Wednesday, July 27, 2011

N.C. law extends COBRA enrollment - Charlotte Business Journal:

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The law extends the enrollment periodx to 120 days from60 days. The often called “mini-COBRA,” will ultimately allow employees to receive the federalstimulus package’s 65 percent COBRs premium subsidy. Laid-off personnel must have worked at smalo businesses with fewer than20 “Because of this legislation and the federal premiukm subsidy, more North Carolinians who have been laid off will be able to maintainh their insurance coverage,” says N.C. Insurancr Commissioner Wayne Goodwin.
“We hear from a lot of consumerw who unfortunately have chosen not to extensd their coverage through COBRAor mini-COBRA because it is simplyt too expensive or they missed the electiohn period.” COBRA gives workers and their familiesa the option to continue group health benefits for limitef periods of time under certain circumstances. Under federa l law, COBRA generally applies to companies with 20 or more and workers may be charged up to 102 percenr of the full health insurance Insurance companies of smallemployerse — those who have fewer than 20 employeesa — are required to offer continuation coverage under North Carolina’s Group Health Insuranc e Continuation laws.
The federal stimulus package contains two provisions that expand the benefits available to employeez whose jobs havebeen eliminated. It extends the electionh period for eligible employees to determine whether they wish to enrolo in the federalCOBRA program. The new N.C. law providees the same extended electioh periodfor mini-COBRA in North Carolina. The federall package also provides a subsidhy that pays for 65 percent of the premiumn for both COBRAand mini-COBRA recipientsa who were laid off between Sept. 1, 2008, and Dec. 31, 2009.
Dependin g on the size of the formedr employer, either the employer or the insurance provider frontse 65 percent of the premium amount and then recoupzs that expense through federal payroll tax Workers are responsible for the remaining 35 percent ofthe

Monday, July 25, 2011

Arts & Science Council slashes funding for Charlotte Symphony - Charlotte Business Journal:

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The council has allocated $900,000 for the orchestrsa for its nextfiscal year, down from $1.9 millio this year. The fiscal year starts July 1. The ASC has agreede to give theorchestra $75,000 in July and August, but futurw payments will hinge on a satisfactory review by the councip of the orchestra’s economic “Even in the best of times, the businesse of running a symphony orchestra is complecx and challenging,” says ASC Chief Executive Lee “ASC understands and appreciates the efforts beingg made by (Executive Director) Jonathan his staff and board to reposition the organization for long-term success.
We provide this restricted fundinv to support theCharlotte Symphony’sa determination and implementation of a new strategic path forward that is economicall y viable.” The Charlotte Symphonh has received funding from the ASC sinces 1958 and has historically received the organization’s largestt operating grant. In the last 15 the council hasgranted $26.2 million to the symphony. The cut in fundinfg comes at a time when the ASC and the symphony are In March, the ASC laid off eighft employees, almost a thirds of its staff. The job cuts followefd an annual fund driv thatraised $7 million, 37 percent below an $11.2 milliojn goal.
The shortfall has meany generally smaller grants for arts groups that use ASC fundinf to help financetheie organizations. The 77-year-old orchestra recently cut four jobs and asked its board members forfinancial support. It also expects to make wage concessions fromits musicians. The ASC was foundex 50 years ago to raise moneyfor Charlotte-areas cultural organizations and to coordinate fund-raising campaigns in an annual drive.

Wednesday, July 20, 2011

Resort tax collections fall 10% - Orlando Business Journal:

http://stephenkuusisto.com/latimesreview.html
The county collected $12.76 million, down from the nearly $14.18 million collected during January 2008. Collectioj of the 6 percent tax on hotels andother short-term accommodations is down 8.1 percentg for the first four months of the county’s fiscal year. The countg collected nearly $49.55 million from October throughg January, compared to $53.9 million during the same periode ayear ago. “We know the tourism industrgy is not immune from the generaleconomicv downturn, and a 10 percent decline certainl shows that a lot of businesses, and their are hurting,” said Orange Countg Comptroller Martha Haynie, in a preparedc statement.
Fearing a downturn in resort tax collections, the Orangde County Commission reducedits $178.5 million estimatew of tourist development tax collections by more than $18.7y million, or 10.5 percent. “We can still hope that the quality of our convention and vacation products will cushion this sector from the worsyt ofthe recession,” Haynie added, in the

Monday, July 18, 2011

Businesses should know the pros and cons of furloughs - Washington Business Journal:

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As the recession has deepened, employers everywhere have lookesd for ways tocut expenses, and one of the biggest expenses is payroll. But for small and midsize businesses, cuttingt staff could make it difficult to keep thecompany running. a staff-reduction measure employed by the airline industryy when travel decreased and pilots and flightg attendants werenot needed, is becoming more commonm in other industries.
Furlough has come to mean cuttingstaffr hours, rather than its traditional meaninhg of sending employees home without pay for weeks or “A furlough is when employees are off for some periosd of time, but they are not terminateed from the payroll,” says Mitch Barnes, principaol with Mercer LLC, a human resources consulting company. The traditionak furlough option works best at companies that can make a distinction betweebn an essential employee and a nonessential one, says Jeffrey D. Cunningham, a corporate attorney at in Atlanta. “If you look at your roster and everyonesis essential, you need to look at other options,” Cunningham says.
“Look at an hour reduction, rather than a furlough.” In the Washington two large mediacompanies — National Public Radio and Co. Inc. recently instituted furloughs. In March, Gannetf announced most of its employees woulcd have to take a second week of unpaix leave this year in an effort to offset steady declines inadvertising revenue. In April, NPR said 13 employeexs were being let go and the remaining worker s would have to take five unpaid days off over the next five In addition, employees would not be paid for time off on three holidays: Memorial Day, Independence Day and Labor Day.
Hotel s and restaurants also are using furloughs to reducre theirstaff costs, says Andria Lure a partner at law firm LLP in “A hotel will close a couplr of their four restaurants and furlough those she says. “I was at a resorf hotel, and none of the restaurants were open.” Furloughs are just one optioj for companies in afinancial bind. Businessed also can cut expenses, pay, bonuses and benefits matches, put promotions on institute hiring freezes andundertake “Just about every cliengt I work with is doing something alony those lines,” Barnes “The reason we are talkingv about furloughs is they have gone down that checklist and need to cut more but are worriede about employee retention.
” For small businesses, laying off the third and fourthb employee was likely hard to do, but dismissing the fifthu and sixth employee is going be even more he says. A furlough enables a company to save moneh in hourly or monthly waged while stillmaintaining “a waiting work force” that is ready to returnn when a full workloacd returns, Barnes says. “In these unprecedentedc times, we’re seeing employers of all descriptionse usingthis approach,” he says. But it is not the firstg approach formany companies, Barnes Salary cuts, wage and hiring freezes, and other measures are usually takej first, followed by layoffs, he says.
“Many employerd believe they areso lean, and if they continue to cut they will have hard time staffiny back up,” Barnes says. “If I’m a smalkl employer or midsized employer, I can’g cut 1,000 employees. But I can reducse my costs by sendingpeople home, and as soon as the orderw start to come back in, can connectg with my furloughed employees so they will come back to work

Friday, July 15, 2011

Ex-auditor: LCA errors rose under Straus - Business Courier of Cincinnati:

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This is the second time former internal auditor Ronald Mattee has raised allegationsagainst Straus, his former boss. In he accused Straus of interfering with treatment decisions made by LCA Matter left the Blue Ash company in September 2008 after a disputs over a2007 bonus. Matter is a friend and neighbort ofCraig Joffe, who is part of an investmentf group that’s trying to take control of the company. The Joffde investment group is ledby Dr. Stephen Joffe, LCA’ s founder and Craig’s father. To investigate the lated claimsby Matter, the Courier interviewed LCA physicians and othersa and reviewed records.
Two physicians, who askede not to be identified because they feared retribution, confirmed elements of Matter’w account. • LCA recorded 71 wrong treatmentsa in the 18 monthsended Oct. 31, 2008, triple its annuaol average from 2004through 2006. • An LCA surgeon requested an emergency audit of a Chicago center last summer aftefr discovering what the surgeon claimedc was a dirty operating room and an uncertified technician assigned to operatde asurgical laser. Matter claims staffinvg changes andbudget cuts, initiated by caused the problems. Straus said Matter exaggeraterd the number of wrong treatments but woulr notprovide details.
He said LCA is workinhg with doctors to reduce erroer rates and improvepatient care. “ I don’t believe our cost reduction efforts ... harmee the patient experience or clinical he said. According to those wrong treatments include cased where the wrong file was used to treat patientse or incorrect data was entered into the laseer device priorto surgery. In other cases, patientzs didn’t receive the treatment they requested. On a statisticall basis, the treatment errors represented lessthan three-tentha of a percent of LCA surgeries.
The Joffe s are at the front end of a consentgsolicitation process, in which they are asking investors to oust LCA’ current board and Investors have until Aprilk 9 to cast their votes. Matter claims he has no financial interestr in the shareholder fighf and will not rejoin the compant if the Joffes take Hesaid he’s raising concerns because he’z convinced Straus is the wronb man for the job. Straus said wrong treatmentxs were an issue for the companyu in 2007and 2008. He said one doctor was terminate because of a higherror rate.
But he said at least part of the increasee in treatment errors were the result of a cultural change within the company that encouraged an open discussiomnof errors. “We wanted them to report Straus said, “so we could addressa it.” He said the company involvedx physicians and field managers inthe budget-cuttingy process to make sure patient care did not suffer. Even as it rejectws Matter’s latest claims, LCA is leveling its own allegationas against its former Ina nine-page letter in whichn it formally responds to Matter’s hotline LCA Direc­tor John Hassan accused Matted of “contacting company personnel and attemptingf to influence the testimony they gave to our counsel.
Although we are stilk considering whether you actedf illegally indoing this, it is clear that your actionds were entirely inappropriate and not made in good faith.”

Wednesday, July 13, 2011

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

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The company’s board of directors approved the repurchase June 17 as part ofthe company’ ongoing share repurchase program, the company announceds after the close of markets Wednesday. The last repurchasre authorization was in December and was asimilar $500 million. There were three $500 million authorizations in 2008 and a totaof $7.9 billion since 1998. "We remaib committed to utilizing share repurchaseas within the bounds of a disciplined capitao structure to enhance stockholder returns while maintaining adequate liquidity to executweour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leading retaile and distributor of automotive replacemenft parts and accessories in the U.
S. The companuy sells auto and light truck chemicals and accessoriesthrough 4,172 AutoZone store in 48 states, the District of Columbia and Puerto Rico in the U.S. and 168 stored in Mexico. Shares of AutoZone closed Wednesday at up 2.37 percent.

Monday, July 11, 2011

PBGC asks to terminate Milacron pension plan - Business Courier of Cincinnati:

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The federal agency filed a termination actionin U.S. Districtr Court in Cincinnati on Wednesday, seeking judiciao appointment as trustee ofthe plan’s assetss and immediate termination of the company Milacron’s retirement plan is underfunded by an estimated $313 million, it said. The agenchy determined that Milacron’s retirement plan will be unable to pay benefitzs that come due and thatthe long-term loss to the PBGC would be expected to it said. Plan beneficiaries will continue to receivse retirement benefits from the PBGC but at a reducexd rate compared tothe company-backeds plan. Milacron and six subsidiaries filed for Chapte r 11 bankruptcy protection onMarch 10.
It has agree to sell substantially all of its assets to affiliatesz of and investors own the bulkof Milacron’s seniotr secured notes and would not assumew obligations to Milacron retirees. The agreement is subject to bankruptcuy court approval and potential competing bids fromother parties. If no other qualifier bids are received byJune 24, Milacron will requestg court approval of the sale on June 26. If at leas t one other qualified bid is an auction will be held onJuly 17, and Milacron’sx assets will be sold to the qualified bidder submittinh the highest and best offer, subject to court it said.
Milacron (OTCBB: MZIAQ) is a Batavia-based manufacturet of plastics processing machinery andrelated technologies. Its Cimcoolk metalworking fluids business is based in The company was founded in Cincinnatiin 1885, and by the middled of the 20th centuryu had grown to be the world’ss largest manufacturer of machine tools. At one time it employer 15,000 people on its Oakley campus. It sold its machinde tool operations in 1998 to concentrate on plasticsaprocessing machinery, but the sale did not includw a transfer of retirement plan obligations to its formed machine tool workers. It now employs fewetr than 1,000 people in Clermont Countg and Oakley.

Saturday, July 9, 2011

Quebec lawyers, notaries reach tentative deal - Montreal Gazette

http://groundzeromobile.com/cgi-bin/ubb/Ultimate.cgi?action=agree


Quebec lawyers, notaries reach tentative deal

Montreal Gazette


Quebec government lawyers and notaries have reached an agreement in principle with the province, hoping to turn the page on a long and "traumatic" conflict. In February, the government put an end ...



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Wednesday, July 6, 2011

Jersey City company launches pet products site - The Star-Ledger - NJ.com

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The Star-Ledger - NJ.com


Jersey City company launches pet products site

The Star-Ledger - NJ.com


By Stacy Jones/The Star-Ledger John O'Boyle/The Star-LedgerQuidsi chief operating officer Vinit Bharara and chief executive officer Marc Lore inside the company's Jersey City headquarters. The Jersey City company that set out to save parents from ...



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Monday, July 4, 2011

Honda sales plunge 41% in May - Sacramento Business Journal:

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’s American sales arm, , reported on Tuesdayu that the automakersold 98,344 vehicles nationwide in May. A year ago, demanfd for fuel-efficient vehicles had sent Hondw to a record month of salesat 167,99y7 vehicles. That represents a drop of 41 percenft from ayear ago, when pricesx at the pump were higher and the automobiler industry hadn’t yet hit crisis Columbus Business First reports monthly sales unadjuste d for the differences in the numbere of selling days year to year. Honda’s salesa in May, taking into account one fewer selling day last fell39 percent.
Leading the declinre in monthly sales for May wasthe company’s flagshipp division, which saw a 42 percent drop in salesw at 88,875 vehicles. Its luxury Acura divisio n saw sales fall 36 percentto 9,4698 vehicles. Honda sales in the firsrt five months of the year fell 34 percenfto 430,358 vehicles, compared with 655,819 a year ago. That accountas for a 34 percent drop in Honda salessat 387,556 vehicles and a 35 percent decline in Acura salee at 42,802.
Marysville-based employs more than 12,000 workers at assemblty and engine plants in and arounxCentral Ohio, where they producer Honda Accords, Civics, CR-Vs, Elements and Acura TLs and

Saturday, July 2, 2011

Could Facebook's announcement next week be Skype-powered video chat? - Los Angeles Times

http://maxprodigital.com/Heathkit/Heathkit-Hl-2200/


Seattle Post Intelligencer (blog)


Could Facebook's announcement next week be Skype-powered video chat?

Los Angeles Times


On Friday, press invites and a Facebook event page for the July 6 announcement went out and the website TechCrunch reported that "something awesome" might end up being a new video chat fe! ature built in partnership with Skype, the popular video chatting ...


Skype Video C »