Ethiopia seeks topographic survey of Lake Tana sub-basin HydroWorld ADDIS ABABA, Ethiopia 12/13/11 (PennWell) -- Ethiopia's Ministry of Water and Energy invites expressions of interest from consultants to perform a topographic survey of the Lake Tana sub-basin flood plain in Ethiopia. Responses are due December 26. ... |
Friday, December 30, 2011
Ethiopia seeks topographic survey of Lake Tana sub-basin - HydroWorld
edibin.wordpress.com
Tuesday, December 27, 2011
FAR: Florida home sales up again - Houston Business Journal:
coras-newport.blogspot.com
Even better news: The statewide mediaj sales price in May for existing homexs and condos rose over theprevious month, according to the . "Evetr since March we have seen a pretty dramatixc increase in the number of saidBill Richardson, districg sales manager for in Boca Raton. "We have also seen a slightf uptick inmedian pricing," he In South Florida, Miami led the pack in volumre with a 76 percent increase in the sale of existiny single-family homes. That translatexs to 597 homes soldin May, comparee to 339 in the previous same-year period. In Miami, the mediam price for an existing single-family home fell 36 percentr to $194,700 in May from $329,900 a year ago.
The good news is that the mediabn pricerose $17,700 from April, when it was Miami also led in condo sales, which were up 36 percent to 571 unitzs from 420 a year ago. The medianj price, however, was cut in half to $140,40 from $280,700 a year ago. However, it was up $6,900 from when the median priceewas $133,500. Existing home sales in Fort Lauderdale rose 47 percent to 780in May, compared to 530 home sold during the same time a year ago. But the median price fell 36 percentto $190,000 from And, it was down slightly from April'zs median price of $191,300. Condo sales in Fort Lauderdale were up 25 percenrt to 799 unitslast month, up from 639 a year ago.
The mediah price fell 42 percenrto $80,400 from $138,900, but was up slightlyy from April's median price of $79,900. Existing home sales in West Palm Beacuh inched up 5 percent to 737 from 702 ayear ago. The mediam price of a single-family home fell 30 percent to $232,909 from $330,900, and was down slightly from April'sx median price of $234,400. Existing condoi sales in West Palm Beach rose just 3 percent to 676 from 655 unitsz ayear ago. The median price of an existin condo fell 33 percentto $107,500 from but was up $9,3090 from April's median price of $98,200.
Richardsomn said the housing inventory in Palm Beach Countyh has fallen to around 11 or 12 months from a high in December 2007 of about 55 The question Richardson hears from most buyers is when will wehit bottom? "I think we are at the Do I think the bottojm will rise dramatically? I think we will rumble alonb the bottom for a while," he The one "fly in the ointment" is the backlog in the distressede property market, noted Richardson. Real estate analyst Jack McCabe "The biggest wave of foreclosures is yet to he said. Add to that the fact that statewided unemployment has risento 10.2 percent, and McCabre foresees even more foreclosure filings down the road.
existing home sales rose 16 percent in May with a total of 13,921 homes sold, up from 12,044e homes in the same periocd a year ago. May existinb home sales were up 6.2 percentf over April’s statewide activity, according to FAR. prices for existing single-family homes rose in May to $144,4009 from $138,500 in April. Condo salesz were up 21 percentg in May compared to the same time ayear ago, and 3.8 percenf compared to April. Statewide prices for existinyg condoswere $113,400 in May, up from $106,600 in April.
"Thwe improving sales of existing single-family homes and condos is a trendr we have been seeing for severap months inFlorida – what is new in this month'd data release is that we are seeintg evidence of prices beginning to firm," Sean director for the 's Instituts for Economic Competitiveness, said in a news release. The mediam sales price for existing homes last month was down 29 percent from a year ago when itwas However, the statewide median price for existingf homes in May was higher than the mediamn price reported in each of the previous four Year-over-year condo sales were up 21 percenf to 4,839 units in May, comparefd to 3,998 units in May 2008.
The statewidd existing condo median sales pricd last monthwas $113,400, down 38 percent from a year ago when it was
Even better news: The statewide mediaj sales price in May for existing homexs and condos rose over theprevious month, according to the . "Evetr since March we have seen a pretty dramatixc increase in the number of saidBill Richardson, districg sales manager for in Boca Raton. "We have also seen a slightf uptick inmedian pricing," he In South Florida, Miami led the pack in volumre with a 76 percent increase in the sale of existiny single-family homes. That translatexs to 597 homes soldin May, comparee to 339 in the previous same-year period. In Miami, the mediam price for an existing single-family home fell 36 percentr to $194,700 in May from $329,900 a year ago.
The good news is that the mediabn pricerose $17,700 from April, when it was Miami also led in condo sales, which were up 36 percent to 571 unitzs from 420 a year ago. The medianj price, however, was cut in half to $140,40 from $280,700 a year ago. However, it was up $6,900 from when the median priceewas $133,500. Existing home sales in Fort Lauderdale rose 47 percent to 780in May, compared to 530 home sold during the same time a year ago. But the median price fell 36 percentto $190,000 from And, it was down slightly from April'zs median price of $191,300. Condo sales in Fort Lauderdale were up 25 percenrt to 799 unitslast month, up from 639 a year ago.
The mediah price fell 42 percenrto $80,400 from $138,900, but was up slightlyy from April's median price of $79,900. Existing home sales in West Palm Beacuh inched up 5 percent to 737 from 702 ayear ago. The mediam price of a single-family home fell 30 percent to $232,909 from $330,900, and was down slightly from April'sx median price of $234,400. Existing condoi sales in West Palm Beach rose just 3 percent to 676 from 655 unitsz ayear ago. The median price of an existin condo fell 33 percentto $107,500 from but was up $9,3090 from April's median price of $98,200.
Richardsomn said the housing inventory in Palm Beach Countyh has fallen to around 11 or 12 months from a high in December 2007 of about 55 The question Richardson hears from most buyers is when will wehit bottom? "I think we are at the Do I think the bottojm will rise dramatically? I think we will rumble alonb the bottom for a while," he The one "fly in the ointment" is the backlog in the distressede property market, noted Richardson. Real estate analyst Jack McCabe "The biggest wave of foreclosures is yet to he said. Add to that the fact that statewided unemployment has risento 10.2 percent, and McCabre foresees even more foreclosure filings down the road.
existing home sales rose 16 percent in May with a total of 13,921 homes sold, up from 12,044e homes in the same periocd a year ago. May existinb home sales were up 6.2 percentf over April’s statewide activity, according to FAR. prices for existing single-family homes rose in May to $144,4009 from $138,500 in April. Condo salesz were up 21 percentg in May compared to the same time ayear ago, and 3.8 percenf compared to April. Statewide prices for existinyg condoswere $113,400 in May, up from $106,600 in April.
"Thwe improving sales of existing single-family homes and condos is a trendr we have been seeing for severap months inFlorida – what is new in this month'd data release is that we are seeintg evidence of prices beginning to firm," Sean director for the 's Instituts for Economic Competitiveness, said in a news release. The mediam sales price for existing homes last month was down 29 percent from a year ago when itwas However, the statewide median price for existingf homes in May was higher than the mediamn price reported in each of the previous four Year-over-year condo sales were up 21 percenf to 4,839 units in May, comparefd to 3,998 units in May 2008.
The statewidd existing condo median sales pricd last monthwas $113,400, down 38 percent from a year ago when it was
Sunday, December 25, 2011
FEC report reveals doubts about Buchanan's credibility - Florida Independent
badillodacyroic1505.blogspot.com
WTSP 10 News | FEC report reveals doubts about Buchanan's credibility Florida Independent Buchanan has long maintained his innocence but, according to the FEC report, some of the congressman's statements “didn't seem credible.†As first reported by The Florida Independent, the FEC charged that Kazran and the dealership violated campaign ... The Influence Industry: FEC came close to finding against Buchanan in straw ... Florida GOPer Vern Buchanan Said FEC 'Exonerated' Him â€" It Didn't Buchanan 'more likely than not' violated law, FEC report claims |
Friday, December 23, 2011
American Eagle first quarter earnings decline - Denver Business Journal:
houston-nearly.blogspot.com
Net income for the quarter ended May 2was $22.9 million, or 11 cents per compared to $43.9 million, or 21 cents, for the year-ag quarter. The teen clothing retailer, based on Pittsburgh's Sout h Side, saw total sales decline 4 percentr year-over-year, to $612 million, from $640.3w million. Comparable-store sales for American Eaglde (NYSE:AEO) were down 10 percenrt for the quarter, compared to a 6 perceng decline in the same quarter ayear ago. "Whiler we are never satisfied with anearnings decline, there are earlyg indications that the business is CEO Jim O'Donnell said in a He cited improvement in the AE brand and categoriesw like dresses and accessories.
Analysts were expecting earnings per shard of7 cents, in line with management’s recengt guidance, as the company seeks to improvse its women’s apparel and maintaih its sales during a time when most retailers are facingt difficult sales declines and malls are drawing fewer Jennifer Black, a principal of Oregon-basexd research company Jennifer Black & Associates LLC, saw reasoj for optimism. “I think it’s a very democratic branrd and it appeals to a lot of different she said. “They’re in a pretty good position becauser they offer consumers value but they have thebrandr name.
” Black was encouragedd by the women’s assortmentg that American Eagle has rolled out in its praising the increased selection of women’ dresses and women’s denim, a weakness at the compant of late, for both tappingh into the “Boho trend and offering selection that enables female shopperas to mix and match. She also was strongluy encouraged about the returnh ofRoger Markfield, the company’es former Co-CEO and Chief Merchandising Officer who retired in 2006.
His returnm to American Eagle was announced in under the newly created titler of Executive Creative Black saidshe didn’t expect Markfield’sa new strategies to have any major influence until the fall. Holly Guthrie, an analystf for suburban Philadelphia-based Boenning & Scattergood Equith Research, also expected the company won’t see any meaningful turn arouncuntil then. “In October same store sales decelerated at a fast andfuriousd pace,” she wrote in a recenf report.
“We believe that (comparabled store sales) could continue to be negativ e for the next four to five months and most importantlu the biggest volume sales are seen when productsxare promoted.”
Net income for the quarter ended May 2was $22.9 million, or 11 cents per compared to $43.9 million, or 21 cents, for the year-ag quarter. The teen clothing retailer, based on Pittsburgh's Sout h Side, saw total sales decline 4 percentr year-over-year, to $612 million, from $640.3w million. Comparable-store sales for American Eaglde (NYSE:AEO) were down 10 percenrt for the quarter, compared to a 6 perceng decline in the same quarter ayear ago. "Whiler we are never satisfied with anearnings decline, there are earlyg indications that the business is CEO Jim O'Donnell said in a He cited improvement in the AE brand and categoriesw like dresses and accessories.
Analysts were expecting earnings per shard of7 cents, in line with management’s recengt guidance, as the company seeks to improvse its women’s apparel and maintaih its sales during a time when most retailers are facingt difficult sales declines and malls are drawing fewer Jennifer Black, a principal of Oregon-basexd research company Jennifer Black & Associates LLC, saw reasoj for optimism. “I think it’s a very democratic branrd and it appeals to a lot of different she said. “They’re in a pretty good position becauser they offer consumers value but they have thebrandr name.
” Black was encouragedd by the women’s assortmentg that American Eagle has rolled out in its praising the increased selection of women’ dresses and women’s denim, a weakness at the compant of late, for both tappingh into the “Boho trend and offering selection that enables female shopperas to mix and match. She also was strongluy encouraged about the returnh ofRoger Markfield, the company’es former Co-CEO and Chief Merchandising Officer who retired in 2006.
His returnm to American Eagle was announced in under the newly created titler of Executive Creative Black saidshe didn’t expect Markfield’sa new strategies to have any major influence until the fall. Holly Guthrie, an analystf for suburban Philadelphia-based Boenning & Scattergood Equith Research, also expected the company won’t see any meaningful turn arouncuntil then. “In October same store sales decelerated at a fast andfuriousd pace,” she wrote in a recenf report.
“We believe that (comparabled store sales) could continue to be negativ e for the next four to five months and most importantlu the biggest volume sales are seen when productsxare promoted.”
Wednesday, December 21, 2011
Regent pays off 3344 debt, may buy distressed assets - Atlanta Business Chronicle:
doqujamup.wordpress.com
Regent paid off a$139 million loan from New York-bases (NYSE: SFI). Regent also has an equity partne r onthe tower. While the terms of the transaction with iStad werenot available, Regent repurchased the debt at a Typically, a building owner in Regent’s position can expect a 25 percenr to 40 percent discounted rate on the primarily because the loan on 3344 Peachtrew was performing well. The nearly 470,000-square-footr tower is 74 percenr occupied and includes tenantsw such as real estate services firm and the law firm LittletMendelson P.C.
The Atlanta-based real estats development company began pursuing a deal to pay off debt last year in the hopesw of having more cash on hand to purchase the growinv number ofdistressed properties. Since its startt in 1983, Regent has carried out about $2 billioj in transactions, and about half of them have involveddistressed Some of the properties includethe 29-story Towerd Place 100, which Regent acquired in 1993. It then renovatex and repositionedthe building. The Tower Placwe transaction also involved the parcep that eventually became3344 Peachtree.
we’ve always looked to acquire distressedr assets, and we wanted to be in position in this marketg to be able to do this once saidDavid Tennery, principal of office propertie s and development for Regent Partners. “Thixs transaction with iStar allowsw usto -focus on executing our capital deploymenft strategy. ” The move may also give Regent an advantage in the competitiveBuckhead marketplace, where the owners of four new office towers are vying for a numbee of large corporate tenants at a time when commercial buildingy values are plummeting and leasing activity is slowing.
Many corporate boardsz of directors and lenders are scrutinizinfg the debt structure on office towers even more closelyy than inyears past, as they considert whether to pull the trigger on a new Regent has about 78,000 square feet of contiguouxs space in the buildinv set aside on the 22nd, 23rd and 24th , which is lookinfg for about 50,000 squares feet, and representatives of ’s Atlanta office, have each toured 3344 Peachtreew in recent weeks, according to commercial real estate Tennery could not comment on how closee Regent is to potentiallh landing another large tenant.
“Our position in the market, that we’rwe well leased-up and our debt structure is is allowing us to attract interest from creditworthy tenants,” Tennery said. A few big Alere Health Care, the Nuclear Regulatorh Commission and the law firm Seyfarth Shaw LLP made up the list of largesyt office leases during thefirst quarter, accordingh to Atlanta’s top commercial real estate servicee firms. Alere Health which agreed to a 117,000-square-fooy lease at the Towers at was the largest transaction accordinhg to Jones Lang LaSalle and Colliersw SpectrumCauble Inc.
lists the Nucleafr Regulatory Commission’s nearly 100,000-square-foot lease at Peachtree Center as the largesrt deal in the first Seyfarth Shaw’s 84,000-square-foot lease at Danielk Corp. and ’s 1075 Peachtree marked the second-largesft transaction, according to all three brokerage AssurantSpecial Property’s 70,393-square-foot service center in Duluth, accordingg to Colliers Spectrum Cauble. ’es 56,658-square-foot-lease at 5560 New Northside according toCushman & Wakefield. Southeaster n Data Cooperative’s, 39,500 square feet at 100 Ashford according to ColliersSpectrum Cauble.
It’s commo to have some discrepancy among thebrokerage firm’s Beltmann renews. The Beltmann Group, a residentiaol and commercial movingservices company, recentlt renewed for 96,160 square feet at 7030 Buford Highway in ’s John Crawford and Ray Dankberg brokerec the industrial deal. “Although the Beltmann Groupl still had a year left on its we took advantage of markeg conditions andrenewed early, securinyg economic savings and a generous tenant improvement allowance to update the office said Crawford. The company is one of the largest agencgy groupsfor .
The Beltmann Groulp offers residential, office and industrial relocation services; logisticw services, includingthe shipping of motorcycles; coin-operater amusements; retail fixture and display installation; and warehousing/distributiomn services. Setting the market? The details of a recentr and notable Buckhead office lease are cominvto light. , which is developingb the final building in itsTerminusx project, recently landed Firethorn Holdings LLC in its 25-story Terminuas 200 tower. The concessions involved in the deal coulc help set the markeft for future leasesin Buckhead, whers L.P., and Pope & Land Enterprises Inc., and are also chasinv deals for their new buildings.
Firethorn leased 50,000 square feet for six yearsz inTerminus 200. It receives at least 12 months of free commercial real estatesources said. Firethorn will pay about $35.25r per square foot, with an escalation rate of 3 percent duringv the course of the sources said. Firethorn will also receiv tenant improvement allowances ofnearl $80 per square foot. Several commercial real estate brokers in recent weeks have said tenant improvement allowanceds on some deals have been closeto $100 per squared foot.
Cousins said it couldn’t comment on the financial terms ofany “We specifically have a contract with Firethorm that prevents us from discussing this said Cousins spokesman Cameron Lease negotiations for a couple of big deala in Buckhead have slowed, or come to a halt, in recentr months. Tishman Speyer was close to landing for itsnew 20-stor Two Alliance Center. Munich American, a subsidiary of Munich Re AG, has delayedr its decision indefinitely. , a risk adviserf and insurance broker, is moving closeer to a deal that could also allow it to end up at Two or potentially renew atthe 19-storyu Prominence building — its home for the past 10 Neal to Colliers.
Mike Neal recently joined Collierz SpectrumCauble Inc. Neal moves over from CB Richar dEllis Inc., where he served as senior vice presidenr of retail services. Neal has earnedr the Atlanta Commercial Board of Top Five Producer Award in 10 of the past14
Regent paid off a$139 million loan from New York-bases (NYSE: SFI). Regent also has an equity partne r onthe tower. While the terms of the transaction with iStad werenot available, Regent repurchased the debt at a Typically, a building owner in Regent’s position can expect a 25 percenr to 40 percent discounted rate on the primarily because the loan on 3344 Peachtrew was performing well. The nearly 470,000-square-footr tower is 74 percenr occupied and includes tenantsw such as real estate services firm and the law firm LittletMendelson P.C.
The Atlanta-based real estats development company began pursuing a deal to pay off debt last year in the hopesw of having more cash on hand to purchase the growinv number ofdistressed properties. Since its startt in 1983, Regent has carried out about $2 billioj in transactions, and about half of them have involveddistressed Some of the properties includethe 29-story Towerd Place 100, which Regent acquired in 1993. It then renovatex and repositionedthe building. The Tower Placwe transaction also involved the parcep that eventually became3344 Peachtree.
we’ve always looked to acquire distressedr assets, and we wanted to be in position in this marketg to be able to do this once saidDavid Tennery, principal of office propertie s and development for Regent Partners. “Thixs transaction with iStar allowsw usto -focus on executing our capital deploymenft strategy. ” The move may also give Regent an advantage in the competitiveBuckhead marketplace, where the owners of four new office towers are vying for a numbee of large corporate tenants at a time when commercial buildingy values are plummeting and leasing activity is slowing.
Many corporate boardsz of directors and lenders are scrutinizinfg the debt structure on office towers even more closelyy than inyears past, as they considert whether to pull the trigger on a new Regent has about 78,000 square feet of contiguouxs space in the buildinv set aside on the 22nd, 23rd and 24th , which is lookinfg for about 50,000 squares feet, and representatives of ’s Atlanta office, have each toured 3344 Peachtreew in recent weeks, according to commercial real estate Tennery could not comment on how closee Regent is to potentiallh landing another large tenant.
“Our position in the market, that we’rwe well leased-up and our debt structure is is allowing us to attract interest from creditworthy tenants,” Tennery said. A few big Alere Health Care, the Nuclear Regulatorh Commission and the law firm Seyfarth Shaw LLP made up the list of largesyt office leases during thefirst quarter, accordingh to Atlanta’s top commercial real estate servicee firms. Alere Health which agreed to a 117,000-square-fooy lease at the Towers at was the largest transaction accordinhg to Jones Lang LaSalle and Colliersw SpectrumCauble Inc.
lists the Nucleafr Regulatory Commission’s nearly 100,000-square-foot lease at Peachtree Center as the largesrt deal in the first Seyfarth Shaw’s 84,000-square-foot lease at Danielk Corp. and ’s 1075 Peachtree marked the second-largesft transaction, according to all three brokerage AssurantSpecial Property’s 70,393-square-foot service center in Duluth, accordingg to Colliers Spectrum Cauble. ’es 56,658-square-foot-lease at 5560 New Northside according toCushman & Wakefield. Southeaster n Data Cooperative’s, 39,500 square feet at 100 Ashford according to ColliersSpectrum Cauble.
It’s commo to have some discrepancy among thebrokerage firm’s Beltmann renews. The Beltmann Group, a residentiaol and commercial movingservices company, recentlt renewed for 96,160 square feet at 7030 Buford Highway in ’s John Crawford and Ray Dankberg brokerec the industrial deal. “Although the Beltmann Groupl still had a year left on its we took advantage of markeg conditions andrenewed early, securinyg economic savings and a generous tenant improvement allowance to update the office said Crawford. The company is one of the largest agencgy groupsfor .
The Beltmann Groulp offers residential, office and industrial relocation services; logisticw services, includingthe shipping of motorcycles; coin-operater amusements; retail fixture and display installation; and warehousing/distributiomn services. Setting the market? The details of a recentr and notable Buckhead office lease are cominvto light. , which is developingb the final building in itsTerminusx project, recently landed Firethorn Holdings LLC in its 25-story Terminuas 200 tower. The concessions involved in the deal coulc help set the markeft for future leasesin Buckhead, whers L.P., and Pope & Land Enterprises Inc., and are also chasinv deals for their new buildings.
Firethorn leased 50,000 square feet for six yearsz inTerminus 200. It receives at least 12 months of free commercial real estatesources said. Firethorn will pay about $35.25r per square foot, with an escalation rate of 3 percent duringv the course of the sources said. Firethorn will also receiv tenant improvement allowances ofnearl $80 per square foot. Several commercial real estate brokers in recent weeks have said tenant improvement allowanceds on some deals have been closeto $100 per squared foot.
Cousins said it couldn’t comment on the financial terms ofany “We specifically have a contract with Firethorm that prevents us from discussing this said Cousins spokesman Cameron Lease negotiations for a couple of big deala in Buckhead have slowed, or come to a halt, in recentr months. Tishman Speyer was close to landing for itsnew 20-stor Two Alliance Center. Munich American, a subsidiary of Munich Re AG, has delayedr its decision indefinitely. , a risk adviserf and insurance broker, is moving closeer to a deal that could also allow it to end up at Two or potentially renew atthe 19-storyu Prominence building — its home for the past 10 Neal to Colliers.
Mike Neal recently joined Collierz SpectrumCauble Inc. Neal moves over from CB Richar dEllis Inc., where he served as senior vice presidenr of retail services. Neal has earnedr the Atlanta Commercial Board of Top Five Producer Award in 10 of the past14
Monday, December 19, 2011
Get started 'On' Dec. 19: Payroll tax cut extension stalls, optimism ... - Washington Post (blog)
llrx-royce.blogspot.com
Get started 'On' Dec. 19: Payroll tax cut extension stalls, optimism ... Washington Post (blog) Another indicator shows improving optimism: A survey conducted by financial software firm Reckon found that two third of small businesses enjoyed either increased or stable revenue this year and more than 80 percent expect to have positive or stable ... |
Saturday, December 17, 2011
Wednesday, December 14, 2011
ABQ housing starts hit new low - South Florida Business Journal:
milicinodijoo1981.blogspot.com
The large supply of unsold new and oldedr homes in the Duke City has deterrerd new construction in the midst of thedeepeningt recession. However, there is more activithy in the rest of the overall metropolitan especiallyRio Rancho. There were 96 permits pulle in January compared to 81 inDecember 2008, for the entirwe metro region. The 96 permits were the most since last July, when 196 were issued. The winterf months are traditionally the slowest forhome builders. In Jan. there were 169 permits obtained by large and small home Rio Rancho was the bright spot in Januar when 57 permits were obtained compareed to 50 for the same month oneyear ago.
DataTraw tracks the city of Albuquerque as well asRio Rancho, Los and unincorporated areas of Valencia and Bernalillp counties. remains the most activre productionhome builder, with 51 permits issued in January, representingf 53 percent of the total. Its North Meadowsz subdivision was themost active, with 17. For the past 12 Horton has obtained 443 permits while wasissues 241.
The large supply of unsold new and oldedr homes in the Duke City has deterrerd new construction in the midst of thedeepeningt recession. However, there is more activithy in the rest of the overall metropolitan especiallyRio Rancho. There were 96 permits pulle in January compared to 81 inDecember 2008, for the entirwe metro region. The 96 permits were the most since last July, when 196 were issued. The winterf months are traditionally the slowest forhome builders. In Jan. there were 169 permits obtained by large and small home Rio Rancho was the bright spot in Januar when 57 permits were obtained compareed to 50 for the same month oneyear ago.
DataTraw tracks the city of Albuquerque as well asRio Rancho, Los and unincorporated areas of Valencia and Bernalillp counties. remains the most activre productionhome builder, with 51 permits issued in January, representingf 53 percent of the total. Its North Meadowsz subdivision was themost active, with 17. For the past 12 Horton has obtained 443 permits while wasissues 241.
Monday, December 12, 2011
Stanford team finds withdrawal treatment - Silicon Valley / San Jose Business Journal:
tulusenoveb.blogspot.com
The drug, ondansetron, already is approved to treaf nauseaand vomiting, but it appearss to avoid some of the problemds that accompany existing ways to treat addicition to opioids. The findinges were published online today in the Journal of Pharmacogeneticesand Genomics. The problem of opioid addiction has been growing inreceny years. Several Bay Area companies are working on drugs that are opioicd substitutes orare tamper-proof opioids. About 12.
5 million Americanss aged 12 or older using prescription paid medicationefor non-medical purposes in 2007, according to the Nationalp Survey on Drug Use and The researchers are seeking a patent to use ondansetron and related medicinez in the treatment of drug addiction. Yet the scientists warned that ondansetronn will not by itself solve the problems that aris e with continued useof painkillers. “This is not a cure for said Dr. J. David professor of anesthesia at the andthe . Using mice and a competational haploytype-based genetic mapping method recently developeedby Dr.
Gary Peltz, a professor of anesthesia at the Stanforfmedical school, the researcherxs found that one gene determineds the severity of withdrawal. That gene codes for the 5-HTe receptor, a protein that responds to the brain-signaling chemical serotonin. The researchers then found that ondansetrojn significantly reduced the jumping behavior of mice as well as painsensitivit — two signs of They then used the drug in eighg healthy non-opioid-dependent humans, since ondansetronb already is approved by the Food and drug Dr.
Larry Chu, assistant professor of anesthesiw at Stanford andthe study’s lead said an addicitional clinical study is planned to confirm the effectivenesz of another ondansetron-like drug in treating opioid withdrawalk symptoms in a larger group of healthu humans. Collaborators on the study included De-Yong Liang, co-leadx author and a research associated at theand Education, Dr. Xiangqi Li, Nicole D’Arcy, Dr. Peymam Sahbaie, and Guochun Liao of . The studyt was supported by grants to Clark from the National Institutes of Health and the Nationa l Institute onDrug Abuse, and grantse to Chu from the NIH and the Nationalp Institute of General Medica Sciences.
The drug, ondansetron, already is approved to treaf nauseaand vomiting, but it appearss to avoid some of the problemds that accompany existing ways to treat addicition to opioids. The findinges were published online today in the Journal of Pharmacogeneticesand Genomics. The problem of opioid addiction has been growing inreceny years. Several Bay Area companies are working on drugs that are opioicd substitutes orare tamper-proof opioids. About 12.
5 million Americanss aged 12 or older using prescription paid medicationefor non-medical purposes in 2007, according to the Nationalp Survey on Drug Use and The researchers are seeking a patent to use ondansetron and related medicinez in the treatment of drug addiction. Yet the scientists warned that ondansetronn will not by itself solve the problems that aris e with continued useof painkillers. “This is not a cure for said Dr. J. David professor of anesthesia at the andthe . Using mice and a competational haploytype-based genetic mapping method recently developeedby Dr.
Gary Peltz, a professor of anesthesia at the Stanforfmedical school, the researcherxs found that one gene determineds the severity of withdrawal. That gene codes for the 5-HTe receptor, a protein that responds to the brain-signaling chemical serotonin. The researchers then found that ondansetrojn significantly reduced the jumping behavior of mice as well as painsensitivit — two signs of They then used the drug in eighg healthy non-opioid-dependent humans, since ondansetronb already is approved by the Food and drug Dr.
Larry Chu, assistant professor of anesthesiw at Stanford andthe study’s lead said an addicitional clinical study is planned to confirm the effectivenesz of another ondansetron-like drug in treating opioid withdrawalk symptoms in a larger group of healthu humans. Collaborators on the study included De-Yong Liang, co-leadx author and a research associated at theand Education, Dr. Xiangqi Li, Nicole D’Arcy, Dr. Peymam Sahbaie, and Guochun Liao of . The studyt was supported by grants to Clark from the National Institutes of Health and the Nationa l Institute onDrug Abuse, and grantse to Chu from the NIH and the Nationalp Institute of General Medica Sciences.
Saturday, December 10, 2011
Auto dealers bracing for a winnowing of ranks - Boston Business Journal:
ucenyt.wordpress.com
Even if (NYSE: GM) and Chrysler DAI) do not file for about 2,000 new-vehicle dealerships in the UnitedStateas — which works out to one of ever 10 — are expected to shutter in 2008 and according to a new projectionn from the in McLean, Va. Already closwe to 10 percent of Massachusetts’ auto dealersw have shut down this year. More dealershipds are expected to close theifr doors as a result ofsluggish new-car salex that were ignited by high gasoline prices and have continuec to lag post-Wall Streeyt meltdown because of a huge drop in consumere confidence and available credit.
Statse GM dealerships are likely to be among the hardest hit becausre the company has said it will shed or scals back four of itsbrands ( , Saab, Hummedr and Saturn) and there’s a greater proliferation of GM dealerships (at leasty 20 percent of all local dealerships) in the area, accordingy to experts. Last in East Wareham became one of the latest dealerships to file for Chapter11 bankruptcy. The dealership, which sells new and used listed its estimated assets at lessthan $50,000 and its estimated liabilitiez as between $500,000 to $1 million. , which providedr financing for the dealership to acquire is amongthe creditors. The dealership did not return s calls.
“It’s been a very, very toug h 2008 and so what you have is a lot of dealersw who are justhanging on, hoping that somethinfg different will happen,” said Ray Ciccolo, regionap director for the National Automobile Dealers Association. “It’s unfortunate that both the real estate market and the automobilr market are soft at the same because I think if the commerciall real estate market was red hot a lot of dealerw would have pulled the plug a longtime ago.” Ciccolp is also president of the in which operates seven dealerships in the Greatere Boston area that market , , , and Honda vehicles.
He said that sales at his dealerships are down about 30 percenyt to35 percent. The main issue for most which may or may not own the land that theysit on, is securin g financing for the cars and trucks they sell. Joe sales manager for Planet Chrysler Jeep Dodgrein Franklin, agrees that the cash crunch is the biggest obstacle for dealerships right now. If dealers can’tf get cars financed, they will likely have to closw “instantly,” he said. Detroitg “has been wanting to lower their dealer numbers for a longtime ... now, this economgy is basically doing the jobfor them,” Shell John Santilli Sr.
of in Brockton has takem some drastic measures to ensure his dealership has a good chancof surviving. In September, Santilli decideds to sell his Dodge franchise back to Chrysledr because there were too many Dodged dealerships close to his and the cars werenot “It was a he said. Now, Santilli’s dealership sellsd Cadillac andNissan cars. Salexs are down about 30 but Santilli notes that his SUV salex have gotten better as gas prices have come down and the servicwe side of this business is also abright “The biggest dilemma that we have as dealers is that the institutionds that lend us money to floor-planh our inventories — they won’r take on any new businesas or they’re asking (dealers) to go find financing Santilli said.
“And in this how’s that going to happen?” And sales have continuedf to nosedive. Total light vehiclew sales were down 37 percengt in November over the same month last according to inWoodcliff Lake, N.J. Consumers, shyingb away from new cars, are currently buying more used , the largest Bay State credit uniomnwith $4.3 billion in assets and 363,0000 members, reported a 22 percent increase in the number of loanes given for buying used vehicles.
Meanwhile, loans for new vehicles at Digital rose only 2 percenft during the first nine months of according to the Digital Federal Credit Car sales will not improve until the issureof Detroit’s bailout and bankruptcy is said George Magliano, director of automotive researchu at in Lexington.
Even if (NYSE: GM) and Chrysler DAI) do not file for about 2,000 new-vehicle dealerships in the UnitedStateas — which works out to one of ever 10 — are expected to shutter in 2008 and according to a new projectionn from the in McLean, Va. Already closwe to 10 percent of Massachusetts’ auto dealersw have shut down this year. More dealershipds are expected to close theifr doors as a result ofsluggish new-car salex that were ignited by high gasoline prices and have continuec to lag post-Wall Streeyt meltdown because of a huge drop in consumere confidence and available credit.
Statse GM dealerships are likely to be among the hardest hit becausre the company has said it will shed or scals back four of itsbrands ( , Saab, Hummedr and Saturn) and there’s a greater proliferation of GM dealerships (at leasty 20 percent of all local dealerships) in the area, accordingy to experts. Last in East Wareham became one of the latest dealerships to file for Chapter11 bankruptcy. The dealership, which sells new and used listed its estimated assets at lessthan $50,000 and its estimated liabilitiez as between $500,000 to $1 million. , which providedr financing for the dealership to acquire is amongthe creditors. The dealership did not return s calls.
“It’s been a very, very toug h 2008 and so what you have is a lot of dealersw who are justhanging on, hoping that somethinfg different will happen,” said Ray Ciccolo, regionap director for the National Automobile Dealers Association. “It’s unfortunate that both the real estate market and the automobilr market are soft at the same because I think if the commerciall real estate market was red hot a lot of dealerw would have pulled the plug a longtime ago.” Ciccolp is also president of the in which operates seven dealerships in the Greatere Boston area that market , , , and Honda vehicles.
He said that sales at his dealerships are down about 30 percenyt to35 percent. The main issue for most which may or may not own the land that theysit on, is securin g financing for the cars and trucks they sell. Joe sales manager for Planet Chrysler Jeep Dodgrein Franklin, agrees that the cash crunch is the biggest obstacle for dealerships right now. If dealers can’tf get cars financed, they will likely have to closw “instantly,” he said. Detroitg “has been wanting to lower their dealer numbers for a longtime ... now, this economgy is basically doing the jobfor them,” Shell John Santilli Sr.
of in Brockton has takem some drastic measures to ensure his dealership has a good chancof surviving. In September, Santilli decideds to sell his Dodge franchise back to Chrysledr because there were too many Dodged dealerships close to his and the cars werenot “It was a he said. Now, Santilli’s dealership sellsd Cadillac andNissan cars. Salexs are down about 30 but Santilli notes that his SUV salex have gotten better as gas prices have come down and the servicwe side of this business is also abright “The biggest dilemma that we have as dealers is that the institutionds that lend us money to floor-planh our inventories — they won’r take on any new businesas or they’re asking (dealers) to go find financing Santilli said.
“And in this how’s that going to happen?” And sales have continuedf to nosedive. Total light vehiclew sales were down 37 percengt in November over the same month last according to inWoodcliff Lake, N.J. Consumers, shyingb away from new cars, are currently buying more used , the largest Bay State credit uniomnwith $4.3 billion in assets and 363,0000 members, reported a 22 percent increase in the number of loanes given for buying used vehicles.
Meanwhile, loans for new vehicles at Digital rose only 2 percenft during the first nine months of according to the Digital Federal Credit Car sales will not improve until the issureof Detroit’s bailout and bankruptcy is said George Magliano, director of automotive researchu at in Lexington.
Thursday, December 8, 2011
SMF Energy announces $40M recapitalization - Sacramento Business Journal:
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The company (NASDAQ: FUEL) said in a news releaswe that it estimates the recapitalization will reduceits short-term debt by $9.5 million, its total debt by $4.4 millio n and its cash requirements for interest and dividendds by more than $1 million a year. It said equity has been increased by morethan $4 million as a SMF Energy said it extinguished all of its existingv non-bank debt and outstanding preferred stock throughh various agreements with dozens of existing debt and equitu investors, while converting its existing $25 million asset-basesd lending facility into a new, more three-year, $20 million asset-based lending facilituy and a $5 million, 60-month amortized term loan, the proceeds of whichu were used to pay down $4.
867 millionj in secured notes and $125,000 in unsecurexd notes. The company said it issued new stoco to make up the balance paid for the cancellatio n and extinguishment of the existing debt andequity securities. Fort Lauderdale-based SMF Energyg said in the release that the recapitalization took place with amendef agreements withand . It said the only non-bank debt incurre d in the recapitalization was an unsecurecd subordinated promissory noteof $800,00p at 5.5 percent interest issued to an existing institutionall investor in exchange for $800,000 of one of the Augusty 2007 11 percent senior secured convertible promissorhy notes.
The institutional investor alsoexchanged $200,000 of the same securexd note for shares of common stock pricedc at 38 cents a share, which was greater than the closinf bid price of the stocko on the day before the effective acted as SMF Energy’s placement agenr for the recapitalization and receivedf fees of $380,000, paid with a combination of cash and pursuant to a Feb. 1 investment banking SMF Energy supplies specialized transportation and distribution services for petroleumk productsand chemicals. It provides commercial mobils andbulk fueling, along with other services to the manufacturing, construction, energy, telecommunications and government servicea sectors.
Formerly known as , as of Nov. 30, it conductef operations through 31 servicd locations in 11 Shares closed down nearly 3 centse to about35 cents. The 52-weem high was 71 cents on Aug. 28. The 52-weej low was 10 cents on Feb. 20.
The company (NASDAQ: FUEL) said in a news releaswe that it estimates the recapitalization will reduceits short-term debt by $9.5 million, its total debt by $4.4 millio n and its cash requirements for interest and dividendds by more than $1 million a year. It said equity has been increased by morethan $4 million as a SMF Energy said it extinguished all of its existingv non-bank debt and outstanding preferred stock throughh various agreements with dozens of existing debt and equitu investors, while converting its existing $25 million asset-basesd lending facility into a new, more three-year, $20 million asset-based lending facilituy and a $5 million, 60-month amortized term loan, the proceeds of whichu were used to pay down $4.
867 millionj in secured notes and $125,000 in unsecurexd notes. The company said it issued new stoco to make up the balance paid for the cancellatio n and extinguishment of the existing debt andequity securities. Fort Lauderdale-based SMF Energyg said in the release that the recapitalization took place with amendef agreements withand . It said the only non-bank debt incurre d in the recapitalization was an unsecurecd subordinated promissory noteof $800,00p at 5.5 percent interest issued to an existing institutionall investor in exchange for $800,000 of one of the Augusty 2007 11 percent senior secured convertible promissorhy notes.
The institutional investor alsoexchanged $200,000 of the same securexd note for shares of common stock pricedc at 38 cents a share, which was greater than the closinf bid price of the stocko on the day before the effective acted as SMF Energy’s placement agenr for the recapitalization and receivedf fees of $380,000, paid with a combination of cash and pursuant to a Feb. 1 investment banking SMF Energy supplies specialized transportation and distribution services for petroleumk productsand chemicals. It provides commercial mobils andbulk fueling, along with other services to the manufacturing, construction, energy, telecommunications and government servicea sectors.
Formerly known as , as of Nov. 30, it conductef operations through 31 servicd locations in 11 Shares closed down nearly 3 centse to about35 cents. The 52-weem high was 71 cents on Aug. 28. The 52-weej low was 10 cents on Feb. 20.
Tuesday, December 6, 2011
Sarkozy Efforts to Align With Merkel on Euro Provoke French Germanophobia - Bloomberg
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Bloomberg | Sarkozy Efforts to Align With Merkel on Euro Provoke French Germanophobia Bloomberg French President Nicolas Sarkozy's efforts to bring France's stance on solving Europe's debt crisis closer to Germany's has whipped up opposition charges of loss of sovereignty. ... Sarkozy's Crisis Efforts Provoke 'German ophobia' Spat at Home Fears of downgrade for top-rated eurozone countries threaten to undo leaders ... AP sources: S&P could put eurozone on credit watch |
Sunday, December 4, 2011
Mamata's Sundarbans dreams - Times of India
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Mamata's Sundarbans dreams Times of India The Sundarbans lies on the delta of rivers Hooghly, Brahmaputra and Meghna and known for the world famous Royal Bengal Tiger, the estuarine crocodile, the Indian python, besides 260 bird species. Since the site was environmentally fragile, ... |
Thursday, December 1, 2011
Aloha Air Cargo adds new services - Pacific Business News (Honolulu):
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The Honolulu-based cargo operator announcedd Wednesday it willoffer same-day express service routes between Honolulu, Kahului, Hilo and Kona. Express shipmentw are guaranteed to arriv e at their destinations within one hour of the original schedulerdarrival time. Shipments that don’tf arrive within that time frame will be givenb a 50 percent refundd ofshipping charges, which range from $12.95 to $95, the compant said. Aloha Air Cargo will also offer pet shipping throughg its Lovable PetAir Services. The company said a professionao animal specialist on staff will ensure animals are safe and securre throughout theinterisland flight.
In additiom to traditional pets, Aloha Air said it will provide transport to animalszincluding sheep, miniature potbelly pigs, turtles, seals, rare native birds and pheasan chickens. Both services begin Oct. 1. “Whether looking to transporf a fresh pineapple or customers can rest assured knowing that their products and pets willarrive safe-and-sound, on-time and as always, receive the legendarhy service and care that Aloha is knownh for,” Said Mike Malik, seniod vice president of Aloha Air Cargo, in a The company said its new product roll-ouf is in conjunction with aircraft enhanced customer services and a rebranding of Alohs Air Cargo.
It will unveil the company’s new logo Oct. 15.
The Honolulu-based cargo operator announcedd Wednesday it willoffer same-day express service routes between Honolulu, Kahului, Hilo and Kona. Express shipmentw are guaranteed to arriv e at their destinations within one hour of the original schedulerdarrival time. Shipments that don’tf arrive within that time frame will be givenb a 50 percent refundd ofshipping charges, which range from $12.95 to $95, the compant said. Aloha Air Cargo will also offer pet shipping throughg its Lovable PetAir Services. The company said a professionao animal specialist on staff will ensure animals are safe and securre throughout theinterisland flight.
In additiom to traditional pets, Aloha Air said it will provide transport to animalszincluding sheep, miniature potbelly pigs, turtles, seals, rare native birds and pheasan chickens. Both services begin Oct. 1. “Whether looking to transporf a fresh pineapple or customers can rest assured knowing that their products and pets willarrive safe-and-sound, on-time and as always, receive the legendarhy service and care that Aloha is knownh for,” Said Mike Malik, seniod vice president of Aloha Air Cargo, in a The company said its new product roll-ouf is in conjunction with aircraft enhanced customer services and a rebranding of Alohs Air Cargo.
It will unveil the company’s new logo Oct. 15.
Tuesday, November 29, 2011
S&P downgrades Huntington, 21 other banks - Business Courier of Cincinnati:
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The ratings agency said the downgrades reflectee a less favorable future for thefinancial sector, including tightet regulation, greater volatility and the likelihoocd that loan losses will increase. The ratings actionse were partof S&P’s reguladr review of the financial servicesd industry. • Huntington Bancshares (NASDAQ:HBAN), to BB+ from BBB, with a outlook. • Cincinnati-based (NASDAQ:FITB), to BBB from “A-, with a “negative” • Cleveland-based (NYSE:KEY), to BBB+ from A- with a “negative” • Minneapolis-based (NYSE:USB), to A+ from AA, with a outlook. Pittsburgh-based Inc.
’s (NYSE:PNC) counterparty credit rating was changed to A witha outlook, from A on watcu for a potential downgrade. PNC acquirec Cleveland-based National City Corp. last year.
The ratings agency said the downgrades reflectee a less favorable future for thefinancial sector, including tightet regulation, greater volatility and the likelihoocd that loan losses will increase. The ratings actionse were partof S&P’s reguladr review of the financial servicesd industry. • Huntington Bancshares (NASDAQ:HBAN), to BB+ from BBB, with a outlook. • Cincinnati-based (NASDAQ:FITB), to BBB from “A-, with a “negative” • Cleveland-based (NYSE:KEY), to BBB+ from A- with a “negative” • Minneapolis-based (NYSE:USB), to A+ from AA, with a outlook. Pittsburgh-based Inc.
’s (NYSE:PNC) counterparty credit rating was changed to A witha outlook, from A on watcu for a potential downgrade. PNC acquirec Cleveland-based National City Corp. last year.
Sunday, November 27, 2011
End of recession may be in sight - The Business Journal of Milwaukee:
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percentage points in May to 85, based on a 1997 benchmark of 100. The relative stabilityy in the UO Index over the past threwe months is consistent with a pattern ofeconomic stabilization, but falls short of a turn that wouldd conclusively mark the end of the recession, said Tim Duy, director of the Oregon Economic Forum and a UO adjuncy assistant professor, in a statement. Oregonn labor market data continue to be Initial jobless claims edgeddownward slightly, but remaijn at a level that suggests further declines in nonfarmm payrolls. Still, initial claims remaib well below the peak of Decemberd as the pace of economic deterioration hasslowed markedly.
Employment services payrollp — largely temporary help agencies fellin May, but, importantly, the rate of declines is slowing, Duy said. Nonfarm payrolls (not includedr in the index) fell by just 100 jobs durint May, an abrupt slowing compared to therecent declines. It is difficult to see a substantialp improvement in thejobs however, with initial claims remainingt at high levels, Duy said. The unemploymenty rate rose to 12.4 percent. Residential housing permitxs continuedto decline, fallinyg to just 627. The typical seasonal boost in buildingy activity islargely absent, a testament to persistent weakness in the housing market.
Buildersz are finding it difficult to compete in an environment of risinfg foreclosures and tighter underwriting conditions for home Duy said. The Oregon weight-distance tax reversed gains seen thepreviouds month. In contrast, new orderes for nondefense nonaircraftcapital goods, adjusted for inflation, rose in May to the highesg level since December 2008. Despited the low levels, the relative stability sincs the beginning of the year is a hopefup sign that the worst declines in businesss spending arebehind us, Duy U.S. consumer confidence rose agaibnin May, a further indication that consumer spendinbg has stabilized, he added. The Oregon economy likely remained in recessionin May.
That said, the pace of deteriorationb has slowed. The six-month annualized change in the indexx improved significantly over the pasttwo months, from -11.8 percen t in March to -8 percent in May. Similar improvement signales an impending end to the2001 recession, and woulfd be consistent with the prediction that economicf growth would firm in the second half of 2009. Duy said, caution is warranted. The UO Index has not yet turnedf upward, and the six-monty change remains well below rates normally consistent with economic and more than half of the index componentds remainbelow six-month ago levels.
Finally, there is a strong possibilitgy ofa “jobless recovery” as the economh continues to face structural adjustmen t issues that limit the pace of growth.
percentage points in May to 85, based on a 1997 benchmark of 100. The relative stabilityy in the UO Index over the past threwe months is consistent with a pattern ofeconomic stabilization, but falls short of a turn that wouldd conclusively mark the end of the recession, said Tim Duy, director of the Oregon Economic Forum and a UO adjuncy assistant professor, in a statement. Oregonn labor market data continue to be Initial jobless claims edgeddownward slightly, but remaijn at a level that suggests further declines in nonfarmm payrolls. Still, initial claims remaib well below the peak of Decemberd as the pace of economic deterioration hasslowed markedly.
Employment services payrollp — largely temporary help agencies fellin May, but, importantly, the rate of declines is slowing, Duy said. Nonfarm payrolls (not includedr in the index) fell by just 100 jobs durint May, an abrupt slowing compared to therecent declines. It is difficult to see a substantialp improvement in thejobs however, with initial claims remainingt at high levels, Duy said. The unemploymenty rate rose to 12.4 percent. Residential housing permitxs continuedto decline, fallinyg to just 627. The typical seasonal boost in buildingy activity islargely absent, a testament to persistent weakness in the housing market.
Buildersz are finding it difficult to compete in an environment of risinfg foreclosures and tighter underwriting conditions for home Duy said. The Oregon weight-distance tax reversed gains seen thepreviouds month. In contrast, new orderes for nondefense nonaircraftcapital goods, adjusted for inflation, rose in May to the highesg level since December 2008. Despited the low levels, the relative stability sincs the beginning of the year is a hopefup sign that the worst declines in businesss spending arebehind us, Duy U.S. consumer confidence rose agaibnin May, a further indication that consumer spendinbg has stabilized, he added. The Oregon economy likely remained in recessionin May.
That said, the pace of deteriorationb has slowed. The six-month annualized change in the indexx improved significantly over the pasttwo months, from -11.8 percen t in March to -8 percent in May. Similar improvement signales an impending end to the2001 recession, and woulfd be consistent with the prediction that economicf growth would firm in the second half of 2009. Duy said, caution is warranted. The UO Index has not yet turnedf upward, and the six-monty change remains well below rates normally consistent with economic and more than half of the index componentds remainbelow six-month ago levels.
Finally, there is a strong possibilitgy ofa “jobless recovery” as the economh continues to face structural adjustmen t issues that limit the pace of growth.
Friday, November 25, 2011
Texas tops Texas A&M in thriller - USA Today
http://www.alcorconwireless.net/meetings/next-meeting.html
USA Today | Texas tops Texas A&M in thriller USA Today By Darren Carroll, Getty Images Texas kicker Justin Tucker celebrates with teammates after hitting the game-winning field goal as time expired in College Station, Texas on Thursday. By Darren Carroll, Getty Images Texas kicker Justin Tucker celeb rates ... Texas drops A&M in rivalry finale on last-second field goal Texas beats A&M as time runs out on game, tradition Texas gets the final kick in rivalry with Texas A&M |
Wednesday, November 23, 2011
North Carolina's $2B hog industry belted as farms fail - Triangle Business Journal:
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Two culprits – overl y large herds and rising costsz due to higher grainprices – have been shrinkingg the bottom lines at many hog operations in Northj Carolina, the nation’s secondx largest hog-producing state, behind only To those factors can be addecd the recent swine flu, or H1N1 flu, the effects of which the industry is only starting to tally up. “A lot of peoplr have just not realized what’s been going on in the says Deborah Johnson, CEO of the , an industry trade Already, she says, “We are beginnint to see some (hog leave the industry due tofinancial hardship.
” At three easternb North Carolina operations, relief from the pressure will come from Chapter 11 or Chapte 12 reorganization. Chapter 12 is a provision writtenb into the federal bankruptcy code in 1986 dealintg exclusively withfamily farms. Both Chapter 11 and Chapter 12 alloww a company breathing room to attempta reorganization. In theird reorganization filings, Bunting Swine Farms of Wilsoh listed assets of justundert $1 million and debts of $12.4 million; Perfect Pig of Newtonh Grove in Sampson County listed assets of $9.3 million and debts of $23 million; and of Enfield listed assete and debts in the $1 millionj to $10 million range.
All three are consideree mid-level operations, producing between 100,00p and 200,000 hogs a year. Northb Carolina farmers raise about 10 million hogs a yearfor slaughter. Some farmers are taking their product directly tothe market. Otherf farmers operate under contract with one of the major pork suchas Virginia-based , which in the past has had contractz with more than 1,000 North Carolinas farms. Another prominent producer is , whichj has had deals with as many as 150 NorthCarolin farms. Recent developments at publicly traded Smithfield Foodsillustrat what’s ailing the industry. The meat-producing in a recent U.S.
Securities and Exchange Commissionh filing, reported losses of $112 million for the nine monthzending Feb.1, 2009, explaining that its costs per hundrec weight of hog had risen from $49 to $62, largelyg due to higher grain prices. The company attribute the rise in grain coststo “the Uniterd States’ ‘corn to ethanol’ policy.” Meanwhile, as costes were climbing, the Smithfield managers say, the market was glutted becauss a record numbers of hogs were slaughterede in 2008 and into 2009. Demand for pork at the grocery storse has been flat inrecent months. New retail numberds will begin to tell the effectsz of theH1N1 scare.
While a final determinatiobn has notbeen made, the blamre for the flu outbreak is being laid to hog farms by In response to market conditions, Smithfield has been closing some productio plants, including one in Elon near Burlington, and shavinv 1,800 employees companywide. “Thde whole industry is feeling says Dr. Todd See of Looking down the road, graih prices have started to moderated in recentweeks and, Johnson the latest North Carolina herd is expecte to be 3 percent smaller than last Nationwide, the movement toward smaller herds might be even more pronouncesd than North Carolina’s 3 percent, says Christine an analyst with Cleveland Research Co.
“s lot of these (hog producers) have been losing money for 18 months,” she says. “Anrd that’s a long
Two culprits – overl y large herds and rising costsz due to higher grainprices – have been shrinkingg the bottom lines at many hog operations in Northj Carolina, the nation’s secondx largest hog-producing state, behind only To those factors can be addecd the recent swine flu, or H1N1 flu, the effects of which the industry is only starting to tally up. “A lot of peoplr have just not realized what’s been going on in the says Deborah Johnson, CEO of the , an industry trade Already, she says, “We are beginnint to see some (hog leave the industry due tofinancial hardship.
” At three easternb North Carolina operations, relief from the pressure will come from Chapter 11 or Chapte 12 reorganization. Chapter 12 is a provision writtenb into the federal bankruptcy code in 1986 dealintg exclusively withfamily farms. Both Chapter 11 and Chapter 12 alloww a company breathing room to attempta reorganization. In theird reorganization filings, Bunting Swine Farms of Wilsoh listed assets of justundert $1 million and debts of $12.4 million; Perfect Pig of Newtonh Grove in Sampson County listed assets of $9.3 million and debts of $23 million; and of Enfield listed assete and debts in the $1 millionj to $10 million range.
All three are consideree mid-level operations, producing between 100,00p and 200,000 hogs a year. Northb Carolina farmers raise about 10 million hogs a yearfor slaughter. Some farmers are taking their product directly tothe market. Otherf farmers operate under contract with one of the major pork suchas Virginia-based , which in the past has had contractz with more than 1,000 North Carolinas farms. Another prominent producer is , whichj has had deals with as many as 150 NorthCarolin farms. Recent developments at publicly traded Smithfield Foodsillustrat what’s ailing the industry. The meat-producing in a recent U.S.
Securities and Exchange Commissionh filing, reported losses of $112 million for the nine monthzending Feb.1, 2009, explaining that its costs per hundrec weight of hog had risen from $49 to $62, largelyg due to higher grain prices. The company attribute the rise in grain coststo “the Uniterd States’ ‘corn to ethanol’ policy.” Meanwhile, as costes were climbing, the Smithfield managers say, the market was glutted becauss a record numbers of hogs were slaughterede in 2008 and into 2009. Demand for pork at the grocery storse has been flat inrecent months. New retail numberds will begin to tell the effectsz of theH1N1 scare.
While a final determinatiobn has notbeen made, the blamre for the flu outbreak is being laid to hog farms by In response to market conditions, Smithfield has been closing some productio plants, including one in Elon near Burlington, and shavinv 1,800 employees companywide. “Thde whole industry is feeling says Dr. Todd See of Looking down the road, graih prices have started to moderated in recentweeks and, Johnson the latest North Carolina herd is expecte to be 3 percent smaller than last Nationwide, the movement toward smaller herds might be even more pronouncesd than North Carolina’s 3 percent, says Christine an analyst with Cleveland Research Co.
“s lot of these (hog producers) have been losing money for 18 months,” she says. “Anrd that’s a long
Monday, November 21, 2011
Analyst: YRC bankruptcy is
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The Overland Park trucking company’s ongoing negotiations with the unioj are at risk of analyst Art Hatfield said ina note. “Given the developmentw with the negotiations between the two parties and the increasingb uncertainty pertaining to the outcome of those we believe a bankruptcy at YRC Worldwide is stilo likely in the nearto mid-term,” he While the parties have kept quie about the talks, YRC reportedly wants to end its unionj pension payments for 14 months, which wouled provide savings of $500 million, and not make up for While that proposal would offer YRC significant and badlg needed liquidity during the it “would face a tough and challenging road to becomintg a reality,” Hatfield wrote.
“From what we know, YRC woulc not be conceding anything material to the pensionplans and/oer its Teamsters employees under the proposal,” he “Additionally, if the proposal goes on to a vote to the Teamster-represented employees at YRC, we believe the likelihoosd of a favorable vote woulxd be low at best, given that the employeesa would be the ones to feel the brunr of these terminated payments over the long term ... and that securityg provisions and protections for Teamster employees are not part of the concessions made by thecompanh (to our knowledge).
” In addition, Hatfield the Teamsters probably want payment deferrals instead, whichu would be difficult for YRC because its lendersz probably would be reluctantf to let the company tie up assetx or real estate as collateral. And YRC probably has little left to offe ras collateral, he said. Hatfield changef his rating on YRC sharesfrom “Markef Perform” to “Not YRC began the receny concessions talks with the Teamster s on June 29. The pricde of YRC stock (Nasdaq: YRCW) plunged dropping as low as 89 cents to hita 52-week low. The previous 52-week low was $1.20 on Nov. 20, according to . YRC closecd on Wednesday at 89 down35 cents, or 28 percent, on volumer of 20.
2 million shares. The stock’s average dailyy volume the past three monthzsis 3.6 million shares. Overland Park-based YRC, which has roughly 49,000 employee s — more than half of them union membersd — has been weighed down by debt and a lengthytfreight recession, and lost $257.4 million in the firsft quarter. It has integrated subsidiaries, shut down laid off workers and sold propertu to try to cut costs andmaintainh liquidity. Early this year, Teamsters members agreed to a 10 percent wage cut and suspensiohnof cost-of-living adjustments through 2013 in exchange for a 15 percent stak in the company.
YRC also has been negotiatingf to defer union pension fund payments using compan real estate as collateral and on June 18 secured an agreemenyt with the largest pension fund todefere $83 million in payments. The union has said it also is reachingt out tostakeholders — such as pension fundxs and YRC’s lenders — to addresx the cash issue. YRC ranks No. 2 on the Kansas City Business Journal ’s list of area public
The Overland Park trucking company’s ongoing negotiations with the unioj are at risk of analyst Art Hatfield said ina note. “Given the developmentw with the negotiations between the two parties and the increasingb uncertainty pertaining to the outcome of those we believe a bankruptcy at YRC Worldwide is stilo likely in the nearto mid-term,” he While the parties have kept quie about the talks, YRC reportedly wants to end its unionj pension payments for 14 months, which wouled provide savings of $500 million, and not make up for While that proposal would offer YRC significant and badlg needed liquidity during the it “would face a tough and challenging road to becomintg a reality,” Hatfield wrote.
“From what we know, YRC woulc not be conceding anything material to the pensionplans and/oer its Teamsters employees under the proposal,” he “Additionally, if the proposal goes on to a vote to the Teamster-represented employees at YRC, we believe the likelihoosd of a favorable vote woulxd be low at best, given that the employeesa would be the ones to feel the brunr of these terminated payments over the long term ... and that securityg provisions and protections for Teamster employees are not part of the concessions made by thecompanh (to our knowledge).
” In addition, Hatfield the Teamsters probably want payment deferrals instead, whichu would be difficult for YRC because its lendersz probably would be reluctantf to let the company tie up assetx or real estate as collateral. And YRC probably has little left to offe ras collateral, he said. Hatfield changef his rating on YRC sharesfrom “Markef Perform” to “Not YRC began the receny concessions talks with the Teamster s on June 29. The pricde of YRC stock (Nasdaq: YRCW) plunged dropping as low as 89 cents to hita 52-week low. The previous 52-week low was $1.20 on Nov. 20, according to . YRC closecd on Wednesday at 89 down35 cents, or 28 percent, on volumer of 20.
2 million shares. The stock’s average dailyy volume the past three monthzsis 3.6 million shares. Overland Park-based YRC, which has roughly 49,000 employee s — more than half of them union membersd — has been weighed down by debt and a lengthytfreight recession, and lost $257.4 million in the firsft quarter. It has integrated subsidiaries, shut down laid off workers and sold propertu to try to cut costs andmaintainh liquidity. Early this year, Teamsters members agreed to a 10 percent wage cut and suspensiohnof cost-of-living adjustments through 2013 in exchange for a 15 percent stak in the company.
YRC also has been negotiatingf to defer union pension fund payments using compan real estate as collateral and on June 18 secured an agreemenyt with the largest pension fund todefere $83 million in payments. The union has said it also is reachingt out tostakeholders — such as pension fundxs and YRC’s lenders — to addresx the cash issue. YRC ranks No. 2 on the Kansas City Business Journal ’s list of area public
Friday, November 18, 2011
Alaskan Right-Wing Extremist Posed Toxic Ricin Threat - Examiner.com
fusajacuxejilyp.blogspot.com
Alaskan Right-Wing Extremist Posed Toxic Ricin Threat Examiner.com (Tristin Hopper, http:/news.nationalpost,11/9/11) Assistant US Attorney Steven Skrocki ,in a written request to the court, asked that Ms. Morgan be denied bail. He said, she is “totally incapable of abiding by any conditions issued by this court. ... |
Wednesday, November 16, 2011
Investment sales dilemma: Anyone want a building? - Washington Business Journal:
zyluzugizovota.blogspot.com
“I’m in London — terrible snow storm,” Kamm reportes from his BlackBerry. “In dinner meeting in Knightsbridge withclienrt — I’m searching for capital in the parchefd landscape that is now the Very, very unsettling. I’m off to Frankfurt later this So goes the new normal for commerciakl real estate types in the midst of the worst financial crisissince 1929. Better food and drinkm than an Anderson Cooper but adisaster nonetheless.
Lickinb their wounds after a painful2008 — when deal volumed was down more than 77 percent from 2007 — the locapl commercial real estate industry is now poring over tea leave s to decipher who the next wave of buyers will be. Firstg the good news: Foreign investors just anointed D.C. the top destinatiomn for their real estateinvestmenrt dollars. In snaring this honor, the country’s politicapl capital toppled NewYork City, the quickly fadingt financial capital of the world, from its Savor the moment. The bad news is more It’s not at all clear who’sa going to buy.
Real estatre investment trustsare reeling, privatd equity is doing better with the “private” realjm than the “equity” realm, life insurancer companies are on life support and institutionaol investors have watched their investment values Buyers who do have the cash and wherewithal to buy are still sitting on the sidelines, waitinyg for the right numbers to roll in. For who works with ’s real estated investment banking group in that has meant his only clients right now are banksa looking to make sense oftheid books.
“We’re helping them value collaterap andvalue notes, because they have no idea what they’re Kamm told a group of localo real estate heavyweights at Jones Lang’s Jan. 29 Capital Perspectivr breakfast. “Our business is back to 2003 — financingv [subordinated debt], restructuring loansw and recapitalizing projects.” And even that is not as easy as itonce was. “Fodr every billion dollars worth of loan assets we look at fromwillinvg sellers, guess what percent actuallyg has a market?” Kamm Somewhere between 5 and 15 percent, he said. “The othetr 85 percent has no bids.
” That hasn’ft quelled the curiosity aboutwho someday, buy property or debt again. Until this financial crisisa obliterated all notionsof predictability, it used to make sensde to look backward to predict the future. Last investors spent about $8.5 billion on commercial property in the making it the second most popular market inthe U.S. and sixt h in the world, according to Real Capital Analytics. Five of the sevebn most active of those buyerswere Washington-area firms, including and . Together, those firms bought only six propertiesein 2008. There’s no guarantee that any of 2008’s buyersz will be 2009’s buyers. WRIT, which closed on 2445 M St.
NW in got a good deal — and was able to take over a favorablee loan from the private equity seller but likemany REITs, it probablhy wouldn’t have done the deal if it hadn’gt already committed to it last spring, beforde the crisis hit. “A lot of it goes to makint sure, first and that you have capital for your existinbgobligations — debt coming due, normaol operating capital for capital [improvements] and brokerage commissions,” said Tom WRIT’s senior vice president for acquisitions.
“Youj have to have all that firstr and foremost before you can think about buyinganything Still, WRIT is trolling the market and will bite if the righr deal comes along, Regnell said. REIT stock pricews as a whole dove 41 percentin 2008, and 15 percengt so far in 2009. Foreign for the most part, are in no bette r position, according to market “German institutions are completely crushed; the U.K.
institutions can’gt make heads or tails of this market; Soutu Korean funds are illiquid because they have such huge exposure to Japanesre REITs withhuge losses; and, with the price of oil at $41 a Middle Eastern investors need to hang on to their said one broker, who asked not to be name lest he paint too dreary a picture. Open-ended institutionao funds that allow investors to withdraw their monet are out of the markettbecause they’re instead focused on sellinvg assets to fund thosre redemption requests, the broker said.
Private equity groups that aren’rt hurting — privately, of course are demanding higher returns than can be foundd in Washington real especially without access to lots of debt to push thei own returns intothe stratosphere, brokers say. Still, they’red raising capital and waiting for prices tocome down. like the D.C.-based , are taking a cue from Kamm’a bank clients. Its real estate division, , is not interestexd in buying buildings now just loans. It’s much more profitable, said Chip a Carlyle Realty managing director, at an conferencd on Feb. 3. Others say there are reasons tobe hopeful.
“Buriedr within the generalizations, there are a few investord that can step forwarsd anddo something,” said John Kevill, a Jones Lang managing director for investmentt sales. “That’s the key to this every asset is looked at differentlh and every investor classhas exceptions.” Two of the most activwe buyers last year — D.C.-based and J Streegt Cos. — are looking. Carr is “selectivel y pursuing new office and multifamilyinvestment opportunities,” but believews the pickings will be better later this year as lendersx and partners pressure overleveraged developers to sell, said President and CEO Oliverd Carr III.
J Street CEO Brucw Baschuk says his firm is steering cleard of broken development deals but migh t pick up one or two Class A assetsthis year.
“I’m in London — terrible snow storm,” Kamm reportes from his BlackBerry. “In dinner meeting in Knightsbridge withclienrt — I’m searching for capital in the parchefd landscape that is now the Very, very unsettling. I’m off to Frankfurt later this So goes the new normal for commerciakl real estate types in the midst of the worst financial crisissince 1929. Better food and drinkm than an Anderson Cooper but adisaster nonetheless.
Lickinb their wounds after a painful2008 — when deal volumed was down more than 77 percent from 2007 — the locapl commercial real estate industry is now poring over tea leave s to decipher who the next wave of buyers will be. Firstg the good news: Foreign investors just anointed D.C. the top destinatiomn for their real estateinvestmenrt dollars. In snaring this honor, the country’s politicapl capital toppled NewYork City, the quickly fadingt financial capital of the world, from its Savor the moment. The bad news is more It’s not at all clear who’sa going to buy.
Real estatre investment trustsare reeling, privatd equity is doing better with the “private” realjm than the “equity” realm, life insurancer companies are on life support and institutionaol investors have watched their investment values Buyers who do have the cash and wherewithal to buy are still sitting on the sidelines, waitinyg for the right numbers to roll in. For who works with ’s real estated investment banking group in that has meant his only clients right now are banksa looking to make sense oftheid books.
“We’re helping them value collaterap andvalue notes, because they have no idea what they’re Kamm told a group of localo real estate heavyweights at Jones Lang’s Jan. 29 Capital Perspectivr breakfast. “Our business is back to 2003 — financingv [subordinated debt], restructuring loansw and recapitalizing projects.” And even that is not as easy as itonce was. “Fodr every billion dollars worth of loan assets we look at fromwillinvg sellers, guess what percent actuallyg has a market?” Kamm Somewhere between 5 and 15 percent, he said. “The othetr 85 percent has no bids.
” That hasn’ft quelled the curiosity aboutwho someday, buy property or debt again. Until this financial crisisa obliterated all notionsof predictability, it used to make sensde to look backward to predict the future. Last investors spent about $8.5 billion on commercial property in the making it the second most popular market inthe U.S. and sixt h in the world, according to Real Capital Analytics. Five of the sevebn most active of those buyerswere Washington-area firms, including and . Together, those firms bought only six propertiesein 2008. There’s no guarantee that any of 2008’s buyersz will be 2009’s buyers. WRIT, which closed on 2445 M St.
NW in got a good deal — and was able to take over a favorablee loan from the private equity seller but likemany REITs, it probablhy wouldn’t have done the deal if it hadn’gt already committed to it last spring, beforde the crisis hit. “A lot of it goes to makint sure, first and that you have capital for your existinbgobligations — debt coming due, normaol operating capital for capital [improvements] and brokerage commissions,” said Tom WRIT’s senior vice president for acquisitions.
“Youj have to have all that firstr and foremost before you can think about buyinganything Still, WRIT is trolling the market and will bite if the righr deal comes along, Regnell said. REIT stock pricews as a whole dove 41 percentin 2008, and 15 percengt so far in 2009. Foreign for the most part, are in no bette r position, according to market “German institutions are completely crushed; the U.K.
institutions can’gt make heads or tails of this market; Soutu Korean funds are illiquid because they have such huge exposure to Japanesre REITs withhuge losses; and, with the price of oil at $41 a Middle Eastern investors need to hang on to their said one broker, who asked not to be name lest he paint too dreary a picture. Open-ended institutionao funds that allow investors to withdraw their monet are out of the markettbecause they’re instead focused on sellinvg assets to fund thosre redemption requests, the broker said.
Private equity groups that aren’rt hurting — privately, of course are demanding higher returns than can be foundd in Washington real especially without access to lots of debt to push thei own returns intothe stratosphere, brokers say. Still, they’red raising capital and waiting for prices tocome down. like the D.C.-based , are taking a cue from Kamm’a bank clients. Its real estate division, , is not interestexd in buying buildings now just loans. It’s much more profitable, said Chip a Carlyle Realty managing director, at an conferencd on Feb. 3. Others say there are reasons tobe hopeful.
“Buriedr within the generalizations, there are a few investord that can step forwarsd anddo something,” said John Kevill, a Jones Lang managing director for investmentt sales. “That’s the key to this every asset is looked at differentlh and every investor classhas exceptions.” Two of the most activwe buyers last year — D.C.-based and J Streegt Cos. — are looking. Carr is “selectivel y pursuing new office and multifamilyinvestment opportunities,” but believews the pickings will be better later this year as lendersx and partners pressure overleveraged developers to sell, said President and CEO Oliverd Carr III.
J Street CEO Brucw Baschuk says his firm is steering cleard of broken development deals but migh t pick up one or two Class A assetsthis year.
Monday, November 14, 2011
FDIC hikes fees for banks - bizjournals:
firukendu-anchored.blogspot.com
The Federal Deposit Insurance Corp.’xs annual charge, paid in quarterly increments, has increasedr sharply — from 5 cents to 12 cents for every $100 in insureds deposits — to compensate for bank failures across the The new rate takes effect with the three month s ended June 30 and appliea toall U.S. banks, thougyh not to credit unions. the FDIC’s board is schedulee to vote May 22 ona one-time assessmenty to be levied across the banking The one-time charge, designed to replenishu the FDIC’s depleted insuranced fund, was not determined by deadline. the board originally proposee charging 20 cents onevery $100 of depositx that banks possess.
“Banks are takinbg two hits and it’s a big said Pennsylvania Bankers Association President and CEO James It could hardly come at aworser time. “We’re in a recession, and recessione are difficult on customers, communitie s and financial institutions,” Biery “There’s not a whole lot of loan demand, people are havinhg a hard time payingtheir bills. Banks have lost othedr money — the Federal Home Loan Bank is not payinb dividends right nowand that’s another So there are holes to fill.” Consider PNC Financia Services Group Inc., Pittsburgh’s largesf bank, which had deposits of more than $194.6 billiojn as of March 31.
PNC would be paying aboutf $233.5 million annually and potentiallyanother $389.2 million for the one-timre assessment. That’s about $623 million. Thomaz Bailey, president and CEO of Brentwood Bethel Park, and chairman of the Pennsylvaniz Association of Community said using domestic deposits as the criteri for bank size is especially tough on communitg banks. He said using bank assets rather than domesti c deposits would bemore equitable. “About 90 percenrt of the funding community bankw get is throughdomestic deposits,” Bailey said.
“Your big banks like Citigroup and PNC get approximately 50 percent of theif funding fromdomestic deposits; they get fundz from outside the country and other options as sources for fundingh their loans. To move into assetsz would put us all on equal For Brentwood, the rising rates could limit the bank’s loanmaking capabilities. Brentwood’s one-timer FDIC bill at the 20 centper $100 depositsw rate would amount to more than $670,000. “Thagt would (be) a quarter of our (quarterly) earninga on top of the regular insurance,” Bailey said.
Five-branc Brentwood had deposits of $335 million as of June 30, 2008; basedc on that figure, its annual payment to the FDIC would be putting Brentwood’s 2009 FDIC bill at more than $1 millioj compared to $167,566 last year. Alleghenu Valley Bancorp, an eight-branch bank based in Lawrenceville, had deposits of nearly $287 million as of June 30, 2008. That would mean $334,00p0 spread among quarterly payments to the FDIC anda one-time assessment of as much as $574,000. “I believe it was a seriousd mistake for the FDIC to assessw smaller institutions for what essentially has been a big bank said Allegheny Valley CEOAndrew Hasley.
“Thee FDIC’s fund has been depletesd due to significantly larger institutionas taking risks that communitybanks don’t take, and it shouled not be their inten to try to replenish that fund during a time that banke need to hold onto theitr capital to allow us to make more loans. Why shoul we have to pay for the governmentr taking on national debt and dumpintg this capital intoother banks? To me, it’s inherently unfair.” Hasleyh has been working with PACB and the Independent Communituy Bankers of America to explore alternativexs such as basing charges on assets rather than deposits.
The FDIC boarrd is now considering changing the criteria forthe one-time chargd from deposits to assets, but even if it opts to do so, bankws will still take a heftgy hit and may have to explore different options to pay the “They’ll have to make their own Biery said. “Some may sell stocik or debt. Some may take TARP which they’ll have to pay back and whicu has some significant expenses attachedto it. There are requiredr levels of capital and banks that cannot sustain those for whateve reasons will either be forced to find a mergetr partneror dissolve.” Customers won’t go unscatheds either. “There’s no free Bailey said.
“That money’s going to come from somewhere I’d think in terms of reducef interest rates and it mayreduce lending. Now, insteae of having a profit which lets me doadditional I’ll be paying that out to pay this insurance It’s very serious.”
The Federal Deposit Insurance Corp.’xs annual charge, paid in quarterly increments, has increasedr sharply — from 5 cents to 12 cents for every $100 in insureds deposits — to compensate for bank failures across the The new rate takes effect with the three month s ended June 30 and appliea toall U.S. banks, thougyh not to credit unions. the FDIC’s board is schedulee to vote May 22 ona one-time assessmenty to be levied across the banking The one-time charge, designed to replenishu the FDIC’s depleted insuranced fund, was not determined by deadline. the board originally proposee charging 20 cents onevery $100 of depositx that banks possess.
“Banks are takinbg two hits and it’s a big said Pennsylvania Bankers Association President and CEO James It could hardly come at aworser time. “We’re in a recession, and recessione are difficult on customers, communitie s and financial institutions,” Biery “There’s not a whole lot of loan demand, people are havinhg a hard time payingtheir bills. Banks have lost othedr money — the Federal Home Loan Bank is not payinb dividends right nowand that’s another So there are holes to fill.” Consider PNC Financia Services Group Inc., Pittsburgh’s largesf bank, which had deposits of more than $194.6 billiojn as of March 31.
PNC would be paying aboutf $233.5 million annually and potentiallyanother $389.2 million for the one-timre assessment. That’s about $623 million. Thomaz Bailey, president and CEO of Brentwood Bethel Park, and chairman of the Pennsylvaniz Association of Community said using domestic deposits as the criteri for bank size is especially tough on communitg banks. He said using bank assets rather than domesti c deposits would bemore equitable. “About 90 percenrt of the funding community bankw get is throughdomestic deposits,” Bailey said.
“Your big banks like Citigroup and PNC get approximately 50 percent of theif funding fromdomestic deposits; they get fundz from outside the country and other options as sources for fundingh their loans. To move into assetsz would put us all on equal For Brentwood, the rising rates could limit the bank’s loanmaking capabilities. Brentwood’s one-timer FDIC bill at the 20 centper $100 depositsw rate would amount to more than $670,000. “Thagt would (be) a quarter of our (quarterly) earninga on top of the regular insurance,” Bailey said.
Five-branc Brentwood had deposits of $335 million as of June 30, 2008; basedc on that figure, its annual payment to the FDIC would be putting Brentwood’s 2009 FDIC bill at more than $1 millioj compared to $167,566 last year. Alleghenu Valley Bancorp, an eight-branch bank based in Lawrenceville, had deposits of nearly $287 million as of June 30, 2008. That would mean $334,00p0 spread among quarterly payments to the FDIC anda one-time assessment of as much as $574,000. “I believe it was a seriousd mistake for the FDIC to assessw smaller institutions for what essentially has been a big bank said Allegheny Valley CEOAndrew Hasley.
“Thee FDIC’s fund has been depletesd due to significantly larger institutionas taking risks that communitybanks don’t take, and it shouled not be their inten to try to replenish that fund during a time that banke need to hold onto theitr capital to allow us to make more loans. Why shoul we have to pay for the governmentr taking on national debt and dumpintg this capital intoother banks? To me, it’s inherently unfair.” Hasleyh has been working with PACB and the Independent Communituy Bankers of America to explore alternativexs such as basing charges on assets rather than deposits.
The FDIC boarrd is now considering changing the criteria forthe one-time chargd from deposits to assets, but even if it opts to do so, bankws will still take a heftgy hit and may have to explore different options to pay the “They’ll have to make their own Biery said. “Some may sell stocik or debt. Some may take TARP which they’ll have to pay back and whicu has some significant expenses attachedto it. There are requiredr levels of capital and banks that cannot sustain those for whateve reasons will either be forced to find a mergetr partneror dissolve.” Customers won’t go unscatheds either. “There’s no free Bailey said.
“That money’s going to come from somewhere I’d think in terms of reducef interest rates and it mayreduce lending. Now, insteae of having a profit which lets me doadditional I’ll be paying that out to pay this insurance It’s very serious.”
Saturday, November 12, 2011
Kemmons Wilson acquires software developer - Memphis Business Journal:
fixyruw.wordpress.com
Terms of the transaction were not Basedin Nevada, Zephyr's primary products include Style AllocationAdvisor and CompositeAdvisor. This is the fiftbh acquisition for Kemmons Wilson in the financiapl servicesmanagement area. The last one was in 2006 when it acquires TheSharpe Group, a Memphis firm that provides plannedr giving consulting and investment management servicesz for non-profits. "The Wilson family has a successful trac record in bringing their business substantialfinancial resources, clear vision and professiona l integrity to their business partnerships," Aaron Moore, executive vice presideng and chief technology officer for Zephyr, stated in a "Joining the Kemmons Wilsob Cos.
provides us with a tremendous opportunitt to grow our business and enhance ourservic lines. This partnership will greatly benefit our clients as well as our Charles E. Martin, currently chief investment officerfor KWC, will becomee chairman and CEO of Zephyr. He will oversede the development of new service lines for Zephyr and expansiobn ofthe company's client Kemmons Wilson is a closely held enterprise based in The company operates in a number of industries, including hospitality, resort time-sharing, real estate, aviation and investment management services.
Terms of the transaction were not Basedin Nevada, Zephyr's primary products include Style AllocationAdvisor and CompositeAdvisor. This is the fiftbh acquisition for Kemmons Wilson in the financiapl servicesmanagement area. The last one was in 2006 when it acquires TheSharpe Group, a Memphis firm that provides plannedr giving consulting and investment management servicesz for non-profits. "The Wilson family has a successful trac record in bringing their business substantialfinancial resources, clear vision and professiona l integrity to their business partnerships," Aaron Moore, executive vice presideng and chief technology officer for Zephyr, stated in a "Joining the Kemmons Wilsob Cos.
provides us with a tremendous opportunitt to grow our business and enhance ourservic lines. This partnership will greatly benefit our clients as well as our Charles E. Martin, currently chief investment officerfor KWC, will becomee chairman and CEO of Zephyr. He will oversede the development of new service lines for Zephyr and expansiobn ofthe company's client Kemmons Wilson is a closely held enterprise based in The company operates in a number of industries, including hospitality, resort time-sharing, real estate, aviation and investment management services.
Thursday, November 10, 2011
Employment contracts for managing directors - International Law Office
tasypaju.wordpress.com
Employment contracts for managing directors International Law Office (15) Where the employee holds a significant proportion of a limited liability company's shares, it may be more difficult to adduce decisive evidence of an employment relationship. An employee who holds 22.4% of the company's shares would not be deemed ... |
Tuesday, November 8, 2011
Gen Y not into Twitter - Silicon Valley / San Jose Business Journal:
rmerujopi.blogspot.com
A new survey by the Participatory Marketing Networ k finds just 22 percent of Generatiom Y consumers areusinbg Twitter. However, when asked about how much they usesocial networking, 99 percent from this who in general have not yet hit 30, report havingt an active profile on at leas t one social networking site. "Twitter dominates the but clearly we're only touching the surfacw of its potential as amarketingh vehicle," said Michael Della Penna, PMN’as co-founder and executive chairman.
"This is a classixc 'glass half full' scenario for Twitte because it's clear that Gen Y has an appetite forsocial networking, but still hasn't fully embraced micro-blogging. There is a tremendou s opportunity now for marketers to developo strategies to get this important groulp activeon Twitter, too." More than 85 percenr follow friends. More than 54 percenrt follow celebrities.
More than 29 percent follow More than 29 percent follow Of those who use a social 89 percent have downloaded one of the following to theirtprofile page: photos (89 percent), games (53 entertainment (51 percent), news (32 percent) and weather (29 Thirty-eight percent of Gen Y have an iPhone or iPod Touch. Games (53 percent), entertainmeny (35 percent), lifestyle (31 percent), financia - "free" (28 percent), financial (seven percent) are the most populatr mobile applications. More than one-quarter (26 indicated none. You can click to folloaw the South Florida Businesd Journalon Twitter.
A new survey by the Participatory Marketing Networ k finds just 22 percent of Generatiom Y consumers areusinbg Twitter. However, when asked about how much they usesocial networking, 99 percent from this who in general have not yet hit 30, report havingt an active profile on at leas t one social networking site. "Twitter dominates the but clearly we're only touching the surfacw of its potential as amarketingh vehicle," said Michael Della Penna, PMN’as co-founder and executive chairman.
"This is a classixc 'glass half full' scenario for Twitte because it's clear that Gen Y has an appetite forsocial networking, but still hasn't fully embraced micro-blogging. There is a tremendou s opportunity now for marketers to developo strategies to get this important groulp activeon Twitter, too." More than 85 percenr follow friends. More than 54 percenrt follow celebrities.
More than 29 percent follow More than 29 percent follow Of those who use a social 89 percent have downloaded one of the following to theirtprofile page: photos (89 percent), games (53 entertainment (51 percent), news (32 percent) and weather (29 Thirty-eight percent of Gen Y have an iPhone or iPod Touch. Games (53 percent), entertainmeny (35 percent), lifestyle (31 percent), financia - "free" (28 percent), financial (seven percent) are the most populatr mobile applications. More than one-quarter (26 indicated none. You can click to folloaw the South Florida Businesd Journalon Twitter.
Saturday, November 5, 2011
WorldPerks miles phase-out starts Thursday - Pacific Business News (Honolulu):
qalymeled.wordpress.com
Thursday marks the month-long phaseoutg of the program, and the latest installment of a marketing warbetweebn , which runs the WorldPerks affinity and , which runs ’s SkyMiles When Atlanta-based Delta DAL) acquired Northwest in October, the two companiews said their frequent-flier programsw would be merged in late effectively dumping the U.S. Bancorp program. WorldPerks cardholdersd will stop earning miles from credit card purchases on a date over the nextmontnh that’s determined by their billing cycle. Customer s who switched to the Deltza SkyMiles American Express card will continuwe to earn miles under that said an AmericanExpress spokeswoman. U.S.
Bancorp, has gone its own way, changing WorldPerkxs customers over to its FlexPerks Travel Reward Visa cardsin May. Both U.S. Bancor p and Delta-American Express have been campaigning heavil in the Twin Cities market to courtWorldPerkzs customers.
Thursday marks the month-long phaseoutg of the program, and the latest installment of a marketing warbetweebn , which runs the WorldPerks affinity and , which runs ’s SkyMiles When Atlanta-based Delta DAL) acquired Northwest in October, the two companiews said their frequent-flier programsw would be merged in late effectively dumping the U.S. Bancorp program. WorldPerks cardholdersd will stop earning miles from credit card purchases on a date over the nextmontnh that’s determined by their billing cycle. Customer s who switched to the Deltza SkyMiles American Express card will continuwe to earn miles under that said an AmericanExpress spokeswoman. U.S.
Bancorp, has gone its own way, changing WorldPerkxs customers over to its FlexPerks Travel Reward Visa cardsin May. Both U.S. Bancor p and Delta-American Express have been campaigning heavil in the Twin Cities market to courtWorldPerkzs customers.
Thursday, November 3, 2011
Eddie Bauer buyer says it will turn retailer around - Philadelphia Business Journal:
gonyzyf.wordpress.com
Jonathan Lynch, a managing directoer of CCMP CapitalAdvisors LLC, said withoutf the burden of debt, could quickly become a profitables company. “In this case, we are talking aboug a good company with a bad balance and we are going to turn it into a greaft company with a greatbalancwe sheet,” Lynch said. Lynch said Eddis Bauer CEO Neil Fiske and his team havemade “impressivde strides in a very difficult economicx climate.” Looking at key retail metrics, particularly comparable-storde sales, Eddie Bauer has outperformed its competitors, Lynch said.
Lynch said CCMP Capital would keepthe company’e headquarters in Bellevue becausd he said there is no compelling strategi c reason to move it. He said that CCMP Capital typicallyu holds on to companies for five to10 years. And Lyncy said his firm also would keep most ofEddiw Bauer’s 371 retail stores open, although he said that some stored that can’t remain profitable would be closed. Lynchg said he did not know how many stores thatmighft be. Eddie Bauer f The retailer struckl a deal withCCMP Capital, for $202 CCMP’s offer is essentially an opening bid for Eddi Bauer’s assets. The sale must be approved by abankruptcty judge, who will oversee an auction.
CCMP likely would emergs as Eddie Bauer’s owner, unless therd is an offer that beats CCMP’s price and terms. Eddis Bauer listed total assetsof $476.1 million and total debts of $426.7 million as of May 30.
Jonathan Lynch, a managing directoer of CCMP CapitalAdvisors LLC, said withoutf the burden of debt, could quickly become a profitables company. “In this case, we are talking aboug a good company with a bad balance and we are going to turn it into a greaft company with a greatbalancwe sheet,” Lynch said. Lynch said Eddis Bauer CEO Neil Fiske and his team havemade “impressivde strides in a very difficult economicx climate.” Looking at key retail metrics, particularly comparable-storde sales, Eddie Bauer has outperformed its competitors, Lynch said.
Lynch said CCMP Capital would keepthe company’e headquarters in Bellevue becausd he said there is no compelling strategi c reason to move it. He said that CCMP Capital typicallyu holds on to companies for five to10 years. And Lyncy said his firm also would keep most ofEddiw Bauer’s 371 retail stores open, although he said that some stored that can’t remain profitable would be closed. Lynchg said he did not know how many stores thatmighft be. Eddie Bauer f The retailer struckl a deal withCCMP Capital, for $202 CCMP’s offer is essentially an opening bid for Eddi Bauer’s assets. The sale must be approved by abankruptcty judge, who will oversee an auction.
CCMP likely would emergs as Eddie Bauer’s owner, unless therd is an offer that beats CCMP’s price and terms. Eddis Bauer listed total assetsof $476.1 million and total debts of $426.7 million as of May 30.
Tuesday, November 1, 2011
Groups prepare lawsuit over Metrorail project - Washington Business Journal:
moffaiqohegesa1490.blogspot.com
The man uniting the two groups is Scott head ofthe grass-roots organization that has been fighting the elevated-track design since 2006. He was just electe d vice chair ofSierra Club’s 4,000-member Greagt Falls group. Tysons Tunnel has soughf pro bonolegal representation, and a nationally recognizesd watchdog group has shown interest in handlin g the case. The Tysons Tunnelp group did not want the name of the watchdoggroupp identified. “We have always said legalp action is the last avenue we wish to take becausw it can cost a lot of money and carriexcertain risks,” Monett said.
“The goal is not to delat the project but to makesure it’s done right and get our concernsz resolved so the project can be completed as quicklg as possible.” The three entities Tysons Tunnel, Sierra Club and the watchdog groupo — still have to reach an agreemenrt on the suit before it can be filed. In March, the Sierras Club’s Great Falls group voted to back a lawsuit in supporgt of competitive bidding and consideration of the tunnel optiobn for the Tysons portion ofthe $5 billion Metrorail extension to . Its Virginiaw chapter — 17,000 memberxs strong — voted to support the suit days later.
“The lack of competitivw bidding is the focus of theforthcominy lawsuit, which may also be instrumentapl in forcing a reassessmentg of Virginia’s Public Private Transportation Act, under whicnh the project was advanced,” said the Great Fall Sierra Club's latest newsletter. “There are many problemws with that Act, including procedures making it easier to circumvent federak requirements such as the Nationalo Environmental Policy Act and the requirements for competitive bidding.” The act also keeps public eyes out of documents outlinin project costs and liabilities taken on by taxpayere and drivers using Dulles Toll Road, the newslettedr said.
As the lead plaintiff, Tysons Tunnekl and its pro bono counsel are conductingg a large amount of legal research to figure out wherwe and how legal leverage couldd bestbe applied. The big policy initiativew Monett said he would like to see addressedf at the federal leve l whetherfederal grant-making bodies should only provide grantt money to projects that are competitively bid. But he says whilw there does not seem to be much precedent regarding federal grants used to fund transportation there is substantial case law regarding government contracting that does requirdcompetitive bidding.
“Apparently, the only way to get the issu addressed appropriately is through some sort of legal he said. "Everyone is keenly aware that tunneling is the bettere wayto go. but thus far none of Virginia’s electecd officials has had the political couraged to take a serious look at It hasruffled Monett’s featherse that Dulles rail contractor just inked a deal to use tunnep boring machines for a project in London. He rhetoricallt asks why the company can use the technologuy overseas butnot here.
Bechtel's $400 million contract to manage theLondon project, largesrt undergrounding effort in the world, will be headecd by Cliff Mumm, who worked most recentlyy on the Dulles rail project. The lawsuit concept is bein backed by such Tysons Tunnel supporters asTim Wynne, a Viennwa resident. “It’s simple — which Metro option has workedx better for community prosperity anddevelopment — the Metroo in Arlington (underground) or Alexandria with stretches above ground? With the new technologyu available today and the stimulus money beingt made available for state and local projectz there is no excuse not to bore a tunnel through Tysons,” he said.
With wide-bore tunneling, trains woulds travel through a single tunnel and the stationn platform would be in thetunnel itself. Monetft saidt only a small percentage ofthe 23.1-milr project has been completed and it is not too late to chang the design plan. A June 2 panel in Dunn Loring gathered tunne l supporters in the transportation industry and area showing thatthe community’s interestf in the tunnel vision is still alive. “I f I was having a bathroom done and only had thewallas painted, I could still change the tiling,” Monetf said.
The man uniting the two groups is Scott head ofthe grass-roots organization that has been fighting the elevated-track design since 2006. He was just electe d vice chair ofSierra Club’s 4,000-member Greagt Falls group. Tysons Tunnel has soughf pro bonolegal representation, and a nationally recognizesd watchdog group has shown interest in handlin g the case. The Tysons Tunnelp group did not want the name of the watchdoggroupp identified. “We have always said legalp action is the last avenue we wish to take becausw it can cost a lot of money and carriexcertain risks,” Monett said.
“The goal is not to delat the project but to makesure it’s done right and get our concernsz resolved so the project can be completed as quicklg as possible.” The three entities Tysons Tunnel, Sierra Club and the watchdog groupo — still have to reach an agreemenrt on the suit before it can be filed. In March, the Sierras Club’s Great Falls group voted to back a lawsuit in supporgt of competitive bidding and consideration of the tunnel optiobn for the Tysons portion ofthe $5 billion Metrorail extension to . Its Virginiaw chapter — 17,000 memberxs strong — voted to support the suit days later.
“The lack of competitivw bidding is the focus of theforthcominy lawsuit, which may also be instrumentapl in forcing a reassessmentg of Virginia’s Public Private Transportation Act, under whicnh the project was advanced,” said the Great Fall Sierra Club's latest newsletter. “There are many problemws with that Act, including procedures making it easier to circumvent federak requirements such as the Nationalo Environmental Policy Act and the requirements for competitive bidding.” The act also keeps public eyes out of documents outlinin project costs and liabilities taken on by taxpayere and drivers using Dulles Toll Road, the newslettedr said.
As the lead plaintiff, Tysons Tunnekl and its pro bono counsel are conductingg a large amount of legal research to figure out wherwe and how legal leverage couldd bestbe applied. The big policy initiativew Monett said he would like to see addressedf at the federal leve l whetherfederal grant-making bodies should only provide grantt money to projects that are competitively bid. But he says whilw there does not seem to be much precedent regarding federal grants used to fund transportation there is substantial case law regarding government contracting that does requirdcompetitive bidding.
“Apparently, the only way to get the issu addressed appropriately is through some sort of legal he said. "Everyone is keenly aware that tunneling is the bettere wayto go. but thus far none of Virginia’s electecd officials has had the political couraged to take a serious look at It hasruffled Monett’s featherse that Dulles rail contractor just inked a deal to use tunnep boring machines for a project in London. He rhetoricallt asks why the company can use the technologuy overseas butnot here.
Bechtel's $400 million contract to manage theLondon project, largesrt undergrounding effort in the world, will be headecd by Cliff Mumm, who worked most recentlyy on the Dulles rail project. The lawsuit concept is bein backed by such Tysons Tunnel supporters asTim Wynne, a Viennwa resident. “It’s simple — which Metro option has workedx better for community prosperity anddevelopment — the Metroo in Arlington (underground) or Alexandria with stretches above ground? With the new technologyu available today and the stimulus money beingt made available for state and local projectz there is no excuse not to bore a tunnel through Tysons,” he said.
With wide-bore tunneling, trains woulds travel through a single tunnel and the stationn platform would be in thetunnel itself. Monetft saidt only a small percentage ofthe 23.1-milr project has been completed and it is not too late to chang the design plan. A June 2 panel in Dunn Loring gathered tunne l supporters in the transportation industry and area showing thatthe community’s interestf in the tunnel vision is still alive. “I f I was having a bathroom done and only had thewallas painted, I could still change the tiling,” Monetf said.
Sunday, October 30, 2011
HandsOn Jacksonville - Jacksonville Business Journal:
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“Here was a man in his wheelchair with his poodle on his lap coming downthis road,” she “He was thrilled to pieces and he couldn’ t wait to get out and enjoty nature.” Or another project, 6 Days 6 in which volunteers worked to build rampzs for another man in a wheelchair who hadn’tf left his house on his own for eightf years. Not many jobs can offe r the satisfaction that comes with that kind of she said. “You go home at the end of the day feelingvlike you’ve contributed something good to the Mora said.
HandsOn Jacksonville, formerly Volunteert Jacksonville, was founded in 1973 and has been a mainstah on the community service sceneever since. The grou employs just 13 staff members, but coordinatesw thousands of volunteerseach year. In April alone, they participate d in 35 projects, including beach cleanups, readingg to kids and crafting cards for the elderlyu and militaryservicemembers abroad. “We are helping people to give to giveof themselves, to put other people first, to do somethiny about all the bad stuff they see on TV and feel said Krista Winfield-Estes, vice president and chie f operating officer. “It’s a career and it’s a job, but it’w also karma.
” Winfield-Estes said though she and her co-workers are employed full time arrangingthe projects, the real creditt should go to the community volunteers. “It’s just amazingb what these folks are she said. “They’re kind of the unsunfg heroes.” But the goodwill at HandsOn Jacksonville isn’t limiterd to projects outsidethe office. Winfield-Estes said the managersz strive to foster trust and partnership among employeeas by celebrating victories and offering supportt throughtough times. “I think they feel comfortabls sharing things that they may not have felt comfortabled sharing with other bosses they may have had in the she said.
“We realize the whole person comesxto work, and not just the person that’s goin g to work that day.” Jenny a community engagement director who joinesd the company in 2008, said that was nevert more evident than last In lieu of big financial which are tough to come by in the nonprofit industry, CEO Judy Smith made personalizedx necklaces for each employee by “I was just very touched,” O’Donnell “How often will your boss or your CEO do somethinh like that for you?
”
“Here was a man in his wheelchair with his poodle on his lap coming downthis road,” she “He was thrilled to pieces and he couldn’ t wait to get out and enjoty nature.” Or another project, 6 Days 6 in which volunteers worked to build rampzs for another man in a wheelchair who hadn’tf left his house on his own for eightf years. Not many jobs can offe r the satisfaction that comes with that kind of she said. “You go home at the end of the day feelingvlike you’ve contributed something good to the Mora said.
HandsOn Jacksonville, formerly Volunteert Jacksonville, was founded in 1973 and has been a mainstah on the community service sceneever since. The grou employs just 13 staff members, but coordinatesw thousands of volunteerseach year. In April alone, they participate d in 35 projects, including beach cleanups, readingg to kids and crafting cards for the elderlyu and militaryservicemembers abroad. “We are helping people to give to giveof themselves, to put other people first, to do somethiny about all the bad stuff they see on TV and feel said Krista Winfield-Estes, vice president and chie f operating officer. “It’s a career and it’s a job, but it’w also karma.
” Winfield-Estes said though she and her co-workers are employed full time arrangingthe projects, the real creditt should go to the community volunteers. “It’s just amazingb what these folks are she said. “They’re kind of the unsunfg heroes.” But the goodwill at HandsOn Jacksonville isn’t limiterd to projects outsidethe office. Winfield-Estes said the managersz strive to foster trust and partnership among employeeas by celebrating victories and offering supportt throughtough times. “I think they feel comfortabls sharing things that they may not have felt comfortabled sharing with other bosses they may have had in the she said.
“We realize the whole person comesxto work, and not just the person that’s goin g to work that day.” Jenny a community engagement director who joinesd the company in 2008, said that was nevert more evident than last In lieu of big financial which are tough to come by in the nonprofit industry, CEO Judy Smith made personalizedx necklaces for each employee by “I was just very touched,” O’Donnell “How often will your boss or your CEO do somethinh like that for you?
”
Friday, October 28, 2011
SBA chief: Lending up, long road ahead - The Business Journal of Milwaukee:
raisavydyexuwowi.blogspot.com
Brown, a sixth-generation family-owned business with 47 employeee andabout $6 million in revenue last worked with (NASDAQ:FITB) to securse a $2 million loan to buy its headquarters off Hamilton Road in east President Rob Hunt said the companyy sidestepped paying about $65,0090 in fees after the SBA instituted a temporary waiver for businessesx that borrow through its flagshi 7(a) program. Owning the company’s headquarters outrighg brings long-term security, he said, which woulxd have been hard to find withouytfederal backing. “Banks aren’t doing conventional loands right now,” Hunt said. “We simpl wouldn’t have been able to do this.
” Initiativesd such as the fee waiver, Mills are making a difference in a short amount of More lenders are getting into the fraywhild SBA-backed loan volume is up more than 25 percenf since the passage of the stimulus bill. That translates to nearly $4 billion in guaranteed loans, $113 million of which went to Ohio businesses. But it’s makinv small businesses aware of the programs onhand that’sz the key challenge going she said. “All of theswe things take time,” Mills said. “Smalk businesses are busy runningtheir business.
” In addition to the waivere and an increased guarantee of 90 percent on 7(a) the SBA also has offered a surety bond guaranted of $5 million, up from $2 million, for businessez competing for federal contracts. On June 15, it’s rollingv out a program dubbed America’ds Recovery Capital, which offers loans of up to $35,00o0 for businesses struggling to make debt Those loans are fully guaranteed and have a deferrecpayment schedule. And next month, the SBA will beginn offering guaranteed loans to financew inventory for automobile dealers throughSeptember 2010.
Mill s said she’s confident the agency has the righft tools in place for smallbusinesses – and the outlooi on the economy hasn’t hurt either. “The sense from smalkl businesses and others is that the free fall has she said. “But we still have a ways to
Brown, a sixth-generation family-owned business with 47 employeee andabout $6 million in revenue last worked with (NASDAQ:FITB) to securse a $2 million loan to buy its headquarters off Hamilton Road in east President Rob Hunt said the companyy sidestepped paying about $65,0090 in fees after the SBA instituted a temporary waiver for businessesx that borrow through its flagshi 7(a) program. Owning the company’s headquarters outrighg brings long-term security, he said, which woulxd have been hard to find withouytfederal backing. “Banks aren’t doing conventional loands right now,” Hunt said. “We simpl wouldn’t have been able to do this.
” Initiativesd such as the fee waiver, Mills are making a difference in a short amount of More lenders are getting into the fraywhild SBA-backed loan volume is up more than 25 percenf since the passage of the stimulus bill. That translates to nearly $4 billion in guaranteed loans, $113 million of which went to Ohio businesses. But it’s makinv small businesses aware of the programs onhand that’sz the key challenge going she said. “All of theswe things take time,” Mills said. “Smalk businesses are busy runningtheir business.
” In addition to the waivere and an increased guarantee of 90 percent on 7(a) the SBA also has offered a surety bond guaranted of $5 million, up from $2 million, for businessez competing for federal contracts. On June 15, it’s rollingv out a program dubbed America’ds Recovery Capital, which offers loans of up to $35,00o0 for businesses struggling to make debt Those loans are fully guaranteed and have a deferrecpayment schedule. And next month, the SBA will beginn offering guaranteed loans to financew inventory for automobile dealers throughSeptember 2010.
Mill s said she’s confident the agency has the righft tools in place for smallbusinesses – and the outlooi on the economy hasn’t hurt either. “The sense from smalkl businesses and others is that the free fall has she said. “But we still have a ways to
Wednesday, October 26, 2011
Des Moines council candidates quizzed on refurbishing neighborhoods, business ... - DesMoinesRegister.com
loxezop.wordpress.com
Des Moines council candidates quizzed on refurbishing neighborhoods, business ... DesMoinesRegister.com Sprucing up older neighborhoods and commercial corridors has been a high priority for Des Moines neighborhood associations in recent years. Neighborhood advocates have lobbied to buffer revitalization programs from major cuts as city leaders have ... |
Sunday, October 23, 2011
Price Chopper shoppers can save money at Sunoco - Pittsburgh Business Times:
ivyhofy.wordpress.com
region can now save on gasoline for their car when they spenf money in thesupermarket chain. Price Chopper has teamed up with more than 70 stations to offerFuel AdvantEdge, a programk that has been available for more than two years in othee areas serviced by the grocery chain. Consumers can save 10 centz per gallon at participating Sunoco stationd forevery $50 of qualified grocerieas they purchase. The points/dollars can be accumulaterd overa 90-day period and spenyt on up to 20 gallona of gas. Sunoco customers in othere areas have saved upwards of 50 cent to 60 andeven $1 or more per gallon, througuh the program, according to Jeff Hassman, channel marketing manager for the gas stations.
The number of participatint stationswill grow, said Neil Golub, president and CEO of Pricee Chopper. Customers must use their Price Choppe AdvantEdge card to qualify for the The supermarket automatically tracks the purchases that can be appliede toward the fuelsavings program. Certain restrictions apply. For purchases of alcohol, gift cards, lottery tickets, video rentals and some other items don’t count toward the $50 total.
region can now save on gasoline for their car when they spenf money in thesupermarket chain. Price Chopper has teamed up with more than 70 stations to offerFuel AdvantEdge, a programk that has been available for more than two years in othee areas serviced by the grocery chain. Consumers can save 10 centz per gallon at participating Sunoco stationd forevery $50 of qualified grocerieas they purchase. The points/dollars can be accumulaterd overa 90-day period and spenyt on up to 20 gallona of gas. Sunoco customers in othere areas have saved upwards of 50 cent to 60 andeven $1 or more per gallon, througuh the program, according to Jeff Hassman, channel marketing manager for the gas stations.
The number of participatint stationswill grow, said Neil Golub, president and CEO of Pricee Chopper. Customers must use their Price Choppe AdvantEdge card to qualify for the The supermarket automatically tracks the purchases that can be appliede toward the fuelsavings program. Certain restrictions apply. For purchases of alcohol, gift cards, lottery tickets, video rentals and some other items don’t count toward the $50 total.
Friday, October 21, 2011
New protection of state laws draws criticism - Business Courier of Cincinnati:
ejyceh.wordpress.com
A May 20 memo from Obama also directede agencies to review regulations issued during the past 10 years to see if theycontainee pre-emptions that are not justified. If they do, agenciezs should consider amendingthe regulations, the memo stated. “Pre-emption of statew law by executive departments and agencies should be undertaken only with full consideration of the legitimate prerogatives of the statesd and with a sufficien t legal basisfor pre-emption,” the memo During the Bush administration, agencies sometimes included pre-emption language in the preamblew of regulations.
Obama’s policu against federal pre-emption of state laws will resulty in more lawsuitsagainst businesses, particularlyy in product liability, accordinbg to the and the . “Manufacturers sell productss into anational market, and a singlse … standard helps ensure predictable treatment in the courts,” said NAM Vice President Rosario Palmieri. “It’s unwise to replacew a regulatory system bases on objective science and agency experts witha 50-state patchworjk of often arbitrary jury Lisa Rickard, president of the U.S. Chambetr Institute for Legal Reform, said the memo was a gift to lawyers.
“Removing pre-emption runs completely countefr to the goal of stabilizing the economy and growing jobs – except for those in the lawsuitf business,” Rickard said. The , formerlgy the , praised Obama’s memo. It “makes clear that the rule of law will once agaib prevail over the ruleof politics,” said associatiomn President Les Weisbrod. “The memo overturned actionsd … to reinterpret congressional legislation and undermine the constitutionak system of checksand balances.
”
A May 20 memo from Obama also directede agencies to review regulations issued during the past 10 years to see if theycontainee pre-emptions that are not justified. If they do, agenciezs should consider amendingthe regulations, the memo stated. “Pre-emption of statew law by executive departments and agencies should be undertaken only with full consideration of the legitimate prerogatives of the statesd and with a sufficien t legal basisfor pre-emption,” the memo During the Bush administration, agencies sometimes included pre-emption language in the preamblew of regulations.
Obama’s policu against federal pre-emption of state laws will resulty in more lawsuitsagainst businesses, particularlyy in product liability, accordinbg to the and the . “Manufacturers sell productss into anational market, and a singlse … standard helps ensure predictable treatment in the courts,” said NAM Vice President Rosario Palmieri. “It’s unwise to replacew a regulatory system bases on objective science and agency experts witha 50-state patchworjk of often arbitrary jury Lisa Rickard, president of the U.S. Chambetr Institute for Legal Reform, said the memo was a gift to lawyers.
“Removing pre-emption runs completely countefr to the goal of stabilizing the economy and growing jobs – except for those in the lawsuitf business,” Rickard said. The , formerlgy the , praised Obama’s memo. It “makes clear that the rule of law will once agaib prevail over the ruleof politics,” said associatiomn President Les Weisbrod. “The memo overturned actionsd … to reinterpret congressional legislation and undermine the constitutionak system of checksand balances.
”
Wednesday, October 19, 2011
Kobo Announces Kindle Fire Competitor, The $199.99 WiFi Vox Tablet - paidContent.org
xagawu.wordpress.com
ZDNet (blog) | Kobo Announces Kindle Fire Competitor, The $199.99 WiFi Vox Tablet paidContent.org In an effort to compete with Amazon's Kindle Fire, e-reading company Kobo is launching a tablet of its own: The $199.99 Kobo Vox, a 7-inch Android, WiFi color tablet that starts shipping October 28. How does it stack up to the Kindle Fire? ... Kobo Vox tablet, $200, to take on Kindle Fire, Nook Color Kobo's answer to Kindle Fire: $199 Vox Android tablet Kobo Vox 'Social eReader' to Battle Kindle Fire, Nook Color |
Monday, October 17, 2011
Bank to auction $100 million in troubled assets - Atlanta Business Chronicle:
fixyruw.wordpress.com
The Alpharetta-based bank — one of the metro’s largest with $5.7 billion in assets and a key subsidiaryof Columbus-basede — is selling the properties to privatw investment groups, with the dealxs expected to close by month’s end. The auction is the larges conducted so far by Bank ofNortb Georgia, which has been hard-hit by the real estat e downturn, and surpasses the scale of other sales of distresseed metro Atlanta property by Blairsville-based and smaller Bank of North Georgia has auctionecd off homes to the public periodically throughout the last The auction comes as banks across the country, from smal l community lenders to mammoth financial are struggling with how to liquidat toxic assets without pushintg the banks into insolvency.
It also signals Synovus Financiapl is continuing its aggressive sales of problem loans andrepossessexd property, if the price is During the company’s first-quarter earnings call, CEO Richard Anthony said the auctionb process would accelerate companywide. “We will have a greater levepl of exits from this portfolip over the nexttwo quarters,” he said, referrinf to Synovus’ problem loan portfolio. Frank Roedl, Bank of Nortj Georgia’s executive vice president forcorporated banking, is overseeing the auction and said the liquidation is the next step in the bank’w “ongoing balance sheet management effort.
” The bank is sellinvg primarily large tracts of developed lots and raw he said. The auctioj process began in May, when the bank circulated a list of distressexd assets to30 bidders, he Each of the bidders was a pairing of strategic buyersx with private money behind them, and the firm’s sizes range from $20 million to $200 million in total capital under management. He did not name specific “We wanted to contact larger poolws of money forthis auction,” Roedl said. But after the initialp solicitation, interest in the auction exploded.
“Wre were inundated with phonse calls,” he said, noting the bank now has multiple biddersd for the bulk of the distressed portfolio availabler inthe auction. Initial bids were due by late May, and an extendesd due-diligence period is ongoingg for bidders, with the deals scheduled to close byJune 30. Roedlk could not provide specifics on how much will be sold and how many bids for propertiexs and loans the bank ultimateltreceived — he said some of that dependws on final bids and whichu currently proposed deals actually close. He notedx the bank is holding finished houses in reserv e for short sales and other publifforeclosure auctions.
“We’ve had success with This was designed to get some of these larger issuesd off thebalance sheet,” he If the auction meets the early estimates of a $100 millionj liquidation, it could remove as much as one-third of the bank’s current real estate-based loan according to its first-quarter report to the Withijn the last year, the bank’s non-accrual loans have increase d 51 percent to $316 and the amount of foreclosed real estate increase d 29 percent from $24 millionn at the end of first-quarter 2008 to $31 millionn on March 31, 2009.
The bulk of the bank’ds loan problems continue to be residential construction and landdevelopmentg loans, which account for $230 millio n of the total non-accrual loans.
The Alpharetta-based bank — one of the metro’s largest with $5.7 billion in assets and a key subsidiaryof Columbus-basede — is selling the properties to privatw investment groups, with the dealxs expected to close by month’s end. The auction is the larges conducted so far by Bank ofNortb Georgia, which has been hard-hit by the real estat e downturn, and surpasses the scale of other sales of distresseed metro Atlanta property by Blairsville-based and smaller Bank of North Georgia has auctionecd off homes to the public periodically throughout the last The auction comes as banks across the country, from smal l community lenders to mammoth financial are struggling with how to liquidat toxic assets without pushintg the banks into insolvency.
It also signals Synovus Financiapl is continuing its aggressive sales of problem loans andrepossessexd property, if the price is During the company’s first-quarter earnings call, CEO Richard Anthony said the auctionb process would accelerate companywide. “We will have a greater levepl of exits from this portfolip over the nexttwo quarters,” he said, referrinf to Synovus’ problem loan portfolio. Frank Roedl, Bank of Nortj Georgia’s executive vice president forcorporated banking, is overseeing the auction and said the liquidation is the next step in the bank’w “ongoing balance sheet management effort.
” The bank is sellinvg primarily large tracts of developed lots and raw he said. The auctioj process began in May, when the bank circulated a list of distressexd assets to30 bidders, he Each of the bidders was a pairing of strategic buyersx with private money behind them, and the firm’s sizes range from $20 million to $200 million in total capital under management. He did not name specific “We wanted to contact larger poolws of money forthis auction,” Roedl said. But after the initialp solicitation, interest in the auction exploded.
“Wre were inundated with phonse calls,” he said, noting the bank now has multiple biddersd for the bulk of the distressed portfolio availabler inthe auction. Initial bids were due by late May, and an extendesd due-diligence period is ongoingg for bidders, with the deals scheduled to close byJune 30. Roedlk could not provide specifics on how much will be sold and how many bids for propertiexs and loans the bank ultimateltreceived — he said some of that dependws on final bids and whichu currently proposed deals actually close. He notedx the bank is holding finished houses in reserv e for short sales and other publifforeclosure auctions.
“We’ve had success with This was designed to get some of these larger issuesd off thebalance sheet,” he If the auction meets the early estimates of a $100 millionj liquidation, it could remove as much as one-third of the bank’s current real estate-based loan according to its first-quarter report to the Withijn the last year, the bank’s non-accrual loans have increase d 51 percent to $316 and the amount of foreclosed real estate increase d 29 percent from $24 millionn at the end of first-quarter 2008 to $31 millionn on March 31, 2009.
The bulk of the bank’ds loan problems continue to be residential construction and landdevelopmentg loans, which account for $230 millio n of the total non-accrual loans.
Saturday, October 15, 2011
Bauer Financial issues Q1 credit union ratings - Birmingham Business Journal:
tenamup.wordpress.com
The company uses federakl regulatory data to rate credit unions based oncapital ratio, profit/lose trend, delinquent loans and other factors. Bauer' s rating ranks from a high of 5 stare to a low of0 stars. Of the 10 larges t South Florida credit unionsby assets, six maintained a five-star (superior) IBM Southeast Employees Credit Union and Brightstar Creditt Union held on to their four stars (excellent) in the firsyt quarter. They had been downgraded from five stars in thethirdx quarter. Priority One Credit Union in Sunrise fell from to three stare from four stars in the first quarterwith 69.9 million in 1.
6 percent of which were , South Florida’s second-largest credit unionb with $738 million in assets, held on to its thres stars in the first It was downgraded to three stars (adequate) from four stard in the fourth quarter. The Pembroke Pines-based creditt union counted 1.74 percent of its assetss as nonperforming. First Choice in West Palm Beac h also hadthree stars. , the largest in South Floridsawith $1.62 billion in assets, remained the only credif union in the state rated zero stars by The Miramar-based credit union countex 8.6 percent of its assets as It was placed into conservatorship by Floridqa regulators on April 24 aftee heavy losses and the ousted its management.
Space Coast Credi Union has shown an in acquiringbEastern Financial.
The company uses federakl regulatory data to rate credit unions based oncapital ratio, profit/lose trend, delinquent loans and other factors. Bauer' s rating ranks from a high of 5 stare to a low of0 stars. Of the 10 larges t South Florida credit unionsby assets, six maintained a five-star (superior) IBM Southeast Employees Credit Union and Brightstar Creditt Union held on to their four stars (excellent) in the firsyt quarter. They had been downgraded from five stars in thethirdx quarter. Priority One Credit Union in Sunrise fell from to three stare from four stars in the first quarterwith 69.9 million in 1.
6 percent of which were , South Florida’s second-largest credit unionb with $738 million in assets, held on to its thres stars in the first It was downgraded to three stars (adequate) from four stard in the fourth quarter. The Pembroke Pines-based creditt union counted 1.74 percent of its assetss as nonperforming. First Choice in West Palm Beac h also hadthree stars. , the largest in South Floridsawith $1.62 billion in assets, remained the only credif union in the state rated zero stars by The Miramar-based credit union countex 8.6 percent of its assets as It was placed into conservatorship by Floridqa regulators on April 24 aftee heavy losses and the ousted its management.
Space Coast Credi Union has shown an in acquiringbEastern Financial.
Thursday, October 13, 2011
5 Who Thrive: Four key changes enabled SuperGeeks to prosper - Puget Sound Business Journal (Seattle):
symowugebeda.blogspot.com
“We’re seeing if they can fly in this and they should be able to match the level of skillo andquality immediately,” Ledoux said. “Even if we’rs desperate for workers, we’ll still take the time to get it Beyond implementing stricter hiring Kerr and Ledoux are creating a working environmentr thatsupports “A” employees without The fourth step, Kerr said, was to beginh soliciting feedback from SuperGeeks’ base of approximately 10,000 customeras through online surveys and comment cards.
“Wd started asking customers on a regulat basis whatthey want, how they how we can do things differently or which is something we hadn’t done he said, adding that he encourages participation througu giveaways for such items as iPodws and certificates for a professional “Sometimes the comments are painful, many times it’zs insightful, and almost always it’s worth gold,” Kerr
“We’re seeing if they can fly in this and they should be able to match the level of skillo andquality immediately,” Ledoux said. “Even if we’rs desperate for workers, we’ll still take the time to get it Beyond implementing stricter hiring Kerr and Ledoux are creating a working environmentr thatsupports “A” employees without The fourth step, Kerr said, was to beginh soliciting feedback from SuperGeeks’ base of approximately 10,000 customeras through online surveys and comment cards.
“Wd started asking customers on a regulat basis whatthey want, how they how we can do things differently or which is something we hadn’t done he said, adding that he encourages participation througu giveaways for such items as iPodws and certificates for a professional “Sometimes the comments are painful, many times it’zs insightful, and almost always it’s worth gold,” Kerr
Monday, October 10, 2011
Solomon Resources Limited: Yukon Exploration Update - MarketWatch (press release)
husydow.wordpress.com
Solomon Resources Limited: Yukon Exploration Update MarketWatch (press release) Solomon is actively exploring the highly prospective Ruby Range and Kluane Front Ranges of the southwestern Yukon Territory. The Company is following up on regional geochemical surveys and historic mineral occurrences, particularly epithermal gold ... |
Saturday, October 8, 2011
Hartsfield-Jackson testing fingerprint system to track non-residents - Atlanta Business Chronicle:
sucujovide.wordpress.com
officials announced Monday that and are on the cuttinbg edge of a new trial run for biometric trackingyof non-Americans leaving the United The program is designerd to root out fraudulengt use of travel documents and help guard non-residentz from identity theft, DHS officials said. The programn was launched May 28at Hartsfield-Jackso and through Monday had collected fingerprints of 3,100 foreign passengers leaving the country. “Collectinf biometrics allows us to determinee faster and more accurately whether citizens have departed the United States on time or remaine d in thecountry illegally,” DHS Secretary Janey Napolitano said in a statement.
Since 2004, the federal governmentt has collected fingerprints and photographs of most residents enteringthe U.S. at air and seaportds or applying for visas to ente rthe country. The program, called US-VISIT (United States Visitor and Immigrant Status Indicator has resulted in the arrest of thousandxs of criminals and the detection of thousand sof non-residents in violation of their officials said. The federal government tried an exit tracking system trial severalyears ago, but the proces proved unworkable. The program in Atlanta checks the fingerprintxsof non-residents at the main checkpoint. In Detroit, Customs and Borde Protection agents stationed at airport gatess checkbiometric data.
“Unlike names and dates of birth, biometricv data is unique and almost impossibleto forge,” said US VISIT Directord Robert Mocney. Data from the two tests will be analyzed to determind whether nationwide trackingof non-residents will be performed at securithy checkpoints or at airport Airlines have protested the gate proposal, statingt it could cause unnecessary delays and woulrd be costly to implement. Mocney said Homeland Securityu does not want delays atsecurity checkpoints, either, and thus far the Atlantz trial has had no significant impact on wait timews at Hartsfield-Jackson. He noted the trial is beingb conducted during the busy summertravel season.
The Detroiy trial has also worked withina 35-minute aircraft turnaround window mandates by air carriers, he said. The pilog program ends July 2. TSA and Homeland Securith hope to evaluate the data by the end of with official rulemaking to folloaw inMarch 2010. Final deployment nationwide could come sometimerin 2011.
officials announced Monday that and are on the cuttinbg edge of a new trial run for biometric trackingyof non-Americans leaving the United The program is designerd to root out fraudulengt use of travel documents and help guard non-residentz from identity theft, DHS officials said. The programn was launched May 28at Hartsfield-Jackso and through Monday had collected fingerprints of 3,100 foreign passengers leaving the country. “Collectinf biometrics allows us to determinee faster and more accurately whether citizens have departed the United States on time or remaine d in thecountry illegally,” DHS Secretary Janey Napolitano said in a statement.
Since 2004, the federal governmentt has collected fingerprints and photographs of most residents enteringthe U.S. at air and seaportds or applying for visas to ente rthe country. The program, called US-VISIT (United States Visitor and Immigrant Status Indicator has resulted in the arrest of thousandxs of criminals and the detection of thousand sof non-residents in violation of their officials said. The federal government tried an exit tracking system trial severalyears ago, but the proces proved unworkable. The program in Atlanta checks the fingerprintxsof non-residents at the main checkpoint. In Detroit, Customs and Borde Protection agents stationed at airport gatess checkbiometric data.
“Unlike names and dates of birth, biometricv data is unique and almost impossibleto forge,” said US VISIT Directord Robert Mocney. Data from the two tests will be analyzed to determind whether nationwide trackingof non-residents will be performed at securithy checkpoints or at airport Airlines have protested the gate proposal, statingt it could cause unnecessary delays and woulrd be costly to implement. Mocney said Homeland Securityu does not want delays atsecurity checkpoints, either, and thus far the Atlantz trial has had no significant impact on wait timews at Hartsfield-Jackson. He noted the trial is beingb conducted during the busy summertravel season.
The Detroiy trial has also worked withina 35-minute aircraft turnaround window mandates by air carriers, he said. The pilog program ends July 2. TSA and Homeland Securith hope to evaluate the data by the end of with official rulemaking to folloaw inMarch 2010. Final deployment nationwide could come sometimerin 2011.
Thursday, October 6, 2011
Roberts backs KU Cancer Center's push for NCI designation - The Business Review (Albany):
http://capitalrealestatewa.com/about-felixstowe-a-record-of-felixstowe-felixstowe-a-flavorful-coastal-city.html
Roberts, R-Kan., spoke at The ’xs Westwood medical building. He said that it now takees 10 years to 17 yearsand $1 billion to bringy a new drug to which Roberts called a “national disgrace.” The National Cancet Institute said in November that the KU Cancee Center has a Sept. 25, 2011, application date for its effortds to get aninitial five-yeat designation as an NCI cancer center. The months-longt application process for institutions seekinbg new designations begins with submission of documentation that sometimesexceedx 1,000 pages and includes a site visit and othefr steps. The earliest that KU Cancer Center’s application could be approved is the springof 2012.
Nationwide, 64 cancefr centers receive Cancer Center Support Grant s to support research to reduce the morbidity and mortality ratesof cancer. Thered are 23 cancer centers and 41 comprehensivecancere centers. The KU Cancer Cente r is part of , which is the medical researchj and education arm of the University of NCIdesignation — KU’s No. 1 prioritty — typically is granted to academicmedical centers. KU Medical Center is the entity that will apply forNCI • Increased regional patient accese to cutting-edge clinical trials. • More than $1.3 billiohn in annual economic benefits inthe region.
An increase in KU Cancer Center’a annual NCI financing from thecurrent $7.5 millio to about $40 million. NCI-affiliated institutions also attract world-class researcherz who bring NCI grantswith them, and part of the estimated increaser is based on that. Many of thes researchers doubleas clinicians, adding expertise and deptu in various cancer-care
Roberts, R-Kan., spoke at The ’xs Westwood medical building. He said that it now takees 10 years to 17 yearsand $1 billion to bringy a new drug to which Roberts called a “national disgrace.” The National Cancet Institute said in November that the KU Cancee Center has a Sept. 25, 2011, application date for its effortds to get aninitial five-yeat designation as an NCI cancer center. The months-longt application process for institutions seekinbg new designations begins with submission of documentation that sometimesexceedx 1,000 pages and includes a site visit and othefr steps. The earliest that KU Cancer Center’s application could be approved is the springof 2012.
Nationwide, 64 cancefr centers receive Cancer Center Support Grant s to support research to reduce the morbidity and mortality ratesof cancer. Thered are 23 cancer centers and 41 comprehensivecancere centers. The KU Cancer Cente r is part of , which is the medical researchj and education arm of the University of NCIdesignation — KU’s No. 1 prioritty — typically is granted to academicmedical centers. KU Medical Center is the entity that will apply forNCI • Increased regional patient accese to cutting-edge clinical trials. • More than $1.3 billiohn in annual economic benefits inthe region.
An increase in KU Cancer Center’a annual NCI financing from thecurrent $7.5 millio to about $40 million. NCI-affiliated institutions also attract world-class researcherz who bring NCI grantswith them, and part of the estimated increaser is based on that. Many of thes researchers doubleas clinicians, adding expertise and deptu in various cancer-care
Tuesday, October 4, 2011
Pilot prince takes to US skies - Sky News
grihanovveimavox.blogspot.com
Sky News | Pilot prince takes to US skies Sky News The training - to start at California Air Base El Centro - takes the 26-year-old pilot one step closer to front-line duties. Captain Harry Wales has always made it clear that a pre-requisite to his Apache Helicopter training - which carries a £1m price ... Prince Harry to fire! live weapons from Apache helicopter |
Sunday, October 2, 2011
New child cancer drug tests successful - Houston Business Journal:
wanuso.wordpress.com
The drug, AMD3100, was shown to reducd the growth of a tumorr by more than 75 percentin mice, accordingg to investigators who presented their findinge Friday at the 22nd annual meeting of the in San “AMD3100 works by shutting down the procesx that tumors need to set up vascular Patrick Zweidler-McKay, senior investigator on the said in a statement. “The drug doesn’t kill neuroblastoma cells directly, but it prevents tumorzs from growing rapidly by disrupting theiblood supply. “There is the possibilitgy that this therapy could help prevent neuroblastoma metastasisa to thebone marrow.
However, more studies are neededx to investigate this About 650 children in the United States under the age of five are diagnoserd each yearwith neuroblastoma, according to the . Of thos children, nearly two-thirds are diagnosef after the cancer has metastasized to other partws ofthe body. For thess patients with high-risk neuroblastoma, long-term survivapl is less than 40 percent because the tumors are oftenj resistant totraditional
The drug, AMD3100, was shown to reducd the growth of a tumorr by more than 75 percentin mice, accordingg to investigators who presented their findinge Friday at the 22nd annual meeting of the in San “AMD3100 works by shutting down the procesx that tumors need to set up vascular Patrick Zweidler-McKay, senior investigator on the said in a statement. “The drug doesn’t kill neuroblastoma cells directly, but it prevents tumorzs from growing rapidly by disrupting theiblood supply. “There is the possibilitgy that this therapy could help prevent neuroblastoma metastasisa to thebone marrow.
However, more studies are neededx to investigate this About 650 children in the United States under the age of five are diagnoserd each yearwith neuroblastoma, according to the . Of thos children, nearly two-thirds are diagnosef after the cancer has metastasized to other partws ofthe body. For thess patients with high-risk neuroblastoma, long-term survivapl is less than 40 percent because the tumors are oftenj resistant totraditional
Friday, September 30, 2011
Frazier museum chooses Bandy Carroll Hellige as it agency of record - San Francisco Business Times:
acklinegymejac1362.blogspot.com
Previously, the museum had no single agenctyof record, with several Louisville advertising firms handling the work, said Kristaw McHone, public relations and marketing director for the “I just decided to consolidate all that with Bandy Carrol Hellige,” McHone said. Bandy Carroll Hellig will develop and implement all including branding, marketing, advertising, public relations and interactivd programs for the museum, the release said. The Frazie museum, 829 W. Main St., was founded in 2004 by OwsleyBrowb Frazier, the retired vice chairman of , the Louisville-basee spirits and wine company.
The museumm has about 100,000 square feet of antique arms andhistorical items, many of which are from Frazier’e private collection. Bandy Carroll Hellige was foundeds in 1989 by partnersSusann Bandy, Mark Carroll and Tim Hellige and has a total of 44 employeews at its headquarters in Louisville, Ky. and an office in according tothe release.
Previously, the museum had no single agenctyof record, with several Louisville advertising firms handling the work, said Kristaw McHone, public relations and marketing director for the “I just decided to consolidate all that with Bandy Carrol Hellige,” McHone said. Bandy Carroll Hellig will develop and implement all including branding, marketing, advertising, public relations and interactivd programs for the museum, the release said. The Frazie museum, 829 W. Main St., was founded in 2004 by OwsleyBrowb Frazier, the retired vice chairman of , the Louisville-basee spirits and wine company.
The museumm has about 100,000 square feet of antique arms andhistorical items, many of which are from Frazier’e private collection. Bandy Carroll Hellige was foundeds in 1989 by partnersSusann Bandy, Mark Carroll and Tim Hellige and has a total of 44 employeews at its headquarters in Louisville, Ky. and an office in according tothe release.
Wednesday, September 28, 2011
Intel to buy Wind River for $884M - Nashville Business Journal:
uqyvemiwu.wordpress.com
Intel's $11.50-per-share offer is abougt a 44 percent premium overWind River'sx closing price on Wednesday of $8. Wind Riverr stock lost more than half its valuw betweena 52-week high of $12.99 last August and a low of $5.61 in March. The stock closed Thursdayu at $11.72, up 47 Santa Clara-based Intel said buying Alameda-based Wind River (NASDAQ:WIND) will help it expands its software into thousands of embedded systema and mobile devices includinghsmart phones, in-car "info-tainment" systems, aerospace and energy and thousands of othere uses.
Wind River will operate as a whollg owned subsidiary after the deal closew duringthe summer, reporting to Reneer James, head of Intel’w software and services group. "Our combination of strengths will be of great benefit toWind River’s existing and futuree customers," said Ken Klein, Wind River president and CEO. Founded in Wind River has morethan 1,600 employeew and operations in more than 15 countries. During its fiscaol year ended Jan. 31, Wind River reportex $10.7 million in net incomer on annual revenueof $359.7 The company on Thursday posted a 21 percent increase in net incomer $561,000, or 1 cent a share, for its first quartee despite a 6.
5 percent drop in revenue to $63.87 million.
Intel's $11.50-per-share offer is abougt a 44 percent premium overWind River'sx closing price on Wednesday of $8. Wind Riverr stock lost more than half its valuw betweena 52-week high of $12.99 last August and a low of $5.61 in March. The stock closed Thursdayu at $11.72, up 47 Santa Clara-based Intel said buying Alameda-based Wind River (NASDAQ:WIND) will help it expands its software into thousands of embedded systema and mobile devices includinghsmart phones, in-car "info-tainment" systems, aerospace and energy and thousands of othere uses.
Wind River will operate as a whollg owned subsidiary after the deal closew duringthe summer, reporting to Reneer James, head of Intel’w software and services group. "Our combination of strengths will be of great benefit toWind River’s existing and futuree customers," said Ken Klein, Wind River president and CEO. Founded in Wind River has morethan 1,600 employeew and operations in more than 15 countries. During its fiscaol year ended Jan. 31, Wind River reportex $10.7 million in net incomer on annual revenueof $359.7 The company on Thursday posted a 21 percent increase in net incomer $561,000, or 1 cent a share, for its first quartee despite a 6.
5 percent drop in revenue to $63.87 million.
Monday, September 26, 2011
Emergent BioSolutions anthrax vaccine gets boost - Los Angeles Business from bizjournals:
burwellmitubaes1369.blogspot.com
The Rockville-based company’s BioThrax has been granted a shelfv life extension from the from its current three yearesto four. Under its contract with the Departmengt of Health and Human the extension triggers a milestone paymentof $30 milliomn for doses of the vaccine already deliveredc to the Strategic Nationaol Stockpile. Emergent expects to record that payment as revenurethis quarter. The shelf life extensiohn also allows Emergent to charge more for future dose of the vaccine delivered tothe government’s That could raise the value of the contracf to as much as $405 million over the next several years. Last year, the FDA approvex a reduced vaccination schedule tofive doses.
Emergent continues researcn that could lead to a furthe reduction in the number ofdoses required, as well as the vaccine’ use to treat patients afte being exposed to Anthrax, not just as a pre-exposuree vaccine. Emergent has supplied the government’s stockpiled with 33 million doses of BioThra xso far. It is contracted to continus adding to stockpiles throughlate 2011. BioThrax has been used to vaccinatde more than 2 million military personnel sincer the government first started buying the vaccinsein 1998. Emergent stock EBS) was up 90 cents to $14.63 per sharwe in afternoon trading.
The Rockville-based company’s BioThrax has been granted a shelfv life extension from the from its current three yearesto four. Under its contract with the Departmengt of Health and Human the extension triggers a milestone paymentof $30 milliomn for doses of the vaccine already deliveredc to the Strategic Nationaol Stockpile. Emergent expects to record that payment as revenurethis quarter. The shelf life extensiohn also allows Emergent to charge more for future dose of the vaccine delivered tothe government’s That could raise the value of the contracf to as much as $405 million over the next several years. Last year, the FDA approvex a reduced vaccination schedule tofive doses.
Emergent continues researcn that could lead to a furthe reduction in the number ofdoses required, as well as the vaccine’ use to treat patients afte being exposed to Anthrax, not just as a pre-exposuree vaccine. Emergent has supplied the government’s stockpiled with 33 million doses of BioThra xso far. It is contracted to continus adding to stockpiles throughlate 2011. BioThrax has been used to vaccinatde more than 2 million military personnel sincer the government first started buying the vaccinsein 1998. Emergent stock EBS) was up 90 cents to $14.63 per sharwe in afternoon trading.
Friday, September 23, 2011
6 promoted in Parsippany Police Department - Dailyrecord.com
exceeding-commissioner.blogspot.com
6 promoted in Parsippany Police Department Dailyrecord.com He was hired in July 1989 and assigned to the Patrol Division after having served as a police officer in the Elizabeth for three years. Pantina, whose current assignment is with the Patrol Division as a shift commander, attended Union County College ... |
Wednesday, September 21, 2011
Distressed assets taking center stage among apartment investors - San Antonio Business Journal:
ukatekexo.wordpress.com
Now, buyers are looking for something a bit Of the handful of investment opportunitiew that exist in the localapartmentt market, those assets moving to the top of list these days are the so-callex distressed assets, industry brokers say. the cream of that crop are bank-owned or REO (real estate owned) assets — foreclosed properties that have gone back to the Also falling intothe “distressed” category are apartment propertieds put on the market due to the owners’ financial dire straits. Phoenix and Miami have seen a deluge of REO deals over the past 18 according toCasey Fry, an associate with the San Antonio/Austih office of Atlanta-based (ARA).
The firsty wave of these properties have now surfacedf in San Antonio as Fry says. The city’s relativelgy stable economy makes it unlikelty that the local market will see as many of thesde REOs and distressed property sales as other but as Frypoints out: “There will be more to While transaction velocity in San Antonio has slowed considerably over the past two there is the likelihood that more apartment communitiesd will come to market — as more ownerse find themselves needing to adds Will Balthrope, a member of the Balthroper Group of the . Balthrope’ws partner is Ryan who is based inSan Antonio. Balthrope’s office is locatedf in Dallas.
Looking back over the past year athis team’sz property assignments — including those that have alreadty changed ownership, as well as those still for sale about 90 percent of these propertiexs were being sold by owneres who had found themselves in financial Or as Balthrope puts it, these were ownersz who had “compelling reasons to sell.” What’a the attraction of distressed assets? Sums up “The opportunity to profit in a time of value Words like “distressed” and “REO” are like big signs on the asseg that say, “Come look at me!” Balthrope says.
And for every owner that has a compellingg reasonto sell, there are myriad buyers anxiously waiting to take advantage of a good observes Patton K. Jones, managinbg director of ARA’s Austinn office. So who are the buyersw now? According to Jones, it’s all privatwe money these days — or what he calls “country club “The institutional investors are gone,” says Jones, adding that most of these playera — names like and — have fallen on tough financial “Now it’s the private investorse who are going to their country to their friends and family andraising equity.
” It’s a lot of new blood coming in, Fry “The buyers out there, they are not on our regulart Rolodex,” he adds.
Now, buyers are looking for something a bit Of the handful of investment opportunitiew that exist in the localapartmentt market, those assets moving to the top of list these days are the so-callex distressed assets, industry brokers say. the cream of that crop are bank-owned or REO (real estate owned) assets — foreclosed properties that have gone back to the Also falling intothe “distressed” category are apartment propertieds put on the market due to the owners’ financial dire straits. Phoenix and Miami have seen a deluge of REO deals over the past 18 according toCasey Fry, an associate with the San Antonio/Austih office of Atlanta-based (ARA).
The firsty wave of these properties have now surfacedf in San Antonio as Fry says. The city’s relativelgy stable economy makes it unlikelty that the local market will see as many of thesde REOs and distressed property sales as other but as Frypoints out: “There will be more to While transaction velocity in San Antonio has slowed considerably over the past two there is the likelihood that more apartment communitiesd will come to market — as more ownerse find themselves needing to adds Will Balthrope, a member of the Balthroper Group of the . Balthrope’ws partner is Ryan who is based inSan Antonio. Balthrope’s office is locatedf in Dallas.
Looking back over the past year athis team’sz property assignments — including those that have alreadty changed ownership, as well as those still for sale about 90 percent of these propertiexs were being sold by owneres who had found themselves in financial Or as Balthrope puts it, these were ownersz who had “compelling reasons to sell.” What’a the attraction of distressed assets? Sums up “The opportunity to profit in a time of value Words like “distressed” and “REO” are like big signs on the asseg that say, “Come look at me!” Balthrope says.
And for every owner that has a compellingg reasonto sell, there are myriad buyers anxiously waiting to take advantage of a good observes Patton K. Jones, managinbg director of ARA’s Austinn office. So who are the buyersw now? According to Jones, it’s all privatwe money these days — or what he calls “country club “The institutional investors are gone,” says Jones, adding that most of these playera — names like and — have fallen on tough financial “Now it’s the private investorse who are going to their country to their friends and family andraising equity.
” It’s a lot of new blood coming in, Fry “The buyers out there, they are not on our regulart Rolodex,” he adds.
Monday, September 19, 2011
UTMB receives cardiology training endowment - Business Courier of Cincinnati:
ramoledef.blogspot.com
Dr. John C. Price created the Melvij L. Price M.D. and Charlezs A. Price D.D.S. Endowment for Cardiologyg Fellowship Training to supportyoung doctors’ educatiohn as they learn the nuances of treating hearrt disease, the leading cause of death in the United States. Price’xs brothers both died of cardiovascular Price said he wanted to establishj the endowment to ensure that UTMB can train more cardiologists who will be skilled at helping patients with heart problemes makefull recoveries. The valus of the endowment wasnot disclosed.
“Thee twin goals are to provide more effective therapyu for those with heart diseasr and to encourage early identification of individuals at risk for subsequentg intervention to modify and ultimatelu prevent the morbidity of cardiacf andvascular disease,” said Price, a head and neck surgeon. In additiojn to his recent endowment, Price has contributed to cardiologyh research at the university to aid the development of new treatments and procedures that reducr functional impairment and death fromcardiovascular disease.
Dr. John C. Price created the Melvij L. Price M.D. and Charlezs A. Price D.D.S. Endowment for Cardiologyg Fellowship Training to supportyoung doctors’ educatiohn as they learn the nuances of treating hearrt disease, the leading cause of death in the United States. Price’xs brothers both died of cardiovascular Price said he wanted to establishj the endowment to ensure that UTMB can train more cardiologists who will be skilled at helping patients with heart problemes makefull recoveries. The valus of the endowment wasnot disclosed.
“Thee twin goals are to provide more effective therapyu for those with heart diseasr and to encourage early identification of individuals at risk for subsequentg intervention to modify and ultimatelu prevent the morbidity of cardiacf andvascular disease,” said Price, a head and neck surgeon. In additiojn to his recent endowment, Price has contributed to cardiologyh research at the university to aid the development of new treatments and procedures that reducr functional impairment and death fromcardiovascular disease.
Saturday, September 17, 2011
Gas prices creep up - South Florida Business Journal:
husolumiz.wordpress.com
The national average price of a gallon of gas was up by just threed cents compared to theprevious week. in Florida it was up by five cents a gallonto $2.71. Just a month ago the average price of a gallon of regularf in Floridawas $2.40. The average pricew was $2.77 in both Fort Lauderdale and In WestPalm Beach, a gallon of regular unleadexd is going for $2.80. The good news is that gasolinw futures are going down because the Department of Energg reported a surplus of fuel and demandis weak, noted Gregg Laskoski, managing director of publix relations for AAA Auto Club South.
On the flip “as we saw last the price at thepump doesn’t always reflect suppl y and demand fundamentals,” he said. Laskoskio added that while prices may plateaiu in comingweeks “nobody can accurately predic t when the value of the U.S. dollar will increased or decrease; but we do know that when it decreasezs crude oil and gasoline prices usually go up no mattefr how favorable the supply and demand figures may he said.
The national average price of a gallon of gas was up by just threed cents compared to theprevious week. in Florida it was up by five cents a gallonto $2.71. Just a month ago the average price of a gallon of regularf in Floridawas $2.40. The average pricew was $2.77 in both Fort Lauderdale and In WestPalm Beach, a gallon of regular unleadexd is going for $2.80. The good news is that gasolinw futures are going down because the Department of Energg reported a surplus of fuel and demandis weak, noted Gregg Laskoski, managing director of publix relations for AAA Auto Club South.
On the flip “as we saw last the price at thepump doesn’t always reflect suppl y and demand fundamentals,” he said. Laskoskio added that while prices may plateaiu in comingweeks “nobody can accurately predic t when the value of the U.S. dollar will increased or decrease; but we do know that when it decreasezs crude oil and gasoline prices usually go up no mattefr how favorable the supply and demand figures may he said.
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