NEW YORK, March 11, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Vale SA, General Electric Company, Clearwire Corporation.
Vale SA (ADR)(NYSE:VALE), a Brazilian miner, has stated on Monday that it is deferring investments in its Rio Colorado potash project worth $6 billion. The company said that the project is not at par with the commitment to regulation in capital allocation of Vale.
The project has been through cost overruns because of inflation that has raised materials and labor costs.
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In other news, General Electric Company(NYSE:GE) has agreed on examining the idea of expanding its clearout of pollutants from a section of the Hudson River in New York after state Comptroller Thomas DiNapoli required a shareholder vote on a survey to broaden the project.
GE has discharged nearly 1.3 pounds of likely carcinogens into the river over a period of three decades. The company will be completing a review this year to ascertain whether getting rid of more polluted dirt will help in decreasing potential penalties. DiNapoli has withdrawn the investor proposal after the company’s dispensation.
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General Electric is all geared up to start a fourth summer of scouring under conditions with the US Environmental Protection Agency. In addition to over $1 billion, the company says it has already invested on the cleanup labors; GE is likely to face more penalties depending on an evaluation of environmental damage by federal and state officials.
President of Scenic Hudson, Ned Sullivan said that GE has been doing an incredible job with its remedial scouring. Hudson believes that the company will save expenses by getting it all done at the moment, and win the admiration of the environmental community.
GE has asked the SEC for consent to block the investor vote, arguing that the proposal of DiNapoli micromanages the company.
DiNapoli wants the study after there was an EPA report issued in June with high concentrations of PCBs in areas that were not supposed to be dredged any further.
Executives at Clearwire Corporation(NASDAQ:CLWR) are now all driven by a motivation for a merger with Sprint. The catch is that all the executives will be getting a huge cash payout if Sprint happens to acquire the Bellevue wireless company.
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Sprint presently is the owner of a little more than 50% of total shares of Clearwire. It has offered to purchase the remaining shares for $2.97 per share. In case the merger happens, executives will be able to cash out their shares that are issued on 1st March for $2.97/ share.
Sprint’s acquisition of Clearwire has been the buzz as investors protest the purchase cost and other bidders, like Dish Network, offer options to the deal.
This deal would mean a cash payout of about $7 billion for the CEO of Clearwire, Erik Prusch. However, Prusch is not the only executive who would do well if the Sprint deal happens. Chief Technology Officer, John Saw will get a payout of $2 billion. The CFO, Hope Cochran is supposed to get about $1.8 million.
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