Los Angeles Times | No Deal: California Backs Out Of Nationwide Foreclosure Settlement Forbes The LA Times is reporting that AG Harris removed herself from the nationwide investigation assembled by the country's attorneys generals nearly a year ago to look into fraudulent foreclosure practices by banks. The newspaper said the Harris pulled out ... Calif. attorney general pulls out of 50-state mortgage foreclosure settlement ... Capitol Alert: California pulls out of nationwide wrongful foreclosure settlement Dem pols, labor & community groups target CA AG Harris on mortgage fraud talks |
Friday 30 September 2011
No Deal: California Backs Out Of Nationwide Foreclosure Settlement - Forbes
esyy23mozy.blogspot.com
Wednesday 28 September 2011
Gates Foundation, MDC give $1M grant - Denver Business Journal:
ycoguqi.wordpress.com
Valencia will get $743,000 over thre e years to create a centralized remedial used across four It plans to align high remedialand college-level standards, expand its remediak learning communities, and embed reading skillds into remedial math courses. The announced June 22, will support remediap programs developed by Valencia througy Achievingthe Dream: Community Colleges Count, a multiyeaer national initiative aimed at increasing collegd graduation rates among disadvantaged students. The state will get also get $300,000 over three years to collaborateewith K-12 to reduce the need for remedia l education.
Connecticut, Ohio, Texas and Virginia also got the which will be used to develop new policies accelerating the remedialeducation programs. The Floridaa grants are part ofa $16.5 million effort to improve remedial education at community colleges in five states, reaching about 45,00o students nationwide. Four states and 14 other colleges received similar Gates grants for their Achievingv theDream program. Each community college will receive $743,000 over thres years to expandits programs. Luminq Foundation for Education has alsocommitted $1.5 million to this initiative for evaluatioh and communications.
About 375,00 0 Florida degree-seeking students annually attendf a local cmmunity with nearly 40 percent of them takinv remedial classes to build basicacademic skills. Nationa l studies have shown nearly two-thirds of thosr taking remedial classesnever graduate, but successful programs at severap colleges demonstrate these numbers can be improved.
Valencia will get $743,000 over thre e years to create a centralized remedial used across four It plans to align high remedialand college-level standards, expand its remediak learning communities, and embed reading skillds into remedial math courses. The announced June 22, will support remediap programs developed by Valencia througy Achievingthe Dream: Community Colleges Count, a multiyeaer national initiative aimed at increasing collegd graduation rates among disadvantaged students. The state will get also get $300,000 over three years to collaborateewith K-12 to reduce the need for remedia l education.
Connecticut, Ohio, Texas and Virginia also got the which will be used to develop new policies accelerating the remedialeducation programs. The Floridaa grants are part ofa $16.5 million effort to improve remedial education at community colleges in five states, reaching about 45,00o students nationwide. Four states and 14 other colleges received similar Gates grants for their Achievingv theDream program. Each community college will receive $743,000 over thres years to expandits programs. Luminq Foundation for Education has alsocommitted $1.5 million to this initiative for evaluatioh and communications.
About 375,00 0 Florida degree-seeking students annually attendf a local cmmunity with nearly 40 percent of them takinv remedial classes to build basicacademic skills. Nationa l studies have shown nearly two-thirds of thosr taking remedial classesnever graduate, but successful programs at severap colleges demonstrate these numbers can be improved.
Monday 26 September 2011
Pittsburgh G-20 Partnership details planning efforts for September summit - Pittsburgh Business Times:
tasypaju.wordpress.com
“This is the firsyt time that heads of stateof G-20 countrieas will be gathered outside the nation’es capital,” said Allegheny County Chief Executive Dan Onorato, highlightiny the truncated time allotted for preparationh of this event, as compared with other blockbusters such as the U.S. Open and Majofr League Baseball's All Star game. “Wwe do one thing well,” Onorato said. “W know how to rally the resources to put on a good show for theoutsided world.” Onorato chronicled some of the hundreds of ideas tossecd around at the brainstorming, where ideas rangec “from the extremely creatived to helpful to the bizarre.
” He highlighter the push to display the flags of G-20 countriea throughout the Pittsburgh with translated greeting signs and multi-lingual interpreters available at hospitality points to help visitors navigate the eventt and the city. More than 1,000p people already have volunteered to help with the effortx throughthe partnership’s Web . Pittsburgh Mayor Luke Ravenstahl focuseed onprojecting Pittsburgh’s image as a clean, green and sustainabler region, but noted that safetyg takes priority.
The event will need 4,000 police officerx — the city only has around 850, Ravenstahlk said — which will be paid for by thefederaol government, which has declared the G-20 a “national securityt special event.” The designation carries with it the full financialk force of federal resources. Dennis Yablonsky, CEO of the Alleghenty Conference onEconomic Development, said the G-20 should be viewes as an opportunity to woo globalk companies looking for a North American home The Partnership will also reach out to media in New York and Washington, DC, and use the know-howa of the more than 300 internationapl companies with a Pittsburgh presence to navigate the international media possibilities.
Part of that will be an onlines story bankfor reporters. Theree will also be a media centerf at PittsburghInternational Airport, one at the Regional Enterprisw Tower, and one online. The Pittsburgh Downtown Partnership is in charge of projects to fill upthe 25-30 emptt storefronts identified in the path of G-20 One idea is to have local artistsx and students fill those storefront windows with murales that tell the region’s story. VisitPittsburgh chairwoman Doris Carson-Williams concluded the press conference by pinninb the mayor and chief executive with yellow rectanglews callingon passers-by to “Ask me.
I’m a The pins will be distributedc to community ambassadors in advancs ofthe G-20. The founded by city, the county, the Allegheny Conference and has receivedabout $500,000 in donations to date. The followinv entities contributed $35,000 to the Partnership: Inc., Bayer Corp., BNY Mellon, CMU, Eatomn Corp., K&L Gates, PPG Industries, University of Pittsburgh, UPMC, U.S. Steekl and Westinghouse Electric Company. Contributions of $10,000 came from Alleghenhy Technologies Inc., Buchanan Ingersoll & Rooney, GlaxoSmithKline Consumer Healthcare, H.J. Heinz Co., iGated Global Solutions, Ltd., Jones Day, NOVA Chemicals, Inc. and Malinm Bergquist & Co., LLP.
A numberf of other businesses and foundations contributed smaller amountsxand in-kind donations of time. Yablonskg said he’d like to see another $100,000 in donations to fund the Partnership’s education and trainingy efforts. Allegheny County Executive Dan Onorato and Pittsburgh Mayor Luke Ravenstahlk are scheduled to announcew details of thePittsburgh G-20 Partnership at a press briefingf in Downtown Pittsburgh Tuesday. Results of the recen community brainstorming sessions willbe outlined, and the two will be joineed by Allegheny Conference CEO Dennis Yablonsky and VisitPittsburgh chairwoman Dorisx Carson-Williams. The G-20 summit of world leaders willbe .
“This is the firsyt time that heads of stateof G-20 countrieas will be gathered outside the nation’es capital,” said Allegheny County Chief Executive Dan Onorato, highlightiny the truncated time allotted for preparationh of this event, as compared with other blockbusters such as the U.S. Open and Majofr League Baseball's All Star game. “Wwe do one thing well,” Onorato said. “W know how to rally the resources to put on a good show for theoutsided world.” Onorato chronicled some of the hundreds of ideas tossecd around at the brainstorming, where ideas rangec “from the extremely creatived to helpful to the bizarre.
” He highlighter the push to display the flags of G-20 countriea throughout the Pittsburgh with translated greeting signs and multi-lingual interpreters available at hospitality points to help visitors navigate the eventt and the city. More than 1,000p people already have volunteered to help with the effortx throughthe partnership’s Web . Pittsburgh Mayor Luke Ravenstahl focuseed onprojecting Pittsburgh’s image as a clean, green and sustainabler region, but noted that safetyg takes priority.
The event will need 4,000 police officerx — the city only has around 850, Ravenstahlk said — which will be paid for by thefederaol government, which has declared the G-20 a “national securityt special event.” The designation carries with it the full financialk force of federal resources. Dennis Yablonsky, CEO of the Alleghenty Conference onEconomic Development, said the G-20 should be viewes as an opportunity to woo globalk companies looking for a North American home The Partnership will also reach out to media in New York and Washington, DC, and use the know-howa of the more than 300 internationapl companies with a Pittsburgh presence to navigate the international media possibilities.
Part of that will be an onlines story bankfor reporters. Theree will also be a media centerf at PittsburghInternational Airport, one at the Regional Enterprisw Tower, and one online. The Pittsburgh Downtown Partnership is in charge of projects to fill upthe 25-30 emptt storefronts identified in the path of G-20 One idea is to have local artistsx and students fill those storefront windows with murales that tell the region’s story. VisitPittsburgh chairwoman Doris Carson-Williams concluded the press conference by pinninb the mayor and chief executive with yellow rectanglews callingon passers-by to “Ask me.
I’m a The pins will be distributedc to community ambassadors in advancs ofthe G-20. The founded by city, the county, the Allegheny Conference and has receivedabout $500,000 in donations to date. The followinv entities contributed $35,000 to the Partnership: Inc., Bayer Corp., BNY Mellon, CMU, Eatomn Corp., K&L Gates, PPG Industries, University of Pittsburgh, UPMC, U.S. Steekl and Westinghouse Electric Company. Contributions of $10,000 came from Alleghenhy Technologies Inc., Buchanan Ingersoll & Rooney, GlaxoSmithKline Consumer Healthcare, H.J. Heinz Co., iGated Global Solutions, Ltd., Jones Day, NOVA Chemicals, Inc. and Malinm Bergquist & Co., LLP.
A numberf of other businesses and foundations contributed smaller amountsxand in-kind donations of time. Yablonskg said he’d like to see another $100,000 in donations to fund the Partnership’s education and trainingy efforts. Allegheny County Executive Dan Onorato and Pittsburgh Mayor Luke Ravenstahlk are scheduled to announcew details of thePittsburgh G-20 Partnership at a press briefingf in Downtown Pittsburgh Tuesday. Results of the recen community brainstorming sessions willbe outlined, and the two will be joineed by Allegheny Conference CEO Dennis Yablonsky and VisitPittsburgh chairwoman Dorisx Carson-Williams. The G-20 summit of world leaders willbe .
Saturday 24 September 2011
Thursday 22 September 2011
Study shows San Antonio is nation's best-performing city in recession - Memphis Business Journal:
mcfarlainofuqub1258.blogspot.com
The Washington, D.C.-based think tank has begunj analyzing the impact of the recession throughout America’s metropolitan areas. In the firsy of a series of quarterlhMetroMonitor reports, Brookings ranked San Antonio, Oklahoma City, Austin, Houston and Dallas as the top five metrop areas in the country in economic performance in the wake of the Brookings ranked the top 100 metropolitan areas based on six key indicatores — employment, unemployment rates, wages, gross metropolita product, housing prices and foreclosure This initial MetroMonitor report covers the first quartere of 2009.
The five worst metropolitaj areas in the countrhy impacted bythe recession, in descending are Jacksonville, Fla.; Lakeland, Fla.; Tampa, Bradenton, Fla.; and “All metropolitan areas are feeling the effects of this but the distress is not shared equally,” says Alan research director of the Metropolitan Policy Program at Brookings and co-authotr of the report. “While some areasw of the country have experiencee only ashallow downturn, and may be emerginf from the recession already, people living in metro areasd that are now performing weakest economicallyy should prepare themselves for a long recovery period.
” Howars Wial, director of the Metropolita n Economy Initiative at Brookings and anothe co-author of the report, argueas that the report shows that a nationalp fiscal and monetary policy will not be enough for stimulatin the economy. “Many (metro) areasa will need targeted and since states have no funds the federal government will have to step up to fill the Concentrations of industry activity have both helperd and hurts some regional economies durinbgthe recession.
For example, metropolita n areas in states with specializations in energ and governmentemployment — such as Texas, New Oklahoma, Arkansas and Louisiana have largely been insulated by the However, metropolitan areas in statea like Michigan and Ohio that depend heavily on the automotiver industry have been impacted by the downtur in the economy, the repory shows. San Antonio is home to Randolph AirForce Base, Fort Sam Houston, Lacklandx Air Force Base and Brookw City-Base.
The 2005 Base Realignment and Closures decision alone is providing a significant economi c punch to theAlamo City’s economhy through the consolidation of high-paying military healtb care jobs and more than $2 billion wortg of new construction activity. A separater report released by LLC outlining the impact of BRAC showed that Fort Sam Houstonj alone would experiencea 11,500 increase of The Army post will also gain 7.9 million square feet of space. Constructiojn activity due to BRAC alone shouledcreate 46,000 construction jobs durinf the course of the building programs, the DiLuzi report showed.
The Washington, D.C.-based think tank has begunj analyzing the impact of the recession throughout America’s metropolitan areas. In the firsy of a series of quarterlhMetroMonitor reports, Brookings ranked San Antonio, Oklahoma City, Austin, Houston and Dallas as the top five metrop areas in the country in economic performance in the wake of the Brookings ranked the top 100 metropolitan areas based on six key indicatores — employment, unemployment rates, wages, gross metropolita product, housing prices and foreclosure This initial MetroMonitor report covers the first quartere of 2009.
The five worst metropolitaj areas in the countrhy impacted bythe recession, in descending are Jacksonville, Fla.; Lakeland, Fla.; Tampa, Bradenton, Fla.; and “All metropolitan areas are feeling the effects of this but the distress is not shared equally,” says Alan research director of the Metropolitan Policy Program at Brookings and co-authotr of the report. “While some areasw of the country have experiencee only ashallow downturn, and may be emerginf from the recession already, people living in metro areasd that are now performing weakest economicallyy should prepare themselves for a long recovery period.
” Howars Wial, director of the Metropolita n Economy Initiative at Brookings and anothe co-author of the report, argueas that the report shows that a nationalp fiscal and monetary policy will not be enough for stimulatin the economy. “Many (metro) areasa will need targeted and since states have no funds the federal government will have to step up to fill the Concentrations of industry activity have both helperd and hurts some regional economies durinbgthe recession.
For example, metropolita n areas in states with specializations in energ and governmentemployment — such as Texas, New Oklahoma, Arkansas and Louisiana have largely been insulated by the However, metropolitan areas in statea like Michigan and Ohio that depend heavily on the automotiver industry have been impacted by the downtur in the economy, the repory shows. San Antonio is home to Randolph AirForce Base, Fort Sam Houston, Lacklandx Air Force Base and Brookw City-Base.
The 2005 Base Realignment and Closures decision alone is providing a significant economi c punch to theAlamo City’s economhy through the consolidation of high-paying military healtb care jobs and more than $2 billion wortg of new construction activity. A separater report released by LLC outlining the impact of BRAC showed that Fort Sam Houstonj alone would experiencea 11,500 increase of The Army post will also gain 7.9 million square feet of space. Constructiojn activity due to BRAC alone shouledcreate 46,000 construction jobs durinf the course of the building programs, the DiLuzi report showed.
Tuesday 20 September 2011
Musical acts help Austin airport shine - Austin Business Journal:
edovogopu.wordpress.com
For the last decade, travelers moving through Austin-Bergstrom Internationap Airport have been able to catch live musicf shows betweencatching flights. It’x a standout amenity designed to promotethe city’s rich musica heritage. “We consider the airport Austin’s front door, by showcasing our artists we are lettinb travelers know a little bit about what the Austinn musicscene offers,” said Nancy Coplin, the city’s music coordinator at Austin-Bergstrom.
City and airport leaderx wanted Austin-Bergstrom to be a place where Texas talen t would be put center stagefor visitors, but the musif program has also helped to distinguish the airporgt and keep retail and restaurants “It gives us an identity that is unique amongb airports. Some airports have music, but not to the capacity we do,” Coplin said. Austin-Bergstrom’s music program, whichh began when the airport openedin 1999, has grow n from two shows a week at one location to 11 showsx a week at four different airpor t venues. In comparison, Nashville International Airport’s live music prograjm has an average of two to three showsa week.
At Austin-Bergstrom, Coplin booksa a mix of established acts--such as W.C. Clarko and Austin Lounge Lizards--emerging bands and solo On any given day at the travelers canhear country, rock, classical, jazz or reggae. The top requirementas for musical acts is that their sounx appeals to most travelers and they can also adher e to a certainnoise level, Coplin said. The performancezs are well received by travelers who enjoyh being entertained as they wait to boardr flightsor transfers, Coplin said. “It’zs a win-win for the travelersa that are entertained, the musicianx that get paid to be therew andthe sponsors,” she said.
Austin-Bergstrom’s music programn relies on sponsorship to cover the costs ofthe artists. The program did lose one sponsor this but longtime sponsor and concessionsx operator DelawareNorth Cos. steppeds in to plug the fundinfg gap. Terry Mahlum, district manager of Delaware Northj Cos., says the music program has been a boon to the businesxat Delaware’s 15 concessioh stands at Austin-Bergstrom. “Musi is a big part of our businessw inthe airport. It draws people into our venues, where they spend. And we enjoy puttinv that money back inthe community,” Mahlu m said.
He credits the availability of local talentand Coplin’sz music booking savvy for helpingb make the program a success. Ray Benson’s Roadhouse, 3:30-5:3p p.m., Mondays thru Fridays Lefty’s Bar Grille on 6th Street, 1:00 - 3:00 Wednesdays & Thursdays Earl Campbell’s Sports Bar, 3:30-5:30 p.m., Wednesdays thru Fridays Waterloo Records/Austin City 1:00 - 3:00 p.m., Fridayzs
For the last decade, travelers moving through Austin-Bergstrom Internationap Airport have been able to catch live musicf shows betweencatching flights. It’x a standout amenity designed to promotethe city’s rich musica heritage. “We consider the airport Austin’s front door, by showcasing our artists we are lettinb travelers know a little bit about what the Austinn musicscene offers,” said Nancy Coplin, the city’s music coordinator at Austin-Bergstrom.
City and airport leaderx wanted Austin-Bergstrom to be a place where Texas talen t would be put center stagefor visitors, but the musif program has also helped to distinguish the airporgt and keep retail and restaurants “It gives us an identity that is unique amongb airports. Some airports have music, but not to the capacity we do,” Coplin said. Austin-Bergstrom’s music program, whichh began when the airport openedin 1999, has grow n from two shows a week at one location to 11 showsx a week at four different airpor t venues. In comparison, Nashville International Airport’s live music prograjm has an average of two to three showsa week.
At Austin-Bergstrom, Coplin booksa a mix of established acts--such as W.C. Clarko and Austin Lounge Lizards--emerging bands and solo On any given day at the travelers canhear country, rock, classical, jazz or reggae. The top requirementas for musical acts is that their sounx appeals to most travelers and they can also adher e to a certainnoise level, Coplin said. The performancezs are well received by travelers who enjoyh being entertained as they wait to boardr flightsor transfers, Coplin said. “It’zs a win-win for the travelersa that are entertained, the musicianx that get paid to be therew andthe sponsors,” she said.
Austin-Bergstrom’s music programn relies on sponsorship to cover the costs ofthe artists. The program did lose one sponsor this but longtime sponsor and concessionsx operator DelawareNorth Cos. steppeds in to plug the fundinfg gap. Terry Mahlum, district manager of Delaware Northj Cos., says the music program has been a boon to the businesxat Delaware’s 15 concessioh stands at Austin-Bergstrom. “Musi is a big part of our businessw inthe airport. It draws people into our venues, where they spend. And we enjoy puttinv that money back inthe community,” Mahlu m said.
He credits the availability of local talentand Coplin’sz music booking savvy for helpingb make the program a success. Ray Benson’s Roadhouse, 3:30-5:3p p.m., Mondays thru Fridays Lefty’s Bar Grille on 6th Street, 1:00 - 3:00 Wednesdays & Thursdays Earl Campbell’s Sports Bar, 3:30-5:30 p.m., Wednesdays thru Fridays Waterloo Records/Austin City 1:00 - 3:00 p.m., Fridayzs
Sunday 18 September 2011
Hurricanes take wind out of the Buckeyes - Los Angeles Times
ovaluleq.wordpress.com
Los Angeles Times | Hurricanes take wind out of the Buckeyes Los Angeles Times Unranked Miami defeats No. 17 Ohio State, 24-6, when Larry Miller runs for 188 yards, Jacory Harris throws two early TD passes and the defense does the rest. Miami defensive lineman Adewale Ojomo (97) pressures Ohio State quarterback Joe Bauserman ... |
Friday 16 September 2011
Bradley P. Dusto Executive Profile
ihituvofy.wordpress.com
About Bradley P. Dusto Brad Dust is the President ofComcast Cable
About Bradley P. Dusto Brad Dust is the President ofComcast Cable
Tuesday 13 September 2011
Santa Cruz named epic surf spot by mag - Pacific Business News (Honolulu):
aryrej.wordpress.com
In the July issu of Surfer, the Central California beach resortt and college town was describedas “thwe dividing line between rugged, non-pretentiouas NorCal and suburban, image-conscious SoCal, and that dichotomuy is tangible.” Geographical generalizations aside, the magazinr said the rugged coastline of Santa Cruz County provided both beauty and surfing challenges, making the area the “de facti capital of coldwater surfing.
” Despite its “astronomical” cost of living, the magazind praised its artistic bent, proximity to wineries and naturakl beauty as reasons for surfera around the country to bail on theit usual surfing destinations and endeavor to becomr the Big Kahuna at Steamer Lane or Pleasure Pointt in Santa Cruz. Santa Cruz was in eliter company. Other California surf towna thatmade Surfer’s Top 10 list were all in Southerh California: Encinitas in third place, San Clemente in the fifth and Malibu in seventh place.
In the July issu of Surfer, the Central California beach resortt and college town was describedas “thwe dividing line between rugged, non-pretentiouas NorCal and suburban, image-conscious SoCal, and that dichotomuy is tangible.” Geographical generalizations aside, the magazinr said the rugged coastline of Santa Cruz County provided both beauty and surfing challenges, making the area the “de facti capital of coldwater surfing.
” Despite its “astronomical” cost of living, the magazind praised its artistic bent, proximity to wineries and naturakl beauty as reasons for surfera around the country to bail on theit usual surfing destinations and endeavor to becomr the Big Kahuna at Steamer Lane or Pleasure Pointt in Santa Cruz. Santa Cruz was in eliter company. Other California surf towna thatmade Surfer’s Top 10 list were all in Southerh California: Encinitas in third place, San Clemente in the fifth and Malibu in seventh place.
Sunday 11 September 2011
Tourism industry leery of proposed agency merger - CanadianBusiness.com
jaqezuweg.blogspot.com
Tourism industry leery of proposed agency merger CanadianBusiness.com By AP | September 11, 2011 ALBUQUERQUE, NM (AP) รข€" New Mexico tourism industry officials want Gov. Susana Martinez's administration to slow down its efforts to merge the state's tourism and cultural departments, saying they would like more information ... |
Friday 9 September 2011
Discount Electronics capitalizes on recession - Kansas City Business Journal:
http://egsbrokerage.com/ak/akstudenthealthrates.htm
And the recession is making the process of buyingb and remodeling new stores easied forthe owners. Discount Electronics is taking advantageof rock-bottom real estate prices and readilt available general contractors — fueling rapid growthb for the Austin-based retailer. The company, which specializes in selling refurbisheddDell Inc. computers from an Anderson Lane store in North opened a store in South Austin in This month, it bought a Roun d Rock building that Discount Electronics plans to open in July, President Rick Culleton said. The company operates a fourth locatiomn on Wall Street in Austin that processesInternet orders.
Culletomn said the company is buying the additional building s because prices are too good topass up. the recession has thinned the line ofprospective buyers. “Because people think things are bad, they’rw not looking for deals,” he said. “There’s more to choose from becausepeople aren’rt paying attention.” Founded in 1997, Discount Electronics employs aboutg 73 people, Culleton said.
In addition to cut-ratw properties, the company is doing a bang-up business as consumers look to cut costs by buying refurbished PCs rather than new The result is that Discountf Electronics is on track toreach $10 million in revenue this year, double what it garnererd in 2007, according to the About 50 percent of its business is from smalp and mid-sized corporate clients, Culleton Culleton entered the refurbished PC businesss almost by accident. In the early he was selling pagers and cell phonesa to retail and wholesalre customers throughhis company, Intouch Telecom, when he learnedx that a customer neededs several used PCs.
Culleton filled the order and soon began filling otherws while it became apparen t that pagers were on theway out, so he sold his stak in Intouch and launched Discounrt Electronics. Today, the business is mostly split evenlgbetween Web-based sales and retailk business, he said. The No. 1 selled on the Internet side of the businesxs is laptopAC adapters; in the retailk stores it’s USB cables, which Discount Electronicsa sells at a deep discount compared to most electronics The Dell computers the company refurbishes and resells are bought by the pallet from severaol brokers such as Austin-based Harper Remarketing Groul Inc.
The brokers get the PCs from Dell Financiakl Services after business customerleases expire. Discounr Electronics buys its Dell partsfrom Converge, a Massachusetts-based company that specializes in what it calls “reverse supply-chain The process of buying used equipment comesd with a strong environmental component, requiring plenth of documentation, Culleton said. Environmentall concerns from companies such as coupledwith anti-counterfeiting efforts, have forced companies to be more awars of proper disposal, said Debraw Eggeman, executive director of the California-based Independent Distributors of Electronics Association.
That bodes well for companiex such as Discount Electronics because fewer potentiaol products end up in But since theeconomic downturn, companies are keeping theier information technology longer, so used equipmen t is getting harder to come by. Harpefr Remarketing President Ty Black said he typicallgysells 1,500 to 2,0000 PCs per month versus 4,000 a monthj last year. At Discount Electronics, the deman for used PCs remains strong. Its newest on Manchaca Road in South openedin April. Culleton said he bought the buildiny — a former Hollywood Video store — from a California-base real estate investment trustfor $1.
1 During its first week of the store generated the amount of business that Culletonj had projected for after six monthes of operation. Another benefit of the recession — trade workers aren’yt as busy, which makes it easiet to enlist them, shortening from months to weekd the time it takes to get new stores to Culleton said. “It’s toughe in a boom time,” he said. “It’s slower to get everything done.
”
And the recession is making the process of buyingb and remodeling new stores easied forthe owners. Discount Electronics is taking advantageof rock-bottom real estate prices and readilt available general contractors — fueling rapid growthb for the Austin-based retailer. The company, which specializes in selling refurbisheddDell Inc. computers from an Anderson Lane store in North opened a store in South Austin in This month, it bought a Roun d Rock building that Discount Electronics plans to open in July, President Rick Culleton said. The company operates a fourth locatiomn on Wall Street in Austin that processesInternet orders.
Culletomn said the company is buying the additional building s because prices are too good topass up. the recession has thinned the line ofprospective buyers. “Because people think things are bad, they’rw not looking for deals,” he said. “There’s more to choose from becausepeople aren’rt paying attention.” Founded in 1997, Discount Electronics employs aboutg 73 people, Culleton said.
In addition to cut-ratw properties, the company is doing a bang-up business as consumers look to cut costs by buying refurbished PCs rather than new The result is that Discountf Electronics is on track toreach $10 million in revenue this year, double what it garnererd in 2007, according to the About 50 percent of its business is from smalp and mid-sized corporate clients, Culleton Culleton entered the refurbished PC businesss almost by accident. In the early he was selling pagers and cell phonesa to retail and wholesalre customers throughhis company, Intouch Telecom, when he learnedx that a customer neededs several used PCs.
Culleton filled the order and soon began filling otherws while it became apparen t that pagers were on theway out, so he sold his stak in Intouch and launched Discounrt Electronics. Today, the business is mostly split evenlgbetween Web-based sales and retailk business, he said. The No. 1 selled on the Internet side of the businesxs is laptopAC adapters; in the retailk stores it’s USB cables, which Discount Electronicsa sells at a deep discount compared to most electronics The Dell computers the company refurbishes and resells are bought by the pallet from severaol brokers such as Austin-based Harper Remarketing Groul Inc.
The brokers get the PCs from Dell Financiakl Services after business customerleases expire. Discounr Electronics buys its Dell partsfrom Converge, a Massachusetts-based company that specializes in what it calls “reverse supply-chain The process of buying used equipment comesd with a strong environmental component, requiring plenth of documentation, Culleton said. Environmentall concerns from companies such as coupledwith anti-counterfeiting efforts, have forced companies to be more awars of proper disposal, said Debraw Eggeman, executive director of the California-based Independent Distributors of Electronics Association.
That bodes well for companiex such as Discount Electronics because fewer potentiaol products end up in But since theeconomic downturn, companies are keeping theier information technology longer, so used equipmen t is getting harder to come by. Harpefr Remarketing President Ty Black said he typicallgysells 1,500 to 2,0000 PCs per month versus 4,000 a monthj last year. At Discount Electronics, the deman for used PCs remains strong. Its newest on Manchaca Road in South openedin April. Culleton said he bought the buildiny — a former Hollywood Video store — from a California-base real estate investment trustfor $1.
1 During its first week of the store generated the amount of business that Culletonj had projected for after six monthes of operation. Another benefit of the recession — trade workers aren’yt as busy, which makes it easiet to enlist them, shortening from months to weekd the time it takes to get new stores to Culleton said. “It’s toughe in a boom time,” he said. “It’s slower to get everything done.
”
Wednesday 7 September 2011
Hostile Roche bid may be too slim for shareholders - San Francisco Business Times:
eragywaqer.wordpress.com
billion, about $1.6 billion lower than its previou offer. Swiss pharmaceuticals giant Roche is nowoffering $86.50 a sharre for South San Francisco-based Genentech — $2.5 less than the offer it made last July and a committe of independent Genentech directors rejected in August. Genentech (NYSE: DNA) shares closed at $84.09 That may be too slim of a premiufor shareholders, especially when analysts generally put the ultimate price of a Roche-Genentech deal at $100 per “This has been a long drawn-out dance,” said Rod managing director of and the former head of business developmengt for Genentech. “There’s a real game of chicken beingplayef here.
” Roche already owns 55.8 percenyt of Genentech. One of the reasons for the six-month Ferguson said, is the size of the deal betweenj one ofthe world’s largesrt pharmaceutical companies and the world’s largest biotech. Also, Roche has trieds to be sensitive to thevaunted “Genentech culture.” “We have greay respect for our colleagues at Genentech and we will take the necessary steps to nurture Genentech’ innovative and unique science-driven culture,” Rochde CEO Severn Schwan said in a statement today, accordinyg to the Wall Street Journal .
But the hostil e offer could upsetthat balance, some people who follow the company have “In the end, cash wins (over culture),” Fergusonm said. Among the possible deal alternatives: Genentech management assembling minoritu shareholders for a bid that buys someof Roche’s sharez and Roche part-owner working with Genentech on a deal to buy Roche last year said it plans to shut down its Palo Alto where it employs 3,000, and shiftt an undisclosed number of jobs to South San Francisco and New It has said it would keep Genentech’es South San Francisco site for independent research.
Aftee Roche’s initial offer, Genentech transforme its stock option program into an employee retention Payouts from that plan could beginbby mid-year.
billion, about $1.6 billion lower than its previou offer. Swiss pharmaceuticals giant Roche is nowoffering $86.50 a sharre for South San Francisco-based Genentech — $2.5 less than the offer it made last July and a committe of independent Genentech directors rejected in August. Genentech (NYSE: DNA) shares closed at $84.09 That may be too slim of a premiufor shareholders, especially when analysts generally put the ultimate price of a Roche-Genentech deal at $100 per “This has been a long drawn-out dance,” said Rod managing director of and the former head of business developmengt for Genentech. “There’s a real game of chicken beingplayef here.
” Roche already owns 55.8 percenyt of Genentech. One of the reasons for the six-month Ferguson said, is the size of the deal betweenj one ofthe world’s largesrt pharmaceutical companies and the world’s largest biotech. Also, Roche has trieds to be sensitive to thevaunted “Genentech culture.” “We have greay respect for our colleagues at Genentech and we will take the necessary steps to nurture Genentech’ innovative and unique science-driven culture,” Rochde CEO Severn Schwan said in a statement today, accordinyg to the Wall Street Journal .
But the hostil e offer could upsetthat balance, some people who follow the company have “In the end, cash wins (over culture),” Fergusonm said. Among the possible deal alternatives: Genentech management assembling minoritu shareholders for a bid that buys someof Roche’s sharez and Roche part-owner working with Genentech on a deal to buy Roche last year said it plans to shut down its Palo Alto where it employs 3,000, and shiftt an undisclosed number of jobs to South San Francisco and New It has said it would keep Genentech’es South San Francisco site for independent research.
Aftee Roche’s initial offer, Genentech transforme its stock option program into an employee retention Payouts from that plan could beginbby mid-year.
Monday 5 September 2011
Lewis: Feds pressured BofA on Merrill - Philadelphia Business Journal:
http://index-go.net/?f=0&n=1
But some lawmakers questioned how much of the pressures was actually made by Lewis in an attemptg to secure more taxpayer aid forhis bank. “Thse Treasury Department provided $20 billion for a shotgun wedding. But the question is, who was holdingb the shotgun?” Rep. Edolphus Towns (D-New said during the hearing. The hearing, conducted by the Houser Committee on Oversight andGovernment Reform, was focusexd on federal officials’ role in BofA’s purchasd of Merrill Lynch. Charlotte-based BofA (NYSE:BAC) bought Merrilp on Jan. 1 for $29.q1 billion.
The deal resulted in BofA’s receiving an additional $20 billiomn in federal funds under the Troubled AsseytRelief Program. BofA has received a totalp of $45 billion in TARP funds. Lewisd has been under intense pressurwe from BofA shareholders for not disclosint the depthof Merrill’s financial difficulties before the merger. Merrillo lost $15.3 billion in the fourth Lawmakers questioned Lewis on reports that he felt pressuresd byfederal authorities, including Federal Reserve Chairmanb Ben Bernanke and former Treasurt Secretary Henry Paulson, to go ahead with the deal in December as Merrill’s losses mounted. Lewie testified that BofA contacted officials atthe U.S.
Treasurgy and Federal Reserve in mid-December to informn them that thebank “had seriousz concerns about closing the transaction.” he said, was considering declaringg a “material adverse change,” which can allow an acquired to back out of a proposed deal. Lewis testifiedd that Paulson toldhim BofA’s management “would or be removed if the bank backed out of the When lawmakers pressed him Thursday on the allegedc threats by regulators, Lewis said both partie s were concerned about making the best decisionsd for the health of the U.S.
economy and He explained that a decision that would harm the economy would also harm BofA because of its massived sizeand breadth. Lewis testified that he wasn’g intimidated by the threatt of losing his job but bythe “seriousness of the threat” and the ramifications on the overall economyh had an influence on his decision. “Justr six months later, it is easy to forgett just how close to the brink oursystem came,” Lewis said. “I will nevet forget.” Still, some lawmakers suggested Lewis shoulde have knownabout Merrill’s losses before December.
They pointed out an e-mail in whichj Bernanke suggested Lewis’ threat to back out of the Merrill deal wasa “bargainintg chip.” Lawmakers also pointed to other e-mails from regulators suggesting claims about surprising losses were “not credible.” Rep. Dennis Kucinich among others, suggested the e-mails indicated Lewis threatened to call off the Merrillp deal as a way to land moregovernmentr aid. “It’s quite possible it was Bank of America that put a gun to the head ofthe government,” Kucinichy said. BofA eventually closed the deal withMerrill Lynch, and receivee a $20 billion loan from the TARP fund to covere the Merrill losses.
Also on Thursday, Lewis indicated that federal officials never askerd him to withhold information from shareholderx that BofA thought needed to be That caused lawmakers to remind him he wasundetr oath. In February, Lewis testified before New York Attorney General Andrew Cuomo that Bernanke and Paulsonm pressured the bank not to discuss its increasingly troubledf plan tobuy Merrill. The congressional committe expects to call Paulson and Bernanke for similar hearingd as it continuesits investigation.
But some lawmakers questioned how much of the pressures was actually made by Lewis in an attemptg to secure more taxpayer aid forhis bank. “Thse Treasury Department provided $20 billion for a shotgun wedding. But the question is, who was holdingb the shotgun?” Rep. Edolphus Towns (D-New said during the hearing. The hearing, conducted by the Houser Committee on Oversight andGovernment Reform, was focusexd on federal officials’ role in BofA’s purchasd of Merrill Lynch. Charlotte-based BofA (NYSE:BAC) bought Merrilp on Jan. 1 for $29.q1 billion.
The deal resulted in BofA’s receiving an additional $20 billiomn in federal funds under the Troubled AsseytRelief Program. BofA has received a totalp of $45 billion in TARP funds. Lewisd has been under intense pressurwe from BofA shareholders for not disclosint the depthof Merrill’s financial difficulties before the merger. Merrillo lost $15.3 billion in the fourth Lawmakers questioned Lewis on reports that he felt pressuresd byfederal authorities, including Federal Reserve Chairmanb Ben Bernanke and former Treasurt Secretary Henry Paulson, to go ahead with the deal in December as Merrill’s losses mounted. Lewie testified that BofA contacted officials atthe U.S.
Treasurgy and Federal Reserve in mid-December to informn them that thebank “had seriousz concerns about closing the transaction.” he said, was considering declaringg a “material adverse change,” which can allow an acquired to back out of a proposed deal. Lewis testifiedd that Paulson toldhim BofA’s management “would or be removed if the bank backed out of the When lawmakers pressed him Thursday on the allegedc threats by regulators, Lewis said both partie s were concerned about making the best decisionsd for the health of the U.S.
economy and He explained that a decision that would harm the economy would also harm BofA because of its massived sizeand breadth. Lewis testified that he wasn’g intimidated by the threatt of losing his job but bythe “seriousness of the threat” and the ramifications on the overall economyh had an influence on his decision. “Justr six months later, it is easy to forgett just how close to the brink oursystem came,” Lewis said. “I will nevet forget.” Still, some lawmakers suggested Lewis shoulde have knownabout Merrill’s losses before December.
They pointed out an e-mail in whichj Bernanke suggested Lewis’ threat to back out of the Merrill deal wasa “bargainintg chip.” Lawmakers also pointed to other e-mails from regulators suggesting claims about surprising losses were “not credible.” Rep. Dennis Kucinich among others, suggested the e-mails indicated Lewis threatened to call off the Merrillp deal as a way to land moregovernmentr aid. “It’s quite possible it was Bank of America that put a gun to the head ofthe government,” Kucinichy said. BofA eventually closed the deal withMerrill Lynch, and receivee a $20 billion loan from the TARP fund to covere the Merrill losses.
Also on Thursday, Lewis indicated that federal officials never askerd him to withhold information from shareholderx that BofA thought needed to be That caused lawmakers to remind him he wasundetr oath. In February, Lewis testified before New York Attorney General Andrew Cuomo that Bernanke and Paulsonm pressured the bank not to discuss its increasingly troubledf plan tobuy Merrill. The congressional committe expects to call Paulson and Bernanke for similar hearingd as it continuesits investigation.
Friday 2 September 2011
CalPERS committee OKs health care rate increases - Los Angeles Business from bizjournals:
hyhekim.wordpress.com
Rate proposals approved by the committee will go to the full CalPERSz Board of Administration foractiohn Wednesday. Basic HMO rates for statre workers will rise an averageof 3.43 percent in 2010, down from almost 6.6 percengt in 2009. The rate hikes run from a low of 0.32 percentt for Blue Shield Net Value to a highof 4.9 percentr for Kaiser. Figures for public agency workersz varyby region. Medicare HMO rates for all workers and regionsd will increase an averageof 0.27 percent in but vary from a 12.27 drop for memberse of Blue Shield Access+ to a 6.5 percentf increase for Kaiser members.
“We are extremelgy pleased to presentthese rates,” Gregory Franklin, assistant executivew officer of CalPERS health benefits branch, told committeer members Tuesday. “Negotiations were extremely tough. There were many optionws and extra meetings on what we werelooking for: The Kaiser rates were achieved by aligning them with the Blue Shield benefit design, Franklin said. Kaiserr will eliminate chiropractic benefits next year and increasde the copayment fora 100-day supply of prescription drugs. CalPERS kept the lid on increasees atits self-funded preferred providerf organization plans by using $46.7 millionj in surplus reserves to “buy down” rates.
The average PPO rate increasde for state workers in 2010is 3.29 percent, but it runs from a low of 1.38 percenyt for PERS Select to a high of 12 percentg for PERSCare. Medicare PPO rates will increases an averageof 0.27 percent in all but they range from a 12.27 percent drop for Blue Shield Access to a 6.5 percent increase for Kaiser coverage. Committewe chair Priya Mathur applauded the plans and CalPERS staff for the good rate adding that the small increases in 2010 are due to cumulativee changes over the last several years to operatd the health benefits programmore cost-effectivelhy without jeopardizing quality of care.
Rate proposals approved by the committee will go to the full CalPERSz Board of Administration foractiohn Wednesday. Basic HMO rates for statre workers will rise an averageof 3.43 percent in 2010, down from almost 6.6 percengt in 2009. The rate hikes run from a low of 0.32 percentt for Blue Shield Net Value to a highof 4.9 percentr for Kaiser. Figures for public agency workersz varyby region. Medicare HMO rates for all workers and regionsd will increase an averageof 0.27 percent in but vary from a 12.27 drop for memberse of Blue Shield Access+ to a 6.5 percentf increase for Kaiser members.
“We are extremelgy pleased to presentthese rates,” Gregory Franklin, assistant executivew officer of CalPERS health benefits branch, told committeer members Tuesday. “Negotiations were extremely tough. There were many optionws and extra meetings on what we werelooking for: The Kaiser rates were achieved by aligning them with the Blue Shield benefit design, Franklin said. Kaiserr will eliminate chiropractic benefits next year and increasde the copayment fora 100-day supply of prescription drugs. CalPERS kept the lid on increasees atits self-funded preferred providerf organization plans by using $46.7 millionj in surplus reserves to “buy down” rates.
The average PPO rate increasde for state workers in 2010is 3.29 percent, but it runs from a low of 1.38 percenyt for PERS Select to a high of 12 percentg for PERSCare. Medicare PPO rates will increases an averageof 0.27 percent in all but they range from a 12.27 percent drop for Blue Shield Access to a 6.5 percent increase for Kaiser coverage. Committewe chair Priya Mathur applauded the plans and CalPERS staff for the good rate adding that the small increases in 2010 are due to cumulativee changes over the last several years to operatd the health benefits programmore cost-effectivelhy without jeopardizing quality of care.
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