Exclusive: LA billionaire Soon-Shiong, Guggenheim plot AEG bid

Los Angeles/New York (Reuters) - Los Angeles billionaire Patrick Soon-Shiong is putting together an investor group to make a bid for Anschutz Entertainment Group, the LA-based sports and real estate company, according to three sources with knowledge of the deal.

Soon-Shiong, whose fortune is estimated at more than $7.2 billion, has joined forces for the AEG bid with private equity firm Guggenheim Partners, which recently led a local group in the purchase of the Los Angeles Dodgers baseball club. Soon-Shiong and Guggenheim are expected to bring in additional partners, two of the sources said.

AEG's assets include the Los Angeles Kings pro hockey team, the Staples Center in Los Angeles and more than 120 sports or entertainment venues around the world.

Founded by Denver billionaire Phil Anschutz, AEG is close to breaking ground on a new $1.2 billion football stadium in downtown Los Angeles. The project is awaiting a commitment from a National Football League team to relocate to the facility.

Soon-Shiong, an avid sports fan who owns a small piece of the Los Angeles Lakers basketball team, is particularly interested in bringing a professional football team to Los Angeles, and aims to buy a team or encourage one to move so it can play in the new stadium, said one source.

AEG, which is operated by its president, Tim Leiweke, said on September 18 that it was exploring a sale of the company and had retained Blackstone Advisory Partners. Blackstone is assembling a list of potential buyers and is expected to provide interested ones with financial information in the next few weeks, a person close to the bidding told Reuters last week.

A spokesmen for Soon-Shiong and a spokeswoman for Guggenheim had no comment. AEG's spokesman said it does not comment on what he called "rumor and speculation".

Soon-Shiong, a surgeon and one-time professor at UCLA's Medical School, created and sold two pharmaceutical companies for a combined $8.6 billion. He is believed to be the wealthiest person in Los Angeles, according to Forbes Magazine.

This spring, Soon-Shiong and hedge fund billionaire Steven Cohen were among the unsuccessful bidders for the Dodgers.

Soon-Shiong is also a 5 percent owner of the Los Angeles Lakers basketball team, which required him to be approved by the National Basketball Association. The AEG buyer will need NBA approval as well because AEG also owns a small stake in the Lakers.

Soon-Shiong intends to put together a broad group of local investors in a similar fashion to the one Guggenheim assembled for the $2 billion purchase of the Dodgers in May, said one of the people familiar with his plans. That investor group included basketball great Earvin "Magic" Johnson.

The Los Angeles Times reported on September 21 that Soon-Shiong attended the New York Giants-Carolina Panthers last week as a guest of Panthers owner Jerry Richardson. The Panthers owner is the former chairman of the NFL's stadium committee.

In a statement to the Times earlier in the week, a representative of Soon-Shiong wrote: "Dr. Patrick Soon-Shiong is keenly aware that AEG is in play. We have the utmost respect for Phil and Tim and what they have accomplished in entertainment and sports and in revitalizing the downtown community."

"We clearly are interested in furthering this legacy for Los Angeles," the statement added.

AEG owns entertainment venues in 17 of the top 50 U.S. markets, according to its web site. It owns the Los Angeles Galaxy Major League Soccer team, possibly best-known for star David Beckham, and AEG Live, which promotes concerts and other live events.

Guggenheim has more than $160 billion in global assets under management, according to its web site.

Soon-Shiong, 60, has been increasingly active in civic causes. Born in South Africa to Chinese immigrant parents, he has made large donations to two Los Angeles-area hospitals, including one to reopen the problem-plagued Martin Luther King hospital in one of the city's poorest neighborhoods. His family foundation has pledged $1 billion to create a national health care information highway.

Last year, he founded NantWorks, a venture that aims to use ultra-low power semiconductor technology and super-computing to improve education, health care and other social services.

(Reporting By Ronald Grover in Los Angeles and Nadia Damouni in New York. Editing by Jonathan Weber and Andrew Hay)

Source: http://news.yahoo.com/exclusive-la-billionaire-soon-shiong-guggenheim-plot-aeg-153943699--sector.html

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3 different styles of villa elevation for a single plan | Home Design ...

The requirement was to create three different styles of elevation for a single plan and here is how www.3dbricks.com created the elevations styles.

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Source: http://www.indianhomedesign.com/2012/09/3-different-styles-of-villa-elevation-single-plan.html

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In National Review, Mark Steyn Pushes Stupid 'Obama Flag' Fake Outrage (Little green footballs)

Share With Friends: | | Politics - Top Stories Stories, RSS Feeds and Widgets via Feedzilla.

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Alibaba spins out Aliyun team with $200 million investment, pep talk

You can imagine that the team building Alibaba's Aliyun mobile OS must have hurt feelings following Google's accusations that Aliyun is just a corruption of Android. Alibaba chief Jack Ma is keen to restore some of that wounded pride, at least on the surface. The CEO has used a since-confirmed staff memo to spin out Aliyun as a separate entity that will "safeguard the healthy growth" of the platform and Alibaba's mobile strategy. It's not solely an instance of tough love, either: Alibaba is putting $200 million into the new firm and will use executive Wang Jian as a link between the two sides, having him serve as the CTO for both companies. With that in mind, Ma's ultimate intentions aren't clear. While the separation may be a sign of a tighter focus on software, it also reduces the impact for Alibaba if anything drags Aliyun down -- and either motivation would be helpful for a company devoted to the web before anything else.

Filed under: Cellphones, Mobile

Alibaba spins out Aliyun team with $200 million investment, pep talk originally appeared on Engadget on Sat, 22 Sep 2012 12:41:00 EDT. Please see our terms for use of feeds.

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Basic Approaches to Market Auto in Melbourne | Tourism Articles

Selling your vehicle can cause you some stress. It requires lots of planning both for you and for the automobile you are going to sell. Making necessary inquiries and automobile maintenance could help you sell your car quicker. There are various things to consider before selling your auto. This information will help prepare you for the selling method by giving several helpful suggestions.

When Should You Consider Selling Your Vehicle?

Every vehicle reaches a point where they look worn-out and require regular fixes. It is preferable to sell your automobile before it completely falls apart, at least to keep some significance. Speak with an auto mechanic about your car?s future in the trade business. Mechanics may give you sincere assessments of your vehicle?s mechanical form. Difficulties such as signs of corrosion, tough starting, and blue smoke during start-up indicate that your car is getting older. Your mechanic?s evaluation will help you come to a decision whether you ought to sell your auto or not. The rule of the thumb is to sell your automobile when it?s in excellent condition, not too outdated, and doesn?t need repairs.

Determining Your Car?s Value

?How much will my car cost?? is a concern every seller asks before estimating a value. The true value of your car depends on different facets. These include its mechanical condition, current market conditions, the gas value, and the features or accessories your vehicle has. A well-maintained vehicle with a clean file and background will attract several buyers? attention and be worth a greater quotation. Several sales people offer discussion and automobile assessment in Melbourne. Their services include inspections, handling calls, and making testimonials for car sellers. They could offer beneficial details on how to sell your auto quicker and easier.

How Could You Sell Your Auto?

You can use different strategies to sell a car. Once you?ve prepared your automobile by doing essential repairs, think about your options to figure out the right selling strategy for you. Selling privately is usually the most rewarding option, yet also the most time consuming. It needs you to organise marketing, answer phone calls from interested parties, and organize viewing schedules for potential buyers. Fortunately, the web has made selling used automobiles easier than before.

Several websites now offer vehicle advertisements that enable you to present your auto to a larger market. A number of them even buy cars after just one phone call. These web sites have a search function that permits the purchasers to identify the area where they want to buy an used car. Car buyers from Melbourne could search the whole town, or narrow it down to their unique suburbs or certain locations.

Think about trading in your vehicle if you want more ease and are not too frustrated about obtaining the best cost. In this option, the dealer takes your car as part of your settlement for a brand new one. All you have to do is pay the major difference. Another option is selling your car in an auction sale. You don?t have to promote or worry about the paperwork, and you might be fortuitous enough to get an excellent cost. There are numerous auto auction houses to select from in Melbourne.

Selling your automobile can be a hard decision, however with sufficient knowledge about your auto and the market, you can make the most out of your used vehicle. Turn your auto into cash today. Go to internet sites just like cashforwheels.com.au for more information about car selling in Melbourne.

Source: http://www.tourismarticles.org/travel-information/tourism-business/basic-approaches-to-market-auto-in-melbourne.html

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Iranian Military Commander: ?Israel Seeks War With Us?

AP

A top Iranian commander predicted Saturday that Israel will strike Iran and called war between the two countries inevitable.

?A war will occur, but it?s not clear where or when it will be,? Revolutionary Guard Gen. Mohammad Ali Jafari said at a news conference, according to Reuters. ?Israel seeks war with us, but it?s not clear when the war will occur.?

Jafari said the Jewish state?s ever-increasing talk of striking Iran?s nuclear facilities will eventually lead to action on Israel?s part. Israeli Prime Minister Benjamin Netanyahu said earlier this week Iran is ?20 yards? from attaining a nuclear weapon and must not be allowed to ?cross that goal line.?

?Their threats only prove that their enmity with Islam and the revolution is serious, and eventually this enmity will lead to physical conflict,? Jafari said. ?Right now they see war as the only method of confrontation.?

Echoing similar comments he made last week, Jafari said Iran is ramping up its defensive capabilities so that if there is a strike, Iran will be able to defend itself ?and other countries that need our help.?

?If they [Israel] start something, they will be destroyed and it will be the end of the story for them,? Jafari said.

Jafari last week threatened to strike U.S. military bases in the Middle East in retaliation for any American attack.

Source: http://www.theblaze.com/stories/iranian-military-commander-israel-seeks-war-with-us/

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Melky Cabrera disqualified from NL batting title

FILE - This July 14, 2012 file photo shows San Francisco Giants' Melky Cabrera swinging for an RBI single off Houston Astros' Lucas Harrell in the fifth inning of a baseball game in San Francisco. Major League Baseball appears unlikely to interfere if Melky Cabrera wins the NL batting title while serving his 50-game suspension for a positive drug test. (AP Photo/Ben Margot, File)

FILE - This July 14, 2012 file photo shows San Francisco Giants' Melky Cabrera swinging for an RBI single off Houston Astros' Lucas Harrell in the fifth inning of a baseball game in San Francisco. Major League Baseball appears unlikely to interfere if Melky Cabrera wins the NL batting title while serving his 50-game suspension for a positive drug test. (AP Photo/Ben Margot, File)

FILE - This March 1, 2012 file photo shows San Francisco Giants baseball player Melky Cabrera. A person familiar with the discussions tells The Associated Press that Cabrera has been disqualified from the National League batting title at his own request. The person says Cabrera asked the players' association to convey his desire to the commissioner's office and that an agreement to make him ineligible was reached Friday, Sept. 21, 2012. The person spoke on condition of anonymity because no announcement had been made. (AP Photo/Morry Gash, File)

NEW YORK (AP) ? Melky Cabrera lost the right to play baseball by failing a drug test and now he has given up his chance to win the National League batting title.

Cabrera was disqualified from the NL batting honor at his own request when Major League Baseball and the players' association agreed Friday to a one-season-only change in the rule governing the individual batting, slugging and on-base percentage champions.

Serving a 50-game suspension, the San Francisco Giants slugger entered Friday with a league-leading .346 average, seven points ahead of Pittsburgh's Andrew McCutchen. Cabrera, the All-Star game MVP, was suspended Aug. 15 for a positive test for testosterone and is missing the final 45 games of the regular season.

Cabrera had 501 plate appearances, one short of the required minimum, but would have won the title under section 10.22(a) of the Official Baseball Rules if an extra hitless at-bat were added to his average and he still finished ahead. With Friday's agreement, that provision won't apply this year to a player who "served a drug suspension for violating the Joint Drug Program."

The process for the change was set in motion Wednesday evening when Cabrera's agent, Seth Levinson, sent an email to union head Michael Weiner with an attached letter from Cabrera in English and Spanish.

"I ask the Players Association to take the necessary steps, in conjunction with the Office of the Commissioner, to remove my name from for the National League batting title," Cabrera wrote in the letter, a copy of which was obtained by The Associated Press.

"To be plain, I personally have no wish to win an award that would widely be seen as tainted, and I believe that it would be far better for the remaining contenders to compete for that distinction," Cabrera wrote. "So too, the removal of my name from consideration will permit me to focus on my goal of working hard upon my return to baseball so that I may be able to win that distinction in a season played in full compliance with league rules. To be plain, I plan to work hard to vindicate myself in that very manner."

Lawyers from Major League Baseball and the union finished drafting the change on Friday.

"Major League Baseball will comply with Mr. Cabrera's request," MLB Commissioner Bud Selig said. "I respect his gesture as a sign of his regret and his desire to move forward, and I believe that, under these circumstances, the outcome is appropriate, particularly for Mr. Cabrera's peers who are contending for the batting crown."

On Wednesday morning, Selig had said "we generally don't interfere" in the batting title issue.

Cabrera then took the initiative.

"It goes without saying that the last couple of months have been painful for Melky and he has certainly paid a significant price for the mistake that he made," Levinson wrote in the email, also obtained by the AP. "He wants to show the baseball world that he is remorseful and worthy of a 2nd chance. He understands that it will take both time and action to restore his good name and to prove that his love and respect for the game is unequivocal."

Qualifications for the batting championship are contained in the scoring section of the Official Baseball Rules, and Article 18 of baseball's labor contract says that if management and the union don't reach an agreement on proposed scoring rule changes that "significantly affect terms and conditions of employment" then the changes can't be put into effect until after the next complete season ? which in this case would delay a modification until 2014.

But MLB and the union can change the rule at any time if they agree.

"I am grateful that the Players Association and MLB were able to honor my request by suspending the rule for this season," Cabrera said in a statement. "I know that changing the rules midseason can present problems, and I thank the Players Association and MLB for finding a way to get this done."

Baseball rules state a player needs to average a minimum 3.1 plate appearances for each of his team's games to become a batting, slugging or on-base percentage champion. But the last sentence of 10.22(a) says: "Notwithstanding the foregoing requirement of minimum appearances at the plate, any player with fewer than the required number of plate appearances whose average would be the highest, if he were charged with the required number of plate appearances shall be awarded the batting, slugging or on-base percentage championship, as the case may be."

The provision came into play for the first time in 1996, when San Diego's Tony Gwynn won his third straight NL batting title, and his seventh overall. Gwynn hit .353 in 498 plate appearances and won when four hitless at-bats were added and his average still topped that of Colorado's Ellis Burks, Gwynn's closest pursuer at .344.

As the agreement is worded, the only way Cabrera would qualify for the batting title is if the Giants had a rainout and played only 161 games, in which case 499 plate appearances would be sufficient. Such a situation is unlikely this late in the season.

Weiner praised Cabrera, saying "we commend Melky's decision under these circumstances."

So did McCutchen, who played down the chance to take the batting crown himself.

"It was him saying ? he was just manning up and saying he was wrong and he took himself out of the race," McCutchen said. "It was man of him to do that. I guess he thought that was the right thing to do and I commend him for doing that."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-09-21-Cabrera-No%20Batting%20Title/id-e19eb180967f4910b9043f02100d42f8

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