Nokia Looks To Sell Headquarters To Raise Cash!!!

Nokia has started a process to sell off its headquarters outside Helsinki as the stricken Finnish mobile phone maker urgently looks for ways to conserve cash. The loss making company is looking to sell and lease back the building that employs 1,800 people in a move that could raise €200m-€300m, according to estimates. The move comes amid intense scrutiny of Nokia’s cash position after it burned through liquidity at a very fast pace around the turn of the year. In the second quarter of this year, its net cash position fell 14 per cent to €4.2bn due entirely to a dividend payment to investors. “We have ample cash resources to do what we need. But to cut costs and conserve cash we are looking at all possible options with no stones being left unturned. One of those is the possibility of selling our headquarters,” Nokia said. Nokia moved out of central Helsinki in 1996 to a striking glass and steel building on the edge of the sea in the neighbouring town of Espoo that it expanded in 2001 to its current size. It pointed to other Finnish companies that had sold and leased back their headquarters in recent years, including Kone, Stora Enso and UPM-Kymmene. Nokia has sent documents out to interested parties but a sale is not imminent. It had earlier said, when it announced its second-quarter results, that it was looking to sell its property holdings around the world. “We are not a real estate company and we would rather invest in our core operations,” it said. But analysts remain concerned about the level of cash burn as the company fights for survival following a series of disappointing product launches in an attempt to compete with Apple’s iPhone and companies using Google’s Android platform. Credit analysts stress that technology companies can go bust with positive cash balances, pointing to Nortel, which had several billions of dollars in cash on its balance sheet when it went bankrupt in 2009. Standard & Poor’s, the credit rating agency, said in August when it downgraded Nokia again that it expected the group to end this year with less than €3bn in net cash. Nokia in return has touted its ability to squeeze cash out of its business, using advanced royalty payments on some of its patents to avoid a worse cash burn in the second quarter. It also has an undrawn credit line of €1.5bn, which is available until March 2016. Analysts have speculated that Nokia will soon have to cut its dividend to protect its remaining cash. Its first debt repayment is for €1.25bn in early 2014. http://www.ft.com/intl/cms/s/0/6166627a-0d56-11e2-99a1-00144feabdc0.html#axzz28GJr

Sisters Of Death- HIV Drugs Served With Dinner by FlowerPower

Very eye opening segment on how far some people must go to survive. They are the people for whom free anti retroviral treatment was designed; HIV+ women do not have the money to access the medicine they need. Yet for a group of HIV+ women in various informal settlements in Nairobi, the ARVs they receive do not profit their health, but they do profit from them. Many unsuspecting Kenyans may be settling down to a drink that they've made, using the very same drugs that could save their lives. Here now is NTV's Jane Ngoiri with a brand new NTV Investigates documentary, on women driven by poverty into a game of chance with their own lives, those of many others. These are the Sisters of Death. http://www.youtube.com/watch?v=xeiie4nusqA

IGBO GIRLS ARE WICKED!!! New Born Twins Found At Refuse Dump In Anambra State

 How wicked can someone be? To allow these young, innocent ones to die. When some people are looking for who to call their own, some people are throwing theirs away. May God forgive the mother.

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Lagos Won’t Allow Other States’ Number Plates – Government

Lagos State Government on Wednesday said it would no longer allow the use of vehicles with number plates from other states of the federation for commercial transportation in the state.



It also advised residents with private vehicles to change to the state’s number plates to reflect the fact that they are living in Lagos.

The Director, Vehicle Inspection Office, Mr, Gbolahan Toriola, said the measure was meant to achieve “sanity, standard, safety and security” as stipulated by the road traffic law.

Toriola spoke at the vehicle inspection safety campaign organised by the Ministry of Transportation in conjunction with the Political and Legislative Bureau for commercial drivers in Ikeja.

He said, “There is nothing wrong in bringing commercial buses from other states. But if you must use it in Lagos, you have to change the colour and re-register it with us so that we have your information in our database.

“This is a standard procedure. As a matter of fact, it you have lived in a state for about three months, you are no longer a visitor and therefore you must change your number plate to reflect the state. It is done in America and other developed nations.

“Of course, this provision did not affect inter-state vehicles carrying passenger from other state. But we don’t expect them to pick or drop passengers at every bus stop. There are dedicated bus stops and parks for inter-state vehicles. If they violate this and we get them, they will face our law.

“You must put waste basket in your buses; there must be first aid box; you must carry extra tyres. These are what our law stipulates.”

The VIO boss who highlighted the provisions of the traffic law, advised them to cooperate with the government to ensure security in the state.

A director in the ministry, Mr. Bola Matanmi, also advised the drivers not to turn themselves to traffic officials, but instead apply to the ministry so that they would be given a Special Marshall status.

He added that the union would be given the privilege to choose the colour of the uniform for drivers and conductors.

Special Adviser to the Governor on Political and Legislative Affairs, Mr. Muslim Folami, said the traffic law, which has 43 sections and four schedules was for the interest of Lagosians. He urged the drivers to submit to the law for sanity and safety.

PICS: Tonto Dike fights fans on twitter for begging her not to do music again!

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Fans response to Tonto's new single








Tonto's response to fans

: Yahoo boy’ Allegedly Runs Mad In Ikeja After Alighting From His Range Rover Car

We are living in strange times indeed. An unnamed young man, lost his senses in the heart of Ikeja yesterday.



The story says that, “the man jumped down from his Range Rover and ran mad.
Within few minutes, people gathered at the scene. He started displaying series of madness, pulled off his clothes, saying different irrelevant things.”
Other sources added that he defecated on himself and chased people around.
The young man is strongly rumoured to be a ‘Yahoo-yahoo boy’ – But that fact has not been ascertained yet, as his case could well be that of spiritual attack.

: Mikel Obi Sets Up Record Label With His Brother "Matured Monet Mind" MMM

Chelsea Midfielder,John Mikel Obi has ventured into the music business with his younger brother Patrick Obi who oversee things.MMM (Matured Money Minds) is the label owned by the Chelsea midfielder and he has signed some artistes already into the label. The acts include; Charass, Kido, Edgar, Splash. Let's hope the midfield maestro kills it in the industry as he does in the EPL  598622_3311204542231_226951287_n_1343133029499_o.jpg (47.44 KB, 604x453 - viewed 6001 times.)  IMG-20120620-00007.jpg (35.88 KB, 640x480 - viewed 5041 times.)