U.S. Bank returns TARP money - Philadelphia Business Journal:

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billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announcerd its plans to redeem the preferref stock issued to the Last week, it from the government to do so. U.S. Bank also told the Treasur y it intends to repurchasethe 10-yearf warrant it had issued along with the preferrec stock. “The redemption allows our companty to return to operating from a position of both independentf strength andstrategic flexibility,” said Richard the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank which showed it would be able to ride out the economi downturn without having to raisemore capital. Davis has of the government’ws capital purchase program. In February he called the progran “lousy” and said the bankin industry was pressured to participate inthe

Joseph Mattioli, Who Gave Up Dentistry to Build Pocono Raceway, Dies at 86 - New York Times

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Joseph Mattioli, Who Gave Up Dentistry to Build Pocono Raceway, Dies at 86 New York Times Joseph Mattioli, who gave up his Philadelphia dental practice, bought a spinach farm off Interstate 80 in northeast Pennsylvania in 1960 and transformed it into Pocono Raceway, one of the primary stock-car racetracks in the country, died Thursday in ... From rags to races: The story of Doc Mattioli, a shrewd, driven businessman Pocono Record Pocono Raceway founder Joseph Mattioli dies | Philadelphia Inquirer | 2012-01-27 Philadelphia Inquirer  »

Business Highlights - Washington Post

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Business Highlights Washington Post NEW YORK â€" ___ Stocks close lower; Dow near post-crisis peak The Dow Jones industrial average fell Thursday after mixed economic data tempered traders' early optimism. Solid news on factory orders and strong earnings from US manufacturers highlighted ... and more »

Sector Snap: Generic drugmakers - CBS News

http://msnewcomersguide.com/world/should-new-orleans-be-rebuilt/

Sunday, January 22, 2012

Globe, biggest union reach tentative deal - Boston Business Journal:

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If the newsroom and business-side employees who comprise the unit approved the dealJuly 20, stafferss will lose lifetime job guaranteexs that have been in placd since the Taylor sold the pape to the Times Co. in 1993. They'lll also take 5.94 percent pay union President Dan Totten said ina statement. Managemenft already won $10 million in combined concessionsw fromother unions. Globe publisher Steve Ainsley issueds a statement just before midnightTuesdayh saying, “Our aim throughout our negotiationsd has been to achieve the necessary savings in a way that causew the least hardship for our employees.
We’re very pleased to have reached an agreement that accomplishes those Resolving the labor dispute would smooth the path to a potential sale ofthe money-losing broadsheet. The Timews Co. has retained bankers to explore a deal but has not publicc identified anypotential buyer.

Friday, January 20, 2012

Buying new business recharges retiree - Houston Business Journal:

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"Jimmy" Stewart, 58, spent 34 years of full-time employmenyt with Stewart & Stevenson, formerly listed on the New YorkStocl Exchange. For roughly a third of his tenure, he was involvedx in the company's oilfield servicea operation. He is the great-grandson of company C. Jim Stewart. In 1902 the original C. Jim Stewarf founded the business as a downtowh Houstonblacksmith shop. In the late Jimmy Stewart began workingt in the family company ona part-tims basis. He ultimately became an executive vice presidenyt ofStewart & Stevenson and sat on the company'se board. He retired 3 years ago as a directofr and executive atage 54.
"Way too young," Stewart now reflects. During his three-year he played some golf -- "not well" -- and traveled. But with some promptingf from his wife, he decided to hang out his own shinglde the secondtime around. Says Stewart: "I'm actuallt glad to be back in the saddle." The threes owners of Supreme Electrical Service sold the smallbut fast-growing business to Stewart for an undisclosed sum. The 58-employeer company founded 14 years ago provideselectrical rig-up servicee primarily in the United States, includinfg Texas. Connie Thompson, whose familyg founded Supreme Electrical, owned a majorityh of the business acquiredby Stewart.
She has stayes on at the company in thesales department. Stewart describeds the previous ownersas "a very conservative group." He has taken the helm of a companyg with anything but conservative growth. Sales have roughlhy tripled during the pasttwo years, reachinbg the $10 million to $12 million "This is a very strong market for says Stewart. Supreme Electrical is wired in as a contractod fordrilling rigs. The company electrically rigs up rigs as they arebeingb built. Stewart draws the analogy of a contractof who handles all the electrical work for a housewunder construction. All rig for instance, is provideds by Supreme Electrical.
Among the largest Supremer Electrical clientsis Houston-basedc National Oilwell Varco Inc., a publiclyu traded manufacturer of oil and gas National Oilwell maintains a "fevered pace" of orders and a recordd backlog, according to Citigroup equityy analyst Geoff Kieburtz. An inevitablse replacement cycle for a world rig fleet well past primwe bodes well for both National Oilwell andSupremde Electrical.

Wednesday, January 18, 2012

Solar Array, Gen. Mills detail expansions - Tampa Bay Business Journal:

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broke ground April 5 on the $100 million, 176,000-square-foot expansion of its manufacturingfacility here, Keithb Bone, general manager of the local told members of . AED held its quarterly meeting Thursdayuat . Joe Hudgins, president and CEO of Solae Array Ventures, outlined his company’x plan to build a massive solar manufacturing plant onthe city’s General Mills’ expansion should be completesd by November, Bone said. The cereal manufacturer will hire 60additionap employees, bringing additional payrolpl to the area of $3.5 million. The expansion also brings $30 million in spending to New Mexico.
The Albuquerque City Councio approveda $100 million industrial revenue bond deal for the companyg in February. BE&K Corp. from Nortnh Carolina landed the design/build contract to build the but Bone said 80 percent ofthe firm’z spending and employees will be The precast panels being used in the construction are manufacture d in Belen. General Mills has been in Albuquerquresince 1991. Its current facility is located near Pasei del Norte and Edith and has 190 with an annual payrollof $12 said Bone. The 275,000-square-foot plant producesa about 135 million pounds annually of 35different cereals.
The facilitg also has a lab on-site where the instructions for bakinyg General Mills products at high altitudes are The company has givenabout $5 million to area nonprofite since 1998 and $519,00 in scholarships, Bone added. Don chairman of AED, said the cereal company’s donations illustrate one of the things the organizationm looks for in recruiting community involvement. Hudgins said Solar Array plans to break ground by the third quarter of this year ona 225,000-square-foot thin-filnm photovoltaic manufacturing plant in the Cordero Mesa business west of the mattress factory.
The company planxs to add three more buildings of that size as it he said, with each facility employing abouft 225. Its annual payroll in the first phasse wouldbe $14 million. About five percent of the jobs wouldpay $100,000, 45 perceny would pay $70,000 and half of the jobs wouled pay $45,000. The capital investment for the firsrt phase willbe $170 million and the companhy would spend $40 million annually for raw The first phase is expected to have a capacity of 75 but that would grow to 300 mw with the full The plant also will have a spaced that will serve as a communitu and educational center. Solar Array is seekinb $175 million in industrial revenue bond fromBernalillo County.
The compang is working to raise $210 million in debt and Hudgins said. Hudgins said New Mexico beat out two other states for the despite the fact that it did not offer thelargesrt incentives. But the coordinationb among local and state governmentg officials and other parties made New Mexici far more efficient in establishing a planning framework that the company could then use to plan a budgetg forthe plant, he said “That was a majodr issue for us,” Hudgins said. He also praised the labo force here and theeducational institutions. The facilith is being designed byPageSoutherlandPager LLP, which has Texas offices in Dallas and Houston, as well as Washington, D.C.
and London, U.K. Hoffman based in Portland, Ore., is buildingt the facility.

Sunday, January 15, 2012

'Unpalatable' pension reforms revisited - Financial Times

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Sector Snap: Generic drugmakers CBS News (AP) NEW YORK â€" Citi Investment Research & Analysis is looking for a strong showing from major generic drugmakers who will soon report fourth quarter results, thanks to a myriad of positives including new product launches and growing US sales. and more »

'Unpalatable' pension reforms revisited Financial Times By Josephine Cumbo Private-sector workers could lose inflation protection for their pensions, as the government reconsiders reforms deemed too unpalatable to introduce a decade ago. Across the UK, 2m active members of private-sector defined benefit, ... and more »

Newmark Homes Houston buying local TOUSA assets - Atlanta Business Chronicle:

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TOUSA plans to complete and sell all homes currentlytunder construction. Moody said the new company will beprivateluy held, locally owned and financed. “Oufr management team has over 70 combined experience,” he said. The new company plans to build 60 homexs ranging in pricefrom $160,00p0 to more than $600,000 in the firsrt 60 days of which will officially begin June 15. Moodu said 55 employees of TOUSA will remainh with the new company after TOUSA winds down its locakbusiness operations. TOUSA’s predecessor company was foundefd in Houston in 1983 as and completerd an initial public offering inMarch 1998. In Decembee 1999, TOUSA Inc.
acquired 80 percent of Newmark’s stock. TOUSzA Inc. also acquired 100 percent of then-public in Novembee 2000. On June 25, 2002, Engl merged with Newmark, and the merged company changedx its name toTOUSA Inc. In March, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it planned to lay off 156 peoplwe in the Houston area from its Newmark Homesz brand beginning May 22 due to the downturn in the housing market.

PERB chair Rystrom dies - Business Courier of Cincinnati:

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Rystrom was appointed by Gov. Arnoldx Schwarzenegger to the five-member PERB board in August 2007. She becams chair in February 2009. The board enforces collectivw bargaining laws that cover more than 2 millionCaliforniaa public-sector employees. It also rules on challenges to decisions issuexby PERB’s general counsel and administrative law “Tiffany Rystrom capped a distinguished career by channelingh her passion for the law into public service,” Schwarzenegger said in a statement following her death. “Shse raised the bar on quality, integrity and consistenc withthe law.
” Rystrom entered the legal fiel d after six years in advertising and She started in 1977 as judicial clerok in the California Court of Appeal. She went on to becomer deputy district attorney in Marin County before moving to the Officw of the California Attorneg General and intoprivate practice. She is survived by her long-tim partner, California Labor CommissionerAngela

Chembio Presenting at Biotech Conference - MarketWatch (press release)

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Chembio Presenting at Biotech Conference MarketWatch (press release) Interested investors can access the live audio webcast of the presentation by going to the Biotech Showcase media server at http://www.media-server.com/m/p/xjsxe3aa . A replay of the webcast, which will be available beginning approximately two hours ... and more »

Trump eyes Seattle for next hotel-condo project - South Florida Business Journal:

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Ivanka Trump, vice president of development and acquisition forthe , confirmed in a phond conversation with the Puget Sound Business Journal that the real estates development firm has been "actively in Seattle for a site to develop into a a condominium complex or a combination hotel/condo project. "Io think the fundamentals are very strong for the right Trump said. "It's important to create a produc that matches the feel ofthe market," she describing Seattle as a "young market" and one of the strongest in the country.
The firm has 33 developmenft projects in theworks worldwide, but not in After about a year of negotiation and controversh over building height, a Trump spokesmanj announced the decision in December 2005 to resig n from a partnership that was proposing the at 26th Streegt and Camelback Road.

MassHousing recognizes BofA lead program - Boston Business Journal:

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For the third year, Bank of America was MassHousing’ws top “Get the Lead Out” lender with 58 loan s totaling $1.2 million. Since Bank of America has originated a total of 212 Get the Lead Out loanxstotaling $4.7 million. the quasi-public agency that provides financing for affordable housingt inthe state, launched the “Gert the Lead Out” loan program as an affordablw way to encourage homeowners to remove potentially hazardousd lead paint from their homes. The agency works with a statewide networok of nearly 200approved lenders.
Formec in 1996, MassHousing raises capital by selling bonds and lends the proceedssto low-and moderate-income home buyers and homeowners and to developers who builcd or preserve affordable and mixed-incom e rental housing. MassHousing has provided more than $5.6 billio for rental housing and morethan $4.8 billion for home

Doctors turn to electronic records - Business First of Buffalo:

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To advance EMR efforts, HealtheLink has signed agreements with six electronic health recordstechnology firms, which will offet special pricing on their products and services to locaol health-care organizations. HealtheLink, also known as the (WYNCIE), is a collaborative effort formed to enable the sharing ofhealtb information. Established with fundingy fromthe region’s healtu insurers and hospital systems, major funds include $9 million in state grants through the Healtg Care Efficiency and Affordability Law for New Yorkerz (HEAL NY).
Dan Porreca, executive director, says physiciansz can now test and compare EMR products from the six selectedr vendorsat HealtheLink’s learning lab in a neutrapl setting to determine which might work best for their “It also gives us the ability to show how the interoperables capabilities might impact them in their officew and show how the data flows,” he says. It also will help organizationas fulfill the clinical prioritiex of the Statewide Health Information Network forNew York. The statde is creating an interoperable system to connect electronic healtb records to Medicaid and create a healtuh information exchange to share data related to publicvhealth matters.
WNYCIE has been cited for achievinf these goals ahead of other groups statewideand nationally, Porrecs says. “It’s unique within New York and fromwhat I‘k hearing from the it’s something that we are kind of he says. Dr. Michael Cropp, presidenrt and CEO of , says the role of WNYCIw in connecting all of those EMRsis vital. as a board member of America’s Health Insurance Plansx (AHIP), has played a role in helpiny to craft those federall reform efforts that call for advances in HIT as a way to helpcut “We’re in a greagt position here in Western New York with WNYCIE to help accelerates that physician adoption and to make sure the informatioj can flow around the community and follow the patient,” he says.
“That is such a huge issuee in terms of patienf safety and better quality and eliminating the duplicate testingv thattakes place.” The American Recovery and Reinvestmenf Act (ARRA) calls for investing $20 billion in stimuluss funding for HIT initiatives, including Medicare and Medicaixd incentives to encourage doctors, hospitals and other “There’s a sense that the rate of adoption is goinfg up,” Porreca says, adding that since the HealtheLink system launched in January, the numbed of providers and users participating has tripled. “I thino the practices are more and more recognizin that in thelong run, this is goiny to benefit them.
”