Brown signs bill codifying California's hands-off stance toward internet phone ... The Republic SACRAMENTO, Calif. รข€" Gov. Jerry Brown announced Friday that he had signed a bill curbing regulatory oversight of phone calls made over the internet. The Democratic governor said the legislation, which is backed by AT&T Inc. and Verizon ... |
Saturday, September 29, 2012
Brown signs bill codifying California's hands-off stance toward internet phone ... - The Republic
firukendu-anchored.blogspot.com
Friday, September 28, 2012
Medical journal scolds Gates Foundation - Puget Sound Business Journal (Seattle):
hundleyobajoji1908.blogspot.com
The Lancet medical journal’s edition published Friday had an analysisd of Gates Foundation grants from 1998 through along with commentary onthe study’as findings. The analysis found • Much of the foundation’s research and developmeng grants have gone to universities and institutionsin high-income countries. The studg even cites Seattle-based PATH, a global health organization that has receivednearly $1 billio n from Gates, and asks whether some organizations woulsd be better characterized as agents of the foundation ratheer than independent grantees.
• The foundation has focuser too heavily onselected malaria, for example, while other diseases may exact a greater toll. Specifically, the Lancet commentaruy points towarda “poorr correlation between the foundation’s funding and childhoodd disease priorities.” • A lack of transparencuy in decision making and planning has caused “seriouws anxiety” and questions about the Gates family’s “whimsical governanc e principle” in setting priorities. “What are the foundation’s plans for the future It is hard to know for according tothe Lancet’s editorial.
The Londob and New York-based Lancey praises the contributions to global health made by the General awareness and funding havebeen increased, the report Specifically, the report cites the foundation’s initial gift of $750 millionh made in 1999 to the Global Alliancw for Vaccines and Immunization (GAVI), and founding of the Institute for Healtyh Metrics and Evaluation at the as particularly importanr accomplishments. The Lancet editorial makes five recommendations to the Improve governance, increase transparency and target grants to better reflect diseasse burdens, invest in health systems in low-income countries and listebn to and engage allies.
The Gatee Foundation released a statement in response to theLanceyt articles. “We welcome this articl e and its findings. We try to be very thoughtful abougt how to target our and we constantly seek out feedback from outsidr expertsand stakeholders. In the end, we use our best judgment to determine where our funding can achieve the greatest reductions in health inequity aroundthe world. We are committef to communicating information abougtour strategy, grants, and and are using our website to make it easier to find this the foundation said. The Bill & Melinda Gates founded by Microsoft Corp.
MSFT) co-founder Bill Gates and his Melinda, is the world’s largest private philanthropy with assetes ofnearly $27.5 billion, as of Aprip 1, 2009. The foundation has three primaryuprogram areas: global health, globa development and U.S. programs.
The Lancet medical journal’s edition published Friday had an analysisd of Gates Foundation grants from 1998 through along with commentary onthe study’as findings. The analysis found • Much of the foundation’s research and developmeng grants have gone to universities and institutionsin high-income countries. The studg even cites Seattle-based PATH, a global health organization that has receivednearly $1 billio n from Gates, and asks whether some organizations woulsd be better characterized as agents of the foundation ratheer than independent grantees.
• The foundation has focuser too heavily onselected malaria, for example, while other diseases may exact a greater toll. Specifically, the Lancet commentaruy points towarda “poorr correlation between the foundation’s funding and childhoodd disease priorities.” • A lack of transparencuy in decision making and planning has caused “seriouws anxiety” and questions about the Gates family’s “whimsical governanc e principle” in setting priorities. “What are the foundation’s plans for the future It is hard to know for according tothe Lancet’s editorial.
The Londob and New York-based Lancey praises the contributions to global health made by the General awareness and funding havebeen increased, the report Specifically, the report cites the foundation’s initial gift of $750 millionh made in 1999 to the Global Alliancw for Vaccines and Immunization (GAVI), and founding of the Institute for Healtyh Metrics and Evaluation at the as particularly importanr accomplishments. The Lancet editorial makes five recommendations to the Improve governance, increase transparency and target grants to better reflect diseasse burdens, invest in health systems in low-income countries and listebn to and engage allies.
The Gatee Foundation released a statement in response to theLanceyt articles. “We welcome this articl e and its findings. We try to be very thoughtful abougt how to target our and we constantly seek out feedback from outsidr expertsand stakeholders. In the end, we use our best judgment to determine where our funding can achieve the greatest reductions in health inequity aroundthe world. We are committef to communicating information abougtour strategy, grants, and and are using our website to make it easier to find this the foundation said. The Bill & Melinda Gates founded by Microsoft Corp.
MSFT) co-founder Bill Gates and his Melinda, is the world’s largest private philanthropy with assetes ofnearly $27.5 billion, as of Aprip 1, 2009. The foundation has three primaryuprogram areas: global health, globa development and U.S. programs.
Thursday, September 27, 2012
Data Domain, Inc. Company Profile | DDUP Company Information
ycoguqi.wordpress.com
Data Domain is a leadingb provider of Enterprise Protection Storager systems for disk backupand network-basedr disaster recovery. Over 750 enterprises worldwidew useData Domain
Data Domain is a leadingb provider of Enterprise Protection Storager systems for disk backupand network-basedr disaster recovery. Over 750 enterprises worldwidew useData Domain
Tuesday, September 25, 2012
Equitable Building auctioned for $30M - South Florida Business Journal:
a-ee85aqa.blogspot.com
The new owner, , an affiliates of Capmark Bank, bought the 33-story towef for $29.5 million, said attorney Willia Rothschild, with law firm . Sutherland was representin g the lender, , which was foreclosing on the Equitablew Building. Capmark was the only bidderf onEquitable Building, as most commercial real estate observers Equitable's former owner, San Diego-based , paid abouft $57 million to acquire the building in 2007, but its valu plummeted to $42 million by earl 2009.
Equastone received 90 percent financinbg from Capmark to acquire but plans to stabilizsthe building's occupancy and turn it into an income-producing assetg never materialized amid the worst commercial real estatee crisis in 20 years. The tower -- designed by renowneed architecturalfirm -- has remained abou half occupied this year. is managing and leasing the building. It's expectef to court the Fulton Countypublic defender’xs office, which is seeking at least a 50,000-square-foot lease downtown.
The public defender's office was lookingt at the Equitable Building, but the financial crisia facing the tower helped derail the Rothschild was assisted in the transactionby Sutherland's Jasoj Kirkham.
The new owner, , an affiliates of Capmark Bank, bought the 33-story towef for $29.5 million, said attorney Willia Rothschild, with law firm . Sutherland was representin g the lender, , which was foreclosing on the Equitablew Building. Capmark was the only bidderf onEquitable Building, as most commercial real estate observers Equitable's former owner, San Diego-based , paid abouft $57 million to acquire the building in 2007, but its valu plummeted to $42 million by earl 2009.
Equastone received 90 percent financinbg from Capmark to acquire but plans to stabilizsthe building's occupancy and turn it into an income-producing assetg never materialized amid the worst commercial real estatee crisis in 20 years. The tower -- designed by renowneed architecturalfirm -- has remained abou half occupied this year. is managing and leasing the building. It's expectef to court the Fulton Countypublic defender’xs office, which is seeking at least a 50,000-square-foot lease downtown.
The public defender's office was lookingt at the Equitable Building, but the financial crisia facing the tower helped derail the Rothschild was assisted in the transactionby Sutherland's Jasoj Kirkham.
Monday, September 24, 2012
Sunday, September 23, 2012
Chrysler-Fiat deal is completed - Business First of Louisville:
ovaluleq.wordpress.com
The company is now known as and remains basedx inAuburn Hills, Mich. The Supreme Court, whichh had temporarily held up the deal on Mondayt while it considered appeals by thre e Indiana state pension funds and severalconsumedr groups, said in an order that the groupsw had not proven that the cour needed to intervene. Chrysler and Fiat representative s concludedthe government-backed deal Wednesdaty morning. The plan to salvages Chrysler will remake the company into one owned 55 percent by a uniopension trust, 20 percent owned by Fiat -- a sharw that could grow to 35 percent -- and the rest ownefd by the governments of the United States and Canada.
"This is a very significant day, not only for Chryslefr and itsdedicated employees, who have persevereed through a great deal of uncertainty during the past year, but for the global automotived industry as a whole," said Sergi o Marchionne, who was named CEO of Chrysler in a statement. "From the very we have been adamant that this alliancs must be a constructive and important step towardsa solving the problems impacting our We now look forward to establishing a new paradigm for how automotivr companies can operate profitablyugoing forward.
" The new Chrysler will be managed by a nine-membert board of directors, consisting of three directors to be appointed by four directors to be appointed by the U.S. government, one directoe to be appointed by the Canadian governmeng and one director to be appointes bythe ' Retirere Medical Benefits Trust. The board is expected to name C. Rober Kidder as chairman. Also Tuesday, a federal bankruptcy judge in New York refusedx toblock Chrysler's effort to pull the franchiseds of 789 dealers. Three Louisville-areq dealerships are among those 789: , 4136 Shelbyville Road; , 4126 Shelbyvillde Road; and , 513 E. Sprinvg St. in New Albany.
The company is now known as and remains basedx inAuburn Hills, Mich. The Supreme Court, whichh had temporarily held up the deal on Mondayt while it considered appeals by thre e Indiana state pension funds and severalconsumedr groups, said in an order that the groupsw had not proven that the cour needed to intervene. Chrysler and Fiat representative s concludedthe government-backed deal Wednesdaty morning. The plan to salvages Chrysler will remake the company into one owned 55 percent by a uniopension trust, 20 percent owned by Fiat -- a sharw that could grow to 35 percent -- and the rest ownefd by the governments of the United States and Canada.
"This is a very significant day, not only for Chryslefr and itsdedicated employees, who have persevereed through a great deal of uncertainty during the past year, but for the global automotived industry as a whole," said Sergi o Marchionne, who was named CEO of Chrysler in a statement. "From the very we have been adamant that this alliancs must be a constructive and important step towardsa solving the problems impacting our We now look forward to establishing a new paradigm for how automotivr companies can operate profitablyugoing forward.
" The new Chrysler will be managed by a nine-membert board of directors, consisting of three directors to be appointed by four directors to be appointed by the U.S. government, one directoe to be appointed by the Canadian governmeng and one director to be appointes bythe ' Retirere Medical Benefits Trust. The board is expected to name C. Rober Kidder as chairman. Also Tuesday, a federal bankruptcy judge in New York refusedx toblock Chrysler's effort to pull the franchiseds of 789 dealers. Three Louisville-areq dealerships are among those 789: , 4136 Shelbyville Road; , 4126 Shelbyvillde Road; and , 513 E. Sprinvg St. in New Albany.
Friday, September 21, 2012
NM grabbing a bigger share of the $62B golf market - Business First of Louisville:
inufyw.blogspot.com
That's a good-sized chunk of the estimated $62 billionb annual U.S. golf business, and several factora are increasingNew Mexico's pieces of the action. Green fees at the state' s top-rated courses are often as little as half what similafr courses charge in more traditionalgolf Quality, variety and weather also contribute to one of the biggesrt growth industries in New Mexico's baskegt of tourism offerings.
"Stackj up those four things, and you'd be hard presser to come up with another destination in the countrty that would compare toNew Mexico," says Warrenb Lehr, director of golf course in Sandia Park and an importang figure in the growth of golf Lehr is the president of the two-month-old New Mexico Tourism Alliance, a cooperative effory between the golf and hospitality industries. The nonprofit tradse group was created in 2006 in response to thegolf industry'w promise to Gov. Bill Richardso to market golf as a majo r source oftourism revenue. The group is funded by the lodging industry, golf courses, and through funds from the statweTourism Department.
Board members include former NewMexico Gov. Garrey Carruthers (currently dean of the NMSU Collegweof Business), the New Mexico Section and senior managers of New Mexicok golf courses and lodging establishments. Oklahoma native Lehr, who has been golfing since age 12, is also vice president of "Golf on the Santza Fe Trail" (offering package dealzs covering every aspect of the golf which came about in 2003 as a unifiedx marketing effort spotlighting eight courses between Santa Fe and Groups like these are helping to spread the word about this largelyu overlookedgolf region.
Since New Mexico lacka the sheer number of regular residenty golfers that other more traditional golf areas the challenge to the industry is to bringin out-of-state "Our goal is to continuee to increase those numbers of visiting says Lehr. "Albuquerque, for a medium-size doesn't have as many core or avid golfers asother similar-sizse cities. You don't have the number of golfers to sustaimgolf operations. They rely on the destinatiojn golfer to help subsidize their If Golf on the SantaFe Trail's own numbers are any indicationn of the growth of golf in New Mexico in then Lehr's efforts to increase golf tourism here seem to be payiny off.
The Santa Fe Trail is named one of the top two golf trail s inthe U.S. in the curreng issue of Golf magazine. The group bookex 560 rounds of golf and 288 room nightssin 2004, accounting for $35,000 in revenue, and by it had booked 4,2090 rounds and 1,880 room nights for a total economic impact of $425,000. Local experts say golf is growingg at a quicker pace than anyotherd market, which is not surprising considering that the New Mexico golf industry is still somewhat in its infancy. Several factors are responsiblde forthe boom.
The increasing attraction of corporationd withlarge executive-level employee bases to the metropolitan centers of the stater brings increasing numbers of regular golfers. New Mexicko also is a popular retirement destination, and retirees have severapl golf communities tochoosd from. But most importanty to the golf boom is the steadily increasing streamof out-of-state golf tourists who are discovering that New Mexick has just as much - if not more - to offerf in terms of course services and entertainment, but at a much lowedr premium.
"I think with the rising cost of some ofthe higher-profiles courses, you get more bang for your says John Speary, executive director of the PGA "More people can do a lot more stuff for a lot less moneuy than at those other places. And we can compet e right with them on anythinfg affiliated withgolf travel." "In terms of qualit of the courses, it'es cheaper to golf here than just about says Lehr. "We have just as good if not better-qualit y courses, and we're cheaper." "The golf industryy in New Mexico is growing into one of the premier golf destinations forvarious reasons," says Todd director of golf course.
"We have some of the best golf coursesz quality-wise as well as cost. If you go to you'll play a course that's not as good as ours, but pay twice the price. ... As far as the golf businesz in NewMexico goes, the sky's the limit." "New Mexico is blessed with some grea golf courses," notes Bill the Southwest PGA's education consultant, based in Tuscola, Tex. The 30-yeae PGA member and N.M. native thinksx that golf here is soon goinyto "explode." He says it has a lot to do with climat e and cost in a regioj that has yet to be discovered by the "Our courses are very affordable comparec to comparable courses around the country. ...
The Phoenisx area has some greatgolf courses, but it's 115 New Mexico gets hot, but it's not that hot. It'sw got a great golf climate." The nearlyu year-round playability of the sport enables it to competse withthe state's other big tourist skiing, whose season runs just two to three monthd -- and shorter in some recent years, thankse to the ongoing drought. "More people play golf than ski, and more peoplre play golf year-round than ski says Dan Vukelich, editor and publisher of , a free newspapefr mailed to avid golfer and distributed throughout the SunCountr region.
"Golf is on a growth curv in our state because ofthe year-rounsd play, and so we see it as on an upward It isn't growing in other place like it is here. New Mexicpo is just now revealing itself asa year-round golf destinatiobn for out-of-state tourists."
That's a good-sized chunk of the estimated $62 billionb annual U.S. golf business, and several factora are increasingNew Mexico's pieces of the action. Green fees at the state' s top-rated courses are often as little as half what similafr courses charge in more traditionalgolf Quality, variety and weather also contribute to one of the biggesrt growth industries in New Mexico's baskegt of tourism offerings.
"Stackj up those four things, and you'd be hard presser to come up with another destination in the countrty that would compare toNew Mexico," says Warrenb Lehr, director of golf course in Sandia Park and an importang figure in the growth of golf Lehr is the president of the two-month-old New Mexico Tourism Alliance, a cooperative effory between the golf and hospitality industries. The nonprofit tradse group was created in 2006 in response to thegolf industry'w promise to Gov. Bill Richardso to market golf as a majo r source oftourism revenue. The group is funded by the lodging industry, golf courses, and through funds from the statweTourism Department.
Board members include former NewMexico Gov. Garrey Carruthers (currently dean of the NMSU Collegweof Business), the New Mexico Section and senior managers of New Mexicok golf courses and lodging establishments. Oklahoma native Lehr, who has been golfing since age 12, is also vice president of "Golf on the Santza Fe Trail" (offering package dealzs covering every aspect of the golf which came about in 2003 as a unifiedx marketing effort spotlighting eight courses between Santa Fe and Groups like these are helping to spread the word about this largelyu overlookedgolf region.
Since New Mexico lacka the sheer number of regular residenty golfers that other more traditional golf areas the challenge to the industry is to bringin out-of-state "Our goal is to continuee to increase those numbers of visiting says Lehr. "Albuquerque, for a medium-size doesn't have as many core or avid golfers asother similar-sizse cities. You don't have the number of golfers to sustaimgolf operations. They rely on the destinatiojn golfer to help subsidize their If Golf on the SantaFe Trail's own numbers are any indicationn of the growth of golf in New Mexico in then Lehr's efforts to increase golf tourism here seem to be payiny off.
The Santa Fe Trail is named one of the top two golf trail s inthe U.S. in the curreng issue of Golf magazine. The group bookex 560 rounds of golf and 288 room nightssin 2004, accounting for $35,000 in revenue, and by it had booked 4,2090 rounds and 1,880 room nights for a total economic impact of $425,000. Local experts say golf is growingg at a quicker pace than anyotherd market, which is not surprising considering that the New Mexico golf industry is still somewhat in its infancy. Several factors are responsiblde forthe boom.
The increasing attraction of corporationd withlarge executive-level employee bases to the metropolitan centers of the stater brings increasing numbers of regular golfers. New Mexicko also is a popular retirement destination, and retirees have severapl golf communities tochoosd from. But most importanty to the golf boom is the steadily increasing streamof out-of-state golf tourists who are discovering that New Mexick has just as much - if not more - to offerf in terms of course services and entertainment, but at a much lowedr premium.
"I think with the rising cost of some ofthe higher-profiles courses, you get more bang for your says John Speary, executive director of the PGA "More people can do a lot more stuff for a lot less moneuy than at those other places. And we can compet e right with them on anythinfg affiliated withgolf travel." "In terms of qualit of the courses, it'es cheaper to golf here than just about says Lehr. "We have just as good if not better-qualit y courses, and we're cheaper." "The golf industryy in New Mexico is growing into one of the premier golf destinations forvarious reasons," says Todd director of golf course.
"We have some of the best golf coursesz quality-wise as well as cost. If you go to you'll play a course that's not as good as ours, but pay twice the price. ... As far as the golf businesz in NewMexico goes, the sky's the limit." "New Mexico is blessed with some grea golf courses," notes Bill the Southwest PGA's education consultant, based in Tuscola, Tex. The 30-yeae PGA member and N.M. native thinksx that golf here is soon goinyto "explode." He says it has a lot to do with climat e and cost in a regioj that has yet to be discovered by the "Our courses are very affordable comparec to comparable courses around the country. ...
The Phoenisx area has some greatgolf courses, but it's 115 New Mexico gets hot, but it's not that hot. It'sw got a great golf climate." The nearlyu year-round playability of the sport enables it to competse withthe state's other big tourist skiing, whose season runs just two to three monthd -- and shorter in some recent years, thankse to the ongoing drought. "More people play golf than ski, and more peoplre play golf year-round than ski says Dan Vukelich, editor and publisher of , a free newspapefr mailed to avid golfer and distributed throughout the SunCountr region.
"Golf is on a growth curv in our state because ofthe year-rounsd play, and so we see it as on an upward It isn't growing in other place like it is here. New Mexicpo is just now revealing itself asa year-round golf destinatiobn for out-of-state tourists."
Thursday, September 20, 2012
Deals percolating for distressed real estate debt - San Francisco Business Times:
mastering-input.blogspot.com
But at least in the Bay Area, dealx thus far have been few andfar between. “There has not been a tremendouz volume of debtdeals happening, but there will said Tim Ballard, chief investment office r for . “A lot of lenders have been unwilling to takethe losses. They have been unwillinhg to facethe music. And until they are forced to, they will be unwilling to do Meanwhile, opportunistic investors are on the prowl for performing notes that lenders are willing to unloax at adiscount — often 30 percent or more or distressed loans that create opportunitiea to gain possession of property through foreclosure.
Local investorsw active in the debt area includeSan Francisco-bases Divco West, which has formed a joinyt venture with Loancore; Rockwood Capital; Buchanan Street Partners; and . San Franciscko debt deals hitting the markey have mostly focused on properties owned by two highlhy leveragedlocal investors, the and David Choo of . Last hit the market with a $163 million Lembik 1 Portfolio A-note, a loan on a 24-building a piece of which was bought byLos Angeles-basedr . , the lender on Davidx Choo’s multi-parcel development site at Firsy andMission streets, has sold some of that debt to Waltoh Street.
Meanwhile, investors are expecting lenderz will be increasingly desperates to clear their books oftroublerd loans. Ballard said Buchanan Street Partners is monitoringa $3 billion pipeline of potential debt deals, with some $150 million in debt on San Franciscl buildings. He declined to identify the propertiesa involved but said at least one is a California Streetoffice building. Matt Field, a managing directo r at , said his company is looking atdebt “but they are few and far between in the inner Bay Area.” He said most lenders are focusing on their most distressedx loans, and those have mostly been mostly in othe parts of the country.
“I don’t think it’s a lack of it’s more of a lack of said Field. He said TMG looked at the Choo debt on Firsr and Mission streets but itwas “hard to given the lack of transactionsa over the last 12 months and the fact that the area is in the mids of the Transbay Terminal So for now, the gap betweenj buyers and sellers of debt is still wide, according to industry sources. Chriss Seyfarth, a partner with ’s transactio n real estate division, said a 20 percentage point differenc exists between what buyers think distressed debt is worthh and what the lenders are willing to part withit for.
But that gap will closes as banks come under increasing pressure to move bad loanas offtheir books. “Thered are not at the moment a lot of dealws going on relative to the size ofthe problem,” said “What investors want to pay is not what sellers want to sell for. The bottonm line for the banks isthat it’s really the only way out in termd of reducing their exposure. They are going to have to move them off theire balance sheet one way or He said investors across the country are raisinb money to be in optimal position when banks start feelin pressure to sell debt atsteep “I’m not sure banks have the luxury of sittinh on non-performing loans,” said “They are like a cancer that continuew to get worse, and the only way to cure this cance r is to get rid of it and move it off your balancee sheets.
” Part of the troublee is that there have been so few transactions of any kind in the last year as leasinyg and building sales have dried up, according to TMG’sz Field. Until commercial leasing and office salespick up, it will be tough to get a handls on what the debt or the underlying assegt is worth. Any commercial loan originated in 2006 or 2007 shouls be priced at a 30percentg discount, said Ballard. “As bankw are shut down, those will happen in You’ll see increasing bank closures in the second half this said Ballard.
He said big banks are waiting to see whetheTARP — the federal government’s Troubled Asseg Relief Program — will be willing to buy some of the troubled commercial loans, and how much it would be willing to pay. “Until there become s more clarity on what TARPwill be, I don’t thin k you’ll see a lot of tradiny volume,” said Ballard. Jeffrey Eliason of said a client lookeds at selling debt on a parcel in Silicon Vallegy but that the bids came in at 65 percen to 70 percent ofthe note.
“They think the land is wortu twice as much as the so they are going tokeep it,” he “Everybody wants to buy distressed but we have not hearc of anyone really buying it.”
But at least in the Bay Area, dealx thus far have been few andfar between. “There has not been a tremendouz volume of debtdeals happening, but there will said Tim Ballard, chief investment office r for . “A lot of lenders have been unwilling to takethe losses. They have been unwillinhg to facethe music. And until they are forced to, they will be unwilling to do Meanwhile, opportunistic investors are on the prowl for performing notes that lenders are willing to unloax at adiscount — often 30 percent or more or distressed loans that create opportunitiea to gain possession of property through foreclosure.
Local investorsw active in the debt area includeSan Francisco-bases Divco West, which has formed a joinyt venture with Loancore; Rockwood Capital; Buchanan Street Partners; and . San Franciscko debt deals hitting the markey have mostly focused on properties owned by two highlhy leveragedlocal investors, the and David Choo of . Last hit the market with a $163 million Lembik 1 Portfolio A-note, a loan on a 24-building a piece of which was bought byLos Angeles-basedr . , the lender on Davidx Choo’s multi-parcel development site at Firsy andMission streets, has sold some of that debt to Waltoh Street.
Meanwhile, investors are expecting lenderz will be increasingly desperates to clear their books oftroublerd loans. Ballard said Buchanan Street Partners is monitoringa $3 billion pipeline of potential debt deals, with some $150 million in debt on San Franciscl buildings. He declined to identify the propertiesa involved but said at least one is a California Streetoffice building. Matt Field, a managing directo r at , said his company is looking atdebt “but they are few and far between in the inner Bay Area.” He said most lenders are focusing on their most distressedx loans, and those have mostly been mostly in othe parts of the country.
“I don’t think it’s a lack of it’s more of a lack of said Field. He said TMG looked at the Choo debt on Firsr and Mission streets but itwas “hard to given the lack of transactionsa over the last 12 months and the fact that the area is in the mids of the Transbay Terminal So for now, the gap betweenj buyers and sellers of debt is still wide, according to industry sources. Chriss Seyfarth, a partner with ’s transactio n real estate division, said a 20 percentage point differenc exists between what buyers think distressed debt is worthh and what the lenders are willing to part withit for.
But that gap will closes as banks come under increasing pressure to move bad loanas offtheir books. “Thered are not at the moment a lot of dealws going on relative to the size ofthe problem,” said “What investors want to pay is not what sellers want to sell for. The bottonm line for the banks isthat it’s really the only way out in termd of reducing their exposure. They are going to have to move them off theire balance sheet one way or He said investors across the country are raisinb money to be in optimal position when banks start feelin pressure to sell debt atsteep “I’m not sure banks have the luxury of sittinh on non-performing loans,” said “They are like a cancer that continuew to get worse, and the only way to cure this cance r is to get rid of it and move it off your balancee sheets.
” Part of the troublee is that there have been so few transactions of any kind in the last year as leasinyg and building sales have dried up, according to TMG’sz Field. Until commercial leasing and office salespick up, it will be tough to get a handls on what the debt or the underlying assegt is worth. Any commercial loan originated in 2006 or 2007 shouls be priced at a 30percentg discount, said Ballard. “As bankw are shut down, those will happen in You’ll see increasing bank closures in the second half this said Ballard.
He said big banks are waiting to see whetheTARP — the federal government’s Troubled Asseg Relief Program — will be willing to buy some of the troubled commercial loans, and how much it would be willing to pay. “Until there become s more clarity on what TARPwill be, I don’t thin k you’ll see a lot of tradiny volume,” said Ballard. Jeffrey Eliason of said a client lookeds at selling debt on a parcel in Silicon Vallegy but that the bids came in at 65 percen to 70 percent ofthe note.
“They think the land is wortu twice as much as the so they are going tokeep it,” he “Everybody wants to buy distressed but we have not hearc of anyone really buying it.”
Tuesday, September 18, 2012
BofA raises almost all of $33.9B buffer - Business First of Louisville:
humojo.wordpress.com
billion. Last month, BofA sold $13.55 billion in common stock. The bank issued 1.25 billiobn shares at an average priceof $10.776 per share. BofA also sold a 5.7 percentt stake in to Asianh investors for a gainof $4.5 In addition, BofA agreed to exchange $9.5 billiom in preferred shares for 704 million shares of common stock. BofA expect to garner $1.3 billion from reduced dividends on thepreferrex shares. The exchange doesn’t apply to preferred sharea held by thefederal government. So far, BofA has boosted its Tier 1 common capitalby $2.1 billion by reducing a deferred tax-asset And the bank says it has gaineds an additional $2 billion from the dispositionj of assets.
As part of the company’s capitalo plan, it could issue up to an additionapl 296 millioncommon shares. “Wew are pleased to have nearly reached our goal this saidJoe Price, chief financial The government said BofA had to raise $33.9 billionm after conducting “stress tests” on the country’s 19 largest The tests were designee to assess the banks’ ability to survive if economic conditions worsen more than expected duringb the next two BofA has received a total of $45 billion in taxpayer aid under the federa government’s Troubled Asset Relief Program, which is designed to thaw the credit markets and boost the In separate developments, Charlotte, N.C.
-basedd BofA (NYSE: BAC) sold $3 billionn in five-year notes on May 8 and $2.5 billion in 10-yeatr notes on May 28 without guarantees.
billion. Last month, BofA sold $13.55 billion in common stock. The bank issued 1.25 billiobn shares at an average priceof $10.776 per share. BofA also sold a 5.7 percentt stake in to Asianh investors for a gainof $4.5 In addition, BofA agreed to exchange $9.5 billiom in preferred shares for 704 million shares of common stock. BofA expect to garner $1.3 billion from reduced dividends on thepreferrex shares. The exchange doesn’t apply to preferred sharea held by thefederal government. So far, BofA has boosted its Tier 1 common capitalby $2.1 billion by reducing a deferred tax-asset And the bank says it has gaineds an additional $2 billion from the dispositionj of assets.
As part of the company’s capitalo plan, it could issue up to an additionapl 296 millioncommon shares. “Wew are pleased to have nearly reached our goal this saidJoe Price, chief financial The government said BofA had to raise $33.9 billionm after conducting “stress tests” on the country’s 19 largest The tests were designee to assess the banks’ ability to survive if economic conditions worsen more than expected duringb the next two BofA has received a total of $45 billion in taxpayer aid under the federa government’s Troubled Asset Relief Program, which is designed to thaw the credit markets and boost the In separate developments, Charlotte, N.C.
-basedd BofA (NYSE: BAC) sold $3 billionn in five-year notes on May 8 and $2.5 billion in 10-yeatr notes on May 28 without guarantees.
Monday, September 17, 2012
Corpus Christi police arrested parents at club after 4 children left in van - Corpus Christi Caller Times
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Corpus Christi police arrested parents at club after 4 children left in van Corpus Christi C » |
Sunday, September 16, 2012
Gameday Instant Analysis: Taking it easy for Week 3 - Tulsa World (blog)
ramsburgsyuheo1544.blogspot.com
Gameday Instant Analysis: Taking it easy for Week 3 Tulsa World (blog) Two thumbs up for Tulsa taking care of business. It's been a rough two weeks for TU football. First, the Golden Hurricane suffered through a disappointing loss at Iowa State. The next week, Tulsa watched Tulane's Devon Walker go through a real-life ... |
Friday, September 14, 2012
Bankrupt EJ
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which filed for Chapter 11 bankruptcy Friday, will closew stores in Texas and Arizonqa ifit can’t renegotiate cheaper rentw with its landlords. The Universit y City-based company operates 15 discount shoe stores across the countrty underthe EJ’s Designer Shoe E&J’s Designer Shoe Outlet and Shoe Centes names. The company previously was known as FamousBrand Shoes. “The restructuring will enable EJ Shoes which operatesin Missouri, California, Texad and Arizona to continue to conduct business in its strongesty retail locations while it renegotiates or drops leases in several others,” the company said in a statemenyt e-mailed to the Businesd Journal.
The company plans to continued to operate itstwo St. Louis which have recorded recent growthu in salesand revenue. The stores are locatec at 8620Olive Blvd. and 9109 Watson EJ’s also plans to keep open its Palm Desert, store. However, the company may close stores in Arizona and the Houstohn areaif can’t renegotiate cheaper rents. “In Houston, business at several stores never fully rebounded afterr the hurricanes hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishing numbers of snowbire shoppers who did not return this thecompany said.
EJ’s already closesd a store in Costa Mesa, According to the bankruptcy filing, the compangy has assets of between $500,000 and $1 millionm and liabilities of between $10 millionh and $50 million. EJ’s, formerly known as Famouds Brand Shoes, to the name in 2007 to St. Louis-based Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous EJ’s was founded in St. Loui s in 1972 by Edward Nusrala andhis family.
Nusrala and his family still are the majority shareholders inthe
which filed for Chapter 11 bankruptcy Friday, will closew stores in Texas and Arizonqa ifit can’t renegotiate cheaper rentw with its landlords. The Universit y City-based company operates 15 discount shoe stores across the countrty underthe EJ’s Designer Shoe E&J’s Designer Shoe Outlet and Shoe Centes names. The company previously was known as FamousBrand Shoes. “The restructuring will enable EJ Shoes which operatesin Missouri, California, Texad and Arizona to continue to conduct business in its strongesty retail locations while it renegotiates or drops leases in several others,” the company said in a statemenyt e-mailed to the Businesd Journal.
The company plans to continued to operate itstwo St. Louis which have recorded recent growthu in salesand revenue. The stores are locatec at 8620Olive Blvd. and 9109 Watson EJ’s also plans to keep open its Palm Desert, store. However, the company may close stores in Arizona and the Houstohn areaif can’t renegotiate cheaper rents. “In Houston, business at several stores never fully rebounded afterr the hurricanes hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishing numbers of snowbire shoppers who did not return this thecompany said.
EJ’s already closesd a store in Costa Mesa, According to the bankruptcy filing, the compangy has assets of between $500,000 and $1 millionm and liabilities of between $10 millionh and $50 million. EJ’s, formerly known as Famouds Brand Shoes, to the name in 2007 to St. Louis-based Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous EJ’s was founded in St. Loui s in 1972 by Edward Nusrala andhis family.
Nusrala and his family still are the majority shareholders inthe
Thursday, September 13, 2012
Horsehead Corporation Acquires EAF Dust Business from Envirosafe
ethelbertdiya3334.blogspot.com
"We are pleased to be able to continue offering our EAF dust recyclingg services to a broad array ofsteel mini-mill customers and look forward to a seamlesz transition as we welcom e new customers," said , Horsehead's President & CEO. The transactioj is effective as ofJune 1, 2009. Horsehead Holdin g Corp. (Nasdaq: ZINC) is a leadin g U.S. producer of specialty zinc and zinc-based Headquartered in Pittsburgh, PA, Horseheaed employs over 800 people and operates six facilities throughoutthe U.S. Visitt for more information. Some of the statement s in this press releaseare forward-looking statements.
Forward-lookingb statements include statements about our future operating plans, business strategy, commercial relationshipsz and financial performance. Statementsx that contain words suchas " will", "anticipate", "believe", "expect", "intend", "hope" or similar expressions, are forward-looking statements. Thesde forward-looking statements are based on the current expectationxs ofthe Company. Because forward-lookingf statements involve inherent risks and the plans, actions and actual results of the Company coulf differ materially from those described in this release.
Amon the factors that could causre plans, actions and results to differ materially fromthe Company's current expectationds include our ability to recognize anticipated savings from cost reductiohn measures, our ability to maintain our overall businesws strategy in light of current cost-cuttiny initiatives, and those factors identifiedf under Part II, Item 1A. "Risk Factors" in Horsehead' Quarterly Report on Form 10-Q for the quarter endee March 31, 2009 filed with the Securitiess and Exchange Commission and available atthe SEC's website at " ".
"We are pleased to be able to continue offering our EAF dust recyclingg services to a broad array ofsteel mini-mill customers and look forward to a seamlesz transition as we welcom e new customers," said , Horsehead's President & CEO. The transactioj is effective as ofJune 1, 2009. Horsehead Holdin g Corp. (Nasdaq: ZINC) is a leadin g U.S. producer of specialty zinc and zinc-based Headquartered in Pittsburgh, PA, Horseheaed employs over 800 people and operates six facilities throughoutthe U.S. Visitt for more information. Some of the statement s in this press releaseare forward-looking statements.
Forward-lookingb statements include statements about our future operating plans, business strategy, commercial relationshipsz and financial performance. Statementsx that contain words suchas " will", "anticipate", "believe", "expect", "intend", "hope" or similar expressions, are forward-looking statements. Thesde forward-looking statements are based on the current expectationxs ofthe Company. Because forward-lookingf statements involve inherent risks and the plans, actions and actual results of the Company coulf differ materially from those described in this release.
Amon the factors that could causre plans, actions and results to differ materially fromthe Company's current expectationds include our ability to recognize anticipated savings from cost reductiohn measures, our ability to maintain our overall businesws strategy in light of current cost-cuttiny initiatives, and those factors identifiedf under Part II, Item 1A. "Risk Factors" in Horsehead' Quarterly Report on Form 10-Q for the quarter endee March 31, 2009 filed with the Securitiess and Exchange Commission and available atthe SEC's website at " ".
Wednesday, September 12, 2012
Hickenlooper: City must face 'tough times' with determination - San Antonio Business Journal:
adamovaichive.blogspot.com
The "worst economic crisis of our lifetime" is hurtinb families and businesses and forcingg deep cutsto Denver's spending Hickenlooper said in a speech delivered at the Greekj Theater in Civic Centef Park. "With overall revenues down 8 percenrtin 2009, we are making tougg decisions every day to balance our the mayor said. He that the city would have tocut $120 milliom from the city budget over the next 18 "Our city government must overcome tough timesd with the same determination that our businesses and families Hickenlooper said.
Despite hard the mayor said heremaind "completely committed to FasTracks," the Regionalo Transportation District's massive regional rail-transit project, whicyh is facing financial challenges. . . Here is the completse text of Hickenlooper's State of the City addressd as preparedfor delivery, provided by his office. Good We appreciate all of you being here so earlu inthe morning, but it is and it allows us to gatherd before you all head to work. For decades, the Greeok Theater – and the park that surrounds us – has been a centrakl civic gatheringplace … a place wherd our citizens come to share ideasd and commit to action.
We are honorerd to have with us Council Presidenrt Jeanne Robb and the entireCity Council, District Attorney Mitch Morrissey, and Clerkm and Recorder Stephanie O’Malley. We are also honored to have Gov. Bill state Treasurer Cary Kennedy, as well as formeer Mayor Wellington Webb, and numerousd state senators and represents, regionall mayors and county My wifeHelen Thorpe, who gives me great patience and is here as Welcome to all of you. We are gatherexd during a time ofunprecedented challenge. We are engulfex by the worst economic crisis of our Whole industries have been brought down oneaftefr another.
Homebuilding, mortgages, banking, real estated development, insurance, the list goes on. Unemployment is projectede to rise to levels not seen sincee theGreat Depression. Foreclosures not only on people’a homes, but also on their businesses, on their are growing by doubl e digitseach year. But in the midst of the global recessionb Denver remains a placefor optimism. We face our challenge s head on, and make tough Our City government must overcome tough timeas with the same determination that our businesse s andfamilies do. With overall revenues down 8 percenyin 2009, we are making tough decisions everu day to balance our budget.
Working with our cabineg members, our employees and the City Council we have alreadyucut $86 million from our general fund budgert for fiscal year 2009. To help do this we savedf a combined $16.8 million in overall personnel costs. And we savefd $22.2 million in operational costs, such as defermentt of equipment replacement; holding open vacant and reducing the cost of servicexand supplies. And you’ll notice the lightzs in the Webb building are turne d off alot earlier. It is not or even appropriate in a time ofdecreasing resources, for a City to hire more Indeed, there are fewer people workinhg for the City of Denver todag than there were in 2002.
But thankxs to the dedication of our Cityworkeres – and because of innovative new practices like 3-1-q – we are finding efficiencies and doing more with
The "worst economic crisis of our lifetime" is hurtinb families and businesses and forcingg deep cutsto Denver's spending Hickenlooper said in a speech delivered at the Greekj Theater in Civic Centef Park. "With overall revenues down 8 percenrtin 2009, we are making tougg decisions every day to balance our the mayor said. He that the city would have tocut $120 milliom from the city budget over the next 18 "Our city government must overcome tough timesd with the same determination that our businesses and families Hickenlooper said.
Despite hard the mayor said heremaind "completely committed to FasTracks," the Regionalo Transportation District's massive regional rail-transit project, whicyh is facing financial challenges. . . Here is the completse text of Hickenlooper's State of the City addressd as preparedfor delivery, provided by his office. Good We appreciate all of you being here so earlu inthe morning, but it is and it allows us to gatherd before you all head to work. For decades, the Greeok Theater – and the park that surrounds us – has been a centrakl civic gatheringplace … a place wherd our citizens come to share ideasd and commit to action.
We are honorerd to have with us Council Presidenrt Jeanne Robb and the entireCity Council, District Attorney Mitch Morrissey, and Clerkm and Recorder Stephanie O’Malley. We are also honored to have Gov. Bill state Treasurer Cary Kennedy, as well as formeer Mayor Wellington Webb, and numerousd state senators and represents, regionall mayors and county My wifeHelen Thorpe, who gives me great patience and is here as Welcome to all of you. We are gatherexd during a time ofunprecedented challenge. We are engulfex by the worst economic crisis of our Whole industries have been brought down oneaftefr another.
Homebuilding, mortgages, banking, real estated development, insurance, the list goes on. Unemployment is projectede to rise to levels not seen sincee theGreat Depression. Foreclosures not only on people’a homes, but also on their businesses, on their are growing by doubl e digitseach year. But in the midst of the global recessionb Denver remains a placefor optimism. We face our challenge s head on, and make tough Our City government must overcome tough timeas with the same determination that our businesse s andfamilies do. With overall revenues down 8 percenyin 2009, we are making tough decisions everu day to balance our budget.
Working with our cabineg members, our employees and the City Council we have alreadyucut $86 million from our general fund budgert for fiscal year 2009. To help do this we savedf a combined $16.8 million in overall personnel costs. And we savefd $22.2 million in operational costs, such as defermentt of equipment replacement; holding open vacant and reducing the cost of servicexand supplies. And you’ll notice the lightzs in the Webb building are turne d off alot earlier. It is not or even appropriate in a time ofdecreasing resources, for a City to hire more Indeed, there are fewer people workinhg for the City of Denver todag than there were in 2002.
But thankxs to the dedication of our Cityworkeres – and because of innovative new practices like 3-1-q – we are finding efficiencies and doing more with
Monday, September 10, 2012
Finance Committee backs UWM funding - The Business Journal of Milwaukee:
geqopimozaqyxyh.blogspot.com
The plan submitted by the university includesz funding for the School of Freshwater Sciencese and the School of Public Health indowntown Milwaukee, and the UWM College of Engineerinf campus in Wauwatosa. The full budget is expecteds to be considered by the state Assembly and Senatew over the nextseveral weeks. Accordinfg to legislators, UWM must raise $60 million in privatse funds to qualify for the state The funding packageincludes $123.4 millionb in state-issued bonds; $55.65 million in a bond issue to be paid back usingb university-generated revenue; and $1 million from the state’se building trust fund.
“This investment in the future will make the regiom and the state financially stronger for yearasto come,” said State Sen. Jim Sullivan (D-Wauwatosa). “Our childrenm and our grandchildren will benefitg from what we are doing to improve education and bolstethe sciences.”
The plan submitted by the university includesz funding for the School of Freshwater Sciencese and the School of Public Health indowntown Milwaukee, and the UWM College of Engineerinf campus in Wauwatosa. The full budget is expecteds to be considered by the state Assembly and Senatew over the nextseveral weeks. Accordinfg to legislators, UWM must raise $60 million in privatse funds to qualify for the state The funding packageincludes $123.4 millionb in state-issued bonds; $55.65 million in a bond issue to be paid back usingb university-generated revenue; and $1 million from the state’se building trust fund.
“This investment in the future will make the regiom and the state financially stronger for yearasto come,” said State Sen. Jim Sullivan (D-Wauwatosa). “Our childrenm and our grandchildren will benefitg from what we are doing to improve education and bolstethe sciences.”
Sunday, September 9, 2012
Aerosonic names Kevin J. Purcell its new chief financial officer - Tampa Bay Business Journal:
vuwodu.wordpress.com
Effective May 26, Purcell will receive an annual base salargyof $180,000, SEC filings said. He also has been grantedc stock options to purchase a totalof 25,000 sharex of Aerosonic common stock and will receivee four weeks of paid vacation each year. In Purcell is eligible to earn a performance bonus of up to 35 percent of his annualbase salary, in stock or other equity compensatiomn based on targets determined by the Beginning July 1, Purcell will be entitled to receive fringe benefits and employee benefi plans, filings said. Previously, Purcell was vice presiden t and chief financial officerat HRLY) and vice president of contracts and compliance at .
He also has workeed in the government contractor advisory services groupof . A certified public accountant and certified management Purcell received his bachelor of business administration degree in financiakl accounting at inNew Rochelle, N.Y., and holds an MBA from in Los a release said. Founded in 1953, Aerosoniv is a manufacturer of aviation productefor commercial, business and military aircraft. The company also has officesw in Clearwaterand Earlysville, Va.
Effective May 26, Purcell will receive an annual base salargyof $180,000, SEC filings said. He also has been grantedc stock options to purchase a totalof 25,000 sharex of Aerosonic common stock and will receivee four weeks of paid vacation each year. In Purcell is eligible to earn a performance bonus of up to 35 percent of his annualbase salary, in stock or other equity compensatiomn based on targets determined by the Beginning July 1, Purcell will be entitled to receive fringe benefits and employee benefi plans, filings said. Previously, Purcell was vice presiden t and chief financial officerat HRLY) and vice president of contracts and compliance at .
He also has workeed in the government contractor advisory services groupof . A certified public accountant and certified management Purcell received his bachelor of business administration degree in financiakl accounting at inNew Rochelle, N.Y., and holds an MBA from in Los a release said. Founded in 1953, Aerosoniv is a manufacturer of aviation productefor commercial, business and military aircraft. The company also has officesw in Clearwaterand Earlysville, Va.
Friday, September 7, 2012
School librarians to learn 'social media' through $1M grant - The Business Journal of Milwaukee:
zuloraxelewo.blogspot.com
The United States Institute of Museum and Librarty Services Laura Bush 21st Century Librariamn Program willaward $989,4965 that will be used to train 50 new schoolp library specialists for Wisconsin’e rural and high-need urban public schools. This was the only grantr awardedin Wisconsin. The consortium, which has its administrative officezat , includes library sciencer programs at University of Wisconsin campuses in Whitewater, Madison, Eau Claire, Superiot and Oshkosh. The grang will continue and expand a program that startef about 12 years ago to help teachersa from rural communities learn the latest technologies and qualif for licensesas librarians.
Stafv members of those schools oftehn find it difficult to spend blocks of time on university campuses so the consortium provides education opportunities on weekends and in the summe r throughoutthe state, said Anne who coordinates the five-campus program with fello faculty member Eileen Schroeder. “Each campus takes a couple of courses and we all agre on acommon curriculum,” Zarinnia said in a “What we want to do is to help the schoolk librarians be information specialists in a world wherse the whole field of information is changing.
” The Institutre of Museum and Library Servicese is the primary source of federal support for the nation’s 123,000 libraries and 17,500 museums.
The United States Institute of Museum and Librarty Services Laura Bush 21st Century Librariamn Program willaward $989,4965 that will be used to train 50 new schoolp library specialists for Wisconsin’e rural and high-need urban public schools. This was the only grantr awardedin Wisconsin. The consortium, which has its administrative officezat , includes library sciencer programs at University of Wisconsin campuses in Whitewater, Madison, Eau Claire, Superiot and Oshkosh. The grang will continue and expand a program that startef about 12 years ago to help teachersa from rural communities learn the latest technologies and qualif for licensesas librarians.
Stafv members of those schools oftehn find it difficult to spend blocks of time on university campuses so the consortium provides education opportunities on weekends and in the summe r throughoutthe state, said Anne who coordinates the five-campus program with fello faculty member Eileen Schroeder. “Each campus takes a couple of courses and we all agre on acommon curriculum,” Zarinnia said in a “What we want to do is to help the schoolk librarians be information specialists in a world wherse the whole field of information is changing.
” The Institutre of Museum and Library Servicese is the primary source of federal support for the nation’s 123,000 libraries and 17,500 museums.
Thursday, September 6, 2012
Friendwood receives $2 million for business park - Houston Business Journal:
ibitasony.wordpress.com
Funds will go towardd the development of the ClearwoodBusinessd Park, specifically for buildingh water and sewer infrastructure, according to the . The projectt is expected to create 100 jobs andgenerate $10 milliobn in private investment, according to estimates. “The federalp grant announced today supportsa locally-driven economic-recovery strategy that will help Friendswooc build a commercial center that will attract new industry and jobs following the economic adversity wroughf by Hurricane Ike,” Commerce Secretary Gary Locke said in a The government’s Economic Development Administration supports the economic development needs of distresse communities throughout the United States.
Its mission is to lead the federalp economic development agenda by promoting innovation and competitiveness and preparing Americann regions for growth and succesd in theworldwide economy.
Funds will go towardd the development of the ClearwoodBusinessd Park, specifically for buildingh water and sewer infrastructure, according to the . The projectt is expected to create 100 jobs andgenerate $10 milliobn in private investment, according to estimates. “The federalp grant announced today supportsa locally-driven economic-recovery strategy that will help Friendswooc build a commercial center that will attract new industry and jobs following the economic adversity wroughf by Hurricane Ike,” Commerce Secretary Gary Locke said in a The government’s Economic Development Administration supports the economic development needs of distresse communities throughout the United States.
Its mission is to lead the federalp economic development agenda by promoting innovation and competitiveness and preparing Americann regions for growth and succesd in theworldwide economy.
Wednesday, September 5, 2012
Clopay shares in U.S. housing slump - Dayton Business Journal:
caloloary.blogspot.com
Both Clopay businesses are headquarteredin Mason. N.Y.-based (NYSE: GFF) reported that Clopay garage door sales fell 13 percentto $128 million from $146 million in the same periods in 2006. Operating income slid 78 percentto $2.9 millio from $13.6 million. Griffon CEO Harveyt Blau told analyststhat he's concerned with the outloolk for market condition trends for as "key statistics are poor and in some cases gettinb worse." In specialty plastic films, salea grew by 4 percent to $106 milliom from $102 million, and operating incomwe jumped to $5.1 million versusa $39,000 in the 2006 period.
Blau said the improvement was primarilyt due to greater production efficiencies and reduce administrative andoperating expenses. The company expects sale s of a new elastid laminates for diapers and incontinence products to ramp up in he said. "We continue to make strides in diversifying our producrt line andcustomer base," he said in a reference to the large share of its plastic film revenues that come from (NYSE: PG). Overall, Griffon's sales fell 18 percent in the quarterto $396 millionh from $483 million. Net income declined by half to $9 or 29 cents per share, comparedr with $18.4 million, or 60 cents. Griffon last week announced the promotiom of FranklinSmith Jr.
to executive vice presiden t of Griffoneffective Nov. 30. Smith joine Clopay as chief financial officerin 1998. Eric executive vice president and CFO sincre he joined Griffonin 2005, is the company said. Patrick Alesia, Griffon's treasurere and an officer since 1979, will succeed Edelstein as CFO.
Both Clopay businesses are headquarteredin Mason. N.Y.-based (NYSE: GFF) reported that Clopay garage door sales fell 13 percentto $128 million from $146 million in the same periods in 2006. Operating income slid 78 percentto $2.9 millio from $13.6 million. Griffon CEO Harveyt Blau told analyststhat he's concerned with the outloolk for market condition trends for as "key statistics are poor and in some cases gettinb worse." In specialty plastic films, salea grew by 4 percent to $106 milliom from $102 million, and operating incomwe jumped to $5.1 million versusa $39,000 in the 2006 period.
Blau said the improvement was primarilyt due to greater production efficiencies and reduce administrative andoperating expenses. The company expects sale s of a new elastid laminates for diapers and incontinence products to ramp up in he said. "We continue to make strides in diversifying our producrt line andcustomer base," he said in a reference to the large share of its plastic film revenues that come from (NYSE: PG). Overall, Griffon's sales fell 18 percent in the quarterto $396 millionh from $483 million. Net income declined by half to $9 or 29 cents per share, comparedr with $18.4 million, or 60 cents. Griffon last week announced the promotiom of FranklinSmith Jr.
to executive vice presiden t of Griffoneffective Nov. 30. Smith joine Clopay as chief financial officerin 1998. Eric executive vice president and CFO sincre he joined Griffonin 2005, is the company said. Patrick Alesia, Griffon's treasurere and an officer since 1979, will succeed Edelstein as CFO.
Monday, September 3, 2012
State unveils Web tool for surgery comparison shoppers - Silicon Valley / San Jose Business Journal:
ignatiywulyxura.blogspot.com
A heart bypass, for example, costs $149,219 at Sutter Memorialo and $298,257 at the . A C-Sectionm costs $22,710 at Mercy General and $31,093 at Sutter Memorial. The databasr ranges from gallbladder surgery to heartvalve replacement. It also includez the total number of procedures performed atthe hospital, charge per day and averagew length of stay. The prices are not what the typicaphealth plan, Medicare or Medi-Cal but they do provide the average stickefr price charged to patients without insurance. “As consumersd are presented with more decisions about their health care the value of cost and price informatiojis substantial,” Dr.
David Carlisle, director of the Officed of Statewide Health Planningfand Development, said in a press release. The agenchy already rolled out an Internet tool that collects anddisplays hospitals’ free and discount paymentt policies. Both are available at oshpd.ca.gov. One big hole in the new databas e is that it does not report pricingv informationfor hospitals. A healtg plan and health system, Kaiser does not bill patient s directly. Information about the number of procedures and average lengthb of stay is reported forKaiser however.
A heart bypass, for example, costs $149,219 at Sutter Memorialo and $298,257 at the . A C-Sectionm costs $22,710 at Mercy General and $31,093 at Sutter Memorial. The databasr ranges from gallbladder surgery to heartvalve replacement. It also includez the total number of procedures performed atthe hospital, charge per day and averagew length of stay. The prices are not what the typicaphealth plan, Medicare or Medi-Cal but they do provide the average stickefr price charged to patients without insurance. “As consumersd are presented with more decisions about their health care the value of cost and price informatiojis substantial,” Dr.
David Carlisle, director of the Officed of Statewide Health Planningfand Development, said in a press release. The agenchy already rolled out an Internet tool that collects anddisplays hospitals’ free and discount paymentt policies. Both are available at oshpd.ca.gov. One big hole in the new databas e is that it does not report pricingv informationfor hospitals. A healtg plan and health system, Kaiser does not bill patient s directly. Information about the number of procedures and average lengthb of stay is reported forKaiser however.
Sunday, September 2, 2012
PSC staff gives tepid support for Iberdrola's bid for Energy East - The Business Review (Albany):
oryucyjofec1482.blogspot.com
million bid to buy , provided each wind farm is approve d by the state ona case-by-case basis. PSC staffc still opposes Iberdrola owning wind farms or any powed plants in the state as a condition ofthe But, they say, if the commission approvexs the deal, the Spanish energy conglomerate shouldr have each wind power project reviewed individually, accordingg to a June 26 briefr filed on behalf of PSC staff. The briefr was in response to an administrativelaw judge's June 16 non-bindinb ruling that Iberdrola shoulds not be permitted to build wind farms in the company'x service territories.
It is unlikely the PSC's five commissioners will make a decisioh at their July 16 The deadline for all parties to respond to the June 26 filinges is Thursday and their revieww will take senior staff analystsseveral weeks, PSC spokesmanj James Denn said. It is also possible the parties could settlre before the commission votes onthe matter, Denn The company says it will invest at leasyt $2 billion in wind-power generation in the statse if it is permitted to acquire Energy East.
Should the mergerr be approved, PSC staff want measures in placse that would require the company to follow through on its The staff has concernsx that there are no guarantees that the investmentsewould occur, the filing stated. As Iberdrolw builds the plants, the $201 million dedicated to customer benefits couldbe reduced. Organizationz have come out on both sides ofthe argument. The New York Consumer Protection Board and state Department of Environmental Conservationh supportthe acquisition. says Iberdrola, which is the second-largesyt wind energy operator inthe country, should not be able to producee and provide power.
The state prohibits "vertical market or the ability for power providers to also operate aspower generators. The bid is supported by key membersz of thestate Legislature, as well as U.S. Senatore Charles Schumer, D-NY, and Gov. David Paterson.
million bid to buy , provided each wind farm is approve d by the state ona case-by-case basis. PSC staffc still opposes Iberdrola owning wind farms or any powed plants in the state as a condition ofthe But, they say, if the commission approvexs the deal, the Spanish energy conglomerate shouldr have each wind power project reviewed individually, accordingg to a June 26 briefr filed on behalf of PSC staff. The briefr was in response to an administrativelaw judge's June 16 non-bindinb ruling that Iberdrola shoulds not be permitted to build wind farms in the company'x service territories.
It is unlikely the PSC's five commissioners will make a decisioh at their July 16 The deadline for all parties to respond to the June 26 filinges is Thursday and their revieww will take senior staff analystsseveral weeks, PSC spokesmanj James Denn said. It is also possible the parties could settlre before the commission votes onthe matter, Denn The company says it will invest at leasyt $2 billion in wind-power generation in the statse if it is permitted to acquire Energy East.
Should the mergerr be approved, PSC staff want measures in placse that would require the company to follow through on its The staff has concernsx that there are no guarantees that the investmentsewould occur, the filing stated. As Iberdrolw builds the plants, the $201 million dedicated to customer benefits couldbe reduced. Organizationz have come out on both sides ofthe argument. The New York Consumer Protection Board and state Department of Environmental Conservationh supportthe acquisition. says Iberdrola, which is the second-largesyt wind energy operator inthe country, should not be able to producee and provide power.
The state prohibits "vertical market or the ability for power providers to also operate aspower generators. The bid is supported by key membersz of thestate Legislature, as well as U.S. Senatore Charles Schumer, D-NY, and Gov. David Paterson.
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