Monday, January 30, 2012

Auto company bankruptcies might make lenders

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Some turnaround specialists are concernedthe government-guideds bankruptcy reorganizations of and GM coulf make it harder for companies to obtain capital in the future. In these the companies’ labor union, the United Auto received more favorable treatment thanthe companies’ secured This violates well-established bankruptcy law principles, said Petefr Kaufman, president of LLC’s restructuring practice in New York. The United Statese is the most welcoming place in the world for particularlyfor loans, he said, because “everyone knows what their downside is.” “Nowq that has all been stood on its Kaufman said.
“At a time when the country needs capital providerx morethan ever, you’re going to find institution with their hands in their or they’re going to be charging a lot he said. Half of the turnaround experts surveyexd by the thoughtthe government’ s decision to elevate unsecured creditoras over secured creditors in the Chryslef bankruptcy will make secured loans more expensive. More than one-thirdd thought it would make lender less inclined to make these An online survey conducted by the found that 76 percentf ofrespondents “disagreed strongly” with the Obama administration’s engineering of the Chryslerf bankruptcy.
Kaufman contends capital providers will be especiallyt leery of situations where there are unionse and a conceivable governmentpolicy interest. That’s “goinvg to be a systemic issue ona going-forware basis,” he said. But other bankruptcy experts conten d thatthe government’s decision to intervene in the cases won’t serve as a precedent for future corporate bankruptcies. In the currentt economic environment, no politician was goiny to let Chrysler andGM fail, said Stephemn Lubben, a law professor at who specializes in corporats debt and financial distress.
The casees might make lenders “gun in the short run, he said, but “eventually people will come around tothe realization” that these were special cases like that of Penn whose 1970 bankruptcy led to the creation of Amtrak. Mark a partner with LLP in New York, said the federapl government “used its power to broker a settlement for the greated good ofthe economy. if the bankruptcy process is goinyg to continue to be the basis for corporate restructuringsxand liquidations, it must be perceived as fair and impartial.
” Tom Donohue, president and CEO of the , said he will watchy closely to see whether government officials and the UAW intervene in business decisions made by Chrysler and GM. “Wr will expose and fight any counterproductivde influenceby government, unions or politicians over decisionsa that should be left to management,” Donohue said in a statemeng issued after President Obama announced the U.S. governmen t would own 60 percentof GM. “And we will continually insist that government reduce and eliminat e its ownership stake as soon as Donohue said.
Obama said his goal “is to get GM back on its takea hands-off approach and get out “The federal government will refrain from exercising its rightas as a shareholder in all but the most fundamental corporate decisions,” Obama “When a difficult decision has to be made on mattersw like where to open a new plant or what type of new car to the new GM, not the Unitedr States government, will make that decision.

Saturday, January 28, 2012

Roundup: No. 2 Terriers falter in third period - Boston Globe

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Roundup: No. 2 Terriers falter in third period

Boston Globe


Mark Anthoine broke a 2-2 tie at the 10:08 mark of the third period to lead 20th-ranked Maine to a 4-2 win over second-ranked Boston University last night at Agganis Arena, giving BU its first loss since a 5-2 defeat at Notre Dame on New Year's Eve.


Maine Hockey Trips Up No. 2 Boston University: A Fan's Take

Yahoo! Sports


BU zapped by M aine; Terriers' streak ends

Boston Herald



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Thursday, January 26, 2012

AT&T to offer mini laptops in stores - Dallas Business Journal:

http://msnewcomersguide.com/world/should-new-orleans-be-rebuilt/
The 3G mini laptops are a natural extension ofthe company’w growing line of mobile devices and is designed to give AT&T customer s an opportunity to carry around lightweight computers that alloew them to check e-mails and revieew and edit documents while on the move. In the mini laptop is beingg touted as a convenient tool to use when dealing withdigital files, photos and music The concept is to keep customers worldwide connectee to where they live and work, Dallas-basee AT&T (NYSE: T) said. The expanded lineu p of embedded products will feature mini laptops by either Dellor Lenovo.
The laptops will be offerecd at morethan 2,200p AT&T-owned retail stores and via the company’es Web site, beginning this summer. mobile and fast is all the rageand we’re goingy to answer that call with a lineuo of the hottest mini laptops in the said Ralph de la Vega, president and chiefr executive officer, AT&T Mobility and Consumer Markets. “Pairing these laptopss with AT&T’s home broadband, Wi-Fi and the nation’s fastestr 3G network enables consumersand small-business customers to get the most from theie new devices — at home, in the offic e and on the go.
” AT&T began testingg the public’s interest in 3G mini laptopss by launching a small rollouyt in retail stores during the montb of April.

Monday, January 23, 2012

Initiative seeks to boost San Jose minimum wage to $10 - San Jose Mercury News

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KGO-TV


Initiative seeks to boost San Jose minimum wage to $10

San Jose Mercury News


If the initiative succeeds, San Jose could join San Francisco, Santa Fe, NM, and Washington, DC, as the only cities in the United States setting minimum wages. San Jose's minimum wage would be higher than both the state's $8 an hour minimum and the ...


< p size="-1">SJSU group pushes to increase minimum wage

KGO-TV



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Saturday, January 21, 2012

Tax codes key part of budget discussion - Santa Fe New Mexican.com

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Tax codes key part of budget discussion

Santa Fe New Mexican.com


As a result, the discussion over revenue has moved to New Mexico's tax code, which is full of credits, exemptions and deductions created for taxpayers. Every year, those tax breaks add up to more than $1 billion that New Mexico doesn't collect. ...



and more »

Thursday, January 19, 2012

Final chapter for Sidmouth Library stalwart Vicky - Sidmouth Herald

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Final chapter for Sidmouth Library stalwart Vicky

Sidmouth Herald


Vicky Luxton with her friends and colleagues at Sidmouth library. Photo by Terry Ife ref shs 6395-03-12TI To order your copy of this photograph go to www.sidmouthherald.co.uk and click on myphotos24 To send a link to this page to a friend, simply enter ...



Tuesday, January 17, 2012

Union Drilling Prices Common Stock Offering

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million newly issued shared of its common stoci at a public offering pricewof $8.25 per share. Jefferied & Company, Inc. is the sole underwriter for this The Company has granted the underwritera 30-da option to purchase up to 450,000 additionaol shares to cover over-allotments, if any. The offeringv is expected to close onJune 10, 2009, subjecty to customary closing conditions. The Companuy intends to use the proceeds it receives from theofferinhg (net of underwriting discounts and expenses) to repay indebtednessd outstanding under the Company'a revolving credit facility.
The shares will be issuede pursuant to an effective shelf registratiohn statement that was previously filed with the Securitiees and ExchangeCommission (the "SEC"). The offering is being made by meanw of a prospectus and relateddprospectus supplement. Copies of the prospectuxs and prospectus supplement relating to the offeringf may be obtained fromJefferies & Company, Inc., 520 Madisom Avenue, New York, NY 10022, These shares may not be sold nor may offers to buy be accepter prior to delivery of a prospectus meeting the requirementz of the U.S. Securities Act of as amended.
This announcement is neither an offer to sell nor a solicitatiohn of an offer to buy any ofthesse securities, and shall not constitute an offer, solicitationh or sale in any jurisdictionh in which such solicitation or sale is unlawful. Union Drilling, Inc., headquartered in Fort Texas, provides contract land drilling services and primarily to naturalgas producers, in the Unitec States. Union Drilling currentlh owns and markets 71 rigs and specializes in unconventionaldrilling techniques. This press releaswe contains various forward-looking statements and information that are basexon management's belief as well as assumptions made by and informationb currently available to management.
Forward-looking informatiojn includes statements regardingthe Company' anticipated growth, demand from the Company's customers, capitak spending by oil and gas companies and the Company'w expectations regarding its new rigs and the U. S. land drilling Although the Company believes that the expectations reflected insuch forward-lookingy statements are reasonable, it can give no assurance that such expectations will provse to have been correct.
Such statements are subject tocertain risks, uncertainties and assumptions, including, among othetr matters: general and regional economic conditions and industry trends; the continued strength or weakness of the contract land drillingf industry in the geographicd areas where the Company operates; decisions about onshore exploratiob and development projects to be made by oil and gas the highly competitive nature of the contract land drillinh business; the Company's futurd financial performance, including availability, terms and deployment of the continued availability of qualified personnel; and changes in governmental regulations, including those relating to workplace safety and the Should one or more of thesse risks materialize, or should underlying assumptionsz prove incorrect, actual results may vary materiall y from those expected.
These risks, as well as others, are discussee in greater detail inthe Company's public filings with the SEC, includinyg its Annual Report on Form 10-K. Union Drilling, Inc. Christopher D. CEO A.J. Verdecchia, CFO 817-735-879e DRG&E Ken Dennard / Ben Burnham 713-529-6600 SOURCE Unio n Drilling, Inc.

Sunday, January 15, 2012

Ruling on Coyotes move could come Wednesday - Business Courier of Cincinnati:

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U.S. Bankruptcy Court Judge Redfielcd Baum struggled to stay on taskat Tuesday’zs hearing as attorneys representing Balsillie, Coyotews owner Jerry Moyes, the city of the and other professional sports leagues deliveredr hours of oral arguments over bankruptcy code, anti-trusy law, relocation and otherf legal issues. Baum and the myriac of attorneys delved into obscure bankruptcy provisions and past relocations by teamx including the Oakland SanDiego Clippers, Quebec Nordiques and Baltimore Colts.
Baum focuseds on whether Balsillie will have to pay the NHL a relocatiojn fee on top ofhis $213 million offerd to buy the financially strapped Coyotes from Phoenisx trucking company owner Jerry Moyes. The relocation fee couldx total as muchas $100 court documents indicate. Baum appearsx ready to rule that the NHL has the rightws to the Hamilton market and if the Coyotes aremoverd there, Balsillie will have to compensatre the league for loss of an expansion opportunity. The city of Glendalw pressed Baum to consider legal claims and costs that woulds accompany a moveto Canada.
That could offset an offer as lowas $140 million by parties wanting to keep the team in Arizona, city representativeds said. Glendale officials said they woulds make a claim for as muchas $500 millio if the team breaks its lease at the city-owne Jobing.com Arena. Arena concessionaire Aramark also could makea claim. Moyes and Balsillie’as attorneys argued that a lease claim is subjecrt to various monetary caps and that the courft can discharge lease terms and penalties in order to maximizesthe team’s value for creditors. Moyes said a decisio n could come Wednesday and has urged the courtf to hold an auction sale for the hockeyu team onJune 22.
The NHL and Glendale say the sale shouldr be put off until August and the league said it will finances the Coyotes into next season ifneed be. Glendale attorneys also pressed Baum to find out how much mone Moyes may have taken out of the They point to the fact the Coyotese spend money leasing private office space at Westgatwe City Center instead of using arena Moyes spokesman Steve Roman saidthe city’x speculation that Moyes is profiting from that arrangement is false. Moyes and Westgate developert Steve Ellman splitjoint assets, including the in 2006 with Moyes taking over as team owner. The Coyotees have lost more than $300 million sincw moving to Phoenix from Winnipegin 1996.

Friday, January 13, 2012

Wells Fargo Insurance Services nabs Las Vegas brokerage in buying spree - Minneapolis / St. Paul Business Journal:

lkinibim.blogspot.com
The brokerage network, part of (NYSE: WFC) said the deal closedx June 1. Terms were not disclosed. According to has been in businesasince 1999, when it was founded by John Grady, and focusex exclusively on health and benefits insurance, with customers in the construction, health-care, auto sales and home developmentg niches. Grady is now managing directord ofemployee benefits. Wells Fargo Insurance Serviced isthe world’s fifth-largest insurance brokerage and the nation’s largest bank-owne brokerage, according to Business Insurance magazine’s 2008 with more than 200 offices in 37 states.
The brokeragee network has been on a buying spree Itbought Novato’s and in early April, and abouyt a month before that acquired Walnut Creek-based , an employede benefits consulting firm that also has offices in Houstobn and Seattle, among other deals in recengt months.

Tuesday, January 10, 2012

D-FW commercial foreclosures up 12% - San Antonio Business Journal:

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In the first seven months of the Foreclosure Listing Servicefound 1,245 foreclosurew notices filed on commercial properties. That is up from 1,116 filingsa recorded during thesame seven-month periodd last year. In the officed building segment, Foreclosure Listing Service said the numberd of foreclosure notices filed on those properties increased 109 percenty inthe Dallas-Fort Worth area when comparing the firstg seven months of this year to 2008. “Sp far this year, 138 postings have been fileddon D-FW office buildings compared to only 66 by this time last said George Roddy Sr.
, president of Retail centerw and buildings had the second highest numbee of foreclosure postings, with the filings jumpintg 108 percent in the first seven month of the year. In all, there were 166 foreclosurr notices filed against retail centers durinb the first seven months of the up from 80 listings during the same period last Despite an uptick in commercialforeclosure filings, Roddy said the numbers pale in comparisonn when comparing filings in the commercia l sector to those in the residential sector.
“Year-to-date foreclosur e postings of commercial real estate climbed at a much more moderatr pace thanresidential postings,” said “Foreclosure notices filed on commerciakl real estate located in the Metroplex climbed just 12 percenyt so far this year compared to the 20 percent gain on the residentiakl side of the market.”

Sunday, January 8, 2012

Field Asset Services on a hiring spree - Minneapolis / St. Paul Business Journal:

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Field Asset Services, which plansw to hire about 150 people by the end of has grown from about 200 employees at the beginningg of 2008 to more than 550 saidPaul Carlson, the company’s seniof vice president of human resources. The locally based company now occupiesabout 112,00 0 square feet of the 165,000-square-foot office buildinhg on West Louis Henn a Boulevard near the Austin-Round Rock border. The receny lease signing brought the building to 100 percent occupancy, while most offices in that area aren’ty even half full.
Carlsom attributes the company’s growth to its countercyclical Field Asset Services provides property preservation services for banks and mortgagde companies when those entities foreclose on and take over a Thecompany doesn’t interact directly with the former home owners, but providesd security, maintenance and repairs, and helpsa prepare the homes for sale. Its servicesw reach nationwide toabout 85,000 properties. “The drivere for us is related to the economicsituatio that’s taking place,” Carlson said.
“We’re one of the companied that’s enjoying success and the opportunityy to provide employment in the Austin While Field Asset Services probably will not take more officre space in theimmediate future, Carlson said the companyg is looking at more growth, and has a pilot telecommuting program in place. Fiel Asset Services’ growth has a significant impact on the locapl office marketas well. “What’s notabl about this transaction is that it puts Frontera Crossing at 100 in asubmarket that’s 45 percent vacant,” said David Putman of Aquila Commercial. Putman and Ben also of Aquila, representerd the landlord. Jon Aleshire of The Aleshire Co.
represented Field Asset Services. According to research from Oxford the Round Rockofficed market’s overall vacancy rate at the end of firs t quarter 2009 was about 55 and average rental rates were $23.70 per squarew foot. Ted Doucet of Oxford Commercial said Field Asset Service’s expansion is not indicative of the Round Rock submarket bouncing however, pointing out that two new office buildings are sittinyg almost completely vacant across from Fronteraq Crossing. Aleshire said Field Asset Servicesx chose to move into Frontera Crossing last year because the companyuanticipated growth.
Features like a high rati o of parking allowed the company to keep that expansion in the same he said. “It came a lot fastef than theyoriginally anticipated, Putman said of the company’s growth. “They’vr got a lot of businesw on the West Coast andin Florida.” The buildinfg has seen growth from otherf existing tenants also, including the Art Institutse of Austin, which recently expanded, Putma n said.
“Both those groupzs are countercyclical, and as the economy goes througgthis downturn, more people are going to school,” Putman said of the Art

Friday, January 6, 2012

Minimize Latin America Investment Risk with This Simple Tip - NuWire Investor

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Minimize Latin America Investment Risk with This Simple Tip

NuWire Investor


I don't like risk. But you can't make any money from real estate investments without there being some risk, right? Every successful investor knows this. Every successful investor also knows that you mitigate that risk by performing loads of due ...



Wednesday, January 4, 2012

Clear Channel Radio joins national online radio network - Wichita Business Journal:

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The network, called the , will carry audii streams from radio stations owned by some of the largest broadcasters, including Clear Channel Cumulus, and Salem Broadcasting. It will also carry popula syndicated contentfrom . Listeners will also be able to tap into such Internef radio sites asFineTune ( ), Radioioo ( ) and . Officials with the two companies say onlinde radio listenership as a whole reachezs 33 million Americans each according to bothand . This is up from 29 million listenerswlast year. Clear Channel operatezs four radio stationsin Wichita: KTHR; KZSN; and KZCH.
The benefit for Clear Channel Radip and Katz Media Group is that advertisers will be able to buy theid choiceof audio, video, display or bannef advertising on the network's site. Advertising on the online networm will be handled by a groupo of sales agents from Clear Channepl OnlineMusic & Radio, Katz 360 Sales and . "Majorr advertisers and agencies now have a simpld wayto plan, purchase and optimizew the best of the growing online audio audience -- spanninf AM, FM, syndicated and independent Internet radio," says Brian Benedik, president of Katz 360 Sales, a unit of Katz Medisa Group.
"Whether it's a national platform, a regional plan or a specificx geo-targeted campaign, the Katz Online Network can be customizefd toany advertiser's audio needs," he adds.

Monday, January 2, 2012

Police: Drunk airman slams car into building - KOMO News

plesciamipukoa1855.blogspot.com


TheNewsTribune.com


Police: Drunk airman slams car into building

KOMO News


It happened around 4:30a.m., outside the Multicare Clinic on the corner of Bridgeport and Gravelly Lake Dr. Lakewood Police say, the driver of the car is an Airman from Joint Base Lewis McChord. Both alcohol and speed played a role in the crash. ...


LAKEWOOD: Driver smashes into waiting room

The Olympian


Reported DUI driver slams into Lakewood MultiCare clinic, damages waiting room

TheNewsTribune.com


JBLM Soldier Suspected of DUI Crashes Vehicle Into MultiCare Building in Lakewood

Patch.com



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