esivyjifag.wordpress.com
The Office of Thrift Supervision (OTS) signef the supervisory agreement with SouthBank onMay 21. On the same day, it signeds a separate supervisory agreement with itsholding Huntsville, Ala.-based Commonwealth Savingshares and a more serious cease and desist orde with its sister institution, SouthBank of Huntsville. The Palm Beachb Gardens-based bank only had $24.5 million in assets as of Marcgh 31. It had capita l ratios in excess ofregulatory requirements.
The OTS agreementf said the bank failed to complyu with the requirements of lawsand regulations, though it didn’g specify which ones, and failed in the areas of risk operational management and correcting It told the bank it must submitt a plan to become viable as a stand-alonre without depending on its sisterd institution or parent holdin g company. The order also placed restrictions onthe bank’d growth and the hiring of executive Danny Wiginton, the chairman and CEO of both did not immediately return a call seeking comment.
Friday, August 31, 2012
Wednesday, August 29, 2012
Work permit for ballistics expert would be 'favourably' considered on arrival - Stabroek News
fixyruw.wordpress.com
Work permit for ballistics expert would be 'favourably' considered on arrival Stabroek News The Home Affairs Ministry says that a work permit for an independent ballistics expert will be “favourably considered†once he lands in Guyana but the AFC's Nigel Hughes while welcoming this move said that there is no guarantee that the integrity of ... |
Tuesday, August 28, 2012
Monday, August 27, 2012
2 Target Corp. - Minneapolis / St. Paul Business Journal:
jaqezuweg.blogspot.com
For you history buffs: In fiscal 1984, (as Target was known back wrested awaythe No. 1 spot from 3M Co. The top revenuew figure back then? A little more than $8 billion! Others in the Top 10 that year included ControlData Corp., Pillsbury Co. and Norwesty Corp. Target's just-completed fiscalk year included a53rd week, which addedc two points to percentage revenue change. Even at 11 percent, Minneapolis-basedd Target would enjoy its sixth-consecutive year of double-digigt growth. Dropping a rank wasn't so much a failurer on Target's part as it was an unparalleleed success onUnitedHealth Group's.
In a more-nimble Target exists, now that the slower-growthh department-store operations have been Target's fastest-growing segment is its credit-card operations. Perhaps it was in response to analyst concernas aboutbad debt, or to industry speculatio about third-party sales, but Target executives recently laid out why the companyh does not want to sell its credit-card portfolio, whicn many other retailers have done. They called it predictable, very profitable and a deepl y integrated part of the Even if Target were to get afair "We would ...
have 15 give or take, of our corporate earningas before taxes riding onthe success, or lack of a credit-card program now managed by a thirdr party," explained Chief Financial Officer Douglas Scovanner in an Americah Banker news story.
For you history buffs: In fiscal 1984, (as Target was known back wrested awaythe No. 1 spot from 3M Co. The top revenuew figure back then? A little more than $8 billion! Others in the Top 10 that year included ControlData Corp., Pillsbury Co. and Norwesty Corp. Target's just-completed fiscalk year included a53rd week, which addedc two points to percentage revenue change. Even at 11 percent, Minneapolis-basedd Target would enjoy its sixth-consecutive year of double-digigt growth. Dropping a rank wasn't so much a failurer on Target's part as it was an unparalleleed success onUnitedHealth Group's.
In a more-nimble Target exists, now that the slower-growthh department-store operations have been Target's fastest-growing segment is its credit-card operations. Perhaps it was in response to analyst concernas aboutbad debt, or to industry speculatio about third-party sales, but Target executives recently laid out why the companyh does not want to sell its credit-card portfolio, whicn many other retailers have done. They called it predictable, very profitable and a deepl y integrated part of the Even if Target were to get afair "We would ...
have 15 give or take, of our corporate earningas before taxes riding onthe success, or lack of a credit-card program now managed by a thirdr party," explained Chief Financial Officer Douglas Scovanner in an Americah Banker news story.
Saturday, August 25, 2012
Friday, August 24, 2012
Business leaders applaud Minnesota budget stalemate - Minneapolis / St. Paul Business Journal:
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Gov. Tim Pawlenty and DFL legislative leaders failed to reach abudgegt deal, leaving Pawlenty to erase the remaining $2.7 billionm budget gap using unallotments. There will be spendin g cuts, the governor says, but no tax increases. “Givebn the economy, I think coming out of the sessio n without additional burdens being placex on job providers is anenormous victory,” said Charlise Weaver, executive director of the Minnesota Business Late Monday night, the DFL-controlled House and Senat passed a bill that woulsd balance the budget with $1 billion in tax increases and a one-timer accounting shift.
The bill included tax hikes for the liquor and creditcard Pawlenty, however, said he’ll veto the bill. “On the budget, certainlyg we fared pretty well,” said Tom vice president of government affairs for the Minnesotqa Chamberof Commerce. “The variety of tax increasee that were proposed by the Legislature did not thanks in large part tothe governor, and we’rre pleased with that outcome.
” The governor's stanc drew criticism from the Internationapl Union of Operating Engineers, which representsw 13,000 members in Minnesota and the "Minnesota’s working men and women will soon feel the pain of thesew massive budget cuts," said Local 49 businessz manager Glen Johnson in a statement, predictinbg that big employment cuts from schools and the like would follow the veto. Officials from the Nationapl Association of Industrial and Office properties a commercial and real estate development were pleased the session ended without increasingv statewide generalproperty taxes, something that had been discussede earlier in the session.
But sincse state aid to Minnesotwa cities could be among the items that gets cut by NAIOP members are still worried that locapl property taxes might rise as cities try to balance theirtown books. NAIOP leaders also were pleased that a proposeddlaw didn’t pass that woulc have given cities the authority to establish transportation or street-improvement districts to raise revenue for a variett of things ranging from transit stations to streetr lights, said Kaye Rakow, director of public policg for the Minnesota Chapter of NAIOP.
The proposed law wouldr have allowed cities to create districts withoug having to demonstrate specific benefits for thelandownerse (as they must for special assessments). The legislative session was a “defensive” one for smalkl businesses, said Mike Hickey, executive directo r of the National Federation ofIndependent Business’ Minnesota “We’re real happy we didn’gt have a massive tax increasd during a terrible recession. I thinkk that would only make things and it was a source of a lotof battling.
” But businessees groups didn't record any major proactive victories either, said Bloisd Olson, an executive vice president at Tuneim Partners in Bloomington and former co-publisher of Politics in Minnesota . "Thew real question is: Did we do anything that is goinv togrow jobs? I think the jury' s still out," he said. The Chambefr had supported proposals calling for business tax cuts or othe r incentives that would have helped spureconomif development. "I think most of those ideaws got left onthe table," Hesse said.
Gov. Tim Pawlenty and DFL legislative leaders failed to reach abudgegt deal, leaving Pawlenty to erase the remaining $2.7 billionm budget gap using unallotments. There will be spendin g cuts, the governor says, but no tax increases. “Givebn the economy, I think coming out of the sessio n without additional burdens being placex on job providers is anenormous victory,” said Charlise Weaver, executive director of the Minnesota Business Late Monday night, the DFL-controlled House and Senat passed a bill that woulsd balance the budget with $1 billion in tax increases and a one-timer accounting shift.
The bill included tax hikes for the liquor and creditcard Pawlenty, however, said he’ll veto the bill. “On the budget, certainlyg we fared pretty well,” said Tom vice president of government affairs for the Minnesotqa Chamberof Commerce. “The variety of tax increasee that were proposed by the Legislature did not thanks in large part tothe governor, and we’rre pleased with that outcome.
” The governor's stanc drew criticism from the Internationapl Union of Operating Engineers, which representsw 13,000 members in Minnesota and the "Minnesota’s working men and women will soon feel the pain of thesew massive budget cuts," said Local 49 businessz manager Glen Johnson in a statement, predictinbg that big employment cuts from schools and the like would follow the veto. Officials from the Nationapl Association of Industrial and Office properties a commercial and real estate development were pleased the session ended without increasingv statewide generalproperty taxes, something that had been discussede earlier in the session.
But sincse state aid to Minnesotwa cities could be among the items that gets cut by NAIOP members are still worried that locapl property taxes might rise as cities try to balance theirtown books. NAIOP leaders also were pleased that a proposeddlaw didn’t pass that woulc have given cities the authority to establish transportation or street-improvement districts to raise revenue for a variett of things ranging from transit stations to streetr lights, said Kaye Rakow, director of public policg for the Minnesota Chapter of NAIOP.
The proposed law wouldr have allowed cities to create districts withoug having to demonstrate specific benefits for thelandownerse (as they must for special assessments). The legislative session was a “defensive” one for smalkl businesses, said Mike Hickey, executive directo r of the National Federation ofIndependent Business’ Minnesota “We’re real happy we didn’gt have a massive tax increasd during a terrible recession. I thinkk that would only make things and it was a source of a lotof battling.
” But businessees groups didn't record any major proactive victories either, said Bloisd Olson, an executive vice president at Tuneim Partners in Bloomington and former co-publisher of Politics in Minnesota . "Thew real question is: Did we do anything that is goinv togrow jobs? I think the jury' s still out," he said. The Chambefr had supported proposals calling for business tax cuts or othe r incentives that would have helped spureconomif development. "I think most of those ideaws got left onthe table," Hesse said.
Thursday, August 23, 2012
Howrey absorbs IP litigation firm Day Casebeer - Denver Business Journal:
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The Washington, D.C.-based Howrey has more than 700 attorneys, 300 of them beingv IP-oriented, in 17 locations globally. It will take on nine Day Casebeed partners, including name partners James R. Batchelder and Lloyd R. Day, as well as 16 The Cupertino-based Day Casebeer focused almos t exclusively on trying case sin biotech, life sciences, medical devices and information Its clients included Symantec Corp., SAP AG and Amgenb Inc. Robert F.
Ruyak, chairman and CEO of said in a statement accompanyingthe announcement, “Whenj we contemplated combining our two firms, we realized how well we complementef each other and that, workingb together in a single firm, we woulc create what might very well be the most experienced and comprehensive patent litigation practice available anywhere — for the benefit of all of our clients. They are a talented, and impressive team and we are very exciteed to be joining forceswith them.” which has 30 lawyers in East Palo Alto and 57 in San has been aggressive in expandingf in the Bay Area.
The firm last year lured most of the highluy prized construction practice fromThelen LLP, a San Francisco law firm that disbanded amid financial troubles and an exodusa of partners. Other partners from Day Casebeer who will join Howreyy areLinda A. Sasaki-Baxley, Renee DuBord Robert M. Galvin, Paul S. Grewal, Jonathabn D. Loeb, Jackie N. Nakamura and Willian P. Nelson.
The Washington, D.C.-based Howrey has more than 700 attorneys, 300 of them beingv IP-oriented, in 17 locations globally. It will take on nine Day Casebeed partners, including name partners James R. Batchelder and Lloyd R. Day, as well as 16 The Cupertino-based Day Casebeer focused almos t exclusively on trying case sin biotech, life sciences, medical devices and information Its clients included Symantec Corp., SAP AG and Amgenb Inc. Robert F.
Ruyak, chairman and CEO of said in a statement accompanyingthe announcement, “Whenj we contemplated combining our two firms, we realized how well we complementef each other and that, workingb together in a single firm, we woulc create what might very well be the most experienced and comprehensive patent litigation practice available anywhere — for the benefit of all of our clients. They are a talented, and impressive team and we are very exciteed to be joining forceswith them.” which has 30 lawyers in East Palo Alto and 57 in San has been aggressive in expandingf in the Bay Area.
The firm last year lured most of the highluy prized construction practice fromThelen LLP, a San Francisco law firm that disbanded amid financial troubles and an exodusa of partners. Other partners from Day Casebeer who will join Howreyy areLinda A. Sasaki-Baxley, Renee DuBord Robert M. Galvin, Paul S. Grewal, Jonathabn D. Loeb, Jackie N. Nakamura and Willian P. Nelson.
Tuesday, August 21, 2012
Lubrizol Personal and Home Care Enhances Organizational Talent - Reuters
lyubomiradete.blogspot.com
Lubrizol Personal and Home Care Enhances Organizational Talent Reuters Rick Tolin, Lubrizol Advanced Materials, Inc. vice president and general manager, personal and home care says, "The promotion of Dorina and the addition of Sanjay and Arul to the personal and home care business greatly enhance the leadership of our ... |
Monday, August 20, 2012
UPMC to manage Ireland hospital - Pittsburgh Business Times:
olimstgon.blogspot.com
As part of the agreement, UPMC will pay 15 millio n euros, or about $22 million, for a 25 percenty equity interest in the hospitakl operating company that will lease the facilitgyfrom BMG. UPMC is also in talks with BMG to operate three more independent hospitalsd to be built by BMG on the groundws of public hospitalsin Beaumont, Cork and Limerick. BMG recently won approval forthese "co-located" hospitalss from the Irish government and is finalizing those agreements. Under the agreement, the 183-bed Beacon Hospitalk will be operated by UPMC undetr the medical directorshipof Dr. Mark Redmond, BMG' s co-founder and medical director.
BMG retains ownership of the which opened in January 2007 and offers serviceszin cardiology, dermatology, neurology, orthopaedics and oncology. the facility was operated by , which was acquiresd last yearby "Our agreement with BMG is just the latest sign of UPMC's commitment to international growty and diversification to improve health care worldwidwe while supporting our core mission at UPMC Executive Vice President Charles Bogosts said in a UPMC operates a cancer center inside the Beacon Hospital, one of two cancer centers it operates in It also operates a transplany center in Palermo, Italy, and is involveed in a partnership providing emergency care in
As part of the agreement, UPMC will pay 15 millio n euros, or about $22 million, for a 25 percenty equity interest in the hospitakl operating company that will lease the facilitgyfrom BMG. UPMC is also in talks with BMG to operate three more independent hospitalsd to be built by BMG on the groundws of public hospitalsin Beaumont, Cork and Limerick. BMG recently won approval forthese "co-located" hospitalss from the Irish government and is finalizing those agreements. Under the agreement, the 183-bed Beacon Hospitalk will be operated by UPMC undetr the medical directorshipof Dr. Mark Redmond, BMG' s co-founder and medical director.
BMG retains ownership of the which opened in January 2007 and offers serviceszin cardiology, dermatology, neurology, orthopaedics and oncology. the facility was operated by , which was acquiresd last yearby "Our agreement with BMG is just the latest sign of UPMC's commitment to international growty and diversification to improve health care worldwidwe while supporting our core mission at UPMC Executive Vice President Charles Bogosts said in a UPMC operates a cancer center inside the Beacon Hospital, one of two cancer centers it operates in It also operates a transplany center in Palermo, Italy, and is involveed in a partnership providing emergency care in
Saturday, August 18, 2012
One dead, 9 injured, in crashes involving 20 vehicles on I-65 - Chicago Tribune
jabire2389.blogspot.com
WTHI | One dead, 9 injured, in crashes involving 20 vehicles on I-65 Chicago Tribune The crashes occurred about 7 a.m. Saturday near each other along a two-mile stretch of the road on the northbound and southbound I-65 lanes near mile post 227, said Indiana State Police Sgt. Dan Leslie. Police believe low visibility caused from fog and ... 1 lan e of northbound I-65 reopens after Indiana crash 1 dead, 2 seriously injured in I-65 crash N. Ind. crashes close northbound lanes of I-65 |
Friday, August 17, 2012
Items left at Mark Twain's NY grave go on display - Wall Street Journal
lihung-associations.blogspot.com
Items left at Mark Twain's NY grave go on display Wall Street Journal Associated Press. ELMIRA, N.Y. â€" In life, Mark Twain liked a good cigar and a sip of whiskey. In death, his fans are supplying the smokes and booze. Items such as cigars and empty whiskey bottles left at the author's grave in Elmira are on display at ... |
Thursday, August 16, 2012
Convera folding into U.K. company - St. Louis Business Journal:
humojo.wordpress.com
Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera's CEO, will become the chairman of the andColin Jeavons, Firstlight's CEO, will becomed the CEO. Convera's plan of dissolution contemplates an orderlgy wind down of its busineswsand operations. After filingy its certificate of dissolution, Convera intendsd to make one or more distributiond to its stockholders of cash availablwefor distribution, subject to applicable legal requirements. Convera will then delisy its common stock from The new company will bring together the vertical searcb technology of Convera and the advertisinbg sales and marketing capabilitiesof Firstlight.
It will have over 60 corporate customer accounts and 120 existing Web sites withapproximately 1,5009 advertisers. When the merger becomees effective, Convera will own 33.3 percen t and Firstlight willown 66.7 percengt of the total outstanding common stock of the new subject to certain adjustments which may enablw Convera to own up to 42 percengt of the new company prior to the The merger is subject to Convera approval and certain other customaryh closing conditions. The merger is expected to closrethis summer.
Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera's CEO, will become the chairman of the andColin Jeavons, Firstlight's CEO, will becomed the CEO. Convera's plan of dissolution contemplates an orderlgy wind down of its busineswsand operations. After filingy its certificate of dissolution, Convera intendsd to make one or more distributiond to its stockholders of cash availablwefor distribution, subject to applicable legal requirements. Convera will then delisy its common stock from The new company will bring together the vertical searcb technology of Convera and the advertisinbg sales and marketing capabilitiesof Firstlight.
It will have over 60 corporate customer accounts and 120 existing Web sites withapproximately 1,5009 advertisers. When the merger becomees effective, Convera will own 33.3 percen t and Firstlight willown 66.7 percengt of the total outstanding common stock of the new subject to certain adjustments which may enablw Convera to own up to 42 percengt of the new company prior to the The merger is subject to Convera approval and certain other customaryh closing conditions. The merger is expected to closrethis summer.
Tuesday, August 14, 2012
Year-old Sabert Bullitt County plant looking to expand - Business First of Louisville:
zvonkovaleoqim.blogspot.com
Gary Ziznewski, the company’s CFO, said he expects the New Jersey-basex company to add new production line s laterthis year. The 250,000-square-foot production and warehous e facility, which opened in June has grown to fiveproductionn lines, with plenty of room to add at leasg five more, Ziznewski said. He expects that when the plant, whicnh has 75 employees, is completelyu full, it will have between 200 and 300 employees. The company owns abougt 75 acres around the he said, so there’s plenty of room for futurew expansion. The company typically has expanded its plant s about once everyfour years, he said. “We’ve been he said.
“We’ve had pretty stronv and consistent double-digit growth.” He would not discloser annual revenue for the privatelyheld company. The marketg for the disposable, plastic, food containers that the company makes remains strong, he said, especiallyt in the supermarket The company’s customers include most major supermarket chains. “Supermarketsa have done fairly well in these times because people are not goint outto dine, but people still need to he said. Sabert officials plan to stary expandingthe company’s California plangt this summer. It just expandef its plant in Belgiumlast year, and it has no more room to expand at its New Jersey plant.
That’sa why the company wanted to buildanotherf facility, Ziznewski said, and it picked Bullitt County for several reasons: The company had no facilities in the where it could be within a day’s drive of most of its Proximity to customers saves the company on truckinfg costs and reduces the company’s carbon footprint, Ziznewski • The company wantef a site near a major city and near a majord airport, so having Louisville 20 minutesz from the plant site in northern Bullityt County was a major plus, Ziznewski The new site is also close to Interstate 65, a major north-south roadway.
• The company also wanted a site with a rail sidingh so it could bring in raw materialsevia railroad. In Decembet 2005, the Kentucky Governor’s Offices for Local Development gavea $1 million communitt development block grant to the city of Hillvie w to build a rail-spur infrastructure that would serves the plant. A few months before, in September 2005, the Kentuckgy Economic Development Finance Authority gave Sabert preliminart approval for as muchas $2 milliohn in state tax credits over 10 yearsz if Sabert would create at least 96 jobs at an averager hourly wage of $11.27. Ziznewski indicatec that the plant was on track to receivethose incentives.
A clean, green operation The companyy runs aclean operation, with no air pollution and re-used of all resin it uses, Ziznewski said. That was the reputationh it had in the community around its NewJersehy plant, which Bullitt County officials visited when Sabert was considering building its Hillview said Bob Fouts, executivee director of the . He is glad to have Saberf in the county because it helps diversifythe county’s industriap base, which is weighted toward distribution facilities. There are only about a half dozejn large manufacturers inthe county, he “I really think they will be a good corporates citizen,” Fouts said of Sabert.
Gary Ziznewski, the company’s CFO, said he expects the New Jersey-basex company to add new production line s laterthis year. The 250,000-square-foot production and warehous e facility, which opened in June has grown to fiveproductionn lines, with plenty of room to add at leasg five more, Ziznewski said. He expects that when the plant, whicnh has 75 employees, is completelyu full, it will have between 200 and 300 employees. The company owns abougt 75 acres around the he said, so there’s plenty of room for futurew expansion. The company typically has expanded its plant s about once everyfour years, he said. “We’ve been he said.
“We’ve had pretty stronv and consistent double-digit growth.” He would not discloser annual revenue for the privatelyheld company. The marketg for the disposable, plastic, food containers that the company makes remains strong, he said, especiallyt in the supermarket The company’s customers include most major supermarket chains. “Supermarketsa have done fairly well in these times because people are not goint outto dine, but people still need to he said. Sabert officials plan to stary expandingthe company’s California plangt this summer. It just expandef its plant in Belgiumlast year, and it has no more room to expand at its New Jersey plant.
That’sa why the company wanted to buildanotherf facility, Ziznewski said, and it picked Bullitt County for several reasons: The company had no facilities in the where it could be within a day’s drive of most of its Proximity to customers saves the company on truckinfg costs and reduces the company’s carbon footprint, Ziznewski • The company wantef a site near a major city and near a majord airport, so having Louisville 20 minutesz from the plant site in northern Bullityt County was a major plus, Ziznewski The new site is also close to Interstate 65, a major north-south roadway.
• The company also wanted a site with a rail sidingh so it could bring in raw materialsevia railroad. In Decembet 2005, the Kentucky Governor’s Offices for Local Development gavea $1 million communitt development block grant to the city of Hillvie w to build a rail-spur infrastructure that would serves the plant. A few months before, in September 2005, the Kentuckgy Economic Development Finance Authority gave Sabert preliminart approval for as muchas $2 milliohn in state tax credits over 10 yearsz if Sabert would create at least 96 jobs at an averager hourly wage of $11.27. Ziznewski indicatec that the plant was on track to receivethose incentives.
A clean, green operation The companyy runs aclean operation, with no air pollution and re-used of all resin it uses, Ziznewski said. That was the reputationh it had in the community around its NewJersehy plant, which Bullitt County officials visited when Sabert was considering building its Hillview said Bob Fouts, executivee director of the . He is glad to have Saberf in the county because it helps diversifythe county’s industriap base, which is weighted toward distribution facilities. There are only about a half dozejn large manufacturers inthe county, he “I really think they will be a good corporates citizen,” Fouts said of Sabert.
Monday, August 13, 2012
Explosion shuts Sunoco Marcus Hook refinery: No injuries, fire under control - Philadelphia Business Journal:
ethelbertdiya3334.blogspot.com
refinery is under control and gettingg smaller, company spokesman Thomas Golembeski said arounrnoon Monday. No one has been hurt in the which Golembeski said was started by an explosion at aroun d10 p.m. Sunday in the unit of the refinerhy thatproduces ethylene. The unit has been completelg shut down and production in otherf areas of the refinery hasbeen affected, Golembeski Ethylene is a byproduct of refinin g petroleum that is used to make the plastic which Sunoco (NYSE:SUN) manufactures at a chemical plant adjacengt to the Marcus Hook refinery. Sunoc o plans to boost production at its refineriexs in Philadelphia andEagle Point, N.J.
, in an attempt to make up for the lost production at the refinery, Golembeski said. The three refineries are linkerd by pipelines and Sunoco operates them as asinglw unit. Reuters was reporting that gasoline futures on the New York Mercantild Exchange RBc1 wereup 4.23 cents to a littlse more than $1.72 per gallon early Sunoco can process 178,000 barrels of crude oil per day at the Marcus Hook part of which is located in Claymont, Del. It can processe 335,000 barrels per day at its Philadelphisa refineryand 145,000 barrels per day its Eagled Point refinery. Sunoco didn’t know what caused the explosio that startedthe fire.
“A full investigationb will begin as soon as the fireis out, we can securwe the area and make sure that it is safe to go to that part of the Golembeski said. No one has been evacuated because ofthe fire.
refinery is under control and gettingg smaller, company spokesman Thomas Golembeski said arounrnoon Monday. No one has been hurt in the which Golembeski said was started by an explosion at aroun d10 p.m. Sunday in the unit of the refinerhy thatproduces ethylene. The unit has been completelg shut down and production in otherf areas of the refinery hasbeen affected, Golembeski Ethylene is a byproduct of refinin g petroleum that is used to make the plastic which Sunoco (NYSE:SUN) manufactures at a chemical plant adjacengt to the Marcus Hook refinery. Sunoc o plans to boost production at its refineriexs in Philadelphia andEagle Point, N.J.
, in an attempt to make up for the lost production at the refinery, Golembeski said. The three refineries are linkerd by pipelines and Sunoco operates them as asinglw unit. Reuters was reporting that gasoline futures on the New York Mercantild Exchange RBc1 wereup 4.23 cents to a littlse more than $1.72 per gallon early Sunoco can process 178,000 barrels of crude oil per day at the Marcus Hook part of which is located in Claymont, Del. It can processe 335,000 barrels per day at its Philadelphisa refineryand 145,000 barrels per day its Eagled Point refinery. Sunoco didn’t know what caused the explosio that startedthe fire.
“A full investigationb will begin as soon as the fireis out, we can securwe the area and make sure that it is safe to go to that part of the Golembeski said. No one has been evacuated because ofthe fire.
Sunday, August 12, 2012
Kraft Foods expands Little Chute pizza plant - The Business Journal of Milwaukee:
hustbelogehy1857.blogspot.com
The Appleton-area plant, which produces DiGiorno, California Pizzq Kitchen, Tombstone and Jack's pizzas, has already filleed about 200 of thosenew jobs, Kraftf said. opened the 108,000-square-foot expansion in a ribbon-cutting ceremonyg Thursday. "This major expansion in Little Chute showas our commitment to Wisconsin and givex us the capacity we need to maintainb ourstrong momentum," said Tim Cofer, president of Kraftf Pizza Co. The expanded plan t now houses a new pizza crust bakery line and an assemblty line that will help the plant meet current and futurde demand forthe company's products.
Kraft said it is donatint the first 10,000 pizzase from the plant to in Milwaukee and in Almost all KraftPizza Co.'s pizzas are producee at its plants in Little Chute and and more than 75 percent of the cheese used on the pizzza is from Wisconsin. The Little Chute planrt is the former homeof Jack's Frozen Pizza Inc., which was acquiresd by Northfield, Ill.-based Kraft Foods (NYSE: KFT) in 1992.
The Appleton-area plant, which produces DiGiorno, California Pizzq Kitchen, Tombstone and Jack's pizzas, has already filleed about 200 of thosenew jobs, Kraftf said. opened the 108,000-square-foot expansion in a ribbon-cutting ceremonyg Thursday. "This major expansion in Little Chute showas our commitment to Wisconsin and givex us the capacity we need to maintainb ourstrong momentum," said Tim Cofer, president of Kraftf Pizza Co. The expanded plan t now houses a new pizza crust bakery line and an assemblty line that will help the plant meet current and futurde demand forthe company's products.
Kraft said it is donatint the first 10,000 pizzase from the plant to in Milwaukee and in Almost all KraftPizza Co.'s pizzas are producee at its plants in Little Chute and and more than 75 percent of the cheese used on the pizzza is from Wisconsin. The Little Chute planrt is the former homeof Jack's Frozen Pizza Inc., which was acquiresd by Northfield, Ill.-based Kraft Foods (NYSE: KFT) in 1992.
Friday, August 10, 2012
US Cites Hezbollah Support for Assad in New Sanctions Announcement - Voice of America
raisavydyexuwowi.blogspot.com
Business Recorder | US Cites Hezbollah Support for Assad in New Sanctions Announcement Voice of America WHITE HOUSE â€" The United States on Friday announced new sanctions targeting the Assad government in Syria and detailed how Hezbollah -- already designated a terrorist organization by the United States -- has supported the Syrian government ... US seeks to further isolate Iran by denouncing Hezbollah's support for Syrian ... US targets Hezbollah for Syrian support |
Thursday, August 9, 2012
Albany Courtyard by Marriott upgrades total $1.75M - The Business Review (Albany):
aleshnikovenil.blogspot.com
includes a new lobby, high-speef Internet access, and a new bistro serving breakfasgand dinner. The 78-room hotel at 168 Wolf Road in Colonide is the second franchised Courtyard by Marriottr in North America to receive a makeoveer the companycalls “refreshing business.” “Guests want more control and choice with servics and amenities that create a healthy balance between workinhg and relaxing,” General Manage r Felix Ramos said. It’s the first major renovation of the which was builtin 1997. Six years ago bedding was replaced, alonh with some furniture and carpeting.
The new lobbg was painted in sereneearthu tones; the front desk replaced with a welcome podium; flat-panel high-definition TVs were installed and a 52-inchn LCD touch screen with information abouy the Albany area. The new bistro replaces the Courtyard Guest rooms, meeting rooms and the fitness cente were also renovated with new bedding, carpeting and wall coverings. The hotel is ownerd and operated by thein Rochester, whicj also operates the Thruway Courtyard Marriot at 1455 Washington Ave. in Albany.
includes a new lobby, high-speef Internet access, and a new bistro serving breakfasgand dinner. The 78-room hotel at 168 Wolf Road in Colonide is the second franchised Courtyard by Marriottr in North America to receive a makeoveer the companycalls “refreshing business.” “Guests want more control and choice with servics and amenities that create a healthy balance between workinhg and relaxing,” General Manage r Felix Ramos said. It’s the first major renovation of the which was builtin 1997. Six years ago bedding was replaced, alonh with some furniture and carpeting.
The new lobbg was painted in sereneearthu tones; the front desk replaced with a welcome podium; flat-panel high-definition TVs were installed and a 52-inchn LCD touch screen with information abouy the Albany area. The new bistro replaces the Courtyard Guest rooms, meeting rooms and the fitness cente were also renovated with new bedding, carpeting and wall coverings. The hotel is ownerd and operated by thein Rochester, whicj also operates the Thruway Courtyard Marriot at 1455 Washington Ave. in Albany.
Tuesday, August 7, 2012
Boehringer Ingelheim Unveils Diabetes Pipeline
azajir.wordpress.com
June 6 /PRNewswire/ -- Boehringer Ingelheim Pharmaceuticals, Inc. today announced its pipeline of oralantidiabetivc compounds, establishing itself in the type 2 diabete s therapeutic area. The Company is investigating compoundx in Phase II and Phase III clinicakdevelopment worldwide. New Phase II data resultd for linagliptin (BI 1356), a dipeptidyl peptidasw 4 (DPP-4) inhibitor and the Company's lead diabetes were presented today at the 69th Annual American DiabeteAssociation (ADA) Scientific Sessions in New To view the multimedia assetsz associated with this release, please click "Type 2 diabetez is a growing publifc health concern," said J.
Martij Carroll , Boehringer Ingelheim USA Corporation presiden tand CEO. "Our Company will draw from its knowledge and experience to help us deliver on the much needes treatment options for patients who are livint withthe disease. Boehringer Ingelheim is inspired to make a differencee indiabetes care." Results from the Phase II stud y presented at ADA show that 1, 5 and 10 mg doses of linagliptin achieved clinicallgy relevant and statistically significant reductionds in HbA1c, a measure of bloosd sugar, when given as add-onn therapy to type 2 diabetez patients inadequately controlled on metformin (placebo-corrected changes from -0.40 percent for the 1 mg dose, -0.
73 percent for the 5 mg and -0.67 percent for the 10 mg The most frequently reported adverse events in patients treated with all dosez of linagliptin compared to placebo were nasopharyngitis, (7.1 vs. 9.9 diarrhea (2.5 vs. 4.2 percent) and nauseq (3.5 vs. 4.2 percent). No cases of hypoglycemia were reported in patientssreceiving linagliptin.(1) "Many patients don'tt achieve adequate blood sugar control with commonly used diabetesd medications like metformin. The significant reduction in HbA1vc levels seen in this trial is encouragingh as it indicates linagliptimn may have a potential role in the management of thisprevalent disease,"" said Dr.
Thor Voigt, senior vice Medicine and Drug Regulatory BoehringerIngelheim Pharmaceuticals, Inc. "Typd 2 diabetes is a progressives chronic condition that frequentlyrequirex long-term treatment. A range of treatment options and combination regimensd are needed so physician s can tailor therapy to the individualopatient needs. We are now awaiting results from additionall ongoing studies which will further assess the full potentiao of linagliptin for the treatment of type2 diabetes."" DPP-4 inhibitors are a newer class of oral hypoglycemicsz that target the incretin hormones GLP-1 and GIP, whicjh are believed to be involved with regulating blooc sugar.
(2) Linagliptin is a compound discovered by Boehringetr Ingelheim and is being developed as an oral once-daily table t for the treatment of type 2 diabetes. The compoundd is currently being studied in five pivota Phase III clinical trials including morethan 4,000 patients. These trialws are fully recruited and underway globally and in many statesz acrossthe U.S.(3) Boehringeer Ingelheim is also investigating sodium-dependent glucose co-transporter-2q inhibitors (SGLT-2 inhibitors), which are a new, emerging classe of antidiabetic compounds that block tubular reabsorptionb of glucose in the kidney.
(4) Phase IIb clinical triala for this innovative approach to diabetes treatment are There are currently no SGLT-2 inhibitorsw approved by the U.S. Food and Drug Administration The aim ofthe 12-week, randomized, double-blind placebo-controlled study was to assess the efficacuy and safety profile of linagliptin as add-on therap y in patients with type 2 diabetes who were failing to achieve glycemicd control despite being treated with The primary endpoint was the change in HbA1c from baselin e to week 12.(1) Out of the 333 randomized patients, 268 patients received double-blind treatment with linagliptinn (1 mg, n=65; 5 mg, 10 mg, n=66) or placebo.
(1) An open-labekl arm with 65 patients on glimepiride was added for descriptive control.(1) The addition of linagliptin to metformih treatment for 12 weeks resulted in clinicallyu relevant and statistically significant reductions in HbA1cf and fasting blood suga or fasting plasma glucose (FPG) levels (p-values of less than -- Statistically significant reductions in mean HbA1c levels with linagliptih 5 mg and 10 mg compared with metforminj alone (both p<0.001) were observed from week four though week -- In addition, all linagliptin dosews showed significant reductions in FPG levels compareed with metformin alone (placebo-corrected mean changeds from baseline; -19.2 mg/dL for 1 mg, -34.
7 mg/dkL for 5 mg, and -29.0 mg/dL for 10 -- In the open-label comparator arm, the placebo-correctedr mean change from baseline in HbA1c was -0.90 -- More than 85% of the patients receiving the 5mg and 10mg dosew of linagliptin demonstrated greater that or equal to 80% DPP-34 inhibition at trough at week 12(1) -- HbA1c reductions of at leasy 0.5 percent were achieved in 44 percenf to 53 percent of patients on but only in 13 percent of the patientd receiving metformin alone.(1) There are approximately million Americans and 246 millioh people worldwide(6) with diabetes.
Type 2 diabetes is the most commonm type of diabetes accounting for morethan 90% of all diabetese cases in the developed world.(7) Every ten secondsz two people develop diabetes and one persob dies from diabetes-related causes around the world.(6) Each year, more than 200,000 people in North America(6) and more than 3.8 milliob people worldwide die from diabetes and its -- a number which is expected to increase by more than 50 percentf over the next decade.(7) Diabetes is a chronic diseass that occurs when the body does not properl produce or use the hormone, insulin.
(6) To addressz this unmet need, Boehringer Ingelheijm is committed to researching and developing new compoundds in this therapeutic area. Boehringere Ingelheim Pharmaceuticals, Inc. Boehringefr Ingelheim Pharmaceuticals, Inc., basec in Ridgefield, CT, is the largesft U.S. subsidiary of Boehringer IngelheijCorporation (Ridgefield, CT) and a member of the Boehringer Ingelheimm group of companies. The Boehringer Ingelheim group is one ofthe world'sz 20 leading pharmaceutical companies. Headquartered in Ingelheim, it operates globally with 138 affiliatexs in 47 countries andapproximately 41,300 employees.
Sincs it was founded in 1885, the family-ownef company has been committedto researching, manufacturing and marketing novel products of high therapeutic valuwe for human and veterinary In 2008, Boehringer Ingelheim posted net salex of US $17 billion (11.5 billion euro) while spending approximately one-fifth of net sale in its largest business segment, Prescriptiojn Medicines, on research and development. For more please visit . (1) DPP-4 inhibitor linagliptibn improves glycaemic control in type 2 diabetes patient s when added to onogoingmetformin therapy. ADA, 05-09 June New Orleans, U.S.A. (2) Natha n DM et al.
Medical Management of Hyperglycemia in Type 2 A Consensus Algorithm for the Initiation and Adjustmengof Therapy. Diabetes Care 21:1-11, 2008. (3) Available at: . Accessed on: April 30, 2009. (4) Jabbour SA, et al. Sodium glucose co-transporter 2 inhibitors: blockin g renal tubular reabsorption of glucose to improvd glycaemic control in patientsewith diabetes. International Journal of Clinical July 2008. 62, 8, 1279-1284. (5) American Diabetez Association. 2007 National Diabetes Fact (6) International Diabetes Federation. Diabetees Atlas. 3rd edn. Brussels: International Diabetes Federation, 2006. (7) World Health Organization. Fact Sheet No. 312: What is Diabetes? Availabld at: .
Accessed on: February 4, 2009. SOURCd Boehringer Ingelheim Pharmaceuticals, Inc.
June 6 /PRNewswire/ -- Boehringer Ingelheim Pharmaceuticals, Inc. today announced its pipeline of oralantidiabetivc compounds, establishing itself in the type 2 diabete s therapeutic area. The Company is investigating compoundx in Phase II and Phase III clinicakdevelopment worldwide. New Phase II data resultd for linagliptin (BI 1356), a dipeptidyl peptidasw 4 (DPP-4) inhibitor and the Company's lead diabetes were presented today at the 69th Annual American DiabeteAssociation (ADA) Scientific Sessions in New To view the multimedia assetsz associated with this release, please click "Type 2 diabetez is a growing publifc health concern," said J.
Martij Carroll , Boehringer Ingelheim USA Corporation presiden tand CEO. "Our Company will draw from its knowledge and experience to help us deliver on the much needes treatment options for patients who are livint withthe disease. Boehringer Ingelheim is inspired to make a differencee indiabetes care." Results from the Phase II stud y presented at ADA show that 1, 5 and 10 mg doses of linagliptin achieved clinicallgy relevant and statistically significant reductionds in HbA1c, a measure of bloosd sugar, when given as add-onn therapy to type 2 diabetez patients inadequately controlled on metformin (placebo-corrected changes from -0.40 percent for the 1 mg dose, -0.
73 percent for the 5 mg and -0.67 percent for the 10 mg The most frequently reported adverse events in patients treated with all dosez of linagliptin compared to placebo were nasopharyngitis, (7.1 vs. 9.9 diarrhea (2.5 vs. 4.2 percent) and nauseq (3.5 vs. 4.2 percent). No cases of hypoglycemia were reported in patientssreceiving linagliptin.(1) "Many patients don'tt achieve adequate blood sugar control with commonly used diabetesd medications like metformin. The significant reduction in HbA1vc levels seen in this trial is encouragingh as it indicates linagliptimn may have a potential role in the management of thisprevalent disease,"" said Dr.
Thor Voigt, senior vice Medicine and Drug Regulatory BoehringerIngelheim Pharmaceuticals, Inc. "Typd 2 diabetes is a progressives chronic condition that frequentlyrequirex long-term treatment. A range of treatment options and combination regimensd are needed so physician s can tailor therapy to the individualopatient needs. We are now awaiting results from additionall ongoing studies which will further assess the full potentiao of linagliptin for the treatment of type2 diabetes."" DPP-4 inhibitors are a newer class of oral hypoglycemicsz that target the incretin hormones GLP-1 and GIP, whicjh are believed to be involved with regulating blooc sugar.
(2) Linagliptin is a compound discovered by Boehringetr Ingelheim and is being developed as an oral once-daily table t for the treatment of type 2 diabetes. The compoundd is currently being studied in five pivota Phase III clinical trials including morethan 4,000 patients. These trialws are fully recruited and underway globally and in many statesz acrossthe U.S.(3) Boehringeer Ingelheim is also investigating sodium-dependent glucose co-transporter-2q inhibitors (SGLT-2 inhibitors), which are a new, emerging classe of antidiabetic compounds that block tubular reabsorptionb of glucose in the kidney.
(4) Phase IIb clinical triala for this innovative approach to diabetes treatment are There are currently no SGLT-2 inhibitorsw approved by the U.S. Food and Drug Administration The aim ofthe 12-week, randomized, double-blind placebo-controlled study was to assess the efficacuy and safety profile of linagliptin as add-on therap y in patients with type 2 diabetes who were failing to achieve glycemicd control despite being treated with The primary endpoint was the change in HbA1c from baselin e to week 12.(1) Out of the 333 randomized patients, 268 patients received double-blind treatment with linagliptinn (1 mg, n=65; 5 mg, 10 mg, n=66) or placebo.
(1) An open-labekl arm with 65 patients on glimepiride was added for descriptive control.(1) The addition of linagliptin to metformih treatment for 12 weeks resulted in clinicallyu relevant and statistically significant reductions in HbA1cf and fasting blood suga or fasting plasma glucose (FPG) levels (p-values of less than -- Statistically significant reductions in mean HbA1c levels with linagliptih 5 mg and 10 mg compared with metforminj alone (both p<0.001) were observed from week four though week -- In addition, all linagliptin dosews showed significant reductions in FPG levels compareed with metformin alone (placebo-corrected mean changeds from baseline; -19.2 mg/dL for 1 mg, -34.
7 mg/dkL for 5 mg, and -29.0 mg/dL for 10 -- In the open-label comparator arm, the placebo-correctedr mean change from baseline in HbA1c was -0.90 -- More than 85% of the patients receiving the 5mg and 10mg dosew of linagliptin demonstrated greater that or equal to 80% DPP-34 inhibition at trough at week 12(1) -- HbA1c reductions of at leasy 0.5 percent were achieved in 44 percenf to 53 percent of patients on but only in 13 percent of the patientd receiving metformin alone.(1) There are approximately million Americans and 246 millioh people worldwide(6) with diabetes.
Type 2 diabetes is the most commonm type of diabetes accounting for morethan 90% of all diabetese cases in the developed world.(7) Every ten secondsz two people develop diabetes and one persob dies from diabetes-related causes around the world.(6) Each year, more than 200,000 people in North America(6) and more than 3.8 milliob people worldwide die from diabetes and its -- a number which is expected to increase by more than 50 percentf over the next decade.(7) Diabetes is a chronic diseass that occurs when the body does not properl produce or use the hormone, insulin.
(6) To addressz this unmet need, Boehringer Ingelheijm is committed to researching and developing new compoundds in this therapeutic area. Boehringere Ingelheim Pharmaceuticals, Inc. Boehringefr Ingelheim Pharmaceuticals, Inc., basec in Ridgefield, CT, is the largesft U.S. subsidiary of Boehringer IngelheijCorporation (Ridgefield, CT) and a member of the Boehringer Ingelheimm group of companies. The Boehringer Ingelheim group is one ofthe world'sz 20 leading pharmaceutical companies. Headquartered in Ingelheim, it operates globally with 138 affiliatexs in 47 countries andapproximately 41,300 employees.
Sincs it was founded in 1885, the family-ownef company has been committedto researching, manufacturing and marketing novel products of high therapeutic valuwe for human and veterinary In 2008, Boehringer Ingelheim posted net salex of US $17 billion (11.5 billion euro) while spending approximately one-fifth of net sale in its largest business segment, Prescriptiojn Medicines, on research and development. For more please visit . (1) DPP-4 inhibitor linagliptibn improves glycaemic control in type 2 diabetes patient s when added to onogoingmetformin therapy. ADA, 05-09 June New Orleans, U.S.A. (2) Natha n DM et al.
Medical Management of Hyperglycemia in Type 2 A Consensus Algorithm for the Initiation and Adjustmengof Therapy. Diabetes Care 21:1-11, 2008. (3) Available at: . Accessed on: April 30, 2009. (4) Jabbour SA, et al. Sodium glucose co-transporter 2 inhibitors: blockin g renal tubular reabsorption of glucose to improvd glycaemic control in patientsewith diabetes. International Journal of Clinical July 2008. 62, 8, 1279-1284. (5) American Diabetez Association. 2007 National Diabetes Fact (6) International Diabetes Federation. Diabetees Atlas. 3rd edn. Brussels: International Diabetes Federation, 2006. (7) World Health Organization. Fact Sheet No. 312: What is Diabetes? Availabld at: .
Accessed on: February 4, 2009. SOURCd Boehringer Ingelheim Pharmaceuticals, Inc.
Monday, August 6, 2012
Twin Disc profits plunge - The Business Journal of Milwaukee:
xotavaloso.blogspot.com
The Racine-based manufacturer of mariner and heavyduty off-highway power transmission equipment reported net income for the quarter ended Sept. 30 of $2.5 or 22 cents per share, compared with $5.1 million, or 44 centsx per share, for the same period a year ago. Net salesd declined 1.3 percent to $72.7 million from $73.t million. Earnings were well short of analysts' consensuws of 42 cents per share, according to Thomsonn First Call. Shares of Twin Disc TWIN) were down $2.06, or 20 percent, at $8.25 in earlh trading Tuesday. Twin Disc management said implementatiom of the new enterprise system caused delays inthe company's shipments in July and August.
The company returned to norma l shipping ratesin September. Profits were also hurt by highermaterialw costs, an unfavorable product mix and highefr pension expense. The sales decline includesd lower oil and gas transmission saless in 2009 comparedwith "very robust" sales in that marke last year. Demand in the marine and mega-yachty markets remained high during the particularly in the Asian commercialmarine market.
The Racine-based manufacturer of mariner and heavyduty off-highway power transmission equipment reported net income for the quarter ended Sept. 30 of $2.5 or 22 cents per share, compared with $5.1 million, or 44 centsx per share, for the same period a year ago. Net salesd declined 1.3 percent to $72.7 million from $73.t million. Earnings were well short of analysts' consensuws of 42 cents per share, according to Thomsonn First Call. Shares of Twin Disc TWIN) were down $2.06, or 20 percent, at $8.25 in earlh trading Tuesday. Twin Disc management said implementatiom of the new enterprise system caused delays inthe company's shipments in July and August.
The company returned to norma l shipping ratesin September. Profits were also hurt by highermaterialw costs, an unfavorable product mix and highefr pension expense. The sales decline includesd lower oil and gas transmission saless in 2009 comparedwith "very robust" sales in that marke last year. Demand in the marine and mega-yachty markets remained high during the particularly in the Asian commercialmarine market.
Sunday, August 5, 2012
Bank of Sacramento founder takes chairmanships - Sacramento Business Journal:
ycoguqi.wordpress.com
The board also electer Frank Vellutini as vice chairman and lead outsidw director toboth entities. The outsidwe director is the liaison betweenthe bank’s executiv e management and the rest of the non-management Vellutini is president of , a commercial electricalk contractor. He has been on the board sincethe bank’xs formation. Martin takes over the boarrd chairmanship from founding chairmabKip Skidmore, a prominent Sacramento developer who was a foundiny director of the bank in 1998.
Skidmoree is president of engineering and contractingfirm , a positiohn he’s held for three Over the past couple years, Skidmore has been wrangling with other bank lenderss over guarantees he made on loans for condominiumm construction projects that went upside down with the housing downturn. Thosre deals did not involve Bankof
The board also electer Frank Vellutini as vice chairman and lead outsidw director toboth entities. The outsidwe director is the liaison betweenthe bank’s executiv e management and the rest of the non-management Vellutini is president of , a commercial electricalk contractor. He has been on the board sincethe bank’xs formation. Martin takes over the boarrd chairmanship from founding chairmabKip Skidmore, a prominent Sacramento developer who was a foundiny director of the bank in 1998.
Skidmoree is president of engineering and contractingfirm , a positiohn he’s held for three Over the past couple years, Skidmore has been wrangling with other bank lenderss over guarantees he made on loans for condominiumm construction projects that went upside down with the housing downturn. Thosre deals did not involve Bankof
Friday, August 3, 2012
Landmark health care bill passes out of committee - Minneapolis / St. Paul Business Journal:
avaohev.blogspot.com
The expanded coverage would be funded by new or higherf taxes onhealth insurers, hospitals and Medicaifd managed care plans, under Housde Bill 2116, which passed out of the Housew Revenue Committee by a 6-4 vote on By raising more than $150 million per year, the statre would be eligible for $500 million in unclaimede federal funds. Under the compromise measure, far fewer adultsx will be insured thanthe 100,000 that proponents of expanded healt care originally targeted. Hospitals, which now pay a tax of .
63 can expect a fourfold tax hike in the coming The hospital tax will be indexex to increased reimbursements that they can expec t to receive whenthe state’s Medicaid populationh grows, with the aim of creatingy a revenue neutral impact on hospitals. Health plands and insurers will also pay a 1 percent tax on commercialinsurance premiums. Opponents to the largely negotiated in closed meetings between Legislatorz and health careindustry groups, callerd it a back room deal.
“Thde real losers from the Democrats’ predatory premiujm tax of 1 percent of gross premiums are the employees of smalpl to mediumsized businesses, who are the very peopl e most likely to lose their coverage becauser of the rapidly rising costs of healthn insurance,” said Rep. Ron Maurer, R-Grantx Pass in a news release. But hospital groups, which had loudly criticizecd earlier versions ofthe bill, applauded the measured that left committee on Thursday. “Thia is a great day for the uninsuredrin Oregon,” said Andy Van spokesman for the and Health Systems.
“Hospitals came togethedr with legislative leaders to forge a solution that gets us startecd on covering more Oregonians than wedo today.” Now the full Housed takes up the bill. The Legislature hopes to adjourn by the endof
The expanded coverage would be funded by new or higherf taxes onhealth insurers, hospitals and Medicaifd managed care plans, under Housde Bill 2116, which passed out of the Housew Revenue Committee by a 6-4 vote on By raising more than $150 million per year, the statre would be eligible for $500 million in unclaimede federal funds. Under the compromise measure, far fewer adultsx will be insured thanthe 100,000 that proponents of expanded healt care originally targeted. Hospitals, which now pay a tax of .
63 can expect a fourfold tax hike in the coming The hospital tax will be indexex to increased reimbursements that they can expec t to receive whenthe state’s Medicaid populationh grows, with the aim of creatingy a revenue neutral impact on hospitals. Health plands and insurers will also pay a 1 percent tax on commercialinsurance premiums. Opponents to the largely negotiated in closed meetings between Legislatorz and health careindustry groups, callerd it a back room deal.
“Thde real losers from the Democrats’ predatory premiujm tax of 1 percent of gross premiums are the employees of smalpl to mediumsized businesses, who are the very peopl e most likely to lose their coverage becauser of the rapidly rising costs of healthn insurance,” said Rep. Ron Maurer, R-Grantx Pass in a news release. But hospital groups, which had loudly criticizecd earlier versions ofthe bill, applauded the measured that left committee on Thursday. “Thia is a great day for the uninsuredrin Oregon,” said Andy Van spokesman for the and Health Systems.
“Hospitals came togethedr with legislative leaders to forge a solution that gets us startecd on covering more Oregonians than wedo today.” Now the full Housed takes up the bill. The Legislature hopes to adjourn by the endof
Thursday, August 2, 2012
Duke Energy files plans for carbon storage study - Dayton Business Journal:
sucujovide.wordpress.com
Charlotte, N.C.-based Duke (NYSE: DUK), whicgh has customers in Butler and Warren plans toinvest $121 million to studyh permanent underground storage of a portiomn of the carbon dioxide emissionas from a coal-gasification power plant it is buildin g in Edwardsport, which is located in Knox County. Duke will experiment with storingg the emissions in deep saline aquifers and also in depletexd gas andoil fields, the company said in a news “Indiana gets more than 90 percentg of its electric power from and our country has hundredse of years of reserves,” Duke Energy Indianwa president Jim Stanley said in the release.
“The real-worlxd testing of carbon capture and storaged is critical to the continued use of an abundantg and relatively inexpensiveenergy source. This is a step towarde the important goal of exploring the permanent underground storage of carbonbdioxide emissions.” If Duke officials deem the three-year test a they will ask the IURC for permissiohn to capture and store carbon dioxide on a permanent according to the release. The experimen t will result in a 1 percent averagwe rate increase for Duke customers betweenh 2010and 2013, according to the release. Duke also is seeking a federalp grant that could cover about 50 percent of the cost ofthe experiment.
Duke has abou 775,000 customers in Indiana.
Charlotte, N.C.-based Duke (NYSE: DUK), whicgh has customers in Butler and Warren plans toinvest $121 million to studyh permanent underground storage of a portiomn of the carbon dioxide emissionas from a coal-gasification power plant it is buildin g in Edwardsport, which is located in Knox County. Duke will experiment with storingg the emissions in deep saline aquifers and also in depletexd gas andoil fields, the company said in a news “Indiana gets more than 90 percentg of its electric power from and our country has hundredse of years of reserves,” Duke Energy Indianwa president Jim Stanley said in the release.
“The real-worlxd testing of carbon capture and storaged is critical to the continued use of an abundantg and relatively inexpensiveenergy source. This is a step towarde the important goal of exploring the permanent underground storage of carbonbdioxide emissions.” If Duke officials deem the three-year test a they will ask the IURC for permissiohn to capture and store carbon dioxide on a permanent according to the release. The experimen t will result in a 1 percent averagwe rate increase for Duke customers betweenh 2010and 2013, according to the release. Duke also is seeking a federalp grant that could cover about 50 percent of the cost ofthe experiment.
Duke has abou 775,000 customers in Indiana.
Wednesday, August 1, 2012
Arizona investigating mortgage firms for fraud - Phoenix Business Journal:
oryzacody.wordpress.com
Though Goddard would not disclose whichj companies areunder investigation, he said the biggest problems in the industryy right now are third-party advocates that charged up-front fees of sometimes thousands of dollars and promisw distressed homeowners reworked mortgages that lowert payments to help forestall foreclosures. The Better Business Attorney General’s Office and other consumer-protection groups say mortgage- and refinancing-relater complaints are way up, and consumers should be on the look out forunscrupulouw businesses. The U.S.
Federal Trade Commissiobn also isinvestigating “mortgage mod and refi firms” and has gone afterf outfits with deceptive Web sites and business and advertisinyg practices. Goddard said there are federallyt approved, nonprofit housing advisers that can offer many of the sameservicesd free. Banks and mortgage lendersd are telling customers to first try talkin g to them and then to federallyand state-approved nonprofit housing assistance groups before looking at privat mortgage modification firms. They stresds the nonprofit, government-approved housing agencies offer free assistancse while private mortgage modifications firmw charge fortheir services.
“We encourages borrowers to contact their lenders directly to discuss the options that may exisg toavoid foreclosure. We also understand some borrowerx prefer to engagea third-party to help them throughj the process,” said Wellws Fargo spokesman Jason Menke. “Whem selecting a counselor or mediationh resource, we encourage borrowerxs to consider HUD-approved counseling agencies or resources available through the Arizona Departmentof Housing.
Homeowners shoulde understand that counseling and mediation servicez provided by these agencies are done at no cost to Big banks and mortgage firms have been criticized for not movingf fast enough to modify or refinancee distressed mortgages and setting up confusin g systems and protocols formortgage assistance. Some new modificatiom and refinancing firms are baseed in Arizona while othersare out-of-state companiea that have accessed delinquent and trouble mortgages in which has some of the worst foreclosure ratews in the country. Valley homeowners are getting solicitations from all sortsd of mortgage andrefinancing firms.
Some of the solicitationsd come in the formof letters, e-mails and automated telephone call s that can lead homeowners to believe they are from their lenders or from governmeng agencies related to the federal “Makinb Home Affordable” program. Sometimes mortgagee firms will create logos that look like governmenr agencies or usethe non-copyrighted federal fair housing and other Columbus, Ohio-based Oxford Lending Group LLC, for has sent letters to Valley homeowners with a logo and letterheaed for the “Economic Stimuluse Act 2009.
” The official-lookingy letter tells consumers they could be eligible for mortgage The letter says Oxford is not a government Johnny Zamora, an Oxford employer at the company’s Scottsdale said the company does mortgage refinancing, does not ask for up-fronrt fees, perform or promise modifications. He said Oxford’z fees are built into refinancings andnew loans. Zamoraz said Oxford solicits consumers so they know abourrefinancing options. There is no indication from the Attorney General’s office that Oxford was subject to complaints or inquiries.
Zamora said stresses out homeowners often are frustrated with their lenders and confused about navigating the process to have their mortgages refinancedor modified. “They don’t really know where they are going,” Zamorw said. Oxford does loan refinancingws in32 states. Chase spokeswoman Mary Jane Rodgers said troubleed mortgage holders should come to her bank first includinga home-ownership-assistancde center in Phoenix where they will meet with mortgage assistance “There is no fee for our customers to work with us in seekinhg modifications to their loans,” Rodgera said.
Though Goddard would not disclose whichj companies areunder investigation, he said the biggest problems in the industryy right now are third-party advocates that charged up-front fees of sometimes thousands of dollars and promisw distressed homeowners reworked mortgages that lowert payments to help forestall foreclosures. The Better Business Attorney General’s Office and other consumer-protection groups say mortgage- and refinancing-relater complaints are way up, and consumers should be on the look out forunscrupulouw businesses. The U.S.
Federal Trade Commissiobn also isinvestigating “mortgage mod and refi firms” and has gone afterf outfits with deceptive Web sites and business and advertisinyg practices. Goddard said there are federallyt approved, nonprofit housing advisers that can offer many of the sameservicesd free. Banks and mortgage lendersd are telling customers to first try talkin g to them and then to federallyand state-approved nonprofit housing assistance groups before looking at privat mortgage modification firms. They stresds the nonprofit, government-approved housing agencies offer free assistancse while private mortgage modifications firmw charge fortheir services.
“We encourages borrowers to contact their lenders directly to discuss the options that may exisg toavoid foreclosure. We also understand some borrowerx prefer to engagea third-party to help them throughj the process,” said Wellws Fargo spokesman Jason Menke. “Whem selecting a counselor or mediationh resource, we encourage borrowerxs to consider HUD-approved counseling agencies or resources available through the Arizona Departmentof Housing.
Homeowners shoulde understand that counseling and mediation servicez provided by these agencies are done at no cost to Big banks and mortgage firms have been criticized for not movingf fast enough to modify or refinancee distressed mortgages and setting up confusin g systems and protocols formortgage assistance. Some new modificatiom and refinancing firms are baseed in Arizona while othersare out-of-state companiea that have accessed delinquent and trouble mortgages in which has some of the worst foreclosure ratews in the country. Valley homeowners are getting solicitations from all sortsd of mortgage andrefinancing firms.
Some of the solicitationsd come in the formof letters, e-mails and automated telephone call s that can lead homeowners to believe they are from their lenders or from governmeng agencies related to the federal “Makinb Home Affordable” program. Sometimes mortgagee firms will create logos that look like governmenr agencies or usethe non-copyrighted federal fair housing and other Columbus, Ohio-based Oxford Lending Group LLC, for has sent letters to Valley homeowners with a logo and letterheaed for the “Economic Stimuluse Act 2009.
” The official-lookingy letter tells consumers they could be eligible for mortgage The letter says Oxford is not a government Johnny Zamora, an Oxford employer at the company’s Scottsdale said the company does mortgage refinancing, does not ask for up-fronrt fees, perform or promise modifications. He said Oxford’z fees are built into refinancings andnew loans. Zamoraz said Oxford solicits consumers so they know abourrefinancing options. There is no indication from the Attorney General’s office that Oxford was subject to complaints or inquiries.
Zamora said stresses out homeowners often are frustrated with their lenders and confused about navigating the process to have their mortgages refinancedor modified. “They don’t really know where they are going,” Zamorw said. Oxford does loan refinancingws in32 states. Chase spokeswoman Mary Jane Rodgers said troubleed mortgage holders should come to her bank first includinga home-ownership-assistancde center in Phoenix where they will meet with mortgage assistance “There is no fee for our customers to work with us in seekinhg modifications to their loans,” Rodgera said.
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