Struggling Jones Act shipping company Horizon Lines announced Tuesday plans to terminate its Puerto Rico operations and said it has separately entered into a series of definitive agreements that will result in the sale of the entire company.
Horizon Lines made the announcement in a press release issued Tuesday, saying that the company would cease providing liner service between the U.S. and Puerto Rico by the end of 2014 due to continuing losses without the prospect of future profitability. Horizon Lines also announced the sale of its Alaska operations to Matson, Inc. and its Hawaii business to The Pasha Group.
The deal with Matson, which was unanimously approved by the Board of Directors of both companies, includes all of Horizon Lines’ Alaska operations and the assumption of all non-Hawaii business liabilities. Matson said that the value of the transaction is $456.1 million, including $69.2 million in stock plus the repayment of all outstanding debt…
This past week Brazil announced that it will be building a 3,500-mile fiber-optic cable to Portugal in order to avoid the grip of the NSA.
What’s more, they announced that not a penny of the $185 million expected to be spent on the project will go to American firms, simply because they don’t want to take any chances that the US government will tap the system.
It’s incredible how far now individuals, corporations, and even governments are willing to go to protect themselves from the government of the Land of the Free.
The German government, especially upset by the discovery of US spying within its borders, has come up with a range of unique methods to block out prying ears.
They have even gone so far as to play classical music loudly over official meetings so as to obfuscate the conversation for any outside listeners.
They’ve also seriously contemplated the idea of returning back to typewriters to eliminate the possibilities of computer surveillance. More pra…
Now however, as RT reports, Russia intends to have its own international inter-bank system up and running by May 2015. The Central of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West.
If successful, this would pose a further challenge to the USD's reign as sanction blowback reverberates once again.
Mango grading typically takes skill and long hours of concentration, but advances in technology means increasingly fewer workers are needed in the hot and noisy packing sheds of the north.
A packing shed near Katherine in the Northern Territory has a machine that automatically grades mangoes as they pass beneath its high speed camera.
Tina Niceforo, owner of Tropical Treasures packing shed, says as the mangoes roll underneath the camera, it takes 60 photographs of each side of every mango, and grades the fruit by checking for blemishes, blush and weight.
"It will put it in its right category to say whether it's a first [grade] …