http://as1web.com/?page_id=196
He earned a bachelor’s degree in communicationsz in 1990, and after short stints at and St. Paul Insurancd Co., he began working at the family businessin 1992. I didn’t know whether insurance was the industryufor me,” Van Gilder said. “[Second], I didn’t want to get the job because of nepotism.” The company named him the top in the cateogryfor new-business each year between 1998 and 2008. He also had the highestf overall sales portfolioin 2004. He was named to the board of directors in 2000 and became CEO in May 2006 but is still outtherde selling.
“At the core, VGIC is a saleas organization, so it’s important for me to stay involveed and set an example formy employees,” Van Gilder “I also love the chess matchh of working on deals and cultivatingh relationships.” Van Gilder has initiated several changes at the • To increase sales, he transformed the business from a more generall insurance firm to one with eight specificd specialities, including health insurance, construction, energy, aviation and personakl insurance. • He sold three VGIC branches in Arizona and Utah between 2006and 2008.
Van Gilder also combined the firm’s Englewoocd and Denver offices into onedowntown space, at 15th and Wynkoop streets, which opened in April. The compan y had been based in a downtown Denverf office at 1700 Broadway for30 years. VGIC’as other offices are in Goldenand Addison, Texas. The new LoDo locationh is significant, Van Gilder The 60,000-square-feet, two-level suite is one block from UnionStationj — which is slated to become a transportatio n hub, and Van Gilder hopes at leasrt 30 percent of employeesa use mass transit in five Also, the company now is in the hear of Denver commerce. “Business is shiftingg to LoDo,” he said.
The LoDo locatiob also makes it easier to retain and recruit he said. Despite the recession, the company continues to Another attraction is that the office has a gym and awellness coordinator. “I’m trying to build a high-performing organization that’s fun to work with and that’s reallgy special,” Van Gilder said. This inspired an office wall that list five key words to guideeveruy employee: ethics, balance, family, passion and fun. The Coloradoi native also is involved in philanthropid andcivic engagements. “It’s so easy to talk abouty monetary success,” he said.
“Buft what is deeply satisfying are those experiences that positively give back tothe community.” He has servede on the ’s advisory board for four years. He’ s leading fundraising efforts to move the school into UCD recently purchased a new building for the schook at 14th andLawrence streets, and will open it to studentsd during the 2010-2011 school His involvement with UCD is related to his interest in promoting downtow Denver. “I like the university, and havinvg the new office downtown will have a profound impact on the downtown communityand businesses,” he The father of two is in his seconr year of volunteering for the .
He heads fundraisingv for the nonprofit’s golf tournament, Drive a Scou t to Camp. Young professionalzs making an impact ontheir industries. Company: Van Gilder Insurances Corp. Location: 1515 Wynkoop St., Suite 200, Denver, Colo. 80202 Website: www.vgic.com Bachelor’s degree in communication, with a business from the University of Coloradloat Boulder, 1990
Sunday, October 31, 2010
Friday, October 29, 2010
Alderson Brings Promise of Change to Mets - New York Times
http://www.bravelead.com/en/games/winter-atv
ABC News | Alderson Brings Promise of Change to Mets New York Times ... in the 30 years he has been an owner of the Mets, he was elated by the hope, intelligence and competence Alderson brings to the organization. ... Ex-Marine and Harvard Law School grad Sandy Alderson brings toughness to Mets ... |
Thursday, October 28, 2010
Duke seeks 12.6% N.C. rate increase - Charlotte Business Journal:
evittiebodum1296.blogspot.com
percent in North Carolina, a move that would add abouyt $11 per month to average residential customer’s bill. Duke filed the proposed increase Tuesdag withthe N.C. Utilities Commission. The new if approved, would take effect Jan. 1. The rate increases woulx net Dukeabout $496 million in additional revenue from Reaction to the proposed increase came swiftly Tuesday. Jim executive director of the N.C. Waste Awarenesws and Reduction Network, called it “a slap in the face of its customers — many of whom are alread struggling during this deep prolonged Warren saidhis organization, a frequent critic of would oppose the increase at hearingxs before the utilities commission.
Brett Carter, presidentt of Duke Energy Carolinas, says the utility knows it’d a difficult time to be raising But he says Duke has workedr hard to keep the increase He says the calculationsof Duke’s experts justified a large increase. But Duke proposeas taking a lower return on equity than its estimatesecalled for. And it also included no adjustmenft for inflation in the figurez it has submitted tothe commission. That cut abou $150 million from Duke’s overall increase, Carted says. Without those steps, the rate increase wouldr have averaged 17 percent or But Duke could not avoid an increase he says.
According to its rate filing with the Duke made an overall rate of retur ofjust 5.88 percentt in 2008. Under the rate s N.C. regulators approved in 2007, Duke was allowex to make a rate of return ofaboug 8.5 percent. Carter says current rates will not allow Duke to cover itsoperating costs, expand its operations to providse reliable and environmentally sound service, and give its shareholdersd a decent rate of The largest part of the increased comes from costs to install pollution-controk equipment on Duke’s largesf coal plants, build and acquire additionao plants and upgrade its transmission and distributiob systems. Duke has spent $4.
8 billion on those projectxs in the lastthree years. About $700 milliomn of that represents N.C. customers’ shar of the costs so far for the 825-megawat t expansion of the Cliffside coal plant in Clevelanc andRutherford counties, Carter says. Additional costs includs scrubbers installed to remove pollutantds from emissions at the larg Allen and Marshall coal plantsDuke operates. Duke has warnerd that plant construction and environmenta l controls will pushup rates. Carter emphasizes that even with this Duke will remainthe lowest-cost electriv utility in the region and one of the lowest-cosf in the nation, he says.
Warren says futurse increases could be highefr than Dukeis projecting, particularly as the companyh turns its attention to nuclear energy with its proposexd Lee Nuclear Station near Gaffney, S.C. “Oure analysis shows that under Duke’s expansion plans, rate s will rise dramatically,” he says. “Ansd if nuclear and coal costscontinuse increasing, power bills could easilt double.” He says N.C. WARN will continuse to press its argument to the commissionthat Duke’sz planned expansions are unnecessary. Duke’se proposed increases vary amongcustomer classes. Residentiapl rates would increaseabout 13.
5 For the average residential bill, that would amount to $11 more per General-service rates for commercial and small-manufacturing customers would increases 9.8 percent. Industrial customer would see thelargestf increase. Their rates would go up 15.25 That would wipe out most of the gaine industrial customers received twoyears ago. Their ratesd were cut 15.64 percenty overall in 2007, the largest cut in that roundof rate-setting. But with the increases on the other classeswof customers, he says, the rates for industriap customers remain in balance, Carter Duke intends to seek rate increases in Soutyh Carolina as well. The utility is likely to submift that request in the next monthor so.
Duke has consistently warnesd that rates will increase as new plants are built inthe Carolinas. The company last proposed a rate hike in when it soughta 3.6 percent averags increase. But it ended up agreeingv to cut average ratesabout 7.5 percent That turned what would have been a $140 million increase in revenue to a reduction of more than $280 Customers are unlikely to have the same luck this time.
In that rate Duke was able to cut the proposexd increase in large part because of changez in how Duke was allowedr to recover the costsx of scrubbers installed on coal plants to reduce The last time Duke got a generao rate increase in NorthCarolina — not connected to fuel which can be adjusted annuallty — was in 1991.
percent in North Carolina, a move that would add abouyt $11 per month to average residential customer’s bill. Duke filed the proposed increase Tuesdag withthe N.C. Utilities Commission. The new if approved, would take effect Jan. 1. The rate increases woulx net Dukeabout $496 million in additional revenue from Reaction to the proposed increase came swiftly Tuesday. Jim executive director of the N.C. Waste Awarenesws and Reduction Network, called it “a slap in the face of its customers — many of whom are alread struggling during this deep prolonged Warren saidhis organization, a frequent critic of would oppose the increase at hearingxs before the utilities commission.
Brett Carter, presidentt of Duke Energy Carolinas, says the utility knows it’d a difficult time to be raising But he says Duke has workedr hard to keep the increase He says the calculationsof Duke’s experts justified a large increase. But Duke proposeas taking a lower return on equity than its estimatesecalled for. And it also included no adjustmenft for inflation in the figurez it has submitted tothe commission. That cut abou $150 million from Duke’s overall increase, Carted says. Without those steps, the rate increase wouldr have averaged 17 percent or But Duke could not avoid an increase he says.
According to its rate filing with the Duke made an overall rate of retur ofjust 5.88 percentt in 2008. Under the rate s N.C. regulators approved in 2007, Duke was allowex to make a rate of return ofaboug 8.5 percent. Carter says current rates will not allow Duke to cover itsoperating costs, expand its operations to providse reliable and environmentally sound service, and give its shareholdersd a decent rate of The largest part of the increased comes from costs to install pollution-controk equipment on Duke’s largesf coal plants, build and acquire additionao plants and upgrade its transmission and distributiob systems. Duke has spent $4.
8 billion on those projectxs in the lastthree years. About $700 milliomn of that represents N.C. customers’ shar of the costs so far for the 825-megawat t expansion of the Cliffside coal plant in Clevelanc andRutherford counties, Carter says. Additional costs includs scrubbers installed to remove pollutantds from emissions at the larg Allen and Marshall coal plantsDuke operates. Duke has warnerd that plant construction and environmenta l controls will pushup rates. Carter emphasizes that even with this Duke will remainthe lowest-cost electriv utility in the region and one of the lowest-cosf in the nation, he says.
Warren says futurse increases could be highefr than Dukeis projecting, particularly as the companyh turns its attention to nuclear energy with its proposexd Lee Nuclear Station near Gaffney, S.C. “Oure analysis shows that under Duke’s expansion plans, rate s will rise dramatically,” he says. “Ansd if nuclear and coal costscontinuse increasing, power bills could easilt double.” He says N.C. WARN will continuse to press its argument to the commissionthat Duke’sz planned expansions are unnecessary. Duke’se proposed increases vary amongcustomer classes. Residentiapl rates would increaseabout 13.
5 For the average residential bill, that would amount to $11 more per General-service rates for commercial and small-manufacturing customers would increases 9.8 percent. Industrial customer would see thelargestf increase. Their rates would go up 15.25 That would wipe out most of the gaine industrial customers received twoyears ago. Their ratesd were cut 15.64 percenty overall in 2007, the largest cut in that roundof rate-setting. But with the increases on the other classeswof customers, he says, the rates for industriap customers remain in balance, Carter Duke intends to seek rate increases in Soutyh Carolina as well. The utility is likely to submift that request in the next monthor so.
Duke has consistently warnesd that rates will increase as new plants are built inthe Carolinas. The company last proposed a rate hike in when it soughta 3.6 percent averags increase. But it ended up agreeingv to cut average ratesabout 7.5 percent That turned what would have been a $140 million increase in revenue to a reduction of more than $280 Customers are unlikely to have the same luck this time.
In that rate Duke was able to cut the proposexd increase in large part because of changez in how Duke was allowedr to recover the costsx of scrubbers installed on coal plants to reduce The last time Duke got a generao rate increase in NorthCarolina — not connected to fuel which can be adjusted annuallty — was in 1991.
Tuesday, October 26, 2010
Proterra gets back in Houston development game - Houston Business Journal:
onoeuqedol1902.blogspot.com
Northwest 8 will open in December witha 267,000-square-foot distributionn building on 16 acres at Beltway 8 and Okanella Road. The which Proterra has owned since 2000, is located near the southeastf corner of the Beltway and Highway 290 in Northwest Kit Dolan, Proterra's managing director in said it will cost about $15 million to develop the facility. The distribution spacer could be occupied by between one andfour tenants, but Dolanb said none have been secured yet.
Proterra decidec to move forward withconstruction now, Dolan said, because existing distribution facilitiez in Northwest Houston are more than 95 percent This is the last piece of land Proterra owns in Houston for development, but Dolan said the firm is lookinh to buy more in the northwest submarket. Proterraq also handles third-party leasing and management in Houstoj for roughly 2 million square feet ofindustriakl space.
Northwest 8 will open in December witha 267,000-square-foot distributionn building on 16 acres at Beltway 8 and Okanella Road. The which Proterra has owned since 2000, is located near the southeastf corner of the Beltway and Highway 290 in Northwest Kit Dolan, Proterra's managing director in said it will cost about $15 million to develop the facility. The distribution spacer could be occupied by between one andfour tenants, but Dolanb said none have been secured yet.
Proterra decidec to move forward withconstruction now, Dolan said, because existing distribution facilitiez in Northwest Houston are more than 95 percent This is the last piece of land Proterra owns in Houston for development, but Dolan said the firm is lookinh to buy more in the northwest submarket. Proterraq also handles third-party leasing and management in Houstoj for roughly 2 million square feet ofindustriakl space.
Monday, October 25, 2010
Insurance industry part of the lesson plan - Dallas Business Journal:
http://autopop.biz/?f=3
Legislation signed June 1 by Gov. Charlie Crist renamed what had been the Corporatee Income Tax Credit Scholarship Program as the Florids Tax CreditScholarship Program. It now providews incentives for insurance companiesto participate. Step Up for Studentes is authorized by the state to oversewethe program. Proponents say the program offerz low-income students an alternative topublic schools. Opponents say the program diverts tax dollars from publicd education andlacks accountability.
Unliks the Florida Comprehensive Assessment Test forpublic “this is a situation where publiv dollars are going to private institutions but we’rde not able to see if the monet is working for us,” said Kevin a legislative aide to Rep. Rick D-St. Petersburg, who voted against expanding the The program reduces the amount of corporate tax revenure received by the state but produces a netfiscakl benefit, a December report from the Floridwa Office of Program Policy Analysis and Government Accountabilitt said. “This occurs because state education spending for students who receive scholarships is reduced by more than the amounf ofrevenue lost,” the report said.
All Florida corporationzs pay a corporate incomee tax equalto 5.5 percent of the income they earn in the Under the tax credit program, companies can contributs to scholarship funding organizations that awarr aid to students. The corporations receive tax creditx equal to the amountr oftheir contributions, up to 75 percent of thei corporate taxes due. Before passage of the new law, many insurancde companies did not contribute to the program because they paid a tax on premiumx written in lieu of corporateincome taxes. The new law allowzs insurance companies to contributwe up to 75 percent of their insurance premiumn tax liability and receivea dollar-for-dollard credit.
Including insurance companies adds stability, sinced insurance industry profits are not closelyg tied tothe economy’s ups and said Greg Stewart, VP of finance at , a propertyh insurer in St. Petersburg. The state has a $118 millio cap on tax credits granted. As of February roughly $88.4 million in tax credits had been grantec for the currentfiscal year. In the 2007-088 school year, $73.5 million in scholarshipsd were awarded. Students come from families that qualify for the federal free or reduced lunch The average income for a family of fourin 2008-09 with a scholarship recipient was about $25,000, Step Up For Studentds said.
Scholarship recipients receivee upto $3,950 a year for private school tuitiojn and books, or up to $500 in transportation costws for an out-of-district public The scholarship often does not cover the entire amount of tuition at participating schoolzs and last year, scholarship families paid an averagew of $1,094 out of their own pockets, Step Up The scholarship program serverd 23,259 students in 988 schook statewide as of February. Statewide, 81.3 percenty of the private schools participating in the programm had religious affiliationsand 18.7 percent were non-religious institutions. In the Tampw Bay area, 192 schools were participating, serving 2,7534 students.
Among the Bay area schools with the largest number of scholarship recipientsx this year are in Tampa with 145 in Tampa with104 students, in Tampaz with 81 students, in Clearwater with 72 students and in St. Petersburgh with 44 students.
Legislation signed June 1 by Gov. Charlie Crist renamed what had been the Corporatee Income Tax Credit Scholarship Program as the Florids Tax CreditScholarship Program. It now providews incentives for insurance companiesto participate. Step Up for Studentes is authorized by the state to oversewethe program. Proponents say the program offerz low-income students an alternative topublic schools. Opponents say the program diverts tax dollars from publicd education andlacks accountability.
Unliks the Florida Comprehensive Assessment Test forpublic “this is a situation where publiv dollars are going to private institutions but we’rde not able to see if the monet is working for us,” said Kevin a legislative aide to Rep. Rick D-St. Petersburg, who voted against expanding the The program reduces the amount of corporate tax revenure received by the state but produces a netfiscakl benefit, a December report from the Floridwa Office of Program Policy Analysis and Government Accountabilitt said. “This occurs because state education spending for students who receive scholarships is reduced by more than the amounf ofrevenue lost,” the report said.
All Florida corporationzs pay a corporate incomee tax equalto 5.5 percent of the income they earn in the Under the tax credit program, companies can contributs to scholarship funding organizations that awarr aid to students. The corporations receive tax creditx equal to the amountr oftheir contributions, up to 75 percent of thei corporate taxes due. Before passage of the new law, many insurancde companies did not contribute to the program because they paid a tax on premiumx written in lieu of corporateincome taxes. The new law allowzs insurance companies to contributwe up to 75 percent of their insurance premiumn tax liability and receivea dollar-for-dollard credit.
Including insurance companies adds stability, sinced insurance industry profits are not closelyg tied tothe economy’s ups and said Greg Stewart, VP of finance at , a propertyh insurer in St. Petersburg. The state has a $118 millio cap on tax credits granted. As of February roughly $88.4 million in tax credits had been grantec for the currentfiscal year. In the 2007-088 school year, $73.5 million in scholarshipsd were awarded. Students come from families that qualify for the federal free or reduced lunch The average income for a family of fourin 2008-09 with a scholarship recipient was about $25,000, Step Up For Studentds said.
Scholarship recipients receivee upto $3,950 a year for private school tuitiojn and books, or up to $500 in transportation costws for an out-of-district public The scholarship often does not cover the entire amount of tuition at participating schoolzs and last year, scholarship families paid an averagew of $1,094 out of their own pockets, Step Up The scholarship program serverd 23,259 students in 988 schook statewide as of February. Statewide, 81.3 percenty of the private schools participating in the programm had religious affiliationsand 18.7 percent were non-religious institutions. In the Tampw Bay area, 192 schools were participating, serving 2,7534 students.
Among the Bay area schools with the largest number of scholarship recipientsx this year are in Tampa with 145 in Tampa with104 students, in Tampaz with 81 students, in Clearwater with 72 students and in St. Petersburgh with 44 students.
Saturday, October 23, 2010
Duke Energy shuffles executives' roles - Triangle Business Journal:
http://inetbrush.com/apple_accessories
Keith Trent, currently group executive andchied strategy, policy and regulatory has been named group executive and presidentf of Duke’s commercial businesses. The commercial businessese includes , which houses the company’s wind-generatiohn business; Midwest nonregulated generation; DukeNet, a telecommunications and DukeEnergy International, with operations in Latin America. Jim Turner, who is grou p executive, president and chief operating officerdfor U.S. franchised electric and gas, is assuming expanded responsibilitied withthat unit. Turner also will managew regulatory strategy and execution at the state andfederal levels.
And Dhiaw Jamil, currently group executive and chief nuclear has been named group executive and chiefdgeneration officer. Jamil, who will retainh the title of chiefnuclearf officer, will have accountability for nuclear, fossil and hydrok regulated generation. “These changes in leadership responsibilities are designeds toclarify accountabilities, streamline our decisiom making and strengthen relationships with our customers, regulatore and shareholders,” says Jim Rogers, chierf executive. “We’re able to make significant changes like thesed with confidence because of the strength and depth of ourleadershiop team.
” Duke (NYSE:DUK) is based in
Keith Trent, currently group executive andchied strategy, policy and regulatory has been named group executive and presidentf of Duke’s commercial businesses. The commercial businessese includes , which houses the company’s wind-generatiohn business; Midwest nonregulated generation; DukeNet, a telecommunications and DukeEnergy International, with operations in Latin America. Jim Turner, who is grou p executive, president and chief operating officerdfor U.S. franchised electric and gas, is assuming expanded responsibilitied withthat unit. Turner also will managew regulatory strategy and execution at the state andfederal levels.
And Dhiaw Jamil, currently group executive and chief nuclear has been named group executive and chiefdgeneration officer. Jamil, who will retainh the title of chiefnuclearf officer, will have accountability for nuclear, fossil and hydrok regulated generation. “These changes in leadership responsibilities are designeds toclarify accountabilities, streamline our decisiom making and strengthen relationships with our customers, regulatore and shareholders,” says Jim Rogers, chierf executive. “We’re able to make significant changes like thesed with confidence because of the strength and depth of ourleadershiop team.
” Duke (NYSE:DUK) is based in
Friday, October 22, 2010
All Circuit City stores to shutter permanently Sunday - St. Louis Business Journal:
http://www.shearwatercharters.com/free-online-dating-services-are-steps-to-start-relationships/
Circuit City has seven stores inthe St. Louis area in Hazelwood, South County, Fenton, Chesterfield and Saintf Peters, and in Fairview Heights, Ill. Going-out-of-business sales at all of the gian telectronics retailer’s 567 stores nationwide began in and were initially expected to last up to eightr weeks. The sales have continued daily since then in orderd to liquidateCircuit City’s $1.7 billiom in retail inventory. , SB LLC, Tiger Capitalp and Hudson are handlingthe liquidation.
When the finap Circuit City store closes at the end of businesswon Sunday, it will mark the demis of a company whose name was universally knowh and which grew to become the second-largest consume electronics retail chain in the U.S. Otherd major retailers that have closed in recent monthsinclude ’s, , and .
Circuit City has seven stores inthe St. Louis area in Hazelwood, South County, Fenton, Chesterfield and Saintf Peters, and in Fairview Heights, Ill. Going-out-of-business sales at all of the gian telectronics retailer’s 567 stores nationwide began in and were initially expected to last up to eightr weeks. The sales have continued daily since then in orderd to liquidateCircuit City’s $1.7 billiom in retail inventory. , SB LLC, Tiger Capitalp and Hudson are handlingthe liquidation.
When the finap Circuit City store closes at the end of businesswon Sunday, it will mark the demis of a company whose name was universally knowh and which grew to become the second-largest consume electronics retail chain in the U.S. Otherd major retailers that have closed in recent monthsinclude ’s, , and .
Wednesday, October 20, 2010
Nonprofits brace for budget emergency aftershocks, IOUs - Boston Business Journal:
http://archos-plugin.com/guestbook.php?p=7
While service providers don’ty yet know whether they’ll receive IOUs — or what the amounta will be — Sparky CEO of the in Sant Clara, is prepared for the worst. “We receivwe about $400,000 in state Harlan said. “We’re already accustomed to gettintg money from the state late last year, for it took until December before we finally got For this year and last year the center has reliec on a $150,000 line of credigt through to cover the gap, alongg with $500,000 out of its reserve The center’s operating budget is $10 million for fiscaol 2009-10.
The money that may be on hold from thestatde covers, in part, the center’s shelter and drop-in street outreach, and parenting classes. “Thr problem right now is that we don’t know for certaij how much they’re going to hold back,” said Harlan, who has been with the centere for26 years. “But this is by far the worsyt I’ve ever seen.” In anticipation of the state’s budget problems, 10 percen cuts have already been plannedfor foster-carr payments. Locally there are 300 to 400 kids infosteer care.
Foster care rated are the same acrossthe state, so familiese in high-cost areas such as the Bay Area get the same amount of compensation as people in more affordabls places. “We’re fronting half a million dollars she said. It’s a layered problem for the since in addition to state monety some comes from the federal Housinyg and UrbanDevelopment department. And Harlan said HUD is so slow it can take up to six month for payments tobe received. “We’rs hoping to get paid by July,” she said. “Nonprofits are just gettintg slammed.
” Harlan said the Bill Wilson Center has closed down two programz already and cut about 15 percent ofits staff, leavingv about 110 employees. These are real layoffs, she pointerd out — not attritiobn or open jobs — and “heartbreaking” to do. “Wde had to give one staff person a layoff noticre and a week later his wife was laid off fromanothetr nonprofit,” she said. in Campbell gets about $500,000 a year from the state for itsAIDS services. CFO Ira Holtzman said the agencty is large enough and financially stable enoughj that he would just book an IOU as accounts receivable and hope the money camethrough eventually.
The Health Trust’s budget for fiscal year 2010 is morethan $16 Holtzman said. Pam Brandin, executive director of and Visuall Impaired, which has officews in Palo Alto andSanta Cruz, said that even though her agencyt provides the kind of services that are especially at risk in Stated Controller John Chiang’s plan, the Vista Cente is relatively safe. “We receive moneg through Title 7 Chapter2 services,” Brandi explained. “Since much of our funding is federalmoney we’red hoping that it has to be released and passed on; the statw won’t be allowed to hold on to The Vista Center also has school contractes through special education funding.
“Last year when the state had similar budget issueswe didn’t receives any IOUs,” she “but that situation was resolved soonefr than this appears to be. The agenciesx that receive IOUsprobably won’t even know they’r coming until they submit their bills.” She’z also banking on Vista Center’s statuss as a preferred vendor with the “so we’ll be paid in advancre of other vendors — if in fact the stated is even writing checks.” Lisa Hendrickson, presidenr & CEO of Avenidas Rose Kleiner Senior Day Health Center in Palo Alto, is also cautiouslyh optimistic.
“The only funds we receive from the stater are MediCal payments for servicew provided at our adultdaycare center,” she said. “Ourt understanding is that those servicews are protected by the statre constitution as well asfederal law. We do receive funding indirectlgy throughthe county, but we don’t expect that to be Tom Kinoshita, public policy director of the , said people are on pins and “Everyone’s sitting around waiting, not knowing what’as going to happen.
But even with the most optimistidoutcome it’s still going to be very He pointed out that the deficit last year for Santaq Clara County was more than $270 million, and many of the cuts were made in programsd around health, mental health, drugs and alcohol and social And there’s no relief on the For 2011 the county is looking at a deficitr of about $250 million, he said.
While service providers don’ty yet know whether they’ll receive IOUs — or what the amounta will be — Sparky CEO of the in Sant Clara, is prepared for the worst. “We receivwe about $400,000 in state Harlan said. “We’re already accustomed to gettintg money from the state late last year, for it took until December before we finally got For this year and last year the center has reliec on a $150,000 line of credigt through to cover the gap, alongg with $500,000 out of its reserve The center’s operating budget is $10 million for fiscaol 2009-10.
The money that may be on hold from thestatde covers, in part, the center’s shelter and drop-in street outreach, and parenting classes. “Thr problem right now is that we don’t know for certaij how much they’re going to hold back,” said Harlan, who has been with the centere for26 years. “But this is by far the worsyt I’ve ever seen.” In anticipation of the state’s budget problems, 10 percen cuts have already been plannedfor foster-carr payments. Locally there are 300 to 400 kids infosteer care.
Foster care rated are the same acrossthe state, so familiese in high-cost areas such as the Bay Area get the same amount of compensation as people in more affordabls places. “We’re fronting half a million dollars she said. It’s a layered problem for the since in addition to state monety some comes from the federal Housinyg and UrbanDevelopment department. And Harlan said HUD is so slow it can take up to six month for payments tobe received. “We’rs hoping to get paid by July,” she said. “Nonprofits are just gettintg slammed.
” Harlan said the Bill Wilson Center has closed down two programz already and cut about 15 percent ofits staff, leavingv about 110 employees. These are real layoffs, she pointerd out — not attritiobn or open jobs — and “heartbreaking” to do. “Wde had to give one staff person a layoff noticre and a week later his wife was laid off fromanothetr nonprofit,” she said. in Campbell gets about $500,000 a year from the state for itsAIDS services. CFO Ira Holtzman said the agencty is large enough and financially stable enoughj that he would just book an IOU as accounts receivable and hope the money camethrough eventually.
The Health Trust’s budget for fiscal year 2010 is morethan $16 Holtzman said. Pam Brandin, executive director of and Visuall Impaired, which has officews in Palo Alto andSanta Cruz, said that even though her agencyt provides the kind of services that are especially at risk in Stated Controller John Chiang’s plan, the Vista Cente is relatively safe. “We receive moneg through Title 7 Chapter2 services,” Brandi explained. “Since much of our funding is federalmoney we’red hoping that it has to be released and passed on; the statw won’t be allowed to hold on to The Vista Center also has school contractes through special education funding.
“Last year when the state had similar budget issueswe didn’t receives any IOUs,” she “but that situation was resolved soonefr than this appears to be. The agenciesx that receive IOUsprobably won’t even know they’r coming until they submit their bills.” She’z also banking on Vista Center’s statuss as a preferred vendor with the “so we’ll be paid in advancre of other vendors — if in fact the stated is even writing checks.” Lisa Hendrickson, presidenr & CEO of Avenidas Rose Kleiner Senior Day Health Center in Palo Alto, is also cautiouslyh optimistic.
“The only funds we receive from the stater are MediCal payments for servicew provided at our adultdaycare center,” she said. “Ourt understanding is that those servicews are protected by the statre constitution as well asfederal law. We do receive funding indirectlgy throughthe county, but we don’t expect that to be Tom Kinoshita, public policy director of the , said people are on pins and “Everyone’s sitting around waiting, not knowing what’as going to happen.
But even with the most optimistidoutcome it’s still going to be very He pointed out that the deficit last year for Santaq Clara County was more than $270 million, and many of the cuts were made in programsd around health, mental health, drugs and alcohol and social And there’s no relief on the For 2011 the county is looking at a deficitr of about $250 million, he said.
Tuesday, October 19, 2010
Revenue rises for 2nd quarter in US states: report - Reuters
http://my-tuts.com/page/How-To-Get-A-Job-In-Housekeeping-.html
Revenue rises for 2nd quarter in US states: report Reuters "After record revenue declines in calendar 2009, and with spending trendlines still pointing upward, the fiscal conditions of the states remain quite ... US States Show Second Straight Quarter Of Tax Gains -Institute |
Sunday, October 17, 2010
Loan pushes energy projects in Boulder - Phoenix Business Journal:
adamovaichive.blogspot.com
There are 394 residentiao projects, totaling about $6.6 millioh in 15-year loans, now under way, said Ann Boulder County’s sustainability coordinator. Projects include installing such item s asnew furnaces, windows, insulation and rooftopp solar panels. Solar-power projects account for about $2.3 millio of that. About $12 milliob of the $40 million has been reservedf forcommercial projects, with applications expected to be accepted late this Local solar-installation companies say the loan program is one of the few brigh spots in the local economy.
“The best stimulus work that we’ve had is in said JoElyn Newcomb, head of business development for the Coloradoo armof , a solarf power installation company based in Bozeman, The company installed the solar system that powerws the scoreboard at Coorss Field. “Right now we have an eight-weekk wait to put a solar system up. Withoug [the loan program], it woulr have been four weeks. We are hiring peoplse for the summer. We’re definitely more but we’re hiring. Without [it] we woulr not be hiring.
” In November, Boulder Count y voters approved the new ClimateSmartLoan Program, by a margihn of 64 percent to 36 It’s modeled on a $1 milliojn loan program sponsored by the city of Berkeley, that’s restricted to rooftop solar powerf projects. Boulder County’s program has more money available and can be spent on a wider scopeof projects. Property owners take out a loan from the program tocompletwe projects; the payback is rolled into the property taxes, sticking with the building regardless of who owns it. It’es gained notice around the Livingstonsaid she’s given presentations to local governments in states such as California, Colorado and Texas.
She’d also presented it to the and the Clinton Interest rates on the initial loans rangefrom 5.2 percentt to 6.68 percent. Katie a consultant in the pharmaceutical industry, had consideredr putting solar panels on her Erie home for but thought it was too expensivdeto pursue. Then the ClimateSmart Loan Program “It seemed a good opportunity to take advantag ofthe [Solar*Rewards] rebate, the 30 percent federalo tax credit and the financing program,” Lapinws said. “It just pushed you to do Lapins’ 4.2-kilowatt solar power installation is scheduled to be installedin mid-July by Louisville-based Bella Energy Inc.
Lapins figures with all the rebatez andtax credits, the $30,000 system will end up costing her abou $10,000 to $12,000 — with the paymentas made through her property taxes. “Dependinvg on what energy costs do, my payback will be sevenj to 10 years tobreak even,” Lapin said. “I plan on staying in the hous that long, but even if I do sell it, it makesz the property more attractive [according to] the real estated agents I’ve talked One program drawback is thereare higher-than-expecte d upfront loan fees, meant to reassurs the credit market that the programm was a good investment, Livingston Program participants paid into a reserve fund and also pay the firstt year of interest, she said.
“Onw of the things we’ve certainly learneds is that when you’ree doing a bond offerinh of atype that’s never been offered anywhere in the country before, it results in extensive conversations with the Standard Poor’s rating agency,” Livingston said. “We needed some credit Some applicants balked at the highere fees and found cheaper credit such as through homeequity loans, Livingston said. “We’red excited about the $6.
6 million in direc projects, and we also know there’sw been additional money infused into the economy by peoplr who ended up using a home equity line of creditf or some other methodof financing,” Livingsto n said. “But the loan program started them downthe
There are 394 residentiao projects, totaling about $6.6 millioh in 15-year loans, now under way, said Ann Boulder County’s sustainability coordinator. Projects include installing such item s asnew furnaces, windows, insulation and rooftopp solar panels. Solar-power projects account for about $2.3 millio of that. About $12 milliob of the $40 million has been reservedf forcommercial projects, with applications expected to be accepted late this Local solar-installation companies say the loan program is one of the few brigh spots in the local economy.
“The best stimulus work that we’ve had is in said JoElyn Newcomb, head of business development for the Coloradoo armof , a solarf power installation company based in Bozeman, The company installed the solar system that powerws the scoreboard at Coorss Field. “Right now we have an eight-weekk wait to put a solar system up. Withoug [the loan program], it woulr have been four weeks. We are hiring peoplse for the summer. We’re definitely more but we’re hiring. Without [it] we woulr not be hiring.
” In November, Boulder Count y voters approved the new ClimateSmartLoan Program, by a margihn of 64 percent to 36 It’s modeled on a $1 milliojn loan program sponsored by the city of Berkeley, that’s restricted to rooftop solar powerf projects. Boulder County’s program has more money available and can be spent on a wider scopeof projects. Property owners take out a loan from the program tocompletwe projects; the payback is rolled into the property taxes, sticking with the building regardless of who owns it. It’es gained notice around the Livingstonsaid she’s given presentations to local governments in states such as California, Colorado and Texas.
She’d also presented it to the and the Clinton Interest rates on the initial loans rangefrom 5.2 percentt to 6.68 percent. Katie a consultant in the pharmaceutical industry, had consideredr putting solar panels on her Erie home for but thought it was too expensivdeto pursue. Then the ClimateSmart Loan Program “It seemed a good opportunity to take advantag ofthe [Solar*Rewards] rebate, the 30 percent federalo tax credit and the financing program,” Lapinws said. “It just pushed you to do Lapins’ 4.2-kilowatt solar power installation is scheduled to be installedin mid-July by Louisville-based Bella Energy Inc.
Lapins figures with all the rebatez andtax credits, the $30,000 system will end up costing her abou $10,000 to $12,000 — with the paymentas made through her property taxes. “Dependinvg on what energy costs do, my payback will be sevenj to 10 years tobreak even,” Lapin said. “I plan on staying in the hous that long, but even if I do sell it, it makesz the property more attractive [according to] the real estated agents I’ve talked One program drawback is thereare higher-than-expecte d upfront loan fees, meant to reassurs the credit market that the programm was a good investment, Livingston Program participants paid into a reserve fund and also pay the firstt year of interest, she said.
“Onw of the things we’ve certainly learneds is that when you’ree doing a bond offerinh of atype that’s never been offered anywhere in the country before, it results in extensive conversations with the Standard Poor’s rating agency,” Livingston said. “We needed some credit Some applicants balked at the highere fees and found cheaper credit such as through homeequity loans, Livingston said. “We’red excited about the $6.
6 million in direc projects, and we also know there’sw been additional money infused into the economy by peoplr who ended up using a home equity line of creditf or some other methodof financing,” Livingsto n said. “But the loan program started them downthe
Saturday, October 16, 2010
Pier 1 posts quarterly profit despite drop in sales - Pacific Business News (Honolulu):
proklofuxaanygez.blogspot.com
The profit for Fort Worth-basedr Pier 1 (NYSE: PIR) compares to a net loss of $33 or 37 cents per share, during the same perios last year. During the first Pier 1's sales fell to $281 down from $310 milliob a year ago. Pier 1 attributes this drop in salew to a reduction in the number of stores operating anda 7.5 percentt drop in same-store sales—or sales at stores open for 12 monthsz or more. Compared to last year, inventoriea are down by $91 million. The company also reduced its consolidated long-term debt by $79 millionj and posted a $48 million gain on the repurchase of Going forward, Pier 1 said it is negotiating rental reductions with landlordws across North America.
Pier 1 has now reachec agreements in principal to end leases for 22 storee and will be shuttinbg down an additionalfive locations. “Tk date, the company has achievexd approximately $9 million in rental savings for fiscal 2010 and expectds to close approximately 50 the company said ina statement.
The profit for Fort Worth-basedr Pier 1 (NYSE: PIR) compares to a net loss of $33 or 37 cents per share, during the same perios last year. During the first Pier 1's sales fell to $281 down from $310 milliob a year ago. Pier 1 attributes this drop in salew to a reduction in the number of stores operating anda 7.5 percentt drop in same-store sales—or sales at stores open for 12 monthsz or more. Compared to last year, inventoriea are down by $91 million. The company also reduced its consolidated long-term debt by $79 millionj and posted a $48 million gain on the repurchase of Going forward, Pier 1 said it is negotiating rental reductions with landlordws across North America.
Pier 1 has now reachec agreements in principal to end leases for 22 storee and will be shuttinbg down an additionalfive locations. “Tk date, the company has achievexd approximately $9 million in rental savings for fiscal 2010 and expectds to close approximately 50 the company said ina statement.
Thursday, October 14, 2010
Scottsdale Airport runway work to close operations in summer 2010 - Phoenix Business Journal:
aplecheevlgupy.blogspot.com
The $2 million project is being funded 95 percen by the FederalAviation 2.5 percent by the state of Arizona aviation unit with the remainderr coming from Scottsdale’s capital improvement money, said Annie DeChance, airport spokeswoman. The project will dig up the existingv runway and replace all the asphalt inthe airport’sw single 8,250 foot-long runway. Details, including a specificv timeline are stillbeing developed.
“We understand that this is going to be challenginv and that is why we are trying to give as much advancee notice as possible aboutthe closure, so people can reallyy prepare for this and get this on theit radar screen,” DeChance The project will take place withijn either July or August of with crews working around the clock. “This is takingv out the existing concrete basically down tothe dirt. The summerd time is when there is the least amount of traffic at the DeChance said.
The $2 million project is being funded 95 percen by the FederalAviation 2.5 percent by the state of Arizona aviation unit with the remainderr coming from Scottsdale’s capital improvement money, said Annie DeChance, airport spokeswoman. The project will dig up the existingv runway and replace all the asphalt inthe airport’sw single 8,250 foot-long runway. Details, including a specificv timeline are stillbeing developed.
“We understand that this is going to be challenginv and that is why we are trying to give as much advancee notice as possible aboutthe closure, so people can reallyy prepare for this and get this on theit radar screen,” DeChance The project will take place withijn either July or August of with crews working around the clock. “This is takingv out the existing concrete basically down tothe dirt. The summerd time is when there is the least amount of traffic at the DeChance said.
Wednesday, October 13, 2010
Gorillaz troops through Camden - Philadelphia Inquirer
ekaterinaiuvo.blogspot.com
Gorillaz troops through Camden Philadelphia Inquirer To this crowd, Albarn was not the erstwhile lead singer of Blur, the Britpop chart-toppers who never quite caught on Stateside, but the ringmaster of ... |
Monday, October 11, 2010
Verizon sponsoring event on sexting - Silicon Valley / San Jose Business Journal:
http://www.guitarrepairers.com/?p=298
The practice of “sexting” will be among the issueds talked about at the June 1 event to be held at the Greaterr New BedfordTechnical School. Hosted by Bristolk County SheriffThomas Hodgson, the seminat will be one of many events the New York-base telecommunications company (NYSE: VZ) will sponsor with Interne t safety nonprofit i-SAFE Inc. as a part of Cyber Safett Week. “We’re exploring what it meane to have a civil society in an online saidDonna Cupelo, Verizon New Englanr region president.
“That’s why we believr the first priority for providera is the personal safetyof Therefore, Verizon provides the best network toole available to ensure security and to inform people especially parents — how to make safer choices to protect their families’ privacy, guard against cybercrim and fight abuse.”
The practice of “sexting” will be among the issueds talked about at the June 1 event to be held at the Greaterr New BedfordTechnical School. Hosted by Bristolk County SheriffThomas Hodgson, the seminat will be one of many events the New York-base telecommunications company (NYSE: VZ) will sponsor with Interne t safety nonprofit i-SAFE Inc. as a part of Cyber Safett Week. “We’re exploring what it meane to have a civil society in an online saidDonna Cupelo, Verizon New Englanr region president.
“That’s why we believr the first priority for providera is the personal safetyof Therefore, Verizon provides the best network toole available to ensure security and to inform people especially parents — how to make safer choices to protect their families’ privacy, guard against cybercrim and fight abuse.”
Sunday, October 10, 2010
Friday, October 8, 2010
CBS Tries to Minimize Dem Problems By Cherry-Picking GOP Setbacks - NewsBusters (blog)
wilhelminadora4287.blogspot.com
CBS Tries to Minimize Dem Problems By Cherry-Picking GOP Setbacks NewsBusters (blog) In a report on Friday's CBS Early Show, senior White House correspondent Bill Plante noted that President Obama hitting the ... |
Thursday, October 7, 2010
Recovery report: Most small businesses don
http://korusconsulting.com/about/ceo/
The survey found that 90 percengt plan to cut business expenses and 23 percentg expect they will lay off employees durinbg the nextsix months. Only 26 percent expect sales to increase, half the percentage who expected saleds gains ayear ago. Nearly half expect profits will decreasee in thenear term. “These findings supporgt PNC’s forecast that the U.S. economy will continues to suffer into the second half ofthe year,” said PNC Chie Economist Stuart Hoffman. It will be 2010 beforee the economygets “reall traction from the various federa l policy stimulus initiatives,” Hoffmanm said. If the recession continuesw over the nextsix months, 43 perceng of U.S.
companies probably will make across-the-board budget That’s according to a new poll by the . The next most likelyh step would be to reduce stafffthrough attrition, while 40 percent of human resource executivesa said hiring freezes would be put into place. Freezint employee wages was next, followed by cuts in employee bonuses. Only 24 percenr expect layoffs. Layoffs “are becoming more of a last optioj that many business leaderswould take,” said SHRM President and CEO Laurencse O’Neil. “This finding underscores the seriousness of the recession as many companies find they cannot survive without some degreeof layoffs.
” More than 70 percengt of the CEO of America’s largesrt companies expect to reducde employment at their businesses over the next six months, according to a surveyt by the Business Roundtable. Two-thirde expect a decline in sales and capital The wants help fromthe public, includingv small businesses, on developing a plan to ensurwe that all Americans have access to The economic stimulus legislation directed the FCC to presen the plan to Congress by Feb. 17, 2010, a year afterf the bill was signedinto law.
The FCC is solicitiny comments on the best ways to ensure universaolbroadband access, strategies for making it affordable, evaluatinvg the progress of broadband grant programsz and how to use broadband to advance public policy Comments may be filed electronically at www.fcc.gov/cgb/ecfs or at The stimulus bill included $7.2 billion for grantzs and loans to increase broadband access in unservede and underserved areas. The programxs will be administered by the andthe ’s ruralk development program. The plans to spend $285 milliobn for 17,600 fuel-efficient vehicles, includintg 2,500 hybrid sedans, by June 1.
Money for these purchases, as well as $15 millionn for advanced technology vehicles suchas all-electric will come from funds appropriated in the economic stimulusx package. GSA will use existing contractswith , and for thesw orders. President Obama said these purchasesare “party of our commitment to the American auto industry” and he was “pleased” GSA “moved swiftlt to accelerate this purchase.” The distributed $197 million in economic stimulus funds to states and Indiam reservations for use in cleaning up underground storagw tank petroleum leaks.
These leaks couldd seep into soil and contaminatseground water, which is a major source of drinking water. EPA estimates aboutr 1,600 sites will be cleaned up as a resulr ofthe funding. “EPA is puttinhg people to work by serving our core mission of protectinh human health andthe environment,” said Administrator Lisa Jackson.
The survey found that 90 percengt plan to cut business expenses and 23 percentg expect they will lay off employees durinbg the nextsix months. Only 26 percent expect sales to increase, half the percentage who expected saleds gains ayear ago. Nearly half expect profits will decreasee in thenear term. “These findings supporgt PNC’s forecast that the U.S. economy will continues to suffer into the second half ofthe year,” said PNC Chie Economist Stuart Hoffman. It will be 2010 beforee the economygets “reall traction from the various federa l policy stimulus initiatives,” Hoffmanm said. If the recession continuesw over the nextsix months, 43 perceng of U.S.
companies probably will make across-the-board budget That’s according to a new poll by the . The next most likelyh step would be to reduce stafffthrough attrition, while 40 percent of human resource executivesa said hiring freezes would be put into place. Freezint employee wages was next, followed by cuts in employee bonuses. Only 24 percenr expect layoffs. Layoffs “are becoming more of a last optioj that many business leaderswould take,” said SHRM President and CEO Laurencse O’Neil. “This finding underscores the seriousness of the recession as many companies find they cannot survive without some degreeof layoffs.
” More than 70 percengt of the CEO of America’s largesrt companies expect to reducde employment at their businesses over the next six months, according to a surveyt by the Business Roundtable. Two-thirde expect a decline in sales and capital The wants help fromthe public, includingv small businesses, on developing a plan to ensurwe that all Americans have access to The economic stimulus legislation directed the FCC to presen the plan to Congress by Feb. 17, 2010, a year afterf the bill was signedinto law.
The FCC is solicitiny comments on the best ways to ensure universaolbroadband access, strategies for making it affordable, evaluatinvg the progress of broadband grant programsz and how to use broadband to advance public policy Comments may be filed electronically at www.fcc.gov/cgb/ecfs or at The stimulus bill included $7.2 billion for grantzs and loans to increase broadband access in unservede and underserved areas. The programxs will be administered by the andthe ’s ruralk development program. The plans to spend $285 milliobn for 17,600 fuel-efficient vehicles, includintg 2,500 hybrid sedans, by June 1.
Money for these purchases, as well as $15 millionn for advanced technology vehicles suchas all-electric will come from funds appropriated in the economic stimulusx package. GSA will use existing contractswith , and for thesw orders. President Obama said these purchasesare “party of our commitment to the American auto industry” and he was “pleased” GSA “moved swiftlt to accelerate this purchase.” The distributed $197 million in economic stimulus funds to states and Indiam reservations for use in cleaning up underground storagw tank petroleum leaks.
These leaks couldd seep into soil and contaminatseground water, which is a major source of drinking water. EPA estimates aboutr 1,600 sites will be cleaned up as a resulr ofthe funding. “EPA is puttinhg people to work by serving our core mission of protectinh human health andthe environment,” said Administrator Lisa Jackson.
Wednesday, October 6, 2010
Hundreds of jobs being cut as Aramark, YRC and others announce layoffs - Philadelphia Business Journal:
http://jiushuipacking.com/nurse-qualification/
Word of the job losses comes as a says the economu is weaker than it was in and that unemployment willhit 9.8 percent next up from an earlier projection of 9.1 percent. Earlier this week, it was learned that new weekly claims for unemploymentywere higher, and retaik spending for April turned out to be lower, than Companies notify the state of plant closings or significant job cuts unde r the federal Worker Adjustment and Retraining Notification (WARN) Act. Philadelphia-basedr Aramark said its cuts at thePhiladelphia university, effective July 12, will be permanenf and come at the end of a management-services contracrt at Penn.
• , a trucking will cut 113 jobs at itsPhiladelphias terminal, effect June 26; • Idearc Media LLC in Norristown will close its publishin g unit, cutting as many as 98 jobs, effective Oct. 31; • of the Americas, Cente r Valley, Lehigh County, will cut up to 119 employeezs in the diagnostics systems effective July 1 toJuly 14; Management consulting firm , whichb has filed for bankruptcy reorganization, will permanently close its offic e in Radnor, Pa., and end 13 jobs, effective June 5; Concord Steel, with a site in Essington, has cut production, resulting in the layoffg of 50 employees. The layoffs occurred between Februarg andMay 15.
Employees could be called back withinn a period of 60 days tosix • Philadelphia-based , a wholly owned subsidiary of is expected to sustain a limited impactf from a “mass layoff” slater for July 8. According to the state, as few as thre employees could be affected at thePhiladelphia site. Dow acquiredr Rohm and Haas in April.
Word of the job losses comes as a says the economu is weaker than it was in and that unemployment willhit 9.8 percent next up from an earlier projection of 9.1 percent. Earlier this week, it was learned that new weekly claims for unemploymentywere higher, and retaik spending for April turned out to be lower, than Companies notify the state of plant closings or significant job cuts unde r the federal Worker Adjustment and Retraining Notification (WARN) Act. Philadelphia-basedr Aramark said its cuts at thePhiladelphia university, effective July 12, will be permanenf and come at the end of a management-services contracrt at Penn.
• , a trucking will cut 113 jobs at itsPhiladelphias terminal, effect June 26; • Idearc Media LLC in Norristown will close its publishin g unit, cutting as many as 98 jobs, effective Oct. 31; • of the Americas, Cente r Valley, Lehigh County, will cut up to 119 employeezs in the diagnostics systems effective July 1 toJuly 14; Management consulting firm , whichb has filed for bankruptcy reorganization, will permanently close its offic e in Radnor, Pa., and end 13 jobs, effective June 5; Concord Steel, with a site in Essington, has cut production, resulting in the layoffg of 50 employees. The layoffs occurred between Februarg andMay 15.
Employees could be called back withinn a period of 60 days tosix • Philadelphia-based , a wholly owned subsidiary of is expected to sustain a limited impactf from a “mass layoff” slater for July 8. According to the state, as few as thre employees could be affected at thePhiladelphia site. Dow acquiredr Rohm and Haas in April.
Monday, October 4, 2010
Goldman Sachs downgrades J.C. Penney and Macy's - BusinessWeek
bentlyoupapa1810.blogspot.com
Goldman Sachs downgrades J.C. Penney and Macy's BusinessWeek THE STOCK: Shapira downgraded Macy's and JC Penney shares to "Neutral" from "Buy" and maintained Kohl's on the "Buy" list. Shares of Macy's fell 94 cents, ... Macy's, JC Penney Downgraded at Goldman Sachs (M, JCP) JC Penney (JCP) Downgrade Alert, Watch for 16.2% Technical Uptrend Reversal Cooper, Microsoft, Macy's, J.C. Penney: U.S. Equity Movers |
Sunday, October 3, 2010
More ties between al Qaeda plotter and 9/11 Hamburg cell revealed - Long War Journal
zvonkovaleoqim.blogspot.com
Long War Journal | More ties between al Qaeda plotter and 9/11 Hamburg cell revealed Long War Journal Some members of the Hamburg cell fled Germany shortly before the 9/11 attacks in order to avoid arrest after the fact. Today, Bahaji is both a senior ... |
Friday, October 1, 2010
Cutting dealers won
uzirukynurylew.blogspot.com
Both Chrysler and Generall Motors, which plans to close 1,100o dealerships by October 2010, contend they need to reducre the size of their dealer networks to becomes more competitive with Toyotaand Honda, which sell more cars in the U.S. with a lot fewert dealers. In a U.S. Bankruptcy Court filing, Chryslert argued that trimming the ranks of its dealers will boosty the profitability of the dealers that enabling them to invest in improvementds that will driveup sales. “Aftef a period of time, and substantiall improved marketingand investments, overall sales in the reducef network are anticipated to grow beyond currenyt sales levels within the existing Chrysler contended in the filing.
That’s highly unlikely, according to the Nationa l Association ofAutomobile Dealers. “There’s not an auto executivs I know ofthat doesn’t acknowledge that when a dealership closes, they lose market share,” said David Hyatt, NADA’e vice president of public affairs. Cuttingh costs was not a major factorin Chrysler’s decision. The automaker will save some administrative expensesw by having a smaller dealer networkkto oversee, but that’s about it. Dealers buy their cars befor the vehicles leavethe factory, pay for shipping, fron the costs of any rebates or warrantyt work, and purchase repair equipment.
Dealers provide “a robusr distribution network at virtuallygno cost” to automakers, Hyatt said. “We’re an asset, not a said Wade Walker, an auto dealef in Montpelier, Vt., who is scheduled to lose his Jeep franchisewJune 9. Walker and abouty 300 other Chrysler dealers are challengingthe automaker’s requesrt for a bankruptcy judge to terminate theifr dealership agreements and pre-empt state laws that would requir e the company to give dealers more time to wind down theirt businesses. Chrysler has been working to reduce its dealedr network forseveral years, and it contends that process needs to be acceleratedc because of its proposed alliance with Fiat.
Bankruptcy courtz routinely terminate contracts if doing so benefitzsthe debtor’s estate and is an exercise of soun business judgment, Chrysler said in its filing. But the Chrysle dealers contend that abruptly closingbdealerships doesn’t meet this threshold. “There is no evidence that by rejectingtdealership agreements, New Chrysler will save money to any materia degree or enhance its competitive positionb in the automobile industry,” the Chrysler National Dealef Council said in a court “To the contrary, closing dealersz narrows distribution and reducesw Chrysler’s sales and income as fewer dealers buy fewef cars and retail saled are lost to other brands.
” Chrysler’s bankruptcy judges is scheduled to hold a hearing on this issu June 3. That same day, the Senate Commerce Committee is scheduled to hold a hearing on the Chrysler and GMdealership closings. “These companies cannot be allowed to take taxpaye funds fora bailout, and then leavwe local dealers and theirt customers to fend for themselves with no real noticee and no real help,” said committe e Chairman John D. “Jay” Rockefeller IV, D-W.Va.
“We must ensuree that the auto dealers are treated equitablyu and have the opportunit to unwind their operations in a manner that will minimizde hardships to employees who lose their jobs and communities that areadverselyy impacted,” said Sen. Kay Bailey Hutchison, R-Texas. Hutchisonj was encouraged by a promise from Chrysler PresidentrJames Press, who told her the company would help the terminater dealers sell their vehicle and parts inventory. If this assistance fallzs short, Hutchison is prepared to push legislatio n to give the dealerships an extrwa 60 daysbefore closing.
auto dealers and members of Congress are lobbying Presidengt Barack Obama and his automotive task forc to reconsider the wisdom of closing so many dealershipszso quickly. The Obama administrationm rejectedthe automakers’ initiao restructuring plans and urged them to be more aggressive. “If should not be the role of government to forcethese small-business owners out of said Rep. Blaine Luetkemeyer, R-Mo., one of several House membera who sent a letter to task force chief Steven founder of theQuadrangle Group, a New York private equity “This decision will not fix the problemds of the auto manufacturing industry, yet it will cost our communities good jobs.
” Walker doesn’t think the auto task force “gets it.” “I think it’s becausde they’re all Wall Street peoplew -- they’re not Main Streeft people,” he said.
Both Chrysler and Generall Motors, which plans to close 1,100o dealerships by October 2010, contend they need to reducre the size of their dealer networks to becomes more competitive with Toyotaand Honda, which sell more cars in the U.S. with a lot fewert dealers. In a U.S. Bankruptcy Court filing, Chryslert argued that trimming the ranks of its dealers will boosty the profitability of the dealers that enabling them to invest in improvementds that will driveup sales. “Aftef a period of time, and substantiall improved marketingand investments, overall sales in the reducef network are anticipated to grow beyond currenyt sales levels within the existing Chrysler contended in the filing.
That’s highly unlikely, according to the Nationa l Association ofAutomobile Dealers. “There’s not an auto executivs I know ofthat doesn’t acknowledge that when a dealership closes, they lose market share,” said David Hyatt, NADA’e vice president of public affairs. Cuttingh costs was not a major factorin Chrysler’s decision. The automaker will save some administrative expensesw by having a smaller dealer networkkto oversee, but that’s about it. Dealers buy their cars befor the vehicles leavethe factory, pay for shipping, fron the costs of any rebates or warrantyt work, and purchase repair equipment.
Dealers provide “a robusr distribution network at virtuallygno cost” to automakers, Hyatt said. “We’re an asset, not a said Wade Walker, an auto dealef in Montpelier, Vt., who is scheduled to lose his Jeep franchisewJune 9. Walker and abouty 300 other Chrysler dealers are challengingthe automaker’s requesrt for a bankruptcy judge to terminate theifr dealership agreements and pre-empt state laws that would requir e the company to give dealers more time to wind down theirt businesses. Chrysler has been working to reduce its dealedr network forseveral years, and it contends that process needs to be acceleratedc because of its proposed alliance with Fiat.
Bankruptcy courtz routinely terminate contracts if doing so benefitzsthe debtor’s estate and is an exercise of soun business judgment, Chrysler said in its filing. But the Chrysle dealers contend that abruptly closingbdealerships doesn’t meet this threshold. “There is no evidence that by rejectingtdealership agreements, New Chrysler will save money to any materia degree or enhance its competitive positionb in the automobile industry,” the Chrysler National Dealef Council said in a court “To the contrary, closing dealersz narrows distribution and reducesw Chrysler’s sales and income as fewer dealers buy fewef cars and retail saled are lost to other brands.
” Chrysler’s bankruptcy judges is scheduled to hold a hearing on this issu June 3. That same day, the Senate Commerce Committee is scheduled to hold a hearing on the Chrysler and GMdealership closings. “These companies cannot be allowed to take taxpaye funds fora bailout, and then leavwe local dealers and theirt customers to fend for themselves with no real noticee and no real help,” said committe e Chairman John D. “Jay” Rockefeller IV, D-W.Va.
“We must ensuree that the auto dealers are treated equitablyu and have the opportunit to unwind their operations in a manner that will minimizde hardships to employees who lose their jobs and communities that areadverselyy impacted,” said Sen. Kay Bailey Hutchison, R-Texas. Hutchisonj was encouraged by a promise from Chrysler PresidentrJames Press, who told her the company would help the terminater dealers sell their vehicle and parts inventory. If this assistance fallzs short, Hutchison is prepared to push legislatio n to give the dealerships an extrwa 60 daysbefore closing.
auto dealers and members of Congress are lobbying Presidengt Barack Obama and his automotive task forc to reconsider the wisdom of closing so many dealershipszso quickly. The Obama administrationm rejectedthe automakers’ initiao restructuring plans and urged them to be more aggressive. “If should not be the role of government to forcethese small-business owners out of said Rep. Blaine Luetkemeyer, R-Mo., one of several House membera who sent a letter to task force chief Steven founder of theQuadrangle Group, a New York private equity “This decision will not fix the problemds of the auto manufacturing industry, yet it will cost our communities good jobs.
” Walker doesn’t think the auto task force “gets it.” “I think it’s becausde they’re all Wall Street peoplew -- they’re not Main Streeft people,” he said.
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