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ThursdaySep 11, 2008 12:42 pm

eDOORWAYS Corp. (EDWY.PK) Announces the Addition of Entertainment Mogul David Heavener

Thursday after the bell, eDOORWAYS announced that it brought entertainment magnate David Heavener onto its “A-Team” to head the development of the entertainment division. This division of the eDOORWAYS brand will be focused on developing numerous interactive components for film, music, and media. "David stands alone in Hollywood as a multi-talented business professional with a demonstrated ability to produce quality product while turning a profit, and he's done it for 20 years! There are very few who can make this claim. David and Action Cat Entertainment are real assets," said Gary F. Kimmons, CEO of eDOORWAYS Corporation. Mr. Heavener is…

ThursdaySep 11, 2008 12:24 pm

Cell Genesys, Inc. (CEGE) Receives Expected FDA Halt on Clinical Prostate Cancer

Cell Genesys (Nasdaq:CEGE) focuses on the development and commercialization of novel biological therapies for patients with cancer. The company's lead product platform, GVAX immunotherapy for cancer, holds the potential to treat multiple types of cancer, including prostate cancer, leukemia, pancreatic cancer and lung cancer. The company today announced that the U.S. Food and Drug Administration has placed an expected partial clinical hold on GVAX's phase 3 program. The halt follows the company’s August 27, 2008 announcement which stated it would end the VITAL-2 phase 3 trial for GVAX. Cell Genesys terminated the trial after its Independent Data Monitoring Committee (IDMC)…

ThursdaySep 11, 2008 12:21 pm

MISCOR Group, Inc. (MIGL) Opens Canadian Rail Services Center

MISCOR Group, Ltd. (MIGL.OB), the Indiana-based, $75-M electrical and mechanical services company, today announced the opening of a 50,000-square-foot service center in Montreal for the maintenance, repair, and modification of locomotives and rail cars, with significant access to the Canadian National (CN) main rail line. The Canadian operation will be part of MISCOR’s AMP (American Motive Power) Rail Services Canada, ULC, one of the five major companies that make up MISCOR. The centralized location gives the company broad access to the Canadian rail market, and provides room for future expansion. John Martell, founder and CEO of MISCOR, pointed out the…

ThursdaySep 11, 2008 12:20 pm

China Natural Gas (CHNG) Acquisition Doubles Capacity

China Natural Gas (CHNG.OB), one of central China’s leading providers of compressed natural gas (CNG), effectively doubled its natural gas processing capacity through the acquisition of the largest-capacity compressor station in the city of Xi’an in central China. The compressor station will increase the company’s daily processing capacity from 300,000 cubic meters to over 600,000 cubic meters, allowing the support of an additional 20 CNG filling stations. The compressor station already has the necessary government permits, and commenced operation in early September. China Natural Gas is the first Chinese natural gas retailing company publicly traded in the U.S. It owns…

ThursdaySep 11, 2008 12:17 pm

Natural Gas Inventories Higher than 5-Year Average

According to the Deparment of Energy's Energy Information Administration, natural gas inventories in the U.S. were up by 58 billion cubic feet (ft³) at the end of last week, bringing storage levels to approximately 2.91 trillion ft³. While this figure is 2.9 percent greater than the five-year average, last year's storage levels at this time were over 3 trillion ft³. As a result of the surplus, natural gas for October delivery slid just over seventeen cents to $7.223 per ft³. Let us hear your thoughts below:

ThursdaySep 11, 2008 12:16 pm

Mortgage Rates at Lowest Levels in Five Months

Thirty-year mortgage rates fell dramatically this week; an anticipated reaction after the recent government takeover of mortgage giants Fannie Mae and Freddie Mac. In a nationwide survey, Freddie Mac found fixed-rate, 30-year mortgages sliding back to 5.93 percent. This comes as good news to a beleaguered housing market, and illustrates the short-term benefits of Sunday's takeover. Economist Mark Zandi of Economy.com feels that rates could continue to drop, reaching as low as 5.5 percent in the relatively near future. Let us hear your thoughts below:

ThursdaySep 11, 2008 12:15 pm

Hurricane Ike Drives Insurance Stocks Down

Insurance stocks continued to take a beating on Thursday as Hurricane Ike remained on a collision-course with Texas' Gulf Coast. The potential for damage caused by the storm, which is expected to reach Category-3 strength before landfall, is only one factor playing into sector troubles. While the credit markets are suffering, the impact felt in the insurance market will be unmistakably negative. Let us hear your thoughts below:

ThursdaySep 11, 2008 11:03 am

China Energy Recovery Inc. (CGYV.OB) Names Seasoned CTO to Enhance Company Growth

China Energy Recovery Inc. (OTCBB: CGYV) (CER) is an international leader in energy recovery systems with a primary focus on the Chinese market. The company’s technology has the ability to capture industrial-waste energy to produce low-cost electrical power. Not only does this reap benefits for the environment, but offers industrial manufacturers an opportunity to cut energy costs and generate sellable emissions credits. To fulfill its business strategies, and growth and operations, the company has taken steps to ensure it is supported by an experienced management team. CER today announced James Zhao will join its team as the chief technology officer…

ThursdaySep 11, 2008 11:02 am

A Look at the US Government Bailout of Fannie Mae (FNM) and Freddie Mac (FRE)

This past weekend saw the federal government bail out the mortgage agencies, Fannie Mae (FNM) and Freddie Mac (FRE). These two agencies combined either own or guarantee over $5 TRILLION worth of mortgages. Why did the government step in? Because they had to! Over the past year, Fannie and Freddie have racked up a combined $14 billion in losses and write-downs. Both agencies, particularly Freddie Mac, were technically insolvent. Foreign banks of all types, who own billions in Fannie Mae and Freddie Mac bonds, became aware of this. They became worried about getting paid back the value of those bonds…

ThursdaySep 11, 2008 10:59 am

Stronger Dollar Weighs on Commodities

Following a very prosperous period for the commodities markets, the portfolios of oil and gold investors are now beginning to lose value. Gold bullion has sunk to $745 an ounce, its lowest price in almost a year. Crude oil has also taken a dive, rapidly closing on the $100 per barrel mark. The question looming in the background seems to be: What is causing the sluggishness in these previously high-flying markets? The answer provided by popular opinion points to the strengthening of the U.S. dollar versus other major currencies, as it rose on Wednesday to an annual high against the…

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