In case you haven?t made the connection between Kindle and Fire, Amazon brings the two words together with a Voltaire quote in this TV advertisement for their new tablet, which was announced today and is available for purchase later this fall.

Giving the iPad a run for its money in price, if not entirely in features, Amazon announced the Kindle Fire today, along with a couple of upgraded versions of their high-selling e-reader. You can read the details and feast your eyes on all of the shiny-tech goodness here. And here?s the ad for the Fire.

Amazon?s keeping it simple with their first ad for the device, offering a Voltaire quote, featuring a fitting simile about books and fire, which also manages to fit in the word kindle. The ad also gives us a glimpse of the tablet?s uses, followed by the best part: the price. $199 is less than half of what an iPad costs (and I?m pretty sure it?s cheaper than my first iPod), which is kind of amazing given how many functions the device has.

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has downgraded two classes of GMAC Commercial Mortgage
Securities, Inc.s mortgage pass-through certificates, series 2001-C2. A
detailed list of rating actions follows at the end of this release.

Fitch modeled losses of 23% of the remaining pool. Nineteen (93.9%) of
the remaining 22 loans are in special servicing. Five loans (39.4%) are
real-estate owned (REO). The Negative Rating Outlooks reflect the
concentration of the pool and uncertainty regarding the disposition of
the specially serviced assets.

As of the July 2011 distribution date, the pools aggregate principal
balance has been reduced 74.9% to $189.5 million from $754.9 million at
issuance. Realized losses to date are 3.3% of the original pooled
balance. As of the July 2011 remittance, interest shortfalls are
reaching up to class J.

The largest contributor to Fitchs modeled loss is a REO property (14.9%
of the pool balance) located in Earth City, MO. The 283,000 square foot
(sf) two-building office property is approximately 19 miles northwest of
the St. Louis CBD. The servicer-reported occupancy was 81% as of May
2011.

Additional significant contributors to Fitchs modeled loss include a
REO office portfolio located in Pennsylvania and a loan secured by an
office center in South Brunswick, New Jersey.

The Lichtenstein Pennsylvania Office Portfolio (15.3% of the pool),
totaling approximately 347,000 sf, includes properties situated in
Allentown, Mechanicsburg and Wyomissing with an aggregate occupancy of
66%. The Princeton Park Corporate Center (9.2%) transferred to special
servicing in 2008 and is in foreclosure. The servicer-reported occupancy
was 68%.

Fitch has downgraded and revised Recovery Ratings (RR) to the following
classes as indicated:

–$9.4 million class H to Csf/RR2 from CCCsf/RR1;

–$23.6 million class J to Csf/RR6 from CC/RR2.

Fitch has affirmed and revised Outlooks on the following classes as
indicated:

–$40.7 million class A-2 at AAAsf; Outlook Stable;

–$34 million class B at AAAsf; Outlook Stable;

–$11.3 million class C at AAAsf; Outlook Stable;

–$15.1 million class D at AAAsf; Outlook Stable;

–$9.4 million class E at AAsf; Outlook to Stable from Negative;

–$15.1 million class F at BBB-sf; Outlook Negative;

–$10.4 million class G at Bsf; Outlook Negative;

–$5.7 million class K at Csf/RR6;

–$5.7 million class L at Csf/RR6.

Classes M, N, O and P remain at Dsf/RR6 due to realized losses.

Class A-1 and the interest-only class X-2 have paid in full. Fitch does
not rate class Q.

Fitch previously withdrew the rating on class X-1. (For additional
information on the withdrawal of the rating on class X-1, see Fitch
Revises Practice for Rating IO amp; Pre-Payment Related Structured Finance
Securities, dated June 23, 2010.)

Additional information on Fitchs criteria for analyzing US CMBS
transactions is available in the Nov. 17, 2010 report, Surveillance
Methodology for US Fixed-Rate CMBS Transactions, which is available
at www.fitchratings.com
under the following headers:

Structured Finance gt;gt; CMBS gt;gt; Criteria Reports

Additional information is available at www.fitchratings.com.

Applicable Criteria and Related Research:

–Global Structured Finance Rating Criteria (Aug. 13, 2010);

–Surveillance Methodology for US Fixed-Rate CMBS Transactions (Nov.
17, 2010).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=547326

Surveillance Methodology for US Fixed-Rate CMBS Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=574208

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND
DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING
THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS.
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE
AVAILABLE ON THE AGENCYS PUBLIC WEBSITE WWW.FITCHRATINGS.COM.
PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS
SITE AT ALL TIMES. FITCHS CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS
OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES
AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF
THIS SITE.

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has downgraded two classes of GMAC Commercial Mortgage
Securities, Inc.s mortgage pass-through certificates, series 2001-C2. A
detailed list of rating actions follows at the end of this release.

Fitch modeled losses of 23% of the remaining pool. Nineteen (93.9%) of
the remaining 22 loans are in special servicing. Five loans (39.4%) are
real-estate owned (REO). The Negative Rating Outlooks reflect the
concentration of the pool and uncertainty regarding the disposition of
the specially serviced assets.

As of the July 2011 distribution date, the pools aggregate principal
balance has been reduced 74.9% to $189.5 million from $754.9 million at
issuance. Realized losses to date are 3.3% of the original pooled
balance. As of the July 2011 remittance, interest shortfalls are
reaching up to class J.

The largest contributor to Fitchs modeled loss is a REO property (14.9%
of the pool balance) located in Earth City, MO. The 283,000 square foot
(sf) two-building office property is approximately 19 miles northwest of
the St. Louis CBD. The servicer-reported occupancy was 81% as of May
2011.

Additional significant contributors to Fitchs modeled loss include a
REO office portfolio located in Pennsylvania and a loan secured by an
office center in South Brunswick, New Jersey.

The Lichtenstein Pennsylvania Office Portfolio (15.3% of the pool),
totaling approximately 347,000 sf, includes properties situated in
Allentown, Mechanicsburg and Wyomissing with an aggregate occupancy of
66%. The Princeton Park Corporate Center (9.2%) transferred to special
servicing in 2008 and is in foreclosure. The servicer-reported occupancy
was 68%.

Fitch has downgraded and revised Recovery Ratings (RR) to the following
classes as indicated:

–$9.4 million class H to Csf/RR2 from CCCsf/RR1;

–$23.6 million class J to Csf/RR6 from CC/RR2.

Fitch has affirmed and revised Outlooks on the following classes as
indicated:

–$40.7 million class A-2 at AAAsf; Outlook Stable;

–$34 million class B at AAAsf; Outlook Stable;

–$11.3 million class C at AAAsf; Outlook Stable;

–$15.1 million class D at AAAsf; Outlook Stable;

–$9.4 million class E at AAsf; Outlook to Stable from Negative;

–$15.1 million class F at BBB-sf; Outlook Negative;

–$10.4 million class G at Bsf; Outlook Negative;

–$5.7 million class K at Csf/RR6;

–$5.7 million class L at Csf/RR6.

Classes M, N, O and P remain at Dsf/RR6 due to realized losses.

Class A-1 and the interest-only class X-2 have paid in full. Fitch does
not rate class Q.

Fitch previously withdrew the rating on class X-1. (For additional
information on the withdrawal of the rating on class X-1, see Fitch
Revises Practice for Rating IO amp; Pre-Payment Related Structured Finance
Securities, dated June 23, 2010.)

Additional information on Fitchs criteria for analyzing US CMBS
transactions is available in the Nov. 17, 2010 report, Surveillance
Methodology for US Fixed-Rate CMBS Transactions, which is available
at www.fitchratings.com
under the following headers:

Structured Finance gt;gt; CMBS gt;gt; Criteria Reports

Additional information is available at www.fitchratings.com.

Applicable Criteria and Related Research:

–Global Structured Finance Rating Criteria (Aug. 13, 2010);

–Surveillance Methodology for US Fixed-Rate CMBS Transactions (Nov.
17, 2010).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=547326

Surveillance Methodology for US Fixed-Rate CMBS Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=574208

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND
DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING
THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS.
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE
AVAILABLE ON THE AGENCYS PUBLIC WEBSITE WWW.FITCHRATINGS.COM.
PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS
SITE AT ALL TIMES. FITCHS CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS
OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES
AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF
THIS SITE.

NEW YORK, Jul 29, 2011 (BUSINESS WIRE) –
Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”)

/quotes/zigman/561260/quotes/nls/ari ARI
-1.24%

, announced today that the Company will hold a conference call
to review its second quarter financial results on Friday, August 5, 2011
at 8:30 a.m. Eastern Time. The Company’s second quarter 2011 financial
results will be released after the market closes on Thursday, August 4,
2011. During the conference call, company officers will review second
quarter performance, discuss recent events and conduct a
question-and-answer period.

Teleconference Details:

Members of the public who are interested in participating in the
Company’s second quarter earnings teleconference call should dial from
the U.S., (877) 263-2989, or from outside the U.S., (702) 928-7168,
shortly before 8:30 a.m. and reference the Apollo Commercial Real Estate
Finance, Inc. Teleconference Call (number 87027896). Please note that
the teleconference call will be available for replay beginning at 9:30
a.m. on Friday, August 5, 2011, and ending at midnight on Friday, August
12, 2011. To access the replay, callers from the U.S. should dial (855)
859-2056 and callers from outside the U.S. should dial (404) 537-3406,
and enter conference identification number 87027896.

Webcast:

The conference call will also be available on the Company’s website at
www.apolloreit.com .
To listen to a live broadcast, go to the site at least 15 minutes prior
to the scheduled start time in order to register, download and install
any necessary audio software. A replay of the call will also be
available for 30 days on the Company’s website.

About Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc

/quotes/zigman/561260/quotes/nls/ari ARI
-1.24%

is a commercial
real estate finance company that originates, invests in, acquiring and
managing senior performing commercial real estate mortgage loans,
commercial mortgage-backed securities, and other commercial real
estate-related debt investments in the U.S. The Company is externally
managed and advised by ACREFI Management, LLC, a Delaware limited
liability company, an indirect subsidiary of Apollo Global Management,
LLC.

Additional information can be found on the Company’s website at
www.apolloreit.com .

Forward-Looking Statements

Certain statements contained in this press release constitute
forward-looking statements as such term is defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and such statements are intended to be
covered by the safe harbor provided by the same. Forward-looking
statements are subject to substantial risks and uncertainties, many of
which are difficult to predict and are generally beyond the Company’s
control. These forward-looking statements include information about
possible or assumed future results of the Company’s business, financial
condition, liquidity, results of operations, plans and objectives. When
used in this release, the words “believe,” “expect,” “anticipate,”
“estimate,” “plan,” “continue,” “intend,” “should,” “may” or similar
expressions, are intended to identify forward-looking statements.
Statements regarding the following subjects, among others, may be
forward-looking: the return on equity; the yield on investments; the
ability to borrow to finance assets; and risks associated with investing
in real estate assets, including changes in business conditions and the
general economy. For a further list and description of such risks and
uncertainties, see the reports filed by the Company with the Securities
and Exchange Commission. The forward-looking statements, and other
risks, uncertainties and factors are based on the Company’s beliefs,
assumptions and expectations of its future performance, taking into
account all information currently available to the Company.
Forward-looking statements are not predictions of future events. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

SOURCE: Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc.
Stuart Rothstein, 212-822-0722

Copyright Business Wire 2011

/quotes/zigman/561260/quotes/nls/ari

Add ARI to portfolio

ARI

Apollo Commercial Real Estate Finance Inc.

$
15.08

-0.19
-1.24%

Volume: 231,419
Aug. 5, 2011 4:02p

/quotes/zigman/561260/quotes/nls/ari

Add ARI to portfolio

ARI

Apollo Commercial Real Estate Finance Inc.

$
15.08

-0.19
-1.24%

Volume: 231,419
Aug. 5, 2011 4:02p

DOW JONES NEWSWIRES

Magellan Health Services Inc.’s (MGLN) second-quarter earnings fell 3.4% as a drop in commercial-segment sales contributed to lower revenue and margins.

The company raised its full-year earnings estimate to $3.30 to $3.83 a share to reflect stock repurchases. …

Ghana Commercial Bank Ltd. (GCB), the West
African nation’s biggest lender, said first-half profit climbed
96 percent after most of the debt owed by the state-owned Tema
Oil Refinery was paid off.

Net income increased to 34.4 million cedis ($22.8 million)
in the six months through June, compared with 17.5 million cedis
a year earlier, the Accra-based bank said in a statement
published in the Daily Graphic newspaper today. Net interest
income fell 32 percent to 108.6 million cedis while impairment
charges on loans and advances narrowed to 3.6 million cedis,
compared with 73.5 million cedis, the bank said.

The government’s “restructuring of the Tema Oil Refinery
debt enhanced flexibility and provided more resources for the
bank’s business,” Sampson Akligoh, an economist with Databank
Financial Services Ltd., said in a telephone interview.

Ghana sold three-year bonds last year to pay off the
refinery’s debt to the lender. In March, the bank said 572
million cedis had been paid, equalling about 90 percent of the
money owed, according to African Alliance Ltd.

Ghana Commercial’s shares were unchanged at 2.96 cedis by
1:04 pm in Accra.

To contact the reporter on this story:
Ekow Dontoh in Accra at
edontoh@bloomberg.net.

To contact the editor responsible for this story:
Antony Sguazzin at asguazzin@bloomberg.net.

(RTTNews) – US coal miner Peabody Energy Corp. (BTU: News ) and steel maker ArcelorMittal SA (MT: News ) on Monday made a hostile bid for Australian coal producer Macarthur Coal Ltd. (MACDF.PK: News ,MCC.AX: News ), underlining their earlier all-cash offer plus a A$0.16 per share final dividend payment. The Macarthur board declined to recommend the same offer made to them earlier.

The companies confirmed their offer following the completion of due diligence.

The current effective offer price of A$15.66 per share represents a 41 percent premium to Macarthur’s unaffected closing price of A$11.08 on July 11 on the Australian Securities Exchange.

The proposal was made through a newly formed company, PEAMCoal Pty Ltd, 60 percent owned by Peabody and 40 percent by ArcelorMittal, which currently holds about 16.1 percent stake in Macarthur and is the second largest shareholder. The proposal was originally made three weeks back.

China’s Citic Group is the largest shareholder of Macarthur, owning 24.5 percent. The offer only needs the acceptance by at least 50.01 percent of shareholders.

Macarthur is the world’s largest producer of seaborne low volatile pulverized coal injection coal with production and development assets in the Bowen Basin, Australia. It controls total coal reserves of about 270 million tonnes and total resources of about 2.3 billion tones.

While rejecting the offer earlier, Macarthur had said that it appears to be an opportunistic attempt to acquire it at a time of global economic volatility and regulatory uncertainty in Australia, and fails to reflect Macarthur’s industry leading position and the growth potential of its unique assets.

St. Louis-based Peabody and ArcelorMittal were earlier willing to raise their offer to A$16.00 per share, which included a provision barring talks with potential rivals bidders. That too was rejected.

However, Macarthur noted that it will recommend an offer of A$16 per share offer to its shareholders, based on certain conditions. These conditions include a price increase to A$18 per share if the companies gained 90 per cent of Macarthur, and the payment of a special dividend of up to A$0.98 per share.

Meanwhile, Macarthur also said that it is in continuing discussions with a number of interested parties in relation to possible alternative proposals that may result in a superior offer to its shareholders. The potential suitors could reportedly be Xstrata, Anglo American Plc, Vale, Teck Resources Ltd., Yanzhou Coal Mining Co. Ltd., BHP Billiton and Rio Tinto.

It was fifteen months ago that Peabody spent two months pursuing Macarthur, which rejected its last sweetened offer of $15 per share in April 2010. This time around it has taken the help of its shareholder, ArcelorMittal, to revive the deal in pursuit of its desire to further expand in coal-rich Australia, and the fast-growing Asian markets. At that time, Peabody faced competing bids from New Hope Corp. Ltd. (NHC.AX, NHPEF.PK), and Hong Kong-based commodity supplier Noble Group Ltd. (NOBGF.PK).

To receive FREE breaking news email alerts for Peabody Energy Corp and others in your portfolio

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–Financial paper less in demand than other corporate paper

–Overnight borrowing represented most volume friday

–Investors build up cash to stay nimble, prep for redemptions

NEW YORK (Dow Jones)–Banks funding themselves in the $1.1 trillion U.S. commercial paper market are beginning to have trouble borrowing for longer than 30 days, and in some cases for as little as seven days, as money market funds hunker down due to uncertainties over the U.S. and European sovereign debt crises.

The dislocation, affecting domestic and foreign banks, is being fueled by an expectation among money funds that rates on benchmark short-term Treasurys, now …

RICHMOND, Va., July 29, 2011 /PRNewswire/ — Xenith Bankshares, Inc. (NASDAQ: XBKS), parent company to Xenith Bank, today announced that Xenith Bank has completed its acquisition of Paragon Commercial Banks Richmond-based operations as well as select loans and deposits associated with Paragons only Virginia location. The transaction adds approximately $62 million in loans to Xeniths total assets and approximately $75 million in deposits to Xeniths total deposits, and is expected to be immediately accretive to operating income.

Were excited about the opportunity to grow our customer base and increase our presence in the Richmond market, as well as add to our talented workforce, said T. Gaylon Layfield III, President and Chief Executive Officer. We believe that by combining our Richmond operations were even better positioned to compete for market share and enhance our product line and services for the benefit of our customers and shareholders.

Through this transaction Xenith acquires total loans of approximately $59 million at a price of 96.23%, and total deposits of approximately $76 million at a premium of 3.92%. The acquired loans are primarily commercial and industrial, owner-occupied real estate and commercial real estate loans, and are located in Xeniths target markets. The acquired deposits are primarily non-time core deposits, consistent with Xeniths stated goal of supporting a large portion of its growth with core deposits, including checking, money market and savings accounts.

Over the next 90 days, Paragons customers will continue to conduct business at its current branch located at 6806 Paragon Place. During the fourth quarter of 2011, all Paragon operations and employees will be consolidated into other Xenith locations in Richmond, and Paragons current Richmond branch will be closed.

This acquisition demonstrates our commitment and desire to expand our presence in the Richmond market, said Layfield. Over the past two years, we believe that weve successfully built an organization that is well positioned to support our current and strategic growth initiatives.

Xenith Bankshares, Inc. is the holding company for Xenith Bank. Xenith is a full-service, locally-managed commercial bank, specifically targeting the banking needs of middle market and small businesses, local real estate developers and investors, private banking clients, and select retail banking clients. As of March 31, 2011, the company had total assets of $264 million and total deposits of $192 million. Xeniths target markets are the Washington, DC-MD-VA-WV, Richmond-Petersburg, VA, and the Norfolk-Virginia Beach-Newport News, VA-NC metropolitan statistical areas. The company is headquartered in Richmond, Virginia and currently has five branch locations in Tysons Corner, Richmond and Suffolk, Virginia. Xenith Bankshares common stock trades on The NASDAQ Capital Market under the symbol XBKS.

For more information about Xenith Bankshares and Xenith Bank, visit our website: https://www.xenithbank.com/.

All statements other than statements of historical facts contained in this press release are forward-looking statements. Forward-looking statements made in this press release reflect beliefs, assumptions and expectations of future events or results, taking into account the information currently available to Xenith Bankshares, Inc. These beliefs, assumptions and expectations may change as a result of many possible events, circumstances or factors, not all of which are currently known to Xenith Bankshares. If a change occurs, Xenith Bankshares business, financial condition, liquidity, results of operations and prospects may vary materially from those expressed in, or implied by, the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by these forward-looking statements include the ability to obtain required regulatory approval to close the Paragon branch; the ability to integrate Paragons operations as expected and within the expected timeframe; possible disruptions to customer and employee relationships and business operations as a result of the transaction; and the other risks outlined in Part I, Item 1A, Risk Factors of the Annual Report on Form 10-K for the year ended December 31, 2010, filed by Xenith Bankshares with the Securities and Exchange Commission. Except as required by applicable law or regulations, Xenith Bankshares does not undertake, and specifically disclaims any obligation, to update or revise any forward-looking statement.

Contact:
Thomas W. Osgood
Executive Vice President and
Chief Financial Officer, Chief Administrative Officer and Treasurer
(804) 433-2209
tosgood@xenithbank.com

SOURCE Xenith Bankshares, Inc.

Back to top

RELATED LINKS

https://www.xenithbank.com

Go Daddy is breaking from its Super Bowl advertising tradition by rolling out a special commercial featuring Danica Patrick during this weekend’s Indianapolis 500.

Scottsdale-based Go Daddy plans to bring its touch to a new commercial set to air during the race on ABC. It’s a continuation of one that ran during the Super Bowl.

“This commercial is fun, edgy and slightly inappropriate — it’s about as GoDaddy-esque as it gets,” said Go Daddy CEO and Founder Bob Parsons, who is the architect of the company’s edgy advertising campaigns. “This ad starts in a garage and ends up, well, it’s safe to say it puts Danica in an environment few people have ever seen her in.”

Patrick is driving in the Indy 500 with her car sponsored by Go Daddy. She will be starting in the middle of the ninth row.