Six Factors That Can Cost You the Interview-Job

By Bonnie Lowe

Most job seekers know that an unprofessional appearance will count against them at an interview. Here are six MORE factors that can help you remain in the unemployment line:

(1) Being unprepared for the interview. Prepare, plan, and practice! In today’s tough job market, you MUST do everything you can to give yourself an edge… preparation is the key.

(2) Not being able to communicate clearly and effectively. This is important during the interview and on the job. Being nervous can really mess up your communication skills, so being well prepared and practicing what you’re going to say are always your best bet.

(3) Being aggressive, arrogant, or acting in a superior way. No one wants to hire or work with people who think they’re better than everyone else. Be careful with your attitude, even if you think you’re surrounded by incompetent fools. Being confident is good. Being an arrogant jerk is bad.

(4) Making excuses for failings. Your teacher never bought “The dog ate my homework!” and your boss isn’t going to buy “The finance department gave me the wrong figures!” In the grown-up world, you have to take responsibility for what you are responsible for! You’ll never earn respect by blaming others when things go wrong.

(5) Saying unfavorable things about previous employers. Even if you left a job because the boss was an egomaniac who took credit for all of your hard work, verbally abused you in front of others, and poisoned the plant on your desk, don’t say anything bad about him/her during an interview. When asked “Why did you leave your last job?” say something like “My manager and I both agreed that my advancement opportunities were limited there and obtaining another position was the best option for me and my career goals.”

(6) Having a poor/limp handshake. Why do people think you’ll be a lousy employee if you have a lousy handshake? That’s not really logical, is it? Doesn’t matter. It just turns people off and gives them a bad impression of you. So make your handshake firm and confident but not bone-crushing. (It’s not a competition to see who winces first!)

If you DON’T want to be unemployed, don’t let any of those traits apply to you!

Bonnie Lowe is author of the popular Job Interview Success System and free information-packed ezine, “Career-Life Times.” Find those and other powerful career-building resources and tips at her website: http://www.best-interview-strategies.com.

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Three Reasons Why Professionalism Is Campaigned By Employment Agencies

By Mary Margaret Duque

The increasing preference for what you know and what you can do, over whom you know, created a renewed sphere of trust among applicants all over the globe. Employment agencies’ campaign of strengthening professionalism and craftsmanship generated positive waves of response from the external stakeholders.

Way back in the old days, people get jobs and are elevated into higher positions because of the people they know inside the organization. In government offices, although a prohibition on office nepotism has been made into law, there were way too many incidences of political accommodations committed by those put in positions. As a result, those who were not accommodated or hired, but have the skills and were qualified for the positions, lost their trust and confidence in the impartiality of the screening and selection process. Until recently, employment agencies, along with idealistic employers and vigilant stakeholders, acted to renew the working populations’ trust and confidence in the employment process and in the merit system, both in the private and civil services. These individuals and entities believed that merits should still be the sole basis of employment and promotion. This is actually the first step towards a larger goal of improving the quality of human resource of any organization. Below are top three reasons for this active campaign.

1. Profitability of an organization can only be maximized if the right people are put into positions.

Employment agencies work hand in hand with employers to increase the latter’s business profitability. They acknowledge the crucial fact that a particular sales target or a particular revenue can only be achieved if the people working within the team are equipped with the right skills and craftsmanship to get the job done right and excellently. When you hire base on political accommodations and in debt of gratitude, you are not doing your organization a favor. You are actually sabotaging its success by putting in unqualified people.

2. Empowered people help create synergy within the organization.

Once an employer practices professionalism in dealing with its human resource, the natural tendency is for its human resource to look at him with high regard and with utmost respect. That respect will soon translate into trust, the kind of trust which moves people to be honest and proactive with their efforts in contributing to the goal of the entire organization.

3. Professionalism is contagious.

A single positive act can move others to do the same. If the employer and the employment agencies are practicing professionalism in their dealings with their employees and their applicants, it is consequential that the latter group will emulate. Soon, everybody will be spreading goodwill all over the place.

Looking for employment agencies in Ireland that are cost-effective? We can be of service to your recruitment needs in any location across UK and Ireland. More info can be found about recruitment agencies.

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Skills Upgrade: How to Stay Employable

By Brent M Jones

I will let you in on a little secret.

Like many bloggers, when I go to compose a new article that I intend to syndicate and share across the web in article directories, on forums, and through various social media outlets, I start first with a Google Keyword search. I want to know what job-seekers are after on the web.

My intentions in writing this article are to talk about ways to boost your employable skills and marketability to potential employers even before you need to find a job. In other words, a “skills upgrade.” But here is the scary part.

According to Google Keywords, there are just over 22,000 global monthly Google searches for the phrase “employable skills.” That is compared to 1,500,000 global monthly Google searches for the phrase “find a job.” To put that into perspective with two examples, the unemployment rate in the United States is just over 8%. In Canada, it is just over 7%. That means that in both markets, there is an employment rate greater than 90%. Yet people looking for a job outnumber those looking to stay employable by roughly 68:1.

I know these numbers are approximate at best, but they serve to illustrate a scary reality – most people who have a job do not stop to think about staying employable. And why should they? It is human nature to be lulled into a false sense of security while we are working. That is why so many people live pay check to pay check, never stopping to consider what would happen if they were to suddenly lose their job. According to the last statistic I heard, less than 5% of Canadians (I live in Canada) will save any money whatsoever this year. That is an alarming statistic.

We all know of a middle-aged person who has suddenly lost his or her job, found him or herself unemployable in their particular industry, and forced to restart a career from the ground up. I watched this happen to my father as I was growing up. After working in the same position for more than 20 years, he suddenly found himself out of work one day and needing to restart his career well into his forties. Needless to say, it wasn’t easy. As the expression goes, an ounce of prevention is worth a pound of cure.

Regardless of how confident you may be in your current position, I am going to outline three important and simple ideas to help you remain marketable.

Keep your skills up-to-date.

I personally know a woman who was laid off from her position in graphic design. Although she was devastated, it did not come as a big surprise to me. She completed her education in graphic design in the 1970?s, and I think it goes without saying that a lot has changed in that industry over the past 40 years. Perhaps the more obvious concern was despite a nice salary and decades to do it, she did not engage in any external upgrading or re-certification aside from what her employer was prepared to pay for.

One thing I would like to make clear, as I have in other posts, is that an employer gives you a job – but is it up to you to build a career. Do not wait for your employer to pay for you to get more technical training behind you, or to advance your skills. Take an evening course at a community college. Take a course through correspondence. Learn a new skill through an apprenticeship, a mentor program, etc. Volunteer to do an internship part-time elsewhere to acquire new skills. Heck, even read a book on your own. It is better than nothing! Constantly keep learning. The last thing you want to do is find yourself out of work one day with your most recent set of skills acquired decades ago. If this happens, despite your vast levels of experience, you will find yourself competing with new graduates for entry level positions.

Constantly keep up-to-date on the job market.

Do you have your resume up-to-date? I should hope so. Be prepared.

Even if you are content in your current position and you have no intention of leaving, always be aware of what jobs are in high demand and who is hiring. Check out classifieds, both print and online services like Craigslist. When a friend tells you about what he or she is doing for work, ask if their company is hiring. Attend local career fairs. See what programs are filling up at colleges and universities in your area.

Two of the easiest ways to stay job-market-ready are by creating profiles on LinkedIn and Monster. Keeping a copy of your resume online and publicly searchable is an easy way to acquire contacts and learn who is after the skills that you have. There is nothing wrong with doing this. Some people seem to feel that if their current employer found out, it could somehow compromise their well-being in their current position. Not at all. It is in fact quite the opposite. It indicates to your current employer that you are in fact marketable, have options, and that you are a commodity to them.

I am not trying to encourage you to job hop, but I do not think it is in poor taste to attend an interview or two while currently employed. Always keep your options open. Plus, imagine the confidence you would have going into an interview for a job you really don’t need! This leads to my third point.

Networking.

Have you ever heard that it’s not what you know but who you know?

This isn’t true in all cases, but it certainly can be with job-hunting. I have been hired by more companies because someone I knew was aware of my skills than by submitting a resume. After all, why would a hiring manager sift through 1000 resumes when they could just pick up the phone and call you in for an interview?

There are a variety of ways to make contacts in your particular industry. It can be as simple as going out for drinks with friends who work with a competitor, attending a local Chamber of Commerce meeting to mingle, or making connections through online forums or job sites pertaining to your industry.

Another great place to start is by staying in constant communication with references from your past jobs or other endeavors. Having been a reference for others numerous times, I can’t tell you how often I would hear from a past employee asking for a reference and at no other time. This doesn’t foster a very personal relationship. Pick up the phone and call your references at least once every three months. Ask them how they are doing, how business is going, what new information they have heard in your industry, who is hiring, etc. These former employers can be a vast wealth of information for you.

The more important thing to take away from this article can be summed up with a quote from Jim Collins who says, “Good is the enemy of great.” It is not good enough to simply be employed right now. You need to be ready for anything. Maybe it is time you ask yourself if you are due for a skills upgrade.

Brent Jones lives in Toronto, Canada and spent the majority of his professional career in recruiting and sales. He currently offers job-seekers advice through JobGettingTips.com.

He is also the author of the successful eBook ’7 Fatal Mistakes Made by Most Job Applicants.’ It is available for free download by clicking here.

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Pre-Employment Testing: Best Way to Assess the Quality of Your Potential Candidate

By Rakshanda Naz

Every employer has this inner desire to have the best work force in the industry. It is so because an up to mark labour force transcends to a better performance of the company. This necessitates every employer to do everything possible in order to recruit the best employees among the many applicants. In every pool of applicants for any advertised job by any company, many potentials employees have similar qualifications and in skills and it become hard for the employer to sieve for the best. Thanks to pre-employment testing program, this has softened and lifted all this hassle from the employer. The employer can execute the programs available through online or physical means.

Pre-employment testing program is a comprehensive tests performed on potential candidates to assess their quality and whether they meet the job requirements. This program has become very prominent in recruiting agents due to its high screening ability. However, due diligence is imperative in executing the program, for better results. The user should base the ultimate choice of the best employee only on merit and not either ethnicity, racial, religious or regional basis. The tests performed encompasses all the individuals dimensions and may include personality tests, medical examinations, background and credit checks, cognitive tests, talent assessment tests, drug tests and physical exams among others.

Drug tests

These are tests performed on the potential employee to check whether the candidate is in drugs, which can harm his or her health, or affect his or her performance. The test includes alcohol testing, urine test, saliva drug and sweat drug screen tests.

Cognitive tests

Cognitive tests measure the level of reasoning accuracy and speed arithmetic skills, candidates reasoning and memory capacity. This will ensure that the employer settles on the right candidates with high cognitive quality, which means that the candidate can perform well in the organisation.

Personality tests

Personality tests assess the conduct of a candidate given certain circumstances and his or her behavioral aspects in different situations. In addition, it assesses a person’s disposition or degree of certain traits. This gives the employer an idea about the best management or leadership style to use for different employees.

Medical examinations and background tests

Medical examination gives an overview of the candidate’s health. It includes blood screening for various diseases and the metabolic functionality. This enable the employer in planning the medical schemes and in assessing the candidate’s likely performance once placed. On the other hand, the background test gives the historical background of the candidate. It may include criminal record checks and conviction account.

Credit checks

It’s a check performed to establish the candidates present financial position and his or her past financial record. It shows how well or badly the candidate can manage his finances and hence the company’s finances.

Talent assessment tests

Also known as career tests, helps the employer to show how suitable a certain candidate is for certain job in offer. This helps to match the candidate with the jobs description and predict the candidate’s retainability and performance.

Before hiring, it is essentially significant to opt for pre-employment testing in order to make the right decision.

Select the right employees for your business with the help of Smart Moves Inc.

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ICTs: A Growing Sector for Employment

By Julio A. Olivares

Not all business sectors are affected negatively by the current economic crisis. The ICT sector is still a competitive area worldwide, where any candidate with a technological profile and proper training can find interesting and promising job opportunities and fulfilling careers. A top ten ranking of the most innovative enterprises published by Forbes magazine in 2011, includes five ICT companies: Salesforces.com (1), Amazon.com (2), Tencent Holdings (4), Apple (5) and Google (7).

The ICT sector is dynamic and swiftly changing towards a still unpredictable future. A perpetual and substantial job offer is guaranteed in an unexplored area that is open to creativity, innovation and new methods of working, interacting and learning. As such, according to the report called “A Bright Future in ICTs – Opportunities for a new generation of women”, published by the International Telecommunications Union (ITU) in February 2012, The Institute for the Future (IFTF) has identified six key factors that are likely to shape the future workforce: longer life spans; a rise in smart devices and systems; advances in computational systems such as sensors and processing power; new multimedia technology; the continuing evolution of social media; and a globally connected world.

The importance of ICTs in Europe

One of the key factors in a nation’s competitiveness is its human capital and talent (i.e. the expertise, training and productivity of its work force). It is clear, however, that the economic investment made in a specific sector determines its growth.

In fact, the impact of ICTs on a country’s economy can be measured from its weight in GDP. The European average is 2.5% of GDP for information technologies and 3% for communications, as indicated in 2011 by Fundación Orange in its annual report regarding the development of the Information Society in Spain.

This report also highlights that more developed countries invest large amounts in ICTs, while this situation is inverted in countries which are less economically developed, although many ICT companies transferred part of their services to non-European nations.

Furthermore, this report underlines the unequal distribution of production generated by the different ICT sectors, and classifies different countries in four groups or clusters. The first group comprises the leading nations (Germany, France, Great Britain and Italy), where ICT production in industry and services is beyond the average EU level. The second cluster contains the “followers”, such as Spain, with ICT production values in industry and services over the EU average. These figures, however, reflect a certain disproportion among sectors, which causes an unbalanced ICT production level. A third group includes the countries that we might call “balanced” countries. Here, the ICT production level in industry and services is more or less equal to the EU average and the values for industry and services are similar. Finally, the fourth group contains countries with below-average levels, but without large production mismatches between the different ICT sectors.

Disparities between supply and demand

A study conducted by the human resources firm Adecco, in collaboration with Infoempleo, indicates that although 2012 is still a bad year for job creation, the only sector that will still grow is the ICT sector. In fact, I.T., with 5.5% of jobs, is the third of the economic areas that generate the most employment in Spain. Apart from being the fastest growing area in 2011, the report says it is the best hope for 2012.

Despite this promising future, the Spanish labor market suffers from the paradox of its job demand not being covered due to the shortage of professionals, according to the report called “ICT Employment Observatory in Spain” conducted by the job center Ticjob.es. According to this study, the lack of qualified professionals highlights the difference between labor supply and demand in this area. The report identifies four sources of disparity between supply and demand: training, expertise, experience and location. All these factors have a direct impact on employment.

Regarding the aspect of training, the mismatch is due to the fact that 60% of jobs require a degree in ICT or at a higher level, although the number of university enrollments in this sector has decreased by 40% since 2004. Moreover, the figures suggest that this tendency will continue. When talking about expertise or specialization, some job positions are not occupied, because the requirements demanded by companies are too high and cannot be met by the candidates. Experience has become another handicap, as 34.5% of the job offers require previous experience of 3 to 5 years and 33% request an experience of 5 to 10 years, which places recent graduates in a complicated situation. The unwillingness of some candidates to relocate or even to travel regularly is another reason for certain vacancies to be difficult to fill and to limit the incorporation of certain types of work.

There is no doubt that a good academic background along with continuous training and flexibility may be some of the key factors for a candidate to be eligible to occupy a qualified and promising position in the ICT sector.

Information Resources:

Forbes magazine: A Bright Future in ICTs – Opportunities for a new generation of women (ITU).
Institute for the Future: Report: eEspaña de la Fundación Orange
Report elaborated by Adecco and Infojobs.
Report: I Observatorio de Empleo TIC

Julio A. Olivares
DocPath President and founder

http://www.docpath.com

Document Management Software

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How the Job Agency Works

They can also screen prospective employees.

A reliable job agency will not guarantee that you will get a job, but they can work to help you find suitable employment. In the U.K. Agencies are regulated by the Employment Agencies Act of 1973, that governs the conduct of over 17000 agencies.

The law is meant to prohibit the majority of the agencies from charging upfront fees, and it makes it an offence to publish misleading advertising for non-existent jobs. There are also some guidelines that must be followed when the experience and ability of the prospective employee is assessed. The regulations were introduced after similar regulations were passed in Germany and France.

There are also some supporting regulations that govern the conduct of the job agency. They are prohibited from withholding pay or demanding fees from workers. They are also required to give workers a written statement of the expected pay and hours of work, and a statement of the status of the contractual obligations. Agencies can be international or international in scope, and they can be of tremendous benefit to help employers in saving money.

Employers readily acknowledge that the cost of finding good new employees can be very expensive. In a volatile market, retaining skilled and valued employees, becomes very competitive, and can cost up to 30% of the first year salary.

There are a few fees that the job agency is allowed to charge. They are allowed to charge the employers for services. They may also be allowed to charge individuals for some services that are not included as recruitment-related. In some case the employee may be charged for job skills training or resume preparation. This should be stipulated in separate agreements.

Both employers and job-seeker must recognize that all agencies are not the same, and operate under different conditions. Jobs seekers are continually entering the job market, which increases the competition, as the economy continues to struggle from the recent economic downturn.

Employers can use agencies effectively when needing employees. There are three steps that the agencies employ in the recruitment process.

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Why Use Employment Agencies

By Shohag Max

Finding a job is not easy as most job-seekers know. It takes time, effort and planning. Effective job searching is a skill that very few can easily master. One the other side of the coin, employers realize that finding suitable employees, can also be time consuming and relatively expensive.

Employment agencies are dedicated to filling the need of both parties. Employers can use the services offered by employment agencies to save some of the time and strain on resources to find the right employee, while the job seeker has access to all the information, services that may be offered without any cost by many of the employment agencies.

When a specific skills set is needed, many organizations will enter into a contract agreement with placement services firms, who may also be known also known as recruiters. The recruiters conduct the search to find people with the desired skills, and matches potential employees with the vacancy. Potential candidates are screened before they are recommended for interviews with the employer.

There are different arrangements that can be made with employment agencies. For companies seeking senior-level managers, they may choose agencies that specialize in finding executives, or an executive search firm, that can sometimes be derisively referred to as a head-hunter. Executive search firms are usually retained by larger corporations, in much the same way that lawyers are retained, and called upon to perform required tasks.

Agencies involved in job searches must now abide by a code of ethics that are governed by regional authorities. A set protocol and standard procedures must be applied when conducting searches for higher level employees. Search agencies that are retained are usually private companies that specialize in specific areas. They may normally provide services for much of the private sector.

The arrangements made that employers make with executive search firms can be convoluted, but it can offer one big benefit to the job seeker, and in most cases it costs nothing, although there may be circumstances where the job seeker may choose to pay for the services offered by the agency.

Employment agencies may charge the company for finding the employee, or they may enter into arrangements that return a percentage of salary as compensation. The rationale may be that the level of employment correlates to the difficulties to be overcome in the employee search ostensibly indicating, that higher level employees with the appropriate skills set may be harder to find.

If you are able to find suitable employment, without having to pay any agency fees, by all means you should do so, but in some cases, agencies may ask the job-seeker for compensation for assistance in finding a job. Choosing a suitable agency depends almost entirely on your personal preferences and circumstances. More efficient assistance may come from an agency that specializes in your field of work, but with the shrinking degrees of separation, it may be possible to establish connections that are totally unrelated.

If you are looking for temporary work, it may be to your benefit to register with agencies that handle full time workers, and vice-versa.

Job searching can be a difficult process for many people, but employment agencies can provide some help. Employment agencies are also used to help businesses find the right candidates.

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What To Do When Your Boss Is a Butthead

By Bonnie Lowe

I’ve never worked for a boss I didn’t like or respect. Sure, some were better than others, but I never considered quitting my job because of a bad boss. Unfortunately, many employees aren’t so lucky.
If your boss is a total butthead, someone you’ll never get along with, admire or respect no matter how hard you try, there are a few things you can do.
Wait. Is your boss close to retirement or promotion–or even better–termination? If so, try to bide your time and wait until that happy event happens.
Bite your tongue. Keeping anger and frustration bottled up inside is not healthy, but neither is complaining about your boss at work. So if your family can tolerate it, vent at home instead. It’ll make you feel better even if it does nothing to help your situation. It may be tempting to complain about your boss at work, especially if coworkers are talking about the same problems. But resist that temptation! If your boss finds out that you are complaining about him, he’ll have a legitimate reason to take appropriate action against you and make your life under him worse than it already is.
Continue to work hard. Regardless of how your boss treats you, it’s in your best self-interest to continue doing your job to the best of your ability. Stay focused and think about how your efforts are helping the company as a whole. If you do a good job, you may get noticed by your boss’s colleagues or even his superiors. Maybe a better opportunity will arise.
Try to improve your relationship. If your boss is a complete butthead, this may be impossible no matter what you do. But if he’s only a partial butthead, perhaps it would be worth your time to try to make the situation better. After all, this person may have control over your advancement up the career ladder. And while quitting may seem to be the easiest thing to do, searching for another job, having to explain why you left your last one, and struggling to get a decent reference from an ex-butthead-boss may make leaving a difficult option for you. Instead, swallow your pride and try to understand your boss’s management style and personality and adapt yourself to that. For instance, if he’s a micromanager, give him constant updates and details on what you’re doing (even if you think it’s a waste of your time and he should just trust you to do your job). Effective communication is very important, and it works both ways. If your boss is unclear in telling you what he wants, ask questions until you know exactly what’s expected. During performance evaluations or one-on-one discussions, ask him what you can do to meet his expectations.
Go over your boss’s head. This is rarely a good idea. But if you’ve tried everything else, and you feel that your boss is making serious mistakes that affect the company (and not just you), consider talking to his superior. If you take this route, be prepared with specific examples and proof, not just accusations. And realize that this tactic may backfire on you (especially if your boss’s boss is also a butthead).
Leave. This may be a difficult decision for you, especially if you like your work, benefits, coworkers and company. But you must also consider your sanity (and that of your family to whom you vent). Carefully weigh the alternatives and if you decide that leaving is your best option, do it right. Don’t yell “I quit!” during a heated argument. Plan ahead–update your resume, start consulting with your network, look for another job. Your goal, if possible, is to have another job lined up before you tell your boss you’re leaving. And even then, resist the temptation to tell him off. Try to leave on the best terms possible and don’t burn your bridges. You never know when and where that butthead boss might show up in your future!

Bonnie Lowe is author of the popular Job Interview Success System and free information-packed ezine, “Career-Life Times.” Find those and other powerful career-building resources and tips at her website: http://www.best-interview-strategies.com.

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Five Powerful Tips for Interns

By Bonnie Lowe

Interning is about more than earning money during summer break. It’s a wonderful way to gain work experience and lay the foundation for your future career. But to get the most out of it, you have to do more than just land the job, show up for work and collect your paycheck. Here are some tips that will help you get the full benefits of interning:
1. Pay Attention. This is more than a job, it’s a learning experience. And unlike school, this is the real world — where you’ll be spending the rest of your life after graduation! Your coworkers know you are new to this and will want to help you, but they can’t spend all day explaining things to you. So when they answer your questions or show you how to do something, pay attention. Also pay attention to what’s going on around you. How do your coworkers talk to each other? How do they treat the boss? What are their goals and concerns? Learn the culture and customs of the work world.
2. Find a Mentor. Whether it’s your supervisor or someone else you work with, find a person who is willing to answer your questions and help you learn. Ask about the job, the company, the career field. Find out what they did to advance in their career, and what advice they have for you. Establish a strong relationship. This person may be able to help you with your career long after you leave this intern job. But be fair and make this a two-way partnership that benefits you both. Don’t just take, give. Offer to help your mentor with special projects or other activities that may not be specifically part of your duties. Make yourself as valuable to him/her as your mentor is to you.
3. Accept Reality. You may get stuck with some work that you feel is beneath you, boring, or just plain pointless. You will probably not be included in the important decisions going on around you. But you are, after all, just an intern. The trick is to make the best of it by doing an outstanding job with every task you’re assigned. Then ask for more. Take on anything you can and show that you can be counted upon to get it done quickly and accurately. Even if it’s something dull like filing paperwork, your efforts will be recognized, appreciated and remembered.
4. Be Professional. Remember, you are in a work setting now and need to act professionally. Don’t show up late, chat on your cell phone, take extra-long breaks or bring your personal life to work with you.
5. Evaluate Your Career Goals. One of the best things you can learn from your internship is whether you’re pursuing the career path that’s right for you. Are you enjoying the work? Is it what you expected? Can you picture yourself doing the same kind of work and being happy with it for the rest of your career? If not, you should re-evaluate your career goals. Discuss your options with your career counseler when you return to school.

Bonnie Lowe is author of the popular Job Interview Success System and free information-packed ezine, “Career-Life Times.” Find those and other powerful career-building resources and tips at her website: http://www.best-interview-strategies.com.

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Houston-based Ursa Resources acquires natural gas and pipeline assets for $325 million

by Stibbs & Co., P.C. on November 12, 2012

The purchase of new assets is often a key strategy in the efforts of Houston oil and gas exploration firms looking to increase their market share. The Houston Business Journal reported that Ursa Resources, a local firm, has reached an agreement to buy assets from Colorado-based Antero Resources for $325 million.

The assets include natural gas and pipeline resources. Further explanation of this particular acquisition will be revealed this week in Colorado at a county commissioners' meeting. Don Simpson, a landman from Ursa Resources, will discuss the effects of this sale, which includes more aggressive drilling processes than the former company utilized.

"We do plan to develop probably more aggressively than Antero," Simpson told the Glenwood Springs Post Independent. "We can drill at today's gas prices."

The Piceance Basin region includes many opportunities for drilling throughout western Colorado, eastern Utah and southern Wyoming, but activity has decreased in recent years due to the decline in natural gas prices. Along with this acquisition, Ursa Resources will also be building an office in Denver, said Simpson in a statement.

More local companies could make additional investments in oil and gas assets if drilling conditions improve, and business lawyers can offer the legal support needed to leverage new opportunities into beneficial contractual agreements. Research performed by Baker Hughes Inc reported a rise in the domestic oil and gas rig count, reversing recent declines. The total number of rigs increased by six to 1,806 during the week that ended on November 9, up from 1,800 the week before. 

The majority of firms were exploring for oil while the rest were geared toward gas exploration. Texas, North Dakota and Alaska made the highest gains in rig count while New Mexico and Arkansas lost some units.

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Report: United States will be leading oil producer by 2020

by Stibbs & Co., P.C. on November 13, 2012

The United States is expected to retake its previously held position as the world's top oil producer, according to the International Energy Agency (IEA). Only a few years ago, surpassing Saudi Arabia as a top oil producer may have seemed nearly impossible, but with the booming energy sector in Houston and the spread of new drilling methods and technologies, the oil and gas industry in the United States is in a strong position, experts say.

The IEA reported that this may occur by 2020. The report also expects U.S. energy use to decline by that year, as fuel-efficiency standards developed by the Obama administration have made an impact on managing the country's energy use and will balance out increased production. In one example, a legislative mandate requires newly manufactured cars and light-duty trucks to average 54.5 miles per gallon by 2025.

The United States is expected to remain at the top of the energy industry through the late 2020s, according to the IEA's World Energy Outlook 2012 report.

The report also emphasized how various innovations in the U.S. oil and gas have revitalized the sector, reversing previous years of declining oil production.

"It basically means we're going to be making more money here in the U.S. off of oil production than has been anticipated," Craig Pirrong, director of University of Houston's Global Energy Management Institute, told the news source.

Growth nationally and locally in Texas will present U.S.-based companies with the opportunity to consider global business expansion and mergers and acquisitions in the attempt to unlock untapped reserves.

Such considerations create legal implications. Working with business attorneys at a local energy law firm in Spring, Texas could help Houston oil and gas exploration firms negotiate deals effectively, navigating the murky waters of acquisition law.

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Houston-based Pernix Therapeutics acquires two pharmaceutical companies

by Stibbs & Co., P.C. on November 14, 2012

While the Houston oil and gas industry does play a major role in this city's growing economy, companies in other industries are also enjoying expansion. Mergers and acquisitions can help push forward a company's pursuits and one Houston-based firm has recently announced a purchase that may ensure its continued success in the region.

The Houston Business Journal reported that Pernix Therapeutics Holdings Inc. has acquired two Mississippi-based pharmaceutical companies for approximately $101 million. The CEO of Pernix, Cooper Collins, said that this is the "most significant acquisition" his firm has conducted in its entire history.

The purchase includes Cypress Pharmaceuticals and Hawthorn Pharmaceuticals, which encompass a total of 170 employees with revenue passing $50 million this year. The deal will be completed by the end of 2012.

"The generic and branded businesses of Cypress and Hawthorn are an excellent fit for Pernix, which is expected to increase the company's revenues for the full year 2013 to approximately $135

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Vast Exploration Hands Back Qara Dagh Block

Posted on 16 November 2012. Tags: Groundstar Resources, Jay Garner, KRG, Kurdistan, Niko, oil contracts, Qara Dagh, Vast Exploration

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Maysan Province Seeks to Control Local Oil Fields

Posted on 16 November 2012. Tags: China National Petroleum Corporation, CNPC, HaLFAYA, Maysan, Maysan Oil Company, Missan, Missan Oil Company, PetroChina, Petronas, Total

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Foreign Firms Win $290m Hospital Deals

By John Lee.

Iraq’s Ministry of Health has announced that it will build two 400-beds hospitals in the provinces of Kirkuk and Muthanna.

Azzaman reports that the Ministry has signed contracts totalling $290 million with foreign companies to build the hospitals, which are part of a plan to construct 11 such facilities.

A Turkish firm is to build the hospital in Kirkuk at a cost of $145 million, while a German firm will build the Muthanna hospital at a cost of $145 million.

(Source: Azzaman)

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Opposition? What Opposition? The Incredible Shrinking Iraqiya Party

By Mustafa Habib.

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Since it lost the race to power in 2010, major opposition bloc Iraqiya has been shrinking, with defections and internal dissent. Now two leading members want to team with Iraqiya’s enemy, State of Law, for elections in 2013.

Once it was the biggest alliance in the Iraqi Parliament

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Iraq Stock Market Report

InvestmentPosted on 17 November 2012. Tags: , Rabee Securities, Stock Exchange, stock market

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th November 2012).

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Video: Shahristani on Oil Market, Production Outlook

Iraqi Deputy Prime Minister for Energy Hussain Shahristani speaks to Reuters about crude production in the country and the global oil market outlook.

(Source: Reuters)

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Total Says Unclear if Iraq Wants it to Exit Halfaya

Video: Shahristani on Oil Market, Production Outlook Iraq Stock Market Report Opposition? What Opposition? The Incredible Shrinking Iraqiya Party Foreign Firms Win $290m Hospital Deals Categorized

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