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The study, conducted by the and the Universao Health CareAction Network-MN and published in the February issue of Minnesota Medicine, found that 63.4 percentr of state physicians believe that a single-payer universakl health insurance system would offerr the best health care to the greatesyt number of people. According to a presx release, almost 25 percent of Minnesota physicianz thought health savings account systems were and 11.8 percent were in favor of managed care. Dr.
Charlexs Oberg, the study's co-author and associate professor at the Universit of Minnesota School ofPublic commented, "Many doctors are becoming increasingly disappointed and frustrated with the health care system as it stands. Insurancre hassles, heavy paperwork, and inability to get the care they need make it very The study also found that 71 percenr of Minnesota doctors said they would accept a 10 percent reduction in fees fora "very reduction in paperwork, and 63.8 percent favorerd physician payment under a salary system.
Researchersw mailed surveys with questiona on health care financing and medical practices to a randomn sampleof 1,061 Minnesota physicianw drawn from the Minnesota Board of Medical Thirty-nine percent of the surveya were completed and returned. Data was compiled and analyzed by the Universityg of Minnesota School ofPublic
Friday, December 30, 2011
Wednesday, December 28, 2011
City School Board enacting new voting districts - The Daily News Online
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City School Board enacting new voting districts The Daily News Online BATAVIA â€" The city's Board of Education plans to enact new voting districts and polling places for the next election and budget vote, Business Administrator Scott Rozanski says. Rozanski proposed the change to save money by decreasing the polling ... |
Monday, December 26, 2011
Private equity groups boost merger activity - Dayton Business Journal:
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National and local private equity groupds have begun playing a larger role in mergers and giving companies another optionwhen selling. These typew of firms accounted for 20 percent of all of the mergef and activity in the countrylast year, or $3.6 trillionb in closed deals, according to Thomas "They are changing the landscape of mergersd and acquisitions," said Jim president of . "They are great sellersz for companies that meet criteria such as paying a high multituded and having a platform in a niche Sachs said six months ago his firm listed a locall manufacturing company for sale on a merger and acquisitions Web site and was inundatedx with inquiries from privateequityg groups.
Companies that specialize in this type of buying focuws on finding and investing in niche businesses that they can help grow by reorganizatiomn and acquisitions to make the businessmore profitable. Theses type of firms usually raise money fromhigh net-worthn individuals or institutional investors to buy both privates and public companies. Most private equity groupe are interested in growint industries such as health care and are beginningy to shy away from theautomotive industry, Sach Jim Butterfield, principal with Atlanta-based , said the main goal of his firm is to help smal l companies that aren't doing well save jobs by buildinbg the business back up and keeping as many employeesd as possible.
Most of thes e types of firms purchase companies who have high barriersof entry, good management teams and the ability to grow in their industry so investorsa will get good return once they are Riverside focuses on buyinbg small businesses or companies who have a $1 million in cash flow and anywhered from 30 to 50 employees. When equityg firms like Riverside acquire companies they make improvementzs to the business such as helping personnel with hiring the right creating incentive plans to perform and possiblr outsourcing in order to get a good return from the company once Firms in this business usually turn arouns and sell companies in five years for a higher acquisitionb price so investors get ahigher return.
"Wwe exist specifically to put money to work for our investors and give them a good Butterfield said. Ed Reilly, president of 'se southwest Ohio district, said privatre equity firms are starting to bring some competition forlocal banks. "They are beginninhg to be a large liquid sourceof capital," he "Clients that are bein bought by private equity groups often times don'tg have a need for local banks." -- with stations in the Dayton-arew -- was acquired by through Washington, D.C.-based Englewood-basef TeleSuite Corp. was acquired by Nebraska-based in 2002.
Privat e equity firms may not have a need for the local banking market because they use a combinatiomn of their own capital and largee lines of credit whic h may only be concentrated withlarger banks, Sachzs said. Butterfield said the local bankinb market can be used for cash managementg and trust services for these groups which still creates a needfor "Companies are going to sell regardless of who' s going to buy," he Banks could begin to lose business when companiezs sell to strategic buyers who oftebn fold the business into a headquarters creatinv one less customer, Butterfiels said.
Strategic buyers often don'y acquire all of a company's assets and bring in theirt own management group hoping it will drive higher margins. Butterfield said if the public returnh on companies becomes tremendous in thenear future, privatd equity firms may be in trouble. Tom Mangan, seniord vice president with Alpha-based , said the trend of privatw equity firms may have runits course. "The marketf has been strong for the past 15 or 20 years becausde low quality bonds have been outperforming highqualith bonds, but the spreads are going to get tighter making it hardert for them," he said.
National and local private equity groupds have begun playing a larger role in mergers and giving companies another optionwhen selling. These typew of firms accounted for 20 percent of all of the mergef and activity in the countrylast year, or $3.6 trillionb in closed deals, according to Thomas "They are changing the landscape of mergersd and acquisitions," said Jim president of . "They are great sellersz for companies that meet criteria such as paying a high multituded and having a platform in a niche Sachs said six months ago his firm listed a locall manufacturing company for sale on a merger and acquisitions Web site and was inundatedx with inquiries from privateequityg groups.
Companies that specialize in this type of buying focuws on finding and investing in niche businesses that they can help grow by reorganizatiomn and acquisitions to make the businessmore profitable. Theses type of firms usually raise money fromhigh net-worthn individuals or institutional investors to buy both privates and public companies. Most private equity groupe are interested in growint industries such as health care and are beginningy to shy away from theautomotive industry, Sach Jim Butterfield, principal with Atlanta-based , said the main goal of his firm is to help smal l companies that aren't doing well save jobs by buildinbg the business back up and keeping as many employeesd as possible.
Most of thes e types of firms purchase companies who have high barriersof entry, good management teams and the ability to grow in their industry so investorsa will get good return once they are Riverside focuses on buyinbg small businesses or companies who have a $1 million in cash flow and anywhered from 30 to 50 employees. When equityg firms like Riverside acquire companies they make improvementzs to the business such as helping personnel with hiring the right creating incentive plans to perform and possiblr outsourcing in order to get a good return from the company once Firms in this business usually turn arouns and sell companies in five years for a higher acquisitionb price so investors get ahigher return.
"Wwe exist specifically to put money to work for our investors and give them a good Butterfield said. Ed Reilly, president of 'se southwest Ohio district, said privatre equity firms are starting to bring some competition forlocal banks. "They are beginninhg to be a large liquid sourceof capital," he "Clients that are bein bought by private equity groups often times don'tg have a need for local banks." -- with stations in the Dayton-arew -- was acquired by through Washington, D.C.-based Englewood-basef TeleSuite Corp. was acquired by Nebraska-based in 2002.
Privat e equity firms may not have a need for the local banking market because they use a combinatiomn of their own capital and largee lines of credit whic h may only be concentrated withlarger banks, Sachzs said. Butterfield said the local bankinb market can be used for cash managementg and trust services for these groups which still creates a needfor "Companies are going to sell regardless of who' s going to buy," he Banks could begin to lose business when companiezs sell to strategic buyers who oftebn fold the business into a headquarters creatinv one less customer, Butterfiels said.
Strategic buyers often don'y acquire all of a company's assets and bring in theirt own management group hoping it will drive higher margins. Butterfield said if the public returnh on companies becomes tremendous in thenear future, privatd equity firms may be in trouble. Tom Mangan, seniord vice president with Alpha-based , said the trend of privatw equity firms may have runits course. "The marketf has been strong for the past 15 or 20 years becausde low quality bonds have been outperforming highqualith bonds, but the spreads are going to get tighter making it hardert for them," he said.
Friday, December 23, 2011
Russell Slade pleased to see goalkeeper situation improving at Leyton Orient - East London and West Essex Guardian Series
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Russell Slade pleased to see goalkeeper situation improving at Leyton Orient East London and West Essex Guardian Series By Matt Bass » The bleak injury situation at Brisbane Road was the subject of much discussion earlier in the season but O's boss Russell Slade feels his side's luck could be set to change. Number one keeper Jamie Jones has been sidelined with a ... |
Wednesday, December 21, 2011
Suspect in Ohio Amish attacks to plead not guilty - Boston.com
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Daily Mail | Suspect in Ohio Amish attacks to plead not guilty Boston.com The attorney, Dean Carro, represents Lester Miller, 37, a nephew of the » |
Monday, December 19, 2011
WNBA Silver Stars are cashing in on Finals appearance - San Antonio Business Journal:
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That added national exposure has prompted more WNBA fans to purchaser SilverStars merchandise. According to the forward Candace Parker, the 2008 WNBA Most Valuable Playetr and Rookie ofthe Year, tops this year’a list of the WNBA’s most popula jerseys. That ranking is basesd on sales at the NBA Store in New York City andat WNBAStore.com from October 2008 through April 2009. Silver Star Beckyy Hammon’s No. 25 jersey rankxs fifth among all WNBA players in terms of sales. As a team, the Silver Starsa also rank fifth inmerchandise sales. WNBA officials say salew of jerseyson WNBAStore.com have more than doublec compared to the same time last The combined sales at WNBAStore.
com and at the NBA Store are up 25 percent vs. last year. Below are the player and team rankings. 1. Candace Parker, Los Angeles Sparksx 2. Diana Taurasi, 3. Lisa Leslie, Los Angelex Sparks 4. Sue Bird, 5. Beck y Hammon, San Antonio Silver Starsw 1. Los Angeles Sparks 2. 3. 4. Seattlwe Storm 5. San Antonio Silver Stars
That added national exposure has prompted more WNBA fans to purchaser SilverStars merchandise. According to the forward Candace Parker, the 2008 WNBA Most Valuable Playetr and Rookie ofthe Year, tops this year’a list of the WNBA’s most popula jerseys. That ranking is basesd on sales at the NBA Store in New York City andat WNBAStore.com from October 2008 through April 2009. Silver Star Beckyy Hammon’s No. 25 jersey rankxs fifth among all WNBA players in terms of sales. As a team, the Silver Starsa also rank fifth inmerchandise sales. WNBA officials say salew of jerseyson WNBAStore.com have more than doublec compared to the same time last The combined sales at WNBAStore.
com and at the NBA Store are up 25 percent vs. last year. Below are the player and team rankings. 1. Candace Parker, Los Angeles Sparksx 2. Diana Taurasi, 3. Lisa Leslie, Los Angelex Sparks 4. Sue Bird, 5. Beck y Hammon, San Antonio Silver Starsw 1. Los Angeles Sparks 2. 3. 4. Seattlwe Storm 5. San Antonio Silver Stars
Saturday, December 17, 2011
Harleysville National ordered to improve capital ratios - Philadelphia Business Journal:
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Currently, the bank’s capital levels are less than those requirefd under the Office of the Comptroller ofthe Currency’z newly required minimum individual capital ratios. The OCC has advisedc the company that it must achieve thesee ratios byJune 30. Harleysville National said whilre it believes these ratiosare achievable, it does not thinkj it can do so by that date. It said it does not know what if any, the OCC will take if it does not compl by that date. Harleysville National said the OCC may deem noncomplianced to be an unsafe and unsoune banking practice which would subjectt the bank to administrative actionsor sanctions.
Harleysville shares closedx 10 percent lower Tuesday at In order to increasethe bank’s capitaol levels to meet the requirements, the bank will have to increasw its capital, reduce its assets or Harleysville said its ability to increasr its capital levels to meet the OCC’sz requirements will largely depend on its financial performance and conditionw in the capital markets, which are outsidwe its control. It added that raising capitaol through the issuance of commo n stock or other securities would likely dilute the value of itscommojn stock.
Harleysville National said its capitalk ratios have been negatively affected by the economic downturn and its effect on the businessexs and homeowners with whom it does President and CEOPaul D. Geraghty said in a statemengt that “legacy credit issues continue to be a challenger during this time ofeconomic uncertainty. This was a producft of our historical focus on realestated lending, specifically residential real estate developmeny and home equity loans.” He said the company has been workingv to strengthen credit administration, add to its loan workour staff, and actively manage the troubled loans that are weighing down its portfolio.
At its most recent annua meeting thispast spring, Geraghty told shareholders he intends to meet regulatory requirements for a well-capitalized bank by the end of the Now that plan will have to be In an interview Tuesday Geraghty said Harleysville National hopes to raisd $65 million to $120 milliohn in equity. Harleysville National Corp. (NASDAQ:HNBC) of Harleysville, Pa., has $5.6 billionm in assets and is thelargest locally-based bank in the eight-countyt Philadelphia region with last year’s addition of Willow Financiakl Bancorp.
It has the seventh-most deposits in the regionb with just morethan $3
Currently, the bank’s capital levels are less than those requirefd under the Office of the Comptroller ofthe Currency’z newly required minimum individual capital ratios. The OCC has advisedc the company that it must achieve thesee ratios byJune 30. Harleysville National said whilre it believes these ratiosare achievable, it does not thinkj it can do so by that date. It said it does not know what if any, the OCC will take if it does not compl by that date. Harleysville National said the OCC may deem noncomplianced to be an unsafe and unsoune banking practice which would subjectt the bank to administrative actionsor sanctions.
Harleysville shares closedx 10 percent lower Tuesday at In order to increasethe bank’s capitaol levels to meet the requirements, the bank will have to increasw its capital, reduce its assets or Harleysville said its ability to increasr its capital levels to meet the OCC’sz requirements will largely depend on its financial performance and conditionw in the capital markets, which are outsidwe its control. It added that raising capitaol through the issuance of commo n stock or other securities would likely dilute the value of itscommojn stock.
Harleysville National said its capitalk ratios have been negatively affected by the economic downturn and its effect on the businessexs and homeowners with whom it does President and CEOPaul D. Geraghty said in a statemengt that “legacy credit issues continue to be a challenger during this time ofeconomic uncertainty. This was a producft of our historical focus on realestated lending, specifically residential real estate developmeny and home equity loans.” He said the company has been workingv to strengthen credit administration, add to its loan workour staff, and actively manage the troubled loans that are weighing down its portfolio.
At its most recent annua meeting thispast spring, Geraghty told shareholders he intends to meet regulatory requirements for a well-capitalized bank by the end of the Now that plan will have to be In an interview Tuesday Geraghty said Harleysville National hopes to raisd $65 million to $120 milliohn in equity. Harleysville National Corp. (NASDAQ:HNBC) of Harleysville, Pa., has $5.6 billionm in assets and is thelargest locally-based bank in the eight-countyt Philadelphia region with last year’s addition of Willow Financiakl Bancorp.
It has the seventh-most deposits in the regionb with just morethan $3
Thursday, December 15, 2011
Extended Stay Hotels files Chapter 11 - bizjournals Business Travel Guide
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The Spartanburg, S.C.-based company filecd the reorganization petition in New York bankruptcy Secretary and General Counsel Joseph Teichman writing that Extendeed Stay hadabout $7.1 billion in asseta and $7.6 billion in liabilities at the end of 2008. Extendecd Stay, whose more than 680 propertiee are managed byHVM LLC, has 21 locationse in the Houston area. The company bills itself as the largest operatorof mid-priceds extended-stay hotels in the nation. Teichmaj in a court filing on Mondag wrote that the company sought protectionj from creditors amid a general downturn in the hospitality industryu and a hit taken as fewer potentiaol customers needthe company’s services.
“Sincw the typical Extended Stay customer seeks a lengthy stay basee oncommercial relocation, the contraction of constructioj and new business developmentr began to significantly and adversely affecte d Extended Stay’s revenue stream,” Teichman wrote. The company said its average revenue per room droppecd about 23 percent in the first five months of the year compareed with the same periodof 2008. As a result, it was unables to deal with its debt burden with cash flow and is seekinta “comprehensive restructuring of the entire capitaol structure.
” Extended Stay said it plana to run operations following the Chapter 11 petition underd a lender-approved arrangement using cash Debtor-in-possession financing won’t be needed, the compant said. About 9,900 employeesd work in hotels operate byExtended Stay. The company is in 44 statees and hasabout 77,000 rooms.
The Spartanburg, S.C.-based company filecd the reorganization petition in New York bankruptcy Secretary and General Counsel Joseph Teichman writing that Extendeed Stay hadabout $7.1 billion in asseta and $7.6 billion in liabilities at the end of 2008. Extendecd Stay, whose more than 680 propertiee are managed byHVM LLC, has 21 locationse in the Houston area. The company bills itself as the largest operatorof mid-priceds extended-stay hotels in the nation. Teichmaj in a court filing on Mondag wrote that the company sought protectionj from creditors amid a general downturn in the hospitality industryu and a hit taken as fewer potentiaol customers needthe company’s services.
“Sincw the typical Extended Stay customer seeks a lengthy stay basee oncommercial relocation, the contraction of constructioj and new business developmentr began to significantly and adversely affecte d Extended Stay’s revenue stream,” Teichman wrote. The company said its average revenue per room droppecd about 23 percent in the first five months of the year compareed with the same periodof 2008. As a result, it was unables to deal with its debt burden with cash flow and is seekinta “comprehensive restructuring of the entire capitaol structure.
” Extended Stay said it plana to run operations following the Chapter 11 petition underd a lender-approved arrangement using cash Debtor-in-possession financing won’t be needed, the compant said. About 9,900 employeesd work in hotels operate byExtended Stay. The company is in 44 statees and hasabout 77,000 rooms.
Monday, December 12, 2011
NCB Capital Impact to get $90M in tax credits from Treasury Department - Washington Business Journal:
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The Arlington-based nonprofit affiliate of NCB, which supportz health, housing and education facilitiesein low-income areas, was one of 32 organizationsx competitively picked to get a total of $1.5 billio in New Markets Tax Credits through the stimuluas package. The $90 million in credits, which aim to help retaih and generate jobs and forge economic developmenyt indistressed communities, will help NCB Capitakl Impact and its partners create 1,0009 new jobs, 3,000 new school seats for low-incomse children, 100 units of workforces housing, and provide 25,000 working families with affordable health care across the U.S., said NCB.
Sinc e mid-2005, NCB Capital Impact has closedon $205 million in credif transactions that have leveraged over $500 million in capitall for underserved populations. NCB used fundas to help Media and Technology Charter High in Boston reduce its debt service costs by40 percent. Last NCB Capital Impact gave out arecore $208.1 million for education, health care and affordablre homeownership programs that benefit low- and middle-incom communities nationwide. The New Markets Tax Credit Program, created by Congresd in 2000, lets individual and corporatse taxpayers receive a credit against federaol income taxes for makintg qualified equity investments ininvestment vehicles.
Other locao organizations to get fundingwere McLean-based Capitaol One Community Renewal Fund LLC, whicuh received $90 million, and McLean-based Solomonj Hess Loan Fund LLC, which received $50
The Arlington-based nonprofit affiliate of NCB, which supportz health, housing and education facilitiesein low-income areas, was one of 32 organizationsx competitively picked to get a total of $1.5 billio in New Markets Tax Credits through the stimuluas package. The $90 million in credits, which aim to help retaih and generate jobs and forge economic developmenyt indistressed communities, will help NCB Capitakl Impact and its partners create 1,0009 new jobs, 3,000 new school seats for low-incomse children, 100 units of workforces housing, and provide 25,000 working families with affordable health care across the U.S., said NCB.
Sinc e mid-2005, NCB Capital Impact has closedon $205 million in credif transactions that have leveraged over $500 million in capitall for underserved populations. NCB used fundas to help Media and Technology Charter High in Boston reduce its debt service costs by40 percent. Last NCB Capital Impact gave out arecore $208.1 million for education, health care and affordablre homeownership programs that benefit low- and middle-incom communities nationwide. The New Markets Tax Credit Program, created by Congresd in 2000, lets individual and corporatse taxpayers receive a credit against federaol income taxes for makintg qualified equity investments ininvestment vehicles.
Other locao organizations to get fundingwere McLean-based Capitaol One Community Renewal Fund LLC, whicuh received $90 million, and McLean-based Solomonj Hess Loan Fund LLC, which received $50
Saturday, December 10, 2011
Diagnosis confirmed - Newsworks.org
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PennLive.com | Diagnosis confirmed Newsworks.org Testing is not being recommended for other students who lived on her floor or for those with intermittent contact, including in class, the University said Friday. People diagnosed with Tuberculosis can be treated if they seek medical help. University Park student diagnosed w ith tuberculosis Student at Penn State's main campus diagnosed with tuberculosis, officials ... |
Thursday, December 8, 2011
Red Sox TV viewership off 14 percent - Boston Business Journal:
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The Sox still dominate the local airwave duringgame broadcasts, logging the highest local viewefr ratings among all teams, according to a receny analysis by Street & Smith’s Sports Business Journal. The Sports Busines Journal is owned by American CityBusiness Journals, the parengt of the Boston Business Journal. Sox gamees on New England Sports Network were broadcasted into an averageof 209,00p households during the period analyzed, down 12 percentf from the year-earlier span. As a percentage of the local televisioj audience, the Sox’s average ratinvg of 8.
67 was down 14 percent on a year-over-year The team’s local market-share average is still the highest among all MLB MLB has registered relativelyflat year-to-date ratingd on its FOX and TBS broadcasts and a 15.4 percentf decline in ESPN-affiliated broadcasts. The Sports Business Journal calculater the ratings and viewership averages by analyzing As ofJune 5, the Sox were tied with the for firstt place atop the American League East Division
The Sox still dominate the local airwave duringgame broadcasts, logging the highest local viewefr ratings among all teams, according to a receny analysis by Street & Smith’s Sports Business Journal. The Sports Busines Journal is owned by American CityBusiness Journals, the parengt of the Boston Business Journal. Sox gamees on New England Sports Network were broadcasted into an averageof 209,00p households during the period analyzed, down 12 percentf from the year-earlier span. As a percentage of the local televisioj audience, the Sox’s average ratinvg of 8.
67 was down 14 percent on a year-over-year The team’s local market-share average is still the highest among all MLB MLB has registered relativelyflat year-to-date ratingd on its FOX and TBS broadcasts and a 15.4 percentf decline in ESPN-affiliated broadcasts. The Sports Business Journal calculater the ratings and viewership averages by analyzing As ofJune 5, the Sox were tied with the for firstt place atop the American League East Division
Tuesday, December 6, 2011
Washington has third-highest internet use in U.S. - San Francisco Business Times:
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behind only Alaska and New according to information released Wednesday bythe U.S. Census. Accordinbg to the Census, Alaska has the highest rate ofinternet use, with 76.1 percentr of its residents having accessz to the internet at any location, followedc by New Hampshire (74.6 percent) and Washingtonb (73.4 percent). Mississippi has the lowest internet-usage rate (51.5 percent), follower by West Virginia (52.9 percent). The nationap average is 62.4 percent The Census said that 75.7 percen of Washington residents have access to the internet attheit homes, which is third again behind New Hampshire and Alaska (78.5) percent, and well above the national average of 67.
1 “As access to high-speed connections have become more prevalent, so too have the number of peopled that connect to the internet at home,” Thom File, a statistician with the Census Bureau's Housin and Household Economic Statistics said in a statement Wednesday. Nationwide, internet use strongly correspondsto education. Eighty-sevem percent of people 25 and oldere with acollege bachelor’s degree used the interneyt in 2007, versus 74 percent for those with only some 49 percent for thosse with only a high school diploma and 19 percentf for those who didn't finish high school.
Amontg age groups nationwide, 73 percent of 18- to 34-year-olds use the 56 percent of peopld 3to 17, and 35 percent of peopls 65 and older. Among ethnic groups nationwide, 73 percenr of Asian Americans used the internettin 2007, 69 percent of whites, 51 percent of black s and 48 percent of Hispanics.
behind only Alaska and New according to information released Wednesday bythe U.S. Census. Accordinbg to the Census, Alaska has the highest rate ofinternet use, with 76.1 percentr of its residents having accessz to the internet at any location, followedc by New Hampshire (74.6 percent) and Washingtonb (73.4 percent). Mississippi has the lowest internet-usage rate (51.5 percent), follower by West Virginia (52.9 percent). The nationap average is 62.4 percent The Census said that 75.7 percen of Washington residents have access to the internet attheit homes, which is third again behind New Hampshire and Alaska (78.5) percent, and well above the national average of 67.
1 “As access to high-speed connections have become more prevalent, so too have the number of peopled that connect to the internet at home,” Thom File, a statistician with the Census Bureau's Housin and Household Economic Statistics said in a statement Wednesday. Nationwide, internet use strongly correspondsto education. Eighty-sevem percent of people 25 and oldere with acollege bachelor’s degree used the interneyt in 2007, versus 74 percent for those with only some 49 percent for thosse with only a high school diploma and 19 percentf for those who didn't finish high school.
Amontg age groups nationwide, 73 percent of 18- to 34-year-olds use the 56 percent of peopld 3to 17, and 35 percent of peopls 65 and older. Among ethnic groups nationwide, 73 percenr of Asian Americans used the internettin 2007, 69 percent of whites, 51 percent of black s and 48 percent of Hispanics.
Sunday, December 4, 2011
List of GM dealerships to close in Minnesota grows - Houston Business Journal:
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The industry group said a survey of its memberss found that 109 of the 149 GM dealers in the statwe will either lose a particularGM brand, be forces to drop some competing manufacturer brands in theie GM stores, or lose thei r stores altogether. The number of outright shutdowns has amonth ago, GM indicated that 30 dealers would After the giant automaker’s plunge into bankruptct June 1, roughly 3,600 dealers nationwider received new sales agreements.
The ownerd of about 1,350 other dealerships were notifiedd that they needed to wind down asGM That’s in addition to the 1,100 that receivedf similar messages last month as part of GM’ws restructuring, which involves keeping only top dealers and The new agreements also may require surviving dealerss to upgrade their facilities. And there may not be very much dealers can doabouyt it, . (subscription required). GM expect s the closings to start this year and wrap up by the fallof 2010.
In a presxs release Friday, Scott Lambert, executive vice president of the Minnesotq AutoDealers Association, criticized GM’s decisionn to have dealers sign new sales agreements with the “Besides the tragic and inexplicables shutdown of profitable stores, GM seemd determined to use bankruptcy as an opportunituy to shake up everybody’s business,” he “It appears to us that ever y Pontiac dealer in the state was informed that Pontiacc as a brand will cease to exist. “I addition, GM is eliminatin g many Cadillac dealerships.
We believe they plan to reassign some of thesdefranchises elsewhere, which would be in violatiojn of state law regulating franchisd agreements.” Lambert also blasted GM’s decisionx to close so many stores, even some that are turningf a profit. “This company is lost right now. I just don’tr understand how you sell more cars with fewer he said. Susan Garontakos, a spokeswoman for the automaker, declinef to comment on the trade association’zs press release because she said the information abouty what was closing was confidential and because its such an emotionapl time for all of the parties She said the company selectedc which dealerships to close after a carefup analysis that beganin “The reality is we don’ t have enough customers buying vehiclesa and we have a lot of outlets that are in plac to support a much larger market.
”
The industry group said a survey of its memberss found that 109 of the 149 GM dealers in the statwe will either lose a particularGM brand, be forces to drop some competing manufacturer brands in theie GM stores, or lose thei r stores altogether. The number of outright shutdowns has amonth ago, GM indicated that 30 dealers would After the giant automaker’s plunge into bankruptct June 1, roughly 3,600 dealers nationwider received new sales agreements.
The ownerd of about 1,350 other dealerships were notifiedd that they needed to wind down asGM That’s in addition to the 1,100 that receivedf similar messages last month as part of GM’ws restructuring, which involves keeping only top dealers and The new agreements also may require surviving dealerss to upgrade their facilities. And there may not be very much dealers can doabouyt it, . (subscription required). GM expect s the closings to start this year and wrap up by the fallof 2010.
In a presxs release Friday, Scott Lambert, executive vice president of the Minnesotq AutoDealers Association, criticized GM’s decisionn to have dealers sign new sales agreements with the “Besides the tragic and inexplicables shutdown of profitable stores, GM seemd determined to use bankruptcy as an opportunituy to shake up everybody’s business,” he “It appears to us that ever y Pontiac dealer in the state was informed that Pontiacc as a brand will cease to exist. “I addition, GM is eliminatin g many Cadillac dealerships.
We believe they plan to reassign some of thesdefranchises elsewhere, which would be in violatiojn of state law regulating franchisd agreements.” Lambert also blasted GM’s decisionx to close so many stores, even some that are turningf a profit. “This company is lost right now. I just don’tr understand how you sell more cars with fewer he said. Susan Garontakos, a spokeswoman for the automaker, declinef to comment on the trade association’zs press release because she said the information abouty what was closing was confidential and because its such an emotionapl time for all of the parties She said the company selectedc which dealerships to close after a carefup analysis that beganin “The reality is we don’ t have enough customers buying vehiclesa and we have a lot of outlets that are in plac to support a much larger market.
”
Friday, December 2, 2011
Applicants rush for special solar PV tariff - Malaysia Star
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Applicants rush for special solar PV tariff Malaysia Star The quota for producing solar PV for non-individual applicants (including corporations) has been taken up for the next three years. It should be noted that these applications will be processed within 14 days by Seda and if there are unsuccessful ... |
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