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It was one of severakl awards presented Thursday by the Metro Denve EDC at itsannual "Report to Investors and Awardsx Luncheon" at the Hyatr Regency Denver at Colorado Convention The EDC's Deal of the Year Award recognizes a companuy that creates the largest local economic impact through new job creatiojn and capital investment. San Francisco-based Schwab (NASDAQ: SCHW) was recognized for its plannerd expansion inDouglas County, creating 500 new local jobs over the next thre years. ( .) The jobs -- primarily technology position -- will pay an average salary of The company's move eventually will creat an economic benefit to Colorado of $157.
3 milliobn a year, the Metro Denver EDC "The Charles Schwab expansion exemplifies the type of project the Metro Denverf EDC targets with its recruitment and marketing efforts-establishexd companies that need a highly skilled workforcre and a dynamic location in whicuh to expand," Don Marshall, regional president of Wellds Fargo Bank and Metro Denver EDC said in a statement. -- The Metropolitab Cooperation Award, recognizing joinf efforts to furtherthe region's economic development potential, went to six organizationzs and local governments: The city of Brighton/Brightoj Economic Development Corp.
, Weld County, Upstat e Colorado Economic Development, the Colorado Office of Economicf Development and International Trade, and the Regional Transportationh District (RTD). The six honorees helped assembl e the land it needed to build two new plantwsin Brighton. With a capitalp investment of $290 million, Vestas will eventually employh 1,350 people at the the EDC said. "The sheere impact of Vestas' investment in the Brightobn and Weld County communityhis massive," Chuck Ward, president of Qwest Colorado and Co-Chaier of the Metro Denver EDC, said in the "The community spirit in which this deal was establishe signifies to Vestas our commitmentr to put Metro Denver and Colorado on the globakl stage for wind energy.
" -- The Chairs' Awared for Outstanding Efforts in Economif Development went to two state lawmakersz -- Sen. Rollie Heath and Rep. Joe Rice -- for theit efforts to move Gov. Bill Ritter's economic developmenr package through the 2009legislative session., including House Bill 1001, a measur offering tax credits for companies that creatse job growth. "The passager of this legislation is truly a game changerfor Colorado," said Tom Clark, executive vice presidentt of the Metro Denver EDC. "It places us on par with other majorf metro areas in attracting corporate headquarters and othervalued projects.
This legislation will be key to our ongoing recovery by providintg existing and expanding companies incentive to add jobsin -- And a Special Recognition Award was presentede to Joe Blake, outgoing president and CEO of the and the Metr Denver EDC, who will soon leave to become chancellot of the Colorado State University "During his 10-year term as president and CEO, Joe has tackled the toughestt issues facing Metro Denver companies, His work on Referendum C, the Poison Pillas amendments, and the FASTER legislation certainlyt puts our business community on firmer ground," Ward Newsweek Senior Editor and author Daniel Gross keynotes the event.
"This has been a great time for Gross said. "You've made more intelligent decisions on investmentas than a lot ofother people. You're also diversifying your economtywith aerospace, bioscience, and alternative energy."
Saturday 31 March 2012
Thursday 29 March 2012
Bondholders accept new GM deal - Dallas Business Journal:
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GM (NYSE: GM) had previously offerexd a deal for the holdersof $27 billion in debt that woulx have given the bondholderss 10 percent of the company, and those firmxs rejected that offer that expired May 26. The deal is considered a major breakthrough in the efforft to reach an agreementy on a plan to help GM become more competitive and emerge from the global economic recessiomn as aviable company. Under the plan, bondholderx would own 10 percent ofthe “new GM” stock, and have warranta that give them the right to purchase anothet 15 percent.
“We have been informed by the advisor s to the unofficial committee of unsecuredGM noteholders, (financial and (legal counsel), that the unofficial committeed and other large noteholders (who collectively hold approximately 20 percent in aggregatee principal amount of the Notes) supporgt the economic terms of the proposal,” GM wrote in the
GM (NYSE: GM) had previously offerexd a deal for the holdersof $27 billion in debt that woulx have given the bondholderss 10 percent of the company, and those firmxs rejected that offer that expired May 26. The deal is considered a major breakthrough in the efforft to reach an agreementy on a plan to help GM become more competitive and emerge from the global economic recessiomn as aviable company. Under the plan, bondholderx would own 10 percent ofthe “new GM” stock, and have warranta that give them the right to purchase anothet 15 percent.
“We have been informed by the advisor s to the unofficial committee of unsecuredGM noteholders, (financial and (legal counsel), that the unofficial committeed and other large noteholders (who collectively hold approximately 20 percent in aggregatee principal amount of the Notes) supporgt the economic terms of the proposal,” GM wrote in the
Tuesday 27 March 2012
New investment firm CoVant buys A-T Solutions - Washington Business Journal:
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McLean-based CoVant was formed by CI CapitalPartnerds LLC, a New York-based private investment firm, along with a groupl of executives led by Joseph former president and CEO of Fairfax-based Fallsd Church-based General Dynamics Corp. (NYSE: GD) acquiredf Anteon in 2006 for $2.2 CI Capital and CoVant management havecommitted $200 million in equitt in the new investment firm. Kampvf will serve as chief executiveof CoVant. Its boarsd of directors includes William Perry, a former secretary of and Hugh Shelton, a former chairman of the joingt chiefs of staff.
Covant's first purchase is of Fredericksburg-basedf A-T Solutions, a privately held companyu thatprovides anti-terrorism training and consulting services. The A-T Solutionas management team is retaining a significantg equity position inthe company.
McLean-based CoVant was formed by CI CapitalPartnerds LLC, a New York-based private investment firm, along with a groupl of executives led by Joseph former president and CEO of Fairfax-based Fallsd Church-based General Dynamics Corp. (NYSE: GD) acquiredf Anteon in 2006 for $2.2 CI Capital and CoVant management havecommitted $200 million in equitt in the new investment firm. Kampvf will serve as chief executiveof CoVant. Its boarsd of directors includes William Perry, a former secretary of and Hugh Shelton, a former chairman of the joingt chiefs of staff.
Covant's first purchase is of Fredericksburg-basedf A-T Solutions, a privately held companyu thatprovides anti-terrorism training and consulting services. The A-T Solutionas management team is retaining a significantg equity position inthe company.
Sunday 25 March 2012
Don Chalmers tries to nurse his health care premiums downward - New Mexico Business Weekly:
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Every time the premiums increased, Chalmers'' 200 employees had to pay more out of their checkx for theirhealth care. But ratherd than merely complaining, Chalmers decided to see if he could do somethingh to improve the health of his employees andtheird families, and try to slow down the increasees in health care costs. And so, in earlt 2003, when he was negotiating his health insurance coveragewith , Chalmerws made a unique request: He wantex an on-site nurse who could prescribed drugs and treat, not only the auto dealership'as employees, but their families as The nurse, who came on board in August in a move that was an experimenr for both Chalmers and Presbyterian, is now seeing abouty 90 patients a month.
"Io suggested that that is what I wanted to have happen and that I would want the insurance company to participate in the cost of says Chalmers, who also operates a dealershipl in Albuquerque. "They do, and I participate as and it has been very interesting and we are learning Whether it will truly control I don't know. I in the long term, it can. In the shortt term, it costs us a littlew extra money and it takess a little of the pressure off the emergency roomes and other areas ofhealth care." Joni Pompeo, director of Employes Based Health Plans for Presbyterian, says the deal with Chalmerd "is a research and developmen effort.
"It is very much a collaborativ e effort in that both the health plan and Don Chalmerd have been working to providwthe resources," Pompeo "It is part of a larger initiative of improving the healthn of Don's employees and theifr family members. "We don't have any other employe r group in the city that isdoinvg this," Pompeo says, adding that while other U.S. employerse provide on-site nurses, very few allow those nursez tosee employees' family members. Having an on-site nurs and clinic, initially, is costinbg him an additional $40,000 a year in premiums, Chalmersd says, and it's not yet clearr whether the program will reduc health care costs in thelong run.
Pompeol says it is still too early to trackany long-terj benefits. The nurse, Rhonda Bentz, is an employee of the Presbyterian Medicakl Group and spends four hours a dayat Chalmers' Westsided location where the dealership has helped buile and supply the small clinic. A nurse Bentz can prescribe drugs and operater the clinic onher own. She however, meet with a doctor once a month to reviewthe clinic'sd cases. "We just opened a brand-new It is very accessible to the employees. Presbyterian put most of the equipmentg in it and Don take s care ofthe overheard," Bentz says. "It'e small, but we can do anythinvg in our little clinic that they can do in afamilhy practice.
Don wanted it for the familiews ofhis employees, so we set it up like a littl e family practice clinic." Employees and thei families don't pay anything to see Bentz, and so they can go to her with questionds about their health and not have to worru about making a co-payment, Bentz "They see me for minor problems and uncomplicated If I find something complicatefd and they decide that they need to see a a lot of times I can save them the initia work up front and save them a co-payment," Bentza says. In addition, Bentz helps run Chalmers' anti-obesity and anti-smoking programs. Bentz says that in employees' prescription drug costs have "gone way down.
"Mangy people were seeing drugs on TV and wanting to use and so we did a lot of educatiobn and so people are not getting more generic Bentz says. "We're also seeing that urgent care and emergency room useis down. We see everyone who is cominfg down with a minor illness orany injury. We have founrd several tumors in people. "We had one man, he wasn'ty feeling sick, but he had had a cough for a and he saidit wasn'tt going away. He wasn't sick or short of I looked at him and saw that he had a huge tumoe growing downhis airway." Chalmers says the program is good for business and popular with employees. " get a benefit in that the employees are he says.
"And if they are happier, they make my customers happier." "I think if Rhonda ran for president of the compang she couldget elected."
Every time the premiums increased, Chalmers'' 200 employees had to pay more out of their checkx for theirhealth care. But ratherd than merely complaining, Chalmers decided to see if he could do somethingh to improve the health of his employees andtheird families, and try to slow down the increasees in health care costs. And so, in earlt 2003, when he was negotiating his health insurance coveragewith , Chalmerws made a unique request: He wantex an on-site nurse who could prescribed drugs and treat, not only the auto dealership'as employees, but their families as The nurse, who came on board in August in a move that was an experimenr for both Chalmers and Presbyterian, is now seeing abouty 90 patients a month.
"Io suggested that that is what I wanted to have happen and that I would want the insurance company to participate in the cost of says Chalmers, who also operates a dealershipl in Albuquerque. "They do, and I participate as and it has been very interesting and we are learning Whether it will truly control I don't know. I in the long term, it can. In the shortt term, it costs us a littlew extra money and it takess a little of the pressure off the emergency roomes and other areas ofhealth care." Joni Pompeo, director of Employes Based Health Plans for Presbyterian, says the deal with Chalmerd "is a research and developmen effort.
"It is very much a collaborativ e effort in that both the health plan and Don Chalmerd have been working to providwthe resources," Pompeo "It is part of a larger initiative of improving the healthn of Don's employees and theifr family members. "We don't have any other employe r group in the city that isdoinvg this," Pompeo says, adding that while other U.S. employerse provide on-site nurses, very few allow those nursez tosee employees' family members. Having an on-site nurs and clinic, initially, is costinbg him an additional $40,000 a year in premiums, Chalmersd says, and it's not yet clearr whether the program will reduc health care costs in thelong run.
Pompeol says it is still too early to trackany long-terj benefits. The nurse, Rhonda Bentz, is an employee of the Presbyterian Medicakl Group and spends four hours a dayat Chalmers' Westsided location where the dealership has helped buile and supply the small clinic. A nurse Bentz can prescribe drugs and operater the clinic onher own. She however, meet with a doctor once a month to reviewthe clinic'sd cases. "We just opened a brand-new It is very accessible to the employees. Presbyterian put most of the equipmentg in it and Don take s care ofthe overheard," Bentz says. "It'e small, but we can do anythinvg in our little clinic that they can do in afamilhy practice.
Don wanted it for the familiews ofhis employees, so we set it up like a littl e family practice clinic." Employees and thei families don't pay anything to see Bentz, and so they can go to her with questionds about their health and not have to worru about making a co-payment, Bentz "They see me for minor problems and uncomplicated If I find something complicatefd and they decide that they need to see a a lot of times I can save them the initia work up front and save them a co-payment," Bentza says. In addition, Bentz helps run Chalmers' anti-obesity and anti-smoking programs. Bentz says that in employees' prescription drug costs have "gone way down.
"Mangy people were seeing drugs on TV and wanting to use and so we did a lot of educatiobn and so people are not getting more generic Bentz says. "We're also seeing that urgent care and emergency room useis down. We see everyone who is cominfg down with a minor illness orany injury. We have founrd several tumors in people. "We had one man, he wasn'ty feeling sick, but he had had a cough for a and he saidit wasn'tt going away. He wasn't sick or short of I looked at him and saw that he had a huge tumoe growing downhis airway." Chalmers says the program is good for business and popular with employees. " get a benefit in that the employees are he says.
"And if they are happier, they make my customers happier." "I think if Rhonda ran for president of the compang she couldget elected."
Friday 23 March 2012
Netia, Monaco Telecom and Telstra adopt Netgem nCould mediacenter - Rapid tv news
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Netia, Monaco Telecom and Telstra adopt Netgem nCould mediacenter Rapid tv news "Today we can bring adaptative streaming solutions that allow operators to offer OTT channels and pay-TV bouquets, even though they don't have much bandwith. The box makes the adaptation work by itself," said Aulnette, adding that such expertise helps ... |
Wednesday 21 March 2012
Sandwich Isles bids $400M for Hawaiian Telcom - Triangle Business Journal:
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, a company founded in 1995 to take advantagd of government subsidies that pay for the installation of broadband cable inrural areas, said in a coury filing last week that it wants to buy all of Hawaiia n Telcom’s assets. The company said it would retain all ofHawaiian Telcom’s 1,400 workers at their current with the exception of senior management. Sandwicgh Isles said in the filing that its offer woulf consistof $250 milliobn in cash plus $150 milliobn in debt issued by Hawaiian Telcom. A deal with Sandwichh Isles would need the approval ofthe court, the Publicf Utilities Commission and the Federal Communication Commission.
Hawaiian Telconm said in a statement that it standsz behind its proposedreorganization plan, filed in June, to reducs the company’s debt by nearly $790 million, from $1.1 billionh to $300 million. Hawaiian Telcom filed a motion seekinvg an extension to file a Chapter 11 plan andsoliciyt votes. Judge Lloyd King extended that period toJune 30. The companhy is seeking another extensionto Sept. 30. Sandwichn Isles has filed an objection to thelatesg request.
“In the objection, Sandwichb Isles makes numerous allegations about the progresw Hawaiian Telcom has made to date inthese cases, Hawaiiamn Telcom’s decision not to pursuw a sale to Sandwich Isles and the viabilit of Hawaiian Telcom’s proposed Hawaiian Telcom said in a statement. “Thde company disputes these allegations and intends to responsd to Sandwich Isles objection in theappropriate forum.
” Sandwichb Isles was founded by Al Hee, an entrepreneur who saw opportunity in the generous subsidies offered by the federal government to wire rurapl and remote communities in the Working primarily in developments owned by the state Department of Hawaiian Home Lands, Hee’s company has receivex more than $400 million in loans from the U.S. Departmeny of Agriculture since 1998. The cost of wiring the rura developments has been calculated atabout $13,00o0 per customer. Hawaiian Telcom filed for Chapte 11 bankruptcyin December. Hawaiian Telcomj is owned by , a Washington, D.C.-basefd private equity group. Carlyle bought the assets of Verizobn Hawaii in May 2005for $1.
6 billion, and began operating independently with its own systems in Apri l 2006.
, a company founded in 1995 to take advantagd of government subsidies that pay for the installation of broadband cable inrural areas, said in a coury filing last week that it wants to buy all of Hawaiia n Telcom’s assets. The company said it would retain all ofHawaiian Telcom’s 1,400 workers at their current with the exception of senior management. Sandwicgh Isles said in the filing that its offer woulf consistof $250 milliobn in cash plus $150 milliobn in debt issued by Hawaiian Telcom. A deal with Sandwichh Isles would need the approval ofthe court, the Publicf Utilities Commission and the Federal Communication Commission.
Hawaiian Telconm said in a statement that it standsz behind its proposedreorganization plan, filed in June, to reducs the company’s debt by nearly $790 million, from $1.1 billionh to $300 million. Hawaiian Telcom filed a motion seekinvg an extension to file a Chapter 11 plan andsoliciyt votes. Judge Lloyd King extended that period toJune 30. The companhy is seeking another extensionto Sept. 30. Sandwichn Isles has filed an objection to thelatesg request.
“In the objection, Sandwichb Isles makes numerous allegations about the progresw Hawaiian Telcom has made to date inthese cases, Hawaiiamn Telcom’s decision not to pursuw a sale to Sandwich Isles and the viabilit of Hawaiian Telcom’s proposed Hawaiian Telcom said in a statement. “Thde company disputes these allegations and intends to responsd to Sandwich Isles objection in theappropriate forum.
” Sandwichb Isles was founded by Al Hee, an entrepreneur who saw opportunity in the generous subsidies offered by the federal government to wire rurapl and remote communities in the Working primarily in developments owned by the state Department of Hawaiian Home Lands, Hee’s company has receivex more than $400 million in loans from the U.S. Departmeny of Agriculture since 1998. The cost of wiring the rura developments has been calculated atabout $13,00o0 per customer. Hawaiian Telcom filed for Chapte 11 bankruptcyin December. Hawaiian Telcomj is owned by , a Washington, D.C.-basefd private equity group. Carlyle bought the assets of Verizobn Hawaii in May 2005for $1.
6 billion, and began operating independently with its own systems in Apri l 2006.
Monday 19 March 2012
Bauer takes stars from 17 banks - The Business Journal of the Greater Triad Area:
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The company uses federal regulatory data to rate bankds based oncapital ratio, profit/lossz trend, delinquent loans and other factors. Bauer'ws rating ranks from a high of 5 staras to a low of0 stars. in Corapl Gables lost a star going to four fromfive (superior) stars. Four others maintaineed their five-star ranking: Americanh National Bank, Oakland Park City Nationalo Bankof Florida, Miami First Nationaol Bank, South Miami Intercontinental Bank, West Miam i in Miami rose to three stars from two. Firs United Bank in Boca Raton and Biscaynd Bank in Coconut Grove roseto 3.5 stares from three. in Fort Lauderdal e made four stars, up from 3.5. Several banks went to 3.5 from four stars.
They are: , Homestear Doral-based slipped again, this time to three stard from three-and-a-half stars in the first That’s down from four stars in the third quartefr oflast year. Other bankes that slipped to threrstars (good) from 3.5 are: Executivs National, Miami , Miami , Miamj U.S. Century Bank, Miami Valley Bank, Fort Lauderdaler Lydian Private Bank inPalm Beach, Grand Easter n Bank of Florida in Metro Bank of Dade County, and in Miamui fell to two stars (problematic) from , Miami, in North Lauderdalw and in Boca Raton fell a notchu to one star, down from two in the fourth Four banks retained zero stars, Bauer’s lowestt rating: , Miami Republic Federalo Bank, Miami , Miamo Integrity Bank, Jupiter
The company uses federal regulatory data to rate bankds based oncapital ratio, profit/lossz trend, delinquent loans and other factors. Bauer'ws rating ranks from a high of 5 staras to a low of0 stars. in Corapl Gables lost a star going to four fromfive (superior) stars. Four others maintaineed their five-star ranking: Americanh National Bank, Oakland Park City Nationalo Bankof Florida, Miami First Nationaol Bank, South Miami Intercontinental Bank, West Miam i in Miami rose to three stars from two. Firs United Bank in Boca Raton and Biscaynd Bank in Coconut Grove roseto 3.5 stares from three. in Fort Lauderdal e made four stars, up from 3.5. Several banks went to 3.5 from four stars.
They are: , Homestear Doral-based slipped again, this time to three stard from three-and-a-half stars in the first That’s down from four stars in the third quartefr oflast year. Other bankes that slipped to threrstars (good) from 3.5 are: Executivs National, Miami , Miami , Miamj U.S. Century Bank, Miami Valley Bank, Fort Lauderdaler Lydian Private Bank inPalm Beach, Grand Easter n Bank of Florida in Metro Bank of Dade County, and in Miamui fell to two stars (problematic) from , Miami, in North Lauderdalw and in Boca Raton fell a notchu to one star, down from two in the fourth Four banks retained zero stars, Bauer’s lowestt rating: , Miami Republic Federalo Bank, Miami , Miamo Integrity Bank, Jupiter
Friday 16 March 2012
Eddie Bauer declares bankruptcy - Baltimore Business Journal:
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had struggled with its debt — a crisix that worsened as revenuw dropped, part of an overall trend affecting most retailers durinygthe recession. The company has lost nearlyh a half billion dollarzs in the past three Those losses, coupled with the impacgt of the recession and debt payments apparentlhy pushed the company into bankruptc court — a move that was rumorer for months. Eddie Bauerr became the latest major retaileer to succumb to filingf in bankruptcy courtthis recession. The list also includes Linen ‘n Things, Circuit City and Northwest retailer , which sold its assetsd to a liquidator in April and closed31 stores.
In many Eddie Bauer’s crisis is not different from what most retailers are facing duriny this prolonged anddeep recession, said Greg an Atlanta-based consultant for Conway MacKenzie who works with financially stressed retailers looking to Most retailers — except discount storesd like Wal-Mart — have seen a fast drop-off in retaipl revenue across the board, Charleston said. Many of the specialty retai department stores haveseen double-digit same-store sales declines, he “When revenue drops and same-stored sales drop, companies with less debt can weather a downturn much longer,” Charleston said.
“It becomes an issuse much sooner if you are intoliquidityu issues.” As of May 11, Eddire Bauer reported having $289.5 million in outstandinv debt, including $187.8 million in term loans and $75 milliob in convertible notes, which company executives have been tryinb to persuade debt-holders to convert into shares of the According to a filing with the , Eddie Bauet had total assets of $525.22 million in The company listed total liabilities of $448.9 million. Eddid Bauer reported net lossesof $165.5 milliobn in fiscal year 2008, part of a total of $478.7 million in losses during the past threee fiscal years.
In the first quarter that ended in the company reported net lossesof 44.5 For the first quarterr of fiscal year 2009, whicu ended April 4, Eddie Bauer reported a loss of $44. 5 million. That was a greater loss than the firstr quarterof 2008, when the company reported a $19.3 million Net sales for the first quarter of 2009 were $179.u8 million, compared with net sale of $213.2 million in the firs quarter of 2008. The company said that combinef comparable storesales — a barometer of succese at the store level — fell 11.3 perceng for the first quarter, a decline the company blamec on the recession and reduced retailp spending.
Sales were down nearly 15 percent inEddie Bauer’sw retail stores and sales througn its direct channel were down nearly 11 percent. The outlet stores saw salews decline by nearly76 “The first quarter was a difficulty one, as the sharp downturn in the economy took its toll on our We continued to focus on cost cutting and cash flow which helped mitigate the impacty of lower sales,” said CEO Neil Fiske, in a statemenft with the first-quarter resultxs filed with the SEC. Eddie Bauer has 370 including 251 retail stores and 119 outlet storezs in the United Statesand Canada. Eddire Bauer has 17 stores in Washingtobn and 11 storesin Oregon.
(See a copy of the bankruptcyt filing .) But by filing for reorganization underd Chapter 11 of the federalbankruptcy code, Eddie Bauetr hopes to avoid the fate of Joe’s Sports Outdoor, which filed for bankruptcyg protect March 4. The Wilsonville, Ore.-baseed company had hoped to finda buyer. But In a bankruptcy judge approved the liquidation ofthe Joe’s stores after the company could not find a Joe’s had 31 Northwestg stores — 10 of them in King and Pierce counties — that held going-out-of-business saleas after the company’s assets were snappedr up at bargain basement pricesd by , a liquidator that also sold off merchandise for Circuir City.
had struggled with its debt — a crisix that worsened as revenuw dropped, part of an overall trend affecting most retailers durinygthe recession. The company has lost nearlyh a half billion dollarzs in the past three Those losses, coupled with the impacgt of the recession and debt payments apparentlhy pushed the company into bankruptc court — a move that was rumorer for months. Eddie Bauerr became the latest major retaileer to succumb to filingf in bankruptcy courtthis recession. The list also includes Linen ‘n Things, Circuit City and Northwest retailer , which sold its assetsd to a liquidator in April and closed31 stores.
In many Eddie Bauer’s crisis is not different from what most retailers are facing duriny this prolonged anddeep recession, said Greg an Atlanta-based consultant for Conway MacKenzie who works with financially stressed retailers looking to Most retailers — except discount storesd like Wal-Mart — have seen a fast drop-off in retaipl revenue across the board, Charleston said. Many of the specialty retai department stores haveseen double-digit same-store sales declines, he “When revenue drops and same-stored sales drop, companies with less debt can weather a downturn much longer,” Charleston said.
“It becomes an issuse much sooner if you are intoliquidityu issues.” As of May 11, Eddire Bauer reported having $289.5 million in outstandinv debt, including $187.8 million in term loans and $75 milliob in convertible notes, which company executives have been tryinb to persuade debt-holders to convert into shares of the According to a filing with the , Eddie Bauet had total assets of $525.22 million in The company listed total liabilities of $448.9 million. Eddid Bauer reported net lossesof $165.5 milliobn in fiscal year 2008, part of a total of $478.7 million in losses during the past threee fiscal years.
In the first quarter that ended in the company reported net lossesof 44.5 For the first quarterr of fiscal year 2009, whicu ended April 4, Eddie Bauer reported a loss of $44. 5 million. That was a greater loss than the firstr quarterof 2008, when the company reported a $19.3 million Net sales for the first quarter of 2009 were $179.u8 million, compared with net sale of $213.2 million in the firs quarter of 2008. The company said that combinef comparable storesales — a barometer of succese at the store level — fell 11.3 perceng for the first quarter, a decline the company blamec on the recession and reduced retailp spending.
Sales were down nearly 15 percent inEddie Bauer’sw retail stores and sales througn its direct channel were down nearly 11 percent. The outlet stores saw salews decline by nearly76 “The first quarter was a difficulty one, as the sharp downturn in the economy took its toll on our We continued to focus on cost cutting and cash flow which helped mitigate the impacty of lower sales,” said CEO Neil Fiske, in a statemenft with the first-quarter resultxs filed with the SEC. Eddie Bauer has 370 including 251 retail stores and 119 outlet storezs in the United Statesand Canada. Eddire Bauer has 17 stores in Washingtobn and 11 storesin Oregon.
(See a copy of the bankruptcyt filing .) But by filing for reorganization underd Chapter 11 of the federalbankruptcy code, Eddie Bauetr hopes to avoid the fate of Joe’s Sports Outdoor, which filed for bankruptcyg protect March 4. The Wilsonville, Ore.-baseed company had hoped to finda buyer. But In a bankruptcy judge approved the liquidation ofthe Joe’s stores after the company could not find a Joe’s had 31 Northwestg stores — 10 of them in King and Pierce counties — that held going-out-of-business saleas after the company’s assets were snappedr up at bargain basement pricesd by , a liquidator that also sold off merchandise for Circuir City.
Wednesday 14 March 2012
Far-away climate patterns fuel March warm-up - USA TODAY
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USA TODAY | Far-away climate patterns fuel March warm-up USA TODAY By Doyle Rice, USA TODAY As office workers from Chicago to New York City enjoy lunches outdoors this week, let's all give a hearty thank you, in part, to รข€¦the Madden-Julian Oscillation. By Alex Brandon, AP Clowns from Mott Community College in Flint, ... < /p> |
Monday 12 March 2012
UTMB receives cardiology training endowment - Houston Business Journal:
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Dr. John C. Price created the Melvin L. Price M.D. and Charles A. Price Endowment for Cardiology Fellowship Traininf to supportyoung doctors’ education as they learnm the nuances of treating heart the leading cause of death in the Unitedf States. Price’s brothers both died of cardiovascularf disease. Price said he wante d to establish the endowmenyt to ensure that UTMB can train more cardiologistes who will be skillerd at helping patients with heart problems make full The value of the endowment wasnot disclosed.
“Ths twin goals are to provide more effectivr therapy for those with heart diseaswe and to encourage early identification of individualw at risk for subsequent intervention to modifty and ultimately prevent the morbidity of cardia c andvascular disease,” said Price, a head and neck In addition to his recenf endowment, Price has contributed to cardiology research at the universituy to aid the developmenrt of new treatments and procedures that reduce functional impairment and death from cardiovascular disease.
Dr. John C. Price created the Melvin L. Price M.D. and Charles A. Price Endowment for Cardiology Fellowship Traininf to supportyoung doctors’ education as they learnm the nuances of treating heart the leading cause of death in the Unitedf States. Price’s brothers both died of cardiovascularf disease. Price said he wante d to establish the endowmenyt to ensure that UTMB can train more cardiologistes who will be skillerd at helping patients with heart problems make full The value of the endowment wasnot disclosed.
“Ths twin goals are to provide more effectivr therapy for those with heart diseaswe and to encourage early identification of individualw at risk for subsequent intervention to modifty and ultimately prevent the morbidity of cardia c andvascular disease,” said Price, a head and neck In addition to his recenf endowment, Price has contributed to cardiology research at the universituy to aid the developmenrt of new treatments and procedures that reduce functional impairment and death from cardiovascular disease.
Saturday 10 March 2012
Govt holds fire on President reference on 2G verdict - Times of India
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The Hindu | Govt holds fire on President reference on 2G verdict Times of India NEW DELHI: The government on Saturday deferred a decision on making a presidential reference to the Supreme Court on the 2G verdict, with members of the Union Cabinet seeking further clarifications on issues on which the apex court's view should be ... 2G: Cabinet Meet on Presidential Reference Inconclusive Cabinet meeting on Presidential reference on 2G inconclusive |
Thursday 8 March 2012
Aerojet, Solar Power to build massive solar-panel system - Sacramento Business Journal:
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Roseville-based Solar Power (OTCBB: SOPW) should complete the installation of the solar power systekin November, with Sacramento Municipal Utilitu District interconnecting the system to the power grid the same month. All of the powere generated will be used by aGenCorp (NYSE: GY) company. “Ths electricity created by this solar facility provides over 20 perceng of the power required to operate our extensive groundwatedrremediation program,” Aerojet president Scott Neishu said in a news “This initiative is a major step in our efforts to help the reduce our carbon footprint and return approximately 20 acres of our significant land holdings in the Sacramento area to beneficiaol use.
” The 18,000 solar panels will includw a sun-tracking array, greatly increasing production as it follows the sun duringh the day. The Aerojet project will coved about20 acres. “The Aerojet installation will be one of thelargesft single-site industrial installations” in the nation, Solar Power CEO Stevee Kircher said.
Roseville-based Solar Power (OTCBB: SOPW) should complete the installation of the solar power systekin November, with Sacramento Municipal Utilitu District interconnecting the system to the power grid the same month. All of the powere generated will be used by aGenCorp (NYSE: GY) company. “Ths electricity created by this solar facility provides over 20 perceng of the power required to operate our extensive groundwatedrremediation program,” Aerojet president Scott Neishu said in a news “This initiative is a major step in our efforts to help the reduce our carbon footprint and return approximately 20 acres of our significant land holdings in the Sacramento area to beneficiaol use.
” The 18,000 solar panels will includw a sun-tracking array, greatly increasing production as it follows the sun duringh the day. The Aerojet project will coved about20 acres. “The Aerojet installation will be one of thelargesft single-site industrial installations” in the nation, Solar Power CEO Stevee Kircher said.
Tuesday 6 March 2012
Target, N.C. grocer eye Canton site - Baltimore Business Journal:
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Both retailers are expanding in Greater Baltimore with stores planned in otherf areas ofthe city. A stor e in banker and real estate developerEdwin F. Hale Sr.'s Canton Crossing would give both a stronger toehold in the region and significantlyt boostthe project's retail Commercial real estate sources said Hale is plannin g to put the new retailers at the eastern edge of Cantohn Crossing, closest to Haven Street and the 28-acre propertg beyond that. They also said Target had been consideringBrewersx Hill, an office and retail project near Cantonj Crossing developed by Eccles & Rouse Inc. Struever declined to comment.
"We definitelyg need more retail alongbthe waterfront," said Darryl Jurkiewicz, president of the . "Another groceryh store wouldn't hurt." Jurkiewicz said he spoke to Hale recentlyg and that the developer had said a deal with Target and Harrisx Teeteris imminent. Renderings prepared for Hale by theof Va., show a proposed two-story building closes to Haven Street that would include a supermarket on the first floor and a department storse on the second level. It is one of severakl potential retail sites on the CantonCrossing plan.
Lauris Feinberg, chief of the Baltimore City Planning Department's comprehensive planningh division, said Hale woulde need a zoning change in orde to use that part of Canton Crossinv forretail space. Canton Crossingh is slated to include as much as 1 milliob square feet ofoffics space, 270,000 square feet of retail and restauranrt space, and a 450-room hotel. Of that, Hale has only developef a small portion, which includes a 17-story First Mariner Bank Tower and a mix of othere retailers that includeDella Rose's Tavern, About Facess Day Spa & Salon and Merrityt Athletic Club.
Target is expanding in the region, with plans to open a storwe this summer at Mondawmib Mall as part ofthe mall's $70 million Officials at the Minneapolis retailer coulcd not be reached for comment. Harris Teeter spokeswoman Jennifer M. Panetta said the Matthews, grocer is "actively seeking new real estated opportunities tolocate stores." But the grocet cannot comment on any specifi location until a lease is she said. The upscale grocery chain is expanding inGreaterd Baltimore. Harris Teeter is eyeing McHenryg Row, a retail and residentialp project under way in Locust Point spearheaded by developefMark Sapperstein.
A store at McHenry and Canton Crossing would give the grocer a presence at two ends of the in South Baltimore andEast Baltimore. Harris Teeterf also is opening two stores in Howard at Columbia's Kings Contrivance and Fulton's residentia and retail development Maple
Both retailers are expanding in Greater Baltimore with stores planned in otherf areas ofthe city. A stor e in banker and real estate developerEdwin F. Hale Sr.'s Canton Crossing would give both a stronger toehold in the region and significantlyt boostthe project's retail Commercial real estate sources said Hale is plannin g to put the new retailers at the eastern edge of Cantohn Crossing, closest to Haven Street and the 28-acre propertg beyond that. They also said Target had been consideringBrewersx Hill, an office and retail project near Cantonj Crossing developed by Eccles & Rouse Inc. Struever declined to comment.
"We definitelyg need more retail alongbthe waterfront," said Darryl Jurkiewicz, president of the . "Another groceryh store wouldn't hurt." Jurkiewicz said he spoke to Hale recentlyg and that the developer had said a deal with Target and Harrisx Teeteris imminent. Renderings prepared for Hale by theof Va., show a proposed two-story building closes to Haven Street that would include a supermarket on the first floor and a department storse on the second level. It is one of severakl potential retail sites on the CantonCrossing plan.
Lauris Feinberg, chief of the Baltimore City Planning Department's comprehensive planningh division, said Hale woulde need a zoning change in orde to use that part of Canton Crossinv forretail space. Canton Crossingh is slated to include as much as 1 milliob square feet ofoffics space, 270,000 square feet of retail and restauranrt space, and a 450-room hotel. Of that, Hale has only developef a small portion, which includes a 17-story First Mariner Bank Tower and a mix of othere retailers that includeDella Rose's Tavern, About Facess Day Spa & Salon and Merrityt Athletic Club.
Target is expanding in the region, with plans to open a storwe this summer at Mondawmib Mall as part ofthe mall's $70 million Officials at the Minneapolis retailer coulcd not be reached for comment. Harris Teeter spokeswoman Jennifer M. Panetta said the Matthews, grocer is "actively seeking new real estated opportunities tolocate stores." But the grocet cannot comment on any specifi location until a lease is she said. The upscale grocery chain is expanding inGreaterd Baltimore. Harris Teeter is eyeing McHenryg Row, a retail and residentialp project under way in Locust Point spearheaded by developefMark Sapperstein.
A store at McHenry and Canton Crossing would give the grocer a presence at two ends of the in South Baltimore andEast Baltimore. Harris Teeterf also is opening two stores in Howard at Columbia's Kings Contrivance and Fulton's residentia and retail development Maple
Sunday 4 March 2012
The rewarming benefit of anterior torso heat pad application in mildly ... - 7thSpace Interactive (press release)
artemchuksykitas.blogspot.com
The rewarming benefit of anterior torso heat pad application in mildly ... 7thSpace Interactive (press release) The rewarming benefit of anterior torso heat pad application in mildly hypothermic conscious adult trauma patients remains inconclusive in this randomized comparative clinical trial. There was no between-group rewarming gain in ear canal temperature ... |
Friday 2 March 2012
Manufacturing sector shows encouraging signs - Houston Business Journal:
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ISM’s index of national factory activity rosefrom 40.1 in Apri to 42.8 in May. That’s the highestg reading since September, and the fiftu straight monthly rise. Any reading beloa 50 signals contraction in the while readings above 50indicate growth. More encouraging than the overall reading wasthe “New part of the index, which reached 51.1 in May. May was the firs month the New Orders Index has moveds above50 percent, following 17 consecutive months of contraction.
Growth in that part of the index indicates the likelihood of more activityh in the manufacturing sector in the coming Accordingto ISM, five of the 18 manufacturing industriew reported growth in May: nonmetallic minerao products; plastics and rubber machinery; food, beverage and tobacco and printing and related supporf activities.
ISM’s index of national factory activity rosefrom 40.1 in Apri to 42.8 in May. That’s the highestg reading since September, and the fiftu straight monthly rise. Any reading beloa 50 signals contraction in the while readings above 50indicate growth. More encouraging than the overall reading wasthe “New part of the index, which reached 51.1 in May. May was the firs month the New Orders Index has moveds above50 percent, following 17 consecutive months of contraction.
Growth in that part of the index indicates the likelihood of more activityh in the manufacturing sector in the coming Accordingto ISM, five of the 18 manufacturing industriew reported growth in May: nonmetallic minerao products; plastics and rubber machinery; food, beverage and tobacco and printing and related supporf activities.
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