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Wednesday, June 29, 2011
Discovery of the Asian longhorned beetle in Ohio means trouble - Farm and Dairy
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Sunday, June 26, 2011
SolarCity lands financing from US Bancorp - San Francisco Business Times:
fugowirik.wordpress.com
The state’s largest residential installer saidWednesday it’ s landed additional financing from Communitt Development Corp. for its solar lease progra that will boost its installations and help it clear its backloof customers. Foster City-based SolarCity informed customers in January that it wouls delay installations for customera participating in itslease program, after investmentf bank , its largest stopped funding the program. Most solad companies have lost access to financing through the credir crunch and recession as theit investors closed or lost the ability to use the tax creditsz that made solar acompelling investment.
SolarCity has continueds to install solar systems at a rate of abouty 100per month. Some of those included customers who paid cash for their New customers who wanted to take advantaged of the solar which limitsthe up-front costs of having a systemj installed and charges customers at a monthly rate, have had to wait up to eighy months for their systems. The funding will also allo w SolarCity to continue to grow its commercial solar business. SolarCity installed solar systemson ’s headquarters in Mountain View, Grac e Cathedral in San Francisco and others through power purchass agreements, which are structured to take advantagw of tax credits.
With the US Bank financinvg however, SolarCity will be able to fund thosre projects and residential projects from thesame “Now that we have clear, long-term visibilityh in solar lease and commercial PPAs we are going to be hiring a tremendoua amount of installers,” said SolarCity CEO Lyndon Rive. SolarCitty wouldn’t disclose the size of the US Bank fund or how many installationa it could completethis year. The compan y said it sent an email to customers on its waitinyg list Tuesday night with instructions on finding their new projected installation dateon SolarCity’s web site.
US Bancorop Community Development Corporation is a division of US parent toUS Bank, the sixt h largest commercial bank in the Unitecd States. “Today’s announcement is only the beginning. We look forwardf to making additional investmentswith SolarCity, and believe this partnershilp will ultimately enable thousands of Americamn homeowners and businesses to adopt cleaner powe r and save money on energy costs in the said Darren Van’t Hof, vice president of new markets and historic investments for US Bancor p Community Development Corp.
, in a
The state’s largest residential installer saidWednesday it’ s landed additional financing from Communitt Development Corp. for its solar lease progra that will boost its installations and help it clear its backloof customers. Foster City-based SolarCity informed customers in January that it wouls delay installations for customera participating in itslease program, after investmentf bank , its largest stopped funding the program. Most solad companies have lost access to financing through the credir crunch and recession as theit investors closed or lost the ability to use the tax creditsz that made solar acompelling investment.
SolarCity has continueds to install solar systems at a rate of abouty 100per month. Some of those included customers who paid cash for their New customers who wanted to take advantaged of the solar which limitsthe up-front costs of having a systemj installed and charges customers at a monthly rate, have had to wait up to eighy months for their systems. The funding will also allo w SolarCity to continue to grow its commercial solar business. SolarCity installed solar systemson ’s headquarters in Mountain View, Grac e Cathedral in San Francisco and others through power purchass agreements, which are structured to take advantagw of tax credits.
With the US Bank financinvg however, SolarCity will be able to fund thosre projects and residential projects from thesame “Now that we have clear, long-term visibilityh in solar lease and commercial PPAs we are going to be hiring a tremendoua amount of installers,” said SolarCity CEO Lyndon Rive. SolarCitty wouldn’t disclose the size of the US Bank fund or how many installationa it could completethis year. The compan y said it sent an email to customers on its waitinyg list Tuesday night with instructions on finding their new projected installation dateon SolarCity’s web site.
US Bancorop Community Development Corporation is a division of US parent toUS Bank, the sixt h largest commercial bank in the Unitecd States. “Today’s announcement is only the beginning. We look forwardf to making additional investmentswith SolarCity, and believe this partnershilp will ultimately enable thousands of Americamn homeowners and businesses to adopt cleaner powe r and save money on energy costs in the said Darren Van’t Hof, vice president of new markets and historic investments for US Bancor p Community Development Corp.
, in a
Friday, June 24, 2011
Stinson Morrison forms special legal practice to track economic stimulus - Wichita Business Journal:
mastering-input.blogspot.com
The nine-member group consists of Missouri attorneys with varyinggovernmental experience, ranging from former chieft of staff to the Missouri governor to formet general counsel for the . the team doesn’t exclude Stinson’w Wichita branch or its other markets. With the aid of local attorneys can access theKansaa City, Mo.-based group with relative ease. “Becausew our firm is in effect that groulpis here,” says David Bengtson, managing partner of Stinson’s Wichits branch.
“I think it gives our Wichita clients access to that Other law firms say they are paying attention to the stimulus legislation and the economixc climate but have stopped short of forming specializedpracticwe teams. The Wichita legal industry, local attorneyd say, remains strong overall despite decreases in certain practice such as mergers and acquisitions and realestate law. “We haven’g seen the dramatic impacts the cities on the coastwshave seen,” Bengtson says. Employmenr litigation, attorneys say, likely will increase locally becausew more companies are layingoff workers. Changess in tax laws also could lead to the need for additionalplegal counsel.
“Government changes always add work to attorneyeand accountants,” says Dan Pierre, who is a membert of the management committee at Hinkle Elkouri Law Firm LLC. “Alol of this activity is goin to do nothing but increase the need forlegao services.” Stinson, meanwhile, is well-positioned for its new practice group — called the Stimulus Strike Forcw — because of its expertise in governmenr law, says Jane Dueker, an attorney who practices at Stinson’s St. Louis officed and a member of theStrike Force.
Stinson plans to have the team in place for a leasty thenext year, if not Since the team’s inception, members have fieldef dozens of calls and are working on nearlyt a dozen projects of varyinf sizes for its clients. Otherws say the Stinson stimulus team couldd be avaluable “The practice of law has become both globapl and highly specialized,” says Harvey Sorensen, a partner at LLP. Stimuluws money earmarked for infrastructure could lead to more businese for attorneys in certain such as realestate law, he “Obviously this stimulus package is uncharted waters,” Dueker “It’s important to know the logistics of how this is goinfg to get done.
” That’s why Stinson says its stimulusw team is beneficial beyond Missouri. “It can benefitf the entire Midwest because of theclosre connections,” Dueker says. “The stimulu is very budget- and appropriations-oriented. “There’s a lot of movinyg pieces. The trick is to make sure all of the differeny prongs are aware ofyour
The nine-member group consists of Missouri attorneys with varyinggovernmental experience, ranging from former chieft of staff to the Missouri governor to formet general counsel for the . the team doesn’t exclude Stinson’w Wichita branch or its other markets. With the aid of local attorneys can access theKansaa City, Mo.-based group with relative ease. “Becausew our firm is in effect that groulpis here,” says David Bengtson, managing partner of Stinson’s Wichits branch.
“I think it gives our Wichita clients access to that Other law firms say they are paying attention to the stimulus legislation and the economixc climate but have stopped short of forming specializedpracticwe teams. The Wichita legal industry, local attorneyd say, remains strong overall despite decreases in certain practice such as mergers and acquisitions and realestate law. “We haven’g seen the dramatic impacts the cities on the coastwshave seen,” Bengtson says. Employmenr litigation, attorneys say, likely will increase locally becausew more companies are layingoff workers. Changess in tax laws also could lead to the need for additionalplegal counsel.
“Government changes always add work to attorneyeand accountants,” says Dan Pierre, who is a membert of the management committee at Hinkle Elkouri Law Firm LLC. “Alol of this activity is goin to do nothing but increase the need forlegao services.” Stinson, meanwhile, is well-positioned for its new practice group — called the Stimulus Strike Forcw — because of its expertise in governmenr law, says Jane Dueker, an attorney who practices at Stinson’s St. Louis officed and a member of theStrike Force.
Stinson plans to have the team in place for a leasty thenext year, if not Since the team’s inception, members have fieldef dozens of calls and are working on nearlyt a dozen projects of varyinf sizes for its clients. Otherws say the Stinson stimulus team couldd be avaluable “The practice of law has become both globapl and highly specialized,” says Harvey Sorensen, a partner at LLP. Stimuluws money earmarked for infrastructure could lead to more businese for attorneys in certain such as realestate law, he “Obviously this stimulus package is uncharted waters,” Dueker “It’s important to know the logistics of how this is goinfg to get done.
” That’s why Stinson says its stimulusw team is beneficial beyond Missouri. “It can benefitf the entire Midwest because of theclosre connections,” Dueker says. “The stimulu is very budget- and appropriations-oriented. “There’s a lot of movinyg pieces. The trick is to make sure all of the differeny prongs are aware ofyour
Wednesday, June 22, 2011
Orlando visitor traffic up in 2008 - Orlando Business Journal:
tatyanagepoji.blogspot.com
percent from 2007 to 2008, with 48.9 million peoples visiting the region, according to the The bureai arrived at the estimatd using data from travel research firm andthe U.S. Commerces Department. The bureau said the total was the seconcto 2005, when 49.3 million people visited the area. However, visitor traffic is expectee to be down significantlythis year, based on fallin resort tax collections and numbers of the past five Orange County reported June 2 that resortt tax collections were down 16 percenyt in April and revenue per available room durinhg the same period was down 17.3 percent, accordingg to Smith Travel. The increase in 2008 was driven byan 18.
9 percen rise in international visitors. Accordingh to the bureau, which used its own data and surveg information from theCommerce Department, 3.37 million foreign touristsa came to the Orlando area duringf the year. Travel from Canadq rose 20.1 percent to 940,000 persons. About 959,000 travelere came from the United Kingdom, the largest sourcre of overseas traffic, a 3.1 percent decrease from 2007. Domesticv visitation, which accounts for 78 percent ofthe region’e tourist traffic, fell 0.1 percent during the from 45.9 million in 2007 to 45.5 million in 2008.
percent from 2007 to 2008, with 48.9 million peoples visiting the region, according to the The bureai arrived at the estimatd using data from travel research firm andthe U.S. Commerces Department. The bureau said the total was the seconcto 2005, when 49.3 million people visited the area. However, visitor traffic is expectee to be down significantlythis year, based on fallin resort tax collections and numbers of the past five Orange County reported June 2 that resortt tax collections were down 16 percenyt in April and revenue per available room durinhg the same period was down 17.3 percent, accordingg to Smith Travel. The increase in 2008 was driven byan 18.
9 percen rise in international visitors. Accordingh to the bureau, which used its own data and surveg information from theCommerce Department, 3.37 million foreign touristsa came to the Orlando area duringf the year. Travel from Canadq rose 20.1 percent to 940,000 persons. About 959,000 travelere came from the United Kingdom, the largest sourcre of overseas traffic, a 3.1 percent decrease from 2007. Domesticv visitation, which accounts for 78 percent ofthe region’e tourist traffic, fell 0.1 percent during the from 45.9 million in 2007 to 45.5 million in 2008.
Sunday, June 19, 2011
Fannie Mae gets 3rd CFO in 3 months - Orlando Business Journal:
omagyvoham.wordpress.com
Johnson comes by way of Hartford-Conn.-basedf insurance giant , where he was CFO. Befores that, he was CFO at , and prior to that he served for 12 years at ininvestmenrt banking. “With his broad and deep financialo services and capital markets David will help lead Fannie Mae as we assisg the market during this unprecedentef correction and weather the challenges facing all financialcompaniese today,” said Herbert Allison, chief executivr officer in a statement. “Going as the financial system and industry undergsignificant change, David will also help to lead Fannier Mae’s transition to the future.
” The CFO role has been in flux over the past few monthss at Washington, D.C.-based Fannie Mae FNM). In Late August, 12 days befored the federal government seizexdthe company, ousted the CEO, and put it under the conservatorshipo of its regulator, Fannie Mae made several manageriakl changes that included the replacement of then CFO Stephenm Swad who “[chose] to leave the company [to] pursue other opportunities in private equity,” according to a It’s not clear if who had been on the job less than 18 was fired or resigned, and Fannie Mae didn’t responcd to a request for clarification. At that David Hisey was announcedas Swad’s replacement.
He had previouslyt been senior vice presidentand controller. Now with Johnsom coming into theCFO role, Hisey will serve as executive vice president and deputy chief financiall officer, with responsibilities including financial planningg and analysis, business unit finance, accounting, financial controls and the financial reporting and income tax functions.
Johnson comes by way of Hartford-Conn.-basedf insurance giant , where he was CFO. Befores that, he was CFO at , and prior to that he served for 12 years at ininvestmenrt banking. “With his broad and deep financialo services and capital markets David will help lead Fannie Mae as we assisg the market during this unprecedentef correction and weather the challenges facing all financialcompaniese today,” said Herbert Allison, chief executivr officer in a statement. “Going as the financial system and industry undergsignificant change, David will also help to lead Fannier Mae’s transition to the future.
” The CFO role has been in flux over the past few monthss at Washington, D.C.-based Fannie Mae FNM). In Late August, 12 days befored the federal government seizexdthe company, ousted the CEO, and put it under the conservatorshipo of its regulator, Fannie Mae made several manageriakl changes that included the replacement of then CFO Stephenm Swad who “[chose] to leave the company [to] pursue other opportunities in private equity,” according to a It’s not clear if who had been on the job less than 18 was fired or resigned, and Fannie Mae didn’t responcd to a request for clarification. At that David Hisey was announcedas Swad’s replacement.
He had previouslyt been senior vice presidentand controller. Now with Johnsom coming into theCFO role, Hisey will serve as executive vice president and deputy chief financiall officer, with responsibilities including financial planningg and analysis, business unit finance, accounting, financial controls and the financial reporting and income tax functions.
Friday, June 17, 2011
N.C. foreclosure filings drop - Wichita Business Journal:
http://oldecolomatheatre.com/About.htm
North Carolina ranked 36th in the natiom for foreclosure filingslast month. Foreclosure filings in the stat e fellnearly 16.1 percengt in May from April. Across the foreclosure filings rose 18 percent in May from ayear ago. Therr were 321,480 foreclosure filings nationwide, which affected one in evert 398 U.S. households. Nevada, California and Florida postesd the top foreclosure rateslast month. Filings nationwide fell 6 percentr in Mayfrom April. Irvine, Calif.-based RealtyTra tracks default notices, auction-sale notices and bank Its figures exceed those compiled bythe N.C. Commissionef of Banks.
The company counts every foreclosurew filing, including multiple filings for a single The commissioner counts each household only regardless of the number of filingsit
North Carolina ranked 36th in the natiom for foreclosure filingslast month. Foreclosure filings in the stat e fellnearly 16.1 percengt in May from April. Across the foreclosure filings rose 18 percent in May from ayear ago. Therr were 321,480 foreclosure filings nationwide, which affected one in evert 398 U.S. households. Nevada, California and Florida postesd the top foreclosure rateslast month. Filings nationwide fell 6 percentr in Mayfrom April. Irvine, Calif.-based RealtyTra tracks default notices, auction-sale notices and bank Its figures exceed those compiled bythe N.C. Commissionef of Banks.
The company counts every foreclosurew filing, including multiple filings for a single The commissioner counts each household only regardless of the number of filingsit
Wednesday, June 15, 2011
Morphotek working with National Cancer Institute - Philadelphia Business Journal:
llrx-royce.blogspot.com
Prostate cancer is the most commonj cancer diagnosedin men. Nearly 220,000 men were diagnosed with the diseasdlast year, according to the . Philip Sass, the Exton, Pa., biopharmaceuticak company's executive vice presidengt and chiefoperating officer, said the agreement adds to Morphetek'w existing collaborative relationship with NCI to develop novel therapiews to treat various types of cancer.
"Thse NCI brings significant expertise in the evaluatiojn and validation of lead antibodiesto cancer-specifidc proprietary targets," Sass said, "whicj complements Morphotek's expertise in the development of antibodies as potentiakl cancer treatments through biological and immunological Moprhotek is a subsidiarty of , a Japanese pharmaceutical It is developing treatments for cancer, rheumatoied arthritis, and infectious disease.
Prostate cancer is the most commonj cancer diagnosedin men. Nearly 220,000 men were diagnosed with the diseasdlast year, according to the . Philip Sass, the Exton, Pa., biopharmaceuticak company's executive vice presidengt and chiefoperating officer, said the agreement adds to Morphetek'w existing collaborative relationship with NCI to develop novel therapiews to treat various types of cancer.
"Thse NCI brings significant expertise in the evaluatiojn and validation of lead antibodiesto cancer-specifidc proprietary targets," Sass said, "whicj complements Morphotek's expertise in the development of antibodies as potentiakl cancer treatments through biological and immunological Moprhotek is a subsidiarty of , a Japanese pharmaceutical It is developing treatments for cancer, rheumatoied arthritis, and infectious disease.
Monday, June 13, 2011
Caplan: Solutions at hand for two common landscape pests - Evansville Courier & Press
oc697vot.blogspot.com
Caplan: Solutions at hand for two common landscape pests Evansville Courier & Press They are most commonly found on junipers, red cedars and arbor vitae. Early in June, the insects hatch from eggs that wintered in the old bags attached to tree branches. As soon as the young worms appear, they start to spin bags and continue to enlarge ... |
Friday, June 10, 2011
Fujitsu division staying in Silicon Valley - Pacific Business News (Honolulu):
asafevboriegum.blogspot.com
Two representatives of Schwartz Communications told the Busineses Journal on Tuesday that the company wasexiting Sunnyvale. Fujitsu Computer Products of America is a unit of Japanesse electronics giantFujitsu Ltd. But Joel Hagberg, vice presidenf of marketing for FujitsuComputer Products, said the statementr was "completely false." "W e are not leaving Sunnyvale, and we are not moving anywhere," Hagbergt said. A WARN notice, however, was filed with the statse Employment Development Department showin 54 workers will be laid off from Fujitsj Computer Products as ofJuly 1.
Hagbergf acknowledged the WARN notice but said 90 percent of employees inthe company's hard disk drivr division will transition to a new company following the purchase of that division by Toshib a Corp. He didn't say exactly where the new company will be locateed but said it will remain inSilicon Valley. Toshiba announced in January that it plannes toacquire Fujitsu's hard disk drive businesss in a deal that will make Toshiba a majoer player in the HDD market and let Fujitsu shed a money-losing business. Fujitsu Ltd. has numerous companies in several buildings on the Arquesd Avenue campusin Sunnyvale, which include Fujitsu Computetr Products of America and Fujitsiu America.
On Tuesday Ron Mitchell, senior vice presiden t of FujitsuAmerica -- which he called the “dominan t subdivision” of its Japaneswe parent -- said the Sunnyvale locationb is strategically important. He described it as the “centetr of gravity” for not only its executiv e team but for a number ofFujitsu companies, including Fujitsu’s R&D organization, data centere operations and Fujitsu Management Services. “That acquisitiom has impacted them,” Mitchell said, referring to Fujitsu Computetr Productsof America.
the 16th largest employer in Sunnyvale, has been hammeresd by the economy "like every otheer company in the valley," said technology analysf Charles Kingof Pund-IT in "They’re been going throughy some difficult times from a competitivew standpoint at the same time their parent corporation is going through some severes changes," King said. Among the difficulties, King are the dissolution of the agreement Fujitsyu had withSiemens AG, which Fujitsu president Kuniaki Nozoe described in March as an integration of that unit into Fujitsui as a growth strategy.
"Going back a few yearx to the dotcom bust, the lesson most large customers came away with wasthat it’s smarteer to deal with larger, well established companiexs than what you might classify as a marginal player," King said. In Santa Clara-based Sun Microsystemss Inc.’s (NASDAQ:JAVA) announcement that it is canceliny its Rock chip project also may have thrown Fujitsyuinto turmoil. Sun has been usingh Fujitsu chips while it developed its own product to competre against server chipsfrom Armonk, N.Y.-based International Business Machines Corp. and Santa Clara-based Intel Corp. (NASDAQ:INTC).
Mitchell said Sun’sx announcement is a positive onefor “It puts more emphasis on the SPARC chip that is the basi for the platform,” Mitchell said. “It’s good news for Fujitsuh globally.”
Two representatives of Schwartz Communications told the Busineses Journal on Tuesday that the company wasexiting Sunnyvale. Fujitsu Computer Products of America is a unit of Japanesse electronics giantFujitsu Ltd. But Joel Hagberg, vice presidenf of marketing for FujitsuComputer Products, said the statementr was "completely false." "W e are not leaving Sunnyvale, and we are not moving anywhere," Hagbergt said. A WARN notice, however, was filed with the statse Employment Development Department showin 54 workers will be laid off from Fujitsj Computer Products as ofJuly 1.
Hagbergf acknowledged the WARN notice but said 90 percent of employees inthe company's hard disk drivr division will transition to a new company following the purchase of that division by Toshib a Corp. He didn't say exactly where the new company will be locateed but said it will remain inSilicon Valley. Toshiba announced in January that it plannes toacquire Fujitsu's hard disk drive businesss in a deal that will make Toshiba a majoer player in the HDD market and let Fujitsu shed a money-losing business. Fujitsu Ltd. has numerous companies in several buildings on the Arquesd Avenue campusin Sunnyvale, which include Fujitsu Computetr Products of America and Fujitsiu America.
On Tuesday Ron Mitchell, senior vice presiden t of FujitsuAmerica -- which he called the “dominan t subdivision” of its Japaneswe parent -- said the Sunnyvale locationb is strategically important. He described it as the “centetr of gravity” for not only its executiv e team but for a number ofFujitsu companies, including Fujitsu’s R&D organization, data centere operations and Fujitsu Management Services. “That acquisitiom has impacted them,” Mitchell said, referring to Fujitsu Computetr Productsof America.
the 16th largest employer in Sunnyvale, has been hammeresd by the economy "like every otheer company in the valley," said technology analysf Charles Kingof Pund-IT in "They’re been going throughy some difficult times from a competitivew standpoint at the same time their parent corporation is going through some severes changes," King said. Among the difficulties, King are the dissolution of the agreement Fujitsyu had withSiemens AG, which Fujitsu president Kuniaki Nozoe described in March as an integration of that unit into Fujitsui as a growth strategy.
"Going back a few yearx to the dotcom bust, the lesson most large customers came away with wasthat it’s smarteer to deal with larger, well established companiexs than what you might classify as a marginal player," King said. In Santa Clara-based Sun Microsystemss Inc.’s (NASDAQ:JAVA) announcement that it is canceliny its Rock chip project also may have thrown Fujitsyuinto turmoil. Sun has been usingh Fujitsu chips while it developed its own product to competre against server chipsfrom Armonk, N.Y.-based International Business Machines Corp. and Santa Clara-based Intel Corp. (NASDAQ:INTC).
Mitchell said Sun’sx announcement is a positive onefor “It puts more emphasis on the SPARC chip that is the basi for the platform,” Mitchell said. “It’s good news for Fujitsuh globally.”
Wednesday, June 8, 2011
Lions Gate nominates Rachesky to board - Dayton Business Journal:
aleshnikovenil.blogspot.com
Rachesky, through his LLC, is the largesyt shareholder in Lions witha 19.8 percent MHR Fund Management will support management's slate of nomineez at the meeting, according to a releasd from Lions Gate. The statementr said that the rest of the slate will be announcedd at alater time. The nomination of Racheskyy is likely in response to pressure from activisf investorCarl Icahn, who has been upping his stakse recently. Rachesky is a former Icahn advisor. Rumors have persisted as to whetherrIcahn . He has been critical of the studio'sa expenses and expenditures, especially . Icah currently holds a 16.9 percent stakw in the company.
Should an individual gain more than 20 percentg ofthe studio, a change of control threshol d would be surpassed, potentially resulting in a default on the company's $340 million credit facility. Santa Monica-based Lionas Gate (NYSE: LGF) is a movi e studio. Among its titles are the TylerPerryh "Madea" comedies and the horror franchise.
Rachesky, through his LLC, is the largesyt shareholder in Lions witha 19.8 percent MHR Fund Management will support management's slate of nomineez at the meeting, according to a releasd from Lions Gate. The statementr said that the rest of the slate will be announcedd at alater time. The nomination of Racheskyy is likely in response to pressure from activisf investorCarl Icahn, who has been upping his stakse recently. Rachesky is a former Icahn advisor. Rumors have persisted as to whetherrIcahn . He has been critical of the studio'sa expenses and expenditures, especially . Icah currently holds a 16.9 percent stakw in the company.
Should an individual gain more than 20 percentg ofthe studio, a change of control threshol d would be surpassed, potentially resulting in a default on the company's $340 million credit facility. Santa Monica-based Lionas Gate (NYSE: LGF) is a movi e studio. Among its titles are the TylerPerryh "Madea" comedies and the horror franchise.
Monday, June 6, 2011
Tour de l'Ile bike event delights cyclists, irritates motorists - CTV.ca
xosawewaqa.wordpress.com
Tour de l'Ile bike event delights cyclists, irritates motorists CTV.ca The ride is a top annual event for the bicycle-favouring population but for motorists it can be one of many street-closure headaches. Other inconveniences to motorists and bus-riders on the weekend included roadwork on the Champlain Bridge. ... |
Friday, June 3, 2011
ITEX Announces Results for Third Quarter of Fiscal 2009
grearqakususi1426.blogspot.com
June 9 /PRNewswire-FirstCall/ -- ITEX Corporationm (OTC Bulletin Board: ITEX), The Membershio Trading Community(SM), a leading marketplacde for cashless business transactions inNorth America, today filed its Form 10-Q with the Securities and Exchangre Commission and announced results for its fiscal 2009 thircd quarter ended April 30, 2009. "ITEXX continues to be resilient to the fallouft from the globalfinancial crisis," said , Chairman and CEO. "We realizes a small increase in revenues for the quartedr with expenses and earnings in line with whatwe anticipated.
"Our cash from operations was strong and we continued to investf inour technology, support and sales, marketing and advertising effort s during the quarter. Additionally, we elected to pay off our remainintg note balance incurred as a result of the 2007 Intagik TradingCommunity acquisition, eliminating all long term debt. All four acquisitionxs entered intosince 2005, totaling more than $8 milliob in cash payments, have been paid in full and are fullyy integrated. We plan to continue to capitalize on the opportunities that arise in difficulfeconomic conditions." Mr.
White continued, "We are pleased that our web servicesz initiative has had earlysuccesses - providingy new revenue streams for the Company in additiojn to expanding trading opportunitiese for our members. Our firstg web services agreement was executed during the quarterwith Idearc, LLC. For a one-timer platform subscription fee and a monthly transactiohprocessing fee, ITEX hosts the web client relationship management platform and is responsiblde for all transactional processing.
We also providr a proprietary processing technology that enables memberas of any of our web services cliente to seamlessly accept the digital currency of another webservicew client; a very exciting tool for all users. In our second web serviced agreement executedin May, we adderd services to selected areas of Central and South America. -- Revenue of $3,981,000 compared to $3,871,000 in the same perios last year; -- Income from operations of $344,000 compareed to $408,000 in the same period last year; -- Net incomee of $224,000 compared to $230,000 in the same periocd last year; -- Net cash provided from operationdsof $1,535,000 compared to $1,770,000 in the same nine-montu period last year; -- Cash at end of periox was $1,194,000 compared to $1,061,000 at July 31, 2008; -- Signed our first web services agreement with a Fortune 1000 compan y which included a one-time $350,000 platform subscription fee and a monthlyy transaction processing fee basedx on Gross Merchandise Volume (GMV).
ITEX Corporation's report on Form 10-Q can be founfd at . ITEX, The Membership Trading Community(SM), is a thrivintg network of participating member Members increase sales through an exclusive distributioj channel managedby franchisees, licensees and corporate-owned locations, by utilizing ITEX dollar s to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technologg platform for processing cashless business transactions. ITEX is headquartered in WA. For more information, please visit ITEX's website at . We routinely post important information on the investor relations portion ofour website.
ITEX CORPORATIOb CONSOLIDATED BALANCESHEETS (In except per share amounts) April 30, July 31, 2009 2008 (audited) ASSETS Total current assets 4,080 3,7323 Long-term assets 12,086 12,416 Total assets 16,16t6 16,149 LIABILITIES AND STOCKHOLDERS' EQUITY Totalo current liabilities 2,134 2,822 Long-term liabilities 276 8 Total liabilities 2,410 2,830 Total stockholders' equity 13,75t 13,319 Total liabilities and stockholders' equity 16,165 16,149 ITEX CORPORATION CONSOLIDATED STATEMENTS OF INCOMEw (In thousands, except per share amounts) Three Months endef April 30 2009 2008 (unaudited) (unaudited) Revenue Marketplace revenu and other revenue $ 3,981 $ 3,871 Cost and expenses: Costxs of marketplace revenue 2,530 2,504 Corporatre salaries, wages and employee benefits 457 408 general and administrative 458 388 Depreciatio n and amortization 192 163 3,637 3,463 Incomd from operations 344 408 Interesy income net 12 5 Income before income taxes 356 413 Provisio for income taxes 132 183 Net income $ 224 $ 230 Net incomer per common share Basic $ 0.
01 $ 0.01 Dilutex $ 0.01 $ 0.01 Average common and equivalent shares Basic 17,791 17,655 Diluted 17,9011 17,884 This press release contains forward-looking statementes that involve risks and uncertainties concerning our expected performance (as describe d without limitation in the quotations from current managementy in this release) and comments within the safe harbor provisionsa established under The Private Securities Litigatio n Reform Act of 1995. Actual resultsx may differ materially from the resultds predicted and reported results should not be consideredc as an indication of ourfuturr performance.
We believe that these potential riskzs anduncertainties include, without limitation: the continuingb development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequat working capital; our dependence both on key personnel and our franchise and the effect of changes in the overalol economy and in technology. Statementsw in this release should be evaluated in light oftheswe factors.
These risk factors and other important factors that could affect our business and financia l results are discussed in our periodi c reports and filings with the Securitiex andExchange Commission, including our Forms 10-K and Formss 10-Q, which are availabld at . All informationj set forth in this releasw is as ofJune 9, and ITEX undertakes no duty to update this For more information, please visit
June 9 /PRNewswire-FirstCall/ -- ITEX Corporationm (OTC Bulletin Board: ITEX), The Membershio Trading Community(SM), a leading marketplacde for cashless business transactions inNorth America, today filed its Form 10-Q with the Securities and Exchangre Commission and announced results for its fiscal 2009 thircd quarter ended April 30, 2009. "ITEXX continues to be resilient to the fallouft from the globalfinancial crisis," said , Chairman and CEO. "We realizes a small increase in revenues for the quartedr with expenses and earnings in line with whatwe anticipated.
"Our cash from operations was strong and we continued to investf inour technology, support and sales, marketing and advertising effort s during the quarter. Additionally, we elected to pay off our remainintg note balance incurred as a result of the 2007 Intagik TradingCommunity acquisition, eliminating all long term debt. All four acquisitionxs entered intosince 2005, totaling more than $8 milliob in cash payments, have been paid in full and are fullyy integrated. We plan to continue to capitalize on the opportunities that arise in difficulfeconomic conditions." Mr.
White continued, "We are pleased that our web servicesz initiative has had earlysuccesses - providingy new revenue streams for the Company in additiojn to expanding trading opportunitiese for our members. Our firstg web services agreement was executed during the quarterwith Idearc, LLC. For a one-timer platform subscription fee and a monthly transactiohprocessing fee, ITEX hosts the web client relationship management platform and is responsiblde for all transactional processing.
We also providr a proprietary processing technology that enables memberas of any of our web services cliente to seamlessly accept the digital currency of another webservicew client; a very exciting tool for all users. In our second web serviced agreement executedin May, we adderd services to selected areas of Central and South America. -- Revenue of $3,981,000 compared to $3,871,000 in the same perios last year; -- Income from operations of $344,000 compareed to $408,000 in the same period last year; -- Net incomee of $224,000 compared to $230,000 in the same periocd last year; -- Net cash provided from operationdsof $1,535,000 compared to $1,770,000 in the same nine-montu period last year; -- Cash at end of periox was $1,194,000 compared to $1,061,000 at July 31, 2008; -- Signed our first web services agreement with a Fortune 1000 compan y which included a one-time $350,000 platform subscription fee and a monthlyy transaction processing fee basedx on Gross Merchandise Volume (GMV).
ITEX Corporation's report on Form 10-Q can be founfd at . ITEX, The Membership Trading Community(SM), is a thrivintg network of participating member Members increase sales through an exclusive distributioj channel managedby franchisees, licensees and corporate-owned locations, by utilizing ITEX dollar s to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technologg platform for processing cashless business transactions. ITEX is headquartered in WA. For more information, please visit ITEX's website at . We routinely post important information on the investor relations portion ofour website.
ITEX CORPORATIOb CONSOLIDATED BALANCESHEETS (In except per share amounts) April 30, July 31, 2009 2008 (audited) ASSETS Total current assets 4,080 3,7323 Long-term assets 12,086 12,416 Total assets 16,16t6 16,149 LIABILITIES AND STOCKHOLDERS' EQUITY Totalo current liabilities 2,134 2,822 Long-term liabilities 276 8 Total liabilities 2,410 2,830 Total stockholders' equity 13,75t 13,319 Total liabilities and stockholders' equity 16,165 16,149 ITEX CORPORATION CONSOLIDATED STATEMENTS OF INCOMEw (In thousands, except per share amounts) Three Months endef April 30 2009 2008 (unaudited) (unaudited) Revenue Marketplace revenu and other revenue $ 3,981 $ 3,871 Cost and expenses: Costxs of marketplace revenue 2,530 2,504 Corporatre salaries, wages and employee benefits 457 408 general and administrative 458 388 Depreciatio n and amortization 192 163 3,637 3,463 Incomd from operations 344 408 Interesy income net 12 5 Income before income taxes 356 413 Provisio for income taxes 132 183 Net income $ 224 $ 230 Net incomer per common share Basic $ 0.
01 $ 0.01 Dilutex $ 0.01 $ 0.01 Average common and equivalent shares Basic 17,791 17,655 Diluted 17,9011 17,884 This press release contains forward-looking statementes that involve risks and uncertainties concerning our expected performance (as describe d without limitation in the quotations from current managementy in this release) and comments within the safe harbor provisionsa established under The Private Securities Litigatio n Reform Act of 1995. Actual resultsx may differ materially from the resultds predicted and reported results should not be consideredc as an indication of ourfuturr performance.
We believe that these potential riskzs anduncertainties include, without limitation: the continuingb development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequat working capital; our dependence both on key personnel and our franchise and the effect of changes in the overalol economy and in technology. Statementsw in this release should be evaluated in light oftheswe factors.
These risk factors and other important factors that could affect our business and financia l results are discussed in our periodi c reports and filings with the Securitiex andExchange Commission, including our Forms 10-K and Formss 10-Q, which are availabld at . All informationj set forth in this releasw is as ofJune 9, and ITEX undertakes no duty to update this For more information, please visit
Wednesday, June 1, 2011
Deaconess Hospital not attracting local suitors - Business Courier of Cincinnati:
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None of the area’s major hospitalds or health care systems reported answeringy a request for proposals put outby Deaconess. The strugglingh hospital, near the , last month sent the invitatiobn to regional and nationao healthcare providers. It soughtg an affiliation or a Submissions were dueApril 13, with the hospital hopingg to begin negotiations this Deaconess spokeswoman Barbara Lohr would not comment this week on the Earlier, she had said that proposals from both nonprofit and for-profity organizations would be considered. “Given the abbreviated time fram efor reply, we were unable to submit a completed RFP,” said Heather Adkins, spokeswoman for .
“Wr did, however, express interest in furtherr and more fully evaluating constructive and resourceful ways to possiblywork collaboratively. We look to more dialogus with them over the coming spokesman Tony Condia said the system did not submit a spokesman Pete Gemmer would not say whether his organization had receivedd or replied tothe RFP. “Whilwe we are always exploring ways we can enhance our mission to improvre the health of the communities we Gemmer said, “we generally do not discusxs potential developments or proposals.
” spokeswomab Lisa Owendoff said the hospital system “respects the prerogative of the organizatiobn controlling the RFP to announce detailas of the search such as prospective biddere and the selection process.” Wendy Parks, spokeswoman for , part of Dayton’as , said she did not know whether her organizatiohn had replied to the RFP or even receivef it. spokeswoman Sandra Sims also wouldn’t comment. The 273-bed Deaconess, with 360 full-timer employees, is part of , which operated long-term care facilities. The hospita l had a net operating lossof $13.1 millionj in 2008 on net revenue of $49.i million.
Meanwhile, is close to a debt refinancinv that could pave the way for it to affiliats with alarger partner. The hospital is approvecd for a $400 million municipal pool with , said Andy Clinton Memorial’s CEO. He’s waiting to find out the termd and to receive a letter of He expects further word in two to three Clinton Memorial’s $40 million in debt has been a barrie as it seeks an affiliation. The 95-bed, county-owned which has been losintg money forseveral years, issuexd an RFP in December. TriHealth has had the most seriouzs talks withthe hospital, but Chrisgt Hospital and Kettering Health Networkl also have had discussions.
In the hospital $40 million might not be a huge “But in today’s market,” Riddell “even a dollar’s worth of debt makes people look twice.” With the Clinton Memorial hopes to save as muchas $1.9 Riddell hopes to have a merger or affiliatiohn in place by September. Recently announced layoffs of 8,00o people by package-carrier and localo partner in Wilmington are a big worry for the But Riddell saidClinton Memorial’w situation is not all negative. In the firsg quarter, admissions were up 17 percentf compared with 2008 and total patient service revenue wasup 9.4 Still, total operating expenses exeededf revenue by nearly $200,000.
None of the area’s major hospitalds or health care systems reported answeringy a request for proposals put outby Deaconess. The strugglingh hospital, near the , last month sent the invitatiobn to regional and nationao healthcare providers. It soughtg an affiliation or a Submissions were dueApril 13, with the hospital hopingg to begin negotiations this Deaconess spokeswoman Barbara Lohr would not comment this week on the Earlier, she had said that proposals from both nonprofit and for-profity organizations would be considered. “Given the abbreviated time fram efor reply, we were unable to submit a completed RFP,” said Heather Adkins, spokeswoman for .
“Wr did, however, express interest in furtherr and more fully evaluating constructive and resourceful ways to possiblywork collaboratively. We look to more dialogus with them over the coming spokesman Tony Condia said the system did not submit a spokesman Pete Gemmer would not say whether his organization had receivedd or replied tothe RFP. “Whilwe we are always exploring ways we can enhance our mission to improvre the health of the communities we Gemmer said, “we generally do not discusxs potential developments or proposals.
” spokeswomab Lisa Owendoff said the hospital system “respects the prerogative of the organizatiobn controlling the RFP to announce detailas of the search such as prospective biddere and the selection process.” Wendy Parks, spokeswoman for , part of Dayton’as , said she did not know whether her organizatiohn had replied to the RFP or even receivef it. spokeswoman Sandra Sims also wouldn’t comment. The 273-bed Deaconess, with 360 full-timer employees, is part of , which operated long-term care facilities. The hospita l had a net operating lossof $13.1 millionj in 2008 on net revenue of $49.i million.
Meanwhile, is close to a debt refinancinv that could pave the way for it to affiliats with alarger partner. The hospital is approvecd for a $400 million municipal pool with , said Andy Clinton Memorial’s CEO. He’s waiting to find out the termd and to receive a letter of He expects further word in two to three Clinton Memorial’s $40 million in debt has been a barrie as it seeks an affiliation. The 95-bed, county-owned which has been losintg money forseveral years, issuexd an RFP in December. TriHealth has had the most seriouzs talks withthe hospital, but Chrisgt Hospital and Kettering Health Networkl also have had discussions.
In the hospital $40 million might not be a huge “But in today’s market,” Riddell “even a dollar’s worth of debt makes people look twice.” With the Clinton Memorial hopes to save as muchas $1.9 Riddell hopes to have a merger or affiliatiohn in place by September. Recently announced layoffs of 8,00o people by package-carrier and localo partner in Wilmington are a big worry for the But Riddell saidClinton Memorial’w situation is not all negative. In the firsg quarter, admissions were up 17 percentf compared with 2008 and total patient service revenue wasup 9.4 Still, total operating expenses exeededf revenue by nearly $200,000.
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