List of Bankrupt Cities & Municipalities

List of Bankruptcy Filings Since January 2010

All Municipal Bankruptcy Filings: 37

General-Purpose Local Government Bankruptcy Filings (8):
-- City of Detroit
-- City of San Bernardino, Calif.
-- Town of Mammoth Lakes, Calf. (Dismissed)
-- City of Stockton, Calif.
-- Jefferson County, Ala.
-- City of Harrisburg, Pa. (Dismissed)
-- City of Central Falls, R.I.
-- Boise County, Idaho (Dismissed)

California Bankruptcy Filing Details:

Mendocino Coast Health Care District

• Fort Bragg, CA
• Status: Filed for bankruptcy
• Date: 10/17/2012
• The hospital district operates a small hospital and hospice program. In a resolution it filed, the district said it was significantly affected by its obligations to employees under the current collective bargaining agreement.

Stockton

• Status: Filed for bankruptcy
• Date: 6/28/2012
• Debt or Deficit Amount: $26 million
• Stockton, Calif., filed for bankruptcy after being unable to reach an agreement with its creditors. The city must pay steep pension and payroll costs while taking in less money from property taxes.

Mammoth Lakes

• Status: Filed for bankruptcy
• Date: 7/3/2012
• Debt or Deficit Amount: $43 million
• Mammoth Lakes, a small California resort town, voted to file for bankruptcy July 3. The city has been unable to pay a $43 million legal judgment resulting from a 1997 property development dispute.

San Bernardino

• Status: A federal judge granted the city eligibility for bankruptcy protection yesterday.
• Date: 8/28/2013
• Debt or Deficit Amount: $46 million
• San Bernardino City Council voted to file for bankruptcy protection in 2012 after learning the city had only $150,000 left in its bank accounts.

For a full map and more information, see Bankrupt Cities, Municipalities List and Map

NanoViricides Soaring on Recent News

One of my "Explore Portfolio" speculation stocks, NanoViricides (Ticker and my charts at NNVC), is soaring on a recent batch of great news.

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Below is a summary of the good news:

NanoViricides Signs a Non-Disclosure Agreement with the Lovelace Respiratory Research Institute for IND-enabling Efficacy Studies on FluCide® and for Testing its Novel Drug Candidates against the Highly Lethal MERS Human Coronavirus  - Excerpts:

Mon, Aug 5, 2013 7:00 AM EDT
WEST HAVEN, Conn.--(BUSINESS WIRE)--
NanoViricides, Inc. (OTC BB: NNVC) (the "Company") said it has signed a non-disclosure agreement (NDA) with the Lovelace Respiratory Research Institute (“LRRI”). The Company intends to enter into a Master Services Agreement with LRRI for the IND-enabling efficacy studies of both its broad-spectrum injectable and oral FluCide® drug candidates. These studies will employ multiple unrelated subtypes and strains of Influenza A, including the novel H7N9 strain, the subtype which is currently circulating in China. The Company has already shown that the injectable and oral FluCide drug candidates are substantially more effective than oseltamivir (Tamiflu®) in controlling influenza A virus infections in a highly lethal animal model using two unrelated subtypes of influenza A, namely H1N1 and H3N2. In addition to FluCide, LRRI will also be able to evaluate the Company’s anti-MERS drug candidates in cell culture and animal models when available. The NDA enables the scientists at the Company and LRRI to exchange confidential and proprietary information in preparation for the intended studies. 

The injectable FluCide drug is intended for severely ill hospitalized patients while the follow-on oral drug is intended for use in out-patients. Following advice from the Company’s pre-IND meeting with the FDA, the Company intends to evaluate both drugs against multiple unrelated subtypes of influenza A in animal models and in cell culture studies. 

H7N9 is a novel subtype currently circulating in China. Recent studies have indicated that it is a potential pandemic threat. H7N9 was found to be less sensitive to approved drugs than the H1N1/2009 pandemic strain. See New studies on H7N9 raise pandemic concerns | CIDRAP (http://www.cidrap.umn.edu/news-perspective/2013/07/new-studies-h7n9-raise-pandemic-concerns). 

The Company has recently developed drug candidates for evaluation against the novel MERS h-CoV (“Middle East Respiratory Syndrome human Coronavirus”). The Obama administration has designated MERS as a potential threat to public health and national security, on June 4, 2013. Administration declares Mideast flu a potential public health emergency - The Hill's Healthwatch (http://thehill.com/blogs/healthwatch/public-global-health/303441-administration-declares-mideast-flu-a-potential-public-health-emergency). No drugs or vaccines are available against MERS h-CoV. 

The Company has recently executed a NDA with the UK Public Health Agency that is intended to lead to a Master Service Agreement for the evaluation of FluCide against the novel A/H7N9 influenza strain as well as evaluation of the Company’s novel drug candidates against the newly emerging MERS human Coronavirus. The Company believes that independent testing of our drug candidates at these two sites should result in a dataset providing a high degree of confidence.

and

NanoViricides Receives Notification that Clinical Coordinators Have Been Appointed by The European Medicine Agency to Review the Company’s Upcoming DengueCide Orphan Drug Designation Application
Mon, Jul 22, 2013 7:00 AM EDT - Excerpts:

WEST HAVEN, Conn.--(BUSINESS WIRE)-- NanoViricides, Inc. (OTC BB: NNVC) (the "Company") announced today that it has been notified that the Committee on Orphan Medicinal Products (COMP) of the European Medicine Agency (EMA) has appointed a team of clinical coordinators for the purpose of reviewing the Company’s upcoming orphan drug designation application for DengueCide™, its drug candidate for the treatment of dengue and dengue hemorrhagic fever. 

COMP has appointed this team in response to the Company’s submission of a letter of intent to file an Orphan Drug Application with the European Medicines Agency (EMA) for DengueCide™. NanoViricides intends to file this application after the appropriate notice period (usually 60 days) has expired. The actual application will need to be translated into 27 different languages prior to submission.

The Company previously engaged the consulting firm Cote´ Orphan Consulting (COC), headed by Dr. Tim Cote´, to assist with the orphan drug application. The Company, in consultation with COC, has determined that its current lead DengueCide drug candidate is eligible for orphan drug status application in the European Union. The Company has recently filed an Orphan Drug Designation application for DengueCide to the US FDA.
DengueCide is a nanoviricide® that has shown very high effectiveness in an animal model of dengue virus infection. These animal studies were conducted in the laboratory of Dr. Eva Harris, Professor of Public Health and Infectious Diseases at the University of California, Berkeley. Professor Harris has developed a mouse model simulating antibody-dependent-enhancement (ADE) of dengue infection using a special laboratory mouse strain called AG129. ADE in humans is thought to lead to dengue hemorrhagic fever, and is associated with a high fatality rate. In this model, infection with a dengue virus, when the mice are left untreated, is 100% fatal. In contrast, in the same study, animals treated with NanoViricides' DengueCide achieved an unprecedented 50% survival rate. 

There is currently neither an effective drug treatment nor a vaccine for dengue virus infection. Tremendous efforts have been made for dengue vaccine development but, to date, no vaccine candidate has succeeded in clinical trials towards approval.
An orphan designation for our dengue drug candidate, if granted, is expected to help the Company assign a higher priority to its dengue drug program, and undertake rapid development following the influenza drug candidates. 

About Dengue and Dengue Hemorrhagic Fever 

Dengue fever, a very old disease, is caused by dengue viruses. Dengue viruses occur in four different subtypes and infect humans upon being bitten by a mosquito carrying the virus. The disease can result in severe pathology even with a primary infection. However, when a person gets a second infection, with a different subtype of the virus, the disease pathology can be very severe, and can lead to hemorrhagic fever (DHF), with a high case fatality rate. Hyper-endemicity, i.e. the co-circulation of multiple serotypes, has increased the potential for DHF. Increased global temperatures are expected to continue to spread the disease into subtropical areas. In 2013, this mosquito-borne disease is one of the most important tropical infectious diseases globally, with an estimated 400 million cases of dengue fever, over one million cases of dengue hemorrhagic fever, and 50,000-100,000 deaths annually. Although the disease is endemic in many tropical parts of the world, it is considered an orphan disease in the USA and Europe. (From Clinical Microbiology Reviews). 

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More NNVC Charts and Articles

Long Term Results that Speak for Themselves
Since 9/30/98 inception, "Kirk's Newsletter Explore Portfolio" is UP 450%
vs. the S&P500 UP only 106% vs. NASDAQUP only 101% (All through 6/30/13)Since 12/31/98: 9.0% Compound Annual Return vs. 3.7% for the S&P500
(More Info, Testimonials & Portfolio Returns)

Subscribe to my Newsletter NOW and get the  August 2013 Issue for FREE! !  Your 1 year, 12 issue subscription will start with next month's issue.

NNVC BUY ALERT!

FNSR Finisar Soars After Hours on Strong Guidance

Finisar (FNSR) Soared After Hours today on Strong Guidance for record revenues for the just completed quarter.

From Yahoo! Finance InPlay

5:07PM Finisar guides Q1 above prior guidance/consensus (FNSR) 19.13 -0.88 : Co issues upside guidance for Q1 (Jul), sees EPS of $0.30 to $0.31, excluding non-recurring items, vs. $0.24 Capital IQ Consensus Estimate, exceeding the previously estimated range of $0.22 to $0.26; sees Q1 (Jul) revs of $266 mln vs. $253.40 mln Capital IQ Consensus Estimate and compared to guidance of $245 to $260 million.

The revenue results are preliminary and subject to adjustment. However, in the absence of material adjustment, first quarter revenues will set a new record for the Company and will be the fourth consecutive quarter of sequential revenue growth. The growth in revenue came primarily from increased sales of 10G, 40G and 100G Ethernet transceivers for datacom applications. Approximately $2 million of the revenue growth over the prior quarter was from products for telecom applications. 

As a result of these higher than expected revenues, a favorable product mix and increased operating leverage, the Company expects non-GAAP gross margin to be 34.5% to 35%. 

stock is halted - Press Release Below

August 06 chart for Finisar

Live Intraday Chart for FNSR

More FNSR charts

SUNNYVALE, CA--(Marketwired - Aug 6, 2013) -  Finisar Corporation (NASDAQ: FNSR) today announced that, on the basis of preliminary financial results, the Company expects to report revenues of approximately $266 million for its first fiscal quarter, ended July 28, 2013, compared to guidance of $245 to $260 million that the Company provided early in the first quarter. The revenue results are preliminary and subject to adjustment. However, in the absence of material adjustment, first quarter revenues will set a new record for the Company and will be the fourth consecutive quarter of sequential revenue growth. The growth in revenue came primarily from increased sales of 10G, 40G and 100G Ethernet transceivers for datacom applications. Approximately $2 million of the revenue growth over the prior quarter was from products for telecom applications.

As a result of these higher than expected revenues, a favorable product mix and increased operating leverage, the Company expects non-GAAP gross margin to be 34.5% to 35%. This exceeds the previous guidance of approximately 33%. Non-GAAP earnings per share are expected to be $0.30 to $0.31 for the quarter, exceeding the previously estimated range of $0.22 to $0.26. A complete assessment of cost of revenues and operating expenses is not yet available but, results under GAAP are expected to include additional non-cash and infrequently occurring charges.

QUARTERLY CONFERENCE CALL

The Company expects to release its first quarter financial results after the market close on Thursday, September 5, 2013 and to discuss the first quarter results and its current business outlook during its regular quarterly conference call scheduled for Thursday, September 5, 2013, at 2:00 pm PDT (5:00 pm EDT). 

YADDA-YADDA STUFF HERE

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My Articles about FNSR on Seeking Alpha -

Long Term Results that Speak for ThemselvesSince 9/30/98 inception, "Kirk's Newsletter Explore Portfolio" is UP 450%vs. the S&P500 UP only 106% vs. NASDAQ UP only 101% (All through 6/30/13)Since 12/31/98: 9.0% Compound Annual Return vs. 3.7% for the S&P500
(More Info, Testimonials & Portfolio Returns)

Subscribe to my Newsletter NOW and get the  August 2013 Issue for FREE! !  
Your 1 year, 12 issue subscription will start with next month's issue.

Top 20 Semiconductor Sales Leaders Ranked by Growth & Sales - 1H 2013

These tables show the Top 20 Semiconductor Sales Leaders Ranked by Growth and Sales for the first half of 2013

Digitimes summarized the data:

"In total, the top 20 semiconductor companies' sales increased by 4% in the first half of 2013 as compared to first-half 2012, 1pp better than the worldwide semiconductor market increase of 3% during the period, according to IC Insights."

IC Insights: Top-20 Semiconductor Sales Leaders

Ranked by Growth, 1H13 (US$m)

IC Insights: Top-20 Semiconductor Sales Leaders 

Ranked by Sales, 1H13 (US$m)

Long Term Results that Speak for Themselves

Since 9/30/98 inception, "Kirk's Newsletter Explore Portfolio" is UP 450%

vs. the S&P500 UP only 106% vs. NASDAQ UP only 101% (All through 6/30/13)

Since 12/31/98: 9.0% Compound Annual Return vs. 3.7% for the S&P500

(More Info, Testimonials & Portfolio Returns)

Subscribe to my service NOW and get the  August 2013 Issue for FREE! !  
Your 1 year, 12 issue subscription will start with next month's issue.

SFM Sprouts Farmers Market IPO Pricing

Sprouts Farmers Market, Inc. Announces Pricing of Its Initial Public Offering

PHOENIX, July 31, 2013 -- Sprouts Farmers Market, Inc. (the "Company") today announced the pricing of its initial public offering of 18,500,000 shares of common stock at a public offering price of $18 per share. The shares will be listed on the Nasdaq Global Select Market and will trade under the ticker symbol "SFM" beginning on August 1, 2013. The Company is selling 17,702,215 shares of common stock and certain stockholders are selling 797,785 shares of common stock. The underwriters have an option, exercisable until August 30, 2013, to purchase up to an additional 2,775,000 shares from the Company. The offering is expected to close on August 6, 2013, subject to customary closing conditions.

The Company expects to receive net proceeds from the offering of approximately $297.5 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay approximately $297.5 million of outstanding indebtedness under its term loan facility and to use any remaining proceeds for general corporate purposes.

The offering is being made through an underwriting group led by Goldman, Sachs & Co., Credit Suisse, BofA Merrill Lynch, Apollo Global Securities, Barclays, Deutsche Bank Securities, UBS Investment Bank, Guggenheim Securities and Wolfe Research Securities. Goldman, Sachs & Co., Credit Suisse and BofA Merrill Lynch are acting as joint book-running managers of the offering, and Goldman, Sachs & Co. and Credit Suisse are the representatives of the underwriters.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. The final prospectus relating to the offering has been filed with the Securities and Exchange Commission and copies may be obtained by request from: Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: 866-471-2526, Facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, Telephone: 800-221-1037, or by emailing newyork.prospectus@credit-suisse.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Investor Contact:
Susannah Livingston
(602) 682-1584


Media Contact:
Kim Rockley
(602) 682-3173