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, the paper’s New York City-based owner, accordingv to a post on the AlbanyNewspaper Guild’s blog site. The guildx represents about half ofthe paper’w 400 workers, and has been engaged in contracgt negotiations with management for nearly a year. No definitde numbers are available, but about 35 people are expected to losetheire jobs. Publisher George Hearst originally put the countr at 65to 70, but 33 peoplew have taken buyouts since May. The paperf is trying to cut expensesd by20 percent.
Accordin g to the guild site, employees—both union and nonunion—who were shown the door were told they were gettinga 45-dayt paid leave that would most likelgy result in their being laid off. Union rules require that workers get 45 days noticd of their jobsbeing eliminated. Management and Guildc leaders are scheduled to meet July 8 to continuew their negotiation oflayoff criterion. The paper presented its proposer terms to the union inlate June. The union’es original contract, which expired in mandated that layoffs be basedd solely on seniorityby department.
Managemenr said that would not meetits needs, leading to the primarh sticking point in the negotiation of a new pact. It urged the unionj to vote onits “best and final” which was rejected by a vote of 125 to 35. This promptee management to declarean impasse, which, in prompted the union to file a grievancr with the National Labor Relations On June 24, managementy told the union that in some job categories the layoffs wouldd be made strictly on a last-hired-first-fired basis.
But in 11 job categories—nins in editorial and two in salesand marketing—cut s will be based on othedr criteria, including job Calls to Tim O’Brien, a Times Union reporter and Guild president, and publishe r George Hearst were not immediatelh returned.
Monday, April 30, 2012
Sunday, April 29, 2012
California losing ground in manufacturing - Dayton Business Journal:
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Manufacturing “still drives California’s economy in many but the state is losing ground to otheer states and nations because of itsregulatory climate, tax burdeb and reputation as a difficult and costly placre to do business,” the wrote in the reporg released Tuesday. The paid for the called “Manufacturing 2.0: A More Prosperous California,” to creatd a better understanding of the current state of manufacturint and the need for action to savethe state’ws most critical engine of economic growth, the association said in a news The Assembly Committee on Jobs, the Economy and Economic Development is scheduled to discuss the reporft next Tuesday.
The committee is trying to understand themanufacturingt sector’s role in the state’s economic “California’s economy has been built on manufacturing. The sector’s steadgy decline is undoubtedlya ‘canaru in a coal mine’ for the state’s association president Jack Stewart said in the news “California has the capacity to innovate and make things but it is not at all livingh up to its potential.
” The report says that the impacte from lost manufacturing jobs have been The study looks at California’s manufacturing declin compared to competitive “peer” shows what the state would look like if it had maintainex year 2000 levels of and explains the huge economic benefitxs and ripple effects from high and even low wage The Milken Institute also examines the challenges the industru faces in California and recommends some changes to make the sectofr more competitive in the Goldehn State. The trade association had the Milkejn Institute prepare a similarr study sevenyears ago.
“Since then, and even beforde the current international recession, California manufacturing has remainedcin decline, with little attention from policymakers,” the news releasw said. If California had maintained the same levep of manufacturing from 2000 to the state wouldhave $27 billiojn more in manufacturing wages and $54 billion more in total manufacturing related output, the report “Just do the math on thos e numbers to see how much more the stats would have seen in tax revenue,” Stewarrt said in the “It’s absolutely crucial that our statse doesn’t neglect this sector for anothed seven years.
” California has been losing manufacturing jobs, particularly high-value-adde d manufacturing, to Oregon, Washington, Texas and Minnesota, the report said. Californiq was home to 1.5 million manufacturing jobs in 2007, while its sevenj peer states had 2.7 millionm manufacturing jobs. Those states addee more than 62,000 manufacturing jobs between 2003and 2007, whil e the Golden State lost 79,000 manufacturin g jobs during the same period. California, in is losing a larger share ofmanufacturinyg employment, especially in high-tech, and is losing those jobs at a fastee rate, the report found.
Thoss peer states also are “using targeted incentives to keep and lure manufactureras awayfrom California,” the study “California manufacturing is innovative, exciting and wealth creating,” Pamelqa Kan, president of Bishop-Wisecarver Corp., said in the “We employ 53 Californiaq workers who make great wages and very precise, innovative and technicak products for many other manufacturing sectors. We hear constantlu about our California suppliers’ and struggles with regulatory uncertaintyand Kan’s family founded Bishop-Wisecarver, which is basef in the Contra Costa County city of in 1950.
“This report,” she said, “ids a wake up call to California’d policymakers that we need a focused manufacturintg strategy in the state to retain and growthe nation’s most covetef producers.”
Manufacturing “still drives California’s economy in many but the state is losing ground to otheer states and nations because of itsregulatory climate, tax burdeb and reputation as a difficult and costly placre to do business,” the wrote in the reporg released Tuesday. The paid for the called “Manufacturing 2.0: A More Prosperous California,” to creatd a better understanding of the current state of manufacturint and the need for action to savethe state’ws most critical engine of economic growth, the association said in a news The Assembly Committee on Jobs, the Economy and Economic Development is scheduled to discuss the reporft next Tuesday.
The committee is trying to understand themanufacturingt sector’s role in the state’s economic “California’s economy has been built on manufacturing. The sector’s steadgy decline is undoubtedlya ‘canaru in a coal mine’ for the state’s association president Jack Stewart said in the news “California has the capacity to innovate and make things but it is not at all livingh up to its potential.
” The report says that the impacte from lost manufacturing jobs have been The study looks at California’s manufacturing declin compared to competitive “peer” shows what the state would look like if it had maintainex year 2000 levels of and explains the huge economic benefitxs and ripple effects from high and even low wage The Milken Institute also examines the challenges the industru faces in California and recommends some changes to make the sectofr more competitive in the Goldehn State. The trade association had the Milkejn Institute prepare a similarr study sevenyears ago.
“Since then, and even beforde the current international recession, California manufacturing has remainedcin decline, with little attention from policymakers,” the news releasw said. If California had maintained the same levep of manufacturing from 2000 to the state wouldhave $27 billiojn more in manufacturing wages and $54 billion more in total manufacturing related output, the report “Just do the math on thos e numbers to see how much more the stats would have seen in tax revenue,” Stewarrt said in the “It’s absolutely crucial that our statse doesn’t neglect this sector for anothed seven years.
” California has been losing manufacturing jobs, particularly high-value-adde d manufacturing, to Oregon, Washington, Texas and Minnesota, the report said. Californiq was home to 1.5 million manufacturing jobs in 2007, while its sevenj peer states had 2.7 millionm manufacturing jobs. Those states addee more than 62,000 manufacturing jobs between 2003and 2007, whil e the Golden State lost 79,000 manufacturin g jobs during the same period. California, in is losing a larger share ofmanufacturinyg employment, especially in high-tech, and is losing those jobs at a fastee rate, the report found.
Thoss peer states also are “using targeted incentives to keep and lure manufactureras awayfrom California,” the study “California manufacturing is innovative, exciting and wealth creating,” Pamelqa Kan, president of Bishop-Wisecarver Corp., said in the “We employ 53 Californiaq workers who make great wages and very precise, innovative and technicak products for many other manufacturing sectors. We hear constantlu about our California suppliers’ and struggles with regulatory uncertaintyand Kan’s family founded Bishop-Wisecarver, which is basef in the Contra Costa County city of in 1950.
“This report,” she said, “ids a wake up call to California’d policymakers that we need a focused manufacturintg strategy in the state to retain and growthe nation’s most covetef producers.”
Friday, April 27, 2012
Consider a merger when the sum is better than parts - San Francisco Business Times:
oryucyjofec1482.blogspot.com
In fact, studies suggest businesses are increasinglg facingthis dilemma, even as a recession may make selling a business more According to a 2007 study by and the , 40 percent of business owners expect to retirwe within the next decade. Only a thirde have a known successor, meaning thousands of businesses nationwide may soon be onthe But, given the current businesses that can delay sellingh should probably do so, expertws say.
Amid declining sales and job cuts, owners won’t likelyy get top dollar — especially give the unknown length of the And many potential buyers could have difficulty securing Whether delaying is an option depends oneach seller’s Some sell because they suspectr the business will never be worth more, says Jeff Van Winkle, a member of the board of directora of the National Small Business Association Others consider selling when they have a strategicd vision for growth, but need capita l or expertise to reach that goal. In those the owner may sell a portion of the but remain a VanWinkle says.
Or, the owner may sell the entiree business with the condition that he or she remainds employed insome capacity. Of one of the most common driverx is that the proprietoe is readyto retire. Selling may be necessary either to finance thatretiremenrt or, in the case of family-ownerd businesses, because none of the heirs are interested in continuiny the business. Mergers primarily take placse because the owners feel the whole can do something the separater companiesalone cannot, whether that’se create a new product, reach a new markeyt or achieve better efficiencies. But just as thered are good reasons and times to sell or mergsea business, there are also timees to postpone.
For example, high employee especially in management roles, may be cause to postpone the sale. It’s also best to sell while a firm is stable or growing because buyers will not offer top dollaer if they sense the seller is under Experts recommend preparing your business to sell at least one or two yeare before putting it on the Two of the first people you shoulx consult are your accountanr and attorney to learn of any potential financialk or legal issues that could make sellinga challenge.
Next, make sure the company’zs financial records are clear and easyto Also, try to shored up some long-term business so prospectivde buyers will see that they will have some guaranteeds sales. For example, if several of your clients are on contractds that will expire pushfor long-term contracts for two, three or even four And if the business depends on a handfu l of clients, seek ways to diversify. Jeffrey president of the U.S. Association for Smalkl Business andEntrepreneurship (usasbe.org), recommends telling key customer and suppliers the business is for sale even before a deal has been reachede so you don’t risk jeopardizing those key relationshipws for the new owners.
Experts say pricintg the business is often thetoughestg chore. Owners often have unrealistic expectations because of the time and emotionalenergy “They believe the business is much more valuable than othed people are likely to believe,” Alvese says. On average, companies sell for betweeb two and three times their cash flow and between six monthzs toa year’s worth of Physical assets such as equipment or inventoryu are typically valued separately because the buyer may not need To get a better idea of what to expect, researcyh what similar businesses in your city have sold for and pricew yours accordingly.
In fact, studies suggest businesses are increasinglg facingthis dilemma, even as a recession may make selling a business more According to a 2007 study by and the , 40 percent of business owners expect to retirwe within the next decade. Only a thirde have a known successor, meaning thousands of businesses nationwide may soon be onthe But, given the current businesses that can delay sellingh should probably do so, expertws say.
Amid declining sales and job cuts, owners won’t likelyy get top dollar — especially give the unknown length of the And many potential buyers could have difficulty securing Whether delaying is an option depends oneach seller’s Some sell because they suspectr the business will never be worth more, says Jeff Van Winkle, a member of the board of directora of the National Small Business Association Others consider selling when they have a strategicd vision for growth, but need capita l or expertise to reach that goal. In those the owner may sell a portion of the but remain a VanWinkle says.
Or, the owner may sell the entiree business with the condition that he or she remainds employed insome capacity. Of one of the most common driverx is that the proprietoe is readyto retire. Selling may be necessary either to finance thatretiremenrt or, in the case of family-ownerd businesses, because none of the heirs are interested in continuiny the business. Mergers primarily take placse because the owners feel the whole can do something the separater companiesalone cannot, whether that’se create a new product, reach a new markeyt or achieve better efficiencies. But just as thered are good reasons and times to sell or mergsea business, there are also timees to postpone.
For example, high employee especially in management roles, may be cause to postpone the sale. It’s also best to sell while a firm is stable or growing because buyers will not offer top dollaer if they sense the seller is under Experts recommend preparing your business to sell at least one or two yeare before putting it on the Two of the first people you shoulx consult are your accountanr and attorney to learn of any potential financialk or legal issues that could make sellinga challenge.
Next, make sure the company’zs financial records are clear and easyto Also, try to shored up some long-term business so prospectivde buyers will see that they will have some guaranteeds sales. For example, if several of your clients are on contractds that will expire pushfor long-term contracts for two, three or even four And if the business depends on a handfu l of clients, seek ways to diversify. Jeffrey president of the U.S. Association for Smalkl Business andEntrepreneurship (usasbe.org), recommends telling key customer and suppliers the business is for sale even before a deal has been reachede so you don’t risk jeopardizing those key relationshipws for the new owners.
Experts say pricintg the business is often thetoughestg chore. Owners often have unrealistic expectations because of the time and emotionalenergy “They believe the business is much more valuable than othed people are likely to believe,” Alvese says. On average, companies sell for betweeb two and three times their cash flow and between six monthzs toa year’s worth of Physical assets such as equipment or inventoryu are typically valued separately because the buyer may not need To get a better idea of what to expect, researcyh what similar businesses in your city have sold for and pricew yours accordingly.
Wednesday, April 25, 2012
Pacific Ethanol units file bankruptcy - Sacramento Business Journal:
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Pacific Ethanol and its marketing division did not file for The Sacramento-based company — foundedr in Fresno by former California Secretary of Stat Bill Jones — has been battling a criticakl cash crunch, with high corn prices and lowed ethanol prices greatly affecting the bottom The company has warned about the possibilitg of bankruptcy in recent weeks. Pacific like many ethanol producers has been attempting torefinancer loans, receiving an extension in March that expirecd in April. The action prompted the company’sd ethanol-producing units to file the voluntaru bankruptcy petition in The company’s marketing subsidiaries — and have not filed for bankruptcy.
West LB and othetr creditors have agreedto debtor-in-possessioj financing of $20 million. “We have workeds with our creditors to develop a plan that we believed allows us to continue operationes and meet our commitments to our customeraand vendors,” Pacific Ethanol chief executive officer and presidentf Neil Koehler said in a news “While the market environment for the ethanoll industry has been challengingb over the last several we remain confident that a restructured company will grow and prosper as the demand for low-carbonh fuels increase.” In addition, -owned offered as much as $10 millionb in financing to Kinergy Marketing through October 2010.
‘We appreciate the support of West LB, Wachovia and the work of our managementy team,” Jones said. “Our objective is to move this procesxs forward as quickly as possible so that we can maintaim our focus on serving our fuel and feed The company has delayed filinygits first-quarter financials due to the effortss to restructure debt, but said it expects net sales of abourt $86.7 million for the quarterd ended March 31, compared to net sales of $161.5 million for the same periodc in 2008. The company estimates it sold 24 perceng less ethanol in the first quarter compared to theprevious year, and the sale priced fell to $1.
65 per gallon, 28 perceng less than in first-quarter 2008. The companuy has closed three of its four productiobn plants this year as it tried to renegotiatdeloan terms. The company has plants in Stockton, Boardman, Ore., and Idaho. Pacific Ethanol moved its headquarters to Sacramento inJanuary 2007. The compangy attracted the attention of many environmentallyfriendly investors, includin g Microsoft Corp. chairman and foundef Bill Gates, who has sincde sold his shares. Shares of Pacific Ethanol PEIX) dropped 27 cents to 30 close toits one-year low of 20 About 4.6 million shares traded as of 10 a.m. about eight times its averagew daily volumeof 527,000 durinv the past three months.
Pacific Ethanol and its marketing division did not file for The Sacramento-based company — foundedr in Fresno by former California Secretary of Stat Bill Jones — has been battling a criticakl cash crunch, with high corn prices and lowed ethanol prices greatly affecting the bottom The company has warned about the possibilitg of bankruptcy in recent weeks. Pacific like many ethanol producers has been attempting torefinancer loans, receiving an extension in March that expirecd in April. The action prompted the company’sd ethanol-producing units to file the voluntaru bankruptcy petition in The company’s marketing subsidiaries — and have not filed for bankruptcy.
West LB and othetr creditors have agreedto debtor-in-possessioj financing of $20 million. “We have workeds with our creditors to develop a plan that we believed allows us to continue operationes and meet our commitments to our customeraand vendors,” Pacific Ethanol chief executive officer and presidentf Neil Koehler said in a news “While the market environment for the ethanoll industry has been challengingb over the last several we remain confident that a restructured company will grow and prosper as the demand for low-carbonh fuels increase.” In addition, -owned offered as much as $10 millionb in financing to Kinergy Marketing through October 2010.
‘We appreciate the support of West LB, Wachovia and the work of our managementy team,” Jones said. “Our objective is to move this procesxs forward as quickly as possible so that we can maintaim our focus on serving our fuel and feed The company has delayed filinygits first-quarter financials due to the effortss to restructure debt, but said it expects net sales of abourt $86.7 million for the quarterd ended March 31, compared to net sales of $161.5 million for the same periodc in 2008. The company estimates it sold 24 perceng less ethanol in the first quarter compared to theprevious year, and the sale priced fell to $1.
65 per gallon, 28 perceng less than in first-quarter 2008. The companuy has closed three of its four productiobn plants this year as it tried to renegotiatdeloan terms. The company has plants in Stockton, Boardman, Ore., and Idaho. Pacific Ethanol moved its headquarters to Sacramento inJanuary 2007. The compangy attracted the attention of many environmentallyfriendly investors, includin g Microsoft Corp. chairman and foundef Bill Gates, who has sincde sold his shares. Shares of Pacific Ethanol PEIX) dropped 27 cents to 30 close toits one-year low of 20 About 4.6 million shares traded as of 10 a.m. about eight times its averagew daily volumeof 527,000 durinv the past three months.
Monday, April 23, 2012
Seventeenth Street Plaza sold to HRPT - Boston Business Journal:
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Newton, Mass.-based HRPT (NYSE: HRP), a real estate investmentf trust that owns and operateas office andindustrial buildings, paid cash for the The sales price was not announced. Seventeent h Street Plaza is located at 122517th St., acrossa from the Tabor Centefr office, retail and hotel complex. It was developed by what’s now Jonesw Lang LaSalle Inc. of Chicago, and was completedc in 1982. Previous owners includre Equitable Real Estate InvestmentrManagement Inc. (ERE), part of the Equitable insurance Australian real estate giant LendLeaser Corp. Ltd. took over the building in the 1990w after itacquired ERE.
JPMorgan quietlty put the building on the market inearlu 2008, asking $385 per square foot, or roughly $250 brokers said. Brookfield Properties Corp. of New York and Toronto had the buildiny under contract to purchase last summe rfor $225 million, but the deal was not consummated because of the debt crisis’ impact on Brookfield’sz lender, said real estate brokerz knowledgeable about the deal. As of October, the buildingt was off the market. The with an attached parking structure, is 93 percentt leased and includes Ink! Coffee and Heidi’s Brooklyn Deli It is home to the headquarters of Molson CoorsBrewing Co.
Newton, Mass.-based HRPT (NYSE: HRP), a real estate investmentf trust that owns and operateas office andindustrial buildings, paid cash for the The sales price was not announced. Seventeent h Street Plaza is located at 122517th St., acrossa from the Tabor Centefr office, retail and hotel complex. It was developed by what’s now Jonesw Lang LaSalle Inc. of Chicago, and was completedc in 1982. Previous owners includre Equitable Real Estate InvestmentrManagement Inc. (ERE), part of the Equitable insurance Australian real estate giant LendLeaser Corp. Ltd. took over the building in the 1990w after itacquired ERE.
JPMorgan quietlty put the building on the market inearlu 2008, asking $385 per square foot, or roughly $250 brokers said. Brookfield Properties Corp. of New York and Toronto had the buildiny under contract to purchase last summe rfor $225 million, but the deal was not consummated because of the debt crisis’ impact on Brookfield’sz lender, said real estate brokerz knowledgeable about the deal. As of October, the buildingt was off the market. The with an attached parking structure, is 93 percentt leased and includes Ink! Coffee and Heidi’s Brooklyn Deli It is home to the headquarters of Molson CoorsBrewing Co.
Saturday, April 21, 2012
Charter high school would be to Christina's detriment - The News Journal
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Charter high school would be to Christina's detriment The News Journal The Delaware Department of Education is currently considering a request by Newark Charter School to extend its classes to the high school grades. Granting this request would mean department Secretary Lillian Lowery and Gov. |
Friday, April 20, 2012
Daniel Dooley III Executive Profile
uzirukynurylew.blogspot.com
Prior to that, he was Vice Presidentr Strategic Sales SupportCare team, responsible for the complete customef life cycle management
Prior to that, he was Vice Presidentr Strategic Sales SupportCare team, responsible for the complete customef life cycle management
Wednesday, April 18, 2012
Foreign doctors who can't speak proper English to be struck off - Daily Mail
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Daily Mail | Foreign doctors who can't speak proper English to be struck off Daily Mail By James Chapman Doctors will be struck off if they cannot speak proper English amid fears that patients' lives are being put at risk, the Health Secretary will say today. Hospitals and GPs' surgeries will also be leg » |
Monday, April 16, 2012
Workplace religious freedom bill passes House - Portland Business Journal:
mesiaipuhuni1981.blogspot.com
Senate Bill 786 requires employersw to accommodate religious beliefws providedthey don’t impose an “unduer hardship” on the business. The bill now goes to Gov. Ted Kulongoskoi for his signature. House Speakee Dave Hunt, the bill’s chief sponsor, said the measure “ensurese a fundamental right to religious freedom for but also ensures that businessez will not be unduly The bill addresses such activities as the wearing of religious accoutermentd and the need for some to take religious holiday Hunt modeled it after current laws demanding that workplaceds accommodate those with physical disabilities inthe workplace.
Backerd include the Northwest ReligiouwLiberty Association, Ecumenical Ministries of Oregon and the Jewish Federatioh of Greater Portland. “It is always a sensitive time when employees seek to freely exercise their religiouzs beliefs and ask for consideration fromtheir employer,” Hunt said in a “This bill clarifies the rulesx so everyone knows what is expectecd and proper in accommodating the wearing of religiouw clothing and time off for religious observance.
”
Senate Bill 786 requires employersw to accommodate religious beliefws providedthey don’t impose an “unduer hardship” on the business. The bill now goes to Gov. Ted Kulongoskoi for his signature. House Speakee Dave Hunt, the bill’s chief sponsor, said the measure “ensurese a fundamental right to religious freedom for but also ensures that businessez will not be unduly The bill addresses such activities as the wearing of religious accoutermentd and the need for some to take religious holiday Hunt modeled it after current laws demanding that workplaceds accommodate those with physical disabilities inthe workplace.
Backerd include the Northwest ReligiouwLiberty Association, Ecumenical Ministries of Oregon and the Jewish Federatioh of Greater Portland. “It is always a sensitive time when employees seek to freely exercise their religiouzs beliefs and ask for consideration fromtheir employer,” Hunt said in a “This bill clarifies the rulesx so everyone knows what is expectecd and proper in accommodating the wearing of religiouw clothing and time off for religious observance.
”
Saturday, April 14, 2012
Genmar warranties still good - Denver Business Journal:
manuscripts-shuwatu.blogspot.com
Tracy Carrell says the letter came after boat manufacturer on Mondau filed for Chapter 11bankruptcy protection. Genmat owns 15 different brands of which means dealers everywhereare impacted. She says cash customerw for boats at her dealership haveremained strong. But troublr financing in the current economy means othersa have been forced tohold off. “Thew boating business has been affected a lot like cars she says. The petition to reorganize its debts was filed in U.S. Bankruptcy Court in Minneapolis where the company isheadquartered — alonbg with more than 20 related subsidiaries. Genmad has between 100 and 199 creditors.
It listds its assets in the rageof $10 million to $50 millio and its liabilities between $100 million and $500 according to court documents. The largest unsecured creditorxare Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed $186,700. Merchanrt & Gould, a law firm in is owed $155,800. The only securexd creditors are and FifthThird Bank, according to a story in the Minneapolixs Star Tribune.
Genmar said it has received commitmengt fora debtor-in-possession (DIP) financing proposal from both In a statement, Genmar Chairman, CEO and largest shareholdedr Irwin Jacobs said sales of the company’se fishing boats, luxury yachts and otherd products started to decline in 2008, but worsened in recengt months. The company’s sales in fiscal which ends in June, are likely to be abouy $460 million, off by more than 50 percent fromfiscal 2008. “If someone wouldx have said to me as recently as even one montb ago that Genmar would someday be filing forChapter 11, I woulfd have said it was not even a remotw possibility,” Jacobs said.
Genmar had been makinyg some strategy changes inrecent months, announcing plansd to launch a line of less-expensive aluminum boats. A spinoffc company, Greenville, Pa.-based VEC Technology, and other Jacobs-related companied aren’t included in the filing. VEC is now in the businesss of making giant bladesfor energy-generating Law firm Fredrikson & Byron in Minneapolis, is representing Genmar in the bankruptcy
Tracy Carrell says the letter came after boat manufacturer on Mondau filed for Chapter 11bankruptcy protection. Genmat owns 15 different brands of which means dealers everywhereare impacted. She says cash customerw for boats at her dealership haveremained strong. But troublr financing in the current economy means othersa have been forced tohold off. “Thew boating business has been affected a lot like cars she says. The petition to reorganize its debts was filed in U.S. Bankruptcy Court in Minneapolis where the company isheadquartered — alonbg with more than 20 related subsidiaries. Genmad has between 100 and 199 creditors.
It listds its assets in the rageof $10 million to $50 millio and its liabilities between $100 million and $500 according to court documents. The largest unsecured creditorxare Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed $186,700. Merchanrt & Gould, a law firm in is owed $155,800. The only securexd creditors are and FifthThird Bank, according to a story in the Minneapolixs Star Tribune.
Genmar said it has received commitmengt fora debtor-in-possession (DIP) financing proposal from both In a statement, Genmar Chairman, CEO and largest shareholdedr Irwin Jacobs said sales of the company’se fishing boats, luxury yachts and otherd products started to decline in 2008, but worsened in recengt months. The company’s sales in fiscal which ends in June, are likely to be abouy $460 million, off by more than 50 percent fromfiscal 2008. “If someone wouldx have said to me as recently as even one montb ago that Genmar would someday be filing forChapter 11, I woulfd have said it was not even a remotw possibility,” Jacobs said.
Genmar had been makinyg some strategy changes inrecent months, announcing plansd to launch a line of less-expensive aluminum boats. A spinoffc company, Greenville, Pa.-based VEC Technology, and other Jacobs-related companied aren’t included in the filing. VEC is now in the businesss of making giant bladesfor energy-generating Law firm Fredrikson & Byron in Minneapolis, is representing Genmar in the bankruptcy
Thursday, April 12, 2012
Smoking Associated with Hip and Knee Replacement Failure - MarketWatch (press release)
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Smoking Associated with Hip and Knee Replacement Failure MarketWatch (press release) Two new studies presented at the 2012 Annual Meeting of the American Academy of Orthopaedic Surgeons looked at the effects of smoking on total joint replacement. A separate Smoking Cessation Forum featured expert testimony on how orthopaedic surgeons ... |
Wednesday, April 11, 2012
Panel: Build new Parkland hospital - Atlanta Business Chronicle:
ulyanaimiiurebor.blogspot.com
The new facility, and possibly another 165 beds fornew services, likelyu would be the first phase of any expansion A second phase woulr include a 280-bed women and infant's If all those piecez are completed as projected, would have a total of 991 new beds. The estimates were basedf on demographic information, population projections, market sharer data and other healthcare measures. The tentativre plan comes fromthe so-called Blue Ribbob Panel, a 12-member group taskef by the Dallas County Commissioners Court with draftingt a game plan for Parkland's future. Panel consultants PricewaterhouseCoopers recommenderd the figures after working on the plan for abouga year.
Many stepe in the process remain, including approval by the countty commissioners and likely issue bonds to financeany "We're not proceeding to plan anythingb until the Blue Ribbon Panel makes its recommendations, the boardx makes its recommendations or concurs with the Blue Ribbonn Panel and the court has a chance to deliberate and give guidancse on the direction moving forward," said Rick Brown, seniof vice president of facilities and planning for "At that point, what you woulde call detailed planning would start to take placr about how to plan and desigbn whatever was authorized," Brown said. "We're really evaluatingv alternatives atthis point.
" PricewaterhouseCoopers is developinf a master facilities plan that would answer questions about how the current Parkland Memorial Hospital building could be and where various servicex could be located. Recommendations could come in the next 45 Brown said. The panel is scheduled to finisy its work in July by making final recommendations to thecommissioners court, said Wendyh Lopez, chairwoman of the panel. "If we can get the rest of it done in the nextthrese months, I'll be (turning) cartwheels.
" It's likely that the new hospital wouls be built across the street from Parkland, becaus the current facility is considered too old to Parkland owns land across Harry Hines Boulevard from its currenrt facility at 5201 Harryg Hines Blvd. "We need to really start thinking abouf how itall happens, what's available, what makea sense, what the timing might be and just builsd a plan that's phased in," Lopez said. Once the plan is developefd the design work could take a with another year of constructiom making 2010 about the earlies t possible time to treat patientw in anew facility.
According to a study completed about fiveyears ago, Parkland is 54% undersized for its current building, which was built in 1954. The PWC study is designed to tell how far behind Parklandis today, Brown said. "Wse do know we are undersized," he added. "Whether it'ss 54% or some otherf estimated number, I don't know Previous estimates had put the cost ofbringinb Parkland's current hospital up to currenr standards through capital improvements at about $140 million.
Even if the public hospital system shells out that kind of it would loseabout 30% of its current 725 beds tryingy to comply with current codes, whichn makes keeping the currentt facility pretty much Cost details of the expansions identified by the paneol have not been but a possible figure of abouty $1 million per bed has been discusserd at previous Blue Ribbob Panel meetings. That would put the cost of the replacemen t hospitalat $550 millionb or more. This isn't the first time arounxd the planning blockfor Parkland. In Marchj 2004, Dallas County Commissioners halteda $1.2 billion expansionn plan pending more study.
Thirteen Blue Ribbobn Panel members were appointed in 2004 and the groupo has been meeting since the fallof 2005, along with Parklande management and several of the Parkland boare members. One panel member dropped out last leaving 12 in the Initial meetings with the commissioners have been Lopez said. "I felt like every one of the commissioners was real supportiv and on board and understandas the reality ofthe situation," she said. With discussionz about a new facility ongoing, Parklanrd officials have been taking stepsa to prepare for a possible building In the last year Parkland putnearly $86 million of one-time revenue into a building fund.
The revenud came from settlement of a lawsuit charging that the state underpaifd teaching institutions for graduatemedicak education, and from the sale of Woodlawn That money could be used to pay part of the cost of the new In June 2006, Dallas investmentt bank estimated that if Parkland's financees remained on the same steady course chartede in fiscal year 2005, the public hospital couldx cover some of the building cost with between $220 millionm and $320 million in bond financing.
The new facility, and possibly another 165 beds fornew services, likelyu would be the first phase of any expansion A second phase woulr include a 280-bed women and infant's If all those piecez are completed as projected, would have a total of 991 new beds. The estimates were basedf on demographic information, population projections, market sharer data and other healthcare measures. The tentativre plan comes fromthe so-called Blue Ribbob Panel, a 12-member group taskef by the Dallas County Commissioners Court with draftingt a game plan for Parkland's future. Panel consultants PricewaterhouseCoopers recommenderd the figures after working on the plan for abouga year.
Many stepe in the process remain, including approval by the countty commissioners and likely issue bonds to financeany "We're not proceeding to plan anythingb until the Blue Ribbon Panel makes its recommendations, the boardx makes its recommendations or concurs with the Blue Ribbonn Panel and the court has a chance to deliberate and give guidancse on the direction moving forward," said Rick Brown, seniof vice president of facilities and planning for "At that point, what you woulde call detailed planning would start to take placr about how to plan and desigbn whatever was authorized," Brown said. "We're really evaluatingv alternatives atthis point.
" PricewaterhouseCoopers is developinf a master facilities plan that would answer questions about how the current Parkland Memorial Hospital building could be and where various servicex could be located. Recommendations could come in the next 45 Brown said. The panel is scheduled to finisy its work in July by making final recommendations to thecommissioners court, said Wendyh Lopez, chairwoman of the panel. "If we can get the rest of it done in the nextthrese months, I'll be (turning) cartwheels.
" It's likely that the new hospital wouls be built across the street from Parkland, becaus the current facility is considered too old to Parkland owns land across Harry Hines Boulevard from its currenrt facility at 5201 Harryg Hines Blvd. "We need to really start thinking abouf how itall happens, what's available, what makea sense, what the timing might be and just builsd a plan that's phased in," Lopez said. Once the plan is developefd the design work could take a with another year of constructiom making 2010 about the earlies t possible time to treat patientw in anew facility.
According to a study completed about fiveyears ago, Parkland is 54% undersized for its current building, which was built in 1954. The PWC study is designed to tell how far behind Parklandis today, Brown said. "Wse do know we are undersized," he added. "Whether it'ss 54% or some otherf estimated number, I don't know Previous estimates had put the cost ofbringinb Parkland's current hospital up to currenr standards through capital improvements at about $140 million.
Even if the public hospital system shells out that kind of it would loseabout 30% of its current 725 beds tryingy to comply with current codes, whichn makes keeping the currentt facility pretty much Cost details of the expansions identified by the paneol have not been but a possible figure of abouty $1 million per bed has been discusserd at previous Blue Ribbob Panel meetings. That would put the cost of the replacemen t hospitalat $550 millionb or more. This isn't the first time arounxd the planning blockfor Parkland. In Marchj 2004, Dallas County Commissioners halteda $1.2 billion expansionn plan pending more study.
Thirteen Blue Ribbobn Panel members were appointed in 2004 and the groupo has been meeting since the fallof 2005, along with Parklande management and several of the Parkland boare members. One panel member dropped out last leaving 12 in the Initial meetings with the commissioners have been Lopez said. "I felt like every one of the commissioners was real supportiv and on board and understandas the reality ofthe situation," she said. With discussionz about a new facility ongoing, Parklanrd officials have been taking stepsa to prepare for a possible building In the last year Parkland putnearly $86 million of one-time revenue into a building fund.
The revenud came from settlement of a lawsuit charging that the state underpaifd teaching institutions for graduatemedicak education, and from the sale of Woodlawn That money could be used to pay part of the cost of the new In June 2006, Dallas investmentt bank estimated that if Parkland's financees remained on the same steady course chartede in fiscal year 2005, the public hospital couldx cover some of the building cost with between $220 millionm and $320 million in bond financing.
Monday, April 9, 2012
Confused by savings interest rate? Read on... - Rediff
ofycagvezi.blogspot.com
Rediff | Confused by savings interest rate? Read on... Rediff The rate of interest in savings bank account was four per annum as mandated by the government in May 2011. However with the recent change banks are now allowed to fix their interest rates for saving account customers. Banks now use this as a competing ... |
Saturday, April 7, 2012
Sales of imported ros wines leap 42 percent - Sacramento Business Journal:
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U.S. retail sales of imported wines leapt 42 percentt in the 52 week period endingApril 4, comparec with a less-than-5-percent increases in tota l sales of table wines during the same period, according to data citerd by the . The French wine council, known in France as Conseil Interprofessionnel des Vins de Provence or said Monday the steep rise in consumption is consistent with an earlier studuy by InternationalWine & Spirit Recor predicting that consumption of the popular pinkish wined worldwide will jump from 565 million bottles to 620 million by 2012. Not the CIVP expects the growing thirsf forimported rosé wines in the U.S.
markegt will bode well for particularly its Provencewine region. The French produc 28 percent ofworldwide rosé wines by making it the leader in the according to the wine which represents 700 Provence wineries and 55 local tradingy companies. Provence produces 38 percent of France’s rosés, the group Separately, Nielsen figures revealec that2008 U.S. sales of table wines priced at $6 per bottle or more jumped 24.9 percentf by price and 22.4 percent by volume, despite a weakeningt economy.
U.S. retail sales of imported wines leapt 42 percentt in the 52 week period endingApril 4, comparec with a less-than-5-percent increases in tota l sales of table wines during the same period, according to data citerd by the . The French wine council, known in France as Conseil Interprofessionnel des Vins de Provence or said Monday the steep rise in consumption is consistent with an earlier studuy by InternationalWine & Spirit Recor predicting that consumption of the popular pinkish wined worldwide will jump from 565 million bottles to 620 million by 2012. Not the CIVP expects the growing thirsf forimported rosé wines in the U.S.
markegt will bode well for particularly its Provencewine region. The French produc 28 percent ofworldwide rosé wines by making it the leader in the according to the wine which represents 700 Provence wineries and 55 local tradingy companies. Provence produces 38 percent of France’s rosés, the group Separately, Nielsen figures revealec that2008 U.S. sales of table wines priced at $6 per bottle or more jumped 24.9 percentf by price and 22.4 percent by volume, despite a weakeningt economy.
Thursday, April 5, 2012
FPL rate increase raises ire of Florida attorney general - South Florida Business Journal:
vypybiza.wordpress.com
billion rate increase by saying such a move is not appropriated for the currenteconomic “This proposed rate increase is excessive, especially when homeowners are alreadt struggling to make ends meet,” McCollum said in a “While the economy is affecting power companies, the difference shoulds not be made up entirely at the expense of Floridians’ Because of that, McCollum is encouraging power customerse to attend hearings being held by the in Sarasotas and Fort Myers on June 19. FPL, a subsidiary of FPL) that offers service in Manatee andSarasota counties, is lookingf to raise rates over a two-year periode that could result in $12.
55 per month for customers on or 30 percent of the current base rate s for customers who use 1,000 kilowatt hours per month. “The rate increase requested by FloridzaPower & Light appears irrational and a disserviced to the people of Florida,” said Rick McAllister, presidenr and chief executive of the . “We encourags business leaders to attend the publifc hearings and voicetheir outrage.” FPL has said the rate increasd would allow the company to improve fuel efficiency whil e still making bills affordable.
“Our bills are among the lowesg in the state and well below thenational average, and we’rwe working hard to keep them that way by makingt smart investments to benefit our customers,” said Armandop J. Olivera, FPL’s president and chief executived officer in a statementlast “These investments help to reduces the impact of volatile fuel prices, which in turn helps to keep total bills lower over the longer term as Bills would actually decreases under the proposal because reductions in the cost of fuel woulxd more than offset the increase in the base FPL said.
“While we are mindfulo of the difficult economy, we are also responsible for making prudent, long lead-time investments in the electricaol infrastructure,” Olivera said. “By doing so, we are strengthening our state’s essentiap infrastructure and creating jobs while helpingg tosecure Florida’s energy future.” The PSC will host nine publicd hearings on the rate increase throughout the state before it is scheduled to make a decisionb Aug. 24.
billion rate increase by saying such a move is not appropriated for the currenteconomic “This proposed rate increase is excessive, especially when homeowners are alreadt struggling to make ends meet,” McCollum said in a “While the economy is affecting power companies, the difference shoulds not be made up entirely at the expense of Floridians’ Because of that, McCollum is encouraging power customerse to attend hearings being held by the in Sarasotas and Fort Myers on June 19. FPL, a subsidiary of FPL) that offers service in Manatee andSarasota counties, is lookingf to raise rates over a two-year periode that could result in $12.
55 per month for customers on or 30 percent of the current base rate s for customers who use 1,000 kilowatt hours per month. “The rate increase requested by FloridzaPower & Light appears irrational and a disserviced to the people of Florida,” said Rick McAllister, presidenr and chief executive of the . “We encourags business leaders to attend the publifc hearings and voicetheir outrage.” FPL has said the rate increasd would allow the company to improve fuel efficiency whil e still making bills affordable.
“Our bills are among the lowesg in the state and well below thenational average, and we’rwe working hard to keep them that way by makingt smart investments to benefit our customers,” said Armandop J. Olivera, FPL’s president and chief executived officer in a statementlast “These investments help to reduces the impact of volatile fuel prices, which in turn helps to keep total bills lower over the longer term as Bills would actually decreases under the proposal because reductions in the cost of fuel woulxd more than offset the increase in the base FPL said.
“While we are mindfulo of the difficult economy, we are also responsible for making prudent, long lead-time investments in the electricaol infrastructure,” Olivera said. “By doing so, we are strengthening our state’s essentiap infrastructure and creating jobs while helpingg tosecure Florida’s energy future.” The PSC will host nine publicd hearings on the rate increase throughout the state before it is scheduled to make a decisionb Aug. 24.
Tuesday, April 3, 2012
No. 140: Holland Construction Services Inc. - St. Louis Business Journal:
younkinesagugad1746.blogspot.com
million in 2005 to $70.4 millionb last year, and President and Chief Executive Bruce Holland attributed the increase to the schooo projects Holland Construction isworking on. The compan y is developing the design of aproposed $35 million high school in O'Fallon, Ill., and is designing and preparingb to begin construction on a 140,000-square-foot, $25 milliojn junior high school also in Holland said his company, which offers design, design/build and constructio management services for commercial, industriapl and institutional developments, became interested in building schools aboutg three years ago.
"We built the ($20 Liberty Middle School in Edwardsville about three and a half yeare ago and found that this was a good nich efor us," he said. According to Holland, who is also the founderr and majority owner ofthe company, Holland Constructionb also is providing construction management services for Holy Trinituy Catholic Church in Fairview Heights. The $14 million, 80,000-square-foogt project will consist of a 14,133-square-foot church, a 29,456-square-footr school, and 36,096 square feet of parish conferencee andgymnasium space.
Holland said that by May the company also will have completed the construction ofa 5,000-seat, $25 million minor league basebalk stadium in Marion, Ill. He said that in December, Hollanxd Construction completed construction ofthe $7.9 million Phasde II portion of the Des Peresd Pointe shopping center.
million in 2005 to $70.4 millionb last year, and President and Chief Executive Bruce Holland attributed the increase to the schooo projects Holland Construction isworking on. The compan y is developing the design of aproposed $35 million high school in O'Fallon, Ill., and is designing and preparingb to begin construction on a 140,000-square-foot, $25 milliojn junior high school also in Holland said his company, which offers design, design/build and constructio management services for commercial, industriapl and institutional developments, became interested in building schools aboutg three years ago.
"We built the ($20 Liberty Middle School in Edwardsville about three and a half yeare ago and found that this was a good nich efor us," he said. According to Holland, who is also the founderr and majority owner ofthe company, Holland Constructionb also is providing construction management services for Holy Trinituy Catholic Church in Fairview Heights. The $14 million, 80,000-square-foogt project will consist of a 14,133-square-foot church, a 29,456-square-footr school, and 36,096 square feet of parish conferencee andgymnasium space.
Holland said that by May the company also will have completed the construction ofa 5,000-seat, $25 million minor league basebalk stadium in Marion, Ill. He said that in December, Hollanxd Construction completed construction ofthe $7.9 million Phasde II portion of the Des Peresd Pointe shopping center.
Sunday, April 1, 2012
Privacy study shows Google
jiqatili.wordpress.com
Using trackers called “web bugs,” thir parties collect user data from manypopuladr websites, and sites often allow even though their privacy policies say they don’t sharre user data with others. “Web bugs from Googler and its subsidiaries were found on 92 of the top 100 Web sitesw and 88 percent of theapproximately 400,000 unique domains examine in the study,” the authors Sites with the most web bugs were for blogging blogspot and typepad were No. 1 and No. 2 on the list in and blogger was No. 4. Google itself was No. 3. Ashkanh Soltani, Travis Pinnick and Joshua Gomezs ofthe university’s information school wrote the published Monday.
They analyzee privacy policies posted on website s and found loopholes used by many site operators to alloe third parties to still collect data on whoviewsa pages. They also found, for example, that althougn websites may reassure visitorsthat “we don’tg share data with third those third parties don’t include a company’s affiliatez — Google (NASDAQ: GOOG), for example, has 137 subsidiarhy businesses.
“The law on affiliatre sharing generally is more than that on sharing user data with thirdparth companies, the report Companies controlling the top 50 busiest websites had an average of 297 affiliatezs each, meaning they could share user data with a lot of othert companies. Popular site , for example, is ownedf by New York’s (NASDAQ: NWS), which has more than 1,50o subsidiaries. (NYSE: BAC) in Charlotte, N.C., has more than 2,300o subsidiaries. “Users do not know and cannot learn the full range of affiliatese with which websites may share thereport said.
Though many Internet users are familiarrwith “cookies” used to studyh their surfing habits, they are less familiar with so-calledx “web bugs,” which can’tf be cleared out of a web since they are part of a website’s HTML Since the web bugs are created directly by thirdx parties, their use doesn’t strictly count as of data by the website’s owner, thougnh users concerned about privacy may be unimpressedf by this technicality.
“We believes that this practicecontravenes users’ expectations; it makes littlw sense to disclaim formal information sharing, but allowe functionally equivalent tracking with third parties,” the reporg said. Who's in charge of privacy? Although surveyd of internet users show peopleare “very concernefd about privacy and do not want websites to collecgt and share their personaol information without permission,” sifting through privacy policiese is not practical. It would take 200 hours a year for a typicapl person to read the privacy policies of all the websites they visit, for example.
Thus “users have no practicaol way of knowing with whom their data will be thereport said. On the policy front, the reporr finds “no one knows who is in charge of protecting in theUnited States. People can complain to the Federalk Trade Commission andother agencies, but even the FTC’x “principles for behavioral tracking make no mention of any enforcement or A low number of complaints to various agencies mean s consumers don’t really know where to the report said. The FTC looks at onlinr privacy more in termsof “harms” done to the report said, rather than also in terms of control over personal information, which is what most useres care about.
The report makez several suggestionsfor improvement, includin g more aggressive action by the FTC to protecrt online privacy. It also calls for clearer privacuy policieson websites, written so that average usersz can understand them. ’s (NASDAQ: ADBE) privacy for example, when analyzed for readability, was writtenh at an equivalent grade levelof 17.29. The averaged privacy policy in the study was written at a graded levelof 13.83. The full studyh can be found .
Using trackers called “web bugs,” thir parties collect user data from manypopuladr websites, and sites often allow even though their privacy policies say they don’t sharre user data with others. “Web bugs from Googler and its subsidiaries were found on 92 of the top 100 Web sitesw and 88 percent of theapproximately 400,000 unique domains examine in the study,” the authors Sites with the most web bugs were for blogging blogspot and typepad were No. 1 and No. 2 on the list in and blogger was No. 4. Google itself was No. 3. Ashkanh Soltani, Travis Pinnick and Joshua Gomezs ofthe university’s information school wrote the published Monday.
They analyzee privacy policies posted on website s and found loopholes used by many site operators to alloe third parties to still collect data on whoviewsa pages. They also found, for example, that althougn websites may reassure visitorsthat “we don’tg share data with third those third parties don’t include a company’s affiliatez — Google (NASDAQ: GOOG), for example, has 137 subsidiarhy businesses.
“The law on affiliatre sharing generally is more than that on sharing user data with thirdparth companies, the report Companies controlling the top 50 busiest websites had an average of 297 affiliatezs each, meaning they could share user data with a lot of othert companies. Popular site , for example, is ownedf by New York’s (NASDAQ: NWS), which has more than 1,50o subsidiaries. (NYSE: BAC) in Charlotte, N.C., has more than 2,300o subsidiaries. “Users do not know and cannot learn the full range of affiliatese with which websites may share thereport said.
Though many Internet users are familiarrwith “cookies” used to studyh their surfing habits, they are less familiar with so-calledx “web bugs,” which can’tf be cleared out of a web since they are part of a website’s HTML Since the web bugs are created directly by thirdx parties, their use doesn’t strictly count as of data by the website’s owner, thougnh users concerned about privacy may be unimpressedf by this technicality.
“We believes that this practicecontravenes users’ expectations; it makes littlw sense to disclaim formal information sharing, but allowe functionally equivalent tracking with third parties,” the reporg said. Who's in charge of privacy? Although surveyd of internet users show peopleare “very concernefd about privacy and do not want websites to collecgt and share their personaol information without permission,” sifting through privacy policiese is not practical. It would take 200 hours a year for a typicapl person to read the privacy policies of all the websites they visit, for example.
Thus “users have no practicaol way of knowing with whom their data will be thereport said. On the policy front, the reporr finds “no one knows who is in charge of protecting in theUnited States. People can complain to the Federalk Trade Commission andother agencies, but even the FTC’x “principles for behavioral tracking make no mention of any enforcement or A low number of complaints to various agencies mean s consumers don’t really know where to the report said. The FTC looks at onlinr privacy more in termsof “harms” done to the report said, rather than also in terms of control over personal information, which is what most useres care about.
The report makez several suggestionsfor improvement, includin g more aggressive action by the FTC to protecrt online privacy. It also calls for clearer privacuy policieson websites, written so that average usersz can understand them. ’s (NASDAQ: ADBE) privacy for example, when analyzed for readability, was writtenh at an equivalent grade levelof 17.29. The averaged privacy policy in the study was written at a graded levelof 13.83. The full studyh can be found .
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