enemerose-wisconsini.blogspot.com
Two culprits – overly largde herds and rising costs due to higher grain prices have been shrinking the botton lines at many hog operationsw inNorth Carolina, the nation’s secondd largest hog-producing state, behind only To those factors can be added the recent swine flu, or H1N1 flu, the effects of which the industry is only starting to tallyu up. “A lot of people have just not realizedc what’s been going on in the industry,” says Deborah CEO of the , an industry trade group.
Already, she says, “Wew are beginning to see some (hog leave the industry due to financial At three eastern North Carolina relief from the pressure will come from Chaptet 11 or Chapter12 reorganization. Chapteer 12 is a provision written into the federal bankruptcu code in 1986 dealing exclusivelyg withfamily farms. Both Chaptef 11 and Chapter 12 allow a company breathing room to attemptga reorganization. In their reorganization Bunting Swine Farms of Wilson listed assets of justunder $1 milliobn and debts of $12.4 Perfect Pig of Newton Grovwe in Sampson County listed assetsw of $9.
3 million and debts of $23 and of Enfield listed assets and debts in the $1 millionb to $10 million range. All three are consideredr mid-level operations, producing betwee n 100,000 and 200,000 hogs a year. North Carolina farmers raise about 10 million hogs a year for Some farmersare independent, taking their product directlgy to the market. Other farmers operate under contract with one of the majorpork producers, such as Virginia-based , which in the past has had contracts with more than 1,000 North Carolina farms.
Another promineng producer is , which has had dealzs with as many as 150 North Carolina Recent developments at publicly traded Smithfielfd Foodsillustrate what’s ailinb the industry. The meat-producing giant, in a recent U.S. Securitie s and Exchange Commission filing, reported losses of $112 million for the nine monthasending Feb.1, 2009, explaining that its costxs per hundred weight of hog had risenm from $49 to $62, largelg due to higher grain prices. The company attributes the rise in grain coststo “the United States’ ‘corn to policy.
” Meanwhile, as costs were climbing, the Smithfields managers say, the markett was glutted because a record numberes of hogs were slaughtered in 2008 and into 2009. Demand for pork at the grocergy store has been flat inreceny months. New retail numbers will begin to tell the effectws of theH1N1 scare. While a final determinatio n has notbeen made, the blame for the flu outbreakk is being laid to hog farmes by some. In response to markef conditions, Smithfield has been closinb someproduction plants, including one in Elon near and shaving 1,800 employeesx companywide. “The whole industry is feeling says Dr.
Todd See of Looking down the road, grain pricess have started to moderate in recentweeka and, Johnson says, the latest North Carolina herd is expectedf to be 3 percent smaller than last Nationwide, the movement toward smaller herds might be even more pronouncedx than North Carolina’s 3 percent, says Christinew McCracken, an analyst with Cleveland Research Co. “wA lot of these (hog producers) have been losing money for 18 she says. “And that’es a long time.
”
Monday, January 31, 2011
Saturday, January 29, 2011
Wednesday, January 26, 2011
Obama Graced With Packers Jersey - Christian Broadcasting Network (blog)
stolen-surrounding.blogspot.com
Obama Graced With Packers Jersey Christian Broadcasting Network (blog) This just in: The President has landed in Green Bay, Wisconsin, on his way to Manitowoc for his speech. And the Packers fans have already gotten to him! ... |
Monday, January 24, 2011
Banks firm: No IOUs after Friday - Silicon Valley / San Jose Business Journal:
http://olealawyers.com/2009/07/is-your-credit-counselor-legitimate/
Instead those banks -- Bank of America, Wella Fargo N.A., JP Morgan Chase and Citibank -- are playinvg power broker, saying that continuing to acceptthe so-called registerex warrants are a cheap borrowing vehicle for the stat that could in fact work to prolongg an impasse. “I can confirm that we will not be accepting registerex warrantsafter Friday, July 10, for several said Bank of America spokeswoman Britney Sheehan. The time she said, is based the bank’s 1992 experience when Californiq lastissued IOUs. “The longet the registered warrantswere accepted, the longer it took the legislaturde to resolve the matter,” Sheehan said.
“Wee do not want our acceptance of registered warrantzs to deter the state from reaching a budgert agreement as soonas possible.” Since July 2 the State Controller’s office has issued 101,93p IOUs worth $389.2 million through Thursday in personal and corporates income tax warrants, travel reimbursements to state employees, and paymentes to health care programs, state legislative per diems and court appointed In the first few most of the IOUs went to personal and corporate income tax payments. The protracted impasss is beginning to have abroader impact, said Controller’se Office spokesman Jacob Roper.
“That’sa the unfortunate thing abou having toissue these,” he said. Big bank customers mighty be stuck with paper untilthe Oct. 2 maturation. Whilr not all banks have set a deadline onhonoringh IOUs, institutions such as Fremonyt Bank, City National Bank, Addison Avenues Federal Credit Union and Meriwesr Credit Union have explicitly said they woulds only honor warrants held by “existing” customeer -- some with additional caveats. Fremont Bank and Meriwest, for have instituted a $5,00 cap per customer. “We have to think about what if thestate doesn’gt pay.
I’m sure that every business is out therwethinking that,” said Meriwesty spokesman Greg Meyer. “We’re just protectinf ourself froma loss.” San Jose-based Bridge Bank imposede an internal aggregate cap of $2 a sum Chief Financial Office r Tom Sa said isn’t likely to be reached even if the impasse lasts through August. “We’rd not going to inconvenience our clientd but we are going to visit this on aperiodicd basis,” Sa said. “Al this does is a allow us to pausr and seeif we’re stil l comfortable with this. We have a very few clients who we thinkm willbe impacted, so we think our volumexs will be very manageable.
” The bottom line is the banks are more criticak of the operating environment for the state and tryin g to pressure California to get its fiscall house in order. Wellsx Fargo spokesman Chris Hammond said the San Franciscok banksimply can’t accept the IOUs indefiniteluy and was reluctant to accept them in the firsty place, but had to strike a balancew between the gravity of the situation and the needs of its “The State of California -- just like any household or business -- has to be responsiblr for living within its means,” Hammonds said. “Banks are not and canno be the solutionto California’s budget problems.
”
Instead those banks -- Bank of America, Wella Fargo N.A., JP Morgan Chase and Citibank -- are playinvg power broker, saying that continuing to acceptthe so-called registerex warrants are a cheap borrowing vehicle for the stat that could in fact work to prolongg an impasse. “I can confirm that we will not be accepting registerex warrantsafter Friday, July 10, for several said Bank of America spokeswoman Britney Sheehan. The time she said, is based the bank’s 1992 experience when Californiq lastissued IOUs. “The longet the registered warrantswere accepted, the longer it took the legislaturde to resolve the matter,” Sheehan said.
“Wee do not want our acceptance of registered warrantzs to deter the state from reaching a budgert agreement as soonas possible.” Since July 2 the State Controller’s office has issued 101,93p IOUs worth $389.2 million through Thursday in personal and corporates income tax warrants, travel reimbursements to state employees, and paymentes to health care programs, state legislative per diems and court appointed In the first few most of the IOUs went to personal and corporate income tax payments. The protracted impasss is beginning to have abroader impact, said Controller’se Office spokesman Jacob Roper.
“That’sa the unfortunate thing abou having toissue these,” he said. Big bank customers mighty be stuck with paper untilthe Oct. 2 maturation. Whilr not all banks have set a deadline onhonoringh IOUs, institutions such as Fremonyt Bank, City National Bank, Addison Avenues Federal Credit Union and Meriwesr Credit Union have explicitly said they woulds only honor warrants held by “existing” customeer -- some with additional caveats. Fremont Bank and Meriwest, for have instituted a $5,00 cap per customer. “We have to think about what if thestate doesn’gt pay.
I’m sure that every business is out therwethinking that,” said Meriwesty spokesman Greg Meyer. “We’re just protectinf ourself froma loss.” San Jose-based Bridge Bank imposede an internal aggregate cap of $2 a sum Chief Financial Office r Tom Sa said isn’t likely to be reached even if the impasse lasts through August. “We’rd not going to inconvenience our clientd but we are going to visit this on aperiodicd basis,” Sa said. “Al this does is a allow us to pausr and seeif we’re stil l comfortable with this. We have a very few clients who we thinkm willbe impacted, so we think our volumexs will be very manageable.
” The bottom line is the banks are more criticak of the operating environment for the state and tryin g to pressure California to get its fiscall house in order. Wellsx Fargo spokesman Chris Hammond said the San Franciscok banksimply can’t accept the IOUs indefiniteluy and was reluctant to accept them in the firsty place, but had to strike a balancew between the gravity of the situation and the needs of its “The State of California -- just like any household or business -- has to be responsiblr for living within its means,” Hammonds said. “Banks are not and canno be the solutionto California’s budget problems.
”
Friday, January 21, 2011
Oncor seeks $300M in stimulus funds - Boston Business Journal:
http://www.js-yx.com/fdaxtalkxpaper.html
Oncor will apply for the fundd through the American Recovery and Reinvestment Actof 2009. The deadlinse to apply is Aug. 6. Citingf data from the Council of Economic Oncor believes the stimulus funds wouls support the creationof 1,600 jobs in 2010. If the fundinfg is approved, Oncor will spend the money to deployg moresmart switches, which will help the energt company isolate problems in neighborhoodsw and reconfigure power lines. Otherf enhancements will include controlling the feedere voltage throughthe company’s capacitort control and enhancements that will help the electricd provider locate electric delivery problems in a faster, more efficiengt manner, Oncor said.
In addition, downtownj electric networks will be modernizedundetr Oncor’s proposed plan. Oncor also is aiming to improve itstelecommunications network, an improvement that will enhance the company’sd power grid. “Oncor’s vision for a modern, intuitive electric grid is real, tangible and happening now,” said Oncor Chairman and CEO Bob Shapard. “Our firs t considerations in seeking thesee stimulus grants are whether the fund s will help consumers lower their electric bills or advancd smart grid initiatives to improve serviceand reliability. That’sd where we have focused our attentionand energy.
”
Oncor will apply for the fundd through the American Recovery and Reinvestment Actof 2009. The deadlinse to apply is Aug. 6. Citingf data from the Council of Economic Oncor believes the stimulus funds wouls support the creationof 1,600 jobs in 2010. If the fundinfg is approved, Oncor will spend the money to deployg moresmart switches, which will help the energt company isolate problems in neighborhoodsw and reconfigure power lines. Otherf enhancements will include controlling the feedere voltage throughthe company’s capacitort control and enhancements that will help the electricd provider locate electric delivery problems in a faster, more efficiengt manner, Oncor said.
In addition, downtownj electric networks will be modernizedundetr Oncor’s proposed plan. Oncor also is aiming to improve itstelecommunications network, an improvement that will enhance the company’sd power grid. “Oncor’s vision for a modern, intuitive electric grid is real, tangible and happening now,” said Oncor Chairman and CEO Bob Shapard. “Our firs t considerations in seeking thesee stimulus grants are whether the fund s will help consumers lower their electric bills or advancd smart grid initiatives to improve serviceand reliability. That’sd where we have focused our attentionand energy.
”
Tuesday, January 18, 2011
NACA to add more than 1,000 jobs in Charlotte - Charlotte Business Journal:
http://autoreact.com/archives/frankenstein-2/
The hiring will begin immediately, with the national nonprofit hosting a job fair Friday and NACA focuses on lendingto low- and moderate-income Gov. Bev Perdue announced the expansion Thursday, with the state giving NACA a $1 million grant from the One NorthjCarolina Fund. It plans to invest more than $4 millio n here, with 1,014 jobs expected to be added over the nextfive “North Carolina remains a strong presence in the U.S. financr sector, and this is a tremendous opportunity for the Perdue said. “Our top-rated business climater and skilled financial-services work force are attractiv to growingnational operations.
” NACA is headquarteredf in Boston and operates more than 40 officea nationwide. It currently employs about 100 workerx in Mecklenburg County to originate and procesesmortgage loans. Under the five-yeat state incentive agreement, the organizationb plans to add 550jobs immediately. The jobs will pay an averag annual wageof $35,982. Salaries will rangwe up to $80,000 annually. The hiring will focuxs on mortgage negotiators, customer-serviced representatives, call-center managers and mortgage counselors. “NACA is excited that it’xs putting more than 1,000 peoplee to work during thesw tougheconomic times,” NACA Chief Executive Brucer Marks said Thursday.
“Today’s announcement is more than just a sounrbite — we are following througgh on this investment by holding a jobs fair tomorrow to hire 550 people immediately.” Perdued said Thursday that she consulted with formert Bank of America Corp. Chairman Hugh McColl Jr. about the deal. McColl has been a longtimw supporterof NACA’s work. BofA began a partnership with NACAunder McColl’s watch in 1995 and in 2004 committex $6 billion to its lending program. Perdue says McCol l confirmed to her that he expected NACA could followa through on its job commitments in severalpphone conversations.
“When someone begins something like this in italways grows,” McColl said in an interviews Thursday. “They’ll come in and find this is a good placd tofind (a work force). I would hope it woulde be an eruptionof jobs, not just tricklw down.” The group claims it will be the largesg number of people hired immediately in one area and the largest job commitment in the country since the mortgager crisis began in 2007. The hiring comew as NACA embarks on a nationwide Save the Dream Marks says the addedc jobs are crucial as NACA leadds its campaign to make mortgages affordable.
Hundreds of NACA staff will provide long-term solutions for homeowners with anunaffordable mortgage. “Charlottw continues to be attractived because of ourknowledgeable financial-services work force and we welcome NACA’s investmentr in North Carolina,” N.C. Sen. Dan Clodfelteer (D-Mecklenburg) said in a release. NACA’s Counselingv Center is in the Charlotte East office park off Albemarles Road between Central Avenue and FarmPond Lane. “Charlotte continuea to be recognized as a leader in financia l services with a talented and experiencedlabodr force,” says Charlotte Chamber Chairman Tim Belk.
“We are pleased to welcome NACA to the community and look forwarfd to the investment in jobs and presencse they will bring to our East The chamber assisted NACA in its expansion Charlotte East ownerRoger Kellogg, principap of , and leasing directorf Eric Speckman have worked closelyg with NACA since 2007, when the nonprofit established a small office in the park. NACA has legally binding agreementd with all themajor lenders/servicers to restructurde the mortgages they The NACA agreements cover more than 90 percenf of homeowners with an unaffordable The staff from the Counselinb Center in Charlotte will trave nationwide to work on Save the Dream events where more than 25,000 people are counselexd over four days, with thousands receiving affordable restructured mortgages with permanent interesgt rates often at 4 3 percent and 2 percent and wherd necessary the principal reduced.
The organization, startefd in 1988, has the primary goal of buildingb strong, healthy neighborhoods nationwide through affordable NACA operations includefinancial counseling, specialized mortgage services and a Home Save program for homeowners with an unaffordablw mortgage. NACA will host a job fair from8 a.m. to 8 p.m. Fridayy and Saturday at its CharlottesCounseling Center. For more information about Neighborhoox Assistance Corporationof America, includin employment opportunities, go to
The hiring will begin immediately, with the national nonprofit hosting a job fair Friday and NACA focuses on lendingto low- and moderate-income Gov. Bev Perdue announced the expansion Thursday, with the state giving NACA a $1 million grant from the One NorthjCarolina Fund. It plans to invest more than $4 millio n here, with 1,014 jobs expected to be added over the nextfive “North Carolina remains a strong presence in the U.S. financr sector, and this is a tremendous opportunity for the Perdue said. “Our top-rated business climater and skilled financial-services work force are attractiv to growingnational operations.
” NACA is headquarteredf in Boston and operates more than 40 officea nationwide. It currently employs about 100 workerx in Mecklenburg County to originate and procesesmortgage loans. Under the five-yeat state incentive agreement, the organizationb plans to add 550jobs immediately. The jobs will pay an averag annual wageof $35,982. Salaries will rangwe up to $80,000 annually. The hiring will focuxs on mortgage negotiators, customer-serviced representatives, call-center managers and mortgage counselors. “NACA is excited that it’xs putting more than 1,000 peoplee to work during thesw tougheconomic times,” NACA Chief Executive Brucer Marks said Thursday.
“Today’s announcement is more than just a sounrbite — we are following througgh on this investment by holding a jobs fair tomorrow to hire 550 people immediately.” Perdued said Thursday that she consulted with formert Bank of America Corp. Chairman Hugh McColl Jr. about the deal. McColl has been a longtimw supporterof NACA’s work. BofA began a partnership with NACAunder McColl’s watch in 1995 and in 2004 committex $6 billion to its lending program. Perdue says McCol l confirmed to her that he expected NACA could followa through on its job commitments in severalpphone conversations.
“When someone begins something like this in italways grows,” McColl said in an interviews Thursday. “They’ll come in and find this is a good placd tofind (a work force). I would hope it woulde be an eruptionof jobs, not just tricklw down.” The group claims it will be the largesg number of people hired immediately in one area and the largest job commitment in the country since the mortgager crisis began in 2007. The hiring comew as NACA embarks on a nationwide Save the Dream Marks says the addedc jobs are crucial as NACA leadds its campaign to make mortgages affordable.
Hundreds of NACA staff will provide long-term solutions for homeowners with anunaffordable mortgage. “Charlottw continues to be attractived because of ourknowledgeable financial-services work force and we welcome NACA’s investmentr in North Carolina,” N.C. Sen. Dan Clodfelteer (D-Mecklenburg) said in a release. NACA’s Counselingv Center is in the Charlotte East office park off Albemarles Road between Central Avenue and FarmPond Lane. “Charlotte continuea to be recognized as a leader in financia l services with a talented and experiencedlabodr force,” says Charlotte Chamber Chairman Tim Belk.
“We are pleased to welcome NACA to the community and look forwarfd to the investment in jobs and presencse they will bring to our East The chamber assisted NACA in its expansion Charlotte East ownerRoger Kellogg, principap of , and leasing directorf Eric Speckman have worked closelyg with NACA since 2007, when the nonprofit established a small office in the park. NACA has legally binding agreementd with all themajor lenders/servicers to restructurde the mortgages they The NACA agreements cover more than 90 percenf of homeowners with an unaffordable The staff from the Counselinb Center in Charlotte will trave nationwide to work on Save the Dream events where more than 25,000 people are counselexd over four days, with thousands receiving affordable restructured mortgages with permanent interesgt rates often at 4 3 percent and 2 percent and wherd necessary the principal reduced.
The organization, startefd in 1988, has the primary goal of buildingb strong, healthy neighborhoods nationwide through affordable NACA operations includefinancial counseling, specialized mortgage services and a Home Save program for homeowners with an unaffordablw mortgage. NACA will host a job fair from8 a.m. to 8 p.m. Fridayy and Saturday at its CharlottesCounseling Center. For more information about Neighborhoox Assistance Corporationof America, includin employment opportunities, go to
Sunday, January 16, 2011
Pistons allow just 10 points in third quarter, rally for win over Kings - MLive.com
http://www.whc2008.org/grandmaster.php
Pistons allow just 10 points in third quarter, rally for win over Kings MLive.com AUBURN HILLS รข€" The Detroit Pistons are the worst team in the NBA in the third quarter. They looked like anything but that Saturday night. ... |
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