Red Lion Insulation, a wholly-owned subsidiary of Masco Corporation (MAS) recently announced its plans to expand into the Farmingdale, N.J. market to cater to the Atlantic and Cape May Counties. Hit by Hurricane Sandy, these areas require major insulation works.
Masco Corporation manufactures, sells and installs home improvement and building products. Red Lion Insulation is a part of Masco Contractor Services. Red Lion offers various forms of insulation installations such as fiberglass batt, blown fiberglass, spray foam and cellulose.
Previously, another company of Masco Contractor Services, Western Insulation, announced its plans to expand into Bakerfield, Calif. Western Insulation offers products and services like fiberglass batt and blow, fireplace installation, garage door services, gutter installation and gutter protection.
Masco Corporation will report its second quarter 2013 earnings results on Jul 30, 2013. The Zacks Consensus Estimate for the quarter stands at 19 cents per share. The Zacks Consensus Estimate for fiscal 2013 is 69 cents while that for fiscal 2014 is $1.02 per share.
Chevron Corporation (Chevron), incorporated on January 27, 1926, manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids project. Downstream operations consist primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
Upstream
At December 31, 2012, Chevron owned or had under lease or similar agreements undeveloped and developed crude oil and natural gas properties worldwide. Upstream activities in the United States are concentrated in California, the Gulf of Mexico, Colorado, Louisiana, Michigan, New Mexico, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming. During the year ended December 31, 2012, average net oil-equivalent production in the United States was 655,000 barrels per day. In 2012, net daily production averaged 163,000 barrels of crude oil, 70 million cubic feet of natural gas and 4,000 barrels of natural gas liquids (NGLs). During 2012, net daily production for the Company�� combined interests in the Gulf of Mexico shelf and deepwater areas, and the onshore fields in the region, were 153,000 barrels of crude oil, 395 million cubic feet of natural gas and 16,000 barrels of NGL.
The! Company was engaged in various exploration and development activities in the deepwater Gulf of Mexico during 2012. As of December 31, 2012, it had a 50% working interest in Jack and a 51% working interest in St. Malo Field. During 2013, the Company had 42.9% non-operated working interest in the Tubular Bells Field; 20.3% non-operated working interest in the Caesar and Tonga area, and 15.6% non-operated working interest in the Mad Dog II Project. The Company activities in the mid-continental United States include operated and non-operated interests in properties primarily in Colorado, New Mexico, Oklahoma, Texas and Wyoming. The Company holds leases in the Marcellus Shale and Utica Shale, primarily located in southwestern Pennsylvania, Ohio, and West Virginia, and in the Antrim Shale in Michigan. Other Americas is consistd of Argentina, Brazil, Canada, Colombia, Suriname, Trinidad and Tobago, and Venezuela. Net oil-equivalent production from these countries averaged 230,000 barrels per day during 2012, including the Company�� share of synthetic oil production.
Chevron�� interests in oil sands projects and shale acreage in Alberta, shale acreage and an LNG project in British Columbia, exploration, development and production projects offshore in the Atlantic region, and exploration and discovered resource interests in the Beaufort Sea region of the Northwest Territories. Average net oil-equivalent production during 2012, was 69,000 barrels per day, consisted of 25,000 barrels of crude oil, four million cubic feet of natural gas and 43,000 barrels of synthetic oil from oil sands. During 2012, the Company held a 20% non-operated working interest in the Athabasca Oil Sands Project (AOSP). In February 2013, Chevron acquired a 50%-owned and operated interest in the Kitimat LNG project and proposed Pacific Trail Pipeline, and a 50% non-operated working interest in 644,000 total acres in the Horn River and Liard shale gas basins in British Colombia; 26.9% non-operated working interest in the Hib! ernia Fie! ld and a 23.6 non-operated working interest in the unitized Hibernia Southern Extension (HSE) offshore Atlantic Canada, and 26.6% non-operated working interest in the heavy-oil Hebron Field, also offshore Atlantic Canada.
In December 2012, Chevron relinquished its 29.2% non-operated working interest in Exploration License 2007/26, which includes Block 4 offshore West Greenland. The Company holds operated interests in four concessions in the Neuquen Basin. Working interests range from 18.8% to 100%. In 2012, the net oil-equivalent production averaged 22,000 barrels per day, consisted of 21,000 barrels of crude oil and four million cubic feet of natural gas. During 2012, two exploratory wells targeting shale gas and tight oil resources were drilled in the Vaca Muerta formation in the El Trapial concession. Chevron holds working interests in three deepwater fields in the Campos Basin: Frade (51.7%-owned and operated), Papa-Terra and Maromba (37.5% and 30% non-operated working interests, respectively). Net oil-equivalent production in 2012 averaged 6,000 barrels per day, consisted of 6,000 barrels of crude oil and two million cubic feet of natural gas.
In Africa, the Company is engaged in upstream activities in Angola, Chad, Democratic Republic of the Congo, Liberia, Morocco, Nigeria, Republic of the Congo, Sierra Leone and South Africa. Net oil-equivalent production in Africa averaged 451,000 barrels per day during 2012. In Asia, the Company is engaged in upstream activities in Azerbaijan, Bangladesh, Cambodia, China, Indonesia, Kazakhstan, the Kurdistan Region of Iraq, Myanmar, the Partitioned Zone located between Saudi Arabia and Kuwait, the Philippines, Russia, Thailand, and Vietnam. During 2012, net oil-equivalent production averaged 1,061,000 barrels per day. In Australia, the Company�� upstream efforts are concentrated off the northwest coast. During 2012, the average net oil-equivalent production from Australia was 99,000 barrels per day. In Europe, the Company is engag! ed in ups! tream activities in Bulgaria, Denmark, Lithuania, the Netherlands, Norway, Poland, Romania, Ukraine and the United Kingdom. Net oil-equivalent production in Europe averaged 114,000 barrels per day during 2012.
Downstream
The Company markets petroleum products under the principal brands of Chevron, Texaco and Caltex worldwide. In the United States, the Company markets under the Chevron and Texaco brands. During 2012, the Company supplied directly or through retailers and marketers approximately 8,060 Chevron- and Texaco-branded motor vehicle service stations, primarily in the southern and western states. Approximately 470 of these outlets are company-owned or -leased stations. Outside the United States, the Company supplied directly or through retailers and marketers approximately 8,700 branded service stations, including affiliates. In British Columbia, Canada, the Company markets under the Chevron brand. The Company markets in Latin America and the Caribbean using the Texaco brand. In the Asia-Pacific region, southern Africa, Egypt and Pakistan, the Company uses the Caltex brand. The Company also operates through affiliates under various brand names. In South Korea, the Company operates through its 50%-owned affiliate, GS Caltex, and in Australia through its 50%-owned affiliate, Caltex Australia Limited.
The Company owns a 50% interest in its Chevron Phillips Chemical Company LLC (CPChem) affiliate. During 2012, CPChem owned or had joint-venture interests in 36 manufacturing facilities and two research development centers worldwide. The Company�� Oronite brand lubricant and fuel additives business is a developer, manufacturer and marketer of performance additives for lubricating oils and fuels. The Company owns and operates facilities in Brazil, France, Japan, the Netherlands, Singapore and the United States and has interests in facilities in India and Mexico. Oronite lubricant additives are blended into refined base oil to produce finished lubricant packages us! ed primar! ily in engine applications, such as passenger car, heavy-duty diesel, marine, locomotive and motorcycle engines.
Transportation
The Company owns and operates a network of crude oil, refined product, chemical, natural gas liquid and natural gas pipelines and other infrastructure assets in the United States. The Company also has direct and indirect interests in other the United States and international pipelines. All tankers in the Company�� controlled seagoing fleet were utilized during 2012. During 2012, the Company had 51 deep-sea vessels chartered on a voyage basis, or for a period of less than one year. The Company�� the United States-flagged fleet is engaged primarily in transporting refined products between the Gulf Coast and the East Coast and from California refineries to terminals on the West Coast and in Alaska and Hawaii. The foreign-flagged vessels are engaged primarily in transporting crude oil from the Middle East, Southeast Asia, the Black Sea, South America, Mexico and West Africa to ports in the United States, Europe, Australia and Asia. The Company�� foreign-flagged vessels also transport refined products to and from various locations worldwide.
Other Businesses
During 2012, the Company completed the sale of its Kemmerer, Wyoming, surface coal mine and the sale of its 50% interest in Youngs Creek Mining Company, LLC, which was formed to develop a coal mine in northern Wyoming.Chevron also owns and operates the Questa molybdenum mine in New Mexico. During 2012, it had 160 million tons of proven and probable coal reserves in the United States, including reserves of low-sulfur coal. The Company�� Global Power Company manages interests in 11 power assets with a total operating capacity of more than 2,200 megawatts, primarily through joint ventures in the United States and Asia. Chevron Energy Solutions (CES) completed several public sector programs, including a microgrid at the Santa Rita jail in Alameda County, and renewable and e! fficiency! programs for Huntington Beach City School District, South San Francisco Unified School District and Union City, all in California, plus Rootstown Local School District in Ohio. The Company�� energy technology organization supports Chevron�� upstream and downstream businesses by providing technology, services and competency development in earth sciences; reservoir and production engineering; drilling and completions; facilities engineering; manufacturing; process technology; catalysis; technical computing, and health, environment and safety disciplines.
Advisors' Opinion: - [By Chris Ciovacco]
The Energy Select Sector Spider provides exposure to a diversified basket of energy stocks, including Exxon (XOM), Chevron (CHV) and ConocoPhillips (COP). As the chart shows below, XLE has established a bullish weekly trend relative to the broader S&P 500 Index (SPY).
5 Best Building Product Stocks To Watch For 2014: Energy Transfer Equity L.P. (ETE)
Energy Transfer Equity, L.P., through its direct and indirect investments in the limited partner and general partner interests in Energy Transfer Partners, L.P., engages in midstream, intrastate, and interstate transportation of natural gas, as well as in storage of natural gas in the United States. The company?s Intrastate Transportation and Storage segment engages in the ownership and operation of natural gas transportation pipelines and natural gas storage facilities. As of December 31, 2009, it owned and operated approximately 7,800 miles of natural gas transportation pipelines and 3 natural gas storage facilities. This segment sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies on the Houston pipeline system. Its Interstate Transportation segment involves owns and operates interstate natural gas pipeline. It owned and operates approximately 2,700 miles of interstate natura l gas pipeline with an additional 180 miles under construction. The company?s Midstream segment engages in the ownership and operation of in service natural gas gathering pipelines, natural gas processing plants, natural gas treating facilities, and natural gas conditioning facilities. This segment owned and operated approximately 7,000 miles of in service natural gas gathering pipelines, 3 natural gas processing plants, 11 natural gas treating facilities, and 11 natural gas conditioning facilities. Its Retail Propane segment operates a retail distribution network consisting of approximately 440 customer service locations in approximately 40 states. The company was formerly known as La Grange Energy, L.P. Energy Transfer Equity, L.P. was founded in 2002 and is based in Dallas, Texas.
Advisors' Opinion: - [By Seth Jayson]
Energy Transfer Equity (NYSE: ETE ) reported earnings on May 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Energy Transfer Equity beat expectations on revenues and crushed expectations on earnings per share.
- [By David Dittman]
Question: What are your thoughts on Energy Transfer Equity LP (NYSE: ETE) and Energy Transfer Partners?
Answer: Great set of fee-generating assets, great growth profile supported by new large-scale pipeline projects.
- [By Robert Rapier]
The purchases will be financed with debt and the issuance of Regency units worth nearly $700 million, roughly 13 percent of the current market capitalization, with general partner Energy Transfer Equity (NYSE: ETE) buying $400 million.
- [By Paul Quintaro]
Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer Partners, L.P. (NYSE: ETP) (collectively, ��nergy Transfer�� and BG Group announced today that they have entered into a project development agreement (PDA) to jointly develop the liquefied natural gas (LNG) export project at the existing Trunkline LNG import terminal in Lake Charles, Louisiana.
5 Best Building Product Stocks To Watch For 2014: MBIA Inc (MBI)
MBIA Inc. (MBIA), incorporated on November 12, 1986, together with its consolidated subsidiaries, operates the financial guarantee insurance businesses in the industry and is a provider of asset management advisory services. These activities are managed through three business segments: United States public finance insurance, structured finance and international insurance, and advisory services. The Company�� United States public finance insurance business is operated through National Public Finance Guarantee Corporation and its subsidiaries (National), its structured finance and international insurance business is primarily operated through MBIA Insurance Corporation and its subsidiaries (MBIA Corp.), and its asset management advisory services business is primarily operated through Cutwater Holdings, LLC and its subsidiaries (Cutwater). It also manages certain business activities through its corporate, asset/liability products, and conduit segments. The corporate segment includes revenues and expenses that arise from general corporate activities. Funding programs managed through the asset/liability products and conduit segments are in wind-down.
MBIA Corp. owns MBIA UK Insurance Limited (MBIA UK), a financial guarantee insurance company that is regulated and supervised by the Financial Services Authority (FSA) in the United Kingdom and is authorized to carry out insurance business in the United Kingdom and in the European Economic Area on a cross border services basis. Its financial guarantee insurance generally provides investors with an unconditional and irrevocable guarantee of the payment of the principal, interest or other amounts owing on insured obligations when due or, in the event that the Company has the right at its discretion to accelerate insured obligations upon default or otherwise, upon its election to accelerate. The Company conducts its financial guarantee business, as well as related reinsurance, advisory and portfolio services, through its subsidiaries National Publi! c Finance Guarantee Corporation (National), its United States (United States) public finance-only financial guarantee company, and MBIA Insurance Corporation and its subsidiaries (MBIA Corp.), which write global structured finance and non-United States public finance financial guarantee insurance.
Insurance operations
The Company�� United States public finance insurance business is conducted through National, and its structured finance and international insurance operations are conducted through MBIA Corp. and its subsidiaries. It also issue insurance policies to guarantee the payment of principal and interest on municipal obligations being traded in the secondary market upon the request of a broker or an existing holder of uninsured bonds, where premium is generally paid by the owner of the obligation. In addition, the Company has provided financial guarantees to debt service reserve funds. The primary risk in its insurance operations is that of adverse credit performance in the insured portfolio. It seeks to maintain a diversified insured portfolio and have designed each insured portfolio with the aim of managing and diversifying risk based on a range of criteria, including revenue source, issue size, type of asset, industry concentrations, type of bond and geographic area.
Through the Company�� reinsurance of United States public finance financial guarantees from MBIA Corp. and Financial Guaranty Insurance Company (FGIC), National�� insurance portfolio consists of municipal bonds, including tax-exempt and taxable indebtedness of United States political subdivisions, as well as utility districts, airports, health care institutions, higher educational facilities, student loan issuers, housing authorities and other similar agencies and obligations issued by private entities that finance projects that serve a substantial public purpose. Municipal bonds and privately issued bonds used for the financing of public purpose projects are generally supported by ! taxes, as! sessments, user fees or tariffs related to the use of these projects, lease payments or other similar types of revenue streams. As of December 31, 2012, MBIA Corp. had 899 policies outstanding in its insured portfolio. In addition, MBIA Corp. had 199 insurance policies outstanding relating to asset/liability products liabilities issued by MBIA Inc. and its subsidiaries.
Advisory Services
In the Company�� asset management advisory services business its registered investment advisors provide fixed-income asset management services for third parties and the investment portfolios of the Company and its affiliates (including the wind-down businesses) on a fee-for-service basis. Its advisory services are offered in two product lines, traditional and structured. Within the traditional product line, Cutwater offers cash management, customized asset management, discretionary asset management and fund accounting services to governments, insurance companies (including the Company�� insurance subsidiaries), corporations, pension funds, unions, endowments, foundations and investment companies in both pooled and separate account formats. These services are offered through registered investment advisers, and Cutwater receives asset management and administrative fees as compensation. Within the structured product line, Cutwater manages asset/liability programs and conduits (the wind-down businesses), Collateralized debt obligations (CDOs) and other funding vehicles for banks, insurance companies, program trustees and investment companies, and it earns base and performance fees for its services. Cutwater�� advisory services are offered through two principal operating subsidiaries: Cutwater Asset Management Corp. (Cutwater-AMC), an SEC-registered investment adviser and Financial Industry Regulatory Authority (FINRA) member firm, and Cutwater Investor Services Corp. (Cutwater-ISC), an SEC-registered investment adviser.
Wind-down Business
The asset/liability produc! ts busine! ss historically raised funds for investment through two sources, such as issuance of customized investment agreements by the Company and one of its subsidiaries for bond proceeds and other funds, and issuance of medium-term notes (MTNs) with varying maturities issued by its subsidiary MBIA Global Funding, LLC (GFL). Each of these products is guaranteed by MBIA Corp. In addition, GFL would lend the proceeds of its GFL MTN issuances to MBIA Inc. (GFL Loans). The Company primarily purchased domestic securities and lent a portion of the proceeds from investment agreements and GFL MTNs to its subsidiary Euro Asset Acquisition Limited, which primarily purchased foreign assets as permitted under the Company�� investment guidelines. The Company�� conduit segment is principally operated through Meridian Funding Company, LLC (Meridian) and, formerly, Triple-A One Funding Corporation (Triple-A One). The conduits were used by banks and other financial institutions to raise funds for their customers in the capital markets. During 2012, Triple-A One was liquated. The conduits provided funding for multiple customers through special purpose vehicles that issued commercial paper and MTNs.
Advisors' Opinion: - [By Ben Levisohn]
Its big day has also boosted other insurers. Radian Group (RDN) has risen 7.2% to $14.39, while Old Republic International (ORI) has advanced 2.1% to $15.24, Genworth Financial (GNW) is up 3.6% at $13.41 and MBIA Inc. (MBI) has jumped 4.3% to $10.76.
- [By Matt Koppenheffer and David Hanson]
After years of back-and-forth, Bank of America (NYSE: BAC ) and MBIA (NYSE: MBI ) have�settled the dispute over issues stemming from legacy Countrywide practices. The Charlotte, N.C.-based bank agreed to pay $1.6 billion in cash, as well as engage in some other actions. Both stocks soared after the deal was announced on Monday.
- [By Jessica Alling]
Outside the Dow, insurer MBIA (NYSE: MBI ) is up 11.3% after settling a legal case with lender Flagstar Bancorp (NYSE: FBC ) over two mortgage-backed securities transactions. MBIA alleged that Flagstar misrepresented the securities, resulting in the insurer's payout of $165 million on the policies. Flagstar has agreed to pay MBIA $110 million to settle the case. This legal dispute is similar to the current battle between MBIA and Bank of America. The insurer recently lost its bid for a pretrial ruling on the case, driving the stock lower.
5 Best Building Product Stocks To Watch For 2014: Vistaprint NV (VPRT)
Vistaprint N.V., incorporated on June 5, 2009, is an online provider of coordinated portfolios of customized marketing products and services to micro businesses worldwide. The Company offers a range of brand identity and promotional products, marketing services and digital solutions. While the Company focuses on micro business marketing products and services, consumers also purchases its products, such as invitations and announcements, greeting cards, photo books and calendars. Customers visiting the Company's Websites can select the type of product they wish to design from its range of available products and services for the business and home and family markets, including paper based, non-paper based, and digital and marketing services. Paper based products include brochures, business cards, data sheets, desk and wall calendars, envelopes, flyers, folded business cards, folded cards, holiday cards, and invitations and announcements. Its non-paper based products include banners, bottle openers, calculators, car door magnets, decals, drink koozies, embroidered apparel, hats, iphone cases, key chains, lawn signs, letter openers and luggage tags. Its digital and marketing services include blogs, custom Facebook pages, design tools and content, e-mail marketing services and logos.
When a product type has been selected, the customer can initiate the design process by using the Company's predefined industry styles and theme categories, by entering one or more keywords in its image search tool, or by uploading the customer's own design. If the customer chooses to do a keyword search, the Company's automated design logic will, in real time, create and display to the customer a variety of product templates containing images related to the customer's keyword. When the customer chooses a particular template for personalization, the Company's user-friendly, browser-based application enables the customer to quickly and easily perform a wide range of design and editing functions on the selected design,! for example, cropping images or entirely replacing images with other images or uploading customer images or logos.
Once customers choose a pre-designed template or upload their own content for a product, they can instantly see what their design looks like on a range of other Vistaprint products and related services, including signage, Websites and e-mail marketing, business identity, direct mail services, apparel and promotional gifts. Customers who need help with their design or ordering process are able to reach the Company's customer service agents through phone, e-mail, and chat. The Company has six customer service facilities: Montego Bay, Jamaica; Berlin, Germany; the Hague, the Netherlands; Tunis, Tunisia; Sydney, Australia; and Mumbai, India. These centers provide phone, email and chat support for customers who speak English, Dutch, German, French, Italian, Spanish, Portuguese, Polish, Czech, Swedish, Norwegian, Finnish, Danish, Turkish, Japanese and Hindi. Using the Company's design software applications, combined with voice over Internet protocol telephone transmission technology and call center management tools, its agents and designers provide customer service. Customers purchasing products check out either through a standard e-commerce self-service shopping basket or by providing their order and payment information through telephone to one of the Company's service agents.
The Company's design creation technologies enable customers, by themselves or together with the assistance of the Company's design support staff, to design and create marketing materials from their homes or offices. The Company's document model architecture and technology employs Internet-compatible data structures to define, process and store product designs as a set of separately searchable, combinable and modifiable component elements. The Company's auto-matching design software generates customized product designs in real-time based on key-word searches. VistaStudio is the Company's product ! design an! d editing software suite, which is downloaded to its customer's computer from its server and runs in the customer's browser. This browser-based software provides real-time client-side editing capabilities. A range of layouts, color schemes and fonts are provided and a selection of photographs and illustrations are available for use by customers in product design. Customers can also upload their own images and logos for incorporation into their product designs. The Company's Internet-based, remote, real-time, co-creativity and project management application and database enables customers and the Company's design agents to design a product across the Internet in real-time, while engaging in voice communication.
Albumprinter Downloadable and Online Editors enable the creation of a range of photo products, such as calendars, canvas prints, and greeting cards through an intuitive user interface. These editors allow the Company's customers the choice of creating their personalized products on their own computer or utilizing their preferred browser and enable functionality, such as auto generated layouts, creation of content, and font selection. Features available to the Company's customers include adding personal images, maps, electronic payment processing, downloadable files and contact forms. Pagemodo offers small businesses to create a professional looking custom Facebook page. Pagemodo allows customers to select from a range of templates to create custom tabs for their Fanpage, including welcome tabs, lead capture tabs and video tabs. Pagemodo also offers a template driven cover image designer, which lets customers create cover images for their Facebook pages through a simple click and edit interface.
The Company's pre-production and production technologies process and aggregate customer orders, prepare orders for high-quality production and manage production, addressing and shipment of these orders. DrawDocs is the Company's automated pre-printing press technology that prepares ! customer ! documents received over the Internet for high-resolution printing. The Company's VistaBridge technology allows the Company to store and process. The Company's aggregation software scans these pending jobs and analyzes a range of production characteristics, including quantity, type and format of raw material, color versus black and white, single or double-sided print, delivery date, shipping location, type of production system being used and type of product. For printed products, the VistaBridge software then automatically aggregates orders with similar production characteristics from multiple customers into a single document image that is transferred to either a digital press or to an automated plating system that produces offset printing plates. Viper is the Company's workflow and production management software for tracking and managing its global production facilities on a networked basis. Viper monitors and manages bar-code driven production batch and order management, pick and pack operations, and addressing and shipping of orders.
The Company uses its marketing technologies to generate and display additional products incorporating the customer's initial designs, facilitating the cross-sale of related products and services. VistaMatch Software generates and displays one or more additional customized product designs based upon a customer's existing design. Design elements and customer information are automatically transferred to the additional design.
Automated Cross-Sell and Up-Sell technology permits the Company to show a customer, while the customer is in the process of purchasing a product, marketing offers for one or more additional or related products. Localization/Language Map is the Company's content management system that permits all of its localized Websites, and the changes to those Websites, to be managed by the same software engine. Text and image components of the Company's Web pages are separated, translated and stored in its managed content database.
Advisors' Opinion:
