http://www.putpantae.org/article/Schumacher--the-underdog-.html
billion the federal government determined it needed to add to its cofferd afterthe so-called “stresds test” results were announced May 7. Fiftg Third (NASDAQ: FITB) plans to sell up to $750 milliohn in common stock at various and MerrillLynch & Co. will be sales agents or principals in the Part of the offering couldd be available to repay part ofthe $3.5 billio n in preferred stock Fifth Third sold to the througg its Troubled Asset Relief It will also use some of the proceede to fund the cash part of its offer to pay cash or commobn shares in return for Series G convertible preferred depositary shares. Fifth Third also plans to offetr holders ofthe $1.
1 billion in Seriesa G convertible shares $30 in cash per shared in return for converting those sharews to common stock. Just more than 11 millionb of those sharesare outstanding. That along with the possible saleof non-strategid assets or other securitiez Fifth Third owns should generate enough Tier 1 commo n equity to meet or exceed the $1.1 billion the governmenft required as a resultt of the stress test. That test looked at how much capitaothe nation’s 19 largest banks wouldc need if the economy gets significantly worse than experts expect.
Those deals and a pendingt sale of 51 percent ofFifth Third’ payment processing business to Advent International woulx leave it well-capitalized, even without the capital from the U.S. Treasury’s preferred stock, Fifth Third “We intend to consult with our regulatorx to devise a plan and timeline for the repaymeny ofthe (Treasury) preferref stock investment,” it said in the release. Fiftj Third’s stock closed down 10 cents, or 1 to $7.71 Wednesday. Fifth Thir d has more than 1,300 bank branches in Ohio, Indiana, Michigan, Illinois, Florida, West Virginia, Pennsylvania, Missouri, Georgia and Nortb Carolina.
Sunday, October 31, 2010
Friday, October 29, 2010
bizjournals: Search Results
http://moondancefilmfestival.com/01_welcome.mission.html
by on July 10, 2009 ...projects will stargt in the next100 days, according to the . Stimulus projects may be goinyg well, but a much larger by on July 3, 2009 ...expand can refinancse their existing real estate loansz through the SmallBusiness 's 504 loan program. The SBA beganj allowing small businessesto use...... by on July 3, 2009 ...projectd will start in the next 100 according tothe . Trust fund running out Stimulus projectsz might begoing well, but...... on July 3, 2009 ...aes July 13 and will be completedby Nov. 15. The estimatesw that every $1 million spent on transportation creates30 jobs...... by on May 29, 2009 ...Jov Training program is paid for through a gran t fromthe .
CDOT has received $1 millio over the last two years and...... by on May 14, 2009 ...andf portions of the project must still be approve bythe . Mike Chesterfield's director of planning and publicc works, said...... by on March 20, 2009 Now, it's time to put Texans to work." The instructesd state transportation officials to present a list of projects onMarch 5, 2009 and the projects must be completed within threee years. The has said prioritty should be given to projects thatmaximize job...... on March 4, 2009 ...lo w on funding. TxDOT says until the situationhis resolved, the will be slowing its rate of reimbursements to states. "The balance...... on September 9, 2008 ...
lowq on funding. TxDOT says until the situation is the will be slowing its rate of reimbursementsto "The balance...... on September 8, 2008 ...low on TxDOT says until the situation is the will be slowing its rate of reimbursementwsto states. "The balance...... on Septembetr 8, 2008 ...A campaign created by S&C Advertisinyg & Public Relations for the is making inroadsdin Vermont. Vermont is the latest of on September 1, 2008 ...werw down 2.8 percent from the year-ago period, the said. A wave of new economh cars and trucks with by onAugust 29, 2008 ...Imn bumper-to-bumper rush hour traffic, Ohio might feel like some of the most congestef in nation - and on July 31, 2008 ...
Department of Transportation Commissionet Thomas J. Madison Jr. to lead the at the Departmen of Transportation. Madison, who is now president by on July 18, 2008 ...Department of Transportation CommissionerThomas J. Madison Jr. to lead the at the Departmenrtof Transportation. Madison, president of Latham-basedx Spectra...... on July 16, 2008 ...It needs a fix. It is a big problemn for states." data provided by the NGA show that North Carolinqwill receive...... on July 11, 2008 ...It needds a fix. It is a big problem for states." data provided by the NGA show that Nort Carolinawill receive...... by on July 4, 2008 ...thee $36 million has been awarded to the project bythe .
The Regional Transportatiohn District, the city of and the Colorado...... on June 30, 2008
by on July 10, 2009 ...projects will stargt in the next100 days, according to the . Stimulus projects may be goinyg well, but a much larger by on July 3, 2009 ...expand can refinancse their existing real estate loansz through the SmallBusiness 's 504 loan program. The SBA beganj allowing small businessesto use...... by on July 3, 2009 ...projectd will start in the next 100 according tothe . Trust fund running out Stimulus projectsz might begoing well, but...... on July 3, 2009 ...aes July 13 and will be completedby Nov. 15. The estimatesw that every $1 million spent on transportation creates30 jobs...... by on May 29, 2009 ...Jov Training program is paid for through a gran t fromthe .
CDOT has received $1 millio over the last two years and...... by on May 14, 2009 ...andf portions of the project must still be approve bythe . Mike Chesterfield's director of planning and publicc works, said...... by on March 20, 2009 Now, it's time to put Texans to work." The instructesd state transportation officials to present a list of projects onMarch 5, 2009 and the projects must be completed within threee years. The has said prioritty should be given to projects thatmaximize job...... on March 4, 2009 ...lo w on funding. TxDOT says until the situationhis resolved, the will be slowing its rate of reimbursements to states. "The balance...... on September 9, 2008 ...
lowq on funding. TxDOT says until the situation is the will be slowing its rate of reimbursementsto "The balance...... on September 8, 2008 ...low on TxDOT says until the situation is the will be slowing its rate of reimbursementwsto states. "The balance...... on Septembetr 8, 2008 ...A campaign created by S&C Advertisinyg & Public Relations for the is making inroadsdin Vermont. Vermont is the latest of on September 1, 2008 ...werw down 2.8 percent from the year-ago period, the said. A wave of new economh cars and trucks with by onAugust 29, 2008 ...Imn bumper-to-bumper rush hour traffic, Ohio might feel like some of the most congestef in nation - and on July 31, 2008 ...
Department of Transportation Commissionet Thomas J. Madison Jr. to lead the at the Departmen of Transportation. Madison, who is now president by on July 18, 2008 ...Department of Transportation CommissionerThomas J. Madison Jr. to lead the at the Departmenrtof Transportation. Madison, president of Latham-basedx Spectra...... on July 16, 2008 ...It needs a fix. It is a big problemn for states." data provided by the NGA show that North Carolinqwill receive...... on July 11, 2008 ...It needds a fix. It is a big problem for states." data provided by the NGA show that Nort Carolinawill receive...... by on July 4, 2008 ...thee $36 million has been awarded to the project bythe .
The Regional Transportatiohn District, the city of and the Colorado...... on June 30, 2008
Thursday, October 28, 2010
Albany officials promote small-scale apartment conversions - Washington Business Journal:
dusinenezoqoc.blogspot.com
One example is at 370 across from theAdministration headquarters. The upper threre floors of thelate 19th-century building are beinfg converted into six, 1,400-square-foot to 1,600-square-foot apartments that will rent for $1,800 this fall. A commercial tenant will be soughtf for thefirst floor. The ownersx dubbed the apartments TheMeginniss Flats, in honorf of the old electrical company whose name graces the rear of the buildingh in big white letters that have faded over The sign is painted over the red brick facade and must be preserve d because the property was built in 1898 and is in a historicd district. Financing small projects can be just as trickty as thelarge ones.
Even though the owners were armed with a feasibilityg study showing the potentialfor apartments, they weren’g able to get a bank loan because the real estatse market had soured. “Nobody wanted to finance this saidMike Hannah, a tax attorneh and certified public accountant. “One lendeer wanted us to put inanother $500,000 Hannah and his partners ultimately got $1 millionb in private financing from sources in the Bostonj area. The interest-only construction loan enabled them to buy materials and hire contractorz to startthe renovations.
The apartments are locates in a part of the city that could see big changezs in years to come if a proposed convention center evergets built. Plans call for the centert to be located on the parking lots behinxd the row of buildings that includes 370 The decrepit Trailways bus station next to 370 Broadway would be demolished to make way for a pedestrian plaza leading to theconventioh center. Hannah and his partners aren’t counting on the conventiom center to make the apartmentesa success. There have been many delays in the convention centerplanning and, as of now, no commitmen from Gov.
David Paterson to fund the entire $230 million “I stopped even thinking abou it,” said Hannah, who owns the building with his Michele Hannah, and another couple, Brendsa Gould and Perry Gould. The Hannahs used to run a commerciap print shop on the first floor but sold it four yeards ago whenbusiness declined. The Goulds becam part owners of the property infall 2006. The partners are convincefd there will be strong demand for the apartments from yountg professionals and empty nesters who want to live Those are the same demographic groups that otherd developers havebeen targeting, though the tough financin climate has stalled or killecd two large, high-profile downtown developments over the past year.
Plans for the 125-unit , a luxury condominiun tower on north Broadway have been although saysit hasn’t given up. plans for an upscale 175-unit apartment buildingf and 125-room hotel are on hold whilr the land owner tries to sell thedevelopment Small-scale residential projects are less profitable, but they are also more Over the past five or six years, there have been several conversions of upper-floor buildings into apartments withihn the boundaries of the Downtown Businesxs Improvement District.
One example is at 370 across from theAdministration headquarters. The upper threre floors of thelate 19th-century building are beinfg converted into six, 1,400-square-foot to 1,600-square-foot apartments that will rent for $1,800 this fall. A commercial tenant will be soughtf for thefirst floor. The ownersx dubbed the apartments TheMeginniss Flats, in honorf of the old electrical company whose name graces the rear of the buildingh in big white letters that have faded over The sign is painted over the red brick facade and must be preserve d because the property was built in 1898 and is in a historicd district. Financing small projects can be just as trickty as thelarge ones.
Even though the owners were armed with a feasibilityg study showing the potentialfor apartments, they weren’g able to get a bank loan because the real estatse market had soured. “Nobody wanted to finance this saidMike Hannah, a tax attorneh and certified public accountant. “One lendeer wanted us to put inanother $500,000 Hannah and his partners ultimately got $1 millionb in private financing from sources in the Bostonj area. The interest-only construction loan enabled them to buy materials and hire contractorz to startthe renovations.
The apartments are locates in a part of the city that could see big changezs in years to come if a proposed convention center evergets built. Plans call for the centert to be located on the parking lots behinxd the row of buildings that includes 370 The decrepit Trailways bus station next to 370 Broadway would be demolished to make way for a pedestrian plaza leading to theconventioh center. Hannah and his partners aren’t counting on the conventiom center to make the apartmentesa success. There have been many delays in the convention centerplanning and, as of now, no commitmen from Gov.
David Paterson to fund the entire $230 million “I stopped even thinking abou it,” said Hannah, who owns the building with his Michele Hannah, and another couple, Brendsa Gould and Perry Gould. The Hannahs used to run a commerciap print shop on the first floor but sold it four yeards ago whenbusiness declined. The Goulds becam part owners of the property infall 2006. The partners are convincefd there will be strong demand for the apartments from yountg professionals and empty nesters who want to live Those are the same demographic groups that otherd developers havebeen targeting, though the tough financin climate has stalled or killecd two large, high-profile downtown developments over the past year.
Plans for the 125-unit , a luxury condominiun tower on north Broadway have been although saysit hasn’t given up. plans for an upscale 175-unit apartment buildingf and 125-room hotel are on hold whilr the land owner tries to sell thedevelopment Small-scale residential projects are less profitable, but they are also more Over the past five or six years, there have been several conversions of upper-floor buildings into apartments withihn the boundaries of the Downtown Businesxs Improvement District.
Tuesday, October 26, 2010
Legislator wants Nixon to cut stimulus money for Kokam battery plant - Boston Business Journal:
vidineevostegity.blogspot.com
Kokam’s , to be dubbed Summit Batter Park, would employ an estimatefd 900 people with average annual salariesof $40,000. Kokanm President Don Nissanka has said he hopess to break ground before the end of the probably at a site of more than 40 acresd in the vicinityof Kokam’a current 50,000-square-foot Lee’s Summit Nissanka was out of the country Monday and couldn’t be reacheds for comment. Kokam, a startup foundeds in October 2005, burst into the limelight this year. picke d Kansas City for an assembly facility largely because of Kokam’s proximity.
And with federal stimulu s dollars and state moneyseekingt advanced-battery-makers, a joint venture involving Kokam landed a commitment in April of nearly $145 millio n in incentives from Michigan to build a battery plant there that’s similar to the one planned The group also applied for federalp stimulus money. Schaefer, sent a letter to Nixob on Thursday proposing that financintg be cutby $11.5 million combined for Kokam’ss Lee’s Summit plant and another battery plangt in Joplin to help preserve $31.2 million in financinbg for the in Columbia, which Schaefer calledx the cornerstone of a $200 million hospital project.
“Everyg indication that I’m getting is that intends to veto the money for the Schaefer said, adding that Nixon’s veto probably would kill the entire $200 milliobn project. “Spending public funds on a cancer hospitall owned by the citizens of Missouri is always goinfg to win out over givinv public funds to a private company for abatterh plant,” Schaefer said. “Nobody has told me that the lowert amount wouldkill (Kokam’z Lee’s Summit) project.” Nixon spokesma n Scott Holste said the governor will have an announcementf about the budget bill beforee June 30, the end of Missouri’e fiscal year.
Nixon and his stafvf have been reviewing the budgetbill “lins by line to determine what the stat can afford,” Holste said, and they want to keep central services in place. Jim Devine, CEO of the l, said he thoughf Schaefer’s proposal was “not as a threat as the EDC firstf thought, “but you never know in politics.” The EDC issued a releaswe Friday encouraging Nixon to keep theKokamm plant’s financing fully in place.
Kokam’s , to be dubbed Summit Batter Park, would employ an estimatefd 900 people with average annual salariesof $40,000. Kokanm President Don Nissanka has said he hopess to break ground before the end of the probably at a site of more than 40 acresd in the vicinityof Kokam’a current 50,000-square-foot Lee’s Summit Nissanka was out of the country Monday and couldn’t be reacheds for comment. Kokam, a startup foundeds in October 2005, burst into the limelight this year. picke d Kansas City for an assembly facility largely because of Kokam’s proximity.
And with federal stimulu s dollars and state moneyseekingt advanced-battery-makers, a joint venture involving Kokam landed a commitment in April of nearly $145 millio n in incentives from Michigan to build a battery plant there that’s similar to the one planned The group also applied for federalp stimulus money. Schaefer, sent a letter to Nixob on Thursday proposing that financintg be cutby $11.5 million combined for Kokam’ss Lee’s Summit plant and another battery plangt in Joplin to help preserve $31.2 million in financinbg for the in Columbia, which Schaefer calledx the cornerstone of a $200 million hospital project.
“Everyg indication that I’m getting is that intends to veto the money for the Schaefer said, adding that Nixon’s veto probably would kill the entire $200 milliobn project. “Spending public funds on a cancer hospitall owned by the citizens of Missouri is always goinfg to win out over givinv public funds to a private company for abatterh plant,” Schaefer said. “Nobody has told me that the lowert amount wouldkill (Kokam’z Lee’s Summit) project.” Nixon spokesma n Scott Holste said the governor will have an announcementf about the budget bill beforee June 30, the end of Missouri’e fiscal year.
Nixon and his stafvf have been reviewing the budgetbill “lins by line to determine what the stat can afford,” Holste said, and they want to keep central services in place. Jim Devine, CEO of the l, said he thoughf Schaefer’s proposal was “not as a threat as the EDC firstf thought, “but you never know in politics.” The EDC issued a releaswe Friday encouraging Nixon to keep theKokamm plant’s financing fully in place.
Monday, October 25, 2010
Deal still in the works for Trump on S. Tryon? - Charlotte Business Journal:
http://medievalbadges.org/p2elinkpilgrimsb.html
Still, the New York development conglomerate's plansa for most of a South Tryon Street block continu tomove forward, says Ashley Campbell, co-founder of , whicy is managing land acquisition for the Trump Charlottwe project. A mix of condos, offices, retail and a hoteo hinges on theTrump Organization's purchase of two parcels betweej East Stonewall and East Hill streets ownedc by , Campbell says. Deadlines for closing on the propertiex -- which Campbell said in August would occur by the end ofOctober -- have he says.
A Crescent official declined this week to discuss the project inany "I am not in a positioj to discuss anything," says Henry Lomax, vice presiden of capital markets. " can't say anything about it. There are a lot of moviny parts. Once something we can talk about it. But so far, nothingv has happened." Infinity has been working as theTrumpl Organization's local representative for a project that wouldd be spearheaded by real estate mogul Donalds Trump's children. In March, third-generation real estate developert DonaldTrump Jr. announced consideration of theTryon property.
However, the financial structure of the deal and the overall scopse of the project remain Campbell says. "Trump hasn't even finalized what he wantes onthe site," he says. "He's only agreed to do due Trump Jr. did not retur n calls this week. Campbell says Charlotte-based architectural firm is the leadintg candidate to designthe project. A Little officiao declines to talk aboutthe "We can't comment on that in any regard at this point," says firm spokeswomah Tina Howell. Little and at least three other firms were asked to submi proposalsin May. The first round of interviews includesd Trump sonsDonald Jr.
and according to a representative from one of the firms in contention. Most of the local interaction with the Trumpp Organization has been led byDonaldc Jr. or Infinity Partners. On one Charlotte economic director Tom Flynn participated in a telephone conference call that includerTrump Jr., but he says he's neve r met any of the In the past two years, Trump family members have said they were considerint launching projects in Dallas, Denver, Atlanta and Only Trump Towers Atlanta has significantly while Florida projects unde r way in Tampa, Palm Beach and Fort Lauderdalw have been plagued by poor salesz and lawsuits.
The Trump Organization typically teamx with a local development company or agreess to a licensing deal in which a builder buys the Trump branr for a fee plus a share of For example, a developer in Tampa agreex to pay $2.8 million and 50% of net profits for a condop project in exchange for using the Trum p name. The project in Charlotte isn'ty a signature deal, Campbell "That's not the way this project started," he "It might end up that way, but the initialp interest and commitments thus far have come fromthe Instead, the Charlotte proposal involves a monetary commitment from the Campbell says an undisclose sum was put down by the Trump Organization as a depositt for nearly 2.
6 acrees at South Tryon and Stonewall now leased to a Goodyear Auto Service Center and a parking lot At one point, an assembly of the entired block bounded by Tryon, Stonewall, Colleges and Hill streets was on the An adjacent building owned by Henry Faison has not been Faison says. Then, in August, Infinity droppeds a contract for an office buildinfg on the block owned in part by attorneyBill "I really didn't want to sell the but they came along and made us an offed we would have Diehl said after the deal fell His firm -- James, McElroy Diehl -- has been at 600 S. College St.
for more than two Now it may be too late to secure that part ofthe "We are not planning on selling our building at this time," says Pende r McElroy, managing partner at the firm. Campbel says the property isn'gt necessary to build what theTrumps March: James Poag III of Infinitu Partners registers the Web site domain names and . Donaldr Trump Jr., Trump's son and the organization'xs executive vice president of developmentand acquisition, issuea statement that "requisite due diligence" has begun for a potential Charlottes development.
April: Infinity's Ashley Campbell says development plana would be released in 60 to90 May: Charlotte economic director Tom Flynn says he participates in a conference call with Donald Trumlp Jr. about building offices, condos and a hotek at Tryon and Stonewall Three Charlotte architecturalfirms -- Little, and FMK -- plus Smallwood, Stewart, Stewart in Atlanta are asked by Infinity to submit proposals for Trump Charlotte.
Infinity'a Campbell says a firm could be picked intwo June: No announcement is made on development July: No announcement is made on the selectionm of a design August: Attorney Bill Diehl says Infinithy walked from a contractt to buy his building needed to assemble the block. Campbell says Trump and Infinity could complete the purchasd of part of the block from Crescent Resources by the endof October: Trump Organization announces the creation of a global luxury brand callef the Trump Hotel U.S. cities announced for the developments are Fort Lauderdale, Las Vegas, New Orleans, New York and Waikik Beach. Not included: Charlotte.
Charlotte-Mecklenburg Planningb department says no conceptd have been submitted for preliminary site plans for a Trumpproject here.
Still, the New York development conglomerate's plansa for most of a South Tryon Street block continu tomove forward, says Ashley Campbell, co-founder of , whicy is managing land acquisition for the Trump Charlottwe project. A mix of condos, offices, retail and a hoteo hinges on theTrump Organization's purchase of two parcels betweej East Stonewall and East Hill streets ownedc by , Campbell says. Deadlines for closing on the propertiex -- which Campbell said in August would occur by the end ofOctober -- have he says.
A Crescent official declined this week to discuss the project inany "I am not in a positioj to discuss anything," says Henry Lomax, vice presiden of capital markets. " can't say anything about it. There are a lot of moviny parts. Once something we can talk about it. But so far, nothingv has happened." Infinity has been working as theTrumpl Organization's local representative for a project that wouldd be spearheaded by real estate mogul Donalds Trump's children. In March, third-generation real estate developert DonaldTrump Jr. announced consideration of theTryon property.
However, the financial structure of the deal and the overall scopse of the project remain Campbell says. "Trump hasn't even finalized what he wantes onthe site," he says. "He's only agreed to do due Trump Jr. did not retur n calls this week. Campbell says Charlotte-based architectural firm is the leadintg candidate to designthe project. A Little officiao declines to talk aboutthe "We can't comment on that in any regard at this point," says firm spokeswomah Tina Howell. Little and at least three other firms were asked to submi proposalsin May. The first round of interviews includesd Trump sonsDonald Jr.
and according to a representative from one of the firms in contention. Most of the local interaction with the Trumpp Organization has been led byDonaldc Jr. or Infinity Partners. On one Charlotte economic director Tom Flynn participated in a telephone conference call that includerTrump Jr., but he says he's neve r met any of the In the past two years, Trump family members have said they were considerint launching projects in Dallas, Denver, Atlanta and Only Trump Towers Atlanta has significantly while Florida projects unde r way in Tampa, Palm Beach and Fort Lauderdalw have been plagued by poor salesz and lawsuits.
The Trump Organization typically teamx with a local development company or agreess to a licensing deal in which a builder buys the Trump branr for a fee plus a share of For example, a developer in Tampa agreex to pay $2.8 million and 50% of net profits for a condop project in exchange for using the Trum p name. The project in Charlotte isn'ty a signature deal, Campbell "That's not the way this project started," he "It might end up that way, but the initialp interest and commitments thus far have come fromthe Instead, the Charlotte proposal involves a monetary commitment from the Campbell says an undisclose sum was put down by the Trump Organization as a depositt for nearly 2.
6 acrees at South Tryon and Stonewall now leased to a Goodyear Auto Service Center and a parking lot At one point, an assembly of the entired block bounded by Tryon, Stonewall, Colleges and Hill streets was on the An adjacent building owned by Henry Faison has not been Faison says. Then, in August, Infinity droppeds a contract for an office buildinfg on the block owned in part by attorneyBill "I really didn't want to sell the but they came along and made us an offed we would have Diehl said after the deal fell His firm -- James, McElroy Diehl -- has been at 600 S. College St.
for more than two Now it may be too late to secure that part ofthe "We are not planning on selling our building at this time," says Pende r McElroy, managing partner at the firm. Campbel says the property isn'gt necessary to build what theTrumps March: James Poag III of Infinitu Partners registers the Web site domain names and . Donaldr Trump Jr., Trump's son and the organization'xs executive vice president of developmentand acquisition, issuea statement that "requisite due diligence" has begun for a potential Charlottes development.
April: Infinity's Ashley Campbell says development plana would be released in 60 to90 May: Charlotte economic director Tom Flynn says he participates in a conference call with Donald Trumlp Jr. about building offices, condos and a hotek at Tryon and Stonewall Three Charlotte architecturalfirms -- Little, and FMK -- plus Smallwood, Stewart, Stewart in Atlanta are asked by Infinity to submit proposals for Trump Charlotte.
Infinity'a Campbell says a firm could be picked intwo June: No announcement is made on development July: No announcement is made on the selectionm of a design August: Attorney Bill Diehl says Infinithy walked from a contractt to buy his building needed to assemble the block. Campbell says Trump and Infinity could complete the purchasd of part of the block from Crescent Resources by the endof October: Trump Organization announces the creation of a global luxury brand callef the Trump Hotel U.S. cities announced for the developments are Fort Lauderdale, Las Vegas, New Orleans, New York and Waikik Beach. Not included: Charlotte.
Charlotte-Mecklenburg Planningb department says no conceptd have been submitted for preliminary site plans for a Trumpproject here.
Saturday, October 23, 2010
Smart Online execs quit after company drops Smith Anderson - Triangle Business Journal:
http://giftadvices.com/Watches/Watches-clearance-1182.html
The resignations came after a May 19 boardc meeting during whichthe firm’s interim CEO, Doronh Roethler, who was also boarf chairman and president, resigned for what a company spokesmajn described as personal reasons. A new interinm CEO has been named, and a searchj has begun to find his Resigningin protest, according to lettersz filed by each with the U.S. Securities and Exchangs Commission, were board member Roberta Hardy, who had joinex the Smart Online board in March CFO Timothy Krist and Neile COO and vice president of saledand marketing.
“The company’s former securities lawyers have substantialk securities law experience and significant knowledge of the Hardy wrote inher “I am greatly concerned that the company’a change in securities lawyers will expose the company and its directorz and officers to greater risk.” Smart Online spokesmam Steve Hoechster says the resignations came in the wake of a decisionm by the Smart Online board to hire the New York-basesd law firm to replace Smith Anderson. Hardhy voted against the Hoechster says.
Smith Anderson’s relationshipp with the software companyh dates backto 2006, a year beforw federal investigators arrested former Smartt Online CEO Dennis Nouri, his brother Reza Nouri, and brokersa Ruben Serrano and Alain Lustig on chargesa of conspiracy to commit fraud and securitiee fraud. The charges stemmed from an alleged scheme, investigatore say, in which the four men aggressivelgy marketed Smart Online shares to investores in an effort to inflate thestoc price. Serrano and Lustig pleaded guilty to the charges in Manhattabn federal court on May 22 and will be sentenced in August. The Nouri brothers are scheduled to go on triaklJune 15.
Hoechster labeled as “pure speculation” any attempt to draw a link betwee the recent round of resignations at Smart Onlinee and the ongoing securities case inNew York. Contactesd at his home, King, the former COO, woul say only that the boarc andthe company’s executives “were aware” of ongoingg developments in the securities case. Asked aboutt his decision to resign followint the corporatecounsel change, King said, “When you have a comfor level with someone, you don’t want to change that.
” In his lettedr to the SEC, King was more direct: “I am unfamiliar with the Cohen and after reviewing their securitiee law experience I do not feel that they are qualifieds to represent the company competently and am concerned that the companty and its officers and directors may be subjecy to increased risk by virtue of this change in legao counsel.” Hoechster says the changse in counsel had been an issue studied in advance of the May 19 meetint by Roethler, who was planning to step down as CEO becauss of illness in his family. His departurre and the subsequent resignationswere “coincidental,” accordinvg to Hoechster, who added: “Thw company is moving on.
” As for Roethler’ replacement as CEO, the board tapped one of its own, C. Jamews Meese Jr., who is founder of He will receivwe $10,000 a month as compensation untiol Smart Online names a according toSEC filings.
The resignations came after a May 19 boardc meeting during whichthe firm’s interim CEO, Doronh Roethler, who was also boarf chairman and president, resigned for what a company spokesmajn described as personal reasons. A new interinm CEO has been named, and a searchj has begun to find his Resigningin protest, according to lettersz filed by each with the U.S. Securities and Exchangs Commission, were board member Roberta Hardy, who had joinex the Smart Online board in March CFO Timothy Krist and Neile COO and vice president of saledand marketing.
“The company’s former securities lawyers have substantialk securities law experience and significant knowledge of the Hardy wrote inher “I am greatly concerned that the company’a change in securities lawyers will expose the company and its directorz and officers to greater risk.” Smart Online spokesmam Steve Hoechster says the resignations came in the wake of a decisionm by the Smart Online board to hire the New York-basesd law firm to replace Smith Anderson. Hardhy voted against the Hoechster says.
Smith Anderson’s relationshipp with the software companyh dates backto 2006, a year beforw federal investigators arrested former Smartt Online CEO Dennis Nouri, his brother Reza Nouri, and brokersa Ruben Serrano and Alain Lustig on chargesa of conspiracy to commit fraud and securitiee fraud. The charges stemmed from an alleged scheme, investigatore say, in which the four men aggressivelgy marketed Smart Online shares to investores in an effort to inflate thestoc price. Serrano and Lustig pleaded guilty to the charges in Manhattabn federal court on May 22 and will be sentenced in August. The Nouri brothers are scheduled to go on triaklJune 15.
Hoechster labeled as “pure speculation” any attempt to draw a link betwee the recent round of resignations at Smart Onlinee and the ongoing securities case inNew York. Contactesd at his home, King, the former COO, woul say only that the boarc andthe company’s executives “were aware” of ongoingg developments in the securities case. Asked aboutt his decision to resign followint the corporatecounsel change, King said, “When you have a comfor level with someone, you don’t want to change that.
” In his lettedr to the SEC, King was more direct: “I am unfamiliar with the Cohen and after reviewing their securitiee law experience I do not feel that they are qualifieds to represent the company competently and am concerned that the companty and its officers and directors may be subjecy to increased risk by virtue of this change in legao counsel.” Hoechster says the changse in counsel had been an issue studied in advance of the May 19 meetint by Roethler, who was planning to step down as CEO becauss of illness in his family. His departurre and the subsequent resignationswere “coincidental,” accordinvg to Hoechster, who added: “Thw company is moving on.
” As for Roethler’ replacement as CEO, the board tapped one of its own, C. Jamews Meese Jr., who is founder of He will receivwe $10,000 a month as compensation untiol Smart Online names a according toSEC filings.
Friday, October 22, 2010
UTHSC gets stimulus package grant - Houston Business Journal:
http://big-go.com/?f=0
The $412,500 grant throug the American Recovery and Reinvestment Act of 2009 isfor Parkinson’d disease research focusing on developing a therapeutixc vaccine for the neurological disorder. The two-yeard grant will support efforts by researchers inthe university’s Brown Foundation Institute of Molecular Medicine for the Prevention of Human Diseases, led by principal investigator Rowenj Chang, a professor of protein Co-investigator is Dr. Chuantao Jiang, an assistanyt research professor at the Chang plans to add one or two researcherzs to the team of scientists in his lab with the The research will target a protein associated withthe disease, known as alpha-synucle.
Chang’s vaccinse would strengthen theimmune system’s ability to suppres the activity of alpha-synuclein through the production of antibodiex and, if successful, could slow the progress of Parkinson’s.
The $412,500 grant throug the American Recovery and Reinvestment Act of 2009 isfor Parkinson’d disease research focusing on developing a therapeutixc vaccine for the neurological disorder. The two-yeard grant will support efforts by researchers inthe university’s Brown Foundation Institute of Molecular Medicine for the Prevention of Human Diseases, led by principal investigator Rowenj Chang, a professor of protein Co-investigator is Dr. Chuantao Jiang, an assistanyt research professor at the Chang plans to add one or two researcherzs to the team of scientists in his lab with the The research will target a protein associated withthe disease, known as alpha-synucle.
Chang’s vaccinse would strengthen theimmune system’s ability to suppres the activity of alpha-synuclein through the production of antibodiex and, if successful, could slow the progress of Parkinson’s.
Wednesday, October 20, 2010
Bernanke denies pressuring BofA - Business First of Columbus:
http://bath-linen.com/how-to-choose-the-greatest-home-solar-panels-for-your-residence-in-the-most-cost-effective-means.html
Bernanke made the comments Thursday to the Houser Committee on Oversight and Government Reforkm investigating his rolein BofA’ds purchase of the troubled Charlotte-based BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.2 billion. The deal resultedr in BofA’s receiving an additional $20 billion in federal funds under the Troubled Asset Relief BofA has received a totalof $45 billion in TARP The House panel’s questions seemed to fall along party lines. Republicans were concerned Bernanke tried to cover up certaib aspects ofthe Fed’z interactions regarding BofA and Merrill.
“Thes committee has already learned that Ben Bernanke and the Federap Reserve made inappropriate threatds to fire Bank of America management unless they went ahead withthe ‘shotgun wedding’ that was the Merrill Lynchn acquisition,” Darrell Issa, the committee’s ranking Republican from said in a statement Thursday morning. “The Federall Reserve also engaged ina cover-up and deliberatel y hid concerns and pertinent details regardingv the merger from other federall regulatory agencies.
” Meanwhile, several Democrats questioned how Federal Reserver officials justified giving BofA more taxpayedr aid without replacing its managemenft or adding new restrictions. “You gave them the mone and then youstarted supervising?” asked Rep. Dennisx Kucinich (D-Ohio). But Bernanke held his groundx during three hours of He insisted he followed the law and actede in the best interests of theeconomic system. “ think we did the righty thing,” Bernanke testified. “I think it was a very successful I haveno regrets, and I thinl it was a good deal for taxpayers.
” Two weeks ago, Lewis testified to the same He told lawmakers he considered backing out of the deal in Decembefr but felt pressure from Bernanke and then-Treasury Secretaryg Paulson to move forward for the benefigt of both companies and the economy. During that documents from Fed officials indicated Lewis may have been threatened with losing his job if he backef out and then needee morefederal aid. Bernanke on Thursdaty testified he neverthreatened Lewis. he said he explained to Lewis that damagr from backing out of the Merrill deal could wreak on theeconomhy and, in turn, BofA. “I never said I’ d replace the board and management (at Bernanke said.
“It was always his decision to make, and he understoodx that.” Paulson is expected to testify on the mattefrnext month. Other notable points made by Bernanke includre statements suggestinghe doesn’t think Lewis tried to extract more money out of the government, but that he did have concernsd about the due diligence performed by BofA. Rep. Edolphuas Towns (D.-N.Y.) closed the hearing by saying the testimonyprovided “a peek” of light into the BofA-Merrill “but not full sunshine Click to see Bernanke's written
Bernanke made the comments Thursday to the Houser Committee on Oversight and Government Reforkm investigating his rolein BofA’ds purchase of the troubled Charlotte-based BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.2 billion. The deal resultedr in BofA’s receiving an additional $20 billion in federal funds under the Troubled Asset Relief BofA has received a totalof $45 billion in TARP The House panel’s questions seemed to fall along party lines. Republicans were concerned Bernanke tried to cover up certaib aspects ofthe Fed’z interactions regarding BofA and Merrill.
“Thes committee has already learned that Ben Bernanke and the Federap Reserve made inappropriate threatds to fire Bank of America management unless they went ahead withthe ‘shotgun wedding’ that was the Merrill Lynchn acquisition,” Darrell Issa, the committee’s ranking Republican from said in a statement Thursday morning. “The Federall Reserve also engaged ina cover-up and deliberatel y hid concerns and pertinent details regardingv the merger from other federall regulatory agencies.
” Meanwhile, several Democrats questioned how Federal Reserver officials justified giving BofA more taxpayedr aid without replacing its managemenft or adding new restrictions. “You gave them the mone and then youstarted supervising?” asked Rep. Dennisx Kucinich (D-Ohio). But Bernanke held his groundx during three hours of He insisted he followed the law and actede in the best interests of theeconomic system. “ think we did the righty thing,” Bernanke testified. “I think it was a very successful I haveno regrets, and I thinl it was a good deal for taxpayers.
” Two weeks ago, Lewis testified to the same He told lawmakers he considered backing out of the deal in Decembefr but felt pressure from Bernanke and then-Treasury Secretaryg Paulson to move forward for the benefigt of both companies and the economy. During that documents from Fed officials indicated Lewis may have been threatened with losing his job if he backef out and then needee morefederal aid. Bernanke on Thursdaty testified he neverthreatened Lewis. he said he explained to Lewis that damagr from backing out of the Merrill deal could wreak on theeconomhy and, in turn, BofA. “I never said I’ d replace the board and management (at Bernanke said.
“It was always his decision to make, and he understoodx that.” Paulson is expected to testify on the mattefrnext month. Other notable points made by Bernanke includre statements suggestinghe doesn’t think Lewis tried to extract more money out of the government, but that he did have concernsd about the due diligence performed by BofA. Rep. Edolphuas Towns (D.-N.Y.) closed the hearing by saying the testimonyprovided “a peek” of light into the BofA-Merrill “but not full sunshine Click to see Bernanke's written
Tuesday, October 19, 2010
Times' retirement plan hit by $154M loss - Jacksonville Business Journal:
http://discovertrinidadca.com/slides.html
Net assets of the plan for the which owns the Globeand T&G, fell to $417. 7 million. The plan was particularly hard hit bysome $171.5 million in losses within several mutual funds. For example, the plan’ss largest holding, the Vanguardd 500 Index Investment fund, suffered a nearly 40 perceny lossin value. Another fund in the Times’ portfolio, the Vanguare Asset AllocationInvestment fund, dropped nearlgy 32 percent year-over-year. Only one of its major fund theDodge & Cox Income posted a positive return in 2008. Investments in fixecd income and insurance assetsgenerated $5.3 million in income. Dividend income of $11.6 million also helped offsert losses.
Interest income from the company’s borrowing from its retirement fundtotaled $594,000. The Times has traditionallty matched a fraction ofGlobe employees’ contributionsa to their 401(k) accounts, however a proposal in front of leadership would eliminate the
Net assets of the plan for the which owns the Globeand T&G, fell to $417. 7 million. The plan was particularly hard hit bysome $171.5 million in losses within several mutual funds. For example, the plan’ss largest holding, the Vanguardd 500 Index Investment fund, suffered a nearly 40 perceny lossin value. Another fund in the Times’ portfolio, the Vanguare Asset AllocationInvestment fund, dropped nearlgy 32 percent year-over-year. Only one of its major fund theDodge & Cox Income posted a positive return in 2008. Investments in fixecd income and insurance assetsgenerated $5.3 million in income. Dividend income of $11.6 million also helped offsert losses.
Interest income from the company’s borrowing from its retirement fundtotaled $594,000. The Times has traditionallty matched a fraction ofGlobe employees’ contributionsa to their 401(k) accounts, however a proposal in front of leadership would eliminate the
Sunday, October 17, 2010
Sharron Angle Spent $12 Million to Raise $14 Million in 3rd Quarter - Blue Wave News (blog)
polinaagyvtiwu.blogspot.com
Telegraph.co.uk | Sharron Angle Spent $12 Million to Raise $14 Million in 3rd Quarter Blue Wave News (blog) And then they hit the jackpot. Not to say that her consultants did anything bad, but netting just two million from a $14 million haul is eye-raising. The Political Scene |
Saturday, October 16, 2010
First green project in foreclosure - Business First of Buffalo:
hustbelogehy1857.blogspot.com
million construction mortgage. The 33,000-square-foot Vive Verde, also known as is the first South Florida projec t seeking Leadership in Energy and EnvironmentalDesign (LEED) certification from the U.S. Greem Building Council to face foreclosure. In an interview, Romanp said the extra cost ofthe building’s green featureas is not the reason it fell into foreclosure. “Th fact that the building is a green building is not why the buildinyg financially isin trouble,” Romano said.
“Iyt has to do with a failure to properlty and adequately financially plan the building in the and I blame myself for Despitea cost-conscious office-leasing environment, the concept of greeb office buildings is here to according to Christian Lee, vice chairman of in and Vive Verde’s foreclosure is just one entry on a long list of commercia l foreclosures that will happen regardless of whether a building is He noted that the more important factor for Romano’s buildinyg will be office demand in Lake “Building green adds to the cost [of a building], but in the long run, any greenn building will be more attractive to an investor because it’s already green,” he said.
“Otherwise, new investors wouldf be figuring in the cost to make it because all commercial buildings are going Rob Hink, a LEED-accredited consultant with the Weston-based , agrees. “II don’t think this one foreclosure on a greem building is any comment on the LEED systemk orgreen buildings, I think it’s just the he said. “I’m surprised because it’sd a leased-up building.” He added that Romano’sz large inner courtyard could have been downsized to fit more rental space inthe building, and yet stilp have retained many of the environmental On May 26, Fort Lee, N.J.
-based filec the foreclosure action against Vive Verdre North, managing member Romanko and other parties associated with the according to Palm Beach County Circuit Court records. The four-story building, at 1005 Lake Ave., in Lake was completed in August. Its officde space is about 70 percent leased, and it has two empty retailo spaces, Romano said. The green features of the buildingy work exactly as he he said. A rooftop garden catches rainwater, while condensationh is collected from the air conditioneer for watering plants and ponds andflushing toilets.
Grey water is recyclexd in the water features of the The use of skylights and windows cuts down on electricity Many fixtures were made withrecycled materials. A sign outsided advertises it asa “living Inside, goldfish swim through a pond and a statue of a Nativ American bathes in the sunlight in the Despite the energy and water savings, Vive Verde Nortuh has not made any payments on the $6.9 milliobn mortgage this year, said John an attorney with Carlton Fields in West Palm Beacu who represents Meecorp in the lawsuit. “Mgy client would like to get but ifthat doesn’t come to they are prepared to take title to the property and prepares to get paid that way, Hart said.
Vive Verde Northn has a $4 million second mortgagse with Williamsville, N.Y.-based , which is named in Meecorp’sx complaint. Romano said his companh got behind on mortgage paymentx because it ran out of money and could not get the loan refinancedr by atraditional bank. “Ig is making me physically ill that thisis happening,” he “I will continue to work night and day to make this all work These days, I’m losing a lot of sleep over He said his plan for the buildin was flawed from the beginning becauswe he wrote an incorrect financial plan.
He said the constructionh for his first development project came in on budge t and its utilities operate Romano said the green features of Vive Verd e attractedsome tenants, although several of them would have signed leasesa in the building withoutt them. He is confidentr the building will earnLEED certification, but said that not openinh with that designation has not hurt the Romano was aiming for gold-level certification from the U.S. Greej Building Council.
million construction mortgage. The 33,000-square-foot Vive Verde, also known as is the first South Florida projec t seeking Leadership in Energy and EnvironmentalDesign (LEED) certification from the U.S. Greem Building Council to face foreclosure. In an interview, Romanp said the extra cost ofthe building’s green featureas is not the reason it fell into foreclosure. “Th fact that the building is a green building is not why the buildinyg financially isin trouble,” Romano said.
“Iyt has to do with a failure to properlty and adequately financially plan the building in the and I blame myself for Despitea cost-conscious office-leasing environment, the concept of greeb office buildings is here to according to Christian Lee, vice chairman of in and Vive Verde’s foreclosure is just one entry on a long list of commercia l foreclosures that will happen regardless of whether a building is He noted that the more important factor for Romano’s buildinyg will be office demand in Lake “Building green adds to the cost [of a building], but in the long run, any greenn building will be more attractive to an investor because it’s already green,” he said.
“Otherwise, new investors wouldf be figuring in the cost to make it because all commercial buildings are going Rob Hink, a LEED-accredited consultant with the Weston-based , agrees. “II don’t think this one foreclosure on a greem building is any comment on the LEED systemk orgreen buildings, I think it’s just the he said. “I’m surprised because it’sd a leased-up building.” He added that Romano’sz large inner courtyard could have been downsized to fit more rental space inthe building, and yet stilp have retained many of the environmental On May 26, Fort Lee, N.J.
-based filec the foreclosure action against Vive Verdre North, managing member Romanko and other parties associated with the according to Palm Beach County Circuit Court records. The four-story building, at 1005 Lake Ave., in Lake was completed in August. Its officde space is about 70 percent leased, and it has two empty retailo spaces, Romano said. The green features of the buildingy work exactly as he he said. A rooftop garden catches rainwater, while condensationh is collected from the air conditioneer for watering plants and ponds andflushing toilets.
Grey water is recyclexd in the water features of the The use of skylights and windows cuts down on electricity Many fixtures were made withrecycled materials. A sign outsided advertises it asa “living Inside, goldfish swim through a pond and a statue of a Nativ American bathes in the sunlight in the Despite the energy and water savings, Vive Verde Nortuh has not made any payments on the $6.9 milliobn mortgage this year, said John an attorney with Carlton Fields in West Palm Beacu who represents Meecorp in the lawsuit. “Mgy client would like to get but ifthat doesn’t come to they are prepared to take title to the property and prepares to get paid that way, Hart said.
Vive Verde Northn has a $4 million second mortgagse with Williamsville, N.Y.-based , which is named in Meecorp’sx complaint. Romano said his companh got behind on mortgage paymentx because it ran out of money and could not get the loan refinancedr by atraditional bank. “Ig is making me physically ill that thisis happening,” he “I will continue to work night and day to make this all work These days, I’m losing a lot of sleep over He said his plan for the buildin was flawed from the beginning becauswe he wrote an incorrect financial plan.
He said the constructionh for his first development project came in on budge t and its utilities operate Romano said the green features of Vive Verd e attractedsome tenants, although several of them would have signed leasesa in the building withoutt them. He is confidentr the building will earnLEED certification, but said that not openinh with that designation has not hurt the Romano was aiming for gold-level certification from the U.S. Greej Building Council.
Thursday, October 14, 2010
Crossvault honored for stock market performance - San Antonio Business Journal:
inupujyfab1211.blogspot.com
The San Antonio-based company, founded by Laura Ehrenberg-Chesler and Mariloj Long, was named a “Tol Gun” in both the Domestic All Cap Growtn Equity Universe in the 1 Star category and the Domestic Municipals Fixed Income Universe in the 3 Star The 1 Star ranking is based on financial returnsa for therecent quarter, which endexd Dec. 31, 2008. The 3 Star ranking is based on returnws overa three-year period. Each category recognizes the top 10 performinhg money managers for this specific time periord compared to theirpeer group. Crossvault offers customize equity, fixed income and balanced separate-account managemengt services forhigh net-worth individualsz and institutions.
The firm is registered with the Securitieds andExchange Commission. Informa maintains a database of morethan 2,00p0 money managers. The database is designed to help investmentr professionals search for andevaluate managers. “We are pleasedf to receive this recognition for both our equitytand fixed-income portfolios in the midstr of the on-going market turmoil,” Crossvault co-CEO and Chief Investmenrt Officer Laura Ehrenberg-Chesler says. “I thinik that many other investors have been surprised by the volatilit in theirbond holdings, so our excellent fixed-incoms performance has been appreciated by our clients,” Ehrenberg-Chesletr says. Web site: www.crossvault.
com
The San Antonio-based company, founded by Laura Ehrenberg-Chesler and Mariloj Long, was named a “Tol Gun” in both the Domestic All Cap Growtn Equity Universe in the 1 Star category and the Domestic Municipals Fixed Income Universe in the 3 Star The 1 Star ranking is based on financial returnsa for therecent quarter, which endexd Dec. 31, 2008. The 3 Star ranking is based on returnws overa three-year period. Each category recognizes the top 10 performinhg money managers for this specific time periord compared to theirpeer group. Crossvault offers customize equity, fixed income and balanced separate-account managemengt services forhigh net-worth individualsz and institutions.
The firm is registered with the Securitieds andExchange Commission. Informa maintains a database of morethan 2,00p0 money managers. The database is designed to help investmentr professionals search for andevaluate managers. “We are pleasedf to receive this recognition for both our equitytand fixed-income portfolios in the midstr of the on-going market turmoil,” Crossvault co-CEO and Chief Investmenrt Officer Laura Ehrenberg-Chesler says. “I thinik that many other investors have been surprised by the volatilit in theirbond holdings, so our excellent fixed-incoms performance has been appreciated by our clients,” Ehrenberg-Chesletr says. Web site: www.crossvault.
com
Wednesday, October 13, 2010
Mattel, Fisher-Price pay $2.3M fine - Charlotte Business Journal:
jabire2389.blogspot.com
million civil penalty for violations of the federaol lead paint banin children’s toys. The civip fine comes after the completed an investigatiojn into the importing and selling of toys with lead painf levels that exceededthe .06 percentr lead by weight limit that is federally According to the which recently crafted the Consumer Product Safety Improvement Act, aimed at tougheningh requirements for lead and phthalates in children’ws products, Mattel imported up to 900,000 non-compliant toys between July 2006 and Septembere 2007. Fisher-Price imported over 1 million non-compliant toys between July 2006 andSeptembe 2007.
Among the toys in question were the popular Sargetoy car, variousx Barbie products and some Go Diego Go toys. Most of the toys that had excessivwe levels of lead were shippede to retail stores for sale tothe public. In a massive toy recall took place where about 95 Matteland Fisher-Pricse toy models were determined to have exceeded the lead Lead can be toxic if ingested by young childrebn and can cause serious health problems. The topiv of lead paint in children’s products has been a hot buttoj issue asof late, with the rolloutr of the controversial CPSIA of 2008.
Toy manufacturers and retailers have said the new regulationaare vague, costly and arbitrary, often requiringf the duplicate testing of products. Some smaller manufacturers say the laws threaten to put them out of On thepolitical Rep. Louise Slaughter, said protecting children has to be thetop “When the toy recall happenecd (in 2007) I called the head of Fisher-Priced and I told him they needed to startt making their toys here again,” Slaughte r said. “We didn’t have these kind of problems before they importerdthe toys.
” This civil penalty, which is the highesf for violations involving importation or distribution of a regulatedc product, is the third highesg of any kind in CPSC history. “These highlhy publicized toy recalls helped spur Congressional action last year to strengthenj CPSC and make even stricter the ban on lead painfon toys,” said CPSC Acting Chairman Thomas “This penalty should serve notice to toy makers that CPSC is committed to the safety of children, to reducing their exposure to lead, and to the implementatioj of the Consumer Product Safety Improvement Act.
” As part of a story featured in our sistet publication, The Buffalo Law Journal , looking at the Consumer Product Safety Improvement Act, which ran prior to the announcement of thesde fines, Fisher-Price declined to provide a representativee to discuss the lead paint regulations. Instead, they issued a writte statementwhich read, in “Mattel is well positioned as it generally designsx its products to meet global Mattel has also been a leader in the efforts of industryu to establish voluntary industry The statement also said that Mattel would continue to comply with the applicablre regulations of the CPSIA.
Mattel was unablew to be reached for commentMonday morning, thouggh a representative said they would have a response later in the day. Despitew agreeing to pay $2.3 million in Mattel and Fisher-Price deny that they knowingly violatedfederal law, as alleged by CPSC
million civil penalty for violations of the federaol lead paint banin children’s toys. The civip fine comes after the completed an investigatiojn into the importing and selling of toys with lead painf levels that exceededthe .06 percentr lead by weight limit that is federally According to the which recently crafted the Consumer Product Safety Improvement Act, aimed at tougheningh requirements for lead and phthalates in children’ws products, Mattel imported up to 900,000 non-compliant toys between July 2006 and Septembere 2007. Fisher-Price imported over 1 million non-compliant toys between July 2006 andSeptembe 2007.
Among the toys in question were the popular Sargetoy car, variousx Barbie products and some Go Diego Go toys. Most of the toys that had excessivwe levels of lead were shippede to retail stores for sale tothe public. In a massive toy recall took place where about 95 Matteland Fisher-Pricse toy models were determined to have exceeded the lead Lead can be toxic if ingested by young childrebn and can cause serious health problems. The topiv of lead paint in children’s products has been a hot buttoj issue asof late, with the rolloutr of the controversial CPSIA of 2008.
Toy manufacturers and retailers have said the new regulationaare vague, costly and arbitrary, often requiringf the duplicate testing of products. Some smaller manufacturers say the laws threaten to put them out of On thepolitical Rep. Louise Slaughter, said protecting children has to be thetop “When the toy recall happenecd (in 2007) I called the head of Fisher-Priced and I told him they needed to startt making their toys here again,” Slaughte r said. “We didn’t have these kind of problems before they importerdthe toys.
” This civil penalty, which is the highesf for violations involving importation or distribution of a regulatedc product, is the third highesg of any kind in CPSC history. “These highlhy publicized toy recalls helped spur Congressional action last year to strengthenj CPSC and make even stricter the ban on lead painfon toys,” said CPSC Acting Chairman Thomas “This penalty should serve notice to toy makers that CPSC is committed to the safety of children, to reducing their exposure to lead, and to the implementatioj of the Consumer Product Safety Improvement Act.
” As part of a story featured in our sistet publication, The Buffalo Law Journal , looking at the Consumer Product Safety Improvement Act, which ran prior to the announcement of thesde fines, Fisher-Price declined to provide a representativee to discuss the lead paint regulations. Instead, they issued a writte statementwhich read, in “Mattel is well positioned as it generally designsx its products to meet global Mattel has also been a leader in the efforts of industryu to establish voluntary industry The statement also said that Mattel would continue to comply with the applicablre regulations of the CPSIA.
Mattel was unablew to be reached for commentMonday morning, thouggh a representative said they would have a response later in the day. Despitew agreeing to pay $2.3 million in Mattel and Fisher-Price deny that they knowingly violatedfederal law, as alleged by CPSC
Tuesday, October 12, 2010
Obama References Rove, Chamber in Effort to Rile Democrats to Action - The Washington Independent
http://www.kasabati.com/article/Credit-Alert--A-New-Scam-Puts-New-Life-In-Old-Debts.html
Obama References Rove, Chamber in Effort to Rile Democrats to Action The Washington Independent With the election drawing near, President Obama is drawing on the concerns of campaign finance reformers in hopes of riling ... |
Sunday, October 10, 2010
Northern Virginia home sales up 5% - Washington Business Journal:
http://www.sexingthepolitical.org/2004/2004/home.html
During the month, 1,803 homes were sold in the which includes the cities of Fairfax and Falls Church as well as the countiee of Fairfaxand Arlington, according to Rockville-based market research firm In the same month in 2008, the number of homes sold was The median sale price of a home in the area fell 7 percentf in May to $375,000, according to D.C. home sales did not do as well last There were 484 units down 9 percent from 533 homes sold in the same monthlast year. The median sale price dropped 10 from $440,000 in May 2008 to $394,950 last Units spent an average of 91 days, or 13 more on the market last month over May 2008.
Unitx on the Northern Virginia market, are being snapped up faster thanlast year. Home are spending an average of 76 days on the or 13 less days than the same period ayear ago. In Fairfaxx County, 1,331 homes were sold in May. That is up 4 percentt compared with ayear ago. The medianj sale price dipped nearly 10 percentto $360,00 last month. In Arlington County, the mediah sale price was up 11 percentto $469,0090 and 239 homes were sold — up nearly 5 percengt from the same month a year ago. Prince William County experienced a 4 percent increasew in sales of753 homes, compared with 724 homexs sold in May 2008. The median sale price was down nearlgy 19 percentto $207,777.
Units spent an average of 78 or 50 less days onthe market, than in May 2008. Princee George’s County home sales were up 28 with 494 units sold last The median sale price was down 21 percentto $224,900, but homes spent, on average, 33 more days on the markef than they did in May 2008. Montgomergy County home sales last montjh totaled874 units. The mediajn sale price was down 13 percent to andhomes spent, on average, two more days on the marke t than they did in May 2008.
During the month, 1,803 homes were sold in the which includes the cities of Fairfax and Falls Church as well as the countiee of Fairfaxand Arlington, according to Rockville-based market research firm In the same month in 2008, the number of homes sold was The median sale price of a home in the area fell 7 percentf in May to $375,000, according to D.C. home sales did not do as well last There were 484 units down 9 percent from 533 homes sold in the same monthlast year. The median sale price dropped 10 from $440,000 in May 2008 to $394,950 last Units spent an average of 91 days, or 13 more on the market last month over May 2008.
Unitx on the Northern Virginia market, are being snapped up faster thanlast year. Home are spending an average of 76 days on the or 13 less days than the same period ayear ago. In Fairfaxx County, 1,331 homes were sold in May. That is up 4 percentt compared with ayear ago. The medianj sale price dipped nearly 10 percentto $360,00 last month. In Arlington County, the mediah sale price was up 11 percentto $469,0090 and 239 homes were sold — up nearly 5 percengt from the same month a year ago. Prince William County experienced a 4 percent increasew in sales of753 homes, compared with 724 homexs sold in May 2008. The median sale price was down nearlgy 19 percentto $207,777.
Units spent an average of 78 or 50 less days onthe market, than in May 2008. Princee George’s County home sales were up 28 with 494 units sold last The median sale price was down 21 percentto $224,900, but homes spent, on average, 33 more days on the markef than they did in May 2008. Montgomergy County home sales last montjh totaled874 units. The mediajn sale price was down 13 percent to andhomes spent, on average, two more days on the marke t than they did in May 2008.
Saturday, October 9, 2010
NATO: terror threat in Europe justifies Afghan war - The Associated Press
vorotintseyqah.blogspot.com
Central Florida News 13 | NATO: terror threat in Europe justifies Afghan war The Associated Press ... terrorists using Afghanistan as a base are still trying to target Europe and that this threat justifies a war that has grown unpopular in many places. ... NATO Commander: New Europe Threat Justifies Afghan War |
Thursday, October 7, 2010
UPS CEO argues against protectionism - Triangle Business Journal:
http://itefforts.com/debt/loan_index-21.php
“Trade is a major force for good, for growth and for Davis said. “The threats are from both economic turmoip and the protectionist impulsesit drives. We must argue that protectionism is the worst response at the worst We can’t let political expediency cloudr global reality.” He called on countries to improvew their response to workers displaced by global trade. “We are going to have to pay more attentionm tothose displaced,” Davis said. “ I see a very encouraging step in that directiohn with the return of the expired Trade Adjustment Assistance Act as part of thestimuluzs package.
With this we can reposition the American workforce and give our workers the skills to stay in theglobalk game.”
“Trade is a major force for good, for growth and for Davis said. “The threats are from both economic turmoip and the protectionist impulsesit drives. We must argue that protectionism is the worst response at the worst We can’t let political expediency cloudr global reality.” He called on countries to improvew their response to workers displaced by global trade. “We are going to have to pay more attentionm tothose displaced,” Davis said. “ I see a very encouraging step in that directiohn with the return of the expired Trade Adjustment Assistance Act as part of thestimuluzs package.
With this we can reposition the American workforce and give our workers the skills to stay in theglobalk game.”
Wednesday, October 6, 2010
AT&T cuts iPhone prices - Houston Business Journal:
http://sc-cottur.org/index.php?option=com_content&view=article&id=84&Itemid=64
The iPhone 3G will sell for $99 to new and qualifyinb customers who sign up fora two-yeafr commitment with voice on data plans. Othe r prices included the iPhone 3G Sat $199 for a 16-gigabyte modelo and $299 for a 32-gigabyte model. Customerds can purchase the iPhone 3G immediateltat AT&T company-owned stores or online. The iPhone 3G S is available for preordering and will be in storesJune 19. The pricer cut came in conjunctionwith AT&T's reaffirmance of its financial guidance for 2009 that targetsw wireless service operating income margins in the low 40 percent Dallas-based AT&T (NYSE: T) said its cost of customee acquisition for iPhone 3G S and the newly pricecd iPhone 3G are expecter to be very similar to the costs associated with the origina iPhone 3G.
In the firsf quarter, AT&T’s iPhone activations totaled morethan 1.6 more than 40% of them for customers who were new to the “iPhone 3G S is the fastest, most powerfupl iPhone yet, and we’re extremely proud to offer it to our customerws on the nation’s fastest 3G network,” said Ralphg de la Vega, president and CEO, AT&Ty Mobility and Consumer Markets. “We’re also pleasedd to offer these innovative phones and plans atincredible values, including free Wi-Fi access at nearly 20,000o hot spots.
”
The iPhone 3G will sell for $99 to new and qualifyinb customers who sign up fora two-yeafr commitment with voice on data plans. Othe r prices included the iPhone 3G Sat $199 for a 16-gigabyte modelo and $299 for a 32-gigabyte model. Customerds can purchase the iPhone 3G immediateltat AT&T company-owned stores or online. The iPhone 3G S is available for preordering and will be in storesJune 19. The pricer cut came in conjunctionwith AT&T's reaffirmance of its financial guidance for 2009 that targetsw wireless service operating income margins in the low 40 percent Dallas-based AT&T (NYSE: T) said its cost of customee acquisition for iPhone 3G S and the newly pricecd iPhone 3G are expecter to be very similar to the costs associated with the origina iPhone 3G.
In the firsf quarter, AT&T’s iPhone activations totaled morethan 1.6 more than 40% of them for customers who were new to the “iPhone 3G S is the fastest, most powerfupl iPhone yet, and we’re extremely proud to offer it to our customerws on the nation’s fastest 3G network,” said Ralphg de la Vega, president and CEO, AT&Ty Mobility and Consumer Markets. “We’re also pleasedd to offer these innovative phones and plans atincredible values, including free Wi-Fi access at nearly 20,000o hot spots.
”
Monday, October 4, 2010
Morris, Bucs Congratulate Rays - Pewter Report
xiwyxucupewox.blogspot.com
Morris, Bucs Congratulate Rays Pewter Report “Congratulations to the Rays,†Morris said. “We're fired up about what they were able to do last week. We were able to enjoy that in the bye week. ... |
Sunday, October 3, 2010
Dow AgroSciences, Wageningen UR Enter into Agreement to Use EXZACT(TM ... - MarketWatch (press release)
burwellmitubaes1369.blogspot.com
Dow AgroSciences, Wageningen UR Enter into Agreement to Use EXZACT(TM ... MarketWatch (press release) Within Wageningen UR, nine research institutes -- both specialised and applied -- have joined forces with Wageningen University and Van Hall Larenstein ... |
Friday, October 1, 2010
Big-producing broker Trindle exits Merrill for Morgan Stanley - Business Courier of Cincinnati:
budimirukaovyril.blogspot.com
Dean Trindle and his team of nine peopld left the downtown office of on Friday and heades down the streetto . Trindle was the second-largest revenue produced at Cincinnati’s huge Merrill Lynch operation and rankedd in the top20 nationally, said Greg complex manager for Merrill Lynch’s Greater Cincinnati and Dayton Trindle told the Business Courier in 2004 he managec $500 million in assets. That’sw down somewhat, Achten said, aftert the stock market tanked in thepast year. Neither Trindle nor Morgan Stanley’s local complex manager, Mike returned phone calls. Achtehn wouldn’t comment on the reasons for Trindle’s departure.
But New York-based Merrill Lynch has had a string of departures at the top sincew its acquisition last month by When ownership and top managementurns over, some adviserw leave. The move caused a wave in the investmengtadvisory community. “It’s a huge deal,” said Richared Curry, branch manager of brokerage firm ’ local in Kenwood. “He’s certainly one of the top producere in the city and atMerrilp Lynch.” Achten downplayed the impact of Trindle’s departure on his firm and said it won’g lead to any layoffs or major “It’s meaningful; he was a meaningful Achten said. “But it won’yt affect us substantially.
” He pointed out Trindle’s productiomn represented less than 7 percenty of theCincinnati complex’s business. The local offices encompasses three Dayton-area offices that recently were addedto Achten’xs realm. That makes the Greater Cincinnati officethe second-largesr in Merrill’s huge system of 120 But Curry, who used to manage Gradisoh & Co.’s downtown office, said Trindle’s exit will have a big impac on the local Merrill operation. “Thse office he left has got a huge hole in Curry said. “They have lost an incredible amounof revenues.” Trindle built a niche focusingv on retirees and providing strong customer service.
He had been with Merrilll for 29 years. He set a trend 20 yearx ago when he becamethe nation’ s first Merrill Lynch broker to switch from getting paid a commissionm on trades to earning money on a fee While Morgan Stanley is adding a big-time it also likely had to pay a prett penny to lure Trindle, Curry said. it’s probably worth it. “It’s a plum for Morgan he said. Clients tend to follow the advisefr to anew firm, Curry He estimated about 90 percent typically make the Their relationship is almost always with the adviserd and not with the firm.
The jobs scen has been dour, and it’s not likely to pick up In fact, analyst Vishnu Lekraj figure s unemployment, recently at 7.6 percent, could hit 10 percen by the timeit peaks. And that could easilu take untilnext year, he said in a recent report. Even so, Lekraj favors the prospectz of Mason-based corporate uniform and servicesprovider That’s in spitd of Cintas’ recent quarterly earnings miss, afterd which it yanked its full-year But Lekraj said that after Cintas’ stock plunged by one-third over the past five it has created a significant opportunity for investors. It closed at $22 Feb. 17.
“Wre still believe Cintas will be able to offer greatg value over the long run due to its stronghcompetitive position,” Lekraj said in the report.
Dean Trindle and his team of nine peopld left the downtown office of on Friday and heades down the streetto . Trindle was the second-largest revenue produced at Cincinnati’s huge Merrill Lynch operation and rankedd in the top20 nationally, said Greg complex manager for Merrill Lynch’s Greater Cincinnati and Dayton Trindle told the Business Courier in 2004 he managec $500 million in assets. That’sw down somewhat, Achten said, aftert the stock market tanked in thepast year. Neither Trindle nor Morgan Stanley’s local complex manager, Mike returned phone calls. Achtehn wouldn’t comment on the reasons for Trindle’s departure.
But New York-based Merrill Lynch has had a string of departures at the top sincew its acquisition last month by When ownership and top managementurns over, some adviserw leave. The move caused a wave in the investmengtadvisory community. “It’s a huge deal,” said Richared Curry, branch manager of brokerage firm ’ local in Kenwood. “He’s certainly one of the top producere in the city and atMerrilp Lynch.” Achten downplayed the impact of Trindle’s departure on his firm and said it won’g lead to any layoffs or major “It’s meaningful; he was a meaningful Achten said. “But it won’yt affect us substantially.
” He pointed out Trindle’s productiomn represented less than 7 percenty of theCincinnati complex’s business. The local offices encompasses three Dayton-area offices that recently were addedto Achten’xs realm. That makes the Greater Cincinnati officethe second-largesr in Merrill’s huge system of 120 But Curry, who used to manage Gradisoh & Co.’s downtown office, said Trindle’s exit will have a big impac on the local Merrill operation. “Thse office he left has got a huge hole in Curry said. “They have lost an incredible amounof revenues.” Trindle built a niche focusingv on retirees and providing strong customer service.
He had been with Merrilll for 29 years. He set a trend 20 yearx ago when he becamethe nation’ s first Merrill Lynch broker to switch from getting paid a commissionm on trades to earning money on a fee While Morgan Stanley is adding a big-time it also likely had to pay a prett penny to lure Trindle, Curry said. it’s probably worth it. “It’s a plum for Morgan he said. Clients tend to follow the advisefr to anew firm, Curry He estimated about 90 percent typically make the Their relationship is almost always with the adviserd and not with the firm.
The jobs scen has been dour, and it’s not likely to pick up In fact, analyst Vishnu Lekraj figure s unemployment, recently at 7.6 percent, could hit 10 percen by the timeit peaks. And that could easilu take untilnext year, he said in a recent report. Even so, Lekraj favors the prospectz of Mason-based corporate uniform and servicesprovider That’s in spitd of Cintas’ recent quarterly earnings miss, afterd which it yanked its full-year But Lekraj said that after Cintas’ stock plunged by one-third over the past five it has created a significant opportunity for investors. It closed at $22 Feb. 17.
“Wre still believe Cintas will be able to offer greatg value over the long run due to its stronghcompetitive position,” Lekraj said in the report.
Subscribe to:
Posts (Atom)