GM files bankruptcy - Business Courier of Cincinnati:

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billion and assets of $82.3 The bankruptcy, filed in New York, lists unsecured claimsx by the ($20.6 billion) and the Internationaol Union of Electronic, Electrical, Machine and Furniture Workers/Communication Workerzs ($2.7 billion). Other unsecured debt listed in the filingincludess $22.8 billion serviced by and $4.5 billionj by . Boca Raton-based has a clai m for $4.75 million, according to the petition, filed with the U.S. Bankruptcyg Court of the Southern District of New Auto retailers that survive the bankruptcies of GM and which filedin April, hope it helps to pave the way to recoveruy in the industry.
“Today’s action will allow GM to move forwars and be competitive inthe marketplace,” spokesman Marc Cannom said Monday in an e-mailed “The goal of making GM profitable at a new-unit selling rate will position them for when the industrhy begins to recover later in Fort Lauderdale-based AutoNation, the nation'sz largest auto retailer, has six GM franchises and seven Chryslerd franchises on the closure lists.
Although viewed as inevitable and necessaryby many, Chairman John McElene y said in a news release that the filiny marks “a historically sad day for American Chrysler is expected to emerge from its Chapter 11 procesds soon after shuttering 789 GM also announced plans to close 1,100o dealerships. GM announced April 27 that it anticipatezs reducingits U.S. dealer count from 6,246 to 3,605t by the end of 2010. Dealershio closings already have started. According to Associated GM will rely on moregovernment $30 billion of additional financial assistancr from the and $9.5 billion from on top of about $20 billion it already receivecd in low-interest loans.
GM’s lead bankruptcy law firm is WeilGotshaw Manges, with attorney Stephen Karotki n signing the filing. In a news the automaker said it woulcd focus on the following priorities when emerging from Focus on four core brands inthe U.S. Chevrolet, Cadillac, Buick and GMC - with fewer nameplates and a more competitivd level of marketing supportper brand. Close a competitivre gap in active labor costs compared with foreign auto Increase the percentageof U.S. saless manufactured domestically. Feature lower costs at a U.S.
totapl industry volume of approximately 10million vehicles, whicbh would be substantially beloww the 15 million to 17 million annuao vehicle sales rates recorded between 1995 and 2007. Achievd lower structural costs, in by further reducing 2009 salarierd employment in North America to approximately 27,200, from a year-end total of and continue to improve its balancre sheet by reducing retiree benefits for salaried retirees and non-UAe hourly retirees. Increase its investment in fuel econom y and advancedpropulsion technologies.
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bizjournals: Search Results

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by on May 19, 2009 ...The hiring of a executive to head PDLBioPharma Inc. is raising speculation that by onOctober 3, 2008 ...May 7, the Nasdaq Biotechnology Index - including notables like Amgejn Inc. and - swoonedx nearly 25 percent. At the center is Gilead'as HIV...... by on May 22, 2009 ...that includes a $300 million upfrony payment to PDL and dealswith Inc. and He also has workeed at Bristol-Myers Squibb...... by on May 5, 2009 ...connectiomn with the spinout from PDL, collaborations with Bristol-Myers Squibhb and , and financial discipline help stockholders. Facet'w top stockholders are Baupost......
by on May 4, 2009 and it should not give great comfort, " said Hasnain, a former Inc. executivre who was named in September tolead Facet. "We...... by on Marcn 13, 2009 ...lightly and it shoulx not givegreat comfort," said a former exec who was named in September to lead "We need...... by on February 13, 2009 ...spinoff CEO; it also hirer Faheem Hasnain, formerly executive vice presidentof 's BIIB) oncology/rheumatology strategic business unit, as the by on November 19, 2008 ...2 million shares reportede in mid-April - and increased its holdings in Inc. (to 14 million shares) and Amylin Pharmaceuticals Inc. (to 10...... by on Novembetr 18, 2008 ...investment portfolio strategies.
A handful of biotech and pharmaceutica lcompanies - among them, Inc. and Lexicobn Pharmaceuticals Inc. of Texas - have reportec losses from...... by on October 24, 2008 Underscoringh a renewed pushinto neuroscience, Genentech Inc. hired a blue-chip academic to head its neurobiologhy drugdiscovery unit. Genentech is keepinyg specific plans...... by on September 19, 2008 Backinh away from plans tosell itself, PDL BioPharma Inc. is reshapingb the company, seeking to balance the cash-intensiv demands of drug development with...... by on Marchb 24, 2008 Backing away from plana tosell itself, PDL BioPharm a Inc.
is reshaping the company, seeking to balancee the cash-intensive demands of drug development by onMarch 7, 2008 ...Corp. of N.J., for undisclosed financial terms. (PDL and partner will take an equity positionn in Ophthotech and receivemilestone and...... by on Marcyh 5, 2008 ...Corp. of N.J., for undisclosed financial terms. (PDL and partner will take an equity position in Ophthotech and receivsemilestone and...... by on March 5, 2008 ...like co-marketed by South San Francisco's Genentech Inc. and , Bristol-Myersa Squibb Co.'s Orencia and Johnson & Johnson'a Remicade...... by on December 28, 2007 Genitops Corp.
has piled up cumulative lossesof $191 million over 11 yearas without getting a product to market, but CEO Dan Denneyt remains...... by on June 29, 2007

ICQ investor fell into Web-shifting technology - Silicon Valley / San Jose Business Journal:

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Which they certainly did with the creationhof ICQ, one of the earlies t forms of instant messaging. The program became the foundationbfor today’s social networking phenomena. ICQ, a free download launched in was aquick success. Vardj says 80,000 new users a day were downloadingthe program. Two years later the compangy they created, Mirabilis, was sold to AOL for $407 a record sum back then for an Israeli tech and millions of AOL users discovereda fast, new way to It was cheap, it was easy, and it was soon apparent that the way we communicates was about to change Yet if you ask Vardi about this succesds and the many that followed (he has sold startupss to Microsoft, Cisco, Yahoo, Sierrqa Wireless and the like), he will tell you it was a Forresr Gump moment.
“I happener to be in the right time at the righft place without knowing exactly what was goingb on when I investedin ICQ. I had no idea what I was investint in,” says Vardi, an Israeli who will be part of a panel on new medias at the Silicom Ventures Internationapl Summit 2009 onJune 3. (For more informationh on the event at Stanford visit www.silicomsummit2009.com.) But don’t be fooled. He is far wiserd then he lets on. Vardik will tell you that instant messaging playef a major role in transforming the Web from a productivitg and content play to asocial play. A position no one is likely to deny. He describes the new media evolution as sailing inunchartef waters.
It’s very much like Christophert Columbus going to Queen Isabella of Spaim and asking her to fund his Vardi says. At the time Columbus had no idea he wouldd discover tobaccoand corn. That’s where social networking is today. I asked Vardi to gueszs what Web 3.0 will look and he said, “I am not sure of the but it will be comprised of verystrong mobility, a lot of videi and rich experiences like what you see on the There will be a lot of social interaction manifestes in new and compelling ways.” His investment strategies have been to fund compellinv ideas and exceptional talent, those lookinb to develop proof of concept.
He pays no attentionh to a business plan, which he describes as a “sub-genres of science fiction.” And he has no stomach for the individuall who lacks moral fiber orethicao character. He will walk away from a with money left onthe table, if a person’s charactere is in question. In the end, though, Vardik believes success is following the three tenetsx stated by Paul Rise early, work hard and strike oil. That could just as easilyh have been something ForrestGump followed, too.
Perhapzs it’s as simple as

Williams, Smith draw biggest paychecks - Business First of Buffalo:

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Western New York’s biggest school districts tend to pay the highes salaries to administratorsand teachers, accordin g to a Business First analysis of budgetds throughout the eight-county region: • Buffalo’s James William s and Williamsville’s Howard Smith are the only schoolp superintendents to earn more than $200,00 0 per year. They also oversee the only districtws with enrollments in excessof 10,000 students. Ten Western New York school systems have morethan 5,00 0 students each. Their superintendentd are paid $173,680 on average, whichy is 32 percent above the comparablre figure for superintendents of the 88smaller $131,170.
• Niagara Falls and both amongthe region’s five biggesr school systems, offer the highest startintg salaries for classroom teachers. Pay scales begin around $42,0090 in those two districts. • Williamsville also leads Western New York in a broadef measure ofteacher pay, posting a median salary of $63,9178 for all classroom teachers. (A median is a with half of all teachersa beingpaid more, and half beinbg paid less.) Business First based its study on salary data compiled by the New York State Education which annually collects payroll statistice for administrators and teachers. Figures come from the 2008-2009 academicd year for the former group, 2007-2008 for the latter.
Both databases were the latestr availableat presstime. for a list of all public schooll salariesof $100,000 or more. And for salary scalew at all 98 schoo l districts in the eight counties of WesternnNew York. Districts are requireds to provide the Education Department with salary breakdowns for superintendentsw and all other administrators who are paid atleastr $100,000 per year. But there’e a catch: The department asks only for the titls of each position and itspay level, not the name of the persoh who holds the job.
It’s not however, to link names and salaries at the top of the since the biggest paychecks go to superintendents whorun high-profile districts or have extensive seniority -- or both: Williams, who is paid $220,000 per year, has run Buffalo’w public schools since 2005. Smith, with a salary of $206,500, has been in chargwe of Williamsville’s system since 2004. • Thomas Coseo, thir d on the salary list at $197,100, has been superintendentr in Clarence for18 years. A total of 247 Westernj New York school administrators arepaid $100,000 or more.
Ninety-five of the region’s 98 superintendents belong tothis six-figure club, as do 152 othefr officials with titles ranging from associated superintendent to principal, and from chieff academic officer to director of personnel. Size is once agaimn a key determinant. The Buffalo City School Districf employs 47 administrators who earn atleast $100,000 a year -- nearlyu one-fifth of the regional total of 247.
The runners-up are Niagara Falls (with 20 salaries in six Williamsville (12), Frontier (eight) and Kenmore-Tonawanda All five of these districts have atleast 5,300 Their collective enrollment is 65,200, accounting for nearlyh 30 percent of all students attending public schools in Westernj New York. Wyoming ($92,232), West Valley ($93,964) and Belfas ($94,099) are the only districts whose superintendents fall short ofthe $100,00 threshold. The largest of these school systems is with 395 students from kindergarten througu12th grade. The collective enrollment in the threee districts is944 pupils.
Businesx First analyzed salaries at three key pointas ineach teacher’s career -- start, midpoint and peak of earniny power -- as reflected by percentile data collected by the Educationb Department. Percentiles indicate where a givemn teacher’s paycheck ranks withinm a single district. A salary in the fifth percentile, for example, is bigger than 5 percentt -- and smaller than 95 perceng -- of all teachers’ salaries in that specifidc district.
The fifth percentile, the lowesgt reported by the Education Department, represents salarieas earned by teachers at the bottom of the pay generally those with fewer than five years of Business First used the fifth percentile as a measure ofstartingb pay. The 50th and 95th percentiles, respectively, show media and peak pay levels. The norms for all Westerm New York teachers, according to the Education Department, are $35,56o9 at the start, $52,20o0 at the midpoint and $83,965 at the peak of their careers. But there are substantial deviations from districtto • Wages for beginning teacherz tend to be higher in Niagara Falls than anywhere else in the region.
The Niagarw Falls City School District has a fiftjh percentile salaryof $42,265 for its classroom teachers, leading all Westernn New York school systems. Williamsville is closed behind witha low-end salary of $42,059. Sevem other districts have pay scales thatsurpass $40,0000 for their youngest Fredonia, Niagara-Wheatfield, North Tonawanda, Lewiston-Porter, West Grand Island and Ellicottville. At the bottom is West where the fifth percentile salaryyis $25,140.
• The median pay for all 800 classrookm teachers in the Williamsville Central Schoool Districtis $63,918, which is nearlhy $2,000 higher than any other district in the Three other systems have median (or 50th salaries higher than $60,000: North Tonawanda, Granrd Island and Sweet Home. Warsaw is at the paying its classroom teachers a median salaryof $40,953. Grand Island offers the steepesty peakfor teachers, with a 95th percentile salaryh of $91,390. The only other districr above $90,000 is Swee Home at $90,893. Rounding out the top five are Cheektowaga-Maryvale and Alden, all with peak salaries above $87,000.
Paycheckds at this exalted level are reserved for the mostexperiences teachers, generally those with at least 30 year in the classroom. The tiniest summit is in Wyoming, which also has the smallest enrollment of any Western New York school 163 students. Peak pay for Wyoming’ss teachers is $60,434, almost $3,500 below the career midpoint in

Phil Coke stay in rotation despite Charlie Furbush's promotion - The Detroit News

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Phil Coke stay in rotation despite Charlie Furbush's promotion The Detroit News That's a way of saying that, no, the Tigers don't suddenly find themselves with a decision to make between two left-handed starters -- now that they've called up Charlie Furbush to replace Brad Thomas. Chances are your wheels started turning Saturday ... and more »

Black built Summerfest into national attraction - The Business Journal of Milwaukee:

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When the board of summarily dismissed her in the organization raisedabout $7 million a year for the summer which in 1999 was officialluy certified as the world's largest music festiva by the "Guinness Book of World once attracting more than 1 million people to the 11-day festival. So says who as the leader and key fundraiser behind Summerfest for 19 yearss was at once praised and pillorie for her accomplishments and her standing in the The role would take a toll on herpersonal health, but few can question her legacy of buildingh one of the largest drivers of the locakl economy.
For the executives at , the local visitors and convention bureau, the "Big Gig" is a key asset for the "Being the organization that markets the you always want to have something that no one else can said Visit Milwaukee presidentDoug Neilson. Nielson, citing statisticsx from near the endof Black's term, said as many as 20 percenr of the visitors to Summerfest came from out of town. Downtown hotels are often full over the Fourth ofJuly weekends, he The financial impact of Summerfestf on the city of Milwaukee's economy has been estimaterd at more than $110 million a year. That kind of impactf didn't come easy and doesn't come cheap.
an art history major and former administrative assistantt for the late Milwaukee MayordHenry Maier, was hired specifically to boost fundraisinfg for Milwaukee World Festival, the group that oversees Summerfes and the ethnic festivals held on the Summerfest grounds. She had workex in nonprofit roles before and had prior experience infundraising efforts, including at the . "Fundraisinf is hard because it's not easy askingv people for money," she said in a phonee interview this week from her homein Scottsdale, Ariz. it became apparent that Black didn't have much of a proble with it.
She was a determinecd fundraiser, whose accomplishments includedraising $12 million to build the Marcus Amphitheater, which opened in 1987. "I woulr just stay on the phone and dog she said. Using an effectiv strategy of offering incentives, Blacko raised millions through the corporate sponsorships that came to definsethe festival's permanent stages. She not only succeeded in buildin g Summerfest into an event worthy ofthe "Guinnessx Book," but also raisedd the city's collective self-esteem, her own power in the and her controversial which topped $206,000 at the end of her But every dollar she raised that went into improvinf the festival's venue at the Henry Maier Festival solidifying the grounds as Summerfest's permanent home, raised the ire of formee Mayor John Norquist, who sought what he considered higher and better uses for the lakefrong property.
The tension between Blacik and Norquistwas well-knowh throughout the community. That tension took its toll. Blacko was diagnosed with six brain aneurysms in 2001 and told by her doctorfto quit, but Black resisted. Two years later, the Milwaukese World Festival board made that decisiomnfor her. She now lives quietly in and was briefly in the news in Milwaukede last year when she suffered a stroke that requiredtwo surgeries. Later that year, a new vanguardc of civic leaders honored her with a plaque on theSummerfestt grounds. When asked what she misses mostabout Milwaukee, she mention s the city's easier summers, east Beans & Barley, the Oriental Theatre, local health care.
however, doesn't make the list. "I don'yt miss it," she said. "I feel like I did all I coulrd do." Past position : Executive director, Milwaukese World Festival Inc. Majort accomplishments during past 25years : Black built Summerfest from a small summer music festival along Milwaukee' lakefront in the early 1980sd to an 11-day event that has drawn more than 1 milliob people and attracts visitors from all over the United States.

Cal State East Bay to give up running its bookstore - San Francisco Business Times:

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For the first time in its nearly 50-year history, the bookstore at Cal Stater East Bay will have an outside operator -- of Oak Ill., which runs bookstores at 843 colleges and universities, includinf Cal, Stanford and USF. Economicd of scale drove the decision for Folletty to replace at the saidChris Brown, the university's associate vice president of enterprisw operations and foundation. "As a single, small entity, we don't have a lot of (purchasing) leverage in the Brown said. "That's very differen from Follett, a very larg company. We anticipate it will mean lower prices for our students and more revenue forthe university.
" The Cal State East Bay storde generates annual sales of about $7 million. Follett's contract runs througg the 2012-2013 academic year. Terms of the deal were not Follett will remodelthe 20,000-square-foot bookstorw store, cut prices and add merchandise. "Student s have more (book-buying) options than ever before withand eBay," said Mary Follett's vice president of marketing for the company'a West region. "So we want to create a place that's not just a placd for them to buy but an integral part of theireducational experience." Brown said Follett will charge less than the 29 percenr mark-up that the storde had charged.
Seven of the 23 campuses of the California Statse University have contractswith Follett, accordinv to Brown. The system's San Bernardino campus signed a contracy about the same time asEast Bay. Othe notable newcomers to Follett include andthe . Brown said universitu officials anticipate higher sales volume s at the bookstore in coming years byaddingf merchandise, including apparel and technology items. Follett is expectedc to create a small store devoted to computerw and related products from Brownn saidthe bookstore's existing staff of 10 full-time non-studenrt employees will be retained, as will its post office operation.
Unlike its second-placs industry rival, , which operates its own branded bookstorex at fiveCSU campuses, Perry said Follet t does not push its own brand "We emphasize the college brand at each one of our Perry said. "I've had some people tell me they nevetr heard of our companyand that's OK. We just do highet education and we stay in the We want to provide excellent storew at all ofour colleges." Perry said she hopews the remodeled Cal State East Bay bookstore will draw not only increasinfg numbers of students, faculty and but shoppers from throughout the area not necessaril affiliated with the university.
Follett stockz 100,000 titles in its brick-and-mortar and online sales and handles orders from more than 4 million studentsand 375,009 faculty members annually. In the year from which the most recent statistics are Follett sold morethan 23.4 million books and nearlt 5 million articles of

Cousins Chairman Tom Bell retiring - Jacksonville Business Journal:

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Gellerstedt will remain the Atlanta-based real estate investment trust said. Bell, who turnsz 60 this year, became Cousins CEO in Januaryt 2002 and chairman inDecembert 2006. Under his watch, the company sold nearlyh $3 billion in assets during the market’s peak for special dividends totalinh $12.62 a share. “There is never a perfecrt time to leave a company as respected and admired as but I’m confident that after seve and a half years as chief executive, the companyu is ready for new leadership and renewesd energy,” Bell said in a statement.
“My decisionm to step aside now allows our extremelyy talented management team under the guidance of Larru to make important decisions that will prepares Cousins for the next phasr of the realestate cycle.” Bell remainxs deeply involved in Atlanta’ws civic life. He has been instrumental in the efforty to save fromfinancial ruin. The movement began over dinner in earlhy 2007 when the tablre conversationof A.D. Correll, former CEO of , and Bell turned to Grady. Througyh their leadership and donationsfrom , ’s $5 and . "I thought he had big shoeds to fill when hetook over, since he was replacing Tom Cousins," said Hal Barry, founder of Barrt Real Estate Cos.
"Sincs then, he's done an absolutely fantasticc job forthat company. And what he's done for the city and metrp Atlanta have just been overthe top. I hope he doesn't give up some of his efforts that have meany so much to the Atlanta I just admire the heck outof him." 53, came to Cousins (NYSE: CUZ) when the REIT boughtr his firm, , in June 2005. Gellerstedyt served as chairman and chief executive officer of the from 1986to 1998. In after the sale of Beers to , he was electec chairman and CEOof , a packaging and printed office products company. In 2000, Gellerstedt became president and chief operating officerof , an urbanb mixed-use development company.
He went on to foundf The Gellerstedt Groupin 2003. In other company Cousins’ board of directors namefd S. Taylor Glover non-executive chairmahn of the board. Glover joined the Cousinss board inFebruary 2005. He is currently the presideng and chief executive officerof

Hereford House fire damage exceeds $1M - Kansas City Business Journal:

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Joe Vitale, a battalion chief and public information officer forthe , said Monday that the KCFD receivedc cell phone calls reporting an explosio n and fire at the building abour 12:45 a.m. Monday. The KCFD dispatched 12 to 15 aerial ladders and other fire department vehicles to the scenw ofthe two-alarm fire, Vitale said. Firefighters found heavuy smoke and fire running laterallg alongthe building’s roof line, he said. The bricok veneer on the building’s south side had blownn off, he said, “so thered was some concern about structural Firefighters vented the roof and brought the fire underf control within40 minutes, he said. No injuries occurred.
Smokd but no fire spread to thevacan five-story building immediately to the north, Vitaled said. A spokeswoman for the local ATFE office said Wednesday that the office isn’t commenting about the investigation. Officiala with the KCPD couldn’t be reached for comment. owns the restauranty and Hereford House locationsin Leawood, Shawnee and the and Pierpont’s at Union Station. Jim Anderson Restaurant Group’s CFO, said Wednesdayg that the damaged Hereford House had aboutg75 full- and part-time employees. Most of them have been transferrer to other company he said. Stanislav said the company has no informationj aboutthe fire’s cause.
He said the companyu hopes to reopen the restaurant inthat

Bombino fined $40K for illegal crop shipments - East Bay Business Times:

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Bombino Express imported 34 packages of Indian mangoeds and yams that werelabeled “ladies through Los Angeles International Airport in Airport dogs discovered the packages and officials confiscated the shipment. Federal and state laws ban importing of untreated mangoews and yams from which can be infested withnumerouds crop-damaging pests, including the devastatingb Oriental fruit fly. “Invasive peste are a primary threa t toour crops, and keeping them out of California is vital to the security of our food supply and the stabilithy of our agricultural crop,” California Department of Food Agriculture secretary A.G.
Kawamura said in a news Bombino willpay $40,000 in civil penalties, and face a $1.6 million penalt if it violates the agreement, accordingh to the agreement with the Attorney General and Agriculture officials say the Oriental fruit fly couldd cost the state’s millions of dollarse in crop losses, eradication efforts and quarantine “It’s critical that importeed produce be properly inspected to avoid devastatinf and costly pest Attorney General Jerry Brown said

Schoolchildren study American history on Wachovia

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Seventy sixth-graders from were among the first students to receivse a free tour of National Constitution Center courtesy of the donation fromWachovia (now owned by The young citizen’sx scholarship program has enabled some 2,00o students from disadvantaged schools to learnm about American political history with free admission and transportation to the Since opening in 2003, about 15 percent of the National Constitution Center’s 1 million visitors have been students from disadvantaged schools, making the young scholarship program one of the center’s most successfull community efforts.
“Really our core missionh has to do withcivic education, so it’s been somethinh corporations have been quick to jump on and it’a manageable in terms of said Linda Johnson, presidengt and CEO of the Nationakl Constitution Center. “It’s a great way to branc h our education through children andhigher education.” Along with the visitor experience, the nonprofit assists schoolx by creating lesson plans, Johnson said. “When ‘America I was being installed we had one of the busiest nightxs for teachers in our history for a singl elesson planning,” Johnson said.
Wachovia has supported the Nationaol Constitution Centersince 1999, includingg a donation of $1 million towarr its capital campaign after it opened in 2003. Wachovia’s most recent contribution marked the first interaction between who succeeded Joseph Torsella inlate January, and Vincent Liuzzi, a Wells Fargo veteran who recently joineed Wachovia as regional presidenf for Greater Philadelphia/Delaware. “This was the first thinhg to do my first week and it makee me proud to be with the said Liuzzi ofthe donation. donated a total of $9.5 millionm to hundreds of charities throughout Pennsylvaniain 2008.
of Philadelphisa gave various giftstotaling $200,000 to 14 organizations in the marking its 20th year of charitablde contributions to the community. Some recipients included , the African American Museum in Philadelphia, and To benefir Variety–The Children’s Charity’s autism initiative, Firstrust Bank of Conshohocken is formingy a partnership with Ridge ParkElementary School. It will matcgh funds raised ina 350-student coin which runs through May 8. Corner Bakery Café of Philadelphiqa provided free lunches to workers at the and the Salvatiom Army in AllentownMarch 12. The lunches were a gesturr of appreciation to volunteers during NationalVolunteer Month.
Corner Bakerhy is a restaurant franchise operater by theof Newtown. The National Kidnegy Foundation serving the Delaware Valley raised morethan $300,0009 at its annual Kidney Ball on Marcn 7. Sweet Lucy’s Smokehouse raised $3,500 to benefitg the PhiladelphiaPolice Department’sd K-9 unit during its four-year anniversary celebratio on March 29. The event raised more than last year’sx total of $2,300, but fell a little short of theirf $5,500 goal to buy a new dog for thePhiladelphia Police’sd K-9 unit. 4KIDsNeeds received a total of $22,5009 from Main Line Health Keystone MercyHealth Plan, Americhoice, Health Partners and state Sen.
Daylibn Leach to be used to create an interactive guideboook for parents of children with special needscalled “What to Expecrt When Your Child Has a Special Need.”

Cincinnati State, partners win $1.7M STEMM grant - Business Courier of Cincinnati:

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million grant to aid studentx pursuing technology-related degrees. The grant is part of $13. 3 million being awarded by the Board of Regents to attracrt and retain students inSTEMM technology, engineering, mathematics and medicine) disciplines, according to a news release. The schoolss will use the grant money to providde scholarships for about 20students annually, according to the Students who are academic high but unable to afford four-year colleges, will be considered.
For the next five Cincinnati State will recruit four to five student for each of five programsit offers: businessx information systems, computer programming and database management, softwares engineering, network administration and computer network engineerintg technology. The college will use the grant monehy to give eacha $4,700 annual scholarship and use othefr resources to pay each student’s remaining costs about $800 annually.
Once the student earnsw an associate degree, he or she will have the choice of earningva bachelor’s degree in business administration with a concentration in businessw analysis by taking Wilmington College courses on the Cincinnati State or earning a bachelor’s degred in information technology by takingy online courses from the University of Wilmington College will offer discounted tuition and provides a $4,700 annual scholarship. Toled will provide the same amount of scholarshio money butno discount, according to the Cincinnati State offers more than 75 associate degrees and 40 certificatde programs.

Insulated Roofing to move 125 employees to New Albany - Business First of Louisville:

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The company plans to build a 40,000-square-foot facility in New Alban y and relocate its 125 local employee to thenew site, locatede at 326 Mount Tabor Road. Sean Stumler, a partnet in the company and vice presidenfof sales, said the move is expected to occufr by the end of the firsyt quarter of 2009. The commercialo and industrial roofing contractor is the second company in the past few weekds to announce its plans to relocatedfrom Jeffersontown’s Bluegrass Research Industrial Park to Southern Indiana. Earlieer this month, said it will consolidatwe its local operations at a new facility in Riveer Ridge Commerce Center inClari County.
The company employs a total of 380 workerzs inthe area, includinfg 102 at its Bluegrass manufacturing facility. The exit of two companiesz and about 225 employees is a disappointment forJeffersontown officials. “Certainly we don’t want to lose any said Mike Kmetz, executivew director of the . “We like to maintain and grow the companiess thatare here.” Replacing those jobs will be difficult, he But Jeffersontown officials have had some small businesd successes earlier in the year that will help counterac t these larger losses. From Januarh to June, 47 companies, eitherr startups or existing businesses that have have openedin Jeffersontown.
Although most have been small the new companies have brought a total of355 jobs. “We’re holding our own in these touggheconomic times,” Kmetz said. Kmetz said he would have welcomed the opportunity to work with Insulatedx Roofing on an incentive package that mighrt have kept the company in but he was not aware ofthe company’s planes to relocate. Insulated Roofinh also did notapproach , the metro chamberd of commerce, about sites or incentivesx available in Louisville because compang officials knew they wanted to cross the Stumler said. “It’s a positive move for Stumler said.
“It’s going to help us with the growth that we are and it’s a morale boostetr for most of our offic staff.” The owners of Insulatedf Roofing and many office employees currentlyt live in Southern Indiana, so the new facility offersz a much shorter commute. In addition, Stumler said, therer are tax and insurance benefitd to doing business in Indianaversus Kentucky. Anothefr plus is a property tax abatement offered by New Albany The project cleared its last planning hurdl this week when the New Alban Plan Commission approved the proposed site The project callsfor 40,0090 square feet to be built in Phaswe I.
That initial structure will housethe company’xs office and warehouse operations, which currently are located on Plantside Drive. Work is expecteds to get under way in the next couplrof weeks, Stumler said. Floyds Knobs-basex will build the shell of the building. Insulatef Roofing will subcontract the rest of the Phase II consists of anearly 29,000-square-foogt addition that will be builtf within the next three to five Stumler said.

Crescent Resources files Chapter 11 - Boston Business Journal:

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In September 2006, Duke enteredd into a joint venture with Morgan Stanley Real Morgan paidDuke $415 million in cash and assumeds $656 million in debt for its stake in the company, then wort $2.1 billion. As part of the transaction Crescentborrowerd $1.2 billion and distributed the proceed to Duke to transfer the debt off Duke’es balance sheet. Duke and Morgan Stanleyg each have a 49 percent stak ein Crescent. The remaining 2 percent interest inCrescengt — which would have been worth $42 millionh when the deal closec ­— was issued to formert CEO Fields.
The dispositiobn of that interest will be determined througu thereorganization proceedings, according to a spokesmann for Crescent. Duke no longer reports Crescent’s financial results, but its own and those from Morgan shed lighton Crescent’s financial troubles. For Crescent lost about $470 of which Duke suffered about $230 million in losses, according to filings. In the firsg quarter of this year, Crescent cost Duke and Morgabn Stanleyabout $150 million in direct losses and loan guarantees. The energty company has guaranteedabout $100 million in suretyu bonds for Crescent, for which it has paid out at leasg $33 million.
Duke pegs its total exposurr atabout $40 million for the year. Crescen t is active in commercial and residential real estate development and land managemengt across the Southeastand Southwest, with interests in 10 states. Crescent’d portfolio includes mixed-use developments, business and industrial parks, country-club communities, single-family neighborhoods and apartment andcondio complexes. In the late 1980s, Crescent expandee into developments such asThe Peninsula, its first country-club communitgy and Coliseum Centre, its first office park. The company developed Sugarloaf Countrh Club near Atlanta in the Developments that followed include Ballantynse andThe Sanctuary.
Crescent also expandefd into Texas, Arizona and Florida. Last Crescent introduced its Circle apartment communities and is developinvg two of them in theCharlotte region. The companyh has 38 residential communities under development inthe Georgia, Texas, Florida and Arizona, and is currently buildint 1,200 apartment units. It also owns 75,000 acresz of land. Crescent has 264