KCRG | Fort Bliss soldier 1 of 2 killed in Afghanistan WTVM A 25-year-old Fort Bliss soldier is one of two soldiers killed in an enemy bombing attack on their vehicle in Afghanistan. Fort Bliss soldier dies from IED explosion in Afghanistan Cullman soldier killed in action in Afghanistan |
Friday, June 29, 2012
Fort Bliss soldier 1 of 2 killed in Afghanistan - WTVM
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Thursday, June 28, 2012
Judge sets Statler auction - The Business Journal of Milwaukee:
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U.S. Bankruptcy Judge Carl Bucki, chief of the Western Districty ofNew York, orderedf bids for the downtown Buffalop landmark be submitted by July 9, with an auctio to be held on July 14 but only if two or more bids are submitted. Bucki will considet the bids and auction resulta during a July 21 sale hearing andstatus report. The auctionm could seal the fate of the Statler and ultimatel remove LLC andits principal, British investor Bashar Issa, from owning the building. Issa is facinh legal and financial issues both in Buffalooand Manchester, England. Bucki said he expects the transaction to be completes by the endof July.
The auction was disputexd in a last minute filing made late Wednesdau morning by attorneysrepresenting Issa’s father, Mohmoud Al Issa, who holdxs a $4.5 million mortgage on the property. Mohmoux Al Issa, a Jordan resident and was not present. “We don’t disagree that the property needs tobe sold, but not done so in such a hurruy up manor,” argued Mohmoud Al Issa’s attorney, Raymond a partner in . “The questio is whether this is the best way todo it. This is a hurry up and a ‘Hail Mary.’ Fink alleged that the elder Issa has invested morethan $12 millionm in Statler-related expenses during the past thred years.
“My client has more at stakwe in this venture than anyother creditor,” Fink said. But, with debts mounting and its tenant roll dwindling and revenuesources shrinking, attorneye representing the court-appointed trustee, said the sale is necessar y to stabilize the “It wasn’t the trustee who failed to adequatelyt capitalize this building,” said Garry Graber, a partnere with . Graber said when Bashar Issa bough the Statler threeyears ago, the nearly 600,000-square-fooy building was more than 50 percent occupied.
it has less than a 20 percenf occupancy rate and lost ananchor tenant, the law firm of , who left for Main Plac Tower because of the building’s uncertain ownershipp and future. The Statler, accordinvg to previous court testimony, is losing more than $80,00 a month. BSC Development Buffalo LLC has mounting debt including owing the City of Buffalo and Erie County morethan $200,00o0 in unpaid property taxes with another $200,00 due on June 30. Grabeer said to hire a professional auctioneer to market the Statle r wouldcost $45,000 money the Statler does not have in its bank account. “Ww don’t disagree that this is a ‘Hail Graber said.
“That’s exactly what it is. This is abou economics, not anything else. Bashar Issa can’t financr the building and hisfather doesn’t want to.” Several groups have expressed an interest in the Statler including Long Islands developer Uri Kaufman, who is considering making a bid and convertinyg the bulk of the building into apartments. The building’e anchor tenant, Park Lane would remain and continue with itsbusiness operations. The Park Lane has more than 200 eventsa booked in the Statler in the cominyg monthsand years. It remains in full operation. Wednesday morning, it also filed a $1.29 million claim against BSC DevelopmentBuffalo LLC.
“The Park Lane is one of the last tenantdleft standing,” said David Pfalzgraf Jr., the Park Lane’s “They are very concerned, every day, about the The auction is the latest in a long seriesd of legal proceedings against BSC Development Buffaloi LLC and against Issa, both in Buffalo and
U.S. Bankruptcy Judge Carl Bucki, chief of the Western Districty ofNew York, orderedf bids for the downtown Buffalop landmark be submitted by July 9, with an auctio to be held on July 14 but only if two or more bids are submitted. Bucki will considet the bids and auction resulta during a July 21 sale hearing andstatus report. The auctionm could seal the fate of the Statler and ultimatel remove LLC andits principal, British investor Bashar Issa, from owning the building. Issa is facinh legal and financial issues both in Buffalooand Manchester, England. Bucki said he expects the transaction to be completes by the endof July.
The auction was disputexd in a last minute filing made late Wednesdau morning by attorneysrepresenting Issa’s father, Mohmoud Al Issa, who holdxs a $4.5 million mortgage on the property. Mohmoux Al Issa, a Jordan resident and was not present. “We don’t disagree that the property needs tobe sold, but not done so in such a hurruy up manor,” argued Mohmoud Al Issa’s attorney, Raymond a partner in . “The questio is whether this is the best way todo it. This is a hurry up and a ‘Hail Mary.’ Fink alleged that the elder Issa has invested morethan $12 millionm in Statler-related expenses during the past thred years.
“My client has more at stakwe in this venture than anyother creditor,” Fink said. But, with debts mounting and its tenant roll dwindling and revenuesources shrinking, attorneye representing the court-appointed trustee, said the sale is necessar y to stabilize the “It wasn’t the trustee who failed to adequatelyt capitalize this building,” said Garry Graber, a partnere with . Graber said when Bashar Issa bough the Statler threeyears ago, the nearly 600,000-square-fooy building was more than 50 percent occupied.
it has less than a 20 percenf occupancy rate and lost ananchor tenant, the law firm of , who left for Main Plac Tower because of the building’s uncertain ownershipp and future. The Statler, accordinvg to previous court testimony, is losing more than $80,00 a month. BSC Development Buffalo LLC has mounting debt including owing the City of Buffalo and Erie County morethan $200,00o0 in unpaid property taxes with another $200,00 due on June 30. Grabeer said to hire a professional auctioneer to market the Statle r wouldcost $45,000 money the Statler does not have in its bank account. “Ww don’t disagree that this is a ‘Hail Graber said.
“That’s exactly what it is. This is abou economics, not anything else. Bashar Issa can’t financr the building and hisfather doesn’t want to.” Several groups have expressed an interest in the Statler including Long Islands developer Uri Kaufman, who is considering making a bid and convertinyg the bulk of the building into apartments. The building’e anchor tenant, Park Lane would remain and continue with itsbusiness operations. The Park Lane has more than 200 eventsa booked in the Statler in the cominyg monthsand years. It remains in full operation. Wednesday morning, it also filed a $1.29 million claim against BSC DevelopmentBuffalo LLC.
“The Park Lane is one of the last tenantdleft standing,” said David Pfalzgraf Jr., the Park Lane’s “They are very concerned, every day, about the The auction is the latest in a long seriesd of legal proceedings against BSC Development Buffaloi LLC and against Issa, both in Buffalo and
Wednesday, June 27, 2012
Fig. converts to Chapter 7 bankruptcy to dissolve firm - St. Louis Business Journal:
uraa-quartely.blogspot.com
As a result, the committee of creditors who represent felloqw companies and individuals owed money by the formerf cosmetic Lipodissolve provider willbe dissolved. A trustee will be appointed to overses the liquidationof Fig.'s Fig. reported about $20.9 million in assets, but until thos assets are sold, it will be virtually impossible to know how much they will be worth and how much monehy will be available for distribution to creditors followiny deductions foradministrative costs. A motion filed in Apriol by creditor argued thatbecause Fig. has not continueed any business operations since itcollapsed Dec. 7 and therse is "no reasonable prospect" that Fig.
will it would be best to streamlinse the bankruptcy process and reduce administrative coste by switching to procedures governed by Chapterr 7bankruptcy rules. GE Money also said a Chapteer 7 trustee assigned by the court will be able toinvestigate Fig.'s use of funds and "determine whether any impropetr fund transfers have occurred." Fig. was headquarterer in Maryland Heights and had grown to 18 locationxs acrossthe country, including three in the St. Louis when it shut its doors. Just one in Costa Mesa, Calif., was independently owne and remains open. The centerz provided cosmetic body-shaping injections.
The cost of a seriesz of treatments typically beganat $2,500 per body GE Money financed medical procedures for Fig. It put up the money charged by Fig. and then collected monthly payments with interestfrom Fig.'s customers. When Fig. closed thousands of patients were stilpl waiting toreceive treatments. GE Money estimated its claimz against Fig. total approximately $25 million, more than any otheer creditor. Fig. originally listed debts totalingabout $59.3e million.
On top of that, GE Money's claimm would elevate that to morethan $84 and many additional proofse of claim have been filed with, but not sortedc out by, the bankruptcy In any case, the shortfall will be tremendous, said Peter Kerth, a lawyer with in Clayton who has been representinvg the creditors committee.
As a result, the committee of creditors who represent felloqw companies and individuals owed money by the formerf cosmetic Lipodissolve provider willbe dissolved. A trustee will be appointed to overses the liquidationof Fig.'s Fig. reported about $20.9 million in assets, but until thos assets are sold, it will be virtually impossible to know how much they will be worth and how much monehy will be available for distribution to creditors followiny deductions foradministrative costs. A motion filed in Apriol by creditor argued thatbecause Fig. has not continueed any business operations since itcollapsed Dec. 7 and therse is "no reasonable prospect" that Fig.
will it would be best to streamlinse the bankruptcy process and reduce administrative coste by switching to procedures governed by Chapterr 7bankruptcy rules. GE Money also said a Chapteer 7 trustee assigned by the court will be able toinvestigate Fig.'s use of funds and "determine whether any impropetr fund transfers have occurred." Fig. was headquarterer in Maryland Heights and had grown to 18 locationxs acrossthe country, including three in the St. Louis when it shut its doors. Just one in Costa Mesa, Calif., was independently owne and remains open. The centerz provided cosmetic body-shaping injections.
The cost of a seriesz of treatments typically beganat $2,500 per body GE Money financed medical procedures for Fig. It put up the money charged by Fig. and then collected monthly payments with interestfrom Fig.'s customers. When Fig. closed thousands of patients were stilpl waiting toreceive treatments. GE Money estimated its claimz against Fig. total approximately $25 million, more than any otheer creditor. Fig. originally listed debts totalingabout $59.3e million.
On top of that, GE Money's claimm would elevate that to morethan $84 and many additional proofse of claim have been filed with, but not sortedc out by, the bankruptcy In any case, the shortfall will be tremendous, said Peter Kerth, a lawyer with in Clayton who has been representinvg the creditors committee.
Monday, June 25, 2012
Sunday, June 24, 2012
Commercial real estate news- View Real estate news Across the US
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| | | | Crescent LLC | | | Cushmamn & Wakefield of Georgia Inc. | | | | | | | Duke Energu Corporation | Duke Realty Corp. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Joneas Lang LaSalle | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Morga n Stanley | | | Mortenson Construction | Mortgagre Bankers Association | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.
S. Bancor p | U.S. Bank | | | | U.S. Generalk Services Administration | | | | UNC Hospitalz | | | | | | | | | Universityh of North Carolina | | | | | | | | | | | | Wal-Mary Stores, Inc. | | | | | | | | | | | | |
| | | | Crescent LLC | | | Cushmamn & Wakefield of Georgia Inc. | | | | | | | Duke Energu Corporation | Duke Realty Corp. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Joneas Lang LaSalle | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Morga n Stanley | | | Mortenson Construction | Mortgagre Bankers Association | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.
S. Bancor p | U.S. Bank | | | | U.S. Generalk Services Administration | | | | UNC Hospitalz | | | | | | | | | Universityh of North Carolina | | | | | | | | | | | | Wal-Mary Stores, Inc. | | | | | | | | | | | | |
Friday, June 22, 2012
Fitch cuts UCBH rating as bank suspends dividend - Baltimore Business Journal:
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The troubled bank also hirefd a financial adviser to assist withcapitak planning. Fitch downgraded UCBH’s long-term issuer debt ratingsx to CCCfrom B-plus on Tuesday, citint the bank’s decision to defer dividend payments on hybridr securities. The deferral includes payments onits $298 millionh of preferred stock issued to the U.S. Treasury undetr the Troubled AssetRelief Program. “While the holding company presently has sufficient cash resources to pay these Fitch believes that future dividend payments would have likelyubeen restricted,” Fitch said in a statement.
“Given UCBH’sx financial pressures, Fitch anticipates that the companty will likely be subject toregulatoryg action, which would potentially weaken the parent company’ financial profile further,” Fitch said. The ratinga agency said the bank remains highly exposed to commercialk real estate introubled markets. Fitcjh notes that UCBH (NASDAQ: UCBH) remains in discussions with , a majodr shareholder, about a capital injection. But beyondf that, UCBH would have trouble raisingh substantial capital onWall Street.
“The challenging economicd and operating environment calls for difficul t decisions and a specific action plan that puts UCBH on a solisd foundation forthe future,” said Thomasa Wu, chairman and CEO of UCBH. “Wse continue to work toward completinv our financial restatements in thecurrent quarter. “By conservinyg and building capital, focusing on our core bankiny businesses and continuing to provide exceptional servic e toour customers, we will be in a strongetr position to realize our long-term growth potential,” Wu UCBH has been strugglinh with residential construction loans in Southern California. The bank’s shares recently changed handsat $1.
21 afterd trading over the past year betweenn $1 and $7.65. UCBH, with $13 billio in assets, has built a global presence with officed inkey U.S. cities and in Chinsa to serve the Chinese communities in the Unitex States and American companies doing businessin
The troubled bank also hirefd a financial adviser to assist withcapitak planning. Fitch downgraded UCBH’s long-term issuer debt ratingsx to CCCfrom B-plus on Tuesday, citint the bank’s decision to defer dividend payments on hybridr securities. The deferral includes payments onits $298 millionh of preferred stock issued to the U.S. Treasury undetr the Troubled AssetRelief Program. “While the holding company presently has sufficient cash resources to pay these Fitch believes that future dividend payments would have likelyubeen restricted,” Fitch said in a statement.
“Given UCBH’sx financial pressures, Fitch anticipates that the companty will likely be subject toregulatoryg action, which would potentially weaken the parent company’ financial profile further,” Fitch said. The ratinga agency said the bank remains highly exposed to commercialk real estate introubled markets. Fitcjh notes that UCBH (NASDAQ: UCBH) remains in discussions with , a majodr shareholder, about a capital injection. But beyondf that, UCBH would have trouble raisingh substantial capital onWall Street.
“The challenging economicd and operating environment calls for difficul t decisions and a specific action plan that puts UCBH on a solisd foundation forthe future,” said Thomasa Wu, chairman and CEO of UCBH. “Wse continue to work toward completinv our financial restatements in thecurrent quarter. “By conservinyg and building capital, focusing on our core bankiny businesses and continuing to provide exceptional servic e toour customers, we will be in a strongetr position to realize our long-term growth potential,” Wu UCBH has been strugglinh with residential construction loans in Southern California. The bank’s shares recently changed handsat $1.
21 afterd trading over the past year betweenn $1 and $7.65. UCBH, with $13 billio in assets, has built a global presence with officed inkey U.S. cities and in Chinsa to serve the Chinese communities in the Unitex States and American companies doing businessin
Thursday, June 21, 2012
Greeprints: Green soldiers - Washington Business Journal:
hyperwave-exhausted.blogspot.com
Countless local companies are responsible for speedintg up the procession towardenvironmental nirvana. Here are just a few in the faster-movinyg retinue to watch in 2009. You’ll probablyy catch Inc. toward the front of the pack. The Alexandria company got its environmental headstart fouryearz ago, back when for most people described a colord of the rainbow rather than a transformative shift in construction.
Calvert-Joneds started as an appliance shop at the time of theTrumanm Doctrine, tinkering with its business model over the year s until it has become a commercial mechanical engineering compant that specializes in energy conservation and whose services run the gamurt from energy audits to air-duct cleanin g to water treatment to light bulb recycling to Its list of clients runs from American University and to BB&rT and CB Richard Ellis Group Inc. The recession causedr Calvert-Jones to scale back on roughly seve n positionslast year, and talk an eighthb employee into early retirement. This year, the 195-person company is positioninfg itself to rampback up.
It is talkingt to military installations such as the Marinse Corps basein Quantico, Va., and the Naval Air Systemds Command in Patuxent, Md., aboutt potential stimulus-funded jobs to replace heating-and-cooling systema and equipment. But it expects the bulk of the extrs dollars to arrive later inthe year. It is awaiting word on bids for $110 millionn worth of projectsso far, double its entire annuakl average for nearly the past decade. Though, it has collecte on only $700,000 of it year-to-date. “We’re going to have greatg third and fourth quarters because the projectsx will be startedby then,” said Presidentt Stan Peregoy. “The startup [phase] is the only thing.
You just can’rt do it overnight.” nailed arguablyu its most renowned client in the final months of last none other than thegrand pooh-bah of green the . But the Northwest D.C. which manages energy use analyses, green construction and retrofits, or full propertiea for commercial buildings, downplays that conquest — its Web site doesn’tg even have an announcement — saying each client is With customers like the Archdiocesreof Baltimore, Goodwill Industries International and the National Wildlife Federation, that may be But providing property managementf support for the USGBC’s headquarters helps propel the 20-person, 6-year-old business into likely one of its fastest-growinyg years.
Previously landlord-side AtSite embraced the sustainability part of its service offeringd inlate 2007. So far this the company has boosted its staff by 25 percent and doublefdthe green-building portfolio it is measuringg and managing. While increasing acceptance of green gets some AtSite says, so do the sagging revenues of a recession. “Outr message is reducing costs and increasing qualitygand performance,” said CEO Davoe Kapelina. “I think that resonates in any That definitely is resonating right now in some difficult Cleanenergy doesn’t just mean solar panels or windmillas to .
Sometimes it really is just about A division ofUpper Marlboro-based Daycon Productd Co. Inc., an eco-friendly cleaning product s distributor, Penguin Care concentrates on training cleaning contractors and property managers to putthe earth’s welfaree over toxic chemicals in theitr cleaning practices, helping certify them under Greenj Seal standards. “National standards for cleaning arebeinb mandated,” said Marion Stecklow, Penguin Care’s executive vice who herself is a certifiesd expert in the Cleaning Industry Management “There are a lot of contractsa coming out now, RFPs, requiring that cleaning servicre providers be Green Seal-certified.
” Stecklow guessesd she has been seeing about two such RFPs or contract requirements a month in the past Before that, she said, theree were none. So look for growt h at Penguin Care, up until now prett much a Stecklow-run shop. She just hiredx a second instructor and plans to add four to five morebefor Halloween. They will step in front of class sizes that coule very well double in the next as interested trainees make inquiries from as far as New New York and Look for the likelihoor of Penguin Care stepping out of the Daycon nest and standingt on its ownindependenf — and, yes, happy — corporats feet.
If that happens, then so would begin, withih that perpetual green movement, the marcuh of Penguin Care.
Countless local companies are responsible for speedintg up the procession towardenvironmental nirvana. Here are just a few in the faster-movinyg retinue to watch in 2009. You’ll probablyy catch Inc. toward the front of the pack. The Alexandria company got its environmental headstart fouryearz ago, back when for most people described a colord of the rainbow rather than a transformative shift in construction.
Calvert-Joneds started as an appliance shop at the time of theTrumanm Doctrine, tinkering with its business model over the year s until it has become a commercial mechanical engineering compant that specializes in energy conservation and whose services run the gamurt from energy audits to air-duct cleanin g to water treatment to light bulb recycling to Its list of clients runs from American University and to BB&rT and CB Richard Ellis Group Inc. The recession causedr Calvert-Jones to scale back on roughly seve n positionslast year, and talk an eighthb employee into early retirement. This year, the 195-person company is positioninfg itself to rampback up.
It is talkingt to military installations such as the Marinse Corps basein Quantico, Va., and the Naval Air Systemds Command in Patuxent, Md., aboutt potential stimulus-funded jobs to replace heating-and-cooling systema and equipment. But it expects the bulk of the extrs dollars to arrive later inthe year. It is awaiting word on bids for $110 millionn worth of projectsso far, double its entire annuakl average for nearly the past decade. Though, it has collecte on only $700,000 of it year-to-date. “We’re going to have greatg third and fourth quarters because the projectsx will be startedby then,” said Presidentt Stan Peregoy. “The startup [phase] is the only thing.
You just can’rt do it overnight.” nailed arguablyu its most renowned client in the final months of last none other than thegrand pooh-bah of green the . But the Northwest D.C. which manages energy use analyses, green construction and retrofits, or full propertiea for commercial buildings, downplays that conquest — its Web site doesn’tg even have an announcement — saying each client is With customers like the Archdiocesreof Baltimore, Goodwill Industries International and the National Wildlife Federation, that may be But providing property managementf support for the USGBC’s headquarters helps propel the 20-person, 6-year-old business into likely one of its fastest-growinyg years.
Previously landlord-side AtSite embraced the sustainability part of its service offeringd inlate 2007. So far this the company has boosted its staff by 25 percent and doublefdthe green-building portfolio it is measuringg and managing. While increasing acceptance of green gets some AtSite says, so do the sagging revenues of a recession. “Outr message is reducing costs and increasing qualitygand performance,” said CEO Davoe Kapelina. “I think that resonates in any That definitely is resonating right now in some difficult Cleanenergy doesn’t just mean solar panels or windmillas to .
Sometimes it really is just about A division ofUpper Marlboro-based Daycon Productd Co. Inc., an eco-friendly cleaning product s distributor, Penguin Care concentrates on training cleaning contractors and property managers to putthe earth’s welfaree over toxic chemicals in theitr cleaning practices, helping certify them under Greenj Seal standards. “National standards for cleaning arebeinb mandated,” said Marion Stecklow, Penguin Care’s executive vice who herself is a certifiesd expert in the Cleaning Industry Management “There are a lot of contractsa coming out now, RFPs, requiring that cleaning servicre providers be Green Seal-certified.
” Stecklow guessesd she has been seeing about two such RFPs or contract requirements a month in the past Before that, she said, theree were none. So look for growt h at Penguin Care, up until now prett much a Stecklow-run shop. She just hiredx a second instructor and plans to add four to five morebefor Halloween. They will step in front of class sizes that coule very well double in the next as interested trainees make inquiries from as far as New New York and Look for the likelihoor of Penguin Care stepping out of the Daycon nest and standingt on its ownindependenf — and, yes, happy — corporats feet.
If that happens, then so would begin, withih that perpetual green movement, the marcuh of Penguin Care.
Wednesday, June 20, 2012
Eddie Bauer would be area
ekaterinaiuvo.blogspot.com
The Bellevue-based retailer has seen a mountaij of losses and struggled with servicinh its debt as sales have droppesd during theeconomic downturn. Accordinh to several news sources, including the Wall Street Journao and Bloomberg News Company executives have scrambler for months looking for relieffrom creditors. Eddie Bauefr (NASDAQ: EBHI) had reported having $268 millioj in outstanding debt, includingh $193 million in term loanx and $75 million in convertible notes, whichg company executives have been trying to convert into sharess ofthe company.
“The singler biggest issue facing this company is our debt Our capital structure simply has too much debt for the economicc reality wenow face,” Eddie Bauer CEO Neil Fiske told industrh analysts in a May 14 conferencee call, according to a transcript. Accordinv to filings with the Securities and Exchange Eddie Bauer had total assetzsof $525.22 million as of April. The companuy listed total liabilitiesof $448.9 million. Eddiw Bauer reported net lossesof $165.t5 million in fiscal year 2008, part of a total of $478.7 million in losses durinh the past three fiscal years. In the firsrt quarter that ended in the company reported net lossesof 44.5 million.
Greg an Atlanta-based consultant for Conway MacKenzie who worksd with financially stressed retailers lookingyto restructure, said Eddie Bauetr is facing the same recession-related issues as most other retailers in this economy. Sales are down and so is The big difference for someretailersz — like Eddie Bauerr — is that as revenue has tanked the company’x heavy debt becomes more difficult to service, he “Virtually every retailer is experiencing the same thingt as Eddie Bauer,” Charleston said. “Maybe because of theit debt Eddie Bauer is feeling the pain more than the but they are all goingthroughb it.
” If Eddie Bauer does seek bankruptcu protection, it would be another reminder of how the recessio is hitting home. When WaMu filed for bankruptcgyin September, it was the largest failure in U.S. banking history. WaMu listesd debts of about $8 billion and assets of $32 although it later said some of its assets were tied tocompanty stock, which became virtually worthless. When Wilsonville, Ore.-basecd Joe’s Sports filed for bankruptcyy protectionin March, the company listed both assetz and debt of $100 million to $500 million.
The Bellevue-based retailer has seen a mountaij of losses and struggled with servicinh its debt as sales have droppesd during theeconomic downturn. Accordinh to several news sources, including the Wall Street Journao and Bloomberg News Company executives have scrambler for months looking for relieffrom creditors. Eddie Bauefr (NASDAQ: EBHI) had reported having $268 millioj in outstanding debt, includingh $193 million in term loanx and $75 million in convertible notes, whichg company executives have been trying to convert into sharess ofthe company.
“The singler biggest issue facing this company is our debt Our capital structure simply has too much debt for the economicc reality wenow face,” Eddie Bauer CEO Neil Fiske told industrh analysts in a May 14 conferencee call, according to a transcript. Accordinv to filings with the Securities and Exchange Eddie Bauer had total assetzsof $525.22 million as of April. The companuy listed total liabilitiesof $448.9 million. Eddiw Bauer reported net lossesof $165.t5 million in fiscal year 2008, part of a total of $478.7 million in losses durinh the past three fiscal years. In the firsrt quarter that ended in the company reported net lossesof 44.5 million.
Greg an Atlanta-based consultant for Conway MacKenzie who worksd with financially stressed retailers lookingyto restructure, said Eddie Bauetr is facing the same recession-related issues as most other retailers in this economy. Sales are down and so is The big difference for someretailersz — like Eddie Bauerr — is that as revenue has tanked the company’x heavy debt becomes more difficult to service, he “Virtually every retailer is experiencing the same thingt as Eddie Bauer,” Charleston said. “Maybe because of theit debt Eddie Bauer is feeling the pain more than the but they are all goingthroughb it.
” If Eddie Bauer does seek bankruptcu protection, it would be another reminder of how the recessio is hitting home. When WaMu filed for bankruptcgyin September, it was the largest failure in U.S. banking history. WaMu listesd debts of about $8 billion and assets of $32 although it later said some of its assets were tied tocompanty stock, which became virtually worthless. When Wilsonville, Ore.-basecd Joe’s Sports filed for bankruptcyy protectionin March, the company listed both assetz and debt of $100 million to $500 million.
Monday, June 18, 2012
Melbourne firm lands part of Army contract - Denver Business Journal:
evlampiyacyxybyw.blogspot.com
Melbourne-based BRPH, along with its D.C.-based design/build partner Lifecycle ConstructionServices LLC, will be involvee in design and construction of several administrativew facilities in the Northeast, according to a news The first project under this projectr is a $3 million new Battaliob Headquarters project at Fort Lee, Va., the release • Battalion Headquarters’ administration, special functions, storage and classroonm areas.
• Soldier Family Assistance Center, a transitional facilit y withchild care, financial assistance meeting rooms, kitchenettes, chaplain offices and other assistanced to accommodate soldiers and their BRPH provides planning, architecture, engineering, interiorr design and construction services to the aerospace and aviation and industrial and commercial real estates markets, along with government and educationap agencies. The firm has offices is Melbourne, Orlando, West Palm Atlanta and Savannah, Ga.
Melbourne-based BRPH, along with its D.C.-based design/build partner Lifecycle ConstructionServices LLC, will be involvee in design and construction of several administrativew facilities in the Northeast, according to a news The first project under this projectr is a $3 million new Battaliob Headquarters project at Fort Lee, Va., the release • Battalion Headquarters’ administration, special functions, storage and classroonm areas.
• Soldier Family Assistance Center, a transitional facilit y withchild care, financial assistance meeting rooms, kitchenettes, chaplain offices and other assistanced to accommodate soldiers and their BRPH provides planning, architecture, engineering, interiorr design and construction services to the aerospace and aviation and industrial and commercial real estates markets, along with government and educationap agencies. The firm has offices is Melbourne, Orlando, West Palm Atlanta and Savannah, Ga.
Sunday, June 17, 2012
Helium Comedy Club to Host Unique Singles Night•Stage Time ... - Stage Time Magazine
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Stage Time Magazine | Helium Comedy Club to Host Unique Singles Night•Stage Time ... Stage Time Magazine Date My Text will bring its unique blend of text messaging, the fun and energy of an evening out, and the brain-teasing challenge of trivia to Helium Comedy ... |
Friday, June 15, 2012
Report: IBM in talks to buy Sun for $6.5B - Dallas Business Journal:
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billion. The price reported by the WallStreet Journal, citing unidentified sources it said are familia with the matter, would be a 100 percent premium over Sun's closing price of $4.97 a share Santa Clara-based Sun (Nasdaq: JAVA) reorganize d into three business units as its high-enf servers and storage devices have struggler in the marketplace. It laid off more than 6,00o employees last fall after reporting analmost $500 million The deal would be the largest acquisitio n in IBM (NYSE: IBM) history.
The Journa reported that despite the its sources said there is no assurance that a deal will be The paper said that Sun approached a number of largtech companies, including (NYSE: HPQ) about an acquisition but was turned H-P has about 3,800 employees in the Sacramentol region. An IBM acquisitionm of Sun is seen as potentiallyt giving it powerful weapons in the competitiobn for the data cented market which research firm IDC says willhit $100 billioj in 2009. "Big Blue" is going head-to-head in the markef against H-P and San Jose-based (Nasdaq: CSCO) which said earlie r this week that it will start selling its own computer in competition against theother two.
Ciscoi and H-P had previously worked togethed inthe market. Palo Alto-basecd H-P made a big move in the market when itpaid $13.9 billion to purchase of Texas-based in August, placing it squarely in competition with IBM on huge outsourcingy contracts. In last year's fourth IBM led in the global serverr market revenuewith $4.9 billion in about 36 percent of the market. HP was No. 2 with $3.9 billiom in sales or aboutg 29 percent ofthe market. (Nasdaq DELL), with $1.4 billionj in sales, and Sun, with about $1.3 billion, were a distantg No. 3 and No. 4.
billion. The price reported by the WallStreet Journal, citing unidentified sources it said are familia with the matter, would be a 100 percent premium over Sun's closing price of $4.97 a share Santa Clara-based Sun (Nasdaq: JAVA) reorganize d into three business units as its high-enf servers and storage devices have struggler in the marketplace. It laid off more than 6,00o employees last fall after reporting analmost $500 million The deal would be the largest acquisitio n in IBM (NYSE: IBM) history.
The Journa reported that despite the its sources said there is no assurance that a deal will be The paper said that Sun approached a number of largtech companies, including (NYSE: HPQ) about an acquisition but was turned H-P has about 3,800 employees in the Sacramentol region. An IBM acquisitionm of Sun is seen as potentiallyt giving it powerful weapons in the competitiobn for the data cented market which research firm IDC says willhit $100 billioj in 2009. "Big Blue" is going head-to-head in the markef against H-P and San Jose-based (Nasdaq: CSCO) which said earlie r this week that it will start selling its own computer in competition against theother two.
Ciscoi and H-P had previously worked togethed inthe market. Palo Alto-basecd H-P made a big move in the market when itpaid $13.9 billion to purchase of Texas-based in August, placing it squarely in competition with IBM on huge outsourcingy contracts. In last year's fourth IBM led in the global serverr market revenuewith $4.9 billion in about 36 percent of the market. HP was No. 2 with $3.9 billiom in sales or aboutg 29 percent ofthe market. (Nasdaq DELL), with $1.4 billionj in sales, and Sun, with about $1.3 billion, were a distantg No. 3 and No. 4.
Thursday, June 14, 2012
Do Ghosts Really Exist? - AllAfrica.com
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Do Ghosts Really Exist? AllAfrica.com There is apparently more to the Dana Air crash than the loss of over 150 souls to the tragedy. Some residents of Iju-Ishaga, a suburb of Lagos where the Dana ... |
Tuesday, June 12, 2012
Scrushy ordered to pay $2.8B for HealthSouth fraud - Sacramento Business Journal:
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billion in damages by a civil courr judge for his rolein ’zs massive accounting fraud scandal. The HealthSoutgh founder was deemed liable for lossex incurredby shareholders, some of whom sued him seekinb to recover their investments. Judgee Allwin Horn announced the verdicf shortly after10 a.m. Thursday. Horn’sd judgment also declared Scrushy’s employment agreements with HealthSouth HealthSouth said it will receive approximatelt 40 percent of any money recoveredffrom Scrushy. Attorneys for the shareholderw filed the suit against Scrushy on behalft of HealthSouth saying he directed the accounting scandal hadrequested $3.6 billion.
Scrushy testified during the trial and deniedany wrongdoing. He was brought to Jeffersonb County for the trial from a Texadfederal prison, where he is currently servinbg seven years for bribing then-Gov. Don Siegelman for a seat on a statse health care policy Scrushy was acquitted of criminal chargee in the HealthSouth fraudin 2005. HealthSouthn said it is unsurw how much might be collectedfrom Scrushy, accordingt to a news release. “We are pleased to see that justic has been served through this judgment and that another chapter of our past has been putbehinds us,” HealthSouth’s statement said.
billion in damages by a civil courr judge for his rolein ’zs massive accounting fraud scandal. The HealthSoutgh founder was deemed liable for lossex incurredby shareholders, some of whom sued him seekinb to recover their investments. Judgee Allwin Horn announced the verdicf shortly after10 a.m. Thursday. Horn’sd judgment also declared Scrushy’s employment agreements with HealthSouth HealthSouth said it will receive approximatelt 40 percent of any money recoveredffrom Scrushy. Attorneys for the shareholderw filed the suit against Scrushy on behalft of HealthSouth saying he directed the accounting scandal hadrequested $3.6 billion.
Scrushy testified during the trial and deniedany wrongdoing. He was brought to Jeffersonb County for the trial from a Texadfederal prison, where he is currently servinbg seven years for bribing then-Gov. Don Siegelman for a seat on a statse health care policy Scrushy was acquitted of criminal chargee in the HealthSouth fraudin 2005. HealthSouthn said it is unsurw how much might be collectedfrom Scrushy, accordingt to a news release. “We are pleased to see that justic has been served through this judgment and that another chapter of our past has been putbehinds us,” HealthSouth’s statement said.
Monday, June 11, 2012
Human Capital: People on the move, June 5 - Washington Business Journal:
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, a Boston-based technology company servinh students, educators and employers, added Ted Fischer as executivde vice presidentof sales, partnerships and strategic initiatives. Fischee was previously a partnerat . Sun Life Financia names Deschenes senior VP and GM of its annuitiea divisionThe U.S. division of , based in Wellesley, namedx Stephen Deschenes senior vice presideng and general manager of itsannuities division. Deschenezs joins Sun Life from , wherse he served as senior vice presiden and chief marketing officer for the retirementincomd group.
Furman Gregory LLC adds Deptula as partned Furman GregoryLLC , a Boston-based corporate law firm now knowbn as Furman Gregory Deptula, added George Deptula as a partner. Deptula most recentlgy practicedat Vena, Riley, Deptula LLP, and continuez his practice in trial and appellatr cases, legal services, and mediation and ADR. Williajm A. Berry & Son promotes Corcoran as project designereWilliam A. Berry & Son Inc. , a Danvers-baseed construction management firm, promotedf Josie Corcoran to project director.
She has served as a projecyt manager at the firm for the past nine Nixon Peabody's Milder elected chairman of ; Braich namedx to firm's IP team Forrest Milder , a partner in the Boston office of Nixo Peabody LLP , was elected chairman of the Americanh Bar Association ’s Forum on Affordable Housing and Community Development for the 2009-2010 In other firm news, Nixon Peabodty added Ravinderjit “Ravi” Braich to its intellectua property department in the Bostobn office as a patent specialist.
, a Boston-based technology company servinh students, educators and employers, added Ted Fischer as executivde vice presidentof sales, partnerships and strategic initiatives. Fischee was previously a partnerat . Sun Life Financia names Deschenes senior VP and GM of its annuitiea divisionThe U.S. division of , based in Wellesley, namedx Stephen Deschenes senior vice presideng and general manager of itsannuities division. Deschenezs joins Sun Life from , wherse he served as senior vice presiden and chief marketing officer for the retirementincomd group.
Furman Gregory LLC adds Deptula as partned Furman GregoryLLC , a Boston-based corporate law firm now knowbn as Furman Gregory Deptula, added George Deptula as a partner. Deptula most recentlgy practicedat Vena, Riley, Deptula LLP, and continuez his practice in trial and appellatr cases, legal services, and mediation and ADR. Williajm A. Berry & Son promotes Corcoran as project designereWilliam A. Berry & Son Inc. , a Danvers-baseed construction management firm, promotedf Josie Corcoran to project director.
She has served as a projecyt manager at the firm for the past nine Nixon Peabody's Milder elected chairman of ; Braich namedx to firm's IP team Forrest Milder , a partner in the Boston office of Nixo Peabody LLP , was elected chairman of the Americanh Bar Association ’s Forum on Affordable Housing and Community Development for the 2009-2010 In other firm news, Nixon Peabodty added Ravinderjit “Ravi” Braich to its intellectua property department in the Bostobn office as a patent specialist.
Sunday, June 10, 2012
Veteran economic developer joins Harris Beach affiliate - The Business Review (Albany):
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Leveille is now fiscal and community advisorat LLC, in N.Y., an affiliate of the law firm . He startedx the new position today. HB Solutiond provides consulting servicesto businesses, governments and nonprofites in the fields of economic communications, human resources, health and human and information technology. Leveille has more than 30 yearss experience in the private andpublixc sectors. Most recently he served as director of economifc development and planning for the town of Bethlehem and executivd director ofthe . He also led the Albanyh Convention Center Authority as chairman from February 2006 toJuly 2008.
Leveillr also worked for the city of Albanuy for more thana decade, including servinfg as commissioner of development and planning, presidenyt of the , and foundinyg co-chair of the Capitalize Albany Executive Since 1990, Leveille has also been the owner and tournamentg director for , which hosts an adulyt lacrosse tournament in Lake Placid annually that is one of the largesy in the world.
Leveille is now fiscal and community advisorat LLC, in N.Y., an affiliate of the law firm . He startedx the new position today. HB Solutiond provides consulting servicesto businesses, governments and nonprofites in the fields of economic communications, human resources, health and human and information technology. Leveille has more than 30 yearss experience in the private andpublixc sectors. Most recently he served as director of economifc development and planning for the town of Bethlehem and executivd director ofthe . He also led the Albanyh Convention Center Authority as chairman from February 2006 toJuly 2008.
Leveillr also worked for the city of Albanuy for more thana decade, including servinfg as commissioner of development and planning, presidenyt of the , and foundinyg co-chair of the Capitalize Albany Executive Since 1990, Leveille has also been the owner and tournamentg director for , which hosts an adulyt lacrosse tournament in Lake Placid annually that is one of the largesy in the world.
Friday, June 8, 2012
Cellino, Barnes donate $1M to UB - Birmingham Business Journal:
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Lisa Mueller, assistant dean for alumni and communications, said the gift matchees the largest single-donation in the history of the law the $1 million given in 2002 by Francix Letro, who graduated UB Law School in 1979 and went on to founfd a successful personal injury In a release announcin g the gift, University at Buffalpo Law School Dean Makau Mutua called it “a extraordinary act of philanthropy” and “qa wonderful down payment on our visionm of academic excellence and our bold aspirations for the Mutua said he plans to inves t the gift in the students, calling them the centra core of the law school.
Specifically, he said the monety will go toward scholarships, making improvements in pedagogicalk technologies in the school andupgrading services. Steve who founded the law firm alongv withRoss Cellino, said they felt they owed a debt of gratitudd to the school wheres they got their start. “Botb Ross and I are graduates of the law school and we’ve come to know many of the professoras and administrators very well,” he said. “Makau Mutuaa is just an outstanding individual and he has a vision thatwe haven’t seen at the schoop yet.
” Barnes said the decisionh to make the gift an unrestricted donationb reflects the confidence they have in the administratorw at the University to utilize the money in the most effectivr ways possible. “We are lawyers, we didn’t feel as thougg we are in a position to dictated how the moneywas spent,” he said. “We have a lot of confidencs in Makau’s vision and we have had long discussionas about where he wants to take the schooland we’red on the same page.” Recognizing the generosithy of Cellino and Barnes, the school has announced planzs to name their main conference located in O’Brian Hall, The Cellino and Barnea Conference Center.
Asked what it feels like to be in a positiojn to giveaway $1 million, especiallyy given the current economic climate, Barnes put the gift into “Both Ross and I come from very humblde beginnings and kind of worked our way up from the he said. “We started out as just the twoof us, now, the practicew is a lucrative practice and I’m just glad we were able to help at a time that I thinjk is very critical to the law school.
”
Lisa Mueller, assistant dean for alumni and communications, said the gift matchees the largest single-donation in the history of the law the $1 million given in 2002 by Francix Letro, who graduated UB Law School in 1979 and went on to founfd a successful personal injury In a release announcin g the gift, University at Buffalpo Law School Dean Makau Mutua called it “a extraordinary act of philanthropy” and “qa wonderful down payment on our visionm of academic excellence and our bold aspirations for the Mutua said he plans to inves t the gift in the students, calling them the centra core of the law school.
Specifically, he said the monety will go toward scholarships, making improvements in pedagogicalk technologies in the school andupgrading services. Steve who founded the law firm alongv withRoss Cellino, said they felt they owed a debt of gratitudd to the school wheres they got their start. “Botb Ross and I are graduates of the law school and we’ve come to know many of the professoras and administrators very well,” he said. “Makau Mutuaa is just an outstanding individual and he has a vision thatwe haven’t seen at the schoop yet.
” Barnes said the decisionh to make the gift an unrestricted donationb reflects the confidence they have in the administratorw at the University to utilize the money in the most effectivr ways possible. “We are lawyers, we didn’t feel as thougg we are in a position to dictated how the moneywas spent,” he said. “We have a lot of confidencs in Makau’s vision and we have had long discussionas about where he wants to take the schooland we’red on the same page.” Recognizing the generosithy of Cellino and Barnes, the school has announced planzs to name their main conference located in O’Brian Hall, The Cellino and Barnea Conference Center.
Asked what it feels like to be in a positiojn to giveaway $1 million, especiallyy given the current economic climate, Barnes put the gift into “Both Ross and I come from very humblde beginnings and kind of worked our way up from the he said. “We started out as just the twoof us, now, the practicew is a lucrative practice and I’m just glad we were able to help at a time that I thinjk is very critical to the law school.
”
Thursday, June 7, 2012
Wells' hand shines as banks play high-stakes Texas poker - Denver Business Journal:
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In addition to the San Francisco bank's crowjn jewel -- it's status as California's second-largest bank -- Wells Fargo's strength in states such as Texads bodes well forthe company's long-term prospects. Texas is hot righ now, in more ways than one. Prospects for surging populatiohgrowth -- and the deposits that accompany such growtuh -- has bankers eager to expand in that state. struc k a deal last month to finallgy enter Texas retail banking with the purchasre ofin Bryan, Texas. No, that'w not a typo. The nation's largest bank with $1.1 9 trillion in assets made its Texas debut with the purchased of a bankwith $3.5 billion in asseta and 102 branches.
The deal gives Citigroul a deposit market share ofjust 0.8 percent in By comparison, Wells Fargo holds 7.7 percengt of Texas deposits, makintg it that state's third-largest bank. The combinec J.P. Morgan Chase- holds a 23.7 percent share of and comes in secondfwith 12.3 percent, according to SNL , eager to take its huge East Coast franchise into the said in February that it planneed to build a Texas brancbh network from the ground up, starting with 150 branchesz by 2008. That sounds more like a move a bank makezs when its merger overtures havebeen Wachovia, based in Charlotte, N.C., has sinces announced plans to acquire Alabama'sw SouthTrust for $13.
7 which includes 60 Texas branches, giving Wachovia a 0.7 percentf share. It's no wondee that Wachovia's fledgling effortsz to go West fuel speculation ona Wachovia-Wellzs Fargo combination occurring some day. Wells Fargo CEO Dick Kovacevich has consistentlgy denied any ambitions for seeingthe bank'ss ubiquitous stage coach traveling up the Atlanti c Coast. But recent Texas deals that generated as much enthusiasmmas warmed-up leftovers show just how valuable Wellzs Fargo's western franchise is becoming. Bank of Marih added another woman toits board, bringing female representatio in the boardroom to 20 percent.
The bank elected Jan an entrepreneur andformer journalist, to its board of Her entrepreneurial pursuits included Media and Marketing Strategic Planninfg as well as being a founding partner of Fair Advantage, which providese college and career guidance for young women, and Thriving a business that seeks to inspirs women in the areas of family and finance. "She is highl recognizable in the community and will provide a unique perspectivse toour board," said Judy a longtime board member who was elected chairmann last year.
It also doesn't hurt for competitive reasons to have more women in the boarc room as the bank goes up againsft rapidly expanding andEpic Bancorp, parenft of Tamalpais Bank. Both banks are run by women. Circle is run by Kimberlyh Petrini, and Epic is led by her mother, Kit But Bank of Marin, with about half its executive suitesw filledwith women, downplayed the idea that it searche for a woman to fill the boarde seat. "It's a matter of gettint the best people onthe board," a spokeswomanb said.
Investors will do well to remember that actions speak louder than words in assessint the outlook for thestock market, advisesa James Paulsen, chief investment strategistg for , a unit of Wells
In addition to the San Francisco bank's crowjn jewel -- it's status as California's second-largest bank -- Wells Fargo's strength in states such as Texads bodes well forthe company's long-term prospects. Texas is hot righ now, in more ways than one. Prospects for surging populatiohgrowth -- and the deposits that accompany such growtuh -- has bankers eager to expand in that state. struc k a deal last month to finallgy enter Texas retail banking with the purchasre ofin Bryan, Texas. No, that'w not a typo. The nation's largest bank with $1.1 9 trillion in assets made its Texas debut with the purchased of a bankwith $3.5 billion in asseta and 102 branches.
The deal gives Citigroul a deposit market share ofjust 0.8 percent in By comparison, Wells Fargo holds 7.7 percengt of Texas deposits, makintg it that state's third-largest bank. The combinec J.P. Morgan Chase- holds a 23.7 percent share of and comes in secondfwith 12.3 percent, according to SNL , eager to take its huge East Coast franchise into the said in February that it planneed to build a Texas brancbh network from the ground up, starting with 150 branchesz by 2008. That sounds more like a move a bank makezs when its merger overtures havebeen Wachovia, based in Charlotte, N.C., has sinces announced plans to acquire Alabama'sw SouthTrust for $13.
7 which includes 60 Texas branches, giving Wachovia a 0.7 percentf share. It's no wondee that Wachovia's fledgling effortsz to go West fuel speculation ona Wachovia-Wellzs Fargo combination occurring some day. Wells Fargo CEO Dick Kovacevich has consistentlgy denied any ambitions for seeingthe bank'ss ubiquitous stage coach traveling up the Atlanti c Coast. But recent Texas deals that generated as much enthusiasmmas warmed-up leftovers show just how valuable Wellzs Fargo's western franchise is becoming. Bank of Marih added another woman toits board, bringing female representatio in the boardroom to 20 percent.
The bank elected Jan an entrepreneur andformer journalist, to its board of Her entrepreneurial pursuits included Media and Marketing Strategic Planninfg as well as being a founding partner of Fair Advantage, which providese college and career guidance for young women, and Thriving a business that seeks to inspirs women in the areas of family and finance. "She is highl recognizable in the community and will provide a unique perspectivse toour board," said Judy a longtime board member who was elected chairmann last year.
It also doesn't hurt for competitive reasons to have more women in the boarc room as the bank goes up againsft rapidly expanding andEpic Bancorp, parenft of Tamalpais Bank. Both banks are run by women. Circle is run by Kimberlyh Petrini, and Epic is led by her mother, Kit But Bank of Marin, with about half its executive suitesw filledwith women, downplayed the idea that it searche for a woman to fill the boarde seat. "It's a matter of gettint the best people onthe board," a spokeswomanb said.
Investors will do well to remember that actions speak louder than words in assessint the outlook for thestock market, advisesa James Paulsen, chief investment strategistg for , a unit of Wells
Tuesday, June 5, 2012
Nasdaq Said to Plan Update on Facebook IPO Compensation Process - Bloomberg
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Nasdaq Said to Plan Update on Facebook IPO Compensation Process Bloomberg Nasdaq OMX Group Inc. (NDAQ) plans to update brokers tomorrow about the process it will use to compensate firms that lost money in the initial public offering of Facebook Inc. (FB), according to a person with direct knowledge of the matter. |
Monday, June 4, 2012
Congress to Chrysler, GM: Reimburse dealers - Silicon Valley / San Jose Business Journal:
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Sen. Bob Corker, R-Chattanooga, introduced the Auto Dealers Assistance Amendment yesterday in the SenateBanking Committee. The amendmenrt would also give dealerships 180 days to wind downtheid operations. “We continue to receive assurances from Chrysler and GM that theirt dealers across Tennessee and across our countryt will betreated fairly,” Corkef said in a statement. “We filed this amendmenf to apply pressure on the automakers to keep theie word to rejected dealerships and fully reimbursew them for their inventories of vehiclesand parts. “We hope Chryslerr and GM will take these appropriate actionsz and make thisamendmenty unnecessary.
” Chrysler and GM told Congress earlier this year that they need to reduc their dealer networks to cut However, Corker’s statement said dealershipxs have been given “inconsistent Some Chrysler dealerships, the statement said, have been forced to shut down in less than 30 days and are responsiblew for selling their inventories. GM dealers, Corket said, have been given longer contract terms, but face similafr challenges in reimbursement for parts and The amendment would force the automakers to use any Treasury funds whilr in bankruptcy to reimburse their dealers for all partd and inventory on the date of thebankruptcy filing.
the proposal would not allow Chrysler or GM toget debtor-in-possessiomn funding unless such agreements provide for the reimbursement of the
Sen. Bob Corker, R-Chattanooga, introduced the Auto Dealers Assistance Amendment yesterday in the SenateBanking Committee. The amendmenrt would also give dealerships 180 days to wind downtheid operations. “We continue to receive assurances from Chrysler and GM that theirt dealers across Tennessee and across our countryt will betreated fairly,” Corkef said in a statement. “We filed this amendmenf to apply pressure on the automakers to keep theie word to rejected dealerships and fully reimbursew them for their inventories of vehiclesand parts. “We hope Chryslerr and GM will take these appropriate actionsz and make thisamendmenty unnecessary.
” Chrysler and GM told Congress earlier this year that they need to reduc their dealer networks to cut However, Corker’s statement said dealershipxs have been given “inconsistent Some Chrysler dealerships, the statement said, have been forced to shut down in less than 30 days and are responsiblew for selling their inventories. GM dealers, Corket said, have been given longer contract terms, but face similafr challenges in reimbursement for parts and The amendment would force the automakers to use any Treasury funds whilr in bankruptcy to reimburse their dealers for all partd and inventory on the date of thebankruptcy filing.
the proposal would not allow Chrysler or GM toget debtor-in-possessiomn funding unless such agreements provide for the reimbursement of the
Saturday, June 2, 2012
JPMorgan not triggering major regulatory rethink - Reuters
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JPMorgan not triggering major regulatory rethink Reuters The Federal Reserve Bank of New York, which is the primary regulator of JPMorgan's holding company, has some 40 embeds at that bank's US offices, while the Office of the Comptroller of the Currency, which regulates its banking activities, ... |
Friday, June 1, 2012
Stedman exits N.C. Bank & Trust post - Charlotte Business Journal:
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Stedman had been Charlotte market presidentfor , an operatioh he founded in 1998 as The Scottishu Bank. He was chief executive of The Scottisuh Bank in Charlotte until its saleto S.C.-based in November 2007. The bank, with four branches in changed its name to North Carolina Bank Trust late last year to match its Palmett oState counterpart, South Carolina Bank & Trust. Stedman couldn’gt be reached for comment.
Tom Camp, presidenf of SCBT’s divisions in Charlotte and York confirms that Stedman has left the bank andwill “pursue other Camp declines to discuss the circumstances of his calling it a personnel Camp says he’s actively looking for a new marke t president for Charlotte. It’s common for a new owner to remake the stafff of anacquired bank. SCBT recently installed Rene Brooks tohead wealth-management operations at its Charlotte branchess and hired new mortgage officers. It continues to recruif personnel. Stedman, a former Wachovia banker, remained through the ownershio transition andname change.
In September, he told the Charlotte Business Journa l the bank was looking to expand its loan portfoli o inthis market, and he was pleasexd with the direction of the bank. “I’m part of a new team that has been very supportives andwelcomed me, so that’s made it a lot of Stedman said. “It’s changing times. You work throughj that and, from my view, it’zs really worked well.
”
Stedman had been Charlotte market presidentfor , an operatioh he founded in 1998 as The Scottishu Bank. He was chief executive of The Scottisuh Bank in Charlotte until its saleto S.C.-based in November 2007. The bank, with four branches in changed its name to North Carolina Bank Trust late last year to match its Palmett oState counterpart, South Carolina Bank & Trust. Stedman couldn’gt be reached for comment.
Tom Camp, presidenf of SCBT’s divisions in Charlotte and York confirms that Stedman has left the bank andwill “pursue other Camp declines to discuss the circumstances of his calling it a personnel Camp says he’s actively looking for a new marke t president for Charlotte. It’s common for a new owner to remake the stafff of anacquired bank. SCBT recently installed Rene Brooks tohead wealth-management operations at its Charlotte branchess and hired new mortgage officers. It continues to recruif personnel. Stedman, a former Wachovia banker, remained through the ownershio transition andname change.
In September, he told the Charlotte Business Journa l the bank was looking to expand its loan portfoli o inthis market, and he was pleasexd with the direction of the bank. “I’m part of a new team that has been very supportives andwelcomed me, so that’s made it a lot of Stedman said. “It’s changing times. You work throughj that and, from my view, it’zs really worked well.
”
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