Texas Watchdog | Most HISD Trustees Say Give the Money Back to the Schools Now Houston Press (blog) 9 2011 at 10:01 AM รข€‹A majority of Houston ISD trustees meeting Monday afternoon said they want $18.5 million -- the amount of money they initi » |
Tuesday, August 9, 2011
Most HISD Trustees Say Give the Money Back to the Schools Now - Houston Press (blog)
http://www.gite-posada.com/varen.html
Sunday, August 7, 2011
BofA gets more bailout aid from feds - Kansas City Business Journal:
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BofA, based in Charlotte, N.C., considered backing out of the deal or renegotiatintg its terms when losses at Merrilkl Lynch worsened significantly in BofA Chief Executive Kenneth Lewisx said federal regulators feared that canceling or delaying the deal woulr severely harmthe nation’s financial The package of direct investment and loss protection was announcedf soon after midnight The , the and the participatesd in negotiations. The deal includes a requiremen that BofA submitits executive-compensation plan to the governmentg for approval. The company (NYSE: BAC) decidexd to go ahead with its Jan. 1 purchase of Merrill after the new investmentt and loan guarantees werein place.
BofA ranks as the depositt market-share leader in Kansas City. The bank had an 11.9 percenf share of deposits in the Kansae City area as ofJune 30, the most recent figures During a conference call Friday morning, Lewiss insisted that the bank had not missed any problemsd at Merrill in doing its due diligence before making the deal last year. He said the capita and credit markets nose-dived late in the fourtuh quarter. That produced much deeper losses at Merrill estimatedat $15.5 billion for the quarter than had been anticipated. “I a nutshell, it was much highetr deterioration in assets than we had identified as hetold analysts.
“It was more losses than anyond wouldhave forecast, I think.” The additionalp $20 billion makes BofA one of the largest recipients of federalk cash from the the $700 billiob Troubled Assets Relief Program adopted last year by BofA got $15 billion from that program in October. When it boughtf Merrill, it got the $10 billion that was slatedd to go to theinvestment bank. With the latesrt injection, the bank will have received $45 Inc. (NYSE:C) is the other largestf recipient. The government will get preferred stoci with an 8 percent dividend for its latest investmengtin BofA.
In addition to that investment, the government will guaranteer BofA against losses on a poolof $118 billionj in loans, securities backed by residential and commerciao real estate loans and other BofA will be responsible for the firsyt $10 billion in losses. After the government will assume 90 percent of anyadditionalp losses. In return for the loss the bank will give the government anadditional $4 billion in preferred stock. It also will grant the governmen t warrants that can be redeemed for additionalppreferred stock. Lewis defendex the Merrill deal as a good business move for BofA despitwe thecurrent problems.
The deal is expected to hurt BofA’d bottom line at leasgt through 2011. And the speedd and the strength of any turnaroundc there depends on the speed and strength of an economic recovery from the current But Lewis contended that the purchase of Merrillmakes long-term strategicv sense. It will make BofA a significantlt more profitable company when the economy recovers and capitapl markets returnto normal. And he said it makew good business sense for BofA to be involve d in efforts to help that Buying Merrill, even in the new and more difficult puts BofA in the forefront of cooperating with the government on recovery efforts, Lewis said.
The public, he said, will remembeer that BofA was there for the nation when it needed and that will create business opportunitiesin recovery.
BofA, based in Charlotte, N.C., considered backing out of the deal or renegotiatintg its terms when losses at Merrilkl Lynch worsened significantly in BofA Chief Executive Kenneth Lewisx said federal regulators feared that canceling or delaying the deal woulr severely harmthe nation’s financial The package of direct investment and loss protection was announcedf soon after midnight The , the and the participatesd in negotiations. The deal includes a requiremen that BofA submitits executive-compensation plan to the governmentg for approval. The company (NYSE: BAC) decidexd to go ahead with its Jan. 1 purchase of Merrill after the new investmentt and loan guarantees werein place.
BofA ranks as the depositt market-share leader in Kansas City. The bank had an 11.9 percenf share of deposits in the Kansae City area as ofJune 30, the most recent figures During a conference call Friday morning, Lewiss insisted that the bank had not missed any problemsd at Merrill in doing its due diligence before making the deal last year. He said the capita and credit markets nose-dived late in the fourtuh quarter. That produced much deeper losses at Merrill estimatedat $15.5 billion for the quarter than had been anticipated. “I a nutshell, it was much highetr deterioration in assets than we had identified as hetold analysts.
“It was more losses than anyond wouldhave forecast, I think.” The additionalp $20 billion makes BofA one of the largest recipients of federalk cash from the the $700 billiob Troubled Assets Relief Program adopted last year by BofA got $15 billion from that program in October. When it boughtf Merrill, it got the $10 billion that was slatedd to go to theinvestment bank. With the latesrt injection, the bank will have received $45 Inc. (NYSE:C) is the other largestf recipient. The government will get preferred stoci with an 8 percent dividend for its latest investmengtin BofA.
In addition to that investment, the government will guaranteer BofA against losses on a poolof $118 billionj in loans, securities backed by residential and commerciao real estate loans and other BofA will be responsible for the firsyt $10 billion in losses. After the government will assume 90 percent of anyadditionalp losses. In return for the loss the bank will give the government anadditional $4 billion in preferred stock. It also will grant the governmen t warrants that can be redeemed for additionalppreferred stock. Lewis defendex the Merrill deal as a good business move for BofA despitwe thecurrent problems.
The deal is expected to hurt BofA’d bottom line at leasgt through 2011. And the speedd and the strength of any turnaroundc there depends on the speed and strength of an economic recovery from the current But Lewis contended that the purchase of Merrillmakes long-term strategicv sense. It will make BofA a significantlt more profitable company when the economy recovers and capitapl markets returnto normal. And he said it makew good business sense for BofA to be involve d in efforts to help that Buying Merrill, even in the new and more difficult puts BofA in the forefront of cooperating with the government on recovery efforts, Lewis said.
The public, he said, will remembeer that BofA was there for the nation when it needed and that will create business opportunitiesin recovery.
Wednesday, July 27, 2011
Lightyear could add 148 jobs with new product, services - Business First of Louisville:
http://omidad.wordpress.com/
The telecommunications company, which sells long-distance and local telephone servicesto small- and medium-sized launched a wireless product last year with salez to residential customers. It now is consideringb a project to expand its wireless servicd and launch aprepaid product. The expansioh would require the addition of thenew jobs, which woulc have an annual payroll of $4.3 Lightyear introduced its potential project at a June 25 meetingg of the Kentucky Economic Development Finance Authorit y in Frankfort. The company received preliminary approvalfor $2.8 milliojn in state tax incentives for up to 10 years.
45,000-square-foott expansion possible Lightyear officials could not be reached for comment beforeBusiness First’s press and details of its possible expansiojn were sketchy. Company president and CEO J. Shermanh Henderson III said in a news releaswfrom , the metro chamber of that Lightyear is “excited” to participatde in the state incentive program. “We look forward to the possibilitt of expanding our operationsin Louisville,” Henderson In its filing with the state, Lightyea r said it would need a 45,000-square-foot expansion to its existingt 30,000-square-foot customer support center if it proceedd with its plans.
Lightyear’s headquarterds are located at 1901 Eastpoinft Parkway in the EastpointBusiness Center. The company’s totao investment in the project wouldbe $6.3 according to its filing with the KEDFAw board. It would invest $356,70o0 in facilities and equipment. Lightyea provides telecommunications services to the commerciall andresidential sectors. Its products include local and long-distance phone service, voice-over-Internet-protocol Internet access, calling cards and multimedia conferencing. The compan y is a successor to Lightyear Communications whose parent company emerged from Chapter 11 bankruptcyy reorganizationin 2004.
Lightyear had 190 employees in 2008, accordint to data from the Kentucky Cabinett forEconomic Development. Henderson founded the formerly knownas UniDial, in 1993. Lightyear selles its services nationwide through an independentsaless force. It has 80,000 customers in the United States andPuerto Rico, accordiny to a news release on the company Web site, It has annual revenue of more than $70 the release said. Business First staff writer Ben Adkinsa contributed tothis report.
The telecommunications company, which sells long-distance and local telephone servicesto small- and medium-sized launched a wireless product last year with salez to residential customers. It now is consideringb a project to expand its wireless servicd and launch aprepaid product. The expansioh would require the addition of thenew jobs, which woulc have an annual payroll of $4.3 Lightyear introduced its potential project at a June 25 meetingg of the Kentucky Economic Development Finance Authorit y in Frankfort. The company received preliminary approvalfor $2.8 milliojn in state tax incentives for up to 10 years.
45,000-square-foott expansion possible Lightyear officials could not be reached for comment beforeBusiness First’s press and details of its possible expansiojn were sketchy. Company president and CEO J. Shermanh Henderson III said in a news releaswfrom , the metro chamber of that Lightyear is “excited” to participatde in the state incentive program. “We look forward to the possibilitt of expanding our operationsin Louisville,” Henderson In its filing with the state, Lightyea r said it would need a 45,000-square-foot expansion to its existingt 30,000-square-foot customer support center if it proceedd with its plans.
Lightyear’s headquarterds are located at 1901 Eastpoinft Parkway in the EastpointBusiness Center. The company’s totao investment in the project wouldbe $6.3 according to its filing with the KEDFAw board. It would invest $356,70o0 in facilities and equipment. Lightyea provides telecommunications services to the commerciall andresidential sectors. Its products include local and long-distance phone service, voice-over-Internet-protocol Internet access, calling cards and multimedia conferencing. The compan y is a successor to Lightyear Communications whose parent company emerged from Chapter 11 bankruptcyy reorganizationin 2004.
Lightyear had 190 employees in 2008, accordint to data from the Kentucky Cabinett forEconomic Development. Henderson founded the formerly knownas UniDial, in 1993. Lightyear selles its services nationwide through an independentsaless force. It has 80,000 customers in the United States andPuerto Rico, accordiny to a news release on the company Web site, It has annual revenue of more than $70 the release said. Business First staff writer Ben Adkinsa contributed tothis report.
Sunday, July 24, 2011
WCI, developer of Westshore Yacht Club, files reorganization plan - Triangle Business Journal:
ocybakenos.wordpress.com
The company filed a plan of reorganizatio n with the for the District ofDelawared Monday, about 10 monthsz after it Chapter 11 bankruptcy Under the plan, the company’s senior secured lenders will receive new firsgt lien debt totaling $450 million, including a $150 millionm payment-in-kind component, a release said. The seniorr secured lenders will hold a 95 percent equitu stake in the reorganized The remaining 5 percent equity stak would be shared bythe company’s unsecuredd creditors.
The unsecured creditors’ share would begin to increass when the new debt is fullg retired and would reach a maximum of 35 after the secured lenders have receiveed payments ofabout $70 million, the amount currently owed to them, the release said. The plan reflects positions taken in lengthy negotiationz but has not been approved or recommendedby creditors, the releass said. WCI said in the release that it wantesd to get a plan on file with the bankruptcyg court so discussions could continu and a definitive timeline for exit couledbe established.
WCI also reaffirmed an earlier decisiob to suspend all Floridqa homebuilding new constructionactivities indefinitely, pending market the release said, although it will completwe homes under construction and continue maintenance of its communities. WCI (PINKK SHEETS: WCIMQ) is based in Bonita Springs but has closr ties to the Tampa Bay WCI communities in the Bay area includew inHillsborough County, in Tampa, in Bradentob and the in Venice.
The company filed a plan of reorganizatio n with the for the District ofDelawared Monday, about 10 monthsz after it Chapter 11 bankruptcy Under the plan, the company’s senior secured lenders will receive new firsgt lien debt totaling $450 million, including a $150 millionm payment-in-kind component, a release said. The seniorr secured lenders will hold a 95 percent equitu stake in the reorganized The remaining 5 percent equity stak would be shared bythe company’s unsecuredd creditors.
The unsecured creditors’ share would begin to increass when the new debt is fullg retired and would reach a maximum of 35 after the secured lenders have receiveed payments ofabout $70 million, the amount currently owed to them, the release said. The plan reflects positions taken in lengthy negotiationz but has not been approved or recommendedby creditors, the releass said. WCI said in the release that it wantesd to get a plan on file with the bankruptcyg court so discussions could continu and a definitive timeline for exit couledbe established.
WCI also reaffirmed an earlier decisiob to suspend all Floridqa homebuilding new constructionactivities indefinitely, pending market the release said, although it will completwe homes under construction and continue maintenance of its communities. WCI (PINKK SHEETS: WCIMQ) is based in Bonita Springs but has closr ties to the Tampa Bay WCI communities in the Bay area includew inHillsborough County, in Tampa, in Bradentob and the in Venice.
Friday, July 22, 2011
Four Points Centre lands new office tenant - Denver Business Journal:
oryucyjofec1482.blogspot.com
“We are extremely excited to sign a leass with such an outstanding company as said Mark Greiner ofOxford Commercial, the project’s leasing “This lease with THQ demonstrates that first-classs office buildings continue to attract tenanr interest even in challenging markets.” THQ will move into Four Pointss this fall. Four Points Centre has 200,000 squaree feet of office space, 270,000 square feet of retail space and 550multifamilyh apartments. The development will ultimately have an additional 1 million square feet ofofficee space, 250,000 square feet of retaikl space and a 250-room hotel.
The new leaswe is significant since Four Pointw is in an area of Austin that has seen officer vacancy rise in recent months as millionse of square feet of new product havebeen delivered. Four apartments do have as does itsretail — includingg an HEB and Target. Davix Kimball and Keith Zimmerman with UGL Equis representedTHQ Inc. The developmenr has also been awarded Gold rating underthe ’s Leadership in Energy and Environmental Design for its core and shell “As part of Opportunity Austin, we are in constan contact with a variety of businesses contemplating movinfg to or growing in Austin.
With greater companies are seeking eco-friendly said Gary Farmer, chairman of the Opportunitty Austin economicdevelopment initiative. “It’s importanr to have such spacereadily available.”
“We are extremely excited to sign a leass with such an outstanding company as said Mark Greiner ofOxford Commercial, the project’s leasing “This lease with THQ demonstrates that first-classs office buildings continue to attract tenanr interest even in challenging markets.” THQ will move into Four Pointss this fall. Four Points Centre has 200,000 squaree feet of office space, 270,000 square feet of retail space and 550multifamilyh apartments. The development will ultimately have an additional 1 million square feet ofofficee space, 250,000 square feet of retaikl space and a 250-room hotel.
The new leaswe is significant since Four Pointw is in an area of Austin that has seen officer vacancy rise in recent months as millionse of square feet of new product havebeen delivered. Four apartments do have as does itsretail — includingg an HEB and Target. Davix Kimball and Keith Zimmerman with UGL Equis representedTHQ Inc. The developmenr has also been awarded Gold rating underthe ’s Leadership in Energy and Environmental Design for its core and shell “As part of Opportunity Austin, we are in constan contact with a variety of businesses contemplating movinfg to or growing in Austin.
With greater companies are seeking eco-friendly said Gary Farmer, chairman of the Opportunitty Austin economicdevelopment initiative. “It’s importanr to have such spacereadily available.”
Wednesday, July 20, 2011
Go green, save green: With the right tech, it
http://gucaqoh.comli.com/
While some companies may think “goinfg green” is too costly, there are several technologies that can economicallgy promote environmental sustainability throughout anentire business. Teleworking: Gone are the days wherde a home office simply meant having a phone, PC and Internet Today, all of these technologies are integratee so employee collaboration doesn’t miss a even when away from the Replacing traditional voice systems and bringing voic communications, e-mail and instant messaging togetherr can reduce hardware, service and maintenance costs.
Researcg by found that such tactics can reduce travel from 10 to 30 ultimately reducing the number of cars onthe • Virtualization: Many businesses believe they must deployu several servers to perform any numbert of tasks. Not true. Virtualization maximizew server potential by allowing one device to do the work that previouslgy took several dedicated serversto do. With more systemds running on fewerphysical machines, businessezs are estimated to reduce energy costs by 90 percent. Remember the obvious: Instead of disrupting workdays by deploying new softwarde and technologies thatare “more green,” companies shoulr utilize the resources at their fingertips.
For using the “sleep” mode on 10 companyh PCs is equivalent to takingg one car offthe road. Companiese should put into place policies to take advantageof energy-savin g tools, as according to a recent 25 percent of employees leave theidr computers running all weekend and 65 percent run a screen saverr rather than sleep. While companies are re-evaluating their carbob footprints, they should also take inventory of their softwarer licensing agreements as they may find rightds for unused software they already own that providethese power-management features.
Companies should rest assurer knowing that they can easily reducetheif organization’s carbon footprint by simply taking advantaged of a tool used everyday — As businesses look into the they should keep in mind the world around them and how easily they can help make a difference.
While some companies may think “goinfg green” is too costly, there are several technologies that can economicallgy promote environmental sustainability throughout anentire business. Teleworking: Gone are the days wherde a home office simply meant having a phone, PC and Internet Today, all of these technologies are integratee so employee collaboration doesn’t miss a even when away from the Replacing traditional voice systems and bringing voic communications, e-mail and instant messaging togetherr can reduce hardware, service and maintenance costs.
Researcg by found that such tactics can reduce travel from 10 to 30 ultimately reducing the number of cars onthe • Virtualization: Many businesses believe they must deployu several servers to perform any numbert of tasks. Not true. Virtualization maximizew server potential by allowing one device to do the work that previouslgy took several dedicated serversto do. With more systemds running on fewerphysical machines, businessezs are estimated to reduce energy costs by 90 percent. Remember the obvious: Instead of disrupting workdays by deploying new softwarde and technologies thatare “more green,” companies shoulr utilize the resources at their fingertips.
For using the “sleep” mode on 10 companyh PCs is equivalent to takingg one car offthe road. Companiese should put into place policies to take advantageof energy-savin g tools, as according to a recent 25 percent of employees leave theidr computers running all weekend and 65 percent run a screen saverr rather than sleep. While companies are re-evaluating their carbob footprints, they should also take inventory of their softwarer licensing agreements as they may find rightds for unused software they already own that providethese power-management features.
Companies should rest assurer knowing that they can easily reducetheif organization’s carbon footprint by simply taking advantaged of a tool used everyday — As businesses look into the they should keep in mind the world around them and how easily they can help make a difference.
Monday, July 18, 2011
Zila posts $1.5M loss, warns of bankruptcy without more funding - Pacific Business News (Honolulu):
qozito.wordpress.com
The Phoenix oral cancer diagnostics companty released itsfiscal third-quarter result Tuesday, showing a loss of $1.5 millioj on $5 million in revenue for the three months endexd April 30. That compares with a $4.4 millionb loss on $6.8 million in revenu e for the same periosdin 2008. For the first nine monthsz of 2009, Zila lost nearly $30 millionm on revenue of $15.5 million, compared with $14 million in losses on $20 millionn in revenue. In its quarterl filing with the U.S. Securities and Exchangew Commission, Zila said revenue has been negativelyu impacted by the economy and because of customer concern about its viability as anongoinv business.
“Concerns about our financial viability have also contributed to an increasexd turnover in our field sales force and other key stafcf areas and have led to a reduction in our marketint effectiveness and our reach to new and existing the company said in its To stem theblood loss, Zila has continued salaryg reductions for a number of managemen t personnel, reduced its field salesa force by 15 eliminated its employee stock purchase furloughed certain manufacturing production personnel and reduced trade show Still, the decline in revenue meanxs Zila has been cutting into its cash As of April 30, the company had $3.1 millionj in cash and cash compared with $2.5 million on Jan.
31, $3.2 million Oct. 31, and $4.5 million July 31, 2008. “In orded to continue as a going concernn and fund our curreny level of operations over the next12 months, we will requird additional funding and need to restructure or retire our senior secured convertible notes,” the filingf reads. “If we are unabl to execute these strategies, we will likely be forced to file for protection under Chapter 11 of the Federal Bankruptcyt Code or liquidate the company underr Chapter 7 of the FederalBankruptcy Code.” In Zila transferred the listing of its commonj stock from the Nasdaw Global Market to Nasdaq’s Capital Market, continuing to trade under the symbol ZILA.
This allowe the company to continue itslisting status, whicnh it was in danger of losingf because the stock price has failexd to remain above $1 for the requirex time. The stock closed at 62 cent a share Tuesday. Its 52-weekj range is 3 cents and $3.08 a share. The company has morpheds over the years, from selling Zilactin cold cream medication and vitamijn C products to focus on cancer detection productxs marketed directlyto dentists. In May, company officials testified at a congressional heariny on innovative technologyfor veterans, urginv legislators to press the U.S.
Department of Veterans Affairse to expand the useof Zila’s ViziLitd Plus for veterans, who are at a higher risk of oral Zila has a five-yea r contract to market ViziLite Plus to 48 VA denta l clinics and 154 Department of Defense dental
The Phoenix oral cancer diagnostics companty released itsfiscal third-quarter result Tuesday, showing a loss of $1.5 millioj on $5 million in revenue for the three months endexd April 30. That compares with a $4.4 millionb loss on $6.8 million in revenu e for the same periosdin 2008. For the first nine monthsz of 2009, Zila lost nearly $30 millionm on revenue of $15.5 million, compared with $14 million in losses on $20 millionn in revenue. In its quarterl filing with the U.S. Securities and Exchangew Commission, Zila said revenue has been negativelyu impacted by the economy and because of customer concern about its viability as anongoinv business.
“Concerns about our financial viability have also contributed to an increasexd turnover in our field sales force and other key stafcf areas and have led to a reduction in our marketint effectiveness and our reach to new and existing the company said in its To stem theblood loss, Zila has continued salaryg reductions for a number of managemen t personnel, reduced its field salesa force by 15 eliminated its employee stock purchase furloughed certain manufacturing production personnel and reduced trade show Still, the decline in revenue meanxs Zila has been cutting into its cash As of April 30, the company had $3.1 millionj in cash and cash compared with $2.5 million on Jan.
31, $3.2 million Oct. 31, and $4.5 million July 31, 2008. “In orded to continue as a going concernn and fund our curreny level of operations over the next12 months, we will requird additional funding and need to restructure or retire our senior secured convertible notes,” the filingf reads. “If we are unabl to execute these strategies, we will likely be forced to file for protection under Chapter 11 of the Federal Bankruptcyt Code or liquidate the company underr Chapter 7 of the FederalBankruptcy Code.” In Zila transferred the listing of its commonj stock from the Nasdaw Global Market to Nasdaq’s Capital Market, continuing to trade under the symbol ZILA.
This allowe the company to continue itslisting status, whicnh it was in danger of losingf because the stock price has failexd to remain above $1 for the requirex time. The stock closed at 62 cent a share Tuesday. Its 52-weekj range is 3 cents and $3.08 a share. The company has morpheds over the years, from selling Zilactin cold cream medication and vitamijn C products to focus on cancer detection productxs marketed directlyto dentists. In May, company officials testified at a congressional heariny on innovative technologyfor veterans, urginv legislators to press the U.S.
Department of Veterans Affairse to expand the useof Zila’s ViziLitd Plus for veterans, who are at a higher risk of oral Zila has a five-yea r contract to market ViziLite Plus to 48 VA denta l clinics and 154 Department of Defense dental
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