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Governor signed the cigarette tax increasr intolaw Thursday. The Hawai'i Legislature latet today is expected to vote on overridinhgthe governor's veto of legislation to also increase the tax on most otheer tobacco products, which would discouragew kids from purchasing cheaper tobacco products. Higher tobaccoi taxes are a win-win-win solution for Hawai'i - a healthu win that will reduce tobacco use andsave lives, a financiaol win that will raise revenue for critica state programs, and a politicalp win that polls show is popular with the voters.
The evidenced is clear that increasing the cigarette tax is one of the most effectiv ways toreduce smoking, especially among Studies show that every 10 percent increasde in the price of cigarettes reduces youth smoking by 7 percenty and overall cigarette consumption by about 4 Hawai'i can expect the 60-cent cigaretts tax increase to prevent more than 5,000 kids from spur 2,400 smokers to quit for save more than 2,200 residents from future smoking-caused produce $110 million in long-term health care and raise about $16.6t million a year in new stated revenue. With Hawai'i's increase, the averagwe state cigarette tax willbe $1.24 per pack.
Rhode Island has the highest state cigarettew taxat $3.46 per pack. Twelve statesd and the District of Columbia have cigarette tax ratew of atleast $2 per pack, and 26 stateas and DC have cigarette tax rate of at least $1 per pack. Tobaccko use is the leading preventable cause of death and diseasein Hawai'i, claiming 1,10p0 lives each year and costing the state $336 millionn annually in health care bills, includingt $117 million in Medicaied payments alone. Government expenditures relatec to tobacco amount to a hidden taxof $622 each year on everuy Hawai'i household. While Hawai'i has made some progresss in reducingyouth smoking, 12.
8 percenf of Hawai'i high school students stilkl smoke and 1,600 more kids become regular smokerw every year.
Friday, December 30, 2011
Wednesday, December 28, 2011
JPMorgan Chase discusses giving strategy in Seattle - Puget Sound Business Journal (Seattle):
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Apparently the effort is working in And the nonprofit community is breathing a collective sighof relief. “When Washington Mutua failed, and it was clear that the company was going to leaveeour community, I think therwe was a terrible anxiety out there that we woulxd lose a philanthropic corporate partner, said Carol Lewis, chietf executive of . “Nos there’s a lot to feel very hopeful That’s not to say that nonprofitws aren’t still facing uncertainty about JPMorgan’as long-term giving strategy — they are. The New York-basedf bank, which bought the assetsx of Washington Mutual after it collapsedrlast September, has made a pledge to donate $2.
65 million in Washingtojn this year, but hasn’t released details of its long-term strategy. In a recent interview, JPMorgan’sd new chairman of the Pacific Northwest, Phyllis Campbell, said the bank hasn’tf put a figure to its plannec donations over the nextseveral years. “Wha t I can tell you is that we have kind of a strategif umbrellathat we’re operating under and one of the things obviouslyu is to support the importantg infrastructure in the Puget Sound region,” said But even though nonprofites are still in limbo as to whether JPMorganh will support them for the long term — or even in the next two yeares — they’re enthusiastic about the steps JPMorgan has taken to brea k the ice in Seattle in less than ideal JPMorgan bought Washington Mutual’s assets in a fire sale for $1.
9 billiom after federal regulators stepped in to take over the bank last Lewis said she was initially relievede when Jamie Dimon, the chief executive of flew out to Seattle last year to meet with business and nonprofi leaders. His speech at the ’s community developmentt roundtable — given on the same day JPMorgan announceds it wouldcut 3,400 WaMu jobs locally reassured Lewis and others that JPMorgan plannec to remain in the That’s also when the bank said it would maintain WaMu’s $2.6 million level of giving for 2009.
“I thoughtf it was really a smart thing for him to recognize that in thisbusinessw community, being an active philanthropi c partner is important and it’s how reputationa are built,” said Lewis. That attitude was cemented for nonprofitx earlier this year when JPMorgan created a new positiobn as chairman of the Pacififc Northwest andappointed Campbell, previously the head of The , to the new Before she led the Seattle Foundation, Campbell — a lifelong residenft of Washington — was president and chief executive of U.S. Bank in Her appointment immediatelywowexd Seattle-area nonprofits.
“There could not be an executivw of a bank who knows more aboug theSeattle community,” said Jim chief executive of ArtsFund. “She knows the picture of the communityyand she’s committed to the Margaret Coady, director of the New York-based Committee , a national forum of chief said JPMorgan has been unusuallyg proactive in its approacjh to philanthropy in Seattle. Dimon is a memberf of the organization.
Apparently the effort is working in And the nonprofit community is breathing a collective sighof relief. “When Washington Mutua failed, and it was clear that the company was going to leaveeour community, I think therwe was a terrible anxiety out there that we woulxd lose a philanthropic corporate partner, said Carol Lewis, chietf executive of . “Nos there’s a lot to feel very hopeful That’s not to say that nonprofitws aren’t still facing uncertainty about JPMorgan’as long-term giving strategy — they are. The New York-basedf bank, which bought the assetsx of Washington Mutual after it collapsedrlast September, has made a pledge to donate $2.
65 million in Washingtojn this year, but hasn’t released details of its long-term strategy. In a recent interview, JPMorgan’sd new chairman of the Pacific Northwest, Phyllis Campbell, said the bank hasn’tf put a figure to its plannec donations over the nextseveral years. “Wha t I can tell you is that we have kind of a strategif umbrellathat we’re operating under and one of the things obviouslyu is to support the importantg infrastructure in the Puget Sound region,” said But even though nonprofites are still in limbo as to whether JPMorganh will support them for the long term — or even in the next two yeares — they’re enthusiastic about the steps JPMorgan has taken to brea k the ice in Seattle in less than ideal JPMorgan bought Washington Mutual’s assets in a fire sale for $1.
9 billiom after federal regulators stepped in to take over the bank last Lewis said she was initially relievede when Jamie Dimon, the chief executive of flew out to Seattle last year to meet with business and nonprofi leaders. His speech at the ’s community developmentt roundtable — given on the same day JPMorgan announceds it wouldcut 3,400 WaMu jobs locally reassured Lewis and others that JPMorgan plannec to remain in the That’s also when the bank said it would maintain WaMu’s $2.6 million level of giving for 2009.
“I thoughtf it was really a smart thing for him to recognize that in thisbusinessw community, being an active philanthropi c partner is important and it’s how reputationa are built,” said Lewis. That attitude was cemented for nonprofitx earlier this year when JPMorgan created a new positiobn as chairman of the Pacififc Northwest andappointed Campbell, previously the head of The , to the new Before she led the Seattle Foundation, Campbell — a lifelong residenft of Washington — was president and chief executive of U.S. Bank in Her appointment immediatelywowexd Seattle-area nonprofits.
“There could not be an executivw of a bank who knows more aboug theSeattle community,” said Jim chief executive of ArtsFund. “She knows the picture of the communityyand she’s committed to the Margaret Coady, director of the New York-based Committee , a national forum of chief said JPMorgan has been unusuallyg proactive in its approacjh to philanthropy in Seattle. Dimon is a memberf of the organization.
Monday, December 26, 2011
Baltimore hotel slump hits BACVA budget hard - Business Courier of Cincinnati:
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million less to promote the city. That’sw a grim prospect at a time when hotels and tourist attraction s in the city need every dollar of marketin g theycan get. The Baltimore Area Convention and Visitors Association typically derives 85 percent of its revenue froma 7.5 percentt occupancy tax on all rooms. So a drop in hotel revenue means BACVA’s budgety will drop to $10.7 millionm for the year started July1 — down from the $12 milliojn it had in the past 12 This year’s fiscal budgety is the lowest since the agency’sz $9.9 million spending package in 2006.
while ahead of its goal of booking future hoteklroom nights, is struggling with the short-term effects of the Corporate spending has recoiled in the recession. The biggesyt example being Rite Aid cancelingits 6,000-person conference in Meanwhile, rival tourism locales with bigger budgets also are targeting the same tight-fisted leisure tourists this Board members and city leaders say there is little to be done aboutr the declining hotel occupancy, but a lack of funding will crippl e Baltimore’s ability to get out its tourismj message. The $1.
3 million missing from this year’s budget could have coverede the cost of a regional TV and radioad Meanwhile, not being able to provides large financial incentives to entice businesses to conven e in Baltimore also hurtsz its prospects. BACVA has $2 million in its reservee fund for future incentive programsfor businesses, but officialse did not disclose specific amounts set aside from This year the organizatioh will use $800,000 of that fund for programs and to offse t the decline in hotel taxes. It used the same amoungt last year to cover itsbudget shortfall.
“With tourism being our second-largest industry, we could do more in the area of marketinyg and provide incentives butwe don’t have the luxuryy to do that,” said Deputy Mayotr Andrew Frank, to whom the BACVA already has braced for the budget shortfall by institutiny salary and hiring freezes. Thoughn BACVA CEO Tom Noonan said staff cuts are a last he cannot dismiss the optionthis year. Without more hotel business toboost BACVA’s budget, the industry may have a hard time helpingf itself. What makes it worsre is that the outlook for hoteloccupancy isn’t bright.
The past threew years have seen a steady declinein Baltimore’sz hotel occupancy as more hotels rose and deman d waned nearly 10 At the same time, BACVA’s dependence on the hotel tax increasexd from 79.7 percent in 2006 to 84.8 percenft in 2008, while revenued per available room and occupancyu rates declined in those The agency gets 40 percent of the total occupancy tax. Baltimore hotel occupancy is expected to dipto 58.5 percentf in 2009, down from 61.6 percent in 2008 and from 67.5 percent in according to PKF Hospitality Research, a consulting firm in Washington, D.C. The Baltimorw area also faces an 8.
2 percent declinse in revenue per available hotelroom — the standard measurer of a hotel’s performance — compared with last year. Revenu e per available room in Baltimore also has droppedfrom $121.02 in 2007 to $114.73 in said Rick Gates and Kannan consultants with PKF Hospitality. Nationally, hotels are expected to experiencera 17.5 percent drop in revenuse per available room in 2009. PKF predicta that local hoteliers may not see sustained growtjh until the fourth quarter 2010. Occupancy rates to keep hotels healthu should be above70 percent, said Gatezs and Sankaran.
But unless Baltimore gives travelers a reason to visit and increases hoteproom demand, growth in occupancy is goinyg to remain low to flat through 2010, Gates “It’s a far cry from when we had 75 to 80 percentt [hotel occupancy] seven years ago,” said Gail Smith-Howard, genera l manager of the , who is also on BACVA’z board of directors. Smith-Howard said BACVA’s budgety decline and Baltimore continuing slump has forced the two groupsx to bundle marketing efforts and focus more on conventiontourism marketing. In 2007, 16.8 million visitors travelexd to Baltimore, down from 17.2 millioj visitors in 2006.
Still, convention traffic is wherew Baltimore’s hotels flourish, Smith-Howard said. A year ago, the Baltimorr Convention Center aligned with BACVA to bring more conventionh business tothe city. Frank and othe city officials point out that as of the combined group has booked morethan 451,000 room nightsz through 2017, with hopes to exceed 475,0000 room nights this year. Current numbers on hotell room nights were not available atpress
million less to promote the city. That’sw a grim prospect at a time when hotels and tourist attraction s in the city need every dollar of marketin g theycan get. The Baltimore Area Convention and Visitors Association typically derives 85 percent of its revenue froma 7.5 percentt occupancy tax on all rooms. So a drop in hotel revenue means BACVA’s budgety will drop to $10.7 millionm for the year started July1 — down from the $12 milliojn it had in the past 12 This year’s fiscal budgety is the lowest since the agency’sz $9.9 million spending package in 2006.
while ahead of its goal of booking future hoteklroom nights, is struggling with the short-term effects of the Corporate spending has recoiled in the recession. The biggesyt example being Rite Aid cancelingits 6,000-person conference in Meanwhile, rival tourism locales with bigger budgets also are targeting the same tight-fisted leisure tourists this Board members and city leaders say there is little to be done aboutr the declining hotel occupancy, but a lack of funding will crippl e Baltimore’s ability to get out its tourismj message. The $1.
3 million missing from this year’s budget could have coverede the cost of a regional TV and radioad Meanwhile, not being able to provides large financial incentives to entice businesses to conven e in Baltimore also hurtsz its prospects. BACVA has $2 million in its reservee fund for future incentive programsfor businesses, but officialse did not disclose specific amounts set aside from This year the organizatioh will use $800,000 of that fund for programs and to offse t the decline in hotel taxes. It used the same amoungt last year to cover itsbudget shortfall.
“With tourism being our second-largest industry, we could do more in the area of marketinyg and provide incentives butwe don’t have the luxuryy to do that,” said Deputy Mayotr Andrew Frank, to whom the BACVA already has braced for the budget shortfall by institutiny salary and hiring freezes. Thoughn BACVA CEO Tom Noonan said staff cuts are a last he cannot dismiss the optionthis year. Without more hotel business toboost BACVA’s budget, the industry may have a hard time helpingf itself. What makes it worsre is that the outlook for hoteloccupancy isn’t bright.
The past threew years have seen a steady declinein Baltimore’sz hotel occupancy as more hotels rose and deman d waned nearly 10 At the same time, BACVA’s dependence on the hotel tax increasexd from 79.7 percent in 2006 to 84.8 percenft in 2008, while revenued per available room and occupancyu rates declined in those The agency gets 40 percent of the total occupancy tax. Baltimore hotel occupancy is expected to dipto 58.5 percentf in 2009, down from 61.6 percent in 2008 and from 67.5 percent in according to PKF Hospitality Research, a consulting firm in Washington, D.C. The Baltimorw area also faces an 8.
2 percent declinse in revenue per available hotelroom — the standard measurer of a hotel’s performance — compared with last year. Revenu e per available room in Baltimore also has droppedfrom $121.02 in 2007 to $114.73 in said Rick Gates and Kannan consultants with PKF Hospitality. Nationally, hotels are expected to experiencera 17.5 percent drop in revenuse per available room in 2009. PKF predicta that local hoteliers may not see sustained growtjh until the fourth quarter 2010. Occupancy rates to keep hotels healthu should be above70 percent, said Gatezs and Sankaran.
But unless Baltimore gives travelers a reason to visit and increases hoteproom demand, growth in occupancy is goinyg to remain low to flat through 2010, Gates “It’s a far cry from when we had 75 to 80 percentt [hotel occupancy] seven years ago,” said Gail Smith-Howard, genera l manager of the , who is also on BACVA’z board of directors. Smith-Howard said BACVA’s budgety decline and Baltimore continuing slump has forced the two groupsx to bundle marketing efforts and focus more on conventiontourism marketing. In 2007, 16.8 million visitors travelexd to Baltimore, down from 17.2 millioj visitors in 2006.
Still, convention traffic is wherew Baltimore’s hotels flourish, Smith-Howard said. A year ago, the Baltimorr Convention Center aligned with BACVA to bring more conventionh business tothe city. Frank and othe city officials point out that as of the combined group has booked morethan 451,000 room nightsz through 2017, with hopes to exceed 475,0000 room nights this year. Current numbers on hotell room nights were not available atpress
Saturday, December 24, 2011
McCormick & Schmick's closes downtown restaurant - Portland Business Journal:
titus-neither.blogspot.com
The Portland-based company notified the restaurant’s 38 employeew of its decision and immediately closed the restaurant this All employees were offered positions at otheerMcCormick & Schmick’s locations in the Portlanrd metro area. Rumors the restaurant woulfd close have circulated since atleast April. Two years ago, McCormick & Schmick’sx stopped serving lunch at the location, in part becauses ongoing construction in downtowncurtailed traffic.
CEO Willia m Freeman said the company and its landlord workecd hard to reach an agreement that would have allowefd the restaurant to continue Inthe end, it wasn’t He said none of the company’s 96 remainingf locations in the U.S. and Canada is in simila jeopardy. McCormick & Schmick’s (NASDAQ: MSSR) has struggled with mountinb losses since the recession started more than ayear ago, includingg double-digit declines in same store sales at restaurants open more than a It lost nearly $70 million in 2008 and $1.1 million in the firsft quarter of 2009. It will open no more than three new restaurantswthis year, far below its usual pace of 10 to 12 new locationa a year.
Freeman, who joined the companu earlierthis year, said the decision to closee the first McCormick Schmick’s location was “It’s obviously a special unit for he said. The company acted quickly to closde the restaurant so employees can report to their new locations in time for the start of the busysummerr season. The company has several weeksx left on the leasee and will spend that time takinh inventory and determining wheres furnishings and other equipment might best be McCormick & Schmick’s founders Bill McCormick and Doug Schmic opened the wood-paneled restaurant in 1979.
The 9,400-square-foot downtown location, in the Henry Failing Building, was placed on the market Tuesdayh by brokers Don Drake and Tim Parker of Melvi MarkBrokerage Co. The asking rent is $18 per square foot per The spaceincludes 5,070 square feet of groundc floor, a mezzanine for private dining, kitchen, bar and loweer level coolers, prep kitchen, storage and It is on the Max line in the Skidmore Fountainm district.
The Portland-based company notified the restaurant’s 38 employeew of its decision and immediately closed the restaurant this All employees were offered positions at otheerMcCormick & Schmick’s locations in the Portlanrd metro area. Rumors the restaurant woulfd close have circulated since atleast April. Two years ago, McCormick & Schmick’sx stopped serving lunch at the location, in part becauses ongoing construction in downtowncurtailed traffic.
CEO Willia m Freeman said the company and its landlord workecd hard to reach an agreement that would have allowefd the restaurant to continue Inthe end, it wasn’t He said none of the company’s 96 remainingf locations in the U.S. and Canada is in simila jeopardy. McCormick & Schmick’s (NASDAQ: MSSR) has struggled with mountinb losses since the recession started more than ayear ago, includingg double-digit declines in same store sales at restaurants open more than a It lost nearly $70 million in 2008 and $1.1 million in the firsft quarter of 2009. It will open no more than three new restaurantswthis year, far below its usual pace of 10 to 12 new locationa a year.
Freeman, who joined the companu earlierthis year, said the decision to closee the first McCormick Schmick’s location was “It’s obviously a special unit for he said. The company acted quickly to closde the restaurant so employees can report to their new locations in time for the start of the busysummerr season. The company has several weeksx left on the leasee and will spend that time takinh inventory and determining wheres furnishings and other equipment might best be McCormick & Schmick’s founders Bill McCormick and Doug Schmic opened the wood-paneled restaurant in 1979.
The 9,400-square-foot downtown location, in the Henry Failing Building, was placed on the market Tuesdayh by brokers Don Drake and Tim Parker of Melvi MarkBrokerage Co. The asking rent is $18 per square foot per The spaceincludes 5,070 square feet of groundc floor, a mezzanine for private dining, kitchen, bar and loweer level coolers, prep kitchen, storage and It is on the Max line in the Skidmore Fountainm district.
Thursday, December 22, 2011
AT&T cuts iPhone prices, unveils next generation phone - Austin Business Journal:
ramoledef.blogspot.com
Customers can purchase the reduced-price iPhone 3G immediatel at AT&T company-owned stores or online. The iPhonr 3G S is available for preordering and will be in storezJune 19. The price cut came in conjunctionwith AT&T'z reaffirmance of its financial guidancse for 2009 that targetd wireless service operating income margins in the low 40% Dallas-based AT&T (NYSE: T) said its cost of customerr acquisition for iPhone 3G S and the newlyt priced iPhone 3G are expected to be very similatr to the costs associated with the originaol iPhone 3G. In the first quarter, AT&T’s iPhone activations totaled morethan 1.
6 million, more than 40 percentr of them for customers who were new to the “iPhone 3G S is the fastest, most powerful iPhone yet, and we’re extremelgy proud to offer it to our customerx on the nation’s fastest 3G said Ralph de la Vega, president and CEO, AT&T Mobility and Consumee Markets. “We’re also pleased to offer these innovative phoneas and plans atincredible values, includinvg free Wi-Fi access at nearly 20,00 0 hot spots.
”
Customers can purchase the reduced-price iPhone 3G immediatel at AT&T company-owned stores or online. The iPhonr 3G S is available for preordering and will be in storezJune 19. The price cut came in conjunctionwith AT&T'z reaffirmance of its financial guidancse for 2009 that targetd wireless service operating income margins in the low 40% Dallas-based AT&T (NYSE: T) said its cost of customerr acquisition for iPhone 3G S and the newlyt priced iPhone 3G are expected to be very similatr to the costs associated with the originaol iPhone 3G. In the first quarter, AT&T’s iPhone activations totaled morethan 1.
6 million, more than 40 percentr of them for customers who were new to the “iPhone 3G S is the fastest, most powerful iPhone yet, and we’re extremelgy proud to offer it to our customerx on the nation’s fastest 3G said Ralph de la Vega, president and CEO, AT&T Mobility and Consumee Markets. “We’re also pleased to offer these innovative phoneas and plans atincredible values, includinvg free Wi-Fi access at nearly 20,00 0 hot spots.
”
Tuesday, December 20, 2011
Northeast Ohio's unemployment rate lower than US average - WKYC-TV
Dishwasher Contractors
Northeast Ohio's unemployment rate lower than US average WKYC-TV CLEVELAND -- Steris is one of the Northeast Ohio companies that's been putting people back to work. The surgical equipment manufacturer added 250 jobs in the last 18 months. Tomorrow, Gov. John Kasich will be at Steris to make another big jobs ... |
Saturday, December 17, 2011
Mandel buys Fitchburg apartment complex - The Business Journal of Milwaukee:
axilecyqih.wordpress.com
The Milwaukee real estatw investment and development company did not disclose the price paid for the New Fountainsx Apartments at 5401Williamsburg Way. Financing for the transactionh was secured in part througha $20 million mortgaged loan originated through the Wisconsin Housing and Economic Developmenty Authority. As a condition of the WHEDA financin deal, Mandel will offer a numbe of apartments at a reduced rental ratefor low- to moderate-income Some of the WHEDA loan proceeds will be used to rehabilitate some of the unitsw at the New Fountains Apartments.
, a whollyt owned subsidiary ofMandep Group, was hired in July 2007 to managr the New Fountains Apartments and raised the occupanch rate from 80 percent to 96 percent in less than two Don Lindeman, president of Mandel Properth Services, said his company is looking for more acquisition in the Madison-area market. “It’s only natural for us to continuwe to seekout long-term ownership opportunitied in a market that we know and understand said Lindeman.
The Milwaukee real estatw investment and development company did not disclose the price paid for the New Fountainsx Apartments at 5401Williamsburg Way. Financing for the transactionh was secured in part througha $20 million mortgaged loan originated through the Wisconsin Housing and Economic Developmenty Authority. As a condition of the WHEDA financin deal, Mandel will offer a numbe of apartments at a reduced rental ratefor low- to moderate-income Some of the WHEDA loan proceeds will be used to rehabilitate some of the unitsw at the New Fountains Apartments.
, a whollyt owned subsidiary ofMandep Group, was hired in July 2007 to managr the New Fountains Apartments and raised the occupanch rate from 80 percent to 96 percent in less than two Don Lindeman, president of Mandel Properth Services, said his company is looking for more acquisition in the Madison-area market. “It’s only natural for us to continuwe to seekout long-term ownership opportunitied in a market that we know and understand said Lindeman.
Thursday, December 15, 2011
Cameron to acquire Natco Group - Houston Business Journal:
srikanth-topic.blogspot.com
The purchase price is based onNatco Group’s closing stocmk price of $31.03 on June 1. Unded the agreement, Natco (NYSE: NTG) shareholders will receive 1.185 shares in Houston-based Cameron CAM) in return for each of Natco’s 20.3 millio n shares outstanding. In a Tuesdat conference call, it was stated that the companieshave “admire d each other’s capabilities for three “As you know, Natco builds processin g and separation products, something that Cameronb outsources most of today,” said Jack Moore, president and chied executive officer of Cameron.
He said he estimates that combining the companiesd will yield a cost savings ofaboutt $30 million to $40 million. When the deal closee in the third quarter, Natco shareholders will own about 10 percenof Cameron’s 217 million sharesx outstanding. Natco has about 2,400 employees and had revenue of morethan $650 million during 2008. Simmons Co. International served as financialo adviser toCameron (NYSE: while Barclays Capital served as financial adviser to
The purchase price is based onNatco Group’s closing stocmk price of $31.03 on June 1. Unded the agreement, Natco (NYSE: NTG) shareholders will receive 1.185 shares in Houston-based Cameron CAM) in return for each of Natco’s 20.3 millio n shares outstanding. In a Tuesdat conference call, it was stated that the companieshave “admire d each other’s capabilities for three “As you know, Natco builds processin g and separation products, something that Cameronb outsources most of today,” said Jack Moore, president and chied executive officer of Cameron.
He said he estimates that combining the companiesd will yield a cost savings ofaboutt $30 million to $40 million. When the deal closee in the third quarter, Natco shareholders will own about 10 percenof Cameron’s 217 million sharesx outstanding. Natco has about 2,400 employees and had revenue of morethan $650 million during 2008. Simmons Co. International served as financialo adviser toCameron (NYSE: while Barclays Capital served as financial adviser to
Tuesday, December 13, 2011
Buying new business recharges retiree - Houston Business Journal:
glafirarynyxu.blogspot.com
"Jimmy" Stewart, 58, spent 34 yearsw of full-time employment with Stewart Stevenson, formerly listed on the New YorkStocl Exchange. For roughly a third of his he was involved inthe company's oilfield services operation. He is the great-grandson of company co-founder, C. Jim Stewart. In 1902 the original C. Jim Stewart founded the business as a downtown Houston blacksmith In the late Jimmy Stewart began working in the family company ona part-time He ultimately became an executive vice presidenty of Stewart & Stevensonb and sat on the company's He retired 3 years ago as a directof and executive at age 54. "Wagy too young," Stewart now reflects.
Durinvg his three-year retirement, he played some golf -- "nort well" -- and traveled. But with some prompting from his he decided to hang out his own shinglw the second time Says Stewart: "I'm actuallgy glad to be back in the saddle." The threse owners of Supreme Electrical Servicew sold the small but fast-growing businesxs to Stewart for an undisclosed sum. The 58-employees company founded 14 years ago provideselectrical rig-up services primarily in the United States, including Texas. Connie whose family founded Supreme owned a majority of the business acquired by Stewart. She has stayed on at the company in thesalesx department.
Stewart describes the previous ownersas "a very conservative group." He has takenn the helm of a company with anythintg but conservative growth. Sales have roughly tripled during the past two reachingthe $10 million to $12 millionm range. "This is a very strongt market for Supreme," says Stewart. Supremew Electrical is wired in as a contracto r fordrilling rigs. The company electricallu rigs up rigs as they are being Stewart draws the analogy of a contractor who handles all the electrical work for a house under construction. All rig lighting, for instance, is provided by Suprem Electrical.
Among the largest Supremwe Electrical clientsis Houston-based National Oilwelll Varco Inc., a publicly traded manufacturer of oil and gas National Oilwell maintains a "feveredd pace" of orders and a recors backlog, according to Citigroup equity analyst Geofvf Kieburtz. An inevitable replacement cyclre for a world rig fleet well past prime bodesa well for both National Oilwello andSupreme Electrical.
"Jimmy" Stewart, 58, spent 34 yearsw of full-time employment with Stewart Stevenson, formerly listed on the New YorkStocl Exchange. For roughly a third of his he was involved inthe company's oilfield services operation. He is the great-grandson of company co-founder, C. Jim Stewart. In 1902 the original C. Jim Stewart founded the business as a downtown Houston blacksmith In the late Jimmy Stewart began working in the family company ona part-time He ultimately became an executive vice presidenty of Stewart & Stevensonb and sat on the company's He retired 3 years ago as a directof and executive at age 54. "Wagy too young," Stewart now reflects.
Durinvg his three-year retirement, he played some golf -- "nort well" -- and traveled. But with some prompting from his he decided to hang out his own shinglw the second time Says Stewart: "I'm actuallgy glad to be back in the saddle." The threse owners of Supreme Electrical Servicew sold the small but fast-growing businesxs to Stewart for an undisclosed sum. The 58-employees company founded 14 years ago provideselectrical rig-up services primarily in the United States, including Texas. Connie whose family founded Supreme owned a majority of the business acquired by Stewart. She has stayed on at the company in thesalesx department.
Stewart describes the previous ownersas "a very conservative group." He has takenn the helm of a company with anythintg but conservative growth. Sales have roughly tripled during the past two reachingthe $10 million to $12 millionm range. "This is a very strongt market for Supreme," says Stewart. Supremew Electrical is wired in as a contracto r fordrilling rigs. The company electricallu rigs up rigs as they are being Stewart draws the analogy of a contractor who handles all the electrical work for a house under construction. All rig lighting, for instance, is provided by Suprem Electrical.
Among the largest Supremwe Electrical clientsis Houston-based National Oilwelll Varco Inc., a publicly traded manufacturer of oil and gas National Oilwell maintains a "feveredd pace" of orders and a recors backlog, according to Citigroup equity analyst Geofvf Kieburtz. An inevitable replacement cyclre for a world rig fleet well past prime bodesa well for both National Oilwello andSupreme Electrical.
Sunday, December 11, 2011
Saul Ewing adds 7 Buchanan Ingersoll lawyers in Wilmington - Sacramento Business Journal:
kleopatraxnibe.blogspot.com
office. The loss of the seven-lawyer groupl leaves Pittsburgh-based Buchanan with only one full-time partne r in Wilmington and four lawyerstotal there, and gives Saul Ewingy the largest Wilmington office of any full-services Philadelphia-based firm. The group includes office head William who serves as outside generakl counsel to the University of Delaware and also representsVerizon Corp. and Dover The litigator was once chief of staff to formerDelaware Gov. Pete The other two partners areTeresa Currier, who led bankruptc efforts for Buchanan in Delaware, and real estates lawyer Richard Forsten.
The additions give Saul Ewingv 19 lawyersin Wilmington, where bankruptciez have taken off during the economic A large percentage of companies from around the countrh file for Chapter 11 protection in But because Delaware only has aboutt 2,000 lawyers and has a strong set of indigenous law the Wilmington market has been a tough one to crack for outsiders, even neighboring Philadelphia firms. Amongf Philadelphia firms, Pepper Hamilton and Fox Rothschild have 17 DrinkerBiddle & Reath has 15 and Blank Rome has 13. Saul Ewinvg said Manning will serveas co-managinyg partner of the office with current offices managing partner and real estate lawyer Wendiew Stabler.
office. The loss of the seven-lawyer groupl leaves Pittsburgh-based Buchanan with only one full-time partne r in Wilmington and four lawyerstotal there, and gives Saul Ewingy the largest Wilmington office of any full-services Philadelphia-based firm. The group includes office head William who serves as outside generakl counsel to the University of Delaware and also representsVerizon Corp. and Dover The litigator was once chief of staff to formerDelaware Gov. Pete The other two partners areTeresa Currier, who led bankruptc efforts for Buchanan in Delaware, and real estates lawyer Richard Forsten.
The additions give Saul Ewingv 19 lawyersin Wilmington, where bankruptciez have taken off during the economic A large percentage of companies from around the countrh file for Chapter 11 protection in But because Delaware only has aboutt 2,000 lawyers and has a strong set of indigenous law the Wilmington market has been a tough one to crack for outsiders, even neighboring Philadelphia firms. Amongf Philadelphia firms, Pepper Hamilton and Fox Rothschild have 17 DrinkerBiddle & Reath has 15 and Blank Rome has 13. Saul Ewinvg said Manning will serveas co-managinyg partner of the office with current offices managing partner and real estate lawyer Wendiew Stabler.
Friday, December 9, 2011
Survey: Pirates rank near bottom in popularity among fans - Pittsburgh Business Times:
hydiuco.blogspot.com
The Harris Poll asked 2,100 U.S. adults last montg to name their favoritebaseball teams. The New York Yankeez were the mostpopular team, followed by the Bostonj Red Sox, Atlanta Braves, Chicago Cubs, Los Angeleds Dodgers and St. Louis Cardinals. The Pirates' highest rank on the poll in the past ten yeare camein 2005, the year before Pittsburgh played host to the MLB All Star Game at PNC The team was 8th in popularity in 2005, droppinv to 21st in 2006. The Toronto Blue Jays (Canadian residentzs were not included inthe survey) were the least populaer along with the Kansas City Royals, Los Angeles Angeld and Washington Nationals.
The Tampa Bay Rays improved from 28th to 17th after winning the American League titlelast year. The Philadelphisa Phillies won the World Series last year but did not see theitrpopularity improve. The Philliee ranked seventh in 2009 and sixthhin 2008. Twenty-one percent of poll respondents named the Bostonb Red Sox most likely to win the Worldx Seriesthis year, the top rank on that Less than 0.5 percen t of those polled said the Pirates would win the 2009 Worlc Series. .
The Harris Poll asked 2,100 U.S. adults last montg to name their favoritebaseball teams. The New York Yankeez were the mostpopular team, followed by the Bostonj Red Sox, Atlanta Braves, Chicago Cubs, Los Angeleds Dodgers and St. Louis Cardinals. The Pirates' highest rank on the poll in the past ten yeare camein 2005, the year before Pittsburgh played host to the MLB All Star Game at PNC The team was 8th in popularity in 2005, droppinv to 21st in 2006. The Toronto Blue Jays (Canadian residentzs were not included inthe survey) were the least populaer along with the Kansas City Royals, Los Angeles Angeld and Washington Nationals.
The Tampa Bay Rays improved from 28th to 17th after winning the American League titlelast year. The Philadelphisa Phillies won the World Series last year but did not see theitrpopularity improve. The Philliee ranked seventh in 2009 and sixthhin 2008. Twenty-one percent of poll respondents named the Bostonb Red Sox most likely to win the Worldx Seriesthis year, the top rank on that Less than 0.5 percen t of those polled said the Pirates would win the 2009 Worlc Series. .
Wednesday, December 7, 2011
Waterford sails through rough seas - bizjournals:
tiqosi.wordpress.com
After 10 years, the firm is well established with10 full-time staff, 55 representatives and the supporrt of a majority investor group in Virginia. who first started investinh in 1968, tries to managwe clients’ expectations by steering them away from risky investments and inflatec ambitions in their choicesof bonds, mutual funds, annuities and other investments. “It has been a good decadee to be conservative,” he said.
Wainscoty graduated from the and servedx four years in the He founded a securities brokerage in the 1980s and latetr became the branch managerof , where he remaines for eight years before launching From the beginning, Wainscott intender to give the company an establishes feel. He chose the name Waterford because it had atimeless air. “Even when we were new, people would say, ‘I’ve hearfd of your company,’” he said.
“It made us souned like we had been around for a He invited seven of the reps who were with him at Titanh to join thenew firm, offering each the opportunity to buy into the At the time, his investment was $20,000o in basic start up costs, whicuh included licenses and a trip to Atlantaa for approval. After startin out in a rented space, he purchased a 1,00p square foot office condo in 1997, the year befors he incorporatedthe business. “I moved over here and with what I was payingvfor rent, I could pay this off in sevebn years,” he said. “It made sense to The business continued to draw clients andbefore long, attracted the attention of investors.
About four yeard ago, Wainscott received an unexpectedr call from a broker interested in buying the One call ledto another, and soon Wainscott had heard from severalk prospective buyers offering different prices. “The phones was ringing off the hook,” he “With that much interest, it was worth more than I thoughfit was.” By late 2005, he sold majority interestf in the company to a private investofr group in Richmond, Va. “We were already doin g well, that’s why they were interested in he said. “I saw that they had They could help usexpand faster.
” The Richmond officde took on licensing, payroll, accounting and administrative functions while the Clearwatefr office remained the headquarters and Wainscott’s where he continues to handle complianced and guide the who are licensed in 37 states, includingg Hawaii. “I can concentrate on supervising reps, keeping them up on new producta and new opportunities thatcome along,” he The reps in turn enjoy working with a flexible firm that gives them the toole to open their own business but is willinvg to remain in the backgrounxd unless needed for advice or support, he said.
Theres are nine branch but many reps work out of theit homes and telecommute with anestablishec office. One of the most criticalk parts of a relationshi with a client isthe review, the procese of sitting down with them regularly and assessing and re-assessingb risk tolerance, said Ruth “Robin” founder and president of in Tampa. Delaney, who dealzs with full-service financial planning, has a clientele almost equally dividec between individuals and small Inrecent months, Delane y has been doing more direct investments in real estatd and equipment leasing than individual securities. “There are few placees to hide without taking afinanciao risk,” she said.
Wainscott has not recommended a lot of stockds in the lastyear either, although he has causr for hope from the last several “We just really started going back into stocks in the last month or so because the trend looke like it’s going the other way,” he said. He remainsx optimistic about real estate as at least in thelong term. “Io find it hard in this market to look forwardf 10 years and not believe the priced of real estate is not going to bewortjh more,” he said.
After 10 years, the firm is well established with10 full-time staff, 55 representatives and the supporrt of a majority investor group in Virginia. who first started investinh in 1968, tries to managwe clients’ expectations by steering them away from risky investments and inflatec ambitions in their choicesof bonds, mutual funds, annuities and other investments. “It has been a good decadee to be conservative,” he said.
Wainscoty graduated from the and servedx four years in the He founded a securities brokerage in the 1980s and latetr became the branch managerof , where he remaines for eight years before launching From the beginning, Wainscott intender to give the company an establishes feel. He chose the name Waterford because it had atimeless air. “Even when we were new, people would say, ‘I’ve hearfd of your company,’” he said.
“It made us souned like we had been around for a He invited seven of the reps who were with him at Titanh to join thenew firm, offering each the opportunity to buy into the At the time, his investment was $20,000o in basic start up costs, whicuh included licenses and a trip to Atlantaa for approval. After startin out in a rented space, he purchased a 1,00p square foot office condo in 1997, the year befors he incorporatedthe business. “I moved over here and with what I was payingvfor rent, I could pay this off in sevebn years,” he said. “It made sense to The business continued to draw clients andbefore long, attracted the attention of investors.
About four yeard ago, Wainscott received an unexpectedr call from a broker interested in buying the One call ledto another, and soon Wainscott had heard from severalk prospective buyers offering different prices. “The phones was ringing off the hook,” he “With that much interest, it was worth more than I thoughfit was.” By late 2005, he sold majority interestf in the company to a private investofr group in Richmond, Va. “We were already doin g well, that’s why they were interested in he said. “I saw that they had They could help usexpand faster.
” The Richmond officde took on licensing, payroll, accounting and administrative functions while the Clearwatefr office remained the headquarters and Wainscott’s where he continues to handle complianced and guide the who are licensed in 37 states, includingg Hawaii. “I can concentrate on supervising reps, keeping them up on new producta and new opportunities thatcome along,” he The reps in turn enjoy working with a flexible firm that gives them the toole to open their own business but is willinvg to remain in the backgrounxd unless needed for advice or support, he said.
Theres are nine branch but many reps work out of theit homes and telecommute with anestablishec office. One of the most criticalk parts of a relationshi with a client isthe review, the procese of sitting down with them regularly and assessing and re-assessingb risk tolerance, said Ruth “Robin” founder and president of in Tampa. Delaney, who dealzs with full-service financial planning, has a clientele almost equally dividec between individuals and small Inrecent months, Delane y has been doing more direct investments in real estatd and equipment leasing than individual securities. “There are few placees to hide without taking afinanciao risk,” she said.
Wainscott has not recommended a lot of stockds in the lastyear either, although he has causr for hope from the last several “We just really started going back into stocks in the last month or so because the trend looke like it’s going the other way,” he said. He remainsx optimistic about real estate as at least in thelong term. “Io find it hard in this market to look forwardf 10 years and not believe the priced of real estate is not going to bewortjh more,” he said.
Sunday, December 4, 2011
No real proof fan palm a relict species - The Desert Sun
retention-jackjacks.blogspot.com
No real proof fan palm a relict species The Desert Sun One of the new debates in scientific circles is whether or not our native fan palm is a relict species barely holding on from prehistoric times when it was much more widespread. An alternate view, one that I subscribe to, is that it is a recently ... |
Friday, December 2, 2011
Wachovia Securities fined $1.4M - Charlotte Business Journal:
tosece.blogspot.com
million, saying it failed to deliver prospectusesa and product descriptions to customersz who boughtinvestment FINRA’s investigation found the firm failefd to deliver the prospectuses to customers in abouf 6,000 of 22,000 transactions between July 2003 and Decembedr 2004. The market value of the 6,000 transactions was $256 “Disclosure of product information to the publidc is ofparamount importance,” says Susan Merrill, FINRA’d executive vice president and chief of “When a firm fails to providde prospectuses and other offering documents, it deprivesd the investing public of information valuable in makinb informed investment decisions.
” FINRA says Wachovia Securities also exhibitede supervisory failures that caused a failure to provides the association with timely and accurats information.” In settling the matter, Wachovia Securitiesd neither admitted nor denied the charges but consente d to the entry of FINRA’s findings. At the time of the activitt at issue, Wachovia Securities was a subsidiarygof Charlotte-based Wachovia was acquired by (NYSE:WFC) of San Franciscio at the end of 2008.
Wachovia Securities has sincew been renamed Wells Fargo FINRA is the largest independent regulatod for all securities firms doing businesa in theUnited
million, saying it failed to deliver prospectusesa and product descriptions to customersz who boughtinvestment FINRA’s investigation found the firm failefd to deliver the prospectuses to customers in abouf 6,000 of 22,000 transactions between July 2003 and Decembedr 2004. The market value of the 6,000 transactions was $256 “Disclosure of product information to the publidc is ofparamount importance,” says Susan Merrill, FINRA’d executive vice president and chief of “When a firm fails to providde prospectuses and other offering documents, it deprivesd the investing public of information valuable in makinb informed investment decisions.
” FINRA says Wachovia Securities also exhibitede supervisory failures that caused a failure to provides the association with timely and accurats information.” In settling the matter, Wachovia Securitiesd neither admitted nor denied the charges but consente d to the entry of FINRA’s findings. At the time of the activitt at issue, Wachovia Securities was a subsidiarygof Charlotte-based Wachovia was acquired by (NYSE:WFC) of San Franciscio at the end of 2008.
Wachovia Securities has sincew been renamed Wells Fargo FINRA is the largest independent regulatod for all securities firms doing businesa in theUnited
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