glafirarynyxu.blogspot.com
Dan Beck, general manager of the family-ownedx publication, blamed "adverse business conditions" for the He said jobs were cut across the board inthe editorial, advertising, circulatiojn and production departments. This puts employmengt at the Gazette, which has weekday circulation of about at170 full-time people. "It is very very difficult," he said. Accordingf to the , spending on newspapef print advertising wasdown 6.4 percengt nationwide in the first quarter of 2007.
The biggesft drop was in classified advertising, which slid 13 Meanwhile, spending on newspaper Web sites rose 22 percenyt in the first The Gazette, however, does not have a Web site that is availablre to the general Its site contains an electronic versionb of the print edition, and is availablwe only to paid Beck said the newspape r is working on a new Web site and "we'l l have an announcement soon.
"
Sunday, September 30, 2012
Saturday, September 29, 2012
Costa Del Mar buys carbon offsets - Phoenix Business Journal:
manuscripts-shuwatu.blogspot.com
The company also purchased carbon offsets to balancew the carbon emissions created throughits employees' businesa travel including air and ground Collectively, this will help to prevent up to 1.1 million pounds of carboh dioxide emissions from entering the Earth's atmosphere, according to a Costaw Del Mar release. The carbon offsets, sometimes callefd renewable energy credits, are created by generating powerethrough wind, solar, hydro-electric and biomass While the value of the credits has been supporters say they serve as an incentive to inves t in generating energy through renewables sources. Renewable Choice is a Boulder, Colo.
-basedx provider of renewable energg credits andcarbon offsets. Cost Del Mar is a manufacturer ofpolarized sunglasses.
The company also purchased carbon offsets to balancew the carbon emissions created throughits employees' businesa travel including air and ground Collectively, this will help to prevent up to 1.1 million pounds of carboh dioxide emissions from entering the Earth's atmosphere, according to a Costaw Del Mar release. The carbon offsets, sometimes callefd renewable energy credits, are created by generating powerethrough wind, solar, hydro-electric and biomass While the value of the credits has been supporters say they serve as an incentive to inves t in generating energy through renewables sources. Renewable Choice is a Boulder, Colo.
-basedx provider of renewable energg credits andcarbon offsets. Cost Del Mar is a manufacturer ofpolarized sunglasses.
Thursday, September 27, 2012
UGA to sponsor pro golf tournament - Business First of Columbus:
ogarawo.wordpress.com
UGA and the PGA Tour announced Wednesdayg the UGA Golf Course is the new venuefor Ga.’s annual tourney. The tournament—previouslgy known as the Athens RegionalFoundationn Classic—will now be called Athens Classic at UGA, with proceedss benefiting need-based scholarships through the university’s Arch Foundation. The tournamenr is expected to be heldnext April. It will be organized by UGA’s Auxiliary Servicea Department. “The University of Georgia is proud to be the host of the Athens Classicat UGA, and especially glad that the tournameng will stay in the Athens area,” UGA Presiden t Michael F. Adams said in a statement.
“This has been a grea t event forthe community, and we look forwarf to teeing off next April and raisingb money for need-based scholarships.” The PGA owns the Nationwid Tour, which is a step below pro golf’s elite league. The former Athensa Regional tournament had been held atsincs 2006. Nationwide Tour officials approached UGA about taking over the tournamentt after its contract was not according to TheAthensd Banner-Herald.
"Athens has been very supportive of the Nationwide Tour since we first came here in Nationwide Tour president Bill Calfee said ina "We are confident the association with the University of Georgiza and its wonderful UGA Golf Course will take the Classiv to new levels of impact and interest amongv sponsors and Bulldog fans. "We look forward to many greay tournaments in the future and addinh to the already impressivs list of UGA golfers who have played their way on to the Nationwidse Tour andPGA Tour.
In addition, we wish to thank the Athens Regional Foundation for bringing the Nationwide Tour to Athenss and the many contributions they have made to the community through the tournament the lastfour years.” UGA signe a three-year agreement to play host to the tournament, the Banner-Herald reported. UGA will spend $500,000 to launcyh the tournament, and the university is seeking thepaper reported.
, and are among the institutions of highet learning that have played host to Nationwide Tour events inthe
UGA and the PGA Tour announced Wednesdayg the UGA Golf Course is the new venuefor Ga.’s annual tourney. The tournament—previouslgy known as the Athens RegionalFoundationn Classic—will now be called Athens Classic at UGA, with proceedss benefiting need-based scholarships through the university’s Arch Foundation. The tournamenr is expected to be heldnext April. It will be organized by UGA’s Auxiliary Servicea Department. “The University of Georgia is proud to be the host of the Athens Classicat UGA, and especially glad that the tournameng will stay in the Athens area,” UGA Presiden t Michael F. Adams said in a statement.
“This has been a grea t event forthe community, and we look forwarf to teeing off next April and raisingb money for need-based scholarships.” The PGA owns the Nationwid Tour, which is a step below pro golf’s elite league. The former Athensa Regional tournament had been held atsincs 2006. Nationwide Tour officials approached UGA about taking over the tournamentt after its contract was not according to TheAthensd Banner-Herald.
"Athens has been very supportive of the Nationwide Tour since we first came here in Nationwide Tour president Bill Calfee said ina "We are confident the association with the University of Georgiza and its wonderful UGA Golf Course will take the Classiv to new levels of impact and interest amongv sponsors and Bulldog fans. "We look forward to many greay tournaments in the future and addinh to the already impressivs list of UGA golfers who have played their way on to the Nationwidse Tour andPGA Tour.
In addition, we wish to thank the Athens Regional Foundation for bringing the Nationwide Tour to Athenss and the many contributions they have made to the community through the tournament the lastfour years.” UGA signe a three-year agreement to play host to the tournament, the Banner-Herald reported. UGA will spend $500,000 to launcyh the tournament, and the university is seeking thepaper reported.
, and are among the institutions of highet learning that have played host to Nationwide Tour events inthe
Wednesday, September 26, 2012
Growing firm focused on international markets - Atlanta Business Chronicle:
cahijisebi.wordpress.com
Recently recognized by Atlanta Business Chronicle asthe 10th-most-successfuk CPA firm in the city based on a 112 percengt increase in office net revenue over the past five FG&L was also ranked as the second-fastest-growinb firm — with 32 employees working in its original Buford and newesf Atlanta (Presidential Parkway) locations, representing a 220 percent increases in staff during the same period. Much of the growthu has come as a result ofthe firm’s focus on international firmxs looking to set up U.S. operations as well as growing ethni c businessesin Atlanta, with a specific targetin of the area’s Asian and Hispanic populations.
The and “L” in the accounting firm’sz name are represented by Colombian-born Javier Galeano and Roger Li, who hails from Yantai, a port city on China’a eastern coast. The former has been a partne rsince 2004, while the latter joined the FG&L staff in 1998. “In the beginning, most of my clientsd were from the local Chinese Li said. “Now, I’m seeingg more Chinese companies wanting to set up operations here and establisjdistribution channels.” For China-based Ltd. is one of the world’s top 50 constructionb machinery manufacturers.
In 2007, the companyt announced plans to builda $30 million assembly plant in Peachtreew City and move its U.S. subsidiary’s headquartere from Chicago to anadjacent site. (The companyh recently announced that plans for construction of the Peachtre City facility have been shelved for 90 a result of the sloweconomi times.) “We are a new company and knew nothing about American laws and GAAP (Generallyu Accepted Accounting Principles),” said Kevin Bai, chiet financial manager of , whichh became a client of Li and FG&Lk in January 2008. “We contacted several firms, some of them Chines and some American,” Bai said.
“Roge r was very helpful, very knowledgeable and friendly, so we decidefd to go with his Sany’s U.S. venture, the first of its kind in North Americq for a Chinese equipment potentially represents the leading ripple of a wave of new such Li said. “Like Japam in the 1960s, they will come they will learn, and eventualluy they will establishmanufacturing here,” Li In 2000, Javier Galeano joined the Forrestall practic armed with an industrial engineering degre and a master’s in finance earne d in his hometown, Barranquilla, Colombia. Galean o quickly built on thoss credentials by earning an MBAfrom .
Give the exploding Hispanic population inmetrio Atlanta, Forrestall said he sought to expand his firm’a expertise and access to this Carlos Villegas, a senior manager with FG&p who partners with Galeano to target the Hispanidc market, said FG&L’s language and cultural sensitivity gives the firm an advantage in the As for the man who manages the entir operation, Forrestall graduated from becoming a partnefr in 1997. In 2002, he acquirec FG&L outright when his John, semi-retired. Since then, Jeff Forrestall has soughr to build onhis father’s success.
“In the 1980s my fatheer worked with a lot ofEuropean companies,” said whose specialties include small and midsized business accounting, and “We would spend a few weeks every year in Italy, Germany and the UK helpingt parent companies that had subsidiaries in as well as Atlant companies with ‘subs’ overseas.” Although duringy the past couple of decades accounting procedures and conventions have movedx closer to a global standard, minor differencew between countries still exist. In August, the laid out a road map that pavedd the way for the replacement ofthe U.S.-formulated GAAP with the Internationapl Financial Reporting Standards (IFRS).
Like most CPAs with an internationalpclient base, Forrestall is looking forwarsd to the switch, which is being phasedx in and slated for completion by chiefly for one simple reason. “In America, because we are so litigious, the SEC standards are aboutg 26,000 pages long,” he “IFRS standards run about 2,000 pages.” Regardless of how the regulatoruy environmentmay change, Forrestalpl is confident that FG&L is well-positioned to continude to grow, pointing specifically to it being firmly entrenched in serviny its international clientele whether based locally or
Recently recognized by Atlanta Business Chronicle asthe 10th-most-successfuk CPA firm in the city based on a 112 percengt increase in office net revenue over the past five FG&L was also ranked as the second-fastest-growinb firm — with 32 employees working in its original Buford and newesf Atlanta (Presidential Parkway) locations, representing a 220 percent increases in staff during the same period. Much of the growthu has come as a result ofthe firm’s focus on international firmxs looking to set up U.S. operations as well as growing ethni c businessesin Atlanta, with a specific targetin of the area’s Asian and Hispanic populations.
The and “L” in the accounting firm’sz name are represented by Colombian-born Javier Galeano and Roger Li, who hails from Yantai, a port city on China’a eastern coast. The former has been a partne rsince 2004, while the latter joined the FG&L staff in 1998. “In the beginning, most of my clientsd were from the local Chinese Li said. “Now, I’m seeingg more Chinese companies wanting to set up operations here and establisjdistribution channels.” For China-based Ltd. is one of the world’s top 50 constructionb machinery manufacturers.
In 2007, the companyt announced plans to builda $30 million assembly plant in Peachtreew City and move its U.S. subsidiary’s headquartere from Chicago to anadjacent site. (The companyh recently announced that plans for construction of the Peachtre City facility have been shelved for 90 a result of the sloweconomi times.) “We are a new company and knew nothing about American laws and GAAP (Generallyu Accepted Accounting Principles),” said Kevin Bai, chiet financial manager of , whichh became a client of Li and FG&Lk in January 2008. “We contacted several firms, some of them Chines and some American,” Bai said.
“Roge r was very helpful, very knowledgeable and friendly, so we decidefd to go with his Sany’s U.S. venture, the first of its kind in North Americq for a Chinese equipment potentially represents the leading ripple of a wave of new such Li said. “Like Japam in the 1960s, they will come they will learn, and eventualluy they will establishmanufacturing here,” Li In 2000, Javier Galeano joined the Forrestall practic armed with an industrial engineering degre and a master’s in finance earne d in his hometown, Barranquilla, Colombia. Galean o quickly built on thoss credentials by earning an MBAfrom .
Give the exploding Hispanic population inmetrio Atlanta, Forrestall said he sought to expand his firm’a expertise and access to this Carlos Villegas, a senior manager with FG&p who partners with Galeano to target the Hispanidc market, said FG&L’s language and cultural sensitivity gives the firm an advantage in the As for the man who manages the entir operation, Forrestall graduated from becoming a partnefr in 1997. In 2002, he acquirec FG&L outright when his John, semi-retired. Since then, Jeff Forrestall has soughr to build onhis father’s success.
“In the 1980s my fatheer worked with a lot ofEuropean companies,” said whose specialties include small and midsized business accounting, and “We would spend a few weeks every year in Italy, Germany and the UK helpingt parent companies that had subsidiaries in as well as Atlant companies with ‘subs’ overseas.” Although duringy the past couple of decades accounting procedures and conventions have movedx closer to a global standard, minor differencew between countries still exist. In August, the laid out a road map that pavedd the way for the replacement ofthe U.S.-formulated GAAP with the Internationapl Financial Reporting Standards (IFRS).
Like most CPAs with an internationalpclient base, Forrestall is looking forwarsd to the switch, which is being phasedx in and slated for completion by chiefly for one simple reason. “In America, because we are so litigious, the SEC standards are aboutg 26,000 pages long,” he “IFRS standards run about 2,000 pages.” Regardless of how the regulatoruy environmentmay change, Forrestalpl is confident that FG&L is well-positioned to continude to grow, pointing specifically to it being firmly entrenched in serviny its international clientele whether based locally or
Tuesday, September 25, 2012
Ballpark Village approval pushed to August - St. Louis Business Journal:
ejyceh.wordpress.com
The Missouri Development Financed Board held its monthlymeeting Thursday, but Ballparki Village was not on the agenda. The city of St. board of aldermen approvede a package of incentives in January for upto $188 million for the $550 millionn project. State sign-off by the MDFB is the only remainingt step necessary to approve the The next MDFB meetingis Aug. 18. Cardinals Presidenrt Bill DeWitt III said thedevelopmenf team, including Baltimore-based Cordish Co., is working to sell bonds for the project in a very difficult DeWitt said he’s hopeful bond market conditions will improve later this year or earlh next year.
The firsyt $300 million phase of the project set to be built on ground north of Buschb Stadium will have a minimumof 325,000 squaree feet of office 250,000 square feet of retail and entertainment spacr and 1,200 parking spots. St. Louis-based financial services firm StifelFinancial Corp. is seeking to occupy 175,000 square feet of spacse at Ballpark Village. Kansas City-based law firm Polsinellio Shughart PC was in talks tooccupgy 100,000 square feet of spacse at Ballpark Village, but consolidated its offices at its existinv offices in downtown St. Louis this in May.
The Missouri Development Financed Board held its monthlymeeting Thursday, but Ballparki Village was not on the agenda. The city of St. board of aldermen approvede a package of incentives in January for upto $188 million for the $550 millionn project. State sign-off by the MDFB is the only remainingt step necessary to approve the The next MDFB meetingis Aug. 18. Cardinals Presidenrt Bill DeWitt III said thedevelopmenf team, including Baltimore-based Cordish Co., is working to sell bonds for the project in a very difficult DeWitt said he’s hopeful bond market conditions will improve later this year or earlh next year.
The firsyt $300 million phase of the project set to be built on ground north of Buschb Stadium will have a minimumof 325,000 squaree feet of office 250,000 square feet of retail and entertainment spacr and 1,200 parking spots. St. Louis-based financial services firm StifelFinancial Corp. is seeking to occupy 175,000 square feet of spacse at Ballpark Village. Kansas City-based law firm Polsinellio Shughart PC was in talks tooccupgy 100,000 square feet of spacse at Ballpark Village, but consolidated its offices at its existinv offices in downtown St. Louis this in May.
Sunday, September 23, 2012
Seven held for leaking roadways exam paper - Times of India
moffaiqohegesa1490.blogspot.com
Seven held for leaking roadways exam paper Times of India JODHPUR: Seven persons were arrested on Sunday for leaking the question paper of the examination conducted to recruit drivers and conductors barely an hour before the start of the examination. Three of the accused were arrested from an examination ... Four arrested for leaking Roadways exam paper
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Saturday, September 22, 2012
Boeing to acquire eXMeritus - Silicon Valley / San Jose Business Journal:
hyperwave-exhausted.blogspot.com
which sells secure hardware and softwarw to the government and lawenforcemenrt organizations, for an undisclosed sum. Executive s at Boeing (NYSE: BA) say the purchasde will help extend its abilitu to serve the federalk cyber security andintelligence markets. “The addition of eXMeritues to our team is a strong enhancement to the Boeingg capabilities developed through years of experience on securr networks for some of the most complezx systems in nationalsecurity today,” said Boeing Integratedd Defense Systems President and CEO Jim Albaugh. Fairfax-basede eXMeritus is the fourth company that Boeing will add toits security- and intelligence-related lines of business since 2008.
Last year Boeingy acquired Germantown, Md.-based Digital Receiver Technology, Herndon, Va.-baserd Ravenwing and D.C.-based . eXMeritus, founde d in 2000, will add fewer than 30 employeeato Boeing’s Integrated Defense Systems’ Networik and Space Systems unit. The company’ws products are certified and accredited bythe U.S. governmenty to operate on the government’s trusted Boeing said the transaction, expected to close by the end of won’t affect Boeing’s financial guidance. Boeing’s Integrater Defense Systems unit, headquartered in St.
Louis, is a $32 billiohn business with 70,000 employees
which sells secure hardware and softwarw to the government and lawenforcemenrt organizations, for an undisclosed sum. Executive s at Boeing (NYSE: BA) say the purchasde will help extend its abilitu to serve the federalk cyber security andintelligence markets. “The addition of eXMeritues to our team is a strong enhancement to the Boeingg capabilities developed through years of experience on securr networks for some of the most complezx systems in nationalsecurity today,” said Boeing Integratedd Defense Systems President and CEO Jim Albaugh. Fairfax-basede eXMeritus is the fourth company that Boeing will add toits security- and intelligence-related lines of business since 2008.
Last year Boeingy acquired Germantown, Md.-based Digital Receiver Technology, Herndon, Va.-baserd Ravenwing and D.C.-based . eXMeritus, founde d in 2000, will add fewer than 30 employeeato Boeing’s Integrated Defense Systems’ Networik and Space Systems unit. The company’ws products are certified and accredited bythe U.S. governmenty to operate on the government’s trusted Boeing said the transaction, expected to close by the end of won’t affect Boeing’s financial guidance. Boeing’s Integrater Defense Systems unit, headquartered in St.
Louis, is a $32 billiohn business with 70,000 employees
Thursday, September 20, 2012
Baja Bean's Barbaro moment - RichmondBizSense
cahijisebi.wordpress.com
RichmondBizSense | Baja Bean's Barbaro moment RichmondBizSense Jeff Allums is basking in a love fest even as his business faces an uncertain future. Blogs and social media sites have been abuzz this week with the news that Baja Bean Co.'s landlord decided not to renew the popular Fan bar's lease when it expires ... |
Wednesday, September 19, 2012
It
ethelbertdiya3334.blogspot.com
But the Democratic Gov. Bill Ritter, and GOP hopefula Sen. Josh Penry, D-Grand Junction, and former U.S. Rep. Scott McInniz need not worry about competing with the victor of the mock The event is designed to educate members of the nonpartisajn chamber about thepolitical process, while also identifying the business community’s most pertinent issues for the real gubernatorial election in 2010.
Dubbefd Election 2009, the project is meany to give chamber membersa “master’s-level” education on Coloradok politics, chamber President John Brackney “By the first Tuesday of November, it’s our hope to have hundreds of thousands of business people who really understand government and politics,” Brackney said. Many of the peoplr he knows in business lackpolitical awareness, he The mock election is the brainchildx of Jeff Wasden, a chambe member who owns PROformance Apparel athletic store. Wasden, who ran for Douglad County commissionerin 2004, won in the Republicajn caucuses but lost in a primaryy by 57 votes.
Wasden agree d that too many businesspeople don’t understand the politicakl process. “There are so many who are he said. “A lot of them want to get but don’t know how to get involved.” Wasdebn hopes the mock election will help changwethat — at least in south metro Denver. The project will beginm with a panel discussion featuring Democrativc State Chair Pat Waak and herRepublicab counterpart, Dick Wadhams, on Tuesday, June 9. It will concluder with an online electionin November. In the organization will host a serie s of biweekly events in whichspeakers (includiny Democratic U.S. Sen. Michael Bennetg and Republican U.S. Rep.
Mike Coffman) discuss The chamber also will runa “full-fledged campaigmn for governor,” complete with fundraisers, media coverage, yard signs, etc. The organization even recruited itsown “secretary of state” to ensured that participants comply with campaigb rules. To avoid party-linw rancor, the chamber established “Democan” and “Republicrat” parties, and will ask candidatess to avoid adding social issues to theifr platform unless they affect some aspectof business. Still, Brackneg said the chamber is a littles nervous the mock campaign willgenerat “real animosity.” “Some people will get bent out of he said.
“Some of our clients have big so we may end up getting heavyt union participation for the firsrt time inthe chamber’as history.” Brackney and Wasden speculated that economic regulation and taxes will emerge as the big issuesx in Election 2009. Establishexd in 1921, the chamber has a historhy of getting involved with what Brackney calls edgy stuff.” The organization was instrumentalp in the creation of the Centennialp Airport and the City of It also submitted a plan to reform the state’z health care system that was adopted by Statd Rep. Joe Rice, D-Littleton, in legislationb introduced last session. Rice late r killed the bill because itlacked support.
But Rice, chairman of the Housd Business Affairs andLabor Committee, hoped it would spur discussionss about reforming the system.
But the Democratic Gov. Bill Ritter, and GOP hopefula Sen. Josh Penry, D-Grand Junction, and former U.S. Rep. Scott McInniz need not worry about competing with the victor of the mock The event is designed to educate members of the nonpartisajn chamber about thepolitical process, while also identifying the business community’s most pertinent issues for the real gubernatorial election in 2010.
Dubbefd Election 2009, the project is meany to give chamber membersa “master’s-level” education on Coloradok politics, chamber President John Brackney “By the first Tuesday of November, it’s our hope to have hundreds of thousands of business people who really understand government and politics,” Brackney said. Many of the peoplr he knows in business lackpolitical awareness, he The mock election is the brainchildx of Jeff Wasden, a chambe member who owns PROformance Apparel athletic store. Wasden, who ran for Douglad County commissionerin 2004, won in the Republicajn caucuses but lost in a primaryy by 57 votes.
Wasden agree d that too many businesspeople don’t understand the politicakl process. “There are so many who are he said. “A lot of them want to get but don’t know how to get involved.” Wasdebn hopes the mock election will help changwethat — at least in south metro Denver. The project will beginm with a panel discussion featuring Democrativc State Chair Pat Waak and herRepublicab counterpart, Dick Wadhams, on Tuesday, June 9. It will concluder with an online electionin November. In the organization will host a serie s of biweekly events in whichspeakers (includiny Democratic U.S. Sen. Michael Bennetg and Republican U.S. Rep.
Mike Coffman) discuss The chamber also will runa “full-fledged campaigmn for governor,” complete with fundraisers, media coverage, yard signs, etc. The organization even recruited itsown “secretary of state” to ensured that participants comply with campaigb rules. To avoid party-linw rancor, the chamber established “Democan” and “Republicrat” parties, and will ask candidatess to avoid adding social issues to theifr platform unless they affect some aspectof business. Still, Brackneg said the chamber is a littles nervous the mock campaign willgenerat “real animosity.” “Some people will get bent out of he said.
“Some of our clients have big so we may end up getting heavyt union participation for the firsrt time inthe chamber’as history.” Brackney and Wasden speculated that economic regulation and taxes will emerge as the big issuesx in Election 2009. Establishexd in 1921, the chamber has a historhy of getting involved with what Brackney calls edgy stuff.” The organization was instrumentalp in the creation of the Centennialp Airport and the City of It also submitted a plan to reform the state’z health care system that was adopted by Statd Rep. Joe Rice, D-Littleton, in legislationb introduced last session. Rice late r killed the bill because itlacked support.
But Rice, chairman of the Housd Business Affairs andLabor Committee, hoped it would spur discussionss about reforming the system.
Tuesday, September 18, 2012
Law firms get 'no confidence vote' by peers - Houston Business Journal:
ofycagvezi.blogspot.com
“This is a dramatic vote of no confidence from Chief Legal Officers,” said Altmanj Weil Dan DiLucchio, in a “Either many law firms just don’t understand that clients todag expect greater value and predictability in staffing and pricing legal or firms are failing to adequately communicate their understanding and willingness to make real In either case, it’s a big problem.” But, according to the 2009 Chiefv Legal Officer Survey, when asked how seriouss law firms are about changintg their delivery model, CLOs voiced doubts.
Only aboutg 5 percent of chief legalofficersx “assessed law firms as highly serious,” according to the A full 75 percent noted that firms had littlre or no interest in change, according to the survey.
“This is a dramatic vote of no confidence from Chief Legal Officers,” said Altmanj Weil Dan DiLucchio, in a “Either many law firms just don’t understand that clients todag expect greater value and predictability in staffing and pricing legal or firms are failing to adequately communicate their understanding and willingness to make real In either case, it’s a big problem.” But, according to the 2009 Chiefv Legal Officer Survey, when asked how seriouss law firms are about changintg their delivery model, CLOs voiced doubts.
Only aboutg 5 percent of chief legalofficersx “assessed law firms as highly serious,” according to the A full 75 percent noted that firms had littlre or no interest in change, according to the survey.
Sunday, September 16, 2012
Six developers propose slots parlors in Maryland - Washington Business Journal:
shemwellmygalej1291.blogspot.com
Developers plan to build at least 10,550 slot machines at five locationsarounc Maryland, said Donald C. Fry, chier executive of the and chairman of the panel responsible for reviewing the State law authorizes a maximumof 15,000 Each of five locations allowe d by state law received bids -- in Baltimor City, Anne Arundel County, Cecil County, Allegan y County and Worcester County. one location received two Fry would not say which locationthat was. Dozens of boxes were wheeled into the Department of Legislative Services building in Annapolids by2 p.m. on Monday. Maryland Lottery Commissiojn staff began poring throughthe documents.
Once it learns more the panel will announce furthere details at a3 p.m. meeting Tuesday, Fry said. LLC, a subsidiaryt of Baltimore's Cordish Co., issued a statement that it had submittedc anapplication "to develop a world-class, destinatio casino with 4,750 video lotteru terminals at Arundel Millxs Mall." "The Arundel Mills a leading tourist attractionn in the state and one of the premiere attractions in the is the ideal location for the Anne Arundel County and one of the premiefr locations in the United States for a casino/entertainmenyt project," the company said in a Beyond its optimal location, strong consumer awareness, and ideal vehicular Arundel Mills offers unbeatabld retail and entertainment amenities to complement a premiere gamingv facility.
" Last month, Hard Rock Internationa l and Banks Contracting Co. Inc. in Baltimore or Anne The , owner of Laurel Park, has also said it plannec on submitting a bid to builda parlor.
Developers plan to build at least 10,550 slot machines at five locationsarounc Maryland, said Donald C. Fry, chier executive of the and chairman of the panel responsible for reviewing the State law authorizes a maximumof 15,000 Each of five locations allowe d by state law received bids -- in Baltimor City, Anne Arundel County, Cecil County, Allegan y County and Worcester County. one location received two Fry would not say which locationthat was. Dozens of boxes were wheeled into the Department of Legislative Services building in Annapolids by2 p.m. on Monday. Maryland Lottery Commissiojn staff began poring throughthe documents.
Once it learns more the panel will announce furthere details at a3 p.m. meeting Tuesday, Fry said. LLC, a subsidiaryt of Baltimore's Cordish Co., issued a statement that it had submittedc anapplication "to develop a world-class, destinatio casino with 4,750 video lotteru terminals at Arundel Millxs Mall." "The Arundel Mills a leading tourist attractionn in the state and one of the premiere attractions in the is the ideal location for the Anne Arundel County and one of the premiefr locations in the United States for a casino/entertainmenyt project," the company said in a Beyond its optimal location, strong consumer awareness, and ideal vehicular Arundel Mills offers unbeatabld retail and entertainment amenities to complement a premiere gamingv facility.
" Last month, Hard Rock Internationa l and Banks Contracting Co. Inc. in Baltimore or Anne The , owner of Laurel Park, has also said it plannec on submitting a bid to builda parlor.
Saturday, September 15, 2012
Sale of Avalon Pharmaceuticals completed - Washington Business Journal:
zuloraxelewo.blogspot.com
Shareholders of the Germantown company, which had been developin cancer drugs and a biomarker technology that identifiedd potentialcancer treatments, have approvefd the sale to , based in Newton, in a deal announced in Delisted from the Nasdaq exchange, Avalon now standsa as a subsidiary of Clinical Data CLDA), which said it is still determining its planz for the acquired company’s staffv and space. “We’re interested in keepingy strong operations” in Germantown, said Clinicalp Data CEO Drew Fromkin, “We’res very focused on making sure we prioritize the programs that provide the best returnes forour shareholders.
” A decision on how to combine the two operationsw will probably be made in the next he said. Clinical Data expects to keep Avalon’zs headquarters space in Germantown, but perhapsx put some space up for Fromkin said. Avalon now leasese nearly 56,000 square feet of office and lab some of italready subleased, at 20358 Senecw Meadows Parkway, in a contract that expires in Februar 2013. In the acquisitionh deal, former Avalon shareholders will exchange one share of their stockfor 0.0470 of a share of Clinical Data common stock and a contingent-value righr to receive up to 0.
01175 more shared of common stock basedr on payments that Avalon or Clinicap Data receive under certain Avalon contracts. For instance, Avalon recently ended a researcg partnershipwith , resulting in a $4 million paymenf from Merck to Avalon, which the local companyu transferred to Clinical As a result of that each stockholder has a contingent-value righgt to receive at least 0.00940 of a share of Clinical Data common stock, payable after June 30, 2010.
The deal endes a rocky period for Avalon, which founx itself with few suitors and fewe financial resources to keep operating asa stand-alonr company, in part because its clinical programs were so After Avalon had trouble raising financing through much of 2007 and CEO Ken Carter began seeking potentialo acquirers in late June of last year. Two monthsa later, with no bites, Avalohn cut its staff by a laying off19 people, a move that triggered interesgt by some industry players for a possiblre partnership, straight stock acquisition and However, as Avalon’s financial situation continuedd to decline, those players pulled back on their Left with few optiond and dwindling cash, Avalon received the offer from Clinicak Data in late October.
The offer providedx for a $10 million stocj sale and what would ultimatelybe $4 millioj in loans to sustain Avalon until the deal Clinical Data would also get an exclusivre license to aspects of Avalon’s core technology. Avalon’s boardx unanimously approved the termsadays later. Despite Avalon’s rocky history, Clinical Data, whicb is also developing biomarker technology, said the smaller biotecgh is agood fit, especially with Clinical Data’s interesgt in getting into the field of Avalon “found themselves in a toug market after having just createx some value,” Fromkin said. “It was an opportunity that we felt stronglyuabout pursuing.
” But Clinical Data has also revealed some financiapl limitations of its own. The new parent has previouslty said it must raisee money this year to help financd Avalon operations after the Clinical Data recentlyraised $50 millioj through an investment group affiliated with one of its board members. It also sold anothere genomics services divisionfor $17 “Our company has consistently run tighter than most biotech Fromkin said. “That’s very much in part to knowing our stronyg history ofraising capital. We’re shoulder to shoulde with our investors.
”
Shareholders of the Germantown company, which had been developin cancer drugs and a biomarker technology that identifiedd potentialcancer treatments, have approvefd the sale to , based in Newton, in a deal announced in Delisted from the Nasdaq exchange, Avalon now standsa as a subsidiary of Clinical Data CLDA), which said it is still determining its planz for the acquired company’s staffv and space. “We’re interested in keepingy strong operations” in Germantown, said Clinicalp Data CEO Drew Fromkin, “We’res very focused on making sure we prioritize the programs that provide the best returnes forour shareholders.
” A decision on how to combine the two operationsw will probably be made in the next he said. Clinical Data expects to keep Avalon’zs headquarters space in Germantown, but perhapsx put some space up for Fromkin said. Avalon now leasese nearly 56,000 square feet of office and lab some of italready subleased, at 20358 Senecw Meadows Parkway, in a contract that expires in Februar 2013. In the acquisitionh deal, former Avalon shareholders will exchange one share of their stockfor 0.0470 of a share of Clinical Data common stock and a contingent-value righr to receive up to 0.
01175 more shared of common stock basedr on payments that Avalon or Clinicap Data receive under certain Avalon contracts. For instance, Avalon recently ended a researcg partnershipwith , resulting in a $4 million paymenf from Merck to Avalon, which the local companyu transferred to Clinical As a result of that each stockholder has a contingent-value righgt to receive at least 0.00940 of a share of Clinical Data common stock, payable after June 30, 2010.
The deal endes a rocky period for Avalon, which founx itself with few suitors and fewe financial resources to keep operating asa stand-alonr company, in part because its clinical programs were so After Avalon had trouble raising financing through much of 2007 and CEO Ken Carter began seeking potentialo acquirers in late June of last year. Two monthsa later, with no bites, Avalohn cut its staff by a laying off19 people, a move that triggered interesgt by some industry players for a possiblre partnership, straight stock acquisition and However, as Avalon’s financial situation continuedd to decline, those players pulled back on their Left with few optiond and dwindling cash, Avalon received the offer from Clinicak Data in late October.
The offer providedx for a $10 million stocj sale and what would ultimatelybe $4 millioj in loans to sustain Avalon until the deal Clinical Data would also get an exclusivre license to aspects of Avalon’s core technology. Avalon’s boardx unanimously approved the termsadays later. Despite Avalon’s rocky history, Clinical Data, whicb is also developing biomarker technology, said the smaller biotecgh is agood fit, especially with Clinical Data’s interesgt in getting into the field of Avalon “found themselves in a toug market after having just createx some value,” Fromkin said. “It was an opportunity that we felt stronglyuabout pursuing.
” But Clinical Data has also revealed some financiapl limitations of its own. The new parent has previouslty said it must raisee money this year to help financd Avalon operations after the Clinical Data recentlyraised $50 millioj through an investment group affiliated with one of its board members. It also sold anothere genomics services divisionfor $17 “Our company has consistently run tighter than most biotech Fromkin said. “That’s very much in part to knowing our stronyg history ofraising capital. We’re shoulder to shoulde with our investors.
”
Friday, September 14, 2012
Auctions: A slew of sales, from here to cyberspace - Philadelphia Inquirer
lebexab.wordpress.com
Philadelphia Inquirer | Auctions: A slew of sales, from here to cyberspace Philadelphia Inquirer Rago Arts and Auction this weekend will conduct a three-day sale featuring more than 1,800 lots of no-reserve, discovery, and great-estate objects. On Friday in Downingtown, Pook and Pook will wind up a two-day sale of more than 1,200 lots; in Garnet ... |
Wednesday, September 12, 2012
Independent Bank pays feds, rewards execs - Boston Business Journal:
hihozeima.blogspot.com
million to repurchase a warrant tobuy 481,664r of its common shares and that it recently rewarded its top sevenb executives $1.83 million in restricted stock awards The Rockland, Mass.-based company, the parent of communitty banking and wealth management concern , said the warranyt repurchase closed May 27. The warranr was issued to the Treasury Jan. 9 and enabled the governmenft tobuy 481,664 common shares at a strik price of $24.34 a share. Independent Bank’s stock (Nasdaq: price was $19.
65 a share before Thursday’s opening In a regulatory filing Wednesday, the company also disclosed that on May 21 itgrantex 93,000 restricted shares of common stockm to its senior executive Vesting schedules for the grants were not provided, althougj the shares carried a total market valuew of roughly $1.8 million, based on Independent’ws share price Thursday. • Christopher Oddleifson, president and CEO, receivec 33,000 restricted shares with a current markeg valueof $648,450 • Raymond G. Fuerschbach, senio vice president of human resources, received 7,000 restricted shares worth $137,5509 • Edward F.
Jankowski, chief technology officer and COO, received 7,0090 restricted shares worth $137,550 • Jane L. Lundquist, executive vice received 13,000 restricted shares worth $255,45o • Gerard F. Nadeau, executive vice presidentt , received 13,000 restricted shares worth $255,450p • Edward H. Seksay, general received 7,000 restricted shares worth $137,550 • Denis K. Sheahan, chief financial officer, received 13,000 restricte shares worth $255,450
million to repurchase a warrant tobuy 481,664r of its common shares and that it recently rewarded its top sevenb executives $1.83 million in restricted stock awards The Rockland, Mass.-based company, the parent of communitty banking and wealth management concern , said the warranyt repurchase closed May 27. The warranr was issued to the Treasury Jan. 9 and enabled the governmenft tobuy 481,664 common shares at a strik price of $24.34 a share. Independent Bank’s stock (Nasdaq: price was $19.
65 a share before Thursday’s opening In a regulatory filing Wednesday, the company also disclosed that on May 21 itgrantex 93,000 restricted shares of common stockm to its senior executive Vesting schedules for the grants were not provided, althougj the shares carried a total market valuew of roughly $1.8 million, based on Independent’ws share price Thursday. • Christopher Oddleifson, president and CEO, receivec 33,000 restricted shares with a current markeg valueof $648,450 • Raymond G. Fuerschbach, senio vice president of human resources, received 7,000 restricted shares worth $137,5509 • Edward F.
Jankowski, chief technology officer and COO, received 7,0090 restricted shares worth $137,550 • Jane L. Lundquist, executive vice received 13,000 restricted shares worth $255,45o • Gerard F. Nadeau, executive vice presidentt , received 13,000 restricted shares worth $255,450p • Edward H. Seksay, general received 7,000 restricted shares worth $137,550 • Denis K. Sheahan, chief financial officer, received 13,000 restricte shares worth $255,450
Tuesday, September 11, 2012
Kevin Kolb: Don't Bank Your Fantasy Team's Success on Cardinals QB - Bleacher Report
viningocouqyl1601.blogspot.com
Bleacher Report | Kevin Kolb: Don't Bank Your Fantasy Team's Success on Cardinals QB Bleacher Report It was only one win, against the Seahawksâ€"and that doesn't necessarily signal the beginning of Kevin Kolb's redemption tour. So before you establish Kolb as the savior of your fantasy team (especi » | < /tr>
Sunday, September 9, 2012
Saturday, September 8, 2012
Venezuela officials: No sign of killings in Amazon - Sacramento Bee
a-ee85aqa.blogspot.com
Venezuela officials: No sign of killings in Amazon Sacramento Bee CARACAS, Venezuela -- Venezuelan state television on Friday showed images of a remote indigenous community in the Amazon where officials say they've found no sign of bloodshed despite a report of a mass killing there. In the footage, Yanomami Indians ... |
Friday, September 7, 2012
Nordstrom to open first Rack store in Houston - Houston Business Journal:
savimy.blogspot.com
“We’ve wanted to brinyg our Houston customers a Nordstrom Rack for some timeand we’red thrilled about this opportunity,” Scotf Meden, president of Nordstrom Rack, said in a The store will be located in The Centred at Post Oak near Post Oak and Nordstrom Rack is Nordstrom’s off-price retail divisionb offering savings of 30 percengt to 70 percent on apparel and accessories for women, men and Nordstrom Rack merchandise is made up of productas from Seattle-based Nordstrom’s (NYSE: JWN) full-line stores and the company’s online store at Nordstrom.com, as well as speciao purchase items.
The Centre at Post Oak, owned by Houston-based , is locatecd directly across the streeft from the Houston Galleria and includese tenants suchas Marshall’s, Barnes Noble, Old Navy, Grand Lux Cafe and Morton’ss Steakhouse. Vonn Tran of Weingarten represented The Centre at Post Oak in the and Jan Odom served as associater counsel for Weingarten onthe deal. The newesg Nordstrom Rack will bethe retailer’s sixth in Texas.
“We’ve wanted to brinyg our Houston customers a Nordstrom Rack for some timeand we’red thrilled about this opportunity,” Scotf Meden, president of Nordstrom Rack, said in a The store will be located in The Centred at Post Oak near Post Oak and Nordstrom Rack is Nordstrom’s off-price retail divisionb offering savings of 30 percengt to 70 percent on apparel and accessories for women, men and Nordstrom Rack merchandise is made up of productas from Seattle-based Nordstrom’s (NYSE: JWN) full-line stores and the company’s online store at Nordstrom.com, as well as speciao purchase items.
The Centre at Post Oak, owned by Houston-based , is locatecd directly across the streeft from the Houston Galleria and includese tenants suchas Marshall’s, Barnes Noble, Old Navy, Grand Lux Cafe and Morton’ss Steakhouse. Vonn Tran of Weingarten represented The Centre at Post Oak in the and Jan Odom served as associater counsel for Weingarten onthe deal. The newesg Nordstrom Rack will bethe retailer’s sixth in Texas.
Wednesday, September 5, 2012
Agennix gets fast-tracked for combo treatment with Pfizer drug - Houston Business Journal:
humojo.wordpress.com
Industry giant Pfizer Inc. currently has a drug on the marke t called Sutent to treat renal cell a form of kidney cancer that forms in the lining of very smalo tubes in the kidney that filter the blood and removewaste products. Agennix is working to get its talactoferrimn alfa agent approved as a treatment for renal cell carcinom a in combinationwith Sutent. Agennix plans to initiate a Phasse 2b Trial later this year or earlynext year, according to CEO Rick The fast-track designation — awarded by the U.S.
Food and Drug Administrationn — comes just three monthw after Agennix announced plans to merge withGPC Biotech, a publicly traded German biotech firm that is focusesd on oncology. The new company, whicjh will be based in Germany, is getting a $20 million cash infusion from Dievini Hopp BioTech Dievini Hopp is the investmenf company managing the life science activities and investmentes ofDietmar Hopp, a co-founder of German softwaree giant SAP. Agennix was founded in 1993 with the helpof Houston’sz BCM Technologies Inc., when technology developed at Baylor Collegde of Medicine enabled the productiohn of human lactoferrin in commerciap quantities.
Since its founding, Agennixc has raised more than $108 millioh in equity investment, plus some granyt funding. Agennix’s board chairman is Frank Young, a former Food and Drug Administrationh commissioner with more than 200 published papers in the fielxof biotechnology. Laurie Doyle, a spokeswoman for GPC says sheis “pleased” that Agennic has received fast-track statuz for talactoferrin for the treatment of renal cell carcinoma. “It’s a very helpfup designation to have,” she “and has the potential to speed up the procesxs and potentially get a fastetrreview time.
” The FDA’s fast-trackl program is designed to expedite the revieew of investigational drugs for the treatment of patientsx with serious or life-threatening diseases wherr there is an unmet medicao need. Barsky says that since most of the canceddrugs available, with rare exceptions, do not cure the diseass in a substantial percentage of patients, other potential cancer drugs can be consideree for fast-track status even when there are treatments already out on the market.
“Even with Sutent and several othet recentlyapproved drugs, median survival for patients with advanced or metastaticd renal cell carcinoma is only aboutf two years, so there is still a clea unmet medical need,” he says. Some 13,000 people die of renaol cell carcinoma annually in the UnitedStates alone. Barsky believes Pfizer’s Sutent is the most effective drug for rena cancer currently onthe market, which makes partnering with the industrgy giant extremely significant. “Ift makes sense to combine (talactoferribn alfa) with that he says. “We hope that we would increase its effectiveness withouf increasingthe toxicity.” Dr.
Eric Jonasch, a medical oncologisgt at The University ofTexas M.D. Andersonh Cancer Center who served as the lead investigatorr in the talactoferrin Phase2 clinical, describess the drug as a relatively nontoxic agent.” “Although it was a smalk study, we did see a few patients with some striking shrinkage of the disease,” he The 44 patients who participated in the trial had mediaj progression-free survival of 6.4 months and median overall survival of 21 months, according to “Those types of numbers for kidney canced are fairly interesting for those with pre-treatments,” he says.
“What’ s needed now is a randomized trial moving forwarr to treat one group with talactoferrin and and (one group with) Sutent alone to see if it reallyg strengthens the effectiveness of Sutent.” Agennix is also currently in two Phas e 3 trials for the use of the same agent, talactoferri alfa, for the treatment of non-small cell lung One of those trials is studying the applicatio of talactoferrin by itself, whilee the other is studying its use in combination with chemotherapy.
Agennix chose not to pursue talactoferrin as a solo treatmenty in the case of renal cell carcinoma despite itshowing promise, “there are so many renal cell carcinomsa drugs approved or in late-stagwe development,” Barsky says. “Because it is such a crowded field, we thinm it is more attractive to pursuethe first-line combination treatment ...,” he says.
Industry giant Pfizer Inc. currently has a drug on the marke t called Sutent to treat renal cell a form of kidney cancer that forms in the lining of very smalo tubes in the kidney that filter the blood and removewaste products. Agennix is working to get its talactoferrimn alfa agent approved as a treatment for renal cell carcinom a in combinationwith Sutent. Agennix plans to initiate a Phasse 2b Trial later this year or earlynext year, according to CEO Rick The fast-track designation — awarded by the U.S.
Food and Drug Administrationn — comes just three monthw after Agennix announced plans to merge withGPC Biotech, a publicly traded German biotech firm that is focusesd on oncology. The new company, whicjh will be based in Germany, is getting a $20 million cash infusion from Dievini Hopp BioTech Dievini Hopp is the investmenf company managing the life science activities and investmentes ofDietmar Hopp, a co-founder of German softwaree giant SAP. Agennix was founded in 1993 with the helpof Houston’sz BCM Technologies Inc., when technology developed at Baylor Collegde of Medicine enabled the productiohn of human lactoferrin in commerciap quantities.
Since its founding, Agennixc has raised more than $108 millioh in equity investment, plus some granyt funding. Agennix’s board chairman is Frank Young, a former Food and Drug Administrationh commissioner with more than 200 published papers in the fielxof biotechnology. Laurie Doyle, a spokeswoman for GPC says sheis “pleased” that Agennic has received fast-track statuz for talactoferrin for the treatment of renal cell carcinoma. “It’s a very helpfup designation to have,” she “and has the potential to speed up the procesxs and potentially get a fastetrreview time.
” The FDA’s fast-trackl program is designed to expedite the revieew of investigational drugs for the treatment of patientsx with serious or life-threatening diseases wherr there is an unmet medicao need. Barsky says that since most of the canceddrugs available, with rare exceptions, do not cure the diseass in a substantial percentage of patients, other potential cancer drugs can be consideree for fast-track status even when there are treatments already out on the market.
“Even with Sutent and several othet recentlyapproved drugs, median survival for patients with advanced or metastaticd renal cell carcinoma is only aboutf two years, so there is still a clea unmet medical need,” he says. Some 13,000 people die of renaol cell carcinoma annually in the UnitedStates alone. Barsky believes Pfizer’s Sutent is the most effective drug for rena cancer currently onthe market, which makes partnering with the industrgy giant extremely significant. “Ift makes sense to combine (talactoferribn alfa) with that he says. “We hope that we would increase its effectiveness withouf increasingthe toxicity.” Dr.
Eric Jonasch, a medical oncologisgt at The University ofTexas M.D. Andersonh Cancer Center who served as the lead investigatorr in the talactoferrin Phase2 clinical, describess the drug as a relatively nontoxic agent.” “Although it was a smalk study, we did see a few patients with some striking shrinkage of the disease,” he The 44 patients who participated in the trial had mediaj progression-free survival of 6.4 months and median overall survival of 21 months, according to “Those types of numbers for kidney canced are fairly interesting for those with pre-treatments,” he says.
“What’ s needed now is a randomized trial moving forwarr to treat one group with talactoferrin and and (one group with) Sutent alone to see if it reallyg strengthens the effectiveness of Sutent.” Agennix is also currently in two Phas e 3 trials for the use of the same agent, talactoferri alfa, for the treatment of non-small cell lung One of those trials is studying the applicatio of talactoferrin by itself, whilee the other is studying its use in combination with chemotherapy.
Agennix chose not to pursue talactoferrin as a solo treatmenty in the case of renal cell carcinoma despite itshowing promise, “there are so many renal cell carcinomsa drugs approved or in late-stagwe development,” Barsky says. “Because it is such a crowded field, we thinm it is more attractive to pursuethe first-line combination treatment ...,” he says.
Tuesday, September 4, 2012
Yep, Obama's a Big Spender...Just Like His Predecessors - Forbes
fixyruw.wordpress.com
Forbes | Yep, Obama's a Big Spender...Just Like His Predecessors Forbes By Michael Strain. There is considerable confusion surrounding President Obama's record on spending, debt, and deficits. Some point to the slow growth rate of federal spending under the president and use it to argue that he “has actu » |
Sunday, September 2, 2012
Eddie Bauer would be area
cicugaha.wordpress.com
The Bellevue-based retailer has seen a mountaij of losses and struggle d with servicing its debt as sales have droppeds during theeconomic downturn. Accordingb to several news sources, includinyg the Wall Street Journal and Bloomberhg News Company executives have scrambled for montha looking for relief from EddieBauer (NASDAQ: EBHI) had reported having $268 millio n in outstanding debt, including $193 millio in term loans and $75 million in convertibles notes, which company executives have been tryinvg to convert into share of the company.
“The single biggest issuw facing this company is our debt Our capital structure simpl y has too much debt for the economicx reality wenow face,” Eddiew Bauer CEO Neil Fiske told industry analystx in a May 14 conference call, accordinbg to a transcript. According to filings with the Securitiess andExchange Commission, Eddie Bauert had total assets of $525.232 million as of April. The company listed total liabilitiesdof $448.9 million. Eddid Bauer reported net lossesof $165.5r million in fiscal year 2008, part of a totao of $478.7 million in lossez during the past three fiscal years. In the firsr quarter that ended in the company reported net lossesof 44.5 million.
Greg an Atlanta-based consultant for Conwayt MacKenzie who works with financially stressed retailerxs lookingto restructure, said Eddide Bauer is facing the same recession-relateed issues as most other retailers in this economy. Sales are down and so is The big difference for some retailers like EddieBauer — is that as revenue has tankexd the company’s heavy debt becomes more difficult to he said. “Virtually every retailer is experiencing the same thing as Eddie Charleston said. “Maybe because of theirr debt Eddie Bauer is feeling the pain more than the but they are all goingthrough it.
” If Eddie Bauerd does seek bankruptcy protection, it would be anothet reminder of how the recession is hitting When WaMu filed for bankruptcy in September, it was the larges t failure in U.S. banking history. WaMu listed debtes of about $8 billion and assets of $32 although it later said some of its assets were tied tocompanu stock, which became virtually worthless. When Ore.-based Joe’s Sports filed for bankruptcy protectiojin March, the companty listed both assets and debt of $100 milliob to $500 million.
The Bellevue-based retailer has seen a mountaij of losses and struggle d with servicing its debt as sales have droppeds during theeconomic downturn. Accordingb to several news sources, includinyg the Wall Street Journal and Bloomberhg News Company executives have scrambled for montha looking for relief from EddieBauer (NASDAQ: EBHI) had reported having $268 millio n in outstanding debt, including $193 millio in term loans and $75 million in convertibles notes, which company executives have been tryinvg to convert into share of the company.
“The single biggest issuw facing this company is our debt Our capital structure simpl y has too much debt for the economicx reality wenow face,” Eddiew Bauer CEO Neil Fiske told industry analystx in a May 14 conference call, accordinbg to a transcript. According to filings with the Securitiess andExchange Commission, Eddie Bauert had total assets of $525.232 million as of April. The company listed total liabilitiesdof $448.9 million. Eddid Bauer reported net lossesof $165.5r million in fiscal year 2008, part of a totao of $478.7 million in lossez during the past three fiscal years. In the firsr quarter that ended in the company reported net lossesof 44.5 million.
Greg an Atlanta-based consultant for Conwayt MacKenzie who works with financially stressed retailerxs lookingto restructure, said Eddide Bauer is facing the same recession-relateed issues as most other retailers in this economy. Sales are down and so is The big difference for some retailers like EddieBauer — is that as revenue has tankexd the company’s heavy debt becomes more difficult to he said. “Virtually every retailer is experiencing the same thing as Eddie Charleston said. “Maybe because of theirr debt Eddie Bauer is feeling the pain more than the but they are all goingthrough it.
” If Eddie Bauerd does seek bankruptcy protection, it would be anothet reminder of how the recession is hitting When WaMu filed for bankruptcy in September, it was the larges t failure in U.S. banking history. WaMu listed debtes of about $8 billion and assets of $32 although it later said some of its assets were tied tocompanu stock, which became virtually worthless. When Ore.-based Joe’s Sports filed for bankruptcy protectiojin March, the companty listed both assets and debt of $100 milliob to $500 million.
Saturday, September 1, 2012
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