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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.
Wednesday, September 14, 2011
Monday, September 12, 2011
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.
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.
Saturday, September 10, 2011
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 'Monster croc will go crazy in zoo' Philippines urged to free giant crocodile |
Wednesday, September 7, 2011
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 .
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 .
Monday, September 5, 2011
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.
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.
Saturday, September 3, 2011
Ivy Tech schedules hearing on tuition - Triangle Business Journal:
nazariomuibepu1687.blogspot.com
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
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
Thursday, September 1, 2011
Mesa Capital names new CEO for ClingZ - New Mexico Business Weekly:
mooth35byh.blogspot.com
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.
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.
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