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But rather than put the brakeson , which he founded in 1996, Rice, 64, brought in longtime friend Gary Watson as an investor last July to help him expand the In early May, the pair moved the company’s operations from an apartmenty complex Rice owns to leasee space at 954 E. Kentucky St. in Germantown. They also hired officw manager Kim Barnett to handld accounting andmarketing duties. Watson, through face-to-face and Barnett, through telephone marketing, have continued to add Now Rice envisions a day whenhe won’t have to handled administrative duties or drive trucks to Ohio, or Washington, D.C.
Rice said he’es at the point in his careeerwhere he’d rather sit on his boat in the middlre of a lake and think about Expeditefd Trucking’s success while casting another line. “Being in this busineszs for 13 yearsis remarkable, but I couldn’tf do it by myself anymore because it was just gettin g too big,” said Rice, who left a 34-year career with Fetted Printing Co. in 1997 to begin the “Gary is younger than I am, and I know he and Kim can do a greatt job buildingthis business.
” Expeditex Trucking has found a niche in takinyg some of the small business that the large r companies don’t have time for, Rice The company got its startr hauling pallets of materials primarily for printing companies but has branched out to serve other It will haul most types of dry with the exception of hazardous materials, Watson said. Rather than owninv a fleet of vehicles, the company leases vans and straight trucksd on demand from Penske and Enterprise Commercial The approach removes the cost of preventativemaintenance work, oil changes, license plates and other expensesx that come with owning a truck Watson said.
“When I got here, I was amazed at the rates (Rice) was getting for trucks,” said Watson, 59, who has more than 30 yearzs of sales experience in thetrucking industry. “Thia is such a smart way to go for a businesszour size.” Being a small business also allowx Expedited Trucking to offer a persona l touch, Watson said. “Th e business has changed so much. Now the big companiesz do everythingby computer, and the personal level is gone,” Watson said. “Our customersx know they can pick up the phond and talk to one ofus directly. That meanxs a lot to them.
” Expedited Truckingt has gone the route of many householde by operating on a cash only basis rather than puttin expenses on acredit card. It’s somewhat unusual for a truckingv company to send a driver on the road with a pocket full of cash rathef than a credit but it’s an approach that co-owner Jack Rice said works well for his business. “The drivers are good about bringing back all receiptw and leftover cash they Rice said. “If we happe n to underestimatethe cost, the drivers will put what they need on their personal cards or pay cash, and we will promptlyg reimburse them.
“It’s not always easy, especially when cash flow’e low,” Rice added. “But at the end of the it’s nice knowing you’re not going to be getting some big credigt card bill or fuel bill and wondering wherrthe money’s going to come from.”
Thursday, April 12, 2012
Tuesday, April 10, 2012
Madoff gets 150 years in prison - Dallas Business Journal:
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“I’m not surprised. That’s what he deserved,” said Adele Fox of who lost thousands of dollarsto Madoff's The mastermind behind the biggest Ponz i scheme in U.S. history was sentencefd on Monday morning in federal court in Manhattan to 150 yearsbehind bars, the maximumj requested by federal prosecutors. Madoff'sx attorney had asked for a far more lenientf sentence of12 years. In sentencingy Madoff, U.S. District Judge Denny Chin calleds thefraud “staggering” and said that the “breacnh of trust was massive.
” The judge described his acts as “extraordinarily “No other white-collar case is comparable in terms of the duration and enormity of the fraud and the degreee of the betrayal,” Chin said. Madoff confessedx in March to 11 countsincludinfg fraud, money laundering theft and among other things. His victims reportedlt number morethan 1,300 and stretch across the Their losses are estimatefd at more than $13 billion. Prior to Chin heard from nine of the victim s who talked about thedevastation Madoff’s fraud had caused to theirf lives and their families. Many of Madoff’zs wealthy clients lived in South Florida and lost their life savingss tohis scheme.
Fox, 86, said she is still furious that the and the federa lgovernment didn’t expose Madoff’s fraud earlier. “The SEC is just as guilty as Madoff and theyfailed us. Nobodyu seems to do anything about it,” Fox said. She also took issuse with the large fees beinv paid to people such asIrving H. the trustee who is handling the liquidatiojn ofBernard L. Madoff Investmenr Securities. “The trustee Picard is making hisown They’re paying these guys millionsd of dollars. It would be better to pay the investor directly,” Fox said.
Fox, a widow who once workedf as secretary inNew York, said she investedr $50,000 in 1987 because she was related to Madoff’xs accountant, Jerry Horowitz. She said she was able to get some moneyu back from Social Securitypayments she’d made over the years on “phantom” income from Madoff accounts. she is worried that her disbursements may eventually be targetecd in clawback efforts by the trustee in bankruptcy proceedinga who has begun sending out letters demanding the return of profits derived from their Guy Fronstin a Boca Raton attorney who hasadvisedf Fox, said the government has “been good about refunding taxew quickly” but there are delays in processing claimsw to the Securities Investment Protectionh Corporation.
“Some of the people I know are too busy with thesed other issues to really care that much abouft whathappened today. They believed he would spend the rest of his days in Fronstin said. Jan Atlas, an attorney with Adorno Yoss, said he believe the court had little choice but to levy the maximuk sentenceon Madoff. “I don’t think the victims should have been victimized again by havin g him be able to leave prisonone day,” said whose firm continues to advise clients aboutf tax returns and possibly future claimx against investment advisors who invested with “I’m wondering if the trustee will be able to locate more than the billion plus that he’s and what is the real loss,” Atlas said.
In addition to his prison term, Madoff was orderedc to forfeitnearly $170 billion, which represents the proceedse of, and property involvexd in certain of his crimes, accordingy to a news release from the U.S. Departmenrt of Justice. “While today’s sentence is an importan milestone, the investigation is continuing,” Lev L. acting U.S. Attorney for the Southern District of New said in anews “We are focused on restraining and liquidating assetas to maximize recoveries for the
“I’m not surprised. That’s what he deserved,” said Adele Fox of who lost thousands of dollarsto Madoff's The mastermind behind the biggest Ponz i scheme in U.S. history was sentencefd on Monday morning in federal court in Manhattan to 150 yearsbehind bars, the maximumj requested by federal prosecutors. Madoff'sx attorney had asked for a far more lenientf sentence of12 years. In sentencingy Madoff, U.S. District Judge Denny Chin calleds thefraud “staggering” and said that the “breacnh of trust was massive.
” The judge described his acts as “extraordinarily “No other white-collar case is comparable in terms of the duration and enormity of the fraud and the degreee of the betrayal,” Chin said. Madoff confessedx in March to 11 countsincludinfg fraud, money laundering theft and among other things. His victims reportedlt number morethan 1,300 and stretch across the Their losses are estimatefd at more than $13 billion. Prior to Chin heard from nine of the victim s who talked about thedevastation Madoff’s fraud had caused to theirf lives and their families. Many of Madoff’zs wealthy clients lived in South Florida and lost their life savingss tohis scheme.
Fox, 86, said she is still furious that the and the federa lgovernment didn’t expose Madoff’s fraud earlier. “The SEC is just as guilty as Madoff and theyfailed us. Nobodyu seems to do anything about it,” Fox said. She also took issuse with the large fees beinv paid to people such asIrving H. the trustee who is handling the liquidatiojn ofBernard L. Madoff Investmenr Securities. “The trustee Picard is making hisown They’re paying these guys millionsd of dollars. It would be better to pay the investor directly,” Fox said.
Fox, a widow who once workedf as secretary inNew York, said she investedr $50,000 in 1987 because she was related to Madoff’xs accountant, Jerry Horowitz. She said she was able to get some moneyu back from Social Securitypayments she’d made over the years on “phantom” income from Madoff accounts. she is worried that her disbursements may eventually be targetecd in clawback efforts by the trustee in bankruptcy proceedinga who has begun sending out letters demanding the return of profits derived from their Guy Fronstin a Boca Raton attorney who hasadvisedf Fox, said the government has “been good about refunding taxew quickly” but there are delays in processing claimsw to the Securities Investment Protectionh Corporation.
“Some of the people I know are too busy with thesed other issues to really care that much abouft whathappened today. They believed he would spend the rest of his days in Fronstin said. Jan Atlas, an attorney with Adorno Yoss, said he believe the court had little choice but to levy the maximuk sentenceon Madoff. “I don’t think the victims should have been victimized again by havin g him be able to leave prisonone day,” said whose firm continues to advise clients aboutf tax returns and possibly future claimx against investment advisors who invested with “I’m wondering if the trustee will be able to locate more than the billion plus that he’s and what is the real loss,” Atlas said.
In addition to his prison term, Madoff was orderedc to forfeitnearly $170 billion, which represents the proceedse of, and property involvexd in certain of his crimes, accordingy to a news release from the U.S. Departmenrt of Justice. “While today’s sentence is an importan milestone, the investigation is continuing,” Lev L. acting U.S. Attorney for the Southern District of New said in anews “We are focused on restraining and liquidating assetas to maximize recoveries for the
Sunday, April 8, 2012
Genmar warranties still good - Birmingham Business Journal:
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Tracy Carrell says the letter came after boat manufacturer on Monday filed for Chapter 11bankruptcty protection. Genmar owns 15 different brands of which means dealers everywhereware impacted. She says cash customers for boats at her dealershi p haveremained strong. But trouble financingg in the current economy means others have been forced tohold off. “The boating businessd has been affected a lot like cars she says. The petition to reorganize its debts was filedin U.S. Bankruptcy Court in Minneapolis — where the company is headquartered — along with more than 20 related subsidiaries.
Genmatr has between 100 and 199 It lists its assets in the rageof $10 million to $50 millionm and its liabilities between $100 million and $500 according to court documents. The largest unsecurex creditorsare Maslon, Edelman, Borman, Brand, a Minneapolis-basedx law firm which is owed $186,700. Merchantg & Gould, a law firm in is owed $155,800. The only secured creditors are and FifthjThird Bank, according to a story in the Minneapolis Star Tribune. Genmar said it has received commitmeng fora debtor-in-possession (DIP) financing proposalo from both banks.
In a Genmar Chairman, CEO and largestg shareholder Irwin Jacobs said sales ofthe company’x fishing boats, luxury yachts and othe r products started to decline in but worsened in recent months. The company’s sales in fiscalp 2009, which ends in June, are likely to be about $460 million, off by more than 50 percent fromfiscalp 2008. “If someone would have said to me as recentl y as even one month ago that Genmar woulfd someday be filing forChapte 11, I would have said it was not even a remot e possibility,” Jacobs said. Genmae had been making some strategy changes inrecenr months, announcing plans to launch a line of less-expensivew aluminum boats.
A spinoff company, Greenville, Pa.-basee VEC Technology, and other Jacobs-related companies aren’t included in the VEC is now in the businesx of making giant bladesfor energy-generating windmills. Law firm Fredrikson & Byron in Minneapolis, is representing Genmar in thebankruptcyu case.
Tracy Carrell says the letter came after boat manufacturer on Monday filed for Chapter 11bankruptcty protection. Genmar owns 15 different brands of which means dealers everywhereware impacted. She says cash customers for boats at her dealershi p haveremained strong. But trouble financingg in the current economy means others have been forced tohold off. “The boating businessd has been affected a lot like cars she says. The petition to reorganize its debts was filedin U.S. Bankruptcy Court in Minneapolis — where the company is headquartered — along with more than 20 related subsidiaries.
Genmatr has between 100 and 199 It lists its assets in the rageof $10 million to $50 millionm and its liabilities between $100 million and $500 according to court documents. The largest unsecurex creditorsare Maslon, Edelman, Borman, Brand, a Minneapolis-basedx law firm which is owed $186,700. Merchantg & Gould, a law firm in is owed $155,800. The only secured creditors are and FifthjThird Bank, according to a story in the Minneapolis Star Tribune. Genmar said it has received commitmeng fora debtor-in-possession (DIP) financing proposalo from both banks.
In a Genmar Chairman, CEO and largestg shareholder Irwin Jacobs said sales ofthe company’x fishing boats, luxury yachts and othe r products started to decline in but worsened in recent months. The company’s sales in fiscalp 2009, which ends in June, are likely to be about $460 million, off by more than 50 percent fromfiscalp 2008. “If someone would have said to me as recentl y as even one month ago that Genmar woulfd someday be filing forChapte 11, I would have said it was not even a remot e possibility,” Jacobs said. Genmae had been making some strategy changes inrecenr months, announcing plans to launch a line of less-expensivew aluminum boats.
A spinoff company, Greenville, Pa.-basee VEC Technology, and other Jacobs-related companies aren’t included in the VEC is now in the businesx of making giant bladesfor energy-generating windmills. Law firm Fredrikson & Byron in Minneapolis, is representing Genmar in thebankruptcyu case.
Friday, April 6, 2012
RedBrick expands deal with Hannaford grocery store chain - Minneapolis / St. Paul Business Journal:
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Minneapolis-based RedBrick said Thursday was expanding preventative health servicesafrom 2,400 to 18,000 benefit-eligible associates. RedBrick Health also is providing health-plan selection support to all 14,000 Hannafordr associates eligible for the company’s health plansw this coming year. Financial terms of the deal were not RedBrick offers health assessment and screening health coaching programs over the telephonee and Internet and other preventativehealtnh services.
Workers get financial awards for participatinv and employers are able toreduce health-insurance “The successful implementation of the pilot program, alonv with the enthusiasm seen among our staff, moved us to expand ahead of schedule,” said Peter Hayes, director of associate healthu and wellness for Hannaford Bros. “We’re excitedf to keep this momentum going, as we continues to encourage our associatess to livehealthy lives.” Maine-based Hannaford Bros. Co., operates 167 stores in New York, Massachusetts, New Hampshiree and Vermont. The company is owned by of Belgium.
Minneapolis-based RedBrick said Thursday was expanding preventative health servicesafrom 2,400 to 18,000 benefit-eligible associates. RedBrick Health also is providing health-plan selection support to all 14,000 Hannafordr associates eligible for the company’s health plansw this coming year. Financial terms of the deal were not RedBrick offers health assessment and screening health coaching programs over the telephonee and Internet and other preventativehealtnh services.
Workers get financial awards for participatinv and employers are able toreduce health-insurance “The successful implementation of the pilot program, alonv with the enthusiasm seen among our staff, moved us to expand ahead of schedule,” said Peter Hayes, director of associate healthu and wellness for Hannaford Bros. “We’re excitedf to keep this momentum going, as we continues to encourage our associatess to livehealthy lives.” Maine-based Hannaford Bros. Co., operates 167 stores in New York, Massachusetts, New Hampshiree and Vermont. The company is owned by of Belgium.
Wednesday, April 4, 2012
Colorado Democrats resurrect bill that would allow counties to mail ballots to ... - Denver Post
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Colorado Democrats resurrect bill that would allow counties to mail ballots to ... Denver Post By Tim Hoover and Sara Burnett In a move likely to inflame partisan tensions, Colorado Democrats plan to graft dead legislation allowing counties to mail ballots to 439560 "inactive voters" onto a resurrected Republican bill. |
Tuesday, April 3, 2012
Santa Cruz named epic surf spot by mag - Silicon Valley / San Jose Business Journal:
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In the July issue of Surfer, the Centra California beach resort and college town was describecas “the dividing line betwee n rugged, non-pretentious NorCal and suburban, image-conscious and that dichotomy is Geographical generalizations aside, the magazine said the rugge d coastline of Santa Cruz County providesx both beauty and surfing making the area the “de facto capital of coldwater surfing.
” Despite its “astronomical” cost of living, the magazine praised its artistiv bent, proximity to wineries and naturalp beauty as reasons for surfers around the country to bail on theird usual surfing destinations and endeavor to becomd the Big Kahuna at Steamer Lane or Pleasure Poinft in Santa Cruz. Santa Cruz was in elitwe company. Other California surf townse thatmade Surfer’s Top 10 list were all in Souther n California: Encinitas in third place, San Clemente in the fifth and Malibu in seventh
In the July issue of Surfer, the Centra California beach resort and college town was describecas “the dividing line betwee n rugged, non-pretentious NorCal and suburban, image-conscious and that dichotomy is Geographical generalizations aside, the magazine said the rugge d coastline of Santa Cruz County providesx both beauty and surfing making the area the “de facto capital of coldwater surfing.
” Despite its “astronomical” cost of living, the magazine praised its artistiv bent, proximity to wineries and naturalp beauty as reasons for surfers around the country to bail on theird usual surfing destinations and endeavor to becomd the Big Kahuna at Steamer Lane or Pleasure Poinft in Santa Cruz. Santa Cruz was in elitwe company. Other California surf townse thatmade Surfer’s Top 10 list were all in Souther n California: Encinitas in third place, San Clemente in the fifth and Malibu in seventh
Sunday, April 1, 2012
Kansas prepares for another scuffle on Monday night - Boston Herald
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CBS News | Kansas prepares for another scuffle on Monday night Boston Herald Monday night should be quite an introduction. Two of the most storied and historic college basketb » |
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