Rajat Gupta, JC Flowers, Muni Bonds, Full Tilt Poker: Compliance BusinessWeek By Ellen Rosen Feb. 1 (Bloomberg) -- US prosecutors filed a new indictment against Rajat Gupta, the former Goldman Sachs Group Inc. director, expanding the time he allegedly engaged in an insider-trading scheme with fund manager Raj Rajaratnam and ... |
Tuesday, January 31, 2012
Rajat Gupta, JC Flowers, Muni Bonds, Full Tilt Poker: Compliance - BusinessWeek
mesiaipuhuni1981.blogspot.com
Sunday, January 29, 2012
House panel eyes Bernanke
stony-coating.blogspot.com
The Associated Press reports. The news comeds less than a week before Bernanke is set to testifyy before the House Committee on Oversight andGovernment Reform. Last week, BofA Chief Executive Kennethg Lewis testified before the same committee that government officials pressured him to acquire the troubledr brokerage late last year in an effort to savethe U.S. The hearing focused on federa officials’ role in BofA’s purchase of Merrill Charlotte-based BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.1q billion. The deal resulted in BofA’ds receiving an additional $20 billion in federal fundse under the Troubled AssetRelief Program.
BofA has received a total of $45 billion in TARP Lewis has been under intense pressure from BofA shareholders for not disclosinv the depthof Merrill’ds financial difficulties before the merger. Merrill lost $15.e billion in the fourth quarter. Lawmakers questioned Lewids on reports that he felt pressured byfederak authorities, including Bernanke and then-Treasury Secretaryt Henry Paulson, to go ahead with the deal as Merrill’e losses mounted. Lewis testifie d that BofA contacted officials atthe U.S.
Treasurh and Federal Reserve in mid-December to inform them that thebank “hafd serious concerns about closing the BofA, he said, was considering declaringy a “material adverse change,” which can allow an acquirer to back out of a proposedr deal. Lewis testified that Paulsom toldhim BofA’s management “wouldf or could” be removed if the bank backed out of the When lawmakers pressed him on the alleged threatas by regulators, Lewis said both parties were concerned aboutf making the best decisions for the healtjh of the U.S. economuy and BofA.
He explainedr that a decision that wouldx harm the economy would also harm BofA because of its massivde sizeand breadth. Lewis testified that he wasn’y intimidated by the threat of losing his job but bythe “seriousneses of the threat” and the ramificatione on the overall economy had an influence on his decision. “Jusft six months later, it is easy to forgett just how close to the brin oursystem came,” he said. “I will never forget.
”
The Associated Press reports. The news comeds less than a week before Bernanke is set to testifyy before the House Committee on Oversight andGovernment Reform. Last week, BofA Chief Executive Kennethg Lewis testified before the same committee that government officials pressured him to acquire the troubledr brokerage late last year in an effort to savethe U.S. The hearing focused on federa officials’ role in BofA’s purchase of Merrill Charlotte-based BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.1q billion. The deal resulted in BofA’ds receiving an additional $20 billion in federal fundse under the Troubled AssetRelief Program.
BofA has received a total of $45 billion in TARP Lewis has been under intense pressure from BofA shareholders for not disclosinv the depthof Merrill’ds financial difficulties before the merger. Merrill lost $15.e billion in the fourth quarter. Lawmakers questioned Lewids on reports that he felt pressured byfederak authorities, including Bernanke and then-Treasury Secretaryt Henry Paulson, to go ahead with the deal as Merrill’e losses mounted. Lewis testifie d that BofA contacted officials atthe U.S.
Treasurh and Federal Reserve in mid-December to inform them that thebank “hafd serious concerns about closing the BofA, he said, was considering declaringy a “material adverse change,” which can allow an acquirer to back out of a proposedr deal. Lewis testified that Paulsom toldhim BofA’s management “wouldf or could” be removed if the bank backed out of the When lawmakers pressed him on the alleged threatas by regulators, Lewis said both parties were concerned aboutf making the best decisions for the healtjh of the U.S. economuy and BofA.
He explainedr that a decision that wouldx harm the economy would also harm BofA because of its massivde sizeand breadth. Lewis testified that he wasn’y intimidated by the threat of losing his job but bythe “seriousneses of the threat” and the ramificatione on the overall economy had an influence on his decision. “Jusft six months later, it is easy to forgett just how close to the brin oursystem came,” he said. “I will never forget.
”
Friday, January 27, 2012
Use summer
1189126qun.blogspot.com
Many of us, in fact, tend to view May as an ending ofsorts … and Augusyt as the beginning of the last half of the year. But what aboutr June and July? Many people pull back during thesummert months. New product launches, marketing training and new projects are put off until Augustor However, I consider the summer monthas to be filled with spectaculart opportunity. Take some time off. But then get back to refreshed and refocusing your energies on every possible summer opportunity to buildcyour brand. Remember, you are your brand and by building your brand all 12 months of the year you can leverage your individualityand uniqueness.
Why is summe a terrific time to reinforce and expand yourpersonal brand? Because most of us tend to be less harriedr and more laid-back in warmer We actually have time to “get Don’t miss out on some of the most productiv months of your year June, July and August. Here’s one professional’s story: John, an ownefr of a large commercial real estate has had years of success in thelocap market. With the current economicd times, John recognized the reality that he neededc to establish his own brand identity that aligned withhis company’s stron g brand. “I have operationalized my personakl brand into my daily work and keep this branding topof mind.
My customers and employees have noticed thinge like a new tag new bio and new way of introducing myself and my he says. The results? John has already increasefd business forthe year, and is winnin g contracts when his competitors are still struggling. “Inb the summer, it seems like peoplw have moretime — or take time to actuallyg get to know you and what you he says. “I’ve already had meetingas with prospective customers that seemed lesshurried and, were more productive.” So, what about you? Are you goingh to use the summer to build momentum and create more success?
Many of us, in fact, tend to view May as an ending ofsorts … and Augusyt as the beginning of the last half of the year. But what aboutr June and July? Many people pull back during thesummert months. New product launches, marketing training and new projects are put off until Augustor However, I consider the summer monthas to be filled with spectaculart opportunity. Take some time off. But then get back to refreshed and refocusing your energies on every possible summer opportunity to buildcyour brand. Remember, you are your brand and by building your brand all 12 months of the year you can leverage your individualityand uniqueness.
Why is summe a terrific time to reinforce and expand yourpersonal brand? Because most of us tend to be less harriedr and more laid-back in warmer We actually have time to “get Don’t miss out on some of the most productiv months of your year June, July and August. Here’s one professional’s story: John, an ownefr of a large commercial real estate has had years of success in thelocap market. With the current economicd times, John recognized the reality that he neededc to establish his own brand identity that aligned withhis company’s stron g brand. “I have operationalized my personakl brand into my daily work and keep this branding topof mind.
My customers and employees have noticed thinge like a new tag new bio and new way of introducing myself and my he says. The results? John has already increasefd business forthe year, and is winnin g contracts when his competitors are still struggling. “Inb the summer, it seems like peoplw have moretime — or take time to actuallyg get to know you and what you he says. “I’ve already had meetingas with prospective customers that seemed lesshurried and, were more productive.” So, what about you? Are you goingh to use the summer to build momentum and create more success?
Wednesday, January 25, 2012
WellDoc Communications takes health info mobile - Baltimore Business Journal:
http://a1-yoga.com/yoga_equipment.html
“I needed something to give me a kick in the make memore regimented,” said His motivation came from an unlikelyu source: his cell phone. Dr. Suzanne Sysko Clough set her sights onusinv patients’ cell phones to improve diabetes controo when she was practicing medicines at the . That led Clough, an and her brother Ryan Sysko, a busines s executive seasonedin direct-to-consumer marketing, to launchg Baltimore-based in 2005. The startu is banking on mobile communications-basex products to take on disease medical lingo for proactively managinh health issues to reduce healtycare costs.
Traditionally, patients with complicatedx diseases like diabetes have been left to their own deviced to manage the complex health regimens that requirecontinuous Typically, support is limited to a few brief doctotr visits a year. With WellDoc’s flagship product, called Diabetes Manager, patients input their blood glucose levels severao times a day into theitcell phones. Then, WellDoc electronically compiles and analyzesxthe data, and provides real-timw feedback to patients — praise for a good readinf or recommendations to get those levels up. It also routinel generates reports and forwards the analysis to each of the healthcare providers.
Although the Diabetes Manager is still in thetesting phase, WellDoc has garnerede significant financial support. The startup has received $14 millio from private investors, led by Stewart Greenebaum, the well-known developer and benefactor. of Maryland is sponsoring two clinical trials of the Patients whoused WellDoc’s Diabete Manager lowered their A1c levels — the measurement of blood glucosde control over a few months’ time by an average of two pointsz in just 90 days, according to a pilot studyu at the . Currently, an estimatec 21 million people inthe U.S. suffer from which in 2007 costthe U.S. $218 billion.
WellDoc’es principals see the “virtual coach” aspectg of their products separating the company fromits competition, whicyh includes companies like T+ Medical, and . Patientzs like the feedback. “If I plugged a glucosew level into my cell phonr that was higherthan average, I’d get a messagre like, ‘Don’t panic.’ It was fun to get little notes of encouragement and confidence on my cell phone,” Frisojn said. In the year he used the Diabete s Manager as part of thepiloyt study, Frison’s A1C levels dropped from 11.6 to 7.5 — experts like to see that number around 6 and he lost about 10 pounds.
Technology like WellDoc’s has won the praise of diabetes educators, who expresz frustration at traditional management While promising, WellDoc’s products aren’t withou shortcomings. The Diabetes Manager’s menu offers only a limited choice ofcommunication options. And contractsw with cell phone carriers need to beworked out. to use the program, patients’ cell phones must be which excludes roughly 20 percent of the cell phonesx currently onthe market.
Technology hurdles haven’y prevented WellDoc from forgingahead — the company is eager to move out of clinicakl studies and begin commercializing its products, said Sysko, who wouldx not disclose WellDoc’s revenue or say if the compan y was profitable. WellDoc is applyingt its technology toother diseases. In September, WellDof partnered with to use a mobilde tool tocontrol asthma.
“I needed something to give me a kick in the make memore regimented,” said His motivation came from an unlikelyu source: his cell phone. Dr. Suzanne Sysko Clough set her sights onusinv patients’ cell phones to improve diabetes controo when she was practicing medicines at the . That led Clough, an and her brother Ryan Sysko, a busines s executive seasonedin direct-to-consumer marketing, to launchg Baltimore-based in 2005. The startu is banking on mobile communications-basex products to take on disease medical lingo for proactively managinh health issues to reduce healtycare costs.
Traditionally, patients with complicatedx diseases like diabetes have been left to their own deviced to manage the complex health regimens that requirecontinuous Typically, support is limited to a few brief doctotr visits a year. With WellDoc’s flagship product, called Diabetes Manager, patients input their blood glucose levels severao times a day into theitcell phones. Then, WellDoc electronically compiles and analyzesxthe data, and provides real-timw feedback to patients — praise for a good readinf or recommendations to get those levels up. It also routinel generates reports and forwards the analysis to each of the healthcare providers.
Although the Diabetes Manager is still in thetesting phase, WellDoc has garnerede significant financial support. The startup has received $14 millio from private investors, led by Stewart Greenebaum, the well-known developer and benefactor. of Maryland is sponsoring two clinical trials of the Patients whoused WellDoc’s Diabete Manager lowered their A1c levels — the measurement of blood glucosde control over a few months’ time by an average of two pointsz in just 90 days, according to a pilot studyu at the . Currently, an estimatec 21 million people inthe U.S. suffer from which in 2007 costthe U.S. $218 billion.
WellDoc’es principals see the “virtual coach” aspectg of their products separating the company fromits competition, whicyh includes companies like T+ Medical, and . Patientzs like the feedback. “If I plugged a glucosew level into my cell phonr that was higherthan average, I’d get a messagre like, ‘Don’t panic.’ It was fun to get little notes of encouragement and confidence on my cell phone,” Frisojn said. In the year he used the Diabete s Manager as part of thepiloyt study, Frison’s A1C levels dropped from 11.6 to 7.5 — experts like to see that number around 6 and he lost about 10 pounds.
Technology like WellDoc’s has won the praise of diabetes educators, who expresz frustration at traditional management While promising, WellDoc’s products aren’t withou shortcomings. The Diabetes Manager’s menu offers only a limited choice ofcommunication options. And contractsw with cell phone carriers need to beworked out. to use the program, patients’ cell phones must be which excludes roughly 20 percent of the cell phonesx currently onthe market.
Technology hurdles haven’y prevented WellDoc from forgingahead — the company is eager to move out of clinicakl studies and begin commercializing its products, said Sysko, who wouldx not disclose WellDoc’s revenue or say if the compan y was profitable. WellDoc is applyingt its technology toother diseases. In September, WellDof partnered with to use a mobilde tool tocontrol asthma.
Monday, January 23, 2012
Landry
hydiuco.blogspot.com
According to a regulatory filing, Tilmanm Fertitta added another 135,3009 shares on May 8, one day after the company’sx annual shareholders meeting, boosting his holdingds to nearly 8.9 million He bought the sharesat $8.80 or $1.2 million. Landry’s shares soared to $10.311 in early trading Wednesday onthe news, a gain of more than $1 from the May 19 closee of $9.25 before settling back quickly to $9.42q by late afternoon. Since Nov. 13, Fertitta has acquired more than 668,00 0 shares, shelling out more than $27 million. Landry’s has 16.1 millio shares outstanding.
Fertitta tried to buy out Landry’s and take the compang private but the deal wilted in January after lenders and were unwilling to disclose information contained in the transaction commitmeng letterto officials. At the time, Landry’s also said it consideres that information tobe confidential. Michael an equity analyst with C.L. King & Associatews speculated Wednesdaythat Fertitta's share purchase might signal his intent to take another look at the "Given that Mr. Fertitta had previouslyu bid $13.
50 to acquire the company and though the deal fell apartin January, this open markeyt purchase suggests that he may stilo want to acquire the company should the credit marketsx thaw," Gallo wrote in a note to investors.
According to a regulatory filing, Tilmanm Fertitta added another 135,3009 shares on May 8, one day after the company’sx annual shareholders meeting, boosting his holdingds to nearly 8.9 million He bought the sharesat $8.80 or $1.2 million. Landry’s shares soared to $10.311 in early trading Wednesday onthe news, a gain of more than $1 from the May 19 closee of $9.25 before settling back quickly to $9.42q by late afternoon. Since Nov. 13, Fertitta has acquired more than 668,00 0 shares, shelling out more than $27 million. Landry’s has 16.1 millio shares outstanding.
Fertitta tried to buy out Landry’s and take the compang private but the deal wilted in January after lenders and were unwilling to disclose information contained in the transaction commitmeng letterto officials. At the time, Landry’s also said it consideres that information tobe confidential. Michael an equity analyst with C.L. King & Associatews speculated Wednesdaythat Fertitta's share purchase might signal his intent to take another look at the "Given that Mr. Fertitta had previouslyu bid $13.
50 to acquire the company and though the deal fell apartin January, this open markeyt purchase suggests that he may stilo want to acquire the company should the credit marketsx thaw," Gallo wrote in a note to investors.
Saturday, January 21, 2012
Tony La Russa drops Twitter lawsuit - San Francisco Business Times:
ycoguqi.wordpress.com
La Russa, one-time manager of the , had said in June that theres was a settlement of the case the first to be filed by a celebrity againstgTwitter — and that Twitter had agreedc to pay his legal fees and make a donatiomn to his , according to the blog publisher in association with Courthouse News Service. Twitter responded with a statementt in whichit said, “Twitter has not settled, nor do we plan to settlwe or pay” and described the suit as “an unnecessary waste of judicial resources bordering on frivolous,” according to the web The web site includes an image of a courtg document showing that La Russa voluntarilgy dropped the case June 26 and stating that each party will bear theird own costs and attorneys’ fees.
“Nk payment was made by Twitter to La Russa in exchangsfor dismissal,” it states, although it does not say whether anything was paid to La Russa’s Animalp Rescue Foundation. La Russa alleged in his complaint that Twitter was liable under trademark law for the unauthorized use of his name in the He also said postings on the page one of which referred to drunk drivinb incidents involving theCardinals — were “derogatory” and to his trademark rights.
The case inspired Twitter to start experimenting with software that verifies whethe r a celebrity pageis
La Russa, one-time manager of the , had said in June that theres was a settlement of the case the first to be filed by a celebrity againstgTwitter — and that Twitter had agreedc to pay his legal fees and make a donatiomn to his , according to the blog publisher in association with Courthouse News Service. Twitter responded with a statementt in whichit said, “Twitter has not settled, nor do we plan to settlwe or pay” and described the suit as “an unnecessary waste of judicial resources bordering on frivolous,” according to the web The web site includes an image of a courtg document showing that La Russa voluntarilgy dropped the case June 26 and stating that each party will bear theird own costs and attorneys’ fees.
“Nk payment was made by Twitter to La Russa in exchangsfor dismissal,” it states, although it does not say whether anything was paid to La Russa’s Animalp Rescue Foundation. La Russa alleged in his complaint that Twitter was liable under trademark law for the unauthorized use of his name in the He also said postings on the page one of which referred to drunk drivinb incidents involving theCardinals — were “derogatory” and to his trademark rights.
The case inspired Twitter to start experimenting with software that verifies whethe r a celebrity pageis
Wednesday, January 18, 2012
Grubb Properties plans retirement community at Morrison - Charlotte Business Journal:
xotavaloso.blogspot.com
is seeking city approval for a site-plan changs that would let him use nearly 8 acres at Morrisom and convert as many as 195 planned condominiumsinto continuing-care retirement units. Under the proposal, Grubb also would have the flexibilitty to expand a previouslyapproved 10,000-square-foot fitness center to 30,00o square feet for possible health or medical use related to the retiremenr center. Grubb says his firm has not finalizedeits plans. But it is working to lure a high-endc continuing-care retirement community to the site. Grubb Properties is developing Morrison at Sharon and Colony The targeted property is on Sharohn Road between Morrocroft Lane and SharonTownshipp Lane.
The tract is partially occupied by the ParkSouthj Apartments, which would be razed for construction. “Therr is no condominium marketright now,” he says of the changed in plans. The location and the amenities in Morrison shouldf prove attractive toa continuing-care retirement he says. The new plan woulds allow Grubb to developtwo independent-livingy units or three assisted-livingg units for each of the 195 cond units previously approved for the site. It also would alloq up to 20,000 square feet of ground-floor retaiol or office development. Grubb had considered usintg the site for a hotel as well but has droppedc that option fromhis proposal.
Morrisoh is a mixed-used development a blocki fromSouthPark mall. It featuress a mix of lofts, condos and townhomes surroundedby 130,000 squar e feet of retail, including Earth Fare and Barne s & Noble stores. According to research firm Marcuz & Millichap, the decline in the U.S. housinbg market has caused developersz to shift their focus from traditionaoresidential developments. In a recent report, the firm’s analysts said buildera “are capitalizing on the aging babyboomed population, a large portion of which have significanrt retirement funds, by focusing on continuing-carr retirement communities that offer upgrade amenities, including clubhouses and senior-focused events.
” Such communitiew typically offer independent-living, assisted-living and nursing home Residents sign a long-term contrac t and can move from one housingt choice to another as they age whilre continuing to live in the same community. The communities are often buil t onlarge campuses. Frank Warren, president of real estate consultinfirm , says an 8-acre site might be a littl tight for a continuing-car e retirement community.
But he notes therre are few of those communitiesin “As the in-town population continues to age, there are limited options for them,” Warren And Morrison “does provide that walkable sensw of community that most of the otherr options don’t have.” There are seven licenser continuing-care retirement communities in Charlotte, according to the N.C. Departmentg of Insurance: Aldersgate, Carmel Carriage Club of Charlotte, Sharon Towers, Sharonn Village Apartments, Southminster and The Cypress of Southminster and Plantation Estates in Matthewd have been accredited by the Commission on Accreditatiob ofRehabilitation Facilities, the only accrediting body for continuing-carre retirement communities A public hearing on the Morrison rezoningv proposal had been scheduled for this but Grubb asked that it be deferred until next month.
is seeking city approval for a site-plan changs that would let him use nearly 8 acres at Morrisom and convert as many as 195 planned condominiumsinto continuing-care retirement units. Under the proposal, Grubb also would have the flexibilitty to expand a previouslyapproved 10,000-square-foot fitness center to 30,00o square feet for possible health or medical use related to the retiremenr center. Grubb says his firm has not finalizedeits plans. But it is working to lure a high-endc continuing-care retirement community to the site. Grubb Properties is developing Morrison at Sharon and Colony The targeted property is on Sharohn Road between Morrocroft Lane and SharonTownshipp Lane.
The tract is partially occupied by the ParkSouthj Apartments, which would be razed for construction. “Therr is no condominium marketright now,” he says of the changed in plans. The location and the amenities in Morrison shouldf prove attractive toa continuing-care retirement he says. The new plan woulds allow Grubb to developtwo independent-livingy units or three assisted-livingg units for each of the 195 cond units previously approved for the site. It also would alloq up to 20,000 square feet of ground-floor retaiol or office development. Grubb had considered usintg the site for a hotel as well but has droppedc that option fromhis proposal.
Morrisoh is a mixed-used development a blocki fromSouthPark mall. It featuress a mix of lofts, condos and townhomes surroundedby 130,000 squar e feet of retail, including Earth Fare and Barne s & Noble stores. According to research firm Marcuz & Millichap, the decline in the U.S. housinbg market has caused developersz to shift their focus from traditionaoresidential developments. In a recent report, the firm’s analysts said buildera “are capitalizing on the aging babyboomed population, a large portion of which have significanrt retirement funds, by focusing on continuing-carr retirement communities that offer upgrade amenities, including clubhouses and senior-focused events.
” Such communitiew typically offer independent-living, assisted-living and nursing home Residents sign a long-term contrac t and can move from one housingt choice to another as they age whilre continuing to live in the same community. The communities are often buil t onlarge campuses. Frank Warren, president of real estate consultinfirm , says an 8-acre site might be a littl tight for a continuing-car e retirement community.
But he notes therre are few of those communitiesin “As the in-town population continues to age, there are limited options for them,” Warren And Morrison “does provide that walkable sensw of community that most of the otherr options don’t have.” There are seven licenser continuing-care retirement communities in Charlotte, according to the N.C. Departmentg of Insurance: Aldersgate, Carmel Carriage Club of Charlotte, Sharon Towers, Sharonn Village Apartments, Southminster and The Cypress of Southminster and Plantation Estates in Matthewd have been accredited by the Commission on Accreditatiob ofRehabilitation Facilities, the only accrediting body for continuing-carre retirement communities A public hearing on the Morrison rezoningv proposal had been scheduled for this but Grubb asked that it be deferred until next month.
Monday, January 16, 2012
Martin Luther King, Jr. and the decline in what younger generations know about him - Christian Science Monitor
hegenefipa.blogspot.com
Christian Science Monitor | Martin Luther King, Jr. and the decline in what younger generations know about him Christian Science Monitor The older generation is excited about honoring the man they say made desegregated schools and restaurants possible by demanding civil rights. Children may know Martin Luther King, Jr. was an important religious and political figure, ... Younger generations know few details about Martin Luther King, Jr.'s ... New Generation's Mural Embraces Diversity OPINION: Living the Dream: Generation to Generation |
Saturday, January 14, 2012
Worthington shedding stake in metal framing venture - Business First of Columbus:
ramoledef.blogspot.com
The Columbus-based steel processor on Friday said its Dietrich Metalp Framing unit has agreed to sell its sharw into Chesterfield, Mo.-baserd . for $25 million. a subsidiary of billionaire investorWarren Buffet’d (NYSE:BRK), formed Aegis with Dietrich in 2002. The venture was aimed at makingh it easier for contractors touse pre-fabricated metal roof, floodr and wall framing systems in commercial, industriap and residential buildings. Worthington said some production linesfrom Dietrich’s S.C., and Hammond, Ind., plants are includefd in the sale and will be shifted to MiTei facilities by July.
Worthington spokeswoman Sonya Higginbotham said inan e-mail that 16 workers at the Rock Hill plant will lose theier jobs as a result. The move comes as Worthingtonb is making hundreds of job cuts and closing or idlingg some plants to cope with sharp dropsw in prices and demandfor steel. The company in the secons quarterended Nov. 30 swungg to a $159.5 million driven by severance costs andtwo write-downs totaling nearly $200 million. One of the nearly $100 millionm write-downs was on the non-cash, or goodwill, valure of the Pittsburgh-based Dietricg unit, which has taken major hits from recent industry conditions.
Worthington more than a year ago unveiled planxs to close four metal framing plantz and in October announced an additional Earlierthis month, the company announceds plans to shut a Lunenburg, Dietrich plant and idle its Miami and Phoenix Worthington Industries, one of Centralk Ohio’s 10 largest publicly held earned $107.1 million on $3.07 billion in revenue in its fiscaol year ended May 31.
The Columbus-based steel processor on Friday said its Dietrich Metalp Framing unit has agreed to sell its sharw into Chesterfield, Mo.-baserd . for $25 million. a subsidiary of billionaire investorWarren Buffet’d (NYSE:BRK), formed Aegis with Dietrich in 2002. The venture was aimed at makingh it easier for contractors touse pre-fabricated metal roof, floodr and wall framing systems in commercial, industriap and residential buildings. Worthington said some production linesfrom Dietrich’s S.C., and Hammond, Ind., plants are includefd in the sale and will be shifted to MiTei facilities by July.
Worthington spokeswoman Sonya Higginbotham said inan e-mail that 16 workers at the Rock Hill plant will lose theier jobs as a result. The move comes as Worthingtonb is making hundreds of job cuts and closing or idlingg some plants to cope with sharp dropsw in prices and demandfor steel. The company in the secons quarterended Nov. 30 swungg to a $159.5 million driven by severance costs andtwo write-downs totaling nearly $200 million. One of the nearly $100 millionm write-downs was on the non-cash, or goodwill, valure of the Pittsburgh-based Dietricg unit, which has taken major hits from recent industry conditions.
Worthington more than a year ago unveiled planxs to close four metal framing plantz and in October announced an additional Earlierthis month, the company announceds plans to shut a Lunenburg, Dietrich plant and idle its Miami and Phoenix Worthington Industries, one of Centralk Ohio’s 10 largest publicly held earned $107.1 million on $3.07 billion in revenue in its fiscaol year ended May 31.
Thursday, January 12, 2012
MBA: Florida among states leading foreclosure activity - Orlando Business Journal:
jaqezuweg.blogspot.com
Four states – Florida, Arizona, California and Nevadaq – drove up the national numbers, accounting for about 46 percent of the foreclosuree starts in the and representing 56 percent of the increase in foreclosure according tothe MBA. Floridaq was among the three stated with the highest overalkl delinquency rate across all types of at 10.67 percent. Only Nevada (11.75 and Mississippi (11.7 percent) were The delinquency rate includes loans that are at least one paymentpast due, but does not include loans in the processs of foreclosure. Based on foreclosurre inventory, the states with the highest ratexs wereFlorida (10.56 Nevada (7.83 percent) and Arizona (5.
56 And, Florida also was amongv the three states with the highest rate of foreclosured starts, at 2.79 percent. Nevada’xs rate was 3.35 perceng and Arizona’s was 2.52 percent. The numbers are higher and are only expectedfto grow, said Jay Brinkmann, chiefc economist for the MBA. “The rate of foreclosurd starts remained essentially flat for the last three quartersof 2008, and we suspected that the numberzs were artificially low due to variouxs state and local moratoria, the and halt on and various company-level moratoria," Brinkmann However, he said, now that the guidelines for the Obam administration’s loan modifications are known, alonbg with an increase in the number of vacant homes with past due “the pace of foreclosures has stepped up There’s also been a shift away from subprimer and adjustable rate mortgages to primde fixed-rate loans falling into default.
The foreclosure rate on prime fixed-rate loands has doubled in thelast and, for the first time since the rapixd growth of subprime lending, prime fixed-ratse loans now represent the largest share of new “More than anything else, this points to the impac t of the recession and drops in employment on mortgage defaults,” Brinkmann said. Looking ahead, he said it doesn’ appear that the number of mortgage defaults will start to drop off until the employmenrt situationgets better, and that isn’r expected until mid-2010.
Four states – Florida, Arizona, California and Nevadaq – drove up the national numbers, accounting for about 46 percent of the foreclosuree starts in the and representing 56 percent of the increase in foreclosure according tothe MBA. Floridaq was among the three stated with the highest overalkl delinquency rate across all types of at 10.67 percent. Only Nevada (11.75 and Mississippi (11.7 percent) were The delinquency rate includes loans that are at least one paymentpast due, but does not include loans in the processs of foreclosure. Based on foreclosurre inventory, the states with the highest ratexs wereFlorida (10.56 Nevada (7.83 percent) and Arizona (5.
56 And, Florida also was amongv the three states with the highest rate of foreclosured starts, at 2.79 percent. Nevada’xs rate was 3.35 perceng and Arizona’s was 2.52 percent. The numbers are higher and are only expectedfto grow, said Jay Brinkmann, chiefc economist for the MBA. “The rate of foreclosurd starts remained essentially flat for the last three quartersof 2008, and we suspected that the numberzs were artificially low due to variouxs state and local moratoria, the and halt on and various company-level moratoria," Brinkmann However, he said, now that the guidelines for the Obam administration’s loan modifications are known, alonbg with an increase in the number of vacant homes with past due “the pace of foreclosures has stepped up There’s also been a shift away from subprimer and adjustable rate mortgages to primde fixed-rate loans falling into default.
The foreclosure rate on prime fixed-rate loands has doubled in thelast and, for the first time since the rapixd growth of subprime lending, prime fixed-ratse loans now represent the largest share of new “More than anything else, this points to the impac t of the recession and drops in employment on mortgage defaults,” Brinkmann said. Looking ahead, he said it doesn’ appear that the number of mortgage defaults will start to drop off until the employmenrt situationgets better, and that isn’r expected until mid-2010.
Tuesday, January 10, 2012
Paternos donate $100000 to Penn State - msnbc.com
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msnbc.com | Paternos donate $100000 to Penn State msnbc.com By msnbc.com staff and The Associated Press Penn State's legendary footb » |
Sunday, January 8, 2012
Restaurateur Norman Brinker dies - Business First of Columbus:
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Brinker passed away Monday night leaving a legac y casual dining restaurants built on what Phil Romanp called a vision of developing the casuapl dining restaurant concept wherd diners are treated not to fast foodor full-our fine dining, but to a place wherse people can eat everyday. “One of Norman’ss biggest attributes was that he was a great leaderf anda cheerleader,” Romano said. “He would take people’s talents and developl them beyondtheir abilities.” grew into a restaurant compangy that guided chains like , On and Maggiano’sa Little Italy.
Dallas-based Brinker (NYSE: EAT) in the past year sold the restaurant chain created byPhil Romano: Romano’s Macaroni Romano credits his friendd Norman Brinker for taking his creativee vision and growing it into a majo national chain. “The industry is going to miss him,” Romanol said. “Norman had the ability to take somethingf andgrow it. That’s his talent,” Romanl added that Norman Brinker wasa “good man” who taught him quite a bit about the restaurant industrt and also quite a bit about
Brinker passed away Monday night leaving a legac y casual dining restaurants built on what Phil Romanp called a vision of developing the casuapl dining restaurant concept wherd diners are treated not to fast foodor full-our fine dining, but to a place wherse people can eat everyday. “One of Norman’ss biggest attributes was that he was a great leaderf anda cheerleader,” Romano said. “He would take people’s talents and developl them beyondtheir abilities.” grew into a restaurant compangy that guided chains like , On and Maggiano’sa Little Italy.
Dallas-based Brinker (NYSE: EAT) in the past year sold the restaurant chain created byPhil Romano: Romano’s Macaroni Romano credits his friendd Norman Brinker for taking his creativee vision and growing it into a majo national chain. “The industry is going to miss him,” Romanol said. “Norman had the ability to take somethingf andgrow it. That’s his talent,” Romanl added that Norman Brinker wasa “good man” who taught him quite a bit about the restaurant industrt and also quite a bit about
Thursday, January 5, 2012
Missouri approves KCP&L rate increase - Denver Business Journal:
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million that KCP&L had sought. PSC spokesmabn Gregg Ochoa said that the PSC stafd estimated the increase will raise a typicalresidentialp customer’s bill about $12.82 a A typical customer is consideredc to be one that uses 700 kilowatrt hours of electricity a month in wintetr and 1,200 kWh a month in the summer, Ochoa said. “Our customers depend on us to providde affordable andreliable power,” KCP&L CEO Mike Chessetr said in a written statement respondinfg to the PSC approval. “This rate increase will help us pay for environmentalk investments we have already made to severall ofour coal-fired power plants.
The installation of such pollution-control equipment will improvd air quality for our regio n and allow us to meet future federa lenvironmental mandates. We recognize that this is a challenging time to ask customers to pay morefor electricity, and we didn’g make this decision Kansas City-based (NYSE: GXP), KCP&L’s that KCP&L had reached an agreement in principle with the PSC to settlre its pending Missouri rate case. Great Plains Energg ranks No.
5 on the Kansas City BusinesasJournal ’s list of area public
million that KCP&L had sought. PSC spokesmabn Gregg Ochoa said that the PSC stafd estimated the increase will raise a typicalresidentialp customer’s bill about $12.82 a A typical customer is consideredc to be one that uses 700 kilowatrt hours of electricity a month in wintetr and 1,200 kWh a month in the summer, Ochoa said. “Our customers depend on us to providde affordable andreliable power,” KCP&L CEO Mike Chessetr said in a written statement respondinfg to the PSC approval. “This rate increase will help us pay for environmentalk investments we have already made to severall ofour coal-fired power plants.
The installation of such pollution-control equipment will improvd air quality for our regio n and allow us to meet future federa lenvironmental mandates. We recognize that this is a challenging time to ask customers to pay morefor electricity, and we didn’g make this decision Kansas City-based (NYSE: GXP), KCP&L’s that KCP&L had reached an agreement in principle with the PSC to settlre its pending Missouri rate case. Great Plains Energg ranks No.
5 on the Kansas City BusinesasJournal ’s list of area public
Tuesday, January 3, 2012
2012 story lines: Start with Tiger, end with Ryder Cup - USA TODAY
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USA TODAY | 2012 story lines: Start with Tiger, end with Ryder Cup USA TODAY USA TODAY is now using Facebook Comments on our stories and blog posts to provide an enhanced user experience. To post a comment, log into Facebook and then "Add" your comment. To report spam or abuse, click the "X" in the upper right corner of the ...
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Sunday, January 1, 2012
Realtors to launch foreclosure courses - The Business Review (Albany):
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The group gave the $3,20o to host a foreclosure and shortsales course. And the was given $8,050 to develop a course and DVD for consumersa and agents on the legal riskse associated with foreclosures and short also wasawarded $6,000 to host a Realtotr training course on helping consumers who are behin on their mortgages. The national association gave out morethan $3 milliobn to different city associations to help resolve the growinfg foreclosure problem.
“Realtors builds communities, and as the leading advocatd for homeownership andhousing issues, we believe that any famil y that loses its home to foreclosure is one familgy too many,” NAR President Charles a broker with in Dallas-Fort Worth. “Foreclosures affect each community differently, which is why NAR is providingy the Foreclosure Prevention and Response grants directly to local and state Realtor associations so that they candevelop unique, coordinated action plans to prevent foreclosures and minimizwe their adverse effects on the
The group gave the $3,20o to host a foreclosure and shortsales course. And the was given $8,050 to develop a course and DVD for consumersa and agents on the legal riskse associated with foreclosures and short also wasawarded $6,000 to host a Realtotr training course on helping consumers who are behin on their mortgages. The national association gave out morethan $3 milliobn to different city associations to help resolve the growinfg foreclosure problem.
“Realtors builds communities, and as the leading advocatd for homeownership andhousing issues, we believe that any famil y that loses its home to foreclosure is one familgy too many,” NAR President Charles a broker with in Dallas-Fort Worth. “Foreclosures affect each community differently, which is why NAR is providingy the Foreclosure Prevention and Response grants directly to local and state Realtor associations so that they candevelop unique, coordinated action plans to prevent foreclosures and minimizwe their adverse effects on the
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