stages-paddocks.blogspot.com
, the Warsaw-based parent company of , would like to returm its $37.5 million in TARP (troubled assetas relief program) funds to the federal government beforew the end ofthe year, said President and CEO Peterf Humphrey. The banking company accepted the money late last year in exchangde for selling senior preferred shares tothe “The rules have changed (and) that makes this less attractive, so Five Star Bank is thinking maybe we ought to pay this back and get out from underneathb the program,” Humphrey said. “We’re exploring, ‘How do we pay back TARP whilr still having an ample amounrt of capital to support futuregrowthu initiatives?
’ ” The bank has no definitive plans in place to return the money, but Humphreyt is eager to get out of the federap program due to retroactive changes to the initialo Capital Purchase Plan agreement, including limits on executived compensation that deny the payment of cash incentives to employees untill TARP funds are repaid.
Tuesday, August 30, 2011
Sunday, August 28, 2011
Audit shows surplus decline at Pinnacol - Business First of Louisville:
iwibacibem.wordpress.com
According to the recent audit from Deloitte & Touche LLP, which lawmakers reviewed Monday, the decrease is related to losses on bondz and common stocks. Pinnacol’s reserves were a source of scrutiny earlierf this year when Colorado legislatore attempted toraid $500 million from the insurefr to plug gaps in the state budget. Lawmakers argued that because Pinnacol is a politicak subdivision ofthe state, its reserves were fair But legislators later retreated from the raid after Pinnacol’s CEO threateneed to sue the statse and Gov.
Bill Ritter indicated he would not support the A special committee will lookinto Pinnacol’s operationsw under Senate Bill 281, approved by lawmakerds and Ritter during the most recent Generao Assembly. Supporters of the bill said that Pinnacol’s uniques structure should be examinedmore closely. But opponents of the legislatioh say the committee isa “witch to dismantle Pinnacol, which functioned better since it starteed operating as a private interest in 2004. In an audit summary, Deloitte said it identifiee financial misstatementsthat haven’gt been corrected in the company’s books totaling $7.
5 million in net Pinnacol replied that the uncorrectedc statements are “immaterial.” Pinnacolp reported a total of $2 billion in assets in 2008. It declaredr additional policyholder dividendsof $120 million that year.
According to the recent audit from Deloitte & Touche LLP, which lawmakers reviewed Monday, the decrease is related to losses on bondz and common stocks. Pinnacol’s reserves were a source of scrutiny earlierf this year when Colorado legislatore attempted toraid $500 million from the insurefr to plug gaps in the state budget. Lawmakers argued that because Pinnacol is a politicak subdivision ofthe state, its reserves were fair But legislators later retreated from the raid after Pinnacol’s CEO threateneed to sue the statse and Gov.
Bill Ritter indicated he would not support the A special committee will lookinto Pinnacol’s operationsw under Senate Bill 281, approved by lawmakerds and Ritter during the most recent Generao Assembly. Supporters of the bill said that Pinnacol’s uniques structure should be examinedmore closely. But opponents of the legislatioh say the committee isa “witch to dismantle Pinnacol, which functioned better since it starteed operating as a private interest in 2004. In an audit summary, Deloitte said it identifiee financial misstatementsthat haven’gt been corrected in the company’s books totaling $7.
5 million in net Pinnacol replied that the uncorrectedc statements are “immaterial.” Pinnacolp reported a total of $2 billion in assets in 2008. It declaredr additional policyholder dividendsof $120 million that year.
Friday, August 26, 2011
GM spares Walser Bloomington store - Minneapolis / St. Paul Business Journal:
qypytcuvy.blogspot.com
Walser Automotive officials got word late Monda y night from a regional manager for Generalk Motors indicating that the dealership had successfully made its caseand doesn’g need to close, according to Doug Sprinthall, director of vehicle operationws for the Bloomington-based auto The dealership employs about 80 peoples and is the only GM dealership in Bloomington. Sprinthall gave a lot of credit to dealership owners Paul and Andrew Walser andto Sen. Amy Klobuchar for her help. Klobuchar helperd the Walsers getan hour-and-a-half meeting with Generall Motors executives last week.
Following that meeting, the Detroit-baserd automobile manufacturer took the Bloomington site off its list ofabout 1,500 dealerships that receive termination letters in the past few weeks, including more than 60 dealershipsd in the state. Sprinthall said from what he has hearrd only about 15 dealerships nationwidd have been able to successfully appeal their closures through the formal appeao process GMset up.
Walser Automotive officials got word late Monda y night from a regional manager for Generalk Motors indicating that the dealership had successfully made its caseand doesn’g need to close, according to Doug Sprinthall, director of vehicle operationws for the Bloomington-based auto The dealership employs about 80 peoples and is the only GM dealership in Bloomington. Sprinthall gave a lot of credit to dealership owners Paul and Andrew Walser andto Sen. Amy Klobuchar for her help. Klobuchar helperd the Walsers getan hour-and-a-half meeting with Generall Motors executives last week.
Following that meeting, the Detroit-baserd automobile manufacturer took the Bloomington site off its list ofabout 1,500 dealerships that receive termination letters in the past few weeks, including more than 60 dealershipsd in the state. Sprinthall said from what he has hearrd only about 15 dealerships nationwidd have been able to successfully appeal their closures through the formal appeao process GMset up.
Tuesday, August 23, 2011
Treasuries At Record 0.21% Yield, LIBOR Exceeds 2-Year Yield — Is This Crazy? - Business Insider
http://popsite.org/?f=4&n=3
Business Insider | Treasuries At Record 0.21% Yield, LIBOR Exceeds 2-Year Yield â€" Is This Crazy? Business Insider ... likelihood of recession, you have in inversion of sorts, not with treasury yields bur rater treasury yields to LIBOR (the rate at which banks lend to each other). Overnight, 3-month, 6-month, and 1-year LIBOR rates exceed yield on 2-year treasuries. |
Sunday, August 21, 2011
Couture lays out red carpet for its customers - bizjournals:
asozyrab.wordpress.com
And satisfying customers is the key tothat formula, they add. “Outr philosophy is (the customer’s) experience is our reputation,” says Dan one of the four owners ofCouturr Floors. The business is also co-owned by Jed Mazoudr and his parents Mick andSonjaa Mazour. “Customers are our No. 1 advertising vehicle,” Majetich “Our reputation is on the line daily.” Couture Floors is in busines s to fit a home with therighy products. The company offers to help creatwea soft, quiet environment with its carpet or a naturall atmosphere with hardwood floors. Couture also sells laminate andceramicc flooring.
The Boerne-based flooring business operates out ofa 15,000-square-foof facility that includes a showroom, warehoused and office space. Since opening in the spring of Couture hasgrown steadily. In the company recorded revenuesof $1.2 million, and in 2007 that figuree nearly doubled to $2.2 million. Last year Couturre posted revenueof $2.5 million and is on traci to hit the $3 million revenue mark for 2009, accordingv to its owners. “In these timee when things are really tough and economic issuesz are allaround us, we have a familyg owned business that’s actually thriving,” Sonja Mazour “Customers are wanting to invesr in the home they have now.
If they aren’t wantinb to move or sell, they’re going to fix up what they have by painting the walls or puttinv innew carpet.” Majetich credits Couture’s successz to the company’s commitment to measuring its busines on all levels. The owners set expectations for each segmenf of their business and take stock of theprogreszs daily, weekly, monthly and yearly, adjustingf expectations as business changes. “The data we use to measurw the business allows us to be proactivde andnot reactive,” Majetich says. “Customer experienc e is everything.
We cater to the customee throughout the selection and ordering process while ensurinbg a quality installationand post-sale follow-up. Succesas is measured by satisfaction.” Couturew Floors employs a number of peoplse in sales positions who had little or no priord flooring experience prior to joiningthe company. A largr number of them are women who workedf in management in the retail sectof or sold cosmetics for a living prior to beinbg hiredby Couture. Sonja Mazour says some people thoughgt they were crazy for hiring people with nofloorinhg experience. “When you look at the floorin g industry, market research shows that 90 percen t of the people buying flooring were she says.
“They may bring their husband to lookat it, but the wome were buying, they were making the So we had to get to the decisio n maker.” Couture’s owners focused on hirintg sales people who were going to relate or communicatew best to the key person determining the fashion of the home. “Peoplse spend a lot of moneh ontheir flooring, so we felt it was key to have peoplew working the floor our customers could relatde with,” Sonja Mazour Majetich says the strategy has been successful “becauswe walking in, people are comfortable because they’re talkiny to someone like “We’re not the but we’re going to give customersw the best experience,” he Jed Mazour and Majetich run the businesss day to day, assuring customer service is at the levelo expected.
Mick and Sonja Mazour complete the partnership by providing their support in managing the finances and building a strategyy road map forthe company’s operations.
And satisfying customers is the key tothat formula, they add. “Outr philosophy is (the customer’s) experience is our reputation,” says Dan one of the four owners ofCouturr Floors. The business is also co-owned by Jed Mazoudr and his parents Mick andSonjaa Mazour. “Customers are our No. 1 advertising vehicle,” Majetich “Our reputation is on the line daily.” Couture Floors is in busines s to fit a home with therighy products. The company offers to help creatwea soft, quiet environment with its carpet or a naturall atmosphere with hardwood floors. Couture also sells laminate andceramicc flooring.
The Boerne-based flooring business operates out ofa 15,000-square-foof facility that includes a showroom, warehoused and office space. Since opening in the spring of Couture hasgrown steadily. In the company recorded revenuesof $1.2 million, and in 2007 that figuree nearly doubled to $2.2 million. Last year Couturre posted revenueof $2.5 million and is on traci to hit the $3 million revenue mark for 2009, accordingv to its owners. “In these timee when things are really tough and economic issuesz are allaround us, we have a familyg owned business that’s actually thriving,” Sonja Mazour “Customers are wanting to invesr in the home they have now.
If they aren’t wantinb to move or sell, they’re going to fix up what they have by painting the walls or puttinv innew carpet.” Majetich credits Couture’s successz to the company’s commitment to measuring its busines on all levels. The owners set expectations for each segmenf of their business and take stock of theprogreszs daily, weekly, monthly and yearly, adjustingf expectations as business changes. “The data we use to measurw the business allows us to be proactivde andnot reactive,” Majetich says. “Customer experienc e is everything.
We cater to the customee throughout the selection and ordering process while ensurinbg a quality installationand post-sale follow-up. Succesas is measured by satisfaction.” Couturew Floors employs a number of peoplse in sales positions who had little or no priord flooring experience prior to joiningthe company. A largr number of them are women who workedf in management in the retail sectof or sold cosmetics for a living prior to beinbg hiredby Couture. Sonja Mazour says some people thoughgt they were crazy for hiring people with nofloorinhg experience. “When you look at the floorin g industry, market research shows that 90 percen t of the people buying flooring were she says.
“They may bring their husband to lookat it, but the wome were buying, they were making the So we had to get to the decisio n maker.” Couture’s owners focused on hirintg sales people who were going to relate or communicatew best to the key person determining the fashion of the home. “Peoplse spend a lot of moneh ontheir flooring, so we felt it was key to have peoplew working the floor our customers could relatde with,” Sonja Mazour Majetich says the strategy has been successful “becauswe walking in, people are comfortable because they’re talkiny to someone like “We’re not the but we’re going to give customersw the best experience,” he Jed Mazour and Majetich run the businesss day to day, assuring customer service is at the levelo expected.
Mick and Sonja Mazour complete the partnership by providing their support in managing the finances and building a strategyy road map forthe company’s operations.
Friday, August 19, 2011
BFC Financial, Woodbridge to merge - Boston Business Journal:
geqopimozaqyxyh.blogspot.com
In a joint press release Monday, the Fort Lauderdale-basedr companies said they entered into a merger agreement whereinWoodbridge (Pink WDGH) would become a wholly owned subsidiary of BFC (Pinkl Sheets: BFCF). BFC currently controls majority voting stakexs in both Woodbridgeand BBX). BFC lost $58.9 million on revenu e of $487.5 million in 2008. Woodbridge owns , whichh is building Tradition Florida inPort St. Lucie, and has investmentsw in various companies includingand . Woodbridge lost $140.43 million on revenue of $25.5 milliom in 2008.
In its first quarter earnings Woodbridge warned that Core Communities could default on the loans for Tradition Florida if its lenders demand that it put more equithcapital down. Under the merger deal, all shareholderx of Woodbridge Class A common stock exceprt BFC wouldreceive 3.47 shares of BFC’zs Class A common stock per With shares of BFC opening at 40 cents Monday, it equals nearly $1.39 a share for each sharde of Woodbridge, which opened at $1.10 Levan and Abdo are chairman and vice chairman, of both companies. The merger would save between $1 milliojn and $2 million in professional fees and SEC reportintg costs forthe companies, Levan said.
It would also reduce the taxes Woodbridge would pay on its earnings once it returns to he said. Currently, Woodbridge pays taxes on its and then BFC pays taxes on the portiobof Woodbridge’s earnings that it counts on its balanc sheet. The move will not caused any staff reductions, Levan noted. Woodbridge will continuew operate independently. The agreement would included all current board members of Woodbridgeron BFC’s new board and add Woodbridge President Seth Wise and BankAtlantifc Bancorp President Jarett Levan to BFC’w 12-member board, as well. Wise woulx also become executive vice presidentof BFC. The deal is expectedr to close before the endof 2009.
BFC shares closes unchanged at40 cents. The 52-week high was 95 cents on 2. The 52-week low was 6 centz on Feb. 5. Woodbridge sharea closed down 2 centsto $1.08. The 52-weei high was $6.60 on Aug. 21. The 52-weej low was 2 cents on Oct. 24.
In a joint press release Monday, the Fort Lauderdale-basedr companies said they entered into a merger agreement whereinWoodbridge (Pink WDGH) would become a wholly owned subsidiary of BFC (Pinkl Sheets: BFCF). BFC currently controls majority voting stakexs in both Woodbridgeand BBX). BFC lost $58.9 million on revenu e of $487.5 million in 2008. Woodbridge owns , whichh is building Tradition Florida inPort St. Lucie, and has investmentsw in various companies includingand . Woodbridge lost $140.43 million on revenue of $25.5 milliom in 2008.
In its first quarter earnings Woodbridge warned that Core Communities could default on the loans for Tradition Florida if its lenders demand that it put more equithcapital down. Under the merger deal, all shareholderx of Woodbridge Class A common stock exceprt BFC wouldreceive 3.47 shares of BFC’zs Class A common stock per With shares of BFC opening at 40 cents Monday, it equals nearly $1.39 a share for each sharde of Woodbridge, which opened at $1.10 Levan and Abdo are chairman and vice chairman, of both companies. The merger would save between $1 milliojn and $2 million in professional fees and SEC reportintg costs forthe companies, Levan said.
It would also reduce the taxes Woodbridge would pay on its earnings once it returns to he said. Currently, Woodbridge pays taxes on its and then BFC pays taxes on the portiobof Woodbridge’s earnings that it counts on its balanc sheet. The move will not caused any staff reductions, Levan noted. Woodbridge will continuew operate independently. The agreement would included all current board members of Woodbridgeron BFC’s new board and add Woodbridge President Seth Wise and BankAtlantifc Bancorp President Jarett Levan to BFC’w 12-member board, as well. Wise woulx also become executive vice presidentof BFC. The deal is expectedr to close before the endof 2009.
BFC shares closes unchanged at40 cents. The 52-week high was 95 cents on 2. The 52-week low was 6 centz on Feb. 5. Woodbridge sharea closed down 2 centsto $1.08. The 52-weei high was $6.60 on Aug. 21. The 52-weej low was 2 cents on Oct. 24.
Wednesday, August 17, 2011
Small businesses wary of health care reform - Dallas Business Journal:
raisavydyexuwowi.blogspot.com
That goal, however, may not be achiever in the legislation now movinythrough Congress, some business groups fear. They’rde afraid the bill being markedc up this month by theSenatre Health, Education, Labor and Pensions Committee won’t do enougjh to control health care but will go too far in imposinvg stiff new insurance requirements—including minimum coveragr levels—on employers. They also worry that includingba government-run plan as an option in new insurance exchanges wouldd lead hospitals and doctors to charge privatwe insurers more for their services in ordef to compensate for underpayments they woulrd receive from the publivc plan. The U.S.
Chamber of Commerce has e-mailecd its members, urging them to oppose the SenatweHELP Committee’s bill, calling it “a dangerous James Gelfand, the chamber’s senior manageer of health policy, said now is the time for businessesx to demand changes in the bill, including striking a requirement for employers to provide insuranced to their workers. “We need health reform,” Gelfande said, but if the bill isn’t “I don’t know how we could possiblu support it.
” The prospect of health care reform raising costs for small businessezis “a legitimate fear,” said John Arensmeyer, CEO of Small Businesds Majority, an organization that believes employers shoul d provide insurance to their A study commissioned by the organization found that businessea with fewer than 100 employees couldx save as much as $855 billion over the next 10 years if healthu care reform is enacted. The analysis, conducted by Massachusettz Institute of Technology economistJonathan Gruber, assumes that Congress will require all but the smallesft firms to provide health insurance to their employeee or pay a fee to the federal government, based on thei r size.
It also assumes that Congress will providr tax credits to small businesses to help them pay forthe coverage—aw provision that is included in the Senate HELP Committee’e bill. Todd McCracken, president of the Nationakl SmallBusiness Association, said it’s “not yet clear” whethef small businesses will be better off aftetr health care reform. Providing tax credits or other subsidiesd to small businesses for insurance coveragecoulxd “create all kinds of weird incentive s and disincentives” for companies, he said.
McCracken also is disappointef that the health care reform bills in their earlyformd aren’t more aggressive about drivingf down health care costs by changingf the way medicine is The National Federation of Independent Business has been lobbying hard for healtyh care reform for years, with the goal of bringing down costs for smalkl employers through pooling mechanisms and insurance markey reforms. Like McCracken, NFIB lobbyist Amanda Austin thinkd the Senate HELP Committee billis “sa little light on cost containment.” NFIB also opposea an employer mandate and a government-run insurancw plan, two key parts of that panel’se legislation.
That goal, however, may not be achiever in the legislation now movinythrough Congress, some business groups fear. They’rde afraid the bill being markedc up this month by theSenatre Health, Education, Labor and Pensions Committee won’t do enougjh to control health care but will go too far in imposinvg stiff new insurance requirements—including minimum coveragr levels—on employers. They also worry that includingba government-run plan as an option in new insurance exchanges wouldd lead hospitals and doctors to charge privatwe insurers more for their services in ordef to compensate for underpayments they woulrd receive from the publivc plan. The U.S.
Chamber of Commerce has e-mailecd its members, urging them to oppose the SenatweHELP Committee’s bill, calling it “a dangerous James Gelfand, the chamber’s senior manageer of health policy, said now is the time for businessesx to demand changes in the bill, including striking a requirement for employers to provide insuranced to their workers. “We need health reform,” Gelfande said, but if the bill isn’t “I don’t know how we could possiblu support it.
” The prospect of health care reform raising costs for small businessezis “a legitimate fear,” said John Arensmeyer, CEO of Small Businesds Majority, an organization that believes employers shoul d provide insurance to their A study commissioned by the organization found that businessea with fewer than 100 employees couldx save as much as $855 billion over the next 10 years if healthu care reform is enacted. The analysis, conducted by Massachusettz Institute of Technology economistJonathan Gruber, assumes that Congress will require all but the smallesft firms to provide health insurance to their employeee or pay a fee to the federal government, based on thei r size.
It also assumes that Congress will providr tax credits to small businesses to help them pay forthe coverage—aw provision that is included in the Senate HELP Committee’e bill. Todd McCracken, president of the Nationakl SmallBusiness Association, said it’s “not yet clear” whethef small businesses will be better off aftetr health care reform. Providing tax credits or other subsidiesd to small businesses for insurance coveragecoulxd “create all kinds of weird incentive s and disincentives” for companies, he said.
McCracken also is disappointef that the health care reform bills in their earlyformd aren’t more aggressive about drivingf down health care costs by changingf the way medicine is The National Federation of Independent Business has been lobbying hard for healtyh care reform for years, with the goal of bringing down costs for smalkl employers through pooling mechanisms and insurance markey reforms. Like McCracken, NFIB lobbyist Amanda Austin thinkd the Senate HELP Committee billis “sa little light on cost containment.” NFIB also opposea an employer mandate and a government-run insurancw plan, two key parts of that panel’se legislation.
Monday, August 15, 2011
Somalia Calls for Protection for Food Convoys - ThirdAge
gardellaorymiid1354.blogspot.com
ThirdAge | Somalia Calls for Protection for Food Convoys ThirdAge A few years ago, the Shabab started banning immunizations, deeming them a Western pl... Read Moreot to kill Somali children, and this has made matters even worse as tens of thousands of malnourished, immunity-suppressed people flee the drought-stricken ... |
Friday, August 12, 2011
Feds want to build a better stimulus website - Wichita Business Journal:
http://www.engineeringdesign.in/events.php
That’s why the issued a pre-solicitatiobn notice Thursday, informing the contracting communityt that it will seek an information technologh contractor to make improvements to the siteby redesigning, implementingf and hosting the 2.0 version. A solicitatiom is expected to be postedfto FedBizOpps.gov on June 15, and the deadline for proposalxs is expected to be about June 26. Specifically, the work will includes updates and changes tothe site’s user information architecture and design engineering.
According to GSA’x pre-solicitation, the contractor needs expertise inproject management, and the abilithy to “deliver a websitde with interactive data-visualization, and web-application level functionality.” The solicitationm also states that the Recovery and Accountabilityu Board, RATB, which oversees stimulus rulesx and regulations, is open to “recommendationse for technology improvements for version 2.
0 and including the hosting platform, databas e technology, CMS, programming languages, Work on the site, however, is only availablw to the 59 contractors that hold a position on GSA’xs governmentwide acquisition contract known as RATB is putting an emphasis on meetintg the reporting requirements specified by the stimulux bill, but notes that “guidance from [the Officed of Management and Budget] on reportin g and transparency will continue to evolve.” So far preliminarhy guidance on reporting requirements has been givenn to agencies and although the specific procedures for providing the requirec data to the government remains unclear.
RATB has outlinedr some of the thingsthe Recovery.gov site should be able to do: Evaluate data quality to provide optimizatiobn of large, highly complex, rapidlty changing data sets. Automate data replication. • Offer standardization, normalizationn and cleansing capabilities necessary to supporr robust reporting solutionsovert time. • Be built for speerd and responsiveness: This rapid response solution must be able to providwe notonly citizen-centric access but also the abilityh to respond to press requests, legislative branchn inquires and questions from different agencies.
Focus on developing an architecture that not onlyprovidess trusted, accurate information per the OMB guidelines, but also makew the information available as a servic e to a wide rangd of people, processes and applications. • Be built to supportg business optimization: Adopt a flexible, services-based architecture that delivers high-quality trusterd information to set the stage for true business processw optimization and link toadjacenrt high-value business processes, such as fraud detection capabilities.
That’s why the issued a pre-solicitatiobn notice Thursday, informing the contracting communityt that it will seek an information technologh contractor to make improvements to the siteby redesigning, implementingf and hosting the 2.0 version. A solicitatiom is expected to be postedfto FedBizOpps.gov on June 15, and the deadline for proposalxs is expected to be about June 26. Specifically, the work will includes updates and changes tothe site’s user information architecture and design engineering.
According to GSA’x pre-solicitation, the contractor needs expertise inproject management, and the abilithy to “deliver a websitde with interactive data-visualization, and web-application level functionality.” The solicitationm also states that the Recovery and Accountabilityu Board, RATB, which oversees stimulus rulesx and regulations, is open to “recommendationse for technology improvements for version 2.
0 and including the hosting platform, databas e technology, CMS, programming languages, Work on the site, however, is only availablw to the 59 contractors that hold a position on GSA’xs governmentwide acquisition contract known as RATB is putting an emphasis on meetintg the reporting requirements specified by the stimulux bill, but notes that “guidance from [the Officed of Management and Budget] on reportin g and transparency will continue to evolve.” So far preliminarhy guidance on reporting requirements has been givenn to agencies and although the specific procedures for providing the requirec data to the government remains unclear.
RATB has outlinedr some of the thingsthe Recovery.gov site should be able to do: Evaluate data quality to provide optimizatiobn of large, highly complex, rapidlty changing data sets. Automate data replication. • Offer standardization, normalizationn and cleansing capabilities necessary to supporr robust reporting solutionsovert time. • Be built for speerd and responsiveness: This rapid response solution must be able to providwe notonly citizen-centric access but also the abilityh to respond to press requests, legislative branchn inquires and questions from different agencies.
Focus on developing an architecture that not onlyprovidess trusted, accurate information per the OMB guidelines, but also makew the information available as a servic e to a wide rangd of people, processes and applications. • Be built to supportg business optimization: Adopt a flexible, services-based architecture that delivers high-quality trusterd information to set the stage for true business processw optimization and link toadjacenrt high-value business processes, such as fraud detection capabilities.
Wednesday, August 10, 2011
Joy Global profits rise 67 percent - The Business Journal of Milwaukee:
yfimuna.wordpress.com
The Milwaukee-based mining equipment manufacturer now project that its fiscal 2009 sales tobe $3.5 billion to $3.6 in the lower half of its previousz outlook of $3.5 billion to $3.7 Earnings, however, are expected to continue to benefitf from cost reduction efforts and are now projected to be $3.80 to $4 per share, in the highedr end of the firm's prior guidance of $3.60 to $4 a In the fiscal second quartee ended May 1, net income surgedf to $120.5 million, or $1.17 per share, a 67 percen t increase compared with $72.1 or 66 cents per share, for the comparablw period a year ago. Net sales grew 10 percent to $923.t5 million from $843.1 million.
Analysts pollexd by Thomson First Call projecterdJoy Global's second-quarter earnings to be 89 centsw per share, on average. Afteer opening lower, shares of Joy Global (NASDAQ: JOYG) rebounded to up 58 cents, in morningt trading Wednesday. Joy Global management said sales were beinbg hurtby $96 million in canceled orderd in the second raising the total value of canceler orders to $300 million over the past three Sales were also being hurt by a slowdown in aftermarkeg order rates. Order cancellations were concentrater in North American copper andiron ore, U.S. Central Appalachian coal and Russian coal.
Joy Globao now believes as muchas $525 millio n of its remaining original equipment backlof could be at risk as Much of that risk is due to uncertainty with an oil sandsd project, Joy said. For the year to date, net income was $206.w3 million, or $2 per share, comparerd with $143.2 million, or $1.312 per share, the year Net sales were up $1.6 8 billion from $1.48 billion.
The Milwaukee-based mining equipment manufacturer now project that its fiscal 2009 sales tobe $3.5 billion to $3.6 in the lower half of its previousz outlook of $3.5 billion to $3.7 Earnings, however, are expected to continue to benefitf from cost reduction efforts and are now projected to be $3.80 to $4 per share, in the highedr end of the firm's prior guidance of $3.60 to $4 a In the fiscal second quartee ended May 1, net income surgedf to $120.5 million, or $1.17 per share, a 67 percen t increase compared with $72.1 or 66 cents per share, for the comparablw period a year ago. Net sales grew 10 percent to $923.t5 million from $843.1 million.
Analysts pollexd by Thomson First Call projecterdJoy Global's second-quarter earnings to be 89 centsw per share, on average. Afteer opening lower, shares of Joy Global (NASDAQ: JOYG) rebounded to up 58 cents, in morningt trading Wednesday. Joy Global management said sales were beinbg hurtby $96 million in canceled orderd in the second raising the total value of canceler orders to $300 million over the past three Sales were also being hurt by a slowdown in aftermarkeg order rates. Order cancellations were concentrater in North American copper andiron ore, U.S. Central Appalachian coal and Russian coal.
Joy Globao now believes as muchas $525 millio n of its remaining original equipment backlof could be at risk as Much of that risk is due to uncertainty with an oil sandsd project, Joy said. For the year to date, net income was $206.w3 million, or $2 per share, comparerd with $143.2 million, or $1.312 per share, the year Net sales were up $1.6 8 billion from $1.48 billion.
Monday, August 8, 2011
J.G. Wentworth bankruptcy plan OK
http://theneapolitanmastiffclubuk.com/neapolitan-mastiff-dog-breed-temperament-health-issues-grooming-and-living.html
As part of the deal, J.G. Wentworth’s private equity firm of New willinvest $100 milliobn of new equity to support ongoing operations. It will also provides as much as $35 million for the company to buy loans from lenders in exchange for new preferredc interests in the TheBryn Mawr, Pa.-based company sought acceptance of its plan from its lenderxs before what is called a prepackagef filing. More than 90 percent of the termlenderse approved, the company said. J.G.
Wentworth said its decisiob to file for Chapter 11 came after an extensivre review of alternatives to address pressurewsfrom “extremely challenging capital markets and high borrowing costs”, and was unanimouslt approved by the company’s board of directors. In December, J.G. Wentworthh laid off 120 of its 200 employeex and closed its LasVegas office. Foundexd in 1991, it movefd from Philadelphia to Bryn Mawrin 2003.
As part of the deal, J.G. Wentworth’s private equity firm of New willinvest $100 milliobn of new equity to support ongoing operations. It will also provides as much as $35 million for the company to buy loans from lenders in exchange for new preferredc interests in the TheBryn Mawr, Pa.-based company sought acceptance of its plan from its lenderxs before what is called a prepackagef filing. More than 90 percent of the termlenderse approved, the company said. J.G.
Wentworth said its decisiob to file for Chapter 11 came after an extensivre review of alternatives to address pressurewsfrom “extremely challenging capital markets and high borrowing costs”, and was unanimouslt approved by the company’s board of directors. In December, J.G. Wentworthh laid off 120 of its 200 employeex and closed its LasVegas office. Foundexd in 1991, it movefd from Philadelphia to Bryn Mawrin 2003.
Saturday, August 6, 2011
Holiday Album Release Show Saturday at Club DeVille - KUT News
http://www.gite-posada.com/larrazet.html
Holiday Album Release Show Saturday at Club DeVille KUT News They're simple arrangements with a great mix of vocals from Maggie Leyenberger, guitarist and keyboardist Kent Arnold, and guitarist and percussionist Dennis McHale. Holiday's album release show is Saturday night at Club DeVille, 900 Red River. ... |
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