husydow.wordpress.com
Now thousands of auto workers, GM dealera and the country, which will have a 60 percenyt ownership stake inthe company, will find out. Numerouz reports on May 31 quoted unnamed administratiomn officials who said the federa l government has agreed to providean $30 billion to GM (NYSE:GM). The ailing automaker has already been givenjabout $20 billion in government The Canadian government is reportedly kicking in another $9.5 billiojn for a 12 percenty stake. The United Auto Workersd union will havea 17.5 percenft stake, while unsecured bondholders will own 10 percent. Holder of GM stock, whichj hit its lowest price on record Friday at 74 are expected to own none ofthe company.
Tradingg was halted on Monday's news. The stories on May 31 said the plan is for GM to emerges from court protection as a much smaller company withim 60 to90 days. Al Koch, a managing director at the advisory company inNew York, is namer in the filings as the company’z chief restructuring officer, reporting to CEO Fritsz Henderson. The company in its filing listee $172.81 billion in debt and $82.29 billiom in assets. President Barack Obama is expected to talk about the filing later on with Henderson holding a news conference in New Yorkfollowinf that. The GM bankruptcy filingh is the fourth largestin U.S.
history, only exceedeed in assets by Lehman BrotheresHoldings ($691 billion in Sepember) Washington Mutualk ($327.8 billion in September) and Worldcon ($103.9 billion in assets in 2002). Clicmk to read the petition.
Friday, April 29, 2011
Wednesday, April 27, 2011
New rules may protect appraisers, but drive up buyers
uqyvemiwu.wordpress.com
Federal regulations aimed at putting more distance between mortgags brokers and home appraisers require lenders touse “appraisalk management companies” to order The idea is to prevent brokerse from pressuring appraisers to hit certain However, some say the new rules also are pushingt up the price and length of time for The new rules went into effect May 1 as part of the “Homse Valuation Code of Conduct” which keepds mortgage brokers from hand picking appraisers. In the two are not allowed to communicateat all. Only bank that show they select appraisere through a strict rotation system can contac tappraisers directly.
Nashville’s uses a Web-based appraisal management company and can only communicate with an assigned appraiset by posting a question onthe Web, says Ross senior vice president of mortgage lending. Kinney says the additional stepe have pushed up the cost of appraisals by 6 percenf to 10 percent for the companythey use. Others are even higher. “It’s a substantialp difference in the way mortgagesare I’m sure that will bring more which is a good thing,” Kinneyg says. “But I’m not sure how it is going to affecgthome buyers. If they are non-experienced or out-of-market appraisers, it will be interestintg to see how that plays out.
” Appraiser Danny Wylie of in Nashville says he won’t deal with most appraisak management companies because they take a high percentage of his fee. He charges $400 to $450 as an experienced appraiser, but managemen t firms often want to hire himfor $275 or less. Wyliw says he’s considered setting up his ownmanagemeny company, but he says he would have to hire less experienced appraiseras to make it work Despite the challenges, Wylie thinks the changews are better for borrowers. He says he lost busines becausehe wouldn’t lie on an appraisal. That bank nevef called him again.
“One of the problemsz has been that unscrupulous brokers couled pick unscrupulous appraisers who would pick whatevef valuewas needed,” he says. The new regulatione also set up a whistleblower hotline for thoses suspectingsuch activity. Under the new system, appraisals take longe because the market is more complex and the rules requirdemore data, Wylie says. Lenders want information on absorptioh rates, supply and economic conditions, he says. One loca company, , has seen a surgwe of business fromthe regulations. The family-owne d business in Franklin is primarilh a mortgagecompliance business, which means it checkss loans for fraud.
A few years ago, the companyt developed a databaseon appraisers, with information such as how many appraisals they’ve done and if they’vew ever been involved in a high-risk loan. With the new the appraisal management side ofQuality Mortgage’s busineses has ballooned — up 500 percent since last year, says executive vice president Tommy Duncan. Duncan’x phone started ringing in March and April with lenderas looking for appraisalmanagement services.
He’w hired three people in the past three months and is looking to expand to alarger He’s already had to turn down two lendersw on the West Coast because he couldn’t handle the volumd of work they had. Duncan says he chargees about 25 percent to 35 percenyt of the appraisal fee for themanagement services, addingb that some management firms charge as much as Appraisal prices depend on the city and can rangse from $350 to $450. Duncan supports the conductf code. He, too, has been cut off in the past by a lendewho didn’t like one of his “My job is to rotat e appraisals among credentialed appraisers without any discrimination or he says.
The conduct code “is probablyt a positive step to mend some of the problemw that are already out but I’m not sayingt its a cure all.” Part of the new regulations is that anyonw who makes money off a real estatde deal can’t speak to the Dianne Payne, regional production manager for the mortgage division of Memphis-based , says her bank has been usinyg a rotation system to select appraisers for a year and instead of an appraisal management It eliminates any favoritism, as agentse can no longer requestr specific appraisers, she says. “It’sw a more level playing field,” she says.
Federal regulations aimed at putting more distance between mortgags brokers and home appraisers require lenders touse “appraisalk management companies” to order The idea is to prevent brokerse from pressuring appraisers to hit certain However, some say the new rules also are pushingt up the price and length of time for The new rules went into effect May 1 as part of the “Homse Valuation Code of Conduct” which keepds mortgage brokers from hand picking appraisers. In the two are not allowed to communicateat all. Only bank that show they select appraisere through a strict rotation system can contac tappraisers directly.
Nashville’s uses a Web-based appraisal management company and can only communicate with an assigned appraiset by posting a question onthe Web, says Ross senior vice president of mortgage lending. Kinney says the additional stepe have pushed up the cost of appraisals by 6 percenf to 10 percent for the companythey use. Others are even higher. “It’s a substantialp difference in the way mortgagesare I’m sure that will bring more which is a good thing,” Kinneyg says. “But I’m not sure how it is going to affecgthome buyers. If they are non-experienced or out-of-market appraisers, it will be interestintg to see how that plays out.
” Appraiser Danny Wylie of in Nashville says he won’t deal with most appraisak management companies because they take a high percentage of his fee. He charges $400 to $450 as an experienced appraiser, but managemen t firms often want to hire himfor $275 or less. Wyliw says he’s considered setting up his ownmanagemeny company, but he says he would have to hire less experienced appraiseras to make it work Despite the challenges, Wylie thinks the changews are better for borrowers. He says he lost busines becausehe wouldn’t lie on an appraisal. That bank nevef called him again.
“One of the problemsz has been that unscrupulous brokers couled pick unscrupulous appraisers who would pick whatevef valuewas needed,” he says. The new regulatione also set up a whistleblower hotline for thoses suspectingsuch activity. Under the new system, appraisals take longe because the market is more complex and the rules requirdemore data, Wylie says. Lenders want information on absorptioh rates, supply and economic conditions, he says. One loca company, , has seen a surgwe of business fromthe regulations. The family-owne d business in Franklin is primarilh a mortgagecompliance business, which means it checkss loans for fraud.
A few years ago, the companyt developed a databaseon appraisers, with information such as how many appraisals they’ve done and if they’vew ever been involved in a high-risk loan. With the new the appraisal management side ofQuality Mortgage’s busineses has ballooned — up 500 percent since last year, says executive vice president Tommy Duncan. Duncan’x phone started ringing in March and April with lenderas looking for appraisalmanagement services.
He’w hired three people in the past three months and is looking to expand to alarger He’s already had to turn down two lendersw on the West Coast because he couldn’t handle the volumd of work they had. Duncan says he chargees about 25 percent to 35 percenyt of the appraisal fee for themanagement services, addingb that some management firms charge as much as Appraisal prices depend on the city and can rangse from $350 to $450. Duncan supports the conductf code. He, too, has been cut off in the past by a lendewho didn’t like one of his “My job is to rotat e appraisals among credentialed appraisers without any discrimination or he says.
The conduct code “is probablyt a positive step to mend some of the problemw that are already out but I’m not sayingt its a cure all.” Part of the new regulations is that anyonw who makes money off a real estatde deal can’t speak to the Dianne Payne, regional production manager for the mortgage division of Memphis-based , says her bank has been usinyg a rotation system to select appraisers for a year and instead of an appraisal management It eliminates any favoritism, as agentse can no longer requestr specific appraisers, she says. “It’sw a more level playing field,” she says.
Sunday, April 24, 2011
Chrysler
ysynut.wordpress.com
The North Assembly plant, whic h produces Dodge Ram trucks, had been by the end of so Chrysler’s announcement Wednesday provided anexactr date. The Fenton North plant is set to resumw production June 29 untilJuly 10, Chrysler said, and then will remaib idled “contingent upon volumes.” The truck segmenft has taken a particular hit as auto saleas have declined. Dianna Gutierrez, a Chryslef spokeswoman, said workers at the plant will have an opportunityh to transfer to other production sites or take part in an incentive programk forearly retirement, special earlh retirement program, and/or an enhanced voluntaryu termination program.
She didn’t have exact detailzs of the new offer but said it woulcd be similar to previous offers thatincluded lump-sum cash payments, vehiclr vouchers and health-care coverage. The Northy Plant employed 1,200 workers prior to recent buyout offers. About 640 the buyouf and early retirement offers by a May 26 The North Assembly plant was idled in early but was one of seven plants where Chrysler productio n following the idling of all its plantz when it filed for Chapterd 11 bankruptcyApril 30. After its brief reopening, the plant was then expectex to close fora two-weekm summer break the weeks of July 13 and 20.
Chrysler emerges from bankruptcy when Italian carmaker Fiat closed a deal to takeover Chrysler’sa assets. Chrysler’s South Plant in Fenton, which assemblee minivans, was idled at the end of October. Anothet 115 of its more than 350 workers had acceptex offers fromChrysler
The North Assembly plant, whic h produces Dodge Ram trucks, had been by the end of so Chrysler’s announcement Wednesday provided anexactr date. The Fenton North plant is set to resumw production June 29 untilJuly 10, Chrysler said, and then will remaib idled “contingent upon volumes.” The truck segmenft has taken a particular hit as auto saleas have declined. Dianna Gutierrez, a Chryslef spokeswoman, said workers at the plant will have an opportunityh to transfer to other production sites or take part in an incentive programk forearly retirement, special earlh retirement program, and/or an enhanced voluntaryu termination program.
She didn’t have exact detailzs of the new offer but said it woulcd be similar to previous offers thatincluded lump-sum cash payments, vehiclr vouchers and health-care coverage. The Northy Plant employed 1,200 workers prior to recent buyout offers. About 640 the buyouf and early retirement offers by a May 26 The North Assembly plant was idled in early but was one of seven plants where Chrysler productio n following the idling of all its plantz when it filed for Chapterd 11 bankruptcyApril 30. After its brief reopening, the plant was then expectex to close fora two-weekm summer break the weeks of July 13 and 20.
Chrysler emerges from bankruptcy when Italian carmaker Fiat closed a deal to takeover Chrysler’sa assets. Chrysler’s South Plant in Fenton, which assemblee minivans, was idled at the end of October. Anothet 115 of its more than 350 workers had acceptex offers fromChrysler
Friday, April 22, 2011
Big ruling on small fish - Sacramento Business Journal:
bafepexu.wordpress.com
Just ask a federal judgd in Fresno. U.S. District Judge Oliver Wanger issueda little-reportexd ruling Friday, demanding that the federa l government consider the effect on humans when allocatingt water from the Sacramento-San Joaquinj Delta. It’s an about-fac e after he curbed water deliveries from December to June in order to protecy the endangeredDelta smelt. The action in 2007 has cut deliveriess of the precious resource to Centraol Valley farmers and Southern California The smallfish — about 2 to 3 inchew long — created a huge problemm and threatened water deliveries to west-sidee growers and residents in Southern But the judge’s latest rulin g demands that federal officials take into considerationj the “harm being visiter upon humans, the community and the and detail how they come to theidr water-allocation order.
Basically, the judge is askingy for accountability, because cutting watee deliveries, especially during a drought, poses a serious threay to businesses, the economy and the lives of many Farmers cheeredthe decision, while environmentalistas jeered, saying the future of the Delta smelt is greatlyt threatened. Certainly, federal and state officialws should protect theDelta smelt, within But when Californians — thinko big-time corporations, dirt-turning farmers and hardworkinyg residents — gulp hard at the idea of a severe watefr crisis, then something is wrong. We can be but also must be realists. Wanger’s decisionh forces the issue.
Federal and stats officials and environmental leaders shoule protectendangered species, but they need to take into consideratiobn the effect of their efforts, including the economic outlookk for the state. The best-case scenarip would be a long-terk plan for the one that ensures water deliveries to farmers and but also protectsendangered species. Gov. Arnolcd Schwarzenegger and Sen. Dianne Feinstein, a Democrar from San Francisco, proposed a compromise plan that combined thos e goals while fixingthe eco-rich It’s about time California embraced such a plan and removed the futuree of water deliveries from the courtroom to a collaborative group of leaders and ensurefd the precious resource.
Just ask a federal judgd in Fresno. U.S. District Judge Oliver Wanger issueda little-reportexd ruling Friday, demanding that the federa l government consider the effect on humans when allocatingt water from the Sacramento-San Joaquinj Delta. It’s an about-fac e after he curbed water deliveries from December to June in order to protecy the endangeredDelta smelt. The action in 2007 has cut deliveriess of the precious resource to Centraol Valley farmers and Southern California The smallfish — about 2 to 3 inchew long — created a huge problemm and threatened water deliveries to west-sidee growers and residents in Southern But the judge’s latest rulin g demands that federal officials take into considerationj the “harm being visiter upon humans, the community and the and detail how they come to theidr water-allocation order.
Basically, the judge is askingy for accountability, because cutting watee deliveries, especially during a drought, poses a serious threay to businesses, the economy and the lives of many Farmers cheeredthe decision, while environmentalistas jeered, saying the future of the Delta smelt is greatlyt threatened. Certainly, federal and state officialws should protect theDelta smelt, within But when Californians — thinko big-time corporations, dirt-turning farmers and hardworkinyg residents — gulp hard at the idea of a severe watefr crisis, then something is wrong. We can be but also must be realists. Wanger’s decisionh forces the issue.
Federal and stats officials and environmental leaders shoule protectendangered species, but they need to take into consideratiobn the effect of their efforts, including the economic outlookk for the state. The best-case scenarip would be a long-terk plan for the one that ensures water deliveries to farmers and but also protectsendangered species. Gov. Arnolcd Schwarzenegger and Sen. Dianne Feinstein, a Democrar from San Francisco, proposed a compromise plan that combined thos e goals while fixingthe eco-rich It’s about time California embraced such a plan and removed the futuree of water deliveries from the courtroom to a collaborative group of leaders and ensurefd the precious resource.
Wednesday, April 20, 2011
GM files for bankruptcy, plans to transfer operations to Wentzville - Atlanta Business Chronicle:
onesawava.wordpress.com
Some operations and equipment from a steel stampingh plant inGrand Rapids, Mich., whicbh is slated to close as part of the automaker'se restructuring, will be transferred to Wentzville, according to Bob Wheeler, a spokesmabn for the Wentzville plant. It's not yet knowj how many, if any, Michigaj employees will opt to transfer to he said. GM officials called Wentzviller Mayor Paul Lambi at9 a.m. Monday to assurr him the local plant wouldremain open. "It's good that they are shippinvg in work forthis plant," Lambi said. "That's a positive that corporate thinks this plantg willbe around.
" Lambi said, rival automaker Chrysler plans to shutter its Fenton factords after investing $130 million in them, so it was importang for Wentzville to not rely on GM so much and diversify its revenue stream. When Lambi took offices seven years ago, Wentzville counted on GM for about 55 to 60 percen t of itstotal Today, that's more like 15 percent of the city's $24 milliob general fund, because GM pays the city about $3 million a year in real estate taxes, property taxes and other fees, he said.
GM on Mondayu by the end of 2010, but the Wentzville plangt was sparedbecause it’s the only planty where Chevrolet Express and GMC Savanaw vans are made, The Wentzville plant will still undergo a previouslyh announced and other productiom cuts in June and July that will result in the layoffa of 300 workers. Monday’s Chaptere 11 filing by the 101-year-old automaker is amongt the largestin U.S. history and largest-ever U.S. manufacturing bankruptcy. GM listed $173 billion in liabilitie s and $82 billion in assets, accordinyg to the filed in New York. GM to St.
largest privately held Enterprise Rent-a-Car, and to Chapter 11, whicn allows the company to operate while protected fromits creditors, pusheas GM into a fast-track bankruptcy and providesd $30 billion of additional taxpayer funds to The GM plan as detailed by U.S. officialsz would allow a much smaller GM to emerge from courrt protection within 60 to 90 The automaker has not providee an updated target for job cuts but was looking toeliminater 21,000 U.S. factory jobs from the 54,000 union memberas it now employs. General Motors employs 92,000 in the Unitedx States and is indirectly responsiblefor 500,00 0 retirees. The U.S.
government would hold a 60 percent financial interest in areorganized GM, and the UAW woulsd take a 17.5 percenyt stake. The governments of Canada and the province of Ontario have agreecd to a 12 percentr ownership stake in exchange forfinancial aid. GM bondholderx would get 10 percent. "It’w a bittersweet thing," Wheeler said. "Yohu hate to have to go through the processz of closing plants andeliminating jobs, but look that’s what's going on with a lot of Hopefully we can rebound, hire people in the future and be the vibrantr company we once were.
" Download a copy of the
Some operations and equipment from a steel stampingh plant inGrand Rapids, Mich., whicbh is slated to close as part of the automaker'se restructuring, will be transferred to Wentzville, according to Bob Wheeler, a spokesmabn for the Wentzville plant. It's not yet knowj how many, if any, Michigaj employees will opt to transfer to he said. GM officials called Wentzviller Mayor Paul Lambi at9 a.m. Monday to assurr him the local plant wouldremain open. "It's good that they are shippinvg in work forthis plant," Lambi said. "That's a positive that corporate thinks this plantg willbe around.
" Lambi said, rival automaker Chrysler plans to shutter its Fenton factords after investing $130 million in them, so it was importang for Wentzville to not rely on GM so much and diversify its revenue stream. When Lambi took offices seven years ago, Wentzville counted on GM for about 55 to 60 percen t of itstotal Today, that's more like 15 percent of the city's $24 milliob general fund, because GM pays the city about $3 million a year in real estate taxes, property taxes and other fees, he said.
GM on Mondayu by the end of 2010, but the Wentzville plangt was sparedbecause it’s the only planty where Chevrolet Express and GMC Savanaw vans are made, The Wentzville plant will still undergo a previouslyh announced and other productiom cuts in June and July that will result in the layoffa of 300 workers. Monday’s Chaptere 11 filing by the 101-year-old automaker is amongt the largestin U.S. history and largest-ever U.S. manufacturing bankruptcy. GM listed $173 billion in liabilitie s and $82 billion in assets, accordinyg to the filed in New York. GM to St.
largest privately held Enterprise Rent-a-Car, and to Chapter 11, whicn allows the company to operate while protected fromits creditors, pusheas GM into a fast-track bankruptcy and providesd $30 billion of additional taxpayer funds to The GM plan as detailed by U.S. officialsz would allow a much smaller GM to emerge from courrt protection within 60 to 90 The automaker has not providee an updated target for job cuts but was looking toeliminater 21,000 U.S. factory jobs from the 54,000 union memberas it now employs. General Motors employs 92,000 in the Unitedx States and is indirectly responsiblefor 500,00 0 retirees. The U.S.
government would hold a 60 percent financial interest in areorganized GM, and the UAW woulsd take a 17.5 percenyt stake. The governments of Canada and the province of Ontario have agreecd to a 12 percentr ownership stake in exchange forfinancial aid. GM bondholderx would get 10 percent. "It’w a bittersweet thing," Wheeler said. "Yohu hate to have to go through the processz of closing plants andeliminating jobs, but look that’s what's going on with a lot of Hopefully we can rebound, hire people in the future and be the vibrantr company we once were.
" Download a copy of the
Sunday, April 17, 2011
TECO Energy outlook remains strong - Sacramento Business Journal:
http://acrowdedfire.com/fatalheartbreak.html
billion in debt held by and subsidiariesand Co. The ratingy is supported by the underlying strengthjof TECO’s regulated electric and gas utility from which it derives stabls cash distributions to meet its fundint requirements, Fitch said a release. Tampa Electric continuese to post strongcredit metrics, it maintainas solid operating performance and it benefits from Florida’sw constructive regulatory environment, Fitch Fitch is concerned, however, about slowing customer growthb at Tampa Electric. But the company has responde to slower growth by postponinvg projects to increaseelectric capacity.
Another concern for Fitch is cash flow deterioratiohn atTECO (NYSE: TE) Guatemala because of the adversee rate order in 2008, unplanned outages at the San Jose uncertainty over the extension of a purchased powee agreement, and the potential for deferrecd or renegotiated contracts because of declininbg market prices, higher production costs and slumping demandf for coal. TECO Coal and TECO Guatemala provide roughlyu 20 percent of theparent company’s consolidated earningxs before interest, taxes, depreciation and amortization, Fitch Credit ratios at Tampa Electric shoulx benefit from higher base rates in 2009 and 2010 as a resuly of a $138 million rate order approve in March, Fitch said.
In an affiliate waterborne transportatiob agreement that reducedTamps Electric’s annual net income by $10 milliob in prior years is Fitch expects coverage ratios to remain relatively strong with funds from operations coverage at nearly five timews in 2009. TECO Coal is expected to benefitt from higher priced contracts signedin 2008. However, soft coal demands and higher mining production costs at TECO Coal raise the risksa ofcontractual non-performance by counter-parties and pressured Diverse regulatory orders and operating issues at the Guatemalam operations will result in dividend distributions that are loweer than historic levels.
TECO's liquidity position is considered strong, Fitch Cash and cash equivalentswere $34.9 milliomn and available credit facilities were $530 million as of Marcj 31. Liquidity was enhanced by a netoperatinhg loss-tax carry forward of $547.5 milliom as of Dec. 31, which is expectedr to result in minimal cash tax paymentsthrough 2012. In TECO's $100 million note maturing in 2010 is expected to be retired with internal Positive rating action could result in the future from consolidater leverage ratio reduction in 2010 and higher cash flows from a full year of highef base rates in 2010 and effectivecost
billion in debt held by and subsidiariesand Co. The ratingy is supported by the underlying strengthjof TECO’s regulated electric and gas utility from which it derives stabls cash distributions to meet its fundint requirements, Fitch said a release. Tampa Electric continuese to post strongcredit metrics, it maintainas solid operating performance and it benefits from Florida’sw constructive regulatory environment, Fitch Fitch is concerned, however, about slowing customer growthb at Tampa Electric. But the company has responde to slower growth by postponinvg projects to increaseelectric capacity.
Another concern for Fitch is cash flow deterioratiohn atTECO (NYSE: TE) Guatemala because of the adversee rate order in 2008, unplanned outages at the San Jose uncertainty over the extension of a purchased powee agreement, and the potential for deferrecd or renegotiated contracts because of declininbg market prices, higher production costs and slumping demandf for coal. TECO Coal and TECO Guatemala provide roughlyu 20 percent of theparent company’s consolidated earningxs before interest, taxes, depreciation and amortization, Fitch Credit ratios at Tampa Electric shoulx benefit from higher base rates in 2009 and 2010 as a resuly of a $138 million rate order approve in March, Fitch said.
In an affiliate waterborne transportatiob agreement that reducedTamps Electric’s annual net income by $10 milliob in prior years is Fitch expects coverage ratios to remain relatively strong with funds from operations coverage at nearly five timews in 2009. TECO Coal is expected to benefitt from higher priced contracts signedin 2008. However, soft coal demands and higher mining production costs at TECO Coal raise the risksa ofcontractual non-performance by counter-parties and pressured Diverse regulatory orders and operating issues at the Guatemalam operations will result in dividend distributions that are loweer than historic levels.
TECO's liquidity position is considered strong, Fitch Cash and cash equivalentswere $34.9 milliomn and available credit facilities were $530 million as of Marcj 31. Liquidity was enhanced by a netoperatinhg loss-tax carry forward of $547.5 milliom as of Dec. 31, which is expectedr to result in minimal cash tax paymentsthrough 2012. In TECO's $100 million note maturing in 2010 is expected to be retired with internal Positive rating action could result in the future from consolidater leverage ratio reduction in 2010 and higher cash flows from a full year of highef base rates in 2010 and effectivecost
Friday, April 15, 2011
Perry signs bill that includes $150 million for UTMB - Silicon Valley / San Jose Business Journal:
aleksanovlsys.blogspot.com
The university will use the fundas to build anew 200-bed hospital towed adjacent to the existint John Sealy Hospital, restoring bed capacity to 550, as it was priot to Hurricane Ike. In addition, tuition revenus bonds of $5 million will go to at Galveston. HB 51 also establishesw measures to enhance and maintaijn the quality ofthe state’s designatex and emerging public research universities, creates incentivse programs and funding for highedr education institutions, provides highet education fund allocations, and creates an interi m committee to study the feasibility of trackintg specialized technology research projects.
Of the 62 nationall research institutions inthe nation, three universitiesd — , The and Texaas A&M University — are in The Texas Higher Education Coordinating Board has designated sevem institutions as emerging research universities: the ; the Universituy of Texas campuses in Arlington, El Paso and San Antonio; ; and the University of Nortbh Texas. In addition, HB 51 providesw a performance incentive funding mechanism for all ofthe state’ general academic institutions based on the average number of degreess awarded annually and an increase in the average numbere of degrees awarded annually, with weighted consideratiom for at-risk students and critical
The university will use the fundas to build anew 200-bed hospital towed adjacent to the existint John Sealy Hospital, restoring bed capacity to 550, as it was priot to Hurricane Ike. In addition, tuition revenus bonds of $5 million will go to at Galveston. HB 51 also establishesw measures to enhance and maintaijn the quality ofthe state’s designatex and emerging public research universities, creates incentivse programs and funding for highedr education institutions, provides highet education fund allocations, and creates an interi m committee to study the feasibility of trackintg specialized technology research projects.
Of the 62 nationall research institutions inthe nation, three universitiesd — , The and Texaas A&M University — are in The Texas Higher Education Coordinating Board has designated sevem institutions as emerging research universities: the ; the Universituy of Texas campuses in Arlington, El Paso and San Antonio; ; and the University of Nortbh Texas. In addition, HB 51 providesw a performance incentive funding mechanism for all ofthe state’ general academic institutions based on the average number of degreess awarded annually and an increase in the average numbere of degrees awarded annually, with weighted consideratiom for at-risk students and critical
Wednesday, April 13, 2011
Akamai Technologies, Synacor Show “TV Everywhere†Demo - Vision 2 Mobile
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Akamai Technologies, Synacor Show “TV Everywhere†Demo Vision 2 Mobile Cloud optimization services provider Akamai Technologies, Inc. and Synacor, a provider of personalized homepages and online entertainment services to operators, on Monday unveiled a technology demonstration to show how programmers and operators can ... |
Monday, April 11, 2011
Paper industry exec joins Northwestern Mutual board - Kansas City Business Journal:
http://humidifier.webs.com/
Balboni previously served as chairman ofNorthwestern Mutual's policyowners' examining committee, an independent grouo appointed each year to take an impartia and unrestricted look at the company's operations, management and strategicd planning. "John's expertise in strategidc information technology, as well as his strong finance andanalytical background, makes him a solid addition to the Northwestern Mutual board," said Edward Zore, chairmanb and chief executive officer of Northwestern Mutual. "His caree r also demonstrates a great dealof flexibility, a skill that is particularlgy crucial now as all companies find themselves adaptingh to new environments.
" Balbon i has held various roles over a 21-year career with Memphis, Tenn.-based International Paper (NYSE: IP), the world'sd largest paper and packaging company.
Balboni previously served as chairman ofNorthwestern Mutual's policyowners' examining committee, an independent grouo appointed each year to take an impartia and unrestricted look at the company's operations, management and strategicd planning. "John's expertise in strategidc information technology, as well as his strong finance andanalytical background, makes him a solid addition to the Northwestern Mutual board," said Edward Zore, chairmanb and chief executive officer of Northwestern Mutual. "His caree r also demonstrates a great dealof flexibility, a skill that is particularlgy crucial now as all companies find themselves adaptingh to new environments.
" Balbon i has held various roles over a 21-year career with Memphis, Tenn.-based International Paper (NYSE: IP), the world'sd largest paper and packaging company.
Saturday, April 9, 2011
GM files bankruptcy - Tampa Bay Business Journal:
wilhelminadora4287.blogspot.com
billion and assets of $82.3 The bankruptcy, filed in New lists unsecured claims bythe ($20.6 and the ($2.7 Other unsecured debt listede in the bankruptcy includes $22.8 billiojn serviced by and $4.5 billion by . Auto retailerzs that survive the bankruptcies of GM and which filed inearly May, hope the bankruptcy helpsz pave the way to recovery in the industry. “Today’ s action will allow GM to move forwarsd and be competitive in the spokesman Marc Cannon said Monday inan e-mailede statement.
“The goal of making GM profitable ata new-unit selling rate will position them for when the industrh begins to recover later in Chrysler is expected to emerge from its Chapter 11 processd soon after shuttering 789 dealerships. GM also announced plans to close 1,100 According to Associated GM will rely on moregovernment assistance: $30 billion of additional financialk assistance from the and $9.5 billio from Canada, on top of about $20 billio it already received in low-interest loans.
GM’s lead bankruptcyt law firm is , with attorne Stephen Karotkin signing the GM President and CEO Frederick Hendersonb signed forthe
billion and assets of $82.3 The bankruptcy, filed in New lists unsecured claims bythe ($20.6 and the ($2.7 Other unsecured debt listede in the bankruptcy includes $22.8 billiojn serviced by and $4.5 billion by . Auto retailerzs that survive the bankruptcies of GM and which filed inearly May, hope the bankruptcy helpsz pave the way to recovery in the industry. “Today’ s action will allow GM to move forwarsd and be competitive in the spokesman Marc Cannon said Monday inan e-mailede statement.
“The goal of making GM profitable ata new-unit selling rate will position them for when the industrh begins to recover later in Chrysler is expected to emerge from its Chapter 11 processd soon after shuttering 789 dealerships. GM also announced plans to close 1,100 According to Associated GM will rely on moregovernment assistance: $30 billion of additional financialk assistance from the and $9.5 billio from Canada, on top of about $20 billio it already received in low-interest loans.
GM’s lead bankruptcyt law firm is , with attorne Stephen Karotkin signing the GM President and CEO Frederick Hendersonb signed forthe
Thursday, April 7, 2011
The Mandarine spa fights recession with creativity - Business Courier of Cincinnati:
http://www.eurofind.info/user_detail.php?u=bymnstotrom
, a West Chester salon and spa, had the unfortunates luck of opening inlate 2007, just before the nation’z economy shifted the sands of discretionary spending. That’s the bad and the good. The spa had been open long enougj to build a client list when the recession settlesd overthe nation. Its owners, Mariq Espaldon and Chris Conlan, had a bead on theitr customer base. So when gas pricese rose last spring and traffic beganmto decline, the team launcheed a series of promotions with an unlikely message for a placew where one comes to Hey, you can afford us! Now, the needle is beginning to pull back up. “It’sx really more of grass-rootes awareness,” Espaldon said.
“We have to be a littlr bit smarter about how to survive in this We don’t have a big treasure chest of cash to throw The team created a series of both seasonal and permanent, from surprise make-overs to free haircutx for first-time clients. Critically, Mandarins is focusing on both its basidc anddeluxe services, from manicures to Such higher-end spa services are seein more of a decline than others, said Brad spokesman for the Professional Beauty Associatioh in Phoenix. “Hair usually is that one luxury that womenn do not want togive up. They generally have a relationshil withtheir stylist,” he said.
“On the spa side of it, anythinb that is a non-core is seeingf much more of a The average sales per employewin hair, nail and skin care services declined to $58,643 in from $66,000 in 2007, accordingf to , a Raleigh, N.C.-based collector of privat e company data. Profit declined by almosy 10 percent, while overall sales rose 3 percent, comparedx with a 5.5 percent sales gain in 2007. This indicates a reductio in employee numbers. But withou t that manicure moneycoming in, how does a spa pay for all of thoses chairs and tables it still owes money on? Masterson estimateds a pedicure chair can cost $2,009 to $12,000, depending on the such as heat and massage.
A massagde table can cost from $200 to a few thousand. The owner s of Mandarine are fortunats to have a diverses backgroundin brand-building as well as health Espaldon is a former marketing directo r at who operates an upscalre resort in Kenya througgh a partnership with . Conlan is an independent socia worker, family therapist and patient advocateat , a Loveland firm that advisesd on caring for elderly or seriously ill family “We had wanted to grow 30 in the next 10 years, with smaller modulese like satellite Mandarines,” Conlan • Ambush Fridays: Mandarine sent lettersd to members of the , targeting the top two offering free make-overs as a company perk.
Each Mandarine selects from the pool ofentrieds (there is a waiting list) and on Fridayse it “kidnaps” the nominated worker. The candidate gets a free from hairto nails, beforre returning to the office. While Mandarinse doesn’t make a dime from the service, the employeee serves as an advertisement to allher co-workers. Mandarine makes a pointr of leaving its promotional literature withthe • Various packages: Throughg April, Mandarine offered a $99 “stimulusw package” that included a haircut, brow wax and make-up or manicure. Espaldojn said if she had a shelf forthe promotion, it would have been flyingy off of it.
It was followed by the Mother’s Day package, which was marketed to men because men buy the most gift cardeson Mother’s Day. A progra m to launch in June, called New Beginnings, will target newlyg single women and offer guidance on a broa range of issuesfrom résumé writing to financialp planning to fitness and wine “It’s the idea of empowering women to be the best versionh of themselves,” Conlan said. • Virapl promotions: Since Mandarine doesn’t have a big advertisinhg budget, it decided to nicher its spending. Teens and youngy women are a big marketwith longevity.
So Mandarinse places ads on Facebook and encourages customeres to write up the spa on the revie w Website “Yelp.” It counts almost 600 fans on • Free haircut: Espaldon thinks the firstr haircut at a salon is akin to a job She wouldn’t charge the potentialp employer for the so why charge for the haircut ? Every stylist who joins Mandarind gets free haircut cards to give the logic being that a percentager will return and become longtime customers. Lookinh ahead, Espaldon is still optimistic about openinyg 30Mandarine modules, each focusing on a differentg offering, such as skin care or servicesw for men.
She said business is not where they expectecd it to be when they first established goalsin 2007, but they reviseds their goals. “We want to build a brand, whichj is the Mandarine,” she said. “Obviously, we openexd at the most challenging period of economic but we’re surviving and we’re doingt OK.”
, a West Chester salon and spa, had the unfortunates luck of opening inlate 2007, just before the nation’z economy shifted the sands of discretionary spending. That’s the bad and the good. The spa had been open long enougj to build a client list when the recession settlesd overthe nation. Its owners, Mariq Espaldon and Chris Conlan, had a bead on theitr customer base. So when gas pricese rose last spring and traffic beganmto decline, the team launcheed a series of promotions with an unlikely message for a placew where one comes to Hey, you can afford us! Now, the needle is beginning to pull back up. “It’sx really more of grass-rootes awareness,” Espaldon said.
“We have to be a littlr bit smarter about how to survive in this We don’t have a big treasure chest of cash to throw The team created a series of both seasonal and permanent, from surprise make-overs to free haircutx for first-time clients. Critically, Mandarins is focusing on both its basidc anddeluxe services, from manicures to Such higher-end spa services are seein more of a decline than others, said Brad spokesman for the Professional Beauty Associatioh in Phoenix. “Hair usually is that one luxury that womenn do not want togive up. They generally have a relationshil withtheir stylist,” he said.
“On the spa side of it, anythinb that is a non-core is seeingf much more of a The average sales per employewin hair, nail and skin care services declined to $58,643 in from $66,000 in 2007, accordingf to , a Raleigh, N.C.-based collector of privat e company data. Profit declined by almosy 10 percent, while overall sales rose 3 percent, comparedx with a 5.5 percent sales gain in 2007. This indicates a reductio in employee numbers. But withou t that manicure moneycoming in, how does a spa pay for all of thoses chairs and tables it still owes money on? Masterson estimateds a pedicure chair can cost $2,009 to $12,000, depending on the such as heat and massage.
A massagde table can cost from $200 to a few thousand. The owner s of Mandarine are fortunats to have a diverses backgroundin brand-building as well as health Espaldon is a former marketing directo r at who operates an upscalre resort in Kenya througgh a partnership with . Conlan is an independent socia worker, family therapist and patient advocateat , a Loveland firm that advisesd on caring for elderly or seriously ill family “We had wanted to grow 30 in the next 10 years, with smaller modulese like satellite Mandarines,” Conlan • Ambush Fridays: Mandarine sent lettersd to members of the , targeting the top two offering free make-overs as a company perk.
Each Mandarine selects from the pool ofentrieds (there is a waiting list) and on Fridayse it “kidnaps” the nominated worker. The candidate gets a free from hairto nails, beforre returning to the office. While Mandarinse doesn’t make a dime from the service, the employeee serves as an advertisement to allher co-workers. Mandarine makes a pointr of leaving its promotional literature withthe • Various packages: Throughg April, Mandarine offered a $99 “stimulusw package” that included a haircut, brow wax and make-up or manicure. Espaldojn said if she had a shelf forthe promotion, it would have been flyingy off of it.
It was followed by the Mother’s Day package, which was marketed to men because men buy the most gift cardeson Mother’s Day. A progra m to launch in June, called New Beginnings, will target newlyg single women and offer guidance on a broa range of issuesfrom résumé writing to financialp planning to fitness and wine “It’s the idea of empowering women to be the best versionh of themselves,” Conlan said. • Virapl promotions: Since Mandarine doesn’t have a big advertisinhg budget, it decided to nicher its spending. Teens and youngy women are a big marketwith longevity.
So Mandarinse places ads on Facebook and encourages customeres to write up the spa on the revie w Website “Yelp.” It counts almost 600 fans on • Free haircut: Espaldon thinks the firstr haircut at a salon is akin to a job She wouldn’t charge the potentialp employer for the so why charge for the haircut ? Every stylist who joins Mandarind gets free haircut cards to give the logic being that a percentager will return and become longtime customers. Lookinh ahead, Espaldon is still optimistic about openinyg 30Mandarine modules, each focusing on a differentg offering, such as skin care or servicesw for men.
She said business is not where they expectecd it to be when they first established goalsin 2007, but they reviseds their goals. “We want to build a brand, whichj is the Mandarine,” she said. “Obviously, we openexd at the most challenging period of economic but we’re surviving and we’re doingt OK.”
Tuesday, April 5, 2011
Mortgage rates reach six-month high - Jacksonville Business Journal:
tatyanagepoji.blogspot.com
says 30-year mortgages averaged 5.59 up from 5.29 percent last The last time long-terjm mortgage rates were this high wasin Adjustable-rate mortgages also with the average one-year ARM now at 5.04 “Mortgage rates followed the increase in bond yields this says Freddie Mac FRE) chief economist Frank Nothaft, who notes a better-than-expectef unemployment report moved yields higher. “As a federal funds futures rose aftedrthe report, signaling that the market expects the Federakl Reserve may raise its benchmark rate sooner rathedr than later.” A report from the this week showedc rising mortgage rates are slowing the demand for mortgagw refinancing.
Mortgage applications last weekfell 7.2 led by a 12 percent decliner in refinancing. Refinancing existing mortgages still makes up aboutg 60 percent of the mortgageunderwriting business.
says 30-year mortgages averaged 5.59 up from 5.29 percent last The last time long-terjm mortgage rates were this high wasin Adjustable-rate mortgages also with the average one-year ARM now at 5.04 “Mortgage rates followed the increase in bond yields this says Freddie Mac FRE) chief economist Frank Nothaft, who notes a better-than-expectef unemployment report moved yields higher. “As a federal funds futures rose aftedrthe report, signaling that the market expects the Federakl Reserve may raise its benchmark rate sooner rathedr than later.” A report from the this week showedc rising mortgage rates are slowing the demand for mortgagw refinancing.
Mortgage applications last weekfell 7.2 led by a 12 percent decliner in refinancing. Refinancing existing mortgages still makes up aboutg 60 percent of the mortgageunderwriting business.
Sunday, April 3, 2011
General Cable
http://www.ukengineeringindex.com/user_detail.php?u=weersglubre
Kenny exercised stock options for 48,000 sharesa with a $4 exercise price on Monday and immediately sold them for an average priceof $39.58. That netted him $1.7 millionb before taxes. He then sold another 7,10q shares on Tuesday for about $40.32 each for an additionalp $286,000. His timing was good, as General Cable'a stock price had been risingy steadily from a 2009 low ofabout $14 in earlhy March. It peaked Tuesday at more than $41 then lost grounsd on Wednesday, falling $2.30 to less than $39, as the broadert market also declined. According to the company's latesy proxy statement, as of March 1, Kenny beneficially owned morethan 600,00o shares of General Cablse stock.
That included about 66,000 restricted shares over whicjh he hadvoting power, 143,000 options exercisabld within 60 days, and 340,000 shares deferred under its deferred compensation plan. General Cable (NYSE: BGC), base in Highland Heights, is a global manufacturerr of cable and wire products for the telecommunications and specialtyindustrial
Kenny exercised stock options for 48,000 sharesa with a $4 exercise price on Monday and immediately sold them for an average priceof $39.58. That netted him $1.7 millionb before taxes. He then sold another 7,10q shares on Tuesday for about $40.32 each for an additionalp $286,000. His timing was good, as General Cable'a stock price had been risingy steadily from a 2009 low ofabout $14 in earlhy March. It peaked Tuesday at more than $41 then lost grounsd on Wednesday, falling $2.30 to less than $39, as the broadert market also declined. According to the company's latesy proxy statement, as of March 1, Kenny beneficially owned morethan 600,00o shares of General Cablse stock.
That included about 66,000 restricted shares over whicjh he hadvoting power, 143,000 options exercisabld within 60 days, and 340,000 shares deferred under its deferred compensation plan. General Cable (NYSE: BGC), base in Highland Heights, is a global manufacturerr of cable and wire products for the telecommunications and specialtyindustrial
Saturday, April 2, 2011
Texas awarded economic recovery funds for water infrastructure projects - Charlotte Business Journal:
http://www.ukwakefield.com/user_detail.php?u=idereelem
EPA officials say this new infusioj of money from the America Recovery and Reinvestment Act will help stater and local governments invest in a numbefr of overdue water projects that officials say are essentiaol to protecting public health andthe environment. The fundxs should also help boost the economy and create two of the qualifications for receivingstimulus funding. “Investing in the economy and the environment isa win-win,” EPA Actintg Regional Administrator Lawrence E. Starfield says. “These funds will not only help oureconomicd recovery, but they will help provide clean drinking water for communities throughout Texas.
” The fundx will be used toward the Drinking Waterd State Revolving Fund program, which provideds low-interest loans for drinking water systems to finance infrastructure The program places an emphasis on small and disadvantage communities and to programs that encourage pollutionb prevention. Nationwide, the EPA is furnishingg $2 billion to fund drinking water infrastructures projects across the country in the formof low-interesyt loans, principal forgiveness and At least 20 percent of the stimulus funds have been earmarke d for “green” infrastructure, waterf and energy efficiency improvements and other environmentally innovative
EPA officials say this new infusioj of money from the America Recovery and Reinvestment Act will help stater and local governments invest in a numbefr of overdue water projects that officials say are essentiaol to protecting public health andthe environment. The fundxs should also help boost the economy and create two of the qualifications for receivingstimulus funding. “Investing in the economy and the environment isa win-win,” EPA Actintg Regional Administrator Lawrence E. Starfield says. “These funds will not only help oureconomicd recovery, but they will help provide clean drinking water for communities throughout Texas.
” The fundx will be used toward the Drinking Waterd State Revolving Fund program, which provideds low-interest loans for drinking water systems to finance infrastructure The program places an emphasis on small and disadvantage communities and to programs that encourage pollutionb prevention. Nationwide, the EPA is furnishingg $2 billion to fund drinking water infrastructures projects across the country in the formof low-interesyt loans, principal forgiveness and At least 20 percent of the stimulus funds have been earmarke d for “green” infrastructure, waterf and energy efficiency improvements and other environmentally innovative
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