S&P lowered its rating on Anglo Irish's undated perpetualbonds on Friday by three notches to B. That rating reflects itsview that there is a greater probability of payment deferralfollowing Anglo's nationalization last week, it said. S&P said Anglo has five perpetual hybrid issues outstanding,including three sterling-denominated and two euro-denominatedbonds, which in total amount to around $2.5 billion. The lowest ranking Tier 1, or hybrid, bank debt haveperpetual or very long maturities and its holders are last to bepaid out before shareholders in the case of bankruptcy. Tier 1also have fewer rules on coupons, meaning that interest paymentscan be missed. 
The European Commission could prohibit Anglo Irish fromservicing its hybrid debt obligations if government support isin the future perceived as coming under state aid rules, therating agency said in a note. The Commission will only allow it to payinterest if it is contractually obliged to do so, it said. RISKY TIER 1 The S&P action follows significant weakening in subordinatedbond prices in recent days after Royal Bank of Scotland (RBS.L)revealed the biggest loss in British corporate history and theUK government increased its stake in the bank to almost 70percent."There seems no reason in the world to favour subordinatedfinancials over corporates in CDS or cash," ING creditstrategists said in a note published on Wednesday."Increased coupon deferral and extension risk continues tomake us extremely cautious as to this component of the bankcapital spectrum." Tier 1 bonds of RBS fell to around 20 percent of face valueon Tuesday on fears that the bank will not pay interest paymentson such debt. "Nationalization of the preference shares means that theinvestors in the instruments suffer a loss of principal and allfuture coupons. They will receive compensation, but we expectthis to be limited," S&P analysts said.

State (with a little help from the officials I may add), and Alabama had a close one with Tennessee. Texas had a close game with Oklahoma, a defensive battle, but still a win. How can you say that these three teams should be ahead of Iowa Strength of schedule sais differently, the computer sais differently, but more importantly Iowa is 8-0 and IF they win out, they should absolutely yes have a chance in the title game. Iowa still plays Indiana, Northwestern (which Iowa always struggles against), at Ohio State, and Minnesota. If Iowa wins out, no matter what the final score or how they get there, they should be in the title game. Some people also argue that Iowa has a weak out of conference strength of schedule. Who doesnt! You be the judge Iowas out of conference schedule: UNI, AT Iowa State, Arizona, and Arkansas State. Floridas out of conference schedule: Charleston Southern, Troy, FIU, and Florida State. Alabamas out of conference schedule: AT Virginia Tech, FIU, North Texas, and Tennessee-Chatanooga. Texas out of conference schedule: ULM (University of Louisiana at Monroe, AT Wyoming, Utep, and UCF. I would say they all look pretty weak, aside from Va. Tech and Arizona, there is no one! Iowa has the toughest schedule out of anyone in the top 5, aside from USC. However, USC lost to Washington, and in my opinion should not be in the top 5, maybe not even the top 10. There are a lot of facts that point to Iowa being number 1. I believe that IF, and only IF Iowa wins out, they deserve a shot at the title. After all, when you put all the facts into a non-bias computer, they come out to be number 1! What If..... 60,000 square foot warehouse uses RedPrairie Warehouse Management (WMS) solutionto ship 450,000 pounds of cheese per dayMILWAUKEE(Business Wire)RedPrairie Corporation, a leading consumer-driven optimization company, hasannounced its Warehouse Management (WMS) solution has gone live in CabotCreamery Cooperatives 60,000 square foot distribution center in Montpelier, Vt.An 89-year-old dairy farmer-owned cooperative and award-winning cheese maker,Cabot uses RedPrairies solution to help ship an average of 450,000 pounds ofcheese each day. The solution is currently running in Cabots distribution center and twoproduction sites, helping to effectively track and trace product from the pointit is manufactured to when it is shipped from the warehouse. "We originally chose RedPrairie for the companys expertise in the food andbeverage industry, as well as for their command of cutting edge technology,"says Ralph Viscomi, Cabots Senior Vice President of Information Services."Cabot is very sensitive to our customers demands, so we needed a warehousemanagement solution that was flexible and capable of adapting on a momentsnotice.