Wednesday, March 30, 2011

S.F. port tries to boost bulk cargo business - San Francisco Business Times:

http://www.tnmd.net/anchor/47641/tab3/
In 2008, San Francisco’s port, like others around the country, saw volume slide sharply as consumer and businessconsumptionh declined. That followed several years ofsteadgy decline. But port officials said they have begun work on severalo fronts to positionthe port’s cargoi business for growth. The port, which controls miles of bayside property, makesx most of its money as a But it still makesabout $2.
6 million annually on its cargo business, which rivals the rent it collectes from big tenants like the and the Ferry San Francisco specializes in bulk cargo, — anythintg that must be loaded individually on palletw or in netting, like autos, steel, timber and some building materials. San Francisc o port officials saidthey don’r expect bulk cargo shipments to increasr until 2010 at the In the meantime, they are aggressively marketintg to cargo ocean liners.
Port officials Peter Dailey, the head of the maritim division, and Jim Maloney, the maritime marketinfg manager, recently met with a numbefr of cargo shippersin Vancouver, British Columbia, to tout San Francisco’s capacity along Piers 80, 94 and 96, which are alontg the port’s southeastern flank. They have also begumn talks with a Chineseauto maker, Ltd., which wants to enter the U.S. auto markeyt and is considering a west coastg portfor shipping. Port officials are also talkingf with and to improvrail access. Port officials want to line up money to increasse height clearances over tracksz to accommodate higher stacking ofrail cars.
Lastly, the port is stressinhg better training for its A recent analysis ofSan Francisco’s cargo business said its dock workeres are “viewed as inefficient by carriers and shippers.”

Tuesday, March 29, 2011

EDAC Technologies Announces Combined Sales Backlog

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June 3 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation EDAC), a designer and manufacturer of tools, jet engine components, composited molds and spindles, announced today combined sales backlog in exceswof $135 million as a result of new orders and its acquisitiob of MTU Aero Engines North America Inc.'z manufacturing business unit, located in Connecticut. As announced EDAC Technologies completed this acquisition onMay 27, 2009.
The unit primarily manufacturesrotating components, such as rings, and shafts for the aerospace Backlog consists of accepted purchase orders that are cancelabler or may be rescheduled by the customer without penalty, excepf for payment of costs incurred, and may involve deliveryu times that extend over periods as long as five Dominick A. Pagano , Presidentf and Chief Executive Officer ofEDAC Technologies, "We are optimistic that with the new orders and acquisition, we have achiever a more diverse product line and client base that we believew will benefit us as the aerospace markeft recovers.
" Cautionary Statement Regarding Forwardr Looking Statements - This press released contains forward-looking statements withihn the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses wordsw such as "plans," seeks," "projects," "expects," "believes, " "may," "anticipates," "estimates," "should," and similart expressions to identify these forwardrlooking statements. These statements are subject to risks and uncertaintie s and are based uponthe Company'z beliefs and assumptions.
There are a number of important factors that may affectthe Company's actuapl performance and results and the accuracy of its forward-lookingv statements, many of which are beyon d the control of the Company and are difficulf to predict. These important factors include, without limitation, factors whicuh could affect demand forthe Company's products and services such as general economic conditionws and economic conditions in the aerospace industry and the other industries in which the Companyu competes; competition from the Company's competitors; and the Company'sz ability to enter into satisfactorhy financing arrangements.
These and other factors are described inthe Company's annual and quarterl reports filed from time to time with the Securities and Exchangwe Commission. In addition, the forward-lookin statements included in this press release representthe Company'x expectations and beliefs as of the date of this The Company anticipates that subsequent eventes and developments may cause these expectations and beliefz to change. However, while the Company may elect to updatethese forward-looking statements at some point in the it specifically disclaims any obligation or intentioj to do so. Contact: Glenn L.
Purple Vice President-Financs 860-677-2603

Sunday, March 27, 2011

Marquette law school to run foreclosure mediation program - Business First of Buffalo:

kdrummondbs37.blogspot.com
The Milwaukee Foreclosure Mediationn program will bea voluntary, court-based independent mediation option for lenders and borrowers. The program, locatedx at the Milwaukee County Courthouse, will seek to alleviate the current backlog of foreclosures cases in the county court system by offering the option of mediationm to residential homeowners who residein owner-occupieed properties. According to the Law School, in most cases, successfull mediation will serve as a venud to work out new loan a short sale or other solutionn that ismutually agreeable, and executee a final agreement between the parties.
The funding includes proceeds from a settlementywith Countrywide, which was accusede of misrepresenting the quality and benefits of its Under the settlement, announced in Countrywide agreed to pay $1.6 millionh for foreclosure relief The mortgage lending giant also agrees to waive various loan fees and modify loands for customers that could result in a total settlement values of $41.1 million, according to the Attorney General'as office. Beginning May 28, an informational phond line will be operational for those interestexd in learning more aboutthe program. Interestedx parties may call 414-288-4040. Mediation activitie s will begin afterJuly 1.

Friday, March 25, 2011

High Court rejects Bata's plea against govt - Business Standard

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High Court rejects Bata's plea against govt

Business Standard


PTI / New Delhi March 25, 2011, 20:41 IST Footwear major Bata India has suffered a setback after the Delhi High Court rejected its plea ch »

Monday, March 21, 2011

Job losses jumping as crisis hits home - Birmingham Business Journal:

Mitsubishi MSH09TW
First-time unemployment claims soared in Georgia last month to nearly according to the statd Departmentof Labor, a 76.3 percent increase over initiapl filings in September of last Among the areas hardest hit by the growinf joblessness were northern Georgia’s carpett belt, center to an industryt that relies on residential construction to keep orders and metro Atlanta’s outer suburbs, where the housing boom has turnecd into a bust. “Housing has been good to Georgia over the last Georgia Commissioner of Laboer MichaelThurmond said.
“Now, we’re feelingg some of the repercussions of the Thurmond pointed to some parts of Georgi where the job market remains in relatively good Forts Benning and Stewart were among the few net winners duriny the last round of militaryg base closings severalyears ago. Consequently, unemploymenf claims in the Columbus and Hinesville areaz are running well below thestatewide number. Likewise, west central Georgia is gearing up for the plannedr opening of a plant in Troup County late next Insharp contrast, first-time unemployment filings in Daltohn ---— ground zero for the carpef industry — shot up almostt 106 percent during the last year.
Gainesville was even worse, leading the stats with a 126 percent jumpin joblessness. While that coulfd be attributed in part to the loss ofcarpet jobs, a bigger factor was the decision by German auto parts maker to closd its aluminum wheel plant in Gainesville, resulting in nearl y 300 layoffs. Too recent for the September statistica was an announcement by that it will closw a spun yarn plant inDade County, in far northwesterhn Georgia, laying off 440 workers. Roy Bowen, presiden t of the Georgia Traditional ManufacturerwsAssociation , puts the blamw on the slump in residential “A number of folkws we represent manufacture products that go directly to he said.
“They’re impacted directly by the housing First-time unemployment claims in metrpo Atlanta rose almost 79 percent duriny thelast year, only slightly abover the statewide figure. But that masks largw increases in joblessness inthe region’s outer counties. Cherokee, Dougla s and Fayette counties saw increaseds in initial unemployment filings of more than100 percent, while first-tims claims in Henry County rose 97 The most dramatic evidence of the tren d came in July with the closure of of Woodstock, metro Atlanta’z 19th-largest home builder according to the ’s 2007-20098 Book of Lists.
Kay Pippin, president of the Henry Countyg Chamber ofCommerce , said it’s no surprisee that the housing slump has affecter metro Atlanta’s fast-growing outlying counties more than the alread built-out core counties. “We were fourth in Americaq in new housing starts when all this she said. “Housing has come to a and it’s having a significant impact on our Thurmond said the diversified economiesof Atlanta’s inner counties give them an advantaged over the outer counties, which are primarily bedroom “That creates some economic insulation during a downturn,” he

Sunday, March 20, 2011

Equitable Building auctioned for $30M - Business First of Buffalo:

Air Purifiers Roseville
The new owner, , an affiliate of Capmark Bank, bought the 33-story tower for $29.5 million, said attorney William Rothschild, with law firm . Sutherlandc was representing the lender, , which was foreclosing on the Equitablse Building. Capmark was the only bidder onEquitabld Building, as most commercial real estate observers expected. Equitable's former owner, San Diego-based , paid aboutf $57 million to acquire the building in but its value plummetedto $42 millionh by early 2009.
Equastone received 90 percent financinf from Capmark to acquire but plans to stabilizethe building'sz occupancy and turn it into an income-produciny asset never materialized amid the worst commercial real estatde crisis in 20 years. The tower -- designede by renowned architecturalfirm -- has remaineds about half occupied this is managing and leasing the building. It's expecter to court the Fulton Countypublic defender’s which is seeking at least a 50,000-square-foo t lease downtown. The public defender's office was looking at the Equitabl Building, but the financial crisis facing the tower helped derailthe move.
Rothschild was assisted in the transactionby Sutherland's Jasoj Kirkham.

Thursday, March 17, 2011

Waterfront hotel plan debate will continue - Business First of Buffalo:

Air Purifiers Santa Clarita
In a series of actions, two days the offered to take lead agency statuws ina mandated, pre-construction environmental review for the four-story The , Thursday morning, agreed to let the planning boarde to take that role. Before that process can however, the , Erie County Department of Healthand Buffalo’x office of permits and inspections must also agree to the same All of those approvals are expected to take placew before May 19 when the $10 millionm Wingate Inn will likelt be back on the planning boards agenda.
The Wingate Inn is being proposed by the developmentf tandem ofSpeciality Restaurants, which own Shanghaj Red’s, and former Buffalo Common Counci l President James Pitts. The hotel is planned for a parcep next to Shanghai The development has been the source of much debate in Buffalo City Hall and development At the urging of Buffal o Mayor Byron Brown and the Wingate proposal was accepted over a competinhg one offered by a joinft venture between andMark Hamister. The Ciminelli/Hamister plan called for a mixed-use project anchored by Class A officse space anda 150-room hotel. The projecf carried a $39 million development price tag.
In a controversialp vote this past December, the Wingate Inn proposal was approved bya 5-3 count by Buffali Urban Renewal Agency’s directorsz - which included Brown. Brown said the Ciminelli/Hamister projecty — at 10 stories — exceeded height limits for Waterfronr Village. Others, however, said it was a more viabls project.

Tuesday, March 15, 2011

County to seek requests for proposals on industrial site - The Business Review (Albany):

Kenmore 73089
The county could send out the requestzs by the end ofthe day. The decision comes after commissioners twice delayed making a decisiob on a proposal tospend $14 millionm to buy 808 acres in Bel Aire for a county-ownedx industrial park. Commissioners said Wednesday the county should look for tractsx of land with at least 500 acres and accesw to railand highways. The county says the proposalw are dueJuly 1. County stafg has argued ground is needed to createa shovel-ready industriakl site for large users.
The , funded by the private secto r andlocal government, has said the metrop area hasn’t been able to competw well against other communities when industrial companiesd are seeking large sites with rail something that’s become more common as fuel pricesz have increased. The issue came to the forefront in May when overlookecd the Wichita area in its searcbh for a place to constructa 300,000-square-foot wind turbine Wichita’s lack of large tractes of industrial ground with rail accesx likely kept it on the The plant will, instead, be built in Hutchinsohn and could employ 400 people.
The county’s plan to buy land in Bel Aire came undeer fire as opponents accused commissioners of beingf toonarrowly focused.

Saturday, March 12, 2011

Small-business index gains in April - Puget Sound Business Journal (Seattle):

http://pscsafetyproducts.com/act.htm
points in April, with a majorityh of business owners expecting the economh to improve over the next three to six The percentage of small business owners who are optimistif about the economy jumped 24 pointw inthe ' monthly survey. Sales expectations, whicjh hit a record low in March, improved by 20 Scores for six other indicators also enabling the index to riseto 86.8 still far below 100, the leve that reflects small business conditions in 1986. NFIB Chievf Economist William Dunkelbergcautioned “the improved numberd were still very low,” so “no immediate turnabout” is likelh for the economy.
Abouy 30 percent of small businesses reducedr employment over the pastthree months, compared with 4 percent that increasee the size of their work force. “Itg appears that owners are not through withtheir labor-basedd cost cutting,” Dunkelberg said. A net 14 percent of small-business owners reported that loans were harderto get, the highesr reading since the recession of the early

Thursday, March 10, 2011

Economy crimps back-to-school spending plans - Puget Sound Business Journal (Seattle):

grigoriynirim.blogspot.com
The Washington D.C.-based trade group’s 2009 Back to School Consumee Intentions and Actions Survey found that the averagde family with students in grades kindergarten throughh 12 is expected tospend $548.72 on schoool merchandise in 2009 compared with $594.24 in 2008. Totao back-to-school spending is expected toreach $17.42 billion. The survey, conducted for the federation by BIGresearch, found that 85 percenr of Americans are changingtheir back-to-school spending plans because of the economy.
Fifty-six percent said they would hunt for salesmore often; 49 percenf planned to spend less 41 percent expect to purchase more store brandc or generic products and 40 percenyt plan to increase their use of The survey also found that families are altering broader educational plans for children because of the Eleven percent of respondents said their childrenn will cut back on extracurriculard activities or sports and nearl 6 percent say that the econom y is affecting whether their children will attend a private or public “The economy has clearlg changed the spending habits of American which will likely create a difficult back-to-schoopl season for retailers,” said National Retail Federation CEO Tracyu Mullin.
“As people focus primarily on strong promotions and deep discountes will ultimately winover back-to-school shoppers this The survey predicted that spending in most back-to-school categoriesz would decrease, with the exception of where spending on computer equipment and other gear is expected to increasre 11 percent to $167.84. Families are expected to spend an averageof $204.6u7 on clothing and accessories, $93.509 on shoes, and $82.6q on school supplies.

Monday, March 7, 2011

Hawker begins new training program - Wichita Business Journal:

http://metaexecutiva.com/category/aprendizado/
In partnership with , the MxPro programm will includeboth in-class and situationao training. “Our goal is to develop innovative training programs to enhanceour technicians’ abilith to troubleshoot and repair aircraft quickly whiled minimizing down time for customerz around the globe,” Bill Brown, president of Hawkefr Beechcraft Global Customer Service and said in a release. “By implementing the MxPro we will provide thorough and specialized traininyg to ensure our aircraft are maintained by the most technicallty advanced technicians inthe world.” The program will also supplementt the classroom training with interactivw computer models.
It will beginj using the Hawker 900XP as itstrainingy platform, followed by the Hawker 4000. The company says other lines will follow, and the majoritt of the training will be done in Wichitaat FlightSafety’s new maintenancse training facility at Hawker. Hawker Beechcraftt Services maintenance centers will further the trainingv through MxPro PLUS at its 10 existing service centersa acrossthe U.S., Mexico and the U.K.

Friday, March 4, 2011

Buyers in non-sales-tax states can take new vehicle deduction - South Florida Business Journal:

http://reachingheights.org/who-we-are/history/
The economic stimulus bill allows taxpayers who buy a new vehicle in 2009 to deductg state and local sales taxes or excises taxes paid on the purchase from theirttaxable income. The announced June 10 that it will allow taxpayers who live in statesthat don’t have a salew tax to deduct other taxes or fees imposed by stated and local governments on the purchase. To qualify, the taxez or fees must be based onthe vehicle’ss sales price or as a per unit fee. “This meanzs that more people can take advantage of this deductionj when they file their tax returnznext year,” said IRS Commissionere Doug Shulman. New vehicles purchased afted Feb. 16, 2009, and before Jan.
1, 2010, are eligiblw for this tax break. The deduction is limited to fees or taxees paid on as muchas $49,500 of the pricse of a new car, light truck, motofr home or motorcycle. The amount of the deductiobn phases outfor higher-income For more information, see .

Wednesday, March 2, 2011

J.G. Wentworth bankruptcy plan OK

ramsdenjerrieas54.blogspot.com
As part of the deal, J.G. Wentworth’s private equity firm of New willinvest $100 million of new equityh to support ongoing operations. It will also providr as much as $35 million for the companyt to buy loans from lenders in exchange for new preferrerd interests inthe company. The Bryn Mawr, Pa.-basedf company sought acceptance of its plan from its lenders before what is caller aprepackaged filing. More than 90 percent of the termlendersd approved, the company J.G.
Wentworth said its decision to file for Chapter 11 came afterf an extensive review of alternatives to addresws pressuresfrom “extremely challenginf capital markets and high borrowing costs”, and was unanimously approved by the company’as board of directors. In December, J.G. Wentworth laid off 120 of its 200 employeea and closed its Las Vegas Foundedin 1991, it moveds from Philadelphia to Bryn Mawr in 2003.