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January, 2012

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Monday, January 30th, 2012

How Fastenal Is Vending a Success Story

Industrial and construction materials supplier Fastenal (Nasdaq: FAST - News) has significantly upped its market presence lately with the expansion of its industrial vending machines — dubbed a “one-stop shop” to replenish supplies.,wholesale Ralph Lauren Jackets

Although a two-year-old concept, the whole idea seems to have significantly picked up speed over the past ten months, as these machines doubled their contribution to Fastenal’s fiscal 2011 sales to 16% as compared to year before.

A really good idea
Why would you go to a store and stand in the queue just to buy nuts and bolts or cutting tools when you could have a mini-shop in your very own workplace? That’s exactly the question Fastenal’s been trying to raise through its vending machine concept.

These machines, which stock items ranging from metal cutters and grinding disks to first-aid kits and gloves, are becoming popular with diverse industrial customers including manufacturing plants, energy providers, and construction contractors.

Customers seem to have taken a liking to this idea as it saves time and money, making inventory replenishment much more convenient. Automatic billing saves administrative and processing time too, while inventory levels are monitored by Internet-based software, which alerts Fastenal when supplies reach a certain low level. The restocking is done through a local store.

By the end of 2011, a total of 7,500 machines had been installed at customer locations, up from 1,925 machines just a year earlier. In fact, Fastenal’s base of installed machines increased by an impressive 32% in the recent fourth quarter as compared to the third.

A smart way to save costs
The vending machines are fast reducing Fastenal’s need to open new stores to drive sales, thus saving on costs. In the recent past, the company has been increasing its store count by 14% each year. However, thanks to the vending machine expansions, the company need to add just 5% more, 122 new stores, in 2011. It is almost like Fastenal is opening small stores in client locations themselves.

As a matter of fact, analyst Ryan Merkel from William Blair & Co. believes the introduction of these vending machines could be the largest “land-grab opportunity” in distribution of industrial supplies in the past 20 years. The implementation of this strategy is certainly helping to keep Fastenal one step ahead of industry competitors such as W.W. Grainger (NYSE: GWW - News), which posted revenue growth of only 3.8% over the past three years.

Fastenal’s fast figures
The company plans to install 10,000 vending machines each year over the next few years, and it definitely seems capable of doing so. This debt-free company has an impressive unlevered free cash flow of $138 million in addition to their encouraging recent performance.

In every quarter of 2011, Fastenal saw over 20% revenue growth. The company’s earnings per share also met Street expectations all throughout the year. And in the latest quarter, Fastenal’s profits increased by 34%, to $87.5 million, compared to last year.

Future proof
Fastenal’s management plans to promote these machines aggressively in the future using selling incentives and new software, which could be more cost effective for end users. Overall, I’m feeling good about Fastenal’s future.

To keep an eye on this stock, click here to add it to your Watchlist. It’s free!

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Sunday, January 29th, 2012

War reduced to PG-13 after Fox trims sexual content

LOS ANGELES, Jan 27 (TheWrap.com) When “This Means War” hits theaters on Valentine’s Day, the Reese Witherspoon action comedy will arrive with a PG-13 rating, TheWrap has confirmed.

Fox, the studio behind the McG film, has trimmed sexual content in the film, and in return the Motion Picture Association of America has removed the R-rating, a spokeswoman for the ratings board said.

In addition to Witherspoon, “This Means War” stars Tom Hardy and Chris Pine. It centers on two CIA agents who compete for the same woman.

Fox lost its appeal on Thursday of the MPAA’s rating.

After hearing statements from Ted Gagliano, president of feature post production for Twentieth Century Fox and from Joan Graves,wholesale Ed hardy underwear, who chairs the Classification and Rating Administration, the board upheld the R rating due to sexual content.

“This Means War” will now apparently arrive in theaters with a little less steam heat — or at least with the sensuality and sex jokes dialed down a notch or two.

For an appeal to be successful, two-thirds of the board must vote that the rating is “clearly erroneous.”

The board reviews between 800 and 900 movies each year. Usually, fewer than 12 are appealed.

(Editing By Zorianna Kit)

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Sunday, January 29th, 2012

13 Chinese sailors killed near Golden Triangle

Associated Press writer Thanyarat Doksone in Bangkok contributed to this report.

The bodies of 12 crew members were found near Chiang Rai in northern Thailand on Friday and Saturday after the ships were hijacked Wednesday, the China Daily newspaper reported. Another body was found in the same area early Monday, China’s official Xinhua News Agency said.

“It doesn’t matter if it’s a passenger boat or a cargo ship. If you don’t pay them, you either get robbed or killed,” Phopkorn said.

Chinese Foreign Ministry spokesman Liu Weimin told a daily news conference Monday that China had suspended shipping from Yunnan down the Mekong and had sent a team to help investigate the killings. He also said China had appealed to Thailand to boost security on the river.

Surachart Chantawatcharakorn, the head of customs in the riverside Thai town of Chiang Saen, said a dozen Chinese boats had anchored along the Thai shore on Wednesday and were refusing to make the perilous trip back to China.

In April, three Chinese boats and 34 crew members were taken hostage by pirates along the Mekong in Myanmar but were safely rescued within days.

Most of the victims had been bound and blindfolded with adhesive tape and shot, the China Daily reported. The crew included two female cooks, it said.

The area is rife with international gangs that frequently target ships from China, Phopkorn told The Associated Press.

The Bangkok Post reported Monday that local authorities seized both boats after a gun battle with the hijackers and found cargo that included amphetamine pills worth 100 million baht ($3.22 million), garlic, apples and fuel.

BEIJING China suspended shipping through Southeast Asia’s Golden Triangle on Monday after attacks by suspected drug traffickers on two Chinese cargo ships left 13 people dead or missing on the Mekong River.

Thai police Col. Phopkorn Kooncharoensook said 11 bodies were recovered from the river and another was found on one of the boats.

The boats are used to smuggle drugs from Myanmar to Thailand, the Post said.

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He put the number of dead at 11 crew, with another two missing.

The Golden Triangle region, where the borders of Myanmar, Laos and Thailand meet, is notorious for the production and trafficking of heroin and other illicit drugs.

The Post cited Thai army officials as saying a gang run by suspected ethnic Shan drug trafficker Nor Kham was believed to be behind the attacks. It said the gang demands protection money from ships it hijacks on the Mekong and kills crew members who refuse to cooperate.

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Tuesday, January 24th, 2012

Giant painting of Indian mosque to be sold in NY

It’s being offered by the Museum of Fine Arts in Boston on Nov. 1 at a Sotheby’s auction of Russian art. It has a presale estimate of $3 million to $5 million.

The “Pearl Mosque at Delhi” painting is about 13 feet high and 16 feet wide. It was painted between 1876 and 1879. It shows men kneeling at a mosque.

The auction house says the proceeds will benefit the museum’s acquisition fund.

NEW YORK A giant painting by a Russian artist will be auctioned in New York City to benefit a Boston museum.

The artist was Vasili Vasilievich Vereshchagin (vah-SIHL’-ee vah-SIHL’-ih-vihch ver-uh-SHAH’-gihn). “Pearl Mosque at Delhi” is from his Indian series. It’s considered one of his most significant works to appear at auction in more than 100 years.

It went on view at Sotheby’s galleries on Wednesday.

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Thursday, January 19th, 2012

Teen in Texas school shooting says he was bullied

HOUSTON A Houston teenager accused of shooting a classmate in the leg at school says he was defending himself from a group of boys who have been bullying him.

Warren Lewis remained jailed Wednesday after he was arrested for the shooting a day earlier. The student who was shot is expected to recover.

The North Forest Independent School District says it’s still investigating how Lewis got the handgun into the campus and past metal detectors.

During a court appearance Wednesday, the 18-year-old Lewis told a judge that he had filed complaints with the school about the boys who had been threatening him.

The school district, however, says it hasn’t found any record of complaints by Lewis or his family.

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Tuesday, January 10th, 2012

Take a Walk With Warhol Celebrate the Pop Icon’s Birthday With a Tour of His Favorite New York City

NEW YORK Andy Warhol moved to New Yorkfrom his native Pittsburghin 1949 and before long became one of the Big Apple’s most iconic citizens,advertising the city’s grittily experimental sensibility to the world throughworks like “Empire” and “Chelsea Girls.” He was also head over heels in lovewith New York, and now it’s possible to view the city through his eyes — justin time for what would have been his 83rd birthday, on August 6 — with”Andy Warhol’s New York City: Four Walks Uptown to Downtown,” a newbook by Thomas Kiedrowski that traces the artist footsteps across 80 sites hedoted on. Some are no longer inexistence (others are never-realized), but most are still around —  meaning that you can pretend to be part ofthe Factory gang, meandering around Manhattan with Andy to lunch at the Odeonin Tribeca, shop at Bloomingdale’s, and attend openings at the Upper EastSide’s Leo Castelli gallery.
The beginnings of the book came about when friends askedKiedrowski what he wanted to do during his first visit to New York. Unlike most tourists, he didn’twant to check out Times Square or see theStatue of Liberty. Instead, he pulled out a piece of paper containing a list ofaddresses of buildings having to do with the Pop artist: the Silver Factory on East 47th Street,the White Factory at Union Square,and the townhouse on the Upper East Side whereWarhol lived with his mother. Kiedrowski eventually moved to NewYork, continuing to map out Andy’s New York, and making a career out of hisobsession by offering tours to Warhol sites in the city.

Warhol enthusiasts can choose from four walks: Upper EastSide Above East 70th Street, Upper East Side From East 57th Street to East 68th Street,Midtown, and Downtown. Full of photographs from Warhol’s life that map importantevents in the city, from the opening of Paraphernalia (a boutique where BetseyJohnson got her start) to a group shot of the crowd outside Max’s Kansas City,the book also includes helpful illustrations commissioned from Vito Giallo,Warhol’s former assistant.

So, this weekend, grab a copy of the pocket-sized guidebookand say a prayer at the Churchof St. Vincent Ferrer on East 66th Street,where Warhol worshiped during the last 13 years of his life,wholesale Ed hardy sunglasses, or stop by thesite of the Open Stage on St. MarksPlace, and imagine the first time Warholintroduced the Velvet Underground. (Since you’ll be in the neighborhood, you can also check out Rob Pruitt’s silvered Warhol sculpture in Union Square.) Finally, have a silent moment when visiting New York Hospitalon 68th Street,where the New Yorklegend was pronounced dead on February 22, 1987.

To see a slide show of significant Warhol sites around New York, click here.

 

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Sunday, January 8th, 2012

‘Devil Inside’ lifts Hollywood spirits with $34.5M

LOS ANGELES The fright flick “The Devil Inside” scared up a monstrous $34.5 million opening weekend to help Hollywood exorcise its recent box-office demons, according to studio estimates Sunday.

The surprise hit from Paramount Pictures debuted well above industry expectations as horror fans crowded theaters for the low-budget tale about exorcists trying to free a woman possessed by evil spirits.

Between “The Devil Inside” and solid results for holdover films, Hollywood’s business soared over the first full weekend of 2012 after a sluggish holiday season that ended a ho-hum year at the box office.

Overall domestic revenues totaled $144 million, up 29 percent from the same weekend last year, when “True Grit” led with $14.6 million, according to box-office tracker Hollywood.com.

Paramount already is well into profit with “The Devil Inside,” an independently produced movie that the studio bought for $1 million. It’s the latest such low-budgeted horror acquisition for the studio, which bought “Paranormal Activity” cheaply and turned it into a $100 million sensation that was followed by two hit sequels.

Like “Paranormal Activity” and another Paramount hit released in January, “Cloverfield,” “The Devil Inside” is a fictional tale shot in a mock documentary style.

According to Paramount, 59 percent of viewers for “The Devil Inside” were under 25 and 85 percent were under 35, prime viewers for Hollywood who had not turned up in their usual numbers for much of last year.

With a sales campaign that bypassed traditional newspaper and TV advertising in favor of online teasers and cryptic marketing, Paramount managed to intrigue young adults who have not been all that interested in the rush of family films and Academy Awards contenders that crowded into theaters over the holidays.

“The Devil Inside” was the only new wide release of the weekend after the holiday crush, historically a good time for something different to sneak in and become an unexpected hit, said Don Harris, head of distribution for Paramount.

“For that under-25, under-35 audience that’s looking for something else, that first weekend in January has always been a great weekend to release a movie,” Harris said. “When we saw that weekend open, we took it.”

“The Devil Inside” bumped another Paramount hit, Tom Cruise’s “Mission: Impossible Ghost Protocol,” out of the top spot after two weekends at No. 1. “Ghost Protocol” slipped to No. 2 with $20.5 million, raising its domestic total to $170.2 million.

Just a day before “The Devil Inside” opened Friday, industry analysts had expected “Ghost Protocol” would remain No. 1 this weekend. The most optimistic forecasters figured “The Devil Inside” might manage $15 million, less than half the business it actually did.

“This one caught everyone looking, but the devil got his due,” Hollywood.com analyst Paul Dergarabedian said. “It’s just very difficult to track the horror fan base, no question about it.”

“The Devil Inside” is following the pattern of many horror movies,Inflatable Jumpers, which pack in crowds on opening day then tumble quickly after that. With $16.85 million on Friday, “The Devil Inside” did nearly half of its business in the first day, with revenues falling to $11.75 million Saturday and an estimated $5.9 million Sunday.

Critics trashed “The Devil Inside,” and even the fans who came out to see it gave it mixed to bad reviews. Paramount reported that 16 percent of the audience gave it an A grade, while 19 percent gave it an F. Two-thirds of the audience gave the movie a grade of C or lower.

Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Hollywood.com. Where available, latest international numbers are also included. Final domestic figures will be released Monday.

1. “The Devil Inside,” $34.5 million.

2. “Mission: Impossible Ghost Protocol,” $20.5 million ($27.7 million international).

3. “Sherlock Holmes: A Game of Shadows,” $14.1 million ($43.4 million international).

4. “The Girl with the Dragon Tattoo,” $11.3 million ($12.6 million international).

5. “Alvin and the Chipmunks: Chipwrecked,” $9.5 million ($30.1 million international).

6. “War Horse,” $8.6 million.

7. “We Bought a Zoo,” $8.5 million.

8. “The Adventures of Tintin,” $6.6 million ($5.3 million international).

9. “Tinker Tailor Soldier Spy,” $5.8 million.

10. “New Year’s Eve,” $3.3 million ($5.3 million international).

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Estimated weekend ticket sales at international theaters (excluding the U.S. and Canada) for films distributed overseas by Hollywood studios, according to Rentrak:

1. “Sherlock Holmes: A Game of Shadows,” $43.4 million.

2. “Alvin and the Chipmunks: Chipwrecked,” $30.1 million.

3. “Mission: Impossible Ghost Protocol,” $27.7 million.

4. “Puss in Boots,” $18.2 million.

5. “The Girl with the Dragon Tattoo,” $12.6 million.

6. “The Iron Lady,” $6.2 million.

7. “J. Edgar,” $6.1 million.

8. “The Darkest Hour,” $5.6 million.

9 (tie). “The Adventures of Tintin,” $5.3 million.

9 (tie). “New Year’s Eve,” $5.3 million.

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Online:

http://www.hollywood.com

http://www.rentrak.com

___

Universal and Focus are owned by NBC Universal, a unit of Comcast Corp.; Sony, Columbia, Sony Screen Gems and Sony Pictures Classics are units of Sony Corp.; Paramount is owned by Viacom Inc.; Disney, Pixar and Marvel are owned by The Walt Disney Co.; Miramax is owned by Filmyard Holdings LLC; 20th Century Fox and Fox Searchlight are owned by News Corp.; Warner Bros. and New Line are units of Time Warner Inc.; MGM is owned by a group of former creditors including Highland Capital, Anchorage Advisors and Carl Icahn; Lionsgate is owned by Lions Gate Entertainment Corp.; IFC is owned by AMC Networks Inc.; Rogue is owned by Relativity Media LLC.

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Thursday, January 5th, 2012

Rape-allegation suit against Brown U. is dismissed

PROVIDENCE, R.I. A man who claimed Brown University kicked him out and failed to notify authorities when the daughter of a major donor falsely accused him of rape reached an agreement Wednesday with the woman’s family, resulting in the dismissal of his federal lawsuit against the Ivy League college.

The agreement was reached in U.S. District Court in Providence by William R. McCormick III, 24, and his parents; his accuser and her father; and Brown.

Attorneys for McCormick and his accuser released a statement saying they “have resolved all of the disputes between them … to their mutual satisfaction.” They declined to comment further.

The agreement says McCormick and his parents are barred from suing again.

Brown spokeswoman Marisa Quinn says the school is not a part of the settlement and did not participate in negotiations. She said that she did not know the details of the agreement but that Brown acted appropriately.

Michael Burch, a former assistant wrestling coach at Brown who was assigned to represent McCormick during the university disciplinary process when he was accused in 2006, said the outcome was a victory for McCormick.

“I’m proud and I’m happy for him that he fought so long against these influences and forces,” Burch said. He criticized Brown, which he said has not learned from this situation.

“Brown will always put its image and money first,” Burch said.

The McCormicks sued in 2009 after, they say, university administrators gave William McCormick III a one-way plane ticket home to Wisconsin when he was accused of rape in autumn 2006.

The student accused McCormick of stalking and harassing her when they were freshmen that September. He says he was abruptly removed from campus after the student later accused him of raping her in her dorm room while she was trying to study.

McCormick alleged the school accepted the rape allegations as true without doing an investigation. Brown didn’t refer the matter to police and instead handled it internally, the lawsuit says.

The lawsuit says the father of the accuser is a Brown alumnus who has “donated and raised very substantial sums of money.” It says he was in regular contact about the allegations with administrators and contacted university President Ruth Simmons directly.

McCormick has maintained he did nothing wrong but agreed to withdraw from the school after a confidential agreement with the accuser’s family. The lawsuit says he signed the contract under duress.

Under that agreement, the accuser agreed not to press charges or take other legal action against McCormick. The woman graduated from Brown in 2010.

McCormick,Wholesale Juicy Couture jackets, a champion high school wrestler from Waukesha, Wis., was at Brown on a full scholarship. After leaving the school, he enrolled at Bucknell University in Lewisburg, Pa., where he graduated in the spring.

The Associated Press generally does not identify people who say they were sexually assaulted, and is not naming the father to avoid identifying the woman.

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Thursday, January 5th, 2012

Kardashian can pay more, Calif. tax proponents say

SACRAMENTO, Calif. Kim Kardashian, can’t you pay more? Proponents of a proposed tax increase on millionaires in California are asking that question of the outsize personality, who has parlayed her reality TV celebrity status into fame and personal fortune.

An online video from the Courage Campaign targets the star of “Keeping Up with the Kardashians” and “Kourtney and Kim Take New York” as part of its campaign for a proposed November ballot initiative to raise taxes on the wealthiest Californians.

The video ad flashes images of Kardashian enjoying the good life, proclaiming that “being on TV has changed my life, because you get lots of free stuff.”

It says Kardashian made $12 million in 2010 but paid just 1 percentage point more in California income taxes than someone making $47,000 10.3 percent vs. 9.3 percent. The video ad, which is posted at www.Taxkimk.com, urges Kardashian to support the proposal for a tax increase.

“Not everyone was born a Kardashian, but we all need to pay our fair share,” it says.

A spokeswoman for Kardashian, Pearl Servat, did not respond to a request for comment Tuesday from The Associated Press.

The Courage Campaign and the California Federation of Teachers are among the groups backing a so-called millionaire’s tax that would raise income tax rates by 3 percent to 5 percent for individuals who make more than $1 million a year.

Proponents say the tax would raise about $6 billion to help fund public schools and local services that have been hit hard during the recession, such as social services, programs for the elderly and public safety.

If the groups are successful in getting their tax initiative on the November ballot, they would likely pursue a television ad on the same theme, Courage Campaign spokeswoman Ana Beatriz Cholo said.

Tax revenue to the state has dropped $17 billion since the recession began during the 2007-08 fiscal year, requiring billions of dollars a year in budget cuts.

The millionaires tax is one of several ballot proposals circulating in California seeking to increase income taxes on the wealthy as a way to help close the state’s annual budget deficit. In 2010, about 41,000 Californians reported adjusted gross income above $1 million, paying about $13.1 billion in taxes to the state, according to the Franchise Tax Board.

A proposal by Gov. Jerry Brown also seeks to raise taxes temporarily, and he has been reaching out to wealthy donors who could help finance his initiative campaign. The Democratic governor said he has found that most wealthy people are not too excited about increasing their own taxes, with some exceptions.

“I talked to Rob Reiner; he was very excited about paying more taxes,” the governor quipped last week. A spokesman for Reiner was not immediately available for comment Tuesday.

Through their reality TV shows and other promotions, Kim Kardashian, two of her sisters and their mother have created a celebrity brand name for themselves, appearing in endorsements for everything from weight-loss products to fast food. Forbes magazine estimated Kardashian made $12 million in 2010.

Kim Kardashian’s father, Robert Kardashian, was an attorney and close friend of O.J. Simpson who played a prominent role in his murder trial.

After a lavish, made-for-TV wedding event last summer that reportedly netted the couple millions of dollars in royalties,wholesale Ed hardy jeans, Kim Kardashian filed for divorce in October, citing irreconcilable differences just 10 weeks after she wed NBA player Kris Humphries.

The couple’s star-studded, black-tie ceremony was held at an exclusive canyon estate near Santa Barbara in the seaside enclave of Montecito. Kardashian wore three different designer wedding gowns, complemented by her 20.5 carat engagement ring. The couple’s wedding registry at a Beverly Hills jeweler totaled $172,000 and included such items as a $1,650 coffee pot and two $1,250 sterling silver vegetable spoons.

The one-minute Courage Campaign ad flashes pictures of Kim Kardashian in fur and jewels, then compares her 10.3 percent income tax rate with that of a “middle-class Californian” who makes $47,000 a year and pays 9.3 percent.

“Don’t you think she could pay a little more?” the ad asks as pictures of schoolchildren, firefighters and an elderly woman appear. “Especially to fund education and critical services?”

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Thursday, January 5th, 2012

Dimension acquires heist comedy The Black Marks

LOS ANGELES (TheWrap.com) Dimension Films will distribute “The Black Marks,” a heist comedy starring Matt Dillon, Kurt Russell and Jay Baruchel, the company said Wednesday.

Jonathan Sobol (”A Beginner’s Guide to Endings”) wrote and is directing the movie.

“The Black Marks” stars Russell as Crunch Calhoun, a third-rate daredevil and occasional art thief who goes into business with his brother,Replica Bape jeans, Nicky, played by Dillon, for an art theft. As these things tend to go, the successful theft brings the old gang to another, riskier heist.

Nicholas Tabarrok, a principal with Darius Films, is producing the movie, which begins production this month.

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