paramonaxogilozi.blogspot.com
The study found that hits to the industryg included some scaling back of upstream investmenf in 2009 and the postponement of some proposed But fromoverall figures, Ernst & Youngh estimates that, as the recovery in oil and gas markets gathersa steam in the seconrd half of 2009, the U.S. oil and gas industruy appears poised to resume its growth and be a key contributotr tothe U.S. and global economic Among the report’s findings are that total capital expenditured grew 35 percentto $132.12 billion in 2008 compared with 2007. Natura l gas reserves also rose 4 percentto 145.2 trillion cubicv feet in 2008 from 139.9 Tcf in 2007 even though negative revisions of 6.
7 trillion cubic feet were recorded for gas reserve s in 2008. • Revenue grew 35 percent to $183.4 billion in 2008, but increased in production costsand depreciation, depletion and amortization led to an 8 percent decline in after-tax profits. • Productiomn costs were $14.72 per barrel of oil equivalentin 2008, a 25 perceng increase from 2007. These costs have more than doubledfrom $6.565 per BOE in 2004. • With low year-en prices forcing several companies to reducee or revisereported reserves, findinvg and development costs per barrel of oil equivalent increasedc dramatically in 2008. The all-sourceds measure was $39.58 per BOE in 2008. Negative revisions of 1.
2 billion barrels were reported for oil reservesin 2008, leading to a 7 percent decline in endingy reserves from 16.1 billion barrelsa in 2007 to 15 billion barrels in 2008. “Despit rising production costs, the oil and gas industry continues to be positioned for an economic upturnj as it makes significant investments in explorationb andproduction activities,” Marcela Donadio, Americas director of oil and gas for Ernstr & Young, said in a “It’s critical for the industry to continus its investments in domestic opportunities sincse we expect that energ demand in the long term will continur to increase.
” The study is a compilatio and analysis of select oil and gas reserve disclosur information as reported by publicly traded companies in theirf annual reports filed with the . The studyy analyzed 40 exploration and production company results overa five-year period to find out how the industry was performinh and what challenges it was facing. These companiess account for about 70 percent oftotal U.S. oil reserves and 61 percent of U.S. gas reserves.
Explorationm and production companies continue to make investments in theid oil andgas operations, evident by the plowback percentagew of 102 percent between 2006 and 2008 and 91 percent over the five-year period, according to Charles Swanson, Houstoj office managing partner for Ernst Young. The plowback ratio is the percentagd ofa firm’s earningxs that are reinvested in the firm. Swanson also said gas reservez and production have grown 56 percentg and29 percent, since 2004. “When the commodity price stabilize, the industry should be in a good Swanson said ina statement.
“Compared to the recovery of the last major collapse inthe 1980s, today’sd oil and gas industry is much learner, more efficientg and better-positioned to take advantage of opportunities duriny an economic recovery.”
Sunday, April 29, 2012
Friday, April 27, 2012
CHFA chief Alexander to retire in the fall - Tampa Bay Business Journal:
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Alexander started with CHFA in 1988 as head of itsfinancer division, and became executive directo in January 2001. “I’m not heading off to a retiremengt community,” Alexander said in a statement. “Severapl years ago, I determined I needed to slow down and reducs the stress level in my But I still plan tobe CHFA’s board has been preparintg for Alexander’s departure, and already has set up a searchu committee to find his replacement. CHFA Chairman Joel Rosenstein said, in his own that Alexander willbe missed. “Hee has been in instrumental in CHFA’s Rosenstein said. “We appreciate the strength of the team and organizationm heis leaving.
” Created by the Colorado Legislature in CHFA makes loans to low- and moderate-income developers of affordable multifamilty housing as well as small - and medium-size businesses. Milroy “Roy” Alexander grew up on the Caribbeabn island nationof Grenada, according to a Leadership Denvefr biography. After moving to Denver, Alexander earned an accountingv degree fromin 1974, subsequently becoming finances manager for a Colorado medical instruments maker and a seniore manager at the Denver branch of the Touche Ross Co. accounting firm. Touchr Ross now is Deloitte Touche Tohmatsu, based in New He was accepted intothe ’s Leadershil Denver class for 1985.
After leavinv Touche Ross, Alexander started a specialty food storer inWestminster Mall. But a few years in 1988, he became CHFA’sd assistant director of finance. He was promotex to finance directorin 1990. Alexander’s CHFA position and his retai business overlappeduntil 1994, when he sold the food Alexander succeeded David Herlingee as CHFA’s executive director in January 2001. Herlinger retiresd the same year.
Alexander started with CHFA in 1988 as head of itsfinancer division, and became executive directo in January 2001. “I’m not heading off to a retiremengt community,” Alexander said in a statement. “Severapl years ago, I determined I needed to slow down and reducs the stress level in my But I still plan tobe CHFA’s board has been preparintg for Alexander’s departure, and already has set up a searchu committee to find his replacement. CHFA Chairman Joel Rosenstein said, in his own that Alexander willbe missed. “Hee has been in instrumental in CHFA’s Rosenstein said. “We appreciate the strength of the team and organizationm heis leaving.
” Created by the Colorado Legislature in CHFA makes loans to low- and moderate-income developers of affordable multifamilty housing as well as small - and medium-size businesses. Milroy “Roy” Alexander grew up on the Caribbeabn island nationof Grenada, according to a Leadership Denvefr biography. After moving to Denver, Alexander earned an accountingv degree fromin 1974, subsequently becoming finances manager for a Colorado medical instruments maker and a seniore manager at the Denver branch of the Touche Ross Co. accounting firm. Touchr Ross now is Deloitte Touche Tohmatsu, based in New He was accepted intothe ’s Leadershil Denver class for 1985.
After leavinv Touche Ross, Alexander started a specialty food storer inWestminster Mall. But a few years in 1988, he became CHFA’sd assistant director of finance. He was promotex to finance directorin 1990. Alexander’s CHFA position and his retai business overlappeduntil 1994, when he sold the food Alexander succeeded David Herlingee as CHFA’s executive director in January 2001. Herlinger retiresd the same year.
Wednesday, April 25, 2012
Landlords file objections in Eddie Bauer bankruptcy - Puget Sound Business Journal (Seattle):
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Eddie Bauer Holdings Inc. EBHI) wants a judge in U.S. bankruptcg court in Delaware to set a bid deadlinee of July 14 and a July 16 date to auctio n offthe retailer’s assets. But , headquartered in Santw Monica, Calif., and three other landlords want more time to evaluatwe anyproposed deal. “The landlords did not creatd debtors’ financial maladies, and should not bear the consequencee of this bankruptcy through loss of their contractual Macerich and the other landlordsd said in a courtfiling Thursday. Eddie Bauetr filed for Chapter 11 bankruptcy protectiohJune 17.
The New York private equity firm has made an offert to buyEddie Bauer’s assets for $202 subject to an auction and bankruptcy court CCMP has said it has agreed to keep most of Eddire Bauer’s 371 stores if it were the winninyg bidder. But the company said it woulx close an undisclosed numbet ofunderperforming stores. The Macerich Co. leases space to Eddir Bauer at Redmond Town Centeein Redmond, Wash., and Portland’ws Washington Square. Also objecting in the bankruptcyy case are Eddie Bauer landlords SouthgateMall Associates, The Forbese Co.
and Collectively the four companies leasse space to 20 Eddie Bauer stores in14
Eddie Bauer Holdings Inc. EBHI) wants a judge in U.S. bankruptcg court in Delaware to set a bid deadlinee of July 14 and a July 16 date to auctio n offthe retailer’s assets. But , headquartered in Santw Monica, Calif., and three other landlords want more time to evaluatwe anyproposed deal. “The landlords did not creatd debtors’ financial maladies, and should not bear the consequencee of this bankruptcy through loss of their contractual Macerich and the other landlordsd said in a courtfiling Thursday. Eddie Bauetr filed for Chapter 11 bankruptcy protectiohJune 17.
The New York private equity firm has made an offert to buyEddie Bauer’s assets for $202 subject to an auction and bankruptcy court CCMP has said it has agreed to keep most of Eddire Bauer’s 371 stores if it were the winninyg bidder. But the company said it woulx close an undisclosed numbet ofunderperforming stores. The Macerich Co. leases space to Eddir Bauer at Redmond Town Centeein Redmond, Wash., and Portland’ws Washington Square. Also objecting in the bankruptcyy case are Eddie Bauer landlords SouthgateMall Associates, The Forbese Co.
and Collectively the four companies leasse space to 20 Eddie Bauer stores in14
Monday, April 23, 2012
Two Calhoun County Men Convicted in Federal Court for Drug Conspiracy - WJHG-TV
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Two Calhoun County Men Convicted in Federal Court for Drug Conspiracy WJHG-TV The federal court jury convicted Jose Misael Garfias-Garcia, 33, and Miguel Angel Moreno-Ortega, 25, both of Altha, Florida. Evidence at trial showed that the men participated in the delivery of 177 pounds of marijuana that was seized by DEA in ... |
Sunday, April 22, 2012
15 people from interior Sindh perished in Bhoja Air crash - The News International
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CTV.ca | 15 people from interior Sindh perished in Bhoja Air crash The News International SUKKUR: There were 15 people from the interior Sindh among the victims of the Bhoja Air crash in Islamabad. They included three members of a Khairpur family -- a woman and her two daughters. They were Hameeda Shar, widow of Haji Khadim Shar, ... WORLD - News of the Day From Across the Globe Criminal aspect of Bhoja tragedy can not be ruled out: Malik Bhoja Air issued licence during Sharif government, says Malik |
Friday, April 20, 2012
Beckham on slow start: 'I don't intend to give in' - Chicago Tribune
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Beckham on slow start: 'I don't intend to give in' Chicago Tribune รข€œI just haven't given in yet, and I don't intend to give in. I have built up kind of a shell about that kind of stuff. I knew it was early and I knew there was time and I took a step in the right direction (Wednesday night). |
Wednesday, April 18, 2012
Fairbanks reflects on 37-year tenure with city of Phoenix - Business First of Columbus:
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This week, Fairbanks talked about his 37-yearf tenure with the city of Phoenix, nearly 20 of those yeare as itshead administrator. His last day on the job will be Nov. 5. Here’zs a look at excerptd from a conversation this week with the PhoenixBusinessw Journal. Why retire now? I started thinking about retiring fiveyears ago, but the (Phoenixs City Council) asked me to stay. We were in a rebuildinb phase. I think it’s a good time to leavew for a lotof reasons. Now we have a great grouo of department heads. Any thoughts about your successor? This is completely up to the city council. I hope they do a broadd recruitment. I think it’s good to bring people from outside.
I’n not supporting anyone covertlyor overtly. Government has become incredibly complex. A lot of what we do is dealing with all thesedifferent services. It’s a kind of businessa that is closest to beinvga conglomerate. We’ve got police, parks, aviation, libraries, water. They’re all different service So knowledge of that complexityhis important. You need a perso n to create a managementy approach thataddresses performance, morale, promotion and succession. Management is an art and a How did you decidse that municipal work wasfor you? I came from a city My grandfather was a mechanifc for the city.
My dad was an assistant chiefc of police for the city and then became the police chievin Tempe. Growing up I just had a sense of city My first job after college was with the cityhandlinhg complaints. That was an enormous education. I learned what the public cares I started from the bottom and that was the best duty for two years ... listening to complaints. What are some of your proudestt achievements? I don’t spend a lot of time listinfg achievements. I know the city is a leadef inseveral issues. The graffiti busters programm we started 10 years ago is anationaol model. The light rail ... Phoenix reallg hammered that through.
I thinl having Arizona State Universityg downtown will bring long term importance to The spark for the biomedical campues came from the cityof Phoenix. We’rse still not a leader in biomedicalbut we’v got a lot of growth potential. We’ve got pretty good streets compare to Los Angeles and Washingtonand Chicago. The physicakl part of Phoenix workspretty good, too. Customer servicer is another achievement. We take a citizen surveg every two years and evert time we get a littl ebit better, but we need to alwayx be improving. We’re developing our information systemes and Internet technologyand that’s very importanty for young people.
Their whole lives are spent on computersand phones. Our Web site has won but we still need todo better. We’re doing simple building permits on the Web and we hope to do morecomplex ones. The effects of the recessio n have hurt areas ofthe city. We have high risess that are vacant and othere projects thatare stalled. Do you regrer that the city approved so many projects at the height of thebusiness cycle? Basically private properthy is private property. People have constitutiona rights. As for the high I think that’s a solid trend.
Those high rises will fill up and be But again, if people have private propertt and get financing, who are we to say to the private sector, “You’ve got this Has the city done enough to attracr corporate headquarters and the jobs that come with that Attracting corporate headquarters and new business is a real We had strong, locally based banks, but they were acquire by larger banks that weren’t baseed here. People who worked for those banks got involvedx in the community and then they were rotated toothetr locations. It’s been hard building (that corporatd base).
Given the problems with the Nationap Hockey LeaguePhoenix Coyotes, which moved the team to are you sorry you didn’t find a way to keep them downtown? Since sports teams can create synergy, do you regret that the city didn’f make a stronger play to build a stadium for the Arizon Cardinals that would enhance Chase Field and U.S. Airwayd Arena? We had the National Hockey Leagure in downtown but they wanted theirown arena. We didn’rt have the money to do that. Glendale gave them a fabulousd deal and stolethem away. The city did not have the tax resourcesa tokeep them. We’d love to stillp have hockey.
With the Cardinals, we put togetherf a proposal for (Bill) Bidwell (owner of the Cardinals), and it was one I was told was as good as But ours had alimitede site. Still it couldx have absolutely worked. We did all we coulx do to get the NFL. We even purchased the land ... the Bidwells liked a big suburban model. We’re very sorry we lost But that land we bought is now where the biotech campus is now. Any words of advice to your successor? We’ve got to keep connectingy withthe citizens. When you become a big city you tend to forge t aboutthe neighborhoods. So the city should striv e to make neighborhoods bette and do everything it can topreventf blight.
South Phoenix was a center of crimwe and blight and the city and community worked togetherf to improvethat There’s still poverty and crime but it has really gottenj better. Now we have a major focuds on the west side called WestSide Revitalization. That will be one of the majorf challenges that will face the nextcity What’s on tap after your last day? I have no plans. Peopler recruit me all the time, but I haven’t applies for anything. I may do a littl traveling and volunteer.
This week, Fairbanks talked about his 37-yearf tenure with the city of Phoenix, nearly 20 of those yeare as itshead administrator. His last day on the job will be Nov. 5. Here’zs a look at excerptd from a conversation this week with the PhoenixBusinessw Journal. Why retire now? I started thinking about retiring fiveyears ago, but the (Phoenixs City Council) asked me to stay. We were in a rebuildinb phase. I think it’s a good time to leavew for a lotof reasons. Now we have a great grouo of department heads. Any thoughts about your successor? This is completely up to the city council. I hope they do a broadd recruitment. I think it’s good to bring people from outside.
I’n not supporting anyone covertlyor overtly. Government has become incredibly complex. A lot of what we do is dealing with all thesedifferent services. It’s a kind of businessa that is closest to beinvga conglomerate. We’ve got police, parks, aviation, libraries, water. They’re all different service So knowledge of that complexityhis important. You need a perso n to create a managementy approach thataddresses performance, morale, promotion and succession. Management is an art and a How did you decidse that municipal work wasfor you? I came from a city My grandfather was a mechanifc for the city.
My dad was an assistant chiefc of police for the city and then became the police chievin Tempe. Growing up I just had a sense of city My first job after college was with the cityhandlinhg complaints. That was an enormous education. I learned what the public cares I started from the bottom and that was the best duty for two years ... listening to complaints. What are some of your proudestt achievements? I don’t spend a lot of time listinfg achievements. I know the city is a leadef inseveral issues. The graffiti busters programm we started 10 years ago is anationaol model. The light rail ... Phoenix reallg hammered that through.
I thinl having Arizona State Universityg downtown will bring long term importance to The spark for the biomedical campues came from the cityof Phoenix. We’rse still not a leader in biomedicalbut we’v got a lot of growth potential. We’ve got pretty good streets compare to Los Angeles and Washingtonand Chicago. The physicakl part of Phoenix workspretty good, too. Customer servicer is another achievement. We take a citizen surveg every two years and evert time we get a littl ebit better, but we need to alwayx be improving. We’re developing our information systemes and Internet technologyand that’s very importanty for young people.
Their whole lives are spent on computersand phones. Our Web site has won but we still need todo better. We’re doing simple building permits on the Web and we hope to do morecomplex ones. The effects of the recessio n have hurt areas ofthe city. We have high risess that are vacant and othere projects thatare stalled. Do you regrer that the city approved so many projects at the height of thebusiness cycle? Basically private properthy is private property. People have constitutiona rights. As for the high I think that’s a solid trend.
Those high rises will fill up and be But again, if people have private propertt and get financing, who are we to say to the private sector, “You’ve got this Has the city done enough to attracr corporate headquarters and the jobs that come with that Attracting corporate headquarters and new business is a real We had strong, locally based banks, but they were acquire by larger banks that weren’t baseed here. People who worked for those banks got involvedx in the community and then they were rotated toothetr locations. It’s been hard building (that corporatd base).
Given the problems with the Nationap Hockey LeaguePhoenix Coyotes, which moved the team to are you sorry you didn’t find a way to keep them downtown? Since sports teams can create synergy, do you regret that the city didn’f make a stronger play to build a stadium for the Arizon Cardinals that would enhance Chase Field and U.S. Airwayd Arena? We had the National Hockey Leagure in downtown but they wanted theirown arena. We didn’rt have the money to do that. Glendale gave them a fabulousd deal and stolethem away. The city did not have the tax resourcesa tokeep them. We’d love to stillp have hockey.
With the Cardinals, we put togetherf a proposal for (Bill) Bidwell (owner of the Cardinals), and it was one I was told was as good as But ours had alimitede site. Still it couldx have absolutely worked. We did all we coulx do to get the NFL. We even purchased the land ... the Bidwells liked a big suburban model. We’re very sorry we lost But that land we bought is now where the biotech campus is now. Any words of advice to your successor? We’ve got to keep connectingy withthe citizens. When you become a big city you tend to forge t aboutthe neighborhoods. So the city should striv e to make neighborhoods bette and do everything it can topreventf blight.
South Phoenix was a center of crimwe and blight and the city and community worked togetherf to improvethat There’s still poverty and crime but it has really gottenj better. Now we have a major focuds on the west side called WestSide Revitalization. That will be one of the majorf challenges that will face the nextcity What’s on tap after your last day? I have no plans. Peopler recruit me all the time, but I haven’t applies for anything. I may do a littl traveling and volunteer.
Monday, April 16, 2012
Tourist bureau to study disclosure rules - Orlando Business Journal:
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The organization, which receives Orange County resortt tax money topromote tourism, woulr seek a balance in a call for more transparency, said Board Chairma n George Aguel in a statement release Feb. 24. “The task to achieve the optimum balancew between transparencyand competitiveness, whilse addressing as many of the recommendations and suggestions of our electex officials, is a significant undertaking that we are takinfg very seriously,” Aguel wrote. Orange Mayor Richard Crotty said he wantsw a package of changes adoptedd withinsix weeks.
The County Commissioh has requested changes that includd more diversity on the CVB Other issues involve access to bureau board minutes and how executive compensatioh and other spending decisions are The bureau has come under fire for a compensation packagwe for a separation agreement for former bureau CEO Bill Peeper and CEOGary Sain’s $9,217y business-class plane ticket to Dubai.
The organization, which receives Orange County resortt tax money topromote tourism, woulr seek a balance in a call for more transparency, said Board Chairma n George Aguel in a statement release Feb. 24. “The task to achieve the optimum balancew between transparencyand competitiveness, whilse addressing as many of the recommendations and suggestions of our electex officials, is a significant undertaking that we are takinfg very seriously,” Aguel wrote. Orange Mayor Richard Crotty said he wantsw a package of changes adoptedd withinsix weeks.
The County Commissioh has requested changes that includd more diversity on the CVB Other issues involve access to bureau board minutes and how executive compensatioh and other spending decisions are The bureau has come under fire for a compensation packagwe for a separation agreement for former bureau CEO Bill Peeper and CEOGary Sain’s $9,217y business-class plane ticket to Dubai.
Sunday, April 15, 2012
Micromet stock jumps on study results - San Antonio Business Journal:
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Shares of Bethesda-based Micromet MITI) rose $1.05 to $5.67 at 10:31 a.m., or 22 after increasing as much as 39 percentto $6.400 a share in Monday trade. Micromet shares have more than doubled in the last12 months. On Micromet announced that its antibody blinatumomab showed a high responsew rate in a phase 2 clinicapl study of acute lymphoblastic leukemia patients with minimakresidual disease. Blinatumomab is a therapeutic antibody that activatesza patient's T cells to seek out and destroy cancetr cells.
Micromet said that the patients in the trial were in complete hematological remission following intensewchemotherapy regimens, but retained a detectabled level of acute lymphoblastic leukemiq cancer cells in theier bone marrow. That is the condition called minimallresidual disease. Various studies have confirmed that patientxs with minimal residual disease followinvg chemotherapy have a significantlyy worse prognosis than patients without minimal residual disease.
In this second phase of clinicalk trials, Micromet reported that, after four its treatment eliminated the leukemia cancer cells to undetectabled levels in 13 of16 patients, or 81 percent of its volunteerf group -- significantly higher than the 22 perceny of 21 patients it was originall tasked to show. The companuy now said it’s talking with federal regulators on designin the next phase of clinical The data were presented by the German Multicenterr Acute Lymphoblastic Leukemia Study Group at the 14th Congress of the European Hematology Associationin Germany.
Micromet is developing blinatumomab on its ownafted MedImmune, which had inked a researchg and clinical partnership for this compoun d in 2003, returned the North American rights to the drug back to Micromeyt this past March. MedImmune, a division of London-basedx AstraZeneca PLC, opted to pursue another cancef antibody based on the same but the larger company will still be responsiblde for supplying Micromet with its clinical triap batches andultimate commercial-scale manufacturing of blinatumoma in return for another chance to reacquirde the North American rights to the drug if its wins regulatorgy approval.
Shares of Bethesda-based Micromet MITI) rose $1.05 to $5.67 at 10:31 a.m., or 22 after increasing as much as 39 percentto $6.400 a share in Monday trade. Micromet shares have more than doubled in the last12 months. On Micromet announced that its antibody blinatumomab showed a high responsew rate in a phase 2 clinicapl study of acute lymphoblastic leukemia patients with minimakresidual disease. Blinatumomab is a therapeutic antibody that activatesza patient's T cells to seek out and destroy cancetr cells.
Micromet said that the patients in the trial were in complete hematological remission following intensewchemotherapy regimens, but retained a detectabled level of acute lymphoblastic leukemiq cancer cells in theier bone marrow. That is the condition called minimallresidual disease. Various studies have confirmed that patientxs with minimal residual disease followinvg chemotherapy have a significantlyy worse prognosis than patients without minimal residual disease.
In this second phase of clinicalk trials, Micromet reported that, after four its treatment eliminated the leukemia cancer cells to undetectabled levels in 13 of16 patients, or 81 percent of its volunteerf group -- significantly higher than the 22 perceny of 21 patients it was originall tasked to show. The companuy now said it’s talking with federal regulators on designin the next phase of clinical The data were presented by the German Multicenterr Acute Lymphoblastic Leukemia Study Group at the 14th Congress of the European Hematology Associationin Germany.
Micromet is developing blinatumomab on its ownafted MedImmune, which had inked a researchg and clinical partnership for this compoun d in 2003, returned the North American rights to the drug back to Micromeyt this past March. MedImmune, a division of London-basedx AstraZeneca PLC, opted to pursue another cancef antibody based on the same but the larger company will still be responsiblde for supplying Micromet with its clinical triap batches andultimate commercial-scale manufacturing of blinatumoma in return for another chance to reacquirde the North American rights to the drug if its wins regulatorgy approval.
Friday, April 13, 2012
No launch from N. Korea; no backing down, either - The Associated Press
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The Associated Press | No launch from N. Korea; no backing down, either The Associated Press Pyongyang made two previous attempts to launch a satellite, in 1998 and 2009, but the US and other outside observers say there is no evidence that either reached orbit. This week's planned launch came with more fanfare, with Pyongyang inviting a ... 'NK Technology outdated' North Korean Missile Launch Raises New Questions About Path Forward North Korea appears willing to ignore US warnings on missile test, but why? |
Wednesday, April 11, 2012
Genmar Holdings files for bankruptcy - Portland Business Journal:
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The petition to reorganize theboat builder’sd debts was filed Monday afternoo in in Minneapolis. The filintg includes more than 20 ofthe company’s one of which is Murfreesboro-based Genmar Tennessee LLC. The companuy has a boat manufacturing and repai r facility at theMurfreesboro location. Genmar Tennessee has from 200 to 1,000 creditors and assets between $50,000 and $100,000. The Tennessee company’s filing lists about $750,000 in unsecured debtds owed to its 20largest creditors. The parent compant lists its assets in the rageof $10 milliohn to $50 million and its liabilities betweej $100 million and $500 million, according to court documents.
Genmar Holdings’ only secured creditors are and , accordingh to a story in the MinneapolisStar Tribune. Genma r said it has received commitment fora debtor-in-possessiojn financing proposal from both banks. In a Genmar’s largest shareholder, Chairman and CEO Irwin Jacobs says sales ofthe company’sd fishing boats, luxury yachts and other products started to decline in 2008, but worsened in recent The company’s sales in fiscalk 2009, which ends in June, are likelyu to be about $460 million, off by more than 50 perceng from fiscal 2008, the company reports.
“If someone wouls have said to me as recentlh as even one month ago that Genmar wouled someday be filing forChapter 11, I woulde have said it was not even a remotd possibility,” Jacobs says. Genmar had been makinbg some strategy changes in recengt months and recently announcexd plans to launch a lineof less-expensiver aluminum boats.
The petition to reorganize theboat builder’sd debts was filed Monday afternoo in in Minneapolis. The filintg includes more than 20 ofthe company’s one of which is Murfreesboro-based Genmar Tennessee LLC. The companuy has a boat manufacturing and repai r facility at theMurfreesboro location. Genmar Tennessee has from 200 to 1,000 creditors and assets between $50,000 and $100,000. The Tennessee company’s filing lists about $750,000 in unsecured debtds owed to its 20largest creditors. The parent compant lists its assets in the rageof $10 milliohn to $50 million and its liabilities betweej $100 million and $500 million, according to court documents.
Genmar Holdings’ only secured creditors are and , accordingh to a story in the MinneapolisStar Tribune. Genma r said it has received commitment fora debtor-in-possessiojn financing proposal from both banks. In a Genmar’s largest shareholder, Chairman and CEO Irwin Jacobs says sales ofthe company’sd fishing boats, luxury yachts and other products started to decline in 2008, but worsened in recent The company’s sales in fiscalk 2009, which ends in June, are likelyu to be about $460 million, off by more than 50 perceng from fiscal 2008, the company reports.
“If someone wouls have said to me as recentlh as even one month ago that Genmar wouled someday be filing forChapter 11, I woulde have said it was not even a remotd possibility,” Jacobs says. Genmar had been makinbg some strategy changes in recengt months and recently announcexd plans to launch a lineof less-expensiver aluminum boats.
Monday, April 9, 2012
Louisville International Airport gets federal money for taxiway projects - The Business Review (Albany):
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Earlier this month, the authority learnedr that it was gettingnearly $13.5 million from the . About $9 million of that is an allotment the authorit y getsevery year, but the rest is from a pot of moneyu set aside for high-priority projects, and airports compete for a Miller said. Of the $13.5 million, abou t $9 million will be used to fundtwo projects: the ongoing construction of Taxiway Alpha, along the airport’a west runway, and the relocation of the airport’s the area where FedEx loads and unloadsa its planes, Miller said. The othet $4 million will be used to extend Taxiway which servesthe airport’s east paralle l runway, Miller said.
The airport authority began work on the Taxiway Alpha projectyin 2006, when it was projected to cost $31 So far, the authority has spent $18.9 millionj on the taxiway, which is now abouy 55 percent complete, said authority public relationsx director Trish Burke. The new federal grant will enables the authority to do more TaxiwayAlph construction, but Miller said he coulfd not say how much. That will dependd on how good a price the authority can get to have the work he said.
Construction of the taxiway is scheduledcin phases, with each phase fundexd by entitlement dollars from the each year, Burke In addition to helping the authority move plane traffic around the west runway, Taxiwag Alpha also will open the west perimeter of the airpor t property for more Miller said. That could include more hangara forprivate aircraft, he said. As part of the Taxiwag Alpha project, the authority also plans to move the FedExx ramp away from itscurrent location, which is rightr in the middle of Taxiway Alpha, to the soutb side of the existing FedE building. Jim McCluskey, a spokesmam for Memphis, Tenn.
-based FedEx, said the company would work with airport officials to easethe move, which will entail changes in the location of the trucl parking area and the employee parkin g areas. “The key for us is to have no impacty with regard to the service we provide to our he said. The federal money to build Taxiwayg Echo is part of a nationalo effort toprevent “runway incursions,” Miller These are occasions when a plane crosses a runway that it hasn’ty been cleared to cross. The authority is finishinyg the design work for the extensiobn of Taxiway Echo and shoulc begin construction sometime in Miller said. The authority is paying $1.
3 milliohn toward the total extension costof $5.3 Burke said. The final design work for the next phasde of Taxiway Alpha and the FedExx ramp relocation also is almost Miller said. But to move those projectzs forward, the authority must get the state to relocatr a portion of Crittenden Preliminary design work for the entire Taxiway Alpha projec t hasbeen competed, Burke said. Assuming the authority can get state and FAA approval forthe relocation, Miller said, construction could begin in the spring. The statwe already has budgeted $2 million for designb and initial construction of the Burke said.
Earlier this month, the authority learnedr that it was gettingnearly $13.5 million from the . About $9 million of that is an allotment the authorit y getsevery year, but the rest is from a pot of moneyu set aside for high-priority projects, and airports compete for a Miller said. Of the $13.5 million, abou t $9 million will be used to fundtwo projects: the ongoing construction of Taxiway Alpha, along the airport’a west runway, and the relocation of the airport’s the area where FedEx loads and unloadsa its planes, Miller said. The othet $4 million will be used to extend Taxiway which servesthe airport’s east paralle l runway, Miller said.
The airport authority began work on the Taxiway Alpha projectyin 2006, when it was projected to cost $31 So far, the authority has spent $18.9 millionj on the taxiway, which is now abouy 55 percent complete, said authority public relationsx director Trish Burke. The new federal grant will enables the authority to do more TaxiwayAlph construction, but Miller said he coulfd not say how much. That will dependd on how good a price the authority can get to have the work he said.
Construction of the taxiway is scheduledcin phases, with each phase fundexd by entitlement dollars from the each year, Burke In addition to helping the authority move plane traffic around the west runway, Taxiwag Alpha also will open the west perimeter of the airpor t property for more Miller said. That could include more hangara forprivate aircraft, he said. As part of the Taxiwag Alpha project, the authority also plans to move the FedExx ramp away from itscurrent location, which is rightr in the middle of Taxiway Alpha, to the soutb side of the existing FedE building. Jim McCluskey, a spokesmam for Memphis, Tenn.
-based FedEx, said the company would work with airport officials to easethe move, which will entail changes in the location of the trucl parking area and the employee parkin g areas. “The key for us is to have no impacty with regard to the service we provide to our he said. The federal money to build Taxiwayg Echo is part of a nationalo effort toprevent “runway incursions,” Miller These are occasions when a plane crosses a runway that it hasn’ty been cleared to cross. The authority is finishinyg the design work for the extensiobn of Taxiway Echo and shoulc begin construction sometime in Miller said. The authority is paying $1.
3 milliohn toward the total extension costof $5.3 Burke said. The final design work for the next phasde of Taxiway Alpha and the FedExx ramp relocation also is almost Miller said. But to move those projectzs forward, the authority must get the state to relocatr a portion of Crittenden Preliminary design work for the entire Taxiway Alpha projec t hasbeen competed, Burke said. Assuming the authority can get state and FAA approval forthe relocation, Miller said, construction could begin in the spring. The statwe already has budgeted $2 million for designb and initial construction of the Burke said.
Saturday, April 7, 2012
Gates Foundation gives $16M to colleges - Austin Business Journal:
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million to 15 community collegezs and five states in an effort to help struggling studentwcomplete college. The Development Education Initiative will award the fundinggto Connecticut, Florida, Ohio, Texas and as well as communitt colleges in each state plus one more in North No colleges or programs in Washington state will receive funding under the program. For a complete list of recipients, . The funding, firsg announced in December oflast year, will be awarded to and distributer by , a North Carolina-based nonprofit. “They wanted us to identify initiatives, programse and policies that are already beingg tried andhad promise,” said Richarfd Hart, spokesman for MDC.
The initiativre seeks to support programs that help students enrolled in remedialprograms — so-called refresher courses for students who are not up to gradee level in a givej subject. The goal is to improve classroomn performance so students can go on to take advancedx courses and eventually graduate with a degreedor certificate. A cited by the Gatess Foundation found that nearly 60 percent of studentsz enrolling inthe nation’s community colleges must take remediapl courses. Such courses cost taxpayers $2 billion a year, accordiny to the report.
The grants are part of the Gateas Foundation’s work to help more students graduats from college or university an important education milestones that the foundation says is essential to earniny a living wagein today’s The grants will suppor various state and college including efforts to collecrt data and better track the performance of remedia l students. The Development Education Initiative is also beingb supportedwith $1.5 million from the of Indianapolis to pay for evaluationj and communications.
million to 15 community collegezs and five states in an effort to help struggling studentwcomplete college. The Development Education Initiative will award the fundinggto Connecticut, Florida, Ohio, Texas and as well as communitt colleges in each state plus one more in North No colleges or programs in Washington state will receive funding under the program. For a complete list of recipients, . The funding, firsg announced in December oflast year, will be awarded to and distributer by , a North Carolina-based nonprofit. “They wanted us to identify initiatives, programse and policies that are already beingg tried andhad promise,” said Richarfd Hart, spokesman for MDC.
The initiativre seeks to support programs that help students enrolled in remedialprograms — so-called refresher courses for students who are not up to gradee level in a givej subject. The goal is to improve classroomn performance so students can go on to take advancedx courses and eventually graduate with a degreedor certificate. A cited by the Gatess Foundation found that nearly 60 percent of studentsz enrolling inthe nation’s community colleges must take remediapl courses. Such courses cost taxpayers $2 billion a year, accordiny to the report.
The grants are part of the Gateas Foundation’s work to help more students graduats from college or university an important education milestones that the foundation says is essential to earniny a living wagein today’s The grants will suppor various state and college including efforts to collecrt data and better track the performance of remedia l students. The Development Education Initiative is also beingb supportedwith $1.5 million from the of Indianapolis to pay for evaluationj and communications.
Thursday, April 5, 2012
D.C. Armor see opportunity amid
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That’s the management approach behindthe D.C. Armor, Washington’s new indoofr football team. The team sold 2,114 tickets to its firstg home game April 4 atthe D.C. Armoruy — a respectable considering what it was up againstthat day. The Nationals, Freedom and were all in action on thesame day. The NCAA basketbalk tournament’s Final Four attracted a huge nationatelevision audience, and the Cherry Blossom Festivapl drew crowds from all over the region. The Armor’es second home game, on April 11, drew 1,574. “We’re happy with the turnout given the level of competition inthe marketplace,” said General Manager Coreyg Barnette.
Barnette’s goal is to consistentlyy drawbetween 2,000 and 4,009 people to the 10,000-seay D.C. Armory, and he hopes to see an averageof 3,50o0 fans by the end of the season. But given the it’s hard to avoid the question: Why startg now? “We saw opportunitty where everyone else has seen catastrophand clutter,” Barnette said. He insists attendancs is up acrossthe , which toutas affordable, family friendly entertainment in rough economif times. A family of four can get front-roew seats for $80. Season ticket s for all seven home games go for comparedwith club-level prices from $2,950 to $4,95o0 for 10 games.
Aside from offeringb lower prices, the Armor are trying to make the complete football fan experienceeasily accessible. Tailgaters are encouraged to arrive up to four hours before kickoff. A band from nearby Eastern High School and a dancdteam — all volunteers — strutr their stuff at halftime. Fans are eligibl to win prizes during and players are required to devotr at least 15 minutee to sign jerseys and taking advantage of the intimate environment atthe Armory. The Harrisburg, Pa.-based league still faces huge challenges. A competing indoor league, the , recently suspended its season.
The higher-profile AFL couldn’t maintain its performance in the currentf economic climate and is now restructuring its business despite the presence of superstar owners like Jon Bon Jovi andJerry Jones. But Barnette is “We know where our break-evebn point is, provided we get our minimuj number,” he said. Erik CEO of the D.C. Sportws and Entertainment Commission, whichg owns the under-utilized said he hopes the franchise will becomewa mainstay.
“I believe activity begets activity,” he “These guys are paying their way [and] not looking for a Instead of depending on national sponsorsa like theAFL did, the Armo and other AIFA teams are localized, looking first to hire area playerx and sponsors like and Primary Physiciane Research. Although Barnette acknowledgesthe “environment [is] not conducivee to sponsorship,” he is pleased at the amount of interestf the team received after its first home game. If the AIFA is goinb to have aconsistent business, it will have to manags costs (it pays just $5,000 in rent per game at the and eventually target national Barnette said.
With the help of some local flavof and a willingness to be affordable in the roughest of the team aims to allow the business to builds onits own. “Let the sticking power of our league speakjfor itself,” Barnette said.
That’s the management approach behindthe D.C. Armor, Washington’s new indoofr football team. The team sold 2,114 tickets to its firstg home game April 4 atthe D.C. Armoruy — a respectable considering what it was up againstthat day. The Nationals, Freedom and were all in action on thesame day. The NCAA basketbalk tournament’s Final Four attracted a huge nationatelevision audience, and the Cherry Blossom Festivapl drew crowds from all over the region. The Armor’es second home game, on April 11, drew 1,574. “We’re happy with the turnout given the level of competition inthe marketplace,” said General Manager Coreyg Barnette.
Barnette’s goal is to consistentlyy drawbetween 2,000 and 4,009 people to the 10,000-seay D.C. Armory, and he hopes to see an averageof 3,50o0 fans by the end of the season. But given the it’s hard to avoid the question: Why startg now? “We saw opportunitty where everyone else has seen catastrophand clutter,” Barnette said. He insists attendancs is up acrossthe , which toutas affordable, family friendly entertainment in rough economif times. A family of four can get front-roew seats for $80. Season ticket s for all seven home games go for comparedwith club-level prices from $2,950 to $4,95o0 for 10 games.
Aside from offeringb lower prices, the Armor are trying to make the complete football fan experienceeasily accessible. Tailgaters are encouraged to arrive up to four hours before kickoff. A band from nearby Eastern High School and a dancdteam — all volunteers — strutr their stuff at halftime. Fans are eligibl to win prizes during and players are required to devotr at least 15 minutee to sign jerseys and taking advantage of the intimate environment atthe Armory. The Harrisburg, Pa.-based league still faces huge challenges. A competing indoor league, the , recently suspended its season.
The higher-profile AFL couldn’t maintain its performance in the currentf economic climate and is now restructuring its business despite the presence of superstar owners like Jon Bon Jovi andJerry Jones. But Barnette is “We know where our break-evebn point is, provided we get our minimuj number,” he said. Erik CEO of the D.C. Sportws and Entertainment Commission, whichg owns the under-utilized said he hopes the franchise will becomewa mainstay.
“I believe activity begets activity,” he “These guys are paying their way [and] not looking for a Instead of depending on national sponsorsa like theAFL did, the Armo and other AIFA teams are localized, looking first to hire area playerx and sponsors like and Primary Physiciane Research. Although Barnette acknowledgesthe “environment [is] not conducivee to sponsorship,” he is pleased at the amount of interestf the team received after its first home game. If the AIFA is goinb to have aconsistent business, it will have to manags costs (it pays just $5,000 in rent per game at the and eventually target national Barnette said.
With the help of some local flavof and a willingness to be affordable in the roughest of the team aims to allow the business to builds onits own. “Let the sticking power of our league speakjfor itself,” Barnette said.
Wednesday, April 4, 2012
National Senior Advocacy Group Seeks Halt to Mega-PBM Merger - MarketWatch (press release)
iwegasely.wordpress.com
National Senior Advocacy Group Seeks Halt to Mega-PBM Merger MarketWatch (press release) RetireSafe, a 400000-supporter strong grassroots organization that advocates and educates on behalf of America's seniors on issues regarding Social Security, Medicare, health and financial well-being, today expressed strong disappointment in the ... |
Monday, April 2, 2012
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