iwibacibem.wordpress.com
• at welcomed two leaders: Alan Nelson, a prominentf expert in technology commercialization, is the institute’s new and Joshua LaBaer, a pioneere in proteomics, will head a sophisticated personalizerdiagnostics laboratory. • launched its Children’s Neurosciencd Institute, led by an elite pediatric neurosurgeon: the newluy recruited P. David Adelson, who oversees 40 researcherxs and caregivers, as well as a $14 millionb clinical trial funded by the National Institutesof
Saturday, June 30, 2012
Thursday, June 28, 2012
Portland Art Museum cuts 9.7 percent from 2010 budget - Portland Business Journal:
oryzacody.wordpress.com
percent from its 2010 budget to compensate for lower revenure from its invested funds as well as a drop in admissionj andmembership revenue. Wednesday, the museum’s trustees approved a $12.12 million spending plan based on a dismall 2009revenue forecast. “Fot me, it’s the economy,” said Brian Ferriso, executive director. Ferrisp said he will continue to review the museum’s financial performance, but doesn’t anticipatr restore funding until he sees firm trends, probably not before 2010. The museum eliminated five positions inthe marketing, rental sales, libraryu and visitor services departments, leaving 125 positions.
• The four most seniofr executives will have theirsalaries • All employees are required to take a one-weekj unpaid furlough. • Contributions to the 401(k) pensiob plan are suspended. • Exhibit costs are being lowered by partneringwith collectors. Thered will be fewer exhibitions on displau for longer periodsof • Adult admission will climb 20 percent to $12. The museukm will begin a program of free admission on the fourtu Friday ofeven month, in addition to its current 17-and-under admission program and its “Free Family Days”.
• Trustees will contributes $1 million toward exhibition and educational Ferriso saidthe museum’s invested funds have fallen 26.8 percengt to $34 million and revenue from members is down 12 percent. Admission s are down three
percent from its 2010 budget to compensate for lower revenure from its invested funds as well as a drop in admissionj andmembership revenue. Wednesday, the museum’s trustees approved a $12.12 million spending plan based on a dismall 2009revenue forecast. “Fot me, it’s the economy,” said Brian Ferriso, executive director. Ferrisp said he will continue to review the museum’s financial performance, but doesn’t anticipatr restore funding until he sees firm trends, probably not before 2010. The museum eliminated five positions inthe marketing, rental sales, libraryu and visitor services departments, leaving 125 positions.
• The four most seniofr executives will have theirsalaries • All employees are required to take a one-weekj unpaid furlough. • Contributions to the 401(k) pensiob plan are suspended. • Exhibit costs are being lowered by partneringwith collectors. Thered will be fewer exhibitions on displau for longer periodsof • Adult admission will climb 20 percent to $12. The museukm will begin a program of free admission on the fourtu Friday ofeven month, in addition to its current 17-and-under admission program and its “Free Family Days”.
• Trustees will contributes $1 million toward exhibition and educational Ferriso saidthe museum’s invested funds have fallen 26.8 percengt to $34 million and revenue from members is down 12 percent. Admission s are down three
Wednesday, June 27, 2012
Rockies taking radical route with rotation - USA TODAY
jiqatili.wordpress.com
USA TODAY | Rockies taking radical route with rotation USA TODAY Can possible 11-man rotation change Colorado's fortunes? Said Rockies GM: "You might be shocked by what we do." |
Monday, June 25, 2012
Hanover firefighters responded to 438 service calls in 2 hours - WTVR
lyubomiradete.blogspot.com
WTVR | Hanover firefighters responded to 438 service calls in 2 hours WTVR Hanover firefighters say over the course of two hours, they responded to 438 calls for service. But damage was everywhere around the area. |
Sunday, June 24, 2012
Turkey blames Syria for jet attack, consults NATO - Chicago Tribune
olimstgon.blogspot.com
CTV.ca | Turkey blames Syria for jet attack, consults NATO Chicago Tribune ANKARA /AMMAN (Reuters) - Turkey accused Syria on Sunday of shooting down a military plane in international airspace without warning and c » |
Saturday, June 23, 2012
Costa Del Mar buys carbon offsets - Business First of Columbus:
ovaluleq.wordpress.com
The company also purchased carbonn offsets to balance the carbon emissions created throughits employees' business travel including air and ground transportation. Collectively, this will help to prevent up to 1.1 million poundx of carbon dioxide emissionx from enteringthe Earth's atmosphere, accordin g to a Costa Del Mar The carbon offsets, sometimes called renewablr energy credits, are created by generating power throughh wind, solar, hydro-electric and biomass While the value of the credits has been supporters say they serve as an incentive to invest in generatingb energy through renewable Renewable Choice is a Boulder, Colo.
-based providerr of renewable energy credits and carbon offsets. Costz Del Mar is a manufacturer ofpolarized
The company also purchased carbonn offsets to balance the carbon emissions created throughits employees' business travel including air and ground transportation. Collectively, this will help to prevent up to 1.1 million poundx of carbon dioxide emissionx from enteringthe Earth's atmosphere, accordin g to a Costa Del Mar The carbon offsets, sometimes called renewablr energy credits, are created by generating power throughh wind, solar, hydro-electric and biomass While the value of the credits has been supporters say they serve as an incentive to invest in generatingb energy through renewable Renewable Choice is a Boulder, Colo.
-based providerr of renewable energy credits and carbon offsets. Costz Del Mar is a manufacturer ofpolarized
Thursday, June 21, 2012
New Vine Logistics responds to critics - San Francisco Business Times:
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The company, which two years ago seemed poised to ship 20 percenyof California’s direct-to-consumer wine market, laid off much of its staffg on Friday and brusquely told customers over the weekend that it was no longet receiving or processing orders. The move left many Wine Countryy providers scrambling to gather information and to figure out how to get back inventor y atNew Vine’s American Canyonh warehouse so they could ship it to customerws another way.
Published accounts said two ofthe company’s venturr capital investors effectively pulled the plug last week, by declininbg to invest additional capital in New “Some people changed theirt minds at the last minute,” said Barbaraa Insel, a wine industry analyst who served on New Vine’ds advisory board. Kathleen Hoertkorn, New Vine Logistics’ founder and former CEO, and Chairman of the Board Homer Dunn issued a statemeny Tuesday inresponse “top media reports about the suspension of its businessw operations.
” Hoertkorn and Dunn said New Vine is workiny with customers “to transfer all services to anotherf means of legal direct shipping, and in the is finalizing all work, including compiling of reconciling inventory and invoices, and performing all of the necessary business operations for the monthn of May and June.” Hoertkorn added, in response to reports that the company knew or must have known it was in financial trouble, that officials “truly believed that they would have been fundesd and were not expecting to have to cease The wine industry heard rumblinges about New Vine’s implosion over the weekend and was greeted Mondayt by published reports saying it had ceasedc most business operations.
The company’s voicre mail on June 1 said “Neew Vine is no longer receiving or shippint orders for shipment fromour facility,” and notexd that it had “limited to handle a transition. Hoertkorn sent an email to clients over the weekend indicating that NewVine “haes abruptly gone into a state of financial crisis and is currentlyg working on the plan forward.” The company -- whicgh as recently as March 2007 had 63 stafferz and planned to acquire a similar firm and nab up to 20 percen t of the direct-to-consumer wine shipping market in the Golden State -- had more than 200 customers and roughlyt 110 employees as of last sources say.
It now has a skeletomn crew of about 30 staffers at its Napa headquarters and American Canyonshipping facility, including a handfu of executives who are working to wind down A host of questions remainj about its situation, including whether workers laid off on Fridag received final paychecks, the role investors and playerd in the company’s recent collapse, how its partnership with (NASDAQ: AMZN) to help the onlines retail giant develop a wine salew site affected the situation, and how customeres will retrieve their inventories and make other arrangements to ship thei r wines to consumers.
Insel told the San Francisco Business Times that a review ofthe company’w operations by state regulators delaye dealings with Amazon, and that Amazonm “got skittish, very cautious” after a lengthy compliancwe review of New Vine by the California Department of Alcoholic Beverage New Vine was started in 2001 on the notiob that it could help expedite shipment to consumers in various states with confusinb and complicated legal restrictions on wine a lingering legacy of the Prohibition years in Charlotte Milan, apparently brought in as a compangy spokeswoman sometime Monday or early told the San Franciscl Business Times that New Vine is working with its lawyerx “to handle this (paying laid-off and all issues.
“All I can say is the employeesd are thetop priority, and New Vine is workinfg on any employee related issues right Milan added. In Marchy 2007, Hoertkorn told the Business Timesz that New Vine would shipabout 4.2 million bottlezs that year for about 260 customers, and expected to ship wines worthy about $200 million, the vast majority of them for California producers, along with small amounts for Oregonn and Washington state wineries. At the time, New Vine’s annual revenu was about $10 million, officials said, and was expectedc to double in 2007. Customers at the time included , , , , and .
Financiall backers include Menlo Park’s , and New Vine has approximatel200 customers, according to a report Mondauy on Wine Business.com, about half of them wineriexs and the other half marketingg agents and others. It also had plans to partner with Amazon.conm to launch a wine buying and shipping which now appear tobe kaput. Hoertkorn said Tuesdayt that the company will keepwineryt customers, employees and shareholders advised of its next steps, adding “Wes deeply apologize for the situation, and we pledge to work with our customerss to make as smooth and expedienrt shipping transition as possible.
”
The company, which two years ago seemed poised to ship 20 percenyof California’s direct-to-consumer wine market, laid off much of its staffg on Friday and brusquely told customers over the weekend that it was no longet receiving or processing orders. The move left many Wine Countryy providers scrambling to gather information and to figure out how to get back inventor y atNew Vine’s American Canyonh warehouse so they could ship it to customerws another way.
Published accounts said two ofthe company’s venturr capital investors effectively pulled the plug last week, by declininbg to invest additional capital in New “Some people changed theirt minds at the last minute,” said Barbaraa Insel, a wine industry analyst who served on New Vine’ds advisory board. Kathleen Hoertkorn, New Vine Logistics’ founder and former CEO, and Chairman of the Board Homer Dunn issued a statemeny Tuesday inresponse “top media reports about the suspension of its businessw operations.
” Hoertkorn and Dunn said New Vine is workiny with customers “to transfer all services to anotherf means of legal direct shipping, and in the is finalizing all work, including compiling of reconciling inventory and invoices, and performing all of the necessary business operations for the monthn of May and June.” Hoertkorn added, in response to reports that the company knew or must have known it was in financial trouble, that officials “truly believed that they would have been fundesd and were not expecting to have to cease The wine industry heard rumblinges about New Vine’s implosion over the weekend and was greeted Mondayt by published reports saying it had ceasedc most business operations.
The company’s voicre mail on June 1 said “Neew Vine is no longer receiving or shippint orders for shipment fromour facility,” and notexd that it had “limited to handle a transition. Hoertkorn sent an email to clients over the weekend indicating that NewVine “haes abruptly gone into a state of financial crisis and is currentlyg working on the plan forward.” The company -- whicgh as recently as March 2007 had 63 stafferz and planned to acquire a similar firm and nab up to 20 percen t of the direct-to-consumer wine shipping market in the Golden State -- had more than 200 customers and roughlyt 110 employees as of last sources say.
It now has a skeletomn crew of about 30 staffers at its Napa headquarters and American Canyonshipping facility, including a handfu of executives who are working to wind down A host of questions remainj about its situation, including whether workers laid off on Fridag received final paychecks, the role investors and playerd in the company’s recent collapse, how its partnership with (NASDAQ: AMZN) to help the onlines retail giant develop a wine salew site affected the situation, and how customeres will retrieve their inventories and make other arrangements to ship thei r wines to consumers.
Insel told the San Francisco Business Times that a review ofthe company’w operations by state regulators delaye dealings with Amazon, and that Amazonm “got skittish, very cautious” after a lengthy compliancwe review of New Vine by the California Department of Alcoholic Beverage New Vine was started in 2001 on the notiob that it could help expedite shipment to consumers in various states with confusinb and complicated legal restrictions on wine a lingering legacy of the Prohibition years in Charlotte Milan, apparently brought in as a compangy spokeswoman sometime Monday or early told the San Franciscl Business Times that New Vine is working with its lawyerx “to handle this (paying laid-off and all issues.
“All I can say is the employeesd are thetop priority, and New Vine is workinfg on any employee related issues right Milan added. In Marchy 2007, Hoertkorn told the Business Timesz that New Vine would shipabout 4.2 million bottlezs that year for about 260 customers, and expected to ship wines worthy about $200 million, the vast majority of them for California producers, along with small amounts for Oregonn and Washington state wineries. At the time, New Vine’s annual revenu was about $10 million, officials said, and was expectedc to double in 2007. Customers at the time included , , , , and .
Financiall backers include Menlo Park’s , and New Vine has approximatel200 customers, according to a report Mondauy on Wine Business.com, about half of them wineriexs and the other half marketingg agents and others. It also had plans to partner with Amazon.conm to launch a wine buying and shipping which now appear tobe kaput. Hoertkorn said Tuesdayt that the company will keepwineryt customers, employees and shareholders advised of its next steps, adding “Wes deeply apologize for the situation, and we pledge to work with our customerss to make as smooth and expedienrt shipping transition as possible.
”
Wednesday, June 20, 2012
Starbucks makes food healthier - Orlando Business Journal:
deeshu-tatum.blogspot.com
The coffee giant says it has simplified recipew to includemore high-quality ingredientw like whole grains, blueberries from Oregoh and cherries from Michigan. “Starbucks customers have been telling us that they want better tasting and healthier food optionsz when they visitour stores,” said Starbuck s food category vice president Sandra Stark in a news releas e announcing the new menus. “We answeres their call with a deliciousx new menu of food made with real ingredientes and morewholesome options.” New menu itema include a blueberry oat bar, a farmer’s market salad and banana walnut bread that Starbuck says “is nearly 30 percent real banana.
” Starbuckz has been expanding its food menu in the last two yearsx to entice customers to visit more and to spend more per The company was also among the first restaurant chains in the countrt to ban trans fat from its food and beverages. Starbucksd (NASDAQ: SBUX) is closingh hundreds of locations and cuttinhg thousands of jobs to trim expensexs asrevenue falls. The companh reported sales fell 8 percenylast quarter, following a 9 percent decline in first quarter sales. It is also facing pressurd fromMcDonalds (NYSE: MCD), whose new coffede drinks are driving sales higher.
The coffee giant says it has simplified recipew to includemore high-quality ingredientw like whole grains, blueberries from Oregoh and cherries from Michigan. “Starbucks customers have been telling us that they want better tasting and healthier food optionsz when they visitour stores,” said Starbuck s food category vice president Sandra Stark in a news releas e announcing the new menus. “We answeres their call with a deliciousx new menu of food made with real ingredientes and morewholesome options.” New menu itema include a blueberry oat bar, a farmer’s market salad and banana walnut bread that Starbuck says “is nearly 30 percent real banana.
” Starbuckz has been expanding its food menu in the last two yearsx to entice customers to visit more and to spend more per The company was also among the first restaurant chains in the countrt to ban trans fat from its food and beverages. Starbucksd (NASDAQ: SBUX) is closingh hundreds of locations and cuttinhg thousands of jobs to trim expensexs asrevenue falls. The companh reported sales fell 8 percenylast quarter, following a 9 percent decline in first quarter sales. It is also facing pressurd fromMcDonalds (NYSE: MCD), whose new coffede drinks are driving sales higher.
Monday, June 18, 2012
Can a Law Save a Language? - Pacific Standard
tarpleypymibujuh1491.blogspot.com
Can a Law Save a Language? Pacific Standard If Javanese is dying, it's hard to detect by the usual meansâ€"counting how many ... And in a country with deep Internet penetration, Javanese also has a vast ... |
Sunday, June 17, 2012
Republicans, Democrats spar on allowing illegal immigrants with ... - Fox News
jiqatili.wordpress.com
Republicans, Democrats spar on allowing illegal immigrants with ... Fox News Democrats and Republicans appeared to disagreed Saturday over the part of President Obama's executive order on illegal immigration that allows some ... |
Saturday, June 16, 2012
TJX settles with Florida, 41 states in security breach - South Florida Business Journal:
viningocouqyl1601.blogspot.com
TJX of Framingham, which is the parent of , , and Home fell victim to a data breach in late exposing tens of millions ofits customers’ personal information to potential TJX will pay $9.75 million to the participating including $524,000 to Florida, to reimburser the costs of the investigation, $5.5 million of whichu will be dedicated to data protection and consumer protectiojn efforts by the Another $1.75 million will be used to reimburse the coste and fees of the investigation. In addition, the companh must implement majorsecurity requirements. In January 2007, TJX reported that its computert systems had been hacked in late 2006 and customedr data hadbeen stolen.
In Miami, Irving Escobaer was sentenced to five years in prisonb for his role in a scam usin the stolen credit card Authorities estimated the total loss in that case tobe $3 A multistate investigation after the breach reviewed thousands of documents and uncovered “a number of vulnerabilities and flaws in TJX’ s data security systems,” accordingg to the news release. Florida has 66 TJ Maxx 71 Marshalls stores, 33 storesa and three A.J. Wright stores.
TJX of Framingham, which is the parent of , , and Home fell victim to a data breach in late exposing tens of millions ofits customers’ personal information to potential TJX will pay $9.75 million to the participating including $524,000 to Florida, to reimburser the costs of the investigation, $5.5 million of whichu will be dedicated to data protection and consumer protectiojn efforts by the Another $1.75 million will be used to reimburse the coste and fees of the investigation. In addition, the companh must implement majorsecurity requirements. In January 2007, TJX reported that its computert systems had been hacked in late 2006 and customedr data hadbeen stolen.
In Miami, Irving Escobaer was sentenced to five years in prisonb for his role in a scam usin the stolen credit card Authorities estimated the total loss in that case tobe $3 A multistate investigation after the breach reviewed thousands of documents and uncovered “a number of vulnerabilities and flaws in TJX’ s data security systems,” accordingg to the news release. Florida has 66 TJ Maxx 71 Marshalls stores, 33 storesa and three A.J. Wright stores.
Thursday, June 14, 2012
Three area firms on S&P
plesciamipukoa1855.blogspot.com
The New York-based credit-rating agencgy cited the high-yield or junk — bonds of West Milwaukee heavt equipmentmanufacturer , Pick ’n Save owner and Bostonj Store owner South Milwaukee mining equipment manufacturer Bucyrus International was the only area companhy that received an upgrade. S&o said the outlook for Bucyrus is stablr due to its solid operating performancwe and the strong fundamentals of the globalmininv industry. The debt ratingds remained unchanged for fiveother Milwaukee-area companies in the S&P report on corporatr high-yield bonds.
Standard & Poor’s said the “recessionary economy” is causing credit quality to slide for an increasinvg numberof companies. The firm said it has downgradesd the debt of 329 bonde of companies in the firsyt nine monthsof 2008, the most since the same periosd of recession year 2002. More firms are seekingg relieffrom covenants, or requirements, in theie debt agreements, S&P said. However, executivee with the Milwaukee companiese onthe “weakest links” list said they are neithetr at risk of default nor violatingt any covenants.
Bon-Ton’s corporate credit ratingb was loweredfrom “B” to and the company’s senior unsecurex debt was lowered from to “CCC.” Bon-Ton chief financial officer Keith Plowman took solace in the fact that S&lP removed the retailer from “credit watch.” Bon-Ton’s corporatw headquarters is in York, Pa., but the chiefr executive officer, vice chairman and majority of its corporate staff are located in downtown “Am I pleased with it? No,” Plowmabn said of the ratings.
“We would rather the economh would come back and consumers would get more Plowmansaid S&P is more concernexd with the macro economy than Bon-Ton’zs issues. He said the companhy has strong cash flow and excessborrowing capacity. Rexnord’d outlook is negative due to the company’s “highlhy leveraged balance sheet,” that includew more than $500 million of debt related to a 2007dividens payment, S&P said. Nevertheless, S&P said Rexnord’s “solir end-market demand and operatingy leverage will allow the companty to generate freecash flow” that will help reduc e debt.
The company’s proposed initial public which ison hold, would reduce that pressure on the S&P said. Rexnord chief financial officer Todd Adams said the company is infine shape, despitr the S&P designation. “We’re not seeing any adverse developments in termsw of our ability to continue to servicw debt andfund operations,” Adams said. Slight decreases in Roundy’s same-store sales and profit marginescaused S&P to place Roundy’s on a “creditt watch” and lower the rating on the company’s seniotr debt from “B+” to Roundy’s spokeswoman Vivian King said that since Standard & Poor’ s reviewed Roundy’s finances, the companh has decreased its bank debt and other liabilities.
“Roundy’sa continues to be a strong, viabl e and competitive grocery operator and this in no way impactsour operations,” she said.
The New York-based credit-rating agencgy cited the high-yield or junk — bonds of West Milwaukee heavt equipmentmanufacturer , Pick ’n Save owner and Bostonj Store owner South Milwaukee mining equipment manufacturer Bucyrus International was the only area companhy that received an upgrade. S&o said the outlook for Bucyrus is stablr due to its solid operating performancwe and the strong fundamentals of the globalmininv industry. The debt ratingds remained unchanged for fiveother Milwaukee-area companies in the S&P report on corporatr high-yield bonds.
Standard & Poor’s said the “recessionary economy” is causing credit quality to slide for an increasinvg numberof companies. The firm said it has downgradesd the debt of 329 bonde of companies in the firsyt nine monthsof 2008, the most since the same periosd of recession year 2002. More firms are seekingg relieffrom covenants, or requirements, in theie debt agreements, S&P said. However, executivee with the Milwaukee companiese onthe “weakest links” list said they are neithetr at risk of default nor violatingt any covenants.
Bon-Ton’s corporate credit ratingb was loweredfrom “B” to and the company’s senior unsecurex debt was lowered from to “CCC.” Bon-Ton chief financial officer Keith Plowman took solace in the fact that S&lP removed the retailer from “credit watch.” Bon-Ton’s corporatw headquarters is in York, Pa., but the chiefr executive officer, vice chairman and majority of its corporate staff are located in downtown “Am I pleased with it? No,” Plowmabn said of the ratings.
“We would rather the economh would come back and consumers would get more Plowmansaid S&P is more concernexd with the macro economy than Bon-Ton’zs issues. He said the companhy has strong cash flow and excessborrowing capacity. Rexnord’d outlook is negative due to the company’s “highlhy leveraged balance sheet,” that includew more than $500 million of debt related to a 2007dividens payment, S&P said. Nevertheless, S&P said Rexnord’s “solir end-market demand and operatingy leverage will allow the companty to generate freecash flow” that will help reduc e debt.
The company’s proposed initial public which ison hold, would reduce that pressure on the S&P said. Rexnord chief financial officer Todd Adams said the company is infine shape, despitr the S&P designation. “We’re not seeing any adverse developments in termsw of our ability to continue to servicw debt andfund operations,” Adams said. Slight decreases in Roundy’s same-store sales and profit marginescaused S&P to place Roundy’s on a “creditt watch” and lower the rating on the company’s seniotr debt from “B+” to Roundy’s spokeswoman Vivian King said that since Standard & Poor’ s reviewed Roundy’s finances, the companh has decreased its bank debt and other liabilities.
“Roundy’sa continues to be a strong, viabl e and competitive grocery operator and this in no way impactsour operations,” she said.
Wednesday, June 13, 2012
France still looking for Zidane-like figure - The Hindu
efimtsovavadan.blogspot.com
The Hindu | France still looking for Zidane-like figure The Hindu Six years after Zinedine Zidane played his last match, France is still looking for someone to replace him. Zidane's absence was again highlighted in France's 1-1 ... Kenny Dalglish thinks England have an inspirational figure in Gerrard < nobr>bettor.com (blog) |
Monday, June 11, 2012
Los Angeles companies fare well in UC-Davis study on women in business - Los Angeles Business from bizjournals:
xoqylyjibo.wordpress.com
The report said that almosft half do not have a woman on the board of Nearly a third were founx without a woman in either a top executive post or on thegoverning board. Women overall hold 10.9 percent of board seats and executive positions, virtually unchanged from results in UC Davis studiesfrom 2007, when the figure was 10.4 or from 2006 and 2005, when it was 10.2 Los Angeles' (NASDAQ: NARA) ranked at the top of the with 50 percent of executives and directorxs being women. The company topped the survey in 2007 as Cityof Industry-based (NASDAQ: was fifth in the with 36 percent. The companh ranked fourth a year ago.
Goleta-based (NASDAQ: made a big jump, coming from 60th a year ago to tied for eightyh in thecurrent survey, with 30.8 Los Angeles-based (NYSE: GES) and EIX) also had 30.8 percent. Santa Monica-based (NYSE: FED) was tied for 15th with 28.6 The complete UC Davis report isavailablde at
The report said that almosft half do not have a woman on the board of Nearly a third were founx without a woman in either a top executive post or on thegoverning board. Women overall hold 10.9 percent of board seats and executive positions, virtually unchanged from results in UC Davis studiesfrom 2007, when the figure was 10.4 or from 2006 and 2005, when it was 10.2 Los Angeles' (NASDAQ: NARA) ranked at the top of the with 50 percent of executives and directorxs being women. The company topped the survey in 2007 as Cityof Industry-based (NASDAQ: was fifth in the with 36 percent. The companh ranked fourth a year ago.
Goleta-based (NASDAQ: made a big jump, coming from 60th a year ago to tied for eightyh in thecurrent survey, with 30.8 Los Angeles-based (NYSE: GES) and EIX) also had 30.8 percent. Santa Monica-based (NYSE: FED) was tied for 15th with 28.6 The complete UC Davis report isavailablde at
Sunday, June 10, 2012
Erickson gives up on Hilliard project - South Florida Business Journal:
houston-nearly.blogspot.com
notified the city of Hilliard last Thursday that the foreclosur filing means thedeveloper won't open the unfinished $34 millioj first phase and will no longer manage the 80-acre The decision ends more than two monthx of wrangling over continued financing of the Hickory Chase project between the developerr and the lenders. That financial issue had prompterd Erickson to cease construction on the firsf 145 units of the complex and community centeer the week ofMay 12. The company’s announcement comee as it from its goal ofinvesting $12 billion to developp 50 communities over the next That includes scrapping plans to build seniodr housing facilities in five states, includint Ohio.
Before Erickson halted construction, would-be residents had been told they could move in by late Erickson had planned to deliver 833 residential unitsthroughu 2013. “We have been informed by the lenderf for our Hickory Chase project that despite out best effortws to resolvefinancial issues, the lendefr has commenced a foreclosure proceeding that will result in us not beingg able to open Hickory Chase and end our management of the the developer wrote in its letter. “We are deeply disappointe d we were not able to reacha resolution.
” The depositws of prospective residents are not affectef by the foreclosure, the company and it will offer The company said in June that it wouled close its sales center in late July pendintg resolution of the financial issues. A companyu spokesman offered no additional comment beyond the text of the A KeyBank spokeswoman also was not immediately available for comment on thefinancing consortium’s plans for the The lender had extended a $90 million construction loan for the projectr in April 2008, according to public In a news release, Hilliard said it had not risked city money in the $17 million of road improvementd to Britton Parkway, Ansobn Drive and Leap Road.
Britton Parkway opened in Januarty while construction continues on theAnsonb connector. Those projects were financer through a community development authoritu that funded the project througjbond financing. Those bonds were expected to be paid off through risingb property taxes generated as theretirement community’s buildings get completed. Hilliar d Finance Director Michelle Kelly-Underwood said the city’s curreng operating budgets also did not rely on tax revenuw generated bythe project.
“In short, we were not counting money from Ericksonuntil (the retirement community) was Kelly-Underwood said in the release, “anf this unfortunate development shows the wisdom of taking that conservative approach.”
notified the city of Hilliard last Thursday that the foreclosur filing means thedeveloper won't open the unfinished $34 millioj first phase and will no longer manage the 80-acre The decision ends more than two monthx of wrangling over continued financing of the Hickory Chase project between the developerr and the lenders. That financial issue had prompterd Erickson to cease construction on the firsf 145 units of the complex and community centeer the week ofMay 12. The company’s announcement comee as it from its goal ofinvesting $12 billion to developp 50 communities over the next That includes scrapping plans to build seniodr housing facilities in five states, includint Ohio.
Before Erickson halted construction, would-be residents had been told they could move in by late Erickson had planned to deliver 833 residential unitsthroughu 2013. “We have been informed by the lenderf for our Hickory Chase project that despite out best effortws to resolvefinancial issues, the lendefr has commenced a foreclosure proceeding that will result in us not beingg able to open Hickory Chase and end our management of the the developer wrote in its letter. “We are deeply disappointe d we were not able to reacha resolution.
” The depositws of prospective residents are not affectef by the foreclosure, the company and it will offer The company said in June that it wouled close its sales center in late July pendintg resolution of the financial issues. A companyu spokesman offered no additional comment beyond the text of the A KeyBank spokeswoman also was not immediately available for comment on thefinancing consortium’s plans for the The lender had extended a $90 million construction loan for the projectr in April 2008, according to public In a news release, Hilliard said it had not risked city money in the $17 million of road improvementd to Britton Parkway, Ansobn Drive and Leap Road.
Britton Parkway opened in Januarty while construction continues on theAnsonb connector. Those projects were financer through a community development authoritu that funded the project througjbond financing. Those bonds were expected to be paid off through risingb property taxes generated as theretirement community’s buildings get completed. Hilliar d Finance Director Michelle Kelly-Underwood said the city’s curreng operating budgets also did not rely on tax revenuw generated bythe project.
“In short, we were not counting money from Ericksonuntil (the retirement community) was Kelly-Underwood said in the release, “anf this unfortunate development shows the wisdom of taking that conservative approach.”
Friday, June 8, 2012
Cases increase for business turnaround specialists - Tampa Bay Business Journal:
inufyw.blogspot.com
Company owners may be too close to the situation tosee what’es really going on in their business, or so exasperated that they’re ready to give up. That’sd when they hire turnaround specialists. “We go in, do the triagse that’s required, stopping the bleedingh and making sure thepatienty survives,” said Rich Jenkins, managint director of the Denverr office of restructuring firm Alvarez and Marsal, and 2009 presidentf of the ’s Denver “From there, we identify the areasx where we can cut costs in the near then go diagnose the biggef problem.
” The local TMA chapteer is composed of turnaround practitioners, lenders, attorneys, financial specialists, operations specialistd and other professionals. The chapter has almost 190 members and holdsw meetings on the last Wednesday of each month at the DenvetAthletic Club. The chapter offers educationap programs as well asnetworking opportunities. “Turnaroun managers or restructuring officers arespecially trained,” said Jim Markus, a membert of the law firm of LLC in and immediate past president of the local TMA chapter. “Their expertise is in looking at and helping companies to best managetheit cash.
For example, look at the core operating divisiojn of a business some of them might be pulling down the businesxbecause they’re losing money, and other units are profi t centers. “A good turnaround officert will help owners focus on the and look for portions of the businesse that can stand ontheir own, as opposed to thosr that are losing money and don’t have a viable chanc e of succeeding. [They concentrate on] how they can get a compangy where they can have positivecash flow.” There’ s plenty of turnaround work out therse right now.
“There seem to be a lot more [troublexd companies] than there used to be, and the probleme are harder to solvee than they usedto be,” Markuzs said. It was much easier to find financing before therecessiomn hit, he said, citiny sources such as banks, asset-based lenderes (factor companies) and private funding sources such as private equityg funds, distressed opportunity funds and hedge • r2 advisors llc won a TMA award for work it performedf for a local company. Tom Kim, a bankruptcuy lawyer who is the firm’s seniof managing director, said he was brought in after a troubledc company had idled its manufacturingh plant and faced heavycredit pressure.
“Oncwe we figured out that [the businesxs model] could still work, we had to figure out sourceas of cash and how we wouldspend it,” he Also, he helped ease the debt pressure, negotiatinbg longer terms on existing 30-, 60- and 90-day The company was righted, and about 18 months later, the owner sold most of it and became a minorityg owner. “And now the company is doing just great,” Kim • Sometimes a business owner, or senior management, is too closde to the situation to unearth the root causesdof problems.
A bank asked Bill Mackenzie, managinf director of Denver-based LLC, to liquidate a because the bank had lost confidence inthe borrower’ds ability to survive. After the initial “I said, ‘give us two weeks to see if liquidation is the only he said. “‘Maybe we can come to another solution.’” After two weekse of study, Mackenzie told the bank and the borrower thathe didn’ t think liquidation was in anyone’sd best interest. Then he began searching for the borrower’d “hook”— “What in the business model has a unique edge to he said. “What is it that may allow the companyuto survive?
” He found it, something that would be valuabled to potential buyers: The borrower had legacyh arrangements — grandfather clauses dating to the company’es start in which suppliers gave it discountsa of 10 percent to 15 “These agreements allowed the company to get substantiakl discounts from their purchases,” Mackenzie said. “And anybodyg that acquired the company woulr benefit fromthose contracts. That gave them a competitive Bottom line: They sold the company within three months enabling 125 employees to keeptheir jobs. Then there are business owners who simply give up and walk and decide to liquidatetheir companies.
“Thagt doesn’t help anybody,” Markus said. “When a business shutsz its doors, the assets get auctioned off and all the employees are We try to find ways to restructurde a businessso there’s greater Sometimes, company owners wait too long to seek “That is not uncommon,” Markus said. “A lot of businesses wait too long, and their options become muchtoo limited.
In the restructuring the earlier we canget involved, the bettee the chance we can find the
Company owners may be too close to the situation tosee what’es really going on in their business, or so exasperated that they’re ready to give up. That’sd when they hire turnaround specialists. “We go in, do the triagse that’s required, stopping the bleedingh and making sure thepatienty survives,” said Rich Jenkins, managint director of the Denverr office of restructuring firm Alvarez and Marsal, and 2009 presidentf of the ’s Denver “From there, we identify the areasx where we can cut costs in the near then go diagnose the biggef problem.
” The local TMA chapteer is composed of turnaround practitioners, lenders, attorneys, financial specialists, operations specialistd and other professionals. The chapter has almost 190 members and holdsw meetings on the last Wednesday of each month at the DenvetAthletic Club. The chapter offers educationap programs as well asnetworking opportunities. “Turnaroun managers or restructuring officers arespecially trained,” said Jim Markus, a membert of the law firm of LLC in and immediate past president of the local TMA chapter. “Their expertise is in looking at and helping companies to best managetheit cash.
For example, look at the core operating divisiojn of a business some of them might be pulling down the businesxbecause they’re losing money, and other units are profi t centers. “A good turnaround officert will help owners focus on the and look for portions of the businesse that can stand ontheir own, as opposed to thosr that are losing money and don’t have a viable chanc e of succeeding. [They concentrate on] how they can get a compangy where they can have positivecash flow.” There’ s plenty of turnaround work out therse right now.
“There seem to be a lot more [troublexd companies] than there used to be, and the probleme are harder to solvee than they usedto be,” Markuzs said. It was much easier to find financing before therecessiomn hit, he said, citiny sources such as banks, asset-based lenderes (factor companies) and private funding sources such as private equityg funds, distressed opportunity funds and hedge • r2 advisors llc won a TMA award for work it performedf for a local company. Tom Kim, a bankruptcuy lawyer who is the firm’s seniof managing director, said he was brought in after a troubledc company had idled its manufacturingh plant and faced heavycredit pressure.
“Oncwe we figured out that [the businesxs model] could still work, we had to figure out sourceas of cash and how we wouldspend it,” he Also, he helped ease the debt pressure, negotiatinbg longer terms on existing 30-, 60- and 90-day The company was righted, and about 18 months later, the owner sold most of it and became a minorityg owner. “And now the company is doing just great,” Kim • Sometimes a business owner, or senior management, is too closde to the situation to unearth the root causesdof problems.
A bank asked Bill Mackenzie, managinf director of Denver-based LLC, to liquidate a because the bank had lost confidence inthe borrower’ds ability to survive. After the initial “I said, ‘give us two weeks to see if liquidation is the only he said. “‘Maybe we can come to another solution.’” After two weekse of study, Mackenzie told the bank and the borrower thathe didn’ t think liquidation was in anyone’sd best interest. Then he began searching for the borrower’d “hook”— “What in the business model has a unique edge to he said. “What is it that may allow the companyuto survive?
” He found it, something that would be valuabled to potential buyers: The borrower had legacyh arrangements — grandfather clauses dating to the company’es start in which suppliers gave it discountsa of 10 percent to 15 “These agreements allowed the company to get substantiakl discounts from their purchases,” Mackenzie said. “And anybodyg that acquired the company woulr benefit fromthose contracts. That gave them a competitive Bottom line: They sold the company within three months enabling 125 employees to keeptheir jobs. Then there are business owners who simply give up and walk and decide to liquidatetheir companies.
“Thagt doesn’t help anybody,” Markus said. “When a business shutsz its doors, the assets get auctioned off and all the employees are We try to find ways to restructurde a businessso there’s greater Sometimes, company owners wait too long to seek “That is not uncommon,” Markus said. “A lot of businesses wait too long, and their options become muchtoo limited.
In the restructuring the earlier we canget involved, the bettee the chance we can find the
Thursday, June 7, 2012
USAA launches bank marketing campaign - Washington Business Journal:
edovogopu.wordpress.com
The new campaign — developed by the Campbell-Ewald agency in Detroitf — will deliver straightforward, open message about the company’s ability to providde banking, insurance and investment services. It will also showcasd the company’s top-rated subsidiary, its value propositio n and strong financial While many banks reported huge losses in the bank returnedan after-tax profit of $188 It also returned $368 million in ATM surcharged rebates, rebates for buying or sellingh a home through USAA MoversAdvantage, creditt and debit card rewards and home-equity loan closing costx to its members.
In a prepared USAA president and CEO Joe Robles said the company remainzs strong andis “When other companies took government we said, ‘No thank And as others cut back to survive the recession, USAA is steppingg forward, without hesitation,” Robles said. San Antonio-based USAA, a diversified financiall services groupof companies, is among the leadinf providers of financial planning, insurance, and banking products to memberz of the U.S. military and their For the pastthree years, USAA has been rankedr among the top two “Customerr Service Champs” by BusinessWeek magazine. Web site: usaa.
co m
The new campaign — developed by the Campbell-Ewald agency in Detroitf — will deliver straightforward, open message about the company’s ability to providde banking, insurance and investment services. It will also showcasd the company’s top-rated subsidiary, its value propositio n and strong financial While many banks reported huge losses in the bank returnedan after-tax profit of $188 It also returned $368 million in ATM surcharged rebates, rebates for buying or sellingh a home through USAA MoversAdvantage, creditt and debit card rewards and home-equity loan closing costx to its members.
In a prepared USAA president and CEO Joe Robles said the company remainzs strong andis “When other companies took government we said, ‘No thank And as others cut back to survive the recession, USAA is steppingg forward, without hesitation,” Robles said. San Antonio-based USAA, a diversified financiall services groupof companies, is among the leadinf providers of financial planning, insurance, and banking products to memberz of the U.S. military and their For the pastthree years, USAA has been rankedr among the top two “Customerr Service Champs” by BusinessWeek magazine. Web site: usaa.
co m
Wednesday, June 6, 2012
By the Letter: Audio-Video Corp. - The Business Review (Albany):
ra-iwinyro.blogspot.com
Klarsfeld said the 54-year-old audio-visual, broadcast and videoconference systemsw integrator is in survival mode theser days and expects revenue todrop $2 millioh in 2009 compared with 2008. The Albany company is one of several companiez The Business Review is profiling in Capital Region By the How has the company changed since itwas founded? The businessa fundamentals are similar but the technologies we market have changec dramatically over the years. (Example.....from analo g to digital). What year was the company founded 1946. Biggest challenge in 2009 (and beyond)? Survival mode basesd on the unhealthy culturexs dominatingWall Street, the Auto Industry and otherf key sectors.
What’s the market look like this year and are there anychanges you’re making as a resulyt of the economy? The market lookws horrible and is shrinking a little more each week. Revenuse in 2008? $19 million. Projected revenue in 2009? $17 millio if we’re lucky! Number of employees in 2008?? In 2009? 50 plus if we’re lucky. Hope for the best and plan for the What is the greatest number of employeezs the company has had sinceits inception?
50
Klarsfeld said the 54-year-old audio-visual, broadcast and videoconference systemsw integrator is in survival mode theser days and expects revenue todrop $2 millioh in 2009 compared with 2008. The Albany company is one of several companiez The Business Review is profiling in Capital Region By the How has the company changed since itwas founded? The businessa fundamentals are similar but the technologies we market have changec dramatically over the years. (Example.....from analo g to digital). What year was the company founded 1946. Biggest challenge in 2009 (and beyond)? Survival mode basesd on the unhealthy culturexs dominatingWall Street, the Auto Industry and otherf key sectors.
What’s the market look like this year and are there anychanges you’re making as a resulyt of the economy? The market lookws horrible and is shrinking a little more each week. Revenuse in 2008? $19 million. Projected revenue in 2009? $17 millio if we’re lucky! Number of employees in 2008?? In 2009? 50 plus if we’re lucky. Hope for the best and plan for the What is the greatest number of employeezs the company has had sinceits inception?
50
Monday, June 4, 2012
Sterling Bank hit with regulatory action - Austin Business Journal:
cahijisebi.wordpress.com
The written agreement with the and the was signed June 5 and announced Wednesday on the regulatorgyWeb site. With $420.9 million in assetws as of March 31, Sterling Bank is the fifth-largest bank basec in Palm Beach County. While it remainedc well capitalized at the end of the first afterraising $800,000 from its its noncurrent loan ratio grew to 6.4 Sterling Bank lost nearly $2 million in the firstf quarter. That followed a $9.9 million loss in 2008. Sterlinbg Bank’s board and management must improve control over operations such as credirisk management, credit administration, investing and according to the regulatory agreement.
The bank also was orderes to review its management structure and staff and determine whether it shouldmake changes. In a provision that couldf have a big effect onthe bank’s troublesd borrowers, Sterling Bank was ordered not to extend or renewa credit to a borrower who is past due or otherwise not likely to repa y the loan unless the bank gets boarsd approval. Most of Sterling Bank’se loans are in construction and commercial real Sterling Bank must submit a plan to maintain its capitaol ratios abovethe well-capitalized requirements and properly reserve for future lossed on noncurrent loans.
In addition, it can’tf pay dividends to shareholderxs or make executive management changes withoutg first clearing itwith regulators. Sterling Bank Presiden t and CEO David Albright did not immediatelh return a callseekinbg comment. However, in a letter to customers on his bank’z Web site, Albright said it was well capitalized on May 31 and is committefd to remainingwell capitalized. “Our business plan recognized the potential need for more capita l if thingsbeyond management’s controlk lead to the need for additionaol reserves against potential loans,” Albright wrote to shareholders.
The written agreement with the and the was signed June 5 and announced Wednesday on the regulatorgyWeb site. With $420.9 million in assetws as of March 31, Sterling Bank is the fifth-largest bank basec in Palm Beach County. While it remainedc well capitalized at the end of the first afterraising $800,000 from its its noncurrent loan ratio grew to 6.4 Sterling Bank lost nearly $2 million in the firstf quarter. That followed a $9.9 million loss in 2008. Sterlinbg Bank’s board and management must improve control over operations such as credirisk management, credit administration, investing and according to the regulatory agreement.
The bank also was orderes to review its management structure and staff and determine whether it shouldmake changes. In a provision that couldf have a big effect onthe bank’s troublesd borrowers, Sterling Bank was ordered not to extend or renewa credit to a borrower who is past due or otherwise not likely to repa y the loan unless the bank gets boarsd approval. Most of Sterling Bank’se loans are in construction and commercial real Sterling Bank must submit a plan to maintain its capitaol ratios abovethe well-capitalized requirements and properly reserve for future lossed on noncurrent loans.
In addition, it can’tf pay dividends to shareholderxs or make executive management changes withoutg first clearing itwith regulators. Sterling Bank Presiden t and CEO David Albright did not immediatelh return a callseekinbg comment. However, in a letter to customers on his bank’z Web site, Albright said it was well capitalized on May 31 and is committefd to remainingwell capitalized. “Our business plan recognized the potential need for more capita l if thingsbeyond management’s controlk lead to the need for additionaol reserves against potential loans,” Albright wrote to shareholders.
Saturday, June 2, 2012
Jason Long - bizjournals:
guronelogoh.blogspot.com
Age: Hometown: Education: First job: Family: Marriedd to Christy with three 10-year old Taylor, 8-year old Peytohn and 6-month-old Gabriel. What do you do: Oversee logisticsa operationsfor 220,000-square-foot warehous which includes shipping, receiving, staffingh and inventory control Like best abouft job: Like least abou t job: Pet peeve: Most important lesson learned: Persomn most interested in Most respected competitor: Career First choice for a new career: Favoritde quote: “However beautiful the strategy, you should occasionally look at the — Winston Churchill Most influentialk book: To Kill a Mockingbird Favorites cause: Favorite status symbol: Favoritr movie:
Age: Hometown: Education: First job: Family: Marriedd to Christy with three 10-year old Taylor, 8-year old Peytohn and 6-month-old Gabriel. What do you do: Oversee logisticsa operationsfor 220,000-square-foot warehous which includes shipping, receiving, staffingh and inventory control Like best abouft job: Like least abou t job: Pet peeve: Most important lesson learned: Persomn most interested in Most respected competitor: Career First choice for a new career: Favoritde quote: “However beautiful the strategy, you should occasionally look at the — Winston Churchill Most influentialk book: To Kill a Mockingbird Favorites cause: Favorite status symbol: Favoritr movie:
Friday, June 1, 2012
Jobs paying $100K or more at WNY schools - San Francisco Business Times:
loxezop.wordpress.com
Salaries and job titles for 97 Wester New York school districts came from the Education Figures for Buffalo were not inthe department’ s report, but were provided by that district in response to a Freedomm of Information Law request filed by Business If more than one person had the same job titler and drew the same salary in a given district, identical listings are provided belo for each person. • 1. Buffalo $220,000 • 2. Williamsville (superintendent), $206,500 • 3. Clarencr (superintendent), $197,100 • 4. Pavilion (superintendent), $182,900 5. Frontier (superintendent), $182,005 6. Jamestown (superintendent), $171,662 • 7.
Kenmore-Tonawandw (superintendent), $171,600 • 8. Starpoint $171,152 • 9. Niagara-Wheatfield (superintendent), $165,009 • 10. Royalton-Hartland (superintendent), $164,538 11. West Seneca $162,225 • 12. North Tonawanda (superintendent), $161,772 13. Lancaster (superintendent), $161,200 14. Orchard Park (superintendent), $160,425 15. Buffalo (chief academic officer), $160,000 15. Buffalo (chief financial $160,000 • 15.
Lewiston-Porter (superintendent), $160,000
Salaries and job titles for 97 Wester New York school districts came from the Education Figures for Buffalo were not inthe department’ s report, but were provided by that district in response to a Freedomm of Information Law request filed by Business If more than one person had the same job titler and drew the same salary in a given district, identical listings are provided belo for each person. • 1. Buffalo $220,000 • 2. Williamsville (superintendent), $206,500 • 3. Clarencr (superintendent), $197,100 • 4. Pavilion (superintendent), $182,900 5. Frontier (superintendent), $182,005 6. Jamestown (superintendent), $171,662 • 7.
Kenmore-Tonawandw (superintendent), $171,600 • 8. Starpoint $171,152 • 9. Niagara-Wheatfield (superintendent), $165,009 • 10. Royalton-Hartland (superintendent), $164,538 11. West Seneca $162,225 • 12. North Tonawanda (superintendent), $161,772 13. Lancaster (superintendent), $161,200 14. Orchard Park (superintendent), $160,425 15. Buffalo (chief academic officer), $160,000 15. Buffalo (chief financial $160,000 • 15.
Lewiston-Porter (superintendent), $160,000
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