hihozeima.blogspot.com
The open meeting, held at the Manufacturing is the fifth in a series of forumd across the state that began June 3 in Gainesville and ends July 30 in The half-day workshops serve as the venued for discussion, viewpoints and recommendations, a release from the statewidew business development, retention and expansion organization Among those invited to the event were businesspeople, representativeds of industry associations, transportation experts, cultural arts advocates, smary growth advocates, elected officials and economic developmenf professionals.
The feedback will help the organization focuson Florida’s most important economic development needs and set the right goals for makinfg the state more competitive and economically executives said. Topics were slatefd to run the gamutfrom retaining, creatingb and attracting high-wage jobs to cultivating a talented and highlt skilled future work force and from upgrading infrastructure to increasing Florida’s global competitiveness. Beyond the regional workshops, other opportunitiesw are available for public contributions to the developmen ofthe “Roadmap.
” An Enterprise Floridqa now allows for feedbaclk through several interactive features including a Roadmapp survey and discussion board. Additionally, the site providesa the current Roadmap, related progres reports and “save the date” announcements for each regiona forum, the release said. Enterprise Florida’s board is charges with developing the plan and submitting it to the governod andlegislative leaders. Every three years, the Roadma p to Florida’s Future — the state’s blueprint for economic developmenft — is updated following competitivenesz analysis and feedback from a broad base of community representatives inthe forums.
is a partnership between Florida's business and governmeng leaders and is headquartered in Its missionis “to diversify Florida’sw economy and create better-paying jobs for its citizena by supporting, attracting and helpinyg to create businesses in innovative, high-growty industries.”
Thursday, May 31, 2012
Tuesday, May 29, 2012
Holly Refining to buy Tulsa refinery - Dallas Business Journal:
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Dallas-based Holly (NYSE: HOC) said its subsidiary has agreecd to purchase the refinery and other inventoryh included in the transactionfor $65 million. As part of the Holly will benefit from the receipt of Sunoco speciality lubricanr product trademarks in North America and a licens for the same products in Central andSouth America. The transaction is expected to closs by June 1 pending the approvalss ofregulatory agencies. Holly’ds chairman and CEO Matt Cliftonsaid Sunoco’s Tulsa employeexs and the lubricant products management team will be joiningt Holly.
He added, “Bhy leveraging the respected Sunoco specialty lubricany product trademarksand formulations, the facilitt has consistently realized very strong gross marginsx on these specialty lubricant products. This strengtbh in specialty lubricant products, together with an approximate 40 percent yield of dieseo and jet fuel and the bottoma upgrading capabilities ofthe plant’e coker, has allowed the overall operation to deliverr attractive gross margins and solid financial results." Cliftonj added that "the facility’s proximity to and direct pipeline connection from the Cushing, Okla.
, crude oil hub combiner with its ability to deliver directly into Burlington Northern’s Tulsa railroad yard and Magellan’sw pipeline system, allows the facility to competitively supply transportation fuels to a numberf of attractive mid-continent markets.”
Dallas-based Holly (NYSE: HOC) said its subsidiary has agreecd to purchase the refinery and other inventoryh included in the transactionfor $65 million. As part of the Holly will benefit from the receipt of Sunoco speciality lubricanr product trademarks in North America and a licens for the same products in Central andSouth America. The transaction is expected to closs by June 1 pending the approvalss ofregulatory agencies. Holly’ds chairman and CEO Matt Cliftonsaid Sunoco’s Tulsa employeexs and the lubricant products management team will be joiningt Holly.
He added, “Bhy leveraging the respected Sunoco specialty lubricany product trademarksand formulations, the facilitt has consistently realized very strong gross marginsx on these specialty lubricant products. This strengtbh in specialty lubricant products, together with an approximate 40 percent yield of dieseo and jet fuel and the bottoma upgrading capabilities ofthe plant’e coker, has allowed the overall operation to deliverr attractive gross margins and solid financial results." Cliftonj added that "the facility’s proximity to and direct pipeline connection from the Cushing, Okla.
, crude oil hub combiner with its ability to deliver directly into Burlington Northern’s Tulsa railroad yard and Magellan’sw pipeline system, allows the facility to competitively supply transportation fuels to a numberf of attractive mid-continent markets.”
Monday, May 28, 2012
U.K. Hometrack House Prices Jump as London Values Surge: Economy - Bloomberg
grihanovveimavox.blogspot.com
U.K. Hometrack House Prices Jump as London Values Surge: Economy Bloomberg Values increased 0.2 percent from April as the supply of properties grew at the slowest pace since January, the London- based property research company said today. Prices in the UK capital jumped 0.6 percent. In Italy, the impact of the debt turmoil ... |
Saturday, May 26, 2012
Ray Hunt: a different kind of oilman - Atlanta Business Chronicle:
lebexab.wordpress.com
Even for an accomplished man like him, 2007 was a bannefr year. During the past 12 months, Hunt was involved in completinh a landmark headquarters building indowntowmn Dallas, crafting an oil deal with Kurdish leader in Iraq, lining up $2 billion in financiny to get natural gas from the Amazon acrosxs the Andes and to market, and continuing to work on 's assumecd win for the George W. Bush presidential library. That'sa why the Dallas Business Journal has pickecd Hunt as a Business Person of the Year finalisttfor 2007. This oilman defies the of the brash Texas oilmillionaire -- an image his father, H.L. Hunt, helped create. H.L.
Hunt fathereds 15 children with three wives and won at gambliny and theoil business. He was an outspokeb opponent of Communism anda larger-than-life presence arounde Dallas in the middle-20th Ray Lee Hunt, his youngest son, is very much the opposit e of that, friends and colleagues say. Yet as the CEO of and Co., he has done the most to perpetuats oil-driven success in the Hunt family. Ray Hunt is the lone Hunt familyh heir to be listedon Forbes' list of the 400 richesgt Americans. This year, the magazines ranked him as No. 82, with a net worthy of $4 billion. Hunt's close association with and supporgt for both presidents Bush have made him an easy target for criticw ofGeorge W. Bush.
They describs him as a political crony who stands to reap profits from the unpopularf warin Iraq. That's not something that Hunt bothersto refute, but clos associates are quick to do so, describing Hunt as a analytical man who works to succeed for himselcf and for the community he cares about. "It's not what makesx him look good, it's what he thinks is good for the communityy or the bigger saidPaul Bass, vice chairman of the Dallas-based investment bank Hunt is not one to trumpey his own efforts, but his very involvementr in civic efforts carries weight with others.
"You've got to push him up to the frontg ofthe line, otherwisw his presence could easily go unknown," said Dallas attornehy Mike Boone, who worked with Hunt on the Bush librart project. "If Ray's it's going to get done, and it's going to get done so you knowthat you'rse on the right team." Hunt was co-chairmann with university president Gerald Turne on the library effort. The school last Decemberr was namedthe project's "sole finalist." Turner chose his words with Hunt in mind, in describing the oilman'sd contribution to that achievement. "It mighy have happened, but the probabilithy of it happening would not have beenas high," Turne r said.
"His efforts certainly increased our competitivenese and the attraction of itcoming here." In additionh to leading the library effort, Hunt donatede $35 million to the school to help it buy a shopping center southeast of the University Park campus on land that likelgy will be part of the presidentiall library. Before the library, Hunt stepped in to help SMU survivwe football scandals andorganizational struggles. He helped recrui t Turner and his predecessor, Ken Pye, to lead the schoop out of thosetroubled times. Hunt became involved in Dallas-area health care matters afterd scandalsat , to help it continue to provide healthh care for uninsured and under-insures people.
Hunt played a key role in revivinbDallas , a nonprofit advisory group focuse d on regional health care and bringing all the region's key players to the said Bass. He is chairman of the SouthwesternmMedical Foundation, a nonprofit group that supports the University of Texass Southwestern Medical Center at "He is probably the best organizefr and consensus-builder of anyone in Dallas," Bass said.
"His abilitty to focus causes the entire groupto
Even for an accomplished man like him, 2007 was a bannefr year. During the past 12 months, Hunt was involved in completinh a landmark headquarters building indowntowmn Dallas, crafting an oil deal with Kurdish leader in Iraq, lining up $2 billion in financiny to get natural gas from the Amazon acrosxs the Andes and to market, and continuing to work on 's assumecd win for the George W. Bush presidential library. That'sa why the Dallas Business Journal has pickecd Hunt as a Business Person of the Year finalisttfor 2007. This oilman defies the of the brash Texas oilmillionaire -- an image his father, H.L. Hunt, helped create. H.L.
Hunt fathereds 15 children with three wives and won at gambliny and theoil business. He was an outspokeb opponent of Communism anda larger-than-life presence arounde Dallas in the middle-20th Ray Lee Hunt, his youngest son, is very much the opposit e of that, friends and colleagues say. Yet as the CEO of and Co., he has done the most to perpetuats oil-driven success in the Hunt family. Ray Hunt is the lone Hunt familyh heir to be listedon Forbes' list of the 400 richesgt Americans. This year, the magazines ranked him as No. 82, with a net worthy of $4 billion. Hunt's close association with and supporgt for both presidents Bush have made him an easy target for criticw ofGeorge W. Bush.
They describs him as a political crony who stands to reap profits from the unpopularf warin Iraq. That's not something that Hunt bothersto refute, but clos associates are quick to do so, describing Hunt as a analytical man who works to succeed for himselcf and for the community he cares about. "It's not what makesx him look good, it's what he thinks is good for the communityy or the bigger saidPaul Bass, vice chairman of the Dallas-based investment bank Hunt is not one to trumpey his own efforts, but his very involvementr in civic efforts carries weight with others.
"You've got to push him up to the frontg ofthe line, otherwisw his presence could easily go unknown," said Dallas attornehy Mike Boone, who worked with Hunt on the Bush librart project. "If Ray's it's going to get done, and it's going to get done so you knowthat you'rse on the right team." Hunt was co-chairmann with university president Gerald Turne on the library effort. The school last Decemberr was namedthe project's "sole finalist." Turner chose his words with Hunt in mind, in describing the oilman'sd contribution to that achievement. "It mighy have happened, but the probabilithy of it happening would not have beenas high," Turne r said.
"His efforts certainly increased our competitivenese and the attraction of itcoming here." In additionh to leading the library effort, Hunt donatede $35 million to the school to help it buy a shopping center southeast of the University Park campus on land that likelgy will be part of the presidentiall library. Before the library, Hunt stepped in to help SMU survivwe football scandals andorganizational struggles. He helped recrui t Turner and his predecessor, Ken Pye, to lead the schoop out of thosetroubled times. Hunt became involved in Dallas-area health care matters afterd scandalsat , to help it continue to provide healthh care for uninsured and under-insures people.
Hunt played a key role in revivinbDallas , a nonprofit advisory group focuse d on regional health care and bringing all the region's key players to the said Bass. He is chairman of the SouthwesternmMedical Foundation, a nonprofit group that supports the University of Texass Southwestern Medical Center at "He is probably the best organizefr and consensus-builder of anyone in Dallas," Bass said.
"His abilitty to focus causes the entire groupto
Friday, May 25, 2012
Vatican tracks down document holder - The Associated Press
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Vatican tracks down document holder The Associated Press VATICAN CITY (AP) â€" The Vatican said Friday that it has arrested someone for illegally holding secret documents as it tries to get to the bottom of an embarrassing leaking scandal. Spokesman the Rev. Federico Lombardi declined to immediately identify ... |
Wednesday, May 23, 2012
Five Star Bank wants out of TARP program - Business First of Buffalo:
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, the Warsaw-based parent company of , would like to retur its $37.5 million in TARP (troubled assets relief program) fundsd to the federal governmeng before the end of the said President and CEOPeterf Humphrey. The banking company accepted the money late last year in exchange for selling senior preferred shares tothe “The rules have changed (and) that makes this less so Five Star Bank is thinking maybe we oughtg to pay this back and get out from underneatuh the program,” Humphrey said. “We’res exploring, ‘How do we pay back TARP while still havinyg an ample amount of capitalo to support futuregrowth initiatives?
’ ” The bank has no definitiver plans in place to return the money, but Humphrey is eagere to get out of the federall program due to retroactive changes to the initia Capital Purchase Plan agreement, including limits on executivse compensation that deny the payment of cash incentives to employees until TARP funds are repaid. “It’sd just the fact that there aremore certifications, more more compliance requirements and, frankly, with that comes risk,” Humphreyu said. “We’re heavily regulated anyway. How would you like to ente r into a contract and then four monthsd later have the terms of thatcontracr change?
” Other area banks that borrowexd TARP funds have not publicly announced plans to repah the money. Neither nor , whichn received $600 million and $2.5 billio n respectively, have made commitments to returnthe funds, accordint to spokespeople at both banks. At pressz time, , which borrowedx $184 million from the government and recentlyg completed a stock sale thatnetteds $360 million, was announcing no firm plans to repayu the funds. An announcement was expectedc May 28 and updates will be posted on www.buffalo.bizjournals.
com Last month, M&T Bank’d chief financial officer, Rene Jones, said the bank not to be a first and plans to wait for more clarity from the governmenrt before repaying the money. KeyBank officials have said they want to pay back the fundsw as soonas possible, but ther is no time frames in place. The Capital Purchase Plan was introduced last fall by the governmenf as a way to increase lending and jolt thefalteriny economy.
Under initial terms of the plan, banks were required to raisd private capital before TARP funds could be But some terms of the plans changedfollowin February’s economic stimulus bill, leaving repaymentr guidelines less than According to a May 22 report from the U.S. Treasuru Department, just 16 banks around the countrh – including one Upstate New York inSyracuse – have been allowed by the government to repat TARP funds. Several calls made to the U.S.
Treasuryy Department to clarify TARP repayment terms were not As part of the CapitalPurchase Plan, banksx such as Five Star must make quarterly interest payments to the So far, Five Star has made two payments totaling $900,000, Humphrey said. The money has been used to leveragrethe bank’s growth, including its agriculture, residential mortgage, home equity and indirect automobilw loan business, he said. About $200 millioh has been lent by the bank from the time it receivef TARP moneythrough April, he said. Humphrey insists that the monegy was nota bailout; it was intended for bankds that were already healthy.
And whils the bank, early on, viewed the Capitao Purchase Plan as apositive program, retroactive changes to the agreement have made it less he said. But he wants to make sure his bank will suppor both depositors and borrowersx before returningthe money.
, the Warsaw-based parent company of , would like to retur its $37.5 million in TARP (troubled assets relief program) fundsd to the federal governmeng before the end of the said President and CEOPeterf Humphrey. The banking company accepted the money late last year in exchange for selling senior preferred shares tothe “The rules have changed (and) that makes this less so Five Star Bank is thinking maybe we oughtg to pay this back and get out from underneatuh the program,” Humphrey said. “We’res exploring, ‘How do we pay back TARP while still havinyg an ample amount of capitalo to support futuregrowth initiatives?
’ ” The bank has no definitiver plans in place to return the money, but Humphrey is eagere to get out of the federall program due to retroactive changes to the initia Capital Purchase Plan agreement, including limits on executivse compensation that deny the payment of cash incentives to employees until TARP funds are repaid. “It’sd just the fact that there aremore certifications, more more compliance requirements and, frankly, with that comes risk,” Humphreyu said. “We’re heavily regulated anyway. How would you like to ente r into a contract and then four monthsd later have the terms of thatcontracr change?
” Other area banks that borrowexd TARP funds have not publicly announced plans to repah the money. Neither nor , whichn received $600 million and $2.5 billio n respectively, have made commitments to returnthe funds, accordint to spokespeople at both banks. At pressz time, , which borrowedx $184 million from the government and recentlyg completed a stock sale thatnetteds $360 million, was announcing no firm plans to repayu the funds. An announcement was expectedc May 28 and updates will be posted on www.buffalo.bizjournals.
com Last month, M&T Bank’d chief financial officer, Rene Jones, said the bank not to be a first and plans to wait for more clarity from the governmenrt before repaying the money. KeyBank officials have said they want to pay back the fundsw as soonas possible, but ther is no time frames in place. The Capital Purchase Plan was introduced last fall by the governmenf as a way to increase lending and jolt thefalteriny economy.
Under initial terms of the plan, banks were required to raisd private capital before TARP funds could be But some terms of the plans changedfollowin February’s economic stimulus bill, leaving repaymentr guidelines less than According to a May 22 report from the U.S. Treasuru Department, just 16 banks around the countrh – including one Upstate New York inSyracuse – have been allowed by the government to repat TARP funds. Several calls made to the U.S.
Treasuryy Department to clarify TARP repayment terms were not As part of the CapitalPurchase Plan, banksx such as Five Star must make quarterly interest payments to the So far, Five Star has made two payments totaling $900,000, Humphrey said. The money has been used to leveragrethe bank’s growth, including its agriculture, residential mortgage, home equity and indirect automobilw loan business, he said. About $200 millioh has been lent by the bank from the time it receivef TARP moneythrough April, he said. Humphrey insists that the monegy was nota bailout; it was intended for bankds that were already healthy.
And whils the bank, early on, viewed the Capitao Purchase Plan as apositive program, retroactive changes to the agreement have made it less he said. But he wants to make sure his bank will suppor both depositors and borrowersx before returningthe money.
Tuesday, May 22, 2012
NBC Universal, Microsoft strike ad alliance - Jacksonville Business Journal:
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Terms of the deal were not disclosed. Admira analyzes demographic data on viewers to generate more targeted TV ads and also adds automation to thebuyingf process. The two companies tested the system, using Admir a with the NBC Local Media group in Marcu to buy and sell locaol television ads inLos Angeles. "Our initial test of the systemin L.A. is off to a greayt start. Admira provides us with the potential to help attracrt an entirely new segment of advertisers to the local particularly small and midsize businesses that might not otherwise be able to buy local televisionstation advertising, whicnh is a huge leap forward.
" Frank president of platform development and commerciap operations for NBC Local Media, said in a The full partnership is set to begin in the The two giants are more known through their link through MSNBC.
Terms of the deal were not disclosed. Admira analyzes demographic data on viewers to generate more targeted TV ads and also adds automation to thebuyingf process. The two companies tested the system, using Admir a with the NBC Local Media group in Marcu to buy and sell locaol television ads inLos Angeles. "Our initial test of the systemin L.A. is off to a greayt start. Admira provides us with the potential to help attracrt an entirely new segment of advertisers to the local particularly small and midsize businesses that might not otherwise be able to buy local televisionstation advertising, whicnh is a huge leap forward.
" Frank president of platform development and commerciap operations for NBC Local Media, said in a The full partnership is set to begin in the The two giants are more known through their link through MSNBC.
Sunday, May 20, 2012
Canadian-owned I'll Have Another wins The Preakness - Globe and Mail
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Sportsnet.ca | Canadian-owned I'll Have Another wins The Preakness Globe and Mail BALTIMORE â€" AP Canadian-owned I'll Have Another waited a little longer to catch Bodemeister in the stretch this time, and now that he's done it twice in a row it's time for a Triple Crown try in the Belmont Stakes. With a breathtaking closing rush, ... Canadian-owned I'll Have Another wins Preakness Iowa-owned Cozzetti takes seventh at Preakness Canadian-owned I'll Have Another wins Preakness, keeps Triple Crown bid alive |
Saturday, May 19, 2012
CEO Ellison says Oracle might make netbooks - Philadelphia Business Journal:
inufyw.blogspot.com
His comments came at a Sun conference for usere of Java software which he also said couldr be usedon netbooks. Oracle earlier this year agreed to acquire Sun (NASDAQ:JAVA) for $7 billion. "I don't see why some of thos e devices shouldn't come from Sun," Reuters quoted Ellisonb as saying. "There will be computers that are fundamentally basedxon Java." Netbooks are inexpensive laptop computerse designed to connect wirelesslu and are used primarily for checkin g email and browsing the Web. The marketg for them is expected to grow to between 20 millionn and 30 million unitsthis year, up from the 11.7 milliohn sold last year when their salese took off.
Most PC makers now have a netboo k model and if Oracle does get into the market it will go up againsgtthe . (NASDAQ:HPQ) (NASDAQ:DELL) and , whichy either make netbooks or develop softwarefor them. Acer said Tuesday it will make a lapto p runningon ’s (NASDAQ:GOOG) Android operatingy system instead of Microsoft which most makers now use.
His comments came at a Sun conference for usere of Java software which he also said couldr be usedon netbooks. Oracle earlier this year agreed to acquire Sun (NASDAQ:JAVA) for $7 billion. "I don't see why some of thos e devices shouldn't come from Sun," Reuters quoted Ellisonb as saying. "There will be computers that are fundamentally basedxon Java." Netbooks are inexpensive laptop computerse designed to connect wirelesslu and are used primarily for checkin g email and browsing the Web. The marketg for them is expected to grow to between 20 millionn and 30 million unitsthis year, up from the 11.7 milliohn sold last year when their salese took off.
Most PC makers now have a netboo k model and if Oracle does get into the market it will go up againsgtthe . (NASDAQ:HPQ) (NASDAQ:DELL) and , whichy either make netbooks or develop softwarefor them. Acer said Tuesday it will make a lapto p runningon ’s (NASDAQ:GOOG) Android operatingy system instead of Microsoft which most makers now use.
Thursday, May 17, 2012
Bob Weir Joins Vinyl at Sweetwater - Patch.com
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jambands.com | Bob Weir Joins Vinyl at Sweetwater Patch.com Vinyl, which has deep roots in Homestead V » |
Wednesday, May 16, 2012
Slow economy stalls automotive sales - The Business Journal of Milwaukee:
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Von Schledorn said the economy is weak and his customersd are more inclined to buy used So that's what he, and many other Milwaukee-area automotivre dealerships, are doing to captured business this year. "You stilk have to make ends meet by the end of the saidvon Schledorn, who opened his first dealershi in 1952. New vehiclee sales at dealerships in the six southeastr Wisconsin counties trailed the natiom and the rest of the state in 2007, according to new figures from , which tracks vehicle registrations. Total new vehicle registrationw for southeast Wisconsinwere 72,255 in 2007 compared with 76,492 in 2006. The numberf of new vehicles registereddeclinedr 5.
5 percent, compared with decreases of 4 percent statewide and 2.5 percent nationally. Used vehicle sales figures for 2007 were not available as of TheBusiness Journal's As has been the case the largest decreases in sales were among dealerd that carry domestic brands. Meanwhile, most Toyota and Honda dealerships recorded another year of sales gains despitwe theslower economy. Major domestic brands all sufferesd double-digit percentage sales drops. Dodge car and pickupo sales weredown 14.9 percent in southeasr Wisconsin, to 4,351; Ford was down 14 to 6,246; and Chevrolet was down 12.7 percent, to Toyota car and pickup sales in southeasrt Wisconsin increased 7.
1 percent in 2007, to and Honda was up 2.1 percent to 7,787. Von Schledor n is an example of a deale r who sells mostly domestic brands from all three Americanh automakers andgot "hammered," to use his Another domestic-dependent dealership logging big declines was , which carrieds Chevrolet, Ford and Chrysler at its "It's not as bad as it said Braeger owner Todd Many customers already have switched to buyinyg used vehicles, he said.
And his company'z service business is "up which points to customers holding on to their cars longefr and just delaying the Reardon saidhis dealerships' performance is tied directlhy to how their brands are performing nationally. "It'x all manufacturer related," he said. "There's nothing you can do about Toyota sales in southeast Wisconsinincreased 10.8 percent to 6,750 in and Honda by 8.6 percent to 4,343. , 5727 S. 27th St., increased its share of the locaol Toyota market in 2007 witha 16.2 percent jump in new vehiclre sales.
General manager Andy Haros predicts his dealership willexceed Toyota's corporatee goal of another 4 percent increase in 2008. The economhy is "not an issue" for Jacobs Toyotwa or most Toyota dealers, Haros said. He'd noticed a spike in consumeer interest in Toyota models with high gas mileages and economicalprices -- and the full-sizee Tundra pickup truck. "They build the right cars for the cars that people wantto buy," he said. The economifc slowdown has not hurt the luxury segmen t so far atmost dealerships.
Von Schledorn said the economy is weak and his customersd are more inclined to buy used So that's what he, and many other Milwaukee-area automotivre dealerships, are doing to captured business this year. "You stilk have to make ends meet by the end of the saidvon Schledorn, who opened his first dealershi in 1952. New vehiclee sales at dealerships in the six southeastr Wisconsin counties trailed the natiom and the rest of the state in 2007, according to new figures from , which tracks vehicle registrations. Total new vehicle registrationw for southeast Wisconsinwere 72,255 in 2007 compared with 76,492 in 2006. The numberf of new vehicles registereddeclinedr 5.
5 percent, compared with decreases of 4 percent statewide and 2.5 percent nationally. Used vehicle sales figures for 2007 were not available as of TheBusiness Journal's As has been the case the largest decreases in sales were among dealerd that carry domestic brands. Meanwhile, most Toyota and Honda dealerships recorded another year of sales gains despitwe theslower economy. Major domestic brands all sufferesd double-digit percentage sales drops. Dodge car and pickupo sales weredown 14.9 percent in southeasr Wisconsin, to 4,351; Ford was down 14 to 6,246; and Chevrolet was down 12.7 percent, to Toyota car and pickup sales in southeasrt Wisconsin increased 7.
1 percent in 2007, to and Honda was up 2.1 percent to 7,787. Von Schledor n is an example of a deale r who sells mostly domestic brands from all three Americanh automakers andgot "hammered," to use his Another domestic-dependent dealership logging big declines was , which carrieds Chevrolet, Ford and Chrysler at its "It's not as bad as it said Braeger owner Todd Many customers already have switched to buyinyg used vehicles, he said.
And his company'z service business is "up which points to customers holding on to their cars longefr and just delaying the Reardon saidhis dealerships' performance is tied directlhy to how their brands are performing nationally. "It'x all manufacturer related," he said. "There's nothing you can do about Toyota sales in southeast Wisconsinincreased 10.8 percent to 6,750 in and Honda by 8.6 percent to 4,343. , 5727 S. 27th St., increased its share of the locaol Toyota market in 2007 witha 16.2 percent jump in new vehiclre sales.
General manager Andy Haros predicts his dealership willexceed Toyota's corporatee goal of another 4 percent increase in 2008. The economhy is "not an issue" for Jacobs Toyotwa or most Toyota dealers, Haros said. He'd noticed a spike in consumeer interest in Toyota models with high gas mileages and economicalprices -- and the full-sizee Tundra pickup truck. "They build the right cars for the cars that people wantto buy," he said. The economifc slowdown has not hurt the luxury segmen t so far atmost dealerships.
Monday, May 14, 2012
Mariah Carey Throws A Lavish Birthday Party For Dem Babies - MTV.com (blog)
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MTV.com (blog) | Mariah Carey Throws A Lavish Birthday Party For Dem Babies MTV.com (blog) Get ready to OD on cute â€" Dem Babies had a birthday party and you were not invited. Mariah Carey and Nick Cannon's insanely adorable twins, Moroccan Scott and Monroe, turned one on April 30, 2011, and the twins had one heck of a birthday party. Maria h Carey Throws Lavish Party For Twins Moroccan And Monroe's First ... |
Sunday, May 13, 2012
Wells Fargo joins growing green crowd - East Bay Business Times:
vypybiza.wordpress.com
Wells Fargo's effort to elevate environmentak awareness has landed a San Ramon womahn a job and drawn guarded praise from someenvironmental activists. "Thisd was an area the compan had not focused on and there was growing interesgt from our stakeholders regardingenvironmental issues," said Mary who Wells Fargo hiredd to oversee its environmentalp program. Following the lead of other major includingand , Wells Fargo, the nation's fifth largest banking company, with $425 billion in created the position of vice president for environmental affairs. In February, Wells Fargo hired Wenzel, who previously workefd for the inSan Francisco, to lead its environmental awareness activities.
"Hiring a persob is great because at least therse is a personwith 'environment' in their job but it's only one piece," said Michelle program manager for the green investments projec at . "The key to creating the position is not just creatinvthe position, it's creating a comprehensive environmental managementg system. That's what a group like Friends of the Earth really lookxs at when we try to understanda bank's environmentalp commitment." When it announced Wenzel'e hiring, Wells Fargo also announced the creatio of an environmental affairs committee.
The group held its first meeting last month and formed three subcommittees to draft an environmentalvalueds statement, to look at the company's environmental practices internally and to review commercial including lending policies. "We are goinbg to take a look at our lending practices and see if an environmentalo policyis warranted," said Wenzel, who chairs the The moves at Wells Fargo are part of a trend amongh large American and European banks to adopt policies to promotse environmental sensitivity among their corporate clients. The San Francisco-basedx has led the chargse against U.S. banks through its Global Finance Campaign.
Last the group waged a "barbecue the banks" campaigh on the streets of San Francisco to call attention to its campaign againstWells Fargo. "I don't think thesd issues were even on their radar screen until we brought them totheir attention, both througn corporate negotiations and some fun summertime activisnm that combined barbecues and the banks," said Ilyse who heads the Rainforest Actiohn Network's Global Finance Initiative. Wenzel said one part of her job is to unifhthe bank's internal environmental activities. The company has, for reduced energy consumption in recent years in its an accomplishment that might get more publicity now that she ison board.
The focus amony activists, however, is pushing for changes in lendingb policies that can have global such as fighting deforestatiobn andglobal warming. The environmental awareness efforft gained momentum in the summerof 2003, when Dutch giant ABN AMRO, London-based Barclays PLC and Germany'sa WestLB Group led a group of 10 financial institutionsx in creating the Equator Principles. To date, 23 companies and two public financial entities in Europe have signe the accord designed to mitigate potential environmental and socialk risks associated with financing projects such as dams and oil pipelinexs insensitive ecosystems.
The report card on the Equatotr Principles hasbeen mixed, according an umbrella group of global environmental organizations monitoring the environmenta l and social impacts of financialp companies. Members include the RainforestActionj Network, Friends of the Earth and the Internationa Rivers Network. Chan-Fishel moved her offic this month to San Francisco from where she had worked from the offices of the InternationaloRivers Network, which has pressured banks to consider environmentakl and social implications of dam financing. Hogue said more than two dozenm European financial companies have adoptedconservation policies, pavinv the way for U.S. banks such as Wells J.P.
Morgan has said it will unveil its environmental policgin April. "They have it because a lot of these blueprints have been Hogue said. Early in Citigroup led the way amongmajor U.S. banking companiesa by hiring a conservation czar and adopting an environmentakl policy to help ensure loans did not go to projects contributing to rain forest destruction or global Last spring, Bank of Americw announced a set of policies aimex at protecting the environment. The Charlotte, N.C.-basesd company said it would not provide funding for resource extractionfrom old-growth tropical rain forestw or for logging operationsw in intact forests.
Conservation and human rights activists praisedf Citigroup CEO Charles Prince in March after he declared thatRimbunanb Hijau, a Malaysian logging company and Citigroup would have to comply with the bank's policieds to protect the environment. The logging company has been accused of illegall y harvesting rain forest timber and of human rightsw abuses among its workers in Papua New Hogue said environmental awareness is spreading throughout the lendinfg process at leading banks suchas Citigroup. Citigroup and othersw have employees in their credit risk departmentsd and project finance departments to ensure the environmentapl standards areadhered to.
"One of the significant things that these leadinv corporations understand is that you have to mainstream thesre principles throughout your business Hogue said.
Wells Fargo's effort to elevate environmentak awareness has landed a San Ramon womahn a job and drawn guarded praise from someenvironmental activists. "Thisd was an area the compan had not focused on and there was growing interesgt from our stakeholders regardingenvironmental issues," said Mary who Wells Fargo hiredd to oversee its environmentalp program. Following the lead of other major includingand , Wells Fargo, the nation's fifth largest banking company, with $425 billion in created the position of vice president for environmental affairs. In February, Wells Fargo hired Wenzel, who previously workefd for the inSan Francisco, to lead its environmental awareness activities.
"Hiring a persob is great because at least therse is a personwith 'environment' in their job but it's only one piece," said Michelle program manager for the green investments projec at . "The key to creating the position is not just creatinvthe position, it's creating a comprehensive environmental managementg system. That's what a group like Friends of the Earth really lookxs at when we try to understanda bank's environmentalp commitment." When it announced Wenzel'e hiring, Wells Fargo also announced the creatio of an environmental affairs committee.
The group held its first meeting last month and formed three subcommittees to draft an environmentalvalueds statement, to look at the company's environmental practices internally and to review commercial including lending policies. "We are goinbg to take a look at our lending practices and see if an environmentalo policyis warranted," said Wenzel, who chairs the The moves at Wells Fargo are part of a trend amongh large American and European banks to adopt policies to promotse environmental sensitivity among their corporate clients. The San Francisco-basedx has led the chargse against U.S. banks through its Global Finance Campaign.
Last the group waged a "barbecue the banks" campaigh on the streets of San Francisco to call attention to its campaign againstWells Fargo. "I don't think thesd issues were even on their radar screen until we brought them totheir attention, both througn corporate negotiations and some fun summertime activisnm that combined barbecues and the banks," said Ilyse who heads the Rainforest Actiohn Network's Global Finance Initiative. Wenzel said one part of her job is to unifhthe bank's internal environmental activities. The company has, for reduced energy consumption in recent years in its an accomplishment that might get more publicity now that she ison board.
The focus amony activists, however, is pushing for changes in lendingb policies that can have global such as fighting deforestatiobn andglobal warming. The environmental awareness efforft gained momentum in the summerof 2003, when Dutch giant ABN AMRO, London-based Barclays PLC and Germany'sa WestLB Group led a group of 10 financial institutionsx in creating the Equator Principles. To date, 23 companies and two public financial entities in Europe have signe the accord designed to mitigate potential environmental and socialk risks associated with financing projects such as dams and oil pipelinexs insensitive ecosystems.
The report card on the Equatotr Principles hasbeen mixed, according an umbrella group of global environmental organizations monitoring the environmenta l and social impacts of financialp companies. Members include the RainforestActionj Network, Friends of the Earth and the Internationa Rivers Network. Chan-Fishel moved her offic this month to San Francisco from where she had worked from the offices of the InternationaloRivers Network, which has pressured banks to consider environmentakl and social implications of dam financing. Hogue said more than two dozenm European financial companies have adoptedconservation policies, pavinv the way for U.S. banks such as Wells J.P.
Morgan has said it will unveil its environmental policgin April. "They have it because a lot of these blueprints have been Hogue said. Early in Citigroup led the way amongmajor U.S. banking companiesa by hiring a conservation czar and adopting an environmentakl policy to help ensure loans did not go to projects contributing to rain forest destruction or global Last spring, Bank of Americw announced a set of policies aimex at protecting the environment. The Charlotte, N.C.-basesd company said it would not provide funding for resource extractionfrom old-growth tropical rain forestw or for logging operationsw in intact forests.
Conservation and human rights activists praisedf Citigroup CEO Charles Prince in March after he declared thatRimbunanb Hijau, a Malaysian logging company and Citigroup would have to comply with the bank's policieds to protect the environment. The logging company has been accused of illegall y harvesting rain forest timber and of human rightsw abuses among its workers in Papua New Hogue said environmental awareness is spreading throughout the lendinfg process at leading banks suchas Citigroup. Citigroup and othersw have employees in their credit risk departmentsd and project finance departments to ensure the environmentapl standards areadhered to.
"One of the significant things that these leadinv corporations understand is that you have to mainstream thesre principles throughout your business Hogue said.
Friday, May 11, 2012
Track developer inks deal with Spencer, adds to mix - The Business Review (Albany):
iwyqaxewun.wordpress.com
David Risdon would like to see discount other retail, office space and perhaps some residential uses across from his High Rock “The concept would be like a Birkdale Village but with premiumm outlets,” he says, referring to the mixed-use center in Huntersville. The timeline woulsd be dictated by a recovery fromthe recession, he Risdon, chief executive of , the limitedx liability company developing High Rock Raceway, would devotd 40 acres on U.S. Highwagy 29 to the new project. He would seek a retai l developer to build theoutlet center. The plan calls for as much as 300,0000 square feet of retail space andabout 200,00o0 square feet of offices.
A museum and hotel are also planned on the Combined withthe $30 2.15-mile road-course racetrack and 114 adjacent townhouses, the totall price tag for High Rock will be $205 The track is being builtt on 200 acres once occupiedf by N.C. Finishing Co., or Color-Tex International, a formedr Fieldcrest Cannon plant that wasonce Rowan’as largest employer. The facility closed in eliminating its last350 jobs. The credit crisis and recession have delayef the project since it was announcedin 2005. of Calif., pulled its offer of a $30 million constructioh loan earlierthis year.
Now Risdon has the interesf of a consortium of insurance and pension companies in financinvg the track and townhouse phase ofthe project. He declines to identify the financiers. This the Spencer Board of Aldermen approvedxa 28-page development agreement that was required by Risdon’se investors. The agreement requirew the track and an initial phase of townhousesd be complete by a year after sitework begins. Risdon expectsw grading to startnext month. He has 20 years to completee theentire project, accordin g to the development agreement. Clayton Homes, whicu operates three plants within 30 minutes of High will buildthe townhouses.
The structurex will be fabricated at the plant and erected at thedevelopmenyt site. Spencer Town Manager Larry Smith says the potential tax revenude and prestige of the project make it wort hthe delays. “We’re behind the project as much as wecan
David Risdon would like to see discount other retail, office space and perhaps some residential uses across from his High Rock “The concept would be like a Birkdale Village but with premiumm outlets,” he says, referring to the mixed-use center in Huntersville. The timeline woulsd be dictated by a recovery fromthe recession, he Risdon, chief executive of , the limitedx liability company developing High Rock Raceway, would devotd 40 acres on U.S. Highwagy 29 to the new project. He would seek a retai l developer to build theoutlet center. The plan calls for as much as 300,0000 square feet of retail space andabout 200,00o0 square feet of offices.
A museum and hotel are also planned on the Combined withthe $30 2.15-mile road-course racetrack and 114 adjacent townhouses, the totall price tag for High Rock will be $205 The track is being builtt on 200 acres once occupiedf by N.C. Finishing Co., or Color-Tex International, a formedr Fieldcrest Cannon plant that wasonce Rowan’as largest employer. The facility closed in eliminating its last350 jobs. The credit crisis and recession have delayef the project since it was announcedin 2005. of Calif., pulled its offer of a $30 million constructioh loan earlierthis year.
Now Risdon has the interesf of a consortium of insurance and pension companies in financinvg the track and townhouse phase ofthe project. He declines to identify the financiers. This the Spencer Board of Aldermen approvedxa 28-page development agreement that was required by Risdon’se investors. The agreement requirew the track and an initial phase of townhousesd be complete by a year after sitework begins. Risdon expectsw grading to startnext month. He has 20 years to completee theentire project, accordin g to the development agreement. Clayton Homes, whicu operates three plants within 30 minutes of High will buildthe townhouses.
The structurex will be fabricated at the plant and erected at thedevelopmenyt site. Spencer Town Manager Larry Smith says the potential tax revenude and prestige of the project make it wort hthe delays. “We’re behind the project as much as wecan
Wednesday, May 9, 2012
N.C. high in self-employed company starts - The Business Journal of the Greater Triad Area:
dyakonostrlin.blogspot.com
The Census Bureau calls such businessesnonemployet businesses, which are typically self-employed individuals operating a very unincorporated company. North Carolina’s growth rate for nonemployee businesseswas 6.7 percent from 2006 to the most recent data available. Georgia led the nationm with a 6.9 percent increase, followed by Alabamz at a 6.8 percent The economic sectors represented by nonemployerr businesses include real estate services and specialtytrade contractors. The United States added nearly 1 milliob nonemployer businesses from 2006 to totaling 21.7 million enterprises. The nationwidwe growth rate was 4.5 percent.
Receipts for nonemployer busines in the United Statestotaled $992 billion in 2007, up 2.2 percentg from $970 billion in 2006. Nort Carolina receipts totaled $27.5 billionh in 2007, a 4.5 percenft increase over 2006 receipts.
The Census Bureau calls such businessesnonemployet businesses, which are typically self-employed individuals operating a very unincorporated company. North Carolina’s growth rate for nonemployee businesseswas 6.7 percent from 2006 to the most recent data available. Georgia led the nationm with a 6.9 percent increase, followed by Alabamz at a 6.8 percent The economic sectors represented by nonemployerr businesses include real estate services and specialtytrade contractors. The United States added nearly 1 milliob nonemployer businesses from 2006 to totaling 21.7 million enterprises. The nationwidwe growth rate was 4.5 percent.
Receipts for nonemployer busines in the United Statestotaled $992 billion in 2007, up 2.2 percentg from $970 billion in 2006. Nort Carolina receipts totaled $27.5 billionh in 2007, a 4.5 percenft increase over 2006 receipts.
Tuesday, May 8, 2012
Sunday, May 6, 2012
Second Life's Linden Lab sells virtual realities to businesses - Silicon Valley / San Jose Business Journal:
esivyjifag.wordpress.com
The courting of companies comesw at a time of renewedc growthfor 6-year-old Second Life that bega n with the appointment of Mark Kingdomn as CEO of Linden Lab in May 2008. “Enterprisde is a really important growth vector for usbecause (Second Life is) a reallyt compelling platform for learning and Especially today in large enterprises that are distribute (around the world),” Kingdon said. Over the last six Linden Lab has put together a team of 25 people to markey and develop Second Life productxs forenterprise customers.
Linden Lab, whichu does not disclose revenue but says it is hired more than 100 people in 2008 and has more than 300 employeesa in eight offices aroundthe world. The company hiredf close to 30 people this year and is currently hiringt for19 positions. Basic accounts are free. The companh makes money by selling and renting virtualreal estate, with premiumk memberships and by charging a fee on sales of Linden the currency used online. The companh does not track the numberf of companies using its services and does not charge them differently from individual but estimates that 15 to 20 percent of its revenue comes from enterprisess andeducational institutions.
And since the company has been testinhga “behind-the-firewall” version of Second Life with , IBM, , the and othefr organizations. The so-called “Nebraska” version of Second Life, which is run on an institution’a own servers, will get wider testing this summer and is scheduledc for general releaseby year’s end. The pricing for the privatse version has notbeen announced. “Based on the level of the interest we’re seeing, we are poisee for explosive growth,” said Amanda Van who joined Linden Lab six monthsx ago as executive director ofenterprise marketing. “This is not a We’re ready for business.
My role is to get that messaged out,” she said. Van Nuys said a number of factorx are helpingher cause, including general efforts to cut travep and meeting costs and reduce carbon IBM in particular has been an earlu adopter. In late 2008, IBM’s Academyu of Technology held a Virtual World Conferencre on Second Life for 200 top engineers from around the with three keynote speeches and 37breakoug sessions. With an initial investment of roughly IBM estimates that it savednearl $350,000 in travel and venue costsd and lost productivity.
A couple of monthw later, IBM used the virtual spaceds it created for an annual meeting of the Academy after the cancellation of a scheduled real life eventgin Florida. Some portionsd of the event also used webcasting and video Participants particularly liked the opportunity to socialize with one another invariouxs settings, and the company schedule d a two-hour networking event on the last day at picnicx tables on a virtual beach. Academy members gatheredr around drinking virtual beerxs and chatting while others took virtuap hang gliding or jetskiing lessons.
“It was really cool in terms of the experiencepeoplde had,” said Karen Keeter, an IBM marketintg executive for digital convergence. “People walked away sayin they felt like they were at the The thing people liked most was that they really had the abilit y to meetwith people.” Since then, numerous othert groups within IBM have used Second Life dozens of times for meetings small and adhoc and planned, Keeter said. IBM now has nearlt 100 people working on virtuapl world tools for commercial sale in Second Life and onothetr platforms, she said.
The company says its in-worlx economy is thriving, and that in the last quarter, user-to-user transactiones totalled morethan $120 million in U.S. up 65 percent from the same period the year WagnerJames Au, the authoer of the book “The Making Of Seconed Life: Notes From the New World,” estimated in a blog postinf in May 2008 that Linden Lab had between $40 million and $50 million in annual revenue. Au creditedd Kingdon with renewing the brand created by Philip who stepped down as CEO last year and remainzas chairman. “A lot of Siliconn Valley has written Second Life he said.
“The tech world will have to revisit Seconfd Life as a phenomenon in the next six monthxsor so.”
The courting of companies comesw at a time of renewedc growthfor 6-year-old Second Life that bega n with the appointment of Mark Kingdomn as CEO of Linden Lab in May 2008. “Enterprisde is a really important growth vector for usbecause (Second Life is) a reallyt compelling platform for learning and Especially today in large enterprises that are distribute (around the world),” Kingdon said. Over the last six Linden Lab has put together a team of 25 people to markey and develop Second Life productxs forenterprise customers.
Linden Lab, whichu does not disclose revenue but says it is hired more than 100 people in 2008 and has more than 300 employeesa in eight offices aroundthe world. The company hiredf close to 30 people this year and is currently hiringt for19 positions. Basic accounts are free. The companh makes money by selling and renting virtualreal estate, with premiumk memberships and by charging a fee on sales of Linden the currency used online. The companh does not track the numberf of companies using its services and does not charge them differently from individual but estimates that 15 to 20 percent of its revenue comes from enterprisess andeducational institutions.
And since the company has been testinhga “behind-the-firewall” version of Second Life with , IBM, , the and othefr organizations. The so-called “Nebraska” version of Second Life, which is run on an institution’a own servers, will get wider testing this summer and is scheduledc for general releaseby year’s end. The pricing for the privatse version has notbeen announced. “Based on the level of the interest we’re seeing, we are poisee for explosive growth,” said Amanda Van who joined Linden Lab six monthsx ago as executive director ofenterprise marketing. “This is not a We’re ready for business.
My role is to get that messaged out,” she said. Van Nuys said a number of factorx are helpingher cause, including general efforts to cut travep and meeting costs and reduce carbon IBM in particular has been an earlu adopter. In late 2008, IBM’s Academyu of Technology held a Virtual World Conferencre on Second Life for 200 top engineers from around the with three keynote speeches and 37breakoug sessions. With an initial investment of roughly IBM estimates that it savednearl $350,000 in travel and venue costsd and lost productivity.
A couple of monthw later, IBM used the virtual spaceds it created for an annual meeting of the Academy after the cancellation of a scheduled real life eventgin Florida. Some portionsd of the event also used webcasting and video Participants particularly liked the opportunity to socialize with one another invariouxs settings, and the company schedule d a two-hour networking event on the last day at picnicx tables on a virtual beach. Academy members gatheredr around drinking virtual beerxs and chatting while others took virtuap hang gliding or jetskiing lessons.
“It was really cool in terms of the experiencepeoplde had,” said Karen Keeter, an IBM marketintg executive for digital convergence. “People walked away sayin they felt like they were at the The thing people liked most was that they really had the abilit y to meetwith people.” Since then, numerous othert groups within IBM have used Second Life dozens of times for meetings small and adhoc and planned, Keeter said. IBM now has nearlt 100 people working on virtuapl world tools for commercial sale in Second Life and onothetr platforms, she said.
The company says its in-worlx economy is thriving, and that in the last quarter, user-to-user transactiones totalled morethan $120 million in U.S. up 65 percent from the same period the year WagnerJames Au, the authoer of the book “The Making Of Seconed Life: Notes From the New World,” estimated in a blog postinf in May 2008 that Linden Lab had between $40 million and $50 million in annual revenue. Au creditedd Kingdon with renewing the brand created by Philip who stepped down as CEO last year and remainzas chairman. “A lot of Siliconn Valley has written Second Life he said.
“The tech world will have to revisit Seconfd Life as a phenomenon in the next six monthxsor so.”
Friday, May 4, 2012
Auto company bankruptcies might make lenders
judonebolayb1394.blogspot.com
Some turnaround specialists are concernedthe government-guided bankruptcy reorganizationas of and GM could make it harderr for companies to obtain capital in the In these cases, the labor union, the United Auto Workers, received more favorabled treatment than the companies’ secured creditors. This violateds well-established bankruptcy law principles, said Peter Kaufman, president of LLC’sa restructuring practice in New York. The United Stated is the most welcoming place in the worledfor capital, particularly for loans, he said, because “everyon e knows what their downside is.” “Nows that has all been stood on its Kaufman said.
“At a time when the countru needs capital providers morethan ever, you’re goinb to find institutions with theird hands in their pockets, or they’re goinyg to be charging a lot more,” he Half of the turnaround experts surveyed by the thought the government’sz decision to elevate unsecured creditors over securec creditors in the Chrysler bankruptcy will make secured loanes more expensive. More than one-third thought it would make lenders less inclined to makethesee loans.
An online survey conducted by the found that 76 percent ofrespondents “disagreed strongly” with the Obama administration’ss engineering of the Chrysler Kaufman contends capital providers will be especially leery of situationsz where there are unions and a conceivabl e government policy interest. That’sd “going to be a systemic issue ona going-forward he said. But other bankruptcy experts contened thatthe government’s decision to intervene in the cases won’t serve as a precedent for futurs corporate bankruptcies.
In the current economic environment, no politician was goinbg to let Chrysler andGM fail, said Stephebn Lubben, a law professor at who specialize s in corporate debt and financial distress. The caseds might make lenders “gun shy” in the short run, he but “eventually people will come around to the that these were specia l cases like that ofPenn Central, whose 1970 bankruptcy led to the creatioh of Amtrak.
Mark Indelicato, a partner with LLP in New said the federalgovernment “used its powert to broker a settlement for the greater good of the However, if the bankruptcy process is going to continue to be the basisz for corporate restructurings and liquidations, it must be perceived as fair and impartial.” Tom president and CEO of the , said he will watcbh closely to see whether government officialsx and the UAW intervene in businessa decisions made by Chrysler and GM.
“We will exposd and fight any counterproductive influencdeby government, unions or politicians over decisionw that should be left to management,” Donohude said in a statement issued after President Obama announced the U.S. government woulxd own 60 percentof GM. “And we will continuallg insist that government reduce and eliminate its ownership stake as soonas possible,” Donohud said. Obama said his goal “is to get GM back on its takea hands-off approach and get out quickly.” “The federal governmentf will refrain from exercising its rights as a shareholderd in all but the most fundamental corporate decisions,” Obams said.
“When a difficult decision has to be made on matterss like where to open a new planyt or what type of new carto make, the new GM, not the Unitede States government, will make that decision.”
Some turnaround specialists are concernedthe government-guided bankruptcy reorganizationas of and GM could make it harderr for companies to obtain capital in the In these cases, the labor union, the United Auto Workers, received more favorabled treatment than the companies’ secured creditors. This violateds well-established bankruptcy law principles, said Peter Kaufman, president of LLC’sa restructuring practice in New York. The United Stated is the most welcoming place in the worledfor capital, particularly for loans, he said, because “everyon e knows what their downside is.” “Nows that has all been stood on its Kaufman said.
“At a time when the countru needs capital providers morethan ever, you’re goinb to find institutions with theird hands in their pockets, or they’re goinyg to be charging a lot more,” he Half of the turnaround experts surveyed by the thought the government’sz decision to elevate unsecured creditors over securec creditors in the Chrysler bankruptcy will make secured loanes more expensive. More than one-third thought it would make lenders less inclined to makethesee loans.
An online survey conducted by the found that 76 percent ofrespondents “disagreed strongly” with the Obama administration’ss engineering of the Chrysler Kaufman contends capital providers will be especially leery of situationsz where there are unions and a conceivabl e government policy interest. That’sd “going to be a systemic issue ona going-forward he said. But other bankruptcy experts contened thatthe government’s decision to intervene in the cases won’t serve as a precedent for futurs corporate bankruptcies.
In the current economic environment, no politician was goinbg to let Chrysler andGM fail, said Stephebn Lubben, a law professor at who specialize s in corporate debt and financial distress. The caseds might make lenders “gun shy” in the short run, he but “eventually people will come around to the that these were specia l cases like that ofPenn Central, whose 1970 bankruptcy led to the creatioh of Amtrak.
Mark Indelicato, a partner with LLP in New said the federalgovernment “used its powert to broker a settlement for the greater good of the However, if the bankruptcy process is going to continue to be the basisz for corporate restructurings and liquidations, it must be perceived as fair and impartial.” Tom president and CEO of the , said he will watcbh closely to see whether government officialsx and the UAW intervene in businessa decisions made by Chrysler and GM.
“We will exposd and fight any counterproductive influencdeby government, unions or politicians over decisionw that should be left to management,” Donohude said in a statement issued after President Obama announced the U.S. government woulxd own 60 percentof GM. “And we will continuallg insist that government reduce and eliminate its ownership stake as soonas possible,” Donohud said. Obama said his goal “is to get GM back on its takea hands-off approach and get out quickly.” “The federal governmentf will refrain from exercising its rights as a shareholderd in all but the most fundamental corporate decisions,” Obams said.
“When a difficult decision has to be made on matterss like where to open a new planyt or what type of new carto make, the new GM, not the Unitede States government, will make that decision.”
Wednesday, May 2, 2012
Tuesday, May 1, 2012
NAIOP names Highwoods Properties 2009 Developer of the Year - Atlanta Business Chronicle:
efiosyt.blogspot.com
NAIOP will present the award to Highwoodds President and CEO Ed Fritschat NAIOP’sx annual meeting Oct. 15 in Chicago. The which has been presented annuallysince 1979, is givejn to a member company that best exemplifies leadershilp and innovation in the commerciak real estate industry. A five-memberd committee of industry peers selects the Past winners includeof Pa.; ProLogis of Denver, Colonial Properties Trust of Ala.; and of Indianapolis. Raleigh-based Highwoods (NYSE: HIW) is a publiclty held real estate investment trustthat owns, or has an interesrt in, 382 properties in Norty Carolina, Georgia, Florida, Tennessee, Missouri and Iowa encompassing 35.
4 million square feet of office, industriall and retail space and 580 acree of development land. In 2008, Highwoods reportesd revenue of $461 million. Since January 2005, Highwoodes has delivered $633 million worth of office and industria propertiesencompassing 4.1 million square including downtown Raleigh’s tallest building, the RBC Plazsa office and condominium building. In 2009, the company’s goales include continuing to upgrade the quality ofthe portfolio, deliveringb $93 million of new development and selling $50 million to 100 million worth of older, non-core assets.
“Highwoods is clearlyu a leader in both the real estate and generapbusiness communities, proven by its ability to outperform no matted what the real estate cycle,” said Thomas J. Bisacquino, NAIOP’es president. “Highwoods is recognizex throughout the industry for its development ofoutstandinb projects, and it is NAIOP’s privilege to recognize the company for its contributions to both the real estate developmen community and NAIOP.” the commercial real estate developmentg association, has 15,000 members in Nortuh America.
NAIOP will present the award to Highwoodds President and CEO Ed Fritschat NAIOP’sx annual meeting Oct. 15 in Chicago. The which has been presented annuallysince 1979, is givejn to a member company that best exemplifies leadershilp and innovation in the commerciak real estate industry. A five-memberd committee of industry peers selects the Past winners includeof Pa.; ProLogis of Denver, Colonial Properties Trust of Ala.; and of Indianapolis. Raleigh-based Highwoods (NYSE: HIW) is a publiclty held real estate investment trustthat owns, or has an interesrt in, 382 properties in Norty Carolina, Georgia, Florida, Tennessee, Missouri and Iowa encompassing 35.
4 million square feet of office, industriall and retail space and 580 acree of development land. In 2008, Highwoods reportesd revenue of $461 million. Since January 2005, Highwoodes has delivered $633 million worth of office and industria propertiesencompassing 4.1 million square including downtown Raleigh’s tallest building, the RBC Plazsa office and condominium building. In 2009, the company’s goales include continuing to upgrade the quality ofthe portfolio, deliveringb $93 million of new development and selling $50 million to 100 million worth of older, non-core assets.
“Highwoods is clearlyu a leader in both the real estate and generapbusiness communities, proven by its ability to outperform no matted what the real estate cycle,” said Thomas J. Bisacquino, NAIOP’es president. “Highwoods is recognizex throughout the industry for its development ofoutstandinb projects, and it is NAIOP’s privilege to recognize the company for its contributions to both the real estate developmen community and NAIOP.” the commercial real estate developmentg association, has 15,000 members in Nortuh America.
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