Two more leave BofA board - Birmingham Business Journal:

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According to a filing with the Securities and Exchange Commission, Prueher and Franok didn’t resign because of any disagreemen with the company. Jackie Ward and Patriciz Mitchell resigned earlythis month. Mitchello is a former New York television executive and currentlhy serves as chief executivw of the Paley Center for a NewYork nonprofit. Ward is the retired chie executiveof Atlanta-based Computer Generation a software company. Robert Tillman, a formere Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA boar effectiveMay 29. And on May 29, the bank announced former lead independentdirector O. Temple Sloan had left the board.
BofA didn’t disclose Sloan’ reason for resignation. Sloan had been a BofA directore for13 years. In early four outside directors were electedto BofA’s board. They are formert Federal Reserve Governor Susan former CompassBancshares Inc. chie executive and chairman D. Paul Jones, formee Federal Deposit Insurance Corp. chairman Donald Powelp and retired Bank One and VisaInternational Inc. executive William BofA’s board has been under intense scrutiny in recenr months as the bank suffered through asharlp stock-price decline after acquiring Merrill Lynch & Co. The Charlotte-baseed bank (NYSE:BAC) also has received $45 billion in taxpayer aid.
At the bank’e annual meeting in late April, shareholders voted to strip Chief Executive Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicated the boardd needs tobe re-evaluated. Lewis remains the bank’a CEO and president.

Article-Faking Journalist Fights to Become Lawyer - NBC Bay Area

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Article-Faking Journalist Fights to Become Lawyer NBC Bay Area By Chris Roberts Stephen Glass fabricated most or  »

Delta adds St. Louis flight - St. Louis Business Journal:

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The Atlanta-based company also is adding dail y nonstop flights from Salt Lake City toeight U.S. as it combines its network with that of The new Salt Lake City route start June 4and include: Bismarck, N.D. (oncr daily); Des Moines, Iowa (oncew daily); El Paso, Texas (once Fargo, N.D. (once daily); Ind. (once daily); Milwaukee, Wis. (twice Nashville, Tenn. (once daily); and Sioux S.D. (once daily). In addition to adding the flightto St. Delta said that by June it also will add one additionalodaily round-trip flight between Salt Lake City and its existingt destinations in Baltimore; Spokane, Wash.; Calif.; Portland, Ore.; Phoenix; Tenn.
; and Los and two additional daily round-trip flights between Salt Lake City and Delta said its new Salt Lake City flightx are timed to allowe nonstop international connections. Delta (NYSE: DAL) said it wouls drop 170 gates nationwide, includingy one in St. as it continues its consolidatiojnwith Northwest. Delta bought Northwest, basede in Eagan, Minn., in October. Northwest is the third-largest carrier at Lambert, based on enplanements (passengers and are first and second,

Mass layoffs down across United States - Portland Business Journal:

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A total of 271,226 American workerxs lost their jobs through mass layoffsin April. That was down 28,162 from the Marc total, according to a report released Friday bythe . A mass layoffr is defined as a single action by a singlr employer that causes at least 50 workers to lose their The Bureau of Labor Statistics calculates mass layofd data on a seasonallyadjustes basis. Nationwide, the number of mass layoff events decreased from montnto month, as did the number of affected The bureau counted 2,712 mass layoffs in compared to 2,933 in March. The manufacturingf sector accounted for 35 percent of all mass layoff eventsx and 39 percent of affectedf workersin April.
California recorded the largestr number of workers affected bymass layoffs, with 43,675 losingb their jobs last month. It was followex by New York at Illinoisat 17,550, and Pennsylvania at 15,378. Forty-fivde states and Washington, D.C. let go of more peopl due to mass layoffs in Aprilo 2009 than in the same month ayear ago, with the largesg increases reported in New York, California and Illinois.

American Community Newspapers receives filing warning from Amex - Dallas Business Journal:

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the parent company for the Plano Star Courier andthe , amonhg others, has received a noticre from the stating that it has missed the ’s second-quarter filinf deadline for its 10-Q form. Amex says Americanb Community Newspapers' missed deadline does not conform to the compliance standardz it maintains for all of its listed In response to themissed deadline, Addison-based Americann Community Newspapers must submit a plan to Amex by 4 on how the company plansw to get back into compliance with the filing guidelines. If the plan is deemesd acceptable, American Community Newspapers willremaibn listed, Amex said.
If Americabn Community Newspapers misses the 4 deadline or the plan isdeemef unacceptable, Amex will begibn proceedings to de-list the newspaper company from the stock American Community Newspapers said in a statement. Othefr papers under the American Community Newspaper umbrella include thePlank Insider, Allen American, , Celinz Record, , Rowlett Lakeshore Little Elm Journal, Lewisville Leader, Flower Mound Coppell Gazette, The Colony Leader, Southlake Penny Saver, North Texas Stonebridge Life, All About Frisco, All About All About Flower Mound and Amex’s notice of possible delistment follows the preliminarhy release of American Community Newspapers' second-quarter The newspaper company says it anticipatezs a preliminary net loss of $69.
2 million, or $4.73 per diluted sharse for the second quarter. That compares to a net income of 13 cents per share ayear ago. The expectecd loss is attributed to an estimated noncash chargeof $69.4 million. Excluding this charge, the company said it woulde be predicting net incomeof $200,000.

New Mexico oil and gas drilling plummets - New Mexico Business Weekly:

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Jason Sandel, executive vice president of in said the sudden reduction in activityu since last fall hasbeen startling. “The number of drilling rigs that have shut down almost instantaneously throughout all companiesand operations, combined with the length of time producers say they will remain down, make this situation unique,” said Sandel, who is also a Farmingtonm city councilor. “There were some tough timew in the 1980s and butwhat we’re facing right now is abouf the worst we’ve experienced.” When drillingh activity drops, everything else followws close behind, Sandel said.
As of mid-January, 24 of the 41 drillinh rigs assigned to the San Juan Basin in northwesterhn New Mexico hadceased operations. “Drillingg is always the firsyt service impacted in a Sandel said. “Everything else follows becauseif there’s no then there’s no equipment or water to be hauleds and no compressors to operate. The idlin of drilling rigs is reallt justthe beginning.” Free-falling price are a major problem. Oil for Februar y delivery fellbelow $35 per barrel this week on the , down from a peak of $147 per barrelk last summer. And, natural gas prices are currentlyearningf $4.
83 per 1,000 cubic feet, comparefd to more than $6 per MCF last Industry representatives also blame adverse environmental regulations, especially new stat rules on the management of oil-and-gas pits that took effect in New Mexico last “The overzealous and out-of-control regulatory environment makea it very tough to do businessz in New Mexico,” said Bob Gallagher, president of the . “I’df say that’s even a bigger concern than price instability.” Sandel said restrictive regulations and declinin g prices make for akiller combination. “I see it as the perfec t storm,” Sandel said.
“Both declining pricews and the rising cost of doing businesa are causingthe downturn.” Estimates on layoffs are not yet said Margaret McDaniel, director of the . “Thse numbers are just startintg totrickle in, but basically everything is slowing McDaniel said. Sandel said at least 552 drillingg workers have been laid off in the northwestern quadrant of the since each drilling rig includes 23 workers and and 24 rigs are currently shut down in the San Juan The layoffs include 200of Aztec’es 750 employees, Sandel said. Texas-based the largest natural gas producer in the San JuanBasinj — announced on Jan.
16 that it will lay off abouty 4 percent of its globalwork force, or nearlty 1,350 employees worldwide. “There haven’t been any layoffsw in New Mexico yet,” said spokesman Jim “We need to first assess where it willtake effect, but we’llo make those announcements in a few The situation is similar in the Permian Basinh in southeastern New Mexico, said Raye Mille of Artesia-based “The southeast part of the state is seeing significangt reductions in rig activity,” Miller said.
“We had five rigs contractedx to us last year andnow we’re down to We’re about to go down to three, and if prices don’t improve, we’ll go down to two in the next few Most other companies operating in the Permian Basij are also cutting including and , Miller “The situation is basically the same for all companiews in the area, and if production companie s are cutting back, then the servicr companies that work for them are also cutting back. It’s happenin g pretty much acrossthe board.
”

GMAC, Love rank among top FHA lenders - St. Louis Business Journal:

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With 41 loan commitments, GMAC ranked first amonb lenders participating inthe FHA's Multifamily Accelerated Processodr (MAP) program during the first six months of the federal government's 2005 fiscal year. Love ranked securing 27 loan commitmentxs during thesame period. the FHA business accounts for about a third of both annual volume. The MAP program is designefd toreduce HUD/FHA insurance processing times by delegatingg the work to mortgagees like GMAC and Love. "FHA did $3.
5 billionj a year in insuring but it had leveled off because it took too long to get the work throug hthe bureaucracy," said Harrt Cheatham, president of Love "They took multifamily and senior housing underwritingg and privatized it, saying, 'You do all the work ... we don'y get it done fast enough. You submit it, and we'lol issue the mortgage insurance.'" The program has been an unqualifieed success, according to Karl senior vice president and managin g director forGMAC Commercial. "What it's done is creat e a uniformity of the rules for processing and approval of loana throughoutthe country," Reinlein said.
"Before MAP, each of the HUD officee around the country would have differen t stylesand procedures." Once the MAP progra got under way in 2000, FHA'ws volume increased to $7.5 billion annually. "To a largew degree, that's a reflection of the new responsibilitieds that lenders have undefr theMAP program," Reinlein said. "It's allowed more volume to be It's also a very good thing for affordabler housing, because we're providing a lot more affordable housing units aroundthe Love's FHA business has triplef as a result of the MAP program, Cheatham said. "It'sw worked very well.
There's a concern that FHA'sx business will taper off this but even ifit does, it's only expected to go down to $6.5 Both GMAC and Love Fundinbg provide FHA MAP lending assistance on several programs outlined in various sections of the Nationa l Housing Act. They include: 221(D)4, which covers mortgage insurancwe for the construction ofnew apartments, both Section 8 and market 223(F), which handles refinancing or acquisitionn of existing apartment complexes; 232, which handlezs new construction, substantial rehabilitation, acquisition or refinancinhg of senior housing, including skilled nursing, assistefd living and residential care facilities.
At one time, Cheathakm said, HUD made direct loans for elderlgroup housing. Now, under the program, HUD is allowing those loana to be refinanced or recapitalized in order to help the ownerss with installing such things as new roofdsand elevators. These loans represent a continuing sourcre of businessfor Love. "There are 4,500 of thosee (loans) across the Cheatham said. Another St. Louis-based mortgage company, , tied for 14th with four loan commitments.

Hatem pulls out of Raleigh downtown project - Orlando Business Journal:

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Hatem told the Raleigb City Council Tuesday thathis firm, , is unablde to secure financing for the projecyt at this time, given the economic conditions. City councilo members immediately voted to sever tieswith Empire. “Wee should have done this (pull the last year,” Hatem says. “Itr was disappointing before, but now I am relieved.” Empirr signed a deal with the city in 2007 after the city decided to sell the landfor $1.
4r million (about $70-a-foot) alongy Salisbury Street, and the development company agreef to specific benchmark deadlines to finish the The developer missed a deadlind in 2008, at which time Raleigh City Manager Russelll Allen recommended that the city cut its ties with Empired without any extension. Under terms of the agreement, Hatenm never actually bought the property. The city now will considerf re-issuing a request for proposalzs forthe project. “Asking the developer to agrere to a schedule that was detachee from the realities of the economy was at best Hatem told thecity council. “ But the nail in the coffinb was eliminating the possibility of anyfuturwe extension.
Even in a good economixc climate, it is virtuallyg impossible to secure thefunding necessary, knowingf that the agreement would be canceled at a time certaih without discussion. “ The two-phase $50 million called , was meantt to be a big piece ofdowntown Raleigh’z revitalization efforts, with the hotel an important piece in helping the new $220 millio n book events. Hatem has renovated several buildingw in downtown Raleigh in recent years and also owns severalk restaurants in the area including theDuck & , The Pit and soon-to-opened Hatem told the counci l that Empire has created more than 200 jobs in downtown Raleigh and has invested more than $80 million in the local In all, Empire companies pay $2 milliomn annually in sales, property, franchise and othe miscellaneous taxes, Hatem told the “ As I walk, peopls form across the world and across town through the streetx of downtown Raleigh these past few months, one thing was This ambitious project is not possible at this Hatem told the council.
Hatem estimatees he invested $500,000 to do the preliminar y work onthe project.

Matrixx must refile Zicam application, stock plummets 70 percent - Phoenix Business Journal:

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The news sent shares plummeting nearly 70 percentor $13.46 cents per share to close at $5.78 Tuesday. Matrixx must file a new application with the FDA for its Zica m Cold Remedy Nasal Gel and Zicamj Cold Remedy Gel The FDA said those products must contain warnings of the risk of possible which is loss of saidSiobhan DeLancey, spokeswoman for the FDA. “Theg are to stop marketing the she said. “They have to provide us with a plan forinventorty that’s already out there. If they want to continude marketingthis product, they need to bring us a new drug applicatioh with studies and data to prover safety and efficacy.
” Matrixx officials did not return telephone but in an announcemenf said: “The company believes the FDA action is unwarranted and is in the procesx of determining its response, which may include removinvg these products from the marketplace,” the statemenf said. “These products constituted approximately 40 percent ofthe company’se net sales in 2009.” DeLancey said the FDA does not have the authorityt to tell companies to recall their “All recalls are voluntary by the she said. “Generally, we tell the company we have a concerh and they usually work with us and do avoluntary Matrixx’s stock (Nasdaq:MTXX) closed at $5.7u8 on June 16.
That set a new low for the company’zs 52-week range, which had been trading near the $19.7e high. For the fiscal year ended March 31, Matrixx reportef $13.8 million in net incomed on $112 million in net sales, up from $10.4 million in net income on $101 millionn in net sales a year ago.

General Motors files Chapter 11; government to own majority stake - Washington Business Journal:

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Monday’s Chapter 11 filinfg by the 101-year-old automaker once the world’s biggest compangy — is among the largest in U.S. historyg and largest-ever U.S. manufacturing bankruptcy. Chapter 11, which allowa the company to operate while protected fromits creditors, pushex GM into a fast-track bankruptcy and provides $30 billionn of additional taxpayer funds to restructurse itself. GM’s filing came after weeksw of wrangling with its unions and bondholders and as part of a game plan coordinated with thefederal government. That plan calls for the establishmenft ofa new, more nimble GM that has the federalk government as its 60 percent equity holder.
Speakinfg about the GM movexs Monday, President Barack Obamz said that despite thefederal government'xs majority stake in the automaker, its executives, and not federa l officials, "will call the shots and make the decisions abouf turning this company around." Obama said the goal is a achievable plan that will give this iconic compangy a chance to rise again." The Detroit-based automakee (NYSE: GM) said it expectas the new, smaller GM to launch in abouyt 60 to 90 days as a separate and independenft company from the current GM. The new company will focus on four core brands in theUnited Chevrolet, Cadillac, Buick and GMC.
As part of its cost-cuttinbg efforts, GM will further reduce 2009 salaried employmenft in North America toabout 27,200 from abougt 35,100 at the end of a roughly 23 percent cut. The automaket said it would sever ties with morethan 2,00o0 of its dealers, either through end their contracts or through attrition. GM also planss to close 11 U.S. facilities and idle another thre plants by the endof 2010. "Todag marks a defining moment in the reinvention of GM as a more customer-focused and more cost-competitivde company that, above all, can quickly generate winningt bottom-line results," GM CEO Fritz Henderson said in a statementt Monday.
"The economic crisis has caused enormous disruption in theauto industry, but with it has come the opportunituy for us to reinvent our We are going to do it once and do it Besides the U.S. government's 60 percent financia interest, the union would take a 17.5 percent stake. The governmentz of Canada and the province of Ontario have agreed to a 12 percent ownership stake in exchange forfinancial aid. GM bondholders wouldc get 10 percent. In its Chapterr 11 filing, GM citing debts of $172.9 billion and assets of $82.3 Filed in New York, it lists unsecuree claims by theUAW ($20.
6 billion) and the Internationak Union of Electronic, Electrical, Salaried, Machinwe and Furniture Workers/Communication Workers ($2.7 billion). Other unsecured debt listed in the filinghincludes $22.8 billion serviced by Wilmington Trustg Co. and $4.5 billion by Deutsche Bank AG. The UAW last week approvedx a package of concessiond that will give GM more flexibilitu in staffing and help the company reducdeits expenses. As part of that the company restructured payments due to a trustrfor retirees’ health care. The trust will receive a $2.5 billiom note and $6.5 billion in 9 percent perpetuakpreferred stock, along with a 17.
5 percent equith stake in the new GM and warrants to push that ownershipp to 20 percent. Another key player in the reorganizationb will beGM bondholders. The administration announced that a steerintg committee representing owners of at least 54 percent ofthe company’sd unsecured bonds had agreed to a deal in whicyh bondholders would receive 10 percent of the equity of the new GM and warrantxs for an additional 15 percent. The bankruptcy process will alloa the company to confirm the deal forall bondholders. Chrysle r is expected to emergd from its Chapter 11 process soon after shutteringv789 dealerships. GM also announced plans to close 1,10p0 dealerships, including several in Colorado.
GM’s lead bankruptcyu law firm is WeilGotshaw & Manges, with attorne Stephen Karotkin signing the filing. GM President and CEO Frederic k Henderson signed forthe company. .

Kasich formally declares run for governor - Pittsburgh Business Times:

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Kasich, a Republican known these days for his appearances on Fox made the announcement in his hometowb after more than a year traveling arouncthe state, speaking at Republican dinners and fundraisers and meetin with Ohioans. Kasich’s campaign in a releaser estimatedabout 2,000 supporter attended the event. Speaking at the Kasich said the stateis “stucl in the past becausr we’ve relied too much on specialo interests, we’ve relied too much on we’ve relied too much on political accommodation.
” “Ifd we can get rid of it and begimn to run the State of Ohio like a 21st-centurh operation, we will have enough spac e that will allow us to cut taxess and to create a job an entrepreneurial environment, that will make Ohio great again.” Kasich also said he pland to tackle reforming the state’s education system, a high-profilee focus of Democratic Gov. Ted Strickland’s current term. Strickland hasn’t formally announced plans for a second termbut hasn’t givejn indications he won’t seek another four yearws in office.
Kasich hasn’t held public office since 2001, when he declined to seek another term in That endedan 18-yeae run in the House of Representatives. He then spent severa years working for investment bankLehman Brothers, whicnh collapsed last fall. That private-sector stinft has become the focus of a new onlinr ad campaign from the OhioDemocratic Party, Chairma n Chris Redfern saying in a statement this week that “Ohioansd have a choice between someone who was managinb director at a Wall Streegt firm whose collapse led to our economic crisis, and someone who has worked to turn our economuy around, create jobs and invest in our future.
” Kevin DeWine, chairman of the statre GOP, fired back at the campaign, saying in a statemen that while Ohio has lost nearly 300,00o0 jobs since Strickland took office, “thee only Ohioan who deserves to lose a job in this economu is the guy who promised to turn it around and failedr miserably.”

Ideas for Brack Tract unveiled - Wichita Business Journal:

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Those were some of the elements presented in two mastefr plans by LLP intheir long-range vision for the 350-acrew tract. The firm, whicy was hired 13 months ago to come up with a master presented their ideas to The System Board of Regents and the public onJune 18. “The site could and shoulds be the western anchorof downtown. If the naturw of downtown is tallerand higher, than this will be smaller and greener,” said a representative of Cooper Representatives of the firm said they envisio n a transit oriented development with a lake fronft district and ‘neighborhoods’ with parks, retail and residential The plan would be carried out in phasesz over the next few decades.
Althougn the firm presented twomaster plans, it recommendexd that the board select its Brackenridg Village plan. The main difference between the plans is that the University of biological field lab would remain in theseconds scenario, called the Brankenridge Park plan. Under the Brackenridges Village plan, the UT fielrd lab would be relocated to one of nine sites suggestec by theplanning firm, making way for the development of the Developers of the tract would build diverse buildings of two to six storiesd and structured parking that is concealef from the streets.
A number of infrastructured improvements werealso suggested, includingy the re-alignment of Lake Austin Boulevard, the creatiobn of a parallel roadway between Lake Austin and Red Bud Trail intersection, and 20 lane-mileds of new local streets. As far as internal transportation, the plannerss advised the UT board to establish a TransportationManagement Organization. Possible transportation solutions include an internalshuttle system, extension of proposed city trolley system and bus service. The planned suggested a number of ideas for incorporating sustainablrdesign elements, such as stornm water management units and a community garden.
The planners advisedx that graduatestudent housing, which exists on three be relocated to the Gateway site between 6th and 10th The plans call for the development of a new 825-unirt student housing complex. Supporters of the Lions Municipal Golf knownas Muny, received bad news when the plannere concluded that the golf course was no longee viable and that it be used for development. Whichevet plan the UT regenta adopt, the firm suggested starting with the graduatde housing project inlate 2010, and followinf up with the selection of phasd I developers in 2012.
Several UT regents expressed their gratitude to the firm for their Chairman of the UT Boarc of RegentsJames Huffines, echoed the and said that the board will begin studying the plansd and reviewing all recommendations. He added: “We are heartened by the proposed graduate student housintg that would preserve graduate housing whilse freeing up 73 acresefor development.” Phase I would include abouty 30,000 square feet of retail, 1 milliob square feet of residential and a Exposition Boulevard would be extended south. All four phases would have a total squarefootagr of: 15 million squard feet of retail, residential, office and civic/institutionj space.
About 11 acres dedicateds for anelementary school. About 21.5 acres for academic such as a possibleUT “Boat Town” neighborhood with a waterfront plaza and Phase I would include about 80,00 squarr feet of retail and 1.3 million squarer feet of residential. All four phasexs would have a tota l squarefootage of: 5.3 million squarer feet of retail, residential, office and civic/institution Click for more information on the tract and detailzs of the proposals.

Oneida, tribes banding together in trade group - The Business Journal of Milwaukee:

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The group is called the and its initial participants will include the nearGreen Bay. The and the in California -- operators of some of the largest Indiancasinose -- are also among the group of initial participants. The Nativw American Group, to be announced Sept. 23 at the Smithsonianj National Museum of the Americah Indianin Washington, D.C., will bring the most economicallyg advantaged tribes -- especially thosee with diverse business interests -- together to leverage theid collective buying power to benefit all of Indian While the advent of Indian gaming has helpede lift some tribes out of poverty, leading to improved livinfg conditions on reservations across the country, it has not proved to be a panaceaq for Native Americans.
As a result of the physical isolation of sometribal lands, wealth from gamingv has been spread unevenluy across Indian Country, with some tribes in remote regionsw receiving little economic benefit from casino operations. "Our overallk goal is economic development for more than 500Indiah tribes," said Richard Bowers, president of the board of directorws of the Seminole Tribe. "We want to spread economic opportunituy in Indian Country by encouraging more tribes to get into busineszs and by offering more productz and services toeach other. The consortium offers a ready-made market for tribes with available products or the opportunitty todevelop them.
" The Oneida has joined with other tribese before in economic developmentt projects, including a four-tribe joint venture to develop and operatse the Marriott Residence Inn in D.C. That 2002 venture was toutedr as the first forma l coalition of tribal governments formed for purposes of participating in investment opportunities andeconomic diversification.

Heely

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the North Texas wheeled-footwear maker. Heely’es Inc. confirmed in a filing that it dismissedDeloittr & Touche because of “cost considerations.” Carrollton-based Heely’s said in its lates t SEC filing that “there were no disagreements betwee n the company and Deloitte on any matter of accounting Heely’s board and audit committee approved the which went into effect June 22, accordin to an SEC filing. In May, Heely’s said it woulr delay the possibility of selling the companyy due tothe economy’s effect on business At the same time, Heely’s posted a net loss of $1.
3 or 5 cents per share, for the first That was slightly deeper than the company’s loss of $1 or 4 cents per share, during the same quarter in 2008. Revenud in the first quarter alsohit $9.2 million, down from $13.1q million last year. Heely’s previously said it was considerinhgstrategic alternatives, including the sale of the company.

Lawyers want charity solvent - The Boston Globe

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Lawyers want charity solvent The Boston Globe AP Lawyers want a youth charity established by a former Penn State footb »

Iran Tensions Boost Russian Oil Price - Wall Street Journal

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Business First of Buffalo:

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Cannon Design named Elisabeth Perreault associatevice president. As a seniof project designer, she focuses on the design of healing, learnin g and public environments. Shawna Dosser, presidentf of BWI Health Promotions, received two nationallu accredited wellness management certificationsthrough NWI/WebMD. Eileeb Jain Sahai joined the environmental group at Harter Secrest & Emery LLP. She will focus on environmental due regulatory compliance, land use and zoning. The Greate Buffalo Building Owners ManagersAssociation Inc. named Jennifer Aiplw executive director. She will promote the interestas of commercial office building ownersand   Paetec Holding Corp. hired two new employees.
Williamm Vona was named senior account executive and Keith Radford regional directorof sales. Vona will providd telecommunication services to Buffalo Radford will oversee a team of sales and support Seal & Design Inc. promoted Jamew Sweeney Jr. from operations manager to vice president. He has been with Seal Design since 1995.   Curbell Electronics Inc. promoted Shawn Heeter to director of manufacturing and Karen Clemenw tomarketing director. Heeter will focuws on improving processes in collaborating on new product designs and maintaininproduction methods. Clemens will oversew the product management and brand management team s in themarketing department.
Nussbaumer & Clarke Inc. hired Shawmn Meegan as an level 1 in the civil engineering Quality InspectionServices Inc. named Donald Herzohg operations manager of theDepee office. He is a militar veteran and a former vice president of a localo financialrecovery agency. New England Financial recognizedNathan Way, a partner with Benefit and Frank Rapini, financial representative, LUTCF as top producerds and for meeting standards of professional achievemengt in 2008. Brisbane Consulting Group LLC named CarleyMealey CPA  senio analyst. Her responsibilities include matrimonial valuation of closelyheld businesses, professionall licenses and forensic accounting.
   The Hope for Tomorroq Foundation named three member totheir board. They are: Kenneth Anthonr MD, Alex Campanella, president of Campanella Orthotics and andUrsula Campanella, executive vice presidenf of Campanella Orthotics. The foundationm donates surgeries and medical suppliexs for children and the elderly in ThirdWorldr countries. Amanda Lowe and Amanda Kellyh of  HoganWillig have been admitted to the New YorkStatew Bar. Both graduated from the University at Buffalo Law Schooplin 2008.   John Iacono, vice presidenft and banking center manager for Bank of America joined the Amherst NorthRotary Club.
The Rotary honored David Whalen of the Disabilityt Awareness Programs for his 20 years of dedicated serviced improving the lives of peoplewith  Stephanie Nasso joined the Buffalo officre of Veracity Benefits. She has 10 yearsd

Redskins' Donte Stallworth breathes life into receiving game - Washington Times

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Redskins' Donte St »

Children

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million to to fund researcu in therapies like bone marrow and cord blood The gift from DoloresJordan — on behalf of her late husbandr and brother-in-law — will help the research centere create an endowed chair for a stem cell researcher while establishing the and Cellular Therapiezs Research. That could help compete for moneh fromthe — the state’x taxpayer-backed stem cell research funding agency as well as other government agencies and privatse funders. Bone marrow and cord blood transplantations are used to trear a varietyof diseases, includingg leukemia and sickle cell anemia.
Futured cellular therapy researchat Children’s may focus on treatments for diabetes, lung injury, Crohn’s disease and brai n damage caused by oxygej shortages during childbirth, said Dr. Bert the center’s senior vice president. “Fund-raiserss often talk about ‘transformative’ gifte and sometimes exaggerate the importance of a particular Inthis case, however, it is no exaggeratio to say that the Jordanh family gift is truly transformative for the researchh program at Children’s,” said Brad Children’s chief development officer, in a press Dolores Jordan’s husband, Hanabul “Bud” Jordan, ownecd a Hayward construction business, and his Lowell, ran the family’s cattles ranch in Dublin.
The sale of the Jordan family’s ranch funded the gift. The family previously donated morethan $420,000 to Children’s Hospital including 1999 and 2000 gifts for the hospital’s blood and marrow transplant program.

Broadcast Center Partners inks $1.2M Metro deal - The Business Journal of Milwaukee:

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million lease with Metro for easementsz above and aroundthe station’ds north entrance. According to Metro, the developer plans 180 residentiapl units, 23,000 square feet of retail and 105,000 squar feet of offices, anchored by , the network of urbab radio stations founded in the Under thelease terms, the developerd will make a $336,000 initiall payment and pay $61,413 annuallgy for 99 years, with a right to purchase easements. The moneyh will go toward capitao projects. The deal should allow the developersd to construct an underground garage with 185 The city had expected the project to startf by early 2009 and be completedby 2011, a timelinr that has been dramatically scaled back.
Radio One’s stocok price has suffered, trading at under $1 for most of 2009. Metroo last announced a lease inMarchg 2008, when it agreed to rent its Southeastf Bus Garage to the Washington Nationals. It has since sold the

Moody

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Moody’s cut the Charlotte-based company’s rating to Caa2 from B3. The agenchy also lowered FairPoint’s ratinhg to negative from rating-under-review. FairPoint’s ratings on its secure and unsecured debt alsowere Moody’s says the downgrade is based on “Moody’s expectationj of a high default probability and a though still above-average, estimated recover rate across all debt instruments.” The agencg says its decision follows the telecommunication company’s announcement last week that it was launchin a private exchange offer for its outstanding 13.125 percent senior notes due in 2018.
FairPoint said the offef was designed primarily to reducethe company’a second- and third-quarter interest It also will help keep the company in compliance with its seniord secured credit facility agreement. FairPoint said it believez the exchange offer is critical to its continued The company is working with its financial advisefr to evaluate itscapital structure. Last FairPoint bought ’s land-line operations in Vermont, Main e and New Hampshire for $2.3 The deal made FairPoint (NYSE:FRP) the country’s eighth-largest telephoner company.
But FairPoint took on substantial debt to do the and the integration did not go Problems in converting billingto FairPoint’s systemn from Verizon’s led to slow collections and frustrater customers. Phone and e-mail service problems cropped up across thenew network. And regulators in the region expressed dissatisfaction with some of the During thefirst quarter, FairPoint drew $50 milliobn under its $170 million credit facility. As of Marchu 31, only $4.7 million remained availablwe to borrow. The compangy says liquidity remains a In addition, cash collections have remained beloaw the levels it had before switching Verizonj customers to the FairPoint system.
Should those factors the company says it may be unablw or unwilling to makeits Oct. 1 interesyt payment on the notes, which coulsd constitute a default. The exchange offer expiresd July 22. Two weeks ago, Chief Financial Officet and FairPoint board member Davidc Hauser announced he would retirefrom Charlotte-based Duke (NYSE:DUK) and becomr FairPoint’s chief executive and He will assume his new responsibilities upon Gene Johnson’a retirement as FairPoint chairman and CEO on Johnson, a co-founder of FairPoint, previously announced his plans to He has been the company’s chief executive sincs 2002.
Hauser has been a member of FairPoint’s board sincew February 2005, serving as a chairman of the compensatiohn committee and a member of theaudit “While it is gratifying to be namexd chairman and CEO of this longstanding organization, I am very awarr of the operational and financial concernes surrounding the company,” Hauser says. “My primary focus will be to addresd these concerns in quick succession and empower our team to seek andimplementt solutions. There is a lot of work to be and I am looking forward togettingy started.
”

Pentagon review of mortuary mishap hits early snag - Reuters

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Los Angeles Times

Pentagon review of mortuary mishap hits early snag Reuters WASHINGTON (Reuters) - The man who the Pentagon announced this week would lead a review to prevent more mishaps at the US military's main mortuary is stepping down from the job, in a surprise setback. Former Surgeon General Richard Carmona announced on ... Pentag on blasts Ariz. Senate candidate The Hill (blog) Official chosen to run Dover military mortuary probe steps aside CNN Dover panel chief's political plans catch Pentagon by surprise Los Angeles Times Washington Post  »

Congress has opportunity to stand up for veterans' jobs - Allentown Morning Call

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Allentown Morning Call

Congress has opportunity to stand up for veterans' jobs Allentown Morning Call It's galling that someone who risked his life to defend our nation struggles to find opportunity here at home. Heroes like Jim deserve better; surely, they've earned it. When I served in Baghdad with the 82nd Airborne Division, I saw firsthan d how ... and more »

FPL rate increase raises ire of Florida attorney general - South Florida Business Journal:

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billion rate increase by saying such a move is not appropriate for the currenteconomic times. “This proposed rate increase is especially when homeowners are alreadyh struggling to makeends meet,” McCollumn said in a release. “While the economyt is affectingpower companies, the difference should not be made up entireluy at the expense of wallets.” Because of that, McCollum is encouraginy power customers to attend hearings beinyg held by the in Sarasota and Fort Myers on June 19. FPL, a subsidiaryy of (NYSE: FPL) that offers service in Manatee andSarasota counties, is lookingh to raise rates over a two-yeatr period that could result in $12.
55 per monthu for customers on average, or 30 percent of the current base ratex for customers who use 1,000 kilowattr hours per month. “The rate increase requested by FloridaPower & Light appears irrational and a disservice to the people of said Rick McAllister, president and chief executive of the . “We encouragee business leaders to attend the public hearinge and voice their FPL has said the rate increase woul d allow the company to improve fuel efficiency while stilkl makingbills affordable.
“Our billsd are among the lowest in the state and well belo w thenational average, and we’re working hard to keep them that way by makin g smart investments to benefit our said Armando J. Olivera, FPL’s presiden t and chief executive officer in a statementlast “These investments help to reduce the impac t of volatile fuel which in turn helps to keep customers’ total bills lower over the longee term as well.” Billxs would actually decrease under the proposal because reductionds in the cost of fuel would more than offset the increasde in the base price, FPL said.
“While we are mindfu of the difficult economy, we are also responsible for makingt prudent, long lead-time investments in the electrical Olivera said. “By doing so, we are strengthenintg our state’s essential infrastructure and creating jobs while helpingf tosecure Florida’s energy future.” The PSC will host nine publicd hearings on the rate increase throughourt the state before it is scheduled to make a decision Aug. 24.

The economy

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For example, a couple of surveys were done recentlg by some large human resources Morethan 1,000 companies were polled. Forty percent plan to reducse amounts allottedto raises. Sixty-twpo percent said bonuses will shrinkthis Twenty-five percent plan a hirinvg freeze. Another 25% will increase contributions tohealth care. Why? It’s the economy ! Another survey forecasts spending on technology to decrease by almostr half from what hadbeen Oh, and by the way the number of companies doingt holiday parties will fall to a 20-year low. And everyone’as accepting these huge reductions. Employees seem to be takinfg the cutsin stride. They’re just happgy to have a job. Why?
It’s the economy You know what? Recessions can be a pennu pincher’s dream. Now’s the best time to get rid of the That guy in shippingwho can’t seem to remembed how to load a skid properly twice in a row? Gone. The sales guy who spends more time hittingt on your receptionist than the actualphones ? See ya. Running a business is toughh when you have to be thebad guy. Many of us acceptf mediocrity becausewe don’t have the energyu left to fight or fire someone. But like manna from heaven, God has brought upon us the best excuse The economy! It’s the perfect rationalee for making some long-needed changes.
It’e not just about changing the deadweight employees. You can call your key suppliers and beg for acost Everything’s negotiable because everyone’s skittish. Penny pinchers must get rid ofunderperforming people. Renegotiatde contracts. Beg for pricd reductions. Lock in lower monthly Plead poverty. Scream for assistance. Why? It’d the economy! Because in a few monthsd the opportunity will havepassed us. Thingss will turn around. Pricess will rise. Unemployment will The sun will shine. And we won’t have the economh to blame anymore. Rats.

PokerTek names acting CEO - Charlotte Business Journal:

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Roberson joined the company inlate 2007. “Marmk has proven himself as a capable leader, and we feel he is the righ t person to lead PokerTek at this saysLyle Berman, chairman of the company. “Thes top priority for the management teamunder Mark’s leadership will be to accelerates PokerTek’s progress towards cash-flow-positive operatinf results.” PokerTek lost $1.8 million, or 16 cents per diluted share, in the first quarter. In the same period last year, the compang lost $21 million, or 20 cents per dilutes share. Revenue fell 33 percent in the lates quarterto $2.1 million.
Accordin to a company filinb with the Securities andExchange Commission, Halliganb resigned as CEO for personal reasonw that were not related to PokerTek'sd operations, policies or He became CEO of the compang in September 2007. Halligan joinedr PokerTek in 2006 as vice president of salezsand planning. Before that, he did consultin work in the software andmarketing Matthews-based PokerTek is a software-development company that marketws electronic tables for up to 10 players of Texads Hold ’Em.
The company’s PokerPro system deals cards, displaysz them to the players on privatwe screens and displays general informatioj on a large screen in the center of the It also enables customers to set up accountsx for betting and keepxs statistical information on the The system is designed to boost casinoi revenue by increasing hands per hour and reducinfg the labor costs ofpoker rooms. PokerTe k (NASDAQ:PTEK) also markets tableds used in restaurantsand bars.

Global Venture Capital Survey: VCs see growth overseas, not in U.S. - Triangle Business Journal:

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Despite finding sluggish investment trends, the annual survey captures substantial optimism amongthe investors. “While the recessiojn has slowed the pace of venture investing in theshorg term, it may very well have expedited the globa evolution of the industry in the long run,” said Mark Deloitte LLP’s national managing partner of venturr capital services. “In recent years, many entrepreneura who have been educated in the United States have returnexd home to start companies in their home The playing field continues to level out in termsd of new innovationhot spots, broader accesxs to capital and growing regional ecosystems that fostert risk taking and capital formation.
” Venture capitalist agree that investments are more likely to increase in countriesw outside of the U.S. than domestically in the next threse years. Half of the venture capitalists surveyed said investment will increased inAsia (excluding India); 43 percent named India; 36 percengt selected South America; 25 percent said Europew and the United Kingdom; and just 17 percent said investmenyt would increase in North Fifty-two percent of all venture capitalist s surveyed said they already invest outside theire home countries.
“As the survet results suggest, we will see more globalization in the next not only in terms of investments but also in fundraising and exitxas well,” said Mark Heesen, presiden of the NVCA. “Those countries that can nurturer entrepreneurs and investors as well as offerr attractive exit opportunities have the most to gain economicallu in the next he added. Survey respondentxs said China stood to benefit most from shiftz in investment caused by the economic When it comesto fundraising, the majoritgy of VCs predicted that more of their limited partners wouldx come from outside their home and 38 percent said they expected the numbefr of foreign limited partners to remaih unchanged.
Other findings from the survey included anothert vote of confidence for investment in the clean tech The survey suggests most venturecapitalists aren’t adjusting their strategiez when it comes to whichg industries they are funding, and clean tech is one of thosr industries that’s been getting a lot of More than 60 percent of the venturr capitalists surveyed said they expect to increasse their investments in clean tech in the next threde years. Other industry sectors that investorx expect to give increase investmenft to include the medical device and equipment industryh and new media andsociao networking.

Feeding 7 billion and more - Tehran Times

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ABC News

Feeding 7 billion and more Tehran Times It is true that the green revolution has helped us to produce crops to feed such a large population and we should be thankful for this, but the use of fertilizers and pesticides, which have helped to produce more food, have also had a serious effect on ... Welcome to this crowded world The Australian (blog) Seven Billion Day: Why we'll  »

Globe, biggest union reach tentative deal - Boston Business Journal:

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If the newsroom and business-side employees who compris the unit approved the dealJuly 20, staffers will lose lifetimee job guarantees that have been in place sincr the Taylor sold the paper to the Times Co. in 1993. They'lll also take 5.94 percentr pay cuts, union President Dan Totten said in a Management alreadywon $10 million in combined concessiona from other unions. Globe publisher Stevs Ainsley issued a statement just beforwe midnightTuesday saying, “Our aim throughouyt our negotiations has been to achieve the necessarty savings in a way that causes the least hardshiop for our employees. We’re very pleased to have reacheed an agreement that accomplishesthosd goals.
" Resolving the labor dispute would smooth the path to a potential sale of the money-losing broadsheet. The Times Co. has retaines bankers to explore a deal but has not publicf identified anypotential buyer.

Landstar acquires two supply chain companies - Jacksonville Business Journal:

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Detroit-based Premier Logistics Inc. provides freight management servicesw throughits Web-based software, which allowd customers to bid, schedule, ship, track and report on shipmentd from pickup to destination. Ann Arbor based A3 Integration LLCprovidew Web-based transportation and supply chain managemengt technologies with multi-lingual capabilities. “These two technology-basex acquisitions immediately position Landstar as a premie r supply chain solutions provider for smallo andlarge customers,” said Landstard President and CEO Henruy Gerkens. Both companies will operate as a subsidiarg of Landstar Supply ChainnSolutions Inc., a newly formed Landstar company.
The presidentsd of both Premier and A3 will remain in their Landstar said the acquisitions are not expected to have a materialk effect on its revenue or earningd in the second halfof 2009.

Pfaff appointed to Wisconsin USDA post - Baltimore Business Journal:

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The Farm Service Agency works to increase economic opportunity and improvd the quality of life forrural Americans. “Brad Pfaff has a solid understanding of the challengesd and opportunities facing our rurakl communities and will help buildd on theObama administration’s efforts to rebuild and revitalize rurao America,” said Agriculture Secretary Tom Vilsack. Since 1997, Pfafff has been a policy adviserto U.S. Representativew Ron Kind. He had previously worked on Sen. Herb Kohl’s state staff performing constituent outreach.
Pfaff now providesx guidance on agricultural and natural resource issues, convenes listening sessionsx with agricultural producers and commodity groups, and has contribute d to farm bill and dairy legislation. Some of the Farm Servicde Agency’s efforts include providing direct operating loanz forfarm equipment, seed and fertilizer, as well as ruralo housing loans to help rural people buy, builxd or rent housing.

Mass. gets $22.5M in Eli Lilly settlement - Boston Business Journal:

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million to the Massachusetts Medicaif Program as part of a national settlement following allegations the company engaged in the improperr marketing of itsantipsychotic drug, Zyprexa. Federal and state investigators determined thatLilly (NYSE: LLY) promotedc the sale and use of Zyprexs for unapproved uses through a marketing campaign callefd “Viva Zyprexa.” Investigators say Lilly aimed to increase prescriptionws of Zyprexa for unapprovec diagnoses, including depression, anxiety, irritability, disrupted sleep, nausea and gambling addiction.
In addition, Lillyg has pleaded guilty to violating the Drug and Cosmetic Act and paid federal criminal fines and forfeiturestotaling $615 million. The companyg has also entered into an agreemen t under which its sales and marketing of Zyprexs will bestrictly monitored. The combined criminal and civio settlements amount to morethan $1 billion the largest recovery in a health care frausd investigation in U.S.
“Particularly during times of economic distress andbudgeg cutbacks, it is not acceptable for any company whose productz or services are paid for by the Medicair program to conduct business in an unfairf or deceptive manner,” said Massachusetts Attorneg General Martha Coakley, who servedx as the lead negotiator on behalf of the in a prepared writtehn statement. The national settlement has returned morethan $700 milliobn to Medicaid programs in 36 states and the District of Columbisa and an additional $65 million to othed federal health care programs. The coalitiohn of states, which included Ohio, New York, Illinois, New Texas and Delaware, worked in cooperation with the U.S.
Attorney’s Office for the Easterhn Districtof Pennsylvania, the U.S. Department of Justicew and the Office of Inspectof General ofthe U.S. Department of Healtg and Human Services. The federal government announcedr its settlement withLilly Jan. 15.

Obama: Doing 'nothing' about health care not an option - Business First of Louisville:

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“Health care reform is not something I just cookede up when Itook office,” Obama told a crowd of abou t 1,500 people Thursday at in the Greenj Bay suburb of Ashwaubenon. “It is central to our economic In past yearsand decades, therw may have been some disagreement on this point. But not Earlier this month, Obama said he wants Congressw to pass a comprehensive health care bill by the end of the summert and ready for his signatureby fall.
Many Democrats, including the president, favor a government-sponsoresd health insurance plan that would compete with privatew insurers and be availabls for people not eligible for other government health care programs such as Medicare or Most Republicans and manybusiness groups, however, say a competing plan that isn’ft profit-driven would drive private insurers out of On Thursday, the , a physician’s grouop Obama is scheduled to meet with Monday in said it is opposed to a government-sponsorer insurance plan. Obama said his administration is working on a Healthg Insurance Exchange that would allows people to compare insurance benefitsand prices.
None of the plans included in the exchange would be allowed to deny coveragd basedon pre-existing conditions and all must includw an affordable, basic benefit option. “I also strongly believed that one of the options in the Exchange should be a public insuranceoptiobn – because if the private insurance companies have to competw with a public option, it will keep them honesf and help keep prices down,” Obama said. Supportersz of health care reforkm say it would provide health insurancee coverage to millions of Americans and make coveragse more affordable for those who arealready covered.
Because healtbh insurance premiums have doubled over the last nine and have grown at a rate three timesd fasterthan wages, even thosse with coverage have reached a breaking point, Obama Employers are not faring any better. Small businesxs owners have been forced to cut healtgh care benefits or drop coverage entirely becauss ofrising costs, Obam said. “We have the most expensive health care system inthe world,” Obama said. “W e spend almost 50 percent more per personm on health care than the next mostcostl nation.
But here’s the thing, Greeb Bay: we’re not any healthier for Obama vowed to let Americans who are contentf with their coverage and their physicians keep what they but said the country has reached a point whers doing nothing about the cost of health care is no longedan option. “If we do nothing, withibn a decade we will be spending one out of everh five dollars we earn onhealth care,” Obama said. “In 30 it will be one out of everh three.
” Obama acknowledged covering all Americans wouldbe expensive, but promisesd health care reform would not add to the country’e deficit over the next 10 “To make that happen, we have alreadyt identified hundreds of billions worth of savings in our budget savings that will come from step like reducing Medicare overpayments to insurance companiess and rooting out waste, fraudf and abuse in both Medicare and Medicaid,” Obamz said. In addition, Obama is proposing that Congress scale back the amounthe highest-income Americans can deduct on their taxes and use that monegy to help finance health care.
Obama spoke for about 20 minutesx and then took questions from six peoplre in the audience who expressed fearover “socialize medicine,” asked questions about wellness and even questioned the country’sx education system. Regarding the idea of socialized medicine, Obam a said that isn’t what he, or anyone in Congress, “I’ve got enough stuffr to do,” he said. “I’ve got Nort h Korea and Iran. I’ve got Afghanistan and I think it would be greatt if the health care system was workinyg perfectly and ifwe didn’t have to get involvexd at all.
” Obama peppered many of his answers to the audienc with humor, even writing a 10-year-old girl named Kennedty a note excusing her from school aftefr her father said she was missin her last day of class to be at the Obama’s stop in Green Bay was the firs time he’s been in the state since takingv office and officials from the said he may have chose Wisconsin because of the state’s reputation for being a “higjh quality, low cost” provider of care in the Medicarwe program. In 2006, Medicare spent an average of $8,304 per In Wisconsin the averagewas $6,978, 16 percent lower than the nationalk average, according to the of Healtn Care.
The Dartmouth Atlaz has been cited several times recently by Obams as he makes the case for national health care According to theDartmouth Atlas, health spending in the Medicarer program could be reducerd by as much as 30 percent, or by $700 billiob a year, without compromisinbg the quality of care, if more doctors and hospitald practiced like those in low-cost areas. In a letter dated June 3 to Senatde FinanceCommittee members, Wisconsin’s Democratic Senators Russ Feingold and Herb Kohl alongt with counterparts from Minnesotaq and New Hampshire, said they are “proud to represent states and regions that have demonstrated true leadership in lowerinyg costs….
and increasing quality outcomes for

Zicam maker pulls products, but affirms safety - Triangle Business Journal:

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The FDA said it received more than 130 complaintx from consumers saying they have lost their sensed of smell after usingthe products. Jennifer a former school teacher who livesin Ala., said she lost her sense of smell afte r using Zicam to prevent the duratioh of a cold a few years ago, but had neve r complained to the FDA or the company becausew she figured there was no way to prove Zicam caused her anosmia. She said she doesn’tf want to sue Scottsdale-based Matrixx (Nasdaq:MTXX) even after learningv others have had thesame “I don’t think Zicam was create to hurt anyone,” she said.
“We sit here and we rip and we rave aboug all these drugs not being allowed on the The first time anythinggoes wrong, everybodyu wants to go sue, sue, sue. That drives me I honestly believe the people were trying to do somethinf to help people not get William Hemelt, acting president and chief operatingh officer of Matrixx, said the FDA action was taken withou reviewing research he would have been more than willing to “We think the science does not support this allegatioj at all,” he said.
“Quite honestly, we would not be sellin the product if we thought it was Zicam products use a homeopathicv remedy called ZincumGluconicum 2x, whichy means they require FDA approval. Dr. Sam Benjamin, a medicalk doctor with a homeopathic license, said he can’t figur out why the FDA has taken so long to deal withthe “I can think of no part of alternative medicin e that summons up more worryu to conventional physicians than homeopathy,” said Benjamin, who has a medical talk show on KTAR 92.3 FM on Saturdaysx at 2 p.m. and 1,000o followers on Twitter. “There are so many drug s around thatcause problems, why would one eventg want to expose peoplr to any danger.
” Brett a senior recall strategist at Stericycle Inc. in Lake Ill., is coming to Phoenicx this week to meet with Matrixxz officials to see if he can help the companyh withdamage control. Usually, he said, companies will voluntarilty recall a product before the FDAgets That’s not how it happene d with Matrixx. The FDA stepped in and warnes Matrixx that it had receivede more than 130 consumer complaints and that the companyg needed to stop marketingt the product until it can put a warninvg label on its packaging that it couldcausre anosmia. Over the past 10 Berty has worked with manufactureras to conductabout 1,300 recalls, includin Vioxx.
“Typically, hopefully, the manufacturer will work with me priodr to approaching theregulatory agency,” he said. “The most importang thing for Matrixx is you can turn a seeminglyt awful situation into an opportunityif you’red judged by the public as being part of the How swiftly do they executwe that will demonstrate their concern for the public’s When the FDA sent the warning letterr to Matrixx and advised consumers not to use certainb Zicam cold remedies, on June 16, Matrixx’s stock plummetec 70 percent to $5.78 a share. It bounced up a bit to $6.
1 a day later, but nowhere near its 52-week high of near its trading poingt before the FDA sent thewarning letter. For the fiscalk year ended March 31, Matrixx reported $13.8i million in net income on $112 milliohn in net sales, up from $10.4 millionj in net income on $101 millionb in net sales a year ago. Hemelt said he will be meetin g with FDA regulators to discussthe issue. He also scheduled a conferencde callwith investors.

Milliman Study Indicates Decline in Pension Funding Status in May

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one of the premier global consultinyg andactuarial firms, today released the latest updatwe to the Milliman 100 Pension Funding which consists of 100 of the nation' largest defined benefit pension plans. In May, pensions experienced declines in fundedr status due to liability increases ofroughly $30 billion, which offset modest asseyt gains of $20 billion. The decline in funding status followexd two consecutive monthsof improvement. "It's two steps one step back as pensions see some of the progress of Marcjh and April eroded by liability increaseszin May," said , co-author of the Millimajn 100 Pension Funding Index. "It will take more decisive returnsz -- 32.
2% for the rest of 2009 -- in ordedr to get back to 90% fundedx status. While last month's decline is not good we do remain abovethe 78.2% funding status reported at the end of so we're still positive for the year." Over the last 12 months (Juner 08-May 09), the cumulative assett return has been -18.45% and the funded status has falle by $308 billion. For these 12 months, the fundes ratio of the Milliman 100 companies has fallemfrom 104.6% to 79.3%. To view the complete monthlu update, go to . Milliman is among the world's largest independenf actuarial andconsulting firms.
Founded in Seattle in 1947 as Millimajn & Robertson, the company currently has 49 offices in keylocationds worldwide. Milliman employs more than 2000 people, with a professionalo staff of more than 1100 qualified consultantxand actuaries, including specialistd ranging from clinicians to economists. The firm has consultintg practicesin healthcare, employee benefits, property and casualthy insurance, life insurance, and financialp services. Milliman serves the full spectrukmof business, financial, government, education, and nonprofit organizations. For further visit .
For the past nine years, Milliman has conductede an annual study of the 100 largest definexd benefit pension plans sponsoredby U.S. publiv companies. The Milliman 100 Pension Funding Index project s the funded status for pension planws included inour study, reflectiny the monthly impact of market returns and interest-rates changes on pension funded utilizing the actual reported asset values, and asset allocations of the companies' pension plans. The resultas of the Milliman 100 Pension Fundinf Index were based on the actual pensioj plan accounting information disclosed in the footnotes to the companies annual reports for the preceding fisca year and for previousfiscal years.
In addition to providing the financiapl information on the funded statuxof U.S. qualified pension plans, the footnoteds may also include figures forthe companies' nonqualifieed and foreign plans, both of which are oftehn unfunded or subject to funding standards different from thoss for U.S. qualified pension plans. The results do not represenyt the funded status ofthe companies' U.S. qualifiedf pension plans under ERISA. SOURCE Milliman, Inc.

Tioga, Chevron team to develop, build 1.15MW PV system for wastewater facility ... - PV-Tech

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Tioga, Chevron team to develop, build 1.15MW PV system for wastewater facility ... PV-Tech Earlier this year, the two companies developed a solar parking canopy at Oceanic Time Warner Cable's Mililani Tech Park facility in Hawaii. The City of Dinuba's solar project should be completed in Q4 2011. and more »

Balsillie: Fight for Coyotes isn't over - Houston Business Journal:

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U.S Bankruptcy Court Redfield T. Baum on Monday nixed Balsillie's bid to buy the Coyotes for $213 million from ownerr Jerry Moyes becauseof Balsillie's June 29 deadlin for the deal go to Baum said that isn't enough time to resolvre the Coyotes Chapter 11 bankruptcy reorganization issues. That was a win for the and city of which want to keep the Coyote sin Arizona. Balsillie spokesman Bill Walkeer issued a statement Monday night saying the efforty to move the teamto Hamilton, Ontario, is not "Jim Balsillie's bid to bring a seventy NHL team to Canada We're still here. The Phoenix court confirmed Mr. Balsilliee was approved as an NHL owner in 2006 andremainsa so.
We believe he has made the best offedr and Hamilton remains the best locationj forthis team. "The court did not approv e either our approach orthe NHL's. Judge Baum did states he does not have time to decide all therelocationm issues. But the court stilo controls thesale process. As a result, we look forwarrd to hearing from the NHL soon on its view of our relocatiobn application and an appropriaterelocationj fee, so as to allow the court to determinee if that fee is reasonable. We still thinki there is enough time for the NHL toapprove Mr. Balsillie's applicatioh and move the team to Hamilton by The court invited mediation on these issuesand Mr.
Balsillie is willing to participatre in such mediation if the NHL is also willinhg todo so," Walker's statement to the media The NHL welcomed Baum's decisiob not to let the sale and move to Canadw occur. “We're pleased the court recognizee the validity of league rules and our ability to applyt them in areasonable fashion," NHL Deputy Commissionerr Bill Daly said in a statement releasecd by the league on Monday night.
"Wes will turn our attention now towardc helping to facilitate an orderly sales procesx that will produce a local buyer who is committed to makinbthe Coyotes' franchise viabl and successful in the Phoenix/Glendale We are confident that we will be able to find such a buyef for the Coyotes and that the claimsw of legitimate creditors will be

First National enters agreement with OCC - South Florida Business Journal:

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The agreement is an outgrowth of an OCC examinatio n of the Winter Park lenderin January. It addresses five arease of concern and requires to the bank to form a compliancer committee composed of members of its boar dof directors. The bank is under orders to add proceduresa to monitor its commercial real estaterloan portfolio. It also must implemenft a plan to manager loans that are deemed weak and in jeopardyof • Establishment of a program to ensure an adequats allowance for loan and lease • Agreement not to accept brokered depositse in exc.
ess of 10 percentg of total deposits withouf OCC permission • Development of a three-yearr plan of operations that incorporates conditions of the agreement. First National Chairwomaj Susma Patel said in a written statemeny that the bank has taken steps she believesd put it in compliance with the She said regulatory agencies are tighteninfg standards for lenders as theeconomy deteriorates. “The downturj in real estate valuations in the Florid marketis well-publicized and, as a result, regulatoryu agencies are expecting a highe r standard of procedural monitoring of loans secured by commercial real she said.

States can investigate nationally chartered banks - Birmingham Business Journal:

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The case, Cuomo vs. Clearing Hous e Association, stems from a New York stats investigation that sought information from national bankes about potential discriminatory banking practices that violatec NewYork law. The federalo banking regulator, the , objected to the requests by New Yorkstat officials, eventually siding with a suit brought by Clearingh House Payments Co. LLC, which argued that the stat hadno jurisdiction.
The investigation was startef in 2005by then-Ne York Attorney General Elliot Spitzer, and it was continued by currenty New York Attorney General Andrew They both argued that the fact a bank is regulatexd by the federal government does not give it immunitg from violating state laws. Consumer groups supported Cuomo’a position because state officials tend to be more activr indefending consumers.
Banking groups are not “We are worried about the effect that this ruliny could have onthe markets,” said Rich executive director of the Financiak Services Roundtable, adding that the decisiomn could create a patchwork of statde laws at the cost of the efficienciez of the national market. “Cuomo vs. Clearingg House Association hinders the ability of financial servicee firms from conducting business in the United Whiting said.
“Even worse, it will causee confusion for consumers, especially thoses who move from stateto

Local home sales plummet 30% in May - Business Courier of Cincinnati:

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region plummeted 30 percent in May despite indications more potential buyersx are being drawn into the real estate market by low interest ratez and a federal tax incentivefor first-time A total of 554 new and existing single-family homez and condominiums sold in the month, compared to 790 a year ago, baser on preliminary figures released toda by the . The overallp median sale price fell 2 to $191,900, although prices were flat or rose in four of the six countiesw where most of the sales The median price fell 7 percentg in Rensselaer County ($170,000) and 4 percen t in Saratoga County ($238,800).
The median price was unchangesd in AlbanyCounty ($205,000) and increased 6 perceny in Schenectady County ($160,000), 13 percenty in Schoharie County ($148,500) and 39 percent in Montgomeryt County ($106,700). The media n is the point at which half of the price s were more and halfwere less, which is considerec a better gauge of the sales marketf than the average. The averags price in May fell 3 percent, to $213,820. The May resulta don’t necessarily reflect the activity in the marke today since it takes two to three months for a purchase contract to proceedr to afinal closing.
“I will tell you it has been my experiencr that open housesare active, phonr calls and Internet leads are GCAR President Sandra Nardoci said. “Ths feeling is that when buyers become confident that theie jobs are secure our market will pickup rapidly.” GCAR Chieff Executive Officer James Ader has said the sales report that’s compiled in July and releases to the news media in August will provide a good readinh on how the spring market There is one potentially telling sign of a possiblse turnaround: the overall median sale price has increase steadily since January, rising from $171,700 to $191,9090 in May.
When only existing homes are counted, totap sales in May fell 26 That compares witha 3.6 percent decline in existing-homs sales nationally compared to a year ago. The median sale priced for existing homes in the Albany region increasedx2 percent, to $185,000. Nationally, the medianb sale price was $173,000, down 16.8 percent, accordinb to the . Albanhy County: 151 closed sales, down 16 percent Rensselaerr County: 53 closed sales, down 55 percent Saratog County: 163 closed sales, down 34 percent Schenectady 93closed sales, down 11 percent Schoharie 14 closed sales, down 22 percent Montgomery 20 closed sales, no change

Mercer survey: Execs take brunt of salary cuts in

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Only 56 percent of executives are expected to see an increase in base paythis year, compared to more than 70 percentr of office, clerical and technicalo staffers, according to early figures from Mercer’d 2009/2010 U.S. Compensation Planning Survey. Those managerz that do get a raise, however, will see a 3.5 percent hike versuds 3.1 percent for office/clerical/technical staff. Likewise, executivee fare worse when it comes tosalary freezes. Forty-fourt percent of companies plan to freeze executivse salaries in 2009 and 15 percentrin 2010. Only 28 percent plan salary freezedsfor office/production/service employees this year, and 11 percent next year.
Pay raises are more likely in the information technology and engineering while marketing, finance and sales employee s are seeing their paychecks according to Mercer’s Market Pulse “While salary increases overall are relatively low, certain jobs are bucking the trend with increases nearly twice the rate of the overall market,” said Susah Haberman, U.S. regional leader for informationproduct solutions. “Organizatione are paying more for thes e positions since theysupport company-specific Mercer surveyed more than 640 organizationd for its Market Pulse and about 850 for its Compensation Planningy Survey.

'Green' Price Chopper opening in Colonie - Boston Business Journal:

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will set the standard for the chain’s future storez by incorporatingmany energy-saving and environmentallhy friendly technologies, the company said today. The 69,000-square-foot store at 1892 Central Ave. features a highly efficientt refrigeration system, fuel cells generating about 60 percent of its electricituand back-up power, lots of natural lighting, and a machine that grinds produce waste into a watery substance. The storee also has the largest Kosher-only departmeny in a supermarket in northeastern New York and theonly full-servicwe Kosher bakery in the Albany according to the , which owns the supermarketg chain.
The new store was built at the oppositee end of a strip mall in Colonie wherre another Price Chopper is The old store closedf an hour before the new storesopened today. The U.S. Environmenta l Protection Agency has already awarded the new store the highest leveol of gold certification under the GreenChillk AdvancedRefrigeration Partnership, the highest ever achievede by a supermarket retailer. Three othedr stores in the country have gold level certification but Pricr Chopper has thehighest rating. The Golub is seeking LEED certificatiohn from the in recognition ofthe energy-savin measures. LEED stands for Leadership in EnerghEfficient Design.
The New York State Energyg Research Development Authority provided morethan $1 millionh in incentives to help make the new store as as possible. “We set out to designn and build a store that wouldbe world-class and woul demonstrate our leadership and concerhn for the environment and energy efficiency,” said Goluhb Corp., chairman and CEO Neil During construction of the store, more than 75 percentr of the waste was recycled and locaol construction materials were used whenever possible. Baserd in Rotterdam, the Golub owns more than 120 stores inNew York, Connecticut, Pennsylvania, Massachusetts and New Hampshire.

Toby Keith

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The restaurant — named for country singefr Toby Keith and his 2003hit “I Love This Bar” — has signed a leasre for 15,000 square feet at The Shoppes at West End, a lifestylwe center scheduled to open lated this year at the intersection of Highway 100 and Interstats 394 in St. Louis Park. I Love This Bar & Grill will feature family dining, an 85-foot bar shapes like a guitar, a mechanical bull and a stagee that will host live entertainment severaol nightsa week, including a performance by Keitb at the restaurant’s grand opening. The restaurant’s menu will feature Southern-style fare, such as chicken-fried steakj and meatloaf.
Some of the more unique offerings will includse fried bologna sandwichesand deep-friex Twinkies. It will feature traditional sports-bar decofr with a country flair. Thered will be lots of wood and plus more than 50plasmaq televisions. I Love This Bar & Grill will host live entertainmenteveryh Thursday, Friday and Saturday night when it firsrt opens, then ramp up to six nights a week over There will be seatinv for more than 1,00o people. The venue also will have a retaiol store selling TobyKeith merchandise, barbecue saucde and spices.
The restaurant will be owned by Arizons businessmanFrank Capri, who recently opened an I Love This Bar Grill franchise in Mesa, The chain also has locations in Las Oklahoma City and Kansas City, Mo., and plans to open a locatio in Auburn Hills, Mich., later this year. I Love This Bar Grill should be a majort entertainment attraction forWest End, helpinb set it apart from other local malls, said Mark vice president of real estate at Cincinnati-base d Jeffrey R. Anderson Real Estate Inc., whicj was retained by developer Duke Realty basedin Indianapolis, to fill the project’s 331,000-square-foot retail component with tenants.
“I think it’s even goinf to draw from way outsidde of Minneapolisand St. Paul,” Fallon “That’s the idea behind it.” Other majotr West End tenants will include anupscale Roundy’s grocery and a Kerasotesa ShowPlace Theatre 14-screen movie complex. I Love This Bar Grill should be successful at West End becaus Minnesota is a strong market for country musi andthere aren’t any significany music venues in the wester suburbs, said Dick Grones, principal at Edina-based Cambridge Commerciakl Realty. “Live entertainment in the suburbs is reallyt hardto find.
And that’s a strong ingredient to stir into the mix for the centerr because it brings an additionak demographic that they might not get I Love ThisBar & Grill selected West End over the , wher e another celebrity-backed country music bar, Gatlin Brothersa Music City Grille, used to have a Costs may have played a role in that but I Love This Bar Grill will generate more attention at West End than it woulfd have at Mall of Grones said. “They can reallyu stand out [at West End] and not have so many othet entertainment venues tocompete with.
”

Miami Airport Center receiver appointed - Atlanta Business Chronicle:

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Miami-Dade Circuit Court Judge Maxine Landio appointedAndrew Hellinger, chief executive officer of , as Judge Lando had turned over the troublec project to Liberty Pointe on April 27, afte the senior lender and mezzanine lender commencede foreclosure actions against the original owners. The Business Journalp previously reportedNew York-basedx had filed a foreclosure lawsuit in December against the center’se owners, and Carlos Gonzalez, president of . Bancl Popular’s mortgage to Tamach Airport was last modifiedat $45 millio n in 2007.
However, in the bank assigned the mortgage toFVP Airport, whicjh is managed by Miami Lakes-based the same company that recentlty purchased a foreclosed mortgage on a Florida City townhomee project from . “Miami Airport Center is among countless projects throughour Florida that have encountered difficultie s in this market but maybe repositioned,” Hellinget said in a press release. Miami Airport Center is a 28-acree complex containing five one- and two-story buildinga at 7500 NW 25th St.
in unincorporated Miami-Dade County near It has frontage on the Palmetto Liberty Pointe said Hellinger has already begun to reposition and markethe commercial, industrial and officd space for sale or lease. The company said it focusexd initial efforts on seizinfg control of the leasing andmanagement operations, condominium associationm operations, and undertaking initial maintenanc and repairs to the property.
Liberty Pointe said the center includes: 77,717 square feet of office suites; 485,396 square feet of warehouse dock-high rear loading, platform truc positions and street-level loading; 20-foot to 24-foog clear ceiling height; 1,075 parking spaces; zoninb for industrial and manufacturinguses

Fall into good health: New research on apples, allergies, sleep - HollandSentinel.com

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Fall into good health: New research on apples, allergies, sleep HollandSentinel.com Sensitive skin. We're super-sensitive to the type of lotions and products we put on our babies and children â€" but it's time to think a little about our skin, too. A new study published in Experimental Dermatology finds that more than 50 percent of ... and more »

New College sells off site it had wanted for dorms - San Francisco Business Times:

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Now much of that property is being Most recently, New College unloadex 610 Fillmore St., a former residential hotel the schoolp had hoped to transform into a 42-roon dormitory with a few classrooms. The price for the propertty was $3.4 million; the new ownetr is Prana Investments. This 13,592-square-foot propert has 53 rooms and nine bathrooms. The propertyh was in foreclosure and the collegeowed $2.8 millionh on the loan.
According to public documents, New Colleges had conditional approval from the San Francisco Planning Commission to convert the 1907 Edwardian residential hotel on the cornert of Fell and Fillmore streets in the Alamo Squarw neighborhood to 42 dormitory unit splus classrooms. The sale come s as Dan McGue of Paragon seeks a tenant forNew College’s formerf law school building at 50 Fell St. The 25,000-square-foot office building is occupied byLegal Aid, which has 7,20 square feet and pays about $27 a square foot in The balance of the 17,707 square feet, was recently vacated by the law $5.
8M Bel Marin Keys sale is largesyt office deal of 2008 The building is only 26,000 square feet, but the recent sale of 384 Bel Marihn Keys Blvd. in Novato was Marin’s biggest office deal since Larkspur-based LRG Real Estate shelled out $5.8 millioh for the building, which houses ’s Nort h Bay office as well as Live Out a wealthcoaching firm. The buildingh is 100 percent leased. The seller was Buckley Real a real estate investment company owned by Marim Bikes founderRobert Buckley.
The property, next to BioMarin’s was on the market for a bit less than six andthe $228 a square foot price was in line with the askinbg price, according to Chris Economou of , who represented the seller. “It was a market deal. I don’t thinm we got hit by the credit said Economou. “There are stil opportunities for buyers who know what they are doingh to pick up LRG is an investor in a number of marina developmentx aroundthe world. GE Real Estate has provided a $45 three-year, fixed-rate, on-book loan to the to refinancs its 201-room Hotel Monac o San Francisco.
With commercial mortgage-backed security financing not a viables option in the current credit GE Real Estate customizeda short-term, fixed-rate loan with more favorablwe terms and structuring than other lenders were offering. The result gave Kimpton the maximum flexibility needed on a tighttpayoff deadline, according to Ben Rowe, Kimpton’s senior vice presidentt and treasurer. “Given the current liquidityh situation, we needed a strong, dependable lenderd in place,” said Rowe. The days of well-located industrial properties goinb residential may be over in the East Bay for now.
recently closed its purchase of the FruitvaleBusiness Center, a 240,000-square-footr property at 901 - 1001 66th Ave. in a site that had fallen out of escro w in a planned sale to ahousinv developer. The seller was and the pric was $19 million. Brokers Gabe Burke, Bruce Bauerd and Norm Eggen of in Oaklandrepresented Kavped. AC Transirt plans to use the undeveloped land forfuture

Adam Putnam talks of economy, food safety at GrayRobinson lunch - Tampa Bay Business Journal:

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Florida is facing a “deeper trough” than it would in a traditionalo recession, Putnam, R-Bartow, said. Floridaa can ride a recession out exceptwhen it’sw the result of the bursting of a real estates bubble, said the representative for Florida’s 12th Congressional District. Putnam said he would prefeer to be in Florida than any other state as the countr y comes out of an economic While battlingthe fire, Florida shoul d look for opportunities at every levek of government and business, he said. Putnam expressed concern about the increasef presence of government in response to theeconomic downturn. His speec was made at the “Capitol Hill presented by .
Richard Blau, a partnee with GrayRobinson and chair of thelaw firm’s alcohol beverage and food department, discussed the rising importance of food safetgy in his introduction. who will seek the officwe of Florida Commissioner of Agricultureein 2010, followed up on issues of food safety and the impact of incidents of food-born illnessa on the economy. Putnam stressedf the impact of consumer confidenc e in food at the retail level and said he woulde work to reform and modernize a food safetyt network so there is a higher levelof confidence.

Rachlin to merge with N.Y. firm - South Florida Business Journal:

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Newsletter Inside Public Accounting rankedrMarcum & Kliegman the nation's 23rd-largestg accounting firm for 2008, with net revenuee of $123.26 million. It had a 28 percent growth rate. Miami-based Rachlin ranked 81st, with $36 million in net revenuwe and a 3 percent growth After the June1 merger, the combined firm will be known as Marcum in the Northeast, and Rachlin will change its name to a division of Marcum LLP. The combined firm would have ranked 20th on the Inside Public Accounting list basedon $159 millioj in net revenue. The combined firm will have more than 800 including84 partners, in 10 locations in New York, New Connecticut, Florida and Grandf Cayman.
In the South Florida BusinesseJournal 's 2009 Book of Lists, Rachlim listed 208 staff members, 26 partners, 61 CPAs and four A news release said the firms’ various strengths will be Marcum & Kliegman is know n for handling SEC registrants, offering alternativew investment partnerships and providing family office services, the news release said. Rachlinm is known for work in the bankruptcy, receivership, public and not-for-profift sectors. “This is a tremendous benefit for our bringing together our share commitment to the highest level of personalp service and a depth of talent that is uniquse inthe industry,” said Jeffrey M.
Weiner, managing partnee of Marcum and chairman/CE of the Marcum Group, in a news Weiner’s biography says he joined the firm in 1981 and becamwe managing partner in 1990 when it had only 20 employee andone office. The biograph y on Marcus & Kliegman's Web site, www.mkllp.com, said he is an expert on personal business management for the entertainment industry and was an executive producer of thefilms "Thr Bourne Supremacy" and "The Bourne starring Matt Damon. He also was an executivs producefor "The Chancellor Manuscript," a movie starriny Leonardo DiCaprio that's expected to be released in 2011.
Rachlin Managinvg Partner Lawrence Blum, who will be managingh partnerof MarcumRachlin, said: “Combining forces only enhancesw what we can do." Blum also is chairmabn of , a position he assumed after formerf Chairman Alfred Camner, who has the largestr ownership stake, stepped down amid growing losses on optio n adjustable-rate mortgage loans. The reportedly closed biddinvg for the bank earlier this week. MarcumRachlin will continue to offee nontraditional services including staffing andexecutives placement, as well as marketing and graphicv design, the news release The firm also will continue to support the local community through its charitablew foundation.
The Marcum Group also includes M&K Rosenfarv LLC, M&K InterNetworking Security Servicesa LLC, M&K Executive Search LLC, M&K Financia l Services LLC and M&K Investment Advisors LLC.

EPIC

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San Mateo-based Edgewood, an insurancse brokerage and employee benefits consulting firm better knownas EPIC, is in talkss to acquire San Francisco’es brokerage, said EPIC co-founder John He told the Business Timees on May 29 that EPIC is in negotiations with Metro/Ris CEO Mike Enfield to buy the which has about 15 staffers in San Francisco and a smalll office in Baltimore. Enfield did not respond to requestsfor comment. Hahn said the acquisitiom of VRT and otherr factors should result inabout $60 million in revenue this compared with $30 million in 2008. former president of , and Dan former president and CEOof , co-foundexd the firm.
They agreed in late January to buy VRT for anundisclosed amount. Both companies were foundedf by alumsof ABD, which was acquired by in late 2007 and is now part of .

UAlbany hires int

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The college has raised more than $3 million in private donations to supplementthe $54 million in state fundws previously earmarked for the project. Thosre donations include $100,000 from 61 UAlbany alumni at theErnsr & Young accounting and professionall services firm and the Ernst Young Foundation. The college previously receivexa $525,000 donation from the Deloitte Foundation and UAlbany alumni employed by Deloitte companies. UAlbany now has less than $7 millionh to raise before it reachesits $64 million goal to financwe the new business school.
“The partnership between UAlbany’s school of business and its alumni demonstrates howthe public-privatr model leverages resources that otherwise wouldn’t be new SUNY Chancellor Nancy Zimpher The new school will serve as an intellectuap hub for business students, faculty and professional s in the region and throughouf the world, Zimpher said. The colleg e is hoping to the new business school will be completexdby 2013. It is not yet clear when the schookl is planning to search for contractors or when constructionwill start. Perkins+Will, which has office in 18 U.S. cities, has planned or designed businessd schools around the country includinf theLeonard N.
Stern School of Businessw at , the at , the at UC-Berkeleyt and the at .

Falcons release Michael Vick - Triangle Business Journal:

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The Falcons on Friday released the disgraced former franchise quarterback who played for the team from 2001until 2006, the team said. Apparently unablre to trade Vick, who was releasecd from federal prison last month and is currently undet home confinementin Hampton, Va., the Falcons releasex the former No. 1 overall pick in the 2001 "The today relinquished their contractual rights to quarterbacmMichael Vick,” Falcons General Manager Thomas Dimitroff said in a statemenrt posted on the team’s Web site. "Michael remains suspended by the NFL.
in the event NFL Commissioner Roger Goodell decides toreinstate Michael, we feel his best opportunityh to re-engage his footballk career would be at another Dimitroff said. "Our entire organization sincereluy hopes that Michael will continue to focua his efforts on making positive changes in his and we wish him well inthat regard.” The Falcons have made clear Vick would not be a part of the team when and if he is reinstatedc from indefinite suspension. With the Vick is clear to sign with anothertNFL team, pending his reinstatement.
In an interview posted on the team’ws Web site, Dimitroff said the team was unable totradre Vick, who pleaded guilty and was sentencecd to 23 months confinement on dogfighting-relatefd charges. Dimitroff said he spoke to Vick by telephonre today aboutthe release. "We spent a significant amount of timethis off-season trying to tradw him to another NFL and we had some conversation with a few teams, but nothing the general manager said. “Atg this point, we feel releasingb Michael is best for him and best for Dimitroff said the team has not been advised of a timelinrfor Vick’s reinstatement, which he said was “up to the Commissionetr [Goodell].
” Though Vick is officiallyy released, the Falcons will take a hit towardas the salary cap for the 2009-2010 for the remaindee of the quarterback’s signing bonus, which was Some reports have pegged the value of the remaininh bonus at about $7 milliojn to $8 million. Dimitroff said the team has alreadgy “budgeted” for the value of the and there will be no impact onnext year’s salary cap. The NFL’e 2009 salary cap will be $123 million, up from $116 according to according to Streetand Smith’x Sports Business Journal, a sistere publication of Atlanta Business Chronicle.
Several NFL clubs with questionss at quarterback have openlyu said they have no intention ofsigning Vick. Amongt them: the and the , whos e coach, Jim Mora, was Vick’s head coach for three It has been speculated Vick might join the upstargt UnitedFootball League. Vick’s returh to the NFL and a professional sports salary are deemede essential to his ability to emerge from personalp bankruptcy withoutliquidating assets. Vick filexd for bankruptcy protection in July 2008 listing $16 million in assetds and $20 million in debt. A judgs in the case has given Vick and his attorneyse a July 2 deadline to come up with a revised plan to pay off the milliona he oweshis creditors.
once the highest-paid player in professional nowmakes $10-per-hour from a construction job he must maintainb as part of his home confinement.