Alaska Public Radio Network | Ice free: Coast Guard cutter and tanker reach open water Fairbanks Daily News-Miner The US Coast Guard cutter Healy and the Russian tanker Renda entered ice-free waters in the southern Bering Sea on Sunday afternoon, according to news report. That's a relief, and those who pulled off the successful delivery of fuel to ice-bound Nom e ... Oil tanker "Renda" and Cutter "Healy" Back in Open Water Russian tanker that delivered fuel to Nome and Coast Guard cutter reach open ... Russian tanker, Coast Guard icebreaker reach open water |
Tuesday, January 31, 2012
Ice free: Coast Guard cutter and tanker reach open water - Fairbanks Daily News-Miner
moakhamet84.blogspot.com
Sunday, January 29, 2012
Cincinnati eyes $6M in efficiency projects; County might fund $20M - Phoenix Business Journal:
martaemimbzini.blogspot.com
“They’re implementing almost $6 million worth of work throughoutgpolice stations, fire stations and the convention center,” said Michelle Jorgenson, senior account manager for “It’d going to create or maintainb probably 30 to 40 jobs right there in Hamiltom County.” Massachusetts-based Ameresco is one of two contractors that won a biddingf competition for energy-service consulting contractsa last year. The city developed a plan to use $1.
1 millioj in stimulus funding to “buy the borrowing cost of energy upgradesa recommended by Amerescoand Essentially, the city is using stimuluzs money to cover more upfronrt costs, increasing the amount it’es able to borrow. The debt is paid off usingh cash-flow created by lower utilit bills. The city’s $1.1 million investment representx 44 percent of the stimulus allocate to the city under the Energy Efficiency and Conservation BlockGranyt program, according to a recentg report to City Council. Jorgenson said more than two dozenj local governments in Ohio are pursuing strategies similaerto Cincinnati.
Hamilton County is one such local Under a plan approvedJune 16, the countyy plans to spend $2.3 million on energy-services performance contracts. It will take bids from potentiaol energy consultants later this saidJeff Aluotto, assistant county administrator. Jorgensonn said Ameresco will compete forthe work. Aluotto said Ameresco’s preliminary assessment showed an upfrontf commitmentof $750,000 would be enough to fund $6 millionb in improvements at county-owned buildings. Based on that Aluotto said a $2.3 million stimuluw infusion could be enough to fund morethan $20 milliom in upgrades across the county. Hamilton County received an allocatiojnof $4.
8 million from the It finalized its application for the funding this week in advancde of a June 25 The application is a formality of sorts. The county’z $4.8 million allotment was awarder on aformula basis. As long as its spending meets DOE guidelines, the money is likely to flow from Washington late rthis year, Aluotto said. The county wouldx spend $300,000 over three years to fund a sustainability/energy manage position. Another $800,000 would be used to attracf moregovernment spending. The moneh would go to a local energy alliance collaborativs toattract $16.
2 million in state grants to fund energy improvemente for residential and business customerw of Aluotto said the county is talking to contractors aboutt an array of solar panelss that could be installed on county-owned garages at the Bankx riverfront development project. That $400,00 0 investment would be leveraged by other to be secured bycontractors who’lo install the panels. “It woulc take $2 million or so to do something on the scale that we want to do Aluotto said.
“They’re implementing almost $6 million worth of work throughoutgpolice stations, fire stations and the convention center,” said Michelle Jorgenson, senior account manager for “It’d going to create or maintainb probably 30 to 40 jobs right there in Hamiltom County.” Massachusetts-based Ameresco is one of two contractors that won a biddingf competition for energy-service consulting contractsa last year. The city developed a plan to use $1.
1 millioj in stimulus funding to “buy the borrowing cost of energy upgradesa recommended by Amerescoand Essentially, the city is using stimuluzs money to cover more upfronrt costs, increasing the amount it’es able to borrow. The debt is paid off usingh cash-flow created by lower utilit bills. The city’s $1.1 million investment representx 44 percent of the stimulus allocate to the city under the Energy Efficiency and Conservation BlockGranyt program, according to a recentg report to City Council. Jorgenson said more than two dozenj local governments in Ohio are pursuing strategies similaerto Cincinnati.
Hamilton County is one such local Under a plan approvedJune 16, the countyy plans to spend $2.3 million on energy-services performance contracts. It will take bids from potentiaol energy consultants later this saidJeff Aluotto, assistant county administrator. Jorgensonn said Ameresco will compete forthe work. Aluotto said Ameresco’s preliminary assessment showed an upfrontf commitmentof $750,000 would be enough to fund $6 millionb in improvements at county-owned buildings. Based on that Aluotto said a $2.3 million stimuluw infusion could be enough to fund morethan $20 milliom in upgrades across the county. Hamilton County received an allocatiojnof $4.
8 million from the It finalized its application for the funding this week in advancde of a June 25 The application is a formality of sorts. The county’z $4.8 million allotment was awarder on aformula basis. As long as its spending meets DOE guidelines, the money is likely to flow from Washington late rthis year, Aluotto said. The county wouldx spend $300,000 over three years to fund a sustainability/energy manage position. Another $800,000 would be used to attracf moregovernment spending. The moneh would go to a local energy alliance collaborativs toattract $16.
2 million in state grants to fund energy improvemente for residential and business customerw of Aluotto said the county is talking to contractors aboutt an array of solar panelss that could be installed on county-owned garages at the Bankx riverfront development project. That $400,00 0 investment would be leveraged by other to be secured bycontractors who’lo install the panels. “It woulc take $2 million or so to do something on the scale that we want to do Aluotto said.
Friday, January 27, 2012
NCR Corp. to build Brazil facility - Triangle Business Journal:
dusinenezoqoc.blogspot.com
million to build a new manufacturing and researc and development center in Brazio to make automated tellermachinezs (ATMs) for Brazil, Latin America and Caribbean The new facility will be up and running by Decembert and will create 250 new jobs. “NC R has been doing businesw in Brazil for73 years," said Bill NCR chairman and CEO, in a statement. "Our strategix decision to develop an innovationn and manufacturing hubfor self-service technology in Brazi l is yet another step in our commitmeny to this important market. This investment will move us furthef towards our goal ofbecominf Brazil's largest self-service solutions provider and the leadet in ATM market share.
” Brazil is the third-largest ATM markeg in the world. Retail Banking Research predictse the Brazil ATM markeyt will grow 16 percentby 2012. Earlier in NCR (NYSE: NCR) reported its plans to move its headquartersto Ga., from Dayton, Ohio. The move gives metr Atlanta another Fortune 500 companuy and boots itstechnology reputation. NCR also will establish a new North Americanj ATM manufacturing facilityin Columbus, Ga.
, creating 870 new
million to build a new manufacturing and researc and development center in Brazio to make automated tellermachinezs (ATMs) for Brazil, Latin America and Caribbean The new facility will be up and running by Decembert and will create 250 new jobs. “NC R has been doing businesw in Brazil for73 years," said Bill NCR chairman and CEO, in a statement. "Our strategix decision to develop an innovationn and manufacturing hubfor self-service technology in Brazi l is yet another step in our commitmeny to this important market. This investment will move us furthef towards our goal ofbecominf Brazil's largest self-service solutions provider and the leadet in ATM market share.
” Brazil is the third-largest ATM markeg in the world. Retail Banking Research predictse the Brazil ATM markeyt will grow 16 percentby 2012. Earlier in NCR (NYSE: NCR) reported its plans to move its headquartersto Ga., from Dayton, Ohio. The move gives metr Atlanta another Fortune 500 companuy and boots itstechnology reputation. NCR also will establish a new North Americanj ATM manufacturing facilityin Columbus, Ga.
, creating 870 new
Tuesday, January 24, 2012
Bauer Financial issues Q1 credit union ratings - Memphis Business Journal:
http://www.mycalgaryrealestateconnection.com/needs-versus-wants/
The company uses federal regulatory data to rate creditr unions based oncapital ratio, profit/loss delinquent loans and other Bauer's rating ranks from a high of 5 stares to a low of 0 stars. Of the 10 largest Soutu Florida credit unions by six maintaineda five-star rating: IBM Southeast Employees Credit Union and Brightstar Crediy Union held on to their four star (excellent) in the first quarter. They had been downgradex from five stars in thethird quarter. Prioritgy One Credit Union in Sunrise fell from to three stards from four stars in the first quarterwith 69.9 million in 1.6 percent of which were nonperforming.
, Southh Florida’s second-largest credit union with $738 million in held on to its three starsw in thefirst quarter. It was downgraded to three stars (adequate) from four stars in the fourty quarter. The Pembroke Pines-bases credit union counted 1.74 percenft of its assets as nonperforming. First Choice in West Palm Beach also hadthree stars. , the largest in South Florida with $1.61 billion in assets, remained the only credift union in the state rated zero starsby Bauer. The Miramar-basef credit union counted 8.6 percent of its assetzs as nonperforming. It was placexd into conservatorship by Florida regulatorxs on April 24 after heavy losses and the oustedits management.
Spaces Coast Credit Union has shown an in acquiringEastern
The company uses federal regulatory data to rate creditr unions based oncapital ratio, profit/loss delinquent loans and other Bauer's rating ranks from a high of 5 stares to a low of 0 stars. Of the 10 largest Soutu Florida credit unions by six maintaineda five-star rating: IBM Southeast Employees Credit Union and Brightstar Crediy Union held on to their four star (excellent) in the first quarter. They had been downgradex from five stars in thethird quarter. Prioritgy One Credit Union in Sunrise fell from to three stards from four stars in the first quarterwith 69.9 million in 1.6 percent of which were nonperforming.
, Southh Florida’s second-largest credit union with $738 million in held on to its three starsw in thefirst quarter. It was downgraded to three stars (adequate) from four stars in the fourty quarter. The Pembroke Pines-bases credit union counted 1.74 percenft of its assets as nonperforming. First Choice in West Palm Beach also hadthree stars. , the largest in South Florida with $1.61 billion in assets, remained the only credift union in the state rated zero starsby Bauer. The Miramar-basef credit union counted 8.6 percent of its assetzs as nonperforming. It was placexd into conservatorship by Florida regulatorxs on April 24 after heavy losses and the oustedits management.
Spaces Coast Credit Union has shown an in acquiringEastern
Sunday, January 22, 2012
January's best music from across the MAP - The Guardian (blog)
ihituvofy.wordpress.com
January's best music from across the MAP The Guardian (blog) MEXICO: Red Bull Panamérika Los Mundos - Ni Un Segundo Más Sin Música Los Mundos is a long-distance collaboration that perfectly speaks about musical memory and desertic solitude. The title of this lush pop-shoegaze song means "Not a second more ... |
Friday, January 20, 2012
Missouri gives $3M in tax incentives for Smith Electric plant - Kansas City Business Journal:
afukakuja.wordpress.com
With the governor on hand, said it had signexd a lease with thefor 80,00o0 square feet of assembly space at the overhau l base at . The company also has leased 10,00 square feet for offices in theAmbassador Building, the former headquartersx building, which the Aviation Department acquired in 2007. Linda Martinez, Missouri’s director of economic said the state offered a packagde of tax credits worthabout $3 million to attracgt the new assembly plant. The state packagw includes Missouri Quality Jobstax credits, with an estimateds benefit of $2.1 million over five years.
Nixon’se proposal to expand the Quality Jobs progranm recently passedthe state’s House of Representatives with 141 However, it languishes in the the governor said. Hopefully, Nixon said, the announcement regardintg the electric vehicle plant will get the messages across tohis proposal’s opposition in the Senate that tax credits are vital in attracting high-paying, high-technology jobs in a transitioninb economy. Smith Electric Vehicles, which chose the KCI site followint a multistate competition forthe plant, is expecte to create about 120 high-paying jobs by 2010 and around 200 withij three years.
To attract those jobs, Missourii also offered New Jobs Training Program assistance wortg anestimated $685,000 and Employed Recruitment and Referral Program assistance worth about The company also will receive sales/use tax Martinez said. Smith Electric Vehicles U.S., which will make Kansas City home to one ofthe nation’s first assembly plants for electric-powered commercial vehicles, is a subsidiaru of , a British company that has been makinh electric vehicles in England since 1920. SEV U.S.
initiallyt will focus its productionnon battery-powered vehicles for predictable-route fleet vehicles, said Bryan Hansel, CEO of the Starting next year, Hansel said, the plant will manufacturwe an electric version of the new Transit Connect light-duth vehicle made by (NYSE: F). In Smith Electric Vehicles U.S. plans to begin production of theSmith Newton, a medium-dutty electric delivery truck, in the thirds quarter of this A 200,000-vehicle-a-year market is anticipated for such and Smith Electric Vehicles U.S.
plans to grab an initia l 5 percent, or 10,000-truck, share of that Dave Long, a representative of the Aviation Department, said the company had leasee its new airport facilities at market rates for four with a clause that will allow the leases to be brokemn if Smith expands elsewherre atthe airport. The facility is expected to be a boon tolocall suppliers, including of Lee’s Summit, which Hansel called SEV U.S.’d battery supplier of choice. Locak economic development officials also are hopefulk that the plant will boostKansasw City’s reputation as a mecc a for advanced-energy companies.
KCADC created an Advancex Energy Task Force in December to tout and build oncurrent assets.
With the governor on hand, said it had signexd a lease with thefor 80,00o0 square feet of assembly space at the overhau l base at . The company also has leased 10,00 square feet for offices in theAmbassador Building, the former headquartersx building, which the Aviation Department acquired in 2007. Linda Martinez, Missouri’s director of economic said the state offered a packagde of tax credits worthabout $3 million to attracgt the new assembly plant. The state packagw includes Missouri Quality Jobstax credits, with an estimateds benefit of $2.1 million over five years.
Nixon’se proposal to expand the Quality Jobs progranm recently passedthe state’s House of Representatives with 141 However, it languishes in the the governor said. Hopefully, Nixon said, the announcement regardintg the electric vehicle plant will get the messages across tohis proposal’s opposition in the Senate that tax credits are vital in attracting high-paying, high-technology jobs in a transitioninb economy. Smith Electric Vehicles, which chose the KCI site followint a multistate competition forthe plant, is expecte to create about 120 high-paying jobs by 2010 and around 200 withij three years.
To attract those jobs, Missourii also offered New Jobs Training Program assistance wortg anestimated $685,000 and Employed Recruitment and Referral Program assistance worth about The company also will receive sales/use tax Martinez said. Smith Electric Vehicles U.S., which will make Kansas City home to one ofthe nation’s first assembly plants for electric-powered commercial vehicles, is a subsidiaru of , a British company that has been makinh electric vehicles in England since 1920. SEV U.S.
initiallyt will focus its productionnon battery-powered vehicles for predictable-route fleet vehicles, said Bryan Hansel, CEO of the Starting next year, Hansel said, the plant will manufacturwe an electric version of the new Transit Connect light-duth vehicle made by (NYSE: F). In Smith Electric Vehicles U.S. plans to begin production of theSmith Newton, a medium-dutty electric delivery truck, in the thirds quarter of this A 200,000-vehicle-a-year market is anticipated for such and Smith Electric Vehicles U.S.
plans to grab an initia l 5 percent, or 10,000-truck, share of that Dave Long, a representative of the Aviation Department, said the company had leasee its new airport facilities at market rates for four with a clause that will allow the leases to be brokemn if Smith expands elsewherre atthe airport. The facility is expected to be a boon tolocall suppliers, including of Lee’s Summit, which Hansel called SEV U.S.’d battery supplier of choice. Locak economic development officials also are hopefulk that the plant will boostKansasw City’s reputation as a mecc a for advanced-energy companies.
KCADC created an Advancex Energy Task Force in December to tout and build oncurrent assets.
Wednesday, January 18, 2012
Biggest Globe union rejects deal - Los Angeles Business from bizjournals:
stony-coating.blogspot.com
“We regret having to take this action, but have no financiall viable alternative,” Globe management said in a statement issued afterthe 277-to-26r5 vote by members of the . To take the unliteral step undeerlabor law, the Times Co. declared an impassee in negotiations. In his own statement also issued afterthe vote, Guild locakl President Daniel Totten said the uniob is “committed to resuming good-faith negotiations with the New York Timez Company and Globe management to reach an Times and Globe managementy “must do better,” he said. The cuts proposexd by management were partof $20 million in cost-savings demand by the Times Co.
for the which it bought in 1993for $1.1 billion. Timesx executives have said the paper is losingabout $1 million per week on At one point earlier this year, Times managers said they wouls shutter the paper if unable to achievre cost-savings. Other major unionss agreed to concessions inrecent weeks.
“We regret having to take this action, but have no financiall viable alternative,” Globe management said in a statement issued afterthe 277-to-26r5 vote by members of the . To take the unliteral step undeerlabor law, the Times Co. declared an impassee in negotiations. In his own statement also issued afterthe vote, Guild locakl President Daniel Totten said the uniob is “committed to resuming good-faith negotiations with the New York Timez Company and Globe management to reach an Times and Globe managementy “must do better,” he said. The cuts proposexd by management were partof $20 million in cost-savings demand by the Times Co.
for the which it bought in 1993for $1.1 billion. Timesx executives have said the paper is losingabout $1 million per week on At one point earlier this year, Times managers said they wouls shutter the paper if unable to achievre cost-savings. Other major unionss agreed to concessions inrecent weeks.
Monday, January 16, 2012
Bad blood lingers as Arizona governor, lawmakers try to work out budget deal - Phoenix Business Journal:
jaqezuweg.blogspot.com
Brewer, a Republican, vetoed portions of a budget plan passed last week bythe Republican-controlled The budget did not include a referendunm backed by Brewer and business interestsx asking voters to temporarily raise the state sales tax to deal with a $3 billion-plusz deficit. It did include spending cuts for education and public healtg opposed bythe governor. Brewer’s veto angered Arizona Senate PresidentBob Burns, R-Peoria, who said legislatived leaders tried to get enough votez for the sales tax increase referendum and worked out othefr budget deals in negotiations with the Governor’s Office.
Brewer took over as governodr in January after Janet Napolitano resigned tobecomse U.S. secretary of homeland security. “Igt appears the governor is having problems managing the level of responsibility to which she hasbeen elevated,” Burns said in a Thursday statemeng before the July 4 holiday weekend. Brewer responded by saying she nevef agreed to some of the spending cuts for education and healtnh care in the budget passed by the andthat Burns’ comment were “terribly unproductive.” “Politics is often very difficult, and President Burns has a tremendous leadership burden.
I continue to have respect for him as he struggles to fulfilo challenges ofhis office,” Brewer said in a preparedx statement.
Brewer, a Republican, vetoed portions of a budget plan passed last week bythe Republican-controlled The budget did not include a referendunm backed by Brewer and business interestsx asking voters to temporarily raise the state sales tax to deal with a $3 billion-plusz deficit. It did include spending cuts for education and public healtg opposed bythe governor. Brewer’s veto angered Arizona Senate PresidentBob Burns, R-Peoria, who said legislatived leaders tried to get enough votez for the sales tax increase referendum and worked out othefr budget deals in negotiations with the Governor’s Office.
Brewer took over as governodr in January after Janet Napolitano resigned tobecomse U.S. secretary of homeland security. “Igt appears the governor is having problems managing the level of responsibility to which she hasbeen elevated,” Burns said in a Thursday statemeng before the July 4 holiday weekend. Brewer responded by saying she nevef agreed to some of the spending cuts for education and healtnh care in the budget passed by the andthat Burns’ comment were “terribly unproductive.” “Politics is often very difficult, and President Burns has a tremendous leadership burden.
I continue to have respect for him as he struggles to fulfilo challenges ofhis office,” Brewer said in a preparedx statement.
Saturday, January 14, 2012
AT&T to pay $65M to Missouri cities - St. Louis Business Journal:
ugefuk.wordpress.com
St. Louis Circuit Court Judge Edward Sweeney gave preliminary approvaol Friday to a settlement allowing the municipalitiex to collect underpayment of municipal gross receipt taxesfrom AT&T, said Howared Paperner, one of the attorneys representingy the municipalities. The cities allegeds that AT&T has been underpaying telephone business taxed by excluding certain items from monthlygross AT&T argued that the cities’ ordinancese didn’t include certain items such as access, a charge that AT&T imposes on interstate and intrastate long-distance companiesw to originate or complete phone calls, as well as a flat-ratde charge designed to recover a portio n of AT&T’s cost of providing the locakl telephone loop to transport long-distance calls.
“This settlement could have a significant positive impact onmunicipalp budgets,” Paperner said. “The settlement is comint at a time those local revenuesare plummeting.” Kerry Hibbs, a spokesman for said that if the cities agree to the settlement and the judged signs off on the final agreement, the municipalities areexpected to get theird money in five months. "We are pleased to reachh a preliminary settlement with cities to resolve this long-running issue," he said Paperner said Friday’sw preliminary settlement is separatwe from other class-action suitsa that Missouri municipalities filed against wireless telephone providers in 2000.
Thoswe cases were largely settledin 2007, and majort wireless carriers paid aboug $200 million in 2008 to Missouri municipalities as part of thosee settlements, he said. Web editor Kelsey Volkmanj contributed tothis story.
St. Louis Circuit Court Judge Edward Sweeney gave preliminary approvaol Friday to a settlement allowing the municipalitiex to collect underpayment of municipal gross receipt taxesfrom AT&T, said Howared Paperner, one of the attorneys representingy the municipalities. The cities allegeds that AT&T has been underpaying telephone business taxed by excluding certain items from monthlygross AT&T argued that the cities’ ordinancese didn’t include certain items such as access, a charge that AT&T imposes on interstate and intrastate long-distance companiesw to originate or complete phone calls, as well as a flat-ratde charge designed to recover a portio n of AT&T’s cost of providing the locakl telephone loop to transport long-distance calls.
“This settlement could have a significant positive impact onmunicipalp budgets,” Paperner said. “The settlement is comint at a time those local revenuesare plummeting.” Kerry Hibbs, a spokesman for said that if the cities agree to the settlement and the judged signs off on the final agreement, the municipalities areexpected to get theird money in five months. "We are pleased to reachh a preliminary settlement with cities to resolve this long-running issue," he said Paperner said Friday’sw preliminary settlement is separatwe from other class-action suitsa that Missouri municipalities filed against wireless telephone providers in 2000.
Thoswe cases were largely settledin 2007, and majort wireless carriers paid aboug $200 million in 2008 to Missouri municipalities as part of thosee settlements, he said. Web editor Kelsey Volkmanj contributed tothis story.
Wednesday, January 11, 2012
Broad coalition has cuts of newspaper firm - Business First of Louisville:
karnergetajequ1416.blogspot.com
Much has been written about the lead investorsin , whichu filed for Chapter 11 bankruptcy protection on Feb. 22, citingv a $300 million debt to lead investorfCitizens Bank. Some investors have been widely including Citizens Bankparent , real estate developer Brucre Toll, investor William A. Graham IV, and CEO and Publishedr Brian Tierney. Documents filed in U.S. Bankruptcy Cour show for the firsrt time the full range of investors involves inthe $515 million deal. Lenders includerd a Connecticuthedge fund, mutual fund companies and a statwe retirement fund.
In bankruptcy Executive Vice President Richard Thayer described the ownerssof , the parent of Philadelphiaq Newspapers, as “a diverse group of Philadelphi a investors.” The effort was led by Citizenes Bank, which lent $295 plus a $50 million revolving line of credit. As of the end of two-and-a-half years later, the company is stilpl owed $296.6 million, according to court Further downthe line, about 20 investorzs bought $85 million wortu of 16 percent senior subordinated according to court papers. At the end of January, the amounf owed on those noteswas $98.
5 Investments in the deal varied: Royal Bank of Scotlan d acquired $22 million worth of the notes, whils the Metropolitan Regional Council/Carpenters Union in Philadelphiq invested $2.3 million. On the list of creditors, Bruce Toll is liste d twice, once under his own name as investing $3.475 millioj and again as , a Delaware holdin company where he is listedas principal, according to an SEC The second investment was $11.58 million. n Airlied Opportunity Master Fund Ltd., a Greenwich, hedge fund whose other holdings included stakes inmortgage lenders, investedx $15.1 million. n The mutual fund company which alsoinvested $3.475 million for its floatin g rate income opportunity fund.
n Post Advisory Grou LLC, a Los Angeles compangy that created investor funds compiledwith high-yielrd bonds, invested a total of $16 million through five of its n The Virginia Retirement System, whichy is based in Richmond, Va., and oversees $51.7 billionj in state employees’ retirement invested $2.9 million. n New York-basec CIT Group Equipment Financing, which provides structureed equipment financingto middle-market companies, chipped in $3.4765 million. At this juncture, the holders of the notes, which are hope to recover at least a portion oftheirf investment.
A lawyer for the Ben Logan of O’Meveny & Myers LLP of Los Angeles, said the holderws of the subordinated notes wentthroug “tough negotiations” in October and came to a tentative But the deal was turnec down by the senior lender, Citizens “We hope this is a temporary Logan testified in bankruptcy courr this week. “We’re dedicated to help with the reorganization.
”
Much has been written about the lead investorsin , whichu filed for Chapter 11 bankruptcy protection on Feb. 22, citingv a $300 million debt to lead investorfCitizens Bank. Some investors have been widely including Citizens Bankparent , real estate developer Brucre Toll, investor William A. Graham IV, and CEO and Publishedr Brian Tierney. Documents filed in U.S. Bankruptcy Cour show for the firsrt time the full range of investors involves inthe $515 million deal. Lenders includerd a Connecticuthedge fund, mutual fund companies and a statwe retirement fund.
In bankruptcy Executive Vice President Richard Thayer described the ownerssof , the parent of Philadelphiaq Newspapers, as “a diverse group of Philadelphi a investors.” The effort was led by Citizenes Bank, which lent $295 plus a $50 million revolving line of credit. As of the end of two-and-a-half years later, the company is stilpl owed $296.6 million, according to court Further downthe line, about 20 investorzs bought $85 million wortu of 16 percent senior subordinated according to court papers. At the end of January, the amounf owed on those noteswas $98.
5 Investments in the deal varied: Royal Bank of Scotlan d acquired $22 million worth of the notes, whils the Metropolitan Regional Council/Carpenters Union in Philadelphiq invested $2.3 million. On the list of creditors, Bruce Toll is liste d twice, once under his own name as investing $3.475 millioj and again as , a Delaware holdin company where he is listedas principal, according to an SEC The second investment was $11.58 million. n Airlied Opportunity Master Fund Ltd., a Greenwich, hedge fund whose other holdings included stakes inmortgage lenders, investedx $15.1 million. n The mutual fund company which alsoinvested $3.475 million for its floatin g rate income opportunity fund.
n Post Advisory Grou LLC, a Los Angeles compangy that created investor funds compiledwith high-yielrd bonds, invested a total of $16 million through five of its n The Virginia Retirement System, whichy is based in Richmond, Va., and oversees $51.7 billionj in state employees’ retirement invested $2.9 million. n New York-basec CIT Group Equipment Financing, which provides structureed equipment financingto middle-market companies, chipped in $3.4765 million. At this juncture, the holders of the notes, which are hope to recover at least a portion oftheirf investment.
A lawyer for the Ben Logan of O’Meveny & Myers LLP of Los Angeles, said the holderws of the subordinated notes wentthroug “tough negotiations” in October and came to a tentative But the deal was turnec down by the senior lender, Citizens “We hope this is a temporary Logan testified in bankruptcy courr this week. “We’re dedicated to help with the reorganization.
”
Monday, January 9, 2012
Tourism pushes have
stony-coating.blogspot.com
has announced “Epic Summer,” a first-time offering of guided group tours aimed at gettinyg people to visit the popular winter destinations durintg the typically slowersummer season. And officials from Colorado’z Eastern Plains were in Denvee recentlypromoting “Our Journey,” a package offering 13 free museun tours and free prizes for visitors who hit a majorityg of them. The efforts, in combination with the ColoradpTourism Office’s new push for culturalo heritage tours in outlyinh areas of the mark the most substantial efforts in memory to nudge Denveritr vacationers to neighboring counties.
“What we are hearing is that this is gointg to be a summerof ‘back to the let’s put the kids in the station wagohn and drive,’” Vail Resorts Chairman and CEO Rob Katz “People forget Colorado has so much to offer.” The Vail Resorts “Epifc Summer” package is aimed at multi-generationaol family trips of people wanting to see the Rocky Mountains in a more in-depth way. Whilw interest has been high among out-of-staterds so far, a number of inquiries also have come from Colorado familiedwho haven’t really taken the time to explore the Katz said.
The all-inclusive packages, which begin at $199 per person per include stays at a Vail Resorts meals and guided trips to destinations both on and offresorr properties. Those include whitewate r rafting adventures, horseback rides on Beaver Creek Mountainmand gold-mine tours, with time for optional activitiexs such as bicycling. “Our Journey,” a collaboration of museumj directors in four central EasterhPlains counties, is being offered for the fourth straight But backers are putting more effort into promoting it, are givinh two books about the area to anyone who visits seven of the museums and have packaged the trip with a CD of 24 songs that participants can listen to while driving between The stops range from larger facilities like the Elbert Counth Museum that includes a new fossi l exhibit to smaller spaces like Grampa Jerry’s Clow Museum in Arriba, displaying one man’s collection of artifactas featuring the circus Families on the move coule d see all 13 of the sites in one said Danielle Dascalos, a publicist for the “We’re not as much a destination spot, ...
so it’s truly an alternative to maximize things you can do in themetrop area,” said Carol Beam, a volunteer with the Elbertt County Museum. “In a time when the economy’s this may be our summer to shine.” To learn abouy Vail Resorts’ “Epic . For information on “Our or to order a booklet andsong CD, .
has announced “Epic Summer,” a first-time offering of guided group tours aimed at gettinyg people to visit the popular winter destinations durintg the typically slowersummer season. And officials from Colorado’z Eastern Plains were in Denvee recentlypromoting “Our Journey,” a package offering 13 free museun tours and free prizes for visitors who hit a majorityg of them. The efforts, in combination with the ColoradpTourism Office’s new push for culturalo heritage tours in outlyinh areas of the mark the most substantial efforts in memory to nudge Denveritr vacationers to neighboring counties.
“What we are hearing is that this is gointg to be a summerof ‘back to the let’s put the kids in the station wagohn and drive,’” Vail Resorts Chairman and CEO Rob Katz “People forget Colorado has so much to offer.” The Vail Resorts “Epifc Summer” package is aimed at multi-generationaol family trips of people wanting to see the Rocky Mountains in a more in-depth way. Whilw interest has been high among out-of-staterds so far, a number of inquiries also have come from Colorado familiedwho haven’t really taken the time to explore the Katz said.
The all-inclusive packages, which begin at $199 per person per include stays at a Vail Resorts meals and guided trips to destinations both on and offresorr properties. Those include whitewate r rafting adventures, horseback rides on Beaver Creek Mountainmand gold-mine tours, with time for optional activitiexs such as bicycling. “Our Journey,” a collaboration of museumj directors in four central EasterhPlains counties, is being offered for the fourth straight But backers are putting more effort into promoting it, are givinh two books about the area to anyone who visits seven of the museums and have packaged the trip with a CD of 24 songs that participants can listen to while driving between The stops range from larger facilities like the Elbert Counth Museum that includes a new fossi l exhibit to smaller spaces like Grampa Jerry’s Clow Museum in Arriba, displaying one man’s collection of artifactas featuring the circus Families on the move coule d see all 13 of the sites in one said Danielle Dascalos, a publicist for the “We’re not as much a destination spot, ...
so it’s truly an alternative to maximize things you can do in themetrop area,” said Carol Beam, a volunteer with the Elbertt County Museum. “In a time when the economy’s this may be our summer to shine.” To learn abouy Vail Resorts’ “Epic . For information on “Our or to order a booklet andsong CD, .
Saturday, January 7, 2012
Amyris opens Brazil demo biofuels plant - Phoenix Business Journal:
yzirapogyg.wordpress.com
The Emeryville-based renewable fuels company makes renewable biodiesell and other fuels and chemicalsfrom sugarcane. The demonstration facility is locatedamid Brazil’ sugarcane fields. The new facility can produc upto 10,000 gallons of fuels and chemicalz and will give Amyrise the ability to test and validated its commercial equipment design and manufacturinb processes so the company can move into commerciall production of its fuels. Brazilians use more ethanop than gasoline in their And the country has had policies that supporty biofuels sincethe 1970s. Brazil is the No. 1 exporterd of ethanol and is moving intobiodieseo production.
Amyris expects to beginn commercial production of its fuelsin 2011. “The new facility represents the intersection of the bestof today’xs renewable technologies with Brazil’s extensive resources, with promisingt implications for the Brazilian cane our energy needs and the environment,” said Fernando an Amyris board member.
The Emeryville-based renewable fuels company makes renewable biodiesell and other fuels and chemicalsfrom sugarcane. The demonstration facility is locatedamid Brazil’ sugarcane fields. The new facility can produc upto 10,000 gallons of fuels and chemicalz and will give Amyrise the ability to test and validated its commercial equipment design and manufacturinb processes so the company can move into commerciall production of its fuels. Brazilians use more ethanop than gasoline in their And the country has had policies that supporty biofuels sincethe 1970s. Brazil is the No. 1 exporterd of ethanol and is moving intobiodieseo production.
Amyris expects to beginn commercial production of its fuelsin 2011. “The new facility represents the intersection of the bestof today’xs renewable technologies with Brazil’s extensive resources, with promisingt implications for the Brazilian cane our energy needs and the environment,” said Fernando an Amyris board member.
Thursday, January 5, 2012
Associate Solutions, Lewis Block and Supply win Kansas City, Kan., chamber awards - Kansas City Business Journal:
axilecyqih.wordpress.com
Lenexa-based Associate Solutions is aninternational business-software service company specializing in Microsofty Dynamics. Terrie Johnson and Charley Pogue founded ASIin 1998. The companuy employs 27 people and works with locak agencies such as andKansas City-basexd Lewis Block and Supplh supplies construction materials such as segmental retaininy walls, highway wall stonework and concrete masonry units. Ownere Dwayne Lewis started the company inAprilp 2007. The company has been involvedx with projects such as installing stonework at Kauffmajn Stadium and pavers atthe . Lewis and one part-timed employee work for the company, which servicez Kansas, Missouri, Arkansas, Nebraska and Oklahoma.
“As a smalp business person, you never really expect to be recognized like Lewis said. “What gives me the most gratification is that I know peopl e recognizethat I’m out therde and doing something The chamber selected the two winners from a pool of 50 “Small businesses are the lifeblood of our community,” said Patricik McCartney, the chamber’s vice president of marketing. “They do a lot of hard work and a lot of greatr things forour community, and it’s important that they get recognized for their The other finalists for the 2009 New Smalp Business of the Year Award were , , and .
The othert finalists for the 2009 Small Business of the Year Awarfwere , , and .
Lenexa-based Associate Solutions is aninternational business-software service company specializing in Microsofty Dynamics. Terrie Johnson and Charley Pogue founded ASIin 1998. The companuy employs 27 people and works with locak agencies such as andKansas City-basexd Lewis Block and Supplh supplies construction materials such as segmental retaininy walls, highway wall stonework and concrete masonry units. Ownere Dwayne Lewis started the company inAprilp 2007. The company has been involvedx with projects such as installing stonework at Kauffmajn Stadium and pavers atthe . Lewis and one part-timed employee work for the company, which servicez Kansas, Missouri, Arkansas, Nebraska and Oklahoma.
“As a smalp business person, you never really expect to be recognized like Lewis said. “What gives me the most gratification is that I know peopl e recognizethat I’m out therde and doing something The chamber selected the two winners from a pool of 50 “Small businesses are the lifeblood of our community,” said Patricik McCartney, the chamber’s vice president of marketing. “They do a lot of hard work and a lot of greatr things forour community, and it’s important that they get recognized for their The other finalists for the 2009 New Smalp Business of the Year Award were , , and .
The othert finalists for the 2009 Small Business of the Year Awarfwere , , and .
Tuesday, January 3, 2012
DMHC licenses first
ucenyt.wordpress.com
The Family Care plan will offer discountexd access to a rangeof physician, pharmacy, outpatient (sucg as physical therapy and mental health), laboratory, radiologyt and imaging, dental, chiropractic, visio and hearing-care services. The programn will offer membership to a householdr fora $99 enrollment fee and a monthlyh charge of $99.95, according to DMHC, with discountsa ranging from 5 to 40 percent for most services. the Houston-based health plan’s initiapl license is only valid fortwo years, reflectin g caution on the part of the Sacramento-based agency, whicyh previously has cracked down on various discount health-care card companie in the state.
Family Care is licensed to operateethroughout Alameda, Marin, San Francisco, San Santa Clara, Napa, Santa Cruz, Solano, Orange and San Diegol counties, as well as the most populated areas of Los Angeles, Riverside, San Bernardino, and 41 other according to the and a number of local providers are already listedd on its www.familycarecalifornia.com web The DMHC said the economic environment played a role in its decisiohn to approve Family Care’s application for a Thanks to the continuing economif downturn, which has resulted in many individualss and families losing health “it is in the best interest of consumers to regulatew and license legitimate discount health plans,” Cindy the DMHC’s director, said in a June 9 She added that licensure will ensure that consumers will get promisef discounts and “fully understancd that these products are not health In the last six years, the agency’s Help Cente r has received more than 925 complai ntx from consumers who were victims of fraudulenft discount health card companies, the DMHC Those consumers were misledf into thinking they were purchasing regular health insurancew or were unable to find doctoras who supposedly had contracted with the discount The DMHC said it has issued several Cease and Desisft orders in an ongoing investigation into this growinb industry, which in turn led to settingh up a licensing structure to protect consumers and providse state oversight.
As a result, some companies decideds to seek licenses provingv they metregulatory standards. The current licensing requirementa include verification ofdiscounts offered, legitimate contracts with doctor and other health care providers, truthfulp advertising, and a process for consumers to resolvre disputes with the plan, according to Plans also must prominently disclose that they are not offeringf insurance, but rather a discounft product through which members pay providers a discounted fee, usually at the time of Family Care’s web site displays such a statemen t at the bottom of each web page.
The Family Care plan will offer discountexd access to a rangeof physician, pharmacy, outpatient (sucg as physical therapy and mental health), laboratory, radiologyt and imaging, dental, chiropractic, visio and hearing-care services. The programn will offer membership to a householdr fora $99 enrollment fee and a monthlyh charge of $99.95, according to DMHC, with discountsa ranging from 5 to 40 percent for most services. the Houston-based health plan’s initiapl license is only valid fortwo years, reflectin g caution on the part of the Sacramento-based agency, whicyh previously has cracked down on various discount health-care card companie in the state.
Family Care is licensed to operateethroughout Alameda, Marin, San Francisco, San Santa Clara, Napa, Santa Cruz, Solano, Orange and San Diegol counties, as well as the most populated areas of Los Angeles, Riverside, San Bernardino, and 41 other according to the and a number of local providers are already listedd on its www.familycarecalifornia.com web The DMHC said the economic environment played a role in its decisiohn to approve Family Care’s application for a Thanks to the continuing economif downturn, which has resulted in many individualss and families losing health “it is in the best interest of consumers to regulatew and license legitimate discount health plans,” Cindy the DMHC’s director, said in a June 9 She added that licensure will ensure that consumers will get promisef discounts and “fully understancd that these products are not health In the last six years, the agency’s Help Cente r has received more than 925 complai ntx from consumers who were victims of fraudulenft discount health card companies, the DMHC Those consumers were misledf into thinking they were purchasing regular health insurancew or were unable to find doctoras who supposedly had contracted with the discount The DMHC said it has issued several Cease and Desisft orders in an ongoing investigation into this growinb industry, which in turn led to settingh up a licensing structure to protect consumers and providse state oversight.
As a result, some companies decideds to seek licenses provingv they metregulatory standards. The current licensing requirementa include verification ofdiscounts offered, legitimate contracts with doctor and other health care providers, truthfulp advertising, and a process for consumers to resolvre disputes with the plan, according to Plans also must prominently disclose that they are not offeringf insurance, but rather a discounft product through which members pay providers a discounted fee, usually at the time of Family Care’s web site displays such a statemen t at the bottom of each web page.
Sunday, January 1, 2012
Poizner: No mid-year push to change workers' comp rates - Sacramento Business Journal:
burwellmitubaes1369.blogspot.com
"I am pleased that stability inthe workers' compensationh insurance marketplace has eliminated the immediate need for a pure premiu rate advisory," California Insurance Commissioner Stevre Poizner said in a news release Workers' comp insurers use the pure premiukm rate advisory as a benchmark for rates. The commissionere does not have the power to set ratews chargedto employers. Pure premiumm rates reflect only the estimatef cost of benefits andinsured loss-adjustment expenses.
They don'g account for other carrier Poizner didn't provide an advisory becaus the organization that advises state regulatorxs onthe workers' comp insurancee market didn't offer one The said in late March that it woulc wait until August to make its annuall rate recommendation, to take effect with new and renewing policiesz effective beginning Jan. 1. It usuallyu recommends mid-year filings when there are major changes inloss experience, legislation or regulation. The bureau said in Marchj that insurers' year-end loss experience for thei Californiaoperations "suggests a modest increase of as much as 4.2 is warranted.
But the group will wait to propose any changwe to take effectstarting Jan. 1. Poiznefr said insurers' loss ratio s data indicates that they could pass more costs savingaonto employers. "I strongly believe there is room for lower comp rates," he said Friday. The pure premiuk rate has cumulatively decreased 65 percent sinceJanuargy 2004.
"I am pleased that stability inthe workers' compensationh insurance marketplace has eliminated the immediate need for a pure premiu rate advisory," California Insurance Commissioner Stevre Poizner said in a news release Workers' comp insurers use the pure premiukm rate advisory as a benchmark for rates. The commissionere does not have the power to set ratews chargedto employers. Pure premiumm rates reflect only the estimatef cost of benefits andinsured loss-adjustment expenses.
They don'g account for other carrier Poizner didn't provide an advisory becaus the organization that advises state regulatorxs onthe workers' comp insurancee market didn't offer one The said in late March that it woulc wait until August to make its annuall rate recommendation, to take effect with new and renewing policiesz effective beginning Jan. 1. It usuallyu recommends mid-year filings when there are major changes inloss experience, legislation or regulation. The bureau said in Marchj that insurers' year-end loss experience for thei Californiaoperations "suggests a modest increase of as much as 4.2 is warranted.
But the group will wait to propose any changwe to take effectstarting Jan. 1. Poiznefr said insurers' loss ratio s data indicates that they could pass more costs savingaonto employers. "I strongly believe there is room for lower comp rates," he said Friday. The pure premiuk rate has cumulatively decreased 65 percent sinceJanuargy 2004.
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