Not everything that counts can be counted, and not everything that can be counted counts.
~ Sign hanging in Einstein's office at Princeton
5.10.2006
Optional Data Entry
5.08.2006
Silicon Graphics Files Chap. 11
For Chapter 11 Protection
A WALL STREET JOURNAL ONLINE NEWS ROUNDUP
May 8, 2006 9:32 a.m.
Silicon Graphics Inc., a long-struggling maker of high-performance computers, filed for Chapter 11 bankruptcy protection.
A group of bondholders agreed to trade their debt for a stake in the company, which filed for Chapter 11 protection Monday morning in U.S. Bankruptcy Court in New York.
Silicon Graphics is known for desktop workstations and larger server systems that are favored by engineers and others who demand sophisticated graphics, including Hollywood studios. But the company has suffered a long slide, partly due to competition from machines based on standard components used in personal computers.
The Mountain View, Calif., company, which employs more than 1,800 people world-wide, listed assets of $369.4 million and debt of $664.3 million in its bankruptcy filing. Earlier this year, Silicon Graphics replaced its top executive amid widening losses and lower revenue. It posted a $76 million net loss on sales of $730 million in 2005.
Under the broad outlines of the debt-for-equity plan, holders of Silicon Graphics' 6.5% and 11.75% secured notes due 2009 will swap their claims for a 25% stake in the reorganized company. The bondholders, who are owed about $191 million, will also receive the right to buy the remaining 75% of new shares in the reorganized Silicon Graphics.
The bondholders will also provide Silicon Graphics with $70 million in debtor-in-possession, or DIP, financing and will backstop a $50 million rights offering. A group of subordinated bondholders, owed $56.8 million, will receive nothing under the proposed plan.
Silicon Graphics' stock was recently delisted from the New York Stock Exchange for trading below a minimum threshold of $1 a share, and now trades on the small-cap OTC Bulletin Board.
On Monday, the company said its fiscal third-quarter loss narrowed to $42.7 million, or 16 cents a share, from $44.5 million, or 17 cents a share, a year earlier. Revenue fell to $108.1 million from last year's $159.2 million.
5.06.2006
Sex Toys Tax-Deductible
Friday, May 5, 2006
SYDNEY, Australia - Prostitutes, strippers and lap dancers can claim tax deductions for adult toys and lingerie, officials said Friday, as the Australian Taxation Office issued a list of deductible items for the sex industry.
Condoms, lubricants, gels and oils are among a myriad of other items that these workers can claim against tax, according to a fact sheet issued on the office's Web site.
While they cannot claim deductions for fitness classes that keep them in shape, the tax office ruled they can claim the cost of dance lessons.
"You can claim the cost of replacing or repairing things like equipment, adult novelties and other apparatus used in your work," the office advises, under a section titled "tools of trade."
"This is just another one of our occupational lists that we put together to help people," a taxation office spokeswoman said on customary condition of anonymity.
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On the Net:
http://www.ato.gov.au
5.05.2006
Priceless
Then let him do it.
The money you save by using your cousin's buddy is nothing compared with the cost in time and money required to undo his mistakes.
Vitamin
5.03.2006
Back to You
------John Mayer
Back to you
It always comes around
Back to you
I tried to forget you
I tried to stay away
But it's too late
Over you
I'm never over
Over you
Something about you
It's just the way you move
The way you move me
I'm so good at forgetting
And I quit every game I play
But forgive me, love
I can't turn and walk away
Not this way
Back to you
It always comes around
Back to you
I walk with your shadow
I'm sleeping in my bed
With your silhouette
should have smiled in that picture
If it's the last that I'll see of you
It's the least that you
Could not do
Leave the light on,
I'll never give up on you,
Leave the light on,
For me too, for me too
Back to me
I know that it comes
Back to me
Doesn't it scare you
Your will is not as strong
As it used to be