Saturday, October 30, 2010

Overbuilding of golf courses has some owners struggling to make money - The Business Journal of Milwaukee:

http://www.focusautoclub.com/need-partsadvice-for-a-1999-focus
"We are definitely saturated in termsxof courses," said Terianne Petzold, executivr director of the , a Milwaukee-based industruy group. "We're at the poinrt where we're getting pretty close to full It would be nice to figure out a way to get peoplse tostop building." Industryu observers said there is no questiojn that golf is popula in the state. There are currently 737,009 individual golfers in Wisconsin, makingb the state second in the number of golfersw per capita inthe nation, according to the Professional Association. But at the same time, Wisconsin's golf industry is the eighth-most saturated in the United States, according to figures from the Fla.
-based National Golf Foundation (NGF). In 2003, Wisconsin had 12,291 people per 18 more saturated than states such as Texasand California, statistics show. So while the number of golfersareaches all-time highs, "individual courses will tell you theit rounds have gone Petzold said. Consequently, many are seeing revenue decline, she said. In the Milwaukee area, bad weatheer in April and May has impacted courses this but problems with the industrgy extend farbeyond that, golf course owners said. "Ww had an overbuilding of golfcourse holes," said Brucr Bloemer, co-owner of in Port Washington.
"Investors builg courses that they shouldn't Bloemer left his job as an executive for an electric cabling company in Illinois and purchased Squiresin 1993. Over the next nine 72 holes opened withina 20-milde radius of his course. "You can'yt take that kind of growth in the inventor ofgolf holes," he said. Bloemer said the overbuildin g came from exuberance in a roaring economg in thelate 1990s. A more recengt slowdown exacerbated bythe Sept. 11, terrorist attacks sent the number of roundse played lower even as the number of golfers has increasedf toan all-time high of 37.9 milliom nationwide, figures show.
The result is that coursed such as Squires are feeling the pinch ofdeclining play. Squires is at a "break-even this year, he said. "The partuy is over. Now you have to survives on a lot less revenuer than weused to," Bloemer said. The number of Wisconsin "golf facilities," either nine or 18-hole courses or both on the same hasincreased 17.4 percent in the last from 419 in 1994 to 492 in 2003, according to the NGF.
In the last eight years, nine new golf courses have openexin Milwaukee, Waukesha, Racine and Ozaukee counties giving the four-county area 60 courses, according to the Wisconsij State Golf Association (WSGA), a Brookfield-based amateur golfing organization. The majority of the state'ws courses are members of the Seven new courses opened in Waukesha County alone during that time according tothe WSGA, including the 18-hol in Wales and the nine-hole Preservre at Deer Creek in New Berlin in 2003. Wisconsin followeds a nationwide trend. In 2000, 398.5 new 18-hole equivaleny courses opened in the United according tothe NGF. Those numberw have fallen ever since.
In 171 18-hole equivalent courses opened, the fewest sincw 1987. This year, 156.5 courses are projected to according tothe NGF. Locally, buildingv is expected to slow down as bankds become more hesitant to loan to golf cours operators and available realestate disappears, said Jack Gaudion, co-ownerr and chief operating officer of The Legend at a private club. "But if you poll the golf coursse owners in Wisconsin and ask where woulde you be comfortable with another coursebeinvg built, they would say, 'On somebodhy else's block,' " Gaudion said.
The Legend has been a succesxs story, with membership topping 390 families in the firsty year alone and plans fora three-phase home and condominium developmenyt -- a key component for anyone looking to build a new golf course aheac of schedule, Gaudion said. "The golf industry is troubled, but it'zs not that troubled," Gaudiojn said. "The private club marketf here is a verystrong market. But you have to differentiatreyour club. You can'yt be everything to The Legend at Brandybrook has attemptec to attract more families to the club with a watet slide and other activities away from the golfcoursse itself.
Some courses have turnexd to aggressive discounting to continue tobetter , a public 18-hole course, used a "Golfee of the Day" promotion on weekends that has one custome winning a free round, cart and lunchh to help keep customer counts up in recenr years. Still, revenue decreased, as it became increasinglyy difficult to cut prices significantly and turn a The course has been forcedd to trimits budget. "We've got to get every buck we canwithougt discounting," said James Bonin, Muskego chief operating officer. "You just can't work on a 2 or 3 percentr margin.
"

Friday, October 29, 2010

Dogtoberfest Benefits Local Dog Park - KWQC 6

http://www.akiat.net/Kyunhylyu.html


Dogtoberfest Benefits Local Dog Park

KWQC 6


Hundreds of dogs and their two-legged counter parts turned out to Moline's Bier Stube for the second annual Dogtoberfest. It is a fundraiser to benefit ...


"Dogtoberfest" celebrating  »

Wednesday, October 27, 2010

'The Last Train Home': Documenting China's Race to the Bottom - The Atlantic (blog)

vittitowmehigyk1238.blogspot.com


'The Last Train Home': Documenting China's Race to the Bottom

The Atlantic (blog)


Every year China's port cities erupt in chaos as 130 million migrant factory workers scramble to make their yearly pilgrimage home for the New Year. ...



Tuesday, October 26, 2010

San Francisco unemployment highest since 1984 - Pacific Business News (Honolulu):

http://dbaby.com/help/other/index.htm
Despite signs that the national slowdown may be nearingits end, the city’sw jobless rate continues to rise rapidly, the controller said in a monthlyg update on economic conditions. The city’se unemployment rate was 4.3 percent one year ago. Employment construction, retail trade — particularly auto dealerships and financial services show the largest percentagwe declines in employment in thelocall economy.
Based on March numbers, the Controller’s Office the greatest risk of upcomin job losses isin tourism-related busineses as job losses are starting to accelerater in this sector, consistent with market Both the hotel sector and international arrivalse to posted their weakest numbers of this recessionn last February, with sharpl year-over-year declines. A decline in discretionary consumer spendingf has now hitthe city’s tourism industry.
Tax receipts for March hotekl activity show an improvementover February, but the 20 percen annual decline in March is still the second-worst month of the The city’s real estate industry is not showintg signs of recovery, with accelerating annua declines in residential asking rents, median home salex and commercial rents. The commercial vacancy rate remainsx a relativelyhealthy 13.8 but this figure does not include nearlu one million square feet of sublease space now on the market, the Controller’sd Office said. A copy of the report can be downloadeed .

Sunday, October 24, 2010

Deal of the week: DHL Global Mail - South Florida Business Journal:

http://myfunkyfuneral.com/blog/?m=200709
The lease’s value is abourt $3.2 million. “We were able to put together anentirr floor,” Messinger said. “They were out in the markeg for more thana year.” DHL Global Mail, a subsidiary of Germany-based , serves high-volume international and domestiv mailers. The company distributes businessw correspondence, direct mail, catalogues, publications and parcelds worldwide. DHL Global Mail has 80 employeesain Weston, 280 in the Americaes and 4,000 worldwide, company spokesman Jonathan Baker said. Its operations are separatwe from , which in November announced it would discontinuedomestiv services, effective Jan. 30.
DHL Express has its Americanh headquartersin Plantation. DHL Global Mail even considered moving into spacee withinDHL Express’ large Messinger said, but opted for consolidatiny at the two-building Weston Corporate The decade-old complex sits on 9.83 acres along Interstate 75 and Royal Palm Boulevard. “Thehy were looking at other options,” he said. Landing DHL Globalo Mail for a long-term lease also prompted Mail Terminal a DHLstrategic partner, to sign on the dottes line for 4,700 square feet of its own, Messingere said. The firm employs aboutf 25. The value of that lease is about $1.5 million.

Saturday, October 23, 2010

Gen Y not into Twitter - South Florida Business Journal:

http://www.virtualworlds2008.com/speakers/alexismueller.html
A new survey by the Participatorty Marketing Network finds just 22 percent of Generation Y consumersx areusing Twitter. However, when askex about how much they usesocialo networking, 99 percent from this group, who in general have not yet hit 30, repory having an active profile on at least one social networking site. "Twitter dominates the news, but clearly we'red only touching the surface of its potential as amarketing vehicle," said Michael Della Penna, PMN’s co-founder and executive chairman.
"Thi is a classic 'glass half full' scenario for Twitter because it' s clear that Gen Y has an appetitew forsocial networking, but still hasn't fully embraced There is a tremendous opportunity now for marketer to develop strategies to get this importan group active on Twitter, More than 85 percent folloa friends. More than 54 percent follow celebrities. More than 29 percentr follow family. More than 29 percent follow Of those who use asocialp network, 89 percent have downloaded one of the followinfg to their profile page: photos (89 games (53 percent), entertainment (51 percent), news (32 percent) and weathert (29 percent).
Thirty-eight percent of Gen Y have an iPhoner oriPod Touch. Games (53 entertainment (35 percent), lifestyle (31 financial - "free" (28 percent), financial (seven percent) are the most populad mobile applications. More than one-quarter (26 percent) indicated none. You can click to follow the South Floridw Business Journalon Twitter.

Friday, October 22, 2010

At the Movies - Ottawa Citizen

http://www.kdaviesnz.com/2009/04/


At the Movies

Ottawa Citizen


Canadian Museum of Civilization. Arabia 3D; Hubble 3D; Ride Around The World; Avatar: Special Edition. www.civilization.ca/imax.



Wednesday, October 20, 2010

Ohio State liaison helps businesses connect with resources at school - Business First of Columbus:

http://www.hkmentalhealthsupport.org/article/MRIS-Raises-4-000-For-Multiple-Sclerosis-Society.html
The Industry Liaison Office started work in led bySharell Mikesell, an associate vice presiden t hired from a nearby polymer collaborative. His goal is to expandc the university’s partnerships with international companiesw that commission millions of dollars in sponsores research from just a few to abourta dozen, and increase the number of companies the universitty works with, especially smalo businesses, by 20 The office also aims to double internship s for students. “If I’d only known what had been availablew (at universities), my life in industry would have been a lot said Mikesell, who has held top technologyu posts at Co.
, and He plans to modeol the office after one at the . “It’as a pretty smart strategic decision on the part of saidDaniel Navin, assistant vice presidengt at the . Larger companies are aware of resources at the he said, but small and medium-size businessezs don’t have the same access. Mikesellp agreed, noting that medium and smalled companies employ 80 percent of Ohioans and are a majof target of theliaison office. The office also can help expandf long-standing relationships with corporations that might work with an engineering researcher but could get help from the medical orbusinesw schools, he said.
“There’s far more we could be doing for them if we continuw to push to learntheir needs,” Mikesell The office opened at the best possible time for findinhg an audience, Mikesell said, but the worst time for businesses to find money for research. That could slow but Ohio State could focus for nowon quick-turnaroundf projects. Establishing the liaison office alignes with an OSU goal formore cross-disciplinaru research, and a call from the stat e Board or Regents for schools to heed the researchy and training needs of business, Mikesell said.
Mikesell’ s previous experience as co-director of the Columbus-basec Center for Multifunctional Polymer Nanomaterials and a six-university collaborative, has drawnh two small polymer businesses to the “I’m really hoping they can smootgh the path for us,” said John sales engineer for . An independent spinoff from Texas-based , the company designs resins and othe materials at the molecular level to improvs their mechanical or electricalconducting properties. The TechColumbux tenant has used Ohio Statew business students for market research but is looking for more inroadsz in theengineering school, Frechettre said.
“They’re more than willing to work on projects with you if it fits theitrcurrent interests,” he said. Frechette is hoping the liaison can prod professorsw to take on research that meets immediated practical needsof industry. “If the universituy wants their students to get someindustriakl exposure, our opinion is they have to be a little more flexiblre on the technical side,” he said. “Getting experience here in Ohio companies, I will be a big deal.
” The Collegse of Engineering has a stront reputation for serving research needs of some 275companies it’d worked with in the past five said Randy Moses, interim associate dean for Zyvex just may have not linke with the right faculty member precisely the reason the liaisobn was created. Don Duffy, CEO of Lancaster-based research company , said the polymere group helped link him with the agriculture school for workon soybean-basedf insulating foam. Now goinb through the liaison, he’s hoping to win a granr to gain access toOhio State’s wind tunnell for testing a wind-driven generator and work with materialsa science researchers on developing turbine blades.
The liaison is “handy” for his five-employede shop, Duffy said, but he probably could have founx resources onhis own. “That’s what I’m good at, digginvg up information,” he said.

Tuesday, October 19, 2010

Associated Press to Pursue Creation of Rights Clearinghouse - Editor & Publisher

http://www.de-warehouse.com/resources.htm


Associated Press to Pursue Creation of Rights Clearinghouse

Editor & Publisher


NEW YORK - The Associated Press is working with news providers to create a new rights clearinghouse that will enable broader and better access to original ...



and more »

Sunday, October 17, 2010

Marquette professor wins Haggerty Award - The Business Journal of Milwaukee:

badillodacyroic1505.blogspot.com
Downs, of Menomonee Falls, researches the procese of normal egg maturationin mammals, specificallt the metabolic pathways that help regulate development of oocytesd — unfertilized egg cells. Understandinv how these metabolic pathways regulate normal maturation is important because abnormalities in the procesas can lead to abnormap developmentof eggs, manifested in chromosomal irregularities such as Down While Downs said he focuses mainly on the most scientific level of understanding egg maturation, he is inspired by the applicationsa of his research.
In addition to bettee understanding causes ofDown syndrome, his research applicationsx include optimizing fertility treatments and diabetes treatment and His research also has been applied to maximizing fertilit y efficiency in domestic livestock by perfecting in vitro “There’s nothing like coming into the lab and findinh out that the data you’vw collected matches what you hypothesized would he said in a statement. “It’ws that excitement of discovery that keepw me coming backfor more.
” Most recently, work has focused on the effectsz of a stress-response protein on regulating oocyte maturation in Results of these studies could show a connectiom between physical, chemical and metabolic stress and abnormalities in Downs was selected for the award by Marquette’s Committeee on Research and receiverd $5,000.

Saturday, October 16, 2010

Occidental overhauls pay structure - Financial Times

ulyanaimiiurebor.blogspot.com


Occidental overhauls pay structure

Financial Times


Mr Chazen, president and chief operating officer, and other top executives will be paid under a new structure meant to bring Occidental's compensation ...



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Thursday, October 14, 2010

San Francisco Business Times: List Survey

vidineevostegity.blogspot.com
All submissions must be received on or befors theJuly 15, 2009 deadline. Submissions for this surveh will be used to determine both the100 Fastest-Growingf Private Cos. in the Bay Area (Alameda, Contrs Costa, Marin, San Francisco and San Mateo countiez and the city ofPalo Alto) as well as the 50 Fastest-Growintg Private Cos. in the East Bay (Alamedwa and Contra Costa counties). Independent privately-held proprietorship or partnership (not a subsidiarh or a division) through fiscal year-ensd 2008.
Headquartered in the Bay Area Contra Costa, Marin, San Francisco, San Mateo and the city of Palo A three year sales history (fiscal yearxs 2006, 2007 and 2008) with an increase in fisca year 2008 over fiscaol year 2006. Revenues of more than $200,000 in fiscal year and the company must have been in business throughoutt fiscalyear 2006. Provide all information requested onthe application, includinh verification documents. Important Reminders: Applications will be accepted for fiscapl years ending up to and includintMarch 31, 2009, which qualifies as fiscalo 2008.
As long as the company remained privatew through fiscalyear 2008, those companies that went publifc in fiscal year 2009 may If your company grew by at leasyt 10 percent from 2006 to we encourage you to fill out a survety immediately. The CEOs of those companies that make it onto the Fast 100 will be honorefd at gala awards reception in the The rankings will be announced atthis event. This awards reception is a tremendous opportunit to meet and network with the leaderz of theother fast-growinb companies in our area. Fast 100 and Fast 50 Companies are rankedc on percentage of revenue growth from 2006 to2008 (excludingg 2007).
To qualify, you must provide revenue figurex for theyears 2006, 2007 and 2008. The San Franciscol Business Times partners with PricewaterhouseCoopersa to conduct the research and produce the Top 100 and Top50 Fastest-Growingb Private Companies Lists. The name and contacr information of the person completingthis survey. denotes a requireed field. ex. Mr./Ms. ex. John ex. A. (may be left ex. Smith ex. Jr., M.D. (may be left blank) ex. HR Directore ex. jsmith@acme.com ex. (613) 555-5555 Has your company been included in any of ourlistxs before? Basic information about the company or program. ex. Acme Corporationh ex. 123 W. 5th Avenue ex. San Franciscp ex. CA ex. 95307 ex. (800) 355-555t ex.
(800) 355-5555 ex. http://www.bizjournals.com/ This business is a family-owned   This business is a minority-ownecd business.   This business is a non-profit   This business is a privately held   This business is a publicly traded company.   This business is a women-ownedc business. Fiscal year 2006 revenue or total netsalexs (figures must be uniform for each year, either accruap or cash) Fiscal year 2007 revenue or totao net sales (figures must be uniform for each either accrual or cash) Fiscal year 2008 revenued or total net sales (figures must be uniform for each either accrual or cash) No. of companywids employees 2006 (headcount) No.
of companywider employees 2007 (headcount) No. of companywide employees 2008 (headcount) No. of Bay Area employee s 2006 (headcount) No. of Bay Area employees 2007 (headcount) No. of Bay Area employeesz 2008 (headcount) No. of East Bay employee s 2006 (headcount) No. of East Bay employeee 2007 (headcount) No. of East Bay employeews 2008 (headcount) Verification In order to all applicants must submit financial documentation confirmintgtheir revenue. Acceptable forms of documentation includer one ofthe following: Audited financial statements-Must have a signeed accountant's letter. Please submitt only balance sheet andincome statement.
CPA-reviewedd financial statements-Must have a signed accountant's letter. Please submit only balance sheeft andincome statement. Tax returns-Signed by CPA. Please send financial statementt via email or regular mail to LisaMetzger (lmetzger@bizjournals.comk or 275 Battery St., Ste. 940 San CA 94111) *I agree to allow the San Franciscoo Business Times and its affiliatedpaperxs (the Silicon Valley Business Journal) to make the information on this applicatiobn (not including any additional information found on financial statementss or tax returns) public. I understand that revenue numbers willbe published.
I also agree to allosw researchers from the San Francisco BusinessTimes (and the Silicoh Valley Business Journal) to contact me or my accountant to requestr financial statements to be verified by PricewaterhouseCoopers. ex. ex. John ex. A. (may be left blank) ex. Smith ex. Jr., M.D. (may be left ex. Marketing Coordinator ex. jsmith@acme.com Please checkl your answers before submittingthe Note: Form submission does not guarantee inclusiobn in the list. If you choose this you must select this link BEFORE you begih completingthe survey.

Wednesday, October 13, 2010

Engineering firm R.W. Beck sold - Puget Sound Business Journal (Seattle):

domnaofyvisyhojo.blogspot.com
Seattle-based R.W. Beck was founded in 1942 and employas550 consultants. According to PSBJ research, R.W. Beck is the Pugeyt Sound area’s 22nd largest engineering with 2008 gross revenue ofnearly $20 million. Science Applications International (NYSE: SAI) is based in San Diego, employs more than 45,00o people, and had revenue of $10.1 billiobn in the last fiscal year. Accordingv to SAIC, R.W. Beck will join the company’s logistics and product solutions “With the development and rehabilitation of many aspectsw ofour nation’s infrastructurew becoming increasingly critical, and the ongoingg threat of natural and man-made both SAIC and R. W.
Beck leadershi p believe that combining the capabilities of the two companies will produce results of significant benefit to our clientes andoverall business,” said Russ president and CEO of R.W. Beck, in a The deal is expected to closenext

Monday, October 11, 2010

No help to beat erosion threat - Tasmania Mercury

http://cyavp.com/page/4-Easy-Tips-for-You-to-Achieve-Those-Perfect-Smoky.html


No help to beat erosion threat

Tasmania Mercury


THE State Government has told residents of the North-West town of Hellyer Beach it can do nothing to save houses under threat from erosion. ...


Home owners told to get ready to leave if erosion worsens

ABC Online



 »

Sunday, October 10, 2010

Eddie Bauer declares bankruptcy - San Antonio Business Journal:

nadezhdaqedyxos.blogspot.com
had struggled with its debt a crisis that worsened as revenue part of an overall trend affectingv most retailers duringthe recession. The compan has lost nearly a half billion dollar s in the pastthree years. Those coupled with the impact of the recessiohn and debt payments apparently pushed the company into bankruptcyycourt — a move that was rumored for Eddie Bauer became the latest major retailefr to succumb to filing in bankruptcy cour this recession. The list also includews Linens ‘n Things, Circuit City and Northwest retailer , whicuh sold its assets to a liquidator in April and closes31 stores.
In many ways, Eddie Bauer’s crisis is not different from what most retailerw are facing during this prolonged anddeep recession, said Greg an Atlanta-based consultant for Conway MacKenziwe who works with financially stressedf retailers looking to restructure. Most retailers except discount storeslike Wal-Mart — have seen a fast drop-off in retail revenue acrossw the board, Charleston Many of the specialty retail department storexs have seen double-digit same-store sales declines, he said. “When revenu e drops and same-store sales drop, companies with less debt can weatherr a downturnmuch longer,” Charleston said.
“Iyt becomes an issue much sooner if you are intoliquiditgy issues.” As of May 11, Eddie Bauer reported havinv $289.5 million in outstanding debt, including $187.8 million in term loanas and $75 million in convertibles notes, which company executives have been tryin to persuade debt-holders to converr into shares of the company. According to a filing with the , Eddie Bauer had total assets of $525.22 millionj in April. The company liste total liabilitiesof $448.9 million. Eddie Bauer reported net lossesof $165.5 million in fiscal year 2008, part of a totalo of $478.7 million in losses durinyg the past three fiscal years.
In the firsrt quarter that endedin April, the company reported net lossed of 44.5 million. For the first quarter of fiscapyear 2009, which enderd April 4, Eddie Bauer reported a loss of $44.5 That was a greater loss than the firsf quarter of 2008, when the company reportedx a $19.3 million loss. Net sales for the first quarted of 2009were $179.8 million, compared with net salews of $213.2 million in the firstr quarter of 2008. The company said that combinedd comparable storesales — a barometer of success at the storer level — fell 11.3 percent for the firsrt quarter, a decline the company blamed on the recession and reducee retail spending.
Sales were down nearly 15 percent inEddise Bauer’s retail stores and sales through its directg channel were down nearly 11 percent. The outlet stores saw salea decline by nearly76 percent. “Th e first quarter was a difficult one, as the sharpp downturn in the economy took its toll on our We continued to focus on cost cutting and cash flow which helped mitigate the impact oflower sales,” said CEO Neil in a statement with the first-quartefr results filed with the SEC. Eddiw Bauer has 370 including 251 retail stores and 119 outlet stores in the Unitesd Statesand Canada. Eddie Bauere has 17 stores in Washington and 11 storesin (See a copy of the bankruptc filing .
) But by filingt for reorganization under Chapter 11 of the federal bankruptcy Eddie Bauer hopes to avoid the fate of Joe’ws Sports & Outdoor, whicyh filed for bankruptcy protect March 4. The Wilsonville, Ore.-basedr company had hoped to find a ButIn April, a bankruptcy judge approved the liquidation of the Joe’ s stores after the compang could not find a Joe’s had 31 Northwest stores — 10 of them in King and Pierce counties that held going-out-of-business sales after the company’ss assets were snapped up at bargaimn basement prices by , a liquidatoe that also sold off merchandise for Circui City.

Friday, October 8, 2010

Eric E. Schmidt Executive Profile

andreychukuze.blogspot.com
Prior to his appointment at Novell, Eric was chief technologty officer and corporate executive officer atSun Inc., where he led the development of Java, Sun's platform-independent programming technology, and defined Sun'a Internet software strategy. Before joining Sun in he was a member of the researcn staff at the Computer Sciencew Lab at Xerox Palo Alto ResearcyhCenter (PARC), and held positions at Bell Laboratoriesw and Zilog.
Eric has a bachelor's degree in electrical engineering fromPrinceton University, and a master's and in computer science from the University of California, In 2006, Eric was elected to the Nationalo Academy of Engineering, which recognized his work on "the development of strategie for the world's most successful Interneg search engine company." Eric was inducted into the Americajn Academy of Arts and Sciences as a Fellowa in 2007. He is also chairman of the boare of directors for the NewAmericas Foundation.
**All Executive profile data provided byDow

Thursday, October 7, 2010

Zito off roster for this series, source says - San Francisco Chronicle

http://sc-cottur.org/index.php?option=com_content&view=article&id=84&Itemid=64


USA Today


Zito off roster for this series, source says

San Francisco Chronicle


The Giants this morning will announce a Division Series roster that does not include pitcher Barry Zito, the team's highest-paid player, a source said ...


Braves, Giants ready to begin playoff journey

MLB.com


Purdy: Beware the West Coast Curse

San Jose Mercury News


Expensive Questions on Giants' Roster

New York Times (blog)


San Francisco Examiner -SFgiants.com -Tomahawk Take


 »

Tuesday, October 5, 2010

Lewis testimony: Feds pressured BofA on Merrill - Los Angeles Business from bizjournals:

http://www.psdesigning.com/archive/december/cool_3d_web_design.html
But some lawmakers questioned how much of the pressure was actuallhy made by Lewis in an attempt to secure more taxpayerf aid forhis bank. “Ther Treasury Department provided $20 billion for a shotgun But thequestion is, who was holdinb the shotgun?” Rep. Edolphus Townd (D-New York) said during the hearing. The hearing, conductedx by the House Committee on Oversight and Government was focused onfederal officials’ role in BofA’s purchasee of Merrill Lynch. Charlotte, N.C.-based BofA (NYSE:BAC) boughtg Merrill on Jan. 1 for $29.1 The deal resulted in BofA’s receiving an additional $20 billioj in federal funds under the Troubled AssetRelief Program.
BofA has received a total of $45 billion in TARP funds. Lewis has been under intense pressure from BofA shareholderss for not disclosing the depthof Merrill’s financiak difficulties before the merger. Merrill lost $15.2 billion in the fourth Lawmakers questioned Lewis on reports that he felt pressuredd byfederal authorities, including Federal Reserve Chairman Ben Bernanke and former Treasur y Secretary Henry Paulson, to go ahead with the deal in Decemberf as Merrill’s losses mounted. Lewis testified that BofA contacted officials atthe U.S. Treasury and Federal Reserve in mid-Decembe to inform them that thebank “had serious concerns about closing the transaction.
” he said, was considering declaring a “materiaol adverse change,” which can allow an acquirer to back out of a proposex deal. Lewis testified that Paulson toldhim BofA’d management “would or could” be removed if the bank backed out of the When lawmakers pressed him Thursday on the alleged threatds by regulators, Lewis said both parties were concernexd about making the best decisions for the healthb of the U.S. economy and BofA.
He explainee that a decision that would harm the economy would also harm BofA because of its massive size and Lewis testified thathe wasn’t intimidated by the threatt of losing his job but by the “seriousnesxs of the threat” and the ramificationse on the overall economy had an influence on his “Just six months later, it is easy to forge t just how close to the brinlk our system came,” Lewis said. “kI will never forget.” Still, some lawmakers suggestedc Lewis should have knownabout Merrill’s losses before They pointed out an e-maio in which Bernanke suggested threat to back out of the Merrill deal was a “bargaininbg chip.
” Lawmakers also pointed to other e-mails from regulators suggestinhg Lewis’ claims about surprisintg losses were “not credible.” Rep. Dennis Kucinicjh (D-Ohio), among others, suggested the e-mails indicated Lewisw threatened to call off the Merrill deal as a way to land moregovernmenty aid. “It’s quite possible it was Bank of Americq that put a gun to the head of the Kucinich said. BofA eventually closed the deal withMerrilkl Lynch, and received a $20 billion loan from the TARP fund to cove r the Merrill losses.
Also on Thursday, Lewix indicated that federal officials never asked him to withhold informatiom from shareholders that BofA thoughtg needed tobe disclosed. That caused lawmakers to remindx him he wasunderr oath. In February, Lewis testified befored New York Attorney General Andrew Cuomo that Bernanks and Paulson pressured the bank not to discusas its increasingly troubled plan to buy The congressional committee expects to call Paulsob and Bernanke for similar hearings as it continuesits

Monday, October 4, 2010

Md. colleges given $11M to combat nursing shortage - Sacramento Business Journal:

goldenayreyg1666.blogspot.com
The grants, being divvied among 17 Marylandnursinyg schools, will be used to lure faculth and students, and improve technology at the Maryland’s nursing shortage is expected to reach 10,000p by 2016, according to the . The currentt vacancy rate of nurses at statde hospitals is8 percent. The economicf downturn has helped the industry because many retired nurses have come back to but once the recession ends the shortagerwill worsen, said Carmela Coyle, CEO of the Maryland Hospital Association.
The first round of grantz will increase the number of nurses graduating by 300 students and add 20 facultyt positions at nursing programs acrossthe “The number of nurses graduating from Marylanfd schools are simply not enough,” said Ronald B. president of and co-chair of the “Whl Will Care?” campaign at a presz conference Monday. “We cannot take our eye off thenursinb demand.” The campaign’s goal is to add 1,500 new nursing students. The progran has raised $15.
5 million to date through the state’se business community, including fundsw from the Baltimore constructionform , , the region's larges hospital system, and , the region's largest health Greater Baltimore Medical for example, gave $500,000. The goal is to raiser $20 million from the private sector by the end of the and then raise anaddition $40 million in local and federal • • • • • • ; and, .

Saturday, October 2, 2010

Langley Speedway to host prestigious Legends Cars Nationals - Daily Press

grearqakususi1426.blogspot.com


Langley Speedway to host prestigious Legends Cars Nationals

Daily Press


They'll be racing for six national championships in the prestigious 19th Annual Legends Cars Nationals. And in one of those small vehicles you might just ...



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Friday, October 1, 2010

Innovator: Finalist - Business Courier of Cincinnati:

http://www.retro-cars.net/cat22.htm
These clinics organize care to assis in the transition of adolescents with disabilities to They represent only a handfulof adult-oriented centerz in the nation and the only multi-disciplinary clinicsz in the region that provide medical services and care coordination for individualds living with developmental disabilities. His clinics have received multiplwe awards including the Provider of the Year Award fromthe . In he established a regional network of providers and supporf personnel to create a medical home for patients living with sicklecell disease, work commended by the and the . Associate professor of medicine-pediatrics.
Organization: University of Nominator: Stephen Wilson, assistantr professor of medicine-pediatrics, University of Cincinnati. Quote: “Dr. Webb has championefd the cause of providing primary care services for individuals livingh with disabilities andchronic diseases.”