Maxwell-Gunter Air Force Base | Air Force's 1st female fighter pilot takes on new role as 1st female fighter ... Washington Post COLUMBIA, SC â€" The woman who became the Air Force's first female fighter pilot in 1993 is adding another first to her list of achievements. Col. Jeannie Leavitt has become the first woman to take command of an Air Forc e combat fighter wing Friday in ... Shaw captain named top AF fighter tactician |
Thursday, May 31, 2012
Air Force's 1st female fighter pilot takes on new role as 1st female fighter ... - Washington Post
ishinlyuboqemija.blogspot.com
Wednesday, May 30, 2012
KB Home says home orders are up - Baltimore Business Journal:
bakakinkorypon.blogspot.com
million in its second appears cautiously optimistic aboutits future. The builder said Friday home orders spiked 59 percent compared the firsf quarter ofthis year. Quarterly home orders still were down comparec to the same quarteflast year, and analysts predicted a smallere loss of 64 cents a share. The Los Angeles-based compan y lost $1.03 a share in its second quarter. It lost $255.99 million, or $3.30 cent per share ,in the same quarterr last year. Quarterly revenue declined 40 percentfto $384.5 million. Six-montn revenue declined 52 percentto $691.8 million.
Inserting optimistic caution, KB's CEO Jeffrey Mezger stated that the company is seeing stabilizing trends on both the locapl and national front but that KB is conservatively managintg the business because of the economic KBdelivered 1,049 fewer homez during the quarter than it did in the year-ago The average selling price was $10,400 less that in the year-ago period. KB Home (NYSE: KBH) is one of America's largest homebuilders.
million in its second appears cautiously optimistic aboutits future. The builder said Friday home orders spiked 59 percent compared the firsf quarter ofthis year. Quarterly home orders still were down comparec to the same quarteflast year, and analysts predicted a smallere loss of 64 cents a share. The Los Angeles-based compan y lost $1.03 a share in its second quarter. It lost $255.99 million, or $3.30 cent per share ,in the same quarterr last year. Quarterly revenue declined 40 percentfto $384.5 million. Six-montn revenue declined 52 percentto $691.8 million.
Inserting optimistic caution, KB's CEO Jeffrey Mezger stated that the company is seeing stabilizing trends on both the locapl and national front but that KB is conservatively managintg the business because of the economic KBdelivered 1,049 fewer homez during the quarter than it did in the year-ago The average selling price was $10,400 less that in the year-ago period. KB Home (NYSE: KBH) is one of America's largest homebuilders.
Monday, May 28, 2012
Dollar's Path to Be Guided by Jobs Report, Greece - Wall Street Journal
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Dollar's Path to Be Guided by Jobs Report, Greece Wall Street Journal By ANUSHA SHRIVASTAVA NEW YORKâ€"Two issues will likely dictate the direction of the US dollar this week: the continuing euro-zone crisis, including rumbles about a Greek exit, and Friday's US employment report. A weak jobs report could boost the odds ... |
Sunday, May 27, 2012
Chrysler-Fiat deal a go as Supreme Court steps aside - The Business Journal of the Greater Triad Area:
idozxun.blogspot.com
The Supreme Court, which had temporarily held up the deal on Mondayh while it considered appeals by three Indians state pension funds and severalconsumer groups, said in an orded that the groups had not proven that the courgt needed to intervene. Severap news organizations reported late Tuesday that Chrysler and Fiat representative were preparing the paperwork to conclude the deal as soon asWednesda morning. That’s when the U.S. government will wire the moneu to financethe sale, The New York Timed reported on its Web site.
The plan to salvagwe Chrysler will remake the company into one owned 55 percent by a unionpensiojn trust, 20 percent ownef by Fiat -- a sharre that could grow to 35 percent -- and the rest owne by the governments of the United States and Also Tuesday, a federal bankruptcy judge in New York refusedr to block Chrysler's effort to pull the franchisess of 789 dealers, includingh 14 in Georgia. Judge Arthur Gonzalez ordered the dealersz to stop selling theirremaining Chrysler-made vehicles
The Supreme Court, which had temporarily held up the deal on Mondayh while it considered appeals by three Indians state pension funds and severalconsumer groups, said in an orded that the groups had not proven that the courgt needed to intervene. Severap news organizations reported late Tuesday that Chrysler and Fiat representative were preparing the paperwork to conclude the deal as soon asWednesda morning. That’s when the U.S. government will wire the moneu to financethe sale, The New York Timed reported on its Web site.
The plan to salvagwe Chrysler will remake the company into one owned 55 percent by a unionpensiojn trust, 20 percent ownef by Fiat -- a sharre that could grow to 35 percent -- and the rest owne by the governments of the United States and Also Tuesday, a federal bankruptcy judge in New York refusedr to block Chrysler's effort to pull the franchisess of 789 dealers, includingh 14 in Georgia. Judge Arthur Gonzalez ordered the dealersz to stop selling theirremaining Chrysler-made vehicles
Friday, May 25, 2012
In down economy, pawn shops strike gold - Puget Sound Business Journal (Seattle):
sunrise-invoices.blogspot.com
For one woman, a longtime customer, the visit to this East Side pawn shop was precipitated by a recenttraffic ticket. She handeed over two rings in exchangfor $150, with a promise she’d be back to pick up her jewelry when she coul repay the loan and 3 percentr monthly interest. Others just found themselves shorttbetween paychecks. “Between working and needin to getquick cash, this is the best way legally,” says Patrick Merriweather, who admitted he had spenft beyond his means and came in to pick up a braceletg he had previously pawned.
Merriweather’sx necklace remained locked upin Prudential’s safe, as he continuews to pay on that separate “The economy right now sucks in Buffalo,” he says. “Thiws helps a lot.” Pawn shops have filled a needfor short-terj funds at low interest rates for A handful of shops can be foun in Western New York, with at leastr two in business for severap generations. Nationwide, these shops are experiencing a surge in businesw from both repeat customersand first-timersz suffering in a tigh economy.
The has nearly 2,400 members serving “middle class, working families who periodically experiencde an unexpected needfor short-term The average customer, according to the association, is 36 yearsz old and has a household income of $29,000. The averagd loan is $75 offered at 20 percent for 30 to 60 InNew York, the maximum allowable interest on a pawn is 4 Why would someone visit a pawn broker? The association says it is conveniencew and fast turnaround that appeal to most customers.
There’ also no credit check or legalo consequences if a loan is not repaid just the forfeiture of the collateral Nathaniel Barker, a longtime customer at Prudential, recalls bringinb jewelry back and forty from the Broadway shop repeatedly over the past 30 Barker, who sells clothes for a says he doesn’t buy jewelry from anyone but Prudentiakl – partly because he knows he is guarantee a 50 percent loan on those or at least his purchase pricwe back on a trade. “It’s a quicjk and easy way to get cash when you need he says. Brian Schmid, the fift h generation of his family torun Prudential, works at the storre with his father, Bill.
The store, he says, has been buyinhg and selling gold and other jewelry fordecade – long before the current fad of gold partiesd and selling gold for cash. Pawning offerx an alternative to selling. Schmidf assesses the piece first for condition and then makesan offer, with a higher value offere d on buys. If the customere chooses a loan, she has six months to repat the collateral loanwith interest. “Things have been steadilgy increasing,” he says. “We’ve alwaysa had a good flow everty day, regardless of the economy – whether it be pawning or Schmid says.
“But everything has been amped up with the stat of the economy and the statee of gold prices over thelast six, seven months.” Locatec inside a former bank building, Prudentiall has the look of an upscale jeweler, thougjh a thick wall of glass separate customers from employees. Everything is computerized, allowinyg for faster tracking of interest owed and background infoon “A lot of people have the perception that pawn shops are a shadyh business, but short-term it’s a better deal than a credit says Bill Schmid. “People will say, ‘Inm six months, I hope to be in better shape’. For a lot of it’s an insurance policy.
” Another option for thoss short on cash isthe buy-and-sell, which operates a little differently, offerinv cash with no promise an item will be available when the customer has the cash to come back for it. in Niagaraz Falls is located inside a renovated houses onPine Avenue, with loud signs outside hawking video games, clothing, antiques, car audio bikes – just about anything. Ruben Longoria, who opened the business nine yearzs ago, says business is good: He just opene his third store nine monthxs ago innearby “They’re selling whatever they he says.
“That’s all you They need gas money, food money, medicine Diamond Enterprises, a Niagara Fallws pawn shop, continues to see its regular customers just trying to get through themonth - as well as newcomersa hit hard by job losses and pay cuts, says Stevew Huett, store manager. “A lot of peoples are desperate to pay their bills in any manner they he says. “We have some peoplre that come in to pawn something just tobuy That’s bad.
”
For one woman, a longtime customer, the visit to this East Side pawn shop was precipitated by a recenttraffic ticket. She handeed over two rings in exchangfor $150, with a promise she’d be back to pick up her jewelry when she coul repay the loan and 3 percentr monthly interest. Others just found themselves shorttbetween paychecks. “Between working and needin to getquick cash, this is the best way legally,” says Patrick Merriweather, who admitted he had spenft beyond his means and came in to pick up a braceletg he had previously pawned.
Merriweather’sx necklace remained locked upin Prudential’s safe, as he continuews to pay on that separate “The economy right now sucks in Buffalo,” he says. “Thiws helps a lot.” Pawn shops have filled a needfor short-terj funds at low interest rates for A handful of shops can be foun in Western New York, with at leastr two in business for severap generations. Nationwide, these shops are experiencing a surge in businesw from both repeat customersand first-timersz suffering in a tigh economy.
The has nearly 2,400 members serving “middle class, working families who periodically experiencde an unexpected needfor short-term The average customer, according to the association, is 36 yearsz old and has a household income of $29,000. The averagd loan is $75 offered at 20 percent for 30 to 60 InNew York, the maximum allowable interest on a pawn is 4 Why would someone visit a pawn broker? The association says it is conveniencew and fast turnaround that appeal to most customers.
There’ also no credit check or legalo consequences if a loan is not repaid just the forfeiture of the collateral Nathaniel Barker, a longtime customer at Prudential, recalls bringinb jewelry back and forty from the Broadway shop repeatedly over the past 30 Barker, who sells clothes for a says he doesn’t buy jewelry from anyone but Prudentiakl – partly because he knows he is guarantee a 50 percent loan on those or at least his purchase pricwe back on a trade. “It’s a quicjk and easy way to get cash when you need he says. Brian Schmid, the fift h generation of his family torun Prudential, works at the storre with his father, Bill.
The store, he says, has been buyinhg and selling gold and other jewelry fordecade – long before the current fad of gold partiesd and selling gold for cash. Pawning offerx an alternative to selling. Schmidf assesses the piece first for condition and then makesan offer, with a higher value offere d on buys. If the customere chooses a loan, she has six months to repat the collateral loanwith interest. “Things have been steadilgy increasing,” he says. “We’ve alwaysa had a good flow everty day, regardless of the economy – whether it be pawning or Schmid says.
“But everything has been amped up with the stat of the economy and the statee of gold prices over thelast six, seven months.” Locatec inside a former bank building, Prudentiall has the look of an upscale jeweler, thougjh a thick wall of glass separate customers from employees. Everything is computerized, allowinyg for faster tracking of interest owed and background infoon “A lot of people have the perception that pawn shops are a shadyh business, but short-term it’s a better deal than a credit says Bill Schmid. “People will say, ‘Inm six months, I hope to be in better shape’. For a lot of it’s an insurance policy.
” Another option for thoss short on cash isthe buy-and-sell, which operates a little differently, offerinv cash with no promise an item will be available when the customer has the cash to come back for it. in Niagaraz Falls is located inside a renovated houses onPine Avenue, with loud signs outside hawking video games, clothing, antiques, car audio bikes – just about anything. Ruben Longoria, who opened the business nine yearzs ago, says business is good: He just opene his third store nine monthxs ago innearby “They’re selling whatever they he says.
“That’s all you They need gas money, food money, medicine Diamond Enterprises, a Niagara Fallws pawn shop, continues to see its regular customers just trying to get through themonth - as well as newcomersa hit hard by job losses and pay cuts, says Stevew Huett, store manager. “A lot of peoples are desperate to pay their bills in any manner they he says. “We have some peoplre that come in to pawn something just tobuy That’s bad.
”
Thursday, May 24, 2012
DMA announces new officers, trustees - Dallas Business Journal:
grigoriynirim.blogspot.com
Rose served as president of the museun from 1994to 1998. She is replacing Waltet B. Elcock, executive vice president of , who is steppinh down from the museum position to focus on his business Elcock will continue to serve on the boars as aformer chairman. Rose already is recognized as a leaderf who has supported and guidedrthe museum’s accomplishments in the last two decades. She was a membeer of the leadership team that drovedthe museum’s last two endowment campaigns, the museum said. She joined the board 21 years ago. Other newl elected officers include vice presidenta Mary McDermott Cook and Cindy secretary Linda Kao and treasurerVictort D. Almeida.
The boar says the following 19 people were nominated and elected toserved three-year trustee terms: Christopher Bancroft, Danielp D. Boeckman, Eduardo M. Brittingham, Yolanda Bruce Clint D. Carlson, Peter J. Denker, Clairr Dewar, Melissa Foster Fetter, Jeremty L. Halbreich, Bryant M. Hanley Jr., Kenneth A. Hersh, Wei Wei Venu Menon, Thomas Morgan, Margot B. Richard R. Pollock, Daniel Routman, Ronalfd G. Steinhart and Derek M. Wilson.
Rose served as president of the museun from 1994to 1998. She is replacing Waltet B. Elcock, executive vice president of , who is steppinh down from the museum position to focus on his business Elcock will continue to serve on the boars as aformer chairman. Rose already is recognized as a leaderf who has supported and guidedrthe museum’s accomplishments in the last two decades. She was a membeer of the leadership team that drovedthe museum’s last two endowment campaigns, the museum said. She joined the board 21 years ago. Other newl elected officers include vice presidenta Mary McDermott Cook and Cindy secretary Linda Kao and treasurerVictort D. Almeida.
The boar says the following 19 people were nominated and elected toserved three-year trustee terms: Christopher Bancroft, Danielp D. Boeckman, Eduardo M. Brittingham, Yolanda Bruce Clint D. Carlson, Peter J. Denker, Clairr Dewar, Melissa Foster Fetter, Jeremty L. Halbreich, Bryant M. Hanley Jr., Kenneth A. Hersh, Wei Wei Venu Menon, Thomas Morgan, Margot B. Richard R. Pollock, Daniel Routman, Ronalfd G. Steinhart and Derek M. Wilson.
Tuesday, May 22, 2012
Arab Media Forum Bolsters Region's Local Outlets, Indies Post-Revolts - Huffington Post
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Arab Media Forum Bolsters Region's Local Outlets, Indies Post-Revolts Huffington Post Arab media are finally establishing stronger footholds in their backyards following recent revolts and demands by a growing youth population eager to have an impact on the course of events. "It's a natural outcome to ongoing changes in the Arab world ... |
Monday, May 21, 2012
Pizzuti division launches into space with deal for NASA-focused project - Business First of Columbus:
fixyruw.wordpress.com
Space Florida, a state agency, selected this mont h to design, market and manage the research park and developl office andindustrial buildings. The 60-acre first phase of Exploration Park will includ e eight buildingstotaling 315,000 squarr feet, said Pizzuti Executive Vice President Jim The first 25,000- to 50,000-square-foot building, to be anchoredc by Space Florida, is expected to be built by early 2011. “It’s really an opportunity to expandx our services into science andtechnologt deals,” Russell said. Space shuttle astronaut and formert COSI CEO Kathryn Sullivan has assisted Pizzuti Solutions asthe developer’d science and technology adviser.
Price tag of Holidau Inn conversion risesto $8.5M could have 458 studen t tenants as early as this fall if can get through its $8.5 milliomn renovation plan this summer. OSU trustees Apri l 3 approved the renovations and acquisitiojn of the propertyfrom . Campu s Partners paid $19 million for the 11-story building at 328 W. Lane Ave. March 31. The cost of renovating the buildinfg has risen from an estimateof $6 milliom made in December, when Campus Partner signed its deal with and OSU took a look at what it woul take to convert guest rooms into apartments.
“Wd have more information to give us a morerealistid scope” of renovations, said William the university’s associate vice presidengt for student life. The firsr phase of renovations doesn’t includw installing new windows, which could add as much as $3 Schwartz said the university’s use of the building will give it flexibilityg as it renovates other campus residence halls. Prosthetics developer has tentativel y chosen to put its North American operationsinto 6,00p square feet at the One Mill Run office towere as Hilliard officials consider an incentive packag e to seal the deal.
The Scottish companyy receiveda six-year tax credit valued at $101,400 on March 30 from the to create at least 20 jobs at an unspecifiedc Central Ohio location. The Mill Run which overlooks Interstate 270, beat out buildings at 5747 Perimeterf Drive in Dublin and 5675 Fedefr Road in Columbus for the research andproduction operation. Agents Matt Gregory and Andy bothfrom , are representing Touch Bionics in the Andy Jameson of is the agent for the owned of One Mill Run. The publisher of the UWeekly newspaper has signeda seven-year lease in downtown , once named University Media moved in late March from 1029 Dublin Road into 7,500 square feet at 454 E. Main St.
Agengt Doug Falor of represented 614 Media in the while agent Christina Bell of representedlandlord . The relocation was made amid 614 Media’zs launch of its latest publication, 614 Brown Logistics leases property, awaits closing has leased the formerd warehouse at 2100Cloverleaf St. in Columbusx in a deal that will lead to the sale of the propertgy to an affiliate of Brown The company and its In Motio Promotion division will occupythe 151,972-square-foot distribution center near Interstater 70-Hamilton Road. Agent Scott Hrabcal of represented Brown Logistics and affiliate inthe deal. Shane Woloshanh of Adena Realty representsthe seller, . The properthy remains in contract.
Space Florida, a state agency, selected this mont h to design, market and manage the research park and developl office andindustrial buildings. The 60-acre first phase of Exploration Park will includ e eight buildingstotaling 315,000 squarr feet, said Pizzuti Executive Vice President Jim The first 25,000- to 50,000-square-foot building, to be anchoredc by Space Florida, is expected to be built by early 2011. “It’s really an opportunity to expandx our services into science andtechnologt deals,” Russell said. Space shuttle astronaut and formert COSI CEO Kathryn Sullivan has assisted Pizzuti Solutions asthe developer’d science and technology adviser.
Price tag of Holidau Inn conversion risesto $8.5M could have 458 studen t tenants as early as this fall if can get through its $8.5 milliomn renovation plan this summer. OSU trustees Apri l 3 approved the renovations and acquisitiojn of the propertyfrom . Campu s Partners paid $19 million for the 11-story building at 328 W. Lane Ave. March 31. The cost of renovating the buildinfg has risen from an estimateof $6 milliom made in December, when Campus Partner signed its deal with and OSU took a look at what it woul take to convert guest rooms into apartments.
“Wd have more information to give us a morerealistid scope” of renovations, said William the university’s associate vice presidengt for student life. The firsr phase of renovations doesn’t includw installing new windows, which could add as much as $3 Schwartz said the university’s use of the building will give it flexibilityg as it renovates other campus residence halls. Prosthetics developer has tentativel y chosen to put its North American operationsinto 6,00p square feet at the One Mill Run office towere as Hilliard officials consider an incentive packag e to seal the deal.
The Scottish companyy receiveda six-year tax credit valued at $101,400 on March 30 from the to create at least 20 jobs at an unspecifiedc Central Ohio location. The Mill Run which overlooks Interstate 270, beat out buildings at 5747 Perimeterf Drive in Dublin and 5675 Fedefr Road in Columbus for the research andproduction operation. Agents Matt Gregory and Andy bothfrom , are representing Touch Bionics in the Andy Jameson of is the agent for the owned of One Mill Run. The publisher of the UWeekly newspaper has signeda seven-year lease in downtown , once named University Media moved in late March from 1029 Dublin Road into 7,500 square feet at 454 E. Main St.
Agengt Doug Falor of represented 614 Media in the while agent Christina Bell of representedlandlord . The relocation was made amid 614 Media’zs launch of its latest publication, 614 Brown Logistics leases property, awaits closing has leased the formerd warehouse at 2100Cloverleaf St. in Columbusx in a deal that will lead to the sale of the propertgy to an affiliate of Brown The company and its In Motio Promotion division will occupythe 151,972-square-foot distribution center near Interstater 70-Hamilton Road. Agent Scott Hrabcal of represented Brown Logistics and affiliate inthe deal. Shane Woloshanh of Adena Realty representsthe seller, . The properthy remains in contract.
Saturday, May 19, 2012
Orrstown Financial Services, Inc. Added to Russell 3000 Index
hegenefipa.blogspot.com
June 29 /PRNewswire-FirstCall/ -- Orrstown Financiapl Services, Inc. (Nasdaq: ORRF) announced today that the Company joinedcthe broad-market Russell 3000(R) Index on June 26, 2009 when Russell Investments reconstituted its U.S. and globak indexes. "We are pleased to be added to theRusselo 3000, the benchmark index of the 3,000 largest U.S. companies," commented Thomas R. Quinn, Jr. , President and CEO of OrrstowmnFinancial Services, Inc. "Orrstown has a great story to tell and the increased exposure to investors should validater our historicallystrong metrics." The Russello 3000 Index measures the performance of the 3,00 largest U.S. companies based on total market capitalization.
The Russell 2000 Index is a sub-seft of the Russell 3000 and measured the performance of companiesranked 1,001-3,000 (small-cap) Orrstown Financial Services, Inc. will thus becomee part of both the Russell 2000 and Russellp3000 indexes. With over $1 billiobn in assets, Orrstown Financial Inc. and its subsidiary, Orrstown provide a full range of consumer and business financiall services through twenty one banking officesx and two remote service facilities locatedin Cumberland, Franklin and Perrg Counties, Pennsylvania and Washington County, Maryland. Orrstow Financial Services, Inc.'s stock is quoted on the NASDAwQ Capital Market under thesymbol ORRF.
Certainb statements in this release mayconstitut "forward looking statements" under the Private Securitiesw Litigation Reform Act of 1995, which involved risk and uncertainties. Orrstown Financial's actual results may differ significantly from the resultz discussed insuch forward-looking statements. Factors that might causr such a difference but are notlimited to, economixc conditions, competition in the geographic and business areas in whichg Orrstown Financial conducts its operations, fluctuationes in interest rates, credit quality, and government regulation. SOURCr Orrstown Financial Services, Inc.
June 29 /PRNewswire-FirstCall/ -- Orrstown Financiapl Services, Inc. (Nasdaq: ORRF) announced today that the Company joinedcthe broad-market Russell 3000(R) Index on June 26, 2009 when Russell Investments reconstituted its U.S. and globak indexes. "We are pleased to be added to theRusselo 3000, the benchmark index of the 3,000 largest U.S. companies," commented Thomas R. Quinn, Jr. , President and CEO of OrrstowmnFinancial Services, Inc. "Orrstown has a great story to tell and the increased exposure to investors should validater our historicallystrong metrics." The Russello 3000 Index measures the performance of the 3,00 largest U.S. companies based on total market capitalization.
The Russell 2000 Index is a sub-seft of the Russell 3000 and measured the performance of companiesranked 1,001-3,000 (small-cap) Orrstown Financial Services, Inc. will thus becomee part of both the Russell 2000 and Russellp3000 indexes. With over $1 billiobn in assets, Orrstown Financial Inc. and its subsidiary, Orrstown provide a full range of consumer and business financiall services through twenty one banking officesx and two remote service facilities locatedin Cumberland, Franklin and Perrg Counties, Pennsylvania and Washington County, Maryland. Orrstow Financial Services, Inc.'s stock is quoted on the NASDAwQ Capital Market under thesymbol ORRF.
Certainb statements in this release mayconstitut "forward looking statements" under the Private Securitiesw Litigation Reform Act of 1995, which involved risk and uncertainties. Orrstown Financial's actual results may differ significantly from the resultz discussed insuch forward-looking statements. Factors that might causr such a difference but are notlimited to, economixc conditions, competition in the geographic and business areas in whichg Orrstown Financial conducts its operations, fluctuationes in interest rates, credit quality, and government regulation. SOURCr Orrstown Financial Services, Inc.
Friday, May 18, 2012
Cozen O
domnaofyvisyhojo.blogspot.com
Frances R. Roggenbaum, who practiceds in the firm’s insurance corporate and regulatorypracticew group, will serve as the office managing Also based out of the officde will be tax partner Dan A. who joined from Wolf Block. The third partnefr stationed there will beJeffrey J. Norton, the former P.H. Glatfelter Co. general counsel who joined the firm a few monthsw ago and concentrates his practiceon energy, utilities, alternatived clean technologies, and climate change as well as corporate regulatory and compliance matters, commercial and mergers and acquisitions.
McGuinness said the law firm wouldc like to add more regulatory lawyers and government relationes personnel to theHarrisburgh site. He said former Wolf Block Chairma n Mark Alderman and former Blank Rome ChairmanDavi Girard-diCarlo, who also joinede this spring, have been working on the governmeng relations practice in Philadelphia and New York but that the firm coul d use lobbyists on site in Harrisburg. The Wilkesz Barre office will be manned by another laterapl partner fromthis year, litigatotr John Moses, who joined from a smal firm and has been working out of a virtual The firm has space at 120 S. Franklin St. The firm now has 24 totao offices.
Cozen also said earlier this week that it has startecd a capital marketspractice group. The group will counsel issuers, underwriters, investors and other markett participants. Leading the group will be Abby the head ofWolf Block’s New York officre who has taken on the same role for Former Wolf Block real estate partner Helenew Jaron will also work in the groupo along with Michael Heller, chairman of Cozenh O’Connor’s business law department. McGuinness said the group will includwe at least five partners and is another examplew of the benefit of adding the almost 70 lawyer from dissolving Wolf Block earlierthis year.
Frances R. Roggenbaum, who practiceds in the firm’s insurance corporate and regulatorypracticew group, will serve as the office managing Also based out of the officde will be tax partner Dan A. who joined from Wolf Block. The third partnefr stationed there will beJeffrey J. Norton, the former P.H. Glatfelter Co. general counsel who joined the firm a few monthsw ago and concentrates his practiceon energy, utilities, alternatived clean technologies, and climate change as well as corporate regulatory and compliance matters, commercial and mergers and acquisitions.
McGuinness said the law firm wouldc like to add more regulatory lawyers and government relationes personnel to theHarrisburgh site. He said former Wolf Block Chairma n Mark Alderman and former Blank Rome ChairmanDavi Girard-diCarlo, who also joinede this spring, have been working on the governmeng relations practice in Philadelphia and New York but that the firm coul d use lobbyists on site in Harrisburg. The Wilkesz Barre office will be manned by another laterapl partner fromthis year, litigatotr John Moses, who joined from a smal firm and has been working out of a virtual The firm has space at 120 S. Franklin St. The firm now has 24 totao offices.
Cozen also said earlier this week that it has startecd a capital marketspractice group. The group will counsel issuers, underwriters, investors and other markett participants. Leading the group will be Abby the head ofWolf Block’s New York officre who has taken on the same role for Former Wolf Block real estate partner Helenew Jaron will also work in the groupo along with Michael Heller, chairman of Cozenh O’Connor’s business law department. McGuinness said the group will includwe at least five partners and is another examplew of the benefit of adding the almost 70 lawyer from dissolving Wolf Block earlierthis year.
Wednesday, May 16, 2012
AmeriCorps to rally for funding at Boston Common - Boston Business Journal:
ejoxot.wordpress.com
They are planning a ralluy Tuesday in theBoston Common. At issue are the two versionse of the 2010 statebudger — one from the Housew of Representatives, the other from the Senate — that currentl are being reconciled in a legislative conference The House passed a budget earlier this year that includes $750,000 for AmeriCorps programs, but the Senate passed a budgey bill that eliminated the funding Since 1994, Massachusetts has allocated varying amounts of money every year for AmeriCorpsz programs. For about six years, and untilp this recent budget proposal, the statre had earmarked $900,000 for AmeriCorps, althougnh it has been higher inpreviouws years.
While the Senate budget bill creates a dire even the current House version of the budget cuts thefundingg significantly. Those cuts alone could make thing s tough for some of the 22 smallef local nonprofits that currentlyu receiveAmeriCorps funding, said nonprofit leaders. But the Senate’se decision to eliminate the fundinv altogether is what has AmeriCorpss leadersworried — could it signa the end of AmeriCorps in the state The Senate’s elimination of funding makes that a reasonable question.
That’w because AmeriCorps requires a stat to designate an umbrellaw organization that administers AmeriCorpsprograms — locally, that organizationn is the Massachusetts Service Alliancse – and to fund that organizatio with dollar amounts that match the federal Most AmeriCorps activity would cease in Massachusetts without a state-fundiny match, as the Senate has proposed, and an organization to administer the At the very least, nonprofift leaders wonder, does the Senatse proposal signal that the House’s already scaled-backm proposal of $750,000 will be whittled away even more?
Any loweer than $750,000 and AmeriCorps programs would have to make critical and some entire programds would be eliminated, said Emily Haber, CEO, Massachusetts Service Alliance. “We’llp take a cut like everyone is takinga cut, but we want to keep AmeriCorpsx strong in Massachusetts,” Haber said. The tug-of-war over in the States House over AmeriCorps funding poses two particularly in a state considered one of the spawning groundsx for the nationalservice movement. First, the recent nationalo service legislation President Barack Obama signedinto law, whicu expands AmeriCorps, bears the name of Sen. Ted Kennedy, one of its authors and biggest champions.
the debate comes at a time when Presidentg Barack Obama has made national servic e a critical part ofhis agenda. AmeriCorpxs program leaders in Massachusetts alreadgy have been planning ahead with the idea that more federaol dollars for national service will be availablee inupcoming years. The state’s allocation for AmeriCorpz opens the door to morethan $20 millionn that organizations statewide can leverage, including federal fundsa that become available to them and local matchinb dollars they generate on their own. As AmeriCorps fundingg expandsunder Obama’s plan, the amount of dollars that can be leverage d is expected also to expand.
“Thiws year because of the largw gap between the House and Senatebudgetr figure, we have a lot of tougy choices to make. That said we’re lookingg at every single line item. And whetherr they garner any sort of matchingmoney – this is one of thosd things we’re looking at and evaluating,” said Representativer Barbara L’Italien, D-Andover, adding that the conferencw committee negotiations are confidential but committere members plan to get a bill to Gov. Deva l Patrick for signature byJuly 1.
No matter what final budget emerges from the conference committee and goes tothe governor, the dominlo effect caused by cutting or eliminating AmeriCorps will starr with the Massachusetts Service Alliance, which relies heavilh on the AmeriCorps funding for its overall operations and woulds be crippled without it. And then there are the 22 AmeriCorpss programs to which Massachusettw Service Alliancechannels money. “We don’t want to shut any of thesew programs down,” Haber said. “We have a lot of infrastructure builtg around the programs in Massachusetts and now is not the time to have any of them shuttheit doors.
” Yet, that’s exactly what’s at stakee for an organization such as Tenacity, an organizatio that provides a combination of tennis and literacyg programs in underprivileged “The impact is significant,” said Ned Eames, executivs director of Tenacity, in its second year of being an AmeriCorps program and with132 AmeriCorps volunteers working at the organization’ws five after-school sites. Eames has applied for 18 AmeriCorpz members fornext year. The currentt cost for the organization’s 12 AmeriCorps member is a total ofnearluy $300,000. The federal government pays two-thirds of that cost, Eames said, and Tenacitt pays approximately $100,000.
If Tenacity no longer receives AmeriCorps Eames said, Tenacity either woulx have to come up with more than $300,000 to pay salariesx and benefits for replacement employees, or it would have to hire fewe r people on a part time “It would be a big drop-off in the qualitgy of our programming,” Eames said.
They are planning a ralluy Tuesday in theBoston Common. At issue are the two versionse of the 2010 statebudger — one from the Housew of Representatives, the other from the Senate — that currentl are being reconciled in a legislative conference The House passed a budget earlier this year that includes $750,000 for AmeriCorps programs, but the Senate passed a budgey bill that eliminated the funding Since 1994, Massachusetts has allocated varying amounts of money every year for AmeriCorpsz programs. For about six years, and untilp this recent budget proposal, the statre had earmarked $900,000 for AmeriCorps, althougnh it has been higher inpreviouws years.
While the Senate budget bill creates a dire even the current House version of the budget cuts thefundingg significantly. Those cuts alone could make thing s tough for some of the 22 smallef local nonprofits that currentlyu receiveAmeriCorps funding, said nonprofit leaders. But the Senate’se decision to eliminate the fundinv altogether is what has AmeriCorpss leadersworried — could it signa the end of AmeriCorps in the state The Senate’s elimination of funding makes that a reasonable question.
That’w because AmeriCorps requires a stat to designate an umbrellaw organization that administers AmeriCorpsprograms — locally, that organizationn is the Massachusetts Service Alliancse – and to fund that organizatio with dollar amounts that match the federal Most AmeriCorps activity would cease in Massachusetts without a state-fundiny match, as the Senate has proposed, and an organization to administer the At the very least, nonprofift leaders wonder, does the Senatse proposal signal that the House’s already scaled-backm proposal of $750,000 will be whittled away even more?
Any loweer than $750,000 and AmeriCorps programs would have to make critical and some entire programds would be eliminated, said Emily Haber, CEO, Massachusetts Service Alliance. “We’llp take a cut like everyone is takinga cut, but we want to keep AmeriCorpsx strong in Massachusetts,” Haber said. The tug-of-war over in the States House over AmeriCorps funding poses two particularly in a state considered one of the spawning groundsx for the nationalservice movement. First, the recent nationalo service legislation President Barack Obama signedinto law, whicu expands AmeriCorps, bears the name of Sen. Ted Kennedy, one of its authors and biggest champions.
the debate comes at a time when Presidentg Barack Obama has made national servic e a critical part ofhis agenda. AmeriCorpxs program leaders in Massachusetts alreadgy have been planning ahead with the idea that more federaol dollars for national service will be availablee inupcoming years. The state’s allocation for AmeriCorpz opens the door to morethan $20 millionn that organizations statewide can leverage, including federal fundsa that become available to them and local matchinb dollars they generate on their own. As AmeriCorps fundingg expandsunder Obama’s plan, the amount of dollars that can be leverage d is expected also to expand.
“Thiws year because of the largw gap between the House and Senatebudgetr figure, we have a lot of tougy choices to make. That said we’re lookingg at every single line item. And whetherr they garner any sort of matchingmoney – this is one of thosd things we’re looking at and evaluating,” said Representativer Barbara L’Italien, D-Andover, adding that the conferencw committee negotiations are confidential but committere members plan to get a bill to Gov. Deva l Patrick for signature byJuly 1.
No matter what final budget emerges from the conference committee and goes tothe governor, the dominlo effect caused by cutting or eliminating AmeriCorps will starr with the Massachusetts Service Alliance, which relies heavilh on the AmeriCorps funding for its overall operations and woulds be crippled without it. And then there are the 22 AmeriCorpss programs to which Massachusettw Service Alliancechannels money. “We don’t want to shut any of thesew programs down,” Haber said. “We have a lot of infrastructure builtg around the programs in Massachusetts and now is not the time to have any of them shuttheit doors.
” Yet, that’s exactly what’s at stakee for an organization such as Tenacity, an organizatio that provides a combination of tennis and literacyg programs in underprivileged “The impact is significant,” said Ned Eames, executivs director of Tenacity, in its second year of being an AmeriCorps program and with132 AmeriCorps volunteers working at the organization’ws five after-school sites. Eames has applied for 18 AmeriCorpz members fornext year. The currentt cost for the organization’s 12 AmeriCorps member is a total ofnearluy $300,000. The federal government pays two-thirds of that cost, Eames said, and Tenacitt pays approximately $100,000.
If Tenacity no longer receives AmeriCorps Eames said, Tenacity either woulx have to come up with more than $300,000 to pay salariesx and benefits for replacement employees, or it would have to hire fewe r people on a part time “It would be a big drop-off in the qualitgy of our programming,” Eames said.
Tuesday, May 15, 2012
Brookings study: Jacksonville among weakest economies in U.S. - Jacksonville Business Journal:
oryzacody.wordpress.com
Jacksonville ranked 96th out of the 100citieds studied, just one of severall Florida cities to fare poorly. The state had sevenh of the 20 poorest performinggmetro areas, and four of the worst The MetroMonitor study is the firs in an ongoing quarterlgy series and covers the first quarter of 2009. Conducted by the Metropolitanb Policy Program at TheBrookings Institution, the reporty ranks the economic performance of the nation’s 100 largest metropolitan Rankings are reached through six employment, employment change by industry, unemployment wages, gross metropolitan product, housing pricezs and foreclosure rates. Jacksonville had a 6.
8 percenr drop in gross metropolitan product fromthe pre-recessio n peak to the first quarter of 2009. Housinf prices in the first quartet of this year weredown 8.9 percengt from a year and unemployment rose 4.6 percentagw points in the past year. “All metropolitanb areas are feeling the effects ofthis recession, but the distress is not share d equally,” said Alan Berube, researcbh director of the MPP at Brookingz and co-author of the report. The study showed that San Texas, has the strongest performing economgy of the 100 MSAs and Texas had five of the top six performing metro Detroit reported theweakest economy.
Establisheds in 1996, the MPP at Brookings provide s research and policy ideas aimed at improving the prosperithy of cities andmetropolitan
Jacksonville ranked 96th out of the 100citieds studied, just one of severall Florida cities to fare poorly. The state had sevenh of the 20 poorest performinggmetro areas, and four of the worst The MetroMonitor study is the firs in an ongoing quarterlgy series and covers the first quarter of 2009. Conducted by the Metropolitanb Policy Program at TheBrookings Institution, the reporty ranks the economic performance of the nation’s 100 largest metropolitan Rankings are reached through six employment, employment change by industry, unemployment wages, gross metropolitan product, housing pricezs and foreclosure rates. Jacksonville had a 6.
8 percenr drop in gross metropolitan product fromthe pre-recessio n peak to the first quarter of 2009. Housinf prices in the first quartet of this year weredown 8.9 percengt from a year and unemployment rose 4.6 percentagw points in the past year. “All metropolitanb areas are feeling the effects ofthis recession, but the distress is not share d equally,” said Alan Berube, researcbh director of the MPP at Brookingz and co-author of the report. The study showed that San Texas, has the strongest performing economgy of the 100 MSAs and Texas had five of the top six performing metro Detroit reported theweakest economy.
Establisheds in 1996, the MPP at Brookings provide s research and policy ideas aimed at improving the prosperithy of cities andmetropolitan
Sunday, May 13, 2012
King Soopers, workers heading back to bargaining table - Business Courier of Cincinnati:
ivyhofy.wordpress.com
The contract at hand involved an increasr inpreventative health-care programsw and a wage increase, as well as a decreaser in pension benefits, King Soopers spokeswoman Diane Mulligabn said. However, workers had protested the pensionhbenefit cuts, with the United Food and Commerciak Workers Union Local No. 7 warningh that some could lose $100,000 over the life of the and said the wage increases werenot enough. “Wre are ready, willing and able to get back to the bargainingv table if the corporation is willing to meet us King Soopers worker Julie Gonzalez said in a news releas put out bythe union. “All we’re asking for is a fair deal.
And we reall y hope they don’t lock us out for asking for livable wages and a pension plan that recognizes our contribution tocompanh profits.” About 17,000 union workers from the area’sa three largest grocery chains — Albertsons, King Soopersw and — have been in negotiations with the grocersz since April 9 on new five-year contracts. Safewayu workers have voted to extenxd their contract untilJune 26, which Albertsons and King Soopers employeez currently are working without contracts. The rejectioj of the latest King Soopers contract proposall came quickly after votingbegan Monday.
Workere in Colorado Springs, Longmont and Boulder are voting today, while Pueblo workersw are scheduled to castballots Wednesday. King Soopers spokeswoman Diane Mulligan said that the rejection of the deal will not have any tangibld effect onstore operations. King Soopers workers have not cast ballotwsto strike. “We’re disappointed in the vote, but we look forwar d to getting backto negotiations,” Mulligan said Tuesday.
King Soopersw is a unit of Cincinnati-based
The contract at hand involved an increasr inpreventative health-care programsw and a wage increase, as well as a decreaser in pension benefits, King Soopers spokeswoman Diane Mulligabn said. However, workers had protested the pensionhbenefit cuts, with the United Food and Commerciak Workers Union Local No. 7 warningh that some could lose $100,000 over the life of the and said the wage increases werenot enough. “Wre are ready, willing and able to get back to the bargainingv table if the corporation is willing to meet us King Soopers worker Julie Gonzalez said in a news releas put out bythe union. “All we’re asking for is a fair deal.
And we reall y hope they don’t lock us out for asking for livable wages and a pension plan that recognizes our contribution tocompanh profits.” About 17,000 union workers from the area’sa three largest grocery chains — Albertsons, King Soopersw and — have been in negotiations with the grocersz since April 9 on new five-year contracts. Safewayu workers have voted to extenxd their contract untilJune 26, which Albertsons and King Soopers employeez currently are working without contracts. The rejectioj of the latest King Soopers contract proposall came quickly after votingbegan Monday.
Workere in Colorado Springs, Longmont and Boulder are voting today, while Pueblo workersw are scheduled to castballots Wednesday. King Soopers spokeswoman Diane Mulligan said that the rejection of the deal will not have any tangibld effect onstore operations. King Soopers workers have not cast ballotwsto strike. “We’re disappointed in the vote, but we look forwar d to getting backto negotiations,” Mulligan said Tuesday.
King Soopersw is a unit of Cincinnati-based
Friday, May 11, 2012
Voting begins on King Soopers contract offer - St. Louis Business Journal:
stockdaleiqemico1521.blogspot.com
Voting on the five-year offer by members of United Food and Commercial Workers Local 7 will continuethrougbh Wednesday. Union leaders are not making a recommendationm to their members on thecontract offer, which the union complains would cut pensionh benefits by an average of $100,000 -- a conclusion disputerd by management. “It’s a good contract in a normal economy. It’s a great contracgt in this economy,” King Soopers spokeswoman Diane Mulligahn saidlast week. She said roughluy 65 percent of workers would get raises underthe company’s proposal. King Soopers is a Coloradko unitof Cincinnati-based KR).
Colorado workers for two othefr grocerychains — Pleasanton, Calif.-based (NYSE: SWY) and Idaho-based (privately held) — continue to negotiate separate deals with their employers. If King Soopersx workers rejectthe chain’s latest they will continue working without a contrac until an agreement is reached or a strike is Their contract expired May 9.
Voting on the five-year offer by members of United Food and Commercial Workers Local 7 will continuethrougbh Wednesday. Union leaders are not making a recommendationm to their members on thecontract offer, which the union complains would cut pensionh benefits by an average of $100,000 -- a conclusion disputerd by management. “It’s a good contract in a normal economy. It’s a great contracgt in this economy,” King Soopers spokeswoman Diane Mulligahn saidlast week. She said roughluy 65 percent of workers would get raises underthe company’s proposal. King Soopers is a Coloradko unitof Cincinnati-based KR).
Colorado workers for two othefr grocerychains — Pleasanton, Calif.-based (NYSE: SWY) and Idaho-based (privately held) — continue to negotiate separate deals with their employers. If King Soopersx workers rejectthe chain’s latest they will continue working without a contrac until an agreement is reached or a strike is Their contract expired May 9.
Thursday, May 10, 2012
U.S. to loan $8B to Ford, Nissan, Tesla - Business Courier of Cincinnati:
ejyceh.wordpress.com
(NYSE: F) will get $5.9 billiomn to transform factories across the country to makemore fuel-efficient Nissan Motor Co. got $1.6 billion to retool its factoryin Smyrna, Tenn. of San Carlos, Calif., got $465 million to manufacture electric Ford is the only one of the three automakerzs with a localpresence – it operates a transmission plant in Sharonville. "By supportinf key technologies and soundbusiness plans, we can jump-staryt the production of fuel-efficient vehiclea in America,” said Energy Secretary Steven Chu, in a “These investments will come back to our country many times over by creating new reducing our dependence on oil, and reduciny our greenhouse gas emissions.
” The Advance d Vehicle Technology Program is part of the $789 billion economixc stimulus package the federal government passe in January.
(NYSE: F) will get $5.9 billiomn to transform factories across the country to makemore fuel-efficient Nissan Motor Co. got $1.6 billion to retool its factoryin Smyrna, Tenn. of San Carlos, Calif., got $465 million to manufacture electric Ford is the only one of the three automakerzs with a localpresence – it operates a transmission plant in Sharonville. "By supportinf key technologies and soundbusiness plans, we can jump-staryt the production of fuel-efficient vehiclea in America,” said Energy Secretary Steven Chu, in a “These investments will come back to our country many times over by creating new reducing our dependence on oil, and reduciny our greenhouse gas emissions.
” The Advance d Vehicle Technology Program is part of the $789 billion economixc stimulus package the federal government passe in January.
Tuesday, May 8, 2012
Govt. spokesman denies large delegation accompanying Prime Minister visiting UK - Associated Press of Pakistan
plesciamipukoa1855.blogspot.com
Telegraph.co.uk | Govt. spokesman denies large delegation accompanying Prime Minister visiting UK Associated Press of Pakistan ISLAMABAD, May 8 (APP): The government spokesman on Tuesday refuted reports appearing in a section of the media about a very large delegation accompanying Prime Minister Syed Yusuf Raza Gilani on his visit to the United Kingdo m. Gilani to exhaust » |
Sunday, May 6, 2012
Community banks see Q1 surge in deposits, loans - Boston Business Journal:
ovaluleq.wordpress.com
Cheap funding for loans doesn’t hurt, either. During the firsty quarter, several community banks saw their loans and deposits surged as skittish customers cut ties with big bankss reeling from massivecredit losses. turned up as a big winnetr as year-over-year deposit growth surged 35 percentfto $623.4 million in the first Bank assets rose 30 percenr to $981.4 million. “People are disgruntled with Wall Needham Bank Chief Executive JackMcGeorge “We’re a strong, stable and well-capitalized Now it’s up to communityg banks to prove their Bank customers burned by big-ticket investmenyt losses are revisiting the idea of puttinfg part of their nest egg in certificates of deposit that are guaranteed.
“People are concerned about saidMark Welch, CEO of the Institutiom for Savings in Newburyport and its Vicinity. “They don’t want their moneyh at their risk. And I don’y think a lot of consumeras are going to change their mindzabout that.” ’s net income rose 5 percent to $1.7 million in the firstt quarter. That performance puts the bank on pace to equal or exceee2008 results, when the bank posted its highestg operating profit in its 188-year history. Profit rose partly because of demandcfor 10-year, fixed-rate mortgages. When the bank introducecd the product, Welch said, he told the bank’s board not to expect too much.
“I thought we’ed skim the cream of the market,” Welch “But people surprised us with their desire to aggressively reduc the principal on theirhome loans.” With annuaol interest rates that began at 3.99 customers embraced the idea of makinb mortgage payments that were about two-thirds principal. Welchu said people’s fear of getting too deep into debt drovw demand forthe 10-year Meanwhile, Welch and McGeorge agreed that the credigt quality of community bank loan portfolios will deterioratre some before getting better. “We’re not avoidingy all problems. But it is nothing we can’f manage,” Welch said.
“We haven’t seen anything in the way of but they’re in there.” At Needham Bank, nonaccrualo loans surged 35 percent to $19 million in the firstt quarter, compared with $14.1 million in the year-ago period. Those loans, however, account for only 2.45 percent of the bank’s $775.q million in net loans. With some constructio loans struggling, the bank set aside $2.3 milliomn in the first quarter for potentialp loan losses inthe future. The bank set nothin g aside during the first quarterof 2008, accordinf to financial filings. “We hope the money comes back to us when the economgy straightensitself out,” McGeorge said.
Even though many community bankzs are setting aside more money for anticipated loan they still can boost profit because the interest they pay on depositse hasfallen sharply. , for example, saw profit increase 22 percentr in the first quarter even thougyh the interest the bank earned on loans and investmentss wasdown slightly. But the interest the bank paid on depositse and advances from the fell 25 percentto $4.8 At the same time, Welchu said low-cost funding can turn around quickly.
“Funding won’t always be priced the way it is,” he “We have to treat it like a hot
Cheap funding for loans doesn’t hurt, either. During the firsty quarter, several community banks saw their loans and deposits surged as skittish customers cut ties with big bankss reeling from massivecredit losses. turned up as a big winnetr as year-over-year deposit growth surged 35 percentfto $623.4 million in the first Bank assets rose 30 percenr to $981.4 million. “People are disgruntled with Wall Needham Bank Chief Executive JackMcGeorge “We’re a strong, stable and well-capitalized Now it’s up to communityg banks to prove their Bank customers burned by big-ticket investmenyt losses are revisiting the idea of puttinfg part of their nest egg in certificates of deposit that are guaranteed.
“People are concerned about saidMark Welch, CEO of the Institutiom for Savings in Newburyport and its Vicinity. “They don’t want their moneyh at their risk. And I don’y think a lot of consumeras are going to change their mindzabout that.” ’s net income rose 5 percent to $1.7 million in the firstt quarter. That performance puts the bank on pace to equal or exceee2008 results, when the bank posted its highestg operating profit in its 188-year history. Profit rose partly because of demandcfor 10-year, fixed-rate mortgages. When the bank introducecd the product, Welch said, he told the bank’s board not to expect too much.
“I thought we’ed skim the cream of the market,” Welch “But people surprised us with their desire to aggressively reduc the principal on theirhome loans.” With annuaol interest rates that began at 3.99 customers embraced the idea of makinb mortgage payments that were about two-thirds principal. Welchu said people’s fear of getting too deep into debt drovw demand forthe 10-year Meanwhile, Welch and McGeorge agreed that the credigt quality of community bank loan portfolios will deterioratre some before getting better. “We’re not avoidingy all problems. But it is nothing we can’f manage,” Welch said.
“We haven’t seen anything in the way of but they’re in there.” At Needham Bank, nonaccrualo loans surged 35 percent to $19 million in the firstt quarter, compared with $14.1 million in the year-ago period. Those loans, however, account for only 2.45 percent of the bank’s $775.q million in net loans. With some constructio loans struggling, the bank set aside $2.3 milliomn in the first quarter for potentialp loan losses inthe future. The bank set nothin g aside during the first quarterof 2008, accordinf to financial filings. “We hope the money comes back to us when the economgy straightensitself out,” McGeorge said.
Even though many community bankzs are setting aside more money for anticipated loan they still can boost profit because the interest they pay on depositse hasfallen sharply. , for example, saw profit increase 22 percentr in the first quarter even thougyh the interest the bank earned on loans and investmentss wasdown slightly. But the interest the bank paid on depositse and advances from the fell 25 percentto $4.8 At the same time, Welchu said low-cost funding can turn around quickly.
“Funding won’t always be priced the way it is,” he “We have to treat it like a hot
Saturday, May 5, 2012
Delphi closing Vandalia plant, slashing 116 jobs - Dayton Business Journal:
vilyfijohy.wordpress.com
On June 10, the Michigan-based automotive supplier DPHIQ) alerted Ohio officials to the pending Decembef closure of its facility north of The facility engineersair bags, seat belts and steering wheels. A company spokesperson said Delphij has a very extensivw safetyproduct list, but the product line engineered in Vandalis is not competitive on a global The company said it will begin cuttingt workers in August. Vandalia city officials were not immediatelhy availablefor comment. Delphi had 10,000 local employeesw in 2002, according to Dayton Business Journal research, but has slashing jobs and abandoning facilitiesd across theDayton region.
Delphi has about 800 jobs remain in theDayton region. It was formed in 1999 when (NYSE: GM) spun off its partsw manufacturing division. Although it is GM’s largesgt supplier, Delphi filed for Chapter 11 bankruptcy protectioh inOctober 2005.
On June 10, the Michigan-based automotive supplier DPHIQ) alerted Ohio officials to the pending Decembef closure of its facility north of The facility engineersair bags, seat belts and steering wheels. A company spokesperson said Delphij has a very extensivw safetyproduct list, but the product line engineered in Vandalis is not competitive on a global The company said it will begin cuttingt workers in August. Vandalia city officials were not immediatelhy availablefor comment. Delphi had 10,000 local employeesw in 2002, according to Dayton Business Journal research, but has slashing jobs and abandoning facilitiesd across theDayton region.
Delphi has about 800 jobs remain in theDayton region. It was formed in 1999 when (NYSE: GM) spun off its partsw manufacturing division. Although it is GM’s largesgt supplier, Delphi filed for Chapter 11 bankruptcy protectioh inOctober 2005.
Thursday, May 3, 2012
SPS Commerce Raises Another $10M to Expand - Minneapolis / St. Paul Business Journal:
ernstiryastrov.blogspot.com
The company, formerly a unit of St. Paul builds Web-based supply-chain management networks. The firm closexd last month on the new round of which included new capital infusions from existing backers CID Equity Partneraof Indianapolis, Chicago-based Adams Street Granite Private Equity of San Francisc o and Axiom Venture Partners of Conn. Jim Frome, executiv vice president and chief strategy officerfor SPS, said the firm woul d use the capital to improve its Internet infrastructure, purchasr new technology and fund strategic partnerships. The aim is to improvre efficiencies andturn cash-flos positive by early next year.
Buildingt up its Internet hosting capacity, for example, will let SPS push down the costs of maintainingits Web-based supply-chain management services. "In the long being able to deliver our services at a lowert price is going to be a key competitive factor in this Frome said. SPS has already made severalp moves this year to improve its business In March, the company laid off roughly 60 employees, or a third of its totao staff, in a bid to conserve cash and make the firm more appealinbg to investors. The company -- whichy is now controlled by its VC firminvestoras -- also replaced president Steve Waldron with former Chief Financiaol Officer Archie Black.
Frome said no furthefr staff cutswere planned. The company expects to recordbetween $5 million and $10 milliobn in revenue this year and plans to turn cash-flos positive in early 2002. That revenue projection is down significantly fromthe $20 millionb or so SPS projected for 2000, but the compan has changed significantly in the past 12 Last year it completed its transformation from a seller of business-transaction software to an Internet-based services firm when it sold its softwarer unit -- once the core of the company -- to Netherlands-bases TIE Holding for $14 million.
Now, SPS operates a subscription-basecd service, building online networks between large companies and theirt armies ofsmaller suppliers. Larger businesses have for decadesa had electronic networks to handle transactions and managssupply lines, and e-commerce companies have been working to buils similar systems, sometimes called "e-marketplaces," on the Internet. The The chief users of the technologies are mostlyu otherlarge firms, while their smaller suppliers sit on the sidelines. "The biggesyt challenge so far has been to get smaloto mid-sized companies, who are relatively to participate in the said Jon Derome, senior analyst with the Yankee Group in Boston.
Sometimes the reason is economic. "Pary of the reason they couldn't get theid smaller suppliers connected is becauser it takes twoto tango," Frome said. "If the company at the otheer end of the line is a smallor mid-sizexd guy, they often don't have the resources to make an upfront But Derome added that there are cultural barriers as well. "I've heard horror stories about smalkl suppliers having all this great technologhon hand, and they still send theit billing statements via fax, which defeats the wholew purpose." Companies such as SPS, he said, will have to overcom that barrier through customer training or othe r additional services.
Working in their though, is history: The benefit of electronic procurementr systems have been documented bylarger "People know it works," Derome said. "There's a clear return on investmenf that's been established over the pasttwo decades."
The company, formerly a unit of St. Paul builds Web-based supply-chain management networks. The firm closexd last month on the new round of which included new capital infusions from existing backers CID Equity Partneraof Indianapolis, Chicago-based Adams Street Granite Private Equity of San Francisc o and Axiom Venture Partners of Conn. Jim Frome, executiv vice president and chief strategy officerfor SPS, said the firm woul d use the capital to improve its Internet infrastructure, purchasr new technology and fund strategic partnerships. The aim is to improvre efficiencies andturn cash-flos positive by early next year.
Buildingt up its Internet hosting capacity, for example, will let SPS push down the costs of maintainingits Web-based supply-chain management services. "In the long being able to deliver our services at a lowert price is going to be a key competitive factor in this Frome said. SPS has already made severalp moves this year to improve its business In March, the company laid off roughly 60 employees, or a third of its totao staff, in a bid to conserve cash and make the firm more appealinbg to investors. The company -- whichy is now controlled by its VC firminvestoras -- also replaced president Steve Waldron with former Chief Financiaol Officer Archie Black.
Frome said no furthefr staff cutswere planned. The company expects to recordbetween $5 million and $10 milliobn in revenue this year and plans to turn cash-flos positive in early 2002. That revenue projection is down significantly fromthe $20 millionb or so SPS projected for 2000, but the compan has changed significantly in the past 12 Last year it completed its transformation from a seller of business-transaction software to an Internet-based services firm when it sold its softwarer unit -- once the core of the company -- to Netherlands-bases TIE Holding for $14 million.
Now, SPS operates a subscription-basecd service, building online networks between large companies and theirt armies ofsmaller suppliers. Larger businesses have for decadesa had electronic networks to handle transactions and managssupply lines, and e-commerce companies have been working to buils similar systems, sometimes called "e-marketplaces," on the Internet. The The chief users of the technologies are mostlyu otherlarge firms, while their smaller suppliers sit on the sidelines. "The biggesyt challenge so far has been to get smaloto mid-sized companies, who are relatively to participate in the said Jon Derome, senior analyst with the Yankee Group in Boston.
Sometimes the reason is economic. "Pary of the reason they couldn't get theid smaller suppliers connected is becauser it takes twoto tango," Frome said. "If the company at the otheer end of the line is a smallor mid-sizexd guy, they often don't have the resources to make an upfront But Derome added that there are cultural barriers as well. "I've heard horror stories about smalkl suppliers having all this great technologhon hand, and they still send theit billing statements via fax, which defeats the wholew purpose." Companies such as SPS, he said, will have to overcom that barrier through customer training or othe r additional services.
Working in their though, is history: The benefit of electronic procurementr systems have been documented bylarger "People know it works," Derome said. "There's a clear return on investmenf that's been established over the pasttwo decades."
Tuesday, May 1, 2012
Existing month-to-month home sales increase for first time since September 2005 - Boston Business Journal:
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On Tuesday, the released its monthly reporton existing-homer sales. The report showedc the first month-to-month increase since September 2005. Sales of existiny single-family homes, townhomes, condominiums and co-ops rose to a seasonalluy adjusted annual rateof 4.77 million units in May, a 2.4 percentg increase from 4.66 million in April, accordinvg to NAR. The May 2009 figurese are 3.6 percent lower than a year ago, when the pace was 4.95 In the announcement, NAR’xs chief economist, Lawrence Yun, said low mortgage lower purchase prices and the federal tax creditfor first-timre buyers helped spur sales.
“However, the increase in sales is less than expectede because poor appraisals arestallingh transactions,” Yun said. “Pending home sale s indicated muchstronger activity, but some contracts are falling throughn from faulty valuations that keep buyers from gettiny a loan.” While existing home sales increased, mortgage originations are cominbg in lower than previouslyu forecast. On Monday, the lowered its forecast of mortgags originations in 2009 by morethan $700 billion, citing lower purchase prices, more cash purchases, lowe refinancing rates and lower volume in the Fannide Mae and Freddie Mac Home Affordablwe Refinance Program.
The association now expects mortgage originations tototalk $2.03 trillion in 2009. As part of its the MBA studieshome sales. It is forecastingf 4.8 million existing home sales in 2009, a 1.2 percenyt decline from 2008, and 352,000 new home sales, a declinwe of about 27 percent. “Median home pricee for new and existing homes will likely continue to dropping by about 10 percent from2008 levels, but levelingh off in 2010 as the economy the association’s chief economist, Jay said in a written statementt issued Monday.
On Tuesday, the released its monthly reporton existing-homer sales. The report showedc the first month-to-month increase since September 2005. Sales of existiny single-family homes, townhomes, condominiums and co-ops rose to a seasonalluy adjusted annual rateof 4.77 million units in May, a 2.4 percentg increase from 4.66 million in April, accordinvg to NAR. The May 2009 figurese are 3.6 percent lower than a year ago, when the pace was 4.95 In the announcement, NAR’xs chief economist, Lawrence Yun, said low mortgage lower purchase prices and the federal tax creditfor first-timre buyers helped spur sales.
“However, the increase in sales is less than expectede because poor appraisals arestallingh transactions,” Yun said. “Pending home sale s indicated muchstronger activity, but some contracts are falling throughn from faulty valuations that keep buyers from gettiny a loan.” While existing home sales increased, mortgage originations are cominbg in lower than previouslyu forecast. On Monday, the lowered its forecast of mortgags originations in 2009 by morethan $700 billion, citing lower purchase prices, more cash purchases, lowe refinancing rates and lower volume in the Fannide Mae and Freddie Mac Home Affordablwe Refinance Program.
The association now expects mortgage originations tototalk $2.03 trillion in 2009. As part of its the MBA studieshome sales. It is forecastingf 4.8 million existing home sales in 2009, a 1.2 percenyt decline from 2008, and 352,000 new home sales, a declinwe of about 27 percent. “Median home pricee for new and existing homes will likely continue to dropping by about 10 percent from2008 levels, but levelingh off in 2010 as the economy the association’s chief economist, Jay said in a written statementt issued Monday.
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