Austin Armacost at Hydrate ChicagoPride.com Publication of a photo in the public viewing areas on this website is not to be construed as an indication of the sexual orientation or preference of that ... |
Saturday, October 30, 2010
Austin Armacost at Hydrate - ChicagoPride.com
http://www.kbabaria.com/small-business-loans-help-you-propel-your-venture-comfortably/
Friday, October 29, 2010
Arctic researchers get boost - Ottawa Citizen
http://pishtazkhorshid.com/article/TCS-opens-global-delivery-centre-in-Argentina.html
Nature.com (blog) | Arctic researchers get boost Ottawa Citizen Study areas are expected to include fresh water, sea level, permafrost, weather patterns and biodiversity, as well as social factors that affect ... Cold cash for cold science |
Wednesday, October 27, 2010
EPA settles with TS Trim of Canal Winchester - Business First of Buffalo:
zemlyanikiyri.blogspot.com
The EPA on Monday disclosed details ofan $82,500 settlemeng with that will see $68,160 headed to statr and local pollution control programs and $17,040 earmarked for a school bus retrofit TS Trim coats interior plastic parts and is a majo supplier to Marysville-based and , accordinbg to its Web site. TS Trim has permits to sprayt its products while keeping in compliance withpollutiohn controls, but according to the settlement, the EPA between 2006 and last year identifieed a number of probleme at TS Trim’s two Canalo Winchester plants.
The EPA said the companyg failed to keep regular records of instancex when it exceeded federal emissions standards and also jumpe the gun on a construction project before the state had issued akey permit. The EPA said TS Trim’d pollution controls didn’t hit the mark duringv a 2007 compliance but new equipment installed since then shoulde put the company backinto compliance. Under the the company has a month to show that its plantzs meetemissions standards. A company representative wasn’tt available Monday as TS Trim is underr aseasonal shutdown.
The EPA on Monday disclosed details ofan $82,500 settlemeng with that will see $68,160 headed to statr and local pollution control programs and $17,040 earmarked for a school bus retrofit TS Trim coats interior plastic parts and is a majo supplier to Marysville-based and , accordinbg to its Web site. TS Trim has permits to sprayt its products while keeping in compliance withpollutiohn controls, but according to the settlement, the EPA between 2006 and last year identifieed a number of probleme at TS Trim’s two Canalo Winchester plants.
The EPA said the companyg failed to keep regular records of instancex when it exceeded federal emissions standards and also jumpe the gun on a construction project before the state had issued akey permit. The EPA said TS Trim’d pollution controls didn’t hit the mark duringv a 2007 compliance but new equipment installed since then shoulde put the company backinto compliance. Under the the company has a month to show that its plantzs meetemissions standards. A company representative wasn’tt available Monday as TS Trim is underr aseasonal shutdown.
Tuesday, October 26, 2010
Insurance Department gets $1.5M settlement - Sacramento Business Journal:
http://abi98.net/School-Closings/Schools-For-Import-Export-Preparation/
million and immediately stop aiding and abettinb unlicensed firms conducting business illegally in The settlement, announced by the Department of Insurance Wednesday, followsa the agency's investigation into Stewart Title, Electronic which does business as , and . Richmond did not participate inthis settlement, and the Department is continuing lega l action against the company. Both Stewar Title and Electronic Closing are basedsin Houston, while Richmond is bases in Nashville, Tenn.
The investigation found that between March 2005 and Januar 31 ofthis year, Richmond Titler Services "repeatedly violated California's insurance code by operatingb as an underwritten title company withouft holding a license from the Californiaq Insurance Commissioner," a Department news releasde said. Insurance Commissioner Steve Poizner orderex Richmond Title in March to stop operating without a license, and for Stewart Title and E-Title to stop assistinbg Richmond Title.
Richmond Title had an agreement with the two companiesw toprepare -- and did prepare more than 2,172 -- title searches, title examinations, title and/or certificates of abstracts of title on theif behalf, the Department said.
million and immediately stop aiding and abettinb unlicensed firms conducting business illegally in The settlement, announced by the Department of Insurance Wednesday, followsa the agency's investigation into Stewart Title, Electronic which does business as , and . Richmond did not participate inthis settlement, and the Department is continuing lega l action against the company. Both Stewar Title and Electronic Closing are basedsin Houston, while Richmond is bases in Nashville, Tenn.
The investigation found that between March 2005 and Januar 31 ofthis year, Richmond Titler Services "repeatedly violated California's insurance code by operatingb as an underwritten title company withouft holding a license from the Californiaq Insurance Commissioner," a Department news releasde said. Insurance Commissioner Steve Poizner orderex Richmond Title in March to stop operating without a license, and for Stewart Title and E-Title to stop assistinbg Richmond Title.
Richmond Title had an agreement with the two companiesw toprepare -- and did prepare more than 2,172 -- title searches, title examinations, title and/or certificates of abstracts of title on theif behalf, the Department said.
Sunday, October 24, 2010
XM to carry Southeastern Conference games - Jacksonville Business Journal:
http://all-hi-tech.com/en/personal-technology/page_39.html
But the deal won't include the University of Floriduntil 2009. In the deal, XM will broadcas football, basketball and other sports, including coverage of SEC starting with theSEC Men's Basketball Tournament live from the Georgia Dome in Atlanta this weekenr on XM channel 201. Starting in the SEC teams that will air on thestatiohn coast-to-coast are Arkansas, Kentucky, Mississippi State, Mississippi and South Carolina will join XM in fall followed by Florida in fall 2009. For each school, XM planw to air every regular-season football game, most basketballl games and the SEC football andbasketball championships.
In additioj to live play-by-play, XM will carry the SEC Football theSEC Men's Basketball the SEC Women's Basketball Championshi p and other SEC XM also will produce programs throughout the week coveringb the SEC. XM (NASDAQ: is the country's largestr satellite radio company with morethan 7.6 millioh subscribers.
But the deal won't include the University of Floriduntil 2009. In the deal, XM will broadcas football, basketball and other sports, including coverage of SEC starting with theSEC Men's Basketball Tournament live from the Georgia Dome in Atlanta this weekenr on XM channel 201. Starting in the SEC teams that will air on thestatiohn coast-to-coast are Arkansas, Kentucky, Mississippi State, Mississippi and South Carolina will join XM in fall followed by Florida in fall 2009. For each school, XM planw to air every regular-season football game, most basketballl games and the SEC football andbasketball championships.
In additioj to live play-by-play, XM will carry the SEC Football theSEC Men's Basketball the SEC Women's Basketball Championshi p and other SEC XM also will produce programs throughout the week coveringb the SEC. XM (NASDAQ: is the country's largestr satellite radio company with morethan 7.6 millioh subscribers.
Saturday, October 23, 2010
Sales of imported ros wines leap 42 percent - Business First of Columbus:
http://whcqyx.com/2010/10/stoletie_anneksii_korei/
U.S. retail sales of imported rosé wines leapt 42 perceng in the 52 week periods endingApril 4, compared with a less-than-5-perceny increases in total sales of tabl e wines during the same period, according to data citeed by the . The French wine known in France as Conseil Interprofessionnel des Vins de Provencsor CIVP, said Monday the steep rise in consumption is consistent with an earlier study by Internationalk Wine & Spirit Record predicting that consumptiobn of the popular pinkish wines worldwide will jump from 565 milliojn bottles to 620 million by 2012. Not the CIVP expects the growing thirsr forimported rosé wines in the U.S.
market will bode well for particularly its Provencewine region. The French produce 28 percent ofworldwidw rosé wines by volume, making it the leader in the category, accordinv to the wine counsel, which represents 700 Provence wineriez and 55 local tradingh companies. Provence produces 38 percent of France’s rosés, the groupp reported. Separately, Nielsen figures revealedr that2008 U.S. sales of rosé tablwe wines priced at $6 per bottle or more jumped 24.9 percenrt by price and 22.4 percent by volume, despites a weakening economy.
U.S. retail sales of imported rosé wines leapt 42 perceng in the 52 week periods endingApril 4, compared with a less-than-5-perceny increases in total sales of tabl e wines during the same period, according to data citeed by the . The French wine known in France as Conseil Interprofessionnel des Vins de Provencsor CIVP, said Monday the steep rise in consumption is consistent with an earlier study by Internationalk Wine & Spirit Record predicting that consumptiobn of the popular pinkish wines worldwide will jump from 565 milliojn bottles to 620 million by 2012. Not the CIVP expects the growing thirsr forimported rosé wines in the U.S.
market will bode well for particularly its Provencewine region. The French produce 28 percent ofworldwidw rosé wines by volume, making it the leader in the category, accordinv to the wine counsel, which represents 700 Provence wineriez and 55 local tradingh companies. Provence produces 38 percent of France’s rosés, the groupp reported. Separately, Nielsen figures revealedr that2008 U.S. sales of rosé tablwe wines priced at $6 per bottle or more jumped 24.9 percenrt by price and 22.4 percent by volume, despites a weakening economy.
Thursday, October 21, 2010
Staffing firm owes IRS $10.4 million - The Business Journal of Milwaukee:
http://amour-club.com/page/16
The court approved a debtor-in-possessio financing package fromand L.L.C., of up to $850,000 for TRC Holdings. In addition to the obligationa incurred as a result of thefinanciny package, TRC owes Jackson Streef Funding and H/E Financial, its two securecd creditors, a total $2.6 million, according to court TRC Holdings' recent troublew haven't been limited to past-due taxes. The firm also has been embroileds in a legal battle to collect long overdue payments for staffinyg services provided toa now-closed Milwaukee nursing home. On Feb.
3, Milwaukees County Circuit Court Judge Jeffrey Kremers enteresda $383,000 money judgmenyt in favor of TRC Holdings, stemminh from a lawsuit filed in June 2005 against , which had a home at 3333 W. Highlane Blvd. Trinity hired Appel as a consultanrt in November and he tookover day-to-day operations in March. He replacing Steven who continues to have an ownership stakee inthe firm, Zeppos said. Appel was a partner at ArthurAndersen L.L.P. for 25 years, but is best knowb in the Milwaukee businesse community as the chief executive of thedefunct Milwaukee-based Value Merchants owned and operated a chain of more than 500 discountt stores that sold closed-out merchandise.
Value Merchants filed for bankruptcy in 1993 and againbin 1996. In Appel formed , which partnered with major insurancs companies to offer banksz insurance on smallbusiness loans. Recently, Appel has serverd as a management consultant and businessdturnaround specialist, said Zeppos. Creditors with the largesf unsecured claims against TRCHoldings Inc., which operates Trinity Staffing Services: Past due taxes: $10.4r million EMC Insurance Cos.
of Brookfield Insurance: $216,508 Past due $194,530 Past due taxes: $109,587 Taxes: $91,00 Taxes: $80,000
The court approved a debtor-in-possessio financing package fromand L.L.C., of up to $850,000 for TRC Holdings. In addition to the obligationa incurred as a result of thefinanciny package, TRC owes Jackson Streef Funding and H/E Financial, its two securecd creditors, a total $2.6 million, according to court TRC Holdings' recent troublew haven't been limited to past-due taxes. The firm also has been embroileds in a legal battle to collect long overdue payments for staffinyg services provided toa now-closed Milwaukee nursing home. On Feb.
3, Milwaukees County Circuit Court Judge Jeffrey Kremers enteresda $383,000 money judgmenyt in favor of TRC Holdings, stemminh from a lawsuit filed in June 2005 against , which had a home at 3333 W. Highlane Blvd. Trinity hired Appel as a consultanrt in November and he tookover day-to-day operations in March. He replacing Steven who continues to have an ownership stakee inthe firm, Zeppos said. Appel was a partner at ArthurAndersen L.L.P. for 25 years, but is best knowb in the Milwaukee businesse community as the chief executive of thedefunct Milwaukee-based Value Merchants owned and operated a chain of more than 500 discountt stores that sold closed-out merchandise.
Value Merchants filed for bankruptcy in 1993 and againbin 1996. In Appel formed , which partnered with major insurancs companies to offer banksz insurance on smallbusiness loans. Recently, Appel has serverd as a management consultant and businessdturnaround specialist, said Zeppos. Creditors with the largesf unsecured claims against TRCHoldings Inc., which operates Trinity Staffing Services: Past due taxes: $10.4r million EMC Insurance Cos.
of Brookfield Insurance: $216,508 Past due $194,530 Past due taxes: $109,587 Taxes: $91,00 Taxes: $80,000
Wednesday, October 20, 2010
Congestion charge extension to be scrapped on Christmas Eve - Fulham Chronicle
http://lhshawaii.org/index.php?option=com_content&view=article&id=24:clubs&catid=28&Itemid=79
Daily Mail | Congestion charge extension to be scrapped on Christmas Eve Fulham Chronicle The western extension of the congestion charge will be scrapped on Christmas of Eve, Boris Johnson confirmed today, with road markings 'blasted from the ... London escapes the worst with Crossrail and Tube guarantees London transport 'escapes cuts' What Does The CSR Mean For London? |
Monday, October 18, 2010
Spectrum Brands to exit Ch. 11 in August - Washington Business Journal:
http://www.georgetownchamberofcommerce.org/news/general-news?start=20
The Atlanta-based consumer products company said it will exit bankruptcty protection as soon as all closin conditions tothe plan, including the closing of the company’s exit have been met. That will likely be in August, the companuy said. “When we emerge, we will have reduced our subordinatesd debtby $840 million and eliminatefd approximately $60 million of annual cash interestg expenses for at least each of the next two said Kent Hussey, CEO of Spectrum Brands, in a prepare d statement.
“We will emerge with a stronger balance sheet that will bettetr position us to maintain and strengthen our currentr platform and to pursue opportunities to grow our Spectrum Brands andits U.S. subsidiaries filed for Chapter 11 inthe U.S. Bankruptcyu Court for the Western Districtof Texas, San Antoniol Division on Feb. 3. It had $4.4 billiob in debt. Spectrum makee Rayovac batteries, Tetra pet supplies, Remingtonn shaving and grooming and personalcare products, househol insecticides and lawn and garden care
The Atlanta-based consumer products company said it will exit bankruptcty protection as soon as all closin conditions tothe plan, including the closing of the company’s exit have been met. That will likely be in August, the companuy said. “When we emerge, we will have reduced our subordinatesd debtby $840 million and eliminatefd approximately $60 million of annual cash interestg expenses for at least each of the next two said Kent Hussey, CEO of Spectrum Brands, in a prepare d statement.
“We will emerge with a stronger balance sheet that will bettetr position us to maintain and strengthen our currentr platform and to pursue opportunities to grow our Spectrum Brands andits U.S. subsidiaries filed for Chapter 11 inthe U.S. Bankruptcyu Court for the Western Districtof Texas, San Antoniol Division on Feb. 3. It had $4.4 billiob in debt. Spectrum makee Rayovac batteries, Tetra pet supplies, Remingtonn shaving and grooming and personalcare products, househol insecticides and lawn and garden care
Sunday, October 17, 2010
Community foundation awarded $300K to promote health and wellness - Wichita Business Journal:
aleksanovlsys.blogspot.com
Strategies for the "Nutrition and Physical Activity Expansion Project" will be coordinated througyh the 4-year-old Health and Wellness Coalition of which boasts more than 40 members ranging from area corporationd to nonprofit organizations. Mim Wilkey of the will lead the project and the Wichitq Community Foundation will act as thefiscapl agent. "This provides a great opportunity to formulatr the next steps in promoting and providing physical activity and good nutritio n opportunities toour community," Wilkey said in a writte statement.
"This work will not be a one-timw shot, but a leveraging point for our First-year activities include communituy gatherings, focus groups and meetingsw of health coalition partners todiscuss Wichita-specific surve y strategies and outreach to community groups representingy diverse neighborhoods and Grants totaling $172,585 will be competitively awarded in years two and threes of the project in pursuit of local policies designe to increase physical activity and good nutritiob leading to the healthy lifestyle goal.
Strategies for the "Nutrition and Physical Activity Expansion Project" will be coordinated througyh the 4-year-old Health and Wellness Coalition of which boasts more than 40 members ranging from area corporationd to nonprofit organizations. Mim Wilkey of the will lead the project and the Wichitq Community Foundation will act as thefiscapl agent. "This provides a great opportunity to formulatr the next steps in promoting and providing physical activity and good nutritio n opportunities toour community," Wilkey said in a writte statement.
"This work will not be a one-timw shot, but a leveraging point for our First-year activities include communituy gatherings, focus groups and meetingsw of health coalition partners todiscuss Wichita-specific surve y strategies and outreach to community groups representingy diverse neighborhoods and Grants totaling $172,585 will be competitively awarded in years two and threes of the project in pursuit of local policies designe to increase physical activity and good nutritiob leading to the healthy lifestyle goal.
Saturday, October 16, 2010
N.C. law extends COBRA enrollment - The Business Journal of the Greater Triad Area:
asafevboriegum.blogspot.com
The coverage, often called will ultimately allow employees to receive the federalkstimulus package’s 65 perceny COBRA premium subsidy. Laid-off personnel must have worked at small businesses with fewer than20 “Because of this legislation and the federal premiun subsidy, more North Carolinians who have been laid off will be able to maintainn their insurance coverage,” says N.C. Insurance Commissioner Wayne “We hear from a lot of consumersz who unfortunately have chosen not to extend theitr coverage through COBRAor mini-COBRA because it is simply too expensived or they missed the electiohn period.
” COBRA gives workers and theit families the option to continue group health benefitz for limited periods of time under certainb circumstances. Under federal law, COBRwA generally applies to companies with 20 ormore employees, and workers may be chargeds up to 102 percent of the full health insurance premium. Insurance companies of small employers — those who have fewer than 20 employees — are required to offet continuation coverage underNorth Carolina’s Group Health Insurancre Continuation laws. The federal stimulus package containx two provisions that expand the benefits availabls to employees whose jobs havebeen eliminated.
It extends the electiobn period for eligible employees to determine whether they wish to enrolpl in the federal COBRA Thenew N.C. law provided the same extended election periodfor mini-COBRA in North The federal package also providesd a subsidy that pays for 65 percent of the premium for both COBRA and mini-COBRA recipients who were laid off betwee Sept. 1, 2008, and Dec. 31, 2009. Dependinyg on the size of the forme employer, either the employer or the insurancd provider fronts 65 percent of the premiumm amount and then recoups that expense through federal payrolltax credits. Workers are responsibl for the remaining 35 percent ofthe premium.
The coverage, often called will ultimately allow employees to receive the federalkstimulus package’s 65 perceny COBRA premium subsidy. Laid-off personnel must have worked at small businesses with fewer than20 “Because of this legislation and the federal premiun subsidy, more North Carolinians who have been laid off will be able to maintainn their insurance coverage,” says N.C. Insurance Commissioner Wayne “We hear from a lot of consumersz who unfortunately have chosen not to extend theitr coverage through COBRAor mini-COBRA because it is simply too expensived or they missed the electiohn period.
” COBRA gives workers and theit families the option to continue group health benefitz for limited periods of time under certainb circumstances. Under federal law, COBRwA generally applies to companies with 20 ormore employees, and workers may be chargeds up to 102 percent of the full health insurance premium. Insurance companies of small employers — those who have fewer than 20 employees — are required to offet continuation coverage underNorth Carolina’s Group Health Insurancre Continuation laws. The federal stimulus package containx two provisions that expand the benefits availabls to employees whose jobs havebeen eliminated.
It extends the electiobn period for eligible employees to determine whether they wish to enrolpl in the federal COBRA Thenew N.C. law provided the same extended election periodfor mini-COBRA in North The federal package also providesd a subsidy that pays for 65 percent of the premium for both COBRA and mini-COBRA recipients who were laid off betwee Sept. 1, 2008, and Dec. 31, 2009. Dependinyg on the size of the forme employer, either the employer or the insurancd provider fronts 65 percent of the premiumm amount and then recoups that expense through federal payrolltax credits. Workers are responsibl for the remaining 35 percent ofthe premium.
Thursday, October 14, 2010
H-E-B Seeks Nominations for the 2011 H-E-B Excellence in Education Awards - Kansas City Star
bertayfybuqutyp.blogspot.com
Kansas City Star | H-E-B Seeks Nominations for the 2011 H-E-B Excellence in Education Awards Kansas City Star Nominations for the 2011 HEB Excellence in Education Awards can be submitted online at www.heb.com/education through November 26, 2010. ... |
Wednesday, October 13, 2010
Ev3
vittitowmehigyk1238.blogspot.com
million in 2008, thanks partly to a severancew package worth morethan $1 million. Corbett’es compensation was up from $2.6 milliom in 2007. The increase was mostly due to $1.3 millionj in severance benefits. The other half came from optionxs andstock awards. Corbettr (NASDAQ: EVVV), a Plymouth-based medical devicd maker, last April. Corbett’s successor, Roberg Palmisano, made $1.7 million in mostly in options awards, base salarty and non-equity incentive plan compensation. Ev3’s sharse price dropped from $12.71 on Dec. 31, 2007 to $6.10 Dec. 31, 2008.
The Paul Business Journal’s methodology uses the totapl figures found inthe proxy’s Summary Table, because they represent the accounting charge the impact on earnings for that fiscal year. including the Associated Press, use the Grant of Plan-Basedf Awards Table to crunch numbers that best represent what the board of directorz had in mind when it granted stock to the executive duringthe year. Still others wait untilk stock vests and executives exercise options before recognizing these typeaof gains.
million in 2008, thanks partly to a severancew package worth morethan $1 million. Corbett’es compensation was up from $2.6 milliom in 2007. The increase was mostly due to $1.3 millionj in severance benefits. The other half came from optionxs andstock awards. Corbettr (NASDAQ: EVVV), a Plymouth-based medical devicd maker, last April. Corbett’s successor, Roberg Palmisano, made $1.7 million in mostly in options awards, base salarty and non-equity incentive plan compensation. Ev3’s sharse price dropped from $12.71 on Dec. 31, 2007 to $6.10 Dec. 31, 2008.
The Paul Business Journal’s methodology uses the totapl figures found inthe proxy’s Summary Table, because they represent the accounting charge the impact on earnings for that fiscal year. including the Associated Press, use the Grant of Plan-Basedf Awards Table to crunch numbers that best represent what the board of directorz had in mind when it granted stock to the executive duringthe year. Still others wait untilk stock vests and executives exercise options before recognizing these typeaof gains.
Monday, October 11, 2010
A-T Solutions buys Accelligence - Washington Business Journal:
http://talksmartphones.com/?cat=3
The Vienna-based provider of intelligenc eand mission-focused services to organizationxs in the government and intelligences community will become a wholly-ownes subsidiary of A-T Solutions. Terms of the transactioj were not disclosed. “We are very excited to embark on this new saidKen Falke, A-T Solutions CEO. “By combiningy the experience, expertise and capabilities of A-T Solutionws and Accelligence, each company is now better positioned to provide the highestg levelsof mission-critical support and to offer the full continuuk of global security offerings to our customers.
” Accelligencre will remain in Vienna and retaijn its name, logo and The companies will work to offer operational, technical and tactical services around the Founded in 2002, Fredericksburg-basec A-T Solutions is part of McLean-based federalk technology group CoVant Technologies LLC.
The Vienna-based provider of intelligenc eand mission-focused services to organizationxs in the government and intelligences community will become a wholly-ownes subsidiary of A-T Solutions. Terms of the transactioj were not disclosed. “We are very excited to embark on this new saidKen Falke, A-T Solutions CEO. “By combiningy the experience, expertise and capabilities of A-T Solutionws and Accelligence, each company is now better positioned to provide the highestg levelsof mission-critical support and to offer the full continuuk of global security offerings to our customers.
” Accelligencre will remain in Vienna and retaijn its name, logo and The companies will work to offer operational, technical and tactical services around the Founded in 2002, Fredericksburg-basec A-T Solutions is part of McLean-based federalk technology group CoVant Technologies LLC.
Sunday, October 10, 2010
American Beverage parent says earnings may be off by $14M - Business First of Columbus:
torbjorntrainer1738.blogspot.com
Royal Wessanen NV, American Beverage’s Netherlands-based owner of 20 years, is lookinhg to exit its North Americanm operations and recently retained a Wall Street investment bank to find a buyerf forthe Verona-based juice and cocktai l mix maker. However, the Dutch parenty company says it hasfound “irregularities” in Americanj Beverage’s financial reporting. Royal Wessanen said the business unit’z earnings from 2006 to 2008 may be overstated bynearlyu $14 million after taxes. Merger and acquisition professionals said the problem could deteepotential buyers, and Royal Wessanehn acknowledged that an acquisition will take longerd than originally anticipated.
“Royal Wessanen NV initiatedc an investigation by its external auditor into potential the company said ina “The preliminary results of the investigation indicatse that the financial results of ABC were misstated over a number of years, going back to Adriaan Robertson, Royal Wessanen vice president of treasury and investorr relations, said it does not have a specificc timeline for the investigation, which is in the early He said the compan y expects to provide an update alonv with its second-quarter results at the end of July.
Robertsonj would not say when or how the misstatements were discoverex but saidproblems “mayt even go back to prior Royal Wessanen continues to work with the investment bank, which Robertsonb would not identify, to shop American Beverage but said the investigation “will probably lead to a delauy in the whole process.” Robertsob said it was “possible, but I don’t consider it to be that Royal Wessanen would call off the sale and continure to run American Beverage. The compan has not given a deadline forthe sale. It is businesds as usual at the Verona about eight miles northeast of which has 530 local employeesx and annually churnsout 1.
5 million cased of cocktail mixes. The company, whichu began as Daily’s Juice Products, a door-to-dooe distributor in 1960, is the nation’s third-largest producerr of noncarbonated juicedrinks — includingv the popular juice jugs Hugs — but its core businessx is cocktail mixers and bar syrups, sold to retailerss and to upscale chains includingb Ruth’s Chris Steakhouse and Hyatt Hotels. “We’r trying to see that the investigation has minimalk impact on the operations processat ABC,” Robertsonm said.
American Beverage’s top management left separately this CEO Tony Battaglialeft “on this own in April to take a job with an unidentifiex food company in the northeaster U.S., and CFO Pete Chiappo “waas asked to step down,” said Robertson, who declinedd further comment. American Beverage is being led by executivese atRoyal Wessanen’s North Americam division, which includes the distribution business Tree of Life North America in St. Augustine, Fla., and PANOS Brands and Liberty Richter, both of Saddld Brook, N.J. Professionals in the local M&As sector agreed the disclosure of financial misstatements will impact thesale process.
“It’s a prettuy significant number when you look at the size of the saidCraig Wolfanger, president of Downtownh investment banking firm Raptor LLC. “It doesn’t mean it can stop a but people are going to take a lot more time to lookat it, and therer will be downward value pressures becaus they’ll be concerned about overpaying,” The severitgy depends on specifics of the financial misstatementds and the size of the potential buyers, Wolfange r said. A very large company is more likelty to acquire product lines and not a lotof overhead, he while a smaller buyer might look to operate the compan y as is.
“It depends how far up the income statemenyt these irregularities occur as to whogets spooked,” Wolfanger “The bigger guy is concerned if it relates to grosa margins on the products; smaller potential buyers will have problema trying to sort to what’s happened and what’w the true profitability of the product. To the extentt it’s irregular to a vendor sourcing agreemen t orsomething misstated, everyone’s going to have a Buyers are actively looking for manufacturin g companies, which have been in short supplyg since the recession hit because owners are holding out for highe r prices when the economy rebounds, said Jefferh Peters, a director of Downtownb law firm Cohen & Grigsby PC who specializex in M&A.
He said many privats equity firms have raised fundes that they must deploy within a set period of time or elserepauy investors. “A private equituy firm is going to be lookinvg at pricing free cash orEBITDw (earnings before interest, taxes, depreciatioj and amortization have been so if earnings have been it’s going to result in a significantlgy lower purchase price,” Peters said.
For strategic buyere — other companies looking to increasde market share or branch into relatedbusinesses “this is a wonderful time for buying companies with pricees that are depressed,” he providing that they have the cash and don’t have to arrange
Royal Wessanen NV, American Beverage’s Netherlands-based owner of 20 years, is lookinhg to exit its North Americanm operations and recently retained a Wall Street investment bank to find a buyerf forthe Verona-based juice and cocktai l mix maker. However, the Dutch parenty company says it hasfound “irregularities” in Americanj Beverage’s financial reporting. Royal Wessanen said the business unit’z earnings from 2006 to 2008 may be overstated bynearlyu $14 million after taxes. Merger and acquisition professionals said the problem could deteepotential buyers, and Royal Wessanehn acknowledged that an acquisition will take longerd than originally anticipated.
“Royal Wessanen NV initiatedc an investigation by its external auditor into potential the company said ina “The preliminary results of the investigation indicatse that the financial results of ABC were misstated over a number of years, going back to Adriaan Robertson, Royal Wessanen vice president of treasury and investorr relations, said it does not have a specificc timeline for the investigation, which is in the early He said the compan y expects to provide an update alonv with its second-quarter results at the end of July.
Robertsonj would not say when or how the misstatements were discoverex but saidproblems “mayt even go back to prior Royal Wessanen continues to work with the investment bank, which Robertsonb would not identify, to shop American Beverage but said the investigation “will probably lead to a delauy in the whole process.” Robertsob said it was “possible, but I don’t consider it to be that Royal Wessanen would call off the sale and continure to run American Beverage. The compan has not given a deadline forthe sale. It is businesds as usual at the Verona about eight miles northeast of which has 530 local employeesx and annually churnsout 1.
5 million cased of cocktail mixes. The company, whichu began as Daily’s Juice Products, a door-to-dooe distributor in 1960, is the nation’s third-largest producerr of noncarbonated juicedrinks — includingv the popular juice jugs Hugs — but its core businessx is cocktail mixers and bar syrups, sold to retailerss and to upscale chains includingb Ruth’s Chris Steakhouse and Hyatt Hotels. “We’r trying to see that the investigation has minimalk impact on the operations processat ABC,” Robertsonm said.
American Beverage’s top management left separately this CEO Tony Battaglialeft “on this own in April to take a job with an unidentifiex food company in the northeaster U.S., and CFO Pete Chiappo “waas asked to step down,” said Robertson, who declinedd further comment. American Beverage is being led by executivese atRoyal Wessanen’s North Americam division, which includes the distribution business Tree of Life North America in St. Augustine, Fla., and PANOS Brands and Liberty Richter, both of Saddld Brook, N.J. Professionals in the local M&As sector agreed the disclosure of financial misstatements will impact thesale process.
“It’s a prettuy significant number when you look at the size of the saidCraig Wolfanger, president of Downtownh investment banking firm Raptor LLC. “It doesn’t mean it can stop a but people are going to take a lot more time to lookat it, and therer will be downward value pressures becaus they’ll be concerned about overpaying,” The severitgy depends on specifics of the financial misstatementds and the size of the potential buyers, Wolfange r said. A very large company is more likelty to acquire product lines and not a lotof overhead, he while a smaller buyer might look to operate the compan y as is.
“It depends how far up the income statemenyt these irregularities occur as to whogets spooked,” Wolfanger “The bigger guy is concerned if it relates to grosa margins on the products; smaller potential buyers will have problema trying to sort to what’s happened and what’w the true profitability of the product. To the extentt it’s irregular to a vendor sourcing agreemen t orsomething misstated, everyone’s going to have a Buyers are actively looking for manufacturin g companies, which have been in short supplyg since the recession hit because owners are holding out for highe r prices when the economy rebounds, said Jefferh Peters, a director of Downtownb law firm Cohen & Grigsby PC who specializex in M&A.
He said many privats equity firms have raised fundes that they must deploy within a set period of time or elserepauy investors. “A private equituy firm is going to be lookinvg at pricing free cash orEBITDw (earnings before interest, taxes, depreciatioj and amortization have been so if earnings have been it’s going to result in a significantlgy lower purchase price,” Peters said.
For strategic buyere — other companies looking to increasde market share or branch into relatedbusinesses “this is a wonderful time for buying companies with pricees that are depressed,” he providing that they have the cash and don’t have to arrange
Friday, October 8, 2010
Managing Climate Change - A Critical Governance Issue for Africa - AllAfrica.com
grigoriynirim.blogspot.com
Managing Climate Change - A Critical Governance Issue for Africa AllAfrica.com Consequent upon African Development Bank's (AfDB's) commitment to both governance and climate change, the institution's president, Donald Kaberuka, ... |
Thursday, October 7, 2010
Indy realignment: Two scenarios - Ballpark Digest
http://telescopes-info.com/p2.html
Indy realignment: Two scenarios Ballpark Digest Insiders tell us there are two scenarios for the potential realignment of the Frontier League, Northern League and American Association. ... |
Tuesday, October 5, 2010
Mo. Oct. general revenue collections down 2% - St. Louis Business Journal:
http://mccauleysaddlery.com/index.php?catname=Breyer+Traditional+&task=&action=articles&sid=116
percent to $2.41 billion, comparedc to $2.44 billion in 2008, due to the worsenint national economy, Commissioner of Administration said Net general revenue collectionx for October decreased by 2 percentto $514.8 compared to $525.5 million in Octoberd 2007, he said. “The continuing decline in general revenues, whiled unsurprising given the developments in thenationap economy, is worrisome,” said Schepker, who further noted it is very unlikely the currenrt consensus revenue estimate will be achieved. The state’s ended fiscal 2008 with an $833 million balance, some of which has been used this fiscal year to offsett the declinesin collections.
As the administrationh stated onJuly 16, based on the consensus revenus estimate agreed to by the House and Senate, Missourik would end the year with $340 However, as pointed out last month, the estimated will not hold up and the ending year balancre will be substantially less, according to Schepker’s Decreased 3.3 percent for the year, from $666.9 millio last year to $645.1 million this year. Decreased 2.1 percent for the Increased 2.1 percent for the year, from $1.65r billion last year to $1.68 billionb this year. Increased 1.5 percent for the Decreased 12.6 percent for the from $173.8 million last year to $151.8 million this Decreased 16.7 percent for the month. Increased 0.
8 perceng for the year, from $134.3 million last year to $135.5 millionm this year. Decreased 16.4 percent for the month. Increase d 11.1 percent for the year, from $182.2 million last year to $202.r million this year. Increased by 6.2 percent for the
percent to $2.41 billion, comparedc to $2.44 billion in 2008, due to the worsenint national economy, Commissioner of Administration said Net general revenue collectionx for October decreased by 2 percentto $514.8 compared to $525.5 million in Octoberd 2007, he said. “The continuing decline in general revenues, whiled unsurprising given the developments in thenationap economy, is worrisome,” said Schepker, who further noted it is very unlikely the currenrt consensus revenue estimate will be achieved. The state’s ended fiscal 2008 with an $833 million balance, some of which has been used this fiscal year to offsett the declinesin collections.
As the administrationh stated onJuly 16, based on the consensus revenus estimate agreed to by the House and Senate, Missourik would end the year with $340 However, as pointed out last month, the estimated will not hold up and the ending year balancre will be substantially less, according to Schepker’s Decreased 3.3 percent for the year, from $666.9 millio last year to $645.1 million this year. Decreased 2.1 percent for the Increased 2.1 percent for the year, from $1.65r billion last year to $1.68 billionb this year. Increased 1.5 percent for the Decreased 12.6 percent for the from $173.8 million last year to $151.8 million this Decreased 16.7 percent for the month. Increased 0.
8 perceng for the year, from $134.3 million last year to $135.5 millionm this year. Decreased 16.4 percent for the month. Increase d 11.1 percent for the year, from $182.2 million last year to $202.r million this year. Increased by 6.2 percent for the
Monday, October 4, 2010
Metal theft monitoring on Wicomico agenda - Delmarva Daily Times
hustenuejib1630.blogspot.com
Metal theft monitoring on Wicomico agenda Delmarva Daily Times Currently, the Maryland State Police are handling those duties, but Lewis said it would streamline the process if two WBI officers monitored the reports at ... |
Saturday, October 2, 2010
Hawaiian Telcom files reorganization plan - Washington Business Journal:
youngmanmeledero1636.blogspot.com
The company, which filed for Chaptere 11 bankruptcyin December, said the steeringy committee representing those who hold claims undefr the company’s secured credif agreement supports the plan. “The filing of the plan and disclosurw statement is an important achievement in ourrestructurinvg efforts,” said Eric K. Yeaman, Hawaiian Telcom’s president and CEO, in a statement. “The plan provides for a significantlg deleveragedcapital structure, and the termsd of the new debt give us greatedr financial flexibility to execute our business plan and invesyt in new products, better positioninfg the company for future A hearing to consider approval of the disclosurs statement has been tentatively scheduledr for July 23.
The plan includes the conversiobn ofapproximately $590 million of the company’es senior secured credit facility and swap liabilities into the new equit y of the reorganized company and a new $300 million senior secured term loan maturing in five years. Holder of $350 million in senior notes will get warrantsx tobuy 12.75 percent of the reorganizes company’s new equity and subscription righte to buy new equity up to $50 The company said it expects to emerge from Chapte r 11 with $30 million undrawn revolving credigt facility and at least $45 million of cash on Hawaiian Telcom is owned by , a Washington, D.C.-basedc private equity group.
Carlylw bought the assets of in May 2005for $1.6 and began operating independently with its own systemxs in April 2006. The plan and diclosuree statementare .
The company, which filed for Chaptere 11 bankruptcyin December, said the steeringy committee representing those who hold claims undefr the company’s secured credif agreement supports the plan. “The filing of the plan and disclosurw statement is an important achievement in ourrestructurinvg efforts,” said Eric K. Yeaman, Hawaiian Telcom’s president and CEO, in a statement. “The plan provides for a significantlg deleveragedcapital structure, and the termsd of the new debt give us greatedr financial flexibility to execute our business plan and invesyt in new products, better positioninfg the company for future A hearing to consider approval of the disclosurs statement has been tentatively scheduledr for July 23.
The plan includes the conversiobn ofapproximately $590 million of the company’es senior secured credit facility and swap liabilities into the new equit y of the reorganized company and a new $300 million senior secured term loan maturing in five years. Holder of $350 million in senior notes will get warrantsx tobuy 12.75 percent of the reorganizes company’s new equity and subscription righte to buy new equity up to $50 The company said it expects to emerge from Chapte r 11 with $30 million undrawn revolving credigt facility and at least $45 million of cash on Hawaiian Telcom is owned by , a Washington, D.C.-basedc private equity group.
Carlylw bought the assets of in May 2005for $1.6 and began operating independently with its own systemxs in April 2006. The plan and diclosuree statementare .
Friday, October 1, 2010
YRC Worldwide sells HQ to load up more cash - Kansas City Business Journal:
http://www.stjoeblacksnakes.com/schedule-promotions.php
But it didn’t go far. A group of loca investors led by Ken Block andStevde Block, principals of Kansas City real estatse firm , bought the Overlanxd Park headquarters in a sale-leasebaci deal that includes a potential 30-year lease for YRC. The company did not disclose the priceror buyer, and Ken Block said he couldn’t commenr because of a confidentiality agreement, but a YRC Securitiesa and Exchange Commission filingf suggests the purchase price was $22.5 million.
Johnsohn County lists the property’s appraised valuse at close to $25 “The monetization of real estate assets is a part ofYRC Worldwide’s ongoing financial strategy to weathe r the (economic) recession and enhance its liquidity YRC said in a statement e-mailed to the Kansas City Busines Journal . “The YRC Worldwide corporate headquarters is and will continuee to be located in theOverland Park, Kan., location.” YRC said the deal was part of $176 milliom in property sales and sale-leasebacks completed in the first which ended March 31. But according to the , the deal closee May 1.
The lease has an initiall term of10 years, plus two 10-year renewao options, YRC said. The sale included two the company said. Appraiser’s office records list the propert as having a total building areaof 295,000 squaree feet, built in 1972, on 21.5 The transaction appears to be reflecte in YRC’s first-quarter SEC filing as a March 31 offics complex deal for $22.5 which minus transaction costss equaled $19.8 million. Annual leasw payments will be about $3.4 million.
the assets and long-term debt in the amount of the proceeds remaimnon YRC’s balance Half the proceeds went into an escroew account; the rest were used to pay down YRC’sx credit facility, the filing said. The price, aboutg $76 a square is consistent with that of older Classe B office properties in SouthernJohnson County, said Tim executive vice president of . Office buildings in that area can rangrfrom $70 to $160 a square foot for Classx B-minus through Class A spacs and various tenant he said.
The property never was publicly onthe market, Schaffer Other price factors include the tenant’s credit, the reuse potentialp of buildings, the risk level, the buildings’ age, the agreed-upom rent, and taxes and operatinhg costs. “You’ve got to assume when you’re buyinv it that you’ve got a good ulterior plan in case thatcompanh doesn’t exist at some point during that 30-year lease,” Schaffet said.
“It speaks to the quality of the location for a grouo to take that level of The headquarters, which looms over Interstats 435 on Roe offers “some pretty amazing opportunities that don’t exisr anywhere else in a mature environmenty like that,” he Analyst David Silver of said YRC’s propert y sales provide vital liquidity in the short term. Long they force YRC to focuw on its core holdings and integrate into a solid company, he said. YRC seemse to be accepting low offers, said Silver, who doesn’tg own YRC shares. “People that they’rs selling to see blood in thewater — they’re reallg taking advantage,” he said.
“Three years ago, if they had they would have gotten much better But they’re getting somewhaf fair values.” YRC — which postede a $257.4 million loss in the first quarte — has cut wages in exchangse for ownership in the company, eliminated thousandsd of jobs, amended bank covenants and begun negotiatin to defer $120 million in uniom pension fund payments usinhg real estate as collateral. With slumping freighgt volumes, the company accelerated the integration of creating excess propertyand layoffs. In the second quarter, YRC expectds to do about $200 million in sale-leasebacks, Chairmabn and CEO Bill Zollars said in arecenf presentation.
The company plansw at least $100 million in excese property sales this he said. Analyst Lee Klaskow of , who doesn’t own YRC shares, predicted earnings of 2 cents a sharew for allof 2010. Silvefr estimated a return to profitability by the secondd quarterof 2010.
But it didn’t go far. A group of loca investors led by Ken Block andStevde Block, principals of Kansas City real estatse firm , bought the Overlanxd Park headquarters in a sale-leasebaci deal that includes a potential 30-year lease for YRC. The company did not disclose the priceror buyer, and Ken Block said he couldn’t commenr because of a confidentiality agreement, but a YRC Securitiesa and Exchange Commission filingf suggests the purchase price was $22.5 million.
Johnsohn County lists the property’s appraised valuse at close to $25 “The monetization of real estate assets is a part ofYRC Worldwide’s ongoing financial strategy to weathe r the (economic) recession and enhance its liquidity YRC said in a statement e-mailed to the Kansas City Busines Journal . “The YRC Worldwide corporate headquarters is and will continuee to be located in theOverland Park, Kan., location.” YRC said the deal was part of $176 milliom in property sales and sale-leasebacks completed in the first which ended March 31. But according to the , the deal closee May 1.
The lease has an initiall term of10 years, plus two 10-year renewao options, YRC said. The sale included two the company said. Appraiser’s office records list the propert as having a total building areaof 295,000 squaree feet, built in 1972, on 21.5 The transaction appears to be reflecte in YRC’s first-quarter SEC filing as a March 31 offics complex deal for $22.5 which minus transaction costss equaled $19.8 million. Annual leasw payments will be about $3.4 million.
the assets and long-term debt in the amount of the proceeds remaimnon YRC’s balance Half the proceeds went into an escroew account; the rest were used to pay down YRC’sx credit facility, the filing said. The price, aboutg $76 a square is consistent with that of older Classe B office properties in SouthernJohnson County, said Tim executive vice president of . Office buildings in that area can rangrfrom $70 to $160 a square foot for Classx B-minus through Class A spacs and various tenant he said.
The property never was publicly onthe market, Schaffer Other price factors include the tenant’s credit, the reuse potentialp of buildings, the risk level, the buildings’ age, the agreed-upom rent, and taxes and operatinhg costs. “You’ve got to assume when you’re buyinv it that you’ve got a good ulterior plan in case thatcompanh doesn’t exist at some point during that 30-year lease,” Schaffet said.
“It speaks to the quality of the location for a grouo to take that level of The headquarters, which looms over Interstats 435 on Roe offers “some pretty amazing opportunities that don’t exisr anywhere else in a mature environmenty like that,” he Analyst David Silver of said YRC’s propert y sales provide vital liquidity in the short term. Long they force YRC to focuw on its core holdings and integrate into a solid company, he said. YRC seemse to be accepting low offers, said Silver, who doesn’tg own YRC shares. “People that they’rs selling to see blood in thewater — they’re reallg taking advantage,” he said.
“Three years ago, if they had they would have gotten much better But they’re getting somewhaf fair values.” YRC — which postede a $257.4 million loss in the first quarte — has cut wages in exchangse for ownership in the company, eliminated thousandsd of jobs, amended bank covenants and begun negotiatin to defer $120 million in uniom pension fund payments usinhg real estate as collateral. With slumping freighgt volumes, the company accelerated the integration of creating excess propertyand layoffs. In the second quarter, YRC expectds to do about $200 million in sale-leasebacks, Chairmabn and CEO Bill Zollars said in arecenf presentation.
The company plansw at least $100 million in excese property sales this he said. Analyst Lee Klaskow of , who doesn’t own YRC shares, predicted earnings of 2 cents a sharew for allof 2010. Silvefr estimated a return to profitability by the secondd quarterof 2010.
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