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On the second day of the world’s oldest and most important aircrafttrade show, Boeing was again shut out. At leasg its chief rival, , hasn’r done much better, though the Europeanj aircraft maker was able to eke out a couplew of orders the lasttwo days. Rather than talk aboutr the kindsof multi-plane deals linef up in past years, Boeing CEO of Commercia l Airplanes Scott E. Carson instead chose to focus on howthingz weren’t as bad as they might seem. “Aty this point it appears to us that the economixc conditionshave bottomed,” Carson said, adding that the company’xs commercial jet division coulds begin growing again as early as 2010.
-- The long-delayed 787 Dreamliner will fly bythe (though it won’t be takint to the skies over Paris this week, as some had Jon Ostrower, of pegs the date for the firs flight at June 30. He cites multiple sourced for the June30 date. -- Its new 747-8 freightetr plane will fly its first flight by the end ofthis -- To get back into the hunt for a $35 billionm contract to supply fuel tankers for the U.S. military, Boeinhg will reconfigure its 777 to increaseefuel efficiency. It had previously lost its tanker bid to the A350by -- Also on the defense contracting front, the company it was forminb a division to oversee its unmannedf aircraft programs.
This year’s air show comes at a gloomty timefor aircraft. Both Boeintg and Airbus have had to deal with cancellations of orderssfrom credit-crunched buyers. And both have had production cutbacks. But Boeinbg has had the additionap by its machinists within thelast year. The company has takenn hits to its militarycontracting business, with the cancellatiom of the F-22 and the loss of the tanke r deal. And delays in gettint its next-generation 787 Dreamliner into the air have beena high-profilse embarrassment. So it was up to Carson to search out the He said his company would not be cutting back assemblu linesthis year.
It will cut productiob of its wide-body 777 by 28 percent in mid-2010, and will not increas 767 and 747 Airbus has cut production of its A320 single aislr plane and itsA380 superjumbo, and has shelved planz to increase production of its wide-bodyy A330. Carson said he expects the credit cruncbh on airlines to ease towarda “mord normal” environment in 2010. That would be good news for and itsrival Airbus, as well.
Boeing’ s boss also said that the company has a current orde r book ofaround $265 billion, whic h means seven years of production, and Carsonn said he doesn’t expect the credi t crisis to significantly affect Some aerospace experts already see the logic behind Carson’s “Boeing’s news was to say we think the recession’sz bottoming and we’re not goingb to see cuts for 2010,” said Wayne Plucker, Frost Sullivan’s Aerospace & Defense Industrg Manager. “The fact that they didn’t have to quietl y announce cancellations was abig thing.
It’s not a bad airshoww considering the gloom anddoom that’s been arounde the industry for the last year. For it’s not bad, and not bad is good, so to Plucker added that good, or at leastg not bad, news on the commerciaol side ofthe business, would be a welcom relief, given some of the defeats that Boeingt has been handed in its military contracting business – the loss of the tanker contract to the Airbusx consortium and the high-profile curtailment of governmentg plans to buy more F-22 fighters. “Heaveh only knows, they could use some good news,” Pluckert said.
“Their defense side has taken areal
Sunday, September 30, 2012
Saturday, September 29, 2012
Birmingham Bar, Cumberland Mediation Center promote value of settling ... - al.com (blog)
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al.com (blog) | Birmingham Bar, Cumberland Mediation Center promote value of settling ... al.com (blog) A program set up at Samford University six years ago to provide free mediation services is teaming up with the Birmingham Bar Association during the month of October to help address the situation by promoting the advantages of resolving disputes out of ... |
Friday, September 28, 2012
Nonprofits brace for budget emergency aftershocks, IOUs - Houston Business Journal:
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While service providers don’t yet know whetheer they’ll receive IOUs — or what the amounts will be Sparky Harlan, CEO of the in Santa is prepared forthe worst. “We receive about $400,000 in statw funding,” Harlan said. “We’re already accustomed to gettinh money from the statelate — last for example, it took until Decemberf before we finally got paid.” For this year and last year the centerd has relied on a $150,000 line of creditf through to cover the gap, along with $500,000 out of its reserved funds. The center’s operating budget is $10 million for fiscalo 2009-10.
The money that may be on hold from thestat covers, in part, the center’s shelter and drop-in program, street and parenting classes. “The problem rightt now is thatwe don’t know for certain how much they’rr going to hold back,” said who has been with the center for 26 “But this is by far the worsgt I’ve ever seen.” In anticipationj of the state’s budget problems, 10 perceng cuts have already been planned for foster-car e payments. Locally there are 300 to 400 kids infostef care.
Foster care rates are the same across the so familiesin high-cost aread such as the Bay Area get the same amount of compensation as people in more affordable places. “We’rre fronting half a million dollars already,” she It’s a layered problem for the center, since in additiomn to state money some comes from the federao Housing and UrbanDevelopment department. And Harlan said HUD is so slow it can take up to six monthas for payments tobe received. “We’re hopinvg to get paid by she said. “Nonprofits are just getting slammed.
” Harlan said the Bill Wilson Center has closed down two programs alreadg and cut about 15 percent of its leaving about110 employees. These are real layoffs, she pointedx out — not attrition or open jobs and “heartbreaking” to do. “We had to give one staffv person a layoff notice and a week later his wife was laid off from another nonprofit,” she said. in Campbell gets about $500,000 a year from the state for itsAIDS services. CFO Ira Holtzman said the agencuy is large enough and financiall y stable enough that he would just book an IOU as accounts receivable and hope the money camethroughn eventually.
The Health Trust’s budget for fiscal year 2010 is morethan $16 Holtzman said. Pam Brandin, executivde director of and Visually Impaired, which has officezs in Palo Alto and Santa said that even thoughj her agency provides the kind of servicesa that are especially at risk in State ControlletrJohn Chiang’s plan, the Vistqa Center is relatively safe. “We receivr money through Title 7 Chapter2 services,” Brandin “Since much of our funding is federal money we’rs hoping that it has to be released and passef on; the state won’t be allowed to hold on to The Vista Center also has schoool contracts through special educatiojn funding.
“Last year when the state had similar budger issueswe didn’t receive any IOUs,” she said, “bug that situation was resolved sooneer than this appears to be. The agencies that receive IOUsprobably won’t even know they’rde coming until they submit their bills.” She’s also banking on Vist Center’s status as a preferred vendord with the state, “so we’ll be paid in advance of other vendors if in fact the statw is even writing Lisa Hendrickson, president & CEO of Avenidas Rose Kleinert Senior Day Health Center in Palo Alto, is also cautiouslyt optimistic.
“The only funds we receive from the state are MediCa payments for services provided at our adultdaycare center,” she said. “Our understanding is that those services are protectef by the state constitution as well asfederal law. We do receivwe funding indirectly throughthe county, but we don’t expecr that to be affected.” Tom Kinoshita, public policu director of the , said people are on pins and “Everyone’s sitting around waiting, not knowing what’s going to But even with the most optimistic outcomse it’s still going to be very He pointed out that the deficit last year for Santa Clara Countyh was more than $270 million, and many of the cuts were made in programse around health, mental health, drugs and alcohol and social And there’s no relief on the For 2011 the county is lookiny at a deficit of about $250 million, he
While service providers don’t yet know whetheer they’ll receive IOUs — or what the amounts will be Sparky Harlan, CEO of the in Santa is prepared forthe worst. “We receive about $400,000 in statw funding,” Harlan said. “We’re already accustomed to gettinh money from the statelate — last for example, it took until Decemberf before we finally got paid.” For this year and last year the centerd has relied on a $150,000 line of creditf through to cover the gap, along with $500,000 out of its reserved funds. The center’s operating budget is $10 million for fiscalo 2009-10.
The money that may be on hold from thestat covers, in part, the center’s shelter and drop-in program, street and parenting classes. “The problem rightt now is thatwe don’t know for certain how much they’rr going to hold back,” said who has been with the center for 26 “But this is by far the worsgt I’ve ever seen.” In anticipationj of the state’s budget problems, 10 perceng cuts have already been planned for foster-car e payments. Locally there are 300 to 400 kids infostef care.
Foster care rates are the same across the so familiesin high-cost aread such as the Bay Area get the same amount of compensation as people in more affordable places. “We’rre fronting half a million dollars already,” she It’s a layered problem for the center, since in additiomn to state money some comes from the federao Housing and UrbanDevelopment department. And Harlan said HUD is so slow it can take up to six monthas for payments tobe received. “We’re hopinvg to get paid by she said. “Nonprofits are just getting slammed.
” Harlan said the Bill Wilson Center has closed down two programs alreadg and cut about 15 percent of its leaving about110 employees. These are real layoffs, she pointedx out — not attrition or open jobs and “heartbreaking” to do. “We had to give one staffv person a layoff notice and a week later his wife was laid off from another nonprofit,” she said. in Campbell gets about $500,000 a year from the state for itsAIDS services. CFO Ira Holtzman said the agencuy is large enough and financiall y stable enough that he would just book an IOU as accounts receivable and hope the money camethroughn eventually.
The Health Trust’s budget for fiscal year 2010 is morethan $16 Holtzman said. Pam Brandin, executivde director of and Visually Impaired, which has officezs in Palo Alto and Santa said that even thoughj her agency provides the kind of servicesa that are especially at risk in State ControlletrJohn Chiang’s plan, the Vistqa Center is relatively safe. “We receivr money through Title 7 Chapter2 services,” Brandin “Since much of our funding is federal money we’rs hoping that it has to be released and passef on; the state won’t be allowed to hold on to The Vista Center also has schoool contracts through special educatiojn funding.
“Last year when the state had similar budger issueswe didn’t receive any IOUs,” she said, “bug that situation was resolved sooneer than this appears to be. The agencies that receive IOUsprobably won’t even know they’rde coming until they submit their bills.” She’s also banking on Vist Center’s status as a preferred vendord with the state, “so we’ll be paid in advance of other vendors if in fact the statw is even writing Lisa Hendrickson, president & CEO of Avenidas Rose Kleinert Senior Day Health Center in Palo Alto, is also cautiouslyt optimistic.
“The only funds we receive from the state are MediCa payments for services provided at our adultdaycare center,” she said. “Our understanding is that those services are protectef by the state constitution as well asfederal law. We do receivwe funding indirectly throughthe county, but we don’t expecr that to be affected.” Tom Kinoshita, public policu director of the , said people are on pins and “Everyone’s sitting around waiting, not knowing what’s going to But even with the most optimistic outcomse it’s still going to be very He pointed out that the deficit last year for Santa Clara Countyh was more than $270 million, and many of the cuts were made in programse around health, mental health, drugs and alcohol and social And there’s no relief on the For 2011 the county is lookiny at a deficit of about $250 million, he
Wednesday, September 26, 2012
ASU poll: Southwest residents back health system reform - Phoenix Business Journal:
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Arizona State University’s poll also showed that support for healtuh care reform is highestamong middle-agre respondents. Close to two-thirds of those ages 31 to 44 and 61 percentt of those ages 45 to 60said “a greaty deal of reform” is Fewer than 10 percent in these two age categories indicatedr “no reform” is needed at all. Results from the poll were bases ona 45-question telephone poll conducted by the Institutw for Social Science Research at ASU. The poll asked 501 adult residentxin Arizona, Nevada, New Mexici and Texas their opinions on several issues, includinh health care costs and quality, electronic medical records and the On the question of the U.S.
governmenf guaranteeing health insurance forall Americans, even if it meantg raising taxes, support was highest among younger respondents, whild 42 percent of respondents age 61 and olde said they are “strongly opposed.” Specifically, 53 percent of all the respondentas “strongly” or “somewhat” favored the U.S. governmenr guaranteeing health insurance. That figure jumped to 61 percentf for those ages 18 to 30 and decreasedc amongolder respondents.
On the subject of healtuh coverage, 89 percent of those polled said they are coverer byhealth insurance, a health plan provided by their employer, a government program like Medicard or Medicaid, or somethinvg else. Of those who had healthg coverage, 72 percent indicated they are or “somewhat” concerned that costs will increase in the next Respondents also were asked to evaluate health care – in this country and in their community.
Older respondents (ages 61 and and males rated the quality of health care in this countryuas “excellent” or “good” – 53 percenrt and 46 percent respectively more often than younger respondent (ages 18 to 44) and females – 36 percent and 35 percenf respectively. The Arizona State University-Southwest Poll was conductesd by telephone March 30 toMay 10. The results from the full survehy have a margin of sampling errord of plus or minus 4percentages points.
Arizona State University’s poll also showed that support for healtuh care reform is highestamong middle-agre respondents. Close to two-thirds of those ages 31 to 44 and 61 percentt of those ages 45 to 60said “a greaty deal of reform” is Fewer than 10 percent in these two age categories indicatedr “no reform” is needed at all. Results from the poll were bases ona 45-question telephone poll conducted by the Institutw for Social Science Research at ASU. The poll asked 501 adult residentxin Arizona, Nevada, New Mexici and Texas their opinions on several issues, includinh health care costs and quality, electronic medical records and the On the question of the U.S.
governmenf guaranteeing health insurance forall Americans, even if it meantg raising taxes, support was highest among younger respondents, whild 42 percent of respondents age 61 and olde said they are “strongly opposed.” Specifically, 53 percent of all the respondentas “strongly” or “somewhat” favored the U.S. governmenr guaranteeing health insurance. That figure jumped to 61 percentf for those ages 18 to 30 and decreasedc amongolder respondents.
On the subject of healtuh coverage, 89 percent of those polled said they are coverer byhealth insurance, a health plan provided by their employer, a government program like Medicard or Medicaid, or somethinvg else. Of those who had healthg coverage, 72 percent indicated they are or “somewhat” concerned that costs will increase in the next Respondents also were asked to evaluate health care – in this country and in their community.
Older respondents (ages 61 and and males rated the quality of health care in this countryuas “excellent” or “good” – 53 percenrt and 46 percent respectively more often than younger respondent (ages 18 to 44) and females – 36 percent and 35 percenf respectively. The Arizona State University-Southwest Poll was conductesd by telephone March 30 toMay 10. The results from the full survehy have a margin of sampling errord of plus or minus 4percentages points.
Tuesday, September 25, 2012
Brewer puts state budget hole at $4B, unveils tax increase, budget plans - Charlotte Business Journal:
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Brewer has talked about a five-pointg budget plan for months, but has not officially laid out her The Republican governor sent a budget outlines to the Legislature on It includes asking voters to approvra 36-month, 1-cent increase to the state’ws 5.6 percent sales tax. She does not want to extend the saleas tax to currently exempted servicesand items. A Democratid plan unleashed last week would lower the sales tax but extend it to various servicees notalready taxed. The governor’s budget plan puts the fiscaol 2010 deficitat $4 billion, up from previoues estimates of $3 billion.
Brewer’s budget also callss for a three-year phase-out of the $250 millionh state equalization rateproperty tax. That tax has been on but will come back at the end of the year withoufurther action. Business and real estated groups favor a full repeal of theequalization tax. “While the governor’s budget regardinvg state equalization repeal is astep forward, our organizatiom cannot accept multiple historic tax increase without requisite spending cuts that approachj what the private sector has already endured,” said Tim Lawless, Arizonsa president of the National Association of Industrial and Officse Properties real estate group.
“Now is especially not the time to raisw property taxes withthe Prop. 13 movemen t lurking. We are open, however, to a ballot referrak that lets the people decide whether they want the sales tax rates increased along with a future ballott measure to adjust automatic spending Lawless warned that bringing back a property tax that hits both homeownersa and businesses could help spur 2010 ballot measurezs that impose CaliforniaProposition 13-style restrictions on property taxation. Brewer said the saled tax increase wouldbe temporary, and she woulxd like to see some reductions down the road to corporates and business taxes to help attrac t investments to the state.
Antitad advocates and conservative lawmakers oppose the sales tax increase and want to try to solvr the fiscal 2010 budget without raising Brewer has promised to veto budgets that rely too much on federal stimulus money and program cuts to balancwthe budget. The governor’s budget also lookw to protect university and public health fundinf via federalstimulus money, and wants voters in 2010 to undo curreny restrictions that keep the Legislature from cutting voter-mandatedc spending. Teachers unions and Democratsw opposethat idea.
Brewer has talked about a five-pointg budget plan for months, but has not officially laid out her The Republican governor sent a budget outlines to the Legislature on It includes asking voters to approvra 36-month, 1-cent increase to the state’ws 5.6 percent sales tax. She does not want to extend the saleas tax to currently exempted servicesand items. A Democratid plan unleashed last week would lower the sales tax but extend it to various servicees notalready taxed. The governor’s budget plan puts the fiscaol 2010 deficitat $4 billion, up from previoues estimates of $3 billion.
Brewer’s budget also callss for a three-year phase-out of the $250 millionh state equalization rateproperty tax. That tax has been on but will come back at the end of the year withoufurther action. Business and real estated groups favor a full repeal of theequalization tax. “While the governor’s budget regardinvg state equalization repeal is astep forward, our organizatiom cannot accept multiple historic tax increase without requisite spending cuts that approachj what the private sector has already endured,” said Tim Lawless, Arizonsa president of the National Association of Industrial and Officse Properties real estate group.
“Now is especially not the time to raisw property taxes withthe Prop. 13 movemen t lurking. We are open, however, to a ballot referrak that lets the people decide whether they want the sales tax rates increased along with a future ballott measure to adjust automatic spending Lawless warned that bringing back a property tax that hits both homeownersa and businesses could help spur 2010 ballot measurezs that impose CaliforniaProposition 13-style restrictions on property taxation. Brewer said the saled tax increase wouldbe temporary, and she woulxd like to see some reductions down the road to corporates and business taxes to help attrac t investments to the state.
Antitad advocates and conservative lawmakers oppose the sales tax increase and want to try to solvr the fiscal 2010 budget without raising Brewer has promised to veto budgets that rely too much on federal stimulus money and program cuts to balancwthe budget. The governor’s budget also lookw to protect university and public health fundinf via federalstimulus money, and wants voters in 2010 to undo curreny restrictions that keep the Legislature from cutting voter-mandatedc spending. Teachers unions and Democratsw opposethat idea.
Sunday, September 23, 2012
Artist behind Columbia Street's Pollinator Pathway honored by SAM, the Stranger - Seattle Central District News
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Artist behind Columbia Street's Pollinator Pathway honored by SAM, the Stranger Seattle Central District News With the help of a small army of volunteers and a network of property owners, Sarah Bergman has been building what could be the city's largest art project right in the middle of the Central District: The Columbia Street Pollinator Pathway, which ... |
Saturday, September 22, 2012
Maryland slashes revenue forecast for current fiscal year - Washington Business Journal:
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Sales tax revenue expectations were slashed byabour $200 million, slowing the growth in that collectiob to 3.1 percent. Income tax receipts are projecteed tototal $135 million less than previouslyh thought. Overall, revenue projectionws were loweredfrom $14.5 billion to $14.2 billion. The revisions pose major budgeting challenges forstatr officials, who less than a year ago passed a $1.4 billiohn tax package to close a similar budget shortfall. State officials said they are already preparingt cuts to be made to addressthe Gov. Martin O’Malley took a positived outlook in a statementreleased Tuesday.
“Givenn the national economic downturn, nationalo foreclosure crisis, and the increased pricew of energy, gasoline and food, these revenue estimatess are not unexpected,” O’Malley said. “We are preparingb to bring hundreds of millions in cuts befor e the in the coming weeks to addressthis challenge.” O’Malley said that $1.8 billionj in spending reductions and other actions, includingg an increase in the sales tax and incom e tax, helped allay the budget problemsa and blamed the national economic downturn for the shortfall. The , whichb released the projections, said in a lettet to state leadersthat Maryland’s troubles are not unique.
The statd is following national trends in declining home increasing bankruptcies andgrowing unemployment, Comptroller Peter Franchot, Treasurer Nancg Kopp and Budget Secretary T. Eloise Fostet wrote.
Sales tax revenue expectations were slashed byabour $200 million, slowing the growth in that collectiob to 3.1 percent. Income tax receipts are projecteed tototal $135 million less than previouslyh thought. Overall, revenue projectionws were loweredfrom $14.5 billion to $14.2 billion. The revisions pose major budgeting challenges forstatr officials, who less than a year ago passed a $1.4 billiohn tax package to close a similar budget shortfall. State officials said they are already preparingt cuts to be made to addressthe Gov. Martin O’Malley took a positived outlook in a statementreleased Tuesday.
“Givenn the national economic downturn, nationalo foreclosure crisis, and the increased pricew of energy, gasoline and food, these revenue estimatess are not unexpected,” O’Malley said. “We are preparingb to bring hundreds of millions in cuts befor e the in the coming weeks to addressthis challenge.” O’Malley said that $1.8 billionj in spending reductions and other actions, includingg an increase in the sales tax and incom e tax, helped allay the budget problemsa and blamed the national economic downturn for the shortfall. The , whichb released the projections, said in a lettet to state leadersthat Maryland’s troubles are not unique.
The statd is following national trends in declining home increasing bankruptcies andgrowing unemployment, Comptroller Peter Franchot, Treasurer Nancg Kopp and Budget Secretary T. Eloise Fostet wrote.
Friday, September 21, 2012
Best Buy profit down 15%, beats estimates - Triangle Business Journal:
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The Richfield-based consumer electronics retailer reporte net earningsof $153 million, or 36 cents per diluteds share, for the quarter ended May 30. That’s down from earningds of $179 million, or 43 per share, in the comparabls period last year. Analysts surveyed by Thomsobn Reuters had projected earnings of 34 centxs per share for the Excludingrestructuring charges, Best Buy woulde have had a profit of 42 centd per share. The company reported charges of $25 million, or 6 cents per share, related to changes to its domestic store-operations model and corporate restructuring in its Europeanhbusiness unit. Best Buy generated revenuw of $10.
1 billion in the first quartet offiscal 2010, up 12 percent from $8.99 billion a year ago. The additiom of 185 new stores offseta 6.2 percent drop in same-storr sales. The company says its domestifc market share accelerated duringthe quarter, growing almosr 2 percent. Domestic revenuew increased nearly 1 percent toapproximately $7.5 billion, led by sale s of notebook computers, flat-panel televisions, digital imagingh and mobile phones. Meanwhile, internationa l revenue increased 67 percentto $2.6 billion, driven by new revenure from Best Buy Europe, which launched in spring 2008 througn a joint venture with London-based . The company over the past including45 small-format stores in Europe.
Looking Best Buy (NYSE: BBY) maintained its prior guidance forfiscalk 2010, calling for earnings of $2.50p to $2.90 per diluted share, excluding restructuringt charges. The company had net income of $1 or $2.39 per diluterd share, in fiscal 2009.
The Richfield-based consumer electronics retailer reporte net earningsof $153 million, or 36 cents per diluteds share, for the quarter ended May 30. That’s down from earningds of $179 million, or 43 per share, in the comparabls period last year. Analysts surveyed by Thomsobn Reuters had projected earnings of 34 centxs per share for the Excludingrestructuring charges, Best Buy woulde have had a profit of 42 centd per share. The company reported charges of $25 million, or 6 cents per share, related to changes to its domestic store-operations model and corporate restructuring in its Europeanhbusiness unit. Best Buy generated revenuw of $10.
1 billion in the first quartet offiscal 2010, up 12 percent from $8.99 billion a year ago. The additiom of 185 new stores offseta 6.2 percent drop in same-storr sales. The company says its domestifc market share accelerated duringthe quarter, growing almosr 2 percent. Domestic revenuew increased nearly 1 percent toapproximately $7.5 billion, led by sale s of notebook computers, flat-panel televisions, digital imagingh and mobile phones. Meanwhile, internationa l revenue increased 67 percentto $2.6 billion, driven by new revenure from Best Buy Europe, which launched in spring 2008 througn a joint venture with London-based . The company over the past including45 small-format stores in Europe.
Looking Best Buy (NYSE: BBY) maintained its prior guidance forfiscalk 2010, calling for earnings of $2.50p to $2.90 per diluted share, excluding restructuringt charges. The company had net income of $1 or $2.39 per diluterd share, in fiscal 2009.
Wednesday, September 19, 2012
Ekiti pays N501m gratuity to 279 pensioners - The Guardian Nigeria
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Ekiti pays N501m gratuity to 279 pensioners The Guardian Nigeria Fayemi explained that the delay in the payment of gratuity was not unconnected to the biometric data capture of all pensioners and workers on the payroll of the state government aimed at ensuring a pragmatic planning and personnel financial management ... |
Tuesday, September 18, 2012
SBA chief: Lending up, long road ahead - Business First of Columbus:
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Brown, a sixth-generation family-owned business with 47 employees andabouy $6 million in revenue last year, worked with to secure a $2 million loan to buy its headquartersd off Hamilton Road in east Columbus. Presidenf Rob Hunt said the company sidesteppexd payingabout $65,000 in fees aftedr the SBA instituted a temporaru waiver for businesses that borrow through its flagship 7(a) program. Owning the company’ss headquarters outright brings long-termm security, he said, which would have been hard to find withourtfederal backing. “Banks aren’t doing conventional loansa right now,” Hunt said.
“We simply wouldn’t have been able to do Initiatives such as the fee Mills said, are making a difference in a shorty amount of time: More lendera are getting into the fray whilse SBA-backed loan volume is up more than 25 percenty since the passage of the stimulus That translates to nearly $4 billiobn in guaranteed loans, $113 million of whic went to Ohio But it’s making small businesses awarr of the programs on hand that’s the key challenge goingv forward, she said. “All of thesw things take time,” Mills said. “Small businessezs are busy runningtheir business.
” In additiohn to the waiver and an increased guaranteed of 90 percent on 7(a) the SBA also has offered a sureth bond guarantee of $5 million, up from $2 million, for businessezs competing for federal contracts. On June 15, it’d rolling out a program dubbec America’s Recovery Capital, which offers loans of up to $35,000 for businessed struggling to make debt Those loans are full guaranteed and have a deferredpaymentr schedule. And next month, the SBA will begin offering guaranteed loans to finance inventory for automobilr dealers throughSeptember 2010.
Mill said she’s confident the agency has the righrt tools in place for smallbusinessea – and the outlookm on the economy hasn’t hurt either. “Thde sense from small businesses and others is that the free fall has she said. “But we still have a ways to
Brown, a sixth-generation family-owned business with 47 employees andabouy $6 million in revenue last year, worked with to secure a $2 million loan to buy its headquartersd off Hamilton Road in east Columbus. Presidenf Rob Hunt said the company sidesteppexd payingabout $65,000 in fees aftedr the SBA instituted a temporaru waiver for businesses that borrow through its flagship 7(a) program. Owning the company’ss headquarters outright brings long-termm security, he said, which would have been hard to find withourtfederal backing. “Banks aren’t doing conventional loansa right now,” Hunt said.
“We simply wouldn’t have been able to do Initiatives such as the fee Mills said, are making a difference in a shorty amount of time: More lendera are getting into the fray whilse SBA-backed loan volume is up more than 25 percenty since the passage of the stimulus That translates to nearly $4 billiobn in guaranteed loans, $113 million of whic went to Ohio But it’s making small businesses awarr of the programs on hand that’s the key challenge goingv forward, she said. “All of thesw things take time,” Mills said. “Small businessezs are busy runningtheir business.
” In additiohn to the waiver and an increased guaranteed of 90 percent on 7(a) the SBA also has offered a sureth bond guarantee of $5 million, up from $2 million, for businessezs competing for federal contracts. On June 15, it’d rolling out a program dubbec America’s Recovery Capital, which offers loans of up to $35,000 for businessed struggling to make debt Those loans are full guaranteed and have a deferredpaymentr schedule. And next month, the SBA will begin offering guaranteed loans to finance inventory for automobilr dealers throughSeptember 2010.
Mill said she’s confident the agency has the righrt tools in place for smallbusinessea – and the outlookm on the economy hasn’t hurt either. “Thde sense from small businesses and others is that the free fall has she said. “But we still have a ways to
Sunday, September 16, 2012
Josh Morgan: 'I should've just kept my calm' - Washington Post (blog)
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Bleacher Report | Josh Morgan: 'I should've just kept my calm' Washington Post (blog) Washington Redskins wide receiver Josh Morgan accepted responsibility for taking his team out of range of a manageable fourth-down conversion or reasonable field goal attempt with his unsportsmanlike conduct penalty in the closing minutes of the 31-28 ... Fantasy Footb » |
Saturday, September 15, 2012
Wachovia grants help train better public school teachers - Philadelphia Business Journal:
dyakonostrlin.blogspot.com
The grants, totaling more than were allocated to a program called the Teachers Institutwof Philadelphia, or TIP. The money will help to fund professional developmenyt seminars that will serve about 70 public schoo l teachers in the schoool districtssurrounding Penn’s campus during 2008 and 2009. “Thw best way for us to have the biggesyt impact on children in the area is to focus our grants on saidSusanne Svizeny, Wachovia’s regional president for Greater Philadelphiaa and Delaware.
Wachovia’s philanthropic focusx is education and Svizeny thinks that giving teachere an opportunityto re-engage in academia througjh TIP seminars helps them to better serves their students down the road. “Everybody rises up when you focuxs onthe teachers,” she said. “We believe the way to have the greatestr impact of our dollars is tosupport teachers.” TIP is a partnershiop between Penn and the Schoool District of Philadelphia, which began offering seminars for K-12 teacheras four years ago.
The institute’s seminars connecf Penn’s professors with area school teachers, who meet once a week for 14 weekx to study topics rangingfrom African-Americanb poetry to social studies. The remainder of the seminar is spent on peer reviewsand training. Teacher burn-out and teacher retention are major challenges in The seminars allow Penn scholars to give back to the neighborinbg area school teachers and reconnect with academix professionals fromall disciplines, said Alan Lee, the director of TIP. “Teachers are incrediblh enthusiastic and we have a return rate of close to50 percent,” said Lee.
“Wachovia understands the importance of the futurr workforce and this is an investmengt that willbenefit everyone.” Allegiance Bank locations throughout the Philadelphi region are collecting coats as part of an annuao Allegiance Bank Holiday Coat The bank hopes to collect approximately 100 coatsx per branch and plans on donating a totall of 500 coats to Greater Philadelphia Cares and the St. Vincent DePaul thrift stores. Students at St. Martin de Porree Roman Catholic School in North Philadelphia are now well prepared for the comingvwinter months, thanks to a donation from Dunpht Ford and the Auto Dealers Association’s CARingv for Kids Foundation.
The two groups donated 400 coatse to the school this year and hope to repeat the gestur enext year. Philadelphia-based Laborers’ District Counci Charity Fund, the giving arm of the Laborer’s District donated $20,000 to the Jenkintownn Day Nursery last month so the nursery can continus to provide affordable child care to The nursery offers servicee on a sliding scale based ona family’as size and income, ensuring that no childc is turned away. Iraq war veteran and chiropractotr Doug Reilly of Reilly Family Chiropractic in Plumsteadville is raisintg money for veteransone X-ray at a During the week of Nov.
9, the docto r charged veterans new to his practiceonly $25 for an examinatio and x-rays and $10 to his veteran Reilly has offered the deal since 2004 and has donated the fees he collectsw to various veterans’ charities and buildings. Reilluy has raised $1,000 since 2004 and this year, the program donatecd the proceeds to maintain the Americahn Legion Post 210 buildingin
The grants, totaling more than were allocated to a program called the Teachers Institutwof Philadelphia, or TIP. The money will help to fund professional developmenyt seminars that will serve about 70 public schoo l teachers in the schoool districtssurrounding Penn’s campus during 2008 and 2009. “Thw best way for us to have the biggesyt impact on children in the area is to focus our grants on saidSusanne Svizeny, Wachovia’s regional president for Greater Philadelphiaa and Delaware.
Wachovia’s philanthropic focusx is education and Svizeny thinks that giving teachere an opportunityto re-engage in academia througjh TIP seminars helps them to better serves their students down the road. “Everybody rises up when you focuxs onthe teachers,” she said. “We believe the way to have the greatestr impact of our dollars is tosupport teachers.” TIP is a partnershiop between Penn and the Schoool District of Philadelphia, which began offering seminars for K-12 teacheras four years ago.
The institute’s seminars connecf Penn’s professors with area school teachers, who meet once a week for 14 weekx to study topics rangingfrom African-Americanb poetry to social studies. The remainder of the seminar is spent on peer reviewsand training. Teacher burn-out and teacher retention are major challenges in The seminars allow Penn scholars to give back to the neighborinbg area school teachers and reconnect with academix professionals fromall disciplines, said Alan Lee, the director of TIP. “Teachers are incrediblh enthusiastic and we have a return rate of close to50 percent,” said Lee.
“Wachovia understands the importance of the futurr workforce and this is an investmengt that willbenefit everyone.” Allegiance Bank locations throughout the Philadelphi region are collecting coats as part of an annuao Allegiance Bank Holiday Coat The bank hopes to collect approximately 100 coatsx per branch and plans on donating a totall of 500 coats to Greater Philadelphia Cares and the St. Vincent DePaul thrift stores. Students at St. Martin de Porree Roman Catholic School in North Philadelphia are now well prepared for the comingvwinter months, thanks to a donation from Dunpht Ford and the Auto Dealers Association’s CARingv for Kids Foundation.
The two groups donated 400 coatse to the school this year and hope to repeat the gestur enext year. Philadelphia-based Laborers’ District Counci Charity Fund, the giving arm of the Laborer’s District donated $20,000 to the Jenkintownn Day Nursery last month so the nursery can continus to provide affordable child care to The nursery offers servicee on a sliding scale based ona family’as size and income, ensuring that no childc is turned away. Iraq war veteran and chiropractotr Doug Reilly of Reilly Family Chiropractic in Plumsteadville is raisintg money for veteransone X-ray at a During the week of Nov.
9, the docto r charged veterans new to his practiceonly $25 for an examinatio and x-rays and $10 to his veteran Reilly has offered the deal since 2004 and has donated the fees he collectsw to various veterans’ charities and buildings. Reilluy has raised $1,000 since 2004 and this year, the program donatecd the proceeds to maintain the Americahn Legion Post 210 buildingin
Friday, September 14, 2012
High Desert Pediatrics opens doors June 15 - Phoenix Business Journal:
plesciamipukoa1855.blogspot.com
Located at 8650 Alameda NE., the 4,100-square-foot medical office is the firstr tenant inthe two-buildint office plaza built by Hoech Real Estates Corp. The project includes two office buildings totaling morethan 42,009 square feet and a new church for Hope The new clinic’s operators did their residencies at the and specializd in acutely ill children. Hope Plaza is seekinb a silver certification from the in its Leadership in Energgy and EnvironmentalDesign (LEED) program. Father-son team Don and Justimn Hoech partnered with the church to develop the parcekl adjacent to La Cueva High School in the Far Northeast Heightsof Albuquerque.
The office buildingsz are being offered for sale as office condominiums or can be represents half ofthe $7.5 milliomn project, which was built by Enterprise Builders. High Deser Pediatrics is the lone tenant to date far inthe
Located at 8650 Alameda NE., the 4,100-square-foot medical office is the firstr tenant inthe two-buildint office plaza built by Hoech Real Estates Corp. The project includes two office buildings totaling morethan 42,009 square feet and a new church for Hope The new clinic’s operators did their residencies at the and specializd in acutely ill children. Hope Plaza is seekinb a silver certification from the in its Leadership in Energgy and EnvironmentalDesign (LEED) program. Father-son team Don and Justimn Hoech partnered with the church to develop the parcekl adjacent to La Cueva High School in the Far Northeast Heightsof Albuquerque.
The office buildingsz are being offered for sale as office condominiums or can be represents half ofthe $7.5 milliomn project, which was built by Enterprise Builders. High Deser Pediatrics is the lone tenant to date far inthe
Wednesday, September 12, 2012
New Vine Logistics responds to critics - San Francisco Business Times:
ogarawo.wordpress.com
The company, which two years ago seemedx poised to ship 20 percenttof California’s direct-to-consumer wine market, laid off much of its staff on Fridayt and brusquely told customers over the weekend that it was no longer receiving or processing orders. The move left many Wine Country providers scramblinf to gather information and to figure out how to get back inventort atNew Vine’s American Canyon warehouse so they couldd ship it to customersw another way. Published accounts said two ofthe company’z venture capital investors effectively pulledc the plug last week, by declining to invest additional capital in New Vine.
“Some peopls changed their minds at the last saidBarbara Insel, a wine industry analyst who served on New Vine’s advisory Kathleen Hoertkorn, New Vine founder and former CEO, and Chairman of the Board Homer Dunn issuee a statement Tuesday in respons “to media reports abouy the suspension of its business Hoertkorn and Dunn said New Vine is workinf with customers “to transfer all services to anothet means of legal direct shipping, and in the meantime, is finalizin all work, including compilint of reports, reconciling inventory and invoices, and performingg all of the necessary business operations for the montj of May and June.
” Hoertkorn in response to reports that the companu knew or must have known it was in financial that officials “truly believed that they would have been fundex and were not expecting to have to cease operations.” The wine industr heard rumblings about New Vine’ds implosion over the weekend and was greetesd Monday by published reports saying it had ceased most business The company’s voice mail on June 1 said “Nesw Vine is no longer receivin or shipping orders for shipment from our and noted that it had “limited staff” to handles a transition.
Hoertkorn sent an email to clients over the weekend indicatinbg that NewVine “has abruptly gone into a stat e of financial crisis and is currently working on the plan The company -- which as recently as March 2007 had 63 staffersa and planned to acquire a similar firm and nab up to 20 perceny of the direct-to-consumer wine shippint market in the Golden State -- had more than 200 customers and roughly 110 employees as of last Friday, sources say. It now has a skeletojn crew of about 30 stafferx at its Napa headquarters and American Canyonshipping facility, including a handfu l of executives who are workinv to wind down operations.
A host of question s remain aboutits situation, includinvg whether workers laid off on Friday received final paychecks, the role investorzs and played in the company’s recent how its partnership with (NASDAQ: AMZN) to help the online retaiol giant develop a wine salez site affected the and how customers will retrieve their inventoriesw and make other arrangements to ship their wines to Insel told the San Francisci Business Times that a review of the company’s operations by stats regulators delayed dealings with Amazon, and that Amazon “got very cautious” after a lengthy compliance review of New Vine by the Californiaa Department of Alcoholic Beverage Control.
New Vine was startee in 2001 on the notion that it coulr help expedite shipments to consumersd in various states with confusing and complicated legal restrictions onwine shipments, a lingering legacy of the Prohibition years in Charlotte Milan, apparently brought in as a company spokeswomam sometime Monday or early Tuesday, told the San Francisco Businesws Times that New Vine is working with its lawyerse “to handle this (paying laid-off and all issues. “All I can say is the employeexs are thetop priority, and New Vine is working on any employew related issues right now,” Milan In March 2007, Hoertkorn told the Businesz Times that New Vine would ship about 4.
2 millionh bottles that year for about 260 customers, and expected to ship wined worth about $200 million, the vast majority of them for California producers, along with small amounts for Oregon and Washingtonn state wineries. At the time, New Vine’s annuall revenue was about $10 officials said, and was expected to double in 2007. Customers at the time included , , , , and . Financial backersa include Menlo Park’s , and New Vine has approximatelgy200 customers, according to a report Monda on Wine Business.com, about half of them wineries and the othedr half marketing agents and others. It also had planz to partner with Amazon.
com to launch a wine buyingb andshipping site, which now appear to be Hoertkorn said Tuesday that the company will keep wineryy customers, employees and shareholders advised of its next adding “We deeply apologizre for the situation, and we pledge to work with our customeres to make as smooth and expedient shippinbg transition as possible.”
The company, which two years ago seemedx poised to ship 20 percenttof California’s direct-to-consumer wine market, laid off much of its staff on Fridayt and brusquely told customers over the weekend that it was no longer receiving or processing orders. The move left many Wine Country providers scramblinf to gather information and to figure out how to get back inventort atNew Vine’s American Canyon warehouse so they couldd ship it to customersw another way. Published accounts said two ofthe company’z venture capital investors effectively pulledc the plug last week, by declining to invest additional capital in New Vine.
“Some peopls changed their minds at the last saidBarbara Insel, a wine industry analyst who served on New Vine’s advisory Kathleen Hoertkorn, New Vine founder and former CEO, and Chairman of the Board Homer Dunn issuee a statement Tuesday in respons “to media reports abouy the suspension of its business Hoertkorn and Dunn said New Vine is workinf with customers “to transfer all services to anothet means of legal direct shipping, and in the meantime, is finalizin all work, including compilint of reports, reconciling inventory and invoices, and performingg all of the necessary business operations for the montj of May and June.
” Hoertkorn in response to reports that the companu knew or must have known it was in financial that officials “truly believed that they would have been fundex and were not expecting to have to cease operations.” The wine industr heard rumblings about New Vine’ds implosion over the weekend and was greetesd Monday by published reports saying it had ceased most business The company’s voice mail on June 1 said “Nesw Vine is no longer receivin or shipping orders for shipment from our and noted that it had “limited staff” to handles a transition.
Hoertkorn sent an email to clients over the weekend indicatinbg that NewVine “has abruptly gone into a stat e of financial crisis and is currently working on the plan The company -- which as recently as March 2007 had 63 staffersa and planned to acquire a similar firm and nab up to 20 perceny of the direct-to-consumer wine shippint market in the Golden State -- had more than 200 customers and roughly 110 employees as of last Friday, sources say. It now has a skeletojn crew of about 30 stafferx at its Napa headquarters and American Canyonshipping facility, including a handfu l of executives who are workinv to wind down operations.
A host of question s remain aboutits situation, includinvg whether workers laid off on Friday received final paychecks, the role investorzs and played in the company’s recent how its partnership with (NASDAQ: AMZN) to help the online retaiol giant develop a wine salez site affected the and how customers will retrieve their inventoriesw and make other arrangements to ship their wines to Insel told the San Francisci Business Times that a review of the company’s operations by stats regulators delayed dealings with Amazon, and that Amazon “got very cautious” after a lengthy compliance review of New Vine by the Californiaa Department of Alcoholic Beverage Control.
New Vine was startee in 2001 on the notion that it coulr help expedite shipments to consumersd in various states with confusing and complicated legal restrictions onwine shipments, a lingering legacy of the Prohibition years in Charlotte Milan, apparently brought in as a company spokeswomam sometime Monday or early Tuesday, told the San Francisco Businesws Times that New Vine is working with its lawyerse “to handle this (paying laid-off and all issues. “All I can say is the employeexs are thetop priority, and New Vine is working on any employew related issues right now,” Milan In March 2007, Hoertkorn told the Businesz Times that New Vine would ship about 4.
2 millionh bottles that year for about 260 customers, and expected to ship wined worth about $200 million, the vast majority of them for California producers, along with small amounts for Oregon and Washingtonn state wineries. At the time, New Vine’s annuall revenue was about $10 officials said, and was expected to double in 2007. Customers at the time included , , , , and . Financial backersa include Menlo Park’s , and New Vine has approximatelgy200 customers, according to a report Monda on Wine Business.com, about half of them wineries and the othedr half marketing agents and others. It also had planz to partner with Amazon.
com to launch a wine buyingb andshipping site, which now appear to be Hoertkorn said Tuesday that the company will keep wineryy customers, employees and shareholders advised of its next adding “We deeply apologizre for the situation, and we pledge to work with our customeres to make as smooth and expedient shippinbg transition as possible.”
Tuesday, September 11, 2012
EU warns Russia to play by WTO rules or face action - CNBC.com
iqukikofor.wordpress.com
Business Recorder | EU warns Russia to play by WTO rules or face action CNBC.com Trade Commissioner Karel De Gucht criticized Russia's ban on European live animal imports, plans to levy fees on imported vehicles, two anti-dumping cases and another trade defense case launched by Moscow against Europe in recent months. In the same ... EU Tra de Chief Warns Russia EU Will Protect Interests in WTO Europe threatens to take Russia to the WTO over restrictive practices |
Monday, September 10, 2012
2 to get pink slips over alleged DUIs - Philadelphia Inquirer
uraa-quartely.blogspot.com
2 to get pink slips over alleged DUIs Philadelphia Inquirer 2 to get pink slips over alleged DUIs. TWO CITY Council employees will receive termination letters Monday for allegedly driving drunk when they used city-owned vehicles without authorization Saturday, according to police and a Council spokeswoman ... |
Saturday, September 8, 2012
Alameda seeks move into old City sports bar site - San Francisco Business Times:
gault-rickettsias.blogspot.com
According to the , a business calledd the Alameda Brewhouse Annex has filede for a liquor license at424 S.W. Fourth Ave. An Alamedaq employee confirmed that brewery owner Matt Schumacher also owns the The site is the former home of The a sports bar that closed last The liquor commission canceledthe bar’s license on Jan. 6 after several “seriouws and persistent problems.” The ordetr came less than a week afte a homicide that apparently took place earlhyNew Year’s Day. The City surrendered its liquot license amonth later. The Alameda Brewhouse Annexz license request isstill pending, said Christiee Scott, a commission spokeswoman.
The ownerzs filed the liquor license request in The company DBO LLC purchasefd the building containing the proposed Annexz in 1999for $606,120. It has a currentt market valueof $1.25 million. Alameda’s primary brewpub is at 4765 N.E. Fremont St.
According to the , a business calledd the Alameda Brewhouse Annex has filede for a liquor license at424 S.W. Fourth Ave. An Alamedaq employee confirmed that brewery owner Matt Schumacher also owns the The site is the former home of The a sports bar that closed last The liquor commission canceledthe bar’s license on Jan. 6 after several “seriouws and persistent problems.” The ordetr came less than a week afte a homicide that apparently took place earlhyNew Year’s Day. The City surrendered its liquot license amonth later. The Alameda Brewhouse Annexz license request isstill pending, said Christiee Scott, a commission spokeswoman.
The ownerzs filed the liquor license request in The company DBO LLC purchasefd the building containing the proposed Annexz in 1999for $606,120. It has a currentt market valueof $1.25 million. Alameda’s primary brewpub is at 4765 N.E. Fremont St.
Friday, September 7, 2012
Al Ressler Executive Profile
ogarawo.wordpress.com
**All Executive profile data provided byDow Jones & Co., Inc.
**All Executive profile data provided byDow Jones & Co., Inc.
Wednesday, September 5, 2012
Japanese visitors still spooked by flu - Charlotte Business Journal:
vuwodu.wordpress.com
According to preliminary counts, a total of 8,8700 passengers arrived June 1-4 on flights to Hawaii from That’s a 32 percent drop from the same period in about 1,000 fewer visitors per day. The Japaneswe visitor falloff begin the seconf week in May and was directly attributef toswine flu, also called H1N1 influenza A. Even thouguh Japan has reported, as of Wednesday, 385 swinee flu cases of its own, rankinv it among the top six countries affected by the many Japanese companies have bannerd employees fromoverseas travel.
The swine flu outbreakm is also affecting travel from other Asian countriexs to North Americaand Europe, according to Hawaii Tourism The South Korean travel industry reports 15-30 percentr cancellation rates in trips to U.S. destinations sincs the end of April. Cancellations to Hawaii are under 10 The Chinesetravel industry, said cancellations in outbound travelk are increasing, with fewer new-booked packages to the U.S.
According to preliminary counts, a total of 8,8700 passengers arrived June 1-4 on flights to Hawaii from That’s a 32 percent drop from the same period in about 1,000 fewer visitors per day. The Japaneswe visitor falloff begin the seconf week in May and was directly attributef toswine flu, also called H1N1 influenza A. Even thouguh Japan has reported, as of Wednesday, 385 swinee flu cases of its own, rankinv it among the top six countries affected by the many Japanese companies have bannerd employees fromoverseas travel.
The swine flu outbreakm is also affecting travel from other Asian countriexs to North Americaand Europe, according to Hawaii Tourism The South Korean travel industry reports 15-30 percentr cancellation rates in trips to U.S. destinations sincs the end of April. Cancellations to Hawaii are under 10 The Chinesetravel industry, said cancellations in outbound travelk are increasing, with fewer new-booked packages to the U.S.
Tuesday, September 4, 2012
Small business bridge loans likely to go quickly - Triangle Business Journal:
esivyjifag.wordpress.com
The SBA will begin acceptin applications from lenders for itsnew America’s Recovery Capitao loans June 15. The which were created by the economic stimulus legislation, will help smalkl businesses make payments on existing loans. Through this small businesses can borrow upto $35,000 to make up to six months of payments on qualifyint loans, including credit cards if that debt was used for businesds purposes. The loans will be made throughg private-sector lenders, not the SBA itself.
Borrowers won’t have to starty repaying the ARC loans until a year aftef they receive their last ARC loan They then will pay back the principal on the ARC loan in five Smallbusinesses won’t have to pay interesf on the loans. Instead, the SBA will pay the lende a monthly interest rate of prime plus 2percentager points. The SBA also will guarantee 100 percenrt ofthe loan’s amount. To be eligible for the loans, smalll businesses must show they were profitable or had positivee cash flow in at least one of the past two Future cash flow projections must demonstrate that the businesses will be able to repay their debts, including the ARC loan.
Borrowerx can’t be more than 60 days past due on any loan being paid through anARC loan, and they must have a businesse credit score that is acceptable to the SBA. ARC loanw can’t be used to make payments on an SBA loan made prior to Feb. 17, 2009, the date the economic stimulusx billbecame law. To be small businesses also must showthat they’re experiencingg an immediate financial hardship, such as decliningg sales or difficulty making payroll.
The SBA hopes small businesses will use the ARC loansas “breathing room to reworkk their business strategy in order to position themselves for futurw success,” said Eric Zarnikow, who heads the agency’s Office of Capitall Access. Most of the loans probablyu will be made through lenders that alreadt have a business relationship with the Zarnikow said. Small businesses that are interested in an ARC loan shouldf first contact theircurrent lender, according to the SBA. Lenders that currently don’t make SBA-guaranteed loans can join the in a process that takes abouta week, he said. The agency has enoughh funding for the ARC program to makeabout 10,000 loans.
Zarnikow expects high demansd forthese loans, but said it may take some time for some lendere to ramp up for this new program. The loans will be availables until the money for the program runs out oruntilp Sept. 30, 2010, whichever comex first. Zarnikow expects the loanxs “will go pretty quickly.” Tony Wilkinson, presidenty and CEO of the National Associationn of GovernmentGuaranteed Lenders, agreed the “funding will be exhaustede rather quickly.
” For lenders who have customeres who were profitable in 2007, took a hit in 2008 and couldd survive this year with a little “this is the product,” Wilkinson The chair of the House committee that overseexs the Small Business Administration criticized the agency’e new loan program for automobile dealers. The SBA recentlyh announced that it temporarilyy will allow auto dealers to useits 7(a) businesas loan program to finance vehicle inventory. Many lenderse had stopped makingthess so-called “floorplan” loans to auto Rep. Nydia Velazquez, D-N.Y.
, who chairs the Housde Small Business Committee, fearsw “there is a significantly higher risk of loan on thesefloorplan loans. This could forcse the SBA to increase the subsidy ratefor 7(a) which would make the loans costlier for future borrowers. In a June 2 letter to SBA AdministratodrKaren Mills, Velazquez noted the SBA had “long prohibitee the use of its financing programs for the purpose of wholesalr lending, and for good reason. Because lender s are limited in their ability to exercise full controo over thefinanced items, the exposure to loss in floorplamn loans is greater than in other types of financing.
” Vehicleas serve as collateral for floorplab loans, and the value of this collateral “willk depreciate rapidly” given the glut of inventoryg facing auto makers in the wake of the bankruptcy reorganizations of Chrysler and General Motors, Velazquez wrote. “Whils clearly there is a need to provide this industruy withtransitional assistance, doing so by focusin on inherently risky financial arrangements seems questionable,” she “The potentially negative impacts of this policy changd are likely to extend well beyond the auto But Tony Wilkinson, president and CEO of the Nationa l Association of Government Guaranteed Lenders, said the floorplab loans shouldn’t be any riskier than other typeds of 7(a) loans if lenders administer the loanss responsibly.
“I think it’zs appropriate for the SBA to look at everything they can do for all smalp businessesright now, given smalpl businesses’ inability to access credit,” Wilkinson said. Velazquez also contendedd the time the agency spent on developingv a complex new loan program should have been spentt on implementing overdue programs called for in the economixcstimulus bill. The floorplan loans will help onlya “very limitex group” of small she noted. Had the SBA insteade focused more on thestimulus programs, “thousands of small businesses that can no longer wait for help woulf have seen assistance,” Velazquez wrote.
The SBA will begin acceptin applications from lenders for itsnew America’s Recovery Capitao loans June 15. The which were created by the economic stimulus legislation, will help smalkl businesses make payments on existing loans. Through this small businesses can borrow upto $35,000 to make up to six months of payments on qualifyint loans, including credit cards if that debt was used for businesds purposes. The loans will be made throughg private-sector lenders, not the SBA itself.
Borrowers won’t have to starty repaying the ARC loans until a year aftef they receive their last ARC loan They then will pay back the principal on the ARC loan in five Smallbusinesses won’t have to pay interesf on the loans. Instead, the SBA will pay the lende a monthly interest rate of prime plus 2percentager points. The SBA also will guarantee 100 percenrt ofthe loan’s amount. To be eligible for the loans, smalll businesses must show they were profitable or had positivee cash flow in at least one of the past two Future cash flow projections must demonstrate that the businesses will be able to repay their debts, including the ARC loan.
Borrowerx can’t be more than 60 days past due on any loan being paid through anARC loan, and they must have a businesse credit score that is acceptable to the SBA. ARC loanw can’t be used to make payments on an SBA loan made prior to Feb. 17, 2009, the date the economic stimulusx billbecame law. To be small businesses also must showthat they’re experiencingg an immediate financial hardship, such as decliningg sales or difficulty making payroll.
The SBA hopes small businesses will use the ARC loansas “breathing room to reworkk their business strategy in order to position themselves for futurw success,” said Eric Zarnikow, who heads the agency’s Office of Capitall Access. Most of the loans probablyu will be made through lenders that alreadt have a business relationship with the Zarnikow said. Small businesses that are interested in an ARC loan shouldf first contact theircurrent lender, according to the SBA. Lenders that currently don’t make SBA-guaranteed loans can join the in a process that takes abouta week, he said. The agency has enoughh funding for the ARC program to makeabout 10,000 loans.
Zarnikow expects high demansd forthese loans, but said it may take some time for some lendere to ramp up for this new program. The loans will be availables until the money for the program runs out oruntilp Sept. 30, 2010, whichever comex first. Zarnikow expects the loanxs “will go pretty quickly.” Tony Wilkinson, presidenty and CEO of the National Associationn of GovernmentGuaranteed Lenders, agreed the “funding will be exhaustede rather quickly.
” For lenders who have customeres who were profitable in 2007, took a hit in 2008 and couldd survive this year with a little “this is the product,” Wilkinson The chair of the House committee that overseexs the Small Business Administration criticized the agency’e new loan program for automobile dealers. The SBA recentlyh announced that it temporarilyy will allow auto dealers to useits 7(a) businesas loan program to finance vehicle inventory. Many lenderse had stopped makingthess so-called “floorplan” loans to auto Rep. Nydia Velazquez, D-N.Y.
, who chairs the Housde Small Business Committee, fearsw “there is a significantly higher risk of loan on thesefloorplan loans. This could forcse the SBA to increase the subsidy ratefor 7(a) which would make the loans costlier for future borrowers. In a June 2 letter to SBA AdministratodrKaren Mills, Velazquez noted the SBA had “long prohibitee the use of its financing programs for the purpose of wholesalr lending, and for good reason. Because lender s are limited in their ability to exercise full controo over thefinanced items, the exposure to loss in floorplamn loans is greater than in other types of financing.
” Vehicleas serve as collateral for floorplab loans, and the value of this collateral “willk depreciate rapidly” given the glut of inventoryg facing auto makers in the wake of the bankruptcy reorganizations of Chrysler and General Motors, Velazquez wrote. “Whils clearly there is a need to provide this industruy withtransitional assistance, doing so by focusin on inherently risky financial arrangements seems questionable,” she “The potentially negative impacts of this policy changd are likely to extend well beyond the auto But Tony Wilkinson, president and CEO of the Nationa l Association of Government Guaranteed Lenders, said the floorplab loans shouldn’t be any riskier than other typeds of 7(a) loans if lenders administer the loanss responsibly.
“I think it’zs appropriate for the SBA to look at everything they can do for all smalp businessesright now, given smalpl businesses’ inability to access credit,” Wilkinson said. Velazquez also contendedd the time the agency spent on developingv a complex new loan program should have been spentt on implementing overdue programs called for in the economixcstimulus bill. The floorplan loans will help onlya “very limitex group” of small she noted. Had the SBA insteade focused more on thestimulus programs, “thousands of small businesses that can no longer wait for help woulf have seen assistance,” Velazquez wrote.
Monday, September 3, 2012
Gehl secures new 2-year credit pact - The Business Journal of the Greater Triad Area:
pemp66seb.blogspot.com
The agreement with U.S. bank lenders provides for a total credigt commitmentof $105 millionb and a term of 24 months. The credit line consists of an $80 millio n revolving line based on North Americabn inventories and accounts receivable and a term loanof $25 million payable in quarterly installments. The credit pact replacese the company's October 2006 $125 million unsecuref credit facility. As part of the amended credit agreement, Gehl Co. has granted to its bank lendere a security interest in all of its NorthAmericaj assets.
The amended credit agreemeng addresses matters that gave rise to an April 16 forbearancw agreement with the lended group that rescinds and withdraws a notice of debt repayment deliverex onMarch 31. That agreement with lenders extendeed the repaymentof $117 million in debt under a revolving credift agreement, which serves as the company'es principal source of liquidity. Gehl said it has significantlyu reduced its outstanding borrowings using operating cash flows creater in part by the cost savingsa initiatives implemented over thepast
The agreement with U.S. bank lenders provides for a total credigt commitmentof $105 millionb and a term of 24 months. The credit line consists of an $80 millio n revolving line based on North Americabn inventories and accounts receivable and a term loanof $25 million payable in quarterly installments. The credit pact replacese the company's October 2006 $125 million unsecuref credit facility. As part of the amended credit agreement, Gehl Co. has granted to its bank lendere a security interest in all of its NorthAmericaj assets.
The amended credit agreemeng addresses matters that gave rise to an April 16 forbearancw agreement with the lended group that rescinds and withdraws a notice of debt repayment deliverex onMarch 31. That agreement with lenders extendeed the repaymentof $117 million in debt under a revolving credift agreement, which serves as the company'es principal source of liquidity. Gehl said it has significantlyu reduced its outstanding borrowings using operating cash flows creater in part by the cost savingsa initiatives implemented over thepast
Saturday, September 1, 2012
Antonio Villaraigosa: Latino 'window dressing' at DNC? - VOXXI
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Antonio Villaraigosa: Latino 'window dressing' at DNC? VOXXI Among the Merriam-Webster dictionary definitions for the word token is this: “Member of a group (as a minority) that is included within a larger group through tokenism; especially : a token employee.†I wanted to look it up to see if the definition had ... |
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