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Swaim-Staley had been deputyt secretary to Porcari aftere he was named to the slotby O’Malley in 2007. Porcari will be sworn in June 1 asthe No. 2 officiao for the . Swaim-Staley is no stranger to Maryland’s transportatiomn needs. She also served as the transportation’s deputy secretary for the stat e from 1999to 2003, while also servingh in interim roles at Baltimore/Washington International Thurgoosd Marshall Airport and the . From 1993 to Swaim-Staley served as chief financial officerr forthe .
O’Malleyy said in a statement Swaim-Staley “hasd the deep knowledge of transportation, along with the managemenft and financial expertise that are necessary for us to move A spokesmanfor O’Malley said the governor is stillo conducting interviews for a permanen successor to Porcari. There is no timeline in place to fill the spokesman Shaun Adamec said inan e-mail. The “criteriaz is to find the best persobn forthe job,” he said.
Sunday, September 30, 2012
Saturday, September 29, 2012
Medicaid cuts payments to Colo. docs - Dallas Business Journal:
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Included in the 2009-10 “long bill” approvee by state legislators andColorado Gov. Bill Ritter, the cuts accountt for a $30.8 million reduction for Colorad omedical providers. But the Colorado Department of Healthu Care Policyand Financing, which was given some flexibility in implementinh the cuts, aimed to lowerr costs by reducing “avoidable visits” to emergencyu rooms and encouraging primary and preventative care. In doing so, the department excludefd primary care, preventative care and dental services from takinhgthe cuts. Other medical professionals who serve Medicais clients will see a rate reduction no greatedr than2 percent.
The department said in a statemen t it believedthat across-the-board cuts would do “mored harm than good” to Medicaid clients. Despitr the cuts, Alfred Gilchrist, CEO of the Coloradk Medical Society, said the group will make everyh effort to encourage doctors to participate in the Medicaidf program during difficult economic Medicaid is a public healtu care insurance programfor Colorado’s low-income families, children, pregnantr women, the elderly and people with disabilities. Eligibilith is based on income andfamily size. The progra m is funded througha federal-statew partnership. There were 462,033 people enrollec in Medicaid as ofMay 31, 2009.
Included in the 2009-10 “long bill” approvee by state legislators andColorado Gov. Bill Ritter, the cuts accountt for a $30.8 million reduction for Colorad omedical providers. But the Colorado Department of Healthu Care Policyand Financing, which was given some flexibility in implementinh the cuts, aimed to lowerr costs by reducing “avoidable visits” to emergencyu rooms and encouraging primary and preventative care. In doing so, the department excludefd primary care, preventative care and dental services from takinhgthe cuts. Other medical professionals who serve Medicais clients will see a rate reduction no greatedr than2 percent.
The department said in a statemen t it believedthat across-the-board cuts would do “mored harm than good” to Medicaid clients. Despitr the cuts, Alfred Gilchrist, CEO of the Coloradk Medical Society, said the group will make everyh effort to encourage doctors to participate in the Medicaidf program during difficult economic Medicaid is a public healtu care insurance programfor Colorado’s low-income families, children, pregnantr women, the elderly and people with disabilities. Eligibilith is based on income andfamily size. The progra m is funded througha federal-statew partnership. There were 462,033 people enrollec in Medicaid as ofMay 31, 2009.
Thursday, September 27, 2012
Wednesday, September 26, 2012
Towson University expands undergrad programs in Harford - Baltimore Business Journal:
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By next fall, the university will offedr anundergraduate bachelor's degree progran in elementary education and special education at the University officials are working to recruit about 15 to 20 student for its first year. Since 1995, Towson Universityt has offered graduate programs and continuing educationj courses at theHEAT Center, a workforcee development facility managed by the community college. But the undergraduate program is a firstt for the university atthe site.
Harford Community College also offersz associate of arts degrees in the teaching The program is beingb offered as part of an effortr to meet the growing future needs of Harford expected to be impacted by the thousands of new jobs and familie coming to the state from military changes at Aberdeem and FortGeorge G. Meade in Anne Arunde l County proposed by the federal Base Realignment and Closure also knownas BRAC. Harford'sz public school system is listed among the top school systemzs in Maryland facing criticalteacher shortages, accordinb to the . Higher education leaders said the changea at Aberdeen will be a challenge forthe county'xs schools.
"This is part of the ripple effect that is cominh toHarford County," said Karen Blair, assistant dean of the Colleged of Education at Towson "With additional people moving into the we will need more Blair said students entering the program at the centerr will complete their internships and student teaching at schoolsa in Harford and nearby Cecil In its first few years, most of the studentes in the program will come from associate degre programs already offered at the center.
But the influzx of new residents to the area from BRAC realignmentzs could also give the program a new poolof
By next fall, the university will offedr anundergraduate bachelor's degree progran in elementary education and special education at the University officials are working to recruit about 15 to 20 student for its first year. Since 1995, Towson Universityt has offered graduate programs and continuing educationj courses at theHEAT Center, a workforcee development facility managed by the community college. But the undergraduate program is a firstt for the university atthe site.
Harford Community College also offersz associate of arts degrees in the teaching The program is beingb offered as part of an effortr to meet the growing future needs of Harford expected to be impacted by the thousands of new jobs and familie coming to the state from military changes at Aberdeem and FortGeorge G. Meade in Anne Arunde l County proposed by the federal Base Realignment and Closure also knownas BRAC. Harford'sz public school system is listed among the top school systemzs in Maryland facing criticalteacher shortages, accordinb to the . Higher education leaders said the changea at Aberdeen will be a challenge forthe county'xs schools.
"This is part of the ripple effect that is cominh toHarford County," said Karen Blair, assistant dean of the Colleged of Education at Towson "With additional people moving into the we will need more Blair said students entering the program at the centerr will complete their internships and student teaching at schoolsa in Harford and nearby Cecil In its first few years, most of the studentes in the program will come from associate degre programs already offered at the center.
But the influzx of new residents to the area from BRAC realignmentzs could also give the program a new poolof
Monday, September 24, 2012
The value of suburban town centers - Washington Post (blog)
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The value of suburban town centers Washington Post (blog) Fact: People want to live in walkable urban places. Problem: Walkable urban places sometimes have attributes that people don't like. Solution: Build new walkable urban places out in the suburbs. Result: A whole new type of place that offers the city ... Breakfast links: Dry spell |
Sunday, September 23, 2012
Boeing to acquire eXMeritus - Dayton Business Journal:
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which sells secure hardwarwe and software to the government and lawenforcemenft organizations, for an undisclosed sum. Executives at Boeing BA) say the purchase will help extend its abilith to serve the federal cybefr security andintelligence markets. “Th e addition of eXMeritus to our team is a strong enhancement to the Boeinbg capabilities developed through years of experiencwe on secure networks for some of the most complex system in national security said Boeing Integrated Defense Systeme President and CEOJim Fairfax-based eXMeritus is the fourthy company that Boeing will add to its security-- and intelligence-related lines of business since 2008.
Last year Boeing acquire d Germantown, Md.-based Digital Receiver Herndon, Va.-based Ravenwing and D.C.-based . founded in 2000, will add fewer than 30 employeesto Boeing’s Integrateed Defense Systems’ Network and Spacre Systems unit. The company’s products are certifies and accredited bythe U.S. government to operate on the government’s trustexd systems. Boeing said the transaction, expectedc to close by the endof won’t affect Boeing’s financial Boeing’s Integrated Defense Systemsx unit, headquartered in St. Louis, is a $32 billiob business with 70,000 employees worldwide.
which sells secure hardwarwe and software to the government and lawenforcemenft organizations, for an undisclosed sum. Executives at Boeing BA) say the purchase will help extend its abilith to serve the federal cybefr security andintelligence markets. “Th e addition of eXMeritus to our team is a strong enhancement to the Boeinbg capabilities developed through years of experiencwe on secure networks for some of the most complex system in national security said Boeing Integrated Defense Systeme President and CEOJim Fairfax-based eXMeritus is the fourthy company that Boeing will add to its security-- and intelligence-related lines of business since 2008.
Last year Boeing acquire d Germantown, Md.-based Digital Receiver Herndon, Va.-based Ravenwing and D.C.-based . founded in 2000, will add fewer than 30 employeesto Boeing’s Integrateed Defense Systems’ Network and Spacre Systems unit. The company’s products are certifies and accredited bythe U.S. government to operate on the government’s trustexd systems. Boeing said the transaction, expectedc to close by the endof won’t affect Boeing’s financial Boeing’s Integrated Defense Systemsx unit, headquartered in St. Louis, is a $32 billiob business with 70,000 employees worldwide.
Saturday, September 22, 2012
Fed report: Texas manufacturing still weak - Houston Business Journal:
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The report said 53 percenf of manufacturing executives surveyed reported weaker market conditions in March and 43 percent said they experiencer no improvementfrom February. the report indicates hope for themonthx ahead. “Several indicators of futuree activity suggest thatthe region’s manufacturers expect declines in factory activit y to ease over the next six the Federal Reserve Bank of Dallas said in its latest report on manufacturing.
“Indexes for future production, capacith utilization, shipments, new orders and growtnh rate of orders improved modestly for the fourthconsecutive month, and 40 percent of manufacturingh executives foresee increases in production six monthsa from now.” Labor remains a trouble the report says, with demand for labotr in manufacturing remaining weak. More than half of the firmsw surveyed said they implemented job cuts and the averages workweek fell for employeesin March, the Fed report The industry also noted that downward price pressures with 50 percent noticing a drop in inpuy prices and 34 percent selling theird goods for lower prices.
In addition, the reportt says the index for materials inventoriesz fell to its lowest reading since the survey first begamnin 2004, with 30 percent of manufacturers noting decline s in their finished goods the report said.
The report said 53 percenf of manufacturing executives surveyed reported weaker market conditions in March and 43 percent said they experiencer no improvementfrom February. the report indicates hope for themonthx ahead. “Several indicators of futuree activity suggest thatthe region’s manufacturers expect declines in factory activit y to ease over the next six the Federal Reserve Bank of Dallas said in its latest report on manufacturing.
“Indexes for future production, capacith utilization, shipments, new orders and growtnh rate of orders improved modestly for the fourthconsecutive month, and 40 percent of manufacturingh executives foresee increases in production six monthsa from now.” Labor remains a trouble the report says, with demand for labotr in manufacturing remaining weak. More than half of the firmsw surveyed said they implemented job cuts and the averages workweek fell for employeesin March, the Fed report The industry also noted that downward price pressures with 50 percent noticing a drop in inpuy prices and 34 percent selling theird goods for lower prices.
In addition, the reportt says the index for materials inventoriesz fell to its lowest reading since the survey first begamnin 2004, with 30 percent of manufacturers noting decline s in their finished goods the report said.
Thursday, September 20, 2012
Mallogs Tico to take victory in Raymond Mulvaney Bookmaker A3 525 Semi-final ... - bettor.com (blog)
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Mallogs Tico to take victory in Raymond Mulvaney Bookmaker A3 525 Semi-final ... bettor.com (blog) Mallogs Tico to take victory in Raymond Mulvaney Bookmaker A3 525 Semi-final at Shelbourne Park. Mallogs Tico delivered a unique performance in the opening round of Raymond Mulvaney Bookmaker A3 525 last week. Despite a few very powerful rivals ... |
Wednesday, September 19, 2012
BMP Sunstone to be Featured on SIG's 'China Healthcare On Call' Conference Call Series
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June 3 /PRNewswire-Asia-FirstCall/ -- BMP Sunstone Corporation BJGP) ("BMP Sunstone" or the "Company") today announced that it will be featurefd on SusquehannaFinancial Group's upcoming "China Healthcare On Call" conference call series to discuss the impac t of China Healthcare Reformn and the Company's growth strategy going The series will be hosted by Ding Ph.D., SIG's senior analyst covering China's Healthcare Industry, and is scheduledf to occur on Friday, June 5, at 10:00 am ET.
Pleasew contact Integrated Corporate Relations at 203682 8200, or contac t your SIG sales person or email for live conference call A replay of the call will be made accessible at pin: 874155, until August 5, 2009. BMP Sunstonre Corporation is a specialty pharmaceutical companu that is building a proprietary portfolio of brandedr pharmaceutical and healthcare productsin China. Currently this portfoli o includes eight products underexclusive multi-year licensess for China, primarily focused on women'ws health and pediatrics. The Companh also owns SunstonePharmaceutical Co. Ltd.
, which manufacturexs leading pediatricand women's health products, including two of China's most recognizedc brands, "Hao Wawa" and "Confort,"" sold through approximately 120,000 pharmacies in China. The Company also providex pharmaceutical distribution services through its subsidiariew in Beijingand Shanghai, and through its affiliate, Guangzhou Pharmaceuticald Corp. The Company has its main officeein Beijing, with a US officr in Plymouth Meeting, PA. For more information, please visit .
June 3 /PRNewswire-Asia-FirstCall/ -- BMP Sunstone Corporation BJGP) ("BMP Sunstone" or the "Company") today announced that it will be featurefd on SusquehannaFinancial Group's upcoming "China Healthcare On Call" conference call series to discuss the impac t of China Healthcare Reformn and the Company's growth strategy going The series will be hosted by Ding Ph.D., SIG's senior analyst covering China's Healthcare Industry, and is scheduledf to occur on Friday, June 5, at 10:00 am ET.
Pleasew contact Integrated Corporate Relations at 203682 8200, or contac t your SIG sales person or email for live conference call A replay of the call will be made accessible at pin: 874155, until August 5, 2009. BMP Sunstonre Corporation is a specialty pharmaceutical companu that is building a proprietary portfolio of brandedr pharmaceutical and healthcare productsin China. Currently this portfoli o includes eight products underexclusive multi-year licensess for China, primarily focused on women'ws health and pediatrics. The Companh also owns SunstonePharmaceutical Co. Ltd.
, which manufacturexs leading pediatricand women's health products, including two of China's most recognizedc brands, "Hao Wawa" and "Confort,"" sold through approximately 120,000 pharmacies in China. The Company also providex pharmaceutical distribution services through its subsidiariew in Beijingand Shanghai, and through its affiliate, Guangzhou Pharmaceuticald Corp. The Company has its main officeein Beijing, with a US officr in Plymouth Meeting, PA. For more information, please visit .
Tuesday, September 18, 2012
Stock deal at portfolio firm frees up cash for Safeguard Scientifics - Philadelphia Business Journal:
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million in cash, and freed up another $12.w3 million in cash due to one of its portfolio companiee completing the second part of a privated placement of convertiblepreferred stock. Safeguard, a Wayne, Pa., investor in information-technolog and life-sciences companies, received $19. 5 million in cash from , which had borrowed that much ona $30 milliobn mezzanine debt facility it had with Safeguard (NYSE:SFE). The second part of Clarient’d private placement extinguished the debt andreleased $12.
3 million in cash that Safeguarxd had put up as collateral to suppor its guarantees of Clarient’s and eliminated Safeguard’s remaining commitments to provids additional capital to Clarient (NASDAQ:CLRT). The second part of the privatr placement wasfor $10.9 millionn and closed Thursday. The first for $29.1 million, closeds March 26. , a Westport., Conn.-base d venture capital firm, may stillp purchase another $10 million in convertible preferred stocko from Clarient in the private Safeguard said the private placement gives Oak effective control of approximately 21 percenttof Clarient’s outstanding shares, reducing Safeguard’s stakee to 47 percent of Clarient’s outstanding shares.
It also allowsz Clarient to extinguish all itsoutstanding debt, otherf than for receivable financing, providesx Clarient with additional working capital, and propels Clarient towardf its goal of achieving profitability in 2009 by eliminatingg interest expense, fees and amortization for the remainder of the Safeguard said. Clarient (NASDAQ:CLRT) provides anatomic pathology and molecularf testing servicesto pathologists, oncologist s and the pharmaceutical industry. It’s based in Alisl Viejo, Calif.
million in cash, and freed up another $12.w3 million in cash due to one of its portfolio companiee completing the second part of a privated placement of convertiblepreferred stock. Safeguard, a Wayne, Pa., investor in information-technolog and life-sciences companies, received $19. 5 million in cash from , which had borrowed that much ona $30 milliobn mezzanine debt facility it had with Safeguard (NYSE:SFE). The second part of Clarient’d private placement extinguished the debt andreleased $12.
3 million in cash that Safeguarxd had put up as collateral to suppor its guarantees of Clarient’s and eliminated Safeguard’s remaining commitments to provids additional capital to Clarient (NASDAQ:CLRT). The second part of the privatr placement wasfor $10.9 millionn and closed Thursday. The first for $29.1 million, closeds March 26. , a Westport., Conn.-base d venture capital firm, may stillp purchase another $10 million in convertible preferred stocko from Clarient in the private Safeguard said the private placement gives Oak effective control of approximately 21 percenttof Clarient’s outstanding shares, reducing Safeguard’s stakee to 47 percent of Clarient’s outstanding shares.
It also allowsz Clarient to extinguish all itsoutstanding debt, otherf than for receivable financing, providesx Clarient with additional working capital, and propels Clarient towardf its goal of achieving profitability in 2009 by eliminatingg interest expense, fees and amortization for the remainder of the Safeguard said. Clarient (NASDAQ:CLRT) provides anatomic pathology and molecularf testing servicesto pathologists, oncologist s and the pharmaceutical industry. It’s based in Alisl Viejo, Calif.
Sunday, September 16, 2012
UAW Local 31 approves GM concessions - Kansas City Business Journal:
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UAW Local 31’s members votecd for the concessions by roughly 63 percenty to37 percent, President Jeff Manning GM’s has about 2,100 union and about 300 salaried workers. The vote comees the day after GM’e bid to stave off its bondholders came up pushing the company closer to abankruptcy filing. GM said Tuesdat that its offer to bondholders totrade $27.2 billioh of unsecured debt for company stock failed to satisfhy the debt-reduction requirement in its loan agreements with the . The Detroig automaker (NYSE: GM) confirmed that the principap amount of notes tendered was substantially less than the amountgGM required. The offedr to bondholders expiredat 10:59 p.m. Tuesday.
The company’w board will meet to discusas thenext step, which many analysts expecyt to result in a bankruptcyu filing. The federal government already has loaned GM morethan $19 GM faces a government-imposed Mondah deadline for coming up with an acceptable plan for survivingv the economic crisis or filint bankruptcy.
UAW Local 31’s members votecd for the concessions by roughly 63 percenty to37 percent, President Jeff Manning GM’s has about 2,100 union and about 300 salaried workers. The vote comees the day after GM’e bid to stave off its bondholders came up pushing the company closer to abankruptcy filing. GM said Tuesdat that its offer to bondholders totrade $27.2 billioh of unsecured debt for company stock failed to satisfhy the debt-reduction requirement in its loan agreements with the . The Detroig automaker (NYSE: GM) confirmed that the principap amount of notes tendered was substantially less than the amountgGM required. The offedr to bondholders expiredat 10:59 p.m. Tuesday.
The company’w board will meet to discusas thenext step, which many analysts expecyt to result in a bankruptcyu filing. The federal government already has loaned GM morethan $19 GM faces a government-imposed Mondah deadline for coming up with an acceptable plan for survivingv the economic crisis or filint bankruptcy.
Saturday, September 15, 2012
Fires near Montacute at Adelaide Hills and Burra in South Australia's Mid ... - Herald Sun
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ABC Online | Fires near Montacute at Adelaide Hills and Burra in South Australia's Mid ... Herald Sun CFS firefighters have also extinguished a blaze that started in the centre of Burra, behind the council chambers and near the Paxton cottages, just before 2.30pm. The fires come as residents have been warned to prepare for extended power outages as a ... Bushfires in Adelaide Hills |
Thursday, September 13, 2012
LarsonAllen to acquire accounting firm Cronstrom, Osuch & Co. PC - Phoenix Business Journal:
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“This acquisition enhances our commitment to industry said PrincipalJon Gale, who runs Larson-Allen’s Phoenidx office. LarsonAllen has major resources devoted totheses sectors, which comprise its second-largest businesd line, behind health care. Cronstrom Osucnh specializes in auditing services fornonprofit organizations, government entitiex and school systems. Since its launcjh 22 years ago, the firm has grown to represent more than 130 client sin Arizona. Principal Dennis Osuch said the firms were in discussions for more than a year aftedr LarsonAllencontacted them.
“We had never thought about being acquiredf or merging with anyother firm,” said Osuch, but “itt was good fit.” All 14 employee of Cronstrom Osuch will relocate to LarsonAllen’s Mesa The three principals will retain their positionx and titles. LarsonAllen has searched for industry-specific acquisitions sincer entering the Phoenix markett in 2005 with its purchase of Hopkins Parker.
A year later, it acquired Gale and McLaren LLP, a Mesa firm that cateref to real estateand construction; and the Scottsdale-base d O’Connor Group, which boosted its healtg care, banking, real estate and dealership In October 2008, the firm acquired Tempe-based Skinner Tameromn & Co., which focused on real estate, wholesalers and retailers. Those deal have built LarsonAllen from a smallo outfit to a midsize firm to compete inthis region’s fragmentede accounting market, led by the Big Four in publi c accounting: KPMG International, PricewaterhouseCoopers, Ernstt & Young LLP and Deloittre & Touche.
“We’re going to be very strategidcgoing forward,” Gale said. Financial details of the transaction, expectecd to finalize June 1, were not
“This acquisition enhances our commitment to industry said PrincipalJon Gale, who runs Larson-Allen’s Phoenidx office. LarsonAllen has major resources devoted totheses sectors, which comprise its second-largest businesd line, behind health care. Cronstrom Osucnh specializes in auditing services fornonprofit organizations, government entitiex and school systems. Since its launcjh 22 years ago, the firm has grown to represent more than 130 client sin Arizona. Principal Dennis Osuch said the firms were in discussions for more than a year aftedr LarsonAllencontacted them.
“We had never thought about being acquiredf or merging with anyother firm,” said Osuch, but “itt was good fit.” All 14 employee of Cronstrom Osuch will relocate to LarsonAllen’s Mesa The three principals will retain their positionx and titles. LarsonAllen has searched for industry-specific acquisitions sincer entering the Phoenix markett in 2005 with its purchase of Hopkins Parker.
A year later, it acquired Gale and McLaren LLP, a Mesa firm that cateref to real estateand construction; and the Scottsdale-base d O’Connor Group, which boosted its healtg care, banking, real estate and dealership In October 2008, the firm acquired Tempe-based Skinner Tameromn & Co., which focused on real estate, wholesalers and retailers. Those deal have built LarsonAllen from a smallo outfit to a midsize firm to compete inthis region’s fragmentede accounting market, led by the Big Four in publi c accounting: KPMG International, PricewaterhouseCoopers, Ernstt & Young LLP and Deloittre & Touche.
“We’re going to be very strategidcgoing forward,” Gale said. Financial details of the transaction, expectecd to finalize June 1, were not
Wednesday, September 12, 2012
Moody
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Moody’s cut the Charlotte-based company’s ratingf to Caa2 from B3. The agency also lowered FairPoint’s ratingy to negative from rating-under-review. FairPoint’s ratings on its securesd and unsecured debt alsowere lowered. Moody’d says the downgrade is based on “Moody’s expectation of a high default probability anda lower, though still estimated recovery rate across all debt instruments.” The agency says its decisionh follows the telecommunication company’s announcement last week that it was launching a private exchange offer for its outstandingy 13.125 percent senior notes due in 2018.
FairPoint said the offe r was designed primarily to reducsethe company’s second- and third-quartef interest expenses. It also will help keep the company in compliancew with its senior secureed creditfacility agreement. FairPoint said it believes the exchanged offer is critical to its continued The company is working with its financia l adviser to evaluate itscapital structure. Last FairPoint bought ’s land-line operations in Maine and New Hampshirrefor $2.3 billion. The deal made FairPoint the country’s eighth-largest telephone But FairPoint took on substantiap debt to dothe deal, and the integration did not go smoothly.
Problemxs in converting billingto FairPoint’s system from Verizon’s led to slow collections and frustrated customers. Phone and e-mail service problemas cropped up across thenew network. And regulatore in the region expressed dissatisfaction with some ofthe operations. Durintg the first quarter, FairPoint drew $50 million undef its $170 million credit As of March 31, only $4.7 million remained available to The company says liquidity remains a In addition, cash collections have remainex below the levels it had before switching Verizon customers to the FairPoiny system. Should those factors persist, the companhy says it may be unablse or unwilling to makeits Oct.
1 interes payment on the notes, which could constitutde a default. The exchange offer expires July 22. Two weeks ago, Chiegf Financial Officer and FairPoint board member David Hauser announced he wouls retirefrom Charlotte-based Duke (NYSE:DUK) and becomer FairPoint’s chief executive and chairman. He will assume his new responsibilitiex uponGene Johnson’s retiremenr as FairPoint chairman and CEO on Johnson, a co-founder of previously announced his plans to retire. He has been the company’se chief executive since 2002.
Hauser has been a membefr of FairPoint’s board since February 2005, servinhg as a director, chairman of the compensation committe e and a member of theaudit committee. “Whilee it is gratifying to be namecd chairman and CEO of thislongstanding organization, I am very awarer of the operational and financial concernd surrounding the company,” Hauser says. “My primary focus will be to addres s these concerns in quick succession and empowere our team to seek andimplementt solutions. There is a lot of work to be and I am looking forward togettinyg started.
”
Moody’s cut the Charlotte-based company’s ratingf to Caa2 from B3. The agency also lowered FairPoint’s ratingy to negative from rating-under-review. FairPoint’s ratings on its securesd and unsecured debt alsowere lowered. Moody’d says the downgrade is based on “Moody’s expectation of a high default probability anda lower, though still estimated recovery rate across all debt instruments.” The agency says its decisionh follows the telecommunication company’s announcement last week that it was launching a private exchange offer for its outstandingy 13.125 percent senior notes due in 2018.
FairPoint said the offe r was designed primarily to reducsethe company’s second- and third-quartef interest expenses. It also will help keep the company in compliancew with its senior secureed creditfacility agreement. FairPoint said it believes the exchanged offer is critical to its continued The company is working with its financia l adviser to evaluate itscapital structure. Last FairPoint bought ’s land-line operations in Maine and New Hampshirrefor $2.3 billion. The deal made FairPoint the country’s eighth-largest telephone But FairPoint took on substantiap debt to dothe deal, and the integration did not go smoothly.
Problemxs in converting billingto FairPoint’s system from Verizon’s led to slow collections and frustrated customers. Phone and e-mail service problemas cropped up across thenew network. And regulatore in the region expressed dissatisfaction with some ofthe operations. Durintg the first quarter, FairPoint drew $50 million undef its $170 million credit As of March 31, only $4.7 million remained available to The company says liquidity remains a In addition, cash collections have remainex below the levels it had before switching Verizon customers to the FairPoiny system. Should those factors persist, the companhy says it may be unablse or unwilling to makeits Oct.
1 interes payment on the notes, which could constitutde a default. The exchange offer expires July 22. Two weeks ago, Chiegf Financial Officer and FairPoint board member David Hauser announced he wouls retirefrom Charlotte-based Duke (NYSE:DUK) and becomer FairPoint’s chief executive and chairman. He will assume his new responsibilitiex uponGene Johnson’s retiremenr as FairPoint chairman and CEO on Johnson, a co-founder of previously announced his plans to retire. He has been the company’se chief executive since 2002.
Hauser has been a membefr of FairPoint’s board since February 2005, servinhg as a director, chairman of the compensation committe e and a member of theaudit committee. “Whilee it is gratifying to be namecd chairman and CEO of thislongstanding organization, I am very awarer of the operational and financial concernd surrounding the company,” Hauser says. “My primary focus will be to addres s these concerns in quick succession and empowere our team to seek andimplementt solutions. There is a lot of work to be and I am looking forward togettinyg started.
”
Tuesday, September 11, 2012
Mavs introduce 5 new veteran players - Yahoo! Sports
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Kansas City Star | Mavs introduce 5 new veteran players Yahoo! Sports More than two months after » |
Sunday, September 9, 2012
Report: Columbus holding its own amid recession - Memphis Business Journal:
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A report from D.C.-based liberal public-policy think tank dubberd the MetroMonitor bills itself asa “beneath the hood” recession-erza look at metros with more than 500,00p residents as of 2007. The reporg placed the Columbus metropolitan statistical area 40th among those rankexd forits strength, based on unemployment, wage, output, home priceds and foreclosure data. No othetr Ohio city made the top 50. Cleveland, Akron and Dayton found slots from 61stto 80th. Toledl was ranked the 10th-weakest major metropolitan area Leading the pack in the report was San one of four Texas cities amongvthe nation’s top five. Detroiy was ranked last, followed by Cape Fla.
, and Stockton, Calif., two areas devastaterd by the foreclosure crisis. Brookings found that the metropolitamn perspectiveon states’ performance amid the recessionj “suggests that recovery may be quitr uneven as well, posing particular challenges for policymakers seekinyg to ensure a truly national rising economic Columbus’ strengths and weaknesses in the report The city ranked 25th for its 1.7 percenr decline in employment since its peak earlieer this decade. Columbus found itsel f at 32nd for itsmodest 0.
4 percent gain in inflation-adjuster housing prices for the first threer months of 2008 compared with the same period this But the city was ranked near the bottom of the at 80th, for the 4.8 percent decline in its gross metropolitabn product – a measure of the goods and services produced in the area in the first quarter of 2009 compared with its pre-recessionh peak. Comparing the last three months of 2008 with the firsf quarter thisyear alone, the GMP dropped 1.7 representing the 14th-worst decline among the cities measured. To download the full click .
A report from D.C.-based liberal public-policy think tank dubberd the MetroMonitor bills itself asa “beneath the hood” recession-erza look at metros with more than 500,00p residents as of 2007. The reporg placed the Columbus metropolitan statistical area 40th among those rankexd forits strength, based on unemployment, wage, output, home priceds and foreclosure data. No othetr Ohio city made the top 50. Cleveland, Akron and Dayton found slots from 61stto 80th. Toledl was ranked the 10th-weakest major metropolitan area Leading the pack in the report was San one of four Texas cities amongvthe nation’s top five. Detroiy was ranked last, followed by Cape Fla.
, and Stockton, Calif., two areas devastaterd by the foreclosure crisis. Brookings found that the metropolitamn perspectiveon states’ performance amid the recessionj “suggests that recovery may be quitr uneven as well, posing particular challenges for policymakers seekinyg to ensure a truly national rising economic Columbus’ strengths and weaknesses in the report The city ranked 25th for its 1.7 percenr decline in employment since its peak earlieer this decade. Columbus found itsel f at 32nd for itsmodest 0.
4 percent gain in inflation-adjuster housing prices for the first threer months of 2008 compared with the same period this But the city was ranked near the bottom of the at 80th, for the 4.8 percent decline in its gross metropolitabn product – a measure of the goods and services produced in the area in the first quarter of 2009 compared with its pre-recessionh peak. Comparing the last three months of 2008 with the firsf quarter thisyear alone, the GMP dropped 1.7 representing the 14th-worst decline among the cities measured. To download the full click .
Saturday, September 8, 2012
Pilots women soccer tie Notre Dame at home, 1-1 (photo essay) - OregonLive.com
zvonkovaleoqim.blogspot.com
OregonLive.com | Pilots women soccer tie Notre Dame at home, 1-1 (photo essay) OregonLive.com 1 of 23 Link to this photo | Comments about this photo essay (0) PORTLAND, OREGON - September 7, 2012 - Pilots keeper #0 Erin Dees jumps high to catch a loose ball in front of her goal but comes down on teammate #7 Lorielle McCluskie but keeps the ... |
Thursday, September 6, 2012
Dish Network to hand out converter boxes in Houston - Houston Business Journal:
zvonkovaleoqim.blogspot.com
The estimates that 1.6 million peoplwe in the Houston area have ordere d coupons for theirconverter boxes, but only 870,17 2 coupons have been redeemed as of May 30. The “Coupon program is a nationwider initiative to get customers ready for the conversio n to digital television signals onJune 12. Convertet boxes are only available to thosew with avalid $40 coupon. Customers can go to Cossaboonm YMCA at 7903 South Loop East onJune 5, or M.D. Anderson Family YMCA at 705 Cavalcadwe onJune 6. Dish Network handecd out about 400 boxes in Dallasxlast weekend, according to Marcel Guajardo, a spokesman for the The current plan is to hand out about 400 to 500 boxex in Houston.
Guajardo said representativesw from the FCC will also be on hand to answefr questions related to the digital conversion and what household need to do to be readyy forthe switch.
The estimates that 1.6 million peoplwe in the Houston area have ordere d coupons for theirconverter boxes, but only 870,17 2 coupons have been redeemed as of May 30. The “Coupon program is a nationwider initiative to get customers ready for the conversio n to digital television signals onJune 12. Convertet boxes are only available to thosew with avalid $40 coupon. Customers can go to Cossaboonm YMCA at 7903 South Loop East onJune 5, or M.D. Anderson Family YMCA at 705 Cavalcadwe onJune 6. Dish Network handecd out about 400 boxes in Dallasxlast weekend, according to Marcel Guajardo, a spokesman for the The current plan is to hand out about 400 to 500 boxex in Houston.
Guajardo said representativesw from the FCC will also be on hand to answefr questions related to the digital conversion and what household need to do to be readyy forthe switch.
Wednesday, September 5, 2012
Poor Lightening Could Affect Pupils Sight - Daily Guide
erofeyporgrinin.blogspot.com
Daily Guide | Poor Lightening Could Affect Pupils Sight Daily Guide Poor Lightening Could Affect Pupils Sight. Published on September 5, 2012. Lee Ocran distributing school uniforms and other items to school children as part of the 'My First Day at School' programme. A NUMBER of pupils within the Greater Accra Region ... |
Tuesday, September 4, 2012
Ten banks allowed to repay TARP funds - East Bay Business Times:
ogarawo.wordpress.com
The Treasury Department did not name the10 banks, but said they were beinyg approved for early repayment of the federakl bailout funds under the Troubled Asset Relief Program because the so-called stress testx performed by the government revealed they were healthyg enough to pay back the money. The departmenrt said the institutions have met the requirement s for repayment established by federalbanking supervisors. It note d that many banks recently have raised equityh capital from private investors and haveissuedc long-term debt that is not guaranteec by the government.
“These repaymentz are an encouraging sign offinancial repair, but we stillp have work to do,” Treasurty Secretary Tim Geithner More than 600 banks received a totalp of nearly $200 billion through the department’s Capital Purchaswe Program. About $2 billion of this moneyy was paidback previously. Under the program, banks that repay their preferredc stock can repurchase the warrants that the Treasur yDepartment holds. Besides the proceeds from the sales ofthe warrants, the departmenty also has received $4.5 billion in dividend paymentz from program participants. Proceeds from the repaymente to go theTreasury Department’sd general fund.
They can be used to reducse the national debt and can serve as a cushionb in case the department needs to responr to financial emergencies inthe future, the departmenrt said. The list of 10 banks was not publicly but many of the banks confirmed separatelhy in press releases that they received approval to buy back preferref shares sold to the federal including two banks withsizable Milwaukee-area (NYSE: USB) and J.P. Morgan Chase JPM). U.S. Bank was cleared to repayh $6.6 billion in TARP fundsw and Chase was approved to repayall $25 billiohn in TARP funds it received.
Locally based banks that received TARP fundd include andof Milwaukee, of Menomonee Falls and in M&I, the Milwaukee-area's largest bank, was not amont the list of 10 bank approved to repay its TARP according to media reports. M&I said in May that it beganb to sell stock in a sale that coul d raise as muchas $350 million in part of which the bank said it may use to repa y a portion of the $1.7 billionb capital infusion it received in November 2008 undefr TARP if approved by regulators.
The Treasury Department did not name the10 banks, but said they were beinyg approved for early repayment of the federakl bailout funds under the Troubled Asset Relief Program because the so-called stress testx performed by the government revealed they were healthyg enough to pay back the money. The departmenrt said the institutions have met the requirement s for repayment established by federalbanking supervisors. It note d that many banks recently have raised equityh capital from private investors and haveissuedc long-term debt that is not guaranteec by the government.
“These repaymentz are an encouraging sign offinancial repair, but we stillp have work to do,” Treasurty Secretary Tim Geithner More than 600 banks received a totalp of nearly $200 billion through the department’s Capital Purchaswe Program. About $2 billion of this moneyy was paidback previously. Under the program, banks that repay their preferredc stock can repurchase the warrants that the Treasur yDepartment holds. Besides the proceeds from the sales ofthe warrants, the departmenty also has received $4.5 billion in dividend paymentz from program participants. Proceeds from the repaymente to go theTreasury Department’sd general fund.
They can be used to reducse the national debt and can serve as a cushionb in case the department needs to responr to financial emergencies inthe future, the departmenrt said. The list of 10 banks was not publicly but many of the banks confirmed separatelhy in press releases that they received approval to buy back preferref shares sold to the federal including two banks withsizable Milwaukee-area (NYSE: USB) and J.P. Morgan Chase JPM). U.S. Bank was cleared to repayh $6.6 billion in TARP fundsw and Chase was approved to repayall $25 billiohn in TARP funds it received.
Locally based banks that received TARP fundd include andof Milwaukee, of Menomonee Falls and in M&I, the Milwaukee-area's largest bank, was not amont the list of 10 bank approved to repay its TARP according to media reports. M&I said in May that it beganb to sell stock in a sale that coul d raise as muchas $350 million in part of which the bank said it may use to repa y a portion of the $1.7 billionb capital infusion it received in November 2008 undefr TARP if approved by regulators.
Sunday, September 2, 2012
Cattle producers taking a hit as corn prices rise - AberdeenNews.com
coras-newport.blogspot.com
Cattle producers taking a hit as corn prices rise AberdeenNews.com Cattle producers are being hit hard by a nationwide drought that has caused a shortage of hay and pushed corn prices to record levels. Some area cattlemen are reducing their herds rather than take large financial loses. Horace Walter, who operates ... |
Saturday, September 1, 2012
First Niagara Financial Group, Inc. Company Profile | FNFG Company Information
zuloraxelewo.blogspot.com
First Niagara was founded as a communitu bank more than 139 years agoin N.Y., located 30 miles from where we remain headquartered. Today, we are a financial servicess company committed to thesame community-oriented philosophyg yet we are able to serve a greater number of customeres with added products, services and convenience. We offer personapl and commercial banking, investment and insurance products primarily throughbanking centers, ATMs and several financiapl services subsidiaries throughout New York Our customers also have the convenience of advancexd telephone and online banking. We have achievede tremendous success overthe years.
Our president and CEO creditx our company's success to our people and our Both have given us the ability to adapt and change in a verycompetitivwe industry, all while not losing sight of our In the last five years alone we have triples in size, adding new markets, services and sourcez of income. We have become a market player in21 counties, with a workforce of 2,00p and 113 branches that span across New York Our success is also attributable to our commitmenr to customers, building customeer relationships and responsiveness.
We are also committed to the communitied we serve by offering our talent and treasure to the various agenciesw and activities that are importanr keeping them strongand vital.
First Niagara was founded as a communitu bank more than 139 years agoin N.Y., located 30 miles from where we remain headquartered. Today, we are a financial servicess company committed to thesame community-oriented philosophyg yet we are able to serve a greater number of customeres with added products, services and convenience. We offer personapl and commercial banking, investment and insurance products primarily throughbanking centers, ATMs and several financiapl services subsidiaries throughout New York Our customers also have the convenience of advancexd telephone and online banking. We have achievede tremendous success overthe years.
Our president and CEO creditx our company's success to our people and our Both have given us the ability to adapt and change in a verycompetitivwe industry, all while not losing sight of our In the last five years alone we have triples in size, adding new markets, services and sourcez of income. We have become a market player in21 counties, with a workforce of 2,00p and 113 branches that span across New York Our success is also attributable to our commitmenr to customers, building customeer relationships and responsiveness.
We are also committed to the communitied we serve by offering our talent and treasure to the various agenciesw and activities that are importanr keeping them strongand vital.
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