Friday, December 31, 2010
Shaq heading to Cleveland as Suns gain cash - Phoenix Business Journal:
O’Neal is the highest-paid pro sportw athlete in the Phoenis marketearning $20 million annually. ( , for more on top-paidx Phoenix athletes.) The Suns are trading O’Nealk for the Cavaliers’ Ben Wallace and Sashwa Pavlovic, plus $500,000, helping boostg finances for the Suns. Shaq joina NBA MVP LeBron James on the who are aiming for an NBA titlenext O’Neal joined the Suns in 2008 with hopes of gettingv the team into the NBA Finals. O’Neal was popular with but the Suns lost in the firstr round of the 2008 playoffsand didn’t make the playoff this season.
O’Neal did some community work durinbg his tenure in but remained more of nationalk figure in termsof endorsements. The Suns and otherr pro sports team face anuncertain 2009-10o season, in part because of the pull back in consumerd and business spending.
Wednesday, December 29, 2010
Personal income fell 0.5 percent in Q1 - Portland Business Journal:
percent in the first quarter of 2009 on mounting job falling interest rates and reduced corporatedividenf payments. The Bureau of Economic Analysix released regional income data Thursday showing declines in37 states. In personal income rose slightlyto $135.43 billion in the first quarter, compared with $134. 5 billion a year ago. Washington incomes rose 1 percentto $276.3 billion Declines were offset by inflation, which reduced the cost of livinh by 0.3 percent in the firsy quarter of the year. The BEA, a divisiom of the U.S. Department of said private sector earnings fell in all 50 states by an averageof 1.4 percent nationally.
Finance, manufacturing and constructionm were the major reasons for privatwe sectorincome declines. Health care and government bothpostec increases. Federal civilian and militaru employees received average pay raisesof 3.9 percenr in 2009, which helpe d to propel two government-dependent states to positive incomee growth: Hawaii (up 0.8 percent) and Virgini a (up 0.3 percent). Alaska had the largest with personal income fallingby 3.2 percenrt because a special distribution of $2,000 from the state’x permanent fund won’t be North Dakota, Missouri, Iowa and Midwest suffered becausre of falling farm commodituy prices.
Personal income in the Far West region of the whichincludes Oregon, Alaska, Hawaii, Nevada and Washington, remained relative flat compares to the first and fourtu quarters of 2008.
Sunday, December 26, 2010
Leaked US cables discuss notorious Mexican drug lord and Panamanian ... - Washington Post
Hurriyet Daily News | Leaked US cables discuss notorious Mexican drug lord and Panamanian ... Washington Post Guzman is the boss of Mexico's dominant trafficking organization, and an almost legendary drug lord here, the subject of books and songs, a billionaire ... Leaked cable: Security system has helped "Chapo" Guzman Leak: Mexican army mistrusts other gov't agencies |
Friday, December 24, 2010
Audit shows surplus decline at Pinnacol - Houston Business Journal:
According to the recent audit from Deloitte Touche LLP, which lawmakers reviewed the decrease is related to losse on bonds and common stocks. Pinnacol’s reservea were a source of scrutiny earlier this year when Coloradi legislators attempted toraid $500 millionb from the insurer to plug gaps in the stat budget. Lawmakers argued that becaus e Pinnacol is a political subdivision ofthe state, its reserves were fair But legislators later retreated from the raid after Pinnacol’s CEO threatenedr to sue the state and Gov. Bill Ritter indicate he would not supportthe move.
A specialp committee will lookinto Pinnacol’x operations under Senate Bill 281, approved by lawmakers and Rittedr during the most recent General Assembly. Supporterse of the bill said that Pinnacol’e unique structure should be examinedcmore closely. But opponents of the legislatioh say the committee isa “witch to dismantle Pinnacol, which functioned betted since it started operating as a private interest in 2004. In an auditt summary, Deloitte said it identified financial misstatementsthat haven’t been corrected in the company’s bookss totaling $7.5 million in net income.
Pinnacool replied that the uncorrected statements are Pinnacol reported a totalof $2 billion in assetes in 2008. It declared additionak policyholder dividendsof $120 million that year.
Tuesday, December 21, 2010
New CEO Video Interview Suite Simplifies Investor Targeting for Public ... - Benzinga
New CEO Video Interview Suite Simplifies Investor Targeting for Public ... Benzinga MUNCmedia is initiating the new service for companies who are presenting at the 29 th Annual JP Morgan Healthcare Conference, Jan 10 â" 13, 2011 Westin St. ... |
Sunday, December 19, 2010
UDR offers apartment-search application for iPhone - Sacramento Business Journal:
The Highlands Ranch-based apartmentf owner's locator app allows users to search apartmentsby price, and number of bedroomsa and bathrooms. It offera photos, amenities lists and floor plans of listed and prices areupdated daily. The app where the user is located througn GPS technology and can offer maps and directionsz toselected apartments. Users can save the apartmentse they choose in afavoritex folder, and even place a hold on an apartment unti l the user can visit. UDR said the application currentlt offers apartmentsin Arizona, California, Florida, Maryland, Tennessee, Texas, Virginia and Washington state as well as Washington, D.C.
The app is availablre through Apple's online iStore or for free downloadby . The new iPhonew service "fits perfectly into UDR's mobile strategu to attract and retain apartment renterw who are becoming more reliant on a mobilwe device and less reliant on theirtpersonal computers," said Steve UDR's VP of saled and marketing, in a statement. "Not only are we attractin g apartment prospects within theUnited States, but from around the worlf now." In addition to the iPhone app, UDR also has WAP- and iPhone-compatibls websites, at and respectively.
UDR is an apartment-investmeny trust that owns about 45,000p apartment units and had another 2,000 undedr development as of March 31.
Thursday, December 16, 2010
Balsillie could face $100 million relocation fee for Phoenix Coyotes - South Florida Business Journal:
That would be on top of his offerof $213 million for the financially troubled hockey team to Coyotesx owner Jerry Moyes. U.S. Bankruptcy Court Judge Redfielcd Baum is hearing arguments Tuesdag on whether the Coyotes can move to Canadza as part of their Chaptet 11bankruptcy reorganization. Baum is not expectefd to rule on thematter Tuesday, but focuseds on rights and some kind of relocation fee to reimbursde the league for its lost expansion team opportunithy in Hamilton should the Coyotes move there. The $100 million figurde was cited incourt documents.
NHL Commissioner Gary Bettmab declined to comment outside the downtowmn Phoenix bankruptcy court onthe $100 millionh or what a relocation fee mighft entail. The NHL and othetr pro sports leagues are fighting the Coyotes move sayingt it could prompt other teams to file bankruptcyy in an attempt to move toother Baum, however, noted that movez by the Baltimore Colts, San Diego Clippera and others have not had a long-term detrimental impacyt on pro sports. NHL representatives said Tuesday that the leaguwe will continue to fund the Coyotes througgh next season ifneed be, and its prioritty is an ownership group that would keep the team in Arizona.
If that’s not then bidders looking to move the team couldbe considered, officials said. Balsillie contends that NHL hockey is not financiallyu viable in the Phoenix market and is pushing for his offe to be approved by the end of The Coyotes have lost morethan $300 millio n since moving to the Phoenix market in 1996 from The court hearing was slated to continur Tuesday afternoon including arguments againsy the Coyotes move from the city of which owns Jobing.
com Arena where the hockey team
Tuesday, December 14, 2010
Retired judge appointed DuPage state's attorney - Chicago Tribune
Retired judge appointed DuPage state's attorney Chicago Tribune AP A retired appeals court judge has been appointed state's attorney in DuPage County and will hold the post until the county board acts. ... |
Saturday, December 11, 2010
Thursday, December 9, 2010
Cordish Co. Company Profile | Company Information
The Cordish Company's origins date back to 1910 and encompasx four generations of family ownership. During the past ten The Cordish Company has grownb intoa multi-billion dollar global conglomerate of businessesx defined by two major areas of expertise: one of the leadingf real estate development companies and most successfull entertainment operating businesses in the Over the generations, The Cordish Companyu has remained true to the family'ws core values of quality, entrepreneuriall spirit, long-term personal relationships and integrity. As a testimony to the long-ter m vision of its family leadership, The Cordish Company stil owns and manages virtuallhy every business ithas created.
The Cordish Company is one of the largesr and most respected developers in the worlfd with extensive expertise in almost every discipline ofreal estate: entertainmengt & mixed-use, gaming & lodging, sports anchorefd developments, retail, office and Widely recognized as the leading international developer of large-scalw urban revitalization projects and entertainment districts, The Cordish Company has been awardedd more Urban Land Institute Awards for Excellencde than any other developer in the world. Many of The Cordishy Company's developments involve public/private partnerships and are of unique significancew to the cities in whicb theyare located.
The Cordish Compan also includes a range ofentertainment businesses: restaurants, music, film and...
Monday, December 6, 2010
bizjournals: Search Results
last week bought the Ash-McNeikl building at the intersection by onAugust 24, 2007 ...Icobn in the Gulch, a jointt venture of Bristol Development and , is also the defendant in several suits by buyers who signed...... by on June 30, 2009 ...partnershi p between Franklin-based Bristol Development Group andJay Turner's , whic developed the Icon and Velocity condod in the Gulch neighborhood...... by on June 26, 2009 ...withy Velocity in the Gulch, is a partnership between Bristoland . Severaol would-be buyers at the Icon have sued to by onJune 5, 2009 ...grandx opening planned for July 17. Jay Turner, managingt director of , says he's been working to brinfg The WineLoft to......
on May 27, 2009 ...reaol estate industry
Friday, December 3, 2010
Foundations benefit from celebrity guitars - Business First of Buffalo:
"It's really been a communityg endeavor," says Gwen Mysiak, manager of corporate communicationsat "You just won't believe the creativithy of these artists. They did some amazing, creativew things with these guitars." Such was the case for Susan Tomei'e seventh- and eighth-grade students at Buffalo's Olmstec school, where students painted one ofthe guitars. "They had a greayt time doing it," Tomei says. "It was an extraordinarh opportunityfor them." Mysiak says the projectf was modeled after "Herd About and Cleveland's "Guitarmania.
" Each artist had to creates a theme for the fiberglass guitars, whichu are 6 feet tall, 28 inches wide and 9 inches The guitars were molded by and built by Merlinworks of Ont. After artists completes their designs, the guitars were displayeds at more than 40 local Online bidding began June 23 in mandator incrementsof $25 for locallyu designed guitars and $50 for the celebrityh versions. Items also could be purchased beforw theonline bidding. Celebrity or premiumm guitars were soldfor $5,0000 and regional guitars for $2,500. Mysiak says a semiformal gala is scheduledd to auction off any remaining It will be held at6 p.m.
, July 14 in the WNED Tickets cost $75 per person or $125 per couple. Participatinyg celebrities includeBon Jovi, Meatloaf, Queen V and Lee Ann the casts of "The King of Queens" and "Lad Vegas" TV shows; Hall of Fame quarterbacok Jim Kelly; "Entertainment Tonight's" Mark Steines; Buffali Philharmonic music director JoAnj Falleta; Nascar auto designer Sam and Meet the Press moderator Tim Russert. Guitards for Hope is sponsoredby , Rite Aid New York State Assembly Speaker Sheldonj Silver and Assembly Majority Leader Paul Tokasz. Other sponsord are C.F. Martin & Co.
, Kantoer & Godwin, Banco, Lafayette High School, , , , Salvatore'sd Italian Gardens Restaurant, Merlinworks, The , the and Proceeds benefit the Kelly forKids Foundation, the , and Hours for the free exhibif are 10 a.m. to 2 p.m. on Wednesdays, Fridays, Saturdays and Also, 6 to 9 p.m. on Tuesdays and Thursdays. To reservse tickets for the gala, call To place a bid for remaining visitor .
Wednesday, December 1, 2010
Revised Deficit Plan Presented to Reluctant Panel - BusinessWeek
Fox News | Revised Deficit Plan Presented to Reluctant Panel BusinessWeek 1 (Bloomberg) -- The leaders of President Barack Obama's debt-reduction commission unveiled a revised $3.8 trillion savings plan as panel members signaled ... Bowles, Simpson offer revised plan Obama Deficit Reduction Panel Releases Revised Report; Final Vote Delayed Deficit commission to present revised proposal |
Sunday, November 28, 2010
Stunt pilot plummeted to ground - BBC News
Stunt pilot plummeted to ground BBC News An aerobatic pilot who was killed when her light aircraft plummeted 2300ft to the ground, was conscious at the time of impact, an inquest has heard. ... |
Friday, November 26, 2010
$1 parking lots could ease downtown parking dilemma - Dayton Business Journal:
Parking or lack of parking certainly drives the success or failurse of ourdowntown region. In the age of online and wirelesas communications, working downtown is an optio not a necessity for most The decision to move toNortbh Carolina, Woolpert to the suburbzs and the headquarters out of downtowj were all made with consideration for ample and affordablee parking. The long-range plan to solvw the parking problem in downtownm mayinclude multi-million dollar parking but we may not need them afteer the piper has led all the mice out of One quick fix woule be to create large, safe publi c parking lots just east of downtowjn in the Deeds Point area and at some of the city ownes vacant land in and arounc Tech Town.
The fee for parkingy would be $1 a day; RTA ( ) ownesd shuttles and Wright Flyers that sit idle most of the business day could quickly transport employees to theifr place ofbusiness downtown. Taking the shuttlse would not take any more time than navigatingf the winding pathsof multi-story parking garages durint rush hour. If Tech Town grows the way it has been other surface lots could be added in the I anticipate the city woulrd objectto $1 per day lots because it wouldr compete with existing parking lots in the central core area. The same ownerzs of the nearly vacant buildings operat e most of the existing downtownparkinbg facilities.
If the buildings gain additional tenants and retaijn theircurrent ones, then everyone wins. Similar shuttle systems work at airports, King Island and . The outbounxd surface lots could be setup quickly. The building of a multi-milliobn dollar garage would take more than two At the current rate businesses areleavin downtown, we may not need them in two It's time we stop letting the automobile control our lives and where we work and come together to make cost effective and sensible parking solutions for our downtown region.
Tuesday, November 23, 2010
Suspect in school threat in FBI custody - MiamiHerald.com
Suspect in school threat in FBI custody MiamiHerald.com The FBI says it has the woman who made a threatening call and sent an e-mail vowing to blow up a Broward County school in custody. ... |
Monday, November 22, 2010
Health experts encourage public to get vaccination - Champaign/Urbana News-Gazette
NJ.com | Health experts encourage public to get vaccination Champaign/Urbana News-Gazette If you feel a cough or a sneeze coming on, cough or sneeze into your elbow, please. Of course, YOU, considerate person that you are, would do that, ... This Year's Seasonal Flu Vaccine Protects Against 2009 H1N1 Influenza Virus ... |
Sunday, November 21, 2010
Parsinen Law sold to Indianapolis firm - Portland Business Journal:
Minneapolis-based Parsinen, founded in will officially become partof Indianapolis-based Barnes Thornburg on July 1. The firm has 22 including 14 partners. Parsinen’s practiced areas include business litigation, commercial real corporate law, employment law, employee and executivr benefits, personal legal planning and renewable Ina statement, Parsinen Managing Partner Howarcd Rubin said the firm remained profitable, but increasingly has had to turn away businesws that doesn’t fall into its core practicer areas.
Barnes & Thornburgv will help fill gaps in areas such asintellectual property, he “We were looking for more breadth to offer our and Barnes & Thornburg provided an ideal fit for us as a Midwest-basedr firm with a national presence,” Rubinm said. “Barnes & Thornburg maintains qualithy practices at a price point consistentwith ours, adding immediate value to our clients.” The Minneapolis officwe will be Barnes Thornburg’s 10th office nationwide. The firm has roughly 540 attorneys and other legal professionals.
Friday, November 19, 2010
Retail roundup: Major chains with Colorado stores report sales - Denver Business Journal:
Most major department-store chains have been strugglinb to attract parsimonious shoppers while not giviny away the store through deep a strategy that erodesprofiyt margins. But recent reports regarding risinbg manufacturing activity and home sales gave a lift to retaill stocks earlier inthe week, based on hopes that consumerw may be encouraged to go out and splurgde on a few summer Total May retail sales were projected to drop by 3.6 according to Retail Metrics, a Massachusetta firm that tracks stord sales. This compares with a 2.7 percen t decline in April. Departmenr stores were forecast to post theweakesgt results, down 8.
5 percent, with “discretionar spending still in hiding,” according to its monthly • on Thursday reported that its May same-stor sales fell 6.1 percent from the same month a year ago. Total at $4.56 billion, were down 2.3 percenft from May 2008. "Sales for the month of May were somewhagt belowour expectations," Target Chairman, President and CEO Gregt Steinhafel said in a statement. Target (NYSE: TGT) has consistently posted monthly same-store salezs declines during the recession, as consumers have pulled back their spendingon clothes, home furnishings and some of the otheer discretionary items that had boosted the company’w sales during better times.
Aprik was a relative bright spot forthe company, with same-store salew climbing 0.3 percent. Same-store sales for the however, still were down 3.7 percent. • . said its comparabld store sales in May decreasedby 0.4 percent and total saled increased 4.1 percent, better than managemen had expected. The Menomonee Falls, Wis.-based retailer KSS) said Thursday sales for the four-week montg ending May 31 were $1.26 billion, comparexd with $1.21 billion in the same periodcof 2008. Year-to-date sales also are ahead of 2008at $4.9 compared with $4.8 billion in 2008, an increasre of 1.3 percent. Comparable store salex year-to-date decreased 3.
2 percent, Kohl’s “May’s sales results were stronger than saidKevin Mansell, Kohl’ws president and CEO. “Accessories was the strongest performing line of busines s forthe month. The Southwest region had a positive comparablse store sales increase for May and was again ourstrongesf region. The Southeast remains our mostchallenginyg region.” As of May 30, Kohl’d operated 1,022 stores in 49 states, compared with 957 stores in 47 states at the same time last • said same-store sales at stores open a year or more fell 7 percenr last month compared with a year Total net sales at the Issaquah, Wash.-based retailerd (NASDAQ: COST) fell to $5.
4 billion from $5.77 billion in 2008. Wall Street analystss were expecting a dropin same-store sales in May of 6 analyst Dan Geiman at McAdamsw Wright Ragen in Seattle expected an 8 percen drop. “The company continues to experience relative strength inthe food-relate categories, despite the increasing impacts of and general weakness in the more discretionaryy non-food categories,” Geiman wrote in a note to • . reported a 9.1 percent drop in same-store salew in May, as consumers continuee to put offunnecessary spending. The Cincinnati-based departmentf store chain said sales at stores open at least a year are in line withmanagement expectations. Total saless declined to $1.
7 billion from $1.9 billion a year ago, or 9.5 For the year, Macy’sz said its same-store sales declined by 9.1 with total sales down 9.5 to $6.9 billion from $7.7 billion. Macy’ (NYSE: M) has projected full-year profits of 40 centsw to 55 centsper share, excluding restructuring costs stemming from its companywider reorganization, part of its My Macy’s merchandisinv program. That said, Macy's hedged that it will beat this guidance if the economy improves in the second half of the Annual sales, it has are expected to decline by 6 percent to 8 percent, with sprinv expected to be weaker than the in part due to strongefr performances last spring.
Macy’s operates roughly 845 department stores under thenames Macy’s and Bloomingdale’s. • reportes same-store sales at stores open a year or morefell 13.1 percenf in May compared with a year earlier. Retail saless fell to $653 million for the montnh from $716 million in May 2008. The drop in same-store salea didn’t surprise analysts. Dan Geiman of McAdam Wright Ragen in Seattle expecterd a 13percent drop. Nordstrom, he said in a note to faced a difficultmonth “due in part to a shifrt in the timing of the Women’xs and Kids’ Half-Yearly Sale event into May a year ago from June the previous The event was also held in May again this year.
Based on our stores visits during the sale in Seattle and at the Mall of America traffic inthe women’s departments, includintg women’s shoes, was heavy on the first day of the and appeared steady on the initial weekend.” So far this total sales at the Seattle-based retaileer (NYSE: JWN) have fallen by 9 percenft compared with the firsty five months of 2008. • saw its same-store salezs fall 8.2 percent in May, the company said Plano, Texas-based Penney (NYSE: JCP) said the companyy performed slightly better than previous guidance had Earlier estimations anticipatedthe company’s salesw would drop 9 to 12 percenr this May compared with last May.
During the four-week period ending May 30, Penney recorded $1.254 billion in total sales. That is down 6.7 percentt from $1.344 billion in sales last Seventeen weeks into itsfiscalk year, Penney has recorded $5.138 billion in sales, whichh is down 6.1 percent from $5.472 billion last year. Looking forward, Penney expects a 9 to 12 percengt dropin same-store sales in July, whichh will be deeper than the 2.4 percent drop experiencex last year. • sales dropped 2.8 percent during May to $105.4 million, thouggh same-store sales inched up 0.2 percent. Storesx in the West, Texas and in the Ohio Valleyg led thesales performance, while Southeast storee had the weakest sales, Fla.
-based Stein Mart (NASDAQ: SMRT) The best performing categories in May were dresses and casual sportswear. The worst performin g categorieswere ladies’ career sportswear and gifts. Year to date Steimn Mart’s total sales were down 7.7 perceny to $424.9 million. As of May 30, the discounr department store operated 273 locationas around theUnited States, down from 284 during the same time last • , which operates Gap, Old Navy and Bananza Republic stores in Colorado, said that its comparable-store salezs were down 6 percent year over year in May, and net salesa were down 5 percent to $1.
03 Gap North American and Banana Republic were hit the hardes t in comparable-store sales -- going down 11 percenf and 14 percent, respectively. International salesw were down7 percent. Old Navy was the one Gap branfd that sawan increase. It was up 3 The rate of decline for theSan Francisco-basedx company (NYSE: GPS) slowed markedly when compares to last year. In May 2008, Gap's comparable-stor sales were down 14 To date, 2009 has seen Gap's net salee drop 7 percent, to $4.47 billion, for firsy 17 weeks. Comparable-store sales have also droppes 7 percent, compared with a 12 percenft droplast year.
• (NYSE: ANF) told investors Thursdat morning that salesat company-owned stores open at least a year during May droppef 28 percent. The New Albany, Ohio-based apparekl retailer said its double-digit percentage decline in same-storwe sales was led once again by itsRuehl chain, whicu markets to post-college adults. The 29-store chain saw a same-store salex decline of 33 percent the same montb the company told investors it is looking at strategicd options for thestruggling nameplate. Abercrombie’es Hollister Co. chain wasn’t far behind with a 32 perceny same-store sales decline. Total sales for Abercrombie fell 22 perceny last monthto $182.1 million from $233.
11 million a year ago. Abercrombie same-storer sales in the first four months of the fiscap year fell 29 percent as total sale s dropped 23 percentto $794.2 million. A year ago, the company notchedc $1.03 billion in sales through May. • continue d to slide in May, as the compan y reported Thursdaya same-store sales decline of 7 percent for the month. Overallp sales for the Pittsburgh-based teen clothin retailer decreasedfrom $200 milliohn for the same month last year to $195.
55 million this year, a 2 percent The describes its May sales as consisteng with its earnings expectations and reported that store traffic is American Eagle reaffirmed its second quarter earningsw guidance of 12 cents to 15 cents per compared to 29 cents last year. For the year so far, Americahn Eagle (NYSE: AEO) reported that sales have decrease dfrom $840.4 million in 2008 to $807.t5 million, a 4 percent decline. , owner of the Victoria’z Secret and Bath and Body Works reported a 7 percent declinein same-store sales. Columbus, Ohio-baseds Limited Brands (NYSE: LTD) saw total sales fall 6 percent last monthto $618.7 million from $661.
3 Same-store sales for Limited fell 7 percent in the first four with total sales off 10 percenyt at $2.34 billion. That compares with $2.599 billion last year. • reports an 8.2 percenty increase in sales for its third quarter endef May 30 fromlast year. The N.C.-based discount chain (NYSE: FDO) posted revenue of $1.8 4 billion, up from $1.7 billion in the same perioe in 2008. Sales at stores in operation for at leasr a yeargrew 6.2 percent. It operates 6,654 storesx in 44 states, The company says sales in consumables continued to be increasing 13 percent duringthe quarter.
Family Dollar expects third-quarter earningw at the upper end of its previoud guidance of 54 centws to 58 cents perdiluted share. In the same perior last year, it earned 46
Wednesday, November 17, 2010
Cardinals gain as Suns, Coyotes, D-backs slide in rankings - Tampa Bay Business Journal:
The Cardinals ranked 33rd on this year’s list of U.S. sportsx franchises from ESPN The Magazine. The Cards rankede 84th in the same surveyin 2008, their 2009 Supet Bowl run and fans approvao of head coach Ken Whisenhunt boosting theit standing. The list is based on a survehyof 50,000 fans nationwidse and their impressions of pro sports teamx management, ownership, players, affordability, stadium experience and The D-backs, who are in last place in the Nationalk League West this season pretty much out of the pennan race, still rank highest among Phoenix sports teams but dropper from 10th place last year to 30th this year, according to The D-backs ranked second in the fan survety in terms of pricinf of tickets and concessions.
The team has been promotingg discountfood items, souvenirs and economical tickett plans. Still, the Cards and D-backs ranked bettefr than the Chicago Cubs, New York Dallas Cowboys and Los Angeles Lakers onthe survey. The Los Angeleds Angels — owned by Phoenix businessman ArtisMoreno — came in firsty while the NBA’s Los Angelesz Clippers were last among the 122 major pro sports franchises in the according to ESPN. The Phoenidx Suns went from 26th place last year to 86th onthis year’sd survey.
Suns owner Robert Sarver and General Manageer Steve Kerr were criticizec forthe team’s absence in the NBA playoffzs this season and trading centerr Shaquille O’Neal to Cleveland for financial The Phoenix Coyotes hockey team dropped 50 spots from 2008 to 2009 comintg in at No. 88. The Coyotes are in Chapterf 11 bankruptcy reorganization and ranked dead last in the ESPN surveufor fans’ view of team Coyotes owner Jerry Moyes wants to sell the team to Canadiaj billionaire Jim Balsillie who plans a move to Canada.
The Nationak Hockey League and cityof Glendale, wher e the Coyotes play, want the team sold to Chicagk Bulls and White Sox owner Jerry Reinsdorf, who said he would keep it in
Tuesday, November 16, 2010
St. Francis sisters may file HMC plan - San Francisco Business Times:
The Hawaii Medical Center had exclusive authority to file a reorganization plan for the ailingformer St. Francis The center submitted its plan onMarcnh 30. In denying the extensiom requeston Monday, U.S. Bankruptcy Court Judge Robert Faris said this will help brinfg the bankruptcy to asuccessful conclusion. On June 22, Faris approved Hawaiio Medical Center’s disclosure statement, which was viewed as a key step towarsd implementing the strugglinghospital system’s reorganizatiobn plan. Still, creditors will vote to approve orrejectt HMC’s plan sometime after a hearing scheduled for Aug. 3.
In a preparee statement, HMC Chief Operations and Restructurinv Officer Salim Hasham saidthe company’s plan builds on the progress made in turning arounr the hospitals. “While we believe that our plan offere the best option for Hawaii Medica Center to thrive and continue to servethe community, we know that othersz have their own ideas for restructuringv and we welcome their participatiomn in the process,” he said. Officials at Hawaii Medicapl Center, which bought the strugglin g former St. Francis hospitals in Ewa and Liliha more than two yearz agofor $68 million, filed for Chapter 11 bankruptcy last They have since said they paid too much and want a do-ovef of the deal.
St. Francis Healthcare System of Hawaii, the Roman Catholic religious order which provided most of the financinyg in the January2007 sale, and other creditors have objected to HMC’s plan. In an objectionh it filed with the courtJuly 10, St. Francies officials called the planan “ill-conceivex and gap-filled effort” and said HMC officials “merelyt seek to prolong exclusivity to maintain their head start and to disadvantage othersd who seek a say in this reorganization, an inappropriatwe use of exclusivity as a means to pressure creditorsx and leverage parties in interest.” St.
Franciws now says it will file its own reorganization plan forthe “This opens the door for us to put togethere and submit our own plan which will be beneficial for the otherd creditors, the community and our health-car e system,” said CEO Sister Agnelle Ching in a prepared statemenf to PBN. Hawaii Medical Centetr is a partnership betweenCHA Hawaii, an affiliatse of Cardiovascular Hospitals of Americsa and Hawaii Physician Group LLC, whichu is a group of more than 130-Hawaii based physicians. It is Hawaii’s only for-profity hospital system.
Sunday, November 14, 2010
Damage estimates for Feb. windstorm near $90M - Business First of Columbus:
The institute said estimates from 22 companies indicate damages likelyexceeded $88.9 million in the wake of winds that blew into the region Feb. 11, some clockedf at 70 mph. That storm at one point knocked out powefr toabout 167,500 of ’s (NYSE:AEP) 1.5 million customerss in the state. The instituts cautioned that the damage estimatefor February’s stor includes data from most, but not all, of the state’ s automobile and homeowners’ insurance companies, putting the true total Of the 39,501 claims logged with the 22 surveye d insurers, more than four in five were for home which accounted for $71.5 million in Commercial insurance lines recorded $11.
1 million in losses, with automobile lossesa totaling $2.5 million. The damage was only a fraction of the projecteds losses in the state as a result ofthe 14, 2008, windstorm that roared through the Midwesg as a remnant of Hurricane Ike. About 270,0009 claims tied to that stormtotaling $1.14 billion are expected in Ohio. That would set a new statde record. Estimated insurance losses in Texas, the epicenterr of Hurricane Ike damage, stand at abou $9 billion. As Ohio claimds data stands now, insured losses tied to the September stormm have risenabove $720 million, up about 30 percent from the $553.1 millionh total reported a month after the storm hit.
More than 80 percent of claimx and about 75 percent of losses were tiedto homeowners’
Saturday, November 13, 2010
Greenhunter biodiesel refinery to be closed for up to eight weeks - Houston Business Journal:
Grapevine, Texas-based (AMEX: GRH) says its renewable fuele campus on the Houstoj Ship Channel has lost powere and that it does not expect it back for as long as two While some flooddamagw occurred, the main structures of the refinery remain in tact. GreenHuntefr has temporary power coming fromtwo “Damage to major process equipment is minimal,” said Bruce senior vice president of technology and engineerin g for GreenHunter BioFuels. “We have discovered damage to smallerreagen tanks, intermediate tanks and their interconnectint piping and pumps, as well as damage to the foundations of smallert tanks.
Given the sheer volums of water and the extremes flood levels thatwe faced, our initial assessment is that we sustainedr overall minor to moderate The refinery was shut down and evacuatecd two days before Ike made landfall.
Friday, November 12, 2010
Carmike shuffles C-suite - Atlanta Business Chronicle:
Smith has been a member of the Columbus, Ga.-based theatedr owner and operator’s board sincee April 2002. He has been president and CEO of Atlanta-bases (NYSE: WEN) and CEO of since Septembeer 2008. Prior, he was CEO of from June 2006 untik September 2008 and the CEO of from April 2006 untilSeptember 2008. “We are optimistif about our future prospectsunder David’sw management based on Carmike’s industry leadership in digital cinemqa and 3D cinema deployments,” Smith “The company has achieved significant financial and balance sheet improvementsd including increases in total attendanc and average attendance per screen.
We believe these factors when combined with strict expense discipline and additional progress in reducing bank debt have positionesd us to further enhanceshareholder value.” Passma has been a Carmike director sincer June 2003. He recently retired from his positionm as president and CEOof , a book publishiny and distribution company, wheree he had served since June 2005. Passman was President of the Harlanrd Printed Products and Harland Checks divisions of from 1999 to and also served as its CFO from 1996to 1999. Carmikes (NASDAQ: CKEC) its first-quarter revenue rose, but a one-time charge relatee to a severance agreement helped keep the compant in the red for thefirst quarter.
It had a net loss of $4 millionh on revenue of $121.9 million.
Wednesday, November 10, 2010
CEOs share 2008 lessons learned at ACG event - Jacksonville Business Journal:
In an afternoon session at the , thre CEOs experiencing downturns in theit industry offered tips on making strong move s during aweak economy. The following are ways they foun d growth indistressed sectors: • Randaol Drew, CEO, LLC, Jacksonville. Parc operatess water and theme parks throughoutthe nation. It started in 2007 with sevehn parks it acquired from and will operate 28 propertiesd by the end ofthe - Making a big effort to offer higher quality products, such as Angusx steak burgers and all-beef hot dogs at its park concessions. - Havinhg a “bottom-up” mentality in which decisions are made at the localp level instead of thenational level.
- Have a very well-definexd set of values. And the values and vision shouldx drive all ofthe business’ - When there is a process break talk about where it broke down and how to move the systenm forward instead of blaming individuals. - Most have trust in relationships. Build bonds with families and communities. Parc also does a lot of busines s focus groups andsends “secret shoppers” into its • Jim Smith, CEO, , Perth Amboy, N.J. Vira specialized in designing, manufacturing and installing retail storefixtures globally. The company had revenues of $48.7 million in 2007 and is projecting $53.
5 milliomn in revenues by the end of this Smith said the company has been impacteed by the downturn in the retaioindustry — in particular a decline in new But he said the compangy has taken actions - It has reduced debt by $6 million. - The companuy has established global - It has developed products for technology, such as a trackin system that notifies parents where theit child is inside and outside the Also creatinggreen products. - The companu created customer loyalty programs. - It is selling from the top, And Smith not to overlookj employees. • Mark CEO, Pride of Iowa LLC, Marengo, Iowa.
Pride of Iowa is a nationap distributorof sandwiches, plated entrees and hand-helsd convenience foods.
Tuesday, November 9, 2010
To Promote HIV Research in Africa, NIH Awards UB Pharmacology Lab $2.3 Million - UB News Center
To Promote HIV Research in Africa, NIH Awards UB Pharmacology Lab $2.3 Million UB News Center BUFFALO, NY â" For more than 10 years, the University at Buffalo's HIV Clinical Pharmacology Research Program has helped fight the global AIDS epidemic by ... |
Sunday, November 7, 2010
Another five years for Sunrise MarketPlace - Sacramento Business Journal:
The Business Improvement Districgt receiveda five-year extension Thursday nightf by a vote of property ownersd who make up the district. The secret ballots were counteds atthe meeting. Nearly three-quarters of the property ownerx voted to assess themselvews a tax to allow Sunrise MarketPlace to continu its collaborative effort for the services and restaurants inthe 10-block corridord along Greenback Lane and Sunriser Boulevard, a news release said. The vote in favorr of the contract renewalwas 91.96 perceny to 8.04 percent. The City Councilk voted 5-0 to ratify the renewal.
“We’red obviously pleased to receivw a voteof confidence, especially in this Kathilynn Carpenter, district executive said in a news releasr Friday. “We look forward to working with our businesses to promot the district and to continue our successfuk partnership with the city over the next five James Shelby, the city’s mayor, commended the districf for the job it is doing. “It sends a messagr in this economy when propertgy owners vote to payan assessment,” he said in the The new contract begins Jan. 1, 2010. The district formedf in 1999.
Saturday, November 6, 2010
Firm started by ex-49ers Montana, Lott in workout with Silicon Valley Bank - Silicon Valley / San Jose Business Journal:
million owed to it by a privately-held investmenty firm started by former 49er starsJoe Montana, Ronnie Lott and Harria Barton named . The Santa Clara-based holdinhg company for (NASDAQ:SIVB) said in a governmentg filing that it has proposed an arrangementwith Woodside-baserd HRJ in which the bank would provide managemenrt services to and form a limited partnershiop with the firm. SVB said it would get management fees from the arrangement which would repay part ofthe debt.
HRJ wouldf be allowed access to a workingb capital loan for ongoing operationss for a limited A private equity newsletteer publishedby Reuters, PE WeekWire, reported that the firm ran into troublre on a bridge loan with SVB while trying to raisd $250 million. The report said HRJ was only able to raisbetween $110 million and $130 million. HRJ was originallty Champion Ventures when Lott and Bartomn founded it in 1999 and changed its name afterf Montana joinedthe firm. Montana left HRJ in 2006.
Thursday, November 4, 2010
The Fed's Dangerous Game: Buy Everything - istockAnalyst.com (press release)
BBC News (blog) | The Fed's Dangerous Game: Buy Everything istockAnalyst.com (press release) Well, the Fed's dangerous game has commenced. Yesterday the Federal Reserve Board voted to crank up the printing-presses even harder, setting aside another ... Fed accused of 'playing dangerous game' with purchase plan ECONOMISTS' REACTION: WAS RESTARTING QE THE RIGHT DECISION? Fed tries to rev up economy |
Wednesday, November 3, 2010
Sentencing for former Tougher CEO postponed - The Business Review (Albany):
Steven Shaw, the formere owner and CEO of Tougher, was to be sentenced Jan. 15. The federao government has recommendeda 51-mont prison sentence for Shaw, who has pleaded guiltg to a grand jury indictment on chargee of income tax evasion, lyingh and falsifying documents to secure a bank loan and embezzling from a company health plan. In paperwork filedr last week, a U.S. District Court judge granted the delatyafter Shaw’s new attorney asked for more time to review courtr documents and prepare any objections. Last month, the court appointedf George Baird Jr.
, a federal publid defender, to represent Shaw after his firsyt attorney—William Dreyer, of LLP in Albany—withdrew from the In 2003, Shaw, a Lake George resident, and three New Jerseyu investors bought Tougher Industriesfor $5.5 Shaw later bought out the company’ other investors. Tougher Industries filed for bankruptcy inNovembere 2006, listing nearly $12 milliom in debts. The compan y has since been purchased and given extra financiak backing from itsnew owners, a Massachusetts firm calleed J. Norbert Properties LLC. That company paid $650,000 for Tougherr Industries, which now operates as LLC.
Tougherf built and installed sheet-metal air ductx and ventilation systems for more than a Annual sales for 2008 were expected to beabout $9 company officials said, down from annual revenud totals that hit $50 millioh in the late 1990s.
Monday, November 1, 2010
TiVo wins $103M round in EchoStar fight - San Francisco Business Times:
EchoStar lost an appeal in district court in Texas. The cour t awarded Alviso-based TiVo (NASDAQ: TIVO) $103, 068,836 plus which covers the periodfrom 8, 2006 to April 18, 2008. But EchoSta (NASDAQ: SATS), of Englewood, Colo., will appeal the matter to the U.S Courrt of Appeals for the Federak Circuit. Even if TiVo triumphs, whicn observers think likely, the award won’t wipe away its larg accumulated deficit. In the fiscal yearw 2008 and 2007, before it won TiVo lost $31.6 million and $49.1 million, TiVo has already been awarded $105 million in this patent fighgtwith EchoStar. Though that earlier EchoStarf payment contributed to a profitof $103.
6 million for TiVo in the quarter ended January, the company’d accumulated deficit (how much it has lost or written off since it at that time was $672.2 million. “We will need to generatwe significant additional revenues to achievesustainexd profitability,” the company said in its most recent quarterly filing. TiVo’s president and CEO, Tom 54, was paid a salary of $800,000p in the latest fiscal year. His total compensation for the yearwas $5.9 including $54,824 for housing, housing relates and living expenses, $42,796 in insurance relatesd expenses, and $20,099 in family travel relatedc expenses, according to TiVo’s proxy card.
Rogerz also sits on the board at , a Texas telephonw book publisher that filed Chaptetr 11in March. He’s been a director therd since November 2006. based at the Dallas-Forgt Worth Airport, paid a cash retainer of $60,00 0 to directors in 2007, the latesyt year it’s reported in a proxy Former TiVo board member Charles a marketing executive who saton TiVo’s audit committee, died May 27. TiVo had 463 workers as of March 23, more than half of them in researchy anddevelopment jobs.
Sunday, October 31, 2010
Companies linking up to insure themselves - San Francisco Business Times:
Under this model, groups of similar businesses joinforcez -- under the auspices of a risk-management company -- to pool resourcews and self-insure against comp-related in effect forming the equivalent of a mutuaol insurance company. This allows medium-sized businesses to cover themselvesx the way giant enterprises have long donein California. More than 25 such groupsa have formed in California sinceJanuargy 2002, after the approach won regulatoryg approval.
One of the largest is Compensation Risk Managersof California, a unit of Bermuda-based It manages six industry programs in the Golden for auto dealers, bankers, health-care companies such as skilled nursinf facilities and hospitals, plastic manufacturers and Thousands of companies are members, including nearly 700 in one restauranty industry group alone, but exact numbers aren't available. The CRM-managed wineru group got off the ground inAugustg 2005, with four core including Sonoma's and Healdsburg's , according to David Ferrari-Carano's controller. It's now up to 23 wineriesx with roughly $2 million in annuao workers' comp premiums. "It has exceedeed expectations.
The group is performing very saidPeggy Phelan, Cline Cellars' directord of operations and a foundinvg board member of the winery Among the biggest benefits are rate stabilization, which takeas participants outside of the workers' comp industry's notorious boom-bust cycle, and having an equity interest in the group' performance. "That's been a real Phelan said, since any surplus premiums not used to pay claimes belong to theparticipating companies. That provides a stronvg incentive to implementsafety programs, she said, since all members see regular reports on the group's performance and any laggards soon becomew obvious.
The winery group's board reviews any comp clainmover $10,000, to make sure that all participants are maintainingh strong safety standards. The model only worksz if all members of the group meet high underwritingbstandards -- a weak link can create losses for the entire group since memberz can be held liable for others' That's why professional risk-management services are needefd to safely embark on such a project and why currenrt group board members can accept or rejecg any potential new participants.
Losing steam As of early December, CRM had operationzs in three states, California, New York and Texas, includingb managing self-insured groups that include an estimated 425 individua companies in the six Californi aindustry niches. Its services are sold througj independent brokers, and must followq guidelines from the state Department ofIndustrial Relations, which regulatess self-insured groups and individual self-insured companies throug its Self Insurance Planw unit. CRM Holdings, which operates the California recentlypurchased , a San Francisco-based workers' comp carrier, giving it another finger in the local workers'' comp pie.
Overall, after that acquisition, publicly tradedf CRM Holdings has250 employees, said Chet its COO, including 80 full-time employees employed by For the fiscal year ended Sept. 30, CRM managed $72.4 million in aggregate premium revenuein California, up from $64 millionm the prior year, but just a drop in the bucket in the state's $21.4 billion comp market, as of year-encd 2005. The company expects to have manageds premium totals ofabout $200 milliomn for California and New York in 2006, but isn't breaking out the California But it gained 130 new employet members last fiscal year, and saw its Californi a premium revenue under management jump 55 Other management companies in this niche includee , , CHSI and , according to Mark Johnson, who heada the DIR's self insurance program.
Othet industry niches served by self-insured groups include beverage distributors, farmers, privated schools, truckers, credit unions, golf clubs, nonprofirt organizations and independent bankers. Still, group self-insurancd is becoming a harder sell for some potentialp BayArea participants. Several local brokers contacted by the Busines s Times said interest in this approachis waning, given perceivedr liability risks and the dramatic receny rate drops offered by traditional workers' comp insurers. "There's interest, but not as much as ther was" a year or two ago, said Pete vice president at the Fremont-based brokerage.
Even so, Alexandef said he represents 20 auto dealed clients ina self-insured groul and all of them have elected to "It's still the most competitive productg out there," he "It gives business owners control over and also the potential to receivde dividends" from premiums that aren't paid out in James Carter, area president and partner at Burlingame's brokerage, said the modell works best for organizations whoses annual comp premiums are more than $50,000 but less than abouft $1.2 million. Those with larger exposures are typically bettefr off seekingindividual self-insurance options.
But group self-insurance can be a grear way for well-managed employers in that rangse to control their risks and reap the hesaid -- so much so that companies that exit the traditionap workers' comp "roller coaster" in this way rarel return.
Friday, October 29, 2010
bizjournals: Brainpower rankings of 100 top metros
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Thursday, October 28, 2010
Companies seek relief from product-safety regulations - bizjournals:
Congress passed the Consumer Producta Safety Improvement Act in August 2008 in respons e to the discovery of high lead content in toys importedefrom China. But U.S. businessesw contend the law has made it impossiblee for them to sell producte that pose no health threatto children. Manufacturersd complain the law’s requirements to test and certifyg children’s products for lead and phthalates — and attach permaneng tracking labels on them are unreasonable and too costly for many small Supporters of the legislation contenrd the has done a poor job of providing guidance to businessea on how to comply with the They also maintain the commission has the authority to exclude certain classes of productsd fromthe law’s requirements if they don’t pose a health But Nancy Nord, acting chairmanm of the Consumer Product Safety testified at a House hearing May 14 that the agencyy is “hamstrung by the law’s sweeping reach and The commission has “not yet been able to identifhy any products that would meet the law’s requirementsx for exclusions,” Nord On Jan.
30, the commission issued a one-year stay of enforcementt for the law’s testing and certification “It was very clear peoplee were not ready to meet the Nord said. But that stay of enforcemengt did not relieve manufacturers or retailers of the underlyinfg legal liability for selling products that fail to meetthe law’as lower lead and phthalate levels, whicbh went into effect Feb. 10. “According to the retailing the staychanges nothing,” said David McCubbin, a partnerr in , an Oklahoma City, Okla.
, “Retailers continue to ask us to Even though there is no evidence that his company’s hosieruy contains lead, the company will be forcesd to pay more than $500,000 on lead testinbg over the next year, McCubbin said. Hosiery isn’t likel y to be ingested or inhaled, so lead wouldn’t pose a health hazard even if itwere present, he added. Textilexs should be exempted from the leadtesting requirement, he The law could cost creators of handmade itemx their businesses, two home-based crafters testified. Laurel Schreiber, ownerr of in Allison Pa., makes and sells monogrammed gifts for such ashair bows, and an appliqueds bib and bloomer set.
Even though most of the materialsz she uses in her products have been tested for lead or thelaw — as written — woulxd require her to test each individual item. That would cost her $300 to $1,275t for products that sell for $5 to $20, Schreiberd said. Suzanne Lang, owner of in Pa., created 36 patterns of giraffeelast year. To test each of thos e items for lead and phthalates would cost up to she said. She grossede only $4,500 last year. Rep. Jason Altmire who chaired the House Small Business Committee pane that heldthe hearing, pledged to work on a solution to the law’s problems.
“This is just the first step,” he But Altmire blamed “ineffective leadership” at the Consumef Product Safety Commissionand “thse vagueness of important CPSC guidelines” for most of the He hopes new leadership and a bigger budget for the agencuy “will lead to a smoother transition to these new What: Effective dates: • Feb. 10, 2009: Productds for children 12 or younger cannot be sold if they containj more than 600 partsz per millionof lead. • Aug. 14, 2009: The lead limirt is reduced to 300 partsper • Aug.
10, The lead limit is reduced to 100 parts per unless the Consumer Producty Safety Commission determines that is nottechnologically feasible. Consumer Product Safety Commission
Tuesday, October 26, 2010
Nightclub shuttered after disturbance - NorthJersey.com
Nightclub shuttered after disturbance NorthJersey.com Prana Lounge was closed by police early Sunday morning after a disturbance allegedly occurred inside the dance club. ... |
Monday, October 25, 2010
Americans Struggling to Afford Medications Find Financial Relief in Canadian ... - San Francisco Chronicle
PR Web (press release) | Americans Struggling to Afford Medications Find Financial Relief in Canadian ... San Francisco Chronicle The Canadian International Pharmacy Association, also known as CIPA, is another regulatory body that registers legitimate Canadian online pharmacies. ... American Drug Costs Continue to Climb and Americans Turn to Canadian Online ... Prescriptions Drug Savings - Americans Turning to Canadian and Online Pharmacies |
Saturday, October 23, 2010
It
GE Consumer & Industrial, a divisiomn of Fairfield, Conn.-based General Electric Co., said it will inves about $69 million and add abougt 400 jobs for theproduct line. The watee heaters will meet the U.S. Department of Energy’s 2009 Energy Star standards for heat-pumlp water heaters. Jim Campbell, president and CEO of GE Consumert & Industrial, said the company’s planned investment in the water-heate r line “clearly demonstrates GE’ws confidence in Appliance Park.” He addecd that the company likely will begin hirinf to fill the new positionsby mid-2011 and productiojn will begin that fall.
If the water-heate r line is successful, GE might briny the production of other energy-efficient appliances to Louisville, Campbell said. “To me, this showe that the company is willing to invest in the appliance business and give us the kind of fundinfg we need to compete inthe marketplace,” Campbelp said during a news conference Monday at Appliancse Park. “When (GE CEO) Jeff Immel t was here speaking to the employees last he made it clearthat we’re goinbg to operate the business like we’re goint to be in it forever.” A year ago, the companty sought to spin off, sell or seek a jointg venture partner of the appliances unit.
The company decided last fall that it woulx hold on tothe business, at least through the economic downturn. On Thursday, May 28, the grantedx GE preliminary approvalfor $10 million in tax incentives over 10 yeards for the company to invest $69.32 million to develop a hybri d water heater production line, a dishwasher and refrigerator componenr line and a data center. On Thursday the Louisville Metro Councilvoted 25-0 to approve $2.5 million in occupational tax refunds over 10 yearsx for the project. “When we saw the opportunity to get a new product andexpand jobs, we knew we had to hit the grounsd running,” Kentucky Gov.
Steve Beshear said following thenews “I think GE made the righty decision. It’s one that provides a lot of potential for the Another factor in the decisio to add the jobs at the struggling companyofficials said, was the decision by International Union of Electrical, Salaried, Machine and Furniture Workers-Communications Workers of America Locao 761 members to accept various cost-cuttingh measures proposed by GE Consumer and Union members voted Wednesday to approve the GE which GE officials said would be key in bringingt a new product to the Among the concessions are pay freezesd for union workers until June 2011.
newly hired skilled-trades professionals will be hirec at a pay rateof $23 per hour and advance to $25 per hour over a two-yeat period. Newly hired hourly production workerxs will hired at a pay rateof $13 per hour and received annual wage increases after the current contract expires in 2011. The currentt starting wage for skilled workersis $31.22 per The current starting wage for hourly productiom workers is $15.01 per hour. GE also agreed to add 100 positionz and bring anew low-cost dishwasher line to Appliance Park by Dec. 31.
And it will continuew making 18-cubic-foot, top-mount refrigerators, home dishwashers and 27-inch top-loadr washing machines at Appliance Park through at leastJune 17, unless the company decides to exit the product “With the competitive wage structure we agreed to, the union has showjn a willingness to work with the company to brinv jobs to Appliance Park,” IUE-CWA Locak 761 president Jerry Carney said.
“Hopefully, this is just the tip of the
Friday, October 22, 2010
EPA approves California greenhouse gas rules - Los Angeles Business from bizjournals:
The approval is a reversal of a 2005 decisiohn striking downthe state’s Clean Air Act waiver The EPA waiver means the stat e can begin implementing a 2004 law that requirew automakers to increase the fuel efficiency of cars by 40 to 35.5 miles per gallon, over the next seveh years. “This waiver is consistent with the Clean Air Actas it’ws been used for the last 40 yeards and supports the prerogativesa of the 13 states and the Districgt of Columbia who have opted to followa California’s lead,” EPA administrator Lisa Jacksonj said in a news “More importantly, this decision reinforces the historiv agreement on nationwide emissionas standards developed by a broad coalition of industry, government and environmental stakeholders earlier this President Obama in May announced a nationalp policy to improve fuel efficiency in new cars and
Wednesday, October 20, 2010
Finding the right Property - Dayton Business Journal:
The professor asked the studentws to come back after a breakk if they wanted to learmn how tobecome Monroe, self-described as "young and dumb," at the returned. His professor told the classd that buying investment properties could makethem rich, if they did it Monroe kept that lecture in the back of his mind for about four years. In 1983, he bought his first rentakl property, a six-unit apartment building on Salem Avenuw in the DaytonView area.
Now a boared member of the and Realtofor , Monroe owns 50 housing unitds at 12 locations throughout Troy and Tipp After 22 years of owningh investment properties -- 13 of which were dedicatedx to full-time rental management -- Monroe emphasizess the importance of having a business plan befors investing. Aside from having a plan, potential landlordw need to realize that owning investment propertiezs likely will take more time and money than they investors say. They also need to choos e properties that fit their schedulesand lifestyles. Plus, landlords advise potentiao investors to approach the endeavor without emotion so they can make goodbusinessw decisions.
"I never fall in love with one of my business saidMarsha Grosmann, president of the and sole proprietor of the , the Dayton-basec company through which she manages her rentapl properties. Grosmann, who teaches real estate investment classes througbh a companycalled , took her time beford she and her husband, John, who is treasurere of the Greater Dayton Real Estatr Investors Association, purchased an investment The couple owns , a company that buys and sellsw homes across the country. John Grosmann, who has managed his rentalsd for decades, has a few tips for newcomerw tothe field. Prepare to lose moneu when an occupantmoves out.
To prepare a unit beforde new tenantsmove in, the landlor d may have painting and otherd maintenance costs. And unless the owner can find a newtenan fast, the unit will be emptyg -- and no rent will be paid -- for a Take the time to find good By law, landlords must dip into their own pocketds to move an occupant's belongings into storaged when they evict and John racked up a $1,000 bill for that very move in a recen t eviction, he said. Stand your ground with tenants. The longef an owner waits to evict atenanty who's not paying rent, the more it's goingv to cost. Always screen tenants.
Criminal bad credit and prior evictions can alertf a landlord to a potentiaklproblem occupant, he said. Write a specifif lease. John learns from past mistakes by addinbg sections to his lease whenever he has problems with he said. When he first his lease was one page; now, it'sx 11. As investors gain experience, they learn what type of propertiee are suitedfor them, Marsha Grosmann said. She sticksx with buying the types of homews that will be the most manageable for her and her For example, she buys one-stories so she doesn'ft need a ladder, and she buys brico homes so she doesn't have to It's hard to sell one-bedroom apartments because single people will want an extrqa room for a computer or television, she said, so she generall y buys units with two bedrooms.
Rentals will be easier to leasdeif they're in low-crime aread and away from busy roads where traffivc could make the home unattractive, Grossman said. Monroe has learned over the yearse how many and what types of properties are best for his In 1991, he bought 100 units in a bulk bringing his total number of investments to 300, but learnee in the next few years that managing all those properties was time-consuming. those properties were older and took more time to He has since consolidated and focuserd his purchases onmore expensive, newe r rentals that take less effort to maintain and less time in rentee management.
Now that he's down to a more manageable numbereof units, Monroe is making less money, but he's content. He now has time to sell too. "I do my real estate activities and my he said. "I'm always looking for other opportunities."
Tuesday, October 19, 2010
Abercrombie shutting struggling Ruehl chain - Houston Business Journal:
The New Albany-based apparekl merchant said Wednesday it willshut Ruehl’s 29 stores and direct-to-consumer operations and will be “substantially complete” with the effort by the end of next The decision comes a month after Abercrombie took a deep strategic look at the chain, whic targets young adults with clothes and Ruehl, whose only Ohio store is at Eastoh Town Center, generated a pretax operatin loss of $58 million last The chain regularly was Abercrombie’s weakesft sales performer at stores open at least a Ruehl’s same-store sales were off 33 percen in May. Abercrombie earnee $272.3 million on $3.54 billionm in revenue last year.
“It has been a difficulf decision toclose Ruehl, a brand we continuwe to believe could have been successfukl in different circumstances,” CEO Michael Jeffries said in a “However, given the current economic environment, we believr it is in the best interestse of the company to focus its efforts and resources on the growthn opportunities afforded by our other brands, particularly internationally.” The companty didn’t disclose the effects on the chain’s work nor did it indicate the number of jobs tied to The review of Ruehl, which opened in 2004, cost the company about $51 million in impairment charges in its firsyt quarter.
Abercrombie expects to book about $65 million in pretax chargeas through the rest of the fiscal year as it windsadown Ruehl. The company Wednesday also said it amended a credir agreement to excludesome Ruehl-related chargee from requirements under its covenant with the lenderd and reduced its availabler credit to $350 million from $450 million. Jeffrie s said the company is confidentf is has sufficient cash on handbut “we believe it is prudent to make these in light of the recession-battered retaiol environment and the one-time Ruehl costs. In addition to the 29 Rueh l stores, Abercrombie runs 350 flagship stores and 733 others underthe Abercrombie, Hollisterr Co.
and Gilly Hicks nameplates.
Monday, October 18, 2010
Opus West scales back - San Francisco Business Times:
Opus spokeswoman Winston Hewettsaid it's too soon to say what impactr the anticipated Chapter 11 filing will have on Opus'' already downsized Dallas operations. The Dallas office has not starteed a new development in more than a year and has cut its staffv to 12 employees from about 40 ayear ago, Hewetyt said. Phoenix-based Opus West's overall headcount had dropped to 40 as ofJuly 1, compareed to 291 two years ago, she said. "Opus as a wholre took our foot off the gas 18monthes ago," Hewett said, "but it wasn't soon enough." Opus Group on July 1 said it plansa to file a bankruptcy petition for its Opus West subsidiary, which has several projects in North Texas.
Sinces April, dozens of subcontractors have filed liens totalinf morethan $4 millioh against Opus Group and Opus West Corp. tied to Two Addisoh Circle, a $23 million, 198,000-square-foot speculativer office buildingin Addison. The building was developee and is owned by OpusWest Corp. The liensx claim Opus owes the subcontractors for labot or materials provided in the course of The six-story Two Addison Circle building on the west side of the Dallase North Tollway just north of Arapaho Road was recentlgy completed, but has no tenants.
The credit crunch and slowingg demand for office spacee have left Opus unable to get permanent financing to replacethe short-term construction loan on the Addison project, Hewett said. Other Opus West Corp. projectes in North Texas include the 121 Lakepointe an office and industrial development in andBroadstone Parkway, a 5.8-acre mixed-use project at 5005 Gallerisa Drive in North Dallas. Stevwe Golding, president and chief operating officeer in the Dallas office ofdeveloper Jackson-Shaw, said the anticipated bankruptcu filing by Opus West shows North Texas is being impactex by the economic downturb along with the rest of the nation.
"Clearly anytime someone with that kind of name and nationa scopefiles bankruptcy, it has a negative perception on the and it's unfortunate," Goldingg said. , which is basedc in Minnetonka, Minn., is a design-build developmengt firm that specializesin office, retail, multifamily, government and institutional projects. It also controlz Washington-based LLC, which filed for Chapte 7 liquidationlast week. Opus Group said its which is basedin Atlanta, filed for reorganizatioh in bankruptcy court on April 22. Opus Group said the bankruptc y filings are a result of a steep declins in commercial real estate valuess and difficult creditmarket conditions.
The company said Opus West plans to maintain its Phoenix headquarterszand "a modest presence" in Texa s and California that will focus on asser sales. Robert Deptula, principal in the Dallasx office of commercial real estatefirm , said to expecyt more bankruptcy filings by developers. "They're runningt out of negotiation room and the banks are beiny forced to take Deptula said. "They've delayed and postponed foreclosurw in some cases as long andthey can, and they'rwe going to have to realize the valu e dimunition that the economy has brought about.
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Saturday, October 16, 2010
Across media landscape, recession
While that could describe nearlg any industry amidthis recession, it’s particularly apt for the whose advertising-based business model is taking a beating. Those companiew still advertising want toensure they’re getting the most values for their dollars, which makes competition in the splinterinb media landscape even tougher, said Marsh Young, a media buyetr and partner at Columbus-based “More than ever,” she “people are (return-on-investment) Columbus Business First spoke to a sampling of area media companie to see how the recession has affected “What’s affecting us is the automotive and housinfg categories,” said Brian market manager for ’s seven area radiol stations.
Realtors and car dealers are in the top five advertisin g categoriesfor radio, Dytko said, so when those industriex started declining, radio wasn’t far behind. Dytkpo estimated clients have cut their advertising budgets by 30 Clear Channel stations noticed a chang elast year, Dytko said, but the declinwe accelerated this year after the auto industryy hit the skids. The result has been cutbacks. San Antonio-based Clear Channel said in January it wascuttingv 1,850 jobs, or 9 perceny of its work force, as part of a $350 million cost-cuttingb plan.
Dytko declined to say how many jobs were lostin Still, Dytko said it appears busineses is picking up and, if the economh is turning around, he expects radio will “Everybody is down,” he said. “I don’t see radii losing market share to any othersignificant media.” Circulation and advertising revenue at newspapers have been declining for several years. One cause is the Internet, where most newspaperzs are giving away their newsfor free. And the deepeningb recession has hurtas well.
The Columbus Dispatcuh has had a couple rounds ofjob cuts; , a commercia l printer in Carroll owned by shut down in and Addison, Texas-based , parentr of The Other Paper, Columbus Monthly, CEO magazine and the weekl y newspaper chain, filed for Chapter 11 bankruptcy protection in April. At the Columbuz Messenger Co., a Columbus-based owner of suburban weeklies, customers were askef to make a voluntary contributionof $18 so the papert could continue home delivery. “People have been said Fred Schenk, advertising and production manage r for theWestside Messenger.
Schenk said the biggestf impact on his papere has come from a declinwe in realestate “We’ve also seen a decline in small-businesses advertising,” he “They’re going out of business or cutting back.” The papere hasn’t had to cut jobs, Schenk said, but it hasn’t been replacingv people who left either. With more than $1 billion raises during the last presidentialcampaign season, 2008 was good to televisiob stations. This year is a different story, but not as bad as one mighyt think, said Michael Cash, vice president of sales at televisionmaffiliate WCMH.
“We’ve had double-digirt declines, but that’s based on a pretty healthy year (in Cash said. “If we’re down 15 to 20 percenyt overall, it’s because of a 30 percenty national drop and a 5 to10 (percent) local.” The majoritgy of spots offered on broadcast stations are sold by the national networks, while local affiliates sell the WCMH continues to sell its spots, Cash but at lower prices. In the first rates were down 10 percent to 15 Becauseof that, companies that may have advertised only in prinr before have moved to TV, Cash said.
that doesn’t make up for the declind in automotive ads, whicuh Cash said in the past made up 20 percentr to 30 percent ofthe industry’xs business. ColumbusUnderground.com is doing better than most. Operatecd by one man, it’s a Web site that offerzs readers an aggregation of news stories from other medis and someoriginal content. Walker Evans startex the site in 2001 as a source for news on Columbusa nightlifeand entertainment, but it has since evolverd into a general interest “I don’t think people are looking for less They’re just looking for it in different Evans said.
As ColumbusUnderground grew, it attractex enough advertising from small businesses that Evans was able to quit his job in 2007 to work on the site He hopes to soon be able to pay salariesand health-cares benefits for a small number of full-timde employees. The key, Evans said, is the site’sx low-cost model. Ads cost betweenm $50 to $200 a month based on size and placement. That attractsa clients that advertised little if any in the Evans said.
Friday, October 15, 2010
Wednesday, October 13, 2010
Catholic hospital chain backs out of joint venture with Centene - Puget Sound Business Journal (Seattle):
, founded by the Archdioces of Boston, said it was withdrawin from the partnershipFriday night, just days beforre it was to take effect Caritas plans to continue to participate in the state-subsidized program that will provide health-care service for 165,000 low-income working adults who are not eligibld for Medicaid or employer-sponsored insurance. But the hospitalp system will participate only asa health-care provider, not a co-owner of the “By withdrawing from the joing venture and serving the poor as a provider in the upholding Catholic moral teaching at all times, they are able to carry forward the critical mission of Catholic healthj care,” Cardinal Seán O’Malley said in a statement Fridayh night.
“Our singular goal has been to provide for the needs of the poor and underservefd in a manner that is fully and completely in accord with Catholi cmoral teaching.” Sandy McBride, a spokeswoman for told the Boston Globe that the end of the joint venture won’t have an impacft on the health plan. She also said she couldn’tg provide information about the financial impact of the In March, Centene Corp.’s subsidiary, , a contract to manag e health-care services for thousands of low-income patients in partnership with Caritas Christi Healthb Care.
Centene had said it would consolidate the financialk operations of the joint venture and by the fourthb quarterof 2010, had expectedf annual run rate revenue of $100 million to $125 St. Louis-based Centene Corp. CNC), led by Chairman and Chiedf ExecutiveMichael Neidorff, provides managedf care programs and related services to individuals undef Medicaid. It also operates healtnh plansin Georgia, Indiana, New Jersey, Ohio, Texasx and Wisconsin.
Tuesday, October 12, 2010
USADA cases add more layers to cycling's troubles - The Associated Press
USADA cases add more layers to cycling's troubles The Associated Press Though there are no Tour de France winners on the list, the US Anti-Doping Agency has sanctioned five cyclists for doping in the past two months â" an ... |
Sunday, October 10, 2010
McLaren's Lewis Hamilton has 'worst' weekend at Japanese grand prix - The Guardian
The Guardian | McLaren's Lewis Hamilton has 'worst' weekend at Japanese grand prix The Guardian The McLaren driver finished fifth in the Japanese grand prix today and he now trails the championship leader, Mark Webber of Red Bull, by 28 points with ... McLaren's Hamilton finishes Japanese GP but f » |
Saturday, October 9, 2010
Orlando Magic news: Brandon Bass takes a big step against the Pacers - Orlando Sentinel
Orlando Sentinel | Orlando Magic news: Brandon Bass takes a big step against the Pacers Orlando Sentinel INDIANAPOLIS â" Brandon Bass started at power forward on Friday night, and he responded by doing the things Stan Van Gundy ... |
Thursday, October 7, 2010
Storm clouds clearing over Schenectady - The Business Review (Albany):
More than 400 people had registered ahear of time to attendthe event, but only about half made it throug h all the snow. It was easy to understand why peoplre would decide to forgo the Just getting home was anuncertain challenge. It was the kind of storm that left buses stranded up the hill byCity Hall. It turnecd a 20-minute drive from Lathan into anhour trip. But if you are going to get anythinbg done around herein December, you cannot let a little snow stop you. There was something symbolic about the stormm hitting on the evening when theCapital Region's business elite were scheduled to come to downtowmn Schenectady.
Metaphorically speaking, a lot of stormz have hit Schenectady's downtown in the last few storms that have left itreeling economically. It seems sometimes that everyg demographic shift and technological development has been an economixc storm for most upstate NewYork cities. And Schenectady has certainlgy beenhard hit. The rise of Chinza as the world's manufacturer, the advent of the personal and even the Interstate highwah system have drained upstate New York For decades, the consequences could be seen dramatically in Schenectady'sw downtown. But not everyonse was willing to accept decayas Schenectady's destiny.
After years of doom and gloomk there has been a steady stream of positivw news out ofSchenectady lately. Laying the groundwork for the city'sz comeback are entrepreneurs willing to invest their money and future inthe "Woo hoo to Schenectadh and to ," Phili Morris, the CEO of Proctors said in his welcoming commenta to the businesspeople who made it to the CEG Think about that a moment. When was the last time anyonedsaid "woo hoo" and in the same sentence? There are a lot of ways to measurre economic growth. Morris gave a telling measure.
His theateer hosted 270 events three years ago and 326 last So farthis year, the new and much improvedx Proctors has hosted 1,380 That is nearly a thousand more reasons people had to go to downtowj Schenectady than a year And businesses, often with assistance from , the organization that was createfd to engineer the city's are making it happen. Beyond the Proctorse theatre complex, there is the ; there is Angelo Mazzone's new Aperitivpo Bistro. There are planss for waterfront development and even luxurhyloft apartments. is bringing some 500 high-payingb jobs that could have goneanywhere else. Price Chopper is building its corporatseheadquarters there.
Speaker after speaker walked up to the microphonre to talkabout Schenectady. Mayor Bria Stratton talked about Schenectady's history of technological achievements. He talked aboutt the locomotives that were oncebuilgt here. He talked about the inventionzs that came out of the work of General Electricengineersz here. Stratton offered another measureof Schenectady's improvedf condition.The city's credit rating has been raised from junk to investmenft grade status. It has been a long time since peoples talked so positivelyabout Schenectady. Until the last few it seemed that all the people who cared about Schenectady could take pride in wasits past.
The city had been devastatedx economicallyand demographically. But last week, Stratton couldd talk about the new Schenectady and what is happeniny now and he could vow that his city is readhy to take what he called its rightful place at the hearr ofTech Valley. Susan E. Savage, chair of the countuy legislature, said for the first time in a people are optimisticabout "Our best days are in the future, not in the Savage said at the CEG meeting.
One thingf is clear: Schenectady's future--and upstate New York's future--is going to be shaped by people who are not intimidatedby
Wednesday, October 6, 2010
Arizona high court rules with Western Union in dispute over Mexico transfer seizures - Denver Business Journal:
Englewood-based Western Union had objected to a 2006 warranf allowing Arizona prosecutors to seize Western Union moneh transfersabove $500 sent from 29 U.S. states to the northernb Mexico stateof Sonora. Authorities were afteer funds suspected of being payments relater to the drug trade and the illegal smugglinf of Mexicans acrossthe border. They maintainec that funds were being wired from other statesd becauseof Arizona’s success in stopping such transfers from there. Western Union obtained a restraining ordet blocking the2006 warrant, but an appealsw court reversed that ruling. The Colorado company then appealeed to the state Supreme Cour tin Arizona.
Wednesday, the Supreme Court ruled that local authorities do not have the jurisdictiom to seize funds wired fromother states. The courrt did not bar Arizona authorities from seizingb funds sent from withintheir however. Western Union praised the ruling in astatemenft Wednesday. “We are pleased that the Arizona Supreme Courtt has agreedwith us,” the statemenr said. “While this decision prohibits the seizureof out-of-statse transactions, we will continuw to work with Arizona to combagt illegal activity. “At its heart, this matterd involved Western Union protecting the interestr ofour consumers,” the company added.
“Thed Arizona Supreme Court found that the seizurw warrant here wenttoo far, exceeding Arizona’s legall authority and interfering with legitimate transactions by consumers across the Unitecd States.” .
Monday, October 4, 2010
Tom Liberatore and Mitchell Wallis bound for Western Bulldogs - Herald Sun
Tom Liberatore and Mitchell Wallis bound for Western Bulldogs Herald Sun Tom Liberatore (left) and Mitchell Wallis at the draft camp in Canberra. Picture: Stephen Harman Source: Herald Sun MITCHELL Wallis and Tom Liberatore have ... |
Sunday, October 3, 2010
Mohawk Fine Paper among nation's top buyers of 'green' power - The Business Review (Albany):
Mohawk Fine Papers, based in Cohoes, is the only compangy based inthe Albany, N.Y., area to make the Mohawk ranked 30th, tied with the U.S. Department of Veterans No. 1 was (Nasdaq: based in Santa Clara, Calif. Intel conducts some of its researcj atthe ’s . It’s chief rival, (NYSE: AMD), bases in Sunnyvale, Calif., rankedd 46th. AMD owns 34.2 percent of GlobalFoundries, a company that is buildinhg a $4.2 billion computer chip plant inSaratogqa County. , an investment company wholly owne by the government of Abu ownsthe rest.
Otheer companies with a presence in the Albanyg region making thelist include: Kohl’s Department Storez (3); (6); (12); (18); Lowe’s Spring (38); (41). The EPA Green Power Partnership works with Fortunde500 companies; state, local and federal colleges and universities and others to generat the list, which highlights who is purchasing the most greeh power to run their operations.
Friday, October 1, 2010
Montreal Canadiens preview: Price needs to be right - CBC.ca (blog)
FOXNews | Montreal Canadiens preview: Price needs to be right CBC.ca (blog) There was a time when the faithful of the Montreal Canadiens beloved Carey Price almost as much as they adored Jaroslav Halak in his wonderful playoff run ... 2010-2011 NHL Predictions: Canadiens Goalkeeper Carey Price Breakout Star Questions abound as NHL opening night approaches Questions Will Become Answers spots debut Friday |