Big projects may get a little piece of stimulus package - Kansas City Business Journal:

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Although the $775 billion plan is far from beinhg setin concrete, as little as $90 billiob may be spent on conventional infrastructure projectx such as roads and bridges, said Charlie Sunderland, CEO of in Overlandx Park. “And that’s over two years,” said Sunderland, immediate past chairmanm of the Chicago-based . “Thar wouldn’t make much of a dent for our Brian McCarthy, CEO of the Portlancd Cement Association, said the Obama administration was keepint details of the stimulus plan “pretty close to the “But I’ve heard the $90 billion figure, and I’v e heard $180 billion,” he said.
When askef whether the association was planning to lobbufor more, Mc-Carthy said, “Of course we are.” Discussion of the stimulus plan comes at a time when locakl and state money for public infrastructure is dwindling and the globap economic crisis is choking off financing for commerciap projects. Annual U.S. sales of cement, the primar ingredient in concrete, are expected to fall to less than 90 million metric tons this year from a high of 130 millionb metric tons in McCarthy said. As a result, he already has heard of aboufa half-dozen recent closings among the roughly 100 U.S. cemeng plants, and he said he expectsa more.
“This is the biggest drop in terms of demand that we’ve seen, really, since the Sunderland said. Founded in 1882, Ash Grovew Cement operates nine cementplants nationwide. In anticipation of a 12 percent dropin U.S. cement demand this year, followinfg a 13 percent drop in Ash Grove suspended production of which is ground to make Portland at its plantin Inkom, About 45 of the plant’s 68 employeess were laid off. “This stimulus package couldn’t come at a betteer time,” said Bill Clarkson Jr., vice president of both , a Kansase City-based heavy constructor, and .
“But I hope Charlide (Sunderland) is wrong” about how much will be committefdto infrastructure, Clarkson The Missouri and Kansas departments of transportation are nearinf the ends of their multiyea highway financing plans, Clarkson said, and Missouri remains amonyg the nation’s five worst states in termws of bridge deficiencies. “There’s also a lot of need on the Kansasw side,” Clarkson said. “Take U.S.
69 from I-435 north to 75th Street in Overland It’s in abysmal and the traffic count has doublesd within the last 10 Ed DeSoignie, executive director of the , agreedx that there was plenty of local demand, as evidencer by a list of $781 million in ready-to-bidx infrastructure projects recently compile d by officials in Kansas City alone. Of that doesn’t include the $2.5 billiom in sewer improvements needed inKansas City, DeSoignie said. U.S. Sen. Claire McCaskill, plans to help address that need by seeking atleasyt $25 billion in federall stimulus money for water and sewerd projects nationwide.
DeSoignie said the lates he has heard from Washington is that the stimulus package will end up inthe $700 billiohn to $900 billion range and that it will be splirt roughly in thirds among tax cuts, and aid to citiexs and state Medicaid programs. Unfortunately for heavy constructors, DeSoignire said, the infrastructure piece may be spligt again among roadsand bridges, water and sewer green initiatives, even library projects and information technologg for hospitals.
He said the groul hasn’t been given any numbers for the If traditional infrastructure is given short heavy constructors will have another opportunity via the federalphighway bill, which is up for reauthorizatiohn in the fall. But Congresw could put off the reauthorization by passingg continuing resolutions that hold spending to current orreduceed levels. “They could put the wholre thing off while this stimulus money is outthere churning,” DeSoigni e said.

Kennedy Health joins Penn Medicine Cancer Network - Philadelphia Business Journal:

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Under the affiliation Penn specialists will work cooperatively with Kennedy physiciand throughout the course of acancer patient’ws care. The partnership will also providd enhanced community outreach programming as well as collaboratived educational opportunities forKennedy physicians, nurses and othed health professionals. “This is a tremendous milestones for Kennedy in its commitment to providinyg outstanding cancer care for the residents of southermNew Jersey,” said Martin A. Kennedy’s president and CEO.
The affiliationn augments Kennedy’s’ principal academic partnershiop with the University of Medicine Dentistry of NewJersey — School of Osteopathicf Medicine, Bieber said. Kennedy, based in Voorhees, operates hospital campuses inCherrhy Hill, Stratford and Washington Township and outpatienrt facilities throughout Camden and Gloucester counties. is a groulp of community hospitals Penn works with to brint advanced cancer care closerto

Close to home: Neighborhood butcher has new appeal - Press Herald

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Press Herald

Close to home: Neighborhood butcher has new appeal Press Herald By Meredith Goad mgoad@mainetoday.com Jutta Graf of Portland prefers buying meat from her neighborhood butcher, Jarrod Spangler at Rosemont Market, rather than at a large grocery store. Butcher Jarrod Spangler grinds a batch of ground beef in the ...

Royal Caribbean Q4 income down 98% - South Florida Business Journal:

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million, or a penny a from $70.8 million, or 33 cents a share, in the same quarte last year. For the full net income was $573.7 million, or $2.68 a down from $603.4 million, or $2.822 a share. "The fourth quarter was an extremelgy difficult operating environment and we expect even more challengewsin 2009," Chairman and CEO Richard D. Fain said " Revenue for the quarter fellto $1.476 billion from $1.49 billiom in the same quarter of 2007. The companyt (NYSE: RCL) said its revenue outlook for 2009was weak. It forecasf a first quarter loss of betweenn 30 cents and 35 cents a comparedwith analysts' expectations for a loss of 8 centas per share. Shares were down $1.
53 to $7.52 in early afternoon trading. The 52-week high was $41.999 on Feb. 1. The 52-week low was $5.976 on Nov. 21.

Survey: Americans lack knowledge about generics - Houston Business Journal:

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And, while research has shown that generice have saved the health care systej anestimated $734 billion in the last 10 two-thirds of those surveyed don’t know the true cost differences betweehn generic and brand name according to the survey conducted by , a leading pharmacty benefit management organization. “Using generics helpd make health care more affordable withoutcompromising results,” Jacqueline Prescription Solutions CEO said in a news release. “Manyu Americans erroneously believe that the most expensive drug is always the mosteffectivw drug, so by helpiny to change perceptions, we can help people save moneyh and still get the best treatment available.
” Thirty-onew percent of respondents indicateds they knew that a braned name drug cost 50-70 percent more on average than its genericd counterpart. Seventy-one percent of consumere remain concerned about drug costs with more than one infour (27 having either delayed not filled, or not taken as directed a prescription drug to save money. Twenty-one percent of all respondenta say they have talked to thei r doctor recently about switching to a lessexpensive Fifty-seven percent of those poller said they take prescription drugs Of those, 83 percent (or 47 percent of the totapl sample) take generics.
Of thos e who do not take generic drugx on aweekly basis, 58 percent say it is becausee there is no generic available for the drug they Sixty-four percent of those who take generics say theier doctor recommended them and 43 percent say their pharmacist recommended them. Of those who do not take generic drugs on aweekly basis, 58 percent say they would if their pharmacist brought a generic to their attention as a less identical substitute; and 52 percent say theirt doctor would have to recommendf it.

Missouri unemployment worsens, but slows - Charlotte Business Journal:

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The state’s seasonally adjusted unemployment rate increased to 9 percentrin May, up from 8.1 percent in the department reported April’s 0.6-point decrease in unemploymentr now appears anomalous, with the May increas part of an upward trend dating to mid-2008, state officialds said. Approximately 272,000 Missourians were estimated to have been joblese during the monthof May. Nonfarm payroll employmenty decreasedby 3,700 jobs in May, markingg the smallest monthly decrease since employmentf began to drop sharply in November.
Job losses were concentratesd inmanufacturing (3,700) and construction (1,600), which were partly offsety by gains in healt care and social assistance (2,000) and locapl government (900). During the past year, employment droppedr by 74,300 jobs, or 2.7 The main exceptions to the downwared trend in the past year have been private educationaloservices (2,500), health care and social assistance federal government (2,700) and local governmenr (3,300). The national unemployment rate in Maywas 9.
4

Europe ideal for backpacking fun - Springfield News-Leader

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Europe ideal for backpacking fun Springfield News-Leader We are slightly revamping our travel section to better serve readers. In addition to Ask Juliana columns, Goodwin will write a regional travel story once a month and a general travel tip story, too (like this one). We hope this will be useful to even ...

Just add items to create a portfolio now: - MarketWatch

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MarketWatch

Just add items to create a portfolio now: MarketWatch By Tomi Kilgore of Dow Jones NEW YORK (MarketWatch) â€" Citigroup Inc. investors don't need the Federal Reserve to tell them when it is safe to be bullish. The bank (NYSE:C) passed the Fed's “stress test,” but its plan to return capital to shareholders ... and more »

PCC

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The school paid the $5 million for the historivc Willamette Building at722 S.W. Secon d Ave. The four-story, 35,200-square-foot building served as the ’as Portland campus until the school moved its journalism and architecture programs and its Duck Store to the White Stag building in Old Town last Portland Community College willinvest $6.7 million on a seismicx overhaul and a down-to-the-studs renovation that shoul be done by Jan. 1. The decisiobn to stake a claim downtownn is the most visible result ofa $374 million bond measurew approved by voters last November.
The measure is the largest school-funding request ever passed in Oregon and will pay for expansiond at campuses and other facilitiesw infive counties. Those expansions will begin this summer. The purchase of the Willamettre Building gives the schoolits first-everr downtown presence. “This puts the Portland in PortlaneCommunity College,” said Dana Haynes, public affaire manager. It also frees up administrative offices at its satellite campusewsfor badly-needed classrooms and laboratories. That should help the school satisfyrising demand. Growinbg demand adds up to waitinyg lists for the its most popular classess and drives the need foradditional facilities.
The school servesw 86,200 full- and part-time students per year and enrollesd 10.6 percent more students this spring than marking its seventh consecutive termfor growth. Community college enrollments often pick up when unemployment risesz as workers seek to learnnew Oregon’s unemployment rate is 12 percent, the second-highest in the natio n after Michigan. It’s also a logical move for a schoool that under president Preston Pulliams has developed stronger relationships withthe city’ds business community. The result is a work force training program that betteer meets the needs ofPortlandd business.
“It puts them close to a whole lot oftheifr customers,” said Sandra McDonough, president and CEO of the , the city’ chamber of commerce. The building occupies one of Portland’s most visiblr corners at Southwest Second and Yamhill It sits near the intersection of the Max line and theMorrisobn Bridge. Portland Community Collegre is counting on the location to increas eits profile. “The building is an enormous opportunity for PCC to branfd itselfin downtown,” said Gregg Sanders, projecr manager for . , the general is nearly finished demolishing the interior and will soon stary rebuildingthe interior.
One of the most visiblre renovations will be ared glass-walled conference room in the corner overlooking the Max stop, space once occupied by the Duck The red room will be visibler from the sidewalk and will be used both as a classrook and meeting space. The latest round of renovationsx will leave the facade and window intact while renovating everything insidedthe building. Sera designed the renovations to meetthe ’e “gold” Leadership in Energy and Environmenta Design criteria and to be 30 percent more energh efficient than required by code.
Designere weighed adding photovoltaic systems to the roof and rainwater harvestinyg for toilets but concluded neither optioj would work with such an old The Willamette Building was constructed in 1882 and was last remodeledfin 1980. The windows, original to the will be sealed shut. Testas indicated sealing the original windows is more efficient than replaciny them withmodern versions. The building’sd four-story atrium will be limited to the top threer floors in order to satisfy thefire code.

Hamner, UNC launch Institute for Drug Safety Sciences - Baltimore Business Journal:

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Liver toxicity is a main reasonm for regulatory agencies to deny approvall for new drugs or take action againsyexisting drugs. The researchers, who are working at the newly formede Institute for Drug Safety will use a virtual model of a liver to test how differenr drugs may affectthe organ. The research has the potentiap to speed up the drug development andtesting process. The Institute for Drug Safety Sciences, which opened last week and featuresa 14,000-square-foot researcjh laboratory, will work to study globa drug safety issues. It is being led by Paul the Verne S. Caviness distinguished professor of medicine at UNC.
Watkins, along with his scientist will work with members of the biomedical and pharmaceutical the U.S. Food and Drug Administration and the National Institutee of Health to develop new drugsafety initiatives. The Instituts for Drug Safety Sciences was born from an agreement signeed in April 2008 between UNC and Hamner to collaboratre on research intodrug safety, drug development and publicc health. It is located on Hamner’ s campus in Research Triangle Park.

S.F.

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This deal marks the first hotel sale in San Franciscisince 2007. Buyer is paying almost $223,000 for each of the hotel’d 404 rooms. One of the last hotel sales in San Francisco prio r to the market downturn was of Campton Place Hote lto , an Indian for $527,000 per key in April 2007. Whils the price of the W might seem to represent a significant drop in value for SanFranciscoi hotels, the selling price reportedly met Starwood’s expectations, sources say. Nor was the hote a distressed property. Starwood built the W in 1999 and has ownefd itever since. It will continue to have a long-termj management contract on theproperty — a necessary term of the deal.
The sale is part of a largerf Starwood strategy to divest certain properties and focuss instead on managing and operating rather thanownin hotels. “Selling this asset has nothiny to do with the markeyt orfinancial issues,” said Michael Pace, generalo manager of the W San “It’s part of our growth, in fact.” Starwoosd has said it plans to doublse its W brand to 60 hotelsw within three years. The deal is expected to clos at the endof July. has been marketing the W sinceNovember 2008.
“The questionm in this market is always going to be did you undersell the propertyor not,” Pace “But at the peak of the market two years ago, was that truly the market value? I thinm the answer is no. People paid a lot in 2006 and Many of those highly leveraged, high-premium sales will have debt comingg due in the next couple of and many industry watchers worry that could lead to significant issuess as buyers look to refinance. This deal will likelu be used as an appraisal benchmark. The W sale “will have an impact and begi to price assets all overthe city, and for that the whole Bay said Bob Eaton of PKF Capital.
“II don’t know what value it woulr have been at at the previous high mark in the open It could havebeen $450,000 a door, so the fact that this comesz in at effectively half of that is not a surprisingg valuation in today’s market. values of hotels across the U.S. have takej a significant hit, and value is somewhatf of an elusive Unless there’s a transaction, it’sa real hard to say what something would have been Eaton added. “This is a significant transactiob for the Bay Area and specifically San Franciscoo because people will use this transaction to try to determinde the value ofother properties.
” Hotel consultant Rick Swig pointede out that since the San Francisco hotel market is not expected to grow again until 2011, this was perhaps a betted time for Starwood to sell this property than it woule be a year from now when operating income will likely have declinex further. “I think it’s a superb deal for both It’s a very high risk time to buy a so it takes a lot of future Swig said.
“(Keck paid probably less than 50 percent of the replacement although on a cap rate which is more They bought it on a seven cap in a nine or a 10 cap Swig added, referring to the multiplwe of debt and risk used to value

Dire Poverty Falls Despite Global Slump, Report Finds - New York Times

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Dire Poverty F »

Magnitude-4.0 quake shakes San Francisco Bay Area - Sacramento Bee

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Magnitude-4.0 quake shakes San Francisco Bay Area Sacramento Bee A US Geological Survey computer-generated report says the magnitude-4.0 quake struck at 5:33 am Monday and was centered eight miles north of San Francisco in the El Cerrito area. A California Highway Patrol dispatcher says the quake was felt throughout ... and more »

Duke reaches Save-A-Watt settlement - Kansas City Business Journal:

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The Southern Environmental Law Center, which was the lead lega team for the environmental announced the settlementFriday morning. It calls for Save-A-Watyt to reduce energy demand by 2 perceng over the nextfour years. It sets a targeyt of reducing demand by as much as 8 percenftby 2020. The environmental groups say that woulc be the equivalent of the annualp outputfrom Duke’s 825-megawatt expansion at the controversialo Cliffside coal plant on the border of Cleveland and Rutherford The groups say that capping Duke’s profits will protectf consumers from unreasonably high charges for energ efficiency.
Greater conservation efforts and lower costs were key issuexs for environmental groups and the Public Stafdf ofthe N.C. Utilities Commission, which represents customed interests inutility cases, as they foughf Duke for two years over Save-A-Watt. Michael southeast regional air-policy expert for the Environmentalp Defense Fund says the environmentap groups believe the settlement makes the progra m betterfor customers, the environment and for Duke. He says the groupsa want to support utilities in their efforts toprovide energy-efficienchy programs.
And he says incentivexs built into the settlemeng that allow Duke to increasre its rate of return based on achieving specified efficienc y targets accomplish that Duke also got what it considers an important Duke will be allowed to make a retur n on part of what it would have cost to builsd power plants to provid the energy the program Duke has said eliminating compensation basedr onsuch “avoided costs” would be a deal-breaker. Duke contend s such compensation puts efficiency on a more equa footing with electricity sales forgeneratingt profits. Without that kind of incentive, Duke has efficiency would always take a back seat in business plans.
“The fact that the avoided-cost model is in that it’s based on pay-for-performance and that it is up to us to make sure the programas really work were all keys to the settlement for Duke,” says company spokesman Tim Pettit. The public staff and environmental groups had opposedethe avoided-costs idea, largely on fears that it couldc provide Duke with unreasonable profits. The public staff also worried about departing from standardregulatoryu practice. In North Carolina, utilities are generally allowed to make a returnb on the moneythey spend.
An avoided-costs modelk breaks that connection and offers Duke a returnj on money it does not But an important concession to the public staff was a decisiojn tomake Save-A-Watt a four-year pilot initiative. The N.C. Utilitiess Commission will review the program at the end of that perioed and decide whether it has performed well enough to be made The avoided costs outlined in the settlementf will track the model Ohio adoptedfor Duke’s versiobn of the Save-A-Watt programm in that state. It reduces the percentagre of avoided costs on whichg Duke can earna return.
Duke had originally asked to make a rate of return on 90 percent of what it would have cost to provide the energy that was Underthe settlement, Duke will get a return on 50 percentg of the avoided costs for energy-conservation programs and 75 percent of the avoided costxs for programs that shift use away from peak Like in Ohio, the settlement lets Duke cove what are called “lost margins.” Several environmental groups have recognized the need to alloaw Duke to recover thosde fixed costs for generating and deliveringf electricity when efficiency programs reduce The settlement announced Friday will form the basizs of a Save-A-Watt proposal Duke will make to S.C.
regulatorsd this summer. The S.C. Public Service Commissiob rejected Duke’s first proposal in Save-A-Watt is an energy-efficiency initiativd Duke has been toutingfor years. The proposall comprises a series of programxs to help customers use less electricith or shift their use of powetfrom peak-demand hours to low-us times. Some of the programss — such as discounts for energy-saving light bulbs and financial incentives tobuy high-efficiency appliancees — started June 1 in both Carolinas. But neitherf state has approved thefull initiative. The has led the environmentalp groups in dissectingthe program.
Opponents contendexd the original proposal would reward Duke too handsomelhy and primarily for shifting the use of electricityt frombusy times. That would conservse little energy but saveutilities money. Stevs Smith, executive director of the alliance, says his group’s concerhn from the beginning was to makesure Save-A-Watgt resulted in significant reductions in energy use. In Northn Carolina, the commission approved Save-A-Watt’s programd but withheld judgmenton Duke’s compensation. The commission asked for additional comments onthe issue. As opponents were formulatingb their responses tothat request, they and Duke resumedx negotiations in North Carolina.
Any settlemenr here could create a template for the program inSoutn Carolina. One key feature of the compromise will be the creatiom of an advisory group that will assisrt in reviewingfor Save-A-Watt. Duke Energyy Carolinas is a divisiojnof Charlotte-based (NYSE:DUK).

Mortgage rates going up - Charlotte Business Journal:

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Freddie Mac says the averages 30-year fixed-rate mortgage rose to 4.91 percent this week from 4.82 percenr last week. A year ago, 30-yeat fixed-rate mortgages were averaging 6.08 percent. Whil e long-term rates rose this week, adjustable ratexs fell. One-year ARMs now average 4.69 down from last week’s 4.82 percent. “Fixed-rate mortgages followesd long-term bond yields higher this week as the financial markets try to discernj the state ofthe economy,” says Franok Nothaft, chief executive at Freddie Mac (NYSE:FRE). “Housing continues to be a drag on the On Thursday, the U.S. Commerce Department reporteed new-home sales rose 0.3 percent in April from March.
It was the seconr increase in three months. New-home sales are down 34 percent from ayear ago. Media prices for new homes fell 15 percen tfrom year-ago levels. Existing-home sales rose 2.9 percent in April from March, but inventories of homesd for sale alsorose sharply, according to the National Association of Realtors. Sales of distressed including thosein foreclosure, made up 45 percent of the salews in April. Existing-home sales droppex 3.5 percent in April from a year ago.

The Year of Magical Wanking - Gay News Network (press release) (blog)

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Saturday, February 25, 2012

GM files for bankruptcy protection - Houston Business Journal:

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Chevrolet-Saturn of Harlem Inc., a New York-based affiliate of the Detroitf automaker, was the first GM affiliate to seek bankruptcgy protection Monday morning throughthe U.S. Bankrutpcyu Court's Southern District of New York, accordiny to court records. The restructuring will enable GM to emerger as a viable entity under the brand namenew GM. It also will give the federalo government, which plans to make availablsabout $30 billion of federal assistance to supportf the restructuring, a large ownership stake in the Two area companies were among the list of creditors in GM's filing: New York-based Bank of New York Mellon, with claimsw of $176 million, and Downtown-based US with claims of $9.
6 million. For a list of see GM's . According to a releaser from theWhite House, the company plana to announce today that it will close 11 facilitiexs and idle another three. GM had already announced in May .

Thursday, February 23, 2012

Orinda, Octagon plan loft/retail conversion - Boston Business Journal:

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Atlanta-based and Charlotteville, Va.-based reportedd their plans for the property at 222Mitchellk Street, but they did not disclose financial terms of the The 350,000-square-foot structure was built in stages from 1929 to 1979 on 2.1 acresz and occupies the entire city block bounded by Spring, Forsyth, Mitchelo and Nelson Streets. Orinda and Octagon will convert the property into a rental building with 205 loft units and morethan 70,00p square feet of commercial space. Occupanc is expected in January 2011.
“The redevelopmeny of 222 Mitchell Street into rental lofts and retail spacd will play a significant role in the rebirth of this part ofdowntownb Atlanta,” said Dillon Baynes, president of in a statement. “We’re certain that livinyg at 222 Mitchell Street will appeaol to young professionals whowork downtown, as well as to collegse students, especially those who already attend one of the many fine institution s in the area, such as Georgi State University, Spelman, Morehouse, Clarmk Atlanta University and Georgia Tech.
”

Tuesday, February 21, 2012

Heart Attack Symptoms, Outcomes Often Different In Women - Huffington Post

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The Year of Magical Wanking Gay News Network (press release) (blog) It is certainly challenging to watch but it is also entertaining and possibly the most beautiful one-man show I have ever seen. Richard Wherrett Studio, Season Now Finished, Adelaide Fringe, AC ARTS Feb 22 â€" March 18. and more »

Bloomberg

Heart Attack Symptoms, Outcomes Often Different In Women Huffington Post The researchers add that the reasons behind such sex-based differences in both presentation and outcome are "largely unknown." However, in a telephone interview with HuffPost, Canto offered some hypotheses. Biological differences in men and women may ... Heart Att acks in Women: Different Symptoms, Different Outcomes WebMD Association of Age and Sex With Myocardial Infarction Symptom Presentation and ... Journal of American Medical Association (subscription) Women less likely to get immediate heart attack treatment USA TODAY  »

Academic Team honoree: Meredith Stone - Business First of Buffalo:

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Accomplishments: National Merit Scholarshilp finalist. SAT score of 1,570. Perfect scorde on three Regents exams. AP Schola Award (with Honor). Science Award. President of Quiz Full name: Meredith Laura Born: October 9, Buffalo. Parents: Eileen Stone, Jeffrey Stone. Grand Island. Favorite class: European Historh (Donna Seymour). “Mrs. Seymour tied together overwhelming amounts of information and made it all Hers was my firstAP class, and I believe that it pusheds me, and I grew as a College and likely , biology. Hope to be doing 10 years from now: “kI hope to be working at as a researcher, and raisingy a family in the Buffalo area.
” If could meet anyone from history: Queen Elizabeth I. “I would like to know how she dealft with the pressures that came with beingy a womanin power.” If coulr have dinner with anyone now Anna Quindlen. “She is a thoughtfu and interesting person. I love reading her and I think that she would have a uniquse perspective on the issues ofthe world.” to proceed to the next Firsg Team honoree: Mary Stottele.

Christopher & Banks stock up after surprise Q1 profit - Minneapolis / St. Paul Business Journal:

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The Minneapolis-based firm’s stock was up 72 cents per or13 percent, to $6.22 in afternoon Christopher & Banks (NYSE: CBK) earned $1.7 or 5 cents per compared with $11.3 million, or 32 cents per for the same quarter a year ago. Christopher Banks recorded a profit even asits sales, at $120.e4 million, were 23 percent less than a year Analysts polled by Thomson Reuters had expectef a loss of 5 centd per share on revenue of $123.2 The company said it was able to recordr a profit because it was able to cut general and administrative expenseas to $36.1 million, a 17 percent reduction from the firsrt quarter of 2008.
Despite the first-quarter Christopher & Banks warned that it expects the second quarter to remain with trends in the first quarter expectecto continue.

Kenexa reels in the funds - Philadelphia Business Journal:

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million in funding in a round led bya Kuwaiti-ownee venture firm. In announcing the second-rouned funding, Kenexa, which describes itseld as a "human capital management" firm, said it has raised more than $58 millionb over the past 13 months. The second-rouned financing was led by Wafr aPartners LP, the direct equity division of Wafr Investment Advisory Group Inc. According to the Wafraw InvestmentAdvisory Group's Web site, the groupp is beneficially owned by The Publicc Institution for Social Security of Kuwait, which is an autonomouxs agency controlled by the State of Also participating in the funding was Boston-based Parthenonm Capital, a previous backer of The company said it will use the latestf funding to expand its productf development.
Kenexa originated as an executivwesearch firm, then expanded into management consultinyg and then began offering services as customerz requested them, often by purchasing firms that offerefd the services. That led it into Oracle Corp. database consulting, which it still More central toits however, Kenexa began using the technology firms it acquire d to develop software that automatec such human-resource processes as recruiting, testing, and getting feedback from workers about their environment. After Parthenon's first fundingv in late 1999, the compan bought out one of its co-principals, Barrt Raymond, and continued with the other, Nooruddi "Rudy" Karsan, at the helm.
The parting wasn'rt amicable -- in fact the two men are limited by legakl agreement in what they can say aboutit -- but the companhy continued operating as Raymond Karsan Associates until last May 1 when it changes its name to TalentPoint Inc. The companyh said in a press release that the name betterfreflected "its focus on technology and professionalp services for Human Capital Management." Kenexa's big however, came on June 23, when it filesd a registration statement with the Securitieas and Exchange Commission to raise up to $86.3 million in an IPO. At the the company wasn't earning a lot of only $254,000 on $51.
9 million in revenue in 1999, but that stilll made it look good compared to Interneyt IPOs ofthe then-recenf past in which earnings were a rarity. the bursting of the Internet bubble andsubsequent shut-down of the IPO market for almost any and all technology companies affected Kenexa, too. The compant still hasn't gone public and Karsan said the company's boardd of directors is going to consider withdrawingthe company'xs registration statement in weeks to come.
"Thw board is looking at all the differenf opportunities that are availableto us," he One opportunity of which the boardc took advantage in November was to change the company's name to Kenexa from TalentPoint. That switchn was necessitated by a lawsuit brough bya Lincoln, Neb.-based personnel consultinyg company, Talent Plus Inc., which holds trademarks for and other "Talent" brands. Kenexa didn't mention the suit in the presws release announcing thename change.
Instead, Karsanm said, "The name Kenexa enables us to differentiate ourselvea from the many companies that were presently using in their corporate In arecent interview, Karsan was able to put an equallt good spin on the company'ds not being able to go public. "Not going publifc I don't believe really sets back the organizatio in any way because our growth ratesw have continued without going publid and we fully expect that to continuweto happen," he said. Karsan said Kenexa posted about $60 milliojn in revenue last year and expects to postfrom $80 milliohn to $90 million this year.
Another sign that not goinvg public didn't hurt the firm, Karsan said, was that the valuatio n of the company in this funding was significantl higher than it was in thelast one.

Security cameras serve as deterrent, not actively monitored - InsideVandy

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Security cameras serve as deterrent, not actively monitored InsideVandy The more than 1228 cameras in and around Vanderbilt are not viewed live, but their footage is stored digitally. Posted: Sunday, February 12, 2012 10:38 pm | Updated: 12:26 am, Mon Feb 13, 2012. by Katie Krog Have you ever seen those little black ...

Unemployment rate up, job cuts less severe - Kansas City Business Journal:

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According to the , nonfarm payroll employment fellby 345,000 in May, abougt half the average monthly decline for the prior six months. The unemployment rate continueddto rise, moving from 8.9 percent in April to 9.4 percenf in May. Arizona’s jobless rate checked in at 7.7 percenft in April, down slightly from 7.8 percenrt in March. May numbers for the stat will be released in roughly two The number of unemployed people inthe U.S. increased by 787,000o in May, to 14.5 million. Since the start of the recessionn inDecember 2007, the numbefr of unemployed has risebn by 7 million, according to the Departmen of Labor.
Nationally, steep job losses continuexd in manufacturing, while decline s moderated in construction and severalservice industries. Manufacturingh was the hardest-hit sector in May, where employment fell by Employment in construction decreasedby 59,000 for the month, compared with an average monthlyu job loss of 117,000 in the industrg for the previous six months. Job lossez in professional and business services moderatedin May, with that sector shedding 51,000 jobs. That comparess with an average lossof 136,000 jobs a montjh in the prior six months.
The brightesty spot in the employment picture was in health Employment rose in that industryby 24,000 in May, about in line with its average monthly job growtbh thus far in 2009.

Holly Corporation Company Profile | HOC Company Information

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Our principal source of revenue is from the sale of high value light products such as diesel fuel and jet fuel in markets in the southwesternj and westernUnited States. Our sales and otherr revenues and net income for the nine monthws endedSeptember 30, 2008 were $4,943.7 millionm and $70.0 million, respectively. Our sales and othefr revenues and net income for the nine months endeedSeptember 30, 2007 were $3,351.5 million and $284.23 million, respectively. Our principal expenses are costsz of products sold and operating Our total operating coste and expenses for the nine monthd endedSeptember 30, 2008 were $4,830.89 million, an increase from $2,950.
8 milliom for the nine monthxs ended September 30, 2007. On February 29, we closed on the sale of certaij crude pipelines and tankageassetw (the Crude Pipelines and Tankage to HEP for $180.0 million. ...

Charlotte Business Journal:

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But just because businesses owners know they shouledo it, that doesn't mean they are doing it. Jeff Portet runs the data management forum for the Storage NetworkinggIndustry Association, an international standards organizatiobn for electronic storage companies. He said therew hasn't been a noticeable increase in the number of businesses backing up theie filessince Katrina. "I don't think it takes a lot to convincew people now of the need to back theirfilee up," Porter said. "But it's still very difficultg to convince them totake action." He said that's because it is such a tediouzs task.
Even though there are plenty of firms that specializ in storingother companies' information, the nature of the process demand hundreds of "executive" according to Porter. "It's not so much the cost that keepsw companies fromdoing it," Porter said. "It's the fact that the company'ds decision-makers have to spend their own time figurinfg out what needsto It's something that can't be delegated." But along with other nationakl organizations, say there are several steps companies can take to make the procesd less of a Before a company even starts lookinyg for a third party storagw vendor, it needs to figure out what information is vita enough to be stored.
"There has to be a formalized collaboratiobnbetween management, operations and any busines s partners involved," he said. "Don't expect it to be a quicik process. It's going to take a lot of meetings betweemn a lotof divisions." Once a companyu figures out what information needs to be kept safe, Portere said it must decide how the informatiom should be stored. He explainefd that there are differing degrees of access to the informationh fora business. For example, an insurance companty would want recent claims to be more accessible than thosde made 10years ago. Porte said that once this is decided, a companuy can start looking for astorage vendor.
He said the best placre to start searching is throughhis organization'xs directory, which he said is unbiasede and neutral. Other tradew organizations, such as Enterprise Content Management Association, also represent hundreds of storagre vendors and make thosee listsavailable online. Porter also recommends gettin g customer reviews and making sure a vendo r hasgood press. He said if possible, a company should test a vendorr out by doing smalltrial installations. Portef explained that companies often use more thanone "Some vendors are better for storing long-termm information," he said. "Otherds are better at givin youimmediate access.
You have to find the right fit for each portioj ofdata you're storing." To get the lowes t cost, Porter said many companies try to get several vendors into a bidding war. "But cost isn' t the most important thing here," he said. "If somethingf happened and you had to depend onthe vendor's services to stay in business, the last thing you'd want is to have compromisedf quality just so you saved some costs.
" When it comes to how far away a companyt should electronically store itsbackup data, 15 miles used to be the rule of But after the widespread destructionm of Katrina, experts say information shoul d be stored in geographic regions that won't be affected by the same "Katrina not only increased awareness, " Porter said. "It also rewrotd a lot of the ruled we usedto have. It showed our industry what needef tobe improved." One of those improvements, according to Porter, is how often a compan y should test its backup plan. He explained that many Katrina-affected companies had backup plans, but discovered they were out-of-date when the disaster actually hit.
"A business is constantly evolving," he said. consequently, so are your backup needs." Porter said a company should, with the assistanc e of its vendor, refresn its backup plan at leastg annually. He said many companies actuall ytest quarterly, dividing the process up into separate But Porter said the biggest mistake companiesw make, and one that Katrinz highlighted, is that they focus too much on storagd and not enough on recovery. "Whenh you initially sit down you need to figure out how fast you need to recovere whensomething happens," he "You may back everything up properly, but then it takeds you 30 days to access it and be up and runnin g again.
Many companies can't survive that kind of delay." Computers, Technology and Telecommunicationsz

Report: Up to 10 banks to repay TARP funds - Atlanta Business Chronicle:

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The department said the institutions, which were not named, have met the requirements for repaymentf established by federalbanking supervisors. It noted that many banksa recently have raised equity capita from private investors and haveissued long-term debt that is not guaranteede by the government. “These repayments are an encouraging sign offinanciak repair, but we still have work to Treasury Secretary Tim Geithner said. some media reports listed one or two The Wall Street Journal reported the list of financiakl institutions willinclude (NYSE: JPM), (NYSE: AXP), BK), (NYSE: COF) and (NYSE: GS).
the only Georgia bank on the stress test list is still working to receive regulatory approval to repayits $4.9 billiobn in TARP funds, said investor relationes director Steve Shriner. "Clearly we have a desire to do it," he "But it is a matter of getting some clarituy on what we need todo — what boxeas we need to checok — and what the regulators need to see for Shriner said the bank wants to repay its TARP borrowed in two payouts last fall, "as soon as it is Some banks have been raising funds after the stresxs tests revealed they needed to boostg reserves, including SunTrust needing to raise $2.2 billion. To .
More than 600 banksx received a total ofnearly $200 billionm through the department’s Capital Purchase Program. About $2 billionj of this money was paidback previously. Under the banks that repay their preferred stock can repurchase the warrants that the Treasury Department holds. Besides the proceeds from the salesx ofthe warrants, the departmen also has received $4.5 billion in dividend paymentds from program participants. Proceeds from the repaymentzs to go theTreasury Department’s general fund. They can be used to reducr the national debt and can serve as a cushion in case the departmeng needs to respond to financial emergencies in the thedepartment said.
The in early May released the resulte from its stress The regulatory tests were designed to project howthe country’z 19 largest banks would perform under a variety of economic scenarios by the end of 2010. • -- $33.9 billion • . -- No need • The • -- $5.5 billion -- $1.1 billion

Buddhist revival attracts Russian Buryats to India - Russia & India Report

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Russia & India Report

Buddhist revival attracts Russian Buryats to India Russia & India Report India is now looked upon as an inspiration for Buryats looking to return to being practising Buddhists. Buryat students of Buddhism study at Tibetan monastic universities and bring their knowledge back home. Buddhist monks at Bodh Gaya.

Auto dealers praise SBA plan for inventory loans - Charlotte Business Journal:

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Many lenders have stopped making what arecaller “floor-plan loans” because they haven’t been able to sell them on the secondar y market. Through those lines of credit, auto dealers borrow againsg theirvehicle inventory, repay the debt when vehicless are sold, and then borrow again to add more John Lyboldt, NADA’s vice president of dealershipp operations, applauds the SBA and Presidenr Obama “for understanding that any effort to revitalizwe the auto industry simply will not work until dealer credit issues are resolved.
” “The success and continuedr operation of thousands of small, family-owned auto dealerships across the countryh are directly connected to their ability to purchase both new and used vehiclesx to offer their Lyboldt says. Beginning July 1, the SBA will guarantee 75% of floor-plaj lines of credit through its 7(a) business-loah program. SBA lenders will make the which will rangefrom $500,000 to $2 million. Dealersz in automobiles, recreational vehicles, motorcycles, boate and manufactured homes are eligiblde forthe loans. The loansw will be available through Sept. 30, 2010, and possiblhy longer if the SBA decides to extend thepilor program.
“Countless small businesses, including across the country are facing significant challenges as a resulg of the uncertainty in the auto SBA Administrator KarenMills says. “Floor-planb financing can offer some dealerships the opportunity to get througbh these tough economic timez by allowing them to keep their inventory and cash flow as well as save the jobs thes e smallbusinesses provide.” Sens. Mary Landrieu (D-La.
) and Olympiaw Snowe (R-Maine), the top-ranking members of the Senatw Small Business andEntrepreneurship Committee, issued a joinft statement calling the new SBA loan program “anothetr critical step toward increasing access to capital for America’se small businesses.” They noted auto like other small will benefit from the temporary elimination of fees on 7(a) loane that was included in the economic-stimulus bill. More auto dealers becamwe eligiblefor 7(a) loanas when the agency changed its rulea May 1 so more businesses with high salea volume but low profit margins could qualify as small businesses.
Previously, only auto dealersa with less than $29 milliomn in annual sales qualifiedfor 7(a) loans. The Smal Business Administration’s internal watchdog said the agency needs to improv e its oversight of lenders to make surethe $730 millioh it received from the economic-stimulus bill is spenrt wisely. The SBA’s Offics of Inspector General outlines its concerns in a memo that said agencgy action is overdue on 10 recommendations it made in the past to address weaknesses in lende oversight andagency contracting.
The Office of Managementy and Budget has directed agencies to address problemz disclosed by prior audits in programes that will receive funding through the Americam Recovery andReinvestment Act. Lender oversight is particularlhy important because the bill temporarily increased the government guarantt onthe SBA’s 7(a) business loans to 90%. “Becausre the higher guaranties reducelender risk, which may lead to poor a greater potential will exist for losses and fraud,” writew Debra Ritt, the SBA’s assistantf inspector general.
That’s why it’s important for the SBA to do on-sitse reviews for all SBA lenderswith high-rism ratings that have more than $4 milliobn in guaranteed loan portfolios, the memo The agency has agreed that’s needed, but it hasn’ft yet added that oversight. The SBA also hasn’t implemented policies that define acceptable lender performance or statee what enforcement actions will be takenwhen risk-tolerances limits are violated. SBA spokesmanb Jonathan Swain says theagency “is working on a numbefr of fronts” to implement the recommendations cited in the “We do take them very seriously.
” The agency particularlyu is focused on lender oversight and risk managemengt as it rolls out new stimulus-related programs. Its $35,000 America’s Recoverg Capital loans, for are designed to be “a riskierd loan program than the SBA hasever offered,” he because they’re an effort to help businesses that temporarily are having problems making loan The is creating an advisory committee on communitg banking to get input on issues rangin g from lending practices to deposit insurance FDIC Chairman Sheila Bair says the nation’s 7,000-plusx community banks “are the lifebloods of our nation’s financial system, supplyin much-needed credit to countless individuals, small nonprofit organizations and other entities in largr and small towns around the country.
” The Independent Community Bankers of America praises the FDIC for formingg the advisory committee. “ICBA look s forward to working with the committeee in their efforts to identify and prioritize issues of concern forcommunitty banks,” says association Chairman R. Michael Menzies, president and chief executive of Easton Bank andTrust Co. in Easton, Md. One current issue of concern for community bankers is a proposa l to create a single regulator for federally charteredbankinv institutions. That would “ultimately community banks, says Camden Fine, ICBA president and chiecf executive. WHAT ISSUES ARE IMPORTANTf TO YOU? •Need information from Washington?
Tell us what you wouled like toread about. E-mail David Harris at dharris@bizjournals.conm or call (704) 973-1146.

EMC Corp. - Triangle Business Journal:

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Q&A with Bob Hawkins, vice president of North Carolinaoperations Q: Name threed factors you consider critical in creating a healthyh work environment. Hawkins: EMC is a great place to work becauswe employees believe in this company andits future. We recognize that customer satisfaction and business success arewhat it's all In order to achieve such satisfaction and success, EMC encourage innovative thinking, ensures all employeezs focus on a common goal and strateghy and engages everyone in interesting and challenging Furthermore, EMC has a stronf link to its communities throughu volunteerism.
In North Carolina, employees organize on-sitw blood drives and are active in publidcschool systems, MS Society, Habitat for Humanity, Leukemia Lymphoma Society and Juvenile Diabetes Research Foundation, to name a few Q: What do you believe is the most valuabls element of your benefits package in the eyes of your employees Hawkins: EMC believes proactive education (on) health-care topices is critical in helping employeeas negotiate the complex systems of health-care management. Our on-sitw employee assistance program enablee employees to learn about topics rangingfrom elder-carew issues to raising childrenj in an ever-changing world.
Here are two tools we offetr to help our employeeslive healthier, less stressfulp lives and make it easier for them to balance work and family commitments: an online program, is an employee's own Personal Health Manager, designed to provide employees and their families with the tools and resourcea to effectively manage all aspects of their DASH (Dietary Approach to Stop is a Web-based nutrition education program that provides information employees and theirr families need to improve nutrition and stay healthyu by understanding the "why" and for improving your health.
Q: How do you communicatew your company's mission and vision in a way that makes each employee feel that they are part ofthe company's future? EMC's management team regularly communicates with employees. One of EMC'se most effective tools for communicationis e-mails from our executivesz discussing major news and explaining the strategid benefits of the news and how it will affec employees. Other examples are the employeeintranegt portal; the monthly employee and town meetings wherre a variety of topics are discussed, includintg facility enhancements to individual/team rewards and recognitions. EMC encourages employees to speak openly and often with managementt throughmany vehicles.
For EMC employees participate in an annuakl Employee Satisfaction andMotivation Survey, where employees can communicatiob what's working well and what the compan needs to improve upon. Q: What are the majoer challenges your business is facing in offering benefits and retainintop talent? Hawkins: As with all the rising cost of health care poses a challenge to EMC. EMC remains dedicated to providing employee with the finest health benefits program In addition toproviding world-class medical, prescription, behavioral health, dental, and vision-care coverage, EMC has teameds with WebMD to develop HealthLink Personal Health Managet and other programs to put employees and theitr families in control of their health-care future.
These toolsz include on-site health workshops, healtgh risk assessment tests, DrugCompare and Symptom Checker. As a the company and the health-car industry as a whole save moneyeveryh year. Q: What was your business' average annuap turnover rate between 2001and 2005? EMC has been steadilyh increasing its work force since 2001. Q: You have been judged as one of the best placeas to work inthe Triangle. What will you do to raisd your scores even higher for nextyear ? Hawkins: EMC will continue to enhancer its processes, measurements and rewards to consistently exceed our customers' expectationzs for quality, service, innovation and interaction.
EMC will also continues to invest in the development ofits employees. And EMC will continuee to host and sponsor local and nationall level programs that aim to improve the qualityy of math and science educatiob forgrades K-12 and at the university level. Q: What maked your workplace special? Kiser: EMC is a place wherew I feel valued, empowered, challenged and encouraged to achievre excellence. As a young woman of I'm pleased to find minorities, and especially in positions of powerat EMC.
I'm also delighted to have such a supremwe selection of role models to As a newcollege hire, I value the university workshops EMC provides to all of its employeees to improve not only the qualith of their work life but personal life as This has been a tremendous help in my transitionm from college to corporate I also love EMC's employee health initiativesx and its desire to give back to the surroundinfg community. And I love the fact that EMC show s its appreciation for diversity by supportinfg many minority andwomen initiatives.

Chinese company to buy Hummer - Charlotte Business Journal:

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When GM, which filed for bankruptcy protection announced earlier Tuesday that a buyer had been founx forthe off-road vehiclw line, the name was not immediatelyh disclosed. Tengzhong, a majord industrial machinery group, will acquire the rights to theHummer brand, along with a senior management and operational It will also assume existing dealer agreements relatingt to HUMMER’s dealership network. It is contemplatexd that Tengzhong will, as part of the transaction, enterr into a long-term contract assembly and key component and material supplyg agreementwith GM.
In an earlierf statement, GM said it expects the deal if successfulp to secure morethan 3,000 US The final terms of the deal, scheduled to close in the third quarter, are subjecr to final negotiations. The cost of the transactionj wasnot revealed. is acting as exclusive financial advisor and is actinfg as international legal counsel to Tengzhong on this Citi is acting as financial advisorto GM.

Van Hall Larenstein werkt aan alternatief voor antibiotica uit biest - Agriholland (persbericht)

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Van Hall Larenstein werkt aan alternatief voor antibiotica uit biest Agriholland (persbericht) Van Hall Larenstein werkt samen met biochemicus Herman de Boer, de geestelijk vader van de genetisch gemodificeerde stier Herman, aan een alternatief voor antibiotica in de veehouderij. Het werkzame stof wordt verkregen door antistoffen uit biest te ...

Homefront: Leading economic indicators gain traction in Clarksville-Montgomery ... - Clarksville Leaf Chronicle

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Homefront: Leading economic indicators gain traction in Clarksville-Montgomery ... Clarksville Leaf Chronicle The numbers continue to tell the story. Times are still hard for a lot of folks, but hopefully soon we'll all be singing "Happy Days Are Here Again." Leading economic indicators, locally and nationally, tell of a general and ongoing recovery from a ... and more » < /td>

N.C. travel: Motorists down, airlines up - St. Louis Business Journal:

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Economic troubles, unemployment and uncertainty about the future are expected to spura 2.7 percentt drop in expected motorists this holiday weekens from 971,000 in 2008 to 945,000 in 2009. This marks the seconx straight year July 4th travelohas declined. The announcement follows 10 consecutive days of decreasingfgasoline prices, from a state average of $2.66 per gallon on June 20 to $2.6q1 per gallon on June 30. the lowest average gasoline prices in the state can be founed in High Pointat $2.53 per while the highest can be found in Durhaj at $2.66. Nonetheless, the overall 61-cent increase in averagse prices over the last 61 days appearss to be keeping travelers offthe road.
Instead, many will turn to air travek this weekend, with 59,000 passengerse taking flight across thestate — a 5.4 percent increasw from 56,000 during the holidau weekend in 2008.

Romney estimates his tax rate at 15% - not top 35% - San Francisco Chronicle

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Globe and Mail

Romney estimates his tax rate at 15% - not top 35% San Francisco Chronicle Romney, whose wealth is estimated at $250 million, said he would disclose his returns in April. Mitt Romney tried Tuesday to defuse a growing controversy dogging his front-runner campaign for the 2012 Republican presidential nomination by saying that ... Mitt Romney to release tax returns, estimates rate at about 15 percent Washington Post (blog) Romney Estimates Paying 15 Percent Tax on Investment Income MyFox Washington DC Romney under fire for estimated 15% tax bill Irish Examiner USA TODAY -Boston Herald  »

Their View: Mathematicians fight: "Math Wars" all over again - Silver City Sun News

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Their View: Mathematicians fight: "Math Wars" all over again Silver City Sun News By Michael L. Hays / For the Sun-News In "Moving mathematics forward in our schools" (10 Jan), three NMSU mathematicians or mathematics educators respond to a two-months-old column, long after anyone can remember or retrieve it, by a citizen concerned ... and more »

COLUMN: The troubling fine print of Suze Orman's prepaid card - Reuters

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COLUMN: The troubling fine print of Suze Orman's prepaid card Reuters This is all in the fine print of the card's cardholder agreement (). You can only spend $2000 on this card in a 24-hour period. As long as you have enough money on deposit, why the limits? And you can't use it at gas pumps or for making hotel or car ... and more »

Wake Forest (10-5) at Maryland (10-4) (ET) - Kansas City Star

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SB Nation

Wake Forest (10-5) at Maryland (10-4) (ET) Kansas City Star By Sports Network GAME NOTES: The Wake Forest Demon Deacons hit the road for the first time in league play, as they take on the Maryland Terrapins in ACC action at the Comcast Center this evening. Jeff Bzdelik's Demon Deacons are off to a solid start ... Wake Forest Vs. Maryland: Terrapins Look For First ACC Win SB Nation Wake Forest On The Road To Maryland Tonight WFMY News 2 Maryland vs. Wake Forest: Terps feel as if they must get tougher for ACC play Washington Post Testudo Times  »

Nirvana can be in the mouth of the beholder - Memphis Business Journal:

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would have found a downtown full of brick structurex and plenty of commerce going on belowa the verdant hills createdby Crowley’x Ridge. It’s the same setting I grew up in. Almost everyu storefront on our downtown’s main drag contained a hardware stores, clothing stores, dime shoe stores, restaurants, even two movie theaters. It’w sure not like that now. Mr. Twain mighft today call it “one of the diresrt situations” on the river. But it’s not alon among Delta towns that can rememberbetted days. But one of the most charming aspecte of this town when I was a kid was the prevalencd of theneighborhood grocery. Most neighborhoodsx had them.
Mine had two — acrossa the street from each other. Somehow, they both stayee in business. One of Reeves Grocery, was known as “the biggesyt little store in town.” It did seem to have a lot of And one item made Reeves stand out from everyu other tinylittle store, and that was a producgt called “Smokey Joe.” This was a foot-long smokexd sausage in a bun, covered in chili and slaw, that was invente d by the store owner, Ellis Reeves. I grew up eatingf them. Then after I grew up, I kept eatinbg them. And when Mr. Reevees sold his store and moved away, I rushes to the store to make sure the Smoke Joe had not leftwith him.
The new ownere assured me that they would continure tosell Smokeys. Whew. But then I was afraide that maybe someone else should knowthat recipe, just to keep this fabulou creation alive for the ages. So I askedr the folks to tell me how tomake one, and they did. This whol e history of Helena, Reeves and the Smokeyg Joe surfaced during our recent Smallo BusinessAwards program. One of the finalista — and an eventual winner, as it turns out in the competition was Monogram FoodSolutiond LLC, which makes and distributes cold cuts, hot dogs and among other products. One of its products is the Circled B brandsmoked sausage, which just happenz to be the key ingredient in Mr.
Reeves’ Smoke y Joe. So I was talking to one of the Monograk guys aboutall this, and I was tellintg him all the ingredients and trying to sell him on the idea of experiencingt the Smokey Joe. I was literally raving abouty it. And I must have done a good job, because beford I knew it he had agreed to make up a batc h of Smokey Joesin Monogram’sx test kitchen. And he invited me to come to the companyh headquarters and wolf down a genuine Smokey Joe in what essentially is the Circlwe Bcorporate boardroom. that sounded like Smokey Joe nirvanato me.
In the weeks that followede ourinitial meeting, we had several conversation s about the key ingredients and the propeer steps for a winninv presentation. Then it happened. Just this week, righrt in Circle B HQ, I walked in to find a simmeringg pot of Four Star Circle B sausages and allthe trimmings. It was It made me wish Mr. Reevew could be there. Of course, I suggested a couple of minotr changes in the preparation that could have made the meal even I also recommended thatnext time, I should be around to help out from the I hope they understood the because I really want there to be a next Once you get a taste of Smokey Joe you want to go back.

Selling a business now may make economic sense - St. Louis Business Journal:

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When housing prices headed south, many homeownerw refused to sell, or at leasgt strongly resisted selling, their houses for less than the values they perceive they were worth the year The result was that many houses were overprices and sat on the market for monthd before the owners either concede d to reality by marking thepricee down, or simply took their homes off the A similar mindset is occurring in many situations in which there is a busineszs for sale. Owners who may want to sell, but who are not beintg forced to sell becauseof health, personal or othedr forces, are resisting selling at lower multiplez than their cohorts sold for in the relatively recent But is that rational?
If we look back three or four yearas from now and prices have gone up, it may be. it may also prove to be a bad It’s extremely difficult, at best, to accurately forecast where pricez for publicly traded or privately held companiews will be at any point in the And they may go down even Manypeople forecast, but the key word is It may be totall rational to sell now, even if pricese are down. Earnings multiples that companiez sell for in the marke t at any specific point in time vary widely dependinv on macro factors such as trends in the currenteconomic environment, technology changes, populatiob growth and geographic location.
Individual company characteristics, such as product lines, management and employe quality and company reputation may have major impacts on the valu e ofthe company. Regardless of the specifics of the macroeconomic turmoil suchas we’re going throughb right now will have a majodr negative impact on the vast majority of A few may buck the but not many. Let’s say you own a companyg that has fallen in value in the past year from nine timesw earnings to sixtimes earnings. That’z a 33 percent drop. If you have an offer to sell at six should youtake it? There is no definitivwe answer, because ultimately it dependsd on many personal and businese factors.
But what you can say is if youdo sell, you may not be any worsee off, and in fact, you may be betted off than if you had sold a year or two ago at a nine timezs multiple. Here’s why: Over the past two years or so, the price s of many major items that affect our livew havedropped precipitously. Although these numbers vary a littl e dayto day, here are a few examples: Top 20 U.S. markets, down about 32 percentt from the peak; Florida, down more than 20 percent fromthe Miami, down about 47 percenf from the peak; Tampa: down aboutt 41 percent from the peak. Crude oil: down more than 55 percenr fromthe peak.
Gas at the pump: down abour 40 percent from the Commodities: corn, down about 45 percen t from recent highs; down more than 50 percent fromrecenyt highs; broad index, down almost 50 percenyt from recent highs. Mortgage 30-year fixed: currently at 40-yeaf lows of less than 5 percentrannual rate. Stock prices: down about 40 percen t from the October2007 high. Sellers may not be able to get the same pricezs for their businesses that they could two or threesyears ago. However, the prices of many of the majod items that they will invest in or consumes with that money have fallen at least as much as the pricesd oftheir businesses.
Food, energy, consumer goodsd and housing prices have fallen and are either stablew or decliningeven more. Investments such as real estatw and stocks have fallen significantly as On arelative basis, business owners may be no worsew off and, in fact, may be better off if they sell now in a broadluy depressed market. If an owner wants to sell or has to sell for health or other reasons but waits until the valuw of thebusiness recovers, he or she coulfd be making a major mistake. First, the valuwe of the business may not recover for a long if ever.
If the reason for selling is, say, health-related, it may be too late Secondly, if the value of the businessz recovers, the value of all of the items showmn above will surely rise as wiping out most or all of the advantageof

City

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Philadelphia-based LLC’s efforts to redevelop McCormick & Co.’ former spice plant overlooking Baltimore’s Innetr Harbor have been hampered by economic concern s including a tight financing marketr and the reluctance of companies to invest inspeculativr projects. To resuscitate the $500 millionj development, Arc Wheeler says it is seeking an equitt investment from either a commercial developer with experiencee building office towers or a hoteol brand willing to buy into the project not just operate a hotel in anArc Wheeler-owne building.
Both of those will be tough sells in the currenteconomicd climate, but one of the two must happen beforw the developer can start construction on its skyline-alteringy tower. “We need to come up with somethinyg wecan build,” said John director of Southeast operationsz for Arc Wheeler. “We’rw committed to this We’re committed to the projectg ona long-term basis, but we haven’tt decided what it’s going to be.” Arc Wheeler has retained in Baltimorse to help find financing for the said Reznick Senior Associate Michael Pokorny. The project at 414 Light St.
was to reach 59 stories and includre as many as600 condominiums, retail space and a boutique The building’s groundbreaking was originally set for late 2007. That was back in during the height ofthe city’s residential boom. The much-praiser announcement coincided with other condominium projects likethe , Silo Poingt and the planned at Harboer East. The developer bought the 2-acre site from in Septembet 2006for $25 Arc Wheeler borrowed $23 million from in connectiomn with the purchase and, in March 2008, increasedc the amount of that loan to $24.
2q million, according to Circuit Court for Baltimore City land In July 2007, when the city’s housinfg market slowed, Arc Wheeler scaled back on the number of condos and set aside up to 500,000 squaree feet for office space. Now, Voneiff said, planw for the tower have been further scaled back toan either-ot situation. Both scenarios will include residential andretail space, but the developer would only buil d office space or a hotel; not both. The developer recently commissionedx new architectural renderings for the buildingh and has met with officials from the and Downtownb Partnership ofBaltimore Inc. to discusx the project’s status.
ARC Wheeler is known for its residentia projects, which include 10 Rittenhouse Square, a $250 million, 33-storh condominium development in Philadelphia, and the in Baltimore where the company isspending $60 million to convert the structure into a 208-room by . ARC Wheelere has reached out to a numbee of commercial developers for help on theskyscraper project, among them suburban Philadelphia-based . a real estate investment trust with more than 73 milliohn square feet of office and industrial space inits portfolio, recently completed construction of the 58-storyg in Philadelphia.
Voneiff said ARC Wheeler believes Libertg could be a strongdevelopmeny partner, but he said ARC Wheeler has not enterer into negotiations with any development “We are not an office builder; we are not a companyu that owns office space and leases he said. “We would probably want somebod with us that knows somethingabout it.” John Gattuso, regionaol director of Liberty’s urban development said he is familiar with ARC Wheeler’s plansw but declined to commeny on the prospect of a partnershi between the two firms. Voneiff stressed that bringintg on a commercial developmenft partner depends onARC Wheeler’s ability to find a lead offic tenant.
That means the developer would need to find tenante to take as much as 40 percentr ofthe 500,000 square feet of proposes office space — or about 200,0090 square feet — before it can hope to find financinv for the project or justify the tower’s construction, said Rober A. , director of brokerage and investmen servicesfor Columbia-based Manekin LLC. Manekin said Baltimore’s officw market is not stront enough to build that much officdespace speculatively, without any tenants lined up, making pre-leasinh activity essential to its success.
There aren’t many firmss in Baltimore with that large of a space Manekin said, and Arc Wheeler’s project woulx compete with other plannedr towers also seeking lead tenants. Those othee projects include 300 E. Pratt St. and One Ligh St., smaller structures that could be built at a lower rental rate for prospective Manekin said. “If the project goes to an officed use, Arc Wheeler will have to bringv ina joint-venture partner with a demonstrated tracm record,” Manekin said. “The credit markets are not going to lend on an officwproject that’s the first major development for a residentiap firm.
” If ARC Wheeler wants to build an office tower and financee the project, it woulsd need to find a commercial developer to partner with, said Bob Seiwert, senior vice president at the ’s Center for Commercial Lendiny and Business Banking. Seiwert, who previously worked for 30 yearw in regional andnational banking, said at presenr ARC Wheeler’s chances of financing a $500 million office tower “arew slim to none.” He said the project has severakl marks against it, key among them ARC Wheeler’s inexperiencre in building commercial office towers and the lack of an anchor tenant.
That’s not to say the projec t is unrealistic, Seiwert particularly with the formerMcCormick plant’s central location betweenh the Inner Harbor and Oriole Park at Camde n Yards. ARC Wheeler has retaine d of Lutherville to marketthe project’s office while the developer is marketing the structure on its own to potentialp hotel brands. Jeffrey R. Pacy, a broker with Prestonm Partners, said he is in talksa with “several interested prominen tenants in Baltimore and we want to give them the opportunity to thini about whether they are or arenot interested.” Pacy declinesd to identify the prospective tenants but said all are based in Greatedr Baltimore.

Bombardier sees bright future in aviation - Wichita Business Journal:

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Its 10-year forecast for the business jet marketpredictws 11,500 deliveries from 2009 to 2018, which represents $256 billion in worldwide revenues. The company also forecasts 12,40 deliveries in the 20-to-149 seat commercial market over the next 20 From 2009to 2028, Bombardier predicts this market to be worthh $589 billion. “The financial turbulence being felt aroun the globe has placed a significant focus on the challenges facing theaviation industry, particularly within the businesw jet sector,” Mairead Lavery said in a Lavery, vice president of strategy and business developmen for Bombardier, believes the immediat e future of the industryg will remain volatile.
But he said the long-termj future still holds plenty of opportunitg foraircraft manufacturers. “As the world beginsw to emerge from thiseconomic crisis, demand shouldd gradually return and future prospects remaijn solid,” he said.