New York Daily News | Memorializing the Badger children Ct Post The family of the three young girls -- Lily Badger, 9, and 7-year-old twins Grace and Sarah Badger -- are in the process of making funeral arrangements for the children, who died in what has been ruled an accidental fire. Their grandparents, Lomer and ... Madonna Badger's s creams for her children haunt firefighters at fatal Stamford ... Christmas Fire Kills Children, Grandparents in Stamford New York City executive Madonna Badger loses children and parents in fire |
Thursday, December 29, 2011
Memorializing the Badger children - Ct Post
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Tuesday, December 27, 2011
Lady Gaga Sued By Former Personal Assistant For $380000 - Huffington Post
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BET | Lady Gaga Sued By Former Personal Assistant For $380000 Huffington Post Lady Gaga's former personal assistant is claiming the popstar was a nightmare to work for and regularily made diva-like demands -- how shocking. The New York Post reports that Jennifer O'Neill worked for the 25-year-old popstar for 13 months and now ... Lady Gaga Sued by Personal Assistant Lady Gaga's Former Personal Assistant Is Suing Her For Unpaid Overtime Personal Assistant Sues Lady Gaga For 7168 Unpaid Overtime Hours |
Sunday, December 25, 2011
Md. colleges given $11M to combat nursing shortage - Washington Business Journal:
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The grants, being divvied among 17 Marylannursing schools, will be used to lure facultgy and students, and improve technologhy at the universities. Maryland’s nursing shortage is expected toreach 10,000o by 2016, according to the . The current vacancg rate of nurses at state hospitals is 8 The economic downturn has helpexd the industry because many retired nurses have come back to but once the recession ends the shortage will saidCarmela Coyle, CEO of the Maryland Hospitaol Association. The first round of grants will increase the numberd of nurses graduating by 300 students and add 20 facultu positions at nursing programs acrossthe state.
“Thse number of nurses graduating from Maryland schoolsw are simplynot enough,” said Ronaldx B. Peterson, president of and co-chair of the “Whol Will Care?” campaign at a press conferencw Monday. “We cannot take our eye off thenursinb demand.” The campaign’s goal is to add 1,5090 new nursing students. The program has raised $15.5 million to date through the state’s business community, includinvg funds from the Baltimore constructionform , , the region'es largest hospital system, and , the region's largest healthg insurer. Greater Baltimore Medical for example, gave $500,000.
The goal is to raise $20 million from the private sector by the end of the and then raise anaddition $40 million in local and federal funds. • • • • • ; and, .
The grants, being divvied among 17 Marylannursing schools, will be used to lure facultgy and students, and improve technologhy at the universities. Maryland’s nursing shortage is expected toreach 10,000o by 2016, according to the . The current vacancg rate of nurses at state hospitals is 8 The economic downturn has helpexd the industry because many retired nurses have come back to but once the recession ends the shortage will saidCarmela Coyle, CEO of the Maryland Hospitaol Association. The first round of grants will increase the numberd of nurses graduating by 300 students and add 20 facultu positions at nursing programs acrossthe state.
“Thse number of nurses graduating from Maryland schoolsw are simplynot enough,” said Ronaldx B. Peterson, president of and co-chair of the “Whol Will Care?” campaign at a press conferencw Monday. “We cannot take our eye off thenursinb demand.” The campaign’s goal is to add 1,5090 new nursing students. The program has raised $15.5 million to date through the state’s business community, includinvg funds from the Baltimore constructionform , , the region'es largest hospital system, and , the region's largest healthg insurer. Greater Baltimore Medical for example, gave $500,000.
The goal is to raise $20 million from the private sector by the end of the and then raise anaddition $40 million in local and federal funds. • • • • • ; and, .
Friday, December 23, 2011
Kaiser Permanente considering a new location - Atlanta Business Chronicle:
badillodacyroic1505.blogspot.com
Kaiser Permanente has about 200,000 square feet, or the equivalentg of roughlyeight floors, scatterexd throughout Piedmont Center It will be scouting buildings in Buckheadf and Central Perimeter for at least that much officr space and possibly more. Kaiser Permanente’s lease in Piedmont Cente r expires at the endof 2011. It wants to finalizd a new deal byearly 2009, according to commercial real estatde sources familiar with the process.
Aftefr two decades in Piedmont Kaisersays it’s time to consider a It also wants to test the waters becaus in the soft officr market, large tenants with strong credit are able to get big Kaiser would have good leverage in where four office towers are in variousd stages of construction: and Pope & ’s 3630 ’s Two Alliance Center, ’s Terminus 200 and ’xs Phipps Tower. Despite softening demand, aboug 1.
9 million square feet of office buildings are under with no new tenants signedto leases, accordint to Kaiser will also give Central Perimeter a hard where ’s 400 Perimetet Center Terrace and 66 Perimeter Center have the space to land the manages care organization. Kaiser could also renesw in Piedmont Center and expans to other office buildings withinthe ’s David Demarest and William Propst are representiny Kaiser Permanente.
Architectural and engineering firm Stevens recently renewed its leasrat downtown’s 100 Peachtree, betterf known as the Equitable The firm, whose roots reach deep into Atlanta’s history, will lease 26,700 squarer feet, or about a floor and a at Equitable, one of the city’s landmark office Stevens & Wilkinson Stang Newdow has been a fixture downtown sincer the early 20th century. The firm Stevens & Wilkinsoj was founded at 140 Peachtree Jan. 1, 1919. Yearsz later, it merged with Stang & Its lease at Equitable extendsthrough 2015. It has been housed in the building since 1969.
“We explored the possibilithy of movingto Midtown, but we have all this historyg downtown,” said Lee Morris, executive vice president and general counsel. “There was a strong feeling among the folks that spent their whole career withthis firm, that we should remaib downtown.” Stevens & Wilkinso n Stang & Newdow, which has almost 80 people on its will use the additionalk room for meeting space. San Diego-based Equastond LLC , which purchased the 33-story Equitable Buildin g in May 2007, is carrying out a seriews of improvements at the and dealt with damage the building sustained in the March tornado thatstruck downtown.
The buildingb is part of Atlanta’s rejuvenatedc Central Business District near Centennial Olympic Morris said downtown has benefited from Georgia StatreUniversity ’s expansion. Stevens Wilkinson Stang & Newdow has designed some of the district’x recent additions, including the Embassy Suitess hotel and Acquarium HiltonGarden Inn. It also workexd on the city’s historic downtown including TechwoodHomes — the firstf public housing project in the U.S. — and the Centrao Library at One MargaretMitchell Square.
“Ourr long history and commitment to downtown is very special to me and many otherss atthis firm,” Morris The team of Addison John O’Neill, Chris White, Allison Bittel and Travixs Jackson represented Stevens & Wilkinson Stang &
Kaiser Permanente has about 200,000 square feet, or the equivalentg of roughlyeight floors, scatterexd throughout Piedmont Center It will be scouting buildings in Buckheadf and Central Perimeter for at least that much officr space and possibly more. Kaiser Permanente’s lease in Piedmont Cente r expires at the endof 2011. It wants to finalizd a new deal byearly 2009, according to commercial real estatde sources familiar with the process.
Aftefr two decades in Piedmont Kaisersays it’s time to consider a It also wants to test the waters becaus in the soft officr market, large tenants with strong credit are able to get big Kaiser would have good leverage in where four office towers are in variousd stages of construction: and Pope & ’s 3630 ’s Two Alliance Center, ’s Terminus 200 and ’xs Phipps Tower. Despite softening demand, aboug 1.
9 million square feet of office buildings are under with no new tenants signedto leases, accordint to Kaiser will also give Central Perimeter a hard where ’s 400 Perimetet Center Terrace and 66 Perimeter Center have the space to land the manages care organization. Kaiser could also renesw in Piedmont Center and expans to other office buildings withinthe ’s David Demarest and William Propst are representiny Kaiser Permanente.
Architectural and engineering firm Stevens recently renewed its leasrat downtown’s 100 Peachtree, betterf known as the Equitable The firm, whose roots reach deep into Atlanta’s history, will lease 26,700 squarer feet, or about a floor and a at Equitable, one of the city’s landmark office Stevens & Wilkinson Stang Newdow has been a fixture downtown sincer the early 20th century. The firm Stevens & Wilkinsoj was founded at 140 Peachtree Jan. 1, 1919. Yearsz later, it merged with Stang & Its lease at Equitable extendsthrough 2015. It has been housed in the building since 1969.
“We explored the possibilithy of movingto Midtown, but we have all this historyg downtown,” said Lee Morris, executive vice president and general counsel. “There was a strong feeling among the folks that spent their whole career withthis firm, that we should remaib downtown.” Stevens & Wilkinso n Stang & Newdow, which has almost 80 people on its will use the additionalk room for meeting space. San Diego-based Equastond LLC , which purchased the 33-story Equitable Buildin g in May 2007, is carrying out a seriews of improvements at the and dealt with damage the building sustained in the March tornado thatstruck downtown.
The buildingb is part of Atlanta’s rejuvenatedc Central Business District near Centennial Olympic Morris said downtown has benefited from Georgia StatreUniversity ’s expansion. Stevens Wilkinson Stang & Newdow has designed some of the district’x recent additions, including the Embassy Suitess hotel and Acquarium HiltonGarden Inn. It also workexd on the city’s historic downtown including TechwoodHomes — the firstf public housing project in the U.S. — and the Centrao Library at One MargaretMitchell Square.
“Ourr long history and commitment to downtown is very special to me and many otherss atthis firm,” Morris The team of Addison John O’Neill, Chris White, Allison Bittel and Travixs Jackson represented Stevens & Wilkinson Stang &
Wednesday, December 21, 2011
PERB chair Rystrom dies - Pittsburgh Business Times:
kdrummondbs37.blogspot.com
Rystrom was appointed by Gov. Arnold Schwarzenegger to the five-membe r PERB board in August 2007. She became chair in Februaruy 2009. The board enforces collective bargaining laws that cove more than 2 millionCalifornia public-sector It also rules on challenges to decisions issued by PERB’a general counsel and administrative law “Tiffany Rystrom capped a distinguishe d career by channeling her passioh for the law into public Schwarzenegger said in a statement following her “She raised the bar on quality, integrity and consistency with the Rystrom entered the legal fielxd after six years in advertising and She started in 1977 as judicial clerk in the Californiaa Court of Appeal.
She went on to become deputy districrt attorney in Marin County befored moving to the Office of the Californiqa Attorney General and intoprivatew practice. She is survived by her long-time California Labor CommissionerAngela
Rystrom was appointed by Gov. Arnold Schwarzenegger to the five-membe r PERB board in August 2007. She became chair in Februaruy 2009. The board enforces collective bargaining laws that cove more than 2 millionCalifornia public-sector It also rules on challenges to decisions issued by PERB’a general counsel and administrative law “Tiffany Rystrom capped a distinguishe d career by channeling her passioh for the law into public Schwarzenegger said in a statement following her “She raised the bar on quality, integrity and consistency with the Rystrom entered the legal fielxd after six years in advertising and She started in 1977 as judicial clerk in the Californiaa Court of Appeal.
She went on to become deputy districrt attorney in Marin County befored moving to the Office of the Californiqa Attorney General and intoprivatew practice. She is survived by her long-time California Labor CommissionerAngela
Monday, December 19, 2011
Acuity Brands
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The Atlanta-based lighting products company had net incomeof $22 milliomn and earnings of 53 cent s a share, compared with net income of $41.1q million and earnings of $1 a share in the third quartee of 2008. Sales for the period fell 23 percentto $396.6 The results for the third quarter of 2009 also were impactee by higher raw materia l and component costs, which were nearl y $8 million higher than the prior year period. “Netg sales for the third quartet of 2009 continued to be impacted by the significanf decline inconstruction activity, particularlh in key markets such as commercial and office buildings,” said Vernob J.
Nagel, chairman, president, and CEO of Acuitt Brands, in an earnings “New construction continues to be impactex by lower economic activity and tight credit market s for realestate lending. We were able to partiallyy mitigate the impact oflower sales, includingt realizing benefits from our continuous improvemengt initiatives and on-going streamlining effortzs while continuing to invest in innovative and energy-efficient products.
” Acuituy Brands (NYSE: AYI) owns and operatesa Acuity Brands Lighting, whosew brands include Lithonia Lighting, Peerless, Mark Architectural Lighting, Hydrel, American Electricf Lighting, Gotham, Carandini, SpecLight, Antique Street Lamps, RELOC, Lighting Control and Design, ROAM and Synergy Lighting It also owns and Acuity Brandxs Technology Services Inc.
The Atlanta-based lighting products company had net incomeof $22 milliomn and earnings of 53 cent s a share, compared with net income of $41.1q million and earnings of $1 a share in the third quartee of 2008. Sales for the period fell 23 percentto $396.6 The results for the third quarter of 2009 also were impactee by higher raw materia l and component costs, which were nearl y $8 million higher than the prior year period. “Netg sales for the third quartet of 2009 continued to be impacted by the significanf decline inconstruction activity, particularlh in key markets such as commercial and office buildings,” said Vernob J.
Nagel, chairman, president, and CEO of Acuitt Brands, in an earnings “New construction continues to be impactex by lower economic activity and tight credit market s for realestate lending. We were able to partiallyy mitigate the impact oflower sales, includingt realizing benefits from our continuous improvemengt initiatives and on-going streamlining effortzs while continuing to invest in innovative and energy-efficient products.
” Acuituy Brands (NYSE: AYI) owns and operatesa Acuity Brands Lighting, whosew brands include Lithonia Lighting, Peerless, Mark Architectural Lighting, Hydrel, American Electricf Lighting, Gotham, Carandini, SpecLight, Antique Street Lamps, RELOC, Lighting Control and Design, ROAM and Synergy Lighting It also owns and Acuity Brandxs Technology Services Inc.
Friday, December 16, 2011
Why now is a great time to start up - bizjournals:
xszeyluje.blogspot.com
But for those who studuy entrepreneurship — and those who’ve startedx businesses during arecession — a downturn providesw great opportunities. It requires, however, commob sense and a great idea that has a chancsof scaling. “During a boom when there’s plenty of money available for everyone, good ideaas and projects can be competedinto mediocrity,” said Bob an associate professor at Santa Clara University’s Leavey Schoo of Business and a specialist in entrepreneurial finance.
But in a Hendershott said the positives in starting a business can outweiguthe negatives, in part because the opportunitu to move up in a position or find a new job is “Spend time getting stuff out there that a potentiak user can try,” he said. “Focus on whether you will have the resourcew to do what you set out to do and prove the It doesn’t make sense to try to sell Sun an idea if it takess $3 million unless you have access to those resources.” Tom Gallatim and his co-founders at started their Milpitas-based network monitoring company for far less than that in 2002.
The six partners — all technology industry veterans — chippec in about $10,000 each and joined what Gallatin calls “the working wives club,” because the men relied on theidr spouses’ salaries to survive. To meet theitr space needs, they worked out of the cornere of a contract manufacturing business that needed help paying itsutility bills. The venture capital communitgy wanted nothing to dowith “We tried about 35 VCs up and down Sand Hill and we were rejected by all of them because of the choice of marketsz we were going after,” said who started his career at Hewlett-Packard Co. in the 1970s and went on to do stintxs atIntel Corp.
and Tandem Computers. “We had a wonderful business plan, and everyonre said we were going to make a ton of but wejust didn’t fit the Gigamon shipped its first product in 2005. Now, Gigamon’s data accesa systems are deployed atthe country’s largest telecom companies, including AT&T Inc. and Sprint Nextel Corp.; cable companies such as Comcast Corp. and Cox Communicationsx Inc.; and hundreds of manufacturing, industrial, medical, utility and government networks in more than 40 The businessis profitable, cash-positive and needse new office space. It plans to expand its current head coungt of32 employees.
“We stayed we didn’t try to do anything fancy, and we leveragedx our Rolodex resources,” Gallatibn said. “In a down economy, peopl e are out there with time ontheidr hands, and we found highlu skilled people at the end of the layofvf cycle who were ready to come in and take a chance because they knew us.” In San President Jeff Kerr launched his business placing ATMs in hotelsd and airports in 1996, but decided to spin it into a franchisew business in 2002. Even after the dot-com bust and the terrorist attackasof Sept. 11, the business wasn’t hit hard becausee Kerr ran it lean.
Rentsz decreased as a result of the and that helped Kerr find Class A office space in downtowmSan Jose. Low interest rates allowed him to buy andfinance equipment, while the unemployment rate enabled him to hire a talentedd marketing department. ACFN has since sold 128 ATM franchiseas inthe U.S. and Canada, and it became one of the fastest-growing companiees in the country, listed in Inc. Magazine. “The biggesf advice I give people is tostay lean,” he “Be financially responsible and watch your use controlled growth and make sure what you do makeas sense in the long term.
” Ann managing director of Hummer Winblad Venture Partners, startedx her first company in when “we had 11 percent unemployment, people were waitiny in line to get gas, the presiden had resigned and the Vikingsa lost the Super Bowl,” she She launched , an accounting software company, for $500, and she sold it six yeares later for more than $15 million. Winblafd co-founded the venture firm that bears her namein 1989. She said a downturnm gives entrepreneurs acompetitive advantage, especially if they can find investorzs or get funding because “thr pond is cleaner. “In any time is the right time to starft agood company, independent of the Winblad said.
“It does take time to builrd and march intothe marketplace, but you have to have a valude proposition.”
But for those who studuy entrepreneurship — and those who’ve startedx businesses during arecession — a downturn providesw great opportunities. It requires, however, commob sense and a great idea that has a chancsof scaling. “During a boom when there’s plenty of money available for everyone, good ideaas and projects can be competedinto mediocrity,” said Bob an associate professor at Santa Clara University’s Leavey Schoo of Business and a specialist in entrepreneurial finance.
But in a Hendershott said the positives in starting a business can outweiguthe negatives, in part because the opportunitu to move up in a position or find a new job is “Spend time getting stuff out there that a potentiak user can try,” he said. “Focus on whether you will have the resourcew to do what you set out to do and prove the It doesn’t make sense to try to sell Sun an idea if it takess $3 million unless you have access to those resources.” Tom Gallatim and his co-founders at started their Milpitas-based network monitoring company for far less than that in 2002.
The six partners — all technology industry veterans — chippec in about $10,000 each and joined what Gallatin calls “the working wives club,” because the men relied on theidr spouses’ salaries to survive. To meet theitr space needs, they worked out of the cornere of a contract manufacturing business that needed help paying itsutility bills. The venture capital communitgy wanted nothing to dowith “We tried about 35 VCs up and down Sand Hill and we were rejected by all of them because of the choice of marketsz we were going after,” said who started his career at Hewlett-Packard Co. in the 1970s and went on to do stintxs atIntel Corp.
and Tandem Computers. “We had a wonderful business plan, and everyonre said we were going to make a ton of but wejust didn’t fit the Gigamon shipped its first product in 2005. Now, Gigamon’s data accesa systems are deployed atthe country’s largest telecom companies, including AT&T Inc. and Sprint Nextel Corp.; cable companies such as Comcast Corp. and Cox Communicationsx Inc.; and hundreds of manufacturing, industrial, medical, utility and government networks in more than 40 The businessis profitable, cash-positive and needse new office space. It plans to expand its current head coungt of32 employees.
“We stayed we didn’t try to do anything fancy, and we leveragedx our Rolodex resources,” Gallatibn said. “In a down economy, peopl e are out there with time ontheidr hands, and we found highlu skilled people at the end of the layofvf cycle who were ready to come in and take a chance because they knew us.” In San President Jeff Kerr launched his business placing ATMs in hotelsd and airports in 1996, but decided to spin it into a franchisew business in 2002. Even after the dot-com bust and the terrorist attackasof Sept. 11, the business wasn’t hit hard becausee Kerr ran it lean.
Rentsz decreased as a result of the and that helped Kerr find Class A office space in downtowmSan Jose. Low interest rates allowed him to buy andfinance equipment, while the unemployment rate enabled him to hire a talentedd marketing department. ACFN has since sold 128 ATM franchiseas inthe U.S. and Canada, and it became one of the fastest-growing companiees in the country, listed in Inc. Magazine. “The biggesf advice I give people is tostay lean,” he “Be financially responsible and watch your use controlled growth and make sure what you do makeas sense in the long term.
” Ann managing director of Hummer Winblad Venture Partners, startedx her first company in when “we had 11 percent unemployment, people were waitiny in line to get gas, the presiden had resigned and the Vikingsa lost the Super Bowl,” she She launched , an accounting software company, for $500, and she sold it six yeares later for more than $15 million. Winblafd co-founded the venture firm that bears her namein 1989. She said a downturnm gives entrepreneurs acompetitive advantage, especially if they can find investorzs or get funding because “thr pond is cleaner. “In any time is the right time to starft agood company, independent of the Winblad said.
“It does take time to builrd and march intothe marketplace, but you have to have a valude proposition.”
Wednesday, December 14, 2011
First Niagara names National City's Rendulic to western Pa. post - Pittsburgh Business Times:
humojo.wordpress.com
Lockport, N.Y., on Wednesday names Mark R. Rendulic senior vice president and regional sales manager for retaipl banking inwestern Pennsylvania. First Niagara (Nasdaq:FNFG) expects to entefr Pittsburgh as its fourth largest bank by deposits and fifth by branches when its acquisition of former National City Corp. branches from PNC Financial Service sGroup Inc. is completed in September. Rendulic had been executive vice president of consumer and smalk business financial services for National City Bankof Pennsylvania. He will have leadershio responsibility forFirst Niagara’s 57 branches stretching from Pittsburggh to Erie and a team of more than 500.
Area salesa managers, each managing approximately 10 branches, will report to CEO John Koelmel told the Pittsburgh Businesws Times in April that he expectedf to hire Rendulic but the title and responsibilities were not announcesuntil Wednesday. His is the second majort leadership announcement by First Niagara in less than a On Friday, the bank announcede Todd Moules would be president of its Westermn Pennsylvania region, effective with the acquisition’s close. Moules previously was statr president of Pennsylvania bankinfg forNational City. First Niagarw will enter Pittsburgh as the fourth largest bankby $3.35 billion, and fifth by branches, 50.
The othe 7 branches are based in two othet metro areas north of First Niagara announced June 3 that it signed a leasefor 50,00o square feet at the 11 Stanwix Buildingt in Downtown Pittsburgh to server as its regional headquarters. It aims to have loan productionb operating there by the end ofthe month. Aboutg 100 employees will eventually work atthe center. Fifty of the 57 western Pennsylvania branches it is acquiring are within the Pittsburgghmetro area. First Niagara was tradin g at $11.58 per share at 10:30 a.m. down 1.11 percent.
Lockport, N.Y., on Wednesday names Mark R. Rendulic senior vice president and regional sales manager for retaipl banking inwestern Pennsylvania. First Niagara (Nasdaq:FNFG) expects to entefr Pittsburgh as its fourth largest bank by deposits and fifth by branches when its acquisition of former National City Corp. branches from PNC Financial Service sGroup Inc. is completed in September. Rendulic had been executive vice president of consumer and smalk business financial services for National City Bankof Pennsylvania. He will have leadershio responsibility forFirst Niagara’s 57 branches stretching from Pittsburggh to Erie and a team of more than 500.
Area salesa managers, each managing approximately 10 branches, will report to CEO John Koelmel told the Pittsburgh Businesws Times in April that he expectedf to hire Rendulic but the title and responsibilities were not announcesuntil Wednesday. His is the second majort leadership announcement by First Niagara in less than a On Friday, the bank announcede Todd Moules would be president of its Westermn Pennsylvania region, effective with the acquisition’s close. Moules previously was statr president of Pennsylvania bankinfg forNational City. First Niagarw will enter Pittsburgh as the fourth largest bankby $3.35 billion, and fifth by branches, 50.
The othe 7 branches are based in two othet metro areas north of First Niagara announced June 3 that it signed a leasefor 50,00o square feet at the 11 Stanwix Buildingt in Downtown Pittsburgh to server as its regional headquarters. It aims to have loan productionb operating there by the end ofthe month. Aboutg 100 employees will eventually work atthe center. Fifty of the 57 western Pennsylvania branches it is acquiring are within the Pittsburgghmetro area. First Niagara was tradin g at $11.58 per share at 10:30 a.m. down 1.11 percent.
Monday, December 12, 2011
Local green job corps funded by stimulus - San Francisco Business Times:
uvepexatawus.blogspot.com
The programs will offer job training and communityg service opportunitiesfor 1,500 at-risk youth ages The aim is to help create a cleanet environment and spur economic growth in California. “Wde are working around the clock to bring Recovery Act funding into Californiaas quickly, effectivelyh and responsibly as possible to stimulatwe our economy,” said Governor “Using Recovery funds and public-private partnerships, the California Green Jobs Corpzs will help 1,500 at-risk young adults realiz a brighter future while stimulating our economy and workin toward a greener California.
”’ Gree n Job Corps participants will receive training in energy efficiency and green construction, green waste, agriculturalk and natural resources, solar power and alternativ fuels.
The programs will offer job training and communityg service opportunitiesfor 1,500 at-risk youth ages The aim is to help create a cleanet environment and spur economic growth in California. “Wde are working around the clock to bring Recovery Act funding into Californiaas quickly, effectivelyh and responsibly as possible to stimulatwe our economy,” said Governor “Using Recovery funds and public-private partnerships, the California Green Jobs Corpzs will help 1,500 at-risk young adults realiz a brighter future while stimulating our economy and workin toward a greener California.
”’ Gree n Job Corps participants will receive training in energy efficiency and green construction, green waste, agriculturalk and natural resources, solar power and alternativ fuels.
Saturday, December 10, 2011
NHL Network moves to popular Comcast channel lineup - Birmingham Business Journal:
belyaevostapuki.blogspot.com
The Philadelphia-based cable-television giant and the network, whichb is based in New York, didn’f reveal the agreement’s financial terms or specify its lengtgh beyond callingit long-term. Comcastr (NASDAQ:CMCSA,CMCSK) has carried the network on its Sportsa Entertainment Package the pasttwo years. That has abouty 2 million subscribers and usually costs anadditionalp $5 to $7 a About two-thirds of Comcast’s 17.
3 million digital customerws get Digital Classic, which is one step abovwe Comcast’s base level of digital Comcast will still carry the network on its Sports Entertainmenr Package for customers who get that but not Digital The NHL Network carries regular season NHL post-game press conferences from the NHL All Star Game and Stanle y Cup Finals, a daily highlights show durin g the season, and many other NHL-related features. The deal also gived Digital Classic customers access to NHL On Demand which includescondensed games, historic gamesa and player profiles.
Comcast last month resolved a disput e with the NFL Network that resulted in Comcast moving the NFL Networmk to the DigitalClassic lineup.
The Philadelphia-based cable-television giant and the network, whichb is based in New York, didn’f reveal the agreement’s financial terms or specify its lengtgh beyond callingit long-term. Comcastr (NASDAQ:CMCSA,CMCSK) has carried the network on its Sportsa Entertainment Package the pasttwo years. That has abouty 2 million subscribers and usually costs anadditionalp $5 to $7 a About two-thirds of Comcast’s 17.
3 million digital customerws get Digital Classic, which is one step abovwe Comcast’s base level of digital Comcast will still carry the network on its Sports Entertainmenr Package for customers who get that but not Digital The NHL Network carries regular season NHL post-game press conferences from the NHL All Star Game and Stanle y Cup Finals, a daily highlights show durin g the season, and many other NHL-related features. The deal also gived Digital Classic customers access to NHL On Demand which includescondensed games, historic gamesa and player profiles.
Comcast last month resolved a disput e with the NFL Network that resulted in Comcast moving the NFL Networmk to the DigitalClassic lineup.
Thursday, December 8, 2011
Albany Medical College receives $1M pledge from trustee - Boston Business Journal:
ra-iwinyro.blogspot.com
Bender is a longtime member of the boarde of trusteesof , of whicb the college is a This is his second $1 million dollae gift to the Albany, N.Y. institution in less than a The first, in established The Bender Endowed Chair in The endowment enables the standing chairperson to delegate funding forresearch initiatives, equipment purchasee and educational outreach to further strengthen the college’a Department of Neurology. The new gift will continuee support ofthe chair, as well as the Bendee Family Minority Scholarship. The scholarship was establishef in 1986 to provide financiapl assistance to minority students and encourage diversity at themedicak college.
During the 2008-09 academic eight students received assistance from the and sinceits establishment, 157 scholarships—totalinyg $525,000—have been distributed to 65 students. Bender is the great-grandsonh of the founder of MatthewBender & Co., one of the nation’sd largest legal publishing firms with over 1,500 The Bender family sold the compan to the in 1963. In 1969, Bendere became vice presidentof , a New York City-basef law book publisher. “Matt is an extraordinary man, who has done extraordinarhy things for Albany Medical Center and our saidJames Barba, president and CEO of Albany Med.
“Hisw financial generosity to our Medical Center can only be matcherd by his perseverance and which has been very influentialo in paving the path for succeses forAlbany Med. It comes as little surprise that Matt has chosen once again to strengthen our endowment and provide a tremendousw benefit toour physicians, staff, patients and students—thw very core of this
Bender is a longtime member of the boarde of trusteesof , of whicb the college is a This is his second $1 million dollae gift to the Albany, N.Y. institution in less than a The first, in established The Bender Endowed Chair in The endowment enables the standing chairperson to delegate funding forresearch initiatives, equipment purchasee and educational outreach to further strengthen the college’a Department of Neurology. The new gift will continuee support ofthe chair, as well as the Bendee Family Minority Scholarship. The scholarship was establishef in 1986 to provide financiapl assistance to minority students and encourage diversity at themedicak college.
During the 2008-09 academic eight students received assistance from the and sinceits establishment, 157 scholarships—totalinyg $525,000—have been distributed to 65 students. Bender is the great-grandsonh of the founder of MatthewBender & Co., one of the nation’sd largest legal publishing firms with over 1,500 The Bender family sold the compan to the in 1963. In 1969, Bendere became vice presidentof , a New York City-basef law book publisher. “Matt is an extraordinary man, who has done extraordinarhy things for Albany Medical Center and our saidJames Barba, president and CEO of Albany Med.
“Hisw financial generosity to our Medical Center can only be matcherd by his perseverance and which has been very influentialo in paving the path for succeses forAlbany Med. It comes as little surprise that Matt has chosen once again to strengthen our endowment and provide a tremendousw benefit toour physicians, staff, patients and students—thw very core of this
Monday, December 5, 2011
Sloan resigns from BofA board - Business Courier of Cincinnati:
belyaevostapuki.blogspot.com
Sloan offered his resignatiom to new board chairman Waltert Masseylast week, the bank said in a May 29 regulatoryg filing. BofA didn’t disclose Sloan’s reasojn for resigning. As the lead independent director, Sloanj has been under intense criticism in recent months as the bank sufferes through a sharp stock priced decline after acquiring MerrillLynch & Co. BofA also has receivefd $45 billion of taxpayer aid. , a Houston-based investmeny firm that holds 1.1 million BofA shares, was amonb several groups that waged a proxy againsrthe country’s largest bank holding company, including callingf for Sloan’s ouster.
Sloan was narrowly re-elected to the bank’a board at the annual meeting in April. shareholders voted to strip BofA Chief Executive Kenneth Lewis ofthe bank’s and Massey was elected to take over boared leadership. Lewis remains the bank’ s CEO and president. Sloan, 70, served as a BofA director for 13 Duringhis tenure, Sloan served as chairman of both the executive committee and the compensatiob and benefits committee. He also was a membere of the corporategovernancde committee.
“Temple has been a trusted adviser who has made an invaluabls contribution to the succesws ofour company,” Lewis said in a “We will miss his counsel and his BofA (NYSE: BAC) is baser in Charlotte, N.C.
Sloan offered his resignatiom to new board chairman Waltert Masseylast week, the bank said in a May 29 regulatoryg filing. BofA didn’t disclose Sloan’s reasojn for resigning. As the lead independent director, Sloanj has been under intense criticism in recent months as the bank sufferes through a sharp stock priced decline after acquiring MerrillLynch & Co. BofA also has receivefd $45 billion of taxpayer aid. , a Houston-based investmeny firm that holds 1.1 million BofA shares, was amonb several groups that waged a proxy againsrthe country’s largest bank holding company, including callingf for Sloan’s ouster.
Sloan was narrowly re-elected to the bank’a board at the annual meeting in April. shareholders voted to strip BofA Chief Executive Kenneth Lewis ofthe bank’s and Massey was elected to take over boared leadership. Lewis remains the bank’ s CEO and president. Sloan, 70, served as a BofA director for 13 Duringhis tenure, Sloan served as chairman of both the executive committee and the compensatiob and benefits committee. He also was a membere of the corporategovernancde committee.
“Temple has been a trusted adviser who has made an invaluabls contribution to the succesws ofour company,” Lewis said in a “We will miss his counsel and his BofA (NYSE: BAC) is baser in Charlotte, N.C.
Saturday, December 3, 2011
Thursday, December 1, 2011
N.J. will team with Target to deliver disaster supplies - NorthJersey.com
iwyqaxewun.wordpress.com
N.J. will team with Target to deliver disaster supplies NorthJersey.com State homeland security officials in charge of handling future catastrophic emergencies will now rely on the big-box corporation Target to fast-track certain goods and supplies to aid recovery. The new partnership, spelled out in a ... Homeland Security Office Partners With Target Corporation To Help Communities ... |
Tuesday, November 29, 2011
New Study Points to Novel Mechanism by Which Tumors Escape Recognition by the ... - Sacramento Bee
iwegasely.wordpress.com
New Study Points to Novel Mechanism by Which Tumors Escape Recognition by the ... Sacramento Bee 29, 2011 -- /PRNewswire/ -- A new study in The Journal of Clinical Investigation (JCI) has uncovered a novel mechanism that cancer cells may use to escape detection by the body's immune system. The study, "Tumor-infiltrating myeloid cells induce tumor ... |
Sunday, November 27, 2011
FedEx SmartPost leases part of big spec center in Olathe - Phoenix Business Journal:
yfimuna.wordpress.com
on Thursday signed a long-term lease for 126,000 square feet in the 602,000-square-foot spec building completed in late 2008 at22101 W. 167tjh St. in Olathe. Constructed in responsde to growing demand forlocal “big box” industrial space, the distributio n center was developed by of Wellseley, and a partnership led by Dan a principal with in Kansas City. In when the 40-acre site for the structures was acquired, Jensen said he would target largse tenants that would take atleast one-thirc of the building. “We’re breakintg it a little smaller than we thoughgtwe might,” Jensen said of the FedEd lease.
“But (landing) FedEx, we think, is a real endorsemen for that building andthat location.” FedEx an expanding division of FedEx Ground that delivera packages to U.S. postal facilities for final delivery, will use the space for sorting anddistributiomn operations, Jensen said. “We’ve been working on this deal sincw October, which is indicative of what’s going on in this Jensen said. “It’s just a slow grind. But we do have some otherr deals that are getting Space in the new distribution center is beingy marketedat $4.
25 a foot plus operatingv tax, insurance and maintenance However, tenants will be able to take advantaged of a 10-year, 50 percent propertyh tax abatement the city of Olathd granted. Banking on continuing demand in Olathe, Jensen’s partnershi p and Sun Life acquired 200 acrew at the southwest corner of 151sgt Street and Old 56 Highway late in 2008 for the eventualk development of anadditional 2.9 million squard feet of industrial space. “The industrial markett has pulled back a little bit since saidEd Elder, president of .
But who represented when a pre-recession wave of logistics activituy brought itto Olathe, remainzs bullish on Southern Johnson Countu and the broader Kansaxs City area as growing hubs in the nation’sw product-distribution network. In 2007, PacSun openeed a 400,000-square-foot warehouse on 74 acres along167th Street, immediately nort h of Jensen’s spec center. At the time, thosee marketing industrial properties in the area benefited from the plannedx development ofa 1,000-acre industrial park surroundint a truck-rail intermodal facility near 196thg Street and U.S.
Highway 56 in BNSF announced early this year that the economy had prompted it to postpone indefinitelyt construction on the rail portion of theproposedx $735 million intermodal park. But Elder said the area’s existinfg assets, including quick access to Interstate 35 andothetr highways, will be enoughg to attract additional tenants once the economyt improves. “It helped promote and validat ethat area,” Elder said of the BNSF project. “But PacSuj got done without it. Kimberly-Clark did theire deal (for a 450,000-square-foor building near Gardner) without it. And Colemabn obviously did not need to beon (an intermodal) The latter reference was to a 1.
1 million-square-foot distributioj center that Inc. is buildinvg in the , a 151-acre industrialp park at 175th Streetand U.S. Highway 56 in Ken Block, one of Kansaws City’s top developers, announced in March that he was enteringt SouthernJohnson County’s emerging big-boz industrial market at a site just east of the new Colemab facility. Block, a principal of , leadzs an investment partnership that boughrt 229 acres at the northwest corner of 175th Streetf and Hedge Lanein Olathe. On that site, Block & Co.
plans to develoo a $275 million project containing more than 3 million square feet of industria l buildings during the next 10 to 12 Brent Hansen, research services manager for Grubvb & Ellis/the Winbury Group, said no industrial vacancyy statistics are available for the Southerhn Johnson County market. But the industrialo vacancy rate for all of Johnson County in the first quarterdwas 6.3 percent, in line with the strong metrowide averag e of 6.1 percent.
on Thursday signed a long-term lease for 126,000 square feet in the 602,000-square-foot spec building completed in late 2008 at22101 W. 167tjh St. in Olathe. Constructed in responsde to growing demand forlocal “big box” industrial space, the distributio n center was developed by of Wellseley, and a partnership led by Dan a principal with in Kansas City. In when the 40-acre site for the structures was acquired, Jensen said he would target largse tenants that would take atleast one-thirc of the building. “We’re breakintg it a little smaller than we thoughgtwe might,” Jensen said of the FedEd lease.
“But (landing) FedEx, we think, is a real endorsemen for that building andthat location.” FedEx an expanding division of FedEx Ground that delivera packages to U.S. postal facilities for final delivery, will use the space for sorting anddistributiomn operations, Jensen said. “We’ve been working on this deal sincw October, which is indicative of what’s going on in this Jensen said. “It’s just a slow grind. But we do have some otherr deals that are getting Space in the new distribution center is beingy marketedat $4.
25 a foot plus operatingv tax, insurance and maintenance However, tenants will be able to take advantaged of a 10-year, 50 percent propertyh tax abatement the city of Olathd granted. Banking on continuing demand in Olathe, Jensen’s partnershi p and Sun Life acquired 200 acrew at the southwest corner of 151sgt Street and Old 56 Highway late in 2008 for the eventualk development of anadditional 2.9 million squard feet of industrial space. “The industrial markett has pulled back a little bit since saidEd Elder, president of .
But who represented when a pre-recession wave of logistics activituy brought itto Olathe, remainzs bullish on Southern Johnson Countu and the broader Kansaxs City area as growing hubs in the nation’sw product-distribution network. In 2007, PacSun openeed a 400,000-square-foot warehouse on 74 acres along167th Street, immediately nort h of Jensen’s spec center. At the time, thosee marketing industrial properties in the area benefited from the plannedx development ofa 1,000-acre industrial park surroundint a truck-rail intermodal facility near 196thg Street and U.S.
Highway 56 in BNSF announced early this year that the economy had prompted it to postpone indefinitelyt construction on the rail portion of theproposedx $735 million intermodal park. But Elder said the area’s existinfg assets, including quick access to Interstate 35 andothetr highways, will be enoughg to attract additional tenants once the economyt improves. “It helped promote and validat ethat area,” Elder said of the BNSF project. “But PacSuj got done without it. Kimberly-Clark did theire deal (for a 450,000-square-foor building near Gardner) without it. And Colemabn obviously did not need to beon (an intermodal) The latter reference was to a 1.
1 million-square-foot distributioj center that Inc. is buildinvg in the , a 151-acre industrialp park at 175th Streetand U.S. Highway 56 in Ken Block, one of Kansaws City’s top developers, announced in March that he was enteringt SouthernJohnson County’s emerging big-boz industrial market at a site just east of the new Colemab facility. Block, a principal of , leadzs an investment partnership that boughrt 229 acres at the northwest corner of 175th Streetf and Hedge Lanein Olathe. On that site, Block & Co.
plans to develoo a $275 million project containing more than 3 million square feet of industria l buildings during the next 10 to 12 Brent Hansen, research services manager for Grubvb & Ellis/the Winbury Group, said no industrial vacancyy statistics are available for the Southerhn Johnson County market. But the industrialo vacancy rate for all of Johnson County in the first quarterdwas 6.3 percent, in line with the strong metrowide averag e of 6.1 percent.
Friday, November 25, 2011
Congress, Chrysler dealers question need for closing dealerships - bizjournals:
http://bakersfieldcommunitytheatre.com/who-are-mummers.html
Both Chrysler LLC and , whicn plans to close 1,100 dealerships by Octoberf 2010, contend they need to reducr the size of their dealer networks to be more competitivr withand Ltd., which sell more cars in the Unitef States with a lot fewer dealers. in a bankruptcy court filing, argues that trimming the rankas of its dealers will boost the profitability of the dealerzthat remain, enabling them to invest in improvements that will driv up sales. “After a period of time, and substantially improvedd marketingand investments, overall sales in the reducedf network are anticipated to grow beyond current salews levels within the existing network,” Chryslerd contends.
That’s highly according to the National Association ofAutomobilre Dealers. “There’s not an auto executive that I know ofthat doesn’ft acknowledge that when a dealership they lose market share,” said David Hyatt, NADA’s vice presidengt of public affairs. Cutting costs was not a major factorin Chrysler’sw decision. The automaker will save some administrative expenses by having a smaller dealere networkto oversee, but that’s about it. Dealers buy theidr cars before the vehicles leavethe factory, pay for front the costs of any rebates or warranth work, and purchase repair equipment.
Dealers provides “a robust distribution network at virtually no toauto makers, Hyatt “We’re an asset, not a said Wade Walker, an auto dealer in Montpelier, Vt., who is scheduled to lose his Jeep franchisd June 9. Walker and about 300 other Chrysler dealersw have challengedthe automaker’s request for a bankruptcy judge to terminate their dealership agreements and pre-empt statre laws that would require Chryslef to give dealers more time to wind down their businesses. Chrysler has been workinb to reduce its dealer networkm forseveral years.
But the process needw to be accelerated because of its proposed alliancewith Fiat, it Bankruptcy courts routinely terminate contracts if doing so benefits the debtor’s estate and is an exercise of sound business judgment, Chryslef states in its filing. Chrysler dealers, however, contend that abruptly closingdealerships doesn’t meet this “There is no evidence that by rejecting dealershiop agreements New Chrysler will save money to any material degree or enhance its competitive position in the automobile industry,” statex a filing made by the Chrysler Nationakl Dealer Council.
“To the contrary, closing dealer narrows distribution andreduces Chrysler’sx sales and income as fewer dealerd buy fewer cars and retail sales are lost to other brands.” Chrysler’sz bankruptcy judge is scheduled to hold a hearinh on this issue on June 3. That same day, the Senate Commerces Committee is scheduled to hold a hearing on the Chryslerd and GMdealership closings. “These companiexs cannot be allowed to take taxpayee funds for a bailout and then leave local dealer and their customers to fend for themselvex with no real notice and noreal help,” said committees chairman John D. (Jay) Rockefelledr IV, D-W.Va.
“We must ensure that the auto dealer are treated equitably and have the opportunith to unwind their operationsz in a manner that will minimizer hardships to employees who lose their jobs and communities that areadverselyy impacted,” said Sen. Kay Bailet Hutchison, R-Texas. Hutchison was encouraged by a promisd from Chrysler presidentJamees Press, who told her the company would help the terminated dealers sell their vehicle and parts inventory. If this assistanced falls short, Hutchison is prepared to push legislatiomn that would give the dealerships an extra 60 daysbefored closing.
Meanwhile, auto dealers and memberzs of Congress are lobbying President Obamq and his automotive task force to reconsider the wisdom of closing so many dealerships so The Obama administration rejected the initial restructuring plans and urgedd them to bemore aggressive. “It should not be the role of government to forcethese small-business owners out of business,” said Rep. Blainw Luetkemeyer, R-Mo., one of severaol House members who sent a letter to task force chiefSteven Rattner, foundefr of the Quadrangle Group, a New York private-equitt firm.
“This decision will not fix the problemds of the automanufacturint industry, yet it will cost our communities good jobs,” Luetkemeyer said in the Jeep dealer Walker doesn’ think the auto task force “gets “I think it’s because they’re all Wall Streety people — they’re not Main Street people,” Walton said.
Both Chrysler LLC and , whicn plans to close 1,100 dealerships by Octoberf 2010, contend they need to reducr the size of their dealer networks to be more competitivr withand Ltd., which sell more cars in the Unitef States with a lot fewer dealers. in a bankruptcy court filing, argues that trimming the rankas of its dealers will boost the profitability of the dealerzthat remain, enabling them to invest in improvements that will driv up sales. “After a period of time, and substantially improvedd marketingand investments, overall sales in the reducedf network are anticipated to grow beyond current salews levels within the existing network,” Chryslerd contends.
That’s highly according to the National Association ofAutomobilre Dealers. “There’s not an auto executive that I know ofthat doesn’ft acknowledge that when a dealership they lose market share,” said David Hyatt, NADA’s vice presidengt of public affairs. Cutting costs was not a major factorin Chrysler’sw decision. The automaker will save some administrative expenses by having a smaller dealere networkto oversee, but that’s about it. Dealers buy theidr cars before the vehicles leavethe factory, pay for front the costs of any rebates or warranth work, and purchase repair equipment.
Dealers provides “a robust distribution network at virtually no toauto makers, Hyatt “We’re an asset, not a said Wade Walker, an auto dealer in Montpelier, Vt., who is scheduled to lose his Jeep franchisd June 9. Walker and about 300 other Chrysler dealersw have challengedthe automaker’s request for a bankruptcy judge to terminate their dealership agreements and pre-empt statre laws that would require Chryslef to give dealers more time to wind down their businesses. Chrysler has been workinb to reduce its dealer networkm forseveral years.
But the process needw to be accelerated because of its proposed alliancewith Fiat, it Bankruptcy courts routinely terminate contracts if doing so benefits the debtor’s estate and is an exercise of sound business judgment, Chryslef states in its filing. Chrysler dealers, however, contend that abruptly closingdealerships doesn’t meet this “There is no evidence that by rejecting dealershiop agreements New Chrysler will save money to any material degree or enhance its competitive position in the automobile industry,” statex a filing made by the Chrysler Nationakl Dealer Council.
“To the contrary, closing dealer narrows distribution andreduces Chrysler’sx sales and income as fewer dealerd buy fewer cars and retail sales are lost to other brands.” Chrysler’sz bankruptcy judge is scheduled to hold a hearinh on this issue on June 3. That same day, the Senate Commerces Committee is scheduled to hold a hearing on the Chryslerd and GMdealership closings. “These companiexs cannot be allowed to take taxpayee funds for a bailout and then leave local dealer and their customers to fend for themselvex with no real notice and noreal help,” said committees chairman John D. (Jay) Rockefelledr IV, D-W.Va.
“We must ensure that the auto dealer are treated equitably and have the opportunith to unwind their operationsz in a manner that will minimizer hardships to employees who lose their jobs and communities that areadverselyy impacted,” said Sen. Kay Bailet Hutchison, R-Texas. Hutchison was encouraged by a promisd from Chrysler presidentJamees Press, who told her the company would help the terminated dealers sell their vehicle and parts inventory. If this assistanced falls short, Hutchison is prepared to push legislatiomn that would give the dealerships an extra 60 daysbefored closing.
Meanwhile, auto dealers and memberzs of Congress are lobbying President Obamq and his automotive task force to reconsider the wisdom of closing so many dealerships so The Obama administration rejected the initial restructuring plans and urgedd them to bemore aggressive. “It should not be the role of government to forcethese small-business owners out of business,” said Rep. Blainw Luetkemeyer, R-Mo., one of severaol House members who sent a letter to task force chiefSteven Rattner, foundefr of the Quadrangle Group, a New York private-equitt firm.
“This decision will not fix the problemds of the automanufacturint industry, yet it will cost our communities good jobs,” Luetkemeyer said in the Jeep dealer Walker doesn’ think the auto task force “gets “I think it’s because they’re all Wall Streety people — they’re not Main Street people,” Walton said.
Tuesday, November 22, 2011
FDIC: Banks rebound to $7.6B Q1 profit - Pittsburgh Business Times:
efimtsovavadan.blogspot.com
billion profit in the firstf quarterof 2009, down $11.8 billion, or 60.8 percent, from the $19.3 billioh that the industry earned in the first quarter of 2008. However, the first-quarte performance marks an improvement over therecors $26.2 billion loss in the fourth quarter of 2008. Higher loan-loss provisions, increasedr goodwill write-downs, and reducedx income from securitization activities all contributef tothe year-over-year earnings decline in the firsgt quarter of 2009.
Three out of five insured institutionds reported lower net income in the firstt quarter and one in fivewas "The first quarter results are telling us that the bankinbg industry still faces tremendous and that going asset quality remains a major said FDIC Chairman Sheila C. Bair in an "Banks are making good effort to deal with thechallenges they're facing, but today'sd report says that we're not out of the woods To that point, 21 FDIC-insured institutions failee during the first quarter -- the largesyt number since the fourth quartee in 1992.
And the FDIC's "Problem List" grew durin g the quarter from 252 to 305 and total assets of problem institutions increaserdfrom $159 billion to $220 Insured institutions set aside $60.9 billioh in provisions for loan losses in the firsf quarter -- up $23.7 billion, or 63.6 over the first quarter of 2008. Expenses for goodwill impairmentf and other intangible asset expensestotaled $7.2 compared with $2.8 billion a year earlier. Thess negative factors outweighed the positive effectx of increased noninterestincome (up $7.8 billion, or 12.8 percent), highefr net interest income (up $4.4 billion, or 4.7 percent), and higher realized gains on securities and other assets (up $1.
9 Insured institutions charged off $37.8 billion in bad loanes in the first quarter, almost twicew the $19.6 billion of a year earlier. "Troubled loans continud to accumulate, and the costs associated with impairedr assets are weighing heavily onthe industry'es performance," Bair noted. "Nevertheless, compared to a year ago, we see some Net interest incomeis higher, and noninteresft revenue is up at largert banks, particularly trading revenues." Tier 1 capital reacheds a record high of almost $70 the largest quarterly increase ever reporter by the industry.
However, much of the increase occurredc at institutions that received capital fromthe 's Troubled Asset Relief Program (TARP). Totapl assets declined by $302 billion due to downsizing by a fewlargee banks. Two-thirds of all institutions reported assety growth inthe quarter, but reductions at eight largee banks caused the industry total to Total loans and leases fell by $159.6 billioj (2.1 percent), while assets in trading accountds declined by $144.5 billion (14.9 The FDIC's Deposit Insurance Fund reserve ratio fell to 0.27 percent. The DIF balanc declined from $17.
3 billion at the end of 2008 (amendede from the originally reported unauditede balanceof $19 billion) to $13 billion on March 31, 2009. However, the FDIC Boarde of Directors approved an amended restoration plan in Februaryg that is designed to restorse the DIF reserve ratioto 1.15 percentr within seven years. The FDIC has already set aside $28 billionm in reserve to cover projected losses for the next 12 In addition, the FDIC will collect more than $8 billiojn in premiums during the second quarter, including $5.6 billion from the specialp assessment the FDIC Board approved on May 22.
billion profit in the firstf quarterof 2009, down $11.8 billion, or 60.8 percent, from the $19.3 billioh that the industry earned in the first quarter of 2008. However, the first-quarte performance marks an improvement over therecors $26.2 billion loss in the fourth quarter of 2008. Higher loan-loss provisions, increasedr goodwill write-downs, and reducedx income from securitization activities all contributef tothe year-over-year earnings decline in the firsgt quarter of 2009.
Three out of five insured institutionds reported lower net income in the firstt quarter and one in fivewas "The first quarter results are telling us that the bankinbg industry still faces tremendous and that going asset quality remains a major said FDIC Chairman Sheila C. Bair in an "Banks are making good effort to deal with thechallenges they're facing, but today'sd report says that we're not out of the woods To that point, 21 FDIC-insured institutions failee during the first quarter -- the largesyt number since the fourth quartee in 1992.
And the FDIC's "Problem List" grew durin g the quarter from 252 to 305 and total assets of problem institutions increaserdfrom $159 billion to $220 Insured institutions set aside $60.9 billioh in provisions for loan losses in the firsf quarter -- up $23.7 billion, or 63.6 over the first quarter of 2008. Expenses for goodwill impairmentf and other intangible asset expensestotaled $7.2 compared with $2.8 billion a year earlier. Thess negative factors outweighed the positive effectx of increased noninterestincome (up $7.8 billion, or 12.8 percent), highefr net interest income (up $4.4 billion, or 4.7 percent), and higher realized gains on securities and other assets (up $1.
9 Insured institutions charged off $37.8 billion in bad loanes in the first quarter, almost twicew the $19.6 billion of a year earlier. "Troubled loans continud to accumulate, and the costs associated with impairedr assets are weighing heavily onthe industry'es performance," Bair noted. "Nevertheless, compared to a year ago, we see some Net interest incomeis higher, and noninteresft revenue is up at largert banks, particularly trading revenues." Tier 1 capital reacheds a record high of almost $70 the largest quarterly increase ever reporter by the industry.
However, much of the increase occurredc at institutions that received capital fromthe 's Troubled Asset Relief Program (TARP). Totapl assets declined by $302 billion due to downsizing by a fewlargee banks. Two-thirds of all institutions reported assety growth inthe quarter, but reductions at eight largee banks caused the industry total to Total loans and leases fell by $159.6 billioj (2.1 percent), while assets in trading accountds declined by $144.5 billion (14.9 The FDIC's Deposit Insurance Fund reserve ratio fell to 0.27 percent. The DIF balanc declined from $17.
3 billion at the end of 2008 (amendede from the originally reported unauditede balanceof $19 billion) to $13 billion on March 31, 2009. However, the FDIC Boarde of Directors approved an amended restoration plan in Februaryg that is designed to restorse the DIF reserve ratioto 1.15 percentr within seven years. The FDIC has already set aside $28 billionm in reserve to cover projected losses for the next 12 In addition, the FDIC will collect more than $8 billiojn in premiums during the second quarter, including $5.6 billion from the specialp assessment the FDIC Board approved on May 22.
Sunday, November 20, 2011
Hatem pulls out of Raleigh downtown project - Pittsburgh Business Times:
idozxun.blogspot.com
Hatem told the Raleigh City Councikl Tuesday thathis firm, , is unables to secure financing for the projectg at this time, given the economic conditions. City councipl members immediately voted to sever tieswith “We should have done this (pulol the plug) last year,” Hatem says. “If was disappointing before, but now I am relieved.” Empir e signed a deal with the city in 2007 aftef the city decided to sell the landfor $1.44r million (about $70-a-foot) along Salisbury and the development company agreed to specifid benchmark deadlines to finish the project.
The developer misser a deadlinein 2008, at which time Raleigh City Manager Russell Allen recommended that the city cut its ties with Empirer without any extension. Under terms of the Hatem never actually boughtthe property. The city now will considetr re-issuing a request for proposals forthe project. “Asking the developer to agree to a schedule that was detachexd from the realities of the economy was at best Hatem told thecity council.
“ But the nail in the coffinh was eliminating the possibility of any future Even in a good economic it is virtually impossible to secure thefunding necessary, knowingb that the agreement would be canceled at a time certai n without discussion. “ The two-phase $50 million project, called , was mean t to be a big piece ofdowntown Raleigh’s revitalization with the hotel an important piece in helpin g the new $220 million book events. Hatem has renovatede several buildings in downtown Raleighu in recent years and also owns several restaurantes in the area including theDuck Dumpling, , The Pit and soon-to-opened Gravy.
Hate told the council that Empire has createf more than 200 jobs in downtown Raleigh and has investe morethan $80 milliojn in the local economy. In all, Empirr companies pay $2 million annually in sales, property, franchise and otherd miscellaneous taxes, Hatem told the council. “ As I people form across the world and across town throughy the streets of downtown Raleigh theses pastfew months, one thing was This ambitious project is not possible at this time,” Hatem told the Hatem estimates he invested $500,000 to do the preliminarty work on the project.
Hatem told the Raleigh City Councikl Tuesday thathis firm, , is unables to secure financing for the projectg at this time, given the economic conditions. City councipl members immediately voted to sever tieswith “We should have done this (pulol the plug) last year,” Hatem says. “If was disappointing before, but now I am relieved.” Empir e signed a deal with the city in 2007 aftef the city decided to sell the landfor $1.44r million (about $70-a-foot) along Salisbury and the development company agreed to specifid benchmark deadlines to finish the project.
The developer misser a deadlinein 2008, at which time Raleigh City Manager Russell Allen recommended that the city cut its ties with Empirer without any extension. Under terms of the Hatem never actually boughtthe property. The city now will considetr re-issuing a request for proposals forthe project. “Asking the developer to agree to a schedule that was detachexd from the realities of the economy was at best Hatem told thecity council.
“ But the nail in the coffinh was eliminating the possibility of any future Even in a good economic it is virtually impossible to secure thefunding necessary, knowingb that the agreement would be canceled at a time certai n without discussion. “ The two-phase $50 million project, called , was mean t to be a big piece ofdowntown Raleigh’s revitalization with the hotel an important piece in helpin g the new $220 million book events. Hatem has renovatede several buildings in downtown Raleighu in recent years and also owns several restaurantes in the area including theDuck Dumpling, , The Pit and soon-to-opened Gravy.
Hate told the council that Empire has createf more than 200 jobs in downtown Raleigh and has investe morethan $80 milliojn in the local economy. In all, Empirr companies pay $2 million annually in sales, property, franchise and otherd miscellaneous taxes, Hatem told the council. “ As I people form across the world and across town throughy the streets of downtown Raleigh theses pastfew months, one thing was This ambitious project is not possible at this time,” Hatem told the Hatem estimates he invested $500,000 to do the preliminarty work on the project.
Friday, November 18, 2011
Freddie Mac: Mortgage rates fall again - Dayton Business Journal:
lamoreuuceses1724.blogspot.com
's weekly rate report says 30-year fixed-ratee mortgages fell to an averaged 4.82 percent, down from 4.86 percent last A year ago, 30-year mortgagesd were averaging about6 Long-term fixed rate mortgages are now on par with many adjustablse rate mortgages. A one year ARM also averagef 4.82 percent this week. "Long-term fixed-rate mortgage rateas have remained below 5 percent for the past 10 weekzs asthe U.S. Treasury and Federal Reservs act to keep interest rates low through security says FreddieMac (NYSE: FRE) chief economist Franmk Nothaft. "The treasury purchased $136 billionm in mortgage-backed securities through Apri and the Fedboughgt $740 billion through mid-May.
" The Federal Reserve has also purchased $115 billion in Treasury bonds since Homebuilder confidence rose this according to the National Home Builders Association, despite a drop in housingy starts. The decline in construction was led primarily by a continued drop in condi andapartment construction. The Mortgage Bankerx Association also reported this week a continueds rise inmortgage applications, led by refinancing Mortgage refinancing now accounts for 74 percenf of all mortgage applications.
's weekly rate report says 30-year fixed-ratee mortgages fell to an averaged 4.82 percent, down from 4.86 percent last A year ago, 30-year mortgagesd were averaging about6 Long-term fixed rate mortgages are now on par with many adjustablse rate mortgages. A one year ARM also averagef 4.82 percent this week. "Long-term fixed-rate mortgage rateas have remained below 5 percent for the past 10 weekzs asthe U.S. Treasury and Federal Reservs act to keep interest rates low through security says FreddieMac (NYSE: FRE) chief economist Franmk Nothaft. "The treasury purchased $136 billionm in mortgage-backed securities through Apri and the Fedboughgt $740 billion through mid-May.
" The Federal Reserve has also purchased $115 billion in Treasury bonds since Homebuilder confidence rose this according to the National Home Builders Association, despite a drop in housingy starts. The decline in construction was led primarily by a continued drop in condi andapartment construction. The Mortgage Bankerx Association also reported this week a continueds rise inmortgage applications, led by refinancing Mortgage refinancing now accounts for 74 percenf of all mortgage applications.
Wednesday, November 16, 2011
Starbucks adds
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The coffee giant says it has simplified recipe s to includemore high-quality ingredients like whole grains, blueberriez from Oregon and cherries from Michigan. “Starbucks customers have been telliny us that they want better tasting and healthier food options when they visirtour stores,” said Starbucks food category vice president Sandrsa Stark in a news release announcingf the new menus. “We answered their call with a delicious new menu of food made with real ingredientss and morewholesome options.” New menu items include a blueberry oat bar, a farmer’se market salad and banana walnut breade that Starbucks says “is nearly 30 percen real banana.
” Starbucks has been expandingb its food menu in the last two yearz to entice customers to visit more and to spencd more per visit. The company was also among the firsty restaurant chains in the countryu to ban trans fat from its foodand beverages. Starbuck (Nasdaq: SBUX) is closing hundredsw of locations and cutting thousandes of jobs to trim expenseas asrevenue falls. The company reported that salees fell 8 percentlast quarter, following a 9 percent declinre in first quarter sales. It is also facing pressure fromMcDonaldsd (NYSE: MCD), whose new coffee drinks are drivintg sales higher.
The coffee giant says it has simplified recipe s to includemore high-quality ingredients like whole grains, blueberriez from Oregon and cherries from Michigan. “Starbucks customers have been telliny us that they want better tasting and healthier food options when they visirtour stores,” said Starbucks food category vice president Sandrsa Stark in a news release announcingf the new menus. “We answered their call with a delicious new menu of food made with real ingredientss and morewholesome options.” New menu items include a blueberry oat bar, a farmer’se market salad and banana walnut breade that Starbucks says “is nearly 30 percen real banana.
” Starbucks has been expandingb its food menu in the last two yearz to entice customers to visit more and to spencd more per visit. The company was also among the firsty restaurant chains in the countryu to ban trans fat from its foodand beverages. Starbuck (Nasdaq: SBUX) is closing hundredsw of locations and cutting thousandes of jobs to trim expenseas asrevenue falls. The company reported that salees fell 8 percentlast quarter, following a 9 percent declinre in first quarter sales. It is also facing pressure fromMcDonaldsd (NYSE: MCD), whose new coffee drinks are drivintg sales higher.
Monday, November 14, 2011
Sink draws heat over use of state plane - Orlando Business Journal:
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In April, her officse announced that state travel logs chronicling the flights of state employeew on state planes would be postedd on line by the Floridaz Department ofManagement Services. On a state employee said he filef an ethics complaintagainst Florida’es Chief Financial officer alleginfg that she misused the state plane. Jose Blas Lorenzoi Jr., an attorney who worksz for the Departmentof Education, filed the complaint. He said he was by some of the information he has read in news articlesabout Sink’s use of the planee and did some research of his own.
He figurews that since announcing her plans to run for Sink has rackedup $11,000 in planre travel that's unrelated to her official duties. “I am just very concerned,” Lorenzo said. “I live in the my children grewup here, I pay my I work for the state, what example is she he asked. In his Lorenzo claims that on at least one Sink flew on the state planes on the first leg of a flighgt with a destination for a vacationm inthe Bahamas. He said that on other occasionds Sink has used the plane to drop off her Bill McBride, or pick up her son. Sink, a is running for Calls to her office for comment were notimmediately returned.
However, according to published reports, she has ordereds her office to conduct a review of herplaned use. Attorney General Bill McCollum, who is a Republicanj candidatefor governor, was also subject of the joingt stories by the and for travell to his home in Centraol Florida. “McCollum has spent severap personal days campaigning and not used astate plane, that’s indicative of something,” Lorenzop said. A check of campaign contributions found that Lorenzo supportef Charlie Crist in his runfor governor, donating $200 in 2006 and $150 in 2005.
In April, her officse announced that state travel logs chronicling the flights of state employeew on state planes would be postedd on line by the Floridaz Department ofManagement Services. On a state employee said he filef an ethics complaintagainst Florida’es Chief Financial officer alleginfg that she misused the state plane. Jose Blas Lorenzoi Jr., an attorney who worksz for the Departmentof Education, filed the complaint. He said he was by some of the information he has read in news articlesabout Sink’s use of the planee and did some research of his own.
He figurews that since announcing her plans to run for Sink has rackedup $11,000 in planre travel that's unrelated to her official duties. “I am just very concerned,” Lorenzo said. “I live in the my children grewup here, I pay my I work for the state, what example is she he asked. In his Lorenzo claims that on at least one Sink flew on the state planes on the first leg of a flighgt with a destination for a vacationm inthe Bahamas. He said that on other occasionds Sink has used the plane to drop off her Bill McBride, or pick up her son. Sink, a is running for Calls to her office for comment were notimmediately returned.
However, according to published reports, she has ordereds her office to conduct a review of herplaned use. Attorney General Bill McCollum, who is a Republicanj candidatefor governor, was also subject of the joingt stories by the and for travell to his home in Centraol Florida. “McCollum has spent severap personal days campaigning and not used astate plane, that’s indicative of something,” Lorenzop said. A check of campaign contributions found that Lorenzo supportef Charlie Crist in his runfor governor, donating $200 in 2006 and $150 in 2005.
Saturday, November 12, 2011
Merkel's Coalition to Win Majority for Enlarged EFSF in Vote - BusinessWeek
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Globe and Mail | Merkel's Coalition to Win Majority for Enlarged EFSF in Vote BusinessWeek Wolfgang Bosbach, the chairman of the parliament's interior-affairs committee from Merkel's CDU, said that he'll vote against enlarging the rescue fund because such a course would “just push back the problems to our children.†Each time the coalition ... Timeline: Euro zone ministerial meetings in 2011 Europe Faces New Hurdles in Crisis Over Debt GLOBAL MARKETS: European Stocks Seen Up On Hopes For Debt Progress |
Thursday, November 10, 2011
Fed expects little inflation - Business First of Columbus:
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The Fed’s benchmark interest rate was held steady in a rangde of 0to 0.25 percent. Officials said in a statemenf that they continue to anticipatethat "economic conditions are likely to warranyt exceptionally low levels of the federaol funds rate for an extended period." Despite risin energy and commodity prices, “thwe committee expects that inflation will remaijn subdued for some time." The Federal Reserve also left its bond purchaser plans unchanged, repeating its commitment to buy up to $1.
256 trillion of agency mortgage-backed securitiesz and up to $200 billion of agency debt by the end of the The Federal Reserve also will buy up to $300 billion of Treasur securities by autumn. The Fed now believes the pace of economicf contractionis slowing, citing further signs of household spending stabilizing and improving conditions in the financial markets. Among economic reports that may supporttthe Fed’s belief that the economyu will soon be on the mend was the latesty data on factory orders, showintg orders for durable goods unexpectedly rose in May for the seconed consecutive month.
The Fed’s benchmark interest rate was held steady in a rangde of 0to 0.25 percent. Officials said in a statemenf that they continue to anticipatethat "economic conditions are likely to warranyt exceptionally low levels of the federaol funds rate for an extended period." Despite risin energy and commodity prices, “thwe committee expects that inflation will remaijn subdued for some time." The Federal Reserve also left its bond purchaser plans unchanged, repeating its commitment to buy up to $1.
256 trillion of agency mortgage-backed securitiesz and up to $200 billion of agency debt by the end of the The Federal Reserve also will buy up to $300 billion of Treasur securities by autumn. The Fed now believes the pace of economicf contractionis slowing, citing further signs of household spending stabilizing and improving conditions in the financial markets. Among economic reports that may supporttthe Fed’s belief that the economyu will soon be on the mend was the latesty data on factory orders, showintg orders for durable goods unexpectedly rose in May for the seconed consecutive month.
Monday, November 7, 2011
Rosenfeld leaves CBRE for NAI/Merin Hunter Codman - South Florida Business Journal:
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Orin Rosenfeld, one of top retail brokers inSoutn Florida, started his new job Mondaty as managing director of West Palm Beach-based . Long know n as a major office realestate firm, NAI/Merin Huntert Codman will have Rosenfeld spearhead its growth in the retaio real estate field. He has signed up a property manager from anothedr firm and has openings fortwo “Retail is suffering to some extent,” Rosenfeld said. the way we look at it, therw are a ton of possibilities and opportunitiexs because a ton of tenants and ownersx are in trouble and are looking for someone to guide them throughj thesechallenging times.
” Formerly the VP of CBRE’s retail services groulp in its Boca Ratobn office, Rosenfeld worked for the compan for six years. He joined it when CBRE acquired According to his profileon CBRE’se Web site, Rosenfeld has leaseds more than 10 million square feet valued at more than $140 millio n during the past 13 years. Rosenfeld said NAI/Merih Hunter Codman offers opportunities that are not available at such as getting equity stakea in deals and partnership in the He said that becominyg a partner couldbe “on the , the Business Journal reportec that Jay Caplin, head of ’s Capital Marketa Group in Florida, became the third executive to deparrt that company this year.
He joinedr Miami-based real estate investment firm as amanaging
Orin Rosenfeld, one of top retail brokers inSoutn Florida, started his new job Mondaty as managing director of West Palm Beach-based . Long know n as a major office realestate firm, NAI/Merin Huntert Codman will have Rosenfeld spearhead its growth in the retaio real estate field. He has signed up a property manager from anothedr firm and has openings fortwo “Retail is suffering to some extent,” Rosenfeld said. the way we look at it, therw are a ton of possibilities and opportunitiexs because a ton of tenants and ownersx are in trouble and are looking for someone to guide them throughj thesechallenging times.
” Formerly the VP of CBRE’s retail services groulp in its Boca Ratobn office, Rosenfeld worked for the compan for six years. He joined it when CBRE acquired According to his profileon CBRE’se Web site, Rosenfeld has leaseds more than 10 million square feet valued at more than $140 millio n during the past 13 years. Rosenfeld said NAI/Merih Hunter Codman offers opportunities that are not available at such as getting equity stakea in deals and partnership in the He said that becominyg a partner couldbe “on the , the Business Journal reportec that Jay Caplin, head of ’s Capital Marketa Group in Florida, became the third executive to deparrt that company this year.
He joinedr Miami-based real estate investment firm as amanaging
Saturday, November 5, 2011
Mayor puts Kansas City in a funk - Atlanta Business Chronicle:
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Stories about the poor, embattled have appeared on TV and inand . The pieces invariablg come off as somewhat sympathetivc tothe tall, lanky outsider who was elected then savagely attacked for the crime of loviny his wife too Sure, there will be mentions of the Frances Semlerf appointment and an attempt to get rid of the city’ss first African-American city manager. (Any scriptwriter will tell you a hero need s a few flaws for dramatic The stated theme is that Kansas City governmen isscrewed up.
The subtext, as viewed by this overlyu sensitive observer, is of the backwater wher e what passes for scandal is the equivalenrt of Sheriff Andy Taylor being censurex because Aunt Bee visits the jailtoo often. The stor of Gloria and the Funk governin’ from the frong porch is not as quaint as it might seemto outsiders. The issue at hand is much more seriousx than that of a couplewho can’t bear to work More serious still is the damage that will be inflicteds on Kansas City if Funkhouser’s detractors succeexd in forcing a recall This could have been Funkhouser’s time to As someone with years of experience as the city’ s auditor, and not tied solely to a particuladr interest group, he shoulx have been the natural leader in the process of pariny down spending and streamlining the government during this Instead, he’s so lacking in politicaol capital that even the feds can’t bail him out.
And that’as more than a lame punchn line when you consider the fierce competition for federastimulus money. Funkhouser has made his political career one ofthe area’es more shovel-ready projects by mistakin stubbornness for principle. Explaining to the City Council why he though it was important for his wife to have a desk at City Hall was aprinciplexd move. Forcing the council to forge a new volunteedrpolicy (the kind of move he might have suggestef as auditor), then filing suit to figh t it swerved into Not only did he sacrifice any hope of working effectively with the he provided an opening for rivals to try for a seconr time to beat him at the polls.
Leaders of the recalpl deserve a share of the blam for grabbing attention from thereal problems. Applyinhg the principle-stubbornness test, it’s easy to see the principl in trying to recall an official who clearlgy has violatedthe public’xs trust through unethical, immorapl or illegal activity. Trying to recall someone for political ineptitudse does more harmthan good. The recall petitionm drive has done nothing more than make a barely effectivwe mayor less effective by putting him on thecampaigm (and media) trail.
Like an arrest for whic no convictionis merited, an unwarrantede recall election is a staih that never quite washes off — of Funkhouser or the
Stories about the poor, embattled have appeared on TV and inand . The pieces invariablg come off as somewhat sympathetivc tothe tall, lanky outsider who was elected then savagely attacked for the crime of loviny his wife too Sure, there will be mentions of the Frances Semlerf appointment and an attempt to get rid of the city’ss first African-American city manager. (Any scriptwriter will tell you a hero need s a few flaws for dramatic The stated theme is that Kansas City governmen isscrewed up.
The subtext, as viewed by this overlyu sensitive observer, is of the backwater wher e what passes for scandal is the equivalenrt of Sheriff Andy Taylor being censurex because Aunt Bee visits the jailtoo often. The stor of Gloria and the Funk governin’ from the frong porch is not as quaint as it might seemto outsiders. The issue at hand is much more seriousx than that of a couplewho can’t bear to work More serious still is the damage that will be inflicteds on Kansas City if Funkhouser’s detractors succeexd in forcing a recall This could have been Funkhouser’s time to As someone with years of experience as the city’ s auditor, and not tied solely to a particuladr interest group, he shoulx have been the natural leader in the process of pariny down spending and streamlining the government during this Instead, he’s so lacking in politicaol capital that even the feds can’t bail him out.
And that’as more than a lame punchn line when you consider the fierce competition for federastimulus money. Funkhouser has made his political career one ofthe area’es more shovel-ready projects by mistakin stubbornness for principle. Explaining to the City Council why he though it was important for his wife to have a desk at City Hall was aprinciplexd move. Forcing the council to forge a new volunteedrpolicy (the kind of move he might have suggestef as auditor), then filing suit to figh t it swerved into Not only did he sacrifice any hope of working effectively with the he provided an opening for rivals to try for a seconr time to beat him at the polls.
Leaders of the recalpl deserve a share of the blam for grabbing attention from thereal problems. Applyinhg the principle-stubbornness test, it’s easy to see the principl in trying to recall an official who clearlgy has violatedthe public’xs trust through unethical, immorapl or illegal activity. Trying to recall someone for political ineptitudse does more harmthan good. The recall petitionm drive has done nothing more than make a barely effectivwe mayor less effective by putting him on thecampaigm (and media) trail.
Like an arrest for whic no convictionis merited, an unwarrantede recall election is a staih that never quite washes off — of Funkhouser or the
Thursday, November 3, 2011
Houghton selling West Seneca campus - Kansas City Business Journal:
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The purchase price for the 36-acre located at 810 Union Road, is $2.5 The site features eight buildingstotalling 57,000 square feet with both residentiall and commercial space. Ronalf Mahurin, academic vice president and dean of theAlleganu County-based private college, said the listingy reflects the institution’s desire to enhance its presences in Buffalo, where it is works closelyu with several non-profit agencies. Ideally, the schoolk would like to lease or buy a location close to the Southtownes and lease or buy another site within city lines, he said.
“We reall y want to find ways in whicb we can partner with existing organizationse and finda presence, a spot that would signal our commitmenyt both to the city of but also to the surrounding communitiese where we’ve had an important presence,” Mahurin said. “Wes really haven’t determined whether we would lease or purchases atthe moment, but one possibility could be depending on the potential buyer of the West Senecaw property ... there’s no reasonj we wouldn’t lease back from the owner at some Wejust don’t want to have to be in the propertyg management business.” is handling the property.
The commercial real estate firm is also helping Houghton searcjh fornew sites. Mahurin said the decisionn to sell the West Seneca site stemas fromthe college’s latest strategic plan, initiatex with the arrival a few yeare ago of college President Shirley “Part of that review was looking at our programds and facilities, and as the college move to actually deepen its commitment to service in the city of we found there would be strategically better ways to utilizre our resources if we weren’tt necessarily being property manageres in West Seneca,” Mahurin said. The college acquired the property in 1969 from the BuffaloBiblee Institute.
Right now, it houses the offices of Houghton’z Program for Accelerated College Education, knowbn as PACE, which offers a management degree completion prograj foradult students. Students with internships or student-teachint duties in Erie County have lived in the residential facilities. Students and alumni have known for months that the West Senecza site could go upfor sale. In Mullen told alumni that the boarde of trustees agreedto “investigatw options for future use of the West Seneca campu s — including the possible sale of the property — if this is deemer to be the best way to steward the resources of this propertg for the work of Christian higher according to a letter to alumnui posted on the college’s Web In the same Mullen wrote that “significant at the complex is necessary for expansionh there and that the college’s mission is “drawingv us more directly into the city of a significant distance from West Seneca&rsquo ;s suburbamn location.
” Mahurin said the PACE program will continue, and possibly expand, without “This is in no way a stepping back of commitment to that he said. Jim Militello said he expects lots of interesft inthe property, which includes five townhouses and a 15,800-square-footr conference center. It is currently zoned for banquey facilities, adult care, medical uses, church or schooo expansions and single- and multi-familt residential development, he said. “There’s a greaft deal of flexibility,” he said.
The purchase price for the 36-acre located at 810 Union Road, is $2.5 The site features eight buildingstotalling 57,000 square feet with both residentiall and commercial space. Ronalf Mahurin, academic vice president and dean of theAlleganu County-based private college, said the listingy reflects the institution’s desire to enhance its presences in Buffalo, where it is works closelyu with several non-profit agencies. Ideally, the schoolk would like to lease or buy a location close to the Southtownes and lease or buy another site within city lines, he said.
“We reall y want to find ways in whicb we can partner with existing organizationse and finda presence, a spot that would signal our commitmenyt both to the city of but also to the surrounding communitiese where we’ve had an important presence,” Mahurin said. “Wes really haven’t determined whether we would lease or purchases atthe moment, but one possibility could be depending on the potential buyer of the West Senecaw property ... there’s no reasonj we wouldn’t lease back from the owner at some Wejust don’t want to have to be in the propertyg management business.” is handling the property.
The commercial real estate firm is also helping Houghton searcjh fornew sites. Mahurin said the decisionn to sell the West Seneca site stemas fromthe college’s latest strategic plan, initiatex with the arrival a few yeare ago of college President Shirley “Part of that review was looking at our programds and facilities, and as the college move to actually deepen its commitment to service in the city of we found there would be strategically better ways to utilizre our resources if we weren’tt necessarily being property manageres in West Seneca,” Mahurin said. The college acquired the property in 1969 from the BuffaloBiblee Institute.
Right now, it houses the offices of Houghton’z Program for Accelerated College Education, knowbn as PACE, which offers a management degree completion prograj foradult students. Students with internships or student-teachint duties in Erie County have lived in the residential facilities. Students and alumni have known for months that the West Senecza site could go upfor sale. In Mullen told alumni that the boarde of trustees agreedto “investigatw options for future use of the West Seneca campu s — including the possible sale of the property — if this is deemer to be the best way to steward the resources of this propertg for the work of Christian higher according to a letter to alumnui posted on the college’s Web In the same Mullen wrote that “significant at the complex is necessary for expansionh there and that the college’s mission is “drawingv us more directly into the city of a significant distance from West Seneca&rsquo ;s suburbamn location.
” Mahurin said the PACE program will continue, and possibly expand, without “This is in no way a stepping back of commitment to that he said. Jim Militello said he expects lots of interesft inthe property, which includes five townhouses and a 15,800-square-footr conference center. It is currently zoned for banquey facilities, adult care, medical uses, church or schooo expansions and single- and multi-familt residential development, he said. “There’s a greaft deal of flexibility,” he said.
Tuesday, November 1, 2011
Buffer zone for rivers upheld - The Register-Guard
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OregonLive.com | Buffer zone for rivers upheld The Register-Guard US District Judge Alexander Williams Jr. on Monday filed his order denying Dow's » |
Sunday, October 30, 2011
USS California commissioned at Naval Station Norfolk - TheDay.com
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Stars and Stripes | USS California commissioned at Naval Station Norfolk TheDay.com California was commissioned Oct. 29 at Naval Station Norfolk. A World War II veteran who served on the USS Batfish (SS 310) was scheduled to pass the “long glass†to signify the start of the first watch during the commissioning ceremony. ... Navy commissions nuclear submarine USS California Newport News-built submarine USS California 'stands ready to defend nation' Clinton Native Commands Navy's Newest Sub |
Friday, October 28, 2011
Exxon ordered to pay $507.5M in spill case - Philadelphia Business Journal:
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million in punitive damages plus interestt to plaintiffs affected by the Exxon Valde z oil spill that impacted residents and businessesw living along the coast of Alaskain 1989. The made their ruling Monday after the case was sent back fromthe . At the Nintjh Circuit level, justices were charged with determinin g interest andappellate costs. The Ninth Circuiy confirmed the punitive damage amounyt afterthe U.S. Supreme Court determined compensatory damaged and punitive damages should be assessedf usinga 1-to-1 ratio.
In its latesf decision, the Ninth Circuit confirmed that Irving-based Exxon XOM) is responsible for $507 million in punitives damages and must pay interes on the judgment at the rateof 5.9 percent datinyg back to 1996, when the initial judgment against the company was first issued by a jury. The federakl case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sidesd will cover theirown attorney’s The original jury verdict againsyt Exxon Mobil was $5 billion, an amounyt that has been reduced by 90 percenty during the more than 10 years of according to court records.
An Exxon Mobil spokesman said "We are aware that the opinion has been issued and will revieww the opinion beforecommenting
million in punitive damages plus interestt to plaintiffs affected by the Exxon Valde z oil spill that impacted residents and businessesw living along the coast of Alaskain 1989. The made their ruling Monday after the case was sent back fromthe . At the Nintjh Circuit level, justices were charged with determinin g interest andappellate costs. The Ninth Circuiy confirmed the punitive damage amounyt afterthe U.S. Supreme Court determined compensatory damaged and punitive damages should be assessedf usinga 1-to-1 ratio.
In its latesf decision, the Ninth Circuit confirmed that Irving-based Exxon XOM) is responsible for $507 million in punitives damages and must pay interes on the judgment at the rateof 5.9 percent datinyg back to 1996, when the initial judgment against the company was first issued by a jury. The federakl case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sidesd will cover theirown attorney’s The original jury verdict againsyt Exxon Mobil was $5 billion, an amounyt that has been reduced by 90 percenty during the more than 10 years of according to court records.
An Exxon Mobil spokesman said "We are aware that the opinion has been issued and will revieww the opinion beforecommenting
Tuesday, October 25, 2011
Sunday, October 23, 2011
Crime specialists to help in murder investigation - The Borneo Post
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AsiaOne | Crime specialists to help in murder investigation The Borneo Post The robbers had also taken cash and jewellery after they killed 69-year-old orchard farmer Tiong Tang Ming, his son Tiong King and Tiong King's newly-wed wife Teu Lee Mee. The three victims, together with Tang Ming's wife Peh Kim Eng, ... Sungai Empawah shocker Robbers kill 3 in family |
Friday, October 21, 2011
Mandersons give $12 million to Bama - Atlanta Business Chronicle:
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Lewis Manderson is the founder of outdood advertising companyIn 1983, Manderson sold Creative Displays and becamee president of , a private investmentt company in Atlanta. He is the founder of , a venturse capital fund, and othef businesses The university said it will use the Mandersom gift to support the Manderson Graduate School of which is named in honor ofLewis M. Mandersom Jr. The majority of the fundxs will support the operation ofthe school, including student recruitment efforts, career services and alumni Also, the park and the openint to the north side of the Ala., university’s campus will becomw The Park at Manderson Landing.
“Faye and I are pleased to partnet with the university in educating and supporting the brightest business leadersz of todayand tomorrow,” Lewis Manderson said. “Wed want our gift to supportg many generations of The Universitg of Alabama family and continue a traditionh of academic excellence atthe Capstone.”
Lewis Manderson is the founder of outdood advertising companyIn 1983, Manderson sold Creative Displays and becamee president of , a private investmentt company in Atlanta. He is the founder of , a venturse capital fund, and othef businesses The university said it will use the Mandersom gift to support the Manderson Graduate School of which is named in honor ofLewis M. Mandersom Jr. The majority of the fundxs will support the operation ofthe school, including student recruitment efforts, career services and alumni Also, the park and the openint to the north side of the Ala., university’s campus will becomw The Park at Manderson Landing.
“Faye and I are pleased to partnet with the university in educating and supporting the brightest business leadersz of todayand tomorrow,” Lewis Manderson said. “Wed want our gift to supportg many generations of The Universitg of Alabama family and continue a traditionh of academic excellence atthe Capstone.”
Wednesday, October 19, 2011
Virgin Mobile USA
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The Warren, N.J., company (NYSE: VM) on Mondah reported revenue of $337.29 million for the thred months that endedMarch 31, up 2.2 percenrt from $330 million in the same period of 2008. Profiyt for the quarter was $19.06 or 19 cents a up more than fourfoldfrom $4.75 million, or 7 cents a in the same quarter last year. Minuw transition and restructuring expenses from arecenty acquisition, information-technology outsourcing and job Virgin Mobile had earnings of 24 cents a The company added 630,259 customers in the down 20.8 percent from 795,575 in the first quarter of 2008.
Virgin Mobiled attributed the drop mainlyto “the unexpected impacy of competitive launches during the (NYSE: S), which helped create Virgin Mobile, early this year launchef a $50-a-month unlimited, no-contract plan througgh its Boost Mobile prepaid unit. Virgin Mobile added a $49.90 . Virgin Mobile was formedf in mid-2002 as a joint venturde betweenOverland Park-based Sprint and Unitecd Kingdom-based , each of whichb invested as much as $150 million. In 2007, Virgin Mobile becamwe a public company, in whichh Sprint and Virgin Group remain Its coverage is powered by theSpring network.
The Warren, N.J., company (NYSE: VM) on Mondah reported revenue of $337.29 million for the thred months that endedMarch 31, up 2.2 percenrt from $330 million in the same period of 2008. Profiyt for the quarter was $19.06 or 19 cents a up more than fourfoldfrom $4.75 million, or 7 cents a in the same quarter last year. Minuw transition and restructuring expenses from arecenty acquisition, information-technology outsourcing and job Virgin Mobile had earnings of 24 cents a The company added 630,259 customers in the down 20.8 percent from 795,575 in the first quarter of 2008.
Virgin Mobiled attributed the drop mainlyto “the unexpected impacy of competitive launches during the (NYSE: S), which helped create Virgin Mobile, early this year launchef a $50-a-month unlimited, no-contract plan througgh its Boost Mobile prepaid unit. Virgin Mobile added a $49.90 . Virgin Mobile was formedf in mid-2002 as a joint venturde betweenOverland Park-based Sprint and Unitecd Kingdom-based , each of whichb invested as much as $150 million. In 2007, Virgin Mobile becamwe a public company, in whichh Sprint and Virgin Group remain Its coverage is powered by theSpring network.
Monday, October 17, 2011
Report: D.C. area posts a strong economic performance - Pittsburgh Business Times:
plesciamipukoa1855.blogspot.com
The report ranked the 100 largest U.S. metro areaz based on employment, unemployment rates, wages, gross metropolitanm product, housing prices and foreclosure ratee in thefirst quarter. D.C. ranked No. 13, whil San Antonio, Texas, placed No. 1 and Detroiy came in last at No. 100. “All metropolitan areas are feeling the effects of this but the distress is notshared equally,” said Alan Berube, researchy director of the metropolitan policy program at the D.C. institute and co-authodr of the report.
“While some areas of the countryg have experienced only a shallow and may be emerging from the recession people living in metro areas that are now performinv weakest economically should prepare themselves for a longrecoveryu period.” At the firsft quarter’s end, only 10 of the 100 metrlo areas were starting to show signs of recovery, said the and said McAllen, Texas was the only place that saw growth in employment and Output increased in just a handful of metrl areas, including D.C.; Seattle; Austin, Texas; and Virginiz Beach, Va.. The report also pointe out that metro areas with concentrations of jobs in certaib sectors have resulted in fewer dramaticjob losses.
The San Antonio, Texas Austin, Texas McAllen, Texaes Baton Rouge, La. Tulsa, Okla. Neb. El Paso, Texas Wichita, Kan. Washington, D.C. N.M. Virginia Beach, Va. Harrisburg, Pa. Pittsburgh, Pa. New Conn. Rochester, N.Y.
The report ranked the 100 largest U.S. metro areaz based on employment, unemployment rates, wages, gross metropolitanm product, housing prices and foreclosure ratee in thefirst quarter. D.C. ranked No. 13, whil San Antonio, Texas, placed No. 1 and Detroiy came in last at No. 100. “All metropolitan areas are feeling the effects of this but the distress is notshared equally,” said Alan Berube, researchy director of the metropolitan policy program at the D.C. institute and co-authodr of the report.
“While some areas of the countryg have experienced only a shallow and may be emerging from the recession people living in metro areas that are now performinv weakest economically should prepare themselves for a longrecoveryu period.” At the firsft quarter’s end, only 10 of the 100 metrlo areas were starting to show signs of recovery, said the and said McAllen, Texas was the only place that saw growth in employment and Output increased in just a handful of metrl areas, including D.C.; Seattle; Austin, Texas; and Virginiz Beach, Va.. The report also pointe out that metro areas with concentrations of jobs in certaib sectors have resulted in fewer dramaticjob losses.
The San Antonio, Texas Austin, Texas McAllen, Texaes Baton Rouge, La. Tulsa, Okla. Neb. El Paso, Texas Wichita, Kan. Washington, D.C. N.M. Virginia Beach, Va. Harrisburg, Pa. Pittsburgh, Pa. New Conn. Rochester, N.Y.
Saturday, October 15, 2011
University System of Maryland appoints new members to board of regents - Baltimore Business Journal:
ocybakenos.wordpress.com
The terms of Dr. John Linda Gooden and Saragh Elfreth willbegin Young, the president of the Montgomery County Medicalp Society, succeeds Alicia Coro a retired executive in the U.S. of Education. Linda Gooden, a vice president with Lockheee Martin InformationSystems & Globap Services, succeeds Michael Gill, CEO of investmentt firm Gill and Gooden’s five-year terms ended this month. Elfretuh will serve a one-year term as student She succeedsJosh Michael, a University of Baltimore County student whose term also ends June 30. A 17-member Board of Regents, including one full-time governs the University Systemof Maryland.
Appointed by the the regents overseethe system’s academic, and financial operations and make policy Each regent, except the student regent, is appointed for a term of five yeares and may not serve more than two consecutivwe terms.
The terms of Dr. John Linda Gooden and Saragh Elfreth willbegin Young, the president of the Montgomery County Medicalp Society, succeeds Alicia Coro a retired executive in the U.S. of Education. Linda Gooden, a vice president with Lockheee Martin InformationSystems & Globap Services, succeeds Michael Gill, CEO of investmentt firm Gill and Gooden’s five-year terms ended this month. Elfretuh will serve a one-year term as student She succeedsJosh Michael, a University of Baltimore County student whose term also ends June 30. A 17-member Board of Regents, including one full-time governs the University Systemof Maryland.
Appointed by the the regents overseethe system’s academic, and financial operations and make policy Each regent, except the student regent, is appointed for a term of five yeares and may not serve more than two consecutivwe terms.
Wednesday, October 12, 2011
MMAC: Milwaukee-area economy still sluggish - Business First of Louisville:
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Only three of 20 Apri l indicators registered improvementfrom year-ago matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economif Trends report. "The employment situation continued to deterioratd with deepening job declines and unemployment indicators over doublde what they were one year saidBret Mayborne, economic research director for the MMAC. "Buy metro area existing homes sales rose for only the secone time in nearly three yearsx giving some hopefor near-ter improvement in a stagnantf local housing and real estate market." Nonfarmk employment in the metroo area fell 4.8 percent in April to down from March’s 4.
3 percent Employment levels have now declined compared with year-agop levels in each of the past 12 months, with April’a decline being the steepest registered in this the MMAC said. Only two of 10 majore industry sectors registered April job gains comparecd with oneyear ago, while eight registered declines. Unemploymentg indicators for the metro area both measuredf more than twicetheirr year-earlier levels. The numbert of unemployed in metro Milwaukeerrose 117.6% against year-ago levels, to 70,300 comparedf with 32,300 in April 2008. Likewise, new unemployment compensation claima rose ata 104.
6 percent rate in Apri to 12,101, this indicator’s thirxd consecutive year-over-year increase of 100 percentf or greater. On the positive side, existingh homes sales for the metro arearose 5.6 percent in April, the firstr year-over-year increase in this indicator in seven monthw and only the second such gain in nearlhy three years.
Only three of 20 Apri l indicators registered improvementfrom year-ago matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economif Trends report. "The employment situation continued to deterioratd with deepening job declines and unemployment indicators over doublde what they were one year saidBret Mayborne, economic research director for the MMAC. "Buy metro area existing homes sales rose for only the secone time in nearly three yearsx giving some hopefor near-ter improvement in a stagnantf local housing and real estate market." Nonfarmk employment in the metroo area fell 4.8 percent in April to down from March’s 4.
3 percent Employment levels have now declined compared with year-agop levels in each of the past 12 months, with April’a decline being the steepest registered in this the MMAC said. Only two of 10 majore industry sectors registered April job gains comparecd with oneyear ago, while eight registered declines. Unemploymentg indicators for the metro area both measuredf more than twicetheirr year-earlier levels. The numbert of unemployed in metro Milwaukeerrose 117.6% against year-ago levels, to 70,300 comparedf with 32,300 in April 2008. Likewise, new unemployment compensation claima rose ata 104.
6 percent rate in Apri to 12,101, this indicator’s thirxd consecutive year-over-year increase of 100 percentf or greater. On the positive side, existingh homes sales for the metro arearose 5.6 percent in April, the firstr year-over-year increase in this indicator in seven monthw and only the second such gain in nearlhy three years.
Monday, October 10, 2011
Report: YRC Worldwide seeks $1B in TARP money - Kansas City Business Journal:
hibleyytogoja1273.blogspot.com
In a Friday story, the newspaper cite d YRC Chairman and CEO Bill Zollars as having said moneyh from the Troubled Asset Reliefr Program would help YRC withabout $2 billion in pension obligationx during the next four About half of YRC’s payments to a multiemployer union pension fund go to peoplew who never worked for the trucking company, Zollares said in the Wall Street Journal calling that unfair. The application for the fundzs could come as soon as thearticle said. A spokesman declined to comment. YRC officials couldn' be reached for comment. YRC’s stock closed on Friday at down30 cents, or 9 on volume of 6.9 million shares, according to Yaholo Finance.
The stock’s average daily volumes the past three monthsis 2.7 million shares. Overlanxd Park-based YRC (Nasdaq: YRCW) has been postinb losses as the freightrecession continued, and it integrated its To maintain liquidity, the company has been sellin real estate and cutting employee wages in retur for ownership in the company. Now, YRC seek to , using real estate as on revenueof $1.5 billion, comparefd with a loss of $46.37 million, or 82 centsw a share, in the same quarter a year earlier. YRC rankes No.
2 on the Kansas City Businesd Journal ’s list of area public
In a Friday story, the newspaper cite d YRC Chairman and CEO Bill Zollars as having said moneyh from the Troubled Asset Reliefr Program would help YRC withabout $2 billion in pension obligationx during the next four About half of YRC’s payments to a multiemployer union pension fund go to peoplew who never worked for the trucking company, Zollares said in the Wall Street Journal calling that unfair. The application for the fundzs could come as soon as thearticle said. A spokesman declined to comment. YRC officials couldn' be reached for comment. YRC’s stock closed on Friday at down30 cents, or 9 on volume of 6.9 million shares, according to Yaholo Finance.
The stock’s average daily volumes the past three monthsis 2.7 million shares. Overlanxd Park-based YRC (Nasdaq: YRCW) has been postinb losses as the freightrecession continued, and it integrated its To maintain liquidity, the company has been sellin real estate and cutting employee wages in retur for ownership in the company. Now, YRC seek to , using real estate as on revenueof $1.5 billion, comparefd with a loss of $46.37 million, or 82 centsw a share, in the same quarter a year earlier. YRC rankes No.
2 on the Kansas City Businesd Journal ’s list of area public
Saturday, October 8, 2011
ATSG builds revenues, posts loss - Business Courier of Cincinnati:
adepylex.blogspot.com
The company posted a fourth-quarter net loss of $64.2q million, or a loss of $1.0 per share, compared to net incomr of $8.4 million, or 14 centas per share, in fourth-quarter 2008. Net revenuesz grew to $430.7 million from $319.2 Much of the revenue growth camefrom ATSG’sx Cargo Holdings International business, whicnh it acquired in 2007, the company said in a news The bottom line was impactef by pretax impairment charges of $91. 2 million in the fourth quarter, for acquired goodwilkl and customer intangibles. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $68.1 million for the quarter, versuz $30.7 million in the same 2007 period.
For the full ATSG reported a net lossof $56 million, or a loss of 90 centzs per share, versus net income of $19.76 million, or 33 cents per share, in 2007. Revenuea grew to $1.6 billion from $1.2 billion. Adjuste d EBITDA was $174.5 million compared to $94.45 million the year before. “Our ability to generatw strong cash flow from our valuablre aircraft assets under multiple business modelsd isa unique, underappreciated strength of ATSG,” said Joe president and CEO, in the release. Carg firm DHL is shutting down its domestic shipping which ATSG unit ABXAir Inc. had handled.
As a the airline has shed 4,800 jobs througuh February, and closed regional hubs, reducing its package-sorting operation to one overnight shiftin Wilmington, ATSG said. More job cuts are ABX that it had modifieda $93 milliohn promissory note with DHL and had come to an agreemen t on other debt-related issues. Shares of ATSG ATSG) gained 6 to 76 cents, in Tuesday afternoon trading. Air Transport Services Group (NASDAQ: ASTG), headquarteref in Wilmington, provides cargpo airline services worldwide.
The company posted a fourth-quarter net loss of $64.2q million, or a loss of $1.0 per share, compared to net incomr of $8.4 million, or 14 centas per share, in fourth-quarter 2008. Net revenuesz grew to $430.7 million from $319.2 Much of the revenue growth camefrom ATSG’sx Cargo Holdings International business, whicnh it acquired in 2007, the company said in a news The bottom line was impactef by pretax impairment charges of $91. 2 million in the fourth quarter, for acquired goodwilkl and customer intangibles. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $68.1 million for the quarter, versuz $30.7 million in the same 2007 period.
For the full ATSG reported a net lossof $56 million, or a loss of 90 centzs per share, versus net income of $19.76 million, or 33 cents per share, in 2007. Revenuea grew to $1.6 billion from $1.2 billion. Adjuste d EBITDA was $174.5 million compared to $94.45 million the year before. “Our ability to generatw strong cash flow from our valuablre aircraft assets under multiple business modelsd isa unique, underappreciated strength of ATSG,” said Joe president and CEO, in the release. Carg firm DHL is shutting down its domestic shipping which ATSG unit ABXAir Inc. had handled.
As a the airline has shed 4,800 jobs througuh February, and closed regional hubs, reducing its package-sorting operation to one overnight shiftin Wilmington, ATSG said. More job cuts are ABX that it had modifieda $93 milliohn promissory note with DHL and had come to an agreemen t on other debt-related issues. Shares of ATSG ATSG) gained 6 to 76 cents, in Tuesday afternoon trading. Air Transport Services Group (NASDAQ: ASTG), headquarteref in Wilmington, provides cargpo airline services worldwide.
Thursday, October 6, 2011
Visalia joins discussion on President Obama's American Jobs Act - Visalia Times-Delta
http://www.punjabjustice.org/045.htm
Visalia joins discussion on President Obama's American Jobs Act Visalia Times-Delta The idea behind the discussion was about the need to work together, Jaramillo said. "The corporate world has [its] own challenges, but [it] can't abandon small business. We need corporations to keep investing in us. Not only their programs, ... |
Tuesday, October 4, 2011
Boston drivers fall in 'rage' rankings - Boston Business Journal:
tasypaju.wordpress.com
In its fourth annual In the Driver’w Seat Road Rage survey, Norwalk, Conn.-based said Bostoh fell out of the top rankings of the angriesr driversin America. In fact, Bay State drivers managed to squeak into the top 10 of the most courteouws drivers in the UnitedStates — rankecd ninth overall. AutoVantage, a national auto club, commissioned the survegy “to determine the driving habits and attitudes of commuterds across the country and to learn more about consumer views on the topic ofroad rage.” Portland took the top spot amonvg the 25 metropolitan areas surveyed, moving up from No. 2 last It was followed by Cleveland, Sacramento and Pittsburgh.
New York unseated Miami as the leasycourteous city, moving up from thirds last year to No. 1 this year, followed by Dallas/Fort Detroit, Atlanta and Minneapolis/St. Paul. The top 10 leasft courteous cities: 1. New York 2. Worth 3. Detroit 4. Atlanta 5. Minneapolis/St. Paul 6. Phoenix 7. Miami 8. Houston 9. Cincinnati 10. San Diegpo The top 10 most courteouscitiee 1. Portland 2. Cleveland 3. Baltimore 4. Sacramento 5. Pittsburgh 6. Washington DC 7. Philadelphi a (tie) 7. St. Louis (tie) 9. Bostob 10.
Seattle
In its fourth annual In the Driver’w Seat Road Rage survey, Norwalk, Conn.-based said Bostoh fell out of the top rankings of the angriesr driversin America. In fact, Bay State drivers managed to squeak into the top 10 of the most courteouws drivers in the UnitedStates — rankecd ninth overall. AutoVantage, a national auto club, commissioned the survegy “to determine the driving habits and attitudes of commuterds across the country and to learn more about consumer views on the topic ofroad rage.” Portland took the top spot amonvg the 25 metropolitan areas surveyed, moving up from No. 2 last It was followed by Cleveland, Sacramento and Pittsburgh.
New York unseated Miami as the leasycourteous city, moving up from thirds last year to No. 1 this year, followed by Dallas/Fort Detroit, Atlanta and Minneapolis/St. Paul. The top 10 leasft courteous cities: 1. New York 2. Worth 3. Detroit 4. Atlanta 5. Minneapolis/St. Paul 6. Phoenix 7. Miami 8. Houston 9. Cincinnati 10. San Diegpo The top 10 most courteouscitiee 1. Portland 2. Cleveland 3. Baltimore 4. Sacramento 5. Pittsburgh 6. Washington DC 7. Philadelphi a (tie) 7. St. Louis (tie) 9. Bostob 10.
Seattle
Sunday, October 2, 2011
Wells Fargo economists turn out rosy 2007 forecast - San Francisco Business Times:
polinaagyvtiwu.blogspot.com
"The market's recession fears are overblown," said Scott senior economist for the SanFranciscio bank. "The U.S. economy will reveal incrediblee resiliencein 2007. "The decline in home pricese hasn't yet resulted in a decreasse in consumer confidence and or a general decline of householc wealthand it's unlikely to occur (this) year," he "The housing slowdown has been offse t by strong stock market wealth, so household wealth continues to grow." The bank's economists said most of the nation's households have nevefr been better off when it comes to wealth. 's chiet investment strategist Jim Paulsen said heanticipates U.S.
economicv growth this year will clock inat 3.5 percent based on expectationw that the housing and auto markets will The bank already sees signs of recovery in the housing with mortgages to finance home purchasese (versus refinancings) up 15 percengt since the beginning of November. John CEO of . in San Mateo, echoec that observation, noting that his bank is also seeingga pick-up in purchase mortgages. "People are takinhg advantage of the weaker housing market and low mortgagwe rates to get into theBay Area'xs housing market," Conover said. But the optimisti c outlook has a downside for those countinfg on a Fed rate cutanytimde soon.
"Lowering interest rates unde r current conditions is like throwing more fuel to an already burning saidEugenio Aleman, a Wells Fargko senior economist. He also sees possibl e congressional moves to raise the minimu wage and curb immigratioh adding to concerns about thelabor market. Anderson sees highet prices ahead formost commodities. "Commodit y markets are going to gohighetr (this) year with the weaker Paulsen said. "But oil is stillk overpriced in relation toother commodities." Industry Ventures, a San Francisco-basef firm focused on acquiring venture capitak investments in the secondary raised $105 million for its fourt fund.
The firm formed two co-investment partnershipds with $15 million in committed capital. The latest fundraising is a sign of the succesws the firm has enjoyede investing in directventure portfolios, limited partnershilp interests and special-situation investments. "Thre fund is capitalized by leading institutionak limited partners in theUnited States, Europe and said Hans Swildens, principal and founder of Industrhy Ventures. The firm did not name any of theinstitutional investors. "We are seeing more tail-end opportunities in the Swildens said ofthe firm's ability to find venturde investments in the secondary market.
Industry Ventures plans to invesrt its fourth fund over four likely investing in 10 direct portfoliox and 20 partnership interests ranging in sizefrom $200,000o to $25 million each. The firm has alreadu committed $20 million of its fourtjh fund tovarious transactions. Since its foundingt in 2000, Industry Ventures has invested in more than 10 direcft portfolios and 15 limited partnership interestsd in the information technologyand health-care sectors. Past portfoliozs acquired by the firm include investmentdsfrom , , , , , and . , parentg of First National Bank of Northern brought on board Dave Curtis as its chiefffinancial officer.
Curtis succeeded Jim Ramsey, who retirefd last month from the SouthSan Francisco-baseed bank. Curtis most recently was senior vice president and controllerat , the holding compan for Merced-based , which has an officee in S.F.'s financial district. FNB said R. Albert Roensch resigned as a directord due to the demands on his time as CEO of in Palm First National Bank of Northern California hasabout $600 million in assetsw and 13 branches in San Mateo and San Franciscio counties.
"The market's recession fears are overblown," said Scott senior economist for the SanFranciscio bank. "The U.S. economy will reveal incrediblee resiliencein 2007. "The decline in home pricese hasn't yet resulted in a decreasse in consumer confidence and or a general decline of householc wealthand it's unlikely to occur (this) year," he "The housing slowdown has been offse t by strong stock market wealth, so household wealth continues to grow." The bank's economists said most of the nation's households have nevefr been better off when it comes to wealth. 's chiet investment strategist Jim Paulsen said heanticipates U.S.
economicv growth this year will clock inat 3.5 percent based on expectationw that the housing and auto markets will The bank already sees signs of recovery in the housing with mortgages to finance home purchasese (versus refinancings) up 15 percengt since the beginning of November. John CEO of . in San Mateo, echoec that observation, noting that his bank is also seeingga pick-up in purchase mortgages. "People are takinhg advantage of the weaker housing market and low mortgagwe rates to get into theBay Area'xs housing market," Conover said. But the optimisti c outlook has a downside for those countinfg on a Fed rate cutanytimde soon.
"Lowering interest rates unde r current conditions is like throwing more fuel to an already burning saidEugenio Aleman, a Wells Fargko senior economist. He also sees possibl e congressional moves to raise the minimu wage and curb immigratioh adding to concerns about thelabor market. Anderson sees highet prices ahead formost commodities. "Commodit y markets are going to gohighetr (this) year with the weaker Paulsen said. "But oil is stillk overpriced in relation toother commodities." Industry Ventures, a San Francisco-basef firm focused on acquiring venture capitak investments in the secondary raised $105 million for its fourt fund.
The firm formed two co-investment partnershipds with $15 million in committed capital. The latest fundraising is a sign of the succesws the firm has enjoyede investing in directventure portfolios, limited partnershilp interests and special-situation investments. "Thre fund is capitalized by leading institutionak limited partners in theUnited States, Europe and said Hans Swildens, principal and founder of Industrhy Ventures. The firm did not name any of theinstitutional investors. "We are seeing more tail-end opportunities in the Swildens said ofthe firm's ability to find venturde investments in the secondary market.
Industry Ventures plans to invesrt its fourth fund over four likely investing in 10 direct portfoliox and 20 partnership interests ranging in sizefrom $200,000o to $25 million each. The firm has alreadu committed $20 million of its fourtjh fund tovarious transactions. Since its foundingt in 2000, Industry Ventures has invested in more than 10 direcft portfolios and 15 limited partnership interestsd in the information technologyand health-care sectors. Past portfoliozs acquired by the firm include investmentdsfrom , , , , , and . , parentg of First National Bank of Northern brought on board Dave Curtis as its chiefffinancial officer.
Curtis succeeded Jim Ramsey, who retirefd last month from the SouthSan Francisco-baseed bank. Curtis most recently was senior vice president and controllerat , the holding compan for Merced-based , which has an officee in S.F.'s financial district. FNB said R. Albert Roensch resigned as a directord due to the demands on his time as CEO of in Palm First National Bank of Northern California hasabout $600 million in assetsw and 13 branches in San Mateo and San Franciscio counties.
Friday, September 30, 2011
Bluegreen Corporation's Outdoor Traveler Explorer Guide Wins National Benny ... - PR Web (press release)
jabire2389.blogspot.com
Bluegreen Corporation's Outdoor Traveler Explorer Guide Wins National Benny ... PR Web (press release) Bluegreen Corporation (NYSE: BXG), a leading provider of Colorful Places to Live and Play, today announced that its Outdoor Traveler Explorer Guide print project has been awarded the coveted “Benny†award from the Printing Industries of America's ... |
Tuesday, September 27, 2011
Liquidia hires another Johnson & Johnson executive - Houston Business Journal:
paramonaxogilozi.blogspot.com
In his new role, Templeman oversees the manufacturinhg unit for the ResearchTriangle Park-based nanotechnolog company. Liquidia Technologies Inc. designs, develops, and manufactures preciselu engineered particles and films for a variety of life and materialsscience applications. Templeman brings to Liquidia a diverse array of clinicalp and commercialmanufacturing experience. He also has extensive knowledgs in regulatory compliance and shares our passion for bringing safer and more effectivre therapiesto market,” Fowler said in a Liquidia, founded in employs 50 people in two sites in RTP.
In his new role, Templeman oversees the manufacturinhg unit for the ResearchTriangle Park-based nanotechnolog company. Liquidia Technologies Inc. designs, develops, and manufactures preciselu engineered particles and films for a variety of life and materialsscience applications. Templeman brings to Liquidia a diverse array of clinicalp and commercialmanufacturing experience. He also has extensive knowledgs in regulatory compliance and shares our passion for bringing safer and more effectivre therapiesto market,” Fowler said in a Liquidia, founded in employs 50 people in two sites in RTP.
Sunday, September 25, 2011
High natural gas prices ignite hotel surcharges - Dayton Business Journal:
ejyceh.wordpress.com
Either through a surcharge or increasedcroom rates, hotels across the countryh are charging guests an extraz few dollars per night to compensatr for outrageous natural gas Locally, at least two hotel s are charging the energy fee. Ron Monte, generalk manager of Holiday Inn Dayton sayshis 195-rooom hotel started addiny a flat $2.50-per-night surcharge to its guest bills back in March. Miamisburg's Signature Inn, with 125 began tacking a $3-per-night surcharge onto guesy checks twomonths ago. It's a necessaru evil in the hospitality business this Monte says. But his staff tellw guests about the fee up front andthey don'ty seem too bothered by it.
"We have it posted at the fronr desk; (we tell them) when they call for It's not a hidde n charge at all," he While many Marriotts across the countryuare surcharging, local Marriotts are not, said John general manager of the 399-room Dayton Marriott Hotel on Southg Patterson Boulevard. Dayton Marriott's energy bills have shot throughgthe roof, Buntemeyer says. The hotel has paid $40,000 more for natural gas so far this year than for the same periodclast year. But his hotek still didn't meet the company's litmus which calculate the extra cost of energy per occupiede room to determine whether or not to pass the increasee alongto customers.
Jeff Baumgartner, generao manager of the Crowne Plaza in downtown says his hotel has paid about 50 percenr more for natural gas so far this year than it had by this time last But it decided to adjust room rates to accommodatre theincrease -- something hotels do when any expense goes up. "We felt it wasn't to tack on a Baumgartner says. The new general manager of downtowb Dayton's DoubleTree Guest Suites Hotel says gas pricex have put a drain onhis too. The 137-room hotel paid a $26,0009 gas bill in May, $10,00 0 higher than the May 2000 bill, Bob Holstebn says.
But like Crowne, DoubleTrew has decided to recoup the cost througj slightly increased room rates rather than through anactuakl surcharge. Statewide, it's not clear how many hotel s are usingthe charge. The Ohio Hotel and Lodging Associationj doesn't track it because it wants to stay saysBart Hacker, associatio public affairs director. "We neitherr endorse it nor condon it," he says. "We've just made sure to let all the hotelx know that if the energy surcharges are put in that everybody's got (to adequate notice." Slipping such charges onto bills withoutf warning has reportedly gotten some hotelw in California in hot water.
Localk hoteliers say they've been spooked by a class-cation lawsuitf filed in May in SanFranciscok County. The suit targeted such big-name chains as Hilton and Starwood for not disclosingv the surcharge to guests at Monte says he hopes to quit charging the fee this But as fickle as the energymarket is, who knowse whether natural gas prices will allow for that. "If you can figurer that out," Buntemeyer "you and I, we'll go to Wall Street and we'll quit our phony balonety jobs and make a lotof
Either through a surcharge or increasedcroom rates, hotels across the countryh are charging guests an extraz few dollars per night to compensatr for outrageous natural gas Locally, at least two hotel s are charging the energy fee. Ron Monte, generalk manager of Holiday Inn Dayton sayshis 195-rooom hotel started addiny a flat $2.50-per-night surcharge to its guest bills back in March. Miamisburg's Signature Inn, with 125 began tacking a $3-per-night surcharge onto guesy checks twomonths ago. It's a necessaru evil in the hospitality business this Monte says. But his staff tellw guests about the fee up front andthey don'ty seem too bothered by it.
"We have it posted at the fronr desk; (we tell them) when they call for It's not a hidde n charge at all," he While many Marriotts across the countryuare surcharging, local Marriotts are not, said John general manager of the 399-room Dayton Marriott Hotel on Southg Patterson Boulevard. Dayton Marriott's energy bills have shot throughgthe roof, Buntemeyer says. The hotel has paid $40,000 more for natural gas so far this year than for the same periodclast year. But his hotek still didn't meet the company's litmus which calculate the extra cost of energy per occupiede room to determine whether or not to pass the increasee alongto customers.
Jeff Baumgartner, generao manager of the Crowne Plaza in downtown says his hotel has paid about 50 percenr more for natural gas so far this year than it had by this time last But it decided to adjust room rates to accommodatre theincrease -- something hotels do when any expense goes up. "We felt it wasn't to tack on a Baumgartner says. The new general manager of downtowb Dayton's DoubleTree Guest Suites Hotel says gas pricex have put a drain onhis too. The 137-room hotel paid a $26,0009 gas bill in May, $10,00 0 higher than the May 2000 bill, Bob Holstebn says.
But like Crowne, DoubleTrew has decided to recoup the cost througj slightly increased room rates rather than through anactuakl surcharge. Statewide, it's not clear how many hotel s are usingthe charge. The Ohio Hotel and Lodging Associationj doesn't track it because it wants to stay saysBart Hacker, associatio public affairs director. "We neitherr endorse it nor condon it," he says. "We've just made sure to let all the hotelx know that if the energy surcharges are put in that everybody's got (to adequate notice." Slipping such charges onto bills withoutf warning has reportedly gotten some hotelw in California in hot water.
Localk hoteliers say they've been spooked by a class-cation lawsuitf filed in May in SanFranciscok County. The suit targeted such big-name chains as Hilton and Starwood for not disclosingv the surcharge to guests at Monte says he hopes to quit charging the fee this But as fickle as the energymarket is, who knowse whether natural gas prices will allow for that. "If you can figurer that out," Buntemeyer "you and I, we'll go to Wall Street and we'll quit our phony balonety jobs and make a lotof
Friday, September 23, 2011
City center retailers holding their own despite economic downturn - Birmingham Business Journal:
lebexab.wordpress.com
“On Mondays, we have out-of-towners looking to kill time before they leavre after aweekend conference,” she “On Saturday, we get a random mix of Kendrick, who operates a fair trade shop, is amontg a growing list of merchants breathing new life into the centrall business district’s retail scene. But despite some new times have clearly changed frompast decades, when downtownse were the dominant retail destination. “Most downtowns, includingh Birmingham, aren’t trying to recreate or resurrectt their downtowns as the great shoppinyg mecca of the 1950sand 1960s,” said Fran senior vice president of Operation New Birmingham.
With most “big box” department storesw leaving for suburbia, that would be next to Instead, Birmingham is looking to attracg service-oriented workers to the city center in ordetr to meet the needs of the people who live andwork downtown. While some retailers, such as , have left the city centerf inrecent years, downtowh leaders say there is a strony market in the area for retailers who want to locatse there.
ONB Vice President of Communications Robert Emerick said therw areapproximately 80,000 people who work in the city with 35,000 in the downtown “That’s a significant market, and successful retailers who succee d will be the ones providing goods and services for thosw people,” he said. Emerick admits the recent touggh economic times have takentheir toll, but not with dire “The recession has hit downtown just like it has everywherer else, but retailers here seem to be weathering the especially restaurants,” Emerick said.
Sevebn new restaurants have recently opened or are planning to open soon in the includingLa Gabriella’s, Rogue Tavern, and a rooftop bar at Redmonr Hotel. Emerick said new retail in the area is more likely to be gearedc toward serving the people who live and work in the rather than trying to lure consumers back from the suburbabn shoppinghot spots. That means that luriny a major grocery store is a priority for thecity “There’s certainly a chicken and egg componenf to the residential/retail Emerick said.
“Publix and considefr residential density a critical element in deciding where to build new With the addition of several loft projectws inthe mid-2000s, Emerick said the city center reacherd the critical population mass necessary to support a grocerg store, and that is something ONB considers a majotr priority. “One of the questions most askedis ‘When are we gointg to have a grocery store downtown?’” he said.
Main Streey Birmingham Executive Director Davidc Fleming said the overall health of retaik in the district depends on the typeof “Places like coffee shops and galleries that appeal to an urbanm dweller or worker are doing well,” he “The kind of retail you find in a typical shopping center or mall are still hesitant to as evidenced by the recent closing of We need more unique stores you can’tf get any other Local commercial real estate brokers say additionak entertainment options downtown could help create a bettefr retail base outside of work “There is a good base of daytime workers in the but that limits the retailers to traffi Monday through Friday from 8-5,” said Dean Nix, seniot vice president of Nix said existing options, such as the , and plannef developments, including Railroad Reservation Park, will help along those lines.
“Givinf people green space will offer them the opportunityu to come downtown when they would otherwise neverr have a reasonto visit,” he Jason Bajalieh, owner of the recentl y opened , says transportation and parkinf issues can’t be overlooked in the “We need to be able to move peoplew in and out of downtown much fastert than getting into theifr own vehicle to drive a few Also, we need more communication a journal or weekly paper of some sort, for the employeese and business owners Moving forward, Main Streetg Birmingham’s Fleming said Birmingham shouldc take advantage of some of its existing assets including its history.
“People will be drawn here for the sensd of place and history and character thatyou can’t find in new strip malls and big parking lots,” he said. “We will not make a betted Birmingham by tearing itall down.”
“On Mondays, we have out-of-towners looking to kill time before they leavre after aweekend conference,” she “On Saturday, we get a random mix of Kendrick, who operates a fair trade shop, is amontg a growing list of merchants breathing new life into the centrall business district’s retail scene. But despite some new times have clearly changed frompast decades, when downtownse were the dominant retail destination. “Most downtowns, includingh Birmingham, aren’t trying to recreate or resurrectt their downtowns as the great shoppinyg mecca of the 1950sand 1960s,” said Fran senior vice president of Operation New Birmingham.
With most “big box” department storesw leaving for suburbia, that would be next to Instead, Birmingham is looking to attracg service-oriented workers to the city center in ordetr to meet the needs of the people who live andwork downtown. While some retailers, such as , have left the city centerf inrecent years, downtowh leaders say there is a strony market in the area for retailers who want to locatse there.
ONB Vice President of Communications Robert Emerick said therw areapproximately 80,000 people who work in the city with 35,000 in the downtown “That’s a significant market, and successful retailers who succee d will be the ones providing goods and services for thosw people,” he said. Emerick admits the recent touggh economic times have takentheir toll, but not with dire “The recession has hit downtown just like it has everywherer else, but retailers here seem to be weathering the especially restaurants,” Emerick said.
Sevebn new restaurants have recently opened or are planning to open soon in the includingLa Gabriella’s, Rogue Tavern, and a rooftop bar at Redmonr Hotel. Emerick said new retail in the area is more likely to be gearedc toward serving the people who live and work in the rather than trying to lure consumers back from the suburbabn shoppinghot spots. That means that luriny a major grocery store is a priority for thecity “There’s certainly a chicken and egg componenf to the residential/retail Emerick said.
“Publix and considefr residential density a critical element in deciding where to build new With the addition of several loft projectws inthe mid-2000s, Emerick said the city center reacherd the critical population mass necessary to support a grocerg store, and that is something ONB considers a majotr priority. “One of the questions most askedis ‘When are we gointg to have a grocery store downtown?’” he said.
Main Streey Birmingham Executive Director Davidc Fleming said the overall health of retaik in the district depends on the typeof “Places like coffee shops and galleries that appeal to an urbanm dweller or worker are doing well,” he “The kind of retail you find in a typical shopping center or mall are still hesitant to as evidenced by the recent closing of We need more unique stores you can’tf get any other Local commercial real estate brokers say additionak entertainment options downtown could help create a bettefr retail base outside of work “There is a good base of daytime workers in the but that limits the retailers to traffi Monday through Friday from 8-5,” said Dean Nix, seniot vice president of Nix said existing options, such as the , and plannef developments, including Railroad Reservation Park, will help along those lines.
“Givinf people green space will offer them the opportunityu to come downtown when they would otherwise neverr have a reasonto visit,” he Jason Bajalieh, owner of the recentl y opened , says transportation and parkinf issues can’t be overlooked in the “We need to be able to move peoplew in and out of downtown much fastert than getting into theifr own vehicle to drive a few Also, we need more communication a journal or weekly paper of some sort, for the employeese and business owners Moving forward, Main Streetg Birmingham’s Fleming said Birmingham shouldc take advantage of some of its existing assets including its history.
“People will be drawn here for the sensd of place and history and character thatyou can’t find in new strip malls and big parking lots,” he said. “We will not make a betted Birmingham by tearing itall down.”
Wednesday, September 21, 2011
Southwest pilots turn down contract offer - Dallas Business Journal:
dyakonostrlin.blogspot.com
The union, which represents Dallas-based Southwest’s (NYSE: LUV) 5,90o0 pilots, said 51 percent of pilots voterd against the contract with 95 perceng of the union participating inthe vote. The pilotss union and Southwest have been negotiatinvg the new contract sinceSeptember 2006. "Oufr pilots have spoken, and the group has statefd there is more work to be said Capt. Carl Kuwitzky, President of the Southwesy Airlines Pilots' Association (SWAPA). "Thiws contract, despite some financial contained too many other negativwe aspects toratify it.
" The pilots' unioj was not specific about member objections to the contract, but said the associatiobn will poll its members to determined what elements require further discussion with the company. In a statemenf issued Wednesday, Chuck Magill, vice presidenft of flight operations at SouthwestAirlinex said: "We are naturally disappointed and acknowledge it was a very close vote. We reached a tentatives agreement ingood faith, and both sides put a lot of effort into getting to this point. We have an outstandinh and highly productive groupof pilots, and we appreciate their active involvement in the voting process.
We welcomde the opportunity for our negotiating teamsto re-engagre and work toward an agreement that best meetws the needs of our company and our outstandint pilots during these challenging economic times.”
The union, which represents Dallas-based Southwest’s (NYSE: LUV) 5,90o0 pilots, said 51 percent of pilots voterd against the contract with 95 perceng of the union participating inthe vote. The pilotss union and Southwest have been negotiatinvg the new contract sinceSeptember 2006. "Oufr pilots have spoken, and the group has statefd there is more work to be said Capt. Carl Kuwitzky, President of the Southwesy Airlines Pilots' Association (SWAPA). "Thiws contract, despite some financial contained too many other negativwe aspects toratify it.
" The pilots' unioj was not specific about member objections to the contract, but said the associatiobn will poll its members to determined what elements require further discussion with the company. In a statemenf issued Wednesday, Chuck Magill, vice presidenft of flight operations at SouthwestAirlinex said: "We are naturally disappointed and acknowledge it was a very close vote. We reached a tentatives agreement ingood faith, and both sides put a lot of effort into getting to this point. We have an outstandinh and highly productive groupof pilots, and we appreciate their active involvement in the voting process.
We welcomde the opportunity for our negotiating teamsto re-engagre and work toward an agreement that best meetws the needs of our company and our outstandint pilots during these challenging economic times.”
Monday, September 19, 2011
Franklin Credit hitting the streets to urge mortgage paybacks - Business First of Columbus:
zolinstanixes.blogspot.com
, which services a battered portfolii of morethan $1.6 billion in mortgage loands for Huntington, hopes that goingy door to door to borrowers’ homeds will improve the recordd of repayments over trying to contact them by said CEO Gordon Jardin. “A lot of times peoplew are not home, and a lot of time they’rs able to pick up but just don’rt want to,” he said. “If they’re not goinvg to pick up their phone, then we’llp try to meet them where they live and have a TheJersey City, N.J.
-based company’w collection efforts are important becauswe further loan losses could again sting the bank if borrowera aren’t pressed to continue paying, said Jeff director of research at the Chicagok investment bank Huntington already has written down the value of the portfolio to about $494 “I would assume that Huntingto n is working as hard as possibles to maximize the realizable value (of the loans),” Davis said. “These types of borrowerss can’t get left too far behinsd or youlose them.” The effortf by Franklin marks another chapter in its rockgy relationship with Huntington, which inherited the Franklin account when it acquireds in 2007.
The deal broughyt Huntington $1.5 billion in mortgage-backed commercial loanx that Sky had madeto Franklin, a subprime lender and servicer. Soon after the Sky deal it became clear the mortgage collatera l was deteriorating in value as borrowers increasinglyhmissed payments, forcing Huntington to write down the valu e of its commercial loans. The bank in Marcjh finally seized thecollateral outright, assigninfg it a value of about $494 million even thougn the principal owed by borrowers was more than $1.
6 The door-to-door initiative, whichh includes about 300 Franklin representatives, couldx boost collection levels, but it is a grim sign of how difficulty it can be to collect on loand made to risky borrowers, Davis said. “jI would tell you that it speaks volumes about how bad the situation is at Frankli n Credit and how that credit came tothreatemn Huntington,” he said. “It’s just unfortunate. It really is a disaster.” the Franklin writedowns have cost Huntington hundreds of millionse of dollars in the past two miring the conservatively run bank in a subprimse mess that has plaguer other institutions better known fortaking risks.
Davis is confiden Franklin Credit Management will bring inthe $494 million Huntingtohn expects to get out of the portfoliop – and maybe more. “Could they realize something modestluabove that, say 10 percent or 15 perceny more? Sure, depending on how aggressivelhy they wrote it down,” he Huntington executives do not comment on the activities of othe r companies, said bank spokeswomann Maureen Brown.
Huntington CEO Stephen Steinour said in a Marcgh interview with Columbus Business First that taking ownership of the mortgagee collateral allowed Huntington to call the shots on how to deal withthe “We believe that we will maximize for the foreseeable futurde the realizable value of the portfolio in ways Franklin including offering refinancing under more affordable terms for Steinour said. But borrowers must be contacted befors they can be and that’s the aim of the door-to-door Jardin said. Representatives showing up on doorsteps aren’t there to make collections or evaluatwe a borrower’s ability to repay.
Rather, theie job is to inform borrowers of loan workouyt options and the importance of keepingtin touch, Jardin said. “We say, we’re in the same position you areas borrowers. We’rde struggling to pay our debts, and this is our time now to work with you asa ” Jardin said. Franklin estimates 75 percentg of the troubled borrowers it reaches are eligible forloan workouts, Jardin but it typically only makes contact with about 10 percenty of those problem borrowers. He’s hopeful the door-to-door effortf will increase Franklin’s contact to 30 percent to 40 percent oftroubledd borrowers.
“Over time, we’re hopinvg we see better numbers,” he said. “Bu the secret is in how many borrowers wecan reach.”
, which services a battered portfolii of morethan $1.6 billion in mortgage loands for Huntington, hopes that goingy door to door to borrowers’ homeds will improve the recordd of repayments over trying to contact them by said CEO Gordon Jardin. “A lot of times peoplew are not home, and a lot of time they’rs able to pick up but just don’rt want to,” he said. “If they’re not goinvg to pick up their phone, then we’llp try to meet them where they live and have a TheJersey City, N.J.
-based company’w collection efforts are important becauswe further loan losses could again sting the bank if borrowera aren’t pressed to continue paying, said Jeff director of research at the Chicagok investment bank Huntington already has written down the value of the portfolio to about $494 “I would assume that Huntingto n is working as hard as possibles to maximize the realizable value (of the loans),” Davis said. “These types of borrowerss can’t get left too far behinsd or youlose them.” The effortf by Franklin marks another chapter in its rockgy relationship with Huntington, which inherited the Franklin account when it acquireds in 2007.
The deal broughyt Huntington $1.5 billion in mortgage-backed commercial loanx that Sky had madeto Franklin, a subprime lender and servicer. Soon after the Sky deal it became clear the mortgage collatera l was deteriorating in value as borrowers increasinglyhmissed payments, forcing Huntington to write down the valu e of its commercial loans. The bank in Marcjh finally seized thecollateral outright, assigninfg it a value of about $494 million even thougn the principal owed by borrowers was more than $1.
6 The door-to-door initiative, whichh includes about 300 Franklin representatives, couldx boost collection levels, but it is a grim sign of how difficulty it can be to collect on loand made to risky borrowers, Davis said. “jI would tell you that it speaks volumes about how bad the situation is at Frankli n Credit and how that credit came tothreatemn Huntington,” he said. “It’s just unfortunate. It really is a disaster.” the Franklin writedowns have cost Huntington hundreds of millionse of dollars in the past two miring the conservatively run bank in a subprimse mess that has plaguer other institutions better known fortaking risks.
Davis is confiden Franklin Credit Management will bring inthe $494 million Huntingtohn expects to get out of the portfoliop – and maybe more. “Could they realize something modestluabove that, say 10 percent or 15 perceny more? Sure, depending on how aggressivelhy they wrote it down,” he Huntington executives do not comment on the activities of othe r companies, said bank spokeswomann Maureen Brown.
Huntington CEO Stephen Steinour said in a Marcgh interview with Columbus Business First that taking ownership of the mortgagee collateral allowed Huntington to call the shots on how to deal withthe “We believe that we will maximize for the foreseeable futurde the realizable value of the portfolio in ways Franklin including offering refinancing under more affordable terms for Steinour said. But borrowers must be contacted befors they can be and that’s the aim of the door-to-door Jardin said. Representatives showing up on doorsteps aren’t there to make collections or evaluatwe a borrower’s ability to repay.
Rather, theie job is to inform borrowers of loan workouyt options and the importance of keepingtin touch, Jardin said. “We say, we’re in the same position you areas borrowers. We’rde struggling to pay our debts, and this is our time now to work with you asa ” Jardin said. Franklin estimates 75 percentg of the troubled borrowers it reaches are eligible forloan workouts, Jardin but it typically only makes contact with about 10 percenty of those problem borrowers. He’s hopeful the door-to-door effortf will increase Franklin’s contact to 30 percent to 40 percent oftroubledd borrowers.
“Over time, we’re hopinvg we see better numbers,” he said. “Bu the secret is in how many borrowers wecan reach.”
Saturday, September 17, 2011
Bing booms but far behind Google, Yahoo - Phoenix Business Journal:
qozito.wordpress.com
Industry tracker pegged Bing's weekly growth rate at 25 percent in givingit 5.25 percent of the U.S. That is barely visibled in the rear view mirror of searchgianft 's (NASDAQ:GOOG) 74 percent market share, however. is No. 2 with 16 percent of the Microsoft (NASDAQ:MSFT) launched a $100 milliob campaign to take on Google and Yaholo inlate May. Google's search dominance has helped it grow revenue ata double-digift pace, although analysts believe that next week's earningzs from the company will show that slowedf in the most recent quarter.
Mark Mahaney of said this week that he expectse Google to post 14 percent growth in advertising for the quartere compared to 20 percent in thepreviousx year. Mahaney wrote that studies show Google is still ina "veryh strong position" regarding the relevancw of its search results, far ahead of its new He said those studies have show Bing beating Yahoo by that measure, but he will be watchingv data over the next thred to four months before making a definitive call on that.
Industry tracker pegged Bing's weekly growth rate at 25 percent in givingit 5.25 percent of the U.S. That is barely visibled in the rear view mirror of searchgianft 's (NASDAQ:GOOG) 74 percent market share, however. is No. 2 with 16 percent of the Microsoft (NASDAQ:MSFT) launched a $100 milliob campaign to take on Google and Yaholo inlate May. Google's search dominance has helped it grow revenue ata double-digift pace, although analysts believe that next week's earningzs from the company will show that slowedf in the most recent quarter.
Mark Mahaney of said this week that he expectse Google to post 14 percent growth in advertising for the quartere compared to 20 percent in thepreviousx year. Mahaney wrote that studies show Google is still ina "veryh strong position" regarding the relevancw of its search results, far ahead of its new He said those studies have show Bing beating Yahoo by that measure, but he will be watchingv data over the next thred to four months before making a definitive call on that.
Thursday, September 15, 2011
Chinese company to buy Hummer - Triangle Business Journal:
ihituvofy.wordpress.com
When GM, which filed for bankruptcy protectiom Monday, announced earlier Tuesday that a buyee had been found forthe off-road vehiclee line, the name was not immediateluy disclosed. Tengzhong, a major industriak machinery group, will acquire the rights to theHummeer brand, along with a senior management and operationaol team. It will also assume existing dealer agreementd relatingto HUMMER’s dealership network. It is contemplatedx that Tengzhong will, as part of the transaction, enter into a long-term contract assembly and key component and material supply agreemenytwith GM.
In an earlier statement, GM said it expectsd the deal if successful to secure morethan 3,000 US The final terms of the deal, scheduled to closer in the third quarter, are subject to final negotiations. The cost of the transactionj wasnot revealed. is acting as exclusive financial advisor and is acting as international legal counsel to Tengzhong onthis transaction. Citi is actinyg as financial advisorto GM.
When GM, which filed for bankruptcy protectiom Monday, announced earlier Tuesday that a buyee had been found forthe off-road vehiclee line, the name was not immediateluy disclosed. Tengzhong, a major industriak machinery group, will acquire the rights to theHummeer brand, along with a senior management and operationaol team. It will also assume existing dealer agreementd relatingto HUMMER’s dealership network. It is contemplatedx that Tengzhong will, as part of the transaction, enter into a long-term contract assembly and key component and material supply agreemenytwith GM.
In an earlier statement, GM said it expectsd the deal if successful to secure morethan 3,000 US The final terms of the deal, scheduled to closer in the third quarter, are subject to final negotiations. The cost of the transactionj wasnot revealed. is acting as exclusive financial advisor and is acting as international legal counsel to Tengzhong onthis transaction. Citi is actinyg as financial advisorto GM.
Monday, September 12, 2011
Tourism group honors best of tourism promos - Nashville Business Journal:
obesonuqa.wordpress.com
The Tourism Industry AssociationRecognition Awards, or TIARAs Awards, highlight excellence and creative accomplishment in travel marketint and promotion. The Farmington Convention and Visitors which hosted the TANM took home the awardfor . The villag of Chama won an honorabls mention for itsvisitors guide. The best went to the Chocolat e TurtleBed & Breakfast in Buffalo Thunder Resort Casino received honorable mention. Buffalo Thunder took top honorx for best print advertising and for outstanding new event for its grand openinglast year. The Rio Rancho Conventionj and Visitor’s Bureau “Pork & was named top outstanding recurring event.
Roswell’zs UFO Festival earned an honorable mention in that The most innovative promotion award went to the Albuquerquse Convention and Visitors BureauHolidag Video, “Life of a Brown Paper The award for most successful publifc relations effort was divided into threse categories. Bishop’s Lodge Ranch Resort & Spa won the private sector category for its 90th anniversary The Albuquerque Convention and Visitors Bureau earned top kudos forits , with the town of Taos takingh honorable mention for its annual public relations And the top award for press tours went to the state’e North Central Tourism Region. More information is available at TANM's .
Next year’x Governor’s Conference on Tourism, co-sponsored by TANM and the New MexicolTourism Department, will be at Buffalo Thundert Resort & Casino in Santza Fe, April 19-21.
The Tourism Industry AssociationRecognition Awards, or TIARAs Awards, highlight excellence and creative accomplishment in travel marketint and promotion. The Farmington Convention and Visitors which hosted the TANM took home the awardfor . The villag of Chama won an honorabls mention for itsvisitors guide. The best went to the Chocolat e TurtleBed & Breakfast in Buffalo Thunder Resort Casino received honorable mention. Buffalo Thunder took top honorx for best print advertising and for outstanding new event for its grand openinglast year. The Rio Rancho Conventionj and Visitor’s Bureau “Pork & was named top outstanding recurring event.
Roswell’zs UFO Festival earned an honorable mention in that The most innovative promotion award went to the Albuquerquse Convention and Visitors BureauHolidag Video, “Life of a Brown Paper The award for most successful publifc relations effort was divided into threse categories. Bishop’s Lodge Ranch Resort & Spa won the private sector category for its 90th anniversary The Albuquerque Convention and Visitors Bureau earned top kudos forits , with the town of Taos takingh honorable mention for its annual public relations And the top award for press tours went to the state’e North Central Tourism Region. More information is available at TANM's .
Next year’x Governor’s Conference on Tourism, co-sponsored by TANM and the New MexicolTourism Department, will be at Buffalo Thundert Resort & Casino in Santza Fe, April 19-21.
Saturday, September 10, 2011
Text-Fitch affirms Deutsche Bank Securities COMM 2010-C1 - Reuters
lydiryl.wordpress.com
Text-Fitch affirms Deutsche Bank Securities COMM 2010-C1 Reuters DE) Securities COMM 2010-C1 commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this release. The affirmations are due to stable performance of the collateral and sufficient credit enhancement to the ... Fitch Affirms Deutsche Bank Securities COMM 2010-C1 Fitch Affirms Deutsche Bank Securities COMM 2010-C1 |
Thursday, September 8, 2011
Bemis to buy Alcan Packaging Americas unit - Triangle Business Journal:
showarticle-cultura.blogspot.com
billion. Neenah-based Bemis, a manufacturer of flexibl packaging and pressure sensitive materialsfor food, consumefr products and other companies, said it is buyinbg the Food Americas operations of Alcan from plc, an international mininvg company. Bemis will acquire 23 Food Americasz flexible packaging facilities in theUnited Canada, Mexico, Brazil, Argentina, and New The transaction includes Alcan facilities in Neenah, Menashsa and Boscobel, according to a Bemiz spokeswoman. The 23 facilities produce flexible packaginhg for the food and beverage industries and emplogyabout 4,600 workers. For the year endecd Dec. 31, 2008, Chicago-base Alcan Packaging Food Americaw recorded net salesof $1.
5 billioj and adjusted earnings befored expenses of approximately $166 "Both Bemis and Alca Packaging have strong, collaborative relationships with renowned food and consumerf products customers," said Henry Bemis president and CEO. "We each have a long historgy of dedication to outstanding quality andmanufacturingv excellence. In pooling our we will diversify our existing technologiew and product lines which will broaden our producyt offering and augment our technical The transaction willboost Bemis’s annual net sales 40 percent to approximately $5.3 billion, with approximately 70 percent, up from 57 of total Bemis net sales comin from resilient food packaging.
The addition of Alcan'sw employees will increase the company's global work force to more than 20,000o employees at 84 manufacturing locations worldwide. Bemis expects to achieves morethan $65 million in annual cost savings by the end of the secondd year. Management intends to fund the purchase price with a combinationof $1 billion in debt and $200 million in equity. and are acting as financiapl advisers to Bemis for this while LLP is acting as primary legak adviserto Bemis.
billion. Neenah-based Bemis, a manufacturer of flexibl packaging and pressure sensitive materialsfor food, consumefr products and other companies, said it is buyinbg the Food Americas operations of Alcan from plc, an international mininvg company. Bemis will acquire 23 Food Americasz flexible packaging facilities in theUnited Canada, Mexico, Brazil, Argentina, and New The transaction includes Alcan facilities in Neenah, Menashsa and Boscobel, according to a Bemiz spokeswoman. The 23 facilities produce flexible packaginhg for the food and beverage industries and emplogyabout 4,600 workers. For the year endecd Dec. 31, 2008, Chicago-base Alcan Packaging Food Americaw recorded net salesof $1.
5 billioj and adjusted earnings befored expenses of approximately $166 "Both Bemis and Alca Packaging have strong, collaborative relationships with renowned food and consumerf products customers," said Henry Bemis president and CEO. "We each have a long historgy of dedication to outstanding quality andmanufacturingv excellence. In pooling our we will diversify our existing technologiew and product lines which will broaden our producyt offering and augment our technical The transaction willboost Bemis’s annual net sales 40 percent to approximately $5.3 billion, with approximately 70 percent, up from 57 of total Bemis net sales comin from resilient food packaging.
The addition of Alcan'sw employees will increase the company's global work force to more than 20,000o employees at 84 manufacturing locations worldwide. Bemis expects to achieves morethan $65 million in annual cost savings by the end of the secondd year. Management intends to fund the purchase price with a combinationof $1 billion in debt and $200 million in equity. and are acting as financiapl advisers to Bemis for this while LLP is acting as primary legak adviserto Bemis.
Tuesday, September 6, 2011
Josh Kraft: Someone to look up to - Boston Business Journal:
grigoriynirim.blogspot.com
From across the room, a teenager walks over and says yet saysit all, as he and Kraft launchj into a complicated series of handshakesw that might confuse someone who is not from the “How’s your sister?” asks 41, their clasped hands dance throughu the greeting. “Are you stilol working?” Moments later Kraft rallies a group to take a picturrwith him. Craig, Justin, Hank, Alex he calls them by name as they crowcdaround him, excited. “Josh has a million-dollat smile,” says Melvin, 15, joking with Kraft as he watcheefrom nearby.
Son of Patriot’s Chairman and CEO Roberrt Kraft and an heir to the KraftGroupp fortunes, Josh Kraft’s upbringing was starkly different than thos e of the youth he was with that afternoojn in the in Chelsea. In the late Kraft traded silver-spoon comforts for passion and streetsavvhy that, inside the Club, have earned him both popularithy and respect. In July, who had been the executivs director of the Jordan Club since was named the Nicholas President and CEO of theparenr organization, Boys & Girls Clubs of taking over from Linda Whitlock, who stepped down.
His new role make s Kraft the rare nonprofit leader whose raw enthusiasm forthe organization’se mission comes from so many years spent at its grassrootsz level. “They think he’s nobody working at the Boys and Girlsa Club in the projects andnow he’s runningb all the Boys and Girls says Melvin. “He’s someone to look up “Am I surprised about wherw Joshis now? Absolutely not,” says Bob Monahan, directotr of operations at Julie’s Family Learnint Program in South Boston. Monahan was executive director of the when he firstmet Kraft. “Josh has the (whole) package: youthh development skills, relationship skills, fundraising skills.
He came to the Boys Girls Clubs with some of but he learned a lot of it alongbthe way.” As Kraft took the reinss this summer, the organization was completing a $100 millionn fundraising campaign — leaving it stable but with an like every other nonprofit, rattled by the crumbling This economic backhand poses unexpected challenges for Krafrt as he maneuvers to maintain the organization’d base of donors and foundations while also meeting a goal of doublin g the number of youth who regularly attend the club over the next five years.
He hopesx to keep the organization, as he puts it, “levepl funded” this year and acknowledges thatthe “business plan takeas on more urgency now.” The organization is explorinvg the possibility of openingh more clubs in shared spaces — elementarh and middle schools, for example — as a way to brinhg services to communities at a lower cost. Kraft, who bringas with him a wide networkl of new contacts and potential knows he will be fundraising harder than What makes theBoys & Girls Clubs model unique, he says, is that many youth attend the clubs from the time they are childrej until they are 18 yearsd old.
“I have no problem going out and selling the way we do it becaused I have seen firsthandf how the clubs can changre kids andtheir families,” he said. As to whetheer his last name makes it difficultg for him to askfor donations, Krafy said his family, in some makes it easier, “I’vee always seen how much my family contributex and volunteers — I would think maybe it’s my family where I get it from.
” Like the yout h he works with, Kraft has grown up, albeit in the Boys & Girls Clubs To that end, he chose a careee path separate from his family’s Kraft Groupl and Patriots operations, with the exception being his current role as presidentr of the New England Patriot’s , the philanthropic arm of the sportz franchise. He toyed with the idea of law but after working as an intern teacher after graduatinhgfrom , he decided to work with “Josh would have been miserable doing anythint but something in this range,” says Myra Kraft, his mothefr and one of Boston’s most active philanthropists, who has been involvefd with the board of directors for the Boys & Girld Clubs of Boston since the 1980s.
Seeking a less-structured setting than a classroom, Kraft started with the Boys Girls Clubs in two ofSoutgh Boston’s housing projects. He walked through classroomz everyday to ensure his cohortof 30-or-so youth “some of the toughest kids in Soutb Boston,” Monahan said — showec up at school. He went on to ’ s and, when he finished in 1993 witha master’xs degree, another Boys & Girlw Clubs opportunity awaited: launching a Boys Girls Club location in Chelsea, which openexd in the basement of a public housingg project. The Club caught on and expanded. Krafy helped spearhead the campaign to builddthe $11.
2 million Jordan Boys Girls Club in Chelsea, which opened in 2002. The projecyt was a success, but the as Monahan points out, put Kraft “through his paces.” He remembers when Kraftg rented a bus and invited some projectskeptics — electex officials and business leaders included to South Boston so they could see what a Boys Girls Club building looked like. “There was a real ‘Are you going to be around for a while or will you be like others who will comeand go?’ Monahan said. Kraft stuck around. Now based in the organization’s downtown office, Krafft has an opportunity to shape it in anew way.
But he stillk gets out to the clubs as oftejn ashe can. “I miss being in the community directlu everyday,” Kraft said. “On the flip side, I believe so stronglty in the mission and supporting kidsand family. And I have a greay opportunity to be in a role wheres I can support the kids on agreaterr level.”
From across the room, a teenager walks over and says yet saysit all, as he and Kraft launchj into a complicated series of handshakesw that might confuse someone who is not from the “How’s your sister?” asks 41, their clasped hands dance throughu the greeting. “Are you stilol working?” Moments later Kraft rallies a group to take a picturrwith him. Craig, Justin, Hank, Alex he calls them by name as they crowcdaround him, excited. “Josh has a million-dollat smile,” says Melvin, 15, joking with Kraft as he watcheefrom nearby.
Son of Patriot’s Chairman and CEO Roberrt Kraft and an heir to the KraftGroupp fortunes, Josh Kraft’s upbringing was starkly different than thos e of the youth he was with that afternoojn in the in Chelsea. In the late Kraft traded silver-spoon comforts for passion and streetsavvhy that, inside the Club, have earned him both popularithy and respect. In July, who had been the executivs director of the Jordan Club since was named the Nicholas President and CEO of theparenr organization, Boys & Girls Clubs of taking over from Linda Whitlock, who stepped down.
His new role make s Kraft the rare nonprofit leader whose raw enthusiasm forthe organization’se mission comes from so many years spent at its grassrootsz level. “They think he’s nobody working at the Boys and Girlsa Club in the projects andnow he’s runningb all the Boys and Girls says Melvin. “He’s someone to look up “Am I surprised about wherw Joshis now? Absolutely not,” says Bob Monahan, directotr of operations at Julie’s Family Learnint Program in South Boston. Monahan was executive director of the when he firstmet Kraft. “Josh has the (whole) package: youthh development skills, relationship skills, fundraising skills.
He came to the Boys Girls Clubs with some of but he learned a lot of it alongbthe way.” As Kraft took the reinss this summer, the organization was completing a $100 millionn fundraising campaign — leaving it stable but with an like every other nonprofit, rattled by the crumbling This economic backhand poses unexpected challenges for Krafrt as he maneuvers to maintain the organization’d base of donors and foundations while also meeting a goal of doublin g the number of youth who regularly attend the club over the next five years.
He hopesx to keep the organization, as he puts it, “levepl funded” this year and acknowledges thatthe “business plan takeas on more urgency now.” The organization is explorinvg the possibility of openingh more clubs in shared spaces — elementarh and middle schools, for example — as a way to brinhg services to communities at a lower cost. Kraft, who bringas with him a wide networkl of new contacts and potential knows he will be fundraising harder than What makes theBoys & Girls Clubs model unique, he says, is that many youth attend the clubs from the time they are childrej until they are 18 yearsd old.
“I have no problem going out and selling the way we do it becaused I have seen firsthandf how the clubs can changre kids andtheir families,” he said. As to whetheer his last name makes it difficultg for him to askfor donations, Krafy said his family, in some makes it easier, “I’vee always seen how much my family contributex and volunteers — I would think maybe it’s my family where I get it from.
” Like the yout h he works with, Kraft has grown up, albeit in the Boys & Girls Clubs To that end, he chose a careee path separate from his family’s Kraft Groupl and Patriots operations, with the exception being his current role as presidentr of the New England Patriot’s , the philanthropic arm of the sportz franchise. He toyed with the idea of law but after working as an intern teacher after graduatinhgfrom , he decided to work with “Josh would have been miserable doing anythint but something in this range,” says Myra Kraft, his mothefr and one of Boston’s most active philanthropists, who has been involvefd with the board of directors for the Boys & Girld Clubs of Boston since the 1980s.
Seeking a less-structured setting than a classroom, Kraft started with the Boys Girls Clubs in two ofSoutgh Boston’s housing projects. He walked through classroomz everyday to ensure his cohortof 30-or-so youth “some of the toughest kids in Soutb Boston,” Monahan said — showec up at school. He went on to ’ s and, when he finished in 1993 witha master’xs degree, another Boys & Girlw Clubs opportunity awaited: launching a Boys Girls Club location in Chelsea, which openexd in the basement of a public housingg project. The Club caught on and expanded. Krafy helped spearhead the campaign to builddthe $11.
2 million Jordan Boys Girls Club in Chelsea, which opened in 2002. The projecyt was a success, but the as Monahan points out, put Kraft “through his paces.” He remembers when Kraftg rented a bus and invited some projectskeptics — electex officials and business leaders included to South Boston so they could see what a Boys Girls Club building looked like. “There was a real ‘Are you going to be around for a while or will you be like others who will comeand go?’ Monahan said. Kraft stuck around. Now based in the organization’s downtown office, Krafft has an opportunity to shape it in anew way.
But he stillk gets out to the clubs as oftejn ashe can. “I miss being in the community directlu everyday,” Kraft said. “On the flip side, I believe so stronglty in the mission and supporting kidsand family. And I have a greay opportunity to be in a role wheres I can support the kids on agreaterr level.”
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