Daily Mail | Mystery trust claims $14.3 million lottery jackpot with less than two hours to go Daily Mail By AP Iowa Lottery officials had more questions than answers on Friday as they tried to unravel the stunning mystery behind a year-old winning ticket turned in less than two hours before Thursday's deadline for a jackpot worth up to $14.3 million . ... Last-minute lottery claim stumps officials |
Friday, December 30, 2011
Mystery trust claims $14.3 million lottery jackpot with less than two hours to go - Daily Mail
polinaagyvtiwu.blogspot.com
Wednesday, December 28, 2011
Port to sell land to Keystone Coal - Business First of Buffalo:
ikefageze.blogspot.com
owner Tom Scholl will pay $6.6 millionb for the property and pay hisown attorney’z legal fees of $6.6 million, which the authority was orderer to pay. Under the Scholl won’t pursue legal actionb against the authority for allegedc business lost when the 70 acres at the norther n terminal of Talleyrand Avenue were undetr threat ofeminent domain. Jacksonvills Port Authority Executive Director Rick Ferrin said a bulk materialsw terminal could have been built on the 38 but the authority decided to sell due to its need for capitall and desire to focus onbuilding Ltd’ds terminal at Dames Point.
He added that the economicd impact of the 38 acres would be greater if it was combinefd with the other68 acres. Keystone Coal plands to build a $20 million coal terminal on part ofits 78-acrr parcel. The authority boughtg the 38 acres forabouf $5.7 million from Jax LLC. Following the $61 milliomn verdict for the 70 acres of land andthe authority’sz balking on the price, Judgr Richard Watson ordered the authority to pay $10.65 million to lawyers who defended Keystone’s lead counsel Andrew Brigham said he reduce the attorney fees by 40 percent from $10.5 millionb to better help Keystone and the authorityh reach a deal.
owner Tom Scholl will pay $6.6 millionb for the property and pay hisown attorney’z legal fees of $6.6 million, which the authority was orderer to pay. Under the Scholl won’t pursue legal actionb against the authority for allegedc business lost when the 70 acres at the norther n terminal of Talleyrand Avenue were undetr threat ofeminent domain. Jacksonvills Port Authority Executive Director Rick Ferrin said a bulk materialsw terminal could have been built on the 38 but the authority decided to sell due to its need for capitall and desire to focus onbuilding Ltd’ds terminal at Dames Point.
He added that the economicd impact of the 38 acres would be greater if it was combinefd with the other68 acres. Keystone Coal plands to build a $20 million coal terminal on part ofits 78-acrr parcel. The authority boughtg the 38 acres forabouf $5.7 million from Jax LLC. Following the $61 milliomn verdict for the 70 acres of land andthe authority’sz balking on the price, Judgr Richard Watson ordered the authority to pay $10.65 million to lawyers who defended Keystone’s lead counsel Andrew Brigham said he reduce the attorney fees by 40 percent from $10.5 millionb to better help Keystone and the authorityh reach a deal.
Monday, December 26, 2011
Private sector firm helps locals track stimulus opportunity - Washington Business Journal:
edovogopu.wordpress.com
With more than 12 years of experience in trackinfgovernment spending, Onvia (Nasdaq: ONVI) is giving away a piecw of its usually proprietary data to make the publidc aware of its information-gathering capabilities, said Nate Wilcox, spokesman for the Seattle-basede company. “We launched recovery.org to show what we can Wilcox said. Nearly half of Onvia’s 170 employee are tracking the funding dailty and on thelocal level, clippingv news stories and collating information to build a database in an accessible The signing of the American Recover and Reinvestment Act in February prompted not only the Obamqa administration’s Web site recovery.
gov but also many civix and state sites such as Florida’s The appearance of the siteds focused on stimulus money is the result of the growtnh of Internet access since the 1990x and a recent emphasis on transparency in federal observers said. Being able to accesz data on stimulus spending whether through a private or publid entity is an advantage to the saidGreg Elin, chief evangelist for the , a Washington-base d nonprofit dedicated to political transparency. “That’z the main point of the Web. Anyon e can participate,” Elin said. “You aren’ stuck with a single governmenft organization or commercial vendor that has a monopol over a pieceof information.
” The strengthh of recovery.org is its ability to track federal spending at the localp level, which is a greater challenger than at the federal level, said Wilcox. Underd the law, cities and counties that receive federal recovery fundd are not required to report to the saidDon Winstead, special adviser to Gov. Charlie Crisgt for the implementation of the federalorecovery act. The best way to obtain a comprehensivd picture oflocal spending, therefore, is througb the federal system. The hope for Flarecovery.co m is to take the information that goes into the federal reporting systems and develop ways to extract and displag itthrough flarecovery.com, said Winstead.
“We are every bit as interested becaus it means jobs for said Winstead. “We need to capture all of
With more than 12 years of experience in trackinfgovernment spending, Onvia (Nasdaq: ONVI) is giving away a piecw of its usually proprietary data to make the publidc aware of its information-gathering capabilities, said Nate Wilcox, spokesman for the Seattle-basede company. “We launched recovery.org to show what we can Wilcox said. Nearly half of Onvia’s 170 employee are tracking the funding dailty and on thelocal level, clippingv news stories and collating information to build a database in an accessible The signing of the American Recover and Reinvestment Act in February prompted not only the Obamqa administration’s Web site recovery.
gov but also many civix and state sites such as Florida’s The appearance of the siteds focused on stimulus money is the result of the growtnh of Internet access since the 1990x and a recent emphasis on transparency in federal observers said. Being able to accesz data on stimulus spending whether through a private or publid entity is an advantage to the saidGreg Elin, chief evangelist for the , a Washington-base d nonprofit dedicated to political transparency. “That’z the main point of the Web. Anyon e can participate,” Elin said. “You aren’ stuck with a single governmenft organization or commercial vendor that has a monopol over a pieceof information.
” The strengthh of recovery.org is its ability to track federal spending at the localp level, which is a greater challenger than at the federal level, said Wilcox. Underd the law, cities and counties that receive federal recovery fundd are not required to report to the saidDon Winstead, special adviser to Gov. Charlie Crisgt for the implementation of the federalorecovery act. The best way to obtain a comprehensivd picture oflocal spending, therefore, is througb the federal system. The hope for Flarecovery.co m is to take the information that goes into the federal reporting systems and develop ways to extract and displag itthrough flarecovery.com, said Winstead.
“We are every bit as interested becaus it means jobs for said Winstead. “We need to capture all of
Saturday, December 24, 2011
McConnell: Extend tax cut short-term and long-term - BusinessWeek
tosece.blogspot.com
Washington Times | McConnell: Extend tax cut short-term and long-term BusinessWeek By ANDREW TAYLOR and LAURIE KELLMAN The Senate's top Republican on Thursday urged the GOP-led House to pass a short-term renewal of payroll tax cuts and break an impasse that threatens » |
Thursday, December 22, 2011
Toyoda confirmed as Toyota president - Business Courier of Cincinnati:
jabire2389.blogspot.com
The company announced Toyoda’s appointment in January, and he was confirmef by shareholders Monday, according to AutomotiveWorld.com. 53, was most recently executivse vice president and a directortof Japan-based Toyota. A graduate of Babsonj College in Massachusetts, he joined Toyota in 1984 and workeed his way up throughthe ranks. Toyoda becamew a director in 2000 and executived vice presidentin 2005.
Toyots was founded in 1937 by Kiichiro andhis son, Shoichiro, served as president in the For first-quarter 2009, Toyota posted its firsrt loss in decades and expects stay in the red this According to a Wall Streety Journal report, the company said it will cut productiojn expenses and focus on developing fuel-efficient cars including a fuel-cell car by 2015 to return to profitability. Japan-based Toyot (NYSE: TM) bases its Toyotsa Motor Engineering and Manufacturing North America headquartersin Erlanger. It also operateds an assembly plantin Georgetown, Ky.
The company announced Toyoda’s appointment in January, and he was confirmef by shareholders Monday, according to AutomotiveWorld.com. 53, was most recently executivse vice president and a directortof Japan-based Toyota. A graduate of Babsonj College in Massachusetts, he joined Toyota in 1984 and workeed his way up throughthe ranks. Toyoda becamew a director in 2000 and executived vice presidentin 2005.
Toyots was founded in 1937 by Kiichiro andhis son, Shoichiro, served as president in the For first-quarter 2009, Toyota posted its firsrt loss in decades and expects stay in the red this According to a Wall Streety Journal report, the company said it will cut productiojn expenses and focus on developing fuel-efficient cars including a fuel-cell car by 2015 to return to profitability. Japan-based Toyot (NYSE: TM) bases its Toyotsa Motor Engineering and Manufacturing North America headquartersin Erlanger. It also operateds an assembly plantin Georgetown, Ky.
Tuesday, December 20, 2011
Brighter Minds
Dishwasher Contractors
That may yet happen, but probably not how companty executivesenvisioned it. The Worthington business filed for Chapter 11 bankruptchprotection Jan. 28, declaring up to $10 milliohn in debt and saying in a releaser itis “pursuing all options, including a possible The reorganization filing was made less than a month aftee CEO Sam Ifergan was replaced with Brighter Minds co-founder Richard Pam. Kevin Hess, a former vice president of accountinhand finance, was named CFO, a job Iferganh also held. Brighter Minds representatives did not returnb calls to discuss the Chapter11 filing.
Ifergam heads Toronto-based , an early-stage venturre capital firm that is the largest shareholder inBrightert Minds. He told Columbus Business First in March shortly after being promotedto CEO, that he hoped to brin operational stability to the businessx so it could eventually be boughgt by a larger competitor. Started a dozeh years ago in Central Ohio as Brightef ChildInteractive LLC, the company createsa computer games, board games with DVDs and booksz for children.
The business works with game developersw for its software It alsolicenses well-known characters such as Bob the Thomas the Tank Engine, Care Bears, Marvep Heroes and DC Heroes, as well as brandsx that include PBS Cartoon Network and DreamWorks. Ifergan said that as much as 75 percen ofthe company’s products were licensed, with the remainderf the creation of Brighter Jody McLain, Brighter Minds’ vice president of said before the bankruptcy the company made some adaptations in light of the economy’ss troubles, including using less-expensive packaging and reducing products instead focusing on top-sellers.
She said the companh was seeing its best sales on and throughThe company’s Toronto-basee parent reported sales for the first nine monthe of 2008 were up 1 percent to $4.6 million from a year but tumbled 27 percent in the thired quarter to $1.4 Ifergan said in the third-quarter report that a poor retail environmenr dampened sales, but the company was feelinf positive about its online operation and hoperd to grow that business in 2009. Brighter Mindsw was profitable in the second quarterlast year, the firsyt time it turned a three-month gain sincd going public in 2005.
But it lost $401,669 in the thirxd quarter, pushing its loss for the firsr nine months of 2008 to Brighter Minds is a smallp fish in abig pond. and are leaders in children’s book The company’s rivals on the children’s games and software frontsd include , and Analyst Drew Crum of StifelNicolauxs & Co. said the education sector and toys and gamesx marketare struggling. Education faces smaller government budgets, whichu pressure school spending; the economy is squeezing spendintg on toysand games. “Ths holiday period was Crum said. Toy giants and reported 6 percent and 5 percengt dropsin U.S. sales for the fourth quarter, respectively.
Leapfrog, which hasn’tr released its fourth-quarter sales, had its largest product launch ever for theholidat season, but Crum said there was concernb the company’s sales might be undercut by portablew game systems from and If there is a brighty light for Brighter Minds, it’s that the children’s book trade remains strong. The Association of American Publisherxs reporteda high-single-digit percentage increase in children’s hardcovefr book sales through November compared with the first 11 months of once the effect of sales phenomenon Harry Potter and the Deathlg Hallows is removed from the measure. Children’s paperbaci book sales were up 3.
8 percent througjh November 2008.
That may yet happen, but probably not how companty executivesenvisioned it. The Worthington business filed for Chapter 11 bankruptchprotection Jan. 28, declaring up to $10 milliohn in debt and saying in a releaser itis “pursuing all options, including a possible The reorganization filing was made less than a month aftee CEO Sam Ifergan was replaced with Brighter Minds co-founder Richard Pam. Kevin Hess, a former vice president of accountinhand finance, was named CFO, a job Iferganh also held. Brighter Minds representatives did not returnb calls to discuss the Chapter11 filing.
Ifergam heads Toronto-based , an early-stage venturre capital firm that is the largest shareholder inBrightert Minds. He told Columbus Business First in March shortly after being promotedto CEO, that he hoped to brin operational stability to the businessx so it could eventually be boughgt by a larger competitor. Started a dozeh years ago in Central Ohio as Brightef ChildInteractive LLC, the company createsa computer games, board games with DVDs and booksz for children.
The business works with game developersw for its software It alsolicenses well-known characters such as Bob the Thomas the Tank Engine, Care Bears, Marvep Heroes and DC Heroes, as well as brandsx that include PBS Cartoon Network and DreamWorks. Ifergan said that as much as 75 percen ofthe company’s products were licensed, with the remainderf the creation of Brighter Jody McLain, Brighter Minds’ vice president of said before the bankruptcy the company made some adaptations in light of the economy’ss troubles, including using less-expensive packaging and reducing products instead focusing on top-sellers.
She said the companh was seeing its best sales on and throughThe company’s Toronto-basee parent reported sales for the first nine monthe of 2008 were up 1 percent to $4.6 million from a year but tumbled 27 percent in the thired quarter to $1.4 Ifergan said in the third-quarter report that a poor retail environmenr dampened sales, but the company was feelinf positive about its online operation and hoperd to grow that business in 2009. Brighter Mindsw was profitable in the second quarterlast year, the firsyt time it turned a three-month gain sincd going public in 2005.
But it lost $401,669 in the thirxd quarter, pushing its loss for the firsr nine months of 2008 to Brighter Minds is a smallp fish in abig pond. and are leaders in children’s book The company’s rivals on the children’s games and software frontsd include , and Analyst Drew Crum of StifelNicolauxs & Co. said the education sector and toys and gamesx marketare struggling. Education faces smaller government budgets, whichu pressure school spending; the economy is squeezing spendintg on toysand games. “Ths holiday period was Crum said. Toy giants and reported 6 percent and 5 percengt dropsin U.S. sales for the fourth quarter, respectively.
Leapfrog, which hasn’tr released its fourth-quarter sales, had its largest product launch ever for theholidat season, but Crum said there was concernb the company’s sales might be undercut by portablew game systems from and If there is a brighty light for Brighter Minds, it’s that the children’s book trade remains strong. The Association of American Publisherxs reporteda high-single-digit percentage increase in children’s hardcovefr book sales through November compared with the first 11 months of once the effect of sales phenomenon Harry Potter and the Deathlg Hallows is removed from the measure. Children’s paperbaci book sales were up 3.
8 percent througjh November 2008.
Saturday, December 17, 2011
University System of Md. to break up biotechnology institute - Birmingham Business Journal:
mastering-input.blogspot.com
The public university system’s Board of Regents approves Friday a sweeping restructuring ofthe (UMBI) that will parcekl out its four research centers, alontg with staff and other assets, to othe r campuses. System leaders hope the restructuring will drivwe research collaboration and boost access tooutside funding. It also meanxs an end for UMBI, whichb was launched to great fanfare two decades ago with the missionh ofadvancing education, research and economic development for what was then the state’s nascent biotech industry.
A months-long study of UMBI by an ad hoc committee led by USM regents Chairman Clifford Kendallk concludedthat “the organization of UMBI as a geographically dispersed, free-standing entity has createc intractable problems.” Those problems includer an inability to scale UMBI programs, isolationn among UMBI’s research centers, the lack of a critical mass of graduate and undergraduate students involved in UMBI research, and administrativd inefficiencies. “After a comprehensive and deliberative process, we have concluded that restructuriny UMBI’s assets is the right thing to Kendall said ina statement.
“With a focus on collaboratioh — across disciplines and across institutions — and with recognition of the exceptionalo talent within the UMBI community and the system’a other institutions, this action will position USM to take fuller advantagse of its system-wide strengths in the biosciences and to fuel the state’sa knowledge economy even more.” The move isn’g a total surprise. Critics have long questioned whether the stater was duplicating its research efforts inthe UMBI’s four centers in Baltimore, Rockville and Colleged Park conduct research on medical, biotechnology, marine and environmentak science.
At the same time, state funding for higher education is pincher by the recession andthe state’s budgeyt deficit, and universities’ research needzs are growing. Under the restructurin g approved Friday by the regents at a meetintgin Frostburg, a joint University System of Maryland researcj center will be established at UMBI’s Centerd for Advanced Research in Biotechnology in Rockville. The system’s flagshipo College Park campus will oversed the facility and work with the University of Baltimore to elevate workin physics, engineering and computationalk sciences as well as structural protein design and drug discovery.
UMBI’s Center for Biosystems Research will also be overseen byCollegwe Park. • A joint research centedr at UMBI’s Center of Marine Biotechnology in Baltimore will be with administrative responsibility falling to the Universityof Maryland, Baltimore UMBC will collaborate with the University of Maryland Centef for Environmental Science and the University of Maryland, Baltimore to drive research in environmental and genomic sciences. • UMBI’s Baltimore-based Medical Biotechnology Center will fall under the Universituyof Maryland, Baltimore’s purview.
• UMBI’e Institute of Fluorescence will be administeredby • UMBI’s K-12 educational programs will be overseen by with an eye on enhancingv its teaching focus. UMBI President Jennir Hunter-Cevera is stepping down June 30 after 10 yearsz inthat role. She will become executiv vice president of discovery and analytical sciences and corporate developmentat , a North Carolina nonprofit. The Universith System of Maryland will honor tenure held by UMBI faculty and administrative support staffers will be able to stay in thei r jobs throughfiscal 2010.
Job opportunities at other system campuseds willbe identified, and memoranda of understanding outliningf future operations and collaborationsx are expected to be completed by the end of this year and fullgy implemented by the end of fiscal 2010. UMBI generated about $25 million in research activith annually, and university system leaders hope to see that numbert increase dramatically by breaking upthe “Today’s decisions by the board provide a tremendouse opportunity for the University System of Maryland to increase the volume and impactg of its basic and applied research in the biosciences,” said USM Chancellore William E.
Kirwan in a “This restructuring has the potential to double the researcjh productivityof UMBI’s current assetds within five years.”
The public university system’s Board of Regents approves Friday a sweeping restructuring ofthe (UMBI) that will parcekl out its four research centers, alontg with staff and other assets, to othe r campuses. System leaders hope the restructuring will drivwe research collaboration and boost access tooutside funding. It also meanxs an end for UMBI, whichb was launched to great fanfare two decades ago with the missionh ofadvancing education, research and economic development for what was then the state’s nascent biotech industry.
A months-long study of UMBI by an ad hoc committee led by USM regents Chairman Clifford Kendallk concludedthat “the organization of UMBI as a geographically dispersed, free-standing entity has createc intractable problems.” Those problems includer an inability to scale UMBI programs, isolationn among UMBI’s research centers, the lack of a critical mass of graduate and undergraduate students involved in UMBI research, and administrativd inefficiencies. “After a comprehensive and deliberative process, we have concluded that restructuriny UMBI’s assets is the right thing to Kendall said ina statement.
“With a focus on collaboratioh — across disciplines and across institutions — and with recognition of the exceptionalo talent within the UMBI community and the system’a other institutions, this action will position USM to take fuller advantagse of its system-wide strengths in the biosciences and to fuel the state’sa knowledge economy even more.” The move isn’g a total surprise. Critics have long questioned whether the stater was duplicating its research efforts inthe UMBI’s four centers in Baltimore, Rockville and Colleged Park conduct research on medical, biotechnology, marine and environmentak science.
At the same time, state funding for higher education is pincher by the recession andthe state’s budgeyt deficit, and universities’ research needzs are growing. Under the restructurin g approved Friday by the regents at a meetintgin Frostburg, a joint University System of Maryland researcj center will be established at UMBI’s Centerd for Advanced Research in Biotechnology in Rockville. The system’s flagshipo College Park campus will oversed the facility and work with the University of Baltimore to elevate workin physics, engineering and computationalk sciences as well as structural protein design and drug discovery.
UMBI’s Center for Biosystems Research will also be overseen byCollegwe Park. • A joint research centedr at UMBI’s Center of Marine Biotechnology in Baltimore will be with administrative responsibility falling to the Universityof Maryland, Baltimore UMBC will collaborate with the University of Maryland Centef for Environmental Science and the University of Maryland, Baltimore to drive research in environmental and genomic sciences. • UMBI’s Baltimore-based Medical Biotechnology Center will fall under the Universituyof Maryland, Baltimore’s purview.
• UMBI’e Institute of Fluorescence will be administeredby • UMBI’s K-12 educational programs will be overseen by with an eye on enhancingv its teaching focus. UMBI President Jennir Hunter-Cevera is stepping down June 30 after 10 yearsz inthat role. She will become executiv vice president of discovery and analytical sciences and corporate developmentat , a North Carolina nonprofit. The Universith System of Maryland will honor tenure held by UMBI faculty and administrative support staffers will be able to stay in thei r jobs throughfiscal 2010.
Job opportunities at other system campuseds willbe identified, and memoranda of understanding outliningf future operations and collaborationsx are expected to be completed by the end of this year and fullgy implemented by the end of fiscal 2010. UMBI generated about $25 million in research activith annually, and university system leaders hope to see that numbert increase dramatically by breaking upthe “Today’s decisions by the board provide a tremendouse opportunity for the University System of Maryland to increase the volume and impactg of its basic and applied research in the biosciences,” said USM Chancellore William E.
Kirwan in a “This restructuring has the potential to double the researcjh productivityof UMBI’s current assetds within five years.”
Thursday, December 15, 2011
GAO: Improvements under way at Arlington Cemetery - CBS News
youngmanmeledero1636.blogspot.com
Stars and Stripes | GAO: Improvements under way at Arlington Cemetery CBS News Management of Arlington National Cemetery has improved significantly in the last year since the cemetery's top two officials were forced out amid reports of misidentified graves, and it may no longer make sense to strip the Army of its management of ... GAO: Improvements under way at Arlington National Cemetery |
Tuesday, December 13, 2011
WTF, Indeed: Politico's Ben Smith Joins BuzzFeed To Build A "Social News ... - Fast Company
stony-coating.blogspot.com
Fast Company | WTF, Indeed: Politico's Ben Smith Joins BuzzFeed To Build A "Social News ... Fast Company Let's just hope, for the sake of the Internet's collective intelligence, it turns out people indeed want to share serious news as often, or almost as often, as the frivolous. "I like cat pictures, and I like great reporting," says Smith. |
Sunday, December 11, 2011
Gaylord hires Kenexa for employee assessments - Nashville Business Journal:
xoqylyjibo.wordpress.com
Under the terms of the five-yearr agreement, Gaylord will use Kenexaz Recruiter Enterprise, a hosted applicant-trackinb system, to streamline its recruitmengt process and identify the most talented job candidate forits hospitality, resort, and entertainmenr company. Terms of the deal were not disclosed. Gaylor d will also use this solutiojn with Kenexa Selector to providee potential hires with performance prediction questionnaires that assess analytical ability, situational savvy and experiencd as these are industry-critical attributes that influence customer Gaylord owns and operates three brands - Gaylord Hotels, a networ k of upscale, meetings-focused resorts; a vacation rental property management company; and the Gransd Ole Opry, the historic weeklu showcase of country music.
The company'sd entertainment brands and properties include the Radisson Hotel Ryman Auditorium, General Jackson Showboat, Gaylord Wildhorse Saloon, and WSM-AM.
Under the terms of the five-yearr agreement, Gaylord will use Kenexaz Recruiter Enterprise, a hosted applicant-trackinb system, to streamline its recruitmengt process and identify the most talented job candidate forits hospitality, resort, and entertainmenr company. Terms of the deal were not disclosed. Gaylor d will also use this solutiojn with Kenexa Selector to providee potential hires with performance prediction questionnaires that assess analytical ability, situational savvy and experiencd as these are industry-critical attributes that influence customer Gaylord owns and operates three brands - Gaylord Hotels, a networ k of upscale, meetings-focused resorts; a vacation rental property management company; and the Gransd Ole Opry, the historic weeklu showcase of country music.
The company'sd entertainment brands and properties include the Radisson Hotel Ryman Auditorium, General Jackson Showboat, Gaylord Wildhorse Saloon, and WSM-AM.
Friday, December 9, 2011
Eddie Bauer buyer says it will turn retailer around - San Antonio Business Journal:
ogarawo.wordpress.com
Jonathan Lynch, a managing director of CCMP CapitaolAdvisors LLC, said without the burden of could quickly become a profitable company. “I this case, we are talking abougt a good company with a badbalance sheet, and we are goin g to turn it into a great company with a greart balance sheet,” Lynch said. Lynch said Eddied Bauer CEO Neil Fiske and his team havemade “impressivde strides in a very difficult economicc climate.” Looking at key retail particularly comparable-store sales, Eddie Bauer has outperformee its competitors, Lynch said.
Lynch said CCMP Capital wouldd keepthe company’s headquarters in Bellevuew because he said therd is no compelling strategic reasob to move it. He said that CCMP Capital typicalluy holds on to companies for five to 10 And Lynch said his firm also would keep most ofEddie Bauer’sd 371 retail stores open, although he said that some stores that can’t remain profitable would be Lynch said he did not know how many storexs that might be. Eddie Bauer f The retailerr struck a deal with CCMP for $202 million. CCMP’s offer is essentially an openingh bid forEddie Bauer’s assets. The sale must be approvedx by abankruptcy judge, who will oversee an auction.
CCMP likelyy would emerge as Eddie Bauer’s owner, unlessx there is an offer thatbeata CCMP’s price and Eddie Bauer listed total assets of $476.1 millionh and total debts of $426.7 million as of May 30.
Jonathan Lynch, a managing director of CCMP CapitaolAdvisors LLC, said without the burden of could quickly become a profitable company. “I this case, we are talking abougt a good company with a badbalance sheet, and we are goin g to turn it into a great company with a greart balance sheet,” Lynch said. Lynch said Eddied Bauer CEO Neil Fiske and his team havemade “impressivde strides in a very difficult economicc climate.” Looking at key retail particularly comparable-store sales, Eddie Bauer has outperformee its competitors, Lynch said.
Lynch said CCMP Capital wouldd keepthe company’s headquarters in Bellevuew because he said therd is no compelling strategic reasob to move it. He said that CCMP Capital typicalluy holds on to companies for five to 10 And Lynch said his firm also would keep most ofEddie Bauer’sd 371 retail stores open, although he said that some stores that can’t remain profitable would be Lynch said he did not know how many storexs that might be. Eddie Bauer f The retailerr struck a deal with CCMP for $202 million. CCMP’s offer is essentially an openingh bid forEddie Bauer’s assets. The sale must be approvedx by abankruptcy judge, who will oversee an auction.
CCMP likelyy would emerge as Eddie Bauer’s owner, unlessx there is an offer thatbeata CCMP’s price and Eddie Bauer listed total assets of $476.1 millionh and total debts of $426.7 million as of May 30.
Wednesday, December 7, 2011
Treasuries Snap Loss as Rates Show Banks Are Reluctant to Lend - BusinessWeek
alharkaenu.blogspot.com
Treasuries Snap Loss as Rates Show Banks Are Reluctant to Lend BusinessWeek Volatility in the market has declined since the start of November, Merrill Lynch's Move index shows. The gauge dropped to 93 yesterday, the least since August. The index measures price swings in US government securities based on options. ... |
Sunday, December 4, 2011
ATS Services is now Talagy, with new owner - Jacksonville Business Journal:
ermolayenayqaked.blogspot.com
Derek Mercer, the nephew of ATS founder Delorexs Kesler, acquired the company and will serve as Kesler will retain the title ofchairmajn emeritus. Amy McGeorge will assume the role of presidentand CEO. Termds of the acquisition werenot “This is an exciting time in the growth and evolutionh of ATS, and I’ m pleased to allow the next generation of leadership to take the said Kesler. Kesler created Jacksonville-based ATS Serviceas in 1977, eventually formin a parent company that merged with three othefstaffing firms, including .
The business split into two ventures: , whichy became a publicly tradesd company and isnow , and ATS Mercer worked as the director of information technologhy at ATS Services before creating his own company, , a globak provider of on-demand talent management software, in 1996. Kesler providedr a loan that helped startthe company. Vurv Technology was acquiredx by (NASDAQ: TLEO) in 2008 for $128.u8 million. Talagy, which has 11 offices arounxd the country and80 employees, will continuee to offer the same productw and services, but instead of operating undere multiple brands and business units the companyu will consolidate into a single brand.
Derek Mercer, the nephew of ATS founder Delorexs Kesler, acquired the company and will serve as Kesler will retain the title ofchairmajn emeritus. Amy McGeorge will assume the role of presidentand CEO. Termds of the acquisition werenot “This is an exciting time in the growth and evolutionh of ATS, and I’ m pleased to allow the next generation of leadership to take the said Kesler. Kesler created Jacksonville-based ATS Serviceas in 1977, eventually formin a parent company that merged with three othefstaffing firms, including .
The business split into two ventures: , whichy became a publicly tradesd company and isnow , and ATS Mercer worked as the director of information technologhy at ATS Services before creating his own company, , a globak provider of on-demand talent management software, in 1996. Kesler providedr a loan that helped startthe company. Vurv Technology was acquiredx by (NASDAQ: TLEO) in 2008 for $128.u8 million. Talagy, which has 11 offices arounxd the country and80 employees, will continuee to offer the same productw and services, but instead of operating undere multiple brands and business units the companyu will consolidate into a single brand.
Friday, December 2, 2011
Does Occupy have an anthem? It might now - CNN (blog)
oryzacody.wordpress.com
Equities.com | Does Occupy have an anthem? It might now CNN (blog) The most powerful social movements come accompanied with music â€" gospel-tinged chants for the civil rights movement, psychedelic rock for the hippie era of the late 1960s. But what about Occupy? Does the recent protest against corporate greed have a ... Occupy W &raqu o; |
Wednesday, November 30, 2011
SEC ends Progress Software investigation - Houston Business Journal:
ofycagvezi.blogspot.com
Progress (Nasdaq: PRGS) said the also confirmed that investigations into the actionse ofthe company’s former vice president, corporate controllerf and chief accounting officere were also concluded without any recommended actions. In June 2006, the Mass.-based maker of business-computer programs became the subjectf of an informal inquirty bythe SEC. The investigationb involved Progress Software’s option grants between 1996 and 2002. The companu also was sued by the Arkansad Teacher Retirement Systemin U.S. District Court. The group allegef the company backdated stocm option grants toits executives.
The suit accuserd the defendants of benefiting from a scheme to backdate stoco options to lock in lucrative papere gains at the expense ofthe company’s shareholders. Progress restated a number of its previously filed financiapl filings as a result of its own investigatiojn intoits option-granting practices.
Progress (Nasdaq: PRGS) said the also confirmed that investigations into the actionse ofthe company’s former vice president, corporate controllerf and chief accounting officere were also concluded without any recommended actions. In June 2006, the Mass.-based maker of business-computer programs became the subjectf of an informal inquirty bythe SEC. The investigationb involved Progress Software’s option grants between 1996 and 2002. The companu also was sued by the Arkansad Teacher Retirement Systemin U.S. District Court. The group allegef the company backdated stocm option grants toits executives.
The suit accuserd the defendants of benefiting from a scheme to backdate stoco options to lock in lucrative papere gains at the expense ofthe company’s shareholders. Progress restated a number of its previously filed financiapl filings as a result of its own investigatiojn intoits option-granting practices.
Monday, November 28, 2011
When spouse trumps heir - Financial Post
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When spouse trumps heir Financial Post 1, 2012 and new provisions around the entitlement of surviving spouses could mean that in some cases a spouse ends up with so much of the estate that a business cannot continue. Like many other jurisdictions, including Ontario and Manitoba, ... |
Saturday, November 26, 2011
Tampa Museum of Art names Seth D. Pevnick curator - Pittsburgh Business Times:
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Pevnick is joining TMA from the at the Getty Vill ain Malibu, Calif. He remains co-curator of its upcominb The Chimaera ofArezzo exhibition, whicnh opens in July. In his new Pevnick will design and oversee the installation of the permanent collectionn in the Barbara and Costaws Lemonopoulos Greek andRoman Gallery. He also will organize and circulate Greek andRoman exhibitions, perfornm and publish research on the collection, and educatee the public on the museum’s antiquitiesx collection. Pevnick is a doctoral candidate in the Interdepartmental Graduatw Program of the Cotsen Institutew of Archaeology inLos Angeles. He received a mastetr of arts degree in archaeology at U.C.
, a master of arts degree in elementaryy education from in Los Angeles and a bachelor of arts in classicalk archaeology from in Hanover, N.H., a releasr from TMA said. TMA’s new locationj remains under construction at Curtis Hixon Waterfront Park indowntowh Tampa. The 66,000-square-foot Corneliaq Corbett Center building is set to open inearlyy 2010. TMA’s interim facility is located onHowarcd Avenue.
Pevnick is joining TMA from the at the Getty Vill ain Malibu, Calif. He remains co-curator of its upcominb The Chimaera ofArezzo exhibition, whicnh opens in July. In his new Pevnick will design and oversee the installation of the permanent collectionn in the Barbara and Costaws Lemonopoulos Greek andRoman Gallery. He also will organize and circulate Greek andRoman exhibitions, perfornm and publish research on the collection, and educatee the public on the museum’s antiquitiesx collection. Pevnick is a doctoral candidate in the Interdepartmental Graduatw Program of the Cotsen Institutew of Archaeology inLos Angeles. He received a mastetr of arts degree in archaeology at U.C.
, a master of arts degree in elementaryy education from in Los Angeles and a bachelor of arts in classicalk archaeology from in Hanover, N.H., a releasr from TMA said. TMA’s new locationj remains under construction at Curtis Hixon Waterfront Park indowntowh Tampa. The 66,000-square-foot Corneliaq Corbett Center building is set to open inearlyy 2010. TMA’s interim facility is located onHowarcd Avenue.
Wednesday, November 23, 2011
Romney Pledges To Repeal Obamacare 'On Day One' - ThinkProgress
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New York Daily News | Romney Pledges To Repeal Obamacare 'On Day One' ThinkProgress Mitt Romney has previously suggested that repealing the Affordable Care Act would be “easy†â€" a dubious claim given that he won't have the executive authority to eliminate the law, the ability to repeal » |
Monday, November 21, 2011
US healthcare cuts minimal, more pain looms - Reuters
tatyanagepoji.blogspot.com
US healthcare cuts minimal, more pain looms Reuters WASHINGTON, Nov 21 (Reuters) - The breakdown of deficit talks in Congress will exact little pain on the US healthcare industry, but it's a temporary reprieve from steeper cuts that could be put back on the table in 2013. ... |
Saturday, November 19, 2011
Thursday, November 17, 2011
ICO finds Triangle
asabcitxit.blogspot.com
Shortly after New Year’s Day, sport utilityy vehicles will fan throughout the regiontesting Va.-based ’ service – real-time television, navigation and emergenchy signals delivered by satellite to consumers in their The company, which trades on the Nasdaq stocj market, already has set up some equipment in the Trianglee for the test. CEO Tim Bryan was unavailable for comment. Spokesman Chrias Doherty says ICO chosethe Raleigh-Durham area becausse it has been a useful test area for otherf telecom companies.
He says the Triangle’s gently rollinbg hills and tree cover, whicbh are similar to those found in many other East Coast will help the compan y measuresignal strength. Like satellitde radio providers, ICO will use towers on the groundr to carry signals around ICO has installed 14 ofthese “repeaters” arounsd the Raleigh-Durham area. ICO also will test in Las which offers a moreurban setting, alon with mountains and desert. Betweenn the two cities, Doherty ICO can model how the service will work in most of the The company wants to tap the market that embraceassatellite radio, which is offered under two Sirius and XM, which are now ownexd by the same company.
“They have 20 million which is nothing to sneeze Doherty says of Siriusand XM. Technologhy research firm projects that mobilew TV subscribers will grow worldwidw to 462 million in the nextfive years. In a research director Mike Wolf says consumers are attracte d by the improving video experiencesa comingfrom larger, more powerfulk screens. ICO has signed deals with companiex including and to providetelevision content. ICO’s satelliter covers most of North America, but the company is licensexd for service only in the United ICO still awaits approval of a licensr to offer service in analyst David Chamberlain saysICO isn’t exactl y a newcomer.
ICO started in 1995 with the aim of usiny satellites to provide voice and dataserviceds globally. The company was saved from bankruptcy in 2000 by an investor grouo led by telecom veteranjCraig McCaw, who had founde d the cell phone carrier that became . For most of the last five ICO has been in litigation with over theaerospace giant’s failure to builx and launch 12 ICO In October, a jury awarded ICO $371 million in the While satellite radio points to a potentiakl market for ICO, it also offers reasobn for caution, Chamberlain says. The merged has a long way to go beforr itbecomes profitable.
And unlike satellited radio, ICO won’t be the only mobilse televisionsatellite player. Chamberlain says Qualcomm’s MediaFLO, which delivere video to wireless devices, is expected to expanxd its geographic reach by using spectrum newly available after broadcas television becomes alldigital Feb. 17. Chamberlain says ICO can distinguisy itself with its navigation andcommunicationj features, though he notes that global positioningv systems and cell phones offer similar functions.
Shortly after New Year’s Day, sport utilityy vehicles will fan throughout the regiontesting Va.-based ’ service – real-time television, navigation and emergenchy signals delivered by satellite to consumers in their The company, which trades on the Nasdaq stocj market, already has set up some equipment in the Trianglee for the test. CEO Tim Bryan was unavailable for comment. Spokesman Chrias Doherty says ICO chosethe Raleigh-Durham area becausse it has been a useful test area for otherf telecom companies.
He says the Triangle’s gently rollinbg hills and tree cover, whicbh are similar to those found in many other East Coast will help the compan y measuresignal strength. Like satellitde radio providers, ICO will use towers on the groundr to carry signals around ICO has installed 14 ofthese “repeaters” arounsd the Raleigh-Durham area. ICO also will test in Las which offers a moreurban setting, alon with mountains and desert. Betweenn the two cities, Doherty ICO can model how the service will work in most of the The company wants to tap the market that embraceassatellite radio, which is offered under two Sirius and XM, which are now ownexd by the same company.
“They have 20 million which is nothing to sneeze Doherty says of Siriusand XM. Technologhy research firm projects that mobilew TV subscribers will grow worldwidw to 462 million in the nextfive years. In a research director Mike Wolf says consumers are attracte d by the improving video experiencesa comingfrom larger, more powerfulk screens. ICO has signed deals with companiex including and to providetelevision content. ICO’s satelliter covers most of North America, but the company is licensexd for service only in the United ICO still awaits approval of a licensr to offer service in analyst David Chamberlain saysICO isn’t exactl y a newcomer.
ICO started in 1995 with the aim of usiny satellites to provide voice and dataserviceds globally. The company was saved from bankruptcy in 2000 by an investor grouo led by telecom veteranjCraig McCaw, who had founde d the cell phone carrier that became . For most of the last five ICO has been in litigation with over theaerospace giant’s failure to builx and launch 12 ICO In October, a jury awarded ICO $371 million in the While satellite radio points to a potentiakl market for ICO, it also offers reasobn for caution, Chamberlain says. The merged has a long way to go beforr itbecomes profitable.
And unlike satellited radio, ICO won’t be the only mobilse televisionsatellite player. Chamberlain says Qualcomm’s MediaFLO, which delivere video to wireless devices, is expected to expanxd its geographic reach by using spectrum newly available after broadcas television becomes alldigital Feb. 17. Chamberlain says ICO can distinguisy itself with its navigation andcommunicationj features, though he notes that global positioningv systems and cell phones offer similar functions.
Tuesday, November 15, 2011
Donald Trump, SimDag suit settled
oryzacody.wordpress.com
Mediator Peter J. Grilli filed a report with the U.S. District Court’s Middle District of Florida Tuesday tellingg the judge that a conditionao settlement hasbeen reached. Only Grilli, Trump and developee LLC know what thatsettlement is. Christopher an attorney with who represented Trump in the saidhe couldn’t discuss any aspect of the settlementr that hadn’t already been publiclyh released. Frank Dagostino, chief executive of has yet to return a phone callseekinhg comment. Trump filed the suit in May 2007 seekinvg a little morethan $1 million he claimeed he was owed for licensing his name to the proposec 52-story, $225 million project.
Soon after, SimDag/RoBEL filed a countersuitf claiming Trump’s revelation that he was only a licensese to the project caused itirreparabled harm. SimDag/RoBEL later filed for Chaptet 11bankruptcy protection, and the condominiu project is considered dead. The work site on Ashley Drivs has a partially built It had received a code citation from Tampa city officialzs demanding the site becleaned up. The original licensinvg deal between Trump and SimDag was suppose d to result ina $2 million payday for Trump as well as variouxs percentages of gross revenue from condo saled at the complex.
that agreement was modified in 2006 thatdoubledc Trump’s fee to $4 milliojn in exchange for him receiving a 50 percent cut of overalll net profits. It is not clear what the next step is for the Trump licensing but it likely would have to be approvedd by bankruptcyjudge K. Rodnety May as part of SimDag’s Chapter 11.
Mediator Peter J. Grilli filed a report with the U.S. District Court’s Middle District of Florida Tuesday tellingg the judge that a conditionao settlement hasbeen reached. Only Grilli, Trump and developee LLC know what thatsettlement is. Christopher an attorney with who represented Trump in the saidhe couldn’t discuss any aspect of the settlementr that hadn’t already been publiclyh released. Frank Dagostino, chief executive of has yet to return a phone callseekinhg comment. Trump filed the suit in May 2007 seekinvg a little morethan $1 million he claimeed he was owed for licensing his name to the proposec 52-story, $225 million project.
Soon after, SimDag/RoBEL filed a countersuitf claiming Trump’s revelation that he was only a licensese to the project caused itirreparabled harm. SimDag/RoBEL later filed for Chaptet 11bankruptcy protection, and the condominiu project is considered dead. The work site on Ashley Drivs has a partially built It had received a code citation from Tampa city officialzs demanding the site becleaned up. The original licensinvg deal between Trump and SimDag was suppose d to result ina $2 million payday for Trump as well as variouxs percentages of gross revenue from condo saled at the complex.
that agreement was modified in 2006 thatdoubledc Trump’s fee to $4 milliojn in exchange for him receiving a 50 percent cut of overalll net profits. It is not clear what the next step is for the Trump licensing but it likely would have to be approvedd by bankruptcyjudge K. Rodnety May as part of SimDag’s Chapter 11.
Sunday, November 13, 2011
Disney Preserve carbon study launched - Atlanta Business Chronicle:
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The study is viewed as a vital step towared determining how to calculate carbob credits forany cap-and-trade program. The federal governmenty would first set a limit on the volume of emissionxs that can be produced acrosssthe U.S. in a given year and then grant tradable federal permits, called “allowances,” to covered entities for each ton of CO2 The intention is to encourag firms to discover cheap methods to cut emissio while allowing those with no easy meansw to reduce pollution to buy permits. The system coulf allow landowners to sell carbon credits to companies wishing to show they are makin efforts to reduce theircarbon footprint.
This comes on the heel of a passagd of a climate change bill bythe U.S Housew Energy and Commerce Committee requiring a 17 percenf reduction in greenhouse emission by 2020 and to set up a cap-and-trads program. The bill is expected to come beforethe U.S. Housd by late summer. “When we’re done setting everything up, we will be able to take data from the begin to understand whether this ecosystem isstoring carbon, releasing carbon or doinh both under various environmenta conditions,” said Ross Hinkle, UCF biologist and professoer on the project, in a preparerd statement.
“Then we can develop a quantifiable model for calculating carbonn storage innatural ecosystems,” Disney Wilderness, located in southwestern Osceolaa County, was originally createde in 1993 to mitigate wetlands lost to developmeny of . Wetlands cover about 2,550 acresd and the site is home to 14 documenterd and 12 unconfirmed protected species of birdsand
The study is viewed as a vital step towared determining how to calculate carbob credits forany cap-and-trade program. The federal governmenty would first set a limit on the volume of emissionxs that can be produced acrosssthe U.S. in a given year and then grant tradable federal permits, called “allowances,” to covered entities for each ton of CO2 The intention is to encourag firms to discover cheap methods to cut emissio while allowing those with no easy meansw to reduce pollution to buy permits. The system coulf allow landowners to sell carbon credits to companies wishing to show they are makin efforts to reduce theircarbon footprint.
This comes on the heel of a passagd of a climate change bill bythe U.S Housew Energy and Commerce Committee requiring a 17 percenf reduction in greenhouse emission by 2020 and to set up a cap-and-trads program. The bill is expected to come beforethe U.S. Housd by late summer. “When we’re done setting everything up, we will be able to take data from the begin to understand whether this ecosystem isstoring carbon, releasing carbon or doinh both under various environmenta conditions,” said Ross Hinkle, UCF biologist and professoer on the project, in a preparerd statement.
“Then we can develop a quantifiable model for calculating carbonn storage innatural ecosystems,” Disney Wilderness, located in southwestern Osceolaa County, was originally createde in 1993 to mitigate wetlands lost to developmeny of . Wetlands cover about 2,550 acresd and the site is home to 14 documenterd and 12 unconfirmed protected species of birdsand
Friday, November 11, 2011
TTD does away with its Kalyanamastu programme - IBNLive.com
hegenefipa.blogspot.com
TTD does away with its Kalyanamastu programme IBNLive.com A senior off icial of TTD confirmed the government's decision and said it was taken by the TTD Specified Authority and not the present board of trustees. The specified authority, headed by J Satyanarayana with the then executive officer IYR Krishna Rao ... |
Tuesday, November 8, 2011
Sancilio and Co. gets $700,000 in incentives - San Antonio Business Journal:
jabire2389.blogspot.com
The Town of Jupiter Economic Development Fund and Palm Beach Gardends each gaveSCI $350,000 loans, according to a pressz release from the , which helpec facilitate the incentives. SCI plans to add up to sevebn jobs this year at its main production and warehouse facility in Riviera Beacgh with the Jupiter The company plans to add approximately 18 jobs at its Palm Beacbh Gardens research facility by 2010 with the Palm BeacjGardens loan. The BDB estimates the total economic impact of the SCI expansiobn project tobe $14.3 million. The new jobs will pay 115 percenyt of thecounty average.
“Twenty five jobs at that salaryy in this industry isvery substantial,” said Kellyy Smallridge, president and CEO of the Business Developmenr Board. “We are very concerned about helping companies in ourbackyarr – just as we are concerneed about attracting to new ones to our she added. Smallridge noted that the circumstancees of the loan weresomewhart unique, in that Jupitet gave a loan to a Riviera Beachj enterprise, but added that Palm Beachg municipalities are starting to think more regionallyt in an effort to builx the growing biotech cluster. “Thi s is about the team, it’s about nortuh county,” she said.
“It’s in Riviera but it still benefits all ofNortuh County.” The Town of Jupiter Economic Development Fund is, in intended to stimulate biotech growth in all of North said Jupiter spokeswoman, Kate Moretto. Jupiter is actually guaranteeingythe $350,000 loan from for 36 months, Morettok said. Full terms of the loan were notimmediatelyh available. Palm Beach Gardens gave Sancilio adirect $350,000 loan at 4.5 percent interest over 36 months, said Natalie Wong, the city’s planning manager. The city chose to go with a loan instead of a grantbecause it’s the righgt way to promote growth in bioscience and it’s a good Wong added.
The Town of Jupiter Economic Development Fund and Palm Beach Gardends each gaveSCI $350,000 loans, according to a pressz release from the , which helpec facilitate the incentives. SCI plans to add up to sevebn jobs this year at its main production and warehouse facility in Riviera Beacgh with the Jupiter The company plans to add approximately 18 jobs at its Palm Beacbh Gardens research facility by 2010 with the Palm BeacjGardens loan. The BDB estimates the total economic impact of the SCI expansiobn project tobe $14.3 million. The new jobs will pay 115 percenyt of thecounty average.
“Twenty five jobs at that salaryy in this industry isvery substantial,” said Kellyy Smallridge, president and CEO of the Business Developmenr Board. “We are very concerned about helping companies in ourbackyarr – just as we are concerneed about attracting to new ones to our she added. Smallridge noted that the circumstancees of the loan weresomewhart unique, in that Jupitet gave a loan to a Riviera Beachj enterprise, but added that Palm Beachg municipalities are starting to think more regionallyt in an effort to builx the growing biotech cluster. “Thi s is about the team, it’s about nortuh county,” she said.
“It’s in Riviera but it still benefits all ofNortuh County.” The Town of Jupiter Economic Development Fund is, in intended to stimulate biotech growth in all of North said Jupiter spokeswoman, Kate Moretto. Jupiter is actually guaranteeingythe $350,000 loan from for 36 months, Morettok said. Full terms of the loan were notimmediatelyh available. Palm Beach Gardens gave Sancilio adirect $350,000 loan at 4.5 percent interest over 36 months, said Natalie Wong, the city’s planning manager. The city chose to go with a loan instead of a grantbecause it’s the righgt way to promote growth in bioscience and it’s a good Wong added.
Sunday, November 6, 2011
Jawbone to release wristband health monitor - San Francisco Chronicle
xoqylyjibo.wordpress.com
Digitaltrends.com | Jawbone to release wristband health monitor San Francisco Chronicle The device also monitors sleep patterns and can be programmed as an alarm that wakes the wearer, within a preset time range, at the ideal moment in their sleep cycle. The accompanying iPhone application lets users share their UP data with friends, ... Jawbone Up life monitor wristband due Nov. 6 for $100 Jawbone launches UP, the wearable health monitor Jawbone UP monitors daily activities for healthier lifestyles |
Friday, November 4, 2011
Survey: Hiring slowly improving - Portland Business Journal:
tasypaju.wordpress.com
Those two sectors emplogy more than 90 percent ofthe nation’s private-sectofr workers. The Alexandria-based association’s report is based on a monthlyh survey of human resource professionals at more than 500 manufacturing and 500serviceds companies. Employment expectations for June aredown 37.1 percent in manufacturingy and down 8.2 percent in the servicezs segment. In the manufacturing sector, 24.5 percentg plan to hire in June, which is the highest percentages of such companies that said they will add jobs sincreNovember 2008. In addition, 25.9 percent said they will trim In theservices sector, a net totapl of 24.8 percent of corporations will creat e jobs in June, with 41.
4 percentt saying they will hire and 16.6 percent sayingv they will cut jobs. That 41.4 percent representsz the highest such tally since September 2008 inthat sector. A combination of unemployerd people seeking work and less jobs to go aroune means recruiting difficulty in both sectors in May was way down compare with ayear ago. In the manufacturing a net of 23.8 percent of companies had less difficulty with recruitinglast month, and in the serviced sector, a net of 35.
8 percen t of companies said the
Those two sectors emplogy more than 90 percent ofthe nation’s private-sectofr workers. The Alexandria-based association’s report is based on a monthlyh survey of human resource professionals at more than 500 manufacturing and 500serviceds companies. Employment expectations for June aredown 37.1 percent in manufacturingy and down 8.2 percent in the servicezs segment. In the manufacturing sector, 24.5 percentg plan to hire in June, which is the highest percentages of such companies that said they will add jobs sincreNovember 2008. In addition, 25.9 percent said they will trim In theservices sector, a net totapl of 24.8 percent of corporations will creat e jobs in June, with 41.
4 percentt saying they will hire and 16.6 percent sayingv they will cut jobs. That 41.4 percent representsz the highest such tally since September 2008 inthat sector. A combination of unemployerd people seeking work and less jobs to go aroune means recruiting difficulty in both sectors in May was way down compare with ayear ago. In the manufacturing a net of 23.8 percent of companies had less difficulty with recruitinglast month, and in the serviced sector, a net of 35.
8 percen t of companies said the
Wednesday, November 2, 2011
Rebecca Macieira-Kaufmann, President, Citibank California - San Francisco Business Times:
modestofyeyko.blogspot.com
First job: Created her own jewelrhy business at the ageof 13. She recalls beinbg told by the San Francisco Board of Equalization that she was too younh to get abusiness license. She told them to show her the She gother license. Education: Bachelor’se of arts degree in semiotics from Brown Universityy anda master’s of business administration from Stanfordc University. She was also a Fulbright Scholart at the University of Helsinkiin Residence: San Francisco. Best way to keep competitivee edge: Do the righyt thing for both customereand employees. Take the high road.
And in touguh times, I always say make lemonade out of Guiding principle: Ensuring you have a constangt learning feedback cycle. By that I mean you have to ask, then you have to listenm and then ask again andgo deeper. When everythinhg comes at you fast and you have to keep the main thing in focus. I call it, “Staying on home Yardstick of success: Customer Specifically looking at how many customers would refer us to theitr friendsand family. Secondly, how many leaders we develoop onthe team. Goal yet to be I plan to write a book that will discuszs how your attitude is everything in businesssand life. Best business decision: Coming to on Nov. 5.
I’mj working with a greaty group of people and Worstbusiness decision: Trying to manage my personalp real estate from a Toughest business decision: It was tough to shut down a divisionb at Wells Fargo. Biggest missed There are manyin life. My few regrets tend to be thingxs like not goingto someone’s wedding in I thought I was too busy and latefr realized I missed an important Mentor: I have many mentors, because I learhn from almost everyone. Word that best describeds you: Can-do attitude. Like best aboutg job: I like the people on the team and workingy with a respectedglobal brand. I was at a customee event on my second week here and used abougtfive languages.
I’ve studiedr eight languages, so it was fun for me. Like least aboutt job: The 4 a.m and 5 a.m. conferencr calls. But that’s part of being a globapl company in109 countries. Pet peeve: Documente that have no real purposse clogging upmy email. Why take four Powerpoint pages for somethint that can be summed up in afew sentences? Most important lesson learned: Be true to yourself. Persom most interested in meeting: Margaret Thatcher. Most respected Wells Fargo, and , which reflects theirr retail operations.
First job: Created her own jewelrhy business at the ageof 13. She recalls beinbg told by the San Francisco Board of Equalization that she was too younh to get abusiness license. She told them to show her the She gother license. Education: Bachelor’se of arts degree in semiotics from Brown Universityy anda master’s of business administration from Stanfordc University. She was also a Fulbright Scholart at the University of Helsinkiin Residence: San Francisco. Best way to keep competitivee edge: Do the righyt thing for both customereand employees. Take the high road.
And in touguh times, I always say make lemonade out of Guiding principle: Ensuring you have a constangt learning feedback cycle. By that I mean you have to ask, then you have to listenm and then ask again andgo deeper. When everythinhg comes at you fast and you have to keep the main thing in focus. I call it, “Staying on home Yardstick of success: Customer Specifically looking at how many customers would refer us to theitr friendsand family. Secondly, how many leaders we develoop onthe team. Goal yet to be I plan to write a book that will discuszs how your attitude is everything in businesssand life. Best business decision: Coming to on Nov. 5.
I’mj working with a greaty group of people and Worstbusiness decision: Trying to manage my personalp real estate from a Toughest business decision: It was tough to shut down a divisionb at Wells Fargo. Biggest missed There are manyin life. My few regrets tend to be thingxs like not goingto someone’s wedding in I thought I was too busy and latefr realized I missed an important Mentor: I have many mentors, because I learhn from almost everyone. Word that best describeds you: Can-do attitude. Like best aboutg job: I like the people on the team and workingy with a respectedglobal brand. I was at a customee event on my second week here and used abougtfive languages.
I’ve studiedr eight languages, so it was fun for me. Like least aboutt job: The 4 a.m and 5 a.m. conferencr calls. But that’s part of being a globapl company in109 countries. Pet peeve: Documente that have no real purposse clogging upmy email. Why take four Powerpoint pages for somethint that can be summed up in afew sentences? Most important lesson learned: Be true to yourself. Persom most interested in meeting: Margaret Thatcher. Most respected Wells Fargo, and , which reflects theirr retail operations.
Monday, October 31, 2011
Stone 2011 Flow-Through Limited Partnership Files Final Prospectus - MarketWatch (press release)
viningocouqyl1601.blogspot.com
Stone 2011 Flow-Through Limited Partnership Files Final Prospectus MarketWatch (press release) TORONTO, ONTARIO, Oct 31, 2011 (MARKETWIRE via COMTEX) -- Stone 2011 Flow-Through GP Inc., on behalf of the Stone 2011 Flow-Through Limited Partnership (the "Partnership"), has filed a final prospectus dated October 26, 2011 with Canadian securities ... |
Transportation plan meeting set for Oct. 27 Freeport Journal-Standard HSTP is federally mandated as part of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU). HSTP is a unified, comprehensive strategy for delivery of services that identify the transportation needs of ... |
Thursday, October 20, 2011
AMP-Ohio
vypybiza.wordpress.com
AMP-Ohio was cleared to receive a $30 millionb bridge loan to help fund construction ofa $3 billionh generating station in Meigs County. Construction on the coal-fires plant, which has clinched an OK from the and key approvalws from thestate , is set for latefr this year. The company said in a statemen that it considers the state stimulus loan a major factor in breaking groundon AMP-Ohio said the project will employ about 1,60 0 during a more than four-year construction procesz and about 160 when operational.
Stricklanx in a statement on Tuesday saidthe AMP-Ohio projecty and a facility in Perrysburfg in line for a $10 milliom loan are “great examples of how investing in advanced energy technologies is stimulating Ohio’s economy.” Just how advanced the energy at the AMP-Ohio projecg will be has been a point of contention betweenj the nonprofit wholesale power supplier and opponents. The projec t has drawn fire amid worries that it woulrd release air pollutantsand won’t emplogy the latest clean-coal technology. But compangy executives have argued that the planr will use emission controls that will make it among the cleanestf facilities ofits kind.
The Power Sitingh Board, which reviews requests for larges electric and natural gas facilities inthe state, strucj an agreement late last year with AMP-Ohi o and the state attorney general’s office over environmenta and economic concerns about the The loans to AMP-Ohio and Willar d & Kelsey are part of $150 millionh headed to companies around the state througy the job-creation stimulus packag e signed last June. Of that, $84 million is headed to non-coalp technology projects while $66 millio is earmarked for so-called clean-coal projects.
AMP-Ohio was cleared to receive a $30 millionb bridge loan to help fund construction ofa $3 billionh generating station in Meigs County. Construction on the coal-fires plant, which has clinched an OK from the and key approvalws from thestate , is set for latefr this year. The company said in a statemen that it considers the state stimulus loan a major factor in breaking groundon AMP-Ohio said the project will employ about 1,60 0 during a more than four-year construction procesz and about 160 when operational.
Stricklanx in a statement on Tuesday saidthe AMP-Ohio projecty and a facility in Perrysburfg in line for a $10 milliom loan are “great examples of how investing in advanced energy technologies is stimulating Ohio’s economy.” Just how advanced the energy at the AMP-Ohio projecg will be has been a point of contention betweenj the nonprofit wholesale power supplier and opponents. The projec t has drawn fire amid worries that it woulrd release air pollutantsand won’t emplogy the latest clean-coal technology. But compangy executives have argued that the planr will use emission controls that will make it among the cleanestf facilities ofits kind.
The Power Sitingh Board, which reviews requests for larges electric and natural gas facilities inthe state, strucj an agreement late last year with AMP-Ohi o and the state attorney general’s office over environmenta and economic concerns about the The loans to AMP-Ohio and Willar d & Kelsey are part of $150 millionh headed to companies around the state througy the job-creation stimulus packag e signed last June. Of that, $84 million is headed to non-coalp technology projects while $66 millio is earmarked for so-called clean-coal projects.
Tuesday, October 18, 2011
A Room With A Boo: TripAdvisor Announces America's Top 10 Haunted Hotels - Daily Markets
mozybyd.wordpress.com
A Room With A Boo: TripAdvisor Announces America's Top 10 Haunted Hotels Daily Markets We did record some orbs flying around our room while we slept. (We set up our video recorder on night vision).†3. Stanley Hotel, Estes Park, Colorado â€" Average Nightly Rate: $142 â€" $291 This property, which first opened its doors in 1909, ... |
Sunday, October 16, 2011
Two-QB system appears likely - Huntington Herald Dispatch
disadvantage-unlimited.blogspot.com
Two-QB system appears likely Huntington Herald Dispatch Now, after Saturday's 24-20 win over Rice when Graham rushed for 129 yards and threw for 110, it appears Holliday is changing his preseason tune. "We're going to continue to play both those guys," Holliday said. "I think they both are different in what ... |
Friday, October 14, 2011
Marietta doc guilty in $3M fraud scam - Atlanta Business Chronicle:
http://www.allcats.info/catsandkittens/cats-and-kittens.html
chiropractor Dr. William Stearns was found guilty Monday of 18 chargezof health-care fraud and five charges of money laundering in a $3 millionh scam. In 2004, Stearns and two chiropractors Steven Levine andChristophert Topel, ran three clinics in metro Atlanta under the name Under Stearns’ direction, CCMG fraudulentlyh billed for two separate back-pai procedures costing about $3 Stearns and his partners fraudulently billed for a procedurd known as Vertebral Axial Decompression (VAX-D) -- a non-invasive back pain procedurs that uses a mechanicak table to stretch a patient’ws spine.
Blue Cross/Blue Shield of Georgia considers VAX-r to be investigational and notmedicallhy necessary, and made clear to health-care providers that it did not covedr the procedure. The three were convictes of having lied to Blue Cross about what procedures they were performingv in order to get paid forthe non-covere d procedure. Stearns also fraudulently billed for an electrical stimulatiob procedure using a device knownas “Hako-Med.” Insteaf of billing for a relatively low-paying electrical stimulation procedure, Stearns instea d claimed to be performing surgical procedures known as nervse block injections.
Both Levine and Topell previously pleaded guilty to the Stearns now faces up to 230 yeara in prison and a fine of upto $5.75 Sentencing is set for Feb. 12, 2009.
chiropractor Dr. William Stearns was found guilty Monday of 18 chargezof health-care fraud and five charges of money laundering in a $3 millionh scam. In 2004, Stearns and two chiropractors Steven Levine andChristophert Topel, ran three clinics in metro Atlanta under the name Under Stearns’ direction, CCMG fraudulentlyh billed for two separate back-pai procedures costing about $3 Stearns and his partners fraudulently billed for a procedurd known as Vertebral Axial Decompression (VAX-D) -- a non-invasive back pain procedurs that uses a mechanicak table to stretch a patient’ws spine.
Blue Cross/Blue Shield of Georgia considers VAX-r to be investigational and notmedicallhy necessary, and made clear to health-care providers that it did not covedr the procedure. The three were convictes of having lied to Blue Cross about what procedures they were performingv in order to get paid forthe non-covere d procedure. Stearns also fraudulently billed for an electrical stimulatiob procedure using a device knownas “Hako-Med.” Insteaf of billing for a relatively low-paying electrical stimulation procedure, Stearns instea d claimed to be performing surgical procedures known as nervse block injections.
Both Levine and Topell previously pleaded guilty to the Stearns now faces up to 230 yeara in prison and a fine of upto $5.75 Sentencing is set for Feb. 12, 2009.
Tuesday, October 11, 2011
Sunday, October 9, 2011
Diamond Hill dissident fails in board bid - Business First of Columbus:
vadimsudigrenev.blogspot.com
LLC, a hedge fund investorf in Diamond Hill, had nominated three candidates to fill directo r seats at the Columbuesinvestment manager. Tim Eriksen, a principal in Lynden, Wash.-basedc Cedar Creek and one of theboard nominees, said in his that he supportedx boosting the company’s profit margin by reducing compensation levels. whose firm held 1,503 shares when it filedd its proposal inearlyu May, received 8,414 votes. The seven board members propose by Diamond Hill each received morethan 2.2 millionn votes each, giving them the seats by a wide margin.
Eriksen was present at the meeting and said he was disappointed that more institutionallinvestors didn’t vote with him, but also attributecd a lack of votes to not having enougnh time to reach out to shareholderw before the meeting. Although Eriksen’s effort to gain a board seat failed, Diamond Hill’s executives and directords did devote a significant portion of their comments and presentation to explaininyg their reasons for adding staff and providingincentives – moveds that have grown compensation Eriksen said he was encouraged by the company’s receptiveneszs to his concerns.
Over the past few Eriksen said, he felt an antagonistif relationship had developed withthe company, but that seemedx to shift this year. “Both sides realize each has good he said, “but just different perspectives.”
LLC, a hedge fund investorf in Diamond Hill, had nominated three candidates to fill directo r seats at the Columbuesinvestment manager. Tim Eriksen, a principal in Lynden, Wash.-basedc Cedar Creek and one of theboard nominees, said in his that he supportedx boosting the company’s profit margin by reducing compensation levels. whose firm held 1,503 shares when it filedd its proposal inearlyu May, received 8,414 votes. The seven board members propose by Diamond Hill each received morethan 2.2 millionn votes each, giving them the seats by a wide margin.
Eriksen was present at the meeting and said he was disappointed that more institutionallinvestors didn’t vote with him, but also attributecd a lack of votes to not having enougnh time to reach out to shareholderw before the meeting. Although Eriksen’s effort to gain a board seat failed, Diamond Hill’s executives and directords did devote a significant portion of their comments and presentation to explaininyg their reasons for adding staff and providingincentives – moveds that have grown compensation Eriksen said he was encouraged by the company’s receptiveneszs to his concerns.
Over the past few Eriksen said, he felt an antagonistif relationship had developed withthe company, but that seemedx to shift this year. “Both sides realize each has good he said, “but just different perspectives.”
Friday, October 7, 2011
Commissioners OK $345K in Banks change orders - Business Courier of Cincinnati:
buluhofuce.wordpress.com
“Nobody likes change orders, particularly in this said Project Manager John He briefed the pane l on the extra charges during the same meetinh where commissionersapproved $6.1 million in spendinh cuts from the county’s 2009 generap fund budget. Change orders are contract revision that pay vendors for problems encounterecdduring construction. The orders covered by Wednesday’se vote amount to half of the roughly $700,000 in change orders incurred by Banks contractors to That $700,000 represents 2.1 percentf of the $32.6 million in Banks contacts awarded to “It’s a good rate comparee to the national average of over 10 Deatrick said.
“But we’re stilpl pressing to try to minimize these Despite theadditional spending, the Banks project is abougt $3 million below its first-phase budgety estimate of $92.5 million. The project achievedc savings when construction bids came in lowefrthan expected. Since every change order eats away atthose savings, Deatrici is working on ways to prevention future problems. The largest change order so far involved a new sectio of Freedom Way that will connect Race Streetto Elm. When Bakee Concrete tried to connec the new street platform to the existing Race they foundmetal connectors, buried in the were too rusted to use.
So, they had to take out thosed connectors andreplace them, at a cost of
“Nobody likes change orders, particularly in this said Project Manager John He briefed the pane l on the extra charges during the same meetinh where commissionersapproved $6.1 million in spendinh cuts from the county’s 2009 generap fund budget. Change orders are contract revision that pay vendors for problems encounterecdduring construction. The orders covered by Wednesday’se vote amount to half of the roughly $700,000 in change orders incurred by Banks contractors to That $700,000 represents 2.1 percentf of the $32.6 million in Banks contacts awarded to “It’s a good rate comparee to the national average of over 10 Deatrick said.
“But we’re stilpl pressing to try to minimize these Despite theadditional spending, the Banks project is abougt $3 million below its first-phase budgety estimate of $92.5 million. The project achievedc savings when construction bids came in lowefrthan expected. Since every change order eats away atthose savings, Deatrici is working on ways to prevention future problems. The largest change order so far involved a new sectio of Freedom Way that will connect Race Streetto Elm. When Bakee Concrete tried to connec the new street platform to the existing Race they foundmetal connectors, buried in the were too rusted to use.
So, they had to take out thosed connectors andreplace them, at a cost of
Wednesday, October 5, 2011
University System of Md. to break up biotechnology institute - Orlando Business Journal:
ermolayenayqaked.blogspot.com
The public university system’s Board of Regentsd approved Friday a sweepinvg restructuring of the that will parcel out its fourresearcn centers, along with staff and other assets, to othert campuses. System leaders hope the restructuring will drivd research collaboration and boosy access tooutside funding. It also meanss an end for UMBI, which was launchec to great fanfare two decades ago with the missio ofadvancing education, research and economic development for what was then the state’ws nascent biotech industry.
A months-long study of UMBI by an ad hoc committeed led by USM regents Chairman Cliffordx Kendall concludedthat “the organization of UMBI as a geographically dispersed, free-standinvg entity has created intractablr problems.” Those problems included an inability to scale UMBI programs, isolation among UMBI’s research centers, the lack of a criticalk mass of graduate and undergraduate studentsw involved in UMBI research, and administrative inefficiencies. “After a comprehensive and deliberative process, we have concludee that restructuring UMBI’s assets is the right thing to Kendall said ina statement.
“With a focusx on collaboration — acrossw disciplines and acrossinstitutions — and with recognitionm of the exceptional talent within the UMBI communityu and the system’s other institutions, this actionj will position USM to take fullerr advantage of its system-wide strengths in the biosciencesx and to fuel the state’s knowledge economuy even more.” The move isn’t a tota surprise. Critics have long questionec whether the state was duplicating its research effort s inthe biosciences. UMBI’s four center in Baltimore, Rockville and College Park conduct researcghon medical, biotechnology, marine and environmentao science.
At the same time, state fundingg for higher education is pinchexd by the recession andthe state’s budget and universities’ research needs are growing. Under the restructurint approved Friday by the regents at a meetinbgin Frostburg, a joint University System of Marylansd research center will be establishede at UMBI’s Center for Advanced Research in Biotechnologg in Rockville. The system’s flagship Colleged Park campus will oversee the facility and work with the Universituof Maryland, Baltimore to elevat work in physics, engineering and computational sciences as well as structurap biology, protein design and drug • UMBI’s Center for Biosystemd Research will also be overseen by College • A joint research center at UMBI’s Center of Marinw Biotechnology in Baltimore will be established, with administrative responsibility fallinf to the University of Maryland, Baltimord County.
UMBC will collaborate with the Universitt of Maryland Center for Environmental Science and the University of Baltimore to drive researc h in environmental andgenomic sciences. UMBI’s Baltimore-based Medical Biotechnology Center will fall under the Universituof Maryland, Baltimore’s purview. • UMBI’s Institute of Fluorescencse will be administeredby • UMBI’s K-12 educational programsd will be overseen by with an eye on enhancinh its teaching focus. UMBI President Jenni e Hunter-Cevera is stepping down June 30 after 10 yearx inthat role.
She will become executive vice presidenty of discovery and analytical sciences and corporatre developmentat , a North Carolinz nonprofit. The University System of Marylan d will honor tenure held by UMBIfacultgy members, and administrative support staffers will be able to stay in their jobs through fiscal 2010. Job opportunitiea at other system campuses willbe identified, and memoranda of understanding outlining future operationzs and collaborations are expected to be completed by the end of this year and fulluy implemented by the end of fiscalp 2010.
UMBI generates abou $25 million in research activitgy annually, and university system leaders hope to see that numbef increase dramatically by breaking upthe institute. “Today’s decisions by the board provide a tremendous opportunityh for the University System of Maryland to increase the volume and impact of its basic and appliee research inthe biosciences,” said USM Chancellor William E. Kirwa in a statement.
“Thisa restructuring has the potential to double the researcyh productivityof UMBI’s current assets within five
The public university system’s Board of Regentsd approved Friday a sweepinvg restructuring of the that will parcel out its fourresearcn centers, along with staff and other assets, to othert campuses. System leaders hope the restructuring will drivd research collaboration and boosy access tooutside funding. It also meanss an end for UMBI, which was launchec to great fanfare two decades ago with the missio ofadvancing education, research and economic development for what was then the state’ws nascent biotech industry.
A months-long study of UMBI by an ad hoc committeed led by USM regents Chairman Cliffordx Kendall concludedthat “the organization of UMBI as a geographically dispersed, free-standinvg entity has created intractablr problems.” Those problems included an inability to scale UMBI programs, isolation among UMBI’s research centers, the lack of a criticalk mass of graduate and undergraduate studentsw involved in UMBI research, and administrative inefficiencies. “After a comprehensive and deliberative process, we have concludee that restructuring UMBI’s assets is the right thing to Kendall said ina statement.
“With a focusx on collaboration — acrossw disciplines and acrossinstitutions — and with recognitionm of the exceptional talent within the UMBI communityu and the system’s other institutions, this actionj will position USM to take fullerr advantage of its system-wide strengths in the biosciencesx and to fuel the state’s knowledge economuy even more.” The move isn’t a tota surprise. Critics have long questionec whether the state was duplicating its research effort s inthe biosciences. UMBI’s four center in Baltimore, Rockville and College Park conduct researcghon medical, biotechnology, marine and environmentao science.
At the same time, state fundingg for higher education is pinchexd by the recession andthe state’s budget and universities’ research needs are growing. Under the restructurint approved Friday by the regents at a meetinbgin Frostburg, a joint University System of Marylansd research center will be establishede at UMBI’s Center for Advanced Research in Biotechnologg in Rockville. The system’s flagship Colleged Park campus will oversee the facility and work with the Universituof Maryland, Baltimore to elevat work in physics, engineering and computational sciences as well as structurap biology, protein design and drug • UMBI’s Center for Biosystemd Research will also be overseen by College • A joint research center at UMBI’s Center of Marinw Biotechnology in Baltimore will be established, with administrative responsibility fallinf to the University of Maryland, Baltimord County.
UMBC will collaborate with the Universitt of Maryland Center for Environmental Science and the University of Baltimore to drive researc h in environmental andgenomic sciences. UMBI’s Baltimore-based Medical Biotechnology Center will fall under the Universituof Maryland, Baltimore’s purview. • UMBI’s Institute of Fluorescencse will be administeredby • UMBI’s K-12 educational programsd will be overseen by with an eye on enhancinh its teaching focus. UMBI President Jenni e Hunter-Cevera is stepping down June 30 after 10 yearx inthat role.
She will become executive vice presidenty of discovery and analytical sciences and corporatre developmentat , a North Carolinz nonprofit. The University System of Marylan d will honor tenure held by UMBIfacultgy members, and administrative support staffers will be able to stay in their jobs through fiscal 2010. Job opportunitiea at other system campuses willbe identified, and memoranda of understanding outlining future operationzs and collaborations are expected to be completed by the end of this year and fulluy implemented by the end of fiscalp 2010.
UMBI generates abou $25 million in research activitgy annually, and university system leaders hope to see that numbef increase dramatically by breaking upthe institute. “Today’s decisions by the board provide a tremendous opportunityh for the University System of Maryland to increase the volume and impact of its basic and appliee research inthe biosciences,” said USM Chancellor William E. Kirwa in a statement.
“Thisa restructuring has the potential to double the researcyh productivityof UMBI’s current assets within five
Monday, October 3, 2011
Christie Comes Clean on Trips as NJ Governor Seeks Donations - BusinessWeek
tenamup.wordpress.com
Fox News | Christie Comes Clean on Trips as NJ Governor Seeks Donations BusinessWeek A 2006 letter to Corzine's office from the attorney general at the time, Zulima Farber, said no transfer-of-power notice was necessary for “an occasional, overnight stay in New York City,†the Times said. New Jersey created a lieutenant governor ... Real-time commentary and analysis from The W » |
Saturday, October 1, 2011
More developers seek tax breaks - Phoenix Business Journal:
esivyjifag.wordpress.com
The latest example is , whichj for the second time in two years findz itself embroiled in a battls over a development inDeKalb County, this time over a proposex $51 million property tax abatement on Town its half-billion-dollar mixed-use projecy on Peachtree Road just north of Buckhead’s Lenox Square mall and Phipps Plaza. The proposal has promptedr a small backlash among opponents whosay it’s just anothet example of a big company getting a free handout at the expensed of U.S. taxpayers. Sembler is asking for a special typeof abatement, known as payments in lieu of or a PILOT bond — the same type of mechanisn that funded the new $1.3 billion Yankee Stadium.
The PILOT has essentially the same purpose as previous tax breaksd forthe city’s biggest projectsx — keeping jobs and investment in Atlanta, commercial real estate brokers and developers say. Propertty tax abatements have sparked someof Atlanta’s most financially risku and most important commercial real estate projects in recent from ’s One Ninety One Peachtrer to ’s Allen Plaza. The abatementz may be even more critical now that lendingv has dried up and commercial real estate valuedare plummeting, developers say. Barry Real Estate coulsd seek tax abatements on 50 Allen a new tower on the drawing board atAllenn Plaza.
“We couldn’t get these projects done withou them,” said developer Hal Barry, whose Allem Plaza has kept hundredas of jobs downtown bylanding (NYSE: SO) and . “Th tax-exempt approach ends up having a multiplief effect in that it creates more moreeconomic development.” Sembler is makingh an unprecedented request to the Developmentf Authority of DeKalb County, the boared that will make a decision on the matter in comin weeks. No developer has asked DeKalnb for$51 million in tax breakws spread out overtwo decades. But these are also unprecedentereconomic times, said Marisa Mullins, DeKalb’s economic development director.
“We’ve seen a real decreasde in domestic financing,” she said. “And Sembler has a prove success record. This isn’t just some John Doe Sembler’s request could be a watershed momeng forthe authority. “We’ve started gettin g calls fromretail owners,” Mullins said. “They are watchinf this. It’s an important time.” Mullins went on to say: “We’ve got to find ways to keep investmeng here and stopthe bleeding. Ultimately, the question is ‘whaty is our competitive status as theUnited States, and how can we regaim economic stability?
’” Conceived before the recessiob and commercial real estate crisis, Town Brookhaven’s future could hinge on the Development Sembler hopes to lure Publix, , , and among other retailers. The company has alreadg announced Cobb Theater cinema and will be tenant s in thenearly 523,000-square-foot mixed-use center. Jeff Fuqua, presidenyt of the St. Petersburg, Fla.-based development company, went before the authorit y May 12 to makehis case. The projecrt would represent a net gain in overalk local tax revenue ofat least$7 milliobn in the first year and $119 million over the next 20 according to the proposal.
Sembler wants the tax breaks to apply only tothe project’s retail components and one of its apartment That amounts to abouty 50 percent of the Town Brookhaven’s 54 acres. The abatement won’ty affect school board tax revenue. If the authority rejectes the request, Sembler could still move forward, but the project may not includr all the components that were originally on thedrawingg board, including two anchor stores, 117,000 square feet of specialty shops and 18
The latest example is , whichj for the second time in two years findz itself embroiled in a battls over a development inDeKalb County, this time over a proposex $51 million property tax abatement on Town its half-billion-dollar mixed-use projecy on Peachtree Road just north of Buckhead’s Lenox Square mall and Phipps Plaza. The proposal has promptedr a small backlash among opponents whosay it’s just anothet example of a big company getting a free handout at the expensed of U.S. taxpayers. Sembler is asking for a special typeof abatement, known as payments in lieu of or a PILOT bond — the same type of mechanisn that funded the new $1.3 billion Yankee Stadium.
The PILOT has essentially the same purpose as previous tax breaksd forthe city’s biggest projectsx — keeping jobs and investment in Atlanta, commercial real estate brokers and developers say. Propertty tax abatements have sparked someof Atlanta’s most financially risku and most important commercial real estate projects in recent from ’s One Ninety One Peachtrer to ’s Allen Plaza. The abatementz may be even more critical now that lendingv has dried up and commercial real estate valuedare plummeting, developers say. Barry Real Estate coulsd seek tax abatements on 50 Allen a new tower on the drawing board atAllenn Plaza.
“We couldn’t get these projects done withou them,” said developer Hal Barry, whose Allem Plaza has kept hundredas of jobs downtown bylanding (NYSE: SO) and . “Th tax-exempt approach ends up having a multiplief effect in that it creates more moreeconomic development.” Sembler is makingh an unprecedented request to the Developmentf Authority of DeKalb County, the boared that will make a decision on the matter in comin weeks. No developer has asked DeKalnb for$51 million in tax breakws spread out overtwo decades. But these are also unprecedentereconomic times, said Marisa Mullins, DeKalb’s economic development director.
“We’ve seen a real decreasde in domestic financing,” she said. “And Sembler has a prove success record. This isn’t just some John Doe Sembler’s request could be a watershed momeng forthe authority. “We’ve started gettin g calls fromretail owners,” Mullins said. “They are watchinf this. It’s an important time.” Mullins went on to say: “We’ve got to find ways to keep investmeng here and stopthe bleeding. Ultimately, the question is ‘whaty is our competitive status as theUnited States, and how can we regaim economic stability?
’” Conceived before the recessiob and commercial real estate crisis, Town Brookhaven’s future could hinge on the Development Sembler hopes to lure Publix, , , and among other retailers. The company has alreadg announced Cobb Theater cinema and will be tenant s in thenearly 523,000-square-foot mixed-use center. Jeff Fuqua, presidenyt of the St. Petersburg, Fla.-based development company, went before the authorit y May 12 to makehis case. The projecrt would represent a net gain in overalk local tax revenue ofat least$7 milliobn in the first year and $119 million over the next 20 according to the proposal.
Sembler wants the tax breaks to apply only tothe project’s retail components and one of its apartment That amounts to abouty 50 percent of the Town Brookhaven’s 54 acres. The abatement won’ty affect school board tax revenue. If the authority rejectes the request, Sembler could still move forward, but the project may not includr all the components that were originally on thedrawingg board, including two anchor stores, 117,000 square feet of specialty shops and 18
Thursday, September 29, 2011
Lockheed-Starwood solar plant construction will create many jobs - Phoenix Business Journal:
kowutoco.wordpress.com
Last week’s announcement that and Global LLC were collaborating ona 290-megawatt facility about 75 miles west of Phoenix meanws Arizona contractors will get some of the work, said Chris Myers, Lockheed Martin’s vice president for energy programs. The companiew still are evaluating subcontractors for theproposed $1.5 billio power plant, dubbed Starwoodd Solar I. Some work, such as creatingf the mirrored troughs that will focuszthe sun’s energy, typically is done by specializedd companies, Myers said, but there will be plenty “We’re going to do a lot of the work here in he said.
Steel manufacturing and other industries coulrd benefit from an increased Arizona focu s onsolar construction. Starwooxd and Lockheed Martin estimate 1,000 jobs will be createed as a result of the and anadditional 6,000 coul d result from supplier relationships. The companies plan to hold recruitmeng events this summer to informm local companies aboutthe opportunities, Myers said. In the the company is using a newly launchedWeb site, to distribute information and tell businesses how they can get involve d with the project. The constructioj also will require infrastructure upgraded at transmission facilities to tie inwith Starwood’ss facility.
Included in those upgrades will be work at Arizonq PublicService Co.’s Delaney substation, whicjh Starwood will fund up front. APS, which has agreef to purchase power from thesolar plant, has fundes earmarked in its 2012 budget for expandintg the Delaney substation. “To brin g in something that large, there are goinv to have to be improvements,” said Stephen Starwood’s executive vice president andmanaging director. Starwood operatesa about 40 other power plantzs and owns all or part of severakl transmission routes throughfive states. It beganm its partnership with Lockheed about 18 monthd ago as both looked for a site fora utility-scaled plant.
Starwood runs its solar operations via subsidiarh NautilusSolar LLC, which has done several larg commercial-scale projects, but nothing as big as what the two are attempting in the Harquahala Valley. The two companies believe theirt combined relationships with financial institutions will help them overcomew the financing hurdles that have stalledc several other solar Some major project announcements of the past few yearsa have been delayed because companies that signeddealse couldn’t take the next step toward developint a commercial product, said Madison Grose, vice chairmanb and senior managing director for Starwood.
“Thee folks who take it to commercializatioh have torealize there’s a different skill set needed to take it to the next he said. Another hurdle is getting financiall institutions and utilities comfortable enough with the solar concept that they view it the same way as traditionalpoweer plants, Grose said. The companies are planninh to spend the summer conducting publixc meetings on the project with submissionws to the ArizonaCorporation Commission, which must approve the powee purchase deal by this fall, said Brad CEO and managing director of Starwood.
The companu hopes to get its building permits and ACC approvals settled by get its financing in place and move forward with constructiomn by the latter half of that Nordholm said.
Last week’s announcement that and Global LLC were collaborating ona 290-megawatt facility about 75 miles west of Phoenix meanws Arizona contractors will get some of the work, said Chris Myers, Lockheed Martin’s vice president for energy programs. The companiew still are evaluating subcontractors for theproposed $1.5 billio power plant, dubbed Starwoodd Solar I. Some work, such as creatingf the mirrored troughs that will focuszthe sun’s energy, typically is done by specializedd companies, Myers said, but there will be plenty “We’re going to do a lot of the work here in he said.
Steel manufacturing and other industries coulrd benefit from an increased Arizona focu s onsolar construction. Starwooxd and Lockheed Martin estimate 1,000 jobs will be createed as a result of the and anadditional 6,000 coul d result from supplier relationships. The companies plan to hold recruitmeng events this summer to informm local companies aboutthe opportunities, Myers said. In the the company is using a newly launchedWeb site, to distribute information and tell businesses how they can get involve d with the project. The constructioj also will require infrastructure upgraded at transmission facilities to tie inwith Starwood’ss facility.
Included in those upgrades will be work at Arizonq PublicService Co.’s Delaney substation, whicjh Starwood will fund up front. APS, which has agreef to purchase power from thesolar plant, has fundes earmarked in its 2012 budget for expandintg the Delaney substation. “To brin g in something that large, there are goinv to have to be improvements,” said Stephen Starwood’s executive vice president andmanaging director. Starwood operatesa about 40 other power plantzs and owns all or part of severakl transmission routes throughfive states. It beganm its partnership with Lockheed about 18 monthd ago as both looked for a site fora utility-scaled plant.
Starwood runs its solar operations via subsidiarh NautilusSolar LLC, which has done several larg commercial-scale projects, but nothing as big as what the two are attempting in the Harquahala Valley. The two companies believe theirt combined relationships with financial institutions will help them overcomew the financing hurdles that have stalledc several other solar Some major project announcements of the past few yearsa have been delayed because companies that signeddealse couldn’t take the next step toward developint a commercial product, said Madison Grose, vice chairmanb and senior managing director for Starwood.
“Thee folks who take it to commercializatioh have torealize there’s a different skill set needed to take it to the next he said. Another hurdle is getting financiall institutions and utilities comfortable enough with the solar concept that they view it the same way as traditionalpoweer plants, Grose said. The companies are planninh to spend the summer conducting publixc meetings on the project with submissionws to the ArizonaCorporation Commission, which must approve the powee purchase deal by this fall, said Brad CEO and managing director of Starwood.
The companu hopes to get its building permits and ACC approvals settled by get its financing in place and move forward with constructiomn by the latter half of that Nordholm said.
Monday, September 26, 2011
PBMs grow by cutting employers
humojo.wordpress.com
WellDyne — a pharmacy benefit management companhy that administers drugbenefit programs, processees claims and operates a mail-order pharmacy opened the $20 million, 66,000-square-foo operation in March. It will provide 100 jobs by the end of this year and anothert 578 jobs through the endof 2010. It is one of two mail-ordef facilities for WellDyne, which fills more than 35 million prescriptionsaa year. The company, headquartered in suburbamn Denver, needed an East Coastf location, and Damien Lamendola, owner, president and CEO, likes Lakeland’s accessibility to major airports in Tampaw and Orlando as well as the qualith of workers inthe area.
Lamendolaa expects to work with in both Tamp and Lakelandon pharmacogenomics, or the combinationm of genetic analysis and drug development. Using genees to identify which drugs will work best for individuals will reducre adverse side effects and cut healthbcare spending, he said. WellDyne relies heavily on automatiohn and has a robotic system that allowsx greater flexibility in developinyg programs to meetcustomer needs. The privately ownedx company, which competes in the smalk self-funded employer market and also workswith third-partu administrators, can offer lower prices and margins than its publicl y traded competitors and puts a high prioritu on services, Lamendola said.
Streamlining operations for clientzs is keyfor , a PBM in Tampas that uses myMatrixx as a branxd name. Matrix concentrates on niche markets, mostly workers’ compensation and auto insurers, said Steven CEO. “Instead of the [payer’s] operationj getting a lot of individual charges on pieces of paper billed directly fromthe pharmacy, we compile it all into electroniv data and submit it to insuranced companies, so they pay it all in one check,” MacDonaled said.
“If a company spends $1 million a year on pharmacy, they eliminated processing 15,000 pieces of papeer by going through a Health plans and their members save moneg byusing PBMs, becaused PBMs have systems, programs, procedures and personnell with specific expertise in the managemenf of pharmacy benefits, said Lowelp Sterler, VP of pharmacy programs for . “By partnerin with a PBM, the healtg plan does not need to replicats all of these pharmacy specific services and maintaih all of theseresourceas themselves,” Sterler said. Blue Cross and Blue Shield of Florids is one of several Blues plane nationwide in agreements with PrimeTherapeutics LLC, a PBM headquarteref in St.
Paul, Minn. The Blues have equithy stakes in Prime Therapeutics and also use itsmanagemeng services. Like WellDyne and Matrix, Prime Therapeutic s has a mail-order pharmacy and provides claims processing. Although the economi c downturn and rising unemployment has cut comp claims because fewer peopleare working, MacDonalxd said the impact has been small and the compant historically has grown at 40 percent to 50 percent a WellDyne also is growing and expects more demand as baby boomerz reach their 60s, when the use of medications Lamendola said.
However, the last vestige of what was at one time one of the large PBMs in the United States, , operated by the former , disappeareds from the Tampa Bay area earliere this year, when (NYSE: CVS) closed its operationw in Largo on March 31, leaving 230 peoplw without jobs. The mail servicd facility closed due to integration activitiesa related to the 2007 merger of and Caremar kRx Inc.
WellDyne — a pharmacy benefit management companhy that administers drugbenefit programs, processees claims and operates a mail-order pharmacy opened the $20 million, 66,000-square-foo operation in March. It will provide 100 jobs by the end of this year and anothert 578 jobs through the endof 2010. It is one of two mail-ordef facilities for WellDyne, which fills more than 35 million prescriptionsaa year. The company, headquartered in suburbamn Denver, needed an East Coastf location, and Damien Lamendola, owner, president and CEO, likes Lakeland’s accessibility to major airports in Tampaw and Orlando as well as the qualith of workers inthe area.
Lamendolaa expects to work with in both Tamp and Lakelandon pharmacogenomics, or the combinationm of genetic analysis and drug development. Using genees to identify which drugs will work best for individuals will reducre adverse side effects and cut healthbcare spending, he said. WellDyne relies heavily on automatiohn and has a robotic system that allowsx greater flexibility in developinyg programs to meetcustomer needs. The privately ownedx company, which competes in the smalk self-funded employer market and also workswith third-partu administrators, can offer lower prices and margins than its publicl y traded competitors and puts a high prioritu on services, Lamendola said.
Streamlining operations for clientzs is keyfor , a PBM in Tampas that uses myMatrixx as a branxd name. Matrix concentrates on niche markets, mostly workers’ compensation and auto insurers, said Steven CEO. “Instead of the [payer’s] operationj getting a lot of individual charges on pieces of paper billed directly fromthe pharmacy, we compile it all into electroniv data and submit it to insuranced companies, so they pay it all in one check,” MacDonaled said.
“If a company spends $1 million a year on pharmacy, they eliminated processing 15,000 pieces of papeer by going through a Health plans and their members save moneg byusing PBMs, becaused PBMs have systems, programs, procedures and personnell with specific expertise in the managemenf of pharmacy benefits, said Lowelp Sterler, VP of pharmacy programs for . “By partnerin with a PBM, the healtg plan does not need to replicats all of these pharmacy specific services and maintaih all of theseresourceas themselves,” Sterler said. Blue Cross and Blue Shield of Florids is one of several Blues plane nationwide in agreements with PrimeTherapeutics LLC, a PBM headquarteref in St.
Paul, Minn. The Blues have equithy stakes in Prime Therapeutics and also use itsmanagemeng services. Like WellDyne and Matrix, Prime Therapeutic s has a mail-order pharmacy and provides claims processing. Although the economi c downturn and rising unemployment has cut comp claims because fewer peopleare working, MacDonalxd said the impact has been small and the compant historically has grown at 40 percent to 50 percent a WellDyne also is growing and expects more demand as baby boomerz reach their 60s, when the use of medications Lamendola said.
However, the last vestige of what was at one time one of the large PBMs in the United States, , operated by the former , disappeareds from the Tampa Bay area earliere this year, when (NYSE: CVS) closed its operationw in Largo on March 31, leaving 230 peoplw without jobs. The mail servicd facility closed due to integration activitiesa related to the 2007 merger of and Caremar kRx Inc.
Saturday, September 24, 2011
Doubts About Perry Among Some In GOP - NPR
axilecyqih.wordpress.com
USA Today | Doubts About Perry Among Some In GOP NPR Rick Perry worked to convince Florida Republicans Saturday that he is the strongest contender for the party's presidential nomination despite a shaky debate performance earlier this week that has sparked jitters about his bid. Perry lost a key test ... Herman Cain gets more votes than Perry, Romney combined in Florida mock election Cain upsets Perry at Florida straw poll Cain upsets Perry in Florida Republican straw poll |
Thursday, September 22, 2011
State set to yank Empire Zone benefits from 52 area companies - The Business Review (Albany):
ywyjihu.wordpress.com
Albany’s oldest department store. Yonally made that decisionn after being warned that he is one of 52 Capital Regioh businesses in jeopardy of being kickedf out ofthe state’s Empired Zone program. That means Yonally could lose upto $20,000 a year in tax credit from the state incentive program. Next month, the state’d economic agency expects to make fina decisions about which companies to removes fromthe program. It’s the latest development in an ongoiny chain reaction caused by thestate budget, which attempted to shrinkk the Empire Zone program. “This is the key said Ken Pokalsky, a lobbyist at , in Albany.
[For the Empir Zone Rentention List, click ; for the Empire Zone PotentiapDecertification List, click ; and for the Empirr Zone list of companies that need to provide more click ]. A legislative committee meeting on June 2 reveale that state economic officialz and statelegislators can’t agree on the meaning of key Empire Zone provisionsd in the state That debate illustrates the challenge of fixinhg perceived problems with the program before the Legislatur e adjourns later this month. At the the fallout from the budget has injectesd more uncertainty into an already unstablwbusiness climate.
Across the state, business owner s are preparing tocut expenses—or even employees—tio adjust to the new Empire Zone Those who will remain in the program have had to pay tens of thousandss of dollars in extra taxes up front—some as much as $120,009 or more. All are still waiting for refunds oftheit credits. “It hurts personally,” said who has renovated other buildings indowntown Albany. “The thing that scares me is, if they’vw changed it once, they could very easily changeeit again. Who the heck knows what they’ll come up Yonally said, exasperated. “You questiob who really knows what’e going on.
” On May 28, , whic oversees Empire Zones, said it had finished auditing companiesa in the program to see whether they met newstandard (see quick info box below). In all, the statw says that at least 76 percent of auditeed Empire Zone companies will remain inthe program. Close to 650 are likely to be or “decertified.” That’s 7.7 percent of the 8,469 companies that were • In the Capital Region, 5.7 percent of companies are in jeoparduy of losing their Empire Zone • In Syracuse, 18 percent of companies—119 in all—are in jeopardy. • In 43 firms are targeted for representing 6.5 percent of all Empirr Zone companies there.
The state is seekinfg more information from anadditional 1,400 companiexs statewide—including 134 Albany-area businesses—before it can make a judgment on their status. “We expect that the overwhelming majorityh of that group will remain in the saidMarisa Lago, president and CEO of Empirs State Development. Francis Pitts, co-founder of Architecture+ in Troy, was shockesd to see his company on the list of firms tobe
Albany’s oldest department store. Yonally made that decisionn after being warned that he is one of 52 Capital Regioh businesses in jeopardy of being kickedf out ofthe state’s Empired Zone program. That means Yonally could lose upto $20,000 a year in tax credit from the state incentive program. Next month, the state’d economic agency expects to make fina decisions about which companies to removes fromthe program. It’s the latest development in an ongoiny chain reaction caused by thestate budget, which attempted to shrinkk the Empire Zone program. “This is the key said Ken Pokalsky, a lobbyist at , in Albany.
[For the Empir Zone Rentention List, click ; for the Empire Zone PotentiapDecertification List, click ; and for the Empirr Zone list of companies that need to provide more click ]. A legislative committee meeting on June 2 reveale that state economic officialz and statelegislators can’t agree on the meaning of key Empire Zone provisionsd in the state That debate illustrates the challenge of fixinhg perceived problems with the program before the Legislatur e adjourns later this month. At the the fallout from the budget has injectesd more uncertainty into an already unstablwbusiness climate.
Across the state, business owner s are preparing tocut expenses—or even employees—tio adjust to the new Empire Zone Those who will remain in the program have had to pay tens of thousandss of dollars in extra taxes up front—some as much as $120,009 or more. All are still waiting for refunds oftheit credits. “It hurts personally,” said who has renovated other buildings indowntown Albany. “The thing that scares me is, if they’vw changed it once, they could very easily changeeit again. Who the heck knows what they’ll come up Yonally said, exasperated. “You questiob who really knows what’e going on.
” On May 28, , whic oversees Empire Zones, said it had finished auditing companiesa in the program to see whether they met newstandard (see quick info box below). In all, the statw says that at least 76 percent of auditeed Empire Zone companies will remain inthe program. Close to 650 are likely to be or “decertified.” That’s 7.7 percent of the 8,469 companies that were • In the Capital Region, 5.7 percent of companies are in jeoparduy of losing their Empire Zone • In Syracuse, 18 percent of companies—119 in all—are in jeopardy. • In 43 firms are targeted for representing 6.5 percent of all Empirr Zone companies there.
The state is seekinfg more information from anadditional 1,400 companiexs statewide—including 134 Albany-area businesses—before it can make a judgment on their status. “We expect that the overwhelming majorityh of that group will remain in the saidMarisa Lago, president and CEO of Empirs State Development. Francis Pitts, co-founder of Architecture+ in Troy, was shockesd to see his company on the list of firms tobe
Tuesday, September 20, 2011
Dayton employment to remain sluggish into third quarter - Charlotte Business Journal:
vavyzina.wordpress.com
Tom Traynor, an economics professort at Wright State and authofr ofthe report, said unemployment increases will continue at theitr accelerated pace into the third quarter of this The Dayton Metropolitan Statistical Area, which includes Montgomery, Miami and Preble counties, is projected to lose 6,000 to 7,0090 jobs in the third quarter. That woule drop employment to 373,900, down from 380,400 in the firsf quarter of the year, a 2 percent decline. The hardest-hitg area is one the Dayton area has longreliedx on, manufacturing. “Manufacturing employment will fall Traynor said.
Forecasts from the report show employmenrt in the sector fallingfrom 42,300 in the first quarterd of this year to 36,100 by the thirsd quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t spending. They are waitin g to buy a new car or that new he said. Retail and service employment are also expectedsto decrease. Retail employment is expected to dropto 39,10o0 by the third quarter, down from 40,000 in the firstg quarter, a 2 percent drop.
Service employment, whicg includes financial service, business service, utilities and leisure is projected to decreaseto 324,20 0 by the third quarter, down from 326,70o0 in the first quarter, a nearlt 1 percent decline. “Th e next year to year and a half will be an unpleasantr time forthe region,” Traynor said. Constructionb employment is expected to rise as a part ofseasona employment, to 13,400 from 11,400 in the first but that is 1,000 jobs fewer than the same time periord last year.
One area of employment that isn’t expected to be hit hard is health In fact, Traynor said he expecta health care to add some jobs by the thirdr quarter, going up to 56,500 from 56,3009 in the first quarter. He said the rate of decliner in gross domestic product will but remain negative through the third quartetr and maybe into the fourth quarter of this Even when GDP does become positive it will take some time for employment to pick up becausre it is a lagging indicatort ofeconomic recovery. Traynor said there is a greatg deal of uncertainty still on thenational level, as businesses try to determine the impact of government actions.
Traynotr said the problem of high unemployment is not going awayanytims soon. “This is something we’re going to be living with for quitsa while, well into next he said.
Tom Traynor, an economics professort at Wright State and authofr ofthe report, said unemployment increases will continue at theitr accelerated pace into the third quarter of this The Dayton Metropolitan Statistical Area, which includes Montgomery, Miami and Preble counties, is projected to lose 6,000 to 7,0090 jobs in the third quarter. That woule drop employment to 373,900, down from 380,400 in the firsf quarter of the year, a 2 percent decline. The hardest-hitg area is one the Dayton area has longreliedx on, manufacturing. “Manufacturing employment will fall Traynor said.
Forecasts from the report show employmenrt in the sector fallingfrom 42,300 in the first quarterd of this year to 36,100 by the thirsd quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t spending. They are waitin g to buy a new car or that new he said. Retail and service employment are also expectedsto decrease. Retail employment is expected to dropto 39,10o0 by the third quarter, down from 40,000 in the firstg quarter, a 2 percent drop.
Service employment, whicg includes financial service, business service, utilities and leisure is projected to decreaseto 324,20 0 by the third quarter, down from 326,70o0 in the first quarter, a nearlt 1 percent decline. “Th e next year to year and a half will be an unpleasantr time forthe region,” Traynor said. Constructionb employment is expected to rise as a part ofseasona employment, to 13,400 from 11,400 in the first but that is 1,000 jobs fewer than the same time periord last year.
One area of employment that isn’t expected to be hit hard is health In fact, Traynor said he expecta health care to add some jobs by the thirdr quarter, going up to 56,500 from 56,3009 in the first quarter. He said the rate of decliner in gross domestic product will but remain negative through the third quartetr and maybe into the fourth quarter of this Even when GDP does become positive it will take some time for employment to pick up becausre it is a lagging indicatort ofeconomic recovery. Traynor said there is a greatg deal of uncertainty still on thenational level, as businesses try to determine the impact of government actions.
Traynotr said the problem of high unemployment is not going awayanytims soon. “This is something we’re going to be living with for quitsa while, well into next he said.
Sunday, September 18, 2011
In Jakarta, Love for Grunge Still Burns - Jakarta Globe
ivyhofy.wordpress.com
In Jakarta, Love for Grunge Still Burns Jakarta Globe Andre Bangun, who sings and plays guitar in the Jakarta-based band Shockbreaker, says that grunge's simplicity made it easier for younger fans to relate to the music. “Grunge filled a hole at a time when more technical acts like Van Halen and Metallica ... |
Friday, September 16, 2011
General Maritime Corporation to Present at Bank of America and Merrill Lynch 2009 Global Transportation Conference
stelauguqdinec.blogspot.com
The presentation will be broadcast live over the Internef and can be accessedat . In the accompanying slide presentation and webcasrt will be available in the Investor Relations section ofGeneral Maritime'as website at . General Maritime Corporation is a leadingg crude and products tanker company serving principallyy within theAtlantic basin, which includess ports in the Caribbean, South and Centra l America, the United States, West Africa, the Europe and the North Sea.
General Maritimee also currently operates tankers in other regionds including the Black Sea and Far General Maritime owns afully double-hul fleet of 31 tankers -- two twelve Aframax, eleven Suezmax tankers, two Panamax and four Product tankers -- with a total carryinfg capacity of approximately 4.0 million dwt.
The presentation will be broadcast live over the Internef and can be accessedat . In the accompanying slide presentation and webcasrt will be available in the Investor Relations section ofGeneral Maritime'as website at . General Maritime Corporation is a leadingg crude and products tanker company serving principallyy within theAtlantic basin, which includess ports in the Caribbean, South and Centra l America, the United States, West Africa, the Europe and the North Sea.
General Maritimee also currently operates tankers in other regionds including the Black Sea and Far General Maritime owns afully double-hul fleet of 31 tankers -- two twelve Aframax, eleven Suezmax tankers, two Panamax and four Product tankers -- with a total carryinfg capacity of approximately 4.0 million dwt.
Wednesday, September 14, 2011
Va. gets $37.6M in energy stimulus funds - Washington Business Journal:
vilyfijohy.wordpress.com
million in federal stimulus funds gearedx towardmaking low-income residences more energy efficient. The amount, makinbg up half of the state’s total allotment to help weatherizes homes, adds to more than $9 million that had already been delivered to Virginia under the American Reinvestment andRecovery Act. The state said it planse to rely on locao counties and cities to spend the money weatherproofing a statewide totakof 8,600 homes in the next three The process involves initiating an energy audit of each home to and later plug, its biggest holes from wher e energy escapes, areas such as buildinyg insulation, windows and doors.
Virginia said it planes to focus its dollars towarthe elderly, physically challenged, families with children, high energt consumers and those who had been facinfg an energy-related crisis. The federal weatherization assistance program, administeredr by the U.S. Department of Energy, is a key facet of the federa lstimulus funds. Families must make up to 200 perceng of the federalpoverty level, or about $44,00 0 a year for a familt of four, to be eligible for the average $6,500 available to weatherize each home. DOE said weatherproofing tactics can result in 32 percent average savings onheating bills. If Virginia’s plans are then it will be eligibl e to receive theremaining $47.
million from its allotted $94 million pot for weatherizatiohn aid from thestimulus bill.
million in federal stimulus funds gearedx towardmaking low-income residences more energy efficient. The amount, makinbg up half of the state’s total allotment to help weatherizes homes, adds to more than $9 million that had already been delivered to Virginia under the American Reinvestment andRecovery Act. The state said it planse to rely on locao counties and cities to spend the money weatherproofing a statewide totakof 8,600 homes in the next three The process involves initiating an energy audit of each home to and later plug, its biggest holes from wher e energy escapes, areas such as buildinyg insulation, windows and doors.
Virginia said it planes to focus its dollars towarthe elderly, physically challenged, families with children, high energt consumers and those who had been facinfg an energy-related crisis. The federal weatherization assistance program, administeredr by the U.S. Department of Energy, is a key facet of the federa lstimulus funds. Families must make up to 200 perceng of the federalpoverty level, or about $44,00 0 a year for a familt of four, to be eligible for the average $6,500 available to weatherize each home. DOE said weatherproofing tactics can result in 32 percent average savings onheating bills. If Virginia’s plans are then it will be eligibl e to receive theremaining $47.
million from its allotted $94 million pot for weatherizatiohn aid from thestimulus bill.
Sunday, September 11, 2011
Denver-area commercial foreclosures double - San Francisco Business Times:
coras-newport.blogspot.com
The reasons: disciplined local commercial development and andmetro Denver’s diverse economy and relativelh stable job market, according to locao real estate experts. “It’s a nationao phenomenon that commercial foreclosure rates are very low in comparison toresidential foreclosures. … The Denver economy, its diversity and just havinbg some of the right industriewin town, including the energy industry, made a big differencew for us,” said Glenn Mueller, professor at the ’es real estate school. Twenty-threed commercial foreclosures were recorded inthe first-quarter involvingb loan balances of at least $1 according to county foreclosure filings.
The largest foreclosurde was forthe ’s manufacturing buildingg at 1350 S. Public Road in for $7.65 million. The trustee was , workingy on behalf of the lender. There were roughlgy 1,300 residential filings in thefirst period, many with loan balanced higher than commercial balances. For 2008’ds first quarter, there were 11 commercial foreclosure filingsof $1 million-pluw in the metro and roughly 1,200 residential The filings represent lenders’ notificationn to borrowers that they’re in default on a real estate loan, and that their propert y is in foreclosure.
The area coveredf by the data includes Arapahoe, Boulder, Broomfield, Denver, Douglas and Jeffersoh counties. Most first-quarter commercial foreclosure filingas involved retail properties such as stores and as well as relatively smalp office and industrial apartment comptlexesand hotels. “Wed haven’t experienced overbuilding like we did inthe 1980s, we have a fairlu healthy economy and our jobs are mostly intact,” said Tim executive vice president and investment broker at in “There’s not enough stresds in the market to cause significant foreclosures.
” Most loans for local commerciapl properties also were underwritten conservatively, Mueller Conservative underwriting was helped starting a few years ago, by stiffer oversight required by federal and state banking regulators. “Regulators started paying special attention to commercial realestate loans,” said Barbar Walker, executive director of the trade “Commercial banks started adjusting lendingh relationships with commercial real estate borrowers, and that put us in the good placde we’re in now.
” Most of the public trusteeas foreclosing on commercial properties in the first quarter were including , , Bank of the West and Bank of There also were nonbank trustees, which have become less activs in metro Denver in the last year or so, such as the Ruth G. Fink Trusgt Number One, CapFinancial Partnersd LLC and Colorado Note AcquisitionPartners LLC. “Nonbank lenders had a big piece of the commercial real estate Walker said. One of the most high-profile local commercial properties to face foreclosure in the firstt quarter was the Neighborhood FlixCinema & Cafe in the redeveloped Lowenstein Theater on East Colfax Avenue in Denver.
Mile High Bank was the property’ s trustee, and its loan balance was $2 million. The long-awaitedd redevelopment of the old Lowenstein Theater inthe mid-2000s was hailex by the city and real estate experts as the beginning of an East Colfa x renaissance. The project also includes two major local independenyretailers — the ’s main locatioh and the music store.
The reasons: disciplined local commercial development and andmetro Denver’s diverse economy and relativelh stable job market, according to locao real estate experts. “It’s a nationao phenomenon that commercial foreclosure rates are very low in comparison toresidential foreclosures. … The Denver economy, its diversity and just havinbg some of the right industriewin town, including the energy industry, made a big differencew for us,” said Glenn Mueller, professor at the ’es real estate school. Twenty-threed commercial foreclosures were recorded inthe first-quarter involvingb loan balances of at least $1 according to county foreclosure filings.
The largest foreclosurde was forthe ’s manufacturing buildingg at 1350 S. Public Road in for $7.65 million. The trustee was , workingy on behalf of the lender. There were roughlgy 1,300 residential filings in thefirst period, many with loan balanced higher than commercial balances. For 2008’ds first quarter, there were 11 commercial foreclosure filingsof $1 million-pluw in the metro and roughly 1,200 residential The filings represent lenders’ notificationn to borrowers that they’re in default on a real estate loan, and that their propert y is in foreclosure.
The area coveredf by the data includes Arapahoe, Boulder, Broomfield, Denver, Douglas and Jeffersoh counties. Most first-quarter commercial foreclosure filingas involved retail properties such as stores and as well as relatively smalp office and industrial apartment comptlexesand hotels. “Wed haven’t experienced overbuilding like we did inthe 1980s, we have a fairlu healthy economy and our jobs are mostly intact,” said Tim executive vice president and investment broker at in “There’s not enough stresds in the market to cause significant foreclosures.
” Most loans for local commerciapl properties also were underwritten conservatively, Mueller Conservative underwriting was helped starting a few years ago, by stiffer oversight required by federal and state banking regulators. “Regulators started paying special attention to commercial realestate loans,” said Barbar Walker, executive director of the trade “Commercial banks started adjusting lendingh relationships with commercial real estate borrowers, and that put us in the good placde we’re in now.
” Most of the public trusteeas foreclosing on commercial properties in the first quarter were including , , Bank of the West and Bank of There also were nonbank trustees, which have become less activs in metro Denver in the last year or so, such as the Ruth G. Fink Trusgt Number One, CapFinancial Partnersd LLC and Colorado Note AcquisitionPartners LLC. “Nonbank lenders had a big piece of the commercial real estate Walker said. One of the most high-profile local commercial properties to face foreclosure in the firstt quarter was the Neighborhood FlixCinema & Cafe in the redeveloped Lowenstein Theater on East Colfax Avenue in Denver.
Mile High Bank was the property’ s trustee, and its loan balance was $2 million. The long-awaitedd redevelopment of the old Lowenstein Theater inthe mid-2000s was hailex by the city and real estate experts as the beginning of an East Colfa x renaissance. The project also includes two major local independenyretailers — the ’s main locatioh and the music store.
Friday, September 9, 2011
Army-Navy game coming to FedEx Field - The Business Review (Albany):
http://best-go.org/?f=2&n=4
The , the and Destination D.C. have announcedc that the 112th Army-Navy game will be played at in Marylandon Dec. 10, 2011. Alontg with the football game, the event bringw with it a weekend ofancillaru events, including the Army-Navy “This is a phenomenalo achievement by the threre organizations to secure such an historic event for our nation’s capital,” said Robert Sweeney, president of the Greaterd Washington Sports Alliance.
“With nearly a half millio active and retired military personnel currently livingf in our region and the historicx memorials that honorour nation’s service men and it just makes sense to have a game of this magnitudd played in Washington.” The event is part of an eight-year packaged announced Tuesday by the and the . Philadelphiwa will host the gamein 2012, 2013, 2015 and 2017. The game will take plac e in Baltimore in 2014and 2016.
The , the and Destination D.C. have announcedc that the 112th Army-Navy game will be played at in Marylandon Dec. 10, 2011. Alontg with the football game, the event bringw with it a weekend ofancillaru events, including the Army-Navy “This is a phenomenalo achievement by the threre organizations to secure such an historic event for our nation’s capital,” said Robert Sweeney, president of the Greaterd Washington Sports Alliance.
“With nearly a half millio active and retired military personnel currently livingf in our region and the historicx memorials that honorour nation’s service men and it just makes sense to have a game of this magnitudd played in Washington.” The event is part of an eight-year packaged announced Tuesday by the and the . Philadelphiwa will host the gamein 2012, 2013, 2015 and 2017. The game will take plac e in Baltimore in 2014and 2016.
Wednesday, September 7, 2011
Penske losing Big Lots logistics contract - Business First of Columbus:
efenytan.wordpress.com
is packing up this summer at thediscount retailer’ws headquarters and four other distribution facilities aftef the merchant opted to not renew a logistics contracy that expires in July. The Pa.-based Penske said 186 workers, includingf 53 in Columbus, could be affected when its contracgtwith Columbus-based Big Lots (NYSE:BIG) expiree July 31. Penske spokesman Randy Ryersonj said the company has workefd with the retailer since 1991. The 1,300-store Big Lots has chosen a new third-partgy logistics provider to continue the warehousing and distributiomn work that Penske performed atthe retailer’w Phillipi Road headquarters and its distribution centers in Pa; Montgomery, Ala.
; Rancho Cucamonga, Calif.; and Okla. Timothy Johnson, Big Lots’ vice president of strategicd planning andinvestor relations, said more than a dozejn carriers bid for the work. He declinerd to disclose the company Big Lots selected tosucceed Penske. Big Lots and Pensks representativessaid they’re working with truck drivers lookintg to continue work under the new logisticd provider. Johnson said the company met with workerx over the weekend to introduce the new In the event that some workersware cut, Ryerson said privately held Penske will work with the statd “to make sure employees are aware of differenf services.
” Penske employs about 20,000 workers Asked why Big Lots opted to bid for a new contractorr after the latest five-year contract with Penske, Johnson said, “a lot has changerd in transportation in the past five years. We owed it to our associatese and shareholders to take a freshb look at how we handle outbound The loss of the Big Lots contracyt comes less than a year afterr Penske was replaced at a warehousein Chattanooga, Tenn.-based last fall stepped in at the where Penske had employer 146 workers. Penske has 400 logistics centers Its Central Ohio operations include a number of distribution and warehousing facilities inthe region.
is packing up this summer at thediscount retailer’ws headquarters and four other distribution facilities aftef the merchant opted to not renew a logistics contracy that expires in July. The Pa.-based Penske said 186 workers, includingf 53 in Columbus, could be affected when its contracgtwith Columbus-based Big Lots (NYSE:BIG) expiree July 31. Penske spokesman Randy Ryersonj said the company has workefd with the retailer since 1991. The 1,300-store Big Lots has chosen a new third-partgy logistics provider to continue the warehousing and distributiomn work that Penske performed atthe retailer’w Phillipi Road headquarters and its distribution centers in Pa; Montgomery, Ala.
; Rancho Cucamonga, Calif.; and Okla. Timothy Johnson, Big Lots’ vice president of strategicd planning andinvestor relations, said more than a dozejn carriers bid for the work. He declinerd to disclose the company Big Lots selected tosucceed Penske. Big Lots and Pensks representativessaid they’re working with truck drivers lookintg to continue work under the new logisticd provider. Johnson said the company met with workerx over the weekend to introduce the new In the event that some workersware cut, Ryerson said privately held Penske will work with the statd “to make sure employees are aware of differenf services.
” Penske employs about 20,000 workers Asked why Big Lots opted to bid for a new contractorr after the latest five-year contract with Penske, Johnson said, “a lot has changerd in transportation in the past five years. We owed it to our associatese and shareholders to take a freshb look at how we handle outbound The loss of the Big Lots contracyt comes less than a year afterr Penske was replaced at a warehousein Chattanooga, Tenn.-based last fall stepped in at the where Penske had employer 146 workers. Penske has 400 logistics centers Its Central Ohio operations include a number of distribution and warehousing facilities inthe region.
Monday, September 5, 2011
Cousins Chairman Tom Bell retiring - Houston Business Journal:
http://berg-nordenberg.com/?p=36
Gellerstedt will remain president, the Atlanta-basef real estate investment trust said. who turns 60 this year, became Cousin CEO in January 2002 and chairmah inDecember 2006. Under his watch, the companu sold nearly $3 billioh in assets during the market’ss peak for special dividends totaling $12.62 a share. “There is never a perfect time to leavew a company as respected and admireras Cousins, but I’m confident that after seven and a half years as chief the company is ready for new leadership and renewed Bell said in a statement.
“My decision to step asided now allows our extremely talentefd management team under the guidancr of Larry to make important decisions that will prepare Cousinxs for the next phas of the real estate Bell remains deeply involvedin Atlanta’ s civic life. He has been instrumental in the effort to save fromfinanciap ruin. The movement began over dinne r in early 2007 when the table conversationnof A.D. “Pete” Correll, former CEO of , and Bell turnef to Grady. Through their leadership and donationsfrom , ’ s $5 million, and .
" thought he had big shoes to fill when he took since he was replacingTom Cousins," said Hal Barry, founded of Barry Real Estate Cos. "Sincwe then, he's done an absolutely fantastic job for that Andwhat he's done for the city and metrk Atlanta have just been over the top. I hope he doesn'f give up some of his efforts that have meant so much to theAtlantza community. I just admire the heck out of Gellerstedt, 53, came to Cousinx (NYSE: CUZ) when the REIT boughtg his firm, , in June 2005. Gellerstedt served as chairman and chietf executive officer of the from 1986to 1998.
In after the sale of Beerzs to , he was elected chairman and CEOof , a packagintg and printed office products company. In 2000, Gellerstedyt became president and chief operatinf officerof , an urban mixed-use development He went on to found The Gellerstedgt Group in 2003. In othert company news, Cousins’ boarsd of directors named S. Taylor Glover non-executiv chairman of the board. Glover joinef the Cousins board inFebruary 2005.
He is currentlty the president and chief executive officerof
Gellerstedt will remain president, the Atlanta-basef real estate investment trust said. who turns 60 this year, became Cousin CEO in January 2002 and chairmah inDecember 2006. Under his watch, the companu sold nearly $3 billioh in assets during the market’ss peak for special dividends totaling $12.62 a share. “There is never a perfect time to leavew a company as respected and admireras Cousins, but I’m confident that after seven and a half years as chief the company is ready for new leadership and renewed Bell said in a statement.
“My decision to step asided now allows our extremely talentefd management team under the guidancr of Larry to make important decisions that will prepare Cousinxs for the next phas of the real estate Bell remains deeply involvedin Atlanta’ s civic life. He has been instrumental in the effort to save fromfinanciap ruin. The movement began over dinne r in early 2007 when the table conversationnof A.D. “Pete” Correll, former CEO of , and Bell turnef to Grady. Through their leadership and donationsfrom , ’ s $5 million, and .
" thought he had big shoes to fill when he took since he was replacingTom Cousins," said Hal Barry, founded of Barry Real Estate Cos. "Sincwe then, he's done an absolutely fantastic job for that Andwhat he's done for the city and metrk Atlanta have just been over the top. I hope he doesn'f give up some of his efforts that have meant so much to theAtlantza community. I just admire the heck out of Gellerstedt, 53, came to Cousinx (NYSE: CUZ) when the REIT boughtg his firm, , in June 2005. Gellerstedt served as chairman and chietf executive officer of the from 1986to 1998.
In after the sale of Beerzs to , he was elected chairman and CEOof , a packagintg and printed office products company. In 2000, Gellerstedyt became president and chief operatinf officerof , an urban mixed-use development He went on to found The Gellerstedgt Group in 2003. In othert company news, Cousins’ boarsd of directors named S. Taylor Glover non-executiv chairman of the board. Glover joinef the Cousins board inFebruary 2005.
He is currentlty the president and chief executive officerof
Saturday, September 3, 2011
Job seekers join the military as last resort - CBS News
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Job seekers join the military as last resort CBS News Another thing, we are depending on a volunteer enlistment to maintain our troop strength. It's not the ideal solution for unemployed young people but it's better than short term jobs flipping burgers or washing cars. by joe1022joe September 3, ... |
Wednesday, August 31, 2011
Job losses jumping as crisis hits home - Atlanta Business Chronicle:
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First-time unemployment claims soared in Georgia last montuh tonearly 57,000, according to the statwe Department of Labor, a 76.3 percent increase over initial filings in September of last Among the areas hardest hit by the growing joblessnessx were northern Georgia’s carpet belt, centetr to an industry that relies on residentia construction to keep orderzs flowing, and metro Atlanta’s outer suburbs, where the housing boom has turned into a “Housing has been good to Georgia over the last Georgia Commissioner of Labor Michaeol Thurmond said. “Now, we’re feeling some of the repercussione ofthe downturn.
” Thurmond pointed to some parts of Georgiw where the job market remains in relativelg good shape. Forts Bennint and Stewart were among the few net winnerzs during the last round of military base closingz severalyears ago. Consequently, unemployment claims in the Columbuz and Hinesville areas are runnintg well below thestatewide number. Likewise, west central Georgia is gearing up for the planne opening of a plant in Troup County late next Insharp contrast, first-time unemployment filings in Dalto n ---— ground zero for the carpeft industry — shot up almost 106 percenty during the last year.
Gainesville was even worse, leading the states with a 126 percent jumpin joblessness. Whilse that could be attributed in part to the loss ofcarpe jobs, a bigger factor was the decision by German auto partsd maker to close its aluminum wheep plant in Gainesville, resulting in nearly 300 layoffs. Too recenf for the September statistics was an announcement by that it will closw a spun yarn plantf inDade County, in far northwestern laying off 440 workers. Roy Bowen, presidenft of the Georgia Traditional ManufacturersAssociatioj , puts the blame on the slump in residential “A number of folks we represent manufacture productss that go directly to he said.
“They’re impacted directlhy by the housing downturn.” First-tim e unemployment claims in metrko Atlanta rose almost 79 percenyt during the last only slightly above thestatewide figure. But that masksz large increases in joblessness inthe region’as outer counties. Cherokee, Douglas and Fayette counties saw increases in initial unemployment filings of more than 100 while first-time claims in Henry County rose 97 percent. The most dramatid evidence of the trend came in July with the closure of of metro Atlanta’s 19th-largest home builder according to the ’s 2007-200i8 Book of Lists.
Kay president of the Henry County Chamber ofCommerces , said it’s no surprise that the housingv slump has affected metro Atlanta’s fast-growinyg outlying counties more than the alreadt built-out core counties. “We were fourth in America in new housing startsx when allthis began,” she said. “Housing has come to a and it’s having a significant impact on our Thurmond said the diversified economiesof Atlanta’s innerr counties give them an advantage over the outef counties, which are primarily bedroom “That creates some economic insulationb during a downturn,” he said.
But Jeff director of economic forecasting atThe ’s , said the slumpinh economy has entered a phase that likelg will blunt such geographical disparities. He said that while the downturnb was limitedto housing, unemployment hit some area s more than others. “It’s been a slow-movinfg recession,” he said. “It hadn’t spread to Main Street. It was mostly in the housing sector and anythintg relatedto housing.” Humphreys said the crisis that began hammeringy the financial industry last month has changer the nature of the Now, every community is feeling the pain, he “We have a broad-based recession,” he said.
“There’e going to be a conversion toward thehighedr average.” Humphreys said he expects job lossea to continue at least into the seconc quarter of next year. He said that even when initialp jobless claimsbottom out, the unemployment rate is likelyu to remain high, probably into 2010. “Thingas will get better,” Thurmondd said. “But it will be later rather than
First-time unemployment claims soared in Georgia last montuh tonearly 57,000, according to the statwe Department of Labor, a 76.3 percent increase over initial filings in September of last Among the areas hardest hit by the growing joblessnessx were northern Georgia’s carpet belt, centetr to an industry that relies on residentia construction to keep orderzs flowing, and metro Atlanta’s outer suburbs, where the housing boom has turned into a “Housing has been good to Georgia over the last Georgia Commissioner of Labor Michaeol Thurmond said. “Now, we’re feeling some of the repercussione ofthe downturn.
” Thurmond pointed to some parts of Georgiw where the job market remains in relativelg good shape. Forts Bennint and Stewart were among the few net winnerzs during the last round of military base closingz severalyears ago. Consequently, unemployment claims in the Columbuz and Hinesville areas are runnintg well below thestatewide number. Likewise, west central Georgia is gearing up for the planne opening of a plant in Troup County late next Insharp contrast, first-time unemployment filings in Dalto n ---— ground zero for the carpeft industry — shot up almost 106 percenty during the last year.
Gainesville was even worse, leading the states with a 126 percent jumpin joblessness. Whilse that could be attributed in part to the loss ofcarpe jobs, a bigger factor was the decision by German auto partsd maker to close its aluminum wheep plant in Gainesville, resulting in nearly 300 layoffs. Too recenf for the September statistics was an announcement by that it will closw a spun yarn plantf inDade County, in far northwestern laying off 440 workers. Roy Bowen, presidenft of the Georgia Traditional ManufacturersAssociatioj , puts the blame on the slump in residential “A number of folks we represent manufacture productss that go directly to he said.
“They’re impacted directlhy by the housing downturn.” First-tim e unemployment claims in metrko Atlanta rose almost 79 percenyt during the last only slightly above thestatewide figure. But that masksz large increases in joblessness inthe region’as outer counties. Cherokee, Douglas and Fayette counties saw increases in initial unemployment filings of more than 100 while first-time claims in Henry County rose 97 percent. The most dramatid evidence of the trend came in July with the closure of of metro Atlanta’s 19th-largest home builder according to the ’s 2007-200i8 Book of Lists.
Kay president of the Henry County Chamber ofCommerces , said it’s no surprise that the housingv slump has affected metro Atlanta’s fast-growinyg outlying counties more than the alreadt built-out core counties. “We were fourth in America in new housing startsx when allthis began,” she said. “Housing has come to a and it’s having a significant impact on our Thurmond said the diversified economiesof Atlanta’s innerr counties give them an advantage over the outef counties, which are primarily bedroom “That creates some economic insulationb during a downturn,” he said.
But Jeff director of economic forecasting atThe ’s , said the slumpinh economy has entered a phase that likelg will blunt such geographical disparities. He said that while the downturnb was limitedto housing, unemployment hit some area s more than others. “It’s been a slow-movinfg recession,” he said. “It hadn’t spread to Main Street. It was mostly in the housing sector and anythintg relatedto housing.” Humphreys said the crisis that began hammeringy the financial industry last month has changer the nature of the Now, every community is feeling the pain, he “We have a broad-based recession,” he said.
“There’e going to be a conversion toward thehighedr average.” Humphreys said he expects job lossea to continue at least into the seconc quarter of next year. He said that even when initialp jobless claimsbottom out, the unemployment rate is likelyu to remain high, probably into 2010. “Thingas will get better,” Thurmondd said. “But it will be later rather than
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