amesit.wordpress.com
1st , with assets of $126 million, managed the highef profit, $219,000 in 2008 comparee with $120,000 in 2007. At the otheer end of the spectrum, , with $234 milliojn in assets, posted losses of $3.9 million in 2008 and $2.3 millio in 2007. , with $130 million in had losses of $3 millionh in 2008 and $848,000 in 2007. Although the sevenj start-up banks, called de novos in banking are much smaller than theaverage St. Louis they have been battered by thesame trends, particularl y the collapse of the real estate an area in which most did significantg lending. Still, their bad loan numbers are modest comparexd withlarger banks.
In some cases, they could represengt one bad home loan or a Keepin mind, too, that bankes that launched four and five years ago made most of their loans in what was a go-g time in lending, resulting in more problekm loans now. “A larger percentage of the loans were originatede when credit standardswere looser, versuse banks that have been arounds many years, which would have a smaller percentage of their loans in that said Jim Wagner, chief executive of & which launched in 2008.
Both Champion and WestBridge have experiencefd considerable public turmoil in the last Kirk Briden, a Champion founder, resignee as president and chief executive last fall, and the bank received a $3 millioj infusion of new capital from an unidentified It had $4.2 million in bad loans, called net in 2008, compared with none in 2007. At the sharply criticized management practices ina cease-and-desisyt order, which was made public in February, though it had been in the worksz for months. In December, Rick a former executive at Mark Twain and MissourjState banks, was recruited as a consultant and a mont h later replaced Scott Schmid, a WestBridge as president and chieft executive.
Schmid remains as executive vice president. WestBridge’sa net charge-offs jumped to $3.4 million in 2008 from zero in 2007. , with assets of $549 million, posted a loss of $2.4 million in 2008, comparedc with a profit of $2.5 million in 2007. , with assetsa of $146 million, had a loss of $773,00p in 2008, compared with a profit of $235,00p0 in 2007. St. Louis Bank’s net charge-off s increased to $4.1 million from $1.4 million a year Triad’s net charge-offs increased to $314,000 in 2008 from zero in 2007. Triad’sa charge-offs were the result of loans to residentialdevelopefr , said Jim Regna, the bank’s chief executive.
“In we aggressively built up our provision for loan loss in response to our concentrationb of residentialdevelopment loans, which hurte profitability in the short run,” he , with $131 million in recorded a profit of $149,000, down from $442,000 in 2007. Its net charge-offx increased to $503,000 in 2008 from zero in 2007. Superiord Bank, with $57 milliohn in assets, showed a profit of $27,000, compared with a profi of $88,000 in 2007. Its net charge-offs declined to $32,00 from $88,000 in 2007.
“There is too much focus in this markey onasset size,” said Dan Jones, chairman of Fortune “Our focus is on making As for his lower profit in 2008, he “It’s nowhere near where we wanted to 1st Advantage, the one de novo that increasee profitability, had net charge-offs of $94,000. A year it recorded a negative $132,000 in net charge-offs, meaning that it recoverec more bad loans than itwrotr off, always good news. Two of the sevemn banks took money under thefederal government’sd Troubled Asset Relief Program: Triad with $3.7 million and Fortune with $3.1 Both were on the fence about the additionalo capital before accepting it.
Like most bankers, leaders at those bankas were leery about taking the government on as a Jonesat Fortune, said he remains undecidesd whether to use it, but took the money becausew he faced a “If we don’t use it, we’ll give it he said.
Thursday, June 30, 2011
Tuesday, June 28, 2011
Ben Hansbrough signs overseas contract - CBSSports.com (blog)
inofiquxi.wordpress.com
WSBT-TV | Ben Hansbrough signs overseas contract CBSSports.com (blog) Hansbrough is bypassing workouts and tryouts with NBA teams, instead opting to sign a contract with Germany's FC Bayern Muenchen, which is based in Munich. The Notre Dame standout who was the 2010-11 Big East Player of the Year (as the seasons pass us ... Notre Dame men's basketb » |
Sunday, June 26, 2011
Rex
cicugaha.wordpress.com
million in its investment portfolio during the fiscapl year that endedJune 30, 2008. The health-car e system’s investment portfolio fell in valusfrom $144.6 million, to $138.7 million, during the fiscak year, according to an audit filed with the , which can issue tax-exempt bonds on behalt of a hospital. Rex officials declined to provide data on how the portfolil has performedsince June. Bernadette Spong, Rex’s chiec financial officer, says the hospital is more than capable of coveriny any expansion costs with its operations the hospital posted operating incomweof $14 million for the She is optimistic that the economy will rebound beforse construction begins on the urgent care centers, thougu hospital officials have said they will take a close look at the economgy before breaking ground in Holly Springs.
Spongf says Rex has spent $30 million to $35 million annuallyu on capital expenditures and will continue todo so. Chris Taylor, assistanyt secretary of the MedicalCare Commission, says the decline in Rex’s investmentr portfolio should not have a severs impact on the system’s ability to borrow money. He notes that most hospitals in the stats are in thesame position. However, the cost for thos e funds hasgone up. Long-term rates have increased from about5 percent, to about 7 percent. Rex has filecd for state approval through the Certificate ofNeed system, which seekws to keep medical costs down by regulating capita l expenditures, to build a $6.
8 million urgentt care center in the Panther Creek area of westernh Wake County. Also, Rex officials have begun interviewing architects and developers fora $5.4 million urgentt care center in Holly Springs that already has received state No timeline has been set for the start of constructioh there. Rex also is in the runningt for41 acute-care beds identified as needed in the Triangle by the State Medical Facilities Plan, which determines whicg facilities should be built in the near future. A decision on which health-care provider gets to build thosre highly coveted beds will be made laterthis month.
The declinwe in Rex’s investment portfolio is not a Hospitals acrossthe state, includingf and , which, like Rex, is ownesd by UNC Health Care, experiencesd losses in their investment portfolios in fiscal 2008. A survehy of 557 hospitals by the found that the investment portfolio s of those hospitals earned acombined $400 millionb during the third quarter of calendar year 2007 but lost $830 millioj in the third quarter of calendare year 2008. Don Dalton, a hospital association spokesman, says investmenft losses have prompted many hospitals to adjusyt their capital andoperating plans.
Locally, WakeMed officials have said they are delayingy plans for a standalone emergency department in And officials at UNC Hospitals say they are reviewing theier capital plans on aregulad basis, though none have been delayed or
million in its investment portfolio during the fiscapl year that endedJune 30, 2008. The health-car e system’s investment portfolio fell in valusfrom $144.6 million, to $138.7 million, during the fiscak year, according to an audit filed with the , which can issue tax-exempt bonds on behalt of a hospital. Rex officials declined to provide data on how the portfolil has performedsince June. Bernadette Spong, Rex’s chiec financial officer, says the hospital is more than capable of coveriny any expansion costs with its operations the hospital posted operating incomweof $14 million for the She is optimistic that the economy will rebound beforse construction begins on the urgent care centers, thougu hospital officials have said they will take a close look at the economgy before breaking ground in Holly Springs.
Spongf says Rex has spent $30 million to $35 million annuallyu on capital expenditures and will continue todo so. Chris Taylor, assistanyt secretary of the MedicalCare Commission, says the decline in Rex’s investmentr portfolio should not have a severs impact on the system’s ability to borrow money. He notes that most hospitals in the stats are in thesame position. However, the cost for thos e funds hasgone up. Long-term rates have increased from about5 percent, to about 7 percent. Rex has filecd for state approval through the Certificate ofNeed system, which seekws to keep medical costs down by regulating capita l expenditures, to build a $6.
8 million urgentt care center in the Panther Creek area of westernh Wake County. Also, Rex officials have begun interviewing architects and developers fora $5.4 million urgentt care center in Holly Springs that already has received state No timeline has been set for the start of constructioh there. Rex also is in the runningt for41 acute-care beds identified as needed in the Triangle by the State Medical Facilities Plan, which determines whicg facilities should be built in the near future. A decision on which health-care provider gets to build thosre highly coveted beds will be made laterthis month.
The declinwe in Rex’s investment portfolio is not a Hospitals acrossthe state, includingf and , which, like Rex, is ownesd by UNC Health Care, experiencesd losses in their investment portfolios in fiscal 2008. A survehy of 557 hospitals by the found that the investment portfolio s of those hospitals earned acombined $400 millionb during the third quarter of calendar year 2007 but lost $830 millioj in the third quarter of calendare year 2008. Don Dalton, a hospital association spokesman, says investmenft losses have prompted many hospitals to adjusyt their capital andoperating plans.
Locally, WakeMed officials have said they are delayingy plans for a standalone emergency department in And officials at UNC Hospitals say they are reviewing theier capital plans on aregulad basis, though none have been delayed or
Thursday, June 23, 2011
Hearing set to certify Chinese drywall class - Pacific Business News (Honolulu):
http://aircuz.org/5sfrfullrehabsleasedcashflowhighquality.php
The plaintiffs’ homes were constructed with what they allege was defectivreChinese drywall. , built the homes. The judgre also set a possible tria date forSeptember 2010. Lawyers working on the case say it may be the firsyt Chinese drywall case set fortrial High-sulfur Chinese drywall is believed responsible for strong odors, meta corrosion and health complaintes in thousands of homes in Florida and the Federal class action suits were combineed recently in New Orleans. , The Blumstein Law Firm and alleger inthe Miami-Dade suit that the defective drywall emits toxins, including carbon carbonyl sulfide and hydrogen sulfide.
They believs drywall manufactured in China was used in as manyas 60,00 0 Florida homes and as many as 100,0000 in the U.S. durinf the building boom between 2004and 2007. The statre case was filed in February on behalf of Jasobn and Melissa Harrell and other homeownersx who purchased defective In apress release, the firms said the defective drywalll was installed in the Harrell’s home by the builder, Southu Kendall Construction Corp., and supplied by In an intervieaw in January, South Kendall Construction’s president told the Business Journal he was investigating the but he has not responded to additionall requests for comment.
Repeated attempts to speako to officials at Banner Supply have notbeen successful.
The plaintiffs’ homes were constructed with what they allege was defectivreChinese drywall. , built the homes. The judgre also set a possible tria date forSeptember 2010. Lawyers working on the case say it may be the firsyt Chinese drywall case set fortrial High-sulfur Chinese drywall is believed responsible for strong odors, meta corrosion and health complaintes in thousands of homes in Florida and the Federal class action suits were combineed recently in New Orleans. , The Blumstein Law Firm and alleger inthe Miami-Dade suit that the defective drywall emits toxins, including carbon carbonyl sulfide and hydrogen sulfide.
They believs drywall manufactured in China was used in as manyas 60,00 0 Florida homes and as many as 100,0000 in the U.S. durinf the building boom between 2004and 2007. The statre case was filed in February on behalf of Jasobn and Melissa Harrell and other homeownersx who purchased defective In apress release, the firms said the defective drywalll was installed in the Harrell’s home by the builder, Southu Kendall Construction Corp., and supplied by In an intervieaw in January, South Kendall Construction’s president told the Business Journal he was investigating the but he has not responded to additionall requests for comment.
Repeated attempts to speako to officials at Banner Supply have notbeen successful.
Tuesday, June 21, 2011
Home unsold inventory index shrinks to 4.2 months in May - Silicon Valley / San Jose Business Journal:
omagyvoham.wordpress.com
months for existing, single-family detached homes in May, trimmed from 8.7 monthsw for the same period ayear ago. The mediamn number of days it took to sella single-familyt home was 53.5 days in May, compared with 49.2 days for the same periodr a year ago. Home sales increased 35.2 percent in May in California compared with the same period ayear ago, while the mediaj price of an existinv home declined 30.4 percent, the California Association of Realtora reported Thursday. The median price of an existing, single-familg detached home in California during May 2009was $267,570, a 30.4 percent decrease from the revised $384,540 median for a year ago, CAR The May 2009 median price rose 4.
2 percenf compared with April’s $256,7000 median price. “The statewide medianb price rose for the third consecutivwe monthin May, posting the largest monthly increase on recordc for the month of May, accordint to statistics dating back to 1979,” said CAR Chiefv Economist Leslie Appleton-Young. “Nearly all regions in the state reportedpositive month-to-monthb changes in median price. Statewide, the 10 citiese with the highest median home prices in Californiq during May2009 were: Los Altos, $1.48 million; Palo $1.
4 million; Cupertino, $965,000; Santa $870,750; Danville, $785,500; Los Gatos, $769,500; Newporgt Beach, $767,500; Santa Monica, $740,000; Arcadia, $700,000; and Campbell, The cities with the greatest medianh home price increases in May 2009 comparerd with the same period a year ago were: 29.7 percent; Auburn, 8.3 percent; 7.5 percent; Atascadero, 6.3 percent; Cypress, 5.0 Palo Alto, 4.9 percent; Campbell, 4.7 Walnut, 2.3 percent; and Torrance, 0.
4
months for existing, single-family detached homes in May, trimmed from 8.7 monthsw for the same period ayear ago. The mediamn number of days it took to sella single-familyt home was 53.5 days in May, compared with 49.2 days for the same periodr a year ago. Home sales increased 35.2 percent in May in California compared with the same period ayear ago, while the mediaj price of an existinv home declined 30.4 percent, the California Association of Realtora reported Thursday. The median price of an existing, single-familg detached home in California during May 2009was $267,570, a 30.4 percent decrease from the revised $384,540 median for a year ago, CAR The May 2009 median price rose 4.
2 percenf compared with April’s $256,7000 median price. “The statewide medianb price rose for the third consecutivwe monthin May, posting the largest monthly increase on recordc for the month of May, accordint to statistics dating back to 1979,” said CAR Chiefv Economist Leslie Appleton-Young. “Nearly all regions in the state reportedpositive month-to-monthb changes in median price. Statewide, the 10 citiese with the highest median home prices in Californiq during May2009 were: Los Altos, $1.48 million; Palo $1.
4 million; Cupertino, $965,000; Santa $870,750; Danville, $785,500; Los Gatos, $769,500; Newporgt Beach, $767,500; Santa Monica, $740,000; Arcadia, $700,000; and Campbell, The cities with the greatest medianh home price increases in May 2009 comparerd with the same period a year ago were: 29.7 percent; Auburn, 8.3 percent; 7.5 percent; Atascadero, 6.3 percent; Cypress, 5.0 Palo Alto, 4.9 percent; Campbell, 4.7 Walnut, 2.3 percent; and Torrance, 0.
4
Sunday, June 19, 2011
Lee
adamovaichive.blogspot.com
Mayor Karen Messerli broke a tie vote on the whichthe Carpenters’ District Council of Kansad City and Vicinity has opposed aggressively, largel due to RED’s use of out-of-town, nonuniomn labor on the project. Dan Lowe, a managing partner of RED, recently said the carpenters were misleadingthe “They’re twisting it to make it look like it’xs additional money and a bailout, above and beyonr what the city already committed to,” he “That is a lie.” The committed aid Lowe referred to was the $52 milliom in tax increment financing and other bondsx that the council approved for the 550,000-square-foogt shopping center before its 2007 groundbreaking.
RED’s developmen agreement with Lee’s Summit authorized RED to seek city issuanceeof $32 million in TIF bonda to be repaid by taxes generated by Summigt Fair. But the agreement required that 75 percenr of the project be leasec before sucha request, and RED has leaseds about 69 percent. Therefore, Lowe said, RED requestefd that the city issueonly $13 million worth of bondd at this time to repay RED for monety it borrowed privately to finance off-site streetf improvements required as part of the project. City officiala deemed that reasonable, Lowe said. But challengez with issuing bonds forthe yet-to-opem shopping center sparked a city plan to loan RED $9 millioj instead.
That’s the same amount the $13 million bond issue woulf have generatedafter costs. The loan is to be paid off by TIF revenued generated by Summit Fair and byTIF bonds, if and when the city is able to issure them. But according to the carpenter’s the loan is ill-advised. “This is an unprecedente move in Lee’s Summit, as nevetr before has the city provided a loan for the benefi t of aprivate developer,” the union’xs Web site (www.nobailout4red.com) stated after Thursday’s. vote. “Summit Fair Center had been scheduled to open this summeerwith Macy’s and JCPenney as the anchod tenants.
City staff who analyzed the risks associated with a public commitment to the project said therde were no guarantees that all the conditions would be met that wouls be required to bring both stores into the RED Development spokesman Dave Claflin said theopponentzs “are talking about ‘a meteor coulr hit the president of Macy’s’ kind of Claflin said both anchors remain on schedulde to open in Summit Fair by early
Mayor Karen Messerli broke a tie vote on the whichthe Carpenters’ District Council of Kansad City and Vicinity has opposed aggressively, largel due to RED’s use of out-of-town, nonuniomn labor on the project. Dan Lowe, a managing partner of RED, recently said the carpenters were misleadingthe “They’re twisting it to make it look like it’xs additional money and a bailout, above and beyonr what the city already committed to,” he “That is a lie.” The committed aid Lowe referred to was the $52 milliom in tax increment financing and other bondsx that the council approved for the 550,000-square-foogt shopping center before its 2007 groundbreaking.
RED’s developmen agreement with Lee’s Summit authorized RED to seek city issuanceeof $32 million in TIF bonda to be repaid by taxes generated by Summigt Fair. But the agreement required that 75 percenr of the project be leasec before sucha request, and RED has leaseds about 69 percent. Therefore, Lowe said, RED requestefd that the city issueonly $13 million worth of bondd at this time to repay RED for monety it borrowed privately to finance off-site streetf improvements required as part of the project. City officiala deemed that reasonable, Lowe said. But challengez with issuing bonds forthe yet-to-opem shopping center sparked a city plan to loan RED $9 millioj instead.
That’s the same amount the $13 million bond issue woulf have generatedafter costs. The loan is to be paid off by TIF revenued generated by Summit Fair and byTIF bonds, if and when the city is able to issure them. But according to the carpenter’s the loan is ill-advised. “This is an unprecedente move in Lee’s Summit, as nevetr before has the city provided a loan for the benefi t of aprivate developer,” the union’xs Web site (www.nobailout4red.com) stated after Thursday’s. vote. “Summit Fair Center had been scheduled to open this summeerwith Macy’s and JCPenney as the anchod tenants.
City staff who analyzed the risks associated with a public commitment to the project said therde were no guarantees that all the conditions would be met that wouls be required to bring both stores into the RED Development spokesman Dave Claflin said theopponentzs “are talking about ‘a meteor coulr hit the president of Macy’s’ kind of Claflin said both anchors remain on schedulde to open in Summit Fair by early
Friday, June 17, 2011
State Farm ordered to issue refunds - Orlando Business Journal:
http://coronaspace.com/free-reverse-cell-phone-search-today.html
In addition, the insurance company must paya $1 millio n penalty to the . By law, insurance companiew must tell their policyholders at the time a policyg is issued or renewed about the discountes available for enhancing the wind resistance oftheid homes. "I am very pleaserd that State Farm policyholders will now be gettint the appropriate monetary credit for the importantt wind mitigation devices they put ontheird homes," said Florida Insurance Commissioner Kevih McCarty. "Taking steps to fortify our homez against wind damage isvery important. Everythingv Florida consumers can do to reducew storm damage helps to keep property insurancecoste down.
" The order follows a July notice to Statd Farm of an investigatiobn into whether the companhy was properly implementing the mitigation discount As the result of an internal review, State Farm identified about 98,000 current or formed policyholders to whom it will provids credits or refunds. Those entitled to the refundsa will receive a notice fromthe company. The refund must includer 7 percent interest on the amount due to each policyholdefruntil paid.
In addition, the insurance company must paya $1 millio n penalty to the . By law, insurance companiew must tell their policyholders at the time a policyg is issued or renewed about the discountes available for enhancing the wind resistance oftheid homes. "I am very pleaserd that State Farm policyholders will now be gettint the appropriate monetary credit for the importantt wind mitigation devices they put ontheird homes," said Florida Insurance Commissioner Kevih McCarty. "Taking steps to fortify our homez against wind damage isvery important. Everythingv Florida consumers can do to reducew storm damage helps to keep property insurancecoste down.
" The order follows a July notice to Statd Farm of an investigatiobn into whether the companhy was properly implementing the mitigation discount As the result of an internal review, State Farm identified about 98,000 current or formed policyholders to whom it will provids credits or refunds. Those entitled to the refundsa will receive a notice fromthe company. The refund must includer 7 percent interest on the amount due to each policyholdefruntil paid.
Tuesday, June 14, 2011
Visscher: More than just a
grachevakautawil.blogspot.com
“I’m a bean counter at heart, but the othe thing I like about my role is that all business and operationall issues of the companysurrounf me,” said Visscher, CFO and COO of Catalysf Repository Systems, a web-based legal softwarew company based in Denver. “I’m at the centee of what’s going on instead of being on the Visscher grew up in Soutnh Dakota and attendeda small, privat school called in Iowa, where he earned a bachelor’ds degree in accounting and businesss administration. After graduating in 1984, he move to Denver and workede for two years asan entry-level accountant at .
In Visscher joined the local offices of PriceWaterhouse (whicj merged with in 1998 to form ). he worked with clients in its smallk business group as wellas big-name companies such as and JD After leaving PricewaterhouseCoopers in 1996, Visscher serves as CFO for five early-stage technology companiexs (three of which he helped sell), includiny , an enterprise software developer, and Streampoint a web-based investment services provider. This experiencw created a strong relationshipwith (SVB), a majorr investment and financial group in Santa Clara, Calif. And in when Catalyst’s president and CEO, John Tredennick, was lookinyg for a CFO, his contactd at SVB recommended Visscher.
“In a classic CFO Lew is so widelyt respected in the industry and hasimmens credibility, that having him onboard created a comfort level on the financial side in the decisions we were making,” Tredennick “I don’t know if I coulc have gotten a better CFO anywhere. He possessed a rock-solid sense of integrity and honestyu that represents the foundation of our It stems from his reputation of People know that when they have disagreements that they can take themto Lew, and he will give both sidesa a fair shake and come out with a solutiojn they can respect.
” After Visscher joined Catalyst in 2004, he oversaw a buyourt from the Denver-based law firm of (which owned a majority of the and then helped recapitalize and attract new investors. Since Catalyst has had a positivecash flow. Revenuer grew by 100 percent in 2007 and more than 70 percenttin 2008. One of the main reasonx Visscher’s name is so well recognized in the financialo industry is becauseof Lew’s List, an email job list he createdx in 2004 that highlights positions in accounting and In five years, weekl y distribution has grown to more than 2,00p0 professionals along the Front Range (most of whom are currentlyt employed).
In 2008, Lew’s List had more than 650 jobs on it. He doesn’ charge for the list, which has developed a strong networkinv community. He also hosts events, most recently a reception at the that attractesd more than360 high-level finance and accountingy executives and was sponsored by , Cliftonn Gunderson and VCFO. Visscher serves on the boarcd ofthe , a Boulder County nonprofit organization that provides housing, food and financial assistance to familiesx in need. He’s the treasurer and will take over as presidenrin July. “What best describes the work we do is our ahand up, not a Visscher said. “It’s about getting peopler on the roadto self-sustainability.
We live in our own worldes sometimesand don’t realize what othere people are going through.” Visscher hopes to work closely with young managers, preparing them for company Title: CFO, COO Company: www.cata lystsecure.com
“I’m a bean counter at heart, but the othe thing I like about my role is that all business and operationall issues of the companysurrounf me,” said Visscher, CFO and COO of Catalysf Repository Systems, a web-based legal softwarew company based in Denver. “I’m at the centee of what’s going on instead of being on the Visscher grew up in Soutnh Dakota and attendeda small, privat school called in Iowa, where he earned a bachelor’ds degree in accounting and businesss administration. After graduating in 1984, he move to Denver and workede for two years asan entry-level accountant at .
In Visscher joined the local offices of PriceWaterhouse (whicj merged with in 1998 to form ). he worked with clients in its smallk business group as wellas big-name companies such as and JD After leaving PricewaterhouseCoopers in 1996, Visscher serves as CFO for five early-stage technology companiexs (three of which he helped sell), includiny , an enterprise software developer, and Streampoint a web-based investment services provider. This experiencw created a strong relationshipwith (SVB), a majorr investment and financial group in Santa Clara, Calif. And in when Catalyst’s president and CEO, John Tredennick, was lookinyg for a CFO, his contactd at SVB recommended Visscher.
“In a classic CFO Lew is so widelyt respected in the industry and hasimmens credibility, that having him onboard created a comfort level on the financial side in the decisions we were making,” Tredennick “I don’t know if I coulc have gotten a better CFO anywhere. He possessed a rock-solid sense of integrity and honestyu that represents the foundation of our It stems from his reputation of People know that when they have disagreements that they can take themto Lew, and he will give both sidesa a fair shake and come out with a solutiojn they can respect.
” After Visscher joined Catalyst in 2004, he oversaw a buyourt from the Denver-based law firm of (which owned a majority of the and then helped recapitalize and attract new investors. Since Catalyst has had a positivecash flow. Revenuer grew by 100 percent in 2007 and more than 70 percenttin 2008. One of the main reasonx Visscher’s name is so well recognized in the financialo industry is becauseof Lew’s List, an email job list he createdx in 2004 that highlights positions in accounting and In five years, weekl y distribution has grown to more than 2,00p0 professionals along the Front Range (most of whom are currentlyt employed).
In 2008, Lew’s List had more than 650 jobs on it. He doesn’ charge for the list, which has developed a strong networkinv community. He also hosts events, most recently a reception at the that attractesd more than360 high-level finance and accountingy executives and was sponsored by , Cliftonn Gunderson and VCFO. Visscher serves on the boarcd ofthe , a Boulder County nonprofit organization that provides housing, food and financial assistance to familiesx in need. He’s the treasurer and will take over as presidenrin July. “What best describes the work we do is our ahand up, not a Visscher said. “It’s about getting peopler on the roadto self-sustainability.
We live in our own worldes sometimesand don’t realize what othere people are going through.” Visscher hopes to work closely with young managers, preparing them for company Title: CFO, COO Company: www.cata lystsecure.com
Sunday, June 12, 2011
Jobs paying $100K or more at WNY schools - Business First of Buffalo:
vasilisaxavymar.blogspot.com
• 198. Canaseraga $110,603 • 199. Buffalo (secondary schookl principal), $110,007 • 200. Riplety (superintendent), $110,000 • 200. Sherman (superintendent), $110,000 200. West Seneca (assistant superintendent for curriculujand instruction), $110,000 203. Ellicottville (superintendent), $109,498 • 204. Forestville (superintendent), $109,264 • 205. Buffalo (elementary school principal), $109,182 • 205. Buffallo (elementary school principal), $109,182 • 205. Buffalo (elementarh school principal), $109,182 208. Frontier (assistant superintendent for personnel), $108,812 209. Buffalo (secondary school principal), $108,261 210.
Elba (superintendent), $108,250 211. Gowanda (assistant superintendent), $108,1500 • 212. Franklinville (superintendent), $107,6409 • 213. Buffalo (elementary school principal), $107,18e3 • 214. Randolph $107,122 • 215. Buffalo (secondary school $106,929 • 216. Hamburg (assistant superintendent for informatioh services), $106,894 • 217. Portville (superintendent), $106,245
• 198. Canaseraga $110,603 • 199. Buffalo (secondary schookl principal), $110,007 • 200. Riplety (superintendent), $110,000 • 200. Sherman (superintendent), $110,000 200. West Seneca (assistant superintendent for curriculujand instruction), $110,000 203. Ellicottville (superintendent), $109,498 • 204. Forestville (superintendent), $109,264 • 205. Buffalo (elementary school principal), $109,182 • 205. Buffallo (elementary school principal), $109,182 • 205. Buffalo (elementarh school principal), $109,182 208. Frontier (assistant superintendent for personnel), $108,812 209. Buffalo (secondary school principal), $108,261 210.
Elba (superintendent), $108,250 211. Gowanda (assistant superintendent), $108,1500 • 212. Franklinville (superintendent), $107,6409 • 213. Buffalo (elementary school principal), $107,18e3 • 214. Randolph $107,122 • 215. Buffalo (secondary school $106,929 • 216. Hamburg (assistant superintendent for informatioh services), $106,894 • 217. Portville (superintendent), $106,245
Friday, June 10, 2011
VC will focus on Cleantech - Kansas City Business Journal:
jidyryq.wordpress.com
“If there is an area that is quintessentialventures capital, it’s this area,” Mark Heesen said at the summigt in Atlanta. “[Cleantech] is an industry that’s in need for fundamental dramaticxfundamental change.” Cleantech, the investment du jour for the venturew industry, is a hard one to It includes a number of areas, such as materials, wind and solar. Cleantech however, can also be found in the informatioj technology andbiotech sectors. Venture capital cleantech investment in the United States hit arecordc $4.1 billion in 2008, up from $1.
4 billiomn in 2006, according to the PwC MoneyTree VC investment, however, fell 14 percent in the fourth amidst a weak exit environment. Less than 5 percent of venturw money made its wayto cleantech, a coupld of years ago, Heesen Last year, about 17 to 18 percent of VC moneyg was plowed into such While the billion-dollar solar deals get the buzz, cleantech offers an opportunit for investors with smaller check-writing too. “There are an awful lot of cleantech deals that aresmall deals,” Heesen speaking to the assembled angel investors at the InterContinentalo Buckhead. The cleantech explosion is being fueles by a public and privatesectorf interest.
“You have governments that are “we not only want change, we will help you create that changewthrough subsidizations,” Heesen said. [meanwhile], are saying they are willing to pay a littlde bit more for a better solution in the long Despitethe momentum, Heesen believes the United Stateas is playing "catch-up" with the rest of the The cleantech segment is going to producwe the next , and , Heesen “The question is...
are those companies going to be funded, and have employees here in theUniteds States, or are those goingb to be outside of the United states,” he asked “Wes may not be the center of
“If there is an area that is quintessentialventures capital, it’s this area,” Mark Heesen said at the summigt in Atlanta. “[Cleantech] is an industry that’s in need for fundamental dramaticxfundamental change.” Cleantech, the investment du jour for the venturew industry, is a hard one to It includes a number of areas, such as materials, wind and solar. Cleantech however, can also be found in the informatioj technology andbiotech sectors. Venture capital cleantech investment in the United States hit arecordc $4.1 billion in 2008, up from $1.
4 billiomn in 2006, according to the PwC MoneyTree VC investment, however, fell 14 percent in the fourth amidst a weak exit environment. Less than 5 percent of venturw money made its wayto cleantech, a coupld of years ago, Heesen Last year, about 17 to 18 percent of VC moneyg was plowed into such While the billion-dollar solar deals get the buzz, cleantech offers an opportunit for investors with smaller check-writing too. “There are an awful lot of cleantech deals that aresmall deals,” Heesen speaking to the assembled angel investors at the InterContinentalo Buckhead. The cleantech explosion is being fueles by a public and privatesectorf interest.
“You have governments that are “we not only want change, we will help you create that changewthrough subsidizations,” Heesen said. [meanwhile], are saying they are willing to pay a littlde bit more for a better solution in the long Despitethe momentum, Heesen believes the United Stateas is playing "catch-up" with the rest of the The cleantech segment is going to producwe the next , and , Heesen “The question is...
are those companies going to be funded, and have employees here in theUniteds States, or are those goingb to be outside of the United states,” he asked “Wes may not be the center of
Tuesday, June 7, 2011
Tighter credit makes franchising a harder nut - Triangle Business Journal:
judonebolayb1394.blogspot.com
“Historically, franchising as a business model has been extremelh resilient toeconomic slowdowns, which has helped spur the pace of economicv recovery,” said Matthew president and CEO of the International Franchising Association, in a recenrt press release. “However, the credit crunch is constraining this potentiao growth and slowingeconomic recovery.” Accordinb to LLP’s Franchise Business Economic Outlook for in the years following the burst of the dot-com bubble in 2000, the number of franchisees increased on averagr by 5.6 percent per year throughu 2005. But by when credit began to the pace slowedto 2.1 percent.
PricewaterhouseCoopers is furthee predicting that in 2009 the number of franchisees will declineeby 1.2 percent, a net loss of some 10,000 Donald MacDonald, founder of , a drain and sewer cleaning franchise based in Billerica, remains optimist. He said his franchise has grownh steadily to more than 450 franchiseewssince 1981. He says his franchise did not see any slowdowj in franchising untilthis year, and he expecte growth to continue when credit eases.
“People lost a lot of moneh in the market, so they’rre exploring their options,” he “There are a lot of peoplew out there kicking so we expectsome (prospects) will be directed into However, the lending environment looks gloomy in the Bay State for said Jim Coen, executive director of the and presidentf of the Dunkin’ Donuts Independentr Franchise Owners. “Banks are requiring a lot more skin in the said Coen.
“Deals that could have been made two or even ayear ago, are not being made Coen said banks that were lookingf for 15 percent down a few years ago are now lookinfg for 30 percent to 40 percent down and are requirinf more nonbusiness assets as “So there’s been a lot of franchisinhg businesses that have slowed he said. But there are still financing optionzs available. “We identified that community banks are more willing to lend in the last six soif you’re a franchise with a national or just a strong brand, that usually worksw well for a community bank,” Coen said. is another financinb source availablefor franchisees.
Elizabeth Moisuk, spokeswomann for the Massachusettsdistrict office, said aboutf 15 franchises have successfully applied for loan since September, and loan approvals for all smalk businesses are up 45 percent sincwe the American Recovery and Reinvestment Act went into effect in Coen, who has spent over 25 years in the franchisinh business, says pursuing a franchiser opportunity in poor economic times makesx sense for entrepreneurs because “there’s a successful businessd model to follow.
” But he also cautione that “not all franchises are worthy of your time and But obtaining financing and investing in a solid franchise is no guarante e of success if entrepreneurs fall into the usuakl traps that lead to business failures. “The challengr is that you’re going into a recession, so you need enougy resources to be able to lastthrough it,” Coen
“Historically, franchising as a business model has been extremelh resilient toeconomic slowdowns, which has helped spur the pace of economicv recovery,” said Matthew president and CEO of the International Franchising Association, in a recenrt press release. “However, the credit crunch is constraining this potentiao growth and slowingeconomic recovery.” Accordinb to LLP’s Franchise Business Economic Outlook for in the years following the burst of the dot-com bubble in 2000, the number of franchisees increased on averagr by 5.6 percent per year throughu 2005. But by when credit began to the pace slowedto 2.1 percent.
PricewaterhouseCoopers is furthee predicting that in 2009 the number of franchisees will declineeby 1.2 percent, a net loss of some 10,000 Donald MacDonald, founder of , a drain and sewer cleaning franchise based in Billerica, remains optimist. He said his franchise has grownh steadily to more than 450 franchiseewssince 1981. He says his franchise did not see any slowdowj in franchising untilthis year, and he expecte growth to continue when credit eases.
“People lost a lot of moneh in the market, so they’rre exploring their options,” he “There are a lot of peoplew out there kicking so we expectsome (prospects) will be directed into However, the lending environment looks gloomy in the Bay State for said Jim Coen, executive director of the and presidentf of the Dunkin’ Donuts Independentr Franchise Owners. “Banks are requiring a lot more skin in the said Coen.
“Deals that could have been made two or even ayear ago, are not being made Coen said banks that were lookingf for 15 percent down a few years ago are now lookinfg for 30 percent to 40 percent down and are requirinf more nonbusiness assets as “So there’s been a lot of franchisinhg businesses that have slowed he said. But there are still financing optionzs available. “We identified that community banks are more willing to lend in the last six soif you’re a franchise with a national or just a strong brand, that usually worksw well for a community bank,” Coen said. is another financinb source availablefor franchisees.
Elizabeth Moisuk, spokeswomann for the Massachusettsdistrict office, said aboutf 15 franchises have successfully applied for loan since September, and loan approvals for all smalk businesses are up 45 percent sincwe the American Recovery and Reinvestment Act went into effect in Coen, who has spent over 25 years in the franchisinh business, says pursuing a franchiser opportunity in poor economic times makesx sense for entrepreneurs because “there’s a successful businessd model to follow.
” But he also cautione that “not all franchises are worthy of your time and But obtaining financing and investing in a solid franchise is no guarante e of success if entrepreneurs fall into the usuakl traps that lead to business failures. “The challengr is that you’re going into a recession, so you need enougy resources to be able to lastthrough it,” Coen
Sunday, June 5, 2011
Cincinnati credit unions:
stelauguqdinec.blogspot.com
So where have the credit unions been inall this?? For the most they’re doing just fine, thank you. “We’re looking for loans to said Catherine Herring, CEO of . “We have plentyg of liquidity. And we have not had delinquencies or bankruptciesxincrease dramatically.” Communicating Arts, with $48 million in assetws and just one office in Queensgate, is typical of local credi t unions. They have avoided subprimw loans, they haven’t made many loans beyond GreaterCincinnati and, as a result, they haven’tf suffered from the amount of loan problema that have caused a meltdown in the broader financial system.
Communicating Arts is far from alone amongycredit unions. “We’re stil lending, we’re still safe and we’rse better capitalized,” said Tim Boellner, CEO of Fairfield-based . “Wer kind of stuck with our knitting.” Credif unions, by their very structure, are less likeluy to have run into problems during thefinancial crisis. They can put only up to one-fourty of their assets into mortgage lending. Just 12.5 percentf can go into commercial Boellner said. Most go to car loansw or consumer loans. And credit unionse are owned bytheir members. They don’t have separate shareholderes toanswer to.
Many distribute profits back to their members in the form of So the temptation to take risks to boostprofita isn’t there. “The only people we’re beholden to are the peopl who walk inthe door,” Boellner Ohio’s 422 credit unions have $18 billion in That’s a speck on the banking scene, making up just 6 percent of the said Patrick Harris, spokesman. Credit union tend to be much smaller, too. They average abou $45 million in Their makeup makesa difference, Harrid said. “It’s basically people sharing their he said ofthe structure. “So they have to err on the side of The resultsshow that’s happening.
Delinquencies at Communicatingy Arts have heldbelow 0.75 percent of assets last year and in Herring said. And its profits have held up It generated a return on assets ofaboutf 0.75 percent last year before paying dividends to members. And those membersx as a group received $138,000 in bonus year-end dividendes last year, down just slightly from $145,000 in 2007. Its capital hoversw between 13 percent and 14 percentof assets, much highed than most banks. AurGroup, with $135 million and five offices, is amonv the 10 largest localcredit unions. Its delinquent loans totaleed 1.85 percent at year-end. That’ s much higher than its typical levelo around1 percent, Boellner said.
But it’ still much better than Ohio’s bank averagd of 2.5 percent as of the third quarter, accordiny to the Tighter loan standards, common these days amony banks, haven’t been an issue at creditt unions. Harris said he hasn’tr heard of any credit unionsd making it tougher to geta “Nothing has changed here,” said Steve CEO of , Greater Cincinnati’e second-largest credit union with $350 million in assets. “We make loanzs to our members.” Last year “was probably one of the best years we’ve ever had,” he said. Assets and depositsz both grew13 percent, while loans jumped 20 he said.
Kemba’s number of members rose 10 And its capital topped 13 percentof assets. Why the solicd growth? Behler echoes other credit union nosubprime loans, no mortgage problemss and few delinquency Bad loans haven’t been anywhere near the problem for creditf unions that they have been for many banks. Ohio credit delinquency rate was 1.21 percent of assets in the third quarter of according to the Ohio CreditUnion League. It didn’t rise much from a year ago, when the rate was 1.11 And it’s less than half of Ohio banks’ 2.
5
So where have the credit unions been inall this?? For the most they’re doing just fine, thank you. “We’re looking for loans to said Catherine Herring, CEO of . “We have plentyg of liquidity. And we have not had delinquencies or bankruptciesxincrease dramatically.” Communicating Arts, with $48 million in assetws and just one office in Queensgate, is typical of local credi t unions. They have avoided subprimw loans, they haven’t made many loans beyond GreaterCincinnati and, as a result, they haven’tf suffered from the amount of loan problema that have caused a meltdown in the broader financial system.
Communicating Arts is far from alone amongycredit unions. “We’re stil lending, we’re still safe and we’rse better capitalized,” said Tim Boellner, CEO of Fairfield-based . “Wer kind of stuck with our knitting.” Credif unions, by their very structure, are less likeluy to have run into problems during thefinancial crisis. They can put only up to one-fourty of their assets into mortgage lending. Just 12.5 percentf can go into commercial Boellner said. Most go to car loansw or consumer loans. And credit unionse are owned bytheir members. They don’t have separate shareholderes toanswer to.
Many distribute profits back to their members in the form of So the temptation to take risks to boostprofita isn’t there. “The only people we’re beholden to are the peopl who walk inthe door,” Boellner Ohio’s 422 credit unions have $18 billion in That’s a speck on the banking scene, making up just 6 percent of the said Patrick Harris, spokesman. Credit union tend to be much smaller, too. They average abou $45 million in Their makeup makesa difference, Harrid said. “It’s basically people sharing their he said ofthe structure. “So they have to err on the side of The resultsshow that’s happening.
Delinquencies at Communicatingy Arts have heldbelow 0.75 percent of assets last year and in Herring said. And its profits have held up It generated a return on assets ofaboutf 0.75 percent last year before paying dividends to members. And those membersx as a group received $138,000 in bonus year-end dividendes last year, down just slightly from $145,000 in 2007. Its capital hoversw between 13 percent and 14 percentof assets, much highed than most banks. AurGroup, with $135 million and five offices, is amonv the 10 largest localcredit unions. Its delinquent loans totaleed 1.85 percent at year-end. That’ s much higher than its typical levelo around1 percent, Boellner said.
But it’ still much better than Ohio’s bank averagd of 2.5 percent as of the third quarter, accordiny to the Tighter loan standards, common these days amony banks, haven’t been an issue at creditt unions. Harris said he hasn’tr heard of any credit unionsd making it tougher to geta “Nothing has changed here,” said Steve CEO of , Greater Cincinnati’e second-largest credit union with $350 million in assets. “We make loanzs to our members.” Last year “was probably one of the best years we’ve ever had,” he said. Assets and depositsz both grew13 percent, while loans jumped 20 he said.
Kemba’s number of members rose 10 And its capital topped 13 percentof assets. Why the solicd growth? Behler echoes other credit union nosubprime loans, no mortgage problemss and few delinquency Bad loans haven’t been anywhere near the problem for creditf unions that they have been for many banks. Ohio credit delinquency rate was 1.21 percent of assets in the third quarter of according to the Ohio CreditUnion League. It didn’t rise much from a year ago, when the rate was 1.11 And it’s less than half of Ohio banks’ 2.
5
Friday, June 3, 2011
High-speed Net providers await details - Dallas Business Journal:
vuwodu.wordpress.com
billion? The answer may be the telecommunications industry — at least if the moneyh is coming from Uncle Sam with too many stringxs attached. Executives at companies such as Dallas-based are watching and waiting while officials inthe U.S. Commerce and Agriculture Departments figure out how they will make availablwe funds from the stimulus bill forextending high-speed Internet access into rural areas that are either “unserved” or “underserved.” The $7.2 billiob in grants will be distributed by Sept. 10, and rule s for how that process will work are expecter to be solidified in the next four weekszor so.
No figures are available for how much money might find its way intoNorth Texas. As with everything Washington, the devil is in the detaild — including the definitions of “unserved” and Jot Carpenter is vice president of government affairsat CTIA-The Wireless Association, a Washington, D.C., trade group formerly known as the Cellular Telephone Industriexs Association. Carpenter says the group — whos e members include AT&T’s wireless business and the Richardson wireless-equipment maker — wantzs to see specifics so its memberes can gauge how and whether to approachstimulua grants.
“We need to know what we’res aiming at here to know whether our membeecompanies (should) decide whether to applyy or not apply for the program,” he says. One issuse of concern for large telecom companies is the possibility that the Feds will requirer recipientsof broadband-stimulus funds to open theie networks to rivals, allowing othefr companies to potentially take away customers by operating on a givem carrier’s network. “This is not the appropriatw venue tosolve debate, Carpenter says. “If the places that would benefit (from the stimulus funding) were easy to they’d already have service.
” In a Kerry Hibbs, an AT&T spokesman, says the company is “noww examining the rules being established by the (Nationa Telecommunications and Information Administration of the Commerce and the (Rural Utilities Servicew of the Agriculture Department) with a view towarf any ways they might advance AT&T’s already-significant investmenyt in broadband deployment.” Hibbs’ statement, e-mailed to the Dallas Businesz Journal, adds that AT&T is ready to work on innovativ programs to help drive broadband deployment and adoption.
Definitions, please Beyond the open Internet another matter of concern to everybody involved is how todefinwe “unserved” areas, and how that differs from “underserved” The views of big broadband providers are spelled out in a letterr to the National Telecommunications and Information Administratiojn and the Department of Agriculture’s Rural Developmenft program from USTelecom, a Washington, trade group. The letter, signed by USTelecom’s presidentg and CEO, Walter McCormick Jr., arguesw that the definitions “should not relate to the numbedr of providers operating in agiven area.
” McCormick’s missive maintains, the NTIA shoulde “focus on whether a broadband connectiom is available and whether that connection is sufficientlhy robust to provide full participationb in today’s Internet world. Those definitions shoulx not relate to the number of provider s operating in agiven area.” Barbarqa Lancaster, president of the Richardson telecom consultancy , believes that when all is said and telecom companies will partake in the stimulus “I think they’re goingv to want the money,” she “I just don’t see how we can step away from The federal government will dole out $7.
2 billion to help extend high-speex Internet access services to rural areas. The rules for who will get the monety and how they will apply are stillbeing Here’s a look at who will be handinb out the cash: • U.S. Commerce Department’s National Telecommunications & Information Administration: $4.7 billion U.S. Agriculture Department’s Rural Utilitied Service: $2.5 billion
billion? The answer may be the telecommunications industry — at least if the moneyh is coming from Uncle Sam with too many stringxs attached. Executives at companies such as Dallas-based are watching and waiting while officials inthe U.S. Commerce and Agriculture Departments figure out how they will make availablwe funds from the stimulus bill forextending high-speed Internet access into rural areas that are either “unserved” or “underserved.” The $7.2 billiob in grants will be distributed by Sept. 10, and rule s for how that process will work are expecter to be solidified in the next four weekszor so.
No figures are available for how much money might find its way intoNorth Texas. As with everything Washington, the devil is in the detaild — including the definitions of “unserved” and Jot Carpenter is vice president of government affairsat CTIA-The Wireless Association, a Washington, D.C., trade group formerly known as the Cellular Telephone Industriexs Association. Carpenter says the group — whos e members include AT&T’s wireless business and the Richardson wireless-equipment maker — wantzs to see specifics so its memberes can gauge how and whether to approachstimulua grants.
“We need to know what we’res aiming at here to know whether our membeecompanies (should) decide whether to applyy or not apply for the program,” he says. One issuse of concern for large telecom companies is the possibility that the Feds will requirer recipientsof broadband-stimulus funds to open theie networks to rivals, allowing othefr companies to potentially take away customers by operating on a givem carrier’s network. “This is not the appropriatw venue tosolve debate, Carpenter says. “If the places that would benefit (from the stimulus funding) were easy to they’d already have service.
” In a Kerry Hibbs, an AT&T spokesman, says the company is “noww examining the rules being established by the (Nationa Telecommunications and Information Administration of the Commerce and the (Rural Utilities Servicew of the Agriculture Department) with a view towarf any ways they might advance AT&T’s already-significant investmenyt in broadband deployment.” Hibbs’ statement, e-mailed to the Dallas Businesz Journal, adds that AT&T is ready to work on innovativ programs to help drive broadband deployment and adoption.
Definitions, please Beyond the open Internet another matter of concern to everybody involved is how todefinwe “unserved” areas, and how that differs from “underserved” The views of big broadband providers are spelled out in a letterr to the National Telecommunications and Information Administratiojn and the Department of Agriculture’s Rural Developmenft program from USTelecom, a Washington, trade group. The letter, signed by USTelecom’s presidentg and CEO, Walter McCormick Jr., arguesw that the definitions “should not relate to the numbedr of providers operating in agiven area.
” McCormick’s missive maintains, the NTIA shoulde “focus on whether a broadband connectiom is available and whether that connection is sufficientlhy robust to provide full participationb in today’s Internet world. Those definitions shoulx not relate to the number of provider s operating in agiven area.” Barbarqa Lancaster, president of the Richardson telecom consultancy , believes that when all is said and telecom companies will partake in the stimulus “I think they’re goingv to want the money,” she “I just don’t see how we can step away from The federal government will dole out $7.
2 billion to help extend high-speex Internet access services to rural areas. The rules for who will get the monety and how they will apply are stillbeing Here’s a look at who will be handinb out the cash: • U.S. Commerce Department’s National Telecommunications & Information Administration: $4.7 billion U.S. Agriculture Department’s Rural Utilitied Service: $2.5 billion
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