tulusenoveb.blogspot.com
The Atlanta-based consumer products company said it will exit bankruptcyy protection as soon as all closing conditions tothe plan, includinvg the closing of the company’s exit financing, have been met. That will likely be in August, the companh said. “When we emerge, we will have reduced our subordinated debtby $840 millio n and eliminated approximately $60 million of annual cash interesyt expenses for at least each of the next two said Kent Hussey, CEO of Spectrum in a prepared statement.
“We will emerges with a stronger balance sheer that will better position us to maintain and strengthenn our current platform and to pursue opportunities to grow our Spectrum Brands andits U.S. subsidiariew filed for Chapter 11 inthe U.S. Bankruptcyu Court for the Western Districrof Texas, San Antonio Division on Feb. 3. It had $4.4 billiomn in debt. Spectrum makes Rayovavc batteries, Tetra pet supplies, Remingtonm shaving and grooming and personal care products, household insecticides and lawn and gardemn care products.
Thursday, April 28, 2011
Tuesday, April 26, 2011
Pawlenty won't call special session - Minneapolis / St. Paul Business Journal:
modestofyeyko.blogspot.com
Instead, Pawlenty said he woulds balance the budget by usinghis line-itemj veto and unallotment authority, if necessary. “Politicsa as usual around this placdis over,” Pawlenty said in a “The people of Minnesota expect and deservd timely and decisive action. I will not let the Legislature’xs work spill over into a special The state faces a projected shortfallof $4.6 billion over the next two Pawlenty last week vetoed a $1 billiojn tax bill that the DFL-controlled Housd and Senate had passed. The governor has said that he will not sign a bill that uses tax increasesa to balancethe budget.
“I’m extremely disappointeds with the direction that Governor Pawlenty has takem the budget negotiations by hiscomments today," Minnesotaw DFL Chairman Brian Melendez said in a "The legislative leadership in both housesd have been more than willing to compromise with him in recenrt weeks, even throwing out their own budgetzs in favor of a working solution."
Instead, Pawlenty said he woulds balance the budget by usinghis line-itemj veto and unallotment authority, if necessary. “Politicsa as usual around this placdis over,” Pawlenty said in a “The people of Minnesota expect and deservd timely and decisive action. I will not let the Legislature’xs work spill over into a special The state faces a projected shortfallof $4.6 billion over the next two Pawlenty last week vetoed a $1 billiojn tax bill that the DFL-controlled Housd and Senate had passed. The governor has said that he will not sign a bill that uses tax increasesa to balancethe budget.
“I’m extremely disappointeds with the direction that Governor Pawlenty has takem the budget negotiations by hiscomments today," Minnesotaw DFL Chairman Brian Melendez said in a "The legislative leadership in both housesd have been more than willing to compromise with him in recenrt weeks, even throwing out their own budgetzs in favor of a working solution."
Sunday, April 24, 2011
New Kennedy Krieger center expected to increase patient visits 20% - Baltimore Business Journal:
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The 115,000-square-foot center includes aquatixc therapy pools, a therapeutic garden and a numbet ofgreen elements. The center is located at 801 N. near and the biotechnology and residentiaol development transforming a large swath of the The therapy garden includexs a labyrinth and threwetherapy rooms. The aquatic therapy center occupies one floodr and includes underwater video systems, sensory temperature controls and hydraulic liftes that allow the floors to be raisedd and lowered to accommodatse patients in wheelchairs.
The building contains a numbef of environmentallyfriendly features, including: Elevators that reduce energy usage up to 50 and, • Energy Star-certifieed refrigerators, water heater and othe r equipment. Kennedy Krieger receives 120,000 patient visits per Officials expect that number to increaseto 145,00 0 visits with the opening of the new outpatient Later this summer, Kennedy Krieger will debut a 45,000-square-fooft research center at 716 N. Broadway. Staff will perform clinical researchu ondevelopmental disabilities.
The 115,000-square-foot center includes aquatixc therapy pools, a therapeutic garden and a numbet ofgreen elements. The center is located at 801 N. near and the biotechnology and residentiaol development transforming a large swath of the The therapy garden includexs a labyrinth and threwetherapy rooms. The aquatic therapy center occupies one floodr and includes underwater video systems, sensory temperature controls and hydraulic liftes that allow the floors to be raisedd and lowered to accommodatse patients in wheelchairs.
The building contains a numbef of environmentallyfriendly features, including: Elevators that reduce energy usage up to 50 and, • Energy Star-certifieed refrigerators, water heater and othe r equipment. Kennedy Krieger receives 120,000 patient visits per Officials expect that number to increaseto 145,00 0 visits with the opening of the new outpatient Later this summer, Kennedy Krieger will debut a 45,000-square-fooft research center at 716 N. Broadway. Staff will perform clinical researchu ondevelopmental disabilities.
Thursday, April 21, 2011
Akridge, ex-JPI East principals form new company - Business Courier of Cincinnati:
lebexab.wordpress.com
The new company will be callec , a nod to JPI’s brand name for its such as Jefferson atCapitol Yards. Threew years ago, even before the real estate crisisz and natural attrition virtually dismantled JPI the East Coast divisiohof Dallas-based , Butz and Lamb negotiated an agreement givinf them the right to buy JPI East and the Jefferson All they needed was an investment partner to fund the In mid-December at Belga, Butz and Lamb met with Akridge’se president, Matt Klein, a business acquaintance they have known for more than 10 yeares and often called on when doing due diligence for acquisitiobn opportunities.
Over Belgian the trio discussed Butz’s and Lamb’s vision of the perfect investment “We talked to high net-worth families and Wall Streetrinvestment houses, but we wanted the right cultural fit,” said JPI East’s former president. “We looked at how they treaft people and customers and their reputation for respect and integrity and givingf back tothe community.” With they ran through the pros and cons of each potential The three met again in February, this time at an Italian eatery in Bethesda. Kleih had been doing some thinking: “Why don’ we just do this ourselves?
” It was Klein’as Dick Cheney moment — he had evaluated all the candidatesw and decided he was thebest “Minus the face-shooting,” Klein insists. “You want to do businesz with peopleyou like,” he “Our team was watchinyg them set up this new platform, and it seemed like we were another option that should be on the table.” An undiscloseds number of Akridge principals are taking a stake in Jeffersohn Apartment Group. Klein would not reveal how largse a stakethat is, saying only that “Jim and Greg are the managinh partners.
” When the two men were forming their plan three years ago, JPI East had peakefd at 380 employees, includingg property management and construction crews. Throughourt the fall and winter, as the companu sold off its property managemenft divisionto Charleston, S.C.-based LLC, completed construction projectes and laid off executives, JPI shranjk to its current 22 office JPI Multifamily still has $2 billionj worth of property in its backed by . Butz and Lamb continue to hold a partnershipl stakein JPI’s holdings, including all the East Coasyt multifamily properties acquired or developed by JPI East undefr their leadership.
Three of those properties are new apartmentf buildingsnear Akridge’s planned Half Street project, whicu includes 280 residential 370,000 square feet of office space and 50,000 square feet of retaip in the ballpark district. JPI (and Butz and own Jefferson atCapitol Yards, Axiom at Capitol Yard and 909 at Capitol Yards. Akridgse will not have a stake inthose properties. With shrinking new fewer competitors and a lending environmenft that favors multifamily assets over most any other asset class, Akridge and the new Jefferso Apartment Group feel bullish on the region’s apartment markeyt and on the ballpark district in Southeasr When the capital marketzs shake loose, the company hopew to raise an investment fund for multifamilty investments or lure in an institutional partne like JPI’s GE..
Even without an investmeng partner on call for any opportunitied the newcompany identifies, Jefferson Apartment Group is alreadgy targeting five properties — with active offers on the tabld — in D.C., Philadelphia and and it is in the early stages of planningg and zoning new development s in Fairfax County and Philadelphia.
The new company will be callec , a nod to JPI’s brand name for its such as Jefferson atCapitol Yards. Threew years ago, even before the real estate crisisz and natural attrition virtually dismantled JPI the East Coast divisiohof Dallas-based , Butz and Lamb negotiated an agreement givinf them the right to buy JPI East and the Jefferson All they needed was an investment partner to fund the In mid-December at Belga, Butz and Lamb met with Akridge’se president, Matt Klein, a business acquaintance they have known for more than 10 yeares and often called on when doing due diligence for acquisitiobn opportunities.
Over Belgian the trio discussed Butz’s and Lamb’s vision of the perfect investment “We talked to high net-worth families and Wall Streetrinvestment houses, but we wanted the right cultural fit,” said JPI East’s former president. “We looked at how they treaft people and customers and their reputation for respect and integrity and givingf back tothe community.” With they ran through the pros and cons of each potential The three met again in February, this time at an Italian eatery in Bethesda. Kleih had been doing some thinking: “Why don’ we just do this ourselves?
” It was Klein’as Dick Cheney moment — he had evaluated all the candidatesw and decided he was thebest “Minus the face-shooting,” Klein insists. “You want to do businesz with peopleyou like,” he “Our team was watchinyg them set up this new platform, and it seemed like we were another option that should be on the table.” An undiscloseds number of Akridge principals are taking a stake in Jeffersohn Apartment Group. Klein would not reveal how largse a stakethat is, saying only that “Jim and Greg are the managinh partners.
” When the two men were forming their plan three years ago, JPI East had peakefd at 380 employees, includingg property management and construction crews. Throughourt the fall and winter, as the companu sold off its property managemenft divisionto Charleston, S.C.-based LLC, completed construction projectes and laid off executives, JPI shranjk to its current 22 office JPI Multifamily still has $2 billionj worth of property in its backed by . Butz and Lamb continue to hold a partnershipl stakein JPI’s holdings, including all the East Coasyt multifamily properties acquired or developed by JPI East undefr their leadership.
Three of those properties are new apartmentf buildingsnear Akridge’s planned Half Street project, whicu includes 280 residential 370,000 square feet of office space and 50,000 square feet of retaip in the ballpark district. JPI (and Butz and own Jefferson atCapitol Yards, Axiom at Capitol Yard and 909 at Capitol Yards. Akridgse will not have a stake inthose properties. With shrinking new fewer competitors and a lending environmenft that favors multifamily assets over most any other asset class, Akridge and the new Jefferso Apartment Group feel bullish on the region’s apartment markeyt and on the ballpark district in Southeasr When the capital marketzs shake loose, the company hopew to raise an investment fund for multifamilty investments or lure in an institutional partne like JPI’s GE..
Even without an investmeng partner on call for any opportunitied the newcompany identifies, Jefferson Apartment Group is alreadgy targeting five properties — with active offers on the tabld — in D.C., Philadelphia and and it is in the early stages of planningg and zoning new development s in Fairfax County and Philadelphia.
Tuesday, April 19, 2011
Franchot: Financial questions on State Center project will require vigilance - Wichita Business Journal:
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Franchot, who joined Gov. Martin O’Malley and Treasurerf Nancy Kopp onthe state’as Board of Public Works in voting for the $1.4 billionn State Center redevelopment project Wednesday afternoon, said he does not know enougy about the project’s costws to the state or whether the projectf is even practical given the nationwide creditg crunch. “I believe the projectt has a lot of promise and is deservinvof support,” Franchot said in a telephond interview Wednesday. “I voted for it, but am goinh to continue to be vigilant about the fisca exposure tothe state.
” The deal involves the state leasingf its midtown Baltimore office complex to a private developmentt team, which would then redevelop the propertuy into a mix of shops and homes. The state would then leasr back a majority ofthe project’s 2 milliob square feet of office space for use by its various state agencies. But the terms of the deal have not been hammeredout yet, as Franchot and the Board of Publicv Works voted Wednesday only on a mastet development agreement. With that agreement in place, the development team will now createw designs for its planned buildinge and come back to the stater for approval on morespecific designs, costs, and leas e terms.
The development team, which includes national housintdeveoper McCormack, Baron Salazar, would borrow $888 million to finances its work, according to the Department of Legislative Services. The state would issue another $338 million in State and federal tax credit programs would pick upanothee $234 million in project with the remainder of the project’s costs being contributed directly by the developers or othe investors. Franchot said that scenario raiseaseveral concerns, including the ability for the state or the developerw to borrow money in the midstg of the nationwide creditr crunch.
He said he’s also concerned about the state’s ability to negotiat fair lease terms with the developersx given they would both be heavily invested in making sure the projectis “The problem is that the credit markets are bone Franchot said. “Obviously this is a long-term but I’m not confident that the privatee sector will finance this in a way that the state canafforf it.” In addition, Franchot said he isn’t sure why the stater would make the project a priorithy above other pressing needs such as new collegd dormitories or other state-funded constructionj projects.
Franchot, who joined Gov. Martin O’Malley and Treasurerf Nancy Kopp onthe state’as Board of Public Works in voting for the $1.4 billionn State Center redevelopment project Wednesday afternoon, said he does not know enougy about the project’s costws to the state or whether the projectf is even practical given the nationwide creditg crunch. “I believe the projectt has a lot of promise and is deservinvof support,” Franchot said in a telephond interview Wednesday. “I voted for it, but am goinh to continue to be vigilant about the fisca exposure tothe state.
” The deal involves the state leasingf its midtown Baltimore office complex to a private developmentt team, which would then redevelop the propertuy into a mix of shops and homes. The state would then leasr back a majority ofthe project’s 2 milliob square feet of office space for use by its various state agencies. But the terms of the deal have not been hammeredout yet, as Franchot and the Board of Publicv Works voted Wednesday only on a mastet development agreement. With that agreement in place, the development team will now createw designs for its planned buildinge and come back to the stater for approval on morespecific designs, costs, and leas e terms.
The development team, which includes national housintdeveoper McCormack, Baron Salazar, would borrow $888 million to finances its work, according to the Department of Legislative Services. The state would issue another $338 million in State and federal tax credit programs would pick upanothee $234 million in project with the remainder of the project’s costs being contributed directly by the developers or othe investors. Franchot said that scenario raiseaseveral concerns, including the ability for the state or the developerw to borrow money in the midstg of the nationwide creditr crunch.
He said he’s also concerned about the state’s ability to negotiat fair lease terms with the developersx given they would both be heavily invested in making sure the projectis “The problem is that the credit markets are bone Franchot said. “Obviously this is a long-term but I’m not confident that the privatee sector will finance this in a way that the state canafforf it.” In addition, Franchot said he isn’t sure why the stater would make the project a priorithy above other pressing needs such as new collegd dormitories or other state-funded constructionj projects.
Sunday, April 17, 2011
Region weathers job losses - Philadelphia Business Journal:
http://ibitasony.wordpress.com
Nationally, initial jobless claims last week increased to the highest levelsince 1982.U.S. employers cut 533,000 jobs in according to the U.S. Labor Department’s Bureau of Labor which said the figure is the largesgt loss of jobs in one monthsince 602,00 vanished in December 1974. It puts the nation’x unemployment rate at 6.7 In October, the most recent monthj for which local figuresare available, the region had an unemploymentt rate of 5.7 percent, 0.8 percentage points below the then-national rate of 6.
5 percent, the BLS One measure of job loss in New Jersegy and Pennsylvania is the number of employeews listed in notices filed under the Worker Adjustment and Retraining Notification, or WARN, Act, which requires most employerws with 100 or more workers to give workers and loca and state governments 60 days notice of plannes plant closings or mass So far this year, 35 companies in the five-county Philadelphia area have filef WARN notices covering 4,210 workers with the state.
That comparez to 38 companies warningabout 4,480 job cuts by this time last In Burlington, Camden and Glouceste counties, 14 companies have filexd notices affecting 2,540 workers with the New Jerseu Department of Labor and Workforce Development, comparedx to only eight companies warning of 781 job lossee over all of last year. Companies that have major operations in the area have implementeds or announced atleasyt 19,500 job cuts, including more than 1,600 in the this year. The vast majority come from four largewpharmaceutical companies, which plan to shed 14,009 jobs. of Berwyn announced just Wednesday it woul d layoff 2,500, but didn’t say how many wouldd be local.
The cuts also include 900 loca jobs byWest Chester-based ; 190 jobs by Wayne-baseed recruiting software company , which didn’tg specify location; and 150 by the National Football which include a yet-to-be-determined number in Mount N.J. One reason the region seems to be faringy better than the nation as a wholed is its strength in the educatiohn and healthservices sector. It’s the area’s second largesty of 10 sectors, with 18.1 percent of the according to SelectGreater Philadelphia, whicb promotes the region to businesses.
Only two of the five broadf sectors delineated in the nationwidd BLS release gained jobs inNovembet — education and health which added 52,000; and government, which added “I used to say the Philadelphia regiob suffered from negative if industries would have a problem, it alwaye seemed that it was industries we had. In this case and in this the exact opposite seem to bethe case,” said Joel Naroff, chief economisy for . In education, the area’s colleges and universities haven’t announced any layoffs, although has implementer a hiring freeze and the has put in placesomethingh that’s quite close to one.
Big Pharma, big cuts In healty care, the pharmaceutical industry has been hit hardest by job Four big pharmaceutical companies with large operations in theregion Wyeth, plc, plc and — this year have announced plan s to shed more than 14,000 jobs throughb layoffs and not filling vacancies over the next few Wyeth of Madison, N.J., which has the headquarters for its pharmaceutical operations in Collegeville, said 360 Pennsylvaniqa jobs have been eliminated this year. AstraZeneca, whicgh is based in Londobn and hasits U.S. headquarters in said most of its layoffs occurrer outside of theUnited States. Merck of Whitehouse N.J., and GSK, whicnh has its U.S.
headquarters in Research Triangle Park, N.C., wouldn’ft say how many localo jobs theyare cutting. As city makees cuts, retail shrinks Although the government sector added jobs the city ofPhiladelphia wasn’t so lucky. It planws to lay off 220 employees and eliminater nearly 600unfilled positions, more than 1,660o seasonal part-time jobs and about 570 contractual, non-city jobs. Government is the fourthb largest sector inthe area, with 13.9 percent of the region’zs jobs. The largest sector is trade, transportation and which makeup 18.8 percen t of the region’s jobs.
It includes wholesalers and retailers, the latter of whicu have cut positions in the The biggest retail blow came in Augustwhen ’sx Department Store LLC of Reading closed its stores in the Oxforde Valley and Montgomery Malls, which employed 135 and 146, Tweeter, the Canton, Mass., electronics retailer that file d for bankruptcy reorganization last liquidated six area stores that employer 96 earlier this month. The professionalk and businessservices sector, whicbh is the area’s third largesgt with 14.9 percent of workers, has faredc relatively well so far.
Nationally, initial jobless claims last week increased to the highest levelsince 1982.U.S. employers cut 533,000 jobs in according to the U.S. Labor Department’s Bureau of Labor which said the figure is the largesgt loss of jobs in one monthsince 602,00 vanished in December 1974. It puts the nation’x unemployment rate at 6.7 In October, the most recent monthj for which local figuresare available, the region had an unemploymentt rate of 5.7 percent, 0.8 percentage points below the then-national rate of 6.
5 percent, the BLS One measure of job loss in New Jersegy and Pennsylvania is the number of employeews listed in notices filed under the Worker Adjustment and Retraining Notification, or WARN, Act, which requires most employerws with 100 or more workers to give workers and loca and state governments 60 days notice of plannes plant closings or mass So far this year, 35 companies in the five-county Philadelphia area have filef WARN notices covering 4,210 workers with the state.
That comparez to 38 companies warningabout 4,480 job cuts by this time last In Burlington, Camden and Glouceste counties, 14 companies have filexd notices affecting 2,540 workers with the New Jerseu Department of Labor and Workforce Development, comparedx to only eight companies warning of 781 job lossee over all of last year. Companies that have major operations in the area have implementeds or announced atleasyt 19,500 job cuts, including more than 1,600 in the this year. The vast majority come from four largewpharmaceutical companies, which plan to shed 14,009 jobs. of Berwyn announced just Wednesday it woul d layoff 2,500, but didn’t say how many wouldd be local.
The cuts also include 900 loca jobs byWest Chester-based ; 190 jobs by Wayne-baseed recruiting software company , which didn’tg specify location; and 150 by the National Football which include a yet-to-be-determined number in Mount N.J. One reason the region seems to be faringy better than the nation as a wholed is its strength in the educatiohn and healthservices sector. It’s the area’s second largesty of 10 sectors, with 18.1 percent of the according to SelectGreater Philadelphia, whicb promotes the region to businesses.
Only two of the five broadf sectors delineated in the nationwidd BLS release gained jobs inNovembet — education and health which added 52,000; and government, which added “I used to say the Philadelphia regiob suffered from negative if industries would have a problem, it alwaye seemed that it was industries we had. In this case and in this the exact opposite seem to bethe case,” said Joel Naroff, chief economisy for . In education, the area’s colleges and universities haven’t announced any layoffs, although has implementer a hiring freeze and the has put in placesomethingh that’s quite close to one.
Big Pharma, big cuts In healty care, the pharmaceutical industry has been hit hardest by job Four big pharmaceutical companies with large operations in theregion Wyeth, plc, plc and — this year have announced plan s to shed more than 14,000 jobs throughb layoffs and not filling vacancies over the next few Wyeth of Madison, N.J., which has the headquarters for its pharmaceutical operations in Collegeville, said 360 Pennsylvaniqa jobs have been eliminated this year. AstraZeneca, whicgh is based in Londobn and hasits U.S. headquarters in said most of its layoffs occurrer outside of theUnited States. Merck of Whitehouse N.J., and GSK, whicnh has its U.S.
headquarters in Research Triangle Park, N.C., wouldn’ft say how many localo jobs theyare cutting. As city makees cuts, retail shrinks Although the government sector added jobs the city ofPhiladelphia wasn’t so lucky. It planws to lay off 220 employees and eliminater nearly 600unfilled positions, more than 1,660o seasonal part-time jobs and about 570 contractual, non-city jobs. Government is the fourthb largest sector inthe area, with 13.9 percent of the region’zs jobs. The largest sector is trade, transportation and which makeup 18.8 percen t of the region’s jobs.
It includes wholesalers and retailers, the latter of whicu have cut positions in the The biggest retail blow came in Augustwhen ’sx Department Store LLC of Reading closed its stores in the Oxforde Valley and Montgomery Malls, which employed 135 and 146, Tweeter, the Canton, Mass., electronics retailer that file d for bankruptcy reorganization last liquidated six area stores that employer 96 earlier this month. The professionalk and businessservices sector, whicbh is the area’s third largesgt with 14.9 percent of workers, has faredc relatively well so far.
Thursday, April 14, 2011
Layne
lamoreuuceses1724.blogspot.com
Layne’s stock closed on Thursday at down $4.71, or 26.5 percent, on volume of 738,37 shares, according to Yahoo Finance. The stock’sd average daily volume the past three montheis 320,550 shares. In a release before the marke t openedon Thursday, the Mission Woods-basef company (Nasdaq: LAYN) reported earnings of $12.2 million, or 63 cents a for the quarter that ended Oct. 31. This is a 23 percentt increase from earningsof $9.9 million, or 59 centw a share, last year. Revenur for the quarter was $264.5 million, up 17 percent from $225.2 millio n last year.
Company CEO Andrew Schmitt said in the releasd that customers in its mineralasegment “are reducing exploration programs” and that its water business projects “have become more prics competitive.” “All of our operating units did an outstandinbg job this quarter delivering positive results despite the increasinglty difficult economic environment,” Schmitgt said in the release. “Like most we are moving quickly to match expenses in our varioue businesses to reductions in revenue as thoswbecome apparent.” Revenue rose 22.4 percent in the company’d water infrastructure unit, 12.2 percenr in mineral exploration and 8 percenrt in energy.
The company’s “other” category showed a 66.5 percen t revenue decrease compared with last Last year, the other category included $3.17 million in revenue for the quarter and nine months that ended Oct. 31 related to two contractz to provide consulting and logistical support for international projects in Canadaand Africa. Excluding that revenu last year, the company’s revenue in that category in this year’as quarter was comparable to last year. Layne Christensen provides products and services forthe water, mineral and energuy markets. It ranks No.
17 on the Kansas City BusinesxsJournal ’s list of area public
Layne’s stock closed on Thursday at down $4.71, or 26.5 percent, on volume of 738,37 shares, according to Yahoo Finance. The stock’sd average daily volume the past three montheis 320,550 shares. In a release before the marke t openedon Thursday, the Mission Woods-basef company (Nasdaq: LAYN) reported earnings of $12.2 million, or 63 cents a for the quarter that ended Oct. 31. This is a 23 percentt increase from earningsof $9.9 million, or 59 centw a share, last year. Revenur for the quarter was $264.5 million, up 17 percent from $225.2 millio n last year.
Company CEO Andrew Schmitt said in the releasd that customers in its mineralasegment “are reducing exploration programs” and that its water business projects “have become more prics competitive.” “All of our operating units did an outstandinbg job this quarter delivering positive results despite the increasinglty difficult economic environment,” Schmitgt said in the release. “Like most we are moving quickly to match expenses in our varioue businesses to reductions in revenue as thoswbecome apparent.” Revenue rose 22.4 percent in the company’d water infrastructure unit, 12.2 percenr in mineral exploration and 8 percenrt in energy.
The company’s “other” category showed a 66.5 percen t revenue decrease compared with last Last year, the other category included $3.17 million in revenue for the quarter and nine months that ended Oct. 31 related to two contractz to provide consulting and logistical support for international projects in Canadaand Africa. Excluding that revenu last year, the company’s revenue in that category in this year’as quarter was comparable to last year. Layne Christensen provides products and services forthe water, mineral and energuy markets. It ranks No.
17 on the Kansas City BusinesxsJournal ’s list of area public
Tuesday, April 12, 2011
A Jewish community president who can't be called to the Torah? Meet Bulgaria's ... - Jewish Telegraphic Agency
http://csx.org/index_agr_avocado.htm
A Jewish community president who can't be called to the Torah? Meet Bulgaria's ... Jewish Telegraphic Agency SOFIA, Bulgaria (JTA) -- Under a cloudless blue sky, in a square wedged between the National Assembly and the Rectorate of the University of Sofia, Alexander Oscar, the young president of Sofia's Jewish community, ... |
Sunday, April 10, 2011
WOODHAVEN: City to buy new bus for seniors - Southgate News Herald
hyperwave-exhausted.blogspot.com
WOODHAVEN: City to buy new bus for seniors Southgate News Herald The council voted unanimously Tuesday to seek bids on replacing the bus. The council had rejected an earlier request by Mayor Patricia Odette to replace the bus. Seniors who board the bus to take day trips had been complaining for some time about the ... |
Friday, April 8, 2011
Bethlehem dad sentenced to state prison for breaking infant son's skull - Allentown Morning Call
http://www.ukwigan.com/user_detail.php?u=mybeathlietty
Bethlehem dad sentenced to state prison for breaking infant son's skull Allentown Morning Call A young Bethlehem father learned Friday he will spend the next 18 to 24 months in state prison because he fractured his infant son's skull. Asking for mercy, Matthew D. Taylor, 24, said the incident รข€" which ... |
Thursday, April 7, 2011
Appliance Park keeps getting up off the mat - Houston Business Journal:
http://www.al-dalel.com/user_detail.php?u=stuppysycle
Before the economy went into the tank, GE plannerd to spin off or sellAppliance Park. And when Appliance Park lost $72 millionn last year, there was even more speculationn aboutits future. Instead of goiny down for the 10-count, Appliance Park is fighting back and starting to land some It scored big this week when union workersd voted overwhelmingly to accept lower pay for new hires and a wage freezer untilJune 2011. In GE pledged two years of job securitu and the promise to add 100 jobs by the end of this Membersof IUE/CWA Local 761 deserve credit for understandinfg the importance of their vote.
They made significant concessione when they agreed tothe two-year wage freezr and the $13-per-hour starting wage for new hires. They understood that GE couldn’yt stay competitive, much less justify any new investmenyt inAppliance Park, without wage concessions. They also knew that if GE ever closexAppliance Park, they would be hard-pressed to find other well-paying manufacturing jobs. There was more good news for Louisvillee yesterday when GE revealed plans to produce a new lineof hybrid-electridc water heaters at Appliance Park.
The company would invest $69 million in Applianc Park and hire an additional 420 That investment would not have been possible withouf the union agreement and tax incentiveas from Louisvilleand Kentucky. The Kentucky Economic Development Financs Authority granted preliminary approvalto $10 milliobn in tax incentives at its meetinv on May 28, and the Louisville Metrp Council was expected to consider $2.
5 million in occupationalo tax refunds over 10 years for GE at its meetingt last night, after Business First’s With the unemployment rate hovering around 10 percent, the importancr of maintaining the 4,100 jobs alreadyt at Appliance Park and possibly adding aboutf 500 more can not be In a perfect world, $20-per-hour manufacturing jobs would be plentifu l and governments would not have to offer incentives to companiesz to protect or create new jobs. But that’s not the case in this global economy.
The fact that we’re even talking about job growtj at Appliance Park is a testament to all GE gets credit for allowingb Appliance Park the opportunity to prove it can efficiently produce a new generation of Union members madea tough, but needed and the city and state were righgt to step up to make it easier for GE to expane here. Like Rocky, there always seem to be another formidable opponent readuy to take on Appliance Although GE’s plan to sell or spin off Appliancre Park is on hold, it still could What that would mean for Louisville is anyone’s guess.
There will be time to worry about that down the For now, let’s just be gratefu l that things are looking up at Appliance Park.
Before the economy went into the tank, GE plannerd to spin off or sellAppliance Park. And when Appliance Park lost $72 millionn last year, there was even more speculationn aboutits future. Instead of goiny down for the 10-count, Appliance Park is fighting back and starting to land some It scored big this week when union workersd voted overwhelmingly to accept lower pay for new hires and a wage freezer untilJune 2011. In GE pledged two years of job securitu and the promise to add 100 jobs by the end of this Membersof IUE/CWA Local 761 deserve credit for understandinfg the importance of their vote.
They made significant concessione when they agreed tothe two-year wage freezr and the $13-per-hour starting wage for new hires. They understood that GE couldn’yt stay competitive, much less justify any new investmenyt inAppliance Park, without wage concessions. They also knew that if GE ever closexAppliance Park, they would be hard-pressed to find other well-paying manufacturing jobs. There was more good news for Louisvillee yesterday when GE revealed plans to produce a new lineof hybrid-electridc water heaters at Appliance Park.
The company would invest $69 million in Applianc Park and hire an additional 420 That investment would not have been possible withouf the union agreement and tax incentiveas from Louisvilleand Kentucky. The Kentucky Economic Development Financs Authority granted preliminary approvalto $10 milliobn in tax incentives at its meetinv on May 28, and the Louisville Metrp Council was expected to consider $2.
5 million in occupationalo tax refunds over 10 years for GE at its meetingt last night, after Business First’s With the unemployment rate hovering around 10 percent, the importancr of maintaining the 4,100 jobs alreadyt at Appliance Park and possibly adding aboutf 500 more can not be In a perfect world, $20-per-hour manufacturing jobs would be plentifu l and governments would not have to offer incentives to companiesz to protect or create new jobs. But that’s not the case in this global economy.
The fact that we’re even talking about job growtj at Appliance Park is a testament to all GE gets credit for allowingb Appliance Park the opportunity to prove it can efficiently produce a new generation of Union members madea tough, but needed and the city and state were righgt to step up to make it easier for GE to expane here. Like Rocky, there always seem to be another formidable opponent readuy to take on Appliance Although GE’s plan to sell or spin off Appliancre Park is on hold, it still could What that would mean for Louisville is anyone’s guess.
There will be time to worry about that down the For now, let’s just be gratefu l that things are looking up at Appliance Park.
Tuesday, April 5, 2011
Fees meant to help spark business end up a source of pain - Tampa Bay Business Journal:
andreychukuze.blogspot.com
The hospital supply company spent $807,00o on sales advice from a managemenft consulting firm and subsequently persuaded bankxs to let it off the hook for meetinf part of the terms of a credit The expense meant SRI could not meetthe "minimunm funds flow coverage ratio" covenant in the credit agreement, accordingg to SRI's annual report filed Marchy 23 with the . The ratiok is a measure banks use to determine if a compant has enough cash to cover its interest Wally Ruiz, SRI's CFO and senior VP, said.
Lenderzs agreed to waive the ratio for the fourtj quarterof 2006, but SRI expectsx to spend more on management consulting fees this year and Ruiz said there'xs no assurance the banks will continu e the waiver. The waiver is one of severakl uncertaintiesfacing Tampa-based SRI ( : STRC). Its presideng and CEO, Christopher Carlton, unexpectedly resigned Feb. 5. Next the board of directors gets a new Charles Federico, former CEO of (Nasdaq: OFIX), an orthopedi products company. SRI is working to turn arounf itsfinancial results, after posting a net loss in 2006 of $1.9 millioh on revenue of $93.8 million.
"Clearlyh we lost money last year and it affectefd our ability to meetthe covenants, but they were fairly aggressive from the get-go," said Ruiz, who is part of a management team runningy day-to-day operations at SRI. "The flow ratio target was set rather high. It was but with the loss, it was not in the cardsz for us." Banks put covenantz in their credit agreements with corporate clientzs as a way of monitoringthoser companies' results, said Penny Hulbert, president of , a Tampa-basexd financial consulting firm. A bank doesn'rt want to write covenants so tightlty thatthey won't be met but also doesn't want to make covenantsd meaningless, she said.
"There's a fine balances between providing flexibility and serving as amonitorinh tool," Hulbert said. Larger banks increasingly are not puttinf as many covenants in their dealse becausethey don't want to spend the monety to monitor them and because they don't want to tie the handds of their clients too tightly, she said. When situationss occur that keep a company from meetingtits covenants, it's an opportunity for bankers and clientsd to talk about what happened and wher the company is going, Hulbergt said. That's what occurred with SRI, whichg has a three-year, $30 million revolvingf credit facility with Wachoviaaand LaSalle. After SRI signed a contract Nov.
1 with , a globap management consulting firm, "we sat with our bank s and explained it to them and gottheirr concurrence," Ruiz said. All of the $807,000 was charged in the fourty quarter of 2006 to develop a plan formakingg SRI's sales effort more efficient and SRI, with a fairly lean headquartersw staff, is likely to ask the consultante to return to implement the plan, including settintg up a customer satisfaction department, Ruiz That's expected to cost roughly $450,000 in the seconc quarter of 2007, according to the Marcn 23 SEC filing.
Failing to meet the termx of a bank agreement coul d be a red flagfor investors, Hulbert although there are so many reasons a company mighy not meet a bank covenanf that it's impossible to generalize. For hundreds of companies fell short of their covenants through no faultr of their own when hurricanes tore through Florida in 2004and 2005. But she said investorws should be wary when a companyy with falling sales and net lossesalso can'tf meet the terms of their bank In its March 23 SRI warned that its business is capital intensive and it might not be able to raise funds on acceptable terms if it can' meet the covenant in its credi t facility.
Ruiz said he hasn't heard about any investor fallout sinces disclosingthe waiver, but investord may already have had their say. SRI's stocl hit a 52-week low of $3.86 a sharwe on Nov. 14, about a week after the company releasefd details of the management consulting The stock has since rebounded and closedat $4.83 a share March 26.
The hospital supply company spent $807,00o on sales advice from a managemenft consulting firm and subsequently persuaded bankxs to let it off the hook for meetinf part of the terms of a credit The expense meant SRI could not meetthe "minimunm funds flow coverage ratio" covenant in the credit agreement, accordingg to SRI's annual report filed Marchy 23 with the . The ratiok is a measure banks use to determine if a compant has enough cash to cover its interest Wally Ruiz, SRI's CFO and senior VP, said.
Lenderzs agreed to waive the ratio for the fourtj quarterof 2006, but SRI expectsx to spend more on management consulting fees this year and Ruiz said there'xs no assurance the banks will continu e the waiver. The waiver is one of severakl uncertaintiesfacing Tampa-based SRI ( : STRC). Its presideng and CEO, Christopher Carlton, unexpectedly resigned Feb. 5. Next the board of directors gets a new Charles Federico, former CEO of (Nasdaq: OFIX), an orthopedi products company. SRI is working to turn arounf itsfinancial results, after posting a net loss in 2006 of $1.9 millioh on revenue of $93.8 million.
"Clearlyh we lost money last year and it affectefd our ability to meetthe covenants, but they were fairly aggressive from the get-go," said Ruiz, who is part of a management team runningy day-to-day operations at SRI. "The flow ratio target was set rather high. It was but with the loss, it was not in the cardsz for us." Banks put covenantz in their credit agreements with corporate clientzs as a way of monitoringthoser companies' results, said Penny Hulbert, president of , a Tampa-basexd financial consulting firm. A bank doesn'rt want to write covenants so tightlty thatthey won't be met but also doesn't want to make covenantsd meaningless, she said.
"There's a fine balances between providing flexibility and serving as amonitorinh tool," Hulbert said. Larger banks increasingly are not puttinf as many covenants in their dealse becausethey don't want to spend the monety to monitor them and because they don't want to tie the handds of their clients too tightly, she said. When situationss occur that keep a company from meetingtits covenants, it's an opportunity for bankers and clientsd to talk about what happened and wher the company is going, Hulbergt said. That's what occurred with SRI, whichg has a three-year, $30 million revolvingf credit facility with Wachoviaaand LaSalle. After SRI signed a contract Nov.
1 with , a globap management consulting firm, "we sat with our bank s and explained it to them and gottheirr concurrence," Ruiz said. All of the $807,000 was charged in the fourty quarter of 2006 to develop a plan formakingg SRI's sales effort more efficient and SRI, with a fairly lean headquartersw staff, is likely to ask the consultante to return to implement the plan, including settintg up a customer satisfaction department, Ruiz That's expected to cost roughly $450,000 in the seconc quarter of 2007, according to the Marcn 23 SEC filing.
Failing to meet the termx of a bank agreement coul d be a red flagfor investors, Hulbert although there are so many reasons a company mighy not meet a bank covenanf that it's impossible to generalize. For hundreds of companies fell short of their covenants through no faultr of their own when hurricanes tore through Florida in 2004and 2005. But she said investorws should be wary when a companyy with falling sales and net lossesalso can'tf meet the terms of their bank In its March 23 SRI warned that its business is capital intensive and it might not be able to raise funds on acceptable terms if it can' meet the covenant in its credi t facility.
Ruiz said he hasn't heard about any investor fallout sinces disclosingthe waiver, but investord may already have had their say. SRI's stocl hit a 52-week low of $3.86 a sharwe on Nov. 14, about a week after the company releasefd details of the management consulting The stock has since rebounded and closedat $4.83 a share March 26.
Sunday, April 3, 2011
Concordia readies environmental stewardship center - Philadelphia Business Journal:
http://www.joaillier-paris.com/user_detail.php?u=arrimegeste
Construction of the 13,000 square-foot, two-story building is set to beginbJuly 14. The structure will be builgt in Mequon on a bluff overlooking Lake Michiga and work is expected to be completed in time for the starr of the 2010academic year. The total cost of the buildingg is expected to bebetween $3.5 million and $3.74 million and is being fundefd exclusively through charitable gifts already secured for the Concordia officials said the building demonstrates the university’s commitment to environmental freshwater conservation and emphasis on sustainable energh resources.
Plans for the center include laboratories, classrooms and a larg e seminar room that can accommodate 200 peoplefor presentations. With its lakefront Concordia officials say the building will be a centeer for the study of the Great Lakes and otherenvironmenta issues. The building will be designedd to be a Leadership in Energu and EnvironmentalDesign (LEED) gold-level “When completed, the center will offer many educational programzs and research in water stewardship and othefr sustainability education topics for Concordia studentw as well as visiting area schools and the greater community,” said Bruce Bessert, director of the Concordia Center for Environmental Stewardship program.
Concordia has added new degrees because of the new and now offersa bachelor’s degree in environmentalp studies and education with a minor in environmental studies, and a master’se degree in education with an emphasis on environmentall education. “This new center is in line with Concordia’s increasee and continued interest in green saidWilliam Cario, vice president of academices at Concordia. “Each of our recent building projects has been builty to increasingenvironmental standards, especially to save energy and other Construction is expected to be completed in time for the star of the 2010 academic year.
The totakl cost of the building is expected to bebetween $3.5 million and $3.75 million and is being fundefd exclusively through charitable gifts already secured for the project. “This new center reinforces Concordia’ds efforts to create programs that are both importanty to the student body and the community asa whole,” Concordi a president Patrick Ferry said.
Construction of the 13,000 square-foot, two-story building is set to beginbJuly 14. The structure will be builgt in Mequon on a bluff overlooking Lake Michiga and work is expected to be completed in time for the starr of the 2010academic year. The total cost of the buildingg is expected to bebetween $3.5 million and $3.74 million and is being fundefd exclusively through charitable gifts already secured for the Concordia officials said the building demonstrates the university’s commitment to environmental freshwater conservation and emphasis on sustainable energh resources.
Plans for the center include laboratories, classrooms and a larg e seminar room that can accommodate 200 peoplefor presentations. With its lakefront Concordia officials say the building will be a centeer for the study of the Great Lakes and otherenvironmenta issues. The building will be designedd to be a Leadership in Energu and EnvironmentalDesign (LEED) gold-level “When completed, the center will offer many educational programzs and research in water stewardship and othefr sustainability education topics for Concordia studentw as well as visiting area schools and the greater community,” said Bruce Bessert, director of the Concordia Center for Environmental Stewardship program.
Concordia has added new degrees because of the new and now offersa bachelor’s degree in environmentalp studies and education with a minor in environmental studies, and a master’se degree in education with an emphasis on environmentall education. “This new center is in line with Concordia’s increasee and continued interest in green saidWilliam Cario, vice president of academices at Concordia. “Each of our recent building projects has been builty to increasingenvironmental standards, especially to save energy and other Construction is expected to be completed in time for the star of the 2010 academic year.
The totakl cost of the building is expected to bebetween $3.5 million and $3.75 million and is being fundefd exclusively through charitable gifts already secured for the project. “This new center reinforces Concordia’ds efforts to create programs that are both importanty to the student body and the community asa whole,” Concordi a president Patrick Ferry said.
Friday, April 1, 2011
Coe brands BOA's legal action against London 2012 as 'spurious' and 'depressing' - Daily Mail
http://www.ukwigan.com/user_detail.php?u=GrictAccuch
Telegraph.co.uk | Coe brands BOA's legal action against London 2012 as 'spurious' and 'depressing' Daily Mail By Sportsmail Reporter Last updated at 12:31 AM on 2nd April 2011 Sebastian Coe has branded the British Olympic Association's court ch » |
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