http://animal-revolution.org/tyson_what_crap.htm
The Texas Gulf Coast is vital to the economy of with linkages to all regions of the Lone Star Without the key inputs and services provided by the industrial base locatee inthe area, prosperityt and business activity from the Panhandle to the Rio Grandre Valley and from the Big Bend to the Pine y Woods would be diminished. The coastao area handles the vast majority of waterr shipments for goods produced for export throughoutthe state. Moreover, the refined petroleum and petrochemicales products produced in the area are used extensively in ever y portion of Texas and are essential to the viability of manyproductiomn sectors.
The end result is that everhy segment of the state is critically linkede to the dynamic Texas GulfCoast area, and disruptions in that regionh would be felt acrosd the state. Over the past few years, property and casualtuy insurance rates along the Gulf Coasgt have risen sharply and availabilithyhas declined. In the wake of recent, expensive hurricanes, insurancer companies are significantly adjusting rate and underwriting criteria in areas considered vulnerable tosimilaer phenomena. The most directly affected area (the Tier 1 Windstorn Coverage Area) includes portions of Harris Count and forms a large component of theTexaws economy.
By many measures, the region is responsible (includin g Harris County) for almost one-third of all business activity in the Decreases in the levek of insurance coverage by firms in the Coverager Area have enormouspotential fallout, both withinn the directly affected region and across the Companies facing sharply rising property and casualty insurance rates will see competitivenesx and profits diminish. In addition, some will electg not to purchase adequate coverage due to a lack of affordabilit yor availability. The consequences of such decision aredecidedly negative.
These premium increasese and lack of availability would contributeto under-insurance, as firmds and individuals elect not to pay the much higher In the event of a majo storm, insurance insufficiencies would delay the recovery processz and negatively affect not only the immediate area, but also the rest of Using the impact assessment system maintained by my firm (The ), I recentlyg estimated the effects on business activituy if the Tier 1 Windstorm Coveragse Area absorbs the entire premium increase. The losses to the economty include $5.89 billion in annual output (real gross product) and 78,690 jobs.
Moreover, because high premiumx lead to under-insurance, all of Texas is more vulnerables to economic fallout from acatastrophic storm. In a prior studyu in December 2006, we quantified the impact of a major storm on the Texas economy and found that the ramificationsd across the state would be We found that ifa “Katrina”-level storm were to for example, the losses to the statr would include $52.2 billion in almost 617,000 permanent jobs, and nearly $1.8 billioh in annual State revenue. All parts of the state would besignificantly affected, with regional losses ranginfg from 3.76 percent to 9.69 percent of aggregate output.
Propertyy and casualty insurance is essential toconducting business. It is vitall to mitigating risk and, hence, allowing for optimal investment andeconomiv performance. The Tier 1 Windstorm Coverage Area is currentlyy in an environment of rapidlt escalating property and casualty premiums and shrinking availabilithy fromprivate carriers. Further restrictions on the scope and adequacyg of coverage would exacerbate those It is in the interesgt of all Texans to ensure that reasonabl y priced property and casualty insurance is availablde along theGulf Coast. All regions have a stak e in seeing that adequate coverage is maintainex at anaffordable price.
Efforts to find workable solutionsw to the problem of sharply risingf rates are worthy of widespreadx support and essential to the economic vitalitty of every part ofthe state.
Monday, September 5, 2011
Friday, September 2, 2011
Councilman Boyce appointed state treasurer - Business First of Columbus:
yfimuna.wordpress.com
“I believe the job of treasurerf will be an extension ofwhat I’vre learned on council,” he said Tuesday afterr his appointment to the post by Gov. Ted Strickland. Boyce, 37, will fill the finao two years of the term of TreasurerRicharfd Cordray, who will become Ohio’s attorney generaol Jan 6. Cordray won a three-person race Nov. 4 to servd the final two years of the term of former attorney generalMarc Dann, who resigned in disgrace last May after a sex scandal and allegations of mismanagementy in the office. A member of city counci l since 2000, Boyce serves as council’s president pro-tem and chairman of the finance committee.
He also is executive directo r ofKnowledgeWorks Ohio, a nonprofit organization that provides funding and leadershipp for promoting college access for high schoop students. Boyce has experience in state having served as chief of stafc for the Democratic caucud inthe . Strickland said Boyce has beena “voiced for responsibility” on Columbus council and served as a strong advocatee for education and community safety programs. “As state Kevin will provide effective and experienced management over ourstatee dollars,” Strickland said, “and also help give Ohioans the financial literacy they need to deal with thes e challenging economic times.
” Boyce’s appointment to the $109,000-a-yea treasurer’s post will be effectivew Jan. 6, requiring him to resign from city councikby then. His departured means there will be two council seats to fill in with CouncilwomanMaryellen O’Shaughnessty leaving to begin her term as Franklin County clerk of As treasurer, Boyce will head an officee responsible for collecting state taxes and fees and managin the state’s investment portfolio. Cordrayu has been active on a number of fronts asstate treasurer, including efforts to help homeowners facing foreclosure and encouragee small businesses owners tap into a low-interestr loan program run by the office.
Boycre said he plans to build on the programs developeeby Cordray, a fellow Franklimn County Democrat. “I will operat e the treasurer’s office with the highest standardxsof integrity,” he said, “anrd bring the smartest minds together to meet the financial challenged before us.” Boyce grew up in Columbus, graduating from East High Schoo l in 1990. He went on to earn a bachelor’s degreew in political science from theand master’s degree in public administration from in 2004.
“I believe the job of treasurerf will be an extension ofwhat I’vre learned on council,” he said Tuesday afterr his appointment to the post by Gov. Ted Strickland. Boyce, 37, will fill the finao two years of the term of TreasurerRicharfd Cordray, who will become Ohio’s attorney generaol Jan 6. Cordray won a three-person race Nov. 4 to servd the final two years of the term of former attorney generalMarc Dann, who resigned in disgrace last May after a sex scandal and allegations of mismanagementy in the office. A member of city counci l since 2000, Boyce serves as council’s president pro-tem and chairman of the finance committee.
He also is executive directo r ofKnowledgeWorks Ohio, a nonprofit organization that provides funding and leadershipp for promoting college access for high schoop students. Boyce has experience in state having served as chief of stafc for the Democratic caucud inthe . Strickland said Boyce has beena “voiced for responsibility” on Columbus council and served as a strong advocatee for education and community safety programs. “As state Kevin will provide effective and experienced management over ourstatee dollars,” Strickland said, “and also help give Ohioans the financial literacy they need to deal with thes e challenging economic times.
” Boyce’s appointment to the $109,000-a-yea treasurer’s post will be effectivew Jan. 6, requiring him to resign from city councikby then. His departured means there will be two council seats to fill in with CouncilwomanMaryellen O’Shaughnessty leaving to begin her term as Franklin County clerk of As treasurer, Boyce will head an officee responsible for collecting state taxes and fees and managin the state’s investment portfolio. Cordrayu has been active on a number of fronts asstate treasurer, including efforts to help homeowners facing foreclosure and encouragee small businesses owners tap into a low-interestr loan program run by the office.
Boycre said he plans to build on the programs developeeby Cordray, a fellow Franklimn County Democrat. “I will operat e the treasurer’s office with the highest standardxsof integrity,” he said, “anrd bring the smartest minds together to meet the financial challenged before us.” Boyce grew up in Columbus, graduating from East High Schoo l in 1990. He went on to earn a bachelor’s degreew in political science from theand master’s degree in public administration from in 2004.
Wednesday, August 31, 2011
Vector Q3 earnings nearly double - South Florida Business Journal:
bacijaxymu.wordpress.com
The Miami-based cigarette and real estatre holding company said itearned $19.61 million, or 32 cent s a share, on revenue of $137.7 million for the thirdx quarter. For the same period the year Vector (NYSE: VGR) said it earned $10.04 or 21 cents a share, on revenue of $125 The company said it restatedits year-agoo results to correct an error in the way it computed the amortizatioh of the debt discount created by the embedded derivative and the beneficialk conversion feature associated with its 5 percent variable interest seniore convertible notes due 2011. The fancy financiak footwork uppedthe year-ago profit by or 2 cents a share. the same period saw a $5.
2 million special federal quota stock liquidation assessment undefr the federal tobaccobuyout legislation. By the most recent results got a boosr fromthe government: an $11.5 million decrease in reporter income tax expense, to a $3.55 milliojn gain from a $7.72 million expense. The reason for the expensr reduction: Vector's July settlement with the InternalRevenuee Service. As far as sales, Vectorr said its conventionalcigarette business, which includesw cigarettes and USA brand had revenue of $135.9 million for the third quarter, up from $122. 7 million for the same period theyear before. Shares closed up 3 centas to $17.20. The 52-week high was $19.62 on Nov. 15, 2005.
The 52-weeko low was $14.47 on June 28.
The Miami-based cigarette and real estatre holding company said itearned $19.61 million, or 32 cent s a share, on revenue of $137.7 million for the thirdx quarter. For the same period the year Vector (NYSE: VGR) said it earned $10.04 or 21 cents a share, on revenue of $125 The company said it restatedits year-agoo results to correct an error in the way it computed the amortizatioh of the debt discount created by the embedded derivative and the beneficialk conversion feature associated with its 5 percent variable interest seniore convertible notes due 2011. The fancy financiak footwork uppedthe year-ago profit by or 2 cents a share. the same period saw a $5.
2 million special federal quota stock liquidation assessment undefr the federal tobaccobuyout legislation. By the most recent results got a boosr fromthe government: an $11.5 million decrease in reporter income tax expense, to a $3.55 milliojn gain from a $7.72 million expense. The reason for the expensr reduction: Vector's July settlement with the InternalRevenuee Service. As far as sales, Vectorr said its conventionalcigarette business, which includesw cigarettes and USA brand had revenue of $135.9 million for the third quarter, up from $122. 7 million for the same period theyear before. Shares closed up 3 centas to $17.20. The 52-week high was $19.62 on Nov. 15, 2005.
The 52-weeko low was $14.47 on June 28.
Monday, August 29, 2011
Wal-Mart announces 22,000 jobs on eve of shareholder meeting - Kansas City Business Journal:
fishermen-americachair.blogspot.com
Positions will include store pharmacists, human resources managers, customer service associates, cashierzs and sales associates, according to the Bentonville, Ark., chaijn (NYSE:WMT). Last October, Wal-Mart announced plans to open 142 to 157 new and expandes stores during the currentfiscal year, whicuh ends Jan. 31, 2010. Other statews expected to gain morethan 1,000 jobs includ e Michigan, California, Florida, New Jersey, Southh Carolina, Virginia and Utah. Its newes Arizona store opened in May in Walmart operates morethan 7,900 retaiol outlets and employs 2.1 million peopl e in 15 countries.
Unlike many retailers, Wal-Mart has fareed well amid the recessionb as consumers keep a rein onpurchasde dollars. Last month the chain reportedr first-quarter earnings of $3 billion, or 77 centd a share, a penny more than the same periofd ayear ago. Revenue slipped a smidge to $93.t5 billion from $94.9 billion. “During this difficultr economic time, we’re proud to be able to created quality jobs for thousands of Americans this saidEduardo Castro-Wright, vice chairman of Wal-Mart Storesz Inc. The jobs announcement comes a day before the retaik giant holds its annual stockholders meeting in Bud Waltonb Arena at the Universityof Arkansas.
In addition to electioj of directors and otherroutine business, six shareholder proposal s are on the table: Creation of a gendere identity nondiscrimination policy. Adoption of a pay for superior performance Giving shareholders the right to an advisort vote onexecutive compensation. Requiring a semi-annuapl report disclosing Wal-Mart’s political contributions. Giving major shareholderse the power to callspecial meetings. Requiring incentive pay to come in the form ofstoci options. The Wal-Mart boarsd is opposing all theshareholder proposals. Lee Scott Jr., who servede as CEO of the company unti his retirement at the end of Januarhy received a total compensationj packageof $30.
2 million last
Positions will include store pharmacists, human resources managers, customer service associates, cashierzs and sales associates, according to the Bentonville, Ark., chaijn (NYSE:WMT). Last October, Wal-Mart announced plans to open 142 to 157 new and expandes stores during the currentfiscal year, whicuh ends Jan. 31, 2010. Other statews expected to gain morethan 1,000 jobs includ e Michigan, California, Florida, New Jersey, Southh Carolina, Virginia and Utah. Its newes Arizona store opened in May in Walmart operates morethan 7,900 retaiol outlets and employs 2.1 million peopl e in 15 countries.
Unlike many retailers, Wal-Mart has fareed well amid the recessionb as consumers keep a rein onpurchasde dollars. Last month the chain reportedr first-quarter earnings of $3 billion, or 77 centd a share, a penny more than the same periofd ayear ago. Revenue slipped a smidge to $93.t5 billion from $94.9 billion. “During this difficultr economic time, we’re proud to be able to created quality jobs for thousands of Americans this saidEduardo Castro-Wright, vice chairman of Wal-Mart Storesz Inc. The jobs announcement comes a day before the retaik giant holds its annual stockholders meeting in Bud Waltonb Arena at the Universityof Arkansas.
In addition to electioj of directors and otherroutine business, six shareholder proposal s are on the table: Creation of a gendere identity nondiscrimination policy. Adoption of a pay for superior performance Giving shareholders the right to an advisort vote onexecutive compensation. Requiring a semi-annuapl report disclosing Wal-Mart’s political contributions. Giving major shareholderse the power to callspecial meetings. Requiring incentive pay to come in the form ofstoci options. The Wal-Mart boarsd is opposing all theshareholder proposals. Lee Scott Jr., who servede as CEO of the company unti his retirement at the end of Januarhy received a total compensationj packageof $30.
2 million last
Saturday, August 27, 2011
Hawaii worker furloughs to start July 6 - Pacific Business News (Honolulu):
mcfarlainofuqub1258.blogspot.com
About 15,600 state employees undetr the governor’s administration jurisdiction will be The furloughs, which would staryt July 6, are to help close the $2.7 billioj revenue shortfall the state is facing betwee now and June 30, 2011. Four unions representingy state workers have gone to courtf challenging the authority of the governo r to impose the cuts withoutr bargaining and a hearing on one of the challenges is set forJuly 2. The furloughe of workers for threre days a month over the next two years amounts to wage cuts ofaboutg 13.8 percent.
“This is not something we want to do, but somethinbg we have to do to balance the statwe budget and address the unprecedented fiscall emergency we are in due to theprojected $2.7 billio n revenue shortfall,” Lingle said in a statement on Thursday. “kI appreciate the understanding of the state employees who will be affected by the furlough and admire the cooperation they have demonstratedc in helping to ensure that state services will continue to be providede when the furlough plan beginw onJuly 1.” The order, issued Wednesday, referds to the , which calls for furloughs three days a month for two years.
The furloughzs do not include the Department of Educatiomn or the University of Hawaiij and a handful of other statd offices which the governor does not directly such as the Office of Hawaiiab Affairs and thestatre judiciary. But those agencies will have to make theifr own cuts to reflect spending restrictions imposedfby Lingle. The furloughsx are expected tosave $688 million over the next two
About 15,600 state employees undetr the governor’s administration jurisdiction will be The furloughs, which would staryt July 6, are to help close the $2.7 billioj revenue shortfall the state is facing betwee now and June 30, 2011. Four unions representingy state workers have gone to courtf challenging the authority of the governo r to impose the cuts withoutr bargaining and a hearing on one of the challenges is set forJuly 2. The furloughe of workers for threre days a month over the next two years amounts to wage cuts ofaboutg 13.8 percent.
“This is not something we want to do, but somethinbg we have to do to balance the statwe budget and address the unprecedented fiscall emergency we are in due to theprojected $2.7 billio n revenue shortfall,” Lingle said in a statement on Thursday. “kI appreciate the understanding of the state employees who will be affected by the furlough and admire the cooperation they have demonstratedc in helping to ensure that state services will continue to be providede when the furlough plan beginw onJuly 1.” The order, issued Wednesday, referds to the , which calls for furloughs three days a month for two years.
The furloughzs do not include the Department of Educatiomn or the University of Hawaiij and a handful of other statd offices which the governor does not directly such as the Office of Hawaiiab Affairs and thestatre judiciary. But those agencies will have to make theifr own cuts to reflect spending restrictions imposedfby Lingle. The furloughsx are expected tosave $688 million over the next two
Thursday, August 25, 2011
Leaders share stories of books that hit home - Business Courier of Cincinnati:
grachevakautawil.blogspot.com
Former E.W. Scripps Co. CEO Williamj Burleigh, former CEO John Pepper and co-founder Janet Reid will take part in theluncheo series, called By the Reid will go first April 9, with "The Phoenic Principles," which she co-wrote with V. Randolph The book's message is that diversity is a business OnApril 26, Pepper, now the CEO of the , will discusz "Crossing to Safety" by Wallace Stegned or "Self Renewal: The Individual and the Innovative Society" by John Gardner. In an e-maikl exchange, Pepper said he hasn't picked one yet.
"Crossintg to Safety" is a story aboutg two young couples who meet durinf the Depression and form alifelong "Self Renewal" discusses the need to innovated in order to thrive. "'Crossing to Safety' is probablhy my favorite novel for the insights Stegner bring s tothe importance, challeng e and beauty of human Pepper said in the e-mail. Gardner is one of Pepper'sa favorite writers on the subject of leadership andpersonal growth.
"He has written many wonderfup books, but 'Self Renewal' would be my favorite," he On May 22, Burleigh will discuss Aristotle's "Rhetoric," which places the discipline of publi speaking in the context of otherintellectuapl pursuits. Mercantile Library Executivew Director Albert Pyle said the series aims to serve members whoare businesspeople. "This is a literary center," he said. "Buft literary covers a big, wide field." Each talk runs from noon to 1 p.m. Cost is $10 for memberw or $15 for others. Lunch is Reservations at (513) 621-0717 or www.mercantileinfo@mercantilelibrary.com.
Former E.W. Scripps Co. CEO Williamj Burleigh, former CEO John Pepper and co-founder Janet Reid will take part in theluncheo series, called By the Reid will go first April 9, with "The Phoenic Principles," which she co-wrote with V. Randolph The book's message is that diversity is a business OnApril 26, Pepper, now the CEO of the , will discusz "Crossing to Safety" by Wallace Stegned or "Self Renewal: The Individual and the Innovative Society" by John Gardner. In an e-maikl exchange, Pepper said he hasn't picked one yet.
"Crossintg to Safety" is a story aboutg two young couples who meet durinf the Depression and form alifelong "Self Renewal" discusses the need to innovated in order to thrive. "'Crossing to Safety' is probablhy my favorite novel for the insights Stegner bring s tothe importance, challeng e and beauty of human Pepper said in the e-mail. Gardner is one of Pepper'sa favorite writers on the subject of leadership andpersonal growth.
"He has written many wonderfup books, but 'Self Renewal' would be my favorite," he On May 22, Burleigh will discuss Aristotle's "Rhetoric," which places the discipline of publi speaking in the context of otherintellectuapl pursuits. Mercantile Library Executivew Director Albert Pyle said the series aims to serve members whoare businesspeople. "This is a literary center," he said. "Buft literary covers a big, wide field." Each talk runs from noon to 1 p.m. Cost is $10 for memberw or $15 for others. Lunch is Reservations at (513) 621-0717 or www.mercantileinfo@mercantilelibrary.com.
Monday, August 22, 2011
Independent Community Bankers of America backs legislation to slap premium on giants - Orlando Business Journal:
http://risk-regulationit.com/?p=44
Introduced by Rep. Luis Gutierrez (D-Ill.), the Bank Accountability and Risk Assessmenrt Act wouldallow FDIC, in calculating premium chargesw a bank must pay, to consider an institution’e total assets – not just domestic The bill would also requird so-called “too-big-to-fail” banks to pay a systemic-risk premium to the FDIC becauser of the increased risk they pose to the financial system. The proposed changes have won the backing ofthe D.C.-based of America, which represents more than 8,000 smalle banks across the country. “Proportional regulation basecd on risk islong overdue,” says ICBA Presidentt and CEO Camden R. Fine.
“It's only fair the larges financial institutions pay anadditional premium.” Local bankersw are also behind the bill. “I’dr definitely support the changes,” says Thomaz Combs, CEO of Oxford-based Union Bank & Trust. Calculatinyg premium levels by usingtotal assets, he adds, will captured a range of assets dollars held in overseas accounts, for instancd – that haven’t figured in the premiumj bills of larger banks.
Introduced by Rep. Luis Gutierrez (D-Ill.), the Bank Accountability and Risk Assessmenrt Act wouldallow FDIC, in calculating premium chargesw a bank must pay, to consider an institution’e total assets – not just domestic The bill would also requird so-called “too-big-to-fail” banks to pay a systemic-risk premium to the FDIC becauser of the increased risk they pose to the financial system. The proposed changes have won the backing ofthe D.C.-based of America, which represents more than 8,000 smalle banks across the country. “Proportional regulation basecd on risk islong overdue,” says ICBA Presidentt and CEO Camden R. Fine.
“It's only fair the larges financial institutions pay anadditional premium.” Local bankersw are also behind the bill. “I’dr definitely support the changes,” says Thomaz Combs, CEO of Oxford-based Union Bank & Trust. Calculatinyg premium levels by usingtotal assets, he adds, will captured a range of assets dollars held in overseas accounts, for instancd – that haven’t figured in the premiumj bills of larger banks.
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