Mediaboss Marketing

By Tommy Wilkes

LONDON (Reuters) - Laxey Partners is calling on Alliance Trust to raise its dividend, the latest move by the Isle of Man-based hedge fund to try to shake up performance at one of Britain's largest investment trusts.

In a letter addressed to the trust's chairman Lesley Knox, Laxey said Alliance will be in a position to pay larger dividends when new tax rules come into force allowing some investment trusts to pay realized capital gains as dividends for the first time.

Laxey, which has waged a campaign dating back to 2010 to try and force Alliance to boost shareholder value, is upping its pressure on the trust to improve performance ahead of its annual general meeting next month.

Earlier this month, it put forward a resolution to fellow shareholders demanding the trust consider outsourcing management of its 2.9 billion pound portfolio of assets, and criticizing the performance of Alliance as "completely unacceptable."

Alliance Trust said on Thursday in response it had already hiked its dividend by 7 percent last year, the largest annual rise in two decades. Laxey also gave an example of how Alliance could increase its dividend by paying out all 2011 earnings per share and realized capital gains as a dividend.

"The example given by Laxey makes Greek finances look prudent," a spokesperson for the trust said.

Last year Alliance defeated a controversial shareholder resolution pushed by Laxey to set up an automatic buyback policy, which would have been triggered when a discount of its shares to net asset value fell below 10 percent.

A discount to net asset value occurs when the market places a lower value on a company - measured by its share price - than the value of its component assets. This is often because investors believe those assets are poorly managed or illiquid, and so their full value is not reflected in the shares.

Many investment trusts trade at such a discount, but few as wide as Alliance.

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Hedge fund Laxey urges dividend hike at Alliance Trust

WASHINGTON--(BUSINESS WIRE)--

Disabled Veterans National Foundation, a non-profit veterans service organization dedicated to meeting the needs of men and women who return home after selflessly serving the country, is urging businesses to take advantage of the tax credits available to them for hiring veterans.

Under the VOW to Hire Heroes Act of 2011, for-profit companies can receive a tax credit of up to $9,500, and tax-exempt organizations a tax credit of up to $6,240, for employing a veteran. The amount varies based on the length of time the veteran has been unemployed, and the amount of first-year wages that will be paid.

DVNF, which provides career assistance to veterans, with particular focus on women veterans and those disabled by their service, is increasing its efforts to educate employers about the benefits of providing jobs to men and women who have returned to civilian life after military duty.

While our initial goal was to assist Veterans with finding and securing jobs, we recognize that employers need support as well, said Raegan Rivers, Chief Administrative Officer of the DVNF. We have resources on our website to help Veterans, and we are available to partner with companies and small businesses to help them connect with Veterans who match their employee needs, and also illustrate to them their benefits for hiring veterans.

The VOW to Hire Heroes Act provides employers with a number of benefits, including:

A tax credit of $5,600 for hiring veterans who have been looking for a job for more than six months, as well as a $2,400 credit for veterans who are unemployed for more than four weeks, but less than six months; and

A tax credit of up to $9,600 for hiring veterans with service-connected disabilities who have been looking for a job for more than six months.

Go here for more information about benefits for employers provided by this Act.

About DVNF: Our Foundation exists to change the lives of men and women who came home wounded or sick after defending our safety and our freedom. A nonprofit 501(c)(3), DVNF was founded in the fall of 2007 by six women veterans to expand their scope of work within the veteran's community. For more information, visit http://www.dvnf.org.

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DVNF Urges Businesses to Take Advantage of Financial Benefits and Tax Credits Available to Them for Hiring Veterans

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings affirms the 'AAA/V1' fund credit and volatility ratings assigned to CRA/LA, A Designated Local Authority's (CRA/LA) investment portfolio (f/k/a Community Redevelopment Agency of the City of Los Angeles, California Investment Portfolio). As of Feb. 29, 2012, the portfolio had approximately $267.6 million in assets under management.

KEY RATING DRIVERS

The rating affirmation follows Fitch's annual review of the portfolio. The affirmation of the 'AAA' credit rating reflects the lowest vulnerability to losses as a result of defaults in securities and is based on the actual and prospective average credit quality of the portfolio's investments.

The main drivers for the credit rating affirmation are:

--The portfolio's overall credit quality and diversification;

--Sufficient portfolio liquidity relative to cash outflows;

--Investment capabilities of CRA/LA as the pool's manager.

The affirmation of the fund volatility rating is based on the stability of the market risk profile, as reflected by duration.

The 'V1' fund volatility rating reflects the portfolio's low market risk and capacity to return stable principal value to meet anticipated cash flow requirements, even in adverse interest rate environments.

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Fitch Affirms CRA/LA, A Designated Local Authority's Investment Portfolio at 'AAA/V1'

'Tis the season for fantasy baseball if you haven't done so already, Freud recommends San Francisco's Madison Bumgarner as a nice addition to your pitching staff but try this on for size.

If you were putting together a fantasy team of local high school basketball, who's your starting five for the boys? There are three strong candidates at point guard alone. Shooting guard? Eagle Valley could put two guys there alone easily, yet Vail Christian has a pretty good two-guard.

Forwards? OMG, as the kids might thumb.

There was no shortage of excellent players both boys and girls locally and the all-league rolls confirm it. We take you through it.

Eagle Valley

The Devils boys got five total selections, but I have two questions. Eagle Valley has only two first-teamers congratulations to Tim Wells and Cooper Senn while Delta had four and Steamboat Springs three? And where in the wide, wide world of sports is point-guard Juan Baca?

Answering the first question, stats are a big part of postseason awards, and Delta's fast-break system produces players with numbers, while the Devils' defense-first makes for a much, more balanced offense. But Steamboat with three guys on the first team from a 5-7 squad and only two from a school that went 10-2 in the Slope and tied for a league title?

Harumph.

Why Baca got no all-league recognition is beyond me. Were the coaches watching the same games I did? You're all-league in my book, Juan.

As for the first-teamers, Wells represents Eagle Valley's deadly perimeter game, and the senior also had a tendency to get hot at the right time ripping off a bunch of points in a very short period of time. Senn is a good selection, even though the numbers probably don't show it. He's a defensive rock.

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Local cagers dot all-league teams

A March 29, 2012 press release from the Department of Tourism

Department of Tourism (DOT) Secretary Ramon R. Jimenez Jr. lauds the good gesture of Sotero Canonoy, a taxi driver who surrendered a bag left by three male German tourists whom he ferried from SM Mall of Asia to NAIA Terminal 1 on March 23 at about 10:00 p.m.

This is one happy piece of news that we need to hear more of. Mr. Canonoys action exemplifies the innate goodness of our countrymen. It gives support to the positive image we wish to portray through our Its more fun in the Philippines campaign. We want to highlight these good news as normal than unusual, Jimenez said.

The incident was first reported on March 26 during GMA7s Aksyon Ora Mismo and repeated over other public service programs of the network. It was through yesterdays morning report over DZBB that the information reached the DOT. Mr. Canonoy was said to have turned over the bag which contained a laptop, PSP, cell phone, wristwatch, some clothes, and medicines. His mother, Nanay Cita, who was a participant in the first Survivor Philippines Castaway reality TV series, suggested that they seek assistance from the network to make public the find, as well as to help trace the owners. Efforts are now focused on gaining more leads from NAIA authorities and the German Embassy to determine the identities of the tourists and ensure that the belongings are returned to them.

This is what we mean by tourism is everybodys business. Each little good thing adds up to the fun picture of Philippine tourism. And as important as the first impression upon arrival are the good memories that a visitor brings with him until he departs. In this particular case, the DOT is pleased to note that the DZBB team perseveres in helping resolve this matter. We all are part of the tourism experience as we all are likewise, beneficiaries. We all need to do our share of good, for tourism to make a dent in our economy and in our respective lives, Secretary Jimenez said.

The DOT enjoins everybody to share more good news through the agencys Twitter (@DOTPhilippines) and Facebook (Department of Tourism) accounts, as well as through its new campaign website itsmorefuninthephilippines.com.

tourism.gov.ph

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Honest taxi driver hailed by DOT as Model of Fun