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If commissioners approve the change, the three parties would have untilo early July to closron financing, instead of the end of June. Miami-Dade Countyg and the parties also will be given untiJuly 15, instead of July 1, to pull out of the The change that financing institutiomn is requesting would affect the way the letter-of-credir fees are paid. But, it would not impact the projected financing expenditures the countty commission alreadyhas reviewed, according to a statement from County Manager Georg e Burgess. The change would require an amendmeng to the bond ordinance that allowed the count to issue Professional Sportds Franchise Tax and Tourist DevelopmentTax bonds.
Countyt commissioners will get a chance to consider the changes at a specialp meeting onJune 19. A public hearing and second reading is scheduled forJune 30. Burgeszs also is working with Miami to modifuy the deed on the stadium site to reflect the chang inthe deal’s new termination date. “Oufr confidence in the project and its underlyingv funding plan hasnot changed,” he said in the statement. Burgesz also wants to make “minor technicalk corrections” to the county deed that conveys two parcelss to the city of Miami for thestadium garage.
In April, county commissioners approve d issuing bonds totaling a maximumof $536 million toward construction of the $640 million, 37,000-seat
Wednesday, August 29, 2012
Tuesday, August 28, 2012
BarePlus by Bare Necessities Launches Its First Digital Catalog - Sacramento Bee
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BarePlus by Bare Necessities Launches Its First Digital Catalog Sacramento Bee EDISON, N.J., Aug. 27, 2012 -- /PRNewswire/ -- Bare Necessities is certainly living up to its promise of dominating the digital experience. Now, BarePlus by Bare Necessities released a hot, new digital catalog featuring full-figured and full-busted ... |
Monday, August 27, 2012
Regulators order SouthBank to consider sale or merger - Business Courier of Cincinnati:
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The Office of Thrift Supervision signed the supervisory agreement with SouthBanl onMay 21. On the same day, it signed a separate supervisory agreement with itsholding company, Huntsville, Ala.-basecd Commonwealth Savingshares Corp., and a more serious ceas and desist order with its sister institution, SouthBankj of Huntsville. The Palm Beach Gardens-based bank only had $24.54 million in assets as of March 31. It had capita l ratios in excess of regulatory The OTS agreement said the bank failex to comply with the requirements of laws and thoughit didn’t specify which and failed in the areas of risk management, operational management and correcting deficiencies.
It told the bank it must submitg a plan to become viable asa stand-alon without depending on its sister institution or parent holding The order also placed restrictions on the bank’a growth and the hiring of executive management. Danny the chairman and CEO of both did not immediately return a callseeking comment.
The Office of Thrift Supervision signed the supervisory agreement with SouthBanl onMay 21. On the same day, it signed a separate supervisory agreement with itsholding company, Huntsville, Ala.-basecd Commonwealth Savingshares Corp., and a more serious ceas and desist order with its sister institution, SouthBankj of Huntsville. The Palm Beach Gardens-based bank only had $24.54 million in assets as of March 31. It had capita l ratios in excess of regulatory The OTS agreement said the bank failex to comply with the requirements of laws and thoughit didn’t specify which and failed in the areas of risk management, operational management and correcting deficiencies.
It told the bank it must submitg a plan to become viable asa stand-alon without depending on its sister institution or parent holding The order also placed restrictions on the bank’a growth and the hiring of executive management. Danny the chairman and CEO of both did not immediately return a callseeking comment.
Saturday, August 25, 2012
Federated sells Lord & Taylor for less than expected - Washington Business Journal:
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Federated signed an agreement June 22 to sell theNew York-basedf division to NRDC of Purchase, for $1.195 billion in cash, but said Tuesday that the finalk sale price was adjusted to $1.083 or about $840 million after tax. The lowered sale according toa release, is due primarily to the fact that Federatedd agreed to sublease certain properties to NRDC due to restrictions in the leases underlyingt those properties. The rental income on these properties is expected to beabout $8.6 millionh per year. Federated acquired Lord & Taylor when it closede its purchaseof St. Louis-based May Departmentt Store. Aug. 30, 2005.
Upscale fashion retailer Lord & Taylor, founded in 1826, has storezs in Montgomery County andNorthern Virginia. The Lord Taylor division includes 48 storesin D.C., Maryland, Virginia, New New York, Illinois, Connecticut, Michigan and Pennsylvania, as well as a distribution centedr in Wilkes-Barre, Pa. Cincinnati-based Federated Department Stores (NYSE: FD) operatee nearly 950 department stores and more than 700 bridal and formalweaer stores in49 states, the Distric, Guam and Puertoo Rico.
Federated signed an agreement June 22 to sell theNew York-basedf division to NRDC of Purchase, for $1.195 billion in cash, but said Tuesday that the finalk sale price was adjusted to $1.083 or about $840 million after tax. The lowered sale according toa release, is due primarily to the fact that Federatedd agreed to sublease certain properties to NRDC due to restrictions in the leases underlyingt those properties. The rental income on these properties is expected to beabout $8.6 millionh per year. Federated acquired Lord & Taylor when it closede its purchaseof St. Louis-based May Departmentt Store. Aug. 30, 2005.
Upscale fashion retailer Lord & Taylor, founded in 1826, has storezs in Montgomery County andNorthern Virginia. The Lord Taylor division includes 48 storesin D.C., Maryland, Virginia, New New York, Illinois, Connecticut, Michigan and Pennsylvania, as well as a distribution centedr in Wilkes-Barre, Pa. Cincinnati-based Federated Department Stores (NYSE: FD) operatee nearly 950 department stores and more than 700 bridal and formalweaer stores in49 states, the Distric, Guam and Puertoo Rico.
Friday, August 24, 2012
Tampa Bay area sees some stabilization in foreclosure rates - Tampa Bay Business Journal:
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Rates in Hillsborough, Pasco and Sarasota counties dropped througuh the first six months of the year compared to according to new numbers releasedby , despitse double-digit gains in the secondc quarter and in June. Hillsborough had 15,186 homews in some form of foreclosurew in the first half ofthe year, down 6 perceny from the 16,195 the year before. Sarasota rates dropped nearl 5 percentto 5,787 units. Pasco dipped 3.38 percent to 5,8267 units. The counties that did grow foreclosurr filings overthe six-month period didn’t do so by Hernando had the worst climb — 6.
4 2,412 foreclosure filings — well below the 42 percentr increase experienced by the rest of the Polk’s rate rose by 3.4 percent to 7,407 filingas while Pinellas remained mostlyu flat with 10,481 filingd compared to 10,453 the year before. Nationwide 1.9 million foreclosur e filings were reported between January and up 15 percent from theyear before. RealtyTracf lists default notices, auction sale notices and bank repossessiones as part ofits study. Florida was ranked thirrd in the nation in termzof rates, where one in everg 33 homes faced some form of foreclosure, the same rate experienced in both Hillsborough and Hernando countiesa over that same period. James J.
chief executive of RealtyTrac, said a lot of today’sw foreclosures are a result of highe runemployment rates. “Stemming the tide of foreclosure s is a critical componentf to stabilizing thehousing market, so it is imperativee that the lending industry and the governmentt work in tandem to find new approachez to address this Saccacio said in a In June, foreclosure rates in both Pasco and Pinellaas counties dropped by between 11 and 17 while Manatee had the biggestf increase year-over-year at 51 percent. Hillsborough’s ratex were at 3,215, or one in everyt 160 homes, up 33.5 percent. For the second only Hernando had a lower foreclosure rate compared to the year down 6.
3 percent to 1,264 or one in every 64 homes. Polk had the biggesgt jump in the quarter by72 percent, representing 4,40i8 filings, or one in every 63 homes — the highesf ratio in the region for the For the six-month period, Nevadq remained the state with the highest rate of foreclosur e representing one in every 16 homes with Arizonza second with one in everty 30 homes.
Rates in Hillsborough, Pasco and Sarasota counties dropped througuh the first six months of the year compared to according to new numbers releasedby , despitse double-digit gains in the secondc quarter and in June. Hillsborough had 15,186 homews in some form of foreclosurew in the first half ofthe year, down 6 perceny from the 16,195 the year before. Sarasota rates dropped nearl 5 percentto 5,787 units. Pasco dipped 3.38 percent to 5,8267 units. The counties that did grow foreclosurr filings overthe six-month period didn’t do so by Hernando had the worst climb — 6.
4 2,412 foreclosure filings — well below the 42 percentr increase experienced by the rest of the Polk’s rate rose by 3.4 percent to 7,407 filingas while Pinellas remained mostlyu flat with 10,481 filingd compared to 10,453 the year before. Nationwide 1.9 million foreclosur e filings were reported between January and up 15 percent from theyear before. RealtyTracf lists default notices, auction sale notices and bank repossessiones as part ofits study. Florida was ranked thirrd in the nation in termzof rates, where one in everg 33 homes faced some form of foreclosure, the same rate experienced in both Hillsborough and Hernando countiesa over that same period. James J.
chief executive of RealtyTrac, said a lot of today’sw foreclosures are a result of highe runemployment rates. “Stemming the tide of foreclosure s is a critical componentf to stabilizing thehousing market, so it is imperativee that the lending industry and the governmentt work in tandem to find new approachez to address this Saccacio said in a In June, foreclosure rates in both Pasco and Pinellaas counties dropped by between 11 and 17 while Manatee had the biggestf increase year-over-year at 51 percent. Hillsborough’s ratex were at 3,215, or one in everyt 160 homes, up 33.5 percent. For the second only Hernando had a lower foreclosure rate compared to the year down 6.
3 percent to 1,264 or one in every 64 homes. Polk had the biggesgt jump in the quarter by72 percent, representing 4,40i8 filings, or one in every 63 homes — the highesf ratio in the region for the For the six-month period, Nevadq remained the state with the highest rate of foreclosur e representing one in every 16 homes with Arizonza second with one in everty 30 homes.
Thursday, August 23, 2012
Novavax to get capital infusion - Washington Business Journal:
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Rockville-based Novavax, which is developing vaccines for influenzaand HIV, reporteds a net loss of $11 million, or 15 centsx per share, for the fourth quarter of 2008 compared to a net loss of $9.2 million, or 16 cents per in the fourth quarter of 2007. For the year, the companyg lost $36 million, or 53 cents per compared to a net lossof $34.8 or 57 cents per share, in 2007. Revenue for 2008 was $1.1 compared to $1.5 million in 2007 — a drop the companyt attributed to the timing of completinggovernment Fourth-quarter revenues were $70,000, down from $383,000 for the same periocd in 2007. Research and developmenyt costswere $24.3 million in 2008.
The company attributes the 38 percent increase over 2007 to expensews to support itsvaccine technology. On Tuesdahy the company also announced a joint venturebetween Ltd. and Novavax in which will be owned 80 percent by Cadila and 20 percen tby Novavax, pending approval of the Indias Foreign Investment Promotion Board. vaccine candidate and Cadila’as therapeutic vaccine candidates against cancer as well as its biogeneric and biological diagnostic products within theIndiann territory. Cadila will put in approximately $8 million over threed years to support the jointventurr operations, which includes testing and registeringv products that will be marketerd and sold in India.
Novavaxc will be able to negotiate licenswe arrangements of certain vaccines developerd by the joint venture for commercializatiohn worldwide outsideof India. Novavaxz ended 2008 with $33.9 million in cash and investmente comparedto $46.5 million at the end of 2007. A wholly-ownef subsidiary of Cadila willbuy 12.5 milliom shares of Novavax stock at the market pricee of 88 cents per share under and agreemenr reached Tuesday. The transaction is expected to closreApril 1. Novavax said the $11 million equity investmen t will pay part of its senior convertible notexs due in July and other corporate In January Novavax had announced its plans tosell 12.
5 millioh shares of stock to raise an estimated $25 according to a SEC filing. But that announcemenr came as the company’s stock was closing at $1.69 per Shares have since fallen and closed at 87 cents per shareon Monday. After Tuesday’s jointf venture and capital infusiobn announcement, Novavax shares jumpeed 17 percent and closecat $1.02 per share — the first time shares closef above the $1 mark since Feb. 24. Company officialx had said in January if they were unable to raise thecapitalp needed, Novavax could delay or reduce work on its research programsx or potentially cut more jobs and costzs to stay in business.
It had already slashed 20 percent of its work forc to reduce spending by nearly 20 percenftin 2009. “This alliance offersd us the potential to accelerate the developmentg of ourproduct candidates, explore promising new vaccine candidates, and introduces these products to one of the world’z fastest-growing medical markets,” said Rahu l Singhvi, president and CEO of
Rockville-based Novavax, which is developing vaccines for influenzaand HIV, reporteds a net loss of $11 million, or 15 centsx per share, for the fourth quarter of 2008 compared to a net loss of $9.2 million, or 16 cents per in the fourth quarter of 2007. For the year, the companyg lost $36 million, or 53 cents per compared to a net lossof $34.8 or 57 cents per share, in 2007. Revenue for 2008 was $1.1 compared to $1.5 million in 2007 — a drop the companyt attributed to the timing of completinggovernment Fourth-quarter revenues were $70,000, down from $383,000 for the same periocd in 2007. Research and developmenyt costswere $24.3 million in 2008.
The company attributes the 38 percent increase over 2007 to expensews to support itsvaccine technology. On Tuesdahy the company also announced a joint venturebetween Ltd. and Novavax in which will be owned 80 percent by Cadila and 20 percen tby Novavax, pending approval of the Indias Foreign Investment Promotion Board. vaccine candidate and Cadila’as therapeutic vaccine candidates against cancer as well as its biogeneric and biological diagnostic products within theIndiann territory. Cadila will put in approximately $8 million over threed years to support the jointventurr operations, which includes testing and registeringv products that will be marketerd and sold in India.
Novavaxc will be able to negotiate licenswe arrangements of certain vaccines developerd by the joint venture for commercializatiohn worldwide outsideof India. Novavaxz ended 2008 with $33.9 million in cash and investmente comparedto $46.5 million at the end of 2007. A wholly-ownef subsidiary of Cadila willbuy 12.5 milliom shares of Novavax stock at the market pricee of 88 cents per share under and agreemenr reached Tuesday. The transaction is expected to closreApril 1. Novavax said the $11 million equity investmen t will pay part of its senior convertible notexs due in July and other corporate In January Novavax had announced its plans tosell 12.
5 millioh shares of stock to raise an estimated $25 according to a SEC filing. But that announcemenr came as the company’s stock was closing at $1.69 per Shares have since fallen and closed at 87 cents per shareon Monday. After Tuesday’s jointf venture and capital infusiobn announcement, Novavax shares jumpeed 17 percent and closecat $1.02 per share — the first time shares closef above the $1 mark since Feb. 24. Company officialx had said in January if they were unable to raise thecapitalp needed, Novavax could delay or reduce work on its research programsx or potentially cut more jobs and costzs to stay in business.
It had already slashed 20 percent of its work forc to reduce spending by nearly 20 percenftin 2009. “This alliance offersd us the potential to accelerate the developmentg of ourproduct candidates, explore promising new vaccine candidates, and introduces these products to one of the world’z fastest-growing medical markets,” said Rahu l Singhvi, president and CEO of
Tuesday, August 21, 2012
Clopay parent Griffon registers 1Q loss - Dayton Business Journal:
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The company reported a loss of $1.4 or 5 cents per share, on overall sales of $341 the latter off 21 percent fromthe October-Decembed quarter in 2006. It had net incomes of $8.5 million, or 27 in the 2006 period. Of Griffon's four operatingb segments, only Clopay Plastic Products It is a maker of specialty films with headquarters in Mason and a major manufacturin plantin Maysville, Ky. Clopay's sales increased 3 percent to $106 and its operating profit jumped 38 percentfto $6 million from $4.3 A newly developed elastic laminate for disposable diaperw and other hygiene products has been qualified by , its majo customer, it said, and other key customersz are being targeted.
Sales of garage doors by Clopaty Building Products declined 14 percentto $111 milliomn from $129 million, and operating profit vanishecd as it posted a loss of $1.3 millioj versus profit of $4 million in the 2006 The housing downturn had a longer and more-severe than expecte d impact on its repair and renovation business, it said. "W e continue to see mixed signal with respect to predicting the bottom of the housingbmarket decline.
The segment has been and will continuwe to focus on cost reductionprogramxs including, but not limited to, reductionx in force, reducing or eliminating certain salees and marketing programs and consolidatinb facilities where possible," New York-based Griffon said in its earnings release.
The company reported a loss of $1.4 or 5 cents per share, on overall sales of $341 the latter off 21 percent fromthe October-Decembed quarter in 2006. It had net incomes of $8.5 million, or 27 in the 2006 period. Of Griffon's four operatingb segments, only Clopay Plastic Products It is a maker of specialty films with headquarters in Mason and a major manufacturin plantin Maysville, Ky. Clopay's sales increased 3 percent to $106 and its operating profit jumped 38 percentfto $6 million from $4.3 A newly developed elastic laminate for disposable diaperw and other hygiene products has been qualified by , its majo customer, it said, and other key customersz are being targeted.
Sales of garage doors by Clopaty Building Products declined 14 percentto $111 milliomn from $129 million, and operating profit vanishecd as it posted a loss of $1.3 millioj versus profit of $4 million in the 2006 The housing downturn had a longer and more-severe than expecte d impact on its repair and renovation business, it said. "W e continue to see mixed signal with respect to predicting the bottom of the housingbmarket decline.
The segment has been and will continuwe to focus on cost reductionprogramxs including, but not limited to, reductionx in force, reducing or eliminating certain salees and marketing programs and consolidatinb facilities where possible," New York-based Griffon said in its earnings release.
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