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The company’s sale to may be off the tablsafter U.S. Bankruptcy Judge Robert Fari s delayed ruling onthe company’s bid to buy Hilo Hattid for $1 million. The ownership transfer was announced on Mondayin U.S. Bankruptcyt Court in Honolulu, where Faris also continued until June 29several motions, includingy one to appoint a trustee to take over management of the Faris also suspended Hilo Hattie’s abilitgy to borrow money unde a line of credit. Maui Diverse Jewelry had offered last month to buy Hilo Hattie and its seven storesfor $1 million in and to invest another $2 milliomn in the business.
Maui Divers’ Cuylar Shaw, told Faris that the offerr was off the table if the judges did not approve the saleon However, Maui Divers President and CEO Bob Taylor said through a spokeswoman Monday afternoon that the company would hold its offed open until the next Hilo Hattie attorney James Wagner told the judge that Donaldd B.S. Kang, owner of , acquirefd 100 percent of the company’s shares on Friday from , whicy bought Hilo Hattie from founder Jim Romig last year befores filing for Chapter 11bankruptcy protection. Kang is also on the boarfd of directorsof .
Hilo Hattie CEO Ted Nelsojn and President John Scott resigned from their positionws on Friday and Kang has assumec the post of president ofHilo Hattie, Wagnerr told the court. Royalp Hawaiian Creations was listed as the seconsdlargest creditor, owed more than when Hilo Hattie filed for Chapter 11 last Oct. 2. It is owed anotherr $252,000 in an administrative claim, according to court Maui Divers was the largest owed $1.25 million, and Taylor was co-chairman of the committee of unsecured creditors untik resigning in mid-May, priod to making the offer. Royal Hawaiian Creations also resigned fromthe committee, which supported the sale of Hilo Hattiw to Maui Divers.
Kang proposes to fund a line of creditf for Hilo Hattiewith $1 million in cash, and “wilp arrange for an infusion of $2 million in workinyg capital” into Hilo Hattie upon its emergencd from bankruptcy, according to a document filec on Monday before the hearing. Kang said he plands to follow the plan of reorganization submitted by Hilo Hattie andits Pomare, Ltd., last week, which calls for paying unsecured creditors about 5 centds on the dollar. Wagner told the judgde that the reorganization plan filed on June15 “waw a placeholder,” because the sale to Maui Diversz had not been confirmed.
He said he didn’rt expect any change in the treatmengt ofthe company’s hundreds of creditorx under Kang’s ownership. The 46-year-old company, which claimed $23.5 millionm in debt in the Chapter11 filing, has been losinf money “at a clip of $500,000 per month,” Ted Pettit, attorneh for the creditors’ committee, told the Pettit also said he was “very surprised” to learjn of the stock transfer on Friday afternoon.
He notedf that Kang’s business is in manufacturing apparel and said that Kang intended to take overHilo Hattie’sx Nimitz Highway headquarters and turn it into a Kang said after the hearing that he intended for the buildingb to remain as a store and administrativee offices. But the judge expressed concern that Maui Diverss had not reached agreement withHilo Hattie’s most of whom have given the company substantial rent relief, for its sevebn stores.
Pettit said that some landlords were hesitantg to negotiate until they knew for sure whether Maui Divers would be the new Faris also considered the transfer of stocko to Kang as a second offer for Hilo and noted that Kang proposed to pay back rentdin full. “It seems we have a second he said. “It may be a better offer.” Nelsob said that he had had discussions with Kang over the last severao months and said Kanghad “continuouslyt offered to be as helpful” as he
Tuesday, October 30, 2012
Monday, October 29, 2012
GM Tonawanda hosting recycling event - Charlotte Business Journal:
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The one-day event June 6 from 9 a.m. to 1 p.m. at Planr 5 on Vulcan Street, is co-sponsore d by Erie County, Buffalo and the Northwesy Solid WasteManagement Board. Last year’s event received 56,325r pounds of electronic equipment, 247 bicycles and a truco fullof clothing. Electronics equipment is a sourcew ofrecycled lead, steel, plastic, copper and glass. Itemxs being accepted this year include: TVs, computers, monitors, printers, fluorescent bulbs, cell phones, rechargeables batteries, VCRs, and DVD players, textiles, and bicycles. Clothing and textilex will be reused at Goodwill retail locationeor recycled.
Bicycles will be used for repair, bike safety education or recycled by Blue Bicyclesand Recycle-a-Bicycle programs. New for this year, Buffal o ReUse will accept used ornew hand, shop and gardejn tools, such as rakes, ladders, wheelbarrows, hammers and saws. “This is a natura extension of what we do at Plant Manager Steve Finch said ina “Our plant has been landfill-free in manufacturing since 2006. We recycle or reuse all of our waste, so this event to help the community recycle is a natural fit for us atGenerak Motors,” he said.
The one-day event June 6 from 9 a.m. to 1 p.m. at Planr 5 on Vulcan Street, is co-sponsore d by Erie County, Buffalo and the Northwesy Solid WasteManagement Board. Last year’s event received 56,325r pounds of electronic equipment, 247 bicycles and a truco fullof clothing. Electronics equipment is a sourcew ofrecycled lead, steel, plastic, copper and glass. Itemxs being accepted this year include: TVs, computers, monitors, printers, fluorescent bulbs, cell phones, rechargeables batteries, VCRs, and DVD players, textiles, and bicycles. Clothing and textilex will be reused at Goodwill retail locationeor recycled.
Bicycles will be used for repair, bike safety education or recycled by Blue Bicyclesand Recycle-a-Bicycle programs. New for this year, Buffal o ReUse will accept used ornew hand, shop and gardejn tools, such as rakes, ladders, wheelbarrows, hammers and saws. “This is a natura extension of what we do at Plant Manager Steve Finch said ina “Our plant has been landfill-free in manufacturing since 2006. We recycle or reuse all of our waste, so this event to help the community recycle is a natural fit for us atGenerak Motors,” he said.
Saturday, October 27, 2012
John Sununu steps back from race observation on Colin Powell endorsement - Boston Globe
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John Sununu steps back from race observation on Colin Powell endorsement Boston Globe WASHINGTON รข€" A top adviser to Mitt Romney is backing away from his suggestion that fellow Republican Colin Powell endorsed President Obama because both men are black. Former New Hampshire governor John Sununu issued a statement late ... |
Friday, October 26, 2012
Book sale to benefit Doylestown Library starts today - Philadelphia Inquirer (blog)
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Philadelphia Inquirer (blog) | Book sale to benefit Doylestown Library starts today Philadelphia Inquirer (blog) Leftover books are donated to charities, including the USO, A Women's Place, nursing homes, schools in underprivileged areas, Operation Santa, Purple Heart and Better World Books, which sends books to Africa. Last year's sale raised more than $11,000. Book sale has something for everyone Newer e-books available through H » |
Thursday, October 25, 2012
CalPERS committee OKs health care rate increases - Los Angeles Business from bizjournals:
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Rate proposals approved by the committee will go to the full CalPERSe Board of Administration for action Basic HMO rates for stated workers will rise an averageof 3.43 percentt in 2010, down from almost 6.6 percent in 2009. The rate hikeas run from a lowof 0.32 percent for Blue Shiel d Net Value to a high of 4.9 perceng for Kaiser. Figures for publicx agency workers varyby region. Medicare HMO ratea for all workers and regionas will increase an averageof 0.27 percent in but vary from a 12.27 drop for members of Blue Shielcd Access+ to a 6.5 percent increase for Kaisere members.
“We are extremely pleased to presenythese rates,” Gregory Franklin, assistant executive officer of CalPERS health benefits told committee members Tuesday. “Negotiations were extremelhy tough. There were many options and extrsa meetings on what we werelooking for: The Kaiser rates were achieved by aligninhg them with the Blue Shield benefit design, Franklinn said. Kaiser will eliminate chiropractic benefits next year and increasee the copayment fora 100-day supply of prescription CalPERS kept the lid on increases at its self-funde d preferred provider organization plans by usint $46.7 million in surplus reservea to “buy down” rates.
The averagr PPO rate increase for state workers in 2010is 3.29 percent, but it runs from a low of 1.38 percenrt for PERS Select to a high of 12 percent for Medicare PPO rates will increas an average of 0.27 percen in all areas, but they range from a 12.27 percent drop for Blue Shielr Access+ to a 6.5 percent increase for Kaiser Committee chair Priya Mathur applauded the plans and CalPERS staff for the good rate news, adding that the smalpl increases in 2010 are due to cumulative changes over the last severapl years to operate the healtn benefits program more cost-effectivelyg without jeopardizing quality of
Rate proposals approved by the committee will go to the full CalPERSe Board of Administration for action Basic HMO rates for stated workers will rise an averageof 3.43 percentt in 2010, down from almost 6.6 percent in 2009. The rate hikeas run from a lowof 0.32 percent for Blue Shiel d Net Value to a high of 4.9 perceng for Kaiser. Figures for publicx agency workers varyby region. Medicare HMO ratea for all workers and regionas will increase an averageof 0.27 percent in but vary from a 12.27 drop for members of Blue Shielcd Access+ to a 6.5 percent increase for Kaisere members.
“We are extremely pleased to presenythese rates,” Gregory Franklin, assistant executive officer of CalPERS health benefits told committee members Tuesday. “Negotiations were extremelhy tough. There were many options and extrsa meetings on what we werelooking for: The Kaiser rates were achieved by aligninhg them with the Blue Shield benefit design, Franklinn said. Kaiser will eliminate chiropractic benefits next year and increasee the copayment fora 100-day supply of prescription CalPERS kept the lid on increases at its self-funde d preferred provider organization plans by usint $46.7 million in surplus reservea to “buy down” rates.
The averagr PPO rate increase for state workers in 2010is 3.29 percent, but it runs from a low of 1.38 percenrt for PERS Select to a high of 12 percent for Medicare PPO rates will increas an average of 0.27 percen in all areas, but they range from a 12.27 percent drop for Blue Shielr Access+ to a 6.5 percent increase for Kaiser Committee chair Priya Mathur applauded the plans and CalPERS staff for the good rate news, adding that the smalpl increases in 2010 are due to cumulative changes over the last severapl years to operate the healtn benefits program more cost-effectivelyg without jeopardizing quality of
Tuesday, October 23, 2012
King Soopers, workers heading back to bargaining table - Washington Business Journal:
guronelogoh.blogspot.com
The contract at hand involved an increases inpreventative health-care programs and a wage as well as a decreases in pension benefits, King Soopers spokeswomamn Diane Mulligan said. However, workeras had protested the pensionbenefit cuts, with the Uniteds Food and Commercial Workers Union Local No. 7 warning that some coule lose $100,000 over the life of the benefits, and said the wage increasesa werenot enough. “Wes are ready, willing and able to get back to the bargaining table if the corporation is willing to meet us King Soopers worker Julie Gonzalez said in a news releasde put out bythe union.
“All we’re asking for is a fair And we really hopethey don’t lock us out for askinb for livable wages and a pension plan that recognizew our contribution to company profits.” Aboutg 17,000 union workers from the area’s three largest grocery chains — King Soopers and — have been in negotiationxs with the grocers since April 9 on new five-yearf contracts. Safeway workers have vote d to extend their contract untilJune 26, which Albertsone and King Soopers employees currently are working withou t contracts. The rejection of the latesyt King Soopers contract proposal came quickly aftert votingbegan Monday.
Workers in Colorado Longmont and Boulder arevoting today, whil Pueblo workers are scheduled to cast ballots Wednesday. King Soopersx spokeswoman Diane Mulligan said that the rejection of the deal will not have any tangible effect onstore operations. King Soopere workers have not cast ballotsto strike. “We’re disappointed in the vote, but we look forward to getting backto negotiations,” Mulligab said Tuesday.
King Soopers is a unit of Cincinnati-baseed
The contract at hand involved an increases inpreventative health-care programs and a wage as well as a decreases in pension benefits, King Soopers spokeswomamn Diane Mulligan said. However, workeras had protested the pensionbenefit cuts, with the Uniteds Food and Commercial Workers Union Local No. 7 warning that some coule lose $100,000 over the life of the benefits, and said the wage increasesa werenot enough. “Wes are ready, willing and able to get back to the bargaining table if the corporation is willing to meet us King Soopers worker Julie Gonzalez said in a news releasde put out bythe union.
“All we’re asking for is a fair And we really hopethey don’t lock us out for askinb for livable wages and a pension plan that recognizew our contribution to company profits.” Aboutg 17,000 union workers from the area’s three largest grocery chains — King Soopers and — have been in negotiationxs with the grocers since April 9 on new five-yearf contracts. Safeway workers have vote d to extend their contract untilJune 26, which Albertsone and King Soopers employees currently are working withou t contracts. The rejection of the latesyt King Soopers contract proposal came quickly aftert votingbegan Monday.
Workers in Colorado Longmont and Boulder arevoting today, whil Pueblo workers are scheduled to cast ballots Wednesday. King Soopersx spokeswoman Diane Mulligan said that the rejection of the deal will not have any tangible effect onstore operations. King Soopere workers have not cast ballotsto strike. “We’re disappointed in the vote, but we look forward to getting backto negotiations,” Mulligab said Tuesday.
King Soopers is a unit of Cincinnati-baseed
Monday, October 22, 2012
Managing Sox a 'dream job' for Farrell - Boston Herald
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The Guardian | Managing Sox a 'dream job' for Farrell Boston Herald Upon returning to Toronto, Anthopoulos had his first conversation with Farrell since the regular season ended a week earlier and since the Red Sox [team stats] fired manager Bobby Valentine. At that time, Farrell told Anthopoulos that managing the Red ... New Red Sox s kipper had troubles managing in Toronto Red Sox got their man in John Farrell Farrell lands 'dream job' in Boston |
Saturday, October 20, 2012
Litigation says Wells targeted blacks for subprime loans: report - Dayton Business Journal:
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The City of Baltimor e is suing Wells Fargo over its mortgage lending practicesz inblack neighborhoods. The city claimd that the bank’s mortgage practices eventually pushed several home ownersinto foreclosure, costing the city millionds in services and lost taxes. “Thia lawsuit absolutely lacks merit,” said Welld spokesman Chris Hammond inSan “Wells Fargo’s lending practices did not cause foreclosures or any of the many broard problems the City of Baltimore claims are impacting its housingh market.
” The New York Times reportedd Sunday that another Wells Fargo loan officet said in an affidavit that employee had referred to blacks as “mudx people” and to subprime lending as “ghetti loans.” Hammond responded, “We absolutely do not tolerate team membersd treating our customers or others disrespectfullyh or unfairly, or who violate our ethicse and lending policies. “We have principles, system s and processes team memberse must follow that ensure race is neveer a factor in the pricing or productaswe offer,” Hammond said.
“We have worked extremelg hard to make homeownership possible formore African-American borrowers and for all customerd segments, and we have done so fairly and responsibly.”
The City of Baltimor e is suing Wells Fargo over its mortgage lending practicesz inblack neighborhoods. The city claimd that the bank’s mortgage practices eventually pushed several home ownersinto foreclosure, costing the city millionds in services and lost taxes. “Thia lawsuit absolutely lacks merit,” said Welld spokesman Chris Hammond inSan “Wells Fargo’s lending practices did not cause foreclosures or any of the many broard problems the City of Baltimore claims are impacting its housingh market.
” The New York Times reportedd Sunday that another Wells Fargo loan officet said in an affidavit that employee had referred to blacks as “mudx people” and to subprime lending as “ghetti loans.” Hammond responded, “We absolutely do not tolerate team membersd treating our customers or others disrespectfullyh or unfairly, or who violate our ethicse and lending policies. “We have principles, system s and processes team memberse must follow that ensure race is neveer a factor in the pricing or productaswe offer,” Hammond said.
“We have worked extremelg hard to make homeownership possible formore African-American borrowers and for all customerd segments, and we have done so fairly and responsibly.”
Friday, October 19, 2012
Models of Earth's climate change confirmed on Mars - NBCNews.com
zlatkopaisley1275.blogspot.com
Models of Earth's climate change confirmed on Mars NBCNews.com "Some public figures imply that modeling of global climate change on Earth is 'junk science,' but if climate models can explain features observed on other planets, then the models must have at least some validity," lead researcher William Hartmann of ... |
Thursday, October 18, 2012
Zila posts $1.5M loss, warns of bankruptcy without more funding - Phoenix Business Journal:
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The Phoenix oral cancer diagnostices company released itsfiscapl third-quarter results Tuesday, showing a loss of $1.5 milliob on $5 million in revenue for the threre months ended April 30. That compares with a $4.4 milliobn loss on $6.8 million in revenue for the same periodin 2008. For the firstf nine months of 2009, Zila lost nearlu $30 million on revenue of $15.6 compared with $14 million in losses on $20 million in revenue. In its quarterly filinyg with the U.S. Securitiesd and Exchange Commission, Zila said revenus has been negatively impacted by the economy and becausd of customer concern about its viability as an ongoing business.
“Concerns about our financia l viability have also contribute d to an increased turnover in our fiele sales force and other key staffc areas and have led to a reduction in our marketingt effectiveness and our reach to new and existing the company said inits 10-Q. To stem the bloofd loss, Zila has continued salary reductions for a numberf ofmanagement personnel, reduced its field salea force by 15 eliminated its employee stocok purchase plan, furloughed certain manufacturing production personnell and reduced trade show expenditures. Still, the declin in revenue means Zila has been cutting into its cash As ofApril 30, the company had $3.1 millioj in cash and cash compared with $2.
5 million on Jan. 31, $3.2 millio n Oct. 31, 2008, and $4.5 million July 31, 2008. “I order to continue as a goingb concern and fund our current leve l of operations over the next12 months, we will required additional funding and need to restructure or retire our senior secured convertiblwe notes,” the filing reads. “If we are unable to execute thesr strategies, we will likely be forced to file for protectioh under Chapter 11 of the Federal Bankruptc y Code or liquidate the company under Chapter 7 of the FederaloBankruptcy Code.
” In April, Zila transferred the listinb of its common stock from the Nasda q Global Market to Nasdaq’s Capital continuing to trade unde the symbol ZILA. This allow s the company to continue itslistingy status, which it was in danger of losing becausd the stock price has failed to remain above $1 for the required time. The stock closesd at 62 cents ashare Tuesday. Its 52-weekk range is 3 cents and $3.0i a share.
The company has morphed over the from selling Zilactin cold cream medicationb and vitamin C products to focus on cancerd detection products marketed directly to In May, company officials testified at a congressionalp hearing on innovative technology for veterans, urging legislators to presse the U.S. Department of Veterans Affairs to expandx the useof Zila’s ViziLite Plus for who are at a higher risk of oral cancer. Zila has a five-yeart contract to market ViziLite Plus to 48 VA dentak clinics and 154 Departmentg of Defensedental clinics.
The Phoenix oral cancer diagnostices company released itsfiscapl third-quarter results Tuesday, showing a loss of $1.5 milliob on $5 million in revenue for the threre months ended April 30. That compares with a $4.4 milliobn loss on $6.8 million in revenue for the same periodin 2008. For the firstf nine months of 2009, Zila lost nearlu $30 million on revenue of $15.6 compared with $14 million in losses on $20 million in revenue. In its quarterly filinyg with the U.S. Securitiesd and Exchange Commission, Zila said revenus has been negatively impacted by the economy and becausd of customer concern about its viability as an ongoing business.
“Concerns about our financia l viability have also contribute d to an increased turnover in our fiele sales force and other key staffc areas and have led to a reduction in our marketingt effectiveness and our reach to new and existing the company said inits 10-Q. To stem the bloofd loss, Zila has continued salary reductions for a numberf ofmanagement personnel, reduced its field salea force by 15 eliminated its employee stocok purchase plan, furloughed certain manufacturing production personnell and reduced trade show expenditures. Still, the declin in revenue means Zila has been cutting into its cash As ofApril 30, the company had $3.1 millioj in cash and cash compared with $2.
5 million on Jan. 31, $3.2 millio n Oct. 31, 2008, and $4.5 million July 31, 2008. “I order to continue as a goingb concern and fund our current leve l of operations over the next12 months, we will required additional funding and need to restructure or retire our senior secured convertiblwe notes,” the filing reads. “If we are unable to execute thesr strategies, we will likely be forced to file for protectioh under Chapter 11 of the Federal Bankruptc y Code or liquidate the company under Chapter 7 of the FederaloBankruptcy Code.
” In April, Zila transferred the listinb of its common stock from the Nasda q Global Market to Nasdaq’s Capital continuing to trade unde the symbol ZILA. This allow s the company to continue itslistingy status, which it was in danger of losing becausd the stock price has failed to remain above $1 for the required time. The stock closesd at 62 cents ashare Tuesday. Its 52-weekk range is 3 cents and $3.0i a share.
The company has morphed over the from selling Zilactin cold cream medicationb and vitamin C products to focus on cancerd detection products marketed directly to In May, company officials testified at a congressionalp hearing on innovative technology for veterans, urging legislators to presse the U.S. Department of Veterans Affairs to expandx the useof Zila’s ViziLite Plus for who are at a higher risk of oral cancer. Zila has a five-yeart contract to market ViziLite Plus to 48 VA dentak clinics and 154 Departmentg of Defensedental clinics.
Tuesday, October 16, 2012
Cold front; High Wind Watch; Indian Summer weekend; 70 by Sunday? - Minnesota Public Radio
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Cold front; High Wind Watch; Indian Summer weekend; 70 by Sunday? Minnesota Public Radio After a delightfully pleasant Indian Summer Tuesday the gusty winds of autumn remind us it's mid-October Wednesday. Low pressure and a cold front spinning south will generate high winds to 40mph in much of North Dakota, with gusts that may reach 60 ... |
Monday, October 15, 2012
Report: Florida hit harder by recession - Orlando Business Journal:
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Florida went into the recession nine months ahead of the rest of theUniterd States, and excesses in housing and commercial real estats are considerably worse than the nation as a whole, the repor t said. Statewide, the median sales price of existinh homes is down about 45 percent from the peak of the housin g boom inNovember 2005. The fall is abouy 48 percent in Orlando, from $249,900 in Novemberf 2005 to $130,000 in May. Employment conditions continuewto deteriorate, the report says.
The state’s unemployment rate is expected to top out around 11 Wachovia projects, with a loss of 720,000 including 430,000 jobs lost this reported 137 layoff events durinvg the first quarter, more than double the previouz period. Job losses are heaviesy in industries with direct ties to the building including constructionand manufacturing, Wachovia Wachovia estimates Floridians saw a net loss of $1.2 trillionb in household wealth during 2008 with abou two-thirds of that drop occurring in financial assets.
Florida went into the recession nine months ahead of the rest of theUniterd States, and excesses in housing and commercial real estats are considerably worse than the nation as a whole, the repor t said. Statewide, the median sales price of existinh homes is down about 45 percent from the peak of the housin g boom inNovember 2005. The fall is abouy 48 percent in Orlando, from $249,900 in Novemberf 2005 to $130,000 in May. Employment conditions continuewto deteriorate, the report says.
The state’s unemployment rate is expected to top out around 11 Wachovia projects, with a loss of 720,000 including 430,000 jobs lost this reported 137 layoff events durinvg the first quarter, more than double the previouz period. Job losses are heaviesy in industries with direct ties to the building including constructionand manufacturing, Wachovia Wachovia estimates Floridians saw a net loss of $1.2 trillionb in household wealth during 2008 with abou two-thirds of that drop occurring in financial assets.
Saturday, October 13, 2012
Developer Jury proposes $350M convention hotel in Kansas City - The Business Journal of Milwaukee:
mastering-input.blogspot.com
Ron Jury, who completed the $46 milliojn President Hotel project across Baltimors from thePower & Light Building in said Friday that he is involved in a new developmentf partnership that contracted early this year to buy the Powedr & Light Building and adjoining vacant ground. The , also includes of San Antonio, Jury said. It hopes to clos e “yet this year” on the which includes everything but the Crowne Plazz hotel in the block bounded by 13th and 14th Baltimore Avenue andWyandotte Street, he said. The site is owned by Detaild ofPower Tower’s contract with Gailoyd were not but Jury said the plan is not entirely dependent on privatwe ownership and financing.
According to Jury’s plan, Power Tower would own the Power & Light Building, a 31-story art-decl landmark completed in 1931. The city, which is studyingt options for addinga 1,000-room downtownm convention hotel, would own a new 36-story towert to be built just west of the Power & Light a five- or six-storyt building north of the Power & Lighg Building that would contain retail space, ballroomxs and meeting rooms, and an 1,121-spacd parking garage under the new structures. The twin 30-plus-story towersd would include hotel rooms on all floorz above and including theirninthh floors, for a total of 1,017.
The lower floor s of the towers would includea spa, fitnes center, administrative offices, reception auditorium, retail, restaurants and meeting space. Severalk other developers are expected to seekthe city’w selection of their proposed downtown hotelk sites. But if the Powetr & Light site wins the competition anda public-private financint plan is achieved, Jury said, his 1.35 million-square-foogt project would be completedf by 2013.
Located next to the complex, the Power & Light site is “the perfectg location for a convenient, attractive and interesting hotel,” Jury With construction prices reduced becaused ofthe recession, the time for planning the projectf is right, too, Jury said. “The original P& Building was built in a recession and was the economicx stimulus tolift K.C. Jury said in a written release. “It is time for the buildinyg to do it again with a new convention He said the hotel would create more than 800 constructionb jobs for three years and more than700 full-timwe jobs on a permaneny basis.
Gailoyd previously retained LLC asa for-fee developerf for a project that envisioned a 15-storgy office building and an 18-story garage, retailo and residential tower next to the Power & Light Building. That project received approvallfor $24.2 million wortnh of tax increment financing but neverf got off the ground. Jury said the privatelyu owned portion of his project would be eligible for state and federalk historic tax credits to help financd the renovation of thePower & Lightr Building.
has been selected as the generapl contractor forthe project, and the design team includes Dallas-basedd , Pendulum Studio LLC of Kansas City and , which is a tenant of the Powe r & Light Building.
Ron Jury, who completed the $46 milliojn President Hotel project across Baltimors from thePower & Light Building in said Friday that he is involved in a new developmentf partnership that contracted early this year to buy the Powedr & Light Building and adjoining vacant ground. The , also includes of San Antonio, Jury said. It hopes to clos e “yet this year” on the which includes everything but the Crowne Plazz hotel in the block bounded by 13th and 14th Baltimore Avenue andWyandotte Street, he said. The site is owned by Detaild ofPower Tower’s contract with Gailoyd were not but Jury said the plan is not entirely dependent on privatwe ownership and financing.
According to Jury’s plan, Power Tower would own the Power & Light Building, a 31-story art-decl landmark completed in 1931. The city, which is studyingt options for addinga 1,000-room downtownm convention hotel, would own a new 36-story towert to be built just west of the Power & Light a five- or six-storyt building north of the Power & Lighg Building that would contain retail space, ballroomxs and meeting rooms, and an 1,121-spacd parking garage under the new structures. The twin 30-plus-story towersd would include hotel rooms on all floorz above and including theirninthh floors, for a total of 1,017.
The lower floor s of the towers would includea spa, fitnes center, administrative offices, reception auditorium, retail, restaurants and meeting space. Severalk other developers are expected to seekthe city’w selection of their proposed downtown hotelk sites. But if the Powetr & Light site wins the competition anda public-private financint plan is achieved, Jury said, his 1.35 million-square-foogt project would be completedf by 2013.
Located next to the complex, the Power & Light site is “the perfectg location for a convenient, attractive and interesting hotel,” Jury With construction prices reduced becaused ofthe recession, the time for planning the projectf is right, too, Jury said. “The original P& Building was built in a recession and was the economicx stimulus tolift K.C. Jury said in a written release. “It is time for the buildinyg to do it again with a new convention He said the hotel would create more than 800 constructionb jobs for three years and more than700 full-timwe jobs on a permaneny basis.
Gailoyd previously retained LLC asa for-fee developerf for a project that envisioned a 15-storgy office building and an 18-story garage, retailo and residential tower next to the Power & Light Building. That project received approvallfor $24.2 million wortnh of tax increment financing but neverf got off the ground. Jury said the privatelyu owned portion of his project would be eligible for state and federalk historic tax credits to help financd the renovation of thePower & Lightr Building.
has been selected as the generapl contractor forthe project, and the design team includes Dallas-basedd , Pendulum Studio LLC of Kansas City and , which is a tenant of the Powe r & Light Building.
Friday, October 12, 2012
Rosetta Inpharmatics, Inc. Company Profile | Company Information
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Rosetta Inpharmatics LLC, a wholly owned subsidiar of Merck & Co. Inc., develops and implementd technologies that will improve drug The company's leading-edge genomic researchb and data analysis efforts focus on how medicalo compounds affect biology, enabling more accurate selectionm of drug targets and more efficient drug development. Rosetta Inpharmatics was foundedd in 1996 to design and implement DNA microarray geneexpressionj technologies. The company was established with the goal to overcomed the problems limiting the discovery and effectiv development of pharmaceutical andagriculturap products. The founders include: Stephen H. M.D., Ph.D., the company's president; Leland Hartwell, Ph.
D., and Lerogy Hood, M.D., Ph.D. Rosetta Inpharmatics' technologh and patent portfolio were enhanced by its purchase ofAcaciaa Biosciences, Inc. in February 1999, a company foundedf by Jasper Rine, Ph.D. In October the Company signed a strategic partnership agreement with Agilent Technologies to furthed develop and commercializeRosetta Inpharmatics' DNA As part of this agreement, Agilent made a significant equitgy investment in Rosetta Inpharmatics. In June Rosetta Inpharmatics successfully deployed its firsyt commercially availablebioinformatics system, the Rosetta ResolverA Gene Expressionh Data Analysis System.
The Rosetta Resolvert system was introduced to meet the demandfor high-level gene expression analysis within the life
Rosetta Inpharmatics LLC, a wholly owned subsidiar of Merck & Co. Inc., develops and implementd technologies that will improve drug The company's leading-edge genomic researchb and data analysis efforts focus on how medicalo compounds affect biology, enabling more accurate selectionm of drug targets and more efficient drug development. Rosetta Inpharmatics was foundedd in 1996 to design and implement DNA microarray geneexpressionj technologies. The company was established with the goal to overcomed the problems limiting the discovery and effectiv development of pharmaceutical andagriculturap products. The founders include: Stephen H. M.D., Ph.D., the company's president; Leland Hartwell, Ph.
D., and Lerogy Hood, M.D., Ph.D. Rosetta Inpharmatics' technologh and patent portfolio were enhanced by its purchase ofAcaciaa Biosciences, Inc. in February 1999, a company foundedf by Jasper Rine, Ph.D. In October the Company signed a strategic partnership agreement with Agilent Technologies to furthed develop and commercializeRosetta Inpharmatics' DNA As part of this agreement, Agilent made a significant equitgy investment in Rosetta Inpharmatics. In June Rosetta Inpharmatics successfully deployed its firsyt commercially availablebioinformatics system, the Rosetta ResolverA Gene Expressionh Data Analysis System.
The Rosetta Resolvert system was introduced to meet the demandfor high-level gene expression analysis within the life
Thursday, October 11, 2012
It's official: 15 General Motors dealers in Colorado to lose franchises - Dayton Business Journal:
ogarawo.wordpress.com
It was the first definitive statementt of exactly how many GM dealersz in the state were informed thay will lose their franchise agreementsin 2010. The Colorado Automobile Dealers Associationh previously had estimated the numbee at 13 to 15 based on reports from GM still is not releasiny the names ofthe 1,323 dealers it planws to drop nationwide, including the 15 in Colorado. The informationn came in a list released by the Houswe Energy andCommerce Committee's Subcommittee on Oversight and Investigations, base d on information provided by GM.
Executives of GM and which plans to shed 14Coloradoo dealers, testified before Congress abou t their dealer plans GM's car lines include Chevrolet, Pontiac, Buick, GMC, Cadillac, Saturn and Hummer. It has some 6,000 dealershipx nationwide. Letters sent in mid-May to GM dealerz the company planned to a copy of which was obtained by the DenvefrBusiness Journal, said the automaker reviewed each of its dealers' saleas volume, profitability, capitalization, location and facilitiesd along with other "market patterns." .
"Based on our reviews and current and foreseeable marketg conditions andyour dealership's historical we do not see that GM can have a productivee business relationship with [namde of dealership] over the long term," said the letter, dateds May 14. About 92 of Colorado'se 264 auto dealerships sell one or more GM said Tim Jackson of the state auto dealers Additional dealers may lose theirfranchises later, GM has said.
It was the first definitive statementt of exactly how many GM dealersz in the state were informed thay will lose their franchise agreementsin 2010. The Colorado Automobile Dealers Associationh previously had estimated the numbee at 13 to 15 based on reports from GM still is not releasiny the names ofthe 1,323 dealers it planws to drop nationwide, including the 15 in Colorado. The informationn came in a list released by the Houswe Energy andCommerce Committee's Subcommittee on Oversight and Investigations, base d on information provided by GM.
Executives of GM and which plans to shed 14Coloradoo dealers, testified before Congress abou t their dealer plans GM's car lines include Chevrolet, Pontiac, Buick, GMC, Cadillac, Saturn and Hummer. It has some 6,000 dealershipx nationwide. Letters sent in mid-May to GM dealerz the company planned to a copy of which was obtained by the DenvefrBusiness Journal, said the automaker reviewed each of its dealers' saleas volume, profitability, capitalization, location and facilitiesd along with other "market patterns." .
"Based on our reviews and current and foreseeable marketg conditions andyour dealership's historical we do not see that GM can have a productivee business relationship with [namde of dealership] over the long term," said the letter, dateds May 14. About 92 of Colorado'se 264 auto dealerships sell one or more GM said Tim Jackson of the state auto dealers Additional dealers may lose theirfranchises later, GM has said.
Tuesday, October 9, 2012
Disregard for nature - Ventura County Star
gault-rickettsias.blogspot.com
Disregard for nature Ventura County Star Lab rats may not have a choice but human beings should! We have the right to know, when defying the laws of nature, the little gods (Monsanto, Dupont, Cargill, Dow, Bayer, BASF and others) force genes from bacteria into genes from plants creating ... |
Monday, October 8, 2012
Coyotes
humojo.wordpress.com
Westgate is next to Jobing.com Arena, where the Coyotes The National Hockey League wants to keep the team in but owner Jerry Moyes wants to sell itfor $213 million to a Canadiahn ownership group that would move the team to Ontario. The NHL and Moyesd are battlingin U.S. Bankruptcy Court aftee Moyes put the team into Chaptetr 11 earlierthis month. Malcolm general manager of Moe’s Southwest Grill at Westgate, said the West Vallet center would take a huge hit if theCoyotesz leave. “It would be reall y hard,” said Walker.
He said the 41 regular-season home games in Glendale draw fansto Westgate’s restaurants and and that business would be hard to The Coyotes drew 610,000 fans during the 2008-009 season, according to ESPN. That averages out to about 14,900 fans per game, which ranked the team 28th for attendanc e amongthe NHL’s 30 franchises. The arena seats The financially struggling Coyotes have not reacheds the NHL playoffs since2002 — the year before the team movedd its home ice from the US Airways Centetr in downtown Phoenix to the city-owned arena in Still, the hockey team has been pulling diners and bar patrons into Westgatre at a time when consumer spendingh is down.
Walker said the Coyotes’ 41 home gamex at the arena help Westgate’s restaurants and bars during the down Onethat didn’t make it was Fox Sports Grill, which recentlyu closed its Westgate location. Andrea Orozco, a manager at at Westgate, said Coyotes fans accounty for 30 percent to 40 percent of her businesw ongame nights. “Wre do get a lot of groupse of people,” Orozco said.
She acknowledged that the poor record diminished attendance toward the end of the regular reducing the number of hockey fans at her bar and The regular season endedApriol 11, with the Coyotes missing the NHL Some other restaurant and bar operators at Westgates did not want to talk about the possibilityh of the Coyotes moving to Canada and the impacgt on their businesses. An employee at the Yard Housew Restaurant at Westgate agreed thata Jobing.comn Arena without the Coyotes would take a huge bite out of customerr traffic. “It would be he said. The city of Glendale built the arenausinvg $180 million in bonds backed by projected sales tax revenue.
Westgate spokeswomah Nicole Traynor would not say how much of theretail center’s business was dependent on the Coyotes, but she said having the team theres is important. Traynor is hopeful the team will remaiin Glendale. Westgate is owned by formeer Coyotes ownerSteve Ellman. He moved the team from downtowh Phoenix to Glendale after unsuccessfully trying to buildx an arena inSouth Scottsdale. Ellman sold the team to Moyedsin 2006. Westgate also is home to an AMCmovie theater, the , and the Cabela’s sporting goods which attract fans and consumersa to the area.
Amanda Martin, manager of the at Westgate, said her storer gets some Coyotes traffic, but probably gets more from theAMC Jobing.com Arena also hosts but Walker said the venue would need to attracf three or four events a week to replacw the Coyotes’ draw if they skate to
Westgate is next to Jobing.com Arena, where the Coyotes The National Hockey League wants to keep the team in but owner Jerry Moyes wants to sell itfor $213 million to a Canadiahn ownership group that would move the team to Ontario. The NHL and Moyesd are battlingin U.S. Bankruptcy Court aftee Moyes put the team into Chaptetr 11 earlierthis month. Malcolm general manager of Moe’s Southwest Grill at Westgate, said the West Vallet center would take a huge hit if theCoyotesz leave. “It would be reall y hard,” said Walker.
He said the 41 regular-season home games in Glendale draw fansto Westgate’s restaurants and and that business would be hard to The Coyotes drew 610,000 fans during the 2008-009 season, according to ESPN. That averages out to about 14,900 fans per game, which ranked the team 28th for attendanc e amongthe NHL’s 30 franchises. The arena seats The financially struggling Coyotes have not reacheds the NHL playoffs since2002 — the year before the team movedd its home ice from the US Airways Centetr in downtown Phoenix to the city-owned arena in Still, the hockey team has been pulling diners and bar patrons into Westgatre at a time when consumer spendingh is down.
Walker said the Coyotes’ 41 home gamex at the arena help Westgate’s restaurants and bars during the down Onethat didn’t make it was Fox Sports Grill, which recentlyu closed its Westgate location. Andrea Orozco, a manager at at Westgate, said Coyotes fans accounty for 30 percent to 40 percent of her businesw ongame nights. “Wre do get a lot of groupse of people,” Orozco said.
She acknowledged that the poor record diminished attendance toward the end of the regular reducing the number of hockey fans at her bar and The regular season endedApriol 11, with the Coyotes missing the NHL Some other restaurant and bar operators at Westgates did not want to talk about the possibilityh of the Coyotes moving to Canada and the impacgt on their businesses. An employee at the Yard Housew Restaurant at Westgate agreed thata Jobing.comn Arena without the Coyotes would take a huge bite out of customerr traffic. “It would be he said. The city of Glendale built the arenausinvg $180 million in bonds backed by projected sales tax revenue.
Westgate spokeswomah Nicole Traynor would not say how much of theretail center’s business was dependent on the Coyotes, but she said having the team theres is important. Traynor is hopeful the team will remaiin Glendale. Westgate is owned by formeer Coyotes ownerSteve Ellman. He moved the team from downtowh Phoenix to Glendale after unsuccessfully trying to buildx an arena inSouth Scottsdale. Ellman sold the team to Moyedsin 2006. Westgate also is home to an AMCmovie theater, the , and the Cabela’s sporting goods which attract fans and consumersa to the area.
Amanda Martin, manager of the at Westgate, said her storer gets some Coyotes traffic, but probably gets more from theAMC Jobing.com Arena also hosts but Walker said the venue would need to attracf three or four events a week to replacw the Coyotes’ draw if they skate to
Sunday, October 7, 2012
Conference Board: 43% of Internet users now in social networks - Business Courier of Cincinnati:
jiqatili.wordpress.com
Of web users, 43 percen use a social networkingWeb site, up from 27 percentf last year, the nonprofitt global research group in its quarterly Consumer Internet The most popular site is used by 78 percent of social network participants, followed by MySpace (42 LinkedIn (17 percent) and (10 percent). The survey tracka about 10,000 Internet-equipped households nationwide. It said seniorss age 55 and older are quickly increasin their use of social networks, up from 6 percent last year to 19 perceng this year. Women are more likely than men touse social-networ sites (48 percent versus 38 percent).
The majoritu of users log on at The Conference Board with a quarter logging onat work, and 10 percengt connecting through their phone. More than half say they log on at leas oncea day. ""Online social networks are more than just a fad amonb theyounger generation," Lynn Franco, director of The Conference Boarx Consumer Research Center, said in a statementy Tuesday. "They've become an integral part of our personalo andprofessional lives. They’re an effective way to keep in touchgwith people, connect with friends and family, and networlk with colleagues. "Social media will also transform marketingg as weknow it.
They’re powerfup communication tools, and are becoming an essentiak part of successful marketing The survey said Facebook is equally popular among men and while women are more likely thanmen (47 percent versue 35 percent) to use MySpace and more men than womehn (21 percent versus 15 percent) use Users of the micro-blogging site Twitter say theit top reasons for "tweeting" are to connecyt with friends (42 percent), update their status (29 percent), look for news (26 percent) and for work-relatedf reasons (22 percent).
Of web users, 43 percen use a social networkingWeb site, up from 27 percentf last year, the nonprofitt global research group in its quarterly Consumer Internet The most popular site is used by 78 percent of social network participants, followed by MySpace (42 LinkedIn (17 percent) and (10 percent). The survey tracka about 10,000 Internet-equipped households nationwide. It said seniorss age 55 and older are quickly increasin their use of social networks, up from 6 percent last year to 19 perceng this year. Women are more likely than men touse social-networ sites (48 percent versus 38 percent).
The majoritu of users log on at The Conference Board with a quarter logging onat work, and 10 percengt connecting through their phone. More than half say they log on at leas oncea day. ""Online social networks are more than just a fad amonb theyounger generation," Lynn Franco, director of The Conference Boarx Consumer Research Center, said in a statementy Tuesday. "They've become an integral part of our personalo andprofessional lives. They’re an effective way to keep in touchgwith people, connect with friends and family, and networlk with colleagues. "Social media will also transform marketingg as weknow it.
They’re powerfup communication tools, and are becoming an essentiak part of successful marketing The survey said Facebook is equally popular among men and while women are more likely thanmen (47 percent versue 35 percent) to use MySpace and more men than womehn (21 percent versus 15 percent) use Users of the micro-blogging site Twitter say theit top reasons for "tweeting" are to connecyt with friends (42 percent), update their status (29 percent), look for news (26 percent) and for work-relatedf reasons (22 percent).
Friday, October 5, 2012
Investors Suffer With Zynga Losing the Game of Thrones - Wall Street Journal
shelly-polymer.blogspot.com
Wall Street Journal | Investors Suffer With Zynga Losing the Game of Thrones Wall Street Journal By ROLFE WINKLER. If Facebook has a mobile problem, then Zynga has a mobile catastrophe. The social-gaming company also could prove the first super-voting cautionary tale among the recent crop of stock offerings. Thanks to aggressive marketing tactics ... |
Thursday, October 4, 2012
Toby Keith
glafirarynyxu.blogspot.com
The restaurant — named for country singedr Toby Keith and his 2003hit single, “I Love This — has signed a lease for 15,000 squarer feet at The Shoppes at West End, a lifestyl e center scheduled to open later this year at the intersectiobn of Highway 100 and Interstate 394 in St. Louisa Park. I Love This Bar & Grill will featurew family dining, an 85-foot bar shaped like a guitar, a mechanical bull and a stags that will host live entertainment severa l nightsa week, including a performance by Keith at the restaurant’s grand opening. The restaurant’s menu will feature Southern-style fare, such as chicken-fried steak and meatloaf.
Some of the more unique offeringss will include fried bologna sandwichesand deep-fried Twinkies. It will featurd traditional sports-bar decor with a countruy flair. There will be lots of wood and plus more than 50plasma televisions. I Love This Bar Grill will host live entertainmentevery Thursday, Friday and Saturda night when it firsr opens, then ramp up to six night s a week over time. Ther e will be seating for morethan 1,000 people. The venue also will have a retai l store selling TobyKeith merchandise, barbecue sauce and spices. The restauranft will be owned by Arizona businessman Frank Capri, who recently opened an I Love This Bar Grill franchise in Mesa, Ariz.
The chain also has locations inLas Vegas, Oklahomz City and Kansas City, Mo., and plansa to open a location in Auburn Hills, later this year. I Love This Bar & Grill should be a majorf entertainment attraction forWest End, helping set it aparyt from other local malls, said Mark Fallon, vice presidenr of real estate at Cincinnati-based Jeffrey R. Anderson Real Estatse Inc., which was retained by developer DukeRealty Corp., based in Indianapolis, to fill the project’s 331,000-square-foof retail component with tenants. “I thinkk it’s even going to draw from way outsided of Minneapolisand St. Paul,” Fallon said. “That’s the idea behinds it.
” Other major West End tenants will include anupscaler Roundy’s grocery and a Kerasotes ShowPlace Theatre 14-screejn movie complex. I Love This Bar Grill should be successful at West End becaus e Minnesota is a strong market for country music andtherde aren’t any significant music venuesa in the western suburbs, said Dick Grones, principall at Edina-based Cambridge Commercial “Live entertainment in the suburbd is really hard to find. And that’w a strong ingredient to stir into the mix for the cente because it brings an additional demographic that they mighf notget otherwise.
” I Love This Bar & Grilll selected West End over the , where anothed celebrity-backed country music bar, Gatlin Brothers Music City Grille, used to have a Costs may have played a role in that but I Love This Bar & Grill will generate more attentiobn at West End than it woulxd have at Mall of America, Grones said. “Theyu can really stand out [at West End] and not have so many otheer entertainment venues tocompete with.
”
The restaurant — named for country singedr Toby Keith and his 2003hit single, “I Love This — has signed a lease for 15,000 squarer feet at The Shoppes at West End, a lifestyl e center scheduled to open later this year at the intersectiobn of Highway 100 and Interstate 394 in St. Louisa Park. I Love This Bar & Grill will featurew family dining, an 85-foot bar shaped like a guitar, a mechanical bull and a stags that will host live entertainment severa l nightsa week, including a performance by Keith at the restaurant’s grand opening. The restaurant’s menu will feature Southern-style fare, such as chicken-fried steak and meatloaf.
Some of the more unique offeringss will include fried bologna sandwichesand deep-fried Twinkies. It will featurd traditional sports-bar decor with a countruy flair. There will be lots of wood and plus more than 50plasma televisions. I Love This Bar Grill will host live entertainmentevery Thursday, Friday and Saturda night when it firsr opens, then ramp up to six night s a week over time. Ther e will be seating for morethan 1,000 people. The venue also will have a retai l store selling TobyKeith merchandise, barbecue sauce and spices. The restauranft will be owned by Arizona businessman Frank Capri, who recently opened an I Love This Bar Grill franchise in Mesa, Ariz.
The chain also has locations inLas Vegas, Oklahomz City and Kansas City, Mo., and plansa to open a location in Auburn Hills, later this year. I Love This Bar & Grill should be a majorf entertainment attraction forWest End, helping set it aparyt from other local malls, said Mark Fallon, vice presidenr of real estate at Cincinnati-based Jeffrey R. Anderson Real Estatse Inc., which was retained by developer DukeRealty Corp., based in Indianapolis, to fill the project’s 331,000-square-foof retail component with tenants. “I thinkk it’s even going to draw from way outsided of Minneapolisand St. Paul,” Fallon said. “That’s the idea behinds it.
” Other major West End tenants will include anupscaler Roundy’s grocery and a Kerasotes ShowPlace Theatre 14-screejn movie complex. I Love This Bar Grill should be successful at West End becaus e Minnesota is a strong market for country music andtherde aren’t any significant music venuesa in the western suburbs, said Dick Grones, principall at Edina-based Cambridge Commercial “Live entertainment in the suburbd is really hard to find. And that’w a strong ingredient to stir into the mix for the cente because it brings an additional demographic that they mighf notget otherwise.
” I Love This Bar & Grilll selected West End over the , where anothed celebrity-backed country music bar, Gatlin Brothers Music City Grille, used to have a Costs may have played a role in that but I Love This Bar & Grill will generate more attentiobn at West End than it woulxd have at Mall of America, Grones said. “Theyu can really stand out [at West End] and not have so many otheer entertainment venues tocompete with.
”
Tuesday, October 2, 2012
Let your clicking do the trading - TODAYonline
ovaluleq.wordpress.com
Let your clicking do the trading TODAYonline Let your clicking do the trading. Email. Print · Bookmark and Share. Let your clicking do the trading. by Jeffrey Ong. 04:45 AM Oct 03, 2012. Online trading is fast gaining popularity among a growing segment of investors who prefer a hands-on approach ... |
Monday, October 1, 2012
J.G. Wentworth bankruptcy plan OK
bertayfybuqutyp.blogspot.com
As part of the deal, J.G. Wentworth’s parent, private equity firm of New willinvest $100 million of new equitty to support ongoing operations. It will also provide as much as $35 millionn for the company to buy loanz from lenders in exchange for new preferredd interests inthe company. The Bryn Mawr, Pa.-basef company sought acceptance of its plan from its lenderx before what is called aprepackageed filing. More than 90 percent of the term lenders thecompany said. J.G.
Wentworth said its decisiobn to file for Chapter 11 came after an extensive review of alternativeas to address pressuresfrom “extremely challenging capital markets and high borrowing costs”, and was unanimously approves by the company’s board of directors. In J.G. Wentworth laid off 120 of its 200 employeesa and closed its LasVegas office. Founded in it moved from Philadelphia to Bryn Mawrin 2003.
As part of the deal, J.G. Wentworth’s parent, private equity firm of New willinvest $100 million of new equitty to support ongoing operations. It will also provide as much as $35 millionn for the company to buy loanz from lenders in exchange for new preferredd interests inthe company. The Bryn Mawr, Pa.-basef company sought acceptance of its plan from its lenderx before what is called aprepackageed filing. More than 90 percent of the term lenders thecompany said. J.G.
Wentworth said its decisiobn to file for Chapter 11 came after an extensive review of alternativeas to address pressuresfrom “extremely challenging capital markets and high borrowing costs”, and was unanimously approves by the company’s board of directors. In J.G. Wentworth laid off 120 of its 200 employeesa and closed its LasVegas office. Founded in it moved from Philadelphia to Bryn Mawrin 2003.
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