Wednesday, December 14, 2011

ABQ housing starts hit new low - South Florida Business Journal:

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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:

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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:

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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.

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

San Francisco Chronicle


Fears of downgrade for top-rated eurozone countries threaten to undo leaders ...

Irish Independent


AP sources: S&P could put eurozone on credit watch

eTaiwan News


msnbc.com -Irish Examiner


 »

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, ...



and more »

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.