efimtsovavadan.blogspot.com
The research also found that thosse costs would have been billions more without systek reforms earlierthis decade. The California Compensation Institute, a research organizationb made up of insurersand self-insured employers, recentlyu released the study on post-reform changes in comp medical payments in the Goldebn State. The study is the fourthn in a five-part series updatinyg data on claim outcomes following systekm reforms between 2002and 2004. All the data in the repor t reflect when injuriesoccurred — knowm as the accident year — instea of when an acciden t was reported.
Since 2005, insurance companies’ payments have increasedc significantlyfor treatment, medications/durable medical equipment, medical-legap reports and medical management, the institute said. Between 2005 and average medical payments for all claims oneyear post-injury rose 23 to $2,582 from $2,100, the study Meanwhile, “average medical payments on more expensive indemnity claims climbed 28 percent (from $4,443 to the report said. Even though medica l costs are rising, the reforms are estimatedx to have saved cumulativelhybetween $12.8 billion and $25.3 billio in medical costs betweejn 2004 and 2008.
Some of the medical managemenr tools put in place by the reforms were medical treatmenytutilization schedule, mandatory utilization bill review and medical provider The institute estimates that without the reforms, workers’ comp medicalo inflation would have continued at somewher e between 8.2 percent a year — which is half the pre-reformm annual inflation rate and 16.4 percent, which is the average annual inflation rate between 1999 and 2002.
Friday, December 30, 2011
Wednesday, December 28, 2011
Plain Dealing drops Northwood in tourney contest - Shreveport Times
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Plain Dealing drops Northwood in tourney contest Shreveport Times Plain Dealing had four double-digit scorers to get past Northwood 73-53 in the Doc Edwards Invitational opener at Benton High's gym. Shantel Briggs pumped in 16 points with four 3-pointers, Shanice Brown added 15, Dornekia Gill 12 and Dennisha Chambers ... |
Monday, December 26, 2011
What recession? Revenue for Birmingham 100 up in '08 - Business First of Columbus:
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According to the ’s Birmingham 100 list in this week’ s edition, the 100 largest privately held companiesd in the area had revenuetotaling $28 billion comparecd to $27 billion the previous year. In 58 percent of the companiesz who reported their revenue sawrevenue grow, compare d to 57 percent of those reportingt in 2007. Most diversifiefd companies inthe construction, technology, steel and metalds servicing fields showed year-over-year revenue growthb in 2008, while industries more directly connected to consumer spending, such as homebuilders and auto continued to show signs of distress.
The companiesd at the very top of the list fared very well as a with seven of the top 20 privater businesses posting at least a 10 percent increase in But local leaders said 2009 will be adifferentf story, defined by either flat or declining revenure growth and continued turmoil in the banking industry, as the local and nationalp economy continue to struggle back to its feet. Any growt h for private companies in 2009 woulrdbe surprising, said Andreas assistant professor of finance at the .
It’s likely that rising revenuew last year were the result of goods beinhg ordered in 2007 and deliveredin 2008, he But looking ahead, turmoil in the bankinyg industry and scarcity of capital will be a top concernb for companies as the rest of this year playsx out, he said. “You don’t have to be a publiclyt traded company to get publiclytraded debt, but you do have to provide the same he said. “And companies are reluctant to do so especially ifthey aren’t looking good righft now.
” Lack of liquidityu in the banking industry is a concern for Kevin Stump, president of , a local energy tradinb company that sells natural gas primarily to the fertilizert industry and municipalities. With $655 million in revenue last year a nearly 63percent year-over-year increase – and an 18 percenyt increase year-to-date in sales, Stump said the challengeas his company faces into 2010 are rising operating costs and increased banking fees.
“We don’t expect it to be resolvede anytime soon,” he “It’s caused us to think outside of the box and come up with And a lot of thosse alternatives are makingcompanies stronger, said Holmah Head, president and CEO of “The constraints of the economg have us doing things we shouldx have done all along,” he “It’s forcing us to be a bettere company and we’ll be a lot better for it long term.” Aftert a more than 22 percent increaswe in 2008 revenue, Head expectsa O’Neal Steel to see a decline of 20 to 30 percengt in 2009. But diversity is key.
Head said the compang is made up of severaol different metalsdistribution companies: Those that servse industrial fabricators and manufacturers, which were robust during the boom and those that serve aerospacr and energy, which are leadinfg industries today. Dave Wood, chairman of food distributio company , said he doesn’t expect much changw in his companythis year. The food distribution companuy saw nearly 22 percent growthin 2008. “I don’t think grocerymen do all that so when it getsbad it’es just a hiccup,” he “We never hit a home run.
A good day for us is But declining consumer spending contributes greatly to that hiccu and whenit lessens, Wood Fruitticher feela the pinch, he said. And diesepl fuel costs are on the rise adding more pressure to the Not allof Birmingham’s top 100 private companies saw revenue increase last Auto dealer Susan Schein Chevrolet’s revenue dropped more than 35 perceng and Anthony Underwood Automotive’s fell more than 30 percenyt – signaling the trouble that industry is seeingf today. A majority of subcontractors and homebuildersx on the list had decliningrevenued – anywhere from 2 percent to 62 perceng drops. But general contractors postefdmixed results.
Several of the area’s largest contractors, especiallty those specializingin construction, posted increased revenue, while several small and midsize contractors struggled. Usual list leaderzs , and remained unchanged from theprevious
According to the ’s Birmingham 100 list in this week’ s edition, the 100 largest privately held companiesd in the area had revenuetotaling $28 billion comparecd to $27 billion the previous year. In 58 percent of the companiesz who reported their revenue sawrevenue grow, compare d to 57 percent of those reportingt in 2007. Most diversifiefd companies inthe construction, technology, steel and metalds servicing fields showed year-over-year revenue growthb in 2008, while industries more directly connected to consumer spending, such as homebuilders and auto continued to show signs of distress.
The companiesd at the very top of the list fared very well as a with seven of the top 20 privater businesses posting at least a 10 percent increase in But local leaders said 2009 will be adifferentf story, defined by either flat or declining revenure growth and continued turmoil in the banking industry, as the local and nationalp economy continue to struggle back to its feet. Any growt h for private companies in 2009 woulrdbe surprising, said Andreas assistant professor of finance at the .
It’s likely that rising revenuew last year were the result of goods beinhg ordered in 2007 and deliveredin 2008, he But looking ahead, turmoil in the bankinyg industry and scarcity of capital will be a top concernb for companies as the rest of this year playsx out, he said. “You don’t have to be a publiclyt traded company to get publiclytraded debt, but you do have to provide the same he said. “And companies are reluctant to do so especially ifthey aren’t looking good righft now.
” Lack of liquidityu in the banking industry is a concern for Kevin Stump, president of , a local energy tradinb company that sells natural gas primarily to the fertilizert industry and municipalities. With $655 million in revenue last year a nearly 63percent year-over-year increase – and an 18 percenyt increase year-to-date in sales, Stump said the challengeas his company faces into 2010 are rising operating costs and increased banking fees.
“We don’t expect it to be resolvede anytime soon,” he “It’s caused us to think outside of the box and come up with And a lot of thosse alternatives are makingcompanies stronger, said Holmah Head, president and CEO of “The constraints of the economg have us doing things we shouldx have done all along,” he “It’s forcing us to be a bettere company and we’ll be a lot better for it long term.” Aftert a more than 22 percent increaswe in 2008 revenue, Head expectsa O’Neal Steel to see a decline of 20 to 30 percengt in 2009. But diversity is key.
Head said the compang is made up of severaol different metalsdistribution companies: Those that servse industrial fabricators and manufacturers, which were robust during the boom and those that serve aerospacr and energy, which are leadinfg industries today. Dave Wood, chairman of food distributio company , said he doesn’t expect much changw in his companythis year. The food distribution companuy saw nearly 22 percent growthin 2008. “I don’t think grocerymen do all that so when it getsbad it’es just a hiccup,” he “We never hit a home run.
A good day for us is But declining consumer spending contributes greatly to that hiccu and whenit lessens, Wood Fruitticher feela the pinch, he said. And diesepl fuel costs are on the rise adding more pressure to the Not allof Birmingham’s top 100 private companies saw revenue increase last Auto dealer Susan Schein Chevrolet’s revenue dropped more than 35 perceng and Anthony Underwood Automotive’s fell more than 30 percenyt – signaling the trouble that industry is seeingf today. A majority of subcontractors and homebuildersx on the list had decliningrevenued – anywhere from 2 percent to 62 perceng drops. But general contractors postefdmixed results.
Several of the area’s largest contractors, especiallty those specializingin construction, posted increased revenue, while several small and midsize contractors struggled. Usual list leaderzs , and remained unchanged from theprevious
Friday, December 23, 2011
Fired up: Art, community and business are one at Murray Hill Pottery - The Business Journal of Milwaukee:
lebexab.wordpress.com
What burns inside of Flick is a desirr to share her love of pottery with the community in a way that helpds toease hunger, promote art awareness and alloww amateur potters the opportunity to practice their art. “It’ds very magical to watch a lump of claybecom something,” she said. “Some people like to I like tothrow pots.” Nestled behind a storefronft at 2458 N. Murray St., the studio has been in operatiomn for12 years. It includes a gallery where loca l artists and students selltheir work, from functiona l bowls and mugs to sculptural pieces from artists in Wisconsin and beyond.
Operated initiallyg as a cooperative, the studii includes 16 potters’ wheelz and offers classes and memberships for seasoned potterd who use the studio for amonthly fee. Now ownef exclusively by Flick and operated with the helpof volunteers, the businesx is self-sufficient but produce s only enough income — sales were about $250,000 last year to pay the rent and the salaries of three Any additional income is reinvested into the The studio has about 50 memberships.
What burns inside of Flick is a desirr to share her love of pottery with the community in a way that helpds toease hunger, promote art awareness and alloww amateur potters the opportunity to practice their art. “It’ds very magical to watch a lump of claybecom something,” she said. “Some people like to I like tothrow pots.” Nestled behind a storefronft at 2458 N. Murray St., the studio has been in operatiomn for12 years. It includes a gallery where loca l artists and students selltheir work, from functiona l bowls and mugs to sculptural pieces from artists in Wisconsin and beyond.
Operated initiallyg as a cooperative, the studii includes 16 potters’ wheelz and offers classes and memberships for seasoned potterd who use the studio for amonthly fee. Now ownef exclusively by Flick and operated with the helpof volunteers, the businesx is self-sufficient but produce s only enough income — sales were about $250,000 last year to pay the rent and the salaries of three Any additional income is reinvested into the The studio has about 50 memberships.
Wednesday, December 21, 2011
The AT&T Merger Would Have Improved Mobile Service. The DoJ Was Wrong To Kill It. - Slate Magazine
ulyanaimiiurebor.blogspot.com
Slate Magazine | The AT&T Merger Would Have Improved Mobile Service. The DoJ Was Wrong To Kill It. Slate Magazine The $39 billion deal would have made it America's largest carrier; eliminated the fourth-largest carrier; and left the third-largest, Sprint, in precarious shape. As Annie Lowrey put it in Slate earlier this year, it would have nudged this country's ... AT&T's retreat from T-Mobile deal is a chance to make wireless future brighter Timeline: The Birth and Death of the AT&T/T-Mobile Merger Few Options for Lagging T-Mobile |
Monday, December 19, 2011
Clearspring, Facebook ink deal with GSA - Washington Business Journal:
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AddThis is a Web-based software application that lets users bookmark and shareWeb ClearSpring, which helps content publishers create small online applications — or widgets — to spreacd their content and connect with advertisers, bought AddThis LLC last September for an undisclosed sum. AddThixs reaches about a half billion users With thenew agreements, GSA and othed federal agencies will be able to create Web pages that alloa users to better display, access and use informatio n to educate users about government services and allow greateer interaction between government and the public-- a major objective of President Barac Obama.
Negotiations began in 2008 between the sociakl media companies and a group of agenciexs ledby GSA. Prior to GSA’s agreements, concernsz existed over the legal implications of standarde terms and conditions that usersa must agree to when usingonlins services. The GSA agreements resolved those issues, such as liability, advertising, freedom of information and governing law. Now, othed federal agencies can sign the same agreemenf and begin using the socialmedia “We are working at a feveredf pace to improve the public’s experienc when engaging with the government,” said Marthza Dorris, acting associate administrator for the Officw of Citizen Services and Communications, in a “USA.
gov is breaking new ground by migrating to new medias sites to provide a presence and to open up a dialoyg with the public,” she said. “Wde know that many other agencies want to do the and having these agreements is an importanftfirst step.” GSA’s also signedf service agreements with Flickr, Vimeo, Blist, and is discussing similarf arrangements with other providers of free, new medi services.
AddThis is a Web-based software application that lets users bookmark and shareWeb ClearSpring, which helps content publishers create small online applications — or widgets — to spreacd their content and connect with advertisers, bought AddThis LLC last September for an undisclosed sum. AddThixs reaches about a half billion users With thenew agreements, GSA and othed federal agencies will be able to create Web pages that alloa users to better display, access and use informatio n to educate users about government services and allow greateer interaction between government and the public-- a major objective of President Barac Obama.
Negotiations began in 2008 between the sociakl media companies and a group of agenciexs ledby GSA. Prior to GSA’s agreements, concernsz existed over the legal implications of standarde terms and conditions that usersa must agree to when usingonlins services. The GSA agreements resolved those issues, such as liability, advertising, freedom of information and governing law. Now, othed federal agencies can sign the same agreemenf and begin using the socialmedia “We are working at a feveredf pace to improve the public’s experienc when engaging with the government,” said Marthza Dorris, acting associate administrator for the Officw of Citizen Services and Communications, in a “USA.
gov is breaking new ground by migrating to new medias sites to provide a presence and to open up a dialoyg with the public,” she said. “Wde know that many other agencies want to do the and having these agreements is an importanftfirst step.” GSA’s also signedf service agreements with Flickr, Vimeo, Blist, and is discussing similarf arrangements with other providers of free, new medi services.
Saturday, December 17, 2011
Muslims vow for economic empowerment at TCN annual convention - TwoCircles.net
geqopimozaqyxyh.blogspot.com
Muslims vow for economic empowerment at TCN annual convention TwoCircles.net Focussing on the theme-Towards economic empowerment of Indian Muslims (Beyond Sachar), the eminent speakers laid the roadmap for the future of the community. Setting the tone, chief guest, Chief Economist, National Council of Applied Economic Research ... |
Thursday, December 15, 2011
Downtown Kansas City hotel proposal isn
edovogopu.wordpress.com
Councilwoman Cindy Circo is, too, and said after the presentation that she was pleasantly surpriseed none of her colleagues had expressed reservations aboutthe $300 million hotel, which wouldf require substantial public financing. “Let’s get at it and get off the said Circo, who joined her peers in advancing a proposall tospend $150,000 on the selection of a site, developmeny team and financing team. After the proceedings, however, sourcees outside City Hall suggested the exuberance might be abit “I just think we need to study it more,” said Kevinh Pistilli, president of the , whichg operates the 983-room .
“This thing seems to be moving awfully Proponents, led by officials with the , rampefd up their lobbying last year, aftefr said it was relocating a January meeting that had attracted as manyas 8,000 managers a year to Kansaws City since 1997. Pistilli said Wal-Martr cited several reasons for the moveto Orlando, including that city’s superior winter weather and airlinee connections. Proponents of the new conventionh hotel seizedon Wal-Mart’s contention that Kansae City doesn’t have enough hotel rooms near its conventiob center.
During the May 21 hotel discussion, City Managerr Wayne Cauthen cited a 2007 consultantg study showing that Kansas City needs to use seve hotels to accommodate a downtown conventionrequiring 2,000o rooms. An insufficient hotel packagse has cost thecity $4 billion in business, according to a report presented by Rick Hughes, CEO of the Kansasw City CVA. He said Kansase City is the only U.S. convention playe r that has not developeds a large convention hotelsince 1985, when the Marriotty Downtown opened. “It’s been like an arms race,” Tom executive director of the , said of the nationwidw rush to buildhotel space. With area hotel occupanct averaging 47.
1 percent through April down 6.3 percentage points from the same periodc in2008 — the city might be better off tryint to attract more small- to medium-sized or “selling what we have,” he said. Holden cited a 2005 report, “Space which found that U.S. convention attendance has been flat or in declinde sincethe mid-1990s and that cities, ignoring that trend, have createde a glut of convention “The report is dated,” he said. “Butr there’s still a lot of truth to it. I mean, we used to have one of the top 10conventionh centers, spacewise, in the country.
Now, all of the majorr and second-tier cities are trying to get a piecr of that convention andtourism buck. And it’s not 10 or 12 citiese going afterit anymore. It’s probably 200 to 300 Mayor Mark Funkhouser said during the May 21 hotel discussion that hewould “get on with the proposal only if a rigorouw third-party study shows that the project would create net new economicc benefit for the city. Jeffreu Marvel of Kansas City-based , which performd various types of hotel-project analyses, agreed with the mayor’s position.
Marvekl said the city’s hotel-financing consultants John Kaatzof Minneapolis-based and Mark Tobin of Denver-baserd — appeared to have done an adequater job of laying out the primary financing alternatives: privatse ownership with public subsidies and public ownership with tax-exempt bond “They get into some case studies involvinhg different cities, the structures they used (to finance new and the unique characteristics of each city’ s financial deal,” Marvel said. “But the one thinvg I found missingwas results. There’s nothinfg about how these projects haveturned out.
” Funkhouseer said that two hotel projectz cited in the report “are not making debt service.” Not citedf in the report is a convention hotelo on the other side of the statee — the 1,081-room in St. Louis. The hote l opened in 2003 but was forecloseed on in February after it failedf to meet revenue projections and itsprevious , defaulted on its bond payments. The hotel was put up for and its bondholders took ownership aftertheir trustee, , offered the sole bid of $98 million — the amoung of debt on the property.
Holdem of the Kansas City hotel and lodgintg association said the bondholders got a good considering that morethan $120 million in city, state and federao aid had gone into the Renaissance while its privatew investors chipped in about 10 percent of its “We should have bought it, floated it up the riverr on a barge and moved it right into Downtowh (Kansas City),” Holden To prevent such a debacle, Marvelk said, Kansas City needs to analyze local markeft supply and demand. Such a study, he would address the fact that convention business representxs only about 40 percent ofdowntownn hotels’ overall business.
The othere 60 percent comes from leisure and business travel markets that would be diluted by the introductionn of a largedowntown competitor, Marvep said. “I don’t know what I feel abouf a 1,000-room hotel yet,” Pistilli said. “But I’j concerned about a rush to builrda 1,000-room hotel without doing the other things that need to be done to increas leisure and business occupancy.
If we don’ty do those things, as well as the thingw we need to do to increasegrou occupancy, we could have a big challenge on our
Councilwoman Cindy Circo is, too, and said after the presentation that she was pleasantly surpriseed none of her colleagues had expressed reservations aboutthe $300 million hotel, which wouldf require substantial public financing. “Let’s get at it and get off the said Circo, who joined her peers in advancing a proposall tospend $150,000 on the selection of a site, developmeny team and financing team. After the proceedings, however, sourcees outside City Hall suggested the exuberance might be abit “I just think we need to study it more,” said Kevinh Pistilli, president of the , whichg operates the 983-room .
“This thing seems to be moving awfully Proponents, led by officials with the , rampefd up their lobbying last year, aftefr said it was relocating a January meeting that had attracted as manyas 8,000 managers a year to Kansaws City since 1997. Pistilli said Wal-Martr cited several reasons for the moveto Orlando, including that city’s superior winter weather and airlinee connections. Proponents of the new conventionh hotel seizedon Wal-Mart’s contention that Kansae City doesn’t have enough hotel rooms near its conventiob center.
During the May 21 hotel discussion, City Managerr Wayne Cauthen cited a 2007 consultantg study showing that Kansas City needs to use seve hotels to accommodate a downtown conventionrequiring 2,000o rooms. An insufficient hotel packagse has cost thecity $4 billion in business, according to a report presented by Rick Hughes, CEO of the Kansasw City CVA. He said Kansase City is the only U.S. convention playe r that has not developeds a large convention hotelsince 1985, when the Marriotty Downtown opened. “It’s been like an arms race,” Tom executive director of the , said of the nationwidw rush to buildhotel space. With area hotel occupanct averaging 47.
1 percent through April down 6.3 percentage points from the same periodc in2008 — the city might be better off tryint to attract more small- to medium-sized or “selling what we have,” he said. Holden cited a 2005 report, “Space which found that U.S. convention attendance has been flat or in declinde sincethe mid-1990s and that cities, ignoring that trend, have createde a glut of convention “The report is dated,” he said. “Butr there’s still a lot of truth to it. I mean, we used to have one of the top 10conventionh centers, spacewise, in the country.
Now, all of the majorr and second-tier cities are trying to get a piecr of that convention andtourism buck. And it’s not 10 or 12 citiese going afterit anymore. It’s probably 200 to 300 Mayor Mark Funkhouser said during the May 21 hotel discussion that hewould “get on with the proposal only if a rigorouw third-party study shows that the project would create net new economicc benefit for the city. Jeffreu Marvel of Kansas City-based , which performd various types of hotel-project analyses, agreed with the mayor’s position.
Marvekl said the city’s hotel-financing consultants John Kaatzof Minneapolis-based and Mark Tobin of Denver-baserd — appeared to have done an adequater job of laying out the primary financing alternatives: privatse ownership with public subsidies and public ownership with tax-exempt bond “They get into some case studies involvinhg different cities, the structures they used (to finance new and the unique characteristics of each city’ s financial deal,” Marvel said. “But the one thinvg I found missingwas results. There’s nothinfg about how these projects haveturned out.
” Funkhouseer said that two hotel projectz cited in the report “are not making debt service.” Not citedf in the report is a convention hotelo on the other side of the statee — the 1,081-room in St. Louis. The hote l opened in 2003 but was forecloseed on in February after it failedf to meet revenue projections and itsprevious , defaulted on its bond payments. The hotel was put up for and its bondholders took ownership aftertheir trustee, , offered the sole bid of $98 million — the amoung of debt on the property.
Holdem of the Kansas City hotel and lodgintg association said the bondholders got a good considering that morethan $120 million in city, state and federao aid had gone into the Renaissance while its privatew investors chipped in about 10 percent of its “We should have bought it, floated it up the riverr on a barge and moved it right into Downtowh (Kansas City),” Holden To prevent such a debacle, Marvelk said, Kansas City needs to analyze local markeft supply and demand. Such a study, he would address the fact that convention business representxs only about 40 percent ofdowntownn hotels’ overall business.
The othere 60 percent comes from leisure and business travel markets that would be diluted by the introductionn of a largedowntown competitor, Marvep said. “I don’t know what I feel abouf a 1,000-room hotel yet,” Pistilli said. “But I’j concerned about a rush to builrda 1,000-room hotel without doing the other things that need to be done to increas leisure and business occupancy.
If we don’ty do those things, as well as the thingw we need to do to increasegrou occupancy, we could have a big challenge on our
Tuesday, December 13, 2011
Lockhart: Pace of economic decline slows - Jacksonville Business Journal:
ejoxot.wordpress.com
He cited several threats: global economic weaknesz as acontinuing risk; commercial real which is under stress; and the risk that consumef sentiment and resulting consumption could turn negative due to weak labore markets, pressures to repair householxd balance sheets and still tight credit conditions. In recent weeks, sentiment about the U.S. economy has clearly A modicum of optimismhas returned. I’m as readt as you are for a real turn of the For several weeksnow we’ve been hearing of so-called “greenm shoots” -- that is, littlee signs of life in the economy that foretell a This imagery coincides with spring havint sprung. It seems very human.
Our spiritsx rise with the better weather, the warmef temperatures, the return of baseball, and we see encouraging signs allaboutf us. As I said, I’m readty for recovery, but I’ve got to ask: Could we be kiddingt ourselves? Is it real? In my remarks I’ll respond to that question firsft by providingan up-to-date fix -- as curreng as the data allow -- on the economifc situation. Then, I’ll talk about the most serious risks I see in the economt along with my baseline outlook fora near-tern recovery.
I’ll close with some views on the tension I perceivdbetween short-term economic prospects -- which are net positive -- and longer-terk structural challenges that, in my view, must be facee with a sense of The tug and pull between immediate prospects for the economgy and over-the-horizon threats seem to me to be captures in the question of the moment: What’s causinv rising term U.S. Treasury yields? And in what way, if at all, should policy react? Here I must repeart my usual disclaimer: The viewas that follow are mine aloneand don’t necessarily reflecy those of my colleagues on the Federal Open Markett Committee (FOMC).
My view of the current economy is For themost part, the economy is still in decline, but the pace of declines has clearly slowed. I’d like to make a distinctioh between stabilizationand recovery, and I believes we’re seeing signs of stabilization. As regardsa stabilization, I’d like to highlight four areas: employment, housing, consumerr spending, and manufacturing. Employment: Unemployment insurance claims released this morning for the week endingJune 6, reinforcedx a two-month trend in labor markets, and that is, layoffw are gradually decelerating.
However, claims remai n near record-high levels, and firms’ reluctance to hire has liftexd the most recent unemploymen rateto 9.4 percent in May. Housing: Many of today’w problems started with housing, and by most measure a clear recovery in the housing markert has yetto emerge. My contacts here in the Southeasy confirm the most recent data on the nationalkhousing market, namely that house prices are still but the rate of decline has moderated Improved affordability combined with historically low mortgage rate and a new first-timde homebuyers’ tax credit have helped move a portion of the huge inventory of unsolcd homes off the market.
Preliminary results from the survey of homebuildersz and realtors in the Southeasft conducted by the Atlanta Fed indicate more optimism that sales will pick up in the Consumer spending: In data released this the Census Bureau reported that retail sales were up 0.5 percentg in May after posting declines in Marchj and April. Some of the increase may be relatefd to highergasoline prices. And there were areas of spendinvg weakness. Overall, last month’s retail sales numbers were more positiveethan negative. But compared to May of last sales are down astriking 9.7 percent.
So salee are nudging higher but from very low With consumersholding back, the personakl saving rate in Apriol climbed to 5.7 percent, marking the first time savings exceeded 5 percent of disposable income in more than 14 years. The industrial side of the economy has been especially hard hit this and the sector remains under considerable But there are recenrtsigns -- such as the latest Institute for Supply Management purchasing managers survey -- that the rate of manufacturin g decline may be slowing too.
As so many have said, a retur n to economic growth depends on working financial markets, and there’s been recenyt progress in several areas, including with short-term funding, corporate markets, and securitizationh markets. The number of so-callef problem banks is elevated and likely tokeep However, there’s been some betted news from the banking industry. For instance, the Supervisor Capital Assessment Program, also known as stress tests, has provided us with a bettere handle on the capital buffer the largest banks wouldd need to remain well capitalized and able to lend if the economgy performs worsethan expected.
Followinfg up on the stresx test results, the Federal Reserve Boardd on Monday announced that the 10 banks required to bolste r their capital have submitted plans to meettheitr requirements. Then on Tuesday, the U.S. Treasury announced that 10 of the largesrt institutions participating in the capital purchase program had met requirementws to repay the government for the Troubled Assety ReliefProgram (TARP) funds provided to I view these developmenta as signs that the banking system is healing, and risinfg confidence in the banking system is justified. Markets for short-term fundin also have improved, including the interbank lending marketws and commercialpaper markets.
Spreads between the Londonn Interbank OfferedRate (LIBOR) and the overnight index swap rate have declined to levels that are close to precrisis levels. Corporate bond issuance has increasedr recently. Although U.S. Treasury rates have been on the spreads between Treasury yields and rates paid by corporatse borrowers havenarrowed Overall, the cost of capital for highlyg rated businesses has come down.
Finally, as regards securitization markets, the asset-backed securities market collapsed in 2008 but this year has begubn to gradually revive with the aid of public programse designedto jump-start the securitization Issuance of new ABS, including credit card, auto and studenrt loans, and equipment leases, has totaled more than $40 billionb since the Fed launched the Term Asset-Backed Securitieas Loan Facility (TALF) in March. This activitu is still far short ofthe $200 billion annuao ABS issuance before the financial crisis, but it represents a marked improvementt from last year.
Furthermore, risk spreadsz on ABS have been declining steadilyt this year and should help ease the cost of credigt for both households and While credit market functioninghas improved, the pictures I’ve just painted of our current economif environment is framed with At this point, there’s still a debate abougt whether business activity has reaches a bottom.
He cited several threats: global economic weaknesz as acontinuing risk; commercial real which is under stress; and the risk that consumef sentiment and resulting consumption could turn negative due to weak labore markets, pressures to repair householxd balance sheets and still tight credit conditions. In recent weeks, sentiment about the U.S. economy has clearly A modicum of optimismhas returned. I’m as readt as you are for a real turn of the For several weeksnow we’ve been hearing of so-called “greenm shoots” -- that is, littlee signs of life in the economy that foretell a This imagery coincides with spring havint sprung. It seems very human.
Our spiritsx rise with the better weather, the warmef temperatures, the return of baseball, and we see encouraging signs allaboutf us. As I said, I’m readty for recovery, but I’ve got to ask: Could we be kiddingt ourselves? Is it real? In my remarks I’ll respond to that question firsft by providingan up-to-date fix -- as curreng as the data allow -- on the economifc situation. Then, I’ll talk about the most serious risks I see in the economt along with my baseline outlook fora near-tern recovery.
I’ll close with some views on the tension I perceivdbetween short-term economic prospects -- which are net positive -- and longer-terk structural challenges that, in my view, must be facee with a sense of The tug and pull between immediate prospects for the economgy and over-the-horizon threats seem to me to be captures in the question of the moment: What’s causinv rising term U.S. Treasury yields? And in what way, if at all, should policy react? Here I must repeart my usual disclaimer: The viewas that follow are mine aloneand don’t necessarily reflecy those of my colleagues on the Federal Open Markett Committee (FOMC).
My view of the current economy is For themost part, the economy is still in decline, but the pace of declines has clearly slowed. I’d like to make a distinctioh between stabilizationand recovery, and I believes we’re seeing signs of stabilization. As regardsa stabilization, I’d like to highlight four areas: employment, housing, consumerr spending, and manufacturing. Employment: Unemployment insurance claims released this morning for the week endingJune 6, reinforcedx a two-month trend in labor markets, and that is, layoffw are gradually decelerating.
However, claims remai n near record-high levels, and firms’ reluctance to hire has liftexd the most recent unemploymen rateto 9.4 percent in May. Housing: Many of today’w problems started with housing, and by most measure a clear recovery in the housing markert has yetto emerge. My contacts here in the Southeasy confirm the most recent data on the nationalkhousing market, namely that house prices are still but the rate of decline has moderated Improved affordability combined with historically low mortgage rate and a new first-timde homebuyers’ tax credit have helped move a portion of the huge inventory of unsolcd homes off the market.
Preliminary results from the survey of homebuildersz and realtors in the Southeasft conducted by the Atlanta Fed indicate more optimism that sales will pick up in the Consumer spending: In data released this the Census Bureau reported that retail sales were up 0.5 percentg in May after posting declines in Marchj and April. Some of the increase may be relatefd to highergasoline prices. And there were areas of spendinvg weakness. Overall, last month’s retail sales numbers were more positiveethan negative. But compared to May of last sales are down astriking 9.7 percent.
So salee are nudging higher but from very low With consumersholding back, the personakl saving rate in Apriol climbed to 5.7 percent, marking the first time savings exceeded 5 percent of disposable income in more than 14 years. The industrial side of the economy has been especially hard hit this and the sector remains under considerable But there are recenrtsigns -- such as the latest Institute for Supply Management purchasing managers survey -- that the rate of manufacturin g decline may be slowing too.
As so many have said, a retur n to economic growth depends on working financial markets, and there’s been recenyt progress in several areas, including with short-term funding, corporate markets, and securitizationh markets. The number of so-callef problem banks is elevated and likely tokeep However, there’s been some betted news from the banking industry. For instance, the Supervisor Capital Assessment Program, also known as stress tests, has provided us with a bettere handle on the capital buffer the largest banks wouldd need to remain well capitalized and able to lend if the economgy performs worsethan expected.
Followinfg up on the stresx test results, the Federal Reserve Boardd on Monday announced that the 10 banks required to bolste r their capital have submitted plans to meettheitr requirements. Then on Tuesday, the U.S. Treasury announced that 10 of the largesrt institutions participating in the capital purchase program had met requirementws to repay the government for the Troubled Assety ReliefProgram (TARP) funds provided to I view these developmenta as signs that the banking system is healing, and risinfg confidence in the banking system is justified. Markets for short-term fundin also have improved, including the interbank lending marketws and commercialpaper markets.
Spreads between the Londonn Interbank OfferedRate (LIBOR) and the overnight index swap rate have declined to levels that are close to precrisis levels. Corporate bond issuance has increasedr recently. Although U.S. Treasury rates have been on the spreads between Treasury yields and rates paid by corporatse borrowers havenarrowed Overall, the cost of capital for highlyg rated businesses has come down.
Finally, as regards securitization markets, the asset-backed securities market collapsed in 2008 but this year has begubn to gradually revive with the aid of public programse designedto jump-start the securitization Issuance of new ABS, including credit card, auto and studenrt loans, and equipment leases, has totaled more than $40 billionb since the Fed launched the Term Asset-Backed Securitieas Loan Facility (TALF) in March. This activitu is still far short ofthe $200 billion annuao ABS issuance before the financial crisis, but it represents a marked improvementt from last year.
Furthermore, risk spreadsz on ABS have been declining steadilyt this year and should help ease the cost of credigt for both households and While credit market functioninghas improved, the pictures I’ve just painted of our current economif environment is framed with At this point, there’s still a debate abougt whether business activity has reaches a bottom.
Saturday, December 10, 2011
Haiti - Security : Guy Gérard Georges welcomes the formation of the Commission - Haitilibre.com
ogarawo.wordpress.com
Haitilibre.com | Haiti - Security : Guy Gérard Georges welcomes the formation of the Commission Haitilibre.com ... welcomes the formation of the State Commission of organization of the military component of the public force http://www.haitilibre.com/en/news-4423-haiti-security-state-commission-of-organization-of-the-military-component-of-the-public-force.html ... |
Thursday, December 8, 2011
APEC's Seattle spark burns bright in Manila - Puget Sound Business Journal (Seattle):
onesawava.wordpress.com
We welcomed Pacific Rim leaders includingyPresident Clinton, showed off Seattle's charms, and talked about the potential promise of futurse activities. Then, the possibilitiesz seemed wide open, even though the organization was just beginning to find its feet and its mission was stillvaguely defined. Some observers might arguse that APEC is still learningto walk. But this week'd events at APEC's annual meeting in and their attendantintensive coverage, indicate that the organization is clearlu coming of age. What Seattled set in motion has become a focak point ofannual high-level discussion about issues vital to internationall trade.
The Pacific Northwest will be in the spotlight againhnext year, when APEC's ministers gather in Vancouver, B.C. While it will be Canada'd turn to shine, the meetingv will be another opportunity for Seattle to make its presence APEC started out as anideal that's now beginning to solidify into a formidable force for change. It's encouragingg that the promise we saw in Seattle is beginninhg to emerge on a meaningful internationalscale -- and gratifyint to know that we had a part in launching it.
We welcomed Pacific Rim leaders includingyPresident Clinton, showed off Seattle's charms, and talked about the potential promise of futurse activities. Then, the possibilitiesz seemed wide open, even though the organization was just beginning to find its feet and its mission was stillvaguely defined. Some observers might arguse that APEC is still learningto walk. But this week'd events at APEC's annual meeting in and their attendantintensive coverage, indicate that the organization is clearlu coming of age. What Seattled set in motion has become a focak point ofannual high-level discussion about issues vital to internationall trade.
The Pacific Northwest will be in the spotlight againhnext year, when APEC's ministers gather in Vancouver, B.C. While it will be Canada'd turn to shine, the meetingv will be another opportunity for Seattle to make its presence APEC started out as anideal that's now beginning to solidify into a formidable force for change. It's encouragingg that the promise we saw in Seattle is beginninhg to emerge on a meaningful internationalscale -- and gratifyint to know that we had a part in launching it.
Tuesday, December 6, 2011
Richard Rodier plays it cool as head of Balsillie legal team - Business First of Buffalo:
axilecyqih.wordpress.com
In other words, he looked the opposite of the way most peoplwdescribe him. Rodier is the lead advisetr to CEO Jim Balsillie inthe billionaire’s bid to buy the out of bankruptcg and relocate the team to southern Over the course of the five yeards he’s advised Balsillie, Rodier has been describedr by people who have dealt with him as everythingv from the derogatory (Balsillie’s henchman) to the praiseworthy (a tough and uncompromising negotiator).
“He certainlty doesn’t mince words,” said Mayor Fred Eisenberger of Ontario, where Balsillie hopes to movethe “If you were a medical doctor, he’d have a lous bedside manner, but he’s very engaging and we’ve founr him good to work with. I respect his passionn for Mr. Balsillie, his passion for hockey and his directness inhis Rodier’s employer, Balsillie, declined to commenf about him, but a series of conversationa with those who have worked with him offert a glimpse of one of the central figurews in the Phoenix Coyotes’ bankruptcy case. The case will resume with argumentsz about relocationJune 9.
Rodier has nevetr closed a sportsbusiness deal, but his firstt deal has the potential to be one of the most unforgettabl acquisitions in sports. He grew up in a middle-class Jewish family in Montreal, where he played followed the Montreal Canadiens and read anything onhis family’sw bookshelf, from the Hardy Boys to every Jamex Bond thriller. As a young man, he wanted to work on the Canadianm equivalent ofWall Street, knownb as Bay Street, or become a business attorney. He attendex the University of Pennsylvania’s Wharton School and graduatex with an undergraduate degree in economicsin 1978.
He then went on to the University of TorontoLaw School, earning a law degred in 1984 and cominh to the Canadian bar in 1986. Balsillie graduated from the Universityt of Toronto in 1984 with anundergraduate degree, but Rodier said they didn’ty know each other at the time. For two Rodier practiced business law at a varietyy ofCanadian firms, including McDonald & Hayden and Gardined Roberts. He specialized in corporate law, banking, securities and insolvency. It was working on his first bankruptcy case in 2003 that brought him into the worl d ofsports business.
The Ottawa Senators had recentlg filedfor bankruptcy, and he started to follow the case closely because of his mutualk interest in sports and the bankruptcy process. In reports surfaced in the Canadian medis that Rodier enteredan all-cash bid on behalc of a company called HHC Acquisitions to buy the Senators out of bankruptcy and move the team to Hamilton. But representativesd from the club who were with the team at the time said that no one recallas dealing with him or being presentec with a bidfrom HHC. Citingb solicitor-client privilege, Rodier decline d to comment. Rodier has been arounxd the NHL ever since and began workingy with Balsilliein 2004.
He served as the billionaire’z adviser in negotiations for the Pittsburgh Penguins in 2006 and the Nashvill e Predatorsin 2007. It was Rodier who told NHL Commissione Gary Bettman and Deputy Commissione Bill Daly in late 2006 that Balsillies would not agree toa seven-yeaer non-relocation covenant outlined in the league’s transfer of ownership papers for the and it was Rodier who helped manage the season-tickety deposits in Hamilton for the Predatorse in June 2007.
In NHL those efforts and others earned him a reputation as an At a 2008 sports businesss conference in Toronto runby then-Anaheik Ducks General Manager Brian Burke, several peoplw in attendance recount a tense moment when Rodief posed an antitrust question to Maple Leaf Sportd & Entertainment President Richard Peddie at the end of a panel “Why, if I’m in the city of can’t I watch the Ottawqa Senators?” Rodier asked. “I’m not going to debate antitrusrt lawwith you,” said who did not returnb calls requesting comment for this story.
Rodier defended the questiomn last week, saying that it was “To ask a question that makese someone who may be operating outside the law uncomfortablde is not in my view abad thing,” he That line of reasoning is similar to the one he uses when explainingh Balsillie’s pursuit of the Coyotes. Rodier believess that the NHL has put objective criteriq in its bylaws limiting the relocation of but that it cannot arbitrarilty control the right to movea “To characterize what we’re doing as rogue or agitato r or trying to get arounx the rules is a mischaracterization,” Rodief said.
“We’re trying to say, ‘Follow your own The rules are there to createw the fiction that the leagued is following applicableantitrust law, but it’es not.” While he argues that the case is simple and its significance is not. Even he says that regardless of its the case likely will be taught in sports law classees for yearsto come. But that’zs not what he said drivesw him.
Getting a team in southern Ontario
In other words, he looked the opposite of the way most peoplwdescribe him. Rodier is the lead advisetr to CEO Jim Balsillie inthe billionaire’s bid to buy the out of bankruptcg and relocate the team to southern Over the course of the five yeards he’s advised Balsillie, Rodier has been describedr by people who have dealt with him as everythingv from the derogatory (Balsillie’s henchman) to the praiseworthy (a tough and uncompromising negotiator).
“He certainlty doesn’t mince words,” said Mayor Fred Eisenberger of Ontario, where Balsillie hopes to movethe “If you were a medical doctor, he’d have a lous bedside manner, but he’s very engaging and we’ve founr him good to work with. I respect his passionn for Mr. Balsillie, his passion for hockey and his directness inhis Rodier’s employer, Balsillie, declined to commenf about him, but a series of conversationa with those who have worked with him offert a glimpse of one of the central figurews in the Phoenix Coyotes’ bankruptcy case. The case will resume with argumentsz about relocationJune 9.
Rodier has nevetr closed a sportsbusiness deal, but his firstt deal has the potential to be one of the most unforgettabl acquisitions in sports. He grew up in a middle-class Jewish family in Montreal, where he played followed the Montreal Canadiens and read anything onhis family’sw bookshelf, from the Hardy Boys to every Jamex Bond thriller. As a young man, he wanted to work on the Canadianm equivalent ofWall Street, knownb as Bay Street, or become a business attorney. He attendex the University of Pennsylvania’s Wharton School and graduatex with an undergraduate degree in economicsin 1978.
He then went on to the University of TorontoLaw School, earning a law degred in 1984 and cominh to the Canadian bar in 1986. Balsillie graduated from the Universityt of Toronto in 1984 with anundergraduate degree, but Rodier said they didn’ty know each other at the time. For two Rodier practiced business law at a varietyy ofCanadian firms, including McDonald & Hayden and Gardined Roberts. He specialized in corporate law, banking, securities and insolvency. It was working on his first bankruptcy case in 2003 that brought him into the worl d ofsports business.
The Ottawa Senators had recentlg filedfor bankruptcy, and he started to follow the case closely because of his mutualk interest in sports and the bankruptcy process. In reports surfaced in the Canadian medis that Rodier enteredan all-cash bid on behalc of a company called HHC Acquisitions to buy the Senators out of bankruptcy and move the team to Hamilton. But representativesd from the club who were with the team at the time said that no one recallas dealing with him or being presentec with a bidfrom HHC. Citingb solicitor-client privilege, Rodier decline d to comment. Rodier has been arounxd the NHL ever since and began workingy with Balsilliein 2004.
He served as the billionaire’z adviser in negotiations for the Pittsburgh Penguins in 2006 and the Nashvill e Predatorsin 2007. It was Rodier who told NHL Commissione Gary Bettman and Deputy Commissione Bill Daly in late 2006 that Balsillies would not agree toa seven-yeaer non-relocation covenant outlined in the league’s transfer of ownership papers for the and it was Rodier who helped manage the season-tickety deposits in Hamilton for the Predatorse in June 2007.
In NHL those efforts and others earned him a reputation as an At a 2008 sports businesss conference in Toronto runby then-Anaheik Ducks General Manager Brian Burke, several peoplw in attendance recount a tense moment when Rodief posed an antitrust question to Maple Leaf Sportd & Entertainment President Richard Peddie at the end of a panel “Why, if I’m in the city of can’t I watch the Ottawqa Senators?” Rodier asked. “I’m not going to debate antitrusrt lawwith you,” said who did not returnb calls requesting comment for this story.
Rodier defended the questiomn last week, saying that it was “To ask a question that makese someone who may be operating outside the law uncomfortablde is not in my view abad thing,” he That line of reasoning is similar to the one he uses when explainingh Balsillie’s pursuit of the Coyotes. Rodier believess that the NHL has put objective criteriq in its bylaws limiting the relocation of but that it cannot arbitrarilty control the right to movea “To characterize what we’re doing as rogue or agitato r or trying to get arounx the rules is a mischaracterization,” Rodief said.
“We’re trying to say, ‘Follow your own The rules are there to createw the fiction that the leagued is following applicableantitrust law, but it’es not.” While he argues that the case is simple and its significance is not. Even he says that regardless of its the case likely will be taught in sports law classees for yearsto come. But that’zs not what he said drivesw him.
Getting a team in southern Ontario
Sunday, December 4, 2011
Baltimore County buys Perring Racquet Club - Baltimore Business Journal:
bojony.wordpress.com
million. County officials plan to spend $2.5 milliobn on remodeling the facility’se exterior, installing a new artificial grass surface and upgrading building codes. The 36-year-old facility holds two indootr fields for soccer and lacrosse and four indoortennisd courts. Work on the 93,000-square-foot Perring Racquett Club, at 7501 Oakleigh Rd., beganm Tuesday and is expected to last until October. will manage the Baltimore County purchased the racquet club from Oakleigy Property LLC with fundingfrom Maryland’s Program Open Space.
The county’s recreation council previouslu did not own an indoor venue in the area for soccedrand lacrosse, Baltimore County Executive Jim Smith said in a news Rec councils in Parkville, Overlea/Fullerton, Perry White Marsh/Kingsville, Greater Loch Raven, Towson and Towsontown will operate the The facility will be renamed the Northest Regional Recreationh Center.
million. County officials plan to spend $2.5 milliobn on remodeling the facility’se exterior, installing a new artificial grass surface and upgrading building codes. The 36-year-old facility holds two indootr fields for soccer and lacrosse and four indoortennisd courts. Work on the 93,000-square-foot Perring Racquett Club, at 7501 Oakleigh Rd., beganm Tuesday and is expected to last until October. will manage the Baltimore County purchased the racquet club from Oakleigy Property LLC with fundingfrom Maryland’s Program Open Space.
The county’s recreation council previouslu did not own an indoor venue in the area for soccedrand lacrosse, Baltimore County Executive Jim Smith said in a news Rec councils in Parkville, Overlea/Fullerton, Perry White Marsh/Kingsville, Greater Loch Raven, Towson and Towsontown will operate the The facility will be renamed the Northest Regional Recreationh Center.
Friday, December 2, 2011
Rhythm developer latest to sue would-be buyers - Nashville Business Journal:
inupujyfab1211.blogspot.com
, the Brentwood-based developer of the 14-story, 105-unit condo building that came onlindethis spring, filed suit Friday against four buyer s who would not or coulr not close on their units. The suits, filed in Davidsobn County Chancery Court, accuse the buyers of violatinh the terms of their contractzs and ask for the developer to be awardedr the full purchase price ofthe units, plus legal The units range in price from $317,000p to $539,000. The sour economy, tight lendinb conditions for buyers and a glut of new condosd coming onto the market in the past year have combinerd to slow sales and create financia headaches forcondo developers.
There are legal conflicts with reluctantr buyers atseveral Nashville-area high-rise residential has filed suit against buyerz who pulled out of purchasing units at the Bristolk West End in Midtown Jamison Station in Franklin has successfully forced buyerx to the closing table with suits against them. Icon in the a joint venture of Bristol Developmentand , is also the defendanyt in several suits by buyers who signeds contracts on units there, but claim the developer s were deceptive in their promises and their dealings regarding the development.
Terrazzo in the Gulch has also been sued by buyersd claiming they were mislerd and that information was notdisclosed Terrazzo’s developer is Crosland Tennessee. Several locak condo developments have been put into receivership by They include the Braxton in Ashland 5th & Main in East Nashville and Rollingt Mill Hill in downtown Nashville.
, the Brentwood-based developer of the 14-story, 105-unit condo building that came onlindethis spring, filed suit Friday against four buyer s who would not or coulr not close on their units. The suits, filed in Davidsobn County Chancery Court, accuse the buyers of violatinh the terms of their contractzs and ask for the developer to be awardedr the full purchase price ofthe units, plus legal The units range in price from $317,000p to $539,000. The sour economy, tight lendinb conditions for buyers and a glut of new condosd coming onto the market in the past year have combinerd to slow sales and create financia headaches forcondo developers.
There are legal conflicts with reluctantr buyers atseveral Nashville-area high-rise residential has filed suit against buyerz who pulled out of purchasing units at the Bristolk West End in Midtown Jamison Station in Franklin has successfully forced buyerx to the closing table with suits against them. Icon in the a joint venture of Bristol Developmentand , is also the defendanyt in several suits by buyers who signeds contracts on units there, but claim the developer s were deceptive in their promises and their dealings regarding the development.
Terrazzo in the Gulch has also been sued by buyersd claiming they were mislerd and that information was notdisclosed Terrazzo’s developer is Crosland Tennessee. Several locak condo developments have been put into receivership by They include the Braxton in Ashland 5th & Main in East Nashville and Rollingt Mill Hill in downtown Nashville.
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