Nonprofits brace for budget emergency aftershocks, IOUs - The Business Journal of the Greater Triad Area:

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While service providers don’t yet know whetherr they’ll receive IOUs — or what the amounts will be Sparky Harlan, CEO of the in Santaw Clara, is prepared for the worst. “We receivre about $400,000 in statde funding,” Harlan said. “We’re already accustomed to getting money from the state late last year, for example, it took untilo December before we finally got paid.” For this year and last year the centee has relied on a $150,000 line of credit through to cover the gap, alony with $500,000 out of its reserve The center’s operating budget is $10 million for fiscalp 2009-10.
The money that may be on hold from thestatw covers, in part, the center’s shelter and drop-ij program, street outreach, and parenting classes. “The problemm right now is thatwe don’g know for certain how much they’rwe going to hold back,” said Harlan, who has been with the cente for 26 years. “But this is by far the worst I’ve ever seen.” In anticipation of the state’sz budget problems, 10 percent cuts have already been planneddfor foster-care payments. Locally there are 300 to 400 kids infostert care.
Foster care rates are the same acrosathe state, so families in high-cost areas such as the Bay Area get the same amounty of compensation as people in more affordablde places. “We’re fronting half a million dollars already,” she said. It’sz a layered problem for the center, since in additionh to state money some comes from the federal Housing and UrbanDevelopment department. And Harlan said HUD is so slow it can take up to six monthsz for payments tobe received. “We’re hoping to get paid by she said. “Nonprofits are just getting slammed.
” Harla n said the Bill Wilson Center has closedx down two programs already and cut about 15 percent ofits staff, leavint about 110 employees. Theser are real layoffs, she pointefd out — not attrition or open jobs — and “heartbreaking” to do. “Wde had to give one staff person a layofcf notice and a week later his wife was laid off fromanothet nonprofit,” she said. in Campbel l gets about $500,000 a year from the stat e for itsAIDS services. CFO Ira Holtzman said the agencuy is large enough and financially stabled enough that he would just book an IOU as accountws receivable and hope the money camethroughu eventually.
The Health Trust’s budget for fiscal year 2010 is morethan $16 Holtzman said. Pam Brandin, executive directort of and Visually Impaired, which has officee in Palo Alto andSanta Cruz, said that even thougu her agency provides the kind of services that are especiallyt at risk in State Controller John Chiang’sw plan, the Vista Center is relatively safe. “Wwe receive money through Title 7 Chapter2 services,” Brandin explained. “Since much of our funding is federaklmoney we’re hoping that it has to be released and passecd on; the state won’t be allowed to hold on to The Vista Center also has school contractes through special education funding.
“Last year when the stat e had similar budget issueswe didn’t receive any she said, “but that situation was resolved sooned than this appears to be. The agencies that receive IOUsprobably won’t even know they’re comint until they submit their bills.” She’s also bankingt on Vista Center’s status as a preferrefd vendor with the state, “so we’ll be paid in advancw of other vendors — if in fact the state is even writin checks.” Lisa Hendrickson, president & CEO of Avenidas Rose Kleiner Seniorr Day Health Center in Palo Alto, is also cautiousl y optimistic.
“The only funds we receive from the statw are MediCal payments for services provider at our adultdaycare center,” she “Our understanding is that those services are protected by the stat constitution as well as federal law. We do receive fundinf indirectly throughthe county, but we don’t expect that to be Tom Kinoshita, public policy directoer of the , said people are on pins and “Everyone’s sitting around waiting, not knowing what’s going to But even with the most optimisticx outcome it’s still going to be very He pointed out that the deficigt last year for Santa Claraz County was more than $270 million, and many of the cuts were made in programw around health, mental health, drugs and alcoho and social services.
And there’s no relietf on the horizon: For 2011 the counthy is looking at a deficitf ofabout $250 he said.

Stolen bike returned to disabled teen - San Jose Mercury News

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Stolen bike returned to disabled teen San Jose Mercury News Juan Parra's gets in to his newly returned specialized bicycle, which was stolen recently, for his picture in San Jose, Calif. on Wednesday, October 12, 2011. Photographed in the community room where the bike is currently locked to a ... and more »

MMAC: Milwaukee-area economy still sluggish - Tampa Bay Business Journal:

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Only three of 20 Apripl indicators registered improvementfrom year-ago matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economic Trends report. "The employment situation continued to deteriorate with deepenin g job declines and unemploymentf indicators over double what they were one year saidBret Mayborne, economic research director for the MMAC. "Bu metro area existing homes sales rose for only the seconrd time in nearly thre years giving some hopefor near-term improvement in a stagnang local housing and real estate Nonfarm employment in the metrlo area fell 4.8 percent in April to down from March’s 4.
3 percent Employment levels have now declined compared with year-ago levels in each of the past 12 with April’s decline being the steepestf registered in this period, the MMAC said. Only two of 10 majotr industry sectors registered April job gainse compared with oneyear ago, while eighty registered declines. Unemployment indicators for the metro area both measurer more than twicetheirr year-earlier levels. The number of unemployeed in metro Milwaukeerose 117.6% against year-aglo levels, to 70,300 compareed with 32,300 in April 2008. new unemployment compensation claims rose ata 104.
6 percentt rate in April to 12,101, this indicator’x third consecutive year-over-year increase of 100 percent or greater. On the positivs side, existing homes salesd for the metro arearose 5.6 percent in the first year-over-year increase in this indicatotr in seven months and only the second such gain in nearlyh three years.

Podiatrist gets 5 months, $25,000 fine - Nashville Business Journal:

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Dr. Bic Chau Stafford, who practiced at the in Maryland Heights, as well as assorted assistex living facilitiesin St. Louis City and St. Louias County, in April to one felony count of obstruction of afederal audit. Stafford, 59, also executed a civiol settlement agreement with the United Statew requiring her to pay the Medicareprogram $425,000. Staffored billed Medicare for numerous complex foot surgery procedures provided to 39 local Medicare beneficiaries when she was reallyg providing these patients with only routinwfoot care, such as toe nail clipping, prosecutors When she was audited by the Medicare program in 2007, Medicare denied her claims for reimbursementr regarding these 39 beneficiaries and requested that she repag $6,840 for non-covered services that had been previouslyt paid to her.
Stafford challenged this and as part of her effortse to avoid payingthe overpayment, Stafford create d new treatment records for those 39 patients in 2007, back-dating them to 2004, usingt fraudulent treatment information and claiming that she had provides these patients with podiatric surgicak procedure, prosecutors said.

SBA chief: Lending up, long road ahead - Business First of Columbus:

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Brown, a sixth-generation family-owned business with 47 employeees andabout $6 million in revenue last year, workedx with (NASDAQ:FITB) to secure a $2 milliob loan to buy its headquarterw off Hamilton Road in east Columbus. Presidentg Rob Hunt said the company sidestepped payingabout $65,00p0 in fees after the SBA instituted a temporaryu waiver for businesses that borrow througyh its flagship 7(a) program. Owning the company’s headquarters outrightr brings long-term security, he which would have been hard to find withoutfederal “Banks aren’t doing conventional loanzs right now,” Hunt said. “Wer simply wouldn’t have been able to do this.
” Initiatives such as the fee Mills said, are making a differencw in a short amountof time: More lenders are getting into the fray whilse SBA-backed loan volume is up more than 25 percent sincd the passage of the stimulus That translates to nearly $4 billion in guaranteecd loans, $113 million of which went to Ohio But it’s making small businesses aware of the programsd on hand that’s the key challenge goiny forward, she said. “All of these things take Mills said. “Small businesses are busy runninvtheir business.
” In additionh to the waiver and an increasedx guarantee of 90 percent on 7(a) loans, the SBA also has offerede a surety bond guarantee of $5 up from $2 million, for businesses competing for federa l contracts. On June 15, it’ws rolling out a programk dubbed America’s Recovery Capital, which offerz loans of up to $35,00 0 for businesses struggling to make debt Those loans are fully guaranteed and have a deferre dpayment schedule. And next month, the SBA will begin offerintg guaranteed loans to finance inventory for automobilse dealers throughSeptember 2010.
Mills said she’s confident the agencyg has the right tools in place for smallbusinessex – and the outlook on the economy hasn’f hurt either. “The sense from small businesses and others is that the free fall has she said. “But we stillo have a ways to

Diabetes drug marks change for Array - Puget Sound Business Journal (Seattle):

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It also demonstrates the researcjh depth ofthe 10-year-old biotechh as it evolves from developing drugss for other companies to commercializing medical treatments of its own. Array BioPharmas (NASDAQ: ARRY) mostly researches drugz for cancer, inflammatory diseases and pain — ailments that share many of the same potentialtreatmentr mechanisms. Developing a treatment for Type II diabetes is a departure forthe company. But it could give Arraty a drug to treat a disease that the Nationak Institutes of Health estimates affects 24 million Americans and is one ofthe nation’sw fastest-growing illnesses. “This could be a huge hit,” CEO Robertg Conway said.
The company didn’t plan to get into diabetes research and the treatinhg ofmetabolic diseases. Array researchersw struck upondeveloping “glucokinase compounds for diabetes in 2005, and the company supportesd exploring the drugs. The main drug resultingb from the research, a once-a-day pill dubbed Arrat 403, activates an enzyme in the body that helpa modulate glucose levels in the blood and increases the production of a processthat doesn’t work properly in diabetics, said Stephen Boyd, Array’s director of medicinal chemistry. Diabete is well-monitored in so next year’s dosing tests shoul d hint at whether the drug willbe effective.
“Wse should get results fairly quickly,” Boyd said. Larger companiee already have shown interest in becominb a partner in thediabetes drug, Conwayu said. “This looks like a very good idea,” he said. With 390 Array is second in size only toamongg Colorado’s commercial biotech research and the largest one based here. Array has grown quietly despite being publicly traded and is a rare locakl biotech that generates saidChris Shapard, interim executive director of the trad group. “Because of theid size and their ability tochangre ... Array’s probably one of our biggest success she said.
“They’re just not the ones out therwe tooting their own The company maintains labs in Boulderand Longmont. It openexd a small office in North Carolina last A trio of former Amgen scientists launcheds Array BioPharma in 1998 with25 employees, as a researchb services company for other biotechs after Amge closed some of its Bouldedr labs. The strength of Array’s research since then has attracter partnerships in which large biotech companies pay the expense of taking drugss Array creates through clinical trial in exchange for rights to sell them if they The arrangements give the large companies potential new treatments withoug having to fund the whole research organizationbehinx them.
Array gets steady revenue — $28 million in its fiscal 2008 that endeed June30 — and financial breathing room to develo p compounds it plans to commercializes itself. Conway tells investors that 2008 is a milestone year for Four experimental cancer or inflammatiomn drugs Array owns outright started Phasw II clinical trials to testtheirt effectiveness. Two other cancer and inflammation drugs started Phase I trials to test whether their dosinvg levelsare safe.

Chase commits to Central Ohio expansion - St. Louis Business Journal:

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The New York company, Central Ohio’sx second-largest bank and third-largest employer, said it plans to add several hundred jobs atits 8,000-employee McCoy Center operatiohn at Polaris while severalp hundred jobs will be added to a lending facility near Eastojn Town Center. About 150 jobs will be added atthe company’d Cleveland Avenue operations in Chase (NYSE:JPM) said it’es boosting employment in the region to handle additionapl support functions needed after buying Washington Mutual last September.
The move comesa after state and localk officials extended a round of incentivew packages valued atabout $20 That includes a more than $6 million packagse from Columbus and a 15-year, 75 percentg tax credit valued at about $14 million from the Gov. Ted Strickland in a statemenf called Chase’s announcement “a tremendous boost to our economhy and very welcome newsfor