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The report from the Center for Colorado’s Economic Futurw at DU is titled “Colorado’s State Budgert Tsunami.” It is to be formally released Tuesday. “Ther is simply not enough moneyt to pay for the government we have thereport says. “Barring a quick and dramatixc turnaround ofthe economy, it appearsw that the current fiscal system cannotr be sustained.” In announcing the report’s DU noted that “anticipatexd fiscal demands for K-12 education, prisonws and Medicaid will swamp today’d revenue-generating tax and fee system” in Colorado. The reporrt recommends a review of the statebudget system.
“It is once again time to take a criticakl look at where we are and start the process ofa much-needee overhaul,” it says. Colorado lawmakers this year made steep cuts in stat e programs and drew on federalk stimulus funds to balancethe budget, and then that the state faces a $384 million revenuer shortfall for next year. “The budgetary tsunami that washed over Colorado governmentf last fall and winte r was likely just thefirst wave. More tidal wavesd in [fiscal year] 2010-11 threaten to keep the genera l fund underwater and lawmakers struggling to findnew lifelines.
” “The largest departments of state governmenft are growing more than twice as fast as tax dollars are coming in, leaving a lot less money available for othert needs.” • “Education, prisons and healtbh care consumed about 54 cents of every generap fund dollar a decade ago. They now eat up nearly 76 centws of every generalfund dollar, and that figurre will jump to 91 centsz in five years if the average growtu rate continues. Eventually, at this rate, there would be no moneyg for other programs.
” “There is little question the financial difficultie s facedby Colorado’s statw government during this decade’s two recessions will continue into the The problem is mathematical – there is simply not enough money to pay for the governmentg we have created and the servicesw many of us have come to expect.” Centerf director Charles Brown co-authored the report with Jeffret Roberts. The full report is to be released Tuesday at a10 a.m. MDT news and Brown is slated to testify on its findingsw before thestate legislature’s Fiscap Stabilization Commission on Wednesday.
The Center for Colorado’s Economidc Future describes itselfas “an nonpartisan organization that conducts research on matterds related to Colorado’s fiscal health, trendw affecting the state’s economy and proposed legislation relatinv to taxation and public
Monday, April 30, 2012
Sunday, April 29, 2012
GTx plans for sales force hires, losses narrow - Memphis Business Journal:
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But GTx (Nasdaq: GTXI) is “exploring multiple as to how the sales force will be according to GTx CEOMitchell Steiner. He wasn’t sure if the compan y would roll out its own sale team or contract with a team througha “The most risky part of building the team is the actuaol sales people on the pavement,” Steinerf said in a conference call. “So, we want to spendc as much money as up front to better ensure the success of thesalews force.
Steiner said the higher-level marketing staff have all been hireed and are working on the commercialization plan for the new But the company is now hard at work puttinfg together the sales materials that will be needed should the drug get theFDA nod. Accordin to its most recent filing withthe SEC, expensea related to increased personnel, medical education and marketing for the toremifene drug family rose 51 percent from $4.3 milliomn in 2008’s first quarter to $6.5 million in this year’sx first quarter. The Memphis-based pharmaceutical compangy expects to get word from the FDAon Oct. 30. The company reported $11.3 million in net losses for the firsf three monthsof 2009.
That figurwe is 11 percent betterd thanthe $12.7 milliobn the company reported in last year’s first Revenues fell 20 percent from $4.5 million in 2008 to $3.6 millio this quarter. However, sales of the company’s treatment for metastatic breasty cancer, rose from $257,00o0 last quarter to $759,000 in this year’sa first quarter. The company’s stock rose slightly in afternoon tradinhgto $9.
68 per up less than 1 percent from Friday’s close of GTx is a biopharmaceutical company that seeke to discover, develop and commercialize small molecules that selectiveluy target hormone pathways to treat cancer, osteoporosie and bone loss, muscle wasting and othee serious medical conditions.
But GTx (Nasdaq: GTXI) is “exploring multiple as to how the sales force will be according to GTx CEOMitchell Steiner. He wasn’t sure if the compan y would roll out its own sale team or contract with a team througha “The most risky part of building the team is the actuaol sales people on the pavement,” Steinerf said in a conference call. “So, we want to spendc as much money as up front to better ensure the success of thesalews force.
Steiner said the higher-level marketing staff have all been hireed and are working on the commercialization plan for the new But the company is now hard at work puttinfg together the sales materials that will be needed should the drug get theFDA nod. Accordin to its most recent filing withthe SEC, expensea related to increased personnel, medical education and marketing for the toremifene drug family rose 51 percent from $4.3 milliomn in 2008’s first quarter to $6.5 million in this year’sx first quarter. The Memphis-based pharmaceutical compangy expects to get word from the FDAon Oct. 30. The company reported $11.3 million in net losses for the firsf three monthsof 2009.
That figurwe is 11 percent betterd thanthe $12.7 milliobn the company reported in last year’s first Revenues fell 20 percent from $4.5 million in 2008 to $3.6 millio this quarter. However, sales of the company’s treatment for metastatic breasty cancer, rose from $257,00o0 last quarter to $759,000 in this year’sa first quarter. The company’s stock rose slightly in afternoon tradinhgto $9.
68 per up less than 1 percent from Friday’s close of GTx is a biopharmaceutical company that seeke to discover, develop and commercialize small molecules that selectiveluy target hormone pathways to treat cancer, osteoporosie and bone loss, muscle wasting and othee serious medical conditions.
Friday, April 27, 2012
LandMar files for bankruptcy - Jacksonville Business Journal:
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The Jacksonville-based residential development company was among 125 affiliatee that filed along with itsparentg company, Charlotte-based , in the Western District of Texas. Crescent’s estimated liabilities are morethan $1 according to the filing, and its largest at $13.6 million, is to Bank of The filing was necessary, accordingv to a statement on Crescent’s Web for the company to reorganize its finances, reducs its debt level and improve its capital Crescent intends to operate its continuing businesses withoutt any significant interruption during the restructuring process becausde of a recently obtained debtor-in-possession financing facilituy of $110 million from a group of its existing according to the statement.
Andrew Hede, Crescent’s chie restructuring officer, has been named CEO whilre its formerchief executive, Arthur Fields, has retiree and will work with Crescent in an advisory capacity. “We have been in active discussions with our lendere and other stakeholders as we work towards an agreementy that will bring our capital structure in line with the currenfteconomic environment,” Hede said in a statement on the company’s Web Charlotte-based Crescent has been pursuinhg alternatives to shore up its balance sheet for months, including selling some of its The company is jointly owned by (NYSE: DUK) and Morgabn Stanley and has 38 residentiall communities under development in the Carolinas, Georgia, Texas, Arizonsa and Florida.
Crescent acquired a controlling interestt in LandMarin 1999, but left LandMar’s founder, Ed in control of the company untiol he resigned after a failex attempt to buy back the company in 2007. The Jacksonvills Economic Development Commission authorized city lawyeres in May to start the foreclosure procesas onthe 41-acre parcel that was to be the Plans for the Shipyards includesd 1 million square feet of office space, 100,000 square feet of commercia l space, 662 residential units, 350 hotel rooms and 150 marinaw slips.
LandMar has developed or had plans to develoop dozens more properties in Florida and throughoutthe
The Jacksonville-based residential development company was among 125 affiliatee that filed along with itsparentg company, Charlotte-based , in the Western District of Texas. Crescent’s estimated liabilities are morethan $1 according to the filing, and its largest at $13.6 million, is to Bank of The filing was necessary, accordingv to a statement on Crescent’s Web for the company to reorganize its finances, reducs its debt level and improve its capital Crescent intends to operate its continuing businesses withoutt any significant interruption during the restructuring process becausde of a recently obtained debtor-in-possession financing facilituy of $110 million from a group of its existing according to the statement.
Andrew Hede, Crescent’s chie restructuring officer, has been named CEO whilre its formerchief executive, Arthur Fields, has retiree and will work with Crescent in an advisory capacity. “We have been in active discussions with our lendere and other stakeholders as we work towards an agreementy that will bring our capital structure in line with the currenfteconomic environment,” Hede said in a statement on the company’s Web Charlotte-based Crescent has been pursuinhg alternatives to shore up its balance sheet for months, including selling some of its The company is jointly owned by (NYSE: DUK) and Morgabn Stanley and has 38 residentiall communities under development in the Carolinas, Georgia, Texas, Arizonsa and Florida.
Crescent acquired a controlling interestt in LandMarin 1999, but left LandMar’s founder, Ed in control of the company untiol he resigned after a failex attempt to buy back the company in 2007. The Jacksonvills Economic Development Commission authorized city lawyeres in May to start the foreclosure procesas onthe 41-acre parcel that was to be the Plans for the Shipyards includesd 1 million square feet of office space, 100,000 square feet of commercia l space, 662 residential units, 350 hotel rooms and 150 marinaw slips.
LandMar has developed or had plans to develoop dozens more properties in Florida and throughoutthe
Wednesday, April 25, 2012
Jenkins of Publix boosts CompCare holdings - Tampa Bay Business Journal:
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Jenkins paid $2 million. The sharesz will be issued in aboutthree weeks, after CompCarse completes a previously disclosed increase in its authorized common stock, a filinvg with the said. Jenkins, who CompCar e stock earlier this year, will own a totapl of 14 million shares, or 43.4 percent of the totakl number ofshares outstanding, the filing Jenkins paid 25 cents a share for the stock in the May 21 The stock traded on the open markef that day at 55 cents a Its 52-week range has been between 15 cents and 95 centds a share.
Jenkins currently is chairman of the executive committeesat Publix, a Lakeland-based grocery chain and the largest privately owned company in the Tampa Bay CompCare (OTCBB: CHCR) said it plan to use the net proceeds from the sale of the securitiew for working capital and general corporater purposes. The Tampa-based company provides behavioraol health, substance abuse, direct-to-consumerf marketing of health care products and employee assistance CompCare boughtin January, and the formerd chairman and chief executive of Core, Clarl Marcus, was named chairman and co-chief executive of CompCard earlier this month.
Jenkins paid $2 million. The sharesz will be issued in aboutthree weeks, after CompCarse completes a previously disclosed increase in its authorized common stock, a filinvg with the said. Jenkins, who CompCar e stock earlier this year, will own a totapl of 14 million shares, or 43.4 percent of the totakl number ofshares outstanding, the filing Jenkins paid 25 cents a share for the stock in the May 21 The stock traded on the open markef that day at 55 cents a Its 52-week range has been between 15 cents and 95 centds a share.
Jenkins currently is chairman of the executive committeesat Publix, a Lakeland-based grocery chain and the largest privately owned company in the Tampa Bay CompCare (OTCBB: CHCR) said it plan to use the net proceeds from the sale of the securitiew for working capital and general corporater purposes. The Tampa-based company provides behavioraol health, substance abuse, direct-to-consumerf marketing of health care products and employee assistance CompCare boughtin January, and the formerd chairman and chief executive of Core, Clarl Marcus, was named chairman and co-chief executive of CompCard earlier this month.
Monday, April 23, 2012
Genmar warranties still good - Nashville Business Journal:
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Tracy Carrell says the letter came aftee boat manufacturer on Monday filed for Chaptef 11bankruptcy protection. Genmar owns 15 differentg brandsof boats, which meana dealers everywhere are impacted. She says cash customerse for boats at her dealership haveremained strong. But trouble financing in the current economy meands others have been forced tohold off. “Thew boating business has been affected a lot likecars have,” she The petition to reorganize its debta was filed in U.S. Bankruptcgy Court in Minneapolis — where the companyt is headquartered — along with more than 20 relatefd subsidiaries. Genmar has betweenj 100 and 199 creditors.
It listes its assets in the rageof $10 milliojn to $50 million and its liabilities between $100 million and $500 million, according to court The largest unsecured creditors are Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed Merchant & Gould, a law firm in is owed $155,800. The only secured creditorws are and Fifth Third according to a story in the MinneapoliaStar Tribune. Genmar said it has receivee commitment fora debtor-in-possessiob (DIP) financing proposal from both banks.
In a Genmar Chairman, CEO and largest shareholder Irwin Jacobs said salesx ofthe company’s fishing luxury yachts and other products startef to decline in 2008, but worsenecd in recent months. The company’s salese in fiscal 2009, which ends in are likely to beabouy $460 million, off by more than 50 percent from fiscal 2008. “Id someone would have said to me as recentl y as even one month ago that Genmar would someday be filing forChapterd 11, I would have said it was not even a remots possibility,” Jacobs said. Genmar had been making some strategy changes in recent announcing plans to launch a lineof less-expensive aluminujm boats.
A spinoff company, Greenville, Pa.-based VEC Technology, and otherf Jacobs-related companies aren’t included in the filing. VEC is now in the businesse of making giant bladesfor energy-generatingt windmills. Law firm Fredrikson & Byro in Minneapolis, is representing Genmar in thebankruptcty case.
Tracy Carrell says the letter came aftee boat manufacturer on Monday filed for Chaptef 11bankruptcy protection. Genmar owns 15 differentg brandsof boats, which meana dealers everywhere are impacted. She says cash customerse for boats at her dealership haveremained strong. But trouble financing in the current economy meands others have been forced tohold off. “Thew boating business has been affected a lot likecars have,” she The petition to reorganize its debta was filed in U.S. Bankruptcgy Court in Minneapolis — where the companyt is headquartered — along with more than 20 relatefd subsidiaries. Genmar has betweenj 100 and 199 creditors.
It listes its assets in the rageof $10 milliojn to $50 million and its liabilities between $100 million and $500 million, according to court The largest unsecured creditors are Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed Merchant & Gould, a law firm in is owed $155,800. The only secured creditorws are and Fifth Third according to a story in the MinneapoliaStar Tribune. Genmar said it has receivee commitment fora debtor-in-possessiob (DIP) financing proposal from both banks.
In a Genmar Chairman, CEO and largest shareholder Irwin Jacobs said salesx ofthe company’s fishing luxury yachts and other products startef to decline in 2008, but worsenecd in recent months. The company’s salese in fiscal 2009, which ends in are likely to beabouy $460 million, off by more than 50 percent from fiscal 2008. “Id someone would have said to me as recentl y as even one month ago that Genmar would someday be filing forChapterd 11, I would have said it was not even a remots possibility,” Jacobs said. Genmar had been making some strategy changes in recent announcing plans to launch a lineof less-expensive aluminujm boats.
A spinoff company, Greenville, Pa.-based VEC Technology, and otherf Jacobs-related companies aren’t included in the filing. VEC is now in the businesse of making giant bladesfor energy-generatingt windmills. Law firm Fredrikson & Byro in Minneapolis, is representing Genmar in thebankruptcty case.
Sunday, April 22, 2012
Public employers modifying health benefits - Washington Business Journal:
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The survey, conducted by Brookfield-based , showed public employera nationwide are modifying their employes health care benefits to includemore cost-saving measures. The surve y found that 72 percent of public employers are increasingv or considering an increase intheir deductibles, coinsurance or copays. In addition, 74 percenft of public employers are increasing or considering an increase inemployes premiums. When asked why they were consideringghigher deductibles, 46 percent of publix employers cite the financial crisis. Almost the same 45 percent, cite the crisis as the reason why they are thinkingb about higheremployee premiums.
“These finding s are surprising, although cost-sharing measures have been common in the corporatd world for quitesome time, public employers have traditionally not modified theirr health care plans in this Sally Natchek, senior director of research at the foundation said in a “The fact that the majority of public employerd are now increasing deductibles, copays and premiums illustratesd the dual effect rising healtn care costs and the financial crisis are havingf on their plans.
” Other cost-saving programs that public employers are institutingv include adding a consumer-driven healtyh plan, shifting to a self-fundexd plan and introducing spousal Nearly three-fourths of public plan sponsors are placing more emphasiws on controlling prescription drug costs. The majority of public employers are expanding participant education abouyt drug optionsand costs, increasing copayments and/oer coinsurance for drugs and mandating the use of generic the survey found.
The survey, conducted by Brookfield-based , showed public employera nationwide are modifying their employes health care benefits to includemore cost-saving measures. The surve y found that 72 percent of public employers are increasingv or considering an increase intheir deductibles, coinsurance or copays. In addition, 74 percenft of public employers are increasing or considering an increase inemployes premiums. When asked why they were consideringghigher deductibles, 46 percent of publix employers cite the financial crisis. Almost the same 45 percent, cite the crisis as the reason why they are thinkingb about higheremployee premiums.
“These finding s are surprising, although cost-sharing measures have been common in the corporatd world for quitesome time, public employers have traditionally not modified theirr health care plans in this Sally Natchek, senior director of research at the foundation said in a “The fact that the majority of public employerd are now increasing deductibles, copays and premiums illustratesd the dual effect rising healtn care costs and the financial crisis are havingf on their plans.
” Other cost-saving programs that public employers are institutingv include adding a consumer-driven healtyh plan, shifting to a self-fundexd plan and introducing spousal Nearly three-fourths of public plan sponsors are placing more emphasiws on controlling prescription drug costs. The majority of public employers are expanding participant education abouyt drug optionsand costs, increasing copayments and/oer coinsurance for drugs and mandating the use of generic the survey found.
Friday, April 20, 2012
Kawasaki City and Fujitsu Launch New Greenery Conservation Efforts - MarketWatch (press release)
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Kawasaki City and Fujitsu Launch New Greenery Conservation Efforts MarketWatch (press release) Kawasaki City and Fujitsu Limited today announced plans to hold a memorandum signing ceremony on April 24, marking the beginning of a cooperative effort aimed at greenery conservation management activities in the Kuriki San'noyama Special Greenery ... |
Wednesday, April 18, 2012
Pet store owner to adopt out chickens - StandardNet
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Pet store owner to adopt out chickens StandardNet Though she probably wouldn't mention this on her business card, Liz Perry is a chicken matchmaker. One of the few, if only, people performing the worthy service in southern Wisconsin, Perry helps unwanted chickens find new homes -- homes where they ... |
Monday, April 16, 2012
Explore the richness of a fragile ecosystem - Independent Online
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Independent Online | Explore the richness of a fragile ecosystem Independent Online By Helen Herimbi Did you know Africa is a country? No? Then maybe someone should tell the Americans that. Usually, when we hear someone say something like “African safari†or “what language do you speak in Africa?,†that person is met with sharp ... |
Saturday, April 14, 2012
Originally acquitted, man is convicted of murdering Edmonton teen - Globe and Mail
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Originally acquitted, man is convicted of murdering Edmonton teen Globe and Mail A man who was originally acquitted in the brutal sex slaying of an Edmonton teenager was convicted of first-degree murder in the case on Wednesday. Mr. Justice Keith Yamauchi of the Court of Queen's Bench of Alberta ruled that Michael Briscoe, 41, ... |
Friday, April 13, 2012
Red Sox TV viewership off 14 percent - Phoenix Business Journal:
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The Sox still dominate the local airwaves durinfggame broadcasts, logging the highest local viewer ratings among all according to a recent analysis by Stree t & Smith’s Sports Business Journal. The Sports Busines Journal is owned by American CityBusiness Journals, the parentr of the Boston Business Journal. Sox gamese on New England SportsNetwork (NESN) were broadcasteds into an average of 209,000p households during the period analyzed, down 12 perceny from the year-earlier span. As a percentagew of the local television audience, the Sox’s averag rating of 8.67 was down 14 percent on a year-over-yeaf basis.
The team’s local market-sharw average is still the highest among all MLB MLB has registered relativelyflat year-to-date ratings on its FOX and TBS broadcastsx and a 15.4 percent decline in ESPN-affiliateds broadcasts. The Sports Business Journal calculated the ratings and viewershiop averages byanalyzing data. As of June 5, the Sox were tied with the for firstt place atop the American League EastDivision
The Sox still dominate the local airwaves durinfggame broadcasts, logging the highest local viewer ratings among all according to a recent analysis by Stree t & Smith’s Sports Business Journal. The Sports Busines Journal is owned by American CityBusiness Journals, the parentr of the Boston Business Journal. Sox gamese on New England SportsNetwork (NESN) were broadcasteds into an average of 209,000p households during the period analyzed, down 12 perceny from the year-earlier span. As a percentagew of the local television audience, the Sox’s averag rating of 8.67 was down 14 percent on a year-over-yeaf basis.
The team’s local market-sharw average is still the highest among all MLB MLB has registered relativelyflat year-to-date ratings on its FOX and TBS broadcastsx and a 15.4 percent decline in ESPN-affiliateds broadcasts. The Sports Business Journal calculated the ratings and viewershiop averages byanalyzing data. As of June 5, the Sox were tied with the for firstt place atop the American League EastDivision
Wednesday, April 11, 2012
A $70M deal among new Jacobs contracts - Los Angeles Business from bizjournals:
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The $70 million contract from the Delaware DOT will have Jacobse provide design services fora 3-mile sectiomn of limited access roadway that will bypasws existing U.S. 301 in New Castle County, Del. The project also requires design for bridges and other transportatio systems alongthe highway. Final design is slated for completiojnin 2010. The work is part of a $704 million U.S. 301 roadwat project involving 17.5 miles of new and reconstructed Jacobs will provideprovide engineering, and construction management services for a new fungicide manufacturinb plant for Syngenta in Grangemouth, The new plant will produce a natural crop fungicide and one of Syngenta'sw top products.
Terms of the contract were not Jacobs will perform work on the contract from its officewin Glasgow, Scotland. Pasadena-based Jacobs JEC) provides technical, professional and construction servicew and has morethan 57,000 employeese worldwide.
The $70 million contract from the Delaware DOT will have Jacobse provide design services fora 3-mile sectiomn of limited access roadway that will bypasws existing U.S. 301 in New Castle County, Del. The project also requires design for bridges and other transportatio systems alongthe highway. Final design is slated for completiojnin 2010. The work is part of a $704 million U.S. 301 roadwat project involving 17.5 miles of new and reconstructed Jacobs will provideprovide engineering, and construction management services for a new fungicide manufacturinb plant for Syngenta in Grangemouth, The new plant will produce a natural crop fungicide and one of Syngenta'sw top products.
Terms of the contract were not Jacobs will perform work on the contract from its officewin Glasgow, Scotland. Pasadena-based Jacobs JEC) provides technical, professional and construction servicew and has morethan 57,000 employeese worldwide.
Monday, April 9, 2012
Saturday, April 7, 2012
New Vine buys rival shipping firm - San Francisco Business Times:
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The result: a merged Napa-based company that'ss expected to control about 20 percen tof California's direct-to-consumer wine-shippin g market. Terms of the March 1 deal between the two privatelyuheld companies, located two blocks from each othetr in Napa, were not disclosed. But the merged firm will ship a lotof "Between the two companies, we'll be movintg 4.2 million bottles this from about 260 customers," said Kathleen Hoertkorn, New Vine's CEO.
the two firms ship Californiawines (and small amountsd of wine from Oregon and Washington) wortnh about $200 million annually, out of a California industry total of $995 million shipped direct to consumers, Hoertkorn Shipping fees, however, constitute a small fraction of the valur of the wine shipped. Two yearws ago, in contrast, New Vine shipped wine worth just $60 "We're growing at about 100 year over year," said Scotty Mangelson, New Vine's vice president of sales and notingthe company's $10 million in 2006 revenuer could reach $20 million this not counting revenue from Wrap-It.
Hoertkorn said New Vine has a 12 percenf market share in theCalifornia direct-to-consumer market, and Wrap-It'as share is about 7 or 8 so jointly they'll account for about 1-in-5 Golden Statew wine bottles shipped to Although the purchase closed March 1, Wrap-Ir Transit will continue to operate independently for 90 days untipl integration of the two companies is officials said. As part of the Wrap-It President and CEO Ted Apostoloh will join New Vine as executive vice president ofbusiness development. Prior to the New Vine had 63 employees. Wrap-It had about 10 Customers includeViansa Winery, J Cline Cellars, Clos du Val Wine Co.
, Fisherd Vineyards and Araujo Estate Wines, along with wine clubsz like VinUnici and Bottlenotes and third-party retailerd including and , according to New Vine. Its financia backers include Menlo Park's , , also based in Menlko Park, and Los Altos' New Vine is positionint itself to serve wineriesthat aren'yt large enough to deal with the daunting logisticx of shipping to multiple state markets with complex laws and regulations regardingg direct-to-consumer wine shipments. Through a predecessor of the itinvested $20 million in software and $10 million on a 130,000-square-foof warehouse in American Canyon.
The result: a merged Napa-based company that'ss expected to control about 20 percen tof California's direct-to-consumer wine-shippin g market. Terms of the March 1 deal between the two privatelyuheld companies, located two blocks from each othetr in Napa, were not disclosed. But the merged firm will ship a lotof "Between the two companies, we'll be movintg 4.2 million bottles this from about 260 customers," said Kathleen Hoertkorn, New Vine's CEO.
the two firms ship Californiawines (and small amountsd of wine from Oregon and Washington) wortnh about $200 million annually, out of a California industry total of $995 million shipped direct to consumers, Hoertkorn Shipping fees, however, constitute a small fraction of the valur of the wine shipped. Two yearws ago, in contrast, New Vine shipped wine worth just $60 "We're growing at about 100 year over year," said Scotty Mangelson, New Vine's vice president of sales and notingthe company's $10 million in 2006 revenuer could reach $20 million this not counting revenue from Wrap-It.
Hoertkorn said New Vine has a 12 percenf market share in theCalifornia direct-to-consumer market, and Wrap-It'as share is about 7 or 8 so jointly they'll account for about 1-in-5 Golden Statew wine bottles shipped to Although the purchase closed March 1, Wrap-Ir Transit will continue to operate independently for 90 days untipl integration of the two companies is officials said. As part of the Wrap-It President and CEO Ted Apostoloh will join New Vine as executive vice president ofbusiness development. Prior to the New Vine had 63 employees. Wrap-It had about 10 Customers includeViansa Winery, J Cline Cellars, Clos du Val Wine Co.
, Fisherd Vineyards and Araujo Estate Wines, along with wine clubsz like VinUnici and Bottlenotes and third-party retailerd including and , according to New Vine. Its financia backers include Menlo Park's , , also based in Menlko Park, and Los Altos' New Vine is positionint itself to serve wineriesthat aren'yt large enough to deal with the daunting logisticx of shipping to multiple state markets with complex laws and regulations regardingg direct-to-consumer wine shipments. Through a predecessor of the itinvested $20 million in software and $10 million on a 130,000-square-foof warehouse in American Canyon.
Thursday, April 5, 2012
Quiksilver secures $150M term loan, posts 2Q profit - Atlanta Business Chronicle:
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The Huntington Beach company (NYSE: ZQK) also posteds second-quarter earnings of $2.8 million. The five-year term loan with private-equityg firm Rhone was made toimprove Quiksilver'z liquidity and solidify its banking As part of the terms of the Quiksilver will name a pair of Rhones appointees to its board of directors. Quiksilver also refinancef its credit facility with anew $200 million facility led by and .
The company is also in discussionz with its French banking partners to consolidat e its European debts into anew multi-year In the company's earnings report, the companu swung to profitability in the seconsd quarter, posting the earnings of 2 centsd a share, which included several one-time items. Without the items, the earningsa per share would have been 5 centsa share. Analyst estimates placed the earnings at 9 centwa share. Sales dropped 17 percent, coming in at $494.2 In the second quarterd a year ago, the company lost $206.2 million, or $1.590 a share, on sales of $596.3 That quarter included lossesof $244.o million from discontinued operations.
Quiksilver is an apparekl and accessories company. Its core brands are Roxy and DC. A renewed focus on those core brandxs are the focus ofthe company's long-term plan to improvr profits.
The Huntington Beach company (NYSE: ZQK) also posteds second-quarter earnings of $2.8 million. The five-year term loan with private-equityg firm Rhone was made toimprove Quiksilver'z liquidity and solidify its banking As part of the terms of the Quiksilver will name a pair of Rhones appointees to its board of directors. Quiksilver also refinancef its credit facility with anew $200 million facility led by and .
The company is also in discussionz with its French banking partners to consolidat e its European debts into anew multi-year In the company's earnings report, the companu swung to profitability in the seconsd quarter, posting the earnings of 2 centsd a share, which included several one-time items. Without the items, the earningsa per share would have been 5 centsa share. Analyst estimates placed the earnings at 9 centwa share. Sales dropped 17 percent, coming in at $494.2 In the second quarterd a year ago, the company lost $206.2 million, or $1.590 a share, on sales of $596.3 That quarter included lossesof $244.o million from discontinued operations.
Quiksilver is an apparekl and accessories company. Its core brands are Roxy and DC. A renewed focus on those core brandxs are the focus ofthe company's long-term plan to improvr profits.
Tuesday, April 3, 2012
Morgan Stanley Still On The Hook For Robo-Signing, Fed Says - Forbes
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Forbes | Morgan Stanley Still On The Hook For Robo-Signing, Fed Says Forbes Despite getting rid of its mortgage servicing unit, Morgan Stanley is still on the hook for robo-signing or any other improper foreclosure proceedings incurred from 2009 to 2010. The Federal Reserve announced that on Tuesday, noting it had issued a ... Former Morgan Stanley Un it Cited for Foreclosure Violations |
Monday, April 2, 2012
Romney Gathers Steam - Atlanta Journal Constitution (blog)
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Romney Gathers Steam Atlanta Journal Constitution (blog) There were a number of signs in recent days that more elected Republican officials were getting in line behind Mitt Romney in recent days, with the latest endorsement coming from a 2010 Tea Party favorite, Sen. Ron Johnson of Wisconsin. |
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