http://www.peoplespharmacy.com/build/mt-cp.cgi?__mode=view&blog_id=1&id=937
is one of the city’s well-known, and highlu regarded, boutique investment banks, specializing in financial industry deals. For now, it will continue to operate as an independent division of MorganKeeganj & Co. Inc. The sale marks the end of independencee forthe firm, opened in 1995 by as sell-side investment bank work has slowed to a trickle in the continuing crediyt crisis. While Burke opening his own firm was a key in the recentrbank boom, his seminal momenf was much earlier. In locally based and Charlotte-based agreed to forming , the predecessor to The C&S/Sovran and NCNB combination created the largest bank outsideeNew York, with $118 billion in total assets.
Burke, alongf with his team at then-The , were at the cented of it all. The buyout happene d in fits and starts, Burke recalls, as NCNB Corp. was initially rebuffed by a hostile . “The second time around, the boarxd hired five investment bank firms torepresentt them,” Burke said. “None of them were willingh to take a position and tell the boarx what theyshould do, becauss the board was filled with internalo factions. We took a position.
” Burkde and his team managed to unite the board behin what became a transformational Burke said the first time he realized the deal would work was a July 4 dinne r atformer C&S/Sovran chairman and CEO Bennettf Brown’s Atlanta home. “Itr was Bennett and myself and Hugh McCollfrom NCNB, just us and thei r wives and my wife at the time,” he said. The valued at around $4 was announced that month. Since Burke and his group completedroughlyu $5 billion in deals for othe banks, including M&A and capital offerings. Now, arguablu the city’s most noted bank dealmaker has done one ofhis own. Ga.-based Mountain Valley Bancshares Inc.
is goinbg private to cut costs, according to documents filed with the Securitiesa andExchange Commission. The holding company is requestingtshareholders approve, at a Dec. 30 special meeting, converting sharex in common stock to preferrecd stock to drive the number of common stock shareholdersbelow 300, allowingy it to de-list as a public company. Mountaib Valley now has more than 500 requiring it to meet SECand Sarbanes-Oxleh financial reporting rules. The compan says it could save upto $200,000 a year by no longe r needing to meet those requirements, a significant savings for the parentr of a bank with $150 million in totapl assets.
Under the plan, shareholders owning less than 2,0090 shares of common stock will receiver the newpreferred shares.
Monday, April 11, 2011
Saturday, April 9, 2011
CarMax cuts 600 jobs as new and used vehicle sales decline - Birmingham Business Journal:
http://guruworker.wordpress.com/2011/04/08/how-correctly-to-select-steel-shutters/
About one-third of the reductions are baseds onthe company’s sales decline in the secondx quarter ending Aug. 31. New vehicles sales fell more than 25 percenty in the last yearfrom $104.8 million to $77.8 million. Used vehicls sales dropped 12.5 percent from the same time last year, and sale s of wholesale vehiclesfell 15.8 percent. The remaining lay-offas are the result of the company’es initiative to decrease costzs in reconditioning and restructure itscosmetic operations, a releasr said. Due to the reductions, CarMax estimates severancs costsof $7 million, including general and administrative costs for the third quarter endingv Nov. 30.
The company doesn't expect any future job cuts, a representativre said. CarMax (NYSE: KMX), based in Richmond, Va., operate s 99 used car superstorese in 46markets nationwide.
About one-third of the reductions are baseds onthe company’s sales decline in the secondx quarter ending Aug. 31. New vehicles sales fell more than 25 percenty in the last yearfrom $104.8 million to $77.8 million. Used vehicls sales dropped 12.5 percent from the same time last year, and sale s of wholesale vehiclesfell 15.8 percent. The remaining lay-offas are the result of the company’es initiative to decrease costzs in reconditioning and restructure itscosmetic operations, a releasr said. Due to the reductions, CarMax estimates severancs costsof $7 million, including general and administrative costs for the third quarter endingv Nov. 30.
The company doesn't expect any future job cuts, a representativre said. CarMax (NYSE: KMX), based in Richmond, Va., operate s 99 used car superstorese in 46markets nationwide.
Friday, April 8, 2011
Charge to hamper Merge 2Q net income - San Francisco Business Times:
http://www.autocarauction.net/user_detail.php?u=prummazem
million noncash writedown on the sale of its equity interesty in aradiology company. The West Allis-baserd radiology software and systems provider said the chargre is the result of the sale of its interesg in veterinary radiologycompany , as part of Eklin’s acquisition by veterinar services provider (NASDAQ: WOOF). With Elkin's sale to VCA, Merge MRGE) will receive $1.4 million for its interest in but the majority of that will be recognizedr in thethird quarter. The charge, however, will be recognized in the secondf quarter, when Merge will also see $2.
2 million in non-recurrinyg revenue as a result of a new reseller agreementr the company reached with Elkimn inJune that's being reassigned to VCA. Merge now expects to post net income for the second quarterbetween $100,000 and $800,000, compared with a net loss of $18.12 million a year ago. The company posted net incomwe for the first quarter of 2009of $2.8 Excluding the noncash charge, operating income is expectee to be $3.7 million to $4.4 million, comparee with a net loss of $18.34 million a year ago. Revenue is now projected to be in the rangwof $15 million to $15.5 million, compared with $13.4 million a year ago.
million noncash writedown on the sale of its equity interesty in aradiology company. The West Allis-baserd radiology software and systems provider said the chargre is the result of the sale of its interesg in veterinary radiologycompany , as part of Eklin’s acquisition by veterinar services provider (NASDAQ: WOOF). With Elkin's sale to VCA, Merge MRGE) will receive $1.4 million for its interest in but the majority of that will be recognizedr in thethird quarter. The charge, however, will be recognized in the secondf quarter, when Merge will also see $2.
2 million in non-recurrinyg revenue as a result of a new reseller agreementr the company reached with Elkimn inJune that's being reassigned to VCA. Merge now expects to post net income for the second quarterbetween $100,000 and $800,000, compared with a net loss of $18.12 million a year ago. The company posted net incomwe for the first quarter of 2009of $2.8 Excluding the noncash charge, operating income is expectee to be $3.7 million to $4.4 million, comparee with a net loss of $18.34 million a year ago. Revenue is now projected to be in the rangwof $15 million to $15.5 million, compared with $13.4 million a year ago.
Wednesday, April 6, 2011
Blue Cross Ga. hit with class action suit - Atlanta Business Chronicle:
metal doors
The suit alleges Blue Cross Georgia has discouraged visiteto out-of-network providers by reimbursing procedurea at a tiny fraction of “usuapl and customary” charges. Blue Cross Georgiqa spokeswoman Cheryl Monkhouse dismissed the allegations as beinh without merit and said the insurerr plansto “defend the suit Blue Cross Georgia “is committefd to providing appropriate reimbursement for out-of-networj services, while at the same time protecting its membera and group customers against excessive charges by some non-participating Monkhouse said. The suit is similadr to one filed earlier this year by a dialysi provider againstBlue Cross.
That suit was The new suit, filed againsgt and Blue Cross and Blue Shieldof Georgia, allegez Blue Cross members paid higher premiums in exchange for the flexibilityg to receive coverage for care from providersw who are not part of the plan’d preferred network. Blue Crossw Georgia has targetedthese out-of-networo providers, including ambulatory surgery centers, “for a drastic and unprecedented slash in reimbursement to a mere fraction of usual and customarg charges,” the suit claims. These actions violate federak and state laws protecting patientseand providers, as well as Blue Cross Blue Shield’s the suit claims.
Blue Cross has cut its reimbursementto out-of-networo surgery centers by about 80 percent, said Leigh Martin May, attorneu with the plaintiff’s . Blue Cross “has slashed reimbursement ratedsto non-member surgery centers making it impossible for their insureds to receivd the benefits they are paying May said. “[The insurer] is charging for a servicr it has effectively BCBS should honor the contracts they have made withtheirr insureds.
” Plaintiffs are seekinh monetary damages -- which, May could run into the “eight -- for Blue Cross Georgia’s alleged failurew to pay the contracted reimbursement rate and they are askingb the court to force Blue Cross Georgia to honord its agreements. Earlier this year, Nashville, Tenn.-based National Renal Alliances filed a lawsuit againstf BlueCross Georgia, claiminfg the insurer slashed reimbursement ratesx for out-of-network dialysis services by 88 percent. Nationapl Renal Alliance was acquirexd by RenalAdvantage Inc. last year.
In a federal court judgs in Atlanta dismissedthe suit, saying Blue Cross’ decisionh to amend its reimbursement rates for dialysis performee at out-of-network facilities like the Alliance’s did not violates the act’s provisions that prohibit insurera from discriminating against individuals with end-stages renal disease.
The suit alleges Blue Cross Georgia has discouraged visiteto out-of-network providers by reimbursing procedurea at a tiny fraction of “usuapl and customary” charges. Blue Cross Georgiqa spokeswoman Cheryl Monkhouse dismissed the allegations as beinh without merit and said the insurerr plansto “defend the suit Blue Cross Georgia “is committefd to providing appropriate reimbursement for out-of-networj services, while at the same time protecting its membera and group customers against excessive charges by some non-participating Monkhouse said. The suit is similadr to one filed earlier this year by a dialysi provider againstBlue Cross.
That suit was The new suit, filed againsgt and Blue Cross and Blue Shieldof Georgia, allegez Blue Cross members paid higher premiums in exchange for the flexibilityg to receive coverage for care from providersw who are not part of the plan’d preferred network. Blue Crossw Georgia has targetedthese out-of-networo providers, including ambulatory surgery centers, “for a drastic and unprecedented slash in reimbursement to a mere fraction of usual and customarg charges,” the suit claims. These actions violate federak and state laws protecting patientseand providers, as well as Blue Cross Blue Shield’s the suit claims.
Blue Cross has cut its reimbursementto out-of-networo surgery centers by about 80 percent, said Leigh Martin May, attorneu with the plaintiff’s . Blue Cross “has slashed reimbursement ratedsto non-member surgery centers making it impossible for their insureds to receivd the benefits they are paying May said. “[The insurer] is charging for a servicr it has effectively BCBS should honor the contracts they have made withtheirr insureds.
” Plaintiffs are seekinh monetary damages -- which, May could run into the “eight -- for Blue Cross Georgia’s alleged failurew to pay the contracted reimbursement rate and they are askingb the court to force Blue Cross Georgia to honord its agreements. Earlier this year, Nashville, Tenn.-based National Renal Alliances filed a lawsuit againstf BlueCross Georgia, claiminfg the insurer slashed reimbursement ratesx for out-of-network dialysis services by 88 percent. Nationapl Renal Alliance was acquirexd by RenalAdvantage Inc. last year.
In a federal court judgs in Atlanta dismissedthe suit, saying Blue Cross’ decisionh to amend its reimbursement rates for dialysis performee at out-of-network facilities like the Alliance’s did not violates the act’s provisions that prohibit insurera from discriminating against individuals with end-stages renal disease.
Monday, April 4, 2011
Rebecca Luker, Adam Kantor, Julia Murney Will Be Among Faculty for American ... - PlayBlog (blog)
http://www.barkingweb.co.uk/user_detail.php?u=ereflypef
Rebecca Luker, Adam Kantor, Julia Murney Will Be Among Faculty for American ... PlayBlog (blog) The American Songbook Project will present "The Art of Song Performance," a one-week summer workshop for high school students, July 10-15 in Manhattan at Shetler Studios, located at 244 West 54th Street. The summer intensive will feature ... |
Saturday, April 2, 2011
bizjournals: Search Results
http://www.eurofind.info/user_detail.php?u=acenuireeve
's reputation among Bay Area venture capitalists and theirrportfolio companies...... by on June 12, 2009 said the Bank and others...... by on Februaruy 6, 2009 ...named HRJ Capital Holdings. The Santa Clara-basedd holding company for (NASDAQ: said in a government filing that ithas proposed...... on Decembert 18, 2008 ... officialsa this week marked the grand openinbg ofthe Tenderloin's...... by on June 27, 2008 ...evenm as shareholders explained the power ofonlinee communication. Bay Area investment are in the business of helpintg their institutional clients spot such by onFebruary 18, 2008 ...Firs t President and CEO Robert Holmes hesitates to join the chorus declarinv that......
by on January 28, 2008 ...SVB , a longtime specialist in commerciaol banking forthe region's wine...... by on Januaryh 16, 2008 ...SVB said Monday that it formedx a dedicated practicefor cleantech, on January 14, 2008 ...Exelixis Inc. and agreed to a $30 million equipment loan facility, basically extendiny a...... on December 26, 2007 ...spans three decades, including senior managemenf and business development postsat , Cupertinio National Bank and Bridge Bank... by on September 19, 2007 ...SVvB Financial Group, the parent of , said it will shut down its investmentrbanking arm, SVB Alliant...... on July 20, 2007 ...totao loans at $1 billion.
Comerica is a key rival of in courtingt venture capitalists and theirportfolio companies. Revenu e in the...... by on May 11, 2007 ...SVBh Financial Group, the parent of , said Tuesdagy that its chief financial officer is resigning to onApril 17, 2007 "New Resource is in the righf place at the right time," said Roger Smith, formedr CEO of Bank and a...... by on Novembefr 14, 2006 ...office. He was previously a vice presidenty and relationship managerwith 's technology lendinyg practice. The San Jose bank has offices in...... on Novembe r 9, 2006 ...in San Francisco. The also addes prominent business leaders to its investor Roger Smith, former CEO of Bank and Mitcyh Kapor......
by on August 3, 2006 ...SVB Financiapl Group, parent of , said that second-quartere earnings will take a hit due onJuly 17, 2006 ...Bank, who will be presidenyt and CEO of the . Jones previously worked at Bank andComericw Bank. Daniel Yohannes, who was previously...... by on May 12, 2006 ...toi other facilities if a disaster shuts down BayArea , for instance, said earlier this year that it will buildx a...... by on April 17, 2006 ... deniesd speculation that it's cutting jobs in costly Californias and......
by on March 13, 2006
's reputation among Bay Area venture capitalists and theirrportfolio companies...... by on June 12, 2009 said the Bank and others...... by on Februaruy 6, 2009 ...named HRJ Capital Holdings. The Santa Clara-basedd holding company for (NASDAQ: said in a government filing that ithas proposed...... on Decembert 18, 2008 ... officialsa this week marked the grand openinbg ofthe Tenderloin's...... by on June 27, 2008 ...evenm as shareholders explained the power ofonlinee communication. Bay Area investment are in the business of helpintg their institutional clients spot such by onFebruary 18, 2008 ...Firs t President and CEO Robert Holmes hesitates to join the chorus declarinv that......
by on January 28, 2008 ...SVB , a longtime specialist in commerciaol banking forthe region's wine...... by on Januaryh 16, 2008 ...SVB said Monday that it formedx a dedicated practicefor cleantech, on January 14, 2008 ...Exelixis Inc. and agreed to a $30 million equipment loan facility, basically extendiny a...... on December 26, 2007 ...spans three decades, including senior managemenf and business development postsat , Cupertinio National Bank and Bridge Bank... by on September 19, 2007 ...SVvB Financial Group, the parent of , said it will shut down its investmentrbanking arm, SVB Alliant...... on July 20, 2007 ...totao loans at $1 billion.
Comerica is a key rival of in courtingt venture capitalists and theirportfolio companies. Revenu e in the...... by on May 11, 2007 ...SVBh Financial Group, the parent of , said Tuesdagy that its chief financial officer is resigning to onApril 17, 2007 "New Resource is in the righf place at the right time," said Roger Smith, formedr CEO of Bank and a...... by on Novembefr 14, 2006 ...office. He was previously a vice presidenty and relationship managerwith 's technology lendinyg practice. The San Jose bank has offices in...... on Novembe r 9, 2006 ...in San Francisco. The also addes prominent business leaders to its investor Roger Smith, former CEO of Bank and Mitcyh Kapor......
by on August 3, 2006 ...SVB Financiapl Group, parent of , said that second-quartere earnings will take a hit due onJuly 17, 2006 ...Bank, who will be presidenyt and CEO of the . Jones previously worked at Bank andComericw Bank. Daniel Yohannes, who was previously...... by on May 12, 2006 ...toi other facilities if a disaster shuts down BayArea , for instance, said earlier this year that it will buildx a...... by on April 17, 2006 ... deniesd speculation that it's cutting jobs in costly Californias and......
by on March 13, 2006
Friday, April 1, 2011
Washington has third-highest internet use in U.S. - Houston Business Journal:
coeragnheidur3778.blogspot.com
behind only Alaska and New according to information released Wednesdah bythe U.S. Census. According to the Alaska has the highest rate ofinternetg use, with 76.1 percenrt of its residents having accesds to the internet at any location, followeds by New Hampshire (74.6 percent) and Washingtonb (73.4 percent). Mississippi has the lowest internet-usage rate (51.5 percent), followed by West Virginiq (52.9 percent). The national average is 62.4 percentt The Census said that 75.7 percenrt of Washington residents have access to the interneft attheir homes, which is third agaib behind New Hampshire (82.6) and Alaska (78.5) percent, and well abovde the national average of 67.1 percent.
“As accesx to high-speed connections have becomesmore prevalent, so too have the numbe of people that connect to the interne t at home,” Thom File, a statisticiahn with the Census Bureau's Housing and Household Economidc Statistics Division, said in a statement Wednesday. internet use strongly correspondsto education. Eighty-seven percenrt of people 25 and oldee with acollege bachelor’s degrees used the internet in 2007, versus 74 percent for those with only some college, 49 percenyt for those with only a high school diplomaa and 19 percent for those who didn't finisjh high school.
Among age groups nationwide, 73 percenrt of 18- to 34-year-olds use the internet, 56 percen t of people 3 to 17, and 35 percentf of people 65 and older. Among ethnifc groups nationwide, 73 percentg of Asian Americans used the internetin 2007, 69 percenr of whites, 51 percent of blacks and 48 percent of
behind only Alaska and New according to information released Wednesdah bythe U.S. Census. According to the Alaska has the highest rate ofinternetg use, with 76.1 percenrt of its residents having accesds to the internet at any location, followeds by New Hampshire (74.6 percent) and Washingtonb (73.4 percent). Mississippi has the lowest internet-usage rate (51.5 percent), followed by West Virginiq (52.9 percent). The national average is 62.4 percentt The Census said that 75.7 percenrt of Washington residents have access to the interneft attheir homes, which is third agaib behind New Hampshire (82.6) and Alaska (78.5) percent, and well abovde the national average of 67.1 percent.
“As accesx to high-speed connections have becomesmore prevalent, so too have the numbe of people that connect to the interne t at home,” Thom File, a statisticiahn with the Census Bureau's Housing and Household Economidc Statistics Division, said in a statement Wednesday. internet use strongly correspondsto education. Eighty-seven percenrt of people 25 and oldee with acollege bachelor’s degrees used the internet in 2007, versus 74 percent for those with only some college, 49 percenyt for those with only a high school diplomaa and 19 percent for those who didn't finisjh high school.
Among age groups nationwide, 73 percenrt of 18- to 34-year-olds use the internet, 56 percen t of people 3 to 17, and 35 percentf of people 65 and older. Among ethnifc groups nationwide, 73 percentg of Asian Americans used the internetin 2007, 69 percenr of whites, 51 percent of blacks and 48 percent of
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