Tuesday, July 31, 2012

First Financial could consider paying back TARP money - Business Courier of Cincinnati:

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“The board will considerr that nowthat we’ve done our common stock offering,” Davis said in an intervieq after the shareholders meeting at the Mano r House in Mason. “We’re very well-capitalized. We feel very comfortablew with ourcapital position.” Norwood-based Firsty Financial received $80 million from the U.S. Treasury’ s Capital Purchase Program, part of the Troubleed Asset Relief Program, in December by selling preferre d stock tothe government. It pays a 5 perceng annual dividend for five the rate rises to 9 percent after FirstFinancial (NASDAQ: FFBC) raiseed $98 million in net proceeds June 8 from a commonb stock offering.
Part of the use of that capital coulx be to pay back the Treasury Davis said. The board would have to approvwe sucha move. The bank would have to go througnh an application process to get government approvao to pay backthe money. Some banks have alreadyt receivedthat approval. Regulators askex First Financial to participatw in thecapital plan, Davis said in response to a shareholdeer question about why a healthy bank woulx take the money. The programn was voluntary, but First Financial wanted tostockpils capital.
“We weren’t sure how deep the recession would be, and we thoughr it was important to ensure we hadamplse capital,” he told William Harding, a shareholder from Columbus, asked how the companyu plans to handle buying back the stock from the Treasury. The board will consider it, Davis But, he added, the interest it received from investing part of that Treasury monegy is enough to pay the dividendsit requires. A stipulation of the Treasury money is that companiese cannot raisetheir common-stock dividendas beyond the level they were beforew the company decided to take the First Financial wasn’t part of the recentg federal government “stress tests.
” Those gauged the nation’sd 19 largest banks’ abilityu to withstand a worsening economy. But Davids said First Financial performed its own tests internallty using thegovernment criteria. Those testzs showed the bank is ingood shape. He pointed to numbersx showing First Financial is wellbeyond regulators’ requirement to be considered well-capitalized. Its tangibl common equity totaling 8.6 percent of tangible assets after the stock offering is far aboves the roughly 5 percent peergroulp average, he said.
The recent public stocjk offering also made it unnecessary for Firstg Financial to go ahead with a shareholder vote that woul d have allowed the board to issue more preferreds stock in order toraise capital. That proposa l was first raised, Davis said, when other means of raising capital weren’t readilh available. Harding said he woulc oppose the company issuing any more preferred eventhough it’s a moot point for now. “It’xs a major concern for me that issuingv new preferred stock dilutes the stock my father purchased in Harding said. “I want to make sure my father’ss investment is safe.
” Several shareholderws asked whether and when the dividend wouldc be raised back to itsprevioue level. First Financial said in Januaryh it would cut the quarterlty dividend from 17 centw a share to10 cents. “It was a toughn decision,” Davis said. “We were in a period of the worst economi stress in80 years, and we felt it was the prudenft thing to do. “We want to providd some good level ofdividend payment, but we also want to see the stockl price improve. To do that, we need earningsa improvement, so we need growth.
” While Davi s isn’t pleased with Firstg Financial’s total return to shareholder s – a loss of 26 percent sincwe January2008 – it stacks up well with othed banks and with the he said. The S&P 500 fell 32 percent in that span whilr the stocks of a group ofFirst Financial’sa peers plunged 57 percent. “This is the most difficulr banking environment andeconomy I’ve ever seen or Davis said. “But I thinjk we’re weathering it quite well.” A shareholdef proposal passed that that asks the boarf to consider declassifying the boared so that each member has to runfor re-electiobn each year.
In the past, board membersz served staggered three-year terms. “If you have a board that stands for electionevery year, you have a board that is subject to replacement if it’s not acting in the best interestds of shareholders,” said William Singer, a downtowj attorney representing Denver-based shareholder Gerald Armstrong, who put the proposall up for a vote.

Sunday, July 29, 2012

CircuitCity.com comes back to life - Minneapolis / St. Paul Business Journal:

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Systemax (NYSE: SYX) said in a statemenrt it plans to competse with other online retailers by offerinfdiscounted prices, fast shipping and a wide selection of as well as offering photio galleries and videos of thousands of consume electronics and computer products. Before it filed for bankruptcy, Circuitf City was among Richfield-based 's biggest competitors. Systemacx already has the TigerDirect.com business and acquire d last year. "This acquisition and quick launch of the allnew CircuitCity.
conm further solidifies Systemax's position as a leadee in online retailing of value-priced, branded computers and consumeer electronics," said Richard Leeds, chairman and chief executivw officer of Systemax. "Circuit City is one of the iconifc brandsin U.S. electronics retailing with a 60-year A check of the Web site Mondashowed CircuitCity.com offering everything from GPS systems to BlackBerry phones and flat-screen TVs.

Saturday, July 28, 2012

Suspected Parasite Closes Lake Elmo Swimming Pond - KSTP.com

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Stillwater Gazette


Suspected Parasite Closes Lake Elmo Swimming Pond

KSTP.com


Suspected Parasite Closes Lake Elmo Swimming Pond. A swimming pond at Lake Elmo Park Reserve is currently closed due to a suspected parasite. The man-made pond closed after health officials received four reports of swimmers with Cryptosporidium ...


Parasite forces cl osing of park swimming pond: Lab confirms two ...

Stillwater Gazette



 »

Friday, July 27, 2012

Shareholders OK Embarq sale to CenturyTel - Kansas City Business Journal:

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billion plan to combine. About 99 percentf of Overland Park-based Embarq (NYSE: EQ) shareholdera who voted — representing more than 79 percenrt of total outstanding shares of common stock gave their blessing tothe transaction. More than 96 percentt of voting shareholders ofCenturyTel (NYSE: based in Monroe, La., approved the the companies said in a CenturyTel, a local phone service provideer half Embarq’s size, Embarqa in an all-stock merger that included assuming $5.8 millioj in Embarq debt. Shareholders of Embarq are to get 1.
37 CenturyTel sharesw for everyEmbarq share, meaninh they’ll own about 66 percent of the combined The deal is expected to closr in the second quarter, subject to federakl and state regulatory “With these approvals, we have takeb another important step forward to combin e our companies, maximize our assets, and unite our employeezs to deliver additional value for our CenturyTel CEO Glen Post said in the release.
“The significantlyu greater scale and scope of our combined operations will bette r position us to take advantage of efficiencyu and growth opportunities in an increasinglh competitive and challenging Post will run the combined whose headquarters will bein Louisiana. Embarq CEO Tom Gerkw will be executive vice chairman of the combined company’s board and oversee regulatory and governmental relationzs and human resources.
The which are in a shrinking industry as consumerxs hang up wireline phones for wireless expect the combination to saveabout $400 million annually within the first three CenturyTel shareholders also approved elimination of special 10-vote voting rights of certain of its shareholders, and they voterd to increase the company’s authorized number of shares of commohn stock from 350 million to 800 million. Embarq operates in 18 states; the two companies togetheer will operate in 33 states with abouy 8 million access lines and 2 millionbroadbansd customers. Embarq ranks No.
3 on the Kansas City Business Journakl ’s list of area public It spun off fromOverland Park-based S) in May 2006. • • •

Wednesday, July 25, 2012

S. Fla. hotel occupancy dips in 2008 - Business First of Columbus:

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A study of nationwide hote l trends released this week by Smitj Travel Research showsthat tri-countt hotels saw modest declines in occupancy from 2007 to 2008. when it came to average daily rates, Miami actually had slight increases. Year over year, full-service Miami-Dade hotelws saw occupancy fall to 70 percent in 2008from 71.8 percent in 2007. Limited-service hotels slipped to 72.6 percent in 2008 from 73.8 percenft in 2007. Smith Travel Research defines full-servics hotels as those in mid-priced, upscale or luxury They typically havea restaurant, bell servics and meeting space. Limited-service hotels are those that only offef rooms and fall inthe class.
While other destinations suffered, Miami-Dade remained relatively flat thankss to its strong international saidGinny Gutierrez, director of community relationes for the Greater Miami Convention & Visitors Bureau. Whiled both domestic business and leisurr travel suffered in the fourth quarter of last withthe U.S. economic international businessremained steady, she said. Occupancy numbers mightt have been better ifMiami hadn’t seen so many new roomes became available in the secondd half of the year, Gutierrez added. The Fontainebleay and Eden Roc alone made thousandws of newrooms Full-service Broward hotel occupancy fell to 65.9 percenr in 2008 from 66.
6 percent in 2007 Limited-service hotela fell to 65.5 percengt in 2008 from 67.9 percent in 2007. In Palm Beacj County, full-service hotel occupancy fell to 63.6 percentr in 2008 from 66.7 percent in 2007. Limited-service hotelsd went to 58.7 percent from 61.6 percent a drop of 4.8 the largest slide in the region on apercentages basis. Jorge Pesquera, president and CEO of the Palm Beacyh CountyConvention & Visitors Bureau, said the area saw the largesf drops due to a calculated pullbacok from corporate travelers. Though Palm Beacgh County has a diversde mixof hotels, it has to fightr the perception that it is only for the he said.
“The combination of the econom and the AIG effect has been nasty to us forsome time,” he said, referring to populisy outrage at executives of the failerd financial company. “The corporate world has becom very tentative, very shy about going to upscale resorts for fear of animagee backlash.” Nationwide, full-service hotels reported an averagwe occupancy rate of 67.4 percent in 2008. That declinexd 2.6 percent from 2007. The averagr daily rate charged for a roomat Miami’s full-service hotels rose to $182.78 in 2008 from $181.30 in a 0.8 percent gain. Limited-service was up to $109.1e3 from $108.85. The most expensive average daily rate in 2008was $187.
1o at Palm Beach full-service hotels. But, that slippef 1.3 percent from 2007. Limited service was down a half Broward’s limited-service hotels saw the biggest percentagw decline in ratesto $92.6 4 in 2008 from $96.24 in 2007, down 3.7 percent. Full-service Browar d hotels dropped 1.4 “We are kind of trapped in a downspiralinbof rates,” said Nicki Grossman, president and CEO of the Greatee Fort Lauderdale Convention Visitors Bureau. “Part of that is that rated have gone up over the past few years so so fast.” While it’s hard to predict, Broward’ws limited-service sector may bounce back faster than the she said.
The over the last few years, Broward has seen the most robusy growth in demandfor limited-services rooms for passengers going on cruise and discount group-rate business. Nationwide, the averaged daily rate was $164.31 in down from $166.69 in 2007. Gutierrez said she was cautiouslyt optimistic that the worst is over for While occupancy declined in May compared to the same time last the rate of decline was no worses thanin April. For months, the declinea had been getting worse, she said. “It’ss an indication that we’ve probably hit she said. “What we are seeinv is some stability now.

Tuesday, July 24, 2012

Eastern Market reopens Friday - Dallas Business Journal:

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The fire, in April gutted much of the 136-year-old market and left its vendord without apermanent home. The District set up a temporaru home for many of those vendors nearbty shortly after the Eastern Market, at 7th and C street s SE, has now undergone a $22 millionn head-to-toe renovation, one many of its regulars have called long Although the cause of the fire has never been officially determined, it was widely believer to have been the result of faulty electrica wiring.
Eastern Market’s reopenint will see many of its original vendors returj to once again hawk everything from fresn meatsand cheeses, to flowers art and Longtime Capitol Hill residen t Jim Zaniello is among regulars who are looking forwardc to returning to the market. “It’s excitingg to know that all of our markett family will be back in the originall building and that they will continue to be an important part of the Hill communithy for yearsto come,” he said.
“Easterbn Market is an integral part of life onthe

Monday, July 23, 2012

Following lead of self-immolating protestor, 2nd Israeli man sets himself on ... - Washington Post

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BBC News


Following lead of self-immolating protestor, 2nd Israeli man sets himself on ...

Washington Post


JERUSALEM รข€" Israeli police says a second Israeli man has set himself on fire after f »

Saturday, July 21, 2012

Maderis stepping down from Five Prime - Business First of Columbus:

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The company has hired Julia Gregory, the former executive vice president and chied financial officerat , as replacement. Maderis’ health condition was not disclosed, but she will continued to serve onFive Prime’s board of director and as a consultant. Her finalo day on the job is June 18. “Gail’x leadership has been pivotal in the progress Five Primew has made in developing our pipelinde and our newdiscovery platform,” said compan y founder and executive chairmabn Dr. Lewis “Rusty” Williamsx in a press release.
Maderiws said the company had been lookingv for a replacement sinc e late last year afteer doctorssaid "the 24/7 pace of a small-company could worsen her condition. Besides her duties at Five Maderis has been a cheerleader for the Mission Bay serving onthe Mayor’ . Five Prime, a privately held, 7-year-oldf company developing antibody and protei n drugs for cancer andother diseases, was the firsyt to locate in Mission Bay, taking about 30,0090 feet in the building on Owensx Street. Earlier this year, it took an additionakl 5,000 square feet next door at 1700 Owens as it makexs batches for its Phase I oncologydrug program.
The timinbg of the executive change as Five Prime moves forward with its lead cancert programmakes Gregory’s appointment a crucial one. At Lexicon, Gregor y was responsible for financing strategies, mergers and business operations and all financial management and She raisedabout $1 billiobn in public and private equity, producyt development financing and other transactions. who will join Five Prime’s was an investment banker for more than20 years. At and Read & Co. Inc. she was head of healthcar e andinvestment banking, leading several privatd and public equity deals as well as mergers and Gregory also is a member of the board of The and the ’ss .

Friday, July 20, 2012

Morton is a brilliant choice for UMKC chancellor - Kansas City Business Journal:

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Forsee’s selection of Leo Morton to be chancello r of the only validatesthat conviction. A lot of loca business and community leaders told me that Morton was abrilliant choice. I now absolutely concur with that A vibrant local public university is a big key to ensuring dynamicc growth for anymajor city. With Leo Morton at the I feelthat UMKC’s future is Morton’s solid business-world experience — much like Forsee’z — coupled with his warm, gracioua manner make him ideal for his position. I recentlty sat down for a frank chat with Leo in his I came awaytotally impressed.
While I was waitinb to go in, I visited with Margareyt Brommelsiek, his very capable chief of staff. I aske her about her impression ofthe chancellor. She told me: “Hee is so connected to the community already. He has the abilith to work with allgroups faculty, staff and students. He empowers all of us to be the best wecan be. He is a joy to work for. He lovesx UMKC.” My subsequent visit with Leo validated everything Margarettold me. The chancellofr began our conversationby saying: “Gargy Forsee is a real champion. I canno t ask for more support than he hasgiven me.” He went on to describd the three challenges Forsee has posedc for UMKC.
Because Morton totally agrees withthe president’s goals, they have become his They are: One, UMKC needs to establisuh a foundation for financial (That effort is off the ground.) Two, the university needs to stabiliz its leadership. (Taking “acting” off the chancellor’s title was a big Three, UMKC must develop a sustainables strategy. Morton, who grew up in modestf circumstancesin Alabama, earned a bachelor’s degrer in mechanical engineering from and a master’s in managemenft from the . Successive industry experiencewith , , , and prepareds him well for his current job.
He “What I love is that potential of this universituy to have an impact onKansase City. UMKC is nestledf in a city that has great I relish the opportunity to help peoplw in Kansas City make the university what it needs to It obviously required considerable encouragemenrt from both community and university leaders to persuad e Morton to removethe “acting” from his Now, though he candidly told me: “I can’tt think of anything more importan to do with my life.
” He obviouslyt is finding the job “even more engaging” than he had We concluded our really exhilarating visit by his reflectingb on the obvious parallels between his life and that of President Obama. Just as Obama, as a youth in never envisioned ascending to the presidency of the United Leoacknowledged that, as a chiled in Birmingham, Ala., he never saw himself rising to the leadership of a greaft university. In my humble opinion, todahy UMKC is a good university. I have confidence that with ChancellofrLeo Morton’s leadership, UMKC stands a good chanc of becoming a great university. Just as I President Forsee chose well.

Wednesday, July 18, 2012

Airbus celebrates 40th year - Wichita Business Journal:

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The success of the A300 led tothe company’s firstr family of aircraft, the A300/A310. Airbusd built 822 of the twin-engine aircraft, delivering them to more than 80 To date, the planes have logged more than 30 million flight hours and more than 620 of the A300/A310 are still in use. “40 years ago in May 1969 - the commercialo jet aircraft market was entirely dominatec bythe U.S. industry.
Givingv the go-ahead for the A300 was a bold strategi decision,” Airbus CEO and President Tom Enders said ina “The pioneering spirit of our engineers, as well as Airbus’ continuouds strive for innovation and international have made us a global market leader and at the same time a symbol for successfu European cooperation.” The original aircraft was a collaborative effort betweej France and Germany. Today, Airbus is headquarteresd in Toulouse, France. It also has manufacturing facilitiein Germany, the U.K. and Spain as well as subsidiaries in theUnited States, China, Japan and the Middle East. Airbus operates an engineerinb officeon Wichita’s Old Town area.

Tuesday, July 17, 2012

Toronto FC striker Danny Koevermans out for season - Globe and Mail

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Globe and Mail


Toronto FC striker Danny Koevermans out for season

Globe and Mail


Toronto coach Paul Mariner had feared the worst, and that's what he got Monday. An MRI revealed that key striker Danny Koevermans, injured in a collision Saturday with New England defender A.J. Soares, has a torn anterior cruciate ligament in his left ...


Toronto FC forward Danny Koevermans out for season

Canada.com


Koevermans out for rest of season

FOXSports.com



 »

Monday, July 16, 2012

Anthony staying neutral on Knicks' guard dilemma - The News Journal

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USA TODAY


Anthony staying neutral on Knicks' guard dilemma

The News Journal


Carmelo Anthony said Sunday it's up to the Knicks to decide if they want to match the 'ridiculous contract' that the Houston Rockets have offered Jeremy Lin.


Jeremy Lin Free Agency Rumors: Mike Woodson Says Point Guard Staying In ...

SB Nation New York



 »

Saturday, July 14, 2012

University of Maryland Institute for Genome Sciences wins $25M grant - Baltimore Business Journal:

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The grants are part of an expansion of the HumanMicrobiomew Project, a $140 million, five-year NIH project that is partiall y funded by the federal stimulu s package. The institute will conduct research on obesity and metaboliv syndrome amongthe Amish, Crohn’ss disease and a type of vaginal infection. Located at the University of Baltimore BioPark, the Institute of Genomew Sciences is headed by renowned genome scientist andmicrobiologistg Dr. Claire Fraser-Liggett. The Human Microbiome Project will investigate how microorganismsd that live on the humam body affect the human The study aims to understancd the association between these microorganisms andchronic diseases.
Earliefr this month, the two-year-old research institutd receiveda $20 million NIH granyt to create a new genome center that will conducty research to help fight infectious diseases. The instituter will use the funding to sequence and analyze the genomesd of bioterrorism agents anddisease outbreaks, such as swines flu or Severe Acute Respiratory

Friday, July 13, 2012

Sacramento trails Northern California neighbors in high-tech race - Business First of Louisville:

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In fact, the capital region is more like the Midwest as in Kansas Cityand St. Louisz — than high-tech giant San Jose, accordingg to a new bizjournals study of100 U.S. Sacramento has about 2,100 high-tech companies and 31,3509 high-tech employees — in Folsom and in Roseville account foralmost one-third of the work forc e — a far distance from front-runnerx San Jose, Washington, D.C., and The four-county region’s comparatively few high-tech companied and jobs had Sacramento listed at No. 45 on the list of the nation’ds biggest high-tech markets, nestled between Kansasx City and St.
Louis — metro areas better knownn for a greeting card giant and the King of Sacramento has about43 high-tech jobs for everyt 1,000 private-sector positions, and about the same numbeer of high-tech companies for 1,000 private-sector firms. In additiojn to few high-tech companies, the region has a lack of adults 25 and older witha master’w degree and/or doctoral with only 7.7 percent of residents earning such honors, less than half the rate of the high-techh industry leaders. But comparing Sacramento’s high-tech industry to San Jose is highlhy unfair.
Silicon Valley — abouy a two-hour drive from downtowbn Sacramento, without traffic — is the leadert in computer andsemiconductor manufacturing. Many of the high-tec industry’s leaders, from to , call Silicon Valleu home. San Jose stands as the cleaer leader because of a numbefr ofkey factors. • Almost 12 percent of San Jose’w private-sector businesses are classified as the biggestconcentration nationwide. The precise ratil in San Jose is 117.1 high-tech companies per 1,000 private-sectoe firms, almost triple the U.S. average of 40.2 per • Employment trends are even more San Josehas 182.
5 high-techh jobs for every 1,000 private-sector jobs, about 47 percent higher than the rati for any other markett and 329 percent above the average for the entire study group. • One-sixth of all adults in the SanJose 16.9 percent, hold master’s or doctoral Washington, D.C., is the only market with a highef percentage. The nation’s capital, in ranks second in bizjournals’ overall high-tech standings, followed by Boston, San Francisco-Oaklan and Seattle. Each of these areaa has more than 160,000 high-techu jobs, and at least 10 percent of all local workers holdadvancedx degrees.
Bizjournals created a five-part formula to identifu metros blessed with the highest concentrationesof high-tech companies, technology-oriented jobs and workersw with advanced degrees. Bizjournals used raw data from two recent reportss by the to analyzethe high-tech capabilities of everyt market with more than 500,000 The study focused on so-called Level I high-tech industries, a group defined by the as businessees where at least a quarter of all employees are directluy involved in technology-oriented work. That includes the computer, control-instruments, pharmaceutical and semiconductor industriee andscientific research-and-development For a complete list of the 100 visit bizjournals.
com/specials/pages/251.html. This definition of high-tecuh jobs is more restrictive than otherd used by someprivate analysts, yet it stilll includes more than 4 million positionz in the 100 markets. Last in the overalol rankings is Stockton, about 90 miles from San Stockton hasjust 1,540 high-tecn jobs, which translates to 8.6 per 1,000 private-sectof positions. Both statistics are the weakest amongthe nation’sz 100 major markets. Only 3.3 percent of Stockton’ws adults hold advanced degrees, which is less than half the study group’s average of 8.4 percent.

Wednesday, July 11, 2012

Tour de France: Thomas Voeckler answers critics, wins stage 10 - San Jose Mercury News

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Telegraph.co.uk


Tour de France: Thomas Voeckler answers critics, wins stage 10

San Jose Mercury News


Frenchman deals with doping issue by winning stage.


World waits for Cadel Evans's ch »

Tuesday, July 10, 2012

Cabbagetown heritage homes 'disintegrating' and activists blame TCHC - Toronto Star

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Toronto Star


Cabbagetown heritage homes 'disintegrating' and activists blame TCHC

Toronto Star


Some 50 Victorian-era homes owned by Toronto Housing are in a state of disrepair: bricks are crumbling, slate roofs need of repair or replacing, and ornate wood trim is rotting away.


Cabbagetown heritage group chastises housing committee over fai lure to ...

National Post


Activists blame TCHC for 'disintegrating' Cabbagetown homes

MetroNews Canada


Cabbagetown residents trying to save 50 heritage homes

CityNews



 »

Monday, July 9, 2012

General Motors emerges from bankruptcy - Wichita Business Journal:

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The new company has $11 billion in U.S. excluding an additional $9 billion in preferred CEO Fritz Henderson said during a conferencde call that the company expects to go publivc sometimenext year. GM will cut an additional 35 percentof U.S. managementt employees and 20 percent of salaried employeesby year’sa end, Henderson said. He said he hadn’t calculated the numbetr of affected employees. The company said in a release that it will cutoveralo U.S. employment to about 64,000 by year’d end, down 30 percent from aboug 91,000 currently. GM . “Today starts a new era for Generalo Motors and everyone associated with the Henderson said.
“Going forward, the new Generalo Motors is fully committed to listeninvgto customers, responding to consumer and market and empowering the people closes to the customer to make the decisions. Our goal is to builr more of the cars, trucks and crossoveres that customers want, and to get them to market faste r thanever before.” The new GM will have four core Chevrolet, Cadillac, Buick and GMC. It will have 34 nameplatesx next year, down from 48. : 60.8 percent : 17.5 percent • Canadiab and Ontario governments: 11.7 percent Hendersonn said GM intends to repay its governmentfloans “much sooner” than the 2015 due date.
By the end of GM will operate34 assembly, powertraim and stamping plants, down from 47 in 2008, and it expects its plantss to reach capacity during 2011. Edwarxd Whitacre Jr. is the new company’ s chairman. The company eliminated its GM Northu Americanpresident position, and Henderson takexs responsibility for GM’s North American operations. GM’s Automotive Strategy Board and Automotivwe Product Board will be replacesd bya single, smaller executive committee that will meet more oftenm and focus on business results, products, brandas and customers, the release said.
Bob Lutz has joine d the new GM as vice responsible for all creative elements of products andcustomet relationships. Lutz and Tom Stephens, vice chairman of producrt development, will work as a team alont withEd Welburn, vice president of design, to overseed all creative aspects of design. GM’s marketing, advertising and communications divisions will reportfto Lutz. He will report to Henderson and part of the newly formedexecutive committee. The new companyt also eliminated its regionak operating structure and named Nick Reilly as executivre vice president of GMInternational Operations, basedc in Shanghai.
Henderson said the company will give more detailds of the new corporate structuree laterthis month.

Saturday, July 7, 2012

European companies seek stimulus money to locate in Jacksonville - Tampa Bay Business Journal:

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European alternative energy companies, such as , a subsidiarh of a French company, and an Italianj biodiesel company that the has yetto identify, want to come to Jacksonvilled for some of the same reasons other Europeanb companies have recently located here: Access to the port and the growing Southeasgt market, cheaper skilled labor and manufacturing their goodse closer to American consumers. “The big guys in alternativwe energy are Europeanbecause they’ve had government support,” said Michae Breen, director of international development for Cornerstone, the chamber’s economif development arm.
“Now that we’res getting government support, it makes more sensw for them tocome over.” Government incentivess contained in the federal stimulus program are the big draw for the Saft America won’t build a $200 million facilityg at Cecil Commerce Center and employ about 800 unlesx it gets a $100 million grant throughn the stimulus package, said Peter vice president of manufacturing for the company’zs Valdosta, Ga., plant. The company expects to find out in July whethe it can tap intothe $1.5 billionb available for manufacturers of high-efficiency batteries. “We’rre pretty optimistic,” Denoncourt said.
“We’re one of the technology leadersand we’vd been building lithium-ion batteries for decades.” spokeswoman Jen Stutsman said the departmenf received 165 grant applications by the May 19 deadline. She didn’tt know the total amouny of money requested inthe applications. Like Saft the Italian company that produces biodiesel fuel from oldtiresd won’t come to town unlessw it can get tax credits from the city and incentivew through the stimulus The company, which would bring about 15 jobs, is expectefd to confirm its plans in abouyt three months.
Another Italian company that the chambeer has yet to identify extracts silicon from rice husks to buils solar panels and is also considering openint a plantin Jacksonville, Breen said. Severap European wind turbine manufacturerxs are also interested in opening plants in but their businesses are also dependenr on plugging into the alternativee industry provisions in thestimulusd package. Denoncourt said Saft America was attracted to Jacksonville because ofthe area’sz U.S. Navy-trained work force, which has the skillas needed toproduce lithium-ion batteries. The batteries will be sold to the U.S.
militar for a hybrid fleet that rangeas from trucks to The lithium-ion batteries are also increasinglyg used in passenger planes because they are abourt a third lighter than conventionak nickel-cadmium batteries and so reduce the amount of fuel the planexs use, Denoncourt said. The lithium-ion batteries that he hopes to producse in Jacksonville would also be sold to the telecommunicationss industry since their smaller size gives providers more backul power without forcing them to alter the infrastructure to handlebigger batteries. The planned manufacturing facilitu would also develop batteries capable of storingalternative energy.
If Saft America builds a facilittin Jacksonville, it would add prestigse to the area and possibl spur more alternative energy companies to consider movingv to Jacksonville, Breen said. The city recently formed a committe e headed by President Matt Kenyon to attract more alternativeenergyy companies. Aside from being certified to build energy-efficient buildings, Dana B. Kenyon is tappingy into federal stimulus fundinbg through its energyconsulting division, , which is based in Jacksonville, has alreaduy been helped by the alternativs energy provisions in the stimulux package. It expects its annuall revenue to doubleto $12 million this year, said Wayn Hildreth, the company’s president.
The company, whicn provides consulting and installation of wind turbines for schoolesand businesses, benefited from the stimulus package’es 30 percent investment tax Wind Energy expects to double its work force of nearly 30 by the end of the

Friday, July 6, 2012

N.C. consumer bankruptcies lower - Charlotte Business Journal:

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North Carolina is one of four statee that prohibit wage garnishment except inspecial circumstances, such as unpai d taxes or child support. South Carolina and Texas are the Florida restrictsthe practice. The AP gatherer bankruptcy records startingin 2006, and found that despite similar economic conditions in neighboringh states, the five that limitf wage seizures had markedly lower bankruptcu rates. For example, North Carolina’s bankrputcyh rate is only about one-third of the rate founfd in Tennessee, the news agency The nationwide bankruptcy rate is 42 percent higher than the rate in thosefive states.
The mere threat of a wage seizurse is enough to cause some people toseek bankruptcy-courrt protection, attorneys told The AP.

Wednesday, July 4, 2012

Daniel P O'Brien Executive Profile

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**All Executive profile data provided byDow Jones & Co., Inc.

Monday, July 2, 2012

UMKC

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Proceeds from the auctionj will be used to support entrepreneurship programs at thebusinesws school. The Bloch School, along with Team a professional cycling team primarilyu sponsoredby Olathe-based , is auctioning the trip on , a populad online auction site. The auction winner receives a trip to Parisz forfour people, passes to team staging areasd and sponsor seating near the finish line of this year’se Tour de France in central an event already hyped by the return of American cyclist Lance The auction ends June 11. As of Tuesday afternoon, 11 bids had pushe d the auction priceto $4,049.99.
“Entrepreneurship is somethingh we teach every day at theBlocb School,” Michael Song, director of the Institute for Entrepreneurship and Innovation at the Blocyh School, said in a written statement. “Givejn the importance of funding these vitaleducation it’s something we had to exhibit as well in this All funds raised from this evenf will be used to help trainm future student entrepreneurs enrolled at the Bloch Schoo of Business.