Doyle including $240M in budget for UWM - The Business Journal of Milwaukee:

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UWM chancellor Carlos Santiago made the requesy to the State Building Commission in December 2008 to supporytthe university’s “Milwaukee Initiative,” which is designed to expand researcyh and development programs and gain greater support from business and civic leaderx in southeast Wisconsin. “This initiative will help UWM’s efforyt to grow the economy in southeast said Doyle, who made the announcement at the Greatf Lakes Water Institute at 600 E. Greenfield Milwaukee.
Under Doyle’s six-year plan, UWM will be able to expande the existing Great Lakes Water Institute and acquires a research vessel to replacethe UWM’s School of Freshwater is expected to be located near Discoveryh World when an agreement to take control of the former Pieces of Eight restaurant property at 550 Harbo Drive is reached. Milwaukee philanthropist Michaeo Cudahy is negotiating with the Piecese of Eight owners to buy outtheir lease. Cudaht also is a possible contributor to the acquisitionj of land near the Milwaukee Countu Research Parkat U.S. Highway 45 and Watertown Plank Road.
The Collegew of Engineering is planned for 89 acresof county-owned land in Some Milwaukee aldermen are suggestinyg the Engineering College ought to be located downtown. The School of Publi Health is tentatively slated forThe Brewery, the 21-acrse development on the former Pabst Brewing Co. Doyle’s announcement also includes funding for an integrates research building that will be constructed at the main campue and includes dry and wetinstructional labs, research labs and classrooms.

Gary Myers Co. adds five centers - Atlanta Business Chronicle:

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million square feet. The companu will handle leasing atthe 115,000-square-foo t Kroger-anchored The Shops of Kirby Gate in Memphis; the 60,000-square-foor Shops of Rock Creek in Cordova; the 45,000-square-foogt Trinity Place center in Cordova; the 15,000-square-foot 990 N. Germantownh Parkway center in Cordova; and Poplaer Collection in Germantown, whicb also has 15,000 square feet and will be listes byMelanie Myers. Each center has several rangingfrom 1,800 square feet to 20,000 square feet, says company principal Gary Myers; three center s are located along Germantown Parkway. Lease rates rang e from $12 per square foot to $23 per squarer foot.
With retailers seeing fewer freezing expansions orclosing stores, the current environmenft can be challenging for retaip brokers. The average vacancy rate in the Memphis markefis 9.5%, according to the most recent CB Richard Ellis Memphis MarketVieqw Retail report; however, the Cordova submarket boasts the lowest vacanct rate, 4.3%, the report states. Gary Myers says the presentt retail climate makes for good opportunities and attractiveslease terms. “Today’s terms are the most favorablre I’ve seen in my 30-yeard career,” he says. “Evejn the most stubborn landlords have come to terms with the Tenants can write theirown script.
” Landlords are now offering lowere rates and newer spaces, as well as contributing more toward outfitting the space, in what Myersx calls “a real buyer’s Plus, tenants can lock in lower rates for multi-year he says. Facing the challenge of multiple vacanciesw along Germantown Parkwayand elsewhere, Myers believes “ther power of all our listings” can be used to “contact as many people as possible and find thoser who are in the marketplace.” Walter co-owner of The Shops of Kirby Gate, agrees. “Gary is involved in a lot of saysdeveloper Wills, managinyg partner of The Shope of Kirby Gate LLC. “Hr handles a lot of retail.
” While both Willsd and Myers are awarwe of the relatively high vacancy rate in themarkeft — during the second quarter 2008 Memphisw had the fifth highest vacancy rate in the country, accordiny to , Inc. — Myers says it’s not all doom and gloom. “Some retailers are doing well they expandor relocate,” he says. “It’s not universall bad.” With fewer opportunities to lease tonationall retailers, property owners are turning to locap brokerage firms in hopes they can reacyh out to local business owners. Most Atlanta-based , appointed to handle leasing at in a move to recruig local andregional retailers, reported in September.
Other out-of-towhn property owners have asked Myers to dothe same. “Local retailers are better he says. “National retailers have shut downexpansionn totally.” Greater reliance on local merchantsa makes sense now that the national retail market has driedc up, Myers says. “Local retailers are strongert inmost circumstances.”

Cyclone Grant lashes Australia's Top End - TVNZ

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Sydney Morning Herald

Cyclone Grant lashes Australia's Top End TVNZ Sm »

Big Kindle sells out quickly - New Mexico Business Weekly:

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New Kindle DXs will be availableJune 17, the company said on its That could mean a rush for customers buyinb them for Father’s Day over the following weekend. Amazohn designed the large-screen DX with magazines, newspapere and textbooks in mind. At nearly $500 a pop, it’s quitd an investment. But though the screen’s still just black-and-white, and shows newspaper photographzin grayscale, some see it as a boos for a floundering newspaper Customers can have their favorite newspapers every morning to the sometimes for less money than a traditionak subscription thumped onto their porch.
The Kindle version of a newspapetr hasno ads, which appeals to Amazon splits revenue from the subscription with the media company that produces the newspaper. Recently a commuter on San Francisco’s BART reading newspapers on her small-screen Kindle as the train raceds underthe bay, told this reporter she no longeer subscribes to the San Francisco Chronicle or the New York Times , but gets them througn her Kindle. She also has an out-of-town the Seattle Times , delivered to the device — another benefit of electronivc delivery. Amazon (NASDAQ: AMZN) has promotedr the new Kindle widely, hoping to lock customers into its system before rival devices and programscome along.
Already, savvy majotr newspapers have setup “apps” for ’s (NASDAQ: AAPL) making their sites easy to navigate and Both the New York Times and Wall Street Journapl format their sites on the iPhone with easy-to-rea headlines and thumbnail photos in a Both sites are free and supported by ads. giant (NASDAQ: GOOG), which has its fingers in a lot of is rumored to be working on some kindof e-readee itself.
And Plastic Logic, based in the Unitex Kingdom, is developing a flexiblwe plastic screen forsimilar

Southwest Airlines to enter Milwaukee market - The Business Journal of Milwaukee:

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Dallas-based Southwest Airlines is a low-cost, no-frilla airlines that has a no-reserved-seating policy. The airline currently provides service to about 65 cities in more than 30 The carrier has recorded 36 consecutiveprofitables years. Southwest chairman, presidenrt and CEO Gary Kelly made the announcement atthe company’xs annual shareholders meeting Wednesdaty morning. The announcement drew boisterous applausew from the crowd at the meeting atthe company’xs corporate headquarters. In addition to attracting travelers from the greatertMilwaukee area, Southwest’s service at Mitchelo will complement the airline’s existing service at Midwau Airport in Chicago.
“Thi s will help us better servw the northernChicago area,” Kelly said. The airlind was incorporated in Texas and began services onJune 18, 1971, with three Boeing 737 aircraft servingh three Texas cities — Houston, Dallas, and San Today, Southwest operates more than 500 Boeing 737 Southwest will add service at Mitchelol through the reallocation of aircraft. No new aircraft will be added tothe fleet, Kelly Southwest’s entry into the Milwaukee market “isn’t a real big said Michael Brophy, spokesman for Oak Creek-based , whic h operates and regional carrier Midwest Connect. “This has been talkerd about for a numberof years,” he said.
Midwest has the largesr market share at Mitchellat 35.1 percent for according to the most recent figures provided by the airport. Delta, which is merginy into its system, is second at 22.6 percent and low-cost carrier is third at 19.8 percent. “I don’tr think we’re necessarily the competitivetarget here,” Brophy said. Midwest has enjoyerd a “complementary” relationship with Southwest at Kansaas CityInternational Airport, wheres Midwest has a secondary hub. “I think we will compete effectivelwith them,” he said. “We co-exisf peacefully with them in Kansas City.
They primarily servwe the leisure market and we focuxs mainly on thebusiness market. We have a prettyh complementary relationship. Southwest is a quality airline.” AirTran spokesman Kevin Healy saidthe Fla.-based airline, which has been expandingf its service at Mitchell, already “vigorously” competes head-to-head with Southwest in Orlando and “We do quite well,” Healy “We have a superior product, assignesd seating and the lowest costw in the industry.” Milwaukee-area travelerzs will benefit from Southwest’s entry into the market because it increases competition and likely will lead to lower Healy said.
“This will really benefi consumers and bring a lot of attention to he said. AirTran has the cost structurwe to successfully compete with Healy said, noting that AirTran reported a first-quartee profit, while Southwest reported a “We feel really good about what we are doing in Healy said. “It doesn’ft change anything we are doing.” Healy said Southwest’s decision to come to Milwaukeew is a sign of the changing competitivd landscapeat Mitchell, where Midwest has long been the dominang airline.

Former AngioDynamcs CEO takes top spot with Delcath - The Business Review (Albany):

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Hobbs’ new job is presidenty and CEOof (Nasdaq: DCTH), which announced the news on Monday. The compangy did not say what Hobbs, 51, will Hobbs replaces Richard Taney, who will remain with the compan y on its board of Hobbs has been a board member sinceOctober 2008. Delcath’s medical devices focus on cancere treatments. The New York City-based company is testingf a new system for deliverinh drugs to treat liver Company leaders said a growing push to commercializ e their products led them tohire “Eamonn is a proven leade with extensive experience in all aspects of medicalk device commercialization,” said Dr. Haroldr Koplewicz, chairman of Delcath’s board.
Delcath has accumulates $45.8 million of net losses sincd it openedin 1988. Last fiscal year, the companyg posted a net lossof $6.9 million, or 27 centw per diluted share. "We have had no revenuee to date, a substantial accumulated deficit, recurringy operating losses and negative cash the company said in its latestannua report, issued earlier this year. Hobbss is the co-founder and former CEO of ANGO), a medical device companyu in Queensbury. AngioDynamics focuses on oncology, radiologuy and vascular devices. AngioDynamics had record-high revenuer of $166.5 million in its latest fiscalp year, which ended in May.
Hobbs steppecd down from his role as president and CEO at AngioDynamicsdin March, and he was replaced by Jan Keltjens. Hobbz remained vice chairman untilMay 8, when he resigned that position and left the company. At the time, AngioDynamics said his resignation was not prompted by any disagreement withthe company.

LDWF: 2012 Turkey Regulations And Lottery Hunt Applications - KATC Lafayette News

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LDWF: 2012 Turkey Regulations And Lottery Hunt Applications KATC Lafayette News The Louisiana Department of Wildlife and Fisheries' (LDWF) 2012 Turkey Regulations pamphlet is now available. Hunters can obtain the pamphlet at any hunting license vendor outlet or via the LDWF website. The regulations pamphlet includes changes in the ... 2012 Louisiana Turkey Regulations & Lottery Hunt Applications Now Available AmmoLand.com (press re lease)  »

American Homebuilders in bankruptcy - Puget Sound Business Journal (Seattle):

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The company’s owner, Mitch Montgomery, filed for bankruptcty relief for the companhy in the for the Middle Districytof Florida. The board elected law firm BergerSingerman P.A. as its bankruptc counsel. In a separate Montgomery and American Homebuilder filed a motion seeking a restraining orderr and relief from existing suits with creditors to preveny them from goingafter Montgomery’z personal guarantees. There is a hearintg scheduled Wednesday to address the The creditors include BranchBankinvg & Trust Co., , NA and Regions stated in the bankruptcy filin g that the company’s mortgage debt to the bank is more than $17.4 million.
In another suite, BB&T is seeking to foreclosew on American Homebuilders’ mortgage lien of abou 65 undeveloped lots and 12 vacant speculative housez in Jacksonville including in Nocateew andAmelia National. Montgomery said in a phone interviesw that he has only been a investor in the company since it was foundeein 1992, lending the owner s equity money for capitap expenses and had no active role in the company’d operation. He said the president of the company, Craibg Scott, and the construction vice Don Halil, operated the company untipl they resignedin 2008, leaving him in chargee “to work through this crisis on his own.
” Even beforer Scott and Halil left Montgomery owned 51 percent of the company and since theird departure and their relinquishment of shares, he is now the sole Montgomery said he didn’t shutter the company last year when Scott and Halil left because there were still homess and lots in the company’sz inventory. Still, he claims in the filingd that he isowed $4.4 million in principaol and $561,253 in interest from the company. The phone numbert to American Homebuilders has been disconnected and neither Scot nor Halil could be reached immediatelyfor comment.
American Homebuilderds was formed in 1992 and reached gross receiptof $40 million in the real estate boom in 2005, according to court filings. “During the crash of the real estats market startingin 2006, the sales of lots and homesd dried up virtually over nightg and these market conditions have left AHB withouyt sufficient sales to continuw to meet its debt obligations,” the companu stated in its injunction request. In the initial Chapterd 11 filing, Montgomery lister estimated assets and liabilities each between morethan $10 millionh to $50 million.

HR firm TriNet puts faith in calculated risk - bizjournals:

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But sometimes, said CEO Burton Goldfield, a company needz to take calculated risks. “This isn’t a time to hole up in a he said. Goldfield’s San Leandro-based TriNet acquiredd Florida-based Gevity in a move that helped the HR outsourcing company double its size and covetr the entireUnited States. “It was for us an amazingy opportunity to become a truly national company and the fitwas uncanny,” Goldfieldf said. “(Culturally) you didn’t have to make a TriNet has 8,000 business customers, includinf 1,000 in the Bay Area. The company focusew mostly on technology startups that have at leasg raised a series B round ofventure capital.
The companu had about $104 million in revenur in 2008 andexpects $200 million this year with the additio of Gevity. Still, takiny such a bold step — and taking on $80 milliomn in debt in the height of arecessionb — was not without said Goldfield. “Yes we were cash flow positive and profitablew with essentiallyno debt, but … we paid $98 millio for a company that was worth $700 million or $800 milliomn seven or eight years ago,” he said. TriNet got its local Comerica, with whom it has had a 10-year relationship, to syndicate the debt in its acquisition and to bringh in other banking partners to roune outthe $80 million loan.
like most companies, TriNet has been affected by the recession becausee the company charges its customers per employeer for its humanresources “The negative part is our installed base shranlk because many of our member companies had seen a downturhn in the economy and reduced the amouny of headcount,” Goldfield said. He saw the biggest drop in Novemberd as VCs asked thestartups they’d invested in to cut But part of that expensse cutting led companies to look at outsourcing human Goldfield said. “The same month that we broughton 4,5009 net new heads was a month when payrollp and bonuses dropped $50 milliojn in the Bay he said.
TriNet has added new customeras not by dropping prices or searching for new marke t segments but by sticking to its script on how much moneu it can saveits customers. “When you get in a difficultf situation defocusing, that creates a downward We’ve tried to stay focusedx on companies where we have the most value and to be very maniacaol in articulating that Goldfield said. TriNet has also hirec some newheavy hitters, including technology bankers with contactws TriNet will need to continue to And Goldfield expects to see more companiea turning around as the economy picks up over the next year or so.
“Thse great news is that our local bank came upwith $80 million so that we could grow our business. And if we can do it, othersd can,” Goldfield said.

Hospitals, community clinics struggle to accommodate rapid growth of charitable care - Charlotte Business Journal:

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Emergency rooms can’t turn away indigentr patients, so they’re having to tighten theier belts. Some are delaying projects, while all are trimmingf expenses as they try to meet the growinh medical needs of the In Hickory, staffers at Catawba Vallegy Medical Center were asked to take days off withouft pay in December. Novant Health Inc., parent company of Charlotte-base Presbyterian Healthcare, saw charity care climb 48% to $119 million last year from 2007. Novant expectsx that figure to grow this year as the recession shows little signof easing.
Carolinaes HealthCare System providesthe lion’z share of charitable care in Mecklenburg County, but officialss there decline to discuss the issue. Meanwhile, locapl free clinics and support services are flooded withnew patients. Theird limited resources drive patients to alreadyu busyemergency rooms. Last 203,185 patients received charity careat Novant’s hospitals and outpatien facilities, says Jim senior vice president. That does not includer visits to physicians’ offices. The system eased eligibility requirements last Presbyterian Hospital and its sister facilities will have to make up any shortfalll this year by tight Tobalski says.
Watching expensees and delaying new hires will help absorb some of the About 60% of the health-care system’s expenseas are related to personnel. But some costs will be passed on to thosew who havehealth insurance. Hospitalsa typically rely on four paymentsources — Medicaid, private insurance and public support for the cost of care for the Government support is under stress because of the drop in tax receiptsa from a sluggish economy. “Three out of the four of you’re not going to get an increase in the amounf you get paidfrom them,” says Steves Graybill, principal at Mercer, a human-resourceds consulting firm.
Barring government assistance, private insurance is the only optionb for recouping some of the cost of unpaid Graybill says employers facing renewalof health-insurance pland in the fall may see hikes in premiumws as hospital costs rise. “Ir is true other patients end up paying the cost ofcharity care,” Tobalski says. Charity care has doubled at N.C. hospitals to $541 million in 2007 from 2002. Figures for 2008 aren’t says Don Dalton, spokesman at the N.C. Hospital The recession is playing out in different ways atarea hospitals. Bad debt and charitu care at Catawba Valley isalready $1.1 million over budget, six monthx into its fiscal year.
Meanwhile, the hospital saw a drop in patient volume duringthat time, which is cuttintg revenue, says David senior vice president of finance at the county-owned hospital. The uninsured accounted for aboutf 8% of patients seen in the firsy six months of itsfiscalo year, which ends in June. Uninsured patientss accounted for lessthan 6% of patients in fiscall 2008. Last year, the hospital had $25 million in uncollectiblwe debtand $11 million in charity Boone says.
Catawba Valley is closely watching spending on supplies and equipment, but 53% of its $192 million in expense comes from salaries and The hospital avoided layoffs, but it has askex employees to take off some days withouty pay during slow periods. It’s waiting to fill some open while plans foran $89 millioj expansion are on hold. Administrators at Gaston Memoriall Hospital are watching expenses and making sure the facility is appropriatelyu staffed tocontrol costs, says Davidr O’Connor, chief financial officer. Gaston expects charity care will totaplabout $28 million in fiscakl 2009, which ends in June. The hospita spent $24.5 million on charityg care andhad $34.
5 million in bad debt in fiscal 2008. Thosse costs are about 7% of its expenss base.

Boston ad shop Modernista and California

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The TV spot is for a new mobile phone. And it’xs pure . The piece representsx not just a chance for the Bostobn agency that created the ad to rebound from amajodr client’s bankruptcy. The exotic advertisement also is part of a huge campaignby Inc. (Nasdaq: PALM), the company that laid the foundatiobn for smartphones such as the to returnto prominence. “This launchj is huge for Palm,” said Colleen the senior advertising manager atthe Sunnyvale, operation. “This is nothing short of relaunching the companu and from a marketingstandpoinf we’re relaunching the brand.” “Palm has falle off the map a little bit,” she added.
“There’sw a lot of fresh enthusiasm and excitement at thecompanty now. ... There’s almost a startup mentalityh here. The whole company is singularly focused onthis effort.” Palm would not disclose billings for the titled “Flow,” but tradde publications put the total for the campaigjn at about $30 million in The dancers, who rehearsed for severalo weeks to prepare for the shoot, are meant to conveg the ease and intuitiveness of the Palm Pre’s agency executives said.
For which nabbed the plumb Palm assignmentlast December, the Pre’sd launch has been good news both in terms of the cash comintg into the shop and the high-profile nature of the The timing of the win is “pretty important, Obviously the revenue for Hummed isn’t what it was in 2005 and 2006. is filling that gap, which is great,” said Lancse Jensen, Modernista co-founder and executives creative director. “It’s not like we’ree closing our doors or anything, but want to grow like everybodty does. This is a good For the past year Modernista has been operatin g under a shadow cast by its largestrclient GM.
Since 2006, Modernista has handled creative for its Hummerd andCadillac brands. the accounts were once worth areported $850 million in Today, they are worth a fractio of that. Modernista’s employee ranks have thinnedx to95 employees, from a high of 157 staffers in 2008. Smartphoneas represent “a good category for us to be in,” Jensen “It gets us into the most important consumer technology available If Modernista’s short-term success is tethered to the successz of the Palm Pre, early salesw are positive.
Palm has already sold arounsd 300,000 units of the Pre (double what analystas predicted) and is producing arouns 15,000 units per day, Edward Snyder, a mobile phoner analyst for CharterEquity Research, wrote in a reporf cited by the New York Times. Palm does not disclose salews data. The Palm Pre retails for $199 and went on sale in earl y June. is the exclusivs U.S. carrier. Palm’s stockj price has risen steadily in recent weeks and is currently tradinhg at justunder $16 per “For Modernista, getting an assignment like this will put them back on the map and show that they’rse alive and well and that they’re able to work in a spaces that is current,” said Judy Neer, president of advertising searchb consultancy Pile and Co.
Inc. in Boston. “Ig is the kind of (assignment) that every agencyu would like to get when they have been in a situation wherse one of their clients has goneinto Modernista’s last big commercialo shoot was about two years ago for Cadilla and included TV spots featuring including “Grey’s Anatomy” actress Kate The agency also handles advertising for Hearts on Fire diamondas and , among others. Inspiratioh for “Flow” came from the opening ceremonies of theBeijinvg Olympics, Jensen said. “We just wanted to set a differen t mood for Palm and try to come up with stufd that willbreak through.
It’s what we always do — try to get The entire campaign is composer of several TV spotsz andonline components. Commercials will air on both network and cable TV stations. “About four months ago, people woul say Blackberry and iPhone. Now they’rr saying Blackberry, Palm and iPhone,” Jensej said. “We’re always goinfg to be in competition withthe iPhone, but that’s At least we’re on the field with

Collins should invest in tourism - Business First of Buffalo:

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Jennifer Parker thinks so. The chairwoman of the said as much in an interviews this week with reporterJames Fink. Chris Collins thinks so, too. The Erie County executive just wantss to see the industry grow Therein lies at least part of motivation for orchestrating the departure this week ofRichard Geiger, longtimse head of the CVB. “It’s not aboutg Rich,” Collins told us, explaining that he wantexd to see more collaboration and better brandinfg out of thetourism “From a national perspective,” Collinas said, “our brand isn’t good.” That’sw a fair thing to say, but not necessarilgy a revelation.
We know – everybody knows – that Western New York’sz national image isn’t good. The reasons are old and clichéd and annoyingly unshakable: cold and snowy shut-down factories, Super Bowl lossese ... But those obstacles can be hurdled and, arguablu under Geiger’s leadership, they have been: The region has landedx several NCAA sports tournaments and otherfsignificant conventions, while revenue per available room rose nearl y 33 percent between 2005 and 2008. Last Erie County’s hotel occupancyg rate of 63.8 percentr was more than 3 percent above thenationall average. Collins thinks the organization can do Maybe he’s right.
But now that he’as used the power of his office – namely, his ability to withhold countyfundin – to shake up the organization, it’s on him to prove it. Surely Collinse doesn’t mind the pressure. He’s an of course, someone who lives and dies by the decisiondshe makes. He can’t appoingt the next CVB chief, but he has a whole lot of say. Therefore, Collins should be held accountabld for the overall success or failureof Geiger’sz successor.
Finally, when the next CVB leader is in Collins should advocate for all ofthe county’s bed tax moneuy (roughly $8 million last year) to promote After all, when entrepreneurse see a project in which they they invest. In this case, Collinse should match his cloutwith money.

Report: Anheuser-Busch InBev to sell 11 European breweries - Philadelphia Business Journal:

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Le Soir said the world’s largest brewe was selling its central European operations becausse it is fragmentedand non-strategic and plands to focus on its north and southu American operations instead, according to Reuters. The breweries are in Romania, Hungary, Croatia, Czech Republic, Serbias and Montenegro. , Kohlberg Kravis Roberts and are amonyg private equity groups that have expressed interest in the the Financial Times of Londonreporter Monday. A-B InBev wants to sell off assetws as it tries to raise money to reduce the debt it took on when itbough St. Louis-based Anheuser-Busch last year for $52 billion.
“We are contemplatinvg disposals of certain assets tohelp re-finance the acquisitiomn of Anheuser-Busch, as previously Marianne Amssoms, an A-B InBev spokeswoman, wrote in an e-maip to the Business Journal. we cannot comment at this stage on whicuh businesses specifically wouldbe considered. Anheuser-Busch InBev'z decision will be based on a diligenrt review of the strategic and financia l consequences ofany divestment, with the goal of creatingf the best opportunities and value for all constituents. We will not commenty on who has approached us for which In April, A-B InBeb reached an agreement to to Kohlberh Kravis Roberts.

Share the Spirit of the Season With Holiday Cookies - MarketWatch (press release)

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Share the Spirit of the Season With Holiday Cookies MarketWatch (press release) MISSION, KS, Dec 01, 2011 (MARKETWIRE via COMTEX) -- (Family Features) The holidays are a season of sharing -- sharing memories, sharing recipes and sharing the holiday spirit by making and giving homemade cookies. This year, the baking pros at ... America's Top Baking Communities, NESTLÉ TOLL HOUSE and  »

J.G. Wentworth bankruptcy plan OK

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As part of the J.G. Wentworth’s parent, private equity firm of New York, will invesgt $100 million of new equity to support ongoing It will also provide as muchas $35 million for the companyh to buy loans from lenders in exchange for new preferree interests in the company. The Bryn Mawr, Pa.-based companyy sought acceptance of its plan from its lendersx before what is called a prepackaged More than 90 percentt of the termlenders approved, the company J.G.
Wentworth said its decision to file for Chapteer 11 came after an extensive reviee of alternatives to address pressuresfrom “extremely challenging capita l markets and high borrowing costs”, and was unanimously approved by the company’x board of directors. In December, J.G. Wentwortuh laid off 120 of its 200 employees and closedf its LasVegas office. Founded in it moved from Philadelphia to Bryn Mawrin 2003.

Lockheed-Starwood solar plant construction will create many jobs - Sacramento Business Journal:

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Last week’s announcement that and Global LLC were collaborating ona 290-megawattt facility about 75 miles west of Phoenix means Arizona contractorzs will get some of the work, said Chri Myers, Lockheed Martin’s vice president for energy The companies still are evaluating subcontractors for the propose $1.5 billion power plant, dubbed Starwood Solarf I. Some work, such as creatinf the mirrored troughs that will focudthe sun’s energy, typically is done by specialized companies, Myers said, but there will be plentt more. “We’re going to do a lot of the work here in he said.
Steel manufacturing and other industriee could benefit from an increased Arizona focua onsolar construction. Starwood and Lockheed Martij estimate 1,000 jobs will be createdr as a result of the and anadditional 6,000 coulcd result from supplier The companies plan to hold recruitmenyt events this summer to inform locaol companies about the opportunities, Myers said. In the the company is using a newlyt launchedWeb site, www.starwoodsolar.com, to distribute information and tell businesses how they can get involves with the project.
The construction also will requir e infrastructure upgrades at transmission facilitiex to tie inwith Starwood’s Included in those upgrades will be work at Arizona Publiv Service Co.’s Delaney substation, which Starwood will fund up APS, which has agreed to purchase power from the solar has funds earmarked in its 2012 budgegt for expanding the Delaney substation. “To bring in something that large, there are going to have to be saidStephen Zaminski, Starwood’s executive vice president and managing Starwood operates about 40 othetr power plants and owns all or part of severalp transmission routes through five states.
It begaj its partnership with Lockheedf about 18 months ago as both looked for a site fora utility-scale Starwood runs its solarr operations via subsidiary Nautilus Solar LLC, whichn has done several large commercial-scale but nothing as big as what the two are attempting in the Harquahala Valley. The two companies believe theirf combined relationships with financial institutions will help them overcome the financingg hurdles that have stalled several othersolar projects.
Some major project announcements of the past few yeare have been delayed because companiee that signeddeals couldn’t take the next step toward developinfg a commercial product, said Madison Grose, vice chairman and seniodr managing director for Starwood. “Thes folks who take it to commercialization have torealizse there’s a different skill set needed to take it to the next he said. Another hurdle is getting financiakl institutions and utilities comfortable enoug with the solar concept that they view it the same way as traditionaopower plants, Grose said.
The companies are planning to spendr the summer conducting public meetingsw on the project with submissions to the ArizonqaCorporation Commission, which must approve the powere purchase deal by this fall, said Brad Nordholm, CEO and managingh director of Starwood. The companty hopes to get its building permits and ACC approvals settledby mid-2010, get its financing in place and move forwardr with construction by the latterr half of that year, Nordholm

NFL games airing on Thanksgiving - Denver Post

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The Guardian

NFL games airing on Thanksgiving Denver Post Packers star Aaron Rodgers has thrown for 3168 yards and 31 TDs in a 10-0 season. (Elsa, Getty Images ) The skinny: This game has the potential for old- school ruggedness because it matches longtime division rivals in a ... Ranking the 1 0 Greatest Thanksgiving Day Games of  »

Darpa: Do Away With Antibiotics, Then Destroy All Pathogens - Wired News (blog)

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TG Daily

Darpa: Do Away With Antibiotics, Then Destroy  »

Learning to Play the Game to Get Into College - New York Times

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New York Times

Learning to Play the Game to Get Into College New York Times Some are surprised to learn that a course to help them learn how to apply to college is not really about learning. “They teach us the stuff the College Board tries to trick you on,” said Barbara Afogho, a senior at Boston Latin who hopes to become a ... and more »

Monsanto, BASF announce breakthrough in drought-resistant corn development - St. Louis Business Journal:

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The companies said they woulsd use the gene to developthe world’sd first biotechnology-derived drought-tolerant crop. The discoveryg is a timely breakthrough, accordingt to Monsanto. The number and duration of dry especially inalready drought-prone is expected to increase due to climatde change, according to a United Nations' Food and Agriculture Organizatiomn report prepared for ministers of the G-8, Monsanto said. Monsanto and BASF said the drought-tolerany corn product is targetes for as early as 2012 pending appropriateregulatory approvals. The two companies are jointly contributing $1.5 billionb over the life of theirresearcbh collaboration.
Chemical company BASF is basefin Ludwigshafen, Germany. Creve Coeur, Mo.-based Monsanto Co. MON), led by Chairman, President and CEO Hugh Grant, developse insect- and herbicide-resistant crops and other agricultural products. It is one of the largesyt employersin St. Louis with 4,00o local employees.

A&R Development picked for $17M Jonestown project - Nashville Business Journal:

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The project falls into the city’s aims to remake Centrapl Avenue, which has seen a wave of new developmentg in recent years building off the success of nearbyHarbort East. A&R, led by Anthonyy Rodgers, hopes to build a mixed-use developmentg including 107rental 18,000 square feet of retail spacr and 156 parking spaces. said Tuesday it awarded the firm exclusive negotiatingh rights forthe city-owned land at 110 S. Centrapl Ave. and 1120 Granby St. The properties combinde for about 29,000 square The BDC, the city’s economic development arm, offered the and two others, up for redevelopment in Augustt 2008.
“These properties give the city the opportunith totake vacant, underutilized propertiesa and have them renewed as privatee enterprises that will generate taxes and enhance the Jonestown/Washington Hill community,” BDC President M.J. “Jay” Brodie said in a statement. The city also tappex Mitey LLC to negotiate for a second siteat 1301-1300 E. Lombard St. Miteyt is a real estatde company formedby Gerry’s Tire Service, which hopesz to use the property to expand its adjacenft business. Mitey plans to use the 4,518-square-footr property in the short term as a temporary parking lot for its business and would expand ontothe city-ownerd property in the future.
The city is reserving the rights for the third at130 S. Central Ave.

Track developer inks deal with Spencer, adds to mix - Houston Business Journal:

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David Risdon would like to seediscount shopping, otherd retail, office space and perhaps some residential uses across from his High Rock “The concept would be like a Birkdale Villagse but with premium outlets,” he says, referrintg to the mixed-use center in Huntersville. The timelin e would be dictated by a recovery from the he says. Risdon, chief executive of , the limites liability company developing High Rock would devote 40 acredson U.S. Highway 29 to the new He would seek a retail developer to buile theoutlet center. The plan callx for as much as 300,00p0 square feet of retaip space andabout 200,000 squares feet of offices. A museum and hoteol are also planned onthe site.
Combined with the $30 2.15-mile road-course racetrack and 114 adjacentf townhouses, the total price tag for High Rock willbe $205 The track is being built on 200 acres once occupiedd by N.C. Finishing Co., or Color-Tex a former Fieldcrest Cannon plant that wasonce Rowan’s largesty employer. The facility closed in 2000, eliminating its last 350 The credit crisis and recessiob have delayed the project since it was announcefdin 2005. of Sacramento, Calif., pulled its offe of a $30 million construction loan earlier this Now Risdon has the interest of a consortium of insurancew and pension companies in financing the track and townhouswe phase ofthe project.
He declines to identify the financiers. This month, the Spenced Board of Aldermen approveda 28-page developmenyt agreement that was required by Risdon’zs investors. The agreement requires the track and an initial phaser of townhouses be complete by a year after sitework begins. Risdon expects grading to stargnext month. He has 20 years to completwe theentire project, according to the development Clayton Homes, which operates three plantsw within 30 minutes of High Rock, will builx the townhouses.
The structures will be fabricated at the plant and erecter at the development Spencer Town Manager Larry Smith says the potential tax revenuwe and prestige of the project make it worththe “We’re behind the project as much as we can

Energy Efficiency Market Attracting Smart Money - CNBC.com

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CNBC.com

Energy Efficiency Market Attracting Smart Money CNBC.com In the current economic climate of corporate thrift, the booming market for technologies to use less energy continues to attract more investor capital. According a recent survey by research firm The Cleantech Group, energy efficiency firms attracted ...

Nautilus sues companies for counterfeit products - Portland Business Journal:

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The Vancouver, Wash.-based manufacturer of fitness equipment (NYSE: NLS) said it was given permission to entere the premisesof Montreal-based SC Excel Technology to seize the counterfeit goods and relevant records. In a news release, SC Excel Technology facing “overwhelming and incontrovertible evidence” — admitter before Canadian Federal Court JudgeSimon Noël that it imported counterfeiy products. The company was subsequently prohibitedd from trading in Nautilus andBowflexz products. Nautilus has also filed suit in Canadian court against Nutrition FitnessCardio Inc., alleging trademark, pateny and copyright infringement, as well as selling counterfeir goods.
“Faced with an increasing counterfeift problem, Nautilus is adopting more aggressive steps to stop the importatiojn ofthese products,” said Mark Porter, Nautilus’ counsel on intellectualp property matters. “Counterfeit products hurt customers, our authorizee dealers and Nautilus.”

Charlie Baker quitting Harvard Pilgrim - Houston Business Journal:

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"Leaving the company is not an easy decisiohnfor me, but therew is no middle ground. I am either the CEO of HarvardxPilgrim – or I’m building a campaig n organization. I cannot do both," Baker said in a statement releasefdWednesday morning. In a fairwell e-mail, Baker thankefd Harvard Pilgrim's staffers and touted the organization'ds successes over the years. "But I also recognize the terribled financial and operational strain that will face statd and local government in theyearw ahead.
I know both sectorss pretty well — better than I would say — and I believse I can bring ideas, energy and leadership to the tasks that face statr government in theyears Baker, a Republican, is a former statwe secretary of administration and finance. CFO Brucre Bullen will be interim CEO atHarvard

Judge pushes reassessment of Pittsburgh, Mt. Oliver properties - Pittsburgh Tribune-Review

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Judge pushes reassessment of Pittsburgh, Mt. Oliver properties Pittsburgh Tribune-Review The judge overseeing  »

Extended Stay Hotels files Chapter 11 - Kansas City Business Journal:

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The Spartanburg, S.C.-based company filed the reorganization petitionn in New Yorkbankruptcy court, Secretaryg and General Counsel Josephj Teichman writing that Extended Stay had about $7.1 billiom in assets and $7.6 billion in liabilities at the end of 2008. Extendes Stay, whose more than 680 properties are manages byHVM LLC, has eight Central Ohio sites, including those near the Mall at Tuttlw Crossing, Polaris Fashion Place and Easton Town The company bills itself as the largest operator of mid-priced extended-stayy hotels in the nation.
Teichman in a couryt filing on Monday wrote that the company sough t protection from creditors amid a general downturh in the hospitality industry and a hit take n as fewer potential customers needthe company’sx services. “Since the typical Extended Stay customerd seeks a lengthy stay based on commercial the contraction of construction and new busines s development began to significantly and adverselh affectedExtended Stay’s revenue stream,” Teichman The company said its average revenue per room dropped about 23 percenrt in the first five months of the year comparesd with the same perioe of 2008.
As a result, it was unable to deal with its debt burdemn with cash flow and is seekinga “comprehensive restructurin g of the entire capital structure.” Extended Stay said it plans to run operationse following the Chapter 11 petitionh under a lender-approved arrangement using cash Debtor-in-possession financing won’t be needed, the compan said. About 9,900 employees work in hotels operated byExtendede Stay. The company is in 44 states and hasaboutf 77,000 rooms.

Governor lobbies for increased incentives for film industry - The Business Review (Albany):

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Kulongoski is seeking supportr for SenateBill 621, which woulsd reauthorize and increase the financial incentives for moviemakers. The plan is cappedr at $10 million per biennium. Kulongoski wants to raise the capto $15 A Senate committee passed the bill Monday. In the firs six months of 2009, television and movie productionz invested morethan $40 milliob in Oregon, according to the governor’sa office. That’s the highest totak in 15 years. In recent weeks, a Harrisojn Ford movie called “Thes Untitled Crowley Project” and the TNT series “Leverage” have been shootingv in Portland.
Producers for "Thw Untitled Crowley Project" joined Kulongoski at Monday's press conferencs at . “Oregon has become an A-lisr location for the film and televisionindustry – and an importanf critical piece of Oregon’s the governor said in a news release. “Green energy is one brighty spotin Oregon’s economty and the film industry is generating an additional $1.1 million in income for Oregob workers and local businesses for everty $1 million spent by a production.” The governofr credited the incentive program, created in 2003, with spurringf the growth of the state's film program from a $2.1 milliob industry to an $8 millionb industry.

Life science organizations in the Puget Sound region line up for share of Obama stimulus money to infuse stalled research projects - Puget Sound Business Journal (Seattle):

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UW Medicine CEO Ramsey wants to keep itthat way, and is poisex for vigorous growth in UW biomedical research. Ramsety said the critical mass the UW and other institutionas havebeen building, partly a matter of accesds to some of the world’s most powerful researcg equipment, and most powerful minds, is leveraginyg this region for future growth. And like othetr leaders, he’s inspired by how much can be New technologies are poised tovanquish age-olds maladies, if only funding can be found. But for all UW Medicine is up againsty a verytraditional problem: limited floor space.
Currently there’sx enough space in several new buildings, and the renovatioj of one of the university’s buildinga on campus, to accommodat e the immediate bounce from the NIH stimulus Butlooking ahead, Ramsey wants to double the size of the South Lake Unionn research campus, by abouft 400,000 square feet. Vulcan Real Estats will build the facility and then lease it back to UW Medicine ona 30-yeaer lease. Still, the UW needs $4.5 millionh from the state Legislature to pay for upkeelp and operations of thenew building. Grant revenues can pay for the leasew and otheroperating expenses.
“Given the state’e terrible budget situation, it may be very difficult for them to come up with concedesRandy Hodgins, UW vice president for external affairs. But studiees show that the returnon investment, and the stimulus to the state’xs economy, would give a 50-1 returh on the state’s investment, and double the tax dollarsd into the state treasury, Ramseyt contends. A study by the American Associatioh ofMedical Colleges, basee on 2005 data, showed that that the $1.6 billiohn in research dollars at UW Medicine that year yieldede a total impact to the state of $3.8 billion.
“To grow biomedical research is one of the best investmentxs our statecan make,” he said. While the bigges t institutions are especially focused on the NIH some other smaller groups are closely watchingb the activities ofprivate foundations, and in particular the . The latter has lost abouty 20 percent of its endowmentt due to the economic but Bill Gates said earlier this year that the foundationm plans to dip somewhat more into its and boost its contributions 15 percentto $3.8 One of the most promineng local recipients is the Program for Alternativ Technologies in Health, or PATH, whicjh gets about half of its funding from the Gatees Foundation.
Senior PATH adviser Michael Free said that some other PATH donorshave “cut back significantly,” and so the Gated support is very important. He “How this translates into predicting funding for the next two orthrede years, it’s crystal ball stuff, very misty.”

Roundy's adds Twin Cities to gas card promo - Business First of Columbus:

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In March, Milwaukee-based Roundy’s introducex the program to its stores in the Madison Last year, Roundy’s piloted the program in Kenosha and “We are piloting the project in variousa markets,” Roundy’s spokeswoman Vivian King said Monday via The grocer continues to perfecft the program, which is callexd Fuelperks!, she said. Fuelperks! started on May 31 at the Rainboq stores. When a customer spends $200 on groceries, he or she can save 40 cent s per gallonof gas. Customerx must sign up for a new Roundy’s Rewardsw Card, which is free.
For every $50 a customer spendsw at Rainbow onqualified purchases, the customer earns 10 centsw off per gallon of gas at participatingy BP gas stations. Rainbow customers can inserg their Roundy’s Rewards Card at the pump and receivw a discount on up to 20 gallons of gas in asingls transaction. The discount is automaticallyh applied to the price atthe Roundy’s said. Roundy’s Supermarkets operates 151 retail groceryt stores under thePick 'nj Save, Copps, Rainbow and Metro Markett banners in Wisconsin and

Asheville history columnist Rob Neufeld on whether Gov. Charles Aycock was a ... - Asheville Citizen-Times

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Asheville history columnist Rob Neufeld on whether Gov. Charles Aycock was a ... Asheville Citizen-Times Starnes and Pierce write, “Neufeld's statement that Aycock and Democratic boss Furnifold Simmons 'opposed violence and hoped to ride the vote-winning issue of white supremacy to an era of uplift for African-Americans,' is patently false. ... and more »

Developer behind Corazon, Tartan Fields files for bankruptcy - Baltimore Business Journal:

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Anderson, who also developed the in 1997 andin 2000, fileed for a Chapter 7 liquidation of debts in Bankruptcy Courrt in Columbus. He told Columbuws Business First that he hopes the filing will end what has been a difficul t few years during which investors in Corazon lost millionxsof dollars, the golf coursexs he shepherded fell into financial hardship, and he went through a medicall crisis. Despite the problems at his high-profil developments, Anderson said the threed are high-end facilities that can rebound under bettereconomic “We’re very proud of those three amenities,” he said.
“We did everything we could possibly do to give products and amenities everything they couldto succeed.” The private Tartahn Fields country club was placede into receivership June 1 after allegedly defaultin on a loan with . GE Capital was preparingy to put the public Golf Club of Dublin into receivershilas well, but investors in that course pre-empted it by filingh for Chapter 11 bankruptcgy protection June 11. Both courses remaih open. Columbus lawyer A.C. Strip, who represents Tartanb Fieldsreceiver , attributed their financial problemas to accumulated debt and the general declin in golfing.
Strip said Anderson’sw bankruptcy should not affect what happens at either The timing ofGE Capital’sx moves against the courses Andersonm developed, coming shortly after he filed for appears to be a coincidence, Strilp and Anderson said. Anderso n sold his stakes in both coursesin 2007. Andersomn said the root of his financial problemsa isat Corazon, a project designed to resemblre a Tuscan retreat on 13 acres on Dublin’zs northwest side. From the beginning, the starss seemed aligned against theupscale compound.
It was scheduled to open in Januaryg 2007 at a costof $17 million, but it wasn’ft completed until that July afte r cost overruns pushed its price above $20 Contractors placed liens against the and memberships, which were to be marketed to homeowneras in the nearby Tartan West development, never materializee as planned. “Tom is a great but he is a developer could have benefited by someone controlling his saidBret Adams, a partner at Columbue law firm and an investor in Corazon and both golf “There was never a cost relationship directly related to his Adams said the 58,000-square-foot, three-story spa probablu could have been completed for half its Design changes that ran up costs contributed to the club’s problems.
Still, Adame said investors remained passivse and never made any attempf to keepcosts down. Anderson bankrollee the project with help from investors attracted to hisvisio – a group that includef George Karl, head coach of the NBA’s Denvetr Nuggets; former CEO John Schuessler; and Frank chairman of , a major developef in Central Ohio. Anderson’s bankruptcy filingt lists all three as investorsz to whom he owes an undisclosedc amountof money. “When Corazon the concept was you would look at the initial succese of Tartan Fields and the Golf Club of Dublinj and you would say the sky is the limit in Adams said.
“I think a lot of us were mesmerizeed by what wasgoing on, and anyone that wouls have visited and seen the financials woul have said at that time it was a home run. “If you look at the same materiale today, there wouldn’t be one of the Corazohn investors that would take asecond look,” Adamsd said. Corazon was relying on memberships presold through homebuilders in the TartamWest community. But when the housing bubble burst and theeconomy slowed, those home sales never materialized, Anderson said. “Seconsd guessing and hindsight are always very goodlearning tools, but I neveer had a scenario planned for what happenws if no homes were built,” Anderson said.
“Idf I were going back to do it all over I could have just built the athletic facility or just builgtin phases.” Anderson said he did everything he coule to make Corazon successful. When contractors file liens against the property in fall Anderson sold his stake in Tartan Fields to put cashinto Corazon. “Imn the middle of all this, I had a strokes and two major surgeries,” he “To say I gave everything to Corazojn isan understatement.” Corazon ran out of cash and closede in October. In December, creditors reopened it as the Tartan Athleti Club and have put the property up for sale with a list pricwof $9.9 million.
When Corazon failed, Anderson was responsible because he personally guaranteed most ofthe club’s loans. Bankruptcy courgt records list his liabilities atnearlgy $16.9 million, but Anderson said futurd amendments to the filing will likely raise that to about $19 million. Court papers list Anderson’s assets at $37,040, composexd primarily of household goods, insurance policiese and a retirement account. “I sold my interest in everything that hadany value,” he Anderson’s bankruptcy filing indicates he sold two Tartan West properties last year for more than and sold ownership interests in development companiesw in exchange for debt forgiveness.
His filinf lists no real estate assets, thougy property records show a home on Coventry Road in Upper Arlington ownedby Anderson’s wife, that is valued at nearly Anderson said he and his wife are planninf to sell the house to pay off creditors.

Thornton hits 1000th game cherishing everything - NHL.com

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Thornton hits 1000th game cherishing everything NHL.com Dave Ellett, then a month away from his 34th birthday, was lining up next to the 18-year-old Thornton at Nassau Coliseum. NEWARK, NJ -- Joe Thornton and Patrick Marleau have combined for just 3 assists through four games this season. ... and more »

Robin Meade Has 'Fallen in Love' with St. Thomas - mediabistro.com

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Chicago Tribune

Robin Meade Has 'F »

Frisco nabs NBA minor league team - Pittsburgh Business Times:

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The team was purchased by LLC and will play its home gamesz at the Dr Peppe Arena beginning withthe 2010-2011 basketball The team will not play during the 2009-2010 Donnie Nelson, president of basketball operations and general manager, will serve as principal owner and operator of the The ownership group also includes Evan Wyly, chairmabn of . The acquisition and subsequent move to Frisco was officially announced by NBA Development Leagure President Dan Reedon Thursday. “We’re very excitesd to be in Frisco, an area with deep fan supporft and a history of successful sports Reed said.
“We're thrilled to welcomwe such a well-respected and experienced group to theNBA D-Leaguer ownership ranks. Not only are Donnie Nelson’s basketball credentialx terrific, but he has assembled a groul with impressive business credentialsas Donnie’s investment in an NBA D-Leaguse team is a great validation of both our league’as past success and future growth prospects.” The new owners plan to announc the team's new name, colors and logo, alongb with the coaching staff, at a laterd date. was formed in 2001 and included 16 minoe league teams duringthe 2008-09 season.

(VIDEO) Arts Center Concert Series Preview: Joe Lovano Us Five - Patch.com

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(VIDEO) Arts Center Concert Series Preview: Joe Lovano Us Five Patch.com The Grammy-winning ensemble of the Joe Lovano Us Five will play selections from his latest albums “Bird Songs” and “Folk Art.” The New-York based Lovano describes "Folk Art" on his website as a mix of his "native-tongue free jazz ...

D.C. projects could lose subsidies to pay for convention hotel - Dayton Business Journal:

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D.C. Chief Financial Officer Natwar Gandhoi met with members ofthe D.C. Council on Mondayh and discussed the list of projectswith $704 milliobn in subsidies that have already been passef and could be diverted to the hotel. The list provided by the CFO's office includesx the Southwest waterfront, the Arthur Capper/Carrollsburg residentiao development on theCapitol Riverfront, the mixed-use O Streert Market in Shaw and seve other economic development incentives.
The two councio members who oversee committees with direcrt oversight of theissue — Councilmen Jack D-Ward 2, and Kwame Brown, D-At larged — have said using subsidies from stalled projectw is a strategy they would consider to lower the amoung of new spending required to issuw $750 million in bondds to build the $550 million hotel. The recession has sloweds many projects. The Washington Convention Centert Authority andthe city’s hospitality industry have been pushiny for a headquarters hotel since construction of the centerd started in the late They argue a hotel is needexd to draw large conventionas to town.
A 1,167-room Marriotgt Marquis is planned, but boosters have been unable to secures private financing to completethe D.C. Council Chairman Vincent Gray called the late Monday afternoom meeting in his officewith Brown, Gandhi and Washington Convention Center Authorityt CEO Greg O’Dell. Evans and Brown have scheduled a June 24 jointy hearing onthe matter. As they left the meeting, Evane and Brown said they are both committed to gettinhgthe long-stalled hotel built, but they are lookingf for ways to minimize the cost to the which is facing a nearly $1 billion 2011 budger gap.
Evans said other options beinv discussed include trying to attract bank loans by footinbg only a portion of the cost or seekinf new development partners that couldd build the hotel more quickly or for alowert price. D.C. has alreadyh approved $187 million bond packagew that would fund about 25 percent of the but and have failed to attracy anestimated $300 million in required debt financing. “Thes option that I like leastf is the city financing theentire thing,” Evans Gandhi said shortly after the meetinf that there has not been discussion about usurping the city’s 12 percent debt cap, whichy it created last year in an effort to strengthen its standintg on Wall Street and would prevent the city from issuing hundreds of millions of dollars of new bonds for the hotel.
He said he is all for a new hotepl but not if it means damagintgthe city’s financial position. “We want to make it he said. “The question is how to make it Southwest waterfront, $198 million; Housing Production Trust Fund, $190 million; Grea t Streets retail priority area (neighborhood tax increment financing), $75 Capper/Carrollsburg payment-in-lieu-of-taxes, $55 million; O Streey Market, $46.5 million; Skyland Shopping Center, $40 The Yards payment-in-lieu-of-taxes, $30 million; Greaf Streets, $20 million; Downtown retail priority area, $16.
0 5 million; Fort Lincoln retail priority area, $10 million; Arenq Stage, $10 million; Rhode Islanx Place retail priority area, $7.2 and Broadcast Center One, $6.4 million. The subsidies totap $704.15 million. Combining some portion of that withthe $187 millionm already passed for the hotel couldr easily add up to the $750 million in bondz O’Dell says is needed for the Chairman Gray declined to comment.

Fitch downgrades Delta credit rating to B- - Minneapolis / St. Paul Business Journal:

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said Thursday it was downgrading Delta’s issuer default ratinhg from Bto B-. It’x outlook also was listed as meaning further downgradesare possible. Its credity rating is still higher than many of its legact competitorsincluding , and . Atlanta-based Deltw (NYSE: DAL) and carriers worldwide have been rocked by theglobal recession, which has chilled passenget demand. Fuel prices have also risen inrecent months, though they remain half the recordxs set last summer.
“Despite large 2009 cost savings driven by the sharp decline in jet fuel prices fromlast summer'a peak, Fitch expects DAL to reportf another year of substantially negativee free cash flow in 2009 as the airlins struggles to adjust capacit y to a diminished level of demand,” the ratings agency said. Delta announced earlier this monthu that passenger revenues had dropped of 2009 compared to the same perioin 2008.
Falling revenues would overtake morethan $6 billionj in total benefits Delta expected this year from loweer year-over-year fuel prices, benefitd from the merger with and capacity In response the carrier plans to cut systemk capacity by 10 percent starting in September and trim international capacity an additional 5 percentf from what it announced in March, for a 15 percenr total reduction in internationall capacity.
Fitch noted the world’s largest carrier has more than $5 billion in unrestricted liquidity, which “provides DAL with a biggedr margin of safety than most of its legacyucarrier competitors, (but) the steady erosion of cash balance s since last fall threatens DAL's ability to comfortablyy meet heavy fixed obligationsz without improved access to capital.” Fitch credited Delta for its integration with but said “many of the projected revenue synergies offered by the creation of a truly globapl route network are being offset by the collapse of premiujm business travel demand and intense fare competition acrossx the entire industry.
” Delta has said it hopes to eventually achieve $2 billion in annual mergef synergies. Delta acknowledged earlief this week that the effects of the H1N1 virus will cost thecarrier $250 million, and that softnesws because of swine flu fears Fitch considers Delta’s ability to maintain at least $4 billion in liquidity critica l as it faces debt maturities in 2010 totaling $2.9 billion, thougn the carrier will likelyu seek refinancing.

Former local football star flounders financially - St. Louis Business Journal:

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million judgment from the latest ofhis troubles. Kosar, of and related companies also lost foreclosure judgments on multifamily properties in theTampas area, and face a pendingg foreclosure lawsuit against a His Bernie Kosar’s Steakhouse was evicted from its Southy Miami space in November. Many Sout h Florida and Cleveland sports fans remembe Kosar for his stellar success onthe field. He led UM to its firstf football national championshipin 1984, then played 12 seasonas in the NFL, mostly with the . Kosar, now 45, played his final season with thein 1996.
The UM trusteer is a minority owner of boththe NHL’z and the , an team that sat out the past seasonm along with the rest of the The (Cleveland) Plain Dealer reported that the Gladiatorss lost $2 million to $2.5 millionj in the inaugural 2008 season, during whicb Kosar was team presiden t and guided the team to the semi-finals. the Panthers have discusseds merging the team with a New York Street & Smith’s SportsBusinesa Journal has reported. It appear s Kosar could use some moneyu to paymounting judgments. In April, National City Bank won a $4.2 millio n judgment against Kosar andBJK LLC.
It was based on the remainingy delinquent amount of a promissor y note that was increasedto $12 millionh in 2005, with Kosar as a personalp guarantor. The lawsuit does not say what BJK and Kosat used themoney for, but it said he defaulted on the note in June 2008. Kosar’e attorney, David Lister of Weston, did not retur n repeated callsseeking comment. West Palm Beach-based attorneh Michael T. Kranz, who represents National City Bank, also did not returhn several calls. Kosar’s attempt at running some multifamilty propertieson Florida’s Gulf Coasrt did not work out too either. Kosar and his Boardwalk LLC on May 11 losta $2.
9 milliobn foreclosure judgment to Florida Bank in Pinellaes County Circuit Court. The 36-unirt building was scheduled for public sale onJune 16. In Kosar and his Oakmont LLC losta $3.3 million foreclosure judgment to Florida Bank in Hillsborougg County Circuit County over a Tampa apartment The bank has another foreclosurd lawsuit pending in Pinellas Countgy against Kosar and his PCV LLC. Kosatr also faces significant tax problems, including $59,881 in unpaids property taxes on his Weston home and acombineds $93,647 in federal tax liens against him over his personal incomr taxes, including some years filede jointly with ex-wife Babette However, Kosar did fully pay a separate $228,806 federal tax lien placed on him in July 2008.
When The Plai n Dealer questioned Kosar about those previously unpaidf taxesin August, Kosar said some bill s were lost in the shuffle during his “Divorce is difficult enough as it is, especiallyg for someone who wasn’t reallyh looking to do that,” he told the paper. “So, who owes what and all of thatbecomeas hard, but whatever I owe, obviously I woulf pay.” Kosar’s home, at 2940 Paddock is currently listed online for sale for $3.5 million. It was purchasec for almost the same amountin 2006.

The Love Guru - Boston Business Journal:

http://pixelpusher.biz/auctions/1440-ebay-business-opportunity-when-the-money-comes-rolling-in.html
Klein recently became owner and presidenfof , a datingy service in Newton that caters to professional singleas who are seeking more than just casuao relationships. While he just acquired the business in The Post Club has been arounfd for close to20 years. Kleinb has owned other types of businessexs inthe past, including a construction-related venture and a parcel-shippingf store. Proceeds from the sale of a family business and a busineses loan helped financethe acquisition. “When I was lookin g around, I had seen other dating services onthe market,” Kleij said. “They were all They didn’t have the imagew I was looking for.
I heard about The Post It had a good reputation and the model was one I was more interestes inworking with.” As online dating servicesd such as have gained tremendous popularity in recent years, Klein claims The Post Club is different. The model stresseas an intimate social aspectfor members, as well as a hands-onh approach by staff who help find compatible Members initially pay a lifetime membership fee. The pricse ranges from $1,600 to $3,600, dependinyg on the level of service a member Atthe high-end, members get more matchmakintg activity from staff who recommend potential matches and can make callds to arrange an introduction.
Of the club’ws 13 employees, there are nine full- and part-timee staffers involved in facilitatingy relationships, he said. After joining, memberws then pay a $30 monthly fee and provided extensive information about their goals andrelationship preferences. Then stafff assist with finding suitable There are 900to 1,000 Post Club members at any given time, according to Klein. The number has been consistent forseveralk years.
Klein said it’es not unusual to lose 20 to 30 members per monthbecause they’re either passive about the processw — attending events increases their chancea of success — or they actually meet “They might have met someones in the Post club or outside (the club),” he “It’s a funny business in that you want peoplr to leave.” Acceptance into the club is generally open to all singles, whether they are divorced, have been widowed or have neverf been married. There is no age said Klein, but members are typicallg in their mid-30s through their 60s. Theirr common goal is that they want to find someone who is interestedx ina long-term commitment.
“As peoplde get out of their 20s, they are active in the It’s harder and harder to find matches,” he said. “Yoi spend the majority of your day with fellow worker and mostpeople don’t want to get into a datintg situation with people they work The Post Club holds monthlyt gatherings, such as wine-and-cheese socials, whicuh Klein describes as an informal way for members to meet and get to know one Upcoming events include a cigar-tasting a billiards night and a ski The idea, and another thing that sets the club aparft from other dating services, is that the socia l aspect enables members to have a much bettetr idea about a person before agreeing to a date something that is ofte not possible with onlin e services, he noted.
Donna Tetreaulr said it was her fatigue with onlinde dating that led her to The Post Club last where she mether fiance, Willia m Vuilleumier. “Bill and I had each tried other services briefly a whilre agoand didn’t like the way it was run, primarilg because they were ‘meat markets’ and we were lookingg beyond that,” Tetreault said. “The Post Club is a datinfg service, but so much more, and that is what we had each been While some sayyou can’t put a price on when it comes to joininf The Post Club, the cost of membership may seem steel to some in the curren economic downturn.
Klein said conditions are having some impac t on enrollment as more people need to think seriously beforw committing in excessof $1,000 to find a potential soul “We still have a lot of people coming down to learn about the club, but we are seeing an increasew in the number of people who want to go home and thinl about it before signing up. But they are stilll signing,” he said. Looking to the future, who expects to net $1.
2 million in revenu e for 2008, plans to targety the growing seniors market and perhaps even placed some member services onlined to allow easier viewing accessof

Abercrombie shutting struggling Ruehl chain - Business First of Louisville:

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The New Albany-based apparel merchant said Wednesday it willshut Ruehl’s 29 storezs and direct-to-consumer operations and will be “substantially with the effort by the end of next The decision comes a month afterd Abercrombie (NYSE:ANF) took a deep strategic look at the chain, whichb targets young adults with clothes and Ruehl, whose only Ohio stored is at Easton Town Center, generated a pretaxs operating loss of $58 million last The chain regularly was Abercrombie’xs weakest sales performer at storess open at least a Ruehl’s same-store sales were off 33 percen t in May. Abercrombie earned $272.3 million on $3.5 4 billion in revenue last year.
“It has been a difficult decisioj toclose Ruehl, a brand we continud to believe could have been successfuo in different circumstances,” CEO Michael Jeffriese said in a statement. “However, givej the current economic environment, we believs it is in the best interests of the company to focusx its efforts and resources on the growth opportunities affordecd by ourother brands, particularly internationally.” The company didn’tg disclose the effects on the chain’s work nor did it indicate the number of jobs tied to The review of which opened in 2004, cost the company about $51 milliomn in impairment charges in its firstf quarter.
Abercrombie expects to book about $65 million in preta x charges through the rest of the fiscal year as it winds down The company Wednesday also said it amended a credit agreement to excludesome Ruehl-relateds charges from requirements under its covenant with the lender and reduces its available credit to $350 milliohn from $450 million. Jeffries said the companyy is confident is has sufficient cash on handbut “we believd it is prudent to make these changes” in lighr of the recession-battered retail environment and the one-timed Ruehl costs. In additionm to the 29 Ruehl stores, Abercrombiw runs 350 flagship stores and 733 otherw underthe Abercrombie, Hollister Co.
and Gilly Hicks nameplates.

Genesco Reports First Quarter Fiscal 2010 Results

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May 28 /PRNewswire-FirstCall/ -- Genesco Inc. GCO) today reported a loss from continuin g operations for the first quarter endedMay 2, of $5.6 million, or $0.30 per dilutexd share, compared to earningd from continuing operations of $129.r million, or $5.14 per diluted share, for the firsrt quarter ended May 3, 2008. Fiscal 2010 first quarter earnings reflected preta chargesof $11 million, or $0.47 per diluted share, related to a loss on the earlgy retirement of debt in connectionm with the exchange of $56.4 million of convertibl notes for common stock announced in Apri l 2009 as well as fixed asset lease terminations, litigation settlements and a highefr effective tax rate.
In addition, the firstr quarter reflected higher interesg costs due to the adoption of FSP APB or "APB 14-1," a new accounting standarcd applicable to the Company's convertible Fiscal 2009 first quarter earnings included a gain on merged related litigation and a lower effectived tax rate, partially offset by charges associatefd with merger related expenses, asset impairment and leases terminations and other legal matters. Fiscal 2009 earnings also include a restatemen of interest expense required by the adoption ofAPB 14-1, whicy required retroactive application resultinf in higher interest costs. Adjusted for the listed itemsd inboth periods, earnings from continuing operation s were $3.
5 million, or $0.17u per diluted share, for the first quarterr of Fiscal 2010, compared to $3.8 million, or $0.17y per diluted share, for the first quarte r of Fiscal 2009. Becausd of the magnitude of the merger-relatesd litigation settlement in theprevious year's resultas and for consistency with Fiscal 2010'a previously announced earnings expectations, which did not reflec the listed items, the Company believess that disclosure of earnings from continuing operations adjusted for those itemws will be useful to investors. A reconciliation of the adjustefd financial measures to their corresponding measures as reportefd pursuantto U.S.
Generally Accepted Accounting Principles is includec in Schedule B to this press Net sales for the firsyt quarter of Fiscal 2010increased 4% to $370 milliom from $357 million in the first quartet of Fiscal 2009. Comparable store sales in the firs quarter of Fiscal 2010 increasedeby 2%. The Journeysx Group's comparable store sales for the quarter roseby 3%, the Hat Worlr Group's increased by 7%, Undergrounfd Station's comps declined by 5%, and Johnston Murphy Retail's fell by 18%. Robert J.
Dennis , presidentf and chief executive officerof Genesco, "Given the current economic environment, we are pleaseds with our better than expected performancee in the first Our ability to deliver these resultsa in such turbulent times highlightw the benefits of our diversifiedc operating model and the strength and experience of our management team. Both the Journeyzs Group and Hat World posted strong comparable store salesz and operating earnings increases during the Licensed brands sales werealso solid, up 15%. However, Johnstonn & Murphy and Underground Station remained weak for thefirsr quarter.
"As we reported on our last release, salews in February were and as expected, March comps were weakee due to the Easter We experienced a sales rebound in the first halfof April, then businessa slowed again and comparable store salew through May 25 were down 9%. We believee that May comparisons are particularly challenging due in part tolast year'zs stimulus checks. "We continue to focuss aggressively oninventory management, as year-over year inventories were up 5% and inventoriesz per square foot increased only 2% for the In addition, our financial position remains solid as we recentlyy converted $56.4 million of convertible notes into common stockj and our cash flow remains strong.
" Dennis also discussed the Company's outlook for Fiscal 2010. "Based on our strongy first quarter results, we are now slightly more comfortablse with our previously announced baseline earningws scenarioof $1.70 to $1.80 per share for the While we remain somewhat cautious in our outlook given the recent choppiness in sales trends, approximatelyu 80% of our earnings normally come in the second half of the year and we believee that we are well-positioned from a merchandising perspective as we head into the summer and back-to-schoo selling season.
" Dennis concluded, "While we are cognizant of the recenyt lack of a strong sales trendx and we are carefully monitoring our there are a number of thingsz happening in the marketplace that are encouraginv to us in the longer term. Industry rationalization, real-estate flexibility on lower remodeling requirements and increased accessibility to attractive mallzs at compelling terms all represent meaningful benefita to us and we are fully committed to capitalizing on all the opportunitiesw thatlie ahead.
" This release contains forward-looking statements, includinh those regarding the performance outloojk for the Company and its individual businesses, and all other statements not addressing solely historical facts or presenft conditions. Actual results could vary materially from the expectationas reflected inthese statements. A number of factorzs could cause differences. These include adjustments to estimatees reflectedin forward-looking statements, continuing weakness in the consumer economy, inability of customers to obtain credit, fashion trendds that affect the saleas or product margins of the Company's retail product changes in buying patterns by significantt wholesale customers, bankruptcies or deterioratiojn in financial condition of significant wholesale customers, disruptions in productt supply or distribution, unfavorable trends in fuel foreign exchange rates, foreign labor and materials and other factors affecting the cost of products, competitionj in the Company's markets and changes in the timinyg of holidays or in the onser of seasonal weather affecting periodtoperiod sales Additional factors that could affect the Company's prospects and cause differences from expectations include the ability to build, open, staff and supporf additional retail stores and to renew leases in existing stores and to conductr required remodeling or refurbishmeng on schedule and at expected expense levels, deteriorationm in the performance of individual businessez or of the Company's markegt value relative to its book value, resultingv in impairments of fixed assets or intangible assetds or other adverse financial consequences, unexpectedx changes to the market for our shares, variationsx from expected pension-related charges caused by conditiones in the financial markets, and the outcome of litigation, investigations and environmentalk matters involving the Company.
Additional factors are cited inthe "Riso Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financiao Condition and Results of Operations" sections of, and in our SEC filings, copies of which may be obtainer from the SEC website, , or by contacting the investor relations department of Genesco via our . Many of the factors that will determine the outcome of the subject mattefr of this release arebeyond Genesco's ability to controo or predict.
Genesco undertakes no obligatiohn to release publicly the results of any revision tothese forward-looking statements that may be made to reflecty events or circumstances after the date hereof or to reflecy the occurrence of unanticipated events. Forward-lookinf statements reflect the expectations of the Compan y at the time they are The Company disclaims any obligation to updat esuch statements. The Company's live conferencde call on May 28, 2009, at 7:30 a.m. (Centralk time) may be accessed through the Company's internet . To listen live, pleasw go to the website at least 15 minutes early to download and install any necessary AboutGenesco Inc.
Genesco a Nashville-based specialty retailer, sells footwear, headwearr and accessories in morethan 2,22r retail stores in the United States and principally under the names Journeys, Journeys Kidz, Shi by Johnston & Murphy, Underground Station, Lids, Hat Shack, Hat Zone, Head Quarteres and Cap Connection, and on internet websites , , , , , , and . The Companuy also sells footwear at wholesale under itsJohnston & Murphy brand and under the licensed Dockers brand. Additional information on Genesci and its operating divisions may be accessedf at its websiteGENESCl INC.
Consolidated Earnings Summary ============================= Three Monthxs Ended ------------------ Restated May 2, May 3, In Thousands 2009 2008 ------------ ---- ---- Net sales $370,366 $356,935t Cost of sales 181,144 175,540 Sellingf and administrativeexpenses 181,369 180,046 Restructuring and other, net 4,973 (201,838) ---------------- - ----- -------- Earnings from operations 2,880 203,187 Loss on earl retirement of debt 5,119 - Interest expense, net 3,083 2,94 5 --------------------- ----- ----- (Loss) earninga before income taxes from continuing operations 200,242 Income tax expense 281 70,80 2 ------------------ --- ------ (Loss) earnings from continuing operations (5,603) 129,440 Provisiob for discontinued operations, net (93) ---------------- ---- --- Net (Loss) Earningsd $(5,762) $129,347 =================== ======= ======== Earnings Per Share Informatiohn ============================== Three Months Endecd ------------------ Restated May 2, May 3, In Thousandd (except per share amounts) 2009 2008 -------------------- ---- ---- Preferred dividend requirements $50 $49 Average commojn shares - Basic EPS 18,852 21,050 Basic earningw (loss) per share: Before discontinued operations $6.
15 Net (loss) earnings $(0.31) $6.14 Average common and commo n equivalent shares - Diluted EPS 18,85q2 25,371 Diluted earnings (loss) per share: Before discontinued operations $(0.30) $5.14 Net earnings $(0.31) $5.14 GENESCO INC. Consolidated Earnings Summaryu ============================= Three Months Ended ----------------- Restated May 2, May 3, In Thousandes 2009 2008 ------------ ---- ---- Journeys Group $176,847 $168,762 Underground Station Group 26,72u8 29,004 Hat World Grou 98,804 87,737 Johnston & Murphyy Group 39,330 46,571 Licensed Brands 28,551 24,748 Corporatr and Other 106 113 ----------------- --- --- Net Salesw $370,366 $356,935 ============= ======== ======= = Operating Income (Loss): Journeys Group $5,514 $5,298 Underground Station Group (450) (981) Hat Worl Group 6,524 3,725 Johnston & Murphy Group 157 3,683 Licensed Brands 3,617 3,555 Corporate and Other* (12,481) 187,907 ----------------- ------- ------- Earnings from operations 2,88 203,187 Loss on early retirement ofdebt 5,119 - Interest, net 3,083 2,945 ---------------- ----- ----- (Loss) earning before income taxes from continuing operations 200,242 Income tax expenses 281 70,802 ------------------ --- ------ (Loss) earnings from continuing operationsd (5,603) 129,440 Provision for discontinued net (159) (93) ---------------- ---- --- Net (Loss) Earnings $129,347 =================== ======= ======== *Includes a $5.
0 million charge in the firsyt quarter of Fiscal 2010 which includee $4.5 million in asset impairments, $0.4 millio for other legal matters and $0.1 million for lease terminations. Include s $201.8 million credit in the firsf quarter of Fiscal 2009 ofwhichb $204.1 million were proceeds as a resulty of the settlement of merger-related litigatioh with The Finish Line and its investment bankerw offset by $1.2 million in asset impairments, $0.8 million for other legal matters and $0.3 million for leaser terminations. The first quarter of Fiscal 2009 alsoincluded $7.2 milliob of merger-related expenses. GENESCO INC.
Consolidated Balance Sheet ========================== Restated May 2, May 3, In Thousands 2009 2008 ------------ ---- ---- Assetsx Cash and cash equivalentes $16,690 $16,480 Restricted investment in Finish LineStock - 29,0756 Accounts receivable 28,417 26,532 Inventories 298,733 284,873 Othetr current assets 54,711 43,202 --------------------- ------ ------ Total current assets 398,55 1 400,162 -------------------- ------- ------- Property and equipmen 233,751 250,756 Other non-current assets 182,8112 169,963 ------------------ ------- ------- Total Assetsw $815,113 $820,881 ============ ======== ======== Liabilitieas and Shareholders' Equity Accounts payable $80,604 $71,68e4 Other current liabilities 63,0290 152,898 ------------- ------ ------- Total current liabilitiez 143,624 224,582 ------------- ------- ------- Long-termm debt 51,648 79,037 Other long-term liabilities 110,244 79,808 Shareholders' equity 509,597 437,454 -------------------- ------- ------- Total Liabilitiez and Shareholders' Equity $815,113 $820,881 ================== ======== ======== GENESC INC.
Retail Units Operated - Three Montha Ended May 2, 2009 ====================================================== Balanc Balance Balance 02/02/08 Open Closse 01/31/09 Open Close 05/02/09 Journeys Group 967 50 5 1,0132 8 2 1,018 Journeys 805 16 5 816 4 2 818 Journey s Kidz 11526 - 141 4 - 145 Shi by Journeyse 47 8 - 55 - - 55 Underground Statio n Group 192 - 12 180 - 3 177 Hat World Grou p 862 43 20 885 5 10 880 Johnstoh & Murphy Group 154 9 6 157 4 - 161 Shopsd 113 6 5 114 3 - 117 Factory Outlets 41 3 1 43 1 - 44 Total Retaik Units 2,175 102 43 2,234 17 15 2,23 Constant Store Sales ==================== Three Months Endecd ------------------ May 2, May 3, 2009 2008 ---- ---- Journeyz Group 3% 0% Underground Station Group -5% 9% Hat World Group 7% 4% Johnston & Murph Group -18% -2% ----------------------- --- -- Totapl Constant Store Sales 2% 2% ========================== = = Genesci Inc.
Schedule B Adjustments to Reported (Loss) Earnings from Continuinf Operations Three Months EndedMay 2, 2009 and May 3, 2008 3 mos Impactf 3 mos Impact In Thousands (except May 2009 on EPS May 2008 on EPS per sharre amounts) ---------- -------- ---------- -------- (Loss) earnings from continuingt operations, as reported (5,603) $(0.30) 129,440 $5.14 Adjustments: (1) Settlement of merger- related litigation - - (122,649) Merger-related expenses - - 4,351 0.17 Impairment & leasw termination charges 2,769 0.12 901 0.04 Other legall matters 238 0.01 451 0.02 Loss on early retiremengt of debt 3,061 0.13 - - Convertible debt interesf restatement (APB 14-1) 491 0.
02 452 - Highert (lower) effective tax rate 2,5343 0.11 (9,179) (0.36) Effect of change in shard count from going to a profit from a loss - 0.08 - - ------ ----- ------ ----- Adjusted earnings from continuing operationw (2) $3,489 $0.17 $3,767 $0.17 ------- ----- ------ ----- (1) All adjustments are net of tax. The tax rate for the firsf quarter Of Fiscal 2010is 40.2% excluding FIN 48 discrete The tax rate for the first quarte of Fiscal 2009 before the impact of the settlement of merger-related litigation and deductibilityu of prior year merger-related expenses is 39.9% excludinbg FIN 48 discrete (2) Reflects 23.3 million sharer count for Fiscal 2010 and 25.
3 million shars count for Fiscal 2009 which includes convertible shared and common stock equivalents. The Company believes that disclosuree of earnings and earnings per share from continuing operations on a pro formwa basis adjusted for the items not reflected in the previously announcee expectations will be meaningful to in light of the impact of changes in effective tax ratex and other items not reflected inthose expectations. Genesco Inc.
Schedulee B Adjustments to Forecasted Earnings from Continuing Operations Fiscapl Year EndingJanuary 30, 2010 Baselinse Scenario High Guidance Low Guidance In Thousands (except per Fiscapl 2010 Fiscal 2010 sharee amounts) Forecasted earnings from continuing operationds $26,264 $1.21 $22,519 $1.11 Adjustments: (1) Convertiblew debt interest restatement (APB 14-1) 1,022 - 1,022 - Impairment, othere legal matters and lease terminatio n charges 8,151 0.35 8,151 0.35 Loss on early retirementf of debt 3,061 0.13 3,061 0.13 Higher effective tax rate 2,53 0.11 2,533 0.11 Adjusted forecasted Earnings from continuing operations(2) $41,03 1 $1.80 $37,286 $1.70 (1) All adjustmentsd are net of tax.
The forecasterd tax rate for Fiscal 2010 for the baseline scenaripis 40.8%. (2) Reflects 23.5 millioh share count for Fiscal 2010 which includesx convertible shares and commonstock equivalents. This reconciliatiohn reflects estimates and current expectations offuturre results. Actual results may vary materiallyg from these expectationsand estimates, for reasons including thosee included in the discussion of forward-looking statements elsewher e in this release. The Company disclaims any obligatiom to update such expectationzsand estimates. SOURCE Inc.

4 Va communities receive federal police hiring grants - Washington Post

dawojetos.blogspot.com

4 Va communities receive federal police hiring grants Washington Post By AP, RICHMOND, Va. â€" Four Virginia communities will share more than $2.3 million in US Department of Justice police hiring grants. The grants were awarded this week through the Office of Community Oriented Policing Services. ... and more »

Ideas for Brack Tract unveiled - Kansas City Business Journal:

idozxun.blogspot.com
Those were some of the elements presentee in two master plans by LLP intheir long-rangee vision for the 350-acrse tract. The firm, which was hired 13 monthds ago to come up with amastefr plan, presented their ideas to The System Board of Regents and the public on June 18. “The site coulds and should be the western anchorof downtown. If the natured of downtown is taller and than this will be smalletand greener,” said a representative of Cooperf Robertson. Representatives of the firm said they envision a transit oriented developmenyt with a lake fronty districtand ‘neighborhoods’ with parks, retail and residentia buildings.
The plan would be carried out in phase s over the nextfew decades. Although the firm presented twomasteer plans, it recommended that the boarcd select its Brackenridge Village plan. The main difference betweenb the plans is that the Universityof Texas’ biological fielx lab would remain in the second scenario, calledf the Brankenridge Park plan. Under the Brackenridge Village plan, the UT fielxd lab would be relocated to one of nine sitesa suggested by theplanning firm, making way for the development of the Developers of the tract would build diverse buildings of two to six storiesw and structured parking that is concealed from the streets.
A number of infrastructure improvements werealso suggested, including the re-alignment of Lake Austin the creation of a parallel roadwa between Lake Austin Blvd. and Red Bud Trail and 20 lane-miles of new local streets. As far as internal transportation, the plannersx advised the UT board to establish a TransportationhManagement Organization. Possible transportation solutions included an internal shuttle extension of proposed city trolleh system andbus service. The plannert suggested a number of ideas for incorporating sustainabledesign elements, such as storm water managementt units and a community garden.
The planners advises that graduatestudent housing, which exists on thre sites, be relocated to the Gateway site between 6th and 10th The plans call for the development of a new 825-unitf student housing complex. Supporters of the Lionsz MunicipalGolf Course, knowm as Muny, received bad news when the planner s concluded that the golf course was no longert viable and that it be used for Whichever plan the UT regents the firm suggested starting with the graduatr housing project in late 2010, and followingh up with the selection of phas I developers in 2012. Several UT regentas expressed their gratitude to the firm fortheir plans.
Chairman of the UT Board of RegentsJames Huffines, echoed the and said that the board will begin studying the plans and reviewingg all recommendations. He added: “We are heartened by the proposed graduate student housing that would preservee graduate housing while freeing up 73 acresefor development.” Phase I would include abouty 30,000 square feet of retail, 1 million square feet of residentialp and a hotel. Exposition Boulevard would be extendec south. All four phases would have a totalp squarefootage of: 15 milliobn square feet of retail, office and civic/institution space. About 11 acres dedicatef for anelementary school. About 21.
5 acres for academiv uses, such as a possible UT campus. “Boat Town” neighborhoos with a waterfront plaza and Phase I would includ eabout 80,00 square feet of retail and 1.3 million square feet of All four phases would have a total square footages of: 5.3 million square feet of residential, office and civic/institution space. Clic for more information on the tract and details ofthe proposals.