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delmarvawebmaster on 2009/12/7 23:18:51 (0)
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We have the ability to create subcategories under each of our main categories. If your organization, business, sports team, neighborhood, home owners association or other group desires to make regular use of this website feature, please contact us and request that we establish a separate subcategory under the appropriate category - this will aid visitors and your members to locate the latest news and announcements of your group. If you send us an electronic .gif or .jpg picture or image of your facility or logo, we can post that so that it appears with the Section devoted to your organization or group.
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Hints for Use - News and Announcements from the Community Subcategories
Posted by delmarvawebmaster on 2009/12/7 23:18:51 (0 reads)
Read Me First

We have the ability to create subcategories under each of our main categories. If your organization, business, sports team, neighborhood, home owners association or other group desires to make regular use of this website feature, please contact us and request that we establish a separate subcategory under the appropriate category - this will aid visitors and your members to locate the latest news and announcements of your group. If you send us an electronic .gif or .jpg picture or image of your facility or logo, we can post that so that it appears with the Section devoted to your organization or group.
Hints for Use - Subcategories

  0   Article ID : 4
How to make use of our News & Announcements from the Community feature
Posted by delmarvawebmaster on 2009/12/7 23:17:31 (0 reads)

One exciting feature of the new www.DelMarVa.Biz is our "News and Announcements from the Community" feature. This feature permits registered users of the website to submit and self approve news and announcements in a variety of categories. Available categories include "Community & Civic Organizations", "Neighborhoods & Communities," "Churches & Religious Groups", "Charitable Organizations", "Local Business News", "Local Schools & Educational Institutions", "Sports & Recreation", "Death Notices & Obituaries", "Job Promotions, Awards & Honors", "Governmental", "Birth Announcements", "Marriages", "Fairs & Festivals", and "Local News." This feature also allows us, upon receipt of a request from you, to create a special subcategory for any individual group, and the ability to post and approve news under this subcategory can be restricted to members of your group designated by you.

  0   Article ID : 3
Terms of Use for News & Announcements from the Community
Posted by delmarvawebmaster on 2009/12/7 23:13:18 (0 reads)

The News & Announcements from DelMarVa Communities portion of www.DelMarVa.Biz is made available as a public service. In order to post, you must be a registered user of the website. Posting is subject to our Terms of Use as linked from the bottom of our Home Page. By posting, you adopt and agree to our Terms of Use and News from the Community Policies as a binding legal agreement. These include (i) a representation by you that the post is accurate, does not contain any copyright content of any third party unless you have the right to post it, (ii) a prohibition against any posting that is slanderous, illegal, containing "hate" material," (material expressing racial, religious, sexual orientation or other bigotry) or known to you to be untrue, and (iii) a representation by you that if posting on behalf of an organization or other person, that you have the right to make such posting. Violators are subject to loss of posting and/or website access privileges. If you observe any posting which violates our Terms of Use, please notify us via our contact link (on the Home Page) and report the abuse and we will endeavor to promptly investigate and remove if appropriate.

  0   Article ID : 2
Valero to Permanently Close Delaware City Refinery to Strengthen Financial Posit
Posted by delmarvawebmaster on 2009/11/20 18:20:36 (0 reads)

11/20/2009 - Valero Press release
11/20/2009
Delaware City, DE
Valero Energy Corporation (NYSE: VLO) announced today it intends to permanently shut down its Delaware City refinery due to financial losses caused by very poor economic conditions, significant capital spending requirements and high operating costs. The shutdown will affect approximately 550 employees at the plant.

Valero notified refinery employees today of the impending shutdown, and will immediately begin negotiations with the refinery’s unions regarding the effects of the plant closure and the employees’ severance packages. A safe and orderly shutdown of the refinery will commence immediately. Valero remains committed to its marketing businesses in the Northeast and will continue to reliably supply its customers, partially through higher throughput rates at the company’s other refineries.

“The decision to permanently close the Delaware City refinery was a very difficult one,” said Valero Chairman and CEO Bill Klesse. “We have spent the last year diligently trying to avoid this situation, and I have worked closely with Gov. Markell in an effort to find a different outcome. Earlier this fall, we shut down the gasifier and coking operations in an attempt to improve reliability and financial performance, but the refinery’s profitability did not improve enough. Additionally, we have sought a buyer for the refinery, but feasible opportunities have not materialized. At this point, we have exhausted all viable options.

“We realize that the decision to close the refinery affects many employees, their families, and the community. We are thankful to our employees for their service, and we will treat them fairly during this difficult period.”

In the fourth quarter of 2009, the company expects to report a pre-tax charge of approximately $1.7 billion to $1.8 billion, or $2.00 to $2.15 per share after taxes, related primarily to asset impairment, employee severance and other shutdown costs. The company estimates the cash portion of the pre-tax charge will be in the range of $125 million to $150 million. The current and historical financial results of the affected operations will be shown as discontinued operations in the company’s financial statements.

The company estimates the shutdown will reduce pre-tax operating expenses by approximately $450 million, including $125 million of non-cash costs, in 2010 and will reduce capital spending and turnaround costs by approximately $200 million through 2010. In addition, the company expects to receive after-tax cash flows in 2010 in the range of $600 million to $700 million from inventory sales assuming current prices and other cash benefits from discontinued operations.

“As a result of this business decision, we expect the substantial cost savings and cash benefits will improve the company’s financial position and cash flow for 2010,” Klesse said. “Our action is consistent with previous actions we have taken to improve our profitability and lower our break-even costs to become more competitive.”

About Valero:
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and 2008 revenues of $119 billion. The company owns and operates 16 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation’s largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit www.valero.com for more information.


  0   Article ID : 1



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