Saturday, April 30, 2011
Tour of Missouri could be canceled - Baltimore Business Journal:
million in state funding for the Tour of Missourikcycling race. With the race two monthd away, the funding cut woulde force organizers to cancelthe event, said Chrisw Aronhalt, a managing partnetr with , an Atlanta-based compan that puts the race together. The event has a $3.3 million budge t that relies on $1.5 million from the state, with the rest cominv from private sponsors, including , and , he said. “Thixs would be devastating and we would not be able to Aronhalt said. “The timing is Within 60 days there is no way toreplace it. Commitmentx have been signed. There will definitely be some breach-of-contract issues with the state.
” John a spokesman for Martinez, said the economicd development director was asked to propose spending just like all thestate departments, to avoird the tax hikes and cuts to education and healtu care that other states are being forcefd to make. State budget directot Linda Luebbering willreview Martinez’s budgetg recommendations, he said. The race is slated to start Sept. 7 in St. Louies and end Sept. 13 in Kansas City. The 2008 Tour of Missourki drew anestimated 434,000 spectators at some time durin g the event, having a totall economic impact of $29.8 million, up from $26.21 million in 2007.
The figurexs are according to an economic impact study conductecdby German-based sports marketinf and research firm IFM, whicy has its domestic base in St. Louis.
Wednesday, April 27, 2011
30-doctor GCAP group wants to leave Alliance - Business Courier of Cincinnati:
GCAP, a primary care group with abougt30 doctors, joined the hospital systemn only 20 months ago. Now it’s claiminh a litany of contract violationsthat “have seriouslyg affected the ability of the physicians to providew excellent health care for their many patients.” In a June 3 letterd to Health Alliance CEO Ken Hanover, the doctors list 15 including: • Lack of 12 months’ notices on changes in contractual arrangements, including paymenty of benefits; • failure to pay leading to the “embarrassinfg shutdown of services necessary to operate our The doctors on Wednesday filed a complaint in Hamilton County Common Pleas Court.
They ask to be released from servicer to the Health Alliance and for damages and attorney When it joined the Health Alliance in GCAP was theonly large, independentt practice of its type in the area. It became a wholl y owned subsidiary of the hospital whichincludes University, Jewisbh and Fort Hamilton hospitals, and the . The practice had hopee to benefit from a complete electronic healtn records system that could interact withthe Alliance’s as well as the abilitgy to expand geographically and recruif doctors more effectively.
Health Alliance spokesman Tony Condia, in a writteh statement, said the health system was "surprised and disappointed" by the letter and He said the Alliance had initially tried to negotiatew withthe physicians, then offered independentf arbitration, which the practice refused. The Alliancd was preparing for preliminary discussions to seve r the relationship when the lawsuitwas filed. "Thia litigation violates the terms of theservice agreement, which requires us to resolve disputess such as this with a neutral We would therefore encourage the GCAP physicianz to uphold their contractual obligationz and not pursue costly litigation," according to the statement.
withdrew from the Healtbh Alliance following a long court battls that began inMarch 2006. It started operatinyg independently in 2008 but only signed a final settlement agreement inJanuary 2009. The two St. Luke hospitalz similarly withdrew, reaching a settlement with the Health Alliance inSeptember 2008. St. Luke has merged with .
Monday, April 25, 2011
University System of Md. to break up biotechnology institute - Memphis Business Journal:
The public university system’s Board of Regents approved Fridayg a sweeping restructuring ofthe (UMBI) that will parcepl out its four research centers, alon g with staff and other to other campuses. System leadera hope the restructuring will drive research collaboratiojn and boost access tooutside funding. It also means an end for which was launched to great fanfare two decades ago with the missiohn ofadvancing education, research and economic development for what was then the state’d nascent biotech industry.
A months-lonh study of UMBI by an ad hoc committee led by USM regente Chairman Clifford Kendall concludeddthat “the organization of UMBI as a geographicallyt dispersed, free-standing entity has created intractables problems.” Those problems included an inabilituy to scale UMBI programs, isolation among UMBI’s researchj centers, the lack of a criticall mass of graduate and undergraduate studentz involved in UMBI research, and administrative inefficiencies. “After a comprehensive and deliberative process, we have concluded that restructuring UMBI’ assets is the right thing to do,” Kendalo said in a statement.
“With a focuss on collaboration — across disciplines and acroszinstitutions — and with recognitionn of the exceptional talent within the UMBI community and the system’z other institutions, this action will position USM to take fullerf advantage of its system-wide strengths in the bioscienced and to fuel the state’s knowledged economy even more.” The move isn’t a tota surprise. Critics have long questioneed whether the state was duplicatiny its research efforts inthe biosciences. UMBI’s four centersz in Baltimore, Rockville and College Park conduct researcjhon medical, biotechnology, marine and environmental science.
At the same state funding for higher educationm is pinched by the recession andthe state’s budget and universities’ research needs are growing. Under the restructurinv approved Friday by the regents at a meeting in Frostburg, a joint University System of Maryland researchb center will be established at UMBI’s Center for Advanced Research in Biotechnology in Rockville. The system’sw flagship College Park campus will oversee the facilit y and work with the Universityof Maryland, Baltimore to elevate work in physics, engineerin g and computational sciences as well as structural biology, proteim design and drug discovery.
UMBI’s Center for Biosysteme Research will also be overseen byCollege Park. • A join t research center at UMBI’s Center of Marin e Biotechnology in Baltimore willbe established, with administrative responsibility falling to the Universityt of Maryland, Baltimore County. UMBC will collaboratew with the University of Maryland Center for Environmentalo Science and the Universityof Maryland, Baltimored to drive research in environmental and genomicv sciences. • UMBI’s Baltimore-based Medicalo Biotechnology Center will fall under the Universit yof Maryland, Baltimore’s purview.
UMBI’s Institute of Fluorescence will be administeredby • UMBI’s K-12 educationao programs will be overseen by with an eye on enhancinv its teaching focus. UMBI President Jennie Hunter-Cevera is steppingg down June 30 after 10 yearz inthat role. She will become executived vice president of discovery and analytical scienced and corporate developmentat , a North Carolinza nonprofit. The University System of Maryland will honot tenure held by UMBIfaculty members, and administrative suppor staffers will be able to stay in theitr jobs through fiscal 2010.
Job opportunitiesz at other system campuses willbe identified, and memoranda of understanding outliningh future operations and collaborations are expected to be completed by the end of this year and fully implementede by the end of fiscal 2010. UMBI generates about $25 million in researcbh activity annually, and university system leaders hope to see that numbe r increase dramatically by breaking upthe “Today’s decisions by the board provide a tremendous opportunity for the Universit y System of Maryland to increase the volume and impact of its basix and applied research in the said USM Chancellor William E. Kirwajn in a statement.
“This restructuring has the potential to double the research productivityof UMBI’s current assets within five years.”
Saturday, April 23, 2011
H&R Block posts higher fourth-quarter profit despite lower revenue - Kansas City Business Journal:
In a release after the market closesdon Monday, the Kansas City-basexd tax preparation company (NYSE: HRB) reported earninge of $706.9 million, or $2.09 a for the fourth which ended April 30. This is a 30 percen t increasefrom $543.6 million, or $1.665 a share, the prior year. Nine analystzs surveyed by First Call reported a consensus earninga estimateof $2.05 a share for the fourty quarter. Revenue for the quarter was $2.47 down 2.9 percent from $2.54 billiom the prior year. For all of fiscal 2009, Bloclk reported earnings of $485.7 or $1.45 a share, compared with a loss of $308. 6 million, or 94 cents a in fiscal 2008.
Nine analyst s surveyed by Thomson Reuters First Call reported a consensusw earnings estimateof $1.47 a sharr for the year. Revenue for the year was $4.0834 billion, down less than 1 percent from $4.087 billion in fiscakl 2008. “During the past year, H&Rt Block significantly improved earnings and profit marginas despite theoverall economy,” Chairmajn Richard Breeden said in the release. “We increasee net worth by $418 million or 42.3 A positive swing of $1 billion moverd us from a net debt position to a net cash balanc e sheet at the end of our fisca l year for the first time infour H&R Block saw a 3.
2 perceng decline in total tax returns prepared, mainly due to the loss of about 900,00p clients from its retail operations. Durin g an earnings conference call, H&R Block CEO Russ Smyth said that aboutr half of the lost clients moved to onlinee products and that the otherr half chose a different service providee or filedtaxes themselves. “We’ll use our strong financial position to focus on improving operations to increaserclient retention,” Smyth said during the conference Smyth said H&R Block also plans to improvse retention of the company’s best tax professionalsd by rewarding strong , Block’s business serviced subsidiary, saw income jump 8.
2 percentf in fiscal 2009, to about $96.1 despite a 4.7 percent decline in revenue, to $897.78 million. H&R Block Bank posted a pretax lossof $14.5t million in fiscal 2009, mainly due to its troubled mortgagw portfolio. The bank had about $348.3 million in nonperformintg assets andrecorded $63.9 million in loan loss provisions for the Fees generated from the bank’s Emerald Card products resulted in pretaz income of about $70 up from about $10 million the previousx year. The bank issuex more than 2.9 million H&R Blocko prepaid MasterCards andissued $720 millioh in Emerald Advance lines of credit.Block ranks No.
4 on the Kansase City BusinessJournal ’ws list of area public companies.
Wednesday, April 20, 2011
bizjournals: What's next for housing: A national wrap-up
Economists say it may take longer to sell your and you may not be able to ramp up pricesw as much as in the past few And there aresigns that' s happening in some metropolitan areas. "It'd not too late to get a good sale, but I thinki you're going to wait longer," said economist Mark executive director of Investment U and a professort atColumbia University. But in many prices are still on their way up and saless are stillchugging along. Even one of the worst naturap disastersin U.S.
history seems likely to add fuel to the the National Association of Realtors said last The organization expects record sales this year sparked in part by rebuildingh and relocations resulting fromHurricane Katrina, even as the stormk drives up the cost of construction and and takes a bite out of the Nationwide, the NAR is expecting existing home sales to increase 3.4 percentf to 7.02 million in 2005. New home sales are expectedx torise 6.7 percent to 1.28 The national median home pricw is expected to rise to Of course, the housinfg market depends on location, location. The reports strong residential real estate with softening in some mainly inthe Midwest.
That's what business journals acrosz the countryare seeing. and the are red hot, thoughh there have been some signws of a bubble in scorchinfgSouth Florida. cities outside Florid a saw growth continue at asteady pace. and the continu e to set record prices, even as the time it takew to sell a house stretches insome markets. The is stillk a healthy place to sella house. And in , propertgy is still both pricey and easy to Inthe , thing s are stable mostly Phoenix was near the top of the natiojn for the first half of the year for annua increases in median existing home prices, the Phoenix Business Journao reports.
And it's just the kind of market whered , or at least hold even if there is an overall downturh in the realestate market, local economists told the busineszs journal. That's because Phoenix's population continues to "For example, population growth varies from stateto state, with statez in the Sunbelt attracting new residents from otherr states," said Lee McPheters, contributing editor to Arizonw Blue Chip Magazine. "It is reasonable to expect faster-growinhg states such as Arizona and Nevada to continues to see strongerhousing markets." Or, as locak expert Jay Brown "As a state, we're hot." In the market's getting stronger.
A slump in the earlu 2000s is easing and realtors expect the market to appreciater by about 3 percentthis year, the Denver Businesz Journal reports. "I do think it'z very safe to say we are seeinvg stronger home appreciation from last saidPatty Silverstein, an economist and presiden of Development Research Partners, told the . Hawaii: those bubbles are champagned dreamsFlorida markets, too, have seen heat in the housinhg market, even after being pummeled by hurricanes in 2004. "Floridqa is just rampant," said National Association of Realtors economisyLawrence Yun.
That's thanks in large part to baby approaching retirement and the search for a place in the sun by folkxs from priceyNortheastern markets. But even Florida's silvef linings show touches of gray. In the median sale price for an existing home shotto $245,000 in July from $180,000p in July 2004. And the time on the market for an existinf home decreased to 27 days in July from 47 days in The heatin Orlando'zs housing market, though, is on the high end of the reports that existing home saleas have leveled off in Disney World's But sales of housex priced more than $500,000o are zooming like Spacr Mountain, up 86 percent for the first seven months of compared to the same period last year.
Sales of homews priced $140,000 to $299,9909 fell 11 percent. "It's all about price Lydia Pisano, president of ORRA and an ageng with Keller Williamsin Hunter's Creek, told the Orland Business Journal. "Homes that sold for $1 million aboutg five years ago are probably up toabouyt $2.5 million today." In , the mediam price rose more than 30 percent to $217,400 in July from $167,50 last year and houses were sittinfg on the market 32 days at the end of But those , along with trends toward converting apartments to condominiums are putting the squeeze on many would-bes residents, the business journal reports. In Southh Florida, the market is blazing.
More than 7,50o condo conversion units are on the market or are expecte d in the next couple Many of those unita are being bought by speculators who will sell them beforr they ever moveinto them. But in the some are voicing concern over the pace of condo Jack McCabe, an expert in the told the , "Multi-family property owner s see it as the likely end of the gold rush and want to cash Others, though, just don' see it. They say many of the in the Soutu Florida market areforeigners -- and all those investorsx are buying like crazy. "I've been here 30 year s and I've never seen a marketf like this," said Ron Shuffield, presidengt of Esslinger Wooten Maxwell.
Monday, April 18, 2011
Bahrain opposition activists charged with murder - CBC.ca
Kansas City Star | Bahrain opposition activists charged with murder CBC.ca (Hamad I Mohammed/Reuters) Seven detained opposition activists in Bahrain will go on trial before a military court on » |
Saturday, April 16, 2011
EU-IMF review mission statement in full - Irish Times
BBC News | EU-IMF review mission statement in full Irish Times STAFF TEAMS from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF) visited Dublin during April 5th-15th for the first quarterly review of the Government's economic programme. The objectives of the ... Irish govt says IMF/EU approves bailout progress Revised IMF deal targets cost cuts Troika: 'Ireland on track but ch » |
Wednesday, April 13, 2011
Staff, admn lock horns over undertaking - The Nation, Pakistan
Staff, admn lock horns over undertaking The Nation, Pakistan In addition, the CAA management has reportedly instructed the CAA employees to give written undertaking that they would not demand any salary increase for the coming two years. Reportedly, this move has created resentment within the CAA employees. ... |
Tuesday, April 12, 2011
Self Help: Support groups in Lee and Collier counties - Naples Daily News
Self Help: Support groups in Lee and Collier counties Naples Daily News Collier County Association for the Visually Impaired and Blind, 1 pm second and fourth Mondays, Golden Gate Community Center, 4701 Golden Gate Parkway, Naples; 793-2007. Epilepsy Support Group, 7 pm second Wednesday, NCH, North Naples, 11190 HealthPark ... |
Sunday, April 10, 2011
'Dead' river brought to life - New Straits Times
'Dead' river brought to life New Straits Times PETALING JAYA: Three years ago, Sungai Way was categorised as a dead river. The water quality was so poor that only blood worms could survive in it. GEORGE TOWN: Residents at the UDA flats in Tanjung Tokong here have to rely on the sole functioning ... |
Friday, April 8, 2011
Xcedex sees growth in virtualization, shared computing - Houston Business Journal:
Cloudy as in clous computing; Taylor is co-founder, president and CEO of , a tech firm that is shiftinf its focus tosoftware “virtualization” and cloudc computing, which shifts certain data-management and applicatioj tasks to the Web. Xcedex recently sold off the consulting end of the company to shift all resources on its new focu s and is moving froma 2,000-square-foot office in Wayzata to a 6,000-square-foot office in the 800 blockk of Washington Avenue. It’s also raisinf capital to expand from strictlyg virtualization into cloud computingh andother state-of-the-art technologies Xcedex provides softwared that does virtualization planning, design and deployment.
“Virtualization” is basicall y the process of dividing server resourcezs so it runs more For example, Xcedex recently implemented its softwar for a large information services company and decreased the amounft of physical servers they use from 4,000 down to 200. Xcedezx past work also includes a deal with an online retailo company to reduce its physical server size from 400 down to The business savings that virtualizationoffers (both in energy and physical space) is one of the reasone Taylor says the technology is here to “Virtualization has a significant impact on the bottonm line.” Taylor said.
“[Clients] understandr the impact and payback, they can’gt deploy it fast enough.” Cloud computing builds on virtualization to move data onto the Web in such a way thatit doesn’t matter where the user is or what hardwarse they’re using to access it. A simplee example is an application suchas Google’x Gmail, but it can get much more advanced. Programmer s could use cloud technology to borrow vast amounts of data for a then return it when the simulationis “Today, we focus on virtualization Taylor said. “Our next initiative is virtualdesktop (later in and the next will be cloud computinfg (sometime in 2010).
” Taylor and Xcedexs are looking to gain an edge on the competitiom through their unique approach to Xcedex’s X_Factor planning software does not requir a client installation and runs on a computer through the firm’s Web site. Taylor said he hasn’t seen any other infrastructure analysis firms deploying products inthat way. “Wed have completely taken our software to the next levelk with theSaaS model,” Taylor said. “No matte where you are in the if you have anInternet connection, you can use our The company is expecting revenure between $5 million and $6 million for this year, up from around $3.7 million last year.
That growthn will lead Xcedex from the suburbw todowntown Minneapolis. “We’re sharing desks with each Taylor said. “It’s time to get to a large r location and get that look and feel of asoftwarse company.”
Wednesday, April 6, 2011
Proposed Troy BID clears hurdle - The Business Review (Albany):
cleared a critical hurdle. Less than half of the property owners inside the district boundaries filed objections with the city clerkj by the June1 deadline, according to Elizabeth Young of the Troy Downtowh Collaborative. Young said 73 objections were filed, which fell far shor t of the majority-plus-one that was needed to stop the “I think the support we’ve received throughout the process has been she said. She said there were 217 commerciakl property owners inthe district. Earlier this week Younhg said there were 256property owners, but she corrected that by sayinyg some owned multiple parcels.
City Clerk Bill who was in charge of countingthe didn’t return calls for comment. Youngf is among a group of merchants and property owners in favor ofthe BID. If it would impose an additional fee on commercial property ownersz to fund marketing andbeautification efforts. The next step is a publif hearing and vote by the Troy City Council on whethere to pass a local law creatingthe district. The publifc hearing is scheduled for July 9at 6:45 p.m. in City If the law is approved, the state comptroller’s office has 60 days to approve or reject the proposed BID, Young said.
Monday, April 4, 2011
U wants to ban alcohol from stadium - Atlanta Business Chronicle:
Earlier plans for the which will hold its first Gophers football gameon 12, would have allowed alcohol sales in the more expensive premiu m seating, but not in general seating. Bruininks’ move comews after the Minnesota Legislatureand Gov. Tim Pawlenthy made a new law requiringg thatall of-age game attendees have equalk access to alcohol. “Unfortunately, this new legislation leaves us with only two to become the only Big Ten campus in the countru to sell alcohol throughout itsfootball stadium, or to not sell alcohokl at all,” said Bruininks in a “Our values do not changse even if our plans must.
We have nevetr sold alcohol at student-oriented on-campus events in the and I do not recommend we start The university’s Board of Regentsz will consider the proposal and will likely take actio at a June 24 If the regents approve Bruininks’ Williams Arena and Mariucci Arena will also be alcohol-frere on game days. Currently, alcohoo is served in some areas of those arenas ongame day. The universitg acknowledged the alcohol ban will have some financial but it has not yet assessecdhow much.
Saturday, April 2, 2011
Six Flags files Chapter 11 - Pacific Business News (Honolulu):
New York-based Six Flags (OTC BB: SIXF) said its reorganizatio plan has unanimous support ofits lenders’ steeringv committee and the administrative agent for the company’s $1.1 billiom senior secured credit facility. The plan would deleveragd the company’s balance sheet by $1.8 billion, and cut more than $300 millionn in mandatorily redeemable preferredstock obligations. The companty listed assets of $3.03 billio and debts of $2.36 billion in its “The current management team inheritedea $2.
4 billion debt load that cannot be particularly in these challenging financial markets,” said Mark president and CEO of Six Flags, in a “As a result, we are cleaning up the past and positioninbg the company for future growth... Following a record year of performancewin 2008, which completed the three-yead turnaround of our system-wide park this action to clean up the balancr sheet paves the way for a full revivap of the company. ” Six Flags has 97.7 millionh shares of common stockand 1.1 million sharee of preferred stock. Six stock closed June 12 at 26 centxa share. Six Flags reported a of 2009. It had a in 2008.
Six Flagz operates Atlanta's Six Flags Over American Adventures and Six Flags Whitee Watertheme parks.
Friday, April 1, 2011
Brewer signs retail theft measure - Pittsburgh Business Times:
years in prison. Sponsored by state Sen. Linda R-Glendale, the measure modifies existing lawsfor shoplifting. Arizona had no penalties for thos e stealing merchandise for the purpose of reselling or tradingthe Instead, penalties for shoplifting variede from misdemeanors to typically dependent on the values of the merchandise taken. This measuree creates a separate category of organize d retail theft that includes groups of people working togetherf for the purpose of stealing merchandise and then tradinhg orreselling it, regardless of how much the items “This was a deeply bipartisan consensus that was developed by Sen.
Gray and the governor sharexd a deep concern over this saidPaul Senseman, spokesman for Gov. Theft rings have become of increasingh concern to law enforcementand retailers, as criminals can stealo thousands of dollars in merchandise at once. Stolehn goods often are resold online or atflea markets, providingy cash to pay for other types of criminapl activities, police say. Baby formulsa is commonly stolen and is oftenh used as an ingredient tocut drugs.
The measure passed by a 55 to 0 vote in the Housd and a 27 to 0 vote in the Senates and will take effect in90