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.