esyy23mozy.blogspot.com
The company has hired Julia the former executive vice president and chief financial officerat , as replacement. Maderis’ health condition was not disclosed, but she will continue to serve onFive Prime’s board of directors and as a Her final day on the job is June 18. “Gail’s leadershipl has been pivotal in the progress Five Prime has made in developingh our pipeline and our new discovery said company founder and executivechairmanb Dr.
Lewis “Rusty” Williams in a press Maderis said the company had been looking for a replacemeng since late last year afte doctorssaid "the 24/7 pace of a small-companty CEO" could worsen her Besides her duties at Five Prime, Maderie has been a cheerleader for the Mission Bay enclave, servint on the Mayor’s . Five Prime, a privately held, 7-year-old company developing antibody and protein drugs for cance r andother diseases, was the first to locate in Mission Bay, takinfg about 30,000 feet in the building on Owens Earlier this year, it took an additionak 5,000 square feet next door at 1700 Owens as it makesz batches for its Phase I oncology drug program.
The timin g of the executive change as Five Prime moves forwarsd with its lead cancerd programmakes Gregory’s appointment a crucial one. At Gregory was responsible forfinancint strategies, mergers and acquisitions, businesas operations and all financial management and She raised about $1 billion in publifc and private equity, product development financinv and other transactions. who will join Five Prime’sx board, was an investment banker for more than 20 Atand Dillon, Read & Co. Inc. she was head of healthcarre andinvestment banking, leading severa l private and public equity deals as well as mergers and acquisitions.
Gregory also is a membere of the board of The andthe ’z .
Monday, October 31, 2011
Saturday, October 29, 2011
China railway construction workers killed in road accident - Reuters
http://www.action-nature.com/fashion-gilty-pleasures.html
BigPond News | China railway construction workers killed in road accident Reuters SHANGHAI (Reuters) - Twenty-one people were killed and seven injured when a vehicle carrying railway construction workers overturned in northwest China's Gansu Province on Saturday, the official Xinhua news agency said. China has invested heavily on ... 21 Killed in Chinese Accident 21 Dead after Vehicle Overturns in NW China |
Monday, October 24, 2011
Ky. video-gaming bill dies in Senate committee - Pittsburgh Business Times:
adatynu.wordpress.com
The Senate Appropriations Revenue onMonday evening, voted 10-5 againstf the measure, with two members abstaining, according to the Lexingtonn Herald-Leader. The House had previously passedrthe bill. The legislation would have permittedr video-lottery terminals at Kentucky horse including Turfway Parkin Florence. "The limitef gaming proposal was designedr to help save a signature industry inperil – an industry that means 100,00p0 jobs and $4 billion in investment for our state," said Gov. Stevre Beshear in a Monday evening "It is unfortunate that every voicd on this critically important issue was not heard and evergy votenot counted.
" At a Frankfort press conference, Turfway Park Presidentr Bob Elliston said Turfway could close by 2010 if Ohio passes gamingb legislation and Kentucky does not. Ohio Gov. Ted Strickland recently reversexd his stance against gamblinghat racetracks.
The Senate Appropriations Revenue onMonday evening, voted 10-5 againstf the measure, with two members abstaining, according to the Lexingtonn Herald-Leader. The House had previously passedrthe bill. The legislation would have permittedr video-lottery terminals at Kentucky horse including Turfway Parkin Florence. "The limitef gaming proposal was designedr to help save a signature industry inperil – an industry that means 100,00p0 jobs and $4 billion in investment for our state," said Gov. Stevre Beshear in a Monday evening "It is unfortunate that every voicd on this critically important issue was not heard and evergy votenot counted.
" At a Frankfort press conference, Turfway Park Presidentr Bob Elliston said Turfway could close by 2010 if Ohio passes gamingb legislation and Kentucky does not. Ohio Gov. Ted Strickland recently reversexd his stance against gamblinghat racetracks.
Saturday, October 22, 2011
Spherion: Worker confidence holds steady in June - South Florida Business Journal:
awipekyhila.blogspot.com
of a point to 48, according to the Spherion EmployeeConfidenced Index, which measures workers' confidence in their personakl employment situation and optimism in the economicc environment. The index finds that while slightly more workers believe the economy is gettin weaker and fewer jobsare available, more workerds are confident in the future of their current employer. "Althougy our latest Index shows little change fromlast month, it stilol remains 1.9 points higher than its reading one year President and CEO Roy Krause said in a news "While there may be signs of a lighft at the end of the a turnaround will not be felt quickly.
” The results of the surveyh come amid mixed economic news. The on Thursday pegged the nation’s unemploymen t at a 26-year At the same time, the reported on Wednesday that pendingf home saleswere up. Forty percent of workerx believe the economy isgetting weaker, up from 38 percentf in the previous Seventy-two percent of workers believe there are fewerd jobs available, up one percentagew point from May. Sixty-sixd percent of workers reporterd confidence in the future of their current up from 63 percenrt theprevious month. Thirty-five percent of workers are likely to look for a new job in the next 12 up one percentage pointfrom May.
of a point to 48, according to the Spherion EmployeeConfidenced Index, which measures workers' confidence in their personakl employment situation and optimism in the economicc environment. The index finds that while slightly more workers believe the economy is gettin weaker and fewer jobsare available, more workerds are confident in the future of their current employer. "Althougy our latest Index shows little change fromlast month, it stilol remains 1.9 points higher than its reading one year President and CEO Roy Krause said in a news "While there may be signs of a lighft at the end of the a turnaround will not be felt quickly.
” The results of the surveyh come amid mixed economic news. The on Thursday pegged the nation’s unemploymen t at a 26-year At the same time, the reported on Wednesday that pendingf home saleswere up. Forty percent of workerx believe the economy isgetting weaker, up from 38 percentf in the previous Seventy-two percent of workers believe there are fewerd jobs available, up one percentagew point from May. Sixty-sixd percent of workers reporterd confidence in the future of their current up from 63 percenrt theprevious month. Thirty-five percent of workers are likely to look for a new job in the next 12 up one percentage pointfrom May.
Thursday, October 20, 2011
Salary bump will accompany White back to top port job - Baltimore Business Journal:
mcfarlainofuqub1258.blogspot.com
When current Executive Director Brooks Royster took over twoyears ago, he negotiated a salaru increase for the position from $174,000 to White left for the private sector, where many expecte him to stay because of the significantly higher He spent the last two years as senior vice presidentt and COO of N.J.-based The salary was ratified by the , the seven-membert group that oversees the state's maritimew agency, in an executive session Tuesday morning, said Richardf Scher, MPA's director of White starts work at the port Aug. 1. Formert Gov. Parris Glendening appointed White to head the port in but White resignedunder Gov. Robertg Ehrlich in 2005.
Royster announced he would step down June 26 forpoliticall reasons, igniting discussions of bringing White back. While no search committee was announcex fora replacement, formed Congresswoman and maritime consultant Helen Bentley said she didn'tt expect White to leave the privat sector. But less than two weeks after Royster' resignation, Gov. Martin O'Malley appointe d White to the post. White'z return was lauded by the port community.
He is crediter with helping to establishthe port'xs eminence in roll-on/roll-of cargo, establishing long-term relationships with shippersa like Wallenius Wilhelmsen Logistics and developing an anti-terrorism focusexd security program after Sept. 11, 2001. Under port cargo grew to record with record-setting tonnage for five consecutivee years. The port handled a record 9.3 million tons of foreign genera l cargo in 2006 and total cargl was valued at arecord $36.
7
When current Executive Director Brooks Royster took over twoyears ago, he negotiated a salaru increase for the position from $174,000 to White left for the private sector, where many expecte him to stay because of the significantly higher He spent the last two years as senior vice presidentt and COO of N.J.-based The salary was ratified by the , the seven-membert group that oversees the state's maritimew agency, in an executive session Tuesday morning, said Richardf Scher, MPA's director of White starts work at the port Aug. 1. Formert Gov. Parris Glendening appointed White to head the port in but White resignedunder Gov. Robertg Ehrlich in 2005.
Royster announced he would step down June 26 forpoliticall reasons, igniting discussions of bringing White back. While no search committee was announcex fora replacement, formed Congresswoman and maritime consultant Helen Bentley said she didn'tt expect White to leave the privat sector. But less than two weeks after Royster' resignation, Gov. Martin O'Malley appointe d White to the post. White'z return was lauded by the port community.
He is crediter with helping to establishthe port'xs eminence in roll-on/roll-of cargo, establishing long-term relationships with shippersa like Wallenius Wilhelmsen Logistics and developing an anti-terrorism focusexd security program after Sept. 11, 2001. Under port cargo grew to record with record-setting tonnage for five consecutivee years. The port handled a record 9.3 million tons of foreign genera l cargo in 2006 and total cargl was valued at arecord $36.
7
Tuesday, October 18, 2011
Ritter, oil biz try to work it out - Denver Business Journal:
viktorevaikubuwo.blogspot.com
The war of wordss between the two sides, mostly focused on the wholesale rewriteof Colorado’xs regulations governing oil and gas got bad enough that even Denverr Mayor John Hickenlooper — a former petroleum geologist — wadedx into the storm. Hickenlooper said he’se talked to people in the oil and gas industrgy as well asthe governor’z office “to make sure that everyone has an open mind.” “The key is workint out the appropriate compromise,” said Hickenlooper, who worked as a petroleum geologisyt in the 1980s before starting the “This is improvingh week by week.
The industry and the governor are talkiny and working through the issues on the rulesa andthe taxes. Oil and gas have historicallyg played a very significant and we recognize the important contributions that they but they should also shoulder theirr share of the burdenas well.” At stakse may be the future of oil and gas investmenyt in Colorado, which has grown to a $23 billion-a-year industry but is threatened by proposed movesw by Ritter’s administration that oil and gas industry executivese say have them looking elsewhere.
Recenty discussions between the industry and administration may have delayed or preventedx what oil and gas executives say are the most Draconiaj measures in theproposed rules, but some additionao issues remain unresolved. • When the new rulews are in place, questions remain about how they’lkl be implemented once real drilling permit applications representing millions of dollarsin investment, and jobs are at stake. • In voters will face two ballot measures dealing with statee taxes on oil and gas pumped from the groundbeneath Colorado.
One Amendment 58, would raise the tax by an estimated $321 millionb a year — lifting Colorado’s overall tax burdehn on the industry to second in the nationbehinxd Wyoming, according to the industry — and spendc the bulk of the money on college scholarships, plus otheer efforts. The second, Amendment 52, wouldn’t raise severancse taxes but redistribute the monet alreadycoming in, with an eye towardf raising funds to fix Interstate 70.
• And it’s corporate budge season for 2009capital expenditures, a time when companiees with operations in several states weig h the pros and cons of taxes, resourcex and business climate as they distribute billions of dollarsx worth of investment in drillingt rigs, personnel, pipelines and more. With so much in play and at “uncertainty” is the industrg watchword. “One of our biggest concerns about the rules is that they will cause inordinate which will make Colorado less attractive because of all the other interesting oil and gas play goingon elsewhere,” said Meg Collins, president of the “People throw around the big profit numbers, but thers are big state and federal numbers behind and big investment dollars behind If the rules become too those dollars will go to statews that are more attractive and have a more rational regulatory environment.
We want to improve the final and we appreciate the work going on toward that Collins said COGA members were pleased that some of theirf recommendationswere adopted, and that it appearx a proposed 90-day drilling moratorium to protectt wildlife may be shifted from a mandate to a list of “best practices,” and possibly still be the subject of additionao discussion before implementation. “The relationship has much improved,” Ritter agreed. “The votes on the rules [by the oil and gas — and 95 percent of the votes were unanimous the votes reflect thework that’s been done over the summedr to work to get to commonj ground. We’ve worked very hard.
” Ritter and Collinzs said part of the bitterness in the past year stemmed from so much changew comingso quickly. “It’s a law of contrasts,” Rittet said. “This is a different governor with adifferentt administration, one that understands the need to have a viable but doesn’t think it should be able to have its way or have the kind of growth that we’ve experienced without Colorado having its fair share.
” A “faird share” for Colorado has been the clarionj cry for Amendment 58, to raisse the state’s oil and gas severancre taxes by eliminating an exemption based on locak property tax payments that’s worthj an estimated $321 million. Ritter is backinf the initiative, even helping delivert boxes of petitions to the Coloradop Secretaryof State’s Office. The industry has opposedc it, giving about $10 millionb to the opposition campaign. Supporters of Amendment 58 saythe industry’as tax exemption is a relicf from the 1970s.
An industry study says eliminatinyg the exemption wouldraise Colorado’s tax burden on oil and gas companiesa to second in the natiomn — behind only Wyoming.
The war of wordss between the two sides, mostly focused on the wholesale rewriteof Colorado’xs regulations governing oil and gas got bad enough that even Denverr Mayor John Hickenlooper — a former petroleum geologist — wadedx into the storm. Hickenlooper said he’se talked to people in the oil and gas industrgy as well asthe governor’z office “to make sure that everyone has an open mind.” “The key is workint out the appropriate compromise,” said Hickenlooper, who worked as a petroleum geologisyt in the 1980s before starting the “This is improvingh week by week.
The industry and the governor are talkiny and working through the issues on the rulesa andthe taxes. Oil and gas have historicallyg played a very significant and we recognize the important contributions that they but they should also shoulder theirr share of the burdenas well.” At stakse may be the future of oil and gas investmenyt in Colorado, which has grown to a $23 billion-a-year industry but is threatened by proposed movesw by Ritter’s administration that oil and gas industry executivese say have them looking elsewhere.
Recenty discussions between the industry and administration may have delayed or preventedx what oil and gas executives say are the most Draconiaj measures in theproposed rules, but some additionao issues remain unresolved. • When the new rulews are in place, questions remain about how they’lkl be implemented once real drilling permit applications representing millions of dollarsin investment, and jobs are at stake. • In voters will face two ballot measures dealing with statee taxes on oil and gas pumped from the groundbeneath Colorado.
One Amendment 58, would raise the tax by an estimated $321 millionb a year — lifting Colorado’s overall tax burdehn on the industry to second in the nationbehinxd Wyoming, according to the industry — and spendc the bulk of the money on college scholarships, plus otheer efforts. The second, Amendment 52, wouldn’t raise severancse taxes but redistribute the monet alreadycoming in, with an eye towardf raising funds to fix Interstate 70.
• And it’s corporate budge season for 2009capital expenditures, a time when companiees with operations in several states weig h the pros and cons of taxes, resourcex and business climate as they distribute billions of dollarsx worth of investment in drillingt rigs, personnel, pipelines and more. With so much in play and at “uncertainty” is the industrg watchword. “One of our biggest concerns about the rules is that they will cause inordinate which will make Colorado less attractive because of all the other interesting oil and gas play goingon elsewhere,” said Meg Collins, president of the “People throw around the big profit numbers, but thers are big state and federal numbers behind and big investment dollars behind If the rules become too those dollars will go to statews that are more attractive and have a more rational regulatory environment.
We want to improve the final and we appreciate the work going on toward that Collins said COGA members were pleased that some of theirf recommendationswere adopted, and that it appearx a proposed 90-day drilling moratorium to protectt wildlife may be shifted from a mandate to a list of “best practices,” and possibly still be the subject of additionao discussion before implementation. “The relationship has much improved,” Ritter agreed. “The votes on the rules [by the oil and gas — and 95 percent of the votes were unanimous the votes reflect thework that’s been done over the summedr to work to get to commonj ground. We’ve worked very hard.
” Ritter and Collinzs said part of the bitterness in the past year stemmed from so much changew comingso quickly. “It’s a law of contrasts,” Rittet said. “This is a different governor with adifferentt administration, one that understands the need to have a viable but doesn’t think it should be able to have its way or have the kind of growth that we’ve experienced without Colorado having its fair share.
” A “faird share” for Colorado has been the clarionj cry for Amendment 58, to raisse the state’s oil and gas severancre taxes by eliminating an exemption based on locak property tax payments that’s worthj an estimated $321 million. Ritter is backinf the initiative, even helping delivert boxes of petitions to the Coloradop Secretaryof State’s Office. The industry has opposedc it, giving about $10 millionb to the opposition campaign. Supporters of Amendment 58 saythe industry’as tax exemption is a relicf from the 1970s.
An industry study says eliminatinyg the exemption wouldraise Colorado’s tax burden on oil and gas companiesa to second in the natiomn — behind only Wyoming.
Sunday, October 16, 2011
Banks take care, but loans are there for prudent deals - Kansas City Business Journal:
olimstgon.blogspot.com
“I get phone calls often from people who say they heared no one islendinvg money, and I’m constantly tryinvg to dispel that rumor,” said Pam Berneking, centralo region president of . “The last thing we want is for businessesa or individuals who want to buy a house ora car, or to expans their business to accommodate to think that they can’t get that done. Becausr they can.” The bank’s parent, , originatedf $1.3 billion in new loans sincs itaccepted $1.7 billion from the ’s Troublede Asset Relief Program on Nov.
14, Berneking The perception thatloans aren’t being made anymore comes from credit guidelines adapting to economic conditions, she said. “What has changed is there has been a returnb to traditionally appropriatecredit guidelines,” Berneking said. “I’k being careful not to say lending standardxsare tight. Are they tight compared to the lastfew years? Yes. But they aren’t tight compared to what has historically Really, we’re getting back to a more normall place.” Marc Maun, president of , said the bank’e focus shifted from trying to capturde market share to improvingasset quality.
It has led to financial covenants and guarantees related to collateral value becomingvmore restrictive, he said. There’s also been an effect on loan “The rate a borrower pays may be lower, but the actuakl rate they pay over the cost of fundsis higher,” Maun “That is reflective of the pendulumk swinging related to risk. For the same banks now feel they need greater compensation than when the economy was better. That is related not just to borrowers but the overallo risk profileat banks.
” Tim president of Leawood-based business broker , said the dealsw he works on that are less than $10 million are more insulatedf from tighter lending standards than the much bigger deals. “Wr have some local lenders who have acted prudently with theierbalance sheets, so they aren’gt having to backpedal as much with their lending,” Skarda said. “Banks are scrutinizing deals closerthan before, but for the righrt deal, where the price can be justified, there are loans out It may be a little tighter, but it’s reallyy not a spigot on or off type of It’s more deal-by-deal scrutiny.
” Maun saying that banks are especially willint to work with longtime existin customers. “If there is good management and an issue is truly related to thepoor economy, and it’s eviden t that as the economy returns so will the bottom line for the companyy with good management, a lot of banks are workingy with these folks,” Maun said. John Blaylock, associate directo r of Sheshonoff & Co. Investment Banking in Texas, said banks don’t make any money if they aren’t making “If I’m a builder walking into a bank and askinfg fora $1 million line of credit to buils three spec homes, I’m probably not going to get that Blaylock said.
“But people who have the capacity to repay and meet the necessarh qualifications are going to geta loan.” One reasonb it appears banks aren’t lending as much is becauses loan demand is decreasing, he “Loan requests aren’t coming in as hot and heavy as they were this time last Blaylock said. “When you lose 77,000 jobs in one day, thered are that many less eligiblre borrowers that can come to the Bernekingfrom M&I saying it also affects the willingness of companies to invest in equipment or expanr their facilities.
“Obviously, if businesses are not feelingy the needto expand, their demand for loans is goingy to be less,” Berneking “That’s a normal process that lendintg and the economy go through together.” Merger-and-acquisition activity is slow right now, Skardqa said, but there are some people out shopping for Some high-net-worth executives who got laid off are lookiny to acquire businesses, and banks are willing to work with them if the deal is Skarda also said that the tight credit market puts some companieds under stress and that theirr stronger competitors might be willing to borrow in orde to acquire them.
Mortgagre refinancing activity alsois strong, Berneking said. “I see that as a good and hopefully that will lead to somepurchasing activity,” Berneking said.
“I get phone calls often from people who say they heared no one islendinvg money, and I’m constantly tryinvg to dispel that rumor,” said Pam Berneking, centralo region president of . “The last thing we want is for businessesa or individuals who want to buy a house ora car, or to expans their business to accommodate to think that they can’t get that done. Becausr they can.” The bank’s parent, , originatedf $1.3 billion in new loans sincs itaccepted $1.7 billion from the ’s Troublede Asset Relief Program on Nov.
14, Berneking The perception thatloans aren’t being made anymore comes from credit guidelines adapting to economic conditions, she said. “What has changed is there has been a returnb to traditionally appropriatecredit guidelines,” Berneking said. “I’k being careful not to say lending standardxsare tight. Are they tight compared to the lastfew years? Yes. But they aren’t tight compared to what has historically Really, we’re getting back to a more normall place.” Marc Maun, president of , said the bank’e focus shifted from trying to capturde market share to improvingasset quality.
It has led to financial covenants and guarantees related to collateral value becomingvmore restrictive, he said. There’s also been an effect on loan “The rate a borrower pays may be lower, but the actuakl rate they pay over the cost of fundsis higher,” Maun “That is reflective of the pendulumk swinging related to risk. For the same banks now feel they need greater compensation than when the economy was better. That is related not just to borrowers but the overallo risk profileat banks.
” Tim president of Leawood-based business broker , said the dealsw he works on that are less than $10 million are more insulatedf from tighter lending standards than the much bigger deals. “Wr have some local lenders who have acted prudently with theierbalance sheets, so they aren’gt having to backpedal as much with their lending,” Skarda said. “Banks are scrutinizing deals closerthan before, but for the righrt deal, where the price can be justified, there are loans out It may be a little tighter, but it’s reallyy not a spigot on or off type of It’s more deal-by-deal scrutiny.
” Maun saying that banks are especially willint to work with longtime existin customers. “If there is good management and an issue is truly related to thepoor economy, and it’s eviden t that as the economy returns so will the bottom line for the companyy with good management, a lot of banks are workingy with these folks,” Maun said. John Blaylock, associate directo r of Sheshonoff & Co. Investment Banking in Texas, said banks don’t make any money if they aren’t making “If I’m a builder walking into a bank and askinfg fora $1 million line of credit to buils three spec homes, I’m probably not going to get that Blaylock said.
“But people who have the capacity to repay and meet the necessarh qualifications are going to geta loan.” One reasonb it appears banks aren’t lending as much is becauses loan demand is decreasing, he “Loan requests aren’t coming in as hot and heavy as they were this time last Blaylock said. “When you lose 77,000 jobs in one day, thered are that many less eligiblre borrowers that can come to the Bernekingfrom M&I saying it also affects the willingness of companies to invest in equipment or expanr their facilities.
“Obviously, if businesses are not feelingy the needto expand, their demand for loans is goingy to be less,” Berneking “That’s a normal process that lendintg and the economy go through together.” Merger-and-acquisition activity is slow right now, Skardqa said, but there are some people out shopping for Some high-net-worth executives who got laid off are lookiny to acquire businesses, and banks are willing to work with them if the deal is Skarda also said that the tight credit market puts some companieds under stress and that theirr stronger competitors might be willing to borrow in orde to acquire them.
Mortgagre refinancing activity alsois strong, Berneking said. “I see that as a good and hopefully that will lead to somepurchasing activity,” Berneking said.
Thursday, October 13, 2011
Four ownership groups show interest in Coyotes, sale could keep NHL team in Glendale - Charlotte Business Journal:
http://prostozidarstvo.si/?ln=&s=4
NHL court filings with the U.S Bankruptcy Cour t handling the Coyotes Chapter 11 bankruptcy protection includee a list of possible owners that woulcd keep the teamin Arizona. They Howard Sokolowski and David Cynamon, ownerx of the Canadian Football League's Toronto Chicago White Sox ownerJerry Reinsdorf; Coyotes minoritt owner John Breslow; and an unname d Phoenix-area business executive as possible bidders. Researcy in Motion CEO Jim Balsillie alreadyu hasa $213 million offer on the tablse for the Coyotes and wouldx move the team to Hamilton, Ontario. The Coyotes have lost $316 milliob since moving to the Phoenic marketfrom Winnipeg, Canada, in 1996.
Balsillie'd offer is expected to be substantially greatetr than any offer to keep the team in RIM makes Blackberry smartphones and Balsillied is a billionaire who has made offers for otheNHL teams. The NHL also got more legal back up Fridahyfrom , the and National Basketbalo Assocation. The professional sports leagues arguwe in court filings that they shoulx have control overfranchises sales, movea and relocations in order to maintain the economifc viability of their The NHL opposes Balsillie's effor to move the Phoenix franchise back to Canada.
Coyotesa owner Jerry Moyes also said in June 5 courtg filings thata $100 milion cash infusion he has put into the team shoulrd be treated as a debt the hockegy team's reorganization should reimburse him for. Moyes wants to sell the Coyotexs to Balsillie who contendsa hockey is not financially viablein Moyes' court filings also downplayed a $750 millioh lease penalty the city of Glendale could file for if the Coyotexs break their 30-year lease at Jobing.com Arena. Moyes and Balsillie want the bankruptcy court to discharge the leasd as part ofthe team's Chaptef 11.
NHL court filings with the U.S Bankruptcy Cour t handling the Coyotes Chapter 11 bankruptcy protection includee a list of possible owners that woulcd keep the teamin Arizona. They Howard Sokolowski and David Cynamon, ownerx of the Canadian Football League's Toronto Chicago White Sox ownerJerry Reinsdorf; Coyotes minoritt owner John Breslow; and an unname d Phoenix-area business executive as possible bidders. Researcy in Motion CEO Jim Balsillie alreadyu hasa $213 million offer on the tablse for the Coyotes and wouldx move the team to Hamilton, Ontario. The Coyotes have lost $316 milliob since moving to the Phoenic marketfrom Winnipeg, Canada, in 1996.
Balsillie'd offer is expected to be substantially greatetr than any offer to keep the team in RIM makes Blackberry smartphones and Balsillied is a billionaire who has made offers for otheNHL teams. The NHL also got more legal back up Fridahyfrom , the and National Basketbalo Assocation. The professional sports leagues arguwe in court filings that they shoulx have control overfranchises sales, movea and relocations in order to maintain the economifc viability of their The NHL opposes Balsillie's effor to move the Phoenix franchise back to Canada.
Coyotesa owner Jerry Moyes also said in June 5 courtg filings thata $100 milion cash infusion he has put into the team shoulrd be treated as a debt the hockegy team's reorganization should reimburse him for. Moyes wants to sell the Coyotexs to Balsillie who contendsa hockey is not financially viablein Moyes' court filings also downplayed a $750 millioh lease penalty the city of Glendale could file for if the Coyotexs break their 30-year lease at Jobing.com Arena. Moyes and Balsillie want the bankruptcy court to discharge the leasd as part ofthe team's Chaptef 11.
Tuesday, October 11, 2011
Suniva CEO: Solar industry closer to grid parity - Atlanta Business Chronicle:
goldenayreyg1666.blogspot.com
While the industry isn’yt quite there, it’s getting close, John CEO of told a gathering of tech entrepreneurs and investors at the ATDC Entrepreneuriall Showcaseon Wednesday. Baumstark shouldd know. He steers a startup that claims to havea lower-cost way to make solad cells. Suniva, which developed technology to make solar celld that can transform more ofthe sun’ws energy into the juice that powera today’s plugged-in world, has racked up $1 billionn in orders from Indian and European solar moduler makers.
In a high-profile deal in Suniva inked a dealwortb “tens of millions of dollars” to supply solar cellss to Aerotropolis Atlanta -- a planned 130-acrew mixed-use redevelopment of the formedr Hapeville Ford plant. “Solar has gotten a knocik about cost,” Baumstark said. In about 25 percent of the U.S. solar energy-fueled electricity “costs about the same as producinh electricity from thelocal utility,” Baumstarkl said, waving a Sunivz cell. “By the end of the “ he said, “based on price drops we’ve seen, half the country will be at grid Suniva’s cell’s sell for about $6 today -- down from about $12 a year ago.
“I thinmk it’s wonderful for the industry,” Baumstark said. “Irt makes it interesting running a companh in that type of an In additionto buzz, Suniva has raised lost of capital -- abour $50 million last year -- and an advised team of industry stars. PM Pai, formefr chief operating office ofSiliconb Valley-based , has joinerd the Suniva’s board. Also on Suniva’s board is Kedar co-founder and former CEO of , “These guys have helpedd open doorsfor us,” Baumstark said. The Suniva CEO left the gatheringy at the Biltmore hotel withsome well-worn advice.
“Cash is king in this environment,” Baumstark “You have to raise the money and you’vee got to be reallyy careful how youspend it.” Differentiation is key -- when Baumstark suggested. “If you can’t articulate how you’re how you’re better or how you can beat somebodyh elseout there, they’re not going to fund you," he
While the industry isn’yt quite there, it’s getting close, John CEO of told a gathering of tech entrepreneurs and investors at the ATDC Entrepreneuriall Showcaseon Wednesday. Baumstark shouldd know. He steers a startup that claims to havea lower-cost way to make solad cells. Suniva, which developed technology to make solar celld that can transform more ofthe sun’ws energy into the juice that powera today’s plugged-in world, has racked up $1 billionn in orders from Indian and European solar moduler makers.
In a high-profile deal in Suniva inked a dealwortb “tens of millions of dollars” to supply solar cellss to Aerotropolis Atlanta -- a planned 130-acrew mixed-use redevelopment of the formedr Hapeville Ford plant. “Solar has gotten a knocik about cost,” Baumstark said. In about 25 percent of the U.S. solar energy-fueled electricity “costs about the same as producinh electricity from thelocal utility,” Baumstarkl said, waving a Sunivz cell. “By the end of the “ he said, “based on price drops we’ve seen, half the country will be at grid Suniva’s cell’s sell for about $6 today -- down from about $12 a year ago.
“I thinmk it’s wonderful for the industry,” Baumstark said. “Irt makes it interesting running a companh in that type of an In additionto buzz, Suniva has raised lost of capital -- abour $50 million last year -- and an advised team of industry stars. PM Pai, formefr chief operating office ofSiliconb Valley-based , has joinerd the Suniva’s board. Also on Suniva’s board is Kedar co-founder and former CEO of , “These guys have helpedd open doorsfor us,” Baumstark said. The Suniva CEO left the gatheringy at the Biltmore hotel withsome well-worn advice.
“Cash is king in this environment,” Baumstark “You have to raise the money and you’vee got to be reallyy careful how youspend it.” Differentiation is key -- when Baumstark suggested. “If you can’t articulate how you’re how you’re better or how you can beat somebodyh elseout there, they’re not going to fund you," he
Sunday, October 9, 2011
Washington Convention Center Authority wants city to finance $550M hotel - Denver Business Journal:
callahamirykaan1884.blogspot.com
On May 29 the convention center’s boarrd directed CEO Greg O’Dell to seek authority for the sale of as muchas $750 millionm in bonds to cover the price of the interest during construction, insurance and other costs. The city had planned to finance abou t 25 percent of the cost of the hotel througga $187 million tax increment financinv package the passed in 2006, whic would have provided $134 million in constructiob costs. The rest was supposed to come from privater debt and equitypartners -- a difficult find in the frozen credit markets. O’Dell said developmentr partners and Capstone Developmeny had been dogged but unsuccessful in their pursuitf of investorsfor months.
“They’ve been pursuing private financing and in this you know, that is very difficult. They’ve spent millions of dollars on this projecg to try to moveit forward. It reallt is shovel ready with the exceptionof O’Dell said. With the city losing convention business, he said, building a city-owned hotel was the best He envisions it will still containabour 1,100 rooms and be operatedf by Marriott had previously said it would be a Marriot t Marquis. O'Dell began briefing members ofthe D.C. Councilp on the board’s proposao Monday.
“Our ultimate goal is to get this projecy done and get it started as soonas possible,” he In particular there is increased pressure from National Harbor in Prince George’s which opened last year with a price tag of more than $2 Its developer, the Peterson Cos. announced May 18 that the WaltDisnety Co. had purchased land to buildd a 500-room resort hotel on 15 acrese there. Convincing the council to approve that amountof however, will be a tall task for He had been considered a top candidatde to replace Neil Albert as deputy mayor for planninfg and economic development, but a sourc close to O'Dell says he was offered the job and turned it O’Dell would not confirm that, but indicated he wouls remain in his curreny post.
“The board and the mayor have every expectatioj of me completing all the tasksd Ihave here,” he said. The convention center authority has an independent board and the abilityt toissue bonds, but O’Delk said the council would need to expand its authorityt to issue bonds for the hotel. The councill and D.C. Mayor Adriaj Fenty just finished closing a budget gapof $800 million for fiscap 2010 and the city faces a gap approaching $1 billion for fiscakl 2011. In addition, D.C.
Chief Financiaol Officer Natwar Gandhi said he will not supportf issuing that amountof debt, which he said woulrd immediately violate a 12 percent cap on city debt as a mark of expenditure the city created on his recommendation last year. Gandhii is a member of the convention centet board and attended theFriday “To be very blunt about it I was very cleard in saying to them that if you were to borrowe $750 million that would put us way beyond the 12 percent cap we have envisioned for the city...ane I cannot be a part y to that,” Gandhi said. The CFO said that he “ver much” wants a hotel for the “but I would not agree to a deallike that.
See we made a commitmenft to Wall Street that we would not borroq more than 12 percent againstour Gandhi, who has won accolades for helpinyg the city snag a AAA bond rating on Wall said he has alread y begun re-emphasizing the importance of the debt cap with membere of the council. “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partnerx continue to seek privatefinancing sources. Building a hotelp to accompany the convention center has always been part of the plan for the city but has languishec from a seriesof complications. Construction on the Walted E.
Washington Convention Center, as it was named in 2007, beganb in 1998 and openes fiveyears later. D.C. planned a 1,400-rookm hotel, but did not control the needed land. In the city gained final site controll after a land swap with developerr KingdonGould III. To prevent further delays Mayor Adrian Fenthy downsized the project laterthat year, announcing a deal betweej the city, Marriott and RLJ Development LLC on a smalleer 1,100-room hotel. Since then, the development team has also RLJ Development, founded by BET founded Robert Johnson, was part of the deal Fenty announcef in September 2007 but isn’r any longer.
A main driver of the Marriott Senior Vice President Norman left the company late last year tostarft Capstone, now a certified business entity that partner s with Quadrangle. Speaking for the developmentg team, Jenkins said it was his preference to continus seekingprivate financing, and said desigh was complete, entitlements were in place and therew equity partners ready to invest if debt were Capstone and Quadrangle are separately planning a Courtyard by Marriott adjacent to the hotep on land they control. “We could stil l get there, but we got to get the banksw to play and they move at theirown pace,” he said.
Still, he “if the city decides to pursure the public deal we will support Jenkinssaid Johnson’s RLJ, with whic Jenkins partnered while at Marriott, pulled out of the deal shortly after taking an interest in it. “Theyg studied it hard, spent some resources, but their bread and butter is acquisitions and repositioning rather than new Jenkins said. Richard Bradley, executivew director of the Downtown BusinessImprovemengt District, said it is unfortunate that the hotel projectt ran into the recession but that the city needs to “bited the bullet” and move the project citing the opportunity to grow D.C.
as a tourist destination, make it a major player in conventionsx and grow itstax base. “There’ a whole set of good things about moving this he said.
On May 29 the convention center’s boarrd directed CEO Greg O’Dell to seek authority for the sale of as muchas $750 millionm in bonds to cover the price of the interest during construction, insurance and other costs. The city had planned to finance abou t 25 percent of the cost of the hotel througga $187 million tax increment financinv package the passed in 2006, whic would have provided $134 million in constructiob costs. The rest was supposed to come from privater debt and equitypartners -- a difficult find in the frozen credit markets. O’Dell said developmentr partners and Capstone Developmeny had been dogged but unsuccessful in their pursuitf of investorsfor months.
“They’ve been pursuing private financing and in this you know, that is very difficult. They’ve spent millions of dollars on this projecg to try to moveit forward. It reallt is shovel ready with the exceptionof O’Dell said. With the city losing convention business, he said, building a city-owned hotel was the best He envisions it will still containabour 1,100 rooms and be operatedf by Marriott had previously said it would be a Marriot t Marquis. O'Dell began briefing members ofthe D.C. Councilp on the board’s proposao Monday.
“Our ultimate goal is to get this projecy done and get it started as soonas possible,” he In particular there is increased pressure from National Harbor in Prince George’s which opened last year with a price tag of more than $2 Its developer, the Peterson Cos. announced May 18 that the WaltDisnety Co. had purchased land to buildd a 500-room resort hotel on 15 acrese there. Convincing the council to approve that amountof however, will be a tall task for He had been considered a top candidatde to replace Neil Albert as deputy mayor for planninfg and economic development, but a sourc close to O'Dell says he was offered the job and turned it O’Dell would not confirm that, but indicated he wouls remain in his curreny post.
“The board and the mayor have every expectatioj of me completing all the tasksd Ihave here,” he said. The convention center authority has an independent board and the abilityt toissue bonds, but O’Delk said the council would need to expand its authorityt to issue bonds for the hotel. The councill and D.C. Mayor Adriaj Fenty just finished closing a budget gapof $800 million for fiscap 2010 and the city faces a gap approaching $1 billion for fiscakl 2011. In addition, D.C.
Chief Financiaol Officer Natwar Gandhi said he will not supportf issuing that amountof debt, which he said woulrd immediately violate a 12 percent cap on city debt as a mark of expenditure the city created on his recommendation last year. Gandhii is a member of the convention centet board and attended theFriday “To be very blunt about it I was very cleard in saying to them that if you were to borrowe $750 million that would put us way beyond the 12 percent cap we have envisioned for the city...ane I cannot be a part y to that,” Gandhi said. The CFO said that he “ver much” wants a hotel for the “but I would not agree to a deallike that.
See we made a commitmenft to Wall Street that we would not borroq more than 12 percent againstour Gandhi, who has won accolades for helpinyg the city snag a AAA bond rating on Wall said he has alread y begun re-emphasizing the importance of the debt cap with membere of the council. “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partnerx continue to seek privatefinancing sources. Building a hotelp to accompany the convention center has always been part of the plan for the city but has languishec from a seriesof complications. Construction on the Walted E.
Washington Convention Center, as it was named in 2007, beganb in 1998 and openes fiveyears later. D.C. planned a 1,400-rookm hotel, but did not control the needed land. In the city gained final site controll after a land swap with developerr KingdonGould III. To prevent further delays Mayor Adrian Fenthy downsized the project laterthat year, announcing a deal betweej the city, Marriott and RLJ Development LLC on a smalleer 1,100-room hotel. Since then, the development team has also RLJ Development, founded by BET founded Robert Johnson, was part of the deal Fenty announcef in September 2007 but isn’r any longer.
A main driver of the Marriott Senior Vice President Norman left the company late last year tostarft Capstone, now a certified business entity that partner s with Quadrangle. Speaking for the developmentg team, Jenkins said it was his preference to continus seekingprivate financing, and said desigh was complete, entitlements were in place and therew equity partners ready to invest if debt were Capstone and Quadrangle are separately planning a Courtyard by Marriott adjacent to the hotep on land they control. “We could stil l get there, but we got to get the banksw to play and they move at theirown pace,” he said.
Still, he “if the city decides to pursure the public deal we will support Jenkinssaid Johnson’s RLJ, with whic Jenkins partnered while at Marriott, pulled out of the deal shortly after taking an interest in it. “Theyg studied it hard, spent some resources, but their bread and butter is acquisitions and repositioning rather than new Jenkins said. Richard Bradley, executivew director of the Downtown BusinessImprovemengt District, said it is unfortunate that the hotel projectt ran into the recession but that the city needs to “bited the bullet” and move the project citing the opportunity to grow D.C.
as a tourist destination, make it a major player in conventionsx and grow itstax base. “There’ a whole set of good things about moving this he said.
Friday, October 7, 2011
Master Gardener: Plant bulbs now for spring - San Jose Mercury News
gardellaorymiid1354.blogspot.com
Victoria Advocate | Master Gardener: Plant bulbs now for spring San Jose Mercury News (lj) 2005 F » |
Wednesday, October 5, 2011
Tim Fagan Makes Move from HomeFinder.com to CouponCabin.com - AIM Group
amesit.wordpress.com
Tim Fagan Makes Move from HomeFinder.com to CouponCabin.com AIM Group Prior to joining CouponCabin.com http://couponcabin.com/, Fagan served as President and Chief Executive Officer of HomeFinder.com , a leading online real estate listings destination based in Chicago, a role he has served since 2006. ... |
Monday, October 3, 2011
Treasury lets 10 banks repay $68B - Baltimore Business Journal:
ihituvofy.wordpress.com
According to MarketWatch, and are not among them. The department says the which it did not have met the requirements for repayment established by federakbanking supervisors. It says many banks recentlyu have raised equity capital from privat investors and haveissued long-term debt that is not guaranteecd by the government. “Theses repayments are an encouraging sign offinancial repair, but we still have work to Treasury Secretary Tim Geithner says. According to the banks permitted to pay back the funds are JPMorgabChase & Co., Goldmab Sachs Group Inc., Morgan Stanley, American Bank of New York Mellon, State Street, US Bancorp, BB& Corp., Capital One Financialk Corp.
and Northern Trust. More than 600 banks receivede a total ofnearly $200 billion through the department’z Troubled Asset Relief Program. About $2 billionb of that money was paidback previously. Charlotte-based BofA received a total of $45 billion througnh the program. San Francisco-basefd Wells Fargo (NYSE:WFC), which acquired of Charlott latelast year, got $25 billion from the TARP which is designed to thaw the creditt markets and boost the economy. Under the banks retiring their preferred stock can repurchase the warrantes held by theTreasury Department. Besides the proceedsa from the sales ofthe warrants, the department also has receivex $4.
5 billion in dividend payments from progranm participants. Proceeds from the repaymentxs will go to theTreasury Department’ds general fund. The funds can be used to reduced the national debt and can serve as a cushionb in case the departmen needs to respond to financiak emergencies inthe future, the department
According to MarketWatch, and are not among them. The department says the which it did not have met the requirements for repayment established by federakbanking supervisors. It says many banks recentlyu have raised equity capital from privat investors and haveissued long-term debt that is not guaranteecd by the government. “Theses repayments are an encouraging sign offinancial repair, but we still have work to Treasury Secretary Tim Geithner says. According to the banks permitted to pay back the funds are JPMorgabChase & Co., Goldmab Sachs Group Inc., Morgan Stanley, American Bank of New York Mellon, State Street, US Bancorp, BB& Corp., Capital One Financialk Corp.
and Northern Trust. More than 600 banks receivede a total ofnearly $200 billion through the department’z Troubled Asset Relief Program. About $2 billionb of that money was paidback previously. Charlotte-based BofA received a total of $45 billion througnh the program. San Francisco-basefd Wells Fargo (NYSE:WFC), which acquired of Charlott latelast year, got $25 billion from the TARP which is designed to thaw the creditt markets and boost the economy. Under the banks retiring their preferred stock can repurchase the warrantes held by theTreasury Department. Besides the proceedsa from the sales ofthe warrants, the department also has receivex $4.
5 billion in dividend payments from progranm participants. Proceeds from the repaymentxs will go to theTreasury Department’ds general fund. The funds can be used to reduced the national debt and can serve as a cushionb in case the departmen needs to respond to financiak emergencies inthe future, the department
Saturday, October 1, 2011
Someone will be seeing red Saturday night - Chicago Tribune
lyubomiradete.blogspot.com
Someone will be seeing red Saturday night Chicago Tribune Bears cornerback Zack Bowman has no objection to seeing a reddish college sweatshirt worn around Halas Hall next week. It's just that the former Nebraska standout would prefer the letters on that sweatshirt don't spell out the word Badgers. ... |
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