Deals of the Hour

Trying to find out what's the deal with the world, tracking what's on sale and who's talking about it on Twitter. Update hourly.

Deals of the Hour / November 19, 2010, 1:41 pm

UPDATE 1-Cabot to sell certain midstream assets for $150 mln

* Deal includes 25-year gathering agreement * Says deal includes 75 miles of gathering pipelines Nov 18 (Reuters) - Cabot Oil & Gas Corp ( COG.N ) said it will sell its Pennsylvania midstream assets to a unit of Williams Partners L.P. ( WPZ.N ) for $150 ... (Source: Reuters 2010-11-18T23:19:08Z)

Delay on Doctors' Medicare Pay Cut Gives Time for Longer Fix

Nov. 19 (Bloomberg) -- A one-month deal to delay a 23 percent reduction to doctors' Medicare pay rates will buy more time for U.S. lawmakers who are seeking to hold off future cuts. Medicare, the U.S. government health insurance program for the elderly ... (Source: BusinessWeek 2010-11-19T05:02:43Z)

Deal reached to postpone doctors' Medicare cut

Lawmakers of both parties have struck a deal to postpone a massive cut in Medicare pay for doctors, two senators said Thursday. The agreement between Senate Finance Committee Chairman Max Baucus, D-Mont., and the panel's top Republican, Charles Grassley of ... (Source: Salon 2010-11-18T22:36:11Z)

Barefoot Bandit' to Repay Victims With Movie, Book Deal Profits

Colton Harris-Moore's lawyer says he was "very reluctant to make a dime off" his crimes, but "changed his mind" when he learned he could gain a more favorable plea deal. The "Barefoot Bandit" may repay his victims by selling a movie or book about ... (Source: Hollywood Reporter 2010-11-19T14:35:23Z)

Prudential Sells Stock at $54.50 a Share for AIG Deal

Nov. 12 (Bloomberg) -- Prudential Financial Inc., the second-biggest U.S. life insurer, sold stock at $54.50 a share, below yesterday's closing price, to raise about $1 billion and help pay for two units from American International Group Inc. Prudential ... (Source: BusinessWeek 2010-11-12T21:17:24Z)

FDA cracks down on caffeine-laced alcohol drinks

RICHMOND – The U.S. Food & Drug Administration has warned four manufacturers that the caffeine added to seven malt beverage products was an "unsafe food additive," which makes the products adulterated food products under federal regulations. The ... (Source: Vancouver Business Journal 2010-11-19T07:47:22Z)

Williams launches major expansion to it Marcellus Shale midstream presence

Williams Partners L.P. ( NYSE: WPZ ) is significantly expanding its midstream business in Pennsylvania's Marcellus Shale . The partnership has agreed to acquire Cabot Oil & Gas Corporation's ( NYSE: COG ) midstream assets located in Susquehanna County, Pa ... (Source: PennEnergy 2010-11-19T18:31:37Z)

Sears Holdings loss widens in 3rd quarter

NEW YORK (AP) -- Sears Holdings Corp.'s third-quarter loss widened more than expected, dragged down by weak revenue at its long-suffering Sears chain, hurt by poor sales of appliances and clothing. Business at its Kmart discount stores held up better, but ... (Source: Yahoo Finance 2010-11-18T16:16:47Z)

AIG Extends Offer To Exchange Its Equity Units

American International Group, Inc. (AIG) announced today that it has extended its offer to exchange up to 74,480,000 of its Equity Units consisting of Corporate Units for consideration per Corporate Unit equal to 0.09867 shares of its common stock plus $3 ... (Source: Street.Com 2010-11-17T22:08:44Z)

Florida Supreme Court upholds issue of bonds for U.S. Sugar land deal

The Florida Supreme Court on Thursday belatedly upheld a defunct state plan to float bonds to pay for a $536 million, 73,000-acre land deal with U.S. Sugar Corp. -- but the judicial approval came tempered by an important exception and a pointed critique ... (Source: Miami Herald 2010-11-19T05:59:59Z)

Twins reward Gardenhire with extension through '13

MINNEAPOLIS—Ron Gardenhire has never found a use for an agent. Whenever the time has come for the Minnesota Twins to address his contract, he has simply sat down with his boss to get the deal done. General manager Bill Smith gave Gardenhire a two-year ... (Source: San Jose Mercury News 2010-11-18T22:50:30Z)

BBB Changes Rating System

he called a pay for play system. "The Council of BBB and CT AG are working together to enhance BBB's Ratings System. Locally, we are supportive of these steps and will continue to work towards protecting the public both consumers and businesses," Paula ... (Source: Boston Channel 2010-11-18T21:17:26Z)

AIG extends offer to exchange equity units

SAN FRANCISCO (MarketWatch) -- American International Group Inc. (NYSE:AIG) said it has extended its offer to exchange up to 74.5 million of its equity units to Nov. 23 from later Wednesday. The equity unit consists of corporate units equal to 0.09867 ... (Source: Marketwatch 2010-11-17T22:15:53Z)

Loco for Loko: Controversial Drink "Unsafe" According to FDA

The Feds are looking to can Four Loko's powerful mix. After a steady stream of controversy and concerns over the safety of caffeinated alcoholic drinks, or alcoholic energy drinks, the FDA on Wednesday announced that it warned four companies about their ... (Source: msnbc.com 2010-11-18T16:45:25Z)

Medicare Pay Cut for Doctors to Be Delayed in Deal

Nov. 18 (Bloomberg) -- A 23 percent reduction in payment rates for physicians in the Medicare program will be delayed until January under a deal proposed by U.S. senators. Without the postponement, doctors who accept patients in Medicare face lower ... (Source: BusinessWeek 2010-11-18T22:57:39Z)

Australia Acquisition Corp. Completes Initial Public Offering

NEW YORK - (Business Wire) Australia Acquisition Corp. (NASDAQ: AAC) (the "Company") announced that it has closed its initial public offering of 6,400,000 units at a price of $10.00 per unit. Each unit issued in the initial public offering consists of ... (Source: Earthtimes 2010-11-19T21:16:15Z)

Better Business Bureau makes changes: The Real Deal

East Syracuse (WSYR-TV/AP) - After allegations it accepted money in exchange for giving businesses a better grade, the Better Business Bureau is making some changes to how it rates companies and charities nationwide. Connecticut Attorney General Richard ... (Source: NewsChannel 9 WSYR 2010-11-18T22:00:23Z)

Obagi Medical Products Announces Pricing of Secondary Offering by, and Repurchase of Shares from, Selling ...

Obagi Medical Products, Inc. (NASDAQ: OMPI), a leader in topical aesthetic and therapeutic skin health systems, today announced the pricing of the secondary public offering of 2,690,244 shares of its common stock by the Stonington Capital Appreciation 1994 ... (Source: PR Inside 2010-11-19T13:16:39Z)

Sears 3Q loss widens; appliances, clothing weaken

NEW YORK (AP) -- Sears Holdings Corp.'s third-quarter loss nearly doubled, dragged down by weak sales of appliances and clothing at its long-suffering Sears chain. Business at its Kmart discount stores held up better, but a key revenue measure edged ... (Source: Yahoo Finance 2010-11-19T04:41:15Z)

Williams Partners To Buy Cabot Marcellus Shale Assets For $150 Million

Cabot Oil & Gas Corp. ( COG ) is selling some of its midstream shale assets in the Marcellus Shale in Pennsylvania to Williams Partners LP ( WPZ ) in a $150 million deal that includes a 25-year gathering agreement. Williams Partners is the holder of gas ... (Source: NASDAQ 2010-11-18T23:19:08Z)

Sears: A Retail Sector Laggard

It's been a strange marriage right from the start. Kmart, the discounter, joined with Sears, the department store retailer in 2005. The Kmart-Sears combo has been lagging in the retail sector. On Thursday, Sears Holdings ( SHLD ) posted a loss of $218 ... (Source: Bloggingstocks.com 2010-11-19T15:39:49Z)

Gardenhire gets two-year contract extension

MINNEAPOLIS — Ron Gardenhire has never found a use for an agent. Whenever the time has come for the Minnesota Twins to address his contract, he has simply sat down with his boss to get the deal done. General manager Bill Smith gave Gardenhire a two-year ... (Source: Duluth News Tribune 2010-11-19T05:31:21Z)

Twins extend Ron Gardenhire

MINNEAPOLIS -- Ron Gardenhire has never found a use for an agent. Whenever the time has come for the Minnesota Twins to address his contract, he has simply sat down with his boss to get the deal done. General manager Bill Smith gave Gardenhire a two-year ... (Source: ESPN.com 2010-11-18T23:04:49Z)

BBB Changes Rating System After Accusations of Pay to Play

The Better Business Bureau says it's abandoning a rating system that awarded rating points simply because a business was accredited. The Arlington , Va. , group was criticized by Connecticut Attorney General Richard Blumenthal for the system that he called ... (Source: News Channel 7 2010-11-19T18:24:27Z)

Court approves bonds for U.S. Sugar-Everglades deal

TALLAHASSEE -- - Florida's high court on Thursday approved using bonds to buy 46,200 acres of farmland to help restore the Everglades, one of outgoing Gov. Charlie Crist's top priorities. The seven Florida Supreme Court justices unanimously affirmed a ... (Source: Herald Tribune 2010-11-19T07:04:25Z)

Prudential Financial to offer $1 billion in stock

NEWARK, N.J. -- Prudential Financial Inc. said Wednesday it will undertake a $1 billion public offering of its common stock to finance the purchase of two companies. Prudential shares fell 68 cents to $55.10 in after-hours trading following the ... (Source: Forbes 2010-11-10T23:42:56Z)

Florida Supreme Court ruling supports Everglades land deal, water district says

A Florida Supreme Court ruling Thursday affirmed the public purpose of a historic purchase of sugar land for Everglades restoration, and approved the South Florida Water Management District's use of bonds to finance much of it. Water management officials ... (Source: Palm Beach Interactive 2010-11-19T01:27:59Z)

'Barefoot Bandit' pleads not guilty to crimes

SEATTLE (KABC) -- The so-called "Barefoot Bandit" is reportedly working on a plea deal on both federal and state charges against him. Harris-Moore is accused of going on a crime spree that began in 2008 after he walked out of a Seattle halfway house ... (Source: KABC 2010-11-18T19:58:42Z)

FDA warns drink makers to deal with 'blackout in a can'

Morning to night, Robert Hubbard has watched customers leave his Luichi's Mini Mart with what some call "blackout in a can." They're brain-bending alcoholic beverages — 23.5-ounce towers of high-level alcohol and caffeine, the equivalent of as ... (Source: Kansas City Star 2010-11-18T06:15:30Z)

Barefoot Bandit' Suspect Weighs Book Deal

SEATTLE (AP) — The lawyer for the teenager accused of being the "Barefoot Bandit" is working with prosecutors to negotiate a plea deal the lawyer says could involve using movie- or book-deal profits to compensate the victims of an alleged two-year ... (Source: New York Times 2010-11-19T02:39:34Z)

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