badillodacyroic1505.blogspot.com
The booked 522,541 future room nights in the past fiscal city tourism leaders said at a pressconference Monday. The which passed BACVA’s goal of 475,00p0 booked nights, is a 15.7 percent increase over nightx booked theprevious year. In 2008, BACVAw booked 451,608 future room Group business meetings comprise the new bookings and are projecterd to spend morethan $725 million in spendinv in the city. City and tourism officials credig the booking success tolast year’zs creation of the Baltimore Conventionm & Tourism Board, a joint board that oversees BACVAs and the .
“Our investmen in BACVA is payinhg off,” Mayor Sheila Dixon said Monday speaking in fronft ofthe city’s Inner Harbor tourism center. The formation of the board last year has allowed BACVA and the convention centeer to bemore coordinated, Dixon said. A new plethoras of hotels that opened or are under construction near the conventionj center from which businesses can choosee for bookings also contributed to an uptickin bookings.
The $300 milliohn publicly financedHilton Baltimore, which openeds last August, has 757 rooms and grew Baltimore’sa total hotel room reservoir to more than The B&O Building, on the corner of Charles and Baltimore streets, is expecte d to open as a Hotell Monaco with 208 rooms later this year. Baltimore can now accommodate 75 percenrt of the large citywide tradeshosw and convention business available in the marketplace with the newhotelse online, said BACVA CEO Tom Noonajn in a statement. Some of the conventions and groups booked in the 2009 fiscalo year included theannuak conventions, , American Association for Laboratory Animall Science, and .
Holding sales events and industrg tradeshows is also partof BACVA’s strategy for bringiny convention planners into the city to raise awarenesws about Baltimore. The Baltimore Businesw Journal A drop in hotel revenuedmeans BACVA’s budget will drop to $10.7 million for the year startedr July 1 — down from the $12 millionb it had in the past 12 months. This year’s fiscalo budget is the lowest sincethe agency’s $9.9 million spending packagse in 2006.
Thursday, December 30, 2010
Tuesday, December 28, 2010
GVA Advantis halts brokerage service - Atlanta Business Chronicle:
framptongeqeaqu1461.blogspot.com
It was unclear how the announcement would affecrt the Tampabrokerage office, which was the ninth larges commercial real estate broker in the Tampa Bay area in according to the Tampa Bay Business Journal Book of Washington-based Advantis Holdings will remain activee in the property management business and will continue to own and operatew Advantis Construction Co., states a Consolidation is common when commercial real estatee goes into a down cycle, said Larry Richey, senior managing director of “Imn every real estate down cycle, the pressurd mounts for commercial real estate serviced firms in the transaction business,” Richey said.
“The regionap firms, as opposed to national or global orsmall boutique, generallg have the most difficulty making it through the type of downturn that we’rre experiencing.” Global firms, such as Cushmahn & Wakefield and , have deeper financia resources and geographic diversity, Richey said. While smaller firmds don’t have as much overhead costs. “It’s those in the middle that often struggle in difficulteconomic times,” he Advantis Construction generates more than 75 percent of the company’s revenue and has consistentlu been the most profitable segment of the business, company Chairmaj Jeffrey Neal said in a statement.
Advantis Constructiohn will maintain officesin Atlanta, Tampa, N.C.; and Richmond and Norfolk, Va. Advantis Holdinges will continue to provide facilities management and corporate andadvisoryh services, states the release. To improve operating Advantis is pursuing a numbedr of possible joint venture or otheraffiliationm strategies. “One year ago, the leadership team believed we could successfully restructure the firm with a capital infusion,” Neal said in the “The economy has been unkind to our brokerage and transactionak business.
Our property management and construction service linexs have been and will continues tobe profitable, but the challenges brough on throughout our industry and that have negatively impacted our otheer business lines have led us to determine we must closd them effective immediately.” Commercial real estate investmentr sales have dropped dramatically since the capital markets meltdowm in the fall of according to Real Capital Analytics. Sales are off by more than two-thirds in most markets. And transactionap activity involving leasing is alsooff significantly.
“When I steppedc into the role of president, my primaryg goal was to evaluate our various business units and officesd with an eye on strengthening existing businesses and buildingh a foundation forregional growth,” said Tim “Although there were many positiv signs for future growth, the current economic environmenty clearly favors focusing attention and resources on constructionb and the consultative and advisory partsx of our business, wherd we have predictable revenue from repea t clients and customers.” The changexs have resulted in the closing of a numberf of the company’s offices, including Panama City, Washington, Northern Virginia and Newport Va.
, and Gulfport, Hague will transition his role as president to oversed corporate and advisory services, while Advantis Holdings will end its affiliation with the network during the third quarter.
It was unclear how the announcement would affecrt the Tampabrokerage office, which was the ninth larges commercial real estate broker in the Tampa Bay area in according to the Tampa Bay Business Journal Book of Washington-based Advantis Holdings will remain activee in the property management business and will continue to own and operatew Advantis Construction Co., states a Consolidation is common when commercial real estatee goes into a down cycle, said Larry Richey, senior managing director of “Imn every real estate down cycle, the pressurd mounts for commercial real estate serviced firms in the transaction business,” Richey said.
“The regionap firms, as opposed to national or global orsmall boutique, generallg have the most difficulty making it through the type of downturn that we’rre experiencing.” Global firms, such as Cushmahn & Wakefield and , have deeper financia resources and geographic diversity, Richey said. While smaller firmds don’t have as much overhead costs. “It’s those in the middle that often struggle in difficulteconomic times,” he Advantis Construction generates more than 75 percent of the company’s revenue and has consistentlu been the most profitable segment of the business, company Chairmaj Jeffrey Neal said in a statement.
Advantis Constructiohn will maintain officesin Atlanta, Tampa, N.C.; and Richmond and Norfolk, Va. Advantis Holdinges will continue to provide facilities management and corporate andadvisoryh services, states the release. To improve operating Advantis is pursuing a numbedr of possible joint venture or otheraffiliationm strategies. “One year ago, the leadership team believed we could successfully restructure the firm with a capital infusion,” Neal said in the “The economy has been unkind to our brokerage and transactionak business.
Our property management and construction service linexs have been and will continues tobe profitable, but the challenges brough on throughout our industry and that have negatively impacted our otheer business lines have led us to determine we must closd them effective immediately.” Commercial real estate investmentr sales have dropped dramatically since the capital markets meltdowm in the fall of according to Real Capital Analytics. Sales are off by more than two-thirds in most markets. And transactionap activity involving leasing is alsooff significantly.
“When I steppedc into the role of president, my primaryg goal was to evaluate our various business units and officesd with an eye on strengthening existing businesses and buildingh a foundation forregional growth,” said Tim “Although there were many positiv signs for future growth, the current economic environmenty clearly favors focusing attention and resources on constructionb and the consultative and advisory partsx of our business, wherd we have predictable revenue from repea t clients and customers.” The changexs have resulted in the closing of a numberf of the company’s offices, including Panama City, Washington, Northern Virginia and Newport Va.
, and Gulfport, Hague will transition his role as president to oversed corporate and advisory services, while Advantis Holdings will end its affiliation with the network during the third quarter.
Saturday, December 25, 2010
Wal-Mart ruling makes the state less attractive - Puget Sound Business Journal (Seattle):
firefighting-stringers.blogspot.com
Unfortunately, a recent decisionj by the state Court of Appeals undermines theGeneral Assembly’s goal. While the decision reacheed theright result, it did so for the wrongv reasons, and in the process introduced further uncertainty into Nortgh Carolina’s already-complicated corporate tax system. The case involved a comple schemeby Wal-Mart to reducre its state tax Wal-Mart tried to do this by transferring all of its Nortgh Carolina stores into a Delaware real estatde investment trust. The properties were then leased back from the trust toa Wal-Mart subsidiary. Why do this? Becauswe Delaware imposes practically no tax on real estateinvestment trusts.
Therefore Wal-Mart escapedc tax on the “rents” received by the Meanwhile, the operating company was able to deduct the it paid to the thereby reducing North Carolina The bottom linewas that, by movinhg the stores to the Delaware Wal-Mart reduced its North Carolinqa taxes by about $24 millionj over a five-year period. Clearly, the transfefr of the stores had no business purpos e other than to avoidstate taxes.
As it was a tax sham and should have been struck down for this The Courtof Appeals, however, decline to decide the case on the straight-forward basixs that Wal-Mart’s purpose in transferringb its stores was tax Instead, the Court ruled against Wal-Mar based on an interpretation of the Nortuh Carolina corporate tax statutes that significantly expandsd the Department of Revenue’s authority to require affiliated entitiesd (like the real estatse trust and the operating company) to combins their income for tax purposes.
In Norty Carolina, separate entities (even if affiliated) generally must file separate tax According tothe Court’s decision, however, any time related companiew engage in a “unitary the Department of Revenue has the authority to requirse them to combine theit income for tax purposes. The problem is that the Courtt gave noclear guidance, and there is none in the as to when the Department of Revenue will exercise its new-found Compounding this uncertainty is the fact that until instructed otherwis by the Department of Revenue, corporatwe taxpayers are required as a matter of statute to file separat returns for separate entities.
By the time a corporation receives the instructionb that it must file a combined return for multiple the corporation may be subject to interes tand penalties, as Wal-Mart was to the tune of over $4 North Carolina has made considerable effortw to make the state a more attractive home for businesses. Thesr efforts include the creation ofthe N.C. Business Court, whicj has issued consistent and well-reasoned opinions, as well as a currenr bill in the General Assembly to reduce the corporatsetax rate. But businesses seek certainty. The uncertainthy created by the Court’es decision in the Wal-Mart case undermines the efforts to attracty and retain businesses inNortjh Carolina.
Unfortunately, a recent decisionj by the state Court of Appeals undermines theGeneral Assembly’s goal. While the decision reacheed theright result, it did so for the wrongv reasons, and in the process introduced further uncertainty into Nortgh Carolina’s already-complicated corporate tax system. The case involved a comple schemeby Wal-Mart to reducre its state tax Wal-Mart tried to do this by transferring all of its Nortgh Carolina stores into a Delaware real estatde investment trust. The properties were then leased back from the trust toa Wal-Mart subsidiary. Why do this? Becauswe Delaware imposes practically no tax on real estateinvestment trusts.
Therefore Wal-Mart escapedc tax on the “rents” received by the Meanwhile, the operating company was able to deduct the it paid to the thereby reducing North Carolina The bottom linewas that, by movinhg the stores to the Delaware Wal-Mart reduced its North Carolinqa taxes by about $24 millionj over a five-year period. Clearly, the transfefr of the stores had no business purpos e other than to avoidstate taxes.
As it was a tax sham and should have been struck down for this The Courtof Appeals, however, decline to decide the case on the straight-forward basixs that Wal-Mart’s purpose in transferringb its stores was tax Instead, the Court ruled against Wal-Mar based on an interpretation of the Nortuh Carolina corporate tax statutes that significantly expandsd the Department of Revenue’s authority to require affiliated entitiesd (like the real estatse trust and the operating company) to combins their income for tax purposes.
In Norty Carolina, separate entities (even if affiliated) generally must file separate tax According tothe Court’s decision, however, any time related companiew engage in a “unitary the Department of Revenue has the authority to requirse them to combine theit income for tax purposes. The problem is that the Courtt gave noclear guidance, and there is none in the as to when the Department of Revenue will exercise its new-found Compounding this uncertainty is the fact that until instructed otherwis by the Department of Revenue, corporatwe taxpayers are required as a matter of statute to file separat returns for separate entities.
By the time a corporation receives the instructionb that it must file a combined return for multiple the corporation may be subject to interes tand penalties, as Wal-Mart was to the tune of over $4 North Carolina has made considerable effortw to make the state a more attractive home for businesses. Thesr efforts include the creation ofthe N.C. Business Court, whicj has issued consistent and well-reasoned opinions, as well as a currenr bill in the General Assembly to reduce the corporatsetax rate. But businesses seek certainty. The uncertainthy created by the Court’es decision in the Wal-Mart case undermines the efforts to attracty and retain businesses inNortjh Carolina.
Thursday, December 23, 2010
Maderis stepping down from Five Prime - Wichita Business Journal:
http://typomil.com/odkazy/weby.htm
The company has hired Julia Gregory, the former executive vice presidenr and chief financial officerat , as Maderis’ Maderis’ health condition was not disclosed, but she will continue to servew on Five Prime’s board of directorsx and as a consultant. Her final day on the job is June 18. “Gail’w leadership has been pivotal in the progress Five Prime has made in developinfg our pipeline and our newdiscovery platform,” said companh founder and executive chairman Dr. Lewis “Rusty” Williamd in a press release.
Maderis said the companyt had been looking for a replacement sincer late last year after doctorssaid "the 24/7 pace of a small-companyh CEO" could worsen her condition. Besides her dutieds at Five Prime, Maderis has been a cheerleadere for the MissionBay enclave, serving on the Mayor’sw . Five Prime, a privately held, 7-year-old companyu developing antibody and protein drugs for cancere andother diseases, was the first to locate in Mission Bay, takingh about 30,000 feet in the building on Owens Street. Earliet this year, it took an additional 5,000o square feet next door at 1700 Owens as it makes batches for its Phase I oncologygdrug program.
The timing of the executive change as Five Prime movea forward with its lead cance r programmakes Gregory’s appointment a cruciapl one. At Lexicon, Gregoryh was responsible for financin strategies, mergers and acquisitions, business operationsd and all financial managementand accounting. She raisedr about $1 billion in public and private equity, product developmenrt financing andother transactions. Gregory, who will join Five Prime’ws board, was an investment banker for more than 20 Atand Dillon, Read Co. Inc. she was head of healthcar and investment banking, leading several private and public equity deals as well as mergerdand acquisitions.
Gregory also is a member of the board of The andthe ’sx .
The company has hired Julia Gregory, the former executive vice presidenr and chief financial officerat , as Maderis’ Maderis’ health condition was not disclosed, but she will continue to servew on Five Prime’s board of directorsx and as a consultant. Her final day on the job is June 18. “Gail’w leadership has been pivotal in the progress Five Prime has made in developinfg our pipeline and our newdiscovery platform,” said companh founder and executive chairman Dr. Lewis “Rusty” Williamd in a press release.
Maderis said the companyt had been looking for a replacement sincer late last year after doctorssaid "the 24/7 pace of a small-companyh CEO" could worsen her condition. Besides her dutieds at Five Prime, Maderis has been a cheerleadere for the MissionBay enclave, serving on the Mayor’sw . Five Prime, a privately held, 7-year-old companyu developing antibody and protein drugs for cancere andother diseases, was the first to locate in Mission Bay, takingh about 30,000 feet in the building on Owens Street. Earliet this year, it took an additional 5,000o square feet next door at 1700 Owens as it makes batches for its Phase I oncologygdrug program.
The timing of the executive change as Five Prime movea forward with its lead cance r programmakes Gregory’s appointment a cruciapl one. At Lexicon, Gregoryh was responsible for financin strategies, mergers and acquisitions, business operationsd and all financial managementand accounting. She raisedr about $1 billion in public and private equity, product developmenrt financing andother transactions. Gregory, who will join Five Prime’ws board, was an investment banker for more than 20 Atand Dillon, Read Co. Inc. she was head of healthcar and investment banking, leading several private and public equity deals as well as mergerdand acquisitions.
Gregory also is a member of the board of The andthe ’sx .
Monday, December 20, 2010
Pope gives awards in honor of the Assumption of Virgin Mary - Catholic Sentinel
http://snipsly.com/2010/12/10/choosing-the-right-wood-flooring-for-your-home/
Pope gives awards in honor of the Assumption of Virgin Mary Catholic Sentinel VATICAN CITY â€" A recently founded Marian institute in India and a scholar of 16th-century Portuguese paintings were the co-winners of the 2010 Pontifical ... Pope rec » |
Saturday, December 18, 2010
Death Preceded Safety Agency's Warning on Ford Windstar - New York Times (blog)
xysecurakihir.blogspot.com
New York Times (blog) | Death Preceded Safety Agency's Warning on Ford Windstar New York Times (blog) The National Highway Traffic Safety Administration's unusual warning last month to owners of more than half a million recalled Ford ... |
Wednesday, December 15, 2010
Carrier and frigate respond to injury on sub - NavyTimes.com
xiwyxucupewox.blogspot.com
Carrier and frigate respond to injury on sub NavyTimes.com The carrier George HW Bush and the frigate Boone were ordered late Wednesday to make “best speed†to assist an ... Carrier Bush heads back to sea for injured sailor Bush carrier diverted to aid injured sailor 2 ships assisting injured sailor aboard sub |
Monday, December 13, 2010
Snow causes roof to collapse at Minnesota sports stadium - The Guardian
aleksanovlsys.blogspot.com
Globe and Mail | Snow causes roof to collapse at Minnesota sports stadium The Guardian A heavy blizzard causes rips in Minnesota stadium's inflatable roof. Fortunately nobody was hurt in its subsequent collapse. Metrodome Collapse Vikings Stadium Collapse - Talk About A Downer Minnesota Dome Collapse: Vikings' Quest For New Stadium Could Lead Them To Los ... |
Friday, December 10, 2010
Wilson promotes 'It's Time!' DVD, talks Lee - MLB.com
http://logbud.com/Selecting-Wood-Flooring-for-Your-Home-
Wilson promotes 'It's Time!' DVD, talks Lee MLB.com NEW YORK -- The Rangers' winningest pitcher and left-hander from their 2010 American League Championship ... |
Wednesday, December 8, 2010
Catholic Charities CEO resigns - Minneapolis / St. Paul Business Journal:
http://www.lcaonline.org/article/Distracted--Drowsy-Drivers-Pose-Dangers.html
“I am personally saddened by the requesft of Father John Estrem to takea one-year leave of absence from his priestl ministry,” the Most Rev. John Nienstedt, archbishop of St. Paul and said a news release. “Father John has been a highlyu valued priest in the parishes wher e he served as well as in his recent role as archdiocesam Director ofCatholic Charities,” Nienstedt said. Catholic like many other nonprofits acrossthe country, has , at the same time that the economix downtown causes more people to need help from charities.
Estremk said in a news release that servinv as CEO of Catholic Charities was adream job, adding that he remainsx committed to the agency’s vital work. “However, my life and careee have been on a single path for 30 Estrem said. “After great soul searching, I believe it is essentialk for me to step back and reflectg on the next phase of my careerf and decide how and where I can be of most Robert Spinner, a retired Allina Hospitals Clinics and previous chairman of Catholic Charities’ will serve as interim CEO as the charityu searches for a new chief executive.
Catholic 42 programs provide services rangintg from prenatal careto in-home care for the elderlyy in 12 counties in and around the Twin Cities. It annually serves more than 40,000 people, regardlessx of faith.
“I am personally saddened by the requesft of Father John Estrem to takea one-year leave of absence from his priestl ministry,” the Most Rev. John Nienstedt, archbishop of St. Paul and said a news release. “Father John has been a highlyu valued priest in the parishes wher e he served as well as in his recent role as archdiocesam Director ofCatholic Charities,” Nienstedt said. Catholic like many other nonprofits acrossthe country, has , at the same time that the economix downtown causes more people to need help from charities.
Estremk said in a news release that servinv as CEO of Catholic Charities was adream job, adding that he remainsx committed to the agency’s vital work. “However, my life and careee have been on a single path for 30 Estrem said. “After great soul searching, I believe it is essentialk for me to step back and reflectg on the next phase of my careerf and decide how and where I can be of most Robert Spinner, a retired Allina Hospitals Clinics and previous chairman of Catholic Charities’ will serve as interim CEO as the charityu searches for a new chief executive.
Catholic 42 programs provide services rangintg from prenatal careto in-home care for the elderlyy in 12 counties in and around the Twin Cities. It annually serves more than 40,000 people, regardlessx of faith.
Sunday, December 5, 2010
Scotts expansion in the works - Atlanta Business Chronicle:
http://khanriverlodge.com/index.php?option=com_content&view=article&id=19&Itemid=27
A resolution is moving through Marysville City Councik that would provide fora 10-year, 75 percentg property tax abatement valued at about $1 million for Scotts, one of Centrapl Ohio’s 50 largest employers and amongh its 10 largest publicd companies. Scotts is lookinvg to mount a $23 million project to build a 40,000-square-foot manufacturing facility that will retain 15 jobs and creat33 full-time and 39 part-timr positions, Marysville Administrator Jillian Froment The new plant would process coir, the outer husk of coconutas that’s used in Scotts’ EZ Seed “(The product) has seen successz and they can’t keep it on she said.
The proposed new manufacturingh jobs, Froment said, would generate an annualk payroll ofabout $3 million in the home to more than 1,000 Scottd employees. Scotts also has committed to find permanent spacr for 150 employees it has temporarily housec in portable school buildingas atits headquarters, Froment That will mean a new 20,000-square-foot cost details for which weren’rt available. “This is ensuring 150 jobs remain in Marysville instead of anothetr CentralOhio community,” Froment said. A Scottsx representative wasn’t immediately available for commentFriday afternoon.
Council clearex a first read of the proposed incentivw and could finalize the proposal as early asJuly 23, Fromentf said. A public hearing on the company’sz plans is set for July 9. Scotts (NYSE:SMG) in the year endec Sept. 30, 2008, lost $10.9 million on $2.98 billionb in revenue. The company has about 6,400 full-timer workers worldwide.
A resolution is moving through Marysville City Councik that would provide fora 10-year, 75 percentg property tax abatement valued at about $1 million for Scotts, one of Centrapl Ohio’s 50 largest employers and amongh its 10 largest publicd companies. Scotts is lookinvg to mount a $23 million project to build a 40,000-square-foot manufacturing facility that will retain 15 jobs and creat33 full-time and 39 part-timr positions, Marysville Administrator Jillian Froment The new plant would process coir, the outer husk of coconutas that’s used in Scotts’ EZ Seed “(The product) has seen successz and they can’t keep it on she said.
The proposed new manufacturingh jobs, Froment said, would generate an annualk payroll ofabout $3 million in the home to more than 1,000 Scottd employees. Scotts also has committed to find permanent spacr for 150 employees it has temporarily housec in portable school buildingas atits headquarters, Froment That will mean a new 20,000-square-foot cost details for which weren’rt available. “This is ensuring 150 jobs remain in Marysville instead of anothetr CentralOhio community,” Froment said. A Scottsx representative wasn’t immediately available for commentFriday afternoon.
Council clearex a first read of the proposed incentivw and could finalize the proposal as early asJuly 23, Fromentf said. A public hearing on the company’sz plans is set for July 9. Scotts (NYSE:SMG) in the year endec Sept. 30, 2008, lost $10.9 million on $2.98 billionb in revenue. The company has about 6,400 full-timer workers worldwide.
Friday, December 3, 2010
High Point 66, Gardner-Webb 64 - ESPN
bhutan-warwick.blogspot.com
High Point 66, Gardner-Webb 64 ESPN Associated Press HIGH POINT, NC -- Nick Barbour scored 16 points and High Point held on for a 66-64 victory over Gardner-Webb despite missing three free ... |
Tuesday, November 30, 2010
New Pink Floyd Doc Being Shot About The 'Brick In The Wall' Choir - Prefixmag
http://providenceriweddings.com/tips/reception.html
Reuters India | New Pink Floyd Doc Being Shot About The 'Brick In The W » |
Sunday, November 28, 2010
Spiced roasted squash - Boston Globe
http://sony-digital-camcorders.com/review-dcr-trv350.html
Spiced roasted squash Boston Globe Line a large rimmed baking sheet with foil, spread the squash evenly in a single layer, and roast until well browned on the bottom, about 20 minutes. ... |
Thursday, November 25, 2010
Bonus Payout Trends and Continuing Cost Controls Reflect Challenging Business Climate, Says Aon Consulting's Radford
gavrilovaefivu.blogspot.com
June 11 /PRNewswire-FirstCall/ -- As a result of the economiv climate, high-technology and life sciences companies anticipatre shrinking or eliminating bonus payouts in additionm to extending cost controls for their currentyfiscal year, according to new pay trends surveys by Aon Consulting'ws Radford, a leading provider of compensation intelligencew to the high-technology and life sciences More than 70 percent of respondent to Radford's Managing Compensation in a Downturm Economy flash survey of 160 U.S. high-technology and life sciences companiez expect to pay bonuses at lower levels comparecd to the previousfiscal year, or do not expect to pay any bonusews at all.
Many companies are instead considerinhselective awards, such as project team bonusesd or special incentives, to top performers to recognizr and reward superior efforts and outcomesa that rise above the challenges of today' s economy. "In times of economic turmoil, a properly designex incentive plan acts as an automaticcost stabilizer, paying out when companu performance meets expectations, and not payingh out when performance and financial ability is lacking," says , vice Aon Consulting's Radford. "The survey result s demonstrate that most incentive plans are doing exactly what they were designedfto do.
However, this is a difficult messagd to deliver to employees who are used to earninfg a bonus as part of theircompensation package." The Downturbn survey also revealed differences between the high-technologuy and life sciences sectors. Only 14 percentf of participating high-technology companies indicated that they would providwe salary increases to eligible employeesin 2009, compared to 50 percent of respondin life sciences companies.
Life sciences companies completing clinical trials or other key product events that require more ofa long-terkm horizon and thus a continuum of talenr are providing salary increases, but at slightly scalee back levels compared to 2008 increases, accordint to Knopping. To further control costs, many high-technolog y companies are continuing to requiremandatory time-off, or furloughs, in an effort to avoid layoffs, according to the new Q1 2009 Quarterlhy Summary of Industry Trends (QSIT) reports, with insight from 570 high-technologyg companies and nearly 250 life science firms.
On average, nearly 85 percent of the high-technologu non-executive workforce has been impacted bymandatory time-off in the firsyt six months of compared to 41 percent for life sciences "Many companies have had no choice but to have while others have tried to lesse the blow by implementing a wide varietgy of forced time-off programs," said , senior vice Aon Consulting's Radford. "In an effort to drastically reducer humanresources costs, some companies have had to do both. short-term demands for cost controls may be trumpingha longer-term perspective to effectively manage the workforce. For many companies, cost controp measures will continue by wayof layoffs, but at a slowetr pace.
Only 17 percent of life sciences respondents are forecastiny layoffs in the next sixmonths - down more than 20 percen from the fourth quarter of 2008. High-technology companied also are expecting to ease with 36 percent forecasting using this measure in the next six down 9 percent from the end of last Of those companies who will be implementinb layoffsthis year, nearly all responded that a cash severanc e would be offered. The Managing Compensatiom in a Downturn Economy flash survey includedr160 high-technology and life sciences responding companies.
The survey gatherefd information about how companies are modifying theirrcompensation programs, including salary increase cash incentives, and equity compensation in light of the currentf economic environment. The Quarterly Summary of Industry Trends report is a quarterly report available tosurvey participants. The Q1 life sciencess edition included 246 participating whilethe high-technology edition included 570. For more than 30 years, Radford has provided compensation market intelligence to the technology and lifescienceas industries. Global survey databases, whichy include nearly 3.5 million offer current, reliable data to 2,000+ clients.
Leveraging Radford surveuy data, our thought-leading global Radford Consulting team creates tailored solutionsa for the toughest global business and compensatiomn challenges facing companies at all stagesof development. In addition to our consultin team, we also offee equity valuation assistance via RadfordValuation Services, and leading-edgs market analyses and survey services with Radford Analyticx Services. Radford's suite of global surveys includesthe Executive, Sales, Benefits, Globa l Life Sciences and International Surveys. Aon Consultinh Worldwide is among the top global human capitalconsultin firms, with 2008 revenues of $1.
358i billion and more than 6,300 professionalse in 117 offices worldwide. Aon Consulting works with organizations to improv e business performance and shape the workplace of the futuree throughemployee benefits, talent management and rewardds strategies and solutions. Aon Consulting was named the best employee benefit consulting firm by the readera of Business Insurance magazinein 2006, 2007 and 2008. Aon Corporatiohn (NYSE: AOC) is the leading global provider of riskmanagement services, insurance and reinsurance brokerage, and human capital consulting.
Througb its more than 37,000 colleagues worldwide, Aon readily deliveras distinctive client value via innovative and effective risk managementg and workforceproductivity solutions. Aon's industry-leading global resources and technical expertise are delivered locallyh through more than 500 offices in more than 120 Namedthe world's best broke by Euromoney magazine's 2008 and 2009 Insurance Aon also ranked highest on Business Insurance's listing of the world'se largest insurance brokers based on commerciaol retail, wholesale, reinsurance and personal lines brokerage revenueds in 2008. A.M.
Best deemed Aon the number one insurancwe broker based on brokerage revenues in 2007 and and Aon was voted bestinsurances intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007 and 2008 by the readerz of Business Insurance. For more informationb on Aon, log onto . For more information, Fabiola A. Price, +1 (415) fprice@radford.com Kelly St. Denis, +1 321-2584, kstdenis@radford.
com
June 11 /PRNewswire-FirstCall/ -- As a result of the economiv climate, high-technology and life sciences companies anticipatre shrinking or eliminating bonus payouts in additionm to extending cost controls for their currentyfiscal year, according to new pay trends surveys by Aon Consulting'ws Radford, a leading provider of compensation intelligencew to the high-technology and life sciences More than 70 percent of respondent to Radford's Managing Compensation in a Downturm Economy flash survey of 160 U.S. high-technology and life sciences companiez expect to pay bonuses at lower levels comparecd to the previousfiscal year, or do not expect to pay any bonusews at all.
Many companies are instead considerinhselective awards, such as project team bonusesd or special incentives, to top performers to recognizr and reward superior efforts and outcomesa that rise above the challenges of today' s economy. "In times of economic turmoil, a properly designex incentive plan acts as an automaticcost stabilizer, paying out when companu performance meets expectations, and not payingh out when performance and financial ability is lacking," says , vice Aon Consulting's Radford. "The survey result s demonstrate that most incentive plans are doing exactly what they were designedfto do.
However, this is a difficult messagd to deliver to employees who are used to earninfg a bonus as part of theircompensation package." The Downturbn survey also revealed differences between the high-technologuy and life sciences sectors. Only 14 percentf of participating high-technology companies indicated that they would providwe salary increases to eligible employeesin 2009, compared to 50 percent of respondin life sciences companies.
Life sciences companies completing clinical trials or other key product events that require more ofa long-terkm horizon and thus a continuum of talenr are providing salary increases, but at slightly scalee back levels compared to 2008 increases, accordint to Knopping. To further control costs, many high-technolog y companies are continuing to requiremandatory time-off, or furloughs, in an effort to avoid layoffs, according to the new Q1 2009 Quarterlhy Summary of Industry Trends (QSIT) reports, with insight from 570 high-technologyg companies and nearly 250 life science firms.
On average, nearly 85 percent of the high-technologu non-executive workforce has been impacted bymandatory time-off in the firsyt six months of compared to 41 percent for life sciences "Many companies have had no choice but to have while others have tried to lesse the blow by implementing a wide varietgy of forced time-off programs," said , senior vice Aon Consulting's Radford. "In an effort to drastically reducer humanresources costs, some companies have had to do both. short-term demands for cost controls may be trumpingha longer-term perspective to effectively manage the workforce. For many companies, cost controp measures will continue by wayof layoffs, but at a slowetr pace.
Only 17 percent of life sciences respondents are forecastiny layoffs in the next sixmonths - down more than 20 percen from the fourth quarter of 2008. High-technology companied also are expecting to ease with 36 percent forecasting using this measure in the next six down 9 percent from the end of last Of those companies who will be implementinb layoffsthis year, nearly all responded that a cash severanc e would be offered. The Managing Compensatiom in a Downturn Economy flash survey includedr160 high-technology and life sciences responding companies.
The survey gatherefd information about how companies are modifying theirrcompensation programs, including salary increase cash incentives, and equity compensation in light of the currentf economic environment. The Quarterly Summary of Industry Trends report is a quarterly report available tosurvey participants. The Q1 life sciencess edition included 246 participating whilethe high-technology edition included 570. For more than 30 years, Radford has provided compensation market intelligence to the technology and lifescienceas industries. Global survey databases, whichy include nearly 3.5 million offer current, reliable data to 2,000+ clients.
Leveraging Radford surveuy data, our thought-leading global Radford Consulting team creates tailored solutionsa for the toughest global business and compensatiomn challenges facing companies at all stagesof development. In addition to our consultin team, we also offee equity valuation assistance via RadfordValuation Services, and leading-edgs market analyses and survey services with Radford Analyticx Services. Radford's suite of global surveys includesthe Executive, Sales, Benefits, Globa l Life Sciences and International Surveys. Aon Consultinh Worldwide is among the top global human capitalconsultin firms, with 2008 revenues of $1.
358i billion and more than 6,300 professionalse in 117 offices worldwide. Aon Consulting works with organizations to improv e business performance and shape the workplace of the futuree throughemployee benefits, talent management and rewardds strategies and solutions. Aon Consulting was named the best employee benefit consulting firm by the readera of Business Insurance magazinein 2006, 2007 and 2008. Aon Corporatiohn (NYSE: AOC) is the leading global provider of riskmanagement services, insurance and reinsurance brokerage, and human capital consulting.
Througb its more than 37,000 colleagues worldwide, Aon readily deliveras distinctive client value via innovative and effective risk managementg and workforceproductivity solutions. Aon's industry-leading global resources and technical expertise are delivered locallyh through more than 500 offices in more than 120 Namedthe world's best broke by Euromoney magazine's 2008 and 2009 Insurance Aon also ranked highest on Business Insurance's listing of the world'se largest insurance brokers based on commerciaol retail, wholesale, reinsurance and personal lines brokerage revenueds in 2008. A.M.
Best deemed Aon the number one insurancwe broker based on brokerage revenues in 2007 and and Aon was voted bestinsurances intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007 and 2008 by the readerz of Business Insurance. For more informationb on Aon, log onto . For more information, Fabiola A. Price, +1 (415) fprice@radford.com Kelly St. Denis, +1 321-2584, kstdenis@radford.
com
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