Mediaboss Marketing

RUSKIN

Shrouded in a black garbage bag, the 67-year-old film projector sits in a corner of the small booth.

Last weekend, it played its final film at the Ruskin Family Drive-In.

A new machine, humming with life, is in line to take over. The digital projector has all the bells and whistles the film version lacked, and a hefty price tag to go with it.

Owners Ted and Karen Freiwald estimate the transition to digital will cost about $150,000. After raising a small percentage of that on their own, they are now borrowing from a private lender.

It's a risk for the one-screen theater built in 1952, but a necessary one. By 2013, production companies plan to stop distributing movies on film. Digital will soon be a theater's only choice.

"We had to do it," Karen Freiwald said. "You've got to do what you've got to do."

It's a decision many small theater and drive-in owners struggle with these days. Some are raising money, others are taking on debt and some may be forced to shut down.

By borrowing, the Freiwalds hope they have secured the drive-in's future for years to come. The Ruskin drive-in is one of only seven in the entire state, according to drive-ins.com, a website that monitors the outdoor movie business.

After a weeklong installation, the Freiwalds will reopen their drive-in today to present their first digital movie.

Link:
Ruskin drive-in theater goes digital to survive

by IOM Bank

The Isle of Man Bank banking App, which was launched in July 2011 for the iPhone, has been upgraded and is now also available for customers with Android handsets.

Isle of Man Bank customers with Android phones will now be able to download the App which will allow them to view balances, transfer money between their accounts and locate the nearest Isle of Man Bank cash point and branch. Customers will also be able to view mini-statements and set limit alerts to prevent overspending.

Over 9,000 customers have downloaded the iPhone App since its launch, and following a recent upgrade they will also now be able to process payments from their phone using their online banking. Between August and December 2011 our customers undertook more than 100,000 transactions through the iPhone App and undertook more than 8 million of account transfers. This facility will be made available to Android users later in 2012.

Isle of Man Bank Managing Director Bill Shimmins commented: The Isle of Man Bank banking App has proved to be an extremely valuable tool for customers, as we can see from the take-up numbers, and we are pleased that Android users can now benefit from the technology. We are committed to investing in and upgrading the App and have planned further developments later in the year.

As part of the mobile banking developments, Isle of Man Bank launched a competition in January 2012 for entrants to win an iPhone 4s. Out of more than 1,500 entrants, Mrs Margaret Anne Corkill was the winner.

Customers wishing to download the App can do so by going to the iTunes App Store on their phone and keying in the words Isle of Man Bank.

-ENDS-

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

The rest is here:
Isle of Man Bank Announces Mobile App Developments and Winner of iPhone Competition

by Department of Economic Development

THE Isle of Man Aircraft Registry has announced the appointment of Gary Raby to the role of Chief Surveyor. Working with Director of Civil Aviation, Hartley Elder, Gary will be responsible for ensuring that Isle of Man registered aircraft conform to international standards including airworthiness, certification and maintenance. He has 25 years of aviation experience, initially with the Royal Electrical and Mechanical Engineers, followed by Manx Airlines (British Airways CitiExpress/BA Connect) where he progressed to Engineering Manager, responsible for a base maintenance facility for six years. Gary is currently employed in the Aircraft Registry as an Airworthiness Surveyor; he was recruited into the Department in October 2009 and has since undergone intense training coupled with the practical application of Aviation Safety Oversight, Aviation Regulation, Continued Airworthiness and Continuing Airworthiness Management. The Isle of Man Aircraft Registry has been highly successful in attracting business since starting operations on 1st May 2007 and has registered a total of 456 aircraft in its four and three quarter years since the launch. Isle of Man Department Member for Economic Development, Alex Downie, OBE, MLC said: We are very pleased to be able to promote from within our existing Isle of Man Aircraft team. Gary has developed his skills in line with the growth of the register which is now the seventh largest in the world. I wish him every success in his new role. Commenting on his new position Gary Raby said: The transition from Licensed Aircraft Engineer to Airworthiness Surveyor involved a major change in my perspective of the aviation profession, however the change was assisted by the dedicated professionals within the Registry who aided my training in a clear and precise way. I am grateful for the help that they have given me and will ensure that in my role of Chief Surveyor this practice of rigorous professional development within the Aircraft Registry will continue. Gary went on to say: My appointment as the Chief Surveyor of this globally respected Aircraft Register is the highlight of my career in aviation so far. In particular, I am looking forward to applying the management experience that I have gained from other areas of aviation to confirm and consolidate the Isle of Man's position as the premier Aircraft Register of private & corporate aircraft. -ENDS-

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

Continued here:
Isle of Man Aircraft Registry Appoints New Chief Surveyor

SAO PAULO--(BUSINESS WIRE)--

Fitch Ratings expects to assign the following rating to the proposed issuance of notes by Schahin II Finance Company (SPV) Ltd. (the Issuer), a company setup in the Cayman Islands (Cayman):

--USD730 million senior secured notes, 'BBB-(EXP)'; Outlook Stable.

Fitch's expected rating addresses the likelihood of timely payment of interest on a semi-annual basis and the ultimate payment of principal by legal final maturity in September 2023. This expected rating does not incorporate Fitch's full legal analysis as this process is currently ongoing.

The notes are backed by the flows related to the charter agreement signed with Petroleo Brasileiro S.A. (Petrobras) for the use of the dynamically positioned ultradeepwater drillship called 'Sertao' for the term of 10 years. Schahin Petroleo e Gas S.A. (Schahin P&G), oil and gas arm of Brazilian-based Schahin Group (Schahin), is the operator of the drillship and primary sponsor of the transaction. The Sertao vessel is the seventh oil rig expected to become online within Schahin's fleet. The proceeds of the issuance will in large part be used to refinance a loan taken to pay the Samsung Heavy Industries Shipyard for construction of the vessel.

Deutsche Bank Trust Company Americas, as indenture trustee on behalf of the noteholders, will be assigned a collateral package that includes a pledge of the shares of Dleif Drilling LLC (Dleif), owner of the vessel, as well as a mortgage on the rig.

Fitch considered the following factors in its credit analysis: the strategic importance of the Brazilian oil and gas industry, Petrobras' role as off-taker to the charter agreement (Petrobras Issuer Default Rating [IDR] 'BBB'), the quality of Schahin P&G as sponsor of the transaction and operator of the rig, overall leverage and liquidity, and the structural protections in place, among other factors.

Asset quality analysis considered the strategic importance of the local oil and gas industry to the Federal Government of Brazil and Petrobras' investment plans. The industry is considered of extreme importance for the economic growth of the country and should provide a stable credit environment for companies operating in this segment. These consequently mitigate potential decreases to the market value of the Brazilian-operated vessels.

Construction of the vessel is complete. Sertao left the Samsung shipyard in Geoje, South Korea on Feb. 26, 2012. Samsung is a leading shipyard in the construction and development of drillships. The Sertao rig, and its sister rig Cerrado, are the 2nd and 3rd drillships of the 10,000E Design to be delivered by Samsung to be operated by Schahin (the Cerrado rig is being financed through another facility. Excess cash flows, or residual flows, of that facility have been assigned to the Issuer). The Vitoria drillship (not part of this transaction), also of the 10,000E Design, has been operating since March 2011, and shows adequate uptime levels. Schahin shows high historical uptime performance on its rig portfolio. Nonetheless, its non-investment grade credit profile may affect its ability to service and maintain the vessel as well as support the transaction financially if needed.

On a net debt basis, Fitch's adjusted valuation of the drillship indicates an initial loan-to-value (LTV) of 66% and an average LTV of 41.7% throughout the transaction's life. Cash flows from the Sertao agreements are expected to generate debt service coverage ratios (DSCRs) of 1.28 times (x) under a 95% base case uptime assumption. Reserves in the amount equivalent to USD70.8 million will be funded at closing, of which approximately USD23 million seek to mitigate acceptance and performance ramp-up risks and are released upon satisfactory uptime performance.

Read more:
Fitch Expects to Rate Schahin II Finance Company (SPV) Ltd. Notes 'BBB-(EXP)'; Outlook Stable

SANTA FE, N.M. (AP) A new state law will offer a tax break to encourage businesses to hire veterans who recently left the military and New Mexico also will give an advantage to veteran-owned businesses bidding on government contracts.

Gov. Susana Martinez signed the measures on Wednesday, as she met a deadline for acting on bills that passed the Legislature during its 30-day session.

Businesses can receive a $1,000 tax credit for hiring veterans within two years of their discharge from the military, which the governor says will help personnel returning from Iraq and Afghanistan. The tax incentive will be available starting this year and end in 2016.

"Our men and women in uniform make tremendous sacrifices to protect our safety and freedom," Martinez said in a statement. "It is unacceptable that these heroes might come home from Iraq and Afghanistan only to stand in the unemployment line.

Starting in July, businesses owned by veterans in New Mexico will receive a bidding preference on state and local government contracts. House Speaker Ben Lujan, D-Santa Fe, sponsored the proposal. The governor said it will "boost job growth in New Mexico's veteran community."

Also signed was a bill to require legislators to contribute more into their pensions, boosting it from $500 a year to $600 a year. The governor said in a statement that the contributions by legislators "are woefully inadequate in comparison to the taxpayer-funded benefits they generate."

"Given the generosity of these legislative pensions, and the significant expansion of these benefits throughout the years, I believe that voters should have the chance to weigh in on this important issue and evaluate the appropriateness of these pension benefits," Martinez said.

Martinez vetoed several proposals, including ones to:

Create three additional judgeships in Bernalillo and Sandoval counties. The governor said lawmakers didn't fully finance the positions, but Arthur Pepin, director of the Administrative Office of the Courts, disagreed. He said there was enough money in the bill and a state budget measure to pay for the judges and support staff during half of the next fiscal year. The judgeships wouldn't be created until January 2013, which meant that they initially needed money for only six months of the budget year.

Allow counties to increase the salaries of their elected officials by as much as 15 percent. The measure would have raised the cap in state law on salaries of county officials, including sheriff, treasurer and assessor. However, it would be up to county commissioners to decide whether to provide a pay increase. The governor objected to the potential increase in taxpayer spending, saying government finances remain uncertain.

Originally posted here:
Governor approves tax break for hiring veterans