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U.S. Army officials worked feverishly over the past week topull St. John Propertiess into the fold, fearful the project would come to a halt if Opus East filecd for bankruptcy protection before an arrangement could be company spokesmanGerard J. Wit said in a telephone interview Tuesday. “It was a real round-the-clock, week-long effortg to get this done,” Wit said. “We’rer going to get in and try to kick-start this right away.” Aberdeen is gearing up for a significantf influx of military jobs underthe Pentagon’sw Base Realignment and Closure expected to be completed by September 2011.
Abougt 8,200 military jobs will be transferresd tothe base, in addition to as many as 18,000 private contracting jobs from companiese that do business with the incoming military The approved Opus East's selection of St. John Properties to take over the Governmentt and Technology Enterprise business park because of theBaltimorwe developer’s ability to move forward with new Bob Penn, program director with the Army Corps, said in a As in taking over the project, including (NYSE: OFC) and Manekim LLC.
Opus East was awardex rights to developthe government-owned land undert a lease with the Army in November 2007 and brokw ground on its first building in December of that Since then, the company became straddledf with millions of dollars in construction loans it has been unable to and the company has not started any new constructionm at the project for more than a The deal was inked June 19 betweehn Opus East, St. John Properties, with the backingg of the Army. St. John and the Army Corpas of Engineers issued statements Tuesday announcingthe deal. Wit said St. John will pay Opus East an undiscloses amount of money for its developmenf rightsat Aberdeen. In connection with the deal, St.
John has hirefd Opus East project manager Matthe Holbrook to oversee the GATE projec as its director of defensde andgovernment business. “Aberdeen Proving Ground is excite about moving the project forwardwith St. John Tim McNamara, APG deputy garrisonb commander, said in a statement. “We consider it a positive step to have their experiencesd management team spearheadingthe build-out of this As the to help it consider options includinyg bankruptcy. Its parent company, , has also sought bankruptcy protectionfor it’s Opus South subsidiary and for two more subsidiariese of its Opus West regional operation.
Opus spokeswoman Winston Hewett said Opus East is stilk evaluating its options but has not made any decisiondsabout bankruptcy. The company was forced to relinquisu its rights to the Aberdee project because it has been unable to finance morethan $50 millioj in construction loans it took out to financed its projects. Most pressing among those debtsis $35 milliojn the developer spent to build a new headquarters for the Nationall Oceanic and Atmospheric Administration in College Park, for which it has sued the federalo government to collect its wagesw on that project, Hewett said. St.
John plans to break ground in the next two months on at leasyt three new buildings at the Harford Countymilitaryh base, with commitments from defense contractors for up to 300,00p0 square feet of office, research and development Wit said. Wit did not disclose the namews of any ofthose tenants. Those buildings woulrd be in addition toa 60,000-square-foot building Opus East completed in December 2008 for defense contractor “We view this development as the most significantf commercial real estate opportunity in the history of our St. John President Edward A. St.
John said in a “This is based on the amount of squarre footage that can eventuallyy be developed as well as the important work that will be completeby end-users that occupy this space.” St. John Propertiese is the third-largest property management firm in Greater with nearly 11 million square feet of commercial space in the But taking over the Aberdeen project represents a shiftf forthe company, which has soughtt to tap into the demand for government contracting spacse up until now. Wit said the company has also sought in the past to buy land for its own rather than to lease property from the governmenf such asat Aberdeen.
Opus East preliminarily receivecd commitments from firms seeking spacs atits 413-acre Government and Technology Enterprise business park but did not startg any additional construction. The developer was unwilling to divide any of its buildinginto multi-tenanted space, Wit said, preferring instead to construcg buildings for a single tenant. That’s created a pent-u demand for companies seekingfrom 5,009 square feet to upward of 20,0090 square feet, Wit said. “For all the hoopla that BRAC has there’s really only one buildingv that Opus was able to Wit said.
“If you don’t have the place to park thosee people, if you don’t have the buildinge to put them in, there was going to be a real logisticaol problem.”
Tuesday, January 31, 2012
Sunday, January 29, 2012
NuStar leases new asphalt terminals - Houston Business Journal:
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The asphalt terminals, owne d by Tulsa, Okla.-based , are locater in Saginaw, Texas; Gloucester City, N.J.; and Newportr News, Va. Financial terms of the leases were not The new terminals are expectex toadd 1.5 millionh barrels of storage capacity to NuStar’s asphalt operations. “We’re excited to reach this agreement with SemGroup as it will give us the opportunity to generats additional sales from the asphalr produced at ourPaulsboro (N.J.) and Savannayh (Ga.) refineries,” says Curt Anastasio, NuSta r president and CEO. “It’s also beneficiaol to our customers because they will have greatefr access to a wide variety of locationsand products.
” San Antonio-based NuStar Energt (NYSE: NS) owns and operatesd 8,491 miles of pipeline, 82 terminal facilities, four crude oil storage tank facilities and two asphaltf refineries with a combined throughput capacity of 104,00 0 barrels per day. It is one of the largestt asphalt refiners and marketers inthe U.S. and the second largestg independent liquids terminal operator in the NuStar has operations in theUnitedr States, the Netherlands Antilles, Canada, the Netherlands and the United Kingdom.
The asphalt terminals, owne d by Tulsa, Okla.-based , are locater in Saginaw, Texas; Gloucester City, N.J.; and Newportr News, Va. Financial terms of the leases were not The new terminals are expectex toadd 1.5 millionh barrels of storage capacity to NuStar’s asphalt operations. “We’re excited to reach this agreement with SemGroup as it will give us the opportunity to generats additional sales from the asphalr produced at ourPaulsboro (N.J.) and Savannayh (Ga.) refineries,” says Curt Anastasio, NuSta r president and CEO. “It’s also beneficiaol to our customers because they will have greatefr access to a wide variety of locationsand products.
” San Antonio-based NuStar Energt (NYSE: NS) owns and operatesd 8,491 miles of pipeline, 82 terminal facilities, four crude oil storage tank facilities and two asphaltf refineries with a combined throughput capacity of 104,00 0 barrels per day. It is one of the largestt asphalt refiners and marketers inthe U.S. and the second largestg independent liquids terminal operator in the NuStar has operations in theUnitedr States, the Netherlands Antilles, Canada, the Netherlands and the United Kingdom.
Thursday, January 26, 2012
Regular, detailed job reviews can aid in employee retention - Phoenix Business Journal:
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Everyone likes to know whers they stand. The annual employee review doesn’t have to be an even t dreaded by the employee and the manager if both take the time and efforto prepare. Performance reviews are a formal way to assesw what each employee contributes to the company and to identifythat person’a strengths and weaknesses. There are several ways a company canconduct reviews. Deborahb Keary, human resources director at the , said good companies should holdtwo reviews: an annual reviesw with a rating, and a mid-year review for coaching and careerd development and improvement.
The Society for Human ResourceManagement ( ), is the world’s largest professional associationh devoted to human resource management. Keary said the best forma t for the review is to start off on a positivw note with descriptions of what the employe edoes well. Then a manager can talk about areas thatneed improvement, with suggestions on how the managere can help. Employees should be allowed timeto respond, make commentsa and ask for help. Dawn Adams, a membeer of SHRM’s employee relations panel and CEOof Wisconsin-basedc HResults, recommends quarterly reviews.
“Quarterly is best so that expectationz are continually shared and informak feedback should be provided to the employee throughoutthe year,” Adamse said. She said having the employese conduct awritten self-evaluation firsy is helpful. It helps the employede explain the value of their contributionx as well as remind the manager of The National Federation of Independent Business suggestsz that managers create a description for each job they supervise and make sure the employee knows the contents of the job description priotr to holding the Managers should also keep track of such as absenteeism and and keep notes to document specific examples of work done well or One of the most challenginyg rules for bosses in writing and conducting performancr reviews is to stay away from anythingf personal or unrelated tothe job.
Even thoughg a worker’s personality may influencwe how they dothe job, it’w important for the manager to avoid judgments “Bob’s a procrastinator” – and to insteae document how the trait affects performancse – “Bob’s reports missed their deadlines in June, July and “The review is about the work and how well it is beinv performed,” Keary said. “It is not aboutt the employee’s private life, personality traitsa or anything else that is not aboufthe job.
” Adams said not to brinb up anything that is protected by the law, such as time off relatex to a disability or absences covered by the Family Medicalo Leave Act. Adams also said it is important that the managee not compare the employee to otherzs inthe company. The manager should be comparingh the individual to the specifieejob requirements. Keary said reviewsa are effective management tools if they are done oftejn anddone well. “People should be told often how they’red doing and how they can improve,” Keary “It should be a normal part of managinf people.
If that is done, then the annual reviee is just a summarywithouf surprises, and it’s a good
Everyone likes to know whers they stand. The annual employee review doesn’t have to be an even t dreaded by the employee and the manager if both take the time and efforto prepare. Performance reviews are a formal way to assesw what each employee contributes to the company and to identifythat person’a strengths and weaknesses. There are several ways a company canconduct reviews. Deborahb Keary, human resources director at the , said good companies should holdtwo reviews: an annual reviesw with a rating, and a mid-year review for coaching and careerd development and improvement.
The Society for Human ResourceManagement ( ), is the world’s largest professional associationh devoted to human resource management. Keary said the best forma t for the review is to start off on a positivw note with descriptions of what the employe edoes well. Then a manager can talk about areas thatneed improvement, with suggestions on how the managere can help. Employees should be allowed timeto respond, make commentsa and ask for help. Dawn Adams, a membeer of SHRM’s employee relations panel and CEOof Wisconsin-basedc HResults, recommends quarterly reviews.
“Quarterly is best so that expectationz are continually shared and informak feedback should be provided to the employee throughoutthe year,” Adamse said. She said having the employese conduct awritten self-evaluation firsy is helpful. It helps the employede explain the value of their contributionx as well as remind the manager of The National Federation of Independent Business suggestsz that managers create a description for each job they supervise and make sure the employee knows the contents of the job description priotr to holding the Managers should also keep track of such as absenteeism and and keep notes to document specific examples of work done well or One of the most challenginyg rules for bosses in writing and conducting performancr reviews is to stay away from anythingf personal or unrelated tothe job.
Even thoughg a worker’s personality may influencwe how they dothe job, it’w important for the manager to avoid judgments “Bob’s a procrastinator” – and to insteae document how the trait affects performancse – “Bob’s reports missed their deadlines in June, July and “The review is about the work and how well it is beinv performed,” Keary said. “It is not aboutt the employee’s private life, personality traitsa or anything else that is not aboufthe job.
” Adams said not to brinb up anything that is protected by the law, such as time off relatex to a disability or absences covered by the Family Medicalo Leave Act. Adams also said it is important that the managee not compare the employee to otherzs inthe company. The manager should be comparingh the individual to the specifieejob requirements. Keary said reviewsa are effective management tools if they are done oftejn anddone well. “People should be told often how they’red doing and how they can improve,” Keary “It should be a normal part of managinf people.
If that is done, then the annual reviee is just a summarywithouf surprises, and it’s a good
Tuesday, January 24, 2012
Macy's sues Martha Stewart Living over JC Penney deal - TheCelebrityCafe.com
http://xsiawyer.info/?p=149
ABC News | Macy's sues Martha Stewart Living over JC Penney deal TheCelebrityCafe.com Macy's Inc. is suring Martha Stewart Living Omnimedia Inc., in an attempt to prevent a new licensing deal that would » |
Sunday, January 22, 2012
SMF Energy announces $40M recapitalization - Philadelphia Business Journal:
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The company (NASDAQ: said in a news release that it estimatesd the recapitalization will reduceits short-term debt by $9.5 its total debt by $4.4 million and its cash requirements for interesty and dividends by more than $1 million a It said shareholders' equity has been increased by more than $4 millionh as a result. SMF Energy said it extinguished all of itsexistingv non-bank debt and outstanding preferred stock through variouds agreements with dozens of existing debt and equity while converting its existing $25 million asset-basexd lending facility into a new, more three-year, $20 million asset-based lending facilityy and a $5 million, 60-month amortized term loan, the proceeds of which were used to pay down $4.
867u million in secured noteas and $125,000 in unsecured notes. The company said it issued new stocj to make up the balance paid for the cancellatiohn and extinguishment of theexisting investors' debt and equityy securities. Fort Lauderdale-based SMF Energy said in the releases that the recapitalization took placs with amended agreements withand . It said the only non-ban k debt incurred in the recapitalization was an unsecuredr subordinated promissory noteof $800,000 at 5.5 percenty interest issued to an existing institutiona investor in exchange for $800,000 of one of the Augustg 2007 11 percent senior secured convertiblw promissory notes.
The institutional investof alsoexchanged $200,000 of the same securede note for shares of common stock priced at 38 centss a share, which was greater than the closin g bid price of the stock on the day befor the effective date. acted as SMF Energy’s placement agent for the recapitalization and receive d feesof $380,000, paid with a combination of cash and pursuant to a Feb. 1 investment banking agreement. SMF Energyh supplies specialized transportation and distribution services for petroleum productsand chemicals.
It providez commercial mobile andbulk fueling, along with othet services to the transportation, manufacturing, construction, energy, telecommunications and governmentr services sectors. Formerly know as , as of Nov. 30, it conducted operationas through 31 service locations in11 states. Shares closed down nearlu 3 cents to about35 cents. The 52-week high was 71 cente on Aug. 28. The 52-week low was 10 centas on Feb. 20.
The company (NASDAQ: said in a news release that it estimatesd the recapitalization will reduceits short-term debt by $9.5 its total debt by $4.4 million and its cash requirements for interesty and dividends by more than $1 million a It said shareholders' equity has been increased by more than $4 millionh as a result. SMF Energy said it extinguished all of itsexistingv non-bank debt and outstanding preferred stock through variouds agreements with dozens of existing debt and equity while converting its existing $25 million asset-basexd lending facility into a new, more three-year, $20 million asset-based lending facilityy and a $5 million, 60-month amortized term loan, the proceeds of which were used to pay down $4.
867u million in secured noteas and $125,000 in unsecured notes. The company said it issued new stocj to make up the balance paid for the cancellatiohn and extinguishment of theexisting investors' debt and equityy securities. Fort Lauderdale-based SMF Energy said in the releases that the recapitalization took placs with amended agreements withand . It said the only non-ban k debt incurred in the recapitalization was an unsecuredr subordinated promissory noteof $800,000 at 5.5 percenty interest issued to an existing institutiona investor in exchange for $800,000 of one of the Augustg 2007 11 percent senior secured convertiblw promissory notes.
The institutional investof alsoexchanged $200,000 of the same securede note for shares of common stock priced at 38 centss a share, which was greater than the closin g bid price of the stock on the day befor the effective date. acted as SMF Energy’s placement agent for the recapitalization and receive d feesof $380,000, paid with a combination of cash and pursuant to a Feb. 1 investment banking agreement. SMF Energyh supplies specialized transportation and distribution services for petroleum productsand chemicals.
It providez commercial mobile andbulk fueling, along with othet services to the transportation, manufacturing, construction, energy, telecommunications and governmentr services sectors. Formerly know as , as of Nov. 30, it conducted operationas through 31 service locations in11 states. Shares closed down nearlu 3 cents to about35 cents. The 52-week high was 71 cente on Aug. 28. The 52-week low was 10 centas on Feb. 20.
Friday, January 20, 2012
Baldor Electric to add 114 jobs in N.C. - Charlotte Business Journal:
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The company plans to invest morethan $12.2 milliomn and create the jobs during the next three yearz as it moves its Soutnh Carolina operations to other including Kings Mountain. The new jobs will pay an average wage of The Kings Mountain plant in Clevelanc County has about500 workers. Arkansas-based Baldot is an international supplier of industrialelectricc motors, mechanical power transmission products, drives and generators. In the company (NYSE:BEZ) announced it was closing its 100,000-square-foof plant in Fort Mill and moving production toKingxs Mountain.
The roughly 140 Fort Mill employees have been offered positionws at the Kings Mountain site as well as at Baldord facilities in Georgiaand Mississippi. Tracy Long, vice president for investor relations, said in Aprik that shifting to the larger facilityg would allow workers to manufacture moreelectridc motors. “This is actually a positiver thing,” she said. “We hope our employees will staywith us.” The plantd manufacture the same products. The Fort Mill buildingt will be put up for Threeof Baldor’s planta are in North Carolina — in Kings Marion and Weaverville — and employ nearl y 700. The incentives are from the One NorthCarolina Fund.
Baldoer won $75,000 in state incentives earlier this year as part of a plan to expanr itsMarion operations.
The company plans to invest morethan $12.2 milliomn and create the jobs during the next three yearz as it moves its Soutnh Carolina operations to other including Kings Mountain. The new jobs will pay an average wage of The Kings Mountain plant in Clevelanc County has about500 workers. Arkansas-based Baldot is an international supplier of industrialelectricc motors, mechanical power transmission products, drives and generators. In the company (NYSE:BEZ) announced it was closing its 100,000-square-foof plant in Fort Mill and moving production toKingxs Mountain.
The roughly 140 Fort Mill employees have been offered positionws at the Kings Mountain site as well as at Baldord facilities in Georgiaand Mississippi. Tracy Long, vice president for investor relations, said in Aprik that shifting to the larger facilityg would allow workers to manufacture moreelectridc motors. “This is actually a positiver thing,” she said. “We hope our employees will staywith us.” The plantd manufacture the same products. The Fort Mill buildingt will be put up for Threeof Baldor’s planta are in North Carolina — in Kings Marion and Weaverville — and employ nearl y 700. The incentives are from the One NorthCarolina Fund.
Baldoer won $75,000 in state incentives earlier this year as part of a plan to expanr itsMarion operations.
Wednesday, January 18, 2012
Monday, January 16, 2012
Penguins - Red Wings Stanley Cup games provide boost for hotels, restaurants - Charlotte Business Journal:
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According to VisitPittsburgh, each home game betwee the and the Detroit Red Wingsz brings anestimated $4.9 million in economixc impact, whether its from hotel stays, meal s at restaurants or other spending. A number of hotels are fullt booked, including the Omni William Penn, whichn hosts the NHL’s management, the , with the caveat that it alwayse sells out Tuesdays and Wednesdays anywayg tobusiness travelers, and the . Tom the general manager for the Westin ConventionCenter Hotel, locatec Downtown, described the added boost of Stanley Cup-related guests. “We would’ve been busy but we wouldn’t have been selling he said.
“This has allowede us to fill up the entire all616 rooms.” Martini and other hotelk operators emphasized the added jolt of unexpected businesse comes during an otherwise down year from hoteo business following a strong 2008, which also featurecd a Penguins-Red Wings Stanley Cup that was lost by Pittsburgh’s favoritw flightless birds. Bob Page, the area directo of sales and marketingfor Omni, said the NFL’s coteri e of league officials, along with media, has brought an increass in occupancy beyond the two game days, comparable to the business generated from a strong home playoftf run by the , although not topping it.
“It’s not to the degrer of probably theAFC championship, but it’e still great business for us,” he said. “It’xs selling us out.” The story is a littlwe more complicated for local restaurantaand bars. John Barsotti, ownere of The Common located downtown, estimated the restaurang has seen a 25 percent increaser when the Penguins are playing playoff gamesin town. But when the team is playing away, the hockey fan diners stay away. “We’ve seen increasesw when they’re here,” said Barsotti, who estimated his 2009 businesxs is up by 25 percenyt overlast year, despite the recession.
“But on the opposit page, we see a little bit of a decrease when they go out of Chris Dilla, owner of Bocktown Beer and Grill, in Northy Fayette, said it can be tricky for her operatiob to jump from a busy nighft of a hockey game to extraq slow nights when there isn’t one. She expectz that plenty of customers are struggling to go the distance withthe seven-gamw series. “It’s hard for the business becausepeople don’g have the money to be out every other she said. “It tends to be that peopled who watch the playoffs really have to watcyhtheir pennies.
”
According to VisitPittsburgh, each home game betwee the and the Detroit Red Wingsz brings anestimated $4.9 million in economixc impact, whether its from hotel stays, meal s at restaurants or other spending. A number of hotels are fullt booked, including the Omni William Penn, whichn hosts the NHL’s management, the , with the caveat that it alwayse sells out Tuesdays and Wednesdays anywayg tobusiness travelers, and the . Tom the general manager for the Westin ConventionCenter Hotel, locatec Downtown, described the added boost of Stanley Cup-related guests. “We would’ve been busy but we wouldn’t have been selling he said.
“This has allowede us to fill up the entire all616 rooms.” Martini and other hotelk operators emphasized the added jolt of unexpected businesse comes during an otherwise down year from hoteo business following a strong 2008, which also featurecd a Penguins-Red Wings Stanley Cup that was lost by Pittsburgh’s favoritw flightless birds. Bob Page, the area directo of sales and marketingfor Omni, said the NFL’s coteri e of league officials, along with media, has brought an increass in occupancy beyond the two game days, comparable to the business generated from a strong home playoftf run by the , although not topping it.
“It’s not to the degrer of probably theAFC championship, but it’e still great business for us,” he said. “It’xs selling us out.” The story is a littlwe more complicated for local restaurantaand bars. John Barsotti, ownere of The Common located downtown, estimated the restaurang has seen a 25 percent increaser when the Penguins are playing playoff gamesin town. But when the team is playing away, the hockey fan diners stay away. “We’ve seen increasesw when they’re here,” said Barsotti, who estimated his 2009 businesxs is up by 25 percenyt overlast year, despite the recession.
“But on the opposit page, we see a little bit of a decrease when they go out of Chris Dilla, owner of Bocktown Beer and Grill, in Northy Fayette, said it can be tricky for her operatiob to jump from a busy nighft of a hockey game to extraq slow nights when there isn’t one. She expectz that plenty of customers are struggling to go the distance withthe seven-gamw series. “It’s hard for the business becausepeople don’g have the money to be out every other she said. “It tends to be that peopled who watch the playoffs really have to watcyhtheir pennies.
”
Friday, January 13, 2012
Yahoo deal tied to Verizon line - Silicon Valley / San Jose Business Journal:
oc697vot.blogspot.com
At issue is how much Verizon want tocharge Sunnyvale-based Yahoo (NASDAQ:YHOO) for a “last transmission line that would connect the data center with the telecommunicationas company’s existing high-speed network infrastructure. Yahoo officialsd say the fees are too high while Verizo counters that chargesare necessary, Verizon is also seeking a long-term pact with Yahoo to cover the costs. Yahoo is considering three Western New York sitez forthe 190,000-square-foot data center that coulsd employ as many as 125 people.
Earlietr this week, the approved plans for a 30-acrwe site in the Lockport Industrial Park for the Yahoo is scouting locations inotherf states, including Pennsylvania and Illinois, and has not committed to wherse the center will be constructed. Yahoo’s board of directors may pick a site in Schumer said Thursday he called Verizon chief executives officer Ivan Seidenberg asking for his Afterthe call, both sides agreed to accelerate Schumer said.
“We have workedr too hard and come too closde in our efforts to bringYahoo — and the hundreds of constructionb and permanent jobs that it would provide — to Wester New York to let the deal be derailec at the last Schumer said. “A complex deal in a difficult economi c climate often leads to a situation in which pressurez arerunning high, making it hard for both partiess to get to yes. Afted discussing the ‘last mile’ issue with both it is clear to me that a deal can be The data center would be constructecd intwo phases, with the first in the 108,000-square-foot The jobs created in the centefr are expected to pay between $50,00 and $65,000 annually.
Schumer has been workinvg with Yahoo chief executive office Carol Bartz on the possibility of Western New York landinbgthe center. Yahoo, through its site selectiojn team, has also been working with localo economicdevelopment agencies, including and the . The Verizojn deal is considered one of the key linchpins inthe pitch. The , last month, approved an allocationj of 15 megawattsof low-cost power for The allocation could save the company $100 million over the 15-yeafr abatement period. “Yahoo and Verizon have accelerated negotiations and I am happhyto say, knock on that it looks like they are getting closee to an agreement,” Schumer said.
At issue is how much Verizon want tocharge Sunnyvale-based Yahoo (NASDAQ:YHOO) for a “last transmission line that would connect the data center with the telecommunicationas company’s existing high-speed network infrastructure. Yahoo officialsd say the fees are too high while Verizo counters that chargesare necessary, Verizon is also seeking a long-term pact with Yahoo to cover the costs. Yahoo is considering three Western New York sitez forthe 190,000-square-foot data center that coulsd employ as many as 125 people.
Earlietr this week, the approved plans for a 30-acrwe site in the Lockport Industrial Park for the Yahoo is scouting locations inotherf states, including Pennsylvania and Illinois, and has not committed to wherse the center will be constructed. Yahoo’s board of directors may pick a site in Schumer said Thursday he called Verizon chief executives officer Ivan Seidenberg asking for his Afterthe call, both sides agreed to accelerate Schumer said.
“We have workedr too hard and come too closde in our efforts to bringYahoo — and the hundreds of constructionb and permanent jobs that it would provide — to Wester New York to let the deal be derailec at the last Schumer said. “A complex deal in a difficult economi c climate often leads to a situation in which pressurez arerunning high, making it hard for both partiess to get to yes. Afted discussing the ‘last mile’ issue with both it is clear to me that a deal can be The data center would be constructecd intwo phases, with the first in the 108,000-square-foot The jobs created in the centefr are expected to pay between $50,00 and $65,000 annually.
Schumer has been workinvg with Yahoo chief executive office Carol Bartz on the possibility of Western New York landinbgthe center. Yahoo, through its site selectiojn team, has also been working with localo economicdevelopment agencies, including and the . The Verizojn deal is considered one of the key linchpins inthe pitch. The , last month, approved an allocationj of 15 megawattsof low-cost power for The allocation could save the company $100 million over the 15-yeafr abatement period. “Yahoo and Verizon have accelerated negotiations and I am happhyto say, knock on that it looks like they are getting closee to an agreement,” Schumer said.
Wednesday, January 11, 2012
Fred
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The Memphis-based discount retailer reportecd salesof $134.7 million for May, down 6 percent compared to sales of $143.4 milliobn in May 2008. These numbers includr Fred’s (NASDAQ: FRED) closing 74 underperforming storex and23 pharmacies. Excluding those stores, Fred’s saleds increased 1 percent comparesd tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of the company reported total sales of $593.1 million, down 2.4 percenyt compared to $607.
7 million for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percent compared to the same four-montj period last year. On a comparable store basis, year-to-date salesx increased 2.1 percent compared to 2.4 percentf last year. Fred’s opened one new pharmacy in May. Fred’s operatess 666 discount merchandise stores, including 24 franchised storew nationwide. Shares closed down 12 cents to $14.2 2 per share Wednesday.
The Memphis-based discount retailer reportecd salesof $134.7 million for May, down 6 percent compared to sales of $143.4 milliobn in May 2008. These numbers includr Fred’s (NASDAQ: FRED) closing 74 underperforming storex and23 pharmacies. Excluding those stores, Fred’s saleds increased 1 percent comparesd tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of the company reported total sales of $593.1 million, down 2.4 percenyt compared to $607.
7 million for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percent compared to the same four-montj period last year. On a comparable store basis, year-to-date salesx increased 2.1 percent compared to 2.4 percentf last year. Fred’s opened one new pharmacy in May. Fred’s operatess 666 discount merchandise stores, including 24 franchised storew nationwide. Shares closed down 12 cents to $14.2 2 per share Wednesday.
Monday, January 9, 2012
Dan Snyder stays at Six Flags under reorganization - Houston Business Journal:
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Six Flags is also seeking a $600 milliohn loan, secured by its and $150 million in a new revolvingcreditg line. The company’s executive retention plan would keep Snyder as board membe rand chairman. Mark Shapiro, currently chievf executive, as well as chief financial officer Jeffreyt Speed and several other top management would also stay on inexecutivwe roles. Six Flags, which announced its Chaptefr 11 bankruptcy filing overthe weekend, listecd $2.4 billion in debt and $3 billiojn in assets. It hopes to cut debt by $1.8 billion and wipe out more than $300 millio n in preferred stock.
Snyder and his management team, who took control of the themer park operator three and a halfyearws ago, have not been able to return the company to despite increasing attendance and selling several parksa to raise capital last year. The company reporteed a $146 million first quarter loss. Six Flags has said its reorganizationj will not affect park operations and its vendors and employees will continu e tobe paid. Six Flags 20 themde parks includein Largo.
Six Flags is also seeking a $600 milliohn loan, secured by its and $150 million in a new revolvingcreditg line. The company’s executive retention plan would keep Snyder as board membe rand chairman. Mark Shapiro, currently chievf executive, as well as chief financial officer Jeffreyt Speed and several other top management would also stay on inexecutivwe roles. Six Flags, which announced its Chaptefr 11 bankruptcy filing overthe weekend, listecd $2.4 billion in debt and $3 billiojn in assets. It hopes to cut debt by $1.8 billion and wipe out more than $300 millio n in preferred stock.
Snyder and his management team, who took control of the themer park operator three and a halfyearws ago, have not been able to return the company to despite increasing attendance and selling several parksa to raise capital last year. The company reporteed a $146 million first quarter loss. Six Flags has said its reorganizationj will not affect park operations and its vendors and employees will continu e tobe paid. Six Flags 20 themde parks includein Largo.
Saturday, January 7, 2012
Dish Network wins stay of contempt order in TiVo case - Portland Business Journal:
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“We are pleased that the Federal Appealss Court in Washington temporarily stayec thedistrict court’s order in the Tivo litigation,” said Dish Networ in a written statement. “Dishn Network customers can continus usingtheir DVRs. We believe that we have strong groundfor appeal.” A jury in an east Texas U.S. District Courtt found in 2006 that DVR softwars in DishNetwork set-top boxes violated patents of Calif.-based TiVo covering DVR playback like the ability to pause and rewind live programming whil e the DVR continues to record.
Dish Network reprogrammedx millions of its DVRs after the verdict witha “workaround” it said removed any infringingv software. But TiVo claimed Dish Network’s software “workaround” continuecd the old patent violation and succeeded Tuesday in winning the contempt verdict from the Texas The contempt order upped the previous financial penalty to Dish Networmby $103 million. The contempt order listed totak damages and interest award due to TiVoat $192. 7 million. That total includes $105 million Dish Networkm alreadyhas paid. It has another $27 million in escrow for TiVo, according to Securities ExchangeCommission filings.
“We are pleased that the Federal Appealss Court in Washington temporarily stayec thedistrict court’s order in the Tivo litigation,” said Dish Networ in a written statement. “Dishn Network customers can continus usingtheir DVRs. We believe that we have strong groundfor appeal.” A jury in an east Texas U.S. District Courtt found in 2006 that DVR softwars in DishNetwork set-top boxes violated patents of Calif.-based TiVo covering DVR playback like the ability to pause and rewind live programming whil e the DVR continues to record.
Dish Network reprogrammedx millions of its DVRs after the verdict witha “workaround” it said removed any infringingv software. But TiVo claimed Dish Network’s software “workaround” continuecd the old patent violation and succeeded Tuesday in winning the contempt verdict from the Texas The contempt order upped the previous financial penalty to Dish Networmby $103 million. The contempt order listed totak damages and interest award due to TiVoat $192. 7 million. That total includes $105 million Dish Networkm alreadyhas paid. It has another $27 million in escrow for TiVo, according to Securities ExchangeCommission filings.
Thursday, January 5, 2012
His racial views exposed online, Maine reporter swiftly fired - Press Herald
disadvantage-unlimited.blogspot.com
His racial views exposed online, Maine reporter swiftly fired Press Herald "There is something poetic about the fact that the same system that allows this individual to express their opinion also allows somebody else to expose those opinions," Benton said Wednesday. Parsell himself represented something new to Maine. ... |
Tuesday, January 3, 2012
Volumes shrink for YRC Worldwide, other trucking companies - Kansas City Business Journal:
tenamup.wordpress.com
Compared with the prior-year period, April truck tonnages fell 13.2 percent, the largest drop in 13 the ATA said. “While most key economic indicatords are decreasing at aslower rate, the year-over-year contractionsd in truck tonnage accelerated becauser businesses are right-sizing their inventories, which means fewer truck shipments,” ATA Chief Economist Bob Costello said in the “The absolute dollar value of inventories has fallen, but salews have decreased as much or more, which mean s that inventories are still too high for the current level of sales.
Until this correctiojn is complete, freight will be tough for motor His prediction that the bottom may not come for a few more monthes bodes poorly for companies such asOverlandf Park-based YRC (Nasdaq: YRCW), which lost $257.4 million in the firsr quarter and has been laying off workers and selling property. Many trucking companies have closec their doors in a freight recession that has lastedc more than two Longbow Research analyst Lee Klaskoqw recently hosted a conference callwith Costello, who said truckin g will not be a leading economic indicatot as in the past but may be a laggingt indicator this time, accordingh to a Thursday note.
“If the truckingg industry is in fact notan early-cycle secto r this time around, then the markeft has gotten ahead of itself and truckingv stocks should be due for a in our view,” Klaskow Around 2:30 p.m. YRC shares were trading at $2.53, down about 2 A year ago, YRC shares closed at YRC ranks No. 2 on the Kansaws City BusinessJournal ’s list of area public
Compared with the prior-year period, April truck tonnages fell 13.2 percent, the largest drop in 13 the ATA said. “While most key economic indicatords are decreasing at aslower rate, the year-over-year contractionsd in truck tonnage accelerated becauser businesses are right-sizing their inventories, which means fewer truck shipments,” ATA Chief Economist Bob Costello said in the “The absolute dollar value of inventories has fallen, but salews have decreased as much or more, which mean s that inventories are still too high for the current level of sales.
Until this correctiojn is complete, freight will be tough for motor His prediction that the bottom may not come for a few more monthes bodes poorly for companies such asOverlandf Park-based YRC (Nasdaq: YRCW), which lost $257.4 million in the firsr quarter and has been laying off workers and selling property. Many trucking companies have closec their doors in a freight recession that has lastedc more than two Longbow Research analyst Lee Klaskoqw recently hosted a conference callwith Costello, who said truckin g will not be a leading economic indicatot as in the past but may be a laggingt indicator this time, accordingh to a Thursday note.
“If the truckingg industry is in fact notan early-cycle secto r this time around, then the markeft has gotten ahead of itself and truckingv stocks should be due for a in our view,” Klaskow Around 2:30 p.m. YRC shares were trading at $2.53, down about 2 A year ago, YRC shares closed at YRC ranks No. 2 on the Kansaws City BusinessJournal ’s list of area public
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