Page 7,381«..1020..7,3807,3817,3827,383..7,3907,400..»

RLPC-Fitness First attracts distressed fund Oaktree

Posted: February 18, 2012 at 9:31 am


LONDON, Feb 17 (Reuters) - Distressed investment funds including Oaktree Capital are buying up debt and building a position in health club operator Fitness First, adding pressure on owner BC Partners' ability to restructure the company's debt, bankers said on Friday.

A number of lenders are selling out of the company, which has started talks to restructure its approximate 600 million pounds ($948 million) of loans, bankers said.

Distressed investors specialise in buying ailing companies' debt, often pursuing a 'loan to own' strategy with the intention of gaining control of a company in a restructuring

Oaktree acquired 45 million euros ($58.69 million) of Fitness First loans this week, at a discount of around 65 percent of face value, the bankers said. Oaktree is approaching other lenders willing to sell, the bankers added.

BC Partners declined to comment. No one at Oaktree Capital was immediately available to comment.

Last week about 39 million Australian dollars ($41.79 million) of Fitness First's loans traded at around the same discount. [ID: nL5E8DABAG]

RESTRUCTURING UNDERWAY

Distressed debt specialists and secondary loan traders attended a bank meeting last Thursday where the company discussed its first-quarter breach of covenants and its debt maturities after BC Partners failed to sell parts of the business last year to repay its debt.

The company needs to refinance or extend maturities on its loans, which fall due this and next year, according to Thomson Reuters LPC data. BC Partners hired advisors from Rothschild to restructure its debt, bankers said.

BC Partners bought Fitness First in 2005 for 1.2 billion euros ($950 million). It tried to float the Australian and Asian operations in Singapore last year but the IPO - also run by Rothschild - was pulled in September due to market volatility. ($1 = 0.7668 euros) ($1 = 0.9331 Australian dollars) ($1 = 0.6323 British pounds) (Editing by Greg Mahlich)

Read more:
RLPC-Fitness First attracts distressed fund Oaktree

Written by admin |

February 18th, 2012 at 9:31 am

Posted in Health and Fitness

In Motion O.C. is Hosting a Special Health and Hydration Seminar with Shan Stratton in Irvine, California on March 1 …

Posted: at 9:31 am


On March 1, 2012, In Motion O.C. will be hosting a special seminar on health & hydration, which will be conducted by nutritional consultant, sports supplementation specialist and internationally renowned motivational speaker, Shan Stratton.

Irvine, CA (PRWEB) February 18, 2012

In Motion O.C. is a state of the art physical therapy, fitness and wellness center in Irvine, California. On March 1, 2012, In Motion O.C. will be hosting a seminar on health and hydration with special guest, Shan Stratton.

Shan Stratton is known internationally as the nutritionist to the pros. Shan is a nutritional consultant, a sports supplementation specialist and a renowned motivational speaker.

He’s consulted with teams such as the New York Yankees, Boston Red Sox and Miami Heat regarding sports supplementation. Shan has also performed one-on-one nutritional training with hundreds of athletes such as legendary Hall of Famer, Reggie Jackson and 5-time Cy Young winner, Randy Johnson.

Those attending this unique seminar will learn about why nutrition and hydration go hand in hand. Shan will also cover the difference between nutrient utilization and nutrient consumption, probiotics and prebiotics, and how Kangen water plus proper supplementation can help reduce body fat.

The seminar will be hosted at In Motion O.C., a 6,000 square foot facility in Irvine, CA. In Motion O.C. is a health facility with an emphasis on Physical Therapy, Aquatic Therapy, and Fitness.

For more information regarding this special presentation, visit http://www.InMotionOC.com/about-us/news/ or call In Motion O.C. at 949-861-8600.

###

Jeff Thomas
In Motion OC
949-861-8600
Email Information

Visit link:
In Motion O.C. is Hosting a Special Health and Hydration Seminar with Shan Stratton in Irvine, California on March 1 ...

Written by admin |

February 18th, 2012 at 9:31 am

Posted in Health and Fitness

Life Time Fitness 4th-qtr profit on member growth

Posted: at 9:31 am


CHANHASSEN, Minn. (AP) — Health club operator Life Time Fitness Inc. reported Thursday that its fourth-quarter net income increased nearly 13 percent on improved revenue from membership fees and sales within its clubs.

Life Time earned $19.8 million, or 48 cents per share, for the period ended Dec. 31, compared with $17.6 million, or 43 cents per share, in the 2010 fourth quarter. Excluding the impact of performance compensation expenses for its leaders, the company earned 59 cents per share.

Revenue increased more than 12 percent to $250.9 million from $223.7 million.

Analysts, on average, expected adjusted earnings of 56 cents per share, on revenue of $246.3 million for the period.

Life Time said that it expects its membership and other revenue to continue to improve in the coming year. It forecast profit of $2.60 to $2.72 per share for 2012 on revenue of $1.11 to $1.14 billion. Analysts expect earnings of $2.76 per share on revenue of $1.12 billion.

The company posted full year earnings of $92.6 million, or $2.26 per share. That's up from $80.7 million, or $2 per share, for 2010. It earned $2.42 per share on an adjusted basis.

Annual revenue rose 11 percent to $1.01 billion from $912.8 million.

Life Time, based in Chanhassen, Minn., operates 93 fitness centers under the Life Time Fitness and Life Time Athletics brands in 21 states. The company also operated nine additional acquired facilities, which it is transitioning to become Life Time centers.

Shares of the company were up 29 cents to $50.58 in midday trading

Read more:
Life Time Fitness 4th-qtr profit on member growth

Written by admin |

February 18th, 2012 at 9:31 am

Posted in Health and Fitness

Deadline is Monday to register for RB health, fitness fair

Posted: at 9:31 am


By Elizabeth Marie Himchak

A free health and fitness fair in Rancho Bernardo next weekend will focus on seniors’ needs and activities.

The event will be 12:30-3 p.m. Saturday, Feb. 25 at the Ed Brown Senior Center, 18402 W. Bernardo Drive in Rancho Bernardo Community Park. RSVPs are requested by Monday, Feb. 20. Call 858-487-9324.

It will begin with a free lunch from 12:30-1:15 p.m., followed by a presentation from 1:30-2:30 p.m. by Alex Signorello, a certified personal trainer who specializes in exercises for seniors. His talk will be followed by opportunities to learn more about the center’s classes and activities, said Pastor Jeff Keck from Petra Pentacostal Church.

The church, which for the past year has been holding services at the Brown center, is organizing the event as part of its community outreach, Keck said.

Among center classes and activities attendees can learn about are gentle yoga, ways to improve balance, arthritis help, ballroom dancing, Zumba, lawn bowling and croquet.

“We’re trying to let the senior community know about all that is available at the center,” Keck said.

As for Signorello’s talk, Keck said it will likely include health, fitness training, nutrition and a demonstration of low-impact exercises seniors can perform.

“He’s a great instructor,” Keck added.

Free information on health and fitness products, services and places like retirement facilities can be obtained from vendor booths throughout the fair. Each attendee will also receive a goodie bag and have an opportunity to win door prizes. Fun activities will include putting contests and people can receive a tour of the center.

Keck said the free lunch is due to contributions by four Rancho Bernardo businesses — Souplantation, Albertsons, and Starbucks in Westwood and RB Town Center.

As of press time, there were some vendor booth spaces still available. Businesses can rent a 4-foot space for $95 or an 8-foot space for $150. If they would like to have their company logo featured on the event’s banner, they can do so for $75. Camera-ready art must be provided. The deadline is Monday, Feb. 20. For details and availability, call Keck at 858-722-1123.

Related posts:

Annual Rancho Bernardo holiday party is Saturday RB senior center waiting for word on its future Editorial: Restore funding for seniors Deadline nears for new Pathway of Pride plaques Curves in Poway is much more than a gym

Short URL: http://www.pomeradonews.com/?p=21618

Link:
Deadline is Monday to register for RB health, fitness fair

Written by admin |

February 18th, 2012 at 9:31 am

Posted in Health and Fitness

Health & Fitness-Exercise Facility-Peak Health & Wellness

Posted: at 9:31 am


Posted: Friday, February 17, 2012 2:59 pm | Updated: 3:10 pm, Fri Feb 17, 2012.

Locations: Coeur d'Alene-Hayden-Post Falls

What started as a dream nearly 30 years ago, PEAK Health and Wellness Centers are still of serving our community keeping people active, healthy and energized! With their challenging and exciting programs in full swing, they strive every day to guide and motivate their members to fulfill their dream.

When you arrive at the PEAK you will be greeted by their friendly, welcoming and knowledgeable staff that is always available to accommodate your individual needs. Joining their community whether you are a swimmer, tennis or racquetball player or enjoy weight lifting and group fitness classes, they have what you need. Their facilities are always updated with the latest equipment and programs/classes such as TRX, Reformer, Gravity/Kinesis, Biggest Loser, Insanity, X-Fit, Zumba and top-notch nutritional training.

PEAK'S new lower dues and affordable childcare make this the perfect time to join. Being a member of PEAK also affords you the luxury of attending your choice of 8 different reciprocal health clubs in the northwest with no additional fees.

Since PEAK values community involvement, they are active supporters of Toys for Tots, St. Vincent de Paul, School District #271 and #272, Special Olympics swim, basketball and hockey programs just to name a few.

Let the dream that started 30 years ago be your dream today.

 

 

 

Posted in Best of north idaho on Friday, February 17, 2012 2:59 pm. Updated: 3:10 pm.

Read more from the original source:
Health & Fitness-Exercise Facility-Peak Health & Wellness

Written by admin |

February 18th, 2012 at 9:31 am

Posted in Health and Fitness

The play’s the thing to help kids work through tough situations

Posted: at 9:30 am


Today's middle school kids face perils unheard of a generation ago. Sexting and online bullying compound the dangers during an already risky age -- early adolescence.

"It's scary," said David Kline, a high school teacher.

Kline wears two hats. A drama teacher at Bellevue High School, he is also artistic director of Open Door Theatre. His new play, "Making Choices," is aimed at helping middle school students be clear about boundaries, navigate dating relationships and make wise decisions about online activities.

"Making Choices" is among three productions offered to school audiences by Open Door Theatre. Now based in Arlington, the nonprofit organization has been using drama to teach personal safety to school-age children since 1983.

Next Thursday, school counselors, principals, PTA members and parents are invited to see "Making Choices" and two plays intended for elementary students at a free Open Door Theatre event at the Everett Mall's Everett Music Hall.

Wendy McClure, Open Door Theatre's managing director, said the 7 p.m. event will showcase "Making Choices" plus "Stop It Now," a play for kindergarten though third-grade students, and "Talk About Stuff," for kids in fourth through sixth grades. It's a chance for school leaders to learn about scheduling a show and meet Open Door Theatre's cast.

Students ages 13 and older are welcome to attend, but McClure said the middle school play isn't appropriate for younger children.

"I think it's great," Seth Dawson said of next week's Open Door Theatre event. A former Snohomish County prosecutor and longtime crusader against child abuse, Dawson was among the founders of Open Door Theatre in 1983. He was a member of the theater's original board of directors.

"It's always been a small, grass-roots organization," Dawson said. "All these performances do some good. You want to keep them going as much as you can."

McClure said tough economic times have meant fewer school performances for Open Door Theatre. The group is supported by performance fees -- usually $625 -- grants and donations from foundations, service clubs and individuals. The cost may be less in schools with many low-income families or if there is another funding source.

Open Door Theatre mostly serves public schools in Snohomish County, but the group has traveled around the country. Teaching personal safety skills to prevent child abuse has always been the goal.

Programs for younger children focus on understanding differences between healthy and unhealthy touching. "Stop It Now" and "Talk About Stuff" were written by R.N. Sandberg, a playwright and Princeton University faculty member who once headed the drama department at Seattle's Cornish College of the Arts.

Kline said "Making Choices" is about a group of middle school kids, some involved in sexting and spreading rumors. "There are choices about how far you go in setting personal boundaries," Kline said. "Love is not abuse. You need to respect yourself and each other. It's always OK to say no."

In writing the drama, he was guided by talks with Bellevue High health teachers, experts from Youth Eastside Services, and with his own students.

"Kids are saying, 'These are my issues. I deserve to have the information to deal with them,' " Kline said.

"It's a different world our kids are growing up in," McClure said. "Now the risks are higher. Things that go online are forever." While technology has changed the world, "unfortunately childhood sexual abuse and violence haven't stopped," she said.

"It would be wonderful not to be needed anymore," McClure said.

Julie Muhlstein: 425-339-3460; muhlstein@heraldnet.com.

Personal safety shows for schools

The nonprofit Open Door Theatre will show three plays aimed at school audiences, "Stop It Now," "Talk About Stuff" and "Making Choices," 7-8:30 p.m. Thursday at Everett Music Hall. The hall is in a remodeled Everett Mall theater, 1403 Everett Mall Way. School counselors, principals, PTA members, parents and teens welcome; not appropriate for younger children. The free event is an opportunity for school leaders to learn about scheduling shows for their students. Information: 425-303-8783 or http://www.opendoortheatre.org.

Read more from the original source:
The play’s the thing to help kids work through tough situations

Written by admin |

February 18th, 2012 at 9:30 am

Independent book stores find success in crowded e-reader market

Posted: at 9:30 am


Joyce and Bob Gaskin love books. Literature classes at Lamar University served as the setting of their initial courtship which was sometimes punctuated by arguments over book interpretations.

It is only natural that Bob's description of his wife of 25 years is through a metaphor inspired from Shakespeare's "A Midsummer's Night Dream."

"They put a potion in the female lead so when she opens up her eyes she's in a dream and loved the first person she sees," said Bob, 78. "I think Joyce has some Puck's potion in her."

The Gaskins - characters in their own right - are the owners of Red B4 Books, an independent used book seller in Beaumont.

Joyce, 73, says what sets them apart from chain retailers online and in neighborhoods is their personal touch.

"I think it's the difference between Walmart and going to Market Basket. In Market Basket, I could ask for a seasoning for a certain thing and they'll know what I'm talking about," she said. "At Walmart, they'll hardly know I'm there much less I have a question."

A Thriving Independent

Although the 1990s saw many independent book stores succumb to encroaching large chains, tables seemed to have turned in recent years. While big box stores like Borders shuttered with the growing popularity of e-readers, independent book sellers are gaining customers.

"Independent book sellers excel at hand selling in terms of helping readers find the next great read," said Dan Cullen of the American Booksellers Association. "These are not titles that the consumer has in mind when they come into the book store."

Over the holidays in 2011, independent book sales increased by 15.5 percent from the previous year, according to the association.

John Roberts, owner of Book Bazaar in Beaumont, does not believe independent book stores face the same challenges as larger chains. With the onset of e-readers, books are becoming more rare, making older print books more in demand, according to Roberts.

"People thought I was crazy for opening a used book store," said Roberts. "Publishers are going to stop printing books because they're all going to the Kindles. They're going to make the books rare."

He also said that chain retailers have too much diverse inventory and thus high overhead. Used booksellers keep their stock low and cater to what they know the readership is more prone to buying, he said.

Southeast Texas interests

At the Gaskins' Red B4 Books, there is a selection of engineering books standing atop shelves, reflecting the interests of the refinery-heavy Golden Triangle. Meanwhile, the back room of Book Bazaar houses voodoo books and shoppers can find Texana books near the store entrance - marks of the Louisiana influence in the area.

Used book stores usually amass inventory from estate and library sales and whatever the community sells or donates to them, offering customers a collection that is especially representative of Southeast Texas.

"Southeast Texas is probably more culturally mixed in terms of refinery worker readers, types of readers and Louisiana influence," said Bob Gaskin.

Still, the popularity of work and travel reads pall compared to romance novels. Among the genres offered at Reader's Choice in Orange are shelves of romance reads that range from contemporary and historical to paranormal, which owner Celeste Spring says has become very popular.

Spring said both male and female readers have continued to seek out the romance books, even in a tough economy. "(It's) stress relief," said Spring. "You'd be surprised how many people come in and say, 'Give me something that's going to make me laugh.'"

Getting clever

Spring, who is an avid reader of romance novels, is no stranger to hard times. Since opening 11 years ago, the 50-year-old says she's seen her monthly revenue go down by half. Unlike her peers, part of her revenue comes from new books, which e-readers have hurt. On top of that, the ailing economy and hurricanes have also affected her business.

Hurricanes Katrina and Rita damaged business so badly in 2005 that the American Booksellers Association established a relief fund for independent booksellers affected by natural disasters.

"To be in the book business, you have to love books," Spring said. "You're not going to get rich. It's a labor of love."

But Spring knows that a little creativity can carry a business. Spring sells books, movies and music online, reflecting a growing trend toward digitization among local book stores across the country.

Roberts from Book Bazaar has also modified his business to attract knew customers, rotating an art gallery through his store every three months.

The Gaskins' business model remains more traditional. The couple maintains their business logs with pencil on paper and don't accept credit cards.

They rely on their love for traditional paper books to drive sales.

"How sterile. It's just this piece of plastic - no personality," Joyce said of e-readers. "To me, that's kind of sad."

JXChang@BeaumontEnterprise.com Twitter.com/JulieChang1

Read this article:
Independent book stores find success in crowded e-reader market

Written by admin |

February 18th, 2012 at 9:30 am

Posted in Personal Success

Coyotes' Radim Vrbata stays humble despite success

Posted: at 9:30 am


by Jim Gintonio - Feb. 17, 2012 05:38 PM
The Arizona Republic

Use a superlative or point out that his statistics mark him as elite player merely generates a shoulder shrug from Coyotes forward Radim Vrbata. On the verge of setting career highs in goals and points, he also leads the NHL with 19 road goals and is second with nine game winners.

He's a player who rarely gives himself enough credit, as evidenced by how he put his goals in perspective.

A game-winning goal, he said, is a nice stat, "but other guys would be scoring, too, so your goal is the winning one." As for the 19 tallies on the road: "This stat means I don't score too much at home probably," he said with a laugh. "I should pick it up at home. It's a good stat for you, but for us, you try to help any way you can, so that's what I'm focusing on."

Vrbata has tied his career high with 27 goals and is nine points short of breaking his personal best (56).

Coach Dave Tippett, who is preparing his team to face the Dallas Stars on Saturday after an emotional win in Los Angeles on Thursday night, isn't surprised that Vrbata, whose power-play goal helped trigger the 1-0 win over the Kings, shies from the spotlight.

"That's who he is, and that's what makes him a great person and a great player, and he fits very well with our team," Tippett said. "He's concerned about how our group does, not how he does personally. He's been a great fit for us here. It's not just his play, he's a quiet leader in that dressing room and very well respected."

Tippett said Vrbata's season has been "phenomenal," but he goes about it in such a quiet way that it can go unnoticed.

"He's been a go-to guy for us," Tippett said. "I think the two stats that stick out the most are nine game-winning goals and 19 goals on the road. You look at what happens, a lot of times on the road those guys are getting the hardest checkers, and that line of (Martin) Hanzal, (Ray) Whitney, Vrbata -- teams are watching them pretty close."

After a somewhat slow start this season, Vrbata turned things around but said he does not try to find an explanation.

"I just want to go with it," he said. "I try to prepare the same, try to play the same. When you're not scoring it's frustrating. I think (the) first nine games I only had one goal; I don't think my game was too bad.

"As long as you're getting chances, a few will eventually go in, so playing on a line with Marty, who I played with the whole four years I was here, and now second year in row we played with Whits, so ... lots of credit to them. I don't think about it too much. You just want to play."

Injury update

Defenseman Rusty Klesla and forward Taylor Pyatt (upper-body injuries) and defenseman Derek Morris (illness) are listed day to day.

Defenseman David Schlemko, who underwent foot surgery, has been skating and could return before the end of the season.

Read more:
Coyotes' Radim Vrbata stays humble despite success

Written by admin |

February 18th, 2012 at 9:30 am

Posted in Personal Success

Xi declares 'success' as US trip ends in Hollywood

Posted: at 9:30 am


Chinese leader-in-waiting Xi Jinping declared his US visit a "full success," as he rounded it out with a Hollywood film deal and a trip to a basketball game in Los Angeles.

Xi made the comments on Friday, in the final hours of his five-day trip, which started with power talks in Washington and included a charm offensive trip to America's heartland, where he reached out with billions of dollars in farm deals.

"I can now say my visit to the United States has been a full success," Xi said in a visit to an LA school with US Vice President Joe Biden, adding that his meetings with Biden and President Barack Obama had been "very fruitful."

Echoing the warm remarks, Biden -- who visited China last year -- joked: "I envy a lot of things about him, starting with his full head of hair. And I admire his stamina. We have given him virtually no time to sleep."

But Biden also reiterated a key message Xi has heard this week -- that the United States wants Beijing to play the same "rules of the game" to reduce the enormous trade imbalance between the two heavyweights.

"We very much want to see more of our business in China, and Vice President Xi has committed to making that possible," he said, adding: "The faster the US economy grows the more Chinese citizens will benefit."

In America, "we all welcome the competition," he told Xi, who is expected to lead the rising Asian power for a decade starting next year.

But he added: "The crux of our discussion is that competition only benefits everyone if the rules of the game are fair and being followed.

"So we will continue with the Vice President and the Chinese government to make sure that everyone is playing by the same rules, and everyone is on a level playing field."

Xi hailed Biden, saying: "We have established a good personal friendship and working relationship."

Recalling how China competed in the Olympics in 1984 for the first time after being re-admitted, adding that Chinese relations have "made some twists and turns" along way, but "over the years we have made some headway."

Building further cooperation between the nations "is the right strategic decision that serves the interests of both," he said.

Protests have accompanied Xi throughout his trip, and did so to the last: hundreds of Tibetan and Falun Gong activists rallied outside his LA hotel Friday, along with a group of pro-Chinese activists waving red Chinese flags.

A string of deals were signed in the sidelines of Xi's visit, including one Friday by "Kung Fu Panda" US studio giant DreamWorks Animation for a $330 million Chinese joint venture, Oriental DreamWorks.

The tie-up, unveiled by DreamWorks Animation boss Jeffrey Katzenberg, will team his California-based studio with three Chinese companies -- who will hold a majority 55 percent stake -- to operate a studio in Shanghai.

Katzenberg told AFP a short time afterwards that Oriental DreamWorks' first film was expected to be released in 2016.

Ruigang Li, chairman of one of the companies China Media Capital, added: "We share the same vision with DreamWorks Animation to build a world-class family entertainment company."

The announcement came as Xi rounded off a US trip that included a meeting at the White House with Obama, who urged China to play by the "same rules" in the global economy but voiced hope for cooperation.

Xi then traveled to Iowa, where a business delegation accompanying him agreed to buy 317 million bushels of soybeans from major US companies, in a deal estimated to be worth $4.3 billion.

On Friday he was spending his final hours on US soil at an economic forum in downtown Los Angeles, before a National Basketball Association game between the LA Lakers and the Phoenix Suns at the Staples Center.

A commentary on his US trip Friday in the overseas edition of the People's Daily -- the mouthpiece of China's Communist Party -- said the visit had "deepened mutual understanding" between China and the United States.

"Xi Jinping's visit was not long, but it had a big impact in promoting exchanges between the two peoples," it said. "This partnership will certainly see a more healthy development."

The Chinese leader starts the next leg of his trip in Ireland on Saturday. He is also due to travel to Turkey before returning home.

Excerpt from:
Xi declares 'success' as US trip ends in Hollywood

Written by admin |

February 18th, 2012 at 9:30 am

Posted in Personal Success

China's Xi sells U.S. trade elixir, personal chemistry

Posted: at 9:29 am


LOS ANGELES (Reuters) - China's leader-in-waiting Xi Jinping on Friday swiped away fears that his country's economic growth could stumble, and turned to courting American companies, film-makers and governors hungry for a slice of that growth on the final day of his U.S. visit.

At the end of Vice President Xi's five-day trip, his U.S. counterpart Joe Biden announced China had agreed to make it easier for Hollywood to distribute movies to China's expanding audiences. Xi (pronounced "shee") told a business forum in Los Angeles that China would promote greater domestic demand and turn more to the United States to buy imports and send investment.

Despite recent economic slowing and persistent price pressures, Xi told the gathered business executives that China's economic momentum would not falter as some economists warn.

"China's economy will maintain stable growth," he said "There will be no so-called hard landing."

Xi is almost sure to succeed Hu Jintao as Chinese president in just over a year, and the final day of his tour of the United States featured commercial deals and reassuring talk intended to blunt American ire about the trade gap between the countries.

"We will further increase imports from other countries in the light of our economic and social development and consumer demand. We will actively expand imports from the United States," Xi later told a midday meeting.

Biden, who accompanied Xi to Los Angeles, praised the Chinese Vice President's efforts to reach out to often wary Americans, but reminded him that rancor over trade imbalances and barriers had not evaporated in all the sunny goodwill.

"The crux of our discussion is that competition can only benefit everyone if the rules are fair and followed," Biden told the midday reception for Xi.

The U.S. movie industry has long complained about China's restrictions on the number of foreign films allowed into the country each year, a limit that they say boosts demand for the bootleg DVDs that are widely available in China.

The film announcement does not remove China's quota system, but it might ease some of the ire.

The agreement allows more American exports to China of 3D, IMAX, and enhanced-format movies, and also expands opportunities to distribute films through private enterprises rather than the state film monopoly, the U.S. Trade Representative's office said.

GETTING READY FOR NEXT DECADE

The two vice presidents both suggested that Xi's diplomacy, deals and folksy public displays could pave the way for steadier ties between the world's two biggest economies.

Xi said that he felt from his visit that "mainstream American opinion" supports stronger ties. "I can now say that my visit has been fully successful," he said.

"We've established a personal friendship and a healthy working relationship," he said of himself and Biden.

Xi is poised to become China's next leader after a decade in which it has grown to become the world's second-largest economy. Beijing wants to avoid tension with Washington while the Communist Party leaders focus on the power handover.

Xi's visit to the United States was also intended to get both sides more familiar with each other for the decade that he could be in power. He will most likely succeed Hu Jintao as party chief in late 2012 and as president in early 2013.

Under Xi, China's economic size and military capabilities are likely to grow closer to U.S. levels.

Washington and Beijing have often jostled over economic, political and foreign policy disputes from human rights to Taiwan and most recently Syria.

The U.S. trade deficit with China expanded to a record $295.5 billion in 2011, and many U.S. lawmakers complain China's yuan currency is significantly undervalued, giving its companies an unfair advantage.

The Obama administration has also accused China of distorting trade flows by ignoring intellectual property theft, putting up barriers to foreign investors and creating rules that favor China's state-owned behemoths.

Xi's stop in Los Angeles was choreographed to blunt those complaints and make China's case that its rapid growth presents the U.S. economy with opportunities, not threats.

Scores of executives from major U.S. and Chinese companies, from Intel to Microsoft, lined up to sign deals after Xi's address at the economic forum on Friday.

They included "Kung Fu Panda" studio Dreamworks Animation's venture to make films from Shanghai, and Chinese telecom giant Huawei's pledge to award $6 billion in contracts over three years to Qualcomm Inc, Broadcom Corp and Avago.

"MISSION IMPOSSIBLE" FAN

More than the publicly stern Chinese President Hu, Xi has tried to put a friendlier face on his government during his U.S. visit, including revisiting the small town of Muscatine in Iowa where he visited in 1985 and stayed two nights with a family.

The 58-year-old also visited the International Studies Learning School in South Gate -- a Los Angeles enclave of mainly Hispanics -- where students learn Chinese.

At the school, Xi recalled his first visit to Muscatine: "They gave me the same impression that, like Chinese people, they are warm-hearted, friendly, honest and hard-working. Twenty-seven years have passed, but that remains my impression, and it has become a deeper one."

Xi also offered a glimpse of his personal life, telling the students he enjoyed swimming and watching sports, including American basketball, baseball and gridiron football.

Showing his familiarity with Hollywood fare, Xi said it was difficult to find time to relax. "It's like the name of that American movie -- 'Mission Impossible'."

After their visit to the school, Biden told reporters the talks with Xi had been very forthright, and was also intensely curious about the workings of the American political system.

"This is a guy who wants to feel it and taste it, and he's prepared to show another side of Chinese leadership," said Biden. "He is intensely interested in understanding why we think the way we do, what our positions are, and the need to actually broaden this kind of understanding."

Xi was due to watch part of an LA Lakers basketball game before he left for the next two countries of his international tour, Ireland and then Turkey.

(Additional reporting by Doug Palmer and Paul Eckert in Washington; Editing by Todd Eastham and Robert Birsel)

Go here to read the rest:
China's Xi sells U.S. trade elixir, personal chemistry

Written by admin |

February 18th, 2012 at 9:29 am


Page 7,381«..1020..7,3807,3817,3827,383..7,3907,400..»



matomo tracker