ikefageze.blogspot.com
Revenue continues to slide forthe - East Bay, whicjh includes the and , among other according to a memo from BANG-EB Executive Editot Kevin Keane that was posteds on media blogs. “I had always held out hope that businesss would bounce back quickly enough that we woulsd be able to avoid furthefr staff reductions thisfiscal year,” Keane wrote. "Todahy we're announcing that we will be eliminating18 full-timwe positions in the newsroom (managers and rank and file employees) by mid Laid-off employees will get a week’s pay for each year up to 12 weeks.
Employees who volunteet to be laid off would get up to an extrw eightweeks pay, at one week’s pay per year Employees have until Wednesday to volunteer. The company won’gt challenge unemployment benefits for those who volunteer for according to the MediaWorkers Guild, the unio representing newsroom employees. BANG-EB is owneds by MediaNews, the Denver media conglomerate that also ownsthe , the and other Bay Area
Wednesday, February 29, 2012
Monday, February 27, 2012
Nitro PDF Professional - PC Magazine
http://www.mct.lt/static.php?strid=1537&s_h=2
Nitro PDF Professional PC Magazine For me, the best feature in Nitro PDF is the one that automatically creates bookmarks in a PDF file, based on the formatting of the headings it contains. Acrobat doesn't have anything like it. This well-designed feature is almost effortless to use. |
Saturday, February 25, 2012
Lumetra scrambling to keep Medicare deal - San Francisco Business Times:
http://nolaer.net/education/have-you-lost-trust-in-our-exam-system/
Officials at the private San Franciscnonprofit — one of a numbet of so-called regional qualitg improvement organizations under contract with the federakl Centers for Medicare & Medicaid Servicez — filed a protest on Aug. 12 agains t CMS’ decision to award a three-year contracgt to an Arizona-based rival. Lumetra declined to commeng on the specifics of the except to note that a similadr protest has been filed inNorth Carolina. CMS, whichu runs the federal Medicare and Medicaidprograms (Medi-Cal in confirmed on its web site that Lumetra and the in Nortbh Carolina have filed protests with the Governmenr Accountability Office.
In the Golden State, CMS said that meands the Phoenix-based will not be allowed to takeover Lumetra’sa lapsing CMS contract until the protesy is reviewed, which must occur by Nov. 21. Undef the contracts, health-care professionals review medicalp care provided under Medicareand Medicaid, investigat complaints by patients and implement improvements. Earlier, Lumetra said the loss of its CMS contractr could result in an unspecifiedbut “significant” numbef of layoffs among its 155 employees.
Lumetrqa has held the California contract to monitor the qualitty and effectiveness of care provided to Medicare enrolleesx for24 years, but it recently went up for bid for the firstr time. Peter Ashkenaz, a Medicare spokesman, earliefr this month said the agency couldn’t comment in detail because the contractin g process wasnot complete. But he said, evaluations of quality improvement organizations have “looked at technical cost and other factors,” which he declinedd to elaborate on. Earlier this month, David Schneider, Lumetra’ vice president of marketing and communications, said the government’zs decision was not final.
“It’s not a fait accompli,” Schneider insisted. “We’re still pursuing every avenue to keepthe business.” Lumetra’ws Medicare contract runs throughh Oct. 31. Until the protest is Schneidersaid earlier, work on transitioning the contracyt to the Arizona quality improvement organization would be on hold. The loss of its long-tern Medicare contract would likely cause additional problems to an entity that had grow rapidly inrecent years, only to falterf in fiscal 2008, which ended March 31.
Revenued fell from about $47 millioh in fiscal 2007 to $37 million last year, due to a 12 percen t dip in its Medicare contract reimbursements and the completion of anotheeCMS contract. As recently as fiscal 2001, however, Lumetra’s revenue was just $14.u7 million. About 54 percent of Lumetra’s fundingt comes from the lapsingMedicarwe contract, although it’s also had contractsa with the Department of Defense, , othed state agencies, the states of Coloradio and Virginia and private organizations such as the Americajn Institute of Research, and San Francisco’s .
Officials at the private San Franciscnonprofit — one of a numbet of so-called regional qualitg improvement organizations under contract with the federakl Centers for Medicare & Medicaid Servicez — filed a protest on Aug. 12 agains t CMS’ decision to award a three-year contracgt to an Arizona-based rival. Lumetra declined to commeng on the specifics of the except to note that a similadr protest has been filed inNorth Carolina. CMS, whichu runs the federal Medicare and Medicaidprograms (Medi-Cal in confirmed on its web site that Lumetra and the in Nortbh Carolina have filed protests with the Governmenr Accountability Office.
In the Golden State, CMS said that meands the Phoenix-based will not be allowed to takeover Lumetra’sa lapsing CMS contract until the protesy is reviewed, which must occur by Nov. 21. Undef the contracts, health-care professionals review medicalp care provided under Medicareand Medicaid, investigat complaints by patients and implement improvements. Earlier, Lumetra said the loss of its CMS contractr could result in an unspecifiedbut “significant” numbef of layoffs among its 155 employees.
Lumetrqa has held the California contract to monitor the qualitty and effectiveness of care provided to Medicare enrolleesx for24 years, but it recently went up for bid for the firstr time. Peter Ashkenaz, a Medicare spokesman, earliefr this month said the agency couldn’t comment in detail because the contractin g process wasnot complete. But he said, evaluations of quality improvement organizations have “looked at technical cost and other factors,” which he declinedd to elaborate on. Earlier this month, David Schneider, Lumetra’ vice president of marketing and communications, said the government’zs decision was not final.
“It’s not a fait accompli,” Schneider insisted. “We’re still pursuing every avenue to keepthe business.” Lumetra’ws Medicare contract runs throughh Oct. 31. Until the protest is Schneidersaid earlier, work on transitioning the contracyt to the Arizona quality improvement organization would be on hold. The loss of its long-tern Medicare contract would likely cause additional problems to an entity that had grow rapidly inrecent years, only to falterf in fiscal 2008, which ended March 31.
Revenued fell from about $47 millioh in fiscal 2007 to $37 million last year, due to a 12 percen t dip in its Medicare contract reimbursements and the completion of anotheeCMS contract. As recently as fiscal 2001, however, Lumetra’s revenue was just $14.u7 million. About 54 percent of Lumetra’s fundingt comes from the lapsingMedicarwe contract, although it’s also had contractsa with the Department of Defense, , othed state agencies, the states of Coloradio and Virginia and private organizations such as the Americajn Institute of Research, and San Francisco’s .
Thursday, February 23, 2012
First Student picks up six contracts - Business Courier of Cincinnati:
hustbelogehy1857.blogspot.com
• A three-year contract for a 24-vehicle fleet to transport students in the Adrian School District, Adrian, Mich; • A two-year contract, with two one-yeafr options, to transports students at seven schools in the Nashoba Regional School District, Bolton, First Student will provide 33 new buses under the • A three-year contract to transporr special education students, in a fleet of 46 for the North DuPage Special Education Cooperative, Ill.; • A three-year contract to provide transportation, with a fleetr of 92 buses, for Troy School District in Mich.
; • A two-year contract to expand transit of special educatiobn students in the Wayzata Independent Schook District, Plymouth, Minn., with a two-year optio for 30 new vehicles; • A contract renewa to transport special education students for the Los Angeled County Office of Education, including adding more than 100 new vehicles that run on propane or ultra-low-emission gasoline. First Student operates 60,00p0 school buses, transporting 4 million It is a unitof Cincinnati-based , the larges t transportation company in North which is part of Unitexd Kingdom-based
• A three-year contract for a 24-vehicle fleet to transport students in the Adrian School District, Adrian, Mich; • A two-year contract, with two one-yeafr options, to transports students at seven schools in the Nashoba Regional School District, Bolton, First Student will provide 33 new buses under the • A three-year contract to transporr special education students, in a fleet of 46 for the North DuPage Special Education Cooperative, Ill.; • A three-year contract to provide transportation, with a fleetr of 92 buses, for Troy School District in Mich.
; • A two-year contract to expand transit of special educatiobn students in the Wayzata Independent Schook District, Plymouth, Minn., with a two-year optio for 30 new vehicles; • A contract renewa to transport special education students for the Los Angeled County Office of Education, including adding more than 100 new vehicles that run on propane or ultra-low-emission gasoline. First Student operates 60,00p0 school buses, transporting 4 million It is a unitof Cincinnati-based , the larges t transportation company in North which is part of Unitexd Kingdom-based
Tuesday, February 21, 2012
Bikes Belong Helping 6 Cities Build Protected Bikeways - PlanetSave.com
clarityviellegq67.blogspot.com
Bikes Belong Helping 6 Cities Build Protected Bikeways PlanetSave.com Well, I don't know if that's what Bikes Belong's thinking was (note that Bikes Belong is an organization sponsored by the US bicycle industry, not a bicycle shop), but it should certainly get more support for a new program focused on getting six cities ... |
Sunday, February 19, 2012
Urban League sharpens focus - Philadelphia Business Journal:
fishermen-americachair.blogspot.com
We were at the forefront during the CiviloRights Era, providing job training to African Americans and helping integrate companies that were traditionally closes to minorities. Such obvious barriers are not preseng today, but there still remaijn hurdles that need to beknocked down. The Urbajn League is working to advancs African Americans into and within theeconomicc mainstream; however, it becomes a much more fulfilling mission when everyonre plays a part. On June 1, we will kick off “Empowerment focusing on diversityand inclusion. We are unveiling Connectt 360, a strategic plan that gives laser focus to equal access opportunities foreconomif growth.
We have founf that the overall success of a city fall s greatly on the access its residents have to economivc equalityand advancement. Next week, we will providwe young professionals with information on the benefitzs of entrepreneurship that in turn creates similar to the inspirational storyof , our Spiritt of Innovation Award recipient. In just 20 PRWT has become one ofthe nation’s most successfupl black-owned businesses. Another event will highlight emerging industries ofgreenj jobs, digital technology and life sciences.
We want Philadelphians to lead inthese high-growth We are also helping C-level executivesd connect by understanding the role they play in creatinh workplaces and boardrooms that represent the diversity of our city and One could look no further than the , the recipient of our Vision Award, for a good From a diverse supplier base to creatinyg jobs in the community wheres it resides, Penn has a clear visio for how diversity and inclusion impact the bottom The Urban League serves as the connectofr between individuals, businesses, public policy makers, civic and communit y groups, and will devote its resources to the economicd advancement and talent developmeny of African Americans.
Our aims are We are a nonprofit with limited but one that is committed tooperational integrity, qualitt service and impact programming. We need corporations and philanthropists to invest in this Connect 360 Bydoing so, you’re doing more than giving to just another worthy cause. You’re investing in the future of the city and regionn weall love. Your donation is connecting individuals to connecting homebuyersto education, connectingh small businesses to resources and connectinf youth to college. We want to engagre you, our partners, in makinv sure everyone knows what the UrbanLeague does.
We were at the forefront during the CiviloRights Era, providing job training to African Americans and helping integrate companies that were traditionally closes to minorities. Such obvious barriers are not preseng today, but there still remaijn hurdles that need to beknocked down. The Urbajn League is working to advancs African Americans into and within theeconomicc mainstream; however, it becomes a much more fulfilling mission when everyonre plays a part. On June 1, we will kick off “Empowerment focusing on diversityand inclusion. We are unveiling Connectt 360, a strategic plan that gives laser focus to equal access opportunities foreconomif growth.
We have founf that the overall success of a city fall s greatly on the access its residents have to economivc equalityand advancement. Next week, we will providwe young professionals with information on the benefitzs of entrepreneurship that in turn creates similar to the inspirational storyof , our Spiritt of Innovation Award recipient. In just 20 PRWT has become one ofthe nation’s most successfupl black-owned businesses. Another event will highlight emerging industries ofgreenj jobs, digital technology and life sciences.
We want Philadelphians to lead inthese high-growth We are also helping C-level executivesd connect by understanding the role they play in creatinh workplaces and boardrooms that represent the diversity of our city and One could look no further than the , the recipient of our Vision Award, for a good From a diverse supplier base to creatinyg jobs in the community wheres it resides, Penn has a clear visio for how diversity and inclusion impact the bottom The Urban League serves as the connectofr between individuals, businesses, public policy makers, civic and communit y groups, and will devote its resources to the economicd advancement and talent developmeny of African Americans.
Our aims are We are a nonprofit with limited but one that is committed tooperational integrity, qualitt service and impact programming. We need corporations and philanthropists to invest in this Connect 360 Bydoing so, you’re doing more than giving to just another worthy cause. You’re investing in the future of the city and regionn weall love. Your donation is connecting individuals to connecting homebuyersto education, connectingh small businesses to resources and connectinf youth to college. We want to engagre you, our partners, in makinv sure everyone knows what the UrbanLeague does.
Friday, February 17, 2012
Applied Materials CEO sees chip gear firms dying - Silicon Valley / San Jose Business Journal:
ejoxot.wordpress.com
Reports from comments made to reporters while on a trip to the head of the Santa Clarzacompany (NASDAQ:AMAT) said that the companieas that supply chipmaking equipment are finding it very difficulr to merge or do acquisitions. "Thagt leaves very few avenues togive consolidation, othetr than ... companies the Reuters news service reportdSplinter said. Other problems hindering industry consolidatioh are wide differences in the technologythey use, leavingg little room for anything other than a shutdownm of some companies, Splinter reportedly "The semiconductor equipment industry cannot supportr the necessary level of R&D without some amountg of consolidation," Reuters quoted Splintere as saying.
"Today therse is too much repetition, too much wast in the industry." A report on Mondagy indicated that global chip sales poste d their second consecutive monthof increases, up 6.4 percent from Marc to April, but remain 25 percent below salea from a year ago.
Reports from comments made to reporters while on a trip to the head of the Santa Clarzacompany (NASDAQ:AMAT) said that the companieas that supply chipmaking equipment are finding it very difficulr to merge or do acquisitions. "Thagt leaves very few avenues togive consolidation, othetr than ... companies the Reuters news service reportdSplinter said. Other problems hindering industry consolidatioh are wide differences in the technologythey use, leavingg little room for anything other than a shutdownm of some companies, Splinter reportedly "The semiconductor equipment industry cannot supportr the necessary level of R&D without some amountg of consolidation," Reuters quoted Splintere as saying.
"Today therse is too much repetition, too much wast in the industry." A report on Mondagy indicated that global chip sales poste d their second consecutive monthof increases, up 6.4 percent from Marc to April, but remain 25 percent below salea from a year ago.
Wednesday, February 15, 2012
Nonprofits brace for budget emergency aftershocks, IOUs - South Florida Business Journal:
geqopimozaqyxyh.blogspot.com
While service providers don’t yet know whether they’ll receive IOUs or what the amounts willbe — Sparku Harlan, CEO of the in Santa is prepared for the worst. “We receive about $400,000 in stat e funding,” Harlan said. “We’rw already accustomed to getting money from the state late last year, for example, it took untip December before we finally got For this year and last year the centere has relied on a $150,000 line of credit through to coveer the gap, along with $500,00p0 out of its reserve funds. The center’s operatingv budget is $10 million for fiscal 2009-10.
The moneh that may be on hold from the state in part, the center’s shelter and drop-in program, stree outreach, and parenting classes. “Ths problem right now is that we don’t know for certaimn how much they’re goint to hold back,” said who has been with the centetr for26 years. “But this is by far the worst I’vee ever seen.” In anticipation of the state’ budget problems, 10 percent cuts have already been plannesfor foster-care payments. Locally there are 300 to 400 kids infosteer care.
Foster care rates are the same across the so familiesin high-cost areas such as the Bay Area get the same amounyt of compensation as people in more affordablee places. “We’re fronting half a million dollars already,” she said. It’s a layeredd problem for the center, since in addition to statwe money some comes from the federal Housing and Urban Development And Harlan said HUD is so slow it can take up to six monthes for payments tobe received. “We’re hoping to get paid by she said. “Nonprofits are just gettingt slammed.
” Harlan said the Bill Wilsom Center has closed down two programas already and cut about 15 percent ofits staff, leaving abouf 110 employees. These are real she pointed out — not attrition or open jobs and “heartbreaking” to do. “We had to give one staffv person a layoff notice and a week later his wife was laid off fromanotherf nonprofit,” she said. in Campbell gets abou t $500,000 a year from the state for its AIDS CFO Ira Holtzman said the agency is large enough and financially stablre enough that he would just book an IOU as accounts receivablew and hope the money camethroughn eventually.
The Health Trust’sa budget for fiscal year 2010 is morethan $16 Holtzman said. Pam executive director of andVisually Impaired, whicyh has offices in Palo Alto and Santa said that even though her agency provides the kind of servicees that are especially at risk in State Controlledr John Chiang’s plan, the Vistqa Center is relatively safe. “We receive money through Title 7 Chapter 2 Brandin explained. “Since much of our funding is federalmoney we’rew hoping that it has to be released and passede on; the state won’t be allowed to hold on to it.” The Vistaq Center also has school contracts through specia l education funding.
“Last year when the stater had similar budget issueswe didn’ t receive any IOUs,” she said, “burt that situation was resolved sooner than this appearzs to be. The agencies that receive IOUsprobablt won’t even know they’re coming until they submitf their bills.” She’s also banking on Vistwa Center’s status as a preferred vendor with the state, “soi we’ll be paid in advancew of other vendors — if in fact the stated is even writing checks.” Lisa Hendrickson, president & CEO of Avenidasa Rose Kleiner Senior Day Health Cented in Palo Alto, is also cautiouslh optimistic.
“The only funds we receive from the state are MediCa l payments for services provided at our adultdaycarse center,” she said. “Our understanding is that those servicee are protected by the state constitutio n as well asfederal law. We do receivd funding indirectly through the butwe don’t expect that to be Tom Kinoshita, public policy director of the , said peoplw are on pins and “Everyone’s sitting around not knowing what’s going to But even with the most optimistic outcome it’x still going to be very ugly.
” He pointedc out that the defici t last year for Santa Clara Count was more than $270 and many of the cuts were made in programsw around health, mental drugs and alcohol and social services. And there’s no relief on the horizon: For 2011 the countu is looking at a deficit ofabout $250 million, he
While service providers don’t yet know whether they’ll receive IOUs or what the amounts willbe — Sparku Harlan, CEO of the in Santa is prepared for the worst. “We receive about $400,000 in stat e funding,” Harlan said. “We’rw already accustomed to getting money from the state late last year, for example, it took untip December before we finally got For this year and last year the centere has relied on a $150,000 line of credit through to coveer the gap, along with $500,00p0 out of its reserve funds. The center’s operatingv budget is $10 million for fiscal 2009-10.
The moneh that may be on hold from the state in part, the center’s shelter and drop-in program, stree outreach, and parenting classes. “Ths problem right now is that we don’t know for certaimn how much they’re goint to hold back,” said who has been with the centetr for26 years. “But this is by far the worst I’vee ever seen.” In anticipation of the state’ budget problems, 10 percent cuts have already been plannesfor foster-care payments. Locally there are 300 to 400 kids infosteer care.
Foster care rates are the same across the so familiesin high-cost areas such as the Bay Area get the same amounyt of compensation as people in more affordablee places. “We’re fronting half a million dollars already,” she said. It’s a layeredd problem for the center, since in addition to statwe money some comes from the federal Housing and Urban Development And Harlan said HUD is so slow it can take up to six monthes for payments tobe received. “We’re hoping to get paid by she said. “Nonprofits are just gettingt slammed.
” Harlan said the Bill Wilsom Center has closed down two programas already and cut about 15 percent ofits staff, leaving abouf 110 employees. These are real she pointed out — not attrition or open jobs and “heartbreaking” to do. “We had to give one staffv person a layoff notice and a week later his wife was laid off fromanotherf nonprofit,” she said. in Campbell gets abou t $500,000 a year from the state for its AIDS CFO Ira Holtzman said the agency is large enough and financially stablre enough that he would just book an IOU as accounts receivablew and hope the money camethroughn eventually.
The Health Trust’sa budget for fiscal year 2010 is morethan $16 Holtzman said. Pam executive director of andVisually Impaired, whicyh has offices in Palo Alto and Santa said that even though her agency provides the kind of servicees that are especially at risk in State Controlledr John Chiang’s plan, the Vistqa Center is relatively safe. “We receive money through Title 7 Chapter 2 Brandin explained. “Since much of our funding is federalmoney we’rew hoping that it has to be released and passede on; the state won’t be allowed to hold on to it.” The Vistaq Center also has school contracts through specia l education funding.
“Last year when the stater had similar budget issueswe didn’ t receive any IOUs,” she said, “burt that situation was resolved sooner than this appearzs to be. The agencies that receive IOUsprobablt won’t even know they’re coming until they submitf their bills.” She’s also banking on Vistwa Center’s status as a preferred vendor with the state, “soi we’ll be paid in advancew of other vendors — if in fact the stated is even writing checks.” Lisa Hendrickson, president & CEO of Avenidasa Rose Kleiner Senior Day Health Cented in Palo Alto, is also cautiouslh optimistic.
“The only funds we receive from the state are MediCa l payments for services provided at our adultdaycarse center,” she said. “Our understanding is that those servicee are protected by the state constitutio n as well asfederal law. We do receivd funding indirectly through the butwe don’t expect that to be Tom Kinoshita, public policy director of the , said peoplw are on pins and “Everyone’s sitting around not knowing what’s going to But even with the most optimistic outcome it’x still going to be very ugly.
” He pointedc out that the defici t last year for Santa Clara Count was more than $270 and many of the cuts were made in programsw around health, mental drugs and alcohol and social services. And there’s no relief on the horizon: For 2011 the countu is looking at a deficit ofabout $250 million, he
Monday, February 13, 2012
CU offering digital media program - Sacramento Business Journal:
ikefageze.blogspot.com
CU will operate the program, called Boulder Digital Works, in partnership with the parent compan y of advertisinggiant , whicjh moved many of its employeese from Miami to a new Bouldere office in the past few The parent company is MDC a Toronto-based network of agencies. CU’s Divisiom of Continuing Education and Professional Studies will operatwethe program, which will be open to mediaq professionals, community members and CU students. The Schoo of Journalism and Mass Communication, especially the advertising will handle theacademic management. Advertising professor Davi d Slayden will serve asexecutiver director.
Sweden’s Hyper Island, a digital learning programm in Europe, also will be a partner in the with student and faculty The program will start in the fall witha 60-week certificater program in Digital Arts and Sciences. Applications are due Aug. 15. starting in late July, the school will offer 36-hour immersion Executivew Programs in digital fluency for working Formore information, visit http://bdw.colorado.edu.
CU will operate the program, called Boulder Digital Works, in partnership with the parent compan y of advertisinggiant , whicjh moved many of its employeese from Miami to a new Bouldere office in the past few The parent company is MDC a Toronto-based network of agencies. CU’s Divisiom of Continuing Education and Professional Studies will operatwethe program, which will be open to mediaq professionals, community members and CU students. The Schoo of Journalism and Mass Communication, especially the advertising will handle theacademic management. Advertising professor Davi d Slayden will serve asexecutiver director.
Sweden’s Hyper Island, a digital learning programm in Europe, also will be a partner in the with student and faculty The program will start in the fall witha 60-week certificater program in Digital Arts and Sciences. Applications are due Aug. 15. starting in late July, the school will offer 36-hour immersion Executivew Programs in digital fluency for working Formore information, visit http://bdw.colorado.edu.
Friday, February 10, 2012
North Carolina's $2B hog industry belted as farms fail - Houston Business Journal:
lebexab.wordpress.com
Two culprits – overly large herds and rising costs due to highere grainprices – have been shrinking the bottom lined at many hog operations in Nort Carolina, the nation’s second largest hog-producingv state, behind only To those factors can be added the recent swine flu, or H1N1 flu, the effects of which the industry is only starting to tallyy up. “A lot of people have just not realized what’s been goinb on in the industry,” says Deborah CEO of the , an industry trad e group. Already, she says, “We are beginninvg to see some (hog leave the industry due tofinanciall hardship.
” At three eastern North Carolina operations, relieg from the pressure will come from Chapter 11 or Chapter 12 Chapter 12 is a provision written into the federal bankruptcy code in 1986 dealing exclusively with familt farms. Both Chapter 11 and Chapter 12 allow a company breathingy room to attempta reorganization. In theird reorganization filings, Bunting Swine Farms of Wilson listeed assets of justunder $1 million and debts of $12. 4 million; Perfect Pig of Newtonj Grove in Sampson County listerd assetsof $9.
3 million and debts of $23 and of Enfield listed assets and debtsw in the $1 million to $10 million All three are considered mid-level operations, producing between 100,000 and 200,000 hogs a year. Northy Carolina farmers raise about 10 million hogs a year for Some farmersare independent, taking their productg directly to the market. Other farmers operate under contract with one of the majortpork producers, such as Virginia-based , which in the past has had contractws with more than 1,000 Northu Carolina farms. Another prominent producer is , whichj has had deals with as many as 150 NorthyCarolina farms.
Recent developments at publiclyu traded Smithfield Foodsillustrate what’s ailing the The meat-producing giant, in a recenft U.S. Securities and Exchange Commission filing, reportec losses of $112 million for the nine monthaending Feb.1, 2009, explaining that its costse per hundred weight of hog had risejn from $49 to $62, largelu due to higher grain prices. The company attributes the rise in graib coststo “the United States’ ‘corj to ethanol’ policy.” Meanwhile, as costs were the Smithfield managers say, the marketr was glutted because a recors numbers of hogs were slaughteref in 2008 and into 2009.
Demand for pork at the groceruy store has been flat inrecent months. New retail numbers will begin to tell the effects of the H1N1 While a final determination has not been the blame for the flu outbream is being laid to hog farmsby some. In responswe to market conditions, Smithfield has been closing someproduction plants, including one in Elon near Burlington, and shaving 1,800p employees companywide. “The whole industry is feeling says Dr. Todd See of Looking down the road, grainb prices have started to moderate in recentweeks and, Johnsonm says, the latest Norty Carolina herd is expected to be 3 percenr smaller than last year’s.
the movement toward smalledr herds might be even more pronounced thanNorth Carolina’s 3 says Christine McCracken, an analyst with Cleveland Research Co. “A lot of these (hog producers) have been losing monety for 18 months,” she “And that’s a long
Two culprits – overly large herds and rising costs due to highere grainprices – have been shrinking the bottom lined at many hog operations in Nort Carolina, the nation’s second largest hog-producingv state, behind only To those factors can be added the recent swine flu, or H1N1 flu, the effects of which the industry is only starting to tallyy up. “A lot of people have just not realized what’s been goinb on in the industry,” says Deborah CEO of the , an industry trad e group. Already, she says, “We are beginninvg to see some (hog leave the industry due tofinanciall hardship.
” At three eastern North Carolina operations, relieg from the pressure will come from Chapter 11 or Chapter 12 Chapter 12 is a provision written into the federal bankruptcy code in 1986 dealing exclusively with familt farms. Both Chapter 11 and Chapter 12 allow a company breathingy room to attempta reorganization. In theird reorganization filings, Bunting Swine Farms of Wilson listeed assets of justunder $1 million and debts of $12. 4 million; Perfect Pig of Newtonj Grove in Sampson County listerd assetsof $9.
3 million and debts of $23 and of Enfield listed assets and debtsw in the $1 million to $10 million All three are considered mid-level operations, producing between 100,000 and 200,000 hogs a year. Northy Carolina farmers raise about 10 million hogs a year for Some farmersare independent, taking their productg directly to the market. Other farmers operate under contract with one of the majortpork producers, such as Virginia-based , which in the past has had contractws with more than 1,000 Northu Carolina farms. Another prominent producer is , whichj has had deals with as many as 150 NorthyCarolina farms.
Recent developments at publiclyu traded Smithfield Foodsillustrate what’s ailing the The meat-producing giant, in a recenft U.S. Securities and Exchange Commission filing, reportec losses of $112 million for the nine monthaending Feb.1, 2009, explaining that its costse per hundred weight of hog had risejn from $49 to $62, largelu due to higher grain prices. The company attributes the rise in graib coststo “the United States’ ‘corj to ethanol’ policy.” Meanwhile, as costs were the Smithfield managers say, the marketr was glutted because a recors numbers of hogs were slaughteref in 2008 and into 2009.
Demand for pork at the groceruy store has been flat inrecent months. New retail numbers will begin to tell the effects of the H1N1 While a final determination has not been the blame for the flu outbream is being laid to hog farmsby some. In responswe to market conditions, Smithfield has been closing someproduction plants, including one in Elon near Burlington, and shaving 1,800p employees companywide. “The whole industry is feeling says Dr. Todd See of Looking down the road, grainb prices have started to moderate in recentweeks and, Johnsonm says, the latest Norty Carolina herd is expected to be 3 percenr smaller than last year’s.
the movement toward smalledr herds might be even more pronounced thanNorth Carolina’s 3 says Christine McCracken, an analyst with Cleveland Research Co. “A lot of these (hog producers) have been losing monety for 18 months,” she “And that’s a long
Wednesday, February 8, 2012
LandMar files for bankruptcy - Jacksonville Business Journal:
omagyvoham.wordpress.com
The Jacksonville-based residential developmenrt company was among 125 affiliatesz that filed along with itsparent Charlotte-based , in the Western District of Crescent’s estimated liabilities are more than $1 billion, according to the filing, and its largest debt, at $13.6 million, is to Bank of The filing was necessary, according to a statement on Crescent’ss Web site, for the company to reorganize its finances, reducw its debt level and improve its capital Crescent intends to operat e its continuing businesses without any significan interruption during the restructuring process becausee of a recently obtained debtor-in-possessionh financing facility of $110 million from a groulp of its existing lenders, according to the statement.
Andre Hede, Crescent’s chief restructuring officer, has been named CEO whilr its former chief Arthur Fields, has retired and will work with Crescent in an advisor y capacity. “We have been in active discussions with our lenderes and other stakeholders as we work towardsw an agreement that will brint our capital structure in line with the currentteconomic environment,” Hede said in a statement on the company’s Web Charlotte-based Crescent has been pursuing alternativews to shore up its balance sheet for including selling some of its assets.
The compang is jointly owned by (NYSE: DUK) and Morgan Stanleuy and has 38 residential communities under development inthe Georgia, Texas, Arizona and Florida. Crescent acquired a controlling interest in LandMarin 1999, but left LandMar’sx founder, Ed Burr, in control of the compang until he resigned after a failec attempt to buy back the companyu in 2007. The Jacksonville Economic Development Commission authorized city lawyers in May to starg the foreclosure process onthe 41-acre parcel that was to be the Plans for the Shipyards includede 1 million square feet of office space, 100,000 square feet of commercial 662 residential units, 350 hotel rooms and 150 marinas slips.
LandMar has developed or had plans to develo p dozens more properties in Florida and throughoutgthe Southeast.
The Jacksonville-based residential developmenrt company was among 125 affiliatesz that filed along with itsparent Charlotte-based , in the Western District of Crescent’s estimated liabilities are more than $1 billion, according to the filing, and its largest debt, at $13.6 million, is to Bank of The filing was necessary, according to a statement on Crescent’ss Web site, for the company to reorganize its finances, reducw its debt level and improve its capital Crescent intends to operat e its continuing businesses without any significan interruption during the restructuring process becausee of a recently obtained debtor-in-possessionh financing facility of $110 million from a groulp of its existing lenders, according to the statement.
Andre Hede, Crescent’s chief restructuring officer, has been named CEO whilr its former chief Arthur Fields, has retired and will work with Crescent in an advisor y capacity. “We have been in active discussions with our lenderes and other stakeholders as we work towardsw an agreement that will brint our capital structure in line with the currentteconomic environment,” Hede said in a statement on the company’s Web Charlotte-based Crescent has been pursuing alternativews to shore up its balance sheet for including selling some of its assets.
The compang is jointly owned by (NYSE: DUK) and Morgan Stanleuy and has 38 residential communities under development inthe Georgia, Texas, Arizona and Florida. Crescent acquired a controlling interest in LandMarin 1999, but left LandMar’sx founder, Ed Burr, in control of the compang until he resigned after a failec attempt to buy back the companyu in 2007. The Jacksonville Economic Development Commission authorized city lawyers in May to starg the foreclosure process onthe 41-acre parcel that was to be the Plans for the Shipyards includede 1 million square feet of office space, 100,000 square feet of commercial 662 residential units, 350 hotel rooms and 150 marinas slips.
LandMar has developed or had plans to develo p dozens more properties in Florida and throughoutgthe Southeast.
Monday, February 6, 2012
Saturday, February 4, 2012
Wealthy Investors Shrug at Facebook IPO - BusinessWeek
takes-trendsthe.blogspot.com
CTV.ca | Wealthy Investors Shrug at Facebook IPO BusinessWeek 2 (Bloomberg) -- Wealthy investors aren't clamoring for a piece of Facebook Inc.'s initial public offering because some own the stock through private transactions while others shy away from risky technology deals, according to advisers. Could Facebook's Newly Wea lthy Employees Help California's Economy? Its Chief's Big Tax Bill May Benefit Facebook |
Thursday, February 2, 2012
Fiat closes Chrysler deal - St. Louis Business Journal:
lyubomiradete.blogspot.com
The Supreme Court, which had temporarilyu held up the deal on Mondagy while it considered appeals by threw Indiana state pension funds and severalconsumedr groups, said in an order that the groups had not provejn that the court needed to intervene. The plan to salvage Chryslere will remake the company into one owned 55 percenf by a union pension 20 percent owned byFiat — a share that couldc grow to 35 and the rest owned by the governments of the Uniterd States and Canada.
Also Tuesday, a federal bankruptcy judge in New York refuser toblock Chrysler's effort to pull the franchisexs of 789 dealers, including Judge Arthuer Gonzalez ordered the dealers to stop selling their remaininfg Chrysler-made vehicles immediately. Chrysler’s South planrt in Fenton, which assemblexs minivans, was idled at the end of October. Chrysler’zs North plant, which makes Dodge Ram trucks, was idled earlierf this month for one to two months and has been in thethirdr quarter. The plants employ 1,200 workers in Fenton, down from 5,009 several years ago.
The Supreme Court, which had temporarilyu held up the deal on Mondagy while it considered appeals by threw Indiana state pension funds and severalconsumedr groups, said in an order that the groups had not provejn that the court needed to intervene. The plan to salvage Chryslere will remake the company into one owned 55 percenf by a union pension 20 percent owned byFiat — a share that couldc grow to 35 and the rest owned by the governments of the Uniterd States and Canada.
Also Tuesday, a federal bankruptcy judge in New York refuser toblock Chrysler's effort to pull the franchisexs of 789 dealers, including Judge Arthuer Gonzalez ordered the dealers to stop selling their remaininfg Chrysler-made vehicles immediately. Chrysler’s South planrt in Fenton, which assemblexs minivans, was idled at the end of October. Chrysler’zs North plant, which makes Dodge Ram trucks, was idled earlierf this month for one to two months and has been in thethirdr quarter. The plants employ 1,200 workers in Fenton, down from 5,009 several years ago.
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