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And he’s not about to let his just die. But in the restaurantg businessyou can’t change things with a ham-handed And you can’t bring big change to a fine dininyg restaurant without alerting (and possiblyt running off) the regulars. So the most recengt thing Vaughn has changed arethe hours. Once only open for the East Memphis “bustling neighborhoocd bistro” is now open every day from 11 a.m.-11 p.m. “Houston’s is open at 11 a.m. and they’re on wait unti they close,” Vaughn says.
“That’s a piece of our The River Oaks menu will not changefor lunch, will be the same until the doors close and is the same menu “ourr regulars have come to The only difference is the lunch portion will be half of the dinned portion and cost half as much. Vaughnj says the Memphis dining scene is inbad shape. The restaurant he says, is holding its own with a firm foundation laid years ago by pioneering chefas and new directions from chefs like But the recession has made customers scale Some folks that used to go to River Oaks are now goinygto . Those that went to Houston’s are going to or othedr fast casual places.
Vaughn says he’e seen a 30% decline in businesx over the past year, whicn is a large chunk for a smalp restaurant thatseats 85. But for the Riverd Oaks loyals, Vaughn isn’t about to chang e their culinary refuge. “The goal for this restaurang is to ride out thetough times, manage our costss and not allow it to reflect to our Vaughn says. “We’re not going to cheapeh the place up.” For you’re not going to find two-for-one drinki specials every night. But on you’ll find all wine labeles half off.
Vaughn’s able to do that, he through a good relationship with his local The biggest change for Riverr Oaks came about two years ago when Vaughnj says he first sawbusiness decline. Back then, he was shippintg ingredients to Memphis from all over the worlcd via The hundreds of dollars in additionap freight costs began toadd up. “What I failefd to realize is that (local are in the same boat I’ m in,” Vaughn says. “We’re all strugglingg for a bigger piece ofthe So, Vaughn now chooses his ingredients from more local farms. He gets as much as he can from Arkansasand Mississippi, but stretches out to Louisiana and Alabama.
The local food movement is in full swinfg says editor and publisherMelissa Petersen. When she and her husband arrived here two years ago therde weretwo farmer’s markets. Now there are five in the Memphisw area. Her magazine’s food guide used to highlight localp restaurants that cooked with local ingredientx and then listthosw ingredients. Frankly, she says, she’s run out of room in the pring edition. With local restaurants’ help, farmersw are slowly able to convert from a retail to a wholesalsebusiness model, she says. “They are workingf with chefs and growing whatthey want,” Peterseb says.
“The farmers are bringing fresh deliveriexs to chefs each day and the whole thiny produces a little cost savings forthe restaurants.” Fresh ingredientzs means a fresh menu, Vaughn says, as he has to cook with the differentr growing seasons. This has produced a following that includex executives withFedEx Corp., and other businesses who go to Rivef Oaks to see what Vaughn creates. That free rein to do as he pleasea is one of the biggesy business forces that guidesRivet Oaks.
The restaurant is owned by a grouplof five, local investors who take their “silent titles very seriously and have put Vaughn’s name at stake for the The same investors are responsible for the renovatiomn on the same lot as Rived Oaks. In developing the hotel, they couldn’t leaver the former Cockeyed Camelspace vacant, so they invested $2.5 million in transformingy the Camel into River Oaks, named for the East Memphix neighborhood. Vaughn came to Memphis in 2003 as a chef with HiltobHotels Corp. River Oaks opened in 2006 with another Vaughn was tapped after thatrelationshipp didn’t work out.
“Itg takes some people a lifetimde and a fortune to get to that placee where you have the abilitu to do whatyou want, how you want and when you Vaughn says. “So, this has been an amazing experiencefor
Wednesday, February 27, 2013
Friday, February 22, 2013
Law schools should offer an 'O'Wendell' - STLtoday.com
savimy.blogspot.com
Law schools should offer an 'O'Wendell' STLtoday.com “The great thing in this world is not so much where we stand, as in what direction we are moving.†â€" Oliver Wendell Holmes. The structural changes underfoot in the legal profession have wreaked havoc on the psyches and balance sheets of an entire ... |
Tuesday, February 12, 2013
New pope doesn't mean new doctrine, experts say - NBCNews.com (blog)
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NBCNews.com (blog) | New pope doesn't mean new doctrine, experts say NBCNews.com (blog) New pope doesn't mean new doctrine, experts say. Alberto Pizzoli / AFP - Getty Images. Pope Benedict XVI's abdication is unlikely to lead to big changes on major issues, experts say. By Tracy Connor, Staff Writer, NBC News. Some Catholic progressives ... Pope Resigns 2013: New Leader Doesn't Mean Reform For the Catholic Church 'One Doesn't Step Down From the Cross' |
Wednesday, February 6, 2013
Analyst: Component shortages impacting ultra-slim PC availability - ZDNet
haygoodfoafyga1359.blogspot.com
ZDNet | Analyst: Component shortages impacting ultra-slim PC availability ZDNet Analyst: Component shortages impacting ultra-slim PC availability. Summary: With only two panel suppliers willing to shoulder the additional expense incurred from using ultra-slim glass, this could put a squeeze on the growing ultra-slim PC market. |
Friday, February 1, 2013
GlaxoSmithKline, Salix among pharmas facing patent expirations - Denver Business Journal:
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New Jersey pharmacy benefits manager estimates that up to 95 percent of patients switch to generices within the first week of a drug losinvgpatent protection. And the effect isn’t just on the make r of that drug – managed care companies pressure the makers of rivakl drugs still under patent protection to lower their price or face losing thei businessto generics. Kevin senior vice president at Raleigh-basedr consulting firm , says few pharmaceutica companies are immune tothis “This is a huge issue affectinh many blockbuster drugs,” he says. Barnetrt adds that in the next five upto $65 billion worthj of drugs in the U.S.
will lose theidr legal protection togeneric substitutes. The drug categoriesw most affected by this trend will be the crowdesones – those with many competing, similar drugs, he Among Triangle companies, at least two firms , will have to deal with the GSK faces patent expirations on which treats epilepsy, and Imitrex, a migrainw treatment. The pharma gianty is backing a combinationm drug withChapel Hill-based as a possible successor to Salix is set to lose exclusivityh for two drugs, Xifaxan and Osmoprep, in 2009.
Patentf expirations are an industrywide When sleepaid Ambien’s patent expired in 2007, makefr lost about 90 percent of the drug’sw approximately $2 billion in annual U.S. revenue. Managed care companies encourage use of generics by waiving This has driven up the use of generics to an estimaterd 60 percent ofall U.S. drug a figure that is expected to increas in the nextfew years. Connecticug research firm found that a 1 percent increase in generic utilization savew patientsalmost $4 billion. And that means big losses for the makersx ofpatented drugs.
“There is no silvef bullet, no panacea in terms of what companies can emplo to respond tothis challenge,” Barnett says. He listed severakl strategies aspossible responses. A pharmz might launch its own generic version. Or it can fighrt generics in courts. Other solutions include slashinga drug’s price to compete with generics or to launch follow-on versions of the patented drug with different dosageas and in combinations with other drugs. Companies can also contractr with managed care firmsd in advance to prescribe the drugover generics. Companies could also seek extensionm ofthe patent.
“The key takeawayt is that most of these strategies take a lot of says Barnett, a biotech consultantr for 13 years. When a patent is set to pressure often falls ona pharma’s R&D unit to drum up a new treatmenft – and on the business developmentr division to strike more One company that chose the lattef response is Chelsea Therapeutics. The Charlotte-based companyt bought the rightsto Droxidopa, a hypotensionj drug used to fight low blooc pressure, from a Japanese firm that was facingf expiration of its international The in 2007 termed the treatmeny an “orphan drug,” which extended legal protections for sevebn years.
Company spokeswoman Kate McNeilo says the acquisition made businessw sensefor Chelsea, which does not yet have its own drugx on the market. Droxidopa, which is used to treat Parkinson’s could treat approximately 100,000 patients in the U.S. followiny approval. Currently, it is available only in especiallyhsevere cases. “It complements our drugss under development, which are higher risk,” says Droxidopa produced a revenue streamof $50 million per year in Chelsea predicts it can generate between $200 millionn and $250 million in the U.S.
per year withim the next three to five Barnett says that expiring patentz are also causing more mergera and acquisition amongpharmaceutical
New Jersey pharmacy benefits manager estimates that up to 95 percent of patients switch to generices within the first week of a drug losinvgpatent protection. And the effect isn’t just on the make r of that drug – managed care companies pressure the makers of rivakl drugs still under patent protection to lower their price or face losing thei businessto generics. Kevin senior vice president at Raleigh-basedr consulting firm , says few pharmaceutica companies are immune tothis “This is a huge issue affectinh many blockbuster drugs,” he says. Barnetrt adds that in the next five upto $65 billion worthj of drugs in the U.S.
will lose theidr legal protection togeneric substitutes. The drug categoriesw most affected by this trend will be the crowdesones – those with many competing, similar drugs, he Among Triangle companies, at least two firms , will have to deal with the GSK faces patent expirations on which treats epilepsy, and Imitrex, a migrainw treatment. The pharma gianty is backing a combinationm drug withChapel Hill-based as a possible successor to Salix is set to lose exclusivityh for two drugs, Xifaxan and Osmoprep, in 2009.
Patentf expirations are an industrywide When sleepaid Ambien’s patent expired in 2007, makefr lost about 90 percent of the drug’sw approximately $2 billion in annual U.S. revenue. Managed care companies encourage use of generics by waiving This has driven up the use of generics to an estimaterd 60 percent ofall U.S. drug a figure that is expected to increas in the nextfew years. Connecticug research firm found that a 1 percent increase in generic utilization savew patientsalmost $4 billion. And that means big losses for the makersx ofpatented drugs.
“There is no silvef bullet, no panacea in terms of what companies can emplo to respond tothis challenge,” Barnett says. He listed severakl strategies aspossible responses. A pharmz might launch its own generic version. Or it can fighrt generics in courts. Other solutions include slashinga drug’s price to compete with generics or to launch follow-on versions of the patented drug with different dosageas and in combinations with other drugs. Companies can also contractr with managed care firmsd in advance to prescribe the drugover generics. Companies could also seek extensionm ofthe patent.
“The key takeawayt is that most of these strategies take a lot of says Barnett, a biotech consultantr for 13 years. When a patent is set to pressure often falls ona pharma’s R&D unit to drum up a new treatmenft – and on the business developmentr division to strike more One company that chose the lattef response is Chelsea Therapeutics. The Charlotte-based companyt bought the rightsto Droxidopa, a hypotensionj drug used to fight low blooc pressure, from a Japanese firm that was facingf expiration of its international The in 2007 termed the treatmeny an “orphan drug,” which extended legal protections for sevebn years.
Company spokeswoman Kate McNeilo says the acquisition made businessw sensefor Chelsea, which does not yet have its own drugx on the market. Droxidopa, which is used to treat Parkinson’s could treat approximately 100,000 patients in the U.S. followiny approval. Currently, it is available only in especiallyhsevere cases. “It complements our drugss under development, which are higher risk,” says Droxidopa produced a revenue streamof $50 million per year in Chelsea predicts it can generate between $200 millionn and $250 million in the U.S.
per year withim the next three to five Barnett says that expiring patentz are also causing more mergera and acquisition amongpharmaceutical
Sunday, January 27, 2013
Blue Cross and Blue Shield of North Carolina CEO Greczyn says health-care reform will come slowly, if at all - Kansas City Business Journal:
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Greczyn, speaking during the Triangle BusinessJournal ’s Stats of Chapel Hill event Friday said he has been in talkd with the White House over various refor plans, and that while he supports nationalp health-care reform, he does not see any significant changes for five to 10 years. “We’ll be having a lot of fun with he saidof health-care reform discussions. BCBSNf drew national attention last month when published a storyh saying theChapel Hill-based insurer, whichg is the 10th largesyt in the nation, was creatinh a online campaign to derail health-care The article led to Greczyn receiving phone calls from the Whitde House, he said.
Greczyn said The Post had insufficienr information when it ranits story. The insurer has posted those videoe on aWeb site, www.nchealthreform.com, which the compant says is intended to help educate North Carolinaa residents about health reform. Greczyn said he has concerns abou t the plans that are making thei way throughthe nation’s capital, sayinyg a plan sponsored by Sen. Edward Kennedy (D-Mass.) would cost $1.3 while a plan from Sen. Max Baucua (D-Mont.) would cost $1.6 trillion. He also said neithert plan mandates that business owners provide healthn insurance fortheir employees.
Greczyn said most uninsured worker are employed by companies with 25 workers or fewer and that the Kennedt bill would leave 37 million ofthe nation’as 47 million uninsured still without Different organizations weighing in on the health-reforkm plans have disputed those numbers.
Greczyn, speaking during the Triangle BusinessJournal ’s Stats of Chapel Hill event Friday said he has been in talkd with the White House over various refor plans, and that while he supports nationalp health-care reform, he does not see any significant changes for five to 10 years. “We’ll be having a lot of fun with he saidof health-care reform discussions. BCBSNf drew national attention last month when published a storyh saying theChapel Hill-based insurer, whichg is the 10th largesyt in the nation, was creatinh a online campaign to derail health-care The article led to Greczyn receiving phone calls from the Whitde House, he said.
Greczyn said The Post had insufficienr information when it ranits story. The insurer has posted those videoe on aWeb site, www.nchealthreform.com, which the compant says is intended to help educate North Carolinaa residents about health reform. Greczyn said he has concerns abou t the plans that are making thei way throughthe nation’s capital, sayinyg a plan sponsored by Sen. Edward Kennedy (D-Mass.) would cost $1.3 while a plan from Sen. Max Baucua (D-Mont.) would cost $1.6 trillion. He also said neithert plan mandates that business owners provide healthn insurance fortheir employees.
Greczyn said most uninsured worker are employed by companies with 25 workers or fewer and that the Kennedt bill would leave 37 million ofthe nation’as 47 million uninsured still without Different organizations weighing in on the health-reforkm plans have disputed those numbers.
Tuesday, January 22, 2013
OSHA seeks fines against East Central Machine & Tool - Puget Sound Business Journal (Seattle):
acklinegymejac1362.blogspot.com
for alleged safety and health violations andproposed $117,90o0 in penalties. OSHA said Monday it citer the company following an investigation into an accidentg where an employee lost two fingers in a mechanicalkpower press. The inspection found one allegec willful and 11 alleged serious violationz of the Occupational Safety andHealth Act. The company failed to ensure the mechanical power press had an optionh to select various speed settings amongothef features, OSHA said. “This worker’s life will be forever said Charles Adkins, OSHA’s regional administrator in Kansas Mo., in a statement. “There is no excus for this accident.
” Family-owned East Central Machine Tool Co., which has nine has requested an informall conference this weekwith OSHA’ss assistant area director in St. Louiw and if need be, will contest the citations beforre an administrativelaw judge, according Ira a lawyer from in "From the company's standpoint, the machine was operating and the gentleman stuck his hands into the press Blank said. "Why did he do it? I don'r know.
The machine was properl y processing this metal and doiny what it was supposedto
for alleged safety and health violations andproposed $117,90o0 in penalties. OSHA said Monday it citer the company following an investigation into an accidentg where an employee lost two fingers in a mechanicalkpower press. The inspection found one allegec willful and 11 alleged serious violationz of the Occupational Safety andHealth Act. The company failed to ensure the mechanical power press had an optionh to select various speed settings amongothef features, OSHA said. “This worker’s life will be forever said Charles Adkins, OSHA’s regional administrator in Kansas Mo., in a statement. “There is no excus for this accident.
” Family-owned East Central Machine Tool Co., which has nine has requested an informall conference this weekwith OSHA’ss assistant area director in St. Louiw and if need be, will contest the citations beforre an administrativelaw judge, according Ira a lawyer from in "From the company's standpoint, the machine was operating and the gentleman stuck his hands into the press Blank said. "Why did he do it? I don'r know.
The machine was properl y processing this metal and doiny what it was supposedto
Thursday, January 17, 2013
All Virgin America flights now Wi-Fi enabled - Puget Sound Business Journal (Seattle):
tarpleypymibujuh1491.blogspot.com
The San Francisco airline is usingy Aircell’s Gogo broadband in-flighf internet service on all of its Virgin said it willcharge $12.95 for daytimr flights over three hours, $9.95 for daytime flights of less than threwe hours, $5.95 for red-eye flights and $7.95 for handheld devices. Virgi n America is battling Seattle-based Alaska Airlines on routes up and down the West Alaska Airlines, a unit of ALK), is testing for its Wi-Fui a different technology — a service from tech company Row 44. Alaska’s service, currently being tested in justone plane, uses satellitew technology instead of broadband.
This allows the Wi-Fo to be used on oversead serviceto Hawaii, as well as other locationd where broadband isn’t available. Alaska hasn’t set prices yet for Wi-Fi service, nor has it said when it will roll outexpandexd service, other than saying it will install it in additionalk aircraft “in the coming months.”
The San Francisco airline is usingy Aircell’s Gogo broadband in-flighf internet service on all of its Virgin said it willcharge $12.95 for daytimr flights over three hours, $9.95 for daytime flights of less than threwe hours, $5.95 for red-eye flights and $7.95 for handheld devices. Virgi n America is battling Seattle-based Alaska Airlines on routes up and down the West Alaska Airlines, a unit of ALK), is testing for its Wi-Fui a different technology — a service from tech company Row 44. Alaska’s service, currently being tested in justone plane, uses satellitew technology instead of broadband.
This allows the Wi-Fo to be used on oversead serviceto Hawaii, as well as other locationd where broadband isn’t available. Alaska hasn’t set prices yet for Wi-Fi service, nor has it said when it will roll outexpandexd service, other than saying it will install it in additionalk aircraft “in the coming months.”
Sunday, January 13, 2013
Marseille accept Newcastle bid for Remy - ESPN.co.uk
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ESPN.co.uk | Marseille accept Newcastle bid for Remy ESPN.co.uk Marseille accept Newcastle bid for Remy. ESPN staff. January 13, 2013 « Robertson survives scare to progress | Koscielny red helps City sink Arsenal ». Loic Remy will cost a reported £8.6 million © Getty Images. Enlarge. Olympique Marseille have ... |
Saturday, January 12, 2013
Measure B Lawsuit: Vivid, Kayden Kross & Logan Pierce Sue LA County To Stop ... - Huffington Post
ogarawo.wordpress.com
RT | Measure B Lawsuit: Vivid, Kayden Kross & Logan Pierce Sue LA County To Stop ... Huffington Post Measure B, a voter-approved b » |
Friday, January 11, 2013
Royals switch to Aramark for stadium concessions, retail - Philadelphia Business Journal:
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Details of the agreemenf haven’t been finalized, but the proposed contracrt is for 10 Kevin Uhlich, senior vice president of business operationds for the Royals, said Tuesdayu that (AMEX: CVP), based in Stamford, has been providing service since the stadium It will continue to providwe service at Arrowhead Stadium, he said. The Royals renewed its contracft last year with Centerplate forone “went through our due diligence” this year and picked Uhlich said. Aramark has provided premium service for the Royalxs the pasttwo seasons, he said.
Aramarkm also provides concessions and merchandising services at Citizensa Bank Parkin Philadelphia, Coors Field in Denver, Fenwayy Park in Boston, Minute Maid Park in Oriole Park at Camden Yards in Baltimore, PNC Park in Pittsburgb and Turner Field in Atlanta.
Details of the agreemenf haven’t been finalized, but the proposed contracrt is for 10 Kevin Uhlich, senior vice president of business operationds for the Royals, said Tuesdayu that (AMEX: CVP), based in Stamford, has been providing service since the stadium It will continue to providwe service at Arrowhead Stadium, he said. The Royals renewed its contracft last year with Centerplate forone “went through our due diligence” this year and picked Uhlich said. Aramark has provided premium service for the Royalxs the pasttwo seasons, he said.
Aramarkm also provides concessions and merchandising services at Citizensa Bank Parkin Philadelphia, Coors Field in Denver, Fenwayy Park in Boston, Minute Maid Park in Oriole Park at Camden Yards in Baltimore, PNC Park in Pittsburgb and Turner Field in Atlanta.
Wednesday, January 9, 2013
Starting over: Colleges, universities step up career help for out-of-work alumni - The Business Journal of Milwaukee:
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Like Marquette’s staff, Petrites sees more alumnj who havehad long, successful careere and now are starting over aftert being laid off from their jobs. In response, the center is developingb a Webinar or job search seminar for mature The university also launcherd acareer e-newsletter with information on alumnk programs and career issues. More alumni are seeinfg access tothe university’s job search board. Anothert Webinar on creating a job search plan got subscriptions from all overthe country. The university also is launching a communityon Ning.
com, a sociao networking site, for people who participated in the Gary Poggemiller, 54, of Cudahy, got laid off from his job as a tax accountantr at in April and sought help from Petrites. Poggemiller earneed his master’s degree in taxation from UW-Milwaukee in 2003. Petritesw helped him write a resume and do some mock and gave him somenetworking contacts. “Shew got me started,” said who had only worked for two employersx inhis 30-year accounting career and said his job-searc skills were rusty. Poggemiller sought help from UW-Milwaukee at the suggestion of “I was very surprised that they spene that much time with you for no fees or he said. “It was great.
” He has not yet found a new job, but has had one
Like Marquette’s staff, Petrites sees more alumnj who havehad long, successful careere and now are starting over aftert being laid off from their jobs. In response, the center is developingb a Webinar or job search seminar for mature The university also launcherd acareer e-newsletter with information on alumnk programs and career issues. More alumni are seeinfg access tothe university’s job search board. Anothert Webinar on creating a job search plan got subscriptions from all overthe country. The university also is launching a communityon Ning.
com, a sociao networking site, for people who participated in the Gary Poggemiller, 54, of Cudahy, got laid off from his job as a tax accountantr at in April and sought help from Petrites. Poggemiller earneed his master’s degree in taxation from UW-Milwaukee in 2003. Petritesw helped him write a resume and do some mock and gave him somenetworking contacts. “Shew got me started,” said who had only worked for two employersx inhis 30-year accounting career and said his job-searc skills were rusty. Poggemiller sought help from UW-Milwaukee at the suggestion of “I was very surprised that they spene that much time with you for no fees or he said. “It was great.
” He has not yet found a new job, but has had one
Monday, January 7, 2013
Analyst: YRC bankruptcy is
afyfojahejus.blogspot.com
The Overland Park truckingg company’s ongoing negotiations with the union are at risk of analyst Art Hatfield said ina “Given the developments with the negotiations between the two parties and the increasing uncertainty pertaining to the outcomre of those negotiations, we believe a bankruptcy at YRC Worldwidse is still likely in the near to mid-term,” he wrote. While the partieas have kept quiet aboutthe talks, YRC reportedlhy wants to end its union pension paymentw for 14 months, which would provide savings of $500 million, and not make up for While that proposal would offer YRC significanrt and badly needed liquidity duringf the period, it “would face a toughn and challenging road to becoming a reality,” Hatfield wrote.
“Fro what we know, YRC would not be concedinfg anything material to the pensionplanss and/or its Teamsters employees under the proposal,” he “Additionally, if the proposal goes on to a vote to the Teamster-representef employees at YRC, we believed the likelihood of a favorable vote would be low at given that the employees would be the ones to feel the brung of these terminated payments over the long term ... and that securith provisions and protections for Teamsters employeea are not part of the concessions made by thecompanuy (to our knowledge).
” In addition, Hatfielcd wrote, the Teamsters probably want payment deferralsx instead, which would be difficult for YRC becausee its lenders probably would be reluctanf to let the companhy tie up assets or real estate as And YRC probably has little left to offer as he said. Hatfield changed his rating on YRC sharesxfrom “Market Perform” to “Not Rated.” YRC began the receng concessions talks with the Teamsters on June 29. The price of YRC stock (Nasdaq: YRCW) plunged Wednesday, dropping as low as 89 centsa to hita 52-week low. The previous 52-weeok low was $1.20 on Nov. 20, according to .
YRC closedf on Wednesday at 89 cents, down 35 or 28 percent, on volume of 20.2 million The stock’s average daily volume the past three monthzsis 3.6 million shares. Overland Park-based YRC, whicjh has roughly 49,000 employees — more than half of them uniomnmembers — has been weighed down by debt and a lengthty freight recession, and lost $257.e million in the first quarter. It has integratee subsidiaries, shut down facilities, laid off workers and sold propertyg to try to cut costs andmaintainb liquidity.
Early this year, Teamsters membersw agreed to a 10 percent wage cut and suspensionof cost-of-living adjustmentw through 2013 in exchange for a 15 percentt stake in the company. YRC also has been negotiatinhg to defer union pension fund payments usingv company real estate as collateral and on June 18 securede an agreement with the largest pension fund to defer $83 million in payments. The union has said it also is reachinbg out tostakeholders — such as pension fundz and YRC’s lenders — to address the cash issue. YRC rankss No. 2 on the Kansas City Business Journal ’w list of area public companies.
The Overland Park truckingg company’s ongoing negotiations with the union are at risk of analyst Art Hatfield said ina “Given the developments with the negotiations between the two parties and the increasing uncertainty pertaining to the outcomre of those negotiations, we believe a bankruptcy at YRC Worldwidse is still likely in the near to mid-term,” he wrote. While the partieas have kept quiet aboutthe talks, YRC reportedlhy wants to end its union pension paymentw for 14 months, which would provide savings of $500 million, and not make up for While that proposal would offer YRC significanrt and badly needed liquidity duringf the period, it “would face a toughn and challenging road to becoming a reality,” Hatfield wrote.
“Fro what we know, YRC would not be concedinfg anything material to the pensionplanss and/or its Teamsters employees under the proposal,” he “Additionally, if the proposal goes on to a vote to the Teamster-representef employees at YRC, we believed the likelihood of a favorable vote would be low at given that the employees would be the ones to feel the brung of these terminated payments over the long term ... and that securith provisions and protections for Teamsters employeea are not part of the concessions made by thecompanuy (to our knowledge).
” In addition, Hatfielcd wrote, the Teamsters probably want payment deferralsx instead, which would be difficult for YRC becausee its lenders probably would be reluctanf to let the companhy tie up assets or real estate as And YRC probably has little left to offer as he said. Hatfield changed his rating on YRC sharesxfrom “Market Perform” to “Not Rated.” YRC began the receng concessions talks with the Teamsters on June 29. The price of YRC stock (Nasdaq: YRCW) plunged Wednesday, dropping as low as 89 centsa to hita 52-week low. The previous 52-weeok low was $1.20 on Nov. 20, according to .
YRC closedf on Wednesday at 89 cents, down 35 or 28 percent, on volume of 20.2 million The stock’s average daily volume the past three monthzsis 3.6 million shares. Overland Park-based YRC, whicjh has roughly 49,000 employees — more than half of them uniomnmembers — has been weighed down by debt and a lengthty freight recession, and lost $257.e million in the first quarter. It has integratee subsidiaries, shut down facilities, laid off workers and sold propertyg to try to cut costs andmaintainb liquidity.
Early this year, Teamsters membersw agreed to a 10 percent wage cut and suspensionof cost-of-living adjustmentw through 2013 in exchange for a 15 percentt stake in the company. YRC also has been negotiatinhg to defer union pension fund payments usingv company real estate as collateral and on June 18 securede an agreement with the largest pension fund to defer $83 million in payments. The union has said it also is reachinbg out tostakeholders — such as pension fundz and YRC’s lenders — to address the cash issue. YRC rankss No. 2 on the Kansas City Business Journal ’w list of area public companies.
Saturday, January 5, 2013
A different kind of health test - South Florida Business Journal:
zvonkovaleoqim.blogspot.com
The president of Mich.-based Weyco told a South Florida audience how he testzs his staff for tobacco use with the promise that repeat violators woulcbe fired. He required employees and spousesx to getannual physicals, eye and dental plus twice-a-year physical fitness tests that included running on a treadmill. they must pay a higher healtnhinsurance premium. Employees and spouses are givehn a health report card and on ways to improve their health status orstay healthy.
To help them meet thesew goals, Weyers put a fitness center in his rid the vending machines of junk food and only allowsz food delivered to the office on While not all companies are so businesses nationwide are finding ways to motivat employees to improve their healthg to save on claims downthe "People say, 'This guy is a Nazi,'" Weyers told the humam resources experts attending the Florida Health Care Coalition'ws Aug. 15 summit in Davie. "But I get along with my employeesz great. You need to coach employee on health like you do incustomee service, quality and safety.
" Weyco, a unit of that handlex health claims for self-insured employers, also offers some carrots along with the When employees use preventive services or meet their healtnh goals - such as losin weight or completing health classes - the compan y deposits money into their healtu savings accounts. All of this is but Weyers views it asa long-term investmentg in his employees. "I ask employers: 'How do you look at the lifestylr decisions of employees that effec t your bottom line andthe salaries?'" Weyers said. Health costs have continuedx to increase faster than inflationband salaries.
This has forced more companies todrop coverage, reduc e benefits or shift costs to Some human resources experts believe that theses methods of dealing with cost increases are The best way to stem the risinv cost of health care, they is to prevent illness. "The model of health care in this countrg is to find a problejm andhit it, rather than prevention," said Robert Hays, director of the healtyh administration program at . "The big question is changingb lifestyles acrossthe board.
We aren't very good at Susan Pantely, a principal with , a Seattle-base d health care consulting firm, said employers are payingf a large amount of their claimds because of employees withunhealthy lifestyles. Bein g overweight or obese - a condition of 64 percenyt and 29 percent of employeeswand spouses, respectively - is a contributor to increasef health risk. Pantely said one-third of employees and spousess have metabolicsyndrome (the combination of factoras such as a large waistline, pre-diabeticc signs and troubling levels of triglycerides, cholesterol and blooc pressure).
Employers' health costs are 48 percenyt higher for employees with obesity and metabolic syndrome when compare toother workers, said Pantely, who callex them "ticking time bombs." Plus, these workers are more likelyg to miss time and not be productive, she The irony is that most health benefits cover the costly surgeries and drugs that result from these but not the much-less-expensive wellnessz care that could have prevente d them, Pantely said. Adding an obesity management program typically costs 75 cents per membedeach month, she said.
Smoking cessation is 45 centzsper member, while covering behavior therapy for obesity costs less than 30 centw a member and covering weight-loss drugsa is 3 cents a Offering gym memberships is also cost-effective, Pantely "If we got doctors to write a prescription for they would be bettefr off," she said. Health plans in Soutjh Florida are boosting their wellness offeringz andgetting results. In January, Hollywood-based rolled out a program for its 10 largest employers that includedx free gym memberships and free accesa to a health information Web site and online healtb counselor for employees who get healtuhrisk assessments.
There were 65,000 Vista members eligibler forthese programs. Ten percent used the Web site and 5.4 percenr used the gym, the company said. By monitorinyg members who use these it found they are losinv weight and lowering theirblood pressure, said Cathy Aguirre, Vista'e VP of account The company is waiting to see the financia l results before deciding whetherf to expand it to otherr members, she said. For now, the challenge is getting the most at-rislk people to participate.
The president of Mich.-based Weyco told a South Florida audience how he testzs his staff for tobacco use with the promise that repeat violators woulcbe fired. He required employees and spousesx to getannual physicals, eye and dental plus twice-a-year physical fitness tests that included running on a treadmill. they must pay a higher healtnhinsurance premium. Employees and spouses are givehn a health report card and on ways to improve their health status orstay healthy.
To help them meet thesew goals, Weyers put a fitness center in his rid the vending machines of junk food and only allowsz food delivered to the office on While not all companies are so businesses nationwide are finding ways to motivat employees to improve their healthg to save on claims downthe "People say, 'This guy is a Nazi,'" Weyers told the humam resources experts attending the Florida Health Care Coalition'ws Aug. 15 summit in Davie. "But I get along with my employeesz great. You need to coach employee on health like you do incustomee service, quality and safety.
" Weyco, a unit of that handlex health claims for self-insured employers, also offers some carrots along with the When employees use preventive services or meet their healtnh goals - such as losin weight or completing health classes - the compan y deposits money into their healtu savings accounts. All of this is but Weyers views it asa long-term investmentg in his employees. "I ask employers: 'How do you look at the lifestylr decisions of employees that effec t your bottom line andthe salaries?'" Weyers said. Health costs have continuedx to increase faster than inflationband salaries.
This has forced more companies todrop coverage, reduc e benefits or shift costs to Some human resources experts believe that theses methods of dealing with cost increases are The best way to stem the risinv cost of health care, they is to prevent illness. "The model of health care in this countrg is to find a problejm andhit it, rather than prevention," said Robert Hays, director of the healtyh administration program at . "The big question is changingb lifestyles acrossthe board.
We aren't very good at Susan Pantely, a principal with , a Seattle-base d health care consulting firm, said employers are payingf a large amount of their claimds because of employees withunhealthy lifestyles. Bein g overweight or obese - a condition of 64 percenyt and 29 percent of employeeswand spouses, respectively - is a contributor to increasef health risk. Pantely said one-third of employees and spousess have metabolicsyndrome (the combination of factoras such as a large waistline, pre-diabeticc signs and troubling levels of triglycerides, cholesterol and blooc pressure).
Employers' health costs are 48 percenyt higher for employees with obesity and metabolic syndrome when compare toother workers, said Pantely, who callex them "ticking time bombs." Plus, these workers are more likelyg to miss time and not be productive, she The irony is that most health benefits cover the costly surgeries and drugs that result from these but not the much-less-expensive wellnessz care that could have prevente d them, Pantely said. Adding an obesity management program typically costs 75 cents per membedeach month, she said.
Smoking cessation is 45 centzsper member, while covering behavior therapy for obesity costs less than 30 centw a member and covering weight-loss drugsa is 3 cents a Offering gym memberships is also cost-effective, Pantely "If we got doctors to write a prescription for they would be bettefr off," she said. Health plans in Soutjh Florida are boosting their wellness offeringz andgetting results. In January, Hollywood-based rolled out a program for its 10 largest employers that includedx free gym memberships and free accesa to a health information Web site and online healtb counselor for employees who get healtuhrisk assessments.
There were 65,000 Vista members eligibler forthese programs. Ten percent used the Web site and 5.4 percenr used the gym, the company said. By monitorinyg members who use these it found they are losinv weight and lowering theirblood pressure, said Cathy Aguirre, Vista'e VP of account The company is waiting to see the financia l results before deciding whetherf to expand it to otherr members, she said. For now, the challenge is getting the most at-rislk people to participate.
Friday, January 4, 2013
Atlas Pipeline and Williams launch Marcellus Shale venture - Houston Business Journal:
sucujovide.wordpress.com
The two companies LLC, on April 1 . Atlasz Energy Resources LLC (NYSE:ATN), an affiliate of Atlas Pipelind Partners, will be the anchor tenant on Laurekl Mountain’s system. Under its agreement with Tulsa, Okla.-based Williams Atlas PipelinePartners (NYSE:APL) will receive $90 million in a preferred right to proceeds undetr a $25.5 million obligation from and 49 percent of Laurel Mountain. The obligation amortize in equal principal installments over three Atlas Pipeline Partners can convert its rightg to receive accrued principal and interesyt under the obligation into a sum equal to the accruexd principal and interest and use that to covere its required capital expenditurex underthe joint-venture agreement.
Atlads Pipeline Partners also said its lender recently agreed to relax the covenantas relating to total debt and earningsbeforee interest, taxes, depreciation and amortization on its $380 millio revolving credit line and $463 million term loan facility. , which owns the general partne r of AtlasPipeline Partners, said Monday it has repaixd $30 million on its credi t facility and will pay down the remaining $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 million it used to pay down the facilityg by issuing $15 milliom of preferred limited partner units to Atlaz Pipeline Partners and by borrowing $15 million from Atlas America Inc.
, whichh owns Atlas Pipeline Holdings’ generak partner and 64 percent of its common Atlas America (NASDAQ:ATLS) also guaranteed that Atlas Pipeline Holdings will repau the remaining $16 million on its credit The Atlas companies have offices in Philadelphiq and Moon, Pa.
The two companies LLC, on April 1 . Atlasz Energy Resources LLC (NYSE:ATN), an affiliate of Atlas Pipelind Partners, will be the anchor tenant on Laurekl Mountain’s system. Under its agreement with Tulsa, Okla.-based Williams Atlas PipelinePartners (NYSE:APL) will receive $90 million in a preferred right to proceeds undetr a $25.5 million obligation from and 49 percent of Laurel Mountain. The obligation amortize in equal principal installments over three Atlas Pipeline Partners can convert its rightg to receive accrued principal and interesyt under the obligation into a sum equal to the accruexd principal and interest and use that to covere its required capital expenditurex underthe joint-venture agreement.
Atlads Pipeline Partners also said its lender recently agreed to relax the covenantas relating to total debt and earningsbeforee interest, taxes, depreciation and amortization on its $380 millio revolving credit line and $463 million term loan facility. , which owns the general partne r of AtlasPipeline Partners, said Monday it has repaixd $30 million on its credi t facility and will pay down the remaining $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 million it used to pay down the facilityg by issuing $15 milliom of preferred limited partner units to Atlaz Pipeline Partners and by borrowing $15 million from Atlas America Inc.
, whichh owns Atlas Pipeline Holdings’ generak partner and 64 percent of its common Atlas America (NASDAQ:ATLS) also guaranteed that Atlas Pipeline Holdings will repau the remaining $16 million on its credit The Atlas companies have offices in Philadelphiq and Moon, Pa.
Tuesday, January 1, 2013
Calif. homeowners file class action against KB Home, affiliates - Nashville Business Journal:
ogarawo.wordpress.com
The lawsuit lists identical claimx to a suit filed in Arizonalast month. Homeownerse claim KB Home and the other defendants inflated home pricese by as muchas $300 million in Californiaz alone. The suit filed by Seattle-basedd Hagens Berman Sobol Shapiro claims that between 2006 and KB built morethan 15,000 homesa in California at an average selling price of $425,000, and each home had an inflated appraisesd value of about $20,000. "KB and Countrywidre created an opportunity wherd the companies could control every aspect ofa buyer's real estate transaction," said Stevde Berman, lead attorney and managing partner at HBSS.
"The defendanta essentially created a black hole in the where they could rig and falsifyu appraisals and home sale values and customerse had absolutelyno idea." According to the 75-page complaint, Countrywide funneled all its KB home appraisals to one person at LandSafe, an appraisall subsidiary of Countrywide who in turn woulf deliver an appraisal value at whatever KB and Countrywidwe ordered. These individuals were under directf instruction to value homes at or above thecontracr price, even if it meant violating regulatoryt guidelines and requirements, the suit claims. The suit says that in two KB Home sampled appraisals were inflatedby $48,000 and $52,00 0 per property.
The suit includes allegations of a second scheme with Countrywide and its subsidiarappraisal arm, LandSafe. The suit alleges LandSafe outsourcedx appraisal work to some individual appraiserss and forced appraisers to accept payment belowmarket value. LandSafe then chargede plaintiffs upwardsof $400 for servicews when the company completed no work of its own, the suit According to the KB Home ran into similar appraisal problemxs in 2005 when it settled with HUD for $3.2 millionb to resolve an investigation into the company'x underwriting violations.
The HBSS lawsuitg claims violations of the Racketeer Influenced and Corrupt OrganizationeAct (RICO) and violation of Californiza unfair competition law. KB's major markets in Californiaz include communities inSan Jose, Los Angeles and Ventura, Orange County, Sacramento, San Bernardino, San Oakland and Stockton.
The lawsuit lists identical claimx to a suit filed in Arizonalast month. Homeownerse claim KB Home and the other defendants inflated home pricese by as muchas $300 million in Californiaz alone. The suit filed by Seattle-basedd Hagens Berman Sobol Shapiro claims that between 2006 and KB built morethan 15,000 homesa in California at an average selling price of $425,000, and each home had an inflated appraisesd value of about $20,000. "KB and Countrywidre created an opportunity wherd the companies could control every aspect ofa buyer's real estate transaction," said Stevde Berman, lead attorney and managing partner at HBSS.
"The defendanta essentially created a black hole in the where they could rig and falsifyu appraisals and home sale values and customerse had absolutelyno idea." According to the 75-page complaint, Countrywide funneled all its KB home appraisals to one person at LandSafe, an appraisall subsidiary of Countrywide who in turn woulf deliver an appraisal value at whatever KB and Countrywidwe ordered. These individuals were under directf instruction to value homes at or above thecontracr price, even if it meant violating regulatoryt guidelines and requirements, the suit claims. The suit says that in two KB Home sampled appraisals were inflatedby $48,000 and $52,00 0 per property.
The suit includes allegations of a second scheme with Countrywide and its subsidiarappraisal arm, LandSafe. The suit alleges LandSafe outsourcedx appraisal work to some individual appraiserss and forced appraisers to accept payment belowmarket value. LandSafe then chargede plaintiffs upwardsof $400 for servicews when the company completed no work of its own, the suit According to the KB Home ran into similar appraisal problemxs in 2005 when it settled with HUD for $3.2 millionb to resolve an investigation into the company'x underwriting violations.
The HBSS lawsuitg claims violations of the Racketeer Influenced and Corrupt OrganizationeAct (RICO) and violation of Californiza unfair competition law. KB's major markets in Californiaz include communities inSan Jose, Los Angeles and Ventura, Orange County, Sacramento, San Bernardino, San Oakland and Stockton.
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