ejoxot.wordpress.com
Charlotte, N.C.-based Crescent Resources -- a joing venture of and that specializesin mixed-use developments -- said the move is part of its strategy to reduce debt and improve its capital structure. The bankruptcyu filing was made inthe U.S. Bankruptcy Court in the Western Districtof Texas, Austin Before the Chapter 11 filing, Crescent faced payments of $50 milliojn by the end of this $75 million in 2010 and $100 million in 2011 on its Crescent Resources has landed $110 million in debtor-in-possession financingt from a group of its existing which will provide sufficient funds to operate its ongoingh business activities.
Crescent Resources CEO Arthur Fields has retiree from the company and will continue to work with the companyt in anadvisory capacity. Andrew Hede, Crescent’s chief restructuring officer, will served as CEO. Hede, a managing director with , has more than 15 years of financial restructuring andbusinessz experience. “We have been in active discussionsd with our lenders and othe r stakeholders as we work towards an agreement that will bring our capital structur e in line with the currenteconomi environment,” Hede said in a news release.
Despite the unprecedented challenges facing the realestatr industry, we believe Crescent's underlying busineszs model is solid, and our assets remainm very attractive. We are encouraged that our lenders have agreed to provids additional funding to support our continued operations and allow us to maintaijn the high level of service and amenitiea our customers have cometo expect. We intend to reach an agreemenyt on our new capital structure and emerge frombankruptch quickly.” Life insurance giant could keep Crescent Resourcew as its joint development partner on the new 20-story Phippsz Tower, commercial real estate brokers and developers have said.
And Manulife has optionxs to see the building through to brokers and developershave said. Phipps Tower is a nearl y 500,000-square-foot building next to Phipps Plazain Atlanta’es posh Buckhead area. Crescent Resources is active in commerciakl and residential real estate developmeny and land management across the Southeastg and Southwest and hascreated mixed-use business and industrial parks, country-club communities, single-family neighborhoods and apartment and condo complexes. It has 38 residential communitiese under development inthe Carolinas, Texas, Florida and Arizona, and is currentlgy building 1,200 apartment It also owns 75,000 acres of Crescent has 264 employees.
Tuesday 30 October 2012
Sunday 28 October 2012
Caveman Diet: Stone Age Humans Ate Less Meat Than Previously Thought ... - Huffington Post
jiqatili.wordpress.com
Caveman Diet: Stone Age Humans Ate Less Meat Than Previously Thought ... Huffington Post The findings, published in the November issue of the American Journal of Physical Anthropology, may explain why many archaeologists estimate that prehistoric people got most of their calories from lean meat or fish when modern humans would be liter » |
Friday 26 October 2012
Business Health Care Group sees medical cost savings - The Business Journal of Milwaukee:
sucujovide.wordpress.com
Self-funded member companies saw an average increaseof 6.1 percenr in medical costs for 2007 following the organization’s secondd year with Louisville, Ky.-based insurer The however, is about 4 percent lower than the Milwaukee market trend, said Dianne Kiehl, executive directof of the Franklin-based group. Coupled with the 14 percent reduction reportedefor 2006, self-funded member companiess saved $32 million since partnering with Humana in Kiehl said. “We’ve clearly said our goal is to beat the trenfgoing forward, which we’ve done,” Kiehl said.
Numbers were reportec after anindependent third-partg research firm analyzed data from 18 of the coalition’a self-funded businesses, representing approximately 55,000 health plan members. The coalitiob lost one of its largest members, the city of in January. The city is fullt insured and goes out to bideveryt year. Humana was outbid. The group has 26 self-fundecd companies as of 2008. Self-funded companiesa accounted for 65 percent ofthe 92,000 healthg plan members enrolled in plans linked to Humana Preferred in 2007, the plan creates for the Business Health Care James Mueller, executive vice president of Hilb Roga & Hobbs, a Wauwatosa insurance broker, said the coalition’sx numbers are in line with what he’w seen with other self-funded
Self-funded member companies saw an average increaseof 6.1 percenr in medical costs for 2007 following the organization’s secondd year with Louisville, Ky.-based insurer The however, is about 4 percent lower than the Milwaukee market trend, said Dianne Kiehl, executive directof of the Franklin-based group. Coupled with the 14 percent reduction reportedefor 2006, self-funded member companiess saved $32 million since partnering with Humana in Kiehl said. “We’ve clearly said our goal is to beat the trenfgoing forward, which we’ve done,” Kiehl said.
Numbers were reportec after anindependent third-partg research firm analyzed data from 18 of the coalition’a self-funded businesses, representing approximately 55,000 health plan members. The coalitiob lost one of its largest members, the city of in January. The city is fullt insured and goes out to bideveryt year. Humana was outbid. The group has 26 self-fundecd companies as of 2008. Self-funded companiesa accounted for 65 percent ofthe 92,000 healthg plan members enrolled in plans linked to Humana Preferred in 2007, the plan creates for the Business Health Care James Mueller, executive vice president of Hilb Roga & Hobbs, a Wauwatosa insurance broker, said the coalition’sx numbers are in line with what he’w seen with other self-funded
Thursday 25 October 2012
Denver Business Journal: Denver Commercial Real Estate Listings - View Commercial Real Estate
sasutezew.blogspot.com
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Tuesday 23 October 2012
Kroger to build Marketplace in Harrison - The Business Journal of Milwaukee:
caloloary.blogspot.com
The acquisition revives a plan to builda 100,000-plus-square-foot superstorer along Interstate 74 in Western Hamilton Counth that was first announce d two years ago. Kroger closedd on the site May 29. It paid $3.3 milliojn to the . Jim Rahe of Cincinnati Commercial Realtors brokeredthe deal. Kroger confirmeed its plan for the Marketplace store in Harrisom but said other details were not yet It will take the place of an existinhg Krogersupermarket nearby. The Cincinnati-based grocery retailer beganb introducing Marketplace stores in Cincinnatiin 2006. The concept combines grocerie with furniture, linens, dinnerware and other non-food They compete with Walmart Supercenters.
Kroger KR) is the country’s largest operator of traditiona lgrocery stores, It operates about 2,500 supermarketes and general merchandise stores in 31
The acquisition revives a plan to builda 100,000-plus-square-foot superstorer along Interstate 74 in Western Hamilton Counth that was first announce d two years ago. Kroger closedd on the site May 29. It paid $3.3 milliojn to the . Jim Rahe of Cincinnati Commercial Realtors brokeredthe deal. Kroger confirmeed its plan for the Marketplace store in Harrisom but said other details were not yet It will take the place of an existinhg Krogersupermarket nearby. The Cincinnati-based grocery retailer beganb introducing Marketplace stores in Cincinnatiin 2006. The concept combines grocerie with furniture, linens, dinnerware and other non-food They compete with Walmart Supercenters.
Kroger KR) is the country’s largest operator of traditiona lgrocery stores, It operates about 2,500 supermarketes and general merchandise stores in 31
Monday 22 October 2012
M&T Bank shutters six Provident Bank branches - Nashville Business Journal:
aleshnikovenil.blogspot.com
area and will take the next year and a half to decidew whether to shutter others in the region following its acquisitiojof “Over the next 18 months, we’re going to take a very studiec look at what makes sense,” said Atwood “Woody” Collines III, president and chief operating officer of M&T’s mid-Atlantic division. “We don’t have any numbere in mind,” he said, when asked aboutg possible future branch closings duringf a May 27 visit withother M&T executivea to a former Provident branch on 36th Street in “We’ll evaluate each and every one.
” Buffalo-based the second-largest bank in Greater Baltimore, completed its $401 milliob takeover of Provident, the area’s May 23. The deal expands M&T’s footpring in the region and also retirews one of the most storied names in Baltimore relegating Provident to the list of locally owned bankinggiants — like , Marylans National and First Maryland — scooped up over the year by out-of-town rivals. M&T has said it will eliminates 521 ofthe 1,600 jobs at Provident, about 29 percen t of Provident’s work force.
Most of thoser job were eliminated as of the close of business onMay 23, Phil an M&T spokesman said May 27, with “ a small number” staying on to help with the The departments affected includer human resources, banking services, finance and information Hosmer said. Workers whose jobs are being eliminated will get the firs crack at jobs at bank officialshave said. Outplacement firm DBM held a career fairfor laid-of f Provident workers on April 24 and is schedule d to hold a second one on June 24 at Martin’es West. Adding Provident’s 135 branches and its $4.
6 billiojn in deposits gives M&T 300 branches in the Baltimore-Washington area and boost its Baltimore-area market share to about 17 percent, up from 10.7 That’s second only to , which has a 25.6 perceny share of the Baltimore market. But as much as bank mergeras are about adding customersand deposits, they’rs often fueled by a desire to save on costs. Bankingt experts expect M&T to closde an unknown number ofadditional branches, especiallty in areas where M&T and formerf Provident branches are located nearby. “Wherse you have overlap, it make s sense to consolidate,” said Bert Ely, an Va.-based banking consultant.
“They’re going to try to maximizew profits, operate efficiently and grab as much market share as they Collins said that the six shuttered branches three inPrince George’s County and one each in Montgomerty County; Charles County; and Fairfax County, Va. were each within a mile of anexisting M&T In a research note on December 22, after the deal was announced, Albert Savastano, a bankinh analyst with Fox-Pitt Kelton Cochran Caronia and Waller, notee that M&T expects to be able to shavew 45 percent off Provident’s $93 million a year in operating “We would not be surprised if the cost savingsd estimates turn out to be Savastano wrote.
But as M&g looks to rein in it is also working hard to retain Provident customersd likeChris Bohaska, of Perry Hall. M&Tr dispatched about 420 workers from around its networm to descend on the region to smootjh the transition for customerslike Bohaska, 50, a Provideny customer since childhood.
area and will take the next year and a half to decidew whether to shutter others in the region following its acquisitiojof “Over the next 18 months, we’re going to take a very studiec look at what makes sense,” said Atwood “Woody” Collines III, president and chief operating officer of M&T’s mid-Atlantic division. “We don’t have any numbere in mind,” he said, when asked aboutg possible future branch closings duringf a May 27 visit withother M&T executivea to a former Provident branch on 36th Street in “We’ll evaluate each and every one.
” Buffalo-based the second-largest bank in Greater Baltimore, completed its $401 milliob takeover of Provident, the area’s May 23. The deal expands M&T’s footpring in the region and also retirews one of the most storied names in Baltimore relegating Provident to the list of locally owned bankinggiants — like , Marylans National and First Maryland — scooped up over the year by out-of-town rivals. M&T has said it will eliminates 521 ofthe 1,600 jobs at Provident, about 29 percen t of Provident’s work force.
Most of thoser job were eliminated as of the close of business onMay 23, Phil an M&T spokesman said May 27, with “ a small number” staying on to help with the The departments affected includer human resources, banking services, finance and information Hosmer said. Workers whose jobs are being eliminated will get the firs crack at jobs at bank officialshave said. Outplacement firm DBM held a career fairfor laid-of f Provident workers on April 24 and is schedule d to hold a second one on June 24 at Martin’es West. Adding Provident’s 135 branches and its $4.
6 billiojn in deposits gives M&T 300 branches in the Baltimore-Washington area and boost its Baltimore-area market share to about 17 percent, up from 10.7 That’s second only to , which has a 25.6 perceny share of the Baltimore market. But as much as bank mergeras are about adding customersand deposits, they’rs often fueled by a desire to save on costs. Bankingt experts expect M&T to closde an unknown number ofadditional branches, especiallty in areas where M&T and formerf Provident branches are located nearby. “Wherse you have overlap, it make s sense to consolidate,” said Bert Ely, an Va.-based banking consultant.
“They’re going to try to maximizew profits, operate efficiently and grab as much market share as they Collins said that the six shuttered branches three inPrince George’s County and one each in Montgomerty County; Charles County; and Fairfax County, Va. were each within a mile of anexisting M&T In a research note on December 22, after the deal was announced, Albert Savastano, a bankinh analyst with Fox-Pitt Kelton Cochran Caronia and Waller, notee that M&T expects to be able to shavew 45 percent off Provident’s $93 million a year in operating “We would not be surprised if the cost savingsd estimates turn out to be Savastano wrote.
But as M&g looks to rein in it is also working hard to retain Provident customersd likeChris Bohaska, of Perry Hall. M&Tr dispatched about 420 workers from around its networm to descend on the region to smootjh the transition for customerslike Bohaska, 50, a Provideny customer since childhood.
Sunday 21 October 2012
Missouri unemployment worsens, but slows - Puget Sound Business Journal (Seattle):
sunrise-invoices.blogspot.com
The state’s seasonally adjusted unemployment rate increasedc to 9 percentin May, up from 8.1 perceng in April, the department reported Monday. April’ s 0.6-point decrease in unemployment nowappear anomalous, with the May increase part of an upward trends dating to mid-2008, state officials said. Approximately 272,000p Missourians were estimated to have been joblessx during the monthof May.
Nonfarm payroll employmenf decreasedby 3,700 jobs in May, markinb the smallest monthly decrease since employmenf began to drop sharply in Job losses were concentrated in manufacturing (3,700) and constructiobn (1,600), which were partly offset by gains in health care and social assistance (2,000) and local government During the past year, employment dropped by 74,300p jobs, or 2.7 percent. The main exceptionsz to the downward trend in the past year have been private educationalservices (2,500), health care and socialk assistance (6,000), federal government (2,700) and local government The national unemployment rate in May was 9.
4
The state’s seasonally adjusted unemployment rate increasedc to 9 percentin May, up from 8.1 perceng in April, the department reported Monday. April’ s 0.6-point decrease in unemployment nowappear anomalous, with the May increase part of an upward trends dating to mid-2008, state officials said. Approximately 272,000p Missourians were estimated to have been joblessx during the monthof May.
Nonfarm payroll employmenf decreasedby 3,700 jobs in May, markinb the smallest monthly decrease since employmenf began to drop sharply in Job losses were concentrated in manufacturing (3,700) and constructiobn (1,600), which were partly offset by gains in health care and social assistance (2,000) and local government During the past year, employment dropped by 74,300p jobs, or 2.7 percent. The main exceptionsz to the downward trend in the past year have been private educationalservices (2,500), health care and socialk assistance (6,000), federal government (2,700) and local government The national unemployment rate in May was 9.
4
Friday 19 October 2012
Savage front-runner in Halifax mayoral race: polls - CTV News
adepylex.blogspot.com
CTV News | Savage front-runner in Halifax mayoral race: polls CTV News HALIFAX -- As of Saturday, the largest city in Atlantic Canada will have a new mayor. And if the polls are right, former Liberal MP Mike Savage -- son of former Nova Scotia premier John Savage -- will soon be wearing the chain of office for the Halifax ... Expert: New mayor must be a leader Just one more day of b » |
Thursday 18 October 2012
Fed emails critical of BofA, Lewis - Kansas City Business Journal:
bertayfybuqutyp.blogspot.com
The email messages were entered into the publivc record as partof Thursday’zs hearing held by the U.S. House Committee on Oversighy andGovernment Reform. Lewis testified for aboutt three hours regardingthe government’s role in BofA’sw purchase of Merrill, saying governmen t pressure to go through with the deal was a factort in his decision. But emails from variouz high-ranking Federal Reserve officials suggest regulators thought Lewie was bluffing when he considereds backing out of theMerrill deal.
“Ken Lewis’ claim that they were surprisee by the rapid growth of thelosse (at Merrill) seems somewhat suspect,” Fed senior banking supervisor Tim Clark states an e-mail to other regulators. “Ig calls into question the adequacy of the due diligenc process BAC has been doingy in preparation forthe takeover.” Another emai from Fed counsel Scott Alvarez to Fed Chairmab Ben Bernanke says of Lewis: “Making hard decisions is what he gets paid for ... we shouldn’r take him off the One email says Lewis used the threayt to call off the Merrill merger asa “bargainin chip.” In testimony Thursday, Lewis denied using Merrill as a bargaininb chip.
Instead, he says his concerns about the dealwere justified, but bank and federakl officials agreed proceeding with the purchase using taxpayer aid was in the best interesgt of the financial system and N.C.-based BofA (NYSE:BAC).
The email messages were entered into the publivc record as partof Thursday’zs hearing held by the U.S. House Committee on Oversighy andGovernment Reform. Lewis testified for aboutt three hours regardingthe government’s role in BofA’sw purchase of Merrill, saying governmen t pressure to go through with the deal was a factort in his decision. But emails from variouz high-ranking Federal Reserve officials suggest regulators thought Lewie was bluffing when he considereds backing out of theMerrill deal.
“Ken Lewis’ claim that they were surprisee by the rapid growth of thelosse (at Merrill) seems somewhat suspect,” Fed senior banking supervisor Tim Clark states an e-mail to other regulators. “Ig calls into question the adequacy of the due diligenc process BAC has been doingy in preparation forthe takeover.” Another emai from Fed counsel Scott Alvarez to Fed Chairmab Ben Bernanke says of Lewis: “Making hard decisions is what he gets paid for ... we shouldn’r take him off the One email says Lewis used the threayt to call off the Merrill merger asa “bargainin chip.” In testimony Thursday, Lewis denied using Merrill as a bargaininb chip.
Instead, he says his concerns about the dealwere justified, but bank and federakl officials agreed proceeding with the purchase using taxpayer aid was in the best interesgt of the financial system and N.C.-based BofA (NYSE:BAC).
Wednesday 17 October 2012
A three day adventure with a free-range turkey - Otago Daily Times
ovaluleq.wordpress.com
Otago Daily Times | A three day adventure with a free-range turkey Otago Daily Times Sophie Edmonds The following is an accurate account of my adventures with a 4.5kg free-range Crozier's turkey. Two weeks ago, I received an email from the ODT asking if I wanted a free-range Crozier's turkey to write about for this blog. Somewhat ... |
Monday 15 October 2012
Emergent BioSolutions anthrax vaccine gets boost - San Antonio Business Journal:
ysynut.wordpress.com
The Rockville-based company’s BioThrax has been granted a shelf life extensionh from the from its current thred yearsto four. Under its contract with the Department of Healtg andHuman Services, the extension trigger a milestone payment of $30 million for dose s of the vaccine already delivered to the Strategix National Stockpile. Emergent expectas to record that payment as revenuethis quarter. The shelf life extensiohn also allows Emergent to charge more for futurr doses of the vaccine delivered tothe government’a stockpile. That could raise the value of the contract to as muchas $405 million over the next severall years.
Last year, the FDA approved a reduced vaccinatiom schedule tofive doses. Emergent continuezs research that could lead to a furthe r reduction in the number ofdoses required, as well as the vaccine’ws use to treat patientws after being exposed to Anthrax, not just as a pre-exposures vaccine. Emergent has supplied the government’e stockpile with 33 million doses of BioThraxso far. It is contractede to continue adding to stockpiles throughlate 2011. BioThradx has been used to vaccinate more than 2 millionm military personnel since the government firstg started buying the vaccinein 1998. Emergen stock (NYSE: EBS) was up 90 cents to $14.633 per share in afternoon trading.
The Rockville-based company’s BioThrax has been granted a shelf life extensionh from the from its current thred yearsto four. Under its contract with the Department of Healtg andHuman Services, the extension trigger a milestone payment of $30 million for dose s of the vaccine already delivered to the Strategix National Stockpile. Emergent expectas to record that payment as revenuethis quarter. The shelf life extensiohn also allows Emergent to charge more for futurr doses of the vaccine delivered tothe government’a stockpile. That could raise the value of the contract to as muchas $405 million over the next severall years.
Last year, the FDA approved a reduced vaccinatiom schedule tofive doses. Emergent continuezs research that could lead to a furthe r reduction in the number ofdoses required, as well as the vaccine’ws use to treat patientws after being exposed to Anthrax, not just as a pre-exposures vaccine. Emergent has supplied the government’e stockpile with 33 million doses of BioThraxso far. It is contractede to continue adding to stockpiles throughlate 2011. BioThradx has been used to vaccinate more than 2 millionm military personnel since the government firstg started buying the vaccinein 1998. Emergen stock (NYSE: EBS) was up 90 cents to $14.633 per share in afternoon trading.
Sunday 14 October 2012
Firm started by ex-49ers Montana, Lott in workout with Silicon Valley Bank - Silicon Valley / San Jose Business Journal:
fixyruw.wordpress.com
million owed to it by a privately-helrd investment firm started by former 49er staraJoe Montana, Ronnie Lott and Harrisa Barton named . The Santa Clara-based holding companyg for (NASDAQ:SIVB) said in a government filing that it has proposedr an arrangementwith Woodside-based HRJ in which the bank woulr provide management services to and form a limitexd partnership with the firm. SVB said it woulf get management fees from the arrangement which woulx repay part ofthe debt. HRJ would be allowesd access to a workintg capital loan for ongoing operations for alimiter time.
A private equityg newsletter publishedby Reuters, PE WeekWire, reported that the firm ran into troubler on a bridge loan with SVB while tryint to raise $250 million. The report said HRJ was only able to raisbetween $110 million and $130 million. HRJ was originallyu Champion Ventures when Lott and Bartojn founded it in 1999 and changed its name after Montana joinedthe firm. Montans left HRJ in 2006.
million owed to it by a privately-helrd investment firm started by former 49er staraJoe Montana, Ronnie Lott and Harrisa Barton named . The Santa Clara-based holding companyg for (NASDAQ:SIVB) said in a government filing that it has proposedr an arrangementwith Woodside-based HRJ in which the bank woulr provide management services to and form a limitexd partnership with the firm. SVB said it woulf get management fees from the arrangement which woulx repay part ofthe debt. HRJ would be allowesd access to a workintg capital loan for ongoing operations for alimiter time.
A private equityg newsletter publishedby Reuters, PE WeekWire, reported that the firm ran into troubler on a bridge loan with SVB while tryint to raise $250 million. The report said HRJ was only able to raisbetween $110 million and $130 million. HRJ was originallyu Champion Ventures when Lott and Bartojn founded it in 1999 and changed its name after Montana joinedthe firm. Montans left HRJ in 2006.
Friday 12 October 2012
University of Florida third in athletic revenue - Austin Business Journal:
shemwellmygalej1291.blogspot.com
UF generated the third-highest revenue in college football and in overallosports earnings, according to a report Monday in Streetg & Smith’s SportsBusiness Journal. SportsBusineszs Journal, citing Equity in Athletics Disclosure Act said UFreported $66.1 millionj in football revenue in 2007-2008, behind only the ($72.9 million) and rival ($67.1). Texasw was also the overalk top sports earnerwith $120.3 million generatecd from all athletic teams. Ohio State was second with $117.9o million and Florida was third with $106 million. UF won collegr football national championships after the 2006 and 2008 regular andwon back-to-back men’s basketball national titles in 2006 and 2007.
Othet Southern schools ranking in the top 20 in overallk sportsrevenues were: (7th, $89.3 million), $88.9 million), (9th, $88.u8 million) and (12th, $84.2 million). Other Southeastern Conferences schools among the top 10 earners in football wereAuburhn (No. 6 with $59.7 million), Alabama (No. 8 with $57.45 million) and LSU (No. 10 with $52.7 The remaining top 10 teams in footballrevenuexs were: (No. 4 with $65.q million), (No. 5 with $59.8u million), (No. 7 with $ 57.4 million) and (No. 9 with 53.
8 SportsBusiness Journal is a sister publication of the JacksonvilleBusiness
UF generated the third-highest revenue in college football and in overallosports earnings, according to a report Monday in Streetg & Smith’s SportsBusiness Journal. SportsBusineszs Journal, citing Equity in Athletics Disclosure Act said UFreported $66.1 millionj in football revenue in 2007-2008, behind only the ($72.9 million) and rival ($67.1). Texasw was also the overalk top sports earnerwith $120.3 million generatecd from all athletic teams. Ohio State was second with $117.9o million and Florida was third with $106 million. UF won collegr football national championships after the 2006 and 2008 regular andwon back-to-back men’s basketball national titles in 2006 and 2007.
Othet Southern schools ranking in the top 20 in overallk sportsrevenues were: (7th, $89.3 million), $88.9 million), (9th, $88.u8 million) and (12th, $84.2 million). Other Southeastern Conferences schools among the top 10 earners in football wereAuburhn (No. 6 with $59.7 million), Alabama (No. 8 with $57.45 million) and LSU (No. 10 with $52.7 The remaining top 10 teams in footballrevenuexs were: (No. 4 with $65.q million), (No. 5 with $59.8u million), (No. 7 with $ 57.4 million) and (No. 9 with 53.
8 SportsBusiness Journal is a sister publication of the JacksonvilleBusiness
Thursday 11 October 2012
(207) Destructive feng shui - Korea Times
ikefageze.blogspot.com
Korea Times | (207) Destructive feng shui Korea Times This destructive environment provides harmful energy that could affect the destiny of a whole city. The continuing construction of significant buildings with destructive feng shui is alarming. Information: Are you interested in learning more about the ... |
Wednesday 10 October 2012
Fledging electric car market in turmoil with few buyers - AFP
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Fledging electric car market in turmoil with few buyers AFP Fledging electric car market in turmoil with few buyers. By Joseph Szczesny (AFP) â€" 2 minutes ago. DETROIT, Michigan â€" The fledgling electric car business is in turmoil as predictions about potential sales have proven to be wildly optimistic despite ... |
Monday 8 October 2012
Most Eddie Bauer stores to stay open - Charlotte Business Journal:
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The company announced that it struck an agreementt withNew York–based private equity firm LLC to buy Eddide Bauer’s assets, subject to an auction and bankruptcyh court approval. CCMP Capital intends to operate the business as a going concerj with little orno long-term According to Eddie Bauer, CCMP Capital has agreed to keep a majorit of the 371 storeas open and retain a majority of the CCMP Capital specializes in buyout and looks for investment opportunities in retail and other sectors, and have made investmenta in the outdoors specialty retailer which sells hunting, fishingf and camping gear.
Eddie Bauer said it hopesz to operate business as usual during bankruptcyh court proceedings and has askedx for court approval to continue paying vendors and The company also said it intendsa to honor customergift cards, returnsw and loyalty program points. The company also announcedd that it has secured a commitment from its existingy revolvingcredit lenders, Bank of America, N.A., and /Business Inc. for so-called debtor-in-possession (DIP) financing of $90 million on an interim basisand $100 million basexd on the final court The move, the company said, should provide it with ample cash flow to continue payinf its bills.
“Eddie Bauer is a good companyh with a great brand and a badbalancer sheet. This process will allow the business to emerge with farless debt, positioned for growthn as the economy recovers and as our new productas gain traction,” said Neil Eddie Bauer president and chiefg executive officer, in a “We expect this process to be completeed very quickly, protecting our employees and criticalp vendor partners every step of the way.
“We have made good progresse on our turnaround strategy of returning Eddiee Bauer to its heritage as an activre outdoor brand and have exciting new product launches on the way to includingFirst Ascent, our return to expedition-gradew outerwear and gear. Unfortunately, a crushing debt burdem placed on the company from the Spiegel reorganization in combined with the prolonged recession, have left us with no choice but to use this procesz to reduce the debt load on the
The company announced that it struck an agreementt withNew York–based private equity firm LLC to buy Eddide Bauer’s assets, subject to an auction and bankruptcyh court approval. CCMP Capital intends to operate the business as a going concerj with little orno long-term According to Eddie Bauer, CCMP Capital has agreed to keep a majorit of the 371 storeas open and retain a majority of the CCMP Capital specializes in buyout and looks for investment opportunities in retail and other sectors, and have made investmenta in the outdoors specialty retailer which sells hunting, fishingf and camping gear.
Eddie Bauer said it hopesz to operate business as usual during bankruptcyh court proceedings and has askedx for court approval to continue paying vendors and The company also said it intendsa to honor customergift cards, returnsw and loyalty program points. The company also announcedd that it has secured a commitment from its existingy revolvingcredit lenders, Bank of America, N.A., and /Business Inc. for so-called debtor-in-possession (DIP) financing of $90 million on an interim basisand $100 million basexd on the final court The move, the company said, should provide it with ample cash flow to continue payinf its bills.
“Eddie Bauer is a good companyh with a great brand and a badbalancer sheet. This process will allow the business to emerge with farless debt, positioned for growthn as the economy recovers and as our new productas gain traction,” said Neil Eddie Bauer president and chiefg executive officer, in a “We expect this process to be completeed very quickly, protecting our employees and criticalp vendor partners every step of the way.
“We have made good progresse on our turnaround strategy of returning Eddiee Bauer to its heritage as an activre outdoor brand and have exciting new product launches on the way to includingFirst Ascent, our return to expedition-gradew outerwear and gear. Unfortunately, a crushing debt burdem placed on the company from the Spiegel reorganization in combined with the prolonged recession, have left us with no choice but to use this procesz to reduce the debt load on the
Sunday 7 October 2012
Hafeez decided to drop me, says angry Razzaq - Cricketnext.com
xotavaloso.blogspot.com
Zee News | Hafeez decided to drop me, says angry Razzaq Cricketnext.com Hafeez decided to drop me, says angry Razzaq. Press Trust Of India | Updated Oct 07, 2012 at 10:25am IST. Story. Hafeez decided to drop me, says angry Razzaq Click to expand. Tweet. Lahore: The first signs of discontent in the Pakistan team after its ... Team management deci ded on Razzaq: Hafeez |
Friday 5 October 2012
April Jones: Search for missing girl resumes - BBC News
titus-neither.blogspot.com
April Jones: Search for missing girl resumes BBC News A fresh search for missing five-year-old April Jones gets under way at daybreak with hundreds of specialist search officers involved. It follows a decision by police to suspend night-time searches for April who was last seen on Monday evening near her ... |
Thursday 4 October 2012
Feds charge 91 healthcare providers with billing fraud - Los Angeles Times
llrx-royce.blogspot.com
CBS Local | Feds charge 91 healthcare providers with billing fraud Los Angeles Times WASHINGTON â€" A federal healthcare strike force has charged 91 doctors, nurses and other licensed medical professionals in a nationwide sweep in connection with fraudulently billing the government nearly $430 million. Those charged included a group in ... FBI A rrests 15 in Multi-Million Dollar Healthcare Fraud Posted: October 4, 2012 - 2:15 pm ET |
Wednesday 3 October 2012
GSI details revenue errors, probe widens - Atlanta Business Chronicle:
ikefageze.blogspot.com
The Bedford, Mass.-based companhy also said its legal counsel and audit committee were reviewinfg revenue bookings within its precision technologyy division for the same periods to determined whether similar adjustmentsare needed. GSI (Nasdaq: GSI) said the affected revenud stemmed from accounting errors and the timing recordexd forcertain transactions. Expecterd adjustments include: The situation has caused the company to delahy the release of its financial resultsto regulators. Last GSI said it was nearing a poinyt when it could restate those results and submigt to regulators results from its fiscalp first quarter endedApril 3.
Nonetheless, the compan y said its filing delays have prompteed a delisting notice from the and triggered negotiations with creditor to restructureits . GSI said in its regulator filing Tuesday that on June 11 it stood before the Nasdaq’s Listing Qualifications Panel to request a stay of its pending delisting. The company is still awaiting a rulinbg onthe matter. In June, GSI said a declin e in bookings in the fourth and firstr quarters forced it to restructure its operations and shave millions in costs from its The company cut 158 workerxs in the first quarter and anotheer 16 employeesin April. Those changes will resultr in roughly $9 million in annuap savings.
The Bedford, Mass.-based companhy also said its legal counsel and audit committee were reviewinfg revenue bookings within its precision technologyy division for the same periods to determined whether similar adjustmentsare needed. GSI (Nasdaq: GSI) said the affected revenud stemmed from accounting errors and the timing recordexd forcertain transactions. Expecterd adjustments include: The situation has caused the company to delahy the release of its financial resultsto regulators. Last GSI said it was nearing a poinyt when it could restate those results and submigt to regulators results from its fiscalp first quarter endedApril 3.
Nonetheless, the compan y said its filing delays have prompteed a delisting notice from the and triggered negotiations with creditor to restructureits . GSI said in its regulator filing Tuesday that on June 11 it stood before the Nasdaq’s Listing Qualifications Panel to request a stay of its pending delisting. The company is still awaiting a rulinbg onthe matter. In June, GSI said a declin e in bookings in the fourth and firstr quarters forced it to restructure its operations and shave millions in costs from its The company cut 158 workerxs in the first quarter and anotheer 16 employeesin April. Those changes will resultr in roughly $9 million in annuap savings.
Monday 1 October 2012
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