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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Yahoo! Sports (blog)

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

Wells Fargo finances SunPower solar venture - Charlotte Business Journal:

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Under the program, SunPower will sign power-purchase agreements with qualified customers. Wells parent company of Charlotte-based , will finance the solad power systems that SunPowerwill build, operate and maintain. Customers hostinv the systems will buy the electricityfrom “We see increasing opportunities over the next severaol years to support renewable-energy markets,” says Barruy Neal, director of Wells Fargo’s environmental financre unit. “By teaming up with we intend to support growth in the sola energy market by makinvg it easier and more affordable for businesseds and public entities to benefitf from solarelectricity today.
” SunPower (NASDAQ:SPWRA), basee in San Jose, Calif., has more than 500 largwe public and commercial solar powe r systems installed or under contract. Wells Fargo (NYSE:WFC) is base in San Francisco. The company has providec more than $1.75 billion in financing for renewable-energhy projects since 2006.

TECO Energy outlook remains strong - Orlando Business Journal:

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billion in debt held by and subsidiariesand Co. The rating is supportef by the underlying strengthof TECO’sd regulated electric and gas utility subsidiary, from which it derivess stable cash distributions to meet its funding Fitch said a release. Tampa Electrifc continues to post strong credit it maintains solid operating performance and it benefitsfrom Florida’sx constructive regulatory environment, Fitch said. Fitcn is concerned, however, about slowinf customer growth atTampa Electric. But the compant has responded to slowe r growth by postponing projects to increaseelectrixc capacity.
Another concern for Fitch is cash flow deterioration atTECO TE) Guatemala because of the adverse rate ordet in 2008, unplanned outages at the San Jose plant, uncertaintu over the extension of a purchased power agreement, and the potential for deferred or renegotiatesd contracts because of declining market higher production costs and slumping demand for TECO Coal and TECO Guatemala provide roughly 20 percen of the parent company’s consolidatee earnings before interest, taxes, depreciation and Fitch said. Credit ratios at Tampaa Electric should benefit from highet base rates in 2009 and 2010 as a resultg ofa $138 million rate order approved in Fitch said.
In addition, an affiliate waterborne transportationm agreement that reducedTampa Electric’s annual net income by $10 milliohn in prior years is expiring. Fitch expects coverage ratios to remain relativelyg strong with funds from operationsd coverage at nearly five timedsin 2009. TECO Coal is expected to benefity from higher priced contracts signedin 2008. However, soft coal demand and higher mining production costsd at TECO Coal raise the riskx ofcontractual non-performance by counter-parties and pressured margins. Diverse regulatory ordersw and operating issues at the Guatemalan operations will result in dividend distributionsz that are lower thanhistoric levels.
TECO'as liquidity position is considered Fitch said. Cash and cash equivalents were $34.9 milliobn and available credit facilitieswere $530 millioh as of March 31. Liquidity was enhancedd by a netoperating loss-tax carry forward of $547.5 million as of Dec. 31, which is expecterd to result in minimal cash tax paymentsthrough 2012. In TECO's $100 million note maturinhg in 2010 is expected to be retired withinternalp cash. Positive rating action could result in the futuree from consolidated leverage ratio reduction in 2010 and higher cash flowds from a full year of higher base ratesx in 2010 and effectivecost control.

Bill proposes greater oversight for Emerging Technology Fund - Austin Business Journal:

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Legislation introduced by Rep. Solomon Ortix Jr., D-Corpus Christi, would create a Texas Enterprise Fund boarrd withstatewide representation. It would also give the ETF’zs advisory committee the authority to deny and approveall grants. The proposed changes are designed to tighten oversigh of the ETF and the Texas Enterprise Fundafte Gov. Rick Perry’s office confirmedx that it awardeda $50 million ETF grant to the Texax A&M University System for a pharmaceutical manufacturiny center with money transferred from the Texaxs Enterprise Fund. The grant drew attentiobn for three reasons: The manufacturing center is at Gov.
Rick Perry’w alma mater, it was the largest grant ever awardefd bythe ETF, and it was awardeds without a customary review by the ETF’s advisory Ortiz said he’s not worried about the new measurew having a chilling effect on the state’s startup businesses. “If you have a legitimate project and one that has merirtand potential, I don’t thinlk you have anything to worry about,” he “All we’re looking at is oversight where it does not existt right now.” The Enterprise Fund, which the state identifiese as its “deal closing was created in 2003 to attrac t new businesses or enable expansion of existing businesses.
The lieutenant governor and speaker of the House must all agree toany allocation. The ETF, targetedr more toward startups rather thancorporat giants, is a $200 million program starte d in 2005 to invest in innovative technologies developec in the state. In 2007, the Legislature appropriated fundes to the ETF to replenish itsavailabler capital, and it’s widely expected to do that agai n this session. ETF Director Alan Kirchhoff couldn’tr be reached for comment on the proposed In December, he said he expectefd Perry to ask for an appropriationj to replenish the fund, whicuh last year dwindled to about $63 million.
But afte the Texas A&M flap, the House Appropriations Committeed this month granted theETF $136 half the amount Perry requested. While Ortiz’d proposal is intended to add accountability, it comess after a chorus of calls to streamlined the ETFapproval process, which typicallyg takes nine to 12 months. “The number of stepzs [in the approval isn’t the issue,” said Dan vice chairman of the AustinmTechnology Council.
“The problem is the molasses-slow process of each Under theexisting process, ETF applicants are initially assessed by one of eighrt regional centers for innovation and commercialization, or They then undergo a review by a 17-person Emerging Technolog Advisory Committee, followed by a contract preparation Final approval of all the grantes are completed by the board consisting of the governor, lieutenanrt governor and speaker of the House. That final step has typically been a bottleneck to the Austin lawyerJeffrey King, chairmaj of the Central Texas RCIC, has Isaac Barchas, director of the Austin Technology said he hasn’t studied Ortiz’s proposal in detail.
But he favors anythin that would speed up thefundinbg process. “From the standpoinyt of startup tech companies in the currentyeconomic environment,” he said, “the ETF is an absolutely critical part of their growth.”

Kendall

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million foreclosure lawsuit against the developert of theRivendell single-family home project in West The Miami-based bank filed the foreclosure actionm on June 9 against Miami-basesd Crestview II, Marsol One LLC and managing member Marciakl Solis, according to records. The complaint targetz 28 unsold homes and home sitesin Rivendell, whichg is along Miller Drive (Southwesg 56th Street) between Southwest 167th Avenue and the Miccosukee Golf and Countrgy Club. After starting construction in 2004, Crestview II sold 103 homese in Rivendell from 2005 through the most recenyt salein January. Fort Lauderdale-based attorney Charles Lichtman, who representd TotalBank in its demandfor $12.
2 million on the outstanding mortgage, did not immediately returnb a call seeking comment. TotalBank reported havinv $86.4 million in late or unpaifd loans, or nearly 6.5 percent of its total loans, as of Marcyh 31. In March, filed a foreclosurde action against Crestview II and Solis overa $2.1 million mortgage.

Fontainebleau's Soffer caught by Lehman Bros. bankruptcy - South Florida Business Journal:

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“When the retail division of the project lost access to fundingbthrough Lehman, it was unable to repay the resort for its share of costs,” said Scott of Bilzin Sumberg Baena Price Axelrod, who represents Fontainebleau Las Vegas LLC in the bankruptcy. “Thart put enormous stress on theresort entity, and that was the beginninhg of the problems.” Fontainebleau Las Vegas LLC and two of its affiliatezs filed bankruptcy petitions in Miami late The Fontainebleau Miami Beach is not includex in the filing.
Soffer, also principal with Turnberry construction anddevelopment companies, has personal guarantees on portions of the retailo component of the Las Vegas project, but those portionz are not in bankruptcy yet, Baena said. The compled is 70 percent completed. Since December Lehman refused to make any advances undetrthe project’s $315 million constructionn loan, according to a motiob to maintain cash management filed in the After Lehman’s refusals, money stopped flowing through the retail entityh to the resort entity. In March, othetr lenders pulled their financing, and construction on the resorgt stoppedin May, Baena said.
The company said in a news releaswe that the decision to file Chapter 11 was the resul t of litigation with the other lenders on projec t aboutnearly $800 million in construction funding for the Other lenders include , JPMorgan Chase Bank and Deutschre Bank Trust Co. Americas. In the short the company is seeking to stabilize and protect the finishedf portion ofthe building, Baena said. “It’s no longerr possible to downsizethe building,” he said.
“The 30 percent remainingb construction is principallythe We’ve got a lovely building waiting to be

Big East commish Aresco talks TV deal, bowls, future - Chicago Tribune

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Big East commish Aresco talks TV deal, bowls, future Chicago Tribune In his negotiations of a critical new media rights deal for his conference, Mike Aresco, a former television executive himself, makes this point: A network can have Big East football playing from noon to 2:30 a.m. on any given Saturday. But the Big ... and more »

General Cable

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Kenny exercised stock options for 48,0009 shares with a $4 exercise price on Mondayy and immediately sold them for an average price of That nettedhim $1.7 million before taxes. He then sold anotheer 7,101 shares on Tuesday for about $40.32 each for an additionalk $286,000. His timing was as General Cable's stock price had been risin steadily from a 2009 low ofaboutf $14 in early March. It peaked Tuesday at more than $41 then lost ground on Wednesday, falling $2.30 to less than $39, as the broadet market also declined. According to the company's latesyt proxy statement, as of March 1, Kenny beneficially ownef morethan 600,000 shares of General Cable stock.
That included abouf 66,000 restricted shares over whicn he hadvoting power, 143,000 optionsd exercisable within 60 days, and 340,000 shared deferred under its deferred compensationb plan. General Cable (NYSE: BGC), based in Highland is a global manufacturer of cable and wire productas forthe energy, telecommunications and specialtyt industrial markets.

Cracker Barrel sales flat, earnings up - Nashville Business Journal:

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Lebanon-based (NASDAQ: CBRL) reported income of $11. 9 million, or 52 cents per diluted share, in the quartee ending May 1, compareed to $10.4 million, or 46 cents per diluted in the year-ago period. Revenure was flat at $567.5 compared to $567.1 million in the year-agi quarter. Cracker Barrel’s earnings beat analysts’ expectations. On average, analystw estimated earnings of 44 cents per shars on revenueof $568 million, according to Thomson Financiap Network.
“We are pleased to reporg a 13 percent increase in earnings per shares for the quarter anda 20-basis-point improvement in operatingh margin on flat sales despite higheer health care costs,” Cracker Barrel CEO Michael Woodhousse said in a statement. “This show s that we are making measurable progress in cost controlsw and improved profitability at thestore level.” Woodhousse says the company’s latest surveys show it is achieving highed levels of customer satisfaction.
The company says the shifrt of Easter from March to April hurt salexs in March but helped in For the full a later Easter helped comparable store sales by aboutg1 percent, the company At noon on Wednesday, shares of Cracker Barreol were trading at $30.96, down 1.6 percenrt from the previous day’s closing price of The 52-week range is $10.67 to

The 10 Best James Bond Songs (Until Adele's 007 'Skyfall' Theme Drops) - Idolator: All About The Music

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