dyakonostrlin.blogspot.com
The company announced that it struck an agreement withNew York–based private equity firm LLC to buy Eddise Bauer’s assets, subject to an auction and bankruptcy court CCMP Capital intends to operater the business as a going concern with littlr or no long-term debt. Accordinf to Eddie Bauer, CCMP Capital has agreed to keep a majoritgy of the 371 stores open and retain a majoritty ofthe employees. CCMP Capital specializes in buyouts and looks for investmentt opportunities in retail and other and have made investments in the outdoors specialtuyretailer Cabela’s, which sells hunting, fishingy and camping gear.
Eddi Bauer said it hopes to operatd business as usual during bankruptcyh court proceedings and has asked for courf approval to continue paying vendorsand workers. The companhy also said it intendsz to honor customergift cards, returns and loyaltyt program points. The company also announce d that it has secured a commitment from its existing revolving credit lenders, Bank of America, and /Business Credit, Inc. for so-called debtor-in-possession (DIP) financinfg of $90 million on an interim basidsand $100 million baseed on the final court The move, the company said, shouldc provide it with amplee cash flow to continue paying its bills.
“Eddi e Bauer is a good company with a greag brand and a badbalance sheet. This process will allow the business to emerge with far less positioned for growth as the economy recovers and as our new productsagain traction,” said Neil Fiske, Eddiee Bauer president and chief executiv e officer, in a statement. “Ww expect this process to be completed very protecting our employees and critical vendodr partners every step ofthe way.
“We have made good progresxs on our turnaround strategy of returninfg Eddie Bauer to its heritage as an active outdoorf brand and have exciting new product launches on the way to includingFirst Ascent, our returbn to expedition-grade outerwear and gear. a crushing debt burden placeed on the company from the Spiegel reorganizationin 2005, combinexd with the severe, prolonged have left us with no choice but to use this process to reduc e the debt load on the business.
”
Friday, June 29, 2012
Thursday, June 28, 2012
Donaldson profit falls 42% in Q3 - Nashville Business Journal:
aleshnikovenil.blogspot.com
Bloomington-based Donaldson said Tuesdagy its third-quarter earnings slippeed to about $27 million, or 34 cents per share. That’se down from a profit of $46 or 57 cents per share, during the same period last year. The results include a pre-tax restructuring charge wortb $6.8 million, or 6 cents per Donaldson cut 850 workers duringthe quarter; since the startf of its fiscal year, the company has shed 2,70 0 workers, or about 20 percent of its work Donaldson (NYSE: DCI) recorded third-quarter sales of $413 down nearly 30 percent from $588 million in the year-ago period.
Revenue was down across Donaldson’w business units, though sales of certain aerospacd and defense products performed better than in the same quarterof 2008. Analystd polled by Thomson Reuters had projected a profit of 30 cents per shard on revenueof $435 million. Such estimates typicallty exclude one-time charges. Donaldson also lowered its full-yea outlook Tuesday, with Bill Cook, company CEO, chairmann and president, saying in a presd statement that he expectsa the economy to remain soft in thecomingf months. The company is projectiny earnings ofbetween $1.556 and $1.70 per share for the year on revenue of betweenh $1.8 billion and $1.9 billion.
Previously, it had projecter a profit of between $1.70 and $1.99 per share. Analysts, meanwhile, had projectedx earnings of $1.71 per share and sales of $1.9 billion. Cook also said, given the tough economy, Donaldson may have to make toits “business plans and cost structurw as necessary.” Donaldson reported its resultse after market close.
Bloomington-based Donaldson said Tuesdagy its third-quarter earnings slippeed to about $27 million, or 34 cents per share. That’se down from a profit of $46 or 57 cents per share, during the same period last year. The results include a pre-tax restructuring charge wortb $6.8 million, or 6 cents per Donaldson cut 850 workers duringthe quarter; since the startf of its fiscal year, the company has shed 2,70 0 workers, or about 20 percent of its work Donaldson (NYSE: DCI) recorded third-quarter sales of $413 down nearly 30 percent from $588 million in the year-ago period.
Revenue was down across Donaldson’w business units, though sales of certain aerospacd and defense products performed better than in the same quarterof 2008. Analystd polled by Thomson Reuters had projected a profit of 30 cents per shard on revenueof $435 million. Such estimates typicallty exclude one-time charges. Donaldson also lowered its full-yea outlook Tuesday, with Bill Cook, company CEO, chairmann and president, saying in a presd statement that he expectsa the economy to remain soft in thecomingf months. The company is projectiny earnings ofbetween $1.556 and $1.70 per share for the year on revenue of betweenh $1.8 billion and $1.9 billion.
Previously, it had projecter a profit of between $1.70 and $1.99 per share. Analysts, meanwhile, had projectedx earnings of $1.71 per share and sales of $1.9 billion. Cook also said, given the tough economy, Donaldson may have to make toits “business plans and cost structurw as necessary.” Donaldson reported its resultse after market close.
Wednesday, June 27, 2012
Archway doubles in size with acquisition of Resolve division - Business Courier of Cincinnati:
younkinesagugad1746.blogspot.com
has completed its purchasde of the supply chain management divisionof Toronto’ s Resolve Business Outsourcing Income Fund. Archway paid about $21 millionb for the division ofResolvw (TSX: RBO.UN). The deal included client eight American locations and five Canadian as well as approximately800 employees, according to a press release from Resolve. As a result of the Archway has nearly doubled in size to annual revenuesz ofabout $200 million and closee to 1,500 employees and 3.5 millio n square feet of distribution space, Archwayg said in its presx release. Archway is a marketing operations management company that assists firms with rebates and consumer promotions.
It is also one of the largesty managers and inNorth America. Archway has more than 40 including Target, Mars, Ford, MasterCard, Subway, Taco and Microsoft. Resolve’s supply chain management division has approximatelyg 225 clientsincluding Honda, Miller Brewing, Pepsi, Staples, Philip Morris, Procter & Gamble and Kimberly-Clark. Archway said this deal will help it gain more economies of scalew and land more business in the turbulent fulfillmeny andpromotions industry. “Major brands are streamliningt their marketing resources and looking for partners they can count on to perform the work of multiple statedMike Moroz, president of Archway.
“Morse importantly, they need to be confidenr that their partners are going to be in businesse tomorrow andnext year.” Archway is privately held. In Novembeer 2008, Tailwind Capital Partners and Black Canyon Capital acquired the company along with the Archwaymanagement team.
has completed its purchasde of the supply chain management divisionof Toronto’ s Resolve Business Outsourcing Income Fund. Archway paid about $21 millionb for the division ofResolvw (TSX: RBO.UN). The deal included client eight American locations and five Canadian as well as approximately800 employees, according to a press release from Resolve. As a result of the Archway has nearly doubled in size to annual revenuesz ofabout $200 million and closee to 1,500 employees and 3.5 millio n square feet of distribution space, Archwayg said in its presx release. Archway is a marketing operations management company that assists firms with rebates and consumer promotions.
It is also one of the largesty managers and inNorth America. Archway has more than 40 including Target, Mars, Ford, MasterCard, Subway, Taco and Microsoft. Resolve’s supply chain management division has approximatelyg 225 clientsincluding Honda, Miller Brewing, Pepsi, Staples, Philip Morris, Procter & Gamble and Kimberly-Clark. Archway said this deal will help it gain more economies of scalew and land more business in the turbulent fulfillmeny andpromotions industry. “Major brands are streamliningt their marketing resources and looking for partners they can count on to perform the work of multiple statedMike Moroz, president of Archway.
“Morse importantly, they need to be confidenr that their partners are going to be in businesse tomorrow andnext year.” Archway is privately held. In Novembeer 2008, Tailwind Capital Partners and Black Canyon Capital acquired the company along with the Archwaymanagement team.
Monday, June 25, 2012
Backers unveil plan for Flagship Bank - The Business Review (Albany):
llrx-royce.blogspot.com
Organizers hope to raise at least $12 said Frank Burke, who would be president and CEOof Directors, including Jason K. Lesser, a real estate developer who is chairmanm of theorganizing group, have committe d $3 million, Burke said. Organizers includr Lesser; Burke, who was a senior officer at the formee Republic Bankin St. Carrie Beth Baris, a shareholder in the Tamp law firmof ; Dean a retired furniture store owner from Illinois now residinvg in New Port Richey; Joseph former CFO of ; Richard Gehring, real estate developer and former mayor of Frederick Hemmer, president of in Oldsmar and formerr executive officer of Republic Bank; William Kimpton, a partner in the Clearwater law firm of ; and Jeffreu Lazar, retired engineer.
Robert Jason, who was executivwe vice president and CFO at the former in Palm would be senior vice president for operationw and CFOat Flagship. Flagship Bank plans to open its firstt facility on Tampa Roadin Oldsmar, in a formed office that it pending regulatory approval. Burke said that opening is targeted for An application filed with the also requests approval for asecondr facility, which would be located in a new 42,000-square-foot Clasws A office building on U.S. Highway 19 North, southj of Curlew Road. Construction of the new building, which wouls bear the bank's name and featurer the bank as its anchor would begin in May and be completec by the first quarterof 2006.
Organizers hope to raise at least $12 said Frank Burke, who would be president and CEOof Directors, including Jason K. Lesser, a real estate developer who is chairmanm of theorganizing group, have committe d $3 million, Burke said. Organizers includr Lesser; Burke, who was a senior officer at the formee Republic Bankin St. Carrie Beth Baris, a shareholder in the Tamp law firmof ; Dean a retired furniture store owner from Illinois now residinvg in New Port Richey; Joseph former CFO of ; Richard Gehring, real estate developer and former mayor of Frederick Hemmer, president of in Oldsmar and formerr executive officer of Republic Bank; William Kimpton, a partner in the Clearwater law firm of ; and Jeffreu Lazar, retired engineer.
Robert Jason, who was executivwe vice president and CFO at the former in Palm would be senior vice president for operationw and CFOat Flagship. Flagship Bank plans to open its firstt facility on Tampa Roadin Oldsmar, in a formed office that it pending regulatory approval. Burke said that opening is targeted for An application filed with the also requests approval for asecondr facility, which would be located in a new 42,000-square-foot Clasws A office building on U.S. Highway 19 North, southj of Curlew Road. Construction of the new building, which wouls bear the bank's name and featurer the bank as its anchor would begin in May and be completec by the first quarterof 2006.
Sunday, June 24, 2012
Seattle mayor wants to end employee head tax - Phoenix Business Journal:
jiqatili.wordpress.com
Nickels proposed the $25-per-employee tax in 2006 as one of three elementsx of a package to fund local street repaie andadd sidewalks, bicycle lanes and other features. Repealinf it would reduce funding forthe “Bridgingv the Gap” program by about $4.7 million. “It’s Economics 101: when you tax you get less of it, and we want more jobs in said CouncilPresident Conlin. Reaction from the business communittwas swift. “This tax represents an ‘unwelcome mat’ for business, and it’s past time that the city rolledeit up,” said Kate Joncas, presiden t of the , which opposed the tax from the beginning.
“Taxingf new employees in Seattle sends the wrong message to businesses looking to grow and businesses looking to relocate to our she said. The also supported the repeal. “It sends a cleaer message that elected officials are targetin specific actions to retain and createa job-growinf economy,” said Chamber President & CEO Phil “We applaud Mayor Nickels and Councilmembers Burgesws and Conlin for their leadership and will be workingb with council to see it through.” The employee head tax has becomre a hot issue in this year’s races. At a recentf Downtown Seattle Associationcandidate forum, many candidatesz talked about repealing the tax.
It’s also a relativelyh easy target. The employee head tax, which appliew only to employees who drivee to work most ofthe time, has been bringingt in less money than Meanwhile, the commercial parking tax, which will increasde to 10 percent on July 1, has been bringing in more moneyu than expected. And a nine-year, $365 million property tax levy remaindsin place.
Nickels proposed the $25-per-employee tax in 2006 as one of three elementsx of a package to fund local street repaie andadd sidewalks, bicycle lanes and other features. Repealinf it would reduce funding forthe “Bridgingv the Gap” program by about $4.7 million. “It’s Economics 101: when you tax you get less of it, and we want more jobs in said CouncilPresident Conlin. Reaction from the business communittwas swift. “This tax represents an ‘unwelcome mat’ for business, and it’s past time that the city rolledeit up,” said Kate Joncas, presiden t of the , which opposed the tax from the beginning.
“Taxingf new employees in Seattle sends the wrong message to businesses looking to grow and businesses looking to relocate to our she said. The also supported the repeal. “It sends a cleaer message that elected officials are targetin specific actions to retain and createa job-growinf economy,” said Chamber President & CEO Phil “We applaud Mayor Nickels and Councilmembers Burgesws and Conlin for their leadership and will be workingb with council to see it through.” The employee head tax has becomre a hot issue in this year’s races. At a recentf Downtown Seattle Associationcandidate forum, many candidatesz talked about repealing the tax.
It’s also a relativelyh easy target. The employee head tax, which appliew only to employees who drivee to work most ofthe time, has been bringingt in less money than Meanwhile, the commercial parking tax, which will increasde to 10 percent on July 1, has been bringing in more moneyu than expected. And a nine-year, $365 million property tax levy remaindsin place.
Friday, June 22, 2012
Parsinen Law sold to Indianapolis firm - Dallas Business Journal:
eragywaqer.wordpress.com
Minneapolis-based Parsinen, founded in will officially become partof Indianapolis-based Barnees & Thornburg on July 1. The firm has 22 including 14 partners. Parsinen’s practicer areas include business litigation, commercial real estate, corporate law, employment law, employee and executivd benefits, personal legal planning and renewable Ina statement, Parsinen Managing Partner Howard Rubijn said the firm remained profitable, but increasingly has had to turn away busines that doesn’t fall into its core practice Barnes & Thornburg will help fill gaps in areas such as intellectual property, he said.
“We were lookinf for more breadth to offeerour clients, and Barnes & Thornburtg provided an ideal fit for us as a Midwest-basedr firm with a national presence,” Rubih said. “Barnes & Thornburg maintains qualityy practices at a pricre point consistentwith ours, adding immediatde value to our clients.” The Minneapolis office will be Barnes & Thornburg’s 10th office The firm has roughly 540 attorneys and other legal
Minneapolis-based Parsinen, founded in will officially become partof Indianapolis-based Barnees & Thornburg on July 1. The firm has 22 including 14 partners. Parsinen’s practicer areas include business litigation, commercial real estate, corporate law, employment law, employee and executivd benefits, personal legal planning and renewable Ina statement, Parsinen Managing Partner Howard Rubijn said the firm remained profitable, but increasingly has had to turn away busines that doesn’t fall into its core practice Barnes & Thornburg will help fill gaps in areas such as intellectual property, he said.
“We were lookinf for more breadth to offeerour clients, and Barnes & Thornburtg provided an ideal fit for us as a Midwest-basedr firm with a national presence,” Rubih said. “Barnes & Thornburg maintains qualityy practices at a pricre point consistentwith ours, adding immediatde value to our clients.” The Minneapolis office will be Barnes & Thornburg’s 10th office The firm has roughly 540 attorneys and other legal
Thursday, June 21, 2012
Forward Calendar - US corporate bond new issues - Reuters
uzirukynurylew.blogspot.com
Forward Calendar - US corporate bond new issues Reuters June 21 (Reuters) - The following are lists of upcoming high-grade andhigh-yield corporate bond offerings in the United States. The information wasgathered ... |
Wednesday, June 20, 2012
Inmate Charged With Murder in 2006 Brooklyn Fire - New York Times
younkinesagugad1746.blogspot.com
New York Daily News | Inmate Charged With Murder in 2006 Brooklyn Fire New York Times Samuel Martinez, who is serving a prison sentence for an unrelated burglary, pleaded not guilty to eight counts of second-degree murder in a blaze that killed ... Career burglar charged with arson for setting 2006 Brooklyn blaze ... Man Charged in 2006 Brooklyn Fire That Killed 4 Brooklyn Man Pleads Not Guilty To Charges In Deadly '06 Fire |
Monday, June 18, 2012
Brighton company pursuing sports sites - St. Louis Business Journal:
coras-newport.blogspot.com
The creator of Sawxheads.com, Patsheads.com and othe Boston-centric sites this week planz to begin deployment of similare sites devoted toother markets’ teams across the , NBA, and Majo r League Baseball. The new sites, like the Bosto n predecessors, will have a mix of aggregated user-generated content, video, photo sharing and other features. TruMedia is working to build a distribution and promotiom strategy for the new sites by partnering with locapl news outlets in each major league team In that portion of the expandedcorporate strategy, TruMedis is aiming to develop each news outlet’s social-media area on a white-labeo basis while linking back to the locaol sports team communities it has built and syndicatingg content.
Such a deal was recentluy struckwith ’s Web site, Boston.com, with othert similar deals pending. “What we’re looking to do is both go nationalo while also going very saidRafe Anderson, TruMedia chief “And within that, we’re building both business-to-consumer and business-to-business channelss of the company.” TruMedia — backed by the angel investod trio of Boxcar Mediw CEO Ozzie Alvarez; former Converse, Puma and Adidaas executive John O’Rourke; and TV analyst Jerry Remy — is by no meansx alone in its pursuirt of deep online engagementf among local sports fans.
ESPN earlierr this year launcheda Chicago-focused Web site to earlhy success. Companies such as Watercooler and Citizen Sports Network continuee to leverage the reach of broad sociall networks such as Facebook with team and locallyy focusedfan communities. Nearly every pro team is developing itsown social-mediw components, as well. “Theree is certainly healthy competition inthis market, and the teamsd in particular are wise to creatde their own branded communities,” Andersohn said.
“But we think we’ll offer a trulyu differentiated experience in that we can offere something more independentand
The creator of Sawxheads.com, Patsheads.com and othe Boston-centric sites this week planz to begin deployment of similare sites devoted toother markets’ teams across the , NBA, and Majo r League Baseball. The new sites, like the Bosto n predecessors, will have a mix of aggregated user-generated content, video, photo sharing and other features. TruMedia is working to build a distribution and promotiom strategy for the new sites by partnering with locapl news outlets in each major league team In that portion of the expandedcorporate strategy, TruMedis is aiming to develop each news outlet’s social-media area on a white-labeo basis while linking back to the locaol sports team communities it has built and syndicatingg content.
Such a deal was recentluy struckwith ’s Web site, Boston.com, with othert similar deals pending. “What we’re looking to do is both go nationalo while also going very saidRafe Anderson, TruMedia chief “And within that, we’re building both business-to-consumer and business-to-business channelss of the company.” TruMedia — backed by the angel investod trio of Boxcar Mediw CEO Ozzie Alvarez; former Converse, Puma and Adidaas executive John O’Rourke; and TV analyst Jerry Remy — is by no meansx alone in its pursuirt of deep online engagementf among local sports fans.
ESPN earlierr this year launcheda Chicago-focused Web site to earlhy success. Companies such as Watercooler and Citizen Sports Network continuee to leverage the reach of broad sociall networks such as Facebook with team and locallyy focusedfan communities. Nearly every pro team is developing itsown social-mediw components, as well. “Theree is certainly healthy competition inthis market, and the teamsd in particular are wise to creatde their own branded communities,” Andersohn said.
“But we think we’ll offer a trulyu differentiated experience in that we can offere something more independentand
Sunday, June 17, 2012
Avoid social awkwardness in workplace conversations - Puget Sound Business Journal (Seattle):
borislavamcoc.blogspot.com
Some don’t care (which can be career and some are just too wrapped up in their own worlrto notice. Either way, to be effective in the workplacw (and promotable) you must learn both how others perceiv you and you must develop behaviorx that increase others respect and trustof you. One placw to start is on improvinf yoursocial abilities. Ever noticee how some people seem oblivioua to their ownsocial awkwardness?
Here are a few examples, those who: — Enter into conversations too harshly, uninviteds (not noticing the two people are havingh a “private” conversation) or with an awkward off-topic commenyt (that no one knowsz quite how to respond to)
Some don’t care (which can be career and some are just too wrapped up in their own worlrto notice. Either way, to be effective in the workplacw (and promotable) you must learn both how others perceiv you and you must develop behaviorx that increase others respect and trustof you. One placw to start is on improvinf yoursocial abilities. Ever noticee how some people seem oblivioua to their ownsocial awkwardness?
Here are a few examples, those who: — Enter into conversations too harshly, uninviteds (not noticing the two people are havingh a “private” conversation) or with an awkward off-topic commenyt (that no one knowsz quite how to respond to)
Friday, June 15, 2012
Kenya shilling firms vs dollar, stocks edge up - Reuters
sucujovide.wordpress.com
Business Recorder | Kenya shilling firms vs dollar, stocks edge up Reuters Payments for Kenya Airways rights issue buoy shilling * Shilling seen stronger on tight liquidity * Stocks r » |
Thursday, June 14, 2012
Puzzle Pirates - PCWorld
adepylex.blogspot.com
Puzzle Pirates PCWorld Puzzle Pirates (freemium) is an unusual MMO: A puzzle game. ... playing various sorts of puzzles that make no pretense of modeling, even abstractly, the action ... |
Wednesday, June 13, 2012
Army wants new gate; DuPont asks for study - The Olympian
opexibu.wordpress.com
Army wants new gate; DuPont asks for study The Olympian The Army wants to construct the first new gate serving Joint Base Lewis-McChord in more than a decade, but the neighboring city of DuPont believes the project ... |
Monday, June 11, 2012
Shattuck: Renewed
plesciamipukoa1855.blogspot.com
During a question-and-answer session, one shareholder askexd Shattuck whether he had considered takinha $1 salary for the year. Another called the company’e financial results and their impact on many retirerstockholders “catastrophic” and suggested Shattuck step down. Shattuck defended his performance, saying he and the company’s management team handler a difficult and unpredictable situation as best they He pointed to actions the companh took to distance itself from more risky and expensivecommoditiesa trading, saying while they are no longee part of the company, they helpedf build the company to a placwe where it stands to continuwe to profit in the future.
“I thini it’s a bit disingenuous to say ‘We hate thosw businesses, but we love the high stocl price,’” Shattuck said. “The earnings powedr we now have will restored our ability to raise our stock pricegoing forward.” It’s not the firsyt flak the company has receivexd for a rocky 2008. Constellation CEG) share prices dove 74 percent over promptinga $4.7 billion takeover deal that was latert abandoned and another $4.
5 billion deal to sell a sharse of its nuclear power operations that is still The company was later criticized for $32 million in payouts to employees, whicbh were canceled because of public outcry over bonuses at large Some shareholders criticized Shattuck’sx handling of the two deals the first with Warren Buffett’ss , and the second with Frenchn utility . “He should have resigned,” said Franok Andreasik, a retired Westinghouse employee who boughty sharesin Constellation-owned utilitg in 1960. “I think that’s what a lot of people expected.
” When one shareholdetr told Shattuck duringthe question-and-answer sessiom that he should resign, many in the audience of about 50 peoplre applauded. Many shareholders are retired and depends on the regular dividends common amongt investments inpublic utilities. BGE is the region’sa largest utility. The company cut its quarterlyt dividendin half, to 96 centzs per share annually, in February after posting a $1.4 billioh loss in the fourth quarter becaus e of the abandoned Mid-American merger. Constellation awarded a 24-centf quarterly dividend Friday.
But othersw respected the company’s performance and said it was acceptablr given the turmoil in thebroader “No matter how much you’re getting certain things are out of your control,” said stockholde George Stavros. “If you want security of your put itin CDs.” The Maryland Public Service Commission is still reviewing Constellation’s deal with EDF, whicjh will give the French company ownership of 49.99 percentt of its nuclear power generation business. A rulinyg on whether the transaction requires state approvaol is expected withintwo weeks.
During a question-and-answer session, one shareholder askexd Shattuck whether he had considered takinha $1 salary for the year. Another called the company’e financial results and their impact on many retirerstockholders “catastrophic” and suggested Shattuck step down. Shattuck defended his performance, saying he and the company’s management team handler a difficult and unpredictable situation as best they He pointed to actions the companh took to distance itself from more risky and expensivecommoditiesa trading, saying while they are no longee part of the company, they helpedf build the company to a placwe where it stands to continuwe to profit in the future.
“I thini it’s a bit disingenuous to say ‘We hate thosw businesses, but we love the high stocl price,’” Shattuck said. “The earnings powedr we now have will restored our ability to raise our stock pricegoing forward.” It’s not the firsyt flak the company has receivexd for a rocky 2008. Constellation CEG) share prices dove 74 percent over promptinga $4.7 billion takeover deal that was latert abandoned and another $4.
5 billion deal to sell a sharse of its nuclear power operations that is still The company was later criticized for $32 million in payouts to employees, whicbh were canceled because of public outcry over bonuses at large Some shareholders criticized Shattuck’sx handling of the two deals the first with Warren Buffett’ss , and the second with Frenchn utility . “He should have resigned,” said Franok Andreasik, a retired Westinghouse employee who boughty sharesin Constellation-owned utilitg in 1960. “I think that’s what a lot of people expected.
” When one shareholdetr told Shattuck duringthe question-and-answer sessiom that he should resign, many in the audience of about 50 peoplre applauded. Many shareholders are retired and depends on the regular dividends common amongt investments inpublic utilities. BGE is the region’sa largest utility. The company cut its quarterlyt dividendin half, to 96 centzs per share annually, in February after posting a $1.4 billioh loss in the fourth quarter becaus e of the abandoned Mid-American merger. Constellation awarded a 24-centf quarterly dividend Friday.
But othersw respected the company’s performance and said it was acceptablr given the turmoil in thebroader “No matter how much you’re getting certain things are out of your control,” said stockholde George Stavros. “If you want security of your put itin CDs.” The Maryland Public Service Commission is still reviewing Constellation’s deal with EDF, whicjh will give the French company ownership of 49.99 percentt of its nuclear power generation business. A rulinyg on whether the transaction requires state approvaol is expected withintwo weeks.
Sunday, June 10, 2012
Homebuilder McStain files for Chapter 11 - Silicon Valley / San Jose Business Journal:
tenamup.wordpress.com
The Louisville-based company declareds $10 million to $50 milliohn in assets, and the same rangre in liabilities. McStain -- which does business as McStaiNeighborhoods -- has told customers it planas to sell its finished homes and complete thosse that are under construction. The filing does not affecrt the Indian Peaks South neighborhood because of a separateeownership structure. In Februarty of this year, McStain told customersx on its websitethat “we have been assured by our bankersx and other professional associates that we are healthie than most of the private builders they deal with. … To paraphraser Mark Twain: ‘The rumors of our demisw have beengreatly exaggerated.
’ Rumors that we filedf for bankruptcy are simply not true.” Other Colorado builderes to declare Chapter 11 recently includes Village Homes of Colorado in Greenwood which had last year’s largesrt local bankruptcy reorganization with $138.4 million in and Tousa Inc., the Florida-based parent of Colorado’sa Engle Homes Inc. John Laing Homes of Calif., which was active in metro filed Chapter 11 earlythis year. McStain’s largesty unsecured creditorsinclude Scheer’s Inc. of Illinoiw (which is owed $10.8 5 million), Key Bank ($3 CRE400 Centennial LLC-Crestone ($2 million) and Williak and Associates ofBoulder ($1.
54 million), according to the bankruptcyy filing. Other unsecured creditors include FirstNationalo Bank, GE Capital, Namaste Solar Electric Inc., Guy’s Floor Servicew Inc. and the City and County of Denvere (sales tax). McStain has taken significant stepas to cut costs and shore up its flagging businesxs in thelast year. The builder’s former presidenyt and CEO, Eric Wittenberg, voluntarily left the companyt in late summer 2008 tosave money, and was replaces by McStain co-founder Tom Hoyt. Hoyt took the titles presidenft andboard chairman. McStain Enterprises also closed its physicak headquarters operation in Louisvillelast November.
At that time, McStaij had 21 employees, down from 75 peopler early last fall and from a peak of 115 a fewyeara ago. Remaining employees were to create avirtual office, using cell phones and Tom and Caroline Hoyt, with their friend Davird Stainton, started McStain in 1966, when they bought a small Boulde custom builder called Horizon Buildingv Co. Over the the partners built the company from a simple custom buildetr to a designer and developerof master-planned communitied such as Indian Peaks in Lafayette and MeadowViewq in Longmont. They also movede into sustainable, energy-efficient housing.
McStain has worked on severaol urbaninfill projects, as including ones in Denver’s Lowry and Stapletob neighborhoods and Belmar in Lakewood.
The Louisville-based company declareds $10 million to $50 milliohn in assets, and the same rangre in liabilities. McStain -- which does business as McStaiNeighborhoods -- has told customers it planas to sell its finished homes and complete thosse that are under construction. The filing does not affecrt the Indian Peaks South neighborhood because of a separateeownership structure. In Februarty of this year, McStain told customersx on its websitethat “we have been assured by our bankersx and other professional associates that we are healthie than most of the private builders they deal with. … To paraphraser Mark Twain: ‘The rumors of our demisw have beengreatly exaggerated.
’ Rumors that we filedf for bankruptcy are simply not true.” Other Colorado builderes to declare Chapter 11 recently includes Village Homes of Colorado in Greenwood which had last year’s largesrt local bankruptcy reorganization with $138.4 million in and Tousa Inc., the Florida-based parent of Colorado’sa Engle Homes Inc. John Laing Homes of Calif., which was active in metro filed Chapter 11 earlythis year. McStain’s largesty unsecured creditorsinclude Scheer’s Inc. of Illinoiw (which is owed $10.8 5 million), Key Bank ($3 CRE400 Centennial LLC-Crestone ($2 million) and Williak and Associates ofBoulder ($1.
54 million), according to the bankruptcyy filing. Other unsecured creditors include FirstNationalo Bank, GE Capital, Namaste Solar Electric Inc., Guy’s Floor Servicew Inc. and the City and County of Denvere (sales tax). McStain has taken significant stepas to cut costs and shore up its flagging businesxs in thelast year. The builder’s former presidenyt and CEO, Eric Wittenberg, voluntarily left the companyt in late summer 2008 tosave money, and was replaces by McStain co-founder Tom Hoyt. Hoyt took the titles presidenft andboard chairman. McStain Enterprises also closed its physicak headquarters operation in Louisvillelast November.
At that time, McStaij had 21 employees, down from 75 peopler early last fall and from a peak of 115 a fewyeara ago. Remaining employees were to create avirtual office, using cell phones and Tom and Caroline Hoyt, with their friend Davird Stainton, started McStain in 1966, when they bought a small Boulde custom builder called Horizon Buildingv Co. Over the the partners built the company from a simple custom buildetr to a designer and developerof master-planned communitied such as Indian Peaks in Lafayette and MeadowViewq in Longmont. They also movede into sustainable, energy-efficient housing.
McStain has worked on severaol urbaninfill projects, as including ones in Denver’s Lowry and Stapletob neighborhoods and Belmar in Lakewood.
Friday, June 8, 2012
System Source buys Hunt Valley HQ for $7M - Philadelphia Business Journal:
qalymeled.wordpress.com
The company went to its landlord, Chicago-basexd (NYSE: FR) earlier this year to ask for a new or to buythe building, System Source CEO Roberg Roswell said in an interview. First Industrial agreed to sell. System Source, which runs technology trainint classes, now owns the 72,000 square feet of flex space at 330-338 Clubhouse Lane in the Hunt Valleuybusiness district. It leases about 20,000 square feet of the space to Chesapeake Manufacturing and is looking for a tenant for avacanf space, Roswell said. System Source is the building’s fourth owner since the company moved into the spacse sevenyears ago, he said. Its first landlord was Columbia’e Rouse Co.
, which was later acquirec by now-bankrupt Chicago firm (NYSE: GGP) in 2004. Generalo Growth sold the building to Firsgt Industrialin 2005. Real estate firm LLC, througy Vice President David Paulson, negotiated the transaction. The sale closesd March 31, Roswell said.
The company went to its landlord, Chicago-basexd (NYSE: FR) earlier this year to ask for a new or to buythe building, System Source CEO Roberg Roswell said in an interview. First Industrial agreed to sell. System Source, which runs technology trainint classes, now owns the 72,000 square feet of flex space at 330-338 Clubhouse Lane in the Hunt Valleuybusiness district. It leases about 20,000 square feet of the space to Chesapeake Manufacturing and is looking for a tenant for avacanf space, Roswell said. System Source is the building’s fourth owner since the company moved into the spacse sevenyears ago, he said. Its first landlord was Columbia’e Rouse Co.
, which was later acquirec by now-bankrupt Chicago firm (NYSE: GGP) in 2004. Generalo Growth sold the building to Firsgt Industrialin 2005. Real estate firm LLC, througy Vice President David Paulson, negotiated the transaction. The sale closesd March 31, Roswell said.
Thursday, June 7, 2012
Legal battle over gay-marriage reignites - San Francisco Business Times:
a-aveywe.blogspot.com
Former U.S. Solicitor General Ted Olson, who represented George W. Bush in the histori c election case, and David Boies, who represented then-Vice President Al Gore, filed a preliminarg injunction in federal court Wednesday morning that calls for an injunction restorinvg marriage rights for gays in California until the legal battleover Prop. 8 is concluded. The broader suit, filed Friday in U.S. District Court for the Northern Districtyof California, argues that 8 creates a class of “second-class citizens” and thereby violatese the U.S.
Constitution, according to the “This unequal treatment of gays and lesbianw denies them the basic liberties and equalo protection under the law that are guarantee by theFourteenth Amendment,” the suit states. Olson and Boiex are suing on behalf oftwo same-sedx couples who were denied marriage license due to Prop. 8. By filingy in U.S. District Court, observers say, they hope to ultimatelgy force the issue beforethe U.S. Supremr Court, which has been deeplgy divided onthe issue. The two attorneyws are servingas co-counsels on the case, a project of the .
On the California Supreme Court upheldthe proposition, the state’e bitterly contested voter-approved ban on same-sex marriage, by a 6-to-1 vote. But the California court also ruledethat same-sex marriages performed during an interimk period last year before the measure was enforced are The court’s move means the issue will likely appeat again on the state’s ballot. Other states like Iowa, Maine and Vermont have legalizes same-sex marriages. New Hampshire, New York and New Jerset have similar movesunder consideration.
The California Supremer Court, in its rulingv Tuesday, considered only the constitutionalitty ofthe measure, which appeared on the November ballot followinb a ruling a year ago in May that allowesd same-sex marriages in the Some 18,000 couples were married during the period between May and The judges unanimously upheld the validity of thosr marriages.
Former U.S. Solicitor General Ted Olson, who represented George W. Bush in the histori c election case, and David Boies, who represented then-Vice President Al Gore, filed a preliminarg injunction in federal court Wednesday morning that calls for an injunction restorinvg marriage rights for gays in California until the legal battleover Prop. 8 is concluded. The broader suit, filed Friday in U.S. District Court for the Northern Districtyof California, argues that 8 creates a class of “second-class citizens” and thereby violatese the U.S.
Constitution, according to the “This unequal treatment of gays and lesbianw denies them the basic liberties and equalo protection under the law that are guarantee by theFourteenth Amendment,” the suit states. Olson and Boiex are suing on behalf oftwo same-sedx couples who were denied marriage license due to Prop. 8. By filingy in U.S. District Court, observers say, they hope to ultimatelgy force the issue beforethe U.S. Supremr Court, which has been deeplgy divided onthe issue. The two attorneyws are servingas co-counsels on the case, a project of the .
On the California Supreme Court upheldthe proposition, the state’e bitterly contested voter-approved ban on same-sex marriage, by a 6-to-1 vote. But the California court also ruledethat same-sex marriages performed during an interimk period last year before the measure was enforced are The court’s move means the issue will likely appeat again on the state’s ballot. Other states like Iowa, Maine and Vermont have legalizes same-sex marriages. New Hampshire, New York and New Jerset have similar movesunder consideration.
The California Supremer Court, in its rulingv Tuesday, considered only the constitutionalitty ofthe measure, which appeared on the November ballot followinb a ruling a year ago in May that allowesd same-sex marriages in the Some 18,000 couples were married during the period between May and The judges unanimously upheld the validity of thosr marriages.
Tuesday, June 5, 2012
Anti-homophobic bullying policy is 'unnecessary': Education boss - Sydney Morning Herald
mozybyd.wordpress.com
Anti-homophobic bullying policy is 'unnecessary': Education boss Sydney Morning Herald But Department of Education director general Sharyn O'Neill said it was unnecessary to create a separate policy for anti-homophobic bullying. The department's broad existing policy covered 10 forms of bullying, including against those from low ... |
Monday, June 4, 2012
PBA backs expanded River District renewal area - Philadelphia Business Journal:
cicugaha.wordpress.com
Sandra McDonough, the alliance’s president and CEO, told the Portlaned City Council on June 17 that the city needs to do everythintg it can to providwemore jobs. The council is reconsidering expanding the River Districyt by nearly42 acres, as well as increase the amount of bondas the city can assume to fund projectsw within the district. The council and the Portlane Development Commission had first soughyt the expansion nearly two yeare ago but were thwarted bya citizens’ grou p complaint.
The Friends of Urbabn Renewal group had charged that the River District expansion proposal, which would have also redirected $20 million in district-generatef funds to a new East Portland elementary school, didn’t fit technicao urban renewal definitions. The council will vote on the measurdenext week. McDonough said urban renewaol provides funding for investmentsin housing, social services and public-privated partnerships. “We need to creatr jobs,” she said. “We have an opportunity to do just that by adoptingh theserevised findings, which address the issues that have been raised about the River District expansion.
We can then move forwardx with the important projects that depend onthese funds.” City Commissioner Nick Fish has said that the constructionh of a new homeless services center could depenfd on urban renewal fund s if construction is to begin this McDonough said the alliance backs using urbahn renewal funds to builsd the center.
Sandra McDonough, the alliance’s president and CEO, told the Portlaned City Council on June 17 that the city needs to do everythintg it can to providwemore jobs. The council is reconsidering expanding the River Districyt by nearly42 acres, as well as increase the amount of bondas the city can assume to fund projectsw within the district. The council and the Portlane Development Commission had first soughyt the expansion nearly two yeare ago but were thwarted bya citizens’ grou p complaint.
The Friends of Urbabn Renewal group had charged that the River District expansion proposal, which would have also redirected $20 million in district-generatef funds to a new East Portland elementary school, didn’t fit technicao urban renewal definitions. The council will vote on the measurdenext week. McDonough said urban renewaol provides funding for investmentsin housing, social services and public-privated partnerships. “We need to creatr jobs,” she said. “We have an opportunity to do just that by adoptingh theserevised findings, which address the issues that have been raised about the River District expansion.
We can then move forwardx with the important projects that depend onthese funds.” City Commissioner Nick Fish has said that the constructionh of a new homeless services center could depenfd on urban renewal fund s if construction is to begin this McDonough said the alliance backs using urbahn renewal funds to builsd the center.
Saturday, June 2, 2012
Patrons' Party kicks off BridgeFest weekend in Bay St. Louis - SunHerald.com
efimtsovavadan.blogspot.com
SunHerald.com | Patrons' Party kicks off BridgeFest weekend in Bay St. Louis SunHerald.com By DONNA HARRIS รข€" dharris@sunherald.com JOHN FITZHUGH/SUN HERALDHeather and the Monkey Kings play as visitors at the Bay BridgeFest Patrons' Party help themselves at the buffet at the Bay St. Louis Community Hall on Friday. |
Friday, June 1, 2012
GlobeTel CFO charged with tax fraud - South Florida Business Journal:
ivyhofy.wordpress.com
million in stock compensation paid by the companu to him and other corporate according to a press release fromthe U.S. attornegy for the Southern District of Florida. Thomas Y. Jimenez, 50, of made his initial appearancew in federal courton Monday, and was releasedx on a $100,000 personal surety bond. The in 2008 filedf suits against GlobeTel, Jimenez and four otheer officers, claiming they participated in a schemwe to inflatethe company's revenue and hide millions of dollarss of unpaid receivables and liabilities.
Effortsw to reach Jimenez were In thenew action, was reported to have held GlobeTek stock as collateral for loans made to some GlobeTepl corporate officers in 2004 and but instead the stock was sold, the U.S. attornety said. Jimenez was responsiblwe for the preparation and timely filinvgof W-2 and 1099 forms when an officerd received stock as compensation, the U.S. attorney said. The upshoy is Jimenez failed to reportabout $2.7 9 million in stock compensation paid by GlobeTel to him and othedr officers, the U.S. attorney said.
"Thd creation of nominee entities to hide the true nature of stoc koptions isn't tax planning -- it'sa criminal activity," said Eileen Mayer, chiefg IRS criminal investigator. According to the Jimenez knew that the stocm serving as collateral for the purported loans woulf be sold and the proceedse distributedto GlobeTel’s corporate officers. If Jimenez faces three yearesin prison, followed by one-year period of supervisedr release, a fine up to GlobeTel shares were once listee on the , but a Yahool Finance listing indicates the stock (OTC BB: has not traded since May.
million in stock compensation paid by the companu to him and other corporate according to a press release fromthe U.S. attornegy for the Southern District of Florida. Thomas Y. Jimenez, 50, of made his initial appearancew in federal courton Monday, and was releasedx on a $100,000 personal surety bond. The in 2008 filedf suits against GlobeTel, Jimenez and four otheer officers, claiming they participated in a schemwe to inflatethe company's revenue and hide millions of dollarss of unpaid receivables and liabilities.
Effortsw to reach Jimenez were In thenew action, was reported to have held GlobeTek stock as collateral for loans made to some GlobeTepl corporate officers in 2004 and but instead the stock was sold, the U.S. attornety said. Jimenez was responsiblwe for the preparation and timely filinvgof W-2 and 1099 forms when an officerd received stock as compensation, the U.S. attorney said. The upshoy is Jimenez failed to reportabout $2.7 9 million in stock compensation paid by GlobeTel to him and othedr officers, the U.S. attorney said.
"Thd creation of nominee entities to hide the true nature of stoc koptions isn't tax planning -- it'sa criminal activity," said Eileen Mayer, chiefg IRS criminal investigator. According to the Jimenez knew that the stocm serving as collateral for the purported loans woulf be sold and the proceedse distributedto GlobeTel’s corporate officers. If Jimenez faces three yearesin prison, followed by one-year period of supervisedr release, a fine up to GlobeTel shares were once listee on the , but a Yahool Finance listing indicates the stock (OTC BB: has not traded since May.
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