Sunday, February 27, 2011

HHGregg Inc. planning major expansion in region starting next year - The Business Journal of Milwaukee:

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The Indianapolis-based company plans to open 40 to 45 new storesz infiscal 2011, mainly in Baltimore, Washington, D.C., and Philadelphia. The retailer’se fiscal 2011 runs from March 2010 toMarcbh 2011. The expansion will be HHGregg’s (NYSE: HGG) initial foray into the mid-Atlantivc and will follow onetime electronics giantCircuit City’ exit from the marker following bankruptcy. The new stores are part of an aggressiv growth strategy aimed at taking advantaged of cheap rental rates and excess realestates capacity, President Dennis May said in a statement. The company also plans to open a distributio center inthe mid-Atlantic region.
The average HHGregg store is 30,00o square feet and employs 40 workers. The company said it has begujn to execute leases on thefuture stores, but a spokeswomanj declined Wednesday to disclose any specific locations for the stored or the distribution center. HHGregg currently operates 111 storezin Alabama, Florida, Georgia, Indiana, Kentucky, Nortuh Carolina, Ohio, South Carolina and In fiscal year 2009, the company posted salez of $1.4 billion and a profif of $36.5 million.

Friday, February 25, 2011

ATS Services is now Talagy, with new owner - Puget Sound Business Journal (Seattle):

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Derek Mercer, the nephew of ATS founderf Delores Kesler, acquired the companyh and will serve as Kesler will retain the title ofchairmann emeritus. Amy McGeorge will assumw the role of presidengtand CEO. Terms of the acquisition were not “This is an exciting time in the growthj and evolutionof ATS, and I’m pleaseds to allow the next generation of leadershipp to take the helm,” said Kesler created Jacksonville-based ATS Servicesw in 1977, eventually forming a pareng company that merged with three othef staffing firms, including .
The business split into two ventures: , whichh became a publicly traded company and isnow , and ATS Mercer worked as the director of information technology at ATS Services before creating his own , a global provider of on-demanfd talent management software, in 1996. Kesler provided a loan that helpede startthe company. Vurv Technologt was acquired by (NASDAQ: TLEO) in 2008 for $128.8 Talagy, which has 11 offices aroundd the country and80 employees, will continure to offer the same products and services, but instead of operating under multiple brands and business units the company will consolidate into a singld brand.

Tuesday, February 22, 2011

Census Bureau: Cary, Raleigh among top 10 fastest-growing U.S. cities; Durham in top 20 - Houston Business Journal:

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Raleigh, Cary and Durham ranked amony the 25 fastest growing large cities in the nation for the 12 months that endedrJuly 1, 2008, the said in its annuakl population estimates released Wednesday. which saw its population increaseby 6.9 to 129,545, as of July 1, was the nation’s third fastesg growing city. Raleigh’s population climbed by 3.8 to 392,552, making North Carolina’s capitak the eighth fastest growing Durham was ranked 16th with a 3 percent Its population roseto 223,284. New Orleana experienced an 8.
2 percent increase in its which roseto 311,853, making the city ravagef by Hurricane Katrina in 2005 the fastestf growing city among places with populations greatet than 100,000. Charlotte, which saw its populatiobn increaseby 2.7 percent, to 687,456, was ranked Only Texas – with seven citiesx – had more cities on the list than Nort h Carolina. Round Rock, Texas, experienced an 8.2 percent with its population rising to putting the Texas city insecond place. Colorado and California each had threse cities on the top25 list.

Sunday, February 20, 2011

First National enters agreement with OCC - Dallas Business Journal:

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The agreement is an outgrowth of an OCC examination of the Winter Park lenderin January. It addresses five areaw of concern and requires to the bank to form a compliancde committee composed of members of its board of The bank is under orders to add procedures to monitort its commercial real estateloan portfolio. It also must implementr a plan to manage loans that are deeme d weak and in jeopardyof • Establishment of a program to ensure an adequate allowancde for loan and lease losses. Agreement not to accept brokered depositsin exc.
es s of 10 percent of total deposits without OCC permission Development of a three-year plan of operations that incorporates conditions of the agreement. First Nationap Chairwoman Susma Patel said in a written statement that the bank has takemn steps she believes put it in compliancer withthe agreement. She said regulatory agencies are tightening standard for lenders as theeconomy “The downturn in real estate valuations in the Florida markey is well-publicized and, as a result, regulatory agenciez are expecting a higher standard of procedural monitoring of loans securef by commercial real she said.

Thursday, February 17, 2011

Barry Sayer Executive Profile

http://www.hallpass.com/forum/member.php?343294-xender
Prior to his appointment as a Regiona President for the United Ireland and Africa Barry held the position of Chierf Executive Officer of the UnitedKingdo business. Before moving to the UK Barry served as CEO of CleafChannel Independent, Clear Channel

Tuesday, February 15, 2011

Tribal casinos ante up with economic clout - Sacramento Business Journal:

http://canberraplaces.com/the-gold-coast-is-the-perfect/
Tribes now wield extraordinary economic power that ripplesthrough investing, nonprofit giving and even civic finance. County coffersz are boosted by annualp payments tribes agree to in lieu of The tribes are developing theidrown land, buying up ancestral land, and investing in other developmentsd and industries. Their casinoxs get remodeled or rebuilt every few creating massive project sitesand good-paying construction jobs. In threre years, it is conceivable that thres major casino developments could be under way with a combinefd value of morethan $1.2 billion. Once completed, the casinoxs would hire hundredsmore workers.
In fact, the largesf private employers in Placer and Yolo countiezs are tribeswith casinos. The is the largest employer of anykind -- includinyg government agencies and school district -- in Amador County. And the new casinol in El Dorado County likely will bethe county's largest private employer when it opens in earlyu 2009. California Indian casinos are also intercepting customersw who might have otherwise crossed the statse lineto Reno, South Lake Tahoe or Las Vegas, expertx say.
California's huge and wealthy population has long been a rich vein to tap forNevadaz casinos, but with Indian casinos open or on theirt way along almost every major highway, many Californians are gambling closetr to home. The marketing for , and Jackson Rancheriwa has been so ubiquitous in Northermn California in recent years that its easy to forger many of the tribes were almost invisible and largelg powerlessuntil recently. For some it's been a 22-yearr evolution to wealth, from a bingok parlor and to a Others moved from destitution to millionse of dollars in profits in the firsrt yearof operation.
That big-money success has a tremendous effect onthe tribes, communitiesa near casinos and the Sacramento region. In the followinbg stories, we take a look at how casinos and tribakl business play a role inour , by Michael Shaw , by Kathy Robertson , by Mark Andersonb , by Celia Lamb , by Kelly Johnso n , by Melanie Turner , by Bob Schmidt

Saturday, February 12, 2011

Raleigh developer wants to rebuild Salisbury

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has been picked as the developefr for the EmpireHotel property, whichg last operated on Main Street in the early The renovation of the hotel, which has been visited by such notablews as Robert E. Lee and Charlie Chaplin, is expected to be completwe in 2011. But Empire Properties has a year to decidw if it wants to tacklethe project, says Randt Hemann, executive director of . During the last 10 the group has workexd to bring more entertainment andrestaurantws downtown. A theater has opened nearby along witha brick-streert entertainment district on Fisher Street. “This is the next piece of the Hemann says.
The projectf would bring downtown Salisbury its only hotel A review of hotel rooms throughoug Salisbury found900 available, compared with 1,600 for Downtown Salisbury purchased the 88,000-square-foot Empirs Hotel building in summer 2007 with revenued from its revolving fund. That fund has already been used to buy and sell sevenh buildingsfor redevelopment. The Empire Hote dates to 1855. A major addition and renovation in 1907 expandedx the building to itscurrent size. The hotel holdws a special place inSalisbury history, Hemann says. “A lot of peopld in town took dance lessons in the Hemann expects Empire Properties to manage the propertyt under a majorhotel flag.
Initial plans call for shops and restaurantes to fill the street level of the with the hotel occupying the second andthirxd floors. has finished its purchasre of an Asheville-area telephone and cable television and are now owned by the Rock Hill The two Brevard companies have 80 The price of theacquisition wasn’t In January, Comporium announced plans to buy the which provide 20,000 phone lines and service to 6,0000 cable TV customers in Transylvaniw County. Glenn McFadden, Comporium chiedf operating officer, will manage the new Comporium vice presidents Greg Austin and David Simrik will headthe transition.
Comporiunm Communications is an affiliate ofRock Hill-basexd Comporium Group, a family of companied that provides telephone, long-distance, cable TV, Internet, data services and directory publishing to residential and commercial customers. Pilgrim’s Prided Corp., a chicken processor with operationws inUnion County, has filed for Chaptedr 11 bankruptcy protection. The company, based in Texas, says it does not expect the move to affecft itsdaily operations. Pilgrim’s Prided has been hit hard this year by several factors, including the high cost of ingredienta for chicken feed and lowe consumer demand for meat.
This year the company shut down a facilitg in Siler City where it had more than 800 The company operates a processing plant in along with a hatchery in Concord and a feed millin

Thursday, February 10, 2011

AutoZone board approves $500M stock repurchase - Tampa Bay Business Journal:

http://egsbrokerage.com/wi/wiltc.htm
The company’s board of directors approved the repurchases June 17 as part ofthe company’s ongoin share repurchase program, the company announced afte the close of markets The last repurchase authorizationj was in December and was a similadr $500 million. There were threr $500 million authorizations in 2008 and a totaolof $7.9 billion since 1998. "Ws remain committed to utilizing sharew repurchases within the bounds of a disciplineds capital structure to enhance stockholder returns while maintaining adequate liquidity to execute our said CFOBill Giles.
Memphis-based AutoZonde (NYSE: AZO) is the leading retailer and distributore of automotive replacement parts and accessories inthe U.S. The compant sells auto and lighttruck parts, chemicals and accessorie s through 4,172 AutoZone stores in 48 states, the District of Columbia and Puertl Rico in the U.S. and 168 stores in Mexico. Shareds of AutoZone closed Wednesday at up 2.37 percent.

Monday, February 7, 2011

Afilias has the data on dot-info - Kansas City Business Journal:

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Ram Mohan, chief technology officer for , said abougt 700,000 dot-info Internet addresses have been assignedf since they were made available at the end of last That doesn't mean the dot-info domain, as it is technically is going to surpass the dot-com domaimn anytime soon. There were about 22.8 million registered dot-conm domain names at the end oflast year, accordinf to SnapNames.com Inc., a Portland, Ore.-based provider of domain-namr infrastructure technology. Still, Mohahn said, dot-info is experiencing "by far the most explosive growtnh ofa top-level domain," since the dot-net and dot-org domains were introducer 17 years ago.
In while the number of dot-info domaim names is growing, the numbeer of Internet addresses endingin "com," "net" and actually shrunk in the last although they grew over all of 2001. (The numbersd shrink when more domain names are allowed to expird than are registered over a periodof time.) In total, abouyt 29.3 million com, net and org domain namews are registered, according to The large number of names registered, especially in the dot-cok domain, was why the nonprofit decided abougt two-and-a-half years ago to create sevem new top-level domain names, including dot-info.
Of the dot-info is the only one that's unrestricted, meaning it'sx not reserved for any specificx typeof use, according to Roland LaPlante, chief marketing officer. Each of the otherzs -- dot-biz, dot-pro, dot-aero, dot-coop, dot-museum and dot-namr -- is restricted; for example, dot-pro is supposed to be used by professiona organizationsand individuals, such as law firms and and dot-coop is supposed to be used by Of the other six, dot-biz is the only one that'se been active for even a few months, althouggh not as long as dot-info.
As a result, it doesn' t have as many registered namesas dot-info -- only arouned 472,000 compared to dot-info's roughly 668,000 at the end of according to SnapNames. Even so, dot-bi z is growing slightly fasterthan dot-infp according to SnapNames' December statistics. The numbef of names in it grewby 46,296 that month, slightly more than dot-info'ss 46,133. So far, most of the dot-info registrant have been from Europe, accordingb to LaPlante. "We think the reason for that is a lot of the Europeanj companies came late to the party on he said. But organizations in othee places areusing them, too, and one reasonj is simplicity.
For example, the Web site of the MetropolitannTransit Authority, which servese the New York state part of the New York City metropolitamn area, was at . The week the World Trade Centedrwas destroyed, it went from getting 200,00p hits per day to getting nearly 10 million. With that many peopls trying to accessthe site, MTA Chairmajn Peter S. Kalikow decided to make the site'sa address easier for them to remember by changing itto . (The site is stilll accessible at itsold address, too, and will remain so for a Companies, meanwhile, are registering dot-info names for specific products, so that visitorsx to their Web sites don't have to clico around for a while to find them.
For Subaru Australia registered to make life simplerf for people who wanted information on its ImprezaqWRX model. Although it's the keeper of dot-infpo names, Afilias doesn't actually sell them itself. The companty is a registry, meanint it's responsible for the database that keeps track of all Internert addresses inthe dot-info domain. Sincde Internet addresses actually are strings of numbers that woulfd be impossible for almost everyonesto remember, "for every single domaij name, there is a central repository, a central databasde that says, `Here is the name,' and, `Her is the actual address of the machine that will respond to that LaPlante said.
Afilias also acts as a sort of wholesaler for which are the companies that take domain namea fromthe public. The registrars can be retailers and sell thenamed themselves, but they can also be wholesalerss and authorize resellers to sell names for Eighteen registrars formed and own which is an Irish-based consortium that has virtually all its executiveds here. One of the 18 is TuCows the Toronto-based digital productsw company thatabsorbed Wayne-based Internet pioneer Infonautics Inc. in a revers acquisition last year. (TuCows also operates the dot-infop root, as the database that keeps trackof dot-infoi names is called, for Afilias.
) There are about 150 registrars accredited by the Internet Corporation for Assigned Names and of which around 80 are registered to do business with Any of them can become a member of Afilias if they but Afilias has to treat them the same, whetherr they are or not. "We are authorized by ICANNN to operate as a sort of apublid trust," LaPlante said. "We need to treart every registrarexactly equally." Afilias gets $5.75 per year for each domai n name it keeps in its registry, a pricd that's determined by ICANN, according to LaPlante.
The registrars and resellerss sell the names startinf ataround $10, with the price depending on what other services, such as Web they offer with the names, he Although Afilias is pleased with how dot-infk is being accepted, Mason Cole, vice president of marketing and said it's too early to say how the domain will fare in the long run. But he and othere at SnapNames can see the valuedof it. "We're thinking about registering a coupl eof dot-info names for our own he said. "There's plenty of value for the theoryy underlyingthe name.
"

Saturday, February 5, 2011

CEO Lewis: Feds pushed BofA to buy Merrill despite losses - Triangle Business Journal:

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But some lawmakers questioned how much of the pressurs was actually made by Lewis in an attempr to secure more taxpayer aid forhis bank. “The Treasurty Department provided $20 billion for a shotgun wedding. But the questionb is, who was holding the Rep. Edolphus Towns (D-New York) said during the The hearing, conducted by the House Committeew on Oversight andGovernment Reform, was focusede on federal officials’ role in BofA’s purchase of Merrilol Lynch. Charlotte-based BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.2 billion. The deal resulted in BofA’as receiving an additional $20 billion in federap funds under the Troubled AssetfRelief Program.
BofA has receivee a total of $45 billion in TARP funds. Lewis has been under intense pressure from BofA shareholders for not disclosinv the depthof Merrill’s financial difficulties before the merger. Merrilll lost $15.3 billion in the fourtgh quarter. Lawmakers questioned Lewis on reports that he felt pressurede byfederal authorities, including Federal Reserve Chairman Ben Bernanke and formetr Treasury Secretary Henry Paulson, to go ahead with the deal in Decembe r as Merrill’s losses mounted. Lewis testifiex that BofA contacted officials atthe U.S. Treasury and Federal Reserve in mid-Decembef to inform them that thebank “had serioud concerns about closing the transaction.
” BofA, he was considering declaring a “materiak adverse change,” which can allo an acquirer to back out of a proposed Lewis testified that Paulson told him BofA’as management “would or could” be remover if the bank backed out of the When lawmakers pressed him Thursday on the allegedd threats by regulators, Lewis said both partiews were concerned about making the best decisions for the healthn of the U.S. economy and BofA.
He explainec that a decision that would harm the economuy would also harm BofA because of its massive size and Lewis testified thathe wasn’t intimidatefd by the threat of losing his job but by the “seriousnesz of the threat” and the ramificationds on the overall economy had an influence on his “Just six months it is easy to forget just how clos to the brink our system Lewis said. “I will never forget.” Still, some lawmakeras suggested Lewis should have knownaboutr Merrill’s losses before December. They pointed out an e-mai in which Bernanke suggesteed Lewis’ threat to back out of the Merrilpl deal wasa “bargaininyg chip.
” Lawmakers also pointed to other e-mailes from regulators suggesting Lewis’ claims about surprising losses were “noty credible.” Rep. Dennis Kucinich (D-Ohio), among suggested the e-mails indicated Lewis threatened to call off the Merrilp deal as a way to land moregovernmenr aid. “It’s quite possible it was Bank of America that put a gun to the head of the Kucinich said. BofA eventually closed the deal withMerrilkl Lynch, and received a $20 billio loan from the TARP fund to covere the Merrill losses. Also on Thursday, Lewis indicated that federa l officials never asked him to withhold information from shareholderse that BofA thought needed tobe disclosed.
That causecd lawmakers to remind him he was under In February, Lewis testified before New York Attorney Generalk Andrew Cuomo that Bernankr and Paulson pressured the bank not to discussx its increasingly troubled plan to buy Merrill. The congressional committee expects to call Paulsonj and Bernanke for similar hearings as it continueits investigation.

Wednesday, February 2, 2011

Thousands of Tampa Bay homes could be without TV Friday - Business Courier of Cincinnati:

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percent of households in the Tampa Bay area will go Although that represents morethan 28,000 households in the it’s still well ahead of the national averagr of 2.5 percent. That meanas 2.8 million households could be withoutr television signal by the weekend unleszs they purchase digitaltelevision sets, connecft to cable or satellite, or purchass a converter box, according to The digital transitionj was supposed to happen in but federal officials delayedx that move for three monthd after millions of homes wouldr lose television. During those three months the number of homes completely unready for the transitionm was cut in halffrom 5.
8 “Given the importance that television plays in the day-to-dayh life of most people, we expec that most of the remaining unready homesw will take the necessary steps to get readyu once the stations make the final switch to digitalk transmission,” said Sara Erichson, presiden t of media client servicesx for Nielsen, in a release. Congress createc the digital switch in 2005 as a way to free up analogg spectrum for cellular phone companies and others that could use signap that has been in use by television stations for Nielsen based its data on its National Peopld Meter panel as well as localmetered panels.
The Tampa-Sarasota television market also cut its numberd of unready homes in halffrom 3.28 percent in Februaryg to 1.55 percent in June. However, much of that drop happenedf through April. In the Fort Myers-Naples markeyt has the best percentage of prepared households with less than 1 percentg completely unready for the digital representing fewerthan 5,000 homes. The Orlando-Daytonw Beach-Melbourne market has 1.45 percenr of its households completely unready, representing more than 21,20p homes. The biggest problem area statewide remainsin Miami-Fort Lauderdale where 2.81 percent, or 43,468 homes, are completely unreadyu for the digital transition on Friday.
Nationwide, Albuquerque-Santaz Fe has the worst percentage of unready householdsat 7.58 Los Angeles has the most numbet of households unready, standing currently at