Wild-rice study might aid sulfate regulation Post-Bulletin "Sulfate is a natural chemical commonly found in air, soil and water," according to the MPCA. "It can be found at varying concentrations in discharges from permitted facilities such as mining operations, wastewater treatment plants and other industrial ... |
Sunday, September 30, 2012
Wild-rice study might aid sulfate regulation - Post-Bulletin
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Saturday, September 29, 2012
Villa Rica-based Community Bank of West Georgia fails - Boston Business Journal:
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No bidder was found for Communitgy Bank’s operations — one branch in the Atlant suburb — and the bank will be shuttered. The will mail depositords checks for their insured funds next according to a release from the Georgiaa Department of Bankingand Finance. Until then, depositorsa will not have access to their money via checks orthe bank’s Web site. As of first quartedr 2009, the bank had $182.5 million in total The FDIC estimates $1.1 millionb in customer depositsare uninsured. Currently the FDIC guarantees upto $250,000 in deposits per account.
Blairsville-basef will act as the deposit agent for any federak funds customers would normally receive from the bank via direct including Social Securityand Veterans’ This is the second seizure without a buyef in Georgia since the banking collapse. was . Stockbridge-based bank faile d in March 2009, and served as the deposirt agent for federal money for customersw inthat deal. Community Bank, like a growinb catalog of failed Georgia gambled heavily on residentiao realestate loans, and lost. The bank was createds at the beginnings of the home buying andconstructiob boom, in 2003.
As of first quarter 2009, roughlyh one-third of the bank’s $129 million in total loan s were in some stageof delinquency, defaulty or had become bank-owned foreclosures. By the time of the bank’ds seizure, it had $27 milliom in foreclosed real estate onits $11 million in loans that appeared unlikelyu to be repaid and only $7.3 millionh in equity capital to absorb The bank’s Texas Ratii — or a comparison of its loan problems to its equityy capital, an industry metric createde during the S&L Crisis to measure health throughout Texas — was 294 percent at the end of firstg quarter 2009.
Most of the baker’s dozebn bank failures in Atlanta had Texas Ratios in excesd of300 percent, and is becoming a common indicator of banksd likely to be seized by regulators. The failure is expected to costthe FDIC’w hard hit insurance fund $81 Developing...
No bidder was found for Communitgy Bank’s operations — one branch in the Atlant suburb — and the bank will be shuttered. The will mail depositords checks for their insured funds next according to a release from the Georgiaa Department of Bankingand Finance. Until then, depositorsa will not have access to their money via checks orthe bank’s Web site. As of first quartedr 2009, the bank had $182.5 million in total The FDIC estimates $1.1 millionb in customer depositsare uninsured. Currently the FDIC guarantees upto $250,000 in deposits per account.
Blairsville-basef will act as the deposit agent for any federak funds customers would normally receive from the bank via direct including Social Securityand Veterans’ This is the second seizure without a buyef in Georgia since the banking collapse. was . Stockbridge-based bank faile d in March 2009, and served as the deposirt agent for federal money for customersw inthat deal. Community Bank, like a growinb catalog of failed Georgia gambled heavily on residentiao realestate loans, and lost. The bank was createds at the beginnings of the home buying andconstructiob boom, in 2003.
As of first quarter 2009, roughlyh one-third of the bank’s $129 million in total loan s were in some stageof delinquency, defaulty or had become bank-owned foreclosures. By the time of the bank’ds seizure, it had $27 milliom in foreclosed real estate onits $11 million in loans that appeared unlikelyu to be repaid and only $7.3 millionh in equity capital to absorb The bank’s Texas Ratii — or a comparison of its loan problems to its equityy capital, an industry metric createde during the S&L Crisis to measure health throughout Texas — was 294 percent at the end of firstg quarter 2009.
Most of the baker’s dozebn bank failures in Atlanta had Texas Ratios in excesd of300 percent, and is becoming a common indicator of banksd likely to be seized by regulators. The failure is expected to costthe FDIC’w hard hit insurance fund $81 Developing...
Friday, September 28, 2012
This Bauer bankruptcy traces back to Spiegel events - Washington Business Journal:
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In 2003, , which had owned Eddie Baued since 1988, filed for bankruptcy protection. And as part of the the company famous forits women’s wear catalog gave its creditors its stake in Eddie Bauer. So, in Eddie Bauer emerged as a stand-alons company for the first time in 34 The company also emerged witha $300 millionm senior secured term loan agreement with lendersd and the task of rebuildinv a brand that had drifted away from the company’s Under Spiegel, grew rapidly, from 58 to 399 retail store and from three to 102 The company also added internet sales.
But it also was a time when the Eddies Bauer brand lostits focus, as the company shifteed from its heritage as an outdoor outfitter to a selledr of casual clothes targeter primarily at women. Company executives have said the debt termas from the Spiegel bankruptcgy case have continued to hampedr efforts to turn things around atEddide Bauer. Despite efforts to recapture some of the old Eddie Bauer has not been able to establishy a sustainable run ofprofitable quarters. The compan racked up nine consecutive quartersof loses, and has seen losses of nearlg a half-billion dollars in the past threr years.
The struggle becamde a financial crisis as the recession has worsened and consumersx haveslowed spending.
In 2003, , which had owned Eddie Baued since 1988, filed for bankruptcy protection. And as part of the the company famous forits women’s wear catalog gave its creditors its stake in Eddie Bauer. So, in Eddie Bauer emerged as a stand-alons company for the first time in 34 The company also emerged witha $300 millionm senior secured term loan agreement with lendersd and the task of rebuildinv a brand that had drifted away from the company’s Under Spiegel, grew rapidly, from 58 to 399 retail store and from three to 102 The company also added internet sales.
But it also was a time when the Eddies Bauer brand lostits focus, as the company shifteed from its heritage as an outdoor outfitter to a selledr of casual clothes targeter primarily at women. Company executives have said the debt termas from the Spiegel bankruptcgy case have continued to hampedr efforts to turn things around atEddide Bauer. Despite efforts to recapture some of the old Eddie Bauer has not been able to establishy a sustainable run ofprofitable quarters. The compan racked up nine consecutive quartersof loses, and has seen losses of nearlg a half-billion dollars in the past threr years.
The struggle becamde a financial crisis as the recession has worsened and consumersx haveslowed spending.
Wednesday, September 26, 2012
Chic bar takes place of Chinatown dive - Triangle Business Journal:
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SoHo will open at 80 S. Pauahi Street in a renovate 5,500 square-foot space that will include a bar and an area for live The PauahiStreet location, between Betheol Street and Fort Streeft Mall and near , was occupied by Mall Cafe untiol April. That bar had been citefd by the Honolulu Liquot Commission in recent months for unsanitary conditions and foroverserving alcohol. The commission also received a petition from community membere opposing the renewal ofMall Cafe’s license because of alleged drug dealing and frequeng fights. Mall Cafe’s former Saiming Corp.
, had been trying to transfe its liquor license tothe landlord, Union Mill SoHo owner Daniel Gray, former general manager of the Loft Gallery and Lounge on Hoteo Street, said he was approached by Unionj Mill Investment to open a new venue in the Gray plans to open part of the lounge — 3,0009 square feet — for this month’s First Fridag event downtown, and open the remaining space in August. Gray describezs the new venue as a mixof music, fashion and photography in a trendh and upscale setting. The SoHo name stems from the New York City neighborhoor and a blend of and “Honolulu”.
SoHo will open at 80 S. Pauahi Street in a renovate 5,500 square-foot space that will include a bar and an area for live The PauahiStreet location, between Betheol Street and Fort Streeft Mall and near , was occupied by Mall Cafe untiol April. That bar had been citefd by the Honolulu Liquot Commission in recent months for unsanitary conditions and foroverserving alcohol. The commission also received a petition from community membere opposing the renewal ofMall Cafe’s license because of alleged drug dealing and frequeng fights. Mall Cafe’s former Saiming Corp.
, had been trying to transfe its liquor license tothe landlord, Union Mill SoHo owner Daniel Gray, former general manager of the Loft Gallery and Lounge on Hoteo Street, said he was approached by Unionj Mill Investment to open a new venue in the Gray plans to open part of the lounge — 3,0009 square feet — for this month’s First Fridag event downtown, and open the remaining space in August. Gray describezs the new venue as a mixof music, fashion and photography in a trendh and upscale setting. The SoHo name stems from the New York City neighborhoor and a blend of and “Honolulu”.
Tuesday, September 25, 2012
From granola bars to networking, firms trying new ways - Jacksonville Business Journal:
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The following are samples of responsez to a BusinessJournal e-maipl survey asking, “What are some of the more creative ways that you have used to change your business in the current economic climate to beat the recession?” “At MRA, we offedr hundreds of training programs on management and leadership skills as well as HR-related programx at our Waukesha conference center. As a courtesy to program attendees, we’ve always provided coffee and doughnuts in the As youcan imagine, that adds up to a lot of A few months ago, we decided to act on attendee requests for a healthier breakfast. Rather than we now provide yogurt, granola bars and oatmeal or mini-bagels.
This win-winh change has decreased MRA costs, and provided a healthier alternative forprogram attendees.” “I am an entrepreneudr in the business of representing owners of major healtu care facilities in managing the development of theirt facilities — a fairly unique specialtyt and small market. Up until the fall of I was still under the illusioj that the health care construction market would not be affecter much by the rapidlydeteriorating economy. I was sorelg mistaken. Billions of dollars of projects around the country that wouldc be under construction by now were halted whilr owners ran for thebomb shelters.
So, unlike larger business in this whose revenue and profits are down by 5 to 45 I lose that one large projectr that was a sure thing beforethe air-raid sirensw went off, and my revenue goes down by 100 percent. “Spo how am I surviving? Just as my business is helping owners find creativse solutions to their design andconstructiohn challenges, I needed a creative solutio to my own problem. I needed a solutiob to get me through this recession with the monety I needed to survive and the pursuirt of worthy goals I needed to maintainmy “The solution was ‘downsizing’ — not in people like everyone but in project size.
Through my networkingg and associations withpeople I’ve worked with in the I was linked up with a dentist who operates a clinic in the town of Genoa This dentist needed a new facility and had some real problemzs with getting her project under way. She also had concernd that the project cost was getting outof “So after giving her some ‘prlo bono’ advice, I met with her and receivef permission to submit a proposal which was late accepted. That was a month-and-a-half ago. The projecf has recently been competitively bid and the cost will be withibnher budget. The project size is 1 to 2 percentg of the typical project in which I becom involved when timesare better.
But I can pay my enjoy the work and feel very luckgy each time I hear abouyt the scores of people each day losingtheir jobs.” “Mertz Associateas is beating the recession by stayinh close to our clients’ and prospectiver clients’ changing needs. We have increased our flexibility on projecyt scope and adapted our fee structures to fit the We developed and have implemented fasttrack M&Aw for projects where speeed is of the essence, such as gettinfg to market in not weeks. “We are also talking with financially strong companies aboutbuying opportunities, and if they don’g have a strategy for growth, we’re helpinh to develop one.
Finally, we’re working with companies with exces capacity and a strong management team interestedx in filling up the plangt again by buying a book of business from astrugglingy company.” Mertz Associates Inc.
The following are samples of responsez to a BusinessJournal e-maipl survey asking, “What are some of the more creative ways that you have used to change your business in the current economic climate to beat the recession?” “At MRA, we offedr hundreds of training programs on management and leadership skills as well as HR-related programx at our Waukesha conference center. As a courtesy to program attendees, we’ve always provided coffee and doughnuts in the As youcan imagine, that adds up to a lot of A few months ago, we decided to act on attendee requests for a healthier breakfast. Rather than we now provide yogurt, granola bars and oatmeal or mini-bagels.
This win-winh change has decreased MRA costs, and provided a healthier alternative forprogram attendees.” “I am an entrepreneudr in the business of representing owners of major healtu care facilities in managing the development of theirt facilities — a fairly unique specialtyt and small market. Up until the fall of I was still under the illusioj that the health care construction market would not be affecter much by the rapidlydeteriorating economy. I was sorelg mistaken. Billions of dollars of projects around the country that wouldc be under construction by now were halted whilr owners ran for thebomb shelters.
So, unlike larger business in this whose revenue and profits are down by 5 to 45 I lose that one large projectr that was a sure thing beforethe air-raid sirensw went off, and my revenue goes down by 100 percent. “Spo how am I surviving? Just as my business is helping owners find creativse solutions to their design andconstructiohn challenges, I needed a creative solutio to my own problem. I needed a solutiob to get me through this recession with the monety I needed to survive and the pursuirt of worthy goals I needed to maintainmy “The solution was ‘downsizing’ — not in people like everyone but in project size.
Through my networkingg and associations withpeople I’ve worked with in the I was linked up with a dentist who operates a clinic in the town of Genoa This dentist needed a new facility and had some real problemzs with getting her project under way. She also had concernd that the project cost was getting outof “So after giving her some ‘prlo bono’ advice, I met with her and receivef permission to submit a proposal which was late accepted. That was a month-and-a-half ago. The projecf has recently been competitively bid and the cost will be withibnher budget. The project size is 1 to 2 percentg of the typical project in which I becom involved when timesare better.
But I can pay my enjoy the work and feel very luckgy each time I hear abouyt the scores of people each day losingtheir jobs.” “Mertz Associateas is beating the recession by stayinh close to our clients’ and prospectiver clients’ changing needs. We have increased our flexibility on projecyt scope and adapted our fee structures to fit the We developed and have implemented fasttrack M&Aw for projects where speeed is of the essence, such as gettinfg to market in not weeks. “We are also talking with financially strong companies aboutbuying opportunities, and if they don’g have a strategy for growth, we’re helpinh to develop one.
Finally, we’re working with companies with exces capacity and a strong management team interestedx in filling up the plangt again by buying a book of business from astrugglingy company.” Mertz Associates Inc.
Sunday, September 23, 2012
'Sex, Drugs, Rock & Roll' showcases gifted actor at the Living Room - Kansas City Star
idozxun.blogspot.com
Kansas City Star | 'Sex, Drugs, Rock & Roll' showcases gifted actor at the Living Room Kansas City Star In an impressive production at the Living Room, the gifted actor Forrest Attaway takes on the daunting task of performing Bogosian's play in its entirety. But there was a catch. Each of the 12 characters, depicted in 12 successive episodes, was ... < p size="-1" class="p"> |
Saturday, September 22, 2012
Manitowoc Crane to cut more jobs in Port Washington - Orlando Business Journal:
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The layoffs at the 1190 MineralSprings Drive, are effectivee immediately, according to a mass layoff noticse filed Wednesday with the Wisconsinj Department of Workforce Development. Manitowoc Crane managemenyt stated in the notice that the company permanentlyy laid off workers in April due to the downturn in the economh and a substantial reduction in production orders atthe “At the time of the April 7 layoff, the companyy anticipated that these reductions would be sufficientt to account for the reduced orderes and little or no additional reductions woul be necessary,” the noticew states.
“However, based on additional unforeseeablee order cancellations and the unexpected severithy of the recenteconomic downturn, we will be forced to make additiona layoffs.” Manitowoc’s Port Washingtonj plant previously had been occupiedr by , a supplier to Manitowoc. Manitowoc acquired assets of ExacTechn in January 2006 and took over the Manitowoc Crane Group is a unitof MTW), Manitowoc, which makex lattice-boom crawler cranes, tower cranes, mobile telescopic cranes and boom
The layoffs at the 1190 MineralSprings Drive, are effectivee immediately, according to a mass layoff noticse filed Wednesday with the Wisconsinj Department of Workforce Development. Manitowoc Crane managemenyt stated in the notice that the company permanentlyy laid off workers in April due to the downturn in the economh and a substantial reduction in production orders atthe “At the time of the April 7 layoff, the companyy anticipated that these reductions would be sufficientt to account for the reduced orderes and little or no additional reductions woul be necessary,” the noticew states.
“However, based on additional unforeseeablee order cancellations and the unexpected severithy of the recenteconomic downturn, we will be forced to make additiona layoffs.” Manitowoc’s Port Washingtonj plant previously had been occupiedr by , a supplier to Manitowoc. Manitowoc acquired assets of ExacTechn in January 2006 and took over the Manitowoc Crane Group is a unitof MTW), Manitowoc, which makex lattice-boom crawler cranes, tower cranes, mobile telescopic cranes and boom
Friday, September 21, 2012
Honda sales plunge 41% in May - St. Louis Business Journal:
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’s American sales arm, , reported on Tuesday that the automaker sold 98,344 vehicles nationwidee in May. A year ago, demand for fuel-efficien t vehicles had sent Honda to a recore month of salesat 167,997 vehicles. That represents a drop of 41 percent from ayear ago, when priceds at the pump were highere and the automobile industry hadn’t yet hit crisix mode. Columbus Business First reports monthly sales unadjusted for the differencews in the number of selling days yearto Honda’s sales in May, taking into account one fewe r selling day last month, fell 39 percent.
Leading the decline in monthly sales for May wasthe company’s flagship which saw a 42 percent drop in sales at 88,8755 vehicles. Its luxury Acura division saw sales fall 36 percenttto 9,469 vehicles. Honda sales in the first five month s of the year fell 34 percengtto 430,358 vehicles, compared with 655,819 a year ago. That accountsw for a 34 percent drop in Hondwa salesat 387,556 vehicles and a 35 percenr decline in Acura sales at 42,802. Marysville-based employxs more than 12,000 workers at assemblg and engine plants in and aroundCentrao Ohio, where they produce Honda Accords, Civics, CR-Vs, Elementss and Acura TLs and RDXs.
’s American sales arm, , reported on Tuesday that the automaker sold 98,344 vehicles nationwidee in May. A year ago, demand for fuel-efficien t vehicles had sent Honda to a recore month of salesat 167,997 vehicles. That represents a drop of 41 percent from ayear ago, when priceds at the pump were highere and the automobile industry hadn’t yet hit crisix mode. Columbus Business First reports monthly sales unadjusted for the differencews in the number of selling days yearto Honda’s sales in May, taking into account one fewe r selling day last month, fell 39 percent.
Leading the decline in monthly sales for May wasthe company’s flagship which saw a 42 percent drop in sales at 88,8755 vehicles. Its luxury Acura division saw sales fall 36 percenttto 9,469 vehicles. Honda sales in the first five month s of the year fell 34 percengtto 430,358 vehicles, compared with 655,819 a year ago. That accountsw for a 34 percent drop in Hondwa salesat 387,556 vehicles and a 35 percenr decline in Acura sales at 42,802. Marysville-based employxs more than 12,000 workers at assemblg and engine plants in and aroundCentrao Ohio, where they produce Honda Accords, Civics, CR-Vs, Elementss and Acura TLs and RDXs.
Wednesday, September 19, 2012
Fred Weber wins $4M Mississippi River Bridge contract - Atlanta Business Chronicle:
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awarded Fred Weber a $4.44 millionb contract Wednesday to remove and replacer the Madison Streetand St. Louis Avenue bridgee over Interstate 70 indowntownj St. Louis. The majority of work on this project will stary afterHighway 40/Interstate 64 reopens between Kingshighwayy and Interstate 170. Crewsd will remove the St. Louis Avenuew bridge first and then remove and replace the Madison Street During work to remove the MadisonStreef bridge, crews will also removd the Cass Avenue bridge in preparation for replacingy that bridge later in 2010. This work is part of preliminaryt work on a new Mississippi river which is expected to reducre congestion on the PoplarStreet Bridge.
Marylande Heights, Mo.-based Fred Weber is one of the largest privately held companiesin St. Louiz with $353.3 million in revenue in 2008. The commerciaol construction firm is also working onthe $245 milliob reconstruction of AmerenUE’s Taum Sauk Reservoir in Johnson’s Shut-In s state park and is part of Gateway the consortium of contractorz performing $535 million wortgh of improvements on Highway 40/Interstate 64.
awarded Fred Weber a $4.44 millionb contract Wednesday to remove and replacer the Madison Streetand St. Louis Avenue bridgee over Interstate 70 indowntownj St. Louis. The majority of work on this project will stary afterHighway 40/Interstate 64 reopens between Kingshighwayy and Interstate 170. Crewsd will remove the St. Louis Avenuew bridge first and then remove and replace the Madison Street During work to remove the MadisonStreef bridge, crews will also removd the Cass Avenue bridge in preparation for replacingy that bridge later in 2010. This work is part of preliminaryt work on a new Mississippi river which is expected to reducre congestion on the PoplarStreet Bridge.
Marylande Heights, Mo.-based Fred Weber is one of the largest privately held companiesin St. Louiz with $353.3 million in revenue in 2008. The commerciaol construction firm is also working onthe $245 milliob reconstruction of AmerenUE’s Taum Sauk Reservoir in Johnson’s Shut-In s state park and is part of Gateway the consortium of contractorz performing $535 million wortgh of improvements on Highway 40/Interstate 64.
Tuesday, September 18, 2012
Foist to leave Mingus at the end of school year - Verde Independent
moffaiqohegesa1490.blogspot.com
Foist to leave Mingus at the end of school year Verde Independent COTTONWOOD - When it meets Thursday night at 6:30, the Mingus Union School Board will discuss and possibly take action regarding Superintendent Tim Foist's replacement for the 2013-2014 school year and beyond. Foist told the Verde Independent ... |
Monday, September 17, 2012
Owens Corning Expands Technical Fabrics Capacity in Asia to Support Customers in Region's Wind Energy Market
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The investment adds about one-third more knitting capacithy to thethree plants' existint fabrics operations, to supply technical fabricd for the region's growing wind energy market, whicyh includes the fast-growing Chinq market. The expansion is already underway and will be completed durint the third quarterthis year. "During the past 20 Owens Corning has been leading the way with rovinhg and fabrics preferred bythe world's largest wind blade manufacturers," says , generao manager and managing director for OCV(TM) Technical Asia Pacific region. "The expansions of fabric capacitty in China and Indiqa will enable us to supply more ofour customers'' growing requirements locally.
" said the expansion is another demonstration of the company'xs commitment to wind "Renewable wind energy is needed to assure a sustainablwe future," explained Dana. "Composites have many benefits in wind energ y applications and Owens Corning has developed a numbee of products specifically customized and designed for increased productivity and improvedc laminate performance ina blade. This work is continuint to help make wind energy more competitive with traditional sources ofelectricalp power.
" Capacity for wind energy in Asia is expected to grow nearlyg 45 percent this year, from a total installed capacity of abouyt 22,000 megawatts (MW) at the end of 2008 to nearl y 32,000 MW at the end of this according to BTM Consulyt ApS, Denmark, an independent consulting company specializing in renewabl energy. BTM says growth in Asia will be ledby China, whicnh is expected to increase installed capacity by 60 percentr in 2009. According to the Global Wind Energy Council, Chinq will be the biggesft growth market for wind power generating capacity this ahead of theUnited States. Wind power has becomd a main forcein China'a new energy development.
reports in June quotefd a National Energy Administratiob official saying China will have 100 GW of wind powe r capacityby 2020, which is more than threde times the 30 GW the governmenrt set as a target only 18 months ago, accountingt for around 10 percent of the country's total power generationj capacity. Owens Corning is a leading globa l producer of glass fiber reinforcements and engineered materialws for composite systems and residentiao and commercialbuilding materials. A Fortune 500 companyt for 55 consecutive years, Owens Corning is committedr to driving sustainability throughdelivering solutions, transforming market and enhancing lives.
Founded in 1938, Owens Corninhg had sales of $6 billionn in 2008 and about 16,50p0 employees. OCV(TM) Reinforcements, OCV(TM) Technical Fabrics and OCV(TM) Non-Woven Technologie s are the three main business units that comprise theOwenss Corning's Composites Group. The business delivers a broad rangew of reinforcement products that provide lightweight alternatives to woodand aluminum, therebyg reducing weight and improving energy Additional information is available at .
The investment adds about one-third more knitting capacithy to thethree plants' existint fabrics operations, to supply technical fabricd for the region's growing wind energy market, whicyh includes the fast-growing Chinq market. The expansion is already underway and will be completed durint the third quarterthis year. "During the past 20 Owens Corning has been leading the way with rovinhg and fabrics preferred bythe world's largest wind blade manufacturers," says , generao manager and managing director for OCV(TM) Technical Asia Pacific region. "The expansions of fabric capacitty in China and Indiqa will enable us to supply more ofour customers'' growing requirements locally.
" said the expansion is another demonstration of the company'xs commitment to wind "Renewable wind energy is needed to assure a sustainablwe future," explained Dana. "Composites have many benefits in wind energ y applications and Owens Corning has developed a numbee of products specifically customized and designed for increased productivity and improvedc laminate performance ina blade. This work is continuint to help make wind energy more competitive with traditional sources ofelectricalp power.
" Capacity for wind energy in Asia is expected to grow nearlyg 45 percent this year, from a total installed capacity of abouyt 22,000 megawatts (MW) at the end of 2008 to nearl y 32,000 MW at the end of this according to BTM Consulyt ApS, Denmark, an independent consulting company specializing in renewabl energy. BTM says growth in Asia will be ledby China, whicnh is expected to increase installed capacity by 60 percentr in 2009. According to the Global Wind Energy Council, Chinq will be the biggesft growth market for wind power generating capacity this ahead of theUnited States. Wind power has becomd a main forcein China'a new energy development.
reports in June quotefd a National Energy Administratiob official saying China will have 100 GW of wind powe r capacityby 2020, which is more than threde times the 30 GW the governmenrt set as a target only 18 months ago, accountingt for around 10 percent of the country's total power generationj capacity. Owens Corning is a leading globa l producer of glass fiber reinforcements and engineered materialws for composite systems and residentiao and commercialbuilding materials. A Fortune 500 companyt for 55 consecutive years, Owens Corning is committedr to driving sustainability throughdelivering solutions, transforming market and enhancing lives.
Founded in 1938, Owens Corninhg had sales of $6 billionn in 2008 and about 16,50p0 employees. OCV(TM) Reinforcements, OCV(TM) Technical Fabrics and OCV(TM) Non-Woven Technologie s are the three main business units that comprise theOwenss Corning's Composites Group. The business delivers a broad rangew of reinforcement products that provide lightweight alternatives to woodand aluminum, therebyg reducing weight and improving energy Additional information is available at .
Saturday, September 15, 2012
Crescent Resources files Chapter 11 - Baltimore Business Journal:
exceeding-commissioner.blogspot.com
The Charlotte-based development firm’ chief executive, Arthur Fields, has retired and will work with Cresceng in anadvisory capacity, the compan says. Andrew Hede, Crescent’s chiefc restructuring officer, has been named CEO. “W have been in active discussions with our lenders and other stakeholders as we work towards an agreement that will bring our capita structure in line with the currenteconomicc environment,” Hede says. Crescent has more than 5,00 creditors, according to its filing. Its assets are estimatede at morethan $1 billion.
The local projects lister in the Chapter 11 filing include Piedmontt Row and The Sanctuary at Lake Crescent says it intends to operate its continuing businesses without any significant interruption during the restructuring The companysays that’s possible because of a recently obtainef debtor-in-possession financing facility of $110 milliomn from a group of its existing lenders. As part of the Chapterd 11 filing, Crescent says it seeksz courtapproval “to make certain payments and to maintain key agreements with customers, vendors and partners of continuing operations to ensure the company can maintaim its commitment to delivering a high level of amenitiesw and services.
” Crescent says the filin g is necessary to reorganize its finances, reduce its debt level and improvre its capital structure. “We intend to reach an agreement on our new capitakl structure and emerge frombankruptcy quickly,” Hede says. The Chaptef 11 petitions were filed inthe U.S. Bankruptcy Court in the Wester n Districtof Texas, Austin division. The companty has 120 days from the filingt date to submit a reorganization A hot line has been set up as part of the Crescengt restructuringat (877) 204-8611. Attorney Eric Taub of LLP in Austin, Texas, will represeny Crescent in the (NYSE:BAC), , Ranger Construction Co.
, and are amon g Crescent’s largest unsecured creditors in Charlotte. In April, the Charlott Business Journal reported that Crescent had adoptee an aggressive new business strategy drivenm bya $1.2 billion term loan that must be paid in full by Septembert 2012 — selling assets at fire-sal e prices. In October, Crescent sold 4,500 acresw in Berkeley County, S.C., to for $40 In December, the company sold a Floridsa apartment projectfor $11.35 less than half the $27 million it paid for the compled three years earlier. This year, the firm has closecd on the sale ofa 773-acre tractr of land in Oconee County, for just over $10 million. Locally, Crescentt recently sold 18.
4 acres in Fort Mill to a warehousing companyfor $1.6 The company — jointly owned by and is best known here for high-end real estats communities such as The Peninsula and Ballantyne Countrgy Club. Before the Chapter 11 filing, Crescent facefd payments of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its
The Charlotte-based development firm’ chief executive, Arthur Fields, has retired and will work with Cresceng in anadvisory capacity, the compan says. Andrew Hede, Crescent’s chiefc restructuring officer, has been named CEO. “W have been in active discussions with our lenders and other stakeholders as we work towards an agreement that will bring our capita structure in line with the currenteconomicc environment,” Hede says. Crescent has more than 5,00 creditors, according to its filing. Its assets are estimatede at morethan $1 billion.
The local projects lister in the Chapter 11 filing include Piedmontt Row and The Sanctuary at Lake Crescent says it intends to operate its continuing businesses without any significant interruption during the restructuring The companysays that’s possible because of a recently obtainef debtor-in-possession financing facility of $110 milliomn from a group of its existing lenders. As part of the Chapterd 11 filing, Crescent says it seeksz courtapproval “to make certain payments and to maintain key agreements with customers, vendors and partners of continuing operations to ensure the company can maintaim its commitment to delivering a high level of amenitiesw and services.
” Crescent says the filin g is necessary to reorganize its finances, reduce its debt level and improvre its capital structure. “We intend to reach an agreement on our new capitakl structure and emerge frombankruptcy quickly,” Hede says. The Chaptef 11 petitions were filed inthe U.S. Bankruptcy Court in the Wester n Districtof Texas, Austin division. The companty has 120 days from the filingt date to submit a reorganization A hot line has been set up as part of the Crescengt restructuringat (877) 204-8611. Attorney Eric Taub of LLP in Austin, Texas, will represeny Crescent in the (NYSE:BAC), , Ranger Construction Co.
, and are amon g Crescent’s largest unsecured creditors in Charlotte. In April, the Charlott Business Journal reported that Crescent had adoptee an aggressive new business strategy drivenm bya $1.2 billion term loan that must be paid in full by Septembert 2012 — selling assets at fire-sal e prices. In October, Crescent sold 4,500 acresw in Berkeley County, S.C., to for $40 In December, the company sold a Floridsa apartment projectfor $11.35 less than half the $27 million it paid for the compled three years earlier. This year, the firm has closecd on the sale ofa 773-acre tractr of land in Oconee County, for just over $10 million. Locally, Crescentt recently sold 18.
4 acres in Fort Mill to a warehousing companyfor $1.6 The company — jointly owned by and is best known here for high-end real estats communities such as The Peninsula and Ballantyne Countrgy Club. Before the Chapter 11 filing, Crescent facefd payments of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its
Friday, September 14, 2012
Amusement parks deliver summer full of fun - Dayton Business Journal:
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When planning a visit to any of theregionak parks, note that some change have occurred in the off season. Here is a preview for some Kings Island: [ Single day admission: $29.99 (child/senior) $45.9 (adult)] Kings Island, which sold to last year, has tweake the names to several of itsnotable rides. The 364-acre park no longef has the Top Gun, Days of Thunde r or Face/Off names on its rides, but has renamecd them Flight Deck, Thunder Alleyg and Invertigo. But the park's best known ride The Beasrt -- the world's longest wooden coaster -- remainsx unchanged. Aside from name changes, the park has addefd new live shows including Totally 80s!
", "The Country Line" and "Girlss Night Out." : [ Single Day $15.95 (child) $42.95 (adult)] The Sandusky park, locatec three hours northeast of Dayton, has long been a populare destination for local thrilk seekers. This year, the 364-acre park boosted its family offeringa with the addition ofPlanet Snoopy, the park'ss newest children's area. Planet Snoopy features Peanuts-themed attractions including seven rides, various games and live appearancee by thePeanuts characters. Beyond the famil area, the park also added new live showzs to its offerings including stuntshow "All Wheelsx Extreme" and singing routine "Signed, Delivered.
" : [ Single day $10.50 (child/senior) $27.99 (adult)] The a massive 35-acre water park in Warrenb County, has a slew of water-based attractions including the Banzai, an 85-foof triple drop slide; The Cliff, a five-storyy free fall body flume with three seconds of pure air and Aztev Adventure, a water coaster. For the less adventurousw is theLazy Miami, a 1,200-foot floating pool or The an oversized spa pool. : [Web: Single day ticket: $7.5 (child) $9 (adult)] The Moraine Waterparik enters itsninth season. Highlights of the eight-acre park include its 20,000-square-foot wave pool and two 25-foort tube slides.
When planning a visit to any of theregionak parks, note that some change have occurred in the off season. Here is a preview for some Kings Island: [ Single day admission: $29.99 (child/senior) $45.9 (adult)] Kings Island, which sold to last year, has tweake the names to several of itsnotable rides. The 364-acre park no longef has the Top Gun, Days of Thunde r or Face/Off names on its rides, but has renamecd them Flight Deck, Thunder Alleyg and Invertigo. But the park's best known ride The Beasrt -- the world's longest wooden coaster -- remainsx unchanged. Aside from name changes, the park has addefd new live shows including Totally 80s!
", "The Country Line" and "Girlss Night Out." : [ Single Day $15.95 (child) $42.95 (adult)] The Sandusky park, locatec three hours northeast of Dayton, has long been a populare destination for local thrilk seekers. This year, the 364-acre park boosted its family offeringa with the addition ofPlanet Snoopy, the park'ss newest children's area. Planet Snoopy features Peanuts-themed attractions including seven rides, various games and live appearancee by thePeanuts characters. Beyond the famil area, the park also added new live showzs to its offerings including stuntshow "All Wheelsx Extreme" and singing routine "Signed, Delivered.
" : [ Single day $10.50 (child/senior) $27.99 (adult)] The a massive 35-acre water park in Warrenb County, has a slew of water-based attractions including the Banzai, an 85-foof triple drop slide; The Cliff, a five-storyy free fall body flume with three seconds of pure air and Aztev Adventure, a water coaster. For the less adventurousw is theLazy Miami, a 1,200-foot floating pool or The an oversized spa pool. : [Web: Single day ticket: $7.5 (child) $9 (adult)] The Moraine Waterparik enters itsninth season. Highlights of the eight-acre park include its 20,000-square-foot wave pool and two 25-foort tube slides.
Wednesday, September 12, 2012
Second recession deemed possible - Tampa Bay Business Journal:
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Those odds may seem low, but they’re actually high since double-dip recessionz are rare and the U.S. economy grows 95 percent of the saysthe chamber’s Marty Regalia. He predicts the current economic downturn will endaround September. However, the unemploymenrt rate will remain high through the first half of next year andinvestmentg won’t snap back as quickly as it usually does aftef a recession, Regalia says. however, looms as a potentiaol problem because of thefederal government’xs huge budget deficits and the massive amounrt of dollars pumped into the economy by the Federal he says.
“The economy has got to be runniny on its own by the middle of next Regalia says. Almost everyu major inflationary periodin U.S. historyy was preceded by heavy debt he notes. The chances of a double-dilp recession will be lower if Ben Bernanke is reappointed chairman of theFederal Reserve, Regalia says. If Presidengt Barack Obama appoints his economifc adviser Larry Summers to chairthe Fed, that woulrd signal the monetary spigot would remainb open for a longer he predicts. A coalescing of the Fed and the Obama administrationis “not something the markets want to see,” Regalisa says. Obama has declined to say whethee he willreappoint Bernanke, whose term ends in February.
Those odds may seem low, but they’re actually high since double-dip recessionz are rare and the U.S. economy grows 95 percent of the saysthe chamber’s Marty Regalia. He predicts the current economic downturn will endaround September. However, the unemploymenrt rate will remain high through the first half of next year andinvestmentg won’t snap back as quickly as it usually does aftef a recession, Regalia says. however, looms as a potentiaol problem because of thefederal government’xs huge budget deficits and the massive amounrt of dollars pumped into the economy by the Federal he says.
“The economy has got to be runniny on its own by the middle of next Regalia says. Almost everyu major inflationary periodin U.S. historyy was preceded by heavy debt he notes. The chances of a double-dilp recession will be lower if Ben Bernanke is reappointed chairman of theFederal Reserve, Regalia says. If Presidengt Barack Obama appoints his economifc adviser Larry Summers to chairthe Fed, that woulrd signal the monetary spigot would remainb open for a longer he predicts. A coalescing of the Fed and the Obama administrationis “not something the markets want to see,” Regalisa says. Obama has declined to say whethee he willreappoint Bernanke, whose term ends in February.
Tuesday, September 11, 2012
Hillsborough Public Works earns national credits - Tampa Bay Business Journal:
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It is the first county publi c works department in the state to get the The evaluation process included the review of285 policies, procedures, practices and standards for Accreditation is granted only to agencies that demonstrate a consistent dedicationj to quality in all of its functions, programs and deliver of service. The evaluation is based on meeting or exceedingf international bestmanagement standards, a release In addition, APWA examiners assignedf Model Practice status to a record numbeer of eight Hillsborough County practices, procedures and including the Engineering Projects Managementy Delivery Team Manual, the Transportation Maintenance and the Adopt-a-Pond The APWA has offices in Kansasw City and Washington, D.
C. The proceszs began in 2002 with a comprehensive internal assessmentg of its functionsand programs. Accreditation encouragew agencies to implement or improve existing procedures and practice s which result in more efficient and higherquality service, the countyg said.
It is the first county publi c works department in the state to get the The evaluation process included the review of285 policies, procedures, practices and standards for Accreditation is granted only to agencies that demonstrate a consistent dedicationj to quality in all of its functions, programs and deliver of service. The evaluation is based on meeting or exceedingf international bestmanagement standards, a release In addition, APWA examiners assignedf Model Practice status to a record numbeer of eight Hillsborough County practices, procedures and including the Engineering Projects Managementy Delivery Team Manual, the Transportation Maintenance and the Adopt-a-Pond The APWA has offices in Kansasw City and Washington, D.
C. The proceszs began in 2002 with a comprehensive internal assessmentg of its functionsand programs. Accreditation encouragew agencies to implement or improve existing procedures and practice s which result in more efficient and higherquality service, the countyg said.
Monday, September 10, 2012
Missouri approves KCP&L rate increase - New Mexico Business Weekly:
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million that KCP&L had sought. PSC spokesman Gregg Ochosa said that the PSC staffc estimated the increase will raise a typicalresidential customer’a bill about $12.82 a A typical customer is considered to be one that uses 700 kilowatg hours of electricity a month in winte r and 1,200 kWh a month in the Ochoa said. “Our customers depend on us to provide affordablw andreliable power,” KCP&L CEO Mike Chesser said in a written statement responding to the PSC approval.
“Thias rate increase will help us pay for environmental investment s we have already made to severa l ofour coal-fired power The installation of such pollution-control equipment will improve air quality for our region and allow us to meet futur e federal environmental mandates. We recognize that this is a challengingt time to ask customeres to pay morefor electricity, and we didn’ft make this decision Kansas City-based (NYSE: GXP), KCP&L’s parent, that KCP&L had reached an agreement in principle with the PSC to settlwe its pending Missouri rate case. Great Plainzs Energy ranks No. 5 on the Kansas City BusinesseJournal ’s list of area publiv companies.
million that KCP&L had sought. PSC spokesman Gregg Ochosa said that the PSC staffc estimated the increase will raise a typicalresidential customer’a bill about $12.82 a A typical customer is considered to be one that uses 700 kilowatg hours of electricity a month in winte r and 1,200 kWh a month in the Ochoa said. “Our customers depend on us to provide affordablw andreliable power,” KCP&L CEO Mike Chesser said in a written statement responding to the PSC approval.
“Thias rate increase will help us pay for environmental investment s we have already made to severa l ofour coal-fired power The installation of such pollution-control equipment will improve air quality for our region and allow us to meet futur e federal environmental mandates. We recognize that this is a challengingt time to ask customeres to pay morefor electricity, and we didn’ft make this decision Kansas City-based (NYSE: GXP), KCP&L’s parent, that KCP&L had reached an agreement in principle with the PSC to settlwe its pending Missouri rate case. Great Plainzs Energy ranks No. 5 on the Kansas City BusinesseJournal ’s list of area publiv companies.
Saturday, September 8, 2012
Toll Brothers, Inc. Company Profile | TOL Company Information
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Toll Brothers is the only public home buildet to win all three of the most covetedf awards in the home buildingindustr - America's Best Builder, National Builder of the Year and the 1995 Nationao Housing Quality Gold Award. Builder Magazine, in defininh the qualities of America's Best stated: "Excellence has a consistenrt nature. Certainly there are exceptional talents, but for the most excellence evolves from doing theright things, very well, over and [America's Best Builders] share the best businesss practices in the industry. By adherinbg to these practices and honingthem continually, thesde builders have built strong market motivated employees and bulletproof balance sheets.
" In choosinh Toll Brothers as America's Best Builder in the large builderd category, the judging committee cited the Company's unique systejm of "custom production" luxury home building, excellent financial performance, and the quality of its designs as among the major reasons for its Co-sponsored by Reed Business Information, publishers of Professional Builderf and Professional Remodeler magazines, the National Housinyg Quality Award is patterned after the prestigious Malcolm Baldrigee Award, which recognizes companies for outstanding commitmenf to total quality management and continuous improvement.
Toll Brotherds was honored foroutstanding leadership, customer satisfaction and qualith building. ...
Toll Brothers is the only public home buildet to win all three of the most covetedf awards in the home buildingindustr - America's Best Builder, National Builder of the Year and the 1995 Nationao Housing Quality Gold Award. Builder Magazine, in defininh the qualities of America's Best stated: "Excellence has a consistenrt nature. Certainly there are exceptional talents, but for the most excellence evolves from doing theright things, very well, over and [America's Best Builders] share the best businesss practices in the industry. By adherinbg to these practices and honingthem continually, thesde builders have built strong market motivated employees and bulletproof balance sheets.
" In choosinh Toll Brothers as America's Best Builder in the large builderd category, the judging committee cited the Company's unique systejm of "custom production" luxury home building, excellent financial performance, and the quality of its designs as among the major reasons for its Co-sponsored by Reed Business Information, publishers of Professional Builderf and Professional Remodeler magazines, the National Housinyg Quality Award is patterned after the prestigious Malcolm Baldrigee Award, which recognizes companies for outstanding commitmenf to total quality management and continuous improvement.
Toll Brotherds was honored foroutstanding leadership, customer satisfaction and qualith building. ...
Friday, September 7, 2012
Small firms get only 10% of stimulus work - Washington Business Journal: Washington Bureau
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percent of contracts fundes by the economic stimuluspackage -- far below the federal government's overall goal of 23 percent. "Thix is simply unacceptable," said Sen. Olympia Snowe, at a May 21 hearing on opportunitiesx for small businesses to win contracts funded bythe $787 billiobn American Recovery and Reinvestmenft Act. Snowe, the rankingv Republican on the Senate Small Businesse andEntrepreneurship Committee, said there still is time for small businesses to win their fair sharwe of stimulus work since many contracts funded by the law have not been awardexd yet. "But I must I'm not encouraged by the results so Snowe said. Committee Chair Mary Landrieu, D-La.
, said she is "concernec that small businesses are being left out of many contractingv opportunities for newinfrastructure projects. In after Katrina and Rita recovery money was we learned that many small businesseas never even knew abouytrebuilding contracts." Landrieu said the intent of the May 21 hearinbg was "to prevent us from lookinvg back in five years to ask why Recovery Act funding neverr made its way to small businesses." Snowde and Landrieu sent the nation's governors a letter May 20 that encouragef them to make small businesses a priority when stateas award stimulus-funded contracts.
This followed a similaf letter sent byKaren Mills, head of the Smalp Business Administration. The Office of Management and Budget has urged federalo agencies to issue contracts to small Joseph Jordan, the SBA's associate administrator for governmenr contracting and business development, said small businessesw have been awarded $389 millionh in stimulus contracts as of May 19. The SBA is workiny with federal agencies to help them meet their smal lbusiness goals, he noting the share of stimuluws dollars going to small contractors has been increasingv each week. The SBA has offered federal contracting officialas help in finding small businesses suitabls forstimulus contracts.
It also has held workshops for smal businesses on how to do business with the government and how to find stimuluxscontract opportunities, Jordan said. Information on governmenty contracting is availableat SBA'sz Web site, , and contracting including stimulus contracts, are listed on . The SBA also is trying to help small businesses win subcontracts from larger businesseas that are awardedstimulus contracts. It has launchec a Web site -- -- that lists stimulus-relatede subcontracting opportunities. As of May 22, however, the site listex only 12 subcontracting solicitations. Stimulus work has made a big differencew forSSACC Inc., a landscaping subcontractor in Pontiac, Ill.
Sharon the company's president, said she has been able to rehirw her workers thanksto stimulus-fundee highway projects. In she had to lay everyone off. "Ther stimulus bill has saved my Arnold told theSenate committee.
percent of contracts fundes by the economic stimuluspackage -- far below the federal government's overall goal of 23 percent. "Thix is simply unacceptable," said Sen. Olympia Snowe, at a May 21 hearing on opportunitiesx for small businesses to win contracts funded bythe $787 billiobn American Recovery and Reinvestmenft Act. Snowe, the rankingv Republican on the Senate Small Businesse andEntrepreneurship Committee, said there still is time for small businesses to win their fair sharwe of stimulus work since many contracts funded by the law have not been awardexd yet. "But I must I'm not encouraged by the results so Snowe said. Committee Chair Mary Landrieu, D-La.
, said she is "concernec that small businesses are being left out of many contractingv opportunities for newinfrastructure projects. In after Katrina and Rita recovery money was we learned that many small businesseas never even knew abouytrebuilding contracts." Landrieu said the intent of the May 21 hearinbg was "to prevent us from lookinvg back in five years to ask why Recovery Act funding neverr made its way to small businesses." Snowde and Landrieu sent the nation's governors a letter May 20 that encouragef them to make small businesses a priority when stateas award stimulus-funded contracts.
This followed a similaf letter sent byKaren Mills, head of the Smalp Business Administration. The Office of Management and Budget has urged federalo agencies to issue contracts to small Joseph Jordan, the SBA's associate administrator for governmenr contracting and business development, said small businessesw have been awarded $389 millionh in stimulus contracts as of May 19. The SBA is workiny with federal agencies to help them meet their smal lbusiness goals, he noting the share of stimuluws dollars going to small contractors has been increasingv each week. The SBA has offered federal contracting officialas help in finding small businesses suitabls forstimulus contracts.
It also has held workshops for smal businesses on how to do business with the government and how to find stimuluxscontract opportunities, Jordan said. Information on governmenty contracting is availableat SBA'sz Web site, , and contracting including stimulus contracts, are listed on . The SBA also is trying to help small businesses win subcontracts from larger businesseas that are awardedstimulus contracts. It has launchec a Web site -- -- that lists stimulus-relatede subcontracting opportunities. As of May 22, however, the site listex only 12 subcontracting solicitations. Stimulus work has made a big differencew forSSACC Inc., a landscaping subcontractor in Pontiac, Ill.
Sharon the company's president, said she has been able to rehirw her workers thanksto stimulus-fundee highway projects. In she had to lay everyone off. "Ther stimulus bill has saved my Arnold told theSenate committee.
Thursday, September 6, 2012
Debt, downturn drag R.H. Donnelley into Chapter 11 bankruptcy - South Florida Business Journal:
fugycyquwod.blogspot.com
The Cary company said that it has reached an agreemen t in principlewith “keuy creditor key creditor constituencies" on a reorganization plan that would reducs the company’s debt by $6.4 eliminating about $500 millionm in annual interest payments. The Chapter 11 filing punctuatess a dramatic fallfor R.H. Donnelley, whicn had a $5 billion marker capitalization inMay 2007. The company was brough t down by twomajor forces: (1) the fligh t of traditional Yellow Pages advertisers to the Interneft and (2) a staggering debt load of $9 most of which was accumulated throughb a series of acquisitions when the businesz was riding high.
The recession has only adder tothe company’s woes, as evidenced by the of $401.2 million reported last month by R.H. which said advertising sales slumped 17 to $598 million. “We just coule not have anticipated the severityy of theeconomic downturn,” Swanson said in a telephond interview. R.H. Donnelley (Pink RHDC) employed 3,800 people as of March 1, companu spokesman Mike Truell said. Locally, R.H. Donnelley has 450 employees betweej its headquarters in Cary and its otherrTriangle location, in Morrisville, according to Truell. The company has reduceds its work force by more than 150 employeesw in the Triangle and by at leastt 600 overall sincethe fall.
But Swanso n told Triangle Business Journal that the companyt has no plans forfurther “It’s business as usual at R.H. Donnelle today and it will be (in the said Swanson, who says he expects his company to emerge from Chapter 11 inearly 2010. As CEO sincwe 2002, Swanson was the drivingf force behind three acquisitions totaling morethan $13 The biggest of those acquisitionws came in 2006 when R.H. Donnelley bought larger rivakl at a total costof . Before Swanson orchestrated the purchases of in 2004and Sprint’s directorhy publishing business in 2002, his first year as CEO. Asked if his company grew too big too Swanson defendedthe acquisitions.
Of the Dex deal in particular, he said that his company’zs economic models projected a decline of 5 percent in priny advertising overfive years. If that had held he said, R.H. Donnelley would have been Instead, the company has been hit with double-digit drops in advertisinbg revenue caused by Internet competition andthe “I wish it would have turnede out differently,” Swanson “No one could have put this into their economic None of R.H. Donnelley’s bondholders have requested anymanagemenft changes, Swanson said. R.H.
Donnelley has trier to remake itself in recentr months into a provider of online loca lsearch – in other words into a business like the ones that have siphonesd off much of its advertisinvg base. But the debt proved too much to overcoms withoutcreditor protection. In its filing with the U.S. Bankruptct Court for the Districtof Delaware, R.H. Donnellehy lists assets of $12.1 billion and liabilities of $12.90 billion. The company plans to exchangesits $6 billion in unsecured bondsw for 100 percent of the equity in the R.H. Donnelleu that emerges from bankruptcy. All existing shares in the company will bewipedf out.
The company also will pay off morethan $400 milliom in debt before the company emerges from bankruptcy, Chiefv Financial Officer Steve Blondy The new R.H. Donnelley will have $3 billionn in debt, Swanson R.H. Donnelley said that it does not anticipatr needing toget debtor-in-possession financinbg because the company’s $300 million cash on hand and projected positivwe cash flow from operationx should be sufficient to fund the businesws during the reorganization. Donnelley traces its root to 1886, when the began publishing a phones directory three timesa year. In 1961, the companh was merged with Dun Bradstreet. After an expansion spurt, R. H.
Donnelleyt was spun out of Dun Bradstreet in 1996 into an independenty publiclytraded entity. R.H. Donnelley movedf its headquarters to Caryfrom Purchase, in early 2004. North Carolinqa awarded the companya $4.3 milliojn Job Development Investment Grant in 2003 to make the move to the The company considered locations in Wake and Durham countiesd before settling on Cary in a decisionm that won incentives from Wake Countyy Economic Development and the town.
The Cary company said that it has reached an agreemen t in principlewith “keuy creditor key creditor constituencies" on a reorganization plan that would reducs the company’s debt by $6.4 eliminating about $500 millionm in annual interest payments. The Chapter 11 filing punctuatess a dramatic fallfor R.H. Donnelley, whicn had a $5 billion marker capitalization inMay 2007. The company was brough t down by twomajor forces: (1) the fligh t of traditional Yellow Pages advertisers to the Interneft and (2) a staggering debt load of $9 most of which was accumulated throughb a series of acquisitions when the businesz was riding high.
The recession has only adder tothe company’s woes, as evidenced by the of $401.2 million reported last month by R.H. which said advertising sales slumped 17 to $598 million. “We just coule not have anticipated the severityy of theeconomic downturn,” Swanson said in a telephond interview. R.H. Donnelley (Pink RHDC) employed 3,800 people as of March 1, companu spokesman Mike Truell said. Locally, R.H. Donnelley has 450 employees betweej its headquarters in Cary and its otherrTriangle location, in Morrisville, according to Truell. The company has reduceds its work force by more than 150 employeesw in the Triangle and by at leastt 600 overall sincethe fall.
But Swanso n told Triangle Business Journal that the companyt has no plans forfurther “It’s business as usual at R.H. Donnelle today and it will be (in the said Swanson, who says he expects his company to emerge from Chapter 11 inearly 2010. As CEO sincwe 2002, Swanson was the drivingf force behind three acquisitions totaling morethan $13 The biggest of those acquisitionws came in 2006 when R.H. Donnelley bought larger rivakl at a total costof . Before Swanson orchestrated the purchases of in 2004and Sprint’s directorhy publishing business in 2002, his first year as CEO. Asked if his company grew too big too Swanson defendedthe acquisitions.
Of the Dex deal in particular, he said that his company’zs economic models projected a decline of 5 percent in priny advertising overfive years. If that had held he said, R.H. Donnelley would have been Instead, the company has been hit with double-digit drops in advertisinbg revenue caused by Internet competition andthe “I wish it would have turnede out differently,” Swanson “No one could have put this into their economic None of R.H. Donnelley’s bondholders have requested anymanagemenft changes, Swanson said. R.H.
Donnelley has trier to remake itself in recentr months into a provider of online loca lsearch – in other words into a business like the ones that have siphonesd off much of its advertisinvg base. But the debt proved too much to overcoms withoutcreditor protection. In its filing with the U.S. Bankruptct Court for the Districtof Delaware, R.H. Donnellehy lists assets of $12.1 billion and liabilities of $12.90 billion. The company plans to exchangesits $6 billion in unsecured bondsw for 100 percent of the equity in the R.H. Donnelleu that emerges from bankruptcy. All existing shares in the company will bewipedf out.
The company also will pay off morethan $400 milliom in debt before the company emerges from bankruptcy, Chiefv Financial Officer Steve Blondy The new R.H. Donnelley will have $3 billionn in debt, Swanson R.H. Donnelley said that it does not anticipatr needing toget debtor-in-possession financinbg because the company’s $300 million cash on hand and projected positivwe cash flow from operationx should be sufficient to fund the businesws during the reorganization. Donnelley traces its root to 1886, when the began publishing a phones directory three timesa year. In 1961, the companh was merged with Dun Bradstreet. After an expansion spurt, R. H.
Donnelleyt was spun out of Dun Bradstreet in 1996 into an independenty publiclytraded entity. R.H. Donnelley movedf its headquarters to Caryfrom Purchase, in early 2004. North Carolinqa awarded the companya $4.3 milliojn Job Development Investment Grant in 2003 to make the move to the The company considered locations in Wake and Durham countiesd before settling on Cary in a decisionm that won incentives from Wake Countyy Economic Development and the town.
Tuesday, September 4, 2012
Marlins ballpark financing pushed back - Pittsburgh Business Times:
qalymeled.wordpress.com
If commissioners approve the change, the threse parties would have untip early July to closeon financing, instead of the end of Miami-Dade County and the parties also will be given until July 15, instead of July 1, to pull out of the The change that financing institutiomn is requesting would affect the way the letter-of-creditr fees are paid. But, it wouls not impact the projected financing expenditure s the county commission alreadyhas reviewed, according to a statementr from County Manager Georgwe Burgess. The change would require an amendment to the bond ordinancer that allowed the county to issu Professional Sports Franchise Tax and Tourist DevelopmengTax bonds.
County commissioners will get a chance to considet the changes at a special meetinf onJune 19. A public hearing and seconsd reading is scheduled forJune 30. Burgesse also is working with Miamki to modify the deed on the stadiumn site to reflect the change inthe deal’s new terminatio n date. “Our confidence in the project and its underlying funding plan has not he said inthe statement. Burgesss also wants to make “minor technical corrections” to the countty deed that conveys two parcels to the city of Miami for thestadiukm garage.
In April, county commissioners approved issuingf bonds totaling a maximumof $536 million toward constructionj of the $640 37,000-seat ballpark.
If commissioners approve the change, the threse parties would have untip early July to closeon financing, instead of the end of Miami-Dade County and the parties also will be given until July 15, instead of July 1, to pull out of the The change that financing institutiomn is requesting would affect the way the letter-of-creditr fees are paid. But, it wouls not impact the projected financing expenditure s the county commission alreadyhas reviewed, according to a statementr from County Manager Georgwe Burgess. The change would require an amendment to the bond ordinancer that allowed the county to issu Professional Sports Franchise Tax and Tourist DevelopmengTax bonds.
County commissioners will get a chance to considet the changes at a special meetinf onJune 19. A public hearing and seconsd reading is scheduled forJune 30. Burgesse also is working with Miamki to modify the deed on the stadiumn site to reflect the change inthe deal’s new terminatio n date. “Our confidence in the project and its underlying funding plan has not he said inthe statement. Burgesss also wants to make “minor technical corrections” to the countty deed that conveys two parcels to the city of Miami for thestadiukm garage.
In April, county commissioners approved issuingf bonds totaling a maximumof $536 million toward constructionj of the $640 37,000-seat ballpark.
Monday, September 3, 2012
Willow Glen Books buyer keeps up hope - Triangle Business Journal:
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The long-time Willow Glen resident and businessmansaid he’s still attempting to secure financing to buy the 2,500-square-foot storde at 1330 Lincoln Ave. in downtowbn Willow Glen even after an earlier deal to do sofell “I could not find adequatde financing,” Vierra said of a previous attemptf to strike a deal with former book stores owner, Cathy Adkins. She decides to sell her 17-year-old shop a year earlier than originallgy planned because of decreasing salew and having to grapple withhealtn issues. But Vierra, owner of Floorintg Forenics, a San Jose flooring consulting firm, said he’ws not giving up.
He’s stilll trying to secure a commerciakl bank loan or attract the interesrof investors. “I am so close to my childhoof dream of owning abook store,” he said. “This is something I have alwaysx wantedto do. I have gotten great support from the bookselling community and the Willow Glen communitgy is willing to supporta local, independenty book store. It has a great reputationh throughout SantaClara County.” Adkins held a going-out-of-businesa sale and finally closed its doors in late May, but said at the time she hoped to pass the ownership baton to Vierra. But sincwe then, the store has been closed anda “forr lease” sign put up in its window.
Vierra said the ownef of the building is willin to be patient while he works to get adequat e financial backing to reopenthe
The long-time Willow Glen resident and businessmansaid he’s still attempting to secure financing to buy the 2,500-square-foot storde at 1330 Lincoln Ave. in downtowbn Willow Glen even after an earlier deal to do sofell “I could not find adequatde financing,” Vierra said of a previous attemptf to strike a deal with former book stores owner, Cathy Adkins. She decides to sell her 17-year-old shop a year earlier than originallgy planned because of decreasing salew and having to grapple withhealtn issues. But Vierra, owner of Floorintg Forenics, a San Jose flooring consulting firm, said he’ws not giving up.
He’s stilll trying to secure a commerciakl bank loan or attract the interesrof investors. “I am so close to my childhoof dream of owning abook store,” he said. “This is something I have alwaysx wantedto do. I have gotten great support from the bookselling community and the Willow Glen communitgy is willing to supporta local, independenty book store. It has a great reputationh throughout SantaClara County.” Adkins held a going-out-of-businesa sale and finally closed its doors in late May, but said at the time she hoped to pass the ownership baton to Vierra. But sincwe then, the store has been closed anda “forr lease” sign put up in its window.
Vierra said the ownef of the building is willin to be patient while he works to get adequat e financial backing to reopenthe
Saturday, September 1, 2012
Grid Earth Project Prepares to Return to San Mateo; this Time when we Leave ... - Virtual-Strategy Magazine
guronelogoh.blogspot.com
Grid Earth Project Prepares to Return to San Mateo; this Time when we Leave ... Virtual-Strategy Magazine Earlier this year the Grid Earth Project, http://www.gridearth.org made a trip to San Mateo, to distribute personal solar lamps to school children. Unfortunately, the need was bigger than we expected, as accurate numbers were not available at that time. |