The Bond Buyer articles from August 2008

The Bond Buyer archives from August 2008

Massachusetts Official Files Suit Against Merrill; Claims Researchers Downplayed ARS Risks.(Washington)
August 1, 2008... Byline: Andrew Ackerman WASHINGTON - Merrill Lynch & Co. sales and trading managers altered their research department's reports on the auction-rate securities market to minimize the risks of the securities and to forestall a collapse of...

Far West Bond-Watch.(Far West)
August 1, 2008... Byline: Andrew Ward CALIFORNIA Seeking to Avoid Raw Deal California's fiscal 2008-2009 budget is a month and a half late today. Negotiations continue between legislative leaders and Gov. Arnold Schwarzenegger. They have less...

Transportation: DOT Plan Includes Provision to Eliminate $15B PAB Cap.(Washington)
August 1, 2008... Byline: Audrey Dutton A federal plan to revamp the national transportation system would remove the $15 billion cap on private-activity bonds used to finance construction of highways and rail-to-truck freight transfer facilities, withhold...

Legislation: House Offers Bill Extending CREB Authorization for 5 More Years.(Washington)
August 1, 2008... Byline: Peter Schroeder A bipartisan bill introduced yesterday in the House would authorize clean renewable energy bonds for another five years and provide other energy tax incentives. The current authority for CREBs expires Dec. 31....

People: FHA Nominee Wins Bipartisan Praise From Senate Committee.(Washington)
August 1, 2008... Byline: Audrey Dutton A former New York transportation official who helped obtain a $2.9 billion statewide bond package for transit, highway, and bridge projects, sailed through a Senate committee hearing Wednesday, earning bipartisan...

People: Fitch Analyst Peter Stettler Going to Aviation Consultant.(Underwriters and Dealers)
August 1, 2008... Byline: Caitlin Devitt CHICAGO - Longtime Fitch Ratings airport analyst Peter Stettler will leave the agency this month to join an aviation consulting group based in Chicago. Stettler, 41, leaves Fitch after 10 years at its Chicago...

Illinois' Blagojevich Scales Back Budget, Drops Casino Plan.(News)
August 1, 2008... Byline: Caitlin Devitt CHICAGO -Illinois Gov. Rod Blagojevich yesterday scaled back his long-stalled $34 billion capital budget and dropped a proposal to fund the plan by adding three more casinos across the state, including one in...

Yields: Most Indexes Decline as Tax-Exempts Ride Treasury Coattails.(Investors and Investing)
August 1, 2008... Byline: Michael Scarchilli Most of The Bond Buyer's weekly yield indexes declined this week, as tax-exempts posted gains in most of the week's sessions, riding the coattails of a strengthening Treasury market. Howard Mackey, president...

Ohio County Uses 3d-Party Payment to Settle Tax Law Dispute With IRS.(News)
August 1, 2008... Byline: Peter Schroeder WASHINGTON -Clinton County, Ohio, has settled tax law disputes with the Internal Revenue Service over two hospital revenue bond issues totaling over $300 million, using an unidentified third-party payment to fund...

Jefferson County Still Scrambling for Sewer Deal Forbearance Agreement.(The Regions)
August 1, 2008... Byline: Shelly Sigo BIRMINGHAM, Ala. - Jefferson County as of yesterday afternoon was still seeking a new forbearance agreement with creditors as it continued to struggle to put together a sewer debt restructuring plan acceptable to all...

Louisiana Coastal Protection Agency Meets to Chart Development, Funding.(The Regions)
August 1, 2008... Byline: Jim Watts DALLAS - Discussions at the first official meeting of Louisiana's Coastal Protection and Restoration Financing Corp. focused on the need to maintain and improve the state's economically important coastal areas with...

Bond Insurers: Moody's Defends Criteria for Insurers.(Underwriters and Dealers)
August 1, 2008... Byline: Jack Herman Moody's Investors Service's system of rating insurers has always been based on more than just capital requirements, the agency said yesterday in a teleconference held to respond to market reaction to recent rating...

Advance 2Q GDP Shows 1.9% Growth.(News in Brief)
August 1, 2008... Byline: Market News International The U.S. gross domestic product report showed the expected surge in the second quarter to 1.9% real growth, while annual revisions lowered growth in 2004-07 and into the first quarter of 2008, mainly due to...

Jobless Claims Rise 44,000 To 448,000 in July 26 Week.(News in Brief)
August 1, 2008... Byline: Market News International Initial claims for state unemployment benefits jumped 44,000 to 448,000 in the July 26 week, as the new emergency unemployment compensation program recently voted on by Congress is now being enacted,...

Employment Cost Index Rises 0.7% in 2d Quarter.(News in Brief)
August 1, 2008... Byline: Gary E. Siegel The U.S. second-quarter employment cost index rose 0.7% for overall compensation costs to civilian workers, the Labor Department reported yesterday. Economists polled by IFR Markets predicted a 0.7% rise in the...

Chicago PMI Barometer Up To 50.8 From 49.6 in June.(News in Brief)
August 1, 2008... Byline: Gary E. Siegel The Chicago Purchasing Managers' Business Barometer rose to an expansionary 50.8 in July from 49.6 in June, the National Association of Purchasing Management-Chicago said yesterday. Economists polled by IFR...

July NAPM-NY Index Drops to 38.5.(News in Brief)
August 1, 2008... Byline: Gary E. Siegel New York City businesses suffered a downturn in July, declining at a faster pace than in June, according to the National Association of Purchasing Management-New York's Report on Business. The current business...

K.C. Fed: Manufacturing Rebounded in July.(News in Brief)
August 1, 2008... Byline: Gary E. Siegel Manufacturing activity in the Federal Reserve Bank of Kansas City's region "rebounded considerably in July, although firms' expectations for future activity diminished slightly. Most price indexes remained near...

TxDOT Sees $2.4B Bypass for Austin-San Antonio Commuter Rail.(The Regions)
August 1, 2008... Byline: Richard Williamson DALLAS - A new bypass that would open up existing freight tracks for commuter rail between Austin and San Antonio would cost $2.4 billion, with the means of financing yet to be identified, according to a report...

People: Luis Aguilar Sworn as New SEC Member.(Washington)
August 1, 2008... Byline: Lynn Hume Luis A. Aguilar, a former partner at McKenna Long & Aldridge LLP in Atlanta, was sworn in as a member of the Securities and Exchange Commission yesterday and began his first day of work. Aguilar, a Democrat whose...

SIFMA Pushes for Global Ratings 'Harmonization'.(News)
August 1, 2008... Byline: Andrew Ackerman and Amy B. Resnick WASHINGTON - Fitch Ratings yesterday proposed changes in its municipal ratings framework that would result in one- to two-notch upgrades on most general obligation bonds and debt backed by...

Issuers: Variable-Rate Liquidity Drying Up.(Far West)
August 1, 2008... Byline: Andrew Ward SAN FRANCISCO - The liquidity that lubricates the variable-rate bond market is drying up. Municipal issuers such as the Bay Area Toll Authority, the Los Angeles Department of Water and Power, San Diego County, the...

Money Market Funds: Tax-Exempts See Another Week of Outflows.(Investors and Investing)
August 1, 2008... Byline: Christine Albano By Christine Albano Although tax-exempt funds lost significantly less than last week, they still suffered another week of outflows, losing $482.3 million for the week ending July 28, according to the Money Fund...

July Sees $30.5B of Long-Term Debt Sold.(News)
August 1, 2008... Byline: Christine Albano Amid ongoing market volatility and continued pressure from the credit crisis, a total of $30.51 billion in long-term debt was sold during the month of July, making it the third weakest month so far in 2008,...

Munis Firm Following Strong Treasuries.(Market News)
August 1, 2008... Byline: Michael Scarchilli and Jack Herman The municipal market was slightly firmer yesterday, following the strengthening Treasury market. "I think we're up about three basis points," a trader in New York said. "We're following...

Ambac to Settle a CDO Exposure; Will Pay Citi $850M, Terminating $1.4B.(News)
August 4, 2008... Byline: Jack Herman Ambac Financial Group Inc. has agreed to pay Citi $850 million to settle one of its largest collateralized debt obligation exposures, improving the excess capital position of insurer subsidiary Ambac Assurance Corp.,...

Mutual Funds: Weekly Reporters See Net Inflow of $225 Million.(Investors and Investing)
August 4, 2008... Byline: Michael Scarchilli Weekly reporting municipal bond mutual funds had a net inflow of $255 million during the period ending July 30, AMG Data Services reported. The results were down from a $509 million inflow the previous week,...

Northeast Bond-Watch.(Northeast)
August 4, 2008... Byline: Lynne Funk , Michelle Kaske MARYLAND Wanted: Infrastructure Funds Congress should provide funding for the nation's crumbling infrastructure if lawmakers introduce a second economic stimulus package, Maryland Gov. Martin...

Auction-Rate Securities: Citi Reveals SEC Probe, Multiple State Subpoenas.(Washington)
August 4, 2008... Byline: Andrew Ackerman Citi disclosed Friday in a 10-Q quarterly filing with the Securities and Exchange Commission that it has received subpoenas or requests for information from several self-regulatory agencies and federal authorities,...

Legislation: Obama Pushes Plans for Shortfall, Highway Fund.(Washington)
August 4, 2008... Byline: Peter Schroeder Sen. Barack Obama, D-Ill., unveiled an "emergency" economic plan Friday that would provide $25 billion to states to cover budgetary shortfalls and another $25 billion to replenish the struggling highway trust fund...

Georgia's Gwinnett County Readies $190M Water-Sewer Bond Package.(The Regions)
August 4, 2008... Byline: Tedra Desue ATLANTA -The market on Wednesday will have the chance to pick up some natural triple-A rated debt when the Gwinnett County Water and Sewerage Authority in Georgia issues $190 million of revenue bonds. This is a rare...

Enforcement: San Diego Housing Agency Settles With IRS Over 2001 Issue.(Washington)
August 4, 2008... Byline: Peter Schroeder The San Diego Area Housing and Finance Agency has settled a tax dispute with the Internal Revenue Service over $82 million of "lease-to-own" bonds issued in 2001, according to a municipal disclosure notice the...

Jefferson County OKs Fourth Extension.(News)
August 4, 2008... Byline: Shelly Sigo BRADENTON, Fla. - Jefferson County, Ala., commissioners Friday met in a special session and approved their fourth extension to debt forbearance agreements with liquidity providers, bond insurers, and swap...

Add LAUSD's $7B to Multibillion-Dollar Ballots by L.A. College District, MTA.(The Regions)
August 4, 2008... Byline: Andrew Ward SAN FRANCISCO - The Los Angeles Unified School District last week placed a $7 billion general obligation bond measure on the Nov. 4 ballot. The measure joins a crowded Los Angeles ballot that already includes a...

Munis Unchanged to Slightly Firmer.(Market News)
August 4, 2008... Byline: Michael Scarchilli and Jack Herman The municipal market was unchanged to slightly firmer Friday. "There isn't a whole lot going on right now, and we're probably mostly flat, but there's a better tone in the market again," a...

People: NABL Official Elizabeth Wagner Joins IRS as Senior Counsel.(Wsahington)
August 4, 2008... Byline: Lynn Hume The National Association of Bond Lawyers is searching for a new director of governmental affairs following the departure of Elizabeth Wagner, who joins the Internal Revenue Service today as senior counsel to the...

Payrolls Fall 51,000; Jobless Rate Up to 5.7%.(News in Brief)
August 4, 2008... Byline: Market News International WASHINGTON -The U.S. July employment report continues the recession theme: July marked seven consecutive months of job losses at a 51,000 drop in payrolls and the civilian unemployment rate is up a full...

Construction Spending Dips 0.4% to $1.082 Trillion.(News in Brief)
August 4, 2008... Byline: Gary E. Siegel Spending on construction projects fell 0.4% to a seasonally adjusted annual rate of $1.082 trillion in June, as private construction decreased 0.4% and public construction slid 0.2%, according to Commerce Department...

ISM Index at 50.0 in July, Off From 50.2 in June.(News in Brief)
August 4, 2008... Byline: Gary E. Siegel The overall economy grew for the 81st straight month, while the manufacturing sector was flat, the Institute for Supply Management reported Friday. According to the ISM's monthly report on business, the index...

ECRI Inflation Gauge Slips to 112.4 in July.(News in Brief)
August 4, 2008... Byline: Gary E. Siegel Inflationary pressures were lower in July as the U.S. future inflation gauge fell to a near six-year low of 112.4 from a revised 114.9 in June, originally reported as 115.2, according to data released Friday by the...

Troy Paredes Sworn In as SEC Commissioner.(News)
August 4, 2008... Byline: Andrew Ackerman WASHINGTON - Troy Paredes, a securities law professor at Washington University in St. Louis, was sworn in Friday as a member of the Securities and Exchange Commission. Paredes, a Republican whose academic...

Report: State Roads Better After SAFETEA-LU, But Problems Linger.(Washington)
August 4, 2008... Byline: Audrey Dutton Major federal transportation legislation enacted in 2005 helped states make gains in highway infrastructure even though problems such as traffic congestion and bridge deficiencies persist, the Reason Foundation said...

Trends In The Region: AMT-Free and 'Awesome' in N.Y. Mortgage Bonds Sell After Bush Signing.(Northeast)
August 4, 2008... Byline: Ted Phillips The State of New York Mortgage Agency held off on selling $167.8 million of single-family mortgage bonds until the ink was dry on the new federal housing law. Now it can take retail orders beginning today for bonds...

Tulsa Mayor Offers $452 Million Compromise Street Plan.(The Regions)
August 4, 2008... Byline: Jim Watts DALLAS - Tulsa Mayor Kathy Taylor has proposed a $451.6 million street maintenance plan, which would be financed in part with $258 million of general obligation bonds, as a compromise to two competing street programs...

Virginia Finance Secretary Wagner to Leave Administration.(News)
August 4, 2008... Byline: Lynne Funk WASHINGTON -Jody M. Wagner plans to step down as Virginia's secretary of finance at the end of this week and go back to her home in Virginia Beach. While Wagner said she has no specific plans, sources said they expect...

The Week Ahead: August Ready to Kick Off With Issues From N.Y., N.J., and BATA.(Investors & Investing)(Calendar)
August 4, 2008... Byline: Christine Albano As the municipal market closes the books on July, which saw $30.51 billion of long-term volume, issuers in New York, California, and New Jersey will usher in August with three of this week's largest deals as part...

Southwest Bond-Watch.(Southwest)
August 5, 2008... Byline: Jim Watts, Jason Philyaw ARIZONA Tax Revenues Nose-Dive Arizona sales tax revenue declined in fiscal 2008 for the first time since 1981, according to the latest revenue report from the Joint Legislative Budget Committee....

Moody's Drops Channel Re to Baa1 With Negative Outlook; Cites CDO Exposure.(News)
August 5, 2008... Byline: Jack Herman Moody's Investors Service yesterday downgraded Channel Reinsurance Ltd. to Baa1 with a negative outlook from Aa3, citing uncertainty about the reinsurer's business prospects and mortgage-related collateralized debt...

Erie County, N.Y., Control Board Chair Baynes Resigns.(The Regions)
August 5, 2008... Byline: Ted Phillips Anthony J. Baynes, chairman of the Erie County, N.Y., Fiscal Stability Authority, resigned yesterday, citing health reasons. Baynes, an appointee to the board by former Gov. George Pataki in 2005, clashed with the...

People: Senate Confirms Madison for FHWA Position.(Washington)
August 5, 2008... Byline: Audrey Dutton A former New York state transportation official who helped obtain $2.9 billion of bonds for highway and other projects and pushed for more private investment in state infrastructure has cleared the final hurdle to...

Michigan Agency Selling $690M of Cash-Flow Notes for Schools.(News)
August 5, 2008... Byline: Caitlin Devitt CHICAGO - The Michigan Municipal Bond Authority plans to enter the market today with $690 million in short-term revenue notes that will be used to ease fiscal 2009 cash-flow deficits for local school districts across...

Mississippi Receives Three Proposals for P3.(The Regions)
August 5, 2008... Byline: Shelly Sigo BRADENTON, Fla. - The Mississippi Department of Transportation on Friday received three statements of qualifications from firms interested in entering into the state's first public-private partnership. The project...

Munis Unchanged in Summer Doldrums.(Market News)
August 5, 2008... Byline: Michael Scarchilli and Jack Herman The municipal market was largely unchanged yesterday. "I don't really see anything going on in munis, even with Treasuries off a bit," a trader in New York said. "It's one of those Monday dog...

June Personal Income Up 0.1%; PCE Rises 0.6%.(News in Brief)
August 5, 2008... Byline: Gary E. Siegel Personal income increased 0.1%, and disposable personal income decreased 1.9%, in June, according to the Bureau of Economic Analysis. Personal consumption expenditures increased 0.6%. In May personal income...

Factory Orders Jump 1.7%; Ex-Transport Soar 2.3%.(News in Brief)
August 5, 2008... Byline: Gary E. Siegel New factory orders for manufactured goods jumped 1.7% in June, the Commerce Department said yesterday. The factory order increase, to $457.630 billion, was larger than the 0.7% increase projected by IFR Markets...

Conference Board ETI Falls to 112.1 in July.(News in Brief)
August 5, 2008... Byline: Gary E. Siegel More softening is seen in the labor market, according to the Conference Board's employment trends index, which slid to 112.1 in July from 113.1 in June. The index has been in a year-long decline in July, falling...

Weekly T-Bills Go At 1.695%, 1.880% Highs.(News in Brief)
August 5, 2008... Byline: Gary E. Siegel Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher yesterday, as the three-months incurred a 1.710% high rate, up from 1.695% the prior week, and the six-months incurred a...

Treasury to Sell $28B 4-Week Bills.(News in Brief)
August 5, 2008... Byline: Gary E. Siegel The Treasury Department yesterday said it will sell $28 billion of four-week discount bills today. There are currently $52.970 billion of four-week, or 28-day, bills outstanding. The bills have an issue date...

N.Y. Retirement Fund Ends FY '08 With Positive 2.56% Return.(The Regions)
August 5, 2008... Byline: Ted Phillips The New York State Common Retirement Fund ended fiscal 2008 with a positive return of 2.56%, Comptroller Thomas DiNapoli said yesterday. "There will always be up years and down years in the market, but the...

Groups Launch Amendment Drive To Boost Oklahoma Education Spending.(The Regions)
August 5, 2008... Byline: Jim Watts DALLAS - The Oklahoma Education Association and other educator groups in the state will begin a petition initiative on Wednesday to force the state to increase funding for public education by $850 million a year. The...

N.Y.-N.J. Port Agency Vows to Block Auctioned Flight Slots Allocated by FAA.(The Regions)
August 5, 2008... Byline: Ted Phillips The Port Authority of New York and New Jersey yesterday said it would block flights into the three airports serving the New York City metropolitan area that are allocated landing slots through an auction conducted by...

It's Official: Syncora Is the New Security Capital Assurance.(News)
August 5, 2008... Byline: Jack Herman Security Capital Assurance Ltd. yesterday officially changed its name to Syncora Holdings Ltd. The names of SCA's bond insurer subsidiaries-XL Capital Assurance Inc. and XL Financial Assurance Ltd.-have changed to...

Bingaman Eyes Bond Reform; Easing Purchasing Restrictions at Issue.(The Regions)
August 5, 2008... Byline: Andrew Ackerman WASHINGTON - Sen. Jeff Bingaman, a member of the Senate Finance Committee,plans to introduce legislation next month that would boost demand for municipal debt by easing restrictions on the ability of banks and...

Merrill: Tax Hikes Could Boost Munis.(Washington)
August 5, 2008... Byline: Peter Schroeder A recent research report by Merrill Lynch & Co. concludes that a soaring federal deficit and the tax hikes that may be necessary to combat it could make municipal bonds more attractive to investors in the coming...

Texas Schools Feel Pinch; Property Tax Cap Leaves Districts Reeling.(Southwest)
August 5, 2008... Byline: Richard Williamson DALLAS - Two years ago, Texas lawmakers passed the largest property-tax relief package in the state's history. This year, Texas school districts are the ones begging for relief as operating costs soar but...

Wisconsin Readies $485M; Eyes Tobacco Restructuring.(The Regions)
August 5, 2008... Byline: Yvette Shields CHICAGO -Wisconsin will enter the market as soon as today with a $185 million transportation revenue bond sale and will return later this month to issue about $300 million of general obligation bonds before the...

Albuquerque School District Issuing $134 Million for Construction.(The Regions)
August 6, 2008... Byline: Jim Watts DALLAS - Albuquerque Municipal School District No. 12 will continue its ongoing capital improvement program with the proceeds from today's competitive sale of $134 million of general obligation school construction bonds....

Midwest Bond-Watch.(Midwest)
August 6, 2008... Byline: Yvette Shields, Caitlin Devitt ILLINOIS S&P Raises Kendall County Standard & Poor's this week upgraded Kendall County's general obligation rating to AA from AA-minus, citing its maintenance of strong financial operations...

Deal In focus: Springfield, Ill., Deals for Utility, ARS.(Midwest)
August 6, 2008... Byline: Yvette Shields CHICAGO - Bolstered by a ratings upgrade, Springfield, Ill., will enter the market next week with about $104 million of senior-lien electric utility revenue bonds to raise the funds to complete a new coal-fired...

Indiana Governor Proposes Taxpayer Refunds If Reserves Are Sufficient.(The Regions)
August 6, 2008... Byline: Caitlin Devitt CHICAGO - Indiana Gov. Mitch Daniels yesterday announced a proposal for taxpayers to receive an automatic tax refund if the state's reserve funds hit a certain level. The Republican governor, who is up for...

Enforcement: IRS Keeps Maryland Agency's '02 Bonds Tax-Exempt.(Washington)
August 6, 2008... Byline: Peter Schroeder The Maryland Health and Higher Educational Facilities Authority has disclosed that the Internal Revenue Service has closed an arbitrage rebate-related examination of $39.3 million of revenue bonds it issued in 2002...

Jefferson County Asks for Special Session.(News)
August 6, 2008... Byline: Shelly Sigo BRADENTON, Fla.- The Jefferson County Commission yesterday approved a resolution asking Alabama Gov. Bob Riley to call a special session of the Legislature to consider the county's sewer debt restructuring plan. ...

Kansas City Taps Lubbock Finance Chief for CFO Position.(The Regions)
August 6, 2008... Byline: Yvette Shields CHICAGO - Kansas City, Mo., city manager Wayne Cauthen announced the hiring of former Lubbock, Tex., finance chief Jeffrey Yates to fill the city's chief financial officer position, left vacant by the departure of...

More MassPike Oversight? State Bill Calls For Tighter Controls.(News)
August 6, 2008... Byline: Michelle Kaske Massachusetts bonding authorities could receive additional oversight on borrowing if Gov. Deval Patrick signs legislation granting the state's Finance Advisory Board increased supervisory powers, an initiative that...

Detroit Airport Agency OKs $3.6B Plan; Delays Runway, Monorail.(The Regions)
August 6, 2008... Byline: Caitlin Devitt CHICAGO - The board of the Wayne County Airport Authority recently approved a $3.6 billion master plan for the Detroit Metropolitan Wayne County Airport that postpones plans to build a fifth runway and a passenger...

Munis Unchanged; FOMC Holds Rate Target.(Market News)
August 6, 2008... Byline: Michael Scarchilli and Jack Herman The municipal market was largely unchanged yesterday as the Federal Open Market Committee held the federal funds rate target unchanged at its monetary policy-setting meeting. Traders said the...

FOMC Holds Funds Rate; Announces No Bias.(News in Brief)
August 6, 2008... Byline: Gary E. Siegel The Federal Open Market Committee meeting today yielded no change in the federal funds rate, which the panel held at 2%, and offered no bias, citing upside risks to inflation and downside risks to growth. ...

ISM Non-Mfg Index Rises to 49.5 in July.(News in Brief)
August 6, 2008... Byline: Gary E. Siegel The Institute for Supply Management's non-manufacturing business activity composite index was 49.5 in July, up from 48.2 in June on a seasonally adjusted basis, the group said yesterday. Economists polled by IFR...

Treasury 4-Weeks Go At 1.720% High Yield.(News in Brief)
August 6, 2008... Byline: Gary E. Siegel The Treasury Department yesterday auctioned $28 billion of four-week bills at a 1.720% high yield, a price of 99.866222. The coupon equivalent was 1.746%. The bid-to-cover ratio was 2.77. Tenders at the high rate...

Transportation: States Compete for $30M in Federal Grants for Intercity Rail.(Washington)
August 6, 2008... Byline: Audrey Dutton More than 20 states are vying for $30 million in federal grants to help finance intercity passenger-rail projects, through the first federal-state partnership of its kind at the U.S. Department of Transportation,...

MSRB Eyes Jan. EMMA Start in Secondary; Asks SEC to Adopt Rule 15c2-12 Changes.(Washington)
August 6, 2008... Byline: Andrew Ackerman WASHINGTON - The Municipal Securities Rulemaking Board is proposing that the Securities and Exchange Commission allow it to begin operating the secondary market disclosure component of its EMMA system by Jan. 1,...

West Virginia School Authority Kicks Off Two-Day, $100M Sale.(The Regions)
August 6, 2008... Byline: Shelly Sigo BRADENTON, Fla. - The West Virginia School Building Authoritytoday begins a two-day, $100 million bond offering that will launch a new, long-term financing program to assist the state's public schools with capital...

Moody's Lifts San Francisco GOs Ahead of $43M Parks Deal.(The Regions)
August 6, 2008... Byline: Andrew Ward SAN FRANCISCO -Moody's Investors Service Monday upgraded San Francisco's general obligation credit to Aa2 from Aa3 as the city prepares to sell $43 million of GOs for its parks system. "The upgrade primarily...

Bond Insurers: Ambac Expects Connie Lee to Start Writing Business in Oct.(Underwriters and Dealers)
August 7, 2008... Byline: Jack Herman Ambac Financial Group Inc. said yesterday its recapitalization plan for its muni-only bond insurer Connie Lee Insurance Inc. has been well received by the market, and it expects the insurer will begin writing new...