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A 3.8 magnitude earthquake rattled portions of Central Indiana Thursday morning--and was even felt by some Chicago residents.
The U.S. Geological Survey initially estimated the quake's strength was magnitude 4.2, but since lowered that number, according to the Associated Press.
Residents of Chicago, Naperville and Buffalo Grove, Illinois told NBC Chicago they felt their beds shaking and saw their ceiling fans move early Thursday. A geophysicist told the AP a 3.8 magnitude quake "would feel like a loaded truck passing by."
The Indiana Geological Survey had no records of a 3.8 magnitude earthquake in Central Indiana ever, according to the Indianapolis Star. The director of the IGS told the Star that the quakes location--about 3 miles below the ground--was "highly irregular" and "extremely rare."
Indiana's last major earthquake was on April 18, 2008. The 5.2 magnitude quake was the strongest to hit the state in 40 years, the Star reports.
No injuries or damage had been reported as of 9:30 a.m. CT.
In his New Year message the union boss claimed there would be cuts in jobs and real cuts in living standards.
He added the year could also be a tough one for the government, which may face further angry protests.
Meanwhile, another union leader, Mark Serwotka of the Public and Commercial Services Union said strikes next year were "inevitable".
"The more of us that stand together against the cuts, the more problems we can create. Unless you look like you want a fight, they won't negotiate," he told the Times newspaper, predicting that the disruption would begin in the spring. "The Government has to see we are serious."
The TUC's Mr Barber said a demonstration in London in March against spending cuts looked like being one of the biggest events his union had ever organised.
In his New Year message, he said: "It's hard to pick out the unkindest cut of all, but a top contender must be the 10% cut in housing benefit that kicks in after someone has been unemployed for more than a year."
The Times reported senior union figures would meet at a TUC meeting early in the New Year to discuss their response to the cuts.
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Sci-fi epic Avatar was the most pirated film of 2010, according to data released by a file-sharing blog.
James Cameron's blockbuster was downloaded 16.6m times on one file-sharing site alone, TorrentFreak said.
Second on the list was comic book action film Kick-Ass, with 11.4m downloads, followed by Leonardo DiCaprio in Inception with 9.7m.
Last year's top-pirated film was JJ Abrams' Star Trek reboot, which was downloaded close to 11m times.
Cameron frequently touted 3D film making as the industry's best hope for combating piracy, however, it did not stop millions from downloading it for free.
Despite topping the list, Avatar still took nearly $2.8bn (£1.8bn) at the worldwide box office to become the highest-grossing movie ever.
Oscar-winning film The Hurt Locker also featured in the top 10 list at number nine.
Shareholders of Whitney will receive 0.418 shares of Hancock Bank's common stock per one share of Whitney's stock, the banks said. The exchange value of Whitney shares would be $15.48, based on Hancock's Dec. 21 closing price of $37.04 - a premium of 42% based on Whitney's closing stock price of $10.87.
The deal is expected to be completed by the end of June 2011.
Regional bank M&A is starting to gather steam as the year comes to an end. Many sector observers are predicting bank M&A to pick up in the New Year through 2013 as banks - particularly smaller regional banks - have trouble dealing with ongoing credit headwinds and revenue challenges given the new regulatory environment.
Marshall & Ilsley (MI) agreed last week to be acquired by Bank of Montreal's (BMO) U.S. division, Harris Bank.
Speculation that PNC Financial Services (PNC) was sniffing around at Regions Financial TICKER TYPE="EQUITY" SYMBOL="RF" EXCHANGE="NYSE" PRIMARY="NO"/> and BankAtlantic Bancorp (BBX) also buoyed bank stocks last week.
On Tuesday, TD Bank (TD) said it would acquire Chrysler Financial and is looking to further penetrate the U.S. market. TD Bank has previously expressed its plan to have an extensive banking franchise along the eastern seaboard, of which it is steadily gaining share.
Last month, Wilmington Trust (WL) agreed to a take-under by M&T Bank (MTB).
The combined Gulf Coast-based bank will have approximately $20 billion in assets; $16 billion in deposits; $12 billion in loans and 305 branches across Texas, Louisiana, Mississippi, Alabama and Florida.
"We believe this agreement presents an unprecedented opportunity to enhance shareholder value and strengthen the financial options available to individuals and businesses from Texas to Central Florida," Hancock's CEO Carl J. Chaney said in a statement.
Hancock expects to realize "substantial" cost savings of $134 million before taxes once the merger is fully phased in by 2013, it said. It also expected revenue synergies of 19% by that time.
Following the merger, Hancock said it plans to exercise a common stock raise of $200 million. Following restructuring charges and the common stock raise Hancock expects its tangible common equity ratio to be 8%, it said.
"Not only does this transaction create significant shareholder value, I believe it is also the best course of action for our employees, customers and communities," said Whitney Holding Corporation Chairman and CEO John C. Hope, III.
Wunderlich Securities analyst Kevin Reynolds already slapped a buy rating this morning on Hancock Bank.
"We are upgrading shares of Hancock Holding Company (HBHC) to Buy on news of its transformational acquisition of Whitney Holding Company (WTNY)," Reynolds writes in a note to clients. Hancock is acquiring Whitney for 1.7 times tangible book value in the all stock transaction
"For both WTNY and HBHC shareholders, this is a spectacular transaction, in our view, and the long-term benefits should result in significantly higher overall franchise value on a combined basis," the note says.
Whitney Bank's stock soared nearly 30% on the news; Hancock Bank shares were dropping roughly 6% shortly after the market open.
Cipha Sounds gets an indefinite suspension and sensitivity training after his comments about Haitian women and HIV.
New York area radio station WQHT “Hot” 97.1 FM announced DJ Cipha Sounds will be suspended indefinitely for offensive comments he made about Haitian women. Listeners, community leaders and members of the Haitian-American community called for Cipha Sounds termination after a Friday morning broadcast which found Cipha saying, “The reason I’m HIV negative is because I don’t mess with Haitian girls.”
Cipha Sounds, born Luis Diaz, is a 15-year industry veteran with experience in radio, television and behind the turntables with the likes of Lil Kim and Funkmaster Flex. After angry listeners began responding to the remark, Cipha Sounds issued a formal apology.
“I made a stupid, tasteless joke that was a one-liner,” Cipha told listeners. “It was taken totally the wrong way, and I want to say sincerely that I apologize for even saying this thing.”
Adding that he was embarrassed and didn’t want co-host Peter Rosenberg to share any blame for his comments, Cipha pointed to his relief efforts during the Haitian earthquake and his rapport with the Haitian community as evidence of his true feelings. Cipha Sounds will also undergo sensitivity training focused on the Haitian community, and the station announced it will work with community leaders to increase HIV awareness.
“Cipha made an immediate public apology and recognizes his insensitivity and the negative impact his comments have on all Haitians,” said Alex Cameron, SVP/Market Manager of Emmis-New York via written statement. “The Haitian community is an important part of our listenership whom we respect and value. The suspension is an indication of the importance we place on delivering a product that respects our Haitian audience.”