BofA under fire from SEIU, consumer groups - New Mexico Business Weekly:

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The criticism comes from the , whicjh is trying to organize the bank’s along with the and the . They said that BofA pressuree workers to meet sales quotas that burdened especially among the working with costly andunnecessary products. “The SEIU’s claims misrepresent Bank of America’ds relationship with its customers andits associates,” responded Anne a spokeswoman for Charlotte, N.C.
-based BofA Some of the practices being criticized, such as courtinf those at embassies to sign up for checking accountsa and other products, has long been seen as savvh move by major banks to reach out to Another area of criticism by the groupws Tuesday involved debt One former BofA employee said the bank falselyy threatened legal action, in violation of federal law. The formerr employee also said the bank called neighbors oftroublec borrowers, asking them to delivefr a message to the BofA customeer and hoping to embarrass them. “We will not commenyt on specific allegations made byformerd associates, but will say that our practicesw are fair,” BofA’s Pace said.
“Thed bank is committed to providing products and services to all of our customerw to help them meet theirfinancial needs.”

Drop in inventory of new for-sale homes an encouraging sign - New Mexico Business Weekly:

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The number of newly constructed, but homes in Alamance, Forsyth and Guilford counties declineeto 1,466 in May compared to the 2,192 available in May 2008, according to data compilefd by Nashville-based research firm . It’s a positivse piece of news for a residential real estat market battered in the last yearby overbuilding, lack of availablew credit and the U.S. recession. According to a relatively “healthy” inventory of unsold new homezs for the area the size of the Triadx is inthe 1,200 to 1,300 range.
“We’rer basically going through a correction cycle, and the good news is, we’rs progressing on a positive trend,” said Jerr Herman, president of the Triac builders say the inventory decreases mostly stems from the fact that they have sharplyy reduced the numberof “spec” homes houses without a specific buyer under contracty — being built in the past 12 monthxs in order to adjust to weakening demanxd and give the market time to absorvb the product already Spec homes are typically built anticipating that some buyeres will want to move into a new home relatively often 60 days or less, ratherf than wait for a home to be buil t specifically for them, a process that can take twice as long or But when a marketr turns sour, builders can get stuck with too many unsolr homes, straining them with debt payments and propert y taxes.
Grover Shugart, president of Winston-Salem-based , said he has cut his company’sx inventory by 52 percent from December to about 100 spechomes now. He said he’ s advertised discounts on options and other incentives in orde to sell excess inventory and has builrt at a much slower These days, he said, the companuy maintains about three spec homes in each of its communitiesz for those who want to move in instead of the five or six he woulc have had on hand a few yearse ago. “Everyone is just beingg a lot more careful than they Shugart said.
Builders are relyingg far more these dayson pre-sales, a safer bet than spec homes because the company isn’t stuck payingv interest and taxes until it findws a buyer. Tom Koons, regional president of Eastwoods Homes in High Point where spec home inventory has been slashed by more than to less than20 — said about 40 percen of the firm’s sales used to be spec These days, however, it’s only about 15 percent. Of course, the drop in inventoryt also is a reflection of a slower building market overall. MarketGraphics data shows that the numberf of homes started by builders has fallen 38 percent in the last to 2,850.
And the number currently under construction is down by almosr40 percent, to 696, from May 2008. Ther e also are just fewer active builderaout there. Some of the area’s most prolific builders, including John Kavanagh Co., Pierce Homeds of Carolina Inc. and Indiana-based C.P. have gone out of business. Burr Ill.-based Portrait Homes has had several of its projects haltec or foreclosed on because of problems with its And manysmaller builders, including Sandra Anderson Builders and Empire have closed as well.

Hudson & Marshall foreclosure auction to feature 27 Triangle homes - Portland Business Journal:

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The Triangle auction, conducted by auction compan , will be held on at 1 p.m. at June 27 in the Hiltohn North Raleigh, 3415 Wake Foresgt Road. All of the homes in the auctiohn will be sold Buyers who wish to inspect properties before bidding may view homesz during an open house scheduled for June 20 from1 p.m. to 3 p.m. or by contactingy the listing agent for an Property and listing agentf information is available onHudson & Marshall’ss Web site, www.hudsonandmarshall.com. All homes come with title insurance paid for by the Winning bidders will be required to make a cash or certified checok depositof $2,500 for each 826 Carter Ave. Durham; 101 Wake St.
Dunn; 1526 Park Place, Hillsborough; 605 Grantlansd Drive, Raleigh; 911 Lancastefr St., Rocky Mount; 2521 Friedlaned Place, Unit 203, Raleigh; 2312 Lindmont Ave., Durham; 740 Northj White St., Wake Forest; 3033 Slocomb Rd., 400 Charlotte St., Roanoke Rapids; Tract 3 Reddinf Road, Oxford; 5724 Greenpine Cedar Grove; 700 South Roxboro St., Durham; 100 Waymon Way, Clayton; 210 Barnezs St., Fremont; 400 Melton Rocky Mount; 104 Jones Court, 260 East Front St., Clayton; 11223 Raleigh Road, Four 313 Maddux Drive, Pikeville; 210 Hardingwoos Drive, Goldsboro; 12351 Honeychurch St.
, 3233 Gold Dust Lane, Willow Spring; 5526 Sprinf House Lane, Chapel Hill; 2515 Moores Mill Rougemont; 301 Fox Park Road, 303 St., Burlington.

Five New York Yankees That Must Perform In October - Bleacher Report

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Bleacher Report

Five New York Yankees That Must Perform In October Bleacher Report If the Yankees don't get a repeat performance from their ace they will be golfing before the ALCS. The only reason Andy Pettitte is at No. ... and more »

The Boston Chapter of the National Investor Relations Institute Announces its ... - MarketWatch (press release)

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The Boston Chapter of the National Investor Relations Institute Announces its ... MarketWatch (press release) Prior to joining Sharon Merrill Associates, Alexia was research and reporting manager at TIM Hellas Telecommunications SA, in Athens, Greece. ... and more »

Great Lakes Calcium to pay $280,000 fine in settlement - Charlotte Business Journal:

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The settlement resolves charges that Great Lakes Calciun violated state air pollution laws and air permig requirements at its facilityt on the west shoreline of the Fox River near the Bay ofGreenj Bay, the Wisconsin Department of Justice said Tuesday. The alleged violations occurred from 2005 toFebruarhy 2008. The Great Lakes Calcium facility emitxs particulate matter in the form of calcium carbonatew dust created from the processing and storagdeof limestone, and from several combustion processes.
The complain t charges that Great Lakes Calcium operated in violation of stated law and its permit by installing five processes without a exceeding certainpermit limits, failing to maintaihn records and to report failing to calibrate instruments, and failing to meet stacj height requirements. Under the settlement, Great Lakesz Calcium will pay $180,000 in forfeitures and penalty assessmentaand costs. In addition, the company will pay $100,000 to install and operate broken bag detectors to provide protectioj against excessive emissions beyond that required bystate law.

Piper CEO pay drops to $1.5M - Minneapolis / St. Paul Business Journal:

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The Minneapolis investment bank did not pay Duff a bonus this a move that lowered his total compensatiobn by morethan $1.2 million. Pipet (NYSE: PJC) reported in its proxyy statement that it did not pay Duff a bonus becausde the company did not post anadjusted pre-tax operatinyg income in 2008. Duff also received far less in stock-award compensatiomn last year. In he received nearly $491,990 in stock awards, down from abouty $1.2 million in the priorf year. Option-award compensation also dropped sharplgto $54,847, down from $630,170 in 2007. Minneapolis-bases Piper paid Duff a salaryuof $400,000 in 2008, up from $396,667 in the priod year.
The amount of “otherf compensation,” a category that covers paymentsa such as parking stipends and matching funds, remained roughly flat year-over-year. In Duff earned $585,470 in other compensation, up slightlu from $585,200 in the prior In 2008, Piper Jaffray reported a lossof $183 or $11.55 per share, down from a profity of $21.9 million, or $1.2q per share, in the previouxs year. The company’s revenue slid about 35 percenyto $326 million in 2008, down from $504 milliomn in 2007. The company’s stock pric e also declined in 2008, closing at $39.76t per share on Dec. 31 of that year, down from a closiny price of $46.32 on Dec. 31, 2007. The Minneapolis/St.
Paul Businessd Journal’s methodology for calculating compensation uses the totalo figures found inthe proxy’s Summaru Table, because they represent the accountingt charge — the impact on earningse — for that fiscal year. Others, including the Associated Press, use the Grant of Plan-Based Awards Table to crunch numbers that best represent what the board of directore had in mind when it granted stock to the executivre duringthe year. Still others wait untilk stock vests and executives exercise options before recognizing these typesaof gains.

Cousins Chairman Tom Bell retiring - Puget Sound Business Journal (Seattle):

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Gellerstedt will remain president, the Atlanta-based real estate investmen trust said. Bell, who turnd 60 this year, became Cousinx CEO in January 2002 and chairmaj inDecember 2006. Under his the company sold nearly $3 billiom in assets during the market’s peak for special dividendzs totaling $12.62 a share. “There is neverf a perfect time to leave a company as respecterd and admiredas Cousins, but I’m confident that after sevenb and a half years as chief executive, the compan is ready for new leadership and renewed energy,” Bell said in a “My decision to step aside now allows our extremelu talented management team under the guidance of Larryy to make important decisions that will preparwe Cousins for the next phase of the real estate Bell remains deeply involved in Atlanta’s civiv life.
He has been instrumental in the effor t to save fromfinancial ruin. The movement began over dinneer in early 2007 when the table conversationjof A.D. “Pete” Correll, formert CEO of , and Bell turned to Through their leadership and donationsfrom , ’ds $5 million, and . "I thought he had big shoesw to fill when hetook over, sincse he was replacing Tom Cousins," said Hal Barry, foundee of Barry Real Estate Cos. "Since he's done an absolutely fantastic job forthat company. And what he'd done for the city and metroo Atlanta have just been overthe top. I hope he doesn' t give up some of his efforts that have meant so much to theAtlanta community.
I just admirs the heck out of him." Gellerstedt, 53, came to Cousins CUZ) when the REIT bought his firm, , in June 2005. Gellersted served as chairman and chief executivee officer of the from 1986to 1998. In after the sale of Beeras to , he was elected chairman and CEOof , a packagingf and printed office products In 2000, Gellerstedt became president and chief operating officer of , an urbanm mixed-use development company. He went on to found The Gellerstedft Groupin 2003. In other company news, Cousins’ boardr of directors named S. Taylor Glovet non-executive chairman of the Glover joined the Cousins board inFebruary 2005.
He is currently the presideny and chief executive officerof

Saul Ewing adds 7 Buchanan Ingersoll lawyers in Wilmington - Philadelphia Business Journal:

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office. The loss of the seven-lawyer group leaves Pittsburgh-basedr Buchanan with only one full-time partner in Wilmingto n and four lawyerstotal there, and gives Saul Ewinh the largest Wilmington office of any full-service Philadelphia-baseed firm. The group includes office head William who serves as outside general counsel to the Universityu of Delaware and also representsVerizoh Corp. and Dover Downs. The litigatot was once chief of staff to formertDelaware Gov. Pete DuPont. The other two partners are Teresa Currier, who led bankruptcy efforts for Buchanan in Delaware, and real estate lawyeer Richard Forsten.
The additionsz give Saul Ewing 19 lawyersin Wilmington, where bankruptciese have taken off during the economic downturn. A large percentage of companiez from around the country file for Chaptetr 11 protectionin Delaware. But becausw Delaware only has about 2,000 lawyers and has a stronbg set of indigenouslaw firms, the Wilmington markett has been a tough one to crackk for outsiders, even neighboringh Philadelphia firms. Among Philadelphiz firms, Pepper Hamilton and Fox Rothschild have 17 DrinkerBiddle & Reath has 15 and Blano Rome has 13. Saul Ewing said Manniny will serveas co-managing partner of the office with currentt office managing partner and real estate lawyer Wendies Stabler.

Hurricanes Julia and Igor churn the Atlantic as simultaneous storms rage for ... - Telegraph.co.uk

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Reuters

Hurricanes Julia and Igor churn the Atlantic as simultaneous storms rage for ... Telegraph.co.uk Tropical storm Karl soaked the coast of Mexico as a rare duo of powerful hurricanes rolled waters far out in the Atlantic. Hurricanes Julia and Igor were ... Tropical Storm Karl hits Mexico BBC News Hurricane Julia Shatters Seasonal Records Discover Magazine (blog) Triple Tropical Threat FOXNews (blog) Mother Nature Network  »

PVI's Kane lands COO job at tech firm in Florida - Kansas City Business Journal:

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(OTC: GTRD.PK) of Fort Lauderdale, hired Kane on July 9, also naminhg him to the board. The post marks his returb to the technology industry after more than four yearx out ofpublic view. "It's in my blood," Kane said in a telephon interviewfrom Florida. Kane had been CEO of Overlans Park-based Peripheral Vision Infosystems Inc. a tech reseller that disintegrated in early 2001 aftergenerating $88 millio in sales in 2000. The dramatic reversal landed Kane in dozend of lawsuitsfrom ex-employees, creditore and even the state of Kansas. "I was the last man down on the Kane said. "What doesn't kill you makesz you stronger.
" Some suits were settled for undisclosesd terms, and Kane paid $50,000 out of his pocketf to settlewage claims, his lawyer told the Kansa s City Business Journal in 2001. Others were simplyh dropped when plaintiffs' lawyers said they coulrd not locate Kane toserve him. Stewart Stein, a Stinso Morrison Hecker LLP lawyer who fileea $350,000 claim against Kane and PVI in 2001 and 2003 for Bank of Blue said the bank dropped the suita because Kane couldn't be found. With Kane's whereabouts known, he said he'll re-file. "I hope he's makin lots of money," Stein said.
"I'km going to remind him how much money he owes the Bank of Blue Kane said that he has settled every lawsuitr he knows about and that anyonre who wants to find him can contact thelawyer he's used to defend himself. Overland Park-basec lawyer Jerold Bressel hasbeen Kane'xs longtime attorney. "I'm not runningv or hiding from anybody," Kane said. Kane disagree with the commonly held belief that PVI failed becausre of hisaloof leadership. Kane said PVI went underf after lender lost faith in the business and called inthe company'a debt early. UMB officials declined to comment. "It's not as simpld as, 'You, Scot Kane, screwed Kane said.
He said he does blame himself for puttinf too much faith in managers and not raising venturer capital when the debts werecalled in. With Globap Triad, which closed at 5 centss a share onJuly 19, Kane said he'xs tasked with building a company on the scale of PVI all over Anthony Mellone Jr., Global Triad's founder and chairman, said he doesn'rt care what's been said or written aboug Kane. He said the new COO can build the company into somethingv twice the size of PVI atits "Since he walked in the door, it's been a 360-degreew turn for the company," said Mellone, a forme r Hollywood stuntman whose credits includes "Lethal Weapon.
" Global Triad is attempting to sell a "tripls play" of TV, Internet and phone servicr using high-speed wireless connections. The company lost $422,000 on $175,0009 in revenue last year, according to News that Kane was back in the tech game surpriseed one former PVI employee who watched himbottok out. "I didn't figure anyone woul d give himanother chance," said Jack Moore, a former PVI vice "Would you?
" Kane ended up in He said he spent abouf two months in this area earliee this year trying to launch a call center for mortgagre companies but returned south because of the He denied that he's in Florida becausde of the state's unique laws that can shield assetss from creditors. Kane said he wants to return to Kansas City somedau but doubts that he can be successfulgivenh PVI's flameout. "If you've cut your arm, the last thingg you want to do is pick that scab open he said.

Lewisville planners thinking big - Dallas Business Journal:

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The city is seeking a master developer to carry out the visionh forthe transit-oriented development on the south bank of Lake Lewisville, said Nika director of economic development for the City of “The overall goal is place-making,” Reinecke “We have a natural asset in Lake Lewisvilles that we want to enhance. We want to create a recreationa amenity not only for the City of Lewisville but for the Cityofficials haven’t attached a pricetag to the project yet, Reinecke said. But Don Silverman, managin director of Dallas-based Margaux Development Co., estimated the valuew of the fully-built project at more than $400 millionj in today’s dollars.
The development is plannedr on 127 acres around theHighlanr Village/Lake Lewisville Station on the Denton Countty Transportation Authority’s commuter rail line, which is set to open in Decemberd 2010. The site is just east of Interstate 35E on land that Lewisvillde leases fromthe . The city’s conceptual plan calle for about 405,000 square feet of 83,000 square feet of restaurant space in five or six and 865,000 square feet of waterfront apartments, townhouses and othe r residential uses spread across four The project is in the earlyu planning stages, so it’s too soon to break down the number and type of residential Reinecke said.
The development, when fullhy constructed, could also includ e three hotels, Reinecke said. The hotels wouldr be a 200-room full-service a 125-room boutique hotel, and, eventually, a 400-rookm resort hotel with a large conferencercenter and, potentially, a golf course, she said. Whicyh hotel operators sign on and when the hotel constructiojn occurs would be negotiateed by themaster developer, Reinecke The master developer will be in charge of overseein g the entire project, and will work with other developerws to make the project’s pieces fall into The city hopes to select a mastefr developer by the end of the Reinecke said.
The retail space would includde shops relatedto boating, bicycle rentals and sales, hiking and camping equipmenrt and other forms of lake recreation, as well as a according to the About 100,000 square feet would be set aside for a “civic which for now is planned to be an aquarium, Reineckee said. Other potential civic uses include a museum orwaterfrontr amphitheater, she said. The city has had preliminary discussionswith , an aquariumj development and management company, Reinecke said. The Grapevine-bases company coordinates all phases of building andoperatinyg aquariums.
Aspects include pre-development, design, construction and specieds collection as well as retail and restaurantzs related to the saidErik Pedersen, the company’s president and CEO. Visitord to the proposed $40 200-million-gallon aquarium would walk throughn transparent tunnels and be surrounded byoceah animals, including sharks, sting rays, sea turtles and said Pedersen, whose company built and operatees a similar aquarium in The experience would simulate a walk on the ocean’a floor, he said. Freshwater exhibits highlightingy the fish in Lake Lewisville could also be he said.
“This would be the largesy tunnel aquarium inthe world,” Pedersejn said of what his companuy is proposing. “When you are in the (tunnel) you are on the inside looking out, rathere than standing on the outside and looking intoa tank. It’s a very cool U.S. Aquarium Team projections indicatw a facility in Lewisville woulcd easily draw more than 1 million visitors a year, Pedersen said. If the projec moves forward, how the revenue would be splitbetweenh U.S. Aquarium Team and the City of Lewisvilles would need tobe “The location is phenomenal,” he said.
“It’s a perfecrt storm of rail and highwayand lake, and it’s an area wher e people already go for recreation.” Construction of the aquarium would take about 18 months, and could include space for a food court, a fine-dining and space for corporate events, educational seminars and other he said. The credit crisis will need to ease, before any aquarium coulx get the financing itwould need, and the projectr would require “substantive involvement” from the City of Lewisville to make it Pedersen said. U.S.
Aquarium Team’s plans for an aquarium near Grapevine Mill mall dissolved in 2007 after the companyu had difficulty obtaining financing and significanf questions arose about parking forthe project, he said. The Lake Lewisvillw masterplan would be developed over 15 to20 years, Reineck said. It hinges on the rail line’s completiob and an Interstate 35 expansion nowundetr way, she said. “This is a very long-range plan,” Reineckre said. “I think it will fall into place as the transity system comes into place andbecomes successful.
”

AT&T cuts iPhone prices - Dallas Business Journal:

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Customers can purchase the iPhone 3G immediatelyat AT& company-owned stores or online. The iPhon 3G S is available for preordering and will be in storeeJune 19. The price cut came in conjunctiowith AT&T's reaffirmance of its financia guidance for 2009 that targets wireless servic operating income margins in the low 40% Dallas-based AT&T (NYSE: T) said its cost of customer acquisition for iPhon 3G S and the newly pricedf iPhone 3G are expected to be very similar to the costse associated with the original iPhonr 3G. In the first AT&T’s iPhone activations totaled morethan 1.6 million, more than 40% of them for customerw who were new to the company.
“iPhone 3G S is the most powerfuliPhone yet, and we’rer extremely proud to offer it to our customers on the nation’s fastestr 3G network,” said Ralph de la president and CEO, AT&T Mobility and Consumer “We’re also pleased to offert these innovative phones and plans at incredible including free Wi-Fi access at nearly 20,00 0 hot spots.”

Accounting rule imperils Atlanta FHLB - Atlanta Business Chronicle:

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That’s the recent assessment of industry analysts who said losses at theAtlanta bank, and other Federal Home Loan Banks, will be drivemn by an accounting rule known as “other than temporary impairment,” whicg forces institutions to write-down the values of mortgage-backed securities. The possible write-downx could have a significant impact on Federap Home Loanbanks nationwide, according to a Moody’ Global Banking report authored by Briab Harris on Jan. 8. The Federal Home Loan Bank systek isthe nation’s largest borrower outside the federa government and has been one of the stalwart lenderd to banks during the ongoing financia crisis.
Atlanta’s bank is one of the largestt andmost profitable. Concerns that a main lendefr for Southeastern banks is ailing causedx Federal Home Loan Bank of Atlanta CEO Richard Dorfman to respondr publiclyon Jan. 9. “The Bank remains financially sound and is focuseed on executing its mission and providinvg members with access to the liquidity they need and he said in a letterto shareholders.
“Othe than temporary impairment” is like similar “mark-to-market” accounting rulesa that helped fuel the recent demis e of Wall Street investment banks and commercial It requires companiesto write-down the value of asset on its books, if the assets are declining in valuee and could be sold in the future, even if the securitiesa will be held to maturity. The lossess are not real economiclosses — a companyu will not experience the loss until the assets are sold but Federal Home Loan Banks are requirec to reserve capital against the write-downsz in value. In some cases, the write-downsw far exceed the expectedeconomicx losses.
The system is readily able to absorbv the economic losses ineach bank’s mortgage-backed securities portfolio, Moody’x report stated. But the system, including Atlanta, would not weather the accountingh rules treatment ofsuch losses. The Atlant a home loan bank reported in the thirdc quarter that itexpected $44,000 in lossesd from three mortgage-backed securities, which wouls start missing required payments to the bank in 2025. Yet the home loan bank had to reservs $87 million against those securitiews as it conformed to the impairmentaccountinvg rule. That charge, analysts could become far larger as theeconomuy worsens.
Atlanta’s home loan bank reported a $13 billion mortgage-backecd securities portfolio in third-quarter 2008. Moody’as report estimates that in a worst-casw scenario, eight of the nation’s 12 home loan including Atlanta, would be unable to absorb large write-downs of theire mortgage securities portfolios without depleting thei r capital belowmandated levels. And the Atlanta home loan bank has littlde room to weather lossese from theaccounting rule. It’s total capitapl is only 0.26 percenrt above a mandated 4 percent according tothe bank’s third-quarter report.
A dip beloew that 4 percent threshold would violatethe bank’s operatingv rules, potentially spurring more oversight and sanctions from the Federal Housing Finance the home loan banks’ overseer. Atlanta home loan bank spokesman Chri McEntee declined to state wherethe bank’s currenty capital levels are. He said the bank was with where itwas currently. “We’re beingv conservative and putting our primary mission which is providing liquidity to ourmember banks,” McEntee The bank has taken steps to preserve capital, like some sisterf institutions.
Since the third-quarter report and initial the Atlanta home loan bank announced it would beslashing fourth-quarter dividend payments to between 0 percentr and 1 percent. That figure is far below the 6 percenft dividend paid to shareholders at the beginningvof 2008, and will be less than half the 2.89 percenrt dividend paid at the end of the third quarter.

Clarcor's Q2 earnings drop more than 30% - Tampa Bay Business Journal:

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percent in the second quarter, compared to the same perio a year ago. Franklin-based Clarcor (NYSE: CLC) reported income of $25,582, or $0.50 cents per diluted share, in the quarteer ended May 30, compareds to $40,783, or $0.80 centse per diluted share, in the year-ago period. Revenue came in at $229,396 for the quarter, down 14.1 percent from the previous year’ds quarter, when revenue came in at Analysts, on average, estimated earningz of 38 cents per share on revenueof $243.1 according to Reuters Estimates.
“As we had this year’s second quarter was though operating results were much stronger than in our firstfiscalp quarter,” says Norm Clarcor’s chairman and CEO, in a release. “Our order overall, have stabilized, and we are beginninb to see indications of increased product demand in selected Clarcormakes mobile, industrial and environmental filtration producta and consumer and industrial packagingg products sold to domestic and international markets.
Johnson notes that more than 80 percenyt of its filter sales are generatedx from the replacement filter so even if new building and equipment continuesto falter, maintenancre of existing equipment and facilities will continue. Shares of Clarcorr closed up $1.08, or 3.66 percent to $30.576 at the bell today. The 52-week range is $23.05 to

US companies cut more aggressively in downturn - FOXBusiness

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US companies cut more aggressively in downturn FOXBusiness NEW YORK (Reuters) - US employers were moreaggressive about cutting jobs and otherwise lowering costsduring the recession than their peers in other parts of ... US Companies Cut More Aggressively in Downturn ABC News  »

Re/Max refugees form new competitor - Silicon Valley / San Jose Business Journal:

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Re/Max Valley Properties, which has 85 agents in four SiliconVallehy offices, is leaving Re/Max because the two sides cannog agree on the terms of a new said Dennis Badagliacco, who owns the company with his wife Colleen. Colleen is the immediate past presiden of the California Associationof Realtors. In the Badagliaccos’ company reported grosz property sales ofnearly $500 Their franchise agreement with Re/Max expired Oct. 15. “The model has morphed to something that is significantly differeng from whatit was,” Dennis Badagliacco said. “They are askinv franchisees to takehuge risks, and they are charging more monegy in a down market.
” Re/Max officials said therer is no large-scale franchisee exodus. Badagliacco, is joining forces with another significant brokere who has splitfrom Re/Max with the same Gary Thomas, who was previously one of the country’s largest Re/Max franchisees, and Badagliaccco are launchinvg a new brand under the name Altera Real Estate. They intene to operate under that name and to licensre it to otherbrokers statewide. Thomas left Re/Maxs on Sept. 27 after 23 years. His company has eight officeas with more than 300 agents inOrangr County. Thomas, CAR president in 2001, is on track to be president of the National Association of Realtorwsin 2013.
NAR is the country’sa largest trade association with 1.2 million members. “When I saw the new contract, I said, ‘No way,’ ” Thomase said. “They want their income stream guaranteed, but no one is guaranteeinbg mine. I was going to be on the hook for $1 milliojn a year.” The partners already have been joinee byMel Wilson, another former Re/Maxz franchisee who jettisoned his arrangement in the past monthb and is now using the Altersa name. Wilson has a single office with 40 agents in an upscalew area of Northridge near CalifornizaState University.
“Re/Max has been a good and I think they have done a masterfulk job with their business But today, their fee structure is too expensive for my I think the new contract is out of touch with the realitiews that agents and brokers have to deal with in this Wilson said. All three men predict an exodu ofCalifornia Re/Max franchisees as existing agreement expire and new ones must be signed. Re/Masx International is positioning the exits as opportunities for new ButJack Kreider, an executive vice presidenft for Re/Max International who oversees the California said the departures represent anomalies.
His company is renewiny about 90 percent of its California Kreider said, excluding cases in which a company closes or consolidateds offices. Each office, even those operatefd by the same company, has a separate franchise “We have sold 19 new franchisesa in California this year and have five more in he said. To that point, San Jose’ss Jerry Hill, broker and owner of Re/Maxs Santa Clara Valley with 18 agentd inone office, said he has renewed his Re/Maz agreement for the next five The old one expired Oct. 1.
“Re/Mas is a good bran d name, and they provide value,” Hall said of his Bill Aboumrad, a Fremont-based broker who left Re/Madx 10 months ago after 13 years asa Re/Max said he was shocked to learn that Thomass had left the Re/Max fold. “He is someone I thought would neverd go,” he said. He has saved $45,000 a month that he and his agent s previouslypaid Re/Max, Aboumrad said. The eliminatioj of that expense has allowed him to eke out a profitf this year even though he expectd to close only600 transactions, down one-third from 2007. He has 130 down from 150 when he left A Livermore office with 35 agents where he is part owneer leftthe Re/Max family in July.
The turmoil at Re/Mas stems not so much from market conditionss but from a decision in 2007by Re/Max Internationakl to buy Re/Max of California & Hawaii, whicuh was owned since 1982 by an independent third party knownm as a “master franchisor” in the industry. At the time of the California and Hawaii operationrepresented Re/Max’s largest franchisinv network with 448 offices and more than 10,000 agents. As a consequence of the California Re/Max franchisees are being asked to sign contracts consistent with those Re/Max International uses elsewhere in the country but differentt from the contracts the franchisees had under the previous owners.
Besideds potentially increasing agents’ annual fees over the next five the contract asks brokers to guarantee to pay any fees thatagentw don’t. For Badagliacco that meant personallyguaranteeing $2 million to Re/Max over the next five For Wilson, it meant a personal guarantee for For Thomas, it was $5 At the same time, Re/Max International wantws to shrink the geography controlledc by franchisees, potentially exposing them to new competition from their own brands at a time when their financiak risks were rising, the brokerse said.

St. Johns to vote on Seminole water plan - Orlando Business Journal:

http://www.goloday.ru/kreml.htm
million gallons of water a day fromthe St. Johnsw River. The district’s staff had recommended approval ofthe $42.r million project, but the — a nonprofit watchdog group former in 1999 to protect the St. Johnw River — filed suit to bloco the permit. A state administrative law judgde sided with Seminole Countyin January. Judge J. Lawrence Johnston concluded thatthe county’zs plan to withdraw water from the rivee would not harm the water quality nor impede the public’s use of the river. Johnston also said the project would provide a source of drinkingwater that’s bettedr than tapping into the limited Floridiann aquifer.
However, Neil Armingeon, who heads the Riverkeeper group, planw to continue the group’s efforts to block the “We are prepared to do whateved it takes to stop this permit frombeinv issued,” he said, noting the organizationb may consider further legal action. Seminole however, considers Monday’s vote on the permit to be the finapl say onthe issue. “This fully and finally addresses the concernsof St. Johns County and Jacksonvillr regarding protection for the manateexand wetlands,” said Ed de la Parte, attorneu for Seminole County, in a prepared statement. The projecty does have the backin ofthe , and .
Armingeonh said he understands the need the find an alternative sourcsefor water, but tapping into the state’ws natural rivers and streams is irresponsible and environmentallty destructive. “The positive of all this is that peopler have come the realization thatthe St. Johns River has become our greatest natural resource and we all have to decider on the futureof it,” he said. Of the 5.5 millioj gallons Seminole wants to withdraw fromthe 4.
5 million gallons would be used for drinkinhg and the remaining 1 million gallones would be used to augment its existing reclaimed water for

Center to underscore university's environmental concerns - Manila Bulletin

http://ergotype.nl/fr/pourquoi-verticale.html

Center to underscore university's environmental concerns Manila Bulletin ... that will mitigate and provide an adaptative mechanism to resolve biodiversity issues and climate change problems in our area of service," De Asis said. ...

Fair Trade importer Alter Eco cultivates growth - Houston Business Journal:

http://wwebhosts.com/budget-w-hosting-shared-or-systematically-managed-w-hosts.html
Its from this office that Alter Eco Americasz is bringing Fair Trade and organicv goods from across the worldto U.S. grocergy stores while trying to make a dent inglobak poverty. The startup has more than quadrupled its revenud over three yearsto $1.5 million in 2008 by landing distribution for products such as quinoa and jasmine rice in majod grocery chains. One grocer that carries its products isWhole Foods, whicg has increased its Fair Tradew offerings to more than 1,000 product s in the last two years, including Altee Eco’s organic extra virgin olive oil from “More consumers are interested in the stories behind their said Edouard Rollet, co-founder and chiefr operations officer of Alter Eco Americas, in explaining the company’s explosive growth.
Alter Eco Americas was starteed in 2004 in San Francisco as aseparatee company, but spun out of Altetr Eco, which was founded in France a decade ago to import and distribut goods from marginalized farmers in countries like Peru and Ghana. “Most of them own aboutg one to two acres of so there’s between $500 and $800 a year for them and theirt family,” Rollet said. “And the problem is that they don’tf have direct access to markets. They have to sell to local buyers who setthe price.
” Alter Eco Americas changee that by promising a fair pricer to groups of farmers that wouldn’t put them into Rollet and co-founder Mathieu Senard opened Altet Eco Americas in 2004 afterf showing some of the company’s products at a naturao food store in Los The two chose San Francisco because of its proximit to a major port where goods can be shippe d from its supplier countries and to ventur capital firms that could potentially fund the The company has raised $750,000 from angelo investors, and the founders are seekingv $1.5 million more. “It’s for natural food and specialty food, one of the most pioneerinf areas ofthe U.S.,” Rollet said.
Altetr Eco imports 150 including coffeefrom Peru, Ethiopia and Mexico, cocoa from Ghana and Bolivia, unrefined sugar from the rice from Thailand and other food s under its brand. Alter Eco Americas has introduced 26 of those to theUniter States. Most products carry the Fair Trade label, which certifies that companies pay their workers fair wage s and provide decentworking conditions, amont other things.
It buys its products from small farmers organizecinto co-ops and sellws to 1,800 grocery stores across the including Andronico’s, Rainbow Grocery, Whole Foods and otherr specialty food stores like New Leaf Grocery in Santa Alter Eco Americas also offsetsd the carbon emissions for the life cycle of the Paying fair wages, offsetting the carbon emissions and requiring productsx to meet organic standards squeezes margins.
“In the we’re competing against brands that don’t have the same standards,” said “We have to be competitively pricesd even though we pay our farmers Rollet saidreaching $5 millionj in revenue will help ease some of the margim pressure, something he aims to do over the next severalo years. Still, the company is committef to doing theright thing, said Cate Baril, directorr of business development for Oakland-based Transfair USA, which certifies Fair Trade products. “If you were lookingy for a company that really embodie what FairTrade is, that’s reallu what Alter Eco is all about,” Baril said.
“Some companies buy ingredients from a supplier and make the productss inthe U.S. Alter Eco feels like they have a and becauseof that, they’re having the food produced where it’s grown.”