Bradenton Holiday Inn Express owners seek bankruptcy protection - Phoenix Business Journal:

jwid-infants.blogspot.com
Sroka Hospitality filed for Chapter 11 protection Monday inthe ’ss Middle District of Florida claimint assets and liabilities of between $1 million and $10 court documents said. Sroka Hospitality was foundedc in 2003 and purchased the Bradenton hotel in 2007for $7.2 according to the company’s case management summar y filed with the Revenue was about $1.8 million in 2008 and is expected to be almost half that in 2009 at $1 Bank of the West is still owed $4.3 milliobn while the is owed just under $2 documents said. The hotelp also owes $102,000 to the Manated County Tax Collector, a debt the company Both loans were handlec throughthe .
Bank of the West said the hotel’sz value has fallen from $7.2 million to $2.8 milliojn based on its own appraisal, however, Sroka Hospitality said it believes the property iswortu more. The hotel, located near Statse Road 64 and Interstate 75in Bradenton, sold in 2004 for $4.365 million. Sroka Hospitality purchased it after the companyt soldits St. Augustine hotel in favor of having a Holiday Inn Expressbranderd hotel, according to published reports.

Congress Convenes Without a Kennedy For the First Time in Nearly 50 Years - The Takeaway

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Washington Post

Congress Convenes Without a Kennedy For the First Time in Nearly 50 Years The Takeaway When the 112th Congress convenes next week, it will be the first class of legislators in nearly fifty years that does not include a member of the Kennedy ... Kennedy's exit from Congress leaves a family void Washington Post The sole Kennedy in office, Shriver 'thrilled' to be in local politics Santa Monica Daily Press Patrick Kennedy Announces Retirement MyFox Phoenix The Voice of Russia -Scotsman  »

Webdigs lists shares on OTC stock exchange - Minneapolis / St. Paul Business Journal:

http://www.alternativemedicinetalks.com/wanted-info-on-spine-situation
Webidgs, founded in 2007, is a Web-basedf real estate brokerage that gives home buyere and sellers discounts on realestates services. It also has a mortgage-financing The firm began its process of going public last year when it merged with a dormant shelo of a public company calledr SelectVideo Inc. “Becoming a fully-reportingv public company is anotherd step in our plans to expaned our services in markete acrossthe U.S.,” said Webdigsw founder and CEO Rob Buntz. “We believes the savings we offer are beneficial toour customers, especiallt in tough economic times such as Webdig’s stock (OTC Bulletin Board: WBDG.
OB) was unchanged at 30 centa per share Monday afternoon. The firm has a marketr capitalization valueof $6.6 million. The companyg reported net salesof $235,922 and losses of $551,990 for the threre months ended July 31, its fiscak third quarter, according to documentsw filed with the U.S. Securitiee and Exchange Commission.

Sharpening skills a necessity - The Detroit News

http://personaltouchlv.com/news-tips/Top-10-Customer-Expectations.htm

Sharpening skills a necessity The Detroit News Detroit -- There are points in the NHL season when every team has to look at itself and take account of what's happening. No season ever goes totally ... and more »

King Soopers, workers heading back to bargaining table - Business Courier of Cincinnati:

shemwellmygalej1291.blogspot.com
The contract at hand involved an increas e inpreventative health-care programs and a wage increase, as well as a decrease in pension benefits, King Soopers spokeswoman Diane Mulligan said. workers had protested the pensionbenefit cuts, with the Unitef Food and Commercial Worker s Union Local No. 7 warning that some could lose $100,00p over the life of the and said the wage increases werenot “We are ready, willing and able to get back to the bargainingb table if the corporation is willing to meet us King Soopers worker Julie Gonzalez said in a news release put out by the “All we’re asking for is a fair deal.
And we reallg hope they don’t lock us out for asking for livable wages and a pensiohn plan that recognizes our contribution tocompany profits.” Aboutt 17,000 union workers from the area’ws three largest grocery chains — Albertsons, King Sooperx and — have been in negotiationws with the grocers since Aprio 9 on new five-yeat contracts. Safeway workers have voted to exten their contract untilJune 26, which Albertsons and King Soopers employees currently are workinv without contracts. The rejection of the latesyt King Soopers contract proposal came quicklty after votingbegan Monday.
Workers in Coloradok Springs, Longmont and Boulder are voting today, while Pueblo workers are schedulecd to castballots Wednesday. King Soopers spokeswoman Dian Mulligan said that the rejection of the deal will not have any tangibl effect onstore operations. King Soopers workerse have not cast ballotsto strike. “We’re disappointec in the vote, but we look forward to getting back to Mulligansaid Tuesday.
King Soopers is a unit of Cincinnati-basedr

Rio Rancho looking for public access manager - New Mexico Business Weekly:

symowugebeda.blogspot.com
In early 2005, city officials decided to seek a private contractort to managethe city'ss public access cable services. Previously, the city had managed the operation itself, running a small studipo out of city hall and using city employees for the work. But in July of the city will move to new officesx in the Rio Rancho City Center nowunder construction, and the plans for the $15.8 million city hall do not include studio spacd for public access television. When the city firsr issued a request for proposals in 2005, it received no So it solicited proposals from several companies including Rio Rancho'x , , and Albuquerque's .
Edit Houss withdrew after losing an optiojn to lease a building next door to itscurrenrt facility. Edit House co-owner Ed Smith says he simplgy didn't feel his company couldd fulfill the contract without more The then- $89,000 contract went to Rio Grandd Studios. But in May, the city gave the studioi 90 days notice that it would terminate its City Manager Jim Palenick says the contract was in part, due to Rio Grande'as slowness in seeking a Rio Rancho facility outsidd of city hall, and a failure to meet other conditione of the contract.
Rio Grande Studios' owners Michaelp Jacobs and Ruby Handler Jacobx counter that they lost the opportunity to leas e one desirable space because the city was slow in finalizinv the deal and say the contracyt was terminated forno cause. Nonetheless, the contract is up for bid andthis time, there is quite a bit of Just one day after the June 12 postinh of the RFP, Steve Ruger, contracta administrator for the city, reported four companies had pickee up copies. Two of the four did not identifhy themselves, but one was , which manages the city of Albuquerque's public accesw Channel 27. Steve Ranieri, executive director of Channel 27 and an employee ofQuote ...
was out of town and unavailabldfor comment. The other identified compan wasEdit House. Smith says that with plans for Edit House tooccupyg 2,400 square feet in a buildingh currently under construction across the street from , his compant can handle the new work. "Television has had and continuees to have a huge impact in a community and my wife and I are so committecd to the good things television can provide and we really want to seethat continue," he says. The city'sx RFP was issued on June 12 and proposalws are due at10 a.m. on July 14.

Stimulus package yields lots of changes to tax code - bizjournals:

sunk-need.blogspot.com
As a result, accountants will stay busy. The tax code which took effect retroactivelyto Jan. 1, includer simple tweaks, such as the Making Work Pay Credit that’sw already been funneled to Oregon as well as rules regarding depreciation of capitalequipmentr purchases. The changes have proven populaf amongaccounting clients. A survey of CFOs and seniort comptrollers found that 75 percent of executives plan to use stimulutax provisions. The tax changes, included in the so-callesd stimulus package that aims tofortifuy America’s battered economy, apply to both businesss and individual returns.
“A lot of it is kind of but several of the new rules havebroasd applicability,” said Dan O’Leary, a shareholdee with Geffen Mesher Co. . For example, the maximuj tax credit for first-time home buyers rose from the 2007 tax year levelpof $7,500 to $8,000, and can be claimed on 2008 tax returnes for homes purchased in 2009. It also eliminatezs any required repayment to the s aftert the buyer spends 36 months intheir “Several of my clients’ children have extended thei r 2008 returns, or will file amenderd 2008 returns, in orde to claim the $8,000 credit,” O’Leary said.
“Eight thousandc dollars can go a long way when buying shower garbage cans, lawn mowers and other things you need when buyin your home.” Overall, the new stimulus provisions make more than 300 changes to the Internal Revenue Code, accordingt to CCH Inc., a Riverwoods, Ill. researcher that’as analyzed the impact of several of thepending changes. Most incentives in the law are retroactiveto Jan. 1, whilwe most of the tax relief will provide benefitx in the nexttwo years. For businesses, sevebn reforms stand out amongthe stimulus-related The “Making Work Pay Credit.
” Considered President Baracmk Obama’s individual tax relief trademark, the provision allow a credit against income tax in an amount equal to the lesser of 6.2 percent of the individual’ds earned income or $400 for individuals. Marrie couples filing jointly wouldreceivee $800. Individuals with gross incomes lessthan $75,0000 (married couples less than would qualify for the full credit whiles those earning more would collect 2 percent or 4.2 percent of earnefd income. The alternative minimum tax “patch.
” Whiles the alternative minimum tax helped ensure that wealthuy taxpayers indeed paidtaxes (as opposed to using loopholes to generats refunds), it snared several middle-class workeras in its net, forcing them to pay highert amounts. Congress approved a “patch” last year that alleviated the issue by raisingexemption levels. For the stimuluss package, lawmakers raised the exemptiohnamount slightly, to $70,950 for married couples from $69,950. The amount for individuals rosefrom $46,620 to $46,700. While it may not soun d like much, the patcn helps exempt around 26million middle-income taxpayers from payinbg the alternative minimum tax, accordingt to CCH.
The patch costs the federal governmentaboutt $70 billion in revenue. Unemploymentf compensation. While unemployment benefitw are currently includedin recipients’ gros s income for federal income tax purposes, the new law temporarily excludess up to $2,400 of unemployment compensation. The provision lastas through 2009. Small-business expensing. Under Section 179 of the InternaRevenue Service’s Code, sole proprietors, partnershipas or corporations can fully expenss tangible property in the year it is purchased. The 2008 Economi c Stimulus Act increased the amount they can expensdeto $250,000 from $125,000.
The act also ups the cap on how much companies can spend on tangible property and still be considerec asmall business. They can now spend up up from $500,000, on expensesd equipment and still benefit fromthe $250,000 expensed amount. Net-operating losses “carryback.” The IRS now allows smalol businesses with deductions exceeding their incomwe in 2008 to use a new net operating loss or retroactivefiling status, that extendsa the normal carryback period from two to five The move allows businesses to collect refunds of taxes paid in previousd years.
O’Leary said the provisiojn is popular in industries such as real construction and auto dealers that incurreds losses in recent tax years but paid significant taxess priorto 2006. Bonus depreciation. In most the new law extends a first-yea bonus depreciation of 50 percentthrough Dec. 3, 2009. In othef words, businesses can immediately deduct half of many newinvestment costs.

National Aquarium in Baltimore postpones part of $50M waterfront project - Baltimore Business Journal:

houston-nearly.blogspot.com
The facilities were part of the aquarium’d planned Center for Aquatic Life and a $50 million waterfront development and park that’s been in the works since 2004. Aquariun spokeswoman Jen Bloomer said the nonprofigt suspended its fundraising efforts for the new building s because of thebad economy. “The Middler Branch location continues to be top of mind at theNationalk Aquarium,” Bloomer said in an e-mail. “Because of the economic situation, we are not fundraising for a building on the site at this The project includes relocatingthe aquarium’s Marine Animal Rescuew Program from Wolfe Streetr in Fells Point to the Middler Branch property.
Construction on the projecr had been slated to beginb byMarch 2008, with completionn later this year. Bloomer said the aquarium stilo plans to move ahead with plans to cleann up the contaminated property in ordeer to turn it into a publicly accessiblrwaterfront park. That work has been approved for $2.3 milliohn in federal transportation funds. But the aquariumk needs to provide $375,000 in matching fundws in order to qualify for the grant saidJamie Kendrick, deputy director of the city transportatiobn department. Bloomer could not be reached for additiona comment on the project or its The delay is the latest setback for the popular InneeHarbor attraction.
In February, Fitcn Ratings downgraded the aquarium’s bond rating to just two notchesw above junk bond status because of its sagging attendance andfinancialp performance. The aquarium is projecting 1.35 million visitors this a nearly 6 percent decline from according to theratings agency. Fitch also noterd the aquarium’s available funds fell 31 percentto $23.8 million for its last fiscal year.

Auditor-General condemns federal integrity watchdog's conduct - Globe and Mail

http://hondaautoclub.com/2000-invoice-and-msrp-pricing-theautoreport-com

Globe and Mail

Auditor-General condemns federal integrity watchdog's conduct Globe and Mail Auditor-General Sheila Fraser says the woman appointed to protect federal whistleblowers engaged in “inappropriate conduct” with her own staff and meted out ... and more »

EPA settles with TS Trim of Canal Winchester - Sacramento Business Journal:

http://judotwins.nl/index.php?option=com_content&view=article&id=253:2-x-zilver-in-lommel&catid=3:nieuwsflits
The EPA on Monday discloserd details ofan $82,500 settlemen t with that will see $68,1609 headed to state and local pollution contro l programs and $17,040 earmarked for a school bus retrofity program. TS Trim coats interior plastic parts and is a majofr supplierto Marysville-based and , according to its Web TS Trim has permits to spragy its products while keeping in compliance with pollution controls, but according to the the EPA between 2006 and last year identifiee a number of problems at TS Trim’se two Canal Winchester plants.
The EPA said the company failee to keep regular records of instancesa when it exceeded federal emissionsa standards and also jumped the gun on a constructionb project before the state had issued akey permit. The EPA said TS Trim’s pollution controlsw didn’t hit the mark during a 2007 compliancs test, but new equipment installed since then should put the companu backinto compliance. Under the settlement, the companuy has a month to show that its plants meetemissions standards. A company representative wasn’t available Monday as TS Trim is undetr aseasonal shutdown.

Thursday is Dump the Pump Day - Triangle Business Journal:

grearqakususi1426.blogspot.com
Thursday is the fourth annual Dump thePump day, a nationalk effort designed to get people out of their cars and onto theire bicycles or public transportation. The American Public Transit Association sponsordsthe event, and public transportation systems across the countryg are participating. In South four public transit agencies are partnering togethe r to promotethe day: Browarcd County Transit, Miami-Dade Transit, Palm Tran, and Soutj Florida Regional Transportation Authority.
“With gas prices increasing 33 percengsince December, coupled with uncertain economivc times, people have been looking for ways to save and ridinf public transportation is a great choice to APTA President William Millar said in a news In Florida, the average price for a gallonj of regular is In South Florida, West Palm Beach has the highestg price at $2.78, followed by Miami at $2.76, and Fort Lauderdale at $2.74 a gallon, accordingy to AAA's fuel gauge report. Last year 10.7 billion trips were taken on public transportation in theUnitesd States. This was a 52-year marking a modern ridership record, accordinfg to the APTA.
Public transportation use is up 38 percenf since1995 – almost triple the growthj rate of the population (14 Nationally, nearly 2.6 billion trips were take on public transportation in the first quarter of this year. With local and state revenue for publicd transportation drying up due tothe economy, many public transportation system are being forced to raise fares or cut Millar noted. In South Florida Tri-Raipl officials have been warningf that service may be cut approximately in half if the state faile to establish dedicated fundingyby Oct. 1. The threat to service comexs after Tri-Rail set a recordd year for ridership growthin 2008.
“Raising farews and cutting service drives peoplw away from using public transirt andis counterproductive, as America struggles to create jobs, cut greenhouse gases, and reduce our reliance on expensive foreign oil,” Millar said. Just last week, South Florida’as congressional delegation sent a letter to the askinh for dedicated fundingfor Tri-Rail to secure its long-ter survival.

Second recession deemed possible - Atlanta Business Chronicle:

http://www.venice-hotel-guide.com/2003/venice-city-centre-hotels.html
Those odds may seem low, but they’re actuallty high since double-dip recessions are rare and the U.S. economy growsz 95 percent of the time, says the chamber’s Mart Regalia. He predicts the current economidc downturn will endaround September. However, the unemployment rate will remain high througbh the first half of next year andinvestment won’t snap back as quickl as it usually does aftetr a recession, Regalia says. Inflation, looms as a potential problem because of the federal government’s huge budget deficites and the massive amount of dollaras pumped into the economy by the Federal he says.
“The economy has got to be runningv on its own by the middle of next Regalia says. Almost every major inflationary periodin U.S. historu was preceded by heavy debt levels, he The chances of a double-dip recessionm will be lower if Ben Bernanke is reappointef chairman of theFederal Reserve, Regaliwa says. If President Barack Obama appoints his economicf adviser Larry Summers to chairthe Fed, that woulc signal the monetary spigot would remain open for a longerr time, he predicts. A coalescing of the Fed and the Obamaw administrationis “not something the marketz want to see,” Regalia Obama has declined to say whether he will reappoint whose term ends in February.

An option with heart - bizjournals:

http://maximaspb.com/Maxima/beta-swaziland-maxima-hummus-48.html
Doctors at the rejected him for surgery, tellinbg the 44-year-old he was too But they did recommend a procedure called external a non-invasive treatment that stimulatesw the heart. But he would have to drivew from his Western New York home to Rochestere more than 30 times over the course of a year to receivethe treatment. It worked: In the 10-pluas years since, Hirsch’s father has not been rehospitalizexdeven once. Hirsch, a pharmacist, says it was durinb one of those drives to and from treatment with his fathefr that he became determined to bringf external counterpulsationto Buffalo. “It’s a greart option for patients withheart disease.
Unfortunately, it’sx known as a last-resort treatment We’re trying to slowly change that and give peopledan option,” Hirsch says. Who’s who: Aaron Hirsch, presidentf & CEO; Kerrie Hirsch, human resources manager; Dr. Leon Levinsky, medical director and cardiothoracic surgeon; Dr. Ranjan medical director and cardiologist; and Dr. Michaepl Mehrige, medical director and cardiologist. Totap employment is 11. What’s going on: VascuFlo provides external counterpulsation, a non-invasiver treatment for heart andvascular patients. It is the only independeng clinic inthe eight-countt Western New York region offeringv the procedure.
Approved by the FDA in 1995 as a treatment forhearg disease, the says the procedurwe improves the balance between the amount of oxygeh the heart needs and the amount it The treatment provides relief of shortness of breath and fatigue. Patients are fittede with pressure cuffs ontheitr legs, which are inflated in This compresses the blood vessels in the legs and forcexs it back up to the heart. The treatmenr is covered by all local insuranced providers and is most often used on patientz who are unwilling or unablee to go through aninvasives procedure, or for whom such surgeriesd have failed.
History: Hirsch opened VascuFlo in Amherst in 2002, placing his first one-bed system inside the cardiologty offices of Dr. Mehrige. Hirsch financed the busineses with help from an small business loan. A second systekm followed, housed in the Niagara Fallss cardiology officesof Dr. Bhayana. The third site openexd with three systems in Cheektowaga under the directionof Dr. a cardiothoracic surgeon and directorof Kaleida’s cardiacv device clinic at . Next came a site in Lake Shors forSouthtowns patients, followed by a majorf expansion at the Cheektowaga site this The company now occupies about 6,600 square feet at the Waldem Avenue site.
Today, VascuFlo operatee 15 external counterpulsation systems at the five siteds with capacity to treat up to 80 patientsper day. That includesd a mobile unit currently housed in Conewangl Valleynear Pennsylvania. Levinsky, a surgeon for nearlh 45 years, says the procedure accomplishes the same goal as surgically insertiny balloon ina patient’s aorta – but without the cost and risk associateds with surgery.
“We have doctors who don’t know anythiny about this and cardiologistswho don’t believse in it, but we try to get the messags across,” says Levinsky, who lectures across the region aboug the procedure and spreads awareness while on roundsw in area hospitals. “We know that stentinh does not prolongthe patient’sz life in most cases. It does relieve symptoms, but it does not prolong the patient’s life. We feel we have a Revenues: The company expects to see revenues this yearof $1.
5 up from $1 million last For 2010, Hirsch projects revenues of $3 millio with the addition of cardiac rehab and What’s next: VascuFlo will begin offering cardiacx rehabilitation services this summer, helpingh to fill a growing need in the region. The shut down its Mercgy AmbulatoryCenter (MAC) this year, while Buffalo Generakl Hospital closed its cardiac rehahb unit a few years ago. Rehab is an integralo part of the post-surgical process, and is typicallh covered by insurance for about seven week VascuFlo plans to offer a maintenance programm as well for those who wish topay out-of-pocketr for continuing rehab.
Plans call for hiring two exerciss physiologists initially forthe facility, along with a chiropractodr and acupuncturist. Another related business set to open this July at the VascuFlok Centeris VascuScript, an on-site, hybrid pharmacy that will offed free delivery and mail-order business, as well as retaiol pharmacy business. Hirsch, a 1994 School of Pharmacy is partnering with two classmates on that Ken Andrus; and Dean who serves as president. 2470 Walden Suite 2200 Cheektowaga, NY 14225 Web www.vascuflo.
com

Apple may drop into Catawba County - Birmingham Business Journal:

http://www.minbuk.net/1999/parks/frontier-land.html
The Apple center would create 50 jobs and represenrtNorth Carolina’s second-largest incentive package ever. Huge servetr farms are already on the want saysScott Millar, president. “They’ve been a target of ours for four Several data center projects are considering the he says. The primary site that interests Appls isthe 180-acre Catawba Data Park, a greenfield project planned along U.S. Highwa y 321 near Newton, sources say. Therer Apple would get its preferencre for a campus setting with otheerdata centers.
Perdue says Apple will build in Nortnh Carolina butshe didn’t announce a specific “We welcome Apple to North Carolina and look forward to workinv with the company as it begins providing a significant economid boost to local communities and the state.” Apple spokeswoman Susan Lundgren says construction in Northy Carolina will begin soon. “We are gettint started right away to acquirea site.” The announcemen comes after Perdue signede Senate Bill 575, which modifies the method by which capital-intensive businesses calculatse corporate income tax liability in Norty Carolina. The N.C.
incentived would rebate $46 million to Apple over the next 10 If the center operated for 30 the price tag of the inducements would zoomto $300 according to a legislative Apple has hired of Atlanta, an offshoot of that developa data centers. T5 tried to interest Applee inthe 215,000-square-foot former Chris-Craft facility in Kingd Mountain. Millar deflected questions about Apple. “Ir there were a user on the hook, I would be callingy you,” he says. Apple needs the East Coasft site for its servet farm to handle growth in its iTunesonliner store. Its last significant data center, a $50 milliobn facility, opened in Newark, Calif., in 2006.

Mysteries remain in Jason Yang's death - Twin Cities Planet

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FOX 9 News

Mysteries remain in Jason Yang's death Twin Cities Planet Yet, this is the exact location where police say 29-year-old Jason Yang "jumped to his death" in the early morning hours of Saturday, November 13 while ... Police deny accusation that officers killed Jason Yang KARE Chief Dolan: No Shots Fired in Off-Ramp Death of Jason Yang FOX 9 News ME denies fleeing man was shot KSFY WKBT -KSTP.com  »

BB&T income falls - Washington Business Journal:

http://inetbrush.com/gps-receiver/for-sale-htc-diamond-and-apple-iphone-3g-for-just-300_4.html
The Winston-Salem-based BB&T (NYSE:BBT) saw nonperforming asset and credit losses rise during the but were within the range the bankwas expecting, said CEO Kell King. Nonperforming assets increasedto 1.92 percentf of total assets as of March 31, comparedx to 1.34 percent on Dec. 31. The provisiojn for credit lossestotaled $676 milliobn in the first quarter of up by $453 million from a year “Our overall earnings were relatively strongf given the higher loan losse and additional loan loss and our capital levels and earningss power remain strong,” King said.
BB&T said it is continuin to make use of the moneyh it received from the federal government under the TARP The bank said it madeaboug $1.9 billion in “additional” loans since it sold $3.1 milliomn of preferred shares to the government. BB&r paid $40 million to the U.S. Treasury as dividends on those sharess in the first Kingsaid BB&T’s board boosted dividends to common shareholderw by 2.2 percent for the first quartetr from a year ago, to 47 centas per share. As of March 31, BB& had $143.4 billion in totalo assets.

South Sudan anticipates voters rush as north experiencing weak turnout - Xinhua

http://topofilia.net/valdez.html

Reuters Africa

South Sudan anticipates voters rush as north experiencing weak turnout Xinhua 21 (Xinhua) -- As registration centers in north Sudan are complaining about the weak turnout of voters who have rights to vote in south Sudan referendum, ... Sudan's NCP threatens to reject referendum result Reuters Africa South Sudanese referendum registration underway amid reports of hampering Al-Masry Al-Youm South Sudan Party Says North Attempting to Rig Independence Vote Bloomberg AFP -The Media Line -Coffetoday  »

Think tank ranks Colorado least attractive state for oil, gas investment - Dayton Business Journal:

http://4youb.com/en/business/page_15.html
The latest survey was issued June 24. It’es been conducted annually for three yearse by the Fraser Institutein Calgary, Canada. Arizona was left off the list for lack of The survey ranks states as well as other Thefirst survey, in 2007, ranked Coloradi at the top of the list of placew executives considered positively for oil and gas investment. By 2008, the state’ws ranking had fallen to No. 52 out of 81 locationsx aroundthe world. The June 2008 surveyy said executives had grown wary ofthe state’s effortd to tighten rules governinfg oil and gas operations here. The new rules took effec t April 1.
This year, the survey received 577 responsezs and covered 143 jurisdictions around the Coloradoranked No. 81, below California and Mozambique, and abov e the Canadian province of Newfoundland and Labradoe and the nation of All three surveys by the institute solicitefanonymous responses. According to the institute’s report, the 10 most attractivew jurisdictions for investmentthis year, according to the are: Arkansas, Alabama, Kansas, Mississippi, Nebraska, South Dakota, Texas, Oklahoma, and The 10 least attractivw jurisdictions for investment are Bolivia, Venezuela, Ecuador, Sudan, Bangladesh, Nigeria, Kazakhstan and Ethiopia.
Respondents ranked states and countries by investment barriera such as hightax rates, costly regulatory and security threats, among other factors. Scores were basef on the proportion of negatives response a jurisdiction the greater the proportion of negative the greater the perceived investmenrt barriers and therefore the lower the jurisdiction according to thesurvey report. The report said investorsa listed several reasons for shifting investmentsx toother areas, ranging from high tax rates, labor shortages, or costly and time-consuming regulations.
The surveg quoted an unnamed executivee saying thatin Colorado, “operational, legal, and air qualitty rules and regulations are being instituted at a dizzyingt pace. It is hard to keep up with as an operator. Most of the regulatorw instituting and enforcing these new rules have littlew or no experience in the industryy and do not understand Often they cannot answer questionsor help, even with theidr own rules.” Colorado’s new oil and gas regulations were backerd by Gov. Bill Ritter and environmentalk groups as needed toprotect Colorado’s wildlife, environmenft and public health assets.
The new rules have been opposed byindustry executives, who have said they will raisee the costs of operating in “This study demonstrates the harsh realithy of an inconsistent regulatory regime, and thesse numbers run contrary to the belief of some policy makeres that Colorado’s energy industry will grow no matter the constraints placexd upon it,” said Meg Collins, president of the Coloradko Oil & Gas Association, in a statement.
But Theo spokesman for the Colorado Department ofNaturapl Resources, which oversees the agency that regulates oil and gas pointed to Colorado investments by big energyu companies such as interested in gettingb at the state’s natural gas. ExxonMobil announcerd June 22 it had doubled its naturalo gas processing capacity on the Western Slopre and planned to drill more wells in the area over the nextseveralk years. “Actions speak louder than words,” Stei said. “Some of the larges North American and global energy companies are busy workinf and investingin Colorado’s future. They are planning to be here producinh clean-burning natural gas for But state Rep.
Frank R-Highlands Ranch, said companies like ExxonMobil have the monegy needed to complywith Colorado’se new rules. “They can absorb the higher costs of production that are associated with the oil and gas McNulty said. “But what the Ritter administration has done is pricede outthe mid- and small-level companiesa that were looking to do business in Colorado.” The Frasefr Institute is a think tank and research center that advocatesa “a free and prosperous world througn choice, markets and responsibility.” .

Arms control: Clarity in the Senate - Politico (blog)

http://www.scuba-instructors.com/shipwrecks/0004-benwoodl-wreck.html

Politico (blog)

Arms control: Clarity in the Senate Politico (blog) AP Photo Close By JOHN PODESTA | 11/18/10 6:57 AM EST It is time for a moment of clarity in the Senate. The New START treaty has genuine bipartisan support ... and more »

About to lose a job? Go back to school - The Business Journal of Milwaukee:

http://www.dameiflocking.com/iran-kritikuet-rezolyuciyu-magate/
Kupczak-Rios, 55, was laid off for the thirc time from her job as a flight attendantt forin September. In January, she started classes in the horticulturee program at the Mequon campusof . Kupczak-Rioes worked for Midwest Airlines for seven When the latestlayoff “everything looked so dismal. I just felt like it was time to take care of myself and come up with a new she said. Because she’s considered a displaced her education is paid for by the federal dislocateddworker program. Prior to working at Midwesgt Airlines, Kupczak-Rios worked as an artist and had her own businesssdesigning hats.
She already has a degree in fashionb design, but she’s also an avid gardener and has an interesy inthe environment. She was interested in landscape architecture, but the time and cost to pursuwea four-year degree was unrealistic for her. Then she foundr the horticulture programat MATC. She’s pursuinbg a two-year associate degree in the program’sd landscape design track and plans to work in residential landscape design when she completesher education. When the economt rebounds, “it’s going to pick up on the greenedr side.
I think that alone is wortg spending thetime for,” she She also believes her new career will allow her to earn more than she did as a flighrt attendant. Going back to school probably isn’tg for everyone, Kupczak-Rios But she’s always believed education is empowering. Kathh VanDemark, a counselor at ’s West Bend has seen an increase in the number of peoplw who have been laid off and want to returjto school.
“It’s a good thinv to gather, gain some new skills while the economy’z bad, so that you’rr being productive during this time,” she The college offers career workshops, assessments and exploratiob to help people figure out what field to Many people just want to know where thejobs are, but VanDemarok said it’s more important to find out what interests a studen and what he or she wants to do. “Why work hard at something you don’t like?” VanDemark said. Pam Godsey sought the help of the work forcw center at to decide what classesd sheshould take.
Godsey, 47, of Waukesha, has been laid off from two different interior landscaping jobs in the lastfew years, with the most recenyt layoff occurring in September. She had worked in salez for one company and was a manager for That was one reason she wentto WCTC’sz work force center. Assessments confirmed accounting, whichu she was already interestedx in, would be a good fit for her. “ I expand my base of marketable skillseithe way, but accounting is really where my interest she said. John Berg of Brookfield foundd an academic area that interested him and had promisinf opportunities when he decided to pursue a financial planning degreeat WCTC.
54, who lost his job as a powerhousr firemanat /Tower Automotiver in August 2006, is in his last semesteer at WCTC. He wanted to gain better knowledger for hisown investing, but also was encouragede by the job He already is working part-time as an investment adviser and will switch to full-time after graduation. “It’es been very challenging,” Berg said of returning to “The amount of homework requirer was beyond my and it’s really a learning

Brain Organizes Itself for Introspection as Children Age: Study - BusinessWeek

http://www.qai.org/inspection-windows-doors.html

Brain Organizes Itself for Introspection as Children Age: Study BusinessWeek 14 (HealthDay News) -- As children mature, increased synchronization between specific areas of the brain alter how they view themselves and others, ... Why kids and teens turn egocentric rather than introspective Sify  »

Russian archbishop sacks clergy accused of alleged child abuse in convent - RIA Novosti

http://www.nokiamobiles2003.org/6810.html

RIA Novosti

Russian archbishop sacks clergy accused of  »

Bako Sahakyan hosts SRC delegation - Aysor

http://www.directgenomics.com/article/On-the-Cheap--Best-Buy-to-Sell-249-Laptop-.html

Public Radio of Armenia

Bako Sahakyan hosts SRC delegation Aysor Artsakh Republic Vice Prime Minister, Finance Minister Spartak Tevosyan and Head of the State Tax Service Artak Balayan were also present at the meeting. Armenia, NKR develop cooperation in tax field PanARMENIAN.Net  »

O

http://snagahouse.com/furnished-apartments-mississauga.html
That’s what officials at must be thinking after landingv two new jobs in the middle of a commercial realestate slump. Jones Development, a Kansas City-basedf firm specializing in industrial development, is the construction manager fora $5.3 milliomn buildout of an existing 410,000-square-foot buildiny in Moreno Valley, Calif., that the booming auto partse company will use as a distribution center. O’Reillg also picked Jones Development to managd construction ofa $7.3 million, 115,000-square-footf office building in Springfield, Mo., for a headquarters expansion. , a general contractor based in Columbus, will team with Jones Development onboth projects.
Kevin Jones, founder and presidenft of Jones Development, said the new jobs are the resulr ofthe firm’s performance on O’Reilly’s 215,000-square-foott Kansas City Distribution Center, scheduled to open in Augus in Executive Park. “I really view it as an expansiomn of our relationshipwith O’Reilly, similar to our relationshipp with FedEx,” Jones said. Jones began working with during a prior brokerager career inthe 1980s. He said he has parlayerd that relationship into the development of 82 projectws forthe package-delivery giant by bringing each projecrt in on time and on budget.
Brad Jones Development’s project manager for the O’Reilly said the chances of cultivating the relationshipwith O’Reilly had seemed slim. “When we first started working on the KansasCity project, they told us it would be a one-and-done, with no opportunity for future projects,” Walthall said. O’Reilly has a division that typically handles its construction management anddevelopmenr services.
Mike Young, director of construction for said the company made an exception for the Kansas City project during negotiations with the owner of the ExecutivePark “We were real pleased with the job (Jones Development) did on the Kansas City project,” Young said. “Spo they’ve become another asset for us to utilize with everythinv we have goingon now.” This year, O’Reillt is adding 150 new stores, Young and plans to add an undiscloses number of new distribution centers in the near “There certainly will be more opportunities for (Jones Development) to be a bidder, for sure,” Yountg said.

Stimulus funds lag health woes - South Florida Business Journal:

ernstiryastrov.blogspot.com
That’s the view of the eight-member panel of industry and medicapl experts who were invited by the Southy Florida Business Journal to share their viewsx of whatthe $787 billion federal stimulusa package means to the healthy care sector. What emerged was a broasd discussion of how stimulus legislatiob is just one piece of change needes in an industry that has run financially amok due to an overreliancseon specialists, shortfalls in information technology and patients who are undereducated. The Congressional Budget Office has projected that total nationao spending on health care could hit 48 percent of grosse domestic product by 2050 ifleft unchecked.
To solvde this problem will takemore money, though, in the short The Obama administration’s $59 billioj for health care stimulus spending includes $19 billiojn for electronic health care records. Startingh in 2011, doctors who can show meaningful use of electroniv medical records will get incentives and thosewho don’t will get decliningy Medicare payments. But, the old-fashioned general practitioner may also have abig role. Linda Quick, presidenf of the , said health care reform legislationh that coincides with the stimulud calls for individuals to have a home locationm or a primarycare provider.
She said that allowz for “a community location close to home and gettinh more done in a actually high clinicaltechnology setting.” in turn, will also translate into a less costly the panelists said. Rachel Sapoznik, CEO of , said: “The reasonh I believe in the last 25 years of seeinyg health care costs rise dramaticallty is we have moved away from the primary care physicianb knowing the patientto specialists.” Patients go from specialist to specialist to get each ailment but an overview of their condition and family historyt is lacking. George Foyo, executive VP and chief administrativ officerat , said: “Piggybackinf on primary care is absolutely right.
All theser specialties are adding thousands and thousandsof dollars.” One problemn is that specialists tend to overdo testse because they are so worrieds about legal liability issues, he said. Dr. Tony a family practitioner and presidentr of the Broward CountyMedicak Association, said reimbursement issues for tests done in his officew also frustrate him. A hospital might get $2,0000 for a test from Medicare, but he can only get “I don’t think it’s anything that’s going to work unlessa we use some common he said.
Foyo said primaru care physicians historically put an emphasis on healthpreventionb efforts, but the lack of it thesd days is contributing to an epidemi of diabetes and heart issues. Baptist Health, which is well knownh for hospitals in Kendalloand Homestead, is pushing forwarc with outpatient centers – and even venturing into Broward One reason is emergency rooms are and providing care there is more costly than at an outpatien center.
“Rather than have patients cometo us, the hospitalsa are going out to them,” Foyo Florida’s 51 nonprofit community health center are getting $28 million in competitivw grants under the stimulus legislation, whicy will also keep patients out of expensive hospital settingxs for treatment. House Speaker Nancy Peloski highlighted that during an Aprikl visit to a community health centee in Hollywood that willget $1.
5 millionj to open a satellite health center in West One of the advantages for these typees of centers is that they are funded with the assumption that theire doors will be open to all who come, which is importanyt because of the number of uninsured South including undocumented foreigners, Quick Dr. Welby, meet Bill Gates Mark Sterling, administrativ e partner at the law firm ofin Miami, said electronix medical records (EMR) fall under the category of projects in the world of stimulus – meaning the technologyt exists and can be adopted rapidly to put monehy in the economy.

Procter & Gamble acquires Zirh men

http://carinsurance20xx.net/Sydney-car-auctions-146.html
The line includes shaving deodorant, skin cleansers and moisturizers. New York-based Zirh product are sold in high-end department specialty outletsand online. Locallh they’re available at Macy’s in Anderson Townshipo and Sephora at KenwoodTowne Centre. Financial terms of the purchased werenot disclosed. “Although it is a relatively North American-centric business, (Zirh’s) super-premium positioning and producgt lineup is a perfect complement to our saidChip Bergh, P&G's group presidenf of male grooming, in a news release. This is the secondr for P&G this month. In early June, the company boughyt the Art of Shaving.
In addition to its men'sx shaving line, it sells skin care products, fragrances and a line of upscald women’s shaving products. The chain was foundexd in Manhattanin 1996. In the fiscao third quarter, sales of P&G’s grooming products declined by 16 to $1.7 billion. Profits in the sectot were down24 percent, to $306 million. Proctetr & Gamble (NYSE: PG), headquartered in Cincinnati, manufactures and markets consumer productsand pharmaceuticals.

America and India: The Almost-Special Relationship - New York Times

http://nicholaskitchen.com/nicholaskitchen_teaching_repertoire.html

Telegraph.co.uk

America and India: The Almost-Special Relationship New York Times Rajanish Kakade/AP By JIM YARDLEY NEW DELHI â€" At a panel discussion last week on relations between India and the United States, Strobe Talbott, ... Why the US needs India Economic Times Irritants apart, Indo-US ties will endure Hindustan Times Over here, Mr Obama, you can still win Daily News & Analysis ABC News (blog) -Asia Bizz -Human Events  »

Software developer, at helm of new company, hunts for state business - The Business Review (Albany):

http://www.psinterface.com/audio_player.html
GCOM, located on Washington Avenue Extensionhin Albany, is 4 months old. its five employees (who are also part-owners) servicw the company's five clients, but Bhatiza is looking for thre employees to fill programminyg positions that pay salaries ofbetwee $65,000 and $100,000. He expects to have 40 employees withimntwo years. Bhatia said the company will closwe 2006 with revenue ofaround $800,000. He projects sales of $3.5 million in 2007. "Wer want to be a Bhatia said. Bhatia, 46, co-founded Rapixd Application Developers of Troyin 1997. He sold the 36-persobn company in 2002 to Montreal-based Bhatia moverd to India the next year tohead . Ltd.
's 750-person Bhatia said he thought that was the end of his time in theUnitex States. He left his motherd and brother in the Capital Region and moved to hisnativ Mumbai. "I was interested in primaril migrating backto India," he said, wheres he still had uncles and cousins. "I thoughty I was done with the U.S. I had a good 20-yead stint. It was fun." Bhatia wanted his son, to get in touch with his heritage, but that didn'rt work out. "He didn't like India," Bhatia "He couldn't adjust to the So Cirag, who is now 9, and Bhatia's Divya, moved back to the Capital Regio nin 2004.
Bhatia followed nearly a year late r and worked for CGIin Albany. But that job he said, requiring more After being away from his familhy for about a Bhatia decidedhe didn't want to be on the "I felt it's a lot more fun running another company," he said. Riyaz GCOM chief operating officer, was working at CGI as a seniort consultant when he learned Bhatis was backin town. "Iu was bored with the type of work I was doinbgat CGI," Ladkhan said. "I wantesd to do something different. I buggedf him for four or five months tostaryt something. I worked for him as an employee. He was He knows how to manage people and builda team.
That was very important to Bhatia noted that in 2001 Rapicd Application Developers was named Smalll Business of the Year bythe Albany-Coloni Regional Chamber of Commerce. "Our objective is to get back Bhatia said about winnning theaward again. "It's hard to get back in he said. "I'm a little nervous. The expectationse are very high from the people whojoined me. They want to get back to the old glor ofthe past. I know nothingy is given. You have to earn back the trus t ofmy customers." Bhatia said it took abouyt four years to get Rapidf Applications to a strong position. "We're hopinfg with our experience and expertisd we can cut it to he said.
Bhatia said GCOM isn't competing with CGI and he hopes to do subcontracting work for hisformer employer.

Lego store to open at Easton - Business First of Columbus:

vishnevskiipavuh.blogspot.com
Easton co-developers and said Lego will occupy 2,000 square feet in the mall’ws north district at 4004 Gramercy St., near othed stores geared for children such as Pottery Barn Kidsand Children’xs Place. The company will be the first tenanyt in anart deco-style retail spacse under construction outside the open-air mall’s 30-screen AMC theater, the developers said. For Lego, the store will mark its firsg in Columbus and second in The company’s first store in the state openex in Cincinnati’s Kenwood Towne Centred last month.
Plans for the store includer a “pick-a-brick wall” that gives customers the option to buy specific Lego bricksz and other products in bulk and an interactiver play area in the center ofthe Lego’s Web site lists open and in-the-worksw stores in 38 cities and 21 states nationwide. The Danish compang also has shops in the United Kingdomand

King Soopers, workers heading back to bargaining table - Nashville Business Journal:

gardellaorymiid1354.blogspot.com
The contract at hand involvede an increase inpreventative health-care programsx and a wage increase, as well as a decreas e in pension benefits, King Soopers spokeswomaj Diane Mulligan said. However, workers had protestedd the pensionbenefit cuts, with the United Food and Commerciap Workers Union Local No. 7 warning that some could lose $100,000o over the life of the and said the wage increases werenot enough. “We are willing and able to get back to the bargainint table if the corporation is willing to meet us King Soopers worker Julie Gonzalez said in a news releas put out bythe union. “All we’rwe asking for is a fair deal.
And we reall y hope they don’t lock us out for askingh for livable wages and a pension plan that recognizes our contributiomn tocompany profits.” About 17,000 unionm workers from the area’s three largest grocery chaines — Albertsons, King Soopers and — have been in negotiations with the grocersa since April 9 on new five-year Safeway workers have voted to extend theier contract until June 26, which Albertsons and King Soopers employeea currently are working without The rejection of the latest King Soopersx contract proposal came quickly after votingg began Monday.
Workers in Colorado Springs, Longmont and Bouldefr are voting today, whilre Pueblo workers are scheduled to castballotsz Wednesday. King Soopers spokeswoman Diane Mulligah said that the rejection of the deal will not have any tangibl effect onstore operations. King Soopersd workers have not cast ballotsto strike. “We’rwe disappointed in the vote, but we look forwarc to getting back to Mulligansaid Tuesday.
King Soopers is a unit of Cincinnati-basedf

Academic 'crisis' averted - Macleans.ca

http://lehmanpa.com/emergency.html

Academic 'crisis' averted Macleans.ca On Wedenesday, Meric Gertler, Dean of Arts and Science met with the chairs of  »

NTS buys Plainview Apartments - Austin Business Journal:

http://www.disabilityhistory.net/leephil.html
Financing for the which was made through anNTS , was provided by the , according to a news The purchase price was not disclosed. The previou owner was PlainviewApartments LP, a Denver-based investmenty partnership, according to online records from the Jefferso County Property Valuation Administrator and the Kentucky Secretarg of State. Its assessed value for tax purposesis $9.7 according to the PVA Web site. Occupancy at the time of the purchasde was about94 percent, the releas e said.
NTS plans to enhance and renovatew the property but no details were disclosed in the The apartment complex was developedx as part of the Plainviewplanner community, which includes 800 single-family more than 1,000 apartments, 500 town homes, multiple shoppingt centers and nearly 2 million squarr feet of office space. NTS begamn construction and development of theplanned Louisville’s first, in the earlhy 1970s. With the acquisition, NTS Development Co. and its affiliatess now own four apartment communitiesin Louisville. Its otherf holdings in the area are Hurstbourne Grand The Overlookat St. Thomas and The Willoww of Plainview.
NTS also manages 14 othed apartment communities and 31 commercial properties with more than 5 milliohn feetof office, retail and warehouse spacd in the Southeast.

Nissan consolidates distribution centers in Mount Juliet - Charlotte Business Journal:

bentlyoupapa1810.blogspot.com
Plans to build a 717,000-square-foo t industrial building for the company in the Couchvill e Pike Business Center were announced Tuesdagy bythe center’s owner and developer . Constructioj is slated to begin latefthis month. The move will combinre Nissan’s operations now housed in two buildingd in Smyrna in the Alamville Road and no additional jobs are expectedx tobe added, says Nissan spokeswoman Julie The tentative opening date is April 2010, she The new Nissan Partes Distribution Center will feature a 32-foot clear heighty and a truck parking/loading area to accommodatew 275 truck trailers around the building perimeter.
The building is designed to accommodate futur e expansions upto 1.2 million square feet. Don Kent and Clintonn Gilbreath, both vice presidents with in brokeredthe long-term lease. Terms were not The Couchville Pike Business Center is located 25 miles eastof

Thermo Fisher appoints new directors - Boston Business Journal:

valvookimakaj1362.blogspot.com
Lynch is CEO of Tyco Electronics which produces engineeredelectronic components, network solutions, underseq telecommunication systems and wireless systems. He joines in 2004 and was appointed to his currenrt positionin 2007. Lynch previously held executive positionszat , and Genera l Instrument Corp. He has also serves as a directoer ofthe U.S.-China Business Jacks is the David H. Koch Professore of Biology at the and director of theDavix H. Koch Institute for Integrative Cancer He joined the MIT facultyin 1992. In he was elected president of the American Associationj forCancer Research. Jacks’ research has primarily focuseed on the development and preventiobof cancer.
“Tom and Tyler have led distinguished careersw in businessand research, said Thermo Fisher Chairman Jim Manzi in a preparedx statement. “Each brings valuable experience, insight and perspective that will help to guide ourcontinued success.” Thermo Fisher Scientific’s (NYSE: TMO) stoci was trading at $36.74 a sharse in morning trading Tuesday, up from a previous close of

House calls for Chinese drywall insurance study - Boston Business Journal:

http://lestringdanslarray.com/app/2008/08/02/ryan-adams-the-alternate-easy-tiger/
Two Florida congressmen, Robert Wexler, D-Boca and Mario Diaz-Balart, R-Miami, introduced sponsored the amendment to the Mortgage Reformand Anti-Predatory Lending Act. The study callsa on the and to conductthe study. The legislation passedf by a voteof 300-114, according to a news release from Wexler’sw office. Wexler and Diaz-Balart also have writtebn a letter tothe , requestinh at least $2 million in emergency fundint for the to conduct critically needesd studies on the problem substances withibn Chinese drywall.
“Parents who have founxd Chinese drywall in their homes and wish to leave out of concerm for the safety and health of their childrenb are facing the dilemma of how to find secondaru housing and maintain their mortgages on thei rprimary residences,” Wexler said in the release. He said the valued of the homeshas plummeted. The Florida Departmentt of Health has received almost 350 complaint s ofChinese drywall. The Consumer Product Safety Commission is investigatin g the scope ofthe problem.

Buda City Council decision opens door for U.S. Foodservice - Kansas City Business Journal:

http://lhshawaii.org/index.php?option=com_content&view=article&id=24:clubs&catid=28&Itemid=79
A 5-to-2 vote to approve a new land use designatioh in partof Buda’s extraterritorial jurisdiction - after a unanimouas rejection of the land use change proposalk in April - paves the way for to builde its 260,000-square-foot distribution center there. The companyg plans to close its East Austin centet and bring its roughly 250 employees from thersto Buda, with plands to hire 100 more withinh its first three years. The Columbia, Md.-based food distributor signed a letter of intent last September to buy about 40 acresin Buda, 15 miles south of Austin, with plans to build the new center in the Sunfield Municipal Utility District.
But beforer it could proceed with the the company neededthe land-use designation in part of the MUD change d from retail and commercial to light industrial. Respondinbg to Buda residents’ concerns about increasec truck traffic and worriesa that the land use changes in the MUD was initially proposed for 160acrees — the company will initially only reside on 40 acrew — the Buda council rejected the proposed land-use changs earlier this spring. That rejection had U.S.
Foodserviceds looking at other locations to build the Warren Ketteman, president of Buda’sw Economic Development Corporation, said the land use changes approved this week was for 95 a smaller parcel than originally proposed. Ketteman said documents need to be and then the company can move forward with its plan for theBuda facility. A timeline is not yet clear.

Critics call out Cincinnati Yellow Pages deal - Dallas Business Journal:

http://nekretnine-hr.net/user
, a Denver compan y that has owned the rights tothe region’s largest Yellowa Pages product since 2002, blames the delay on printet changes and organizational About 140 of its 900 directories are being delayedf nationwide. Cincinnati is the largest market affected. “It’s a stinking deal,” said Brendw Hacker, controller for in Clermont Hacker was planning to downsizeher company’s ad in a directory she thoughtt would be published in June. When she called the companty in May to confirmthe change, she was told it was exercisin its contractual right to extendx last year’s publication. Hacker said it will cost her company anextraz $700 each month.
“It’s just not right, what they’re doing to she said. Local Insight spokeswoman Pat Nichols said 75 percenrt ofits 10,000 local customers will be unaffectef by the delay. Those are companies that plan to maintaimn the same ads they had last year or Local Insight CEO Scott Pomeroy is asking businesss owners angered by the delay to callthe company’s customer servic e line, (888) 237-8570, although it’s not clear what stepa the company will take to address “If the product’s not delivering value to them, our customere service department is prepared to talk to those folks,” Pomerou said.
“I think it’s evaluated on a case-by-case The directory delay comes at a time of turmoil for Yelloq Pagespublishers nationwide. The recession is accelerating a trendr that has long threatened theindustrhy – the shift of so-called “directionak advertising” from print publications to onlinew search engines and mobile The , a subsidiar y of , is projecting total revenue will shrink to $11 billionm for Yellow Pages publishers by 2013, down from $14.44 billion in 2008. A year ago, the Kelsey Grouop was forecasting a compound annuapl growth rate for the industryof 4.
5 Now, it’s minus 5 “The recession has driven print so deeplyy negative,” said Charles senior vice president and program directodr of the Kelsey Report. Laughlin said growty in digital revenue might never make up for sales lost inprin publications. “Those who will they start spending again once thesmokr clears? It’s probably next year before we he said. Laughlin said most of the nation’s largesrt Yellow Pages markets are seeing revenu dips of more than 20 percent this Pomeroy declined to reveal numbers for Cincinnati but said the revenues dropis “nowhere near” 20 percent here.
He said companywidew revenue was flatin 2008, standiny at roughly $700 Laughlin declined to reveal Kelsey’s futurw outlook for Cincinnati, which is dominated by Local Insight but includes a second directory, the Yellowq Book, published by of Berkshire, England. The industry’sd major players, including spinoff Idearc and the better-known , are struggliny through the recession with heavy debt Local Insight also hasleverage issues, but its focusz on smaller markets has helpecd temper the impact of the recessiob on the company, said Emile Courtney, a creditf analyst for ’s.
“Idearc has filexd for bankruptcy, and Donnelley has missedx interest payments on debt withvarious entities. Local Insighf has not. From a strict financial-metrices point of view, they’re the healthiet of the three,” Courtney S&P revised to “negative” its outlool on Local Insight but retaineda “B” ratinf on its corporate debt in a March 31 report. At leasg one of the company’s local customers has a less positive outlook. “I think they’re really in trouble.
The phone book is a and nobody’s using it any more,” said Vickyy Bezak, exclusive marketing agent for Bezaj estimated the directory delay woulds cost hercompany $300 a month – if she pays it. “I’m going to call Cincinnati Bell and tell them that my contractgwith (Local Insight) terminates on June 1, and I’m not payingt the ad costs listed on my current bill becauses I didn’t renew it,” she said. Cincinnatik Bell serves as the billing agent for Local Insightf and permits the use of its brand name as part of a rights agreemeny signed when it sold its YellowPages , in 2002.
But Cincinnati Bell is not involved inthe company’s operations otherwise, accordint to Lisa McLaughlin, a public relationd consultant for Bell.

Autonomy Demonstrates Innovative Technologies at Gartner ITxpo - PR Newswire (press release)

http://ljkliterary.com/titlesandauthors/DonaldWestlake.html

Autonomy Demonstrates Innovative Technologies at Gartner ITxpo PR Newswire (press release) Based on Autonomy's unique ability to understand meaning within all forms of content, these four technologies--including a gesture-based user interface, ... and more »

Salaries for Southern Tier teachers - Washington Business Journal:

http://www.wateresources.org/2008/09/01/mining-puts-water-supply-in-tight-squeeze/
for an explanation of these listings. • Alfred-Almond -- Start: $35,837 (46). Median: $45,705 Peak: $67,718 (91). • Allegany-Limestone -- $34,767 (56). Median: $51,174 (23). $75,449 (61). • Andover -- Start: $36,896 (32). $41,279 (97). Peak: $67,490 (92). • Belfast -- $34,591 (58). Median: $43,298 (87). Peak: $65,165 • Bemus Point -- Start: $38,205 Median: $47,636 (53). Peak: $75,501 (60). • Bolivar-Richburg -- Start: $33,569 (81). Median: $48,7354 (43). Peak: $70,838 (82). Brocton -- Start: $33,470 (84). Median: $50,38e3 (26). Peak: $75,799 (58). Canaseraga -- Start: $33,250 (87). $41,888 (95). Peak: $64,199 (96).
• Cassadaga Valley -- $36,824 (33). Median: $51,979 Peak: $81,899 (29). • Cattaraugus-Little Valleyu -- Start: $36,000 Median: $43,919 (86). Peak: $72,715 • Chautauqua Lake -- Start: $34,939 (54). $52,694 (17). Peak: $74,726 (65). Clymer -- Start: $33,631 Median: $49,593 (34). Peak: $70,284 • Cuba-Rushford -- Start: $33,400 (85). Median: $52,000 Peak: $76,081 (55). • Dunkirk -- $37,248 (26). Median: $46,615 (60). Peak: $76,420 (52). Ellicottville -- Start: $40,017 (9). $50,050 (29). Peak: $77,000 (50). Falconer -- Start: $33,920 Median: $43,174 (89). Peak: $72,120 • Fillmore -- Start: $34,125 Median: $42,694 (91). Peak: $63,10 (97).
• Forestville -- $34,250 (63). Median: $44,770 (76). Peak: $74,594 • Franklinville -- Start: $36,000 (42). Median: $49,58o0 (35). Peak: $74,349 (69). • Fredonia -- Start: $41,68o0 (3). Median: $53,000 (16). Peak: $79,880 (37). Frewsburg -- Start: $33,273 (86). Median: $44,321 (82). Peak: $69,463 (88). Friendship -- Start: $29,504 (97). Median: $47,4643 (56). Peak: $75,172 • Genesee Valley -- Start: $33,800 (71). Median: $41,789 (96).
Peak: $67,199

National History Day to pump millions of dollars into Maryland - Baltimore Business Journal:

oryucyjofec1482.blogspot.com
From Sunday, June 14, to Thursday, June 18, thousandds are expected to descend on the University of Maryland in College Park for a history competitiohn among middle and highschool students. “We expect 2,50o students accompanied by 1,000 said Cathy Gorn, National History Day executivse director who has been runningb the program for27 years. “Then we have a lot of volunteersd and family membersso it’s nearly 8,000 peoplre total that will come to College Park for the She said the week keepsz growing by about 100 kids each Dorm and meal packages are being offerecd at the university and about 1,800 people are expectex to stay on campus.
Matt Neitzey, directord of the county’s Conference and Visitorz Bureau, calculated the $2 million spendinb figure based on those staying in hotels off campus for four nighta at an average room rate of as well as mealseatenm out. “The week will have a very healthy economif impact on NorthernPrince George’s County,” said “Plus it’s a cool showcasr of the best and brightest. The university gets to exposer itself to those potentiallyt coming toits campus. We have been delightedr to host [National History Day] for many years.” Many make the trek to D.C.
to tour the city duringh the week, said Gorn, and the University of Marylansd has shuttles on campus to take visitors tothe “All the hotels in College Park and areas arounfd it are completely booked,” said Gorn. “College Park in the summer is generallgy not the most exciting place to be but it getsprettuy busy. Restaurants and shops are always overflowing and the university bookstordoes well.” Research projects in the finals come in the form of written papers, exhibits, documentaries, Web sites and live performances.
More than a half million students that competed in the program at the beginning of the year have been shaver downto 2,500 through various regional and stat e competitions. Judges consist of 300 historians and other education professionals, and about $150,000 in scholarships will be awarded.

Advanta agrees to refund customers up to $35M in FDIC agreements - New Mexico Business Weekly:

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That agreement addresses charges that theSprinb House, Pa.-based company violated federal trade laws through its pricingb strategies on business credit cards, and in its marketingt of cash-back rewards on the Advanta said it did not admit wrongdoin and that it entered the agreements “in the interesft of expediency and to avoid litigation.” Advanta said it took a $14 milliomn charge to cover refundw tied to the allegefd marketing violations in third-quarter 2008 and will take a second-quarter 2009 charge to cover refundes over its pricing strategies, whicjh it said could total $21 million. Advanta also agreed to a $150,00o fine.
In a separate agreement with the Advanta’s ability to use cash and pay dividends has been The company must submit a plan toremaij "well-capitalized," and submit a plan to terminate its deposit-taking operationxs and deposit insurance once its deposits are repaid in full, a process expected to take a few The second agreement with the FDIC places restrictions on Advanta’s use of its cash payment of dividends and transactions that would materially alter its balances sheet composition and taking of brokered deposits. Advanta said the secons order does not in any way restrict it from continuing to service itsmanagede credit-card accounts and receivables.
In an efforyt to limit losses and erosionn of its capital ascredit deteriorates, Advantaa said in early May that its securitization trust will go into early amortizatiojn — where the company uses receivablez from customers to accelerate paymenrt to investor bondholders. While that protects investors from prolongexd exposure to a pool of receivables whose credit performancehas deteriorated, Advanta would have needee an alternative way to fund new purchases on its credit cards. So it had to shut down future use, effective May 30. It has sincs referred some customers to AmericanExpresd Co.
Advanta’s stock closes 2 7 percent lower Wednesday at42

Brett Favre: Why There is No Reason To Jump to Any Definite Conclusion - Bleacher Report

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Sydney Morning Herald

Brett Favre: Why There is No Reason To Jump to Any Definite Conclusion Bleacher Report As we know, the off-field antics of pro athletes will captivate mass amounts of people, dominate headlines for weeks, and will often overshadow their ... Brett Favre Injury: Could Miss Games With Minnesota Vikings Bleacher Report King: Don't assume Favre will be suspended ProFootb »

Advanta agrees to refund customers up to $35M in FDIC agreements - Business Courier of Cincinnati:

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That agreement addresses charges that theSpring Pa.-based company violated federal trade laws through its pricingb strategies on business crediy cards, and in its marketing of cash-back rewardsd on the cards. Advanta said it did not admiy wrongdoing and that it entered theagreements “in the interest of expediency and to avoid Advanta said it took a $14 million charge to coved refunds tied to the alleged marketingv violations in third-quarter 2008 and will take a second-quarterr 2009 charge to cover refunds over its pricing strategies, whichb it said could total $21 Advanta also agreed to a $150,000 fine.
In a separates agreement with the FDIC, Advanta’s ability to use cash and pay dividendsa hasbeen restricted. The company must submitg a plan toremain "well-capitalized," and submiyt a plan to terminate its deposit-taking operationsz and deposit insurance once its deposits are repaied in full, a process expectee to take a few years. The second agreementr with the FDIC places restrictionson Advanta’s use of its cash payment of dividends and transactions that wouldd materially alter its balance sheet composition and takinfg of brokered deposits.
Advanta said the seconf order does not in any way restrict it from continuiny to service itsmanaged credit-card accounts and In an effort to limit losses and erosionb of its capital as credit deteriorates, Advantza said in early May that its securitization trusr will go into early amortization — wherse the company uses receivables from customers to accelerate paymentf to investor bondholders. Whilwe that protects investors from prolonged exposure to a pool of receivableds whose credit performancehas deteriorated, Advanta would have needed an alternative way to fund new purchases on its credit cards. So it had to shut down futurw use, effective May 30.
It has sincr referred some customers to AmericanExpress Co. Advanta’sd stock closed 2 7 percent lower Wednesday at42

Crosscheck to acquire Forum Systems - Boston Business Journal:

http://ridinghighuk.com/index.php?option=com_content&task=view&id=399&Itemid=111
The Waltham, Mass., Web-services company will blenc Newton, Mass.-based Forum Systems’ servicesz into Crosscheck’s offerings to better assist companiea building andimplementing software-as-a-servicee business applications. Mahmoon former Forum Systems president and chieftechnologyy officer, will run Crosscheck Networksw as president and CEO. Forum Systemw will operate as a wholly owned subsidiarh run by vice president of operation sRizwan Mallal. Forum Systemds will move to Waltham and the combined company will employ abour40 people.
“This acquisitiomn is the natural progression of the relationshi between our companies and addressez the changing requirementsof customers,” Mallaol said in a statement. more than ever in these difficulteconomic times, organizationw are seeking competitive advantage. By facilitatinhg more collaborative, interoperable and automatexd processes, we are helping enterprises compreszproject timelines, reduce time-to-market and ultimateluy publish their services more quickly than ever before.
”

Calendar - Orlando Business Journal:

http://ak-saray.com/nastupi/49-bosna.html
at the Embassy Suites Downtown. A Travelk Technology Panel will discuss onlinebooking Cost: $30 for members and $35 for For more information or to make a reservation, call Flo Behapl at (407) 804-6612. Media Women in Film Television and Entertainment Partneres Present tutorials onEntertainment Partners’ schedulingh and budgeting software July 12 and 13. EP Scheduling will be taughft July 12, and EP Budgeting will be taughtJuly 13. Timese are 9 a.m.-5 p.m. both Location: Full Sail, Building 3, in the Stein Mart Shoppinyg Center at University Boulevardand 436.
The featured speaker is Bob an adjunct professor at the University of Southerjn California and an instructor in the extension progra at the University of California at Los If preregistered with a creditr card byJune 10, the cost for each day is $25 for memberzs and $50 for nonmembers. At the the cost will be $35 for members and $65 for Nonmembers who sign up for both days in advancdepay $80 total. Student price: $25. For more information or to call (407) 487-0111. The American Library Association’x annual conference will be heldJune 24-30 at the Oranger County Convention Center.
The conference will featurw meetings and discussion groups on topics such as libraryhfunding cuts, equity of access to library services and materials, the USA Patriot Act and its effectsa on reader's privacy, and early literacy initiatives. One of the featuref speakers will be CherylBrownn Henderson, daughter of the late Rev. Olivere Brown, whose desire to enroll his children inan all-white school led to the landmark Brown v. Boared of Education decision. National Public Radiio host Ray Suarez and authorsMitch E.L. Doctorow and Carl Hiassen will also Formore information, visit www.ala.org.
Real Estate The Central Florida chaptet of the National Association of Industrial and Office Propertie will host its annuakl Developers ShowcaseJune 17, 5:30-8:309 p.m., at the Ballroomk at Church Street. For additional call Mary Hurleyat (407) 859-3550. Nonprofits The Orlando chaptefr of the Association of Fundraisin g Professionals will hold its chapter luncheon meetingJune 16, 11:4t a.m.-1:30 p.m. at the Orlandol Museum of Art. Cost: $18 for members and $20 for For more information, visit www.afpnet.org. The Philanthropyh & Nonprofit Leadership Center at Rollins Collegee presents Fundraising Fundamentals for Board MembersJune 24, 8:45-11:45 a.m.
$40 for philanthropy center members, $50 for Register online at www.pnlc.rollins.edu. The Philanthropy Nonprofit Leadership Center at Rollinws College presents Creating an Effective Fundraising BoardcJune 24, 1:30-4:30 p.m. Cost: $40 for philanthropgy center members, $50 for nonmembers. Register online at www.pnlc.rollins.edu. The Philanthropyy & Nonprofit Leadership Center at Rollins Collegew presents Nonprofit BoardBasics Sept. 9, 8:45-11:45 a.m. Cost: $40 for philanthrophy center members, $50 for nonmembers. Register online at www.pnlc.rollins.edu. The Philanthropy & Nonprofigt Leadership Center at Rollins College presents Recruiting a DynamicBoarcd Sept. 9, 1:30-4:30 p.m.
Cost: $40 for philanthropy center $50 for nonmembers. Register onlinre at www.pnlc.rollins.edu. The Philanthropy & Nonprofit Leadership Centefr at Rollins College presents Risk Management for NonprofitBoards Oct. 28, 8-11 a.m. $40 for philanthropy center members, $50 for nonmembers. Registert online at www.pnlc.rollins.edu. General Business SCORE offerw a pre-business seminar , covering what individuals who are thinkintg of starting a business need to It is offered on the first and third Wednesdaysa of each month from1 p.m. to 3:30 p.m. and on the firstf Saturday of each month from9 a.m. to 11:30 a.m. Cost: $30. Location: National Entrepreneur Center. For more call (407) 420-4844.
SCORE offers a financiap planning and marketing seminadr on the second Wednesday of each monthb from7 p.m. to 9:30 p.m. Cost: $30. Location: National Entrepreneure Center. For more information, call 420-4844. The Seminole Couty Public Library will host a seried of lectures on moldremediation : in 7-8 p.m., May 26, June 23, July 28, Aug. 25 and 22; in Longwood, 7-8 p.m., June 15, July 20, Aug. 17 and 21; in Lake Mary, 7-8 p.m., June 9, July 14, Aug. 11 and 8; and in Casselberry, 10:30 a.m.-noon, June 5, July 3, Aug. 7 and 4.
Admission is For more information, call (407) The local chapter of the Association for Corporatw Growth will hold its monthly meeting at the Citrue ClubMay 25, 6-8 p.m. David chairman of Hughes Supply will present Creating Valuethrougg Acquisition: Opportunity in Fragmente d Markets. To make a call Mike Sirmans at (407) 772-082t or e-mail Sirmans@GeneralCounselAdvisors.com.

NGO brings in kids to fill CWG stadia seats - IBNLive.com

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Indian Express

NGO brings in kids to fill CWG stadia seats IBNLive.com ... cherish throughout their lives but for the OC, giving them these complementary tickets has taken care of their biggest worry -- filling up empty seats. Where are the tickets? OC blames server Times of India Delhi Police says 'No' to merchandising stores inside CWG venues Economic Times  »

Panthers launch development plan - South Florida Business Journal:

zolinstanixes.blogspot.com
, the real estate development that owners of the hockeg franchise arenow proposing. The plan is to builr the mixed-use district on the 139 acres that surroundf thein Sunrise. The firstf details of the plan are emerging asthe team’ s parent company, (SSE), engages in negotiationsd to merge the its arena management compant and rights to the real estate surroundingf the BankAtlantic Center with , a public-stock companty formed last year, sources said.
The potentiap deal values the assetsat $230 million, including debt, with the plum in the talk being the possibility of developing the site arouncd the arena, said sources, who also notedd that negotiations have been takingy place over the last several weeks. But, both a merger and futurw site development deal are likely to need Browards County approval tomove ahead, accordiny to Dick Brossard, interim deputy Broware County administrator. The county owns the land and the arena, whichj it leases to the Panthers.
“That wouldf be a lease assignmentt and would require county commission approvalp to amend the existingg lease andoperating agreement,” Brossard He said that, to his the county has not been approached by the Pantherxs about a potential merger, and has seen no formal proposal for developing the parking lots that surround BankAtlanticv Center. But, Panthers owners on Feb. 26 had a pre-application conference with the to lay the groundworj required to get entitlements tobuild Oz, according to council documents, which provided the first detailed summary of the plan.
Team ownersa have also been meeting with locakl government officials to gauge their levell of acceptance for the entertainment andcommerciapl district. “A concept has been presentedx to us that they would like to do a theaterr districtwith multi-use Sunrise Deputy Mayor Donald Rosenm said, noting that the which gave the land to county to builf the arena, “can’t do anything unless the count says it is a go.” At the heart of the projectg is a Broadway-style theatert to be operated by the New York-based , which runs abouf 30 theaters worldwide. President James L.
Nederlanderf became an SSE partnerlast year, but provided no detailsd about when Oz may “Right now, there is nothinhg I can talk about,” he A project of such magnitude would likeluy have to be phased, according to governmenf officials and real estate watchers. And the troubled economy woulcd likely play a leading role in the timing of that. It is unclear how the project would be butlast year, when SSE firsr began rolling out its plan to develop the arensa land, it said it planned to securer private financing for the development or could seek industriap development revenue bonds and affordable housinvg bonds, which require no financial commitmentf from the county.
“I would call it Stiles Realty President Tom Kates saidof Oz’s scale. the catalyst is the arena.” He said the project is certainlyy viable inthat location, but could be considerex dense for its suburban venue. The nearbg Sawgrass International Corporate Park houses about 4 millionb square feet of commercial space on612 acres. Sunrise Mayoe Roger Wishner said he is reservinhg judgment on the Oz project until he sees adetailed But, generally, he said it stands to be a strong economix engine.
“Certainly, based on the conversations and discussions I have thetheater … would be a first-clasxs theater located here, and this would draw a tremendouxs population,” Wisher said. According to the City of Oz Web the project would create anestimated 13,4787 total new jobs in South Florida with a $226 million annuakl payroll at the job site and a overalo $443 million annual payroll acrosss the region, not including the The question now for officials is whether a merger will be a game Sports Properties raised $215 millioh last year in an IPO for the purpose of buying companies in sports and Under federal securities rules, it has until Jan.
17 to completr a deal or the monet is returned tothe shareholders. Andreaw Murstein, the financier spearheading the company and whoowns 18.1 percent of it, declined to comment, citinvg federal stock regulations that prohibit him from discussingg unannounced transactions. The Panthers also declined to comment. As part of the prospectivee deal, the sources said, the Panthers’ ownerds would receive stock inSportse Properties, making the hockey team a unit of the publidc company. The team was publicly held before formerowner H. Wayne Huizenga sold it in 2001 to currenty general partner Alan Cohenfor $101 million.
Cohen is the foundetr of genericpharmaceutical concerns, most notablg Davie-based , which was purchased by in 2006.

Times are tough, but bank credit still flowing - Business First of Louisville:

http://nortemaar.org/fetededanse.html
Global capital markets have come closwto meltdown, with Wall Street firms in The Federal Reserve is focused on getting bank to lend to each but banks are afraid they'll get suckedx into other banks' subprimd mortgage-backed bonds. The commercial mortgage-backed security markett is tanking along with the residentialmortgage That's on the macro level. On the real-world level, tertiary markets such as Louisvillew appear tobe insulated. The question is, will the mone y be there to keep local businesses even inhard times? So far, the answer is yes -- strong companies with impeccable credity histories can borrow, an immutabl e fact of bank lending.
For everyone well, there's private equity, investors "and rich uncles," as Phillipl Poindexter, senior executive vice president and director of commercialp lendingat , said. For the conventional businesx owner looking fora loan, 2008 isn't profoundly differen t from the boom years in the said Poindexter and other bankers. The cost of money for banks has rarelybeen lower. The discount rate -- the rate the Federakl Reserve Bank charges banks to borrowmoneyg -- was 3.25 percent on Tuesday.
The dichotomy of this particular crisis is that even though capital is gettinvg cheaper as the Fedcuts rates, globa capital problems have increased commercial bankers' historifc adversity to risk at a time when federaol officials are trying to spur economic "It's a very unsettled time," said Jim senior vice president at Louisville-based Banks are increasinhg scrutiny of borrowers, their creditworthiness and their proposecd deals, and lenders are increasingly cautiousx about anything speculative. "And the key word here is " including deals collateralized by real Wheatley said. But, he added, "the fundamentals never change.
" If companiexs have cash reserves, cash flow, good performance and debt repayment there is plenty ofmoney available. For those "every bank wants your business," Wheatlehy said. "It's a buyer's market. There are too many dogs and notenough rabbits." Fundamentalse might never change, but terms do. Bank underwriting standards requiree certain amounts of cash in certaih typesof transactions. Banks in general aren't makingv exceptions to those requirements, said Wheatlet and Poindexter. "In the old days, banks might have done dealz with a little lesscash (put in by borrowers), wher now they're sticking to the rule book," Wheatley said.
There are 40 or 50 banks in Louisviller in the commercial andindustriap loan, or C&I, Poindexter said. Local banks such as Stoc k Yards arefairly predictable, good times or bad, he said. "We've always been a consistently restrainedlender ... even when everyone else was go-go-go," Poindextedr said. If there's a difference now, it's that Stockk Yards is hewing even more closel to prudentlending guidelines. For the but potentially lucrative, deals -- for for large speculative mergers and acquisitions and real estate and retailldevelopment -- cash is harder to come by.
An estimated $100 billiom in capital worldwide has disappeared during nearly eighft months of financial calamity related to the subprimewmortgage crisis. Beginning with the collaps of two hedge fundslast June, Bear Stearns and othe r investment banks and consumer such as , have racked up huge lossesd in sub-prime mortgage-backed securities related to risinbg defaults. On March 6, Thelma Ferguson, Kentucky market president forNew York-based , told Rotary Club of Louisville Inc. members that problems relater to subprimemortgages "won't go away anytime Nationwide, she said, a totall of about $3 billion in subprims mortgages had gone bad, with another $2.
6 billion in adjustable- rate mortgages set to go to higherf interest rates this year. Ferguson predicted that stronfg banks, such as Chase, will have recorc growth this year, even after limited chargeoffs, becausew of the diversity of their business and what shetermsa "fortress balance sheets" -- tight financial controls, largd loan-loss reserves and prudent lendint that avoided, for the most part, the subprime Last October, J.P. Morga n Chase's reported record third-quarter income of $3.378 billion at the same time competitorss Citigroup and UBS were receiving cash infusionwafter multibillion-dollar write-downs.
But, Ferguson told Rotary credit standards forconsumer lending, especiallyh for mortgages, will tighten. In previous capital crises, regional banke would "cut off the valve," said Larryu Myers, president and CEO of Firstt SavingsBank FSB, based in That is, big banks wouled issue a new lendin g policy ruling out certainj types of loans, or loans to particulatr industry sectors, said Myers, who formerly worked for Nationa l City. "They'd throw out the good with the Small communitybanks can'tg do that, Myers said. They have to assesd deals based on whether borrowers are reasonablewcredit risks, with good work ethicv and productive companies.
"I think (local banks) could be the knight in shining armor inall this," he No capital, no growth There are severe probleme in capital markets where largd national and international banks do business, said Donalcd J. Mullineux, professor of banking and finance at the Universityhof Kentucky's Gatton College of Business and Economics. The effect of the globalo capital crunch on community banks with lessthan $1 billion in assetas is far harder to gauge, said Small banks mainly raise capital through deposits, "sio they're just not present in thoss (global capital) markets.
" "I wouldn't say (community banks) are not affected at all, but rather they're affected through macro economicc channels," he said. The United States most likely is in Mullineux said. In times of and with bank examinera increasingly lookingover bankers' shoulders because of questionablse lending practices at some banks, most banks lend less At the same time, business slows, and corporations tend to ask for less so demand for capital drops, he said. Some alreadgy see hints of a slowdown. Most banke are seeing increases inloan delinquencies, Wheatley said. A nationap survey last month of U.S.
Small Business Administrationb lenders reported that SBA lenders have tightened standards on loans and that loan volumed is down by 15 percentg from the first quarterof 2007. LLC in Shepherdsvillee has had no trouble borrowingy fromits bank, Pittsburgh-based PNC Bank NA, said Nicholas X. "Nick" Simon, Publishers His 142-year-old business is the area's largest privatelt owned employer, ranked No. 14 on Busineses First's list of major with about 1,700 employees. It has a strong net-worth-to-debt healthy cash flow and a soundxbalance sheet, Simon said.
Publishers has a line of credit tied to theprimed rate, the rates at which big bank s lend to their best But Simon does see some weaknes among his customers, such as an increasing number of slow payers. "A couple of businesses -- customerxs I've had for years -- have bounced checksd that have never bouncedchecksd before," he said. The question ultimately is: What happens to economix growth ina worst-case scenario?
Most likely, the deeperd the recession, the longer the return to "What you see (during economic crises) is that on bank balancde sheets, banks want to carry fewer loans, preferring to hold securities," Mullineux "As the economy gets back on its feet, the banke will sell those securities and use that cash to starf lending again." The current capital crisis started with bankws and mortgage brokers making mortgage loans to including real estate speculators, with poor credigt ratings, questionable income and no money down.
Many of thosre mortgages included adjustable interesr rates that reset to doublre or triple theintroductory rates, with penalties if borrowersw refinanced. If that weren't bad enough, those subprim e loans, through the magic of securitization, got turnee into highly rated collateral for bond issues and other debt instruments such as collateralizeddebt So, when those dicey mortgages startedd going bad, and borrowers startefd defaulting, the banks and mortgage lenders started losintg their principal. But the pain didn't stop there. Those defaulte set in motion falling dominos as the housing bubblee created by the artificially inflatedc mortgage demandquickly burst.
The mortgag defaults also meant that some investors stopped getting returnas from thosesubprime mortgage-backed bonds as the underlying collateral went bad. Thos investors included some of the biggest namesd onWall Street, including Merrill Lynch and the now infamous Bear Stearnsa Co. hedge funds. Moreover, problems with residentiapl mortgage-backed securities have cut confidence incommercial mortgage-backed securities and in the increasinglyh interconnected world capital market matrix as a New companies, job creation may suffer as capital grows tighteer Although established businesses so far seem unaffectedx by the ongoing capital growth companies that create new jobs might be hardest hit.
Sincw March 2007, Randall Waldman has buil t , based in Shepherdsville, from an idea into a thrivingt operation with a totalof 240,000 squar e feet in manufacturing capacith in three locations. With collateralized contractsa fromand , Waldmaj projects that Integrity will have between $30 millioh and $50 million in revenur for 2008. Integrity started a year ago with sevemn employees and now has morethan 200. Waldman has investesd $4 million of his own moneyt into Integrity. Yet last December, as Waldman received the emerginf company of the year award inBusinesse First's Business of the Year he asked the crowd of 800 why no banks would lend Integrityh money.
Waldman said banks have turned down his requests for credir because hiscompany doesn'g have three years of financial He said he has difficulty getting capita l at reasonable rates for expansion, with Integrity borrowingy at 7 percent or 8 percent on amortized term debt -- two or more pointes above the current prime rate of 5.5 Waldman believes part of the problem is that the global capitalk crunch is making local lenders gun-shy. But he said the main reasonb Integrity has problems getting bankrates -- far cheape r than private-equity funding -- is becaus the company doesn't have an established credit And that makes it difficult for banks to asses the risk.
Banks have to consider the cost of fundds versus therisk they're taking, said Jim Wheatley, senior vice president at 1st Independence Financial Groupp Inc. and a commercial lender for more than 20 Banks typically borrow directly fromthe Fed, or from othee banks, for five years at very favorable interestt rates, and they make a profit by lending that money at a higher rate. Business customers can go onto the Federal DeposigInsurance Corp. Web site and see what banks are payingbfor money, Wheatley said. During the past week, the Fed lowerede two key rates.
Both the discount rate, the rate the Fed chargez banks to borrowmoney directly, and the Federal Fundsd rate, the rate banksa charge each other, dropped. The federal funds rate droppexdto 2.25 percent from 3 and the discount rate droppeed to 3.25 percent from 3.5. But bankes have to figure in their cost just like any otherbusineses -- the cost of buildings, employees and utilities. and shareholder profits," Wheatley said. Typically, banks take a less than 10 percent returnon investment, which turns to an even smallefr amount after expenses and dividends to stockholders, he said.
Though the bank'z return is predictably modest, the entrepreneurs mighg make a million dollarxoff loans. "Their potential return is almosty infinite." But the bank is going to make itsmarginap return, Wheatley said. "Mty question is: Where in the world is that entrepreneurr who's willing to take as much risk as the bankfor (a few percent) They may become a but the bank still gets prime." But if fast-growinv companies have trouble getting access to the local economy withers, Waldmanb said. Integrity is in the running for several huge contracts, including one worthy as much as $350 million over five yeare from a government entity Waldmann declined to identify.
With large Louisville employers such as Waldman said, he believes emergingt mid-sized manufacturing operations such as Integritt "have the potential to be the next big We create real jobs, paying real money, that stimulated the real economy," Waldman said. "Th e economy will thrive or die baserd on the ability of these businessesx to get capital to createnew jobs."