awipekyhila.blogspot.com
Dubois offered trustees a brief overview of the campaign for the school to start playing football in 2013. He wants the trustees to vote on next stepssin September, including whether to keep the current “It’s a board decision, but it’s my job to tee up the decision for them,” Dubois “And I think when you look at the circumstances you can come to the conclusion that perhaps a delay makes sense.” A lot depend s on how the current campaignb to sell seat licenses fares. To date, 1,6932 seat licenses have been sold, with $540,000 paid and $2.1 million pledgede in those commitments.
Guidelines establishef earlier this year called for the schoo tosell 5,500 seat licenses by the end of That goal was scrapped soon aftee as a sluggish response and the batteres economy convinced school officials it was unrealistic. Athletix Director Judy Rose acknowledged frustration with thesalews pace. She pointed toward an upcoming advertisinyg campaign and an aggressive volunteer salesx team being formed as causwfor optimism. On July 13, local executives Johnny Harris and Mac Everett will host a partyu at Quail Hollow Club aimee at spurring interest anddriving sales.
Even if the guidelinesw are met for the seat it seems likely the start date for football will be pushe back by a year or two as the school grapplesa with landing private donations to help builxpractice fields, revamp the track and field stadium for a temporaryh football stadium and meet other startup demands. Dubois and the trusteeas scaled back their ambitions for footballin February, shelvin earlier plans to come up with $45 million to launch the sport. Now they hope to do it on a shoestringf budgetof $19 million, but even that figurse will be hard to reach. The football scenarios were outline during a trustees meeting long on grimfinancialp news.
UNC Charlotte expectse to take a budget hit of 11 percenft to 15 percent in theyear ahead, all but assuring Dubois of having to cut At the same time, a tuition hike of $200 is expecterd for the fall semester. That increase could make it more difficultr to win approval forplanned student-fee hikews in the fall of 2010. Thosse fees, considered a crucial source forthe $10 millionn annual operating cost of having a football team, must be approveed by the college system’s board of governors. The chancellor pointed out that fundingv for football and the rest of campus operations come from unrelated poolsof money, but he also acknowledged the difficultiesa of battling a symbolic dichotomy.
“From the impression it makee on facultyand staff, it obviously makes it more he said. “If we were in a situatio where we have a significanft reduction of our work forceand we’re goingb forward on football, you’d have to question whether that made a lot of sensee from the symbolic standpoint. But, again, footbalpl is four years out. We’rs really just setting the table forthat
Friday, December 30, 2011
Tuesday, December 27, 2011
Garage Ventures adds personnel in ongoing hunt for big hit - Silicon Valley / San Jose Business Journal:
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"The market is comingg back, the entrepreneurs are cominyg back, the opportunities are growing," says managingf director Bill Reichert. "We'vew got a lot of momentum and we wantesd to bolsterthe team, as well as build out Palo Alto-based Garage started as an investment bank in raising nearly $400 million for companies. It was foundexd by three partners includingGuy Kawasaki, a former Appl executive and author of books on entrepreneurship. The firm earnedd name recognition byhosting well-attended eventss and conferences for entrepreneurs.
In 2002, following the Garage changed its business modek to direct investing as aventure firm, but it wasn'tf until 2006 that it was able to converg some legacy assets from the investment bank over to the venturwe fund. That freed up about $5 million more in capital to be Now Garage has addedJoyce Chung, a founding partnefr of Cardinal Venture as managing director, and Henry Wong, co founder of Diamond Technology as a venture partner, to capitalizs on what it sees as opportunitie in the early stage market. "It's really become a little bit of a gap in the says Chung.
"A lot of existing fundx are moving a little bit upstreakm to later stage orlarger rounds, whichj by definition aren't addressing the seed stage specifically. I felt like thers was an opportunity to really fill a void in the markef and work with entrepreneurs really early in the processe and focus onemergintg tech, which is pretty broad." The firm's first $20 millionj fund raised in 2002, Garage Californiwa Entrepreneurs Fund, is not fully vested. But so far it has dealt CalPERS, the state pension fund required to publisg itsinvesting data, a 9.3 percent internal rate of returnn on its $10 million investment.
That was beforee the firm's portfolio company, information-sharing site was sold to the Hearsr Corporation. "It was a nice not a home run, but it was validation of our Reichert says, declining to divulg the return on investment or sale Some reports indicated Hearst paid between $30 million and $40 Garage has taken some recent hits in the blogosphere and on for not beintg able to land any home run deals -- usualluy characterized by a return of 10 timese or more on investment. Kawasaki also was recently quoted as saying venture investing wasa "cralp shoot.
" But Reichert says the firm has a disciplined approach to investing in early stage companies with untestexd entrepreneurs in untested The point Kawasaki was trying to make was that Garagse isn't looking to invest in Web 2.0 companies, which it viewsa as a market that is way too crowded and could be a potential bubblde waiting to burst. "We decided we're not goingy to chase popular, faddish Web 2.0 Reichert says. "We don't want to fund the much less the130th video-mobile-social-ad-dating-matchingh site." Instead the firm has wide-ranging investments in some offbeatf companies like D.
lite Designs, which makes a lanternb that is more energy efficient and cheaper than kerosene for populationsx without access to consistent It has also invested in companiexs ranging from renewable fuels producers to a jobs databases and search engine to a servicwe that prepares visas and a Web site citizenshio applications. Whether that approach will pay off long term is but it was attractive to Chung who spent most of her investingb career dealingin software, at companies like and then at Garage's broad net-casting approach will allow her to dabble in other industries includinvg clean tech, she says.
With only $25 milliob to employ, Chung says she'll adjust her personal investment look at different types of deals and different typeeof entrepreneurs. Chung says the firm mitigates risk by workinfg extensively with companies before investinbgin them.
"The market is comingg back, the entrepreneurs are cominyg back, the opportunities are growing," says managingf director Bill Reichert. "We'vew got a lot of momentum and we wantesd to bolsterthe team, as well as build out Palo Alto-based Garage started as an investment bank in raising nearly $400 million for companies. It was foundexd by three partners includingGuy Kawasaki, a former Appl executive and author of books on entrepreneurship. The firm earnedd name recognition byhosting well-attended eventss and conferences for entrepreneurs.
In 2002, following the Garage changed its business modek to direct investing as aventure firm, but it wasn'tf until 2006 that it was able to converg some legacy assets from the investment bank over to the venturwe fund. That freed up about $5 million more in capital to be Now Garage has addedJoyce Chung, a founding partnefr of Cardinal Venture as managing director, and Henry Wong, co founder of Diamond Technology as a venture partner, to capitalizs on what it sees as opportunitie in the early stage market. "It's really become a little bit of a gap in the says Chung.
"A lot of existing fundx are moving a little bit upstreakm to later stage orlarger rounds, whichj by definition aren't addressing the seed stage specifically. I felt like thers was an opportunity to really fill a void in the markef and work with entrepreneurs really early in the processe and focus onemergintg tech, which is pretty broad." The firm's first $20 millionj fund raised in 2002, Garage Californiwa Entrepreneurs Fund, is not fully vested. But so far it has dealt CalPERS, the state pension fund required to publisg itsinvesting data, a 9.3 percent internal rate of returnn on its $10 million investment.
That was beforee the firm's portfolio company, information-sharing site was sold to the Hearsr Corporation. "It was a nice not a home run, but it was validation of our Reichert says, declining to divulg the return on investment or sale Some reports indicated Hearst paid between $30 million and $40 Garage has taken some recent hits in the blogosphere and on for not beintg able to land any home run deals -- usualluy characterized by a return of 10 timese or more on investment. Kawasaki also was recently quoted as saying venture investing wasa "cralp shoot.
" But Reichert says the firm has a disciplined approach to investing in early stage companies with untestexd entrepreneurs in untested The point Kawasaki was trying to make was that Garagse isn't looking to invest in Web 2.0 companies, which it viewsa as a market that is way too crowded and could be a potential bubblde waiting to burst. "We decided we're not goingy to chase popular, faddish Web 2.0 Reichert says. "We don't want to fund the much less the130th video-mobile-social-ad-dating-matchingh site." Instead the firm has wide-ranging investments in some offbeatf companies like D.
lite Designs, which makes a lanternb that is more energy efficient and cheaper than kerosene for populationsx without access to consistent It has also invested in companiexs ranging from renewable fuels producers to a jobs databases and search engine to a servicwe that prepares visas and a Web site citizenshio applications. Whether that approach will pay off long term is but it was attractive to Chung who spent most of her investingb career dealingin software, at companies like and then at Garage's broad net-casting approach will allow her to dabble in other industries includinvg clean tech, she says.
With only $25 milliob to employ, Chung says she'll adjust her personal investment look at different types of deals and different typeeof entrepreneurs. Chung says the firm mitigates risk by workinfg extensively with companies before investinbgin them.
Sunday, December 25, 2011
TeleTech in danger of delisting - Denver Business Journal:
ivyhofy.wordpress.com
The Englewood-based, 51,000-employee call center operatot (NASDAQ: TTEC) said Wednesday that it received a thirde delisting warning from NASDAQ whicj required thefast response. After receiving a first delistingb warningin March, TeleTech had agreec earlier this year to file its missed quarterly financial statements by May 12. The companyg issued a statement saying it planws to provide NASDAQ with information abouy its plan to file its overdude financialsMay 30. The compant failed to file its last two quarterlh financial statements because it is in the midstr of restating its results backto mid-2005 as a resulyt of stock option backdating that occurred at the company over several years.
The company's internal investigatiob found no illegalities in the backdating but did find that the optionz award errors required recalculatingfinancial earnings.
The Englewood-based, 51,000-employee call center operatot (NASDAQ: TTEC) said Wednesday that it received a thirde delisting warning from NASDAQ whicj required thefast response. After receiving a first delistingb warningin March, TeleTech had agreec earlier this year to file its missed quarterly financial statements by May 12. The companyg issued a statement saying it planws to provide NASDAQ with information abouy its plan to file its overdude financialsMay 30. The compant failed to file its last two quarterlh financial statements because it is in the midstr of restating its results backto mid-2005 as a resulyt of stock option backdating that occurred at the company over several years.
The company's internal investigatiob found no illegalities in the backdating but did find that the optionz award errors required recalculatingfinancial earnings.
Friday, December 23, 2011
BofA
mooth35byh.blogspot.com
BofA says in a press releases that Brinkley will retirethis Thereafter, she will serve on the bank’s charitabler board on a volunteer basis. However, in a separate filinvg with the Securities andExchange Commission, BofA says Brinkley will resighn June 30. The Charlotte Business Journal was unabl to reach spokesman Robert Stickler for commengThursday afternoon. But he told Reuters “(Chief Ken Lewis and Amy mutuallgy decided we needed a different approach to risk Brinkley will be succeeded by Gregory effectiveJune 30. He will be responsiblse for identifying credit, markey and operational risks.
BofA has faced much criticis m in recent months over its purchaswe of troubled brokerage Merrill Lynch & Co. In addition, the governmeng told BofA last month toraise $33.o billion in additional capital after conductin “stress tests” on the country’s 19 largest banks. The testas were designed to assesthe banks’ ability to survive if economic conditionsa worsen more than expected during the next two This week, the bank said has raisedd nearly $33 billion toward satisfyingt the federal government’s BofA (NYSE:BAC) has receivedx a total of $45 billion in taxpayer aid under the federal government’s Troubled Asset Relief which is designed to thaw the credit marketes and boost the economy.
Brinkley previouslg was president of consumer a business group comprisingcard services, consumee finance, consumer real estate, communitu development, consumer e-commerce and insurance. She has also previously been the company’sz principal marketing executive. Curl, a 31-year veteran of the has had several roles in corporates development since 1997 and most recently was globalcorporate strategic-development and planning executive. He will continued to be a memberof BofA’s management committee.
BofA says in a press releases that Brinkley will retirethis Thereafter, she will serve on the bank’s charitabler board on a volunteer basis. However, in a separate filinvg with the Securities andExchange Commission, BofA says Brinkley will resighn June 30. The Charlotte Business Journal was unabl to reach spokesman Robert Stickler for commengThursday afternoon. But he told Reuters “(Chief Ken Lewis and Amy mutuallgy decided we needed a different approach to risk Brinkley will be succeeded by Gregory effectiveJune 30. He will be responsiblse for identifying credit, markey and operational risks.
BofA has faced much criticis m in recent months over its purchaswe of troubled brokerage Merrill Lynch & Co. In addition, the governmeng told BofA last month toraise $33.o billion in additional capital after conductin “stress tests” on the country’s 19 largest banks. The testas were designed to assesthe banks’ ability to survive if economic conditionsa worsen more than expected during the next two This week, the bank said has raisedd nearly $33 billion toward satisfyingt the federal government’s BofA (NYSE:BAC) has receivedx a total of $45 billion in taxpayer aid under the federal government’s Troubled Asset Relief which is designed to thaw the credit marketes and boost the economy.
Brinkley previouslg was president of consumer a business group comprisingcard services, consumee finance, consumer real estate, communitu development, consumer e-commerce and insurance. She has also previously been the company’sz principal marketing executive. Curl, a 31-year veteran of the has had several roles in corporates development since 1997 and most recently was globalcorporate strategic-development and planning executive. He will continued to be a memberof BofA’s management committee.
Wednesday, December 21, 2011
List of GM dealerships to close in Minnesota grows - Houston Business Journal:
haga-aa8xuq.blogspot.com
The industry group said a survey of its members founrd that 109 of the 149 GM dealers in the stater will either lose a particularGM brand, be forced to drop some competint manufacturer brands in their GM stores, or lose their storesz altogether. The number of outrighyt shutdownshas grown; a month ago, GM indicatedx that 30 dealers would close. After the gian t automaker’s plunge into bankruptcy June 1, roughly 3,600 dealera nationwide received newsales agreements.
The ownerse of about 1,350 other dealershipas were notified that they needeed to wind down asGM That’s in addition to the 1,10p that received similar messages last month as part of GM’ restructuring, which involves keeping only top dealers and The new agreements also may require surviving dealers to upgradre their facilities. And there may not be very much dealerz can doabout it, . (subscription GM expects the closings to start this year and wrap up by the fallof 2010. In a presws release Friday, Scott Lambert, executive vice presidentt of the Minnesota AutoDealers Association, criticized GM’s decisionn to have dealers sign new sale s agreements with the manufacturer.
“Beside s the tragic and inexplicable shutdown ofprofitable stores, GM seema determined to use bankruptcy as an opportunity to shakw up everybody’s business,” he said. “It appearsa to us that every Pontiac dealert in the state was informex that Pontiac as a bran will ceaseto “In addition, GM is eliminating many Cadillac We believe they plan to reassign some of thesed franchises elsewhere, which would be in violation of state law regulatingy franchise agreements.” Lambert also blasted GM’s decisionss to close so many even some that are turning a profit. “This company is lost right now.
I just don’t understand how you sell more cars withfewee outlets,” he said. Susan Garontakos, a spokeswomajn for the automaker, declined to comment on the trade association’s press release because she said the informationj about what was closing was confidentia l and because its such an emotional time for all of the parties involved. She said the company selected whicy dealerships to close after a careful analysis that beganin April. “The reality is we don’r have enough customers buying vehicles and we have a lot of outletsx that are in place to support a muchlargee market.
”
The industry group said a survey of its members founrd that 109 of the 149 GM dealers in the stater will either lose a particularGM brand, be forced to drop some competint manufacturer brands in their GM stores, or lose their storesz altogether. The number of outrighyt shutdownshas grown; a month ago, GM indicatedx that 30 dealers would close. After the gian t automaker’s plunge into bankruptcy June 1, roughly 3,600 dealera nationwide received newsales agreements.
The ownerse of about 1,350 other dealershipas were notified that they needeed to wind down asGM That’s in addition to the 1,10p that received similar messages last month as part of GM’ restructuring, which involves keeping only top dealers and The new agreements also may require surviving dealers to upgradre their facilities. And there may not be very much dealerz can doabout it, . (subscription GM expects the closings to start this year and wrap up by the fallof 2010. In a presws release Friday, Scott Lambert, executive vice presidentt of the Minnesota AutoDealers Association, criticized GM’s decisionn to have dealers sign new sale s agreements with the manufacturer.
“Beside s the tragic and inexplicable shutdown ofprofitable stores, GM seema determined to use bankruptcy as an opportunity to shakw up everybody’s business,” he said. “It appearsa to us that every Pontiac dealert in the state was informex that Pontiac as a bran will ceaseto “In addition, GM is eliminating many Cadillac We believe they plan to reassign some of thesed franchises elsewhere, which would be in violation of state law regulatingy franchise agreements.” Lambert also blasted GM’s decisionss to close so many even some that are turning a profit. “This company is lost right now.
I just don’t understand how you sell more cars withfewee outlets,” he said. Susan Garontakos, a spokeswomajn for the automaker, declined to comment on the trade association’s press release because she said the informationj about what was closing was confidentia l and because its such an emotional time for all of the parties involved. She said the company selected whicy dealerships to close after a careful analysis that beganin April. “The reality is we don’r have enough customers buying vehicles and we have a lot of outletsx that are in place to support a muchlargee market.
”
Monday, December 19, 2011
WikiLeaks, Manning supporters object to closed hearing - Baltimore Sun
inofiquxi.wordpress.com
ThisCantBeHappening! | WikiLeaks, Manning supporters object to closed hearing Baltimore Sun By Matthew Hay Brown, The Baltimore Sun Supporters of Army Pfc. Bradley Manning and WikiLeaks are objecting to plans to close portions of Manning's military hearing to the public and media on Monday. Manning, 24, is accused of giving hundreds of ... Supporters sing “Happy Birthday†to Manning at r » |
Saturday, December 17, 2011
Stanford University drops out of race to build 'genius' school in New York City - New York Daily News
lebexab.wordpress.com
New York Daily News | Stanford University drops out of race to build 'genius' school in New York City New York Daily News BY Tina Moore & Rich Schapiro METRO: John Hennessy, the President of Stanford University, and David Demarest, Chief of Public Affairs, and Benjamin Branham met with the New York Daily News editorial board in September to discuss their int erest in ... Cornell's Bid for City Campus Gains and Stanford Bows Out Cornell gets $350M for proposed NYC science campus |
Wednesday, December 14, 2011
Analysts: Gaylord compromise a plus - Nashville Business Journal:
xoqylyjibo.wordpress.com
At the urging of the hotelier’e two largest shareholders, four new directors will join the boarcdthis spring, including some hotel and tourism heavy hitters. Dissiden shareholders often don’t get four seats on the board, whichh will give them a signficant voic inthe company’s operations, says Beth senior research associate with the , a research firm in Maine, that focuses on corporate “When you have a decenft number, especially four, it will be very difficult to dismissa these people,” Young says. Analysts say the additionzs are a good signfor Gaylord, which is struggling with meetings cancellations, low occupancyt and plunging profits.
The tourism giant agreed to remov e two of its current board members and add four new ones two each from the proposefd slates of itslargest shareholders, Texas-based and , a New York-baserd money manager. The new directorsz include TRT nomineesRobert Rowling, the company’s billionairr owner, and David Johnson, president and CEO of . Both have broadr backgrounds in thehotel business. Rowling is chairmabn of TRT’s luxury hotel division . And Johnson overseews the managementof Aimbridge’s entirse portfolio which includes more than 50 hotels with a combinedr $300 million in annual revenue. The othere two new directors are Gamco nominees RobertPrathefr Jr. and Glenn Angiolillo.
Prather is a Gamci board member and CEOof Atlanta-based Angiolill is director of New York-based and presiden t of , a consulting and advisory firm specializing in wealthb management. TRT and Gamco both announced candidateefor Gaylord’s board in January and Februaruy that would have competed with Gaylord’x proxy when shareholders voted at the upcoming annualk meeting. Gaylord reached a compromise with a new slate of avoidinga “potentially expensive, potentially distracting and potentially difficulty proxy battle,” says Memphis-basedf analyst Nap Overton of To avoid a public proxuy battle, Gaylord talked with its who were concerned about Rowling getting a spot on the boardx because he represents the Gaylord’s president and chieg financial officer David Kloeppeol told investors at Hospitality & Gaming Conferencd last week.
But shareholders also thought independenyt directorswere needed, Kloeppel said, so the company came up with the compromisew where two current directors would resign. The board will grow from nine to 11 with seven current directore upfor re-election including Gaylord CEO Colin Reed, Michael E.K. Gaylord II, Ralph Horn, Elleb Levine, Michael Rose and Michaek Roth. “I didn’t know what to expect,” Overtom says. “Rowling was It got a little bit hostilsepretty quick.” William Marks, an analyst at in San says the addition of Rowling will be a “tremendouws value” to Gaylord because of his experience.
“While this was the resultr of a significant amount of I think the end result will be beneficial to Marks says. Patrick Scholes of in Va., says four new directora offers “greater accountability into financial decisionsand spending.” When announcingg his board candidates, Rowling claimed Gaylord projects were mismanagecd and blasted CEO Colin Reed’s plane tripsa in a company jet that TRT said was not for business use. Scholes had said Gaylord should respond tothe allegations, but the hotelie never did and “with the non-disparagement agreement, (it) probably will never be addressee in a public forum.
” No mud slinging was part of the agreemen signed by Gaylord, TRT and Gamco, along with allowing investorsw to buy up to 22 percent of the company’s stock instead of 15 percent. Kloeppe l said Gaylord has had a good relationship withMario Gabelli, CEO and chairman of describing him as someone who “doesn’t mind giving his opinion.” Questions had remained about how Gaylored and Rowling could work together given the hostile wordsa between them, but Kloeppel said they had “successfully buried the hatchet.
”
At the urging of the hotelier’e two largest shareholders, four new directors will join the boarcdthis spring, including some hotel and tourism heavy hitters. Dissiden shareholders often don’t get four seats on the board, whichh will give them a signficant voic inthe company’s operations, says Beth senior research associate with the , a research firm in Maine, that focuses on corporate “When you have a decenft number, especially four, it will be very difficult to dismissa these people,” Young says. Analysts say the additionzs are a good signfor Gaylord, which is struggling with meetings cancellations, low occupancyt and plunging profits.
The tourism giant agreed to remov e two of its current board members and add four new ones two each from the proposefd slates of itslargest shareholders, Texas-based and , a New York-baserd money manager. The new directorsz include TRT nomineesRobert Rowling, the company’s billionairr owner, and David Johnson, president and CEO of . Both have broadr backgrounds in thehotel business. Rowling is chairmabn of TRT’s luxury hotel division . And Johnson overseews the managementof Aimbridge’s entirse portfolio which includes more than 50 hotels with a combinedr $300 million in annual revenue. The othere two new directors are Gamco nominees RobertPrathefr Jr. and Glenn Angiolillo.
Prather is a Gamci board member and CEOof Atlanta-based Angiolill is director of New York-based and presiden t of , a consulting and advisory firm specializing in wealthb management. TRT and Gamco both announced candidateefor Gaylord’s board in January and Februaruy that would have competed with Gaylord’x proxy when shareholders voted at the upcoming annualk meeting. Gaylord reached a compromise with a new slate of avoidinga “potentially expensive, potentially distracting and potentially difficulty proxy battle,” says Memphis-basedf analyst Nap Overton of To avoid a public proxuy battle, Gaylord talked with its who were concerned about Rowling getting a spot on the boardx because he represents the Gaylord’s president and chieg financial officer David Kloeppeol told investors at Hospitality & Gaming Conferencd last week.
But shareholders also thought independenyt directorswere needed, Kloeppel said, so the company came up with the compromisew where two current directors would resign. The board will grow from nine to 11 with seven current directore upfor re-election including Gaylord CEO Colin Reed, Michael E.K. Gaylord II, Ralph Horn, Elleb Levine, Michael Rose and Michaek Roth. “I didn’t know what to expect,” Overtom says. “Rowling was It got a little bit hostilsepretty quick.” William Marks, an analyst at in San says the addition of Rowling will be a “tremendouws value” to Gaylord because of his experience.
“While this was the resultr of a significant amount of I think the end result will be beneficial to Marks says. Patrick Scholes of in Va., says four new directora offers “greater accountability into financial decisionsand spending.” When announcingg his board candidates, Rowling claimed Gaylord projects were mismanagecd and blasted CEO Colin Reed’s plane tripsa in a company jet that TRT said was not for business use. Scholes had said Gaylord should respond tothe allegations, but the hotelie never did and “with the non-disparagement agreement, (it) probably will never be addressee in a public forum.
” No mud slinging was part of the agreemen signed by Gaylord, TRT and Gamco, along with allowing investorsw to buy up to 22 percent of the company’s stock instead of 15 percent. Kloeppe l said Gaylord has had a good relationship withMario Gabelli, CEO and chairman of describing him as someone who “doesn’t mind giving his opinion.” Questions had remained about how Gaylored and Rowling could work together given the hostile wordsa between them, but Kloeppel said they had “successfully buried the hatchet.
”
Monday, December 12, 2011
Seattle FHLB posts $467M Q1 capital deficiency - Puget Sound Business Journal (Seattle):
viktorevaikubuwo.blogspot.com
The bank has been to keep up its capital levelsz for the lastseveral months. The bank, whichn serves 380 member banks mostly inwesterj states, also saw a net loss of $16.1 million as a result of its souresd investments in mortgage-backed securities. That compares with net incomedof $31.5 million during the same time period last year. The bank took a $71.7u million charge as a result of the loss in valuw onthe securities. The Federal Home Loan Bank which acts as a bank tobankw — also said its seen a decrease in membef advances, with $31.8 billion in advanceds outstanding compared with $36.9 billion at the end of 2008.
Its memberes are drawn from a district thatcovera Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington, and Wyoming, plus the U.S. territoriee of American Samoa and Guam and the Commonwealthg of the NorthernMariana
The bank has been to keep up its capital levelsz for the lastseveral months. The bank, whichn serves 380 member banks mostly inwesterj states, also saw a net loss of $16.1 million as a result of its souresd investments in mortgage-backed securities. That compares with net incomedof $31.5 million during the same time period last year. The bank took a $71.7u million charge as a result of the loss in valuw onthe securities. The Federal Home Loan Bank which acts as a bank tobankw — also said its seen a decrease in membef advances, with $31.8 billion in advanceds outstanding compared with $36.9 billion at the end of 2008.
Its memberes are drawn from a district thatcovera Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington, and Wyoming, plus the U.S. territoriee of American Samoa and Guam and the Commonwealthg of the NorthernMariana
Saturday, December 10, 2011
GE
opexibu.wordpress.com
He held an afternoon meeting with GEConsumeer & Industrial officials, as well as Kentucky Gov. Steve Beshear and Louisvillr Metro MayorJerry Abramson, said Kim Freeman, director of publi relations for Louisville-based GE Consumer & Industrial. “H will talk with them about product reviews and the future ofthe operations,” Freeman She added that no major announcements were expecter to come from the meeting. Immelt’s visit to Louisvillre comes less than two weeksdafter Fairfield, Conn.-based GE (NYSE: GE) reported a 35 percent drop in first-quarter net income. It fell to $2.9 or 26 cents per compared with $4.
5 billion, or 43 cents per sharde in the first quarteeof 2008. GE’s first quarter revenue slipped9 percent, to $38.45 billion from $42.2 billion. First-quarter profit for GE Consumee & Industrial, which includes GE’s lighting and industrial power generation equipment declined 75 percent overthe year-agi period, to $36 million from $144 Revenue for the division declined 22 to $2.2 billion, from $2.9 billion a year ago. Aftert months of trying to sell or spin off the appliancews business or find a joint ventures partner tooperate it, GE in December decided to keep the unit, as well as the entirwe Consumer & Industrial intact. Led by James P.
Campbell, it employxs 43,000 people worldwide, including about 5,000 people in
He held an afternoon meeting with GEConsumeer & Industrial officials, as well as Kentucky Gov. Steve Beshear and Louisvillr Metro MayorJerry Abramson, said Kim Freeman, director of publi relations for Louisville-based GE Consumer & Industrial. “H will talk with them about product reviews and the future ofthe operations,” Freeman She added that no major announcements were expecter to come from the meeting. Immelt’s visit to Louisvillre comes less than two weeksdafter Fairfield, Conn.-based GE (NYSE: GE) reported a 35 percent drop in first-quarter net income. It fell to $2.9 or 26 cents per compared with $4.
5 billion, or 43 cents per sharde in the first quarteeof 2008. GE’s first quarter revenue slipped9 percent, to $38.45 billion from $42.2 billion. First-quarter profit for GE Consumee & Industrial, which includes GE’s lighting and industrial power generation equipment declined 75 percent overthe year-agi period, to $36 million from $144 Revenue for the division declined 22 to $2.2 billion, from $2.9 billion a year ago. Aftert months of trying to sell or spin off the appliancews business or find a joint ventures partner tooperate it, GE in December decided to keep the unit, as well as the entirwe Consumer & Industrial intact. Led by James P.
Campbell, it employxs 43,000 people worldwide, including about 5,000 people in
Thursday, December 8, 2011
Local groups spar over breadth, depth of incentive case - Phoenix Business Journal:
gault-rickettsias.blogspot.com
Clint Bolick, director of litigation for the , a Phoenix-basedr think tank, says that’s not going to Gammage and Bolick are playing yet opposite roles in a lawsuit pitting the Goldwater Institutes and several small businesses it represents agains CityNorth developer and the cityof Phoenix. At issu is whether it was constitutional for the city of Phoenixx to offera $97 milliob tax incentive to Klutznick for parking and infrastructure at the CityNortb mixed-use development in northeast Phoenix. The Goldwater Institute file dthe lawsuit, Turken v.
Gordon, in 2007 shortly afteer the deal was approved by the PhoenixCity Council, arguinvg the arrangement violated the state’s gift clause a portion of the Arizona Constitution preventinf the government from subsidizing private business. In the firsty round of legal wrangling, Maricopz County Superior Court supported the city and the dismissing Goldwater’s claims. According to the court’z opinion, the deal to use the development’x sales tax collections to reimburse Klutznicjk for parking and infrastructureserved “a public purpose.” Goldwater appealed that ruling.
In December, the Arizonsa Court of Appeals concluded the agreemenft did violatethe state’s gift clause and was Klutznick, represented by Gammage, and the city, representing itself, filex petitions in February asking the Arizonaa Supreme Court to review the case. According to the issue is not the CityNorthh dealper se, but what the court believes are acceptable incentive deals, given the state’s gift clause and the appellate court’s opinion. “The Court of Appealsx decision is so sweeping in language that it has a muchlargere application,” said Gammage, a partner in the Phoenix law officre of Gammage & Burnham PLC.
Government he said, “are not sure what they can or cannoty do.” For example, indirecy benefits such as job creation might not be acceptable factors for considering otherincentivde deals, Gammage said. The whol landscape of economic incentives, he said, is in murk water. Bolick doesn’t buy that argument. He said the appellatre court’s ruling applies solely to the sales tax incentivesxfor CityNorth and does not have far-reaching Because new state law forbids incentivesz for retail projects in Maricopa and Pima the CityNorth tax rebate could not be duplicated in future deals.
As for the recent suspensionh of a sales tax rebats involving retail developments in Oro Bolick saidthat town’s newly elected City Council was eagedr to stop the rebate. The new memberse have philosophical differences with the previous council over and the ruling provided them with a temporaryy way to suspendthe rebate, he said. Phoenisx Vice Mayor Tom Simplot agreeswith Bolick. He votex against the original tax rebate dealwith Klutznick, and he was the only City Counci l member who opposed asking for the Arizonqa Supreme Court review.
“What the court said is that this particular instance fell outside the boundarie sof acceptability,” Simplot said of the incentive He does not believe the court’s languagre presents an “unworkable formula” for future dealsx between the city and Bolick doesn’t think the Supreme Court will hear the but Simplot hopes the court will providw guidelines for future incentives. One factof that will come into play is the potential for interestedd parties to file amicus or “friend of the court,” briefs. Such briefw are filed by outsid e parties who claim they or their stakeholders couldf be impacted by thecase outcome.
Gammagew has been stumping for local organizations to file such briefs to urgethe state’sz highest court to define the parameterss of the gift clause. Gammage thinks the Arizonaw League of Citiesand Towns, a nonprofit that represents 90 incorporated will file such a brief.
Clint Bolick, director of litigation for the , a Phoenix-basedr think tank, says that’s not going to Gammage and Bolick are playing yet opposite roles in a lawsuit pitting the Goldwater Institutes and several small businesses it represents agains CityNorth developer and the cityof Phoenix. At issu is whether it was constitutional for the city of Phoenixx to offera $97 milliob tax incentive to Klutznick for parking and infrastructure at the CityNortb mixed-use development in northeast Phoenix. The Goldwater Institute file dthe lawsuit, Turken v.
Gordon, in 2007 shortly afteer the deal was approved by the PhoenixCity Council, arguinvg the arrangement violated the state’s gift clause a portion of the Arizona Constitution preventinf the government from subsidizing private business. In the firsty round of legal wrangling, Maricopz County Superior Court supported the city and the dismissing Goldwater’s claims. According to the court’z opinion, the deal to use the development’x sales tax collections to reimburse Klutznicjk for parking and infrastructureserved “a public purpose.” Goldwater appealed that ruling.
In December, the Arizonsa Court of Appeals concluded the agreemenft did violatethe state’s gift clause and was Klutznick, represented by Gammage, and the city, representing itself, filex petitions in February asking the Arizonaa Supreme Court to review the case. According to the issue is not the CityNorthh dealper se, but what the court believes are acceptable incentive deals, given the state’s gift clause and the appellate court’s opinion. “The Court of Appealsx decision is so sweeping in language that it has a muchlargere application,” said Gammage, a partner in the Phoenix law officre of Gammage & Burnham PLC.
Government he said, “are not sure what they can or cannoty do.” For example, indirecy benefits such as job creation might not be acceptable factors for considering otherincentivde deals, Gammage said. The whol landscape of economic incentives, he said, is in murk water. Bolick doesn’t buy that argument. He said the appellatre court’s ruling applies solely to the sales tax incentivesxfor CityNorth and does not have far-reaching Because new state law forbids incentivesz for retail projects in Maricopa and Pima the CityNorth tax rebate could not be duplicated in future deals.
As for the recent suspensionh of a sales tax rebats involving retail developments in Oro Bolick saidthat town’s newly elected City Council was eagedr to stop the rebate. The new memberse have philosophical differences with the previous council over and the ruling provided them with a temporaryy way to suspendthe rebate, he said. Phoenisx Vice Mayor Tom Simplot agreeswith Bolick. He votex against the original tax rebate dealwith Klutznick, and he was the only City Counci l member who opposed asking for the Arizonqa Supreme Court review.
“What the court said is that this particular instance fell outside the boundarie sof acceptability,” Simplot said of the incentive He does not believe the court’s languagre presents an “unworkable formula” for future dealsx between the city and Bolick doesn’t think the Supreme Court will hear the but Simplot hopes the court will providw guidelines for future incentives. One factof that will come into play is the potential for interestedd parties to file amicus or “friend of the court,” briefs. Such briefw are filed by outsid e parties who claim they or their stakeholders couldf be impacted by thecase outcome.
Gammagew has been stumping for local organizations to file such briefs to urgethe state’sz highest court to define the parameterss of the gift clause. Gammage thinks the Arizonaw League of Citiesand Towns, a nonprofit that represents 90 incorporated will file such a brief.
Tuesday, December 6, 2011
Vurv merges with human resources company - Jacksonville Business Journal:
asabcitxit.blogspot.com
will integrate Vurv's e-recruitment applications into itsbundled multicountry, HR and payroll outsourcing application called euHReka. The combinationh is intended to provide a comprehensivs human resources outsourcing package for organizationa with aglobal "We selected Vurv because of the deptu and breadth of their product offering, global capabilities and proven traco record of serving top companies worldwide," said Rudy Vandenberghe, executive directof of Arinso. "Our specialization in HR and global coverage combinedewith Vurv's best-of-breed e-recruitment applications provide an end-to-endc HR and e-recruitment offering with enormousw opportunities.
" Andrew Geisel, vice president for global business developmeng at Jacksonville-based Vurv, said Arinso' client base that includes a fifthj of Fortune Global 500 employers is a good fit for Vurv. "We share complementary strategies and a mutual focus on innovation and exceedingcustomer expectations," Geisel "We look forward to a successful
will integrate Vurv's e-recruitment applications into itsbundled multicountry, HR and payroll outsourcing application called euHReka. The combinationh is intended to provide a comprehensivs human resources outsourcing package for organizationa with aglobal "We selected Vurv because of the deptu and breadth of their product offering, global capabilities and proven traco record of serving top companies worldwide," said Rudy Vandenberghe, executive directof of Arinso. "Our specialization in HR and global coverage combinedewith Vurv's best-of-breed e-recruitment applications provide an end-to-endc HR and e-recruitment offering with enormousw opportunities.
" Andrew Geisel, vice president for global business developmeng at Jacksonville-based Vurv, said Arinso' client base that includes a fifthj of Fortune Global 500 employers is a good fit for Vurv. "We share complementary strategies and a mutual focus on innovation and exceedingcustomer expectations," Geisel "We look forward to a successful
Sunday, December 4, 2011
Seattle mayor wants to end employee head tax - Business First of Columbus:
ejoxot.wordpress.com
Nickels proposed the $25-per-employee tax in 2006 as one of threee elements of a package to fund local stree repair andadd sidewalks, bicycle lanes and other Repealing it would reducew funding for the “Bridging the Gap” program by about $4.7 “It’s Economics 101: when you tax you get less of it, and we want more jobs in said Council President Conlin. Reaction from the business communit ywas swift. “This tax representa an ‘unwelcome mat’ for business, and it’x past time that the city rolleedit up,” said Kate Joncas, president of the , which opposed the tax from the beginning.
“Taxingy new employees in Seattle sends the wrong messagwe to businesses looking to grow and businesses looking to relocate toour city,” she The also supported the “It sends a clear message that elected officialw are targeting specific actions to retain and create a job-growing economy,” said Chambere President & CEO Phil Bussey. “We applaud Mayor Nickels and Councilmemberes Burgess and Conlin for their leadership and will be working with council to see it The employee head tax has becomed a hot issue inthis year’s races. At a recenyt Downtown Seattle Associationcandidate forum, many candidatews talked about repealing the tax.
It’s also a relatively easy target. The employed head tax, which applies only to employeed who drive to work most of the has been bringing in less monegythan expected. Meanwhile, the commercial parking tax, whicjh will increase to 10 percent onJuly 1, has been bringing in more moneh than expected. And a nine-year, $365 millio n property tax levy remainwsin place.
Nickels proposed the $25-per-employee tax in 2006 as one of threee elements of a package to fund local stree repair andadd sidewalks, bicycle lanes and other Repealing it would reducew funding for the “Bridging the Gap” program by about $4.7 “It’s Economics 101: when you tax you get less of it, and we want more jobs in said Council President Conlin. Reaction from the business communit ywas swift. “This tax representa an ‘unwelcome mat’ for business, and it’x past time that the city rolleedit up,” said Kate Joncas, president of the , which opposed the tax from the beginning.
“Taxingy new employees in Seattle sends the wrong messagwe to businesses looking to grow and businesses looking to relocate toour city,” she The also supported the “It sends a clear message that elected officialw are targeting specific actions to retain and create a job-growing economy,” said Chambere President & CEO Phil Bussey. “We applaud Mayor Nickels and Councilmemberes Burgess and Conlin for their leadership and will be working with council to see it The employee head tax has becomed a hot issue inthis year’s races. At a recenyt Downtown Seattle Associationcandidate forum, many candidatews talked about repealing the tax.
It’s also a relatively easy target. The employed head tax, which applies only to employeed who drive to work most of the has been bringing in less monegythan expected. Meanwhile, the commercial parking tax, whicjh will increase to 10 percent onJuly 1, has been bringing in more moneh than expected. And a nine-year, $365 millio n property tax levy remainwsin place.
Thursday, December 1, 2011
UTMB receives cardiology training endowment - Philadelphia Business Journal:
torbjorntrainer1738.blogspot.com
Dr. John C. Price createdd the Melvin L. Price M.D. and Charlesw A. Price D.D.S. Endowment for Cardiology Fellowship Training to supporttyoung doctors’ education as they learn the nuances of treating heart disease, the leadingh cause of death in the United Price’s brothers both died of cardiovasculae disease. Price said he wanted to establish the endowment to ensure that UTMB can train more cardiologists who will be skilleds at helping patients with hearf problems makefull recoveries. The value of the endowmen t wasnot disclosed.
“The twin goals are to provide more effectivw therapy for those with heart disease and to encouragse early identification of individuals at risk for subsequenf intervention to modify and ultimately prevengt the morbidity of cardiac andvascular disease,” said Price, a head and neck In addition to his recenr endowment, Price has contributed to cardiology research at the universitty to aid the development of new treatmentd and procedures that reduce functional impairmentr and death from cardiovascular disease.
Dr. John C. Price createdd the Melvin L. Price M.D. and Charlesw A. Price D.D.S. Endowment for Cardiology Fellowship Training to supporttyoung doctors’ education as they learn the nuances of treating heart disease, the leadingh cause of death in the United Price’s brothers both died of cardiovasculae disease. Price said he wanted to establish the endowment to ensure that UTMB can train more cardiologists who will be skilleds at helping patients with hearf problems makefull recoveries. The value of the endowmen t wasnot disclosed.
“The twin goals are to provide more effectivw therapy for those with heart disease and to encouragse early identification of individuals at risk for subsequenf intervention to modify and ultimately prevengt the morbidity of cardiac andvascular disease,” said Price, a head and neck In addition to his recenr endowment, Price has contributed to cardiology research at the universitty to aid the development of new treatmentd and procedures that reduce functional impairmentr and death from cardiovascular disease.
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