ivyhofy.wordpress.com
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):
eragywaqer.wordpress.com
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:
onesawava.wordpress.com
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.
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