iStar Financial Inc. (NYSE:SFI) a publicly traded finance company focused on the commercial real estate industry, announced that it will now have full ownership of the luxury Miami Beach real estate condominium project “South of Fifth,” located at 125 Ocean Drive. iStar Financial has engaged Cervera Real Estate, Inc., a South Florida real estate company, to manage the project’s marketing and sales efforts.
iStar Financial Inc. is a publicly traded finance company focused on the commercial real estate industry. The Company, which is taxed as a real estate investment trust ("REIT"), provides innovative and value added financing solutions to its customers. Additional information on iStar Financial is available on the Company's website at istarfinancial.com.
Proper Power & Energy, Inc. (OTC:PPWE)
Proper Power & Energy, Inc. announced that it has restructured its executive management team and entered into a strategic alliance.
Andrew J. Kacic will replace Joseph Abdo as President of PPWE. Mr. Kacic brings more than 32 years of progressive experience as a chief executive in oil and gas, investment banking, insurance services and public securities. Mr. Kacic was the founder and president of American Resources of Delaware, Inc. and its subsidiary Southern Gas Company, successfully taking assets from $220,000 to more than $40 million in less than 4 years. Mr. Abdo will remain the Chief Executive Officer and Chairman of the Board.
Concurrently to the management restructuring, PPWE has entered into a strategic alliance with Douglas Kiggins, founder of Mayo Energy Partners. Mr. Kiggins will assist Mr. Kacic in the development of the Company's Utah asset, with the target goal of drilling the first exploratory well in Utah by third Quarter 2011. Mr. Kiggins has participated in the drilling and development of over 250 oil and gas wells in Texas, Oklahoma and Colorado, with the deepest well reaching a total depth over 21,000 feet.
"The Company is now postured to accelerate the development of both Utah and Kentucky in the first Quarter 2011," Mr. Abdo stated.
PPWE has begun production on its Kentucky oil asset, in addition to the 11,000 acres leased for its exploratory prospect in Utah. The Utah prospect has the potential for over 75 wells. PPWE believes the Utah property holds very substantial recoverable reserves, indicated through seismic and radiometric analysis.
About Proper Power & Energy:
Proper Power & Energy, Inc. was formed in 2006 as an exploration and production company for oil and gas. PPWE is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
To learn more about PPWE visit: http://properpower.com
Morgan Stanley (NYSE:MS) reported income of $4.5 billion, or $2.44 per diluted share,1 from continuing operations applicable to Morgan Stanley for the year ended December 31, 2010 compared with income of $1.3 billion, or a loss of $0.82 per diluted share, a year ago. Net revenues were $31.6 billion for the year compared with $23.4 billion a year ago. Net revenues in the current year included negative revenue of $873 million, or $0.30 per diluted share, related to Morgan Stanley’s debt-related credit spreads (NYSE:DVA)2, 3 compared with negative revenue from DVA of $5.5 billion in the prior year.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. It operates in three segments: Institutional Securities, Global Wealth Management Group, and Asset Management. The company was founded in 1935 and is headquartered in New York, New York.
Huaneng Power International Inc. (NYSE:HNP) announced its power generation in 2010. According to the Company's preliminary statistics, as of 31 December 2010, the Company's total power generation within China on consolidated basis amounted to 256.95 billion kWh, representing an increase of 26.25% over the same period last year. Accumulated electricity sold amounted to 241.799 billion kWh.
Huaneng Power International is one of China's largest listed power producers with controlled generation capacity of 50,473 MW and equity-based generation capacity of 46,664MW. The power plants of the Company are located in 17 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore.
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