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Under the deal for 120,000 squarwe feet reached by the state Division of Capitall Asset Management andNordic Properties, which owns the building at 1000 Washingtobn St. across from Herald Square, the Divisionm of Insurance, Division of Banks and Division of Telecommunications will move to the buildingf from their current locatiobn inSouth Station. The also is in discussion s to move there from 239Causewayy St. near North Station. All four leases expire June 20. A fifth agency, the Departmeny of Public Utilities, will stay in its 40,000-square-foot space at South Station, according to real estate sources.
Kevinj Flanigan, a deputy directorr at the state Division of CapitalAssef Management, said the selection has been made but declinede to discuss details. “We’re in the processd of negotiating leases. Untikl that’s done we’re not really going to discusasit publicly,” he said. The agencies that are moving will leasew floors six through 10 ofthe 11-story building. The top floor of the buildiny features anemployee cafeteria. Located at 321 Harrison Ave., the formef Teradyne building has been empty since Nordic boughf the propertyfor $34.7 million in October of 2006.
Losingt the three agencies, which are vacating a combinedc 65,000 square feet in South Station, will be a blow to the cash-strappedd , which owns the and to Equity OfficeProperties Trust, which managea the site and sharesa in revenue. The four agencies will pay rents in thehigh $20s to low $30s per squarse foot at 1000 Washington, compared with the mid-to-hig h $30s offered by Equity Office if the agencies had renewex at South Station, accordingf to a real estate source familiar with the Critics questioned in published reports why statew agencies would pay rent to a private landlord at the expenss of the MBTA, a state Filling the space in South Station during the economicf downturn may prove difficult and costly.
Very few businessesw are expanding, never mind
Sunday, December 30, 2012
Saturday, December 29, 2012
Steelers slide slightly in study of sports team brands - Pittsburgh Business Times:
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The 2008 Eastern Conference championPittsburgh , howevedr improved from 20th to No. 8 on the 2008 Team Brane Index. “Pittsburgh fans get it – they know what makesd a great sportsteam brand,” Len Perna, presidengt and CEO of Turnkey said in a statement. “Thse Steelers finished No. 1 overall in 2007, and actuall y indexed higher in 2008, but were passedr by the Packersand ,” said Fans rated 122 teams on 21 distincy factors, including how fans perceive entertainmeny value, how well they like the perceptions of ownership, and the team's commitmen t to winning.
The study also tested each team on 36 brand Pittsburgh fansrated “hard-working” as the most importanty attribute for a local sports team. The Penguins ranked most hard-workingg in Pittsburgh, according to A separate part of the studyy askedfor fans' perceptions of team sponsors. The 2008 Sponsoe Loyalty Index foundthat Pittsburgh-area fans care who is sponsorinv the Steelers and Penguins. “Both team brands rankede in the top 20 of all 122team – they both deliver for their sponsors,” said Heinz was designated the "most-admired sponsor" in Pittsburgh. tied for seconrd and was the most admired ofthe non-nationa sponsors.
The study tracked consumer opinions on more than 150 regional and national companies thatsponsofr NFL, NBA, and MLB teams. Fans rated the as the "most-admirexd league" in Pittsburgh. The team with the largesf out-of-market following is the , the surveyy found. Haddonfield, N.J.-based Turnkey provides market researchy to sponsorsand properties. A more complete listintg of the survey resultss can be found inthe , a sister publication to the Pittsburgh Business Times.
The 2008 Eastern Conference championPittsburgh , howevedr improved from 20th to No. 8 on the 2008 Team Brane Index. “Pittsburgh fans get it – they know what makesd a great sportsteam brand,” Len Perna, presidengt and CEO of Turnkey said in a statement. “Thse Steelers finished No. 1 overall in 2007, and actuall y indexed higher in 2008, but were passedr by the Packersand ,” said Fans rated 122 teams on 21 distincy factors, including how fans perceive entertainmeny value, how well they like the perceptions of ownership, and the team's commitmen t to winning.
The study also tested each team on 36 brand Pittsburgh fansrated “hard-working” as the most importanty attribute for a local sports team. The Penguins ranked most hard-workingg in Pittsburgh, according to A separate part of the studyy askedfor fans' perceptions of team sponsors. The 2008 Sponsoe Loyalty Index foundthat Pittsburgh-area fans care who is sponsorinv the Steelers and Penguins. “Both team brands rankede in the top 20 of all 122team – they both deliver for their sponsors,” said Heinz was designated the "most-admired sponsor" in Pittsburgh. tied for seconrd and was the most admired ofthe non-nationa sponsors.
The study tracked consumer opinions on more than 150 regional and national companies thatsponsofr NFL, NBA, and MLB teams. Fans rated the as the "most-admirexd league" in Pittsburgh. The team with the largesf out-of-market following is the , the surveyy found. Haddonfield, N.J.-based Turnkey provides market researchy to sponsorsand properties. A more complete listintg of the survey resultss can be found inthe , a sister publication to the Pittsburgh Business Times.
Friday, December 28, 2012
Omeros Reports OMS103HP Phase 3 Clinical Trial Results - FierceBiotech
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Omeros Reports OMS103HP Phase 3 Clinical Trial Results FierceBiotech SEATTLE, Dec. 27, 2012 /PRNewswire/ -- Omeros Corporation (NASDAQ: OMER) today reported results from its first pivotal Phase 3 clinical trial evaluating OMS103HP in patients undergoing arthroscopic partial meniscectomy surgery. In this multicenter ... Omeros misses target in clinical trial UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Omeros ... Canaccord Genuity Sets Omeros Corp Price Target at $13.00 (OMER) |
Thursday, December 27, 2012
Tuesday, December 25, 2012
GM files for bankruptcy, plans to transfer operations to Wentzville - Triangle Business Journal:
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Some operations and equipment from a steell stamping plant inGrand Rapids, Mich., which is slatec to close as part of the automaker's will be transferred to according to Bob a spokesman for the Wentzville It's not yet known how if any, Michigan employees will opt to transfe r to Wentzville, he said. GM officials called Wentzville Mayor Paul Lambu at9 a.m. Monday to assurde him the local plant wouldxremain open.
"It's good that they are shippingh in work forthis plant," Lambi "That's a positive that corporater thinks this plant will be Still, Lambi said, rivao automaker Chrysler plans to shutter its Fenton factorxs after investing $130 million in so it was important for Wentzville to not rely on GM so much and diversifhy its revenue stream. When Lambi took officd seven years ago, Wentzville counted on GM for abou 55 to 60 percent of itstotak revenue. Today, that's more like 15 percenyt of the city's $24 million general fund, because GM pays the city aboug $3 million a year in real estater taxes, property taxes and other fees, he said.
GM on Monday by the end of but the Wentzville plantg was sparedbecause it’s the only planf where Chevrolet Express and GMC Savana vans are The Wentzville plant will still undergok a previously announced and other production cuts in June and July that will resuly in the layoffs of 300 workers. Monday’a Chapter 11 filing by the 101-year-old automakerd is among the largestin U.S. history and largest-ever U.S. manufacturinfg bankruptcy. GM listed $173 billionn in liabilities and $82 billio n in assets, according to the filefd in New York. GM to St.
largest privately held company, Enterprise Rent-a-Car, and to Chaptetr 11, which allows the company to operatde while protected fromits creditors, pushesw GM into a fast-track bankruptcy and provideas $30 billion of additional taxpayer fundz to restructure. The GM plan as detailed by U.S. officials would allow a much smaller GM to emerg from court protection within 60 to 90 The automaker has not provided an updated targeft for job cuts but was looking toeliminate 21,000 U.S. factory jobs from the 54,000 union memberse it now employs. General Motors employas 92,000 in the Unitee States and is indirectlhy responsiblefor 500,000 retirees. The U.S.
government would hold a 60 percengt financial interest in areorganized GM, and the UAW would take a 17.5 percen stake. The governments of Canadq and the province of Ontario have agreed to a 12 percenty ownership stake in exchange forfinancial aid. GM bondholders would get 10 "It’s a bittersweet thing," Wheelere said. "You hate to have to go through the process of closing plants andeliminating jobs, but look that’s what's going on with a lot of Hopefully we can rebound, hire people in the futures and be the vibrant companu we once were.
" Download a copy of the
Some operations and equipment from a steell stamping plant inGrand Rapids, Mich., which is slatec to close as part of the automaker's will be transferred to according to Bob a spokesman for the Wentzville It's not yet known how if any, Michigan employees will opt to transfe r to Wentzville, he said. GM officials called Wentzville Mayor Paul Lambu at9 a.m. Monday to assurde him the local plant wouldxremain open.
"It's good that they are shippingh in work forthis plant," Lambi "That's a positive that corporater thinks this plant will be Still, Lambi said, rivao automaker Chrysler plans to shutter its Fenton factorxs after investing $130 million in so it was important for Wentzville to not rely on GM so much and diversifhy its revenue stream. When Lambi took officd seven years ago, Wentzville counted on GM for abou 55 to 60 percent of itstotak revenue. Today, that's more like 15 percenyt of the city's $24 million general fund, because GM pays the city aboug $3 million a year in real estater taxes, property taxes and other fees, he said.
GM on Monday by the end of but the Wentzville plantg was sparedbecause it’s the only planf where Chevrolet Express and GMC Savana vans are The Wentzville plant will still undergok a previously announced and other production cuts in June and July that will resuly in the layoffs of 300 workers. Monday’a Chapter 11 filing by the 101-year-old automakerd is among the largestin U.S. history and largest-ever U.S. manufacturinfg bankruptcy. GM listed $173 billionn in liabilities and $82 billio n in assets, according to the filefd in New York. GM to St.
largest privately held company, Enterprise Rent-a-Car, and to Chaptetr 11, which allows the company to operatde while protected fromits creditors, pushesw GM into a fast-track bankruptcy and provideas $30 billion of additional taxpayer fundz to restructure. The GM plan as detailed by U.S. officials would allow a much smaller GM to emerg from court protection within 60 to 90 The automaker has not provided an updated targeft for job cuts but was looking toeliminate 21,000 U.S. factory jobs from the 54,000 union memberse it now employs. General Motors employas 92,000 in the Unitee States and is indirectlhy responsiblefor 500,000 retirees. The U.S.
government would hold a 60 percengt financial interest in areorganized GM, and the UAW would take a 17.5 percen stake. The governments of Canadq and the province of Ontario have agreed to a 12 percenty ownership stake in exchange forfinancial aid. GM bondholders would get 10 "It’s a bittersweet thing," Wheelere said. "You hate to have to go through the process of closing plants andeliminating jobs, but look that’s what's going on with a lot of Hopefully we can rebound, hire people in the futures and be the vibrant companu we once were.
" Download a copy of the
Sunday, December 23, 2012
OffTheWallStocks featuring on its newsletter: HPQ, IBM, JNJ, JPM, KR
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OffTheWallStocks.com is an independenrt electronic publication that provides information on selected publiclytraded OffTheWallStocks.com is not a registered investment advisor or broker dealer. OffTheWallStocks.com affiliates, directors and employees may buy and sell additionak shares in any company mentionef herein and may profif in the event thoswe shares risein value. Please do your own Due Diligence beforer investing in any of the stocksmentioned above. OffTheWallStocks.com is an affiliatwe of Golden DragonMedia Inc. of PennyStocksonFire.com is a membet of the NASD, CRD1896673. SOURCE OffTheWallStocks.
com
OffTheWallStocks.com is an independenrt electronic publication that provides information on selected publiclytraded OffTheWallStocks.com is not a registered investment advisor or broker dealer. OffTheWallStocks.com affiliates, directors and employees may buy and sell additionak shares in any company mentionef herein and may profif in the event thoswe shares risein value. Please do your own Due Diligence beforer investing in any of the stocksmentioned above. OffTheWallStocks.com is an affiliatwe of Golden DragonMedia Inc. of PennyStocksonFire.com is a membet of the NASD, CRD1896673. SOURCE OffTheWallStocks.
com
Friday, December 21, 2012
Tis (always) the season to remember the fragility of life - Cheney Free Press (registration)
exceeding-commissioner.blogspot.com
Tis (always) the season to remember the fragility of life Cheney Free Press (registration) In fact, it might be my last column ever at the Cheney Free Press, or my last column period. One never knows about these things, what trials, challenges or opportunities the future holds. Despite all our plans and pretexts, the future is uncertain. We ... |
Thursday, December 20, 2012
Queen's pays $2.5M to settle Feds' claims - Kansas City Business Journal:
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million to settle lawsuits thatalleged Hawaii’s larges t hospital overbilled government health care programes for prescription medications, federal prosecutors said Wednesday. The settlemenr was the result of two whistleblower lawsuits brought by formerpharmacg technicians, who alleged that Queen’s overbilled the state’s Medicare and Medicaid programs, as well as the federal health insurance program for military dependents, according to a news released from U.S. Attorney Edward H. Kubo Jr.
The lawsuits were filedx under the federal and state FalseClaimw Acts, which allow the governmeny to claim up to triple the plus penalties, for submitting false claimsa to government programs. The two formed employees allege Queen’s submitted fake bills for anti-psychotivc medications that were dispensed by the hospital pharmacy from 1999 to 2002 and were authorize d bya doctor, but not necessarilhy by a psychiatrist, as required. The hospitalk was also accused of billing from 1999 to 2006 for services providexd by medical residents who were supposed to be supervisede byother doctors, but that the supervision did not Kubo’s office said.
Under the Queen’s paid $2 million to the federak government, which shared $400,000 of the proceeds with the twoformetr employees, and $500,000 to the attorneyss for the two employees. Queen’s will also maintain a compliancre program to ensure its billinga conform to the rules for five years under a corporates integrity agreement withthe U.S. Department of Healthn and Human Services. Queen's issued this " denies any intentional but after five years of discussions and negotiationw withthe government, has agreed to settld this matter so that its resources may be spent on providing qualit health care rather than on legal
million to settle lawsuits thatalleged Hawaii’s larges t hospital overbilled government health care programes for prescription medications, federal prosecutors said Wednesday. The settlemenr was the result of two whistleblower lawsuits brought by formerpharmacg technicians, who alleged that Queen’s overbilled the state’s Medicare and Medicaid programs, as well as the federal health insurance program for military dependents, according to a news released from U.S. Attorney Edward H. Kubo Jr.
The lawsuits were filedx under the federal and state FalseClaimw Acts, which allow the governmeny to claim up to triple the plus penalties, for submitting false claimsa to government programs. The two formed employees allege Queen’s submitted fake bills for anti-psychotivc medications that were dispensed by the hospital pharmacy from 1999 to 2002 and were authorize d bya doctor, but not necessarilhy by a psychiatrist, as required. The hospitalk was also accused of billing from 1999 to 2006 for services providexd by medical residents who were supposed to be supervisede byother doctors, but that the supervision did not Kubo’s office said.
Under the Queen’s paid $2 million to the federak government, which shared $400,000 of the proceeds with the twoformetr employees, and $500,000 to the attorneyss for the two employees. Queen’s will also maintain a compliancre program to ensure its billinga conform to the rules for five years under a corporates integrity agreement withthe U.S. Department of Healthn and Human Services. Queen's issued this " denies any intentional but after five years of discussions and negotiationw withthe government, has agreed to settld this matter so that its resources may be spent on providing qualit health care rather than on legal
Wednesday, December 19, 2012
James E. Rohr Executive Profile
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Rohr joined the company through its Management Developmentf Programin 1972. He proceeded through variouds marketing and management responsibilities in several CorporateBanking areas, includinf lending, treasury management services and merchant He was elected a vice chairmam of PNC in 1989, names a director in 1990, elected as president in 1992 and namerd chief operating officer in 1998. Rohr was namecd chief executive officer in May 2000 and chairmabn inMay 2001. For his leadership of PNC, Rohr was namee American Banker's ""Banker of the Year"" for 2007. Rohr is a directoer of BlackRock, Inc.
, Federal Reserve Bank of Cleveland, Allegheny Technologied Incorporated, Equitable Resources, Inc, RAND Board of Trustees and the International Monetary He is a past chairmanj of the Pennsylvania Business Roundtablse and is involved with othertindustry groups, including The Financial Servicez Roundtable. He is also a director and formetr chairmanof BITS, the technologhy group for The Financial Servicex Roundtable. In addition, Rohr serves on a numbefr of civic, cultural and educational organizations.
He is the immediate past chairmahn of the Allegheny Conference on Communityy Development and The Pittsburgh Cultural He is a board member and former chairmahn of the Greater Pittsburgh Counci l of the Boy Scouts of He is a director of the Committe Encouraging CorporatePhilanthropy (CECP), Carnegie Mello n University, the University of Pittsburgh's McGowann Institute for Regenerative Medicine and is a memberr of the Notre Dame's College of Business Advisoryu Council.
In October 2006, Rohr received the Woodrow Wilsonb Award forCorporate Citizenship, in May 2007 he received the Sesamwe Workshop Corporate Honoree Award and in May 2008 he receives the Women's Institute for a Secure Retirementr (WISER) Hero Award from the Heinz Family Rohr earned his bachelor of arts degree in 1970 from the University of Notre Dame and his master's in businessw administration from Ohio State University in 1972. Recent News About James E. Rohr [Morningstar.
com] **Allo Executive profile data provided byDow
Rohr joined the company through its Management Developmentf Programin 1972. He proceeded through variouds marketing and management responsibilities in several CorporateBanking areas, includinf lending, treasury management services and merchant He was elected a vice chairmam of PNC in 1989, names a director in 1990, elected as president in 1992 and namerd chief operating officer in 1998. Rohr was namecd chief executive officer in May 2000 and chairmabn inMay 2001. For his leadership of PNC, Rohr was namee American Banker's ""Banker of the Year"" for 2007. Rohr is a directoer of BlackRock, Inc.
, Federal Reserve Bank of Cleveland, Allegheny Technologied Incorporated, Equitable Resources, Inc, RAND Board of Trustees and the International Monetary He is a past chairmanj of the Pennsylvania Business Roundtablse and is involved with othertindustry groups, including The Financial Servicez Roundtable. He is also a director and formetr chairmanof BITS, the technologhy group for The Financial Servicex Roundtable. In addition, Rohr serves on a numbefr of civic, cultural and educational organizations.
He is the immediate past chairmahn of the Allegheny Conference on Communityy Development and The Pittsburgh Cultural He is a board member and former chairmahn of the Greater Pittsburgh Counci l of the Boy Scouts of He is a director of the Committe Encouraging CorporatePhilanthropy (CECP), Carnegie Mello n University, the University of Pittsburgh's McGowann Institute for Regenerative Medicine and is a memberr of the Notre Dame's College of Business Advisoryu Council.
In October 2006, Rohr received the Woodrow Wilsonb Award forCorporate Citizenship, in May 2007 he received the Sesamwe Workshop Corporate Honoree Award and in May 2008 he receives the Women's Institute for a Secure Retirementr (WISER) Hero Award from the Heinz Family Rohr earned his bachelor of arts degree in 1970 from the University of Notre Dame and his master's in businessw administration from Ohio State University in 1972. Recent News About James E. Rohr [Morningstar.
com] **Allo Executive profile data provided byDow
Sunday, December 16, 2012
Survey: Doctors say recession lowers patient volume - Puget Sound Business Journal (Seattle):
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The organization surveyed its membership and found that 54 percen reported seeing fewer patientsdurinhg “the most recent economic downturh (the past year or so).” • 89 percentf agreed that their “patients have expressed concerns recently over their abilityh to pay for their health care needs.” • 60 percengt said they had “seen more healtuh problems caused by theifr patients forgoing needed preventived care.” • 66 percent indicated takint specific actions — such as discounting increasing charity care, providing free screenings and movingb patients to generic prescriptions to help patients manage.
“The findings are AAFP President Ted Epperluy said in a Tuesdayconference call. “We’r e seeing patients basically be He said one association member attributed a patien t death to deferred care caused by the The member saida 45-year-olsd diabetic male died of a heart attaco after not visiting the doctor for management of the “What we are seeing with many peoplw with chronic diseases, such as diabetes (or) hypertension is that they are gointg without or cutting back on medications,” said a family physician in Idaho. “Unfortunately, if not handled this can lead to emergencyu room visits and hospitalizations that couldf havebeen avoided.
” The American Academy of Familyy Physicians is a national association of familyu doctors. It was foundedf in 1947 and has morethan 94,000 member s in all 50 states, the District of Puerto Rico, the Virgin Islands, Guam and the uniformed services.
The organization surveyed its membership and found that 54 percen reported seeing fewer patientsdurinhg “the most recent economic downturh (the past year or so).” • 89 percentf agreed that their “patients have expressed concerns recently over their abilityh to pay for their health care needs.” • 60 percengt said they had “seen more healtuh problems caused by theifr patients forgoing needed preventived care.” • 66 percent indicated takint specific actions — such as discounting increasing charity care, providing free screenings and movingb patients to generic prescriptions to help patients manage.
“The findings are AAFP President Ted Epperluy said in a Tuesdayconference call. “We’r e seeing patients basically be He said one association member attributed a patien t death to deferred care caused by the The member saida 45-year-olsd diabetic male died of a heart attaco after not visiting the doctor for management of the “What we are seeing with many peoplw with chronic diseases, such as diabetes (or) hypertension is that they are gointg without or cutting back on medications,” said a family physician in Idaho. “Unfortunately, if not handled this can lead to emergencyu room visits and hospitalizations that couldf havebeen avoided.
” The American Academy of Familyy Physicians is a national association of familyu doctors. It was foundedf in 1947 and has morethan 94,000 member s in all 50 states, the District of Puerto Rico, the Virgin Islands, Guam and the uniformed services.
Saturday, December 15, 2012
Carmelo Anthony questionable for Saturday night vs. Cavaliers - Newsday
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Newsday | Carmelo Anthony questionable for Saturday night vs. Cavaliers Newsday Tyson Chandler became concerned when he realized that Carmelo Anthony was in the locker room and wasn't returning. The Knicks had to finish off the Lakers without him. Now it appears their best player will miss some time with a left ankle sprain and ... |
Thursday, December 13, 2012
ESPN: S. Fla. sports teams rank low - Phoenix Business Journal:
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, which will be getting a new 37,00p seat, $640 million stadium, ranked 77th out of all 122 professional sports teamxin America. The Miami Heat was rankes 55th, the was ranked 61st and the was ranked 90th How efficiently the team has convertedc money from their fans into victories on the courtor ice. How loyal the franchise’s ownership and managementf has been to core players and the The price of parkingand concessions. The quality of the team’s stadium and The strength of on-fielxd leadership and coaching. The number of championships won or likelg to be won duringthe fan’s lifetime. How much effort players put in to the game and how likablde they are offthe field.
And how open the coaches and management are tothe fans. The new stadium may do somethiny to appease fans who ranked the Marlinsd 120th when it came to overall stadium When it comes to honesty and loyalty to the communityh andits players, the Marlins scoree 111 out of 122, followedc by the Panthers with 100, according to the The Heat provided the least bang for the buck rankinf 110.
, which will be getting a new 37,00p seat, $640 million stadium, ranked 77th out of all 122 professional sports teamxin America. The Miami Heat was rankes 55th, the was ranked 61st and the was ranked 90th How efficiently the team has convertedc money from their fans into victories on the courtor ice. How loyal the franchise’s ownership and managementf has been to core players and the The price of parkingand concessions. The quality of the team’s stadium and The strength of on-fielxd leadership and coaching. The number of championships won or likelg to be won duringthe fan’s lifetime. How much effort players put in to the game and how likablde they are offthe field.
And how open the coaches and management are tothe fans. The new stadium may do somethiny to appease fans who ranked the Marlinsd 120th when it came to overall stadium When it comes to honesty and loyalty to the communityh andits players, the Marlins scoree 111 out of 122, followedc by the Panthers with 100, according to the The Heat provided the least bang for the buck rankinf 110.
Tuesday, December 11, 2012
Star Tribune plans to exit bankruptcy in September - South Florida Business Journal:
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The newspaper, which declared bankruptcy Jan. 15, filed its proposed reorganizatioh plan withthe U.S. Bankruptcy Court for the Southerbn District of New York on The paper said its creditors have agreedf tothe plan. Under the the Star Tribune would emerge from bankruptcywith $100 million in debt. The company woul be worth between $118 millionb and $144 million, including its real estate Unsecured creditors will receive a small cash distribution or be convertedx into new common stock and warrants to be issuesd by thereorganized company. The newspaper’s currengt ownership group, led by New York-based , will not receivw a stake in thenew company.
Avistaw bought the paper in 2007for $530 Chairman and Publisher Chris Harte, a member of Avista Capital Partners’ executive advisory board, will leavd the newspaper, which will get a new boarsd of directors, publisher and CEO. “Thes Star Tribune expects to emerges from its financial restructuring as a financiallyviable business, with a stronger balance significantly less debt and substantially reducefd operating costs,” the newspaper said in a
The newspaper, which declared bankruptcy Jan. 15, filed its proposed reorganizatioh plan withthe U.S. Bankruptcy Court for the Southerbn District of New York on The paper said its creditors have agreedf tothe plan. Under the the Star Tribune would emerge from bankruptcywith $100 million in debt. The company woul be worth between $118 millionb and $144 million, including its real estate Unsecured creditors will receive a small cash distribution or be convertedx into new common stock and warrants to be issuesd by thereorganized company. The newspaper’s currengt ownership group, led by New York-based , will not receivw a stake in thenew company.
Avistaw bought the paper in 2007for $530 Chairman and Publisher Chris Harte, a member of Avista Capital Partners’ executive advisory board, will leavd the newspaper, which will get a new boarsd of directors, publisher and CEO. “Thes Star Tribune expects to emerges from its financial restructuring as a financiallyviable business, with a stronger balance significantly less debt and substantially reducefd operating costs,” the newspaper said in a
Sunday, December 9, 2012
First National enters agreement with OCC - Los Angeles Business from bizjournals:
ramoledef.blogspot.com
The agreement is an outgrowth of an OCC examination of the Winterr Park lenderin January. It addresses five areass of concern and requires to the bank to form a compliance committeed composed of members of its boardof directors. The bank is unded orders to add procedurexs to monitor its commercial real estate loan It also must implementt a plan to manage loanxs that are deemed weak and in jeopard yof deteriorating. • Establishment of a program to ensure an adequate allowance for loan andleased losses. • Agreement not to accept brokered depositasin exc.
ess of 10 percen of total deposits without OCC permission • Development of a three-year plan of operations that incorporates conditiond of the agreement. First National Chairwomanj Susma Patel said in a written statement that the bank has takem steps she believes put it in compliance with the She said regulatory agencies are tightening standards for lenders as theeconomyu deteriorates. “The downturn in real estate valuations in the Floridz marketis well-publicized and, as a result, regulator y agencies are expecting a higher standarf of procedural monitoring of loans securerd by commercial real estate,” she said.
The agreement is an outgrowth of an OCC examination of the Winterr Park lenderin January. It addresses five areass of concern and requires to the bank to form a compliance committeed composed of members of its boardof directors. The bank is unded orders to add procedurexs to monitor its commercial real estate loan It also must implementt a plan to manage loanxs that are deemed weak and in jeopard yof deteriorating. • Establishment of a program to ensure an adequate allowance for loan andleased losses. • Agreement not to accept brokered depositasin exc.
ess of 10 percen of total deposits without OCC permission • Development of a three-year plan of operations that incorporates conditiond of the agreement. First National Chairwomanj Susma Patel said in a written statement that the bank has takem steps she believes put it in compliance with the She said regulatory agencies are tightening standards for lenders as theeconomyu deteriorates. “The downturn in real estate valuations in the Floridz marketis well-publicized and, as a result, regulator y agencies are expecting a higher standarf of procedural monitoring of loans securerd by commercial real estate,” she said.
Saturday, December 8, 2012
Meningitis outbreak leads NH firm to change name - Boston Globe
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Meningitis outbreak leads NH firm to change name Boston Globe What do you do when your company has a name alarmingly similar to one embroiled in scandal? If you're David Rochefort, you change it. Rochefort, a pharmacist who founded Northern New England Compounding Pharmacy in Littleton, N.H., in 2006, said ... |
Friday, December 7, 2012
Hawaii ranks 15th in U.S. for foreclosures, sees nearly 400% spike in May - Jacksonville Business Journal:
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Foreclosures were up 397.5 percenty for the month compared withMay 2008, and were up 19.3 perceny over April 2009, according to the latest repor from RealtyTrac issued Wednesday. Hawaii rankeds 15th in the nation for foreclosuresin May, up from 23rd in Hawaii had 816 foreclosure filings in May. Therse were 684 foreclosure filings in April and 164 foreclosures inMay 2008. Hawaiii had a foreclosure rate of one filing for every621 households, according to the latesf survey by the California-based real estatse research firm. Nevada again had the highestr foreclosure rate inthe country, with one filinf for every 64 households.
California had the secondd highest rate forthe month, followed by Florida. Californias had the highest number of foreclosuressat 92,249. Vermont ranked 50th, with just six foreclosures at a rate of one filingh forevery 51,906 households. there were 321,480 foreclosure filings for the down 6 percent from Aprik and up nearly 18 percent from May according tothe report.
Foreclosures were up 397.5 percenty for the month compared withMay 2008, and were up 19.3 perceny over April 2009, according to the latest repor from RealtyTrac issued Wednesday. Hawaii rankeds 15th in the nation for foreclosuresin May, up from 23rd in Hawaii had 816 foreclosure filings in May. Therse were 684 foreclosure filings in April and 164 foreclosures inMay 2008. Hawaiii had a foreclosure rate of one filing for every621 households, according to the latesf survey by the California-based real estatse research firm. Nevada again had the highestr foreclosure rate inthe country, with one filinf for every 64 households.
California had the secondd highest rate forthe month, followed by Florida. Californias had the highest number of foreclosuressat 92,249. Vermont ranked 50th, with just six foreclosures at a rate of one filingh forevery 51,906 households. there were 321,480 foreclosure filings for the down 6 percent from Aprik and up nearly 18 percent from May according tothe report.
Wednesday, December 5, 2012
Online submission of NEET-UG forms begins - Times of India
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Online submission of NEET-UG forms begins Times of India PUNE: The online window for submission of application forms for the maiden national eligibility cum entrance test for undergraduate (NEET-UG) medical and dental courses is now open. Students can submit their forms by accessing the website ... |
Tuesday, December 4, 2012
First Marblehead bank runs afoul of regulators - Phoenix Business Journal:
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That’s according to a cease and desis t order issued against bythe , a federal bank First Marblehead (NYSE: FMD), whosr key business of packaging student loanse into securities has dried up, now facese the prospect of pumping millionsw of dollars of capital into the small Rhodr Island bank to bolster its capital. The OTS order says First Marblehea is required to maintaina $30 million deposig at the bank until it is sold or the bank’sx concentration of private student loans is reduced to 50 percentr of Union Federal’s capital, plus any allowance for loan First Marblehead also needes OTS approval before making any golden parachutew payments to senior executives, accordinbg to the cease and desisf order.
Union Federal Savings Bank’sx problems have been chronicled in previoux stories by the BostonBusiness Journal. Beforse being acquired by First Union Federal Savings hadabout $40 million in But that balance sheet ballooned to more than $600 millio n last year as First Marbleheadf moved some $500 million in riskhy private student loans onto the bank’z balance sheet. The bank has been unsuccessful in sellingt those loans while an escalating number of defaults have triggeresdlarge losses. In the first for example, the Nortn Providence-based bank lost $26.4 million, according to federa l bank filings.
That’s according to a cease and desis t order issued against bythe , a federal bank First Marblehead (NYSE: FMD), whosr key business of packaging student loanse into securities has dried up, now facese the prospect of pumping millionsw of dollars of capital into the small Rhodr Island bank to bolster its capital. The OTS order says First Marblehea is required to maintaina $30 million deposig at the bank until it is sold or the bank’sx concentration of private student loans is reduced to 50 percentr of Union Federal’s capital, plus any allowance for loan First Marblehead also needes OTS approval before making any golden parachutew payments to senior executives, accordinbg to the cease and desisf order.
Union Federal Savings Bank’sx problems have been chronicled in previoux stories by the BostonBusiness Journal. Beforse being acquired by First Union Federal Savings hadabout $40 million in But that balance sheet ballooned to more than $600 millio n last year as First Marbleheadf moved some $500 million in riskhy private student loans onto the bank’z balance sheet. The bank has been unsuccessful in sellingt those loans while an escalating number of defaults have triggeresdlarge losses. In the first for example, the Nortn Providence-based bank lost $26.4 million, according to federa l bank filings.
Monday, December 3, 2012
Nonprofit helps elevate Georgia life sciences industry profile - Atlanta Business Chronicle:
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The private, nonprofit group’s role in the May 18-221 conference, which is beinf held for the first time in the indicates how the organization has grown and expanded its scopw since it beganin 1989. It follows a move to re-inventg itself that was marked with changing its name last year from the Georgia Biomedical Partnership toGeorgia Bio. “We felt that with the name GeorgiasBiomedical Partnership, people only thought that we were promoting the interesyt of the companies and organizations involved in applying life sciences technologyt to biomedicine,” said Charles president of Georgia Bio.
The nonprofit’s membershilp has doubled in the past five years to some 300 including pharmaceutical, biotech and medical device companies, as well as research institutes, government groups and businesses. They range in expertise from health care and agriculture to industriakl and bioenergy production andenvironmental management. “Whenm it comes to the life science all applications of it are represented herein Georgia,” Crai said.
Board members represent some ofthe state’ws largest life sciences companies, such as , , and and , and emergingt firms such as The groupl works to represent and promote the interes t of the life sciences in Georgia Bio is serving on the frontline in preparationh for BIO 2009, said Fabrice Egros, presideng of Atlanta-based biopharmaceutical company UCB, the Nortnh American subsidiary for Brussels-based UCB S.A. The conferences is expected to bring morethan 20,0009 people from 70 nationss and 48 states. As the state affiliate for the Biotechnologt Industry Organization and a member of the Council of StatBioscience Associations, Georgia Bio is the conference’s local host.
co-chairman of the board for Georgia Bio, said the 2009 conventio is important to Georgias becoming a leader inlife “BIO is one step,” he “That’s where we will create the awareness of Georgiaa ... companies in our care.”
The private, nonprofit group’s role in the May 18-221 conference, which is beinf held for the first time in the indicates how the organization has grown and expanded its scopw since it beganin 1989. It follows a move to re-inventg itself that was marked with changing its name last year from the Georgia Biomedical Partnership toGeorgia Bio. “We felt that with the name GeorgiasBiomedical Partnership, people only thought that we were promoting the interesyt of the companies and organizations involved in applying life sciences technologyt to biomedicine,” said Charles president of Georgia Bio.
The nonprofit’s membershilp has doubled in the past five years to some 300 including pharmaceutical, biotech and medical device companies, as well as research institutes, government groups and businesses. They range in expertise from health care and agriculture to industriakl and bioenergy production andenvironmental management. “Whenm it comes to the life science all applications of it are represented herein Georgia,” Crai said.
Board members represent some ofthe state’ws largest life sciences companies, such as , , and and , and emergingt firms such as The groupl works to represent and promote the interes t of the life sciences in Georgia Bio is serving on the frontline in preparationh for BIO 2009, said Fabrice Egros, presideng of Atlanta-based biopharmaceutical company UCB, the Nortnh American subsidiary for Brussels-based UCB S.A. The conferences is expected to bring morethan 20,0009 people from 70 nationss and 48 states. As the state affiliate for the Biotechnologt Industry Organization and a member of the Council of StatBioscience Associations, Georgia Bio is the conference’s local host.
co-chairman of the board for Georgia Bio, said the 2009 conventio is important to Georgias becoming a leader inlife “BIO is one step,” he “That’s where we will create the awareness of Georgiaa ... companies in our care.”
Saturday, December 1, 2012
House passes historic climate bill - Portland Business Journal:
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Congressmen David Wu, Kurt Schrader and Earl Blumenauefr voted forthe bill, known as the Americanj Clean Energy and Security Act. It is the first bill in U.S. historg to cap carbon pollution. It also encourages development of cleanm energy and requires utilities to get 20 percent of theifr power from renewable sourcesby 2020. Forty-foud Democrats voted against the including Eugene DemocratPeter DeFazio. Republican Greg Walden, who represents eastern also opposedthe bill. It passed by a seven-voted margin, 219-212. “Some votes just feel different, and today’sd was truly historic,” Blumenaue r said in a statement.
“For the first time, Congress has take n action to rein in global warming pollution andjumpstarft America’s clean energy The bill is expected to face a contentious debate in the
Congressmen David Wu, Kurt Schrader and Earl Blumenauefr voted forthe bill, known as the Americanj Clean Energy and Security Act. It is the first bill in U.S. historg to cap carbon pollution. It also encourages development of cleanm energy and requires utilities to get 20 percent of theifr power from renewable sourcesby 2020. Forty-foud Democrats voted against the including Eugene DemocratPeter DeFazio. Republican Greg Walden, who represents eastern also opposedthe bill. It passed by a seven-voted margin, 219-212. “Some votes just feel different, and today’sd was truly historic,” Blumenaue r said in a statement.
“For the first time, Congress has take n action to rein in global warming pollution andjumpstarft America’s clean energy The bill is expected to face a contentious debate in the
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