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GOP's Chambliss jumps to early lead in Ga. Senate- Republican Sen. Saxby Chambliss jumped out to an early lead Tuesday over Democrat Jim Martin in Georgia's U.S. Senate runoff that attracted light voter turnout despite the contest's high stakes on the balance of power in Washington.
Police: Mumbai gunmen came by sea from Pakistan- The gunmen who attacked Mumbai set out by boat from the Pakistani port of Karachi, then later hijacked an Indian fishing trawler that carried them toward this financial capital on their suicide mission, a top police official said Tuesday.
Gates: Military looks to accelerate Iraq pullout- Defense Secretary Robert Gates signaled a willingness Tuesday to forge ahead with two key priorities for the incoming Obama administration: accelerating the U.S. withdrawal from Iraq and shutting down the Guantanamo Bay detention center.
- The divorce rate among soldiers and Marines increased last year as military marriages suffered continuing stress from America's two ongoing wars. There were an estimated 10,200 failed marriages in the active duty Army and 3,077 among Marines, according to figures obtained by the Associated Press for the budget year ended Sept. 30.
Auditors fault Treasury oversight of bailout funds- The government must toughen its monitoring of the $700 billion financial bailout to ensure that banking institutions limit their top executives' pay and comply with other restrictions, federal auditors said Tuesday in the first comprehensive review of the rescue package.
Chained teen shows up at Calif. gym; 2 arrested- A Girl Scout leader and her husband were arrested after an emaciated, terrified and nearly naked 17-year-old showed up at a gym with a chain locked to his ankle, saying he had just fled his captors, authorities said Tuesday.
Nixon records show aides dishing dirt on critics- In Richard Nixon's time, all the president's men fretted about threats on every front: disquiet out on the streets, disloyalty inside the administration and trouble from political opponents who had to be discredited at any cost.
Coleman pleads no contest to disorderly conduct- Gary Coleman has pleaded no contest to a disorderly conduct charge stemming from a September incident at a bowling alley. The 40-year-old former star of "Diff'rent Strokes" was ordered to pay a $100 fine in a Payson court Tuesday. He also pleaded no contest to a reckless driving charge, which will be waived if he doesn't have any other violations within a year.
- A message in a bottle tossed into the ocean off Barnegat Bay has turned up in North Carolina - 39 years later. The note was sealed in a Schaefer beer bottle. It was dated Aug. 17, 1969 and read: "If found notify the North Haledon Fire Co. 2."
Giants suspend Burress for rest of regular season- Super Bowl hero Plaxico Burress is done for the year. The New York Giants fined and suspended Burress on Tuesday for four games - the rest of the regular season - after he accidentally shot himself in the right thigh over the weekend at a Manhattan nightclub. The team also placed him on the reserve non-football injury list, which means the wide receiver couldn't come back for playoffs, either.
Ernst & Young US IPO Pipeline Report Shows Increased New Registrants Despite Turbulent Market
NEW YORK
(Map)
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Of those that were removed from the pipeline in Q2, 19 companies withdrew
or postponed their offerings, 12 were removed after sitting in the pipeline
for over a year and nine companies reached the public markets. Companies in
the current pipeline seek to raise
The New York Stock Exchange remained one of the top three exchanges worldwide, raising 11% of global capital and launching two of the top 10 deals for the quarter (American Water and Intrepid Potash -- both US-domiciled, as well).
"Many factors -- from high market volatility, the slowdown in the world economy, sustained high oil prices and overall uncertainty -- all combined to weaken the IPO pipeline for the second quarter," said
The overall IPO pipeline looks particularly pale in comparison to the market last year at this time.
IPO Pipeline Comparison:
Time Period # of Deals Dollar Amounts Average Deal Size
End of Q2 2007 97 $18.2 billion $ 187.3 million
End of Q2 2008 80 $15.5 billion $ 193.3 million
According to Jackie Brya Kelley, Americas IPO Leader, Ernst & Young LLP, the average amount of time companies wait in the pipeline has nearly doubled over the past year. "On average, IPOs now in the pipeline have remained there for 170 days," said Brya Kelley. "Last year at this time, IPOs waited in the pipeline just 98 days on average."
Technology (22 companies) and biotechnology (13 companies) are still the
leading sectors in the current pipeline, though these two industries also
represented the most withdrawals. The four asset management companies in the
pipeline combined seek to raise the most of any sector with
About Ernst & Young's Strategic Growth Markets Practice
Ernst & Young's Strategic Growth Markets (SGM) practice guides the best high-growth companies. Our multi-disciplinary team of elite professionals provides perspective and advice to help our clients accelerate market leadership. SGM delivers assurance, tax, transactions and advisory services to thousands of companies spanning all industries. Ernst & Young is the undisputed leader in taking companies public, advising key government agencies on the issues impacting high-growth companies, and convening the experts who shape the business climate. For more information, please visit us at www.ey.com/us/strategicgrowthmarkets.
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This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited.
SOURCE Ernst & Young
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