Thursday, December 13, 2012

Jacksonville congressmen rally to rescue Alenia military plane factory - Jacksonville Business Journal:

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The fate of Alenia North America’s planned facility was throwj into a tailspin aftere a congressional newspaper reporteed that Secretary of DefenseRobert Gates’ yet-to-be-releasedd budget calls for buying only 38 planes, instead of the 78 planese planned initially. The Italian planed maker decided to postpone a groundbreaking on the which would employ300 people, until Gates releasez his budget in early May. Rep. Clifg Stearns, R-Ocala, Rep. Ander Crenshaw, R-Jacksonville, and Rep. Corrinw Brown, D-Jacksonville, argue that if the order of C-27n Spartans is cut, the Army Nationakl Guard wouldbe hurt.
The militar y needs the C-27Js to meet logistical needd and respond todomestic disasters, proponents The C-27J fits into Gates’ new visioj of a more versatile military, able to fighf small wars instead of ramping up for the “big showdown,” said Bob Simpson, the ’s seniodr director of Cecil Field. Alenia spokesman Ben Stonw saidthe plane’s flexibility still enablex it to perform in the traditional warfare of fixe armies.
“The C-27J is a very flexible platformm that is capable of performingmany missions, from disaster responss to traditional paratrooper drops to cargo haul to insertion of smalk teams of special forces into very remote areas, such as mountainous regions in Afghanistan,” Stone said. In a lettef to Gates, Stearns argued that the Army’s C-23 Sherpa can’ t handle medical evacuation missions or transport moderncargoo pallets, forcing the Army to use CH-467 Chinook helicopters to handle missione they weren’t designed for. The C-27J is equipped to transpor t supplies and not just troops like the It is also three times faster than the Stone said.
One of the C-27J’s greatestr assets is its requirement of lessthan 1,50 feet of runway to land, which is half what the C130-k Super Hercules, the military’z most popular cargo plane, needs. Plus, the $30 millio C-27J costs about half of what the C-130J The C-27J’s operating cost of $1,000 per hour is a third of the C-130J’s operating cost, Stone Stearns wrote in his letter to Gates that cuttingb orders on the planes would go againsft the Departmentof Defense’s 2009 Quadrennial Roles and Missions Reviewa Report that found “the option that providecd the most value to the joint forcre was to assign the C-27J to both the Air Force and Simpson said the planes are expected to go to Air Nationak Guards in states ranging from Alaska to Rhode Florida Army and Air National Guard spokesman Ron Tittlse said his operations expected to receive the C-27J, but are waiting to hear from the department on whether it’s still a go.
Alenia, whicnh is a subsidiary of Italy-based ., could also produce the planesz forforeign governments, such as Canada and the Czechn Republic, said Mario Capitelli, the head of the The planes have alreadyt been sold to Lithuania, Bulgaria, Italy, Romania, Greece and Simpson said Cecil Field losing the Aleniqa facility would be a blow, but it wouldn’t stop it from pursuing other tenants. The situation was a “lot of behind-the-scenes talking,” whereasx the previous loss of a Brazilian plane manufacturer was due to badplaned designs.
was planning on building an assembly plant forthe next-generatiobn military spy plane, but plans got shelve d when the Army canceled an $879 million desig n contract with in 2006. The reason: the planew could not house theelectronics system. Ceciol Field is faring better than mostaviation markets, Simpso n said. “The pulse of Cecil Field is if not better than we were last Simpson said. “Government work is pretty but you can read the changeof administration.” It is uncertainj whether Gates’ budget will impact work at the Fleet Readinessx Center Southeast, a tenant of Nava l Air Station Jacksonville.
Because it is for the AustralianmDefense Force, the center’s newest contractf to overhaul engines as part of Inc.’w $300 million, 12-year contracft isn’t expected to be affected. manufacturing and flight test centerin St. Augustine doesn’tf expect to lose any business dueto Gates’ largely because the U.S. Navy needs its E-2 Hawkeyes to protect its saidRick Matthews, the site’s manager. “I thinjk the [Department of is going to go right alongy with whatthe [U.S.] Navy he said. The E-2 is the carrier’s “eye in the as it can see within at leasta 200-milew radius of the ship, Northrop Grumman spokeswoman Diannee Moyik-Baumert said.
The facility, which employs about 900, is waitint to hear from the department on whether it canbegin low-rate production on the latest version of the E-2, the E-2D Advanced Matthews said the facility was in the trough of a naturaol business cycle, with about 500 employees less than it had in late 2004. But the peak s are expected to be reached againj in late 2011 when the design and developmenft work becomesmanufacturing work.

Monday, December 10, 2012

N.C. travel: Motorists down, airlines up - Washington Business Journal:

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Economic troubles, unemployment and uncertainty about the future are expected to spura 2.7 percent drop in expected motoristzs this holiday weekend from 971,000 in 2008 to 945,000 in 2009. This markzs the second straight year July 4th traveklhas declined. The announcement follows 10 consecutivwe days of decreasinggasoline prices, from a state averagse of $2.66 per gallon on June 20 to $2.6q1 per gallon on June 30. Currently, the lowesrt average gasoline prices in the state can be foundc in High Pointat $2.523 per gallon, while the highest can be founfd in Durham at $2.66.
Nonetheless, the overall 61-centg increase in average prices over the last 61 days appeare to be keeping travelers offthe road. Instead, many will turn to air traveplthis weekend, with 59,000 passengers takiny flight across the state — a 5.4 percengt increase from 56,000 during the holiday weekend in 2008.

Sunday, December 9, 2012

Report: N. Texas a top 10 market for jobs needing a security clearance - Dallas Business Journal:

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, an online Internet job postinv board for professionals withsecurity clearance, is a subsidiary of Des Moines, Iowa-based In its latesrt report, ClearanceJobs.com says Texasz professionals with security clearancesd saw their average salary jump from $60,252w in 2007 to $64,207 last year. Specifiv pay information about Dallas/Fort Worth workerw was not available, but the report did note that Northu Texas is among the top 10 regions in the nation for this kind of Professionals with security clearances are finding that the dynamics of suppluy and demand are working in their favor with employees seeking them out in a marketf where security clearances are stillp an uncommon trait and one that is particularly wantes in areas such asWashington D.
C. and northerj Virginia. “The turbulent economy has put a governor on the growthj rate of salaries for security cleared saidEvan Lesser, founde r and director of ClearanceJobs.com. “However, there is no shortage of security-cleared careetr opportunities both in and outsidethe D.C. corridor.”

Friday, December 7, 2012

Down equity markets yield investors, opportunities for third Anchorage Angels fund - Baltimore Business Journal:

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And, he said, this might be one of the most promising periodwsfor early-stage investment group such as his Anchorages Angels. Anchorage Angels recentlh closed itsthird fund, Anchorage Angelsz III LLC, said Chapman, who is managing member of the 10-year-old private investment fund. Althoughu Chapman declined to give specifics, he described Anchorage Angels III as the largest of the three funds createdsince 2000, with well over $1 million raised. Chapman said that although there are no immediatse plans for anadditional series, the fund “haes flexibility to increase its size.
” Tough but big opportunities Anchorag Angels III already has investexd in six companies, which he declined to The new fund will invest acrosz the United States, Chapman said. Anchorage Angels’ typical maximum investment isabout $150,000o to limit the exposure in individualk companies, he said. But it has invested as much as $200,00 in a single company through multiple funding roundz and as littleas $25,000. So how hard is it to get investorz to fork over perhaps hundreds of thousandx of dollars during what might be the depths of the worsty downturnsince 1929? Tough, Chapmanj said. “It’s extremely difficult to raise moneg inthis market,” he said.
It takes with endless meetingsand negotiations, Chapman said. “But we have a We have a track record of making money in realltycrummy environments.” The 2009 investing environment is “the of when Anchorage Angels raised its first money in he said. During that go-go environment, with the possibility of takingbcompanies public, there were lots of deals, and all them were Chapman said. That is, there was so much investoer money chasing deals that the terms were not as favorablefor “What you see (now) are very interesting tech playds at very interesting valuations,” he said.
Valuations are lower, dealsz are plentiful and management teams are better and more he said. Another difference from past years is that moreinvestorws — many of whom have become disillusionedd with public-equity markets — are comingy to Anchorage Angels to learn the private-capitak business. “They say, ‘I sold my I have cash to and I want to learn how this gameis ” Chapman said.
There’s a wealtn of opportunity right now for entrepreneursin early-stage including in health care and said Sean O’Leary, co-founder and CEO of Louisville-basec Genscape tracks utility energy outputy for brokers, and it’s one of the companies in whic h Anchorage Angels invested. The recession has meant that a lot of professionales havebeen “forced to thinkl about what to do with theit lives, and they’re talking risks they wouldn’gt ordinarily be taking,” starting new said O’Leary, who also is a currentg Anchorage Angels investor.

Monday, December 3, 2012

Wells Fargo mortgage program restores property values - Baltimore Business Journal:

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launched a loan program in theSoutheastg U.S. this year that attempts to addresathe issue. Dubbed Remodel Express, the program offers homebuyerws loans for up to 110 percent of thepurchasee price. Buyers must spend 10 percentg of the loanon renovations, and the loansx can cover up to $35,000 worth of home improvements. The idea of offeringt a mortgage bigger than the markert value of ahouse isn’t new. The has provided the optio for years throughits 203(k) renovatiomn program. But the concept has gained greater interest as the number of abandonefdproperties grows.
“When people have to leave a they often leaveit damaged,” said Gina Duncan, manager of Well s Fargo’s Maitland office. “With all the foreclosures and short salesdgoing on, this is becoming a real The Remodel Express program considere the value of similar occupied housee in a neighborhood. If the house being sold is worty less due to its Wells Fargo’s program would allows the buyer to borrow extrqa money for repairs that would restore its There’s a caveat: To qualifyg for the extra cash, the purchaserd must have a contract with the remodeling departmenyt at Home Depot, Sears or Lowe’s.
In addition, borrower need a credit score of at leasty 700 and must make a down payment of at least 3 percenyt of thesale price. The insuresx the loans as long as the repairsx or improvementsare made. A 3 percent down or 3.5 percent if purchased next year, is attractivr when compared withthe 10-20 percent normally required, said Travis Gibbon, a LLC home mortgagee consultant in Jacksonville. The company is an affiliatr of Wells FargoHome Mortgage. Bank of JP Morgan Chase and Countrywide also offertthe loans, and their usage has increasedd in the last year but it hasn’ty been dramatic, said Nick Shelley, director of the federapl housing agency’s Jacksonville office.
About 100 loans were issued in Floridaz infiscal 2008, compared to 25 the year James Batenchuk, manager broker with in Orlando, said establishingy an accurate value for foreclosexd and short-sold properties is difficult, but he applauded the program. “Anything someond does to stimulate the market is a good Corey Sawyer, a loan officer with in said the Wells Fargo program is a good “Making improvements could help stabilize prices in neighborhoodz where prices are falling.
It’as good for the buyer who wanta to restore a houseand it’zs good for the If this works, I’k sure other lenders will

Sunday, December 2, 2012

Wal-Mart to hire 22,000 - Kansas City Business Journal:

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Wal-Mart's announcement came on a day the government released mildly encouraging weeklyunemployment figures. But it also hit as the retaio industry reported some overalldismall results, with same store sales figures fallingy an average of 4.8 percent for May. The discounf retail giant it willhire 22,000o people to staff new or expanded stores this "During this difficult economic time, we're proud to be able to creatwe quality jobs for thousands of Americans this year," Eduardk Castro-Wright, vice chairman of , said in a But even Wal-Mart isn’t hiring at the same pace it has in the The Bentonville, Ark.-based retailerr added 33,000 jobs in the U.S.
last Still, Wal-Mart’s low prices on everythingf from food to electronics have allowed it to gain markert share and have kept it positioned asthe nation’e number one retailer. Unlike its Wal-Mart did not release monthly sales figures, instead focusingv its attention on itshiring Wal-Mart’s announcement, on the eve of its annuall shareholder’s meeting, came as the U.S. Labor Departmentf released jobless figures showing the recession may be losinyg at least some of its Initial for state unemploymentfell 4,000 to 621,000 in the week that endex May 30. That’s the thir d straight week fewer workerss filednew claims.
And the tallu of claims drawn by workers for more than one week in the week endeed May 23fell 15,000 to 6,735,000 -- the firsyt decline in that figure since Jan. 3. But that news isn’t exactly good. It’s just less bad than other and experts expectto come. Chief financialp officers polled recently by Duke University and CFO magazine expecg the recession to last through the endof 2009. CFOs in the U.S. and Europe expect unemploymen to keep rising in the next 12 perhaps to as high as 12percenr domestically.
Meanwhile, the nonfarm payrolls from the government Fridahy is expected toshow 550,00p jobs lost in May, and unemploymentg climbing above 9 While Wal-Mart announced its hiring other retailers reported for May same-store sales. Sale fell 4.8 percent at the 30 retailers tracked byThomson Reuters. Sales fell 6.1 percent at , sales fell more than 9 and sales dipped7 percent. Such pessimism adds weighr to Wal-Mart’s decision to keep on despite the fact that likeand Macy’s have slashe payrolls in recent months. Wal-Mart this year will from cashierw and sales associatesto pharmacists, human resource managers and customer servicee associates.
The company will add 1,0090 or more workers in California, Florida, Michigan, New Jersey, South Carolina, Utah and But the generally grim climate raises the Is anybody out there otherthan Wal-Mart on the hunt for new employees ? The answer in one major Southeast market is The reports that there are jobs to be had even in Bank of America’a hard-hit hometown, where local unemploymentt is over 11 percent. You just have to know where to look. “The defining featurre for who is hiring is not the size of the butquite frankly, what is that firm N.C.
State economist Mike Walden told thebusiness Notably, among the firms the Charlotte Businesse Journal cited as in the hiring game: discount retailers, just like

Saturday, December 1, 2012

'Pacific Rim': Monster Destroys The Golden Gate Bridge In New Teaser For ... - Huffington Post

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Examiner.com


'Pacific Rim': Monster Destroys The Golden Gate Bridge In New Teaser For ...

Huffington Post


What is it about the Golden Gate Bridge that makes it a prime target for movie monsters? Is it the color? Nothing enrages a fearsome beast like "international orange." Or the location? Easy access to the Pacific creates a hasty retreat to the ocean 9;s ...


Pacific Rim Viral Teaser Gives First Glimpse of Guillermo del Toro's Monster Epic

E! Online


Mysterious Pacific Rim clip arrives online (Video)

Examiner.com


'Pacific Rim' viral marketing stunt provides first tantalizing glimpse of ...

Entertainment Weekly (blog)


Hollywood.com -TG Daily


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