Highlights of Chrysler LLC Plan Submitted to the Senate Committee on Banking, Housing and Urban Affairs and the House Committee on Financial Services

PRNewswire/ -- -- Chairman and CEO Robert Nardelli looks forward to testifying before the
committees later this week.

-- Chrysler will urge the immediate adoption of legislation that will allow domestic automakers to weather the current national economic crisis and continue to invest in industry-leading products, technologies and vehicles of the future.

-- The first question is, what changes has Chrysler made to help itself?

Since Chrysler became an independent company in 2007:
-- We eliminated over 1.2 million units of capacity, or 30 percent;
-- We reduced fixed costs by $2.4 billion and, separated over 32,000
employees - including 5,000 on the Wednesday before Thanksgiving.
And at the same time ...
-- We invested in product improvements - over half a billion dollars
in our first 60 days;
-- We improved our latest JD Power quality scores, and reduced our
warranty claims by 29 percent;
Part of our business model transformation includes alliances and
partnerships - for example - the agreements to produce vehicles
for VW and for Nissan. As a result, through the first six months
of the year, Chrysler met or exceeded our operating plan, ending
the first half with $9.4 billion unrestricted cash.

-- Why does Chrysler need the funding?

We need to address the unprecedented drop in vehicle sales caused by the financial crisis.
U.S. sales are down from a 17 million unit selling rate in early 2007, to an estimated 11 million unit selling rate for the fourth quarter of 2008 - a 38 percent decline. We lost 20 percent of our sales virtually overnight when the financial market crisis forced us out of the consumer lease business. With customers not buying ... with dealers not ordering ... with our plants not producing ... Chrysler's cash inflow has suffered.

-- So how will the bridge loan be used?

Cash will support ongoing operations as we continue to restructure the business, including in the first quarter alone:
-- $8.0 billion in payments to parts suppliers
-- $1.2 billion for other vendors
-- $900 million in wages
-- $500 million in healthcare and legacy costs
-- $500 million in capital expenditures

Without an immediate working capital bridge, Chrysler's liquidity could
fall below the level appropriate to ensure operations in the ordinary
course by the first quarter of 2009.

-- So, who is contributing to saving Chrysler?

First and foremost, Chrysler and its extended enterprise will. That starts with me. I receive a salary of $1 a year. I have no employment contract, no change of control agreement, no "golden parachute," and receive no health care or life insurance benefits from the company. We are committed to negotiate concessions from all of our constituents.

-- The next question - Does Chrysler plan to build cars and trucks that
consumers want to buy, and that support the country's energy security
and environmental goals?

Our product plan features 24 major launches from 2009 through 2012. For the 2009 model year, 73 percent of our products will offer improved fuel economy compared to 2008 models. We plan on launching additional small, fuel-efficient vehicles. ENVI is our breakthrough family of all-electric ... and range - extended electric vehicles - similar to the one parked outside. Chrysler's product plan includes the introduction of the Ram Hybrid and our first electric-drive vehicle in 2010 with three additional models by 2013.

-- Does Chrysler have a viable plan?

With our requested bridge loan - absolutely! I also believe that further partnership, restructuring and consolidation would make the U.S. auto industry even more viable and competitive in the long run. Further opportunities for technology sharing would provide fuel-efficient cars and trucks more cost effectively and faster to market. The three-company alliance that developed the dual-mode hybrid is a good example. As a Country, we should not trade our current dependence on foreign oil for a future dependence on foreign technologies.

-- The final question is, when will Chrysler pay back this loan?

We believe we will be well positioned to begin repayment of the federal loans -- in 2012. I recognize that this is a significant amount of public money. However, we believe this is the least costly alternative considering the depth of the economic crisis and the options we face.

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Gemstone Hotel & Resorts Adds Luckie Marietta District’s Glenn Hotel in Downtown Atlanta to Management Portfolio

Officials of Gemstone Hotels & Resorts, a full-service hotel management and asset management company that specializes in luxury and upscale urban hotels and complex, multi-faceted resorts, today announced that the company has added the 110-room Glenn Hotel, downtown Atlanta’s first boutique hotel, owned by Legacy Property Group, to its management portfolio. It is the third boutique hotel management contract added by the company in less than 60 days.

“We feel confident that Gemstone Hotel & Resorts is the perfect fit for the Glenn Hotel, with their overwhelming experience in the luxury hotel market,” said David Marvin, founder and president of Legacy Property Group. “Their creative strategy for managing the big picture combined with proven methods for driving revenue will make the Glenn Hotel a boutique hotel of choice where guests experience the highest levels of service.”

This sophisticated boutique, housed in a converted historic former office building, also marks Gemstone’s expansion into Georgia and the southeastern United States. The company’s continued growth reflects its proven ability to generate optimum results in all economic climates and a growing demand for Gemstone’s specialized services.

“We have experienced similar growth during the last two down cycles,” said Thomas Prins, a principal of Gemstone. “During times like these, hotel owners shift to the top operators to protect their investments and optimize returns.

“There are not many boutique hotel operators like Gemstone who can provide the full range of services, from concepting to turn-around,” he noted. “Our expertise in this niche market allows us to truly hone in on creating the right experience for independent high-end hotels and resorts. We look forward to working with this extraordinary property and a knowledgeable owner, Legacy Property Group, who seeks to provide a great guest experience for both the business and leisure traveler visiting Atlanta.”

Located in the heart of the Luckie Marietta District, the Glenn Hotel is a contemporary, comfortable, 21st century evolution of southern charm. The recently renovated property features chic décor with a classic style. Each room is outfitted with plasma televisions, European-style bedding, pillow-top mattresses, rain-flowing shower head, designer H2O+ bathroom amenities, and over-sized desks with Herman Miller Aeron chairs.

The property also features the Maxim Prime Steakhouse—the prototype for Maxim Magazine’s and world-renowned restaurateur Jeffrey Chodorow’s contemporary steakhouse concept. The restaurant offers superior service and exceptional fare in a distinct, sophisticated blend of contemporary design and comfort. .The candlelit Rooftop Bar features unparalleled views of downtown Atlanta, and the Lobby Bar offers an intimate setting for mingling and relaxing.

“This is a magnificent property and right in our strike zone—high end boutique hotels with extraordinary food and beverage,” said Jeff McIntyre, one of Gemstone’s principals. “Our goal for this asset is to introduce a unique guest experience, enhance and focus the marketing and build on the hotel’s already great foundation.”

About Gemstone Hotels & Resorts

Headquartered in Park City, Utah, with an office in Stamford, Conn., Gemstone Hotels & Resorts is a full-service management and asset management company that specializes in luxury and upscale urban hotels and complex resorts. The company is engaged in resort and unique hotel marketing and management and asset management for a variety of major hotel real estate investors and owners. Gemstone currently manages or asset manages more than 20 projects. Additional information about the company may be found at www.gemstoneresorts.com.

About Legacy Property Group

Legacy Property Group is a real estate development firm that responds to unique market opportunities while enhancing the built environment. Founded in 1994, the firm was an early believer in downtown Atlanta’s resurgence. Fluency across multiple real estate uses, commitment to quality, and the ability to work with partners and local governments have enabled the company to define and develop innovative projects from $10 million to $100 million. Legacy Property Group has been recognized for development excellence by the Massachusetts Institute of Technology, Urban Land Institute, Atlanta Regional Commission, Atlanta Urban Design Commission, and the Georgia Trust for Historic Preservation. For more information on Legacy Property Group, please visit www.legacyproperty.com/

About Luckie Marietta District

At the heart of downtown Atlanta’s largest visitor and convention market, Luckie Marietta District is Atlanta’s true city experience – the heart of leisure and entertainment in town. The district has sprung from the streets to revitalize and connect in-town urban experience with easy, accessible entertainment, hotel and dining offerings to fit all tastes and within walking distance. Eminently accessible to metropolitan residents and travelers alike, the Luckie Marietta District is the city center Atlantans have long deserved. Luckie Marietta District offers premier dining offerings including Maxim Prime, Ruth’s Chris Steakhouse, McCormick & Schmick’s, Thrive, STATS, Rise Sushi Lounge, The Wine Loft, Legal Sea Foods, Johnny Rockets, Carvel Ice Cream/Cinnabon, Peasant Bistro, CNN Food Court and Park Avenue Deli. Hotel accommodations include: Embassy Suites, The Glenn Hotel, the Omni Hotel and the Hilton Garden Inn featuring downtown’s first commercial heliport. Entertainment and retail offerings include: Cigar Times, Georgia Aquarium, Imagine It! Children’s Museum, Philips Arena, CNN Center, Inside CNN Studio & Tour, Centennial Olympic Park, and the National Museum of Patriotism. Each member is actively involved in making the district a unique, safe and inviting in-town experience. For more information visit www.luckiemariettadistrict.com.
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Ford Motor Company Submits Business Plan to Congress; Profit Target, Electric Car Strategy Among New Details

/PRNewswire-FirstCall/ -- Ford Motor Company (NYSE:F) this morning submitted to Congress its comprehensive business plan, which details the company's plan to return to profitability and outlines a request for potential access to a temporary bridge loan in case the current economic crisis worsens or there is a bankruptcy of a major competitor.

In the plan, Ford said the transformation of its North American automotive business will continue to accelerate through aggressive restructuring actions and the introduction of more high-quality, safe and fuel-efficient vehicles -- including a broader range of hybrid-electric vehicles and the introduction of advanced plug-in hybrids and full electric vehicles.

Ford is asking for access to up to $9 billion in bridge financing, but reiterated that it hopes to complete its transformation without accessing the loan should Congress agree to make the funds available.

Despite the serious global economic downturn, Ford said it does not anticipate a liquidity crisis in 2009 -- barring a bankruptcy by one of its domestic competitors or a more severe economic downturn that would further cripple automotive sales and create additional cash challenges.

"For Ford, government loans would serve as a critical backstop or safeguard against worsening conditions, as we drive transformational change in our company," said Ford President and CEO Alan Mulally, who will testify before Congress this week.

In the plan submitted to Congress, Ford reiterated that its One Ford transformation plan remains fully in place, anchored by four key priorities:

-- Aggressively restructure to operate profitably at the current demand and changing model mix;

-- Accelerate development of new products our customers want and value;
-- Finance our plan and improve our balance sheet; and
-- Work together effectively as one team, leveraging our global assets.

"Ford is committed to building a sustainable future for the benefit of all Americans," Mulally said. "We believe Ford is on the right path to achieve this vision.

"We appreciate the valid concerns raised by Congress about the future viability of the industry," he added. "We hope that our submission today helps instill confidence in Ford's commitment to change, including our accountability and shared sacrifice during this difficult economic period."

Ford's submission to Congress included new details about Ford's future plans and forecasts, including:

-- Based on current business planning assumptions -- including U.S. industry sales for 2009, 2010 and 2011 of 12.5 million units, 14.5 million units and 15.5 million units, respectively -- Ford expects both its overall and its North American automotive business pre-tax results to be breakeven or profitable in 2011, excluding any special items.

-- As part of a continuing focus on building the Ford brand, the company said it is exploring strategic options for Volvo Car Corporation, including the possible sale of the Sweden-based premium automaker. The strategic review is in line with a broad range of actions Ford is taking to strengthen its balance sheet and ensure it has the resources to fund its plan. Since 2007, Ford has sold Aston Martin, Jaguar, Land Rover and the majority of its stake in Mazda.

-- Ford's plan calls for an investment of approximately $14 billion in the U.S. on advanced technologies and products to improve fuel efficiency during the next seven years.

-- Half of the Ford, Lincoln and Mercury light-duty nameplates by 2010 will qualify as "Advanced Technology Vehicles" under the U.S. Energy Independence and Security Act -- increasing to 75 percent in 2011 and more than 90 percent in 2014. Ford said it has included these projects in its application to the Department of Energy for loans under that Act and hopes to receive $5 billion in direct loans by 2011 to support Ford's investment in advanced technologies and products.

-- From its largest light duty trucks to its smallest cars, Ford will improve the fuel economy of its fleet an average of 14 percent for 2009 models, 26 percent for 2012 models and 36 percent for 2015 models -- compared with the fuel economy of its 2005 fleet. Overall, Ford expects to achieve cumulative gasoline fuel savings from advanced technology vehicles of 16 billion gallons from 2005 to 2015.

-- Next month at the North American International Auto Show in Detroit, Ford will discuss in detail the company's accelerated vehicle electrification plan, which includes bringing to market by 2012 a family of hybrids, plug-in hybrids and battery electric vehicles. The work will include partnering with battery and powertrain systems suppliers to deliver a full battery electric vehicle (BEV) in a van-type vehicle for commercial fleet use in 2010 and a BEV sedan in 2011. Ford said it will develop these vehicles in a manner that enables it to reduce costs and ultimately make BEVs more affordable for consumers.

-- The 2007 UAW-Ford negotiations resulted in significant progress being made in reducing the company's total labor cost. Given the present economic crisis and its impact upon the automotive industry, however, Ford is presently engaged in discussions with the UAW with the objective to further reduce its cost structure and eliminate the remaining labor cost gap that exists between Ford and the transplants.

-- As previously was announced, Ford plans two additional plant closures this quarter and four additional plant closures between 2009 and 2011. The company also has announced its intent to close or sell what will be four remaining ACH plants. The company said it will continue to aggressively match manufacturing capacity to real demand.

-- Ford will continue to work to reduce its dealer and supplier base to increase efficiency and promote mutual profitability. By year end, Ford estimates it will have 3,790 U.S. dealers, a reduction of 606 dealers overall -- or 14 percent from year-end 2005 -- including a reduction of 16 percent in large markets. In addition, Ford has been able to reduce the number of production suppliers eligible for major sourcing from 3,400 in 2004 to approximately 1,600 today, a reduction of 53 percent. Ford eventually plans to further reduce the number of suppliers eligible for major sourcing to 750.

-- Ford also confirmed today that it has decided to sell its five corporate aircraft. In addition, Ford CEO Mulally announced that, should Ford need to access funds from a potential government bridge loan, he would work for a salary of $1 a year -- as a sign of his confidence in the company's transformation plan and future.

Ford also reiterated that it is canceling all bonuses to be paid in 2009 for all management employees worldwide and foregoing bonuses for all employees in North America. The company also will not pay merit increases for North America salaried employees in 2009.

Ford said it is moving fully ahead with plans it announced this summer to leverage the company's global product strengths and bring more smaller, fuel-efficient vehicles to the U.S. The plan includes delivering best-in- class or among the best fuel economy with every new vehicle introduced. Ford also is introducing industry-leading, fuel-saving EcoBoost engines and doubling the number and volume of hybrid vehicles.

This product acceleration will result in a balanced product portfolio with a complete family of small, medium and large cars, utilities and trucks. Ford said it is increasing its investment in cars and crossovers from approximately 60 percent in 2007 to 80 percent of its total product investment in 2010.

"Ford has a comprehensive transformation plan that will ensure our future viability -- as evidenced by our profitability in the first quarter of 2008," Mulally said. "While we clearly still have much more work to do, I am more convinced than ever that we have the right plan that will create a viable Ford going forward and position us for profitable growth."

To read Ford's submission to the U.S. Congress and for more information about Ford's plan, please visit www.thefordstory.com .

Ford Motor Company, a global automotive industry leader based in Dearborn, Michigan, United States, manufactures or distributes automobiles in 200 markets across six continents. With about 224,000 employees and about 90 plants worldwide, the company's core and affiliated automotive brands include Ford, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com .

Safe Harbor/Risk Factors

Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

-- Continued decline in market share;

-- Continued or increased price competition resulting from industry overcapacity, currency fluctuations or other factors;

-- A further increase in or acceleration of the market shift away from sales of trucks, SUVs, or other more profitable vehicles, particularly in the United States;

-- Further significant decline in industry sales, resulting from slowing economic growth, geo-political events, or other factors;

-- Lower-than-anticipated market acceptance of new or existing products;
-- Further increases in the price for, or reduced availability of, fuel;
-- Currency or commodity price fluctuations;

-- Adverse effects from the bankruptcy or insolvency of, change in ownership or control of, or alliances entered into by a major competitor;

-- Economic distress of suppliers of the type that has in the past and may in the future require us to provide financial support or take other measures to ensure supplies of components or materials;

-- Labor or other constraints on our ability to restructure our business;

-- Work stoppages at Ford or supplier facilities or other interruptions of supplies;

-- Single-source supply of components or materials;

-- Substantial pension and postretirement health care and life insurance liabilities impairing our liquidity or financial condition;

-- Inability to implement the Retiree Health Care Settlement Agreement to fund and discharge UAW hourly retiree health care obligations;

-- Worse-than-assumed economic and demographic experience for our postretirement benefit plans (e.g., discount rates, investment returns, and health care cost trends);

-- The discovery of defects in vehicles resulting in delays in new model launches, recall campaigns, or increased warranty costs;

-- Increased safety, emissions, fuel economy, or other regulation resulting in higher costs, cash expenditures, and/or sales restrictions;

-- Unusual or significant litigation or governmental investigations arising out of alleged defects in our products or otherwise;

-- A change in our requirements for parts or materials where we have entered into long-term supply arrangements that commit us to purchase minimum or fixed quantities of certain parts or materials, or to pay a minimum amount to the seller ("take-or-pay" contracts);

-- Adverse effects on our results from a decrease in or cessation of government incentives;

-- Adverse effects on our operations resulting from certain geo-political or other events;

-- Substantial negative Automotive operating-related cash flows for the near- to medium-term affecting our ability to meet our obligations, invest in our business, or refinance our debt;

-- Substantial levels of Automotive indebtedness adversely affecting our financial condition or preventing us from fulfilling our debt obligations (which may grow because we are able to incur substantially more debt, including additional secured debt);

-- Failure of financial institutions to fulfill commitments under committed credit facilities;

-- Inability of Ford Credit to obtain an industrial bank charter or similar banking status;

-- Inability of Ford Credit to access debt, securitization or derivative markets around the world at competitive rates or in sufficient amounts due to additional credit rating downgrades, market volatility, market disruption, or otherwise;

-- A prolonged disruption of the debt and securitization markets;
-- Higher-than-expected credit losses;

-- Increased competition from banks or other financial institutions seeking to increase their share of financing Ford vehicles;

-- Changes in interest rates;

-- Collection and servicing problems related to finance receivables and net investment in operating leases;

-- Lower-than-anticipated residual values or higher-than-expected return volumes for leased vehicles;

-- New or increased credit, consumer or data protection or other regulations resulting in higher costs and/or additional financing restrictions; and

-- Inability to implement our plans to further reduce structural costs and increase liquidity.

We cannot be certain that any expectation, forecast or assumption made by management in preparing forward-looking statements will prove accurate, or that any projection will be realized. It is to be expected that there may be differences between projected and actual results. Our forward-looking statements speak only as of the date of their initial issuance, and we do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise. For additional discussion of these risks, see "Item 1A. Risk Factors" in our 2007 Form 10-K Report and our third quarter 2008 Form 10-Q Report.

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Marketing Your Business

Recent survey information shows business now spends about 47% of the marketing budget online. No longer is the question "Should I advertise on the net or print paper?" Now, the question is which online site provides the most leads.

The biggest advantage to internet advertising is the higher quality of leads.

The trend to move more toward internet advertising will continue to increase in 2009. While traditional print ads still have their place, their presence will most likely decrease over time.

So, what are you waiting for? Contact the Fayette Front Page today to see how we can assist you in making your 2009 goals.

Click to see the survey.

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Jacobs Receives Joint Equipment Assessment Program (JEAP) Contract From the U.S. Marine Corps

/PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it received a contract to provide Joint Equipment Assessment Program (JEAP) support to the Department of Defense and the United States Marine Corps. Work will be performed primarily in Albany, Ga. and at several other locations in the U.S. and worldwide.

Awarded under the General Services Administration (GSA) with one base year and four option years, this contract has a potential value of $89 million through April 2013. Jacobs has been the prime contractor for JEAP support services to the Marine Corps since 2004.

Under this contract, Jacobs will support Chemical, Biological, Radiological, Nuclear Defense (CBRND) equipment assessment and calibration; individual and collective protection; collection, assessment, storage, and disposal of excess CBRND Individual Protective Equipment; worldwide storage and issue facilities for the Marine Corps Consolidated Storage Program (CSP); and technical and program management support throughout the U.S. and abroad. Additionally, the contract encompasses logistics support activities for the Marine Corps Logistics Command Project Office for the Mine-Resistant Ambush-Protected vehicle system.

In making the announcement, Jacobs President and CEO Craig Martin stated, "We are always pleased and honored to have the opportunity to support the men and women of our military -- in this case, ensuring they have the resources they need to accomplish their missions. This contract enables us to continue this important relationship with our Marine Corps customer."

Jacobs, with over 57,000 employees and revenues exceeding $11.0 billion, provides technical, professional, and construction services globally.

Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2007 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.

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Jekyll Island Authority Approves Private Partnering Agreement with Linger Longer Communities

/PRNewswire-USNewswire/ -- In a called board meeting Monday, the Jekyll Island Authority approved a Private Partnering Agreement with Linger Longer Communities, establishing a public-private partnership intended to bring about revitalization and long-term sustainability of Jekyll Island. Linger Longer was selected by the Jekyll Island Authority in September 2007 as the revitalization partner, and has since worked with the Authority on a final Beach Village plan and a legal contract that establishes a long-term partnership.

The Beach Village plan, approved by the Jekyll Island Authority at its October meeting, creates a new public gathering place on Jekyll Island. The redevelopment project reconfigures the existing shopping district into a beachside village setting adjacent to a renovated and expanded convention center, two new hotels and a new vacation club.

Key features of the Beach Village include a large public park with additional green space and improved bicycle and pedestrian access along the entire beachfront, connecting a new plaza to public parking and enhanced beach access with improved public facilities. All beach access will remain open to the public. The final Beach Village plan is a scaled-down version of Linger Longer Communities' original concept, but one that addresses the desire of the public for limited development on Jekyll Island.

"We are pleased to get this partnering agreement approved," stated Bob Krueger, Chairman of the Jekyll Island Authority. "I appreciate the dedicated efforts of our counsel with the Attorney General's office, the support of the Governor and the Legislative Oversight Committee, and especially the hard work of the negotiating teams on both sides. We will now move forward as a unified team and deliver to the citizens of Georgia a revitalized Jekyll Island that we all will be proud of."

The Beach Village revitalization agreement incorporates elements found in typical public-private re-development partnerships including private partner financial contributions, public bond financing, and appropriate ground leases. Over the next 25 years, the Jekyll Island Authority expects to generate in excess of $40 million in direct revenue alone from the Beach Village revitalization project. Additionally, the Authority will also receive incremental hotel/motel taxes, convention center revenues, and parking fees from increased island visitation.

The public portion of the Beach Village project will be supported by $25 million of public bonds. The Authority will repay the bonds directly from revenues generated by the new revitalization projects.

"Getting this agreement done in this economic climate is a great achievement, and I am proud of the hard work and commitment of this Board," commented Steve Croy, Vice Chairman of the Jekyll Island Authority. "The Beach Village is vital to our revitalization efforts, which just took a mighty step forward."

Linger Longer Communities, a Georgia company based in Greensboro, Georgia, is known for quality planned developments on Lake Oconee in Greene County east of Atlanta, and in North Georgia. Linger Longer Communities has set themselves apart in their approach, creating communities which respect their natural surroundings.

"We are excited to get this partnership agreement accomplished and proud to now be a partner with the Jekyll Island Authority," states Mercer Reynolds, Chairman and CEO of Linger Longer Communities. "We look forward to assisting the JIA in achieving its vision of revitalizing Jekyll Island and making it a recreational and learning destination that all Georgians can enjoy for generations to come."

Linger Longer Communities brings to the partnership substantial experience in the development and operation of large-scale recreational facilities - as evidenced in its creation and management of such places as Reynolds Plantation, Reynolds Landing and Lake Oconee Village in Greene County, Georgia. Many of Linger Longer's projects consistently win national and international awards for the quality of their operations and the recreational experiences of their guests.

The revitalization of Jekyll Island seeks to establish the right balance of redevelopment with protection of the natural environment. All new building construction on the island is taking place on land that is already developed, and must comply with Jekyll Island's design guidelines and beach lighting ordinance in addition to existing environmental laws including the Georgia Shoreline Protection Act. State law also mandates that 65% of Jekyll Island must remain in a natural state. These important policies ensure that development on Jekyll Island will be limited and have minimal impact on sea turtle nesting habitat and other sensitive natural areas.

"Linger Longer, like our other hotel partners here on Jekyll Island truly 'gets it'," stated Jones Hooks, Jekyll Island's Executive Director. "Successful development must embrace limitations and protection, which is why people choose to come here."

Jekyll Island now boasts five revitalization projects at various stages. A new Hampton Inn & Suites is already under construction at the former site of the Holiday Inn and is expected to open late summer 2009. Last week, a new inn and cottage development was announced for the former site of the Ramada Inn, with an anticipated completion date of April 2011. The new Beach Village is also expected to be completed in 2011.

Jekyll Island currently has seven hotels open and operating, including the signature Jekyll Island Club Hotel. Other hotels along the beach include the Beachview Club, the Days Inn & Suites, Oceanside Inn & Suites, Quality Inn, Oceanfront Clarion Resort and Villas By The Sea. Cottages are also available for vacation rental; more information is available at jekyllisland.com. Information regarding all Jekyll Island revitalization projects and policies can be found at www.jekyllisland.com/news.

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Ford Motor Company Announces it Will Re-Evaluate Strategic Options for Volvo Car Corporation

/PRNewswire-FirstCall/ -- Ford Motor Company (NYSE:F) announced today it will re-evaluate strategic options for Volvo Car Corporation, including the possible sale of the Sweden-based premium automaker.

Ford said the decision to re-evaluate strategic options for Volvo comes in response to the significant decline in the global auto industry particularly in the past three months and the severe economic instability worldwide. The strategic review of Volvo is in line with a broad range of actions Ford is taking to strengthen its balance sheet and ensure it has the resources to implement its product-led transformation plan.

"Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo as we implement our ONE Ford plan," said Ford President and CEO Alan Mulally. "Volvo is a strong global brand with a proud heritage of safety and environmental responsibility and has launched an aggressive plan to right-size its operations and improve its financial results. As we conduct this review, we are committed to making the best decision for both Ford and Volvo going forward."

Ford said the review likely will take several months to complete. In the meantime, Ford will continue working closely with Volvo as it implements its restructuring plan under CEO Stephen Odell, who was appointed to lead Volvo earlier this year.

At the same time, Ford and Volvo will continue to put in place processes that allow Volvo to operate on a more stand-alone basis in the absence of the Premier Automotive Group structure, an effort which began in November 2007 following a previous review by Ford of strategic options for Volvo.

"Outstanding safety, an increased focus on environmentally friendly vehicles and contemporary Scandinavian design will continue to be the foundation upon which we will build a strong Volvo business for the future." Odell said. "We intend to build upon our strong brand heritage and to appeal to our global customers with vehicles like the new XC60 -- the safest car Volvo has ever built. Volvo also will introduce seven low-emission models in 2009, giving us the best environmental product range in the premium segment.

"We have a strong brand presence in Europe, North America and the Asia Pacific region, and are growing in key markets such as China and Russia, where we are the leading premium brand."

Ford Motor Company, a global automotive industry leader based in Dearborn, Michigan, United States, manufactures or distributes automobiles in 200 markets across six continents. With about 224,000 employees and about 90 plants worldwide, the company's core and affiliated automotive brands include Ford, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com .

Safe Harbor

Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts and assumptions by management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated. We cannot be certain that any expectation, forecast or assumption made by management in preparing these forward-looking statements will prove accurate, or that any projection will be realized. More detailed information about these and other factors that could affect future results is contained in our filings with the Securities and Exchange Commission. Our forward-looking statements speak only as of the date of their initial issuance, and we do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

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PureRay Corp. to Extend Filing of Form 15

/PRNewswire-FirstCall/ -- PureRay Corporation (OTC Bulletin Board: PURY), a lighting-technology company specializing in solar-powered products, announces today it will extend the date for filing a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission.

Originally set for November 28, 2008, the filing date for the Form 15 to affect the deregistration of PureRay's common stock is being extended to December 12, 2008, to give PureRay's Board of Directors and management time to consider strategic alternatives to deregistration that they believe may be in the best interests of PureRay and its shareholders. PureRay may determine to implement any such strategic alternatives and, as a result, not file the Form 15 to affect the deregistration of its common stock. However, PureRay has not yet determined to implement any such strategic alternatives to deregistration. The determination to implement any such strategic alternatives to deregistration or not file the Form 15 to affect the deregistration of PureRay's common stock will be made by PureRay's Board of Directors.

"We want to weigh all options that are available to us," said Mr. Jefrey Wallace, PureRay Corporation's President and CEO. "PureRay shareholders deserve no less than certainty from its Board of Directors that the company is moving in the right direction with regard to its being a public company."

Upon filing a Form 15, PureRay Corporation's obligations to file certain reports with the Securities and Exchange Commission, including Forms 10-K, 10-Q and 8-K, would immediately be suspended; deregistration of the company's common stock would become effective ninety (90) days after the filing with the SEC. Upon the effectiveness of the deregistration of PureRay Corporation's common stock, it would no longer be a public reporting company, and its securities would cease trading on the OTC Bulletin Board.

PureRay makes a self-contained, solar-powered LED lighting system for use in markets without access to electrical-power grids.

Based in Atlanta, PureRay is committed to improving the quality of light and the quality of life globally through safe, energy-efficient lighting. PureRay focuses on making solar-based charging and lighting systems practical and cost-effective for developing-world countries in Africa, South Asia, the Caribbean and Latin America, as well as for domestic markets. Its proprietary lighting system is patent-pending.

This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements.

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Bayer Healthcare to Pay U.S. $97.5 Million to Settle Allegations of Paying Kickbacks to Diabetic Suppliers

/PRNewswire-USNewswire/ -- Bayer HealthCare LLC (Bayer) has agreed to pay the United States $97.5 million plus interest to settle allegations that it paid kickbacks to a number of diabetic suppliers and caused those suppliers to submit false claims to Medicare, the Justice Department announced today. The settlement resolves allegations that Bayer engaged in a cash-for-patient scheme through which the company paid 11 diabetic suppliers to convert their patients to Bayer's products from supplies manufactured by its competitors.

The Tarrytown, N.Y.-based company manufactures diabetic self-testing supplies, including glucose monitors and testing strips. Bayer contracts with direct-to-patient diabetic suppliers who market and sell these products to beneficiaries and submit claims for reimbursement to Medicare.

Between 1998 and 2002, Bayer allegedly paid Liberty Medical Supply Inc., one of the largest direct-to-patient diabetic suppliers, approximately $2.5 million to convert its patients to Bayer supplies. The alleged kickbacks were based on the number of patients that Liberty successfully converted to Bayer supplies and were disguised as payments for advertising. In addition, Bayer allegedly paid kickbacks of approximately $375,000 to 10 other diabetic suppliers to convert patients to Bayer supplies.

"If medical device manufacturers want to serve Medicare beneficiaries they must follow the law," said Gregory G. Katsas, Assistant Attorney General for the Civil Division. "Paying healthcare suppliers to place a particular brand of device with Medicare beneficiaries violates the law and will not be tolerated."

The settlement resolves claims submitted to Medicare by the 11 suppliers for Bayer supplies from 1998 through 2007. Under the terms of the settlement, Bayer agreed to enter into a corporate integrity agreement with the Office of Inspector General for the Department of Health and Human Services (HHS).

"Device manufacturers who pay illegal kickbacks should expect to be held accountable," said Daniel R. Levinson, HHS Inspector General. "OIG's compliance agreement with Bayer includes specific requirements for the board of directors and management that will enable OIG to closely monitor company practices affecting Federal health care programs and beneficiaries."

The investigation was referred to the Justice Department's Civil Division, Commercial Litigation Branch, by the FBI and the Criminal Division of the U.S. Attorney's Office for the Southern District of Florida, in West Palm Beach, Fla.

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Industry veteran named director of the Georgia Centers of Innovation-Manufacturing

Note: still playing catch-up on some important / worthy business announcements we've received.

Georgia’s Centers of Innovation program recently named John Zegers director of the Centers of Innovation-Manufacturing, with offices at Lanier Technical College in Oakwood. Zegers’ expertise in the industry will enhance the Center’s role as a critical resource for manufacturing in Georgia.

“John Zegers is well qualified to serve as an advocate for our state’s manufacturing industry,” said Ken Stewart, commissioner of the Georgia Department of Economic Development (GDEcD), which houses the Centers of Innovation program. “The Centers of Innovation-Manufacturing is a key component of our strategy to reach out to Georgia’s core industries and give them the tools to succeed.”

Zegers joins the center as an 18-year veteran in manufacturing, sales and consulting. He was formerly a statewide project manager with GDEcD, a manufacturer’s representative and served as president of a manufacturer’s representative agency. Zegers’ career has touched on many aspects of manufacturing, including issues that involve working in a global marketplace.

Zegers received his Bachelor of Science degree from Florida State University while working summers in a steel coating, roll forming and assembly manufacturing plant as a production and quality control manager. He is a member of the Georgia Economic Developers Association.
“John has the wide-ranging industry experience to make him an effective leader of the Centers of Innovation-Manufacturing for the state of Georgia,” said Sterling Wharton, director of the Georgia Centers of Innovation. “He will help increase the center’s visibility and connect manufacturers with the resources they need to grow.”

The Centers of Innovation-Manufacturing is hosted by Lanier Technical College in Oakwood and provides statewide strategic industry expertise, accelerating growth among Georgia’s manufacturing sector. For more information about the center, please visit manufacturing.georgiainnovation.org.

The Centers of Innovation (COI) program focuses on six areas of strategic industry growth and expansion: agriculture, aerospace, energy, life sciences, logistics and manufacturing, located respectively in Tifton, Eastman, Atlanta, Augusta, Savannah and Oakwood. COI's services include access to deep industry expertise and university-level research; product commercialization, and client connections to key state resources including potential investor networks. For more information, visit www.georgiainnovation.org.

The Georgia Department of Economic Development (GDEcD) is the state's sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry and small businesses, locating new markets for Georgia products, attracting tourists to Georgia, and promoting the state as a location for film, video and music projects, as well as planning and mobilizing state resources for economic development.