savimy.blogspot.com
However, more than 60 credit unione will continue takingthe state’ds IOUs, according to a list posted on the ’z web site. But some of the Bay Area’d largest credit unions are not on the Bay Area credit unions on the asof Friday, include Kaiperm Diablo Federal Credit Union in Walnut Creek, Uncle Credit Unionb in Livermore, San Francisco Federal Credig Union, San Francisco Fire Credit Union, and San Mateo Creditt Union in Redwood City and Stanford Federal Credit Union in Palo SRI Federal Credit Union in Menlo Park. Holderz of California’s IOUs will have to contact the credity unions directly to see whether they qualify for membership.
Some expect check-cashersx to accept the state’s IOUs — and charged hefty fees for the service. The Securities and Exchangde Commissiondeclared California’s IOUs to be a limiting who can buy and sell them in an effortt to prevent investors from beinyg defrauded. The move is also likelyu to limit the markeft forthe state’s IOUs. In decidingb not to extend its July 10 deadline for acceptingCalifornia IOUs, said, “The State of Californiwa – just like any householdf or business – must be responsible for livinvg within its means. Bank s are not and cannot be the solutioto California’s budget problems.
“We were reluctanrt to accept the warrants in thefirs place, and can’t accept them indefinitely. Wells Fargo accepte d the registered warrants to help our customerse who are not at fault and expecting that the Legislatured and governor would complete the budget within WellsFargo said. “We’re tryinb to strike a balance between the gravity of the situation and the needs ofour customers,” the bank Bankers say they’ll try to help their customer s using credit lines and othef products and services. , the largest bank operating in California, said that accepting the state’s IOUs represents operational andfinancialk challenges.
The bank also cited its previou s experience in taking the notes the last time the statd issued themin 1992. “The longer the registerex warrantswere accepted, the longer it took the Legislature to resolved the matter,” BofA said. “We do not want our acceptancr of registered warrants to deter the state from reachinyg a budget agreement as soonas possible.”
Friday, November 30, 2012
Thursday, November 29, 2012
Staycations could boost state's tourism industry - Nashville Business Journal:
sucujovide.wordpress.com
Last year at this gas prices rose to morethan $4 per putting the brakes on traditional summer road Now gas is back around $2 a but a deep recession lingers after putting hundredsz of thousands of Americans out of work and causiny millions more to rein in theif spending. “Gas prices are not as much of a concerhn right now as theoverall economy, consumer confidencee and people’s concerns about their jobs and said John Edman, who has been executivd director of for the past nine years. this will be a particularly challenginbg year forMinnesota operators, though there is hope that Minnesotans who travel will do so closer to home.
At Madden’s on Gull Lake in owner and GeneralManager C. Brian Thuringer said this has beenthe “mosg serious” of the four or five recessionse he has seen during his 36 years at the “This is the first time that the bottonm has really fallen out,” Thuringer said. “Before, therr was always that feeling that there was a slumpp andthings weren’t but tomorrow was going to be This is the first time when people don’t reallyu know when tomorrow is.” A recent surveuy conducted by Explore Minnesota found that 57 percent of the state’es lodging businesses saw revenue and occupancy decline in Apriol and May as compared to a year ago.
51 percent of Minnesota hotel and campgrouncd operators said they expect businesd to remain flat or increase this summet compared to last About 60 percent of survey respondentss described the financial health of their businessesas “growing” or but positive.” There are some concerns about declining rates, but overall, Edman expects this to be a relativelu strong summer for the state’s $11 billion-a-year touris m industry. The state typically generatezs about 37 percent ofits travel-related revenuwe during the months of June, July and and he thinks those peak months will be busy again this “People are still going to want to travel,” Edman said.
“They’re just going to travelk differently than they did in the People still need to get away for stress relief andhealtb reasons.” The biggest difference this year, Edmajn predicts, will be where people decide to go. He expectws that most people will stay closere to home andbook shorter, less-expensive trips withibn driving distance of where they live. That’s why Explores Minnesota is changing itsmarketinvg approach.
Typically, it spends about 80 percent of its marketing budge to promote the stateto nonresidents, with the remaininvg 20 percent aimed at locals; this that split is closer to “We don’t have oceans and we don’gt have mountains, but we do have a lot of things that are Edman said. “Whether it’s fishin or hiking or biking, those are relatively low-cosrt activities that you can do You don’t have to go far.
” That coulxd bode well for Minnesotza resorts, as Twin Citiesd residents book trips to Duluthn or Brainerd, instead of venturing on week-long, cross-country said Dave Siegel, president and CEO of Hospitality Minnesota, whicg oversees the state’s restaurant, and resort and campground associations. “uI think it’s going to be a good summer,” he “… I’m not projecting an but I expect [resorts] to hold thei own.” Camping and fishing also could see a boost in popularityhthis year, Siegel said.
Meanwhile, officials at Minneapolis’ conventionh and visitors bureau, Meet remains “cautiously optimistic” about business this summer, said President and CEO Melvib Tennant. “A lot of our hospitality-industry executives believe we’ve either hit bottom or are closed tohitting bottom, and that from this pointr on, we’re going to be able to see some very modest growth. … I think this summer couldc be very goodfor us.
” Meet Minneapolizs advertised its “Downtown Sizzle” campaign, which includez discount packages at 12 participating hotels through September, with 450,00o0 promotional inserts in newspapers in the Twin Duluth; Des Moines, Iowa; Fargo, Madison, Wis.; Milwaukee; and Winnipeg, Getting a true read on the summer hospitalityy business is difficult, however, because people are waiting longer to book theid trips. So even the northern Minnesota resorts that anticipate a busy summer still have numerous openings duringpeak “It’s a much more last-minute vacation-plannintg experience,” Siegel said. “I thinjk that’s understandable.
If people are nervous about theitr jobs or theireconomic futures, they’re waitinbg until they have a greatefr degree of security before they make that reservation.”
Last year at this gas prices rose to morethan $4 per putting the brakes on traditional summer road Now gas is back around $2 a but a deep recession lingers after putting hundredsz of thousands of Americans out of work and causiny millions more to rein in theif spending. “Gas prices are not as much of a concerhn right now as theoverall economy, consumer confidencee and people’s concerns about their jobs and said John Edman, who has been executivd director of for the past nine years. this will be a particularly challenginbg year forMinnesota operators, though there is hope that Minnesotans who travel will do so closer to home.
At Madden’s on Gull Lake in owner and GeneralManager C. Brian Thuringer said this has beenthe “mosg serious” of the four or five recessionse he has seen during his 36 years at the “This is the first time that the bottonm has really fallen out,” Thuringer said. “Before, therr was always that feeling that there was a slumpp andthings weren’t but tomorrow was going to be This is the first time when people don’t reallyu know when tomorrow is.” A recent surveuy conducted by Explore Minnesota found that 57 percent of the state’es lodging businesses saw revenue and occupancy decline in Apriol and May as compared to a year ago.
51 percent of Minnesota hotel and campgrouncd operators said they expect businesd to remain flat or increase this summet compared to last About 60 percent of survey respondentss described the financial health of their businessesas “growing” or but positive.” There are some concerns about declining rates, but overall, Edman expects this to be a relativelu strong summer for the state’s $11 billion-a-year touris m industry. The state typically generatezs about 37 percent ofits travel-related revenuwe during the months of June, July and and he thinks those peak months will be busy again this “People are still going to want to travel,” Edman said.
“They’re just going to travelk differently than they did in the People still need to get away for stress relief andhealtb reasons.” The biggest difference this year, Edmajn predicts, will be where people decide to go. He expectws that most people will stay closere to home andbook shorter, less-expensive trips withibn driving distance of where they live. That’s why Explores Minnesota is changing itsmarketinvg approach.
Typically, it spends about 80 percent of its marketing budge to promote the stateto nonresidents, with the remaininvg 20 percent aimed at locals; this that split is closer to “We don’t have oceans and we don’gt have mountains, but we do have a lot of things that are Edman said. “Whether it’s fishin or hiking or biking, those are relatively low-cosrt activities that you can do You don’t have to go far.
” That coulxd bode well for Minnesotza resorts, as Twin Citiesd residents book trips to Duluthn or Brainerd, instead of venturing on week-long, cross-country said Dave Siegel, president and CEO of Hospitality Minnesota, whicg oversees the state’s restaurant, and resort and campground associations. “uI think it’s going to be a good summer,” he “… I’m not projecting an but I expect [resorts] to hold thei own.” Camping and fishing also could see a boost in popularityhthis year, Siegel said.
Meanwhile, officials at Minneapolis’ conventionh and visitors bureau, Meet remains “cautiously optimistic” about business this summer, said President and CEO Melvib Tennant. “A lot of our hospitality-industry executives believe we’ve either hit bottom or are closed tohitting bottom, and that from this pointr on, we’re going to be able to see some very modest growth. … I think this summer couldc be very goodfor us.
” Meet Minneapolizs advertised its “Downtown Sizzle” campaign, which includez discount packages at 12 participating hotels through September, with 450,00o0 promotional inserts in newspapers in the Twin Duluth; Des Moines, Iowa; Fargo, Madison, Wis.; Milwaukee; and Winnipeg, Getting a true read on the summer hospitalityy business is difficult, however, because people are waiting longer to book theid trips. So even the northern Minnesota resorts that anticipate a busy summer still have numerous openings duringpeak “It’s a much more last-minute vacation-plannintg experience,” Siegel said. “I thinjk that’s understandable.
If people are nervous about theitr jobs or theireconomic futures, they’re waitinbg until they have a greatefr degree of security before they make that reservation.”
Tuesday, November 27, 2012
Dean Foods to relocate corporate office - South Florida Business Journal:
bertayfybuqutyp.blogspot.com
Dallas-based Dean (NYSE: DF) will relocate from its current locatioj at 2515McKinney Ave. into 240,000p square feet of space inside Cityplace. The move is expectede to take place in the first quarterof 2010. "Wew are pleased to be able to relocate our office s within Dallascity limits. Many factord worked in our favor, includingf the real estate market, spacs availability and other economic elements," said Gregg Engles, chairman of the board and chief executive officee ofDean Foods. "The City of Dallas is our home, and we are pleased to remain here and continue our many civivc andcommunity partnerships.
" Dean said in a statement it is moving because the company has outgrown its current workspace, and new space is needer to address the company’s changingv needs. The lease will take occupancy at Cityplace to aboutg 80 percent from abourt 60percent now, said Sarah Payne, vice presiden at Stream Realty Partners, which handlesx leasing in the building. Employees will begin movinbg in December and the move will be phasedf inthrough March, Payne said.
"This was a huge win for the City of Dallasa to keep them inthe city, becausre they looked all over," Payne She said Dean Foods considered existingg space and build-to-suits in the Legacy/Frisco area, as well as othe r buildings downtown. Brokers familiar with the searc h said Dean Foods considered Fountain Place and Bank of America Plaza among other downtow n buildings with significant squarefootage available. The asking leasse rate for space in Cityplaceis $24 per square plus electricity. Dean Foods will occupyg floors 34 through 40 inthe 42-floor, 1.2-million-square-foot building. Dean Foods occupies about 150,000 square feet at its currentg location.
Dallas-based Dean (NYSE: DF) will relocate from its current locatioj at 2515McKinney Ave. into 240,000p square feet of space inside Cityplace. The move is expectede to take place in the first quarterof 2010. "Wew are pleased to be able to relocate our office s within Dallascity limits. Many factord worked in our favor, includingf the real estate market, spacs availability and other economic elements," said Gregg Engles, chairman of the board and chief executive officee ofDean Foods. "The City of Dallas is our home, and we are pleased to remain here and continue our many civivc andcommunity partnerships.
" Dean said in a statement it is moving because the company has outgrown its current workspace, and new space is needer to address the company’s changingv needs. The lease will take occupancy at Cityplace to aboutg 80 percent from abourt 60percent now, said Sarah Payne, vice presiden at Stream Realty Partners, which handlesx leasing in the building. Employees will begin movinbg in December and the move will be phasedf inthrough March, Payne said.
"This was a huge win for the City of Dallasa to keep them inthe city, becausre they looked all over," Payne She said Dean Foods considered existingg space and build-to-suits in the Legacy/Frisco area, as well as othe r buildings downtown. Brokers familiar with the searc h said Dean Foods considered Fountain Place and Bank of America Plaza among other downtow n buildings with significant squarefootage available. The asking leasse rate for space in Cityplaceis $24 per square plus electricity. Dean Foods will occupyg floors 34 through 40 inthe 42-floor, 1.2-million-square-foot building. Dean Foods occupies about 150,000 square feet at its currentg location.
Monday, November 26, 2012
Calif. firm wants to buy Austin buildings - Austin Business Journal:
sucujovide.wordpress.com
Asset Management Consultants Inc. plans to expandr its portfolio by acquiring morethan $150 million in commercial real estate investments in 2009, and its executives say the company will acquire about $30 million to $50 million worth of property in Austin as part of that expansion. Jim president and CEO of the Missioh Hills-based company, said it owns five properties in Austin and San with a sixth under contract in SanAntonio that’ss expected to close soon. The company wants to keep Austin in its scopr as it looks to expand its investment acquisitions becauses of thelocal economy’s strength.
“We like the demographics and the factthat there’d positive job growth, and the values of the home are not going down as rapidly as they in California, Hopper “We like [Austin and San Antonio] for theirt stability better than Houston or Dallas, whichn tend to have more dramati c highs and lows.” In Austin, AMC is targetinv all property types except retail and land, he Its current Austin properties include a 50,000-square-foot multitenant office property on Research a 28,000-square-foot medical office building on North MoPac Expressway and a 130,000-square-foott food manufacturing building in North AMC is also looking for investmeny opportunities in Los Angeles, San Diegko and San Antonio.
The company owns and managesz about 3 million square feet of investment real estate The company has hired Ryan Smityh as director of capitap markets andKen O’Brien as directoe of investor relations to help expan the firm’s growing Texas portfolio. AMC has a fair number of midsizes multitenant properties in its saidDavid Blackbird, a co-managing partner with . Stream Realty has representedf AMC in some of its Austin property managementand leasing.
Targeting multitenant propertielimits AMC’s exposure and risk, Blackbird “I think it’s significant given everybody’s worrty in the market, and it says a lot that AMC is cominyg in and closing on these assetxs and are confident in our marketplace,” Blackbircd said of AMC’s plans to acquire more investmenyt properties in Austin. “I think from an outsider’zs perspective, Texas is a relativelyy safe place to invest givenh the state of thenational economy.
” Rhondwa Toming, a senior vice president with , said givenm the size and relative stability of Austin’s market, it’s not unusuakl to see an out-of-state investor want to acquire investmentt property in the dollar range AMC has “It’s been a consistent trenfd over the last three to five years,” she although she added that even in Austin transactionh activity is down.
Asset Management Consultants Inc. plans to expandr its portfolio by acquiring morethan $150 million in commercial real estate investments in 2009, and its executives say the company will acquire about $30 million to $50 million worth of property in Austin as part of that expansion. Jim president and CEO of the Missioh Hills-based company, said it owns five properties in Austin and San with a sixth under contract in SanAntonio that’ss expected to close soon. The company wants to keep Austin in its scopr as it looks to expand its investment acquisitions becauses of thelocal economy’s strength.
“We like the demographics and the factthat there’d positive job growth, and the values of the home are not going down as rapidly as they in California, Hopper “We like [Austin and San Antonio] for theirt stability better than Houston or Dallas, whichn tend to have more dramati c highs and lows.” In Austin, AMC is targetinv all property types except retail and land, he Its current Austin properties include a 50,000-square-foot multitenant office property on Research a 28,000-square-foot medical office building on North MoPac Expressway and a 130,000-square-foott food manufacturing building in North AMC is also looking for investmeny opportunities in Los Angeles, San Diegko and San Antonio.
The company owns and managesz about 3 million square feet of investment real estate The company has hired Ryan Smityh as director of capitap markets andKen O’Brien as directoe of investor relations to help expan the firm’s growing Texas portfolio. AMC has a fair number of midsizes multitenant properties in its saidDavid Blackbird, a co-managing partner with . Stream Realty has representedf AMC in some of its Austin property managementand leasing.
Targeting multitenant propertielimits AMC’s exposure and risk, Blackbird “I think it’s significant given everybody’s worrty in the market, and it says a lot that AMC is cominyg in and closing on these assetxs and are confident in our marketplace,” Blackbircd said of AMC’s plans to acquire more investmenyt properties in Austin. “I think from an outsider’zs perspective, Texas is a relativelyy safe place to invest givenh the state of thenational economy.
” Rhondwa Toming, a senior vice president with , said givenm the size and relative stability of Austin’s market, it’s not unusuakl to see an out-of-state investor want to acquire investmentt property in the dollar range AMC has “It’s been a consistent trenfd over the last three to five years,” she although she added that even in Austin transactionh activity is down.
Friday, November 23, 2012
Stafford Motor Vehicle Crash Remains Under Investigation - Toms River News
ogarawo.wordpress.com
Stafford Motor Vehicle Crash Remains Under Investigation Toms River News Mr. Dalton sustained severe trauma and was subsequently flown to AC Medical Trauma Center. The incident is still under investigation by Stafford Twp. Police Dept. Anyone with any information is asked to kindly contact Stafford Twp. Police Dept. at 609 ... |
Thursday, November 22, 2012
City University of Seattle to offer
shelly-polymer.blogspot.com
The Seattle school said it’s offering the program due to “thde substantial rise in the number of corporate sociaol responsibility jobs being created aroundthe globe.” Students in the MBA program will take the same core classes that otherf MBA students at the school take, and then take coursesx in “social and environmental marketing in a new economy, environmental accounting and sustainabilituy and business opportunity.” Students in the MBA program can also take core classee at City University’s internationalp locations in Europe, Asia and North America.
“CityU’ MBA in sustainable business is unique inthat (it) offersw a true sense of global corporate sociap responsibility by allowing (a) student in different countriex during the program,” said Kevib Wilhelm, a member of the school’s advisory committee that helped develolp the program.
The Seattle school said it’s offering the program due to “thde substantial rise in the number of corporate sociaol responsibility jobs being created aroundthe globe.” Students in the MBA program will take the same core classes that otherf MBA students at the school take, and then take coursesx in “social and environmental marketing in a new economy, environmental accounting and sustainabilituy and business opportunity.” Students in the MBA program can also take core classee at City University’s internationalp locations in Europe, Asia and North America.
“CityU’ MBA in sustainable business is unique inthat (it) offersw a true sense of global corporate sociap responsibility by allowing (a) student in different countriex during the program,” said Kevib Wilhelm, a member of the school’s advisory committee that helped develolp the program.
Tuesday, November 20, 2012
Moyes wants more info from Reinsdorf, NHL on Coyotes bid - Phoenix Business Journal:
proklofuxaanygez.blogspot.com
Attorneys for Moyes are askingthe U.S. Bankruptcy Courr in Phoenix to require more information from his business partners and the regarding his bid to buy the The Reinsdorf ownership team includes Phoenix attorneyu John Kaites and sportsz executiveTony Tavares. It has the backing of the NHL, whicjh opposes a Moyes-backed bid to sell the Coyotes to Canadiabn billionaireJim Balsillie. Balsillie, CEO of BlackBerry makedr Researchin Motion, has made a $213 millio n cash offer for the Coyotes and would move them to Hamilton, Ontario. Moyes would get $100 milliobn out of the Balsillie deal.
The Reinsdort bid does not list how much Reinsdorf might get from his It focuses largely on refinancinb and reworking thehockey team’a debts. Reinsdorf owns the Chicago Bulls and ChicagooWhite Sox, and it appearzs his bid involves little or no cash. Moyes wants U.S. Bankruptcy Court Judge Redfield Baum to have the NHL and the Reinsdorr ownership group disclose more information abouttheir bid, including financinv and dealing with unsecured debtw -- including money owed to who says he has put $300 million into the The Moyes camp also is pointing out that the NHL said there have been several bids to keep the team in but only the one led by Reinsdorf was presentedr to Baum.
Moyes put the Coyotes into Chapter 11 bankruptcy in May, and part of the team’d reorganization was to involve a sale to Balsillie. The NHL and city of Glendalr started talking to Reinsdorf about buying the team befors the Chapter11
Attorneys for Moyes are askingthe U.S. Bankruptcy Courr in Phoenix to require more information from his business partners and the regarding his bid to buy the The Reinsdorf ownership team includes Phoenix attorneyu John Kaites and sportsz executiveTony Tavares. It has the backing of the NHL, whicjh opposes a Moyes-backed bid to sell the Coyotes to Canadiabn billionaireJim Balsillie. Balsillie, CEO of BlackBerry makedr Researchin Motion, has made a $213 millio n cash offer for the Coyotes and would move them to Hamilton, Ontario. Moyes would get $100 milliobn out of the Balsillie deal.
The Reinsdort bid does not list how much Reinsdorf might get from his It focuses largely on refinancinb and reworking thehockey team’a debts. Reinsdorf owns the Chicago Bulls and ChicagooWhite Sox, and it appearzs his bid involves little or no cash. Moyes wants U.S. Bankruptcy Court Judge Redfield Baum to have the NHL and the Reinsdorr ownership group disclose more information abouttheir bid, including financinv and dealing with unsecured debtw -- including money owed to who says he has put $300 million into the The Moyes camp also is pointing out that the NHL said there have been several bids to keep the team in but only the one led by Reinsdorf was presentedr to Baum.
Moyes put the Coyotes into Chapter 11 bankruptcy in May, and part of the team’d reorganization was to involve a sale to Balsillie. The NHL and city of Glendalr started talking to Reinsdorf about buying the team befors the Chapter11
Monday, November 19, 2012
Treasury limits bonuses at TARP recipients - St. Louis Business Journal:
cicugaha.wordpress.com
The new rules encourage these companies to award executivez stock that must be held for a long periodx of timeand can’t be entirely converted to cash untilp the TARP money is repaid to the This, the department contends, will aligbn “executives’ incentives with those of shareholderw and taxpayers.” Kenneth Feinberg, a mediator who led the Septembedr 11th Victim Compensation will review payments and compensation plans at companiese that have received “exceptional assistance,” includingy AIG, Citigroup, Bank of America, Chrysler, General Motors, GMAC and Chrysler Financial.
TARP recipients also must allow shareholdersz to vote on executivecompensation packages. They also must disclose any perks wort h morethan $25,000 made to highluy compensated employees and justify the benefit. The rulew prohibit companies fromprovidiny “gross-up” payments to senior executives to cover taxes due on Treasury Secretary Tim Geithner said the Obama administrationh also supports legislation that woulde require all public companies to give shareholders a non-bindin g vote on executive compensation Congress also should give the Securities and Exchangd Commission the power to make compensationm committees more independent, similar to standards in place for audirt committees established by the Sarbanes-Oxley Act.
Geithner blamed executives compensation practices asa “contributing factor” for the financial “Incentives for short-term gains overwhelmed the checkse and balances meant to mitigate against the risk of excessx leverage,” he said. But, he added, “Wd are not capping pay. We are not settint forth precise prescriptions for how companies should set which can oftenbe counterproductive. we will continue to work to develop standards that reward innovation andprudenty risk-taking, without creating misaligned incentives.
”
The new rules encourage these companies to award executivez stock that must be held for a long periodx of timeand can’t be entirely converted to cash untilp the TARP money is repaid to the This, the department contends, will aligbn “executives’ incentives with those of shareholderw and taxpayers.” Kenneth Feinberg, a mediator who led the Septembedr 11th Victim Compensation will review payments and compensation plans at companiese that have received “exceptional assistance,” includingy AIG, Citigroup, Bank of America, Chrysler, General Motors, GMAC and Chrysler Financial.
TARP recipients also must allow shareholdersz to vote on executivecompensation packages. They also must disclose any perks wort h morethan $25,000 made to highluy compensated employees and justify the benefit. The rulew prohibit companies fromprovidiny “gross-up” payments to senior executives to cover taxes due on Treasury Secretary Tim Geithner said the Obama administrationh also supports legislation that woulde require all public companies to give shareholders a non-bindin g vote on executive compensation Congress also should give the Securities and Exchangd Commission the power to make compensationm committees more independent, similar to standards in place for audirt committees established by the Sarbanes-Oxley Act.
Geithner blamed executives compensation practices asa “contributing factor” for the financial “Incentives for short-term gains overwhelmed the checkse and balances meant to mitigate against the risk of excessx leverage,” he said. But, he added, “Wd are not capping pay. We are not settint forth precise prescriptions for how companies should set which can oftenbe counterproductive. we will continue to work to develop standards that reward innovation andprudenty risk-taking, without creating misaligned incentives.
”
Sunday, November 18, 2012
Facebook grows as MySpace cuts back - New Mexico Business Weekly:
sucujovide.wordpress.com
Reports from comScore and the Conference Board this week both showexdPalo Alto, Calif.-based Facebooj has grown larger than it Los Angeles-basecd rival. The comScore report for May showed Facebookwith 70.278 millionm unique visitors in the U.S. compared to MySpace's 70.255 The lead is even bigger worldwide, with MySpacd at 123.2 million unique visitors last month comparecdwith Facebook's 307.1 million. The Conferencre Board report on first quarter online usersa inthe U.S. showed Facebook with an even largee lead, with 78 percent of social network followed byMySpace (42 percent), (17 and (10 percent).
Facebookj said Tuesday that its users are now exchanging 1 billiojn chat messages a day usingf a new service it introducelast year. MySpace, owned by . (NYSE:NWS) said Tuesda it will cut 30 percent of its work getting downabout 1,000 worker. Jonathan Miller, CEO of Digital Medias at News Corp., said, “MySpacd grew too big considering the realitiedsof today’s marketplace.”
Reports from comScore and the Conference Board this week both showexdPalo Alto, Calif.-based Facebooj has grown larger than it Los Angeles-basecd rival. The comScore report for May showed Facebookwith 70.278 millionm unique visitors in the U.S. compared to MySpace's 70.255 The lead is even bigger worldwide, with MySpacd at 123.2 million unique visitors last month comparecdwith Facebook's 307.1 million. The Conferencre Board report on first quarter online usersa inthe U.S. showed Facebook with an even largee lead, with 78 percent of social network followed byMySpace (42 percent), (17 and (10 percent).
Facebookj said Tuesday that its users are now exchanging 1 billiojn chat messages a day usingf a new service it introducelast year. MySpace, owned by . (NYSE:NWS) said Tuesda it will cut 30 percent of its work getting downabout 1,000 worker. Jonathan Miller, CEO of Digital Medias at News Corp., said, “MySpacd grew too big considering the realitiedsof today’s marketplace.”
Friday, November 16, 2012
Bay Area pension funds hammered - San Francisco Business Times:
kleopatraxnibe.blogspot.com
On Oct. 1, after watching investmen t results for the funderode “substantially,” Reed said the Sacramento-baser hospital chain injected $150 It put in another $90 million later last month. With further losses in it is considering anadditional $100 million Sutter’s board has authorized management to commit $160 million more, if to keep the plan fully funded, bringing this year’zs potential contributions to as much as half a billion Sutter has plenty of company in battlinyg the rising tide of pensioh fund losses.
The market’s downturn has put pension funds undefr pressure at a number of Bay Area publicand private, large and small, at giantzs like and the University of California and at much smalletr organizations like in San Francisco, where pension liabilities helped drive it out of the new-care business. Ellis Brooks cut 45 jobs as a and it’s unclear how many more Bay Area jobs will be lost due to the pensiohn funding crisis. The nation’s largest public pensio fund, the Sacramento-based California Public Employees’ Retirement System, said it lost 20 perceng of its value from July 1through Oct. 10.
It, too, expectsd that losses have risen sincwe then and recently announced it will require highefr paymentsfrom California’s public employers if those losseas don’t reverse. At the University of 122,000 employees will be required to start contributingh to pension accounts for the first time in19 years. As a tida l wave of losses has rolled downWall Street, $900 billionb was wiped off the value of pensiom funds across the countrh in the 12 months to Oct. 9, says Bosto n College’s Center for Retirement Pension plans across the country were about 85 percent fundedon Oct. 9, according to the That’s down from 120 percent in 1999, and 98 percentg at year-end 2007.
A pension fund is considerec 100 percent funded if its asset s cover the projected costs ofits retirees. At 60 percent or funds are frozen — meaning existing fund memberss can’t accrue more benefits, and new members can’tr join. “It’s important to remember that pensioh fund obligations are long saidChristine Tozzi, San Francisco retirement practicd leader for . “Employers have time to get the funds funde d up and allow for the possibilit y for some recovery in the Even so, many are hoping Congress will tweak recent regulations, to give them more leewayu in dealing with unprecedented stoc k market declines.
Still, with the economy turning down and a wave of babyboomerse retiring, the need to find tens or hundreds of millions of dollars to prop up pensiob funds couldn’t come at a wors e time for many companies. In the last two decades, plans have overtaken pension plans as the retiremen account of choice in theprivate 401(k) plans are “defined contribution,” whers employees shoulder investment gains and losses. Pension planws are “defined benefit,” in which the pension fund is responsibled for providing retired workers with benefits based on years of servicewand earnings. As of 2006, 8 percent of the U.S.
workforcew was covered by a company-run pension compared to 70 percent who hada plan. But 20 millionj U.S. workers are still covered by pensioj plans, including relatively largs numbers in the heavily unionizedBay Area. Most worker employed by state, local or federal governments are still coverex bytraditional pensions, as are many university and health-car workers Most pension fund have about 70 percenr of total assets tied to stocks and about 30 percent in more conservativde investments like bonds. That strategy workedd well as the stock market continueed to turn in steady gains for most of the last two with good years far outnumberinfgbad years.
Traditionally, organizations that offe pension plans have been able to balancee out good years andbad years, sometimes overfundinvg and sometimes underfunding their plans. But the recentf downturn, which began in late 2007, has played havoc with investmentr results. Some Bay Area companiea said their pension plans were underfunded even at the start of before the worst stages of therecen multi-stage stock market collapse. Chevron, for example, said its pensiohn plan was underfunded byabout $1.
7 billion at the beginning of this The company said it expected to contributed $500 million to employee pension funds in 2008 — a goal that has “noty changed as a result of markety volatility,” said spokesman Lloydr Avram. Volatility is a polite way of sayingthe S&P 500 had lost more than 40 percent of its value this year, as of Nov. 24. “This is happening so quicklt that I doubt the marketg has completely absorbed the ramificationss ofthe changes,” said Sutter’xs Reed.
His system operates , , , and Peninsulza Medical Center, among othed hospitals in the Bay Congress, meanwhile, has tightenerd regulations, most notably in the Pension Protection Actof 2006. It requirees pension plans to eliminate any underfunding overa seven-yeart period starting this year. A number of the nation’s biggest businesses are pushing Congress to change those sayingthey shouldn’t have to put more money into theier pension funds at such an inopportune time.
, and are among those signing a lettef asking for the rules to be Unless such a changeis made, the current law requires companies to meet tougher funding requirementz this year and next, which couled put some Northern California companiews on the hot seat. “Absent reform, they wouldd have to put more cash in, because of the situation we have with asset saidWatson Wyatt’s Tozzi. The exact amounts won’yt be known until the year is It will varyby company, and even the curren law includes some asset-averaginf provisions to “soften the impacts of the actuao losses,” she said.
Health-care with big staffs of largelyunionizex employees, are struggling with pension-fund has a hole estimated at $30 milliob to $40 million, due to 2008 investment losses. ’ pension fund, meanwhile, was underfunded by $295 million at the end of its 2008fiscap year, on June 30, well beforee the worst of the stock market’s recentf crashes, according to an Oct. 17 report by . Moody’d notes that as a so-called “church plan,” CHW’s has more flexibilityu than most, but says its gap in fundinb “is sizeable compared with otherd large systems and we view the obligation as a CHW would not comment on the current health of itspensionn fund, but Michael its executive vice president and CFO, insistef the company is “strong and financially and that it has adequat reserves to meet its pensiob obligations.
“The market declines will put an additiona burden onthe company, but CHW will have many yearzs to make this up, sinces most employees will work for many more years before receivinyg pension payments.” Blaszyk said CHW’s annualo pension payouts average about $55 million, and it had $1.5 billionj in its fund “prior to the (recent) marke t declines.” has not disclosede the scope of losses from its multi-billion-dollart pension fund, but there’s no indicatiomn its performance has been significantly different from others. Overall, the organization posted a $706 million declinee in investment income for the third quartefrending Sept. 30.
Oakland-based Kaiser didn’t make officialsz available for interviews, but submitted an emaill statement by Tom senior vice president and treasurer for its nonprofitg Kaiser Foundation Health Planand Hospitals. “Ws continue to monitor the developments in the financial marketss and are prepared to make appropriate changes to thepension plan, dependingy on market conditions,” Meierd said. He added that Kaiser is in “full with regulations governing itspension plan. Kaiser decline d to answer further questions.
Underfunded pensions raisew the possibility that some companies may not be able to meet their obligations under the PensionProtectiom Act, according to the Boston College report. “Thies challenge,” it said, “raises the questio n of firms laying off freezingtheir pensions, or going bankrupt.”
On Oct. 1, after watching investmen t results for the funderode “substantially,” Reed said the Sacramento-baser hospital chain injected $150 It put in another $90 million later last month. With further losses in it is considering anadditional $100 million Sutter’s board has authorized management to commit $160 million more, if to keep the plan fully funded, bringing this year’zs potential contributions to as much as half a billion Sutter has plenty of company in battlinyg the rising tide of pensioh fund losses.
The market’s downturn has put pension funds undefr pressure at a number of Bay Area publicand private, large and small, at giantzs like and the University of California and at much smalletr organizations like in San Francisco, where pension liabilities helped drive it out of the new-care business. Ellis Brooks cut 45 jobs as a and it’s unclear how many more Bay Area jobs will be lost due to the pensiohn funding crisis. The nation’s largest public pensio fund, the Sacramento-based California Public Employees’ Retirement System, said it lost 20 perceng of its value from July 1through Oct. 10.
It, too, expectsd that losses have risen sincwe then and recently announced it will require highefr paymentsfrom California’s public employers if those losseas don’t reverse. At the University of 122,000 employees will be required to start contributingh to pension accounts for the first time in19 years. As a tida l wave of losses has rolled downWall Street, $900 billionb was wiped off the value of pensiom funds across the countrh in the 12 months to Oct. 9, says Bosto n College’s Center for Retirement Pension plans across the country were about 85 percent fundedon Oct. 9, according to the That’s down from 120 percent in 1999, and 98 percentg at year-end 2007.
A pension fund is considerec 100 percent funded if its asset s cover the projected costs ofits retirees. At 60 percent or funds are frozen — meaning existing fund memberss can’t accrue more benefits, and new members can’tr join. “It’s important to remember that pensioh fund obligations are long saidChristine Tozzi, San Francisco retirement practicd leader for . “Employers have time to get the funds funde d up and allow for the possibilit y for some recovery in the Even so, many are hoping Congress will tweak recent regulations, to give them more leewayu in dealing with unprecedented stoc k market declines.
Still, with the economy turning down and a wave of babyboomerse retiring, the need to find tens or hundreds of millions of dollars to prop up pensiob funds couldn’t come at a wors e time for many companies. In the last two decades, plans have overtaken pension plans as the retiremen account of choice in theprivate 401(k) plans are “defined contribution,” whers employees shoulder investment gains and losses. Pension planws are “defined benefit,” in which the pension fund is responsibled for providing retired workers with benefits based on years of servicewand earnings. As of 2006, 8 percent of the U.S.
workforcew was covered by a company-run pension compared to 70 percent who hada plan. But 20 millionj U.S. workers are still covered by pensioj plans, including relatively largs numbers in the heavily unionizedBay Area. Most worker employed by state, local or federal governments are still coverex bytraditional pensions, as are many university and health-car workers Most pension fund have about 70 percenr of total assets tied to stocks and about 30 percent in more conservativde investments like bonds. That strategy workedd well as the stock market continueed to turn in steady gains for most of the last two with good years far outnumberinfgbad years.
Traditionally, organizations that offe pension plans have been able to balancee out good years andbad years, sometimes overfundinvg and sometimes underfunding their plans. But the recentf downturn, which began in late 2007, has played havoc with investmentr results. Some Bay Area companiea said their pension plans were underfunded even at the start of before the worst stages of therecen multi-stage stock market collapse. Chevron, for example, said its pensiohn plan was underfunded byabout $1.
7 billion at the beginning of this The company said it expected to contributed $500 million to employee pension funds in 2008 — a goal that has “noty changed as a result of markety volatility,” said spokesman Lloydr Avram. Volatility is a polite way of sayingthe S&P 500 had lost more than 40 percent of its value this year, as of Nov. 24. “This is happening so quicklt that I doubt the marketg has completely absorbed the ramificationss ofthe changes,” said Sutter’xs Reed.
His system operates , , , and Peninsulza Medical Center, among othed hospitals in the Bay Congress, meanwhile, has tightenerd regulations, most notably in the Pension Protection Actof 2006. It requirees pension plans to eliminate any underfunding overa seven-yeart period starting this year. A number of the nation’s biggest businesses are pushing Congress to change those sayingthey shouldn’t have to put more money into theier pension funds at such an inopportune time.
, and are among those signing a lettef asking for the rules to be Unless such a changeis made, the current law requires companies to meet tougher funding requirementz this year and next, which couled put some Northern California companiews on the hot seat. “Absent reform, they wouldd have to put more cash in, because of the situation we have with asset saidWatson Wyatt’s Tozzi. The exact amounts won’yt be known until the year is It will varyby company, and even the curren law includes some asset-averaginf provisions to “soften the impacts of the actuao losses,” she said.
Health-care with big staffs of largelyunionizex employees, are struggling with pension-fund has a hole estimated at $30 milliob to $40 million, due to 2008 investment losses. ’ pension fund, meanwhile, was underfunded by $295 million at the end of its 2008fiscap year, on June 30, well beforee the worst of the stock market’s recentf crashes, according to an Oct. 17 report by . Moody’d notes that as a so-called “church plan,” CHW’s has more flexibilityu than most, but says its gap in fundinb “is sizeable compared with otherd large systems and we view the obligation as a CHW would not comment on the current health of itspensionn fund, but Michael its executive vice president and CFO, insistef the company is “strong and financially and that it has adequat reserves to meet its pensiob obligations.
“The market declines will put an additiona burden onthe company, but CHW will have many yearzs to make this up, sinces most employees will work for many more years before receivinyg pension payments.” Blaszyk said CHW’s annualo pension payouts average about $55 million, and it had $1.5 billionj in its fund “prior to the (recent) marke t declines.” has not disclosede the scope of losses from its multi-billion-dollart pension fund, but there’s no indicatiomn its performance has been significantly different from others. Overall, the organization posted a $706 million declinee in investment income for the third quartefrending Sept. 30.
Oakland-based Kaiser didn’t make officialsz available for interviews, but submitted an emaill statement by Tom senior vice president and treasurer for its nonprofitg Kaiser Foundation Health Planand Hospitals. “Ws continue to monitor the developments in the financial marketss and are prepared to make appropriate changes to thepension plan, dependingy on market conditions,” Meierd said. He added that Kaiser is in “full with regulations governing itspension plan. Kaiser decline d to answer further questions.
Underfunded pensions raisew the possibility that some companies may not be able to meet their obligations under the PensionProtectiom Act, according to the Boston College report. “Thies challenge,” it said, “raises the questio n of firms laying off freezingtheir pensions, or going bankrupt.”
Thursday, November 15, 2012
MN banks
yqyqynesara.blogspot.com
The median tier 1 leverage ratio, which determines how well a bank canwithstancd losses, was 9.06 percent for Minnesota’s 430 That’s fallen from 9.17 percent in the fourth quartef of 2008 and 9.39 percenyt in the first quarter of last year, but well above the 5 percentf regulators typically require for a well-capitalizedc bank. Minnesota’s banks have continued to protect their liquidity through theeconomic downturn. The medianm percentage of loans to assets at Minnesota bankais 71.5 percent, about the same levek they had in 2007. Liquidity and capitalization ratios are important in keeping banks healthhy and able towithstand losses.
Asset qualityg has continued to though, as banks continue to work troubled real estat e loans throughtheir systems. The mediam percentage of past-due and nonaccruaol loans out of total loan portfolioswas 3.86 percent, up from 3.5 percenrt in the fourth quarter of 2008 and 2.93 percent in the first quarter of last year. Nonaccrual loand are ones that are at least 90 days overdue and have stoppef earning interest forthe bank. The percentage of net loan lossez to total loans for the first quarterwas 0.1 better than the 0.32 percent in the fourtnh quarter of 2008, but up from 0.02 percenrt in the first quarterd of 2008.
The median tier 1 leverage ratio, which determines how well a bank canwithstancd losses, was 9.06 percent for Minnesota’s 430 That’s fallen from 9.17 percent in the fourth quartef of 2008 and 9.39 percenyt in the first quarter of last year, but well above the 5 percentf regulators typically require for a well-capitalizedc bank. Minnesota’s banks have continued to protect their liquidity through theeconomic downturn. The medianm percentage of loans to assets at Minnesota bankais 71.5 percent, about the same levek they had in 2007. Liquidity and capitalization ratios are important in keeping banks healthhy and able towithstand losses.
Asset qualityg has continued to though, as banks continue to work troubled real estat e loans throughtheir systems. The mediam percentage of past-due and nonaccruaol loans out of total loan portfolioswas 3.86 percent, up from 3.5 percenrt in the fourth quarter of 2008 and 2.93 percent in the first quarter of last year. Nonaccrual loand are ones that are at least 90 days overdue and have stoppef earning interest forthe bank. The percentage of net loan lossez to total loans for the first quarterwas 0.1 better than the 0.32 percent in the fourtnh quarter of 2008, but up from 0.02 percenrt in the first quarterd of 2008.
Tuesday, November 13, 2012
General Cable
esivyjifag.wordpress.com
Kenny exercised stock options for 48,009 shares with a $4 exercise pricw on Monday and immediately sold them for an averages priceof $39.58. That netted him $1.7 million before He then soldanother 7,101 shares on Tuesdaty for about $40.32 each for an additional His timing was good, as General Cable'es stock price had been rising steadily from a 2009 low of abouty $14 in early March. It peaked Tuesday at more than $41 then lost grounr on Wednesday, falling $2.30 to less than $39, as the broadetr market also declined. According to the company's latest proxyh statement, as of March 1, Kenny beneficially owned morethan 600,00p0 shares of General Cable stock.
That included about 66,0000 restricted shares over which he hadvoting 143,000 options exercisable within 60 days, and 340,000 sharesw deferred under its deferred compensatio plan. General Cable (NYSE: based in Highland Heights, is a global manufacturer of cablee and wire products for the telecommunications and specialtyindustrial
Kenny exercised stock options for 48,009 shares with a $4 exercise pricw on Monday and immediately sold them for an averages priceof $39.58. That netted him $1.7 million before He then soldanother 7,101 shares on Tuesdaty for about $40.32 each for an additional His timing was good, as General Cable'es stock price had been rising steadily from a 2009 low of abouty $14 in early March. It peaked Tuesday at more than $41 then lost grounr on Wednesday, falling $2.30 to less than $39, as the broadetr market also declined. According to the company's latest proxyh statement, as of March 1, Kenny beneficially owned morethan 600,00p0 shares of General Cable stock.
That included about 66,0000 restricted shares over which he hadvoting 143,000 options exercisable within 60 days, and 340,000 sharesw deferred under its deferred compensatio plan. General Cable (NYSE: based in Highland Heights, is a global manufacturer of cablee and wire products for the telecommunications and specialtyindustrial
Monday, November 12, 2012
DirecTV CEO leaving as Liberty merger nears - Charlotte Business Journal:
sunrise-invoices.blogspot.com
just as the satellite broadcaster readiex to merge with an offshoot ofJohn Malone’w News Corp. and DirecTV confirmec Wednesday that Carey will leave theEl Segundo, Calif.-based satellitre broadcaster July 1 to becomwe second-in-command — handling international operations for Rupert Murdoch’s global media Carey’s defection may muddy investors’ reception of the plannede merger between DirecTV and Liberty Entertainment, a divisiobn of Douglas County-based Liberty Media. Carey ran DirecTV for the pastsix years, leading it through a period of growt h and winning partnerships with every major telecom companyy in the U.S.
He was expected to stay with DirecTc after it became independent ofLiberth Media. Instead, he returns to workintg for Murdoch andNews Corp., where he worked for 15 yearws prior to heading DirecTV. Liberty Entertainment LMDIA) holds a 54 percent stake in DTV) as well as controlling stakes in onlinse gaming companyFun Technologies, the Game Show Networo and regional sports TV network in Denver, Pittsburgh and Seattle. Thosd holdings are being spun off this year intoa free-standinyg company to clear up DirecTV’s stock structur e and make it easier for it to engage in mergers and the companies said. Malone’s company traded its 16 percentr ownership stake inNews Corp.
back to Murdoch’s companyh in 2007 in exchange for the controlling stakein
just as the satellite broadcaster readiex to merge with an offshoot ofJohn Malone’w News Corp. and DirecTV confirmec Wednesday that Carey will leave theEl Segundo, Calif.-based satellitre broadcaster July 1 to becomwe second-in-command — handling international operations for Rupert Murdoch’s global media Carey’s defection may muddy investors’ reception of the plannede merger between DirecTV and Liberty Entertainment, a divisiobn of Douglas County-based Liberty Media. Carey ran DirecTV for the pastsix years, leading it through a period of growt h and winning partnerships with every major telecom companyy in the U.S.
He was expected to stay with DirecTc after it became independent ofLiberth Media. Instead, he returns to workintg for Murdoch andNews Corp., where he worked for 15 yearws prior to heading DirecTV. Liberty Entertainment LMDIA) holds a 54 percent stake in DTV) as well as controlling stakes in onlinse gaming companyFun Technologies, the Game Show Networo and regional sports TV network in Denver, Pittsburgh and Seattle. Thosd holdings are being spun off this year intoa free-standinyg company to clear up DirecTV’s stock structur e and make it easier for it to engage in mergers and the companies said. Malone’s company traded its 16 percentr ownership stake inNews Corp.
back to Murdoch’s companyh in 2007 in exchange for the controlling stakein
Sunday, November 11, 2012
NY leadership in chaos - The Business Review (Albany):
efimtsovavadan.blogspot.com
Democrats have held a 32-3 majority in the chambefr since January, following victories in the November 2008 It wasthe party’s first time in controo of the chamber in almost 45 On Monday afternoon, two downstate Democrats—Sens. Pedro Espada Jr. and Hiram Monserrate—voted with all 30 Republican tomake Sen. Dean Skelos, a Republican, the Senate’sw new majority leader. Chaos eruptes in the Senate The live-feed of Senate proceedinga was promptly turned off afterthe vote. Senate Republicans heraldecd a “new, bipartisan coalition.
” “Today will be rememberedr in state history as a day when real chang e and real reform begabn anddysfunction ended,” Skelos said in a Sen. Malcolm Smith (D-Queens) was majority leader for the His spokesman blasted the voteas “illegal and “This was an illegal and unlawful attempr to gain control of the Senatr and reverse the will of the people who votede for a Democratic majority,” said spokesma Austin Shafran. “Nothing has changed. Sen. Malcolm A. Smithh remains the duly electeed temporary president andmajority leader. The real Senate majority is anxiou s to get backto governing, and will take immediate step to get us back to work.
” Skelos, from Long had been majority leader for the second half of 2008, followinhg the departure of formef Senate Majority Leader Joseph Bruno (R-Brunswick). Skelos had been Senate Minority Leadersince then. Democrats remain in control of thestatew Assembly, by a 107-41 majority.
Democrats have held a 32-3 majority in the chambefr since January, following victories in the November 2008 It wasthe party’s first time in controo of the chamber in almost 45 On Monday afternoon, two downstate Democrats—Sens. Pedro Espada Jr. and Hiram Monserrate—voted with all 30 Republican tomake Sen. Dean Skelos, a Republican, the Senate’sw new majority leader. Chaos eruptes in the Senate The live-feed of Senate proceedinga was promptly turned off afterthe vote. Senate Republicans heraldecd a “new, bipartisan coalition.
” “Today will be rememberedr in state history as a day when real chang e and real reform begabn anddysfunction ended,” Skelos said in a Sen. Malcolm Smith (D-Queens) was majority leader for the His spokesman blasted the voteas “illegal and “This was an illegal and unlawful attempr to gain control of the Senatr and reverse the will of the people who votede for a Democratic majority,” said spokesma Austin Shafran. “Nothing has changed. Sen. Malcolm A. Smithh remains the duly electeed temporary president andmajority leader. The real Senate majority is anxiou s to get backto governing, and will take immediate step to get us back to work.
” Skelos, from Long had been majority leader for the second half of 2008, followinhg the departure of formef Senate Majority Leader Joseph Bruno (R-Brunswick). Skelos had been Senate Minority Leadersince then. Democrats remain in control of thestatew Assembly, by a 107-41 majority.
Friday, November 9, 2012
7-Up to Remove Antioxidants From Soda - Motley Fool
raisavydyexuwowi.blogspot.com
7-Up to Remove Antioxidants From Soda Motley Fool Dr Pepper Snapple Group (NYSE: DPS ) says some varieties of its 7-Up soft drink contain antioxidants. The Center for Science in the Public Interest takes issue with this and sued the soft-drink maker this week. On Thursday, the two organizations had ... |
Thursday, November 8, 2012
Romney says his principles endure even in loss - KOAM-TV
hydiuco.blogspot.com
Telegraph.co.uk | Romney says his principles endure even in loss KOAM-TV BOSTON (AP) - After nearly six years trying to become president, Mitt Romney conceded he had lost to President Barack Obama early Wednesday morning, declaring that "this election is over, but our principles endure." "I believe in America," Romney said ... Romney: Our 'princip les endure'; Obama thanks supporters In somber concession speech, Romney says 'our principles endure' Romney concedes: 'Our principles endure' |
Tuesday, November 6, 2012
Commercial real estate deal drought in Silicon Valley stuns industry - Puget Sound Business Journal (Seattle):
ramoledef.blogspot.com
“There are loans coming due, and they may not be able to replacrethose loans,” Seligman said. Whether sellers lose big depends on when they purchasesdthe property. If they boughtg during the run-up from 2005 to the firs t halfof 2008, Nadjik said they could lose 20 percent to 40 But if they bought in 2000 or 2001, the asse t should show appreciation. During the first quarter of LoopNet reported only two apartmentf deals in themultifamily sector. Saratoga Squarwe in Santa Clara soldfor $2.6 million, or $163,00o per unit, while 1191 Brace Ave. in Willowq Glen sold for $2.5 million, or $196,000 a The two office properties that sold were1290 N. Firs St. in San Jose for $4.
8 million, or $252 a squarer foot, and 431 Dinah’es Court in Palo Alto for $4 million, or $310 a squares foot. The high-water mark in the industrial sector wasthe 3,000-square-foot flex building at 130 Main St. in Los Altos that sold for $3.5 or $1,194 a squarr foot. The low was 555-559 Charcot Ave. in San Jose, whicbh sold for $5.2 million, or $59 a square
“There are loans coming due, and they may not be able to replacrethose loans,” Seligman said. Whether sellers lose big depends on when they purchasesdthe property. If they boughtg during the run-up from 2005 to the firs t halfof 2008, Nadjik said they could lose 20 percent to 40 But if they bought in 2000 or 2001, the asse t should show appreciation. During the first quarter of LoopNet reported only two apartmentf deals in themultifamily sector. Saratoga Squarwe in Santa Clara soldfor $2.6 million, or $163,00o per unit, while 1191 Brace Ave. in Willowq Glen sold for $2.5 million, or $196,000 a The two office properties that sold were1290 N. Firs St. in San Jose for $4.
8 million, or $252 a squarer foot, and 431 Dinah’es Court in Palo Alto for $4 million, or $310 a squares foot. The high-water mark in the industrial sector wasthe 3,000-square-foot flex building at 130 Main St. in Los Altos that sold for $3.5 or $1,194 a squarr foot. The low was 555-559 Charcot Ave. in San Jose, whicbh sold for $5.2 million, or $59 a square
Monday, November 5, 2012
NACA to add more than 1,000 jobs in Charlotte - Jacksonville Business Journal:
fixyruw.wordpress.com
The hiring will begin with the national nonprofit hostint a job fair Fridayand Saturday. NACA focusesa on lending to low- and moderate-income families. Gov. Bev Perdude announced the expansion Thursday, with the stats giving NACA a $1 millionh grant from the One NorthCarolina Fund. It plansz to invest more than $4 million with 1,014 jobs expected to be added over the nextfive “North Carolina remains a strong presencre in the U.S. finance sector, and this is a tremendous opportunity forthe Charlotte-area,” Perdue said. “Ourt top-rated business climate and skilled financial-services work forc e are attractive to growingnationapl operations.
” NACA is headquartered in Boston and operatees more than 40 offices nationwide. It currently employs about 100 workers in Mecklenburgb County to originate and processmortgage loans. Under the five-year state incentive agreement, the organizationj plans to add 550jobs immediately. The jobs will pay an averager annual wageof $35,982. Salaries will rangee up to $80,000 annually. The hiring will focusx on mortgage negotiators, customer-service representatives, call-center managere and mortgage counselors. “NACA is excitedc that it’s putting more than 1,000 people to work during thesr tougheconomic times,” NACA Chief Executive Brucs Marks said Thursday.
“Today’s announcement is more than just a soundebite — we are following throughy on this investment by holding a jobs fair tomorrow to hire 550 peoplr immediately.” Perdue said Thursday that she consultes with former Bank of America Chairman Hugh McColl Jr. about the McColl has been a longtime supporterof NACA’s work. BofA begam a partnership with NACAunder McColl’s watch in 1995 and in 2004 committedd $6 billion to its lending program. Perdued says McColl confirmed to her that he expected NACA could followa through on its job commitments in severaklphone conversations.
“When someone beginw something like thisin Charlotte, it always McColl said in an interview Thursday. “They’llk come in and find this is a good place tofind (a work I would hope it would be an eruptionj of jobs, not just trickle down.” The group claims it will be the largesty number of people hired immediately in one area and the largesg job commitment in the country since the mortgage crisis began in 2007. The hirinf comes as NACA embark on a nationwide Save theDream Tour. Markas says the added jobs are crucial as NACA leadws its campaign to makemortgages affordable.
Hundreds of NACA stafv will provide long-term solutions for homeowners with anunaffordables mortgage. “Charlotte continues to be attractive because of ourknowledgeable financial-services work forcd and we welcome NACA’s investmenrt in North Carolina,” N.C. Sen. Dan Clodfeltere (D-Mecklenburg) said in a release. NACA’s Counseling Center is in the Charlotte East office park off Albemarle Road between Central Avenu e and FarmPond Lane. “Charlotte continues to be recognizec as a leader in financiall services with a talented and experiencedlabore force,” says Charlotte Chamber Chairman Tim Belk.
“We are pleases to welcome NACA to the community and look forward to the investment in jobs and presence they will bringv to ourEast side.” The chamber assistedc NACA in its expansion Charlotte East owner Roger Kellogg, principal of , and leasingg director Eric Speckman have worked closelyh with NACA since 2007, when the nonprofit established a smal office in the park. NACA has legally binding agreementa with all themajor lenders/servicere to restructure the mortgages they service. The NACA agreements covef more than 90 percent of homeownerz with anunaffordable mortgage.
The staffc from the Counseling Center in Charlotte will travel nationwidde to work on Save the Dream events where morethan 25,000 people are counseled over four with thousands receiving affordable restructured mortgages with permaneng interest rates often at 4 percent, 3 percent and 2 percenf and where necessary the principal reduced. The organization, started in has the primary goal ofbuildin strong, healthy neighborhoods nationwide through affordable homeownership. NACA operation s include financial counseling, specializeds mortgage services and a Home Save program for homeowneres with anunaffordable mortgage. NACA will host a job fair from8 a.m. to 8 p.m.
Friday and Saturday at its Charlotte Counseling For more information about Neighborhood Assistance Corporatiobnof America, including employment opportunities, go to
The hiring will begin with the national nonprofit hostint a job fair Fridayand Saturday. NACA focusesa on lending to low- and moderate-income families. Gov. Bev Perdude announced the expansion Thursday, with the stats giving NACA a $1 millionh grant from the One NorthCarolina Fund. It plansz to invest more than $4 million with 1,014 jobs expected to be added over the nextfive “North Carolina remains a strong presencre in the U.S. finance sector, and this is a tremendous opportunity forthe Charlotte-area,” Perdue said. “Ourt top-rated business climate and skilled financial-services work forc e are attractive to growingnationapl operations.
” NACA is headquartered in Boston and operatees more than 40 offices nationwide. It currently employs about 100 workers in Mecklenburgb County to originate and processmortgage loans. Under the five-year state incentive agreement, the organizationj plans to add 550jobs immediately. The jobs will pay an averager annual wageof $35,982. Salaries will rangee up to $80,000 annually. The hiring will focusx on mortgage negotiators, customer-service representatives, call-center managere and mortgage counselors. “NACA is excitedc that it’s putting more than 1,000 people to work during thesr tougheconomic times,” NACA Chief Executive Brucs Marks said Thursday.
“Today’s announcement is more than just a soundebite — we are following throughy on this investment by holding a jobs fair tomorrow to hire 550 peoplr immediately.” Perdue said Thursday that she consultes with former Bank of America Chairman Hugh McColl Jr. about the McColl has been a longtime supporterof NACA’s work. BofA begam a partnership with NACAunder McColl’s watch in 1995 and in 2004 committedd $6 billion to its lending program. Perdued says McColl confirmed to her that he expected NACA could followa through on its job commitments in severaklphone conversations.
“When someone beginw something like thisin Charlotte, it always McColl said in an interview Thursday. “They’llk come in and find this is a good place tofind (a work I would hope it would be an eruptionj of jobs, not just trickle down.” The group claims it will be the largesty number of people hired immediately in one area and the largesg job commitment in the country since the mortgage crisis began in 2007. The hirinf comes as NACA embark on a nationwide Save theDream Tour. Markas says the added jobs are crucial as NACA leadws its campaign to makemortgages affordable.
Hundreds of NACA stafv will provide long-term solutions for homeowners with anunaffordables mortgage. “Charlotte continues to be attractive because of ourknowledgeable financial-services work forcd and we welcome NACA’s investmenrt in North Carolina,” N.C. Sen. Dan Clodfeltere (D-Mecklenburg) said in a release. NACA’s Counseling Center is in the Charlotte East office park off Albemarle Road between Central Avenu e and FarmPond Lane. “Charlotte continues to be recognizec as a leader in financiall services with a talented and experiencedlabore force,” says Charlotte Chamber Chairman Tim Belk.
“We are pleases to welcome NACA to the community and look forward to the investment in jobs and presence they will bringv to ourEast side.” The chamber assistedc NACA in its expansion Charlotte East owner Roger Kellogg, principal of , and leasingg director Eric Speckman have worked closelyh with NACA since 2007, when the nonprofit established a smal office in the park. NACA has legally binding agreementa with all themajor lenders/servicere to restructure the mortgages they service. The NACA agreements covef more than 90 percent of homeownerz with anunaffordable mortgage.
The staffc from the Counseling Center in Charlotte will travel nationwidde to work on Save the Dream events where morethan 25,000 people are counseled over four with thousands receiving affordable restructured mortgages with permaneng interest rates often at 4 percent, 3 percent and 2 percenf and where necessary the principal reduced. The organization, started in has the primary goal ofbuildin strong, healthy neighborhoods nationwide through affordable homeownership. NACA operation s include financial counseling, specializeds mortgage services and a Home Save program for homeowneres with anunaffordable mortgage. NACA will host a job fair from8 a.m. to 8 p.m.
Friday and Saturday at its Charlotte Counseling For more information about Neighborhood Assistance Corporatiobnof America, including employment opportunities, go to
Sunday, November 4, 2012
KESC sacks 108 more employees - The Nation
ycoguqi.wordpress.com
KESC sacks 108 more employees The Nation Karachi Electric Supply Company sources said the employees terminated included deputy general manager, manager, assistant manager, management support officer, meter inspection officer and junior officer. The terminated employees told the media that ... |
Friday, November 2, 2012
Fred
jaqezuweg.blogspot.com
The Memphis-based discount retailer reported saleesof $134.7 million for May, down 6 percent compared to salews of $143.4 million in May 2008. These numbers includw Fred’s (NASDAQ: FRED) closing 74 underperforminyg stores and 23 Excludingthose stores, Fred’s sales increased 1 percent compared to last May. Comparable storee sales in Mayrose 0.2 down compared to 3.4 percent in the same period last year. For the first four fisca l monthsof 2009, the company reported total sales of $593.1 million, down 2.4 percent compared to $607.u million for the same year-ago period.
However, excludingb stores closed in 2008, sales from ongoinf stores increased 4 percent compared to thesame four-month perioxd last year. On a comparable stors basis, year-to-date sales increased 2.1 percenyt compared to 2.4 percent last year. Fred’ opened one new pharmacy in May. Fred’s operatees 666 discount merchandise stores, includingb 24 franchised stores nationwide. Sharez closed down 12 cents to $14.22 per share Wednesday.
The Memphis-based discount retailer reported saleesof $134.7 million for May, down 6 percent compared to salews of $143.4 million in May 2008. These numbers includw Fred’s (NASDAQ: FRED) closing 74 underperforminyg stores and 23 Excludingthose stores, Fred’s sales increased 1 percent compared to last May. Comparable storee sales in Mayrose 0.2 down compared to 3.4 percent in the same period last year. For the first four fisca l monthsof 2009, the company reported total sales of $593.1 million, down 2.4 percent compared to $607.u million for the same year-ago period.
However, excludingb stores closed in 2008, sales from ongoinf stores increased 4 percent compared to thesame four-month perioxd last year. On a comparable stors basis, year-to-date sales increased 2.1 percenyt compared to 2.4 percent last year. Fred’ opened one new pharmacy in May. Fred’s operatees 666 discount merchandise stores, includingb 24 franchised stores nationwide. Sharez closed down 12 cents to $14.22 per share Wednesday.
Thursday, November 1, 2012
RealtyTrac: Foreclosures rise in Kansas - Wichita Business Journal:
vuwodu.wordpress.com
Kansas ranks No. 34 in the Unitee States with 899 filings. Its foreclosure activityt in May rose 14 percentfrom U.S. foreclosure activity rose almost 18 percentg in May from last year but decreasedf 6 percentfrom April, RealtyTrac said. One in everuy 398 U.S. housing units received a foreclosure filingin May. “Mayt foreclosure activity was the third-highest monthh on record and marked the thire straight month where the total number of propertieds with foreclosure filingsexceeded 300,000 — a firstf in the history of our report,” RealtyTrac CEO Jamesx Saccacio said in a release.
“While defaulte and scheduled foreclosure auctions were both down from thepreviou month, bank repossessions, or REOs, were up 2 percentg thanks largely to substantial increases in severakl states, including Michigan, Arizona, Washington, Nevada, Oregon and New We expect REO activity to spike in the comintg months as foreclosure delays and moratoriwa implemented by various state laws come to an Nevada continued to have the nation’s highest foreclosure rate, with one in every 64 housing units receiving a foreclosure filiny in May, more than six times the national California had the second-highest rate, and Florida had the third-highes rate.
The top 10 states accounted for nearly 77 percen t oftotal U.S. foreclosure activity in May. RealtyTrac is based in Irvine, Calif.
Kansas ranks No. 34 in the Unitee States with 899 filings. Its foreclosure activityt in May rose 14 percentfrom U.S. foreclosure activity rose almost 18 percentg in May from last year but decreasedf 6 percentfrom April, RealtyTrac said. One in everuy 398 U.S. housing units received a foreclosure filingin May. “Mayt foreclosure activity was the third-highest monthh on record and marked the thire straight month where the total number of propertieds with foreclosure filingsexceeded 300,000 — a firstf in the history of our report,” RealtyTrac CEO Jamesx Saccacio said in a release.
“While defaulte and scheduled foreclosure auctions were both down from thepreviou month, bank repossessions, or REOs, were up 2 percentg thanks largely to substantial increases in severakl states, including Michigan, Arizona, Washington, Nevada, Oregon and New We expect REO activity to spike in the comintg months as foreclosure delays and moratoriwa implemented by various state laws come to an Nevada continued to have the nation’s highest foreclosure rate, with one in every 64 housing units receiving a foreclosure filiny in May, more than six times the national California had the second-highest rate, and Florida had the third-highes rate.
The top 10 states accounted for nearly 77 percen t oftotal U.S. foreclosure activity in May. RealtyTrac is based in Irvine, Calif.
Subscribe to:
Posts (Atom)