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InvestSource Inc.: ZAP Receives Visits from Key Execs of Al Yousuf
Group
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:18072008
Stocks in the news: ZAP (OTC BB:ZAAP.OB), Navistar International
Corporation (NYSE: NAV), Monaco Coach Corporation (MNC), Lucas Energy,
Inc. (AMEX:LEI)
July 17, 2008 - Dubai's Al Yousuf Group has sent two key executives to
electric vehicle pioneer ZAP (OTC BB:ZAAP.OB) this summer to explore
synergies across their portfolio of transportation companies in which
the Al Yousuf Group has invested.
Mr. Ashraf Saeed, the Chief Operating Officer for the Al Yousuf Group,
is spending approximately a month at ZAP to explore more ways that Al
Yousuf can support ZAP's ambitions in alternative transportation. Mr.
Saeed has been cultivating the relationship with ZAP since contact was
first made with the Al Yousuf Group.
"ZAP is leading the way by delivering electric vehicles today to meet
increased demand and we are excited to bring the experience of our
other technology investments into ZAP," said Mr. Saeed.
Mr. Ibrahim Abdue Redha Al Asmawi, the Business Development officer for
the Al Yousuf Group, will also be visiting ZAP.
The Al Yousuf Group has taken an investment interest in ZAP's products
for distribution in The Middle East and in helping the development the
Company. Mr. Eqbal Al Yousuf was recently appointed Chairman of ZAP's
Board of Directors and attended his first board meeting as Chairman in
June at ZAP's Santa Rosa headquarters. He also purchased a 50 percent
stake in ZAP's Recharge-It-All battery line.
The Al Yousuf Group has invested in other environmentally oriented
companies, including companies developing electric transportation
technologies. In November, Al Yousuf invested in battery developer
Altair Nano. In December, Al Yousuf invested in electric truck
developer Phoenix Motorcars.
The Al Yousuf Group is one of the largest trading groups in The Middle
East. Over the past 55 years, the Al Yousuf Group has grown into a
leading business conglomerate in the Gulf Region with operations
ranging from Motor Vehicles, Boat Manufacturing, Auto Rental, Real
Estate Development, Home Electrical Appliances, Computer Operating
Systems, Electronics, Transportation and more.
July 17, 2008 - Visitors to Alaska's Denali National Park and Preserve,
one of the largest protected intact ecosystems in the world, will now
have the opportunity to explore the park with the aid of an
environmentally friendly vehicle -- a fuel-efficient and
emissions-reducing hybrid bus. IC Bus, North America's largest school
bus and commercial bus manufacturer, is delivering the Park's first
hybrid bus on July 17.
Assigned for use as part of the park's shuttle service which extends 90
miles into the wilderness, the hybrid bus will transport visitors along
a 45- mile route through August 30, during the Park's peak season,
enhancing visitors' experience. A quieter engine will improve wildlife
viewing as visitors see and hear nature in a way the other buses do not
allow.
Doyon/ARAMARK currently has 110 buses in its Denali National Park and
Preserve fleet which drive an average of 1.2 million miles per year. As
more of the diesel-engine buses are replaced by hybrids, the reduced
impact on the environment and fuel savings become that much greater.
The hybrid system, developed by Enova Systems, couples a diesel engine
with an 80-kilowatt powertrain, incorporating a transmission, batteries
and an electric motor. The system recovers kinetic energy during
regenerative braking, charging the batteries while the bus is slowing
down. This provides additional power for acceleration, making the
hybrid buses ideal because of the frequent starting and stopping of the
bus.
IC Bus, LLC of Warrenville, Ill., is a wholly owned subsidiary of
Navistar International Corporation (NYSE: NAV).
July 17, 2008 - Monaco Coach Corporation (MNC) announced today that it
will relocate all service and production operations in Wakarusa,
Elkhart and Nappanee, Indiana and permanently cease operations at those
locations. The shutdown is presently scheduled for approximately
September 17, 2008.
Production of the majority of motorized units currently manufactured in
these locations will be relocated to Monaco's Coburg, Oregon
operations. Production of two of the models will be relocated to the
Warsaw, Indiana manufacturing location. The towable production line
will also be integrated into Monaco's Warsaw location.
The Class A market is in its fourth year of declining shipments. The
Recreation Vehicle Industry Association reported 32,900 Class A
shipments in 2007, down 29% from 46,300 shipments reported in 2004. As
a result of record high fuel prices, declining consumer confidence and
challenging consumer credit markets, Class A shipments have continued
to weaken in 2008, down an additional 40% from 2007.
Approximately 1,400 hourly and salaried employees will be impacted by
the move, or 33% of the Company's total workforce. Monaco Coach
Corporation will still maintain a significant presence in the Northern
Indiana area with approximately 700 employees at its Warsaw, Milford
and Goshen operations.
July 17, 2008 - Lucas Energy, Inc. (AMEX:LEI), a U.S. based independent
oil and gas company, today announced an update on Bonanza Oil and Gas,
Inc.'s (OTC BB:BGOI.OB) Apclark Project, in which Lucas is a minority
shareholder, located in Borden County, TX.
Bonanza Oil and Gas, Inc., an independent oil and gas company, reported
that its Everett #7 well, the second in a series of 14 horizontal and
53 vertical wells planned for the Apclark project, reached final
horizontal TD, and is currently being rigged up for completion. The
work-over rig was moved from the Jackson #1 well on July 3rd, and is
preparing for the fracture stimulus in the Jo Mill Spraberry Zone on
July 17 and 18.
Market Wrap for July 17, 2008: Stocks had another strong finish
Thursday as all three of the major indices finished more than 1%
higher. The Dow Jones Industrial Average had the best performance,
finishing near its high with a 1.9% gain.
Dow components JPMorgan Chase (JPM 40.80, +4.86) and United
Technologies (UTX 64.70, -3.59) both reported better-than-expected
earnings per share results. Coca-Cola (KO 50.34, -2.00) reported strong
results, but its shares were shunned.
Shares of JPM jumped to their highest level in roughly one month as
many investors returned to the financial sector. Financial stocks
finished the session 6.5% higher, marking the second consecutive
session it outperformed the other sectors and, again, helped the
broader market extend yesterday's gains.
Positive economic data lent support to Thursday's advance. Housing
starts for June increased 9.1% to an annualized rate of 1.066 million
units, which is above the 960,000 consensus estimate.
Investors found further encouragement when jobless claims for the week
ending July 12 indicated an increase of 18,000 to 366,000 since the
total was below the consensus expectation for 380,000 claims. The level
of initial claims continues to reflect a steady trend. Importantly,
though, it also refutes the idea that there has been a material
deterioration in the job market.
Falling crude prices helped the mood among investors, too. Crude shed
roughly $5 to finish below $130 per barrel, its lowest level in more
than one month. DJ30 +207.38 NASDAQ +27.45 SP500 +14.96 NASDAQ
Adv/Vol/Dec 1929/2.61 bln/906 NYSE Adv/Vol/Dec 2360/1.96 bln/833
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