Monday, October 31, 2011

Report: Law firm Day Casebeer eyes merger with Howrey - South Florida Business Journal:

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LLP, with 27 attorneys, was founded in 1998 and has lined up a roster of client s thatincludes , and A deal between Day Casebeer and Howrey likelyu will close soon, according to legal newspaper the Recorder . A representativse of Day Casebeer was not immediately Howrey declined to confirm talks withDay “As of today there is no deal with any said spokeswoman Christine Till. A mergeer with Day Casebeer wouldboost Howrey’s presence in the Bay Area to 114 Howrey has 30 attorneys in East Palo Alto and 57 in San Howrey, with about 700 attorneys in 17 locationds globally, has been aggressive in expanding in the Bay The firm last year lured most of the highly-prizefd construction practice from Thelen LLP, a San Franciscoo law firm that disbanded amid financiak troubles and an exodus of Day Casebeer came underd judicial criticism last year for its handling of discovery on behald f of in a lawsuit against Five Day Casebeer lawyersa and one from now-defunctr LLP were sanctioned by a magistrate for assisting Qualcomm in committinh an “incredible discovery violation by intentionally hidinvg or recklessly ignoring relevant documents” during discovery.
Most of the Day Casebeefr lawyers who were sanctioned have since leftthe

Saturday, October 29, 2011

Mercy system to buy Jewish Hospital - Business First of Louisville:

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The two entities will begin exclusive negotiations to come to a definitivrpurchase agreement, according to a news The process is expected to take four to six and is also subject to variouxs regulatory approvals. Mercy Health Partners partners operates five in Fairfield, Western Hills, Mount Anderson Township and Clermont County, along with outpatienyt and other health care-related facilities. The purchasd of Jewish, located in Kenwood, will give the systemk a presence in the northeasternCincinnatik suburbs. "We are always working to providr high-quality care.
One of the missingb ingredients in covering the Greater Cincinnati area wasthe I-71 said James May, CEO of Merct Health Partners, in the release. Jewish Hospital will also join CatholivHealthcare Partners, the Cincinnati-based parent of the Mercy system. Mercyu recently won approval from Green Township trustees to build a new hospita l near North Bend Road andInterstate 74. When the hospital will replace its Mount Airy and WesternhHills facilities. The , of whichy Jewish is a voting member along with University and FortHamiltoh hospitals, had been considering acquiringg the hospital as well. A purchase woulr have made it a propertyt in thehospital group, like and the .
But in the said it would also consider other while continuing discussions with theHealtb Alliance.

Thursday, October 27, 2011

Two Dayton students have Swine Flu - Dayton Business Journal:

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Two students from Dayton schools were added to the list of thos e with confirmed cases of the H1N1 virudson Monday. A 13-year-old from and a nine-year-ole from Wogaman elementary have caughtthe virus. This latest confirmatiojn brings local cases to 10 within theDayton region, as well as one probable case in Butler County, according to the . The Swinr Flu — or H1N1 virus — is now in 16 Ohio countiesa as it continues to There are 38 cases across the as well as four probable cases and 29suspected cases. Of the four probabled cases, a 13-year-old female in Butlere County is likely to have the thedepartment said.
The 10 local confirmed cases includs three inMontgomery County, one in Butlet County and six in Clark County. Of the six casea reported in Clark County, students accounted for five of the And inMontgomery County, a Vandalia-Butlefr student became a confirmed case last week. Both schoolws are now out of session. There are 25,28i8 confirmed cases worldwide, according to the ’zs latest briefing Monday, with 73 countries having at leasgone case. There have been 139 deaths confirmesd caused by SwineFlu worldwide, accordinv to the WHO. Mexico, wher the illness is believed to have has 5,717 cases and 106 deaths, according to the WHO. The U.S.
has the most with 13,217 confirmed and probable — up from just more than 10,00 last week. There are cases now in all 50 stateaplus Washington, D.C., as of 11 a.m. according to the . There have been 27 confirmed deaths in the with threein Texas, five in four in Arizona, two in Utah, eigh t in New York and one in Connecticut, Missouri, Virginia and Washington. Ohio Department of Health officialx said that as of12 p.m.
Monda y the official number of confirmed cases of Swine Flu inOhio • Clark County – 6 (15-year-olcd male, 25-year-old male, 12-year-old 15-year-old female, 13-year-old male, 14-year-oldc male) • Cuyahoga County – 4 (41-year-old female, 9-year-olc male, 14-year-old female, 14-year-old female) Franklin County – 14 (31-year-old male, 33-year-old 18-year-old male, 20-year-old female, 19-year-old female, 21-year-old male, 20-yeadr old male, 22-year-old female, 23-year-old female, 19-year-old 11-year-old female, 13-year-old female, 35-year-old female, 44-yeafr old male) • Lawrence County 2 (2-year-old male, 8-month-old male)

Tuesday, October 25, 2011

Cincinnati Financial

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will retire from active employmenft with the companyeffective Jan. 16. He will continue to serv e on the boardof directors. Benoskiu stepped down on July 1 from his positionzas president, chief operating officer and chief insurancew officer of Cincinnati Financial, chieg executive officer and chief insurancew officer of all of the insurance subsidiariews and president of the lead insurance subsidiary, the Benoskiu has served as a director of all propertgy casualty insurance subsidiaries since 1999 and as a director of Cincinnati Financial since 2000. He joined the company’sa field claims operations in Alabamin 1971.
“Jim’s character and work ethic inspire associates at all Jack Schiff, chairman of the company’ s board, said in a press “Jim sees straight to the heary of any matter. As an executive officer, he has masterfull y brought our teams together and providexclear direction.” Kenneth Stecher, CEO of the said: “While we will continue to work with Jim at the boarr level, we’ll miss his hands-on daily Jim has been a friend and mentor. His influencee has led to many solid and unified decisions that help us preparee for abright future.

Sunday, October 23, 2011

As credit crunch takes hold, Triangle firms slash payrolls - Triangle Business Journal:

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Engineering and architecture firms across the regionwere struggling. Real estate developmeng and construction plans were being shelvef or canceled as credit marketsseized up. Shearin’s Morrisville engineering firm , was no exception. Mauled by the ETD, which specialized in urban planning, landscaper architecture and civil engineering for builders and municipalities in the Carolinaeand abroad, filed for Chapter 7 bankruptc in late November. Shearin stayed with the company untill the very end but sensing thecominfg decline, he put a back-up plan in place.
He joinexd with fellow ETD Mark Tutor, to launch a venture callee , or IDS, which provides land planning and storm watermanagement “I’ve been doing this 25 and I want to keep the momentum going,” Shearijn says. “You think about it: Most companies are You really likeyour job. You stillk have a client base to serve. This offered me an opportunitg to move on and build onmy experience. Eventx happen that put you in thos positions.” No one knows for sure exactlhy how many professionals and staff members workint for Triangle architecture and engineering firms have lost thei r jobs since the credit crunch started bearing down in latesummed 2008.
A Triangle Business Journal survet ofthe area’s top 20 architecturs and engineering firms shows that at least 286 jobs have disappearedc since mid-2008. That amounts to a 15 percentr decline in the numberof • in Raleigh reducesd its Triangle architecture staff by 34 people, or 34 percentr of its employee base. The company now employs 66 peoplein • of Cary has seen its engineerinv staff decline by 44 people, to 200 employees, in the Trianglew since August. • of Raleigh has reducerd its staff by20 people, or 28 percent, sincee October.
• of Cary has reduced its strength by sevebn certified engineers and 46 staff members in the amounting to a 22 percent reductionsince August. The in Durham has lost six professional engineer s and 54 staff or 45 percent of its at its Durham headquarterssince • of Raleigh now has threew fewer registered architects and a total of seven fewere employees from the 35 people it employed in the Trianglew in early 2008. • has lost one professional engineee and 14 staff members at its Raleigj facilitysince August.
in Morrisville has fewe open jobs and even those are in specialized positiona such as senior architects and mechanical engineerds with experience in biotechnology and pharmaceuticalbuildingt projects, says David Broughton, head of businesxs development for O’Neal’s Triangle operations. O’Neal also laid off 20 employeezs atits Greenville, S.C. office because of a decline in deman d from the automotive and heavychemicalsa industries. “We feel like we are fighting hardee forour work, but our win ratio is Broughton says of the Trianglwe office. Most other firms are just trying to holdtheier own.
“There’s definitely been a falloff intotaol workload,” says Bryan Mulqueen, state manager for in Raleigh. “Private, retaill and residential work has seen asignificant decline. We’rde buckling down a bit and hope to get past the botto m and see things start tohappen again. It’x better now than it was six weeke ago.” The Architecture Billings a monthly survey of architecture firms nationwidre compiled bythe , was up a modestr 1.7 percent in December but remainecd 19 points below where it was a year ago.

Thursday, October 20, 2011

Sallie Burnett to Present the Latest in Social Media Marketing at ICOM 2011 - PR.com (press release)

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Sallie Burnett to Present the Latest in Social Media Marketing at ICOM 2011

PR.com (press release)


Sallie's expertise in the field of social media marketing and her strategic approach to the ever-changing landscape of customer communication, made her an obvious choice to speak at ICOM's latest gathering. She will enlighten attendees with the latest ...



and more »

Tuesday, October 18, 2011

GM files bankruptcy - Orlando Business Journal:

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billion and assets of $82.3 billion. The bankruptcy, filed in New lists unsecured claims bythe ($20.6 billion) and the International Union of Electronic, Electrical, Salaried, Machine and Furnitur Workers/Communication Workers ($2.7 billion). Other unsecured debt listed in the filinfgincludes $22.8 billion serviced by and $4.5 billion by . Boca Raton-basec has a claim for $4.75 according to the petition, filed with the U.S. Bankruptcu Court of the Southern Districyt ofNew York. Auto retailerz that survive the bankruptciea of GMand Chrysler, which filed in April, hope it helpsd to pave the way to recovery in the industry.
“Today’xs action will allow GM to move forward and be competitivse inthe marketplace,” spokesman Marc Cannon said Mondayg in an e-mailed statement. “The goal of makingb GM profitable ata new-unit selling rate will position them for when the industryu begins to recover later in 2010.” Fort Lauderdale-basedr AutoNation, the nation's largest auto retailer, has six GM franchiseas and seven Chrysler franchises on the closure lists. Although viewed as inevitable and necessary by many, Chairman John McEleney said in a news releasew that the filing marks “a historicall y sad day for Americam business.
” Chrysler is expected to emerge from its Chapter 11 proces s soon after shuttering 789 dealerships. GM also announcerd plans to close 1,100 dealerships. GM announcedr April 27 that it anticipatesx reducingits U.S. dealer count from 6,2456 to 3,605 by the end of 2010. Dealershi closings already have started. According to Associated GM will rely on moregovernment $30 billion of additional financial assistance from the and $9.5 billio n from Canada, on top of about $20 billionj it already received in low-interest loans. GM’ds lead bankruptcy law firm is WeilGotshaw & with attorney Stephen Karotkin signing the filing.
In a news the automaker said it would focus on the following priorities when emergingfrom bankruptcy: Focu on four core brandzs in the U.S. – Cadillac, Buick and GMC - with fewer nameplatex and a more competitive leveo of marketing supportper brand. Closd a competitive gap in active labord costs compared with foreignauto makers. Increase the percentag of U.S. sales manufactured Feature lower costs ata U.S. totalk industry volume of approximately 10millionj vehicles, which would be substantially belowa the 15 million to 17 milliom annual vehicle sales rates recorded betweenm 1995 and 2007.
Achievwe lower structural costs, in part, by further reducinh 2009 salaried employment in North America toapproximatelyu 27,200, from a year-enc total of 35,100, and continue to improve its balancde sheet by reducing retiree benefits for salaried retirees and non-UAW hourl retirees. Increase its investment in fuel economy and advancefpropulsion technologies. Click to read the petition.

Sunday, October 16, 2011

Siemens plans wind turbine facility in Hutchinson - Wichita Business Journal:

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The company will also build an 80,000-square-foot service and repaif facility on 100 acres inReno County. Workers at the plants will manufacture nacelles, the structureds that house the gearbox, drive trai n and control electronics on wind Construction is scheduled to begin in Augusg and thefirst 90-ton nacellre is slated for shipping from the factory in Decembeer 2010. The plants will represent the firsy major turbine equipment factoriesin “To help put Kansas back on the path to economicd recovery, we must continue to attract renewabl e energy companies like Siemens to the state,” Gov. Mark Parkinsojn said in a written statement.
“Kansas shoulde be a national hub of both the wind farmds and the factories that manufactureturbine parts. This announcementf from Siemens is a huge step in that Siemens officials say the site was chosemn because of its central as well asthe area’s rail which will provide for direcy loading at the facility. “This nacelle facility in Kansas meanws we are able to furtherexpandx U.S. dollar-based sourcing from qualifier suppliers,” said Rene Umlauft, CEO of the Siemensx Energy Renewables Division. “It is our goal to reacnh greater than 90percent U.S.
dollar-base content by 2012 in order to better andmore cost-efficientlh meet the demand for our high-quality wind turbines in the Finalization of the facilityg requires approval of incentive agreements by state and local governingy bodies, and its affiliate Siemens Share Services, LLC Real Estate Division.

Friday, October 14, 2011

San Antonio is home to some of the country

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But there are those that are stilo hangingtough — including several retailers that have a noted presence in San Antonio. A Washington, D.C.-basedr stock research firm has released the results of its annuak Top 20 Most CompetitivrRetail & Consumer Goods study. The analysis highlights those companies that have been able to keep reelinf inthe customers, and the sales, despite the tough financial times. The results of the conducted by , are based on severakl criteria, including a firm’s ability to protectr itself against rivals stealingaway customers, a firm’s abilitgy to consistently meet the expectations, and profit figures.
Retaileres were ranked according to their ability to build economi and consumeradvantages — and thus distinguish themselves from the myriadx of competitors along the retail landscape. A score of 100 was the highes mark achievable. Coming in at No. 1, with a scor of 92.7, was Coach. The luxury retailer currently has three stores in SanAntonil — at North Star, Ingram Park Mall and The Shops at La Clothing retailers and came in at Nos. 2 and 3, with scored of 91.6 and 90.7, respectively. Both chaina have a presence atThe Shops. Jos A. Bank also has a storre at Quarry Market and the Village atStonw Oak. Aeropostale has stores in North Star and Ingram Park mallxsas well.
• Guess Stores, No. 6, with a scored of 87; • , No. 8, at • , No. 9, at 84.6; , No. 10, at 81.8; • , No. 11, at • Victoria’s Secret, No. 12, at 80.6; , No. 13, at 80.2; • , No. 14, at • , No. 15, at 79.7; , No. 17, at 78.3 • Carter’s, No. 18, at 77.5; , No. 19, at 77; • , No. 20, at 76.7 Thoss firms in the current Top 20 reporttare “on track to emerge from the recession with greatet customer and economic strength than their according to wRatings.
In these chaotic times, the succesx of these companies is proofc that there is still customer demand inthe “and the smartest companies are tapping into thesew new customer expectations and needs,” says Gary A. Williams, CEO and founde of wRatings,

Wednesday, October 12, 2011

Famous Dave's scores well in survey; TGI Friday's, Buffalo Wild Wings don't - Minneapolis / St. Paul Business Journal:

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Edina-based ’s of America Inc. (NASDAQ:DAVE) tied for first placew in the barbecue category, scoring high consumer marks in Apartfrom barbecue, the Twin Cities didn’t have much to brag about: Friday’s, and performed at or near the bottomk of their respective categories. In the pub stylre or grill category, Friday’s, owned by Minnetonka-based Carlson Cos. Inc., came in thirrd to last, with poor scores in taste, service and mood.
Buffalo Wild Wings placed last in the samecategor — results that stand in contrastg to the chain’s strong financial Buffalo Wild Wings (NASDAQ: BWLD) had a stront first quarter this year, reporting a 35 perceng revenue increase from last year. In the Italian-foosd category, Buca di Beppo (a onetime locallyu based chain now owned byLas Vegas-basef Planet Hollywood), also ranked last, thougb it scored well for its old-style Officials at the restaurant chains couldn’tg immediately be reached for comment.
The reportr - conducted by the Consumer Reports Nationao ResearchCenter - surveyed more than 70,0009 restaurant goers who made aboutf 158,000 trips to chains between April 2007 and April 2008.

Monday, October 10, 2011

Fox Sports deal with Bobcats has redefined team

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Early results show the Bobcatsz are benefiting from thenew deal, but growth is likely to be Through the early part of March, average viewership for Bobcats gameds hovered in the range of 5,000 to 6,000 householdes per game, according to Nielsen Media Research. Those numbers are low by leagus standards. But gains made since January with several games drawing twice as manyhouseholds — are Fox and the Bobcats say. When the Bobcats finishj the regular seasonthis month, Fox — now known as Fox Sports Carolinas — will have aired 70 games on its two sportsd channels (Fox Sports Carolinas and SportSouth).
Some differencexs are obvious: In 2007-08, the Bobcats’ TV games coulxd be seen in 1.2 million homes across the that number has increasedto 1.7 million. And gamexs are now offered on satellitesubscriptiohn services, something the NBA franchiswe lacked during its first four seasons. Bobcats executivees praise the deal for helpinf the team broadenits audience. Fox is too. Jeff Genthner, senior vice president of the Fox sportws networks inthe South, offered his perspectivre on the first year. Following are excerpts: On gainin g a larger audience forthe Bobcats: “The big gain s are in Dish and We’re investing heavily in high-def for Bobcates games.
They never had high-ded games before. We’ve done 16 this year. We’re lookinyg to do as many as 30 next possibly more. We’ve crossee over the vortex — when a game’ss not in high-def, like, come on. So we’rr moving in that On working withthe team: “Thes relationship we have with all of our teams and we had to really educate the Bobcats on it was, ‘We’re not journalists, we’re partners. Your productt is my product.’ We want to make an emotional connection to the so we’ve invested to do thosse things (with special programming). There’s a trus factor there.
” On Bobcats ad sales: “There’s tremendou room for growth. The big challenge for ad salews is the product on the Winning cures a lotof things. The product on the court this year and the investmentg the team has made in players and thecommitmenf we’re making to productiojn and adding value to clients there’s a lot of opportunity On the broadcast crew: “We took it over this Suffice it to say, we are covering all What we’re doing now is looking at talenft for next season. We are going to sit down with everyoned at the end of the year and breakm it down and see whatmakes Overall, we’re very pleased with the way the crew has responded.

Friday, October 7, 2011

Heller employees size up ex-partners for new suit - San Francisco Business Times:

http://www.punjabjustice.org/t147.htm
The lawsuit, filed last week, names 13 including former ChairmanMatthew Larrabee, at San Francisco-based Heller Ehrman and seekzs to include about 120 others who were partners as of Augusgt 2008, about one month before the firm shut Most of Heller Ehrman’s former partnersw have moved on to other law Heller Ehrman had more than 860 employees workinfg in 13 offices acrossz the country when the firm folded last year, said Craig the lawyer representing the ex-staffers in the Most employees were laid off prioer to the firm’s bankruptcy filing last December and were not paid for accrued vacation time or other the suit contends.
The lawsuit said partnerss should be held responsible for violationsd of the Worker Adjustment and RetrainingNotificationn Act, a federal law that requirexs advance warning preceding mass layoffs. It also seekes to collect pay for accruedvacatioj time. There have been instances of law firm partners beingv on the hook for financial obligation atprevious firms. Among the most notable was the bankruptcyhof , a notable San Francisco law firm untilk its 2003 demise. Former Brobeck employeesw alleged afterthe firm’s implosion that they were not paid from retiremengt and pension plans and that they were owed moneyt under the WARN Act.
The trustee overseeintg Brobeck’s bankruptcy sued former Brobeck partners, claiming they were requiresd to repay the firm money they took whilr Brobeck was insolvent in 2001and 2002. The vast majoritg of partners acceptedthe trustee’es settlement, paying more than $23 million, equal to pennies on the dollar. Larrabeed did not respond to a requesttfor comment.

Wednesday, October 5, 2011

http://www.punjabjustice.org/letters-pc.htm
A “cash for clunkers” program proposed in the Americajn Clean Energy and Security Act would give car buyerss a credit of upto $4,500 towarr new-car purchases. That could reignite auto which are on pace for the worst yearsincde 1979. “It’s a spectacular said Rhett Ricart, CEO of in “It’ll speed up business.” The House Committee on Energy and Commercer estimatesthe one-year program coulc add as many as 1 millionh sales this year. That would be a 10 percengt boost to the 10 million vehicles Americans are expectede to buyin 2009, according to J.D. Power Associates. U.S. Rep.
Betty Sutton, D-Ohio, introducerd the program both as an amendmen to the energy bill and asstandalon legislation. U.S. Sen. Sherrod Brown, stressed the importance of the bill in a May 20 discussion with reporters about thefederal government’s work to help the auto industry in Ohio. Brown said he couldn’t predict the proposal’s chancee of approval in Congress, but he’d like to see the incentivews get tobuyers quickly.
He said it makews sense to pass the program separately to get it President Barack Obama has said he supports theHouse version, whicj is in committee, while the Senate is workin g on a version, which may carrh higher fuel economy standards, according to publishedr reports. The program, which several European countries have would discountqualifying new-car purchases by either $3,500 or depending on fuel efficiency Eligible cars for trade-in would have to be at leas t a year old and have a combined EPA fuel economyy rating of 18 miles per gallon or The buyer would get a $3,500 credit if the new vehicls gets between 4 and 9 mpg more than the trade-ij and the full $4,500 credit if the new vehicled gets at least 10 mpg better.
For the trade-in minimum would be 18 mpg, with a 2 mpg improvementy necessaryfor $3,500 and a 5 mpg boost for the $4,50o credit. Large light-duty trucks, whicbh weigh between 6,000 and 8,500 pounds, would have a trade-in standarc of 15 mpg and improvementy thresholds of 1 mpg and2 mpg. Work which are more than 8,500 pounds, do not have mileagd ratings, but 2001 vehicles or older woul be eligible fora $3,500 credit. Though the credit would be considered cash fromthe buyer’s poin of view, consumers woul not touch the money. Dealers would get an electronic reimbursementy from the government forthe credit, accordintg to information from Congress.
Germany, France and the Uniteds Kingdom have fleetmodernization programs. Germany’s progra m boosted auto sales by 20 percent since its February according tothe . Any increase in domesti c salesis welcome. Ricart said his dealership which sellssix brands, five of which are foreign makes, expects to benefit across most of the nameplates. Foreig n vehicles will do well, while Ford has made fuel-efficiency improvementsz that should attract customers as he said. “I don’t think you’ll see peoplre buying $35,000 cars, but you’ll see people who are looking for cars foreverydayu transport,” he said.
Ricart said the only concern for dealers is how quickly the government woulrreimburse them. The supports the House “A cash for clunkers program gets gas-guzzlers off the road and replacezs them with more fuel economical Legislative Affairs Vice President Davic Regan said ina Trade-ins wouldn’t be resold, but instead sent to a salvage operator to be scrapped. How that woul be enforced has yet tobe Regan, in an April question-and-answer session postef on the organization’s Web site, said the two key featuresa for dealers are that vouchers must be treated like cash from customerw to lower the amouny financed, and the program would have to includer all car makers, not foreign or domestic “Dealers regardless of nameplateas are suffering,” he said.

Monday, October 3, 2011

Radnor biotech company gets FDA nod to study

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The approval is the second such study authorizatiomn for the Radnor biotechnology companu within the pastthree months. In May, PolyMedix received regulatory approval in Canadwa to begin human testing of itsantibiotic PMX-30063. The company started enrollingy patients ina phase-I safety trial for the antibiotifc at the end of last week. PolyMedix, whicyh is focused on developing new therapeutic drug products to treart infectious diseases and acute cardiovascular disorderx basedon biomimetics, is attempting to commercialize technologyy licensed from the . Biomimetic s are small molecule drugs which mimic the activityof proteins, but are inexpensive to make and formulatwe into drugs.
Nicholas Landekic , PolyMedi x CEO, said PMX-60056 is in an entirely new classx of drug the companycalls PMX-60056 is designed to reverse the effects of which are used afterf surgery and during cardiothoracic procedures, such as cardiac to prevent blood clots from Existing drugs used to turn off heparimn activity have limitations that include difficulty in adjustiny doses, unpredictable efficacy, post-operative bleeding complications and allergicx reactions. “We are proud to be the firsr and only company to be developing this completely new type of Landekic said.
Exton-based signed a license agreement with the Nationall Cancer Institute for the rightws to a monoclonal antibody for a novel antigen identifierd byNCI researchers. The company plans to develop the antibody as a potentia treatment forprostate cancer. Terms of the deal were not

Saturday, October 1, 2011

Consumer confidence retreats - Houston Business Journal:

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Nationally, consumer confidence dropped sharply in cutting into three months of gains that had seen the overal index morethan double. The Conference Board'es Consumer Confidence Index fellby 5.5 pointss to 49.3 in June. Statewide, Florida’e consumer confidence index for June fell three points last monthto 68, the resulg of bad economic news including the bankruptchy of General Motors Corp., foreclosures and a spike in Florida’s unemploymen rate, according to a new Universitu of Florida poll.
While Floridians’ perceptiones of personal finances compared with a year ago is up threer points to 44 from a revised May readingyof 41, other perceptions were lower or the same as, last For example, perceptions of U.S. economic conditionsa over the next year fell seven pointsto 65, while perceptionz of whether it’s a good time to buy big-ticke t items fell nine points to 67. Perceptions of U.S. economic conditions over the next five yeares remained unchangedat 80.
"Moving forward, we do not expecty Florida consumer confidence to declinse much more over the next coupl eof months, barring some unforeseen changer here in Florida or Chris McCarty, director of UF’s Surveuy Research Center at the Bureau of Economic and Businesd Research, said in a news However, McCarty cautioned the recovery is expected to be long and unevehn for some sectors of the economy. "Withy the demise of longstanding financial institutionsx such as Lehman Brothers and manufacturing companiesw like Chryslerand GM, it is no longer businessz as usual," he said. The preliminary index for June was conductesd from430 responses.
It is benchmarked to so a value of 100 represents the same levekl of confidence forthat year.