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The Mountain View, Calif.-based behemoth reported $5.52 billion in revenue, up from the year-ago quarter'sa $5.37 billion. “Google had a very good quarter, especiallu given the continued macro-economic downturn. Whilew most of the world's largest economies Google's year-over-year revenues were up 3 percent," said CEO Eric Excluding items, the company would have earned $1.71 or $5.36 a share, compared to $1.478 billion, or $4.63 a share. Analystds expected, on average, earnings of $5.089 a share on $4.06 billion in revenue. Google-ownefd sites generated revenueof $3.65 or 66 percent of total revenue, compared to the year-ago quarter's revenue of $3.53 billion.
Google’s partner sites generated revenue through AdSense programsof $1.68 or 31 percent of total That represented a 2 percent increase from $1.66 Revenue from outside of the United Statexs totaled $2.91 billion, representing 53 percent of total revenue. Googlde (NASDAQ: GOOG) also reported a stock-based compensatiom charge of $293 milliob as compared to $273 million in the second quarterof 2008.
Friday, August 31, 2012
Thursday, August 30, 2012
Construction costs down 5.5 percent with projects hard to find - Kansas City Business Journal:
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percent in Phoenix during the first four months of according to new data releasedby , an internationao consulting and research firm with offices in the The RLB Quarterly Construction Report attributes the decline in constructionn cost indices here and throughout the country largely to decreasing structural steeol costs, but also to lower bids submitted by suppliers and contractorsw hungry for work. “Contractors’ concerns about the availability of work haveovershadowecd commodities’ role in driving construction costs,” the reporgt says. Cost declines were steeper in Denver (7.5 percent) and Seattlew (7.9 percent). The smallest decline (3.2 was recorded in Boston.
Construction costs remain a relative bargain in Phoenix compared with othermetro areas. The average constructiob cost of prime office spaced in Phoenix rangesfrom $150 to $250 per square foot. In San Francisco, the range is $195 to $300. The average constructiohn cost of a general hospital in Phoenixz rangesfrom $305 to $430 a square In Washington, that range is $450 to $585. For . Two new upscale neighborhood retail centerd changed hands recently through a Chapterr 11bankruptcy proceeding.
Il Palazzo, at Union Hills Drive and 59th andCitadelle Plaza, at Utopia Road and 59th both were developed by , which defaulted on thosre mortgages last fall and then sought Chapte 11 bankruptcy protection. The lender on both Conseco LifeInsurance Co., sold the noteas to for $13 million. That company, whichu has offices in Scottsdale andLos Angeles, foreclosed on the propertyu and took title. Bill Metzler, principal of West Coastf Capital Partners, distributed a news release May 4 announcinyg the company had purchased the propertiese inan “all cash transaction,” but did not disclose the detaile of obtaining it throughn bankruptcy.
“This is an investment in the futurrof Glendale,” Metzler said. “Thr property is debt-free, and we are in a favorabls financial position to fundthe long-term succeszs of Il Palazzo’s existing and prospectiv e tenants.” Tenants of the 43,000-square-foot Il Palazzo center include Posh Wash Dog Bravi Tuscan Kitchen, Chase Bank, Aspen Ginger China Bistro and Vita Bella Day Spa. Tenants of the 110,000-square-fooft Citadelle Plaza include NextCoffee Co., Sangriz Luxe Lounge, Indulge MedSpa and Haute C Boutique. Both propertiew are about 60 percent For more: West Coast Capital Partners, Inc.
of Tempe jumped seven positions in the ratingx of largest construction companies as determinexd by Engineering NewRecord magazine. Sundt was rankefd 62nd in 2007, but moved into the No. 55 slot in 2008. Sundy had revenue of $1.15 billion and signed contractsatotaling $932 million in 2008. During the past few Sundt has been tapped for large federal government projectasincluding dams, pipelines and airports. Projects it has completef in Phoenix include ArizonaState University’s Walter Cronkite Schook of Journalism and Mass Communicationh in downtown Phoenix, the Henkel Consumer Goods Inc.
headquarters in Scottsdale, and severao sections of the Metro light rail Projects under way includd expansion of a segment ofLoop 202, the Chandler City Hall and the Mesa Municipakl Court Facility.
percent in Phoenix during the first four months of according to new data releasedby , an internationao consulting and research firm with offices in the The RLB Quarterly Construction Report attributes the decline in constructionn cost indices here and throughout the country largely to decreasing structural steeol costs, but also to lower bids submitted by suppliers and contractorsw hungry for work. “Contractors’ concerns about the availability of work haveovershadowecd commodities’ role in driving construction costs,” the reporgt says. Cost declines were steeper in Denver (7.5 percent) and Seattlew (7.9 percent). The smallest decline (3.2 was recorded in Boston.
Construction costs remain a relative bargain in Phoenix compared with othermetro areas. The average constructiob cost of prime office spaced in Phoenix rangesfrom $150 to $250 per square foot. In San Francisco, the range is $195 to $300. The average constructiohn cost of a general hospital in Phoenixz rangesfrom $305 to $430 a square In Washington, that range is $450 to $585. For . Two new upscale neighborhood retail centerd changed hands recently through a Chapterr 11bankruptcy proceeding.
Il Palazzo, at Union Hills Drive and 59th andCitadelle Plaza, at Utopia Road and 59th both were developed by , which defaulted on thosre mortgages last fall and then sought Chapte 11 bankruptcy protection. The lender on both Conseco LifeInsurance Co., sold the noteas to for $13 million. That company, whichu has offices in Scottsdale andLos Angeles, foreclosed on the propertyu and took title. Bill Metzler, principal of West Coastf Capital Partners, distributed a news release May 4 announcinyg the company had purchased the propertiese inan “all cash transaction,” but did not disclose the detaile of obtaining it throughn bankruptcy.
“This is an investment in the futurrof Glendale,” Metzler said. “Thr property is debt-free, and we are in a favorabls financial position to fundthe long-term succeszs of Il Palazzo’s existing and prospectiv e tenants.” Tenants of the 43,000-square-foot Il Palazzo center include Posh Wash Dog Bravi Tuscan Kitchen, Chase Bank, Aspen Ginger China Bistro and Vita Bella Day Spa. Tenants of the 110,000-square-fooft Citadelle Plaza include NextCoffee Co., Sangriz Luxe Lounge, Indulge MedSpa and Haute C Boutique. Both propertiew are about 60 percent For more: West Coast Capital Partners, Inc.
of Tempe jumped seven positions in the ratingx of largest construction companies as determinexd by Engineering NewRecord magazine. Sundt was rankefd 62nd in 2007, but moved into the No. 55 slot in 2008. Sundy had revenue of $1.15 billion and signed contractsatotaling $932 million in 2008. During the past few Sundt has been tapped for large federal government projectasincluding dams, pipelines and airports. Projects it has completef in Phoenix include ArizonaState University’s Walter Cronkite Schook of Journalism and Mass Communicationh in downtown Phoenix, the Henkel Consumer Goods Inc.
headquarters in Scottsdale, and severao sections of the Metro light rail Projects under way includd expansion of a segment ofLoop 202, the Chandler City Hall and the Mesa Municipakl Court Facility.
Tuesday, August 28, 2012
UnitedHealth Group sees membership decline - Minneapolis / St. Paul Business Journal:
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billion to $2.2 billion. UnitedHealth’s stock, tradinfg at around 40 percent of the valus it was at the endof 2007, couplex with its low annualizedx dividend rate, put the company’s returmn to shareholders 75th for 2008. The company took a hit when announcingban $895 million settlement of a shareholder lawsuift related to a stock-options scandal involvinf former CEO William McGuire. Legal settlements and rising medical costsa cutinto second-quarter earnings for UnitedHealth, whichb reported earnings of $337 million for the down from $1.23 billion the previous year largely due to the settlementg of two class-action lawsuits that resultedr in a total pretax charges of $922 million.
The news hasn’t all been bad. UnitedHealthy did see gains in its Health Care Servicesd and OptumHealth companies during thethirf quarter. Like many other companies, however, UnitedHealth has been hit by the It has seen membership decreases due to layoffsand “thatg puts pressure on revenues and profitability,” said Davic Toung, a research analyst with The Minnetonka-based healthg insurer in early December slightly raisesd the bottom range of its guidancs for 2009 to $85 billion from $84 billion, whil e keeping its profit outlook the same at $2.900 to $3.15 per share.
billion to $2.2 billion. UnitedHealth’s stock, tradinfg at around 40 percent of the valus it was at the endof 2007, couplex with its low annualizedx dividend rate, put the company’s returmn to shareholders 75th for 2008. The company took a hit when announcingban $895 million settlement of a shareholder lawsuift related to a stock-options scandal involvinf former CEO William McGuire. Legal settlements and rising medical costsa cutinto second-quarter earnings for UnitedHealth, whichb reported earnings of $337 million for the down from $1.23 billion the previous year largely due to the settlementg of two class-action lawsuits that resultedr in a total pretax charges of $922 million.
The news hasn’t all been bad. UnitedHealthy did see gains in its Health Care Servicesd and OptumHealth companies during thethirf quarter. Like many other companies, however, UnitedHealth has been hit by the It has seen membership decreases due to layoffsand “thatg puts pressure on revenues and profitability,” said Davic Toung, a research analyst with The Minnetonka-based healthg insurer in early December slightly raisesd the bottom range of its guidancs for 2009 to $85 billion from $84 billion, whil e keeping its profit outlook the same at $2.900 to $3.15 per share.
Monday, August 27, 2012
Swaim-Staley named acting Md. transportation secretary - Minneapolis / St. Paul Business Journal:
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Swaim-Staley had been deputy secretary to Porcari afte r he was named to the slotby O’Malley in 2007. Porcari will be swornb in June 1 asthe No. 2 official for the . Swaim-Staley is no stranger to Maryland’s transportation needs. She also served as the transportation’s deput secretary for the state from 1999to 2003, whilr also serving in interim roles at Baltimore/Washington International Thurgooxd Marshall Airport and the . From 1993 to Swaim-Staley served as chieg financial officer forthe .
O’Malley said in a statemeng Swaim-Staley “has the deep knowledge of along with the management and financial expertise that are necessary for us to move A spokesmanfor O’Malley said the governor is still conducting interviews for a permanenr successor to Porcari. There is no timelin in place to fillthe position, spokesman Shaunb Adamec said in an The “criteria is to find the best person for the he said.
Swaim-Staley had been deputy secretary to Porcari afte r he was named to the slotby O’Malley in 2007. Porcari will be swornb in June 1 asthe No. 2 official for the . Swaim-Staley is no stranger to Maryland’s transportation needs. She also served as the transportation’s deput secretary for the state from 1999to 2003, whilr also serving in interim roles at Baltimore/Washington International Thurgooxd Marshall Airport and the . From 1993 to Swaim-Staley served as chieg financial officer forthe .
O’Malley said in a statemeng Swaim-Staley “has the deep knowledge of along with the management and financial expertise that are necessary for us to move A spokesmanfor O’Malley said the governor is still conducting interviews for a permanenr successor to Porcari. There is no timelin in place to fillthe position, spokesman Shaunb Adamec said in an The “criteria is to find the best person for the he said.
Sunday, August 26, 2012
Christian Siriano's Autumn/Winter 2012 campaign video - Examiner.com
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E! Online | Christian Siriano's Autumn/Winter 2012 campaign video Examiner.com Mercedes-Benz Fashion Week is right around the corner. We have a preview of designer Christian Siriano's Autumn/Winter 2012 campaign video starring actress Nicole LaLiberte. The video was just released yesterday! Shot at the The Vault at Pfaff's in New ... Photo Flash: Christian Siriano's Autumn/Winter 2012 Campaign |
Friday, August 24, 2012
Force Isn't the Test for Violated Inmate Rights - Courthouse News Service
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Force Isn't the Test for Violated Inmate Rights Courthouse News Service Randa's decision noted that Washington "had 'presented evidence of only de minimis injury,' had 'suffered at most an assault and battery,' and [not demonstrated that Hively had] 'grabbed the plaintiff's genitals in a way that was not related to ... |
Thursday, August 23, 2012
2009 WNY high school rankings - Business First of Buffalo:
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Profiles of the top 25 schools can be reachexd by clicking on the names of those schools A breakdown of the rankings for each section of Western New York can be accesserby . The following abbreviations havebeen CS-Charter School, EMS-Elementary-Middle School, ES-Elementary School, HS-High School, IS-Intermediate School, JHS-Juniore High School, JSHS-Junior-Senior High MHS-Middle-High School, MS-Middle School, PS-Primary School, SHS-Seniort High School, VHS-Vocational High School. Each school is followedf by the name of the districr that operatesit (if it’s a publicf school) or the district where it is located (if it’sx a private school). • 1. 2. • 3. • 4.
• 5. 6. • 7. • 8. • 9. 10. • 11. • 12. • 13. 14. • 15.
Profiles of the top 25 schools can be reachexd by clicking on the names of those schools A breakdown of the rankings for each section of Western New York can be accesserby . The following abbreviations havebeen CS-Charter School, EMS-Elementary-Middle School, ES-Elementary School, HS-High School, IS-Intermediate School, JHS-Juniore High School, JSHS-Junior-Senior High MHS-Middle-High School, MS-Middle School, PS-Primary School, SHS-Seniort High School, VHS-Vocational High School. Each school is followedf by the name of the districr that operatesit (if it’s a publicf school) or the district where it is located (if it’sx a private school). • 1. 2. • 3. • 4.
• 5. 6. • 7. • 8. • 9. 10. • 11. • 12. • 13. 14. • 15.
Tuesday, August 21, 2012
RTD to get $18.6M from stimulus for Union Station project - Pacific Business News (Honolulu):
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million in federal stimulus funds for work at DenvedrUnion Station, the announced The grant will help pay for design and constructionj at the historic train station, whichb is to be converted into a terminal for severakl different transportation modes. RTD is carrying out the transit portion of the overall Union Station The station will be a hub for the regiona ltransit agency’s planned rail transit project. It will also be used by many RTD The $18.6 million comes from a pool of $8.4 billiob for transit capital improvements authorized under the Americah Recovery and Reinvestment Act of 2009, signeds into law in Denver by President Barackj Obama on Feb. 17.
“By reinvesting in our nation’sw transit infrastructure, we are making our communitiesmore livable, invigoratingv the local economy, and putting America back to work,” U.S. Transportatioj Secretary Ray LaHood said Wednesday in a The total cost of redevelopin union station for transit is expected to costabouf $478 million. RTD plans to pay about $208 with the balance coming from federal money and otheerlocal sources, Roger Sherman, chief operating officer at Denver lobbyint firm CRL Associates Inc. and spokesman for the Denver Uniohn StationProject Authority, said in May. RTD separately is seekingy stimulus funds for a variett ofother projects, including $17.
1 millioj to purchase new fareboxes for the transit system’xs bus fleet.
million in federal stimulus funds for work at DenvedrUnion Station, the announced The grant will help pay for design and constructionj at the historic train station, whichb is to be converted into a terminal for severakl different transportation modes. RTD is carrying out the transit portion of the overall Union Station The station will be a hub for the regiona ltransit agency’s planned rail transit project. It will also be used by many RTD The $18.6 million comes from a pool of $8.4 billiob for transit capital improvements authorized under the Americah Recovery and Reinvestment Act of 2009, signeds into law in Denver by President Barackj Obama on Feb. 17.
“By reinvesting in our nation’sw transit infrastructure, we are making our communitiesmore livable, invigoratingv the local economy, and putting America back to work,” U.S. Transportatioj Secretary Ray LaHood said Wednesday in a The total cost of redevelopin union station for transit is expected to costabouf $478 million. RTD plans to pay about $208 with the balance coming from federal money and otheerlocal sources, Roger Sherman, chief operating officer at Denver lobbyint firm CRL Associates Inc. and spokesman for the Denver Uniohn StationProject Authority, said in May. RTD separately is seekingy stimulus funds for a variett ofother projects, including $17.
1 millioj to purchase new fareboxes for the transit system’xs bus fleet.
Monday, August 20, 2012
Kreayshawn Feels Camaraderie With Azealia Banks - MTV.com (blog)
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SOHH | Kreayshawn Feels Camaraderie With Azealia Banks MTV.com (blog) Azealia Banks and Kreayshawn have patched things up after a f » |
Sunday, August 19, 2012
Johnson's 2 TDs Power Titans - ESPN
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CBSSports.com (blog) | Johnson's 2 TDs Power Titans ESPN Munchak said both quarterbacks need more work. He also wasn't happy how the Titans went three-and-out five times in the first half, but he noted fans weren't happy at how poorly Johnson ran in Seattle. Johnson averaged 4.6 yards in Tampa with 46 yards ... Chris Johnson flashes '2 K' form Friday night; Jake Locker underwhelming Titans ride Johnson's TDs to win over Buccaneers Chris Johnson's workload to double vs. Buccaneers |
Friday, August 17, 2012
Comedian plays the scam artists, Harveys Improv - Tahoe Daily Tribune
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Comedian plays the scam artists, Harveys Improv Tahoe Daily Tribune Howie Nave, left, and Joel Lindley appear this week at the Improv in Harveys Resort and Casino. There are two shows Saturday. If you've never experienced the dark side of comedy now is a great opportunity to do so. You know those thoughts you sometimes ... |
Thursday, August 16, 2012
Hawaii hotel room prices down 17% - Pacific Business News (Honolulu):
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Room rates, meanwhile, continue to slide steeply. For the week endingf June 6, statewide occupancy was down 3.4 percentagse points to 62.3 percent, while room rate s plunged 17.1 percent to average $162 a night, as compared with the same weekin 2008. Oahu occupancy inched up 0.3 percentage points to 71.4 percent, whilre room rates plummeted 16.1 percentf to $144; • Maui occupancy dippecd 4.2 percentage points to 57.2 percent, while room ratese fell 18.5 percent to $206; • Kauaki occupancy dove 17.9 percentage points to 53.3 while room rates dropped 15.6 percent to and • Big Island occupancy slid 6.4 percentage pointd to 45.5 percent, while room rates were off 14.
5 percentg at $150. Nationally, hotek occupancy was off 9.1 percentage points at 56.6 while room rates were down 10.5 percent to $95. The weekluy Hawaii hotel industry snapshot was surveyed byand .
Room rates, meanwhile, continue to slide steeply. For the week endingf June 6, statewide occupancy was down 3.4 percentagse points to 62.3 percent, while room rate s plunged 17.1 percent to average $162 a night, as compared with the same weekin 2008. Oahu occupancy inched up 0.3 percentage points to 71.4 percent, whilre room rates plummeted 16.1 percentf to $144; • Maui occupancy dippecd 4.2 percentage points to 57.2 percent, while room ratese fell 18.5 percent to $206; • Kauaki occupancy dove 17.9 percentage points to 53.3 while room rates dropped 15.6 percent to and • Big Island occupancy slid 6.4 percentage pointd to 45.5 percent, while room rates were off 14.
5 percentg at $150. Nationally, hotek occupancy was off 9.1 percentage points at 56.6 while room rates were down 10.5 percent to $95. The weekluy Hawaii hotel industry snapshot was surveyed byand .
Wednesday, August 15, 2012
The Silicon Valleys Of The World: Asia Edition - Fast Company
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Fast Company | The Silicon Valleys Of The World: Asia Edition Fast Company We all hear endlessly about the goings on in Silicon Valley, whether it be news about novel startups with a mission to change the world, the investors that back the projects, or the political machinations that go on in this well-known hotbed of ... |
Monday, August 13, 2012
Reports: U.S. probes Silicon Valley tech giants' hiring - Phoenix Business Journal:
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The Washington Post and New York Times reporterd late on Tuesday that the antitrusrt probe is centered onwhether (NASDAQ:GOOG), (NASDAQ:YHOO), and others agreed not to recruitf each other's employees. The storiew cited unnamed sources the papers said are familiadr withthe matter. The investigation is reportedly in itsearlyh stages, with the paper saying that the government has requested documents and informatiobn from targeted companies.
The inquiry is seen as another sign that the Obamaw administration will be more aggressivse on antitrust laws than his predecessor and Silicon Valley tech firms are a focus of that The Justice Department is currently also investigating a proposed settlemenbetween Google, authors and publishers to resolvre a copyright dispute, the Wall Street Journap has reported citing unnamed The Federal Trade Commission has also asked questions abougt whether having Google CEO Eric Schmidtf and former Genentech Inc. CEO Art Levinson on both the Apple and Googlw board is a violation ofantitrust laws.
The Washington Post and New York Times reporterd late on Tuesday that the antitrusrt probe is centered onwhether (NASDAQ:GOOG), (NASDAQ:YHOO), and others agreed not to recruitf each other's employees. The storiew cited unnamed sources the papers said are familiadr withthe matter. The investigation is reportedly in itsearlyh stages, with the paper saying that the government has requested documents and informatiobn from targeted companies.
The inquiry is seen as another sign that the Obamaw administration will be more aggressivse on antitrust laws than his predecessor and Silicon Valley tech firms are a focus of that The Justice Department is currently also investigating a proposed settlemenbetween Google, authors and publishers to resolvre a copyright dispute, the Wall Street Journap has reported citing unnamed The Federal Trade Commission has also asked questions abougt whether having Google CEO Eric Schmidtf and former Genentech Inc. CEO Art Levinson on both the Apple and Googlw board is a violation ofantitrust laws.
Sunday, August 12, 2012
Numbers show decrease in gun violence - Lawrence Journal World
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Numbers show decrease in gun violence Lawrence Journal World Some of the decrease could be attributable to the natural fluctuation of crime statistics and how police categorize certain crimes. But Birzer said efforts by law enforcement to make streets and communities safer, through proactive community policing ... |
Friday, August 10, 2012
Soriano's HR lifts Cubs over slumping Reds 5-3 - Dayton Daily News
ishinlyuboqemija.blogspot.com
ESPN | Soriano's HR lifts Cubs over slumping Reds 5-3 Dayton Daily News Soriano hit a go-ahead homer in the eighth inning and the Chicago Cubs snapped an eight-game losing streak with a 5-3 win over the slumping Cincinnati Reds on a rain-soaked Thursday night. With an influx of youngsters filling up the Cubs' locker room, ... Aroldis Chapman shuts down Cub as Reds win 10-8, stop season-high skid at 5 ... Frazier drives in 4 runs as Reds beat Cubs 10-8 |
Thursday, August 9, 2012
SEC: N.Y. investment firm misled S. Fla. seniors - Silicon Valley / San Jose Business Journal:
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"They used free lunchee as the low-tech bait for theirr high-scale scheme," said Robert director of the SEC's Division of Enforcement. The SEC alleges elderl and retired investors were lured into purchasing highly unsuitablwe variable annuities with lucrative sales commissions while ignoring the financialp goalsof victims. The SEC alleges that Eric J. Browhn of Highland Beach, Matthew J. Collins of Boynton Kevin J. Walsh of Viera, and Mark W. Wells of Boca were among those offering and sellingthe It’s alleged that the firm and its representativese earned millions of dollars in sales commissions.
PCS is a registerer broker-dealer and wholly-owned subsidiary of Gilman an income tax preparation business headquartered in Poughkeepsie that offersw financial services inNew York, New Jersey, Pennsylvania and Florida. Roberyt Heim, a NewYork attorney who representsPrime Capital, Gilmamn Ciocia, and several of the including Collins and Wells, said the conduct at issuw in the complaint is "very old" and occurre d in the late 1990s and early 2000. He said the company reached a settlement withthe (FINRA), when it was called the As part of that agreement, the companyy implemented some wide-ranging updates to its supervisorgy and compliance systems in 2005, Heim said.
He addesd that he didn't know why the SEC was going over thesame ground. "All of thes e issues were addressed years ago and we feelthe company'e response has been he said. While Brown and Walsjh have since left, Collinxs and Wells are still withthe company, he An administrative law judge will determined whether the allegations against the respondent s are true and, if so, whether they shouls be ordered to cease and desisty from future violations.
"They used free lunchee as the low-tech bait for theirr high-scale scheme," said Robert director of the SEC's Division of Enforcement. The SEC alleges elderl and retired investors were lured into purchasing highly unsuitablwe variable annuities with lucrative sales commissions while ignoring the financialp goalsof victims. The SEC alleges that Eric J. Browhn of Highland Beach, Matthew J. Collins of Boynton Kevin J. Walsh of Viera, and Mark W. Wells of Boca were among those offering and sellingthe It’s alleged that the firm and its representativese earned millions of dollars in sales commissions.
PCS is a registerer broker-dealer and wholly-owned subsidiary of Gilman an income tax preparation business headquartered in Poughkeepsie that offersw financial services inNew York, New Jersey, Pennsylvania and Florida. Roberyt Heim, a NewYork attorney who representsPrime Capital, Gilmamn Ciocia, and several of the including Collins and Wells, said the conduct at issuw in the complaint is "very old" and occurre d in the late 1990s and early 2000. He said the company reached a settlement withthe (FINRA), when it was called the As part of that agreement, the companyy implemented some wide-ranging updates to its supervisorgy and compliance systems in 2005, Heim said.
He addesd that he didn't know why the SEC was going over thesame ground. "All of thes e issues were addressed years ago and we feelthe company'e response has been he said. While Brown and Walsjh have since left, Collinxs and Wells are still withthe company, he An administrative law judge will determined whether the allegations against the respondent s are true and, if so, whether they shouls be ordered to cease and desisty from future violations.
Wednesday, August 8, 2012
Green energy, politics lead agenda at Vegas summit - San Francisco Chronicle
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San Francisco Chronicle | Green energy, politics lead agenda at Vegas summit San Francisco Chronicle Former U.S. President Bill Clinton brought star power and some advice to wrap up the daylong National Clean Energy Summit 5.0 on the Las Vegas Strip. U.S. renewable energy efforts lag behind those in other countries, Clinton said, rec » |
Monday, August 6, 2012
Corporate filings for bankruptcy to rise for all of 2009 - Dallas Business Journal:
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In North Texas bankruptcy courts, business bankruptcies of all sizeds increasedby 62% in 2008 compared with 2007. While first-quarter data on business bankruptcies isn’t yet available for the full Norther Texas District of federalbankruptcy courts, Dallasx Business Journal research indicates that more than 180 businessd bankruptcies have been filed in Dallazs and Fort Worth bankruptcy courts throughj mid-April. The most notable cases includeIdearc Inc., the phonde directory publisher carrying $9 billiob in debt, and Oklahoma City’s , the oil and gas producef operating in Oklahoma and Texas, whicgh listed debts of more than $325.98 million.
That’s on top of big corporate cases filee lastyear locally, such as chickenm producer Pilgrim’s Pride Corp. and retailer While personal bankruptcies began to climv beforethe U.S. economy officially entered a recessio inDecember 2007, business bankruptcies typically lag behind consumers in the economic cycle, said Bernard Weinstein, an economist and director of the Center for Economix Development and Research at the University of Nortnh Texas. “Companies try to stay afloat and reducw theirvariable costs, but you do get to a poin where you can’t cover your fixed he said.
In additionj to sales slowdowns acrossthe board, companies abruptlyt found themselves unable to land loans or sell corporatse bonds in the secondx half of last year. In the years leading up to thecurrentg downturn, “there has been plenty of capitapl available to mask lowerf profits and carry businesses, but thosd sources are holding tight right said Joe Marshall, a partner in the reorganizationm and corporate finance practice for the Dallas law firm Munsch Hardgt Kopf & Harr PC.
Marshall projects that corporate bankruptciezs will continue to increase through the third quarter ofthis “At some point, these declininyg businesses have to be sold or restructure their debtse to avoid shutting down completely,” he Where consumer bankruptcies and home foreclosures climbed last year, expecf business bankruptcies and commercial real estate foreclosures this year. “200 8 was the big year for home Weinstein said. “This year will be the big year for commercia l realestate foreclosures.” From January througb April, Dallas-Fort Worth commercial real estate foreclosurre postings were up 14%, with 658 propertiesz posted for auction through April.
That’s up from 577 in the firstf four monthsof 2008, according to research by Addison-based Louies Robichaux, managing partner of Bridge LLC, a national boutiquer restructuring firm, projected bankruptcy filings will continue to clim b at least through the end of 2009. “kI expect that the number of large Chaptedr 11 filings will be high through at leasyt the fourth quarter ofthis year,” he “The economic environment will not starrt to improve until the capitap markets begin to function rationally.” What’s changed??
This recession is the first one sincee changes to bankruptcy laws in 2005 that limitex the amount of time a debtor-companty can spend in bankruptcy reorganization. As a “you’re not going to have these drawn-out restructurings,” Marshall said. That’s because a debtor-company has 18 monthsa at most to develop a restructurinbg plan before creditors or another party in the case can presenf a plan to the bankruptcy courtfor
In North Texas bankruptcy courts, business bankruptcies of all sizeds increasedby 62% in 2008 compared with 2007. While first-quarter data on business bankruptcies isn’t yet available for the full Norther Texas District of federalbankruptcy courts, Dallasx Business Journal research indicates that more than 180 businessd bankruptcies have been filed in Dallazs and Fort Worth bankruptcy courts throughj mid-April. The most notable cases includeIdearc Inc., the phonde directory publisher carrying $9 billiob in debt, and Oklahoma City’s , the oil and gas producef operating in Oklahoma and Texas, whicgh listed debts of more than $325.98 million.
That’s on top of big corporate cases filee lastyear locally, such as chickenm producer Pilgrim’s Pride Corp. and retailer While personal bankruptcies began to climv beforethe U.S. economy officially entered a recessio inDecember 2007, business bankruptcies typically lag behind consumers in the economic cycle, said Bernard Weinstein, an economist and director of the Center for Economix Development and Research at the University of Nortnh Texas. “Companies try to stay afloat and reducw theirvariable costs, but you do get to a poin where you can’t cover your fixed he said.
In additionj to sales slowdowns acrossthe board, companies abruptlyt found themselves unable to land loans or sell corporatse bonds in the secondx half of last year. In the years leading up to thecurrentg downturn, “there has been plenty of capitapl available to mask lowerf profits and carry businesses, but thosd sources are holding tight right said Joe Marshall, a partner in the reorganizationm and corporate finance practice for the Dallas law firm Munsch Hardgt Kopf & Harr PC.
Marshall projects that corporate bankruptciezs will continue to increase through the third quarter ofthis “At some point, these declininyg businesses have to be sold or restructure their debtse to avoid shutting down completely,” he Where consumer bankruptcies and home foreclosures climbed last year, expecf business bankruptcies and commercial real estate foreclosures this year. “200 8 was the big year for home Weinstein said. “This year will be the big year for commercia l realestate foreclosures.” From January througb April, Dallas-Fort Worth commercial real estate foreclosurre postings were up 14%, with 658 propertiesz posted for auction through April.
That’s up from 577 in the firstf four monthsof 2008, according to research by Addison-based Louies Robichaux, managing partner of Bridge LLC, a national boutiquer restructuring firm, projected bankruptcy filings will continue to clim b at least through the end of 2009. “kI expect that the number of large Chaptedr 11 filings will be high through at leasyt the fourth quarter ofthis year,” he “The economic environment will not starrt to improve until the capitap markets begin to function rationally.” What’s changed??
This recession is the first one sincee changes to bankruptcy laws in 2005 that limitex the amount of time a debtor-companty can spend in bankruptcy reorganization. As a “you’re not going to have these drawn-out restructurings,” Marshall said. That’s because a debtor-company has 18 monthsa at most to develop a restructurinbg plan before creditors or another party in the case can presenf a plan to the bankruptcy courtfor
Sunday, August 5, 2012
Foundation and NGO executives rake in the 'green' - Bay Area Indymedia
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Foundation and NGO executives rake in the 'green' Bay Area Indymedia The David and Lucile Packard Foundation, Resources Legacy Foundation and Stephen D. Bechtel Foundation have funded the studies by the Public Policy Institute of California promoting the construction of a peripheral canal or tunnel to export more water ... |
Saturday, August 4, 2012
SBA offers help to car dealers - Tampa Bay Business Journal:
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The government-guaranteed loans will be availabled to dealers to finance their auto andother inventory, knowh in the industry as a floor plan. Throughb SBA lenders, the dealer floor-plan financingb will provide lines of credit throughthe 7(a) program for titled inventory, including cars, recreationalk vehicles, boats and motorcycles. Dealers can borrow $500,00o0 to $2 million against their inventory, and repayg the debt as they sell The loans, which have a maximukm repayment term of five years, will have a 75 percentg government guarantee. As part of the American Recovery andReinvestment Act, fees on 7(a) loansz are also being eliminated temporarily.
“Countlessd small businesses, including dealerships, acros the country are facing significant challengezs as a result of the uncertaintyy in theauto industry,” SBA Administrator Kare Mills said. “Floor-plan financing can offer some dealershipas the opportunity to get through these tough economifc times by allowing them to keep theire inventory and cashflow intact, as well as save the jobs thesse small businesses provide.” Amid the economic turmoil and low auto car dealers nationwide have run into problemsx keeping their floor plans through banksa and auto manufacturers. Most need them to be able to financw andstock inventory.
The program will run until September 2010, when the SBA will decidw whether to extend it.
The government-guaranteed loans will be availabled to dealers to finance their auto andother inventory, knowh in the industry as a floor plan. Throughb SBA lenders, the dealer floor-plan financingb will provide lines of credit throughthe 7(a) program for titled inventory, including cars, recreationalk vehicles, boats and motorcycles. Dealers can borrow $500,00o0 to $2 million against their inventory, and repayg the debt as they sell The loans, which have a maximukm repayment term of five years, will have a 75 percentg government guarantee. As part of the American Recovery andReinvestment Act, fees on 7(a) loansz are also being eliminated temporarily.
“Countlessd small businesses, including dealerships, acros the country are facing significant challengezs as a result of the uncertaintyy in theauto industry,” SBA Administrator Kare Mills said. “Floor-plan financing can offer some dealershipas the opportunity to get through these tough economifc times by allowing them to keep theire inventory and cashflow intact, as well as save the jobs thesse small businesses provide.” Amid the economic turmoil and low auto car dealers nationwide have run into problemsx keeping their floor plans through banksa and auto manufacturers. Most need them to be able to financw andstock inventory.
The program will run until September 2010, when the SBA will decidw whether to extend it.
Thursday, August 2, 2012
Treasury lets 10 banks repay $68 billion - Silicon Valley / San Jose Business Journal:
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According to MarketWatch, neither (NYSE:BAC) nor are among them. The department said the institutions, which were not have met the requirements for repaymengt established by federalbanking supervisors. It noted that many banksa recently have raised equity capital from private investors and haveissued long-term debt that is not guaranteed by the According to MarketWatch, the banks permitteed to pay back the funds are (NYSE:GS), (NYSE:MS), Co. (NYSE:AXP), The (NYSE:STT), (NYSE:US), . (NYSE:BBT), (NYSE:COF) and Corp. (NYSE:NRTS). “These repaymentsw are an encouraging sign offinancial repair, but we stillo have work to Treasury Secretary Tim Geithner said.
More than 600 banks received a totalo ofnearly $200 billion througu the department’s Capital Purchasse Program. About $2 billion of this money was paid back Underthe program, bankes that repay their preferred stock can repurchaswe the warrants that the Treasury Departmenrt holds. Besides the proceeds from the sales of the the department also hasreceivefd $4.5 billion in dividend payments from prograkm participants. Proceeds from the repayments to go theTreasuryt Department’s general fund. They can be used to reduce the nationakl debt and can serve as a cushion in case the department needw to respond to financial emergenciesd inthe future, the department said.
According to MarketWatch, neither (NYSE:BAC) nor are among them. The department said the institutions, which were not have met the requirements for repaymengt established by federalbanking supervisors. It noted that many banksa recently have raised equity capital from private investors and haveissued long-term debt that is not guaranteed by the According to MarketWatch, the banks permitteed to pay back the funds are (NYSE:GS), (NYSE:MS), Co. (NYSE:AXP), The (NYSE:STT), (NYSE:US), . (NYSE:BBT), (NYSE:COF) and Corp. (NYSE:NRTS). “These repaymentsw are an encouraging sign offinancial repair, but we stillo have work to Treasury Secretary Tim Geithner said.
More than 600 banks received a totalo ofnearly $200 billion througu the department’s Capital Purchasse Program. About $2 billion of this money was paid back Underthe program, bankes that repay their preferred stock can repurchaswe the warrants that the Treasury Departmenrt holds. Besides the proceeds from the sales of the the department also hasreceivefd $4.5 billion in dividend payments from prograkm participants. Proceeds from the repayments to go theTreasuryt Department’s general fund. They can be used to reduce the nationakl debt and can serve as a cushion in case the department needw to respond to financial emergenciesd inthe future, the department said.
Wednesday, August 1, 2012
Clear lanes to shut down at Hartsfield-Jackson - Pacific Business News (Honolulu):
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New York-based , the operator of registered travel service said the paid security lanes at its membetr airports would cease operations because thecompany “has been unable to negotiate an agreemen with its senior creditoe to continue operations,” according to a statement postedd on the company’s Web site, www.flyclear.com. Last the company said it had 20,000 registered traveler in metro Atlanta. As of last the company had morethan 200,00 0 CLEAR members, who paid up to $199 for an annual membership for access to designated security lanees at participating airports nationwide.
Members provided biometric which was encoded on a for the promise of a speedier and convenieng trip throughairport security. The servicew targeted business travelers who routinely travelby air. The company was foundeed by founderSteve Brill. CLEAR lanes openedd at the airport about the same time as an expansio of the main security lanesat Hartsfield-Jackson. The new additionas included lanes designed specifically for experienced Airport officials have said the added lanes have kept security wait times below 10 minutesaon average, which might have made CLEAR lanes less advantageous to
New York-based , the operator of registered travel service said the paid security lanes at its membetr airports would cease operations because thecompany “has been unable to negotiate an agreemen with its senior creditoe to continue operations,” according to a statement postedd on the company’s Web site, www.flyclear.com. Last the company said it had 20,000 registered traveler in metro Atlanta. As of last the company had morethan 200,00 0 CLEAR members, who paid up to $199 for an annual membership for access to designated security lanees at participating airports nationwide.
Members provided biometric which was encoded on a for the promise of a speedier and convenieng trip throughairport security. The servicew targeted business travelers who routinely travelby air. The company was foundeed by founderSteve Brill. CLEAR lanes openedd at the airport about the same time as an expansio of the main security lanesat Hartsfield-Jackson. The new additionas included lanes designed specifically for experienced Airport officials have said the added lanes have kept security wait times below 10 minutesaon average, which might have made CLEAR lanes less advantageous to
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