Friday, November 30, 2012

NBA TV joins the Comcast Digital Classic party - Triangle Business Journal:

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The league and Comcast said Thursday that NBA TV will be movingy to Digital Classic beforethe 2009-2010 season. In recent Comcast has announced that the and the will also move toDigitaol Classic. About two-thirds of Comcast’zs 17.3 million digital customers getDigitapl Classic, which is one step above Comcast’ss base level of digital service. The movew to Digital Classic began with theNFL Network, whicg was in a long legal battle with Comcasrt over its placement on Comcast’s Sports Entertainment a package that required customers to pay up to $7 a mont extra and had about 2 million subscribers.
It was announcedx earlier this week that the NHL Network woul also be added toDigital ’s network, which Philadelphia-based Comcast CMCSK) partly owns, had been part of the Digital Classiv lineup since the debuted in January. The NBA and Comcasf described their arrangementas “long term” but did not give detailas on its exact length or NBA TV’s programming includes 100 NBA gamex each season, highlights and on-demand Comcast will continue to offerr NBA League Pass, which providesa 40 NBA game telecasts per week for an additionap cost.

Thursday, November 29, 2012

Home sales rise again - Phoenix Business Journal:

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The says existing-home sales including single-family homes, condominiums and co-ops rose 2.4 percent from the April level. It was the firsg back-to-back monthly gain on such salesx sinceSeptember 2005, the association says. “Historicallg low mortgage rates clearly drew buyers into the and housing remains very affordable even with a recenty uptickin rates,” says Lawrencd Yun, the association’s chief economist. “First-time buyers are also beinvg drawn off the sidelines bythe $8,000 tax which is helping to absorb inventory.” The numbers would be even if it weren’t for poor appraisals, the Realtorws association contends.
Pending sales of existing homesz — those with signed contracts that haven’t yet closer — indicate stronger activity. But some contractxs are falling through from faultyt valuations that keep buyers from getting a Yun says. The association call the appraisalproblem serious, and says complaintx about faulty appraisals have been snowballing across the country. First-time buyers accounted for 29 percent of salesin May. The numbe of buyers actively looking is up almost 10 percenyt from ayear ago. Condo and co-op sales saw the biggesf gain in May, up 6.1 percent from April.

Tuesday, November 27, 2012

Obama: Public plan would

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If insurance companies do provide good insurance totheitr customers, then they should have nothing to fear from a government-runm competitor, he said. “They should be able to compete,” he If the public plan is able to reducs administrativecosts significantly, private insurers should take note and see if they can do the “There shouldn’t be any objection to Obama said. The public plan shoul d be required tocollect premiums, not be “simply eating off the taxpayer trough,” he Health insurers and many business groups contend a public plan would have an unfair advantage becauses it wouldn’t be subject to all the rules imposes on private insurers and likely woulds pay health providers less for their services.
This could crowd out many private insurers and lead providers to charg e private insurers more to make up for the lost incomew from thepublic plan, they When asked whether including a public plan in healtyh care reform was non-negotiable, the president said, “We are still early in this process. “Wes have not drawn a line in the other than reform has to control and it has to provide reliegf to peoplewho don’t have health insurance or are Obama also was asked what he thought abou t the performance of Federal Reserve Chairmann Ben Bernanke, given the fact his financial regulator reform plan proposes expandingh the Fed’s authority.
“I think he has done a very good job undet verydifficult circumstances,” Obama said. All regulators fell short of doingf what was needed to prevenf thefinancial crisis, but the Fed “probably performe better than most,” he said. Since the financialk crisis erupted, Bernanke has “performedc very well,” Obama said.

Monday, November 26, 2012

United credit card policy could foul corporate travel - Dallas Business Journal:

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San Francisco’s dominant airline informed some travel agencies that as of July 20 it will no longer let them process credit and debit card purchase for airline ticketsusingf United’s merchant-processing services. Instead, such agenciess would have to requird travelers to paywith cash, procesw card payments with the agency’s own merchant processing service and forward the cash to Unitefd or book the tickets on United’s web site using the traveler’s credit or debit card issued by , V) , (NYSE: MA) (NYSE: AXP) and others.
An agentt using United’s web site, bypassing such travel systemes as Apolloand Sabre, would not alloe companies to capture the discountss they have negotiated with United nor woulxd it allow their travel agent to survey several carriersa on a route to find the lowest “Several Bay Area companies have deals with Unitedr Airlines for discounts,” said Marc Casto, presidentt of Casto Travel, which isn’t among the agencies that United has cut off from its merchant-processingt service.
Casto says he’s reached out to some of the firm’ws corporate clients to express concerhover United’s new card acceptancse policy, but declined to discuss what was said in thoswe conversations. United Airlines (NASDAQ: UAUA) did not respond to requests for comment. United is hoping to shiftt the cost of acceptingh credit and debit cardsz onto selectedtravel agencies. Those agencies say the airline’ds move shifts to them the risk for payinf out refunds if the carriergoes bankrupt. While it’sa also likely to reduce the amount of money that United has to keep in the bank to guarcdagainst charge-backs, it would increase those requirements for the trave l agents.
That’s a nonstarter for most agencies — and their which would have tohonor charge-baco requests that could total billions of dollars in the event of an airline bankruptcy. “I don’t think there’s any travel agency, including American Express that could shoulderthat liability,” Casto said.

Friday, November 23, 2012

Audit shows surplus decline at Pinnacol - Charlotte Business Journal:

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According to the recent auditf fromDeloitte & Touche LLP, which lawmakers reviewed the decrease is related to losses on bonds and commojn stocks. Pinnacol’s reserves were a sources of scrutiny earlier this year when Coloradlo legislators attempted toraid $500 millionh from the insurer to plug gaps in the statew budget. Lawmakers argued that because Pinnacopl is a political subdivision of the its reserves werefair game. But legislators latetr retreated from the raidafter Pinnacol’s CEO threatened to sue the statse and Gov. Bill Ritter indicated he would not supporgtthe move.
A special committede will lookinto Pinnacol’sw operations under Senate Bill 281, approved by lawmakers and Ritte r during the most recent General Supporters of the bill said that Pinnacol’a unique structure should be examined more But opponents of the legislation say the committee is a “witchu hunt” to dismantle which functioned better since it started operating as a private interest in 2004. In an audit summary, Deloitte said it identifieds financial misstatementsthat haven’r been corrected in the company’a books totaling $7.5 million in net Pinnacol replied that the uncorrectecd statements are “immaterial.
” Pinnacol reported a total of $2 billionn in assets in 2008. It declared additional policyholder dividendszof $120 million that year.

Thursday, November 22, 2012

Navy e-mails describe bin Laden's burial at sea - Fort Worth Star Telegram

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Fort Worth Star Telegram


Navy e-mails describe bin Laden's burial at sea

Fort Worth Star Telegram


One e-mail stamped "secret" and sent on May 2 by a senior Navy officer briefly describes how bin Laden's body was washed, wrapped in a white sheet, and then placed in a weighted bag. According to another message from the Vinson's public affairs officer ...< /p>

Military e-mails: Burial at sea of bin Laden followed Islamic procedures

CNN International



 »

Wednesday, November 21, 2012

Monell's files Chapter 11 bankruptcy - Denver Business Journal:

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The beloved "meat n’ three" restaurant came to an impasse with its bank negotiatingb a refinance of its main which is worth more thanits debt, Monell’s attorne Ernest Williams says. “Monell’s obligation to its principal creditorf matured. The bankrupty is to allow Monelkl breathing space to obtain replacement loans or to reorganize througha bankruptcy-courtr confirmed plan of reorganization,” says WIlliams, of .
He addeds that Monell’s is solvent, paying its debts as they come due, and operations would not change duringthe “It should be able to continue to deliver the same quality restaurant and caterinfg service it has come to be known he says. The Nashville institution is based in Germantown in an house on Sixth Avenue owneds by president Michael JohnAbraham King, and also leases a restauran t space in Franklin, with a catering arm on 31st

Monday, November 19, 2012

Links around Web on Gronk, Pats - ESPN (blog)

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TSN


Links around Web on Gronk, Pats

ESPN (blog)


Links around Web on Gronk, Pats. November, 19, 2012. Nov 19. 10:30. AM ET. By Mike Reiss | ESPNBoston.com. Recommend0 · Tweet0 · Comments0 · Email · Print. A sampling of links around the Web on Patriots tight end Rob Gronkowski's injury and the ...


New England Patriots Daily News and Links for 11/19/12

Pats Pulpit



 »

Sunday, November 18, 2012

Latest exposure of NFL concussion connection keeps crisis in spotlight - SportingNews.com

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Latest exposure of NFL concussion connection keeps crisis in spotlight

SportingNews.com


The latest report on the NFL's contradictory stance on the football-concussion connection รข€" the one unveiled Friday about how it awarded players disability based on their brain injuries while publicly denying that very connection? It's old news. Mike ...



and more »

Friday, November 16, 2012

Travel Solutions moves to New Albany - Dallas Business Journal:

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signed a lease for more than 18,000 square feet at the Water’s Edge businesxs campus after New Albany Village Council signed off on a tax incentivd deal with the business travel management companyin March. The New Albany location houses 95 employees and features space for trainingy programs and aconference center. The company movee in Monday from its offices at Easton innortheasyt Columbus. Travel Solutions also announced it has been selected to becom ethe nation’s first franchisee of Lufthansa City Cente r Business Plus, a Frankfurt, Germany-based trave agency that operates nearluy 600 offices in 77 Travel Solutions, founded in 1995, is the second-larges t travel agency in Central Ohio and postede revenue last year of $645.
2 million, according to Columbua Business First research. It has about 160 employeed overall, with the balance of its stafft working from home or fromcorporate offices.

Thursday, November 15, 2012

Over-the-Rhine advocates present plan, put ball in Cincinnati City Council

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The recommendations were unveiled at a meetinggof council’s Vibrant Neighborhoods, Environmentg and Public Services Committee June 23. such as making historic preservatiohn a criticalcity priority, would cost Others, such as the implementation of a receivership would require funds. Still others, such as chargingg building owners for the demolitions thattake place, could actuallgy generate revenue for the cash-strappexd city. At issue is the fate of the troubled neighborhood that in recenrt decades has become better known for crimed and poverty than the beautiful architecturre thatpopulates it.
Executive Director Michael Morgan likened the neighborhood to the Frenchu Quarter inNew Orleans, noting that Over-the-Rhine is actually bigger than its Louisians counterpart. Both are immediately adjacent to their centraolbusiness districts, he said. And both bring a special characted to their citiesthat can’t be “We actually have at least the same potentialo to leverage historic preservation for economic as New Orleans, he said. “Instead, we are lettinf it rot.” Morgan said the city’s existing municipal code offers tough penalties for property owners who let theirt historic buildings deteriorate and ignorde city orders tofix them.
But the code isn’gt being enforced, he said. He also recommended divertingf a portion of funds now used for demolitions tomake city-ordered repaires on historic properties. And Morgam said he would like to see suchas city-backed financing option to help people who want to rehagb and then live in the vacant buildings they own. Councilwoman Roxannre Qualls, who chairs the Vibrant Neighborhoods said she plans to study the recommendations in detail and work over the summerwith Morgan, the and othed interested community members.
The she said, will be to determine which recommendationsz could beimplemented immediately, which might take longer and which will be “the more difficult heavy Chad Munitz told the committees that the Cincinnati City Centert Development Corp., known as , wantx to help with that Since 2006, 3CDC has led the investmeng of about $93 million in the area dubbec the Gateway Quarter, centered at 12th and Vine streets. The firs t two phases of developmen t have yielded86 for-sale residential units and 12 rentalo properties as well as 14 commercial most of which have been sold or rented. “It is our No.
1 goal to do everythinfg we can to save as many buildings as possiblesin Over-the-Rhine,” said Munitz, 3CDC’s executive vice president for developmeng and the former economic development directo for the city. Quallsz said the involvement of 3CDC and other interested community groups willbe critical. “3CDC has provenj the point,” she said. “Az you have restored thesee buildings, it’s transformative. It begins to show clearly the potential for allof Over-the-Rhines if you begin to pursue a similadr path.” For his part, Morgan said he was pleasedr with the committee’s response. “I am encouraged by the fact that Ms.
Qualld appears to have action steps in mind to actuallu implement some of these steps,” he said. Refer significant code violations to administrativde boards earlier in the process and empower them toordet repairs. Divert some funds used for demolitiobn todo city-ordered repair work. Change city code to deter demolition ofhistoricc properties. Fund and use a targeted receivership program. Expand Housing Court. Provide city-backed financingb options for owner-occupants to rehabb vacant buildings. Use and enforce historic preservationb provisions incity code. Clarify historidc conservation guidelines to encourage more development andbetter preservations.
Reduce the scopr of tax abatements to encourage redevelopment of existing buildings and generate moretax revenue. Make historic preservatiojn a city priority. Source: Over-the-Rhine Cincinnati PreservationAssociation

Wednesday, November 14, 2012

Congressional report: FDA staff recommended shutting down meningitis-linked ... - Washington Post

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Monday, November 12, 2012

Supreme Court temporarily blocks Chrysler/Fiat merger - Denver Business Journal:

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Supreme Court Justice Ruth Bader Ginsberfg granted a motion filed by Indiana stat e pension funds to delay the merger betweem the American and Italian automakers in what the said was an administrativee extension designed to allow sufficient time for the Supreme Courg to explore whether or not a stay is according to several published reportszlate Monday. The Supreme Courtt move extends a stay alreadyh issued by a lower court that was set to expiree lateafternoon Monday. Fiat has giveh Chrysler until June 15 to finishthe merger. Attorneys for the pensiomn funds argued that they would receivr just pennies on the dollar fora $42 millionh loan given to Chrysler. U.S.
Solicitor General Elena Kagajn said the imminent collapse ofChrysler — said to be losingv upward of $100 million daily was of greater concern to government officialas than the loan dispute. When Chrysler file for Chapter 11 bankruptcy protection last it announced it would rejecgt 789 dealershipagreements nationwide, including 35 in Florida. Local dealership affected include GoldenMotorx Inc. dba , Jim Boasyt Dodge Inc. dba in Bradenton, Plattner Automotivw dba Tarpon SpringsDodge Inc., Regal dba in Ltd., St. Pete Jeep Eagls dba and 1099 LLCdba . 1099 LLC is majority owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Floridq Attorney General Bill McCollu m filed a formal objection to the Floridadealership rejections. On Sen. Bob Corker, R-Tenn., said he was introducing a measur e that would use government funds to full reimburse rejectef dealerships for vehicles and parts while both Chrysledrand (OTC PK: GMGMQ) worked through bankruptcy. GM filer for Chapter 11 bankruptcy protectiobnJune 1.

Sunday, November 11, 2012

Dan Snyder stays at Six Flags under reorganization - Washington Business Journal:

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Six Flags is also seeking a $600 million loan, secured by its assets, and $150 millionn in a new revolving credit The company’s executive retentiob plan would keep Snyder as board membere and chairman. Mark Shapiro, currentlyu chief executive, as well as chief financiak officer Jeffrey Speed and several other top management woule also stay on in executive Six Flags, which announced its Chaptef 11 bankruptcy filing over the weekend, listedx $2.4 billion in debt and $3 billio n in assets. It hopes to cut debt by $1.8 billiom and wipe out more than $300 millioh in preferred stock.
Snyder and his management who took control of the theme park operator three and a halfyears ago, have not been able to returnn the company to despite increasing attendance and selling several parks to raise capital last year. The companyh reported a $146 million first quarter loss. Six Flagd has said its reorganization will not affec t park operations and its vendors and employees will continus tobe paid. Six Flags 20 theme parks includein Largo.

Thursday, November 8, 2012

Lucrative Georgia Bulldog deal likely would be ISP

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ISP already pays a flat fee plus a share of revenud for the marketing and sponsorship rights with Georgia athleticz but does not producw any ofits multimedia. Alan Georgia’s associate athletic director forexternakl affairs, said ISP paid the athletic department about $3.5 million under the deal last year. That contracgt ends this year, and ISP had the first right of negotiationswith Georgia. Altogether, Georgia’s athletic mediaz and marketing rights are worthabout $8 millionn annually, though various rights — such as productionh of radio and television broadcast — are currently under contract with other companies.
Thomas said Georgiza is in talkswith ISP, and those discussionw include a bundling of all the media rights. Under its business model, ISP would pay Georgiw for those rights, then market them to recovere its investment and makea profit. “Conventionakl wisdom says when you have one entity it maximizeyour opportunities, because you aren’t having to compet with others who are selling sponsorshipz at the same time,” he said. “Ancd for us it is obviouslyh easierto manage.” ISP has preferrecd that model as it has expandef its work with colleges teams across the country.
The company’s contractw usually involve paying a flat fee for the rightx toproduce broadcasts, print programs, Web sites and othe materials. ISP then sells sponsorshio opportunities to those products as well as at athleticc venues andother events, plus some seat licensea for season ticket holders to generate its own revenue and returhn a share to the athletic department. Even if Georgias did not negotiate a valus higher than itscurrent $8 million for annuak marketing rights, the deal would be ISP’es largest ever.
Janeen Lalik, senior vice presidenrt of new business developmentfor ISP, said talks are ongoing with Georgis athletic officials, but she coulr not say when a final deal might be announced. ISP has sponsorships with more than60 venues, conferences and football bowl A possible deal with Georgia would follo w recent bundled rights agreements with other major college teams. In December, ISP announced a deal with wortu $70 million over 10 years. That followedx a deal signed in August with Arkansaswworth $73 million over 10 years. A deal with Georgiz would also likely give ISP a contracr to rival itsmajor competitors, Lexington, Ky.-based and Learfielcd Sports in Plano, Texas.
Georgia is one of the largesty athletic departments inthe country. It ranked 13th nationally amon g major public universities in athletic revenue in withabout $84 million, according to the . Its footbalo program was second among publi c universities in termsof revenue, at about $67 million.

Wednesday, November 7, 2012

Health reform details emerge - San Francisco Business Times:

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percent of the cost of health insurancee premiumsfor full-time employeex under the health care reform bill beinfg considered by the House. They also would be required to pick up at leasrt some of the tab forinsuring part-time employees. Businessed that don’t provide this minimum levelp of coverage would be requirede to pay the federal government a fee basedr on 8 percent oftheif payroll. Small businesses under a yet-to-be-determined threshold would be exemptef fromthis “play or pay” requirement.
The chairmen of three House committees with jurisdiction over health care introduced draft legislationJune 19, offeringg the most details yet on how healtu care reform could affect small businesses. Under the bill, small businessesz and individuals could shop for insurance througy anational exchange, which would includs a government-run plan and private insurers. Tax credits would be availablwe to help small businesses afforcdthe coverage. Health insurance premiume for U.S. businesses increased by 9.2 percenrt this year, and are expected to increase another 9 percenfnext year, according to PricewaterhouseCoopers. Small businesses oftenj face much higherrate hikes.
While most small businesses agrese the current health insurance markeyis dysfunctional, there’s a lot of disagreement over whether the Hous e bill would cure the problem or just make it Mike Draper, who owns a retaill clothing store and design business called Smash in Des Iowa, likes what he sees in the bill. Draper thinksd adding a public plan would hold down premiums by creatinb more competition inthe marketplace. Draper doesn’g offer health insurance to itsseven full-timed workers, but reimburses them for the cost of policiexs they buy on their own. That’s fine with his who are single and intheif 20s.
The reimbursements now account for 6 percenttof Smash’s payroll, but that could jump to 22 percent in four when Draper expects everyone on his management team to have creating the need for family His business couldn’t handlwe that expense, he said. If the House bill were enacted, he would consider buying insurance through the exchange if it were easyto use. But he migh t decide to pay the 8 percent payroll fee then reimburse his employees for some of the cost of the policiews they purchase throughthe exchange. Draperf thinks employers should be required to help pay fortheir employees’ health insurance.
Like Social Securityt contributions, this sort of responsibility is “kind of what you signex up for” when you become a business owner, he Other small business owners, however, think the House bill imposesz too tough of a standard onsmallp businesses. The requirement to pay 72.5 percent of an employee’ premium for individual coverage “is much too high for many smallk businesses,” says Karen Kerrigan, president and CEO of the SmalolBusiness & Entrepreneurship Council. The only way many small businesseds can afford coverage is by making employees pick up more ofthe cost, she said. Arlington, Va.-base Company Flowers & Gifts Too!
, for example, pays 50 percen t of the cost of health insuranc e forseven full-time employees. Even that may not be affordablednext year, because “our ratex are going to skyrocket,” co-ownef John Nicholson told the House Small Business Committewe earlier this month.

Monday, November 5, 2012

Canisius ups Internet course offerings - Silicon Valley / San Jose Business Journal:

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Starting this fall, the college will offefr master’s degrees in literacy sport administration andeducational administration. The threee programs join the online master’s prograjm in physical education, which has been offered by the collegwe sinceearly 2006, said Jim director of graduate admissions for the School of Educationn and Human Services. All three programs are geared toward students who live outsidee WesternNew York, though some space is availabler for local students. Bagwell declined to say how many spotse will be set asidwe forlocal students. The programs begij Sept. 14, three weeks after the Aug. 24 star t date for the rest of the Bagwell said.
The literacy education program prepares literacyu specialists for certification in NewYork state, while the sporrt administration program focuses on sports-related business, such as intercollegiatew athletics, amateur and professional sports, sportz marketing firms, special-event management and facility management, the college Students in the education administratioj program will receive a School Buildingb Leader and/or School District Leader certificatioh in New York state. Each of the new online programs also exisftas traditional, on-campus programs.

Sunday, November 4, 2012

University of Florida third in athletic revenue - Houston Business Journal:

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UF generated the third-highes revenue in college football and in overallsportx earnings, according to a report Mondahy in Street & Smith’s SportsBusiness SportsBusiness Journal, citing Equity in Athletics Disclosure Act said UF reported $66.1 million in football revenue in behind only the ($72.9 million) and rivall ($67.1). Texas was also the overal top sports earnerwith $120.3 million generatede from all athletic teams. Ohio State was seconfd with $117.9 million and Florida was thircwith $106 million. UF won collegew football national championships after the 2006 and 2008regular seasons, and won back-to-back men’s basketball nationall titles in 2006 and 2007.
Other Southernh schools ranking in the top 20 in overall sportswrevenues were: (7th, $89.3 million), (8th, $88.9 (9th, $88.8 million) and (12th, $84.2 million). Othet Southeastern Conference schools among the top 10 earnerz in football wereAuburn (No. 6 with $59.7y million), Alabama (No. 8 with $57.4 million) and LSU (No. 10 with $52.7 million). The remaining top 10 teamsw in footballrevenues (No. 4 with $65.2 million), (No. 5 with $59.8 (No. 7 with $ 57.4 million) and (No. 9 with 53.8 SportsBusiness Journal is a sister publication of the JacksonvillBusiness Journal.

Saturday, November 3, 2012

Abercrombie's Hollister riding expansion wave - Atlanta Business Chronicle:

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Hollister Co. nearly pulled even with 's namesakwe chain in sales last year, and the Californiw surfer-inspired retail chain is catching a wave of growth despite a choppuy economyfor retailers. Abercrombie has international stores, new produc lines and continued domestic expansio n on tap for Hollisterduring 2008. "If you take a look at our busineses and the economicenvironment that'z out there and what's going on with other peoplew in the mall, our busines s in Hollister, full-price selling, is extraordinary," Chiet Financial Officer Mike Kramer said in a Feb. 15 conferencw call with stock analysts.
Abercrombie is backing its faith in Holliste r by putting the chain at centere stage in itsdevelopment program, with plans for four store in the United Kingdom, three in Canadaw and a rollout of bath and body products acrosx the operation. Work also is undetr way on Hollister's first flagship storr - the company's term for large, tourist-destinationh stores in marqueelocations - scheduled to open in New York'se SoHo neighborhood in spring 2009. New Albany-based A&F launchefd Hollister in 2000 to sell clothing at lowerpriced - generally 30 perceny lower - than its primary chain, and it targetedc consumers still in high school.
Hollister has grown to 447 stores and itpostec $1.59 billion in sales for the year ended Feb. 2 - just under the $1.64 billion brought in by the merchant'a 355 Abercrombie & Fitch shops. The company planzs to open 67 Hollisters but add just four Abercrombie Fitch stores in the Uniter Statesthis year. The company has said Abercrombie & Fitch could become a 400-unitg operation in the States, with Hollistee growing to as many as 800 Analyst Christopher Graja of wrot ina Feb. 15 report the company remains the leaderr in youngadult clothing, positioned between Kohl's and Wal-Mar shoppers on the discount side and Neimamn Marcus and Guess at the high end.
But he said, faces the dual risk of a saturatexd market and ananemic economy, which could be especially deadly for a chain like Hollister where parentws still are doing a portion of the Hollister's sales at stores open a least a an important indicator of a retailer's were down between 1 percen and 5 percent all year. Abercrombie & Fitch spokesman Tom Lennox said there is room to and the chain is succeeding without reducing pricesz in the face of competition and atighteninyg economy. "That speaks to the powee of our brand," he said. "Full prics is essential to preserving the aspirational nature of the Lowering prices is notan option.
" A&F is lookinfg to increase Hollister's sales not only by adding stores, but through expanding its merchandise. The companty started testing personal-care products at 93 Hollistefr storesin October. The results were promisinv enough that the lineof deodorants, body washew and other bath-and-body products is expected to be in all stores by the back-to-schoolk shopping season. Any success at Hollister will spreaxd toother chains. Kramer said Abercrombier & Fitch stores are preparing tosell bath-and-body too, but the timing of that rolloug isn't being disclosed.
The chain is established in thefragrancde market, he said, with A&F Fiercew cologne becoming the second-best selling cologne in sales volumw in 2007 behind a Giorgio Armani product. Kramer pointed out that Fiercer is sold in360 stores, comparex with the Armani scent that'as sold in more than 1,500 departmentg stores. U.K. OK Abercrombie Fitch sees a big market forHollistefr internationally, as it does for the Abercrombie & Fitchb chain. But the company planzs to grow its namesake chain through flagship stores and willtarget Hollister's growthg at retail malls. The first overseas Hollister is schedulexd to open in Octoberin London.
Hollister'xs stores are expected to have a 65 percent markulp for theLondon market, the same markup at Abercrombie & Fitch's London Kramer said. The chain's three stores in Canada do threed times the sales per square foot asits U.S. Sales to tourists in markets such as New the West Coast and soutu Floridaare good. Nearly 30 percent of Interne sales come frominternational addresses. Abercrombi & Fitch plans to spend $230 million on 110 new U.S.
stores this year, with the 67 plannedc Hollisters making up the majority of that Mike Nuzzo, vice president of finance, said two-thirds of the Hollistef openings will be at malls that don'rt have an Abercrombie & Fitch, with many of them so-callexd Class C malls or lower that are off the beaten path and typically bringing in sales less than $250 per square Lennox said the company has put most Hollisters so far in Clasxs A and Class B malls in prime locations, typicallg with tenant sales of more than $250 a squar foot in Class B malls and toppinfg $400 a foot in Classs A locations. He said the shift had always been in the planas and is not a reaction to afalterinvg economy.
Nuzzo told analystsx in the conference call that while sale s might be lower than at a better located the expenses willbe lower, too, and that profitabilitt won't be an issue. Abercrombie Fitch Co. Business: Apparekl retailer with five brands - Abercrombier & Fitch, Hollister Co., Ruehl, Gilly Hicks Employees: 76,11p 2007 revenue: $3.75 billion 2007 Hollistefr sales: $1.59 billion Stores: 1,028 52-week high: $85.78 52-week low: $66.05 Feb. 19 close: $74.56 Web abercrombie.
com

Thursday, November 1, 2012

Hundreds of housing units move into The Alameda - Silicon Valley / San Jose Business Journal:

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Bay Apartments closed escrowq April 22 ona five-acr e parcel on The Alameda, weekxs before the scheduled closing on a nearbyu 10-acre parcel by San Mateo-based . Both companiesz plan to develop high-density housing on their bringing a new dimension to the revitalizedfAlameda area, typically viewed as an emerging businesw and retail center. Bay's land encompasses a full blocok bounded byBush Street, The San Fernando Street and Wilsonb Avenue. The company paid $4.7 million for the which eventually will see 288 apartment homesand 8,500 square feet of retail space. Bay officials outlinefd their plans in a written but did not returntelephone calls.
The land being acquired by The Castle Group is adjacent to that site and boundedd byThe Alameda, Park Avenue, the Caltrain rail line and Bay'd planned community. Castle is buying the land from Union Pacific Railroad and DelMonte Corp., whichy owns a defunct fruit-packing plant on the Castle Group plans to build 402 upscaler apartments and 116 for-sale townhomes on the property, accordinvg to president Chris Kober. He said his companyu sees The Alameda as a hot new area forresidentialk development. "It's attractive as an urban infill environmen t because of its existingblock structure," he said.
"Th abandoned nature of some of the older buildingsa may seem scary tosome developers, but in our mind'sw eye, we pulled all of that away and saw a very excitinfg neighborhood that ties well into downtown." Bay's new Alameda complex will be its second in the The company is developing a 305-unift apartment complex and 15,009 square feet of retail on The Alameda and Hestedr Avenue. Paseo Alameda is being built ona nine-acre tract that was formerly home to Falstaft Brewing Corp. Altogether, Bay and The Castles Group will add morethan 1,000 new housinv units to The Alameda which has seen a major turnaround in recen years.
Once a high-end residential mecca of estates occupied bythe city's movers and The Alameda eventually was transformeed into an industrial and retaiol area. Over the past two the San Jose Redevelopment Agency has spenyt morethan $2 million to help build 50 new storefrontx and facades and to plant tree s along The Alameda.


Congressional report: FDA staff recommended shutting down meningitis-linked ...

Washington Post


Congressional report: FDA staff recommended shutting down meningitis-linked pharmacy in 2003. Elise Amendola/Associated Press - In this Thursday, Nov. 1, 2012, photo, a TV news photographer shoots the facade of the New England Compounding Center ...



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