L&T, the leader of L&T Oman LLC-Galfar consortium, is a renowned construction company that has experience of doing some mega projects in past such as Delhi International Airport, Hyderabad International Airport and Bangalore International Airport.

According to the details, along with company’s already running construction projects in Middle East, building & factories operating company L&T was awarded the project for the design and development of the New Salalah International Airport in Oman, which will have capacity to facilitate nearly 2million passengers per year, by the Ministry of Transport & Communications of Oman.

The company’s scope of work, which includes complete design of the airport, construction of the 660,000 square feet passenger terminal building, airside and landside works, auxiliary buildings including MEP systems, airport-wide system networks and Air Traffic Control tower, is nearly $500 million and is expected to be finished in two and a half years time.

Having a significant presence in Oman through L&T Oman LLC, the shares of L&T traded at nearly $25 with a decline of point 26 percent on the Bombay Stock Exchange, while the benchmark Sensex Exchange closed 0.76% up at 20,309.69 points. The total volume of traded shares of the company was 78,312 earlier today on Monday 15th November, 2010 at 1:31 p.m. BSE.

Oman

According to the reports of Mario Hendricks of WSFA, showing a favorable trend for the last five months in a row Alabama Unemployment Rate is now standing at 8 point 9 percent. It was also told by Hendricks that is the lowest unemployment rate the state has seen in last two years. Firms are hiring more staff now as the busy holiday season approaches near. That implies the declining Alabama Unemployment Rate will continue to fall even in the month of December and January.

Business owners in Alabama say, “We’re now taking on more extra staff than we hired in last year holiday season.”

At the Montgomery Target store, for example, a huge response for available vacancies was seen in recent days. According to local sources, more than 800 unemployed persons applied for jobs in the month of October.

Sixty (last year it was 56) work vacancies have already been filled and the Montgomery Target store officials are expected to re-assess next month so more jobless people could be employed.

Bob Riley (R), who is charged with governance of Alabama, said “We’ve most likely got plenty more employers who are showing a keen interest in our state about moving their businesses and their headquarters to Alabama.”

“We certainly have more people looking at us today than we ever have and we need to keep pushing this”, added Bob Riley.

Last year in April, General Motors (GM) made the sad announcement that the company would discontinue the production of its brand Pontiac, which was once a star performer division of the company, to shift the focus upon four current-core brands in North America i.e. Cadillac, Chevrolet, GMC and Buick.

It was also announced that the company had decided to stop the production just because the sales figures of Pontiac were showing a downward graph for quite some time. Pontiac had lost more than 80 percent of its market share even before the company went bankrupt.

Pontiac, the once best-seller brand of GM that touched the peaks of its reputation in late 1960s, started to go out of business at the end of 1980s when the company tried to merge the design with other creations of that era.

According to the statement of a retired executive at GM, Bill Hoglund, the company’s downfall is the result of various wrong moves taken by CEO of Pontiac, Roger Smith, who was appointed in 1984.

The ex-executive blamed the current CEO saying “there was no passion for Pontiac. The product had to fit what was going on in the corporate system”.

Pontiac

According to the reports, Chad Hurley, who is among the three pioneers of YouTube, let the world know about his decision just last night on Thursday 29th October, 2010 while he was attending a technology conference at Trinity College in Dublin, Ireland.

During the conference when Chad Hurley was asked by a media correspondent about his future plans, he made the surprising announcement saying that he would be stepping down from his CEO position. Chad Hurley said “I will continue to serve as an advisor and am excited to witness the next phase of YouTube’s growth”.

After Chad Hurley, it is expected that the sitting vice president of YouTube, Salar Kamangar, would be the new CEO. According to a spokesperson for to the company, YouTube is considering to promote Salar Kamangar to the CEO role at the unit.

Although the news of Chad Hurley’s resignation is surely a much surprising one for the industry, yet it failed to surprise many YouTube employees since it was expected. Reportedly, they had been seeing less of Chad Hurley’s involvement in operational affairs of the online video company since 2008 when Salar Kamangar came into the scene and took over greater responsibilities.

Chad Hurley

The Chelsea Hotel, after being remained the private property of three families for more than 6 complete decades, is at present up for sale. According to a shareholder named Paul Brounstein, the 12-floor Chelsea Hotel is now looking for some one new to come and decorate the old building with a number of fresh ideas and energy.

The Chelsea Hotel, with 250 rooms and 12 magnificent looking floors, was located on 23rd Street between 7th and 8th avenues and had served a number of struggling artists, musician and writers since its inauguration in 1883.

In recent years several renovations in Chelsea Hotel have resulted an addition of more than 20 rooms in the old building reaching up to the huge cost of two and three million dollars.

Loren Riegelhaupt, a spokesman for the owners of Chelsea Hotel, said “the history itself makes the Chelsea Hotel what it is. Anybody who’s going to be looking to buy the Chelsea knows that the Chelsea is the Chelsea, and there’s nothing you want to do to change what the Chelsea is”.

The brief record of all those renowned Hollywood persons, who had stayed during there struggling times in the Chelsea Hotel in past, includes the names of Clarke, O. Henry, Thomas Wolfe, Andy Warhol Jim Morrison and etcetera.

Chelsea Hotel

According to the available details, software giant’s ex-CSA, Bill Gates’ hand-picked self-replacement, Ray Ozzie’s tenure with the company has now reached to its end as after almost five years of serving the company, Ray Ozzie is now willing to step down from his job.

Later yesterday on Monday 18th October, 2010, the Chief Executive Officer of Microsoft sent an e-mail to the employees, confirming the news of Ray Ozzie’s departure. Steve Ballmer stated in his e-mail “Ray Ozzie is in the process of leaving the company, but will stay with us for an indeterminate changeover period to unfold the projects that he started with us”.

Ray Ozzie, who’s been responsible for handling short and mid term technology and product strategy problems in the company, is better known to the world as the successor of technology legend, Bill Gates. Being a computer science graduate from the University of Illinois, Ray Ozzie joined the software giant in 2005 when Groove Networks, where Ray Ozzie was one of thee Chief Technical Officers (CTO), was acquired by Microsoft.

One of Ray Ozzie’s biggest achievements, during his times in Microsoft as the CSA, is to found Future Social Experiences labs (FUES) within the boundaries of Microsoft to focus on innovation around future social web experience.

Ray Ozzie

The ‘King Pharmaceuticals Buy-Out’ deal is said to be the largest for Pfizer since it bought Wyeth Incorporation, to expand its business in the Philadelphia area, for $68 billion in 2009. According to the details, with the buying of King Pharmaceuticals, Pfizer would reportedly be in a better position to enlarge its product offering range since currently, according to various sources, Pfizer is getting itself prepared to tackle the problem of patent expirations on billions of dollars worth of drugs in the few upcoming years.

With the patent expiration, Pfizer will not only go down with some of it’s pills with ordinary sale records, but also with its best-selling cholesterol pill, Lipitor that reportedly earned $11.4 billion in revenue for the largest pharmaceutical company of the world, Pfizer.

While on the other end, it also seems that this deal is certainly going to affect the market ratings of King Pharmaceuticals, the world’s 39th largest pharmaceutical company, which has been placed under the ratings review program by the Moody’s Investors Service for a possible upgrading following the announcement that caught the airwaves yesterday on Tuesday 12th October, 2010 confirming that Pfizer Incorporation is going to buy King Pharmaceuticals for $3.6 billion.

And that is exactly why the ‘King Pharmaceuticals Buy-Out’ deal is vitally important for both the companies!

King Pharmaceuticals

According to the latest updates, Go Daddy, which is currently the most popular internet company that sells electronic business related services and software globally, is all set to occupy the Asian e-market with its new data center that has recently been opened by the company in Singapore.

Bob Parsons, the Chief Executive Officer of Go Daddy, told that Go Daddy has been experiencing fast growth from customers in from Taiwan, Japan and South-Korea since it has steeped in the Asian e-market and the new data center is expected to assist the company for faster and better service in other Asia countries.

The CEO of Go Daddy said “people everywhere are looking for quality products at affordable prices and Go Daddy has always been committed to providing the best possible products and services”.

And while talking about Ella Koon, the new ‘hottie in the house’, Bob Parsons said “we’ve been taking care of customers in the Far East for years – now we’re ready to have a Go Daddy Girl based in Asia. Ella Koon is an absolute beauty and smart as well”.

Born in Tahiti and brought up in Hong Kong, Go Daddy’s newest girl, Ella Koon, completed her high-schooling in Birmingham, England. Ella can speak many foreign languages fluently, including Cantonese, Mandarin, English and French.

Go Daddy

According to the latest updates, Alberto Culver, an American company with global sales that is also known for making some best seller beauty products like ‘Tresemme’ and ‘Alberto VO5’, announced earlier today on Monday 27th September, 2010 that the Unilever corporation, world’s renowned consumer goods giant, has agreed to buy it solely.

It was also announced that for per share of Alberto Culver, Unilever has agreed to pay $37.50 in cash, an amount that represents a ‘19% premium-added price’ to the company’s closing market price on Friday 24th September, 2010.

Alberto Culver, an esteemed American corporation with more than 3800 employees that not only owns an ample variety of beauty care brands, but also manufactures the skincare lines like Noxzema, announced the news of complete buying out by saying “we’ve agreed to be bought by the Anglo-Dutch consumer goods company for $3.7 billion”.

While explaining the purpose behind this buyout deal, a spokesperson to the Unilever group said “Alberto Culver’s wide collection of best seller beauty brands including ‘TRESemmé’ and VO5 will surely boost up its hair and skin care businesses”.

It is further told by the same source that this ‘Alberto Culver Buyout’ deal will be the biggest one for Unilever in last complete year, as it would also help the company to stabilize and become even more successful in complete European market.

alberto culver

It was really a worth watching interview as Kyle Bass, who had been credited for making quite a few ‘doom & gloom’ calculations on the collapse of the sub-prime mortgage market that ended up coming true in the long run, was seen without having upbeat outlook on where the world is heading monetarily

During the show, when he was asked about his opinion by David Faber, who interviewed him, on the current state of the world economy, Kyle Bass said” given my outlook on the world, I don’t know how you can be long stocks”!

Kyle Bass, who feels the ever declining economic conditions in Europe are now out of control, also said “in terms of comparison of the GDPs of both economies, the banking system in Europe is substantially more leveraged than that of the United States”.

It felt like Kyle Bass was of the view that the European bank stress tests were of no value and a restructuring of European debt system will have to occur, only if they want things to improve.

Well what he said regarding the stock market, might be of great importance for a common man, but apparently not for the big giants of stock market who are of the view that although, Kyle Bass is long in several US investments and likes US high yield debt in the form of corporate bonds, however he is not long enough in the stock market!

Kyle Bass