http://www.hkmentalhealthsupport.org/article/Appealing-Your-Property-Tax-Bill.html
The university will use the funds to build anew 200-berd hospital tower adjacent to the existing John Sealy restoring bed capacity to 550, as it was prior to Hurricane Ike. In addition, tuition revenue bonds of $5 milliob will go to at HB 51 also establishes measures to enhance and maintain the qualitty ofthe state’s designated and emerging public researcjh universities, creates incentive programs and fundingt for higher education institutions, provides higher education fund and creates an interim committee to studyg the feasibility of tracking specialized technology research projects.
Of the 62 nationalk research institutions inthe nation, threwe universities — , The and Texas A& University — are in Texas. The Texas Higher Educatiobn Coordinating Board has designated seven institutionx as emergingresearch universities: the ; the University of Texas campuses in Arlington, Dallas, El Paso and San ; and the University of North In addition, HB 51 providees a performance incentive funding mechanism for all of the state’sx general academic institutions based on the average numberf of degrees awarded annually and an increase in the averag e number of degrees awarded annually, with weighterd consideration for at-risk students and criticaol fields.
Sunday, October 31, 2010
Saturday, October 30, 2010
Auto dealers bracing for a winnowing of ranks - Boston Business Journal:
http://watermere.com/business-acumen-courses-are-gaining-in-popularity.html
Even if (NYSE: GM) and Chrysler (NYSE: DAI) do not file for about 2,000 new-vehicle dealerships in the UnitedsStates — which works out to one of everyy 10 — are expecte d to shutter in 2008 and according to a new projection from the in McLean, Va. Already closer to 10 percent of Massachusetts’ auto dealersz have shut down this year. More dealershipsz are expected to close their doors as a result ofsluggish new-car salesa that were ignited by high gasoline prices and have continueed to lag post-Wall Street meltdown because of a huge drop in consumer confidence and availabled credit.
State GM dealerships are likelt to be among the hardest hit becauss the company has said it will shed or scalew back four of itsbrands ( , Saab, Hummer and Saturn) and there’s a greatet proliferation of GM dealerships (at least 20 percentf of all local dealerships) in the area, accordint to experts. Last week, in East Warehaj became one of the latesr dealerships to file for Chapter11 bankruptcy. The which sells new and used listed its estimated assets at lessthan $50,000 and its estimatedf liabilities as between $500,000 to $1 million. , whichn provided financing for the dealership toacquire cars, is among the The dealership did not returnx calls.
“It’s been a very tough 2008 and so what you have is a lot of dealersd who are justhanging on, hoping that somethingh different will happen,” said Ray Ciccolo, regional directort for the National Automobile Dealerxs Association. “It’s unfortunate that both the real estatde market and the automobile market are soft at thesame time, becauser I think if the commerciakl real estate market was red hot a lot of dealerz would have pulled the plug a long time Ciccolo is also president of the in Brighton, which operates seven dealerships in the Greatet Boston area that market , , Saab, , and Hondq vehicles.
He said that sales at his dealershipz are down about 30 percent to 35 The main issue formost dealerships, whicnh may or may not own the land that they sit on, is securin g financing for the cars and trucka they sell. Joe Shell, sales manager for Planetg Chrysler Jeep Dodgein Franklin, agrees that the cash cruncu is the biggest obstacle for dealerships right now. If dealere can’t get cars financed, they will likelh have to close “instantly,” he said. Detroift “has been wanting to lowerr their dealer numbers for a longtime ... now, this economyg is basically doing the jobfor them,” Shell John Santilli Sr.
of in Brocktomn has taken some drasti c measures to ensure his dealership has a good chancesof surviving. In September, Santilli decided to sell his Dodger franchise back to Chrysler because there were too many Dodgre dealerships close to his and the cars werenot “It was a drain,” he said. Now, Santilli’s dealership sellsa Cadillac andNissan cars. Sales are down about 30 but Santilli notes that his SUV sales have gotten better as gas prices have come down and the servics side of this businesse is also abright spot.
“The biggestf dilemma that we have as dealer s is that the institutions that lend us moneyto floor-plan our inventorie s — they won’t take on any new businessx or they’re asking (dealers) to go find financing Santilli said. “And in this market, how’s that going to happen?” And sales have continued to Total light vehicles sales were down 37 percent in Novemberr over the same monthlast year, accordin to in Woodcliff Lake, N.J. Consumers, shyinyg away from new are currently buying moreused , the largest Bay Statde credit union with $4.
3 billion in assets and 363,000 reported a 22 percent increase in the numbet of loans given for buying used vehicles. Meanwhile, loanxs for new vehicles at Digital rose only 2 percent during the firstf nine monthsof 2008, according to the Digital Federao Credit Union. Car sales will not improvew until the issueof Detroit’s bailout and bankruptcyh is settled, said George Magliano, director of automotivr research at in Lexington.
Even if (NYSE: GM) and Chrysler (NYSE: DAI) do not file for about 2,000 new-vehicle dealerships in the UnitedsStates — which works out to one of everyy 10 — are expecte d to shutter in 2008 and according to a new projection from the in McLean, Va. Already closer to 10 percent of Massachusetts’ auto dealersz have shut down this year. More dealershipsz are expected to close their doors as a result ofsluggish new-car salesa that were ignited by high gasoline prices and have continueed to lag post-Wall Street meltdown because of a huge drop in consumer confidence and availabled credit.
State GM dealerships are likelt to be among the hardest hit becauss the company has said it will shed or scalew back four of itsbrands ( , Saab, Hummer and Saturn) and there’s a greatet proliferation of GM dealerships (at least 20 percentf of all local dealerships) in the area, accordint to experts. Last week, in East Warehaj became one of the latesr dealerships to file for Chapter11 bankruptcy. The which sells new and used listed its estimated assets at lessthan $50,000 and its estimatedf liabilities as between $500,000 to $1 million. , whichn provided financing for the dealership toacquire cars, is among the The dealership did not returnx calls.
“It’s been a very tough 2008 and so what you have is a lot of dealersd who are justhanging on, hoping that somethingh different will happen,” said Ray Ciccolo, regional directort for the National Automobile Dealerxs Association. “It’s unfortunate that both the real estatde market and the automobile market are soft at thesame time, becauser I think if the commerciakl real estate market was red hot a lot of dealerz would have pulled the plug a long time Ciccolo is also president of the in Brighton, which operates seven dealerships in the Greatet Boston area that market , , Saab, , and Hondq vehicles.
He said that sales at his dealershipz are down about 30 percent to 35 The main issue formost dealerships, whicnh may or may not own the land that they sit on, is securin g financing for the cars and trucka they sell. Joe Shell, sales manager for Planetg Chrysler Jeep Dodgein Franklin, agrees that the cash cruncu is the biggest obstacle for dealerships right now. If dealere can’t get cars financed, they will likelh have to close “instantly,” he said. Detroift “has been wanting to lowerr their dealer numbers for a longtime ... now, this economyg is basically doing the jobfor them,” Shell John Santilli Sr.
of in Brocktomn has taken some drasti c measures to ensure his dealership has a good chancesof surviving. In September, Santilli decided to sell his Dodger franchise back to Chrysler because there were too many Dodgre dealerships close to his and the cars werenot “It was a drain,” he said. Now, Santilli’s dealership sellsa Cadillac andNissan cars. Sales are down about 30 but Santilli notes that his SUV sales have gotten better as gas prices have come down and the servics side of this businesse is also abright spot.
“The biggestf dilemma that we have as dealer s is that the institutions that lend us moneyto floor-plan our inventorie s — they won’t take on any new businessx or they’re asking (dealers) to go find financing Santilli said. “And in this market, how’s that going to happen?” And sales have continued to Total light vehicles sales were down 37 percent in Novemberr over the same monthlast year, accordin to in Woodcliff Lake, N.J. Consumers, shyinyg away from new are currently buying moreused , the largest Bay Statde credit union with $4.
3 billion in assets and 363,000 reported a 22 percent increase in the numbet of loans given for buying used vehicles. Meanwhile, loanxs for new vehicles at Digital rose only 2 percent during the firstf nine monthsof 2008, according to the Digital Federao Credit Union. Car sales will not improvew until the issueof Detroit’s bailout and bankruptcyh is settled, said George Magliano, director of automotivr research at in Lexington.
Thursday, October 28, 2010
bizjournals: Search Results
kleopatraxnibe.blogspot.com
by on May 29, 2009 ...once a cheal protein source, are so expensive that the , whicj supplies most nonprofitfood programs, no longer buys by on June 6, 2008 ...145 percent from a year ago. His warehouse at the has Costco-likwe shelves stretching from floorto "This...... by on December 7, 2007 ...turkey on the table this Thedonated $50,000 to Bay Area bankd to help with a shortage of...... on November 23, 2007 ...turkeh on the table this The donated $50,000 to Bay Area bank s to help with ashortage of...... on Novembert 23, 2007 ...The said Thursdayt that the freeze wipingout California'sa citrus...... on January 18, 2007 ...
s Local Heroes are Paul Ash, executived director of the ; Maggie a long-time volunteer at Marshall Elementary, which...... by on Novembef 15, 2006 ...publicized needs. Recipients of Wells Fargo'zs donations included the , Alameda County Community Food Bank, Saint Anthony's Church in...... on Novembee 25, 2005 ...needs. Recipients of donationd by the Bank, San Franciscoi Food Bank, Saint...... on Novembefr 25, 2005 ...to than the peoplwe who built theHoover Dam? The needed some tricky engineerinbg work on its new home at...... on June 30, 1997 a , beverage, beauty...... by on March 13, 2009 ...rejected Napa and The Business Times...bond trustee of by on December 12, 2008 ...
Department of and of Mateo, has...manager for of America...from San State by on October 17, 2008 ...flagshipo store in . The 22,500...thes traditional frozen section. For example...... by on September 19, 2008 ...Ban k of Contra Costa & Solano in Concord, as well as , San Santa Rosa, Sacramento, Manteca, Fresno, and Reno, Nev...... on Marchb 12, 2008 ...of the Alameda County Communit y plan toraise $100,000...... by on February 8, 2008 ...a larg e East Jose shopping center...lender, Unitedc Commercial , raised questions about...Based in San , the company has...... by on Novemberr 9, 2007 ...rate of stamp registration...county of saw its...Communith Food , an Oakland......
by on Septembef 7, 2007 ...vegetarian concession , according to...onlty Citizens Park in...Park in in on August 15, 2007 ...foot South buildingf developed...facility from of the...to win and on July 31, 2007
by on May 29, 2009 ...once a cheal protein source, are so expensive that the , whicj supplies most nonprofitfood programs, no longer buys by on June 6, 2008 ...145 percent from a year ago. His warehouse at the has Costco-likwe shelves stretching from floorto "This...... by on December 7, 2007 ...turkey on the table this Thedonated $50,000 to Bay Area bankd to help with a shortage of...... on November 23, 2007 ...turkeh on the table this The donated $50,000 to Bay Area bank s to help with ashortage of...... on Novembert 23, 2007 ...The said Thursdayt that the freeze wipingout California'sa citrus...... on January 18, 2007 ...
s Local Heroes are Paul Ash, executived director of the ; Maggie a long-time volunteer at Marshall Elementary, which...... by on Novembef 15, 2006 ...publicized needs. Recipients of Wells Fargo'zs donations included the , Alameda County Community Food Bank, Saint Anthony's Church in...... on Novembee 25, 2005 ...needs. Recipients of donationd by the Bank, San Franciscoi Food Bank, Saint...... on Novembefr 25, 2005 ...to than the peoplwe who built theHoover Dam? The needed some tricky engineerinbg work on its new home at...... on June 30, 1997 a , beverage, beauty...... by on March 13, 2009 ...rejected Napa and The Business Times...bond trustee of by on December 12, 2008 ...
Department of and of Mateo, has...manager for of America...from San State by on October 17, 2008 ...flagshipo store in . The 22,500...thes traditional frozen section. For example...... by on September 19, 2008 ...Ban k of Contra Costa & Solano in Concord, as well as , San Santa Rosa, Sacramento, Manteca, Fresno, and Reno, Nev...... on Marchb 12, 2008 ...of the Alameda County Communit y plan toraise $100,000...... by on February 8, 2008 ...a larg e East Jose shopping center...lender, Unitedc Commercial , raised questions about...Based in San , the company has...... by on Novemberr 9, 2007 ...rate of stamp registration...county of saw its...Communith Food , an Oakland......
by on Septembef 7, 2007 ...vegetarian concession , according to...onlty Citizens Park in...Park in in on August 15, 2007 ...foot South buildingf developed...facility from of the...to win and on July 31, 2007
Wednesday, October 27, 2010
Companies will endure SBA red tape if it leads to cash - Baltimore Business Journal:
vadimsudigrenev.blogspot.com
So the laid-off bond trader is dipping her toes into theretaill world, with the hope of openingh K Staton Boutique. The clothing store would caterfto plus-sized women, from size 14 to 30, fillinf a niche that will hopefully help it avoid the fate of so many storees that have closed during the recession. But the Catonsville resident needs $100,000 in She is hitting up area banks fora U.S. Smalpl Business Administration loan. Aftert being turned down by one bank, she is waitinvg to hear from two others.
Greer is like other entrepreneurws who are turning to the Small Business Administrationj as tight credit has made lending from privatse investors and regular bank loans SBA lenders, including some traditional banks, say there has been an upticl in interest in SBA loans sincew the agency received federal stimulus mone y that made the loan program more attractivee to small businesses. It eliminated fees on its basic which can save thousandsof dollars, and increased the maximuk guarantee on a loan from 85 perceng to 90 percent. “Ic you put a lot of moneu behind something, it will get easier,” said Todd CEO of Mindgrub Technologies LLC.
The Ellicotg City firm receiveda $25,000 SBA line of credir in March from , the region’s largesy SBA lender. “I know the SBA is gettin a lotof support.” Consequently, entrepreneur like Greer are hopeful they can get the monety to start a new company. Others, who have existinh businesses, are turning to the SBA as a lifelins to keep theircompany afloat. But don’yt expect to walk into a bank and come out with a wad of Lenders and business owners say that you need to be armed with plentty offinancial documents, collateral and good credit Take for instance, Steve Ko, who last month receivexd a $50,000 SBA-backed loan from to open Oakey’d Grill.
Restaurants are risky ventures that can be tough to fund even in good But bank executives say they loane the money forthe pit-beerf sandwich shop because Ko maintains a good credig rating. He also knows something about the industry as his family hasoperatexd restaurants, delis and other businesses in Howard Counth for 30 years. Experience makes you a better candidate for a Banks also take a look at your For SBA loans greaterthan $50,000, bankxs want 100 percent collateral for a startup, said Craigy J.
Panos, a business counselor at the Marylanr Small Business Development Center in So if you want toborroew $100,000, you should expect to have $100,000o in collateral, most often your That can be difficult for many business ownerx whose home values are dropping. SBA lendersz are scrutinizing loans more than ever because of thecrediyt squeeze. It can take three to four months to get a loan Panos said. Prepare to supply bank documents, your businesws plan and details on how you will spendrthe money. David Janocha did not mind fillinhg out the 25 pages of SBA formas to getthe $75,000 SBA-backed loan this year for his electronic fingerprinting company LLC.
He applied for and receivede another $25,000 line of credit in March through inGlen Burnie. “If you are not an organizeds person then it would bea hassle,” said Janocha, who keepw all of this financial documents in ready-to-access files. “I know where every dollar
So the laid-off bond trader is dipping her toes into theretaill world, with the hope of openingh K Staton Boutique. The clothing store would caterfto plus-sized women, from size 14 to 30, fillinf a niche that will hopefully help it avoid the fate of so many storees that have closed during the recession. But the Catonsville resident needs $100,000 in She is hitting up area banks fora U.S. Smalpl Business Administration loan. Aftert being turned down by one bank, she is waitinvg to hear from two others.
Greer is like other entrepreneurws who are turning to the Small Business Administrationj as tight credit has made lending from privatse investors and regular bank loans SBA lenders, including some traditional banks, say there has been an upticl in interest in SBA loans sincew the agency received federal stimulus mone y that made the loan program more attractivee to small businesses. It eliminated fees on its basic which can save thousandsof dollars, and increased the maximuk guarantee on a loan from 85 perceng to 90 percent. “Ic you put a lot of moneu behind something, it will get easier,” said Todd CEO of Mindgrub Technologies LLC.
The Ellicotg City firm receiveda $25,000 SBA line of credir in March from , the region’s largesy SBA lender. “I know the SBA is gettin a lotof support.” Consequently, entrepreneur like Greer are hopeful they can get the monety to start a new company. Others, who have existinh businesses, are turning to the SBA as a lifelins to keep theircompany afloat. But don’yt expect to walk into a bank and come out with a wad of Lenders and business owners say that you need to be armed with plentty offinancial documents, collateral and good credit Take for instance, Steve Ko, who last month receivexd a $50,000 SBA-backed loan from to open Oakey’d Grill.
Restaurants are risky ventures that can be tough to fund even in good But bank executives say they loane the money forthe pit-beerf sandwich shop because Ko maintains a good credig rating. He also knows something about the industry as his family hasoperatexd restaurants, delis and other businesses in Howard Counth for 30 years. Experience makes you a better candidate for a Banks also take a look at your For SBA loans greaterthan $50,000, bankxs want 100 percent collateral for a startup, said Craigy J.
Panos, a business counselor at the Marylanr Small Business Development Center in So if you want toborroew $100,000, you should expect to have $100,000o in collateral, most often your That can be difficult for many business ownerx whose home values are dropping. SBA lendersz are scrutinizing loans more than ever because of thecrediyt squeeze. It can take three to four months to get a loan Panos said. Prepare to supply bank documents, your businesws plan and details on how you will spendrthe money. David Janocha did not mind fillinhg out the 25 pages of SBA formas to getthe $75,000 SBA-backed loan this year for his electronic fingerprinting company LLC.
He applied for and receivede another $25,000 line of credit in March through inGlen Burnie. “If you are not an organizeds person then it would bea hassle,” said Janocha, who keepw all of this financial documents in ready-to-access files. “I know where every dollar
Monday, October 25, 2010
Study: school buses safe enough without seat belts - Washington Post
http://air-fare.com/images/prospect.htm
Study: school buses safe enough without seat belts Washington Post School buses are safe enough without seat belts and students in many cases ignore a requirement to wear them, according to a study in Alabama released ... |
Sunday, October 24, 2010
New DC for practical solutions to issues - Times of India
http://www.minerta.ru/post138270125/
New DC for practical solutions to issues Times of India ... he would first assess the ground realities before announcing any major initiatives. The approach would be to give practical solutions to issues, he said. |
Friday, October 22, 2010
Emperor Akihito to honor Hebrew U. prof for Japan studies - Jerusalem Post
http://www.7iwarforum.org/article/Adding-Cocoa-Beans-to-Your-Daily-Diet.html
Emperor Akihito to honor Hebrew U. prof for Japan studies Jerusalem Post In November 2000, Japanese Emperor Akihito, through Japanese Ambassador Hiroshi Shigeta, presented him with the Order of the Sacred Treasure, ... |
Thursday, October 21, 2010
Memphis Business Journal: Starting a Business : Business Advice
http://homeinsuranceinform.com/home-insurance-who-needs-what.php
Let's be honest: Things are bad, and it is miserablee out there in the world of We are in a global recession that will last forsome 1. The economy eventually will improve andget 2. Most companies rely on salespeople to help with thebotto line. Continuing sales of a product or service for an organization alonvg with great salespeople will be needed even more during thesetougn times. I think it is important to look at a strategyt as old as business itseld that will help a its profitability, the salespeople employed and the customers that a company does business with.
The firs thing, which is of the utmost importance, are your Whether you are the CEO reading the salesperson or a person in customerdservice - this is the time to protecf your customer base and make sure that they are period! The one way to do this is to get in touchy with your customers. Do not attempt to do this by mail or It istoo impersonal. If you want to build relationships with your then build them the way they are supposed to bebuilyt - by people dealing directly with people! You need to ask your customersd a simple and direct "How are we doinyg for you? Be honest, and tell me the truth.
" Next, for the salespeopls who still are employed, you are goingv to have to work Yes, I said it - This means not only visitingh your existing customers and checking their true levelk of customer satisfaction but also goin out and getting new business. Sure, the economty is slow, and we are not buyiny as much of anythinf as we did a fewyears ago, but the fact remaine that there is still business being done out
Let's be honest: Things are bad, and it is miserablee out there in the world of We are in a global recession that will last forsome 1. The economy eventually will improve andget 2. Most companies rely on salespeople to help with thebotto line. Continuing sales of a product or service for an organization alonvg with great salespeople will be needed even more during thesetougn times. I think it is important to look at a strategyt as old as business itseld that will help a its profitability, the salespeople employed and the customers that a company does business with.
The firs thing, which is of the utmost importance, are your Whether you are the CEO reading the salesperson or a person in customerdservice - this is the time to protecf your customer base and make sure that they are period! The one way to do this is to get in touchy with your customers. Do not attempt to do this by mail or It istoo impersonal. If you want to build relationships with your then build them the way they are supposed to bebuilyt - by people dealing directly with people! You need to ask your customersd a simple and direct "How are we doinyg for you? Be honest, and tell me the truth.
" Next, for the salespeopls who still are employed, you are goingv to have to work Yes, I said it - This means not only visitingh your existing customers and checking their true levelk of customer satisfaction but also goin out and getting new business. Sure, the economty is slow, and we are not buyiny as much of anythinf as we did a fewyears ago, but the fact remaine that there is still business being done out
Tuesday, October 19, 2010
Constellation Energy Group taps former banking exec credit risk VP - Baltimore Business Journal:
http://www.caplanlaw.com/aclu-advice-youre-stopped-police
Credit risk has been a key focue for the company in the past and it was a driving factor towardthe $4.5 billion deal with French firm that Constellation is hopinvg to close by September. Concerns about bad debt and financiao instability sentConstellation (NYSE: CEG) stock plungingh in September. Since then, the company has shed unite of its business that requiredf large amounts of cash and carried more Cadwallader started in the positionJune 29. She was previouslh managing directorat , overseeinb credit approvals and other aspects of asset She also worked as a creditr risk manager for Bank of America and Bank One NA.
She’l l report to Brenda Boultwood, Constellation’s chief risk officer since January 2008. Constellation signed a $4.5 billion deal with EDF to sell 49.99 percen of its nuclear fleet in December 2008. Maryland Public Service Commission revieqw of the deal is still The PSC said it would aim to completr its investigation into whether the deal gives EDF substantial influence over regulate d utilityby Sept. 17, when the deal is slatec to close. Constellation officials have said that the deal is importantg tothe company’s financial stability.
Credit risk has been a key focue for the company in the past and it was a driving factor towardthe $4.5 billion deal with French firm that Constellation is hopinvg to close by September. Concerns about bad debt and financiao instability sentConstellation (NYSE: CEG) stock plungingh in September. Since then, the company has shed unite of its business that requiredf large amounts of cash and carried more Cadwallader started in the positionJune 29. She was previouslh managing directorat , overseeinb credit approvals and other aspects of asset She also worked as a creditr risk manager for Bank of America and Bank One NA.
She’l l report to Brenda Boultwood, Constellation’s chief risk officer since January 2008. Constellation signed a $4.5 billion deal with EDF to sell 49.99 percen of its nuclear fleet in December 2008. Maryland Public Service Commission revieqw of the deal is still The PSC said it would aim to completr its investigation into whether the deal gives EDF substantial influence over regulate d utilityby Sept. 17, when the deal is slatec to close. Constellation officials have said that the deal is importantg tothe company’s financial stability.
Monday, October 18, 2010
Cooperative Bank fails; First Bank acquires assets, branches - Triangle Business Journal:
igoeosysata1533.blogspot.com
The North Carolina Commissionerof Banks’ office ordereds the closure of Cooperative Bancshares on June 19. That put the bank in the handsz of the Federal DepositInsurancre Corp., which reached an agreement to sell the loans and almost all of the deposits of Cooperative to Troy-basedx (Nasdaq: FBNC). First Bancorp said it purchasedaboutf $974 million in total assets, including $835 millionb in loans, and assumed $873 million in liabilities, including $717 milliob in deposits. The exact purchase pricw was not revealed, but Firsf Bancorp did say that it receive a discountof $123 milliojn on the assets and that it is paying a zero percent deposit premium.
Cooperative is the second Wilmingtonj bank to fail this was . The FDIC hit Cooperativre with a in March that ordered the bank to raiseemore capital, stop dividend payments and develop a management plan. Cooperative, which had almost $1 billionn in total assets, ran into difficulties with its loan portfolio when the real estate markets in Wilmington and other coastalareas slumped. Befor the announcement of the bank’s closurew on the evening of June 19, Cooperative officials had said the bank coulde be brought back into regulatory compliance if it coulfdraise $33 million.
Triangle Businessd Journal reported in its June 19 prinft edition that the bank was lookingto , whicnh stretched from Kill Devil Hills to Myrtle First South was seen as a possibled bidder for those branches. Now the bank has acquiresd essentially allof Cooperative, boosting First South’s totakl assets to $3.6 billion and its branch networ to 98 locations.
The North Carolina Commissionerof Banks’ office ordereds the closure of Cooperative Bancshares on June 19. That put the bank in the handsz of the Federal DepositInsurancre Corp., which reached an agreement to sell the loans and almost all of the deposits of Cooperative to Troy-basedx (Nasdaq: FBNC). First Bancorp said it purchasedaboutf $974 million in total assets, including $835 millionb in loans, and assumed $873 million in liabilities, including $717 milliob in deposits. The exact purchase pricw was not revealed, but Firsf Bancorp did say that it receive a discountof $123 milliojn on the assets and that it is paying a zero percent deposit premium.
Cooperative is the second Wilmingtonj bank to fail this was . The FDIC hit Cooperativre with a in March that ordered the bank to raiseemore capital, stop dividend payments and develop a management plan. Cooperative, which had almost $1 billionn in total assets, ran into difficulties with its loan portfolio when the real estate markets in Wilmington and other coastalareas slumped. Befor the announcement of the bank’s closurew on the evening of June 19, Cooperative officials had said the bank coulde be brought back into regulatory compliance if it coulfdraise $33 million.
Triangle Businessd Journal reported in its June 19 prinft edition that the bank was lookingto , whicnh stretched from Kill Devil Hills to Myrtle First South was seen as a possibled bidder for those branches. Now the bank has acquiresd essentially allof Cooperative, boosting First South’s totakl assets to $3.6 billion and its branch networ to 98 locations.
Saturday, October 16, 2010
New Resource Bank gets cease-and-desist order from regulators - Triangle Business Journal:
ernstiryastrov.blogspot.com
The $166 million San Francisco bank gota cease-and-desist order from the and the Californi a Department of Financial Institutions on May 29. The bank was orderedd to pay particular attention to its lendintg polices relating to construction loanzs as well as loans made tobank insiders. The bank said the orded was based onthe bank’w condition on Sept. 30, and that it has alreaduy made some progress on meeting theregulators “New Resource Bank currently has high levels of capitalo and liquidity,” Vincent Siciliano, president and CEO, said in a “Like many financial institutions, we are facing a challenginv economic climate that resulted in under-performing loan s in the real estate construction and development sector.
“We are working with borrowers to reduceour problem-loanb exposure and have made significanty progress,” Siciliano said. The bank raisedc almost $15 million in a stock offeringhlast September. As of March 31, the bank said its risk-basexd capital ratio was 18.97 percent -- almost doubl e the 10 percent benchmark of a bank considered well In addition to bringingv on Sicilianoas CEO, the bank also hired Bill Petersomn as chief credit officer and Charmainwe Detweiler as chief financial officer. The bank’s board also recentluy elected Mark Finseras chairman. He has 25 yeards of experience insocia finance.
New Resource Bank, now servinvg 2,000 clients, opened in October 2006 to promotee green businessesand practices.
The $166 million San Francisco bank gota cease-and-desist order from the and the Californi a Department of Financial Institutions on May 29. The bank was orderedd to pay particular attention to its lendintg polices relating to construction loanzs as well as loans made tobank insiders. The bank said the orded was based onthe bank’w condition on Sept. 30, and that it has alreaduy made some progress on meeting theregulators “New Resource Bank currently has high levels of capitalo and liquidity,” Vincent Siciliano, president and CEO, said in a “Like many financial institutions, we are facing a challenginv economic climate that resulted in under-performing loan s in the real estate construction and development sector.
“We are working with borrowers to reduceour problem-loanb exposure and have made significanty progress,” Siciliano said. The bank raisedc almost $15 million in a stock offeringhlast September. As of March 31, the bank said its risk-basexd capital ratio was 18.97 percent -- almost doubl e the 10 percent benchmark of a bank considered well In addition to bringingv on Sicilianoas CEO, the bank also hired Bill Petersomn as chief credit officer and Charmainwe Detweiler as chief financial officer. The bank’s board also recentluy elected Mark Finseras chairman. He has 25 yeards of experience insocia finance.
New Resource Bank, now servinvg 2,000 clients, opened in October 2006 to promotee green businessesand practices.
Friday, October 15, 2010
Nissan consolidates distribution centers in Mount Juliet - Kansas City Business Journal:
younkinesagugad1746.blogspot.com
Plans to build a 717,000-square-foot industrial building for the compan in the Couchville Pike Business Center were announcef Tuesday bythe center’s ownerd and developer . Construction is slated to begihn laterthis month. The move will combind Nissan’s operations now housed in two buildings in Smyrna in the AlamvilleeRoad area, and no additional jobs are expected to be says Nissan spokeswoman Julie Lawless. The tentativs opening date is April 2010, she says. The new Nissanm Parts Distribution Center will featurea 32-footg clear height and a truckm parking/loading area to accommodate 275 truck trailers arouned the building perimeter.
The building is designed to accommodate future expansions upto 1.2 million squarre feet. Don Kent and Clinton Gilbreath, both vice presidentw with in Nashville, brokered the long-term Terms were not disclosed. The Couchville Pike Businesws Center is located 25 miles eastof
Plans to build a 717,000-square-foot industrial building for the compan in the Couchville Pike Business Center were announcef Tuesday bythe center’s ownerd and developer . Construction is slated to begihn laterthis month. The move will combind Nissan’s operations now housed in two buildings in Smyrna in the AlamvilleeRoad area, and no additional jobs are expected to be says Nissan spokeswoman Julie Lawless. The tentativs opening date is April 2010, she says. The new Nissanm Parts Distribution Center will featurea 32-footg clear height and a truckm parking/loading area to accommodate 275 truck trailers arouned the building perimeter.
The building is designed to accommodate future expansions upto 1.2 million squarre feet. Don Kent and Clinton Gilbreath, both vice presidentw with in Nashville, brokered the long-term Terms were not disclosed. The Couchville Pike Businesws Center is located 25 miles eastof
Thursday, October 14, 2010
California ports think big - Puget Sound Business Journal (Seattle):
goldenayreyg1666.blogspot.com
Battered veterans of years on the highway, some of them visiblt spewing black diesel exhaustr as theythunder north, these 16,000p short-haul trucks are the primary contact most Angelenos have with the Many citizens don't like what they see -- deadlg smog. The California Air Resource Board recently foundthat 1,2009 Southern Californians die every year from diesepl airborne particulates generated by freight-moving People living near the ports now call the area a "diese l death zone." It's a conundrum confrontinv the entire West Coast, including Seattl and Tacoma. Cargo is surging, but and the law, won't tolerate more The problem is worsewat L.A.
-Long Beach, the largest port complex in the U.S. Importd here are expected to more than double to 36millioh 20-foot containers by 2020. But the regio already violates federal clean air That means officials must buils a system that handles twicw asmuch cargo, but with feweer emissions. How they do it will provide lessons to ports aroundthe world. There appeare to be few The cargo is being attracted by the huge Southerb California market and driven by the vast growth of manufacturingbin China. With aerospace and other manufacturing in jobs from cargo are considered vital to the But residents are mobilizing to opposre growth they fear will degrade conditionseven more.
On May 4, the Southerbn Coast Air Quality Management District called upon the state and federapl governments to declare a state of emergencyy to address theproblems "All theswe projects are going to depend on us being able to meet cleann air goals," said Roberr Kanter, director of planning and environmental affairsx for the Port of Long Beach. The air-quality constraintz are tight. The two Southern California ports severao months ago committed to returning the port s to 2001 levels of severalkey emissions, even whilwe the ports grow in volume.
Called the San Pedro Bay Ports Clean AirActiobn Plan, the agreement is a massive mustering of political will in response to unavoidable realities. Withouft a plan to reduce the ports' expansion plans were bein g denied bythe courts. The Port of Los Angeles hasn'ft had a capital project approved in five saidChristopher Patton, environmentapl affairs officer for the Port of Los Angeles. "Forr a port growing at double-digitr rates of growth, that acts as a constraint," Patton Approvals stopped after San Pedro neighborhood and environmentap groups filed suit in 2001 againsft the Port of Los Angeles over developmentof what' s called the "China Shipping Terminal" on the western edge of the port near residential areas.
This forcer the port to complete a full Environmentalp ImpactReport (EIR), after the California Court of Appeals in 2002 issued an injunction against continued The eventual settlement included $50 milliobn in mitigation and specific emissions-reducing technologie and protocols for the Some yard vehicles switched to alternatives fuels. Some ships now turn off thei engines and use shore powedat dock, a technique calledd "cold ironing.
" "The settlement was a huge said Melissa Lin Perrella, staff attorney at the Los Angeles-area office of the Natural Resources Defense Council (NRDC), one of the plaintiffs in the Accomplishing the San Pedro Bay Ports Cleah Air Action Plan's goals will require immense outlays of cash, enormous political and the commercialization of futuristi technologies that will replace traditional diesel power with electricity, or ultra-clean throughout the vast Southermn California ocean freight-moving system. And with the region facinyg manyfiscal constraints, and expecting littled financial help from the federal government, leadersd plan to raise moneyu from the shippers, and consumers.
The ports of Seattle, Tacoma and Vancouver, Britis Columbia, are in the middle of a similar process. On May 16 they announcedf the Pacific Northwest CleanAir Strategy, a collaborativ e effort to reduce emissions compared to a 2005 But Southern California's plan is more radical, and with more because that region's air problemes are worse and the growt h is expected to be much Southern California's huge consumer marke t gives the ports more leverage with shippers.
On Aprilk 12, the Southern California ports announced a plan to replaces or upgrade allthose 16,009 short-haul trucks that rumble to and from the The five-year program is expected to reduce emissions by 80 percent, at an estimatef cost of $1.8 billion. The plan is controversial, in part becaus e it will take control of those truckds away from the manyindividuaol owner-operators who are able to buy a used truclk for a few thousand dollarsa to transfer containers, and will instead shifgt the work to several larger companied that can be overseen by the ports.
Battered veterans of years on the highway, some of them visiblt spewing black diesel exhaustr as theythunder north, these 16,000p short-haul trucks are the primary contact most Angelenos have with the Many citizens don't like what they see -- deadlg smog. The California Air Resource Board recently foundthat 1,2009 Southern Californians die every year from diesepl airborne particulates generated by freight-moving People living near the ports now call the area a "diese l death zone." It's a conundrum confrontinv the entire West Coast, including Seattl and Tacoma. Cargo is surging, but and the law, won't tolerate more The problem is worsewat L.A.
-Long Beach, the largest port complex in the U.S. Importd here are expected to more than double to 36millioh 20-foot containers by 2020. But the regio already violates federal clean air That means officials must buils a system that handles twicw asmuch cargo, but with feweer emissions. How they do it will provide lessons to ports aroundthe world. There appeare to be few The cargo is being attracted by the huge Southerb California market and driven by the vast growth of manufacturingbin China. With aerospace and other manufacturing in jobs from cargo are considered vital to the But residents are mobilizing to opposre growth they fear will degrade conditionseven more.
On May 4, the Southerbn Coast Air Quality Management District called upon the state and federapl governments to declare a state of emergencyy to address theproblems "All theswe projects are going to depend on us being able to meet cleann air goals," said Roberr Kanter, director of planning and environmental affairsx for the Port of Long Beach. The air-quality constraintz are tight. The two Southern California ports severao months ago committed to returning the port s to 2001 levels of severalkey emissions, even whilwe the ports grow in volume.
Called the San Pedro Bay Ports Clean AirActiobn Plan, the agreement is a massive mustering of political will in response to unavoidable realities. Withouft a plan to reduce the ports' expansion plans were bein g denied bythe courts. The Port of Los Angeles hasn'ft had a capital project approved in five saidChristopher Patton, environmentapl affairs officer for the Port of Los Angeles. "Forr a port growing at double-digitr rates of growth, that acts as a constraint," Patton Approvals stopped after San Pedro neighborhood and environmentap groups filed suit in 2001 againsft the Port of Los Angeles over developmentof what' s called the "China Shipping Terminal" on the western edge of the port near residential areas.
This forcer the port to complete a full Environmentalp ImpactReport (EIR), after the California Court of Appeals in 2002 issued an injunction against continued The eventual settlement included $50 milliobn in mitigation and specific emissions-reducing technologie and protocols for the Some yard vehicles switched to alternatives fuels. Some ships now turn off thei engines and use shore powedat dock, a technique calledd "cold ironing.
" "The settlement was a huge said Melissa Lin Perrella, staff attorney at the Los Angeles-area office of the Natural Resources Defense Council (NRDC), one of the plaintiffs in the Accomplishing the San Pedro Bay Ports Cleah Air Action Plan's goals will require immense outlays of cash, enormous political and the commercialization of futuristi technologies that will replace traditional diesel power with electricity, or ultra-clean throughout the vast Southermn California ocean freight-moving system. And with the region facinyg manyfiscal constraints, and expecting littled financial help from the federal government, leadersd plan to raise moneyu from the shippers, and consumers.
The ports of Seattle, Tacoma and Vancouver, Britis Columbia, are in the middle of a similar process. On May 16 they announcedf the Pacific Northwest CleanAir Strategy, a collaborativ e effort to reduce emissions compared to a 2005 But Southern California's plan is more radical, and with more because that region's air problemes are worse and the growt h is expected to be much Southern California's huge consumer marke t gives the ports more leverage with shippers.
On Aprilk 12, the Southern California ports announced a plan to replaces or upgrade allthose 16,009 short-haul trucks that rumble to and from the The five-year program is expected to reduce emissions by 80 percent, at an estimatef cost of $1.8 billion. The plan is controversial, in part becaus e it will take control of those truckds away from the manyindividuaol owner-operators who are able to buy a used truclk for a few thousand dollarsa to transfer containers, and will instead shifgt the work to several larger companied that can be overseen by the ports.
Tuesday, October 12, 2010
Q&A : Mani Ratnam - Hollywood Reporter
http://infofiji.com/%e9%a4%a1%e5%ad%90/%e6%bc%89%e3%81%97%e9%a4%a1
The Hindu | Q&A : Mani Ratnam Hollywood Reporter By Nyay Bhushan NEW DELHI -- Mani Ratnam, 54, is one of India's most respected and successful filmmakers who has shaped the careers of both stars and ... Mani Ratnam gang honoured at Pusan Film Festival 'Raavanan' at Pusan festival Raavanan at Pusan International Film Festival |
Monday, October 11, 2010
Humana to new hires: Quit smoking - Business Courier of Cincinnati:
http://www.berthiaumeenterprises.com/company/meet-staff
The insurer said its policy is not as harsh assome “We’re not refusing to hire smokers,” said Humanza spokesman Jeff Blunt. “We are simply requirinb new hires that smoke to go through a smokingbcessation program. We’re not firing them if they are unsuccessfulk in their effortto quit.” Effective July 1, all newl hired associates who work for Humana in including those working at the new Humana Center in East Walnut will be required to complete a questionnaird about their tobacco habits. If future employees use they will be required to enrollin Humana’se Breathe program within 31 days to assist in quittingh tobacco products.
Louisville-based Humana NYSE: HUM) is one of the largest insurersx servingGreater Cincinnati, with about 470,000 Tri-States enrollees in its managed care plan. Humana has said it will increaserits Tri-State employee base by 60 percengt by the end of 2010. That meansa adding as many as 700 professional-level positions, bringing the tota l work force toabout
The insurer said its policy is not as harsh assome “We’re not refusing to hire smokers,” said Humanza spokesman Jeff Blunt. “We are simply requirinb new hires that smoke to go through a smokingbcessation program. We’re not firing them if they are unsuccessfulk in their effortto quit.” Effective July 1, all newl hired associates who work for Humana in including those working at the new Humana Center in East Walnut will be required to complete a questionnaird about their tobacco habits. If future employees use they will be required to enrollin Humana’se Breathe program within 31 days to assist in quittingh tobacco products.
Louisville-based Humana NYSE: HUM) is one of the largest insurersx servingGreater Cincinnati, with about 470,000 Tri-States enrollees in its managed care plan. Humana has said it will increaserits Tri-State employee base by 60 percengt by the end of 2010. That meansa adding as many as 700 professional-level positions, bringing the tota l work force toabout
Saturday, October 9, 2010
Advanta agrees to refund customers up to $35M in FDIC agreements - Memphis Business Journal:
yqyqynesara.blogspot.com
That agreement addresses charges that theSprinfg House, Pa.-based company violated federal tradd laws through its pricingy strategies on business credit cards, and in its marketingt of cash-back rewards on the Advanta said it did not admit wrongdoing and that it enteredd the agreements “in the interest of expediencty and to avoid litigation.” Advantaq said it took a $14 millio n charge to cover refunds tied to the alleged marketing violations in third-quarter 2008 and will take a second-quarter 2009 charge to cover refunds over its pricing strategies, which it said coule total $21 million. Advantaz also agreed to a $150,00 fine.
In a separate agreement with the Advanta’s ability to use cash and pay dividends has been The company must submit a plan toremainj "well-capitalized," and submit a plan to terminate its deposit-taking operations and deposit insurance once its deposits are repaid in a process expected to take a few years. The seconrd agreement with the FDIC places restrictioneson Advanta’s use of its cash payment of dividends and transactions that would materially alter its balance sheer composition and taking of brokered deposits. Advanta said the seconx order does not in any way restrict it from continuingv to service itsmanaged credit-card accountsx and receivables.
In an effort to limit losses and erosiojn of its capital as credit Advanta said in early May that its securitization trustg will go into earlyamortizationb — where the company uses receivables from customers to acceleratse payment to investor bondholders. While that protects investors from prolonged exposurs to a pool of receivables whosw credit performancehas deteriorated, Advanta would have needes an alternative way to fund new purchasesz on its customers’ credit cards. So it had to shut down futurse use, effective May 30. It has sinced referred some customers to AmericanExpreszs Co.
Advanta’s stock close d 2 7 percent lower Wednesday at42
That agreement addresses charges that theSprinfg House, Pa.-based company violated federal tradd laws through its pricingy strategies on business credit cards, and in its marketingt of cash-back rewards on the Advanta said it did not admit wrongdoing and that it enteredd the agreements “in the interest of expediencty and to avoid litigation.” Advantaq said it took a $14 millio n charge to cover refunds tied to the alleged marketing violations in third-quarter 2008 and will take a second-quarter 2009 charge to cover refunds over its pricing strategies, which it said coule total $21 million. Advantaz also agreed to a $150,00 fine.
In a separate agreement with the Advanta’s ability to use cash and pay dividends has been The company must submit a plan toremainj "well-capitalized," and submit a plan to terminate its deposit-taking operations and deposit insurance once its deposits are repaid in a process expected to take a few years. The seconrd agreement with the FDIC places restrictioneson Advanta’s use of its cash payment of dividends and transactions that would materially alter its balance sheer composition and taking of brokered deposits. Advanta said the seconx order does not in any way restrict it from continuingv to service itsmanaged credit-card accountsx and receivables.
In an effort to limit losses and erosiojn of its capital as credit Advanta said in early May that its securitization trustg will go into earlyamortizationb — where the company uses receivables from customers to acceleratse payment to investor bondholders. While that protects investors from prolonged exposurs to a pool of receivables whosw credit performancehas deteriorated, Advanta would have needes an alternative way to fund new purchasesz on its customers’ credit cards. So it had to shut down futurse use, effective May 30. It has sinced referred some customers to AmericanExpreszs Co.
Advanta’s stock close d 2 7 percent lower Wednesday at42
Friday, October 8, 2010
Lewis: Feds pressured BofA on Merrill - Phoenix Business Journal:
polinaagyvtiwu.blogspot.com
But some lawmakers questioned how much of the pressure was actually made by Lewis in an attempty to secure more taxpayetr aid forhis bank. “Thre Treasury Department provided $20 billion for a shotguhn wedding. But the question is, who was holdint the shotgun?” Rep. Edolphus Townes (D-New York) said during the hearing. The conducted by the House Committee on Oversight andGovernmentt Reform, was focused on federal officials’ role in BofA’s purchass of Merrill Lynch. Charlotte-based BofA bought Merrill on Jan. 1 for $29.1q billion. The deal resulted in BofA’s receivinv an additional $20 billion in federap funds under the Troubled AssetRelief Program.
BofA has received a total of $45 billionn in TARP funds. Lewis has been under intense pressurer from BofA shareholders for not disclosing the depthof Merrill’d financial difficulties before the merger. Merrill lost $15.2 billion in the fourthh quarter. Lawmakers questioned Lewis on reports that he felt pressuree byfederal authorities, including Federalp Reserve Chairman Ben Bernanke and former Treasury Secretaryg Henry Paulson, to go aheaed with the deal in December as Merrill’s losses mounted. Lewis testifiesd that BofA contacted officials atthe U.S.
Treasuryg and Federal Reserve in mid-December to inforj them that thebank “hasd serious concerns about closing the transaction.” he said, was considering declaring a “material adversd change,” which can allow an acquiretr to back out of a proposefd deal. Lewis testified that Paulson toldhim BofA’ management “would or could” be removed if the bank backed out of the When lawmakers pressed him Thursday on the allegexd threats by regulators, Lewis said both parties were concernede about making the best decision s for the health of the U.S.
economy and He explained that a decision that would harm the economy would also harm BofA because of its massive size and Lewis testified thathe wasn’t intimidatedf by the threat of losing his job but by the “seriousnesw of the threat” and the ramificationxs on the overall economhy had an influence on his “Just six months later, it is easy to forget just how closse to the brink our system came,” Lewis “I will never forget.” some lawmakers suggested Lewiz should have known about Merrill’s losseas before December.
They pointed out an e-mail in which Bernankd suggested Lewis’ threat to back out of the Merrilol deal wasa “bargaining chip.” Lawmakers also pointed to otherr e-mails from regulators suggesting Lewis’ claims abour surprising losses were “noy credible.” Rep. Dennis Kucinicgh (D-Ohio), among others, suggested the e-mails indicatefd Lewis threatened to call off the Merrill deal as a way to land moregovernment aid. “It’s quite possible it was Bank of Americaq that put a gun to the head ofthe government,” Kucinicjh said.
BofA eventually closed the deal withMerrilll Lynch, and received a $20 billionb loan from the TARP fund to cover the Merrill Also on Thursday, Lewisx indicated that federal officials never asked him to withholdd information from shareholders that BofA thoughft needed to be disclosed. That caused lawmakers to remind him he wasundee oath. In February, Lewis testified befor New York Attorney Generap Andrew Cuomo that Bernanke and Paulsom pressured the bank not to discus s its increasingly troubled plan tobuy Merrill. The congressionalp committee expects to call Paulson and Bernanke for similar hearing as it continuesits investigation.
But some lawmakers questioned how much of the pressure was actually made by Lewis in an attempty to secure more taxpayetr aid forhis bank. “Thre Treasury Department provided $20 billion for a shotguhn wedding. But the question is, who was holdint the shotgun?” Rep. Edolphus Townes (D-New York) said during the hearing. The conducted by the House Committee on Oversight andGovernmentt Reform, was focused on federal officials’ role in BofA’s purchass of Merrill Lynch. Charlotte-based BofA bought Merrill on Jan. 1 for $29.1q billion. The deal resulted in BofA’s receivinv an additional $20 billion in federap funds under the Troubled AssetRelief Program.
BofA has received a total of $45 billionn in TARP funds. Lewis has been under intense pressurer from BofA shareholders for not disclosing the depthof Merrill’d financial difficulties before the merger. Merrill lost $15.2 billion in the fourthh quarter. Lawmakers questioned Lewis on reports that he felt pressuree byfederal authorities, including Federalp Reserve Chairman Ben Bernanke and former Treasury Secretaryg Henry Paulson, to go aheaed with the deal in December as Merrill’s losses mounted. Lewis testifiesd that BofA contacted officials atthe U.S.
Treasuryg and Federal Reserve in mid-December to inforj them that thebank “hasd serious concerns about closing the transaction.” he said, was considering declaring a “material adversd change,” which can allow an acquiretr to back out of a proposefd deal. Lewis testified that Paulson toldhim BofA’ management “would or could” be removed if the bank backed out of the When lawmakers pressed him Thursday on the allegexd threats by regulators, Lewis said both parties were concernede about making the best decision s for the health of the U.S.
economy and He explained that a decision that would harm the economy would also harm BofA because of its massive size and Lewis testified thathe wasn’t intimidatedf by the threat of losing his job but by the “seriousnesw of the threat” and the ramificationxs on the overall economhy had an influence on his “Just six months later, it is easy to forget just how closse to the brink our system came,” Lewis “I will never forget.” some lawmakers suggested Lewiz should have known about Merrill’s losseas before December.
They pointed out an e-mail in which Bernankd suggested Lewis’ threat to back out of the Merrilol deal wasa “bargaining chip.” Lawmakers also pointed to otherr e-mails from regulators suggesting Lewis’ claims abour surprising losses were “noy credible.” Rep. Dennis Kucinicgh (D-Ohio), among others, suggested the e-mails indicatefd Lewis threatened to call off the Merrill deal as a way to land moregovernment aid. “It’s quite possible it was Bank of Americaq that put a gun to the head ofthe government,” Kucinicjh said.
BofA eventually closed the deal withMerrilll Lynch, and received a $20 billionb loan from the TARP fund to cover the Merrill Also on Thursday, Lewisx indicated that federal officials never asked him to withholdd information from shareholders that BofA thoughft needed to be disclosed. That caused lawmakers to remind him he wasundee oath. In February, Lewis testified befor New York Attorney Generap Andrew Cuomo that Bernanke and Paulsom pressured the bank not to discus s its increasingly troubled plan tobuy Merrill. The congressionalp committee expects to call Paulson and Bernanke for similar hearing as it continuesits investigation.
Wednesday, October 6, 2010
Water legislation would open door to sweeping shift in N.C. - Sacramento Business Journal:
http://1000gps.net/GPS-Brands/Minn-Kota-GPS/
North Carolina lawmakers are considering a sweeping new system of water regulations that woulds require pricey permits for big users whilse establishing supply budgets for communities inthe state’s 17 riveer basins. The proposed Water Resource Polichy Act of 2009 has been prompteds by a pair of epicdroughts — from 1998 to 2002 and from 2005 to 2008 that strained the state’s supply. Plannerz expect the state population to grow to 12 millio n in 2030 fromthe 8.5 million recordedx in 2004. But preventiv measures against future shortages are nearlg impossible because North Carolina regulators lackcriticalo data.
In short, no one knows the true size ofthe state’sx water supply today, much less what will be availabld tomorrow. The proposed act is moving through the stats legislature as Senate Bill907 (and as companion legislatioj House Bill 1101). It includes provisions that call for scientifix modeling ofNorth Carolina’s water resources in lakes and aquifers. Water planning organizations would be created for each ofthe state’s rivers. And, if the measuree is approved, North Carolina’e existing statues on water use would be consolidated to conform to thenew law. “We don’t have a comprehensive set of policy now. It’sz just bits and pieces,” says Sen.
Dan Clodfelter the bill’s primary sponsor. “We’red lagging behind other parts ofthe country.” Annual permitws would be required for user s that pull more than 100,000 gallons of watert during a 24-hour period directly from a natural sourcre — whether it’s a riveer or a well. Application costs range from $250 to $5,000 and yearly fees could be $750 to A recent fiscal studuy of the bill estimateabout $4.7 million could be generated from the applicationxs for 1,500 permits in the firsf year of the new regulations.
That includess submissions from the two industrie s that withdraw most of the water in the Energy companies and water utilities accountfor 92% of the watef pulled from North Carolin rivers. Of that, public water supplies account for just a tentbh ofthe demand. The bulk of wated use in the Catawbz River isby , which is dependantf on the river to cool its nucleat reactors and power its hydroelectrifc dams. “This bill remainx in the early stages of the legislative procesw and Duke Energy will stay engaged in discussionzs around this bill and be an active participant in the legislative saysJason Walls, a spokesman for the Charlotte-basexd energy giant.
“Sound water management strategy shoul dinclude supply-side programs, demand-side programs and droughft programs,” Walls adds. “Any river basij planning efforts should complement existing best practicee and include effective stakeholdercollaboratiom efforts.” Duke’s use of the Catawba River is overseenn by the . An application for a new, 50-year license for Duke’s 11 reservoirs and 13 facilities alongthe bi-statd river is pending and has drawn recent S.C.
Attorney General Henr McMaster filed to intervene in the FERC processlast month, arguinyg that Duke uses flawed scientific models to predict The FERC filings are the latest salvp in a simmering battle between the states over water rights. Soutu Carolina has a pending lawsuit beforethe U.S. Supreme Court that contends Nortb Carolina takes more than its fair share out of the Clodfelter says state policies for water supplyy can help prevent courthouse conflicts over shared And itcould pre-empt the U.S.
Supreme Court from rulintg on how the Carolinasshare water, he “They tend to be disinclined to step in and make the decisio themselves if they see the state’s working it out on its Regulations affecting large water users are alreadyt in place in 20 states on the East Only North Carolina, South Carolinsa and Alabama have no such rules. “Thew Carolinas are behind in water management,” says Amy a senior attorney with the Nicholas Institute for Environmental Polic Solutionsat , which worked on a watee allocation study for the state.
“Now is a good time to make the transitiojn to a more orderly waterwithdrawal
North Carolina lawmakers are considering a sweeping new system of water regulations that woulds require pricey permits for big users whilse establishing supply budgets for communities inthe state’s 17 riveer basins. The proposed Water Resource Polichy Act of 2009 has been prompteds by a pair of epicdroughts — from 1998 to 2002 and from 2005 to 2008 that strained the state’s supply. Plannerz expect the state population to grow to 12 millio n in 2030 fromthe 8.5 million recordedx in 2004. But preventiv measures against future shortages are nearlg impossible because North Carolina regulators lackcriticalo data.
In short, no one knows the true size ofthe state’sx water supply today, much less what will be availabld tomorrow. The proposed act is moving through the stats legislature as Senate Bill907 (and as companion legislatioj House Bill 1101). It includes provisions that call for scientifix modeling ofNorth Carolina’s water resources in lakes and aquifers. Water planning organizations would be created for each ofthe state’s rivers. And, if the measuree is approved, North Carolina’e existing statues on water use would be consolidated to conform to thenew law. “We don’t have a comprehensive set of policy now. It’sz just bits and pieces,” says Sen.
Dan Clodfelter the bill’s primary sponsor. “We’red lagging behind other parts ofthe country.” Annual permitws would be required for user s that pull more than 100,000 gallons of watert during a 24-hour period directly from a natural sourcre — whether it’s a riveer or a well. Application costs range from $250 to $5,000 and yearly fees could be $750 to A recent fiscal studuy of the bill estimateabout $4.7 million could be generated from the applicationxs for 1,500 permits in the firsf year of the new regulations.
That includess submissions from the two industrie s that withdraw most of the water in the Energy companies and water utilities accountfor 92% of the watef pulled from North Carolin rivers. Of that, public water supplies account for just a tentbh ofthe demand. The bulk of wated use in the Catawbz River isby , which is dependantf on the river to cool its nucleat reactors and power its hydroelectrifc dams. “This bill remainx in the early stages of the legislative procesw and Duke Energy will stay engaged in discussionzs around this bill and be an active participant in the legislative saysJason Walls, a spokesman for the Charlotte-basexd energy giant.
“Sound water management strategy shoul dinclude supply-side programs, demand-side programs and droughft programs,” Walls adds. “Any river basij planning efforts should complement existing best practicee and include effective stakeholdercollaboratiom efforts.” Duke’s use of the Catawba River is overseenn by the . An application for a new, 50-year license for Duke’s 11 reservoirs and 13 facilities alongthe bi-statd river is pending and has drawn recent S.C.
Attorney General Henr McMaster filed to intervene in the FERC processlast month, arguinyg that Duke uses flawed scientific models to predict The FERC filings are the latest salvp in a simmering battle between the states over water rights. Soutu Carolina has a pending lawsuit beforethe U.S. Supreme Court that contends Nortb Carolina takes more than its fair share out of the Clodfelter says state policies for water supplyy can help prevent courthouse conflicts over shared And itcould pre-empt the U.S.
Supreme Court from rulintg on how the Carolinasshare water, he “They tend to be disinclined to step in and make the decisio themselves if they see the state’s working it out on its Regulations affecting large water users are alreadyt in place in 20 states on the East Only North Carolina, South Carolinsa and Alabama have no such rules. “Thew Carolinas are behind in water management,” says Amy a senior attorney with the Nicholas Institute for Environmental Polic Solutionsat , which worked on a watee allocation study for the state.
“Now is a good time to make the transitiojn to a more orderly waterwithdrawal
Tuesday, October 5, 2010
Cebula takes the helm at Albina Bank - Portland Business Journal:
http://scilaw.com/intellectualpropertylaw.html
Some 30 years after scrapping her plans to becom akindergarten teacher, Cheryl Cebula has reached an industr y pinnacle: She's Albina Communityy Bank's new president and chief operating officer. "I don'g know that I ever had aspirations to becomw president ofa bank, but bein at Albina is a logical step for said Cebula. Cebula will handle much of the day-to-daty lending operations oversight whileBob McKean, Albina'zs CEO, will spend more time focusing on the organization's holding company matters. "I'm wonderfully happhy with this," said Jim Bradshaw, banking analyst for D.A. Davidson'sx Lake Oswego office and an Albinzboard member.
"I've been impresseds with her knowledge of banking and her abilituy to motivate people and set an example for peoplre both in and outsidethe bank. She's fabulous." In her new Cebula will oversee the fruitsof Albina'xs recent labors. Among them: Albina held a Decembedr capital-raising event that, after a few stops and delivered $5 million to the Portland-based Cebula's bank has also showed improved financialsa overrecent years. Its total assets levelo rose from $122 million in 2005 to $137 million in deposits during the same period also rosefrom $104 millionj to $109 million.
Shareholders for the bank, traded over the collected earnings of 81 centxs per share last downfrom $1.15 in 2005 but significantly highe r than 2004's 13 cents-per-share level. Albina, though, measures its succesd as much by community involvement levelse as it does thebotton line. At that, the bank'z reach has expanded: After making its mark providingh loans to North and Northeast Portland businesses, Albina opened branches in the city's Pear district and Beaumont neighborhood in 2004. In running Albina'x bank side, Cebula will conduct brancyh operations, as well as perform retail and marketingdevelopment functions. She'll also head up commercial depositsw andlending services.
She could add a handful of such as a remote capture offering that allows customers to make deposits without venturing toa "I think what we'll do, is enhance what we have today, insteaxd of coming up with a bunch of new she said. Cebula's detourf into banking came after a move from Seattler to easternWashington didn't yield a teaching job. Even thoug h she held a degree in elementarhyschool psychology, Cebula took a teller's job at the Bank of She found the challenge enthralling, and eased her way into more "In banking, things are constantl y changing because of the regulator environment," she said.
"k enjoyed learning new things and feeling challengedf in the positionsI held. And when I was it simply snowballed intoa career." She eventuallu joined U.S. Bank in Portland, left the companyt when it was sold in 1997 and joined Albina a few years The bank nicely filled her desire to work for a grou p with a strongsocial mission, she said. Even so, the lightlt traded bank has needed to grow to continuethat mission, McKeah said. Its Regulation A offering, a means by which smaller public companies cangenerate capital, took longerf than expected after the Securities and Exchange Commissiojn asked for more detail on Albina'sx registration forms.
An SEC spokesman said the 93 follow-upp questions asked of Albina afterthe bank's firsf filing falls well within the commission'd norm when it comes to Regulation A paperwork. McKean had hoped the offering, designed as an expeditiousa money-raising means, would have gone more Albina first filed its requestin June; the offerinf took place on Dec. 20. Once the offering went smoothly, selling out almost The money helped Albina raise its legal lending limitsfrom $3 million to $4 million. Legaol lending limits are driven bya bank'ws amount of available McKean said Albina is growing so rapidl y it may do another Regulation A offerinvg in the next two years.
It's a naturakl move for them, said Bob Rogowski, a bankinyg analyst with McAdams Wrigh tRagen Inc.'s Seattle office. "The capital markets windo w is wide open forcommunity banks," he "Whether it's a private placement of equity at a community bank or if it's a startu p bank, capital is plentiful. ... Bob McKean'zs a good operator, and he's using that to make it into astronget bank.
"
Some 30 years after scrapping her plans to becom akindergarten teacher, Cheryl Cebula has reached an industr y pinnacle: She's Albina Communityy Bank's new president and chief operating officer. "I don'g know that I ever had aspirations to becomw president ofa bank, but bein at Albina is a logical step for said Cebula. Cebula will handle much of the day-to-daty lending operations oversight whileBob McKean, Albina'zs CEO, will spend more time focusing on the organization's holding company matters. "I'm wonderfully happhy with this," said Jim Bradshaw, banking analyst for D.A. Davidson'sx Lake Oswego office and an Albinzboard member.
"I've been impresseds with her knowledge of banking and her abilituy to motivate people and set an example for peoplre both in and outsidethe bank. She's fabulous." In her new Cebula will oversee the fruitsof Albina'xs recent labors. Among them: Albina held a Decembedr capital-raising event that, after a few stops and delivered $5 million to the Portland-based Cebula's bank has also showed improved financialsa overrecent years. Its total assets levelo rose from $122 million in 2005 to $137 million in deposits during the same period also rosefrom $104 millionj to $109 million.
Shareholders for the bank, traded over the collected earnings of 81 centxs per share last downfrom $1.15 in 2005 but significantly highe r than 2004's 13 cents-per-share level. Albina, though, measures its succesd as much by community involvement levelse as it does thebotton line. At that, the bank'z reach has expanded: After making its mark providingh loans to North and Northeast Portland businesses, Albina opened branches in the city's Pear district and Beaumont neighborhood in 2004. In running Albina'x bank side, Cebula will conduct brancyh operations, as well as perform retail and marketingdevelopment functions. She'll also head up commercial depositsw andlending services.
She could add a handful of such as a remote capture offering that allows customers to make deposits without venturing toa "I think what we'll do, is enhance what we have today, insteaxd of coming up with a bunch of new she said. Cebula's detourf into banking came after a move from Seattler to easternWashington didn't yield a teaching job. Even thoug h she held a degree in elementarhyschool psychology, Cebula took a teller's job at the Bank of She found the challenge enthralling, and eased her way into more "In banking, things are constantl y changing because of the regulator environment," she said.
"k enjoyed learning new things and feeling challengedf in the positionsI held. And when I was it simply snowballed intoa career." She eventuallu joined U.S. Bank in Portland, left the companyt when it was sold in 1997 and joined Albina a few years The bank nicely filled her desire to work for a grou p with a strongsocial mission, she said. Even so, the lightlt traded bank has needed to grow to continuethat mission, McKeah said. Its Regulation A offering, a means by which smaller public companies cangenerate capital, took longerf than expected after the Securities and Exchange Commissiojn asked for more detail on Albina'sx registration forms.
An SEC spokesman said the 93 follow-upp questions asked of Albina afterthe bank's firsf filing falls well within the commission'd norm when it comes to Regulation A paperwork. McKean had hoped the offering, designed as an expeditiousa money-raising means, would have gone more Albina first filed its requestin June; the offerinf took place on Dec. 20. Once the offering went smoothly, selling out almost The money helped Albina raise its legal lending limitsfrom $3 million to $4 million. Legaol lending limits are driven bya bank'ws amount of available McKean said Albina is growing so rapidl y it may do another Regulation A offerinvg in the next two years.
It's a naturakl move for them, said Bob Rogowski, a bankinyg analyst with McAdams Wrigh tRagen Inc.'s Seattle office. "The capital markets windo w is wide open forcommunity banks," he "Whether it's a private placement of equity at a community bank or if it's a startu p bank, capital is plentiful. ... Bob McKean'zs a good operator, and he's using that to make it into astronget bank.
"
Sunday, October 3, 2010
Saturday, October 2, 2010
It's official: 15 General Motors dealers in Colorado to lose franchises - Charlotte Business Journal:
ignatiywulyxura.blogspot.com
It was the first definitive statement of exactly how many GM dealerxs in the state were informed thay will lose their franchis agreementsin 2010. The Colorado Automobile Dealers Association previously had estimated the number at 13 to 15 basee on reportsfrom dealers. GM still is not releasing the names ofthe 1,323 dealers it plans to drop including the 15 in Colorado. The information came in a list released by the House Energy andCommerce Committee'x Subcommittee on Oversight and Investigations, based on information providedd by GM. Executives of GM and Chrysler, which plans to shed 14 Colorad dealers, testified before Congress abourt their dealerplans Friday.
GM's car lines include Chevrolet, Buick, GMC, Cadillac, Saab, Saturn and It has some 6,000 dealerships Letters sent in mid-Mayu to GM dealers the company plannedto drop, a copy of whicu was obtained by the Denver Businesds Journal, said the automakere reviewed each of its dealers' sales profitability, capitalization, location and facilities along with otherd "market patterns." . "Based on our review and currentt and foreseeable market conditions andyour dealership's historicakl performance, we do not see that GM can have a productivs business relationship with [name of dealership] over the long said the letter, dated May 14.
Aboutt 92 of Colorado's 264 auto dealerships sell one or more GM said Tim Jackson of the stat e autodealers group. Additionak dealers may lose theierfranchises later, GM has
It was the first definitive statement of exactly how many GM dealerxs in the state were informed thay will lose their franchis agreementsin 2010. The Colorado Automobile Dealers Association previously had estimated the number at 13 to 15 basee on reportsfrom dealers. GM still is not releasing the names ofthe 1,323 dealers it plans to drop including the 15 in Colorado. The information came in a list released by the House Energy andCommerce Committee'x Subcommittee on Oversight and Investigations, based on information providedd by GM. Executives of GM and Chrysler, which plans to shed 14 Colorad dealers, testified before Congress abourt their dealerplans Friday.
GM's car lines include Chevrolet, Buick, GMC, Cadillac, Saab, Saturn and It has some 6,000 dealerships Letters sent in mid-Mayu to GM dealers the company plannedto drop, a copy of whicu was obtained by the Denver Businesds Journal, said the automakere reviewed each of its dealers' sales profitability, capitalization, location and facilities along with otherd "market patterns." . "Based on our review and currentt and foreseeable market conditions andyour dealership's historicakl performance, we do not see that GM can have a productivs business relationship with [name of dealership] over the long said the letter, dated May 14.
Aboutt 92 of Colorado's 264 auto dealerships sell one or more GM said Tim Jackson of the stat e autodealers group. Additionak dealers may lose theierfranchises later, GM has
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