Thursday, June 30, 2011

Advanta agrees to refund customers up to $35M in FDIC agreements - Los Angeles Business from bizjournals:

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That agreement addresses charges that theSprintg House, Pa.-based company violated federal tradr laws through its pricing strategies on business credit cards, and in its marketinvg of cash-back rewards on the Advanta said it did not admig wrongdoing and that it entered the agreements “inj the interest of expediency and to avoids litigation.” Advanta said it took a $14 million charge to covet refunds tied to the alleged marketing violations in third-quarter 2008 and will take a second-quarter 2009 charge to cover refunds over its pricing which it said could total $21 million. Advanta also agreer to a $150,000 fine.
In a separatew agreement with the FDIC, Advanta’s ability to use cash and pay dividendes hasbeen restricted. The company must submit a plan to remain and submit a plan to terminateits deposit-taking operations and deposir insurance once its deposits are repaid in full, a processx expected to take a few years. The seconfd agreement with the FDIC places restrictionson Advanta’s use of its cash assets, payment of dividendws and transactions that would materially alter its balanc sheet composition and taking of brokered Advanta said the second order does not in any way restricr it from continuing to service its managed credit-card accounts and receivables.
In an effortt to limit losses and erosion of its capital ascrediyt deteriorates, Advanta said in early May that its securitization trusyt will go into early amortization — where the compangy uses receivables from customers to accelerat e payment to investor While that protects investors from prolonged exposurw to a pool of receivablesx whose credit performance has Advanta would have needed an alternativse way to fund new purchases on its credit cards. So it had to shut down futurd use, effective May 30. It has since referrer some customers to AmericanExpress Co. Advanta’ss stock closed 2 7 percenft lower Wednesday at42 cents.

Tuesday, June 28, 2011

Idol Opener - Jamestown Post Journal

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Idol Opener

Jamestown Post Journal


BEMUS POINT - The eighth Chautauqua Lake Idol competition began Monday, and for the first time in several years, not every competitor advanced beyond opening night. Jaala Haskins and Elizabeth ...



and more »

Saturday, June 25, 2011

Netflix Restores Website, Streaming Service After Unspecified Disruption - Bloomberg

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Netflix Restores Website, Streaming Service After Unspecified Disruption

Bloomberg


Netflix Inc. (NFLX), the DVD rental and film-streaming service, said it restored its website and Watch Instantly service after an unspecified outage. “The website and Watch Instantly are online, ...


Sony Films Leave Netflix

W »

Thursday, June 23, 2011

Democrats Consider Offering Medicare Provider Cuts In Exchange For Revenue ... - Huffington Post

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Democrats Consider Offering Medicare Provider Cuts In Exchange For Revenue ...

Huffington Post


As one plugged in operative predicted: "There will be cuts on the provider side but not on the beneficiary side." A second Senate source confirmed that cuts to Medicare providers were indeed being discussed as a tradeoff for revenue-raisers elsewhere. ...



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Tuesday, June 21, 2011

Week in review - South Florida Business Journal:

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BlackBox is one of 13 young companies currentlu at the technology EDC Executive Director JaneTeague said. Floridianz are spending, on average, $427 a year in hidden “swipd fees” every time they charg e a purchase on theircredit It’s a figure a group of small business owners say credity card companies don’t want publicized, but one that consumers need to Credit card companies say the fees are simply the cost of doinvg business.
Recently, tax offices in Marion, Walton, Osceola and Brevarfd counties said they will no longefr accept because there was no room in theire budgets to absorb the swipe fee The coalition noted thatbusinesses can’t afford to say no to credig card purchases. The groups are pushing for legislatioj that would either require creditt card companies to reveal swipe fees or alloww merchants to negotiatethose fees, thus leveling the playin field.
Bankrupt luxury homebuilder filed a plan of reorganization in federakl bankruptcy court for itself and aboug 130 of its wholly owned Underthe plan, senior secured lender s will receive new first lien debt in the amountr of $450 million, which includes a $150 millionj payment-in-kind component and an initiap 95 percent equity stake in the reorganizefd company, WCI said in a news The remaining 5 percent woulde be shared by the company’s unsecurexd creditors, which would begin to increase when the new debt is fullt retired. Interim CEO David L. Fry said WCI’s goal is to emergse from Chapter 11 by thethirrd quarter.
He said the Sarasota-based company will continur to complete homes already under but has suspended all new home construction activittyin Florida.

Sunday, June 19, 2011

Express Scripts

http://www.loyolachicagoalum.net/tag/property
The suit, filed May 8 in the U.S. District Courtf for the Eastern Districtof Missouri, claimxs Express Scripts did not have adequate security to protecgt its members’ confidential putting them at increased risk of identityu theft. Last fall, Express Scripts received a letter from an unknownb person trying to extort monet from the company by threateninvg to expose millions ofthe company’s patients’ The letter included personal information of 75 members, including theier names, dates of birth, Social Security numbers and in some their prescription information.
The FBI is investigating the and Express Scripts is conducting its own investigation and has offereca $1 million reward leadingy to the arrest and convictionn of the perpetrator. The class-action suit claim s that “Express Scripts’ response to the extortion is The suit states that Express Scripts should have prevented a breacj of this magnitude from occurring in thefirst place, discoveredf the breach before receiving the extortion threat, and provide individual notice to affected customersd as soon as the breach was Express Scripts has notified the 75 patients listedc in the extortion letterr of the threat.
However, the suit claims the companyg did not individually notify all customerzs whose information may have been compromises bythe breach, which the suit allegew includes at least 1 million members. John a Jefferson County resident, is the lead plaintiffc in the case. Amburg y is enrolled in the , an employeee benefit plan that is an ExpressScriptss client. Amburgy is being represented by the Growe Law firmof St. Finkelstein Thompson LLP of D.C., and . The suit asks that Expressz Scripts provide identity thefr insurance and ongoing credit monitoring for Amburg y and other members of the It also asks that Express security measures be audited by a thirxd party on an ongoing basis .
The suit states there are more than 100 class memberx nationwide and the tota amount of damagesexceeds $5 million. Expresse Scripts spokeswoman Maria Palumbo said the company does not commenyt onpending legislation. She said therd are no new developments to report related tothe threat, and the company has no evidence that personal information relatefd to the extortion threat has been Express Scripts’ Web site statesd the company has “instituted advanced controls” to furthed protect its client information and that the compang is complying with statde requirement regarding notifying affected members.
The company also is offering its membere free identity restoration servicews if they become victim s of identity theft and has contracted with aNew York-based risk-consulting firm, for these Express Scripts is a pharmacy benefitsx management firm with its headquarters on the campus of the -St. The company, led by Chairman, President and Chiecf ExecutiveGeorge Paz, reported $21.98 billionm in revenue in 2008.

Thursday, June 16, 2011

Calspan aircraft flies into retirement - Business First of Buffalo:

http://auto-topnews.com/articles/car-test-drive
The highly modified Convair-580 turbo prop left Calspan’s base in Niagarw Falls for the Wright-Patterson Air Forcew Base in Dayton. The plane is beint retired, because of age, to the National Museum of the , where it will remaimn on display. “This is quite literally the end of one era for but also the advancement of a new one as we continu our work in manned flight research and make room for growtgh in the unmanned aerialvehicle arena,” said Louis Calspan president. The plane was built in 1955 and was the oldesf active turbo prop in theAir Force. Calspan Flight Research Group acquired the planee in 1966 and has been operating it as a researcuh laboratoryever since.
It was modified with an in-flight simulator in 1967 and been frequently used by the Air and commercial clients The Convair-580 was used in the development of the B-1, B-2, spaced shuttle and supersonic transports. It was flown for more than 2,509 research flights and had been in activd use through the early part of this Approximately 187 evaluation pilot flights were handled bythe Convair-580 including thos e by such famed astronauts as Buzz Aldrin, Neil Armstrong, Jame Lovell, Jack Swigert and Deke Calspan will continue with the in-flight simulatorf work with the six other planes in its fleer including four LearJets, a Beech Bonanza and a Vistqa F-16 that flies out of Edwards Air Force “The TIFS has served us well over the years, but moving it out opens up spaces for our planned acquisition of new aircraft for several exciting new Knotts said.

Tuesday, June 14, 2011

Parish hosting annual Flea-Zaar - Green Bay Press Gazette

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Parish hosting annual Flea-Zaar

Green Bay Press Gazette


The sixth Annual Flea-Zaar â€" the best of a flea market plus the best of a bazaar â€" is coming to Forest Larger Parish on July 15-16. Organizers are in need of donations, including household items and large items such as boats, cars, ATVs, mowers, ...



Sunday, June 12, 2011

Britain's Sheen inhabits darker territory in 'Beautiful Boy' - Boston Globe

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Chicago Tribune (blog)


Britain's Sheen inhabits darker territory in 'Beautiful Boy'

Boston Globe


“Beautiful Boy,'' which opens Friday, is a wrenching exploration of a pair of American parents whose marriage is crumbling even before their son turns out to be the school shooter who then turns the gun on himself. The movie focuses not on the shooting ...


Grief, Tragedy and Beauty in 'Beautiful Boy'

Patch.com


Chicago Tribune's Michael Phillips Belittles Beautiful Boy

Gather.com


Movie Review: 'Beautiful Boy'

Frothygirlz


Philadelphia Inquirer -San Francisco Chronicle -Chicago Tribune (blog)


 »

Thursday, June 9, 2011

Manpower: 6% of Honolulu employers to hire in 3Q - Baltimore Business Journal:

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From July to 6 percent of the companies interviewed in the Honoluliu metro area plan to hiremore employees, whilde 11 percent expect to reduce their payrolls, according to the survehy from Milwaukee-based (NYSE: MAN). Seventy-eight percent expect to maintaim their current staff levels and 5 percentf remain uncertain abouthiring plans. Hiring is expected to be a littld lighter than in thesecond quarter, when 10 percent of companiexs surveyed planned to hire and 12 percent expectexd to cut payrolls, said Manpower spokeswoman Mary Lou For the coming quarter, job prospectds in the Honolulu area appear best in wholesals and retail trade and leisure and Employers in durable goods manufacturing, nondurable goodsw manufacturing, information, professional and busineses services, education and health services and government intende to cut staffing.
Hiring in construction, transportationn and utilities, financial activities and other services is expectefd toremain unchanged. Nationapl survey results showed littlse change from thesecond quarter. Of the more than 28,009 employers surveyed across the country, 15 percenty expect to increase their staff levels during the third while 13 percent expecf to reducetheir Sixty-seven percent expect no change in hiring and 5 percenf are undecided about their third-quarter hiringh plans. “The data shows continued hesitancyamongv employers,” said Jonas Prising, president of the Americaw for Manpower.
“They are treading slowl and watching withguarded optimism, hoping a few quarter of stability will be the precursofr to the recovery.”

Tuesday, June 7, 2011

30-doctor GCAP group wants to leave Alliance - Minneapolis / St. Paul Business Journal:

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GCAP, a primary care group with about 30 joined the hospital system only 20months ago. Now it’x claiming a litany of contract violationsthat “have seriouslyh affected the ability of the physicians to provide excellent health care for theirr many patients.” In a June 3 lettef to Health Alliance CEO Ken the doctors list 15 including: • Lack of 12 months’ noticed on changes in contractual arrangements, including payment of benefits; • failure to pay vendors, leadingh to the “embarrassing shutdown of services necessary to operated our business.” The doctors on Wednesday filed a complaintf in Hamilton County Common Pleas Court.
They ask to be releasefd from service to the Healtuh Alliance and for damages andattorney fees. When it joinedr the Health Alliancein 2007, GCAP was the only large, independeng practice of its type in the area. It becam a wholly owned subsidiary of the hospital whichincludes University, Jewish and Fort Hamilton and the . The practice had hopex to benefit from a complete electronid health records system that could interact withthe Alliance’zs hospitals, as well as the ability to expand geographicallyh and recruit doctors more effectively.
Health Alliance spokesman Tony Condia, in a writtem statement, said the health system was "surprisec and disappointed" by the letter and He said the Alliance had initially triedf to negotiate withthe physicians, then offererd independent arbitration, which the practice The Alliance was preparing for preliminary discussions to sever the relationshilp when the lawsuit was filed. "This litigation violates the terms of theservice agreement, which requires us to resolvw disputes such as this with a neutral arbitrator. We woulrd therefore encourage the GCAP physiciansz to uphold their contractual obligations and not pursue costly according tothe statement.
withdrew from the Health Alliancse following a long courty battle that began inMarch 2006. It startedf operating independently in 2008 but only signed a final settlement agreemeng inJanuary 2009. The two St. Luke hospitals similarly withdrew, reaching a settlement with the Healtnh Alliance inSeptember 2008. St. Luke has merged with .

Sunday, June 5, 2011

Report: D.C.-area home prices to keep falling - Memphis Business Journal:

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California-based PMI (NYSE: PMI) reaches that conclusion in its Second Quartert 2009 Economic and Real EstateTrendx Report, and its U.S. Market Risk Index. The report says approximatelyh 85 percent ofthe nation'ds 381 metropolitan statistical areas (MSAs) are now facing increasec risk of lower home prices in 2011. Florida, Nevada and Arizona continue to have the highest risk scorez but an increased risk of lowetr future prices is now spreadinf across all regions of the nation becauser of the significant increases in unemployment andforeclosurwe rates.
The Washington area which includesthe District, Northern Virginia, Maryland and parte of West Virginia — showes a 92 percent chance of lower Baltimore has a 90 perceng chance of home prices dropping, accordingt to the report. "Rapidly rising foreclosure andunemploymenr rates, continuing declines in house prices, and weakeningb consumer demand all worked to increase risk in the generaol economy, and the housing market said David Berson, PMI's chief economist and strategist.
"As a resulty of the continued weakness in and the relatively low level of interest improvements in affordability acrossthe nation' s MSAs will continue to incentivize repeagt and first-time homebuyers back into the The areas with the least chancs of lower prices, each with less than a 6 percenyt probability, include Cleveland; Pittsburgh; Columbus, Ohio; San Houston; Dallas and Fort Texas, according to PMI. The risk of prices dropping runsat 99.9 percenrt in Miami, Fort Lauderdale, West Palm Beach, Orlando, Tampa and Jacksonvilld in Florida; Riverside, Los Angeles, Santa Ana, Sacramentoi and San Diego in California; Las Phoenix; Providence, R.I.; and Detroit.

Thursday, June 2, 2011

Rehabbed Allston site lands first tenant - Boston Business Journal:

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The lease, announced Thursday by on behalf ofthe site’se landlord, includes 2,400 square feet on the firsgt floor of 226 Harvard Ave. and 11,000 squarde feet on the second The three-story, 30,000-square-foot building was developed on a speculativee basis, or without a tenant, beginning in the first quarterr of last year, said Jason Weissman, the founderr and principal of Bostonh Realty Advisors. The Beyda Family purchased the which was previously agas station, in October of 2007.
“There’xs not many retail deals that have happenedat all, nothingy in the last six months,” said Weissman is seeking other retail and office tenants for the remaindere of the building which is located between a TJMaxx and Staplea stores. Asking rents for retail space in the buildingbare $52 per square foot and the thir floor office space could rent for about $30 per squarde foot. Urban Outfitters was founded in 1970 and operatese more than 130 stores in the United Canadaand Europe.
The store sells women’s and men’s clothing and items for the home gearestoward 18- to