Monday, April 30, 2012
NHL players union: Pull the plug on Phoenix Coyotes - Kansas City Business Journal:
The Coyotes are in Chapter 11 bankruptcy reorganization havinvglost $316 million since moving to Arizona from Winnipeg in 1996. A deal is in the worksz to move the teamto Hamilton, Ontario. “From a perspective, it’s time to pull the Kelly toldThe (Hamilton) Spectator. Kelly did not endors a move to aspecific market, but questionecd whether the Coyotes can be financiallyy viable in Arizona. Research in Motion CEO Jim Balsillie isofferingt $213 million for the team and would move it from Glendal e to Hamilton. The National Hockey Leaguw and city of Glendale oppose the move and want to find ownerxs that would keep the teamin Arizona.
Coyotes ownet Jerry Moyes put the team into Chapteer 11in May. NHL Commissionetr Gary Bettman is fighting the sale to Balsillie saying hockey can be viable in thePhoenix
Saturday, April 28, 2012
Is Lenovo still No. 3? Depends on who you ask - Triangle Business Journal:
But another research company, , gave the company's Taiwanese , the edge. Chinese-owned which claims a world headquarters in Morrisville though its stock trades inHong Kong, had 8.2 percentg of the worldwide PC according to IDC. Acer had 8.1 But Gartner figures give Aceran 8.1 percentt market share, while Lenovo came in at 8.0 percent. Eithet way, the figures aren't good news for which has been in a seesawe battle with Acer for theworld No. 3 spot behind and The company had fallen behindc Acer in the first quarter but reclaimes its position in the second quarter with asolidr performance.
And Acer has a major advantagwemoving forward: It recently closed on the acquisition of California PC maker . That will grow Acer'sx market share in the U.S. It also , where it had been eyeinhg a purchase of Dutch PCmakeer . Gateway, however, owns the right of first refusal to anyPackard deal, and it recentlyg said it's made a binding offer to purchase the Lenovo employs about 1,300 in
Thursday, April 26, 2012
Medvedev Boasts and Admits Flaws of Reign - The Moscow Times
Medvedev Boasts and Admits Flaws of Reign The Moscow Times By Nikolaus von Twickel Freedom and democracy are on the way up, corrupt governors are headed out and the country's political culture has improved, outgoing President Dmitry Medvedev said Thursday in summarizing his four years in office. |
Wednesday, April 25, 2012
D.C. area office vacancies reach 12.3% - Atlanta Business Chronicle:
The commercial real estate services firm says theWashingtomn region’s office vacancy rate has now reached 12.3 percent. Leas losses in the last three quarterwsmeant “virtually negating any growth in net demandr we had in 2008,” said Kevibn Thorpe, director of market research for Cassidty & Pinkard Colliers. “There are flickering signas that the local economy may be reaching an inflectiom point where conditions should begin to but the commercial industry still has a ways to go beforde demand returns in ameaningfuk way.” In D.C., net absorption was negative 230,90 0 square feet, pushing D.C.’xs vacancy rate to 9.6 percent.
In Northerhn Virginia, net absorption was negativre 666,700 square feet. Northern Virginia’s seconx quarter office vacancy rate climbedto 13.6 percent. Suburban Maryland’e office vacancy rate was 14 percent, with a positivr net absorption rateof 171,500 square feet in the seconx quarter. Thorpe predicts the growth in federall government will lead to an increase in demand forofficr space, but says the Washington area has more new space delivering over the next two year than any other market in the country. As a “we are entering into a period of steady rent he said.
Monday, April 23, 2012
Fannie, Freddie toughening rules for condo buyers to qualify for loans - Business First of Columbus:
They say and are making rule changess that will slow any recovery of thehousingv market, even if the changes are designed to protectf condo purchasers. “It make it far more difficult to get people qualifiec when they adjust the rules andregulations midstream,” said Tré Giller, president of Westerville condo developere Village Communities. Starting July 1, McLean, Va.-based Freddie Mac will only buy or guarante e mortgages for condos in new developmentsd that are at least 70 percent a change from its 51percenrt requirement. It is a move that followa a March 1 rule changeby Washington, D.C.-based Fannied Mae that does the same.
Because Fannie Mae and Freddide Mac own or guarantee nearlyh halfthe nation’s mortgages, the changes are expectefd to curtail new-condo sales and development. Condo sales in Centralk Ohio have been slowing for some Approximately 2,750 units were sold last year, according to the , down 22 percen t from nearly 3,530 sold in 2007. Through the firsg four months of 2009, 537 condos were sold, thougyh the prime selling season hasjust begun. As far as Giller is the rule change is having aneffecg already. “There’s no question that when you make changees to the qualifications and regulations for there is a ripple effect in the he said.
Many condoi developers rely on buyers getting financingthroughh Fannie, Freddie or a bank that plans to sell the mortgages to Fannie or Freddie, so the rule changs will have a big Village Communities sets up its condo projects so purchasers can get financingy through the , which doesn’t have the restrictionas that Fannie Mae and Freddie Mac do, Giller Nevertheless, Giller worries buyers will be turned off to condosz because they’ll think all projecta need to be 70 percenr presold. “Anything that negatively affects the market as a wholed negativelyaffects me,” he said. Fannie Mae and Freddiew Mac say the new rulez arenot unprecedented.
The 51 percent presold requirement has been in plac onlysince 2005, said Fannir Mae spokeswoman Amy Bonitatibus. Prior to it was 70 “The updated condo requirements take into account the significan t oversupply of condominiumunits nationwide, as well as the large numberr of condo developments that are only partially complete or occupied,” Bonitatibus said in an e-mail response to Columbus Business First.
“Fannie Mae’as presale guidelines are aimed at protecting prospective condi buyers from investing in projects that have a higher risk of Indowntown Columbus, is building 265 condoxs at the corner of North Fourtg and Gay streets as part of its Neighborhood Launch while Columbus-based is building 76 condos on South Front Streeft as part of its Anne at River South development. Jay McIntirer is president of Columbus-based Builderse Financial Corp., which is helpinhg buyers find financing for the Annex While sales may slow because of the rule McIntire thinks Central Ohio willbe fine.
“Thed new rules are driven by overdevelopesd markets in Florida and the Sun Beltwhere (developments) were fullty built out but only 50 percent he said. Kelly Cantwell, a real estate agent with ’se 4forU Team in Columbus, said the effecte of the rule change reachy beyond newcondo buildings. “The ones that are severely impactexd are some of these bigger developments that areapartmenrt conversions,” Cantwell said. The Enclave Condominiums on Bethelk Road is onesuch development. Cantwell client Laurem Talicska tookan $8,000 loss when she sold her residenced there in May because she had to sell to an investor instead of a buyer.
The ownef occupancy rate at the Enclave was too low to qualifyy for Fannie Maemortgagre financing, Talicska said. A buyer would have had to put down 20 or $16,000, on her $80,000 Talicska ended up sellinyg the unit to an investorr who plans to rent it out for $775 a “I thought it was going to be easy becausd (the unit) is well decorated and good quality,” Talicska “I feel bad for the (owners) still here and for selliny to an investor,” she said.
“But I feel luckyt I got out and onlylost
Saturday, April 21, 2012
Dailies diversify in the face of falling ad dollars - The Business Review (Albany):
Nationally, paid circulation is at a 62-year low, after dippingh 3.5 percent in the six months endedMarch 30. Advertising revenued fell 9.6 percent in 2007, and many indicators poin t to aworse 2008. In the first quarter, ad revenuew dropped 14 percent. In response, paperss across the country, and locally, have cut Changing lifestyles, alternative news sources, rising costs and the troubledr economy have come together to challengs an industry once considered acash cow. And yet, the Times the area's largest daily, is investing $60 million in a building expansion and new Publisher Mark Aldam said this is not a denia ofthe industry's problems, but a response to them.
All he said, need to diversify. One of the Timex Union's plans is to go after commercialprintingg business. The paper also has createrd a search engine marketing introduced alifestyle magazine, struck a distribution deal with two and enhanced its Web site. "You first have to confronyt reality," Aldam said. "And then you have to figure out what to dowith First, the bad news The reality is ratherf grim. "I've been doing this for 28 years and this is as challengingv as I have ever seen saidDaniel Beck, general manager of The in Circulation nationally has declined or held flat every year sinces 1988, losing 20 percent in that according to the .
Experts have pointed to busier tighter budgets, telemarketing laws that have restricted subscriptionh sales efforts, and the growth of Interneyt and cable news. Since the Times Union, Gazette and five other area papers for which comparativre figures are available had a combinedd circulation loss of more than12 percent. Surveys show that overallo readershipis up, if Web sites are Publishers have poured resources into their Web editionsx to keep up with a society that expectsx to find news online, for free. But Web sitex can pull from paid circulation. And while online advertising is it is not making up for lossea on theprint side. NAA figures show that whilee print advertising fellby $4.
5 billion in 2007, newspaper Web advertisintg increased by only $400 million. Print classifiedws took the biggest drop, fallint 16.5 percent in 2007. Much of this activity movecd to Internet sites such as The real estate and automotive categoriezs have been particularly hard hit bythe economy. retailers and other traditional display advertisers also are holding Aldam declined toprovide figures, but said the Timesw Union's ad revenue is "worse than our planned expectations." "Thse question is, are we squeezing out what newspapers were destined to lose to the Interne anyway, but sooner than we would have becausre of the economy?
" he "In the past, we coulds look forward to ad revenue returningt when the economy bounced back. But will it this time, with so many new medis optionsout there?" Meanwhile, newsprint prices have One source put the price of one grade of newspringt at $743 per metric ton, up from $688 in May. Add that to gas pricezs and otherrising costs, and profit margins that once averaged 25 percent are fallingt into the mid-teens. "Newspapers are in said John Kimball, chief marketing officer for the NAA. "Their businesxs model is based on one but we are dealing with another How do you get your arms aroundr the newbusiness model?
" Many newspapers began by trimmintg costs. More than 3,600 newspape r jobs have been cutthis decade, througg the end of 2007, and the pace has Cuts, to name a few, include 150 at 1,400 at , which owns the , and 28 130 at the , etc. In June, announced 57 cuts--orr 25 percent of the newsroom. the Times Union accepted buy-outss from 25 employees and laid off six production The Gazette laid off six in followinga 12-person cut a year earlier. It also has reducede its staff through attrition over the past few and actually employs half the people it did adecade ago.
Thursday, April 19, 2012
Michael Foley funeral: Soldier shot by Afghan serviceman - BBC News
BBC News | Michael Foley funeral: Soldier shot by Afghan serviceman BBC News L/Cpl Michael Foley, 25, from the Adjutant General's Corps, was one of two servicemen shot dead by a rogue Afghan soldier last month. Burnley-born L/Cpl Foley served much of his military career at Dalton Barracks near Abingdon. |
Wednesday, April 18, 2012
Grimm's Bree Turner Moves From Guest Star To Series Regular - Cinema Blend
Cinema Blend | Grimm's Bree Turner Moves From Guest Star To Series Regular Cinema Blend The 35-year-old actress most recently showed up NBC's Grimm for a guest starring role. Turns out the show has liked what they have seen from the actress, and Grimm now has plans to keep her around. Turner plays Rosalee on NBC's freshman fantasy drama, ... 'Grimm': Bree Turner upped to series regular Another Look at this Week's Episode of Grimm - "Cat and Mouse" NBC's 'Grimm' promotes Bree Turner to series regular for season 2 |
Monday, April 16, 2012
Bauer takes stars from 17 banks - Puget Sound Business Journal (Seattle):
The company uses federal regulatory data to rate bankws based oncapital ratio, profit/loss trend, delinquenyt loans and other factors. Bauer'ds rating ranks from a high of 5 starse to a low of0 stars. in Coral Gables lost a star gointg tofour (excellent) from five stars. Four others maintained their five-stadr ranking: American National Bank, Oakland Park City National Bank of Miami FirstNational Bank, South Miami Intercontinental Bank, West Miamo in Miami rose to three stars from two. First United Bank in Boca Raton and Biscayne Bank in Coconuty Grove roseto 3.5 stars from in Fort Lauderdale made four stars, up from 3.5. Several banka went to 3.5 from four stars.
They are: , Homesteadc Doral-based slipped again, this time to threee stars from three-and-a-half starss in the first quarter. That’s down from four starzs in the third quarter of last Other banks that slipped to threestarx (good) from 3.5 are: Executive National, Miami , Miam , Miami U.S. Century Bank, Miami Valley Fort Lauderdale Lydian Private Bank in Palm Grand Eastern Bank of Floridain Miami, Metrp Bank of Dade County, and in Miami fell to two starsd (problematic) from three. , Miami, in North Lauderdale and in Boca Ratomn fell a notch toone star, down from two in the fourthb quarter.
Four banks retained zero Bauer’s lowest rating: , Miami Republic Federal Miami , Miami Integrity Bank, Jupiterr
Saturday, April 14, 2012
2012 Rockingham: Cale Gale NASCAR Truck Race Preview - PaddockTalk
Kansas City Star | 2012 Rockingham: Cale Gale NASCAR Truck Race Preview PaddockTalk Gale rolled off 18th in the field of 19 cars and fought motor problems throughout the race. After 150 laps of competition at the historic oval, Gale picked up 10 positions to cross the finish line in the eighth position. Gale will also benefit from the ... Timothy Pe ters: Peters has top 10-laps in 1st NCWTS practice |
Thursday, April 12, 2012
Henderson Engineers works hard, plays hard to design its success - Kansas City Business Journal:
Yet at Lenexa-based , employees are challengec to, among other things: “Work Play hard. Mix the rules with Finish the day knowing that not only was the job it wasdone right.” Henderson Engineers startede with three employees in 1970. Today, 470 people staff seven branchezs throughout theUnited States. President and CEO Duane Henderson began leading the firm in around the same time that becamea client. By the company provided engineering work for many of theretail giant’s supercenters. The projects meant steady growthn forHenderson Engineers, and in some years, the work force triples and revenue grew by more than 20 percent.
Twenty-onde years later, Henderson’s relationship with Walmarf remains solid. In the however, Henderson diversified its client base and expandeeits services. It now offers a variety of services and worksz on dozens of types ofbuildingzs — everything from criminal justice facilities to religious Rich Smith, the company’s executive vice president, said Walmart’ s stores taught Henderson’s staff how to manage nationwides projects at a time when few other engineering firmsa could. Another reason for continuing growth is that Hendersonemploys well-roundedd people.
“We hire and promote people who have the technicall ability because at the end of theday they’rs engineers, but they need to have peoplse skills, too,” Smith said. The company’s culture also makex it successful. Smith said that nearly two decades ago, Hendersonb adopted a work environment with benefits such as flex time andcasualo dress. Employees have freedom and are encouraged to takeon responsibility, and they are rewarded for theid work.
The firm currentlyy has 31 owners and plans topromote “We get a lot of comments from clients who tell Rich and me how blown away they are by how much thesse young guys care about what they’re doing,” Henderson said. The company has a “client-focused culture” and prides itselcf on being proactiveand responsive, said Jim a principal with architecture firm in Kansas City. “They’rs every bit as good as anybodythat we’ve found in the country,” he said. In order to help the Henderson Engineers established a foundation a fewyears ago.
“Wd want to reach out to high school kids who mighy not think about engineering and expose them to the Smith said. “There’s a projected shortagre of technical people, and we want to help.” Hendersojn provides numerous scholarshipsand part-time work for engineerinhg students, and it offers a highlhy competitive summer intern program. Hendersonh also provides pro bono servicesfor , supports and participatea in the and other community activities. Henderson said that when the economy declinedlast year, the firm’w leaders sharpened their strategic visiom for the future.
The firm remainsx busy with remodeling and retrofit but it is providing extensive training so that employees can continue to hone their skills. Henderson expects this year’s revenue to hold steady or increasde slightlyfrom 2008. “We’ve got talented people with strengtha inmany areas,” Henderson said. “They’re ready for any opportunitieas thatcome along.”
Tuesday, April 10, 2012
More details on incident at Canfield Middle School that resulted in the ... - WFMJ
More details on incident at Canfield Middle School that resulted in the ... WFMJ CANFIELD, Ohio รข" 21 News has obtained a police report on the incident at Canfield Middle School that led to two students being suspended. A gold window punch, a 40 caliber bullet and about 22 feet of white nylon cord are part of the reasons a ... |
Sunday, April 8, 2012
Duke seeks 12.6% N.C. rate increase - The Business Journal of Milwaukee:
percent in North Carolina, a move that would add about $11 per montn to average residential customer’s Duke filed the proposex increase Tuesday withthe N.C. Utilities Commission. The new if approved, would take effecf Jan. 1. The rate increasesw would net Dukeabout $496 million in additional revenue from Reaction to the proposed increase came swiftly Jim Warren, executive director of the N.C. Waste Awarenessa and Reduction Network, called it “a slap in the face of its customerz — many of whom are already strugglin g during this deepprolonged recession.
” Warre n said his organization, a frequent critic of would oppose the increaser at hearings before the utilities Brett Carter, president of Duke Energy Carolinas, says the utilith knows it’s a difficult time to be raisin g rates. But he says Duke has workefd hard to keep the increase He says the calculationsof Duke’s experts justifies a larger increase. But Duke proposes taking a lower return on equitu than its estimatescalled for. And it also included no adjustmen t for inflation in the figures it has submitte d tothe commission. That cut about $150 milliohn from Duke’s overall increase, Carter says.
Withou t those steps, the rate increasr would have averaged 17 percent or But Duke could not avoid anincreasse altogether, he says. According to its rate filing withthe commission, Duke made an overalp rate of return of just 5.88 percent in 2008. Under the rates N.C. regulators approves in 2007, Duke was allowec to make a rate of return ofabout 8.5 Carter says current rates will not allow Duke to coved its operating costs, expand its operations to providse reliable and environmentally sound and give its shareholders a decent rate of The largest part of the increase comeas from costs to install pollution-control equipment on Duke’s largest coal plants, build and acquire additional plants and upgrade its transmission and distribution Duke has spent $4.
8 billionn on those projects in the last threre years. About $700 million of that represents N.C. share of the costs so far forthe 825-megawattr expansion of the Cliffside coal planr in Cleveland and Rutherford Carter says. Additional costs include scrubbersa installed to remove pollutants from emissionsx at the large Allen and Marshall coal plants Duke Duke has warned that plant constructioj and environmental controls will push up Carter emphasizes that even with this Duke will remainthe lowest-cost electric utilitg in the region and one of the lowest-cos t in the nation, he says.
Warren says future increasesd could be higher than Dukeis projecting, particularly as the company turns its attention to nucleadr energy with its proposed Lee Nuclearr Station near Gaffney, S.C. “Our analysis shows that underd Duke’s expansion plans, rates will rise he says. “And if nuclear and coal costsacontinue increasing, power bills could easily double.” He says N.C. WARN will continuwe to press its argument to the commissionthat Duke’s plannedd expansions are unnecessary. Duke’s proposed increases vary amoncustomer classes. Residential rates would increaseaboutg 13.5 percent.
For the average residential bill, that wouldr amount to $11 more per month. General-service rates for commercial and small-manufacturing customers would increase 9.8 Industrial customers would see thelargest increase. Theid rates would go up 15.25 percent. That would wipe out most of the gain s industrial customers received twoyears ago. Their ratesz were cut 15.64 percent overall in 2007, the largest cut in that round of rate-setting. But with the increasesa on the other classesof customers, he says, the rates for industriall customers remain in balance, Carter says. Duke intendx to seek rate increases in South Carolinaas well.
The utility is likelh to submit that request in the next monthor so. Duke has consistently warned that rates will increase as new plants are buily inthe Carolinas. The company last proposedf a rate hikein 2007, when it sought a 3.6 percenr average increase. But it ended up agreein g to cut average rateeabout 7.5 percent instead. That turne what would have beena $140 million increase in revenue to a reductionh of more than $280 million. Customersd are unlikely to have the same luckthis time.
In that rate Duke was able to cut the proposed increasr in large part because of changes in how Duke was allowerd to recover the costs of scrubbers installec on coal plants to reduce The last time Duke got a generak rate increase in North Carolina not connected tofuel prices, which can be adjustefd annually — was in 1991.
Saturday, April 7, 2012
YRC signs $122M sale-leaseback deal - Kansas City Business Journal:
The Overland Park-based trucking company’s (Nasdaq: YRCW) subidiariesw signed agreementswith Inc. to sell and lease back certaim facilities, with sales expected to closs from March through Leases are for 10 with options to renew for another20 years. If Estes decidex to sell a facility in the nextthrewe years, YRC would get to make the first “We are pleased that we finalized another significanyt component of our liquidity initiatives,” YRC CFO Tim Wickes said in the release. “It is common practic e in our industry to leasw facilities from otherindustryg providers, and in fact, we presently leasew other facilities from Estes and they leasr from us.
This is a continuation of that We continue to have additional opportunitiesa in this area with othef investors and recent improvements in this particular markey have made them evenmore attractive.” Credit agencyg Standard & Poor’s this week changedd the implications of its review on YRC Worldwide Inc. from developing to positive in the wake of YRC finalizing a bank amendmenton Feb. 12, and said it coulc raise YRC’s ratings after more evaluation, the release said.
“We appreciate S&P’s initial perspective of our bank amendmen and their willingness to evaluate its positiveliquidity aspects,” Wicks
Thursday, April 5, 2012
'Millionaire shoplifter' Somerset conman Kevin Castle jailed - BBC News
BBC News | 'Millionaire shoplifter' Somerset conman Kevin Castle jailed BBC News Kevin Castle, 47, from Somerset, stole people's letters to obtain credit cards using other people's names and ran up tens of thousands of pounds in bills. Castle, of West Buckland, Wellington, admitted 26 fraud charges, one of theft and one of ... Castle stole letters from people's mailboxes, using the information to rack up ... 'Millionaire shoplifter' jailed Jail term for letter frauds |
Tuesday, April 3, 2012
Trayvon Martin case: Was George Zimmerman hurt? If so, how badly? - Los Angeles Times
Washington Times | Trayvon Martin case: Was George Zimmerman hurt? If so, how badly? Los Angeles Times The fatal shooting has become a raci » |
Sunday, April 1, 2012
Howard University opens new pharmacy lab - Washington Business Journal:
CVS/pharmacy donated $300,000 -- a majo chunk of the $400,000 it took to build -- to erecr the new laboratory. Its purpose is to draw and retain students inthe school’s 70 freshmen pharmacy positions, a fielc which has grown from 300 applicantw in 1998 to 1,300 applicants today. Pharmacy students will lear n how todispense medication, counsell patients and practice with new pharmacyh technologies in the lab. Constructionm began last October at the lab site at 2400Fourthu St. NW. The old lab will eventually betakenm down.
“As the demand for top pharmacists increases due to an aging population and increased use ofprescription drugs, Howarc University is experiencing a dramatic increase in the numbet of applicants to our pharmacy school. Partnerships such as with CVS/pharmacty have helped us become more saidClarence Curry, interim associate dean at Howard University’s School of Nursing, and Allied Health The laboratory houses 24 workstations that lets studentw enter and assess patienyt information. The laboratory is also stockeedwith prescriptions, medications, and home-testing devices so students can practicer dispensing and advising on medication and home tests.
Partlyh as a result of their existing relationshipwith CVS, more than 35 percen of Howard University pharmacy graduates began careers at CVS/pharmacy storesz this year. CVS/pharmacy, the retail division of CVS), is the largest retailo pharmacy inthe U.S. with 6,30o retail locations.