Category Archives: Liberty

Holy Hour for Life, Marriage and Religious Liberty - Fr. John Paul Mary- 2013-11-01
All Saints Day.

By: EWTN

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Holy Hour for Life, Marriage and Religious Liberty - Fr. John Paul Mary- 2013-11-01 - Video

MARLTON, N.J.--(BUSINESS WIRE)--

Liberty Bell Bank (LBBB) today reported net income of $39,000 or $0.01 per diluted share for the three months ended September 30, 2013, compared to a net loss of $1.6 million or $(0.53) per diluted share for the same period in 2012, an improvement of $1.6 million. For the nine months ended September 30, 2013, the Bank had a $2.3 million net loss, or $(0.70) per diluted share, compared to a net loss of $2.4 million or $(0.78) per diluted share for the same period in 2012. At September 30, 2013, the Bank is adequately capitalized by all regulatory measures.

The improvement in the Banks quarterly earnings of $1.6 million as compared to the three months ended September 30, 2012 was due primarily to a decrease in the provision for loan losses of $831,000 and a reduction of losses on the sale of other real estate owned of $610,000 from $617,000 in 2012 to $7,000 in 2013. In addition, non-interest expense decreased $236,000 from $1.6 million for the three months ended September 30, 2012 to $1.4 million for the three months ended September 30, 2013. The provision for income taxes also decreased $18,000. These positive variances were partially offset by a decrease in net interest income of $23,000 and a decrease in fee income of $38,000.

The decrease in the provision for loan losses from $840,000 to $9,000 reflects our constrained loan growth and the lack of any material deterioration in our loan portfolio, coupled with the sale of some problem assets since September 30, 2012.

The decrease of $23,000 in net interest income for the three months ended September 30, 2013 as compared to the three months ended September 30, 2012 was due to a $134,000 decrease in interest income partially offset by an $111,000 reduction in interest expense, primarily from a decrease in interest expense on deposits. The decrease in interest income was due primarily to a decrease of $179,000 in interest from loans offset by an increase of $44,000 in interest earned from investments.

The decrease of $179,000 in interest from loans was due primarily to a 39 basis point reduction of the yield from the loan portfolio from 5.52% to 5.13%. In addition, the average loan balances outstanding for the three months ended September 30, 2013 as compared to the three months ended September 30, 2012 decreased by $5.1 million. The reduction in average loan balances was due primarily to pay-downs and pay-offs of commercial loans. The increase of $44,000 in interest on investments was due primarily to an increase in the average balance outstanding of $10.8 million from $32.2 million to $43.1 million.

The $236,000 decrease in non-interest expense was due primarily to a $141,000 reduction in compensation expense, a $38,000 reduction in other operating expense, a $29,000 reduction in expenses related to other real estate owned and a $14,000 reduction in equipment expense. The reduction in compensation expense was due primarily to a decrease in personnel due to the Mt. Laurel branch closing and the resignation of two senior officers. The reduction in other operating expenses was due primarily to a reduction in expenses related to the loan portfolio.

Net interest margin for the third quarter of 2013 was 3.33%, a decrease of 0.19% from the 3.52% net interest margin for the third quarter of 2012. The margin decrease was mainly the result of a 0.51% lower yield from interest-earning assets partially offset by a 0.30% reduction in the rate paid for interest-bearing deposits.

The loss for the nine months ended September 30, 2013 was primarily due to the Bank being a victim of a check kiting scheme by one of its commercial deposit and loan customers. As a result of this check kiting activity, the Bank recognized approximately $2.1 million ($.62 per diluted share) as a loan charge-off. In addition, the Bank has $2.8 million of loans secured by leases originated through this customer. The Bank continues to take steps it deems necessary to ensure the payment of the related lease payment receivables.

The Banks net loss of $2.3 million for the nine months ended September 30, 2013 was $14,000 less than the loss over the same period in 2012. The provision for loan losses for the nine months ended September 30, 2013 was $2.6 million, an increase of $980,000 as compared to $1.6 million for the nine months ended September 30, 2012. Net interest income decreased by $199,000 from $4.2 million to $4.0 million for the nine months ended September 30, 2012 and 2013, respectively. These negative variances were offset by an increase of $686,000 in non-interest income, a decrease of $482,000 in non-interest expense and a $24,000 reduction in our provision for income taxes.

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Liberty Bell Bank Reports Third Quarter 2013 Results of Operations

Liberty Media Corp. (LMCA) reported disappointing financial results for the third quarter of 2013, with earnings per share of 63 cents lagging the Zacks Consensus Estimate of 68 cents. Quarterly GAAP net income was $76 million compared with $221 million in the year-ago quarter.

The total revenue was $1,110 million compared with a mere $154 million in the prior-year quarter but fell below the Zacks Consensus Estimate of $1,130 million.

The top-line upswing can be attributed to significant contribution from Liberty Medias majority controlling stake in SIRIUS XM Radio Inc. (SIRI). In addition to SIRIUS XM, the company has stakes in both Live Nation Entertainment Inc. (LYV) and Charter Communications Inc. (CHTR). Liberty Media currently has a Zacks Rank #3 (Hold).

In the second quarter of 2013, Liberty Medias adjusted operating income before depreciation and amortization came in at $379 million compared with a meager $30 million in the year-ago quarter. Quarterly operating income was $248 million as against $10 million in the prior-year quarter.

During the first nine months of 2013, Liberty Media generated $889 million of cash from operations compared with $53 million in the prior-year period. Free cash flow in the reported period was $757 million as against $48 million in the year-ago period.

At the end of the first nine months of 2013, Liberty Media had $2,446 million of cash and cash equivalents against $2,745 million at the end of 2012. The total debt, at the end of the reported quarter, was $4,881 million compared with $540 million at the end of 2012. At the end of the third quarter, the debt-to-capitalization ratio was 0.15 compared with 0.08 at the end of 2012.

Zacks Investment Research

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Liberty Media Misses on Earnings, Revs

Grand Theft Auto San Andreas Gameplay / SSoHThrough Part 77 - Back to Liberty City
If you enjoyed the video please leave a like - I #39;d really appreciate it, thanks 😀 Too bad shotgun rain is too good for me Grand Theft Auto San Andreas playl...

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Grand Theft Auto San Andreas Gameplay / SSoHThrough Part 77 - Back to Liberty City - Video

Grand Theft Auto [GTA 3] - Walkthrough Let #39;s Play - 8 Ball - Give Me Liberty #2
Watch more funny Grand Theft Auto III videos in playlist - http://www.youtube.com/playlist?list=PL8wZKON07iXVK92lMpT8ON-FAXxfumPpX Grand Theft Auto III is a ...

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Grand Theft Auto [GTA 3] - Walkthrough Let's Play - 8 Ball - Give Me Liberty #2 - Video

LEGO Marvel Super Heroes: Universe in Peril (3DS/Vita) Walkthrough Part 21 - Liberty Head Boss
LEGO Marvel Super Heroes: Universe in Peril part 21 (Nintendo 3DS walkthrough). This video contains the boss mission for chapter 11 in LEGO Marvel Super Hero...

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LEGO Marvel Super Heroes: Universe in Peril (3DS/Vita) Walkthrough Part 21 - Liberty Head Boss - Video

Chid Liberty freely admits that, as a kid, he didnt really understand where he came from. The son of an exiled Liberian diplomat, he lived his life abroad in Germany and the United States, where his dad taught African history. Surrounded by a social circle comprised largely of other African diplomats and their families, it never occurred to the budding entrepreneur the privilege into which hed been born. I thought Africans drove Benzes and dressed up every day and went to the best schools, he says of his worldview at the time. It even messed up my orientation on things like race, because we had all different kinds of people working in my house as a kid--German, Indian, Turkish--and all of them were serving us in some way. So I just kind of grew up thinking that Africans were at the top of the food chain.

It wasnt until around seventh grade, when he read about the actual conditions of life in Liberia, that his perceptions began to change. When I read only 2% of people have a telephone, I was so confused, he says. I started to really understand my place.

When Liberty was 18, his father passed away, and he started to itch to go back. But it was the efforts of Nobel Peace Prize winners Leymah Gbowee, President Ellen Sirleaf, and the Liberian Womens Peace Movement--which helped end 15 years of civil war--that set the wheels in motion for his return. I just thought that was really cool from a social change standpoint, Liberty says. I was in Silicon Valley working with tech startups as a finance person, and I thought, All right, well, I think I can apply that skill to providing economic opportunities for women. And decided to come here and try, in an industry that I knew absolutely nothing about.

Liberty and Justice, the company he co-founded with Adam Butlein in 2010, is now Africas first fair-trade-certified apparel manufacturer, making tops and bottoms for brands like Prana, FEED Projects, Haggar, and other large buyers in the U.S. The workers at the company's factories in Liberia and Ghana are 90% female, and paid 20% higher wages than their peers on average. Together, the employees also own a 49% stake in the enterprise, while L and Js 51% gets channelled back into community development.

We really try to be worker focused, Liberty says, and we actually think thats what gave us a cutting edge at the end of the day: having really devoted workers. People dont really believe in these types of factories in Africa, because they believe that African workers arent motivated. I think thats hogwash.

Still, hes not exaggerating when he says he knew nothing about the industry at first. For example, when he first sold the idea to investors--convincing some heavy hitters in the impact capital world to travel to Liberia to see what they were creating--he didnt exactly have everything up and running. In fact, he didnt even have a factory yet. I knew my aunt had a building that I might be able to use, he says. But no lease on the building, no. No nothing. Just some emails back and forth."

Eventually, he did raise money from those same investors, but it took more than a year of additional relationship-building to repair the damage and do the convincing.

Some of the company's early mistakes, however, turned out to be unlikely advantages. We hired an amazing consultant who came to set up the factory, train the workers, so on and so forth, Liberty remembers. But as soon as they got in there, they told us how backwards we were.

They had done pretty much everything wrong, including hiring an initial workforce of women in their 30s, 40s, and 50s. For the typical garment factory, Liberty says, the average age is probably 23. I just assumed any able-bodied person could sew. I didnt realize that, in China, its like an Olympic sport, and thats how they get the productivity numbers. Our trainer felt like we might as well get rid of everybody.

Instead, Liberty decided to bite the bullet and really invest in the workforce he had in place, a risk that has indeed led to competitive productivity levels, as well as pretty inspiring workplace vibe. These older women really set the culture of the Liberian Womens Sewing Project, our first factory, Liberty says. They come to work an hour early--we never asked them to do that--they pray and sing together before they get on the machines, theyre very serious about the details of how your uniform should look, and you just wouldnt have gotten that out of a bunch of 19-year-old girls the first time so thats a mistake that turned out pretty well.

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Africa's First Fair–Trade Garment Manufacturer Is A Model For Women's Empowerment

ANTONIA - Video Update [Arad, Liberty Center, Mizil] - #31
more info at: http://www.thisisantonia.com.

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ANTONIA - Video Update [Arad, Liberty Center, Mizil] - #31 - Video

NH House Democrat Laura Pantelakos:"I Don #39;t Care About Protecting People #39;s Liberty"
This is video of the discussion immediately after Criminal Justice Committee Chair Laura Pantelakos, discussing legislation to authorize license plate scanne...

By: Steve Mac Donald

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NH House Democrat Laura Pantelakos:"I Don't Care About Protecting People's Liberty" - Video

Ron Paul stands up to Chris Mathews on Healthcare and Personal Liberty We Can #39;t Protect People Fro
Please like, subscribe, and favorite our channel to help us out. All videos are for educational purposes only and are in accordance with the Internet Fair Us...

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Ron Paul stands up to Chris Mathews on Healthcare and Personal Liberty We Can't Protect People Fro - Video