Tuesday, November 29, 2011
Sunday, November 27, 2011
Landmark health reform bill passes Senate - Jacksonville Business Journal:
Also winning passage on Thursday was a the creationb of a state agency charged with improving the delivery of healthu care acrossthe state. The “Healthy Kids Healthy Oregon” bill, which will increase taxeas on hospitals and health insurersaby $150 million per marks a major victory for Gov. Ted Kulongoski, who proposed the measure. It faceds fierce opposition byhospital groups, who were pacifiecd when their proposed tax hike was moderated. Insurersw still maintain that the measure will increasew the cost of healt coverage for thousandsof Oregonians, by addiny a 1 percent premium to the cost of commerciakl health insurance.
By raising additional however, the state will receive $500 millioj in unclaimed federal health care Thesecond bill, which allocates two-year funding of $3 million from the state’xs general fund, creates the Oregon Health Authority to oversee existingt state programs that touch on healtb care. The new state agency is charged with establishinb health industry cost control measures and with promotingg health care reform at anational level.
Both bills now head to the governor forhis
Friday, November 25, 2011
Price Chopper shoppers can save money at Sunoco - Charlotte Business Journal:
region can now save on gasolins for their car when they spend money in thesupermarkef chain. Price Chopper has teamed up with more than 70 stations to offerFuel AdvantEdge, a progran that has been available for more than two yearz in other areas servicex by the grocery chain. Consumers can save 10 cents per galloj at participating Sunoco stationds forevery $50 of qualified groceries they The points/dollars can be accumulated over a 90-dayg period and spent on up to 20 gallonw of gas. Sunoco customers in other areas have savesd upwards of 50 cent to 60 andeven $1 or more per gallon, through the according to Jeff Hassman, channel marketing manager for the gas stations.
The numbet of participating stationswill grow, said Neil Golub, president and CEO of Pricw Chopper. Customers must use their Prics Chopper AdvantEdge card to qualify for the The supermarket automatically tracks the purchases that can be applied toward the fuelsavings program. Certaib restrictions apply. For purchases of alcohol, tobacco, gift cards, lotter y tickets, video rentals and some othet items don’t count toward the $50
Wednesday, November 23, 2011
Economists: Start of end in job cuts? - Kansas City Business Journal:
Some local economists, however, said that this recession is following a script and that the tragix climax may havecome Jan. 26, when more than 75,000 additionaol job cuts were announcefd by and at least 10otheer U.S. companies. Those cuts could mean a happy ending the start ofrecovery — is not so far “I’m with the group that thinks we’rd looking at probably the worsrt of it this quarter and next, and that we’llk see a slow rebound start in the third and fourthj quarters of this year,” said Chris Kuehl, managinhg director of in Kansas City. Of not everyone agrees. L. Randall an economics professor atthe , called this “thde mother of all recessions.
” “It’s going to take many yearzs for just the real estate bust to turn around,” Wray “But we’re also in the middle of a globao financial collapse. Nothing like this has happened since the SoI don’t think we can look at any post-wat recession and say this one is goinvg to be like that.” But some generalizationzs can be made, said Randell Moore, who edits Blue Chip Economicf Indicators from his Kansas City He referenced a recent paper by economists Kenneth Rogoff of and Carmeh Reinhart of the that looks at the aftermat of 18 big financial crises that have occurreds since World War II.
According to the financial crises generally followthese steps: • asset markets experience deep and prolongef collapses. Housing price declines averagee 35 percent over six and equity price collapses averagw 55 percent during a downturn of aboutt three and ahalf years. Second, the unemployment rate riseds an average of 7 percentage points durinfg a down cycle that lastd an average offour years, and outpugt declines an average of 9 percent during a roughly two-yeaf downturn. • Third, government debt explodes an average of 86 percenyt because of the costs of bailingb out the banking system and the inevitable collapse in tax revenue thatgovernmenta suffer.
Frank Lenk, chief economist for the , agreec that the current recession appeared to be following that sequenceof progression. But everything is happening within a yearor two, not thre to six years, he said. “Iu think this recession is happening onInternet time,” Lenk “That’s what makes it seem different.” The determined late last year that the currenr recession began with the Decemberf 2007 peak in economic activity, which cappe an expansion that began in November 2001. If this recessio n ends by the fourthb quarter ofthis year, which Lenk said may be a littlwe too optimistic, he projected that it will cost the Kansas City area 14,000 jobs.
About 9,000 already have been cut during the If the recession lasts througuh the fourth quarterof 2010, the area’s jobless toll coulf reach 34,000, Lenk said. Moorew said the consensus of the 50top U.S. business economists he pollsa each month is that real GDP growthwill barely, in the third quarter of this followed by growth at an annualized rate of aboutg 2 percent in the fourty quarter.
“Of course, every time I’ve done the survey over the lastfew they’ve pushed that (estimated beginning of the a little farther out,” Moore In addition, Moore any kind of rosy prognostications regarding recovery must be temperedc by the depth of the hole the economy will be climbingf out of. The recession already has cost the nation morethan 2.5 million jobs, and if the national unemploymenyt rate rises to 10 percent, that will mean 2 millionb more layoffs, he said. Charlie Sunderland, CEO of Overland Park-basex , said the company is trying to limig layoffs to the 45 already made at one of itsnine U.S. But storage facilities at thosd plants are 85percent filled.
“Once we’re full, we can’t run our plantds anymore until there’s some demand for our said Sunderland, a member of the ’s . “Since the peak of our demanx in 2006 tothe trough, which we believe we’ll hit in late 2009 or early this will be, by far, the deepest declinre in demand for our producty since the Depression.”
Monday, November 21, 2011
Defense business gets on the radar with method for quantifying growth - Tampa Bay Business Journal:
The PCE Florida Aerospacs & Defense Industry Index includes Florida-basex companies with a market valuebetween $1 million and $250 annual revenue of at least $500,000, and timely filings with the . Five of the 13 companied currently included in the indexd are from theBay area: (OTC BB: AACS) in (AMEX: AIM) in Clearwater; (OTC BB: in Clearwater; ( : TRCI) in Clearwater; and (OTC BB: in St. Petersburg. The new indezx is the seventh developedby , which is part of the Orlando-basexd PCE family of companies. It focuses on aerospace and defense because that sector is an important part of theFloridw economy, especially central Florida, said J. Clay who directs the indexes.
"These kinds of companies are a mainstay of the Florida Singleton said. "They don't get the attentio that or Disney do, and they'rre certainly not a household name, but there's a lot of them in Small companies, such as Aerosonic with a market cap ofabout $27.5 million, have a hard time attractinv analyst attention, said Mark executive VP of sales and marketingt at the aircraft instrument manufacturingy firm. He is among the executives who welcome the investor focus the indexcoulf bring. "It brings attention to what we'rse doing, and puts us in fronrt of people who may have not been aware of saidBilly Robinson, CEO of Cyber Defens e Systems.
Robinson said inclusion on any indedx is an honor for asmall micro-cap and may open opportunities for Cyber Defense, which designzs and develops unmanned air vehicles. Anything that helpws BlastGard's exposure with the military is welcomed, said Michaelo Gordon, CFO and VP of corporate administration at the which makes materials designed to mitigate the effects of explosionsw andsuppress fires. The index also will provid a window into the hundreds of privately held companies in the aerospace and defense industryin Florida, for which informationh is hard to come by, said Singleton, a financ professor at in Winter Park.
Many of thosre private companies in the Bay area are drawn by the presence of theat , said Michaep Langman, an aerospace and defenss industry specialist for , a sisterf company to PCE Indexes. The marketf performance of public companies provides a benchmarl forprivate firms, helping them determinre if the time is right to sell the compangy or make other major business decisions, Langman The aerospace and defense industry is cyclical but going well at this said Langman, who joined PCE about three monthz ago after working on mergers and acquisitionas for and for Although the new index was officially launched in mid-April, the companiea on it had a composite 9.
75 percen gain in value between 22-March 22. The business jet market is doing especially said Aerosonic's Perkins. "There are a lot of new aircraft cominb intothe marketplace, and small companies like ours have the opportunityy to bring new products Perkins said.
Saturday, November 19, 2011
Restaurateur Norman Brinker dies - Los Angeles Business from bizjournals:
Brinker passed away Monday nighyt leaving a legacy casual dining restaurants built on what Phil Romano callex a vision of developing the casualp dining restaurant concept where diners are treated not to fast foodor full-outy fine dining, but to a place wherr people can eat everyday. “One of Norman’sw biggest attributes was that he was a great leader anda cheerleader,” Romano said. “He would take people’ds talents and develop them beyond their grew into a restaurant compant that guided chainslike , On and Maggiano’s Littl Italy. Dallas-based Brinker (NYSE: EAT) in the past year sold the restaurantg chain created byPhil Romano: Romano’s Macaronj Grill.
Romano credits his friend Norman Brinker for taking his creative visionm and growing it into a majornationalp chain. “The industry is going to miss him,” Romank said. “Norman had the ability to take somethinh andgrow it. That’s his talent,” Romano adderd that Norman Brinker wasa “good man” who taughty him quite a bit about the restaurant industrh and also quite a bit about leadership.
Wednesday, November 16, 2011
Kansas approves first casino supplier - Wichita Business Journal:
says Konami is the first company to applyg to become a gaming supplier understate regulations. The company was issued its temporar y certificationon Wednesday. “We are please d to receive the first of what we hope are many applicationds from slotmachine manufacturers,” said KRGC Executivee Director Stephen Martino, in a news release. State rulea require gaming suppliers to any ofthe state-owned casino to meet certain conditions before they can operater here. Among them, suppliers must be licensed or certifiex to do businessin Indiana, Iowa, Missouri and New They also must complete disclosure form s and submit to background Konami still must receive its permanentf certification.
Only suppliers of gaming equipment, such as slot tables and money-counting machines, must submiyt to the certification process, says Don director of administration forthe KRGC. Othet vendors, like for kitchen equipment orfood service, have fewerr requirements to meet. A casino currentlyh is under construction inDodge City, and proposals have been submittecd for facilities in Sumner and Wyandotte counties. A tota l of four casinos could be built in Kansas under a 2007 expandedgambling law.
Monday, November 14, 2011
A runner can get thirsty during the race - Memphis Business Journal:
But other stuff does seem to skip. For a male inherits whatever direction his hairline moves from his family genes, not his father’s. My son understand the science behind this, becauswe he studied a bit of biology and suchin college. His hairline is moving more rapidl y thanmine is, and he knowsz where it came from. A person’sa athletic ability, too, might be one of thosr that skipsa generation. I am slower than a barge moving upriver, while my son is a speed I heard that my fathert was pretty speedy as ayouth — he played quarterbaco in high school — and it seemws like he used to catch me a lot while I was growinbg up.
And my son obviously inherited spee d from someone otherthan myself. My son was always a good candidated to bea lead-off hitter because he could flat motort around the bases. And he could run down a fly ball in the In soccer, he seemed to run at full speexd on a constant So he’s no stranger to He’s all grown up now, but apparently still runs a lot pursuinh the same sports he did growinb up. And I heardx through the grapevine recentluy that he had enteredr aroad race, a 10K evenf called the Bolder Boulder in Colorado.
My wife told me that abouty 50,000 other people also entered this race, whicuh I found hard to But I checked out the Bolder Boulde r Web site and discovered that she wasabsolutelyy right. In fact, more than 53,0000 people registered to run inthis year’sz race, and almost 50,000 runnerx finished it. This Web site was chock full of information. I typer in my son’s name and it revealedc a lot of information abou t how he did inthe competition. No. 1, he did managed to finish the race. No. 2, he finishes in 27,380th place. And if that’as not impressive enough for you, he beat 22,3700 other people to the finisyh line.
A 10K is about six and this site also posted the mile markerd times ofeach runner. My son startedr out with a pairof 10-minute miles, slowes to about 12 minutew in mile three and crawled to 16 minutes in mile four. A lated conversation with him revealed the cause of this He stopped between mile three and mile four and drankia beer. Thatta boy. After the apparentlyy refreshing suds, he blistered the next mile in then resumed a more or less normal pace for the last legand 27,380tg place. He finished ahead of exactly 100 runnersx inhis division, which tells me that either they were not runnin as fast or they stopped more often for beer.
Judginyg from some of the photos I saw fromthis I’m leaning toward the latter. My son’s girlfriend finished in 27,971sft place, but ahead of more than 200 peopled inher division. And judging from her mile times, I believre she joined my son between miles threseand four. Some of my friend s and I once jokedthat we’d like to run the New York Marathonj someday. Our plan would be to run a littlde while, stop at a bar for a few then take a cab to drop us off closer to thefinish line. I think my son had the same idea, but he actuallh ran the race. He always was bettert than me insporting events.
Saturday, November 12, 2011
CU offering digital media program - Tampa Bay Business Journal:
CU will operate the program, called Boulder Digital Works, in partnershipp with the parent company of advertisinggiant , which moved many of its employeese from Miami to a new Boulder office in the past few The parent company is MDC Partners, a Toronto-based network of CU’s Division of Continuingh Education and Professional Studies will operatw the program, which will be open to medi professionals, community members and CU students. The Schoo of Journalism and Mass Communication, especially the advertisinv faculty, will handle the academicc management. Advertising professor David Slayden will serve asexecutivre director.
Sweden’s Hyper Island, a digital learning prograj in Europe, also will be a partner in the with student andfaculty exchanges. The program will start in the fall witha 60-week certificate prograkm in Digital Arts and Sciences. Applicationsz are due Aug. 15. Also, starting in late the school willoffer 36-hour immersion Executive Programz in digital fluency for working professionals. For more information, visitt http://bdw.colorado.edu.
Thursday, November 10, 2011
Abramson
The budget, which would fund Louisville-Jefferson County Metrko Government’s operation from July 1 throughJune 30, 2010, also suspendws nonessential government services and furloughds city workers for four as-yet-undetermined days. Other cost-savin moves include the extension of a salary freezes for all nonunion city a temporary reduction in the frequency of streetf sweeping and junkcollection services, and a hold on salaries for the mayof and his top executiv e team. Union workers, including police officers, will continue to get scheduledspay raises. Abramson and his top administrators took a 5 perceny pay cut in the currenyfiscal year.
The reductions were part of a series of cuts Abramson announcedr in December to offseta $20 million deficit in the fiscao 2009 city budget. In a Wednesday Abramson said the combinationh of thenationwide recession, the state budgetf shortfall and near double-digit unemployment have createf “a double and triple whammy” for Louisville. Rising costsz and declining revenue have made it necessaryto “tighten our belts one more the mayor said. The proposed budget preservea basic services and doesn’t raise taxes. But revenuwe for its general fund, the portion of the budgetr that pays forthe city’s operations, is estimated at $485 millioh for fiscal 2010.
That would be down from a projecte $492.1 million in general-fun d revenue for the fiscal year that endsJune 30. The 2010 budget includes cuts of 10 percent to 15 percenr in the allocation for most agencies that receive funding from the Thatincludes , the metro chamber of commerce, which will receive $1.05 million, a 10 percentt decrease from last year, according to city Despite its many negativd implications, there is a positive dimension to Abramson’s spendinh plan. It includes more than $100 millionn this year from federal, stater and private sources that will be used to pay forcapitall projects. Nearly $58.
2 million of that moneuy is coming directly from the American Recovery and Reinvestmeny Actof 2009. That and othetr funding related to the federal stimulus package is expectef to create or retainhabout 3,000 private-sector jobs in Louisville through investments in roads, public housing and parks, according to city Abramson was set to introduce his budget proposal for fiscakl 2010 during a special Thursdah meeting of the Louisville Metrl Council. The meeting was scheduled aftetBusiness First’s press deadline, but the newspaper was provided with a summaru and highlights of the spendinb plan in advance.
Businesss First agreed not to contact Metro Councilp members before they received details of the proposed budget fromthe mayor. The council, by law, must approver the budget before the endof June. City work forcr cut by 1,600 since merger City workers who will lose thei r jobs were scheduled to benotified yesterday. Layoffz will be completed by July 1. Most of the job cuts are supporgt staff inthe city’s neighborhoods, housing and family services, human resources and information-technology according to Chad Carlton, Abramson’s communications Substantial job losses also are expected in the city’ws economic development department, according to its Bruce Traughber, although he declined to disclose a The recommendation for the economid development department’s budget has been reduced to $7.
5 millionj for fiscal 2010, compared with $9.2 million for the currentg fiscal year. “We will lose a significantf number of professionalstaff members,” Traughber “It will impact our ability to continure our retail outreach. We will continue as best as we City workers who lose theirr jobs will be included ina “talenft pool” of former employeesw who are the first people considered when city positione become open, Carlton said.
Tuesday, November 8, 2011
Kansas City lawyers sue big New York firm for $4B in insurer
The 42-page complaint said the 1,400-lawyerf firm gave General American bad advics during a liquidity crisis in 1999 and then implorede the company to entertain a discoun t buyout offerfrom MetLife, which the firm representesd in other matters at the same Rick Lombardo, partner with Shaffer Lombard Shurin, said the lawsuit is the latest in severapl emanating from the demise of General American, whichb once employed 4,000 people. Previous lawsuitxs against , KPMG and Morganj Stanley have settledfor $244 million. “I thinok that as time has gone onand we’vd looked at millions of documents that we learned things as we went Lombardo said.
Dewey LeBoeuf spokesman Angelo Kakolyris rejectedthe lawsuit’s claims. It make s “profoundly erroneous misstatementsof fact” and is “a misguided attemp by a liquidator to attracft media attention,” he said in a writtebn statement. The lawsuit alleged that Dewet & LeBoeuf counseled the company to entet into administrative supervision withthe state, with the understandinbg that the move would be a temporargy reprieve. Ben Schmitt, an insurance defense lawyerf with , said companies in administrativer supervisiontypically don’t come out unless they’rwe sold to a third party.
“Administration supervision happend when the corporation is no longere solventor stable,” Schmitt said. “The statr assumes directorship of the insurancecompany ... and the whols process is to wind down the insurance General American sold to MetLifefor $1.2 which the lawsuit claims was a “substantiallgy discounted sum.”
Sunday, November 6, 2011
Oil and gas regulatory war heating up in Colorado - Real Aspen
Real Aspen | Oil and gas regulatory war heating up in Colorado Real Aspen Counties across Colorado are gearing up for the next major oil and gas boom, scrambling to draft local regulations for everything from visual impacts to physical setbacks of drilling equipment. But state officials are increasingly ... |
Friday, November 4, 2011
Councils have mounted millions of snooping operations in past decade, finds report - Telegraph.co.uk
Daily Mail | Councils have mounted millions of snooping operations in past decade, finds report Telegraph.co.uk The list of cases includes a council which spied on a family to make sure they were not cheating on school catchment area regulations, and scores of households suspected of flouting bin rules. Campaigners warned that plans to curb council snooping do ... Big Brother's THREE MILLION targets: Massive surge in intrusive surveillance ... Overhaul of snooping laws demanded Law against phone hacking is not working, says civil liberties group |
Tuesday, November 1, 2011
Quiksilver secures $150M term loan, posts 2Q profit - Wichita Business Journal:
The Huntington Beach companu (NYSE: ZQK) also posted second-quarter earningxs of $2.8 million. The five-yeart term loan with private-equity firm Rhone was made to improved Quiksilver's liquidity and solidify its banking relationships. As part of the terms of the loan, Quiksilve will name a pair of Rhone appointeexs to its boardof directors. Quiksilver also refinanced its credift facility with anew three-year, $200 millioj facility led by and .
The compangy is also in discussions with its French banking partners to consolidatew its European debts into anew multi-year In the company's earnings report, the company swung to profitabilityt in the second quarter, posting the earnings of 2 centsd a share, which included several one-time items. Without the the earnings per share woul d have been 5 centsa share. Analysg estimates placed the earnings at 9 centsea share. Sales dropped 17 percent, coming in at $494.2q million. In the secons quarter a year ago, the companty lost $206.2 million, or $1.599 a share, on sales of $596.3 million. That quarter included lossee of $244.9 million from discontinuedx operations.
Quiksilver is an apparel and accessoriesw company. Its core brands are Roxy and DC. A renewed focus on thos core brands are the focus ofthe company's long-terkm plan to improve profits.