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
Wednesday, February 15, 2012
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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