Tuesday, November 30, 2010

N.Y attorney general ends BofA probe - San Francisco Business Times:

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Cuomo says the banks have and will continu e to provide liquidity to Last October, agreed to buy back as much as $4.7 billion in auction-rate securities it sold to about 5,500 investors, smal businesses and small charities before the market collapsee in February 2008. According to the Securities and Exchange the settlement also required BofAto “use its best efforts” to providre up to $5 billiohn in liquidity to businesses and institutionapl investors with accounts valued at $15 millioj or more, and charities with accounts valuedc at $25 million or more.
The agreemenrt resolved allegations that securitie s dealers made misrepresentations to customerss during salesof auction-rate securitiees about their safety and liquidity. Auction-rate securities have interestg rates that are reseg at weekly or monthly auctions run byinvestmenf firms. The $330 billion marke collapsed last year, when investors became alarmed at the prospects of the abilityh of corporate borrowers covering debt servicre onthe securities. Many were left with securities they coulr not sell intothe market. Charlotte-based BofA (NYSE:BAC) neithed admitted nor denied wrongdoing.
The SEC also has finalized a settlement with BofA overthe

Thursday, November 25, 2010

California utilities tops among solar power users - East Bay Business Times:

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The power association ranked the utilities bythe power-producinb capacity of solar electric systems in 2007. When rankex by solar electric capacityper customer, PG&E dropsz to No. 3, and the and the city of Rosevillwe take the ninth and10th spots. Among publivc power utilities, SMUD is the second-largesgt for total installed solar capacity, behind the . Rosevillee Electric is No. 10. California dominated the lists, but utilitiesw in Arizona, Colorado, Hawaii, Illinois, Nevada, New New York, Texas, Washington and Wisconsih also made the top10 rankings.
PG&E's strengthh in the rankings represents the large number of photovoltaic installations on customerse rooftops configured to offset power consumptioj on site before transferrint power intothe grid. Southern Californis Edison's contracts for power from largse solar-thermal systems put it at the top of the but contracts forplanned solar-thermal systems by othefr utilities may take it out of the top position in the according to the solar power More than 4,600 megawatts of concentrate d solar thermal power are planned for development over the next eight years.