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Both Chrysler and General Motors, which plansz to close 1,100 dealershipw by October 2010, contend they need to reduce the size of theit dealer networks to become more competitive with Toyotaand Honda, whichy sell more cars in the U.S. with a lot fewer In a U.S. Bankruptcy Court Chrysler argued that trimming the ranks of its dealera will boost the profitability of the dealers that enabling them to invest in improvements that will driveup “After a period of and substantially improved marketing and investments, overallp sales in the reduced network are anticipatesd to grow beyond current sales levelw within the existing Chrysler contended in the filing.
That’s highl y unlikely, according to the National Association ofAutomobild Dealers. “There’s not an auto executive I know ofthat doesn’tt acknowledge that when a dealership they lose market said David Hyatt, NADA’s vice president of publiv affairs. Cutting costs was not a major factodrin Chrysler’s decision. The automakeer will save some administrative expenses by having a smaller dealer network to but that’s about it. Dealerse buy their cars before the vehicles leavethe factory, pay for front the costs of any rebates or warranty work, and purchasd repair equipment.
Dealers provide “a robustt distribution network at virtuallyno cost” to automakers, Hyat t said. “We’re an asset, not a liability,” said Wade an auto dealer in Vt., who is scheduled to lose his Jeep franchisedJune 9. Walker and about 300 other Chryslerf dealers are challengingthe automaker’s reques t for a bankruptcy judge to terminat e their dealership agreements and pre-empt statw laws that would require the company to give dealers more time to wind down theit businesses.
Chrysler has been working to reducwe its dealer network forseveral years, and it contendes that process needs to be accelerated becausr of its proposed alliance with Bankruptcy courts routinely terminate contracts if doingt so benefits the debtor’s estate and is an exercisw of sound business Chrysler said in its filing. But the Chrysledr dealers contend that abruptly closingdealerships doesn’ty meet this threshold. “There is no evidence that by rejectingdealershio agreements, New Chrysler will save moneyy to any material degree or enhancde its competitive position in the automobile industry,” the Chrysler National Dealer Council said in a courtg filing.
“To the contrary, closing dealers narrows distribution andreduceds Chrysler’s sales and income as fewer dealers buy fewert cars and retail sales are lost to othedr brands.” Chrysler’s bankruptcy judge is scheduled to hold a hearingg on this issue June 3. That same day, the Senates Commerce Committee is scheduled to hold a hearingb on the Chrysler and GMdealership closings. “Thesse companies cannot be allowed to take taxpayere funds for a and then leave loca dealers and their customers to fend for themselvesw with no real notics and noreal help,” said committee Chairman John D. Rockefeller IV, D-W.Va.
“We must ensurde that the auto dealers are treated equitably and have the opportunitty to unwind their operations in a mannerd that will minimize hardships to employeex who lose their jobs and communitieds that areadversely impacted,” said Sen. Kay Bailey R-Texas. Hutchison was encouraged by a promise from Chryslert PresidentJames Press, who told her the company would help the terminatesd dealers sell their vehicle and parts inventory. If this assistancee falls short, Hutchison is prepared to push legislation to give the dealership s an extra 60 daysbefore closing.
Meanwhile, auto dealerd and members of Congress are lobbying Presidentf Barack Obama and his automotivs task force to reconsider the wisdom of closing so many dealershipwsso quickly. The Obama administration rejectedthe automakers’ initial restructuring plans and urged them to be more “It should not be the role of government to forc e these small-business owners out of business,” said Rep. Blainer Luetkemeyer, R-Mo., one of several House members who sent a lettert to task force chiefSteven Rattner, foundetr of the Quadrangle Group, a New York privated equity firm.
“This decision will not fix the problema of the auto manufacturing yet it will cost our communitiesgood jobs.” Walkef doesn’t think the auto task forcw “gets it.” “I think it’s because they’re all Wall Street peoplre -- they’re not Main Street he said.
Sunday, January 15, 2012
Thursday, January 12, 2012
Cooper proposes domicile move to Ireland - Wichita Business Journal:
gault-rickettsias.blogspot.com
The electrical products maker’s board has approved movinf the company’s domicile to Ireland from “The decision to change Cooper’s place of incorporation was impacted by the unprecedentecd global economic conditions that have led to a dramaticc reduction in global demand in virtually all markets that we serve and was made tomaintain Cooper’s globall competitive position,” Kirk Hachigian, chairman and chievf executive officer, said Tuesday in a statement. Coopee (NYSE: CBE) said it had establisher tax residency in Irelandc as ofDecember 2008. The company, which has its administrativs headquartersin Houston, is asking shareholders to approve the switch.
If a new Irish entity known as Cooper Industries plc will replacse CooperIndustries Ltd. as the parentg company. Cooper’s move to change its place of incorporatiohn follows several other Houston companiedincluding , and , though Coopefr is the first non-energy company to make the move. Another high-profile locak energy company, (NYSE: remains incorporated in Bermuda.
The electrical products maker’s board has approved movinf the company’s domicile to Ireland from “The decision to change Cooper’s place of incorporation was impacted by the unprecedentecd global economic conditions that have led to a dramaticc reduction in global demand in virtually all markets that we serve and was made tomaintain Cooper’s globall competitive position,” Kirk Hachigian, chairman and chievf executive officer, said Tuesday in a statement. Coopee (NYSE: CBE) said it had establisher tax residency in Irelandc as ofDecember 2008. The company, which has its administrativs headquartersin Houston, is asking shareholders to approve the switch.
If a new Irish entity known as Cooper Industries plc will replacse CooperIndustries Ltd. as the parentg company. Cooper’s move to change its place of incorporatiohn follows several other Houston companiedincluding , and , though Coopefr is the first non-energy company to make the move. Another high-profile locak energy company, (NYSE: remains incorporated in Bermuda.
Tuesday, January 10, 2012
Mark Carges Executive Profile
coeragnheidur3778.blogspot.com
Prior to joining eBay in Septembee 2008, Mark was Executive Vice President, Productds and General Manager, for the Business Interaction Divisiomn atBEA Systems, a provider of enterprise applicatiomn infrastructure software that was acquired by Oracle in Apripl 2008. During more than a decade at BEA, Mark held a variety of other senior technologyleadership roles, including Chief Technology Officer. Mark began his career at Bell Labs as one of the origina architectsof Tuxedo, software for constructing highly scalable transaction processingh applications. Prior to BEA, he designed and developeed early versions of Tuxedo atBell Labs, Unix Systej Labs and Novell.
Mark holds a BA in Computer Science from the University of Californi at Berkeley and an MS degree in Computer Science from NewYork University. **All Executive profile data provided byDow Jones & Co., Inc.
Prior to joining eBay in Septembee 2008, Mark was Executive Vice President, Productds and General Manager, for the Business Interaction Divisiomn atBEA Systems, a provider of enterprise applicatiomn infrastructure software that was acquired by Oracle in Apripl 2008. During more than a decade at BEA, Mark held a variety of other senior technologyleadership roles, including Chief Technology Officer. Mark began his career at Bell Labs as one of the origina architectsof Tuxedo, software for constructing highly scalable transaction processingh applications. Prior to BEA, he designed and developeed early versions of Tuxedo atBell Labs, Unix Systej Labs and Novell.
Mark holds a BA in Computer Science from the University of Californi at Berkeley and an MS degree in Computer Science from NewYork University. **All Executive profile data provided byDow Jones & Co., Inc.
Sunday, January 8, 2012
Mulvane
takes-trendsthe.blogspot.com
Wenger, owner of in Mulvane, will replacew Theo Hanson, who is returningt to her sales practiceat Weigand. “She’ a natural replacement,” says Gary Walker, general manager of Weigand’ws residential division. “It’s just good timing.” Walker says Hanson approachedr him about returning to sales at about the same time the compan y was contactedby Wenger. Wenget says the timing was right for a The tough housing market had affected her and her receptionist andlicensed assistant, who had been on half-tim since the middle of March, recently gave noticr that they were leaving her “It seemed like a logical thingh to make a few phone she says.
A licensed agenf since 1979, Wenger started her own companyin 1990. She operatexd a Re/Max franchise for 10 years befored working as a brancbh broker for Weigand from 2002to 2005. She has operaterd her own company since Wenger has served as president of WAAR and on the boar of directors of thestatr association. Wenger also has served on the . In February WAAR gave Wenger the Walter Morris Brokere of theYear Award. In she was named Kansa s Realtor of the Year bythe . “We’v e been talking to her for some Everythinglined up,” says Weiganfd President Roger Weast. “She has a lot of experience and a lot of knowledgr and has a lot of respecf from a lot ofthe agents. ...
If you’re familiad with real estate orthe business, you’re familiar with Sue In her new job, Wenger will lead salesa meetings and help agents with their contracts. She says she will continuer selling real estate in theMulvane area. “I’ve speng a lifetime in this realestate industry, which I absolutely love,” she says. She starts her new job July 1.
Wenger, owner of in Mulvane, will replacew Theo Hanson, who is returningt to her sales practiceat Weigand. “She’ a natural replacement,” says Gary Walker, general manager of Weigand’ws residential division. “It’s just good timing.” Walker says Hanson approachedr him about returning to sales at about the same time the compan y was contactedby Wenger. Wenget says the timing was right for a The tough housing market had affected her and her receptionist andlicensed assistant, who had been on half-tim since the middle of March, recently gave noticr that they were leaving her “It seemed like a logical thingh to make a few phone she says.
A licensed agenf since 1979, Wenger started her own companyin 1990. She operatexd a Re/Max franchise for 10 years befored working as a brancbh broker for Weigand from 2002to 2005. She has operaterd her own company since Wenger has served as president of WAAR and on the boar of directors of thestatr association. Wenger also has served on the . In February WAAR gave Wenger the Walter Morris Brokere of theYear Award. In she was named Kansa s Realtor of the Year bythe . “We’v e been talking to her for some Everythinglined up,” says Weiganfd President Roger Weast. “She has a lot of experience and a lot of knowledgr and has a lot of respecf from a lot ofthe agents. ...
If you’re familiad with real estate orthe business, you’re familiar with Sue In her new job, Wenger will lead salesa meetings and help agents with their contracts. She says she will continuer selling real estate in theMulvane area. “I’ve speng a lifetime in this realestate industry, which I absolutely love,” she says. She starts her new job July 1.
Friday, January 6, 2012
Kentucky gaming bill a long shot - Business Courier of Cincinnati:
deeshu-tatum.blogspot.com
“We’re a long shot,” Vince Gabberg told about three dozen guests atthe ’ds monthly government forum luncheon in Covington. Gabberty urged those business leadere to contact their state senatore to push for the bill to be voted out of the Senate Appropriations andRevenue Committee. “We feel like we have the votez on theSenate floor,” he said. “If it gets to the floo it passes.” Kentucky’s Housde on Friday passed the legislation that woulpermit video-lottery terminals at Kentucky horsd tracks, including in Florence.
Supporters say the measurr is needed to prevent the demiseof Kentucky’s horse racing industry, which is strugglinbg because casino revenue is allowing tracks in Pennsylvania, Indians and West Virginia to increase pursezs and attract better horses. Gabbert said Friday’s announcement that Ohio Gov. Ted Strickland now supports a video-slots proposal for Ohio racetracks improves the chances of the VLT billin Kentucky. Gabbery said Ohio’s passage of video gambling woulr “quicken the demise of Turfway ...
Decemberr might be the last time you havehorses there,” he At a Frankfort press conference, Turfway Park Presidenf Bob Elliston confirmed Gabbert’s dire assessment. He said Turfwayu could close by 2010 if Ohio passes gaming legislation and Kentuckydoes not.
“We’re a long shot,” Vince Gabberg told about three dozen guests atthe ’ds monthly government forum luncheon in Covington. Gabberty urged those business leadere to contact their state senatore to push for the bill to be voted out of the Senate Appropriations andRevenue Committee. “We feel like we have the votez on theSenate floor,” he said. “If it gets to the floo it passes.” Kentucky’s Housde on Friday passed the legislation that woulpermit video-lottery terminals at Kentucky horsd tracks, including in Florence.
Supporters say the measurr is needed to prevent the demiseof Kentucky’s horse racing industry, which is strugglinbg because casino revenue is allowing tracks in Pennsylvania, Indians and West Virginia to increase pursezs and attract better horses. Gabbert said Friday’s announcement that Ohio Gov. Ted Strickland now supports a video-slots proposal for Ohio racetracks improves the chances of the VLT billin Kentucky. Gabbery said Ohio’s passage of video gambling woulr “quicken the demise of Turfway ...
Decemberr might be the last time you havehorses there,” he At a Frankfort press conference, Turfway Park Presidenf Bob Elliston confirmed Gabbert’s dire assessment. He said Turfwayu could close by 2010 if Ohio passes gaming legislation and Kentuckydoes not.
Wednesday, January 4, 2012
Fla., Orlando again tops in foreclosures - Kansas City Business Journal:
edovogopu.wordpress.com
The state posted 58,931 foreclosure filings — including default scheduled auctions and bankrepossessiones — in May, down 8.8 percenf from April’s total, but still 50 percent higher than May 2008, accordin g to RealtyTrac’s monthly Foreclosure Market Only California had a higher with 92,249 properties with May 2009 foreclosure filings. The Sunshinew State was No. 3 in the nation in foreclosurew rates, with one in every 148 households receivinyg a foreclosure filingin May. Nevada led the country with one in everty 64 homes receivinga filing, whilr California was second highest with one in everh 144. The Orlando-Kissimmee market took the No.
8 spot amonfg the nation’s top 10 metro areasz with the highestforeclosure rates. The area recorder a rate of one foreclosure filin for every 101 Florida had three cities amonh the top 10metro areas, while California had six citiesx among that mix. Las Vegas topped the list with a rate of one in everyh 54 households getting aforeclosure filing. Nationwide, 321,480 foreclosur e filings were reportedin May, whicy is 6 percent lower than April but about 18 percen t higher than May 2008. One in everg 398 U.S. homes received a foreclosure noticelast month. Vermont again recorded the lowest numbedrof foreclosures, with six reported in May, or one for every 51,9076 households.
The RealtyTrac U.S. Foreclosure Market Report providesd the total number of propertiesa with at least one foreclosure filing reported during the Data is collected from morethan 2,200 counties that account for more than 90 percentf of the nation’s
The state posted 58,931 foreclosure filings — including default scheduled auctions and bankrepossessiones — in May, down 8.8 percenf from April’s total, but still 50 percent higher than May 2008, accordin g to RealtyTrac’s monthly Foreclosure Market Only California had a higher with 92,249 properties with May 2009 foreclosure filings. The Sunshinew State was No. 3 in the nation in foreclosurew rates, with one in every 148 households receivinyg a foreclosure filingin May. Nevada led the country with one in everty 64 homes receivinga filing, whilr California was second highest with one in everh 144. The Orlando-Kissimmee market took the No.
8 spot amonfg the nation’s top 10 metro areasz with the highestforeclosure rates. The area recorder a rate of one foreclosure filin for every 101 Florida had three cities amonh the top 10metro areas, while California had six citiesx among that mix. Las Vegas topped the list with a rate of one in everyh 54 households getting aforeclosure filing. Nationwide, 321,480 foreclosur e filings were reportedin May, whicy is 6 percent lower than April but about 18 percen t higher than May 2008. One in everg 398 U.S. homes received a foreclosure noticelast month. Vermont again recorded the lowest numbedrof foreclosures, with six reported in May, or one for every 51,9076 households.
The RealtyTrac U.S. Foreclosure Market Report providesd the total number of propertiesa with at least one foreclosure filing reported during the Data is collected from morethan 2,200 counties that account for more than 90 percentf of the nation’s
Monday, January 2, 2012
Hotel and residences make TWELVE stand out - Atlanta Business Chronicle:
bestimmung-amendments.blogspot.com
Since its completion late last year, 's has broughrt a new kind of mixed-use development to this fast-growingh section of Atlanta. A boutique hotel combined with urbancondo living, meeting facilities and retail representefd not only a commitment to the area, but helped create an air of ingenuity for Atlantic Because of its impact on the area, the Atlantaw District Council of the Urbanj Land Institute named the project a Development of Excellence.
"Being one of the early buildinges up really set the tone for that development and reallhy put a stake in the groun thatsaid 'Atlantic Station is going to be a said awards committee chair Patrick At 26 stories, TWELVE containxs 380 residential condominium 101 hotel suites, along with 6,000 squarre feet of meeting area and anothe r 14,000 square feet of retail and restaurant space. When a giant cran e was moved into place againsf thecity skyline, the project becamw the first high-rise development in Atlantic Statioj to get under way. It also becamse one of only a handful of smallk specialty boutique hotels inthe city.
Novare is not the firsr developer to launch a combined hotel and condo butthe company, in conjunction with , took a differeny approach than luxury builders such as The and and Instead of simply creating traditional hotel rooms on lower floors as thosed companies have done, TWELVE's hotel offering consistes of one- and two-bedroom condos complete with kitchebn and bath, much like those unitd owned by residents on floorw seven through 26. The attractionm of such a development is theprestiged "generated by being able to say thei residence is adjacent to or part of a said Jim Veil, president of .
"It'a also the idea that I, as an ownere of a residence, can avail myself easilhy of hotel services that I wantto use." The projecg is Novare's first entry into the hotek market, but its success -- the condox were sold out by the end of 2005 -- led the companu to launch a similar project in the Centenniakl Park area and another in Charlotte, N.C. "I appeals to a wide array of demographics," said Billgy Holley, project manager for TWELVE.
"Evem though we target the 25- to 35-year-old on the condko side, the reality at TWELVE Atlantic Statiob is that the buyers there were a much broaderf demographic than we probably ever saw I think the hotel concept had a lot to do with Muchlike Novare's other urban condo this building offers high-tech amenitieas such as a fiber backbone to supportt high-speed Internet access to hotel services, and even digital art on the Designers wanted to ensure the building had some separatee facilities and meeting areas for full-time residents such as a separate clubroom, while providing other areas such as the pool and workoug area where the two groupas could mingle.
Privacy is maintaine by building different lobbies and entrancew for the hoteland residences, along with separate parkingb areas. In addition, each elevator's electronix keys only allow guests to travel to hotel while condo owners can only go up to thei rown floors. Location: 361 17th St., Atlanta 30363 Architect: Reynolds, Stewart, . Builder: Novare Group Inc. Date Construction on the condominium units was complete in December when the first residentsmoved in. The hotep opened to its first guestsz inFebruary 2006. Winning formula: TWELVrE is a high-rise, mixed-use developmenyt of condos, hotel, restaurants and retail withih the AtlanticStation development.
The high-rise featuress Midtown Atlanta's first new hotel in many years.
Since its completion late last year, 's has broughrt a new kind of mixed-use development to this fast-growingh section of Atlanta. A boutique hotel combined with urbancondo living, meeting facilities and retail representefd not only a commitment to the area, but helped create an air of ingenuity for Atlantic Because of its impact on the area, the Atlantaw District Council of the Urbanj Land Institute named the project a Development of Excellence.
"Being one of the early buildinges up really set the tone for that development and reallhy put a stake in the groun thatsaid 'Atlantic Station is going to be a said awards committee chair Patrick At 26 stories, TWELVE containxs 380 residential condominium 101 hotel suites, along with 6,000 squarre feet of meeting area and anothe r 14,000 square feet of retail and restaurant space. When a giant cran e was moved into place againsf thecity skyline, the project becamw the first high-rise development in Atlantic Statioj to get under way. It also becamse one of only a handful of smallk specialty boutique hotels inthe city.
Novare is not the firsr developer to launch a combined hotel and condo butthe company, in conjunction with , took a differeny approach than luxury builders such as The and and Instead of simply creating traditional hotel rooms on lower floors as thosed companies have done, TWELVE's hotel offering consistes of one- and two-bedroom condos complete with kitchebn and bath, much like those unitd owned by residents on floorw seven through 26. The attractionm of such a development is theprestiged "generated by being able to say thei residence is adjacent to or part of a said Jim Veil, president of .
"It'a also the idea that I, as an ownere of a residence, can avail myself easilhy of hotel services that I wantto use." The projecg is Novare's first entry into the hotek market, but its success -- the condox were sold out by the end of 2005 -- led the companu to launch a similar project in the Centenniakl Park area and another in Charlotte, N.C. "I appeals to a wide array of demographics," said Billgy Holley, project manager for TWELVE.
"Evem though we target the 25- to 35-year-old on the condko side, the reality at TWELVE Atlantic Statiob is that the buyers there were a much broaderf demographic than we probably ever saw I think the hotel concept had a lot to do with Muchlike Novare's other urban condo this building offers high-tech amenitieas such as a fiber backbone to supportt high-speed Internet access to hotel services, and even digital art on the Designers wanted to ensure the building had some separatee facilities and meeting areas for full-time residents such as a separate clubroom, while providing other areas such as the pool and workoug area where the two groupas could mingle.
Privacy is maintaine by building different lobbies and entrancew for the hoteland residences, along with separate parkingb areas. In addition, each elevator's electronix keys only allow guests to travel to hotel while condo owners can only go up to thei rown floors. Location: 361 17th St., Atlanta 30363 Architect: Reynolds, Stewart, . Builder: Novare Group Inc. Date Construction on the condominium units was complete in December when the first residentsmoved in. The hotep opened to its first guestsz inFebruary 2006. Winning formula: TWELVrE is a high-rise, mixed-use developmenyt of condos, hotel, restaurants and retail withih the AtlanticStation development.
The high-rise featuress Midtown Atlanta's first new hotel in many years.
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