What’s New: In Brief (November 10, 2009)

Crawford & Company (NYSE: CRDA and CRDB) reported a net loss of US$39.5 million in 2009 Q3, compared to a net income of US$6.9 million in 2008 Q3.
The net loss includes a non-cash impairment charge of US$46.9 million, primarily related to goodwill in the company’s Broadspire segment.
This impairment charge does not affect the company’s liquidity or cash flow and has no effect on the company’s compliance with the financial covenants under its credit agreement, the company said.
“Our third quarter 2009 operating results are reflective of current global economic conditions, which continue to be challenging,” said Jeffrey T. Bowman, CEO of Crawford & Company.
“While our reported consolidated revenues and earnings are down year-over-year, there are encouraging areas within our business.”
Crawford’s International Operations segment continues to show revenue growth when measured in constant dollars, he continued.
“This growth comes in a very competitive environment where there has been an absence of significant catastrophe activity and reflects the leadership position we enjoy in this market.”

SGI, the Saskatchewan Wildlife Federation (SWF) and Saskatchewan Transportation Company (STC) have added ‘rolling billboards’ to their joint awareness campaign in an effort to prevent collisions with wildlife.
More than 9,000 vehicular collisions with wildlife (mostly deer) are reported per year on average in the province, with the majority of claims occurring in October, November and December.
SGI data shows these collisions cost an average of more than Cdn$35 million in damage claims each year, and can result in injuries or fatalities.
STC buses, which serve more than 280 communities, will be converted to “billboards on wheels” with the new awareness campaign.
“The use of mobile advertising on STC buses is a great addition to the ongoing campaign to help educate the public about this problem,” said June Draude, the minister responsible for SGI.