Montgomery Council trims employee disability benefits Gazette.net Montgomery County Sports The Montgomery County Council took a step Tuesday to rein in spending on retirement benefits for employees injured on the job. The vote drew opposition from the county's police union, whose leaders think the collective ... |
Wednesday, June 29, 2011
Montgomery Council trims employee disability benefits - Gazette.net Montgomery County Sports
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Sunday, June 26, 2011
Harpeth Hall teams up to create online girls school - Houston Business Journal:
uqudenlid.blogspot.com
The Online School for Girls will begin offerin coursesthis September, including two this fall and four in the spriny 2010 semester spanning math, science and the humanities. Studentws at the member schools will take the classese and evaluate them as apilog run. One initial calculus class will be taugh by Harpeth Hall math teacheeJennifer Webster. The other schools in the group are the in the in Ohio and in all with tuition ranging fromabout $20,000 to $40,00o0 per year. Ann Teaff, the head of Harpeth says the goal of the online school is to provide a rigorouas education in an onlinee setting thatis flexible, affordable and accessible to girlws around the world.
She says the curriculum will be expanderd incoming years. The effortg reflects how rapidly online educatiobn is being adopted in even the most exclusive enclaves of privater education as schools utilize the Internet to foste r a global worldview in their students and diversify thelearning experience. More than 1 million secondar y school students took an onlines course and students at 70 percent of high schoolsa enrolled in one duringthe 2007-2008 school year, according to “K-12 Online A 2008 Follow-up of the Survey of U.S. Schoolk District Administrators.” The report also finds schools in 44 statesx are creating onlinesecondary schools.
However, the Onlin e School for Girls will be the firstonlinee same-sex school. At the graduate level, Harvard, Duke and other exclusivs universities now offer severalspecializedf master’s degrees for whicyh the coursework can be taken mostly They are aimed at professionals who wish to enhancew their credentials to advance in their Karen Douse, Harpeth Hall’s library and information services director, says onlinew education is rapidly becoming “w cornerstone of the educational experience.
”
The Online School for Girls will begin offerin coursesthis September, including two this fall and four in the spriny 2010 semester spanning math, science and the humanities. Studentws at the member schools will take the classese and evaluate them as apilog run. One initial calculus class will be taugh by Harpeth Hall math teacheeJennifer Webster. The other schools in the group are the in the in Ohio and in all with tuition ranging fromabout $20,000 to $40,00o0 per year. Ann Teaff, the head of Harpeth says the goal of the online school is to provide a rigorouas education in an onlinee setting thatis flexible, affordable and accessible to girlws around the world.
She says the curriculum will be expanderd incoming years. The effortg reflects how rapidly online educatiobn is being adopted in even the most exclusive enclaves of privater education as schools utilize the Internet to foste r a global worldview in their students and diversify thelearning experience. More than 1 million secondar y school students took an onlines course and students at 70 percent of high schoolsa enrolled in one duringthe 2007-2008 school year, according to “K-12 Online A 2008 Follow-up of the Survey of U.S. Schoolk District Administrators.” The report also finds schools in 44 statesx are creating onlinesecondary schools.
However, the Onlin e School for Girls will be the firstonlinee same-sex school. At the graduate level, Harvard, Duke and other exclusivs universities now offer severalspecializedf master’s degrees for whicyh the coursework can be taken mostly They are aimed at professionals who wish to enhancew their credentials to advance in their Karen Douse, Harpeth Hall’s library and information services director, says onlinew education is rapidly becoming “w cornerstone of the educational experience.
”
Friday, June 24, 2011
GE, Rolls-Royce prepare F136 engine for flight testing - Business First of Louisville:
iwibacibem.wordpress.com
The companies said Wednesday that it is beginningh its flight clearancecertification review, a process that will prepare the F136 for flighft testing. It expects that, followin g certification, the engine will be testec on an F-35 Lightninbg aircraft in early 2011. The F136 is intended to be an alternativ e engine forthe F-35 Joint Strike an aircraft that’s expected to serve as a mainstayg for U.S. armed forces and those of numerous allies for Multiple variations ofthe F-35 are beinv developed by .
is building the primary F-35 engine, with which the GE-Rolls-Royce engine would competd for orders, under contract with the In early May, the Pentagon cut funding for the GE-Rollx engine – the fourth time it has done so. In each Congress has restored funding for the GEand Rolls-Royce said their version of the engine will be ready for sale in 2012. Evendale-based GE Aviation is a unit of Co. GE).
The companies said Wednesday that it is beginningh its flight clearancecertification review, a process that will prepare the F136 for flighft testing. It expects that, followin g certification, the engine will be testec on an F-35 Lightninbg aircraft in early 2011. The F136 is intended to be an alternativ e engine forthe F-35 Joint Strike an aircraft that’s expected to serve as a mainstayg for U.S. armed forces and those of numerous allies for Multiple variations ofthe F-35 are beinv developed by .
is building the primary F-35 engine, with which the GE-Rolls-Royce engine would competd for orders, under contract with the In early May, the Pentagon cut funding for the GE-Rollx engine – the fourth time it has done so. In each Congress has restored funding for the GEand Rolls-Royce said their version of the engine will be ready for sale in 2012. Evendale-based GE Aviation is a unit of Co. GE).
Wednesday, June 22, 2011
Cord Camera heads into receivership - Triangle Business Journal:
obovadugibe.blogspot.com
The photo processing and scrapbook retail chain filed papers in Franklin County Common Pleasz Court on Friday to dissolver its business and havea court-appointed receiver resolve outstanding financial liabilitiex for the company. Cord Presiden Steven Cordle could not immediately be reached forcommeny Thursday, but the company argued in its courr filing that dissolution and appointment of a receiverr were its only option to continuee operations.
“Cord believes that the appointment of a is the only recourse to ensure that Cord can continuse to operate in the regulat courseof business, while maintaininb the value of its assets, until such time as thoss assets can be liquidated at their highes and best price as a going concern,” the filing Dissolution is akin to a federal bankruptcy filing that enables restructuring or liquidation, except dissolution is governedx by state law. Cord Camera listes its largest creditor as Colfax Financial although the court filings do not say how much thecompangy owes.
The filing also said otherf creditors have begun collection The filing is the latest in a strintg of bad news for the Columbus retailinstitutiojn – it was started in 1954 that has been financially buffeted during the 18 months-long Troubles surfaced last year, when calledx in Cord Camera’s $8.6 million credir line, which resulted in expense cuts and the closure of four Cord Camera was able to get the bank fundingt restored, but it ran into troublew again last month. Philadelphia-based filed a lawsuit May 8 in U.S. District Court in Columbus alleging Cord Camera had defaulted on three equipmen leases andowed $637,000.
That same month, Cord Camera moved its headquarters to smaller offices and put its forme r home office on Dividend Drive on the sellinh blockfor $2.2 million. After Columbus Business First reportedc onthe company’s troubles last year, Cordle said the familyg company remained dedicated to its business plan and “We’re committed to our growth,” he had “and to keeping what my father started back in ’54r going.
” The consolidation left Cord Camera with 28 store in Ohio and
The photo processing and scrapbook retail chain filed papers in Franklin County Common Pleasz Court on Friday to dissolver its business and havea court-appointed receiver resolve outstanding financial liabilitiex for the company. Cord Presiden Steven Cordle could not immediately be reached forcommeny Thursday, but the company argued in its courr filing that dissolution and appointment of a receiverr were its only option to continuee operations.
“Cord believes that the appointment of a is the only recourse to ensure that Cord can continuse to operate in the regulat courseof business, while maintaininb the value of its assets, until such time as thoss assets can be liquidated at their highes and best price as a going concern,” the filing Dissolution is akin to a federal bankruptcy filing that enables restructuring or liquidation, except dissolution is governedx by state law. Cord Camera listes its largest creditor as Colfax Financial although the court filings do not say how much thecompangy owes.
The filing also said otherf creditors have begun collection The filing is the latest in a strintg of bad news for the Columbus retailinstitutiojn – it was started in 1954 that has been financially buffeted during the 18 months-long Troubles surfaced last year, when calledx in Cord Camera’s $8.6 million credir line, which resulted in expense cuts and the closure of four Cord Camera was able to get the bank fundingt restored, but it ran into troublew again last month. Philadelphia-based filed a lawsuit May 8 in U.S. District Court in Columbus alleging Cord Camera had defaulted on three equipmen leases andowed $637,000.
That same month, Cord Camera moved its headquarters to smaller offices and put its forme r home office on Dividend Drive on the sellinh blockfor $2.2 million. After Columbus Business First reportedc onthe company’s troubles last year, Cordle said the familyg company remained dedicated to its business plan and “We’re committed to our growth,” he had “and to keeping what my father started back in ’54r going.
” The consolidation left Cord Camera with 28 store in Ohio and
Monday, June 20, 2011
Madoff gets 150 years in prison - Puget Sound Business Journal (Seattle):
chauezhelolocu1622.blogspot.com
“I’m not surprised. That’s what he deserved,” said Adelew Fox of Tamarac, who lost thousandss of dollarsto Madoff's scheme. The mastermind behine the biggest Ponzi schemdein U.S. history was sentenced on Monday morning in federalo court in Manhattan to 150 yearebehind bars, the maximum requested by federal prosecutors. Madoff'sx attorney had asked for a far more lenient sentenced of12 years. In sentencing Madoff, U.S. District Judgr Denny Chin called the fraud and said thatthe “breach of trus t was massive.” The judge described his acts as “extraordinarily evil.
” “Nko other white-collar case is comparable in terms of the duration and enormity of the fraudx and the degree of the Chin said. Madoff confessed in March to 11 countsaincluding fraud, money laundering thefy and perjury, among other things. His victims reportedlgy number morethan 1,300 and stretch acrosws the globe. Their losses are estimated at morethan $13 Prior to sentencing, Chin heard from nine of the victims who talked about the devastation Madoff’ds fraud had caused to theif lives and their families.
Many of Madoff’s wealthhy clients lived in South Florida and lost their life savings tohis Fox, 86, said she is still furious that the and the federalp government didn’t expose Madoff’s fraud “The SEC is just as guiltt as Madoff and they failed us. Nobody seems to do anythin g about it,” Fox said. She also took issue with the larged fees being paid to people such asIrving H. the trustee who is handling the liquidationh ofBernard L.
Madoff Investment “The trustee Picard is making hisown They’re paying these guys millions of It would be bettef to pay the investors directly,” Fox Fox, a widow who once workefd as secretary in New said she invested $50,000p in 1987 because she was relatedr to Madoff’s accountant, Jerry Horowitz. She said she was able to get some moneg back from Social Securitypayments she’ d made over the years on “phantom” income from Madoff accounts.
However, she is worried that her disbursements may eventually be targeted in clawback efforts by the trustee in bankruptcy proceedings who has begun sendinfg out letters demanding the returnb of profits derived fromtheir investments. Guy Fronstin a Boca Rato n attorney who hasadvised Fox, said the governmenyt has “been good about refunding taxesx quickly” but there are delays in processin claims to the Securities Investor Protectio Corporation. “Some of the people I know are too busy with thesde other issues to really care that much about whathappeneds today. They believed he would spend the rest of his days in Fronstin said.
Jan Atlas, an attorney with Adornio Yoss, said he believes the coury had little choice but to levy the maximuj sentenceon Madoff. “kI don’t think the victims should have been victimized agaibn by having him be able to leavew prisonone day,” said Atlas, whose firm continuesw to advise clients about tax returns and possibly future claimzs against investment advisors who invested with “I’m wondering if the trusted will be able to locatew more than the billion plus that he’s located, and what is the real Atlas said.
In addition to his prisonn term, Madoff was ordered to forfeitgnearly $170 billion, whicbh represents the proceeds of, and property involved in certai of his crimes, according to a news release from the U.S. Department of Justice. “While today’x sentence is an important milestone, the investigation is Lev L. Dassi, acting U.S. Attorney for the Southern Districtf ofNew York, said in a news “We are focused on tracing, restraining and liquidatinvg assets to maximize recoveries for the victims.
”
“I’m not surprised. That’s what he deserved,” said Adelew Fox of Tamarac, who lost thousandss of dollarsto Madoff's scheme. The mastermind behine the biggest Ponzi schemdein U.S. history was sentenced on Monday morning in federalo court in Manhattan to 150 yearebehind bars, the maximum requested by federal prosecutors. Madoff'sx attorney had asked for a far more lenient sentenced of12 years. In sentencing Madoff, U.S. District Judgr Denny Chin called the fraud and said thatthe “breach of trus t was massive.” The judge described his acts as “extraordinarily evil.
” “Nko other white-collar case is comparable in terms of the duration and enormity of the fraudx and the degree of the Chin said. Madoff confessed in March to 11 countsaincluding fraud, money laundering thefy and perjury, among other things. His victims reportedlgy number morethan 1,300 and stretch acrosws the globe. Their losses are estimated at morethan $13 Prior to sentencing, Chin heard from nine of the victims who talked about the devastation Madoff’ds fraud had caused to theif lives and their families.
Many of Madoff’s wealthhy clients lived in South Florida and lost their life savings tohis Fox, 86, said she is still furious that the and the federalp government didn’t expose Madoff’s fraud “The SEC is just as guiltt as Madoff and they failed us. Nobody seems to do anythin g about it,” Fox said. She also took issue with the larged fees being paid to people such asIrving H. the trustee who is handling the liquidationh ofBernard L.
Madoff Investment “The trustee Picard is making hisown They’re paying these guys millions of It would be bettef to pay the investors directly,” Fox Fox, a widow who once workefd as secretary in New said she invested $50,000p in 1987 because she was relatedr to Madoff’s accountant, Jerry Horowitz. She said she was able to get some moneg back from Social Securitypayments she’ d made over the years on “phantom” income from Madoff accounts.
However, she is worried that her disbursements may eventually be targeted in clawback efforts by the trustee in bankruptcy proceedings who has begun sendinfg out letters demanding the returnb of profits derived fromtheir investments. Guy Fronstin a Boca Rato n attorney who hasadvised Fox, said the governmenyt has “been good about refunding taxesx quickly” but there are delays in processin claims to the Securities Investor Protectio Corporation. “Some of the people I know are too busy with thesde other issues to really care that much about whathappeneds today. They believed he would spend the rest of his days in Fronstin said.
Jan Atlas, an attorney with Adornio Yoss, said he believes the coury had little choice but to levy the maximuj sentenceon Madoff. “kI don’t think the victims should have been victimized agaibn by having him be able to leavew prisonone day,” said Atlas, whose firm continuesw to advise clients about tax returns and possibly future claimzs against investment advisors who invested with “I’m wondering if the trusted will be able to locatew more than the billion plus that he’s located, and what is the real Atlas said.
In addition to his prisonn term, Madoff was ordered to forfeitgnearly $170 billion, whicbh represents the proceeds of, and property involved in certai of his crimes, according to a news release from the U.S. Department of Justice. “While today’x sentence is an important milestone, the investigation is Lev L. Dassi, acting U.S. Attorney for the Southern Districtf ofNew York, said in a news “We are focused on tracing, restraining and liquidatinvg assets to maximize recoveries for the victims.
”
Friday, June 17, 2011
Wednesday, June 15, 2011
Life Expectancy in US Lags Behind Global Rates - MedPage Today
stockdaleiqemico1521.blogspot.com
Life Expectancy in US Lags Behind Global Rates MedPage Today Life expectancy rates also were lower in counties in the western US with large Native American populations. The highest county-level expectancies were in the northern plains and along the Pacific coast, they said. When compared against an average of 10 ... |
Monday, June 13, 2011
Members say medical schemes too expensive - Mail & Guardian Online
zvonkovaleoqim.blogspot.com
Times LIVE | Members say medical schemes too expensive Mail & Guardian Online If you feel your medical scheme is too expensive, you're not alone -- the 2010 OMAC Actuaries & Consultants Healthcare Monitor survey, released today, reveals that three quarters of the 1 002 respondents who were interviewed feel the same way. ... 'Medical aids too expensive' |
Friday, June 10, 2011
O4 Corp. gets $15M to expand - Dayton Business Journal:
vishnevskiipavuh.blogspot.com
O4 Corp. — which stands for Out Of OfficrOperations — develops mobile softwarre applications that consumer products manufacturerws such as and use to instruct sales reps to check inventory levels, products displays and pricing information in retaik stores. The technology also wirelessly transmits data and producy orders backto headquarters. Whils consumer goods manufacturers spend significantlyon in-stored marketing promotions and new product “they really don’t get visibility into what’zs happening at the retail shelf,” said Laurza Witt, general partner at , a Baltimore-baser venture firm that invested the $15 million.
O4’as software empowers manufacturers’ eyes and ears in retail stores theirsales force, Witt said. “It makexs them much more effective and she said. O4’s technology, designed to run on hand-hel d devices, is highly flexible, said Dale consumer goods technology analystat “Thin of it as a 12-way adjustable seat,” Hagemeyed said. “It really contoura to how people dotheir O4’s globe-trotting chief, Desmond has an ambitious growth trajectory for his firm. O4’es subscriber base is projected to explodee fromabout 25,000 today to about 250,000 users in the next threes years, Miller said, from Sydney, Australia.
“Ws are showing a tremendousa ROI (return on investment) to the marke t right now in verydifficult times,” said who lives in Australia and splitsx his time between North Asia and Europe. “We are able to show paybacjk for these systems in months andnot years, and we are givinhg our customers an edge in the marketplace.” O4 expectws to hit its growth targete by adding new customers and selling more services and products to existinhg ones. “It’s not just being an inch deep with the O4 U.S. President Harris Fogel said.
“It’es [about] being a mile wide and a mile ABS Capital was impressedwith O4’se “momentum” and its blue-chiop client roster. “It was clear to us that they must be offerinh something of value for the consumerdproducts industry,” Witt said. ABS, which invests in later-stagw growth companies in the business health-care, media and communications, and software was a major investorin , which raised $112 millionj in an initial public offering in O4 will invest the $15 million — the company’s firstf institutional round — into developing an around-the-clock, global customef support infrastructure, transitioning from a software-licensing to a software-as-a-subscription model and executing a geographic and product The company sees “huge opportunities” in the emerginbg markets of Latin America, Eastern Europes and China, where consumer products companies have armies of mobilew workers that can benefit from O4&! rsquo;s “A consumer products multinationalo might have 10,000 mobile workers in Chinaz alone,” Fogel said.
“We are about The global strategy is critical as O4 keeps pace with itsmultinational customers, who are themselvexs chasing overseas demand. “The customert is going where there are more moutha to feed and more feetto Gartner’s Hagemeyer said. “If P&yG is going into Asia and LatinAmerica ... you want to followq P&G wherever P&G wants to
O4 Corp. — which stands for Out Of OfficrOperations — develops mobile softwarre applications that consumer products manufacturerws such as and use to instruct sales reps to check inventory levels, products displays and pricing information in retaik stores. The technology also wirelessly transmits data and producy orders backto headquarters. Whils consumer goods manufacturers spend significantlyon in-stored marketing promotions and new product “they really don’t get visibility into what’zs happening at the retail shelf,” said Laurza Witt, general partner at , a Baltimore-baser venture firm that invested the $15 million.
O4’as software empowers manufacturers’ eyes and ears in retail stores theirsales force, Witt said. “It makexs them much more effective and she said. O4’s technology, designed to run on hand-hel d devices, is highly flexible, said Dale consumer goods technology analystat “Thin of it as a 12-way adjustable seat,” Hagemeyed said. “It really contoura to how people dotheir O4’s globe-trotting chief, Desmond has an ambitious growth trajectory for his firm. O4’es subscriber base is projected to explodee fromabout 25,000 today to about 250,000 users in the next threes years, Miller said, from Sydney, Australia.
“Ws are showing a tremendousa ROI (return on investment) to the marke t right now in verydifficult times,” said who lives in Australia and splitsx his time between North Asia and Europe. “We are able to show paybacjk for these systems in months andnot years, and we are givinhg our customers an edge in the marketplace.” O4 expectws to hit its growth targete by adding new customers and selling more services and products to existinhg ones. “It’s not just being an inch deep with the O4 U.S. President Harris Fogel said.
“It’es [about] being a mile wide and a mile ABS Capital was impressedwith O4’se “momentum” and its blue-chiop client roster. “It was clear to us that they must be offerinh something of value for the consumerdproducts industry,” Witt said. ABS, which invests in later-stagw growth companies in the business health-care, media and communications, and software was a major investorin , which raised $112 millionj in an initial public offering in O4 will invest the $15 million — the company’s firstf institutional round — into developing an around-the-clock, global customef support infrastructure, transitioning from a software-licensing to a software-as-a-subscription model and executing a geographic and product The company sees “huge opportunities” in the emerginbg markets of Latin America, Eastern Europes and China, where consumer products companies have armies of mobilew workers that can benefit from O4&! rsquo;s “A consumer products multinationalo might have 10,000 mobile workers in Chinaz alone,” Fogel said.
“We are about The global strategy is critical as O4 keeps pace with itsmultinational customers, who are themselvexs chasing overseas demand. “The customert is going where there are more moutha to feed and more feetto Gartner’s Hagemeyer said. “If P&yG is going into Asia and LatinAmerica ... you want to followq P&G wherever P&G wants to
Wednesday, June 8, 2011
Ala Moana Center a 'gold mine' - Pacific Business News (Honolulu):
gorbunovabowiper.blogspot.com
A from U.S. News World Report magazine used data from to identify malls where the retail business remains healthy despiterthe recession. The report used data including occupancy rates and qualityg grades for about 650 of the biggest shopping centers inthe U.S. Ala Moanqa has an estimated occupancy rate of95 percent, with $1,12 5 in sales per squarre foot. The center has annual sale of morethan $1 billion, accordinh to the report, which “This upscale shopping mecca near Waikiki is a gold mine.
” It was noter that while other malls are having a hard time stayingg full, Ala Moana addes a new wing with 30 more Other profitable malls listed in the report are Fashionn Valley Mall in San Forum Shops at Caesars in Las Vegas, Westfieldf Garden State Plaza and The Mall at Short Hills, both in New and the Mall at Millenia in Orlando, Fla. The report showex that the most profitablemalls don’t rely on but instead feature stores with strong branrd identity such as Apple and Abercrombie & The best malls are located in densely populate areas or tourist as Ala Moana is, just blocks away from Waikikui Beach. Ala Moana’s owner, , filed for Chapter 11 bankruptcyin April.
A from U.S. News World Report magazine used data from to identify malls where the retail business remains healthy despiterthe recession. The report used data including occupancy rates and qualityg grades for about 650 of the biggest shopping centers inthe U.S. Ala Moanqa has an estimated occupancy rate of95 percent, with $1,12 5 in sales per squarre foot. The center has annual sale of morethan $1 billion, accordinh to the report, which “This upscale shopping mecca near Waikiki is a gold mine.
” It was noter that while other malls are having a hard time stayingg full, Ala Moana addes a new wing with 30 more Other profitable malls listed in the report are Fashionn Valley Mall in San Forum Shops at Caesars in Las Vegas, Westfieldf Garden State Plaza and The Mall at Short Hills, both in New and the Mall at Millenia in Orlando, Fla. The report showex that the most profitablemalls don’t rely on but instead feature stores with strong branrd identity such as Apple and Abercrombie & The best malls are located in densely populate areas or tourist as Ala Moana is, just blocks away from Waikikui Beach. Ala Moana’s owner, , filed for Chapter 11 bankruptcyin April.
Monday, June 6, 2011
My Morning Jacket and Erykah Badu Continue Mutually Beneficial Relationship - New York Magazine
ogyhejowy.wordpress.com
My Morning Jacket and Erykah Badu Continue Mutually Beneficial Relationship New York Magazine When Vulture spoke with My Morning Jacket front man Jim James about last night's Todd Haynesâ€"directed YouTube concert, he was coy about whether or not the two sterling entities would link up for that "Tyrone" cover the band has been doing â€" at times ... |
Saturday, June 4, 2011
Mitt Romney: Humans contribute to global warming - CBS News
grihanovveimavox.blogspot.com
ABC News | Mitt Romney: Humans contribute to global warming CBS News Former Massachusetts Gov. Mitt Romney announces his candidacy for the Republican presidential nomination June 2, 2011 at Bittersweet Farm in Stratham, New Hampshire. Republican presidential candidate Mitt Romney broke with many in his party on Friday ... Blue Sky For Edina Art Fair (Mitt Romney: humans contribute to global warming) Mitt Romney: Reducing global-warming pollution is 'important' Mitt Romney, GOP presidential hopeful, says global warming is real |
Wednesday, June 1, 2011
Newmark Homes Houston buying local TOUSA assets - The Business Review (Albany):
viningocouqyl1601.blogspot.com
TOUSA plans to complete and sell all home currentlyunder construction. Moody said the new company will beprivateluy held, locally owned and financed. “Our management team has over 70 combined experience,” he said. The new company plands to build 60 homes ranging in pricedfrom $160,000 to more than $600,000 in the first 60 days of operation, which will officially begin June 15. Moody said 55 employees of TOUSA will remain with the new compan y after TOUSA winds down its loca lbusiness operations. TOUSA’s predecessor company was foundee in Houston in 1983 as and completef an initial public offerinbg inMarch 1998. In December 1999, TOUSA Inc.
acquired 80 percentg of Newmark’s stock. TOUSA Inc. also acquired 100 percenrt of then-public in November 2000. On June 25, 2002, Englee merged with Newmark, and the merged company changed its name toTOUSsA Inc. In March, Hollywood, Fla.-based TOUSA (Pinj Sheets: TOUSQ) told the it planned to lay off 156 peopl in the Houston area from its Newmark Homes brands beginning May 22 due to the downturnb in thehousing
TOUSA plans to complete and sell all home currentlyunder construction. Moody said the new company will beprivateluy held, locally owned and financed. “Our management team has over 70 combined experience,” he said. The new company plands to build 60 homes ranging in pricedfrom $160,000 to more than $600,000 in the first 60 days of operation, which will officially begin June 15. Moody said 55 employees of TOUSA will remain with the new compan y after TOUSA winds down its loca lbusiness operations. TOUSA’s predecessor company was foundee in Houston in 1983 as and completef an initial public offerinbg inMarch 1998. In December 1999, TOUSA Inc.
acquired 80 percentg of Newmark’s stock. TOUSA Inc. also acquired 100 percenrt of then-public in November 2000. On June 25, 2002, Englee merged with Newmark, and the merged company changed its name toTOUSsA Inc. In March, Hollywood, Fla.-based TOUSA (Pinj Sheets: TOUSQ) told the it planned to lay off 156 peopl in the Houston area from its Newmark Homes brands beginning May 22 due to the downturnb in thehousing
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