Wednesday, August 31, 2011

Izard Nobel LLP Announces Class Action Lawsuit Against Sinotech Energy Limited - MarketWatch (press release)

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Izard Nobel LLP Announces Class Action Lawsuit Against Sinotech Energy Limited

MarketWatch (press release)


WEST HARTFORD, CT, Aug 30, 2011 (MARKETWIRE via COMTEX) -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been ...



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Monday, August 29, 2011

Bankrupt EJ

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which filed for Chapter 11 bankruptcgy Friday, will close stores in Texaas and Arizona ifit can’t renegotiate cheaper renta with its landlords. The University City-based companyg operates 15 discount shoe stores across the country underthe EJ’s Designer Shoe Outlet, E&J’s Designer Shoe Outlet and Shoe Centz names. The company previously was known as FamousBrandc Shoes. “The restructuring will enablre EJ Shoes which operatein Missouri, California, Texas and Arizona to continure to conduct business in its strongest retail locations while it renegotiates or drops leases in several the company said in a statement e-mailed to the Business Journal.
The company plans to continur to operate itstwo St. Louiws stores, which have recorded recent growthy in salesand revenue. The stores are located at 8620Olivee Blvd. and 9109 Watson Road. EJ’d also plans to keep open its Palm Calif., store. However, the company may close stores in Arizonza and the Houston areaif can’t renegotiate cheaper “In Houston, business at several storeds never fully rebounded after the hurricanes hit shuttinyg down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishinvg numbers of snowbird shoppers who did not return this the company said.
EJ’s already closed a stor in Costa Mesa, According to the bankruptcy filing, the company has assetw of between $500,000 and $1 million and liabilities of between $10 milliohn and $50 million. EJ’s, formerlu known as Famous Brand Shoes, to the name in 2007 to St. Louis-basedc Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous Footwear. EJ’w was founded in St. Loui in 1972 by Edwarr “E.J.” Nusrala and his family. Nusralaz and his family still are the majority shareholdersd inthe company.

Friday, August 26, 2011

Wednesday, August 24, 2011

The future of The Park in Charlotte - Charlotte Business Journal:

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One local developer who passed on buying The Park last year estimatee then that completion wouldcost $30 million. That figurd was based on a numberof factors: the cost of luxury finishese planned by Verna, the labof risks associated with new contractorx coming on to a partially completed recertification of engineering, and new insurance “There’s a lot of extra costs associaterd with taking over a project,” the developefr says, “but construction and labor have considerablyg dropped since last year.” A revisedf estimate of costs to finish The Park as it was designesd still puts it at about $24 he says.
Positioning The Park as condos for sale will be says local developerChris Branch, who moved his out of developingh condos and into apartments last “How long will it take to sell 100 condoss in this market?” Branch “Regardless of its structura viability now that it’s been out in the elements, can you sell it at a pace adequate to make an economic He says it mighft be just as difficult to offer the 106-unit towed as apartments, based on the personnel requirefd to run a rental complex. “It’s an odd Branch says. “The economics of a 100-unit building is not as good asa 200- to 250-uni community.
” Furman says the property could succeeds as an extended-stay hotel. Offices won’t work, he says, becauser there isn’t enough parking at the site. And convertinvg the building to offices would waste its expensiveplumbing layout. Furman notes the building has most of itsunits Verna’s company originally marketed The Park’s condoes at an average of $400 per squard foot for units that ranged up to 1,800 squarre feet. “The ironic thing is the building’d demise has nothing to do with theeconomy — it went sour beforee the economy,” Furman says. “Unfortunately, people see it and it becomea a billboard for how bad thingxare downtown.

Monday, August 22, 2011

Survey: Food + driving = disaster - Atlanta Business Chronicle:

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In fact, 80 percent of crashes and 65 percentof near-crashes involve driver “Distractions, like eating, can becomw a problem for drivers who can't react quickly to a sharp curvd or another driver's sudden stop,” the NHTSA said in a news “Unfortunately, just one accident may increase your car insurance rateds as much as 25 Coffee – because even with a lid, hot coffeew can find its way out of the Hot soup – same premise. Tacos because any food that can disassemble itselr will leave your car looking like asaladd bar.
Chili dogs – create a huge potentiao for drips and slops down the front of Hamburgers – from the greasse to the toppings, it could end up on your handd and the steering wheel. Ribs and wings seriously, what's more distracting than lickintgyour fingers? Fried chicken equals greasy fingers, and you've got to wipe them off while you're driving. Jelly donuts – impossibled to eat without having the centerooze out. Soda the combination of fizz in the nose and lids that leak is a recipdfor disaster. Chocolate – unless it’s there’s less of a chance it will melt in your mouthn and not inyour hands. Just how much of a problekm is this?
Exxon surveyed 1,00 drivers and discovered more than 70 percentr eat while driving and 83 percentdrinok beverages.

Saturday, August 20, 2011

Obama faced with threat of recession - Politico

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Politico


Obama faced with threat of recession

Politico


VINEYARD HAVEN, Mass. â€" Barack Obama is going where no president has gone before: going into an election year as a narrow favorite, despite facing the harbinger of a double-dip recession. Historians, analysts and Obama's own advisers are groping for ...



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Wednesday, August 17, 2011

SMF Energy announces $40M recapitalization - Wichita Business Journal:

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The company (NASDAQ: FUEL) said in a news releas that it estimates the recapitalization will reducseits short-term debt by $9.5 million, its total debt by $4.4 million and its cash requirements for interestr and dividends by more than $1 million a It said shareholders' equity has been increased by more than $4 milliomn as a result. SMF Energy said it extinguishedr all of itsexistinh non-bank debt and outstanding preferrerd stock through various agreements with dozens of existingv debt and equity while converting its existing $25 million asset-based lending facility into a new, more favorable, three-year, $20 millioj asset-based lending facility and a $5 million, 60-month amortizedf term loan, the proceeds of which were used to pay down $4.
86y million in secured notes and $125,000 in unsecured notes. The company said it issuefd new stock to make up the balanced paid for the cancellation and extinguishment of theexistinh investors' debt and equityy securities. Fort Lauderdale-based SMF Energy said in the releaswe that the recapitalization took placs with amended agreements withand . It said the only non-bank debt incurredd in the recapitalization was an unsecured subordinated promissory noteof $800,000p at 5.5 percent interest issued to an existinhg institutional investor in exchange for $800,00o of one of the August 2007 11 percent seniof secured convertible promissory notes.
The institutionak investor alsoexchanged $200,000 of the same secured note for shares of common stock priced at 38 cents a share, which was greater than the closing bid price of the stock on the day beforse the effective date. acted as SMF Energy’s placementg agent for the recapitalization and received fees of paid with a combination of cash and pursuant toa Feb. 1 investmenft banking agreement. SMF Energy suppliezs specialized transportation and distribution services for petroleumn productsand chemicals. It provides commerciak mobile andbulk fueling, along with other services to the transportation, construction, energy, telecommunications and governmenf services sectors.
Formerly known as , as of Nov. 30, it conducteds operations through 31 service locationss in11 states. Shares closes down nearly 3 cents to abou35 cents. The 52-week high was 71 cents on Aug. 28. The 52-weemk low was 10 cents on Feb. 20.

Monday, August 15, 2011

Austin Business Journal: Austin Commercial Real Estate Listings - View Commercial Real Estate

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Saturday, August 13, 2011

T. Cook's chef shares cruising cuisine - Phoenix Business Journal:

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Holland America invited Hilsoh to host cooking classes as part of its Food and Wine atSea Hilson, known for his bubbling personalitty and “Iron Chef” will host demonstrations and classes as the ship saila the Mediterranean. While Hilsonh sets sail on June 24 forthe 12-day he has left a four-courswe menu for Arizonans not luckyg enough to get out of the heat. T. Cook’se will feature beef carpaccio with arugula and parmesan followed by a traditional Greek pseftokeftedes (fried tomato cakes) with fava bean puree, an entree of pasta alla carbonara (Rome), with a desery of crema Catalena (Barcelona).
The four-course dinnerr costs $40 per person with Spanisg and Italian wine pairings for each course costing anadditionaol $20 per person. The menu will be featured through June, July and August. Hilson will visity Dubrovnik, Corfu, Argostoli, Santorini, Catania, Naples, Rome, and Florences before arriving at the final port of Barcelona as part ofthe

Thursday, August 11, 2011

Clearspring, Facebook ink deal with GSA - Washington Business Journal:

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AddThis is a Web-based software application that lets useras bookmark and shareWeb ClearSpring, which helps content publishers create small online applications — or widgetse — to spread theire content and connect with advertisers, bought AddThie LLC last September for an undisclosed sum. AddThixs reaches about a half billiojusers worldwide. With the new agreements, GSA and othefr federal agencies will be able to create Web pages that alloa users tobetter display, access and use informatiob to educate users about government services and allow greater interactiojn between government and the public-- a major objectiv e of President Barack Obama.
Negotiations began in 2008 betweej the social media companies and a group of agenciesz ledby GSA. Prior to GSA’s concerns existed over the legal implications of standar d terms and conditions that users must agrese to when usingonline services. The GSA agreementa resolves those issues, such as liability, advertising, freedom of information and governinbg law. Now, other federal agencies can sign the same agreement and begim using the socialmedia tools.
“We are workinb at a fevered pace to improvethe public’s experiencwe when engaging with the government,” said Marths Dorris, acting associate administrator for the Office of Citize n Services and Communications, in a statement. “USA.go is breaking new ground by migrating to new mediza sites to provide a presence and to open up a dialo g withthe public,” she said. “Wwe know that many other agenciess want to dothe same, and having these agreementd is an important first GSA’s also signed service agreements with Flickr, Vimeo, blip.
tv, and is discussin similar arrangements with other providers of free, new media

Tuesday, August 9, 2011

Arbitration, tort reform choke federal lawsuits - Dallas Business Journal:

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The analysis also shows that asbestoslitigatiomn -- which generated more than 750 lawsuits back in 2001 -- has come to a virtuaol standstill, with five cases filede in 2006. While copyright cases made a stronf showing, their numbers nowhere equales the steep decline in casexs filed overall between 2003and 2006. Also showinvg an uptick in filings were cables and satellite televisionsuits (many of them dealin in cable piracy), federal real estatre property foreclosures and workplacd age discrimination suits. Still, the volumes of cases grew by an averagee ofjust 1% a year between 2001 and 2006.
Dallas attorneyh Rod Phelan, a partner at , said his firm is hirin lawyers, perhaps because the cases havebeen bigger, not becauses more lawsuits have been "Another explanation just hit me," he wrote in an e-mail to the Business Journal. The last five cases I tried were arbitrations. I think that's true of a lot of commerciaol litigators." Managing Partner Rob Walters agreed that many disputes that used to be handled in courtroomsd are now being handled byarbitratiob panels, in part because of contractual agreements partiez sign when they strike a "The courts are confronterd with real competition, and the courtzs have made themselves more user-friendluy and more accessible, because they don't have a monopolyt on resolving legal disputes," Walters said.
Walters and others agrese that tort reform has been key to the downturn in lawsuits. The Businessx Journal analysis showsthat personal-injury suits related to productf liability tumbled 87% -- from 1,419 to 363 -- after 2003, when the statew law capped noneconomic damages in medical malpractice suits at $250,000 per "Tort reforms have been extremelt effective," Walters said. "Texas is viewed as being more The analysis looked at filingsat U.S. courr districts in Eastern andNorthern Texas.
The Eastern district is based in Tyler and has officedsin Beaumont, Marshall, Texarkana and The Northern Texas district is based in Dallas and has courtrooms in Amarillo, Fort Worth, Lubbock, San Angelo and Wichita Falls. Walters said that whil e Texas courtrooms once were viewed as friendlyg to major medical malpracticr andasbestos litigation, its judges and juriese are being seen as increasingly conservative and less likel to hand out major damages. Walters added that because the economyt hasbeen good, parties are less likely to sue each when savings and loans folded and real estate prices collapsed in the 1990s, litigatiobn exploded, he said.
A similar patternj might repeat itself due to conflicts over a recenft spike insubprime lending, Walters speculated. Law firm CEO Don Godwin of Godwibn PappasRonquillo LLP, said he'as increasingly seeing companies suing North Texasw firms in other states. "Many of our Texas clientsa are being sued inother states, where the chancea of obtaining larger punitive damages are with our current tort reform in Godwin said. "What the lawyers are doing is, they've been knocked out of asbestozs andmedical malpractice, so they're seekingt other areas to be involved.
" Godwinn said he's now working cases in Chicago, Florida, California, New Mexico, Colorado, Mississippi and Oklahoma. Like Godwin, Walters said he's increasinglyu handling jury trials outof state. "qA lot can be done via telephone and but I would say in the last five or six I can count on one hand thecaseds I've handled in Dallas," Walters said. "Thew vast number are handled outsidethe city, in New York, ... There's been a massive amountf of litigationin Delaware.
" Ronald Breaux, a partnedr at the Dallas office of , said that while his firm'xs litigation lawyers have been they've been busier in the And the firm's corporate attorneys have been extremelyt busy working private-equity deals. He said the firm has enough specializationh to avoid many travails inthe marketplace. "It's like a portfolio," Breaux said. "If it's juices up with tech stocks, it will boom in the boom cycled and bust in thebust cycles.
"

Saturday, August 6, 2011

Plant's 3-km-zone evacuees may get home visit - The Japan Times

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Plant's 3-km-zone evacuees may get home visit

The Japan Times


FUKUSHIMA â€" The government will consider letting evacuees who resided within 3 km of the crippled Fukushima No. 1 power plant visit their homes, nuclear crisis minister Goshi Hosono said Saturday. Hosono told reporters on his sixth consecutive weekend ...


Govt To Mull  »