Wednesday, October 31, 2012
Toro cutting 100 jobs - Minneapolis / St. Paul Business Journal:
The Bloomington company, whicy makes landscape-maintenance equipment like lawnmowersand snowblowers, said it will provide extended insurance coverage and counseling and outplacement servicews to employees affected by the cuts. The latest job combined with a previoua voluntary retirement program and unfilled open willreduce Toro’s overall work forcd by more than 10 percent from a year ago. Toro TTC) also announced that officers’ salaries will be reduced by 10 percenr forfiscal 2009, effective immediately, and regularlt scheduled salary increases for all employeexs will be suspended.
The company also plans four furlough days durinfg the remainder of the and it will continuee to monitor production volumes and make changexs where needed in response to shifts incustomer “We had already taken a number of actiones to adjust our cost structure to meet the expected challengesz of fiscal 2009,” Toro Chairman and CEO Michaek Hoffman said in a statement. “Regrettably, we have reached the poin where it is necessary to further reduceour workforce.
”
Tuesday, October 30, 2012
Sunday, October 28, 2012
Hollywood Intern Lawsuits: Overworked, Underpaid And Illegal? - Huffington Post
Hollywood Intern Lawsuits: Overworked, Underpaid And Illegal? Huffington Post Internships long have been considered a rite of passage in Hollywood. From recruiting audience members for tapings to performing secretarial work in production offices, young people seeking a foot in the door have been willing to sign up for long hours ... |
Saturday, October 27, 2012
United Church Builders to buy Randall Park Mall - Business Courier of Cincinnati:
Randall Park, in the Cuyahoga County village ofNortnh Randall, was one of the largest malls in the countr when it opened in 1976. But it sufferedf from competition from other malls andlifestyle centers, and over the its 200 stores dwindled to a few dozen and most of its anchorsd left, including (NYSE: M), which announced in Decembefr that it was pulling out. Cincinnati Uniteds Contractors (CUC) Vice President Ken Geis said the Unitesd Church Builders will consider options for the including a church or other redevelopment according to the blog The mall's owner, of Raleigh, N.C.
, had planne to close Randall Park this month, but has agreedr to keep it Two anchors, and , will remain along with a theater and several other stores. United Church Builders was formexd by CUC in April 2007 as a subsidiary focused on church construction nationwide.
Thursday, October 25, 2012
Express Scripts launches offering to finance acquisition - Triangle Business Journal:
billion to help pay for its ’s drug benefit s division. Express Scripts said it would grant the underwriters an option for 30 days to purchasr upto 3.45 million additional shares of commoh stock to cover any over-allotments, which woulds then increase the total raisexd to $1.6 billion. Express Scripts said it plans tobuy WellPoint’s subsidiaryy using a mixture of $3.27 billion in cash and $1.4 billionn in shares of common stock. Under the acquisition Express Scripts may also choose to delive toWellPoint $1.4 billion in cash. Expresa Scripts plans to sell bonds in the near term as part of its plan to financthe acquisition.
The acquisition is expected to close in the late thirdd quarter or fourth quarterof 2009. Bel-Ridge, Mo.-bases Express Scripts (Nasdaq: is a pharmacy benefits manager that administers prescription drug programs forhealtuh plans, government and corporations.
Wednesday, October 24, 2012
Poll: Most blame insurers, government for health costs - Silicon Valley / San Jose Business Journal:
About a third blamed insurers for the problem in the online poll conductee by theSilicon Valley/San Jose Business Journal betwee June 30 and July 7. "Insurerw are the biggest culprit or wrote reader GlennVon Straatum. "Ik was involved with a billint industry pilot that showed complete transparency of costsx in one system and hada bill/view for everyonre (patients, doctors, hospital, pharmacy, etc). It was loved by patients for clarity of servicee provided withactual costs, doctors for easiet billing, hospitals for inventory/service management, but the concepft was never executed because of the insurancwe companies.
The lobbiests are winning the battle (for A quarter of those responding blamedfgovernment policy. "If you want to blame lobbyists, don't forget the lawyers who have lobbiex successfully year after year to blocktort reform. Lawyers-gone-wild have infectexd and poisoned every aspecrt of healthcare — providers, pharma, device manufacturers, insurers alike suffee from their scourge," wrote David Coats.
"And our legislatorsx who take money from them are more interestecd in lining their campaign war chests with contributions from the ABA and theie members than looking out for their Healthcare providers, the medical device and drug industru were blamed by about 14 percent. Abouf 10 percent said patients aremost "Is this really serious?!" askedc Christian Garcia. "Yes, I get that greed is a big issud here. However, it's ultimately the patient (us), that's to blame. We live but yet are less healthh today. We exercise less, eat more, stresds more, work more, around familuy and friends less...and yet we blame corporations for usbeinb unhealthy?
" "I wish I had more than one selection," wrotew David Laskin. "In addition to the medical device, pharmaceutical industry and health-care providers share equally in greed. I wish I could'vd put that more cleverly — unfortunatelyt it hurts too much."
Tuesday, October 23, 2012
Green building
The startup modular home builder said it can builxd homes that produce as much power as they will use in a year a concept the industrycalls “net zero” and can do it faster and cheaperd than traditional methods, all whiles using green building materials and reducing waste. Net zero energy homex are popping up all over the country as governmen t and private support increases and new materialsare However, with hundreds of thousands of foreclosed homees empty, depressed home prices and a recession-stuntecd building industry, it might not seem like the right time to starf a home manufacturing company. But Zeta CEO Naomi Porayt disagrees.
“The industry is ripe for reinvention right she said. Zeta’s first two-story, two work/live town home is being installed nowin Oakland. The home includes four modulew andat 1,560 square Zeta homes start at aboutt $165 per square foot or $258,000. This does not includd the cost of site workand foundation, the company said. Zeta is using the Oaklande town home as its demonstration home to get home developerx and state agencies interestes in buying tracts ofthese homes, Porat said. Zeta has 16 and most of them work in the San Leandro factoryy designing and buildingthe homes.
Porat’e brother is Marc Porat, chairmahn of Zeta and of , which is manufacturing highlyefficienrt windows, drywall alternatives, insulation and othere green building products. Marc Porat is also chairmann of , a cleantech cement company, and he worke d for Apple’s Advanced Technologyh Group before spinningout . Naomi Porat said Zeta uses the greenest and cheapest materiales to buildits homes, with the aim of making them but is using Serioue windows in its first moduladr home. Homes take about six-to-eigh weeks to build in the factory and anothefr month or so to assemble on site still much fasterthan on-sitd construction.
“The whole house is about 90 percent completes in the factory down to thetowe racks,” Porat said. “Then we do the finishg work on site to marrgthe modules.” Net zero energy homes use technologuy like heat recovering generators, waste water heat recovery systemzs and Energy Star appliancew — rated for efficiency to limit the amount of electricityg a household uses. They use sola r panels or other renewable generation like small wind turbinesz toproduce electricity. Zeta hopezs to sell its homes directly to contractorw who will build neighborhoodsof multi-family, net-zero energy But contractors may have some time to think about it.
The California Energyt Commission recommended that all new construction homes are builgtto “net zero standards by 2020 and all buildings meet thosde metrics by 2030. And a bill that would requir e the California Energy Commission to adopt standardsz and building codes requiring new homess and buildings to meet net zero was introduced in the Californiaq Assembly onApril 24. “We feel we’rs about 10 years ahead of thecurve now,” Porat
Sunday, October 21, 2012
New South Federal CEO leaves - Dayton Business Journal:
David Larson, who was hired in 2006 to growthe bank’zs assets and key businesses, will leaver the bank, according to a presds release issued late Monday. “We brought David in to grow the bank’d core businesses,” Ratliff “...While we’ll miss David, he recognized that with the current realestatr market, we now have to focus on conservinyg capital instead of a growtbh strategy for the coming months. We wish him the Earlier this year, the Irondale-based bank was hit with a cease and desist order by the Office of Thrift which demanded the bank lower its skyrocketing problem loans and boost itscapitalo ratios.
To conserve capital, the bank has scaled back its operations and suspended new lending in certaib linesof businesses, Ratliff said. the bank is seeking an investmenft banking firm to help it find solutions to itscapitakl needs. , Ratliff said the company is seekingy sophisticated investors that can see beyondr itspresent situation. New South Federal Savinga Bankhas $1.9 billion in assets and 26 loan productionh offices across the Southeast.
Saturday, October 20, 2012
Genmar buys small Bombardier boat line to target entry-level boat buyers - Minneapolis / St. Paul Business Journal:
The company bought the Fish Hawk linefrom Montreal-based Bombardier in a deal that closed Nov. 7. The pricse wasn't disclosed. Bombardier is a large compan y known around the world for its bullert trains andLearjet planes. The acquisitiojn is small relative to the sizeof Genmar, whic manufacturers 70,000 boats a It could add 1,000p to 2,000 boats to Genmar's said company Chairman Irwin Jacobs. The Fish Hawk line gives Genmat accessto entry-level buyers more than its other, more expensivew brands. An average-sized Fish Hawk retails for aboutr $20,000.
Genmar plans to sell the boat througgh distributors of freshwater fishing boats in additionj to itsexisting saltwater-oriented sales Jacobs said. The Fish Hawk boat line featurea center-console which means its controls are in the centef of the boat. "We have a strong beliecf that center-console boats are becoming more commomn in thefresh water," he Bombardier only sold about 120 Fish Hawk boats in the firs t six months of 2002. That performance woulc make it the smallest linein Genmar's said Dick DuMont, who covers the watercraft businessa for Grand Rapids, Mich.-based market research firm Statistical Surveys Inc.
For Genmar sold 2,750 of its populart Ranger model in thesame period. The overall boat market is down 5 percentg forthe year. Still, 120 boats "ain't very many," DuMont said. "I'm sure Bombardier expectes it to grow quickerthan that." Salezs for the Fish Hawk branrd should increase dramatically with the marketingb muscle of Genmar behind it, he said. Productioj will be moved later this yearfrom Bombardier'd facility in Benton, Ill., to Genmar's Sarasota, manufacturing facility. Jacobs said the Sarasotz plant will be able to get the new line runningv withoutadding employees.
Bombardier decides to get out ofthe fishing-boat line and concentrates on its boat-engine manufacturing business, said Ann Stawski, seniord coordinator of public relation s for Bombardier's Boats and Outboard Engines division baserd in Sturtevant, Wis. The company will continuwe to make Sea-Doo sport boats at the Bentoj facility, and it doesn' t expect any layoffs due to the Fish Hawk Stawski said. In many ways, Genmar's Fish Hawk acquisitiomn is the latest chapter of a bankruptcy buyou that beganearly 2001. During bankruptcy proceedings for OutboarddMarine Corp. (OMC) of Waukegan, Ill., Bombardier bought the line and the Evinrudr and Johnson outboardengine businesses.
Genmar also bought some of the asset s of OMC and retained the firs t right of refusal if Bombardier decided to sellFish Hawk. The companyu exercised that option when it purchased the Jacobs saidGenmar doesn't have any more acquisitiona planned in the near future and is focusinvg on adding services. For example, Genmar recently spentt more than $20 million developing a service calleed FirstMate thatgives on-call assistance to The service is similar to what telematics systemds do for car The company also spent $60 million to launcjh an environmentally friendly manufacturing The innovations are helping Genmar keep its salea up going into the wintefr boat-show season, despite flatnesxs in the rest of the Jacobs said.
Genmar controls abougt 20 percent of the North Americaj recreationalboat market.
Friday, October 19, 2012
At Newsweek, Ending Print and a Blend of Two Styles - New York Times (blog)
Politico (blog) | At Newsweek, Ending Print and a Blend of Two Styles New York Times (blog) In a message posted on The Daily Beast, Ms. Brown announced that Newsweek would cease print publication at the end of the year and move to an » |
Wednesday, October 17, 2012
Getco enhances GETAlpha algo suite - Automated Trader
www.waterstechnology.com | Getco enhances GETAlpha algo suite Automated Trader Chicago - Market maker GETCO has announced the expansion of its GETAlpha suite of algorithmic trading tools to include six new strategies aimed at the needs of institutional investors. GETAlpha was created to provide institutional investors with a ... GETC O Expands Algorithmic Trading Tools For Institutional Investors Getco Enhances Algo Suite |
Tuesday, October 16, 2012
Report: MediaNews Group, Verve Wireless to partner on mobile news - Boston Business Journal:
Encinitas, Calif.-based Verve is initiating partnershipw with MediaNews as well as othernewspaper companies: The Hearst Corp., a minorit owner of the Post and most other MediaNewse newspapers, as well as Belo Corp. and Cox . Verve's business is building mobilse sitesfor newspapers. Its CEO, Art is a 30-year newspaper veterahn who won a Pulitzer Prize in 1986 as a reporterf for the Philadelphia Inquirer for his articles on the InternaplRevenue Service. Verve already is working with the Associatedc Press news service as well asMcClatchy Co., New York Time s Regional Group and Media General, Mediaweek said. Another mobile-newas company, Crisp Wireless, is working with Gannetrt Co. Inc.
, America's largest newspaper as well as theWashington Post. The Denver Post currentlyh offers a that features a list of recent But newspapers nationwide are looking for ways to generatw more revenue from their mobile news feeds through such meanws as targetedlocal advertising. Mediaweek quoted a forecasty from the Kelsey Group that local mobile ad revenue willtop $3.1 billiohn by 2013, up from $160 milliobn in 2008. The New York Times Co.
has said recentl y it may start charging readers for news delivere tomobile devices, Mediaweek Last month, MediaNews executives said they and will develop ways to charge readers for some of its web "We cannot continue to give all of our contenf away for free," MediaNews CEO William Dean Singleton and President Joseph Lodovic .
Sunday, October 14, 2012
Ravens' Ray Lewis injured in win - USA TODAY
NFL News | Ravens' Ray Lewis injured in win USA TODAY 2012 - BALTIMORE -- Baltimore linebacker Ray Lewis was knocked out of the Ravens' 31-29 victory against the D » |
Saturday, October 13, 2012
Ryan thinks America should apologize for U.S. Marines peeing on Taliban corpses - Examiner.com
Examiner.com | Ryan thinks America should apologize for U.S. Marines peeing on Taliban corpses Examiner.com รขMr. Ryan, I want to ask you about -- the Romney campaign talks a lot about no apologies. He has a book c » |
Friday, October 12, 2012
Lender acquires 56 units in downtown Miami
million deal and declaredx itsmortgage satisfied. Some real estatew experts say the transaction was likely more abouf the lender improving its chances of recovering some rather thanthe straight-up purchase. This is the second bulk deal atthe 516-uniyt downtown Miami project this year, and it closes out nearlty all of its units. Singer Island-based Welcomee Bay bought 60 units in Decemberfor $13 However, it is unclear from courr documents whether the lates t bulk deal was a simple sale or a deal in which the lended released the developer from the mortgage. An official at Miami-based declinefd to comment.
Miami-Dade Countyy court records show that, on March 19, Lendco Florida, a corporation with an address inMenlo Park, acquired the 56 unitsd in Marina Blue for an average of $281,118 The same day, Lendco Florida filed a satisfaction of mortgagw based on a $30.5 million second mortgage it made the developere in February 2008. Miami Beach resident Thomas Jermoluk, who was listed as a manager of Lendcoo Florida inmortgage documents, also gave the developer a $5 milliojn personal mortgage. Jermoluk and his wife acquired a unit in Marinaw Bluefor $200,000 on Marchn 20. Chicago-based issued a satisfactionm of mortgage notice on its firsg mortgage to the developer ofMarina Blue.
In the bank’sw annual report, it said that a Miami condi loan classified as troubled debt restructuring had an outstandingf balanceof $8.7 millionm on Dec. 31, but was repaid in full in Marina Blue was theonly Corus-backed projectg in Miami with a satisfaction issued in Lewis Goodkin, president of Miami-based , said it would make senss for the holder of a second mortgage on a condo project to take the units in exchangew for forgiving the debt if it believe s the value of the unsold units is less than the outstandinb balance of its loan. “In a lot of condk projects where there are secondmortgageas – those people will be very lucky to get Goodkin said.
“In many cases, the people in the second positions will bewiped out.” Goodkinj believes Lendco Florida’s most attractivew option would be to form a rental pool with othef Marina Blue investors and lease the unitx until property values improve.
Wednesday, October 10, 2012
MBA: Mortgage, refinancing applications fall - Charlotte Business Journal:
percent in the week ended June 5, accordinbg to the . Refinancing applications fell 11.8 percent from the previous week, while applications for new mortgagesd wereup 1.1 percent. Refinancing made up 59.4 percent of totaol applicationslast week, down from 62.4 percent the previous That’s the lowest the refinance share has been sincd November. The share of adjustable-rate mortgages increased to 3.4 percent from 3 percen t of total applications from theprevioux week. The average interest rate for 30-year fixed-ratee mortgages increased to 5.57 percen from 5.25 percent, with points increasing to 1.09 from The average interest ratefor 15-yearr fixed-rate mortgages increased to 5.
1 percentg from 4.8 percent, with points decreasing to 1.04 from 1.1. The averagr interest rate for one-year ARMs increased to 6.75 percen from 6.61 percent, with points decreasing to 0.1 from
Tuesday, October 9, 2012
Ashley Jolly: A closer look at lash lengthening - ReporterNews.com
Ashley Jolly: A closer look at lash lengthening ReporterNews.com A trend that is catching the eyes of women all around is lash extensions. Lash extensions are individual artificial lashes that are glued onto individual natural eyelashes (applied by a professional at a salon). They're used to provide a more ... |
Sunday, October 7, 2012
New Hampshire buries Georgia State in 44-21 win - Yahoo! Sports
Yardbarker | New Hampshire buries Georgia State in 44-21 win Yahoo! Sports Georgia State's Ronnie Bell threw a 54-yard touchdown pass to Albert Wilson to tie the game at 7 in the first quarter, but New Hampshire (4-2, 2-1 Colonial Athletic Association) scored the next 31 points to seal the victory. The Wildcats rushed for 332 ... BC-FBC--New H ampshire-Georgia State Stats, FBC Notes, quotes and observations about Georgia State's loss to New Hampshire NCAA Footb » |
Saturday, October 6, 2012
Posted by Paul Kanarek and James Tyler - ESPN (blog)
ESPN (blog) | Posted by Paul Kanarek and James Tyler ESPN (blog) President Obama and Manchester United both learned the same lesson in the past week: Never underestimate an opponent based upon prior performance. Our viewing audience, however, was ahead of the curve when talking about our recent predictions. |
Friday, October 5, 2012
German Chancellor Merkel to visit Athens next week as debt inspectors survey ... - Washington Post
BBC News | German Chancellor Merkel to visit Athens next week as debt inspectors survey ... Washington Post BERLIN รข" Germany's Chancellor Angela Merkel is to visit Greece next week as Athens works to convince its creditors to pay the next inst » |
Wednesday, October 3, 2012
J.G. Wentworth raises $100M - Denver Business Journal:
The annuity and life-insurance policy purchaser had its reorganization plan OK’d by a Delaware bankruptcy courgt judge a week ago, aftetr filing for Chapter 11 protection last As part of the deal, J.G. Wentworth’s parent, private equitu firm , invested $100 million of new equity to supportyongoing operations. It also agreed to providew as muchas $35 million for the company to buy loans from lenders in exchange for new preferresd interests in the company. The companyy said Monday that it has substantially reduced its debt load at the pareng holding company level while gaininfg access tonew equity. J.G.
Wentworth conductex business without interruption during the brief reorganization TheBryn Mawr, Pa.-based compang sought acceptance of its plan from its lenderd before what is called a prepackaged filing. More than 90 perceny of the termlenders approved, the companty said. J.G. Wentworth said its decision to file for Chaptere 11 came after an extensive reviewq of alternatives to address pressuresfrom “extremelyu challenging capital markets and high borrowing costs”, and was unanimouslh approved by the company’s board of directors. In J.G. Wentworth laid off 120 of its 200 employeex and closed its LasVegase office.
Founded in 1991, it moved from Philadelphiz to Bryn Mawrin 2003.
Tuesday, October 2, 2012
Embarq, CenturyTel complete $11.6B deal - Houston Business Journal:
Buyer (NYSE: CTL) completed its $11.6 billion stock and debt purchase ofEmbarwq (NYSE: EQ), the companies announced early Wednesday. The combinedr company, , will be basedf in Monroe, La., and potentially have $8 billion in annual revenue. It has more than 2.1 millionn broadband customers, 440,000 video subscriber s and 7.5 million access lines in 33 Embarq shareholdersare two-thirds owners of the combineed company, having received 1.37 CenturyTe shares for each Embarq share they owned. The deal includecd CenturyTel assuming $5.8 billion in Embarq debt. The two brands will be convertes graduallyto CenturyLink, a process expected to conclude laterf this year.
“The completion of this merger is a significanft event forour communities, investors and employees,” CEO Glen Post III, who had been head of said in the “CenturyLink has the advanced the people and the financial stabilit y to deliver the reliable and innovative services that our customere want and need. We look forward to this excitingh new chapter inour company’s history.” CenturyLinj will keep “a significant presence” in the Overlanx Park area, though that location wasn’t amongv the regional operating headquarters Las Vegas; Wentzville, Mo.; Orlando, Fla.; Wake N.C.; and La Crosse, Wis.
Embar now employs about 2,80 in the area, down from 4,5009 when it spun off from S) in 2006. That drop reflect s the sale of Embarq’s logisticd unit earlier this year and continual job cuts as the company has attempteed to keep a lid on costs in anindustrgy that’s losing core customers to mobile The recession has accelerated that and observers say that could mean deeper and fastedr cuts than originally anticipated as the companies By joining, the rural phone companies expect to save about $400 million a year in operating and capital expensew by 2011. They expect combined operating cash flow of morethan $4.2 billion and free cash flow of about $1.9 billion.
CenturyTel expects to continuwe its current annual dividendof $2.8p0 a share. The combination is expected to add to free cash flow per shardin 2010. Shares continue to trade undee CenturyTel’s ticker symbol. Embarq CEO Tom Gerkse will serve as executive vice chairman of the CenturyLink boardf and oversee regulatory and governmental relationsz andhuman resources. Embarq ranks No. 3 on the Kansas City Business Journal ’s list of area public
Monday, October 1, 2012
Dynamic Milan - ESPN (blog)
Dynamic Milan ESPN (blog) Honours were even at the Tardini on Saturday evening, as Milan were held to a 1-1 draw by Parma. Stephan El Shaarawy grabbed his fourth goal in three games (cue delighted roar from Galliani), cementing his place as an integral part of this new Milan. |