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InvestSource, Inc.: Good Life China (GLCC) To Acquire An Agriculture
Company
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:29082008
Stocks in the News: Good Life China Corporation (Pink Sheets: GLCC),
Delhaize Group (Euronext Brussels: DELB, NYSE: DEG), Campbell Soup
Company (NYSE:CPB), Galaxy Nutritional Foods (OTC Bulletin Board:
GXYF),
Aug 28, 2008 -- Good Life China Corporation (Pink Sheets: GLCC)
www.goodlifechina.com is pleased to announce that it has signed a
Letter of Intent to acquire a second Chinese based company of similar
size and financial stature to Good Life's current operations. The
company is in the agriculture business, with revenues in the 5-6
million dollar range and assets of about 10-14 million dollars. The
purchase price consists of cash and restricted stock.
The parties are beginning the due diligence process which they expect
to complete within the next 60-90 days.
Based on a successful acquisition, GLCC will be looking at the option
of uplifting itself and or the targeted acquisition Company to the
OTCBB, in line with previous announcements and filings made by the
Company. This will require auditing of the respective financial
statements of the two companies, and a thorough review of other
disclosure requirements including compliance with some aspects of
Sorbanes Oxley.
Additional announcements will be made as the negotiations move forward,
either through news worthy updates or update notices filings on Pink
Sheets.
August 28, 2008 -- Delhaize Group (Euronext Brussels: DELB, NYSE: DEG),
the Belgian international food retailer, reported today that Craig
Owens, Executive Vice President and Chief Financial Officer of Delhaize
Group, after seven successful and rewarding years at Delhaize Group has
decided to accept the offer of Campbell Soup Company (CPB) to become
its Chief Financial Officer and Chief Administrative Officer. The
process to appoint a successor for Craig Owens as CFO of Delhaize Group
has already been initiated and will be diligently pursued.
Craig Owens (1954) has been Executive Vice President and Chief
Financial Officer of Delhaize Group since 2001. He is a member of the
Group's Executive Committee. Mr. Owens will leave Delhaize Group on
September 30, 2008.
"While I truly regret to see him leave our organization, my first
thought is to thank Craig for his major contributions to Delhaize Group
over the past seven years and wish him the best in this new job," said
Pierre-Olivier Beckers, President and CEO of Delhaize Group. "Craig has
provided exemplary leadership in the Company's drive to build strong
finance, strategy and IT organisations, and those organizations will
continue to support our performance and growth going forward. Very
capable professionals are in place in each of the functional areas
under Craig's responsibility. We have begun a process that will be
diligently pursued to choose a new CFO." "Although I am looking forward
to this new professional opportunity, it is a difficult decision to
leave Delhaize Group where I have enjoyed the chance to work with such
a capable management team in a Company with its well deserved
reputation for industry leadership," added Craig Owens.
August 28, 2008 -- Campbell Soup Company (NYSE:CPB) today announced the
appointment of B. Craig Owens as Senior Vice President and Chief
Financial Officer (CFO) and Chief Administrative Officer (CAO). Owens,
53, will report to Campbell President and Chief Executive Officer,
Douglas R. Conant. His appointment is effective October 6, 2008.
As CFO, Owens will have direct management responsibility for Campbell's
Controller's, Corporate Development, Investor Relations, Corporate
Audit, Treasury and Tax departments. He succeeds Robert A. Schiffner,
who stepped down as CFO on August 1, 2008. Schiffner will retire from
the company on January 31, 2009, and in the interim will assist in
Owens' transition. As CAO, a newly created position, Owens will have
oversight responsibility for Campbell's Information Technology and
Global Supply Chain functions.
Owens will join Campbell from the Delhaize Group (NYSE: DEG - News),
where he has been Executive Vice President and CFO since 2001. Delhaize
Group is a food retailer headquartered in Belgium with approximately
2,600 stores in seven countries and more than $26 billion in annual
revenues. The company's Delhaize U.S. division includes supermarket
chains Food Lion, Hannaford and Sweetbay.
Prior to Delhaize, Owens held several general management and senior
financial positions with The Coca-Cola Company and various Coca-Cola
bottlers from 1981 to 2001. Those positions included Region Director of
Coca-Cola HBC, the largest European soft drink company, President and
Chief Executive Officer of Coca-Cola Enterprise France, and Controller
of all Coca-Cola Company-owned bottlers in the U.S.
August 28, 2008 -- Galaxy Nutritional Foods (OTC Bulletin Board: GXYF),
a leading provider of cheese alternatives and organic foods, announced
today a partnership with Holistic Health Counselor and Gourmet Natural
Foods Chef Alex Jamieson, who served as a media spokesperson in a
public relations campaign reaching women's, food and health magazines.
A graduate of the Institute for Integrative Nutrition, Jamieson is a
certified holistic health counselor, accredited by the American
Association of Drugless Practitioners. Working with clients all over
the country, Jamieson provides dietary and lifestyle counseling to help
overcome health concerns ranging from weight loss and lowering
cholesterol to women's issues and detox. She appears prominently in the
blockbuster film "Super Size Me" and authored "The Great American Detox
Diet: 8 Weeks to Weight Loss and Well-Being." Jamieson promoted
Galaxy's cheese alternatives including Veggie, Rice, Veggy, Vegan and
Rice Vegan, to magazine editors through in-person meetings in June
2008. She prepared gourmet sandwiches featuring the products and
participated in question-and-answer sessions about the health benefits
of limiting or eliminating high-fat dairy products.
Following these meetings, Galaxy Nutritional Foods has updated its
website with consumer information and tips provided by Jamieson.
"Partnering with Alex is a perfect fit for our cheese alternative
products," said Michael E. Broll, Galaxy's Chief Executive Officer.
"We're thrilled to offer the media and our consumers more expert
information about the health benefits and superior taste and melt of
our products."
Market Wrap for August 28, 2008 Thursday marked another low volume
session for stocks, but the lack of buying conviction didn't stop the
major indices from trending more than 1% higher to finish near session
highs. The advance was prompted by encouraging economic data,
retreating oil prices, and leadership from the financial sector.
Trading volume on the NYSE failed to break one billion shares for the
ninth straight session. Volume typically exceeds the one billion shares
mark with relative ease. The lack of trading suggests there may be
little conviction behind the stock market's recent moves. Nonetheless,
the session's advance remains pleasing to bullish investors.
Stocks took off early following the announcement of second quarter GDP
data. Growth was revised upward to 3.3% from a previously reported
1.9%. Exports and personal consumption played a key role and suggested
the economy is faring far better than many headlines suggest.
Additionally, trends in the data suggest third quarter GDP will expand
at a similar rate.
Initial jobless claims for the week ending Aug. 23 fell 10,000 to
425,000. Meanwhile, the four-week moving average retreated to 440,250
from 446,250. The numbers reflect soft labor conditions and indicate a
modest decline for August nonfarm payrolls is likely.
Crude futures climbed as much as 2% early on, moving higher on fear
that Hurricane Gustav will disrupt Gulf production. As those fears
subsided and a larger-than-expected build in natural gas inventories
was announced oil dropped as much as 3.4%. It closed more than 2%
lower, near $115.55.
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dealer, market maker, investment banker, investment advisor, analyst or
underwriter. InvestSource, Inc. affiliates, officers, directors and
employees may also have bought, or may buy the shares discussed in this
opinion and may profit in the event of a rise in value. InvestSource,
Inc. will not advise as to when it decides to sell and does not, and
will not, offer any opinion as to when others should buy or sell; each
investor must make that decision based on his or her judgment of the
market Please consult your broker before purchasing or selling any
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http://investsourceinc.com/php/disclaimer.php (disclaimers).
This release may contain statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E the Securities Exchange Act of 1934,
as amended. The words "may," "would," "will," "expect," "estimate,"
"anticipate," "believe," "intend," and similar expressions and
variations thereof are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and
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projected in the forward-looking statements as a result of various
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