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GREENWOOD VILLAGE, Colo., March 9, 2012 /PRNewswire/ -- CIBER, Inc. (NYSE: CBR - News), a global information technology consulting, services and outsourcing company, today announced that it has closed the previously announced sale of its Federal division and related assets to CRGT Inc., a leading provider of full life-cycle IT services and expert in emerging technology solutions for the Federal government. As previously announced, the closing price was $40 million.

(Logo: http://photos.prnewswire.com/prnh/20010927/CBRLOGO)

"This sale was an important strategic step in creating value for our shareholders, and allows us to focus on the core components of our growth," said CIBER President and CEO David Peterschmidt.

Claude Pumilia, Executive Vice President and CFO, commented, "We expect net cash proceeds of $34 million, subject to adjustments for working capital items post-closing. We are committed to using at least $9 million of the proceeds to further pay down debt under our existing credit facility."

About CIBER, Inc.

CIBER, Inc. is a global information technology consulting, services and outsourcing company applying practical innovation through services and solutions that deliver tangible results for both commercial and government clients. Services include application development and management, ERP implementation, change management, project management, systems integration, infrastructure management and end-user computing, as well as strategic business and technology consulting. Founded in 1974 and headquartered in Greenwood Village, Colorado, CIBER has more than 7,400 employees and subcontractors and operates in 18 countries, serving clients in North America, Europe and Asia/Pacific. Annual revenue in 2011 was $1 billion. CIBER trades on the New York Stock Exchange (NYSE: CBR - News), and is included in the Russell 2000 Index and the S&P Small Cap 600 Index. For more information, visitwww.ciber.com.

About CRGT Inc.

CRGT is a full life-cycle services provider and leading expert in emerging technology solutions for the Federal government. Working as a close partner with government agencies spanning national defense, domestic security and civilian services, CRGT has earned a proud track record of success with integration and operations for large-scale, high-volume solutions that connect these vital agencies to their diverse constituencies. CRGT is best known for programs such as Army Knowledge Online (AKO), an enterprise-scale, cloud-based, knowledge management solution serving over 2.3 million users globally. More broadly, CRGT is known for its work across numerous innovative technology domains, including enterprise mobile computing, cloud services, visually and spatially oriented analytics solution and cyber security in support clients such as the Department of Justice, Department of Homeland Security, the U.S. Army, the Veterans Administration, United States Postal Service, Montgomery County, MD and more. Spun out from CherryRoad Technologies in 2008, CRGT is a uniquely positioned, nimble organization that offers customers the flexibility and agility they have valued for over 25 years combined with the strength that comes from being part of the Veritas Capital group. For additional information on CRGT, please visit http://www.crgt.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to our operations, results of operations and other matters that are based on our current expectations, estimates, forecasts and projections. Words, such as "anticipate," "believe," "could," "expect," "estimate," "intend," "may," "opportunity," "plan," "potential," "project," "should," and "will" and similar expressions, are intended to identify forward-looking statements. For example, we make certain forward-looking statements regarding our current expectations for revenue, cash flow, debt balances and profitability for certain of our business units or the Company for 2012 and the future. These statements reflect a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by our forward-looking statements. These risks include, without limitation, risks that: (1)economic and political conditions, including regulatory or legislative action, adversely affect us or our clients' businesses and levels of business activity; (2) the refinancing of our credit facility is not completed as expected, in which case we face covenant issues; (3)we cannot expand and develop our services and solutions in response to changes in technology and client demand; (4)we cannot compete as effectively as we expect in the highly competitive consulting, systems integration and technology and outsourcing markets; (5)our work in the government contracting environment exposes us to additional risks; (6)our clients may terminate their contracts with us or they may be unable or unwilling to pay us for our services, which may impact our accounting assumptions; (7)our outsourcing services subject us to operational and financial risk; (8)we cannot maintain favorable pricing and utilization rates; (9)our business is restricted by our current level of indebtedness and we could breach our financial covenants, and/or be unable to amend, extend or replace our current debt facility under favorable terms; (10)we cannot anticipate the cost and complexity of performing our work or we are not able to control our costs especially on fixed price contracts; (11) our global operations are subject to complex risks, some of which are beyond our control, including, but not limited to, fluctuations in foreign exchange rates; (12) we cannot balance our resources with client demand or hire sufficient employees with the required skills and background; (13) we may incur liability from our subcontractors' or other third parties' failure to deliver their project contributions on time or at all; (14) we cannot manage the organizational challenges associated with our size or our business strategy; (15) our share price could fluctuate due to numerous factors, including variability in revenues, operating results and profitability; and/or (16) other factors discussed from time to time in the Company's news releases and public statements, as well as the risks, uncertainties and other factors discussed under the "Risk Factors" heading in the Company's Form10-Q and most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Most of these factors are beyond CIBER's ability to predict or control. Forward-looking statements are not guarantees of performance and speak only as of the date they are made, and CIBER undertakes no obligation to publicly update any forward-looking statements in light of new information or future events. Readers are cautioned not to put undue reliance on forward-looking statements.

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Ciber Announces the Closing of the Sale of Its Federal Division

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings has affirmed the 'AAA' ratings assigned to the following auction market preferred shares (AMPS) issued by Pioneer Municipal High Income Trust (NYSE: MHI - News) and Pioneer Municipal High Income Advantage Trust (NYSE: MAV - News), both of which are leveraged municipal closed-end funds advised by Pioneer Investments Management (Pioneer):

Pioneer Municipal High Income Trust (MHI):

--$50,000,000 of auction market preferred shares, series A, with a liquidation preference of $25,000 per share;

--$51,000,000 of auction market preferred shares, series B, with a liquidation preference of $25,000 per share.

Pioneer Municipal High Income Advantage Trust (MAV):

--$75,000,000 of auction market preferred shares, series A, with a liquidation preference of $25,000 per share;

--$75,000,000 of auction market preferred shares, series B, with a liquidation preference of $25,000 per share.

KEY RATING DRIVERS

The 'AAA' rating affirmations reflects:

See more here:
Fitch Affirms Preferred Share Ratings of 2 Pioneer Municipal Closed End Funds at 'AAA'

The sidewalks are the domain of tourists, prospectors and preachy Park Slope moms. There's no room for cabs, and there's certainly no room for car dealerships to let their products idle. But it's not like common decency stops some dealerships: a tipster sent us the above photos, and asked, "One dealership on the West Side has the habit of parking many of their cars on the sidewalks. Is that legal? Authorized?"

No, it is definitely not legalaccording to the Department Of Transportation, stopping, standing or parking on a sidewalk warrants a $115 fine. But our tipster says he has contacted the DOT several times, and not heard from them about any of his complaints. Along with the sidewalk parking, he's also complained about graffiti on newsstands, missing bus info panels, damaged roofs and shattered glass: "I doubt I will hear from DOT. I [emailed them] over 8 times since last August. [They are] not responding to my requests and at the same time the needed work is being ignored. Do you know why DOT is stone walling me?"

This practice is not unique to NYC either (we've seen Parking Wars!). Another reader told us about his friend's bizarre and scary encounters with a car dealership in Newark last year, where one dealership would park their cars on the sidewalk, forcing him off the sidewalk and into the street while walking.

They brought over this huge tow truck with a huge bed, they loaded up all their cars and took them away. Later that day, my friend was walking from the Newark train station home and they pulled up alongside him in car. And a couple guys from the dealership leaned out and said, "Hey f----t, we're gonna hire a n----r to kill you." After that, he started avoiding them, changing his routes, and he'd always try to walk with other people. And now he doesn't live there anymore.

Go here to see the original:
Will DOT Ever Notice This Illegal Sidewalk Parking?

Photo by Contributed image

Contributed image "WZRD," the first collaborative CD from Kid Cudi and producer Dot Da Genius, mixes hip hop with guitar-driven, rock-based production.

Longtime friends and partners Kid Cudi and producer Dot Da Genius converge under the moniker "WZRD" in their debut collaborative self-titled album, which reveals a new musical direction for Scott Mescudi.

In "WZRD," Cudi jousts his demons and celebrates his triumphs through melodic rhymes, while other times full-out singing to the best of his (limited) abilities. Furthermore, Cudi's lyrical sensitivity and introspection are ever present throughout the album. But the biggest difference in "WZRD" from Cudi and Dot's previous works is Dot's guitar-driven, rock-based production. Cudi always has straddled the lines of hip-hop underdog and emotive rock star, as if in the depths of his conscience RUN-DMC and Aerosmith were battling it out as they did in their '80s hit, "Walk This Way."

Now in "WZRD," Joe Perry kicks the wall in, unplugs the turntables, cranks the gain on his amp up to 11 and lets his Les Paul wail. In the process of creating the album, Dot and Cudi taught themselves electric and bass guitar while extensively studying their favorite rock acts, such as Pink Floyd and The Pixies.

The result of their experimentation is an album chocked full of heavy electric guitar, ambient entrancing vocals and potent thought-provoking lyrics that are a clever byproduct of Cudi's otherwise repressed alter-ego.

"High Off Life" follows the instrumental intro and starts the album off on an exhilarating note with gritty guitar chords, deep pounding drums and Cudi's rousing chorus, "Never thought the day would come for me/When I would be high off life!/ There's so much I haven't seen."

Listeners immediately get the direction Cudi and Dot are headed in and realize that Dot's production genius expands beyond the elements of hip-hop.

Within Cudi's music, drugs and addiction have always been a recurring theme. In "High Off Life," he persuades us he is free and that "O.D.ing off the life" is a sufficient fix, but Dr. Pill finds him reverting to using medication as his therapy. In "Teleport to Me, Jamie," a song to his recent ex, Cudi yearns to be near his then new love: "I can't stand the times when I'm alone at night/And I feel your side of the bed and it's cold/Wide awake, I don't know the time/Cause I'm too busy texting you on my phone."

"WZRD" follows the tradition of their favorite bands, such as Nirvana and Lead Belly, in covering the traditional folk song "Black Girl" in "Where Did You Sleep Last Night." The duo breaks tradition by beefing up the originally somber and acoustic track with echoing electric guitar and Cudi's fervent vocals.

Continue reading here:
Cudi, Dot meld grinding rock, hip hop

The state auditor's office found "gross mismanagement" at a company that provided rural transportation services for the N.C. Department of Transportation and wants it investigated by authorities.

The Cary company 2Plus worked for years without a contract, overcharged the state, and took poor care of DOT-owned vehicles, according to auditors.

The DOT employee who managed the contract, former Public Transportation Division Director Miriam S. Perry, retired last year.

Noting that the contract with 2Plus was the only one Perry personally managed and that the company employed a former DOT worker, auditors said they were sending the report to the State Bureau of Investigation. Calls to Perry and 2Plus were not returned.

Paul F. Morris said he moved to end the state's association with 2Plus when he started work last fall as the department's deputy secretary for transit.

"We ceased operation of the program, we cooperated with the state auditor's office to identify any deficiencies, and we've since been working diligently to implement every action we can to ensure it doesn't happen again," he said. The company stopped operating the program Nov. 30.

According to the audit, 2Plus received $4.3 million in state and federal money over 11 years to operate the van pool.

In those years, the company worked without a contract for the equivalent of about six years, billed the department for $163,272 in various charges that appear "excessive and unreasonable," and didn't properly maintain the DOT-owned vans, according to the audit. One van went 45,000 miles before it got its first oil change, the audit said.

According to the audit, counties, not the state, usually manage rural van pool programs aimed at getting people in rural areas where there is no bus service to jobs. The report said 2Plus was the only van pool operator paid directly through the state transportation department.

Perry faced no discipline, Morris said, because she retired soon after the department learned of the audit and the scope of the problems. When asked, Perry was forthcoming about the situation, he said.

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Auditors: Investigate transport firm that worked for DOT