ramsburgsyuheo1544.blogspot.com
Shares closed 11 percent lower Mondaat $15.83, on a day the marketzs lost more than 2 percent. Lincoln National said it will targetabout $950 million in preferred stocok from TARP’s Capital Purchaswe Program. It will also try and raise $600 million through a common stock offerinhgand $500 million in senior The underwriters of the offering will have a 30-daty option to buy up to an additional 15 percent of the offeredd amount of common shares from the company.
Lincolj National said it intends to contributeabout $1 billionb of the proceeds to its principal insurance subsidiary, , with the remaininb $1 billion held at the holding company for generalk corporate purposes, including the repayment of short-term debt and investment in the company’s core businesses. In a separate release Monday announcinfanother cost-cutting maneuver, Lincoln Nationa l said that it agreed to sell its British Lincoln National (UK) plc, to SLF of Canada UK Ltd. for an estimatedd 195 British pounds. Lincoln said the transaction, expected to closee on or around Sept.
30, should generater estimated proceeds ofbetween $280 million and $300 million, which will be used for core U.S. SLF is owned by Toronto-based Sun Life where former Lincoln CEO Jon Bosciqa isnow president. Lincoln National said thesew actions supplementdividend reductions, cost cuts, and other actions previousl y taken to strengthen its capital and and solidify the company’s capital position at both the subsidiary and holding companu levels. The Philadelphia-based company believes that TARP participatiomn provides additionalcapital flexibility.
The companuy expects to repay thisfinancing “ae soon as practicable, taking into consideration appropriatde balance sheet strength and capitakl markets conditions.” The finapl level of Lincoln’s participation is expected to be announced by the end of Last month, Lincoln National receivexd preliminary approval for up to $2.5 billion underd the program. It said the exact level of its participation will be determined by the end of this Lincoln is one of six insurance companiexs to receive such The $700 billion Troubled Asseft Relief Program, approved by Congresw last year, was originally intended to buy toxiv loans that were inhibiting bankxs from making additional loans.
But it was also used to make loand to General Motors Chrysler and insurance giant Lincoln National was one of several insurers that applied to becomwe thrift holding companies last fall so they could be consideredx forTARP funds. The insurers had concernzs about the rising number of bad assetxs ontheir books. Lincoln National and othe r insurers saw their stock prices drop in recen months as they waited forgovernmentr approval. As for the stoc k offering, and Merrill Lynch & Co. will serve as globaol coordinators and GoldmanSachs Co. and Morgan Stanley & Co. Inc. will serve as joint book-running managers.
In explaining its decision in aregulatorh filing, Lincoln National said that althougyh the capital and credit markets have show recent improvements, those markets have experience d extreme volatility and disruption for more than a year. “Givebn these conditions, our capitalo strategy is to have sufficient capital to offer downside protection in the event that the capitall and credit markets experience another downturn as well as to support growth in ouroperating businesses,” the company said. Lincoln National said it believes thatthe $2 billionm infusion will provide it with sufficient capital to offset a “stress scenario” analysis for 2009 and 2010.
That scenariol would include credit losses and impairments amountin g toapproximately $1.65 or 2.5 percent based on invested assetd as of March 31. Lincoln (NYSE:LNC), which markets itself as , offerss both insurance and investmentymanagement products.
Wednesday, October 31, 2012
Tuesday, October 30, 2012
Legislator wants Nixon to cut stimulus money for Kokam battery plant - Washington Business Journal:
karnergetajequ1416.blogspot.com
Kokam’s , to be dubbex Summit Battery Park, would emplohy an estimated 900 people with average annua salariesof $40,000. Koka President Don Nissanka has said he hopes to breakj ground before the end ofthe year, probablyy at a site of more than 40 acres in the vicinity of Kokam’ss current 50,000-square-foot Lee’s Summit Nissanka was out of the countryh Monday and couldn’t be reached for Kokam, a startup founded in Octobere 2005, burst into the limelighg this year. picked Kansas City for an assembly facility largel y becauseof Kokam’s proximity.
And with federal stimulus dollare and state money seeking a joint venture involving Kokam landed a commitmen t in April ofnearlg $145 million in incentives from Michigan to build a batter y plant there that’s similar to the one planned The group also applied for federal stimulus Schaefer, R-Columbia, sent a lettefr to Nixon on Thursday proposingv that financing be cut by $11.r million combined for Kokam’s Lee’s Summit plany and another battery plant in Joplin to help preservr $31.2 million in financing for the in which Schaefer called the cornerstone of a $200 milliobn hospital project.
“Every indication that I’m getting is that (Nixon) intends to veto the money for the Schaefer said, adding that Nixon’s veto probablu would kill the entire $200 million “Spending public funds on a cancer hospitakl owned by the citizens of Missouri is always going to win out over givinhg public funds to a private company for a batteru plant,” Schaefer said. “Nobody has told me that the lowef amount wouldkill (Kokam’s Lee’s Summit) project.” Nixobn spokesman Scott Holste said the governor will have an announcement about the budget bill before June 30, the end of Missouri’ds fiscal year.
Nixon and his staff have been reviewinhg the budgetbill “line by line to determinw what the state can Holste said, and they want to keep central services in place. Jim Devine, CEO of the l, said he thoughtt Schaefer’s proposal was “not as a threat as the EDC first thought, “bu you never know in politics.” The EDC issuefd a release Friday encouraging Nixon to keep theKokamm plant’s financing fully in place.
Kokam’s , to be dubbex Summit Battery Park, would emplohy an estimated 900 people with average annua salariesof $40,000. Koka President Don Nissanka has said he hopes to breakj ground before the end ofthe year, probablyy at a site of more than 40 acres in the vicinity of Kokam’ss current 50,000-square-foot Lee’s Summit Nissanka was out of the countryh Monday and couldn’t be reached for Kokam, a startup founded in Octobere 2005, burst into the limelighg this year. picked Kansas City for an assembly facility largel y becauseof Kokam’s proximity.
And with federal stimulus dollare and state money seeking a joint venture involving Kokam landed a commitmen t in April ofnearlg $145 million in incentives from Michigan to build a batter y plant there that’s similar to the one planned The group also applied for federal stimulus Schaefer, R-Columbia, sent a lettefr to Nixon on Thursday proposingv that financing be cut by $11.r million combined for Kokam’s Lee’s Summit plany and another battery plant in Joplin to help preservr $31.2 million in financing for the in which Schaefer called the cornerstone of a $200 milliobn hospital project.
“Every indication that I’m getting is that (Nixon) intends to veto the money for the Schaefer said, adding that Nixon’s veto probablu would kill the entire $200 million “Spending public funds on a cancer hospitakl owned by the citizens of Missouri is always going to win out over givinhg public funds to a private company for a batteru plant,” Schaefer said. “Nobody has told me that the lowef amount wouldkill (Kokam’s Lee’s Summit) project.” Nixobn spokesman Scott Holste said the governor will have an announcement about the budget bill before June 30, the end of Missouri’ds fiscal year.
Nixon and his staff have been reviewinhg the budgetbill “line by line to determinw what the state can Holste said, and they want to keep central services in place. Jim Devine, CEO of the l, said he thoughtt Schaefer’s proposal was “not as a threat as the EDC first thought, “bu you never know in politics.” The EDC issuefd a release Friday encouraging Nixon to keep theKokamm plant’s financing fully in place.
Sunday, October 28, 2012
Employers struggle with health insurance costs - Jacksonville Business Journal:
cicugaha.wordpress.com
billion doctor’s bill, and industry leaderas say it’s causing health insurance plans to increasw deductibles and chip away at benefitsto That’s because when Medicaird and Medicare reimburse health care providerxs at a lower rate than private insurers, some hospitals and doctore shift the cost to commercial payers rather than absorb it. This type of cost-shifting, sometimesd called a “hidden tax,” is estimated to have increaseds hospital and physician costas for privately insured patients by15 percent, according to , a Seattle-basefd consulting firm. Milliman has just released a study commissioned bythe , the and two additionakl health care companies.
It found that cost-shifting annually adds an estimated $1,512, or 10.6 to the average premium for a familyuof four. Scott Serota, president and CEO of Chicago-based Blue Crosws and Blue Shield, said cost-shifting shoulf be an area of focus in the upcomingv comprehensive health care reform expected in the new administrationunder President-elect Barack Obama. Employers absorb the brunt of skyrocketing costs, payingf nearly three-quarters of the shift, according to Milliman. But if they haven’t already, more employers plan to pass costxs on totheir workers.
The Milliman study comes on the heels of a national surveyt to evaluate the health care plans ofnearlyh 2,900 employers, released in late November by Wash.-based . It found that employers held net healtbh benefit cost increases at about 6 percent in the currenty year for a fourthstraighyt year, but that has meant shifting more cost to Employers are evaluating all options. One-thirdd of Florida employers plan toincreasde deductibles, co-payments and out-of-pocket expenses to mitigat e rising costs, according to the Mercee survey of 105 Florida-based Thirty-one percent will increase employees’ share of the premium contribution and 20 percentg will increase employee cost-sharing in some other way.
That’s on top of healtn plan deductibles that doubled last year tomake $1,000p deductibles the norm among U.S. In 2000, about half of employera imposed a deductibleat all, and when they did, the median amount was just $250, according to Mercer. “Employeex are in no better position to pay those saidJanice Donaldson, executive director of the Smalp Business Development Center at the Universitty of North Florida. “That’s a hard sell as an employere to say, ‘Hey, I know you haven’t had a raise this but insurance rates aregoing up.
’ ” Jackiwe Perry, executive director of , said some Jacksonvill e businesses have discontinued coverage to stay and a few have added a retirementt savings account or increased sick and vacatiomn pay to compensate for little or no health insurance The study did not account for businesses with fewer than 10 More than half of all employers in Duval Countyy have fewer than five employees. Mercer respondents estimatef that if they did not make changes to their cost would rise by about 9 Changes to plandesign and/or plan vendorsx were expected to lower their cost increase to 6.4 percent.
billion doctor’s bill, and industry leaderas say it’s causing health insurance plans to increasw deductibles and chip away at benefitsto That’s because when Medicaird and Medicare reimburse health care providerxs at a lower rate than private insurers, some hospitals and doctore shift the cost to commercial payers rather than absorb it. This type of cost-shifting, sometimesd called a “hidden tax,” is estimated to have increaseds hospital and physician costas for privately insured patients by15 percent, according to , a Seattle-basefd consulting firm. Milliman has just released a study commissioned bythe , the and two additionakl health care companies.
It found that cost-shifting annually adds an estimated $1,512, or 10.6 to the average premium for a familyuof four. Scott Serota, president and CEO of Chicago-based Blue Crosws and Blue Shield, said cost-shifting shoulf be an area of focus in the upcomingv comprehensive health care reform expected in the new administrationunder President-elect Barack Obama. Employers absorb the brunt of skyrocketing costs, payingf nearly three-quarters of the shift, according to Milliman. But if they haven’t already, more employers plan to pass costxs on totheir workers.
The Milliman study comes on the heels of a national surveyt to evaluate the health care plans ofnearlyh 2,900 employers, released in late November by Wash.-based . It found that employers held net healtbh benefit cost increases at about 6 percent in the currenty year for a fourthstraighyt year, but that has meant shifting more cost to Employers are evaluating all options. One-thirdd of Florida employers plan toincreasde deductibles, co-payments and out-of-pocket expenses to mitigat e rising costs, according to the Mercee survey of 105 Florida-based Thirty-one percent will increase employees’ share of the premium contribution and 20 percentg will increase employee cost-sharing in some other way.
That’s on top of healtn plan deductibles that doubled last year tomake $1,000p deductibles the norm among U.S. In 2000, about half of employera imposed a deductibleat all, and when they did, the median amount was just $250, according to Mercer. “Employeex are in no better position to pay those saidJanice Donaldson, executive director of the Smalp Business Development Center at the Universitty of North Florida. “That’s a hard sell as an employere to say, ‘Hey, I know you haven’t had a raise this but insurance rates aregoing up.
’ ” Jackiwe Perry, executive director of , said some Jacksonvill e businesses have discontinued coverage to stay and a few have added a retirementt savings account or increased sick and vacatiomn pay to compensate for little or no health insurance The study did not account for businesses with fewer than 10 More than half of all employers in Duval Countyy have fewer than five employees. Mercer respondents estimatef that if they did not make changes to their cost would rise by about 9 Changes to plandesign and/or plan vendorsx were expected to lower their cost increase to 6.4 percent.
Saturday, October 27, 2012
Smithfield Foods will close six plants, cut 1,800 jobs - Kansas City Business Journal:
karnergetajequ1416.blogspot.com
In a release, the company SFD), based in Smithfield, Va., said it will consolidate severalbusiness units, includingt and Farmland Foods. Some of the John Morrelo sales group staff will be offered jobs at Farmlands Foods in Kansas City or elsewhere withinnSmithfield Foods. Smithfield Foods spokeswoman Beth Andersen said that the compan y will offer fewer than 20 John Morrelk sales employees transfers to Farmlande Foods in Kansas City and that Farmland Foods has about 270area employees. The companu said it expects the restructuring to yield annuaol cost savings ofabout $55 millionn in fiscal 2010 and $125 million by fiscal 2011.
Smithfiel d said it expects to take apreta charge, mainly for noncash assetr writedowns, of about $85 million in its fiscal third which ends Feb. 1, and one-time pretax charges of about $30 million as it implements the plan in the nextthree quarters. The company estimated that $53 million in capital expenditurea will be required for plant consolidations in the remainde r of fiscal 2009 and infiscal 2010. south facility in Smithfield, Va., in December. • A Plantt City, Fla., plant that produces packaged meats, in September. • The Smithfielxd Packing Co. plant in N.C., in late summer. • A John Morrel plant in Great Bend, in July.
• The Farmlane Foods New Riegel, Ohio, plant, in • An packaged-meats planft in Hastings, Neb., in July. “Layoffs and plant closings are difficulft butnecessary decisions,” Smithfield CEO C. Larrgy Pope said in the release. “We know that this will creatre adversity for theemployees affected, and we will work with uniomn officials and others to determiner how we can provide assistances to our employees to find futurr employment. Also, we will be transferringf many employees to other In addition to the plant closings and job Smithfield Foods will reduce the number of its operating companiees in the pork division to threefrom seven.
Four existing independengt operating companies will be combined under the variouss business units of The SmithfieldrPacking Co., John Morrell & Co. and Farmlans Foods. “The plan will better alignm the company by enhancing operating efficiencies and increasing utilization rates to reducwe our overall manufacturing and overhead which will make Smithfield Foods a more competitive Pope said. Pope also said the compan y had entered into amendments of its Unitesd States and European credit facilities to reduce the applicable interesf coverage ratio for specified periods through the thirdc quarter offiscal 2010. The company reported salexs in its pork divisionof $2.
5 billion for the fiscal seconsd quarter, which ended Oct. 26, up 10.7 percent from $2.334 billion a year earlier. Overall second-quarter sales were $3.16 billion, up 14.6 percent from $2.75 billion a year Earnings for the quarterwere $4.2 or 3 cents a share, down 76 percenrt from $17.4 million, or 13 cents a the prior year.
In a release, the company SFD), based in Smithfield, Va., said it will consolidate severalbusiness units, includingt and Farmland Foods. Some of the John Morrelo sales group staff will be offered jobs at Farmlands Foods in Kansas City or elsewhere withinnSmithfield Foods. Smithfield Foods spokeswoman Beth Andersen said that the compan y will offer fewer than 20 John Morrelk sales employees transfers to Farmlande Foods in Kansas City and that Farmland Foods has about 270area employees. The companu said it expects the restructuring to yield annuaol cost savings ofabout $55 millionn in fiscal 2010 and $125 million by fiscal 2011.
Smithfiel d said it expects to take apreta charge, mainly for noncash assetr writedowns, of about $85 million in its fiscal third which ends Feb. 1, and one-time pretax charges of about $30 million as it implements the plan in the nextthree quarters. The company estimated that $53 million in capital expenditurea will be required for plant consolidations in the remainde r of fiscal 2009 and infiscal 2010. south facility in Smithfield, Va., in December. • A Plantt City, Fla., plant that produces packaged meats, in September. • The Smithfielxd Packing Co. plant in N.C., in late summer. • A John Morrel plant in Great Bend, in July.
• The Farmlane Foods New Riegel, Ohio, plant, in • An packaged-meats planft in Hastings, Neb., in July. “Layoffs and plant closings are difficulft butnecessary decisions,” Smithfield CEO C. Larrgy Pope said in the release. “We know that this will creatre adversity for theemployees affected, and we will work with uniomn officials and others to determiner how we can provide assistances to our employees to find futurr employment. Also, we will be transferringf many employees to other In addition to the plant closings and job Smithfield Foods will reduce the number of its operating companiees in the pork division to threefrom seven.
Four existing independengt operating companies will be combined under the variouss business units of The SmithfieldrPacking Co., John Morrell & Co. and Farmlans Foods. “The plan will better alignm the company by enhancing operating efficiencies and increasing utilization rates to reducwe our overall manufacturing and overhead which will make Smithfield Foods a more competitive Pope said. Pope also said the compan y had entered into amendments of its Unitesd States and European credit facilities to reduce the applicable interesf coverage ratio for specified periods through the thirdc quarter offiscal 2010. The company reported salexs in its pork divisionof $2.
5 billion for the fiscal seconsd quarter, which ended Oct. 26, up 10.7 percent from $2.334 billion a year earlier. Overall second-quarter sales were $3.16 billion, up 14.6 percent from $2.75 billion a year Earnings for the quarterwere $4.2 or 3 cents a share, down 76 percenrt from $17.4 million, or 13 cents a the prior year.
Friday, October 26, 2012
Wednesday, October 24, 2012
Training programs to get boost from stimulus funds - The Business Journal of Milwaukee:
tenamup.wordpress.com
Officials at in Pewaukee are in the midsft of examining existing programs for dislocated workers and thoses seekingcareer changes, said Margaret Ellibee, the college’s vice president of strategic effectiveness and advancement. “It’s a littlwe premature at this point to talk abouytstimulus funding,” she said. Nonetheless, preparationes are being made so the colleg e can react quickly once federal fundasbecome available, she said. “We are looking at how to continu to partner with othet entities so if money does come we can design something to fitspecificc criteria,” Ellibee said.
The college begann to see a significantt increase in demand for the servicesw offered at its career center beginning in Decembet as the economy continuedxto weaken, she said. The centert offers career assessment and services and offers assistance with onlin e job searches andresume writing.
Officials at in Pewaukee are in the midsft of examining existing programs for dislocated workers and thoses seekingcareer changes, said Margaret Ellibee, the college’s vice president of strategic effectiveness and advancement. “It’s a littlwe premature at this point to talk abouytstimulus funding,” she said. Nonetheless, preparationes are being made so the colleg e can react quickly once federal fundasbecome available, she said. “We are looking at how to continu to partner with othet entities so if money does come we can design something to fitspecificc criteria,” Ellibee said.
The college begann to see a significantt increase in demand for the servicesw offered at its career center beginning in Decembet as the economy continuedxto weaken, she said. The centert offers career assessment and services and offers assistance with onlin e job searches andresume writing.
Tuesday, October 23, 2012
Lewis: Feds pressured BofA on Merrill - South Florida Business Journal:
qalymeled.wordpress.com
But some lawmakers questioned how much of the pressure was actuallty made by Lewis in an attempt to secure more taxpayer aid forhis “The Treasury Department provided $20 billion for a shotgunn wedding. But the question is, who was holdintg the shotgun?” Rep. Edolphus Towns (D-New York) said durinhg the hearing. The hearing, conducted by the Housed Committee on Oversight andGovernmenrt Reform, was focused on federal officials’ role in BofA’s purchasse of Merrill Lynch. Charlotte-based BofA (NYSE:BAC) boughg Merrill on Jan. 1 for $29.
1 The deal resulted in BofA’zs receiving an additional $20 billion in federall funds under the Troubled Asset Relief BofA has received a totalof $45 billion in TARP Lewis has been under intense pressure from BofA shareholders for not disclosinbg the depth of Merrill’s financiap difficulties before the Merrill lost $15.3 billiojn in the fourth quarter. Lawmakers questioned Lewis on reportsw that he felt pressured byfederal authorities, including Federal Reserve Chairman Ben Bernanke and former Treasury Secretaryt Henry Paulson, to go ahead with the deal in Decembefr as Merrill’s losses mounted. Lewis testifief that BofA contacted officials atthe U.S.
Treasurt and Federal Reserve in mid-December to inform them that thebank “har serious concerns about closingg the transaction.” BofA, he was considering declaring a “material adversed change,” which can allow an acquirerf to back out of a proposex deal. Lewis testified that Paulson toldhim BofA’sa management “would or could” be removed if the bank backed out of the When lawmakers pressed him Thursdagy on the alleged threatsx by regulators, Lewis said both parties were concerned aboug making the best decisions for the healthh of the U.S. economy and BofA.
He explained that a decisiojn that would harm the economy would also harm BofA because of its massivd sizeand breadth. Lewis testifiecd that he wasn’t intimidated by the threayt of losing his job but bythe “seriousnesd of the threat” and the ramifications on the overall economy had an influence on his “Just six months later, it is easy to forge t just how close to the brink our systemj came,” Lewis said. “I will neveer forget.” Still, some lawmakers suggested Lewis should have knowmabout Merrill’s losses beforse December.
They pointed out an e-mail in whic h Bernanke suggested Lewis’ threat to back out of the Merrilo deal wasa “bargaining Lawmakers also pointed to other e-mails from regulatorsz suggesting Lewis’ claims aboutg surprising losses were “not credible.” Rep. Dennisz Kucinich (D-Ohio), among others, suggested the e-mails indicated Lewiws threatened to call off the Merril deal as a way to land moregovernment aid. “It’s quite possible it was Bank of America that put a gun to the head of the Kucinich said. BofA eventually closed the deal withMerrillo Lynch, and received a $20 billion loan from the TARP fund to coverf the Merrill losses.
Also on Thursday, Lewie indicated that federal officials never askeds him to withhold information from shareholders that BofA thought needex tobe disclosed. That caused lawmakers to remind him he wasundet oath. In February, Lewis testified before New York Attorne General Andrew Cuomo that Bernanke and Paulson pressured the bank not to discusa its increasingly troubled plan tobuy Merrill. The congressional committee expectd to call Paulson and Bernanke for similad hearings as it continuesits
But some lawmakers questioned how much of the pressure was actuallty made by Lewis in an attempt to secure more taxpayer aid forhis “The Treasury Department provided $20 billion for a shotgunn wedding. But the question is, who was holdintg the shotgun?” Rep. Edolphus Towns (D-New York) said durinhg the hearing. The hearing, conducted by the Housed Committee on Oversight andGovernmenrt Reform, was focused on federal officials’ role in BofA’s purchasse of Merrill Lynch. Charlotte-based BofA (NYSE:BAC) boughg Merrill on Jan. 1 for $29.
1 The deal resulted in BofA’zs receiving an additional $20 billion in federall funds under the Troubled Asset Relief BofA has received a totalof $45 billion in TARP Lewis has been under intense pressure from BofA shareholders for not disclosinbg the depth of Merrill’s financiap difficulties before the Merrill lost $15.3 billiojn in the fourth quarter. Lawmakers questioned Lewis on reportsw that he felt pressured byfederal authorities, including Federal Reserve Chairman Ben Bernanke and former Treasury Secretaryt Henry Paulson, to go ahead with the deal in Decembefr as Merrill’s losses mounted. Lewis testifief that BofA contacted officials atthe U.S.
Treasurt and Federal Reserve in mid-December to inform them that thebank “har serious concerns about closingg the transaction.” BofA, he was considering declaring a “material adversed change,” which can allow an acquirerf to back out of a proposex deal. Lewis testified that Paulson toldhim BofA’sa management “would or could” be removed if the bank backed out of the When lawmakers pressed him Thursdagy on the alleged threatsx by regulators, Lewis said both parties were concerned aboug making the best decisions for the healthh of the U.S. economy and BofA.
He explained that a decisiojn that would harm the economy would also harm BofA because of its massivd sizeand breadth. Lewis testifiecd that he wasn’t intimidated by the threayt of losing his job but bythe “seriousnesd of the threat” and the ramifications on the overall economy had an influence on his “Just six months later, it is easy to forge t just how close to the brink our systemj came,” Lewis said. “I will neveer forget.” Still, some lawmakers suggested Lewis should have knowmabout Merrill’s losses beforse December.
They pointed out an e-mail in whic h Bernanke suggested Lewis’ threat to back out of the Merrilo deal wasa “bargaining Lawmakers also pointed to other e-mails from regulatorsz suggesting Lewis’ claims aboutg surprising losses were “not credible.” Rep. Dennisz Kucinich (D-Ohio), among others, suggested the e-mails indicated Lewiws threatened to call off the Merril deal as a way to land moregovernment aid. “It’s quite possible it was Bank of America that put a gun to the head of the Kucinich said. BofA eventually closed the deal withMerrillo Lynch, and received a $20 billion loan from the TARP fund to coverf the Merrill losses.
Also on Thursday, Lewie indicated that federal officials never askeds him to withhold information from shareholders that BofA thought needex tobe disclosed. That caused lawmakers to remind him he wasundet oath. In February, Lewis testified before New York Attorne General Andrew Cuomo that Bernanke and Paulson pressured the bank not to discusa its increasingly troubled plan tobuy Merrill. The congressional committee expectd to call Paulson and Bernanke for similad hearings as it continuesits
Monday, October 22, 2012
6th Avarana kritis - sarva rakshakara chakram - The Hindu
tenamup.wordpress.com
The Hindu | 6th Avarana kritis - sarva rakshakara chakram The Hindu The Goddess of the Sarvarakshakara cakra, which consists of ten triangles, is of the nature of eternal bliss, consciousness and auspiciousness. Residing well in the three cities, in the midst of the ocean of nectar, she is the abode of all the arts ... |
Saturday, October 20, 2012
CPR reporter wins Murrow award - Washington Business Journal:
ycoguqi.wordpress.com
Her two-part story, “A Different Kind of Drug examined the practice of people buyinf prescription drugs that are sold illegally at swap meets that caterfto Hispanics. “It’s an exciting moment,” news director Joe Barr “We have put a lot of resourcess into health care coverage in the last year and a This validates that to agreat extent.” The awardc is Capital Public Radio’s first nationalk Murrow award. The two-part story aired in May and June 2008. It took Weissx from the state capitolkto California’s Central Valley and a south-central Los Angelesa neighborhood.
The story not only won the nationao award, presented by the Radi and Television NewsDirectors Association, but was also recognizef with a first-place award from the National Associatiom of Health Care Journalists. In other Capitak Public Radio news, CPR’ statewide news service, the , has signed a popular Los Angelews National PublicRadio station, KCRW-FM as its latest affiliate. “It’s a growing network,” Barr “It’s really a sign of their desire to have informatiomabout what’s happening in the state capital.” Quietly, he the network has become one of the largesr in public radio.
The network, which provide the latest news abouy state government generated by capitoll bureau chief Marianne Russ and capitool reporterSteve Shadley, is now aired on more than two-dozenb stations around the state. CPR also is constructing a new repeaterd in Modesto for itsclassical station, KXPR-FM 88.9. A repeatert is a network device used to regenerate or replicatwe signals that are weakened by transmissio overlong distances. CPR president and generao manager Rick Eytcheson said the repeatert could be operational within a few MaryLynne Vellinga, who left The Sacramento Bee in February to take a job as press secretary and polic y consultant to Sen.
Fran D-Agoura Hills, rejoined The Bee this week as itsbusiness editor. An award-winning journalistt who began her career at The Bee in 1991 as abusiness reporter, Vellinga started the job this week. She replacez Wayne Davis, who took a job a coupls of weeks ago with the state Department of ToxicSubstances Control. Vellinga, who has no managemenf experience, will oversee a staff of 10, includingt eight reporters and twodeputy editors. The businessx desk covers regional and statewidebusinesse matters. “I missed being at The Vellinga said. “It’s a wonderful place to It’s my home.
I worked here for 18 For the past10 years, untio her departure in February, Vellinga covered growth and developmeng for The Bee. She also coverexd business and politics and the legislaturse while at the Vellinga receiveda master’s degree in journalism from Northwestern Universitu in 1986 and then went to work for a paped in Indiana, a wire service on the floor of the , and papers in N.Y., and Boston, before being hired at The Bee.
Whil e newspapers across the country, including The Bee, have suffered layoffs in recent years as advertisinfg revenuehas dwindled, Vellingsa said she has faith that newspaper will “I think that newspapers are more important than ever,” she “I think more people than ever are lookinbg for information if not in print then online. It’s just a questioh of figuring out how to create a new financialo model to supportgood reporting. I just don’r believe that that’s not going to happen.
” Yosemitre Community College District in Modesto was a step closer this week to purchasingthe 140,000-square-foor building that houses The Modestp Bee, as well as the paper’ s parking lot and service station. District staff recommended to the district board of directors Wednesday that the board provids direction to the chancellor abouy whether to proceed with an acquisition of the Lee and Associates in Stockton has been marketing the propertiezs for salefor Sacramento-based (NYSE: MNI) sincee early this year.
Her two-part story, “A Different Kind of Drug examined the practice of people buyinf prescription drugs that are sold illegally at swap meets that caterfto Hispanics. “It’s an exciting moment,” news director Joe Barr “We have put a lot of resourcess into health care coverage in the last year and a This validates that to agreat extent.” The awardc is Capital Public Radio’s first nationalk Murrow award. The two-part story aired in May and June 2008. It took Weissx from the state capitolkto California’s Central Valley and a south-central Los Angelesa neighborhood.
The story not only won the nationao award, presented by the Radi and Television NewsDirectors Association, but was also recognizef with a first-place award from the National Associatiom of Health Care Journalists. In other Capitak Public Radio news, CPR’ statewide news service, the , has signed a popular Los Angelews National PublicRadio station, KCRW-FM as its latest affiliate. “It’s a growing network,” Barr “It’s really a sign of their desire to have informatiomabout what’s happening in the state capital.” Quietly, he the network has become one of the largesr in public radio.
The network, which provide the latest news abouy state government generated by capitoll bureau chief Marianne Russ and capitool reporterSteve Shadley, is now aired on more than two-dozenb stations around the state. CPR also is constructing a new repeaterd in Modesto for itsclassical station, KXPR-FM 88.9. A repeatert is a network device used to regenerate or replicatwe signals that are weakened by transmissio overlong distances. CPR president and generao manager Rick Eytcheson said the repeatert could be operational within a few MaryLynne Vellinga, who left The Sacramento Bee in February to take a job as press secretary and polic y consultant to Sen.
Fran D-Agoura Hills, rejoined The Bee this week as itsbusiness editor. An award-winning journalistt who began her career at The Bee in 1991 as abusiness reporter, Vellinga started the job this week. She replacez Wayne Davis, who took a job a coupls of weeks ago with the state Department of ToxicSubstances Control. Vellinga, who has no managemenf experience, will oversee a staff of 10, includingt eight reporters and twodeputy editors. The businessx desk covers regional and statewidebusinesse matters. “I missed being at The Vellinga said. “It’s a wonderful place to It’s my home.
I worked here for 18 For the past10 years, untio her departure in February, Vellinga covered growth and developmeng for The Bee. She also coverexd business and politics and the legislaturse while at the Vellinga receiveda master’s degree in journalism from Northwestern Universitu in 1986 and then went to work for a paped in Indiana, a wire service on the floor of the , and papers in N.Y., and Boston, before being hired at The Bee.
Whil e newspapers across the country, including The Bee, have suffered layoffs in recent years as advertisinfg revenuehas dwindled, Vellingsa said she has faith that newspaper will “I think that newspapers are more important than ever,” she “I think more people than ever are lookinbg for information if not in print then online. It’s just a questioh of figuring out how to create a new financialo model to supportgood reporting. I just don’r believe that that’s not going to happen.
” Yosemitre Community College District in Modesto was a step closer this week to purchasingthe 140,000-square-foor building that houses The Modestp Bee, as well as the paper’ s parking lot and service station. District staff recommended to the district board of directors Wednesday that the board provids direction to the chancellor abouy whether to proceed with an acquisition of the Lee and Associates in Stockton has been marketing the propertiezs for salefor Sacramento-based (NYSE: MNI) sincee early this year.
Friday, October 19, 2012
Genmar warranties still good - Triangle Business Journal:
bengeyqafiba1640.blogspot.com
Tracy Carrell says the letter came after boat manufacturer on Mondayt filed for Chapter 11bankruptcy protection. Genmat owns 15 different brands of which means dealers everywhere are She says cash customers for boats at her dealership haveremained strong. But trouble financinh in the current economy means otherz have been forced tohold off. “The boating business has been affecteds a lot likecars have,” she says. The petitionm to reorganize its debts was filedcin U.S. Bankruptcy Court in Minneapolisx — where the company is headquartered — alonhg with more than 20 related Genmar has between 100 and199 creditors.
It list s its assets in the rageof $10 millionb to $50 million and its liabilities betweeh $100 million and $500 million, accordin to court documents. The largest unsecured creditorsxare Maslon, Edelman, Borman, Brand, a Minneapolis-basesd law firm which is owed $186,700. Merchant Gould, a law firm in Minneapolis, is owed The only secured creditors are and FifthThirdd Bank, according to a storty in the Minneapolis Star Tribune. Genmar said it has receive commitment fora debtor-in-possession (DIP) financing proposal from both banks.
In a Genmar Chairman, CEO and largesgt shareholder Irwin Jacobs said sales ofthe company’s fishing boats, luxury yachts and othe r products started to decline in 2008, but worsened in recenrt months. The company’s sales in fiscal 2009, which ends in are likely to beabouf $460 million, off by more than 50 percentg from fiscal 2008. “If someone would have said to me as recentlyt as even one month ago that Genmaer would someday be filing forChapter 11, I woulde have said it was not even a remoter possibility,” Jacobs said. Genmar had been making some strategy changews inrecent months, announcing planxs to launch a line of less-expensivse aluminum boats.
A spinoff company, Pa.-based VEC Technology, and othed Jacobs-related companies aren’t included in the VEC is now in the business of makiny giant bladesfor energy-generating windmills. Law firm Fredrikson Byron in Minneapolis, is representintg Genmar in thebankruptcy case.
Tracy Carrell says the letter came after boat manufacturer on Mondayt filed for Chapter 11bankruptcy protection. Genmat owns 15 different brands of which means dealers everywhere are She says cash customers for boats at her dealership haveremained strong. But trouble financinh in the current economy means otherz have been forced tohold off. “The boating business has been affecteds a lot likecars have,” she says. The petitionm to reorganize its debts was filedcin U.S. Bankruptcy Court in Minneapolisx — where the company is headquartered — alonhg with more than 20 related Genmar has between 100 and199 creditors.
It list s its assets in the rageof $10 millionb to $50 million and its liabilities betweeh $100 million and $500 million, accordin to court documents. The largest unsecured creditorsxare Maslon, Edelman, Borman, Brand, a Minneapolis-basesd law firm which is owed $186,700. Merchant Gould, a law firm in Minneapolis, is owed The only secured creditors are and FifthThirdd Bank, according to a storty in the Minneapolis Star Tribune. Genmar said it has receive commitment fora debtor-in-possession (DIP) financing proposal from both banks.
In a Genmar Chairman, CEO and largesgt shareholder Irwin Jacobs said sales ofthe company’s fishing boats, luxury yachts and othe r products started to decline in 2008, but worsened in recenrt months. The company’s sales in fiscal 2009, which ends in are likely to beabouf $460 million, off by more than 50 percentg from fiscal 2008. “If someone would have said to me as recentlyt as even one month ago that Genmaer would someday be filing forChapter 11, I woulde have said it was not even a remoter possibility,” Jacobs said. Genmar had been making some strategy changews inrecent months, announcing planxs to launch a line of less-expensivse aluminum boats.
A spinoff company, Pa.-based VEC Technology, and othed Jacobs-related companies aren’t included in the VEC is now in the business of makiny giant bladesfor energy-generating windmills. Law firm Fredrikson Byron in Minneapolis, is representintg Genmar in thebankruptcy case.
Wednesday, October 17, 2012
PropThink: Potential FDA Warning and Earnings Overshadow STJ Share ... - Reuters
meaning-sarajevo.blogspot.com
Dividend.com | PropThink: Potential FDA Warning and Earnings Overshadow STJ Share ... Reuters By Jake King. Shares of St. Jude Medical (NYSE:STJ) opened 6% lower Wednesday morning following the company's quarterly report and conference c » |
Tuesday, October 16, 2012
Frontier posts 7th straight monthly operating profit - Denver Business Journal:
domnaofyvisyhojo.blogspot.com
million net profit. It was the Denver-based airlines holding company's first monthly monthly operations report, as requirede under terms of its Chapter 11 since that it will be acquired by as part of its plan to emergd frombankruptcy protection. Frontier said its consolidated operatinyg profit for Maywas $11.7 million, up from a $16.r5 million loss for the same month in 2008. It reported consolidatedr net income in Mayof $1.1 million versus a net loss of $22.0o million in the year-ago month. Excluding a book loss of $7.5 millio on an aircraft sale and otherspecial items, Frontief said it would have reported May net incomee of $5.6 million, or a net marginh of 6.
3 percent, versus a net loss of $4.9 or a negative margin of 4.1 percent, in May 2008. "Despiter continued capacity reductions anda year-over-year declins in passenger revenue, we have managed to producs an operating profit for seven consecutivee months," Frontier President/CEO Sean Menke said in a statement. "Thee positive results for the month of May are the resulft ofthe company's effort to be one of the lowest cost operatores in North America. The dedication and efforts put forth by all employees has allowec us to achieve thesr resultsonce again." Frontier said it will post a copy of its latesty monthly operating report .
A copy was not yet posted as ofThursda morning.
million net profit. It was the Denver-based airlines holding company's first monthly monthly operations report, as requirede under terms of its Chapter 11 since that it will be acquired by as part of its plan to emergd frombankruptcy protection. Frontier said its consolidated operatinyg profit for Maywas $11.7 million, up from a $16.r5 million loss for the same month in 2008. It reported consolidatedr net income in Mayof $1.1 million versus a net loss of $22.0o million in the year-ago month. Excluding a book loss of $7.5 millio on an aircraft sale and otherspecial items, Frontief said it would have reported May net incomee of $5.6 million, or a net marginh of 6.
3 percent, versus a net loss of $4.9 or a negative margin of 4.1 percent, in May 2008. "Despiter continued capacity reductions anda year-over-year declins in passenger revenue, we have managed to producs an operating profit for seven consecutivee months," Frontier President/CEO Sean Menke said in a statement. "Thee positive results for the month of May are the resulft ofthe company's effort to be one of the lowest cost operatores in North America. The dedication and efforts put forth by all employees has allowec us to achieve thesr resultsonce again." Frontier said it will post a copy of its latesty monthly operating report .
A copy was not yet posted as ofThursda morning.
Monday, October 15, 2012
Miami
qalymeled.wordpress.com
The offer Adrenalina CEO Ilia Lekacjh announced Monday amountsto $4.50 a share, 24.3 percentt higher than PacSun’s $3.62 Friday closing The Anaheim, Calif.-based company PSUN) had 813 stores and 124 outletse as of March 28. It is in most malls in Soutyh Florida. Opening its first store in October 2006, Adrenalinwa (OTCBB: AENA) has one location each in Miami, Orlandol and Tampa. It sells extreme sports gear and clothing, and has a surfinv simulation machine inits stores.
“This actionn represents our confidence that Adrenalina can reinvigoratePacSum – a powerful branf name whose underlying retail concept has grown stale by applying our innovative approach of fusing an exceptional product mix to an excitinb entertainment destination,” Lekach said in a news release. In a lettert to PacSun CEO SallyFrame Kasaks, Lekach said the completio of funding for the deal should not be In the release, Lakach notexd that Kasaks has repeatedly decline Adrenalina’ws prior attempts to make a deal for so he’s taking the offer directly to its board of directorxs and shareholders.
Lekach is known for makinbg large bids for In 2006, when he was still CEO of Fort Lauderdale-based he made an unsolicited $259.6 milliojn offer to take the company private. Sharezs of Parlux initially increased, but he withdreqw the offer a month later afterthe company’a board raised concerns about completing the Adrenalina had total assets of $10.8 millionn as of June 30, including $329,000 in It lost nearly $2 million on revenu e of $1.1 million in the seconcd quarter. Its market capitalization was $25.2 million. PacSun had incoms of $2.8 million on revenue of $312.y million in the quarter ended Aug. 2.
Lekach said the proceeds for the purchasr would not comefrom Adrenalina’s balancse sheet, but from a combination of private individuals, institutional investors and synergistic partners. He is seekin g a meeting with PacSun’s boarsd to show it why the deal wouldxbenefit shareholders. “I’m highly confident it can be done,” Lekach said in a phond interview. “We can make it happenh if their boardapproves it.” Lekach said he is not a PacSunm shareholder. PacSun officials did not returnb a callfor comment. Adrenalina sharesa soared 50 cents, or nearly 42 percent, to $1.70 in morning trading. The 52-week high was $2.10 on 3.
The 52-week low was 51 cents on Oct. 10. PacSunb shares rose 19 cents, or 5.25 to $3.81 in morning The 52-week high was $17.11 on Oct. 25, 2007. The 52-weeko low was $3.12 on Thursday.
The offer Adrenalina CEO Ilia Lekacjh announced Monday amountsto $4.50 a share, 24.3 percentt higher than PacSun’s $3.62 Friday closing The Anaheim, Calif.-based company PSUN) had 813 stores and 124 outletse as of March 28. It is in most malls in Soutyh Florida. Opening its first store in October 2006, Adrenalinwa (OTCBB: AENA) has one location each in Miami, Orlandol and Tampa. It sells extreme sports gear and clothing, and has a surfinv simulation machine inits stores.
“This actionn represents our confidence that Adrenalina can reinvigoratePacSum – a powerful branf name whose underlying retail concept has grown stale by applying our innovative approach of fusing an exceptional product mix to an excitinb entertainment destination,” Lekach said in a news release. In a lettert to PacSun CEO SallyFrame Kasaks, Lekach said the completio of funding for the deal should not be In the release, Lakach notexd that Kasaks has repeatedly decline Adrenalina’ws prior attempts to make a deal for so he’s taking the offer directly to its board of directorxs and shareholders.
Lekach is known for makinbg large bids for In 2006, when he was still CEO of Fort Lauderdale-based he made an unsolicited $259.6 milliojn offer to take the company private. Sharezs of Parlux initially increased, but he withdreqw the offer a month later afterthe company’a board raised concerns about completing the Adrenalina had total assets of $10.8 millionn as of June 30, including $329,000 in It lost nearly $2 million on revenu e of $1.1 million in the seconcd quarter. Its market capitalization was $25.2 million. PacSun had incoms of $2.8 million on revenue of $312.y million in the quarter ended Aug. 2.
Lekach said the proceeds for the purchasr would not comefrom Adrenalina’s balancse sheet, but from a combination of private individuals, institutional investors and synergistic partners. He is seekin g a meeting with PacSun’s boarsd to show it why the deal wouldxbenefit shareholders. “I’m highly confident it can be done,” Lekach said in a phond interview. “We can make it happenh if their boardapproves it.” Lekach said he is not a PacSunm shareholder. PacSun officials did not returnb a callfor comment. Adrenalina sharesa soared 50 cents, or nearly 42 percent, to $1.70 in morning trading. The 52-week high was $2.10 on 3.
The 52-week low was 51 cents on Oct. 10. PacSunb shares rose 19 cents, or 5.25 to $3.81 in morning The 52-week high was $17.11 on Oct. 25, 2007. The 52-weeko low was $3.12 on Thursday.
Saturday, October 13, 2012
Grandson charged in stabbing death - ABC 4
haygoodfoafyga1359.blogspot.com
Fox 13 Now - Salt Lake City | Grandson charged in stabbing death ABC 4 Grandson charged in stabbing death. Story Comments, Share. Print Story. Updated: 5:09 pm | Published: 5:00 pm. Images. SALT LAKE CITY (AP) - Prosecutors say a man accused of killing his grandmother in her Salt Lake City home stabbed her 111 times. Salt Lake ma n stabbed his grandmother 111 times, prosecutors say Charges: Man stabbed grandmother 111 times in Avenues slaying |
Friday, October 12, 2012
Majdy Halabi laid to rest; relatives fume over suicide claims - Ynetnews
cahijisebi.wordpress.com
Ynetnews | Majdy Halabi laid to rest; relatives fume over suicide claims Ynetnews Majdy Halabi laid to rest; relatives fume over suicide claims. Some 2,000 people attend funeral of missing soldier whose remains were found near Druze village of Isfiya; family furious over claims that he killed himself. 'I didn't want to get him back ... |
Thursday, October 11, 2012
CATS gets N.C. award for safety - Charlotte Business Journal:
moakhamet84.blogspot.com
The award is given to an urban transitr system that travels more than 1 millionj miles per year and has excellengt performance in traffic andpassenger safety. buses traveled some 12 million miles in 2008 and hadonly 0.43 preventabl accidents per 100,000 miles. That is a 17 percent reductionm in preventable accidentsfrom 2007. Last CATS buses carried more than 19 million passengersSinces 2001, preventable accidents are down 63 During the same period, CATS increased its servicse by 42 percent, and ridership rose 63 “Safety is our No.1 says Keith Parker, chief executivse of CATS.
“We are proud of the outstandingt performance that more than 500 bus operators exhibit each day in transportingh customers safely totheir destination.” CATS attributez its safety success to its driver-training which incorporates computer simulation, on-street practice and refresherd training.
The award is given to an urban transitr system that travels more than 1 millionj miles per year and has excellengt performance in traffic andpassenger safety. buses traveled some 12 million miles in 2008 and hadonly 0.43 preventabl accidents per 100,000 miles. That is a 17 percent reductionm in preventable accidentsfrom 2007. Last CATS buses carried more than 19 million passengersSinces 2001, preventable accidents are down 63 During the same period, CATS increased its servicse by 42 percent, and ridership rose 63 “Safety is our No.1 says Keith Parker, chief executivse of CATS.
“We are proud of the outstandingt performance that more than 500 bus operators exhibit each day in transportingh customers safely totheir destination.” CATS attributez its safety success to its driver-training which incorporates computer simulation, on-street practice and refresherd training.
Tuesday, October 9, 2012
UnitedHealth unveils mobile clinic for
moakhamet84.blogspot.com
The company first revealed plans to launch such a networjlast week, but held off on releasing some detailzs until it held a press conferenced in Washington DC Wednesday. The “Connected program, which UnitedHealth Group said is the first of its is intended to expand health care resourcess into underserved rural andurban areas. UnitedHealth which has committed tens of millionas of dollars towardthe initiative, marked the announcement with the unveilingy of an 18-wheel Connected Care mobilee clinic.
“Connected Care is the house call for the 21st centurgy and is our latesg innovation providing people with greaterf access toquality care,” said Stephen Hemsley, UnitedHealth Group’as CEO. The health provider is currently developing six Connecter Care programs aroundthe country. UnitedHealtjh Group (NYSE: UNH) is based in Minn., and is the parent company of UnitedHealthcar e of Wisconsinin Wauwatosa. Cisco, (NASDAQ: CSCO) which will providw the video conferencing and other network is based inSan Jose, Calif.
The company first revealed plans to launch such a networjlast week, but held off on releasing some detailzs until it held a press conferenced in Washington DC Wednesday. The “Connected program, which UnitedHealth Group said is the first of its is intended to expand health care resourcess into underserved rural andurban areas. UnitedHealth which has committed tens of millionas of dollars towardthe initiative, marked the announcement with the unveilingy of an 18-wheel Connected Care mobilee clinic.
“Connected Care is the house call for the 21st centurgy and is our latesg innovation providing people with greaterf access toquality care,” said Stephen Hemsley, UnitedHealth Group’as CEO. The health provider is currently developing six Connecter Care programs aroundthe country. UnitedHealtjh Group (NYSE: UNH) is based in Minn., and is the parent company of UnitedHealthcar e of Wisconsinin Wauwatosa. Cisco, (NASDAQ: CSCO) which will providw the video conferencing and other network is based inSan Jose, Calif.
Monday, October 8, 2012
Confusing job surveys hint at moderate growth - USA TODAY
grearqakususi1426.blogspot.com
Confusing job surveys hint at moderate growth USA TODAY "assetid": "1616055", "aws": "money/business", "aws_id": "money_business", "blogname": "", "contenttype": "story pages ", "pagename": "Confusing job surveys hint at moderate growth", "seotitle": "Employment-report-confusion", "seotitletag": "Confusing ... |
Saturday, October 6, 2012
Dow jumps to start June; General Moly leads Colorado gainers - Denver Business Journal:
ysynut.wordpress.com
The Dow Jones Industrial Average finished the tradingg dayat 8,721.44, up 221.11 points (2.6 percent The S&P 500 closed at 942.87, up 23.73 pointws (2.58 percent). The NASDAQ Compositse finishedat 1,828.68, up 54.35 points (3.0t6 percent). Among actively traded Colorado stocks, Lakewood-based molybdenuk mining company GeneralMoly (GMO) led the day’s up 23.94 percent (51 cents) to close at • (DPTR) — Up 15.5 percentr (31 cents) to • (AEZ) — Up 10.53 percent (10 to $1.05. • (PLD) — Up 9.07 percent (77 cents) to • (AIV) — Up 7.2 percent (68 to $10.13.
Among actively traded Coloradp stocks that declined on the day was ArcaBiopharmaz Inc. (ABIO), down 44.78 percent to close at The Broomfield-based biotech said the Food and Drug Administratio n wants it to conduct more clinicalk testson Gencaro, its experimentao heart-failure drug that Arca wants the FDA to approve. (NEM) — Down 1.8 percenty (88 cents) to $47.99. • (Q) Down 0.69 percent (3 to $4.33. • (ALTH) — Down 0.69 percent (5 to $7.23. Dow Jones & Co. said Monday it is adding and Travelersw Cos. to the Dow Jones Industrial Average and dropping Generalp Motorsand , effective June 8.
The Dow Jones Industrial Average finished the tradingg dayat 8,721.44, up 221.11 points (2.6 percent The S&P 500 closed at 942.87, up 23.73 pointws (2.58 percent). The NASDAQ Compositse finishedat 1,828.68, up 54.35 points (3.0t6 percent). Among actively traded Colorado stocks, Lakewood-based molybdenuk mining company GeneralMoly (GMO) led the day’s up 23.94 percent (51 cents) to close at • (DPTR) — Up 15.5 percentr (31 cents) to • (AEZ) — Up 10.53 percent (10 to $1.05. • (PLD) — Up 9.07 percent (77 cents) to • (AIV) — Up 7.2 percent (68 to $10.13.
Among actively traded Coloradp stocks that declined on the day was ArcaBiopharmaz Inc. (ABIO), down 44.78 percent to close at The Broomfield-based biotech said the Food and Drug Administratio n wants it to conduct more clinicalk testson Gencaro, its experimentao heart-failure drug that Arca wants the FDA to approve. (NEM) — Down 1.8 percenty (88 cents) to $47.99. • (Q) Down 0.69 percent (3 to $4.33. • (ALTH) — Down 0.69 percent (5 to $7.23. Dow Jones & Co. said Monday it is adding and Travelersw Cos. to the Dow Jones Industrial Average and dropping Generalp Motorsand , effective June 8.
Friday, October 5, 2012
Daredevil to attempt highest skydive ever - San Francisco Chronicle (blog)
xszeyluje.blogspot.com
San Francisco Chronicle (blog) | Daredevil to attempt highest skydive ever San Francisco Chronicle (blog) You may be surprised to hear that the current record for highest skydive has stood since 1960, when a then-Air Force Captain Joe Kittinger jumped 102,800 feet. Interestingly enough, Kittinger is now an advisor for Baumgartner's mission, c » |
Thursday, October 4, 2012
Jaffe prepares to pass on the Booksource business - St. Louis Business Journal:
lehoquvuhu.wordpress.com
But Jaffe, 65, takes even greater pride in the groundwor k he has laid forthe future: a well-thought-outt and agreed-upon strategy for passing the companty on to his three children. In Jaffe's this succession plan is hisgreatest accomplishment. Statisticss illustrate why. Only about 17 percent of family ownef businesses survive the transition from founder througnhsecond generation, according to Robert Brockhaus, the Coleman Foundatiohn Chair in Entrepreneurship and director of the Familu Firm Forum at . The numberse become even more startling as the yearsgo by. "Lesse than 3 percent of family owned businesses make it throughj the thirdgeneration successfully," Brockhaus said.
Failure to adequatelyy plan for succession, more so even than deat taxes, is the chief caused of familybusiness failures, cite familty business experts such as Brockhaus. Succession plannin for The Booksource began about fiveyears ago, when Jaffe heare a presentation by Joyce Brockhaus, Robert Brockhaus' wife and partnee in the couple's family businessz consulting firm. "I was very impressed, so I went and talkef with her (about succession planning)," Jaffe Even though Jaffe's two sons, Gary and Neil, were workinyg in the family business, he felt that neither was readuy to take charge if he died suddenly orbecame Jaffe's daughter, Donna, who lives in California, joined the company in 2000 to run its newly acquired Peaceable Kingdom Press subsidiary, which producex greeting cards, posters and other paperr products.
"One of the firsyt things we did was to develop a board of advisersx who would be able to help and stand in as interikm president if there was an Jaffe said. Advisers included Stanley former owner ofAllen Foods; Tom Thornton, head of Kansasx City-based Andrews McMeel Publishing; and Myrob Klevins, one of the originap partners of the St. Louis Bread Co. Jaffe consulte d with the advisory board on a regular basis for about five Working withthe Brockhauses, Jaffe establishede a timetable for his own retiremen t as well as a schedule for his children to take on more responsibilit y within the company and for gifting stockj to them.
Jaffe remains responsible for the company's retail divisionb and has taken on more of amentorinyg role. Day to day, he has turnes over most management responsibilities to his Neil Jaffe is nowThe Booksource's running its book-bindery operation and educational division; Gary is chierf operating officer and oversees MIS, shipping and packing. Daughter Donna remains general managefr of PeaceableKingdom Press. "Att this point, I'm still the majority stockholder," Jaffe "My children own almost 50 percent ofthe company'sa stock among them. When I'm readyy to relinquish, I'll pass the rest of the stockm onto them." At Budrovich Inc.
, Presidenft Jeff Budrovich is already in succession-planning mode, althoug he's only 38. A family tragedy thrust Budrovicjh into the excavating and cranerentakl company's top spot in 1990. His father, who ran the was killed in a crash whilee piloting hisown plane. The tragedy left the companuy without asuccession plan. Jeff Budrovicj found himself taking the reins of the firm To prevent that scenari ofrom reoccurring, three yearxs ago, Budrovich instituted a strategic-planning process with a consultant from Franklin Covey Co. in Chicago to help deal with generap business andsuccession issues.
The $25 million compangy now has managers of each of its four crane rental, sewers, gradin g and land development. "Five years ago, thered was just one person in chargre of thewhole thing," Budrovichu said. "It was kind of a dangerouws situation."
But Jaffe, 65, takes even greater pride in the groundwor k he has laid forthe future: a well-thought-outt and agreed-upon strategy for passing the companty on to his three children. In Jaffe's this succession plan is hisgreatest accomplishment. Statisticss illustrate why. Only about 17 percent of family ownef businesses survive the transition from founder througnhsecond generation, according to Robert Brockhaus, the Coleman Foundatiohn Chair in Entrepreneurship and director of the Familu Firm Forum at . The numberse become even more startling as the yearsgo by. "Lesse than 3 percent of family owned businesses make it throughj the thirdgeneration successfully," Brockhaus said.
Failure to adequatelyy plan for succession, more so even than deat taxes, is the chief caused of familybusiness failures, cite familty business experts such as Brockhaus. Succession plannin for The Booksource began about fiveyears ago, when Jaffe heare a presentation by Joyce Brockhaus, Robert Brockhaus' wife and partnee in the couple's family businessz consulting firm. "I was very impressed, so I went and talkef with her (about succession planning)," Jaffe Even though Jaffe's two sons, Gary and Neil, were workinyg in the family business, he felt that neither was readuy to take charge if he died suddenly orbecame Jaffe's daughter, Donna, who lives in California, joined the company in 2000 to run its newly acquired Peaceable Kingdom Press subsidiary, which producex greeting cards, posters and other paperr products.
"One of the firsyt things we did was to develop a board of advisersx who would be able to help and stand in as interikm president if there was an Jaffe said. Advisers included Stanley former owner ofAllen Foods; Tom Thornton, head of Kansasx City-based Andrews McMeel Publishing; and Myrob Klevins, one of the originap partners of the St. Louis Bread Co. Jaffe consulte d with the advisory board on a regular basis for about five Working withthe Brockhauses, Jaffe establishede a timetable for his own retiremen t as well as a schedule for his children to take on more responsibilit y within the company and for gifting stockj to them.
Jaffe remains responsible for the company's retail divisionb and has taken on more of amentorinyg role. Day to day, he has turnes over most management responsibilities to his Neil Jaffe is nowThe Booksource's running its book-bindery operation and educational division; Gary is chierf operating officer and oversees MIS, shipping and packing. Daughter Donna remains general managefr of PeaceableKingdom Press. "Att this point, I'm still the majority stockholder," Jaffe "My children own almost 50 percent ofthe company'sa stock among them. When I'm readyy to relinquish, I'll pass the rest of the stockm onto them." At Budrovich Inc.
, Presidenft Jeff Budrovich is already in succession-planning mode, althoug he's only 38. A family tragedy thrust Budrovicjh into the excavating and cranerentakl company's top spot in 1990. His father, who ran the was killed in a crash whilee piloting hisown plane. The tragedy left the companuy without asuccession plan. Jeff Budrovicj found himself taking the reins of the firm To prevent that scenari ofrom reoccurring, three yearxs ago, Budrovich instituted a strategic-planning process with a consultant from Franklin Covey Co. in Chicago to help deal with generap business andsuccession issues.
The $25 million compangy now has managers of each of its four crane rental, sewers, gradin g and land development. "Five years ago, thered was just one person in chargre of thewhole thing," Budrovichu said. "It was kind of a dangerouws situation."
Tuesday, October 2, 2012
Mega-Firms' Dance with Credit Investing - Wall Street Journal (blog)
humojo.wordpress.com
Mega-Firms' Dance with Credit Investing Wall Street Journal (blog) By Shasha Dai. If you ask any large alternative asset managers what is the asset class to be in at the moment, you'd likely get a one-word answer: credit. The response shouldn't come as a surprise, as the volatile and uncertain world we are living in ... |
Monday, October 1, 2012
Back from the brink
domnaofyvisyhojo.blogspot.com
“We could see the writing on the the Riverwalk resident and Metro councilman saysof Corinthian, pointing to the builder’sd unpaid dumpster bill in excess of $100,000, which led the disposall company to stop Franklin-based Corinthian, selling houses as in Bellevue’d Riverwalk community, filed for Chapter 11 bankruptc y in February 2008, and then latedr Chapter 7. “All we can say in Riverwalk isgood riddance,” Mitchel says. He then watched as residents who had recentlyh purchased their Prestige homes started gettinbg lien notices inthe mail, asking for them to covet Corinthian’s unpaid bills to subcontractors.
Some of thosr residents are still going throughu legal proceedings to get theliens cleared. For severa months, nothing happened with the homee and lots as they went through the bankruptcu court and theforeclosure process. “Houses would sit there for monthson end, yardse unkempt, weeds growing high and construction Mitchell says. “Finally the auctione began and companies could come in a fix the Sincethat time, Riverwalk has come alive as builders and investors have move in to fix, finish and build the homez and lots that were “Residents were unsettled about what was going to happen,” says Rob Peasee of CPS Land, Riverwalk’s “Once builders started finishing thosw up, there was a big senser of relief among the residents.
” Homeowners saw that the replacemenf builders would conform the homes to what had alreadgy been built and were keeping to the standardd of the community, Pease says. “The new home certainly blend in,” he says. Home saleas have been steady at Riverwalk. The Multipler Listing Service shows47 homes, new and resales, have sold in the communitty in the past year. The averagr sales price of those homes, at $222,000, was 7 percentr lower than the average list of About 21 new homes have sold in the past year at a medianh priceof $232,000, down from a list price of Resident Heather Thompson pushed a baby stroller through Riverwal k recently.
She lives in a housr built by Celebration but wasn’t too concerned about the bankruptcy of Corinthian’s “I knew that somebody would come in and finish them,” she says of the lots and half-dons homes that dotted the neighborhoodd after the large builder went bankrupt. Her home now backx up to a completed home, not an unfinished one. The main impacrt of the bankruptcy was on recentPrestige buyers, who she surmisex lost their home warranties when the builder went “This has come a long way in the past year,” Thompso says, pointing to finished homes that used to be two-by-fourx and concrete.
Matt Kuyper says he and his Maggie, watched as the banks came in quickly and addec roofs to the homes they now ownes in the Parkview section of Riverwalk to protecttheir investments. The coupls was just glad to seethe progress, Kuyperf says. Norfolk Homes finished the home across the streert from the Kuypers and has it forsale now. Mitchello has been working with , which took back a portio of land in foreclosure near the entrancd of Riverwalk where Corinthiajn had intended tobuild townhomes. He says the bank stilkl is trying to sell the property to a developer and that he woulc like tosee single-family homeas built there.
Mitchell says he loves the community and recently movedc from one home in Riverwalk to a largert one there to accommodate hisgrowingg family. “Everyone for the most part loves he says. “We have cookout in the cul-de-sacs.”
“We could see the writing on the the Riverwalk resident and Metro councilman saysof Corinthian, pointing to the builder’sd unpaid dumpster bill in excess of $100,000, which led the disposall company to stop Franklin-based Corinthian, selling houses as in Bellevue’d Riverwalk community, filed for Chapter 11 bankruptc y in February 2008, and then latedr Chapter 7. “All we can say in Riverwalk isgood riddance,” Mitchel says. He then watched as residents who had recentlyh purchased their Prestige homes started gettinbg lien notices inthe mail, asking for them to covet Corinthian’s unpaid bills to subcontractors.
Some of thosr residents are still going throughu legal proceedings to get theliens cleared. For severa months, nothing happened with the homee and lots as they went through the bankruptcu court and theforeclosure process. “Houses would sit there for monthson end, yardse unkempt, weeds growing high and construction Mitchell says. “Finally the auctione began and companies could come in a fix the Sincethat time, Riverwalk has come alive as builders and investors have move in to fix, finish and build the homez and lots that were “Residents were unsettled about what was going to happen,” says Rob Peasee of CPS Land, Riverwalk’s “Once builders started finishing thosw up, there was a big senser of relief among the residents.
” Homeowners saw that the replacemenf builders would conform the homes to what had alreadgy been built and were keeping to the standardd of the community, Pease says. “The new home certainly blend in,” he says. Home saleas have been steady at Riverwalk. The Multipler Listing Service shows47 homes, new and resales, have sold in the communitty in the past year. The averagr sales price of those homes, at $222,000, was 7 percentr lower than the average list of About 21 new homes have sold in the past year at a medianh priceof $232,000, down from a list price of Resident Heather Thompson pushed a baby stroller through Riverwal k recently.
She lives in a housr built by Celebration but wasn’t too concerned about the bankruptcy of Corinthian’s “I knew that somebody would come in and finish them,” she says of the lots and half-dons homes that dotted the neighborhoodd after the large builder went bankrupt. Her home now backx up to a completed home, not an unfinished one. The main impacrt of the bankruptcy was on recentPrestige buyers, who she surmisex lost their home warranties when the builder went “This has come a long way in the past year,” Thompso says, pointing to finished homes that used to be two-by-fourx and concrete.
Matt Kuyper says he and his Maggie, watched as the banks came in quickly and addec roofs to the homes they now ownes in the Parkview section of Riverwalk to protecttheir investments. The coupls was just glad to seethe progress, Kuyperf says. Norfolk Homes finished the home across the streert from the Kuypers and has it forsale now. Mitchello has been working with , which took back a portio of land in foreclosure near the entrancd of Riverwalk where Corinthiajn had intended tobuild townhomes. He says the bank stilkl is trying to sell the property to a developer and that he woulc like tosee single-family homeas built there.
Mitchell says he loves the community and recently movedc from one home in Riverwalk to a largert one there to accommodate hisgrowingg family. “Everyone for the most part loves he says. “We have cookout in the cul-de-sacs.”
Subscribe to:
Posts (Atom)