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Tuesday, January 31, 2012
Sunday, January 29, 2012
State Fund files for 15% July 1 workers
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The new rates will applyh to new and renewed policies effective on or afterJuly 1, officials said. Stated Fund has seen its premiuk volume dipfrom $2.3 billion in 2007 to just undet $1.7 billion last year, and its market share tumble from about 26 percent to less than 23 said spokeswoman Jennifer Vargen. Some of the decliner could be healthy, since the organization and a numberf of outside observers believedd its market share grew too larges and too rapidly during theearly 2000s. In asking for an increases lower thanthe 23.
7 percent July 1 increasse recommended by the Workers’ Compensation Insurance Rating Bureau, along with severalk other comp insurers, State Fund may have reducedc pressure on Insurance Commissioner Steve Poizner to clamp down on rate increasesx when he makes his own recommendations next month. Woodland Hills ' , one of the bigger players in the California comp filed for a 4 percent July and two entities have filedfor 10.3 percent increases. Several Guard Insurancer Group companies, meanwhile, filed for jumps in the 2.
2 percenf to 5 percent Poizner is expected to make his recommendatiojn after an upcoming public hearing on the and some industry observers have told the San Francisco Business Times they expect him to reluctantly recommendfa double-digit increase, albeir one far smaller than the WCIRB’s which was lowered from 24.4 percentf to 23.7 percent last month. Last Poizner cut the WCIRB’s recommended 16 percent Jan. 1, increase to just 5 percent, and most companies came in with rate jumpds inthat vicinity. California comp insurersw aren’t required to follow the Commissioner’s but they generally stick reasonably closde tothe commissioner’s advisory rate.
Jan Frank, Stat e Fund’s president and CEO, blamed the 15 percen increase on rapidly increasing medical costs in the comp sector. Those costs have jumpe about 16 percent annually for the pastthree years, accordinfg to the most recent report by the WCIRB, an industry-supportec advisory group. State Fund premium rates have fallen significantly sincee 2003 andearly 2004, when reformsw instituted by Governors Gray Davis and Arnold Schwarzenegger took effect, officials Even after this increase, its rateas will be 46 percent below pre-reform levels. that may be little consolation to policyholderxs battling a brutaleconomic slowdown.
The new rates will applyh to new and renewed policies effective on or afterJuly 1, officials said. Stated Fund has seen its premiuk volume dipfrom $2.3 billion in 2007 to just undet $1.7 billion last year, and its market share tumble from about 26 percent to less than 23 said spokeswoman Jennifer Vargen. Some of the decliner could be healthy, since the organization and a numberf of outside observers believedd its market share grew too larges and too rapidly during theearly 2000s. In asking for an increases lower thanthe 23.
7 percent July 1 increasse recommended by the Workers’ Compensation Insurance Rating Bureau, along with severalk other comp insurers, State Fund may have reducedc pressure on Insurance Commissioner Steve Poizner to clamp down on rate increasesx when he makes his own recommendations next month. Woodland Hills ' , one of the bigger players in the California comp filed for a 4 percent July and two entities have filedfor 10.3 percent increases. Several Guard Insurancer Group companies, meanwhile, filed for jumps in the 2.
2 percenf to 5 percent Poizner is expected to make his recommendatiojn after an upcoming public hearing on the and some industry observers have told the San Francisco Business Times they expect him to reluctantly recommendfa double-digit increase, albeir one far smaller than the WCIRB’s which was lowered from 24.4 percentf to 23.7 percent last month. Last Poizner cut the WCIRB’s recommended 16 percent Jan. 1, increase to just 5 percent, and most companies came in with rate jumpds inthat vicinity. California comp insurersw aren’t required to follow the Commissioner’s but they generally stick reasonably closde tothe commissioner’s advisory rate.
Jan Frank, Stat e Fund’s president and CEO, blamed the 15 percen increase on rapidly increasing medical costs in the comp sector. Those costs have jumpe about 16 percent annually for the pastthree years, accordinfg to the most recent report by the WCIRB, an industry-supportec advisory group. State Fund premium rates have fallen significantly sincee 2003 andearly 2004, when reformsw instituted by Governors Gray Davis and Arnold Schwarzenegger took effect, officials Even after this increase, its rateas will be 46 percent below pre-reform levels. that may be little consolation to policyholderxs battling a brutaleconomic slowdown.
Friday, January 27, 2012
Moody
batyushkinuxit.blogspot.com
Moody’s cut the Charlotte-based company’s ratinhg to Caa2 from B3. The agency also lowered FairPoint’s rating to negativre from rating-under-review. FairPoint’s ratings on its secure and unsecured debt alsowere lowered. Moody’xs says the downgrade is basedon “Moody’s expectatiob of a high default probability and a though still above-average, estimated recoveryy rate across all debt instruments.” The agency says its decisiob follows the telecommunication company’s announcemen last week that it was launching a privatwe exchange offer for its outstanding 13.125 percent seniorf notes due in 2018.
FairPointr said the offer was designed primarily to reducethe company’se second- and third-quarter interest expenses. It also will help keep the company in compliance with its senior secured creditfacility agreement. FairPoint said it believes the exchange offer is criticaol to itscontinued viability. The compan is working with its financial adviserf to evaluate itscapital structure. Last year, FairPoinft bought ’s land-line operationas in Vermont, Maine and New Hampshirer for $2.3 billion. The deal made FairPoint (NYSE:FRP) the country’e eighth-largest telephone company.
But FairPoint took on substantialo debt to dothe deal, and the integration did not go Problems in converting billingh to FairPoint’s system from Verizon’s led to slow collections and frustratefd customers. Phone and e-mail service probleme cropped up across thenew network. And regulators in the regiohn expressed dissatisfaction with some of the During thefirst quarter, FairPoint drew $50 millionh under its $170 million credit facility. As of Marcnh 31, only $4.
7 million remained available to The company says liquidity remains a In addition, cash collections have remainesd below the levels it had before switching Verizoh customers to the FairPoint Should those factors persist, the company says it may be unablee or unwilling to make its Oct. 1 interesty payment on the notes, which coulf constitute a default. The exchangw offer expires July 22. Two weeks ago, Chief Financialk Officer and FairPoint board member David Hausedr announced he would retirefrom Charlotte-based Duke and become FairPoint’s chief executivr and chairman.
He will assume his new responsibilities uponGene Johnson’x retirement as FairPoint chairmajn and CEO on Wednesday. Johnson, a co-founder of FairPoint, previously announced his planxto retire. He has been the company’s chied executive since 2002. Hauser has been a member of FairPoint’d board since February 2005, serving as a chairman of the compensation committee and a membefr of theaudit committee. “While it is gratifying to be namer chairman and CEO of thislongstandintg organization, I am very aware of the operationaol and financial concerns surrounding the company,” Hausedr says.
“My primary focus will be to address these concerns in quick succession and empowere our team to seek and implement There is a lot of work to be and I am looking forward togetting
Moody’s cut the Charlotte-based company’s ratinhg to Caa2 from B3. The agency also lowered FairPoint’s rating to negativre from rating-under-review. FairPoint’s ratings on its secure and unsecured debt alsowere lowered. Moody’xs says the downgrade is basedon “Moody’s expectatiob of a high default probability and a though still above-average, estimated recoveryy rate across all debt instruments.” The agency says its decisiob follows the telecommunication company’s announcemen last week that it was launching a privatwe exchange offer for its outstanding 13.125 percent seniorf notes due in 2018.
FairPointr said the offer was designed primarily to reducethe company’se second- and third-quarter interest expenses. It also will help keep the company in compliance with its senior secured creditfacility agreement. FairPoint said it believes the exchange offer is criticaol to itscontinued viability. The compan is working with its financial adviserf to evaluate itscapital structure. Last year, FairPoinft bought ’s land-line operationas in Vermont, Maine and New Hampshirer for $2.3 billion. The deal made FairPoint (NYSE:FRP) the country’e eighth-largest telephone company.
But FairPoint took on substantialo debt to dothe deal, and the integration did not go Problems in converting billingh to FairPoint’s system from Verizon’s led to slow collections and frustratefd customers. Phone and e-mail service probleme cropped up across thenew network. And regulators in the regiohn expressed dissatisfaction with some of the During thefirst quarter, FairPoint drew $50 millionh under its $170 million credit facility. As of Marcnh 31, only $4.
7 million remained available to The company says liquidity remains a In addition, cash collections have remainesd below the levels it had before switching Verizoh customers to the FairPoint Should those factors persist, the company says it may be unablee or unwilling to make its Oct. 1 interesty payment on the notes, which coulf constitute a default. The exchangw offer expires July 22. Two weeks ago, Chief Financialk Officer and FairPoint board member David Hausedr announced he would retirefrom Charlotte-based Duke and become FairPoint’s chief executivr and chairman.
He will assume his new responsibilities uponGene Johnson’x retirement as FairPoint chairmajn and CEO on Wednesday. Johnson, a co-founder of FairPoint, previously announced his planxto retire. He has been the company’s chied executive since 2002. Hauser has been a member of FairPoint’d board since February 2005, serving as a chairman of the compensation committee and a membefr of theaudit committee. “While it is gratifying to be namer chairman and CEO of thislongstandintg organization, I am very aware of the operationaol and financial concerns surrounding the company,” Hausedr says.
“My primary focus will be to address these concerns in quick succession and empowere our team to seek and implement There is a lot of work to be and I am looking forward togetting
Tuesday, January 24, 2012
Quiksilver secures $150M term loan, posts 2Q profit - Business First of Louisville:
http://www.drkatte.com/lifestyle/is-jon-hamm-hotter-shirtless-or-in-a-suit/
The Huntington Beach company (NYSE: ZQK) also postede second-quarter earnings of $2.8 The five-year term loan with private-equit y firm Rhone was made toimprove Quiksilver's liquidity and solidify its bankint relationships. As part of the terms of the Quiksilver will name a pair of Rhonee appointees to its board of Quiksilver also refinanced its crediyt facility with anew three-year, $200 millioj facility led by and . The companyh is also in discussions with its French bankin partners to consolidate its European debts into anew multi-year facility.
In the company'sw earnings report, the compant swung to profitability in theseconsd quarter, posting the earnings of 2 centzs a share, which included severa l one-time items. Without the items, the earningx per share would have been 5 cents a share. Analyst estimates placed the earningx at 9 cents a Sales dropped17 percent, coming in at $494.2q million. In the second quarter a year ago, the company lost $206.2 million, or $1.59 a share, on salex of $596.3 million. That quarter included losses of $244.9 million from discontinued operations. Quiksilver is an apparelp and accessories company. Its core brands are Roxy and DC.
A renewed focud on those core brands are the focux ofthe company's long-term plan to improvw profits.
The Huntington Beach company (NYSE: ZQK) also postede second-quarter earnings of $2.8 The five-year term loan with private-equit y firm Rhone was made toimprove Quiksilver's liquidity and solidify its bankint relationships. As part of the terms of the Quiksilver will name a pair of Rhonee appointees to its board of Quiksilver also refinanced its crediyt facility with anew three-year, $200 millioj facility led by and . The companyh is also in discussions with its French bankin partners to consolidate its European debts into anew multi-year facility.
In the company'sw earnings report, the compant swung to profitability in theseconsd quarter, posting the earnings of 2 centzs a share, which included severa l one-time items. Without the items, the earningx per share would have been 5 cents a share. Analyst estimates placed the earningx at 9 cents a Sales dropped17 percent, coming in at $494.2q million. In the second quarter a year ago, the company lost $206.2 million, or $1.59 a share, on salex of $596.3 million. That quarter included losses of $244.9 million from discontinued operations. Quiksilver is an apparelp and accessories company. Its core brands are Roxy and DC.
A renewed focud on those core brands are the focux ofthe company's long-term plan to improvw profits.
Sunday, January 22, 2012
Saepio Technologies' Success Model Delivers Quick ROI and Fast Implementation for Companies Deploying Marketing Asset Management Technology
ulyanaimiiurebor.blogspot.com
June 2 /PRNewswire/ -- Saepio Technologies is helpingv corporations and organizations with a rapid implementation and fast returnm oninvestment (ROI) of Marketing Asset Management "In today's business environment, we have to show resultds quickly," said , vice presidengt of client services for Saepio Technologies. "We don't have a year to implementt a system and show apositive ROI. Our clients need to starg saving money and gaining efficiencies withinm onebusiness quarter.
" Saepio Professional Services has refineds its Success Model through more than 200 implementations of Saepiok Marketing Asset Management technology, which is designed to drivwe cost out of The software enables corporate marketers to maintain full brands control while giving their distributed marketing force (e.g., branch offices, franchises, agencies, and the ability to send the righgt message to the right person at the right The Saepio Success Model merges the rigod of sound IT projectf management with the creativ e collaboration that marketing professionals demand, allowing clients to begin achieving the benefitzs of a Marketing Asset Management system as quicklyu as possible.
The event-based Success Model allows clients to focuss on key build events and decisions in a compressedf format so they always know the status ofthe implementation. In most cases, Saepio can completed the implementation processin 30-456 days. For example, in Saepio launched a Fortune 50 client within 31 days ofproject kickoff. To complemen t the Success Model, a team of experienced graphic designere and artists teach clients and agencies how touse Saepio'e web-based tools during the implementation process. This ensures they are prepared to immediatelyh usethe system.
"No one can do a qualith implementation and providea brand-compliant and brand-extendinh Marketing Asset Management system more quickly and more thoroughl y than Saepio," said Siley. "The majorit of our clients are choosing to keep Saepio Professional Services engaged over the longterm - not becauswe they 'have to,' but because they see a substantial returm on their investment by partnering with the companyy that actually designed the software.
" More than 200 leading brands use Marketingg Asset Management systems powered by This includes every tenth company on the Interbranr Best Global Brands list; every seventh company in the Fortunre 100 ranking; and one out of everty six franchisors named to Franchise Times' Top 200. About Saepi Technologies, Inc. ( Saepio Technologies is the leadint providerof powerful, yet simple-to-use Marketing Assert Management technology for corporations with distributed marketin networks. These solutions combine digitaasset management, collateral customizationb and marketing process automation.
Saepio productsd are in use at hundreds of leading companies and including many ofthe world's most powerful brands. Saepio clientss include corporations who use Saepio products to empower locak marketers atregional offices, local dealerships and stores to tailof their messages to their specific audience. Advertisintg agencies and print service providers also deploy Saepiko solutions to add value to existing services and to creatw new revenue streams by helping clienta improve the way they supporft and manage the localmarketing process.
In addition to providing softwarwand tools, Saepio offers Asset Migration Campaign Support Services, Managed Marketing Storefront, and completw Business Process Outsource Programs providingy turn-key marketing automation solutions. SOURCE Saepi Technologies, Inc.
June 2 /PRNewswire/ -- Saepio Technologies is helpingv corporations and organizations with a rapid implementation and fast returnm oninvestment (ROI) of Marketing Asset Management "In today's business environment, we have to show resultds quickly," said , vice presidengt of client services for Saepio Technologies. "We don't have a year to implementt a system and show apositive ROI. Our clients need to starg saving money and gaining efficiencies withinm onebusiness quarter.
" Saepio Professional Services has refineds its Success Model through more than 200 implementations of Saepiok Marketing Asset Management technology, which is designed to drivwe cost out of The software enables corporate marketers to maintain full brands control while giving their distributed marketing force (e.g., branch offices, franchises, agencies, and the ability to send the righgt message to the right person at the right The Saepio Success Model merges the rigod of sound IT projectf management with the creativ e collaboration that marketing professionals demand, allowing clients to begin achieving the benefitzs of a Marketing Asset Management system as quicklyu as possible.
The event-based Success Model allows clients to focuss on key build events and decisions in a compressedf format so they always know the status ofthe implementation. In most cases, Saepio can completed the implementation processin 30-456 days. For example, in Saepio launched a Fortune 50 client within 31 days ofproject kickoff. To complemen t the Success Model, a team of experienced graphic designere and artists teach clients and agencies how touse Saepio'e web-based tools during the implementation process. This ensures they are prepared to immediatelyh usethe system.
"No one can do a qualith implementation and providea brand-compliant and brand-extendinh Marketing Asset Management system more quickly and more thoroughl y than Saepio," said Siley. "The majorit of our clients are choosing to keep Saepio Professional Services engaged over the longterm - not becauswe they 'have to,' but because they see a substantial returm on their investment by partnering with the companyy that actually designed the software.
" More than 200 leading brands use Marketingg Asset Management systems powered by This includes every tenth company on the Interbranr Best Global Brands list; every seventh company in the Fortunre 100 ranking; and one out of everty six franchisors named to Franchise Times' Top 200. About Saepi Technologies, Inc. ( Saepio Technologies is the leadint providerof powerful, yet simple-to-use Marketing Assert Management technology for corporations with distributed marketin networks. These solutions combine digitaasset management, collateral customizationb and marketing process automation.
Saepio productsd are in use at hundreds of leading companies and including many ofthe world's most powerful brands. Saepio clientss include corporations who use Saepio products to empower locak marketers atregional offices, local dealerships and stores to tailof their messages to their specific audience. Advertisintg agencies and print service providers also deploy Saepiko solutions to add value to existing services and to creatw new revenue streams by helping clienta improve the way they supporft and manage the localmarketing process.
In addition to providing softwarwand tools, Saepio offers Asset Migration Campaign Support Services, Managed Marketing Storefront, and completw Business Process Outsource Programs providingy turn-key marketing automation solutions. SOURCE Saepi Technologies, Inc.
Friday, January 20, 2012
Bizjournals debuts online business directory - New Mexico Business Weekly:
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The directory is based on proprietary researcjhfrom bizjournals. It can be sorted by 14 industry categorieds andby location, business name or Bizjournals is the online division of , the New Mexico Busines Weekly’s parent company. The directory can be accessed from all the home pagedof ACBJ’s publications. Users can rate businessed that are included inthe directory, submitt their own companies for inclusion or submit changes to existintg listings. “With the new Local Businessz Directory, we’re giving businesses a new way to connectyand succeed,” said Tim Bradbury, president of ACBJ New which oversees bizjournals.
“Itt ratchets up the value of our local businesajournal sites, which millions of people alreadyg regard as critical to their competitiveness.” Bizjournals operates the Web sitexs for each of American City Businesd Journals’ 40 print business newspaperw and operates a Web-only site with locakl business news and information for Los Bizjournals’ open-access archives contain 1.25 milliomn business news articles and features published since 1996. Bizjournals’ sitesa have more than 8 million uniquemonthlt visitors.
The directory is based on proprietary researcjhfrom bizjournals. It can be sorted by 14 industry categorieds andby location, business name or Bizjournals is the online division of , the New Mexico Busines Weekly’s parent company. The directory can be accessed from all the home pagedof ACBJ’s publications. Users can rate businessed that are included inthe directory, submitt their own companies for inclusion or submit changes to existintg listings. “With the new Local Businessz Directory, we’re giving businesses a new way to connectyand succeed,” said Tim Bradbury, president of ACBJ New which oversees bizjournals.
“Itt ratchets up the value of our local businesajournal sites, which millions of people alreadyg regard as critical to their competitiveness.” Bizjournals operates the Web sitexs for each of American City Businesd Journals’ 40 print business newspaperw and operates a Web-only site with locakl business news and information for Los Bizjournals’ open-access archives contain 1.25 milliomn business news articles and features published since 1996. Bizjournals’ sitesa have more than 8 million uniquemonthlt visitors.
Wednesday, January 18, 2012
Oscar's Foreign Entries: Steve Pond's Shortlist Predictions - Reuters
obofym.wordpress.com
Oscar's Foreign Entries: Steve Pond's Shortlist Predictions Reuters General committee members have viewed and scored all 63 of the entries, and PricewaterhouseCoopers has reviewed the ballots and come up with a list of the voters' six favorite films. On Tuesday evening, they will reveal that list to an executive ... |
Monday, January 16, 2012
Ford will stop Claycomo F-150 production for a week - Orlando Business Journal:
stony-coating.blogspot.com
The UAW Local 249 posted the informatiom in a newsletter on itsWeb site. Local 249 Vice Presidenf Bobby Wyse confirmed Monday that the informationmis accurate. The productionb stoppage comes a week before an alreadyschedulecd one-week summer break for the entirw plant starting June 29, a Localk 249 spokeswoman said. The planyt also is scheduled for a summer breaik during the weekof Aug. 17. Sales of Ford F-seriez trucks were 33,381 in May, up 16 percent from 28,758 in April but down 22.3 percen t from 42,973 in May 2008.
UAW Local 249 said the slighgt increasein month-to-month sales enabled Ford (NYSE: F) to cancep the scheduled down week on June 22 at its F-150p truck plant in Dearborn, Mich., but the down week was left intacr at the Kansas City Assemblt Plant. “This is partially due to depleteed funds forthe state’s Division of Unemployment in making down weeks at less of an option,” the Locap 249 said in the Local 249 added that saled projections continue to be less than the five shiftd at the two truck plants can produce if they work full time throughn the 2010 production year. Ford runs two shiftss at Claycomo and threein Dearborn.
Wyse said Ford is considerinh once again moving a shift fromthe F-150 side of the Kansasx City Assembly Plant and putting them to work on the SUV However, nothing has been determined so far, he said. A year ago, Ford moverd about 800 workers from a second shifr onthe F-150 side of the Kansas City plant to a thirx shift on the SUV side. The employees were move back tothe F-15 0 side on Jan. 12. Ford Escapse sales in May reached 16,391, up 20.6 percent from 13,5967 in April but down 7.2 percent from 17,66 7 in May 2008. The Kansas City Assembly Plan t also produces the Mercury Marinedr and hybrid versions of the Ford Escaper andMercury Mariner.
Combined sales of hybridf versions of the Ford Mercury Milan, Ford Escape and Mercurty Mariner reached 3,906 in May, a new compan y record. The old sales record of 3,420 hybrid vehicles was set inApripl 2006. As of May, Ford’s Kansas City Assembl Plant in Claycomo hadabout 3,900 hourly and 200 salarieds employees.
The UAW Local 249 posted the informatiom in a newsletter on itsWeb site. Local 249 Vice Presidenf Bobby Wyse confirmed Monday that the informationmis accurate. The productionb stoppage comes a week before an alreadyschedulecd one-week summer break for the entirw plant starting June 29, a Localk 249 spokeswoman said. The planyt also is scheduled for a summer breaik during the weekof Aug. 17. Sales of Ford F-seriez trucks were 33,381 in May, up 16 percent from 28,758 in April but down 22.3 percen t from 42,973 in May 2008.
UAW Local 249 said the slighgt increasein month-to-month sales enabled Ford (NYSE: F) to cancep the scheduled down week on June 22 at its F-150p truck plant in Dearborn, Mich., but the down week was left intacr at the Kansas City Assemblt Plant. “This is partially due to depleteed funds forthe state’s Division of Unemployment in making down weeks at less of an option,” the Locap 249 said in the Local 249 added that saled projections continue to be less than the five shiftd at the two truck plants can produce if they work full time throughn the 2010 production year. Ford runs two shiftss at Claycomo and threein Dearborn.
Wyse said Ford is considerinh once again moving a shift fromthe F-150 side of the Kansasx City Assembly Plant and putting them to work on the SUV However, nothing has been determined so far, he said. A year ago, Ford moverd about 800 workers from a second shifr onthe F-150 side of the Kansas City plant to a thirx shift on the SUV side. The employees were move back tothe F-15 0 side on Jan. 12. Ford Escapse sales in May reached 16,391, up 20.6 percent from 13,5967 in April but down 7.2 percent from 17,66 7 in May 2008. The Kansas City Assembly Plan t also produces the Mercury Marinedr and hybrid versions of the Ford Escaper andMercury Mariner.
Combined sales of hybridf versions of the Ford Mercury Milan, Ford Escape and Mercurty Mariner reached 3,906 in May, a new compan y record. The old sales record of 3,420 hybrid vehicles was set inApripl 2006. As of May, Ford’s Kansas City Assembl Plant in Claycomo hadabout 3,900 hourly and 200 salarieds employees.
Saturday, January 14, 2012
Advanta agrees to refund customers up to $35M in FDIC agreements - Pacific Business News (Honolulu):
vavyzina.wordpress.com
That agreement addresses charges that theSpring House, Pa.-basecd company violated federal trade laws through its pricing strategies on businesws credit cards, and in its marketingb of cash-back rewards on the cards. Advantas said it did not admit wrongdoing and that it entered theagreements “in the interest of expediencyt and to avoid litigation.” Advanta said it took a $14 million charge to cover refunds tied to the alleged marketing violationsx in third-quarter 2008 and will take a second-quarted 2009 charge to cover refunds over its pricing which it said could totakl $21 million.
Advanta also agreed to a $150,000 In a separate agreement withthe FDIC, Advanta’s ability to use cash and pay dividends has been restricted. The company must submi t a plan toremain "well-capitalized," and submitt a plan to terminate its deposit-takingh operations and deposit insurance once its depositds are repaid in full, a process expected to take a few The second agreement with the FDIC places restrictionz on Advanta’s use of its cash assets, paymentr of dividends and transactions that woulc materially alter its balance sheet compositionn and taking of brokered Advanta said the second order does not in any way restricr it from continuing to service its manager credit-card accounts and receivables.
In an effort to limir losses and erosion of its capital ascredif deteriorates, Advanta said in early May that its securitizatiobn trust will go into earlu amortization — where the company uses receivable from customers to accelerate payment to investor While that protects investors from prolonged exposure to a pool of receivablez whose credit performance has Advanta would have needed an alternative way to fund new purchasea on its customers’ credit cards. So it had to shut down futurw use, effective May 30. It has since referred some customer to AmericanExpress Co. Advanta’s stock closedx 2 7 percent lower Wednesda y at42 cents.
That agreement addresses charges that theSpring House, Pa.-basecd company violated federal trade laws through its pricing strategies on businesws credit cards, and in its marketingb of cash-back rewards on the cards. Advantas said it did not admit wrongdoing and that it entered theagreements “in the interest of expediencyt and to avoid litigation.” Advanta said it took a $14 million charge to cover refunds tied to the alleged marketing violationsx in third-quarter 2008 and will take a second-quarted 2009 charge to cover refunds over its pricing which it said could totakl $21 million.
Advanta also agreed to a $150,000 In a separate agreement withthe FDIC, Advanta’s ability to use cash and pay dividends has been restricted. The company must submi t a plan toremain "well-capitalized," and submitt a plan to terminate its deposit-takingh operations and deposit insurance once its depositds are repaid in full, a process expected to take a few The second agreement with the FDIC places restrictionz on Advanta’s use of its cash assets, paymentr of dividends and transactions that woulc materially alter its balance sheet compositionn and taking of brokered Advanta said the second order does not in any way restricr it from continuing to service its manager credit-card accounts and receivables.
In an effort to limir losses and erosion of its capital ascredif deteriorates, Advanta said in early May that its securitizatiobn trust will go into earlu amortization — where the company uses receivable from customers to accelerate payment to investor While that protects investors from prolonged exposure to a pool of receivablez whose credit performance has Advanta would have needed an alternative way to fund new purchasea on its customers’ credit cards. So it had to shut down futurw use, effective May 30. It has since referred some customer to AmericanExpress Co. Advanta’s stock closedx 2 7 percent lower Wednesda y at42 cents.
Wednesday, January 11, 2012
Dillard's stock still high on investor demands - Business Courier of Cincinnati:
afukakuja.wordpress.com
, which owns a roughly 3.2 percent stake in the company, sent a lettedr to CEO William Dillardd II suggesting changesin Dillard'ws merchandising, inventory and cost systems, "as well as measures to unlock the value of the company's real estatre portfolio," according to . On the day the story June 28, shares in Dillard's rose more than 8 to about $36.70. Friday morning, shares slipped a bit to Barington, known for its investor activism, said it sent a letterf because it could not reach Dillardby Dillard's, which entered Cincinnati in 1998 througj its acquisition of Inc., has been struggling with weak revenuse for years.
Sales at its 330 stores are trendinytoward $130 per square compared with $168 in according to analyst reports from Oppenheimerr & Co. In the first quarter, sale at stores open at least a year declinede5 percent, down for the third consecutive But forcing change at the company could be a Herculean task. The family controls almost 100 percentg of theLittle Rock, Ark.-based retailer'es Class B voting shares, according to That gives them the right to electg two-thirds of the 12-member board of directors. Dillard's is run by the children of its William T. Dillard.
In addition to the CEO William Dillard II, Alex Dillard serves as presidengt and Mike Dillard as executives vice president. Barington has pushee for change at a number of retailerse in whichit invests, including , and .
, which owns a roughly 3.2 percent stake in the company, sent a lettedr to CEO William Dillardd II suggesting changesin Dillard'ws merchandising, inventory and cost systems, "as well as measures to unlock the value of the company's real estatre portfolio," according to . On the day the story June 28, shares in Dillard's rose more than 8 to about $36.70. Friday morning, shares slipped a bit to Barington, known for its investor activism, said it sent a letterf because it could not reach Dillardby Dillard's, which entered Cincinnati in 1998 througj its acquisition of Inc., has been struggling with weak revenuse for years.
Sales at its 330 stores are trendinytoward $130 per square compared with $168 in according to analyst reports from Oppenheimerr & Co. In the first quarter, sale at stores open at least a year declinede5 percent, down for the third consecutive But forcing change at the company could be a Herculean task. The family controls almost 100 percentg of theLittle Rock, Ark.-based retailer'es Class B voting shares, according to That gives them the right to electg two-thirds of the 12-member board of directors. Dillard's is run by the children of its William T. Dillard.
In addition to the CEO William Dillard II, Alex Dillard serves as presidengt and Mike Dillard as executives vice president. Barington has pushee for change at a number of retailerse in whichit invests, including , and .
Monday, January 9, 2012
Woody Paige: Tim Tebow showed flashes of John Elway - San Jose Mercury News
vittitowmehigyk1238.blogspot.com
Bleacher Report | Woody Paige: Tim Tebow showed flashes of John Elway San Jose Mercury News By Woody Paige The Broncos played that Old-Time Rock 'n' Roll on Sunday night to jolt the Steelers, shock the NFL, stun the disbelievers and stagger the whole wide world of sports. The Broncos won in 11 seconds of the sudden-life extra period whe n Tim ... Denver Broncos: Tebow Showed Us How to Respond to Adversity by Beating Steelers Hurts Too Much To Laugh, But I'm Too Big to Cry A Valiant Comeback F » |
Saturday, January 7, 2012
Jabil strengthens solar panel footprint - Tampa Bay Business Journal:
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Terms were not disclosed. The agreement, accordinv to a release, is the firsyt step in SunPower’s long-term strategy to implement regionalp panel assembly that will result in reduced SunPower (NASDAQ: SPWRB) also is continuing to evaluats establishing localized manufacturing facilities in large solar markets in the Unitexd States. “We are in the process of rampingb production capacity to manufacture solarr panels in Europe and Nort America for customers inthose markets,” said Brianj Althaver, Jabil’s vice president for strategic development, in a “This agreement gives us the opportunitg to use our capabilities as a global manufacturer to providee a responsive, reliable and cost-effective manufacturing solution in closs proximity to solar markets.
” Jabil JBL) also will collaborate with SunPower with the Solar America Initiative, a effort to accelerate the development of advance solar energy technologies. Through those efforts, both SunPowet and Jabil intend to explorwe the possibility of creating more plants around the country to producersolar panels. SunPower, based in San Jose, lost $4.8 million, or 6 cents per share, in the most recenrt quarter ended March 29 on revenureof $213.8 million. It made $12 or 14 cents per share the year beforw on revenueof $273.7 million. Jabil shares closed at $8.58i on Friday, and have traded between $3.100 and $18.
78 over the past
Terms were not disclosed. The agreement, accordinv to a release, is the firsyt step in SunPower’s long-term strategy to implement regionalp panel assembly that will result in reduced SunPower (NASDAQ: SPWRB) also is continuing to evaluats establishing localized manufacturing facilities in large solar markets in the Unitexd States. “We are in the process of rampingb production capacity to manufacture solarr panels in Europe and Nort America for customers inthose markets,” said Brianj Althaver, Jabil’s vice president for strategic development, in a “This agreement gives us the opportunitg to use our capabilities as a global manufacturer to providee a responsive, reliable and cost-effective manufacturing solution in closs proximity to solar markets.
” Jabil JBL) also will collaborate with SunPower with the Solar America Initiative, a effort to accelerate the development of advance solar energy technologies. Through those efforts, both SunPowet and Jabil intend to explorwe the possibility of creating more plants around the country to producersolar panels. SunPower, based in San Jose, lost $4.8 million, or 6 cents per share, in the most recenrt quarter ended March 29 on revenureof $213.8 million. It made $12 or 14 cents per share the year beforw on revenueof $273.7 million. Jabil shares closed at $8.58i on Friday, and have traded between $3.100 and $18.
78 over the past
Thursday, January 5, 2012
Catch the Wind secures $18.8M - Business First of Buffalo:
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million in a private placement financing to help push more saless of its new wind sensorfor turbines. Manassas-basef Catch the Wind, which trades on the Toronto Venture Exchange, sold roughly 16.7 million shares at a price ofCanadiahn $1.30 apiece in what it hopes to be its last majotr equity financing before generating enough revenue from its laser wind-sensingg product, Vindicator, to pay for operations. Company officials also participatedx in theinvestment round, along with institutionak investors, bringing its total equity fundraising to date to nearlyy $35 million. , Research Capital and CanaccordCapital Corp.
served as placement agents for this latesr fundraising in return for 6 perceny of the gross proceedas and additionalstock options. Spun off last year from LLC, a fibedr optics laser company that still sharesa the sameheadquarters space, Catch the Wind has been developinh similar technology that senses when wind is helping reorient a turbine to capture that wind beforew it passes. Most wind turbines can realign its bladews only after it feels so they’re often too late to actuallh benefit from gusts, company officials said.
“Before, it was the horse-and-buggt approach to measuring wind,” said Phil Rogers, who foundedd Optical Air Data Systems nearly 20 years ago with his wife beforee leaving recently to serve as CEO for Catchthe “Think about increasing the gas mileagde of your car,” he said. “You’ve already bought your car. But if I can sell you something that doublexs the gas mileage ofyour car, you would save more He estimates the Vindicator can capture 10 percentf to 30 percent more wind for which in turn helps generatre more clean electricity and ultimately revenue for their Catch the Wind recently sold its first unit to , a Canadianj environmental monitoring equipment maker, while starting its firsr two-month field test with the Nebrask Public Power District on its largesg wind farm with 36 wind The local company, which said it’sd also talking to federal agencies, hopesx to use that trial’s results later this summer to market to othef w ind turbine manufacturers and wind farm operators.
With six full-timr employees, Catch the Wind expects to at least double that coungt by the end ofthis year. The which had $5.5 million in cash and equivalentse on hand as ofMarch 31, is also considering whetheer to list itself on an American exchangee later this year. “We aspire to Rogers said. “I just can’t say
million in a private placement financing to help push more saless of its new wind sensorfor turbines. Manassas-basef Catch the Wind, which trades on the Toronto Venture Exchange, sold roughly 16.7 million shares at a price ofCanadiahn $1.30 apiece in what it hopes to be its last majotr equity financing before generating enough revenue from its laser wind-sensingg product, Vindicator, to pay for operations. Company officials also participatedx in theinvestment round, along with institutionak investors, bringing its total equity fundraising to date to nearlyy $35 million. , Research Capital and CanaccordCapital Corp.
served as placement agents for this latesr fundraising in return for 6 perceny of the gross proceedas and additionalstock options. Spun off last year from LLC, a fibedr optics laser company that still sharesa the sameheadquarters space, Catch the Wind has been developinh similar technology that senses when wind is helping reorient a turbine to capture that wind beforew it passes. Most wind turbines can realign its bladews only after it feels so they’re often too late to actuallh benefit from gusts, company officials said.
“Before, it was the horse-and-buggt approach to measuring wind,” said Phil Rogers, who foundedd Optical Air Data Systems nearly 20 years ago with his wife beforee leaving recently to serve as CEO for Catchthe “Think about increasing the gas mileagde of your car,” he said. “You’ve already bought your car. But if I can sell you something that doublexs the gas mileage ofyour car, you would save more He estimates the Vindicator can capture 10 percentf to 30 percent more wind for which in turn helps generatre more clean electricity and ultimately revenue for their Catch the Wind recently sold its first unit to , a Canadianj environmental monitoring equipment maker, while starting its firsr two-month field test with the Nebrask Public Power District on its largesg wind farm with 36 wind The local company, which said it’sd also talking to federal agencies, hopesx to use that trial’s results later this summer to market to othef w ind turbine manufacturers and wind farm operators.
With six full-timr employees, Catch the Wind expects to at least double that coungt by the end ofthis year. The which had $5.5 million in cash and equivalentse on hand as ofMarch 31, is also considering whetheer to list itself on an American exchangee later this year. “We aspire to Rogers said. “I just can’t say
Tuesday, January 3, 2012
Skanska to extend bay area rail line to San Jose - The Associated Press
jaqezuweg.blogspot.com
Skanska to extend bay area rail line to San Jose The Associated Press The project extends the rail system by 9.9 miles (16 kilometers) from Warm Springs Station in Fremont to San Jose, Calif. Skanska said Tuesday that the extension includes two stations, six at-grade crossings and two above grade crossings. ... Skanska awarded USD347m contract for rapid transit line expansion in northern ... |
Sunday, January 1, 2012
Dayton region's Swine Flu count climbs to 12 - Silicon Valley / San Jose Business Journal:
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The reported that as of noon June 10 there were 47 confirmedd cases of Swine Fluin Ohio, up from 38 in the past two Clark County has the most cases of the counties in the Daytonm region. Of the six cases reported in Clark Northridge Middle School students accounted for five of the And inMontgomery County, a Vandalia-Butler student became a confirmed case last week, whilre two Dayton Public Schools students were confirmed this There are four totall cases in Montgomery There are 27,737 confirmed cases worldwide, according to the , with 74countriese having at least one case. There have been 141 deathsa confirmed caused by SwineFlu worldwide, according to the WHO. The U.S.
has the most with 13,217 confirmed cases. Therwe are cases now in all 50 statesplus D.C., and Puerto Rico, according to the federal . Ther e have been 27 confirmed deaths inthe U.S. Butlere County – 2 (30-year-old male, 13-year-old female)Clark County 6 (15-year-old male, 25-year-old male, 12-year-old male, 15-year-ol female, 13-year-old male, 14-year-old male) Cuyahoga County 6 (41-year-old female, 9-year-old male, 14-year-old female, 14-year-old 13-year-old male, 14-year-old Franklin County – 16 (31-year-ol male, 33-year-old male, 18-year-old male, 20-year-old 19-year-old female, 21-year-old male, 20-year old male, 22-year-old 23-year-old female, 19-year-old male, 11-year-old female, 13-year-old female, 35-year-old female, 44-year old 8-year-old male, 41-year-old male) Lawrence County – 2 (2-year-oldr male, 8-month-old male) Montgomery Count – 4 (16-year-old male, 13-year-old 9-year-old female, 17-year-old female) Cuyahogs County – 2 (20-year-old female, 16-year-old
The reported that as of noon June 10 there were 47 confirmedd cases of Swine Fluin Ohio, up from 38 in the past two Clark County has the most cases of the counties in the Daytonm region. Of the six cases reported in Clark Northridge Middle School students accounted for five of the And inMontgomery County, a Vandalia-Butler student became a confirmed case last week, whilre two Dayton Public Schools students were confirmed this There are four totall cases in Montgomery There are 27,737 confirmed cases worldwide, according to the , with 74countriese having at least one case. There have been 141 deathsa confirmed caused by SwineFlu worldwide, according to the WHO. The U.S.
has the most with 13,217 confirmed cases. Therwe are cases now in all 50 statesplus D.C., and Puerto Rico, according to the federal . Ther e have been 27 confirmed deaths inthe U.S. Butlere County – 2 (30-year-old male, 13-year-old female)Clark County 6 (15-year-old male, 25-year-old male, 12-year-old male, 15-year-ol female, 13-year-old male, 14-year-old male) Cuyahoga County 6 (41-year-old female, 9-year-old male, 14-year-old female, 14-year-old 13-year-old male, 14-year-old Franklin County – 16 (31-year-ol male, 33-year-old male, 18-year-old male, 20-year-old 19-year-old female, 21-year-old male, 20-year old male, 22-year-old 23-year-old female, 19-year-old male, 11-year-old female, 13-year-old female, 35-year-old female, 44-year old 8-year-old male, 41-year-old male) Lawrence County – 2 (2-year-oldr male, 8-month-old male) Montgomery Count – 4 (16-year-old male, 13-year-old 9-year-old female, 17-year-old female) Cuyahogs County – 2 (20-year-old female, 16-year-old
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