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The Senate Appropriations Revenue Committee, on Mondaty evening, voted 10-5 against the measure, with two membersa abstaining, according to the Lexingtojn Herald-Leader. The House had previously passed the The legislation would havepermitted video-lottery terminals at Kentucky hors tracks, including Turfway Park in Florence. "The limited gaming proposal was designed to help save a signaturwe industry inperil – an industry that means 100,000 jobs and $4 billioj in investment for our state," said Gov. Stevwe Beshear in a Monday eveningg statement. "It is unfortunate that everyy voice on this critically important issue was not heard and everhy votenot counted.
" At a Frankfor press conference, Turfway Park President Bob Elliston said Turfwa could close by 2010 if Ohio passes gaming legislation and Kentucky does not. Ohio Gov. Ted Stricklans recently reversed his stance against gamblingyat racetracks.
Monday, April 30, 2012
Sunday, April 29, 2012
St. Louis-area woman wins $5.8 million in 'Girls Gone Wild' case; DVD makers ... - Washington Post
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St. Louis-area woman wins $5.8 million in 'Girls Gone Wild' case; DVD makers ... Washington Post LOUIS â€" The company that makes “Girls Gone Wild†DVDs is seeking to overturn a verdict awarding nearly $6 million to a St. Louis-area woman who claims her bare breasts were recorded without permission. St. Louis Circuit Judge John Garvey last month ... |
Friday, April 27, 2012
Dayton employment to remain sluggish into third quarter - Dayton Business Journal:
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Tom Traynor, an economicxs professor at Wright State and authorf ofthe report, said unemployment increases will continue at theif accelerated pace into the third quarter of this year. The Dayton Metropolitan Statistical Area, which includes Greene, Miami and Preble counties, is projecte to lose 6,000 to 7,000 jobs in the thirdr quarter. That would drop employment to 373,900, down from 380,400 in the first quarter of the year, a 2 percent The hardest-hit area is one the Dayton area has longreliedr on, manufacturing. “Manufacturing employment will fall substantially,” Traynor said.
Forecast s from the report show employment in the sectoer fallingfrom 42,300 in the first quarteer of this year to 36,100 by the thirds quarter, a nearly 15 percen drop. Durable goods manufacturing will be hit in Traynor said. “People aren’t spending. They are waitinfg to buy a new car or thatnew appliance,” he Retail and service employment are also expected to Retail employment is expected to drop to 39,109 by the third quarter, down from 40,000o in the first quarter, a 2 percent Service employment, which includes financial service, business service, utilities and leisure service, is projected to decreas to 324,200 by the third quarter, down from 326,700 in the firsrt quarter, a nearly 1 percent “The next year to year and a half will be an unpleasanrt time for the region,” Traynor said.
Construction employmenty is expected to rise as a part ofseasonak employment, to 13,400 from 11,400 in the firsty quarter, but that is 1,000 jobs fewer than the same time periodr last year. One area of employmeny that isn’t expected to be hit hard is healthy care. In fact, Traynor said he expectz health care to add some jobs by thethirc quarter, going up to 56,500 from 56,300 in the firsy quarter. He said the rate of decline in gross domestic productgwill slow, but remain negative through the third quarter and mayb into the fourth quartere of this year.
Even when GDP does becomer positive again, it will take some time for employmenft to pick up because it is a lagging indicator ofeconomidc recovery. Traynor said there is a great deal of uncertaintyt still on the national as businesses try to determine the impacgt ofgovernment actions. Traynor said the problem of high unemployment is not goin awayanytime soon. “This is somethingv we’re going to be living with for quitsa while, well into next year,” he
Tom Traynor, an economicxs professor at Wright State and authorf ofthe report, said unemployment increases will continue at theif accelerated pace into the third quarter of this year. The Dayton Metropolitan Statistical Area, which includes Greene, Miami and Preble counties, is projecte to lose 6,000 to 7,000 jobs in the thirdr quarter. That would drop employment to 373,900, down from 380,400 in the first quarter of the year, a 2 percent The hardest-hit area is one the Dayton area has longreliedr on, manufacturing. “Manufacturing employment will fall substantially,” Traynor said.
Forecast s from the report show employment in the sectoer fallingfrom 42,300 in the first quarteer of this year to 36,100 by the thirds quarter, a nearly 15 percen drop. Durable goods manufacturing will be hit in Traynor said. “People aren’t spending. They are waitinfg to buy a new car or thatnew appliance,” he Retail and service employment are also expected to Retail employment is expected to drop to 39,109 by the third quarter, down from 40,000o in the first quarter, a 2 percent Service employment, which includes financial service, business service, utilities and leisure service, is projected to decreas to 324,200 by the third quarter, down from 326,700 in the firsrt quarter, a nearly 1 percent “The next year to year and a half will be an unpleasanrt time for the region,” Traynor said.
Construction employmenty is expected to rise as a part ofseasonak employment, to 13,400 from 11,400 in the firsty quarter, but that is 1,000 jobs fewer than the same time periodr last year. One area of employmeny that isn’t expected to be hit hard is healthy care. In fact, Traynor said he expectz health care to add some jobs by thethirc quarter, going up to 56,500 from 56,300 in the firsy quarter. He said the rate of decline in gross domestic productgwill slow, but remain negative through the third quarter and mayb into the fourth quartere of this year.
Even when GDP does becomer positive again, it will take some time for employmenft to pick up because it is a lagging indicator ofeconomidc recovery. Traynor said there is a great deal of uncertaintyt still on the national as businesses try to determine the impacgt ofgovernment actions. Traynor said the problem of high unemployment is not goin awayanytime soon. “This is somethingv we’re going to be living with for quitsa while, well into next year,” he
Wednesday, April 25, 2012
Syfy Adapting Stephen King's 'The Eyes of the Dragon;' 'The Adjustment Bureau ... - /FILM (blog)
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Dread Central | Syfy Adapting Stephen King's 'The Eyes of the Dragon;' 'The Adjustment Bureau ... /FILM (blog) There are more Stephen King film and TV adaptations than most people could count â€" only the most die-hard fan or serious film and TV trainspotter would be likely to remember them » |
Monday, April 23, 2012
Business groups slam proposed tax increases - Portland Business Journal:
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The said it opposes changes to the corporateeminimum tax, a new corporate income tax and a new personap income tax. The alliance consists of 30 businese groups that represent morethan 25,000 Oregon businessez and employ 500,000 residents. Raising the taxezs could cause the state tolose 6,00 0 jobs, according to state revenue office “These proposals ignore the starkl realities of our current recession,” the group said in a news release sent by J.L. Wilson, a lobbyist with Associateds Oregon Industries. “They are counterproductive measures that kill jobs and prolongyour recession.
” The corporate minimum tax and corporates income tax proposals would collectively harm companies with smalo profit margins as well as businesses looking to invest more in capital the group said. The alliance called on lawmakers to instead focudson private-sector job retention and “We believe strongly that increased taxess are detrimental to job growth,” Wilson said in the news “An increased tax burden will hurt the ability of our memberws to create desperately needed jobs. It is the wronb approach to balancethe state’s budget.
” Otherf groups signing the letter includw Associated Oregon Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregon Association of Realtors, the Oregon Automobild Dealers Association, the Oregon Bankersd Association, the Oregon Home Builders Association, the Oregonm Restaurant Association and the Oregon Trucking Oregon’s House and Senate members hope to adjourbn by July 1. Lawmakers must address a $4.
2 billion budge t shortfall before they adjourn or in a series of speciaol sessions throughout the rest ofthe
The said it opposes changes to the corporateeminimum tax, a new corporate income tax and a new personap income tax. The alliance consists of 30 businese groups that represent morethan 25,000 Oregon businessez and employ 500,000 residents. Raising the taxezs could cause the state tolose 6,00 0 jobs, according to state revenue office “These proposals ignore the starkl realities of our current recession,” the group said in a news release sent by J.L. Wilson, a lobbyist with Associateds Oregon Industries. “They are counterproductive measures that kill jobs and prolongyour recession.
” The corporate minimum tax and corporates income tax proposals would collectively harm companies with smalo profit margins as well as businesses looking to invest more in capital the group said. The alliance called on lawmakers to instead focudson private-sector job retention and “We believe strongly that increased taxess are detrimental to job growth,” Wilson said in the news “An increased tax burden will hurt the ability of our memberws to create desperately needed jobs. It is the wronb approach to balancethe state’s budget.
” Otherf groups signing the letter includw Associated Oregon Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregon Association of Realtors, the Oregon Automobild Dealers Association, the Oregon Bankersd Association, the Oregon Home Builders Association, the Oregonm Restaurant Association and the Oregon Trucking Oregon’s House and Senate members hope to adjourbn by July 1. Lawmakers must address a $4.
2 billion budge t shortfall before they adjourn or in a series of speciaol sessions throughout the rest ofthe
Saturday, April 21, 2012
PDL BioPharma's outside directors get $10K per month boost - San Francisco Business Times:
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The Redwood City-based biotech (NASDAQ: said the move was necessary giventhe board's "increasedx workload." The company is lookingb to sell its antibodty humanization royalty assets, distribute to stockholders a portion of the proceedx and spin off the company'a biotech-related assets into a separate publicly traded entit y funded with $375 million cash. PDL has been withoutt a permanent CEO since Mark McDade left at the end of last Interim CEO and former boardchairman L. Patrick Gage quit in May over a disagreement oncompany strategy, and his successor as Karen Dawes, resigned at the same time for persona reasons.
Since Gage's departure, PDL has been run by a three-member Officse of the Chair ofthe Board: Laurencd Korn, Joseph Klein III and Brad Goodwin. It wasn'y clear from a company filingv Thursday withthe U.S. Securities and Exchangr Commission if the trio is considered outside directors. The retainer is retroactive to May 29 and ends upon eithedr the spinoff ofthe company's biotechnology-relatedc assets, the payment date of a distributio n of royalty income or Dec. 31. It is for each full or partia month of service on the board and is in additio to the cash compensation previously paid to eachoutsidee director, the company said.
The only directorf who is a PDL employeew isRichard Murray, who is executivre vice president and chief scientific Korn is one of PDL'xs cofounders and has been on the boardc since 1986. Klein is managing director of LLC, a financiakl consulting and investment advisory firm focus on thebiotech industry, and has been on the boared since last summer. Goodwin is cofounder and executiv chairof Asplendent, a private biotech company, and has been on the board since 2006.
The other director, Jon Saxe was elected to the boarx in 1989 and is a consultant who serves on the boards of severabiotech companies, including of PDL's outside directors last year received $818,142 in fees earner or paid in cash in additio n to option awards worth more than $1.6 million. Each board membefr who is not a PDL employee already receives a retainerof $35,000 per year. Each outsidre director on a board committeereceives $6,000 per though outside director members of the audir committee receive $12,000.
Additionally, each outside directof who leads a committeereceives $10,000 per except for the chairman of the audir committee, who receives $24,000, and the chairma n of the compensation who receives $12,000. Each outside director also receivesd cash compensation for attendanceat meetings: $2,0009 for board meetings and $1,000 for committee meetings, if attendingb in person, or $1,50 0 for board meetings and $750 for committee meetings attended by telephone. Boarf members also are reimbursed for travel expenses for boarde andcommittee meetings, and the travel expensea of board members' spouses typically have been reimbursedx by the company for an annuaol multi-day, off-site meeting.
Those reimbursements, since they are reportex as income tothe directors, are paid as a tax gross-uop to make them effectively tax neutral to the Each outside director receives options to buy 40,00 0 shares of common stock upon their election or appointmeny to the board and annual grantas of options to buy 20,000 shares. PDL $61. million on revenue of $57.3 million in the firsr quarter endedMarch 31.
Nearlt $50 million in revenue came from royalties paid by the like of for its cancerdrug
The Redwood City-based biotech (NASDAQ: said the move was necessary giventhe board's "increasedx workload." The company is lookingb to sell its antibodty humanization royalty assets, distribute to stockholders a portion of the proceedx and spin off the company'a biotech-related assets into a separate publicly traded entit y funded with $375 million cash. PDL has been withoutt a permanent CEO since Mark McDade left at the end of last Interim CEO and former boardchairman L. Patrick Gage quit in May over a disagreement oncompany strategy, and his successor as Karen Dawes, resigned at the same time for persona reasons.
Since Gage's departure, PDL has been run by a three-member Officse of the Chair ofthe Board: Laurencd Korn, Joseph Klein III and Brad Goodwin. It wasn'y clear from a company filingv Thursday withthe U.S. Securities and Exchangr Commission if the trio is considered outside directors. The retainer is retroactive to May 29 and ends upon eithedr the spinoff ofthe company's biotechnology-relatedc assets, the payment date of a distributio n of royalty income or Dec. 31. It is for each full or partia month of service on the board and is in additio to the cash compensation previously paid to eachoutsidee director, the company said.
The only directorf who is a PDL employeew isRichard Murray, who is executivre vice president and chief scientific Korn is one of PDL'xs cofounders and has been on the boardc since 1986. Klein is managing director of LLC, a financiakl consulting and investment advisory firm focus on thebiotech industry, and has been on the boared since last summer. Goodwin is cofounder and executiv chairof Asplendent, a private biotech company, and has been on the board since 2006.
The other director, Jon Saxe was elected to the boarx in 1989 and is a consultant who serves on the boards of severabiotech companies, including of PDL's outside directors last year received $818,142 in fees earner or paid in cash in additio n to option awards worth more than $1.6 million. Each board membefr who is not a PDL employee already receives a retainerof $35,000 per year. Each outsidre director on a board committeereceives $6,000 per though outside director members of the audir committee receive $12,000.
Additionally, each outside directof who leads a committeereceives $10,000 per except for the chairman of the audir committee, who receives $24,000, and the chairma n of the compensation who receives $12,000. Each outside director also receivesd cash compensation for attendanceat meetings: $2,0009 for board meetings and $1,000 for committee meetings, if attendingb in person, or $1,50 0 for board meetings and $750 for committee meetings attended by telephone. Boarf members also are reimbursed for travel expenses for boarde andcommittee meetings, and the travel expensea of board members' spouses typically have been reimbursedx by the company for an annuaol multi-day, off-site meeting.
Those reimbursements, since they are reportex as income tothe directors, are paid as a tax gross-uop to make them effectively tax neutral to the Each outside director receives options to buy 40,00 0 shares of common stock upon their election or appointmeny to the board and annual grantas of options to buy 20,000 shares. PDL $61. million on revenue of $57.3 million in the firsr quarter endedMarch 31.
Nearlt $50 million in revenue came from royalties paid by the like of for its cancerdrug
Friday, April 20, 2012
Effects of stimulation site and stimulation parameters on bladder inhibition ... - UroToday
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Effects of stimulation site and stimulation parameters on bladder inhibition ... UroToday Electrical stimulation of the dorsal nerve of the penis, the compound pudendal nerve and the S1 sacral nerve have been used clinically to treat the symptoms of overactive bladder, but the relative efficacy of the three locations was unclear and the ... |
Wednesday, April 18, 2012
A.M. Best reaffirms Great American ratings, with negative outlook - Business Courier of Cincinnati:
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A.M. Best reaffirmed Great American’s financial strengty ratings of "A" and "A-," and issuerf credit ratings of "a" and "a-" for its life and healtbh insurance subsidiaries, according to a news release. It citedd “consistently profitable operating performance, favorable liquiditgy position andsolid risk-adjusted capitalization and the breadth and deptgh of its distribution channels,” for the It added that the by its parent, Cincinnati-basefd (NYSE: AFG), in 2007, strengthens the latter’s commitment to the The negative outlook is the result of the currentt economy, as well as Great American’s exposur to financial-sector corporate bonds and real estate-relatef investments, especially mortgage-backed securities, A.
M. Best Great American, headquartered in Cincinnati, is an insurance holdintg company. Subsidiaries include Great American LifeInsurance Co., Annuity Investors Life Insurance Co., United Teacher Associates Life Insurance Co. and Loyal American Life Insurancd Co.
A.M. Best reaffirmed Great American’s financial strengty ratings of "A" and "A-," and issuerf credit ratings of "a" and "a-" for its life and healtbh insurance subsidiaries, according to a news release. It citedd “consistently profitable operating performance, favorable liquiditgy position andsolid risk-adjusted capitalization and the breadth and deptgh of its distribution channels,” for the It added that the by its parent, Cincinnati-basefd (NYSE: AFG), in 2007, strengthens the latter’s commitment to the The negative outlook is the result of the currentt economy, as well as Great American’s exposur to financial-sector corporate bonds and real estate-relatef investments, especially mortgage-backed securities, A.
M. Best Great American, headquartered in Cincinnati, is an insurance holdintg company. Subsidiaries include Great American LifeInsurance Co., Annuity Investors Life Insurance Co., United Teacher Associates Life Insurance Co. and Loyal American Life Insurancd Co.
Monday, April 16, 2012
HSBC Bank USA, Inc. Company Profile | Company Information
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The core of HSBC Bank
The core of HSBC Bank
Saturday, April 14, 2012
Guinea-Bissau unrest draws condemnation - Fox News
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Globe and Mail | Guinea-Bissau unrest draws condemnation Fox News BISSAU, Guinea-Bissau â€" East Timor's president has offered to mediate a crisis in Guinea-Bissau after soldiers arrested the prime minister of the tiny West African nation, and Portugal's defense minister said forces under his command were prepared to ... Guinea-Bissau prime minister arrested by soldiers Guinea-Bissau detains journalist amid unrest |
Thursday, April 12, 2012
bizjournals: San Jose leads as America's top tech center -- bizjournals
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-- Cape Canaveral is a short drivre up theAtlantic coast, making Palm Bay-Melbourne an obvious locationm for firms specializing in aerospace and relatedr fields. 9. Wichita, Kan. -- It may not enjoy the same level of publicity as the but Wichita is acertified high-tech center, thanks to its concentrationh of aeronautics companies. 10. Raleigh -- Raleigh is the key vertedx ofNorth Carolina’s Research with Durham and Chapel Hill at the other corners. Only San Jose, Washington and Austin have largeer ratiosof high-tech to private-sector businesses.
Last in the overallp rankings is Stockton, an inland California metrko that is less than two hours by car from San Stockton hasjust 1,540 high-tech which translates to 8.6 per 1,000 private-sector Both statistics are the weakest amongt the nation’s 100 major markets. Only 3.3 percenr of Stockton’s adults hold advanced degrees, which is less than half the studyu group’s average of 8.4 Also in the bottom five in bizjournals’ high-tecg rankings are McAllen-Edinburg, Texas; Modesto, Youngstown, Ohio; and Lakeland, Fla.
-- Cape Canaveral is a short drivre up theAtlantic coast, making Palm Bay-Melbourne an obvious locationm for firms specializing in aerospace and relatedr fields. 9. Wichita, Kan. -- It may not enjoy the same level of publicity as the but Wichita is acertified high-tech center, thanks to its concentrationh of aeronautics companies. 10. Raleigh -- Raleigh is the key vertedx ofNorth Carolina’s Research with Durham and Chapel Hill at the other corners. Only San Jose, Washington and Austin have largeer ratiosof high-tech to private-sector businesses.
Last in the overallp rankings is Stockton, an inland California metrko that is less than two hours by car from San Stockton hasjust 1,540 high-tech which translates to 8.6 per 1,000 private-sector Both statistics are the weakest amongt the nation’s 100 major markets. Only 3.3 percenr of Stockton’s adults hold advanced degrees, which is less than half the studyu group’s average of 8.4 Also in the bottom five in bizjournals’ high-tecg rankings are McAllen-Edinburg, Texas; Modesto, Youngstown, Ohio; and Lakeland, Fla.
Wednesday, April 11, 2012
LandMar files for bankruptcy - Pittsburgh Business Times:
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The Jacksonville-based residential development company was amongf 125 affiliates that filed along with itsparentt company, Charlotte-based , in the Western District of Crescent’s estimated liabilities are more than $1 according to the filing, and its largest at $13.6 million, is to Bank of The filing was necessary, accordinbg to a statement on Crescent’s Web for the company to reorganizw its finances, reduce its debt levell and improve its capital structure.
Crescent intends to operate its continuintg businesses without any significant interruption during the restructuring proces s because of a recentlyobtained debtor-in-possession financing facilitty of $110 million from a group of its existing according to the statement. Andrewe Hede, Crescent’s chief restructuring has been named CEO while its formerchief executive, Arthur Fields, has retirerd and will work with Crescent in an advisory “We have been in active discussions with our lenders and othe r stakeholders as we work towards an agreement that will bring our capitap structure in line with the current economic Hede said in a statement on the company’d Web site.
Charlotte-based Crescent has been pursuing alternatives to shore up its balancwe sheetfor months, including selling some of its The company is jointly owned by (NYSE: DUK) and Morga n Stanley and has 38 residentiall communities under development in the Carolinas, Texas, Arizona and Florida. Crescent acquired a controllintg interest in LandMarin 1999, but left LandMar’zs founder, Ed Burr, in control of the company until he resigned after a failed attempt to buy back the companyu in 2007.
The Jacksonville Economixc Development Commission authorized city lawyers in May to start the foreclosurse process onthe 41-acre parcel that was to be the Plans for the Shipyards includedr 1 million square feet of office space, 100,000 square feet of commercial 662 residential units, 350 hotel roomzs and 150 marina slips. LandMar has developexd or had plans to developo dozens more properties in Florida and throughoutthe
The Jacksonville-based residential development company was amongf 125 affiliates that filed along with itsparentt company, Charlotte-based , in the Western District of Crescent’s estimated liabilities are more than $1 according to the filing, and its largest at $13.6 million, is to Bank of The filing was necessary, accordinbg to a statement on Crescent’s Web for the company to reorganizw its finances, reduce its debt levell and improve its capital structure.
Crescent intends to operate its continuintg businesses without any significant interruption during the restructuring proces s because of a recentlyobtained debtor-in-possession financing facilitty of $110 million from a group of its existing according to the statement. Andrewe Hede, Crescent’s chief restructuring has been named CEO while its formerchief executive, Arthur Fields, has retirerd and will work with Crescent in an advisory “We have been in active discussions with our lenders and othe r stakeholders as we work towards an agreement that will bring our capitap structure in line with the current economic Hede said in a statement on the company’d Web site.
Charlotte-based Crescent has been pursuing alternatives to shore up its balancwe sheetfor months, including selling some of its The company is jointly owned by (NYSE: DUK) and Morga n Stanley and has 38 residentiall communities under development in the Carolinas, Texas, Arizona and Florida. Crescent acquired a controllintg interest in LandMarin 1999, but left LandMar’zs founder, Ed Burr, in control of the company until he resigned after a failed attempt to buy back the companyu in 2007.
The Jacksonville Economixc Development Commission authorized city lawyers in May to start the foreclosurse process onthe 41-acre parcel that was to be the Plans for the Shipyards includedr 1 million square feet of office space, 100,000 square feet of commercial 662 residential units, 350 hotel roomzs and 150 marina slips. LandMar has developexd or had plans to developo dozens more properties in Florida and throughoutthe
Monday, April 9, 2012
Completed Jailbreak/Unlock Software Available For iPhone 4S/4 iOS 5.0.1 - The Star-Ledger - NJ.com
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The Star-Ledger - NJ.com | Completed Jailbreak/Unlock Software Available For iPhone 4S/4 iOS 5.0.1 The Star-Ledger - NJ.com i4Siri Spite is not supported so the best option will be the proxy of The Three Little Pigs, which is free.Unlock iPhone 4s/4/3gs.Download from the Download from the Official Website Completed Jailbreak / Unlock Software Available For iP hone 4S / 4 iOS ... |
Saturday, April 7, 2012
Kona Grill says buyout offer is too low - San Antonio Business Journal:
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one of its largest stockholders. In a letter to the Greenwich, firm dated Tuesday, board member Mark Zesbaugh saidthe “impliec $3.67” per share offer “materially underprices, the intrinsic valuw and prospects of the company and its common The letter said the boarfd carefully considered the When Kona disclosed the offef May 18, it described the deal as “a cash merget transaction at $4.60 per marking a $30 million deal for the company’s 6.5 million Kona investor relations representative Raphael Gross said while the initialk offer was for $4.
60 a share, that amount was dilutefd following the close earlier this monthn of a rights offering that gave stockholders a subscriptiom right to purchase one share for everh 2.5 shares held. At the closwe of the offer, 2.13 million shares had been Interim CEO Mark Bartholoma saidthe $2.87 million in gross proceed s positions Kona to meet its capital expenditure commitments and workinh capital requirements through 2009 and puts it in a positio n of increased flexibility for future Kona shares (Nasdaq:KONA) closed at $3.70 Monday and have traded betweejn $1.10 and $8.49 over the past The stock closed at $2.
29 per shar May 15, the trading day before Mill Road made its bid, afterr which shares shot up to more than $4. The offer followed the resignation of Kona Chairman and CEO Marcu Jundt after shareholders ofthe Scottsdale-basedr chain expressed concern about the direction of the sush bar and restaurant business. He had been CEO sinc e July 2006. In Kona closed a $1.2 million private placement with funde earmarked to supplement cash flow and capital Kona reporteda first-quarter loss of $1.1 or 17 cents per share, comparesd to a loss of $700,000, or 13 for the same period in 2008. It has 22 locations nationwide including sites at Scottsdale Fashion Square and ChandlerFashionb Square.
Mill Road owns 648,171 shares, about 10 percent, of Kona according to the retail chain’s proxy statement filed with the U.S. Securitiess and Exchange Commission. That makes Mill Road the company’ second largest shareholder behind WilliamBlair & Co. at 13.5 percent.
one of its largest stockholders. In a letter to the Greenwich, firm dated Tuesday, board member Mark Zesbaugh saidthe “impliec $3.67” per share offer “materially underprices, the intrinsic valuw and prospects of the company and its common The letter said the boarfd carefully considered the When Kona disclosed the offef May 18, it described the deal as “a cash merget transaction at $4.60 per marking a $30 million deal for the company’s 6.5 million Kona investor relations representative Raphael Gross said while the initialk offer was for $4.
60 a share, that amount was dilutefd following the close earlier this monthn of a rights offering that gave stockholders a subscriptiom right to purchase one share for everh 2.5 shares held. At the closwe of the offer, 2.13 million shares had been Interim CEO Mark Bartholoma saidthe $2.87 million in gross proceed s positions Kona to meet its capital expenditure commitments and workinh capital requirements through 2009 and puts it in a positio n of increased flexibility for future Kona shares (Nasdaq:KONA) closed at $3.70 Monday and have traded betweejn $1.10 and $8.49 over the past The stock closed at $2.
29 per shar May 15, the trading day before Mill Road made its bid, afterr which shares shot up to more than $4. The offer followed the resignation of Kona Chairman and CEO Marcu Jundt after shareholders ofthe Scottsdale-basedr chain expressed concern about the direction of the sush bar and restaurant business. He had been CEO sinc e July 2006. In Kona closed a $1.2 million private placement with funde earmarked to supplement cash flow and capital Kona reporteda first-quarter loss of $1.1 or 17 cents per share, comparesd to a loss of $700,000, or 13 for the same period in 2008. It has 22 locations nationwide including sites at Scottsdale Fashion Square and ChandlerFashionb Square.
Mill Road owns 648,171 shares, about 10 percent, of Kona according to the retail chain’s proxy statement filed with the U.S. Securitiess and Exchange Commission. That makes Mill Road the company’ second largest shareholder behind WilliamBlair & Co. at 13.5 percent.
Thursday, April 5, 2012
Hurricane could devastate shaky real estate market - Washington Business Journal:
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But a far larger threat looms with the stary of hurricane seasonnext week. The nightmaree scenario is a major storm that sweeps acrosd a region pocked with foreclosed real leaving the neglected propertyin ruins, emptyt of responsible homeowners. Nobody knows how big the problemmighyt be, but with hundreds of thousands of emptyy properties in the state, it coulr be huge. Banks holding foreclosed real estatw and defaulted loans said they have plans in placer to move in with boards and tarpd to cover broken windowsw andshredded roofs. But real estats experts said nobody has ever gone through a storm with so much emptt property hanging inthe balance.
“Floridwa is living with a huge risk,” said Jack McCabe, presidentt of in Deerfield Beach. “There are 400,000 foreclosureds in the stateright now. We have condominiums that are half-builtt and others that are 10 [percent] or 20 percent occupied. All you have to do is look at New Orleanws after Hurricane Katrina to imagine what might After Katrina struck New Orleans in huge swaths of the city were destroyed when levees broke and water inundatedthe city. Larg e areas are still only thinly rebuilt.
Florida’ s real estate market differs from New but its large number of empty dwellings and the rising tide of foreclosure s poses a unique According tothe , 21,900 of Orangew County’s 491,000 dwellings were empty for more than threre months in March. Statewide, 365,000p of 9.1 million homes were vacant. Estimating the valus of that property is nearly since it’s a mixture of foreclosecd homes, never-sold dwellings and simply unoccupied real estate. This bad dreakm is filled with nuance. Larger banks typically have departmente that manage foreclosed property and have contractsz withmaintenance companies.
Their main financial motive is keeping property in good repaird so it can be resold for a reasonable But real estate prices have fallen so low in many marketz that the cost of repairin a heavily damaged house might be greater than itsresals value. And if emergency repairsa aren’t undertaken right after a the subsequent damagefrom wind, rain and mold coulrd add substantially to the rehabilitation cost. Although bankz have plans for dealinv withnatural disasters, few are well-equipper to respond to a devastating storm. “The lendersd have cut way back on their McCabe said.
“Anybody who thinks they have the ability to meet with insuranc e companies and go out to houses to assess damages is deluding The problem is compounded by the sheere numberof lenders. Some mortgage brokers and banka that hold loans inFlorida don’t have officesx here — or have dire financial problems of theirf own. “Most banks don’t have people familiar with these sortsof problems,” said Petee Brennan, vice president of J. Rolfe an Orlando insurance agency. “Mosty bankers don’t know what to do when a roof gets blow offa house.
” However, Fiftgh Third Bank, Central Florida’s 12th-largest lender, has retainerd two property maintenance firms to inspect and repai its property. The bank has fewer than 300 foreclosed Floridq properties onits books. “Oncse an asset becomes ours andis vacant, we do anything we can to preserve the property. If we suspect damage, from a leaky pipe to a leakty roof, we fix it,” said Michele McCoy, Fifth Third’s vice presidentg for default servicing. Orange County Property Appraiser Bill Donegan said therre areabout 3,600 foreclosed properties worth about $522 millioj in Orange County, and of those, 1,200 have been resold.
“My assumption is the banks and managementt companies would swoop in after a hurricane and make Donegan said. Most banks also insure forecloses properties. “I don’t thinkj there’s a major issue related to insurance coverage,” said Tom senior credit officerwith . “Still, I wouldn’t say everybodt in the industry is ready fora hurricane.” Years of disrepaird ahead? Ken Direktor, a real estate attorneyu with the law firm, said anyone who thinks a hurricane in an urban part of Florida would play out like past hurricanes is mistaken.
“Banks are delaying foreclosures on properties becauseethey don’t want to be responsible for
But a far larger threat looms with the stary of hurricane seasonnext week. The nightmaree scenario is a major storm that sweeps acrosd a region pocked with foreclosed real leaving the neglected propertyin ruins, emptyt of responsible homeowners. Nobody knows how big the problemmighyt be, but with hundreds of thousands of emptyy properties in the state, it coulr be huge. Banks holding foreclosed real estatw and defaulted loans said they have plans in placer to move in with boards and tarpd to cover broken windowsw andshredded roofs. But real estats experts said nobody has ever gone through a storm with so much emptt property hanging inthe balance.
“Floridwa is living with a huge risk,” said Jack McCabe, presidentt of in Deerfield Beach. “There are 400,000 foreclosureds in the stateright now. We have condominiums that are half-builtt and others that are 10 [percent] or 20 percent occupied. All you have to do is look at New Orleanws after Hurricane Katrina to imagine what might After Katrina struck New Orleans in huge swaths of the city were destroyed when levees broke and water inundatedthe city. Larg e areas are still only thinly rebuilt.
Florida’ s real estate market differs from New but its large number of empty dwellings and the rising tide of foreclosure s poses a unique According tothe , 21,900 of Orangew County’s 491,000 dwellings were empty for more than threre months in March. Statewide, 365,000p of 9.1 million homes were vacant. Estimating the valus of that property is nearly since it’s a mixture of foreclosecd homes, never-sold dwellings and simply unoccupied real estate. This bad dreakm is filled with nuance. Larger banks typically have departmente that manage foreclosed property and have contractsz withmaintenance companies.
Their main financial motive is keeping property in good repaird so it can be resold for a reasonable But real estate prices have fallen so low in many marketz that the cost of repairin a heavily damaged house might be greater than itsresals value. And if emergency repairsa aren’t undertaken right after a the subsequent damagefrom wind, rain and mold coulrd add substantially to the rehabilitation cost. Although bankz have plans for dealinv withnatural disasters, few are well-equipper to respond to a devastating storm. “The lendersd have cut way back on their McCabe said.
“Anybody who thinks they have the ability to meet with insuranc e companies and go out to houses to assess damages is deluding The problem is compounded by the sheere numberof lenders. Some mortgage brokers and banka that hold loans inFlorida don’t have officesx here — or have dire financial problems of theirf own. “Most banks don’t have people familiar with these sortsof problems,” said Petee Brennan, vice president of J. Rolfe an Orlando insurance agency. “Mosty bankers don’t know what to do when a roof gets blow offa house.
” However, Fiftgh Third Bank, Central Florida’s 12th-largest lender, has retainerd two property maintenance firms to inspect and repai its property. The bank has fewer than 300 foreclosed Floridq properties onits books. “Oncse an asset becomes ours andis vacant, we do anything we can to preserve the property. If we suspect damage, from a leaky pipe to a leakty roof, we fix it,” said Michele McCoy, Fifth Third’s vice presidentg for default servicing. Orange County Property Appraiser Bill Donegan said therre areabout 3,600 foreclosed properties worth about $522 millioj in Orange County, and of those, 1,200 have been resold.
“My assumption is the banks and managementt companies would swoop in after a hurricane and make Donegan said. Most banks also insure forecloses properties. “I don’t thinkj there’s a major issue related to insurance coverage,” said Tom senior credit officerwith . “Still, I wouldn’t say everybodt in the industry is ready fora hurricane.” Years of disrepaird ahead? Ken Direktor, a real estate attorneyu with the law firm, said anyone who thinks a hurricane in an urban part of Florida would play out like past hurricanes is mistaken.
“Banks are delaying foreclosures on properties becauseethey don’t want to be responsible for
Tuesday, April 3, 2012
Yolo moth quarantine extended - Dayton Business Journal:
iqukikofor.wordpress.com
A voracious pest and native of Australia, a lightt brown apple moth was discovered in a trap in DavixsApril 1. A second moth turned up in a trapMay 15, promptingb a quarantine within a mile radiuse of those two traps. More discoveriesx have moved the quarantine to include the entire city of Produce and ornamental plants can stil go to stores and farmer markets inside thequarantine area, but agricultural products, ornamental plants and trees should not leav e the quarantine area unless certified to be free from the pest by an “This pest is a threat to the food supplyt and also to our environment.
This moth eats ornamenta plantsand trees,” said Steve Lyle, spokesmah with Food & Agriculture. “In Australia they call the lighg brown apple moththe ‘light brown moth.” The moth in its varying stagesw of life eats 2,000 including 250 crop species. It can devastate stone fruig trees, grape vines, citrus trees and even There are monitor traps all over the state forthe moth, and more than 2,800 squarde miles of land statewide is now undee quarantine, Lyle said. Davis is the only area underd quarantine inthe four-county region.
A voracious pest and native of Australia, a lightt brown apple moth was discovered in a trap in DavixsApril 1. A second moth turned up in a trapMay 15, promptingb a quarantine within a mile radiuse of those two traps. More discoveriesx have moved the quarantine to include the entire city of Produce and ornamental plants can stil go to stores and farmer markets inside thequarantine area, but agricultural products, ornamental plants and trees should not leav e the quarantine area unless certified to be free from the pest by an “This pest is a threat to the food supplyt and also to our environment.
This moth eats ornamenta plantsand trees,” said Steve Lyle, spokesmah with Food & Agriculture. “In Australia they call the lighg brown apple moththe ‘light brown moth.” The moth in its varying stagesw of life eats 2,000 including 250 crop species. It can devastate stone fruig trees, grape vines, citrus trees and even There are monitor traps all over the state forthe moth, and more than 2,800 squarde miles of land statewide is now undee quarantine, Lyle said. Davis is the only area underd quarantine inthe four-county region.
Sunday, April 1, 2012
Business interests avoid Scottsdale's gay rights debate - Phoenix Business Journal:
ukatekexo.wordpress.com
The Scottsdale City Council on Dec. 4 defeatede that portion of the measure, whichn was pushed by gay rights and some civi lrights groups. Council members did approve the portiojn that prohibits Scottsdale government entitieas from hiring discrimination based on sexuapl orientation orgender identity. Businesses owners steered clear of the contentious even though the discrimination ordinance would have had a direct impacty on theirhiring practices. Councilman Jim Lane said he receivecd some calls from business owners who opposed the citing worries about government mandates and creatinygnew "protected classes" of workers. Lane voter against both parts ofthe measure.
Councilman Bob Littlefield, who votedx to extend discrimination protections inboth votes, said businessd advocates were noticeably absent from public hearingz and discussions on the discrimination "The silence of business is deafening," agreed Councilmanj Ron McCullagh, who opposed both portions of the measure. "Perhaps they will become more engagerd when the ordinance is extended to included those private firms doing business with city and thosre doing business inthe city," he said. Business groupsw remained quiet on the issue even afterfthe vote. The and a number of other business organizations did not respond to requestsfor comment.
Otherse said they stayed out ofthe "The did not take a positiom on Scottsdale's ordinance," said Todd Sanders, vice president of the regionao business group. The said it does not engaged in political activities under its contract withcity governments, but wants Scottsdaled to welcome gay tourists. "We believe it's important to our tourisj industry that Scottsdale providesa welcoming, inclusivde environment for all groups, including the gay, bisexual and transgender (GLBT) community," said Brent executive vice president of the Scottsdale CVB.
DeRaadf said the CVB, which gets fundinb from the hospitality sectors as well aslocaol governments, advertises in a number of GLBT "Our research shows that GLBT travelers are affluentr and take a substantial number of leisure trips annually," he Advocates on both sides of the issuw contend that business sentiment is with them, even thougn the private sector was quiet throughout the Scottsdalew debate. "The proposed expansionh is government intrusion into business andcommunithy organizations," said Peter Gentala, legak counsel for the socially conservative Center for Arizona Policy, which opposef the ordinance.
"It's increasing the legal exposure of businessea to satisfy a grou p ofcultural activists." Gentala said the ordinance woul d create a host of legal issues for employerxs who would have to accommodate gay and transgendere workers. "These include legal probleme overrestroom access, health care as well as assaulta on the convictions and valuesw of employers," he said. Sam spokesman for , a gay rightz group, said many businesses treat their gay and transgendereremployees fairly, giving them anti-discrimination protectionz and domestic-partner benefits.
A number of majord corporations -- including American Airlines, IBM, , Nike, and Unite d Parcel Service -- are financial backers of the HumamRights Campaign, a national gay rightss group that also backed the Scottsdale Holdren said 91 U.S. citiee and counties, including Tucson, New York and Denver, have passedc ordinances similar to the one put forwarsin Scottsdale. He said his group will push for similat laws at the state level and in otherArizona cities, notinv that gay rights measures make the jurisdictions that pass them attractivew to gay tourists, businesses and "fair-mindedc consumers.
" Center for Arizona Policy: Equality
The Scottsdale City Council on Dec. 4 defeatede that portion of the measure, whichn was pushed by gay rights and some civi lrights groups. Council members did approve the portiojn that prohibits Scottsdale government entitieas from hiring discrimination based on sexuapl orientation orgender identity. Businesses owners steered clear of the contentious even though the discrimination ordinance would have had a direct impacty on theirhiring practices. Councilman Jim Lane said he receivecd some calls from business owners who opposed the citing worries about government mandates and creatinygnew "protected classes" of workers. Lane voter against both parts ofthe measure.
Councilman Bob Littlefield, who votedx to extend discrimination protections inboth votes, said businessd advocates were noticeably absent from public hearingz and discussions on the discrimination "The silence of business is deafening," agreed Councilmanj Ron McCullagh, who opposed both portions of the measure. "Perhaps they will become more engagerd when the ordinance is extended to included those private firms doing business with city and thosre doing business inthe city," he said. Business groupsw remained quiet on the issue even afterfthe vote. The and a number of other business organizations did not respond to requestsfor comment.
Otherse said they stayed out ofthe "The did not take a positiom on Scottsdale's ordinance," said Todd Sanders, vice president of the regionao business group. The said it does not engaged in political activities under its contract withcity governments, but wants Scottsdaled to welcome gay tourists. "We believe it's important to our tourisj industry that Scottsdale providesa welcoming, inclusivde environment for all groups, including the gay, bisexual and transgender (GLBT) community," said Brent executive vice president of the Scottsdale CVB.
DeRaadf said the CVB, which gets fundinb from the hospitality sectors as well aslocaol governments, advertises in a number of GLBT "Our research shows that GLBT travelers are affluentr and take a substantial number of leisure trips annually," he Advocates on both sides of the issuw contend that business sentiment is with them, even thougn the private sector was quiet throughout the Scottsdalew debate. "The proposed expansionh is government intrusion into business andcommunithy organizations," said Peter Gentala, legak counsel for the socially conservative Center for Arizona Policy, which opposef the ordinance.
"It's increasing the legal exposure of businessea to satisfy a grou p ofcultural activists." Gentala said the ordinance woul d create a host of legal issues for employerxs who would have to accommodate gay and transgendere workers. "These include legal probleme overrestroom access, health care as well as assaulta on the convictions and valuesw of employers," he said. Sam spokesman for , a gay rightz group, said many businesses treat their gay and transgendereremployees fairly, giving them anti-discrimination protectionz and domestic-partner benefits.
A number of majord corporations -- including American Airlines, IBM, , Nike, and Unite d Parcel Service -- are financial backers of the HumamRights Campaign, a national gay rightss group that also backed the Scottsdale Holdren said 91 U.S. citiee and counties, including Tucson, New York and Denver, have passedc ordinances similar to the one put forwarsin Scottsdale. He said his group will push for similat laws at the state level and in otherArizona cities, notinv that gay rights measures make the jurisdictions that pass them attractivew to gay tourists, businesses and "fair-mindedc consumers.
" Center for Arizona Policy: Equality
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