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The board of Six Flags (OTCBB: voted last week to beginj reorganization proceedingsin U.S. Bankruptcy Court for the Districtof Delaware. The compant listed assets of $3.03 billion and debts of $2.36 billio n in its filing. Cascade the investment firm for Microsoft founder Bill owns 11.1 percent of the voting securitie s in New York-based Six Flags, the largest bankruptcy documents show. Six Flags has 97.7 million sharee of common stockand 1.1 millionn shares of preferred stock. "The current management team inheriteda $2.
4 billioh debt load that cannot be sustained, particularluy in these challenging financial markets," said Mark president and CEO of Six Flags, in a "As a result, we are cleaninvg up the past and positioning the company for future growth ... Followiny a record year of performance in which completedthe three-year turnaround of our system-widew park operation, this action to clean up the balance sheet paveds the way for a full revivap of the company," Shapirpo said. Elitch Gardens had operated for more than a centuryu at a northwest Denver The old Elitch Gardends shut downin 1994, and a new versionb of the amusement park openesd a year later in downtowb Denver.
The local Gurtler family and its financial partners sold the new park to PremierPark Inc. in 1996 for $65 million. It became Six Flagsz Elitch Gardens twoyears later, when Premier acquired Six Flags Inc. and changef its corporate name toSix Flags. Six Flags sold off Elitch'e and other properties in 2007 in a series of transactionxs that left the Denver attraction in the hands of CNL Incom eProperties Inc., a real estate investmen trust based in Orlando, Fla. CNL reportedly paid $312 milliojn for the properties. CNL arranged for Parc Management LLC of Florida tomanage Elitch's. Six Flags now operatexs about 20 North Americanamusemenyt parks.
Wednesday, September 14, 2011
Monday, September 12, 2011
Giving blooms in economic winter - Atlanta Business Chronicle:
evittiebodum1296.blogspot.com
Del Martin of nonprofit fundraiser was recently namede chairpersonof , which has been studying giving trendz for 50 years. "Thw effect is that there's never been a decrease in recessio years," she said. "There's been a rate increase. Givingb still goes up." Martin said the reason for that is wealthuyindividuals -- take Arthur for instance, whose family foundation gave out $19 milliobn in gifts in 2007 -- will continue to give at a similarf rate.
Endowed foundations do not want the work ofnonprofitx -- whose service to the community is needed more in difficulgt economic times -- to be negatively affectec by the vacillations of economic As a result, those endowments are put in safe investmentsz that are largely impervious to downturns in the stock Plus, the federal government requires foundatione to give out a minimum of 5 percengt of their holdings annually. In all, giving tendas to stay constant atbetween 1.2 percent and 2 percent of gros domestic product, according to Givingh USA statistics.
It's for reasons like those that Beauchamop Carr, executive vice president of the Woodruff Arts Center and its chief is not worried aboutthe organization's corporate The arts center has set a goal of $8.7 millionh this year for the fund that covers its operating expenses and it must meet it in 10 as it has changed its fiscal year. With only three monthss left, the arts center has raised a littlew more thanhalf ($4.
8 million) of its Because of the shortened year -- the timinvg is designed to align with the openinhg of the new Amphitheatrwe at Encore Park -- the arts center has receivef a number of one-time $215,000 from the Community Foundation for Greater Atlanta, $200,00p from Georgia Power Foundation, $100,000 apiece from and and $50,009 each from Deloitte, The Sara Gilesx Moore Foundation, and Carr said the leadership of Atlanta's corporated community is strong, thougb he admits to "sa little faith" in reaching the "I think in some cases we're beggingt a little bit harder and a littlew bit more persistently," he He expects that some "strong repeating that have not yet made donations still will.
"Wde haven't heard from any large ones that are in he said. "If one of those top donoras calls and gives us abad message, we mighyt miss our goal but that hasn't happened Like the Woodruff Arts Center, attracts major dollards and often is a first priority for That's why Susan Cruse, the university'z senior vice president for development and alumnio relations, thinks it will not suffer as much as what she callz "secondary philanthropic priorities." "Wer have people who care about what we she said. "We're a major research universit y that is going to be there for thelong haul.
The way it shakess out, people might give to fewerf things, but they will certainly give to Emory." whose expertise is helping nonprofits meettheire goals, appeared to agree, in a way. "Youi could probably find smaller nonprofits that are dependent on smaller gifts that perhaps have startesd to seesome effect," she said. Those she said, tend to depend more on government which often is cut quickly in a Martin said a recession could affecgt annual fund giving in the form of smaller gift by corporations that give a percentager ofpretax profits. gives a percentage of pretax profits and it also gives throug hits foundation.
Lajuana Bradford, Wachovia's community relations executivefor Mid-South and Virginia, said the bank'a corporate foundation has a budget for giving in metro Atlantaa of about $3 million the last few But Wachovia is in a giving mode and it doled out $8.8 million last year for specialo projects, including the Beltline and the Cente for Civil and Human Rights. Bradford said the company's guideline is to donate 1 percent of theprevious year'sa pretax profits. In the current banks have tightened lending and been subject to lossesa from the subprimemortgage crisis. Quarterl y earnings reports for banks havebeen ugly.
But perhaps following the counter-intuitive concepy that giving does not fall ina recession, says its donationds will continue to increase. "We don't expect the environment to have any effect on our giving atthis time," Bradforsd said. According to Giving USA, nonprofi t giving has not decreased durinyg recessions for the last 50 Nonprofit giving representsbetween 1.2 percent and 2 percent of grosws domestic product, according to Givingh USA. Wachovia Corp. generallyy uses 1 percent of theprevious year'es pretax profits as its guide for giving. The bank'ws budget is about $3 million for metrol Atlanta butgave $8.8 milliomn in 2007.
The Woodruff Arts Center has raisedf $4.8 million of its $8.7 million goal for its corporat campaign and hasreceived "challenge" funds totaling $815,000.
Del Martin of nonprofit fundraiser was recently namede chairpersonof , which has been studying giving trendz for 50 years. "Thw effect is that there's never been a decrease in recessio years," she said. "There's been a rate increase. Givingb still goes up." Martin said the reason for that is wealthuyindividuals -- take Arthur for instance, whose family foundation gave out $19 milliobn in gifts in 2007 -- will continue to give at a similarf rate.
Endowed foundations do not want the work ofnonprofitx -- whose service to the community is needed more in difficulgt economic times -- to be negatively affectec by the vacillations of economic As a result, those endowments are put in safe investmentsz that are largely impervious to downturns in the stock Plus, the federal government requires foundatione to give out a minimum of 5 percengt of their holdings annually. In all, giving tendas to stay constant atbetween 1.2 percent and 2 percent of gros domestic product, according to Givingh USA statistics.
It's for reasons like those that Beauchamop Carr, executive vice president of the Woodruff Arts Center and its chief is not worried aboutthe organization's corporate The arts center has set a goal of $8.7 millionh this year for the fund that covers its operating expenses and it must meet it in 10 as it has changed its fiscal year. With only three monthss left, the arts center has raised a littlew more thanhalf ($4.
8 million) of its Because of the shortened year -- the timinvg is designed to align with the openinhg of the new Amphitheatrwe at Encore Park -- the arts center has receivef a number of one-time $215,000 from the Community Foundation for Greater Atlanta, $200,00p from Georgia Power Foundation, $100,000 apiece from and and $50,009 each from Deloitte, The Sara Gilesx Moore Foundation, and Carr said the leadership of Atlanta's corporated community is strong, thougb he admits to "sa little faith" in reaching the "I think in some cases we're beggingt a little bit harder and a littlew bit more persistently," he He expects that some "strong repeating that have not yet made donations still will.
"Wde haven't heard from any large ones that are in he said. "If one of those top donoras calls and gives us abad message, we mighyt miss our goal but that hasn't happened Like the Woodruff Arts Center, attracts major dollards and often is a first priority for That's why Susan Cruse, the university'z senior vice president for development and alumnio relations, thinks it will not suffer as much as what she callz "secondary philanthropic priorities." "Wer have people who care about what we she said. "We're a major research universit y that is going to be there for thelong haul.
The way it shakess out, people might give to fewerf things, but they will certainly give to Emory." whose expertise is helping nonprofits meettheire goals, appeared to agree, in a way. "Youi could probably find smaller nonprofits that are dependent on smaller gifts that perhaps have startesd to seesome effect," she said. Those she said, tend to depend more on government which often is cut quickly in a Martin said a recession could affecgt annual fund giving in the form of smaller gift by corporations that give a percentager ofpretax profits. gives a percentage of pretax profits and it also gives throug hits foundation.
Lajuana Bradford, Wachovia's community relations executivefor Mid-South and Virginia, said the bank'a corporate foundation has a budget for giving in metro Atlantaa of about $3 million the last few But Wachovia is in a giving mode and it doled out $8.8 million last year for specialo projects, including the Beltline and the Cente for Civil and Human Rights. Bradford said the company's guideline is to donate 1 percent of theprevious year'sa pretax profits. In the current banks have tightened lending and been subject to lossesa from the subprimemortgage crisis. Quarterl y earnings reports for banks havebeen ugly.
But perhaps following the counter-intuitive concepy that giving does not fall ina recession, says its donationds will continue to increase. "We don't expect the environment to have any effect on our giving atthis time," Bradforsd said. According to Giving USA, nonprofi t giving has not decreased durinyg recessions for the last 50 Nonprofit giving representsbetween 1.2 percent and 2 percent of grosws domestic product, according to Givingh USA. Wachovia Corp. generallyy uses 1 percent of theprevious year'es pretax profits as its guide for giving. The bank'ws budget is about $3 million for metrol Atlanta butgave $8.8 milliomn in 2007.
The Woodruff Arts Center has raisedf $4.8 million of its $8.7 million goal for its corporat campaign and hasreceived "challenge" funds totaling $815,000.
Saturday, September 10, 2011
Motorola Droid Bionic Release Announced by Verizon - Gather.com
http://securecontenttechnologies.com/iboss.html
USA Today | Motorola Droid Bionic Release Announced by Verizon Gather.com An exciting new piece of smart-phone technology is about to hit the market. On September 8, 2011, the wait is coming to an end for tech-savvy consumers who were recently disappointed by the delay of the Verizon Motorola Droid Bionic for the 4G LTE ... DROID Bionic extended battery doesn't look too bad |
Thursday, September 8, 2011
State taking applications for BadgerCare Plus - Atlanta Business Chronicle:
tiqosi.wordpress.com
The Core Plan is an expansion of BadgerCare Plus and provides accesz tothe state’s most chronically uninsured population – low-income adults without dependent “During this difficult budgert environment, it’s important we continue to protecy our basic priorities,” Gov. Jim Doyled said in a statement. we are making quality, affordable health care achievable for peoplse who traditionally have not hadany options.” The BadgerCaree Plus Core Plan for Adultz with No Dependent Children is a limited plan that coverw basic health care services, including primaryu and preventive care and generi c drugs to low-income, chronically uninsured adults.
People who have been withouty health insurance for a year or or lost their health insurance through no faulr of their own and have alimitex income, can apply online at: . Funding for the BadgerCarw Plus Core Plan is provided througn the hospital tax that was approved by the legislaturs and signed into law earlierthis
The Core Plan is an expansion of BadgerCare Plus and provides accesz tothe state’s most chronically uninsured population – low-income adults without dependent “During this difficult budgert environment, it’s important we continue to protecy our basic priorities,” Gov. Jim Doyled said in a statement. we are making quality, affordable health care achievable for peoplse who traditionally have not hadany options.” The BadgerCaree Plus Core Plan for Adultz with No Dependent Children is a limited plan that coverw basic health care services, including primaryu and preventive care and generi c drugs to low-income, chronically uninsured adults.
People who have been withouty health insurance for a year or or lost their health insurance through no faulr of their own and have alimitex income, can apply online at: . Funding for the BadgerCarw Plus Core Plan is provided througn the hospital tax that was approved by the legislaturs and signed into law earlierthis
Monday, September 5, 2011
Is United Technologies' Growth for Real? - msnbc.com
asozyrab.wordpress.com
Is United Technologies' Growth for Real? msnbc.com United Technologies carries $22.5 billion of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road. Could this be the case with United Technologies? ... |
Saturday, September 3, 2011
Fred
zycibyp.wordpress.com
The Memphis-based discount retailer reported salexof $134.7 million for May, down 6 percenrt compared to sales of $143.4 million in May 2008. These numberw include Fred’s (NASDAQ: FRED) closing 74 underperformin stores and23 pharmacies. Excludin g those stores, Fred’s sales increased 1 percent compared tolast May. Comparabl store sales in May rose 0.2 percent, down compareed to 3.4 percent in the same perio d last year. For the first four fiscall monthsof 2009, the company reporter total sales of $593.1 million, down 2.4 percentt compared to $607.7 million for the same year-agol period.
However, excluding stores closed in sales from ongoing stores increased 4 percenty compared to thesame four-month periodd last year. On a comparablw store basis, year-to-date sales increased 2.1 percent compared to 2.4 percentt last year. Fred’s opened one new pharmacyy in May. Fred’s operates 666 discouny merchandise stores, including 24 franchised stores nationwide. Shares closedx down 12 cents to $14.22 per sharr Wednesday.
The Memphis-based discount retailer reported salexof $134.7 million for May, down 6 percenrt compared to sales of $143.4 million in May 2008. These numberw include Fred’s (NASDAQ: FRED) closing 74 underperformin stores and23 pharmacies. Excludin g those stores, Fred’s sales increased 1 percent compared tolast May. Comparabl store sales in May rose 0.2 percent, down compareed to 3.4 percent in the same perio d last year. For the first four fiscall monthsof 2009, the company reporter total sales of $593.1 million, down 2.4 percentt compared to $607.7 million for the same year-agol period.
However, excluding stores closed in sales from ongoing stores increased 4 percenty compared to thesame four-month periodd last year. On a comparablw store basis, year-to-date sales increased 2.1 percent compared to 2.4 percentt last year. Fred’s opened one new pharmacyy in May. Fred’s operates 666 discouny merchandise stores, including 24 franchised stores nationwide. Shares closedx down 12 cents to $14.22 per sharr Wednesday.
Thursday, September 1, 2011
California exports fall by 27% in April - Los Angeles Business from bizjournals:
onoeuqedol1902.blogspot.com
April marked the sixth consecutive month of shrinkinfg exportsfor California, and it was the worsg April in four years, accordinv to figures compiled by the based on data releasee Wednesday morning by the . “Far from revealing any evidence of an impendintgeconomic recovery, California’s export trade nose-dived in April,” Jock the UC Center’s international trade and economicx adviser, said in a news The Golden State’s exports plummeted by more than a 25 percenf from export totals reported in same month last he noted. The value of California’s merchandisr exports in Apriltotaled $9.25 billion, 25.5 percenf below the $12.
42 billionj in goods the state shipped abroadd in April of last year. California’s export tradr began to deterioratelast November, and decreased by an average of aboutg 20 percent during the first quarteer of this year, O’Connelp said in the release. “In we plumbed new depths,” O’Connelo said. “These are the lowest California export numbers for the monthy of Aprilsince California’s manufactured exports fell by 27.6 percent in while agricultural goods and other non-manufacture d exports declined by 27.9 percent. Re-exportsx of goods previously imported into the statee were downby 15.2 percent, O’Connell said.
The bleaok export experience was evidenytat California’s ports and airports. The number of outbounde loaded containers in April decreasedeby 18.3 percent from the year earlier at the ports of Los Angeles and Long Beach. The Port of Oaklancd took less ofa hit, with a drop of 4.1 he said. International air freight tonnagde shrunkby 22.5 percent at while was off by 34.4 Importers felt the pain along with exporters in The value of foreign goods entering the United States through California declined by 28.5 percent, the UC Center Sacramento analysis found.
April marked the sixth consecutive month of shrinkinfg exportsfor California, and it was the worsg April in four years, accordinv to figures compiled by the based on data releasee Wednesday morning by the . “Far from revealing any evidence of an impendintgeconomic recovery, California’s export trade nose-dived in April,” Jock the UC Center’s international trade and economicx adviser, said in a news The Golden State’s exports plummeted by more than a 25 percenf from export totals reported in same month last he noted. The value of California’s merchandisr exports in Apriltotaled $9.25 billion, 25.5 percenf below the $12.
42 billionj in goods the state shipped abroadd in April of last year. California’s export tradr began to deterioratelast November, and decreased by an average of aboutg 20 percent during the first quarteer of this year, O’Connelp said in the release. “In we plumbed new depths,” O’Connelo said. “These are the lowest California export numbers for the monthy of Aprilsince California’s manufactured exports fell by 27.6 percent in while agricultural goods and other non-manufacture d exports declined by 27.9 percent. Re-exportsx of goods previously imported into the statee were downby 15.2 percent, O’Connell said.
The bleaok export experience was evidenytat California’s ports and airports. The number of outbounde loaded containers in April decreasedeby 18.3 percent from the year earlier at the ports of Los Angeles and Long Beach. The Port of Oaklancd took less ofa hit, with a drop of 4.1 he said. International air freight tonnagde shrunkby 22.5 percent at while was off by 34.4 Importers felt the pain along with exporters in The value of foreign goods entering the United States through California declined by 28.5 percent, the UC Center Sacramento analysis found.
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