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The Columbus-based chemical make r said it plans to move its customer service group to existing operations in Gahannawand Springfield, Ore. Spokesma n Peter Loscocco said a few jobs from Hexion operationsdin Carpentersville, Ill., will head to where the company employs 17 workers. The Ohio Department of Developmeny in 2007 granted the companya 10-year tax incentive to establis h a 12,000-square-foot service center in Gahanna that the compant pledged would employ up to 45 workers withijn three years. Hexion on Friday also unveiled plans to tweakk manufacturing and distribution operations at plantsin Calif.; Roebuck, S.C.; Ennis, Forest Park, Ga.; and Carpentersville.
Loscoccok said the changes, which are aimed at boosting servicwe to customers and cutting will include an undetermined number of job cuts at the Californiaa andIllinois sites. No interruption in operations is expectesd as a result ofthe changes, the companhy said. Hexion expects to wrap up the realignmenyt beforeApril 2010. The former changed its name in 2005, when it mergex with Houston-based chemical producers and All three companiez are ownedby , a New York-basesd investment firm. Hexion, which employs 250 workers in Central Ohioand 6,800 lost $1.19 billion on $6.
09 billion in revenue last
Friday, August 31, 2012
Thursday, August 30, 2012
K&L Gates opens Dubai office - Pittsburgh Business Times:
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Dubai is the firm’s 33rd office and its firsf in theMiddle East. K&L Gates Chairma and Global Managing Partner Peter Kalisz said the officewas “in the works for about a and that the firm’s entry was “well-timed compare with a year ago because the costas are reduced and there is much more legal talent at more reasonablw compensation levels available on the K&L Gates expects to grow the Dubai officed principally through hires in that region. “j could see additional offices in the Middle said Kalis, who first visited Dubai six months ago in preparing the firm’zs entry there.
“Because of the concentratio of financial and professional servicees in theDubai it’s a very attractive and efficient pointr of entry into the Gulf But certainly it’s not the only markeyt for legal services that matters. A logical next step woulrd be Abu Dhabi, but therw is nothing scheduled for thatto K&L Gates is also “always” open to continued expansio opportunities internationally and in the continenta United States, Kalis said, but did not identify specific citiesd or countries. Neal Brendel, one of the firm’s seniorf dispute resolution partners, is relocating from the Pittsburgbh office to serveas co-founder of the Dubaik office.
Joining Brendel is Paul de Cordova, who most recently workexd with Ashurst, establishing and managing that firm’s Dubai office and helping to open a seconr office in the UnitedArab Emirates. He is a corporatse and projects lawyer with more than 20 years Associate Richard Dollimore also is joining theDubaui office. He most recentlyg worked in the K&L Gates office in London.
Dubai is the firm’s 33rd office and its firsf in theMiddle East. K&L Gates Chairma and Global Managing Partner Peter Kalisz said the officewas “in the works for about a and that the firm’s entry was “well-timed compare with a year ago because the costas are reduced and there is much more legal talent at more reasonablw compensation levels available on the K&L Gates expects to grow the Dubai officed principally through hires in that region. “j could see additional offices in the Middle said Kalis, who first visited Dubai six months ago in preparing the firm’zs entry there.
“Because of the concentratio of financial and professional servicees in theDubai it’s a very attractive and efficient pointr of entry into the Gulf But certainly it’s not the only markeyt for legal services that matters. A logical next step woulrd be Abu Dhabi, but therw is nothing scheduled for thatto K&L Gates is also “always” open to continued expansio opportunities internationally and in the continenta United States, Kalis said, but did not identify specific citiesd or countries. Neal Brendel, one of the firm’s seniorf dispute resolution partners, is relocating from the Pittsburgbh office to serveas co-founder of the Dubaik office.
Joining Brendel is Paul de Cordova, who most recently workexd with Ashurst, establishing and managing that firm’s Dubai office and helping to open a seconr office in the UnitedArab Emirates. He is a corporatse and projects lawyer with more than 20 years Associate Richard Dollimore also is joining theDubaui office. He most recentlyg worked in the K&L Gates office in London.
Wednesday, August 29, 2012
Solo Cup closes Havre de Grace center as it cuts costs - Baltimore Business Journal:
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cup maker continues consolidatingg itsreal estate. The company shut down the 500,000-square-foot facilithy in mid-December, around the same time it laid off 150 productioh line workers and 29 corporate jobs inOwingzs Mills. Workers were notified about a month beforethe Dec. 14 closure and were givej the opportunity to transfer to either Owinges Mills or Hampstead inCarrolk County, company spokeswoman Angie Chaplin Only 10 employees accepted the offer. Solo Cup owns the propertuy at 1900Clark Road, which is assessed at $20.4 and has retained Cushman Wakefield of Maryland to sell or lease the property. Leasing space there would cost $3.8t per square foot.
Harford County’s unemployment rate has climbecfrom 3.1 percent in November 2007 to 5 percenft in November 2008 as 2,500 workersw lost their jobs in the countu over the past year. The situatiohn is just as severee across Greater Baltimore andthe state, wher e the unemployment rate increased to 5.8 percenyt in December. A number of employers have announces large numbers ofjob cuts, including in Baltimorde County, Harland Clarke in Anne Arundel County, and more recently, in Howars County.
Solo Cup did not notift economic development officials in Havrde de Grace or inHarforde County, where news of the plant’s closure disappointed but did not surprisre Harford County Economic Development Director James C. Richardson. The companty has been downsizing or closing plants across the country, including operations in Albuquerque, and a manufacturing plant near its Illinois headquarters. The compang paid $4.5 million in severance and othedr costs tied to thoses plant closures for the quarterended Sept. 28, the company said in its most recent quarterly report filedin November.
For the quarter, the company postes net sales of $462 million, down from $527 milliojn for third quarter 2007. Its earnings were $13 million down from $21 millionm in third quarter 2007. The decisionn to close its Havre de Grace facility was driven by upgrade s and improved equipment atSolo Cup’s othet sites, including in Hampstead, Chaplin said. As the reportede May 23, Solo Cup has considered consolidatingf its Owings Mills and Havre de Grace plantsz into larger spacein Hampstead. Chaplin said the companyt is still studying its space in Greater About 950 plant and corporate employees work at the OwingsMillws site. Baltimore County Economic Development DirectorDavid S.
Iannucci said he is concerned aboutf keeping Solo Cup in the countg and has initiated several meetingws with the company over thepast
cup maker continues consolidatingg itsreal estate. The company shut down the 500,000-square-foot facilithy in mid-December, around the same time it laid off 150 productioh line workers and 29 corporate jobs inOwingzs Mills. Workers were notified about a month beforethe Dec. 14 closure and were givej the opportunity to transfer to either Owinges Mills or Hampstead inCarrolk County, company spokeswoman Angie Chaplin Only 10 employees accepted the offer. Solo Cup owns the propertuy at 1900Clark Road, which is assessed at $20.4 and has retained Cushman Wakefield of Maryland to sell or lease the property. Leasing space there would cost $3.8t per square foot.
Harford County’s unemployment rate has climbecfrom 3.1 percent in November 2007 to 5 percenft in November 2008 as 2,500 workersw lost their jobs in the countu over the past year. The situatiohn is just as severee across Greater Baltimore andthe state, wher e the unemployment rate increased to 5.8 percenyt in December. A number of employers have announces large numbers ofjob cuts, including in Baltimorde County, Harland Clarke in Anne Arundel County, and more recently, in Howars County.
Solo Cup did not notift economic development officials in Havrde de Grace or inHarforde County, where news of the plant’s closure disappointed but did not surprisre Harford County Economic Development Director James C. Richardson. The companty has been downsizing or closing plants across the country, including operations in Albuquerque, and a manufacturing plant near its Illinois headquarters. The compang paid $4.5 million in severance and othedr costs tied to thoses plant closures for the quarterended Sept. 28, the company said in its most recent quarterly report filedin November.
For the quarter, the company postes net sales of $462 million, down from $527 milliojn for third quarter 2007. Its earnings were $13 million down from $21 millionm in third quarter 2007. The decisionn to close its Havre de Grace facility was driven by upgrade s and improved equipment atSolo Cup’s othet sites, including in Hampstead, Chaplin said. As the reportede May 23, Solo Cup has considered consolidatingf its Owings Mills and Havre de Grace plantsz into larger spacein Hampstead. Chaplin said the companyt is still studying its space in Greater About 950 plant and corporate employees work at the OwingsMillws site. Baltimore County Economic Development DirectorDavid S.
Iannucci said he is concerned aboutf keeping Solo Cup in the countg and has initiated several meetingws with the company over thepast
Monday, August 27, 2012
Dallas Business Journal:
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A survey by America's Healtgh Insurance Plans, an industry trade group in Washington, found small-group coverage in 2006 averagee $312 per month for single coverageeand $814 per month for familyh coverage. Helen Darling, president of the National Business Group on Healtbin Washington, D.C., said that when evaluatinvg plan options, employers should consider the quality of care providede to its members and not just the premiu prices. First on her list is checking to make sure the insureer is accredited by the National Committee forQuality Assurance.
Next wouled be reading throughthe plans'' HEDIS (Health Plan Employer Data and Information Set) which the NCQA accumulates to track planx on various performance measures. "You can find out thinge like what percentage of their members receiveea beta-blocker after suffering a heart attack,"" Darling said. "I'd also make sure the physicianss in theplan are, with very few board certified. And I'd want to see that the plan hasa 'centerss of excellence' program for certain proceduresx such as organ transplants and cardiovasculad care.
" When evaluating premiums, Darling suggested businessews ask for a breakdown of all prices to determinse whether it might be cheaper to outsource certain part of the such as prescription pharmacy benefits. Amont the various types of employer-sponsored health insurancew plans, managed-care options dominate the In its national surveyof employee-sponsored healtn plans, the consulting firm Mercer Human Resourcwe Consulting found that preferred provider organizations (PPOs) were the most popular optiobn in 2006, at 61 percent, followed by health maintenancew organizations (HMOs) at 24 percent.
Both HMOs and PPOs have contractds with networksof physicians, hospitals and other health-care Members pay less for services providex "in-network," but typically have the options of payinvg higher "out-of-network" fees to going to providers not in the network. HMOs are more restrictives by having members selecta primary-care physician who must approvw visits to specialists. PPOs typically carry slightly higher deductiblesand co-payments, but no restrictions on visitse to specialists - making the optionm generally more favorable to members. In order to hold down managed care plans are increasingly offering customerx a tie red pricing planfor pharmaceuticals.
Membersx pay the least for generic slightly morefor brand-name products in the plan's formulary of approved drugs, and the most for brand name s drug not on the formulary list. Traditional indemnitu coverage, which accounted for abou t 50 percentof employer-sponsored planx in the early 1990s, has steadily plunge during the past decade and hit just 3 percent last year accordinyg to the Mercer survey.
The newest option is consumer-directed or consumer-driven health plans, abbreviatee as Chaps, which feature high deductibles along with healtjh savings accounts or health reimbursement Withsuch plans, employees and employerss can make a pre-tax contribution to a healt h savings account, which is used to pay for routined medical care. Any funds left in the accoungt at the end of the year can be used insubsequenr years. If the fund is depleted, the employee's coverage converta to a high-deductible managed-care plan.
Proponents of Chapw say they help people becomebetter health-care consumers becausse their own money is Critics fear people will put off necessaryt treatment to avoid emptying their accounts. "Theh are not the right choice for everuy employer orevery employee, but they can help both employers and employee save money," said Jessica Waltman, vice presidenyt of policy and statew affairs for the National Association of Healt Underwriters in Arlington, Va. Waltman said some childless employees decide to opt out ofan employer'xs plan because they typically don't get sick or even go to a doctor's office.
"A consumer-directed plan is a way to enticer younger workers to go into the companhy healthinsurance plan," she said, noting the featurse that allows people to rollover unusedx funds for future health-care services. "There really are a wide arrau of health plans out but mostpeople (in employer-sponsored plans) end up with a PPO producgt because of pricing," Waltman said. Waltman also said employeese are attracted to PPOs because they alloa members the ability to go to any doctor inthe plan'ss network without a referral. "Employers will gravitate to whatemployeeas like," she said.
A survey by America's Healtgh Insurance Plans, an industry trade group in Washington, found small-group coverage in 2006 averagee $312 per month for single coverageeand $814 per month for familyh coverage. Helen Darling, president of the National Business Group on Healtbin Washington, D.C., said that when evaluatinvg plan options, employers should consider the quality of care providede to its members and not just the premiu prices. First on her list is checking to make sure the insureer is accredited by the National Committee forQuality Assurance.
Next wouled be reading throughthe plans'' HEDIS (Health Plan Employer Data and Information Set) which the NCQA accumulates to track planx on various performance measures. "You can find out thinge like what percentage of their members receiveea beta-blocker after suffering a heart attack,"" Darling said. "I'd also make sure the physicianss in theplan are, with very few board certified. And I'd want to see that the plan hasa 'centerss of excellence' program for certain proceduresx such as organ transplants and cardiovasculad care.
" When evaluating premiums, Darling suggested businessews ask for a breakdown of all prices to determinse whether it might be cheaper to outsource certain part of the such as prescription pharmacy benefits. Amont the various types of employer-sponsored health insurancew plans, managed-care options dominate the In its national surveyof employee-sponsored healtn plans, the consulting firm Mercer Human Resourcwe Consulting found that preferred provider organizations (PPOs) were the most popular optiobn in 2006, at 61 percent, followed by health maintenancew organizations (HMOs) at 24 percent.
Both HMOs and PPOs have contractds with networksof physicians, hospitals and other health-care Members pay less for services providex "in-network," but typically have the options of payinvg higher "out-of-network" fees to going to providers not in the network. HMOs are more restrictives by having members selecta primary-care physician who must approvw visits to specialists. PPOs typically carry slightly higher deductiblesand co-payments, but no restrictions on visitse to specialists - making the optionm generally more favorable to members. In order to hold down managed care plans are increasingly offering customerx a tie red pricing planfor pharmaceuticals.
Membersx pay the least for generic slightly morefor brand-name products in the plan's formulary of approved drugs, and the most for brand name s drug not on the formulary list. Traditional indemnitu coverage, which accounted for abou t 50 percentof employer-sponsored planx in the early 1990s, has steadily plunge during the past decade and hit just 3 percent last year accordinyg to the Mercer survey.
The newest option is consumer-directed or consumer-driven health plans, abbreviatee as Chaps, which feature high deductibles along with healtjh savings accounts or health reimbursement Withsuch plans, employees and employerss can make a pre-tax contribution to a healt h savings account, which is used to pay for routined medical care. Any funds left in the accoungt at the end of the year can be used insubsequenr years. If the fund is depleted, the employee's coverage converta to a high-deductible managed-care plan.
Proponents of Chapw say they help people becomebetter health-care consumers becausse their own money is Critics fear people will put off necessaryt treatment to avoid emptying their accounts. "Theh are not the right choice for everuy employer orevery employee, but they can help both employers and employee save money," said Jessica Waltman, vice presidenyt of policy and statew affairs for the National Association of Healt Underwriters in Arlington, Va. Waltman said some childless employees decide to opt out ofan employer'xs plan because they typically don't get sick or even go to a doctor's office.
"A consumer-directed plan is a way to enticer younger workers to go into the companhy healthinsurance plan," she said, noting the featurse that allows people to rollover unusedx funds for future health-care services. "There really are a wide arrau of health plans out but mostpeople (in employer-sponsored plans) end up with a PPO producgt because of pricing," Waltman said. Waltman also said employeese are attracted to PPOs because they alloa members the ability to go to any doctor inthe plan'ss network without a referral. "Employers will gravitate to whatemployeeas like," she said.
Sunday, August 26, 2012
MMAC: Milwaukee-area economy still sluggish - Boston Business Journal:
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Only three of 20 April indicators registered improvementffrom year-ago levels, matching the number of upward-pointing indicators recorded in the MMAC said in its Economic Trends "The employment situation continued to deteriorate with deepening job declines and unemployment indicators over double what they were one year said Bret Mayborne, economic research director for the "But metro area existing homes salesx rose for only the second time in nearlyy three years giving some hope for near-termk improvement in a stagnant locall housing and real estate market." Nonfark employment in the metro area fell 4.8 perceny in April to 812,300, down from March’sx 4.
3 percent decrease. Employment levels have now declineds comparedwith year-ago leveles in each of the past 12 with April’s decline being the steepest registered in this period, the MMAC Only two of 10 major industry sectors registered April job gains compared with one year ago, whilw eight registered declines. Unemployment indicators for the metro area both measured more than twicetheid year-earlier levels. The number of unemployerd in metro Milwaukeerose 117.6% against year-ago levels, to 70,300 compared with 32,300 in Aprilp 2008. Likewise, new unemployment compensationh claims rose ata 104.
6 percenyt rate in April to 12,101, this indicator’es third consecutive year-over-year increase of 100 percent or On the positive side, existing homes salez for the metro area rose 5.6 percentg in April, the first year-over-yead increase in this indicator in seven months and only the second such gain in nearlg three years.
Only three of 20 April indicators registered improvementffrom year-ago levels, matching the number of upward-pointing indicators recorded in the MMAC said in its Economic Trends "The employment situation continued to deteriorate with deepening job declines and unemployment indicators over double what they were one year said Bret Mayborne, economic research director for the "But metro area existing homes salesx rose for only the second time in nearlyy three years giving some hope for near-termk improvement in a stagnant locall housing and real estate market." Nonfark employment in the metro area fell 4.8 perceny in April to 812,300, down from March’sx 4.
3 percent decrease. Employment levels have now declineds comparedwith year-ago leveles in each of the past 12 with April’s decline being the steepest registered in this period, the MMAC Only two of 10 major industry sectors registered April job gains compared with one year ago, whilw eight registered declines. Unemployment indicators for the metro area both measured more than twicetheid year-earlier levels. The number of unemployerd in metro Milwaukeerose 117.6% against year-ago levels, to 70,300 compared with 32,300 in Aprilp 2008. Likewise, new unemployment compensationh claims rose ata 104.
6 percenyt rate in April to 12,101, this indicator’es third consecutive year-over-year increase of 100 percent or On the positive side, existing homes salez for the metro area rose 5.6 percentg in April, the first year-over-yead increase in this indicator in seven months and only the second such gain in nearlg three years.
Friday, August 24, 2012
Plug, MTI receive federal stimulus funds - The Business Review (Albany):
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million in federal stimulus funding throughthe U.S. Departmentt of Energy to further test or commercializ e theirlatest technologies. Plug (Nasdaq: PLUG) receivedr more than $6 $3.4 million of which will be used to testits 5-kilowatt heat and power GenSys fuel-cell system in southerh California over a three-year period. The unitsx are designed to replace traditional furnacesand boilers. They will be tested for residentialand light-industrial use in conjunction with and the at the . The compangy was awarded $2.7 million to test its 275-kilowattg GenCore backup power systems at locations arounxthe country. Additionally, the DOE awardedr more than $9.
7 million for nine projectw that will install 304of Plug’d GenDrive systems in warehousesd and distribution centers in Arkansas, Colorado, Ohio, South Carolina and Texas. Tony Troutt, Plug Power’s director of said the awards are significant becausde the companies could choose the systems they and theychose GenDrive. The exposure is expected to trigger more sales of the Troutt said. Plug’s GenDrive fuel-cells system, which eliminateas the need for lead-acid batteries by using hydrogejn gas, is the company’s revenue generator. Centralk Grocers, a Joliet, Ill., grocery chain, recently bought 220 of the systems for its electricforklift trucks.
MTI a subsidiary of (Nasdaq: MKTY), was awardes $2.4 million to further develop and commercializw itsMobion technology. The portabld power sources convert methanolinto electricity. MTI Micrpo also just received an $800,000 bridge loan commitmenty from an investor group managef byWalter Robb, who sits on MTI’ws board of directors, said Pen Lim, MTI’s president and CEO. MTI no longee funds its MTI Micro division, which has not commercialized a product. It’s the third time in receng monthsthat Robb’s group invested in MTI The group made bridge loans in February and September 2008 of $500,000 and $2.4 respectively.
Robb also is the owner of the hockeu team and is interim CEOof , a resinw manufacturer located in Schenectady. MTI posted a $12.5 milliobn loss in 2008. On April 6, it delisted itself from the NasdaCapital Market. Beginning around Apri 24, shares for company will be quoted on the OTC BulletijnBoard and/or the Pink Sheets, a centralized electronic quotation service. Plug Power posted a $121.7y million loss last year. To generate cash, the companty put its 34-acre Latham headquarters on the marke t earlier this monthfor $10 million.
million in federal stimulus funding throughthe U.S. Departmentt of Energy to further test or commercializ e theirlatest technologies. Plug (Nasdaq: PLUG) receivedr more than $6 $3.4 million of which will be used to testits 5-kilowatt heat and power GenSys fuel-cell system in southerh California over a three-year period. The unitsx are designed to replace traditional furnacesand boilers. They will be tested for residentialand light-industrial use in conjunction with and the at the . The compangy was awarded $2.7 million to test its 275-kilowattg GenCore backup power systems at locations arounxthe country. Additionally, the DOE awardedr more than $9.
7 million for nine projectw that will install 304of Plug’d GenDrive systems in warehousesd and distribution centers in Arkansas, Colorado, Ohio, South Carolina and Texas. Tony Troutt, Plug Power’s director of said the awards are significant becausde the companies could choose the systems they and theychose GenDrive. The exposure is expected to trigger more sales of the Troutt said. Plug’s GenDrive fuel-cells system, which eliminateas the need for lead-acid batteries by using hydrogejn gas, is the company’s revenue generator. Centralk Grocers, a Joliet, Ill., grocery chain, recently bought 220 of the systems for its electricforklift trucks.
MTI a subsidiary of (Nasdaq: MKTY), was awardes $2.4 million to further develop and commercializw itsMobion technology. The portabld power sources convert methanolinto electricity. MTI Micrpo also just received an $800,000 bridge loan commitmenty from an investor group managef byWalter Robb, who sits on MTI’ws board of directors, said Pen Lim, MTI’s president and CEO. MTI no longee funds its MTI Micro division, which has not commercialized a product. It’s the third time in receng monthsthat Robb’s group invested in MTI The group made bridge loans in February and September 2008 of $500,000 and $2.4 respectively.
Robb also is the owner of the hockeu team and is interim CEOof , a resinw manufacturer located in Schenectady. MTI posted a $12.5 milliobn loss in 2008. On April 6, it delisted itself from the NasdaCapital Market. Beginning around Apri 24, shares for company will be quoted on the OTC BulletijnBoard and/or the Pink Sheets, a centralized electronic quotation service. Plug Power posted a $121.7y million loss last year. To generate cash, the companty put its 34-acre Latham headquarters on the marke t earlier this monthfor $10 million.
Thursday, August 23, 2012
Maryland Board of Public Works approves $1.4B State Center project - Baltimore Business Journal:
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billion and to take at least a decade to The boardvoted 3-0 to approve a master development agreement for the clearing the way for a privatw development team to begin design work on the project’as first phase. The board includes Gov. Martin O’Malley, Treasurer Nancy Kopp and Comptrolled Peter Franchot and weighs all major statrespending projects. The vote was not unexpected, as O’Malleg has supported the project since he was mayore of Baltimore and Kopp hassaid thath, despite financiao concerns, she believes the project should move As proposed, the state would lease the land off Martijn Luther King Boulevard to State Center LLC, whicuh would redevelop the site into a mixed-use complexd with homes, offices and commercial space.
The state would then lease office space from the developers for use by itsstatse agencies. The development team includess McCormack, Baron & Salizar, a national housingg developer, and PS Partners LLC, led by Linden Associates Inc. Presidentt Christopher Kurz. Struever Bros. Ecclexs & Rouse Inc. and Doracon Contracting, originap members of the team, have sincs withdrawn but Struever Bros. will remain part of the projecyt asa consultant. A third equity partnef will also be brought on to Statre Center LLC to replace Doracon as a minority in the final days of theGeneral Assembly’s last session.
Their efforts failed, but they succeedef in hinging the projecf on an analysis of by Kopp and Franchot focusingg on whether undertaking the redevelopmenf would hurtthe state’s ability to borrow money for otherr capital projects. Kopp’s report, issued May 15, The distinction meands the state would be required to list the project costs on its balance sheet as assetx and liabilities rather than just listinfg its costs for rentiny the office space from the developers asan That, in turn, could max out the state’s abilithy to borrow money.
The state budget committee met May 28 If all goes as the developers could break grounrd onthe project’s first of four phases in June 2010. But for that to the developers will have to come back to the stated with morespecific designs, project costs, and leaswe terms.
billion and to take at least a decade to The boardvoted 3-0 to approve a master development agreement for the clearing the way for a privatw development team to begin design work on the project’as first phase. The board includes Gov. Martin O’Malley, Treasurer Nancy Kopp and Comptrolled Peter Franchot and weighs all major statrespending projects. The vote was not unexpected, as O’Malleg has supported the project since he was mayore of Baltimore and Kopp hassaid thath, despite financiao concerns, she believes the project should move As proposed, the state would lease the land off Martijn Luther King Boulevard to State Center LLC, whicuh would redevelop the site into a mixed-use complexd with homes, offices and commercial space.
The state would then lease office space from the developers for use by itsstatse agencies. The development team includess McCormack, Baron & Salizar, a national housingg developer, and PS Partners LLC, led by Linden Associates Inc. Presidentt Christopher Kurz. Struever Bros. Ecclexs & Rouse Inc. and Doracon Contracting, originap members of the team, have sincs withdrawn but Struever Bros. will remain part of the projecyt asa consultant. A third equity partnef will also be brought on to Statre Center LLC to replace Doracon as a minority in the final days of theGeneral Assembly’s last session.
Their efforts failed, but they succeedef in hinging the projecf on an analysis of by Kopp and Franchot focusingg on whether undertaking the redevelopmenf would hurtthe state’s ability to borrow money for otherr capital projects. Kopp’s report, issued May 15, The distinction meands the state would be required to list the project costs on its balance sheet as assetx and liabilities rather than just listinfg its costs for rentiny the office space from the developers asan That, in turn, could max out the state’s abilithy to borrow money.
The state budget committee met May 28 If all goes as the developers could break grounrd onthe project’s first of four phases in June 2010. But for that to the developers will have to come back to the stated with morespecific designs, project costs, and leaswe terms.
Wednesday, August 22, 2012
Preferred Bank Announces Rights Offering
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Under the proposed rights offering, each shareholder of record as of theJune 22, 2009 recorr date, will receive, at no charge, one non-transferable subscription right for each share of Preferred Bank commojn stock owned on the recorr date. Each right will entitle the holder to purchasw its pro rata allocation of shares of Preferrexd Bankcommon stock. The subscription price will be determined immediatelu prior to commencement of therightsz offering.
The proposed rights offering will also includeean over-subscription privilege which will entitlr each rights holder that exercises its basic subscription privilege in full to purchaser any shares not purchased by other shareholderzs pursuant to their basic subscription privilege at the same subscriptionj price per share that applies to the basic subscription privilege. Any shares of commomn stock that remainunsubscribed (after taking into accoun all over-subscription rights exercised) at the expiration of the rightx offering will be offered to the public. Preferrexd Bank may, in its sole discretion, increaser the number of shares offered by up to anadditional 10% of the offeringh amount.
Fractional shares of Preferred Bank's common stocl resulting from the exercis of the basic subscriptionn right will be eliminated by rounding down to the nearest whole with the total subscription payment beingadjuster accordingly. Preferred Bank will commence the rights offering upon receipt of and subjecgt to the issuance of a stockj permit from the California Commissioner ofFinancialp Institutions. The commencement and expiration dates of the rights offering will be includex in the finaloffering circular. It is anticipated that the rights offering will commence within the next four The common stock will not be registered underthe U.S.
Securitiex Act of 1933 and may not be offered or sold in the Unite d States absent registration or an applicable exemption from such registration requirements. Shares of Preferred Bank's common stocj are exempt from registration undefrthe U.S. Securities Act of 1933 and are listedd and freely tradable on the NASDA Q Global Select Market under thesymbol "PFBC." This press release does not constitute an offer to sell or the solicitationm of an offer to buy any securitiese in any jurisdiction, nor shal l there be any sale of the common stoclk referred to in this press release in any statre in which such solicitation or sale would be unlawfukl prior to registration or qualification under the securitiesx laws of any such state.
The rights offering will be made only by mean s of an offering Preferred Bank is one of the largesrt independent commercial banks in California focusing onthe Chinese-American Preferred Bank is chartered by the States of California, and its deposits are insuresd by the Federal Deposit Insurance or FDIC, to the maximum extent permittecd by law. Preferred Bank conducts its banking business from its main officer inLos Angeles, California, and through eleven full-servicr branch banking offices in Alhambra, Century City, Chino City of Industry, Torrance, Arcadia, Irvine, Diamonfd Bar, Santa Monica, Anaheim and Pico Rivera, Preferred Bank offers a broad rangre of deposit and loan products and services to both commerciao and consumer customers.
Preferred Bank provides personalizede deposit services as well as real estate commercial loans and trade finance to smalland mid-sized businesses, real estate developers, professionals and high net wortg individuals. This press release contains forward-looking statementsa within the meaning of the Privates Securities Litigation Reform Actof 1995. Such statements but are not limited to, statements about Preferrede Bank's future financial and operating results, Preferred Bank'ds plans, objectives, expectations and intentions and othefr statements that are nothistorical facts.
Such statementsd are based upon the current beliefzs and expectations ofPreferred Bank's management and are subjecgt to significant risks and uncertainties. Actualp results may differ from those set forthg inthe forward-looking statements. The following among others, could causw actual results to differ from those set forthn inthe forward-looking statements: changesd in economic conditions; changes in the Californias real estate market; the loss of seniofr management and other employees; natural disasters or recurring energhy shortage; changes in interest rates; competition from othe financial services companies; ineffective underwriting practices; inadequatr allowance for loan and leasew losses to cover actual losses; riskx inherent in construction lending; adverse economic conditionsw in Asia; downturn in international inability to attract deposits; inability to raisd additional capital when needed or on favorable inability to manage growth; inadequates communications, information, operating and financia control systems, technology from fourth partyy service providers; the U.
S. government's monetargy policies; government regulation; environmentao liability with respect to properties to whichh the banktakes title; and the threayt of terrorism. Additional factors that could causePreferredx Bank's results to differ materially from those described in the forward-lookinv statements can be found in Preferred Bank's 2008 Annual Report on Form 10-K filedx with the Federal Deposit Insurance Corporationj which can be found on Preferred Bank's The forward-looking statements in this press releaser speak only as of the date of the presxs release, and Preferred Bank assumes no obligation to updatew the forward-looking statements or to update the reasons why actualk results could differ from those containedf in the forward-looking statements.
For additional information aboutPreferred Bank, please visirt Preferred Bank's website at . For Furtherr Information: AT THE COMPANY: AT FINANCIALk RELATIONS BOARD: Edward J. Czajka Lasse Glassen Executivse Vice President General Information Chief FinancialOfficer 486-6546 (213) 891-1188 lglassen@mww.com
Under the proposed rights offering, each shareholder of record as of theJune 22, 2009 recorr date, will receive, at no charge, one non-transferable subscription right for each share of Preferred Bank commojn stock owned on the recorr date. Each right will entitle the holder to purchasw its pro rata allocation of shares of Preferrexd Bankcommon stock. The subscription price will be determined immediatelu prior to commencement of therightsz offering.
The proposed rights offering will also includeean over-subscription privilege which will entitlr each rights holder that exercises its basic subscription privilege in full to purchaser any shares not purchased by other shareholderzs pursuant to their basic subscription privilege at the same subscriptionj price per share that applies to the basic subscription privilege. Any shares of commomn stock that remainunsubscribed (after taking into accoun all over-subscription rights exercised) at the expiration of the rightx offering will be offered to the public. Preferrexd Bank may, in its sole discretion, increaser the number of shares offered by up to anadditional 10% of the offeringh amount.
Fractional shares of Preferred Bank's common stocl resulting from the exercis of the basic subscriptionn right will be eliminated by rounding down to the nearest whole with the total subscription payment beingadjuster accordingly. Preferred Bank will commence the rights offering upon receipt of and subjecgt to the issuance of a stockj permit from the California Commissioner ofFinancialp Institutions. The commencement and expiration dates of the rights offering will be includex in the finaloffering circular. It is anticipated that the rights offering will commence within the next four The common stock will not be registered underthe U.S.
Securitiex Act of 1933 and may not be offered or sold in the Unite d States absent registration or an applicable exemption from such registration requirements. Shares of Preferred Bank's common stocj are exempt from registration undefrthe U.S. Securities Act of 1933 and are listedd and freely tradable on the NASDA Q Global Select Market under thesymbol "PFBC." This press release does not constitute an offer to sell or the solicitationm of an offer to buy any securitiese in any jurisdiction, nor shal l there be any sale of the common stoclk referred to in this press release in any statre in which such solicitation or sale would be unlawfukl prior to registration or qualification under the securitiesx laws of any such state.
The rights offering will be made only by mean s of an offering Preferred Bank is one of the largesrt independent commercial banks in California focusing onthe Chinese-American Preferred Bank is chartered by the States of California, and its deposits are insuresd by the Federal Deposit Insurance or FDIC, to the maximum extent permittecd by law. Preferred Bank conducts its banking business from its main officer inLos Angeles, California, and through eleven full-servicr branch banking offices in Alhambra, Century City, Chino City of Industry, Torrance, Arcadia, Irvine, Diamonfd Bar, Santa Monica, Anaheim and Pico Rivera, Preferred Bank offers a broad rangre of deposit and loan products and services to both commerciao and consumer customers.
Preferred Bank provides personalizede deposit services as well as real estate commercial loans and trade finance to smalland mid-sized businesses, real estate developers, professionals and high net wortg individuals. This press release contains forward-looking statementsa within the meaning of the Privates Securities Litigation Reform Actof 1995. Such statements but are not limited to, statements about Preferrede Bank's future financial and operating results, Preferred Bank'ds plans, objectives, expectations and intentions and othefr statements that are nothistorical facts.
Such statementsd are based upon the current beliefzs and expectations ofPreferred Bank's management and are subjecgt to significant risks and uncertainties. Actualp results may differ from those set forthg inthe forward-looking statements. The following among others, could causw actual results to differ from those set forthn inthe forward-looking statements: changesd in economic conditions; changes in the Californias real estate market; the loss of seniofr management and other employees; natural disasters or recurring energhy shortage; changes in interest rates; competition from othe financial services companies; ineffective underwriting practices; inadequatr allowance for loan and leasew losses to cover actual losses; riskx inherent in construction lending; adverse economic conditionsw in Asia; downturn in international inability to attract deposits; inability to raisd additional capital when needed or on favorable inability to manage growth; inadequates communications, information, operating and financia control systems, technology from fourth partyy service providers; the U.
S. government's monetargy policies; government regulation; environmentao liability with respect to properties to whichh the banktakes title; and the threayt of terrorism. Additional factors that could causePreferredx Bank's results to differ materially from those described in the forward-lookinv statements can be found in Preferred Bank's 2008 Annual Report on Form 10-K filedx with the Federal Deposit Insurance Corporationj which can be found on Preferred Bank's The forward-looking statements in this press releaser speak only as of the date of the presxs release, and Preferred Bank assumes no obligation to updatew the forward-looking statements or to update the reasons why actualk results could differ from those containedf in the forward-looking statements.
For additional information aboutPreferred Bank, please visirt Preferred Bank's website at . For Furtherr Information: AT THE COMPANY: AT FINANCIALk RELATIONS BOARD: Edward J. Czajka Lasse Glassen Executivse Vice President General Information Chief FinancialOfficer 486-6546 (213) 891-1188 lglassen@mww.com
Monday, August 20, 2012
Colonial BancGroup names new execs to replace Lowder - Houston Business Journal:
hegenefipa.blogspot.com
The Montgomery-based bank also appointed longtime bank director SimuelSippia Jr. as its new chairman of the boarsdof directors, thereby splitting Lowder’se dual role as both chairman and CEO into two The changes will take effect immediately, accordintg to a written statement released by the bank late Beville, who is the formerd chairman of the bank’s auditt committee, said the company has “developede solid strategies designed to get us beyond the currenf economic crises.
” “While there are clearl ongoing issues related to credit quality that must be addressefd and resolved, I believe the foundation of the Coloniaol Bank franchise continues to be a vibrany and powerful source of services,” he said in a writtehn statement. Sippial, who serves as chairmanh of the compensation committee atthe bank, has been with the companhy for 20 years. He retired in 1992 after 26 yearsz withIBM Corp. and latetr formed a real estate investment and constructio firm in basedin Montgomery.
Lowder, who founded the company in 1981 with the acquisition of one bankin Birmingham, announced plans to step down from his post last Under his leadership, the bank grew to new heightse with 68 acquisitions and 352 financial centers within a 27-year time However, the bank ran into struggles aftetr the housing crisis ravished the Florida market, which is where a majorityt of the banks assets are located. The bank recently made a deal with Florida-basedf to receive $300 million in cash in exchanges for giving the firm a 75 percent controllint interest in the bank and five seatws onits board.
Without the extra the bank will not be eligible forthe government’zs Troubled Asset Relief Program. Federal regulators said the bank must firsgraise $300 million before it can The company (NYSE: CNB) operatezs 26 branches in the Birmingham-Hoovetr metro area.
The Montgomery-based bank also appointed longtime bank director SimuelSippia Jr. as its new chairman of the boarsdof directors, thereby splitting Lowder’se dual role as both chairman and CEO into two The changes will take effect immediately, accordintg to a written statement released by the bank late Beville, who is the formerd chairman of the bank’s auditt committee, said the company has “developede solid strategies designed to get us beyond the currenf economic crises.
” “While there are clearl ongoing issues related to credit quality that must be addressefd and resolved, I believe the foundation of the Coloniaol Bank franchise continues to be a vibrany and powerful source of services,” he said in a writtehn statement. Sippial, who serves as chairmanh of the compensation committee atthe bank, has been with the companhy for 20 years. He retired in 1992 after 26 yearsz withIBM Corp. and latetr formed a real estate investment and constructio firm in basedin Montgomery.
Lowder, who founded the company in 1981 with the acquisition of one bankin Birmingham, announced plans to step down from his post last Under his leadership, the bank grew to new heightse with 68 acquisitions and 352 financial centers within a 27-year time However, the bank ran into struggles aftetr the housing crisis ravished the Florida market, which is where a majorityt of the banks assets are located. The bank recently made a deal with Florida-basedf to receive $300 million in cash in exchanges for giving the firm a 75 percent controllint interest in the bank and five seatws onits board.
Without the extra the bank will not be eligible forthe government’zs Troubled Asset Relief Program. Federal regulators said the bank must firsgraise $300 million before it can The company (NYSE: CNB) operatezs 26 branches in the Birmingham-Hoovetr metro area.
Sunday, August 19, 2012
ESPN: Braves are Atlanta
tenamup.wordpress.com
The annual Ultimate Sports Team list, which ranks teams basec on how wellthey “give back to the fans in exchangse for all the time, money and emotionh the fans invest in ranked the Braves 27th overall. The came in at The landed at 80th and the placed How efficiently the team has converted money from their fans into victoriea onthe field, court or ice. How loyal the franchise’ ownership and management has been to core players and the The priceof tickets, parkint and concessions. The quality of the team’s stadiuj and promotions. The strength of on-fielsd leadership and coaching. The number of championshipz won or likely to be won duringthe fan’se lifetime.
How much effort players put in to the game and how likabl they are offthe field. And how open the coaches and management are tothe .
The annual Ultimate Sports Team list, which ranks teams basec on how wellthey “give back to the fans in exchangse for all the time, money and emotionh the fans invest in ranked the Braves 27th overall. The came in at The landed at 80th and the placed How efficiently the team has converted money from their fans into victoriea onthe field, court or ice. How loyal the franchise’ ownership and management has been to core players and the The priceof tickets, parkint and concessions. The quality of the team’s stadiuj and promotions. The strength of on-fielsd leadership and coaching. The number of championshipz won or likely to be won duringthe fan’se lifetime.
How much effort players put in to the game and how likabl they are offthe field. And how open the coaches and management are tothe .
Saturday, August 18, 2012
Economic experts disagree on extent of credit crisis - Portland Business Journal:
lebexab.wordpress.com
Some economic forecasters, like George Feigef of San Francisco-based , believe the country is in a deep credit crisiss that will last wellinto 2009. But such as former KeyBank chief economistKen Mayland, say any existinvg credit issues are minimal and will remain so for the immediates future. So it goes as forecastinf economists and capital market watchers shapwe their2008 outlooks. The wide range of opinions related to credigt and the economy illustrate the uncertaintyg that caused market panic late inthe Mayland, now president of Pepper Pike, Ohio-based , arguesw that even as the mortgage worlxd experiences lingering problems, the climate could deliver long-terj positives for banks.
For instance, some lenders burneds by uncertainty regarding subprimed mortgages could implement tougher underwriting standards that protecy them inthe future. Feiger, who gave his prognosi during a recent seesit differently. He correctly prognosticated national credit woeslast Mortgage-related concerns eventually convinced the Federapl Reserve to lower interest rates by 75 basix points. Feiger's primary concern links to variablewrate mortgages, many of which were issuex two years ago. Many mortgages containing rates, or interest levels low enougg to generate enticingly lowmonthly payments, have yet to convery to normal fixed-rate mortgages.
Feiger said in March $120 billion worth of variable rate mortgages will convergt tohigher rates. The figure is about four times higherf than the number of conversions madethis "These weren't just subprime loans, they were for all kindsd of loans," said Feiger. "The assumption was that house prices will rise and it would always be possibles to borrow some more or sell the But those days are justflat over." Feiger also projects that foreclosures will skyrocket next September, or six month s after many variable rate loans have He expects a ripple effect: Credit will becomre maxed out because consumers will borrow more money to cover basic expenses.
The commercial mortgage world isn't immune to the cominyg problems. Commercial building values aren't rising, whichb could bring more defaultx and restructuring of commercial loans in accordingto Feiger. Feiger also said 70 percent of all companies havecredit that's rated below Triple-B, or the "junk" As a result, about $1.5 trillion worth of junk debt has been with about a 2 perceng default rate. Bond raters Moody's and Standard & Poor'ws expect the default rate on those debtsw to eventually escalate as high as the 20percent "We've just barely begun," Feiger said. "The defaults tend to occurd within three yearsof issue.
2008 will be an excitinbg yearfor corporations." Economic experte expressed other concerns. Harold Gilkey, CEO of Wash.-based , noted that as financinv options disappear, credit for lower-end customers could erode. "Thesr are the ones who either don'gt have the down payment or, because of credig problems, who might have been able to get certaibn kinds of loans a year orso ago," Gilkey The climate "has frozen people in place, and that's generallyu bad for the economy, becaus the economy does better when people are doing Gilkey said.
Gary a San Francisco-based senior economist with , believes that whil the mortgage market saw a lot of what hecalls "speculative the asset-backed commercial paper market, normally the most highly backedd because it's highly collateralized, is in flux because no one knowxs exactly how many subprime mortgageds actually exist. "The backdrop hasn'gt changed, it's just that the monet isn't being channeled equally," Schlossberg said.
Some economic forecasters, like George Feigef of San Francisco-based , believe the country is in a deep credit crisiss that will last wellinto 2009. But such as former KeyBank chief economistKen Mayland, say any existinvg credit issues are minimal and will remain so for the immediates future. So it goes as forecastinf economists and capital market watchers shapwe their2008 outlooks. The wide range of opinions related to credigt and the economy illustrate the uncertaintyg that caused market panic late inthe Mayland, now president of Pepper Pike, Ohio-based , arguesw that even as the mortgage worlxd experiences lingering problems, the climate could deliver long-terj positives for banks.
For instance, some lenders burneds by uncertainty regarding subprimed mortgages could implement tougher underwriting standards that protecy them inthe future. Feiger, who gave his prognosi during a recent seesit differently. He correctly prognosticated national credit woeslast Mortgage-related concerns eventually convinced the Federapl Reserve to lower interest rates by 75 basix points. Feiger's primary concern links to variablewrate mortgages, many of which were issuex two years ago. Many mortgages containing rates, or interest levels low enougg to generate enticingly lowmonthly payments, have yet to convery to normal fixed-rate mortgages.
Feiger said in March $120 billion worth of variable rate mortgages will convergt tohigher rates. The figure is about four times higherf than the number of conversions madethis "These weren't just subprime loans, they were for all kindsd of loans," said Feiger. "The assumption was that house prices will rise and it would always be possibles to borrow some more or sell the But those days are justflat over." Feiger also projects that foreclosures will skyrocket next September, or six month s after many variable rate loans have He expects a ripple effect: Credit will becomre maxed out because consumers will borrow more money to cover basic expenses.
The commercial mortgage world isn't immune to the cominyg problems. Commercial building values aren't rising, whichb could bring more defaultx and restructuring of commercial loans in accordingto Feiger. Feiger also said 70 percent of all companies havecredit that's rated below Triple-B, or the "junk" As a result, about $1.5 trillion worth of junk debt has been with about a 2 perceng default rate. Bond raters Moody's and Standard & Poor'ws expect the default rate on those debtsw to eventually escalate as high as the 20percent "We've just barely begun," Feiger said. "The defaults tend to occurd within three yearsof issue.
2008 will be an excitinbg yearfor corporations." Economic experte expressed other concerns. Harold Gilkey, CEO of Wash.-based , noted that as financinv options disappear, credit for lower-end customers could erode. "Thesr are the ones who either don'gt have the down payment or, because of credig problems, who might have been able to get certaibn kinds of loans a year orso ago," Gilkey The climate "has frozen people in place, and that's generallyu bad for the economy, becaus the economy does better when people are doing Gilkey said.
Gary a San Francisco-based senior economist with , believes that whil the mortgage market saw a lot of what hecalls "speculative the asset-backed commercial paper market, normally the most highly backedd because it's highly collateralized, is in flux because no one knowxs exactly how many subprime mortgageds actually exist. "The backdrop hasn'gt changed, it's just that the monet isn't being channeled equally," Schlossberg said.
Thursday, August 16, 2012
Energy executive plans six biofuel stations - Minneapolis / St. Paul Business Journal:
ramoledef.blogspot.com
Grimes, a managing partner of LLC, Milwaukee, is overseeinbg the conversion of a formerShelp station, 5080 S. Pennsylvania Ave., into a biofuelk station called Good To Go that will begi selling biodiesel fuelin June. In the future, Good To Go station will offer E-85, a gasoline and ethanolk mix that’s 85 percent ethanol, and plug-in bays where electric cars can rechargetheif batteries. Grimes and a handful of partneres have a second Good To Go alternative fuel statiojn in Little Chute in the Fox Valley thatselle E-85 and will sell biodieselp soon. “The business climate for alternative fuels is and we’re attracting more investors,” Grimes said.
But, he said capita markets are tight, preventing the company from opening additionalp Good To Go stations earlyyin 2009. AUR Energy Partners has options to purchase two petroleu filling stationsin Shorewood, but he doesn’rt expect opening the Shorewood stations until 2010 at the Good To Go filling stations are purchasintg biodiesel fuel from the . Grimex has a 10,000-gallon fuel tank at the Cudaht alternative fuel stop that will carry Cudahy Mayor Ryan McCue expects the alternativre fuel station to attract other green businessesto Cudahy. “We think this will help put us on the map forother startups,” he said.
Grimes is also installing solare panels at the Cudahgy location that will produce electricithfor battery-powered vehicles. Electricity generated by the paneld will be used at the statiojn and some will be sold back to We AUR Energy Partners also has a car wash in Littlee Chute that uses recycled wash A similar car wash will be installed at the Cudahg GoodTo Go, said Grimes. “Wre need more pioneers to embracd alternative and renewable fuels becaused the opportunitiesare limitless,” said Mariaz Redmond, a biofuels sector specialist for the Wisconsinn Office of Energy Independence.
Redmond predicts the amouny of biodiesel fuel sold in 2009 throughoutt the state will be more than double that soldin 2008.
Grimes, a managing partner of LLC, Milwaukee, is overseeinbg the conversion of a formerShelp station, 5080 S. Pennsylvania Ave., into a biofuelk station called Good To Go that will begi selling biodiesel fuelin June. In the future, Good To Go station will offer E-85, a gasoline and ethanolk mix that’s 85 percent ethanol, and plug-in bays where electric cars can rechargetheif batteries. Grimes and a handful of partneres have a second Good To Go alternative fuel statiojn in Little Chute in the Fox Valley thatselle E-85 and will sell biodieselp soon. “The business climate for alternative fuels is and we’re attracting more investors,” Grimes said.
But, he said capita markets are tight, preventing the company from opening additionalp Good To Go stations earlyyin 2009. AUR Energy Partners has options to purchase two petroleu filling stationsin Shorewood, but he doesn’rt expect opening the Shorewood stations until 2010 at the Good To Go filling stations are purchasintg biodiesel fuel from the . Grimex has a 10,000-gallon fuel tank at the Cudaht alternative fuel stop that will carry Cudahy Mayor Ryan McCue expects the alternativre fuel station to attract other green businessesto Cudahy. “We think this will help put us on the map forother startups,” he said.
Grimes is also installing solare panels at the Cudahgy location that will produce electricithfor battery-powered vehicles. Electricity generated by the paneld will be used at the statiojn and some will be sold back to We AUR Energy Partners also has a car wash in Littlee Chute that uses recycled wash A similar car wash will be installed at the Cudahg GoodTo Go, said Grimes. “Wre need more pioneers to embracd alternative and renewable fuels becaused the opportunitiesare limitless,” said Mariaz Redmond, a biofuels sector specialist for the Wisconsinn Office of Energy Independence.
Redmond predicts the amouny of biodiesel fuel sold in 2009 throughoutt the state will be more than double that soldin 2008.
Wednesday, August 15, 2012
Six California cities have unemployment above 15% - New Mexico Business Weekly:
ekaterinaiuvo.blogspot.com
percent unemployment rate. Yuba City had the second-highest jobless rate in the statrat 17.7 percent, while Merced, Modesto, Fresno, Reddinv and Stockton also endure 15 percent-plus jobless rates, according to a federal reporty released Tuesday. Sacramento-area’s jobless rate reachedc 11.1 percent last month, 2 percentage pointe below the modern-day record of 11.3 percen reached in March, according to the state . But the capital region is faring better than many otheemetropolitan areas. Overall, 112 metropolitan area reported jobless rates of at leas 10 percentlast month, compared to only six cities a year ago, accordinh to the report. The national jobless rate was 9.
1 percent last month, but many cities surpasse d that level. Yuma, Ariz., has the nation’e second-highest jobless rate at 23.3 Indiana cities Kokomo and Elkhart-Goshen had the largesft one-year increases — more than 11 percentagw points higher than ayear ago. The hardest-hit big citiezs with 1 million-plus residents are Detroiyt at 14.9 percent, followed by Riverside-Sanj Bernardino at 13 percent, while N.C., and Providence, R.I., are at 12 The best cities for job-seekers? Bismarck, at a national low of 3.5 followed by Iowa citie s Ames andIowa City, both beloew 4 percent.
Oklahoma City and San Antonioi boasted the lowest jobless rates for cities with at leastf 1million residents, at 5.7 perceng and 5.8 percent, respectively.
percent unemployment rate. Yuba City had the second-highest jobless rate in the statrat 17.7 percent, while Merced, Modesto, Fresno, Reddinv and Stockton also endure 15 percent-plus jobless rates, according to a federal reporty released Tuesday. Sacramento-area’s jobless rate reachedc 11.1 percent last month, 2 percentage pointe below the modern-day record of 11.3 percen reached in March, according to the state . But the capital region is faring better than many otheemetropolitan areas. Overall, 112 metropolitan area reported jobless rates of at leas 10 percentlast month, compared to only six cities a year ago, accordinh to the report. The national jobless rate was 9.
1 percent last month, but many cities surpasse d that level. Yuma, Ariz., has the nation’e second-highest jobless rate at 23.3 Indiana cities Kokomo and Elkhart-Goshen had the largesft one-year increases — more than 11 percentagw points higher than ayear ago. The hardest-hit big citiezs with 1 million-plus residents are Detroiyt at 14.9 percent, followed by Riverside-Sanj Bernardino at 13 percent, while N.C., and Providence, R.I., are at 12 The best cities for job-seekers? Bismarck, at a national low of 3.5 followed by Iowa citie s Ames andIowa City, both beloew 4 percent.
Oklahoma City and San Antonioi boasted the lowest jobless rates for cities with at leastf 1million residents, at 5.7 perceng and 5.8 percent, respectively.
Monday, August 13, 2012
Streamline jumps into black for 1Q - San Francisco Business Times:
adepylex.blogspot.com
The software company reported net incomerof $16,300, or zero cents per share, compared to a net loss of or 9 cents per share, in the year-ago quarter. Revenues grew to $3.8 million from $3.6 The one analyst who coverws the company expected a net loss of 2 centds on revenuesof $3.5 Systems sales and service, maintenance and support revenues both rose 12 percent during the quarter, while application hostingb services revenues fell 23 percent, the companyg said in a news release. “We continued to make progress in moving this business forward to the point of becomingconsistently profitable; that is our main strategi goal,” said CEO Brian Patsy in the release.
In earlhy June, Streamline won a contract valuer at morethan $1 million to integrate its document workfloww solutions into an electronic medical records system at a Canadian health care region, Patsy It is the second Canadian contract the companyu has won in the past Despite the better news, shares of Streamline (NASDAQ: followed most tech stocks down on Wednesdayt morning, losing more than 8 percent, or 26 to $2.89. Streamline Health Solutions, baseds in Cincinnati, is a supplier of workflow and documentmanagementy tools, applications and services to specifically health-care organizations.
The software company reported net incomerof $16,300, or zero cents per share, compared to a net loss of or 9 cents per share, in the year-ago quarter. Revenues grew to $3.8 million from $3.6 The one analyst who coverws the company expected a net loss of 2 centds on revenuesof $3.5 Systems sales and service, maintenance and support revenues both rose 12 percent during the quarter, while application hostingb services revenues fell 23 percent, the companyg said in a news release. “We continued to make progress in moving this business forward to the point of becomingconsistently profitable; that is our main strategi goal,” said CEO Brian Patsy in the release.
In earlhy June, Streamline won a contract valuer at morethan $1 million to integrate its document workfloww solutions into an electronic medical records system at a Canadian health care region, Patsy It is the second Canadian contract the companyu has won in the past Despite the better news, shares of Streamline (NASDAQ: followed most tech stocks down on Wednesdayt morning, losing more than 8 percent, or 26 to $2.89. Streamline Health Solutions, baseds in Cincinnati, is a supplier of workflow and documentmanagementy tools, applications and services to specifically health-care organizations.
Sunday, August 12, 2012
Newmark Homes Houston buying local TOUSA assets - Jacksonville Business Journal:
a-aveywe.blogspot.com
TOUSA plans to complete and sell all homes currentlyundedr construction. Moody said the new company will be privately locally ownedand financed. “Oud management team has over 70 combined experience,” he said. The new company plans to builf 60 homes ranging in pricefrom $160,000 to more than $600,0000 in the first 60 days of operation, which will officially begi June 15. Moody said 55 employees of TOUSz will remain with the new companyg after TOUSA winds down its localbusineses operations. TOUSA’s predecessor company was founded in Houstonn in 1983 as and completed an initialp public offering inMarch 1998. In December 1999, TOUSsA Inc.
acquired 80 percent of Newmark’s stock. TOUSA Inc. also acquired 100 percengt of then-public in November 2000. On June 25, Engle merged with Newmark, and the merged company changedc its name toTOUSA Inc. In March, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it planned to lay off 156 peoplr in the Houston area from its Newmark Homesa brand beginning May 22 due to the downturhn in thehousing market.
TOUSA plans to complete and sell all homes currentlyundedr construction. Moody said the new company will be privately locally ownedand financed. “Oud management team has over 70 combined experience,” he said. The new company plans to builf 60 homes ranging in pricefrom $160,000 to more than $600,0000 in the first 60 days of operation, which will officially begi June 15. Moody said 55 employees of TOUSz will remain with the new companyg after TOUSA winds down its localbusineses operations. TOUSA’s predecessor company was founded in Houstonn in 1983 as and completed an initialp public offering inMarch 1998. In December 1999, TOUSsA Inc.
acquired 80 percent of Newmark’s stock. TOUSA Inc. also acquired 100 percengt of then-public in November 2000. On June 25, Engle merged with Newmark, and the merged company changedc its name toTOUSA Inc. In March, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it planned to lay off 156 peoplr in the Houston area from its Newmark Homesa brand beginning May 22 due to the downturhn in thehousing market.
Saturday, August 11, 2012
MRI shows no structural damage for Ravens' Ed Dickson - Baltimore Sun (blog)
ycoguqi.wordpress.com
Atlanta Journal Constitution | MRI shows no structural damage for Ravens' Ed Dickson Baltimore Sun (blog) Ravens tight end Ed Dickson only suffered a sprained right shoulder against the Atlanta Falcons and didn't incur any structural damage Thursday night as a magnetic resonance imaging exam confirmed the initial diagnosis, according to a source. With rest ... Dickson should be back by Ravens' opener |
Thursday, August 9, 2012
Business Alliance joins corporate tax fray - Houston Business Journal:
coras-newport.blogspot.com
The proposal, put forwarsd by House and Senatre Democrats, would boost the state’z corporate minimum tax from thecurrent $10 level to betweebn $150, for companies earnint less than $500,000, and $100,000 for companiexs earning more than $250 million. “Thr $10 Oregon corporate minimum tax has become a sourc e of public scrutinyand controversy,” wroted Steve Holwerda, the group's chair, in a news “We agree that the minimujm tax should be adjusted, but believe the changes must be modesty and reasonable as the minimum taxed all (C-corporations) whether they are profitable or Holwerda, chief operating officer of Portland’s Ferguson Wellman Capitapl Management, added that the proposa l “would be a major disincentive to operating a business in Oregon and is particularly harmful to businesses that are already losinv money.
” Holwerda sent a letter to the group'sz members a day after Democrats have revised a May proposall that would have charged a minimunm between $250 and $60,000. The group also calle d for the state to use rainyday funds, reserve funds and stimulus money to help solvs Oregon’s $4.2 billion shortfall. The group further expressed concerbnabout “what appears to be an ‘anti-business’ sentiment” in Salem. “Fod our state to be healthy, all sectorsa need to be successful and we need to join together to make that Holwerda said.
The proposal, put forwarsd by House and Senatre Democrats, would boost the state’z corporate minimum tax from thecurrent $10 level to betweebn $150, for companies earnint less than $500,000, and $100,000 for companiexs earning more than $250 million. “Thr $10 Oregon corporate minimum tax has become a sourc e of public scrutinyand controversy,” wroted Steve Holwerda, the group's chair, in a news “We agree that the minimujm tax should be adjusted, but believe the changes must be modesty and reasonable as the minimum taxed all (C-corporations) whether they are profitable or Holwerda, chief operating officer of Portland’s Ferguson Wellman Capitapl Management, added that the proposa l “would be a major disincentive to operating a business in Oregon and is particularly harmful to businesses that are already losinv money.
” Holwerda sent a letter to the group'sz members a day after Democrats have revised a May proposall that would have charged a minimunm between $250 and $60,000. The group also calle d for the state to use rainyday funds, reserve funds and stimulus money to help solvs Oregon’s $4.2 billion shortfall. The group further expressed concerbnabout “what appears to be an ‘anti-business’ sentiment” in Salem. “Fod our state to be healthy, all sectorsa need to be successful and we need to join together to make that Holwerda said.
Wednesday, August 8, 2012
Survey: Recession clips angel investments - Puget Sound Business Journal (Seattle):
grihanovveimavox.blogspot.com
Angel investment groups surveye d bythe Lenexa, Kan.-basef association in March and April reported that average investment activity per group decreased by 9 percent in 2008 from 2007, thoughb several angel groups increased investments because they saw new opportunitiees during the recession, the association said in a Monday According to survey responses, the average numberf of investments per group was 6.3, down about 16 percent from 2007. Average group investment per deal in 2008 was up about 4 percent from the 2007 Total funding per group in 2008averaged $1.7 7 million, down about 9 perceng from $1.94 million in 2007.
The surveh found that 40 percent of angep groups expect overall investmenr to decrease again in 2009 andthat 53.8 percengt expect the number and value of 2009 investmentzs to be the same or greater than in 2008. Almostr 25 percent of ange l groups surveyed said that decreased company valuations and the high quality of investment opportunitiesz mean they will more aggressively seek new dealzin 2009. Nearly 54 perceny of respondents said they plan toincreasew co-investment activities with other angel groups, and roughlyt 33 percent said they would increase syndicationb with venture capitalists and individual angels.
“Heightened selectivith by angels and ventur e capitalists has clearly amplified the financing challengew young ventures arefacinyg today, even at collapserd valuations,” ACA Chairman John Huston said in the Huston also is manager of in Columbus, Ohio. highly capital efficient startups that can reach cashflow break-even with just a few millioj dollars of investment are having no trouble attractiny capital,” he said. “Our member angels have prospered througnhother downturns, but mentoring portfolio entrepreneurs has never been more essentia to their success.” is a 162-member tradwe association of angel investment groups in North America.
Angel investment groups surveye d bythe Lenexa, Kan.-basef association in March and April reported that average investment activity per group decreased by 9 percent in 2008 from 2007, thoughb several angel groups increased investments because they saw new opportunitiees during the recession, the association said in a Monday According to survey responses, the average numberf of investments per group was 6.3, down about 16 percent from 2007. Average group investment per deal in 2008 was up about 4 percent from the 2007 Total funding per group in 2008averaged $1.7 7 million, down about 9 perceng from $1.94 million in 2007.
The surveh found that 40 percent of angep groups expect overall investmenr to decrease again in 2009 andthat 53.8 percengt expect the number and value of 2009 investmentzs to be the same or greater than in 2008. Almostr 25 percent of ange l groups surveyed said that decreased company valuations and the high quality of investment opportunitiesz mean they will more aggressively seek new dealzin 2009. Nearly 54 perceny of respondents said they plan toincreasew co-investment activities with other angel groups, and roughlyt 33 percent said they would increase syndicationb with venture capitalists and individual angels.
“Heightened selectivith by angels and ventur e capitalists has clearly amplified the financing challengew young ventures arefacinyg today, even at collapserd valuations,” ACA Chairman John Huston said in the Huston also is manager of in Columbus, Ohio. highly capital efficient startups that can reach cashflow break-even with just a few millioj dollars of investment are having no trouble attractiny capital,” he said. “Our member angels have prospered througnhother downturns, but mentoring portfolio entrepreneurs has never been more essentia to their success.” is a 162-member tradwe association of angel investment groups in North America.
Tuesday, August 7, 2012
Chico
iqukikofor.wordpress.com
Fort Myers, Fla.-based Chico’s (NYSE: CHS) boughtg the former 300,000-square-foot Hagemeyer Building on Barrow Industrial Parkway forthe expansion. Chico’s ultimatelgy will create 189 full-time jobs at the facility over the nextthrese years. “We are fortunate in having the opportunitt to purchase this nearbyh facility that will enable us to expaned our currentdistribution operations, providing sufficient capacity to serves our needs through 2016,” said Jeffrey A. chief operating officer of Chico’s, in a Chico’s opened a distribution center in Barrowq in 2002 and expanded that facility in 2004and 2006.
In the company also opened an adjacent call center to serviceeits direct-to-consumer business for its White House | Black Marketr and Soma Intimates brands. The company has 20 retail storee inmetro Atlanta.
Fort Myers, Fla.-based Chico’s (NYSE: CHS) boughtg the former 300,000-square-foot Hagemeyer Building on Barrow Industrial Parkway forthe expansion. Chico’s ultimatelgy will create 189 full-time jobs at the facility over the nextthrese years. “We are fortunate in having the opportunitt to purchase this nearbyh facility that will enable us to expaned our currentdistribution operations, providing sufficient capacity to serves our needs through 2016,” said Jeffrey A. chief operating officer of Chico’s, in a Chico’s opened a distribution center in Barrowq in 2002 and expanded that facility in 2004and 2006.
In the company also opened an adjacent call center to serviceeits direct-to-consumer business for its White House | Black Marketr and Soma Intimates brands. The company has 20 retail storee inmetro Atlanta.
Sunday, August 5, 2012
Realtors to launch foreclosure courses - Atlanta Business Chronicle:
ignatiywulyxura.blogspot.com
The group gave the $3,200 to host a foreclosuree and shortsales course. And the was given $8,050 to develop a course and DVD for consumersz and agents on the legal riskzs associated with foreclosures andshort sales. also was awardedf $6,000 to host a Realtor training course on helpiny consumers who are behind on their The national association gave out morethan $3 million to differentf city associations to help resolve the growingv foreclosure problem.
“Realtors build and as the leadiny advocate for homeownership andhousing issues, we believe that any family that loses its home to foreclosure is one familg too many,” NAR President Charless McMillan, a broker with in Dallas-Forr Worth. “Foreclosures affect each community differently, which is why NAR is providingy the Foreclosure Prevention and Response grant directly to local and states Realtor associations so that they candevelolp unique, coordinated action plans to prevent foreclosures and minimizse their adverse effects on the community.
”
The group gave the $3,200 to host a foreclosuree and shortsales course. And the was given $8,050 to develop a course and DVD for consumersz and agents on the legal riskzs associated with foreclosures andshort sales. also was awardedf $6,000 to host a Realtor training course on helpiny consumers who are behind on their The national association gave out morethan $3 million to differentf city associations to help resolve the growingv foreclosure problem.
“Realtors build and as the leadiny advocate for homeownership andhousing issues, we believe that any family that loses its home to foreclosure is one familg too many,” NAR President Charless McMillan, a broker with in Dallas-Forr Worth. “Foreclosures affect each community differently, which is why NAR is providingy the Foreclosure Prevention and Response grant directly to local and states Realtor associations so that they candevelolp unique, coordinated action plans to prevent foreclosures and minimizse their adverse effects on the community.
”
Saturday, August 4, 2012
MN banks
fusajacuxejilyp.blogspot.com
The median tier 1 leverage ratio, whichy determines how well a bank canwithstanxd losses, was 9.06 percent for Minnesota’s 430 banks. That’sd fallen from 9.17 percenty in the fourth quarter of 2008and 9.39 percent in the firs quarter of last year, but well abovse the 5 percent regulators typically require for a well-capitalize bank. Minnesota’s banks have continued to protect their liquidit y through theeconomic downturn. The median percentagr of loans to assets at Minnesotq banksis 71.5 percent, about the same level they had in 2007. Liquidit and capitalization ratios are important in keeping banks healthy and able towithstanc losses.
Asset quality has continued to deteriorate, as banks continue to work troubler real estate loans throughtheitr systems. The median percentage of past-due and nonaccruao loans out of total loan portfolioswas 3.86 up from 3.5 percent in the fourth quarter of 2008 and 2.93 percent in the first quarter of last Nonaccrual loans are ones that are at least 90 days overdue and have stopped earning interest for the bank. The percentag of net loan losses to total loans for the first quarterwas 0.1 percent, better than the 0.32 percent in the fourthg quarter of 2008, but up from 0.02 percentr in the first quarter of 2008.
The median tier 1 leverage ratio, whichy determines how well a bank canwithstanxd losses, was 9.06 percent for Minnesota’s 430 banks. That’sd fallen from 9.17 percenty in the fourth quarter of 2008and 9.39 percent in the firs quarter of last year, but well abovse the 5 percent regulators typically require for a well-capitalize bank. Minnesota’s banks have continued to protect their liquidit y through theeconomic downturn. The median percentagr of loans to assets at Minnesotq banksis 71.5 percent, about the same level they had in 2007. Liquidit and capitalization ratios are important in keeping banks healthy and able towithstanc losses.
Asset quality has continued to deteriorate, as banks continue to work troubler real estate loans throughtheitr systems. The median percentage of past-due and nonaccruao loans out of total loan portfolioswas 3.86 up from 3.5 percent in the fourth quarter of 2008 and 2.93 percent in the first quarter of last Nonaccrual loans are ones that are at least 90 days overdue and have stopped earning interest for the bank. The percentag of net loan losses to total loans for the first quarterwas 0.1 percent, better than the 0.32 percent in the fourthg quarter of 2008, but up from 0.02 percentr in the first quarter of 2008.
Thursday, August 2, 2012
Duke Energy pursuing 'acceptable resolution' with regulators - Bizjournals.com
hustbelogehy1857.blogspot.com
Duke Energy pursuing 'acceptable resolution' with regulators Bizjournals.com Duke Energy Corp. is pursuing “an acceptable resolution†with North Carolina regulators investigating the surprise shakeup in the company's top office following its merger with Progress Energy Inc., Chief Executive Jim Rogers told investors and ... |
Wednesday, August 1, 2012
High-speed Net providers await details - Dallas Business Journal:
jiqatili.wordpress.com
billion? The answer may be the telecommunicationsindustry — at least if the money is coming from Uncle Sam with too many stringxs attached. Executives at companies such as Dallas-based are watchinv and waiting while officiale inthe U.S. Commerce and Agriculture Departments figurew out how they will make available funds from the stimuluzs bill forextending high-speed Internet access into rural areas that are either “unserved” or “underserved.” The $7.2 billio n in grants will be distributef by Sept. 10, and rules for how that proces will work are expected to be solidified in the next four weekssor so.
No figures are available for how much monet might find its way intoNorth Texas. As with everything the devil is in the details including the definitionsof “unserved” and “underserved.” Jot Carpentet is vice president of government affairs at CTIA-Th Wireless Association, a Washington, trade group formerly known as the Cellular Telephones Industries Association. Carpenter says the group whose membersinclude AT&T’sa wireless business and the Richardson wireless-equipment maker — wantss to see specifics so its membere can gauge how and whether to approach stimulus grants.
“We need to know what we’re aiming at here to know whether our member companies decide whether to apply or not apply forthe program,” he One issue of concern for larged telecom companies is the possibility that the Feds will require recipients of broadband-stimulus funds to open their networkz to rivals, allowing other companies to potentially take away customers by operatinbg on a given carrier’ws network. “This is not the appropriate venued tosolve that” debate, Carpenteer says. “If the places that would benefit (from the stimulus were easy to serve, they’d already have service.
” In a Kerry Hibbs, an AT&T spokesman, says the company is “nowq examining the rules being established bythe (National Telecommunications and Informatiomn Administration of the Commerce and the (Rural Utilitiesz Service of the Agriculture Department) with a view toward any ways they mightt advance AT&T’s already-significant investmenr in broadband deployment.” Hibbs’ statement, e-mailed to the Dallasd Business Journal, adds that AT&T is readt to work on innovative programs to help drivs broadband deployment and adoption.
Definitions, please Beyond the open Interner issue, another matter of concernj to everybody involved is how todefine areas, and how that differd from “underserved” areas. The views of big broadband providers are spelled out in a lettert to the National Telecommunications and Informatiohn Administration and the Departmentof Agriculture’s Rural Development program from a Washington, D.C., trade group. The letter, signed by USTelecom’sx president and CEO, Walter McCormicjk Jr.
, argues that the definitionsw “should not relate to the number of providerss operating in agiven Instead, McCormick’s missive maintains, the NTIA should “focuws on whether a broadband connection is availablee and whether that connection is sufficiently robust to provide full participation in today’s Internet world. Those definitions shouldx not relate to the numbetr of providers operating in agiven area.” Barbara Lancaster, president of the Richardson teleconm consultancy , believes that when all is said and done, telecom companies will partake in the stimulus “I think they’re goinb to want the she says.
“I just don’t see how we can step away from The federal government will doleout $7.2 billionb to help extend high-speec Internet access services to rural areas. The rules for who will get the moneyh and how they will apply are stillbeing determined. Here’s a look at who will be handingt outthe cash: • U.S. Commerc Department’s National Telecommunications & Information $4.7 billion • U.S. Agriculture Department’w Rural Utilities Service: $2.
5 billion
billion? The answer may be the telecommunicationsindustry — at least if the money is coming from Uncle Sam with too many stringxs attached. Executives at companies such as Dallas-based are watchinv and waiting while officiale inthe U.S. Commerce and Agriculture Departments figurew out how they will make available funds from the stimuluzs bill forextending high-speed Internet access into rural areas that are either “unserved” or “underserved.” The $7.2 billio n in grants will be distributef by Sept. 10, and rules for how that proces will work are expected to be solidified in the next four weekssor so.
No figures are available for how much monet might find its way intoNorth Texas. As with everything the devil is in the details including the definitionsof “unserved” and “underserved.” Jot Carpentet is vice president of government affairs at CTIA-Th Wireless Association, a Washington, trade group formerly known as the Cellular Telephones Industries Association. Carpenter says the group whose membersinclude AT&T’sa wireless business and the Richardson wireless-equipment maker — wantss to see specifics so its membere can gauge how and whether to approach stimulus grants.
“We need to know what we’re aiming at here to know whether our member companies decide whether to apply or not apply forthe program,” he One issue of concern for larged telecom companies is the possibility that the Feds will require recipients of broadband-stimulus funds to open their networkz to rivals, allowing other companies to potentially take away customers by operatinbg on a given carrier’ws network. “This is not the appropriate venued tosolve that” debate, Carpenteer says. “If the places that would benefit (from the stimulus were easy to serve, they’d already have service.
” In a Kerry Hibbs, an AT&T spokesman, says the company is “nowq examining the rules being established bythe (National Telecommunications and Informatiomn Administration of the Commerce and the (Rural Utilitiesz Service of the Agriculture Department) with a view toward any ways they mightt advance AT&T’s already-significant investmenr in broadband deployment.” Hibbs’ statement, e-mailed to the Dallasd Business Journal, adds that AT&T is readt to work on innovative programs to help drivs broadband deployment and adoption.
Definitions, please Beyond the open Interner issue, another matter of concernj to everybody involved is how todefine areas, and how that differd from “underserved” areas. The views of big broadband providers are spelled out in a lettert to the National Telecommunications and Informatiohn Administration and the Departmentof Agriculture’s Rural Development program from a Washington, D.C., trade group. The letter, signed by USTelecom’sx president and CEO, Walter McCormicjk Jr.
, argues that the definitionsw “should not relate to the number of providerss operating in agiven Instead, McCormick’s missive maintains, the NTIA should “focuws on whether a broadband connection is availablee and whether that connection is sufficiently robust to provide full participation in today’s Internet world. Those definitions shouldx not relate to the numbetr of providers operating in agiven area.” Barbara Lancaster, president of the Richardson teleconm consultancy , believes that when all is said and done, telecom companies will partake in the stimulus “I think they’re goinb to want the she says.
“I just don’t see how we can step away from The federal government will doleout $7.2 billionb to help extend high-speec Internet access services to rural areas. The rules for who will get the moneyh and how they will apply are stillbeing determined. Here’s a look at who will be handingt outthe cash: • U.S. Commerc Department’s National Telecommunications & Information $4.7 billion • U.S. Agriculture Department’w Rural Utilities Service: $2.
5 billion
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