plus 3, Salem's selectman race tops ballot - Eagle-Tribune

Salem's selectman race tops ballot - Eagle-Tribune
TSX edges up on financials - YAHOO!
Dow Turns Positive, Led by Pfizer - Wall Street Journal
New Credit Suisse/Tremont Commentary Offers Insight Into January Hedge ... - Stockhouse

Salem's selectman race tops ballot - Eagle-Tribune

Posted: 19 Feb 2010 08:02 AM PST

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SALEM — The school district clerk will take on an incumbent selectman in what may be the town's biggest race this year.

Nanci B. Carney, 51, a business development officer at Pentucket Bank, and Selectman Patrick M. Hargreaves are running for a three-year term on the board. Hargreaves, 48, who served on the Budget Committee before he was elected selectman in 2007, is a self-employed locksmith.

Both candidates said the town's infrastructure and tax rate were the biggest issues facing the town.

Hargreaves said balancing the need for good roads and bridges with the tax rate was difficult. He said the potential tax increase from all the Town Meeting warrant articles this year is too high.

"If you're going to raise taxes 11 percent, that's unacceptable," he said. "You have to make cuts."

Carney said many people have asked her about the town's infrastructure, which she said would be one of her priorities if she were elected.

"I've had people e-mailing about what I am going to do about the roads, the bridges, how to keep the tax rate down," she said.

Carney said she wanted to see the town move forward, make employees and residents happy, and keep tax rates low while still providing the services that "keep the town going."

"I think it's time for a fresh voice on the board," she said, "some new perspectives, new ideas."

Carney said she has been putting up signs around town and she recently held a campaign event that drew more than 100 people to the Blackwater Grill.

"People are just rallying," she said. "It's been very, very positive."

Hargreaves said he has spent time talking with people in the community. Some of them like the stances he takes, which are often at odds with others on the board, and some do not, he said. He also has put up signs — some that he used in his first campaign — and has distributed pens urging people to vote for him.

"It's going good," he said of the campaign.

In his time as a selectman, Hargreaves said, he made it his goal to let fellow board members know what residents are thinking. He said he is only 20 percent of the board, and cannot make changes on his own, but he can keep "bringing the voice" of the people to the board. He said he spent his term "helping each resident as best as I can."

He said people should vote for him because he is a "common man." His job as a locksmith puts him in daily contact with people who have questions or concerns about the town, he said.

"I'm talking to residents every day about their property and their security," he said.

Carney, meanwhile, said she was in tune with businesses and people in Salem. She has served on the board of directors of the Greater Salem Chamber of Commerce. She said her professional real estate and banking background would be helpful to a town struggling with how to develop in a down economy.

"I'm in touch with the people and what they need, and I understand the economic climate that's going on," she said. "We can't stagnate."

Voters will choose who will fill the seat March 9.

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Name: Nanci B. Carney

Age:¬ 51

Occupation: Business development officer at Pentucket Bank, Realtor for the Masiello Group

Incumbent: No

Elective experience: School district clerk¬

What is the single most important issue facing the Salem Board of Selectmen? "Addressing¬ the needs of our¬ failing infrastructure, but doing so in a fiscally responsible manner. This¬ will require making difficult and prudent decisions for Salem."

Name: Patrick M. Hargreaves

Age: 48

Occupation: Locksmith

Incumbent: Yes

Elective experience: Budget Committee, Charter Commission, Board of Selectmen

What is the single most important issue facing the Salem Board of Selectmen? "I feel the single most important issue for the selectmen of Salem is maintaining our infrastructure while keeping our tax rate affordable for all residents."

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TSX edges up on financials - YAHOO!

Posted: 19 Feb 2010 07:55 AM PST

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TanyaO buzzed up: Pa. school: Webcams used only on missing laptops (AP)

3 seconds ago 2010-02-19T08:55:04-08:00

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Dow Turns Positive, Led by Pfizer - Wall Street Journal

Posted: 19 Feb 2010 08:38 AM PST

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By KRISTINA PETERSON

NEW YORK—U.S. stocks shook off morning declines to bounce back into the black on Friday, as financials rebounded, building on investors' increasing confidence in the sector following the U.S. Federal Reserve's discount rate increase.

The Dow Jones Industrial Average was recently up 19 points, or 0.2%, at 10412. Pfizer was the measure's top performer. The drug maker was up 1.7%, possibly benefitting from rival United Therapeutics' decision to pull its European marketing application for a high blood pressure treatment after it became clear it would have to conduct another clinical study to gain approval.

Credit-card issuer American Express was the measure's worst performer, down 1%.

The Fed's move didn't broadly hurt the Dow's banking components. Bank of America rebounded, shaking off earlier declines to climb 0.6%, as investors began to interpret the Fed's move as a signal that banks no longer need the emergency help established during the recession.

The Nasdaq Composite edged up 0.1%. The Standard & Poor's 500-share index gained 0.3%, with utilities and financials leading the climb.

Investors said financials' recovery signaled increasing confidence that banks are able to weather the recovery without the emergency help instituted by the Fed during the credit crisis.

"I view it as a modest positive," said Howard Ward, chief investment officer at GAMCO Growth Fund. "The Fed feels the banks are strong enough they no longer need to get the special privileges at the discount window."

The market's losses earlier in the session came after the Fed surprised investors shortly after Thursday's close by raising the rate it charges banks for emergency loans by a quarter-percentage point to 0.75%. While the move was generally expected, most market watchers didn't anticipate that the central bank would begin implementing its exit strategy so soon.

But after mulling over the change, traders later said the market's modest reaction to the news signaled comfort with the central bank's plan.

Getty Images

Energy prices boosted consumer prices last month.

"The impact is not going to be that dire to investors at this point in time," said Patrick Galley, chief investment officer at . The Fed is restoring a more normal borrowing conditions with banks, "not aggressively tightening monetary policy," he noted.

Among companies reporting earnings, J.C. Penney climbed 6.9% recently after its fiscal fourth-quarter earnings fell 5.2% but rose when excluding pension costs. The department-store operator also gave an optimistic outlook.

Dell slid 7.1% after reporting a dip in quarterly profit late Thursday but a gain in sales, with revenue for mobility and service units gaining on an annual basis. Gross margins fell short of some analysts' expectations.

Meanwhile, oil-services company Schlumberger slid 3.5%. The company is in advanced discussions to acquire Smith International according to people familiar with the negotiations. The deal would create an industry giant with revenues double that of its nearest rival. Smith International gained 13%.

In other markets, the dollar strengthened against the euro and the yen. Treasurys gained slightly, with the 10-year note up 1/16 to yield 3.801%. Meanwhile, crude-oil prices edged up above $79 per barrel, while gold futures declined.

In Friday's economic data, a report showed that consumer prices barely rose in January from the previous month, while core inflation, which strips out volatile energy and food items, fell for the first time since 1982.

Write to Kristina Peterson at kristina.peterson@dowjones.com

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New Credit Suisse/Tremont Commentary Offers Insight Into January Hedge ... - Stockhouse

Posted: 19 Feb 2010 07:27 AM PST

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NEW YORK, Feb 19, 2010 /PRNewswire via COMTEX News Network/ --

The Credit Suisse/Tremont Hedge Fund Index Gained 0.17% in January as Hedge Funds Posted Positive Performance Despite Market Reversals.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091204/CSLOGO)

A new monthly commentary offers insight into January hedge fund performance. Some key findings from the report include:

January was a positive month for Fixed Income Arbitrage, with most strategies generating positive performance amid a fall in risky assets in the second half of the month

Event Driven managers produced generally positive returns, largely driven by gains from credit positions and hedging strategies that mitigated equity losses

Event Driven managers were also supported by on-going technical conditions as credit markets held steady in January despite weakness in equities and both the CS Leveraged Loan and High Yield Index sustained gains of 1.81% and 1.27%, respectively

Despite slightly negative performance for the overall Emerging Markets sector, Emerging Europe-focused managers experienced gains with the MSCI EM Eastern Europe Index finishing the month up +1.8%

Credit Suisse Tremont Index LLC industry commentaries and publications are available on the Research section of our website, www.hedgeindex.com. Click here to view the full report which includes an overview of November hedge fund performance, in-depth commentary on individual hedge fund sectors and hedge fund return dispersion statistics for each strategy.

Information

Meg Bode, Bode Associates, telephone 516 869 6610, meg@bodeassociates.com

Suzanne Fleming, Corporate Communications, Credit Suisse AG, telephone 212 325 7396, suzanne.fleming@credit-suisse.com

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,400 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Private Banking

In Private Banking, Credit Suisse provides comprehensive advice and a broad range of wealth management solutions, including pension planning, life insurance products, tax planning and wealth and inheritance advice, which are tailored to the needs of high-net-worth and ultra-high-net-worth individuals worldwide. In Switzerland Credit Suisse supplies banking products and services to individual clients, corporates and institutions.

Investment Banking

In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 30 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.

Asset Management

In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including alternative investments such as private equity, hedge funds, real estate and credit, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.

Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.

The investment views and market opinions/analyses expressed herein may not reflect those of Credit Suisse as a whole and different views may be expressed based on different investment styles, objectives, views or philosophies. No part of this material may be reproduced or retransmitted in any manner without the prior written permission of Credit Suisse.

SOURCE Credit Suisse AG

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