As NATO Draws Down, Afghans Fear A Brain Drain NPR "A lot of people who have left some pretty nice jobs in some great NGOs where they were able to build their skills and really contribute, they're struggling, they can't find anything," says Rowell. "Bottom line, there will be a hit, and that hit has ... |
Friday, June 29, 2012
As NATO Draws Down, Afghans Fear A Brain Drain - NPR
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Thursday, June 28, 2012
Helix Energy to reduce Cal Dive stake - Silicon Valley / San Jose Business Journal:
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The Houston-based offshore energy compant plans to offer 20 million shares in Cal Dive through a public offerintgat $8.50 per share, with an option for underwriters to purchase an additional 3 million shares to cover over-allotments. Helix HLX) also has agreed to sell Cal Dive anadditional $14 million worth of shares at a priced equal to the Houston-based Cal Dive (NYSE: DVR) has 94 milliojn shares outstanding. When the offering closes and Cal Dive repurchasexits allocation, Helix’s ownership in Cal Dive will be reduce to 25 percent from 51 percent, according to a regulatorgy filing with the .
If the over-allotment optiojn is not exercised, Helix’s ownership will be 28 Helix expects to use the proceede for generalcorporate purposes. Helix shares closecd at $11.25 on Friday and were trading at $11.92 mid-morninb Monday, while Cal Dive shares closed Fridayat $10.09 and were tradinyg at $9.85 mid-morning on Monday.
The Houston-based offshore energy compant plans to offer 20 million shares in Cal Dive through a public offerintgat $8.50 per share, with an option for underwriters to purchase an additional 3 million shares to cover over-allotments. Helix HLX) also has agreed to sell Cal Dive anadditional $14 million worth of shares at a priced equal to the Houston-based Cal Dive (NYSE: DVR) has 94 milliojn shares outstanding. When the offering closes and Cal Dive repurchasexits allocation, Helix’s ownership in Cal Dive will be reduce to 25 percent from 51 percent, according to a regulatorgy filing with the .
If the over-allotment optiojn is not exercised, Helix’s ownership will be 28 Helix expects to use the proceede for generalcorporate purposes. Helix shares closecd at $11.25 on Friday and were trading at $11.92 mid-morninb Monday, while Cal Dive shares closed Fridayat $10.09 and were tradinyg at $9.85 mid-morning on Monday.
Tuesday, June 26, 2012
AC business booming in record-high heat - WHDH-TV
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WHDH-TV | AC business booming in record-high heat WHDH-TV BOSTON, Mass. -- For the second day in a row, people outside for just a few minutes were forced to search for relief. That meant finding shade, some cold water ... |
Monday, June 25, 2012
Samsung Galaxy S III gets rooted prior to release - MobileSyrup.com
Dishwashers
MobileSyrup.com | Samsung Galaxy S III gets rooted prior to release MobileSyrup.com MobileSyrup is an independent resource on mobile technology in Canada - connecting to those who are mobile enthusiasts, professionals and shoppers. |
Sunday, June 24, 2012
Exxon ordered to pay $507.5M in spill case - South Florida Business Journal:
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million in punitive damages plus interest to plaintiffz affected by the Exxon Valdez oil spill that impacted residentxs and businesses living along the coast of Alaskin 1989. The made its ruling Monday afterf the case was sent back fromthe . At appellatwe level, justices were chargede with determining interest and appellatecourtf costs. The Ninth Circuit confirme d the punitive damage amount afterthe U.S. Supreme Court determines compensatory damages and punitive damages should be assesseds usinga 1-to-1 ratio.
In its latest decision, the Nintg Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsiblde for $507 million in punitive damages and must pay interesgt on the judgment at the rateof 5.9 percent datinhg back to 1996, when the initiapl judgment against the company was first issued by a jury. The federao case against Exxon Mobil has been languishinfg for more thana decade. The Ninthj Circuit said both sides will cover theitown attorney’s fees. The original jury verdict against Exxon Mobilwas $5 an amount that has been reducedr by 90 percent durinh the more than 10 years of litigation, accordingv to court records.
An Exxon Mobik spokesman said Monday, "We are aware that the opinion has been issued and will review the opinion beforecommenting further."
million in punitive damages plus interest to plaintiffz affected by the Exxon Valdez oil spill that impacted residentxs and businesses living along the coast of Alaskin 1989. The made its ruling Monday afterf the case was sent back fromthe . At appellatwe level, justices were chargede with determining interest and appellatecourtf costs. The Ninth Circuit confirme d the punitive damage amount afterthe U.S. Supreme Court determines compensatory damages and punitive damages should be assesseds usinga 1-to-1 ratio.
In its latest decision, the Nintg Circuit confirmed that Irving-based Exxon (NYSE: XOM) is responsiblde for $507 million in punitive damages and must pay interesgt on the judgment at the rateof 5.9 percent datinhg back to 1996, when the initiapl judgment against the company was first issued by a jury. The federao case against Exxon Mobil has been languishinfg for more thana decade. The Ninthj Circuit said both sides will cover theitown attorney’s fees. The original jury verdict against Exxon Mobilwas $5 an amount that has been reducedr by 90 percent durinh the more than 10 years of litigation, accordingv to court records.
An Exxon Mobik spokesman said Monday, "We are aware that the opinion has been issued and will review the opinion beforecommenting further."
Friday, June 22, 2012
Thursday, June 21, 2012
Wanted on Craigslist: California IOUs - Los Angeles Business from bizjournals:
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"Will pay cash for California/IOUs" read one Daly City posting on the onlineclassifiex service. "I pay $$$ for California registere d warrants - $9999," reads another. The Financial Times also reportxthat Second-Market, a company that specializes in tradinvg illiquid assets such as privatde company stock and bankruptcy claims, is getting readg for a peice of the action. "We have a wholed team working on it," it quotes the firm'ss CEO, Barry Silbert, as saying. Wall Streetf hedge funds, municipal bond investorsd and other institutions are all expectee to be interested inthe bonds, as well, which have a 3.75 percentt interest rate that matures on Oct. 2.
States Controller John Chiang has said he plans to issudenearly $3.4 billion in IOUs. After hedging most of last a number of banksincluding , , , , , and . The IOUs became necessary after the California Legislature by the end of thefiscalo year. By not resolving the issue by the end of thefisca year, the budget hole automatically grew to $26. 3 billion, state finance officials say.
"Will pay cash for California/IOUs" read one Daly City posting on the onlineclassifiex service. "I pay $$$ for California registere d warrants - $9999," reads another. The Financial Times also reportxthat Second-Market, a company that specializes in tradinvg illiquid assets such as privatde company stock and bankruptcy claims, is getting readg for a peice of the action. "We have a wholed team working on it," it quotes the firm'ss CEO, Barry Silbert, as saying. Wall Streetf hedge funds, municipal bond investorsd and other institutions are all expectee to be interested inthe bonds, as well, which have a 3.75 percentt interest rate that matures on Oct. 2.
States Controller John Chiang has said he plans to issudenearly $3.4 billion in IOUs. After hedging most of last a number of banksincluding , , , , , and . The IOUs became necessary after the California Legislature by the end of thefiscalo year. By not resolving the issue by the end of thefisca year, the budget hole automatically grew to $26. 3 billion, state finance officials say.
Tuesday, June 19, 2012
Health care
ofycagvezi.blogspot.com
Representatives of , say the construction is necessary to meet growinb patient demand and will offer a cheaper alternativre to emergency room orinpatient care. But criticd see the expected surge in new buildingsx and equipment as amedical “armz race” that will drive up None of the North Shorde projects — which will all be online by next summer — required the state’sz Determination of Need approvakl process. But the surge raised a red flag, prompting legislators this year to pass a law reassertintg state oversight for hospital capital spending on outpatienf construction projectsworth $25 million or more.
“The , if they coulde turn back the clock three orfour years, probably woulfd not have allowed the kind of expansion goinv on,” said Robert Fanning, former CEO of NHS, the Beverly-based hospitak group whose new outpatient facilityh will compete with Lahey and “It may be good for health care in the North Shor (in the short term) but it is goingb to end up being very expensive at the end of the Paul Dreyer, director of the Department of Publi Health’s , which handles the oversight process, said he’sz aware of the Nortyh Shore situation and has heard arguments on both “How those play out will depencd on the facts,” he said.
Partners is buildin the $140 million Massachusetts General/ in Danversz on Endicott Street. Set to open next the 122,00-square-foot center, workinvg with Partners’ in Salem and Lynn, will houswe both expanded general outpatient servicez and a biggercancer center. An adjoininfg 80,000-square-foot medical office building is also part ofthe plan. NSMC Presidenyt Robert Norton said the construction is necessar y because the biggest growth in hospital care is on theoutpatienf side. Norton also insists he sees plentty of roomfor “There’s been plenty of business to go around in the Nortj Shore for many, many years and as long as I can see in the he said.
The center, builgt in a prime location easily seen fromRoute 128, is just acroszs town from Northeast Health System’s $30 millioj ambulatory care facility on Maple Street in Danvers. Northeast Healtyh System CEO Stephen Laverty would not comment. will give Partners easy access to patient s who might have avoided trips along often cloggede roads aroundthe system’s Salem and Lynn Lahey Clinic is well undefr way with a $50 million expansion at its , in an old bank buildinvg at Northshore Mall. Easily seen from Rout 128, the project will add another 65,000 square feet, to be readyg by next May. Lahey senior vice president Robertf Schneider acknowledgescompetitive risks.
But he said Lahey’s main focue is accommodating existing demand. Whatevedr the reason, rapid health care construction ultimately riskw drivingup costs, said Jarret t Barrios, who runs the . “Unchecked expansionm of health care services results in an increased numbert ofunnecessary procedures, particularly in the specialth fields,” he said. That is a worryg echoed by Fanning. “If more technology will be used more Fanning said, “the end result for the businesse community on the North Shorre is increased health care
Representatives of , say the construction is necessary to meet growinb patient demand and will offer a cheaper alternativre to emergency room orinpatient care. But criticd see the expected surge in new buildingsx and equipment as amedical “armz race” that will drive up None of the North Shorde projects — which will all be online by next summer — required the state’sz Determination of Need approvakl process. But the surge raised a red flag, prompting legislators this year to pass a law reassertintg state oversight for hospital capital spending on outpatienf construction projectsworth $25 million or more.
“The , if they coulde turn back the clock three orfour years, probably woulfd not have allowed the kind of expansion goinv on,” said Robert Fanning, former CEO of NHS, the Beverly-based hospitak group whose new outpatient facilityh will compete with Lahey and “It may be good for health care in the North Shor (in the short term) but it is goingb to end up being very expensive at the end of the Paul Dreyer, director of the Department of Publi Health’s , which handles the oversight process, said he’sz aware of the Nortyh Shore situation and has heard arguments on both “How those play out will depencd on the facts,” he said.
Partners is buildin the $140 million Massachusetts General/ in Danversz on Endicott Street. Set to open next the 122,00-square-foot center, workinvg with Partners’ in Salem and Lynn, will houswe both expanded general outpatient servicez and a biggercancer center. An adjoininfg 80,000-square-foot medical office building is also part ofthe plan. NSMC Presidenyt Robert Norton said the construction is necessar y because the biggest growth in hospital care is on theoutpatienf side. Norton also insists he sees plentty of roomfor “There’s been plenty of business to go around in the Nortj Shore for many, many years and as long as I can see in the he said.
The center, builgt in a prime location easily seen fromRoute 128, is just acroszs town from Northeast Health System’s $30 millioj ambulatory care facility on Maple Street in Danvers. Northeast Healtyh System CEO Stephen Laverty would not comment. will give Partners easy access to patient s who might have avoided trips along often cloggede roads aroundthe system’s Salem and Lynn Lahey Clinic is well undefr way with a $50 million expansion at its , in an old bank buildinvg at Northshore Mall. Easily seen from Rout 128, the project will add another 65,000 square feet, to be readyg by next May. Lahey senior vice president Robertf Schneider acknowledgescompetitive risks.
But he said Lahey’s main focue is accommodating existing demand. Whatevedr the reason, rapid health care construction ultimately riskw drivingup costs, said Jarret t Barrios, who runs the . “Unchecked expansionm of health care services results in an increased numbert ofunnecessary procedures, particularly in the specialth fields,” he said. That is a worryg echoed by Fanning. “If more technology will be used more Fanning said, “the end result for the businesse community on the North Shorre is increased health care
Monday, June 18, 2012
JJ Hooks Easily Passes Demanding Crash Tests - MarketWatch (press release)
stages-paddocks.blogspot.com
JJ Hooks Easily Passes Demanding Crash Tests MarketWatch (press release) The anchored J-J Hooks design (dubbed J-J Hooks/MASH) incorporates an enlarged J-Hook, additional reinforcing to absorb the higher impact loads, and ... |
Saturday, June 16, 2012
No-hitters mark statistical anomaly, not a trend - San Francisco Chronicle
ibitasony.wordpress.com
No-hitters mark statistical anomaly, not a trend San Francisco Chronicle Another Year of the Pitcher? Ask Ervin Santana , Luke Hochevar and Tim Lincecum . Ask the Rockies' rotation, which sports a 6.26 ERA. Matt Cain threw a ... |
Friday, June 15, 2012
Nixon, Quinn push Biden, LaHood for high-speed rail - Washington Business Journal:
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In April, Nixon and Quinn, along with six othetr Midwestern governors, to LaHood askingv him to support plans for rail corridors between citiesd intheir states, including St. Louisd to Chicago and St. Louisx to Kansas City. Illinoiw has completed an environmental impact statement forthe Chicago-St. Louia corridor. “Missouri and our partnerd states in the already have a competitive advantagse because we have been working on this rail initiativr for more thana decade,” Nixon said in a statement after the “I reiterated our strong position to Vice Presidengt Biden today while we discussed the viability of high spee rail corridors.
” The White House and the have said they woulc from the American Recovery and Reinvestment Act, and $1 billiomn a year for five years as a down paymenrt to develop a passenger rail system. The other governorzs at the meeting were Jim Doyle of Jennifer Granholmof Michigan, Tim Kaine of Deval Patrick of Massachusetts, Sonnty Perdue of Georgia and Ed Rendell of Pennsylvania.
In April, Nixon and Quinn, along with six othetr Midwestern governors, to LaHood askingv him to support plans for rail corridors between citiesd intheir states, including St. Louisd to Chicago and St. Louisx to Kansas City. Illinoiw has completed an environmental impact statement forthe Chicago-St. Louia corridor. “Missouri and our partnerd states in the already have a competitive advantagse because we have been working on this rail initiativr for more thana decade,” Nixon said in a statement after the “I reiterated our strong position to Vice Presidengt Biden today while we discussed the viability of high spee rail corridors.
” The White House and the have said they woulc from the American Recovery and Reinvestment Act, and $1 billiomn a year for five years as a down paymenrt to develop a passenger rail system. The other governorzs at the meeting were Jim Doyle of Jennifer Granholmof Michigan, Tim Kaine of Deval Patrick of Massachusetts, Sonnty Perdue of Georgia and Ed Rendell of Pennsylvania.
Thursday, June 14, 2012
ZINO Society Targets Medical Devices, Healthcare IT and Diagnostics - MarketWatch (press release)
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ZINO Society Targets Medical Devices, Healthcare IT and Diagnostics MarketWatch (press release) About ZINO SocietyZINO Society is a community of angel investors, entrepreneurs and connectors that propels emerging businesses to success through active ... |
Tuesday, June 12, 2012
EU exec helps with legal advice in Greek scenario discussions - Chicago Tribune
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HispanicBusiness.com | EU exec helps with legal advice in Greek scenario discussions Chicago Tribune BRUSSELS (Reuters) - The European Commission is helping with legal advice in discussions of contingency scenarios regarding Greece by the Euro group Working Group, a Commission spokesman said on Tuesday. "I've not said that I'm not aware of any ... EU Admits to 'Scenarios' for Greek Euro Exit EU states seek advice on Greece exit scenarios EU: movement of money, people can be limited |
Monday, June 11, 2012
How Habana got the magic back - iAfrica.com
adepylex.blogspot.com
Telegraph.co.uk | How Habana got the magic back iAfrica.com Veteran wing Bryan Habana has recaptured his electric form of old in recent weeks after being ordered to back himself by Bok mentor Heyneke Meyer. Habana was devastating out wide when he played for Meyer at the Bulls, but since his move to the Stormers ... Springboks Give Meyer a Winning St art |
Saturday, June 9, 2012
Whataburger eying more growth after move to San Antonio - San Antonio Business Journal:
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This summer, Restaurants LP will move its headquarter from Corpus Christi to the 300 Concorde Plaza office buildingalong U.S. Highwahy 281 North and Jones Maltsberger Road in Northb CentralSan Antonio. Initially, 300 Concord will house approximatelyu 250Whataburger employees, according to Pam Cox of the corporatd communications division of Whataburger. But over the next thre e to five years, that number is expected to increasde to morethan 300, she “… We have planned for growth withim each of the departments and saved spaces for future Whataburger family members,” she explains. “Onc e we are fully we expect tohave 300-plus peopls in the building.
” All told, approximately 15 departmente will move into 300 Concordd — including payroll, human resources, marketing and innovation, and informatiom technology, Cox adds. Whataburger’s existing divisioh office here will also move to the new headquartere buildingas well. At present, that office is located at the Brookholloe Office Parkat 1006-1046 Centra l Parkway South — also in North Centra l San Antonio. Whataburger occupies about 18,000 square feet in the 68,000-square-foof building. The fact that 300 Concordc offered Whataburger room to grow was indeed an attractive featurre of theproperty — one that led the companyg to acquire the asset last month, Cox says.
But the chain was also lookingg to provide a comfortable environment for its including those making the move from Corpus Christio to theAlamo City. “They’re making big changes in thei r lives for our company and we appreciat andrecognize that. This building is … close to qualitgy schools, neighborhoods and other It also has convenient access to 281and (Loop) 410, allowing our family members to choose wheree they want to live and the kind of commutes they want.” Whataburger looked at more than 10 buildingw before deciding on 300 Concord for its new Cox says.
It was a process that involvexd looking at variousalternatives — from rentintg to buying space, recalls Jeff who is a principal with San Antonio’z . Miller represented Whataburget in the 300Concord transaction. Gettintg the deal itself inked was alsoa challenge, Millet says. The previous owner was HDG Mansur — an Indianapolis-based entity that had been leasinhg the property to San Antonio-based oil refiner Tesorok Corp. since 2006. Dealing with thres different firms — HDG Mansur, Tesoro and Whataburgerd — made for “a lot of moving parts,” Mille says.
The work, however, will be well wortyh it — not only for 300 Concord’s new owner but for San Antonipas well. “That is an iconic says Miller, noting that the property is one of the firstf things many see when they fly in toSan “We’ve had a great corporate citizen in it for 10 and now we’ve replaced it with anothe great corporate citizen.” Meanwhile, Tesorop will move to its new corporatw offices this summer — becoming the anchord tenant in the new offices complex Ridgewood Park near the intersection of Highway 281 and Loop 1604 on the city’sz far North Side.
That move could have resulte d in morethan 320,000 square feet of officew space coming back on to the Now, thanks to Whataburger, the amount of vacant spacwe coming back on the market has essentiallyh been cut in half, Miller says. Whataburger’es purchase of 300 Concord is a good bit ofbusinesxs — given the slower business pace of the officew market these days. “Commercial real estate transactionsx are simply taking longer than theyused to, to Miller explains. “Corporations are being very careful with theircapitao expenditures, very cautious and very comprehensive in their analysizs of any new-space acquisitions.
” Of Whataburger’s investment in the Alamoo City, Miller adds: “This is the firsrt significant-sized deal of the year. We need to see more of thesee transactions before any level of market stablityis
This summer, Restaurants LP will move its headquarter from Corpus Christi to the 300 Concorde Plaza office buildingalong U.S. Highwahy 281 North and Jones Maltsberger Road in Northb CentralSan Antonio. Initially, 300 Concord will house approximatelyu 250Whataburger employees, according to Pam Cox of the corporatd communications division of Whataburger. But over the next thre e to five years, that number is expected to increasde to morethan 300, she “… We have planned for growth withim each of the departments and saved spaces for future Whataburger family members,” she explains. “Onc e we are fully we expect tohave 300-plus peopls in the building.
” All told, approximately 15 departmente will move into 300 Concordd — including payroll, human resources, marketing and innovation, and informatiom technology, Cox adds. Whataburger’s existing divisioh office here will also move to the new headquartere buildingas well. At present, that office is located at the Brookholloe Office Parkat 1006-1046 Centra l Parkway South — also in North Centra l San Antonio. Whataburger occupies about 18,000 square feet in the 68,000-square-foof building. The fact that 300 Concordc offered Whataburger room to grow was indeed an attractive featurre of theproperty — one that led the companyg to acquire the asset last month, Cox says.
But the chain was also lookingg to provide a comfortable environment for its including those making the move from Corpus Christio to theAlamo City. “They’re making big changes in thei r lives for our company and we appreciat andrecognize that. This building is … close to qualitgy schools, neighborhoods and other It also has convenient access to 281and (Loop) 410, allowing our family members to choose wheree they want to live and the kind of commutes they want.” Whataburger looked at more than 10 buildingw before deciding on 300 Concord for its new Cox says.
It was a process that involvexd looking at variousalternatives — from rentintg to buying space, recalls Jeff who is a principal with San Antonio’z . Miller represented Whataburget in the 300Concord transaction. Gettintg the deal itself inked was alsoa challenge, Millet says. The previous owner was HDG Mansur — an Indianapolis-based entity that had been leasinhg the property to San Antonio-based oil refiner Tesorok Corp. since 2006. Dealing with thres different firms — HDG Mansur, Tesoro and Whataburgerd — made for “a lot of moving parts,” Mille says.
The work, however, will be well wortyh it — not only for 300 Concord’s new owner but for San Antonipas well. “That is an iconic says Miller, noting that the property is one of the firstf things many see when they fly in toSan “We’ve had a great corporate citizen in it for 10 and now we’ve replaced it with anothe great corporate citizen.” Meanwhile, Tesorop will move to its new corporatw offices this summer — becoming the anchord tenant in the new offices complex Ridgewood Park near the intersection of Highway 281 and Loop 1604 on the city’sz far North Side.
That move could have resulte d in morethan 320,000 square feet of officew space coming back on to the Now, thanks to Whataburger, the amount of vacant spacwe coming back on the market has essentiallyh been cut in half, Miller says. Whataburger’es purchase of 300 Concord is a good bit ofbusinesxs — given the slower business pace of the officew market these days. “Commercial real estate transactionsx are simply taking longer than theyused to, to Miller explains. “Corporations are being very careful with theircapitao expenditures, very cautious and very comprehensive in their analysizs of any new-space acquisitions.
” Of Whataburger’s investment in the Alamoo City, Miller adds: “This is the firsrt significant-sized deal of the year. We need to see more of thesee transactions before any level of market stablityis
Friday, June 8, 2012
Recovery Act boosts venture capital - Washington Business Journal:
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The changes, which were implemented Friday, will affectr the ’s Small Business Investment Companyy program. “The Recovery Act expands SBA’s venture-capita program to increase the pool of investment fundingt available to the Small Business Investmen t Companies licensedby SBA,” said SBA Administrator Kare Mills. “We believe those companiex will be better equippee by these changes to help sustain and grow smalp businesses for their next important growth Small Business Investment Companiesd are privately owned andmanaged venture-capitakl firms licensed and regulated by SBA.
They use a combinationb of funds raised from private sources and money raised through the use of SBA guaranteese tomake equity- and mezzanine-capital investments in smalo businesses. There are approximately 338 Small Busines s Investment Companieswith $17.4 billion in capita l under management. The Small Busineszs Investment Companies program was created in 1958 to stimulate the growthof America’s small businesses by supplementinhg the long-term debt and private-equity capital available to them.
The Recovery Act makes Small Business Investment Companies eligiblse forgreater SBA-guaranteed funding and requires them to invest 25 percent of their investment dollars into “smaller” businesses. the amount of funding a Small Busines Investment Company may invest in a single smalll business is set at 10 percent of a Smalo BusinessInvestment Company’s total capital, rather than the previouss limit of 20 percent of a Smallk Business Investment Company’s private capital This translates to an effective 50 percent increase in funding available to a single business by a Small Businesws Investment Company.
• Maximum SBA funding levelws to Small Business Investment Companies will increase up to three timeas the private capital raised by the Smallk BusinessInvestment Company, up to a maximumj of $150 million for single Small Businesx Investment Companies, or up to $225 million for multipl e companies under common control. The cap for all licensees had been setat $137.1 million before the Recovery Act. • Thesee limits are even higher for Small Business Investmeng Companies licensedafter Oct.
1, 2009, that certify at leasrt 50 percent of their investment s will be made in small businesses locatedin low-incomw areas, up to $175 million for singler licensees and up to $250 milliomn for jointly controlled multipl e licensees. Changes made to the Smallo Business Investment Company program under the Recovery Actare permanent.
The changes, which were implemented Friday, will affectr the ’s Small Business Investment Companyy program. “The Recovery Act expands SBA’s venture-capita program to increase the pool of investment fundingt available to the Small Business Investmen t Companies licensedby SBA,” said SBA Administrator Kare Mills. “We believe those companiex will be better equippee by these changes to help sustain and grow smalp businesses for their next important growth Small Business Investment Companiesd are privately owned andmanaged venture-capitakl firms licensed and regulated by SBA.
They use a combinationb of funds raised from private sources and money raised through the use of SBA guaranteese tomake equity- and mezzanine-capital investments in smalo businesses. There are approximately 338 Small Busines s Investment Companieswith $17.4 billion in capita l under management. The Small Busineszs Investment Companies program was created in 1958 to stimulate the growthof America’s small businesses by supplementinhg the long-term debt and private-equity capital available to them.
The Recovery Act makes Small Business Investment Companies eligiblse forgreater SBA-guaranteed funding and requires them to invest 25 percent of their investment dollars into “smaller” businesses. the amount of funding a Small Busines Investment Company may invest in a single smalll business is set at 10 percent of a Smalo BusinessInvestment Company’s total capital, rather than the previouss limit of 20 percent of a Smallk Business Investment Company’s private capital This translates to an effective 50 percent increase in funding available to a single business by a Small Businesws Investment Company.
• Maximum SBA funding levelws to Small Business Investment Companies will increase up to three timeas the private capital raised by the Smallk BusinessInvestment Company, up to a maximumj of $150 million for single Small Businesx Investment Companies, or up to $225 million for multipl e companies under common control. The cap for all licensees had been setat $137.1 million before the Recovery Act. • Thesee limits are even higher for Small Business Investmeng Companies licensedafter Oct.
1, 2009, that certify at leasrt 50 percent of their investment s will be made in small businesses locatedin low-incomw areas, up to $175 million for singler licensees and up to $250 milliomn for jointly controlled multipl e licensees. Changes made to the Smallo Business Investment Company program under the Recovery Actare permanent.
Wednesday, June 6, 2012
Colorado Center on Law and Policy director leaves for child-advocacy group - Denver Business Journal:
zuloraxelewo.blogspot.com
CCLP Board President T.A. Taylor-Hunt will serve as the Denver-basefd group’s interim director until a permanent directorfis named, and board member Nan Morehead will serve as interim board president, CCLP said CCLP says it “works to secur e justice and promote economic security for all Coloradans, and to providee the critical advocacy formerly provided by federally funded legap services programs.” The Aurora-basede NACC is a nonprofif child advocacy association that providew legal representation for children. “Under Maureen’s direction, ...
CCLP has evolvef into a force for low-income Coloradans,” said Taylor-Hunt said in a “Her departure is bittersweet as she is all but but it is a tremendous opportunitty for her to share her amazingb passion and skills with anotheer organization equally committed to legal advocacy andpolicy work. The move comexs at an exciting time of growth and strengtheningy influence and impact for CCLP and ourprogramm areas.” “Being a part of [CCLP’s] development and growth has been an extraordinary experience,” Farrell-Stevenson said in the “...
But it is time to move
CCLP Board President T.A. Taylor-Hunt will serve as the Denver-basefd group’s interim director until a permanent directorfis named, and board member Nan Morehead will serve as interim board president, CCLP said CCLP says it “works to secur e justice and promote economic security for all Coloradans, and to providee the critical advocacy formerly provided by federally funded legap services programs.” The Aurora-basede NACC is a nonprofif child advocacy association that providew legal representation for children. “Under Maureen’s direction, ...
CCLP has evolvef into a force for low-income Coloradans,” said Taylor-Hunt said in a “Her departure is bittersweet as she is all but but it is a tremendous opportunitty for her to share her amazingb passion and skills with anotheer organization equally committed to legal advocacy andpolicy work. The move comexs at an exciting time of growth and strengtheningy influence and impact for CCLP and ourprogramm areas.” “Being a part of [CCLP’s] development and growth has been an extraordinary experience,” Farrell-Stevenson said in the “...
But it is time to move
Tuesday, June 5, 2012
Legislator wants Nixon to cut stimulus money for Kokam battery plant - Minneapolis / St. Paul Business Journal:
ethelbertdiya3334.blogspot.com
Kokam’s , to be dubbed Summif Battery Park, would employt an estimated 900 peopled with average annual salariesof $40,000. Kokam President Don Nissanka has said he hopes to breakj ground before the end ofthe year, probably at a site of more than 40 acres in the vicinit y of Kokam’s current 50,000-square-foot Lee’s Summit Nissanka was out of the country Monday and couldn’y be reached for Kokam, a startup founded in Octobef 2005, burst into the limelighr this year.
picked Kansas City for an assembly facilityt largely becauseof Kokam’s And with federal stimulus dollars and state money seekinh advanced-battery-makers, a joint venture involving Kokak landed a commitment in April of nearlyg $145 million in incentives from Michiga n to build a battery plant there that’s similar to the one planned locally. The groupp also applied for federalstimulue money. Schaefer, R-Columbia, sent a letter to Nixohn on Thursday proposing that financin g be cutby $11.5 million combined for Kokam’ws Lee’s Summit plant and another battery plant in Joplin to help preservse $31.
2 million in financing for the in which Schaefer called the cornerstone of a $200 million hospitakl project. “Every indication that I’m getting is that intends to veto the money forthe hospital,” Schaefer adding that Nixon’s veto probably would kill the entirer $200 million project. “Spending public fund s on a cancer hospital owned by the citizens of Missourij is always going to win out over givin public funds to a private company for abatteryy plant,” Schaefer said.
“Nobody has told me that the lowe r amount wouldkill (Kokam’s Lee’s Summit) Nixon spokesman Scott Holste said the governor will have an announcementy about the budget bill before June 30, the end of Missouri’z fiscal year. Nixon and his staff have been reviewintg the budgetbill “line by line to determine what the state can Holste said, and they want to keep centralp services in place. Jim Devine, CEO of the l, said he thoughy Schaefer’s proposal was “not as serious” a threat as the EDC firs t thought, “but you never know in The EDC issued a releasew Friday encouraging Nixon to keep the Kokam plant’s financing fully in place.
Kokam’s , to be dubbed Summif Battery Park, would employt an estimated 900 peopled with average annual salariesof $40,000. Kokam President Don Nissanka has said he hopes to breakj ground before the end ofthe year, probably at a site of more than 40 acres in the vicinit y of Kokam’s current 50,000-square-foot Lee’s Summit Nissanka was out of the country Monday and couldn’y be reached for Kokam, a startup founded in Octobef 2005, burst into the limelighr this year.
picked Kansas City for an assembly facilityt largely becauseof Kokam’s And with federal stimulus dollars and state money seekinh advanced-battery-makers, a joint venture involving Kokak landed a commitment in April of nearlyg $145 million in incentives from Michiga n to build a battery plant there that’s similar to the one planned locally. The groupp also applied for federalstimulue money. Schaefer, R-Columbia, sent a letter to Nixohn on Thursday proposing that financin g be cutby $11.5 million combined for Kokam’ws Lee’s Summit plant and another battery plant in Joplin to help preservse $31.
2 million in financing for the in which Schaefer called the cornerstone of a $200 million hospitakl project. “Every indication that I’m getting is that intends to veto the money forthe hospital,” Schaefer adding that Nixon’s veto probably would kill the entirer $200 million project. “Spending public fund s on a cancer hospital owned by the citizens of Missourij is always going to win out over givin public funds to a private company for abatteryy plant,” Schaefer said.
“Nobody has told me that the lowe r amount wouldkill (Kokam’s Lee’s Summit) Nixon spokesman Scott Holste said the governor will have an announcementy about the budget bill before June 30, the end of Missouri’z fiscal year. Nixon and his staff have been reviewintg the budgetbill “line by line to determine what the state can Holste said, and they want to keep centralp services in place. Jim Devine, CEO of the l, said he thoughy Schaefer’s proposal was “not as serious” a threat as the EDC firs t thought, “but you never know in The EDC issued a releasew Friday encouraging Nixon to keep the Kokam plant’s financing fully in place.
Sunday, June 3, 2012
Landlords opt for flexibility - Charlotte Business Journal:
authors-morphology.blogspot.com
In a real estate market where supplt is up and demandis down, some property ownersz are looking for ways to markeg space to companies wary of being tied down to a long-termj lease. Real estate investment firm , for has launched a “risk-free leasing that allows tenants to exit theier leases within the first 18 months ofa 36-montjh lease with no penalty. The progran is for 35 Class-B spaces the firm has and the spaces comeas is, meaning no improvements from the In addition, Eola pays out any brokerage commissiojn on such deals in segments in case the tenant leaves early. Bryan Howell, regional vice presiden for Eola, says the firm is working on four such dealsrighft now.
He says the prograk grew out of conversationswith would-bse entrepreneurs, including some coming from Charlotte’a downsizing banks. They’re looking for more than an executivew suite but are concerned aboutthe long-termj viability of their businesses. “We thought if we just playeed 2009, it wasn’t going to give the businessesw enoughbreathing room,” Howell says. By 18 months, “eitheer they’ve figured it out and they’re successful, or they’ve played their plan out.” According to Karnes Researcjh Co., the Charlotte market’s office vacancyg rate increasedto 13.9% in the first up from 13.4% at the end of 2008.
The average asking rental rate in the marketf dipped slightlyto $22.34 per squarwe foot from $22.38 per square foot at year end. Davids Dorsch, a vice president at , says the hesitancuy among tenants to committo long-term leases untill they feel more confident is leading to a numbefr of “blend and extend” dealw with landlords. Business owners are talking to their landlordsz and trying to negotiate a lowefr rental rate or reduce the size of their office In exchange, landlords are seeking to tack some time on that lease to prevent a vacancy over the next 24 “Since they don’t really know what their P&oL is going to look like in 24 they’re not very prone to go out therre and do a seven-year Dorsch says.
“They’re talking to their landlorcd now and trying to getlower rent, give spaces back, something to that effect.” Keith president of brokerage firm , says more tenantsz are likely to ask for termination options in their lease as they negotiat e for office space. Companies are less certain abouyt the future of certain operations amid the recession and want to keep alloptionx open, he says. “Everybody’s lookinyg for an exit plan if he says. With vacancy rates expected to continue climbingv over the next year or 18 the pressure on landlords to accommodate tenant demands willlikely increase, says Chase a partner with .
That could mean more leasint arrangements designed to give companiezthe “breathing room” they desire as they managw through a terrible economy. “Flexibilith in today’s world is key,” Monrode says.
In a real estate market where supplt is up and demandis down, some property ownersz are looking for ways to markeg space to companies wary of being tied down to a long-termj lease. Real estate investment firm , for has launched a “risk-free leasing that allows tenants to exit theier leases within the first 18 months ofa 36-montjh lease with no penalty. The progran is for 35 Class-B spaces the firm has and the spaces comeas is, meaning no improvements from the In addition, Eola pays out any brokerage commissiojn on such deals in segments in case the tenant leaves early. Bryan Howell, regional vice presiden for Eola, says the firm is working on four such dealsrighft now.
He says the prograk grew out of conversationswith would-bse entrepreneurs, including some coming from Charlotte’a downsizing banks. They’re looking for more than an executivew suite but are concerned aboutthe long-termj viability of their businesses. “We thought if we just playeed 2009, it wasn’t going to give the businessesw enoughbreathing room,” Howell says. By 18 months, “eitheer they’ve figured it out and they’re successful, or they’ve played their plan out.” According to Karnes Researcjh Co., the Charlotte market’s office vacancyg rate increasedto 13.9% in the first up from 13.4% at the end of 2008.
The average asking rental rate in the marketf dipped slightlyto $22.34 per squarwe foot from $22.38 per square foot at year end. Davids Dorsch, a vice president at , says the hesitancuy among tenants to committo long-term leases untill they feel more confident is leading to a numbefr of “blend and extend” dealw with landlords. Business owners are talking to their landlordsz and trying to negotiate a lowefr rental rate or reduce the size of their office In exchange, landlords are seeking to tack some time on that lease to prevent a vacancy over the next 24 “Since they don’t really know what their P&oL is going to look like in 24 they’re not very prone to go out therre and do a seven-year Dorsch says.
“They’re talking to their landlorcd now and trying to getlower rent, give spaces back, something to that effect.” Keith president of brokerage firm , says more tenantsz are likely to ask for termination options in their lease as they negotiat e for office space. Companies are less certain abouyt the future of certain operations amid the recession and want to keep alloptionx open, he says. “Everybody’s lookinyg for an exit plan if he says. With vacancy rates expected to continue climbingv over the next year or 18 the pressure on landlords to accommodate tenant demands willlikely increase, says Chase a partner with .
That could mean more leasint arrangements designed to give companiezthe “breathing room” they desire as they managw through a terrible economy. “Flexibilith in today’s world is key,” Monrode says.
Saturday, June 2, 2012
Hawaiian Telcom opposes buyout offer - Austin Business Journal:
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Sandwich Isles filed a motion earlier this month to submi a competing Chapter 11 reorganizatioh plan forHawaiian Telcom. In it, the Honolulu-basef company offered to buy Hawaiian Telcom’s assetds using $250 million in cash and $150 milliom in debt that would be issued by Hawaiian UntilJune 30, Hawaiian Telcoj has so-called “exclusivity” in filin a reorganization plan. The company wants to extend that exclusivitto Sept. 30 as it gets votes on a proposef plan it filedJune 3. Sandwich Isles has filed an objectiobn tothat extension, and Hawaiian Telcom’s latest filing defendx the request.
“Asking the courft for help in promotinga low-ball offer for Hawaiiab Telcom’s businesses is not a recipe for success in bankruptcy Hawaiian Telcom said in the filing. Sandwich a company founded in 1995 to take advantage of government subsidies that pay for the installationj of broadband cable inrural areas, had said in its motio that Hawaiian Telcom refused to consider its offer. But, Hawaiian Telcomm says it analyzed and rejectedr the offerin May, for eight reasons listed in the filing.
It cited Sandwich Isles’ lack of committed financing, lack of federal and state licenses to operatwe inurban areas, and lack of experience and abilitu to operate a full-service communications Hawaiian Telcom said it stands behinc its proposed reorganization plan to reduce the company’xs debt by nearly $790 million, from $1.1 billiob to $300 million. Sandwich Isles’ motion also claimes Hawaiian Telcom has notmade good-faithj progress in its bankruptcy case sincwe filing for Chapter 11 protection in In defending that claim, Hawaiian Telcom’s chief operating officer Kevin Nystrom said the company has contacted “dozens of strategix and financial purchasers.
” The company said it pursuedc a potential buyer, whom it did not identify, but that after two months of talks no offere was made. Nystrom said Hawaiian Telcom also askedits “equity sponsor” -- its majority owner, of D.C. -- about a standalone reorganization and also discussed standalone restructuring options with its bondholderw andsecured lenders.
Sandwich Isles filed a motion earlier this month to submi a competing Chapter 11 reorganizatioh plan forHawaiian Telcom. In it, the Honolulu-basef company offered to buy Hawaiian Telcom’s assetds using $250 million in cash and $150 milliom in debt that would be issued by Hawaiian UntilJune 30, Hawaiian Telcoj has so-called “exclusivity” in filin a reorganization plan. The company wants to extend that exclusivitto Sept. 30 as it gets votes on a proposef plan it filedJune 3. Sandwich Isles has filed an objectiobn tothat extension, and Hawaiian Telcom’s latest filing defendx the request.
“Asking the courft for help in promotinga low-ball offer for Hawaiiab Telcom’s businesses is not a recipe for success in bankruptcy Hawaiian Telcom said in the filing. Sandwich a company founded in 1995 to take advantage of government subsidies that pay for the installationj of broadband cable inrural areas, had said in its motio that Hawaiian Telcom refused to consider its offer. But, Hawaiian Telcomm says it analyzed and rejectedr the offerin May, for eight reasons listed in the filing.
It cited Sandwich Isles’ lack of committed financing, lack of federal and state licenses to operatwe inurban areas, and lack of experience and abilitu to operate a full-service communications Hawaiian Telcom said it stands behinc its proposed reorganization plan to reduce the company’xs debt by nearly $790 million, from $1.1 billiob to $300 million. Sandwich Isles’ motion also claimes Hawaiian Telcom has notmade good-faithj progress in its bankruptcy case sincwe filing for Chapter 11 protection in In defending that claim, Hawaiian Telcom’s chief operating officer Kevin Nystrom said the company has contacted “dozens of strategix and financial purchasers.
” The company said it pursuedc a potential buyer, whom it did not identify, but that after two months of talks no offere was made. Nystrom said Hawaiian Telcom also askedits “equity sponsor” -- its majority owner, of D.C. -- about a standalone reorganization and also discussed standalone restructuring options with its bondholderw andsecured lenders.
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