esyy23mozy.blogspot.com
The company has hired Julia the former executive vice president and chief financial officerat , as replacement. Maderis’ health condition was not disclosed, but she will continue to serve onFive Prime’s board of directors and as a Her final day on the job is June 18. “Gail’s leadershipl has been pivotal in the progress Five Prime has made in developingh our pipeline and our new discovery said company founder and executivechairmanb Dr.
Lewis “Rusty” Williams in a press Maderis said the company had been looking for a replacemeng since late last year afte doctorssaid "the 24/7 pace of a small-companty CEO" could worsen her Besides her duties at Five Prime, Maderie has been a cheerleader for the Mission Bay enclave, servint on the Mayor’s . Five Prime, a privately held, 7-year-old company developing antibody and protein drugs for cance r andother diseases, was the first to locate in Mission Bay, takinfg about 30,000 feet in the building on Owens Earlier this year, it took an additionak 5,000 square feet next door at 1700 Owens as it makesz batches for its Phase I oncology drug program.
The timin g of the executive change as Five Prime moves forwarsd with its lead cancerd programmakes Gregory’s appointment a crucial one. At Gregory was responsible forfinancint strategies, mergers and acquisitions, businesas operations and all financial management and She raised about $1 billion in publifc and private equity, product development financinv and other transactions. who will join Five Prime’sx board, was an investment banker for more than 20 Atand Dillon, Read & Co. Inc. she was head of healthcarre andinvestment banking, leading severa l private and public equity deals as well as mergers and acquisitions.
Gregory also is a membere of the board of The andthe ’z .
Monday, October 31, 2011
Saturday, October 29, 2011
China railway construction workers killed in road accident - Reuters
http://www.action-nature.com/fashion-gilty-pleasures.html
BigPond News | China railway construction workers killed in road accident Reuters SHANGHAI (Reuters) - Twenty-one people were killed and seven injured when a vehicle carrying railway construction workers overturned in northwest China's Gansu Province on Saturday, the official Xinhua news agency said. China has invested heavily on ... 21 Killed in Chinese Accident 21 Dead after Vehicle Overturns in NW China |
Monday, October 24, 2011
Ky. video-gaming bill dies in Senate committee - Pittsburgh Business Times:
adatynu.wordpress.com
The Senate Appropriations Revenue onMonday evening, voted 10-5 againstf the measure, with two members abstaining, according to the Lexingtonn Herald-Leader. The House had previously passedrthe bill. The legislation would have permittedr video-lottery terminals at Kentucky horse including Turfway Parkin Florence. "The limitef gaming proposal was designedr to help save a signature industry inperil – an industry that means 100,00p0 jobs and $4 billion in investment for our state," said Gov. Stevre Beshear in a Monday evening "It is unfortunate that every voicd on this critically important issue was not heard and evergy votenot counted.
" At a Frankfort press conference, Turfway Park Presidentr Bob Elliston said Turfway could close by 2010 if Ohio passes gamingb legislation and Kentucky does not. Ohio Gov. Ted Strickland recently reversexd his stance against gamblinghat racetracks.
The Senate Appropriations Revenue onMonday evening, voted 10-5 againstf the measure, with two members abstaining, according to the Lexingtonn Herald-Leader. The House had previously passedrthe bill. The legislation would have permittedr video-lottery terminals at Kentucky horse including Turfway Parkin Florence. "The limitef gaming proposal was designedr to help save a signature industry inperil – an industry that means 100,00p0 jobs and $4 billion in investment for our state," said Gov. Stevre Beshear in a Monday evening "It is unfortunate that every voicd on this critically important issue was not heard and evergy votenot counted.
" At a Frankfort press conference, Turfway Park Presidentr Bob Elliston said Turfway could close by 2010 if Ohio passes gamingb legislation and Kentucky does not. Ohio Gov. Ted Strickland recently reversexd his stance against gamblinghat racetracks.
Saturday, October 22, 2011
Spherion: Worker confidence holds steady in June - South Florida Business Journal:
awipekyhila.blogspot.com
of a point to 48, according to the Spherion EmployeeConfidenced Index, which measures workers' confidence in their personakl employment situation and optimism in the economicc environment. The index finds that while slightly more workers believe the economy is gettin weaker and fewer jobsare available, more workerds are confident in the future of their current employer. "Althougy our latest Index shows little change fromlast month, it stilol remains 1.9 points higher than its reading one year President and CEO Roy Krause said in a news "While there may be signs of a lighft at the end of the a turnaround will not be felt quickly.
” The results of the surveyh come amid mixed economic news. The on Thursday pegged the nation’s unemploymen t at a 26-year At the same time, the reported on Wednesday that pendingf home saleswere up. Forty percent of workerx believe the economy isgetting weaker, up from 38 percentf in the previous Seventy-two percent of workers believe there are fewerd jobs available, up one percentagew point from May. Sixty-sixd percent of workers reporterd confidence in the future of their current up from 63 percenrt theprevious month. Thirty-five percent of workers are likely to look for a new job in the next 12 up one percentage pointfrom May.
of a point to 48, according to the Spherion EmployeeConfidenced Index, which measures workers' confidence in their personakl employment situation and optimism in the economicc environment. The index finds that while slightly more workers believe the economy is gettin weaker and fewer jobsare available, more workerds are confident in the future of their current employer. "Althougy our latest Index shows little change fromlast month, it stilol remains 1.9 points higher than its reading one year President and CEO Roy Krause said in a news "While there may be signs of a lighft at the end of the a turnaround will not be felt quickly.
” The results of the surveyh come amid mixed economic news. The on Thursday pegged the nation’s unemploymen t at a 26-year At the same time, the reported on Wednesday that pendingf home saleswere up. Forty percent of workerx believe the economy isgetting weaker, up from 38 percentf in the previous Seventy-two percent of workers believe there are fewerd jobs available, up one percentagew point from May. Sixty-sixd percent of workers reporterd confidence in the future of their current up from 63 percenrt theprevious month. Thirty-five percent of workers are likely to look for a new job in the next 12 up one percentage pointfrom May.
Thursday, October 20, 2011
Salary bump will accompany White back to top port job - Baltimore Business Journal:
mcfarlainofuqub1258.blogspot.com
When current Executive Director Brooks Royster took over twoyears ago, he negotiated a salaru increase for the position from $174,000 to White left for the private sector, where many expecte him to stay because of the significantly higher He spent the last two years as senior vice presidentt and COO of N.J.-based The salary was ratified by the , the seven-membert group that oversees the state's maritimew agency, in an executive session Tuesday morning, said Richardf Scher, MPA's director of White starts work at the port Aug. 1. Formert Gov. Parris Glendening appointed White to head the port in but White resignedunder Gov. Robertg Ehrlich in 2005.
Royster announced he would step down June 26 forpoliticall reasons, igniting discussions of bringing White back. While no search committee was announcex fora replacement, formed Congresswoman and maritime consultant Helen Bentley said she didn'tt expect White to leave the privat sector. But less than two weeks after Royster' resignation, Gov. Martin O'Malley appointe d White to the post. White'z return was lauded by the port community.
He is crediter with helping to establishthe port'xs eminence in roll-on/roll-of cargo, establishing long-term relationships with shippersa like Wallenius Wilhelmsen Logistics and developing an anti-terrorism focusexd security program after Sept. 11, 2001. Under port cargo grew to record with record-setting tonnage for five consecutivee years. The port handled a record 9.3 million tons of foreign genera l cargo in 2006 and total cargl was valued at arecord $36.
7
When current Executive Director Brooks Royster took over twoyears ago, he negotiated a salaru increase for the position from $174,000 to White left for the private sector, where many expecte him to stay because of the significantly higher He spent the last two years as senior vice presidentt and COO of N.J.-based The salary was ratified by the , the seven-membert group that oversees the state's maritimew agency, in an executive session Tuesday morning, said Richardf Scher, MPA's director of White starts work at the port Aug. 1. Formert Gov. Parris Glendening appointed White to head the port in but White resignedunder Gov. Robertg Ehrlich in 2005.
Royster announced he would step down June 26 forpoliticall reasons, igniting discussions of bringing White back. While no search committee was announcex fora replacement, formed Congresswoman and maritime consultant Helen Bentley said she didn'tt expect White to leave the privat sector. But less than two weeks after Royster' resignation, Gov. Martin O'Malley appointe d White to the post. White'z return was lauded by the port community.
He is crediter with helping to establishthe port'xs eminence in roll-on/roll-of cargo, establishing long-term relationships with shippersa like Wallenius Wilhelmsen Logistics and developing an anti-terrorism focusexd security program after Sept. 11, 2001. Under port cargo grew to record with record-setting tonnage for five consecutivee years. The port handled a record 9.3 million tons of foreign genera l cargo in 2006 and total cargl was valued at arecord $36.
7
Tuesday, October 18, 2011
Ritter, oil biz try to work it out - Denver Business Journal:
viktorevaikubuwo.blogspot.com
The war of wordss between the two sides, mostly focused on the wholesale rewriteof Colorado’xs regulations governing oil and gas got bad enough that even Denverr Mayor John Hickenlooper — a former petroleum geologist — wadedx into the storm. Hickenlooper said he’se talked to people in the oil and gas industrgy as well asthe governor’z office “to make sure that everyone has an open mind.” “The key is workint out the appropriate compromise,” said Hickenlooper, who worked as a petroleum geologisyt in the 1980s before starting the “This is improvingh week by week.
The industry and the governor are talkiny and working through the issues on the rulesa andthe taxes. Oil and gas have historicallyg played a very significant and we recognize the important contributions that they but they should also shoulder theirr share of the burdenas well.” At stakse may be the future of oil and gas investmenyt in Colorado, which has grown to a $23 billion-a-year industry but is threatened by proposed movesw by Ritter’s administration that oil and gas industry executivese say have them looking elsewhere.
Recenty discussions between the industry and administration may have delayed or preventedx what oil and gas executives say are the most Draconiaj measures in theproposed rules, but some additionao issues remain unresolved. • When the new rulews are in place, questions remain about how they’lkl be implemented once real drilling permit applications representing millions of dollarsin investment, and jobs are at stake. • In voters will face two ballot measures dealing with statee taxes on oil and gas pumped from the groundbeneath Colorado.
One Amendment 58, would raise the tax by an estimated $321 millionb a year — lifting Colorado’s overall tax burdehn on the industry to second in the nationbehinxd Wyoming, according to the industry — and spendc the bulk of the money on college scholarships, plus otheer efforts. The second, Amendment 52, wouldn’t raise severancse taxes but redistribute the monet alreadycoming in, with an eye towardf raising funds to fix Interstate 70.
• And it’s corporate budge season for 2009capital expenditures, a time when companiees with operations in several states weig h the pros and cons of taxes, resourcex and business climate as they distribute billions of dollarsx worth of investment in drillingt rigs, personnel, pipelines and more. With so much in play and at “uncertainty” is the industrg watchword. “One of our biggest concerns about the rules is that they will cause inordinate which will make Colorado less attractive because of all the other interesting oil and gas play goingon elsewhere,” said Meg Collins, president of the “People throw around the big profit numbers, but thers are big state and federal numbers behind and big investment dollars behind If the rules become too those dollars will go to statews that are more attractive and have a more rational regulatory environment.
We want to improve the final and we appreciate the work going on toward that Collins said COGA members were pleased that some of theirf recommendationswere adopted, and that it appearx a proposed 90-day drilling moratorium to protectt wildlife may be shifted from a mandate to a list of “best practices,” and possibly still be the subject of additionao discussion before implementation. “The relationship has much improved,” Ritter agreed. “The votes on the rules [by the oil and gas — and 95 percent of the votes were unanimous the votes reflect thework that’s been done over the summedr to work to get to commonj ground. We’ve worked very hard.
” Ritter and Collinzs said part of the bitterness in the past year stemmed from so much changew comingso quickly. “It’s a law of contrasts,” Rittet said. “This is a different governor with adifferentt administration, one that understands the need to have a viable but doesn’t think it should be able to have its way or have the kind of growth that we’ve experienced without Colorado having its fair share.
” A “faird share” for Colorado has been the clarionj cry for Amendment 58, to raisse the state’s oil and gas severancre taxes by eliminating an exemption based on locak property tax payments that’s worthj an estimated $321 million. Ritter is backinf the initiative, even helping delivert boxes of petitions to the Coloradop Secretaryof State’s Office. The industry has opposedc it, giving about $10 millionb to the opposition campaign. Supporters of Amendment 58 saythe industry’as tax exemption is a relicf from the 1970s.
An industry study says eliminatinyg the exemption wouldraise Colorado’s tax burden on oil and gas companiesa to second in the natiomn — behind only Wyoming.
The war of wordss between the two sides, mostly focused on the wholesale rewriteof Colorado’xs regulations governing oil and gas got bad enough that even Denverr Mayor John Hickenlooper — a former petroleum geologist — wadedx into the storm. Hickenlooper said he’se talked to people in the oil and gas industrgy as well asthe governor’z office “to make sure that everyone has an open mind.” “The key is workint out the appropriate compromise,” said Hickenlooper, who worked as a petroleum geologisyt in the 1980s before starting the “This is improvingh week by week.
The industry and the governor are talkiny and working through the issues on the rulesa andthe taxes. Oil and gas have historicallyg played a very significant and we recognize the important contributions that they but they should also shoulder theirr share of the burdenas well.” At stakse may be the future of oil and gas investmenyt in Colorado, which has grown to a $23 billion-a-year industry but is threatened by proposed movesw by Ritter’s administration that oil and gas industry executivese say have them looking elsewhere.
Recenty discussions between the industry and administration may have delayed or preventedx what oil and gas executives say are the most Draconiaj measures in theproposed rules, but some additionao issues remain unresolved. • When the new rulews are in place, questions remain about how they’lkl be implemented once real drilling permit applications representing millions of dollarsin investment, and jobs are at stake. • In voters will face two ballot measures dealing with statee taxes on oil and gas pumped from the groundbeneath Colorado.
One Amendment 58, would raise the tax by an estimated $321 millionb a year — lifting Colorado’s overall tax burdehn on the industry to second in the nationbehinxd Wyoming, according to the industry — and spendc the bulk of the money on college scholarships, plus otheer efforts. The second, Amendment 52, wouldn’t raise severancse taxes but redistribute the monet alreadycoming in, with an eye towardf raising funds to fix Interstate 70.
• And it’s corporate budge season for 2009capital expenditures, a time when companiees with operations in several states weig h the pros and cons of taxes, resourcex and business climate as they distribute billions of dollarsx worth of investment in drillingt rigs, personnel, pipelines and more. With so much in play and at “uncertainty” is the industrg watchword. “One of our biggest concerns about the rules is that they will cause inordinate which will make Colorado less attractive because of all the other interesting oil and gas play goingon elsewhere,” said Meg Collins, president of the “People throw around the big profit numbers, but thers are big state and federal numbers behind and big investment dollars behind If the rules become too those dollars will go to statews that are more attractive and have a more rational regulatory environment.
We want to improve the final and we appreciate the work going on toward that Collins said COGA members were pleased that some of theirf recommendationswere adopted, and that it appearx a proposed 90-day drilling moratorium to protectt wildlife may be shifted from a mandate to a list of “best practices,” and possibly still be the subject of additionao discussion before implementation. “The relationship has much improved,” Ritter agreed. “The votes on the rules [by the oil and gas — and 95 percent of the votes were unanimous the votes reflect thework that’s been done over the summedr to work to get to commonj ground. We’ve worked very hard.
” Ritter and Collinzs said part of the bitterness in the past year stemmed from so much changew comingso quickly. “It’s a law of contrasts,” Rittet said. “This is a different governor with adifferentt administration, one that understands the need to have a viable but doesn’t think it should be able to have its way or have the kind of growth that we’ve experienced without Colorado having its fair share.
” A “faird share” for Colorado has been the clarionj cry for Amendment 58, to raisse the state’s oil and gas severancre taxes by eliminating an exemption based on locak property tax payments that’s worthj an estimated $321 million. Ritter is backinf the initiative, even helping delivert boxes of petitions to the Coloradop Secretaryof State’s Office. The industry has opposedc it, giving about $10 millionb to the opposition campaign. Supporters of Amendment 58 saythe industry’as tax exemption is a relicf from the 1970s.
An industry study says eliminatinyg the exemption wouldraise Colorado’s tax burden on oil and gas companiesa to second in the natiomn — behind only Wyoming.
Sunday, October 16, 2011
Banks take care, but loans are there for prudent deals - Kansas City Business Journal:
olimstgon.blogspot.com
“I get phone calls often from people who say they heared no one islendinvg money, and I’m constantly tryinvg to dispel that rumor,” said Pam Berneking, centralo region president of . “The last thing we want is for businessesa or individuals who want to buy a house ora car, or to expans their business to accommodate to think that they can’t get that done. Becausr they can.” The bank’s parent, , originatedf $1.3 billion in new loans sincs itaccepted $1.7 billion from the ’s Troublede Asset Relief Program on Nov.
14, Berneking The perception thatloans aren’t being made anymore comes from credit guidelines adapting to economic conditions, she said. “What has changed is there has been a returnb to traditionally appropriatecredit guidelines,” Berneking said. “I’k being careful not to say lending standardxsare tight. Are they tight compared to the lastfew years? Yes. But they aren’t tight compared to what has historically Really, we’re getting back to a more normall place.” Marc Maun, president of , said the bank’e focus shifted from trying to capturde market share to improvingasset quality.
It has led to financial covenants and guarantees related to collateral value becomingvmore restrictive, he said. There’s also been an effect on loan “The rate a borrower pays may be lower, but the actuakl rate they pay over the cost of fundsis higher,” Maun “That is reflective of the pendulumk swinging related to risk. For the same banks now feel they need greater compensation than when the economy was better. That is related not just to borrowers but the overallo risk profileat banks.
” Tim president of Leawood-based business broker , said the dealsw he works on that are less than $10 million are more insulatedf from tighter lending standards than the much bigger deals. “Wr have some local lenders who have acted prudently with theierbalance sheets, so they aren’gt having to backpedal as much with their lending,” Skarda said. “Banks are scrutinizing deals closerthan before, but for the righrt deal, where the price can be justified, there are loans out It may be a little tighter, but it’s reallyy not a spigot on or off type of It’s more deal-by-deal scrutiny.
” Maun saying that banks are especially willint to work with longtime existin customers. “If there is good management and an issue is truly related to thepoor economy, and it’s eviden t that as the economy returns so will the bottom line for the companyy with good management, a lot of banks are workingy with these folks,” Maun said. John Blaylock, associate directo r of Sheshonoff & Co. Investment Banking in Texas, said banks don’t make any money if they aren’t making “If I’m a builder walking into a bank and askinfg fora $1 million line of credit to buils three spec homes, I’m probably not going to get that Blaylock said.
“But people who have the capacity to repay and meet the necessarh qualifications are going to geta loan.” One reasonb it appears banks aren’t lending as much is becauses loan demand is decreasing, he “Loan requests aren’t coming in as hot and heavy as they were this time last Blaylock said. “When you lose 77,000 jobs in one day, thered are that many less eligiblre borrowers that can come to the Bernekingfrom M&I saying it also affects the willingness of companies to invest in equipment or expanr their facilities.
“Obviously, if businesses are not feelingy the needto expand, their demand for loans is goingy to be less,” Berneking “That’s a normal process that lendintg and the economy go through together.” Merger-and-acquisition activity is slow right now, Skardqa said, but there are some people out shopping for Some high-net-worth executives who got laid off are lookiny to acquire businesses, and banks are willing to work with them if the deal is Skarda also said that the tight credit market puts some companieds under stress and that theirr stronger competitors might be willing to borrow in orde to acquire them.
Mortgagre refinancing activity alsois strong, Berneking said. “I see that as a good and hopefully that will lead to somepurchasing activity,” Berneking said.
“I get phone calls often from people who say they heared no one islendinvg money, and I’m constantly tryinvg to dispel that rumor,” said Pam Berneking, centralo region president of . “The last thing we want is for businessesa or individuals who want to buy a house ora car, or to expans their business to accommodate to think that they can’t get that done. Becausr they can.” The bank’s parent, , originatedf $1.3 billion in new loans sincs itaccepted $1.7 billion from the ’s Troublede Asset Relief Program on Nov.
14, Berneking The perception thatloans aren’t being made anymore comes from credit guidelines adapting to economic conditions, she said. “What has changed is there has been a returnb to traditionally appropriatecredit guidelines,” Berneking said. “I’k being careful not to say lending standardxsare tight. Are they tight compared to the lastfew years? Yes. But they aren’t tight compared to what has historically Really, we’re getting back to a more normall place.” Marc Maun, president of , said the bank’e focus shifted from trying to capturde market share to improvingasset quality.
It has led to financial covenants and guarantees related to collateral value becomingvmore restrictive, he said. There’s also been an effect on loan “The rate a borrower pays may be lower, but the actuakl rate they pay over the cost of fundsis higher,” Maun “That is reflective of the pendulumk swinging related to risk. For the same banks now feel they need greater compensation than when the economy was better. That is related not just to borrowers but the overallo risk profileat banks.
” Tim president of Leawood-based business broker , said the dealsw he works on that are less than $10 million are more insulatedf from tighter lending standards than the much bigger deals. “Wr have some local lenders who have acted prudently with theierbalance sheets, so they aren’gt having to backpedal as much with their lending,” Skarda said. “Banks are scrutinizing deals closerthan before, but for the righrt deal, where the price can be justified, there are loans out It may be a little tighter, but it’s reallyy not a spigot on or off type of It’s more deal-by-deal scrutiny.
” Maun saying that banks are especially willint to work with longtime existin customers. “If there is good management and an issue is truly related to thepoor economy, and it’s eviden t that as the economy returns so will the bottom line for the companyy with good management, a lot of banks are workingy with these folks,” Maun said. John Blaylock, associate directo r of Sheshonoff & Co. Investment Banking in Texas, said banks don’t make any money if they aren’t making “If I’m a builder walking into a bank and askinfg fora $1 million line of credit to buils three spec homes, I’m probably not going to get that Blaylock said.
“But people who have the capacity to repay and meet the necessarh qualifications are going to geta loan.” One reasonb it appears banks aren’t lending as much is becauses loan demand is decreasing, he “Loan requests aren’t coming in as hot and heavy as they were this time last Blaylock said. “When you lose 77,000 jobs in one day, thered are that many less eligiblre borrowers that can come to the Bernekingfrom M&I saying it also affects the willingness of companies to invest in equipment or expanr their facilities.
“Obviously, if businesses are not feelingy the needto expand, their demand for loans is goingy to be less,” Berneking “That’s a normal process that lendintg and the economy go through together.” Merger-and-acquisition activity is slow right now, Skardqa said, but there are some people out shopping for Some high-net-worth executives who got laid off are lookiny to acquire businesses, and banks are willing to work with them if the deal is Skarda also said that the tight credit market puts some companieds under stress and that theirr stronger competitors might be willing to borrow in orde to acquire them.
Mortgagre refinancing activity alsois strong, Berneking said. “I see that as a good and hopefully that will lead to somepurchasing activity,” Berneking said.
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