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While the recently passed housing stimulus package helps first-time homebuyers to enter the housing market, Pulte Homes (NYSE:PHM) is giving an even broader boost to buyers as it launches its “Jump-Start” promotion for all Pulte homebuyers. Every buyer who signs a purchase agreement on a new Pulte, Del Webb or DiVosta home from August 5 through September 15, 2008 is eligible for at least $7,500 in savings in addition to any government-sponsored tax credits that may apply to their home purchase.

“Pulte Homes fully supports the tax credit and steps taken in the housing stimulus plan to provide an infusion of buyer confidence within the housing industry,” said Richard J. Dugas, Jr., president and chief executive officer of Pulte Homes. “While we expect the tax credit to get more first-time homebuyers off the sidelines and into a home, we wanted to stimulate home buyers and sellers at all points on the homeownership spectrum. The Jump-Start promotion ensures that all Pulte homebuyers receive at least $7,500 in savings in recognition of this legislation.”

Pulte Homes’ Jump-Start promotion applies to new purchase agreements executed between August 5, 2008 and September 15, 2008 on Pulte, Del Webb and DiVosta homes. Jump-Start offerings vary by community and may be part of or added to existing offers. Contact a local Pulte Homes community for more details by visiting www.pulte.com or calling (888) 68-PULTE.

About Pulte Homes

Pulte Homes, Inc., based in Bloomfield Hills, Mich., is one of America’s largest home building companies with operations in 50 markets and 26 states. During its 58-year history, the company has delivered more than 500,000 new homes. Since 2000, Pulte Homes operations have earned more top-three finishes than any other homebuilder in the annual J.D. Power and Associates(R) New Home-Builder Customer Satisfaction Study(SM). Under its Del Webb brand, Pulte is the nation’s largest builder of active adult communities for people age 55 and older. Its DiVosta Homes brand is renowned in Florida for its Built Solid(TM) building system and distinctive master-planned communities. Pulte Mortgage LLC is a nationwide lender offering Pulte customers a wide variety of loan products and superior service.

Websites: www.pulte.com; www.delwebb.com; www.divosta.com

Source: Pulte Homes, Inc.

Global Payments Inc. (NYSE:GPN) , a leading provider of electronic transaction processing solutions, announced today that its board of directors approved a fourth quarter dividend of $0.02 per common share payable August 31, 2008 to shareholders of record as of August 18, 2008.

Global Payments Inc. (NYSE:GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies, and multi-national corporations located throughout the United States, Canada, Latin America, Europe, the United Kingdom, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company also provides consumer money transfer services from the United States and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit http://www.globalpaymentsinc.com/.

Source: Global Payments Inc.

Grubb & Ellis Company (NYSE:GBE) , a leading real estate services and investment management firm, today announced that it has amended its $75 million senior secured revolving credit facility with Deutsche Bank Trust Company Americas.

The amendment principally modifies and provides for an extension through March 31, 2009 to dispose of the three real estate assets that the Company had previously acquired on behalf of Grubb & Ellis Realty Advisors, Inc.

In addition, select debt covenants for the facility have been modified to provide additional flexibility to facilitate the Company’s 1031 tenant-in-common programs.

About Grubb & Ellis

Grubb & Ellis Company (NYSE:GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges, public non-traded real estate investment trusts (REITs) and real estate investment funds. As of June 30, 2008, more than $3.6 billion in investor equity has been raised for these investment programs. The Company and its subsidiaries currently manage a growing portfolio of more than 218 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation’s Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/.

Source: Grubb & Ellis Company

Economy Pivotal to Core Block of Voters Necessary to Win Election, Research To Be Released At Launch Of New Economic War Room

Campaign for America’s Future co-director Robert Borosage will join Democratic pollster Celinda Lake and psychology professor and noted author Drew Westen to launch a major new economic war room on a conference call with reporters on Wednesday.

Lake and Westen will discuss findings from their recent polls and focus groups that show Americans are increasingly convinced the country is on the edge of a depression and that Washington is not responding adequately. The results further show that economic problems are creating deep discontent that may decisively sway large groups of independents and middle-of-the-road voters necessary to determine the outcome of the upcoming presidential election.

The Campaign for America’s Future’s economic war room will deliver poll-tested talking points to progressive candidates, elected officials, bloggers, labor leaders and activists, tying the latest research by the Economic Policy Institute to the freshest opinion research by top strategists.

NEWS CONFERENCE CALL TO RELEASE PUBLIC OPINION DATA AND LAUNCH ECONOMIC MESSAGE WAR ROOM

DATE: Wednesday, Aug. 6, 2008
TIME: 2 p.m. ET
CALL-IN: (888) 205-6743, code 6466161
PARTICIPANTS:

Robert Borosage, co-dir., Campaign for America’s Future

Celinda Lake, president, Lake Research Partners

Drew Westen, professor, Emory University and author, “The Political Brain”
**NOTE: Space is limited. Media representatives interested in participating in Wednesday’s call should reserve a line by contacting Hillary Hampton at hhampton@ourfuture.org.**

Source: Campaign for America’s Future

See Market Conditions Improving in 2009; SEC Compensation Disclosures a Challenge

Gavin Anderson & Company’s second annual survey of leading IPO attorneys found them far more optimistic than in 2007 that the U.S. will retain its share of global equity issuance. Globally converging accounting standards and the prospect of further relaxation of U.S. regulations affecting foreign issuers were important factors in the change in view.

“These findings are encouraging to companies planning an IPO,” said Richard Mahony, head of the New York office of Gavin Anderson. “Despite the difficult market conditions this year, top IPO attorneys generally believe that credit and liquidity concerns will ease and regulatory burdens will diminish.”

The SEC’s new Compensation Discussion & Analysis requirements emerged for the first time as a significantly challenging section of a company’s Form S-1 filing, cited by a fifth of the respondents in this year’s survey. At the same time, the percentage of respondents citing the preparation of financial statements as the chief S-1 challenge fell to 43% this year from 74% in 2007.

“Under the SEC’s new requirements, companies now must address executive compensation in a detailed manner, providing a more complete picture and greater transparency,” noted attorney Michael Kaplan of Davis Polk & Wardwell. “In particular, these new requirements focus on the disclosure of performance targets in setting compensation, and disclosing these targets discomforts many companies.”

Other findings in the 2008 survey of 57 top IPO attorneys, who have advised on more than US$17.4 billion of transactions, were:

• 93% of the respondents believe that new equity issuance will be “much stronger” to “slightly stronger” in 2009. The most frequently cited factors holding back the current IPO market include “lack of liquidity,” “investor fear” and “low valuations.” Colin Diamond of White & Case said: “Overall, actual pricings and deals going to market have dropped dramatically since last year, but what we are still seeing is that filings are holding up much better than pricings, and people are still planning for deals in the second half of this year and next year.”

• Chinese companies continue to be seen as the dominant country of origin for global IPOs in the months ahead, receiving 44% of mentions. India was the second most mentioned country for likely new issuers, with 17% of mentions.

• Alternative energy led in the mentions of most likely industry sectors for IPOs in the coming months, with 28% of the total. Second was Biotech / Healthcare (22%), followed by technology (20%) and traditional energy companies (19%).

• Almost half the respondents expect SPACs (Special Purpose Acquisition Companies) to remain a significant source of new issuance. “People are very receptive to SPACS, and the economics of these structures are attractive to certain investors, like hedge funds,” noted Richard Aftanas of Skadden Arps.

One factor cited as making the U.S. IPO market more attractive globally has been the Securities and Exchange Commission’s decision to allow foreign issuers to use International Financial Reporting Standards (IFRS) rather than U.S. GAAP reporting standards. Forty-one of 57 top IPO lawyers responding said a shift to IFRS has had a positive impact on issuers’ attitude toward U.S. listings.

About 40% of respondents interviewed said they expect further changes in Sarbanes Oxley or other regulations that would ease the reporting burden on foreign issuers.

“There is likely to be a continuing, if gradual, evolution toward the harmonization of financial reporting standards, motivated on the SEC’s side by its objective of maintaining the preeminence of the U.S. capital markets,” said attorney Jonathan Kravetz at Mintz Levin.

Even without regulatory changes, the top IPO lawyers were more optimistic about the ability of the U.S. to retain its share of global IPOs than they were in 2007’s survey. Asked the question, “Absent any change in regulations, will the U.S. share of global IPOs decrease?” the percentage of IPO attorneys responding affirmatively declined significantly to 55% from last year’s 74%.

Concern about U.S. companies turning to non-U.S. markets for IPOs and listings because of U.S. regulatory requirements was limited. Only 18 of 57 respondents “strongly agreed,” “agreed” or “somewhat agreed” with the statement: “Over the next few years, U.S.-based companies will increasingly look to IPO and list on foreign exchanges.”

The survey was conducted by telephone interview during May and June.

Source: Gavin Anderson & Company

Urban Institute report recommends better disclosures and increased competition to protect consumers

A new report by the Urban Institute finds that if payday advances are eliminated they “could be replaced by alternatives that make families even worse off.”

In “Enabling Families to Weather Emergencies and Develop the Role of Assets,” by Signe-Mary McKernan and Caroline Ratcliffe, the researchers find that low-income working families need access to small loans, such as payday advances, to help weather bad patches.

Instead of regulating prices charged on small, short-term loans, the authors argue that increasing competition will drive prices down. They express concern that regulating prices “would make fewer small, short-term loans available” and suggest that prices can be driven down, not by setting rates, but by “regulating disclosures; requiring licensing, reporting, and examinations; and creating incentives for financial institutions to provide small loan services.”

“The Urban Institute understands that eliminating payday advances is not in the best interest of working families,” said D. Lynn DeVault, president, Community Financial Services Association of America. “Its recommendations ensure that consumers would be aware of all of the fees associated with a credit product so they can compare their alternatives and make an educated decision based on what is best for them.”

Specific policy recommendations in the Urban Institute report:

• Disclosures. Regulate standard, clear, and timely disclosures of the total loan cost so consumers know their full obligation and can easily compare what various lenders charge for loans…Stating the fee as a dollar amount instead of or in addition to the annual percentage rate (APR) may be easier for consumers to understand on short-term loans.

• Longer-Term Products. Develop a longer-term loan product for habitual users — those who rely on short-term loans frequently or for long periods — is needed. Regulating disclosures and creating incentives for traditional financial institutions to provide small loans would create this product de facto.

Highlights available at http://www.cfsa.net/FullDisclosures.html.

Full report available at http://www.urban.org/UploadedPDF/411734_enabling_families.pdf.

Source: Community Financial Services Association of America (CFSA)

Economic anxiety is not just rising, it is sprinting its way to new heights, with 61 percent of consumers saying they feel high or severe levels of anxiety, according to the most recent Yankelovich study fielded in June 2008.

The latest Yankelovich tracking of economic worries finds that 37 percent of consumers feel severe economic anxiety, a number that has nearly tripled in only six months. In the first wave of tracking in January 2008, only 14 percent of consumers felt severe economic anxiety, while 19 percent felt high anxiety and 32 percent felt moderate anxiety.

“As the price of gas and other necessities rise, consumer anxiety is following suit,” said J. Walker Smith, president of Yankelovich MONITOR. “This has huge implications for marketers, because people will continue to make significant cutbacks.” According to Smith, the often ambiguous and sometimes conflicting economic indicators don’t show the reality of the current economy.

“What matters is what people feel. And what people feel right now is verging on panic,” said Smith. “What the economy needs most right now is firm, confident leadership — a strong voice to steady the nerves and boost the resolve of consumers.”

The big question is who will step up to calm consumer anxiety. “Political leaders aren’t doing it, so business leaders must,” Smith said. “Our data show a clear need for something in addition to a fiscal stimulus; there is a huge need for leadership. Economic anxiety is too high to be solely a function of pocketbooks alone. People want to budget, economize and save money, but they want a reason to believe in their economic futures again, too.”

Source: Yankelovich

Homes Will Be Auctioned August 12th-17th in Jacksonville, Tampa, Ft. Myers, Miami/Ft. Lauderdale, Orlando and Other Cities

Swelling foreclosure rates in states like Florida have home prices plunging, making it a great time for investors or first time homebuyers to dive into the market and purchase property at bargain prices. In this hobbled housing market, bank-owned foreclosure auctions allow buyers to grab even bigger discounts on homes because lenders are eager to dispose of these properties. Hudson & Marshall, the country’s most experienced foreclosure auction firm, will auction nearly 700 bank-owned homes in cities throughout Florida on August 12th -17th.

Nearly 100 homes will be auctioned in Tampa on August 13th and over 200 homes will be auctioned in the Miami/Ft. Lauderdale area on August 16th. On August 17th over 100 homes will be auctioned in Orlando. All the properties come with title insurance paid for by the sellers. Winning bidders will be required to make a $2500 deposit in the form of cash or certified funds for each property on which they are the successful bidder.

“Years ago, people used to think of foreclosures as strictly distressed property in need of repairs but that’s not really the case anymore,” said Dave Webb, Principal, Hudson & Marshall. “Savvy buyers in today’s real estate market understand foreclosures make great investments because they often look just like the property next door but can be purchased at a much better price,” added Webb.

Florida continues to get battered by foreclosures. According to Realtytrac(R), Florida reported the nation’s fourth highest state foreclosure rate in the second quarter of 2008 with one in every 78 households receiving a foreclosure filing. This is more than twice the national average.

Each property is sold “as-is” and buyers should inspect the homes before placing any bids. An open house is scheduled for Saturday, August 9th and Sunday, August 10th from 1:00pm-3:00pm. Properties may also be viewed by contacting the listing agent and making an appointment. A complete list of properties and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Hudson & Marshall will auction the Florida homes in the following major cities: Ft. Walton-August 12th (12 homes); Panama City Beach-August 12th (5 homes); Jacksonville-August 12th (36 homes); Gainesville-August 13th (8 homes); Palm Bay-August 13th (19 homes); Tampa-August 13th (90 homes); Port Charlotte-August 14th (25 homes); Port St. Lucie-August 14th (21 homes); West Palm Beach-August 14th (18 homes); Ft. Myers-August 14th (69 homes); Sebring-August 15th (5 homes); Miami/Ft.Lauderdale-August 16th (253 homes); and Orlando-August 17th (123 homes).

Prior to the auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers usually respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. The company’s accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall’s total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

Source: Hudson & Marshall of Texas Inc.

Gushan Environmental Energy Limited (”Gushan”; NYSE: GU), China’s largest producer of biodiesel as measured by annual production capacity, today announced that due to recent heightened enforcement of traffic control measures adopted by the Beijing municipal government in preparation for the hosting of the Beijing 2008 Olympic and Paralympic games, it will temporarily suspend operations at its Beijing plant from August 1, 2008 to September 20, 2008. Such traffic control measures require, among other things, that vehicles operating in and out of Beijing meet a certain emission standards, that vehicles be driven on alternate days, depending on whether their license plates are even-numbered or odd-numbered and regulate or limit the transportation of hazardous chemicals by road, which Gushan believes has restricted the ability of its suppliers to deliver raw materials to the Beijing plant.

“Although Gushan has not received any suspension or shut-down notice from the PRC government, we believe that the government’s recent strict enforcement of measures controlling the movement of vehicles and goods in and out of the Beijing area have rendered biodiesel production at our Beijing plant impractical for the time being. We expect to resume biodiesel production at our Beijing plant after September 20,” said Jianqiu Yu, Chairman of Gushan.

As a result of this suspension, based on current circumstances and barring any unforeseen events, Gushan expects that the total 2008 biodiesel production volume produced by its Beijing plant will be reduced by approximately 10,000 tons, or approximately 3 million gallons, which it anticipates will reduce its overall production levels for the year.

Source: Gushan Environmental Energy Limited

XBRL Filings Revenue Increases by 177%

EDGAR(R) Online(R), Inc. (NASDAQ:EDGR) today announced that revenues increased 13% to $4.9 million for the quarter ended June 30, 2008, compared to $4.4 million for the same quarter last year. Total revenue for the six months ended June 30, 2008 increased 17% to $9.9 million, compared to $8.5 million in the same period prior year. Adjusted EBITDA, which has improved sequentially since the first quarter of 2007, increased $717,000 to $210,000 for the quarter ended June 30, 2008, compared to ($507,000) for the same quarter last year. Adjusted EBITDA for the six months ended June 30, 2008 increased $1.8 million to $385,000, compared to ($1.4 million) in the same period prior year. EDGAR Online is a leading provider of business and financial information on global companies.

“We are pleased with our performance this quarter. Despite the current uncertain economic conditions, we have been able to deliver double-digit revenue growth across our business and improvements in EBITDA. Our data and solutions business continues to grow at greater than 20% year over year and has eclipsed our legacy businesses. We are particularly proud of the stellar growth we’ve had in our XBRL filings business. The May announcement by the SEC of a proposed mandate of XBRL filings for all 12,000 filers in the US equities market has accelerated this business. We have created over 100 XBRL filings year to date. Over 80 percent of these filings have been created since this May announcement. As of the end of the second quarter of 2008, we have created 42% of all corporate XBRL filings filed up on SEC.GOV. Clearly, the market is moving to XBRL and customers are seeing the value in our low-cost high-fidelity solution. We are proud that our financial results are starting to demonstrate the value proposition of our XBRL technologies for customers and stockholders,” said Philip Moyer, EDGAR Online President and CEO.

Operating loss was ($551,000), or ($0.02) per share, for the three months ended June 30, 2008 compared to ($2.3 million), or ($0.09) per share, for the same quarter last year. The improvement of $1.75 million in operating loss for the second quarter of 2008 (as compared to the second quarter of 2007) was primarily due to an increase in revenues of $560,000, lower operating expenses, and non-recurring charges of approximately $1 million due to severance costs and sales tax accrual. Net loss was ($687,000), or ($0.03) per share, for the three months ended June 30, 2008 compared to ($2.4 million), or ($0.09) per share, for the same quarter last year. Operating loss was ($1.2 million), or ($0.04) per share, for the six months ended June 30, 2008 compared to ($3.9 million), or ($0.15) per share, for the same period last year. Net loss was ($1.4 million), or ($0.05) per share, for the six months ended June 30, 2008 compared to ($4.0 million), or ($0.15) per share, for the same period last year.

Deferred revenue increased 13% to $4.7 million at June 30, 2008, compared to $4.1 million at December 31, 2007. Deferred revenue represents amounts billed to customers that will be recognized as revenue in future quarters as the Company’s subscription and data products are utilized. At June 30, 2008, cash, cash equivalents and short-term investments totaled $2.9 million, compared to $3.8 million at December 31, 2007.

In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA also excludes severance costs, a non-recurring charge related to a sales tax audit settlement and the non-cash charge for stock compensation expense. As required by the SEC, the Company provides the above reconciliation to net loss, which is the most directly comparable GAAP measure. The Company presents adjusted EBITDA as it is a common alternative measure of performance that is used by management as well as investors when analyzing the financial position and operating performance of the Company by excluding certain non-cash expenses, such as stock compensation expense, as well as non-operating items that are not indicative of its core operating results. Further, this non-GAAP financial measure is one of the primary indicators management uses for planning and forecasting future periods. As adjusted EBITDA is a non-GAAP financial measure, it should not be considered in isolation or as a substitute for net loss or any other GAAP measure. Because not all companies calculate adjusted EBITDA in the same manner, the Company’s definition of adjusted EBITDA might not be consistent with that of other companies.

EDGAR Online will hold its quarterly conference call to review results for the quarter ended June 30, 2008 today, Tuesday, July 29, 2008, at 5:00 p.m. EDT. Philip Moyer, CEO and President, and John Ferrara, CFO, will host the call. To participate, please call (866) 334-3876 (toll-free for domestic callers), or (416) 849-4292 (international callers). The call will also be broadcast simultaneously over the Internet at: http://www.edgar-online.com/investor/. The teleconference replay will be available for approximately one week beginning at 7 p.m. on July 29, 2008 by calling (866) 245-6755 (domestic) or (416) 915-1035 (international), passcode 678857.

Source: EDGAR Online, Inc.