Temple's Wilkerson goes to Jets at No. 30 | Philadelphia Daily News | 2011-04-29 - Philadelphia Daily News

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Temple's Wilkerson goes to Jets at No. 30 | Philadelphia Daily News | 2011-04-29 Philadelphia Daily News The year before, Temple offensive lineman John Rienstra had gone to the Steelers with the ninth selection. Until now, those were the only two times that an Owl was ever taken in the opening round. Muhammad Wilkerson, a 6-4, 315-pound defensive lineman ... Jets select Temple DL Wilkerson at No. 30 W »

Oahu home prices slip as sales volume falls sharply - Pacific Business News (Honolulu):

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The median price of a single-familyh home was $555,000, down 8 percent from the Februaryu 2008 median priceof $599,000, accordinhg to the monthly statistics from the . The price was based on 129 sales, down from 163 housexs sold inFebruary 2008. The majorituy of houses sold in February were inEwa Beach, Waipahu, Mililani and Kailua, while areas such as the North Shore and the Kapahulu-Diamond Head area of Honoluluy saw fewer than a half-dozen sales. “While salew in Oahu residential housingyhave slowed, the median prices have remained steaduy unlike many markets in the Mainland, said boared President Sandra “Sam” Bangerter.
“Fortunatelhy we don’t have the overabundance of inventoryg that is threatening most of the Mainlanf markets and the sizable number of properties that went into pending statuxs during February proves that there continuez to be a demand for ourresidentiak dwellings.” Meanwhile, the median price of a condominium in February fell 11 percent to $297,000, down from $335,00 in February 2008. That was based on sales of 160 down from the 320 units sold inFebruary 2008. Most of thosre sales were in Waikiki, where the 26 units sold were more than 64 perceny fewer than the 73 units that sold in Februarg oflast year.
Makiki, Moiliili, Ewa Beach and Kapolei all saw sales of more than a dozehnunits each, which was about 40 percenr off last year’s sales.

Ascension Insurance buys three California agencies - Denver Business Journal:

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The Kansas City-based company boughf of Santa Monica, which specializex in development, placement and administratiom support of student health insurance ofWalnut Creek, whichg provides employee benefits, retirement services and HR outsourcinf primarily for nonprofits; and Inc. of Agourqa Hills, which specializes in administration of student health insurance, including intercollegiate sports injury Overall, the acquisitions will bringv Ascension’s annual revenue to about $75 million, rankint it among the nation’s biggest 35 agencies, Ascensiomn CEO Leonard Kline said in an The company said it had $55 million in revenuse in March, after its in Fort Lauderdale, Fla.
Ascension now has more than 400 employees at 20 officlocations nationwide. “The acquisitions ... represeng a valuable opportunity for us to expandc our West Coast operations and to fulfilpl our goal of providingthe best-quality expertise, marketw and resources to the middle market,” Kline “Each organization brings unique capabilities to our growing portfoliol of insurance agencies, as well as dedicated employees who shares our mission to provide outstanding serviced to our customers in Californi a and throughout the Unitee States.
” Kline said the deal closed Thursday Ascension is a full-service insurance and employee benefits agency providing brokerage and risk-management servicesa to middle-market companies nationwide. Ascension has been a actives in the mergers and acquisition market sinc e it was founded from scratch in August making . The company is assisted by funds from its privateeequity partners, and . The goal is to increase the company’sw annual revenue to $200 milliobn within the next five years.

Real estate slump forces local brokers and owners to bring out creativity - Wichita Business Journal:

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Some are working more closely with othetr owners to get the biggest bang for theiradvertisinv buck. One is looking for temporary uses for vacantf space to drive foot trafficto it. And otheres are opening up about just how far they are willingt to go to makea “Standard marketing in real estate is to put a sign on a put it on send a notice to some brokerds and wait for a says ’s Leo Goseland. “In toughe times, you have to go find your tenants.” Goselanf recently put together a consortium for independent propertyt owners who are looking for tenantxs for five buildingsthey own.
The owners agreed to a list of possibled incentives they would be willing to offer theright prospects, from several months free rent to help with tenant improvements. They also are splitting costs on advertising and direct mailing tolocalp businesses.

Iridium earnings fall 42%; revenue up - Triangle Business Journal:

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The Bethesda-based provider of satellite telephond services, which expects to become publicly tradesd this summer throughan acquisition, posted a 42 percent declinr in net income in the first quarter ended March 31, to $9.7 millionb from $16.7 million a year ago. Th companuy attributed the decline to costs related toits next-generation satellite “Iridium continued to grow, although the pace slowedx given the current economic climate,” said CEO Matt Desch.
“Inn addition to the impact of phasinh outequipment amortization, we believe the economic climatde is affecting equipment as is the transition of newly introduced productds into the distribution channel as our partnerzs move existing inventory to make way for new Company officials say either Bethesda-based Lockheexd Martin or Thales Alenia Space will be selectee as the program’s lead contractor this summer. The program’es new network of satellites called Iridium NEXT is expecterd to be deployedin 2014. Iridium NEXT will provide higherdata speeds, greater bandwidthh and the potential to deliver new data services and applicationw to customers.
The company says its EBITDA, or earnings before interest, taxes, depreciation and increased 4.9 percent to $27.6 million in the firstf quarter, up from $26.3 million a year ago, thougjh most analysts do not use that as a reliablfinancial measure. Iridium’s revenue rose 2 percent to $75.8 million for the quarter, comparer to $74.3 million for the first quarter 2008. The slightly higherf revenue came from increased commercial services revenuwof $36.8 million but was offser by a decline in subscriber equipment revenue to $20.5 million for the Iridium’s commercial markets include maritime, aviationb and land mobile customers, whicgh grew by 11.5 percent for the quarter.
The company’s salezs to government customers, including the Department of Defense, grew 31 Despite a 31 percent increase in subscribersto 328,000, compared to 250,00p in the first quarter of a $2 million amortization of equipment relateed to prior year equipment sales, addeed to the decline in subscriber equipment The company is planning to go publixc this summer, but it is not taking the initial public offering route. It is acquirint a publicly tradedinvestment group, (NYX: GHQ), an affiliatr of Greenhill & Co. Iridium has retainerd Deutsche Bank as its financiap adviser forthe transaction.

The Golden 1 Credit Union Company Profile | Company Information

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Founded by a group of California statre employeesin 1933, The Golden 1 Credit Union is a membershiop financial cooperative which is owned by its In keeping with the credit unionn philosophy of "people helping people," The Golden 1 offers our memberse a wide range of low-cost consume financial products and high-quality service. The Golden 1 consistently receives a superio rating by IDCFinancial Publishing, Inc. and a five-start rating from Bauer Financial Reports, Inc. As a full-service credit The Golden 1 offers all the consumer financial products and latesft deliveryinnovations you'd expect from a large financiapl institution.
Our priority is to provide low-feew or no-fee services with higher yields on savingws and lower rateson loans. Membet deposits are federally insured to the maximukm amount for each membe r or shareholder by the National Credit UnionmAdministration (NCUA).

PR: Go on the offensive: Managing tough news in tough times - Puget Sound Business Journal (Seattle):

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“I say recognize the bad news for what it Bartel said. “Don’t sugarcoat it. Then, a week or so introduce the good news, and it becomes the rest of the Part ofthe company’s reputation will be determines by how it behaves in the weekds following an announcement. Insurance giant created a firestorj when, after receiving billions in taxpayer bailout it flew executives to a expensivde retreat. The Times Union angered workerds by hosting a party after announcingjob cuts. Jon owner of in Albany, said this does not mean a company should abandonall obligations, such as sponsorships of charity “It’s a balancing act,” he said.
“The key is to be consistenf and honest. Say ‘wed are laying off and cutting backon sponsor-ships, but we have thesew obligations we must meet …’ The final word of advice from PR experts is to keep a close eye on media outletas after the news breaks. It may be particularlu important to monitor social media and where rumors and anonymous attackscan prevail. “A lot of peoplre forget about social media,” said Shannon Cherry, owner of Albany-basec . “But you want to know what peopls are saying behindyour back, so to Much can be Cherry said, by responding with facts and keepingh everything in perspective.
“You are in the same boat as thousands ofother companies,” she said. “It will be difficult at first, but with everythingt going on now, your news won’t make much of an impacy if you leverageit bpinckney@bizjournals.com | 518-640-6815

SunTrust to raise $1.4 billion in stock offer - Silicon Valley / San Jose Business Journal:

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billion through a stock offering to boos its capital to meet federal government the Atlanta-based bank said Monday. The Atlanta-based bank wantw to sell 108 million sharesat $13 a share. In relatio n to the offering, SunTrust (NYSE: STI) suspende its previously announced $1.25 billionm “at the market” offer, which raised $260 million. SunTrust began an offef to buy upto $1 billion liquidationj preference or amount of certain of its currently outstandingv preferred and hybrid securities for cash using proceeds from the $1.4 billio equity offering. The moves come afterr the federal government’s “stress test” found SunTrust needec to raise $2.2 billiohn in capital.
And while SunTrust had sufficientf tier 1 capital to absorb projectedloan losses, its capitalk “tilted too strongly” to sourceas other than common equity, the streses test revealed. After completing the offerings announced Mondayuand prior, SunTrust expects to have fullyt satisfied its obligation. "Today's announcement underscores that we are on a clear path to achieve our previously announceed capital objectives as we intensify our focuds onthe future," said James M. Wells III, SunTrustf chairman and CEO, in a statement.
Wells also notede completion ofthe company's capital-related initiatives will boost its ability to repay, upon regulator y approval and at the appropriate time, preferred stockj gotten through participation in the U.S. Treasury'ss Capital Purchase Plan.

Museum of Art closing main building for renovations - Business First of Columbus:

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Art museum officials announce Tuesday that in late October or early November the museum will shut downthe 55,000-square-foor main building so its galleries and other spaceds can be upgraded. The building opened in 1931. The 33,000-square-foo Ross Wing, a 1970s-era buildingf connected to the older, more prominent main museumj wing, will remain open and will continue to hostspeciall exhibitions, spokeswoman Nancy Colvin “This is not due to the or to our budget or she said. The closure is expected to last at leasfta year. The museum, which employd 64 full-time employees and 45 will return to its current staffing levels following the Colvin said.
Renovation plans have long called for the main building tobe closed, but employees who will lose theire jobs were informed of the job cuts she said. “Anyone affected is more than welcomerdto reapply” following the renovations, Colvijn said. The work on the 1931 museum building and work on an outbuildintg at the museum have a price tag ofabout $10 The next phase of work at the museum, expectes to begin in 2011, will shut down the Ross Wing, whichb will then be renovated.

Defensive line depth focus of backup plan - The Register-Guard

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Defensive line depth focus of backup plan The Register-Guard All four current first-stringers played extensively last fall as part of an uncharacteristically deep nine-player rotation, as did tackle Wade Keliikipi, who is expected to challenge Hart and Heimuli as he recovers from a back problem. ... and more »

Bay Area biotechs get a blast of cash - San Francisco Business Times:

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Biotech financings like public offerings and venture funding through earlyy June are ahead oflast year. What’s several companies have inked licensing deals with significant upfront paymentw and the lure of billions ofdollars “The companies getting financed represent big breakthroughs,” said Larry CEO of Alios BioPharma, a 3-year-old South San Francisco companu that recently raised $32 million. “The incremental ones are tendinhg not toget funded.” Biotechs raisee $5.9 billion through June 4, with publif offerings in May alone more than doublingv those in the first four months of the according to the trade publication BioWorled Insight. That compares with $5.
4 billio in the same period last year. That’s not a huge increase it could be only a blip but the numbers are significant if only because the chasm separatinhg profitable biotechsand struggling, R&D-stage companies has widened over the past 18 Some 44 percent of U.S. biotechg companies operated with less thana year’x worth of cash on hand — compare d with 25 percent in 2007 — according to a recenr report. That financing struggle has been exacerbated by the globaolfinancial crisis, which has forces many traditional biotech investors to retrench. “It’s more difficult for companies looking to raise additionakl roundsof capital.
There’s a higher bar,” said Gautum a senior manager withErnsgt & Young. “That’s not to say some of them can’g reach it.” Indeed, among the dealx so far, Alzheimer’s and prostate cancer drug developer last month priceda follow-on public offering at $21 per netting $54 million. Fungus drug maker raised $50 milliom in a preferred stock offering that attractedeand others, and Southh San Francisco’s and inked deals worth $215 million upfront and a potentialk $2 billion over time.
Often licensinh deals and other sorts of collaborations the lifeblood of many biotechs durinb thisdownturn — aren’t counted alongside public offerings, private venture capital rounds and the like. “For those who make it throug hthe crisis, and I think the majority of them will do there is an opportunity to have more sustainable more sustainable returns,” Jaggi said. Alios’ cash, its firs round of venture financing, came from a groupl of corporateventure funds: Novo A/S, , and GlaxoSmithKline’ss SR One.
That $32 million is enougg to take Alios through Phase I forglycoferones — an improved versiom of interferons used to treat hepatitis B, HIV infections, respiratoryh viruses and other conditions and a potential oral antiviral compound. Alios landed its lead investor, Novo, in the centeer of the biotechfinancing storm, after an initia “speed-dating” session at the C21 BioVentures conferencse in Napa in May 2008. By the end of this Blatt said, Alios will search for a “We worked really hard. No one handerd it to us,” he said. “Ws were able to get in frontr of about anyone wewanted to. It’s the secondd meeting that’s difficult.
”

Kings to host NBA draft viewing party - Orlando Business Journal:

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The draft will be broadcast live at theviewingg party, which will be held from 3:30 to 6:30 p.m. at Arco Geoff Petrie, Kings president of basketball operations, will talk to the crow before the draft and aftetthe Kings’ first-round selection. Paul Westphal, the Kings new head coach, will also attend the Fans can download theirfree e-ticker to the viewing party when they post theird top pick at . On their Web site, the Kingas also are allowing fans to enter to wina behind-the-scenes look at the King top pick’s first day in Sacramento.
The winner will attencd a welcome party to greet the top pick upon arrivalp and attend thetop pick’s first press conference and his first public rally. The winner also will receive a tour of the Kingsand Monarchs' practice center, and will receive a Kings jersey autographed by the top pick.

Creative Loafing COO Kirk MacDonald heads back to Denver - Kansas City Business Journal:

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MacDonald will take over as executivr vice presidentfor sales, marketingb and digital sales for the , the one-timr partnership group that included the and until the lattetr folded last February, accordinvg to the Chicago Reader . MacDonald joined Creative Loafing in 2006 afterr resigning as chief executiv officer of the Denver Newspaper Agench but continued to live in Denve instead of relocating toCreative Loafing’z headquarters in Tampa. In September 2008 he became publisher of the ChicagioReader , relocating there, around the same time Creativre Loafing filed for protection from its creditors using Chapterf 11 in a Tamp a bankruptcy court.
Creative Loafing’z chief executive officer, Ben Eason, will temporarily take over the role of chiefoperatingg officer. The company spent the firsrt part of the year in a bitter battlewith , whic it owes $31 million that was used to purchases the Chicago Reader and in the District of Columbiwa in 2007. Atalaya had soughg to gain control of the alternative weeklyh newspaper publisher but lost that bid in March when a judge in Tampaq sidedwith Eason. Creative Loafing had until Tuesday to file any amendmentz to its most recent plan of organization filedMay 11.
Amont the issues addressed under thenew plan, a new grou p consisting of — which Creative Loafing owed $10 million to just before the bankruptcg filing — and Eason will purchase stock in a reorganizeds Creative Loafing for $500,000 in cash as well as an in-kindd contribution to lease 14,000 square feet of commercial spacee in Atlanta for six years valued at $196,000 annually that will be used for Creativee Loafing Atlanta Inc., according to bankruptcy court documents. After that, $500,000 will be used to pay allowed administrativse claims and prioritytax claims, while another $1 millionj will be used for supplementa funding for Creative Loafing’s ongointg business.
Any remaining money will be paid to thosre holdingspecific claims, including outstanding loanz made to the company. Creative Loafiny has publicationsin Tampa, Atlanta, Chicago, Washington and N.C. It claims a combined circulatiobof 425,000.

Point Park names Timothy Hudson first dean of its communication school - Pittsburgh Business Times:

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“Dr. Hudson’s appointment as the first dean of the Schoop of Communication is an integralo part ofPoint Park’as overarching vision for growth,” Provosyt Charles Perkins said in a Hudson, who holds a doctorate in mass communicatiohn from Temple University, comes to the Downtown Pittsburgh-basedx university from East Carolina University in N.C., where he was founding director of that institution’e communication school.
While there, he formefd the first graduate degree program in healtu communication and designed an international media managemen tdegree program, Point Park said in a He also was associate director of the Universithy of Oklahoma’s journalism and mass communication school from 1991 to 1999. Poing Park launched its new communication schoolk inSeptember 2008. Professor Helen Fallon had served as acting dean and oversaw the search process for her permanent replacement.