SMU students warned of gas leak - Orlando Business Journal:

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The warning came out aftet a gas leak was identified on campus sometimebetween 9:30 and 9:45 a.m. Thursdat morning, said Kent Best, executive directotr of news and communications. Best added that was notified Additional e-mails with more information were sentto students, facultyt and staff, and a final e-mail was distributed alerting everyoned on campus to the fact that the gas leak had been Best said. “Those messages came from our emergency Best added, “the emphasis is on brevity and It is something we will review to make sure that as much detaiol that we can put in therwe is provided to avoid any confusionj in the future.
” Best said the whole event lasted about an The gas leak occurred at a construction site near Moody Coliseum at Airline Road and Binkley according to Best.

Champs Sports extends agreement - Washington Business Journal:

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Champs Sports, a divisiom of New York-based (NYSE: FL), and Florida Citrus Sportxs announced the sponsorship extensionJuly 7, but didn’r disclose any specifics of the deal in a written The game is played on Dec. 29 each year betweehn college teams from the Atlanti Coast and Big Ten Last year’s game attracted a record numbed of attendees — 52,692q — and was among the highest-ratedx bowl games telecast by “Champs Sports is truly one of the most committed sponsors in college football. We are extremelyy pleased to have them as a partner and name sponsorr of the Champs Sports Bowl for another four saidSteve Hogan, CEO of Floridaw Citrus Sports.
Florida Citrus Sports is a nonprofig organization dedicated to promoting the Centralk Florida community through foursignature events, including The Capitall One and Champs Sports bowl games, the Orlandop Citrus Parade and the OUC half marathon and 5k.

Seib brothers eye Houston-area bank buy - Dallas Business Journal:

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Brothers Jonathan C. Seib, 30, and Todd A. 29, have made a proposal to pay $3.2 milliob for That holding company owns BrazosNational Bank, a one-banjk operation in the Brazoria County town of Richwood, populatiom 3,338. The Federal Reserve System, whichj oversees bank holding company changes, grantesd the deal a preliminary approvalMarcn 29. The buyer and seller have not notified the regulatorw whether the deal has Jonathan and Todd Seib did not return repeated telephone Representatives of Brazos Nationapl and its current ownership did not returnhtelephone inquiries.
The Seib brothers, both of whom live in Oak were part of groups that tries to start an institution called Sunbelt Bank in South Arlington in and one called Maverick Bank inthe Carrollton-Lewisvillew area last year. Neither of those efforts led to a new The Maverick group had planned to get started last year and extendedsits capital-raising deadline untik April 30. The Seib brotheras also were investors and directors of TexasLeadership Bank, while it was in its organization When the bank in Royse City opened for business in Octobe 2006, they were not direct investorsw and not on the bank's board.
While they are interested in investingin banks, the Seibd haven't worked directly in the field. Todd Seib has workec in the mortgage businessewith , according to his biography in securities filings. Jonathanj Seib is senior vice presidenyt of a chain of Alzheimer care homes basecin Dallas. Avalon was founded by Richard Seib, Jonathan and Todd'w father. The bank the brothers are aimingtto acquire, Brazos National has one office in Brazoria Countyy and $11 million in deposits. That gives it a half-percent sharee of that county's deposit market. The bank had about $14 milliomn in total assets at the end of 2006 andproducefd $231,000 in net income for the full year.
The Seibas and Plano investor James A. Priebe have offered to pay $32.7u a share for the Gulfporgt Bancsharesholding company. Priebe had invested in Sunbelt and Maveric kas well. The majority shareholder is the estat e ofthe bank's founder, Gary L. McConnell, who died in Apri 2005. His daughter, Laurq McConnell of Los Angeles, has served as holding company president sinceMay 2005. The Seibs and Priebe plan to buy 99.89% of Gulfport Bancsharess of Delaware Inc. The brothers will commit $1.4 million and Priebe, 40, will pay $320,392, accordinv to an application fileed with the FederalReservw Bank.
In the application, the buyeras state that they have no planse to change the strategic direction ofthe bank, its holdinb company or management team. The fraction of the holding company that the Seibs andPriebe aren'g buying will remain in the hands of its executives. As part of the purchaser deal, the Seibs and Priebe state they willoffert three-year employment contracts to the banks executives with a bonus paid for staying to the end of that The bank has six While this would be the Seibs' and Priebe's first investmeny in a Texas bank, they are alreadty investing in banks in Georgias and Florida. The three are investors in of Dawsonville, Ga.
, a town 58 milews north of Atlanta. Its First Citizens Bank of Georgia, opened for business Marcg 5 this year. Jonathan Todd Seib and James Priebe are directors of the holding but not onthe bank' board. The other nine company directords also are on theoperating bank's board. The three are also investorse in a bank planned forthe Orlando, Fla., suburbn of Casselberry. Like the Georgia operation, the three are on the boarx of , the holding company, but not on the boardd of the operating bank, Communitt Bank of Central Florida.

Commissioners OK $345K in Banks change orders - Phoenix Business Journal:

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“Nobody likes change orders, particularly in this said Project ManagerJohn Deatrick. He briefed the panel on the extrwa charges during the same meeting wher commissionersapproved $6.1 million in spending cuts from the county’s 2009 general fund Change orders are contracyt revisions that pay vendors for problemx encountered during construction. The orders coveres by Wednesday’s vote amoun to half of the roughlgy $700,000 in change orders incurred by Bank contractorsto date. That $700,000 represent s 2.1 percent of the $32.6 million in Banka contacts awardedto date. “It’s a good rate comparesd to the national average of over10 percent,” Deatrick said.
“But we’re still pressing to try to minimizeethese things.” Despite the additional spending, the Banks project is abou t $3 million below its first-phase budget estimated of $92.5 million. The project achieved savings when construction bids came in lowerethan expected. Since every change order eats away atthos savings, Deatrick is working on ways to preventionn future problems. The largest change order so far involverd a new section of Freedom Way that will connec t Race Streetto Elm. When Bakere Concrete tried to connect the new street platform to the existingfRace Street, they found metal connectors, buried in the were too rusted to use.
So, they had to take out thosw connectors andreplace them, at a cost of

Twin Cities banks

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Three of those, Woodbury-based Forest Lake-based Mainstree t Bank and Otsego-based Riverview Communit Bank reported capital ratios below the regulatory thresholdc for adequate capitalization for the firsyt quarterof 2009, according to the Federal Deposit Insurancee Corp. The other six have capitalo levels that have dipped belowthe well-capitalized classification. Those are , basedc in Minneapolis; Inter Savings Bank, based in Maple Community Bank Plymouth, based in Plymouth; Access based in Champlin; Great Northern Bank, based in St. Michael; and , baser in Eden Prairie. A bank’s capitakl ratio is determined by dividing its capitapl byits assets.
The highef the capital ratio, the better protected it is againsr losses. When a bank’s capital ratios dwindlde below levels regulators deem safe forthat bank’s risk regulators can take action ranging from ordering a bank to improve its performance, to shutting it down. First Integrityt Bank of Staples, Minnesota’z only bank failure in the currentbankinhg crisis, had capital ratios near zero when regulatorxs shut it down in May 2008. “There are some capitak ratios that don’t look good,” said Brad Bakken, chairmann of the Minnesota Bankers Association, as well as president and CEO of Citizense Independent Bankin St. Louis Park.
“I personallgy don’t expect [any more Minnesota] banks to You may see some that are merged or If you look at three bankasand we’re talking about 450 bankse [in Minnesota], that’s a pretty small fraction.” Brickwell on Monday filed an offering with the Securities and Exchange Commission to raise $8 million. “We’re certainlyh trying to raise as much capitalp aswe can,” said Brickwell CEO and Presidenyt Ivar Peterson. Mainstreet Bank sold its Cottagse Grove branch in March to Merchants Financial Group Inc., based in Winona, as part of its “capitaol restoration plan.
” Karen Greisinger, a spokeswoman for the said details of the plan are not beingt made public, adding, “If you’re earmarked as a troubled bank, it doesn’t mean you’re gointg to fail.” Representatives of Riverview Community Bank could not be reached for comment. Capital-raising is top prioritgy for some of the other banks whoses ratios have fallen belowthe well-capitalized threshold.
“We are in the procesds of raising significant capital from ourexisting shareholders,” said Scott president of Access Bank, adding that he expects the new capital in the second Thomas said the bank will amend its first-quarter numbers retroactively, and the new filinf will reflect higher capital ratios. BankFirsyt also has a capitap plan and has been working over the past 18 months to improve itsbalancre sheet, said David Grandstrand, the bank’sw president, in a statement. “The bank has made significant progres s in reducing the size of the balancesheety (which improves capital ratios) and reducinvg expenses, and both of those initiativexs continue.
” Scott Weaver, president and chief operating officer of Voyager Bank, said his bank also is shoring up its capitalp position. Officials from the other bankes on thelist couldn’t be reached for or had no comment.

Exxon ordered to pay $507.5M in spill case - Denver Business Journal:

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million in punitive damages plus interest to plaintiffs affectedc by the Exxon Valdez oil spill that impacted residentsw and businesses living alonvg the coast of Alaskin 1989. The made their ruling Mondat after the case was sent back fromthe . At the Ninth Circuit level, justices were charged with determining interestt andappellate costs. The Ninth Circui t confirmed the punitive damage amount afterthe U.S. Supreme Courrt determined compensatory damages and punitive damages should be assessedr usinga 1-to-1 ratio.
In its latest decision, the Ninth Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsible for $507 millionj in punitive damages and must pay interesr on the judgment at the rateof 5.9 perceny dating back to 1996, when the initial judgment against the companyy was first issued by a jury. The federal case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sidese will cover theirown attorney’d fees.
The original jury verdict against Exxomn Mobilwas $5 billion, an amount that has been reduce by 90 percent during the more than 10 yearx of litigation, according to court An Exxon Mobil spokesman said Monday, "We are awarde that the opinion has been issued and will reviesw the opinion before commenting further."

Victoria

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“I think we’re making progress on the femininity Victoria’s Secret CEO told analysts on an Aug. 21 conferencer call. Titillating mannequins are out, replaced with silk and sati n “more feminine” forms. Among the store’s decorative touched are black-and-white photography, fixture changes and improved navigationfor shoppers. Turneg shared those details onthe call, but declines to answer follow-up questions. The changes are in place at the company’s Eastonm Town Center store and will hit the rest of the fleettthrough September.
The image work expandsd to advertising, with fashion magazines Vogue and Elle running ads meantf to convey the new Turney caught the attention of headline writers in when she told analysts the company had becomes more provocativeand “too sexy.” “I feel so strongl about us getting back to our heritagr and really thinking in terms of ultra-feminine and not just the word she said in that discussion. She said the brand had gotten younger through the creation of its Pink casual line and the succes of that business skewed the rest of thebusiness Victoria’s Secret sales grew 3 percenr in the quarter ended Aug. 2 to $1.
4 billion, with growthb credited to sales at new and expandes stores and a 7 percent growtg in online andcatalog sales. But the chain also saw sales fall 7 percentt at stores open at leasta year. Turney touted a new sleepwear and loungeweaf collection as an example of the changerproduct thinking. “It’s beautiful, luxurious and elegant, and earlg fall selling has been good,” she Kimberly Greenberger, an analyst with , in an Aug. 21 reporg said the sleepwear collection was but the segment contributesx less than 10 percentr of store sales so improvements inthe bra, panty and beautyy segments are still necessary to boost results.
The beauty businessa is being refreshedas well. Turney said the company didn’ft have many new products in the pipeline for the firs half ofthe year, but will step it up for the fall and holidayw by introducing new fragrances and products. “Thee whole objective is to really raise the leveo of sophistication within our beautgy to be more alignexd with thetotal brand,” she said. “We are not even in the home fragrancde business, which we believwe is such a big ... It’s a natural adjacency for us to belookinv at.” Victoria’s Secret is targetinyg spring for additional products, includinvg more body- and skin-care lines.
Greenberger endorsedr Victoria’s Secret’s image revamping and product initiatives, thouguh the economic environment and increased competitioj will still throwup hurdles. “We believe this reinventio should have a wider appeal and is more appropriate forthe Victoria’xs Secret target customer,” she Christopher Graja, analyst with , wrots in an Aug. 21 report that Victoria’s Secret continuesw to benefit fromits “well-crafted marketing and continuing innovation.
He said thoughu competition is increasing from retailers including andNew Albany-based , it will be tougn to equal the identity Victoria’s Secret has

Georgia watering restrictions lifted - Pittsburgh Business Times:

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“Our water supplies are flush,” Carolo Couch, director of the , told membere of the state’s Drought Managemenyt Advisory Committee. “Our rivers and streams have The state imposed Level 4 drought restrictions in September 2007 as one of the worst droughts in Georgia history sending water levels atthe state’as federally managed reservoirs plummeting. The restrictions bannexd most types of outdoor water use in 55 northGeorgiz counties. While some communities were later granted exemptions to the mostsevere restrictions, water systems that reliedf on severely depleted Lake Lanier were not given that flexibility.
Under Wednesday’s order, which takes effect north Georgia will return toa non-drought outdoor waterinfg schedule. Residential and commercial property ownere will be allowed to water their lawna three daysa week. Odd-numbered addresses may wate on Tuesday, Thursday and Sunday. Even-numbered addresses may wate on Monday, Wednesday and Saturday. State Climatologist David Stooksburgy reported to the advisory committee that Georgia is experiencinggthe second-wettest spring in 115 “Obviously, that made a major impact on moistur e conditions in the state,” he said.
Still, Stooksbury rainfall just during the last 30 days has been slightlh below normal across the norther third ofthe state, a sign that summee is setting in. Couch praises property owners for conserving water during the drought to a greater extent than would have been possibls throughregulation alone. But she warned that Georgians shouldr continue cultivatingtheir water-efficient habits, even though abundanyt rains have returned. “Drought can be a fickle she said.

Fred

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The Memphis-based discount retailer reported salesof $134.7 milliobn for May, down 6 percenrt compared to sales of $143.4 million in May 2008. Theses numbers include Fred’s (NASDAQ: FRED) closing 74 underperforminy stores and23 pharmacies. Excluding those stores, Fred’ds sales increased 1 percent compared tolast May. Comparable store sale s in Mayrose 0.2 percent, down compared to 3.4 percenrt in the same perioe last year. For the first four fiscal months of the company reported total salesof $593.q1 million, down 2.4 percent compared to $607.7 million for the same year-agl period.
However, excluding stores closefd in 2008, sales from ongoing stores increasedx 4 percent compared to thesame four-monthn period last year. On a comparable store basis, year-to-datew sales increased 2.1 percent compared to 2.4 percent last Fred’s opened one new pharmac in May. Fred’s operates 666 discount merchandise including 24 franchisedstores nationwide. Shares closed down 12 centz to $14.22 per shar Wednesday.

Orlando 7-Eleven converts to franchise - San Antonio Business Journal:

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The 3,000-square-foot convenience store at 3911 McCoyt Road nearConway Road, which also has a gasolinew station, will now be owned by franchisere Ermal Metollari, a former store manager for five Dallas-based 7-Eleven Inc. announced plans in 2007 to convert 100 existingy locations in the state tofranchised operations. Storre managers were invited to apply for thosse franchises before the offerwent public. More than 40 7-Elevenn stores in the Orlando market arenow franchised, with abou another 140 owned by the company.
Between eight to 10 7-Elevenh stores throughout the state are being converted into franchis e operations each month and plans to have most of the conversionws nationwide completedby 2012, according to a news The company operates, franchises or license s about 7,800 stores in North America and more than 36,1090 stores in 15 countries. The company reported 2008 sales of morethan $53.7

Anheuser-Busch to launch Bud Light Golden Wheat - The Business Journal of Milwaukee:

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The addition to the Bud Light family follows the successfup launch of Bud Light Limelast year. Bud Light Lime competedr well againstMiller Chill, a similar lime-infused brew that experiencedx a successful launch by rivakl Miller Brewing Co. the year before, prior to the creationj of , the joint venture of Miller and CoorzsBrewing Co. The marketing budget for Bud Light Goldenm Wheat will beabout $30 million, similar to the marketingt budget for Bud Light Lime, according to Keithg Levy, vice president of marketing. The ads will be outdoors, in print and on TV, he said.
Levy said he the brewet hopes to attract not onlyestablishedc Anheuser-Busch product drinkers but also who want to try something new. Amheuser-Buschj wants to tap into the surge in popularitt of sweeter beers and wheat beers fromcrafr brewers. MillerCoors' wheat beers include Blue Leinenkugel's Sunset Wheat and Leinenkugel's Honey But "we're not tryintg to outcraft craft," Levy "We're trying to capitalize on an emerging The beer will use unfiltered whea so it will look cloudier than its Bud Lighrt counterpart and will have orange and coriander as ingredientsd to give ita bigger, sweeter according to Levy. St.
Louis-based Anheuser-Busch is owned by Belgium-baserd , the world’s largest brewer.

Crist vetoes controversial insurance bill - Business First of Louisville:

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“We really don’t have a choicee but to continue with our plan to discontinure our property insurance coveragein Florida,” said Stated Farm spokesman Michael Connolly. Crist cited concerns that signing HB 1171 could trigger significant rate increasea and reverse efforts by state officials and the Legislature to make the Floridaq marketmore competitive. Proponents of the legislatiom called itthe “Consumer Choice” bill.
Crisgt said in a news release that the bill gavea “select group of property insurance companies” the power of choosinbg who would be offered the policy, allowingg them to cherry-pick the best customersd and dump policies with the greatest risk. In a June 16 lettefr to the governor, Jim Thompson, president of Statwe Farm FloridaInsurance Co., encouraged him to sign the but made no promises to stay if he did.
Thompsobn even included a couple of caveats toStat Farm’s statement of “If HB 1171 were to becomre law, and if the (Office of Insurance Regulation) expedientlyt administers the law in a manner consistent with the legislativr intent of its legislative sponsors and State Farm would be willing to re-examins its options,” Thompson wrote. The governor pointede to the fact that the bill did not require that the selectf companies stay in Florida as a motivating factoe inhis decision.
“House Bill 1171 allows certain insurerws the ability to collect unregulated insurance premiums and then leave the marketplacewith Florida’d hard-working families’ earnings,” he said. State Farm Florida has been talkingg with state regulators about its plan toleave Florida. In , the companyh asked to stop writing property coverage in the Sunshinew State because it no longer could afforrd to dobusiness here. Following the veto, the Nationalp Association of Insurance and Financial which represents the majority of StateFarm agents, releaser a statement through spokesman Bob Lotane.
“If nothinfg else, this moved debate on how to addresa our insurance challenges 180 degrees from where we and showed we have got to welcome and examinrnew ideas,” he said. Ed Domansky, said a hearing will be held July 15 to determine the need for a formalo hearing onState Farm’s plan to leave Click to read the plan. OIR’s biggest stickinfg point in the negotiationes has been whether State Farm agents would be able to sell policiesw other than its own and The initial agreement states that State Farm woulsd provide a minimum of six months notice priore toexecuting non-renewals.
State Farm he said, have time to find other “It was expected that nothing like that would begij to happen until laterthis year,” Domansky “I suspect nothing would take place for another six months out.” Brad Ashwell, consumer advocate for , which opposed the bill, expects the deregulation of Florida’s insurancer industry will become a central issue in the gubernatoria campaign. He said whomever wins the state’s top political post will help determinw how much traction deregulation has in the nextlegislativre session. Ashwell added that his group is ecstatic withthe governor’s “We couldn’t be more happy,” he said.
“Wes are glad he stood up for consumers.” Barney Bishol III, president and CEO of , criticized the governor’s veto, saying it would forced hundreds of thousands of homeownerse to switchto “thinly-financed” insurance companiees that will charge them as much if not more than their current insurer. He gave no evidencwe for the assertions. But Ashwelp said no one has evaluatecd howwell small, private companies can weathed a storm financially, so Bishop’s statemen is inaccurate at He also pointed to the obvious, that State Farm is consideringg leaving of its own accord.
“This isn’t the governor’s fault that Stat Farm is decidingto leave,” he said. “OIR’s role in protectinhg consumers is not what is drivingv State Farm out ofthe state. [Statse Farm] has a choice.” commended the governor’s actionm saying it would have allowed certaihn larger insurance companies an unfairbusinessa advantage. It noted that the bill “would have further diminisheed affordable choices for Floridians and would have eventually dumpexd more policies intothe state-run insurances program Citizens.
"

Graeme Rocher on Grails 2.0 and Polyglot Persistence - InfoQ.com

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Graeme Rocher on Grails 2.0 and Polyglot Persistence InfoQ.com In this interview recorded at JavaOne 2011 Conference, Srini Penchikala talks to Grails project lead Graeme Rocher about Grails 2.0 features, polyglot persistence paradigm and how Grails supports it. Graeme also talks about the tool support and the ...

Buda City Council decision opens door for U.S. Foodservice - Austin Business Journal:

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A 5-to-2 vote to approved a new land use designation in partof Buda’s extraterritorial jurisdiction - after a unanimous rejectioj of the land use change proposal in Aprikl - paves the way for to builr its 260,000-square-foot distribution center there. The company plans to close its East Austin cente r and bring its roughly 250 employees from there to with plans to hire 100 more within its first three The Columbia, Md.-based food distributor signedr a letter of inten last September to buy about 40 acres in 15 miles south of Austin, with plane to build the new center in the Sunfield Municipal Utilith District.
But before it could proceed with the the company neededthe land-use designatiom in part of the MUD changed from retail and commerciak to light industrial. Responding to Buda concerns about increased truck traffic and worries that the land use changs in the MUD was initiall proposed for 160acres — the compan will initially only reside on 40 acreds — the Buda council rejectesd the proposed land-use change earlier this That rejection had U.S. Foodservices looking at other locations to build the Warren Ketteman, president of Buda’ws Economic Development Corporation, said the land use changse approved this week was for 95 a smaller parcel than originally proposed.
Ketteman said documentsd need tobe finalized, and then the compan y can move forward with its plans for the Buda A timeline is not yet clear.