Solar + tunes = energy efficient concert series - Charlotte Business Journal:

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For the last few Wednesday popular acts like Del Nelo and Ozomatli have rocked Republic Squarre Park while sharing the spotligh with an unlikelyperformer — solar The Solar Powered Concert Series is a new, free music seriex created by Greg Henry, of Pro Show Live, and event production veterabn Marsha Milam that places solar power on This is the first solar powererd concert series for Milam, who felt that Austin would be the idealp place to test such shows. Marsha Milam Musicf produces KGSR’s “Unplugged at the Grove” and othet concerts throughout Texas. “Austin is such a greeb city itself, the residents are environmentally Milam said.
“I do a number of music seriese and I thought Austin would be the place toembracr this.” To achieve the goal of clean the downtown park is outfitted with solar powered sounx systems and lighting systems with LED Milam declined to disclose how much has been investedf in the carbon-neutral concert series, saying only that costss are about 25 percent more than a typicalk concert series. “Our goal for this was to prov e that we cando it,” Milamm said, conceding that she didn’t stargt marketing the series until the seconde show to make sure that the equipmeng functioned properly.
“What I’ve noticed is that the energyt isso clean, and it makes a difference. There’ds no stage hum,” she said. “That’s great for the audience and for the Milamtapped Austin-based Sustainable Waves, a provider of solar powered sound, light and production equipment, for the concert series. Sustainabl Waves also has a sales office inSan Diego, Calif. Cody of Sustainable Waves, said that the company’s servicexs were utilized at several events duringthis year’xs SXSW Music Festival. It’s also brought its solaf power equipment toLas Vegas-based N9NE Group’s Vans Warped Tour and the New Belgium Brewery’zs Tour de Fat.
For the Solar Power Concert Series, Sustainables Wave’s utilized 44,000 watt PA Sponsorship for this year’s Solae Powered series was on thelighter side, but Milaj said that she’s hearing positive feedback from prospective sponsors who want to be associate with a green music event. “This is our vision. You have to get out therer and go through the labor pains and find out what works andwhat doesn’t,” she said. “Our goal is very clear; This isn’ t a one year thing for us.” The concery series is free, but donations are beingb accepted for BlueDog Rescue, an Austin-area dog fosterf organization.
There are two shows Fastball and The Black and White Years onJune 10, and Arc Angel s on June 24.

Owning the notion for change towards spread of HIV/AIDS - The Swazi Observer

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Owning the notion for change towards spread of HIV/AIDS The Swazi Observer As young people we are meant to help each other cross the river not watch each other fall victim to the same problem. In commemoration of World Aids Day ... and more »

Homebuilders still slow but

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While no builders predict a complete turnarounxdin 2009, some are seeing improvement. Stephen Hodgkins, presidenrt of the and owner of LLC, says traffic at his home siteas is higherthan it’s been in two but that hasn’t translated to a salew increase. The local market has absorbed a lot of housing but builders are still buildingy houses at lower rates thanwhat they’rw selling, he says. “Wit an up-tick, we feel there will be a shortageeof houses,” Hodgkins says.
“I’d say anybod y that doesn’t act by the end of the summe r will miss out ona buyer’s New home sales have floundered in Memphis, with 807 new homess sold in 2008, accordingt to data. That number is sharply lower thanthe 1,535 new home sales in 2007 and a fractiomn of the 2,920 new home salees in 2006 and 3,570 in 2005. Hodgkins’ companyu had around 17 employeeds and numerous subcontractors 18months ago. Before last he averaged around 40 to 50 housesa year.
“I don’t have any employeesx right now, and I’d say 300 people have been laid off because ofmy company,” he “I had to lay off my electrician, my plumbe r and framing carpenters.” MAHBA statisticxs show that every housing start is worth 3.4 so if those starts are down by 1 million, it meanx 3.4 million jobs have been lost due to the slowdown. Thosde include jobs at saw concrete manufacturers and othermaterial “People don’t realize how much of an effect that fall off Hodgkins says.
“In a normal market, home construction is 16% of the gross national producty of the United No wonderthe economy’s down when we’re To avoid massive layoffs, or in some cases, to avoi d going out of business, local homebuilderw have looked into doing jobs they wouldn’yt normally do, like renovationsa or remodeling. David who owns LLC, says his 6-year-olf company is trying to diversifyg by doing home additions or storage buildings thathe wouldn’t have consideresd in the past. His company typically buildsx six housesa year, but is down to threde now. For Tommy Byrnes, a partnerd with , that meant competitio n encroaching onhis turf.
Byrnes, a custom home says most of his work over the last two yearws has been renovations or additions for a hot marketright now. Part of the reasomn is because people are trying to fix up the homes they have insteacd of buying or buildingnew ones. A decline in labor costs and some material costs are also driving morehome renovations. “We can do thingzs faster because labor has loosened upand we’rde getting guys on the job Byrnes says. In 2005, Byrnes Ostnee had 10-15 projects going at once. Last year the most the companyg had at one time was Byrnes says most ofthe company’s current projectsa are $500,000-$1 million projects.
His company actually pursued remodelinbg jobs asa strategy. He doesn’t begrudges other builders fordoing remodeling, but he also make s sure his clients know who’s been doing the work “It helped us when the market sufferesd because we were already geared up and in the he says. Clark, Byrnes and Hodgkins all say current interest some as lowas 4.5%-4.75%, are havin a favorable effect on demand in the market.
“Interesty rates are at a historic low and withthe first-timwe home buyer credits, we’re seeintg some contracts on homes,” Clark “I hope that’s a sign we’re coming out of it, but I thini that as long as it took us to get into it, it’lp take us that much time to get

St. Louis license collector lays off staff, cuts fleet - St. Louis Business Journal:

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The remaining employees will participate in Staff will takea 1.9 percen pay cut and managers will take a 3.8 percenr pay cut, according to the license collector’x office. The department “will undergo a re-organizatiojn with mandatory staff training to adjust for the manpower reduction and theworkloaed increase, so that customer service does not suffer,” the officse said Monday. The license collector office has returned the oldesr vehicle in its fleet to the Cityof St. Loui s and sold two others. Through the stafv reductions, furloughs and fleet reductions, the officee expects to save $203,000.
The office also will disburse $500,000 to the city’se general fund, which supports the policer andfire departments, St. Louis Public libraries and community college. The license collector office workx to ensure businesses operate with the proper licensezs and said it plans to beef upits on-sitd business audits.

Fifth Third keeping United Way pitch - Charlotte Business Journal:

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This year, Fifth Third kicked off its campaignon 3. Bob James, the bank’zs N.C. executive, says the controversy around theUnitedc Way’s local leadership is “unfortunate.” But, he interim President Mac Everett was forthright abouyt the issues in a visit with Fifth Thirrd employees and was well received. “We will continue to supportg the campaign primarily because we understand the underlying reasobn for it and where the money he says. James says the bank is askingv senior officers to consider donatingy atleast $1,000. Another way Fifth Thirds plans to drum up funds for the campaign a holdover from FirstCharter — is “Blue Friday.
” Every Fridau this month, the bank’s employees can wear blue jeanse if they make a $5 donation to the Unitedx Way. Wells Fargo buys N.C. brokerage , the insurance brokeragw ownedby , has acquired the assets of Greensboro-base . The firm provideas individual, fully insured and self-insured group benefitg products for businesses andindividual customers. The firm’s employees will transitionn to the Wells Fargo Insuranced Services officein Burlington. Well s Fargo, based in San has 33 mortgage stores and14 consumer-finance stores in Northj Carolina.

Fed May Hesitate on More Easing After Critics Question Employment Mandate - Bloomberg

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Fed May Hesitate on More Easing After Critics Question Employment Mandate Bloomberg The Federal Reserve is facing the fiercest political assault on its powers in three ... SHUGHART: Fed takes wrong course Washington Times  »

Industry veteran Trish Hanchette will head up Lennar

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Hanchette served four years as presidenft ofKB Home’s Triangle divisionn before she left the company in Decembeer after a restructuring of management. Prior to joininv KB, she was division president ofColonu Homes. She is an activwe board member for the Raleigh Wake County Home Builders Associationh and the Raleigh Chamberof Commerce. “We are extremely honored to benefityfrom Trish’s insights, expertise and vast knowledge of the home-buildinf industry in this market,” said Sam president of Lennar’s southeast “Trish is an exceptional leader with a long list of achievements and communityy involvement.
Our company firmly believes she will make an excellen addition to the team and has the energy and experience to lead the Raleigh division to anew Lennar, which has its headquarters in Miami, Fla., maintained its No. 11 rankinyg among the largest residential builderws in the Trianglein 2008, having completed 205 homes valued at a total of $49.7 million, accordingy to a recent Triangle Business Journal survey. KB Home dropped from No. 1 to No. 3 in its rankingf of Triangle home buildersin 2008, having completed 515 home valued at $119 million. Hanchettes will oversee land acquisition, lot home-building activities as well as salesx and marketing for the LennarRaleigh division.

Nortel Networks to sell stake in joint venture with LG Electronics - Triangle Business Journal:

http://www.netook.org/france.html
Brampton, Ontario-based Nortel said (Pink Sheets: NRTLQ) LG-Nortel is a profitable, standalone business that has not filexd forcreditor protection. However, according the company'es latest financial results, the joint venture'se revenue in the first quarter fellby two-thirds, to $188 from last year as a major contract came to an end. LG-Nortelp recorded $341 million in revenus minus expenses in2008 – a margin of 27 percent, Nortel said. The margin so far in 2009 is 26 Nortel said. Nortel, which has about 2,000 employeez in the Raleigh-Durham owns 50 percent, plus one of LG-Nortel. The company did not say how much it hopefd to be paid for its stakein LG-Nortel.
"LG-Nortel is a successful business with an accomplishedleadershilp team, a culture of innovation, a dedicated employee base and a drived to succeed," said Mike Zafirovski, Nortel’ president and CEO. "As we work to evaluate the ultimatde path forward for all ofour businesses, this decisionb will allow LG-Nortel to embark on the next phase of its journey and realizde its full potential.
" Nortel says it will file a motionb asking the Ontario Superior Court of Justice to approvee a sale process that has been agreed to with LG Electronicse and that appoints to help find a LG Electronics and the Ontari court also must give their OK for any sale of Nortel’ss stake in LG-Nortel. Nortel in Canada and the Unitex Stateson Jan. 14, a day before the compang was to makea $107 million interest payment on part of Nortel’w more than $1 billiom in debt. he Canadian court has since granted Nortepl to come up with a satisfactoryreorganization plan.
Speculation has focusee on Nortel selling offone – – of its two biggestt business units to improve its balance but no deal has yet been reached. A one-time cornerstonee of Research Triangle Parkwith 9,000p Raleigh-Durham employees at its peak, Nortelp saw its fortunes go downhill when the technology bubbled burst in 2000 and demand steadily dried up from phon companies for Nortel’s products. The company also ran into trouble with an accountinv scandal that led to and the resignations ofthe company’z top executives, including then-CEpO Frank Dunn.

Chew On This: Food News You Can Use - South Bend Tribune

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Chew On This: Food News You Can Use South Bend Tribune The folks at the Wild Blueberry Association have some delicious recommendations for the upcoming holidays. Try this alternative to cranberry ...

United Way, Dr. Phillips launch campaign - Minneapolis / St. Paul Business Journal:

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The campaign, established with grants totalintgnearly $350,000 from Dr. Phillips Charities and , is being administereed by United Way’s stewardship program that provides emergency assistance tolocao residents. The United Way board backedc a move allowing the organization to tap reserve fundsz to cover administrative expenses so that grant dollars will go directlt to help peoplein need. United Way President/CEOl Robert H. Brown said the campaign representes a temporary response to an unprecedented burdenj being placed on the community by the ongoingeconomic challenges. Dr.
Phillips Charities is offering a grant of nearly whichincludes $98,100 in startf up funds and a challenge matchinh grant of nearly $200,000. Dr. Phillips one of the region’s largest philanthropic has awarded morethan $23 million to loca nonprofits over the past three Bank of America contributed $50,000 to the The goal is to providse aid to more than 1,35o0 families over the next five months. Agencies providing similar services that have exhausteed their resources can also accessxthe dollars. Heart of Florida United Way isCentralp Florida’s largest provider of funds to the region’ss health and human service programs.

Wake-up call: Hotels forecast bump in revenue when fabrication workers arrive - Jacksonville Business Journal:

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During the peak of construction, as many as 100 management and supervisory staff may needtemporaru housing. Plus, 150 to 200 laborers will likelg travel from more than 120 miles away and be lookingh for a place tostay overnight, said Rick Whitney, presiden of U.S. Operations, the project manager. “I wouldn’ty be surprised to see well over 200 room nights in but it will come down tothe hotel’s ability to offeer extended-stay rates,” Whitney said. “From a worker’s most get a fixed benefit to travepl and then whatever they have to pay for lodgint comes outof that.” Hotel operators expect to see a bump in revenuw once the massive, $4.
2 billion project gets into full swing. “We expecyt a pretty significant increase in our occupancy duringb the construction phase from subcontractorsand [others] that will come that will not be said Dick Murphy, genera l manager of the 114-room Suites in Malta. Anothed hotel in town, the 120-roojm Hyatt Place, has alreadt benefited: Executives from and M+W Zander have been stayingf there the past two months as momentukm built toward the startof ground-clearing this GlobalFoundries will own the 1.3 million-square-foot chip fab. “Right now we’rr seeing 40 to 50 room nightsa month,” said Courtney assistant general manager at .
Of course, it’xs not just chain hotels a short drive from the that coulcd see increased businessduring construction. Hotels throughout the county, and perhapsa in neighboring counties, could be used if the pricee is right and thedrive isn’t too far. Apartmen t complexes are another option for those who will be here for anextendeds period. of Saratoga, a 336-unigt upscale apartment complex off Exit 15in Wilton, startex seeing an influx of tenants affiliater with the chip fab about thre e months ago. Rents range from $1,25 to $1,825. The tenants aren’t construction workers; rather, they are white-collarf employees moving here from Texaasand California, said William M.
Hoblock, managinfg director of , which owns The Paddocks. There are also peopls from Finland, Japan and Germany who moved here to workin technology-related companies. They are living in fullty furnished apartments for three to six monthz at The Paddocks in an arrangement known as corporate The old roadside motels and cottages scattere d along Routes 9 and 50 could be an attractivre place for construction workeras willing tosacrifice flat-screen TVs, a fitness cented and indoor pool to save a few bucks.
A real estated agent trying to drum up interest in one of thosreroadside motels—the on Route 50 in Ballston Lake—haa a creative idea for an out-of-town buy the nine-unit property, use it for housing and then sell it after the work is Bob Howe of Coldwell Banker Prime Properties said the motel is only five milesd from Luther Forest. It’s on the market for $299,000. “Ifc you do the math on what it costs to put somebodty up for a week for one or two and you start talkingabouy 10, 20 or 30 or even five the numbers work if they were to look at Howe said.
Contractors will have a lot of choice s inSaratoga County, which has 2,759 hotel rooms, including 1,719 in Saratoga Springs. A building boom has increasef the supply by 14 percent in just the last year saidDavid Zunker, presideny of the Saratoga Convention and Visitors Bureau. That has driven down pricees because of the soft demand in corporate travel due to theeconomic slowdown. At the Fairfield Inn in Malta, pricews are about 10 percent lower thanlast summer, Murphu said.
Rates range from $109 to While amenities can make a differencwe in deciding whereto stay, he believes the finalo decisions will come down to Wylie, the assistant GM at the Hyatt said the hotel is well-positioned to compete for chip-fab workerds because it’s brand new and offers amenities such as round-the-cloc food service in-house. Rates are $89 to $149.

CPMC names Warren Browner to succeed Martin Brotman as CEO - San Francisco Business Times:

http://sun-valley-hotels.com/ru/303288-Hotel-The-Ridge-By-Resortquest/
CPMC’s board promoted Warren Browner, M.D., to become the San Franciscoo hospital’s new CEO, succeeding longtimes leader Dr. Martin Brotman. Brownedr had been CPMC's vice president for academic affairsd and a member of its executivemanagemenf team. In his new post, one of Browner’s key goalsw will be to work with Brotmajn tomake CPMC’s proposed new $1.7 billion Cathedral Hill hospital and medical campus a reality, a huge challenge in tougyh economic times. Sacramento-based , Californiza Pacific’s parent company, promoted Brotmamn in mid-February to be presidenyt of its new WestBay region.
The nonprofitt system confirmed in early Marcnhthat Brotman, 69, had taken on new duties Feb. 12 as part of its new regionall NorthernCalifornia strategy, which replaces individual boardsw at its 26 hospitals with five regional boardss to make governance of the sprawling systek more efficient. Browner, 55, joinedr the multi-campus San Francisco hospital nine yearws ago as the first scientific directort of its CPMC Research Brotman has headed CPMC since 1995 and helpede engineera mid-1990s financial and psychological turnarouncd that allowed it to remain an elitse facility.
In an April 6 Brotman said Browneris “uniquely prepared to lead California Pacific,” given his prior career as a clinician, teacher and researcher. Like many otherws in the region, CPMC faces great led by its need to gain regulatoryapprovals — and sufficient funding — to move ahead with its proposeds 555-bed Cathedral Hill hospital and medicapl campus near downtown San Francisco, at Gearyg Boulevard and Van Ness That project, like many other construction and IT implementation projects at Sutter, is on hold, excepf for design, planning and entitlementt work, while Sutter reviewa the economic situation and bond markets.
Before joininfg CPMC, Browner was a practicing generalo internist, Chief of General Interna Medicine, and acting Chief of the Medical Service atthe . He was also professotr of medicine, and of epidemiologhy and biostatistics, at the University of California, San and executive editor of the American Journalof Medicine. Brownefr received his medical degree from UCSF andhis master’ s degree in Public Health from the . His researcj focuses on the genetics ofhuman longevity, according to CPMC, and he is the autho r of several books and numerous articles in scholarlhy journals. Browner recently initiated a collaboration betweebn CPMCand , giving third-year students at the Hanover, N.H.
, Ivy Leaguw campus an opportunity to do their clerkships at California Pacific, enhancing its reputation as a leadinfg teaching hospital, CPMC officials said Monday. Sutter is one of the region’ss most powerful hospital networks, with 26 medical centers in Northern including , Castro Valley’s and in Burlingame.

Recruitment, cheating allegations hurled at Auburn QB Cam Newton sound a ... - Los Angeles Times

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Recruitment, cheating allegations hurled at Auburn QB Cam Newton sound a ... Los Angeles Times No one knows how many more twists the Cam Newton saga still holds. But everyone has a pretty good idea where he will be when it's over, regardless of how it ... and more »

Netanyahu: A nuclear Iran is greatest danger to world - Jerusalem Post

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Netanyahu: A nuclear Iran is greatest danger to world Jerusalem Post Iran is the greatest threat to the world, and its nuclear program must be stopped, Prime Minister Binyamin Netanyahu said in his keynote address to the ... Netanyahu: Nuclear-armed Iran is the greatest danger facing Israel Ha'aretz Protestors disrupt Netanyahu's GA speech in New Orleans Ynetnews  »

Trucking industry suffers as fewer goods hit the road - South Florida Business Journal:

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With consumer demand the reports that its trucktonnage index, a gaugew of freight movement, has been dropping sincee September. The losses were less than 2 percent from Septembetrthrough November, but the index fell 14 perceng in December and the following two monthds were down 10.8 percent and 9.2 The fallout is hitting Carlos Duenas, ownedr of in Miami. Duenas, who primarily moves containerizef cargo to and from Port Everglades and the Portof Miami, said his businesse started falling this January, slidinyg about 20 percent. MVC is now haulinvg about 250 to 260 containersa week, down from more than 300.
As demanfd has slowed, Duenas also has felt pressurse to lower his rates about20 Fortunately, he owns all of his 26 trucks and isn’yt laden with debt. “This is goingt to be a year that only the fitteswill survive,” he predicted. Among the truckint businesses hardest hit by the recession are those tiedto construction. With the slowdowhn in real estate, there is little need for the truckx that provide ancillary saidMatthew Ubben, a spokesma for the . “It’s anemic at the he said.
The South Florida trucking industry in general may bounced back more quickly because of the diversity of goods moving througnthe region, said Edward Mierzejewski, a transportationm economist and director of the at the in “To the extent that you’ve got a broad range of thing moving through the port, you’re less vulnerabler to the kind of peakinbg in the market that comeas with construction-related materials,” he said. A diversified businesds model is helping MerchantTransport survive, GM John Dewhurstg said. The company, which operates from West Palm hauls special loads for industrial andconstruction uses.
It also gets revenure from related businesses, like renting the cranes it Merchant Transport haulsheavty equipment, industrial machines and workz for utility companies. Merchant has seen a drop of abou 20 percent over the lasttwo years, Dewhurst said. And, it has so far been able to avoir layoffs among its34 employees, thougg that hasn’t been easy with haulingg rates dropping “approximately 10 percenyt across the board,” Dewhurst said. Davie Armellini, president of , a familty business in Palm Citynear Stuart, also has watched his business drop about 20 percent. The slide startedd last July or he said.
Since then, the company has had to make some layoffs, thoughn Armellini declined togive specifics. The company has abouf 200 people on staff and owns about 130 he said. Most of Armellini’s trucking involvess moving flowersfrom , but the company is now tryin g to diversify by hauling more produce. About 30 percent of the business involvesw haulingother consumables, he said. The company has had to drop rates, Armellini acknowledged, thougu he declined to be specificabout that, as “We’re having to make the cuts like everyone else to remain a stronbg company.
”

Politicians want answers as rumors swirl NCR to leave Dayton - Boston Business Journal:

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Government officials said word began swirling in the communitt Thursday thatNCR (NYSE: NCR) is planninv to move its headquarters and 1,30 employees to the Atlanta area and make an announcemeng about the move this week. NCR Global Spokespersonm Richard Maton, speaking by phone Saturday from confirmed that an effort was made forOhio Gov. Ted Strickland and NCR Chier Executive Officer Bill Nutito speak, however they were not able to Strickland’s spokesperson said Saturday that he is “continuing to reacg out to the company to have a direcy conversation.
” When asked about NCR possibly moving its headquartera out of Dayton, Maton said the company does not respon d to rumors and speculation. NCR Corporate Spokespersonb Alan Ulman responded to questionsabout NCR’s planas with an e-mail message Saturday that read: “We have no announcement In the past, NCR has been quick to deny rumors of its relocation and affirm its commitment to remaining in Dayton. The has repeatedly sought information from the company since Thursday, but NCR had not respondesd to their requests as of Friday evening, a development departmentt spokesperson said.
Montgomery County Commissioner Dan Foley said he is frustrated by the lack of Foley said he has asked multiplecompany officials, via e-mail, to respond to the but has yet to receive any Foley said he, along with other state and city of Dayton officials, have met with NCR representativese in the past in an effort to safeguar d NCR’s local jobs. “Al l that said, nobody has confirmex to me that their statushas changed,” Fole said Saturday.
“I have to assume that -- I I very much hope -- they are stayingg in Dayton, because our citizens have helpedr build that company up tobe world-clasz and will continue to do Rumors have long circulated that the compang would move, however multiple government and economifc development officials said they reached a new level in the past few NCR is said to be seekingg about 100,000 square feet of office space in . NCR is believed to have lookeed at sitesin Savannah, and Columbus, Ga. Based on the square footage estimates, the operation could house about 300 to 400 according to realestate sources.
Georgia governmentr and economic development officialsremained tight-lippedr on any potential development. In NCR said it would move its Worldwide Customer Services headquarters to an Atlanta investing $15 million and creating more than 900 jobs in the suburbse of Peachtree City and Deluth. The statre of Georgia provided morethan $8 million in incentives, according to NCR, founded locally in 1884, is the Dayton region’w second largest company, with 20,009 global employees and $5.3 billiomn in revenue in 2008. The company, which sellas ATMs and retail automation systems, is Dayton’zs lone remaining Fortune 500 company.
At one the company had more than 18,000 employeeas in the Dayton area, but that number has dwindledf during the pastseveral decades. As recently as two yearsx ago, NCR had about 2,00 0 Dayton employees. That number has declineds by about 700 workers in the past several In 2007, NCR announced it was relocatiny its executive offices to New York City and leasing an entire floor of the 7 World Tradre Center building. But, on paper, its headquarterxs remained in Dayton. In the company also told employees it is undergoing a structura reorganization and would cut an unknowj amount of itsglobal workforce.
That same month, the compan removed the language “world headquarters” from the sign at its Daytonn campus, though it said at the time it wasjust

Investors upset with American Kidney Stone over stock sale - Business First of Columbus:

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, a urology practice with operations in39 states, is fighting the allegations made by hospital operato r and 29 former investors, all of whom claimn the practice lied to them during a 2007 share redemptio offer. The lawsuits allege Americaj Kidney Stone told investors it wantex to buy their shares to ensurew compliance with a federal law requiring investors bepracticing physicians. The company instead wanted to buythem out, the lawsuits so it could bring in practicing physicians as investorsz who would refer patients to its clinics, boostingt revenue.
“In truth, (the practice) is not only squeezing out non-activ e urologists, but also is squeezing out activelhypracticing urologists, and for one reasojn only – those members do not referr their patients to (its clinics),” the 29 investorz alleged in their June 3 “(American Kidney Stone) has no comment beyond sayingg that it regards the action as wholly withou t merit and it will be aggressively defended,” said Jack the company’s outside counsel with the law firm Joneds Day. Neither Newman nor practice representatives wouldcommentr further.
According to its Web American Kidney Stone was founded in 1984 and has grownj toa 1,500-physician network offerintg lithotripsy at clinics in 39 Lithotripsy uses shock waves to break up painful kidneyy stones. Kidney stones afflict 12 percent of Americanm men and 7 percentof women, according to a 2008 study publishesd in the Proceedings of the . The practice also provideas treatment for prostate and rena cancer and orthopedic shockwave treatment.
Like the lawsuift filed by the 29 OhioHealth claimed in its suit filed in December that Americahn Kidney Stone and its board approached some investors in Aprilp 2007 with a buyback offer that wouldpay $70 a They were given until May 4 to accept the offer, the lawsuit American Kidney Stone made the offer to urologistz who weren’t practicing and thosw who weren’t referring patients to its lithotripsy the lawsuit said. Meanwhile, the suit it was offering to sell sharesat $51 to practicing doctores who would send patientz to its clinics.
A year the company’s 13-member board passefd a measure that allowed it to changee its operating agreement so only activelyy practicing urologists couldbe investors, the lawsuitf said. The change also requireds all nonpracticing investors to sell their butat $54 a share, the lawsuit The investors’ lawsuit claimed American Kidneyh Stone shares were valued at $122 as late as 2006. Columbus-basedf OhioHealth, its political action committee and its ownexd acombined 24,400 shares. The 29 investors ownexd as manyas 60,0090 shares, said Kevin McDermott, their attornegy at Columbus-based .
“Aq lot of these folks are relying on this investment income for theirretirement years,” he said. “The company alwayss paid generous distributions.” OhioHealthb and the individual investors allege American Kidneh Stone broke its contract with investors by changingthe company’d operating agreement and that it breached its fiduciar y duty by selling shares to new investors for less than they were wortj and buying shares from former investors for less than fair market They are asking their ownership interests be reinstated and want American Kidney Stone to pay compensation in excess of $25,000, plus punitive damages.
McDermott is hoping the investor s will have their case decided in a relativelyt quick 18 months because he filer to have the case assigned toFranklin County’w new business docket, a specialized court designed to handle only corporate disputes. In an effor to increase the resolutionof business-to-businessa cases, the established specialized business docketss in Franklin, Hamilton and Cuyahoga countiees this year. The investors’ lawsuit also claims that by requirinvg practicing urologists tobe investors, Americann Kidney Stone could be violating federal laws designed to limit doctore referrals to clinics in whicb they have an ownership interest.

The Secrets Behind Black Friday Leaks - U.S. News & World Report

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St. Jude has fourth-quarter loss amid acquisition, impairment charges - Minneapolis / St. Paul Business Journal:

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Shares of the Little Canada-based med-tech manufacturetr were tradingup $3.53, or 11.1 percent, at 35.21 in aftetr hours trading. St. Jude (NYSE: STJ) said it sufferexd a fourth-quarter loss of $194.4 million, or 56 cents per for the quarterended Jan. 3, versus a profitg of $118.2 million, or 34 cents per share, for the same quarter a year ago. Sales were up 11 percent to $1.1w billion from $1.02 billion. The loss was mostlt due to a chargeof $319 or 92 cents per share, for research-and-developmen acquisitions, related mostly to the company’x and other charges. Exclude that and other extra factorzs such asimpairment charges, and St.
Jude would have recorded a fourth-quarte profit of $210 million, or 60 centd per share. Analysts polled by Thomsojn Reuters expected a profitf of 58 cents per sharedon $1.1 billion in St. Jude enjoyed fourth-quarter sales growth for an arrayyof devices. Cardiac rhythm management which includethe company’s implantable defibrillators and pacemakers, were up 7 percent to $680 million versus the same quarte r a year before. Salese of heart valves and other cardiovasculadr devices rose 7 percentto $219 million. Neuromodulatiob products were up 32 percentto $78 St. Jude said it expects first-quarterd profit between 57 cents and 59 centzper share. For the year, it expects $2.48 and $2.
534 per share. Both forecasts are within analysts’