Tag Archives: debt

Miller Energy signs $100M debt deal

Miller Energy Resources shares are down more than 5 percent in trading today, following the
Miller_Energy02.jpgKnoxville company’s announcement late last week of a new $100 million credit deal with Apollo Investment Corp.

The five-year agreement is secured “by substantially all of the company’s and its subsidiaries’ assets,” Miller said in a news release.

The deal includes an initial $55 million borrowing base. Miller said it will use the loan to pay off existing debt, its Series A Preferred Stock and pay for drilling new wells and reworking existing wells both onshore and offshore in Alaska.

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Warren Buffett says S&P was wrong

With the markets plunging one day and soaring the next, the voices of doom are everywhere.

Economy+Leaders.jpgFor a calmer view of the economy, check out Fortune’s interview with Warren Buffett.

Among other things, the Oracle of Omaha says Standard & Poor’s downgrade of U.S. debt was wrong and he isn’t worried about another economic downtown — not yet.

Fortune: Buffett: The lower stocks go, the more I buy

Controversial speech perfect start for new Forum

Kelly King got the Knoxville Economics Forum off to a rousing start on Friday, even if some of his assertions were a bit of a stretch. The loquacious chairman of BB&T Corp. brought the right mix of commentary, controversy and insight to the first of what I hope will be a long series of talks by distinguished speakers.

King caught some of those in the Forum’s audience off guard by pushing a political agenda. Clearly, anyone who says voters need to eliminate the “fundamentally socialist” attitude that controls Congress, is being politicial.

At first, I was put off by the tone of King’s remarks. But as I thought about his talk over the weekend it occurred to me that his speech was perfect for the Forum’s first event.

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