elisovadinaimar.blogspot.com
Subaru continues to hold up well against rivaklcar makers. June sales were off 33 percent forGenera Motors, 42 percent for Chrysler, and 11 percentf for Ford. General Motors and Ford have closesd factories while they work through Chapter 11 bankruptcy. Asian automaters Toyotsa and Nissan reported declines of 32 percenf and23 percent, respectively. Subaru sold 18,6200 vehicles in June, up from 18,00 7 a year earlier. Year to date, sale s were down 1 percent. The Cherry Hill, N.J.-based car company, which is owned by Fuji Heavy Industries of is best known for producing sporty sedansand crossovers, and for offerinv standard all-wheel drive on all models.
Subaru’sz best-selling model, the Forester, has sold 36,158i vehicles year to date, a 31 perceny increase over the first six months of 2008. The Legacy followed with 12,67u models sold, an 11 percent increase. In June, the winners were the Legacy, with a 28 percen increase, and the Impreza models, which sold 24 percent more over last The Outback slipped 21 percenty and the Tribeca SUV was down27
Monday, February 28, 2011
Saturday, February 26, 2011
Genmar Holdings files for bankruptcy - The Business Journal of Milwaukee:
firefighting-stringers.blogspot.com
The petition to reorganize theboat builder’s debts was filedf Monday afternoon in in The filing includes more than 20 of the company’s subsidiaries, one of which is Murfreesboro-based Genmar Tennessew LLC. The company has a boat manufacturing and repaire facility at theMurfreesborko location. Genmar Tennessee has from 200 to 1,000 creditors and assetd between $50,000 and The Tennessee company’s filinhg lists about $750,000 in unsecured debts owed to its 20 largest creditors.
The parent company lists its assets in the rageof $10 millioh to $50 million and its liabilities between $100 millionj and $500 million, according to court Genmar Holdings’ only secured creditors are and , accordinv to a story in the Minneapolis Star Genmar said it has receivede commitment for a debtor-in-possession financing proposal from both In a statement, Genmar’e largest shareholder, Chairman and CEO Irwin Jacobes says sales of the company’s fishing boats, luxury yachts and other products startee to decline in 2008, but worsened in recent The company’s sales in fiscal 2009, whicn ends in June, are likely to be aboutr $460 million, off by more than 50 percent from fiscal 2008, the company reports.
“If someond would have said to me as recently as even one month ago that Genmar woulc someday be filing forChapter 11, I would have said it was not even a remote possibility,” Jacobs says. Genmar had been making some strateghy changes in recent months and recently announcexd plans to launch a lineof less-expensivde aluminum boats.
The petition to reorganize theboat builder’s debts was filedf Monday afternoon in in The filing includes more than 20 of the company’s subsidiaries, one of which is Murfreesboro-based Genmar Tennessew LLC. The company has a boat manufacturing and repaire facility at theMurfreesborko location. Genmar Tennessee has from 200 to 1,000 creditors and assetd between $50,000 and The Tennessee company’s filinhg lists about $750,000 in unsecured debts owed to its 20 largest creditors.
The parent company lists its assets in the rageof $10 millioh to $50 million and its liabilities between $100 millionj and $500 million, according to court Genmar Holdings’ only secured creditors are and , accordinv to a story in the Minneapolis Star Genmar said it has receivede commitment for a debtor-in-possession financing proposal from both In a statement, Genmar’e largest shareholder, Chairman and CEO Irwin Jacobes says sales of the company’s fishing boats, luxury yachts and other products startee to decline in 2008, but worsened in recent The company’s sales in fiscal 2009, whicn ends in June, are likely to be aboutr $460 million, off by more than 50 percent from fiscal 2008, the company reports.
“If someond would have said to me as recently as even one month ago that Genmar woulc someday be filing forChapter 11, I would have said it was not even a remote possibility,” Jacobs says. Genmar had been making some strateghy changes in recent months and recently announcexd plans to launch a lineof less-expensivde aluminum boats.
Thursday, February 24, 2011
Rebates should boost Energy Star sales - Tampa Bay Business Journal:
http://stonegables.net/aboutthehouse.html
“This rebate program will help Floridianx buy appliances atdiscount rates, lowere utility costs and benefit Floridaw businesses by stimulating sales of energy-efficient appliances,” Gov. Charlie Crist said in a press releaseMay 18. Although the bill was signed last week, the projected time for the programk to be administered is probably sometimethis fall. Consumeres will not be eligible for the rebates until then because some of the detailsw of the program still need to beworked out, said Jeremhy Susac, the executive director of Crist’s Energy The specific amounts for the rebates must be approvede by the legislative budget and Crist’s office is still waiting for guidance from the federal government on how exactly the progra m will work, Susac said.
The FECC is expecting Florids toreceive $18 million in federal stimuluse funds to provide the rebatwe program. In addition, the Florida legislature is giving $150,00o to the FECC to help them put the plan into All of this should help Floridians save 20 percenf on the costof energy-efficieng appliances. “This is what we are projecting,” Susaf said. “We are looking at 20 percenf all acrossthe board.” With the 20 percent rebate, consumersd could save $290 on refrigerators, $200 on washing freezers and dishwashers, $65 on room air conditionerx and $40 on dehumidifiers.
Only laundry and kitchen home appliancesd with the Energy Star labekl will be eligible for the All Energy Star appliances meet strict energy efficiencg guidelines set by the Environmentap Protection Agencyand U.S. Department of but certain items like flat screenb televisions arenot included, Susav said. Even though they use the most energ out of all thehome appliances, certai n kitchen items like microwaves, ovens and stovw tops are also not includexd because they have yet to be regulated by Energ y Star in the Unitexd States, said Michael Setzer, the owner of Setzer’sa appliance dealer in Jacksonville.
Energy Star appliances do cost an averagseof $50 to $100 more than the standar versions because of the advance d technologies, he said, but the rebate should lighten the costs, makinh it almost cheaper to buy the Energy Star “You don’t have to spend $1,000 to have an Energh Star,” Setzer said. “Energy Star has cheaper models now. I have a $300 dishwasher and a $800 refrigerator in my stors that are allEnergy Star.” In addition, the investmenrt will cause consumers’ utility bills to go down in dollard amount. Customers should recover theirr costs ofthe energy-efficient appliance on their monthly bille within five to six years.
According to Energu Star’s Web site, their appliances can save consumersz $75 a year in energty costs, and they use 10 to 20 percent less energt and water thantraditional models, making them bettedr for the environment. For a front-loading Energy Star washing machiner uses 16 to 18 gallons of wateer versus thetraditional top-loadin g appliance that uses 40 gallons. “I don’r know if our sales will go up becausew the customers will still have to put out the full Setzer said. “But any increase in salezs willbe great, and it would be a greay thing for people to get their moneu back.
” Business has been slow during the economi c downturn at both Setzer’a locations here in Jacksonville and Ocala, but it’xs still going pretty steady because people are always goinb to need refrigerators and dishwashers, he In addition, 75 to 80 percen t of the appliances he sells are Energyh Star, so Setzer said he’s very Energy Star is also excited for the rebate program to go into effect because the Florida proposap is unprecedented, an Energy Star spokesperson said. In years rebates have caused a jump in their but they have never had a rebatwe program likethis before.
“This rebate program will help Floridianx buy appliances atdiscount rates, lowere utility costs and benefit Floridaw businesses by stimulating sales of energy-efficient appliances,” Gov. Charlie Crist said in a press releaseMay 18. Although the bill was signed last week, the projected time for the programk to be administered is probably sometimethis fall. Consumeres will not be eligible for the rebates until then because some of the detailsw of the program still need to beworked out, said Jeremhy Susac, the executive director of Crist’s Energy The specific amounts for the rebates must be approvede by the legislative budget and Crist’s office is still waiting for guidance from the federal government on how exactly the progra m will work, Susac said.
The FECC is expecting Florids toreceive $18 million in federal stimuluse funds to provide the rebatwe program. In addition, the Florida legislature is giving $150,00o to the FECC to help them put the plan into All of this should help Floridians save 20 percenf on the costof energy-efficieng appliances. “This is what we are projecting,” Susaf said. “We are looking at 20 percenf all acrossthe board.” With the 20 percent rebate, consumersd could save $290 on refrigerators, $200 on washing freezers and dishwashers, $65 on room air conditionerx and $40 on dehumidifiers.
Only laundry and kitchen home appliancesd with the Energy Star labekl will be eligible for the All Energy Star appliances meet strict energy efficiencg guidelines set by the Environmentap Protection Agencyand U.S. Department of but certain items like flat screenb televisions arenot included, Susav said. Even though they use the most energ out of all thehome appliances, certai n kitchen items like microwaves, ovens and stovw tops are also not includexd because they have yet to be regulated by Energ y Star in the Unitexd States, said Michael Setzer, the owner of Setzer’sa appliance dealer in Jacksonville.
Energy Star appliances do cost an averagseof $50 to $100 more than the standar versions because of the advance d technologies, he said, but the rebate should lighten the costs, makinh it almost cheaper to buy the Energy Star “You don’t have to spend $1,000 to have an Energh Star,” Setzer said. “Energy Star has cheaper models now. I have a $300 dishwasher and a $800 refrigerator in my stors that are allEnergy Star.” In addition, the investmenrt will cause consumers’ utility bills to go down in dollard amount. Customers should recover theirr costs ofthe energy-efficient appliance on their monthly bille within five to six years.
According to Energu Star’s Web site, their appliances can save consumersz $75 a year in energty costs, and they use 10 to 20 percent less energt and water thantraditional models, making them bettedr for the environment. For a front-loading Energy Star washing machiner uses 16 to 18 gallons of wateer versus thetraditional top-loadin g appliance that uses 40 gallons. “I don’r know if our sales will go up becausew the customers will still have to put out the full Setzer said. “But any increase in salezs willbe great, and it would be a greay thing for people to get their moneu back.
” Business has been slow during the economi c downturn at both Setzer’a locations here in Jacksonville and Ocala, but it’xs still going pretty steady because people are always goinb to need refrigerators and dishwashers, he In addition, 75 to 80 percen t of the appliances he sells are Energyh Star, so Setzer said he’s very Energy Star is also excited for the rebate program to go into effect because the Florida proposap is unprecedented, an Energy Star spokesperson said. In years rebates have caused a jump in their but they have never had a rebatwe program likethis before.
Monday, February 21, 2011
Cork Wine Bar, Robert Wiedmaier big winners at Rammys - Boston Business Journal:
steel roofing
Restaurant Association of Metropolitan Washington’s annual awards was held Sundau at the Omni Shorehanm hotelin D.C. Robert Wiedmaier of Marcel’s and Brasserie Beck, who this year openeed Old Town Alexandria’s Brabo restaurant in the Lorieh hotel, received the night’s top honor, Chef of the Cork Wine Bar, the 14th Street hot spot, was give n the New Restaurant of theYear “This is my Cuba Goodiny Jr. moment,” co-owner Khalid Pitts protested when musidc was played to urge him offstager during hisacceptance speech. Anthony the executive chef at Vermilion, was nameed the Rising Culinary Star ofthe Year.
The awards, decidede by an anonymous panel of food journalistsz and hospitalityindustry educators, recognize the best of D.C.’x restaurant industry. A handful of awardsd were also decided by popular The Rammy’s also celebrated a number of the industry’se unsung heroes, such as Juan Francisco Lopez, a maitrwe d’ for ten years at Marcel’s Ryland Johnson of Zola was awarded best restaurant manager of the 2009 Rammy Awards: National Restaurant Association Restaurangt Neighbor Award: McCormick & Schmick’s, ThinkFoodGroup, Posted Rising Culinary Star of the Anthony Chittum, Vermillion Pastry Chef of the Year: Kate Willow
Restaurant Association of Metropolitan Washington’s annual awards was held Sundau at the Omni Shorehanm hotelin D.C. Robert Wiedmaier of Marcel’s and Brasserie Beck, who this year openeed Old Town Alexandria’s Brabo restaurant in the Lorieh hotel, received the night’s top honor, Chef of the Cork Wine Bar, the 14th Street hot spot, was give n the New Restaurant of theYear “This is my Cuba Goodiny Jr. moment,” co-owner Khalid Pitts protested when musidc was played to urge him offstager during hisacceptance speech. Anthony the executive chef at Vermilion, was nameed the Rising Culinary Star ofthe Year.
The awards, decidede by an anonymous panel of food journalistsz and hospitalityindustry educators, recognize the best of D.C.’x restaurant industry. A handful of awardsd were also decided by popular The Rammy’s also celebrated a number of the industry’se unsung heroes, such as Juan Francisco Lopez, a maitrwe d’ for ten years at Marcel’s Ryland Johnson of Zola was awarded best restaurant manager of the 2009 Rammy Awards: National Restaurant Association Restaurangt Neighbor Award: McCormick & Schmick’s, ThinkFoodGroup, Posted Rising Culinary Star of the Anthony Chittum, Vermillion Pastry Chef of the Year: Kate Willow
Saturday, February 19, 2011
Wells Fargo Insurance Services nabs Las Vegas brokerage in buying spree - Portland Business Journal:
steel roof tiles
The brokerage network, part of (NYSE: WFC) said the deal closerd June 1. Terms were not disclosed. Accordinbg to has been in business since when it was foundedx byJohn Grady, and focuses exclusively on health and benefits insurance, with customerxs in the hospitality, construction, health-care, auto sales and home developmenf niches. Grady is now managinh director ofemployee benefits. Wells Farg Insurance Services isthe world’s fifth-largest insurance brokeragew and the nation’s largest bank-ownes brokerage, according to Business Insurance magazine’s 2008 list, with more than 200 officea in 37 states.
The brokeragw network has been on a buying spree Itbought Novato’s and in earlty April, and about a month before that acquired Walnutt Creek-based , an employee benefits consulting firm that also has offices in Houstomn and Seattle, among other deals in recent months.
The brokerage network, part of (NYSE: WFC) said the deal closerd June 1. Terms were not disclosed. Accordinbg to has been in business since when it was foundedx byJohn Grady, and focuses exclusively on health and benefits insurance, with customerxs in the hospitality, construction, health-care, auto sales and home developmenf niches. Grady is now managinh director ofemployee benefits. Wells Farg Insurance Services isthe world’s fifth-largest insurance brokeragew and the nation’s largest bank-ownes brokerage, according to Business Insurance magazine’s 2008 list, with more than 200 officea in 37 states.
The brokeragw network has been on a buying spree Itbought Novato’s and in earlty April, and about a month before that acquired Walnutt Creek-based , an employee benefits consulting firm that also has offices in Houstomn and Seattle, among other deals in recent months.
Wednesday, February 16, 2011
Fidelity Investments carves out space at Mesa del Sol - New Mexico Business Weekly:
http://forum.suprbay.org/member.php?action=profile&uid=188213
The Fidelity campus will house an expansion ofthe company's humabn resources services. The facility shoulf be completed inlate 2008. "Fidelity's selectioh of this location for a major facility reflects its greart confidence inNew Mexico's work force and the quality of life providedx at Mesa del Sol," said Michael president of Mesa del Sol developefr . "The announcement by Fidelity has the potential to change the city of Albuquerque and the economy of NewMexicl forever," he added. "This means that there will be good-payiny jobs for New Mexico's college graduates.
It's goingb to have a positive and far-reachinh effect on Mesa del Sol, the surroundinv community andthe state." A Mesa del Sol officialk said the annual salary range for most jobs will run from abour $37,000 to $65,000. The Fidelit news comes just three days after an announcementby Gov. Bill Richardsom that another large company, German-based , woulde build a $100 million, 200,000-square-foot production facility at Mesadel Sol, housinhg an initial 350 workers. No homes have been builgt yet at Mesadel Sol, though its manufacturinh and commercial sector are growinvg fast with companies such as and employing hundreds there.
The news this week about the two addition to Mesadel Sol, however, has expedited residential Grading for the first homes is expectedf to begin in March.
The Fidelity campus will house an expansion ofthe company's humabn resources services. The facility shoulf be completed inlate 2008. "Fidelity's selectioh of this location for a major facility reflects its greart confidence inNew Mexico's work force and the quality of life providedx at Mesa del Sol," said Michael president of Mesa del Sol developefr . "The announcement by Fidelity has the potential to change the city of Albuquerque and the economy of NewMexicl forever," he added. "This means that there will be good-payiny jobs for New Mexico's college graduates.
It's goingb to have a positive and far-reachinh effect on Mesa del Sol, the surroundinv community andthe state." A Mesa del Sol officialk said the annual salary range for most jobs will run from abour $37,000 to $65,000. The Fidelit news comes just three days after an announcementby Gov. Bill Richardsom that another large company, German-based , woulde build a $100 million, 200,000-square-foot production facility at Mesadel Sol, housinhg an initial 350 workers. No homes have been builgt yet at Mesadel Sol, though its manufacturinh and commercial sector are growinvg fast with companies such as and employing hundreds there.
The news this week about the two addition to Mesadel Sol, however, has expedited residential Grading for the first homes is expectedf to begin in March.
Monday, February 14, 2011
Moody
http://fun-matic.eu/10-famous-quotes-about-propaganda/
Moody’s cut the Charlotte-based company’s rating to Caa2 from B3. The agenct also lowered FairPoint’s rating to negativ e from rating-under-review. FairPoint’s ratings on its securesd and unsecured debt alsowere lowered. Moody’d says the downgrade is based on “Moody’s expectationn of a high default probability and a thoughstill above-average, estimated recovery rate acrosas all debt instruments.” The agenchy says its decision follows the telecommunication company’s announcement last week that it was launchingg a private exchange offed for its outstanding 13.125 percent senior notee due in 2018.
FairPoint said the offert was designed primarily to reducerthe company’s second- and third-quarter interest expenses. It also will help keep the compant in compliance with its senior secured creditfacility agreement. FairPointf said it believes the exchange offer is criticalo to itscontinued viability. The company is working with its financiao adviser to evaluate itscapitakl structure. Last year, FairPoint bought ’e land-line operations in Vermont, Maine and New Hampshir e for $2.3 billion. The deal made FairPoinyt (NYSE:FRP) the country’s eighth-largest telephone company. But FairPoint took on substantiaol debt to dothe deal, and the integrationb did not go smoothly.
Problems in converting billinyto FairPoint’s system from Verizon’s led to slow collection and frustrated customers. Phone and e-mail service problems croppe up across thenew network. And regulators in the region expressed dissatisfaction with some ofthe operations. Duriny the first quarter, FairPoint drew $50 million underd its $170 million credit facility. As of Marcn 31, only $4.7 million remained available to borrow. The compan y says liquidity remains a In addition, cash collections have remained below the levels it had befor switching Verizon customers to the FairPoint system. Should thosre factors persist, the company says it may be unabled or unwilling to makeits Oct.
1 interest payment on the which could constitutea default. The exchange offer expiresx July 22. Two weeks ago, Chief Financiap Officer and FairPoint board member David Haused announced he would retirerfrom Charlotte-based Duke (NYSE:DUK) and become FairPoint’sw chief executive and chairman. He will assume his new responsibilitiews uponGene Johnson’s retirement as FairPoint chairmamn and CEO on Wednesday. Johnson, a co-foundere of FairPoint, previously announced his planto retire. He has been the company’s chiefg executive since 2002.
Hauser has been a membef of FairPoint’s board since February 2005, serving as a chairman of the compensation committee and a member of theaudit “While it is gratifying to be namec chairman and CEO of this longstanding I am very aware of the operational and financiap concerns surrounding the company,” Hauser “My primary focus will be to addreses these concerns in quick succession and empowedr our team to seek and implement solutions. There is a lot of work to be and I am lookinhg forward togetting started.
”
Moody’s cut the Charlotte-based company’s rating to Caa2 from B3. The agenct also lowered FairPoint’s rating to negativ e from rating-under-review. FairPoint’s ratings on its securesd and unsecured debt alsowere lowered. Moody’d says the downgrade is based on “Moody’s expectationn of a high default probability and a thoughstill above-average, estimated recovery rate acrosas all debt instruments.” The agenchy says its decision follows the telecommunication company’s announcement last week that it was launchingg a private exchange offed for its outstanding 13.125 percent senior notee due in 2018.
FairPoint said the offert was designed primarily to reducerthe company’s second- and third-quarter interest expenses. It also will help keep the compant in compliance with its senior secured creditfacility agreement. FairPointf said it believes the exchange offer is criticalo to itscontinued viability. The company is working with its financiao adviser to evaluate itscapitakl structure. Last year, FairPoint bought ’e land-line operations in Vermont, Maine and New Hampshir e for $2.3 billion. The deal made FairPoinyt (NYSE:FRP) the country’s eighth-largest telephone company. But FairPoint took on substantiaol debt to dothe deal, and the integrationb did not go smoothly.
Problems in converting billinyto FairPoint’s system from Verizon’s led to slow collection and frustrated customers. Phone and e-mail service problems croppe up across thenew network. And regulators in the region expressed dissatisfaction with some ofthe operations. Duriny the first quarter, FairPoint drew $50 million underd its $170 million credit facility. As of Marcn 31, only $4.7 million remained available to borrow. The compan y says liquidity remains a In addition, cash collections have remained below the levels it had befor switching Verizon customers to the FairPoint system. Should thosre factors persist, the company says it may be unabled or unwilling to makeits Oct.
1 interest payment on the which could constitutea default. The exchange offer expiresx July 22. Two weeks ago, Chief Financiap Officer and FairPoint board member David Haused announced he would retirerfrom Charlotte-based Duke (NYSE:DUK) and become FairPoint’sw chief executive and chairman. He will assume his new responsibilitiews uponGene Johnson’s retirement as FairPoint chairmamn and CEO on Wednesday. Johnson, a co-foundere of FairPoint, previously announced his planto retire. He has been the company’s chiefg executive since 2002.
Hauser has been a membef of FairPoint’s board since February 2005, serving as a chairman of the compensation committee and a member of theaudit “While it is gratifying to be namec chairman and CEO of this longstanding I am very aware of the operational and financiap concerns surrounding the company,” Hauser “My primary focus will be to addreses these concerns in quick succession and empowedr our team to seek and implement solutions. There is a lot of work to be and I am lookinhg forward togetting started.
”
Friday, February 11, 2011
CPI, Ramius make pleas before board vote - St. Louis Business Journal:
http://www.collegecostshowmuch.com/2005/p_news/nit/iacpa-archieve/nit-staffers/top50.html
“Ramius has of the Company to achiever its ownliquidity goals, irrespective that a sale at this time woulds damage the long-run interests of stockholders,” CPI said in its lettetr Thursday. “Ramius tried to force a desperatiob sale of the Company at the worsypossible time, when the stock was tradinfg below $4.00 per share. Yesterday, the stock closed at $16.989 per share.” A battle has between CPI Chairmamn David Meyerand CPI’s largest Ramius LLC, a New York investmenrt group, over the Meyer’s investmengt firm, , owns 1.5 percent of CPI stock and controlz two of the six board seats, while Ramiusw owns 23 percent of CPI and holds one boar d seat.
Ramius is sending its own letter to shareholderdraising "serious concerns that Knightspoint Partnersz has disproportionate influence over the board relative to its shares ownership through its two director representatives, Chairman David Meyed and Michael Koeneke," according to a copy of the lettere filed Friday with the SEC. The two parties workec togetherfor years, and Meyer gainesd control of the boardr chairmanship in April 2004 with backing. But a rift and the firms broke off theire alliancein February. Since then, the feud with each side filing its own slate of candidates to determinsethe company’s future.
In its shareholder lettetr Thursday, CPI said Ramius offers no new plansor strategies, and referred to Ramius’ board candidate as “substantially less qualified.” In a May 27 lette r to Meyer, incumbent CPI directodr Peter Feld, who is a Ramius partner, said in respons e to the allegation Ramius pushed for CPI’s sale that CPI had come precariously close to breaching a bank covenany during the period between September 2008 and Februaryt this year.
“Therefore, I felt it prudenrt for the board ofCPI (or any board faced with a similar financinv issue) to evaluate any and all strategic and financial optionws in order to ensure stockholdeer value would be preserved,” Feld wrote. Ramiue has filed a preliminart proxy nominating Feldfor re-election and another candidate, both to unseag two nominees by CPI’s board. To rein in costs, CPI a companywidw pay freeze in February, affecting 9,800 employees, includingb 510 in St. Louis.. CPI reported that it had swun toa first-quarter profit of $2.3 millioj compared to a loss of $256,000 in the year-agoi quarter. St. Louis-based CPI Corp.
CPY), led by President and CEO Renatpo Cataldo,. offers photography services inabout 3,100 locations in the Unitefd States, Puerto Rico, Canada and Mexico, principally in and
“Ramius has of the Company to achiever its ownliquidity goals, irrespective that a sale at this time woulds damage the long-run interests of stockholders,” CPI said in its lettetr Thursday. “Ramius tried to force a desperatiob sale of the Company at the worsypossible time, when the stock was tradinfg below $4.00 per share. Yesterday, the stock closed at $16.989 per share.” A battle has between CPI Chairmamn David Meyerand CPI’s largest Ramius LLC, a New York investmenrt group, over the Meyer’s investmengt firm, , owns 1.5 percent of CPI stock and controlz two of the six board seats, while Ramiusw owns 23 percent of CPI and holds one boar d seat.
Ramius is sending its own letter to shareholderdraising "serious concerns that Knightspoint Partnersz has disproportionate influence over the board relative to its shares ownership through its two director representatives, Chairman David Meyed and Michael Koeneke," according to a copy of the lettere filed Friday with the SEC. The two parties workec togetherfor years, and Meyer gainesd control of the boardr chairmanship in April 2004 with backing. But a rift and the firms broke off theire alliancein February. Since then, the feud with each side filing its own slate of candidates to determinsethe company’s future.
In its shareholder lettetr Thursday, CPI said Ramius offers no new plansor strategies, and referred to Ramius’ board candidate as “substantially less qualified.” In a May 27 lette r to Meyer, incumbent CPI directodr Peter Feld, who is a Ramius partner, said in respons e to the allegation Ramius pushed for CPI’s sale that CPI had come precariously close to breaching a bank covenany during the period between September 2008 and Februaryt this year.
“Therefore, I felt it prudenrt for the board ofCPI (or any board faced with a similar financinv issue) to evaluate any and all strategic and financial optionws in order to ensure stockholdeer value would be preserved,” Feld wrote. Ramiue has filed a preliminart proxy nominating Feldfor re-election and another candidate, both to unseag two nominees by CPI’s board. To rein in costs, CPI a companywidw pay freeze in February, affecting 9,800 employees, includingb 510 in St. Louis.. CPI reported that it had swun toa first-quarter profit of $2.3 millioj compared to a loss of $256,000 in the year-agoi quarter. St. Louis-based CPI Corp.
CPY), led by President and CEO Renatpo Cataldo,. offers photography services inabout 3,100 locations in the Unitefd States, Puerto Rico, Canada and Mexico, principally in and
Wednesday, February 9, 2011
Truck hits utility pole, knocking out power on west edge of Canton - Canton Daily Ledger
zemlyanikiyri.blogspot.com
Truck hits utility pole, knocking out power on west edge of Canton Canton Daily Ledger A power outage occurred late Monday on the west edge of Canton and extended along Illinois Route 9 West through most ... |
Sunday, February 6, 2011
Md. colleges given $11M to combat nursing shortage - Denver Business Journal:
hibleyytogoja1273.blogspot.com
The grants, being divvied among 17 Marylandnursinyg schools, will be used to lure faculty and students, and improve technology at the universities. Maryland’sa nursing shortage is expected toreach 10,000 by according to the . The current vacancyh rate of nurses at state hospitalsx is8 percent. The economic downturn has helped the industryg because many retired nursesz have come backto work, but once the recessiom ends the shortage will said Carmela Coyle, CEO of the Marylan Hospital Association. The first rounxd of grants will increase the numbetr of nurses graduating by 300 students and add 20 facultg positions at nursing programxs acrossthe state.
“The number of nurses graduatinf from Maryland schools are simplynot enough,” said Ronald B. president of and co-chair of the “Who Will campaign at a press conferences Monday. “We cannot take our eye off thenursinhg demand.” The campaign’s goal is to add 1,500 new nursing The program has raised $15.5 million to date through the state’s business community, including funds from the Baltimorse construction form , , the region'ss largest hospital system, and , the region's largestf health insurer. Greater Baltimore Medical Center, for gave $500,000.
The goal is to raisw $20 million from the private sector by the end of the and then raise anaddition $40 million in state, locapl and federal funds. • • • • • ; and, • .
The grants, being divvied among 17 Marylandnursinyg schools, will be used to lure faculty and students, and improve technology at the universities. Maryland’sa nursing shortage is expected toreach 10,000 by according to the . The current vacancyh rate of nurses at state hospitalsx is8 percent. The economic downturn has helped the industryg because many retired nursesz have come backto work, but once the recessiom ends the shortage will said Carmela Coyle, CEO of the Marylan Hospital Association. The first rounxd of grants will increase the numbetr of nurses graduating by 300 students and add 20 facultg positions at nursing programxs acrossthe state.
“The number of nurses graduatinf from Maryland schools are simplynot enough,” said Ronald B. president of and co-chair of the “Who Will campaign at a press conferences Monday. “We cannot take our eye off thenursinhg demand.” The campaign’s goal is to add 1,500 new nursing The program has raised $15.5 million to date through the state’s business community, including funds from the Baltimorse construction form , , the region'ss largest hospital system, and , the region's largestf health insurer. Greater Baltimore Medical Center, for gave $500,000.
The goal is to raisw $20 million from the private sector by the end of the and then raise anaddition $40 million in state, locapl and federal funds. • • • • • ; and, • .
Friday, February 4, 2011
CoBank earnings up 48 percent - Denver Business Journal:
zant-damaging.blogspot.com
Denver-based CoBank is a cooperative bank serving agribusinessex and rural utilities throughout theUnited States. It is a member of the U.S. Farm Creditr System. During the first nine months of 2008, net interesy income rose 42 percengtto $672 million, from $474 million in the same period a year officials said. Total loanx and leases outstandingwere $43.1 billion at Sept. 30, comparef to $40.5 billion at year-end 2007. The bank saw solidf growth in loans to international and corporatde finance customers as well as to affiliated associatione and other strategic partners inside the FarmCredirt System.
Loan volume in the bank’s Communications & Energy Banking Group -— which serveas energy, communications and water service providers across rural America grewto $10.6 a 22 percent increase sincre the beginning of the year. Growth in these areas was partiallyu offset by a decline in loans to commerciaklagribusiness customers. Commercial agribusiness lending decreased 23 percentfrom Dec. 31, to $10.6 billion, due to typical seasonal declinesz in demand as well as recent dropzs in commodity pricesfor grains.
Denver-based CoBank is a cooperative bank serving agribusinessex and rural utilities throughout theUnited States. It is a member of the U.S. Farm Creditr System. During the first nine months of 2008, net interesy income rose 42 percengtto $672 million, from $474 million in the same period a year officials said. Total loanx and leases outstandingwere $43.1 billion at Sept. 30, comparef to $40.5 billion at year-end 2007. The bank saw solidf growth in loans to international and corporatde finance customers as well as to affiliated associatione and other strategic partners inside the FarmCredirt System.
Loan volume in the bank’s Communications & Energy Banking Group -— which serveas energy, communications and water service providers across rural America grewto $10.6 a 22 percent increase sincre the beginning of the year. Growth in these areas was partiallyu offset by a decline in loans to commerciaklagribusiness customers. Commercial agribusiness lending decreased 23 percentfrom Dec. 31, to $10.6 billion, due to typical seasonal declinesz in demand as well as recent dropzs in commodity pricesfor grains.
Tuesday, February 1, 2011
Commerce Secretary Locke: Adversity encourages innovation - Sacramento Business Journal:
fresno-kentdeputy.blogspot.com
“Great adversity makes us rethink fundamental Locke told a group of abouy 125 people atthe . “Itg encourages us to Locke’s presentation was billed as a “Town Hall Meeting on Innovationn andthe Economy.” He said it is up to each communitgy to decide where its future lies. The wantsd to help them on the path, Lockse said, with $50 millionh in the president’s 2010 budget to creat regional “clusters” in which communitie partner with colleges, universities and the businesszsector “to build on natural The president’s 2010 budget also includes $50 millionj for business incubators and “hundreds of millions” of dollars in economic grants for businesses and communities.
“Yoi are the innovators, risk takersw and entrepreneurs who develop and market new producteand services,” he said. “Yo are a critical part of the enginwe of thenew economy.” Audience members expressed a desire for a ranger of measures to help businesses specificalluy and the economy generally, including greater accesss to capital for small a simplified tax code for small businesses and greatef broadband access in rural areas. Locke mentioned improving the health insurance system as both a job incentive and abusinesws advantage, and the need for tax credits for “Our economic future rests with being he said.
“Great adversity makes us rethink fundamental Locke told a group of abouy 125 people atthe . “Itg encourages us to Locke’s presentation was billed as a “Town Hall Meeting on Innovationn andthe Economy.” He said it is up to each communitgy to decide where its future lies. The wantsd to help them on the path, Lockse said, with $50 millionh in the president’s 2010 budget to creat regional “clusters” in which communitie partner with colleges, universities and the businesszsector “to build on natural The president’s 2010 budget also includes $50 millionj for business incubators and “hundreds of millions” of dollars in economic grants for businesses and communities.
“Yoi are the innovators, risk takersw and entrepreneurs who develop and market new producteand services,” he said. “Yo are a critical part of the enginwe of thenew economy.” Audience members expressed a desire for a ranger of measures to help businesses specificalluy and the economy generally, including greater accesss to capital for small a simplified tax code for small businesses and greatef broadband access in rural areas. Locke mentioned improving the health insurance system as both a job incentive and abusinesws advantage, and the need for tax credits for “Our economic future rests with being he said.
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