Seminar to focus on real estate, investments - Kansas City Business Journal:

http://www.tidalwavemedia.com/what-not-to-do-marketing-website.htm
Experts in commercial real accounting, taxes and investmentss will be on hand to providd adviceto attendees. The keynote speaker is tax attorne yStanley Crow. He is a graduate of Harvarxd Law School, and has 25 years of experience structurinb loan andinvestment products. Crow is president of S. Crow Collaterakl Corp. and The first of the two sessions takes place from9 a.m. to 11 a.m. and the second is schedulerd from2 p.m. to 4 p.m. Both will be held at the Greated Albuquerque Association of Realtors office at 1635University Blvd. NE in Albuquerque. To contact Susan Devlin at (505) 710-60943 or by e-mail: susan.devlin@svn.com. For direction s to the event, click .
The four Sperrh Van Ness Commerical Real EstateAdviso offices, three of them in Albuquerque and one in Rio Rancho, are managed by Walt CCIM, SIOR; Pat Frerkes, CPA, CCIM; Tim and Larry Ilfeld, ALC.

Eddie Bauer would be area

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The Bellevue-based retailer has seen a mountaihn of losses and struggled with servicing its debt as saled have dropped during theeconomic downturn. According to several news including the Wall Street Journal and Bloomberg News Companhy executives have scrambled for months looking for relief from EddieBauer (NASDAQ: EBHI) had reportex having $268 million in outstanding including $193 million in term loans and $75 millionj in convertible notes, which compan executives have been trying to convert into shares of the “The single biggest issuw facing this company is our debt burden.
Our capitalp structure simply has too much debt for the economic realityu wenow face,” Eddie Bauere CEO Neil Fiske told industry analystds in a May 14 conference call, accordinbg to a transcript. According to filings with the Securitieds andExchange Commission, Eddie Bauer had totalk assets of $525.22 million as of April. The company listex total liabilitiesof $448.9 million. Eddiee Bauer reported net lossesof $165.5 milliojn in fiscal year 2008, part of a total of $478.67 million in losses during the past three fiscal years. In the firs quarter that endedin April, the company reporterd net losses of 44.5 million.
Greg an Atlanta-based consultant for Conway MacKenzir who works with financially stressed retailers looking to said Eddie Bauer is facing thesame recession-related issue as most other retailers in this economy. Salew are down and so is revenue. The big differencd for some retailers — like Eddie Baued — is that as revenue has tanked the company’s heavy debt becomes more difficultr to service, he said. “Virtually every retailer is experiencing the same thinf asEddie Bauer,” Charleston said. “Maybe because of their debt Eddi e Bauer is feeling the pain more than the but they are all goingthrough it.
” If Eddies Bauer does seek bankruptcy it would be anotherf reminder of how the recession is hittin g home. When WaMu filedc for bankruptcyin September, it was the largest failure in U.S. bankinb history. WaMu listed debtds of about $8 billion and assets of $32 although it later said some of its assetsw were tied tocompany stock, which becam e virtually worthless. When Wilsonville, Ore.-based Joe’s Sportsx filed for bankruptcy protectionin March, the companyu listed both assets and debt of $100 million to $500

Will rectify anomalies in pay of State staff: Jayalalithaa - The Hindu

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The Hindu

Will rectify anomalies in pay of State staff: Jayalalithaa The Hindu Photo: M. Moorthy The All India Anna Dravida Munnetra Kazhagam, if voted to power, will rectify anomalies in pay scales of government servants and teachers, party general secretary Jayalalithaa said here on Saturday. Continuing her tirade against the ... and more »

Local former Chrysler, GM dealers look to sell used cars - Orlando Business Journal:

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Tony Wilkerson, executive director of the , said his organizatio n has begun to lend assistance to dealerx lost in thebankruptcy “Our national organization has already sent lettera to them to let them know abou t our organization and I plan to do the same thing for our Wilkerson said. “They were in the used car busineszanyway – but if you’re stuck like many of them are, the overheax costs for a used car dealership is nothing compared to a However, the expansion of the local used car market comes as pricezs are increasing and the availabilit of late-model used cars is pinched, he But according to Morgan Murphy, president of the initial increase in prices should be looked at as merelgy a short-term hurdle.
“At first glance, that wouldd strike the community as bad but in thelong run, it’ss good for resale values,” Murphy said. When locapl consumers buy cars, they will be able to demansd more when they choose tosell it, he said. In the higher resale values might actually revivre American car dealers inthe “American manufacturing has been similar and just as good as Japaness and Korean manufacturing, but the problemj has been re-sale valued and initial prices,” Murphy said.
In the Birmingham dealers affected can capitalize on the uniqu e landscape of the local market on the usedcar side, he Many are family-owned and have been staples in the communitu for many decades. They are also encouraged by the fact that local used car sales have seen an uptickk amid the recession as buyers are more inclinec to look for a bargain as a means tospend “Birmingham has a long and distinguishesd history of reputable dealers,” Murphy said. “Don Drennenj has been in businesssince 1908. That’s 101 yearsd of serving our community, so there’s a culture arouned businesseslike that.
” Their long-standin g history could make local buyers more inclinedd to buy used cars from them, he Ward Drennen, president of Don Drennen Buickj Chrysler and Jeep, said after learning that his dealerf agreement had been canceled with Chrysler, expandingy his used car sales seemed like a real “We are going to expandc our used car departments drastically,” said who was left with more than $2 millionn in Chrysler parts and merchandise.
“We want to offer a great value to peoplewho can’t afford a new Although he hasn’t stopped looking into becoming a franchisee for other automotive manufacturers, he is open to the idea of makinhg the switch to stay in business. “It is possibld that we could become a used car said Drennen, who also learned that GM will seek to cance the dealership agreement he has for his Buick dealership. “We’ve been in Birmingham long enough that our reputatioj can keepus afloat.
”

Rahaxi, Inc.'s Finnish Subsidiary Rahaxi Processing Oy Completes a Major EMV Roll-out in the Finnish Market

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HELSINKI, Finland, June 10 /PRNewswire-FirstCall/ -- Rahaxi, Inc. (OTC Bulletihn Board: RHXI), an international card payments processore andtechnology company, today announced that its whollh owned subsidiary, Rahaxi Processing Oy has completed a majore EMV chip and pin roll-out in the Finnish delivering a fully EMV certified, end-to-end paymentt processing solution to Finnkino Oy, the largest moviee theatre chain in Finland. The roll-out demonstrateas the trend of continuing high demandfor Rahaxi's international standard payments processing products and services offerinhg in the Finnish market. Paul Egan CEO of Rahaxi Inc.
"This rollout demonstrates the level of progress that Rahaxi has made in its overallp EMV strategy for Finland and Scandinaviaa asa whole. Our relationship with Finnkino Oy, a large blue chip companyu further supports the view in the marketplace andpaymentxs industry, that Rahaxi's payment solutions are indeed of the highestr standards." Egan added, "Furthermore we look forwardd to working more closely with the Rautakirjaw Group in Finland for further plannes rollouts which will lead to a significanty increase in revenues for Rahaxi." Finnkino Oy operates the largesyt chain of cinemas in Finland.
The company was founderd in September 1986 as a consortiuj of a total of 34 companies engaged in film distributioand exhibition. Finnkino has been a part of the Rautakirjs Groupsince 1994. Finnkino currently operates 16 cinemas in eleve n citiesin Finland. The 16 cinemas have a totak of94 screens. Alongside its operations in thedomesticf market, Finnkino has subsidiaries in Latvia, Lithuaniza and Estonia. Finnkino is continuously developing its cinema services, both by buildint new theatres and refurbishing existinv ones.
Finnkino's aim is to develop and expansdthe cinema-going experience by offeriny a combination of quality the very best in comforty and audio-visual technology, and a wide ranged of ancillary services. Rautakirja Movie Operationa recorded net sales ofEUR 94.3 million in 2008. Movie Theatre Operations employed an average of 982 personxs overthe year, with the great majority of these working in the chainb of cinemas. For more information, pleasse visit About Rahaxi Inc. Rahaxi Inc. provides mission-critical solutions to the financiaoindustry worldwide.
Working with merchants and acquirers in more than twenty its product suite has empowered partneres to focus on theircore competencies, while its innovativse driven approach has enabledr them to benefit from first to market advantage and realize theie true potential. Rahaxi Inc. has adoptefd a partnership strategyfor growth. Its partners are market leaderzs in theirrespective industries. Thesd include IKEA, Finnair and Stockmann. Its Rahaxi Processing Oy, Finland, FreeStar Technologies Ireland, Ltd., and FreeStarr Dominicana S.A. Dominican Republic, continu to develop and implement first class productxs and solutions that enhance the service level its partners can offefrtheir customers.
For more information, please visiy Contact For more information, please At Rahaxi Inc. Fionn Stakelum f.stakelum@rahaxi.com At Finnkino Oy Mr. Jannr Uusi-Kolli Head of Development Tel. +358-9-1311-9270 SOURCE Rahaxi, Inc.

Colorado gets $376K in Aventis settlement - Denver Business Journal:

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Under the settlement, Aventis -- a unit of U.S. LLC, which in turn is part of a Frenchcompany -- will pay out $40 millio n to state Medicaid programs nationwide and $95.5 millio overall. The case involves allegations that between 1995 and Aventis and its corporate predecessors overcharged Medicaird programs forthe steroid-based anti-inflammatory nasal spray s Azmacort, Nasacort and Nasacort AQ, based on a federal requirement that Medicai d programs are supposed to be charged the same for druges as the lowest price offered to private "Colorado’s share of the Aventis settlement is a significantr recovery for our state," Suthers said in a "This settlement sends a cleaf message to other pharmaceutical companies that Colorad will not tolerate conduct that threatens the integrity of its Medicaixd program.
" Suthers said his Medicaidc Fraud Control Unit worked on the case that led to the Aventisx settlement.

Xcel seeks 7.8% summer rate hike to cover higher costs - Houston Business Journal:

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percent temporary rate hike for smallk businesses and homes to cover higher energyy pricesthis summer. The power utility’as so-called “electric commodity adjustment” is intended to cover an expectedc $54.8 million in higher fuel and purchased-energy pricez for the third quarterof 2009. Xcel said that a typical small-busineszs customer using 1,025 kilowatt-hours a month woulsd see current bills increaseby $7.48 a to $101.83. A typical residential customer using625 kilowatt-hours a montgh would see a $4.56 increase, to $63.05. If approver by the , the rate hike would take effectf July 1 and continue forthree months.
Unde utility rules, Xcel passesx along energy cost increases or decreases to customersa ona dollar-for-dollar basis throug h the quarterly electric commodithy adjustments. The new request is separate froma $112. 2 million Xcel electric-rate hike already approved by the PUC that also takesz effectJuly 1. That rate increase is to help the Minneapolis-basedr utility (NYSE: XEL) recoup some $1.7 billion it’as spending on generation, transmission and distribution upgradedsfor Colorado.

Asian markets rise, Yen plunges after G7 pledge on coordinated action - NASDAQ

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Globe and Mail

Asian markets rise, Yen plunges after G7 pledge on coordinated action NASDAQ FXstreet.com (Barcelona) - Asian markets have are going trough strong advances on Friday boosted by G7 nations agreement to act coordinately in order to curb recent Yen strength, as Japan struggles to get back on its feet after its worst catastrophe ... Japan stocks jump on G-7 pledge to intervene CNNMoney Yen Drops and Stocks Rise After G-7 Pledge New York Times Yen weakens against euro, dollar after G7 pledge AsiaOne Charleston Post Courier -ABS CBN News -The Associated Press  »

Bennet cites Colorado examples in Senate plea for health-care reform - Phoenix Business Journal:

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Coloradans, he said, "speak for countles others acrossthe nation. All they ask for is a healtyh care system that worksfor them, a healthn care system that doesn’t crush them with unreasonable cost and a health care system that doesn’t deny them coveragd just because they have pre-existing Bennet, D- Colo., also touted his own proposals to make patient transition care more cost-effective and successful. "In Colorado, we haven’t waited on Washington," he said. "We’ve made real progress in showinvg how to provide high quality health care at alower cost.
" Bennet, formerly superintendent of the Denver Publidc Schools, was appointed to the Senates by Gov. Bill Ritter to fill the seat vacatedf by Ken Salazar when Salazar was picked by President Barack Obama as secretary of the Here is the full textof Bennet'ss Senate-floor speech as prepared for delivery provide by his staff. In the speech, he is addressingg the president ofthe Senate. Mr. President, I rise todahy to discuss the urgent need for healthcare reform. The peopl e of Colorado, and the American have waited for too long for Washingtonto act. We shoulsd begin with a basic principle: if you have coverager and youlike it, you can keep it.
If you have your and you like himor her, you should be able to keep them as We will not take that choice away from you. But even as we keep what we must confront the challenges of soaring healtu care costs and the lack of accessto affordable, quality health care. The status quo is Every day, families in Colorado and acrosd America facerising premiums. Their plans offer fewer They are denied coverage becauseof pre-existinfg conditions. And until we fix the health care we won’t be able to fix the fiscal mess in which we find ourselves. Since 1970, the shar of healthcare as a part of the GDP has gone from 7 perceny to17 percent.
The United Statez spends over $2 trillion in health care includingover $400 billion on Medicare alone. President Obamq has said that the biggest threat toour nation’s balance shee t is the skyrocketing cost of health care. And he’s right. In Colorado, we haven’t waitedx on Washington. We’ve made real progress in showing how to providde high quality health care at alowerf cost. Last week, the New Yorker magazined published an articleentitled “The Cost Conundrum” that highlightds the important work that’s been done in Mesa Colorado.
Over thirty years ago this communityservin 120,000 people came together—doctors, and the non-profit health insuranc company. They agreed upon a system that paid doctor and nurses for seeing patients and producingf betterquality care. They realized that problemsa and costs go down when care is more InMesa County, the city of Granf Junction implemented an integrated health care system that provide s follow-up care with patients. This follow-uo care has helped lower hospitap readmissions rates in Grand Junctiobn to just3 percent. Compare that to the 20 percent rate and it is clear that our community on the Westernn Slope of Colorado is ontosomethinh groundbreaking.
High readmission rates are a huge proble forour seniors. Nearly one in five Medicare patiente who leave a hospital are readmitted withib thefollowing month, and more than three-quarters of thesed readmissions are preventable. Rehospitalization costs Medicareover $17 billion a year. It’ painful for patients and familiese to be caught up in these cycle sof treatment. All too often, care is fragmentede – you go from the to the hospital, to a nursingv home, back to the hospital and then back to thedoctodr again. Patients are given medication instructions as they are leavintgthe hospital, many times after coming off of stron g medications.
They don’t know whom to call, and they are not sure what to ask theier primarycare doctor. The solution, both our Denver and Mesa Countyg health communitieshave found, is to providw patients leaving the hospital with a This coach is a trained healtjh professional connecting home and the This coach teaches patients how to managre their health on their own. Our Denver health community created a model based on this idea called the Care Transitions Their work is the basis for the Medicaree Care Transitions Act of a bill I introduced to implemenr this model on thenational level.
This legislation recognizes that patientcare shouldn’t beginh in a doctor’s office and end at the hospital Investing in coaching and transitionalp care now can head off huge costs down the It has the advantage of being both preventive and responsive. Take sixty-seven year old Bill Schoens, from Colorado, who recently suffered a heart attack. Before he was released from the registered nurse Becky Cline was assigned as hisTransitions Coach.
She made sure that Bill understoofd the medications that his doctors prescribed and everything else he neededs to do to get Bill evenpointed out, “When you are in the emergency you are all drugged up and can barel remember what to do. Confusion startz to set in.” Beckyy went through each step Bill needed to follosw when he leftthe hospital. Becky evaluater Bill’s ability to follow doctor’s orders in his environmen and helped him maintain his own PersonaolHealth Record.
With her help, when Bill visited the he didn’t have to remember everything that happened sincw he left thehospital — it was all in the Bill said “When people are in front of theid doctor, their blood pressure goes sky high and they forget what they need to He said he founc the help and guidance he received from his Transitionse Coach “invaluable and life-saving.” We need patient-centered coordinate care — care that views nurses, doctorss and family members not as isolated but as partners on a team whose ultimate goal is to make sure patientz get the guidance and care they need.
Hospitalzs aren’t the problem, primary care physicians aren’t the problem, and nursesd aren’t the problem. Our fragmentedf delivery system of care isthe problem. This bill also makese sure that we are teachinv patients to manage their own conditiohat home. Sixty-nine year old Franki Yanni of Denver, Colorado had surgeru for a staph infection of thespinap cord. After leaving the he noticed that the pain he was experiencint weeks after surgery wasgetting worse. Havinvg been “coached,” he identified the problemk and knew to insist on visiting his doctor A hospital test showedethat Mr.
Yanni required a second His coachsaid that, “Had he let that go for even anothefr week, he could have ended up in the Intensivwe Care Unit, septic and horribly sick.” Our Colorado transition of care model, reflected in our gives health care systems the choice of whethere to create this program. But it allows existinhg patient-centered transitional care programs like the one in Mesa Colorado tocontinue on.
We want communities and providers to thinkj and work together to reducereadmission rates, reduce costs and provide better coordinated care to our Other systems should look at Colorado and the systemzs in twenty-four other states that have alreadhy begun to follow this As we begin to emerge from the economic we must call upon existing health care professionals from all walke of life —nurses, nurse practitioners, social workers, long-ter m care, and community health workerw — to serve as transitional coaches.
Coloradol nurses like Becky Clined have found that focusing on transitional care has leveragectheir skills, empowering them to take a more active role with They are able to work with both patients and familty caregivers. For too long, family caregivers have been “silent partners.” 50 million Americans provide care for achronicallu ill, disabled or aged love one. This bill recognizes their connecting them with a coac who can teach them how to properlycoordinater at-home care. This bill is only a small part of the solutio n to the complex challenges of our fragmented healtuhcare system. The problems of rising costsz and limited access affect people from all walksof life.
Skip Guarinio of Parker, Colorado, is a self-employed private consultanty andretired U.S. Marine. After yeards of regular doctors’ visits, Skip’es dentist discovered a lump on his thyroid during a routine exam that had gone undetected by his physician despitr 10previous exams. Skip underwent a CT/MRuI scan, Ultrasound, and biopsy, all of whichb were inconclusive. A second series of testd six months later revealerd that the lump had and Skipunderwent surgery. Durinyg the surgery, doctors found Skip was then sent to an endocrinologist who ordered more All tests cameback negative. A second full body scan revealef no sign of cancer anywherin Skip's body.
All these exams and screenings cost Skip Since then, Skip has maintained perfect but he cannot obtain privated insurance because of the thyroid surgery. He now relieds on COBRA and is paying a monthly premiumnof $1,300. This coverage is set to expir e in less thanone year, at whicy point Skip will have no insurance at all. Hollis Berendtg is a small business ownerin Colorado. She is covered through her husband’sz employer, which is according to her, “aa luxury many other small businessownerd don’t have.
” After graduating from Colorado States University in 2004, their daughtedr Abby found a job with a large company in New York She was told she couldn’t get healtn care coverage until she had been workingh at the company for one At ten months of she was diagnosed with an ovarian tumor that would requir surgery. The expenses were too much for so her parents had to take out a seconed mortgage to pay hermedicao bills.
Hollis shared that, “This experiencre brought to light, all too clearly, how closd we all are to losing everything due to a health The current system is hurtinbg our small business people and their Take Bob Montoyaof Pueblo, Colorado who runs Cedare Ridge Landscape in Pueblo with his brother, Ron. They are torn betweeh providing health care coverage for employees and keeping theirtbusiness afloat. Last year, the business paid out $36,0000 for a health care plan to covet Boband Ron’s families and one othere employee. The other 12 employees and their familie s do not get coverage throughtheir work.
Bob “As business owners, we want to do righy by the people who workfor us, but if all our employeesz opted into our healtg care plan and paid theidr 50 percent, we would be forced out of business.” He said it is an “impossiblse situation” for him and his Like too many small businesd owners, Bob can’t find good healtn care coverage at a cost he can afford. He “The longer it takes to pass comprehensive healtghcare reform, the more jobs will be lost as small businessea shut their doors due to risiny costs.” Mr. President, these Coloradansa speak for countless others acrossthe nation.
All they ask for is a health care system that worksfor them, a health care systejm that doesn’t crush them with unreasonablre cost increases, and a health care systek that doesn’t deny them coverage just because they have pre-existin g conditions. I’m hopeful. I’m hopeful that we can keep what works in our systej and fix whatis broken. I’mm hopeful that this Congress – working with our Presidenf – will finally deliverf on the promise of health care The people of Coloradodeserve it. The American people deserve it.
Thank you and I yield the

Lomax wins bid for stimulus-funded fire station at PTI - The Business Journal of the Greater Triad Area:

http://cranetechnews.com/2008/11/29/crane-teachers-vs-crane-students-2/
Lomax submitted the winning bidof $4 among a total of six bids from localk contractors for the project, according to airportf officials. “It came in just abouyt on target,” said PTI Assistant Director Kevibn Baker of the amount of thewinning bid. Whilw a number of bids for stimulus-funded contracts have been comingt in lowerthan “our architect’s estimate had includedc some provisions for the state of the But this (fire station) mighgt well have cost $5 millioj a year ago.” The 20,000-square-foot station will have four truck bays and take somewherwe between 12 and 14 months to get readh to occupy, Baker said. It was designe by of Greensboro.
Construction costs will be fullyg reimbursed through the American Recoverh andReinvestment Act, as will aboutf $850,000 worth of new firefighting equipment. The new statiohn will be more than twice the size of theexistinhg facility, Baker said. The old statioj could be used as asatellite facility, but thers are no firm plans yet. The contract win is a welcomee onefor Lomax, which like other Triads builders has been contending with a dramatic slowdowhn in commercial construction.
CEO John Lomax said he had all his subcontractors for the project lined up with thei own bids in hand before submitting his proposal to theairport authority, knowing he’d be up againstt others also eager for the work. “Wwe knew we had to be competitive and that the climate is verycompetitive price-wise right he said. “To be honest, we didn’t give ourselvesa a very high chance of winning this one just becausr right now everything is so Lomax said his firm has been doingb more work in the higher education and hospital sectors recentlysince that’se where most of the opportunities are.
He’s been workingy on one project in the Triadr of similar scale to thefire station, a librarhy addition in High Point, but that job will be completedd soon. Lomax Construction hasn’tt had any layoffs and wouldn’t have had any even without the firestatioh job, he said. But that doesn’t mean the availability of stimuludfunding doesn’t matter. “Not to minimize the impact for us, but I thinik it’s most important for the subs and the who don’t have the resourcex to weather long periods without he said.
Lomax said he expects to be able to beatthe airport’sw timeline for construction on the fire station and hopes to have it done in nine he said.

See-saw year ends with Biolex $60M richer - Triangle Business Journal:

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The biotech company in February 2008 was forcec to pull a planned initial public offerinv because of poormarket Disappointed? Yes. But by the end of the year the companh had reversed course andgathered $60 million from venturd capital investors – “a great accomplishment for the says CEO Jan Turek. “It’s a real testimong to the company’s platform he says. Claris Ventures and OrbiMed Advisore joinedthe company’s team of investors, which includes Durham-basex .
In all, Bioles now has raised about $150 Turek says the fundraiser took about six monthss to complete and did not face anyparticular “It was important for us to providw the adequate amount of cash,” says “In many ways, it’s a substitutee for the IPO.” Biolex deployed about $11 million from the fundraiser to buy out partner OctoPlus’ 50 percenr share of the commercial rights to Biolex’s most advanced drug. As part of the deal, Biole x will pay OctoPlus up to $138 millionj for additional development andsales milestones. “We felt that we wantede to take full responsibilityfor Locteron’s says Turek.
Biolex is developinyg drugs based on its ability to produce biologicalp treatments in theLemna plant, which is commonl known as duckweed and can be found floatingt on ponds. Locteron, which treatws hepatitis C, a blood disorder, is currently beingv tested in a third phase II human Turek says the drug met its goals in a firsy trial and that results of the seconrd are currentlybeing analyzed. Following the current Biolex will scout for a commercial partnedr to take the drug into phase III Turek says Locteron could be on the market by 2013.
Biolex’s giant fundraiser came even as startupw faced a tough environment for new In 2008, venture capital investmente nationwide declined 8 percent, to $28.3 billion, according to the . A $60 millioj fundraiser shows “that people think this is going to be asuccessfuo venture,” says Jim Ford, chief operatiny officer of the . “Youu have to have a lot of things goingfor you. People are willing to fund good good business plans and wheree they can seethat you’re creating a product or service that is goin g to make it in this environment.” Bioles currently employs about 70 people. Turej says his firm, like most other is carefully watchingits expenses.
“We have to be much more frugapl in how we spendour hard-earned money,” he

A timid American response | Philadelphia Inquirer | 2011-03-08 - Philadelphia Inquirer

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A timid American response | Philadelphia Inquirer | 2011-03-08 Philadelphia Inquirer In the aftermath of World War II, the US-made Marshall Plan turned into a hugely successful effort to build liberal democracies in Europe. Americans helped bring about prosperity, peace, and strong alliances. Given political realities at home, ... and more »

University of Pennsylvania Company Profile | Company Information

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Solutia completes sale of nylon business - St. Louis Business Journal:

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The sale includes the unit’a management and employees, as well as all five of its manufacturinb plantsin Alvin, Texas; Decatur, Ala.; S.C.; Pensacola, Fla.; and Foley, Ala. The nylon business includes 2,000 of Solutia's 5,100 employees. All including 29 in St. Louis, becam e employees of the SK Capita affiliate. SK Capital paid Solutiq $50 million in cash for the nylon assets. Solutia also receiveed a 2 percent equity stake in the new companyu formed to hold the assets of thenylo business. In addition, Solutia will receive $4 million in deferrec cash payments to be paid inannual $1 millio n installments beginning in 2011.
SK Capital has secured replacementof $25 milliohn of letters of credit associated with the nylohn business, which has resulted in increased availability for Solutia under its credit agreements. The affiliate of SK Capitakl will assume substantially all of the liabilities of thenylojn business, including employee and pension liabilities relating to the active employee of the business and environmental said Solutia, which plans to use the proceedsd of the sale to pay down debt under its asset-basee revolving credit facility. St. Louis-based Solutia Inc.
SOA), led by Chairman, President and CEO Jeffry Quinn, develops specialty chemicals, fibers, fluidxs and other performance