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Joe Vitale, a battalion chiev and public information officer forthe , said Monday that the KCFD received cell phone calls reporting an explosiojn and fire at the buildingf about 12:45 a.m. Monday. The KCFD dispatchedx 12 to 15 pumpers, aeriao ladders and other fire departmenty vehicles to the scened ofthe two-alarm fire, Vitald said. Firefighters found heavy smoke and fire runninbg laterally alongthe building’s roof line, he said. The bricl veneer on the building’s south side had blowhn off, he said, “so there was some concerjn aboutstructural integrity.” Firefighters vented the roof and broughf the fire under control within 40 minutes, he said. No injuriese occurred.
Smoke but no fire spread to thevacant five-stort building immediately to the Vitale said. A spokeswoman for the local ATFE office said Wednesda that theoffice isn’t commenting about the Officials with the KCPD couldn’t be reached for comment. owns the restaurantf and Hereford House locationxin Independence, Leawood, Shawnee and the Northland, and Pierpont’as at Union Station. Jim Stanislav, Anderson Restaurant Group’ CFO, said Wednesday that the damagedd Hereford House had about 75full - and part-time employees. Most of them have been transferred to otherecompany restaurants, he said. Stanislav said the companh has no information aboutthe fire’se cause.
He said the compangy hopes to reopen the restaurant inthat location.
Thursday, June 30, 2011
Tuesday, June 28, 2011
Legg Mason appoints head of international asset managment - Baltimore Business Journal:
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Fetting can check one thinf offhis list. On Monday, Legg namede Ronald R. Dewhurst head of internationaloasset management. Dewhurst will join Legg LM) Feb. 11, workinvg from offices in Londonand Melbourne, Australia. He will work with Legg' investment and distribution unitsin Europe, Asia and the From 2004 to 2007, Dewhurst was CEO of , an Australiahn money manager. Before that, he spent about 10 years working in internationao money managementfor J.P. Morgan, including as head of Asian equitie in Hong Kong and head of Europeanh equitiesin London.
In a news Dewhurst called Legg "a highly respected firm that is establisher in keyglobal markets, but that has room to As Fetting takes over as CEO, Legg one of the world's largest money faces some challenges to its growth. It recentlt sold $1.3 billion in bonds to privatew equity firm to shore up its balance sheeyt after pouring money into investments that took a hit fromthe subprime-mortgagee crisis. Legg has nearly $1 trillion in assets under management.
Fetting can check one thinf offhis list. On Monday, Legg namede Ronald R. Dewhurst head of internationaloasset management. Dewhurst will join Legg LM) Feb. 11, workinvg from offices in Londonand Melbourne, Australia. He will work with Legg' investment and distribution unitsin Europe, Asia and the From 2004 to 2007, Dewhurst was CEO of , an Australiahn money manager. Before that, he spent about 10 years working in internationao money managementfor J.P. Morgan, including as head of Asian equitie in Hong Kong and head of Europeanh equitiesin London.
In a news Dewhurst called Legg "a highly respected firm that is establisher in keyglobal markets, but that has room to As Fetting takes over as CEO, Legg one of the world's largest money faces some challenges to its growth. It recentlt sold $1.3 billion in bonds to privatew equity firm to shore up its balance sheeyt after pouring money into investments that took a hit fromthe subprime-mortgagee crisis. Legg has nearly $1 trillion in assets under management.
Sunday, June 26, 2011
Hawaii mac nut harvest up 22% - Portland Business Journal:
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Hawaii’s 2008-09 mac nut harves this year is up 22 percentto 50,000 pounds, the U.S. Departmenr of Agriculture reported Monday. That’s up from 41,000 pounds the previous the smallest harvestsince 1985. Growers are gettingb paid more, too, a net 67 cents per pound, up from 60 cent the previous year. The season starts July 1 and ends the followintgJune 30. “Timely showers and an increased demanfdfor in-shell nuts contributed to this season’se higher output,” the USDA said, but also noted that pigs, pestse and volcanic haze on the Big Island damagedc some orchards.
But the prices growers are getting is stilol far below the peak of 90 cents in the late The report said some Hawaii growers decidesit wasn’t worth picking the crop “and may switcjh to other commodities or temporarily stop Harvested mac nut acreage was the same as the previouzs year at 15,000, but the yielsd per acre was up from 2.7 to 3.3. The numberd of mac nut farms was also up from 525to 570, but down from 650 in 2004.
Hawaii’s 2008-09 mac nut harves this year is up 22 percentto 50,000 pounds, the U.S. Departmenr of Agriculture reported Monday. That’s up from 41,000 pounds the previous the smallest harvestsince 1985. Growers are gettingb paid more, too, a net 67 cents per pound, up from 60 cent the previous year. The season starts July 1 and ends the followintgJune 30. “Timely showers and an increased demanfdfor in-shell nuts contributed to this season’se higher output,” the USDA said, but also noted that pigs, pestse and volcanic haze on the Big Island damagedc some orchards.
But the prices growers are getting is stilol far below the peak of 90 cents in the late The report said some Hawaii growers decidesit wasn’t worth picking the crop “and may switcjh to other commodities or temporarily stop Harvested mac nut acreage was the same as the previouzs year at 15,000, but the yielsd per acre was up from 2.7 to 3.3. The numberd of mac nut farms was also up from 525to 570, but down from 650 in 2004.
Thursday, June 23, 2011
Injury prevents Shah Rukh Khan from wishing Abhishek - Times of India
http://www.slimorama.com/content/2011/06/
Injury prevents Shah Rukh Khan from wishing Abhishek Times of India Shah Rukh Khan and Abhishek Bachchan are the best of friends. However, they haven't been able to spend time or meet for the last few months. Abhishek's been out of the country shooting a film, while SRK was busy with IPL and the post production of his ... |
Tuesday, June 21, 2011
Eddie Bauer declares bankruptcy - Business First of Buffalo:
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had struggled with its debt — a crisis that worsened as revenue part of an overall trend affecting most retailera duringthe recession. The company has lost nearlyy a half billion dollars in the pastthree years. Thosed losses, coupled with the impact of the recessio n and debt payments apparently pushed the company into bankruptctycourt — a move that was rumored for Eddie Bauer became the latest major retailed to succumb to filing in bankruptcy courr this recession.
The list also includes Linensa ‘n Things, Circuit City and Northwesy retailer , which sold its assets to a liquidator in April and closed 31 Inmany ways, Eddie Bauer’s crisiz is not different from what most retailers are facing during this prolonged and deep recession, said Greg an Atlanta-based consultant for Conway MacKenzier who works with financially stressed retailers looking to restructure.
Most retailersa — except discount stores like Wal-Mart — have seen a fast drop-off in retail revenue across the board, Charleston Many of the specialty retail department storesz haveseen double-digit same-store sales declines, he “When revenue drops and same-store sales companies with less debt can weather a downturn much longer,” Charlestohn said. “It becomes an issue much sooner if you are intoliquiditty issues.” As of May 11, Eddier Bauer reported having $289.5 million in outstandinhg debt, including $187.
8 million in term loans and $75 million in convertible notes, which company executived have been trying to persuadde debt-holders to convert into shares of the company. According to a filing with the , Eddire Bauer had total assetsof $525.22 million in The company listed total liabilities of $448.9 Eddie Bauer reported net losses of $165.65 million in fiscal year 2008, part of a totao of $478.7 million in losses during the past three fiscal In the first quarter that ended in the company reported net losses of 44.5 For the first quarter of fiscal year which ended April 4, Eddiew Bauer reported a loss of $44.t million.
That was a greater loss than the firstt quarterof 2008, when the companyh reported a $19.3 million loss. Net salez for the first quarter of 2009were $179.u million, compared with net sales of $213.2 million in the first quarter of 2008. The companh said that combined comparable storesales — a barometefr of success at the store level fell 11.3 percent for the first a decline the company blamed on the recessiom and reduced retail spending. Sales were down nearlty 15 percent inEddie Bauer’s retail stores and sale through its direct channel were down nearlt 11 percent. The outlet stores saw sales decline by nearlhy76 percent.
“The first quarteer was a difficult one, as the sharp downturn in the economy took its toll on our We continued to focus on cost cutting and cashflow management, whicu helped mitigate the impact of lower said CEO Neil in a statement with the first-quartetr results filed with the SEC. Eddie Bauere has 370 stores, including 251 retail stores and 119 outlet stores in the United Statesand Canada. Eddie Bauer has 17 storez in Washington and 11 storesin (See a copy of the bankruptcy filing .) But by filinhg for reorganization under Chapter 11 of the federal bankruptcy Eddie Bauer hopes to avoid the fate of Joe’s Sporta & Outdoor, which filed for bankruptcyg protect March 4.
The Wilsonville, Ore.-based compang had hoped to find a ButIn April, a bankruptcy judge approved the liquidationh of the Joe’s stores after the company could not find a Joe’s had 31 Northwest stores — 10 of them in King and Pierce counties — that held going-out-of-business salex after the company’s assets were snappec up at bargain basement prices by , a liquidato that also sold off merchandise for Circuit City.
had struggled with its debt — a crisis that worsened as revenue part of an overall trend affecting most retailera duringthe recession. The company has lost nearlyy a half billion dollars in the pastthree years. Thosed losses, coupled with the impact of the recessio n and debt payments apparently pushed the company into bankruptctycourt — a move that was rumored for Eddie Bauer became the latest major retailed to succumb to filing in bankruptcy courr this recession.
The list also includes Linensa ‘n Things, Circuit City and Northwesy retailer , which sold its assets to a liquidator in April and closed 31 Inmany ways, Eddie Bauer’s crisiz is not different from what most retailers are facing during this prolonged and deep recession, said Greg an Atlanta-based consultant for Conway MacKenzier who works with financially stressed retailers looking to restructure.
Most retailersa — except discount stores like Wal-Mart — have seen a fast drop-off in retail revenue across the board, Charleston Many of the specialty retail department storesz haveseen double-digit same-store sales declines, he “When revenue drops and same-store sales companies with less debt can weather a downturn much longer,” Charlestohn said. “It becomes an issue much sooner if you are intoliquiditty issues.” As of May 11, Eddier Bauer reported having $289.5 million in outstandinhg debt, including $187.
8 million in term loans and $75 million in convertible notes, which company executived have been trying to persuadde debt-holders to convert into shares of the company. According to a filing with the , Eddire Bauer had total assetsof $525.22 million in The company listed total liabilities of $448.9 Eddie Bauer reported net losses of $165.65 million in fiscal year 2008, part of a totao of $478.7 million in losses during the past three fiscal In the first quarter that ended in the company reported net losses of 44.5 For the first quarter of fiscal year which ended April 4, Eddiew Bauer reported a loss of $44.t million.
That was a greater loss than the firstt quarterof 2008, when the companyh reported a $19.3 million loss. Net salez for the first quarter of 2009were $179.u million, compared with net sales of $213.2 million in the first quarter of 2008. The companh said that combined comparable storesales — a barometefr of success at the store level fell 11.3 percent for the first a decline the company blamed on the recessiom and reduced retail spending. Sales were down nearlty 15 percent inEddie Bauer’s retail stores and sale through its direct channel were down nearlt 11 percent. The outlet stores saw sales decline by nearlhy76 percent.
“The first quarteer was a difficult one, as the sharp downturn in the economy took its toll on our We continued to focus on cost cutting and cashflow management, whicu helped mitigate the impact of lower said CEO Neil in a statement with the first-quartetr results filed with the SEC. Eddie Bauere has 370 stores, including 251 retail stores and 119 outlet stores in the United Statesand Canada. Eddie Bauer has 17 storez in Washington and 11 storesin (See a copy of the bankruptcy filing .) But by filinhg for reorganization under Chapter 11 of the federal bankruptcy Eddie Bauer hopes to avoid the fate of Joe’s Sporta & Outdoor, which filed for bankruptcyg protect March 4.
The Wilsonville, Ore.-based compang had hoped to find a ButIn April, a bankruptcy judge approved the liquidationh of the Joe’s stores after the company could not find a Joe’s had 31 Northwest stores — 10 of them in King and Pierce counties — that held going-out-of-business salex after the company’s assets were snappec up at bargain basement prices by , a liquidato that also sold off merchandise for Circuit City.
Sunday, June 19, 2011
Salary scales for WNY teachers - Business First of Buffalo:
zemlyanikiyri.blogspot.com
Three figures are provided for eachdistrict -- the salariezs at the start, median and peak of a typical teacher’w career. Here’s how they were • The starting salary is the fifth percentile figure for agiven (Percentiles indicate where a teacher’s paycheck ranks withihn a district. A salary at the fiftu percentile is bigger than5 percent, and smaller than 95 percent, of salaries in a district.) • The mediajn salary is the midpoint, largedr than half and smaller than half of all pay levelsz for teachers within a • The peak salary is the 95th percentile, whicbh is larger than the annual pay earnede by 95 percent of all teachers in a district.
Each salaryu is followed by its rank amonvthe region’s 98 districts. Akron’s startinyg pay of $38,637 is followed by (13). That means it’s the 13th-highest starting salary in all of Western New Its median salary is 42nd in that and its peak salary is 21st onthat • • • (Genesee, Orleans and Wyoming counties) (Allegany, Cattaraugus and Chautauqua
Three figures are provided for eachdistrict -- the salariezs at the start, median and peak of a typical teacher’w career. Here’s how they were • The starting salary is the fifth percentile figure for agiven (Percentiles indicate where a teacher’s paycheck ranks withihn a district. A salary at the fiftu percentile is bigger than5 percent, and smaller than 95 percent, of salaries in a district.) • The mediajn salary is the midpoint, largedr than half and smaller than half of all pay levelsz for teachers within a • The peak salary is the 95th percentile, whicbh is larger than the annual pay earnede by 95 percent of all teachers in a district.
Each salaryu is followed by its rank amonvthe region’s 98 districts. Akron’s startinyg pay of $38,637 is followed by (13). That means it’s the 13th-highest starting salary in all of Western New Its median salary is 42nd in that and its peak salary is 21st onthat • • • (Genesee, Orleans and Wyoming counties) (Allegany, Cattaraugus and Chautauqua
Friday, June 17, 2011
Jurors award diabetic bodybuilder $217K in civil case involving Redwood City ... - San Jose Mercury News
http://britney-news.com/song.php?id=54
Jurors award diabetic bodybuilder $217K in civil case involving Redwood City ... San Jose Mercury News Redwood City police violated a diabetic bodybuilder's civil rights in a confrontation at a downtown movie theater four years ago, a federal jury decided Thursday afternoon. After three days of deliberations, jurors determined that ... |
Tuesday, June 14, 2011
Report: Anheuser-Busch InBev to sell 11 European breweries - Silicon Valley / San Jose Business Journal:
ucojaje.wordpress.com
Le Soir said the world’x largest brewer was selling its central European operations becauser it is fragmentedand non-strategic and plans to focus on its nort and south American operations instead, according to The breweries are in Bulgaria, Romania, Croatia, Czech Republic, Serbia and Montenegro. , Kohlberg Kravizs Roberts and are among private equityy groups that have expressed interesr inthe assets, the Financial Times of London reportedc Monday. A-B InBev wants to sell off assetws as it tries to raise mone to reduce the debt it took on when itbought St. Louis-baseds Anheuser-Busch last year for $52 billion.
“We are contemplating disposal of certain assets tohelp re-financed the acquisition of Anheuser-Busch, as previously Marianne Amssoms, an A-B InBev spokeswoman, wrote in an e-mail to the Businesss Journal. “However, we cannot commentr at this stage on which businesses specifically wouldbe considered. Anheuser-Busch InBev's decision will be basee on a diligent reviewq of the strategic and financial consequences of any with the goal of creating the best opportunities and value forall constituents. We will not commenf on who has approached us forwhich assets.
” In A-B InBev reached an agreement to to Kohlberg Kravis
Le Soir said the world’x largest brewer was selling its central European operations becauser it is fragmentedand non-strategic and plans to focus on its nort and south American operations instead, according to The breweries are in Bulgaria, Romania, Croatia, Czech Republic, Serbia and Montenegro. , Kohlberg Kravizs Roberts and are among private equityy groups that have expressed interesr inthe assets, the Financial Times of London reportedc Monday. A-B InBev wants to sell off assetws as it tries to raise mone to reduce the debt it took on when itbought St. Louis-baseds Anheuser-Busch last year for $52 billion.
“We are contemplating disposal of certain assets tohelp re-financed the acquisition of Anheuser-Busch, as previously Marianne Amssoms, an A-B InBev spokeswoman, wrote in an e-mail to the Businesss Journal. “However, we cannot commentr at this stage on which businesses specifically wouldbe considered. Anheuser-Busch InBev's decision will be basee on a diligent reviewq of the strategic and financial consequences of any with the goal of creating the best opportunities and value forall constituents. We will not commenf on who has approached us forwhich assets.
” In A-B InBev reached an agreement to to Kohlberg Kravis
Sunday, June 12, 2011
Pryor Won't Cooperate With NCAA Investigators - New York Times
ovaluleq.wordpress.com
Fox News | Pryor Won't Cooperate With NCAA Investigators New York Times By AP Terrelle Pryor will no longer cooperate with NCAA investigators looking into Ohio State's footb » |
Friday, June 10, 2011
William Boyd Printing site sold for $1.3M - Baltimore Business Journal:
vickreyafolori1839.blogspot.com
Ltd., an affiliate of Cos. in Cliftob Park, closed on the $1.3 million purchase on June 3. Cass Hill intendxs to convert theformer 1.3-acre industrial site at 39-49 Sheridam Ave. into an office/retail/residential project. The properth is located behindthe & Suites on Chapelk Street, near the heart of the city’s entertainment Tony Sabatino of representef the seller. Cass Hill was represented by Eilee Lindbergof /Albany. Marc H. Paquin, president of Cass Hill Developmentt Cos.
, couldn’t be reached for Cass Hill owns severalproperties downtown, including a 30,000-square-foort office building on Monroe Street acrosse from the former printing Boyd Printing filed for Chapter 11 bankruptcy protection in Septembert 2005. A federal bankruptcy judged in March 2008 approved the sale of the buildings to help satisftythe company’s debts. Some of the company’zs assets were purchased by Carl Johnson, an officerd at Boyd Printing, who opened a separates corporation, Inc., in Colonie. Previous deals for the Sheridanh Avenue property fizzled before Cass Hill signedx a purchase contractlast year.
Ltd., an affiliate of Cos. in Cliftob Park, closed on the $1.3 million purchase on June 3. Cass Hill intendxs to convert theformer 1.3-acre industrial site at 39-49 Sheridam Ave. into an office/retail/residential project. The properth is located behindthe & Suites on Chapelk Street, near the heart of the city’s entertainment Tony Sabatino of representef the seller. Cass Hill was represented by Eilee Lindbergof /Albany. Marc H. Paquin, president of Cass Hill Developmentt Cos.
, couldn’t be reached for Cass Hill owns severalproperties downtown, including a 30,000-square-foort office building on Monroe Street acrosse from the former printing Boyd Printing filed for Chapter 11 bankruptcy protection in Septembert 2005. A federal bankruptcy judged in March 2008 approved the sale of the buildings to help satisftythe company’s debts. Some of the company’zs assets were purchased by Carl Johnson, an officerd at Boyd Printing, who opened a separates corporation, Inc., in Colonie. Previous deals for the Sheridanh Avenue property fizzled before Cass Hill signedx a purchase contractlast year.
Tuesday, June 7, 2011
More stimulus millions earmarked for Albuquerque - New Mexico Business Weekly:
cahijisebi.wordpress.com
Irene Garcia, chief operating officer with the city of saidthe state’s largest municipalityh now anticipates being allocated about $44 million, up from $30.1 million in March. Some this moneuy comes from sources where the city has applier forthe money, but has not yet receivedc it. But Garcia said officials are confideny they will getthe funds. Much of this is due to new grante from the Department of suchas $933,000 for counselint services and a liaison program for thosee with substance abuse problems. Anothefr $826,000 will go to hiring temporaru staff for the SouthwestBorder Program, which focuses on fightinyg narcotics trafficking.
Another $951,000 is coming to the statre Environment Department to retrofit heavyu equipment to runmore cleanly. And the city got $5 millio n rather than $3.2 million, for energy efficiency programs. Thosew funds will be used to put solard panels on parking garage structureswith plug-in capacity for hybrid The city also plans to purchases more hybrid vehicles.
Irene Garcia, chief operating officer with the city of saidthe state’s largest municipalityh now anticipates being allocated about $44 million, up from $30.1 million in March. Some this moneuy comes from sources where the city has applier forthe money, but has not yet receivedc it. But Garcia said officials are confideny they will getthe funds. Much of this is due to new grante from the Department of suchas $933,000 for counselint services and a liaison program for thosee with substance abuse problems. Anothefr $826,000 will go to hiring temporaru staff for the SouthwestBorder Program, which focuses on fightinyg narcotics trafficking.
Another $951,000 is coming to the statre Environment Department to retrofit heavyu equipment to runmore cleanly. And the city got $5 millio n rather than $3.2 million, for energy efficiency programs. Thosew funds will be used to put solard panels on parking garage structureswith plug-in capacity for hybrid The city also plans to purchases more hybrid vehicles.
Sunday, June 5, 2011
OpenTV rejects Kudelski offer - San Francisco Business Times:
nazariomuibepu1687.blogspot.com
A special committee of San Francisco-based ’s board of directorws rejected an unsolicited proposao by Kudelski SA to acquire all outstanding shares ofthe company’ s Class A ordinary stock not ownecd by Kudelski or its affiliatesa for $1.35 per share. Using language typica in such situations, the committeew called the offer “inadequate and not in the best interests of the company andits stockholders,” saying it reached its conclusion “afteer careful consideration, including a thorough revies of OpenTV’s business and prospects, and other with its independent financial advisor, OpenTV sells television set-topo box software.
OpenTV reported a net profit in 2008 for the firsft time since its start in1994 $9.6 million on revenue of nearlyg $117 million. Last the company reported that for the quarter endedd March 31 revenueswere $29.4 million, compared with $33.8 millioj for the first quarter of 2008. Net incomr for the first quarterwas $1.2 compared with $6.3 million for the firstg quarter of 2008.
A special committee of San Francisco-based ’s board of directorws rejected an unsolicited proposao by Kudelski SA to acquire all outstanding shares ofthe company’ s Class A ordinary stock not ownecd by Kudelski or its affiliatesa for $1.35 per share. Using language typica in such situations, the committeew called the offer “inadequate and not in the best interests of the company andits stockholders,” saying it reached its conclusion “afteer careful consideration, including a thorough revies of OpenTV’s business and prospects, and other with its independent financial advisor, OpenTV sells television set-topo box software.
OpenTV reported a net profit in 2008 for the firsft time since its start in1994 $9.6 million on revenue of nearlyg $117 million. Last the company reported that for the quarter endedd March 31 revenueswere $29.4 million, compared with $33.8 millioj for the first quarter of 2008. Net incomr for the first quarterwas $1.2 compared with $6.3 million for the firstg quarter of 2008.
Friday, June 3, 2011
GM files for bankruptcy, plans to transfer operations to Wentzville - Boston Business Journal:
tasypaju.wordpress.com
Some operations and equipment from a steel stamping plant inGranf Rapids, Mich., which is slated to close as part of the automaker'ws restructuring, will be transferred to Wentzville, accordingf to Bob Wheeler, a spokesman for the Wentzvilld plant. It's not yet known how many, if any, Michigan employees will opt to transfer to he said. GM officials called Wentzville Mayor Paul Lamb i at9 a.m. Monday to assure him the local plant wouldremain "It's good that they are shipping in work for this Lambi said. "That's a positive that corporate thinks this plan willbe around.
" Still, Lambui said, rival automaker Chrysler plans to shutter its Fentoh factors after investing $130 million in them, so it was importantt for Wentzville to not rely on GM so much and diversifu its revenue stream. When Lambi took offices seven years ago, Wentzville counted on GM for abou t 55 to 60 percent of itstotalp revenue. Today, that's more like 15 percent of the city's $24 million general fund, because GM pays the city about $3 million a year in real estatee taxes, property taxes and other fees, he GM on Monday by the end of but the Wentzville plant was sparerbecause it’s the only plantt where Chevrolet Express and GMC Savana vans are The Wentzville plant will still undergo a previously announced and other production cuts in June and July that will resulf in the layoffs of 300 workers.
Monday’x Chapter 11 filing by the 101-year-old automake r is among the largestin U.S. historyt and largest-ever U.S. manufacturing bankruptcy. GM listed $173 billion in liabilities and $82 billion in assets, according to the filed in New GMto St. Louis’ largest privately held Enterprise Rent-a-Car, and to Chapter 11, whichy allows the company to operate while protected from its pushes GM intoa fast-track bankruptcy and providees $30 billion of additional taxpayer funds to The GM plan as detailed by U.S.
officiale would allow a much smallerf GM to emerge from court protectionm within 60 to 90 The automaker has not provided an updated target for job cuts but was lookintg toeliminate 21,000 U.S. factory jobs from the 54,000o union members it now General Motorsemploys 92,000 in the Unitecd States and is indirectly responsible for 500,000 The U.S. government would hold a 60 percenty financial interest in areorganized GM, and the UAW would take a 17.5 percent stake. The governments of Canad a and the province of Ontario have agreed to a 12 percenr ownership stake in exchange forfinancial aid. GM bondholders would get 10 percent. "It’s a bittersweet Wheeler said.
"You hate to have to go through the process of closingt plants andeliminating jobs, but look around, that’ds what's going on with a lot of Hopefully we can rebound, hire people in the futurer and be the vibrant company we once were." Downloaf a copy of the
Some operations and equipment from a steel stamping plant inGranf Rapids, Mich., which is slated to close as part of the automaker'ws restructuring, will be transferred to Wentzville, accordingf to Bob Wheeler, a spokesman for the Wentzvilld plant. It's not yet known how many, if any, Michigan employees will opt to transfer to he said. GM officials called Wentzville Mayor Paul Lamb i at9 a.m. Monday to assure him the local plant wouldremain "It's good that they are shipping in work for this Lambi said. "That's a positive that corporate thinks this plan willbe around.
" Still, Lambui said, rival automaker Chrysler plans to shutter its Fentoh factors after investing $130 million in them, so it was importantt for Wentzville to not rely on GM so much and diversifu its revenue stream. When Lambi took offices seven years ago, Wentzville counted on GM for abou t 55 to 60 percent of itstotalp revenue. Today, that's more like 15 percent of the city's $24 million general fund, because GM pays the city about $3 million a year in real estatee taxes, property taxes and other fees, he GM on Monday by the end of but the Wentzville plant was sparerbecause it’s the only plantt where Chevrolet Express and GMC Savana vans are The Wentzville plant will still undergo a previously announced and other production cuts in June and July that will resulf in the layoffs of 300 workers.
Monday’x Chapter 11 filing by the 101-year-old automake r is among the largestin U.S. historyt and largest-ever U.S. manufacturing bankruptcy. GM listed $173 billion in liabilities and $82 billion in assets, according to the filed in New GMto St. Louis’ largest privately held Enterprise Rent-a-Car, and to Chapter 11, whichy allows the company to operate while protected from its pushes GM intoa fast-track bankruptcy and providees $30 billion of additional taxpayer funds to The GM plan as detailed by U.S.
officiale would allow a much smallerf GM to emerge from court protectionm within 60 to 90 The automaker has not provided an updated target for job cuts but was lookintg toeliminate 21,000 U.S. factory jobs from the 54,000o union members it now General Motorsemploys 92,000 in the Unitecd States and is indirectly responsible for 500,000 The U.S. government would hold a 60 percenty financial interest in areorganized GM, and the UAW would take a 17.5 percent stake. The governments of Canad a and the province of Ontario have agreed to a 12 percenr ownership stake in exchange forfinancial aid. GM bondholders would get 10 percent. "It’s a bittersweet Wheeler said.
"You hate to have to go through the process of closingt plants andeliminating jobs, but look around, that’ds what's going on with a lot of Hopefully we can rebound, hire people in the futurer and be the vibrant company we once were." Downloaf a copy of the
Wednesday, June 1, 2011
Crist signs bill to battle securities fraud - South Florida Business Journal:
mytyhona.wordpress.com
During a ceremonial bill signing Monday atthe Miami-Dadew County Courthouse, Crist, with Attorney Generalk Bill McCollum and some of the bill’a sponsors at his side, signeed the Investor Protection Act (HB 483). It givee McCollum’s office, with approval from the , the authority to investigatre andprosecute large-scale securities scam s under the state’s securities law. white-collar criminal prosecutions fell under theracketeerinhg statute, which is harder to prove. Prosecutions also were limitec to the office ofthe state’s McCollum pointed out.
Crist noted that this kind of authorityu was lacking during his tenures as attorney general and that this law woulput “teeth” into the state’e prosecutorial powers. The law enhances the Officwe ofFinancial Regulation’s enforcement powerz by increasing penalties for violators and strengthening the licensd registration requirements for securitiezs dealers. Penalties double from $5,000 to $10,009 as a result of the law, which goes into effectr Wednesday. State authorities will also be able to pursuee civil lawsuits to recover lost McCollum said. McCollum worked with Rep. Tom Grady, R-Naplesa and Sen. Garrett R-Naples on the legislation. Both attendeds the signing. Sen.
Dan D-Miami Beach, a bill sponsor, also attended Monday’s Grady is a securitiesw attorney and expert in securities regulatiojn who drafted the bill and sponsored it inthe “Now the attorney general will have the tools to do the said Grady, prior to the signing. “Ou r economy will grow stronger if investors have confidence in ourfinanciaol markets,” he said in a “By increasing the tools available to the state to prosecutw violators of our securities laws, we protect investora and foster needed trust in the system.
During a ceremonial bill signing Monday atthe Miami-Dadew County Courthouse, Crist, with Attorney Generalk Bill McCollum and some of the bill’a sponsors at his side, signeed the Investor Protection Act (HB 483). It givee McCollum’s office, with approval from the , the authority to investigatre andprosecute large-scale securities scam s under the state’s securities law. white-collar criminal prosecutions fell under theracketeerinhg statute, which is harder to prove. Prosecutions also were limitec to the office ofthe state’s McCollum pointed out.
Crist noted that this kind of authorityu was lacking during his tenures as attorney general and that this law woulput “teeth” into the state’e prosecutorial powers. The law enhances the Officwe ofFinancial Regulation’s enforcement powerz by increasing penalties for violators and strengthening the licensd registration requirements for securitiezs dealers. Penalties double from $5,000 to $10,009 as a result of the law, which goes into effectr Wednesday. State authorities will also be able to pursuee civil lawsuits to recover lost McCollum said. McCollum worked with Rep. Tom Grady, R-Naplesa and Sen. Garrett R-Naples on the legislation. Both attendeds the signing. Sen.
Dan D-Miami Beach, a bill sponsor, also attended Monday’s Grady is a securitiesw attorney and expert in securities regulatiojn who drafted the bill and sponsored it inthe “Now the attorney general will have the tools to do the said Grady, prior to the signing. “Ou r economy will grow stronger if investors have confidence in ourfinanciaol markets,” he said in a “By increasing the tools available to the state to prosecutw violators of our securities laws, we protect investora and foster needed trust in the system.
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