Sovereign, Corporate Bond Risk Rises, Credit-Default Swaps Show Bloomberg The cost of insuring against default on European sovereign and corporate debt rose, according to BNP Paribas SA. The Markit iTraxx SovX Western Europe Index of credit- default swaps on 15 governments added 1.5 basis points to 275.5 at 3 pm in London. Credit Default Swaps: Useful, Misleading, Dangerous? |
Monday, April 30, 2012
Sovereign, Corporate Bond Risk Rises, Credit-Default Swaps Show - Bloomberg
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Saturday, April 28, 2012
USD 2-4 Billion Russia-China Investment Fund to Be Created by Late June 2012 ... - MarketWatch (press release)
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China Daily | USD 2-4 Billion Russia-China Investment Fund to Be Created by Late June 2012 ... MarketWatch (press release) MOSCOW, April 28, 2012 /PRNewswire via COMTEX/ -- During a meeting held today as part of the China-Russia Investment and Trade Forum, First Deputy Prime Minister of Russia Igor Shuvalov and Executive Vice-Premier of the State Council of China Li ... Chinese vice premier announces $15 billion in trade and investment contracts ... Russia and China create $4 billion investment fund Russia, China to announce progress on fund during Li visit |
Thursday, April 26, 2012
Another BofA board member resigns - Boston Business Journal:
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Robert Tillman, a former (NYSE:LOW) chief executive, resigned from the BofA board effectiveMay 29. The bank announced the move Thursdayg evening in a filing with the Securitiews andExchange Commission. The filing says Tillman’xs resignation was not related to a disagreement with the bank or its A reason for his decision has not been provider bythe bank, and BofA officialws could not be reached Thursday Tillman has been a director since 2005. During his tenure, he servecd on the asset quality committee andexecutiv committee. Late last week, the bank announcefd former lead independentdirector O. Temple Sloaj had left the board.
BofA didn’ t disclose Sloan’s reason for resignation. Sloan was a BofA directotr for13 years. During his tenure, he servedf as chairman of both the executive committee and the compensationb andbenefits committee. He also was a membedr of the corporategovernance BofA’s board has been under intense scrutiny in recent months as the bank suffered through a shar p stock-price decline after acquiring Merrill Lynch Co. The Charlotte, N.C.-based bank (NYSE:BAC) also has receivedr $45 billion in taxpayerf aid. BofA is the largest bank in rankedby deposits.
At the bank’x annual meeting in late April, shareholders voted to strip Chiefr Executive Kenneth Lewis of his position asboardx chairman. Walter Massey was installed as the new chairman and has indicatefd the board needs tobe re-evaluated. Lewiw remains the bank’s CEO and
Robert Tillman, a former (NYSE:LOW) chief executive, resigned from the BofA board effectiveMay 29. The bank announced the move Thursdayg evening in a filing with the Securitiews andExchange Commission. The filing says Tillman’xs resignation was not related to a disagreement with the bank or its A reason for his decision has not been provider bythe bank, and BofA officialws could not be reached Thursday Tillman has been a director since 2005. During his tenure, he servecd on the asset quality committee andexecutiv committee. Late last week, the bank announcefd former lead independentdirector O. Temple Sloaj had left the board.
BofA didn’ t disclose Sloan’s reason for resignation. Sloan was a BofA directotr for13 years. During his tenure, he servedf as chairman of both the executive committee and the compensationb andbenefits committee. He also was a membedr of the corporategovernance BofA’s board has been under intense scrutiny in recent months as the bank suffered through a shar p stock-price decline after acquiring Merrill Lynch Co. The Charlotte, N.C.-based bank (NYSE:BAC) also has receivedr $45 billion in taxpayerf aid. BofA is the largest bank in rankedby deposits.
At the bank’x annual meeting in late April, shareholders voted to strip Chiefr Executive Kenneth Lewis of his position asboardx chairman. Walter Massey was installed as the new chairman and has indicatefd the board needs tobe re-evaluated. Lewiw remains the bank’s CEO and
Wednesday, April 25, 2012
New CEO at The Staubach Co. - Dallas Business Journal:
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Staubach will assume the title of executive chairma n and sayshis day-to-day duties will not change. Gregory president of the company's Northeast region, will become the new CEO. Forme national president and COO Elysia Ragusz will now overseethe company's Easterhn division. She'll be replaced by John former executive vice president of the companh and president of its Southwestr CorporateServices division. The companuy also announced additions to its board of The changes are in conjunction with a long plannerd recapitalization of itscorporate structure, expected to be complete by June 30, accordinyg to a news release.
Besides new board members include Dan president ofCorporate Services, and Steve Stratton, president of Corporats Services, Midwest in A spokesperson for the company confirmed the firm'a corporate home will remain in The Staubach Co. is currently developing a new headquarters buildingf inPreston Center. Its existing leasde at Addison Circle expiredin 2009. Staubach formed his commercial real estatew enterprise 30 years ago after a hugely successful run as quarterbacl forthe . He recently said his primary responsibility now is leavinh his company in good shape when the next generatiobntakes over.
In addition to Gates, who is Staubach' son-in-law, three other family members work with Staubach at his tenanftrepresentation firm. Son Jeff is a top broker. Daughtetr Stephanie joined the firm last year asgeneraol counsel. Son-in-law Jamie Mentgen is a real estateradministration manager. "As executive chairman, I will continur to be active ona full-time performing all the same dutie s I have been doing, including working with and on behal f of our clients and ensuring that we retain our stronfg values and high levelzs of service," Staubach said in a statement.
"Aas our company's operations have grown across this in Canadaand Mexico, and as our numberds approach and exceed 1,500 we recognize the need to expand our nationak level of management."
Staubach will assume the title of executive chairma n and sayshis day-to-day duties will not change. Gregory president of the company's Northeast region, will become the new CEO. Forme national president and COO Elysia Ragusz will now overseethe company's Easterhn division. She'll be replaced by John former executive vice president of the companh and president of its Southwestr CorporateServices division. The companuy also announced additions to its board of The changes are in conjunction with a long plannerd recapitalization of itscorporate structure, expected to be complete by June 30, accordinyg to a news release.
Besides new board members include Dan president ofCorporate Services, and Steve Stratton, president of Corporats Services, Midwest in A spokesperson for the company confirmed the firm'a corporate home will remain in The Staubach Co. is currently developing a new headquarters buildingf inPreston Center. Its existing leasde at Addison Circle expiredin 2009. Staubach formed his commercial real estatew enterprise 30 years ago after a hugely successful run as quarterbacl forthe . He recently said his primary responsibility now is leavinh his company in good shape when the next generatiobntakes over.
In addition to Gates, who is Staubach' son-in-law, three other family members work with Staubach at his tenanftrepresentation firm. Son Jeff is a top broker. Daughtetr Stephanie joined the firm last year asgeneraol counsel. Son-in-law Jamie Mentgen is a real estateradministration manager. "As executive chairman, I will continur to be active ona full-time performing all the same dutie s I have been doing, including working with and on behal f of our clients and ensuring that we retain our stronfg values and high levelzs of service," Staubach said in a statement.
"Aas our company's operations have grown across this in Canadaand Mexico, and as our numberds approach and exceed 1,500 we recognize the need to expand our nationak level of management."
Monday, April 23, 2012
Report: Foreclosures are top sellers - East Bay Business Times:
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said banks that are willing to deal on foreclosed units are driving the firstrquarter activity. For Shoma at Keys Cove in south Miami-Dadse County sold the most, with 50 units closing in the firsgt quarter. The Vue at Brickell sold 25 condos, rankin g it seventh on CondoReports.com’ top-10 list. “Many bank have taken ownership of unitsd in these buildings and are looking to get saidAdam Cappel, president of CondoReports.com. “Banks, eithert through short sales or units they own as a resulrof foreclosures, are the most active sellerd in today’s market as they are willing to accepg market prices.
” The 10 most active buildingsz produced an average of 29 sales, or one sale everty three days. The buildings accountedd for more than 11 percent of all condop salesin Miami-Dade, according to a CondoReports.con news release. Most of the activity is tied to individuaolunit sales, and not bulk buys, Cappell said. “These buildings are movintg toward stability as speculative investors and thinly capitalized ownersa are being replaced witheither owner-occupant or well-capitalized, patientr investors buying in at a much lowetr cost,” Cappel said in the “Most are individual unit The study looked at closecd sales in 2,000 condk projects with at least 50 units throughout Miami-Dade.
The studh excluded units delivered in 2008 and 2009 because thosed sales were likely driven by preconstruction Cappel said.
said banks that are willing to deal on foreclosed units are driving the firstrquarter activity. For Shoma at Keys Cove in south Miami-Dadse County sold the most, with 50 units closing in the firsgt quarter. The Vue at Brickell sold 25 condos, rankin g it seventh on CondoReports.com’ top-10 list. “Many bank have taken ownership of unitsd in these buildings and are looking to get saidAdam Cappel, president of CondoReports.com. “Banks, eithert through short sales or units they own as a resulrof foreclosures, are the most active sellerd in today’s market as they are willing to accepg market prices.
” The 10 most active buildingsz produced an average of 29 sales, or one sale everty three days. The buildings accountedd for more than 11 percent of all condop salesin Miami-Dade, according to a CondoReports.con news release. Most of the activity is tied to individuaolunit sales, and not bulk buys, Cappell said. “These buildings are movintg toward stability as speculative investors and thinly capitalized ownersa are being replaced witheither owner-occupant or well-capitalized, patientr investors buying in at a much lowetr cost,” Cappel said in the “Most are individual unit The study looked at closecd sales in 2,000 condk projects with at least 50 units throughout Miami-Dade.
The studh excluded units delivered in 2008 and 2009 because thosed sales were likely driven by preconstruction Cappel said.
Saturday, April 21, 2012
Consumer confidence up dramatically - Dayton Business Journal:
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in April. The index is based on a representativwe sampleof 5,000 U.S. households. “Lookingf ahead, consumers are considerably less pessimistic than they were earlier this and expectations are thatbusinessd conditions, the labor market and incomez will improve in the comin months,” said Lynn Franco, director of the . “Whil confidence is still weak byhistorical standards, as far as consumerd are concerned, the worst is now behind us." Consumers' appraisalo of the job market was also more favorable. Thos e claiming jobs are "hard to get" decreasesd to 44.7 percent from 46.6 percent in Those saying jobsare "plentiful" edgedd up to 5.
7 percent from 4.9 percent. The employment outloo k was also less with the percentage of consumers expecting more jobs in the monthds ahead increasing to 20 percentfrom 14.2 percent, while those anticipating fewerr jobs decreased to 25.2 perceny from 32.5 percent.
in April. The index is based on a representativwe sampleof 5,000 U.S. households. “Lookingf ahead, consumers are considerably less pessimistic than they were earlier this and expectations are thatbusinessd conditions, the labor market and incomez will improve in the comin months,” said Lynn Franco, director of the . “Whil confidence is still weak byhistorical standards, as far as consumerd are concerned, the worst is now behind us." Consumers' appraisalo of the job market was also more favorable. Thos e claiming jobs are "hard to get" decreasesd to 44.7 percent from 46.6 percent in Those saying jobsare "plentiful" edgedd up to 5.
7 percent from 4.9 percent. The employment outloo k was also less with the percentage of consumers expecting more jobs in the monthds ahead increasing to 20 percentfrom 14.2 percent, while those anticipating fewerr jobs decreased to 25.2 perceny from 32.5 percent.
Thursday, April 19, 2012
New Data Shows GeNO LLC Nitric Oxide Delivery System Provided Nitric Oxide ... - MarketWatch (press release)
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New Data Shows GeNO LLC Nitric Oxide Delivery System Provided Nitric Oxide ... MarketWatch (press release) Results showed that in eight patients who received NO in air, the levels of nitrogen dioxide (NO2) in the gas that was delivered varied from 0.04 PPM to 0.06 PPM. Two patients received NO in O2 with NO2 levels in the gas varying from 0.25 to 0.35 PPM. |
Tuesday, April 17, 2012
Video/Q&A: 'Think Like A Man' star Kevin Hart - Baltimore Sun
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BET | Video/Q&A: 'Think Like A Man' star Kevin Hart Baltimore Sun รข€œI was the guy that constantly wanted to ch » |
Monday, April 16, 2012
Auto supplier Visteon files Chapter 11 - Business First of Columbus:
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Van Buren Township, Mich.-based Visteon (OTC which runs eight plants in Ohio, said the bankruptcy applied only toits U.S. operations and is intendede to “maximize the long-term value of the company.” The filin g comes nine years after Visteon was spun off from which has lined up tosupport debtor-in-possession financinhg for its restructuring. “During the reorganization we will seek to addresa our capital structure and legacy costxs that are not sustainable given the currengteconomic environment,” CEO Donald Stebbinw said in a release. The companhy last year lost $681 million on $9.54 billion in revenue.
It has lost moneyg every year since it was separatede from Fordin 2000. In additiohn to the assistance from Visteon said it has backinyg from other customers and plans to fund operations with cash andthe debtor-in-possession facility. The companhy said it has filed a numbet of motions in Delaware bankruptcy court to alloew it to continue serving customers and keepingfemployee obligations. Visteon employs about 31,000 worker in 27 countries andhas U.S. operations in nine In Ohio, its operations include a 65,000-square-foot planr in Springfield that makes and assembles fuel delivert modulesand tanks. The company also has state operations in Bowling Green, Delphos and Tiffin.
Van Buren Township, Mich.-based Visteon (OTC which runs eight plants in Ohio, said the bankruptcy applied only toits U.S. operations and is intendede to “maximize the long-term value of the company.” The filin g comes nine years after Visteon was spun off from which has lined up tosupport debtor-in-possession financinhg for its restructuring. “During the reorganization we will seek to addresa our capital structure and legacy costxs that are not sustainable given the currengteconomic environment,” CEO Donald Stebbinw said in a release. The companhy last year lost $681 million on $9.54 billion in revenue.
It has lost moneyg every year since it was separatede from Fordin 2000. In additiohn to the assistance from Visteon said it has backinyg from other customers and plans to fund operations with cash andthe debtor-in-possession facility. The companhy said it has filed a numbet of motions in Delaware bankruptcy court to alloew it to continue serving customers and keepingfemployee obligations. Visteon employs about 31,000 worker in 27 countries andhas U.S. operations in nine In Ohio, its operations include a 65,000-square-foot planr in Springfield that makes and assembles fuel delivert modulesand tanks. The company also has state operations in Bowling Green, Delphos and Tiffin.
Saturday, April 14, 2012
Auto company bankruptcies may make lenders 'gunshy' - bizjournals:
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Many Republicans, meanwhile, want out of the car at the nearesg exit. Some turnaround specialists are concernedthe government-guided bankruptcyy reorganizations of Chrysler and GM coul d make it harder for companies to obtain capital in the In these cases, the companies’ labor union, the Unitec Auto Workers, received more favorable treatment than the secured creditors. This violates well-established bankruptcy law principles, said Petet Kaufman, president of LLC’s restructuringv practice in New York. The United States is the most welcomin g place in the world for particularlyfor loans, he said, because “everyone knowx what their down side is.
” “Now that has all been stoor on its ear,” he said. “At a time when the countryu needs capital providers morethan you’re going to find institutionss with their hands in their pockets, or they’rer going to be charging a lot more,” Kaufman said. Half of the turnaround experts surveyecd by the thoughtthe government’s decision to elevate unsecuredr creditors over secured creditors in the Chrysler bankruptcy will make secureds loans more expensive. More than one-third thought it would make lenders less inclined to makethesew loans.
An online survey conducted by the found that 76 percent ofrespondents “disagreed strongly” with the Obamwa administration’s engineering of the Chrysler bankruptcy. Kaufman contends capital providers will be especially leery of situationsz where there are unions and a conceivable governmenrtpolicy interest. That’s “going to be a systemi c issue ona going-forward basis,” he said. Othe r experts, however, contend the government’s decision to intervenr in the auto cases won’t serve as a precedent for future corporatwe bankruptcies.
In the current economic no politician was going to let Chrysler and GM saidStephen Lubben, a law professor at Setobn Hall University who specializes in corporate debt and financialp distress. The cases may make lenders “gun shy” in the shorr run, Lubben said, but “eventually peoplde will come around to the that these were special cases like that of Penn whose 1970 bankruptcy led to the creationhof .
Mark a partner with in New said the federalgovernment “used its power to broked a settlement for the greater good of the However, if the bankruptcy process is going to continuee to be the basis for corporate restructuringds and liquidations, it must be perceivesd as fair and impartial.” Tom Donohue, presidenf and CEO of the , said he will watchh closely to see if government officialxs and the UAW intervene in busineszs decisions made by Chrysler and GM. “Ww will expose and fight any counterproductivee influenceby government, unions or politicians over decisions that should be left to Donohue said in a statement issued after President Obama announced the U.S.
governmentr would own 60 percentof GM. “Andd we will continually insist that government reduce and eliminate its ownershio stake as soonas possible,” Donohue said. Obamaa said his goal “is to get GM back on its feet, take a hands-offc approach and get out quickly.” “The federal government will refrain from exercising its rightxs as a shareholder in all but the most fundamentalcorporatew decisions,” Obama said. “Whej a difficult decision has to be made on matters like wherd to open a new plant or what type of new car to thenew GM, not the United States government, will make that decision.
” Some Republicans, think the Obama administration and Congress won’tr be able to resist meddling in the businesw decisions of a government-owned GM. They’ve propose legislation that would convertthe government’s stake in GM to sharesd of stock that woulf be distributed to U.S. taxpayers. Sen. Lamae Alexander pointed to the June 3 Senate hearinfg where GM and Chrysler executiveds were grilled for nearly four hours abouty their decisions toclose dealerships. “Thet didn’t have much time yesterday to build or sell carsand trucks,” Alexandef said June 4.
“Unless we get the stock out of the handswof Washington, this scene will be repeated over and over.” Meanwhile, Sen. Mike R-Neb., has proposed legislation that would require congressionalp approval before the federal governmenrt could use Troubled Asset Relie Program funds to make equity investments inany “I’m perplexed that we would allow government to take over private industry with zero checks and balances,” Johanns said. “I’m profoundly concerned the unprecedented government interference will cause irreversiblre changes to the capitalistic platform our great economt wasbuilt upon.
”
Many Republicans, meanwhile, want out of the car at the nearesg exit. Some turnaround specialists are concernedthe government-guided bankruptcyy reorganizations of Chrysler and GM coul d make it harder for companies to obtain capital in the In these cases, the companies’ labor union, the Unitec Auto Workers, received more favorable treatment than the secured creditors. This violates well-established bankruptcy law principles, said Petet Kaufman, president of LLC’s restructuringv practice in New York. The United States is the most welcomin g place in the world for particularlyfor loans, he said, because “everyone knowx what their down side is.
” “Now that has all been stoor on its ear,” he said. “At a time when the countryu needs capital providers morethan you’re going to find institutionss with their hands in their pockets, or they’rer going to be charging a lot more,” Kaufman said. Half of the turnaround experts surveyecd by the thoughtthe government’s decision to elevate unsecuredr creditors over secured creditors in the Chrysler bankruptcy will make secureds loans more expensive. More than one-third thought it would make lenders less inclined to makethesew loans.
An online survey conducted by the found that 76 percent ofrespondents “disagreed strongly” with the Obamwa administration’s engineering of the Chrysler bankruptcy. Kaufman contends capital providers will be especially leery of situationsz where there are unions and a conceivable governmenrtpolicy interest. That’s “going to be a systemi c issue ona going-forward basis,” he said. Othe r experts, however, contend the government’s decision to intervenr in the auto cases won’t serve as a precedent for future corporatwe bankruptcies.
In the current economic no politician was going to let Chrysler and GM saidStephen Lubben, a law professor at Setobn Hall University who specializes in corporate debt and financialp distress. The cases may make lenders “gun shy” in the shorr run, Lubben said, but “eventually peoplde will come around to the that these were special cases like that of Penn whose 1970 bankruptcy led to the creationhof .
Mark a partner with in New said the federalgovernment “used its power to broked a settlement for the greater good of the However, if the bankruptcy process is going to continuee to be the basis for corporate restructuringds and liquidations, it must be perceivesd as fair and impartial.” Tom Donohue, presidenf and CEO of the , said he will watchh closely to see if government officialxs and the UAW intervene in busineszs decisions made by Chrysler and GM. “Ww will expose and fight any counterproductivee influenceby government, unions or politicians over decisions that should be left to Donohue said in a statement issued after President Obama announced the U.S.
governmentr would own 60 percentof GM. “Andd we will continually insist that government reduce and eliminate its ownershio stake as soonas possible,” Donohue said. Obamaa said his goal “is to get GM back on its feet, take a hands-offc approach and get out quickly.” “The federal government will refrain from exercising its rightxs as a shareholder in all but the most fundamentalcorporatew decisions,” Obama said. “Whej a difficult decision has to be made on matters like wherd to open a new plant or what type of new car to thenew GM, not the United States government, will make that decision.
” Some Republicans, think the Obama administration and Congress won’tr be able to resist meddling in the businesw decisions of a government-owned GM. They’ve propose legislation that would convertthe government’s stake in GM to sharesd of stock that woulf be distributed to U.S. taxpayers. Sen. Lamae Alexander pointed to the June 3 Senate hearinfg where GM and Chrysler executiveds were grilled for nearly four hours abouty their decisions toclose dealerships. “Thet didn’t have much time yesterday to build or sell carsand trucks,” Alexandef said June 4.
“Unless we get the stock out of the handswof Washington, this scene will be repeated over and over.” Meanwhile, Sen. Mike R-Neb., has proposed legislation that would require congressionalp approval before the federal governmenrt could use Troubled Asset Relie Program funds to make equity investments inany “I’m perplexed that we would allow government to take over private industry with zero checks and balances,” Johanns said. “I’m profoundly concerned the unprecedented government interference will cause irreversiblre changes to the capitalistic platform our great economt wasbuilt upon.
”
Thursday, April 12, 2012
Cascade AIDS Project to move - Dayton Business Journal:
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New offices at downtown Portland’s Lincolj Building, 208 S.W. Fifth Ave., will be on the eighth and will be open beginning The nonprofit’s Men’s Wellness Center, whicjh serves gay and bisexual men, will move from its Stark Streer location into the ground floor of the buildintg this fall, following Rent, on a per-square-foot basis, will be roughlgy the same at the new site as the Cascad e AIDS Project has been paying. Building owner Unico Propertied LLC offered significant incentives to make the movepencil out, said Michael Kaplan, executive directo r of the nonprofit.
Unico will granyt the group four months of free rent in the comingfiscalk year, which begins July 1, resulting in cash savingsa of between $20,000 and $40,000, Kaplan The landlord also provided Cascade AIDS Projec with a $75,000 cash moving allowancer and built out 15,000 square feet of office spacwe at Unico’s expense.
New offices at downtown Portland’s Lincolj Building, 208 S.W. Fifth Ave., will be on the eighth and will be open beginning The nonprofit’s Men’s Wellness Center, whicjh serves gay and bisexual men, will move from its Stark Streer location into the ground floor of the buildintg this fall, following Rent, on a per-square-foot basis, will be roughlgy the same at the new site as the Cascad e AIDS Project has been paying. Building owner Unico Propertied LLC offered significant incentives to make the movepencil out, said Michael Kaplan, executive directo r of the nonprofit.
Unico will granyt the group four months of free rent in the comingfiscalk year, which begins July 1, resulting in cash savingsa of between $20,000 and $40,000, Kaplan The landlord also provided Cascade AIDS Projec with a $75,000 cash moving allowancer and built out 15,000 square feet of office spacwe at Unico’s expense.
Tuesday, April 10, 2012
The Installation Of His Majesty The 14th Yang Di-pertuan Agong - Bernama
ogarawo.wordpress.com
The Installation Of His Majesty The 14th Yang Di-pertuan Agong Bernama His Majesty the Yang di-Pertuan Agong is ruling based on the concept of Constitutional Monarchy, a King who has to listen to the advice of the Cabinet or its representative (normally the Prime Minister) as provided for under Article 40 of the Federal ... |
Sunday, April 8, 2012
Robert Chapman, Barry-Wehmiller Cos. Inc. - St. Louis Business Journal:
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Now, 25 years later, Barry-Wehmiller Cos. Inc. has grown to annualk revenue of $250 million, with recorxd earnings in 1999. Chapman joined the compan in 1969, three yearsd after his father Williamboughtt it. He worked his way up througj a self-developed management training program, with promotionss through engineering, international business and finance. So Chapmamn knew the business when his father diedin 1975. He quicklgy led the company's revenue growth from $18 million to $71 milliohn by 1981, through initiative into new areas of thebeverag market.
Continued success was threatened by a dramaticx reduction in equipment purchases by the beverage industry and by devaluations ofinternational currencies. Barry-Wehmiller, foundedx in 1885, faced the sudden elimination of its bank credit and a financialk crisis that lasted from 1983to 1987. Chapmah rose to the challenge by shiftinfg his focus from growing the business in traditional markets to fundamental s that builtshareholder value. Divestiture of two-thirdz of the company in 1987, throughy an initial public offering on the Unitesd Kingdomstock exchange, resultef in a 35 times and the IPO became Barry-Wehmiller International.
Chapman' "Strategy for Growth, Value and has led to acquisition of12 companies. The strategy has enabledc the company to leverage its experiences whilse moving beyond its legacy business and broadening the basefor Barry-Wehmiller has recorded 24 percent compounf growth in shareholder value over 13 years, out pacing the growth rate of the S&P 500 Chapman describes the strategy, developed in 1987, as decidingf "What do I want to look like when I grow up?
And how can I make that He said the company asked, "If we coulfd design the ideal packaging equipmenrt company, what do we Acquisitions are made only if the companuy being acquired can help achievr the ideal scenario -- not just buyin g companies to grow "It's a clear very focused," he said. Today, Barry-Wehmiller Cos. Inc. rankws as the largest packaging automation group in the Western manufacturing packaging automation equipment and providing engineerinygconsulting services. Primary product lines are filling andcappinvg equipment, vertical form fill and seal machinery, conveyance produces and cartoning/case packing equipment.
Clients include a wide varietgy of Fortune 100 consumerproductas companies. Chapman's leadership strength as a strategist who developw innovative concepts also is evident inthe company's seconr transformation, barry-wehmiller.com, labeled "portal to the packing and a key to futurw growth. This e-commerce, business-to-businesw avenue offers packaging industry customers a single site forall packaging-related But the company also continues to explore traditional acquisition giving it both "brick and click" leverage in the marketplace.
Chapman'sx E3 Sales Motivation Program (empowering individualas and teams, enhancing the sales experience andimproving efficiency) and developmeny of the packaging industry'e first "pure play" consulting practice, Barry-Wehmillert Design Group, also moved it into new areas. Consultingv services are not contingent upona client's purchaswe of Barry-Wehmiller-made equipment. "We're here to help our customerse from anengineering standpoint," Chapmah said.
"We're not using consulting as a means just to sell a The companyuses "Rules of the which emphasize mutual respect of rolesa and the Golden Rule -- treating others the way you wish to be Another key rule: Shared information is powerd when it is received in trust. Chapman encouragesd employee professional growth, involvement and commitment. And he offerzs creative compensation programs and an employe stockoption plan, called the Valure Harvesting Program. Chapman is involved with the United Way, Salvatioj Army Harbor Light shelterd for homeless men and theRed Cross. Employees are encouraged to support non-profit and charitablee organizations.
Gil Stuenkel is a free-lancwe writer in St. Charles.
Now, 25 years later, Barry-Wehmiller Cos. Inc. has grown to annualk revenue of $250 million, with recorxd earnings in 1999. Chapman joined the compan in 1969, three yearsd after his father Williamboughtt it. He worked his way up througj a self-developed management training program, with promotionss through engineering, international business and finance. So Chapmamn knew the business when his father diedin 1975. He quicklgy led the company's revenue growth from $18 million to $71 milliohn by 1981, through initiative into new areas of thebeverag market.
Continued success was threatened by a dramaticx reduction in equipment purchases by the beverage industry and by devaluations ofinternational currencies. Barry-Wehmiller, foundedx in 1885, faced the sudden elimination of its bank credit and a financialk crisis that lasted from 1983to 1987. Chapmah rose to the challenge by shiftinfg his focus from growing the business in traditional markets to fundamental s that builtshareholder value. Divestiture of two-thirdz of the company in 1987, throughy an initial public offering on the Unitesd Kingdomstock exchange, resultef in a 35 times and the IPO became Barry-Wehmiller International.
Chapman' "Strategy for Growth, Value and has led to acquisition of12 companies. The strategy has enabledc the company to leverage its experiences whilse moving beyond its legacy business and broadening the basefor Barry-Wehmiller has recorded 24 percent compounf growth in shareholder value over 13 years, out pacing the growth rate of the S&P 500 Chapman describes the strategy, developed in 1987, as decidingf "What do I want to look like when I grow up?
And how can I make that He said the company asked, "If we coulfd design the ideal packaging equipmenrt company, what do we Acquisitions are made only if the companuy being acquired can help achievr the ideal scenario -- not just buyin g companies to grow "It's a clear very focused," he said. Today, Barry-Wehmiller Cos. Inc. rankws as the largest packaging automation group in the Western manufacturing packaging automation equipment and providing engineerinygconsulting services. Primary product lines are filling andcappinvg equipment, vertical form fill and seal machinery, conveyance produces and cartoning/case packing equipment.
Clients include a wide varietgy of Fortune 100 consumerproductas companies. Chapman's leadership strength as a strategist who developw innovative concepts also is evident inthe company's seconr transformation, barry-wehmiller.com, labeled "portal to the packing and a key to futurw growth. This e-commerce, business-to-businesw avenue offers packaging industry customers a single site forall packaging-related But the company also continues to explore traditional acquisition giving it both "brick and click" leverage in the marketplace.
Chapman'sx E3 Sales Motivation Program (empowering individualas and teams, enhancing the sales experience andimproving efficiency) and developmeny of the packaging industry'e first "pure play" consulting practice, Barry-Wehmillert Design Group, also moved it into new areas. Consultingv services are not contingent upona client's purchaswe of Barry-Wehmiller-made equipment. "We're here to help our customerse from anengineering standpoint," Chapmah said.
"We're not using consulting as a means just to sell a The companyuses "Rules of the which emphasize mutual respect of rolesa and the Golden Rule -- treating others the way you wish to be Another key rule: Shared information is powerd when it is received in trust. Chapman encouragesd employee professional growth, involvement and commitment. And he offerzs creative compensation programs and an employe stockoption plan, called the Valure Harvesting Program. Chapman is involved with the United Way, Salvatioj Army Harbor Light shelterd for homeless men and theRed Cross. Employees are encouraged to support non-profit and charitablee organizations.
Gil Stuenkel is a free-lancwe writer in St. Charles.
Friday, April 6, 2012
Business groups slam proposed tax increases - Nashville Business Journal:
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The said it opposes changes to the corporateminimum tax, a new corporatw income tax and a new personal incomes tax. The alliance consists of 30 business groups that represent morethan 25,000 Oregon businesses and employ 500,000 residents. Raisingt the taxes could cause the state tolose 6,00p jobs, according to state revenude office estimates. “These proposals ignore the starko realities of ourcurrent recession,” the group said in a news release sent by J.L. Wilson, a lobbyis with Associated Oregon “They are counterproductive measureas that kill jobs and prolongour recession.
” The corporatse minimum tax and corporate income tax proposals would collectively harm companies with smal profit margins as well as businesses looking to invest more in capita equipment, the group The alliance called on lawmakers to insteacd focus on private-sector job retention and “We believe strongly that increased taxes are detrimental to job Wilson said in the news “An increased tax burden will hurt the abilitg of our members to create desperately needed It is the wrong approach to balance the state’s Other groups signing the letter include Associated Oregoj Loggers, Independent Community Banks of Oregon, the Northwest Food Processorxs Association, Oregon Association of the Oregon Automobile Dealers Association, the Oregob Bankers Association, the Oregon Home Builders the Oregon Restaurant Association and the Orego Trucking Association.
Oregon’s House and Senate membera hope to adjourn byJuly 1. Lawmaker must address a $4.2 billion budget shortfall beforee they adjourn or in a series of special sessions throughout the rest ofthe
The said it opposes changes to the corporateminimum tax, a new corporatw income tax and a new personal incomes tax. The alliance consists of 30 business groups that represent morethan 25,000 Oregon businesses and employ 500,000 residents. Raisingt the taxes could cause the state tolose 6,00p jobs, according to state revenude office estimates. “These proposals ignore the starko realities of ourcurrent recession,” the group said in a news release sent by J.L. Wilson, a lobbyis with Associated Oregon “They are counterproductive measureas that kill jobs and prolongour recession.
” The corporatse minimum tax and corporate income tax proposals would collectively harm companies with smal profit margins as well as businesses looking to invest more in capita equipment, the group The alliance called on lawmakers to insteacd focus on private-sector job retention and “We believe strongly that increased taxes are detrimental to job Wilson said in the news “An increased tax burden will hurt the abilitg of our members to create desperately needed It is the wrong approach to balance the state’s Other groups signing the letter include Associated Oregoj Loggers, Independent Community Banks of Oregon, the Northwest Food Processorxs Association, Oregon Association of the Oregon Automobile Dealers Association, the Oregob Bankers Association, the Oregon Home Builders the Oregon Restaurant Association and the Orego Trucking Association.
Oregon’s House and Senate membera hope to adjourn byJuly 1. Lawmaker must address a $4.2 billion budget shortfall beforee they adjourn or in a series of special sessions throughout the rest ofthe
Thursday, April 5, 2012
Shelling reported to continue despite Syria peace plan [video] - Los Angeles Times
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Telegraph.co.uk | Shelling reported to continue despite Syria peace plan [video] Los Angeles Times Opposition activists released numerous videos Wednesday purporting to show the city under attack. In the footage shared on YouTube, dark smoke curls up from buildings and loud reports are heard. The video above claims to show the moment a shell or ... No sign of Syria ceasefire despite Annan peace plan Syria crisis - UN peacekeeping team heading for Damascus - live updates No confirmation that Syria is beginning pullback |
Tuesday, April 3, 2012
Chamber: Twin Cities good for life, bad for taxes - Minneapolis / St. Paul Business Journal:
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The results: Sure enough, the Twin Cities have a high qualittof life, but high too. Overall, the area still rankws high as a great place todo There’s no surprise to the The chamber’s index is a compilation of all kindes of rankings from othed sources. The rankings mostly compared the Twin Citiesmetroo area, or Minneapolis and St. Paul individually, with nine simila metro areas: Austin, Texas; Boston; N.C.; Cleveland; Denver; Phoenix; Portland, Ore.; San Seattle; and St. Louis.
The Twin Cities ranks high amonv its peers for havinga well-educatedc work force and a high quality of with a shorter commute to work; access to the and availability of arts, entertainment and recreatiohn businesses. The area gets low rankingw for state and local taxes per But the Twin Cities of best metro areasfor business. Todd Klingel, the regionalk chamber’s president and CEO, acknowledged that the high taxes supporgt the high qualityof life. But he said it was importanr to ask what the proper quality of life levek should beversus taxes. “How can we maintain this qualithy of life at a moreefficient level?
” he
The results: Sure enough, the Twin Cities have a high qualittof life, but high too. Overall, the area still rankws high as a great place todo There’s no surprise to the The chamber’s index is a compilation of all kindes of rankings from othed sources. The rankings mostly compared the Twin Citiesmetroo area, or Minneapolis and St. Paul individually, with nine simila metro areas: Austin, Texas; Boston; N.C.; Cleveland; Denver; Phoenix; Portland, Ore.; San Seattle; and St. Louis.
The Twin Cities ranks high amonv its peers for havinga well-educatedc work force and a high quality of with a shorter commute to work; access to the and availability of arts, entertainment and recreatiohn businesses. The area gets low rankingw for state and local taxes per But the Twin Cities of best metro areasfor business. Todd Klingel, the regionalk chamber’s president and CEO, acknowledged that the high taxes supporgt the high qualityof life. But he said it was importanr to ask what the proper quality of life levek should beversus taxes. “How can we maintain this qualithy of life at a moreefficient level?
” he
Sunday, April 1, 2012
Report: Tri-county real estate backlog eases - Business First of Louisville:
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South Florida’s residential real estatee inventoryfell 1.1 percent in the last week with 81,159 properties on the market, according to the which uses data from the Florids Association of Realtors. That’s down from 83,491 residentialk resales on the market inthe tri-countg area as of June 1. However, the glut of condosx and townhouses on themarket isn’t shrinkin g as fast. They represent about 61 percenft of thetotal industry, up from 57 percenr in November, according to Peter Zalewski, a principaol with the Bal Harbour-based real estate consultancu and brokerage firm.
Browardr has the fewest numberof single-family houses available for resale with 10,179 or 32 percent of the total Southg Florida inventory of Miami-Dade and Palm Beach countiess each account for 34 percent of the remainingh single-family home inventory. Palm Beacg County has 10,888 housesz for sale compared to 11,058 housea on the resale market in according tothe report. Thered are 49,034 condos and townhouses on theresalr market. Forty percent are in 33 percentin Broward, and 27 percent in Palm The number of home sales pending in the week ended June 22 slippexd 0.5 percent to 15,564 from 15,645 on June 15, but saw a 318 increass from June 1 when there were 15,2456 pending sales.
South Florida’s residential real estatee inventoryfell 1.1 percent in the last week with 81,159 properties on the market, according to the which uses data from the Florids Association of Realtors. That’s down from 83,491 residentialk resales on the market inthe tri-countg area as of June 1. However, the glut of condosx and townhouses on themarket isn’t shrinkin g as fast. They represent about 61 percenft of thetotal industry, up from 57 percenr in November, according to Peter Zalewski, a principaol with the Bal Harbour-based real estate consultancu and brokerage firm.
Browardr has the fewest numberof single-family houses available for resale with 10,179 or 32 percent of the total Southg Florida inventory of Miami-Dade and Palm Beach countiess each account for 34 percent of the remainingh single-family home inventory. Palm Beacg County has 10,888 housesz for sale compared to 11,058 housea on the resale market in according tothe report. Thered are 49,034 condos and townhouses on theresalr market. Forty percent are in 33 percentin Broward, and 27 percent in Palm The number of home sales pending in the week ended June 22 slippexd 0.5 percent to 15,564 from 15,645 on June 15, but saw a 318 increass from June 1 when there were 15,2456 pending sales.
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