Ladish earnings drop 80 percent - The Business Journal of Milwaukee:

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Ladish (NASDAQ: LDSH) said net income for the first quarter dropperto $1.2 million, or 8 cent s per share, compared with $6 million, or 41 cents per for the same period the year before. Net saled for the jet engine, aerospace and industrial marketas supplierdropped 9.8 percent to $105.7 millionh from $117.2 million. Ladisj president and CEO Kerry Woody said the declines in results reflects the decline in demand in the majorityh ofthe company's markets. Results were also hurt by a $2.9 millio decline in by-product sales, a $1.
1 million increasre in pension expense, an $800,000 charge for employmentg reductionsand separations, a $600,000 increase in depreciation, and $400,00 in added interest. However, Woodh said that demand for helicopter componentz remains strong and that the compan y generatedapproximately $14 million in free cash flow in the first allowing it to reduce short-term debt by more than $10 Cudahy-based Ladish has operations in Wisconsin, California, Connecticut, Oregon and Poland.

Express Scripts files suit against Intel - St. Louis Business Journal:

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The letter, dated April 30 and includexd in thelawsuit filing, states that Express use of the Intellact name is likel y to “deceive or confus consumers” as to the source of the services and “suggesyt some affiliation with Intel that does not exist.” In its suit files May 22, Express Scripts claims that such confusion is not likelg since Express Scripts provides pharmacy benefit management services and Intelp is in the semiconductor chip business.
Accordingh to the suit, Intel claims that it owns all rightsx to names that contain the root of theword However, the has issued more than 100 trademarks for namees that contain the term “Intel” in some the suit states. Express Scriptds alleges that Intel “does not own exclusivs right” to use the term “Intel” as a component of a trademarked name. Express Scripts, a pharmac y benefits management firm with its headquarters on the campu ofthe -St. Louis, is being represented in the suit by Ameefr Gadoof . A companyt spokeswoman said the company does not comment onpendinfg legislation.
Express Scripts, led by Chairman, President and Chief ExecutiveGeorg Paz, reported $21.98 billion in revenue in 2008. Santqa Clara, Calif.-based Intel had $37.6 billion.

Commercial to dominate Laguna Ridge - Sacramento Business Journal:

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Under the new vision of the project, Laguna Ridge Town Cente r -- proposed for 155 acres along Elk Groved Boulevard west of Highway99 -- would consisrt of stores, restaurants, high-density housing, a civi center, offices and a medical It would also entail changes in the ownership of the with some major players gettinv in and one cash-strapped developer gettingv out. is negotiating to buy 52 acres withih the project on whicjh to build stores andsome offices, the compan confirmed this week. , parenyt company of local Mercy hospitals, is in escrow to buy 30 acrezs on Elk Grove Boulevard between Brucevilled Road and Big Horn Boulevardc for a hospital and othermedical buildings.
One of the sellers in both of thoses dealsis , whichy faces lawsuits and financial pressure on severall fronts. The company owns abouy one-third of the 155-acre project and is lookinv tounload it. Both the Panattonui and CHW deals depenr on the city of Elk Grove allowing some of the Laguna Ridge Town Centere land to be switched from housinvg tocommercial use. The Elk Grove Planning Commission on Thursday will hear public comments on a draft environmentalk report forthe mixed-use project, but take no The commission is tentatively scheduled to hold a publicc hearing June 5 and to send the projecg to the City Council for a June 25 meeting.
Less more shopping The city will be asked to allow more of the 95 acrez on Elk Grove Boulevard between Brucevillr Road and Big Horn Boulevard to be designatedas "shoppinb commercial" -- about 80 acrees zoned for retail, up from 58 Medical offices are permitted withijn the shopping commercial zone. Some of that extrs space for retail and medical would come through eliminating 11 acresz set asidefor single-family homes and 13 acred for medium-density housing. The acreage earmarked for multifamiluy housing would grow by less thanan acre, to almos t 16 acres.
The project comes beforwe the city in astagnant economy, when Elk Grovee has more houses and stores than it can Homebuilders have pulled on the reind for new projects; about 350 housee have been built from among the more than 7,7090 approved for the 1,900-acre Laguna Ridge area. Nationalk retailers are slow to commit to new and much new retail is already in the workws south of this site with thePromenade open-air mall under construction and surrounding shoppin centers proposed.
Big national retailers, still want and need to line up site s for when the economy The Laguna Ridge TownCente site's strengths include its location in the heartr of Elk Grove and the potential for additionalk housing to support the center, and the new mall to the soutn might draw in more shopping traffic to the Panattoni has made "substantial progress" with "four or five" major retailerds interested in spaces within Lagunq Ridge Town Center, said Gary who oversees Panattoni's retail development in Northern California. He wouldn't say whether that meant the company has inked dealsor not. he said, are still "looking to make deals.
" Some have slowefd down and aremore selective, but they'red still planning new stores. With the city'sx OK, Panattoni would anticipate building 400,000 square feet to 600,000 square feet of big-box stores to small shopas plus some offices on its 37 acre s west of and 15 acres east of the CHW The earliest Panattoni would break ground islate 2009, Muljatr said. Developer Craig whose family partnership owns 60 acres in the thinks the town center would be built in phasee overseveral years. "Retailers today aren't acting as fast as they were a couplsyears ago," he but they're expressing strong interest as long as they can get a good "This is an location.
" Laguna Ridge Town Center might benefit from slowere than expected retail development at sites around the Elk Grove Promenade open-air said Boyd Cahill, a retail broker with TRI Commercial/Corfac Internationa l in Roseville. Depending on the timing for Lagunas Ridge, some retailers may commit to the town centefr projectthat don't want to wait for development around the open-air mall. Convertinh some of the housing land for shopping commercial makes sense because Laguna Ridge is an idea l location forCHW -- close to Highwa y 99, in the heart of the city and eventuallgy a neighbor to the city's plannedx civic center -- said Gary Parker, president of land development for Reynen & Bardis Communities.
The city and landownersd in Laguna Ridge bega n envisioning the town center plan in 2005 with the idea of graduallgy coming up withspecific designs. The hope was that landowners coulf create acohesive mixed-use project together rathet than working separately. The Laguna Ridgew Town Center property is split amonghseveral owners. Among them: Reynen & Bardis, whicy owns 45 acres; 18 would go to CHW and about 10 to with the remainder sold to a multifamilyhousing , which owns land on the far easternn side of the proposed town center The city, which a coupler years ago was given 20 acresw toward the middle of the site for a civi c center that still must be designed and The city hasn't set a timelines for developing the civic said Jessica Shalamunec, the city's special projects manager.

Fidelity companies name new board members - Washington Business Journal:

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Lender Processing Services Inc.'s (NYSE: LPS) shareholders approvexd Marshall Haines andJames K. Hunt as directors on the board to servse a three year term untipMay 2012. Haines is a principal at TarrantPartners LP, a venture fund affiliatex with Texas Pacific Group. Hunt is CEO and chieft investment officer of THL CreditGroupo LP, a credit affiliate of Thomazs H. Lee Partners LP. Thomass H. Lee's affiliates were the equity investorr in the current acquisition of MetavanteTechnologies Inc. (NYSE: MV) by Fidelity Nationa InformationServices Inc. (NYSE: FIS). The investor has also been involvexd in other Fidelity family mergeresand acquisitions.
LPS' shareholders also approved its 2008 omnibusx incentive plan and its annual incentive which were approved last year by the shareholders of FIS befor thecompany spun-off LPS. "We had a very soli year in a year with a lot of in particular, in the mortgage said LPS' president, CEO and a director, Jeffrey The company had a 10 percent increased to $1.9 billion in revenue in 2008. Adjustesd pro forma net earningsincreased 4.3 percenf to $230.7 million during the same Carbiener said the consolidation of dominant lenders, such as Wellxs Fargo & Co. acquiring Wachoviw Corp., as well as new entrants like PennyMacv Mortgage, helped LPS' financial results in 2008.
The companyt also built more business from creating toolds and services to help financia institutions with the regulatory and loan modification Fidelity NationalFinancial Inc.'s shareholders approved Fran k P. Willey and Willie D. Davis to a threse year term on its boars endingin 2012. Both men servec as directors on the board after the oldFNF spin-offg in October 2005. Willey is also vice chairman of the company and was presidentr and vice chairman on the board of theformer FNF. Daviw is president and directorof All-Pro Broadcasting Inc.
, a California-based holdinf company that operates radio The title insurer (NYSE: FNF) had a net loss of $179 milliojn in 2008 compared with a net income of $130 milliobn the previous year. FNF's CEO Alan Stinsonh said the net lossof $12.4r million in the first quarter included severao one-time charges largely due to other "Without those, we would have been profitable," he Stinson said the company is in the process of reducintg its staff by 10 percent at Ceridian a human resource services provider that FNF acquiredx in 2007. The company had 8,7766 employees at the end of 2008.
FNF is also looking at ways to dispos of some of the propertied it has at CascadeTimberlands LLC, Stinson said. Fidelitty National Information Services' shareholders approved previous directorWilliam P. Foley, Thomas M. Hagerty and Keith W. Hughes for a three-year term untiol 2012; and Richard N. Masseyu for a two-year term until 2011. Foley is also executivre chairman of the board and held the same positionat LPS' boardd from May 2008 to March 2009. Hagerty is a managing directof ofThomas H. Lee Partners. Hughes is a consultant for domestic and international financial services institutiona and was previously vice chairman ofCitiGroup Inc.
Massey is a foundinv partner of private investment firm West RockCapitap LLC. FIS met and in many instanceds exceeded its guidancefor 2008. The companyy had an adjusted earnings per shareeof $1.49 in 2008 with an origina guidance of $1.44 to $1.50 per "It was an outstanding year by any measurement," said FIS presidengt and CEO Lee Kennedy. The acquisition of Metavants is also moving along and is expectexd to close in thethird quarter, Kennedgy said. "The combination of Metavantde and FIS will createthe world¹s largest and most comprehensivwe set of products and services to the financial industry," he said.
All threre companies approved KPMG LLP as the independentr registered public accounting firmfor 2009.

In down economy, pawn shops strike gold - Dallas Business Journal:

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For one woman, a longtime customer, the visit to this East Side pawn shop was precipitatedf by a recenttraffic ticket. She handed over two ringss in exchangefor $150, with a promis e she’d be back to pick up her jewelry when she coule repay the loan and 3 perceny monthly interest. Others just found themselvex shortbetween paychecks. “Between working and needinhg to getquick cash, this is the best way legally,” says Patrick Merriweather, who admitted he had spentg beyond his means and came in to pick up a braceleg he had previously pawned. Merriweather’s necklace remainedr locked upin Prudential’s safe, as he continuezs to pay on that separate loan.
“Thed economy right now sucks in Buffalo,” he says. “This helpse a lot.” Pawn shops have filledf a needfor short-term fundse at low interest rates for centuries. A handfupl of shops can be found in Western New with at least two in business forseveral Nationwide, these shops are experiencing a surge in busines s from both repeat customers and first-timers sufferinfg in a tight economy. The has nearly 2,40o members nationwide, serving “middle class, workingt families who periodically experience an unexpectefd needfor short-term funds.” The averags customer, according to the association, is 36 years old and has a householdr income of $29,000.
The average loan is $75 offeredx at 20 percent for 30 to 60 InNew York, the maximum allowable interestr on a pawn is 4 percent. Why would someones visit a pawn broker? The association says it is convenienc e and fast turnaround that appealo tomost customers. There’s also no credit checkl or legal consequences if a loan is notrepai – just the forfeiture of the collaterapl item. Nathaniel Barker, a longtim customer at Prudential, recalls bringing jewelry back and fortyh from the Broadway shop repeatedly over the past30 years.
who sells clothes for a sayshe doesn’t buy jewelruy from anyone but Prudential – partly because he knowds he is guaranteed a 50 percent loan on those items, or at least his purchase prics back on a “It’s a quick and easy way to get cash when you need he says. Brian Schmid, the fifth generation of his family torun Prudential, works at the store with his Bill. The store, he says, has been buying and sellingb gold and other jewelry fordecadesz – long before the currentt fad of gold parties and selling gold for Pawning offers an alternativre to selling.
Schmid assesses the piece firsg for condition and then makesan offer, with a highed value offered on buys. If the customerf chooses a loan, she has six months to repag the collateral loanwith “Things have been steadily increasing,” he says. “We’ver always had a good flow every day, regardless of the economty – whether it be pawning or selling,” Schmids says. “But everything has been amped up with the statee of the economy and the state of gold pricess over thelast six, seven months.” Located insider a former bank building, Prudentiall has the look of an upscaled jeweler, though a thick wall of glase separates customers from employees.
Everything is allowing for faster tracking of interest owed and background infoon “A lot of people have the perceptionm that pawn shops are a shady business, but short-term it’s a betterr deal than a credit card,” says Bill Schmid. “People will say, ‘In six months, I hope to be in better shape’. For a lot of it’s an insurance policy.” Another option for thosde short on cash isthe buy-and-sell, whichg operates a little differently, offering cash with no promise an item will be available when the custome has the cash to come back for it.
in Niagars Falls is located inside a renovaterd house onPine Avenue, with loud signsa outside hawking jewelry, video games, antiques, car audio bikes – just about Ruben Longoria, who opened the business nine yearws ago, says business is good: He just opened his thirxd store nine months ago in nearby Wheatfield. “They’re selling whatever they he says. “That’s all you They need gas money, food money, medicine Diamond Enterprises, a Niagara Falle pawn shop, continues to see its regular customers just tryingf to get through themonth - as well as newcomerw hit hard by job losses and pay says Steve Huett, store “A lot of people are desperate to pay their billse in any manner they can,” he says.
“Wew have some people that come in to pawn something just tobuy That’s bad.”

Winds continue to fuel Cudahy fire - San Francisco Business Times:

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Cudahy Mayor Ryan McCue also urged all businessesd in the city to reducr water usage and called on residents of the neighboring communityof St. Franciws to conserve water. “We are running short on McCue said. More than 8.5 million gallonz of water had been used by in an attemptt to douse a fire in one of the buildings that make up the Patrick Cudahy meat processing comple at OneSweet Apple-Wooe Lane, just off of Layton Mayor Ryan McCue said at a 3:30 p.m. presd conference at Parkview Elementary School, 5555 S. Nicholson within site of the huge plumez of smoke billowing fromthe plant.
The city of Milwauke also has allowed Cudahy to tap into its wate r supply to aid in fighting thestubborn blaze, McCue said. The fire fighting effort has been expanded to include 130 firefighters from 27 he said. “The fire continues to flare McCue said. “The wind has not been our Also, 75 law enforcement officers are on patrop inthe city. McCue declared a state of emergency earlier in the day and indicated at that time that the Nationa Guard could be called in to patrolcity However, Cudahy Police Chief Thomase Poellot said the city, along with assistance from other communitiese and the state, has “adequate” resources to keep the city safe as firefighterzs continue to battle the “We don’t anticipate needing the National Guard,” he

Inside the matchup: Patriots at Broncos - Boston.com

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Bleacher Report

Inside the matchup: Patriots at Broncos Boston.com Patriots Contain and Tackling vs. QB Tim Tebow - The way to defend a mobile quarterback like Tebow is to use contained rushes, meaning applying pressure wide of the pocket and forcing Tebow to stay in it. The Patriots will need to do this to keep Tebow ... Tim Tebow: Divine Revelation or Poor Tackling Bleacher Report Too much b »

Bombino fined $40K for illegal crop shipments - Kansas City Business Journal:

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Bombino Express imported 34 packages of Indian mangoes and yams that werelabeledd “ladies apparel” through Los Angeleds International Airport in July. Airpory dogs discovered the packages and officials confiscatefthe shipment. Federal and stated laws ban importing of untreated mangoes and yams from which can be infested withnumerous crop-damaging including the devastating Oriental fruit fly. “Invasive pestws are a primary threat toour crops, and keeping them out of Californiq is vital to the security of our food supply and the stabilit y of our agricultural California Department of Food & Agriculture secretary A.G. Kawamurs said in a news release.
Bombinoo will pay $40,000 in civil penalties, and face a $1.6 millio penalty if it violatesthe agreement, according to the agreemenrt with the Attorney General and CDFA. Agriculture officialsd say the Oriental fruit fly could costthe state’d millions of dollars in crop eradication efforts and quarantine “It’s critical that imported produce be properly inspectex to avoid devastating and costly pest infestations,” Attorneuy General Jerry Brown said Monday.

Of the Cuff - Nashville Business Journal:

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Bill Hawkins President | Chas. Hawkinws Co. Inc./ CORFAC International | 615-345-7220 Commercial real estats has not taken a vacationthis summer. Leasingt activity in most sectors hasbeen steady. Which area will be the hottest? I would have to say that industria "big box" development in the 840/Couchville Pike commercial retail in Murfreesboro and and general commercial growth in Mountg Juliet and Lebanon arethe "go-to" locations. Despite the national trends of a weakening economy and the residentiao realestate correction, commercial businesd is still strong.
Michelld Kang Affiliate broker | Coldwell Banker Commercial Professionalse | 615-550-0082 The Cool Springzs area is still one of the best areas in Middles Tennessee for newcommercial development. With Nissaj and other headquarters relocating to that existing and new developments will do welltherr -- especially properties like shopping centers and mixed-use properties. Brentwoodc and Cool Springs combined have more rentabl office spaces than downtown Nashville and peopl prefer to work close to where they Murfreesboro is another area in Middle Tennessee boominf for newcommercial developments. A good examplwe is the new Gateway Centetin Murfreesboro.
Retail and mixed-used propertiee are still great properties to develol inthis area. Jay Turnerr Management director | MarketStreet Enterprises | 615-846-4910 Downtown Nashviller claims two ofthe region'sx most promising districts for new development. The with its central location and mix of retail andcommercial properties, has seen momentum intensify with the shiftinvg national attention to sustainable development. Rather than requiring new infrastructure, it is environmentallyu friendly and fiscally sound to reclaim underutilized arease where infrastructurealready exists.
The same can be said of Downtown's riverfronft area, which holds similar development potentiao and stands to be one ofthe city's treasures, one which developers and resident alike can embrace. Anne Shockley Broker and principaol | The Trendex Group Inc. | 615-383-5544

Global retail provides investment opportunities - South Florida Business Journal:

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For the fourth time in five years, that countrgy is considered the most attractive for retail accordingto ’s annual Global Retail Developmeng Index, which looks at retailp investment attractiveness in 30 emerging "With economic conditions in developed markets improving so slowly, emergingy markets are becoming much more important sourcezs of growth for global retailers," said Hana Ben-Shabat, A.T. Kearne partner and co-leader of the study, in a news Russia, China, the United Arab Emirates, Saudk Arabia, Vietnam, Chile, Brazil, Slovenia and Malaysiaw round outthe index’s 2009 top 10 As home prices decline and consumersa keep tight hold of their purse strings in the U.
S., global expansion is becominb more important as a strategy for growth, accordinbg to the global managementy consulting firm. Low inflation and rent reductionws of up to 40 percentin tier-2 and tier-3 citieds also help make India the most attractive retaipl investment destination, the report notes. Meantime, retails sales in Russia are projectesd to grow 15 percent a year over the next five while in Chinaa $585 billiobn stimulus package and efforts to boost economic consumption are showingg early signs of success, as retailo sales have grown in early 2009, the report noted.

Corker: Chrysler, GM should reimburse auto dealers - South Florida Business Journal:

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Sen. Bob Corker, R-Tenn., introduced the Auto Dealerws Assistance Amendment yesterday in the SenateBankinyg Committee. The amendment would also give dealerships 180 days to wind downtheier operations. “We continue to received assurances from Chrysler and GM that theirr dealers across Tennessee and across our country will betreaterd fairly,” Corker said in a “We filed this amendment to apply pressure on the automaker to keep their word to rejected dealerships and fully reimburse them for thei inventories of vehicles and We hope Chrysler and GM will take thes appropriate actions and make this amendment unnecessary.
” Chrysler and GM told Congress earlier this year that they need to reducse their dealer networks to cut costs. However, Corker’s statement said dealershipss have beengiven “inconsistent treatment.” Some Chryslerr dealerships, the statement said, have been forcerd to shut down in less than 30 days and are responsiblew for selling their inventories. GM dealers, Corker have been given longer contract but face similar challenges in reimbursement for parts and The amendment would force the automakerzs to use any Treasury funds whilw in bankruptcy to reimburse their dealers for all parts and inventor y on the date of thebankruptcy filing.
the proposal would not allow Chryslerf or GM toget debtor-in-possession funding unless such agreementz provide for the reimbursement of the dealers.

Accounting firm will help college student balance the books - Birmingham Business Journal:

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Established three years ago in honor of its 25th SolSchwartz & Associates will offer the annual $2,50 0 award until it totals $25,000. The scholarship recognizesx students foracademic achievement, economic and leadership initiative. “The Sol Schwartz Associates Accounting Scholarship Award supportsour firm’s proudr tradition of community involvement, with a strongf emphasis on education,” Managing Shareholder Jeff Albrecht To qualify, students must be a juniodr or senior and be an accounting major. Deadline for applications is Oct. 31. The recipienr will be notified no laterthan Nov. 28.
One recipienrt per year will receive $1,250 per semesterr for a total of $2,500 for one school year. Proof of registration is required. Visit www.ssacpa.com for an The ninth annual shoppinhg extravaganzais here. From Oct. 24 to Nov. 2, patrons holding a Cancer Center Council Partners Shopping Card can shop at over 325 participatinf retailers and receive 20 percent off their purchases. Included in the mix are localo andnational retailers, spas, gift boutiques, restaurants and other businessexs in the San Antonio area. Proceeds from the card salesx will help fundthe ’z Multidisciplinary Breast Cancer Center. To purchasew a card, call 450-5571, or visit www.cancercentercouncil.net.
World-renowned and two-tim gold medalist Ming-Jiang Zhu is coming to San Antonio fora first-evere U.S. exhibit on Nov. 12. He will be exhibitiny his works from6 p.m. to 9 p.m. at Antoniko Strad Violin, 10288 San Pedro. Zhu is considerefd to be in the top 5 percent of violinn makers in theworld today. He createxs instruments in the tradition of 17th centuryItalian masters, such as Antonio Stradivarius. For more e-mail renes@stradviolin.com. The Humane Societgy SPCA of Bexar County is offering caniner owners an opportunity to spend quality time withtheir four-legged The organization is once again hosting its Mutt Strutrt 3-mile Fun Walk. This year’ds event will be held on Nov.
22 at the Humane Society, 4804 Fredericksburg Road. The walk begines at 10 a.m., followed by a K9 Karnivao from11 a.m. to 4 p.m. The Karnival will feature contests, music from radio stations KJ 97, 101.9 and as well as refreshments and All proceeds benefit theHumane Society. For more information, call

Progress Software makes $68M bid for Texas software firm - Boston Business Journal:

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Neon (Nasdaq: NEON) has its headquarters in Sugar Land, and last reported having 90 It is to join the unit ofProgressd (Nasdaq: PRGS), which sellw software drivers that connect databases. Neon sales chief Jerryh Paladino held the same position at DataDirect priorrto Progress' $87 million acquisition of the company two year ago. Progress' offer of $6.20 in cash for each sharee of Neon represents a 43 perceng premium overthe issue's closing price Monday. In its fiscal seconf quarter ending Sept. 30, Neon had a $725,000p profit on $6 million in revenue. The company closed the quarte with $16.5 million in cash and investments.
In the fourthh quarter, Progress earned $14 million on $108 milliojn in sales, its highest quarterlyt revenue ever. For the fiscall year ending Nov. 30, Progress had net incoms of $49 million on sales of $405 The year before, it earnee $39 million on $363 million in revenue. Progress expects fiscapl first quarter revenuebetween $103 million and $105 million, and earningx between 15 cents and 17 cents on a per-share In the same period a year ago, it earnecd 23 cents per share on $98 milliomn in revenue. For fiscal 2006, Progress predicts revenues between $435 million and $445 and earnings between 85 cents and 91 cents per Itearned $1.18 per share in fiscal 2005. Progressx spent $2.
4 million during the quarter to buy back sharee ofits stock, and finished the quartere with $266 million in cash and short-term

Clifton Gunderson selects Wauwatosa as new headquarters - The Business Journal of Milwaukee:

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McMasters is a partner in the Wauwatosa office at 10001 Innovatiohn Drive in the Milwaukee County Research She took over the management reins of the company Monday. Very few employees from Clifton Gunderson’s former headquarters in Peoria, will be transferred to the Wauwatosa office, said Jen a spokeswoman for firm who islocally based. Clifton Gundersojn currently occupies 27,500 square feet of office space at theResearcbh Park, and may be in the markegt to expand its offices eventually, said The company employs 130 professionalx in Wauwatosa and 230 at the Peoris office, its largest in the nation. The accounting firm’s professional staff totals morethan 2,000 in 45 U.S.
-baser offices. Clifton Gunderson has 10 officesin

Transparency International says corruption key in triggering Arab Spring protests - Washington Post

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Yonhap News

Transparency International says corruption key in triggering Arab Spring protests Washington Post A movement for greater transparency took on greater momentum in 2011 forcing leaders and bureaucracies to “heed the demands for better government,” Transparency International said in its annual corruption perceptions index that scored 183 countries ... Transparency International: Taiwan's CPI score continues to improve eTaiwan News Transparency International perceptions survey: Corruption in Israel drops to ... Ha'aretz New Zealand Seen As Most Transparent Country In 2011 Index W »

Maggie Daley celebrated, then laid to rest - Chicago Tribune

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ABC News

Maggie Daley celebrated, then laid to rest Chicago Tribune ... Cultural Center and passed City H »

5 Who Thrive: Aloha Salads grows by staying true to its mission - Pacific Business News (Honolulu):

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The signature salad dressings are among the reasons forthe company’sa success. Aloha Salads continues to despite the weak and is expected to gross morethan $1 million this year. A third location is set to open in Juneat , followerd by another in the by October. There are pland to franchise AlohaSalads nationally. And a California food group has agreed to bottle four of the six salard dressings forretail distribution. The success is due to a number of They open stores onlyin high-profile locations and form businessx partnerships with trusted people. They also stick to their core which is toserve quick, healthy foodse using local ingredients.
Now theirt goal is to expand strategically in anticipatio n ofthe economy’s rebound in 2010. “We have to continue reinventintg ourselves to keep things fresh for customers and attractnew customers, as well,” Chris “We’re not going to rush in. We’re goin to make sure we make the right decisionsmoving forward.” Careful growth has been the company’as philosophy from the In December 2004, after seven years away from the Lufranos returned to Hawaii from where she was a patent lawyer and he worked in For more than a they scouted potential store locations on Oahu and experimented with recipe s at Sara’s parents’ home in Kahala.
The couplde opened their first Aloha Saladz in May 2006 ina 440-square-foot space in the , usinb personal capital and a $50,000 loan guarantees by the U.S. Small Business The company’s creative salads — “Aloha Mediterranean,” “Maui and “The Goddess” — instantlhy drew loyal customers. One customer was local contractor Freddie owner ofBEK Inc., whose buildingv credits include Waikiki DFS Galleria, Neiman Marcus and Tony Auto-plex. He strucmk up a friendship with the Lufranos and two years latee helped designAloha Salads’ secondx location in .
The mall which opened in March 2008, briefly experienceds a double-digit drop in sales aftedr health-food chain Whole Foods openedd nearby latelast year. Salexs have climbed since then but are slightly below Chris said. Franco, now an equal partner in the provided the capital to build the Kapolei location set to opennext “Kapolei should be really good because there’s nothing out there,” he said. “We’vs been getting lots of calls askingwhen we’re going to buildc in their area.” The 1,200-square-foot store is uniqu in that it will have wine pairings with salads and a mezzaniner level for dine-in Franco said.
As Aloha Salads continuesd to expand, the ability to quickly change menu items to fit tastes will be For instance, roast beef sandwichews that did not sell well in the Kailua store have been replacerd with pastrami sandwiches. Periodically introducing creative menu itemes also is crucialto survival. This month, the Kahalsa Mall location beganserving “design-your-own” omelettes, organiv coffees, fruit bowls and fresh-squeeze juices. The response has been overwhelming, and therd are plans to serve breakfast inother locations. “We realluy care about the food that goes out to Sara said.
“People get used to what they’red eating and don’t realize there coulds be so manygood options.”

Gates Foundation funds manufacturing training at Alamo Colleges - San Antonio Business Journal:

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million grant from the to creat a national skills certification system to raiswe up a manufacturing workforceamong low-income Community colleges throughout the country will participate in teachingv the Manufacturing Skills Certification System — which is endorsedx by the . Alamo Collegesa in San Antonio will be one of the firsft community colleges in the country to implementthis curriculum. These educational programs will help prepare particularly low-income young adults and transitioning workers, with entry-levepl skills needed to succeed in a career in “We need to get kids engaged in learning, and we need to give them says NAM President John “Moving these industry-recognized skills certifications into communit y college programs will provide meaningful, relevantg education for students and ultimately produce a highlyg skilled and mobile workforce – making us more competit ivew in the global economy.
” The Manufacturing Skills Certification Systek will help prepare individualsd for manufacturing careers in a rangwe of fields including alternative computers, aerospace and pharmaceuticals. The Manufacturingf Institute isa 501(c)3 affiliate of the Nationakl Association of Manufacturers. It is based in D.C.

Larijani: Highest rate of human rights violations occurring in US, Canada - Islamic Republic News Agency

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Islamic Republic News Agency

Larijani: Highest rate of human rights violations occurring in US, Canada Islamic Republic News Agency Citing some cases of human rights violations occurring in the West, he said no one could deny the rapid growth of Islomaphobia and neglect the fact that very basic rights of Muslims are regularly denied in western countries. He al so referred to daily ... and more »

Fair Trade importer Alter Eco cultivates growth - Puget Sound Business Journal (Seattle):

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Its from this office that Alter Eco Americasw is bringing Fair Trade and organic goods from acrosas the worldto U.S. grocery stores while trying to make a dent inglobal poverty. The startu has more than quadrupled its revenue over threed yearsto $1.5 million in 2008 by landinf distribution for products such as quinow and jasmine rice in major groceruy chains. One grocer that carries its products isWholee Foods, which has increased its Fair Trades offerings to more than 1,000 products in the last two including Alter Eco’s organi c extra virgin olive oil from Palestine.
“Moree consumers are interested in the stories behinrdtheir food,” said Edouard Rollet, co-founder and chiegf operations officer of Alter Eco Americas, in explainin g the company’s explosive growth. Alter Eco Americas was started in 2004 in San Franciscop as aseparate company, but spun out of Alterr Eco, which was foundedf in France a decade ago to import and distribute goodx from marginalized farmers in countriesw like Bolivia, Peru and Ghana. “Most of them own about one to two acreof land, so there’s betweenm $500 and $800 a year for them and theirr family,” Rollet said. “And the problem is that they don’t have direcr access to markets.
They have to sell to local buyerw who setthe price.” Altetr Eco Americas changed that by promising a fair pricse to groups of farmers that wouldn’t put them into Rollet and co-founder Mathieu Senards opened Alter Eco Americas in 2004 aftere showing some of the company’s product s at a natural food store in Los The two chose San Francisco because of its proximitu to a major port where goods can be shipped from its supplierf countries and to venture capital firmds that could potentially fund the company. The company has raised $750,000 from angel investors, and the foundersw are seeking $1.5 million more.
“It’s also, for naturaol food and specialty food, one of the most pioneerinhg areas ofthe U.S.,” Rollet said. Alte r Eco imports 150 products, including coffe from Peru, Ethiopia and Mexico, cocoa from Ghanz and Bolivia, unrefined sugar from the Philippines, rice from Thailanx and other foods under its Alter Eco Americas has introduced 26 of thosw to theUnited States. Most products carry the Fair Tradew label, which certifies that companies pay their workers fair wages and providwe decentworking conditions, among other things.
It buys its producta from small farmers organizedinto co-opws and sells to 1,800 grocery stores across the country, including Andronico’s, Rainbow Whole Foods and other specialty food stores like New Leaf Grocergy in Santa Cruz. Alter Eco Americas also offset the carbon emissions for the life cycle of the Payingfair wages, offsetting the carbon emissionxs and requiring products to meet organic standards squeezes margins. “In the we’re competing against brands that don’t have the same said Senard. “We have to be competitively priced even thoughg we pay ourfarmers more.
” Rollet said reaching $5 millionh in revenue will help ease some of the margib pressure, something he aims to do over the next severalo years. Still, the company is committed to doingv theright thing, said Cate Baril, directoer of business development for Oakland-based Transfaidr USA, which certifies Fair Trade products. “I you were looking for a company that reallyt embodies what FairTrade is, that’s really what Alter Eco is all Baril said. “Some companies buy ingredients from a supplier and make the productzs inthe U.S. Alterf Eco feels like they havea mission, and because of they’re having the food produced where it’s grown.
”

Online gaming seen as cheap entertainment in recession - Washington Business Journal:

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Reston-based (NASDAQ: SCOR) says it found a significan t increase in the size of the gaming audience duringb thepast year, driven in part by the reality of economic challenges. The category attractes 87 million U.S. visitors in May, up 22 percent versuxs year ago. In its report comScore says that Yahoo!! Games ranked No. 1 in the category with 19.4 millio n visitors, representing a 6 percent increase over the past followed by EA Online with 18 millionmvisitors (up 34 percent), Nickelodeon Casual Gamesx with 14.8 million visitors, and WildTangentg Network with 13.8 million (up 16 percent).
GSN Games Networks achieved particularly strong gains in thepast year, growingt 563 percent to 6 milliobn visitors, due primarily to the additionzs of entities such as WorldWinner.coj and CrazyMonkeyGames.com. "Online gaming continues to be one of the top gaininfg categories over the past year growing at ten times the rate of the total U.S. Internet population and reaching nearly one out of ever y twoInternet users," said Edward Hunter, comScord director of gaming solutions. "And the growtuh in the category is occurring not only at the top gamingdestinatioj sites, but also through viral distribution including widgets and applications.
In fact, some onliner gaming companies that distributed their games across sitesz are reaching as many people as the top onlineegaming sites."

FAA pushes regional airline safety - Dallas Business Journal:

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Babbitt said the FAA is callingon U.S. airlinesd to send in specific plans on how they will enhance safety guideline at both regional and major The agency wants the airlines and theidr labor unions to respond byJuly 31. The FAA also said airlinese are now charged with obtaining all pilotr records filed withthe FAA. Babbittt announced earlier in the year that the crash of a flighrt over Buffalo prompted additional discussionx about training and safett compliance within regionalair carriers. On June 15, Babbittf and U.S.
Secretary of Transportation Ray LaHood met with airlined safety executives and pilots unions to discuss ways to reducd risk at regional airlines while promotingv best practices frommajoer airlines. Of the two Metroplex-based airlines, only Fort Worth-based operates a regional subsidiary, . Dallas-based LUV) does not operate a regional subsidiary. Piloy fatigue is a top priority, Babbittg said Monday, and the FAA is working to creater new flight time and rest rulexs that are based on scientific findingse relatedto fatigue.
In addition, FAA inspectore are studying airline procedures for identifyingf pilots that show a need for additional traininy or who have failecertain evaluations, the FAA said. The FAA addedf that it expects airlinese that have contracts with regionalk airlines to develop programs in which safety data is In addition, the FAA askedx carriers to implement a policy to mandate that pilotr applicants release all records held by the FAA to theirt prospective employers during the hiring process.

Lenovo buys Seattle startup, adds former Microsoft VP - Dallas Business Journal:

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Lenovo won’t say how much it paid for , but of course, isn’t unusual. What is different is that Lenovo also won’t talk about what Switchbox Labs other than to say that the compangy deals in consumer products. For its Switchbox has said that it was workingh on new consumer techologies but that its projects were confidential. What is known is that Switchbox’xs co-founders – Michael Sievert, Robert Dickinson and Blaker Ramsdell – have joined Lenovo. Sievert, who will report to Lenovo CEOWilliam Amelio, led Microsoft’es marketing efforts for the launcu of the Windows Vistqa operating system. He left Microsofrt (Nasdaq: MSFT) in 2008.
“Switchbox Labs is doingt some interesting work, and we are pleased that Switchbox and Mike arejoiningv Lenovo,” Amelio said in a statement. The Switchbox purchase is a change of pace from the steady stream of bad news that has been flowinyg around Lenovo inrecent weeks. The companu said earlier this month that it would worldwids in the wake of earnings that failecd to meet ChairmanYang Yuanqing’es expectations. Then a pair of new reportx said that Lenovo had to its competitore in the worldPC market.
Lenovo’s officia corporate headquarters is in Morrisville but the majority ofthe company’s operationsd are in China, where it was founded, and Lenovo stock still trade on the Hong Kong stock exchange. Lenovo came to the Trianglee when it bought the ResearcghTriangle Park-based PC division of IBM in 2005. The companty then landed a lucrative incentives packaged to build a campus in whereabout 1,550 workers will work after the current round of layoffs is completed.

Belk earnings down 90% - Atlanta Business Chronicle:

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million. Revenue fell to $760.9 million in the latest quarteefrom $817.3 million a year earlier. Salea at stores in operatioj for at least a yeardecreased 7.7 percent. The companh cites continued weakness in consumerretail “First-quarter results were in line with our says Tim Belk, chiecf executive. “Although results continue to reflecrt theweakened economy, we have begun to see some stabilization in the operatiny environment, which is positive.” He says the company’s balance sheet remains strong, with more than $250 million of cash at the end of the almost twice the amount of a year earlier.
The department-storre chain opened three stores during the latest quartet in Georgiaand Kentucky. On Aprip 1, Belk’s board approved a self-tendert offer to purchase up to 500,000 sharees of common stock at $11.909 per share. On May 20, Belk acceptee for purchase 241,664 shares of stockj for $2.9 million. Belk is the nation’s largesyt privately owned department-store company. It operates 308 storex in 16 Southern states.

Barrett starts six-year campaign to drop infant mortality rates - Newsradio 620

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Barrett starts six-year campaign to drop infant mortality rates Newsradio 620 MILWAUKEE - Milwaukee's mayor is starting a campaign to turn around the city's infant mortality problem which is biggest among African-Americans. Mayor Tom Barrett told Newsradio 620 WTMJ's "Wisconsin's Morning News" that there are zip ... Milwaukee sets goal to reduce infant mortality Milwaukee Journal Sentinel < p size="-1" class="p">  »

BlackBerry more popular than iPhone in Q1 - Silicon Valley / San Jose Business Journal:

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RIM’s consumer smartphone market shar e increased 15 percent to nearly 50 percent of the smartphond market in the firstt quarter versus thepriodr quarter, as Cupertino-based ’s and Sunnyvale-based ’s (NASDAQ:PALM) sharwe both declined 10 percent each. Port N.Y.-based “Verizon Wireless’s aggressive marketingf of the BlackBerry Storm andits buy-one-get-onr BlackBerry promotion to its large customere base contributed to RIM capturing thred of the top five positions,” said Ross director of industry analysis at The NPD Group.
“Thr more familiar, and less expensive, Curve benefited from thesed giveaways and was able to leapfrog the due to its broader availability on the fourmajoer U.S. national carriers.” Smartphones, whicgh represented just 17 percen t of handset sales volume in the first quarterof 2008, now make up 23 percenyt of sales. “Even in this challenging economy, consumers are migrating toward Web-capable handset and t1eir supporting data plans to accesse more information and entertainment onthe go.” Rubihn said.

MathStar eyes merger with private company - Portland Business Journal:

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The Hillsboro-based fabless semiconductor company (Pink Sheets: MATH), whichj shut down operations more than ayear ago, said it is considerint a merger with a privately-held company that coulds use MathStar’s cash reserves for according to a filing made Frida with the federal Securities and Exchange MathStar said it is also considering a move to restarty operations thanks to an opportunituy to acquire a new video technologyh similar to one previously created by MathStar. MathStatr was once a developer of a promising programmablre semiconductor technology that drew interestfrom high-profil customers such as LG Electronics USA and Arro w Electronics Inc.
But the company shut down its semiconductor operations in May 2008 afterd raisingabout $137 million from investora and never recording a It ended 2008 with a $14.t6 million loss. Investors — including the company’s two largesr shareholders — have been pressuring the companyto liquidate. A prox vote on the issue is scheduled to take plac e atthe company’s annual shareholders meetingv on June 29 in Minneapolis.
MathSta has been opposed to saying it preferred to merge with anothef semiconductor company that could make use ofits $14 milliohn cash balance as of Marchn 31 and $140 million net operating In the SEC filing, MathStar’s board urger stockholders to reject a tender offer made last montb by LLC of $1.14 per share. Besides the company’ss other strategic alternatives, the board said Tiberiuss only wants to acquire 51 percentof shares, the benefit of MathStar’as net operating losses would likely be eliminated in the acquisition, and the offefr is far less than the company’s estimated $1.40 per sharee liquidation value.
Meanwhile, Minnesota-based , which makes buildingv performance software, last week made its fourthy offer for the offering $1.28 per share. MathSta r has previously rejected PureChoice on the groundsw that it prefers merging with anothertsemiconductor company. It seems history will repeat In the SEC MathStar said the unidentified private company it is nowconsiderinv “meets many of the criteria the Boardc set forth earlier regarding potential strategic MathStar shares were unmoved Friday at $1.22 per share.
They have a 52-weeo range between 63 cents and

State gets $77.6 million in ARRA clean water funds - St. Louis Business Journal:

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million in American Recovery and Reinvestment Act funds for state and local governments to finance overdue improvementz tothe state’s clean watedr infrastructure. $56.9 million of the funds will gothe state’sw Clean Water State Revolving Fund program. It provides low-interest loanxs for water quality protection projects forwastewater treatment, non-pointy source pollution control and watershed and estuary management. The Drinking Water State Revolving Fund prograk willget $20.
2 milliom from the EPA for low-interest loans to financw drinking water infrastructure The program focuses on giving funds to small and disadvantaged communities and to program s that encourage pollution prevention as a tool for ensurint safe drinking water. The funds are a portion of $6 billion in ARRA money that will be givenm to fund water and wastewater infrastructure projects across the For more information about acces sthese funds, contact Kara Bells at (404) 562-8322 or belle.kara@epa.gov.

Magic Castle fire: Officials assess damage to historic venue - Los Angeles Times

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FRANCE 24

Magic Castle fire: Officials assess damage to historic venue Los Angeles Times Fire officials are trying assess the damage after a greater-alarm fire ripped through the famed Magic Castle in the Hollywood Hills on Monday. Fire crews said the blaze was contained largely to the attic and w »

DOT working with Aurora Health Care - The Business Journal of Milwaukee:

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The preferred provider status meana workers who are injured will be steered tothe Milwaukee-based healthn system’s Occupational Health during day hours and Aurorqa hospital emergency rooms after “Aurora was the preferres provider for the Marquette Interchange projectg and we were asked to serve in that role againj for these two projects because we did such a good Mary Jo Capodice, medical director of occupationap health said in a The projects will involve three timeds the number of workers than on the four-yeard Marquette project in downtown Capodice said.
The two projects, which will start this year and take sevem years each tocomplete are: • Thirty-five miles of Intestate 94 from the Mitchellp Interchange to the Illinois state • Thirty-one miles of Highwa y 41 in Brown and Winnebago

Chris Willman: Real estate led to financial career - Tampa Bay Business Journal:

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To manage internal information flow, I depend on BlackBerry and my assistant, Mrs. E-mail and technology are efficient toolas for sharing dataand scheduling, but I insist on old fashionedd face-to-face communication to share knowledgew and information. For externa l flow, clients, trade publications, newsfeeds and certain Web sitews keep me on topof what’s going on in our market and industries that might affect us or our clients. How do you keep yourseld current inyour field?? The Florida and American bankers associations are valuablse sources of information.
Their materials and conferencez keep me up to speed on industry trendseand regulations, but nothing beats sharing informatiobn with my colleagues. Where is the best sourcwe for new ideas? Our employees. I encourage our team to thinkm outside of the box and to communicatetheir ideas. I also encourage employees to challengw the way we do businesse if there are better ways to serve our What was your bestbusiness idea? My best business idea was to enhance our bank culture by usingf an approach and philosophyy of a key member of our that of client advocacy. It has proven to be the best way to buildstrusting relationships, and thus for years.
Its implementation becomes unique to each of our employeew and results in great success for their client andour

Major PG&E gas line ruptures during hydro test - San Francisco Chronicle

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San Francisco Examiner

Major PG&E gas line ruptures during hydro test San Francisco Chronicle "The message I read into this is that the hydro tests are serving a purpose: to validate that a line is fit for service with a significant margin for safety." The area where the rupture occurred Monday is about 20 miles north of where PG&E experienced ... Major California gas line ruptures during test San Jose Mercury News  »

Bruins fall short - Boston.com

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Yahoo! Sports

Bruins f »

Exceptional Cognitive and Physical Health in Old Age Leaves Immunological ... - HealthNewsDigest.com

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Exceptional Cognitive and Physical Health in Old Age Leaves Immunological ... HealthNewsDigest.com (HealthNewsDigest.com) - PITTSBURGH, Oct. 20 â€" Exceptional cognitive and physical function in old age leaves a tell-tale immunologic fingerprint, say researchers at the University of Pittsburgh and Children's Hospital of Pittsburgh of UPMC. ... and more »

Target Center will seat 450 more fans - Minneapolis / St. Paul Business Journal:

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Officials will not say how much new revenue may be generater by theadded seats, most of which will be in the cornersz behind the baskets. But if the Timberwolves chargr $60 per game for 41 home it amounts tonearlt $1 million during the NBA season alone. Improvement s at Target Center began last year when team owne Glen Taylorspent $4 million for a new scoreboard and playing surface, and will continuew with the conversion of eight existing suitesx into one super-suite -- Club The Timberwolves have sold nearly half of the 148 total membershipe for Club Cambria and "people are reallty flocking in to take a look at what this concept is," said Chris Wright, senior vice presidentt and chief marketing officer.
"It allows us to draw potentiallyt more revenue to our bottom line in termsof capacity." Also cominy is an overhaul of concessions and with unspecified costs paid for by Taylor, the city of Minneapolise and Midwest Entertainment. "It allows us potentiallhy a greater capacity for shows that have to decidsebetween St. Paul and Wright said. The renovatiohn can't take away 15 years, but it likel will make the Target Center more competitive with the Xcel saidDon Hinchey, vice president of communication with The Bonhak Group, a sports marketing firm in Denver. The U.S. Bank Theater also will attract events Midwest Entertainment never could have dreamef ofluring before.
"Ther newer facility always hasthe edge," Hinchey The upgrades will lead to higher sales and bettert bottom-line performance because they "ar definitely going to upgrad e the experience of the

Solar Array, Gen. Mills detail expansions - The Business Journal of Milwaukee:

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broke ground April 5 on the $100 176,000-square-foot expansion of its manufacturinggfacility here, Keith general manager of the local facility, told members of . AED held its quarterlu meeting Thursdayat . Joe president and CEO of SolarArrau Ventures, outlined his company’s plan to build a massivde solar manufacturing plant on the city’ss Westside. General Mills’ expansion shoulc be completedby November, Bone said. The cereak manufacturer will hire 60additional employees, bringing additional payroll to the area of $3.
5 The expansion also brings $30 million in spending to New The Albuquerque City Council approved a $100 million industrial revenue bond deal for the companyu in February. BE&K Corp. from Nortbh Carolina landed the design/build contract to builcd the expansion, but Bone said 80 percent of the firm’sz spending and employees willbe local. The precasf panels being used in the construction are manufactureedin Belen. General Mills has been in Albuquerquesince 1991.
Its current facility is located near Paseo del Nortw and Edith and has 190 with an annual payrollof $12 million, said The 275,000-square-foot plant produces about 135 million pounds annually of 35 different The facility also has a lab on-site where the instructionzs for baking General Mills productd at high altitudes are created. The companyg has given about $5 million to area nonprofits sincre 1998and $519,000 in scholarships, Bone added. Don chairman of AED, said the cereal company’s donations illustrate one of the thingss the organization looks for inrecruiting companies: communityh involvement.
Hudgins said Solar Arra y plans to break ground by the third quarter of this year ona 225,000-square-foogt thin-film photovoltaic manufacturing plant in the Cordero Mesa business park, west of the mattresz factory. The company plans to add thres more buildings of that size asit grows, he with each facility employing about 225. Its annualo payroll in the first phase wouledbe $14 million. About five percent of the jobs woulspay $100,000, 45 percent would pay $70,0000 and half of the jobs wouldd pay $45,000.
The capital investmentr for the first phase willbe $170 millionh and the company would spend $40 million annually for raw The first phase is expected to have a capacit y of 75 megawatts, but that would grow to 300 mw with the full The plant also will have a spacde that will serve as a community and educationaol center. Solar Array is seeking $175 milliob in industrial revenue bonds from Bernalillo The company is working toraisw $210 million in debt and Hudgins said. Hudgins said New Mexico beat out two othet states forthe plant, despite the fact that it did not offer the largest incentives.
But the coordination among local and state governmeny officials and other parties made New Mexico far more efficient in establishing a planning framework that the compan could then use to plan a budget for the hesaid “That was a major issue for us,” Hudginsw said. He also praised the labore force here and the educational The facility is being designed byPageSoutherlandPage LLP, whicb has Texas offices in Austin, Dallas and Houston, as well as Washington, D.C. and London, U.K. Hoffman Construction, basede in Portland, Ore., is building the facility.

Audit shows surplus decline at Pinnacol - The Business Review (Albany):

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According to the recent audit from Deloitte Touche LLP, which lawmakerx reviewed Monday, the decreaser is related to losses on bonds and common stocks. Pinnacol’s reserves were a sourcse of scrutiny earlier this year when Coloradi legislators attempted toraid $500 milliom from the insurer to plug gaps in the state budget. Lawmakers argued that because Pinnacol is a politica subdivision of the its reserves were fair But legislators later retreated from the raidaftet Pinnacol’s CEO threatened to sue the state and Gov.
Bill Rittef indicated he would not support the A special committee will lookinto Pinnacol’s operations under Senatew Bill 281, approved by lawmakers and Ritter during the most recentf General Assembly. Supporters of the bill said that Pinnacol’w unique structure should be examinedxmore closely. But opponents of the legislation say the committed isa “witch hunt” to dismantler Pinnacol, which functioned better since it started operatinyg as a private interest in 2004. In an audity summary, Deloitte said it identified financialk misstatementsthat haven’t been correctex in the company’s books totaling $7.5 million in net income.
Pinnacol replierd that the uncorrected statementsare “immaterial.” Pinnacol reportes a total of $2 billioh in assets in 2008. It declared additional policyholder dividendsof $120 million that year.

SMF Energy announces $40M recapitalization - The Business Journal of the Greater Triad Area:

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The company (NASDAQ: FUEL) said in a news release that it estimatezs the recapitalization will reduce its short-term debt by $9.5 million, its total debt by $4.4 million and its cash requirements for interestg and dividends by more than $1 million a It said shareholders' equity has been increase d by more than $4 million as a result. SMF Energy said it extinguishee all of itsexisting non-bank debt and outstanding preferred stoco through various agreements with dozens of existint debt and equity investors, while converting its existing $25 million asset-based lending facility into a new, more favorable, $20 million asset-based lending facility and a $5 60-month amortized term the proceeds of which were used to pay down $4.
867 million in secured notes and $125,000 in unsecuresd notes. The company said it issuedd new stock to make up the balancde paid for the cancellation and extinguishmenr of theexisting investors' debt and equity securities. Fort Lauderdale-basecd SMF Energy said in the release that the recapitalization took place with amended agreement s withand . It said the only non-bank debt incurred in the recapitalizatiohn was an unsecured subordinated promissory noteof $800,000 at 5.5 percenf interest issued to an existing institutional investor in exchange for $800,00o0 of one of the August 2007 11 percent seniorf secured convertible promissory notes.
The institutionalk investor alsoexchanged $200,000 of the same secured note for sharez of common stock priced at 38 centzs a share, which was greater than the closing bid price of the stock on the day beforre the effective date. acted as SMF Energy’s placemen agent for the recapitalization and receivedc feesof $380,000, paid with a combination of cash and securities, pursuang to a Feb. 1 investment banking SMF Energy supplies specialized transportationj and distribution services for petroleum productsand chemicals.
It providews commercial mobile andbulk fueling, along with othefr services to the transportation, construction, energy, telecommunications and governmenft services sectors. Formerly known as , as of Nov. 30, it conducte operations through 31 service locations in11 states. Shares closed down nearlh 3 cents to about 35 The 52-week high was 71 centw on Aug. 28. The 52-week low was 10 cente on Feb. 20.

BOCES to auction house built by students - Business First of Buffalo:

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Now, the home is going up for auctionmJune 12. The group is enrolled in the Buildinb Trades Program at Erie 1 BOCEz PotterCareer & Technical Center where they gained hands-on experience of all construction phases from rough framing to finish carpentry — when they built a 1,3445 square-foot house in the parkinyg lot this past school year. As part of the two-year and incorporated in the class students participated in foundation andfloor framing, wall ceiling and roof framing, interior/exterior finis and cabinet making.
They also learned about buildinfg codes, blue print designs, plumbing and electrical Instructors David Grieco and Brian Toth oversaw the which includesthree bedrooms, a full a master suite bathrook with a jet tub, and a first-floor laundrt room. As part of the process, upgrades and enhancementa were made so students could learj of changes affect the workday in theconstruction field. “Thesw extras give the studentsx theexperience they’ll need when they graduate and find a job in this They’ll be able to tell a future employer, I’ve done that,” Grieco said. More than $45,000 in materials was purchased to complete the housre constructedat Potter.
Over the last seven the average sale price of similatr homes built by studentsat & Technical Center in Cheektowaga is around $55,000. This year, auctio n attendees can choose from two that were built by Erie 1 BOCESx students andtheir instructors, as the Harkness Career completec its project, too. Between both projects, around 35 studentsx built the houses. On June 12, both will be auctioned to the highesg bidders at therespective sites: The Pottere house will be auctioned at 9:00 a.m., the Harknese house an hour Proceeds will go toward building supplies for next year’ss class.

FDIC: Banks rebound to $7.6B profit - Dayton Business Journal:

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billion in profits in the first quarter, down 60.8 percen from the $19.3 billion the industry earnedr in the first quarterof 2008. However, the lates t figures are an improvement over therecord $26.2 billion loss the sector sufferedc in the fourth quarter. Higheer loan-loss provisions, increased goodwill write-downss and reduced income from securitizationn activities all contributed tothe year-over-year earnings Three out of five insurec institutions reported lower net income in the first quarter, and one in five was “The first-quarter results are telling us that the bankin g industry still faces tremendous challenges, and that goinbg forward, asset quality remains a majord concern,” says FDIC Chairman Sheila Bair.
“Banke are making good efforts to deal with thechallenges they’re but today’s report says that we’r not out of the woods yet.” To that point, 21 FDIC-insuree institutions failed during the firs quarter — the largest number since the fourth quarter of 1992. Insuref institutions set aside $60.9 billiobn in provisions for loan losses in thefirsg quarter. That’s up $23.7 billion, or 63.6 from the first quarter of 2008. Expenses for goodwill impairment andother intangible-asset expenses totale $7.2 billion, up from $2.8 billiob a year earlier. Those negative factors outweighed the positivew effects of increased noninterestincome (up $7.
8 billion, or 12.8 and higher net interest income (up $4.4 or 4.7 percent). Insured institutions charged off $37.8 billiohn in bad loans in the first almost twicethe $19.6 billion of a year Tier 1 capital reached a record high of almos $70 billion, the largest quarterly increas e ever reported by the industry. However, much of the increasde occurred at institutions that received capitakl fromthe U.S. Treasury Department’s Troublecd Asset Relief Program. Total assetxs declined by $302 billion due to downsizintg by a fewlarge banks.
Two-thirds of all institutions reportedx asset growth inthe quarter, but reductionse at eight large banks caused the industry total to Total loans and leases fell by $159.6 billionb (2.1 percent), while assets in trading accounts declined by $144.5 billion (14.9

Non-performing loans build up in real estate sector - Baltimore Business Journal:

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This year, the local banking vocabulary is less optimisticwith non-performing loans on the rise and an acceleratingb number of commercial real estate defaults expected to hit balance sheet as the year unfolds. The change in attitud e has been noticed bySam Golden, nationalk practice leader and CEO of LLC, an advisetr to banking clients nationwide. “Yes, in some ways we were insulateduntil now,” says Golden. “To still say we’re insulatef is a bit of a reachg and only timewill tell. Some bankers I talk to in Houstomn are worriedto death.
” As a locally based banks are faring better than thos in areas such as Florida, Nevada and Californiza hit hard by the residential housinhg collapse, or states like Illinois slammed by job losses. some troubling numbers on the commercial side of the book s are beginning to emerge on the Houston Data filed with the shows that past due andothefr non-performing loans among 50 bankw headquartered in the Houston area shot up by 18 percent in the first quarter to $480 million. That’s a gain of more than 100 percenr fromthe $224.6 million in troubled loanw on the books in the first quarter of 2008.
Local bank s have increased loan-loss provisions to cover the upward creeopof non-performing commercial loans, and financial executivess are bracing for the worst. “We’rwe at the ridge line of the roof in seeing whethet or not Houston banks will continue to weatherthe storm. I’m worried about some of my colleaguesw with high percentages of commercial real estate on the says AndyLane Jr., CEO of Bank of Riverf Oaks. He says a recent rise in oil prices may not turn the local economic tide.
“Certainly it’s good to see the price of oil move up becausee of what that meanasin Houston, and I stillp think that maybe we’ll be the first city to come out of this But on the commercial side, I’k sorry to say it’s going to get worse before it gets says Lane. Bank of River Oaks, with $189 millionn in total assets, has a relatively low numbe of real estateloans — about 47 percent of its mainly owner-occupied facilities. “You have to try to manages your balancesheet smaller, and you don’gt want to buy higher priced (certificates of if you can’t put that money back into new says Lane.
He notes that bankeras are reviewing portfolios closer than ever to make the tough decisions necessary to keepthe non-performing numbers down. Adds bank consultant “Regulators are urging the banks to get all the moles and warts off the books as quicklyhas possible. Everyone is tryinyg to be very cautious.” Bank of River Oaks is one of only14 Houston-baseed banks without any non-performing loans on the books at the end of the firsf quarter, based on FDIC filings. However, severa l of those are relatively new and small especiallyMint National, whicjh just opened in January.
Dan Bass, managing director of investment says current market conditions make it difficultfor start-ulp banks to make headway. They typicallty lose money for the first two years of he says, so it might be more difficult for them to handle non-performing loans. At the other end of the a total of 21 Houston bankssaw non-performinb loans rise in the first with several reporting triple-digit increases.

Deloitte: Consumer spending still down - Birmingham Business Journal:

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The index fell to 1.35 percent from an downwardly revisedf gainof 1.44 percent in Deloitte said the index analyzed tax burden, initial unemployment real wages and real home prices to try to trac consumer cash flow as an indicatoe of future consumer "The year over year pace of decline in real consume r spending appears to have however, recovery is being delayed by a sharop increase in consumer which has risen to 5.7 percenyt from zero a year ago," said Carl chief economist with Deloitte Research and author of the monthlyy index, in a statement.
the weakness in the index was driven almos t entirely by fallinghome prices, which are down nearly 14 percengt over the past year, underminin g small gains in real wages, a decliningg tax burden and current stabilization in new unemployment claims." The reporyt noted the tax burden continues to drop with the weakeningf of the economy. It is at a levep only seen on a few occasions over the past 50 yearzs during brief periods following tax Continued declineis expected. Also notable, real wage growth continuee to post small gains due to fallinhg pricesfor energy. Real wages are up 4.
3 percentt from a year ago and on an annualize basis are up 8 percent over the last nine months as energy prices have given a big boosyt to consumerpurchasing power, the index said.

Stowers Institute affiliate endows life sciences chairs at University of Kansas Medical Center, University of Missouri-Kansas City - Kansas City Business Journal:

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million apiece from a affiliate to endow a life sciencez chair ateach institution. UMKC Chancellord Leo Morton saidthe money, whicy came from the nonprofitf BioMed Valley Corp., will enhance the research relationshio between Stowers and the . KU Med probabl will use the money to recruita physician-scientisty working on cancer research, spokeswoman Amy Jordan Woode said in an e-mail. “Given how tight the state budget she said, “we need philanthropic dollara like this generous gift from the Stowers to keep our momentu going.” She said the BioMed Valley money also will let the schookl leverage state matching fundas for distinguished faculty.
The distribution from BioMef Valley, which was formed in 2003, came as the organization endeda research-partnership program with the two The program was intended to foster collaboration between Stowers and the two institutionsz in the areas of basic-cell and molecular-biology research. Througu the partnership, the annual financing for the schools was limited to 3.5 percent of the balanc in endowment accounts established for the program. Each account startecd with $2 million. The program was terminater to expedite distribution of the money to the Stowers spokeswoman Laurie Roberts said inan e-mail.
Robertsd said the distributions equal the amounty the universities would have receivex through thepartnership program, adding that the partiezs continue to look for ways to work “I can tell you that each of the institutionsx is interested in forming research partnershipsa wherever possible,” she said. “These discussionsa are ongoing.”

ACBJ to relaunch Portfolio.com - Austin Business Journal:

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and American City Business Journals . Bizjournalas will oversee the editorial and business sides of the The Portfolio.com editorial team and sales staftf will be based in New Condé Nast Portfolio magazine and its Web site Portfolio.comm launched in April 2007; the magazine closef in April. The site providerd insight intothe day’s top businesa stories, with analysis from bloggers and columnists. Tim president of new media at ACBJ, and Davird Carey, group president at Condé Nast, announcedc the move Wednesday. ACBJ and Condé Nast are unitds of . In addition to newlyt created content, Portfolio.
com will share content with othefr Condé Nast sites such as , GolfDigest.com, and , as it did It also will be the home of the archiveds of content publishedby Portfolio’s print and digitakl properties over the past 24 months. “We are excited about continuing Portfolio.com and including the site in the bizjournalsx network because we were impressed by Portfolio’sx strong Web presence, its clean and crisp and its voice in the business-journalism marketplace,” Bradbury “We believe our readers will benefit as the relaunchee Portfolio.
com will have a stronger focus on industrhy news and a greater mission to offere information relevant to today’s business professionals.” On top of its existinyg strengths, Portfolio.com will leverage the collaborativ e skills and insights of the more than 600 ACBJ business journalists around the country, Bradbury said. The site will have access to local market intelligence and work collaboratively with ACBJ newsroomas acrossthe country, presenting the most importantg local insights through a national lens and making it unique among national business he said. “We knew that Portfolio.
com was a highly valuablde asset, with an established digital strong direct navigation by anda solid, long tail of traffic from contenty published over the past two years,” Care said. “We saw ACBJ as a perfect matcg due to its great editoriao resources in thebusiness arena, and view this as a win for both Portfolio.com’ds readers and the company.” Portfolio.com grew to 2.8 milliomn monthly unique visitors and won industry praise with awardsd such as the MIN:Best of Web Award 2008, MIN:Hottest Launch of the Year and Webby nominees in Best Business blog and Financial Servicez categories.
Bizjournals is the online media division of the nation’s largest publisher of metropolitan busines s newspapers. It operates the Web sitesz for each ofthe company’w 40 print business journals and operates a Web-only site with locall business news and information for Los Condé Nast includes 22 consumer magazines, Condé Nast the Fairchild Fashion Group, Parade, the Condé Nast Mediw Group and the Shared Services Centers.

Scientist: Sky confirms "shining moon" behind Frankenstein - Reuters

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RedOrbit

Scientist: Sky confirms "shining moon" behind Frankenstein Reuters SAN ANTONIO (Reuters) - A Texas astronomer has used science to confirm one of the most famous tales in western literature, the "bright and shining moon" over Lake Geneva that inspired an 18-year-old Mary Shelley to write "Frankenstein; ... Researchers Confirm When ! 'Frankenstein' Was Written RedOrbit  »

Burnout Crash! Review - IncGamers.com

Wine Refrigerators

MTV.com

Burnout Crash! Review IncGamers.com I've been saying for years that Criterion needs to just repackage Burnout's Crash mode and stick it onto digital distribution services. Re »

Against Packers in playoffs, Hanie showed promise - Chicago Tribune

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ESPN

Against Packers in playoffs, Hanie showed promise Chicago Tribune If it does, we will look back at what happened at Soldier Field last January in the NFC championship game against the Packers as a defining experience, as well as a springboard. That game convinced almost everyone that Hanie is a solid backup. ... Week 3 NFL predictions against the spread (2011): Green Bay Packers at Chicago ... Yahoo! Sports Bears receivers coach confident his guys will deliver vs. Packers Chicago Sun-Times NFL Preview - Green Bay (2-0) at Chicago (1-1) (ET) Kansas City Star  »

The Cheesecake Factory Incorporated Company Profile | CAKE Company Information

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million. Grand Lux Cafe(R), the Company's secondc concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items and averagew annual unit sales ofapproximatelyg $12.7 million in fiscal 2007. The Companyy also operates one unit of itsnewest concept, RockSugar Pan Asian Kitchen(TM), and two bakery production facilities in Calabasazs Hills, CA and Rocky Mount, NC that producre over 60 varieties of quality cheesecakes and other baked Additionally, the Company licensess two bakery cafe outlets to another foodservice operatoer under The Cheesecake Factor Bakery Cafe(R) mark.

Richard Teets Executive Profile

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In April 2007 Dick became an executiver vice president overseeingthe company's four long-productzs steelmaking divisions and the steel fabricating New Millennium Building Systems. In Dick initiated the planning for constructionof SDI'sw structural-steel mill at Columbia City, From 1998 to 2007, he managed the construction, start-u and operation of the structura mill and is responsible for its commercial succeszs and growth. The Structural and Rail Division has grownj to become a major part of Steel Dynamicsa and a major supplierof wide-flange beams in Northy America.
A major expansion project is underwa to doublethe division's production One of the founders of Steel Dynamics, Dick has servex on the board of directors since the companu

Image Credit: CBS - Entertainment Weekly (blog)

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New York Magazine

Image Credit: CBS Entertainment Weekly (blog) The new comedy starring Christina Applegate and Will Arnett was given a big lead-in by the two-hour finale of America's Got Talent (14 million viewers, 3.5 adults 18-49 rating). While Up  »

McCollum files objection in Chrysler case - South Florida Business Journal:

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In his formal objection filed with the Bill McCollum wrote that even if the code allows for terminatio ofthe relationship, “state law stillo provides the procedure for that and ensures that jobs are not unnecessarily lost and that dealerw have time to restructurew their business as far as possible.” McCollum also has writtebn a letter to James Chrysler’s vice chairman and president, expressing his concerns over the company’s treatment to dealers whose franchises are being terminated as part of the Chapteer 11 bankruptcy.
McCollum notedd that the dealerswere “forced to turn over their parts inventor y to Chrysler” and to stop selling their existing inventoryh of cars, but have not yet been paid. He noted in the letterf that Chrysler’s failure to pay its obligations to thedealersx “has endangered the employment of hundreds of employees at several Florida dealerships, and nearly 200 othetr dealers nationwide.” His actions come on the same day that a bankruptc y judge is expected to approve the automaker’s sale to a group that includes Fiat. Click to read McCollum' motion.

Accounting rule change

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Until now, accountants have had to check as many 20 differenr sources to find the answersw totheir questions. It isn’t easy because the Financial AccountintStandards Board, the Conn.-based group that promulgates the regulations, organizefd the regulations in chronological order based on when the rulesd were adopted. Under the new system, which goes into effect July 1, FASB will group its rules by topic, a change that is overdue, accountantzs say. “Now, if you have an issue over a particuladr type of asset or it will be a lot easiedrto find,” said Scottf Rodgville, a director at Schiller & Gardyn P.A., an Owingxs Mills certified public accounting firm.
“It will be a lot less like doinf a Google search for your The FASB rules themselves arenot changing, said Andy chairman of the accounting and auditing departmenty at Weil, Akman, Baylihn & Coleman P.A., a Timonium CPA firm. It doesn’rt change the generally accepted accounting principles used in preparing financial he said. “It just reorganizes it and makes it simpleeto use,” he said. Still, Garretr called the upcoming change “the most significant restructuring” he has seen in his 20 years in accounting. The change comes as FASB prepareas to align therules U.S.
accountants use in preparinf financial statements for publicly tradedd companies with international rules startingin 2014. Thoswe rules already are being used in European Uniojn countries and will go into effect in Canada in 2011 and Mexicopin 2012. The accounting licensing exam will begitesting would-be CPAs on the International Financial Reporting Standardss starting in 2011, said J. Thomas Hood III, CEO of the 10,000-membe Maryland Association of Maryland CPAs are interested in the upcoming Hood said. His group has been running continuin education courses to keep its memberw informed about thenew developments.
Clients, however, may not appreciat e the need for the move to international accounting saidWeil Akman’s Garrett. “I think it’s going to create a lot of work for Garrett said.

Animal Activists Urge Release of Giant Philippine Crocodile - Voice of America (blog)

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ABC News

Animal Activists Urge Release of Giant Philippine Crocodile Voice of America (blog) People for the Ethical Treatment of Animals said Saturday that if the 6-meter saltwater crocodile remains in captivity at a park in Agusan del Sur province, it will develop abnormal and self-destructive behavior, and endanger its keepers and visitors. ... Activists seek release of giant Philippine croc The Associated Press 'Monster croc will go crazy in zoo' ABS CBN News Philippines urged to free giant crocodile AFP TODAYonline  »

VSR Financial Services owners settle negligence case for $10.3M - Kansas City Business Journal:

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million through their insurance company to settle a negligence case filed by249 customers. The customers had claimed the Overland Park-based company was negligenty in supervising two former brokers whosold high-risk investmentzs in several Florida-based companies. The Rebecca Engle and Brian Schuster, were charged with eight count each of securities fraud by Nebrasks onMay 11. VSR Financial owners and founders J. Michael Stanfielfd and Donald Beary consented tothe $10.3 milliomn settlement before an arbitration panel from the on May 8, the authoritt said in a release Wednesday. also CEO of VSR said in an interview Thursday that he and Beary did not admit toany wrongdoing.
Stanfield said part of the agreementt was that the plaintiffs agreed not to collecty the settlement from Stanfield and but instead will try to collect payment fromthe company’s and officers’ insurance provider. Englde worked at VSR as a representative for aboutg nine months in 2006and 2007. Engl lost her Nebraska securities license in 2008 as part of an agreementr she entered into withstate regulators. Schuster was a formet business partnerof Engle’s and never workexd directly for VSR.
“These investments were sold through CapitalGrowth Financial, a Florida broker dealer that is no longef in business, about three or four years before they were involvex with us,” Stanfield said. Stanfield said that no claimss remain against VSR Financial orits executives. The Financialo Industry Regulatory Authority callds itself the largest independent regulator for securitiea firms doing business in the United It was created in July 2007 through the consolidation of the and themembet regulation, enforcement and arbitration functions of the .

Sonnenschein Nath & Rosenthal will close Charlotte office - Kansas City Business Journal:

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In an e-mail sent to all firm Sonnenschein Chairman Elliott Portnoy saidthe firm’sx partnership voted to close the office on April 1. He cited the declinint demand for legal servicesin Charlotte, a financial institutiohn nerve center that has been hit particularly hard durinb the economic unraveling. The decisionj affects 11 lawyers and eight staff all of whom will get separation packages or an opportunity to relocate toother offices.
“We and our colleagues in Charlotte hoped for adifferenft outcome, and we value their many contributions against the backdrop of a deteriorating Charlottes legal market and the consolidatioh of Charlotte-based financial institutions,” Portnoy’s e-mail It’s been an up-and-down last year for On one hand, its revenue increased to $492 millionn in 2008, up 3 percenft from $478 million in 2007. On the other its profits-per-partner dropped 12 percent durin g thesame period, to $804,000 in 2008 from $915,00p in 2007.
The firm also had two rounds of layoffzduring 2008, which firm officialds said was a move to maneuvet Sonnenschein through coming economic hardships, but then it hiredf 100 lawyers from in December, a move that most benefitef its New York and Washington offices.

Ivy Tech schedules hearing on tuition - Triangle Business Journal:

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in the fourth floor auditoriumn of the North Meridian Center atIvy Tech’w downtown Indianapolis campus. The campue is located 50 W. Fall Creek Parkway Nortg Drive. The 2008-09 in-state student tuitionb rate is $95 per credit hour with a $40 per-semester technologty fee. The proposed rates are $99.656 per credit hour with a $50 per-semesterf technology fee for the 2009-10 year and $104.5 5 per credit hour and $60 per-semesterd technology fee for the 2010-11 year. The cost for full-timde students, who take 15 credit hours, would increase by $79.755 per semester in 2009-10 and by $83.50 in 2010-11.
Indian a residents who want to address the committeebut can’tr are encouraged to send written comments to Bob Holmes, vice presidenyt for finance and treasurer of the at bholmes@ivytech.edu or mailed to him at the Ivy Tech Communitgy College, 50 W. Fall Creek Parkwahy North Drive, Indianapolis, Ind., 46208. Ivy Tech, the state’s communityt college system, operates 23 campuses in including a Southern Indiana campusin

Mesa Capital names new CEO for ClingZ - New Mexico Business Weekly:

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The remaining 8 percent of shares is held by thre eClingZ executives, including outgoing CEO Bianca Thayer. Thayed will remain as company presiden until the end of January to allow for a smooth transition for She will continue as a significant shareholded even after leavingthe firm, said Mesa Managing Partne r Les Matthews in a news “Bianca has done a greay job bringing ClingZ Inc. to its currenyt level, and expanding the product line and productiobn facilities to position it for Matthews said.
“Now it is time to brinh in someone new to drive the growth As CEO, Schlenzig will help build new marketas for ClingZ and pursue more opportunities in existingv markets to accelerate the company’s global Matthews said. Founded in 1987, the company makexs electrically charged plastic film that cling to surfaceswithout adhesives. Printers use the called ClingZ, to supply self-sticking promotional and educational materials to advertiserzsand others. It’s also used for a variety of consumerd products, such as wall calendars, stick-itr pads, and reusable presentation sheets that replacweflip charts.
The company recently expandef its factory and warehouse spacefrom 10,000 to 23,000 square feet. It plans to hire five new employeez and two salespeoplenext year.