The Siegfried Group, LLP Welcomes Seven New Technical Leaders to Their New Roles

Due to Firm Growth and Added Leadership Opportunities, Siegfried Appoints New Technical Leaders Throughout the U.S.

WILMINGTON, Del., June 16, 2015 /PRNewswire/ -- The Siegfried Group, LLP is proud to announce the addition of seven new Technical Leaders across our Siegfried markets due to the Firm's continued success and growth. Siegfried's National Technical Leadership Team provides the Firm's Professional Resources with the technical knowledge, coaching and support in order to develop and continue delivering outstanding client service. Siegfried would like to congratulate these professionals on their continued success and wish them well in this new challenging role.

Wendy Beck, CPA, Director, Technical Leader

Wendy joined the Firm originally in 2004 until 2009 and then returned to the Firm again in 2011. In between her time at Siegfried she worked for AutoNation, Inc. as a Manager in Financial Audit Services and for B/E Aerospace as a Finance Project Manager. Wendy also spent a year working for Coca-Cola as the Principal Auditor in their Corporate Audit Department. She began her accounting career with EY as a Senior III in Assurance and Advisory Business Services/Global Investigations & Dispute Advisory. Wendy earned her M.S. in Accountancy from the University of Notre Dame and her B.S. in Finance from Auburn University.

Wendy became interested in the Technical Leader role based upon her prior experiences with utilizing the team. She found the guidance that they provided to be extremely helpful to her and her clients and is thrilled to leverage her own experience to provide this service to other Professional Resources within the Firm. Some fun facts about Wendy... she loves to travel with her husband Shahar, she has a dog named Schnitzel, she memorized the taxonomic ranks and she is a huge New England sports fan!

Kevin Fosty, CPA, Senior Director, Technical Leader

Kevin joined the Firm in 2011 as a Professional Resource in the San Francisco Market. Prior to joining Siegfried he was the Controller for Evolution Resources, Inc. as well as the Managing Director for FTI Consulting in Dallas, TX. He spent several years in public accounting with KPMG, Deloitte and Arthur Andersen. Kevin graduated from the University of Manitoba with the Bachelors of Commerce in Accounting.

"I joined the Technical Leader Team to work with leadership in developing, creating and delivering high level technical training to our team of Professional Resources. I know this is critical in order to continue delivering outstanding service to our clients. This opportunity will also allow me to work on technical accounting and other areas where I might not have had exposure in a while, which will then enhance my own technical knowledge base." In Kevin's spare time he enjoys staying active by running, hiking, traveling and exploring new areas.

Mike Gunter, CPA, Senior Manager, Technical Leader

Mike joined the Firm in 2013 as a Professional Resource in the Boston Market. Prior to Siegfried, he worked for CBIZ Tofias/Mayer Hoffman McCann, P.C. as an Audit Manager. He attended Merrimack College in North Andover, MA where he earned his Bachelors of Business Administration.

"I was driven to the Technical Leader position because of the opportunity to work with other Professional Resources to build their technical expertise and help to exceed their clients' expectations." In his spare time he likes to spend as much time as possible with his family at their lake house in northern Vermont. He goes for a polar bear swim every morning before 6 a.m., even if there is still ice on the lake. His wife and kids do not join him for that part!

John Krepelka, CPA, MBA, CGMA, Senior Director, Technical Leader

John joined The Siegfried Group in 2012 and is currently a Senior Director in the Philadelphia Metro Market and was with Siegfried from 2003 through 2007 as a Director before going on to work at Soloman Edwards Group for a short time. Prior to joining Siegfried, he worked at Tekni-Plex as a Technical Accounting and Financial Reporting Director. He began his career at Laventhol and Horwath as an Auditor. He has held various positions at Dean Witter Reynolds Inc., Smith Barney, PwC and Arthur Andersen LLP to name a few. John received his MBA from St. Joseph's University with a concentration in Finance. He also holds a Bachelor of Science degree in Accounting from Villanova University.

He was attracted to the Technical Leader role because he views it as an opportunity to be a resource for others around him by helping both them and their clients resolves technical accounting issues. A fun fact about John... he recently ran the Philadelphia Broad Street 10 Miler with a group of other Siegfried professionals!

Kevin Olkowski, CPA, Manager, Technical Leader

Kevin joined Siegfried in 2013 as a Professional Resource in the Philadelphia Metro Market. Prior to coming to the Firm he worked as a Senior Internal Auditor for Tokio Marine North America Services. He began his career with KPMG as an Associate and then went on to become a Senior Associate. Kevin earned his Bachelor of Science degree in Accounting from St. Joseph's University.

He wanted to become a Technical Leader in order to leverage his broad range of subject matter expertise that will allow him to make noteworthy contributions throughout the Firm. Additionally, he is comfortable being uncomfortable and is confident enough to tackle any challenges that are presented to him. A fun fact about Kevin... he and his wife love to travel and have even gone sky diving while on a trip to New Zealand.

Tracy Peterson, CPA, Associate Director, Technical Leader

Tracy joined the Firm in 2012 as a Professional Resource in the Denver Market. She came to Siegfried from Sunshine Silver Mines Corporation where she was the Accounting Manager. She also held positions as Financial Reporting Senior Accountant at Aurora Bank and Audit Manager at HEIN & Associates. Tracy began her career with Deloitte as an Audit Senior. She graduated fromUniversity of Minnesota with her Bachelor of Science degree in Business.

Tracy was first interested in becoming a Technical Leader because she enjoys learning and technical accounting since it is always evolving. She knows this role gives her the opportunity to help others through collaboration and discussion of complex topics. A fun fact about Tracy... she loves to travel and has been to five different continents including Antarctica! She always is an avid downhill skier.

Chris Varner, CPA – Associate Manager, Technical Leader

Chris joined The Siegfried Group in October 2012 and is an Associate Manager in the Charlotte Market. He joined the Firm after four years in industry, most recently at HSBC in Chicago, IL. He began his career in public accounting where he spent three years at PwC in Louisville, KY and Chicago, IL. He graduated from the University of Kentucky with a Bachelor of Science degree in Accounting (Summa cum Laude).

Chris is excited to be a part of the Technical Leader team where he can work with Professional Resources and members of Leadership from various markets. He is recently tied the knot with his wife Liz, and is currently enjoying being a newlywed! Chris is also an avid sports fan and especially enjoys cheering on his Kentucky Wildcats.

About The Siegfried Group, LLP

The Siegfried Group is a leading, national CPA firm that helps financial executives with Effective Leadership and Successful Execution. Siegfried provides Leadership Advisory and Talent Delivery services - allowing financial executives to better enhance clarity, prioritization and innovation while matching those leaders with the high-potential financial talent needed to execute initiatives. Siegfried's unique model allows the client to control the project, providing the freedom to complete the project the way the client wants it...resulting in a better, faster and more cost-effective outcome. Siegfried Professionals' unique intangibles shine as they work under the direction of the best leaders helping them with their most important work. This combination results in extreme value for our clients and our professionals...better ensuring clients are "Doing the Right Things, Right." 

For more information about a career at The Siegfried Group, please visit www.siegfriedcareers.com.

SOURCE The Siegfried Group, LLP

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Concord Coalition: CBO Report on Long-Term Budget Outlook Offers Campaign Primer for Presidential Candidates

WASHINGTON, June 16, 2015 /PRNewswire-USNewswire/ -- The Concord Coalition said today that worrisome long-term projections from the Congressional Budget Office (CBO) show why comprehensive budget reforms are crucial to the country's future -- and should be a central focus of the 2016 presidential candidates.

"Today's Long-Term Budget Outlook should be considered an essential campaign primer for the presidential candidates in both parties," says Concord Coalition Executive Director Robert L. Bixby. "It shows why the next president, working with Congress, must move quickly and effectively to put the country on a more sustainable course. Otherwise we can expect increasingly severe budgetary difficulties, rapidly growing government debt and a weaker economy. These challenges and proposed solutions must be discussed during the presidential campaign so that the person who enters the Oval Office in early 2017 will have a clear mandate to act."

Earlier this year the budget office warned that under current law the federal deficit, after dropping in recent years, would begin rising again after 2016, with the government adding trillions of dollars to its accumulated debt over the next decade. Today's report, looking out over the next 25 years, projects even greater difficulties beyond 2025.

The federal debt held by the public is already quite high by historical standards at 74 percent of GDP. The budget office projects that if current laws were to remain generally unchanged, by 2040 the debt could reach or even exceed 103 percent of GDP -- harming the economy while still continuing on an upward path.

The CBO issued sobering guidance about the magnitude of the changes that policymakers need to contemplate. Achieving the same level of debt relative to the economy by 2040 as we have now would require a $210 billion cut in spending or increase in revenues -- about $1,450 per person -- every year for 25 years from the levels assumed in current projections.

To reduce the debt to its 50-year average (38 percent of GDP) would require a $480 billion cut in spending or increase in taxes every year.

The CBO report makes clear that an aging population and rising health costs represent the dominant factors driving long-term debt projections. As more baby boomers retire, the government must spend larger and larger sums of money just to provide them with the same level of benefits per person as in the past.

Federal spending on Social Security and the government's major health programs would rise to 14.2 percent of GDP in 2040, more than twice the 6.5 percent average for the past half-century.

Interest payments on the debt would become more and more burdensome for taxpayers, rising to 4.3 percent of GDP in 2040, up from the average of only 2 percent for the past 50 years.

Other federal programs, meanwhile, are being squeezed harder and harder. CBO projects that in 25 years spending on everything other than Social Security, health care and interest would drop to 6.9 percent of GDP, far below the 11.6 percent average for the past 50 years. As The Concord Coalition has warned in the past, plans for such low levels of spending may well prove to be unrealistic and not necessarily desirable as public policy.

"The CBO's long-term outlook makes clear that campaign promises to fight waste, fraud and abuse are insufficient," Bixby said. "Nor can we simply raise taxes on the wealthiest Americans or assume that a burst of economic growth would alone solve the problem. We must take a broader, bipartisan approach to build a brighter future for the country and protect coming generations from massive government debt. Ideally, this effort will include comprehensive tax reform as well as necessitate changes throughout the entire federal budget, not just a few targeted areas."

"First Budget," a non-partisan initiative of The Concord Coalition and the Campaign to Fix the Debt, is working with concerned citizens in Iowa and New Hampshire to encourage the presidential candidates to explain in specific terms how they would deal with the federal debt and related issues such as tax and entitlement reforms.

A copy of this press release can be found here on our website.

The Concord Coalition is a nonpartisan, grassroots organization dedicated to fiscal responsibility. Since 1992, Concord has worked to educate the public about the causes and consequences of the federal deficit and debt, and to develop realistic solutions for sustainable budgets. For more fiscal news and analysis, visit concordcoalition.org and follow us on Twitter: @ConcordC

SOURCE The Concord Coalition

Sempra Energy to Pursue Formation of Sempra Partners, LP

SAN DIEGO, June 16, 2015 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its board of directors has authorized the company to pursue the formation and initial public offering of a publicly traded partnership to be called Sempra Partners, LP, expected to be listed on the New York Stock Exchange under the ticker symbol "SREP."

Sempra Energy has received its Private Letter Ruling from the Internal Revenue Service related to the formation of its master limited partnership (MLP) and would expect to form Sempra Partners as an MLP.  Sempra Partners will own assets and interests producing MLP-qualifying income, including dividends from a corporate subsidiary.  Initially, the MLP is expected to own one or more of the following assets: an interest in a U.S. entity with contracts related to deliveries of liquefied natural gas (LNG) at the Energia Costa Azul regasification facility; interests in certain of Sempra Energy's contracted renewable energy projects; or other assets with attributes attractive for inclusion in Sempra Partners.

Sempra Energy expects to grant Sempra Partners a right of first offer (ROFO) on certain LNG-related infrastructure projects, including Sempra Energy's 50-percent interest in the first three trains of the Cameron natural gas liquefaction terminal and Sempra Energy's 100-percent interest in Cameron Interstate Pipeline, as well as Sempra Energy's interests in certain contracted wind and solar projects.

"Sempra Partners is designed to support continued growth within Sempra Energy's existing strategy of long-term, contracted infrastructure development," said Debra L. Reed, chairman and CEO of Sempra Energy.  "We remain focused on value creation for the Sempra Energy shareholders and we believe Sempra Partners will provide an additional source of competitively priced capital to continue to support this initiative for the long term."

Sempra Energy expects Sempra Partners to file a registration statement with the Securities and Exchange Commission (SEC) in the second half of 2015. Subject to market conditions and further approval of Sempra Energy's board of directors, an offering of common units representing limited-partner interests would follow registration with the SEC.

Upon completion of the initial public offering, Sempra Energy expects to own the general partner of Sempra Partners, all of its incentive distribution rights, a portion of its common units and all of its subordinated units.

Due to limitations imposed by U.S. securities laws, Sempra Energy will not hold a conference call to discuss the content of this news release.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers, solicitations or offers to buy, or any sales of securities, will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (Securities Act). This announcement is being issued in accordance with Rule 135 under the Securities Act.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company.  The Sempra Energy companies' 17,000 employees serve more than 32 million consumers worldwide.

This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements can be identified by words like "believes," "expects," "anticipates," "plans," "estimates,"  "projects," "forecasts," "contemplates," "intends," "depends," "should," "could," "would," "will," "confident," "may," "potential," "possible," "proposed," "target," "pursue," "goals," "outlook," "maintain," "designed" or similar expressions, or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions.  Forward-looking statements are not guarantees of performance.  They involve risks, uncertainties and assumptions.  Future results may differ materially from those expressed in the forward-looking statements.  Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others, that the MLP will not be formed, will not complete an offering of securities, will not raise the planned amount of capital even if an offering of securities is completed, will not contain the assets or have the structure currently proposed, will not complete the proposed actions on the timetable indicated and will not provide the expected benefits to Sempra Energy; local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions and the timing of actions, including actions by regulatory, governmental and environmental bodies in the United States and other countries in which we operate; actions by third parties, including lenders and joint venture partners; the timing and success of business development efforts and construction, maintenance and capital projects, including risks in obtaining, maintaining or extending permits, licenses, certificates and other authorizations on a timely basis and risks in obtaining adequate and competitive financing for such projects; energy markets conditions, including the timing and extent of changes and volatility in commodity prices, and the impact of any protracted reduction in oil prices from historical averages; the impact on the value of our natural gas storage assets from low natural gas prices, low volatility of natural gas prices and the inability to procure favorable long-term contracts for natural gas storage services; capital markets conditions, including the availability of credit and the liquidity of our investments; inflation, interest and currency exchange rates; the impact of benchmark interest rates; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; cybersecurity threats to the energy grid, natural gas storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers, terrorist attacks that threaten system operations and critical infrastructure, and wars; the ability to win competitively bid infrastructure projects against a number of strong competitors willing to aggressively bid for these projects; weather conditions, conservation efforts, natural disasters, catastrophic accidents, and other events that may disrupt our operations, damage our facilities and systems, and subject us to third-party liability for property damage or personal injuries; risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; risks posed by decisions and actions of third parties who control the operations of investments in which we do not have a controlling interest; risks inherent with nuclear power facilities and radioactive materials storage, including the catastrophic release of such materials, the disallowance of the recovery of the investment in, or operating costs of, the nuclear facility due to an extended outage and facility closure, and increased regulatory oversight; business, regulatory, environmental and legal decisions and requirements; expropriation of assets by foreign governments and title and other property disputes; the inability or determination not to enter into long-term supply and sales agreements or long-term firm capacity agreements due to insufficient market interest, unattractive pricing or other factors; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond our control.  These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website at www.sempra.com.

Investors should not rely unduly on any forward-looking statements.  These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise.

Sempra International, LLC, Sempra U.S. Gas & Power, LLC, and Sempra Partners, LP, are not the same companies as the California utilities, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra International, LLC, Sempra U.S. Gas & Power, LLC, and Sempra Partners, LP, are not regulated by the California Public Utilities Commission. Sempra International's underlying entities include Sempra Mexico and Sempra South American Utilities. Sempra U.S. Gas & Power's underlying entities include Sempra Renewables and Sempra Natural Gas.

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Arena Pharmaceuticals Announces the Departure of Chief Financial Officer

SAN DIEGO, June 16, 2015 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) announced today that Robert E. Hoffman, Senior Vice President, Finance and Chief Financial Officer, has decided to leave the company after nearly 18 years of service to pursue another opportunity in the biotechnology industry. Mr. Hoffman is expected to remain in his current role at Arena until July 10, 2015.

-- Robert E. Hoffman to leave Arena after nearly 18 years of service --

"Robert has been a valuable member of our management team and, on behalf of myself and the company, I thank him for his years of leadership and service to Arena," said Jack Lief, Arena's President and Chief Executive Officer. "We wish Robert the best in his future endeavors, and are focused on ensuring a smooth transition amid his departure."

"I will always reflect fondly on my time at Arena, which included the approval of our first commercial product, BELVIQ® (lorcaserin HCl)," said Mr. Hoffman. "It has been my pleasure to have had the experience to work with such a talented and professional team."

Following Mr. Hoffman's departure, Jennifer K. Bielasz, Arena's Vice President, Accounting and Controller, will continue to play a key leadership role in Arena's finance department. Ms. Bielasz joined Arena in 2001 and is responsible for managing all accounting activities. Prior to joining Arena, Ms. Bielasz served as the controller of both public and private companies and began her career at KPMG LLP.

About Arena Pharmaceuticals

Arena is embracing the challenge of improving health by seeking to bring innovative medicines targeting G protein-coupled receptors to patients. Arena's focus is discovering, developing and commercializing drugs to address unmet medical needs, and BELVIQ®(lorcaserin HCl) is Arena's first internally discovered drug approved for marketing. Arena's US operations are located in San Diego, California, and its operations outside of the United States, including its commercial manufacturing facility, are located in Zofingen,Switzerland. For more information, visit Arena's website at www.arenapharm.com.

Arena Pharmaceuticals® and Arena® are registered service marks of Arena Pharmaceuticals, Inc. BELVIQ® is a registered trademark of Arena Pharmaceuticals GmbH.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about the timing of Mr. Hoffman's departure from Arena, the transition related to his departure and the continuing role of Ms. Bielasz; embracing the challenge of improving health; seeking to bring innovative medicines to patients; and Arena's focus, plans, goals, strategy, expectations, research and development programs, and ability to discover and develop compounds and commercialize drugs. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the following: risks related to commercializing drugs, including regulatory, manufacturing, supply and marketing issues and the availability and use of BELVIQ or lorcaserin; cash and revenues generated from BELVIQ, including the impact of competition; the risk that Arena's revenues are based in part on estimates, judgment and accounting policies, and incorrect estimates or disagreement regarding estimates or accounting policies may result in changes to Arena's guidance or previously reported results; the timing and outcome of regulatory review is uncertain, and lorcaserin may not be approved for marketing in combination with another drug, for another indication or using a different formulation or in any other territory for any indication; regulatory decisions in one territory may impact other regulatory decisions and Arena's business prospects; government and commercial reimbursement and pricing decisions; risks related to relying on collaborative arrangements; the timing and receipt of payments and fees, if any, from collaborators; the entry into or modification or termination of collaborative arrangements; unexpected or unfavorable new data; nonclinical and clinical data is voluminous and detailed, and regulatory agencies may interpret or weigh the importance of data differently and reach different conclusions than Arena or others, request additional information, have additional recommendations or change their guidance or requirements before or after approval; data and other information related to any of Arena's research and development may not meet regulatory requirements or otherwise be sufficient for (or Arena or a collaborator may not pursue) further research and development, regulatory review or approval or continued marketing; Arena's and third parties' intellectual property rights; the timing, success and cost of Arena's research and development; results of clinical trials and other studies are subject to different interpretations and may not be predictive of future results; clinical trials and other studies may not proceed at the time or in the manner expected or at all; having adequate funds; and satisfactory resolution of litigation or other disagreements with others. Additional factors that could cause actual results to differ materially from those stated or implied by Arena's forward-looking statements are disclosed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

Contact: Arena Pharmaceuticals, Inc.	Media Contact: Russo Partners
Craig M. Audet, Ph.D., Senior Vice President, Operations & Head of Global Regulatory Affairs caudet@arenapharm.com 858.453.7200, ext. 1612	David Schull, President david.schull@russopartnersllc.com 858.717.2310
www.arenapharm.com

SOURCE Arena Pharmaceuticals, Inc.