In Credit Default AMI Skirts Bankruptcy Filing

first_imgThe publisher said it entered into a forbearance agreement with lenders last week that prevents any potential bankruptcy filing until February 4.  In a separate statement, AMI said it will increase Country Weekly’s frequency from 26 to 52 times per year. The change will be effective with the March 2 issue.Concurrently, the publisher is lowering the magazine’s cover price from $3.49 to $2.49. As part of its quarterly financial report, American Media Inc. said it is has again extended its loan payment, which was originally due September 25, until January 26. The payment was previously extended until January 15.AMI reported net income for the two fiscal quarters ended September 30 was $1.01 million up from a $17.8 million loss during the same period in 2007. Operating revenue was $247.6 million, down from $253 million during the same period the prior year.AMI said it agreed with bondholders to offer up to $21 million of its 9 percent senior payment in kind (PIK) notes which are set to mature in 2013, combined with $300 million of its 14 percent senior subordinated notes also due in 2013 and 5.7 million shares of stock. AMI carries approximately $570 million in senior subordinated debt.last_img read more

Mahindra Scorpio with Bulletproof Kit Price Availability Details

first_imgThe Scorpio lovers in the country now have more reason to fall in love with the iconic SUV of Mahindra. The Defence Land Systems, a Mahindra owned company has introduced a bulletproof kit for its Scorpio to give a safety ride to the customers.The bulletproof kit is being offered in three variants – Executive, premium and VVIP at 12.67 lakh, 16.07 lakh and 18.33 lakh respectively and is available for booking in the country with advance payment of 75,000 at the e-retailer Snapdeal.Talking about the features of the new Bulletproof kit for Scorpio, it can safeguard the passengers inside the car, if a shot is fired at 90 degree angle from a 9mm pistol from a distance of 5m and come with a real time tracking device.While the Executive kit packs bulletproof glass, fire proof fuel tank, real time vehicle tracking device and bulletproof body panels, the Premium kit offers bulletproof panel and run flat system in addition to the features offered in the Executive kit. The third variant VVIP comes with blast proof carpet and bulletproof glass with power windows in addition to the features in the Premium kit.The iconic SUV Scorpio, one of the top selling SUVs in the domestic market is sold with the 2.2 liter turbo diesel mHawk engine and 2.5-litre m2Di. The car which has been sailing in India since 2002 is expected to get a new version in coming months. Scorpio facelift which has been spied testing numerous times in the country is expected to pack the same 2.2 liter four cylinder turbocharged mHawk diesel engine, which powers the current model and is likely to offer a power of 120 bhp and peak torque of 290 Nm. The new Scorpio might also get 6-speed automatic transmission for improved performance.(ED: AJ)last_img read more

Eat nuts to cut cancer risk Study

first_imgConsuming nuts is associated with a decreased risk of certain types of cancer, but not Type-2 diabetes, says new study.For the study, researchers conducted a systematic review of 36 observational studies, which included 30,708 patients on the disease-preventive powers of nut consumption to create a comprehensive analysis.”Our study suggests that nut consumption may be associated with reduced risk of cancers, which may have practical implication,” said lead author Lang Wu at Mayo Clinic in Rochester, Minnesota. Also Read – ‘Playing Jojo was emotionally exhausting'”Aligning with the known beneficial effect of nuts on heart diseases, our study may imply that individuals interested in making better food choices to reduce the risk of cancer and heart disease can consider consuming nuts, after considering the caloric and fat contents of different types of nuts,” Wu said.”Nut consumption was inversely associated with risk of colorectal cancer, endometrial cancer, and pancreatic cancer, but not with other types of cancer or type 2 diabetes. Overall, nut intake was associated with a decreased risk of cancer,” said the authors. The study was published in the journal Nutrition Reviews.last_img read more