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Grace Solares and Elvis Cruz, who filed suit in filed an emergency motion Monday in an effortr to stop the sale of thebonds altogether. A copy of the temporaryh injunction motion provided by the plaintiffd alleges the county is exceeding its constitutional tax and spendingv powers by issuing bonds tied to the professionalsportsw tax/tourist development tax. As a result of the motion and to avoid a clour that could affect the interest rate onthe bonds, the countyy has pushed back the bond sale dates, Miami-Dad e spokeswoman Vicki Mallette said. However, the closingg date for all the bonda remainsJuly 14.
The county had already plannex to push back the bond closing date due to a requestr change on how some financing fees are paidto , whichg has provided the county with a letterr of credit for the project. Wachovia’sx letter of credit is for two years atapproximately $100 The Wachovia change would require an amendmenf to the bond ordinance that allowed the county to issuw Professional Sports Franchise Tax and Tourist Developmengt Tax bonds. County commissioners will get a chance to consider the change at a special meetingon Friday. A publidc hearing and second reading is scheduled forJune 30.
If countyg commissioners approve theWachovia change, the threr parties would have until mid-July to clos e on financing, instead of the end of June. Miami-Dade County and the parties also will be given untilpJuly 15, instead of July 1, to pull out of the The change would not impact the projected financinh expenditures the county commission alreadhy has reviewed, according to a statement from Countty Manager George Burgess. “Our confidence in the project and its underlyint funding plan hasnot changed,” he said in a statemenft on Monday.
On Friday, Burgess also wants to make “minor technical corrections” to the county deed that conveysd two parcels to the city of Miam i for thestadium garage. Burgess also is workingf with Miami to modify the deed on the stadium site to reflecgt the change inthe deal’s new terminationj date. The city of Miami commissionn will meet Thursday to consider the Wachovia In April, county commissioners approvedr issuing bonds totaling a maximum of $536 million toward constructiojn of the $640 million, 37,000-seat ballpark.
Wednesday, May 30, 2012
Tuesday, May 29, 2012
Flame virus 'much bigger than Stuxnet' - AFP
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AFP | Flame virus 'much bigger than Stuxnet' AFP By Stuart Williams (AFP) â€" 2 hours ago MOSCOW â€" A Russian computer firm has discovered a new computer virus with unprecedented destructive potential which could be used as a "cyberweapon" by the West and Israel against foes such as Iran. Cyberespionage 'Flame' malware bigger th an Stuxnet and Duqu |
Sunday, May 27, 2012
Local veterans organizations assess goals, membership in changing era of ... - The Jackson Citizen Patriot - MLive.com
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The Jackson Citizen Patriot - MLive.com | Local veterans organizations assess goals, membership in changing era of ... The Jackson Citizen Patriot - MLive.com 5-24-12 Rose City American Legion/VFW g » |
Saturday, May 26, 2012
Marriott opens in Union Square - San Francisco Business Times:
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After one year and more than $35 the former Crowne Plaza has re-emerged as . With the new brandd and revamped rooms, owner hopez to see revenue per available room increase over 50 percenrthis year. “It’s a completelyt new hotel,” said Stephen Schafer, vice president of strategidc planning and investor relations at Occupancy droppedduring construction, fallingb from 81 percent in 2007 (its final year as a Crowne Plaza) to 58 percent last year. Revenue per availabled room wasjust $84 in with an average daily room rate of $145. Now, as a Felcor expects occupancy in 2009 to reac 70 percent and room rates to average about $200.
Schafer anticipates next year will again post strontggrowth — particularly if the economy starts to Owing to the recession, San Francisco’s lodging industry is down aboutt 15 percent year over year, said Rick a hotel consultant. Nevertheless, Felcor is bullisy on the hotel’s long-term prospects. “Union Square is one of the best hote l markets in the country in terms of demandc generators and barriersto entry. Over the long this market will grow faster than the rest ofthe U.S.,” Schaferr said.
Felcor has owned the 400-roojm hotel with 10,000 square feet of meetinhg spacesince 1998, but seized on the opportunityu to convert to a more upscale Marriott During the renovation, it was temporarily callede Hotel 480, but Marriott was running operations and has been pre-sellint the hotel for most of the last “Opening up a hotel in this needless to say, has its Swig said. “But given that Marriottg has one ofthe world’s strongest brands, is pricex in a good value segment and with a Unioh Square location, it should do very well.
” Each Marriott from Ritz down to Courtyard, is strategicallty priced for its niche, so the hotel should not cannibalize each other’s business, Swig
After one year and more than $35 the former Crowne Plaza has re-emerged as . With the new brandd and revamped rooms, owner hopez to see revenue per available room increase over 50 percenrthis year. “It’s a completelyt new hotel,” said Stephen Schafer, vice president of strategidc planning and investor relations at Occupancy droppedduring construction, fallingb from 81 percent in 2007 (its final year as a Crowne Plaza) to 58 percent last year. Revenue per availabled room wasjust $84 in with an average daily room rate of $145. Now, as a Felcor expects occupancy in 2009 to reac 70 percent and room rates to average about $200.
Schafer anticipates next year will again post strontggrowth — particularly if the economy starts to Owing to the recession, San Francisco’s lodging industry is down aboutt 15 percent year over year, said Rick a hotel consultant. Nevertheless, Felcor is bullisy on the hotel’s long-term prospects. “Union Square is one of the best hote l markets in the country in terms of demandc generators and barriersto entry. Over the long this market will grow faster than the rest ofthe U.S.,” Schaferr said.
Felcor has owned the 400-roojm hotel with 10,000 square feet of meetinhg spacesince 1998, but seized on the opportunityu to convert to a more upscale Marriott During the renovation, it was temporarily callede Hotel 480, but Marriott was running operations and has been pre-sellint the hotel for most of the last “Opening up a hotel in this needless to say, has its Swig said. “But given that Marriottg has one ofthe world’s strongest brands, is pricex in a good value segment and with a Unioh Square location, it should do very well.
” Each Marriott from Ritz down to Courtyard, is strategicallty priced for its niche, so the hotel should not cannibalize each other’s business, Swig
Thursday, May 24, 2012
Plans for $200M racetrack, entertainment center near DIA announced - Denver Business Journal:
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The announcement comes after years of discussio about the possibility of a tracok opening inthe area, althougj there was no word Wednesday of a NASCAR commitmentf to the Aurora venture. . The facility announced Wednesday would be locatedr in theplanned 6,500-acre TransPort cargo-distribution development along Interstatd 70 several miles east of Pena Boulevard. Bill Schucj -- whose company, , is the developerr of TransPort -- is one of the principals involvecdin Wednesday's racetrack announcement. Schuck's plans call for the track complex to includea one-mile oval speedway and a four-mile road course with room for 65,0000 to 100,000 spectators.
The facility would accommodatd a variety ofracing types, including stock car, open wheel, midget, road racing, club and trackl rental, Kart racing and motorcycle racing. Schuck noted that the site is zoned forindustrial use, yet providesa easy access to spectators. The announcement said TransPort is negotiatinvgwith "national and regional tourismn attractions" and retailers to locate on the site alonyg with the racetrack "to create a true 'destination entertainment and tourism opportunity." "The Schuck Corp.
, and its long-timew financial partners, will lead the private investment efforr for the motor sports complex and will work with a variety of nationakl and local partners with motor sports experiencwe who are interested in establishing a nationalo racing venue in Colorado," the announcement said. "Imn addition, Schuck is working with Greg the Jefferson County real estate developerand investor, on a variethy of other development opportunities on the site," the announcementr added. Gerry Freeman, a spokesman for the developmenyt group, said NASCAR's involvement isn'ty pivotal to starting the project.
"There are a varietyh of other motor racing events that coulrd be held atthis facility," he said. Financingt will be a combination of private investorsxand debt, which is yet to be fully committed, although Freeman stressed that the project'zs organizers do not see financingg to be a problem. He said a numbedr of investors are waiting to jump on the projecr pending completion of a final economiccfeasibility study, which is expected in a few Schuck's group also will seek financial help from local and state government shares of the federal economic stimulusd program as well.
The Coloradlo Legislature this month passed a measures aimed at providing incentives for majoertourism projects, with the possibility of a racetrack mentioned by lawmakers in arguing for its The measure, Senate Bill 173, awaits Gov. Bill Ritter'xs signature. Sponsored by Sen. Jennifer D-Denver, SB 173 would allow local governments to work with the Coloradol Economic Development Commission to set up enterprisr zones that help to defray the infrastructure and construction costs of majodtourism projects. State sales tax revenues would help to fundthe projects. Lawmakerzs capped the measure's benefits at $50 U.S. Rep.
Ed Perlmutter, in responsw to Wednesday's announcement, issued a statement saying theprojecft "has the potential to brinv thousands of new jobs and milliond of dollars to Colorado at a critical time in our economicv recovery efforts. In additionh to construction jobs, there could be numerous economic development possibilities for the metro area and The project would be built in the 7thCongressionapl District, which Perlmutter represents. Lesli e Oliver, Perlmutter's communications said the congressman's statement should not be read as an endorsemengt of theSchuck group's proposal over a separate Colorado racetracki proposal by the Internationao Speedway Corp.
Schuck's group said they hope to breakl ground as early aslate 2010. The venture'zs announcement said TransPort has contracted withnoted Indiana-based racetrack architect Paxton Waters to design the racing with former Formula I/Indy car driverr Derek Daly on the desighn team. "In two years when the economy has recovered, this speedwa will be in a positionn to host all kinds of nationak racing events and reap the benefit of helpingg this sport penetrate the untapped RockyMountaib region," Waters said in a statement provide d by Schuck's group.
"This project will bring hundredsw of thousands of sports fans and tourists to Colorado and I have no doubt that the state will enjouy the same type of positive economic impacft this type of speedway has brought to other Backers cited an economic impact study by the Washington EconomicsGroup Inc. of the Kansaa Speedway in Kansas Kan., which it said has a $243 millioj positive economic impact onthe state.
The investmen group predicted a similar impact for theTransPort
The announcement comes after years of discussio about the possibility of a tracok opening inthe area, althougj there was no word Wednesday of a NASCAR commitmentf to the Aurora venture. . The facility announced Wednesday would be locatedr in theplanned 6,500-acre TransPort cargo-distribution development along Interstatd 70 several miles east of Pena Boulevard. Bill Schucj -- whose company, , is the developerr of TransPort -- is one of the principals involvecdin Wednesday's racetrack announcement. Schuck's plans call for the track complex to includea one-mile oval speedway and a four-mile road course with room for 65,0000 to 100,000 spectators.
The facility would accommodatd a variety ofracing types, including stock car, open wheel, midget, road racing, club and trackl rental, Kart racing and motorcycle racing. Schuck noted that the site is zoned forindustrial use, yet providesa easy access to spectators. The announcement said TransPort is negotiatinvgwith "national and regional tourismn attractions" and retailers to locate on the site alonyg with the racetrack "to create a true 'destination entertainment and tourism opportunity." "The Schuck Corp.
, and its long-timew financial partners, will lead the private investment efforr for the motor sports complex and will work with a variety of nationakl and local partners with motor sports experiencwe who are interested in establishing a nationalo racing venue in Colorado," the announcement said. "Imn addition, Schuck is working with Greg the Jefferson County real estate developerand investor, on a variethy of other development opportunities on the site," the announcementr added. Gerry Freeman, a spokesman for the developmenyt group, said NASCAR's involvement isn'ty pivotal to starting the project.
"There are a varietyh of other motor racing events that coulrd be held atthis facility," he said. Financingt will be a combination of private investorsxand debt, which is yet to be fully committed, although Freeman stressed that the project'zs organizers do not see financingg to be a problem. He said a numbedr of investors are waiting to jump on the projecr pending completion of a final economiccfeasibility study, which is expected in a few Schuck's group also will seek financial help from local and state government shares of the federal economic stimulusd program as well.
The Coloradlo Legislature this month passed a measures aimed at providing incentives for majoertourism projects, with the possibility of a racetrack mentioned by lawmakers in arguing for its The measure, Senate Bill 173, awaits Gov. Bill Ritter'xs signature. Sponsored by Sen. Jennifer D-Denver, SB 173 would allow local governments to work with the Coloradol Economic Development Commission to set up enterprisr zones that help to defray the infrastructure and construction costs of majodtourism projects. State sales tax revenues would help to fundthe projects. Lawmakerzs capped the measure's benefits at $50 U.S. Rep.
Ed Perlmutter, in responsw to Wednesday's announcement, issued a statement saying theprojecft "has the potential to brinv thousands of new jobs and milliond of dollars to Colorado at a critical time in our economicv recovery efforts. In additionh to construction jobs, there could be numerous economic development possibilities for the metro area and The project would be built in the 7thCongressionapl District, which Perlmutter represents. Lesli e Oliver, Perlmutter's communications said the congressman's statement should not be read as an endorsemengt of theSchuck group's proposal over a separate Colorado racetracki proposal by the Internationao Speedway Corp.
Schuck's group said they hope to breakl ground as early aslate 2010. The venture'zs announcement said TransPort has contracted withnoted Indiana-based racetrack architect Paxton Waters to design the racing with former Formula I/Indy car driverr Derek Daly on the desighn team. "In two years when the economy has recovered, this speedwa will be in a positionn to host all kinds of nationak racing events and reap the benefit of helpingg this sport penetrate the untapped RockyMountaib region," Waters said in a statement provide d by Schuck's group.
"This project will bring hundredsw of thousands of sports fans and tourists to Colorado and I have no doubt that the state will enjouy the same type of positive economic impacft this type of speedway has brought to other Backers cited an economic impact study by the Washington EconomicsGroup Inc. of the Kansaa Speedway in Kansas Kan., which it said has a $243 millioj positive economic impact onthe state.
The investmen group predicted a similar impact for theTransPort
Wednesday, May 23, 2012
Cooper proposes domicile move to Ireland - St. Louis Business Journal:
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The electrical products maker’s board has approvesd moving the company’s domicile to Ireland from Bermuda. “The decision to change Cooper’s place of incorporation was impactecd by the unprecedented global economic conditiones that have led to a dramatif reduction in global demand in virtuallyy all markets that we serve and was made to maintain Cooper’s global competitive position,” Kirk chairman and chief executive said Tuesday in a statement. Cooper CBE) said it had established tax residencyg in Ireland as ofDecember 2008. The which has its administrative headquartersin Houston, is asking shareholders to approvre the switch.
If approved, a new Irish entity known as Cooper Industrieas plc will replace CooperIndustries Ltd. as the parent Cooper’s move to change its place of incorporatiobn follows several other Houston companiesincluding , and , thougj Cooper is the first non-energy company to make the move. Another high-profilr local energy company, (NYSE: remains incorporated in Bermuda.
The electrical products maker’s board has approvesd moving the company’s domicile to Ireland from Bermuda. “The decision to change Cooper’s place of incorporation was impactecd by the unprecedented global economic conditiones that have led to a dramatif reduction in global demand in virtuallyy all markets that we serve and was made to maintain Cooper’s global competitive position,” Kirk chairman and chief executive said Tuesday in a statement. Cooper CBE) said it had established tax residencyg in Ireland as ofDecember 2008. The which has its administrative headquartersin Houston, is asking shareholders to approvre the switch.
If approved, a new Irish entity known as Cooper Industrieas plc will replace CooperIndustries Ltd. as the parent Cooper’s move to change its place of incorporatiobn follows several other Houston companiesincluding , and , thougj Cooper is the first non-energy company to make the move. Another high-profilr local energy company, (NYSE: remains incorporated in Bermuda.
Monday, May 21, 2012
Slain Metro bus driver identified - Los Angeles Times
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WeHo News | Slain Metro bus driver identified Los Angeles Times The Metro bus driver killed while on duty over the weekend was identified Monday as Alan Thomas, 51, a five-year veteran, an MTA spokesman said. Anthony Craig Chambers, 41, of Los Angeles, was the lone passenger on the bus when the shooting occurred ... Suspect and victim identified in fatal shooting of LA Metro bus driver Murdered Metro bus driver, gunman, identified Anthony Craig Chambers, 41, identified as suspect in MTA Bus Driver Murder |
Sunday, May 20, 2012
Colorado Hispanic business leaders to lobby Bennet, others on union bill - Memphis Business Journal:
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The delegation includes members of the Hispanic Contractors ofColoradk (HCC) and the Denver Hispanic Chamber of The group will be in Washington on Tuesdayh and Wednesday, joining small-business leaders from other states. The Colorado business leaders want totell D-Colo., and other lawmakers “why this bill woulxd really hurt them as they try to emergd from a tough economy,” said HCC spokesmah Sean Duffy. Duffy said the group arranged to meet with Bennet because he has not yet declaredd how he will vote on thelabof bill. “In these very difficult economic times, companies are struggling to retaimn the jobs they have,” Helga HCC executive director, said in a statement.
“We want to send a messag that we want to help jump start economi recoverybut [the labor bill] would make that challenge far, far greater.” The Employee Free Choice Act, also known as the “card bill, would allow workers to organize a unionn without a secret election, as now Instead, a local could be launched at a workplacd if at least half its workers sign an authorizationm card. Unions say the bill is needed to protecty worker rights inthe recession.
But in a statement, HCC said that enactmenft of thelaw “would unfairly tip the delicats business-labor climate in Colorado sharply away from and would result in further economic damage and job As part of a larger nationwide contingeny organized by the , the Coloradp group will meet with Sen. John R-S.D., and other legislators “to be determined,” Duffyh said. The business leaders also want to discuswother issues, including health care reform and the allocation of federa stimulus funds.
The delegation includes members of the Hispanic Contractors ofColoradk (HCC) and the Denver Hispanic Chamber of The group will be in Washington on Tuesdayh and Wednesday, joining small-business leaders from other states. The Colorado business leaders want totell D-Colo., and other lawmakers “why this bill woulxd really hurt them as they try to emergd from a tough economy,” said HCC spokesmah Sean Duffy. Duffy said the group arranged to meet with Bennet because he has not yet declaredd how he will vote on thelabof bill. “In these very difficult economic times, companies are struggling to retaimn the jobs they have,” Helga HCC executive director, said in a statement.
“We want to send a messag that we want to help jump start economi recoverybut [the labor bill] would make that challenge far, far greater.” The Employee Free Choice Act, also known as the “card bill, would allow workers to organize a unionn without a secret election, as now Instead, a local could be launched at a workplacd if at least half its workers sign an authorizationm card. Unions say the bill is needed to protecty worker rights inthe recession.
But in a statement, HCC said that enactmenft of thelaw “would unfairly tip the delicats business-labor climate in Colorado sharply away from and would result in further economic damage and job As part of a larger nationwide contingeny organized by the , the Coloradp group will meet with Sen. John R-S.D., and other legislators “to be determined,” Duffyh said. The business leaders also want to discuswother issues, including health care reform and the allocation of federa stimulus funds.
Friday, May 18, 2012
5 Steps to Boosting Word-of-Mouth Referrals - Destination CRM
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5 Steps to Boosting Word-of-Mouth Referrals Destination CRM By Andy Sernovitz When you ask the owners of most small businesses where they get their customers, the answer is usually "through word of mouth." But when you ask them how that happens, nobody really knows. As it turns out, great word of mouth isn't an ... |
Wednesday, May 16, 2012
Delinquent mortgages decline in Wisconsin - The Business Journal of Milwaukee:
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The delinquency rate excludes loans in the process of The percentage of loanss in Wisconsin on which foreclosure was started during the quartedr rose 12 basis points to 1 while the percentage of loans in the foreclosure process at the end of the quarter rose 29 basiw pointsto 3.11 percent. The rates are not seasonallg adjusted. Mortgage delinquency rates normally drop in the firsy quarter of the year after peakingat year-encd due to a variety of seasonal factors. The delinquency rate for prims adjustable rate mortgage loans decreased 75 basisw pointsto 8.49 percent and the rate for prime fixed rate mortgage loans decreased 32 basis points to 3.07 percent.
The delinquencyg rate for the subprimde ARM loans decreased 156 basix pointsto 25.25 percent, while the rate for subprimer fixed rate loans decreasee 136 basis points to 20.47 percent.
The delinquency rate excludes loans in the process of The percentage of loanss in Wisconsin on which foreclosure was started during the quartedr rose 12 basis points to 1 while the percentage of loans in the foreclosure process at the end of the quarter rose 29 basiw pointsto 3.11 percent. The rates are not seasonallg adjusted. Mortgage delinquency rates normally drop in the firsy quarter of the year after peakingat year-encd due to a variety of seasonal factors. The delinquency rate for prims adjustable rate mortgage loans decreased 75 basisw pointsto 8.49 percent and the rate for prime fixed rate mortgage loans decreased 32 basis points to 3.07 percent.
The delinquencyg rate for the subprimde ARM loans decreased 156 basix pointsto 25.25 percent, while the rate for subprimer fixed rate loans decreasee 136 basis points to 20.47 percent.
Tuesday, May 15, 2012
Report: D.C. area posts a strong economic performance - Phoenix Business Journal:
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The report ranked the 100 largest U.S. metro areas basee on employment, unemployment rates, wages, gross metropolitab product, housing prices and foreclosure rates in thefirstg quarter. D.C. ranked No. 13, whilr San Antonio, Texas, placed No. 1 and Detroi came in last at No. 100. “Alkl metropolitan areas are feeling the effects of this but the distress is notshareed equally,” said Alan research director of the metropolitan polict program at the D.C. institute and co-autho r of the report.
“While some areas of the countr y have experienced only a shallow and may be emerging from the recession people living in metrop areas that are now performing weakest economically shoul prepare themselves for a longrecovery period.” At the firsy quarter’s end, only 10 of the 100 metro areaz were starting to show signs of recovery, said the report, and said Texas was the only place that saw growtn in employment and output. Outputr increased in just a handful ofmetro areas, including Seattle; Austin, Texas; and Virginia Beach, Va.. The report also pointec out that metro areas with concentrations of jobs in certaijn sectors have resulted in fewer dramaticjob losses.
The Rankings: San Texas Austin, Texas Texas Baton Rouge, La. Tulsa, Okla. Omaha, Neb. El Texas Wichita, Kan. D.C. Albuquerque, N.M. Virginia Va. Harrisburg, Pa. Pittsburgh, Pa. New Haven, Rochester, N.Y.
The report ranked the 100 largest U.S. metro areas basee on employment, unemployment rates, wages, gross metropolitab product, housing prices and foreclosure rates in thefirstg quarter. D.C. ranked No. 13, whilr San Antonio, Texas, placed No. 1 and Detroi came in last at No. 100. “Alkl metropolitan areas are feeling the effects of this but the distress is notshareed equally,” said Alan research director of the metropolitan polict program at the D.C. institute and co-autho r of the report.
“While some areas of the countr y have experienced only a shallow and may be emerging from the recession people living in metrop areas that are now performing weakest economically shoul prepare themselves for a longrecovery period.” At the firsy quarter’s end, only 10 of the 100 metro areaz were starting to show signs of recovery, said the report, and said Texas was the only place that saw growtn in employment and output. Outputr increased in just a handful ofmetro areas, including Seattle; Austin, Texas; and Virginia Beach, Va.. The report also pointec out that metro areas with concentrations of jobs in certaijn sectors have resulted in fewer dramaticjob losses.
The Rankings: San Texas Austin, Texas Texas Baton Rouge, La. Tulsa, Okla. Omaha, Neb. El Texas Wichita, Kan. D.C. Albuquerque, N.M. Virginia Va. Harrisburg, Pa. Pittsburgh, Pa. New Haven, Rochester, N.Y.
Sunday, May 13, 2012
France's Total SA says it has stopped a major gas leak at a field in Nigeria ... - Washington Post
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FRANCE 24 | France's Total SA says it has stopped a major gas leak at a field in Nigeria ... Washington Post LAGOS, Nigeria â€" French oil company Total SA said Sunday it stopped a natural gas leak at one of its plants in Nigeria's crude-rich southern delta after 54 days, an emergency that forced the firm to shut down the field and evacuate the area. Total SA: Gas leak fixed after 54 days Total says Nigeria gas leak to stop in "few days" |
Saturday, May 12, 2012
Kan. budget negotiation snags include school funds - BusinessWeek
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Kan. budget negotiation snags include school funds BusinessWeek By JOHN MILBURN Kansas lawmakers were trying to work out an agreement Thursday on a final version of next fiscal year's $14 billion state budget, knowing that approval of the spending plan was key to enabling the legislative session to end on time ... |
Thursday, May 10, 2012
Flow International swings to Q4 loss - Puget Sound Business Journal (Seattle):
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million, or a loss of 12 cent s a share, for its fiscal 2009 fourtbh quarter endedApril 30, 2009, compare d with net income of $13.3 million, or 35 cents a in the same quarter a year ago. The Kent, Wash.-based maked of industrial waterjet machines for cutting andcleaninbg (NASDAQ: FLOW) said the Q4 net loss includess a $3.8 million pre-tax charge related to its now-cancelex plans to acquire , and $1.4 milliohn related to “the write off of deferredd financing costs associated with the amendment to the Company'ss senior credit facility, centralizing its manufacturing operations, and severancse related to cost reductions.
” Flow’s consolidatecd revenues in the fourth quarter were $43.7 million, down from $63. 6 million a year ago, the company "We continue to see the impact of the globa economic slowdown in portions of our said Flow CEOCharley Brown. "We feel that roughly two-thirds of our fourthy quarter revenue stream has stabilizedwhilre one-third remains more volatile during thesee difficult economic times. Meanwhile, we continue to builds our new distribution channepl having added 20 distributors in 17 countries over the past six Brown said.
million, or a loss of 12 cent s a share, for its fiscal 2009 fourtbh quarter endedApril 30, 2009, compare d with net income of $13.3 million, or 35 cents a in the same quarter a year ago. The Kent, Wash.-based maked of industrial waterjet machines for cutting andcleaninbg (NASDAQ: FLOW) said the Q4 net loss includess a $3.8 million pre-tax charge related to its now-cancelex plans to acquire , and $1.4 milliohn related to “the write off of deferredd financing costs associated with the amendment to the Company'ss senior credit facility, centralizing its manufacturing operations, and severancse related to cost reductions.
” Flow’s consolidatecd revenues in the fourth quarter were $43.7 million, down from $63. 6 million a year ago, the company "We continue to see the impact of the globa economic slowdown in portions of our said Flow CEOCharley Brown. "We feel that roughly two-thirds of our fourthy quarter revenue stream has stabilizedwhilre one-third remains more volatile during thesee difficult economic times. Meanwhile, we continue to builds our new distribution channepl having added 20 distributors in 17 countries over the past six Brown said.
Tuesday, May 8, 2012
Brooks Laich's block attempt proved to be tipping point in overtime loss - Washington Times
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Washington Times | Brooks Laich's block attempt proved to be tipping point in overtime loss Washington Times By Stephen Whyno New York Rangers center Artem Anisimov, right, celebrates after Marc Staal's overtime goal slid past Washington Capitals goalie Braden Holtby to give the Rangers a 3-2 victory over in Game 5 of the NHL hockey Stanley Cup Eastern ... New York Rangers: 10 Most Important Factors in Stopping the Capitals |
Monday, May 7, 2012
Seib brothers eye Houston-area bank buy - Dallas Business Journal:
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Brothers Jonathan C. Seib, 30, and Todd A. Seib, 29, have made a proposao to pay $3.2 million for That holding company owns BrazosNational Bank, a one-banik operation in the Brazoria Count y town of Richwood, populatiojn 3,338. The Federal Reserved System, which oversees bank holding company granted the deal a preliminary approvalMarch 29. The buyee and seller have not notified the regulators whethere the dealhas closed. Jonathanm and Todd Seib did not return repeated telephone Representatives of Brazos National and its current ownership did not returntelephone inquiries.
The Seib both of whom live in Oak were part of groups that tried to start an institutioh called Sunbelt Bank in South Arlingtonmin 2005, and one called Maverick Bank in the Carrollton-Lewisvillre area last year. Neither of those efforts led to a new The Maverick group had planned to get started last year and extendesits capital-raising deadline until April 30. The Seib brotherzs also were investors and directores of TexasLeadership Bank, while it was in its organization phase. When the bank in Roysee City opened for business in October they were not direct investors and not onthe bank'ds board.
While they are interested in investin gin banks, the Seibs haven't worked directly in the Todd Seib has worked in the mortgage business with , accordinbg to his biography in securities Jonathan Seib is senior vice president of a chain of Alzheimer care homesz based in Dallas. Avalon was foundedc by Richard Seib, Jonathan and Todd'ws father. The bank the brothers are aiming to BrazosNational Bank, has one office in Brazoria County and $11 million in That gives it a half-percent share of that county's deposift market. The bank had about $14 million in totalk assets at the end of 2006 andproduced $231,000 in net incomee for the full year. The Seibs and Plano investoer James A.
Priebe have offered to pay $32.776 a share for the Gulfporf Bancsharesholding company. Priebe had invested in Sunbely and Maverickas well. The majorithy shareholder is the estate ofthe bank'zs founder, Gary L. McConnell, who died in April 2005. His Laura McConnell of Los Angeles, has served as holding companu president sinceMay 2005. The Seibs and Prieber plan to buy 99.89% of Gulfport Bancshares of Delaware Inc. The brotherd will commit $1.4 million and Priebe, 40, will pay according to an application filed with the FederalReserver Bank. In the application, the buyers state that they have no plan s to change the strategic direction ofthe bank, its holdin company or management team.
The fraction of the holdint company that the Seibs andPriebse aren't buying will remain in the hands of its As part of the purchased deal, the Seibs and Priebe state they will offer three-year employment contracts to the banks executives with a bonus paid for stayingt to the end of that term. The bank has six While this would bethe Seibs' and Priebe'se first investment in a Texas bank, they are already investingv in banks in Georgia and Florida. The three are investorss in of Dawsonville, Ga., a town 58 miles north of Its bank, First Citizens Bank of Georgia, openedr for business March 5 this year.
Jonathan Todd Seib and James Priebe are directors of theholdin company, but not on the bank's board. The other nine compang directors also are on theoperating bank'sw board. The three are also investors in a bank plannedx forthe Orlando, Fla., suburb of Casselberry. Like the Georgi a operation, the three are on the boar d of , the holdingh company, but not on the boards of the operating bank, Community Bank of Central Florida.
Brothers Jonathan C. Seib, 30, and Todd A. Seib, 29, have made a proposao to pay $3.2 million for That holding company owns BrazosNational Bank, a one-banik operation in the Brazoria Count y town of Richwood, populatiojn 3,338. The Federal Reserved System, which oversees bank holding company granted the deal a preliminary approvalMarch 29. The buyee and seller have not notified the regulators whethere the dealhas closed. Jonathanm and Todd Seib did not return repeated telephone Representatives of Brazos National and its current ownership did not returntelephone inquiries.
The Seib both of whom live in Oak were part of groups that tried to start an institutioh called Sunbelt Bank in South Arlingtonmin 2005, and one called Maverick Bank in the Carrollton-Lewisvillre area last year. Neither of those efforts led to a new The Maverick group had planned to get started last year and extendesits capital-raising deadline until April 30. The Seib brotherzs also were investors and directores of TexasLeadership Bank, while it was in its organization phase. When the bank in Roysee City opened for business in October they were not direct investors and not onthe bank'ds board.
While they are interested in investin gin banks, the Seibs haven't worked directly in the Todd Seib has worked in the mortgage business with , accordinbg to his biography in securities Jonathan Seib is senior vice president of a chain of Alzheimer care homesz based in Dallas. Avalon was foundedc by Richard Seib, Jonathan and Todd'ws father. The bank the brothers are aiming to BrazosNational Bank, has one office in Brazoria County and $11 million in That gives it a half-percent share of that county's deposift market. The bank had about $14 million in totalk assets at the end of 2006 andproduced $231,000 in net incomee for the full year. The Seibs and Plano investoer James A.
Priebe have offered to pay $32.776 a share for the Gulfporf Bancsharesholding company. Priebe had invested in Sunbely and Maverickas well. The majorithy shareholder is the estate ofthe bank'zs founder, Gary L. McConnell, who died in April 2005. His Laura McConnell of Los Angeles, has served as holding companu president sinceMay 2005. The Seibs and Prieber plan to buy 99.89% of Gulfport Bancshares of Delaware Inc. The brotherd will commit $1.4 million and Priebe, 40, will pay according to an application filed with the FederalReserver Bank. In the application, the buyers state that they have no plan s to change the strategic direction ofthe bank, its holdin company or management team.
The fraction of the holdint company that the Seibs andPriebse aren't buying will remain in the hands of its As part of the purchased deal, the Seibs and Priebe state they will offer three-year employment contracts to the banks executives with a bonus paid for stayingt to the end of that term. The bank has six While this would bethe Seibs' and Priebe'se first investment in a Texas bank, they are already investingv in banks in Georgia and Florida. The three are investorss in of Dawsonville, Ga., a town 58 miles north of Its bank, First Citizens Bank of Georgia, openedr for business March 5 this year.
Jonathan Todd Seib and James Priebe are directors of theholdin company, but not on the bank's board. The other nine compang directors also are on theoperating bank'sw board. The three are also investors in a bank plannedx forthe Orlando, Fla., suburb of Casselberry. Like the Georgi a operation, the three are on the boar d of , the holdingh company, but not on the boards of the operating bank, Community Bank of Central Florida.
Saturday, May 5, 2012
Small-business index gains in April - Dayton Business Journal:
coras-newport.blogspot.com
points in April, with a majorithy of business owners expecting the economy to improve over the next three to six The percentage of small business owners who are optimistic about the economy jumpedc 24 points inthe ' monthlyy survey. Sales expectations, which hit a recordf low in March, improved by 20 points. Scored for six other indicatorsalso increased, enabling the indezx to rise to 86.8 — still far belo w 100, the level that reflects small business conditions in 1986.
NFIB Chie Economist William Dunkelbergcautioned “thse improved numbers were still very so “no immediate turnabout” is likely for the About 30 percent of small businesses reduced employmentg over the past three months, compared with 4 percenr that increased the size of their work “It appears that owners are not throughg with their labor-based cost cutting,” Dunkelberg said. A net 14 percent of small-businesxs owners reported that loans were hardetto get, the highest reading since the recession of the earlgy 1980s.
points in April, with a majorithy of business owners expecting the economy to improve over the next three to six The percentage of small business owners who are optimistic about the economy jumpedc 24 points inthe ' monthlyy survey. Sales expectations, which hit a recordf low in March, improved by 20 points. Scored for six other indicatorsalso increased, enabling the indezx to rise to 86.8 — still far belo w 100, the level that reflects small business conditions in 1986.
NFIB Chie Economist William Dunkelbergcautioned “thse improved numbers were still very so “no immediate turnabout” is likely for the About 30 percent of small businesses reduced employmentg over the past three months, compared with 4 percenr that increased the size of their work “It appears that owners are not throughg with their labor-based cost cutting,” Dunkelberg said. A net 14 percent of small-businesxs owners reported that loans were hardetto get, the highest reading since the recession of the earlgy 1980s.
Thursday, May 3, 2012
Los Rios Community College District gets jump on $114M in projects - Sacramento Business Journal:
vypybiza.wordpress.com
million in construction projects to create jobs and pump money into the local economysoonef — and to save some of its own money along the way. The four-campus college system has decided to push upa half-dozebn projects that are primarily funder by local bonds, including constructionm of and upgrades to buildings, athletic fields, a parking garagr and a stadium. Los Rios officials estimate the work willgenerate 1,025 jobs.
By starting these projectd sooner thanoriginally planned, the Sacramento-based college districtt will take advantage of cheaper bids beiny made during the recession, and will be able to provider facilities and amenities more quickly to its fast-growing studenft population. The district has more than 88,000 students, whichj is 8,000 more than it enrolleds a year ago. These fast-tracked projects, plus $116 milliohn worth of projects under way or aboutto start, together represent the most construction undertaken at once sinced Los Rios was established in the mid 1960s, districrt chancellor Brice Harris said.
“Every bit of construction and activituy help right now to get people back to especially in the construction industry that has been so hard hit with job saidMatt Mahood, presidenyt and chief executive officer of the . He also sits on the distric t Citizens’ Bond Oversight Committee, which overseesa Los Rios’ bond-funded projects and other major In theshort term, fast-tracking major construction projectse creates jobs, Mahood said. In the long these projects will help the district betterr meet the needs of employers by getting peopled trained and readyfor work, he added.
I think it is critical to get these projects into the saidBruce Starkweather, chairman of architectural firm , which has workedd on many Los Rios project over the years. He also served as the volunteer chairma n forlast year’s campaign for Measurre M, which is providing the bond fundintg for the projects. This is a greaty time, Starkweather said, for Los Rios to get the best value to makethe district’a dollars go further. “We absolutely believe we’re going to get a bang for the taxpayere dollar for moving theseprojects up,” Harris said, adding that the district couldf enjoy discounts of 10 percentf to 30 percent.
The projects on the fast-track list includre developing anew $16.6 million building for the architecture/construction managemenrt program at , constructin g a $33.4 million parking garag e at , fixing up Hughes Stadium at at a cost of $12.8 million, and creating athletic fieldsz at for $19.6 million. Constructionh was going to start between 2011and 2013, but now will staryt as soon as next Over the next year, the distric would spend about $10 million on desig and consulting services, and that work woulde generate perhaps 50 jobs, said Jon deputy chancellor. The $114.
3 million will be speng over several years, and the estimatede 1,000 jobs are what woulsd be created over the courswe ofthe projects. Los Rios, a two-year public can choose the timing of thesed projects because the district dependsw primarily on bond funding approved by voters last Theprojects don’t qualif for money from the state, which doesn’t fund construction of communitg college bookstores, cafeterias, parking structures or athletivc fields, spokeswoman Susie Williams said.
The projects also are easie r tofast track, Harris said, because most such as the parking structure and stadium upgrade — don’t require a lot of planning or inpuyt from faculty for their academic Measure M, approved by district voterds in November, will provided $475 million to go toward fast-track projects and The bond money was targeted for completion of centersa in Davis, West Rancho Cordova, Elk Grove and Natomas, as well as for structure improved technology and new classrooms. The districyt will issue the Measure M bondx in probably four series overa decade, Sharpe Los Rios will sell the firstg series, totaling about $100 million, in June or Harris said.
Los Rios also is stilk spending money from a 2002bond
million in construction projects to create jobs and pump money into the local economysoonef — and to save some of its own money along the way. The four-campus college system has decided to push upa half-dozebn projects that are primarily funder by local bonds, including constructionm of and upgrades to buildings, athletic fields, a parking garagr and a stadium. Los Rios officials estimate the work willgenerate 1,025 jobs.
By starting these projectd sooner thanoriginally planned, the Sacramento-based college districtt will take advantage of cheaper bids beiny made during the recession, and will be able to provider facilities and amenities more quickly to its fast-growing studenft population. The district has more than 88,000 students, whichj is 8,000 more than it enrolleds a year ago. These fast-tracked projects, plus $116 milliohn worth of projects under way or aboutto start, together represent the most construction undertaken at once sinced Los Rios was established in the mid 1960s, districrt chancellor Brice Harris said.
“Every bit of construction and activituy help right now to get people back to especially in the construction industry that has been so hard hit with job saidMatt Mahood, presidenyt and chief executive officer of the . He also sits on the distric t Citizens’ Bond Oversight Committee, which overseesa Los Rios’ bond-funded projects and other major In theshort term, fast-tracking major construction projectse creates jobs, Mahood said. In the long these projects will help the district betterr meet the needs of employers by getting peopled trained and readyfor work, he added.
I think it is critical to get these projects into the saidBruce Starkweather, chairman of architectural firm , which has workedd on many Los Rios project over the years. He also served as the volunteer chairma n forlast year’s campaign for Measurre M, which is providing the bond fundintg for the projects. This is a greaty time, Starkweather said, for Los Rios to get the best value to makethe district’a dollars go further. “We absolutely believe we’re going to get a bang for the taxpayere dollar for moving theseprojects up,” Harris said, adding that the district couldf enjoy discounts of 10 percentf to 30 percent.
The projects on the fast-track list includre developing anew $16.6 million building for the architecture/construction managemenrt program at , constructin g a $33.4 million parking garag e at , fixing up Hughes Stadium at at a cost of $12.8 million, and creating athletic fieldsz at for $19.6 million. Constructionh was going to start between 2011and 2013, but now will staryt as soon as next Over the next year, the distric would spend about $10 million on desig and consulting services, and that work woulde generate perhaps 50 jobs, said Jon deputy chancellor. The $114.
3 million will be speng over several years, and the estimatede 1,000 jobs are what woulsd be created over the courswe ofthe projects. Los Rios, a two-year public can choose the timing of thesed projects because the district dependsw primarily on bond funding approved by voters last Theprojects don’t qualif for money from the state, which doesn’t fund construction of communitg college bookstores, cafeterias, parking structures or athletivc fields, spokeswoman Susie Williams said.
The projects also are easie r tofast track, Harris said, because most such as the parking structure and stadium upgrade — don’t require a lot of planning or inpuyt from faculty for their academic Measure M, approved by district voterds in November, will provided $475 million to go toward fast-track projects and The bond money was targeted for completion of centersa in Davis, West Rancho Cordova, Elk Grove and Natomas, as well as for structure improved technology and new classrooms. The districyt will issue the Measure M bondx in probably four series overa decade, Sharpe Los Rios will sell the firstg series, totaling about $100 million, in June or Harris said.
Los Rios also is stilk spending money from a 2002bond
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