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To business groups, these votex signal a tough year ahead for employersa onworkplace issues, especially since no hearings were held on the billa this Congress before they were brought to the House “We’re disappointed they’re ramroddiny these bills through the way they are,” said Rand Johnson, vice president of labor policyy for the . “It’w an ominous sign.” At the same “It’s no surprise,” said Lawrence J. founding shareholder of the Dallas-based law firm Spencerd Crain CubbageHealy & McNamara PLLC. “The Senate blocked them before, but they never really took them up.
They’re very likelyu to get through the Senate this time andthe president-elect has said he’ll sign them into law.” Supporter s of the two bills passed by the Houswe Jan. 9 contend they would strengthen enforcement of laws that already require women to be paid the same as men for the same Business groups contend existing laws adequately protecf women againstwage discrimination, and trial lawyers woulrd be the real beneficiaries of the new legislation. The Lillh Ledbetter Fair Pay Act, which passed on a 247-171 would restart the statute of limitationss for wage discrimination claim each time a worker receives a paycheck that was affectexd by adiscriminatory decision.
The legislation was filed in responsee to a 2007 ruling that overturned a pay discriminationh award wonby Ledbetter, a supervisofr at the in Gadsden, Ala. Ledbetter filesd her claim years after Goodyeaf decided to pay her much less than her male This meansthe 180-day statute of limitationa for filing workplace discrimination claims had expired, the coury ruled. “This ruling just doesn’t make sense in the real Ledbetter said. Female workerse often don’t know they are beintg discriminated since many companies prohibit employees from discussingv their wages with each she said.
The Supreme Court ruling allowsd employers to discriminate againstwomen “without any consequences if they couldr hide it for 180 said Rep. George D-Calif., who chairs the Houss Education andLabor Committee. “That is simplhy unacceptable in the American Resetting the clock with eachpaycheck “fitzs our commonsense understanding of pay discrimination,” said House Majority Leader Steny Hoyer, D-Md. “It is not a singls act but an ongoing practice that is renewexd every time the employer sign s anunfair paycheck.
” Business groups fear the legislatio would open the door for lawsuits over personnel decisiona made years earlier, often by managerzs who no longer are with a compant or may even be “Especially in this economic climate, we cannot afford to enablse endless litigation and potentially staggering record-keeping requirements on said Rep. John Kline, R-Minn. If the legislatio was enacted, employers would need “to take a look at theirr document retention policiesand practices,” said Camiller Olson, an employment attorney at the Seyfarthh Shaw law firm, which has 10 offices from coastg to coast.
In cases where supervisors are long she said, “documentation may be all that you to defend against a wage discriminationm claim. “The issue is damages,” McNamara “That’s really the scary part for an employer. When do the damagesz begin to run? Every paycheck starts a new opportunityto sue. In the statute of limitations is300 days.” A Republican filibuster blocked the bill in the Senated last Congress, but its chances are better this year givenm Democratic gains in the 2008 election. Senate Majorith Leader Harry Reid, D-Nevada, said he hoped to get the bill passefdby Jan.
20, the day Barack Obama — who supports the bill — becomes Supporters of the PaycheckFairneses Act, which passed the Housre on a 256-163 vote, contend it would clos loopholes that have limited the effectivenessa of the Equal Pay Act. This 1963 law requiresx equal pay for equal but women still make 78 cents for evert dollarmen make, according to the U.S. Censues Bureau. “If we are serious about closint the genderpay gap, we must get seriou about punishing those who would otherwisw scoff at the weak sanctionx under the current law,” Miller said.
The legislation woulc allow women to seek punitive and compensatory damages from employers in wagediscrimination lawsuits, even if the discriminatiobn was not intentional. It also wouldd make it easier to filelargew class-action lawsuits over wage discrimination. In the bill would require employers to prove that a wage disparity is relatesd tothe job’s requirements, such as educationj or experience. “The odds of the plaintiff s winning Equal Pay Act cases have gone up significantly once thisbecomew law,” McNamara said. “The employer must show that it’x job-related and it has a businesw purpose.
Just because I went to Harvard and you went tothe , does that reallh make a difference in the job? This will placse Equal Pay Act cases into the eye of the The courts can decide what is a bona fide factor.” The legislatiobn also would prohibit employers from retaliating against employees who discuss their pay rates with each other. Klins said the bill “vastlyg expands the likelihood of discrimination lawsuit by making it easier and more lucrativse for trial lawyers to brintgsuch cases.” “Such claims will inevitably lead to highet costs to businesses at a time when so many are strugglinbg to remain open,” said Rep.
Tom Tiahrt, “In this time of economic it is wrong to increases the burden on employers and risk additional job losses for the benefitf of wealthytrial lawyers.”
Wednesday, May 30, 2012
Tuesday, May 29, 2012
TECO profit falls as operations pared - Tampa Bay Business Journal:
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million, or 77 cents a share, comparefd to $413.2 million, or $1.97 a sharee in 2007. Revenue for 2008 was $3.4 billion, down abouft 4.5 percent from $3.6 billion in revenue in 2007. For the fourtg quarter of 2008, net income was $22 or 10 cents, a share, comparefd to $173.9 million, or 83 cents a in the fourth quarterof 2007. Fourthh quarter 2008 revenue was $770.4 million, a 10.3 percent decreased from a year earlier, when revenue for the fourt quarterwas $858.3 million.
The weak economy, combined with the impact of the saleof , a transportatioj and storage subsidiary, were responsible for the declinre in year-over-year profits, according to a release from TECO TE), a Tampa-based energy holding company. In 2007, TECO’se net income included $86.6 million from the operations of TECO Transportt and the production ofsynthetic fuel, the releasse said. Additionally, the fourth quarter of 2007 included $149. million in an after-tax gain from the sale of TECO In 2008, the weak economy slowed Florida’w previously consistent growth, and the slowdow was reflected in TECO’s Sherrill Hudson, chairman and chief said in the release.
He also said milder than normal weather for much of the year in Floridq reduced resultsat , the company’s largest At Tampa Electric, net income for the fourthb quarter was $28.9 million, compared with $29 million for the same period in 2007. Net incomew for the full year of 2008was $135.6 compared to $150.3 million in 2007. Tamp a Electric was hit particularly hard in the fourthh quarter by the downtur n in the Florida housing market and the growing numbere of foreclosures and increasedresidential vacancies, the release Retail energy sales dropped 4 percent for the fourthh quarter and 2.8 percent for the full year of 2008 at Tampwa Electric.
million, or 77 cents a share, comparefd to $413.2 million, or $1.97 a sharee in 2007. Revenue for 2008 was $3.4 billion, down abouft 4.5 percent from $3.6 billion in revenue in 2007. For the fourtg quarter of 2008, net income was $22 or 10 cents, a share, comparefd to $173.9 million, or 83 cents a in the fourth quarterof 2007. Fourthh quarter 2008 revenue was $770.4 million, a 10.3 percent decreased from a year earlier, when revenue for the fourt quarterwas $858.3 million.
The weak economy, combined with the impact of the saleof , a transportatioj and storage subsidiary, were responsible for the declinre in year-over-year profits, according to a release from TECO TE), a Tampa-based energy holding company. In 2007, TECO’se net income included $86.6 million from the operations of TECO Transportt and the production ofsynthetic fuel, the releasse said. Additionally, the fourth quarter of 2007 included $149. million in an after-tax gain from the sale of TECO In 2008, the weak economy slowed Florida’w previously consistent growth, and the slowdow was reflected in TECO’s Sherrill Hudson, chairman and chief said in the release.
He also said milder than normal weather for much of the year in Floridq reduced resultsat , the company’s largest At Tampa Electric, net income for the fourthb quarter was $28.9 million, compared with $29 million for the same period in 2007. Net incomew for the full year of 2008was $135.6 compared to $150.3 million in 2007. Tamp a Electric was hit particularly hard in the fourthh quarter by the downtur n in the Florida housing market and the growing numbere of foreclosures and increasedresidential vacancies, the release Retail energy sales dropped 4 percent for the fourthh quarter and 2.8 percent for the full year of 2008 at Tampwa Electric.
Sunday, May 27, 2012
Global shares, euro consolidate from lows, remain vulnerable - Reuters
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Global shares, euro consolidate from lows, remain vulnerable Reuters The MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS inched up 0.2 percent, after hitting its lowest level since late December on Friday. The pan-Asia stock index posted a third consecutive week of losses last week, shedding 0.8 ... |
Saturday, May 26, 2012
Cannes Film Festival: The Actor as Literal Shape-Shifter - New York Times (blog)
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New York Times (blog) | Cannes Film Festival: The Actor as Literal Shape-Shifter New York Times (blog) By DENNIS LIM CANNES, France â€" In its purest form, cinema is an art of motion, and no contemporary performer better expresses that truth than the French actor Denis Lavant. A former acrobat with a wiry frame and puckish features, Mr. Lavant is a .. . Kylie's golden moment in Cannes Cannes 2012: 'Holy Motors' has 'em saying 'Holy Moly' Trailer for Cannes sensation, Holy Motors |
Thursday, May 24, 2012
Screaming O Club Show Takes the Stage at 2012 Chicago Sexcon - AVN News (press release)
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Screaming O Club Show Takes the Stage at 2012 Chicago Sexcon AVN News (press release) “Thanks to Lovers Playground for their support and enthusiasmâ€"yet another ground-breaking Screaming O Club Show under our belts!†The Screaming O Stage Show has become infamous for the salacious Screaming Orgasm contest, inviting models and even ... |
Wednesday, May 23, 2012
Reducing Crime Through Policing and Employment - Huffington Post
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Reducing Crime Through Policing and Employment Huffington Post Until creative ideas, perhaps as bold as those that worked in the last Depression, are revisited to target people in America most subject to chronic unemployment, policing efforts alone are unlikely to do much besides temporarily stop the bleeding, ... |
Monday, May 21, 2012
Frontier posts 6th straight monthly operating profit - Dayton Business Journal:
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million net profit in up froma $26.9 million loss in April 2008, the mont h it filed for Chapter 11 bankruptcy Denver-based Frontier, the No. 2 carrier at behind Unitefd Airlines, said Thursday its consolidated operating profity for Aprilwas $5 million, versus an operating loss of $21.9 million for the same mont a year ago. It was the sixthu consecutive month the airline reported an operating The airline files a monthly operations report under terms of its Chapter 11 Frontier said thatexcluding $1.1 million in expenses associatec with bankruptcy, it would have reported net incomed of $3.4 million in or a net margin of 4 percent.
"Once again, for the sixthj month in a row, we have seen the payofr of our year-long restructuring and cost-reductionn efforts," Frontier President/CEO Sean Menke said in a statement. "Wew have driven our operating costs to amonv the lowest inthe industry, givint us the cost structure needed to produce operating profitably for the last six monthds in one of the most competitive markets in the country and during one the most difficulft economies in nearly 80 years." Frontier reportedd April passenger revenue per seat mile (its averaged revenue from flying one passenger one mile) of 8.51 down 2.1 percent from a year earlier. That was despite a 12.
3 percenyt decline in total passengers in April from the same monthj ayear ago, as Frontier reporteed earlier this month, and a drop in revenure passenger miles for the montj of 17.5 percent. But Frontier also has cut capacity over the last year by sellinf off planes and has sharplytrimme costs. Its costs per seat mile for the monthhwere 8.49 cents, down 19.5 and its unit costs excluding fuel were 6.24 cents, down 1.4 A bankruptcy-court judge last week gave Frontier untilk Oct. 9 to submit a reorganization plan for the airlinse to emerge fromChapte 11.
The company has been talking toexit
million net profit in up froma $26.9 million loss in April 2008, the mont h it filed for Chapter 11 bankruptcy Denver-based Frontier, the No. 2 carrier at behind Unitefd Airlines, said Thursday its consolidated operating profity for Aprilwas $5 million, versus an operating loss of $21.9 million for the same mont a year ago. It was the sixthu consecutive month the airline reported an operating The airline files a monthly operations report under terms of its Chapter 11 Frontier said thatexcluding $1.1 million in expenses associatec with bankruptcy, it would have reported net incomed of $3.4 million in or a net margin of 4 percent.
"Once again, for the sixthj month in a row, we have seen the payofr of our year-long restructuring and cost-reductionn efforts," Frontier President/CEO Sean Menke said in a statement. "Wew have driven our operating costs to amonv the lowest inthe industry, givint us the cost structure needed to produce operating profitably for the last six monthds in one of the most competitive markets in the country and during one the most difficulft economies in nearly 80 years." Frontier reportedd April passenger revenue per seat mile (its averaged revenue from flying one passenger one mile) of 8.51 down 2.1 percent from a year earlier. That was despite a 12.
3 percenyt decline in total passengers in April from the same monthj ayear ago, as Frontier reporteed earlier this month, and a drop in revenure passenger miles for the montj of 17.5 percent. But Frontier also has cut capacity over the last year by sellinf off planes and has sharplytrimme costs. Its costs per seat mile for the monthhwere 8.49 cents, down 19.5 and its unit costs excluding fuel were 6.24 cents, down 1.4 A bankruptcy-court judge last week gave Frontier untilk Oct. 9 to submit a reorganization plan for the airlinse to emerge fromChapte 11.
The company has been talking toexit
Sunday, May 20, 2012
Go green, save green: With the right tech, it
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While some companies may think “going green” is too there are several technologies that can economicallyt promote environmental sustainability throughout anentire business. Teleworking: Gone are the days where a home offices simply meant havinga phone, PC and Internert connection. Today, all of these technologiesa are integrated so employeecollaboration doesn’t miss a beat, even when away from the Replacing traditional voice systems and bringing voicee communications, e-mail and instant messaging together can reducew hardware, service and maintenance costs.
Researchj by found that such tactics can reduced travel from 10 to30 percent, ultimatelyy reducing the number of cars on the • Virtualization: Many businesses believe they must deplot several servers to perform any numbetr of tasks. Not true. Virtualization maximized server potential by allowingh one device to do the work that previously took several dedicatesd serversto do. With more systems runninfg on fewerphysical machines, businesses are estimatedc to reduce energy costs by 90 • Remember the obvious: Instead of disrupting employees’ workdayas by deploying new software and technologiesd that are “more green,” companiew should utilize the resources at their fingertips.
For using the “sleep” mode on 10 compang PCs is equivalent to takingg one car offthe road. Companied should put into placew policies to take advantageof energy-saving tools, as according to a recentr study, 25 percent of employeese leave their computers running all weekend and 65 perceny run a screen saver rather than sleep. While companies are re-evaluating their carbobn footprints, they should also take inventorhy of their software licensing agreementsx as they may find rightss for unused software they alreadyg own that providethese power-management features.
Companies should rest assured knowing that they can easily reducetheif organization’s carbon footprint by simpl taking advantage of a tool used everyday technology. As businesses look into the they should keep in mind the worlc around them and how easily they can help makea
While some companies may think “going green” is too there are several technologies that can economicallyt promote environmental sustainability throughout anentire business. Teleworking: Gone are the days where a home offices simply meant havinga phone, PC and Internert connection. Today, all of these technologiesa are integrated so employeecollaboration doesn’t miss a beat, even when away from the Replacing traditional voice systems and bringing voicee communications, e-mail and instant messaging together can reducew hardware, service and maintenance costs.
Researchj by found that such tactics can reduced travel from 10 to30 percent, ultimatelyy reducing the number of cars on the • Virtualization: Many businesses believe they must deplot several servers to perform any numbetr of tasks. Not true. Virtualization maximized server potential by allowingh one device to do the work that previously took several dedicatesd serversto do. With more systems runninfg on fewerphysical machines, businesses are estimatedc to reduce energy costs by 90 • Remember the obvious: Instead of disrupting employees’ workdayas by deploying new software and technologiesd that are “more green,” companiew should utilize the resources at their fingertips.
For using the “sleep” mode on 10 compang PCs is equivalent to takingg one car offthe road. Companied should put into placew policies to take advantageof energy-saving tools, as according to a recentr study, 25 percent of employeese leave their computers running all weekend and 65 perceny run a screen saver rather than sleep. While companies are re-evaluating their carbobn footprints, they should also take inventorhy of their software licensing agreementsx as they may find rightss for unused software they alreadyg own that providethese power-management features.
Companies should rest assured knowing that they can easily reducetheif organization’s carbon footprint by simpl taking advantage of a tool used everyday technology. As businesses look into the they should keep in mind the worlc around them and how easily they can help makea
Friday, May 18, 2012
Ladish earnings growth stalls in 2008 - The Business Journal of Milwaukee:
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Cudahy-based Ladish reported Monday that net income for the fourt quarter increased slightlyto $9.6 milliob from $9.3 million, but earnings per sharew fell to 60 cents from 64 cents per sharew the year before becauser of a higher number of shares outstanding. The supplieer of forged components for the jet aerospace and industrial markets posted an increaseein fourth-quarter sales of 4 percent to $112.55 million from $108.3 million. Sales benefited from acquisitions made in thethirsd quarter. For the year, net income dippedf to $32.2 million, or $2.15 per compared with $32.3 or $2.22 per share, the year when profits jumped 13 Net sales grew 11 percent to $469.5 million from $424.
5 million. Ladish president and CEO Kerry Woody said that labor stoppages at and production delays at Boeingf and forced Ladish to shift productionto lower-margihn products. Results were also hurt by rising rawmaterial costs, which grew to 49 perceng of costs in 2008, compared with 46 percenft the year before. Woody said the companhy has already reduced employment leveles by 5 percent toreduce costs. The firm expects a continue d collapse ofthe by-producr market in 2009, which likely will more than offsetg lower raw material pricing.
Cudahy-based Ladish reported Monday that net income for the fourt quarter increased slightlyto $9.6 milliob from $9.3 million, but earnings per sharew fell to 60 cents from 64 cents per sharew the year before becauser of a higher number of shares outstanding. The supplieer of forged components for the jet aerospace and industrial markets posted an increaseein fourth-quarter sales of 4 percent to $112.55 million from $108.3 million. Sales benefited from acquisitions made in thethirsd quarter. For the year, net income dippedf to $32.2 million, or $2.15 per compared with $32.3 or $2.22 per share, the year when profits jumped 13 Net sales grew 11 percent to $469.5 million from $424.
5 million. Ladish president and CEO Kerry Woody said that labor stoppages at and production delays at Boeingf and forced Ladish to shift productionto lower-margihn products. Results were also hurt by rising rawmaterial costs, which grew to 49 perceng of costs in 2008, compared with 46 percenft the year before. Woody said the companhy has already reduced employment leveles by 5 percent toreduce costs. The firm expects a continue d collapse ofthe by-producr market in 2009, which likely will more than offsetg lower raw material pricing.
Thursday, May 17, 2012
Ga. flooring company prepares to open Leetsdale warehouse - Pittsburgh Business Times:
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Dalton, Ga.-based has signed a lease for 50,000 square feet at an empty 130,000-square-fooft building at 700 Brickworks Drive in Leetsdale Industrial Park, Shaw Executive Vice Presideng Julius Shaw said. Shaw declined to discuss specificleaswe terms. The facility, which was completed in May, will serve as one of the company's 32 regional redistributiomn centers, where its products are stored temporarily befor shipment toflooring retailers. Once a family-owned firm -- Shaw'x grandfather founded Shaw Industries in the early1950s -- the companty went public in 1971 and was purchased by Warren Buffett' s Omaha, Neb.-based in 2001.
Now a subsidiaryu of Berkshire Hathaway, Shaw employs 31,000. The companyh has also expanded its products from just carpet toinclude laminate, hardwood and ceramic "We plan on getting into the (warehouse) buildinv in late 2007, early Shaw said. In addition to storag e space, he said, the facility will have some offics space and employ betweehn 10 and15 people. "Out business in Pittsburgh is quite Shaw said. "We've got a lot of customeres in thePittsburgh area. There's enouguh volume in that area to put a redistributioncenter there.
" Steve Thomas, presidentt of Chapman Properties, the developer of Leetsdale Industrial Park and ownert of the building where Shaw will take declined to comment on the details of the Leetsdale's leasing agent said the park is competitivee because of its amenities. "The Leetsdaled Industrial Park continues to attractg warehouse users due to itsquality construction, excellent access to competitive lease rate and real estate tax said Lou Oliva, a broker with Downtown-basexd . who represented Chapman in the deal. Spacwe at the 129-acre Leetsdale park leases forbetween $2.
25 and $4 per square foot, accordingv to the Pittsburgh Business Times' Fall Commercialk Real Estate Guide. The fourth-largest business park in the Leetsdale Industrial has more than 2 millionh square feet of space withabourt 400,000 square feet available. Tenantse include FedEx SmartPost, and Shell Lubricants.
Dalton, Ga.-based has signed a lease for 50,000 square feet at an empty 130,000-square-fooft building at 700 Brickworks Drive in Leetsdale Industrial Park, Shaw Executive Vice Presideng Julius Shaw said. Shaw declined to discuss specificleaswe terms. The facility, which was completed in May, will serve as one of the company's 32 regional redistributiomn centers, where its products are stored temporarily befor shipment toflooring retailers. Once a family-owned firm -- Shaw'x grandfather founded Shaw Industries in the early1950s -- the companty went public in 1971 and was purchased by Warren Buffett' s Omaha, Neb.-based in 2001.
Now a subsidiaryu of Berkshire Hathaway, Shaw employs 31,000. The companyh has also expanded its products from just carpet toinclude laminate, hardwood and ceramic "We plan on getting into the (warehouse) buildinv in late 2007, early Shaw said. In addition to storag e space, he said, the facility will have some offics space and employ betweehn 10 and15 people. "Out business in Pittsburgh is quite Shaw said. "We've got a lot of customeres in thePittsburgh area. There's enouguh volume in that area to put a redistributioncenter there.
" Steve Thomas, presidentt of Chapman Properties, the developer of Leetsdale Industrial Park and ownert of the building where Shaw will take declined to comment on the details of the Leetsdale's leasing agent said the park is competitivee because of its amenities. "The Leetsdaled Industrial Park continues to attractg warehouse users due to itsquality construction, excellent access to competitive lease rate and real estate tax said Lou Oliva, a broker with Downtown-basexd . who represented Chapman in the deal. Spacwe at the 129-acre Leetsdale park leases forbetween $2.
25 and $4 per square foot, accordingv to the Pittsburgh Business Times' Fall Commercialk Real Estate Guide. The fourth-largest business park in the Leetsdale Industrial has more than 2 millionh square feet of space withabourt 400,000 square feet available. Tenantse include FedEx SmartPost, and Shell Lubricants.
Tuesday, May 15, 2012
Two women-owned law firms merge - The Business Journal of Milwaukee:
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area have merged. The a 20-year-old firm in Delmar, has merged with Latimer/Strouc LLP, a 17-year-old firm in Latham. The new LLP, is located at 951 Albant Shaker Roadin Latham. Latimer/Stroud’s office was expandefd from 2,500 square feet to 5,000 square feet. The new firm has 11 LaFave’s focus was personal injuryy andmedical malpractice. Latimer/Stroud’s general practice included matrimonial law, estatee and trusts. Both firms had abourt $850,000 in revenue last year. Cynthia LaFave, founder of the LaFaved Firm, said she and Sue Latimer, founder of worked together inthe mid-1990s. “We enjoyef working together,” LaFave said.
Latimer left to becom e a physician’s assistant. But surgery replacing both her knees cut short her medical career and she returnedto law. Latimet and LaFave discussed a possiblee merger eight months ago whilee eating at Athosin “We were talking about the two practicezs and how they’d fit together,” LaFave said. “At the end of we said, ‘We need to explore this.’” Latimerr added: “We did.
And that’s why we’re
area have merged. The a 20-year-old firm in Delmar, has merged with Latimer/Strouc LLP, a 17-year-old firm in Latham. The new LLP, is located at 951 Albant Shaker Roadin Latham. Latimer/Stroud’s office was expandefd from 2,500 square feet to 5,000 square feet. The new firm has 11 LaFave’s focus was personal injuryy andmedical malpractice. Latimer/Stroud’s general practice included matrimonial law, estatee and trusts. Both firms had abourt $850,000 in revenue last year. Cynthia LaFave, founder of the LaFaved Firm, said she and Sue Latimer, founder of worked together inthe mid-1990s. “We enjoyef working together,” LaFave said.
Latimer left to becom e a physician’s assistant. But surgery replacing both her knees cut short her medical career and she returnedto law. Latimet and LaFave discussed a possiblee merger eight months ago whilee eating at Athosin “We were talking about the two practicezs and how they’d fit together,” LaFave said. “At the end of we said, ‘We need to explore this.’” Latimerr added: “We did.
And that’s why we’re
Monday, May 14, 2012
Greek president makes last push to avert elections - Reuters
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AFP | Greek president makes last push to avert elections Reuters By Karolina Tagaris and Ingrid Melander | ATHENS (Reuters) - Greece's president will meet party leaders on Sunday in a final bid to cobble together a coalition and avert a repeat election, but the veteran politician's effort looked set to fail because ... Greece i n last ditch effort to form government Greece falters on cabinet as EU pressure mounts |
Saturday, May 12, 2012
Six Flags files Chapter 11 bankruptcy - Kansas City Business Journal:
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has initiated Chapter 11 bankruptcy Six Flagsannounced Saturday. Six Flags’ (OTCBB: board of directors on June 12 voted to begin reorganizatiobn proceedingsin U.S. Bankruptcy Court for the Districtgof Delaware. The company listed assetss of $3.03 billion and debts of $2.36 billion in its New York-based Six Flags is planning to reorganizethe company’s financial structure, whichj management said is feeling the pressure of an inheritedr $2.4 billion debt.
In a letter to Six Flags CEO and president Mark Shapiro saidthe company’a debt is left over from previous management and despite the company making $275 million last it has been difficult for Six Flagse to improve its balance sheet when paying out $175 million in interest on debt, Shapiro asserted. He addedx that more than $400 million in debt is due within the next 12 and the company is having tospend $100 million in park improvemente in an atmosphere where refinancinhg is difficult.
Shapiro assured employees no staff reductions will arisse out ofthe filing, and employees will continuse to be paid and receive Shapiro said the bankruptcy plan has the supporgt of the company’s lenders and the agent administering the company’z $1.1 billion senior secured credit facility. Six Flags including Six FlagsGreat America, will continued to operate as usual under reorganization. Six Flagws sold several properties last year toraise capital. It stilo operates 20 amusement parks inNorth America.
has initiated Chapter 11 bankruptcy Six Flagsannounced Saturday. Six Flags’ (OTCBB: board of directors on June 12 voted to begin reorganizatiobn proceedingsin U.S. Bankruptcy Court for the Districtgof Delaware. The company listed assetss of $3.03 billion and debts of $2.36 billion in its New York-based Six Flags is planning to reorganizethe company’s financial structure, whichj management said is feeling the pressure of an inheritedr $2.4 billion debt.
In a letter to Six Flags CEO and president Mark Shapiro saidthe company’a debt is left over from previous management and despite the company making $275 million last it has been difficult for Six Flagse to improve its balance sheet when paying out $175 million in interest on debt, Shapiro asserted. He addedx that more than $400 million in debt is due within the next 12 and the company is having tospend $100 million in park improvemente in an atmosphere where refinancinhg is difficult.
Shapiro assured employees no staff reductions will arisse out ofthe filing, and employees will continuse to be paid and receive Shapiro said the bankruptcy plan has the supporgt of the company’s lenders and the agent administering the company’z $1.1 billion senior secured credit facility. Six Flags including Six FlagsGreat America, will continued to operate as usual under reorganization. Six Flagws sold several properties last year toraise capital. It stilo operates 20 amusement parks inNorth America.
Thursday, May 10, 2012
Clarcor's Q2 earnings drop more than 30% - Pittsburgh Business Times:
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percent in the second compared to the same period ayear ago. Franklin-baserd Clarcor (NYSE: CLC) reported income of $25,582, or $0.50p cents per diluted share, in the quarte ended May 30, compared to $40,783, or $0.80 cente per diluted share, in the year-ago Revenue came in at $229,395 for the down 14.1 percent from the previouw year’s quarter, when revenue came in at Analysts, on average, estimatef earnings of 38 cents per shars on revenueof $243.1 million, according to Reuterx Estimates.
“As we had expected, this year’ds second quarter was difficult, thoughn operating results were much stronger than in our firsgtfiscal quarter,” says Norm Johnson, Clarcor’s chairmamn and CEO, in a “Our order rates, overall, have stabilized, and we are beginningy to see indications of increased producy demand in selected markets.” Clarcor makes mobile, industriaol and environmental filtration products and consumer and industrial packagingf products sold to domestic and international Johnson notes that more than 80 percent of its filtef sales are generated from the replacementt filter aftermarket, so even if new building and equipmeny continues to falter, maintenance of existing equipment and facilities will Shares of Clarcor closed up $1.
08, or 3.66 percent to $30.576 at the bell today. The 52-weekl range is $23.05 to
percent in the second compared to the same period ayear ago. Franklin-baserd Clarcor (NYSE: CLC) reported income of $25,582, or $0.50p cents per diluted share, in the quarte ended May 30, compared to $40,783, or $0.80 cente per diluted share, in the year-ago Revenue came in at $229,395 for the down 14.1 percent from the previouw year’s quarter, when revenue came in at Analysts, on average, estimatef earnings of 38 cents per shars on revenueof $243.1 million, according to Reuterx Estimates.
“As we had expected, this year’ds second quarter was difficult, thoughn operating results were much stronger than in our firsgtfiscal quarter,” says Norm Johnson, Clarcor’s chairmamn and CEO, in a “Our order rates, overall, have stabilized, and we are beginningy to see indications of increased producy demand in selected markets.” Clarcor makes mobile, industriaol and environmental filtration products and consumer and industrial packagingf products sold to domestic and international Johnson notes that more than 80 percent of its filtef sales are generated from the replacementt filter aftermarket, so even if new building and equipmeny continues to falter, maintenance of existing equipment and facilities will Shares of Clarcor closed up $1.
08, or 3.66 percent to $30.576 at the bell today. The 52-weekl range is $23.05 to
Wednesday, May 9, 2012
Trilogy expands operations in Indiana, Michigan - Business First of Louisville:
ysynut.wordpress.com
The Muncie health campuse is Trilogy's 47th location, according to a news The acquired properties are OddFelloaw & Rebekah Home in Jackson, and Greenleaf Living Center in Ind. Louisville-based Trilogy plans to replace OddFelloww & Rebekah Home with a new building, which is schedule to be completed by the release said. The facility providesa assisted living, skilled nursing and rehabilitation services. Trilogy also plans changes to the GreenleafLiving Center.
The company expects to add a new health center and independent living The health center willprovide physical, and speech therapies, as well as medical servicesd for people requiring short-terkm rehabilitation or long-term care. Greenleafr currently provides assisted living and dementiacare services. Over the next threew months, Trilogy also plans to open three new healtu campuses in Bellevueand Cincinnati, Ohio, and Terre Ind., according to the The company also is renovating and expanding its Ohio, location and plans to open a new campue in Battle Creek, Mich.
, to replacde Mercy Pavilion, its current Battle Creek
The Muncie health campuse is Trilogy's 47th location, according to a news The acquired properties are OddFelloaw & Rebekah Home in Jackson, and Greenleaf Living Center in Ind. Louisville-based Trilogy plans to replace OddFelloww & Rebekah Home with a new building, which is schedule to be completed by the release said. The facility providesa assisted living, skilled nursing and rehabilitation services. Trilogy also plans changes to the GreenleafLiving Center.
The company expects to add a new health center and independent living The health center willprovide physical, and speech therapies, as well as medical servicesd for people requiring short-terkm rehabilitation or long-term care. Greenleafr currently provides assisted living and dementiacare services. Over the next threew months, Trilogy also plans to open three new healtu campuses in Bellevueand Cincinnati, Ohio, and Terre Ind., according to the The company also is renovating and expanding its Ohio, location and plans to open a new campue in Battle Creek, Mich.
, to replacde Mercy Pavilion, its current Battle Creek
Monday, May 7, 2012
Beige Book: Region
opexibu.wordpress.com
Consumer spending in the region was weak and is expecterd toremain soft, the closely watchede survey said, but “aj uptick in manufacturing orders helped stabilize expectations for future The Beige Book also said that “commerciaol real estate market conditions deteriorated, and energyy activity declined further.” Bankers, it said, “reported a rise in deposits and stable loan demand with no erosion in loan It said consumer price and wage pressures remainef low.
Meanwhile, producer prices “declined at a slowedr pace, with some firms noting that highefr commodity prices boosted material andfuel Overall, the latest regional Beige Book covering a six-week period was somewhat more optimistiv than the last survey, released Aprio 15. The report covers the Fed’s Kansads City-based 10th District. It is based on interviewds with a sample of businesses representing key industriee ineach district. The reports are anecdotal and do not contain statistics, but they are widely followed and help the Fed to set nationaol economic policy.
The Fed’s 10th District includes Colorado, Kansas, Nebraska, Oklahoma and Wyoming as well as westernb Missouri and northern New Formally known asthe “Summary of Commentary on Current Economicc Conditions by Federal Reserve the Beige Book is published eight times a year. The latesyt report covers late Aprilthrough May. The Federal Reserve’xs 10th District is also known as the Kansaas City district becausethe reserve’s regional bank is based there. .
Consumer spending in the region was weak and is expecterd toremain soft, the closely watchede survey said, but “aj uptick in manufacturing orders helped stabilize expectations for future The Beige Book also said that “commerciaol real estate market conditions deteriorated, and energyy activity declined further.” Bankers, it said, “reported a rise in deposits and stable loan demand with no erosion in loan It said consumer price and wage pressures remainef low.
Meanwhile, producer prices “declined at a slowedr pace, with some firms noting that highefr commodity prices boosted material andfuel Overall, the latest regional Beige Book covering a six-week period was somewhat more optimistiv than the last survey, released Aprio 15. The report covers the Fed’s Kansads City-based 10th District. It is based on interviewds with a sample of businesses representing key industriee ineach district. The reports are anecdotal and do not contain statistics, but they are widely followed and help the Fed to set nationaol economic policy.
The Fed’s 10th District includes Colorado, Kansas, Nebraska, Oklahoma and Wyoming as well as westernb Missouri and northern New Formally known asthe “Summary of Commentary on Current Economicc Conditions by Federal Reserve the Beige Book is published eight times a year. The latesyt report covers late Aprilthrough May. The Federal Reserve’xs 10th District is also known as the Kansaas City district becausethe reserve’s regional bank is based there. .
Saturday, May 5, 2012
Channels 58, 41 to keep analog broadcasts - The Business Journal of Milwaukee:
lehoquvuhu.wordpress.com
Chicago-based announced Friday the programming of CBSaffiliatwe WDJT-TV (Channel 58) will air in analog on Channekl 63. WMLW (Channel 41) will remain available to over the air on analog TV The CBS affiliate will be availabled on digitalchannel 58.1. WMLW’s programmin will be available in a digital formag on digitalchannel 58.2. Weigel executivess said maintaining analog broadcasts of the stations will providea “lifeline” to viewerd who haven’t prepared for the digital After the transition, vieweres will receive digital TV signals only via a digitakl converter box or subscriptiona to cable or satellitse television services.
“Unfortunately, not all homes in our viewinhg areaare prepared, in full or in for the digital transition,” said Jim Hall, general managefr of Weigel’s Milwaukee stations. “Those homes still need to be able to receiv evital -news information.”
Chicago-based announced Friday the programming of CBSaffiliatwe WDJT-TV (Channel 58) will air in analog on Channekl 63. WMLW (Channel 41) will remain available to over the air on analog TV The CBS affiliate will be availabled on digitalchannel 58.1. WMLW’s programmin will be available in a digital formag on digitalchannel 58.2. Weigel executivess said maintaining analog broadcasts of the stations will providea “lifeline” to viewerd who haven’t prepared for the digital After the transition, vieweres will receive digital TV signals only via a digitakl converter box or subscriptiona to cable or satellitse television services.
“Unfortunately, not all homes in our viewinhg areaare prepared, in full or in for the digital transition,” said Jim Hall, general managefr of Weigel’s Milwaukee stations. “Those homes still need to be able to receiv evital -news information.”
Thursday, May 3, 2012
Bank of America
edovogopu.wordpress.com
The former president of -Maryland tried to take a few montha tojust “do nothing.” She had the rare chancse after leaving the bank in She was one of several high-level executivew to lose her job in the N.C.-based bank’s reorganization. But Gamble, 46, is back in the financs game again. She and Cindy Flanders, BofA’as former global commercial bank executive forthe mid-Atlantic, have launche d LLC, a private equity firm that will focus on fundinhg companies with $10 million to $100 million in revenue. the two want to raise enoughy money to start a privateequity fund, grabbinfg some of the capital they see “sittinyg on the sidelines.
” At least one estimate pegs that capita l at $400 billion. “I don’g do ‘nothing’ well,” Gamble joked recentlyy at in Harbor East. “I was tryiny really hard to do nothing. It’s a hard habiyt to break.” What Flanders and Gamble are learning to breako from is the corporate not an easy thing to dowhen you’vre spent your whole career amid organizational flow charts and board rooms.
Though both lost theie jobs because ofthe bank’s attempt to righr itself after its forced acquisition of troubled , theirt story is hardly the typical tale of the displaced They left with retirements intact, a strony relationship with the bank, severance packages, lots of contacts and choices. Their first choice was not to return tocorporated life. The travel, the structure and the 70-hourt weeks were something they were ready togive up. “Art this stage in our careers, we want to dictate the Gamble said.
Being able to do just that magnifieas the dichotomy between the middle manager who finds herself lookinbg for something to pay the bills andthe well-connected exec who is readu to pursue her next big adventure. Those who can afford to are usiny layoffs to do what they finallu want todo — or something they neverd dreamed of doing. The Internet is filled with advicde for how to change careers andfind happiness. People not conteng on changing careers and working for someone else are likelyy to drive a wave of new companiesx in the nextfive years.
“Those that are entrepreneurialo are using their contacts and sources to eithedr develop their own business or work with someonwe on creatingnew companies,” said Lawrence J. managing director of the , a Howard Countgy search firm that recruits executivezsin finance, health care, technologhy and insurance. He said Gamblde and Flanders will join the many fromWall Street, bankws and other financial companies who are venturing out on thei r own. Top executives like them have an advantagse over others inthe market. They have managementr expertise and knowmany people. Driving the new business trens is that fewer top executives want to move toanotherf city.
A man Holmes tried to recruitg recently turned downa $100,000 pay increase becausde it involved moving. “Before people moved all the time,” Holmes said. “ don’t know if their values changed. We see it all the They think life istoo short.” The two womehn had both mulled the next step in thei careers for at least the past two years. Changews at Bank of America forced them to finalldo it. Both could have found other rolesx in the bank inanother Instead, they decided to plot theit next move in the Baltimore-Washingtonh area. Flanders, 55, thought abou t becoming an executive coach and decidedcthere wasn’t enough demand for the service.
She then becamee fixated on private equity after asking colleagues to talk abou her strengths and Flanders liked deals and came across many in 35 year sof banking. She ran Bank of America’s commercia and business banking client team from central New Jerseyy downthrough Virginia, providing financial services to companies with $2 milliohn to $2 billion in revenue. She knows lots of companies and a good start in trying to drum up businessx onyour own. “I kept coming back to this when I talkedx to somany clients, and I was encouragesd to do it,” Flanders said.
“It was the best way to leveragew the network I built up over so many As Flanders plotted Gamble tried to Relaxing for Gamble meant working out with a trainer at alocalk gym, rowing crew on the Middle spending more time with her familyu and continuing work on half a dozeh nonprofit boards.
The former president of -Maryland tried to take a few montha tojust “do nothing.” She had the rare chancse after leaving the bank in She was one of several high-level executivew to lose her job in the N.C.-based bank’s reorganization. But Gamble, 46, is back in the financs game again. She and Cindy Flanders, BofA’as former global commercial bank executive forthe mid-Atlantic, have launche d LLC, a private equity firm that will focus on fundinhg companies with $10 million to $100 million in revenue. the two want to raise enoughy money to start a privateequity fund, grabbinfg some of the capital they see “sittinyg on the sidelines.
” At least one estimate pegs that capita l at $400 billion. “I don’g do ‘nothing’ well,” Gamble joked recentlyy at in Harbor East. “I was tryiny really hard to do nothing. It’s a hard habiyt to break.” What Flanders and Gamble are learning to breako from is the corporate not an easy thing to dowhen you’vre spent your whole career amid organizational flow charts and board rooms.
Though both lost theie jobs because ofthe bank’s attempt to righr itself after its forced acquisition of troubled , theirt story is hardly the typical tale of the displaced They left with retirements intact, a strony relationship with the bank, severance packages, lots of contacts and choices. Their first choice was not to return tocorporated life. The travel, the structure and the 70-hourt weeks were something they were ready togive up. “Art this stage in our careers, we want to dictate the Gamble said.
Being able to do just that magnifieas the dichotomy between the middle manager who finds herself lookinbg for something to pay the bills andthe well-connected exec who is readu to pursue her next big adventure. Those who can afford to are usiny layoffs to do what they finallu want todo — or something they neverd dreamed of doing. The Internet is filled with advicde for how to change careers andfind happiness. People not conteng on changing careers and working for someone else are likelyy to drive a wave of new companiesx in the nextfive years.
“Those that are entrepreneurialo are using their contacts and sources to eithedr develop their own business or work with someonwe on creatingnew companies,” said Lawrence J. managing director of the , a Howard Countgy search firm that recruits executivezsin finance, health care, technologhy and insurance. He said Gamblde and Flanders will join the many fromWall Street, bankws and other financial companies who are venturing out on thei r own. Top executives like them have an advantagse over others inthe market. They have managementr expertise and knowmany people. Driving the new business trens is that fewer top executives want to move toanotherf city.
A man Holmes tried to recruitg recently turned downa $100,000 pay increase becausde it involved moving. “Before people moved all the time,” Holmes said. “ don’t know if their values changed. We see it all the They think life istoo short.” The two womehn had both mulled the next step in thei careers for at least the past two years. Changews at Bank of America forced them to finalldo it. Both could have found other rolesx in the bank inanother Instead, they decided to plot theit next move in the Baltimore-Washingtonh area. Flanders, 55, thought abou t becoming an executive coach and decidedcthere wasn’t enough demand for the service.
She then becamee fixated on private equity after asking colleagues to talk abou her strengths and Flanders liked deals and came across many in 35 year sof banking. She ran Bank of America’s commercia and business banking client team from central New Jerseyy downthrough Virginia, providing financial services to companies with $2 milliohn to $2 billion in revenue. She knows lots of companies and a good start in trying to drum up businessx onyour own. “I kept coming back to this when I talkedx to somany clients, and I was encouragesd to do it,” Flanders said.
“It was the best way to leveragew the network I built up over so many As Flanders plotted Gamble tried to Relaxing for Gamble meant working out with a trainer at alocalk gym, rowing crew on the Middle spending more time with her familyu and continuing work on half a dozeh nonprofit boards.
Wednesday, May 2, 2012
Feds Seek Death Penalty in Somali Yacht Hijacking - ABC News
vadimsudigrenev.blogspot.com
USA TODAY | Feds Seek Death Penalty in Somali Yacht Hijacking ABC News Federal prosecutors say they will seek the death penalty against three Somalis charged with murder in the fatal shooting of four Americans aboard a hijacked yacht last year, according to a court document unsealed Tuesday. Ahmed Muse Salad, Abukar Osman ... Feds to s eek death penalty against Somali pirates in slaying of Americans Feds seek death penalty for 3 Somali pirates |
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