Landes Capital Management, LLC and Altmark Holdings Limited reach resolution

Altmark Holdings Limited, the issuer of bonds baring CUSIPs 021503AC1 and 021503AD9 has reached an agreement with bondholder Landes Capital Management, LLC after receiving a notice of default in February 2014. The details of the agreement have not been made public; however, what is known is that Altmark Holdings Ltd has agreed to retroactively make the coupon payments to Landes Capital Management, LLC. In exchange Landes Capital Management, LLC has agreed to cease all collection efforts connected with the January default event. Altmark Holdings Ltd. operates as a special purpose entity and has paid down much of its debtload. The Company issued various asset-backed debt instruments. Altmark Holdings Ltd. is located at Britannic House, P.O. Box 25, Providenciales, Turks and Caicos Island, B.W.I. Registration number: E.35648. Mr. Peter Burstam, Director: +46 70 3301505 E-Mail: altmark@altmarkholdingsltd.com Landes Capital Management, LLC is a multi-discipline strategy asset management company focusing on the effect preservation and efficient growth of capital. Our mission is to provide our clients with clarity for their most complex financial situations. We offer financial clarity through expert advice and superior customer service. We feel that every client matters. Landes Capital Management, LLC strives to satisfy our clients, while offering each one a unique set of financial and business products and services. We take a practical and pragmatic approach to investing.

No Confidence in the Actions of Senior Management of Leeward Group Holdings, Inc.

For Immediate Release:

PENNINGTON, NJ, June 20, 2011 – Shareholders in Leeward Group Holdings, Inc. a wholly owned subsidiary of Principle Security International, Inc. (OTCQB: PCPZ) have sent a VOTE OF NO CONFIDENCE letter to the current Senior Management and Board of Directors. This VOTE OF NO CONFIDENCE is in response to the policies, actions, omissions, and failures of the Board of Directors and Senior Management. Leeward shares are down more than 99%, and is currently trading at $0.0045 off from its 52-week high of $0.80, with very low volume. Leeward has a negative earnings-per-share ratio and have never paid a dividend. Senior Management has failed to provide reasonable opportunities for Shareholders to participate in the elections of Leeward leadership, including the creation of proxy voting procedures; appoint Board members; publish Board minutes; or hold shareholder meetings. Further Leeward failed to deliver stock certificates to Shareholders in a timely fashion and the stock has been suspended from electronic trading. The Senior Management has held a tight grip over control of Leeward, and therefore the Board and Senior Management bear the responsibility for Leeward’s poor performance.
Leeward continues to perform poorly, consistently delivering less than stellar revenue-to-cash flow growth and significantly high debt-to-free-cash flow ratios. Even in this challenging economy Leeward is well positioned for growth, however Senior Management has failed to focused its efforts on shareholder value and ways to increase revenue. Leeward’s inability to remain intensely focused on executing its strategic plan has left the Shareholders with no other option but to express their dissatisfaction in Senior Management.
The group of Shareholders seeking change at Leeward has invested more than $1,000,000.00 collectively. Further, the Shareholders have retained the counsel of Washington, D.C. attorney William C. Johnson Jr., MBA, LL.M to explore the possibility of shareholder derivative action.
It is the opinion of the Shareholders that the integrity and business interest of Leeward (and its Affiliates and subsidiaries: Flagship Insurance Agency; Brady-Rogers, Inc.; American Bar Insurance Plans Consultants, Inc.; and Platinum Leisure Risk Purchasing Group, Inc.) will be better served through a change of leadership.
Forward-looking statements:
This press release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to that the company may: that our social media networks will provide shareholders with an understanding of our industry and business model, or that it will be an effective means to communicate our company's message; or that our investor relations section of our website will be an effective means to communicate our company's information. The user should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. The risk factors listed in our disclosure documents provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by the Company in its forward-looking statements. Actual results relating to, among other things, reserves, results of exploration, capital costs and production costs could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: changes in anticipated acquisition and operating costs; changes in economic conditions and conditions in the insurance industry and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in the prices for services that the Company provides; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which the Company operates; technological, mechanical and operational difficulties encountered in connection with the Company's activities; and labor relation matters and costs. The user should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by the Company from time to time with the Securities and Exchange Commission and other regulatory authorities.

Contact:
Leeward Group Holdings, Inc.
65 S. Main Street, Suite A300
Pennington, NJ 08534
Phone: (888) 392-6671

AND

Shareholders are represented by:
William C. Johnson, Jr. Esq., MBA, LL.M
1229 15th St. NW
Washington, D.C. 20005
(800) 394-0498 ext. 1

Not-so Friendly Skies

The Events of Sept 11 rocked the Nation at its very foundation. Three jet aircraft set off a tidal wave who's ripple affected every sector of life in America. The economy was crippled, and consumer confidence took years to recover. One of the industries hardest hit was, not surprisingly, the airlines industry. Americans responded to the "need" of the airline industry and then-President Bush signed the Air Transportation Safety and System Stabilization Act (Public. Law 107–42). This bill effectively bailed out the entire air travel industry, and was funded by the US taxpayers.

Its important to note that the airlines lost millions of dollars due to mandatory ground stops and were powerless to do anything about that. Not to mention the fact that many were too scared to fly. The bill also provided the airlines compensation for grounded flight and lost revenue. The Air Transportation Safety and System Stabilization Act is a great example of Americans supporting America.

Six years later, rising fuel prices "forced" many major air travel providers to begin charging a surcharge for checked luggage. The rationale behind this was that the additional weight of the baggage caused the aircraft to burn more fuel, and the price of fuel was affecting the profit margins of the airlines.

Not to quietly, the American air traveler accepted this new practice and understood that business much make money -- for the greater good.

In 2008 the USA was again under attack, not by a violent foe, but by a recession the likes of which most American's have never seen. Through no fault of Main Street America citizens were robbed of their homes, jobs, pensions, and dignity. The culprits wore business suits and not a ski mask, but teh results were the same. In our time of need, how does the Airline Industry repay its once generous lenders? By increasing fees, cutting flights, eliminating meals and other services.

Gas prices are stable again, yet baggage fees are still being charged... why? In fact now there is an inverse corrilation with the baggage fees: fuel prices are down, yet the price that the airlines charge for checked luggage is going up? In additional to this sckewed accounting, Spirit Airlines has reported that it will now charge as much as $45 for carry-on luggage. This is ridiculous,and orders on criminal.

If we, The People, treated the airlines the way they treated us, there would be no more airlines.

RIM is rough around the edges

Research In Motion (RIM.TO) (RIMM.O) shares fell 6 percent on Thursday after the company posted quarterly results that magnified market jitters about rivals stealing market share from the BlackBerry smartphone.
RIM reported quarterly profit, revenue, and phone shipments that were below expectations after markets closed on Wednesday, but it also posted forecast-beating gross margins and subscriber growth.

The company, which has promised that analysts will be "blown away" by product launches it has planned for the year ahead, said a one-time customer inventory adjustment hurt both sales and shipments in its fourth quarter.

But questions linger about the health of RIM's North American operations and its high-profit corporate customer base. Corporate demand sagged during the recession and executives are now slower to replace phones with new models that boast extra features.

"What I see going on here is that RIM is encountering an increasingly competitive landscape in the U.S. and that's to be expected with Android starting to gain traction and the iPhone doing well," said Needham & Co analyst Charles Wolf in an interview.

Stock picks

Adobe Systems Inc.: Standard & Poor's equity analyst Zaineb Bokhari maintained a strong buy recommendation on shares of Adobe Systems Inc. (ADBE) on Mar. 24.

Adobe, the world's biggest maker of graphic-design programs, jumped the most in 11 months in Nasdaq trading on Mar. 24 after saying it will introduce a new version of its most profitable software on Apr. 12. Adobe said on Mar. 23 that it will host an event next month to unveil Creative Suite 5, also called CS5, comprising design products including Photoshop, Dreamweaver and Illustrator. The suite will ship late this quarter, Adobe said.

The company also forecast sales that beat analysts' estimates. Second-quarter sales will be at least $875 million, Adobe said. Analysts projected $862.2 million, the average of estimates compiled by Bloomberg. Excluding some costs, profit this quarter will be 39 cents to 44 cents a share, Adobe said. Analysts estimated 41 cents on average.

First-quarter net income fell 19 percent to $127.2 million, or 24 cents a share, from $156.4 million, or 30 cents, a year earlier, partly because of costs related to its October purchase of Omniture Inc. Excluding some costs, profit in the period ended March 5 was 40 cents, topping analysts' 37-cent average estimate. Sales rose 9.2% to $858.7 million. Analysts estimated $826.4 million.

In a posting on the S&P MarketScope service, Bokhari said she sees the release of Creative Suite 5 (CS5) driving fiscal 2010 (ending November) and fiscal 2011 sales for Adobe. She added that while the health of the economy will impact the strength of the upgrade cycle, she thinks market conditions are more favorable for CS5 than for its predecessor, CS4.

The analyst said she sees higher stock compensation and interest costs ahead for Adobe, and cut her fiscal 2010 earnings per share (EPS) estimate by 7 cents to $1.40; she kept her fiscal 2011 EPS projection at $1.79.

Bokhari lifted a target price on the shares to $44 from $43.

MF Global Holdings Ltd.: Sandler O'Neill equity analyst Richard Repetto kept a buy rating on shares of MF Global Holdings Ltd. (MF) on Mar. 24.

On Mar. 23, MF Holdings, the futures and options broker, announced that former New Jersey Governor Jon Corzine has accepted offers to lead the company and become an operating partner of buyout firm J.C. Flowers & Co.

Corzine, 63, who ran Goldman Sachs Group Inc. from 1994 to 1999, becomes chairman and chief executive officer immediately, MF Global said. He takes over from Bernard Dan, 50, who is leaving for personal reasons and will stay until May 16 to aid in Corzine's transition, the company said. MF Global shares gained as much as 13% in after-market trading on Mar. 23.

Corzine said MF Global's plans to become a primary dealer in government securities are a major part of his strategy to increase revenue. He will be paid an initial salary of $1.5 million and a $1.5 million signing bonus, the company said in a Mar. 23 regulatory filing.

Repetto said in a note that Corzine has an "impressive" resume: 24 years at Goldman Sachs, including serving as CFO and Chairman; Senator from New Jersey from 2001 to 2006; and Governor of New Jersey from 2006 to 2010. "Perhaps most significantly for MF, he began his career at Goldman Sachs as a fixed income trader," he wrote. In recent quarters, MF has been expanding its fixed income offering, and the company has applied for status as a primary dealer to the New York Federal Reserve Bank, Repetto said.

"[W]e suspect the relationship between J.C. Flowers and Corzine (both prior Goldman Sachs executives) facilitated the quick appointment of Corzine as CEO," the analyst wrote. Repetto noted that J.C. Flowers & Co. holds $150 million of MF Global's Series A convertible preferred shares, and played a significant role in the restructuring of MF Global's balance sheet in mid-2008.

"A former senator could have a useful set of experience in uncertain regulatory times," Repetto said. "With OTC derivatives legislation pending before the Senate and a host of other potential U.S. and international regulatory changes possible, the appointment of Corzine could be timely."

Repetto said that MF Global disclosed that fiscal fourth quarter net revenue would be $235 million to $245 million, which at the midpoint is $30 million below his prior forecast of $270 million. He lowered his fourth-quarter EPS estimate to 2 cents from 5 cents. He also reduced EPS estimates for fiscal 2010 (ending March) to 9 cents from 12 cents, and for fiscal 2011 to 37 cents from 40 cents.

The analyst raised a price target on the shares to $8.00 from $7.50.

Swine Flu vaccines and Wall Street

Some of New York's biggest companies, including Wall Street giants Goldman Sachs and Citigroup, received doses of swine flu vaccine for at-risk employees, drawing criticism that the hard-to-find vaccine is going first to the privileged.

Hospitals, universities and the Federal Reserve Bank also got doses of the vaccine for employees who need it the most, such as pregnant women or chronically ill workers, according to the city's health department.

In order to receive the vaccine, companies had to have their own medical staff. Distributing large doses of the vaccine to such businesses is "a great avenue for vaccinating people at risk," said Jessica Scaperotti, spokeswoman for the city Department of Health and Mental Hygiene.

But critics said Wall Street firms should not have access to the vaccine before less wealthy Americans.

"Vaccines should go to people who need them most, not people who happen to work on Wall Street," Democratic Sen. Chris Dodd of Connecticut said Thursday.

"Wall Street banks have already taken so much from us. They've taken trillions of our tax dollars. They've taken away people's homes who are struggling to pay the bills," union official John VanDeventer wrote on the Web site of the 2 million-member Service Employees International Union. "But they should not be allowed to take away our health and well-being."

Meanwhile, the director of the federal Centers for Disease Control and Prevention sent a letter Thursday to state and local health departments asking them to review their distribution plans and make sure the vaccine is getting to high-risk groups.

Dr. Thomas Frieden said any decisions that appear to send vaccine beyond high-priority groups "have the potential to undermine the credibility of the program."

Swine flu vaccine has been in short supply nationwide because of manufacturing delays, resulting in long lines at clinics and patients being turned away at doctor's offices. The vaccine started trickling out in early October, and there are now nearly 36 million doses available.

The government-funded vaccine is being distributed to states, where health departments decide where to send the limited doses.

In New York, doctors at companies that have employee health services can request the vaccine along with other doctors but must agree to vaccinate only high-risk employees, Scaperotti said.

Last month, the city began offering vaccine to schoolchildren, as well as to pediatricians and obstetricians who asked for it. Scaperotti said two-thirds of the pediatricians in New York City have requested vaccine.

New Yorkers who cannot get the vaccine at work are receiving it from their doctors — if their doctors have it — or at community health clinics.

About 50 people waited to be vaccinated Thursday at a city-run clinic in Manhattan's Chelsea neighborhood. Matt Bohart said he and his 82-year-old father, Eugene Bohart, had been waiting for three hours for both swine flu and seasonal flu vaccines.

The younger Bohart said the fact that employees of some companies can get the vaccine at work seemed "not really fair."

But he added, "I don't begrudge the people who get it as long as others can get it as well."

Dr. William Schaffner, a flu expert at Vanderbilt University, said allocation of limited vaccine is tricky. CDC guidelines provide a list of patients who should be at the front of the line: children and young people through age 24, people caring for infants under 6 months, pregnant women, health care workers, and adults with health conditions such as asthma and diabetes.

Schaffner said that if corporations are giving shots to at-risk people, the distribution may have been appropriate. But he acknowledged there's "an appearance of potential irregularity."

Still, he said, "I have a feeling that if it were a Ford dealership that got vaccine, there wouldn't be quite as much excitement."

Scaperotti said 50 employers in New York City have received the vaccine so far. Besides Goldman Sachs and Citigroup, they include Time Inc. and hospitals such as Memorial Sloan-Kettering Cancer Center.

Goldman Sachs has received 200 doses, and Citigroup has received 1,200, health officials said.

In statements, Citigroup and Goldman Sachs said the vaccine would only go to those in high-risk groups.

"Goldman Sachs, like other responsible employers, has requested vaccine and will supply it only to employees who qualify," spokesman Ed Canaday said.

Morgan Stanley received 1,000 doses of the vaccine for its New York and suburban offices, but the company turned over its entire supply to local hospitals when it learned it received shipments before some area hospitals, spokeswoman Jeanmarie McFadden said.

Associated Press writers Stephen Bernard and Sara Lepro in New York City, Mike Stobbe in Atlanta and Valerie Bauman in Albany, N.Y., contributed to this report.

When do you shower?

It should come as no suprise that those who take a shower before they leave for work are being treated, by the Federal Government, better than those who shower after they come home form work. What I mean is that banks get 700 billion dollars, while auto makers get 30 billion. That hardly seems fair, when those same banks could forgive the auto-makers debt. Also the auto industry employees three times as many people as the financial indstry; in fact auto-makers are some of the banks biggest clients.

Why is a semi-socialized banking system OK but the same is not acceptable for the automakers. Unlike Citi, GM didn't have a bad business model. This hardly seems fair.