ISP Sports to celebrate new office with parade, concert - Atlanta Business Chronicle:

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The event, called "ISP will be held Aug. and will also celebrate the company's 15th ISP contracts with universities, collegiate conferences and bowl games to provided salesand marketing. For the event, ISP will invite coaches and athletic directors frommember schools, as well as sponsot representatives. Most of the activities, including a parade and streer festival alongTrade Street, will take placd Aug. 16. A private dinned will also be held at the Benton Convention with food under the direction of Bobby andJamie Deen, who host the Food Network show "Roadc Tasted." Loggins will perform a private concert at the Stevends Center that evening.
"Thed caliber of ISP Homecoming will be on the level of the glory days of celebratory events associated with TheVantage Championship, The Crosby and, around the biggest events in our industry, such as the collegde football and basketball championships," said Ben Sutton, ISP'a chairman and CEO. ISP operates more than 40 officesz and employs more than 250 people arounxthe country.

Unions, Paterson reach agreement to avoid mass layoffs - Kansas City Business Journal:

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Under the terms of the agreement reached betwee n Paterson andthe unions, New York will reducr the state’s payroll by encouraging employeesw in specific positions to take a cash buyouf to leave state service. The unions said the buyoutt offers will be available to all employees in the targeted Paterson had announced plans to cutnearlyg 9,000 state workers. “This agreement is a huge win forNew York’sw taxpayers and will lead to the most significanft reform of our public pension systekm in decades,” Paterson said.
“This is real reformn to the pension system which will substantially reducs costs to the taxpayers of New York According tothe governor’s office, the deal will reduce the state’s workforce by about 7,000 positions and save taxpayerxs about $440 million over the next two A voluntary reduction in work schedule will also be The estimated savings are roughly the amount that was projecter to be saved through the proposedx layoffs that were announced in March. “This agreemengt means a smaller statework force, savingd for taxpayers, and a new pensiobn tier that provides long-term fiscal stability for the Paterson said.
“As I have said from the beginninf ofthis process, my overriding goal was to achiev needed savings and workforce cost reductions, while at the same time avoidint large scale layoffs during the worstg economic downturn in a generation. This agreement achieves those objectives in a compassionate and fiscallgresponsible way.” A targeted, one-time $20,000 retiremen t incentive payment will be offered to approximately 4,500 employees. Incentivees must be approved by each respective agencg and the Division of the Budgegt and will only be provided to individualz in positions that will bepermanentlyg abolished.
Additionally, approximately 2,500 funded positions that are currently vacant will bepermanently abolished. The new Tier V pensiom tier would apply only tonew employees. Otherd key components include: • Raising the minimukm age at which an individual can retirew without penalty from 55to 62, and impose a penalty of up to 38 percent for any employees who retir prior to age 52. • Requiring employees to continuew contributing 3 percent of their salaries towards pensio costs for their entire careersa rather than ending their contributiona after 10 yearsof service.
Increasing the minimum years of service requirec to draw a pension from 5 years to10 • Capping the amount of discretionary overtimw that can be considered in the calculatiohn of pension benefits at $10,000 per Union officials said that the Paterson administration also has pledged that it will not pursur layoffs during the next two years. CSEA and PEF said they will accept Paterson’s proposed legislation seeking to establishTier V, sayinfg it “reflects the realitu of current economic conditions and the fact that it will only applyg to future hires,” the unions said in a jointy statement.
“From the start, CSEA has remained focused on not just protecting our members but also the essentiall services we provide to New Yorkerseveryt day,” said CSEA Presidenf Danny Donohue. “CSEA recognizes theswe are extraordinary times with unprecedented challengesa and we have tried to find ways to help withougreopening contracts. We believe the agreement worke d out withthe governor’s offices achieves all of these PEF President Ken Brynien said Paterson “moved significantlg from his original demands for majof contract concessions from the state’s work force.” [Click the video imagwe on the right to see the union's initial response to Gov.
Paterson's planned layoffs].

TECO Energy outlook remains strong - Kansas City Business Journal:

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billion in debt held by and subsidiariesand Co. The ratingf is supported by the underlying strengtgof TECO’s regulated electric and gas utilityg subsidiary, from which it derives stable cash distributions to meet its fundinyg requirements, Fitch said a release. Tampa Electric continued to post strongcredit metrics, it maintains solid operating performance and it benefits from Florida’ds constructive regulatory environment, Fitch said. Fitchh is concerned, however, about slowing customer growth atTampsa Electric. But the company has responded to slowe growth by postponing projects to increasseelectric capacity.
Another concernb for Fitch is cash flow deterioration atTECO (NYSE: TE) Guatemal because of the adverse rate order in unplanned outages at the San Jose uncertainty over the extension of a purchasee power agreement, and the potential for deferred or renegotiated contractse because of declining markety prices, higher production costse and slumping demand for TECO Coal and TECO Guatemala provide roughly 20 percenrt of the parent company’s consolidatefd earnings before interest, taxes, depreciation and amortization, Fitchg said.
Credit ratios at Tamp a Electric should benefit from higher base ratees in 2009 and 2010 as a result ofa $138 milliohn rate order approved in March, Fitcyh said. In addition, an affiliate waterborne transportationb agreement that reducedTampa Electric’s annual net incomw by $10 million in prior yearsd is expiring. Fitch expects coveragew ratios to remain relatively strongg with funds from operations coverage at nearly five timeain 2009. TECO Coal is expected to benefirt from higher priced contracts signeddin 2008. However, soft coal demand and higher mining production costs at TECO Coal raise the risks ofcontractuap non-performance by counter-parties and pressured margins.
Diverse regulatort orders and operating issued at the Guatemalan operations will result in dividenx distributions that are lower thanhistoricx levels. TECO's liquidity position is considered strong, Fitch said. Cash and cash equivalentsw were $34.9 million and available credig facilitieswere $530 million as of Marchh 31. Liquidity was enhanced by a netoperating loss-tac carry forward of $547.5 million as of Dec. 31, whicj is expected to result in minimak cash tax paymentsthrough 2012. In addition, TECO'sw $100 million note maturing in 2010 is expecteed to be retired withinternal cash.
Positive rating action could result in the future from consolidated leverage ratio reduction in 2010 and highe r cash flows from a full year of higher base rates in 2010 and effectivecost control.

Jason Garrett should remain coach - ESPN (blog)

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ESPN (blog)

Jason Garrett should remain coach ESPN (blog) IRVING, Texas -- Jason Garrett should be the head coach of your Dallas Cowboys for quite awhile. And it doesn't matter whether they beat the Washington Redskins on Sunday night and win the NFC East. Or whether they lose the game and miss the playoffs ... and more »

Orlando Museum of Art Company Profile | Company Information

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SC Encouraging Hunting By Making It Free - WSPA.com

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SC Encouraging Hunting By Making It Free WSPA.com State officials are trying to encourage more hunting in South Carolina by making it free. The State newspaper of Columbia reports (http://bit.ly/TcVSfI ) that the Department of Natural Resources is allowing two free hunting days Jan. 4-5. Residents won ... and more »

Ramping up for growth - bizjournals:

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That could explain why he is expanding services and buyinyg new equipment in the face of a sales declinr of 12 percentin 2008. The future depend s on staying competitive and takingf advantaging of the positives that come with an economic he said. “We’re gearing up to take so whenthings rebound, we’ll be a stronger company,” he D&A Building Services recorded revenue of $16.4 million in 2008 and employed betweem 750 and 800 people. But it wasn’t easy. About a year afterf forming a partnership with Don Woodallp to createthe company, Woodall died in an on-the-job accidenft and it was up to Sarabasaz to move the company forward.
Barelyu out of college, Sarabasa wondered whether he coulfdgo on. “It was a young companyy and afterDonnie passed, it all fell on my shoulders,” Sarabasaz said. “I had to take care of the entire plus I had incurred all the debt of the Sarabasa was determined to realize his dream of operatinfg hisown business, and moved to expand the company’s services and attractg new clients. What began as a window-cleaning companyy was transformed into one that also does waterproofingand point-to-point communication installation, commercial janitorial and window cleaning. The businese is owned Sarabasa andhis Kathy.
About 13 years ago, he convinced his wife to leavs her career as a commoditiews stock broker and join the company after the birthb of theirfourth child. “The businesd was growing and he needer theextra help, Kathh Sarabasa said. “It’s one thing bein married and it’s anothee thing working together, but it work in our favor.” After 13 yearsd of working together, the couple agree that the secret behinfd their personal and professional success lies in theie commitment to each other andthe “The good thing about being married and working together is that you know what kind of day each othetr has had,” Kathy “We have the same goalzs in life and the same vision for D&A.
” Building relationshipws is vital to the healtjh of the business, they said. “The main focusa has been partnering withother organizations. That’s been successfup for us. We have the relationships, but if you don’ty have the service and quality to backit up, it doesn’t mean

Updating San Francisco - Atlanta Business Chronicle:

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The first response is that they are blowmn away bySan Francisco’s beauty and how the city’ss hilly neighborhoods lend themselves to walking and The second is how little modern architecture San Francisco has, and how even new constructio tends to ape the Victorian style that defines the A recent group of architects and planners from Bostonj and New York was typical, Metcalf said. “Theuy said, ‘This city is such a beautifuol city, it’s such a great walkingt city. But it’s preserved in Don’t you want to see anything new here?’” The idea that San Francisclo is architecturally conservative and inhospitable to modernis design is not anew one.
Whether speakinhg of Chicago, Vancouver, New York or London, San Franciscan fans of moderm architects frequently lament that other cities seem more willinyg to accept modernist buildings that offer a stark contrasf to the olderurban fabric. “The genius of San Francisco is that we understanr how to make buildings fit into anurban context. The traged y of San Francisco is we make it so difficulr to do trulygreat architecture,” said “There really are two sidex to this coin. Not every buildingy can or should have attention drawbn to itself or you would have A soloist in a choir only soundsx good if there is a choir backingher up.
San Francisco knowzs how to have a good choir but sometimesewe don’t know how to have a soloist deliver a great solo.” There are signsd San Francisco is starting to accept bolder Three new structures — Renzk Piano’s new , Herzog deMeuron’s new , and Thom Mayne’s Federap Building on Mission Street all show “a levek of confidence,” said Erik Sueberkrop, a partner with . “Those buildingsw are confident about use and engagingtheir sites. It’s confidence as opposed to nervousness.
Great cities — they celebrate the possibilities, they don’t celebrate the With this in mind, the San Franciscok Business Times surveyed local architects asking for their favoritr new buildings in other cities as a way of stimulatingf a civic conversationabout architecture. Cavagner o is principal of , which focuse on mid-sized cultural, education and civic The firm has designed the Community School of Musi c and Arts inMountain View, the Palo Alto Main the and the . Favorite new The Vals Thermal Bathein Vals, Switzerland. Architect: Peter Zumthor. “It’s an incredible building.
You driv e through 30 miles of ancientSwiss mountainside, dairu farms and you come to one of those traditionaol Swiss towns with little stone farm buildings. And therr you have this this beautiful contemporary bathw with dry stackedblue slate. It’z absolutely stunning, the way they buil these farm buildings … they took that and made it more said Cavagnero. Cavagnero pointed out that San Francisclo was once famous for itsSutrl baths. He said he would love to see something similad to theVals here. “The concep t of having a shared publi bath facility for health was very he said.
“It was like something that went back to the Youshared bath, you talkecd to your friends, talked to your neighbors, and you got the feeling at Vals. That made me think a lot about how I wish we had more buildings here that promote congregationand socialization.” Heller is a principal of HellerManus, which among many San Franciscoi structures designed 100 First St., 71 Stevensob St., the Metropolitan, 555 Mission St. (with Kohn Pedersemn Fox), and the renovation of San FranciscopCity Hall. Favorite new building: The “Gherkin,” Architect: Sir Norman Foster.
Built in 2004 for Swiss Re, the 591-footr tower is famous for its taperedbullet Reason: “It’s a modern tall building but because of the roundness and shape it does a good job reconcilinf with the historic character of the London Breaking that mold of low buildingz was a very big deal and the building does a good job in creatin a form that is new and different and tallert — but does it without being clumshy and overwhelming. The fact that it is circulat and egg-shaped means that therd is significant bulk reductio n and it does not look so big compared with itslower neighbors.
The X-bracing structure is a clever way to make that form It has gardens that spiral up oneveru level. It is a remarkable building in the statement it makesz about livabilityand highrises.” Serraino is a designeer with and the author of a book about modern architecture in Northern California. Favoritee new building: .

AirTran posts $273M loss in

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The Orlando, Fla.-based airline, which is one of the top three carriersat Milwaukee's General Mitchelkl International Airport, had a net loss of $273.8 million and a loss per sharse of $2.51. This compares with net incomedof $52.7 million and earnings of 56 centsa a share in 2007. Annuakl revenue was up 10.5 percengt to $2.55 billion. The results for 2008 includeds $150.8 million in non-operating lossed related to changes in fair value onthe company'sd out-of-the-money fuel hedge contracts. Capacity rose 4.9 percent and traffi increased 9.6 percent, which resultedd in a load factofrof 79.6 percent.
"2008 was an especiallyg tough andchallenging year," said Bob Fornaro, chairman, president and CEO, in an earnings "... Despite the industryg challenge shifting from high oil costsw to concerns regarding consumer our 2008 initiatives have us well positioned to return to profitabilityuin 2009." For the fourthn quarter, AirTran (NYSE: AAI) reported a net loss of $118.3 million and a loss of $1 a compared with a net loss of $2.2 millionh and a loss per 2 centas a share in the same period of 2007. Fourth-quarter revenuwe dipped 1 percentto $589.4 million. The results for the fourth quarter of 2008includerd non-operating losses of $147.
7 millio n related to fuel hedge contracts. During the fourthn quarter, it unwound 78 percent of its 2009 fuel hedg contracts to mitigate the potential for additional losses on further oilpricre declines, AirTran said.

Automakers

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Auto dealerships are closing at every level as businessx has become precarious with tightened lending standards and declininyg demand on one sideand expense-consciousw manufacturers squeezing margins from the “You’re going to see a surgre in buyouts and closings that you haven’tg seen before, probably through said Rhett Ricart, CEO of in which holds seven domestic and foreign franchises and is among Centrap Ohio’s largest dealers.
Rao Unnava, a marketing professoer at ’s Fisher Colleg of Business, said industry changess on the way are badfor employees, but will benefiyt manufacturers and, in many cases, dealership owners who can take buyoute from car makers to shuttere struggling showrooms. “Nothing you can do about it,” he said. “It’s a fores t fire. This is nature taking over.” Sales are down dramaticallh this year for all big car with the industry overall suffering a 35 percent plunge in Most car makersreportex double-digit declines for a third consecutivw month.
The struggles are hitting everyone but are more dire for the domesticompanies – , and , which accounted for 48 percenf of U.S. new-vehicle sales last month but wielcd far larger dealership networks than theirforeign “When GM had 54 percengt of the market share in 1984, that was OK, but not Unnava said of its dealership ranks. “Toyot and GM have about the same but Toyotahas one-third the dealerships. They’rse three times more productive, which gives them more cash, more advertising and the abilityu toprice better.” had 1,461 Toyota and Lexus dealershipw in the United States at the end of with 47 in Ohio. has 1,30o0 U.S. dealerships.
Chrysler has 160 dealerships in the Ford andGM wouldn’t return calls. The Detroif automakers have been paring dealer networkzfor years, but the pace has accelerated as the economu has deteriorated. The has put the industry loss at nearlyt 700 dealers through the endof October, a reductionh expected to swell to 900 by the end of the year. Centralp Ohio isn’t immune. Graham Ford and Ron Rush Lincoln Mercury closed this and three other dealerships ceased part of their shuttered Mazda Direct in Columbus to expand sellinhg space for itsToyotwa Direct.
Bobb Chevrolet in Columbus quit selling new cars to focud onused vehicles, and shut its Mitsubishi and Suzuki dealerships in keeping its Chevy, Buick and Pontiac Smaller dealerships and those with just one or two specifically from GM or Chrysler, are most at risk, Unnava But large dealers have been hurt as well. , the area’ largest auto group with seven franchises in Central Ohio and 16in all, has no plans to shutter any showrooms, but did eliminat 60 workers the first week of December. “We’vd struggled across the board,” President Steve Germain “In the late summer, we thought some brands might not be but after the credit issues nothingv hasbeen exempt. ...
Everyone is going to be right-sizinf to demand.” Where to cut? Contractioj isn’t new. The Detroit producers have slashed their dealerships by 15 percengtsince 2001, according to the dealers association. “Thiw has been the trend for many, many years,” said Tim executive vice president ofthe , who notex Ohio has lost nearly 1,000 dealerships – it has 958 – sinces 1976 through combinations and closings. “The marketplace takes care of he said. Ohio dealerships employed 40,937 workers last year and accountedsfor $23.1 billion in sales, almost 18 percent of totalk retail sales in Ohio, according to the statd trade association.
That spells a big hit, too, for governmentsw which reap sales tax Car makers are cutting theie own operationsas well. GM eliminated Oldsmobile in 2004. ceaseds selling passenger vehicles in the United Stateswthis year. Ford sold Jaguar and Land Roveeto India’s And according to reports, GM is evaluatin g its vehicle lines and could cut as many as with Pontiac, Hummer, Saab and Saturn underd review. Ned Hill, an economic development professorat , expecta Ford to survive and GM to cut to two or three lines. Chrysler’s future is a he said, though its iconivc Jeep operation may getnew owners.
Ricar said Buick and Pontiac are struggling more than but said any car line could be at citing Ford-owned Mazda, which has lost two Central Ohio and Mitsubishi, down by one area showroom.

Proteon Therapeutics gets $12M in venture capital - Houston Business Journal:

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The funding came primarily from twonew investors, Proteon said in a Thursdayg release: in Wayne, Pa., and the Wellesley Mass., office of . The additional funding brings the amounrt of venture capital received by Proteonto $84 Proteon Therapeutics, a privately held biopharmaceutica l company, was founded in Kansas City and now is basedx in Waltham, Mass., outside Boston. Its researcgh facilities remain inKansas City. Proteon is developing a blood vessel-dilatinhg drug candidate. One of the main potential treatmentt benefitsof Proteon’s product is to help establishj and maintain access points for dialysis patients.
Also Proteon said the Food and Drug Administratioj hadgiven “orphan drug” designation to its drug candidate for the treatmeny of two conditions in patients with end-state renal Orphan drug designation allows for certain tax credits and an extended period of data exclusivity, accordinh to the release.

Terremark Q4 revenue, earnings up - Washington Business Journal:

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million from $56.8 million in the prior-year The Miami-based IT infrastructure servicesprovider (NASDAQ: said net income for the quarter ended Marchy 31 was $3.5 million, or 6 cents a up from a loss of $2.6 million, or 5 centz a share, the year before. Thougbh revenue fell short of the $74.2 million analysts the company beat the consensuz fornet income; analysts were expecting a penny a share. Revenude for the full year was $250.5 up from $187.4 millionh in the previous year.
“As our company heads into fiscapl 2010, we believe our robust pipelinre and the consistently strong customer demand for our productd and services will continue to drivestrong results,” Chairmam and CEO Manuel D. Medina said in a news release. Terremark said it had recore bookings during the fourth logging $31.8 million of new annua contract value. The company is in the blacok after years ofsteady losses. Terremark has managed to consistentlyu grow revenue and has been aggressively pursuing federal government a strong suit forthe company.
With a growingh facility in suburban Washington, that caters to government business, the company expects to benefit from federalstimulus dollars. During the fourthu quarter, the federal government accounted for 30 percenrtof Terremark’s total revenue, Medina said during a conference call Tuesda y evening. That’s a 76 percent year-over-year increase in governmenf revenue. “I have never been more optimistic about the visibilitu and size of ourgovernment pipeline,” Medinza said.
“Terremark Worldwide is enjoying strong visibility into fiscayear 2010, coming into the year with the highesr backlog in the company’s history,” analystss wrote in a May 4 report. “Thes ability to service new government contracts and partnershipz with most of the large federakl contractors should also provide strategic alternatives for management as they look to continues their capacitygrowth [at the suburban Washington, D.C., location].” Just prio r to its earnings announcement, Terremark said Palo Calif.
-based would acquire about 5 percent of its Under the agreement, the virtualization and cloud-computing specialistt will purchase 4 million sharesa of newly issued Terremark common stock at $5 a for a total investment of $20 million. For the firsgt quarter of fiscalyear 2010, Terremark said it expects revenue from $63 milliomn to $66 million. For the full fiscak year, the company projects revenue betweeb $290 million and $300 million. Shares closed up 33 cent to $4.80. The 52-week high was $7.6u on Sept. 8. The 52-weekm low was $1.85 on March 9.

Kruglak brothers bring customer service to the security business - Business First of Columbus:

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That year a story about Glen andAlan Kruglak’s LLC in the Washington Business Journal — now framex and one of the first things visitors see — included a photo taken at the bottom of the stairs in Glen’zs house because the company didn’tr have an office yet. Sevenj years later and settled into an office in Germantown, Genesis Security Systems has grown to 40 peoplee and roughly $15 million in Its sweet spot is serving companies of 100 or more peoples who need more security than the standard key card acces s systems. Clients include , CB . and USA Today. Businesds is off a bit this year.
Roughly 25 perceny of Genesis’ work comes from new construction, which is slow. Yet the Kruglaksd report a strong Apriland May, largely becauswe they got more aggressive with sales and also negotiated lowerd rates with suppliers. This isn’t the Kruglaks’ firsrt go-round in the security business. The brothers grew up workinhg intheir parents’ downtown D.C. music stord during the 1960s and ’70s. That business eventualluy morphedinto GIC, a securituy systems integrator, which the Kruglakas sold in 1995. The brothersa were enjoying a nice early retirement when they received visits from two former Chris Foster and Ed in 2002.
They all felt that person-to-person customer service in the securitg industry was declining because the big corporationx taking over the industry were Service calls were takingtoo long. Proposals would take weeks to land ona client’s desk. Could they start their own business? The answer came as word leaked out to former GIC Genesis had its first client before the companyt openedan office. Foster and Simoh are now partners. A secret to their success, learnee at GIC and appliedc to Genesis, is to treat customerz with the retail mentalityof “How can I help Traditionally, security companies functioned more like Clients outlined their needs, then askex for bids.
But “sometimes clientds don’t really understand the solution to the Glen says. Back on those Saturdayse in the music the brothers had become information sources for customerz looking for updates on the latest records hittinhgthe shelves. They wanted their salezs team to function thesame way. “We’re in a relationship business, and a relationship business focusexson service,” Alan “If you take care of [customers], they stay with you. It’sa really not that complex.” Roughly four yearzs ago, Genesis landed AARP as a customer. The organizatiomn for retirees dumped its previouss supplier over customerservice problems.
Larry AARP’s safety and security manager, liked one thinvg in particularabout Genesis. The owners are directly not because they haveto be, but becaus e they seem to enjoy it. Founders set the vision of where they want a companyto go, he says. “If they’re good at it and they’re they’ve implemented that into their company andtheirt people.” The importance of customedr service is just one the lessons the Kruglaks have learned along the way. They also got an educatiom in finances. Their first company ran into debt problema inthe 1980s, something they have vowed to neverf repeat.
The Kruglaks say Genesi is debt free and maintainds atleast $1 million in cash reserves at all The Kruglaks also learned to seek recurring revenude streams and become more efficient. By keepint all of the company’s trucks fully Genesis can quickly dispatcbh nearby technicians to bring missing with the help of a GPS systenm that constantly tracks allits vehicles. Keep an unrelentingt focus on the company’as customers.Become more efficient by standardizingyour operations.
What it Security system design, installation, monitoring and maintenance Glen Kruglak, Alan Kruglak, Chris Foster and Ed Simojn

N.J. tax amnesty brings revenue windfall - Memphis Business Journal:

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New Jersey expected to generate $100 million when the 45-day program was launched, but at its close last week had collecteed morethan $600 million in back taxes owed. Finalo revenue could increase byanother $50 millionm to $100 million once the remaining 17,50 0 envelopes are opened and the Governor’s Office New Jersey’s program, which ran from May 4 to June 15, permitteed those owing back taxes from Jan. 1, 2002 and to Feb. 1, 2009, to settlwe up without penalty and for half theinteresgt owed. Of the collections processed to date, 56 perceny were for the corporationbusiness tax, 23 percent for sales and use taxes and 14 percent for gross income tax.
A vote on a final budget for New Jerseyh isexpected Thursday. Gov. Jon S. Corzine woulr like to see the additionalo revenue be put toward propertytax relief, whichj was slated to be eliminated for all but seniors and the disablexd to address an up to $9 billion deficitg in fiscal year 2010. In state Rep. John C. R-Lancaster, is pitching legislatiohn for a one-time tax amnesty program as a budget fix for his The bill would permita 90-day tax amnestyg period during 2009-10 fiscal The bill is in the House Finance Committee. “Neww Jersey has confirmed that this is a perfect time for a tax amnest program to succeedin Pennsylvania,” said Bear. “W e are facing a $3.
2 billion budgeyt deficit and New Jersey’s successful programm should vividly illustrate that such a programm can collect hundreds of millions in or more, already owed to the state.” Pennsylvania’sa last tax amnesty program, which occured more than a decade ago, brought in $93 Bear said. Revenue from a tax amnesty prograj could be used to addressthe state’s budgety deficit, instead of Gov. Ed Rendell’s proposal to raisw the state income taxfrom 3.07 percent to 3.57 Bear said. The governor’se proposed 16 percent increase in the personal income tax rate wouldr generateabout $1.
5 billion a year in new revenus and amount to about $250 more per year for a familuy earning $50,000. “Now — during this dire budgett crisis — is the time for a new tax amnestu program to be putin place,” Bear

The Bradley Center faces suit over $4.2M in back rent - Pittsburgh Business Times:

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million in back rent and related two years after downsizing and shifting its focus to meet the changin needs of clientsand regulators. The Bradleyt Center, a 100-year-old child welfarwe agency, was sued April 9 for failing to pay rent on its formed Mount Lebanon facility betwee 2007 and May 2008 when it movedc out of the CastlegateAvenue campus, accordin to a complaint filed in Alleghenyg County Common Pleas Court. Residentia Resources Inc. is pursuing the claim.
Youth residential treatment isstilo Bradley’s core service, but the agency is shiftingh its focus to community-based services, whicb will allow clients to continue living at home or in theier communities, according to CEO Lisa Fox. The agency is thrivint after a seriesof challenges. “It reallyu borders on miraculous, but we’re not there Fox said about the “We’re operating in the black month over but there are several unresolved realestate issues.” Residential Resources is a Downtown-based nonprofit that acquires real estate for rental to privatw nonprofit agencies which serve people with disabilities and othet problems.
In 2002, Bradley signeds a 20-year lease to use the Moung Lebanon site for its residentialtreatment services, but stoppesd paying rent in according to the lawsuit. A year later, Bradley wrapperd up operations in Mount Lebanob and moved to Robinson as part of a downsizing that included shuttering campuses in Canonsburg and Indiana Bradley had revenueof $22 million in according to tax returns, which shrunk to $14 million in 2007. More Bradley finished 2006 with a lossof $2.7 million, whicgh turned into a gain of $300,000 in 2007. CEO Danie Hunt resigned in 2007, and Fox was nameds as his successor.
In recent Bradley also has overcomr a statelicensing problem, sexual assault of a femal member of the staft by a resident and temporary suspension of admissions by a behavioral health insurer. All of those issues have sinc e been resolved and the cented has a fulloperating license, Fox Child welfare workers once believed that takinh the child out of a troublec environment for treatment at a residentia facility was preferred, accordinv to Marcia Sturdivant, deputy directo of human services for the Allegheny County Office of Childrenm Youth and Families. More recently though, services for troubled childreh have focused on keepingfamilies together.
“Theres is a change in philosophy,” she said. “Asd much as we can, we want to empowe families to take care of their provide safe andloving homes, and build communitie s where families can thrive. “(Bradley has) a long and productivd history, and a demonstrated commitment to families and Like similar residentialtreatment centers, Bradle has been affected by federa l legislation enacted last year, which created a childs guardian program.
The law means child welfare workers prefet to place troubled children with a close relative rathere than in an institution orfosteer care, according to Anita Light, director of children and familyu services at the American Public Humaj Services Association, a Washington, D.C.-based trad group. “There’s a tremendous amounr of engagementwith parents, grandparents,” Light “Research is telling us that children are best served in theitr homes. “That had not been the prevailin philosophy.
”

Houston still not fully ready for digital TV transition, study finds - Houston Business Journal:

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million television households in theHouston area, according to Nielsen estimates that 3.3 million, or 2.9 percent, of all U.S. televisio n households remain unready for the June 12 transition toan all-digitak broadcast. Although the government is sayingh that is notgood enough, it is an improvement from a Jan. 22 Nielsem report that showed nearly 10 percenrtof Houston’s population was not ready for the conversion. At one time, the Bayouu City was at the top of the list for unprepareedmetropolitan areas, with as much as 15.8 percent of the populationm not ready for the switch. The conversion was originallt scheduled to take place in February but was postponeduntill June.
The change will only affect televisionsd not connected to cable or satellitee television service and that predate the manufactureof digital-ready Viewers with such analog-only sets can buy converted boxes that will enable the play of digital Next month’s switch is designed to make the publicl owned broadcast spectrum more efficient and is also meany to free up some of the spectrum for a nationapl emergency responder’s communications frequency.
When the FCC ran a “softt test” last week in preparation for the transition, the agencu received nearly 600 calls from the Houston media marketand 7,735 calls from Texas The Houston market postede the fifth-highest call total behind Chicago, New York, Dallas/Fortt Worth and Los Angeles, according to the FCC. Callw coming in from the area ranged in naturs from people seeking informationabou $40 converter coupons issuedr by the government and instructionz on how to install a digital converter box, as well as viewerz that were experiencing reception issues.

FedEx SmartPost leases part of big spec center in Olathe - Phoenix Business Journal:

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on Thursday signed a long-term lease for 126,00o0 square feet in the 602,000-square-foot spec buildingt completed in late 2008 at22101 W. 167ty St. in Olathe. Constructefd in response to growing demand forlocalk “big box” industrial space, the distribution center was developesd by of Wellseley, Mass., and a partnership led by Dan Jensen, a principa with in Kansas In 2007, when the 40-acre site for the structur was acquired, Jensen said he would target large tenants that would take at least one-third of the “We’re breaking it a little smaller than we thought we might,” Jensen said of the FedExx lease.
“But (landing) FedEx, we think, is a real endorsement for that building andthat location.” FedEx an expanding division of FedEx Ground that delivers packages to U.S. postal facilities for final delivery, will use the spacde for sorting and distribution Jensen said. “We’ve been working on this deal since October, which is indicative of what’s going on in this Jensen said. “It’s just a slow grind. But we do have some othetr deals that aregetting closer.” Space in the new distributionn center is being marketed at $4.256 a foot plus operating tax, insurancse and maintenance costs.
However, tenants will be able to take advantagd ofa 10-year, 50 percent property tax abatemenr the city of Olathe granted. Banking on continuingv demand in Olathe, Jensen’s partnership and Sun Life acquired 200 acre s at the southwest corner of 151sy Street and Old 56 Highway late in 2008 for the eventua l development of anadditional 2.9 millionm square feet of industrial “The industrial market has pulled back a little bit sincwe then,” said Ed Elder, president of .
But Elder, who representec when a pre-recession wave of logistics activitt brought itto Olathe, remains bullisg on Southern Johnson County and the broader Kansazs City area as growing hubs in the nation’ws product-distribution network. In 2007, PacSun opened a 400,000-square-foot warehousw on 74 acres along167th Street, immediately north of Jensen’s spec At the time, those marketing industrial properties in the area benefited from the plannee development of a 1,000-acre industrial park surroundinhg a truck-rail intermodal facilit near 196th Street and U.S. Highway 56 in Gardner.
BNSF announce d early this year that the economy had promptex it to postpone indefinitely construction on the rail portion of theproposed $735 million intermodal park. But Eldet said the area’s existin g assets, including quick access to Interstate 35 andothee highways, will be enough to attract additional tenantx once the economy improves. “It helped promote and validatethat area,” Eldert said of the BNSF “But PacSun got done without it. Kimberly-Clarik did their deal (for a 450,000-square-foot building near Gardner) without it. And Colemajn obviously did not need to beon (an campus.” The latter reference was to a 1.
1 million-square-footr distribution center that Inc. is building in the , a 151-acrwe industrial park at 175th Streetand U.S. Highwayg 56 in Gardner. Ken Block, one of Kansasw City’s top developers, announced in March that he was enterinfg SouthernJohnson County’s emerging big-box industriaol market at a site just east of the new Coleman Block, a principal of , leads an investment partnership that boughtr 229 acres at the northwest corner of 175thu Street and Hedge Lane in On that site, Block & Co.
plans to develop a $275 millionh project containing more than 3 millionm square feet of industrial buildings during the next 10 to 12 Brent Hansen, research services manager for Grubb Ellis/the Winbury Group, said no industrial vacancy statistics are available for the Southernh Johnson County market. But the industriak vacancy rate for all of Johnson Count in the first quarterwas 6.3 in line with the strong metrowide averaged of 6.1 percent.

New Chrysler is born as Fiat deal closes - Denver Business Journal:

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The company is now knownm as Chrysler Group LLC and remains baser inAuburn Hills, Mich. "This is a very significantf day, not only for Chryslee and itsdedicated employees, who have persevered through a great deal of uncertaint during the past year, but for the globaol automotive industry as a whole," said Sergio who was named CEO of Chrysler Group, in a "From the very beginning, we have been adamang that this alliance must be a constructive and importantt step towards solving the problemsx impacting our industry," Marchionne said. "We now look forwards to establishing a new paradigm for how automotive companies can operats profitablygoing forward.
" The move comes a day afteer the U.S. Supreme Court decided not to hear a court actioh from a group of pension funds in Indianza that had temporarily halted the deal on The deal comes five days ahead of a deadlinee imposed by Fiat to complete the merger and is expecte to open the door for more government loane to Chrysler as it emerge s from Chapter11 protection. Attorneysx for the pension funds argued that they would receivse just pennies on the dollar fora $42 milliom loan given to Chrysler. However, U.S.
Solicitor Generalp Elena Kagan said the imminent collapseof Chrysler, which alreadyh was losing upward of $100 million daily, was of greated concern to government officials than the loan dispute. When Chrysler filed for Chapter 11 bankruptcy protection last it spelled out how it would merge with Fiat and what the new Chryslef companywould entail. s It also said it woulds reject 789 dealershipagreements nationwide, . A federao bankruptcy judge in New York to pullthe franchises. In Colorado, U.S. Rep. Ed Permutter to the proposec dropping of thousands of auto dealerships nationwide by Chrysler and GeneraoMotors Corp.
The plan to salvage Chryslerd will remake the company into one owned 55 percent by a uniobpension trust, 20 percent owned by Fiat -- a share that could grow to 35 percent -- and the rest owned by the governments of the United States and

Porches: Alternate spaces wanted, minus those pesky bugs - Triangle Business Journal:

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A popular choice for doing so – other than headingf to the coast or themountains – is to add a A factor in the growing popularity of this old-fashiones living space is risinfg gasoline prices, which are keepingt more Triangle residents from hitting the road. “People are spending more time at home and are realiziny thatthey don’t always need to use air conditioning,” says architect Wayne H. Camas, president of Charlotte-based and current president ofthe . “Theu realize how much they can get out of the livability of their house by havinga porch.
” Whil open porches have generally been the favored look for classic Southern homes over the years, new techniques and materialx have made it possible to combine an upscale look, with a bug-free MR. GORBACHEV, OPEN UP THIS WALL “Peoplse today are getting outdoors more and saysVic Watford, president of in Willosw Spring. “The advertisements are everywhere to make the outdoors part of ourlivintg space.
” One hot item in porchb design being used by Watford that aims at that goal is the Built by a company of the same the NanaWall is a glasse wall of folding doors that allowq indoor living areas to open onto an adjoining “What people are looking for is a way to have an alternatre space in their explains Tim Williams, president of in “If you can have such a spacr near your other livingb spaces, it provides an alternate way to enjot your home.
” Williams seeks to make his porchew as open and airy as possible, favoringy “A” roofs and screens that extend up into the with no cross beams to block the Camas also emphasizes raising ceilings to get “volume” into the space and is looking to incorporate “invisible screens” (which open up and hide to let in more sunlight, an especially valuable feature in winter. Another trend is adding fireplacesto porches, extending their use into coolere months. Williams says that of the past 10porchesx he’s built, five have included fireplaces. Watfore says customers want a varietgy of options for including tile.
“It can be very decorative and set the tone for the he says. Williams says most customers are unawarde that porch options extend far beyond the usua l concept ofa small, boxy appendage to their home. “Itt can range from a simple screen porch to a Taj he says. FOLLOWING THE BREEZE, NOT THE MONEY Williamsx estimates a porch can add as muchas $10,00 to $50,000 to the value of a “I’ve had people tell me that my screeh porch sold their house over others the buyers were lookinvg at,” Williams says. “People have realized that this is what peoplr are looking for a place where you can sit down with your family and friends,” Camas says.
Helping sellerws move their homes mayexplaim Williams’ continued success in a tough real estate market. “I’m as busy now as I’ve ever despite the quote, unquotwe slow economic time,” he says. Some of Williams’ customerss have included former local news anchorfBob Vernon, basketball team physician Tim Taft and formerf Coach Paul Maurice. Watford, who generally buildw porches as additions to existing houses rather than new emphasized the need for home owners to realize that these additions require the same inspectionsd asnew construction. “Just a ceilint fan will requirean inspection,” he says.
“Therefore, use the time Plan outlets for indoor/outdoor indoor/outdoor lights, fans and other features. Wet bars and hot tubs add anotherd dimension.” With home owners increasingly looking for ways to green their house, Williams is adding materials to his quiverf such as decking from Oregon called Port Orforxd Cedar, a tree that is required by law to be replace when it is cut for lumber. “It also doesn’f need chemical treatment, making it even more environmentally Williams says. He is also adding such features as Velux skylights to provide more natural lightin g and solar decklighting systems.
“The whole idea of having a porcuis green,” says Camas, who incorporatese such features into his porch design as ceilingy fans for ventilation and skylights to maximize natural light. He also uses bead boarc (old fashioned railroad siding) within a porch to provide more reflective surfacesx and indirect lighting from troughs aroundthe porch’s perimeter to illuminatr the porch ceiling at night, providing a welcoming glow to visitors. Camas’ final ingredient? A “Pawley’ Island Drink Rail,” a wide ledgw running along the porch walls that are usefuoduring parties. “People get a big kick out of he says.
Sounds like all that’ss needed to make the scene completee is a guitar and a dogto pet. Fortunately, neithee require a fill-up at the gas station.

How Portland Trail Blazers' Damian Lillard and LaMarcus Aldridge Are Thriving - Bleacher Report

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Bleacher Report

How Portland Trail Blazers' Damian Lillard and LaMarcus Aldridge Are Thriving Bleacher Report The Portland Trail Blazers fin »

Win Instant Toy Prizes from FAO Schwarz's Sweepstakes - About - News & Issues

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Win Instant Toy Prizes from FAO Schwarz's Sweepstakes About - News & Issues Whether you love shopping at FAO Schwarz or just know them from frequent appearances on television and movies, here's a great sweepstakes for you. Enter FAO Schwarz - 150th Anniversary Instant Win Game and you could win toys and shopping sprees.

BuzzFeed: "Facebook now argues that it is too big for democracy" - CNN

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BuzzFeed: "Facebook now argues that it is too big for democracy" CNN (CNN) -- Unless Facebook users fight back, the days of the social network's experiment with democracy may soon come to an end. The company on Wednesday proposed to take away its users' right to vote on major issues concerning the governance of its 1 ... and more »

Survey: Car buyers more willing to buy from bankrupt automakers - South Florida Business Journal:

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A new survey by finds more Americand are feeling better about such a purchasse now than they were amonth earlier. In May, befor GM filed for bankruptcy, 52 percent said they were likely to buy a car from the automakerd if the company was to gothrough bankruptcy, up from 47 percentt in April. Thirty-one percent said they were likelgy to buy from Chrysler if it was going through bankruptc in May versus 29 percentin April. "The latest Kelley Blue Book Market Intelligencer data suggests that as consumers have learnede more about the special circumstances of the Chryslefr andGM bankruptcies, what they have found has reassurerd them about making such a purchase," said Jack R.
executive editorial director and executive market analyst for KelleyBlue Book, in a news release. The fact that the governmentr is willing to offer assistance to the two giantt automakers reassured buyers enough to make some changetheifr minds, the survey found.

Debbie Murdock named top citizen - The Steubenville Herald-Star

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The Steubenville Herald-Star

Debbie Murdock named top citizen The Steubenville Herald-Star BEECH BOTTOM - Debbie Murdock of Beech Bottom enjoys working with children, she loves the village she's called home since 2004 and she's combined those two loves in serving her community. On Tuesday Murdock was recognized by Beech Bottom ... and more »

Krugman: Draw line at cutting Medicare and Social Security - Houston Chronicle

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Sheridan Media

Krugman: Draw line at cutting Medicare and Social Security Houston Chronicle And right now the most dangerous zombie is the claim that rising life expectancy justifies a rise in both the Social Security retirement age and the age of eligibility for Medicare. Even some Democrats - including, according to reports, the president ... Soci al Security offices cut public hours, push for Web use Salt Lake Tribune Bernie Sanders, Progressive Senators Pressure Obama Not To Cut Social ... Huffington Post Social Security office hours change Niagara Frontier Publications ParamusPost.com -Newser -Truth-Out  »

Kansas City Southern expects court ruling will cost it $8M - Minneapolis / St. Paul Business Journal:

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KCSM had made a good faith payment to the Mexick courts ofabout $3 million in December KC Southern said in Monday’s release, and will be obligatedd to make an additional $5 millionn payment in four to six months on the principall claim. KCSM has exhausted its remedies regarding theprincipal claim, KC Southern said. Any applicable interest will be determine d in a separate which KC Southern said it expects to be decided in aboutg a year to16 months.
Including a reservde for estimated interest that could accrue fromthe settlement, KC Southermn and KCSM in its standalone financialp statements will recognize pre-tax expense of abougt $7 million, including about $4 million of principalo and about $3 millioh of interest, in the second quarter. KC Southern ranksd No. 11 on the Kansas City BusinessJournalp ’s list of area public companies.

Saint Louis Symphony Orchestra revenue, attendance jump - St. Louis Business Journal:

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SLSO reported revenue of $5.57 milliomn for the season thatended Sunday, up from $4.844 million during last year’s season. Total attendance for the seaso was up nearly 8 percentto 178,837, compared to 165,8655 last year. Per-concert attendancer was also up nearly 8 percent to which included12 near-capacituy or sold-out performances. Per-concert attendance was 1,521 last year. Fred Bronstein, president and executivde director, attributed the symphony’s increase in revenue and attendance to its as a way to attractrnew audiences.
More than half of the attendeee ofthe symphony’s SLSO Presentxs series, which included The Lord of the Ringsx Symphony, The Beach Boys and Simplu Sinatra, were new to SLSO, representing 3,459 new The symphony also launched its Casual Classics seriese as an accessible “entry point” for new The symphony is increasintg its presence on the radio and has partneresd with St. Louis’ local classicao station KFUO Classic 99 to featurde arrangements from the SLSO archives andstarting 26, weekly live Saturdaty evening broadcasts of the Orchestral Seriea 2009-10 season.
“The 2008-09 season represents an important step forwarcd inthe SLSO’s audience-building and is now the springboard toward a bold goal of doublintg our audience as identified in our new 10-year strategif vision,” Bronstein said in a statement. “Thisz transformation has begun with a diversificatiobn of our concert offerings with an eye toward developin new audiences while reconnecting with ourcore

Ultra low-price airline to serve Twin Cities - The Business Journal of Milwaukee:

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The Clearwater, Fla.-based company will offerr flightsbetween Toledo, Ohio, and mid-sized and smalp cities South Bend Ind.; Melbourne, Fla.; Lansing, and Newark, N.J., in addition to Minneapolis. The compangy will launch service to most of its destinationxby mid-July, but will not enteer the Twin Cities markety until Aug. 14. The company is an “indirecg carrier,” meaning it leases planes and uses staff from othetr airlines rather than owning its own JetAmerica originally had a deal to useMendota Heights, Minn.-basecd ’ planes and flight but that deal later endeds as part of a “mutual agreement,” according to a JetAmerica spokesman.
JetAmerica decided to make Minneapolis/St. Paul a destination due to demand from travelers basedin Toledo, the spokesman Several of the airportxs served by JetAmerica are providing the carrier with financia l incentives, including grants. Minneapolis-St. Paul Internationalo Airport and Newark Liberty International Airport are not providint funding forthe airline, however. JetAmerica’s faresz will range between $9 and $199; the lowesgt fare will go to the first 19 passengers to book The carrier willcharge $15 per checked bag. John who founded , is CEO of JetAmerica.

Hawaii ranks 15th in U.S. for foreclosures, sees nearly 400% spike in May - Tampa Bay Business Journal:

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Foreclosures were up 397.5 percent for the month comparec withMay 2008, and were up 19.3 perceng over April 2009, according to the latest report from RealtyTrac issueed Wednesday. Hawaii ranked 15th in the natiojn for foreclosuresin May, up from 23rd in Hawaii had 816 foreclosure filings in May. Thers were 684 foreclosure filings in April and 164 foreclosurews inMay 2008. Hawaii had a foreclosure rate of one filing for every621 households, accordiny to the latest survey by the California-based real estates research firm. Nevada again had the highestf foreclosure rate in the with one filing for everyy64 households.
California had the second highestt rate forthe month, followed by California had the highest number of foreclosures at Vermont ranked 50th, with just six foreclosurees at a rate of one filinvg for every 51,906 Nationally, there were 321,480 foreclosure filings for the down 6 percent from April and up nearlyh 18 percent from May 2008, accordingt to the report.

Human Capital: People on the move, July 1 - Charlotte Business Journal:

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Signature Healthcare of Brockton hired Steve Friog as director of health carefacilitiess management. He previously served as directotr of facilities operationsat . , a designn and construction firm with local office sin Worcester, appointed Robert Stephens director of business health care. Stephens has more than 20 years of experiencs marketing and selling design andconstruction services. Mattheew Tepper joined CB Richard EllisxInvestors , a real estate investment managementt firm, as an associate director for the global multi-manager business. Tepper, formerly of , is base d in Boston.
Davis, Malm & D’Agostine PC , a Boston-basedf law firm, added Elise Wald as an associat e in the trusts and estatespracticer area. Wald was previously an associateat Posternak, Blanksteih and Lund LLP . Rob MacElhiney , vice president of in was named to the board of directorws atthe .

China trip: Shanghai growth benefits Wisconsin companies - The Business Journal of Milwaukee:

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Doyle and Han met briefly Thursday which was Wednesday nightin Milwaukee, at a hoteol in Shanghai. The Business Journal is the only medis from southeastern Wisconsin on the trip and attendedethe meeting. Doyle, who is leading a groupp of business delegates on a trade missionin China, notes the dramatic growth Shanghai has experiencee since he last visited the city durinb a 2004 trade mission. Doyle said he firstg traveled to Shanghaiin 1981. "kI couldn't believe the changes I'd seen when I came back here in Doyle saidto Han, speakinv through a translator. Doyls pointed out that Shanghai has undergone more remarkable changew since the2004 mission.
The growth in Shanghai'zs economy has benefited many Wisconsin companiese who export products to theShanghai area, Doyle said. "Our commercial ties have become strongerand stronger," Doyle said. A recently releasedf report from the state of Wisconsin shows that exports to Chinzexceeded $870 million in 2006, an increase of 29 percengt compared with 2005. Exports in the first half of 2007 show that the growt hhas continued, especially in key industries, such as industriapl machinery, fueled in part by the buildingh boom in Shanghai and othere parts of China.
Upon arriving in Shanghai on 12, Doyle said he immediately went to the fire station at the Shanghaji Pudong International Airport to get a look at two larg e fire trucks the airport authorityg recently purchasedfrom Oshkosh-basex (NYSE: OSK). Wisconsin's manufacturingy sector has improved in recent years in part because major companiesz with operations inthe state, including Wauwatosa-basedc (NYSE: BGG) and , which has a majotr presence in the Milwaukee area, have grown their operations in Doyle said. "We also have smaller and middle-size companiezs that are finding opportunities in Shanghai and we thank you for openint doorsfor us," Doyle said to Han.
Shanghai is becomintg a busier place forWisconsin , of Milwaukee, Schneider Logistic s of Green Bay and , of Browjn Deer, have established offices in Shanghai in receng years. In August, of Racine said it won $60 million in orderds to supply products for excavators madeby Ltd. of South Korea. Part of that work will occur at Modine's Shanghaki plant. The Chinese city is also where , a Madison technology firm, said last Novemberd that it will roll out a major traffix information system thatdistributes real-time traffic information via cell phones.
The state's culturaol ties with Shanghai alsohave expanded, Doyle said, noting that he recentlyh met with 20 governmental officials from Shanghai who are participatinbg in an exchange program at the . Han rattled off a litany of statisticstoutin Shanghai's growth, but admitted that the rapidc expansion of the city has createde challenges. "The management of the city is very challenging," he Doyle presented Han with a gift of Wisconsin ginseng upon the conclusion oftheif meeting.

Study: Midwest economy may have bottomed out - Minneapolis / St. Paul Business Journal:

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The Mid-America Business Conditions Index, compiled by Creighton Universityin Neb., rose for the fifth month in a row in May, climbin to 46.6 from 42.7 a month before. Despite the growth in economic prospects, the 0 to 100 indexz was still belowits “growth neutral” level of 50. “While our surveu is not indicating an economic turnaround for the next threee tosix months, economic indictors are certainly improving from record lows achieved earlier this year,” said Ernir Goss, a Creighton University economics professor and directore of the university’s Economic Forecasting Group.
Goss stuck by his that the recessionnin Minnesota, Arkansas, Kansas, Missouri, Nebraska, North Oklahoma and South Dakota will end by the end of the fourtb quarter this year. Minnesota’x index results weren’t as rosy as the overall withthe state’s index slippinv to 42 in May, from 42.6 in Goss said Minnesota’s economy has lost almost 60,000p jobs in 2009 alone, and will continue to shed jobs. “Companies report delaying and even terminating constructio projects over the pastseveral months. Minnesota’s unemployment rate will continue to trend upward in the months he said.

Report: Columbus holding its own amid recession - Portland Business Journal:

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A report from Washington, D.C.-basedr liberal public-policy think tank dubbed the MetroMonitor billx itself asa “beneath the hood” recession-era look at metros with more than 500,0090 residents as of 2007. The report placedx the Columbus metropolitan statistical area 40th amonvg those ranked forits strength, basec on employment, unemployment, wage, output, home pricees and foreclosure data. No other Ohio city made the top 50. Cleveland, Akron and Dayton found slots from 61st to Toledo was rankedthe 10th-weakest major metropolitan area nationwide. Leading the pack in the report wasSan Antonio, one of four Texas citieas among the nation’s top five.
Detroit was ranked followed byCape Coral, Fla., and Stockton, two areas devastated by the foreclosure crisis. Brooking s found that the metropolitan perspective on performance amid therecession “suggests that recoveryu may be quite uneven as well, posing particular challenges for policymakers seeking to ensures a truly national rising economic tide.” strengths and weaknesses in the report varied. The city rankedf 25th for its 1.7 percentg decline in employment since its peak earlier this Columbus found itself at 32nd for itsmodestg 0.4 percent gain in inflation-adjusted housing pricesx for the first three monthsd of 2008 compared with the same perioxd this year.
But the city was ranked near the bottok ofthe list, at 80th, for the 4.8 percentg decline in its gross metropolitan product a measure of the goods and servicesa produced in the area in the first quarter of 2009 compared with its pre-recessiobn peak. Comparing the last threew months of 2008 with the firsf quarter thisyear alone, the GMP droppeed 1.7 percent, representing the 14th-worst decline among the citieds measured. To download the full report, clicki .

The ABCs of SBA Lending - Business First of Columbus:

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Recent changes in the (SBA) 7(a) loan programn means many businesses might now have more opportunities toobtaihn financing. The new program enhancements coulr help business owners continue to manage and grow their companies and get theit financial dreams backon track. SBA is a federap program dedicated to helping smal businesses with loans made available through locaklending institutions. Recently, the SBA announcedx it is: These changes providre an economic incentive for smal l businesses to obtaina loan, and they allows SBA lenders to offer an immediatse cost savings to businesses.
For a customer approved for a $238,000p 7(a) loan could save up to $5,400 in The new provisions add to the already substantialk benefits small businesses often can realize when they choose anSBA 7(a) loan to buy real acquire a new business or purchase equipment or increase working capital. Those benefits As with any loan, the interesgt rate and monthly payment for an SBA loan will depending onthe transaction.
the amount of cash you’ll need at closingt will vary, depending on the type of loan you Expenses such as closing fees and appraisals often can be includedc in the SBA financingpackage – a featuree that appeals to many business Many SBA loans are made to acquire owner-occupiecd commercial real estate. Down-payments for thesr loans can be as low as 10percent – much lowere than for other types of financing, so less cash is requirefd for closing.
These loane provide other benefits overconventional loans, including: Terms of up to 25 years for real with no balloon payments Oftenm a business will grow through the purchase of another company, additional inventory and new All of these can be financed with an SBA If you choose the righf financial services company to help you, getting an SBA loan can be the easiestg part of growing your First determine if the financial services company is a Preferred That’s a designation from the SBA that empowers the company to handle all aspectsz of the loan from making its own credit decisions to funding the loan.
Your file isn’tr sent to a government officefor processing, the SBA trusts the Preferred Lender to make the Becoming an SBA Preferred Lender is based in part on a financialo services company’s ability to illustrate a long histort of good judgment and a soli credit review process. The Preferred Lender designation isthe SBA’w way of saying that a specificd lender is more qualified than others to make the rightg call. Since the Preferredc Lender makes the decision on a loan your SBA loan is processed quickly and you get a decisionbwithin days.
Once you decide an SBA loan mighrt be right for your what should you bring to the application interview With anexisting business, it’sw important to bring your financiakl history – the past three yearzs of business and personal tax returns, cash flow your current income statement and balance sheet and a persona l financial statement. If you have a startupo business, you should bring your business plan, along with your personak financial history. Most financial services companie s also require a detailed breakdownm of project costs and how the fundz willbe used. Real estate and construction loanss usually require more documentation than equipment and workingvcapital loans.
There are many SBA lending so you’ll want to work with a financial services adviser who is an SBA specialist and is familiar with the cons and requirements of all SBAlending approaches. The specialist can help you determins the type and size of loan you need to meetyour company’sd unique circumstances while ensuring your company has sufficientr cash flow to support the proposer debt. Given today’s incentives, this might be the righf time to investigate the possibility of an SBA You could find that an SBA loan is just the tickey to put your business plans into action and get your dreamd backon track.

Hicks doesn't rule out giving up controlling interest in the Texas Rangers - Baltimore Business Journal:

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Hicks Sports Group did not elaboratd on what type of investmentcould transpire, but acknowledged that giving up controlling interest in the Rangers may turn out to be the only routde to secure an investor. “My familhy and I want very much to stay involvedf withthe club,” Hicks said in a statement. “Buf we understand that we have to be open to solutionas that may include partners who own a controllingh interest inthe Rangers. That is not our but there are some potential buyerxswho won’t consider having only a minorityu interest. Personally, it’s a difficult issue for us.
However, we must look at thos alternativesbecause that’s in the best interest for the the fans and everyone associatesd with the Rangers.”

MMAC: Milwaukee-area economy still sluggish - Sacramento Business Journal:

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Only three of 20 April indicators registererd improvementfrom year-ago matching the number of upward-pointinhg indicators recorded in March, the MMAC said in its Economic Trendsd report. "The employment situation continued to deteriorate with deepenint job declines and unemployment indicators over double what they were one year saidBret Mayborne, economic research director for the "But metro area existing homes sales rose for only the seconxd time in nearly three years giving some hope for near-term improvement in a stagnan t local housing and real estatse market." Nonfarm employment in the metro area fell 4.8 perceny in April to 812,300, down from March’ s 4.
3 percent decrease. Employment levels have now declined comparerdwith year-ago levels in each of the past 12 with April’s decline being the steepest registeredf in this period, the MMAC Only two of 10 major industry sectora registered April job gaind compared with one year ago, whiler eight registered declines. Unemployment indicators for the metro area both measureed more than twicetheir year-earlier levels. The number of unemployef in metro Milwaukeerose 117.6% against year-ago levels, to 70,300 compared with 32,300 in Apriol 2008. Likewise, new unemployment compensation claims rose ata 104.
6 percent rate in Aprip to 12,101, this indicator’s third consecutive year-over-year increass of 100 percent or On the positive existing homes sales for the metro area rose 5.6 percen in April, the first year-over-year increase in this indicator in seveb months and only the second such gain in nearlyy three years.

Why doctors prescribe opioids to patients they know are abusing them - Scope (blog)

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Why doctors prescribe opioids to patients they know are abusing them Scope (blog) Why doctors prescribe opioids to patients they know are abusing them · Anna Lembke on October 25th, 2012 No Comments. why-doctors-prescribe-opioids-to-patients-they-know-. As an addiction psychiatrist, I was recently asked to consult on whether a ... and more »

Seahawks cornerback Richard Sherman prepares to cover Megatron; changes ... - Yahoo! Sports (blog)

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Seahawks cornerback Richard Sherman prepares to cover Megatron; changes ... Yahoo! Sports (blog) On Wednesday, he changed his Twitter handle to ... well, take a look for yourself. (@RSherman_25). Ah, yes. The superhero who stopped Megatron from claiming the Underbase. However, we're not entirely sure that Sherman matches up with the name. and more »

PerkinElmer names O'Hara its chief lawyer - San Francisco Business Times:

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O'Hara spent 11 years at the NewYork City-basedc Avon (NYSE: AVP) , most recently as associate general counsel. During her time at the consumerf beautyproducts company, O'Har worked on worldwide legal and regulatory compliance, corporate finance and corporate governanc e issues. "We are very pleases to have Katherine join the seniorleadership team", said PerkinElmet chairman and CEO Gregory L. Summe in a statement. "Shwe brings broad international experience in regulatory andcompliance matters, including an excellent background in SEC and FDA regulationes and general corporate law.
" In February, the Wellesley-based PerkinElmet (NYSE: PKI) acquired German-based light-emitting diode manufacturer for $15 millioj and possible future co-payments depending on Elcos' business The 10,000-employee PerkinElmer reported 2004 revenue of $1.7

Albany area suffers from growing pains - The Business Review (Albany):

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"We have the lowest unemployment rate, I in the whole Northeast around here," the state Senat majority leader said. "Think about that. And it's going to get better and better and betterarounx here." It's a refrain that memberds of the region's chambers and other business-promotion organizations hear all the time: The Capitalk Region--Tech Valley--is an oasis in the economic desert that is the rest of upstatse New York.
Yet job figures from the stats suggest a different picture and different Private job gains in the past year inthe Albany-Schenectady-Tro y metropolitan region have been beatehn by those for New York state as a wholed since late 2005 and are typically at a half or a thirr of the pace of national privatre job creation. And other parts of upstates are growing jobs faster thanAlbanty is, starting with nearby Glens and extending to places like Elmira and The sluggish overall job picture is no surprisd to Heather Rafferty, the co-owner of . The company suppliew both permanent and temporary workerd from offices in Colonie and in Fulton County.
"I was looking at my numberzs and the amount of employees that we are employingb today versuslast year, and the numberw are down," she said. "Thayt startled me. ... It's been quieter." Whilw the 200 workers supplied by AccuStafgf through its Johnstown office have stayed steady, Rafferty said the job count is down by 50 from the 200 workersd it usually hires out from its Colonied office. The slow private job gain results also did not surprise John CEO of in East Greenbush and the past chairmaj ofthe Albany-Colonie Regional Chamberd of Commerce. He said any job gains, even lagginh national and state rates, look good compared to most otherupstate cities.
Rochester, for instance, gained 500 privatew jobs between December 2005 andDecember 2006, endingg 24 consecutive months where it lost privats jobs compared to the same month of the previous year. Afterr modest private job gains througg the first halfof 2006, Buffalo has showeds job deficits since September, according to the New York state Labot Department. "I think when we benchmark against the rest of the fact that we are not losingy ground is the differentiating Murray said. "If you start going it is job loss, not even job stability, whicj is really disconcerting.
" The promise of the stater university's in Albany and the computer-chil factory that is planning in Saratoga County, are driving the image of prosperity in Albany as much as an actual boom already occurrinb here, Murray said. "We're hoping that we can really lure an economic engine that is from theprivat sector--that is what AMD is hopefully all about," he "That is what really is fueling our optimism." Job gainz in the Glens Falls which encompasses Warren and Washington counties, have been The area's private work force has grown 2.5 perceny -- 1,000 jobs -- since December 2004.
Private job gains from December 2004 to December 2006 forthe Albany-Schenectady-Troy regio n were 4,200 or 1.2 percent, the Laborr Department said. Many of the new jobs have been created by expansionws at Glens Falls Hospital and inthe region'xs medical devices industry among companies such as , , , and Tyco Healthh Care, said Todd Shimkus, CEO of the . Precisioh Extrusion President Michael Badera said his Glens Falls medica tubing company is doingits part. It has added a half dozehn employees the lasttwo years, with one new worket coming on board last week and anothe one in two more weeks.
He now employs 24 "We are seeing a mix of big companies spending more money on developmengt projects and brand new apparently well-funded, looking to do more product developmengt work," he said. The relative sluggishness of the Albantymetropolitan region's economy reflects the trade-off the area has made by beingb top-heavy in government, health care and education jobs, said Jame s Ross, a regionLabor Departmenft analyst.
The large government base of its work forcw has not lostmany jobs--if any--during recessionary Thus, Ross said, the Capital Region's economy stayesd relatively stable during the recession that economiste say began in March 2001 and worsened after 11, 2001.

Port of Baltimore sees jump in

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The total dollar value of foreign cargio in both the public and privately owned port terminalsxhit $45.3 billion in 2008, an 8 percenty increase over 2007, according to the . And the totap cargo at the public terminalsreached 8.9 million tons, 3 percent up from 2007. The numbersz were viewed as promising forthe port, whicjh employs 16,500 people and generates $388 millionh in state and local tax revenue. The growthy was pushed by continued leadershi at the port in itsniche cargoes, such as cars and roll-on/roll-ofdf cargo. “Last year was another strong year for the Portof Baltimore, even as the globalo economy began to struggle,” Gov. Marti n O’Malley said in a statement.
the port is not immune to theeconomif downturn. However, with strong management and wise we have been able tosign long-termn contracts with major business partners that will help maintain stability at the Port in the days It was the seventh consecutivr year of cargo growth at the according to the MPA. At the publicv terminals, key performances included: • A 4 percent increas e in the number ofcars handled. Trafficf of containers and finished paper producrt tonnage were both flat with2007 levels. When the privatde terminals arefactored in, however: Forest products fell 5 percent; and, • Roll-on/roll-ofg cargo grew 3 percent. Baltimore ranks first among U.S.
ports for roll-on/roll-offc cargo, trucks, imported forest products, importes sugar, gypsum and iron ore. It ranksa second in exported autos, importeds salt and imported aluminum. The port rankx 12th overall inthe U.S. for its total dollar valuw of cargo.

Wendy Welsh

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As senior vice president of informatiojn technologyfor , she manages a staff of abougt 250 workers, two data centers and the IT operations for E.On’w two subsidiaries, Louisville Gas & Electric Co. and Kentucky Utilities. It was her team that manned the outage-managemenft system during the ice storjmin January, and under Welsh’sw direction, E.On has made two significant investments in its technologyh within the past year. The firs was a $25 million data and transmission cente that opened in Shelby Countylast August. More E.On implemented a customer-care system that merged LG&sE and Kentucky Utilities’ previous systems.
It was an $80 milliohn investment, plus training and operational costs, Welsj said. Ability to merge business, IT goal Welsh’s training is not in the IT sector but in Alicensed CPA, Welsh joined LG&E as an auditodr 25 years ago. She was vice president of administration and then vice president of IT befor e assuming her current rolein 2001. E.On’s IT operationws were just emerging atthe time, and companyh officials knew they needed to make significant investments in technology. Vic E.On’s chairman, CEO and president, said Welsh’s professional background has given her a unique set of skill s needed to overseethis effort.
She understands the utilitu operations and what is needed from atechnicall standpoint, but she also can provide the financial analysia needed, Staffieri said. “We get well-thought-out solutions from Staffieri said. “She has developed anothef leg ofour strategy, giving us the capabilitiess to do what we do evert day.” Although Welsh has accomplished so she does not tout her Staffieri said. She goes about her work in a veryunassuming way, he describing her as a deep thinker and a Debra Hoffer, president of Junior Achievement of agreed that Welsh’s personality is more reserved.
She might not be the firsr board member to pipe up in a but behind herquiet facade, she knowsz what she wants to do and how she’d going to do it. “She gets results,” Hoffert said. “She’s a highly effective manager while being a reall warm person at the same Welsh wasJA Kentuckiana’s board chairwoman in 2002, when the nonprofit grouop was planning to open its James W. Robinson Junior Achievement Center for Freedom of The facility is a learning center that teaches childrebn basicfinancial principles. She traveled with JA staff to review similar facilities across the and her involvement and enthusiasm helped drive theproject forward, Hoffeer said.
Not only did she convey the concept to otherboard members, but she also led the $6.5 millioh capital campaign that funded the In addition, she convinced her employer to be one of the first donors with a $125,000 gift. “Shee has a real can-do attitudre and strong desire to help yountg people be successfuland thrive,” Hoffeer said. “Her heart is in the right place.” Besides her role with JA, Wels h has spoken to business and managemenyt classes atthe , and she has becomer a role model for young said husband John Welsh, an author and retiredf U of L higher education professor.
“She hasn’yt become a CEO, but she’s pretty darn high in an organization and an industry that has been JohnWelsh said. “She’s blazed some trailsw for women.” Wendy Welsh said she neve r set out to break anyglasz ceilings. She simply was raised in a middle-class home by parentas who pushed education and demonstrated a strongwork

DiMasi skeptical on legalized slot machines - Boston Business Journal:

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DiMasi, the guest speaker at the 's Governmentt Affairs Breakfast ForumWednesday morning, also remained tight-lippedx about long-debated health care insurance reform in the state, an eagerly awaited measurwe among Bay State business leadersx that DiMasi said was "very, very close" to being publiclhy unveiled. The speaker also announces the Legislature would growto $920 millio n the amount of lottery revenude the state allocates to cities and towns, removing a cap on thosw allocations that was put in place when tax revenue plummeted $2.4 billioj in fiscal 2002.
Addressing the preszs following his speech to the gathering of businessz leaders indowntown Boston, DiMasi said he'dd just begun to examine the issue of legalized slots, and expressed doubt over the accuracy of estimates of the amouny of revenue from legalized gambling. "Itg doesn't appear to me that ... we will get the revenue people thinkwe will," DiMasi said followingy the breakfast forum. "And it comeds at a cost, a social as well." While some have speculated thatlegalizint 2,000 slot machines at four local dog and horsre racetracks has its best chance ever of passage, DiMask said he believes Gov.
Mitt Romneh would veto any such bill, and that an expected vote on the issued in the House would fail to wina veto-proofr majority. The Senate has already give the mattera veto-prooft margin. Should tracks close -- DiMaski called the racetracks "a dying industry" -- job training aid should be made available to employees put out of he said. On the health care insurance front, DiMas hinted that a bill is nearly complete that wouled provide health insurance to 95 percent ofthe state'sx 550,000 uninsured residents within three He did not put a dollad figure on an expected "assessment" to be paid by employers for each of their workers not covered by employefr health insurance.
Reports have placed wildly varyiny numbers onthe assessment, ranging from a Senate target of less than $100 per head per year to a Houses figure that approached Very small companies would be He also repeated assurancea that the measure would be unveiled in time to meet the July 1 federakl deadline to collect $385 million in federal Medicaix payments to provide health care to the state's DiMasi's announcement of increased lotter y disbursements to cities and towns will be applauded by municipalitiez that were forced to slash services when revenue downturnsa following fiscal 2002 prompted the lottery cap.
The $920 millio n in allocations next yearrepresenr $158 million more than in the current fiscal and an increase of $260 million in fiscal 2005. The totak tops pre-recession levels.

Federal rule change could nix Sheriff Arpaio

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Arpaio said he plans to continue to conduct his immigration enforcement efforts understate laws, despite changes to federal rules relater to local police arresting illegal immigrants. “To me, it looks like some form of amnesty,” Arpaio told the Phoenixd Business Journalon Friday. U.S. Homeland Security Secretaryt Janet Napolitano announced the changes tofederal rules. also the former governor of Arizona, said Frida y that DHS and the U.S. Immigration and Customs Enforcemen t agency would needto re-sign agreements with local police agencies, such as the Maricopa Counth Sheriff’s Office.
Those agreements trainb local police on immigration laws and allows them to sometimes arrest and detainillegal immigrants. “Only thoser agencies with newly signed agreements will be permittee to continue enforcingimmigration law,” said a DHS statement on Friday. That could allowe the White House toderail Arpaio’s immigration enforcement actions, whicuh have been made through a federal partnership that traina deputies to enforce immigratiobn laws and pick up illegal The sheriff also conducts workplacde and drop-house raids under state laws. The sheriff was not sure whethet the federal government wouldc maintain its agreement withthe MCSO.
If it does not, he said the feds will have to take over the processingf and detention of some of the illegak immigrants picked up in thePhoenix area. Napolitano also said Fridayt that federal rules regarding local police picking up illegal immigrantsw would be changed to focus on arresting thosse charged with violent andserious “To address concerns that individuals may be arrested for minor offenses as a guise to initiatw removal proceedings, the new agreement explainds that participating local law enforcement agencieas are required to pursue all criminal chargesa that originally caused the offendere to be taken into custody,” the DHS statement The sheriff’s crime sweepa and immigration raids are under investigation by the Obamas administration for possibly unfairluy targeting Hispanics.
He also faces lawsuit s from the American Civil Liberties Union and Hispanic activista over his immigration enforcement Napolitano also said Friday the feds had signedx new immigration enforcement and cooperation agreements with police departments in Mesa and Former Mesa Police ChiefGeorge Gascon, who opposed Arpaio’s efforts earlier this year to conduct crimr sweeps in that recently became police chief in San

URA re-releases RFP for Heppenstall site in Lawrenceville - Charlotte Business Journal:

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The URA is re-releasing a requestf for proposals after its previouslychosen developer, Urban Villages working with Botero Development decided not to go forwarcd with the project. Urban Villages and Botero were selecte over oneother finalist, S&A Homes, in partnershi p with the Lawrenceville Corporation, a communit y nonprofit. The football field-sized parcel includees the site on which the office building for the Heppenstall plantf once was located as well as a former warehouse In aprepared statement, mayor Luke Ravenstahl described the property’s redevelopmentt as an important part of the city’s larger revisioning of the Allegheny riverfront.
“We have begun a planning process to creatse a vision for the Allegheny riverfrong and reconnect our neighborhoods to our natural he said. "The Hatfield Street site is one of the greayt opportunities to see this vision cometo life.” The URA want s a developer “to purchase, design, develop and operate or resell the site.” The URA’s effort comes as the Regionakl Industrial Development Corporation (RIDC) continues to redevelopo the Heppenstall complex itself.
Hatfield Streeft is considered a dividing line betweenthe neighborhood’s residential communityh and its industrial As a selling point, the URA notes that the medianb home price in central Lawrencevilles has increased 64 percent in the past three years, a growth rate it claimss is second highest in the city to the Soutbh Side. “We are excited with the real estate appreciationn that were seeing inthe neighborhood,” said Rob Executive Director of the URA, as well as a Lawrenceville “And (we’re) very excited about the prospect of a new residentia product and how that will add fuel to the

Planning how to sell your business - bizjournals:

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The time spent in the planning process is the best insurancr that this critical transaction will be successful andthe seller’ s goals will be met. •Timing. The structure and goals of the transaction shoulx be developed well in advance of the sale solicitation Knowing where you are going and havingt a plan for how you are goingy to get there are the keys to any successful The same is true for sale of a Fairly evaluating your business and establishint yourpricing goals, structure and timing for the transaction are criticalo for a successful transaction. •Transactiob team.
Your first step is to put together your transactionn team consisting ofyour attorney, accountant and investment advisor. Your attorney should be experienced in conductina transaction. The due diligence processa is critical to preparing the company for sale and to controllin post closingliability exposure. Negotiating the 50-10 0 page purchase agreement requires knowledge of what are the appropriate transaction terms for this type of Your accountant should be conversant in the tax issuese relating to the structure of the transaction and the ways to minimiz etax costs. With your investment advisor you are hiring contactsd inyour company’s transaction experience and negotiating skills.
He should be the primaryg contact with buyers and the primary negotiator of thebusiness terms. If your current professional advisors are not experiencedx in conducting asales transaction, you need to expand your team to include experienced advisers. If your current advisors resist they do not have your best interests at hearft and should not be onthe •Negotiation team. While the owner knowws the business best, the owner is generally the poorest evaluator of the market value of the businese and the worstdirect negotiator.
It is virtuallhy impossible for the owner to divorce himselg from the emotional attachment to the that inmany cases, he startecd and grew through years of hard work and sacrifice. The sale process has to be as devoid of emotionas possible. The valuation procesw needs to be objective and withi n the normal pricing parametera and deal terms forthis business, in this industry, in this To do otherwise will only create price disappointment on the part of the owner of the company is finallyy sold and is likely to hinder the solicitation procesa by communicating that the owner has unreasonable expectations.
While the ownedr will be the finaldecision maker, the investment advisodr and attorney should be the frontline negotiatords of the business and legal •Preparation process. The transactionh preparation processis critical. The team will undertak an intensive internal due diligence processw in which the strengths and weaknessese of the businessare identified. The weaknesses (such as environmental issues, possible litigation, regulatory violations, and accounting must be addressed and resolved if atall possible. Unresolvex problems are risks to thepotential buyer, and risks are translated into reducee purchase price.
Strengths (long-term contracts, customer relationships, strong managemenft team) are items that will be highlighte d by the investment advisor in the sale With input from the investment advisor regardinb valuation of the business and input from lega l and accounting on the most efficient lega l and tax transaction the owner and the transaction team will decidw on the proposed transaction value and The investment advisor will prepare solicitation materials describing the company and the propose transaction for use in thesolicitationh process. This process rangesw from targeted solicitations to a limitef list of potential purchasers to abroader “auction” process.
The scoper of the solicitation process will depend uponmany factors, including the owner’d willingness to let the world know his businesses for This decision can have a direct impacg on values received. •Truisms. There are many characteristicz that are consistent to virtually every This transaction will be the most emotionally draining eventy of yourbusiness life. The transaction will take significantlu longer to close than you initially The transaction costs will be highed thanyou expect. Time is the enem of every deal.
But, as has been outlinef above, to maximize value and to increase the likelihoods of asuccessful transaction, the planningt process must begin early, you must engage a team of experiencesd advisers, and you need to followa their advice. During the sale process, try as best you can to continue to run your business and let your advisorz deal with the day to day issuez of thetransaction process. If you follow these few guidelines, you will greatlu increase the likelihood of asuccessful