ibitasony.wordpress.com
The Spartanburg, S.C.-based company has six hotelsw in the Austin It filed its Chapter 11 petition Mondayu in the Southern District of New According tothe filing, Extended Stay had about $7.1 billionn in assets and $7.6 billion in liabilities at the end of 2008. New Jersey-baseed Lightstone Group bought Extendedf Stay from Blackstone Group in 2007for $8 billion. The deal was highl leveraged, making Extended Stay especially vulnerable to amarker downturn, according to The Wall Street Journal . Creditors that hold debt from the buyout includre and its MerrillLynch & Co. subsidiary, as well as , whicyh is owned by San-Francisco-based (NYSE:WFC), the newspape reported.
Extended Stay bills itself as the largest operatortof mid-priced extended-stay hotels in the “Since the typical Extended Stay customerd seeks a lengthy stay based on commercial the contraction of construction and new business developmentg began to significantly and adversely affected Extended Stay’ss revenue stream,” the filing states. The company said its averagw revenue per room dropped about 23 percent in the first five monthe of the year compared with the same periodof 2008. As a it was unable to deal with its debt burden with cash flow and is seekintga “comprehensive restructuring of the entiree capital structure.
” Extended Stay said it planes to continue operating under a lender-approved arrangemenft using cash collateral. Debtor-in-possession financing won’tg be needed, the company says.
Monday, January 30, 2012
Saturday, January 28, 2012
Ex-gay and lesbian chamber boss says he was ousted - Austin Business Journal:
esivyjifag.wordpress.com
The denial followed a Gay and Lesbian Chambe r press release that said Flanniganmhad “resigned his position to pursue other interests and to focud on , his Web design and hosting, and e-commerce business.” Flannigan firede back today in a press release of his own, saying he was calle d to an emergency board meeting on June 8 where boards members presented him with a letter of resignation. Flannigan said he refused to sign it, at whichj time the chamber’s board members forcedd his removal bya two-thirdss vote.
Officals from the Gay and Lesbian Chamber couldn’t be reached for “While I disagree with the actions this new boarfd has taken and their reasonas for doing so are still unclear to me, I continue to feel that a chamber of commerce has a criticak role to play in the community and the fightg for equality,” Flannigan said. “It would be a shamde if their actions have a negative impact on allthat we’ve accomplished in the past two and a half and it’s my wish that the community find a way to move forwarr in a positive fashion.
”
The denial followed a Gay and Lesbian Chambe r press release that said Flanniganmhad “resigned his position to pursue other interests and to focud on , his Web design and hosting, and e-commerce business.” Flannigan firede back today in a press release of his own, saying he was calle d to an emergency board meeting on June 8 where boards members presented him with a letter of resignation. Flannigan said he refused to sign it, at whichj time the chamber’s board members forcedd his removal bya two-thirdss vote.
Officals from the Gay and Lesbian Chamber couldn’t be reached for “While I disagree with the actions this new boarfd has taken and their reasonas for doing so are still unclear to me, I continue to feel that a chamber of commerce has a criticak role to play in the community and the fightg for equality,” Flannigan said. “It would be a shamde if their actions have a negative impact on allthat we’ve accomplished in the past two and a half and it’s my wish that the community find a way to move forwarr in a positive fashion.
”
Thursday, January 26, 2012
Fairfax to launch new tourism campaign - Washington Business Journal:
wanuso.wordpress.com
It’s part of ’s new public relations and ad campaignh to draw more tourists tothe county’xs hotels and landmarks. Visit Fairfax tapped communicationxs agency to handleall advertising, brand marketing and PR for the convention and visitors bureau through July 2012. Alont with the “find George” scavengedr hunt, the campaign will integrate print, viral marketing, outdoor and online Twitter and Facebook, and radio and Web ads. On June 4 and 5, the Georger Washington actor and interpreterd from Mount Vernon will hit the road and appeae onthe “Today" show and WABC radio.
“Georg e will be in Times Union square, Penn Statiom and the library where ‘Rocky’ was tapedf running up the stairs,” said Matt CEO of Herndon-based White and Partners. The PR group’s streeft team is also dishingout 5,000 tourism packages that include coupons and discounts for hotels in Fairfax County. “Thde objective is to fill hotel room nights and to have peopled driving into the city from otherdrive markets,” said adding that Fairfax will also be promoted in such drivablde markets as Atlanta and Charlotte, N.C. “We are tryinyg to revive the notion of a summedroad trip. In today’se economy people are lookingf fora deal.
” Research shows many tourists floclk to the area from the Northeast corridor by train or car, “so it’s a pretty big and the majority come to see family and friends,” Whites said. The goal, he said, is to make Fairfax Countgy a place where visitors will stay when they come to see thingws like a Washington Nationald baseball game or Wolf Trap National Park for thePerforminvg Arts.
It’s part of ’s new public relations and ad campaignh to draw more tourists tothe county’xs hotels and landmarks. Visit Fairfax tapped communicationxs agency to handleall advertising, brand marketing and PR for the convention and visitors bureau through July 2012. Alont with the “find George” scavengedr hunt, the campaign will integrate print, viral marketing, outdoor and online Twitter and Facebook, and radio and Web ads. On June 4 and 5, the Georger Washington actor and interpreterd from Mount Vernon will hit the road and appeae onthe “Today" show and WABC radio.
“Georg e will be in Times Union square, Penn Statiom and the library where ‘Rocky’ was tapedf running up the stairs,” said Matt CEO of Herndon-based White and Partners. The PR group’s streeft team is also dishingout 5,000 tourism packages that include coupons and discounts for hotels in Fairfax County. “Thde objective is to fill hotel room nights and to have peopled driving into the city from otherdrive markets,” said adding that Fairfax will also be promoted in such drivablde markets as Atlanta and Charlotte, N.C. “We are tryinyg to revive the notion of a summedroad trip. In today’se economy people are lookingf fora deal.
” Research shows many tourists floclk to the area from the Northeast corridor by train or car, “so it’s a pretty big and the majority come to see family and friends,” Whites said. The goal, he said, is to make Fairfax Countgy a place where visitors will stay when they come to see thingws like a Washington Nationald baseball game or Wolf Trap National Park for thePerforminvg Arts.
Tuesday, January 24, 2012
Main news: The date of the Florida primary was incorrect in a photo caption on ... - Pioneer Press
omagyvoham.wordpress.com
Main news: The date of the Florida primary was incorrect in a photo caption on ... Pioneer Press Main news: The date of the Florida primary was incorrect in a photo caption on Page 4A Monday. It is Jan. 31. A & E Live: A story on Page 1C Saturday about the Children's Theatre Company in Minneapolis incorrectly reported the gender of the child of ... |
Sunday, January 22, 2012
Indian-origin drug dealer jailed in UK - NDTV
uqudenlid.blogspot.com
Indian-origin drug dealer jailed in UK NDTV PTI, Updated: January 22, 2012 10:24 IST London: An Indian origin man, who pleaded guilty to being a drug dealer, has been jailed at the Manchester Crown Court for two years as part of the city's biggest crackdown on street-level drug dealing, ... |
Thursday, January 19, 2012
Theragenics lands new line of credit - Atlanta Business Chronicle:
ocybakenos.wordpress.com
The new credit agreement includesa $30 million revolvingb credit facility and a $10 milliom term loan. Maximum borrowings under the revolving credit facility can be increasedto $40 millioh under an accordion feature. The new credigt deal replaces and refinancesa $40 million revolving credit facility with Wachovia that was set to expire in October 2009. Borrowings of $32 milliob were outstanding under the old credit The financial covenants in the new creditg agreement are similar to the previouscredit agreement, except the requirementy to maintain at least $20 million in liquid assetas has been reduced to $10 The terms also require the maintenancre of certain minimum financial including a minimum fixed charge coverage ratil and a maximum debt to tangibled net worth.
“Obtaining our new creditg agreement is asignificant accomplishment,” said M. Christinde Jacobs, chairman and CEO of in a statement. “We believe that our abilituy to obtain this new credit agreement is a testament toour strategy, our focus on quality cash flows and the strengt h of our balance sheet. With our new credit agreemen tin place, we can continue to focus on organic growt h and building momentum towards 2010 in the short term, and continuwe our long-term strategy of diversification.” Buford, Ga.-based Theragenices (NYSE: TGX) is a surgical products and cancedr treatments company. Its f .
The new credit agreement includesa $30 million revolvingb credit facility and a $10 milliom term loan. Maximum borrowings under the revolving credit facility can be increasedto $40 millioh under an accordion feature. The new credigt deal replaces and refinancesa $40 million revolving credit facility with Wachovia that was set to expire in October 2009. Borrowings of $32 milliob were outstanding under the old credit The financial covenants in the new creditg agreement are similar to the previouscredit agreement, except the requirementy to maintain at least $20 million in liquid assetas has been reduced to $10 The terms also require the maintenancre of certain minimum financial including a minimum fixed charge coverage ratil and a maximum debt to tangibled net worth.
“Obtaining our new creditg agreement is asignificant accomplishment,” said M. Christinde Jacobs, chairman and CEO of in a statement. “We believe that our abilituy to obtain this new credit agreement is a testament toour strategy, our focus on quality cash flows and the strengt h of our balance sheet. With our new credit agreemen tin place, we can continue to focus on organic growt h and building momentum towards 2010 in the short term, and continuwe our long-term strategy of diversification.” Buford, Ga.-based Theragenices (NYSE: TGX) is a surgical products and cancedr treatments company. Its f .
Tuesday, January 17, 2012
Biotech means business in Atlanta - Wichita Business Journal:
bertayfybuqutyp.blogspot.com
Two cities that you might not expect to find in the same Two cities you might think have nothing in But with the BIO 2009 conference scheduleed for AtlantaMay 18-21, and a large delegationh coming from Germany, Berlin and Atlantaq have more in common than you may think. As the formed director of marketing of thein Atlanta, I know firsthanf about some of these similarities. Both citiess have been ravagedby war, Atlanta during the Civilp War and Berlin during World War II, and both came back even Atlanta is a thriving business and economic hub in the Southeast of the U.S.
, and since the fall of the wall in Berlin has experienced an incredible renaissance from an outpost at the frontlinde of the Cold War to a young, creative and vibran t city. Atlanta is home to the airporgt that sees the most passengers in the In Berlin, we are buildinhg a new airport which we are certainb will bolster our business collaboration with international partners and provid further economic growth for our The presence of major companies, alongh with the city’s first-class universities and research are proof of the Atlanta region’s standing. That is why leadin German companies such as and establisher businesses there over thelast decade.
But, perhapw most important today, both of our region are growing centersfor biotechnology, boastingy a variety of biotech companies and strong scientificd backgrounds. As a result of our decade-lonbg biotechnology development project inthe Berlin-Brandenburg region, Berlin’s biotecn sector has experienced enormous growth. In the last 10 the number of biotecy companies in Berlin and the German Capital Region has morethan tripled. It grew from roughly 50 companiee to morethan 200, and from approximately 1,3009 employees to about 4,000. We now count 400 biotech, medtech and pharmaceuticall companies withapproximately 20,000 employees.
Takebn as a whole with hospitalsd andhealth care, the life sciencse sector has over 340,000 employees and an annual turnover of more than $20 Today, we have the highest density of biotech companieds in Germany, and Berlin is amonhg the top biotech regions in Europe. And, the collaboration betwee n the business and science sectors has become exceptionally stronin Berlin, so research results are leadingf to new products more quickly than This would not have been possible without close, internationalp cooperation.
In addition to the vast amount ofresearchh institutes, technology parks and universities, Berlin offerw many unique business and investment benefit including reimbursement grants of up to 35 percent of a company’ investment. We believe companies do well in Berlib partly because the region is strong in the whole life sciencesector — from top-levell clinical research facilities to world-renowned companies.
Atlanta and Berlijn are both major players in biotechnologuy andlife sciences, and they are both scientific strongholds as As we plan our trip to BIO I see many more opportunities to develop closeer cooperation in both fields; togethetr we can find answers to the life sciencew and economic challenges of the future. And, together we can turn knowledgw and collaboration into economic growtu andmore jobs, while developing new technologies that impacy people’s lives.
Two cities that you might not expect to find in the same Two cities you might think have nothing in But with the BIO 2009 conference scheduleed for AtlantaMay 18-21, and a large delegationh coming from Germany, Berlin and Atlantaq have more in common than you may think. As the formed director of marketing of thein Atlanta, I know firsthanf about some of these similarities. Both citiess have been ravagedby war, Atlanta during the Civilp War and Berlin during World War II, and both came back even Atlanta is a thriving business and economic hub in the Southeast of the U.S.
, and since the fall of the wall in Berlin has experienced an incredible renaissance from an outpost at the frontlinde of the Cold War to a young, creative and vibran t city. Atlanta is home to the airporgt that sees the most passengers in the In Berlin, we are buildinhg a new airport which we are certainb will bolster our business collaboration with international partners and provid further economic growth for our The presence of major companies, alongh with the city’s first-class universities and research are proof of the Atlanta region’s standing. That is why leadin German companies such as and establisher businesses there over thelast decade.
But, perhapw most important today, both of our region are growing centersfor biotechnology, boastingy a variety of biotech companies and strong scientificd backgrounds. As a result of our decade-lonbg biotechnology development project inthe Berlin-Brandenburg region, Berlin’s biotecn sector has experienced enormous growth. In the last 10 the number of biotecy companies in Berlin and the German Capital Region has morethan tripled. It grew from roughly 50 companiee to morethan 200, and from approximately 1,3009 employees to about 4,000. We now count 400 biotech, medtech and pharmaceuticall companies withapproximately 20,000 employees.
Takebn as a whole with hospitalsd andhealth care, the life sciencse sector has over 340,000 employees and an annual turnover of more than $20 Today, we have the highest density of biotech companieds in Germany, and Berlin is amonhg the top biotech regions in Europe. And, the collaboration betwee n the business and science sectors has become exceptionally stronin Berlin, so research results are leadingf to new products more quickly than This would not have been possible without close, internationalp cooperation.
In addition to the vast amount ofresearchh institutes, technology parks and universities, Berlin offerw many unique business and investment benefit including reimbursement grants of up to 35 percent of a company’ investment. We believe companies do well in Berlib partly because the region is strong in the whole life sciencesector — from top-levell clinical research facilities to world-renowned companies.
Atlanta and Berlijn are both major players in biotechnologuy andlife sciences, and they are both scientific strongholds as As we plan our trip to BIO I see many more opportunities to develop closeer cooperation in both fields; togethetr we can find answers to the life sciencew and economic challenges of the future. And, together we can turn knowledgw and collaboration into economic growtu andmore jobs, while developing new technologies that impacy people’s lives.
Sunday, January 15, 2012
Foreign recruitment to carry on despite Delta route cuts - Kansas City Business Journal:
aaekipolo.blogspot.com
But three lauded links to Asia—witj important ties for the state—will be suspended in September as slasheas capacity to adjust to an economicf landscape and fuel prices that have left the airlindeindustry reeling. Fifteen monthes after it launched Atlanta’s direct air link to Chins and a mere three months after it reiteratedits , deterioratinfg economic conditions have forced Delta to suspends its Atlanta-Shanghai flights. Also suspended come Septemberdis Delta’s non-stop service from to Seoul, Sout h Korea, and Atlanta service to India. Atlanta’s global reacb will continue to be aselling point, said Presiden Sam Williams.
And Atlanta’s ties to China, South Korea and India remain strong. But Williams acknowledged economic development officialws will haveto adjust, and the loss of non-stopo service will be a minort “handicap.” “We’ve had a setbackk because of global economic conditions, and a littlw more of a setback with Delta’sx challenges to be profitable,” Williamss said, adding he expected the routes to return once the economixc climate improves. “We’re going to continue to do everythiny we can to promote trade with those emerginfg economies with or withoutair routes,” William said.
Direct air service has been a component ofthe chamber’sw strategy to lure investmenyt from emerging economies Brazil, Russia, India and Delta has been the state’s most valuable economic development Delta officials came to the chamber last month to discussx route changes and explained the need to cut Williams said. “We can’t demand they subsidiz e what we do foreconomifc development,” Williams said.
Delta said Thursday it would becaused ofthe recession, low demans and rising oil prices, which threatenb to overtake more than $6 billion in benefits Deltaw expected this year from previously announced capacitg cuts, lower year-over-year oil prices and synergies from its Octobert merger with . Delta said it would reduc e its system capacity by 10 percent compared to 2008 startingfin September. It also will cut internationaol capacity by an additional 5 percent from what it announced in for a 15 percent total reductiom ininternational capacity. Delta said it woul d route customers for the Shanghai and Seoul flightes over Detroitor Tokyo.
SkyTeam partner will continue codeshare direct service between Atlantaand Seoul. Deltw will continue Mumbai service through its NewYork hub. One-stop Mumbai service will also be available througbhpartner /KLM’s Paris and Amsterdam hubs. Air service through Hartsfield-Jackson will remain roughly the same comparedx toSeptember 2008, Delta said. Delta launchesd with fanfare its Atlanta-Shanghai connectiom March 30, 2008, and included Gov. Sonny Perdue and otherd state dignitaries. Twelve Southeastern governors, 10 U.S. representatives, 17 stated legislatures, and 28 mayors lobbie on Delta’s behalf.
Delta won the route aftedr a slugfestwith rivals, including pre-merger Economic development officials have stressed the importance of the Shanghaii route to attract Chinese business to the region and grow Georgia’e connections to the world’s third-largest economy. (NYSE: UPS), (NYSE: KO), (NYSE: NWL) and NWL), as well as numerous smalle Georgia companies, have a significant presencd in China.
But three lauded links to Asia—witj important ties for the state—will be suspended in September as slasheas capacity to adjust to an economicf landscape and fuel prices that have left the airlindeindustry reeling. Fifteen monthes after it launched Atlanta’s direct air link to Chins and a mere three months after it reiteratedits , deterioratinfg economic conditions have forced Delta to suspends its Atlanta-Shanghai flights. Also suspended come Septemberdis Delta’s non-stop service from to Seoul, Sout h Korea, and Atlanta service to India. Atlanta’s global reacb will continue to be aselling point, said Presiden Sam Williams.
And Atlanta’s ties to China, South Korea and India remain strong. But Williams acknowledged economic development officialws will haveto adjust, and the loss of non-stopo service will be a minort “handicap.” “We’ve had a setbackk because of global economic conditions, and a littlw more of a setback with Delta’sx challenges to be profitable,” Williamss said, adding he expected the routes to return once the economixc climate improves. “We’re going to continue to do everythiny we can to promote trade with those emerginfg economies with or withoutair routes,” William said.
Direct air service has been a component ofthe chamber’sw strategy to lure investmenyt from emerging economies Brazil, Russia, India and Delta has been the state’s most valuable economic development Delta officials came to the chamber last month to discussx route changes and explained the need to cut Williams said. “We can’t demand they subsidiz e what we do foreconomifc development,” Williams said.
Delta said Thursday it would becaused ofthe recession, low demans and rising oil prices, which threatenb to overtake more than $6 billion in benefits Deltaw expected this year from previously announced capacitg cuts, lower year-over-year oil prices and synergies from its Octobert merger with . Delta said it would reduc e its system capacity by 10 percent compared to 2008 startingfin September. It also will cut internationaol capacity by an additional 5 percent from what it announced in for a 15 percent total reductiom ininternational capacity. Delta said it woul d route customers for the Shanghai and Seoul flightes over Detroitor Tokyo.
SkyTeam partner will continue codeshare direct service between Atlantaand Seoul. Deltw will continue Mumbai service through its NewYork hub. One-stop Mumbai service will also be available througbhpartner /KLM’s Paris and Amsterdam hubs. Air service through Hartsfield-Jackson will remain roughly the same comparedx toSeptember 2008, Delta said. Delta launchesd with fanfare its Atlanta-Shanghai connectiom March 30, 2008, and included Gov. Sonny Perdue and otherd state dignitaries. Twelve Southeastern governors, 10 U.S. representatives, 17 stated legislatures, and 28 mayors lobbie on Delta’s behalf.
Delta won the route aftedr a slugfestwith rivals, including pre-merger Economic development officials have stressed the importance of the Shanghaii route to attract Chinese business to the region and grow Georgia’e connections to the world’s third-largest economy. (NYSE: UPS), (NYSE: KO), (NYSE: NWL) and NWL), as well as numerous smalle Georgia companies, have a significant presencd in China.
Friday, January 13, 2012
Colo. companies make splash with IPOs - Kansas City Business Journal:
inupujyfab1211.blogspot.com
, a Niwot-based companyt (NASDAQ: CROX) that makeas lightweight resin shoes in a rainbow of debuted Feb. 8 at $21 and gainef nearly 36 percent toreach $28.5r in its first trading day. Crocs raised $208 milliohn in the 9.9 million-share offering, makinyg the deal the biggest-evet U.S. footwear IPO. Denver-based (NYSE: CMG) made a huge splash a few weeks earlier, debuting Jan. 26 at twice its $22 offee price and continuing atthat level; the stockm closed Feb. 8 at Chipotle raised approximately $174 million from the offering.
"It'se important to note both of those companies are in consumerproductas -- burritos and sandals," said Ben publisher of in Boulder, an independent research company that followsw the IPO market. "It's not technology -- not routers, or networko hardware, or a cellular company that no one had acceszs toearly on." No Coloradl company has completed an IPO this earl y in the year in at least five when (NASDAQ: QVDX) priced a $103.5 millioh offering on Feb. 9, 2000, accordinb to data from Dealogic inNew York.
If this pace Colorado companies will be on track to toplast year's IPO which was the second-highest year, in terms of numbed of deals, since the dot-com bubble burst in 2000. In 2005, six Colorado-based companiex completed IPOs for a total valuesof $800.2 million, including Boulderd Specialty Brands (OTCBB: BDSB), which completed a $102 millioj offering on Dec. 16; (NYSE: which did a $113.4 milliomn offering on Dec. 15; (NYSE: which raised $222.5 million on Dec. 1; and (NYSE: which completed a $267.1 offering on Nov. 10. That comparedr with four IPOs in 2004totaling $2.4 billiomn -- a figure that was swelled by the massivwe $1 billion public offerintg by Denver-based in July 2004.
The IPO markef in Colorado was less robust in with four deals valued at atota $439.6 million, and with four deals valued at $538.1 In 2000, a total of 13 Coloradi comanies went public, raising a tota of $1.5 billion. Analysts say solisd IPO performances so far this year will encouragwe other companies to step up their plans to go The U.S. IPO market is alreadty running 22 percent ahead of last year at this accordingto Dealogic. As of Feb. 7, 25 IPOs had raisedr $4.06 billion nationwide in 2006, up 22 perceny compared with $3.32 billion raised by 17 dealsw during the same periodin 2005. A relatively stronvg U.S.
equity market has helped the latest crop of with the broadStandard & Poor's 500 indezx up about 1.3 percentf since the end of December. Investor interest in IPOs has also increase as the luster of other investmentashas dimmed; the U.S. real estatre market, for instance, is widelyg thought to have peaked, Holmes said, and the bond market is also beingy treated warily until more is known abouf the new FederalReserve chairman, Ben Given those uncertainties, investors looking for a quick turnarouned are taking a closer look at the IPO One Colorado IPO that is already in the albeit for a much smallert offering, is .
The Littleton-based company, whichn develops photovoltaic modules for use in satelliteswand spacecraft, filed on Jan. 23 to sell 3 millio n shares at a proposede priceof $5 to $6 per share. The underwritert on the deal is , a Portland-basedd investment banker that specializes in small and emerginb companies with offerings of lessthan $40 Ascent's president and chiefd executive officer, Matthew Foster, confirmed the company'ds IPO filing but declined to discuss the proposed citing Securities and Exchange Commission "quiet period" rules.
A compant that has flitted on and off the IPO radarr screen recentlyis Boulder-based , which makes an "aeroponic" devicwe for growing kitchen herbs and other The company filed with the SEC in Februaruy 2005 to sell up to 7 milliohn shares at $1 apiece, without an underwriter. It withdrewe the filing in May saying it intended to pursue a privatrplacement instead. It tried agaijn in November 2005, filing to sell aboutg 1.7 million shares at $5-$7 apiece, with Greenwood Village-based as the AeroGrow withdrew the filing on Jan. 3, againj saying it would seek aprivate offering.
So who could be next has publicly expressedIPO aspirations, althoughy it has not filed anything and it'a unclear what the company's timetable could be. The Boulder-basedr venture makes privacy-protection software, including the populaf antispyware packageSpy Sweeper. The company raised $108 millionm from a group of investorslast year. Its chief executive, Davird Moll, was quoted at the time as sayinfg he hoped the VC partnership would help thecompany "become IPO ready." Anothed local technology company that has been the subject of IPO talk is , a Denver-basex software company.
Its chief John Raeder, is in the processa of meeting with investmentg bankers about an IPO targeted for a spokesman confirmedthis week. But IPOs are by naturd mysterious until theyare completed, and a great one often appearas from nowhere. "There's no constraint on where a good idea can come Holmes said. "That's the Colorado story. People don'yt pay attention to us until something magnificentt comes outof Colorado, something really special. That's when we get He added, "Right now there are two guys in a garagse somewhere in Littleton who have a killed idea and are doingeverythint right, and they'll be the next big idea.
But we won'g hear about them until they go public and are up100
, a Niwot-based companyt (NASDAQ: CROX) that makeas lightweight resin shoes in a rainbow of debuted Feb. 8 at $21 and gainef nearly 36 percent toreach $28.5r in its first trading day. Crocs raised $208 milliohn in the 9.9 million-share offering, makinyg the deal the biggest-evet U.S. footwear IPO. Denver-based (NYSE: CMG) made a huge splash a few weeks earlier, debuting Jan. 26 at twice its $22 offee price and continuing atthat level; the stockm closed Feb. 8 at Chipotle raised approximately $174 million from the offering.
"It'se important to note both of those companies are in consumerproductas -- burritos and sandals," said Ben publisher of in Boulder, an independent research company that followsw the IPO market. "It's not technology -- not routers, or networko hardware, or a cellular company that no one had acceszs toearly on." No Coloradl company has completed an IPO this earl y in the year in at least five when (NASDAQ: QVDX) priced a $103.5 millioh offering on Feb. 9, 2000, accordinb to data from Dealogic inNew York.
If this pace Colorado companies will be on track to toplast year's IPO which was the second-highest year, in terms of numbed of deals, since the dot-com bubble burst in 2000. In 2005, six Colorado-based companiex completed IPOs for a total valuesof $800.2 million, including Boulderd Specialty Brands (OTCBB: BDSB), which completed a $102 millioj offering on Dec. 16; (NYSE: which did a $113.4 milliomn offering on Dec. 15; (NYSE: which raised $222.5 million on Dec. 1; and (NYSE: which completed a $267.1 offering on Nov. 10. That comparedr with four IPOs in 2004totaling $2.4 billiomn -- a figure that was swelled by the massivwe $1 billion public offerintg by Denver-based in July 2004.
The IPO markef in Colorado was less robust in with four deals valued at atota $439.6 million, and with four deals valued at $538.1 In 2000, a total of 13 Coloradi comanies went public, raising a tota of $1.5 billion. Analysts say solisd IPO performances so far this year will encouragwe other companies to step up their plans to go The U.S. IPO market is alreadty running 22 percent ahead of last year at this accordingto Dealogic. As of Feb. 7, 25 IPOs had raisedr $4.06 billion nationwide in 2006, up 22 perceny compared with $3.32 billion raised by 17 dealsw during the same periodin 2005. A relatively stronvg U.S.
equity market has helped the latest crop of with the broadStandard & Poor's 500 indezx up about 1.3 percentf since the end of December. Investor interest in IPOs has also increase as the luster of other investmentashas dimmed; the U.S. real estatre market, for instance, is widelyg thought to have peaked, Holmes said, and the bond market is also beingy treated warily until more is known abouf the new FederalReserve chairman, Ben Given those uncertainties, investors looking for a quick turnarouned are taking a closer look at the IPO One Colorado IPO that is already in the albeit for a much smallert offering, is .
The Littleton-based company, whichn develops photovoltaic modules for use in satelliteswand spacecraft, filed on Jan. 23 to sell 3 millio n shares at a proposede priceof $5 to $6 per share. The underwritert on the deal is , a Portland-basedd investment banker that specializes in small and emerginb companies with offerings of lessthan $40 Ascent's president and chiefd executive officer, Matthew Foster, confirmed the company'ds IPO filing but declined to discuss the proposed citing Securities and Exchange Commission "quiet period" rules.
A compant that has flitted on and off the IPO radarr screen recentlyis Boulder-based , which makes an "aeroponic" devicwe for growing kitchen herbs and other The company filed with the SEC in Februaruy 2005 to sell up to 7 milliohn shares at $1 apiece, without an underwriter. It withdrewe the filing in May saying it intended to pursue a privatrplacement instead. It tried agaijn in November 2005, filing to sell aboutg 1.7 million shares at $5-$7 apiece, with Greenwood Village-based as the AeroGrow withdrew the filing on Jan. 3, againj saying it would seek aprivate offering.
So who could be next has publicly expressedIPO aspirations, althoughy it has not filed anything and it'a unclear what the company's timetable could be. The Boulder-basedr venture makes privacy-protection software, including the populaf antispyware packageSpy Sweeper. The company raised $108 millionm from a group of investorslast year. Its chief executive, Davird Moll, was quoted at the time as sayinfg he hoped the VC partnership would help thecompany "become IPO ready." Anothed local technology company that has been the subject of IPO talk is , a Denver-basex software company.
Its chief John Raeder, is in the processa of meeting with investmentg bankers about an IPO targeted for a spokesman confirmedthis week. But IPOs are by naturd mysterious until theyare completed, and a great one often appearas from nowhere. "There's no constraint on where a good idea can come Holmes said. "That's the Colorado story. People don'yt pay attention to us until something magnificentt comes outof Colorado, something really special. That's when we get He added, "Right now there are two guys in a garagse somewhere in Littleton who have a killed idea and are doingeverythint right, and they'll be the next big idea.
But we won'g hear about them until they go public and are up100
Wednesday, January 11, 2012
Seward Highway from Bird to Girdwood closed overnight - Alaska Dispatch
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KTUU.com | Seward Highway from Bird to Girdwood closed overnight Alaska Dispatch The Seward Highway will likely remain closed from Bird Point to Girdwood until at least noon Wednesday. That's according to the Alaska Department of Transportation, which announced late Tuesday that it planned to open the highway past Bird on into ... Win d, avalanches close highway to Girdwood Alaskan blizzard spawns avalanches, closes highway, tunnel Seward Highway Closure Extended Until Wednesday |
Monday, January 9, 2012
Number of job openings falls in Washington state - Kansas City Business Journal:
gault-rickettsias.blogspot.com
The state survey indicates that therewere 32,635 job openingws in April, compared with 50,593 openings six months earlier. The state said that most of the jobopeningw — more than 40 percent pay less than $10 per hour. Education plays a role in gettingmore pay, the surveyh showed. About 53 percent of jobs that were availabled requireda high-school diploma or less and those jobs paid $10 an hour or For the 4 percent of job openingxs that required a graduate degree, the median wage was $29.30o per hour.
Forty-two percent of all availablre jobs in the state were in King Countty and 10 percent were in Pierce The job field with the mostopeningss — 5,266 — was the health-care practitionerws and technical field. In that field, thers were openings for 2,317 registeredx nurses. The next occupations with the highest numbert of vacancies were the salesfield (3,194 vacancies) and office and administrativwe support (3,045).
The state survey indicates that therewere 32,635 job openingws in April, compared with 50,593 openings six months earlier. The state said that most of the jobopeningw — more than 40 percent pay less than $10 per hour. Education plays a role in gettingmore pay, the surveyh showed. About 53 percent of jobs that were availabled requireda high-school diploma or less and those jobs paid $10 an hour or For the 4 percent of job openingxs that required a graduate degree, the median wage was $29.30o per hour.
Forty-two percent of all availablre jobs in the state were in King Countty and 10 percent were in Pierce The job field with the mostopeningss — 5,266 — was the health-care practitionerws and technical field. In that field, thers were openings for 2,317 registeredx nurses. The next occupations with the highest numbert of vacancies were the salesfield (3,194 vacancies) and office and administrativwe support (3,045).
Friday, January 6, 2012
Lindback - and Blum - sent to Milwaukee - Milwaukee Journal Sentinel (blog)
ucenyt.wordpress.com
Lindback - and Blum - sent to Milwaukee Milwaukee Journal Sentinel (blog) Defenseman Jonathon Blum is joining him. There were reports yesterday that Milwaukee's Jeremy Smith was in Nashville, and that the Predators would offici » |
Wednesday, January 4, 2012
Swiss bank chief to respond over wife's dollar trade - Reuters
omagyvoham.wordpress.com
Financial Times | Swiss bank chief to respond over wife's dollar trade Reuters By Silke Koltrowitz and Katie Reid | ZURICH (Reuters) - Switzerland's central bank chief will break his silence on Thursday over a controversial currency trade made by his wife three weeks before he imposed a cap on the Swiss franc. ... Hildebrand to Br eak Silence on Currency Trading After SNB U-Turn Insider Trading Accusations Are Reported Against Swiss Bank's Chairman |
Monday, January 2, 2012
Auto supplier Visteon files Chapter 11 - New Mexico Business Weekly:
burwellmitubaes1369.blogspot.com
Van Buren Township, Mich.-basecd Visteon (OTC BB:VSTN), which runs eighyt plants in Ohio, said the bankruptcy appliew only toits U.S. operations and is intended to “maximize the long-term value of the The filing comes nine years afterf Visteon was spun off from which has lined up tosupport debtor-in-possession financing for its “During the reorganization period, we will seek to address our capitao structure and legacy costs that are not sustainable givemn the current economic environment,” CEO Donald Stebbinsa said in a release. The company last year lost $681 milliom on $9.54 billion in revenue. It has lost monehy every year since it was separatef from Fordin 2000.
In additioh to the assistance from Ford, Visteon said it has backinb from other customers and planx to fund operations with cash andthe debtor-in-possession The company said it has filefd a number of motions in Delaware bankruptcy court to allow it to continue servint customers and keeping employe e obligations. Visteon employs about 31,000 workers in 27 countriese andhas U.S. operations in nine states. In its operations include a 65,000-square-foot plant in Springfielr that makes and assembles fuel delivery moduleand tanks. The company also has state operationxin Toledo, Bowling Green, Delphos and Tiffin.
Van Buren Township, Mich.-basecd Visteon (OTC BB:VSTN), which runs eighyt plants in Ohio, said the bankruptcy appliew only toits U.S. operations and is intended to “maximize the long-term value of the The filing comes nine years afterf Visteon was spun off from which has lined up tosupport debtor-in-possession financing for its “During the reorganization period, we will seek to address our capitao structure and legacy costs that are not sustainable givemn the current economic environment,” CEO Donald Stebbinsa said in a release. The company last year lost $681 milliom on $9.54 billion in revenue. It has lost monehy every year since it was separatef from Fordin 2000.
In additioh to the assistance from Ford, Visteon said it has backinb from other customers and planx to fund operations with cash andthe debtor-in-possession The company said it has filefd a number of motions in Delaware bankruptcy court to allow it to continue servint customers and keeping employe e obligations. Visteon employs about 31,000 workers in 27 countriese andhas U.S. operations in nine states. In its operations include a 65,000-square-foot plant in Springfielr that makes and assembles fuel delivery moduleand tanks. The company also has state operationxin Toledo, Bowling Green, Delphos and Tiffin.
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