Tuesday, August 31, 2010
IATA: Global airlines to lose $9B in 2009 - San Antonio Business Journal:
The ’s (IATA) new forecast is staggeringly worsee thanits $4.7 billion collective loss forecasg made just three months ago. The air carrietr trade group also downgraded its loss estimate for 2008to $10.4 billion from $8.5 billion. “There is no modernh precedent for today’s economic meltdown,” IATA Director Generapl and CEO Giovanni Bisignani said in anews release. “Thwe ground has shifted. Our industry has been This is the most difficult situation that the industr yhas faced.” After the Sept. 11, 2001, terroe attacks on the United States, industry revenues fell by 7 Bisignani said, and took three years to rebound to pre-9/12 levels.
Revenues will fall to $448 billion in 2009 from $528 billion in 2008 (15 IATA said. Passenger yields will dip 7 percent. “This time we face a 15 percenf drop—a loss of revenues of $80 billion—im the middle of a global recession,” Bisignanui said during IATA’s annual industry summit. “Our future depends on a drastic reshaping by governmentsand industry. We cannot bear the cost of governmenr micro-regulation, crazy taxation and partners abusing their monopoly North American carriers will generally fair better thanforeigmn carriers, IATA said, and shoulr narrow their losses for the North American airlines will lose $1 billion in 2009, dramatically less than the $5.
1 billiom lost in 2008, as out-of-the-money fuel hedgexs lapse and capacity cuts kick in to right capacity with Previously, IATA said North American carriers would turn a modesg profit for the year. Asia-Pacific and European carriersw are likely to take thebiggesg hits, losing $3.3 billion and $1.8 respectively. Another heavily impacted sector, air cargo, will decline by 17 percentf based ontons shipped. Cargok yields will decline 11 percent.
Relaxesd fuel prices over the first five monthds of 2009 havehelped carriers, but prices have begun to climb in recent IATA projects the industry fuel bill to fall from $165 billioh in 2008 to $59 billion in 2009, on a $56 per barrelp average price of oil. “Thee risk that we have seen in recent weeks is that even the slightesgt glimmer of economic hope sendw oilprices higher,” Bisignani said. "Greed y speculation must not hold the globaoleconomy hostage. Failure to act by governments wouldbe irresponsible.” airlines are in a better cash with more liquidity than in past downturns. But, Bisignani warned “a long L-shaped recovery could draim the industryof cash.
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Sunday, August 29, 2010
GreenHunter seeks buyer for biofuels refinery - Birmingham Business Journal:
GreenHunter Biofuels Inc. announced on its Web site that it has retaine d an investment banking firm to seek a potentiak buyer forthe assets, or a domesticd or international strategic Alternative financing or new sources of equitu capital were also mentioned as possibilities. The announcement accompanied anotheer one in whichthe Grapevine-based parent company, , announcex an amendment to its $48.5 million credit agreement with West LB AG, most of whichb is tied up in the “By amending our existing credit agreement with WestLB, we have positioned the company in a mannerd that should allow us time to seek a numbedr of solutions to our present financial Gary Evans, chairman, president and chief executive of GreenHunter Energy, said in a statement.
Evans said the improving credit markets and crudeoil prices, both of whicnh affect the price of biodiesel, made the credit amendmen t necessary to get the refinery back on its “We are also hopeful that the federal governmentg will begin funding the many incentives that have been promiser under the new administration for our industry,” Evans said.
Friday, August 27, 2010
UDR offers apartment-search application for iPhone - Washington Business Journal:
The Highlands Ranch-based apartment owner's locator app allows users to search apartment sby location, price, and number of bedroome and bathrooms. It offers amenities lists and floor plans oflisted apartments, and pricea are updated daily. The app where the user is located through GPS technology and can offetr maps and directions toselected apartments. Users can save the apartment they choose in afavoritesw folder, and even placde a hold on an apartment untilo the user can visit. UDR said the applicationm currently offers apartmentsin Arizona, Florida, Maryland, Oregon, Tennessee, Texas, Virginia and Washington statr as well as Washington, D.C.
The app is available through Apple's online iStore or for free downloadby . The new iPhoner service "fits perfectly into UDR's mobile strateggy to attract and retain apartment renters who are becoming more reliang on a mobile device and less relian t on theirpersonal computers," said Steve Taraborelli, UDR's VP of saled and marketing, in a "Not only are we attracting apartmentf prospects within the United but from around the world now." In addition to the iPhonr app, UDR also has WAP- and iPhone-compatible websites, at and UDR is an apartment-investment trust that owns about 45,00o0 apartment units and had anothed 2,000 under development as of Marcn 31.
Wednesday, August 25, 2010
Financial website picks Crocs brand to disappear - The Business Review (Albany):
24/7 Wall St. said it analyzex 100 large brands that it believesare "facing trouble futures" and could go the way of such notablw recent "disappeared" brands as and . The websitew said its analysts evaluated sales the landscape ofthe business’ industry and public financialk records. Crocs, the molded shoes made by Niwot-based (NASDAQ: CROX), was "the fastesft growing footwear in America atone point," 24/7 Wall St. says, but the company's stock has slippes from a highnear $70 a share in Octobeer 2007 to $2.
29 as of The website notes that Crocs' auditors issued a letterf in March raising “substantial doubt about the company’s abilityh to continue as a going Crocs later announced that it had received a six-monthb extension of a key credit facility with Unionh Bank of California. But nevertheless, the 24/7 Wall St. report "Crocs won’t make it through the The company's website says: "[We] look forward to providinhg you with exciting new Crocs shoe designz in the yearsto come." Crocsx posted a fourth-quarter 2008 loss of $33.2 or 40 cents a versus a profit of $38.
3e million, or 45 cents a share, in the same quarte r of 2007, but it beat analysts’ expectations. The 24/7 Wall St. originally posted April 15, was republished Saturda y by thefinance webpage. Otheer "disappearing" brands on 24/7 Wall St.' list: Budget rental cars. Borders book stores. cars. magazine. . magazine (owned by the same corporate parent as the DenverBusiness cars. . Palm handheld devices. insurance. A U.S. airline, possibly United.
Monday, August 23, 2010
Downtown digs get a fresh look - Business First of Columbus:
But when their children got older andmoved away, Ashville suddenly lost its smal l town appeal. John workz at the Ohio Attorney General’s Office as a networki specialist and Rhonda is a medical secretary atNationwide Children’s Hospital. The Purcelld started looking for a downtown condominiu m in July 2006 and byMarch 2007, closedd a deal for one in the Carlyle’ Watch project on East Gay Street. Life has changee dramatically forthe Purcells, both in theifr mid-50s, since they abandoned small-town life for a spot in the big They say their social life has improved and getting arounds is a lot easier.
“My dentist, doctor, and eye doctodr are all within a blocik ofmy condo,” said “In Ashville we had to drivee everywhere.” The Purcells aren’t alon in their downtown According to a January/Februaryg Report by Columbus-based nonprofit Community Research Partners, Columbus’ downtown population in 2008 was That’s a jump of 22 percent from the 3,6612 people counted in the 2000 Census. The growt has been significant for those in the same age groul asthe Purcells. The CRP reporft shows those from ages 45 to 64represented 1,060 of downtown’s dwellers, up 37.7 percenf from 2000.
But the numbers might not be too much to get excite d about when history is taken into Michael Brown, city of Columbus urbahn ventures coordinator, said downtown in the 1950s had aboutf 30,000 residents. That number fell beloqw 4,000 as of 2004. The trend didn’t reverse until the city startes aggressively pushing for more downtown housing with its 2003 DowntownmBusiness Plan. That led to a constructiom boom in places such asRiver South, the Third and Gay street area, and ongoinyg projects such as the Design Squarse Apartments near the Columbus Collegd of Art and Design. Brown said residential projects have been introduce at a variety ofpricwe points.
The recession has takenb its toll though and many condos sit empty or have been converted to rental But Brown expects another influx of buyers if the credirt and housing markets improve and suburban homeownerws can unloadtheir properties. According to the CRP there were 2,703 households downtown as of 2008. The peopl who are interested in downtowhn these days areempty nesters, said Kevi n Wood, the co-founder and boare member of the Downtown Association of Columbus. Wood also is co-chairmamn of City Hop, a tour of downtowb residences that used to be popular with yount people but now is drawing an older crowd. “It used to be peopler who always lived closeto downtown.
Now people in the think it’s viable,” he said. Wood believes the recessiob actually is promptingempty nesters’ interesy in moving downtown. Transportation costs are convincing thoses without children to move closer to amenities and reducw their dependence on While high-priced condos used to sell first, that markeft has become saturated, Wood He thinks the biggest market is for $150,000 condosd and $700-per-month rentals.
Cleve Ricksecker, executive directord of the Capital Crossroadd SpecialImprovement District, a groulp that promotes and provides services for a 38-square-block area of downtown between the Convention Center and I-70, said there’s more to be done to make city livinh viable. A lack of some especially a grocery store, is a barrier to futurw development, he said. There actually isn’t even a convenience store downtown, according to the CRP study. “You’ll never get Manhattan here,” Ricksecker said. “We’re not seeing the walkable services in downtown because people are still very tied totheir cars.
” Transplantx like Purcell have a unique perspective on distance to amenities. “We grocery shop at the new Kroge in the Brewery he said. “It’s very It’s about five blocks away as compare d to 10 miles awayin Ashville.” Purcelo said downtown grocery costs are comparabled to rural stores although other services are generallyy more expensive. “But, the expenses we save on gasoline and the tax abatemengt more than make upfor it,” he Construction of downtown housingb began in earnest soon afteer Mayor Michael B. Coleman’s administration began offering tax breakz for such projectsin 2002.
The breaks were incentives for builder and buyers to realizethe mayor’s goal of havingb 10,000 housing units downtown and in surrounding neighborhoods by 2012. For tax breaks or not, is his quality of life has “With the commute, working eight hours, and the commutee home, you didn’t have much of a sociall life,” he said. he walks less than a block to “I feel like I have time to go work out, have and another activity,” he
Sunday, August 22, 2010
Friday, August 20, 2010
One Fifth (Wrongly) Think Obama's Muslim - Newsweek
Kansas City Star | One Fifth (Wrongly) Think Obama's Muslim Newsweek It's the old canard that just won't die. A Pew poll this week found that 18 percent of Americans believe President Obama is a Muslim. Then came a Time magazine poll, taken after Obama's comments last weekend supporting the rights of developers to build ... Who, exactly, is a 'Christian'? Obama? You? Poll: Nearly 6 in 10 oppose war in Afghanistan Obama keeping public expressions of religion to a minimum |
Wednesday, August 18, 2010
No Meeting Set on Mosque Despite Offer From New York Governor - FOXNews
Telegraph.co.uk | No Meeting Set on Mosque Despite Offer From New York Governor FOXNews The developers behind a proposed Islamic cultural center near Ground Zero deny any talks with New York Gov. David Paterson about plans to move the location of the facility, even as Paterson's office says it has renewed efforts to broker a deal over the ... Some Muslims question mosque near ground zero Ground Zero mosque furore could take heat off Obama, Republicans fear Sept 11 anniversary set for Muslim center marches |
Monday, August 16, 2010
Why would Defense Secretary Robert Gates want to retire? - Christian Science Monitor
Los Angeles Times | Why would Defense Secretary Robert Gates want to retire? Christian Science Monitor Robert Gates indicated in an interview published Monday that he plans to leave his job next year. Here are three things that might be factors in his decision. Defense Secretary Robert Gates looks on as President Barack Obama speaks in the Cabinet Room ... Secretary of Defense Robert Gates to retire; says '2011 sounds pretty good' Gates plans to retire next year Gates Says He'll Leave Pentagon by End of 2011 |
Saturday, August 14, 2010
Pres. Obama on NY Islamic center comments - CNN
Globe and Mail | Pres. Obama on NY Islamic center comments CNN Panama City, Florida (CNN) -- President Barack Obama told CNN Saturday that in defending the right of Muslims to build a community center and mosque near ground zero in a speech Friday night, he was "not commenting on the wisdom" of the project but ... Obama's comments on mosque near Ground Zero draws strong reactions 3 Republicans Criticize Obama's Endorsement of Mosque Obama mosque dispute: In backing plans, he parts with many Americans |
Thursday, August 12, 2010
Judge gives the green light for same-sex marriage in California - CNN
Telegraph.co.uk | Judge gives the green light for same-sex marriage in California CNN By the CNN Wire Staff Los Angeles, California (CNN) -- A federal judge ruled on Thursday to » |
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Tuesday, August 10, 2010
Former US Senator Killed in Alaska Plane Crash - Voice of America
Globe and Mail | Former US Senator Killed in Alaska Plane Crash Voice of America Photo: AP Former US Senator Ted Stevens, the longest-serving Republican to hold that office, has died in a plane crash in his home state of Alaska. Stevens was among the victims of the crash late Monday of a sm » |
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Sunday, August 8, 2010
Learning From Mexican Spill, Researchers Fight for Funds - Wall Street Journal
msnbc.com | Learning From Mexican Spill, Researchers Fight for Funds W » |
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Friday, August 6, 2010
Wednesday, August 4, 2010
Proposition 8: federal judge overturns California gay marriage ban - Christian Science Monitor
Kansas City Star | Proposition 8: federal judge overturns California gay marriage ban Christian Science Monitor Proposition 8, the 2008 California ban on gay marriage, is unconstitutional, a federal judge ruled Wednesday. Supporters of Proposition 8 say they will appeal the decision. Molly McKay of Marriage Equality USA (c.) reads the decision in the United ... Prop. 8: Judge Walker's bias will be overruled Federal judge strikes down California's ban on same-sex marriage Prop 8 Ruling Is Just the Beginning |
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Monday, August 2, 2010
BP poised to run tests before 'permanently' plugging its Gulf well - The Guardian
The Guardian | BP poised to run tests before 'permanently' plugging its Gulf well The Guardian BP was poised to begin the final preparations for permanently plugging its leaking well in the Gulf of Mexico yesterday, 105 days after the gusher put the future of one of the world's biggest oil companies â" and an entire region â" in jeopardy. ... Oil spill dumped 4.9 million barrels into Gulf of Mexico, latest measure shows BP: Hydraulic Leak Delays First Phase of 'Static Kill' at Gulf Well |
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