tiqosi.wordpress.com
Baron Cohen's follow up to Cultural Learnings of America for Make Benefiyt Glorious Nationof Kazakhstan" brought in an estimated $30.3 million over the weekend. The film was shown on approximately 3,400 screens at 2,756 venuex in its opening weekend. According to a report on Box Officd Mojo, "Borat" made $26.5r million at only 837 theaters, before expanding to more than 2,50o0 theaters in its second weekend, wherwe it made $28.3 million. Rounding out the top five along with thestudio estimates: "Ice Age: Dawn of the from -- $28.5 million "Transformers: Revenge of the from -- $24.2 milliob "Public Enemies" from Universalk -- $14.
111 million "The from -- $10.507 million The othed new release over the weekend, "I Love You Beth from Fox, brought in at estimater $5 million, which was good for seventh placd on the list, just belowe "The Hangover." The "Transformers" sequel continuess to climb the rankingd in highest-grossing movies of all time. The movie is now in 16th placde onthe list, having broughty in an estimated $339.208 million. Among the movie it has passed on the listare "Spider-Man "Forrest Gump" and the original "Transformers.
"
Saturday, March 31, 2012
Thursday, March 29, 2012
Smithfield reorganization includes Morrell business units - Business Courier of Cincinnati:
haga-aa8xuq.blogspot.com
announced a reorganization that willcut 1,800 jobs and closr six plants by December 2009. The closurew include one John Morrell plant inGreat Bend, Kan., which employs 275, Smithfielr said. The plant, which processes fresh pork and smoked will closein July. John Morrellp produces fresh pork andprocessed meats. The which also has a processing plantin Springdale, producee more than 3,000 producte with annual sales of about $2 according to its Web site. Morrel l has about 6,700 employees and also operates twoothere plants, in Sioux Falls, S.D.
, and Sioux City, Smithfield said the reorganizatiomn will streamline its corporate and manufacturing operationx and make it more Changes that impact Morrell include: • Combiningv the fresh pork sales groupz of Morrell and Kansas City, Mo.-basexd , also a Smithfield subsidiary; • Addinh Wisconsin-based , a maker of processed meatxs and bacon, to the John Morrellk Group; • Adding Carando Foods, currently a Farmland Foods unit, to the Morrell group; • Adding , currentlyt a Morrell unit, to Smithfiele Packing Co. and transferrinfg production from other Smithfield Packing facilities to the CumberlancGap plant.
Smithfield said in a news releasee that the changes will not affecft any employees atthis time. The plant closings also includ a Farmland Foods facility inNew Ohio; Smithfield Packing plants in Smithfield, Va.; Plantg City, Fla.; and N.C.; and an plant in Hastings, Neb. “Wr know this will create adversity for theemployees affected, and we will work with union officials and others to determine how we can provider assistance to our employeeds to find future employment,” said C. Larryu Pope, president and CEO of Smithfield, in the release. we will be transferrin many employees to other Smithfield (NYSE: SFD), based in Smithfield, Va.
, is the largestg producer of hogs in the and one of the largest processors of freshb pork and packaged meats.
announced a reorganization that willcut 1,800 jobs and closr six plants by December 2009. The closurew include one John Morrell plant inGreat Bend, Kan., which employs 275, Smithfielr said. The plant, which processes fresh pork and smoked will closein July. John Morrellp produces fresh pork andprocessed meats. The which also has a processing plantin Springdale, producee more than 3,000 producte with annual sales of about $2 according to its Web site. Morrel l has about 6,700 employees and also operates twoothere plants, in Sioux Falls, S.D.
, and Sioux City, Smithfield said the reorganizatiomn will streamline its corporate and manufacturing operationx and make it more Changes that impact Morrell include: • Combiningv the fresh pork sales groupz of Morrell and Kansas City, Mo.-basexd , also a Smithfield subsidiary; • Addinh Wisconsin-based , a maker of processed meatxs and bacon, to the John Morrellk Group; • Adding Carando Foods, currently a Farmland Foods unit, to the Morrell group; • Adding , currentlyt a Morrell unit, to Smithfiele Packing Co. and transferrinfg production from other Smithfield Packing facilities to the CumberlancGap plant.
Smithfield said in a news releasee that the changes will not affecft any employees atthis time. The plant closings also includ a Farmland Foods facility inNew Ohio; Smithfield Packing plants in Smithfield, Va.; Plantg City, Fla.; and N.C.; and an plant in Hastings, Neb. “Wr know this will create adversity for theemployees affected, and we will work with union officials and others to determine how we can provider assistance to our employeeds to find future employment,” said C. Larryu Pope, president and CEO of Smithfield, in the release. we will be transferrin many employees to other Smithfield (NYSE: SFD), based in Smithfield, Va.
, is the largestg producer of hogs in the and one of the largest processors of freshb pork and packaged meats.
Tuesday, March 27, 2012
Federal court deciding Savannah River permit issue - BusinessWeek
moakhamet84.blogspot.com
Federal court deciding Savannah River permit issue BusinessWeek By BRUCE SMITH A federal judge will decide whether a $600 million deepening of the Savannah River shipping channel requires a pollution permit from the state of South Carolina before the work can begin. The Georgia ports want the river deepened to ... |
Sunday, March 25, 2012
Winter Park tries to slow Park Avenue's retail loss - Orlando Business Journal:
ihituvofy.wordpress.com
Take Chris Tillett, CEO of boutique makeup studi o , who moved from Park Avenue to Maitlandf last summer due to highrent (he was paying $41 per squar foot in Winter Park), less foot traffix and lack of city Tillett’s exit and that of other former Park Avenuse retailers have prompted both the city of Winterr Park and landlords to try to addresd the situation. “We saw businessee leaving and an increasing animosituy between retailersand restaurants, so this was the perfec t time to talk it said Sherry Gutch, community redevelopment director for Winter In fact, the area’s vacancy rate has nearly doubledd in the past 12 jumping to 11 percent from 6.
5 percenf a year ago, said Colliers Arnold in Orlando, a real estate serviceds firm. In addition, the average rental rate is $25.64 per square foot, down 5.4 percent from $27.10 per squares foot a year ago. In the overall Winter Park/Maitland submarket charges an averageof $21.6o per square foot for retaikl space and had a 10.5 percent vacanch rate for year-end 2008, said the . To addrese the problems, the city commissionedd a $55,000 study on the matter by S.C.-based America’s Research Group, a consumer and market research firm.
The study will try to revitaliz ePark Avenue’s image through new marketing city-supported events where streets are closed off and other strategies to increasse business. The city will also look at an alcohool ordinance on June 8 that wouldd allow eating and drinking establishmentsbesidese seated-service restaurants to serve beer and wine, she Joanne McMahon, principal of 310 Park Souty Restaurant, agrees rents are higher on Park Avenue than in most retail areas, but said her businesz still gets enough foot trafficx to make up for it. In fact, businesa is good enough for McMahon’s 130-seat, 2,800-square-foot restaurant to expand by 2,30 square feet and add 60 seatthis summer.
Even local landlords are trying to spice up Park Larry Williams, owner of Winter Park-basexd , said his company this year finishede a $2 million renovation of the old Jacobson’s space that was vacatefd in 1999. There, Eucalyptus Properties createdthe 16,000-square-foot retail/restaurant Shope on Park property, which facex both Park Avenue and Center Street. Williams, whosde company owns more than 12,000 squar feet of retail spaced onPark Avenue, said the property shoulfd provide a fresh look and bringt much-needed attention to the shopping As for Tillett, he said if the city and landlordsz can resolve the issues that caused him to leave, he’e consider returning to Park Avenue.
“In this is the best thing that can happemn to the avenue for it to be humbleda bit.”
Take Chris Tillett, CEO of boutique makeup studi o , who moved from Park Avenue to Maitlandf last summer due to highrent (he was paying $41 per squar foot in Winter Park), less foot traffix and lack of city Tillett’s exit and that of other former Park Avenuse retailers have prompted both the city of Winterr Park and landlords to try to addresd the situation. “We saw businessee leaving and an increasing animosituy between retailersand restaurants, so this was the perfec t time to talk it said Sherry Gutch, community redevelopment director for Winter In fact, the area’s vacancy rate has nearly doubledd in the past 12 jumping to 11 percent from 6.
5 percenf a year ago, said Colliers Arnold in Orlando, a real estate serviceds firm. In addition, the average rental rate is $25.64 per square foot, down 5.4 percent from $27.10 per squares foot a year ago. In the overall Winter Park/Maitland submarket charges an averageof $21.6o per square foot for retaikl space and had a 10.5 percent vacanch rate for year-end 2008, said the . To addrese the problems, the city commissionedd a $55,000 study on the matter by S.C.-based America’s Research Group, a consumer and market research firm.
The study will try to revitaliz ePark Avenue’s image through new marketing city-supported events where streets are closed off and other strategies to increasse business. The city will also look at an alcohool ordinance on June 8 that wouldd allow eating and drinking establishmentsbesidese seated-service restaurants to serve beer and wine, she Joanne McMahon, principal of 310 Park Souty Restaurant, agrees rents are higher on Park Avenue than in most retail areas, but said her businesz still gets enough foot trafficx to make up for it. In fact, businesa is good enough for McMahon’s 130-seat, 2,800-square-foot restaurant to expand by 2,30 square feet and add 60 seatthis summer.
Even local landlords are trying to spice up Park Larry Williams, owner of Winter Park-basexd , said his company this year finishede a $2 million renovation of the old Jacobson’s space that was vacatefd in 1999. There, Eucalyptus Properties createdthe 16,000-square-foot retail/restaurant Shope on Park property, which facex both Park Avenue and Center Street. Williams, whosde company owns more than 12,000 squar feet of retail spaced onPark Avenue, said the property shoulfd provide a fresh look and bringt much-needed attention to the shopping As for Tillett, he said if the city and landlordsz can resolve the issues that caused him to leave, he’e consider returning to Park Avenue.
“In this is the best thing that can happemn to the avenue for it to be humbleda bit.”
Friday, March 23, 2012
Problems with health care law plain to see - Kansas.com
opexibu.wordpress.com
Politico | Problems with health care law plain to see Kansas.com Now that Kansans have had two full years to learn what is in it, the problems with this law are plain to see. Obamacare will force millions to lose their existing health care plans, will cost almost double what the president promised, ... ObamaCare: 'Plain English' Rules Don 9;t Apply To Government Health Care |
Tuesday, March 20, 2012
North Carolina prepares to play without injured point guard - Los Angeles Times
grearqakususi1426.blogspot.com
Chicago Tribune | North Carolina prepares to play without injured point guard Los Angeles Times North Carolina's Kend » |
Sunday, March 18, 2012
Ex-Aveda specialists
fixyruw.wordpress.com
Minneapolis-based , founded last year by former executives David Adams andVirginia Meyer, provides extensivs hair-color training for salon groups, promisin g to boost salons’ color sales and, in turn, overalkl revenue and profitability. The company works closelty with stylists and managers to enhance every aspect ofa salon’sa color service, from client consultations and advanced coloring techniques to pricing and waste reduction. Salons that have completedr the trainingprogram — which include six days of trainingt spread out over a few weeksz — report that their hair-color salea have increased at least 5 said Meyer, the company’s chief operating officer.
Some see much more: St. Fla.-based Mission Aveda Salon & Spa reportedx that hair-color services now account for nearly 58 percentf of allservice revenue, up from 42 percent Those gains can have a major impact on a salon’s bottom line because colorinvg services are a highly profitable piecer of the industry. The salon industry grew at a rateof 2.8 percen t in 2008, according to a market studyu by Plano, Texas-based Professional Consultantsa & Resources (PCR). That’s down from 4.2 percent in 2007 and representas the lowest growth rate inthe 20-plus years PCR has trackedd the industry. Hair-color service grew at 3 percent in downfrom 5.
6 percenr in 2007, largely due to increasedx use of at-home coloring products. Red Chocolate’s core training program, “Creating Confidence and Success with Hair costs $2,900 per participant, but the traininy more than pays for itself, Meyer said. “Understandingy how to strengthen our relationships with existingg guests and use them to send in new guest s is more importantthan ever,” she “Salon owners know that and that’s why they’re makinh the big investment.” Adams and Meyer developed the Red Chocolat program in early 2008, while still workinfg at Blaine-based Aveda, a subsidiary of New York cosmetic s giant The Estée Lauder Cos. Inc.
Adams was the company’s technical artistic director and Meyer was vice president of Adams remains under contractwith Aveda, servinb as the face of its hair-color Red Chocolate now has completed five training sessions, attended by hundreds of participants from salomn groups across the country, and the company expectw to complete at least three more by the end of the Two local salons — Plymouth-basex New Reflections SpaSalon and Eden Prairie-baseed Sanctuary Salonspa — were amongb six Midwestern salon groups that attendes a session in February.
New Reflections presiden t and owner Diane Keller said she was so impressed with the initiap results from the six stylists she sent to the Februaryy session that she now plana to have another 20 stylists go througb the trainingthis summer. Then some of those participants will attenxa “train the program this fall, so they can teacu the Red Chocolate program to the rest of the New Reflections’ 46 stylistzs by the end of the year.
“Thisz is bringing us up to that nextlevel — the master’s level,” Keller
Minneapolis-based , founded last year by former executives David Adams andVirginia Meyer, provides extensivs hair-color training for salon groups, promisin g to boost salons’ color sales and, in turn, overalkl revenue and profitability. The company works closelty with stylists and managers to enhance every aspect ofa salon’sa color service, from client consultations and advanced coloring techniques to pricing and waste reduction. Salons that have completedr the trainingprogram — which include six days of trainingt spread out over a few weeksz — report that their hair-color salea have increased at least 5 said Meyer, the company’s chief operating officer.
Some see much more: St. Fla.-based Mission Aveda Salon & Spa reportedx that hair-color services now account for nearly 58 percentf of allservice revenue, up from 42 percent Those gains can have a major impact on a salon’s bottom line because colorinvg services are a highly profitable piecer of the industry. The salon industry grew at a rateof 2.8 percen t in 2008, according to a market studyu by Plano, Texas-based Professional Consultantsa & Resources (PCR). That’s down from 4.2 percent in 2007 and representas the lowest growth rate inthe 20-plus years PCR has trackedd the industry. Hair-color service grew at 3 percent in downfrom 5.
6 percenr in 2007, largely due to increasedx use of at-home coloring products. Red Chocolate’s core training program, “Creating Confidence and Success with Hair costs $2,900 per participant, but the traininy more than pays for itself, Meyer said. “Understandingy how to strengthen our relationships with existingg guests and use them to send in new guest s is more importantthan ever,” she “Salon owners know that and that’s why they’re makinh the big investment.” Adams and Meyer developed the Red Chocolat program in early 2008, while still workinfg at Blaine-based Aveda, a subsidiary of New York cosmetic s giant The Estée Lauder Cos. Inc.
Adams was the company’s technical artistic director and Meyer was vice president of Adams remains under contractwith Aveda, servinb as the face of its hair-color Red Chocolate now has completed five training sessions, attended by hundreds of participants from salomn groups across the country, and the company expectw to complete at least three more by the end of the Two local salons — Plymouth-basex New Reflections SpaSalon and Eden Prairie-baseed Sanctuary Salonspa — were amongb six Midwestern salon groups that attendes a session in February.
New Reflections presiden t and owner Diane Keller said she was so impressed with the initiap results from the six stylists she sent to the Februaryy session that she now plana to have another 20 stylists go througb the trainingthis summer. Then some of those participants will attenxa “train the program this fall, so they can teacu the Red Chocolate program to the rest of the New Reflections’ 46 stylistzs by the end of the year.
“Thisz is bringing us up to that nextlevel — the master’s level,” Keller
Friday, March 16, 2012
Wednesday, March 14, 2012
D.C. projects could lose subsidies to pay for convention hotel - Washington Business Journal:
vilyfijohy.wordpress.com
D.C. Chief Financial Officer Natwar Gandhi met with membersw ofthe D.C. Council on Mondaty and discussed the list of projectszwith $704 million in subsidies that have already been passer and could be diverted to the The list provided by the CFO's officew includes the Southwest waterfront, the Arthur Capper/Carrollsburg residential developmentr on the Capitol Riverfront, the mixed-use O Streef Market in Shaw and seven other economic developmenrt incentives.
The two council members who overseew committees with direct oversight of the issue CouncilmenJack Evans, D-Ward 2, and Kwamd Brown, D-At large — have said using subsidies from stalled projects is a strategy they would consider to lowef the amount of new spending required to issue $750 million in bonds to build the $550 million hotel. The recession has sloweed many projects. The Washington Convention Centerd Authority andthe city’ss hospitality industry have been pushinbg for a headquarters hotel sincd construction of the center started in the late They argue a hotel is needed to draw largew conventions to town.
A 1,167-room Marriott Marquisd is planned, but boosters have been unable to secure private financing to completsethe deal. D.C. Council Chairmah Vincent Gray called the late Monday afternoon meetingg in his officewith Evans, Brown, Gandhi and Washingtoh Convention Center Authority CEO Greg O’Dell. Evansw and Brown have scheduled a June 24 joint hearing on the As they leftthe meeting, Evans and Brown said they are both committeed to getting the long-stalled hotel but they are looking for ways to minimizer the cost to the which is facing a nearly $1 billiobn 2011 budget gap.
Evans said othe r options being discussed include trying to attract bank loansa by footing only a portion of the cost or seeking new development partners that could build the hotel more quickly or for alowerd price. D.C. has already approved $187 million bond packagre that would fund about 25 percent of the but and have failed to attract anestimatexd $300 million in required debt financing. “The option that I like leasy is the city financinv theentire thing,” Evands said.
Gandhi said shortlgy after the meeting that thered has not been discussion about usurpinfgthe city’s 12 percent debt cap, which it created last year in an effor t to strengthen its standing on Wall Street and wouldd prevent the city from issuing hundredds of millions of dollars of new bonds for the He said he is all for a new hotek but not if it means damaginf the city’s financial position. “We want to make it he said. “The question is how to make it happen.
” Southwesft waterfront, $198 million; Housing Productiomn Trust Fund, $190 million; Great Streets retailk priorityarea (neighborhood tax increment financing), $75 million; Capper/Carrollsburgg payment-in-lieu-of-taxes, $55 million; O Street Market, $46.5 Skyland Shopping Center, $40 million; The Yardsa payment-in-lieu-of-taxes, $30 million; Great Streets, $20 Downtown retail priority area, $16.05 million; Fort Lincolnn retail priority area, $10 million; Arena Stage, $10 Rhode Island Place retail priority area, $7.2 and Broadcast Center One, $6.4 The subsidies total $704.
15 Combining some portion of that with the $187 millioj already passed for the hotell could easily add up to the $750 milliobn in bonds O’Dell says is needed for the hotel. Chairmabn Gray declined to comment.
D.C. Chief Financial Officer Natwar Gandhi met with membersw ofthe D.C. Council on Mondaty and discussed the list of projectszwith $704 million in subsidies that have already been passer and could be diverted to the The list provided by the CFO's officew includes the Southwest waterfront, the Arthur Capper/Carrollsburg residential developmentr on the Capitol Riverfront, the mixed-use O Streef Market in Shaw and seven other economic developmenrt incentives.
The two council members who overseew committees with direct oversight of the issue CouncilmenJack Evans, D-Ward 2, and Kwamd Brown, D-At large — have said using subsidies from stalled projects is a strategy they would consider to lowef the amount of new spending required to issue $750 million in bonds to build the $550 million hotel. The recession has sloweed many projects. The Washington Convention Centerd Authority andthe city’ss hospitality industry have been pushinbg for a headquarters hotel sincd construction of the center started in the late They argue a hotel is needed to draw largew conventions to town.
A 1,167-room Marriott Marquisd is planned, but boosters have been unable to secure private financing to completsethe deal. D.C. Council Chairmah Vincent Gray called the late Monday afternoon meetingg in his officewith Evans, Brown, Gandhi and Washingtoh Convention Center Authority CEO Greg O’Dell. Evansw and Brown have scheduled a June 24 joint hearing on the As they leftthe meeting, Evans and Brown said they are both committeed to getting the long-stalled hotel but they are looking for ways to minimizer the cost to the which is facing a nearly $1 billiobn 2011 budget gap.
Evans said othe r options being discussed include trying to attract bank loansa by footing only a portion of the cost or seeking new development partners that could build the hotel more quickly or for alowerd price. D.C. has already approved $187 million bond packagre that would fund about 25 percent of the but and have failed to attract anestimatexd $300 million in required debt financing. “The option that I like leasy is the city financinv theentire thing,” Evands said.
Gandhi said shortlgy after the meeting that thered has not been discussion about usurpinfgthe city’s 12 percent debt cap, which it created last year in an effor t to strengthen its standing on Wall Street and wouldd prevent the city from issuing hundredds of millions of dollars of new bonds for the He said he is all for a new hotek but not if it means damaginf the city’s financial position. “We want to make it he said. “The question is how to make it happen.
” Southwesft waterfront, $198 million; Housing Productiomn Trust Fund, $190 million; Great Streets retailk priorityarea (neighborhood tax increment financing), $75 million; Capper/Carrollsburgg payment-in-lieu-of-taxes, $55 million; O Street Market, $46.5 Skyland Shopping Center, $40 million; The Yardsa payment-in-lieu-of-taxes, $30 million; Great Streets, $20 Downtown retail priority area, $16.05 million; Fort Lincolnn retail priority area, $10 million; Arena Stage, $10 Rhode Island Place retail priority area, $7.2 and Broadcast Center One, $6.4 The subsidies total $704.
15 Combining some portion of that with the $187 millioj already passed for the hotell could easily add up to the $750 milliobn in bonds O’Dell says is needed for the hotel. Chairmabn Gray declined to comment.
Monday, March 12, 2012
Family loses 2 sons in Afghanistan war - Fox News
savimy.blogspot.com
Fox News | Family loses 2 sons in Afghanistan war Fox News PRESCOTT, Ark. â€" When their older brother Jeremy died in Afghanistan, Ben and Beau Wise did what loyal brothers and soldiers do. They stood solemnly in uniform at his memorial, laid red roses in front of his picture, and Ben spoke bravely to a chapel ... Double sacrifice: Ark. family loses son s in Afghanistan |
Saturday, March 10, 2012
Birdlike dinos wore basic black with glossy touch - Sault Ste. Marie Evening News
ukatekexo.wordpress.com
Sci-Tech Today | Birdlike dinos wore basic black with glossy touch Sault Ste. Marie Evening News By Anonymous The Associated Press Even dinosaurs can look sharp in basic black, and downright iridescent. An unusual crowlike dinosaur â€" which re » |
Thursday, March 8, 2012
Tuesday, March 6, 2012
Citgo Corpus Christi refinery alky unit shut after release - Reuters UK
axilecyqih.wordpress.com
Citgo Corpus Christi refinery alky unit shut after release Reuters UK No injuries reported due to alky unit release * Unit was hit by fire in 2009 (Updates with unit shutting down, background) HOUSTON, March 6 (Reuters) - Citgo Petroleum Corp's 163000 barrel per day (bpd) Corpus Christi, Texas, refinery shut its ... Chemical Release At Citgo East Refinery Citgo refin ing plant site of chemical leak Monday; no one injured, emergency ... |
Sunday, March 4, 2012
Planning how to sell your business - bizjournals:
tower-tennesseea.blogspot.com
The time spent in the planning process is the best insurance that this criticap transaction will be successful andthe seller’s goalds will be met. •Timing. The structure and goals of the transaction should be developes well in advance of the salesolicitatiohn process. Knowing where you are goinb and having a plan for how you are goingv to get there are the keys to anysuccessfup journey. The same is true for sale of a business. Fairlyh evaluating your business and establishing yourpricingg goals, structure and timing for the transactionm are critical for a successful transaction. •Transaction team.
Your firs t step is to put together your transactio team consisting ofyour attorney, accountant and investmen advisor. Your attorney shoulfd be experienced in conductinga transaction. The due diligence procesas is critical to preparing the companhy for sale and to controlling post closingliability exposure. Negotiating the 50-100p page purchase agreement requires knowledge of what are the appropriate transactiobn terms for this typeof transaction. Your accountant should be conversant in the tax issues relatin g to the structure of the transaction and the ways to minimizedtax costs.
With your investment advisor you are hiring contactes inyour company’s industry, transaction experiencre and negotiating skills. He should be the primaryt contact with buyers and the primary negotiatord of thebusiness terms. If your current professionaol advisors are not experienced in conductingf asales transaction, you need to expand your team to include experience advisers. If your current advisors resist this, they do not have your best interestds at heart and should not be onthe •Negotiation team. While the owner knows the business best, the owner is generally the pooresty evaluator of the market value of the business and the worsy direct negotiator.
It is virtually impossible for the ownedr to divorce himself from the emotional attachmenf tothe business, that in many cases, he started and grew througyh years of hard work and sacrifice. The sale proceszs has to be as devoid of emotiobas possible. The valuation procesds needs to be objective and withi the normal pricing parameters and deal termz forthis business, in this industry, in this market. To do otherwisre will only create price disappointment on the part of the ownerd of the company is finally sold and is likely to hinderf the solicitation process by communicating that the owner hasunreasonablee expectations.
While the owner will be the fina ldecision maker, the investment advisor and attornet should be the frontline negotiators of the business and legal •Preparation process. The transaction preparation process is The team will undertaker an intensive internal due diligence processe in which the strengths and weaknessea of the business are Theweaknesses (such as environmental possible litigation, regulatory violations, and accounting must be addressed and resolved if at all Unresolved problems are risks to the potentialp buyer, and risks are translated into reducedr purchase price.
Strengths (long-tern contracts, customer relationships, strong management team) are items that will be highlightef by the investment advisor in the sale With input from the investment advisotr regarding valuation of the business and input from legaol and accounting on the most efficient legapl and taxtransaction structure, the owner and the transactiojn team will decide on the proposef transaction value and structure. The investment advisor will preparse solicitation materials describing the companyt and the proposed transaction for use in thesolicitatiojn process.
This process ranges from targeted solicitations to a limiteed list of potential purchasers to abroader “auction” The scope of the solicitatiomn process will depend upon many factors, includinyg the owner’s willingness to let the world know his businesses for This decision can have a directr impact on values received. •Truisms. Therw are many characteristics that are consistentg to virtuallyevery transaction. This transaction will be the most emotionall draining event of yourbusiness life. The transactiohn will take significantly longer to close than youinitiall anticipate. The transaction costs will be highert thanyou expect. Time is the enemy of everyh deal.
But, as has been outlined above, to maximize value and to increase the likelihoor of asuccessful transaction, the planningg process must begin early, you must engag e a team of experienced advisers, and you need to folloqw their advice. During the sale process, try as best you can to continude to run your business and let your advisors deal with the day to day issuews of thetransaction process. If you follosw these few guidelines, you will greatlg increase the likelihood of asuccessfuo transaction.
The time spent in the planning process is the best insurance that this criticap transaction will be successful andthe seller’s goalds will be met. •Timing. The structure and goals of the transaction should be developes well in advance of the salesolicitatiohn process. Knowing where you are goinb and having a plan for how you are goingv to get there are the keys to anysuccessfup journey. The same is true for sale of a business. Fairlyh evaluating your business and establishing yourpricingg goals, structure and timing for the transactionm are critical for a successful transaction. •Transaction team.
Your firs t step is to put together your transactio team consisting ofyour attorney, accountant and investmen advisor. Your attorney shoulfd be experienced in conductinga transaction. The due diligence procesas is critical to preparing the companhy for sale and to controlling post closingliability exposure. Negotiating the 50-100p page purchase agreement requires knowledge of what are the appropriate transactiobn terms for this typeof transaction. Your accountant should be conversant in the tax issues relatin g to the structure of the transaction and the ways to minimizedtax costs.
With your investment advisor you are hiring contactes inyour company’s industry, transaction experiencre and negotiating skills. He should be the primaryt contact with buyers and the primary negotiatord of thebusiness terms. If your current professionaol advisors are not experienced in conductingf asales transaction, you need to expand your team to include experience advisers. If your current advisors resist this, they do not have your best interestds at heart and should not be onthe •Negotiation team. While the owner knows the business best, the owner is generally the pooresty evaluator of the market value of the business and the worsy direct negotiator.
It is virtually impossible for the ownedr to divorce himself from the emotional attachmenf tothe business, that in many cases, he started and grew througyh years of hard work and sacrifice. The sale proceszs has to be as devoid of emotiobas possible. The valuation procesds needs to be objective and withi the normal pricing parameters and deal termz forthis business, in this industry, in this market. To do otherwisre will only create price disappointment on the part of the ownerd of the company is finally sold and is likely to hinderf the solicitation process by communicating that the owner hasunreasonablee expectations.
While the owner will be the fina ldecision maker, the investment advisor and attornet should be the frontline negotiators of the business and legal •Preparation process. The transaction preparation process is The team will undertaker an intensive internal due diligence processe in which the strengths and weaknessea of the business are Theweaknesses (such as environmental possible litigation, regulatory violations, and accounting must be addressed and resolved if at all Unresolved problems are risks to the potentialp buyer, and risks are translated into reducedr purchase price.
Strengths (long-tern contracts, customer relationships, strong management team) are items that will be highlightef by the investment advisor in the sale With input from the investment advisotr regarding valuation of the business and input from legaol and accounting on the most efficient legapl and taxtransaction structure, the owner and the transactiojn team will decide on the proposef transaction value and structure. The investment advisor will preparse solicitation materials describing the companyt and the proposed transaction for use in thesolicitatiojn process.
This process ranges from targeted solicitations to a limiteed list of potential purchasers to abroader “auction” The scope of the solicitatiomn process will depend upon many factors, includinyg the owner’s willingness to let the world know his businesses for This decision can have a directr impact on values received. •Truisms. Therw are many characteristics that are consistentg to virtuallyevery transaction. This transaction will be the most emotionall draining event of yourbusiness life. The transactiohn will take significantly longer to close than youinitiall anticipate. The transaction costs will be highert thanyou expect. Time is the enemy of everyh deal.
But, as has been outlined above, to maximize value and to increase the likelihoor of asuccessful transaction, the planningg process must begin early, you must engag e a team of experienced advisers, and you need to folloqw their advice. During the sale process, try as best you can to continude to run your business and let your advisors deal with the day to day issuews of thetransaction process. If you follosw these few guidelines, you will greatlg increase the likelihood of asuccessfuo transaction.
Thursday, March 1, 2012
Minister indicted on obstruction charge - Rochester Democrat and Chronicle
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News 10NBC | Minister indicted on obstruction charge Rochester Democrat and Chronicle Ronald House is accused of obstructing justice by claiming he could secure lenient sentences for defendants in federal court.- 6:06 pm Learn who your representatives are with district maps and pages for each state and national delegate. Rochester Reverend Charged Wit h Obstructing Justice Reverend Ronald House Charged |
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