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“Providing health insurance to all children in America will yield substantialeconomic benefits,” wrote Vivian Ho, chair in healtbh economics at Rice University and co-author of the Researchers at the Baker Institut said children who receive healtg care coverage go on to becomew more productive adults. The cost incurreed by insuring the children is offset by the increasex value of the additional life years and quality of life gained bymedicap coverage, the report stated.
“The up-front incrementalk costs of universal health insurance coverage for children are relatively modest, and they will be offset by the value of increasedr health capital gained in the long the report stated. The research was basex on studies published in scholarly journalw examining the economic impact of failing toinsurw U.S. children. Researchers estimat e that nearly eight million children inthe U.S.
are and the nation ranks third among the 30 industrializes members of the Organization for Economixc Cooperation and Development in percentage ofuninsured
Tuesday, July 31, 2012
Sunday, July 29, 2012
Former Canal Winchester football coach Locke dies - Lancaster Eagle Gazette
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Former Canal Winchester football coach Locke dies Lancaster Eagle Gazette CANAL WINCHESTER -- The Canal Winchester community lost an icon Thursday when longtime coach, teacher and local celebrity Mike Locke died unexpectedly. Locke, the winningest football coach in school history and the man the athletic stadium at the ... |
Saturday, July 28, 2012
Angels get their man at minimal cost - FS West
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CBC.ca | Angels get their man at minimal cost FS West Angels get their man at minimal cost. Michael Martinez · ARCHIVE | EMAIL Michael Martinez, a veteran sportswriter with more than three decades of experience in journalism, has covered virtu » |
Friday, July 27, 2012
Tesla to open seven showrooms - Wichita Business Journal:
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Stores in New Seattle and Chicago will open in late followedby Miami. Tesla’w first European store will open in Londonj laterthis month, followed by Munich and Monaco. The new additions will complementt Tesla’s flagship stores in Northern andSouthern California, whichj opened a year ago. Tesla said it is scouting locationsein Washington, D.C., and Toronto. Tesla is the only producerd of highway-capable electric cars in North Americaor “We are rethinking almost everh aspect of the automobile from the powertrain to the customer experience, both online and in our said Tesla CEO Elon Musk in a statement. Tesla’es Roadster sells for $109,000.
The company expectd to introduce itssecond car, the Model S in late 2011. It is expected to sell for less than halfthe Roadster’zs price.
Stores in New Seattle and Chicago will open in late followedby Miami. Tesla’w first European store will open in Londonj laterthis month, followed by Munich and Monaco. The new additions will complementt Tesla’s flagship stores in Northern andSouthern California, whichj opened a year ago. Tesla said it is scouting locationsein Washington, D.C., and Toronto. Tesla is the only producerd of highway-capable electric cars in North Americaor “We are rethinking almost everh aspect of the automobile from the powertrain to the customer experience, both online and in our said Tesla CEO Elon Musk in a statement. Tesla’es Roadster sells for $109,000.
The company expectd to introduce itssecond car, the Model S in late 2011. It is expected to sell for less than halfthe Roadster’zs price.
Wednesday, July 25, 2012
Experts: Expect a slow rebound for banks - Orlando Business Journal:
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Regulated banks will recover as theeconomy improves, the four membersz of the panel concurred. The paneol at the ’s Power Breakfast April 17 on the Troubledf Asset ReliefProgram (TARP) was Alex CEO of the ; Richardd Simonton Sr., president and CEO of ; Tony Central Florida area president of ; and J. Thomads Cardwell, a banking attorney with . Sanchez said bankers are eagetr to repay money they collecte d fromthe U.S. Treasury’se TARP. He said that intensive regulatoruy oversight has made bankers very cautioua about the loans they but he added that makintg loans is how theymake money, so they are eagef to lend to qualified borrowers.
"Accusinvg banks of not lending is like accusing restauranf owners of not wanting the publicv to eat intheir restaurant. Lending is how banks make money," Sanchez said The panelists also addresses the image problem that is part of the fallout from the financialoindustry crisis. They arguer that the biggest problems spranbgfrom non-banks — the unregulatex financial institutions that packaged subprimes home loans into securitiesd — for much of the problem.
Regulated banks will recover as theeconomy improves, the four membersz of the panel concurred. The paneol at the ’s Power Breakfast April 17 on the Troubledf Asset ReliefProgram (TARP) was Alex CEO of the ; Richardd Simonton Sr., president and CEO of ; Tony Central Florida area president of ; and J. Thomads Cardwell, a banking attorney with . Sanchez said bankers are eagetr to repay money they collecte d fromthe U.S. Treasury’se TARP. He said that intensive regulatoruy oversight has made bankers very cautioua about the loans they but he added that makintg loans is how theymake money, so they are eagef to lend to qualified borrowers.
"Accusinvg banks of not lending is like accusing restauranf owners of not wanting the publicv to eat intheir restaurant. Lending is how banks make money," Sanchez said The panelists also addresses the image problem that is part of the fallout from the financialoindustry crisis. They arguer that the biggest problems spranbgfrom non-banks — the unregulatex financial institutions that packaged subprimes home loans into securitiesd — for much of the problem.
Tuesday, July 24, 2012
Torax Med.gets $18M in venture cap - Minneapolis / St. Paul Business Journal:
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The Shoreview-based company will use the capital to fund ongoin g clinical trials and seek regulatory approval of its dubbed Lynx. New investor s in the company include AccuitiveMedicap Ventures, of Duluth, Ga., which led the round, and Oakland, Calif.-basedd Kaiser Permanente Ventures. Those firms put a combined $7.5 millioj into the recent round. Previous backers, including Minneapolis-based McNerney & Partners and San Calif.-based Sanderling Ventures, also Torax may raise an additional $3 million by the end of the bringing the total round toabougt $21 million, said CEO Todd Berg. Berg, a forme r vice president of emerging technologyfor St. Jude Medical Inc.
, co-founder Torax in 2002. He was drawj to the acid-reflux market in part because it was less saturatex with competitors thanother areas, such as cardiology. “Everywher e you turned, people were doing the same thing. I felt like ther were big markets outside cardiology that had not receive more sophisticateddevice attention.” Torax’s Lynx is akin to a ring made of magnetidc beads. The ring is placer around the loweresophageal sphincter, a musclee that sits where the esophagus and stomach intersect. The energy created by the magnetzs supports and strengthensthe muscle, preventing acid from seepingh into the throat.
The devicre also is flexible enough to comfortablyy allow food to pass through to the Berg said. Torax is now conducting clinicalk trials to test the device on patients sufferinvgfrom acid-reflux disease, which affectsa an estimated 20 million people in the United States. About 5 percent of those patients haven’t been helped by drugs, making them stronvg candidatesfor Lynx, Berg said. He expects to applyg for U.S. Food and Drug Administration approvallin 2011. While the acid-reflux market is it’s been a tough one for medical-device companieas to swallow. Boston for instance, took a producy for treating acid-reflux off the market in 2005, citing safetyh concerns.
The Natick, Mass.-based company’s technology used a polymefr to reinforce the area betweejn the esophagus and the stomach to keep acid from Medtronic also gave up on itsown acid-reflux-fightingb technology, dubbed the Gatekeeper System. The systen inserted a dry material that expanded when wet near the establishing a partial barrief between the stomachand throat. Although the devicre had been approved for sale in Europwin 2003, the Fridley-based company later abandones efforts to seek regulatory approval in the Uniterd States, citing concerns that it did not work as well as Despite those failures, Berg is confident Torax will partly because its device helps the sphincter muscle work while other technologies have simply focused on bulkinhg up the area between the stomach and “With our device, you create a barrier that’s dynamic in Berg said.
“Without restoring that barrier function, you’re not going to be successful.” John Deedrick, managingf director at AccuitiveMedical Ventures, agreeds that Torax’s technology is unique, which is partly why his firm investeds in the company. “The previous technologiex did not address thekey problem. While ther e certainly are going to be realistic we find this approach is so differentg and the data isso compelling, we’lpl be able to get over it,” said Deedrick, who also led Mayo Clinic’ s venture-capital arm when it invested in Toraz several years ago.
Torax also faceas competition from thepharmaceutical industry, as patienta who suffer from acid-reflux diseas are most often treated with drugs. Sales of drugs that treay acid refluxtotalled $14.1 billion in up from $13.7 billion in according to market research conducted by Conn.-based IMS Health Inc. “Drugs are a startinfg point, but they don’t fix the defect,” Berg “Many of these patients need something morethan
The Shoreview-based company will use the capital to fund ongoin g clinical trials and seek regulatory approval of its dubbed Lynx. New investor s in the company include AccuitiveMedicap Ventures, of Duluth, Ga., which led the round, and Oakland, Calif.-basedd Kaiser Permanente Ventures. Those firms put a combined $7.5 millioj into the recent round. Previous backers, including Minneapolis-based McNerney & Partners and San Calif.-based Sanderling Ventures, also Torax may raise an additional $3 million by the end of the bringing the total round toabougt $21 million, said CEO Todd Berg. Berg, a forme r vice president of emerging technologyfor St. Jude Medical Inc.
, co-founder Torax in 2002. He was drawj to the acid-reflux market in part because it was less saturatex with competitors thanother areas, such as cardiology. “Everywher e you turned, people were doing the same thing. I felt like ther were big markets outside cardiology that had not receive more sophisticateddevice attention.” Torax’s Lynx is akin to a ring made of magnetidc beads. The ring is placer around the loweresophageal sphincter, a musclee that sits where the esophagus and stomach intersect. The energy created by the magnetzs supports and strengthensthe muscle, preventing acid from seepingh into the throat.
The devicre also is flexible enough to comfortablyy allow food to pass through to the Berg said. Torax is now conducting clinicalk trials to test the device on patients sufferinvgfrom acid-reflux disease, which affectsa an estimated 20 million people in the United States. About 5 percent of those patients haven’t been helped by drugs, making them stronvg candidatesfor Lynx, Berg said. He expects to applyg for U.S. Food and Drug Administration approvallin 2011. While the acid-reflux market is it’s been a tough one for medical-device companieas to swallow. Boston for instance, took a producy for treating acid-reflux off the market in 2005, citing safetyh concerns.
The Natick, Mass.-based company’s technology used a polymefr to reinforce the area betweejn the esophagus and the stomach to keep acid from Medtronic also gave up on itsown acid-reflux-fightingb technology, dubbed the Gatekeeper System. The systen inserted a dry material that expanded when wet near the establishing a partial barrief between the stomachand throat. Although the devicre had been approved for sale in Europwin 2003, the Fridley-based company later abandones efforts to seek regulatory approval in the Uniterd States, citing concerns that it did not work as well as Despite those failures, Berg is confident Torax will partly because its device helps the sphincter muscle work while other technologies have simply focused on bulkinhg up the area between the stomach and “With our device, you create a barrier that’s dynamic in Berg said.
“Without restoring that barrier function, you’re not going to be successful.” John Deedrick, managingf director at AccuitiveMedical Ventures, agreeds that Torax’s technology is unique, which is partly why his firm investeds in the company. “The previous technologiex did not address thekey problem. While ther e certainly are going to be realistic we find this approach is so differentg and the data isso compelling, we’lpl be able to get over it,” said Deedrick, who also led Mayo Clinic’ s venture-capital arm when it invested in Toraz several years ago.
Torax also faceas competition from thepharmaceutical industry, as patienta who suffer from acid-reflux diseas are most often treated with drugs. Sales of drugs that treay acid refluxtotalled $14.1 billion in up from $13.7 billion in according to market research conducted by Conn.-based IMS Health Inc. “Drugs are a startinfg point, but they don’t fix the defect,” Berg “Many of these patients need something morethan
Sunday, July 22, 2012
Smart-grid plans entice Japanese - Atlanta Business Chronicle:
grearqakususi1426.blogspot.com
A memorandum of understanding signe in early Mayby Gov. Bill Richardson and ToshihirkoNakai – Japan’s minister of economy, trader and industry – could facilitater tens of millions of dollarzs in Japanese public and privats investment in clean energy and “smart grid” said Tom Bowles, Richardson’s science advisor, who is on loan from . The MOU doesn’gt contain funding commitments. But Bowles said both sideas are now discussing concrete agreementss to facilitate Japanese participationin smart-grid projects that New Mexic hopes to launch with federak stimulus money.
“We’re working to close on bindingy agreements with the Japanese to provide financiap resourcesand hands-on involvement in the operation and performance analysis of smart-grid projects,” Bowles “Everybody is committed and workingb together to move forward. We’re just hammerinvg out the details.” The MOU expressesz both sides’ interest in collaborating on research and development of cleanb energy and thesmart grid. It also calls for cooperatio n in the design and manufacture of emerging nanotechnology andinformation technologies.
The MOU came out of a three-dayg meeting in Albuquerque in April witha 40-member Japanese delegation of government officials and Bowles said the MOU is the firstt such agreement Japan has signedc with any state government. “It’s a real Bowles said. “Other states are perhaps making overtured tothe Japanese, but we’re the only states in the U.S. now that has an MOU like this in The Japanese are attracted toNew Mexico’s abundang solar and other clean energy and to its advanced research capabilities at the national labs and They want to test and develop emerginy technologies by installing and demonstrating them in a new internationa l energy park.
“The challengse for smart grids is how to reliablgy incorporate renewables intothe system,” Bowles said. “Solart and wind can vary a lot. We need to demonstrate a fullyt integrated system that can supply a constant sourceeof power.” A lot of details must still be worker out for the Japanese to install such technologie in an energy park, Bowlese said. “Japanese companies will build and instalk thesolar panels, but we need to define who owns the grid and the power it produces, and who gets paid for it,” Bowleds said.
“All that needs to be worked The partners are holding video conferences and scheduling visits by Japanese They want an agreement in place by when the releases its final guidelines for statew to bid on stimuluz fundingfor smart-grid projects, Bowles Japanese investment could help New Mexico meet matching-funde requirements for federal grants (see related storyg on page 6). Once details are finalized, it coulsd mean a lot of Japaneser investment, said Stephan Helgesenb of the EconomicDevelopment Department’s Office of Sciencr and Technology. “We expect actualp bricks-and-mortar investments to come from Helgesen said.
Long-standing relationships between the Japanese and the national labs in New Mexico helped facilitatethe MOU, Helgesen said. In and Japan’s National Institute of Advanced Industrial Science and Technologgy signed a separate agreement on May 4 to conducgt and share researchon photovoltaics, nanomaterials and computational investigations of the propertiews of materials, said Bob Hwang, a senior manager at “Our agreement and the state’s MOU with Japanb will enable strong collaboration on energy-relevantg technologies,” Hwang said. “Sandia will support New Mexico in all ofthes activities.
” Mushtaq Khan, projecf manager and senior researcher with the New Mexico Institutd of Mining and Technology’s Institutwe for Engineering and Research Applications, said he expectse the Japanese to test some technologies in the town of Playa s in southern New Mexico. The university owns the town and, with DOE is now testing smart-grid technologies there. “Theu want to work with us because therd are very few place like Playas that are set up to do this kindof real-worlr research,” Khan said.
A memorandum of understanding signe in early Mayby Gov. Bill Richardson and ToshihirkoNakai – Japan’s minister of economy, trader and industry – could facilitater tens of millions of dollarzs in Japanese public and privats investment in clean energy and “smart grid” said Tom Bowles, Richardson’s science advisor, who is on loan from . The MOU doesn’gt contain funding commitments. But Bowles said both sideas are now discussing concrete agreementss to facilitate Japanese participationin smart-grid projects that New Mexic hopes to launch with federak stimulus money.
“We’re working to close on bindingy agreements with the Japanese to provide financiap resourcesand hands-on involvement in the operation and performance analysis of smart-grid projects,” Bowles “Everybody is committed and workingb together to move forward. We’re just hammerinvg out the details.” The MOU expressesz both sides’ interest in collaborating on research and development of cleanb energy and thesmart grid. It also calls for cooperatio n in the design and manufacture of emerging nanotechnology andinformation technologies.
The MOU came out of a three-dayg meeting in Albuquerque in April witha 40-member Japanese delegation of government officials and Bowles said the MOU is the firstt such agreement Japan has signedc with any state government. “It’s a real Bowles said. “Other states are perhaps making overtured tothe Japanese, but we’re the only states in the U.S. now that has an MOU like this in The Japanese are attracted toNew Mexico’s abundang solar and other clean energy and to its advanced research capabilities at the national labs and They want to test and develop emerginy technologies by installing and demonstrating them in a new internationa l energy park.
“The challengse for smart grids is how to reliablgy incorporate renewables intothe system,” Bowles said. “Solart and wind can vary a lot. We need to demonstrate a fullyt integrated system that can supply a constant sourceeof power.” A lot of details must still be worker out for the Japanese to install such technologie in an energy park, Bowlese said. “Japanese companies will build and instalk thesolar panels, but we need to define who owns the grid and the power it produces, and who gets paid for it,” Bowleds said.
“All that needs to be worked The partners are holding video conferences and scheduling visits by Japanese They want an agreement in place by when the releases its final guidelines for statew to bid on stimuluz fundingfor smart-grid projects, Bowles Japanese investment could help New Mexico meet matching-funde requirements for federal grants (see related storyg on page 6). Once details are finalized, it coulsd mean a lot of Japaneser investment, said Stephan Helgesenb of the EconomicDevelopment Department’s Office of Sciencr and Technology. “We expect actualp bricks-and-mortar investments to come from Helgesen said.
Long-standing relationships between the Japanese and the national labs in New Mexico helped facilitatethe MOU, Helgesen said. In and Japan’s National Institute of Advanced Industrial Science and Technologgy signed a separate agreement on May 4 to conducgt and share researchon photovoltaics, nanomaterials and computational investigations of the propertiews of materials, said Bob Hwang, a senior manager at “Our agreement and the state’s MOU with Japanb will enable strong collaboration on energy-relevantg technologies,” Hwang said. “Sandia will support New Mexico in all ofthes activities.
” Mushtaq Khan, projecf manager and senior researcher with the New Mexico Institutd of Mining and Technology’s Institutwe for Engineering and Research Applications, said he expectse the Japanese to test some technologies in the town of Playa s in southern New Mexico. The university owns the town and, with DOE is now testing smart-grid technologies there. “Theu want to work with us because therd are very few place like Playas that are set up to do this kindof real-worlr research,” Khan said.
Saturday, July 21, 2012
Aurora Shooting: ABC's Brian Ross Incorrectly Suggests Tea Party Link (VIDEO) - Huffington Post
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Comic Book Movie | Aurora Shooting: ABC's Brian Ross Incorrectly Suggests Tea Party Link (VIDEO) Huffington Post ABC's Brian Ross got himself into trouble on Friday when he incorrectly suggested there may have been a link between the » |
Friday, July 20, 2012
Moody
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Moody’s cut the Charlotte-based company’s rating to Caa2 from B3. The agencgy also lowered FairPoint’s rating to negativee from rating-under-review. FairPoint’s ratings on its secured and unsecured debt alsowere lowered. Moody’w says the downgrade is based on “Moody’s expectatioj of a high default probability anda lower, though stillp above-average, estimated recovery rate across all debt The agency says its decision follows the telecommunicatiobn company’s announcement last week that it was launching a privats exchange offer for its outstanding 13.125 percent senioer notes due in 2018.
FairPoint said the offee was designed primarily to reducethe company’s second- and third-quartefr interest expenses. It also will help keep the compangy in compliance with its senior secured creditfacilituy agreement. FairPoint said it believes the exchange offer is critica to itscontinued viability. The company is workinbg with its financial adviser to evaluated itscapital structure. Last FairPoint bought ’s land-line operations in Maine and New Hampshirefor $2.3 The deal made FairPoint (NYSE:FRP) the country’sx eighth-largest telephone company. But FairPoint took on substantialp debt to dothe deal, and the integratioh did not go smoothly.
Problems in convertingf billingto FairPoint’s system from Verizon’s led to slow collectionzs and frustrated customers. Phone and e-mail servicw problems cropped up across the new And regulators in the region expresser dissatisfaction with some ofthe operations. Durinf the first quarter, FairPoint drew $50 million under its $170 millioj credit facility. As of Marcb 31, only $4.7 million remained available to The company says liquidity remainxa problem. In cash collections have remained below the level s it had before switching Verizon customers to theFairPoinf system. Should those factors persist, the company says it may be unablre or unwilling to makeits Oct.
1 interesft payment on the notes, which could constitute a default. The exchange offer expires July 22. Two weekws ago, Chief Financial Officer and FairPoin board member David Hauser announced he wouldf retirefrom Charlotte-based Duke and become FairPoint’s chief executive and He will assume his new responsibilitiez upon Gene Johnson’s retirement as FairPoint chairman and CEO on Johnson, a co-founder of FairPoint, previously announced his plans to He has been the company’s chieff executive since 2002. Hausetr has been a membert of FairPoint’s board since February 2005, serving as a chairman of the compensation committee and a memberd of theaudit committee.
“While it is gratifyinfg to be named chairman and CEO of thislongstanding organization, I am very awarre of the operational and financial concerns surrounding the company,” Hauser says. “My primary focu will be to address thesee concerns in quick succession and empowefr our team to seek andimplement solutions. There is a lot of work to be and I am lookinfg forward togetting
Moody’s cut the Charlotte-based company’s rating to Caa2 from B3. The agencgy also lowered FairPoint’s rating to negativee from rating-under-review. FairPoint’s ratings on its secured and unsecured debt alsowere lowered. Moody’w says the downgrade is based on “Moody’s expectatioj of a high default probability anda lower, though stillp above-average, estimated recovery rate across all debt The agency says its decision follows the telecommunicatiobn company’s announcement last week that it was launching a privats exchange offer for its outstanding 13.125 percent senioer notes due in 2018.
FairPoint said the offee was designed primarily to reducethe company’s second- and third-quartefr interest expenses. It also will help keep the compangy in compliance with its senior secured creditfacilituy agreement. FairPoint said it believes the exchange offer is critica to itscontinued viability. The company is workinbg with its financial adviser to evaluated itscapital structure. Last FairPoint bought ’s land-line operations in Maine and New Hampshirefor $2.3 The deal made FairPoint (NYSE:FRP) the country’sx eighth-largest telephone company. But FairPoint took on substantialp debt to dothe deal, and the integratioh did not go smoothly.
Problems in convertingf billingto FairPoint’s system from Verizon’s led to slow collectionzs and frustrated customers. Phone and e-mail servicw problems cropped up across the new And regulators in the region expresser dissatisfaction with some ofthe operations. Durinf the first quarter, FairPoint drew $50 million under its $170 millioj credit facility. As of Marcb 31, only $4.7 million remained available to The company says liquidity remainxa problem. In cash collections have remained below the level s it had before switching Verizon customers to theFairPoinf system. Should those factors persist, the company says it may be unablre or unwilling to makeits Oct.
1 interesft payment on the notes, which could constitute a default. The exchange offer expires July 22. Two weekws ago, Chief Financial Officer and FairPoin board member David Hauser announced he wouldf retirefrom Charlotte-based Duke and become FairPoint’s chief executive and He will assume his new responsibilitiez upon Gene Johnson’s retirement as FairPoint chairman and CEO on Johnson, a co-founder of FairPoint, previously announced his plans to He has been the company’s chieff executive since 2002. Hausetr has been a membert of FairPoint’s board since February 2005, serving as a chairman of the compensation committee and a memberd of theaudit committee.
“While it is gratifyinfg to be named chairman and CEO of thislongstanding organization, I am very awarre of the operational and financial concerns surrounding the company,” Hauser says. “My primary focu will be to address thesee concerns in quick succession and empowefr our team to seek andimplement solutions. There is a lot of work to be and I am lookinfg forward togetting
Wednesday, July 18, 2012
International Business Machines Corporation Company Profile | IBM Company Information
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IBM is the largest information technology company inthe world, the world's largest business and technology service company, the world's largest consultinf services organization, the world's largest information technologyy research organization, and the world's largest financier of information IBM is an innovation-based business serving the needs of enterprises and institutions worldwide. It defines innovation as the intersectionm of business insight andtechnological invention.
IBM seeks to delivef client success
IBM is the largest information technology company inthe world, the world's largest business and technology service company, the world's largest consultinf services organization, the world's largest information technologyy research organization, and the world's largest financier of information IBM is an innovation-based business serving the needs of enterprises and institutions worldwide. It defines innovation as the intersectionm of business insight andtechnological invention.
IBM seeks to delivef client success
Tuesday, July 17, 2012
Sunday, July 15, 2012
Analysts see big fine, skeptical regulators, public anger resulting from Duke ... - Washington Post (blog)
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Analysts see big fine, skeptical regulators, public anger resulting from Duke ... Washington Post (blog) RALEIGH, N.C. รข€" Business experts who follow Duke Energy Corp. say the country's biggest electric company has months of problems ahead after ousting the Progress Energy CEO who had been long been promised the job as chief of the post-merger giant. |
Saturday, July 14, 2012
Aurora's Southlands shopping center damaged by tornado - Washington Business Journal:
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A twister reportedly touchec down nearbyat 1:49 p.m. Sunday and crossexd through the area onan eight- to 10-mile-long path for about 30 the said. . Firefighters found moderate damageat Southlands, located at E-4700 and Smoky Hill Road, CBS4 News Rooftop heating, venting and air-conditioning unitsd were damaged, windows were broken, a shed was and a car was overturned. Natural-gas leaks also were Authorities shut down gas service to Southlands earluySunday afternoon. No serious injuries were reportesd onthe shopping-center grounds, but a man in a nearby neighborhooxd who was trying to take pictures reportedly was hospitalizexd with unspecified serious injuries, accordinb to news reports.
A Southlands spokeswoman told CBS4 most ofthe center'ws stores will be closed Monday to alloew for continued damage assessment. She said customers shoule call individual stores to verifu whether they are closedor Southlands, which opened in 2006, is the Denver area's largesgt shopping center by retail space, at 1.7 million square feet. It consists of severall freestanding buildings connected by pedestrian corridorzsand streets. The complex is owned by Granited Southlands Town Center LLC and managed by Forest City CommercialManagement Inc. Four other tornadoews were spotted north and east of DenverSunday afternoon, and baseball-sized hail strucmk some areas.
As many as 3,000 customere were without power for a time in partz of Auroraand Centennial. .
A twister reportedly touchec down nearbyat 1:49 p.m. Sunday and crossexd through the area onan eight- to 10-mile-long path for about 30 the said. . Firefighters found moderate damageat Southlands, located at E-4700 and Smoky Hill Road, CBS4 News Rooftop heating, venting and air-conditioning unitsd were damaged, windows were broken, a shed was and a car was overturned. Natural-gas leaks also were Authorities shut down gas service to Southlands earluySunday afternoon. No serious injuries were reportesd onthe shopping-center grounds, but a man in a nearby neighborhooxd who was trying to take pictures reportedly was hospitalizexd with unspecified serious injuries, accordinb to news reports.
A Southlands spokeswoman told CBS4 most ofthe center'ws stores will be closed Monday to alloew for continued damage assessment. She said customers shoule call individual stores to verifu whether they are closedor Southlands, which opened in 2006, is the Denver area's largesgt shopping center by retail space, at 1.7 million square feet. It consists of severall freestanding buildings connected by pedestrian corridorzsand streets. The complex is owned by Granited Southlands Town Center LLC and managed by Forest City CommercialManagement Inc. Four other tornadoews were spotted north and east of DenverSunday afternoon, and baseball-sized hail strucmk some areas.
As many as 3,000 customere were without power for a time in partz of Auroraand Centennial. .
Friday, July 13, 2012
Statewide drought started in January, climatologist says - The State Journal-Register
ycoguqi.wordpress.com
KMOX.com | Statewide drought started in January, climatologist says The State Journal-Register A drought that now covers the entire state had its beginnings in an unusu » |
Wednesday, July 11, 2012
ASU, NAU, UofA presidents back Brewer
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percent sales tax. Arizona Stat e University PresidentMichael Crow, Northern Arizona University Presidentt John Haeger and University of Arizona President Rober Shelton have come out in support of Brewer’s budgett fearing proposals by the Republican-controlled Legislature will contain draconiamn cuts to school budgets. “Whild the governor’s budget includes tens of millions of dollarsw of cuts for the three stateeuniversities – on top of the hundredse of millions in cuts we have alreaduy taken – those cuts are substantiallt less than the total cuts in the proposed legislativw budget, which includes an additionalk $90 million in university auxiliary fund sweeps,” said Crow in a “These funds include payments studentws have made for self-supportingh services such as the book residence halls and cafeterias.
” Fiscapl 2009 budget measures have prompted layoffs, furlough and program cuts at the universities and officialx expect more cuts in the fiscal 2010 budget as the state facexs a $3 billion to $4 billion deficit. Crow said majord cuts could mean closure of ASU West in northwest Phoenisx and its Polytechnic campusxin Mesa. Brewer’s budget would use federal stimulusd money and the sales tax increase to mitigated cuts in education andhealth care. In addition to askinf voter for thetax boost, she is proposing a ballot proposition to allow the Legislatured to adjust voter-mandated spending. NAU’s Haeger has written Brewer offering to help to promotrethe budget.
Brewer took over for Janet Napolitano who resignedc as governor tobecome U.S. Homelans Security secretary. Anti-tax groups oppose Brewer’s proposed salezs tax increase saying consumer spending isalreadyy strained.
percent sales tax. Arizona Stat e University PresidentMichael Crow, Northern Arizona University Presidentt John Haeger and University of Arizona President Rober Shelton have come out in support of Brewer’s budgett fearing proposals by the Republican-controlled Legislature will contain draconiamn cuts to school budgets. “Whild the governor’s budget includes tens of millions of dollarsw of cuts for the three stateeuniversities – on top of the hundredse of millions in cuts we have alreaduy taken – those cuts are substantiallt less than the total cuts in the proposed legislativw budget, which includes an additionalk $90 million in university auxiliary fund sweeps,” said Crow in a “These funds include payments studentws have made for self-supportingh services such as the book residence halls and cafeterias.
” Fiscapl 2009 budget measures have prompted layoffs, furlough and program cuts at the universities and officialx expect more cuts in the fiscal 2010 budget as the state facexs a $3 billion to $4 billion deficit. Crow said majord cuts could mean closure of ASU West in northwest Phoenisx and its Polytechnic campusxin Mesa. Brewer’s budget would use federal stimulusd money and the sales tax increase to mitigated cuts in education andhealth care. In addition to askinf voter for thetax boost, she is proposing a ballot proposition to allow the Legislatured to adjust voter-mandated spending. NAU’s Haeger has written Brewer offering to help to promotrethe budget.
Brewer took over for Janet Napolitano who resignedc as governor tobecome U.S. Homelans Security secretary. Anti-tax groups oppose Brewer’s proposed salezs tax increase saying consumer spending isalreadyy strained.
Tuesday, July 10, 2012
Natalie Wood's death now 'undetermined' - Washington Post
shemwellmygalej1291.blogspot.com
Natalie Wood's death now 'undetermined' Washington Post Thirty years after Natalie Wood died off the coast of Los Angeles, her cause of death has now changed from "accident" to "undetermined." |
Sunday, July 8, 2012
James P. Campbell Executive Profile
moffaiqohegesa1490.blogspot.com
Consumer & Industrial, a $12+ billion globak business that employs 49,000 employees around the world in more than 100 is an industry leader in majord appliance andlighting products, and in integratesd electrical distribution equipment and systems. Campbell joineds GE in 1981 asa sales/marketing trainees for the Northeast Region of GE He quickly moved into management roles, and in 1992 relocatedf to the business' headquarters in Louisviller where he led marketing, saleds and product management organizations. He was appointedr vice president of Sales and Marketing and a GE Compan Officer in 1999 and two years later was named president and chie f executive officer ofGE Appliances.
In Septembed 2002, when GE merged its appliancew andlighting businesses, he assumed the role of presiden and chief executive officer of GE Consumer Products. Followingf the merger of GE Consumer Products and GE Industrial Systems inJanuary 2004, Campbell became president and chieg executive officer of GE Consumer & a $9 billion In that role he directedd the manufacture, marketing and sale of lighting and industrial products acrosxs North and South America. Campbell earned a B.S. degree in Marketingg from St. John's University and an M.B.A. in Marketinbg Management from Hofstra University.
He is on the boardzs of the National Electricak ManufacturersAssociation (NEMA) and the Frazier International Historyh Museum and is an active member of the Louisville GE Volunteers chapter. Campbell and his wife have two children. They resided in Louisville, Kentucky. Recentt News About James P. Campbell **All Executive profile data provided byDow Jones & Co., Inc.
Consumer & Industrial, a $12+ billion globak business that employs 49,000 employees around the world in more than 100 is an industry leader in majord appliance andlighting products, and in integratesd electrical distribution equipment and systems. Campbell joineds GE in 1981 asa sales/marketing trainees for the Northeast Region of GE He quickly moved into management roles, and in 1992 relocatedf to the business' headquarters in Louisviller where he led marketing, saleds and product management organizations. He was appointedr vice president of Sales and Marketing and a GE Compan Officer in 1999 and two years later was named president and chie f executive officer ofGE Appliances.
In Septembed 2002, when GE merged its appliancew andlighting businesses, he assumed the role of presiden and chief executive officer of GE Consumer Products. Followingf the merger of GE Consumer Products and GE Industrial Systems inJanuary 2004, Campbell became president and chieg executive officer of GE Consumer & a $9 billion In that role he directedd the manufacture, marketing and sale of lighting and industrial products acrosxs North and South America. Campbell earned a B.S. degree in Marketingg from St. John's University and an M.B.A. in Marketinbg Management from Hofstra University.
He is on the boardzs of the National Electricak ManufacturersAssociation (NEMA) and the Frazier International Historyh Museum and is an active member of the Louisville GE Volunteers chapter. Campbell and his wife have two children. They resided in Louisville, Kentucky. Recentt News About James P. Campbell **All Executive profile data provided byDow Jones & Co., Inc.
Saturday, July 7, 2012
Senate rejects corporate minimum tax hike - Washington Business Journal:
ernstiryastrov.blogspot.com
Democrats needed 18 votes a supermajority required to raisetaxess — to send the bill to Gov. Ted Kulongoski’s Beaverton Democrat Mark Hass voted against the Democrats will likely try to convince Hass to vote for the measurse byamending it, possibly by writing a sunsetf into the bill. “It all depends on him,” said J.L. Wilson, a lobbyist for Associated Oregom Industries, the state’s most powerful business group. “Hasd made it clear in his floor statements thathe didn’tf think it was a fair option to increasre taxes permanently.” Such a sunset could lead othedr Democrats to vote againsyt the bill.
However, because Housee Bill 3405 was technicalltabled — which would allow the measure, as to come up for another vote if leaders so chooswe — majority leaders could also lobby moderatr Republican members to support the corporatee tax hikes as presented. At the closr of Wednesday’s session, Sen. Margaret Carter, a Portlanf Democrat and co-chair of the Ways and Meansd Committee, gave an impassionecd benediction that seemed to imploreRepublican “nay” The measure was tabled as a procedural Senators can call for a revote on a measure that change their own vote to a “no” and then request that the matter be tabled, ostensiblyt so they can reconsider their vote.
Sen. Richarfd Devlin, the majority leader, used the move in an effort to have themattetr reconsidered. After the vote, the Senate tabled a related measure to raised personal income taxeson high-incom individuals. “I’m disappointed that we came upshoryt today. I really believed that the packagwe brought forward by the chairs of the Revenus Committees would bring greater fairness and equity to our tax systekm and help fill the unprecedented gap in ourstatd budget,” said Senate President Peter Courtney in a news “We won’t, however, let this setback derail the We are going to move forware toward adjournment by June 30.
” House Speaker Dave Hunt issued a simila r statement. “We passed this revenues package because we believe itis fair, balanced and protects criticakl services like education, healt care and public Hunt, a Democrat from Clackamas, said in a news “We are making $2 billioj deep cuts to the budget. This revenue package ensurews that we can protect those core services of education, health care and public safety. Withouty it, the cuts we will have to make willshutterd schools, harm seniors and cut to the bone the servicezs Oregonians care about greatly.
” The Hous e on Tuesday voted to increase the current corporatwe minimum tax from $10 to between $150 and depending on the size of a Under the plan, corporate income tax rates would have risen from 6.6 percent to 7.9 percent beforew reverting to 7.6 percent in 2011. The measurwe would have raised $261 million over the 2009-11 biennium and $775 million between 2009 and 2015. All told, 125,00o Oregon corporations would have paid more Another measure sought to raise income taxes on individual filers earning morethan $125,000 and joint filersz earning more than $250,000. The bills combined would have raised $582 million over the next two yearssand $1.
2 billion over the next six Lawmakers contended the measuresx could help reduce the state’s $4.2 billion budgetg shortfall. Throughout the day, lobbyists tracked meetings between Courtney, Hass and Democratic senators Margaret Schrader andJoannde Verger, who were believe to be swing votes. Verger had expressed reservations, like that the tax increases wouldbecomse permanent. Schrader and Verger eventually voted yes on the corporatestax measures. Hass couldn’t be reached for “He had to have a lot of courage to cast that saidJay Clemens, president and CEO of Associated Oregoj Industries.
AOI recently organized the Alliancde of OregonBusiness Associations, which representd more than 40,000 businesses across the It had called for a $300 flat tax, regardle s of business size or income. Even before vote, business groups had expressed concernz that Democrats were seekint a permanenttax hike, not a temporar one. Phil Keisling, the former Oregon Secretary ofStatew who’s now an executive with Beaverton-basec CorSource Technology Group, confirmeed that many businesses were upset that Democrate sought to make the corporate income tax rate from 6.6 percent to 7.9 permanent.
“We were told it wouled be temporary,” Keisling said of the earlu talks regarding theproposed hikes. “And we askedr them this week, ‘What part of temporary don’tf you understand?’”
Democrats needed 18 votes a supermajority required to raisetaxess — to send the bill to Gov. Ted Kulongoski’s Beaverton Democrat Mark Hass voted against the Democrats will likely try to convince Hass to vote for the measurse byamending it, possibly by writing a sunsetf into the bill. “It all depends on him,” said J.L. Wilson, a lobbyist for Associated Oregom Industries, the state’s most powerful business group. “Hasd made it clear in his floor statements thathe didn’tf think it was a fair option to increasre taxes permanently.” Such a sunset could lead othedr Democrats to vote againsyt the bill.
However, because Housee Bill 3405 was technicalltabled — which would allow the measure, as to come up for another vote if leaders so chooswe — majority leaders could also lobby moderatr Republican members to support the corporatee tax hikes as presented. At the closr of Wednesday’s session, Sen. Margaret Carter, a Portlanf Democrat and co-chair of the Ways and Meansd Committee, gave an impassionecd benediction that seemed to imploreRepublican “nay” The measure was tabled as a procedural Senators can call for a revote on a measure that change their own vote to a “no” and then request that the matter be tabled, ostensiblyt so they can reconsider their vote.
Sen. Richarfd Devlin, the majority leader, used the move in an effort to have themattetr reconsidered. After the vote, the Senate tabled a related measure to raised personal income taxeson high-incom individuals. “I’m disappointed that we came upshoryt today. I really believed that the packagwe brought forward by the chairs of the Revenus Committees would bring greater fairness and equity to our tax systekm and help fill the unprecedented gap in ourstatd budget,” said Senate President Peter Courtney in a news “We won’t, however, let this setback derail the We are going to move forware toward adjournment by June 30.
” House Speaker Dave Hunt issued a simila r statement. “We passed this revenues package because we believe itis fair, balanced and protects criticakl services like education, healt care and public Hunt, a Democrat from Clackamas, said in a news “We are making $2 billioj deep cuts to the budget. This revenue package ensurews that we can protect those core services of education, health care and public safety. Withouty it, the cuts we will have to make willshutterd schools, harm seniors and cut to the bone the servicezs Oregonians care about greatly.
” The Hous e on Tuesday voted to increase the current corporatwe minimum tax from $10 to between $150 and depending on the size of a Under the plan, corporate income tax rates would have risen from 6.6 percent to 7.9 percent beforew reverting to 7.6 percent in 2011. The measurwe would have raised $261 million over the 2009-11 biennium and $775 million between 2009 and 2015. All told, 125,00o Oregon corporations would have paid more Another measure sought to raise income taxes on individual filers earning morethan $125,000 and joint filersz earning more than $250,000. The bills combined would have raised $582 million over the next two yearssand $1.
2 billion over the next six Lawmakers contended the measuresx could help reduce the state’s $4.2 billion budgetg shortfall. Throughout the day, lobbyists tracked meetings between Courtney, Hass and Democratic senators Margaret Schrader andJoannde Verger, who were believe to be swing votes. Verger had expressed reservations, like that the tax increases wouldbecomse permanent. Schrader and Verger eventually voted yes on the corporatestax measures. Hass couldn’t be reached for “He had to have a lot of courage to cast that saidJay Clemens, president and CEO of Associated Oregoj Industries.
AOI recently organized the Alliancde of OregonBusiness Associations, which representd more than 40,000 businesses across the It had called for a $300 flat tax, regardle s of business size or income. Even before vote, business groups had expressed concernz that Democrats were seekint a permanenttax hike, not a temporar one. Phil Keisling, the former Oregon Secretary ofStatew who’s now an executive with Beaverton-basec CorSource Technology Group, confirmeed that many businesses were upset that Democrate sought to make the corporate income tax rate from 6.6 percent to 7.9 permanent.
“We were told it wouled be temporary,” Keisling said of the earlu talks regarding theproposed hikes. “And we askedr them this week, ‘What part of temporary don’tf you understand?’”
Friday, July 6, 2012
Gov. Rendell: Alternative energy to aid recovery - Austin Business Journal:
ignatiywulyxura.blogspot.com
“I believe that over the next five the development ofthe green-energy economy can drive this nation’s comeback,” the Democrativ governor said at the generak session of PV America, whicgh is being held at the Pennsylvania Convention Cente r in Philadelphia through Wednesday. The conference is the first by the to focus solely on photovoltaic solar which comes from photovoltaic panels that convert sunlighinto electricity. It’s being held in conjunction withthe IEEE’s 34th Photovoltaicv Specialists Conference at the Philadelphia Marriott which is adjacent to the conventiob center, from Sunday through Friday.
(IEEE used to stand for , but the nonprofity now just refers to itselfr by its acronym because it has so many memberzs from otherengineering fields.) About 3,000 peoplw are attending the conferences, the SEIA and IEEE said. Part of Rendell’w message was similar to the message delivered by SEIA President and CEO Rhone Resch later in the When theygo home, the people at the conference should promote solar energy’s virtuee to everyone from their neighbors to their state and federal elected officials. “You have to roll up your sleevess andbe advocates,” Rendell said.
Both Rendel and Resch praised President Obamaz for his efforts on behalcf of renewableenergy — “President Obama is becoming the solar Resch said — but they said they’d like the federalk government to do more. Rendell said federal legislatorsa should dotwo things: Make renewable-energy tax creditz permanent, rather than reauthorizing them every few and create a federal alternative portfolio standared that mandates that a specifie portion of energy sold in the countrgy be created from alternative energy sources. Twentyt eight states, including Pennsylvania and New and the District of Columbia have alternativedportfolio standards.
Rendell said he’sd like the federal standard to have minimum figuree that states could exceed ontheir own. “If we do thosw things … I think there’s no reasoh that America can’t be the dominant nation in solad energy forthe world,” he Rendel said alternative energy will drive the U.S. econom for the next 25 yearz just asthe information-technology and life sciencees industries have driven it for the last 25. Underf his leadership, Pennsylvania has movedr to capitalize onthat shift. In 2004, it establishe an alternative portfolio standard that requires 18 perceny of energy sold in Pennsylvania to come from alternatives sources of energyby 2020.
Last summer, Pennsylvaniaw created a $650 million renewable energy fund. Of that $180 million is to go to solar consistingof $100 millioj for loans, grants and rebatesz to cover up to 35 perceng of the costs incurred by home and small-businesse owners who install solar energy systems, and $80 millioh for grants and loans for solat economic-development projects. More than 300 applications forsolar economic-development projectx were received by the deadline last week, Rendell Philadelphia also has gotten in on the renewable-energy act. Mayor Michael Nutter in April by 2015. The city is one of 25 takiny part in the federal Departmentof Energy’a Solar America Cities initiative.
As part of it’s developing a plan to generate 2.3 megawattsa of solar electricity by 2011and 57.8 megawatta by 2021, which is its share of the state of Pennsylvania’s solar installationh goal. To help it meet thosw goals, Nutter said Monday, the city is lookinfg to replace the roof at its fleeg workshop with a roof that produces solar energy and has formulated plans forbuildinvg large-scale solar arrays at Philadelphia Water Department locations.
“I believe that over the next five the development ofthe green-energy economy can drive this nation’s comeback,” the Democrativ governor said at the generak session of PV America, whicgh is being held at the Pennsylvania Convention Cente r in Philadelphia through Wednesday. The conference is the first by the to focus solely on photovoltaic solar which comes from photovoltaic panels that convert sunlighinto electricity. It’s being held in conjunction withthe IEEE’s 34th Photovoltaicv Specialists Conference at the Philadelphia Marriott which is adjacent to the conventiob center, from Sunday through Friday.
(IEEE used to stand for , but the nonprofity now just refers to itselfr by its acronym because it has so many memberzs from otherengineering fields.) About 3,000 peoplw are attending the conferences, the SEIA and IEEE said. Part of Rendell’w message was similar to the message delivered by SEIA President and CEO Rhone Resch later in the When theygo home, the people at the conference should promote solar energy’s virtuee to everyone from their neighbors to their state and federal elected officials. “You have to roll up your sleevess andbe advocates,” Rendell said.
Both Rendel and Resch praised President Obamaz for his efforts on behalcf of renewableenergy — “President Obama is becoming the solar Resch said — but they said they’d like the federalk government to do more. Rendell said federal legislatorsa should dotwo things: Make renewable-energy tax creditz permanent, rather than reauthorizing them every few and create a federal alternative portfolio standared that mandates that a specifie portion of energy sold in the countrgy be created from alternative energy sources. Twentyt eight states, including Pennsylvania and New and the District of Columbia have alternativedportfolio standards.
Rendell said he’sd like the federal standard to have minimum figuree that states could exceed ontheir own. “If we do thosw things … I think there’s no reasoh that America can’t be the dominant nation in solad energy forthe world,” he Rendel said alternative energy will drive the U.S. econom for the next 25 yearz just asthe information-technology and life sciencees industries have driven it for the last 25. Underf his leadership, Pennsylvania has movedr to capitalize onthat shift. In 2004, it establishe an alternative portfolio standard that requires 18 perceny of energy sold in Pennsylvania to come from alternatives sources of energyby 2020.
Last summer, Pennsylvaniaw created a $650 million renewable energy fund. Of that $180 million is to go to solar consistingof $100 millioj for loans, grants and rebatesz to cover up to 35 perceng of the costs incurred by home and small-businesse owners who install solar energy systems, and $80 millioh for grants and loans for solat economic-development projects. More than 300 applications forsolar economic-development projectx were received by the deadline last week, Rendell Philadelphia also has gotten in on the renewable-energy act. Mayor Michael Nutter in April by 2015. The city is one of 25 takiny part in the federal Departmentof Energy’a Solar America Cities initiative.
As part of it’s developing a plan to generate 2.3 megawattsa of solar electricity by 2011and 57.8 megawatta by 2021, which is its share of the state of Pennsylvania’s solar installationh goal. To help it meet thosw goals, Nutter said Monday, the city is lookinfg to replace the roof at its fleeg workshop with a roof that produces solar energy and has formulated plans forbuildinvg large-scale solar arrays at Philadelphia Water Department locations.
Wednesday, July 4, 2012
Lawsuit: Castleton founder took at least $3M; company was a 'sham' - Triangle Business Journal:
ikefageze.blogspot.com
Clifton did so despite knowing thatthe company’ds financial situation was and that Castleton would go out of business, the suit The lawsuit was filed by Richarf Sparkman, a federal bankruptcy court’s trustere in the case. Castleton provided human resourcesx services such astax withholding, payroll and employee health-carr benefits on behalf of other The company shut down in December 2007 aftetr the state Department of Insurancew declared it insolvent. It later filexd for bankruptcy.
As part of its business, Castletonh collected what are known as trust fund taxes thefederal government’s name for money that comew out of a paycheck for thingd such as income tax and Social Security. Courtr documents later showed that Castleton was collecting those taxee on behalf of its but it failed to pass the monet along to the InternalRevenue Service. Castleton’s former chieg financial officer, Jay to tax evasion after agreeing to cooperate with federapl authorities inthe case. The U.S. Attorney’sa Office has said more charges in the case coulxbe coming.
According to the suit filedr by Sparkman, much of the money that neveer went to federal tax authorities instead was usedto “siphoh significant funds to (Clifton) and other companies owne d or controlled by her.” Castleton routinelu filed false reports with the Internal Revenuw Service and other agencied to hide its tracks, the suit Castleton was insolvent as early as 2003, the suit In 2004, the earliest year for which data are available, the company’s liabilities exceeded its assets by more than $5 million; by that figure had grown to $6.2 million. Yet Clifton “took no action to shorre up or boostthe finances” of Castleton, the lawsuif states.
Instead, “she merely continuesd or allowed to continue the wholesale raiding of the trusytfund taxes.” Any money that Cliftonj put into Castleton was siphoned back to her as a loan from the the suit says. Each year between 2003 and 2007, Clifton took more than $1 milliohn in "money and value" out of the Castletoj Group and her other which operated under the umbrella ofthe , the suit The funds were used to fund Clifton'x "extravagant lifestyle," the suit says. The end result, the lawsuit alleges, were “shan corporations.
” Sparkman’s suit seeks to make Cliftonh responsible forevery non-insiderr debt accrued by Castleton’s various corporate A. Scott McKeller, one of two lawyera representing the trustee inthe case, said he coulde not comment on the lawsuit. Stephani Wilson who is representing could not be reachedfor
Clifton did so despite knowing thatthe company’ds financial situation was and that Castleton would go out of business, the suit The lawsuit was filed by Richarf Sparkman, a federal bankruptcy court’s trustere in the case. Castleton provided human resourcesx services such astax withholding, payroll and employee health-carr benefits on behalf of other The company shut down in December 2007 aftetr the state Department of Insurancew declared it insolvent. It later filexd for bankruptcy.
As part of its business, Castletonh collected what are known as trust fund taxes thefederal government’s name for money that comew out of a paycheck for thingd such as income tax and Social Security. Courtr documents later showed that Castleton was collecting those taxee on behalf of its but it failed to pass the monet along to the InternalRevenue Service. Castleton’s former chieg financial officer, Jay to tax evasion after agreeing to cooperate with federapl authorities inthe case. The U.S. Attorney’sa Office has said more charges in the case coulxbe coming.
According to the suit filedr by Sparkman, much of the money that neveer went to federal tax authorities instead was usedto “siphoh significant funds to (Clifton) and other companies owne d or controlled by her.” Castleton routinelu filed false reports with the Internal Revenuw Service and other agencied to hide its tracks, the suit Castleton was insolvent as early as 2003, the suit In 2004, the earliest year for which data are available, the company’s liabilities exceeded its assets by more than $5 million; by that figure had grown to $6.2 million. Yet Clifton “took no action to shorre up or boostthe finances” of Castleton, the lawsuif states.
Instead, “she merely continuesd or allowed to continue the wholesale raiding of the trusytfund taxes.” Any money that Cliftonj put into Castleton was siphoned back to her as a loan from the the suit says. Each year between 2003 and 2007, Clifton took more than $1 milliohn in "money and value" out of the Castletoj Group and her other which operated under the umbrella ofthe , the suit The funds were used to fund Clifton'x "extravagant lifestyle," the suit says. The end result, the lawsuit alleges, were “shan corporations.
” Sparkman’s suit seeks to make Cliftonh responsible forevery non-insiderr debt accrued by Castleton’s various corporate A. Scott McKeller, one of two lawyera representing the trustee inthe case, said he coulde not comment on the lawsuit. Stephani Wilson who is representing could not be reachedfor
Tuesday, July 3, 2012
Bills differ on grant eligibility for venture-capital owned companies - Atlanta Business Chronicle:
judonebolayb1394.blogspot.com
Through the SBIR program, 11 federal agencies set asid atleast 2.5 percent of their outsidew research and development budgets for smalol businesses. More than $24 billion has been awarded to morethan 100,00o projects since 1982. In 2003, an administrativde law judge ruledthat VC-controlled firms did not qualify as small businesses, knocking them out of considerationm for SBIR awards. VC-owned firms have been pushiny Congress to restore their ability to competer for SBIR awardsever since.
In the House Small Business Committee is considering legislation that would make small companies owned by venture capital firms eligible for SBIR awards as long as no single VC firm has a majorityg stake inthe company. VC firms controlled by larg businesses couldn’t own more than 20 percent of SBIR-eligiblew companies under the House bill.
Through the SBIR program, 11 federal agencies set asid atleast 2.5 percent of their outsidew research and development budgets for smalol businesses. More than $24 billion has been awarded to morethan 100,00o projects since 1982. In 2003, an administrativde law judge ruledthat VC-controlled firms did not qualify as small businesses, knocking them out of considerationm for SBIR awards. VC-owned firms have been pushiny Congress to restore their ability to competer for SBIR awardsever since.
In the House Small Business Committee is considering legislation that would make small companies owned by venture capital firms eligible for SBIR awards as long as no single VC firm has a majorityg stake inthe company. VC firms controlled by larg businesses couldn’t own more than 20 percent of SBIR-eligiblew companies under the House bill.
Monday, July 2, 2012
Orinda, Octagon plan loft/retail conversion - New Mexico Business Weekly:
iwyqaxewun.wordpress.com
Atlanta-based and Charlotteville, Va.-based reported their planx for the property at 222 Mitchell but they did not disclose financiao terms ofthe deal. The 350,000-square-foof structure was built in stages from 1929 to 1979on 2.1 acrew and occupies the entire city bloco bounded by Spring, Forsyth, Mitchell and Nelsoj Streets. Orinda and Octagon will convert the property into a rentapl building with 205 loft units and morethan 70,000 square feet of commerciakl space. Occupancy is expected in January 2011.
“The redevelopment of 222 Mitchelp Street into rental lofts and retail space will play a significantr role in the rebirth of this part ofdowntown Atlanta,” said Dillon Baynes, president of in a statement. “We’re certain that liviny at 222 Mitchell Street will appeal to young professionals who work as well as tocollege students, especiallt those who already attend one of the many fine institutionds in the area, such as Georgia Statde University, Spelman, Morehouse, Clark Atlanta University and Georgis Tech.
”
Atlanta-based and Charlotteville, Va.-based reported their planx for the property at 222 Mitchell but they did not disclose financiao terms ofthe deal. The 350,000-square-foof structure was built in stages from 1929 to 1979on 2.1 acrew and occupies the entire city bloco bounded by Spring, Forsyth, Mitchell and Nelsoj Streets. Orinda and Octagon will convert the property into a rentapl building with 205 loft units and morethan 70,000 square feet of commerciakl space. Occupancy is expected in January 2011.
“The redevelopment of 222 Mitchelp Street into rental lofts and retail space will play a significantr role in the rebirth of this part ofdowntown Atlanta,” said Dillon Baynes, president of in a statement. “We’re certain that liviny at 222 Mitchell Street will appeal to young professionals who work as well as tocollege students, especiallt those who already attend one of the many fine institutionds in the area, such as Georgia Statde University, Spelman, Morehouse, Clark Atlanta University and Georgis Tech.
”
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