Dayton renews pledge to raise school funding Minneapolis Star Tribune Gov. Mark Dayton unveiled a sweeping vision for Minnesota education Friday aimed at improving child literacy, ... |
Saturday, February 5, 2011
Dayton renews pledge to raise school funding - Minneapolis Star Tribune
burdukovahycel.blogspot.com
Wednesday, February 2, 2011
Guaranty Bank: FDIC assistance needed for survival - Houston Business Journal:
http://usbhero.com/franklin-chef-fwc36.html
Guaranty’s parent company, , stater that it is in discussions with the FDIC and itsprimaryy regulator, the , for a plan where the FDIC woulde absorb a portion of the bank’s lossee while private investors providd a “significant equity capital infusion.” Guaranty’sz largest shareholders are Dallas billionaire Robert Rowling and activist investorf Carl Icahn, who control 20% and just more than 17% of the bank'sw common stock, respectively. Guaranty is the fourth-largesf independent banking institution basedin Texas. It has 162 offices in Texaxs and Californiaand $11.
6 billioj in deposits, according to the latest data "Guaranty Bank continues to work closely with its regulatore to find a way forward," said bank spokesmam John Wessman in a writte statement. "We believe strongly that open bank assistance is in the best interesrt ofour depositors, and that it meets the standard of beinfg the least costly alternative for governmen t regulators.” Bank representatives declined to commentr further. It's not clear when the regulator will respond or reactto Guaranty's At $14.4 billion in assets, Guarantyg Bank is bigger than the largesf bank that has failed so far this a distinction now held by FSB of Coralo Gables, Fla.
The bank had $12.98 billion in assets when it failed, according to the The bulk of BankUnited’s good assets were sold in May to a privatde equity investment group ledby W.L. Ross Co. and . Before that, BankUnited had proposedd an open assistance planto regulators, but word of that plan didn’ t become public until aftefr BankUnited failed. In laying out its optionw before shareholders and the public in a Securitiez and ExchangeCommission Guaranty’s executives are showing what they’re doing to keep the bank said Dan Bass, a banking analyst with “They’re putting all theire cards on the table,” he said.
Guaranty is suggestinb a rare option — one the FDIC woul only use if it’s the least costlu way for the FDIC’sd deposit insurance fund to resolvde Guaranty’s issues, according to the bank. Guaranthy is officially based in but PresidentKevin Hanigan, CFO Ronald Murff and Treasurerf Stephen Raffaele work from its Dallas businesx banking office in Preston Center. More than bad loans, Guarantg invested heavily in mortgage-backed securities, which todagy are worth much less than what the bank IfGuaranty doesn’t receive FDIC it will have to mark down the value of its securities portfolio and related itemss by more than $1.
7 billion, the bank said in its regulatoryu filing. That would give the compan a $2.2 billion annual loss in 2008 and less capita than it needs to continuedin business. In early April regulators ordered Guaranty to raise additionak capital byMay 21. That deadline has passed. For 21 Guaranty was been a subsidiaryof , a makerf of cardboard boxes and timber building supplies. Guarantyg was spun out of Temple-Inland at the urging of Temple-Inland (NYSE: TIN) completed the spinoff on Dec. 28, 2007, just as the excessesz of the residential mortgage lending bubblebecame apparent. Guaranty investedx heavily in securities backes by mortgages madein California.
It has not reporter a quarterly profit sincee it becamea stand-alonr institution. Since its spinout from Templ Inland, Icahn and Rowling have investede heavilyin Guaranty. In July, the duo investeds an additional $600 million in They control 37 percent ofGuarantuy stock.
Guaranty’s parent company, , stater that it is in discussions with the FDIC and itsprimaryy regulator, the , for a plan where the FDIC woulde absorb a portion of the bank’s lossee while private investors providd a “significant equity capital infusion.” Guaranty’sz largest shareholders are Dallas billionaire Robert Rowling and activist investorf Carl Icahn, who control 20% and just more than 17% of the bank'sw common stock, respectively. Guaranty is the fourth-largesf independent banking institution basedin Texas. It has 162 offices in Texaxs and Californiaand $11.
6 billioj in deposits, according to the latest data "Guaranty Bank continues to work closely with its regulatore to find a way forward," said bank spokesmam John Wessman in a writte statement. "We believe strongly that open bank assistance is in the best interesrt ofour depositors, and that it meets the standard of beinfg the least costly alternative for governmen t regulators.” Bank representatives declined to commentr further. It's not clear when the regulator will respond or reactto Guaranty's At $14.4 billion in assets, Guarantyg Bank is bigger than the largesf bank that has failed so far this a distinction now held by FSB of Coralo Gables, Fla.
The bank had $12.98 billion in assets when it failed, according to the The bulk of BankUnited’s good assets were sold in May to a privatde equity investment group ledby W.L. Ross Co. and . Before that, BankUnited had proposedd an open assistance planto regulators, but word of that plan didn’ t become public until aftefr BankUnited failed. In laying out its optionw before shareholders and the public in a Securitiez and ExchangeCommission Guaranty’s executives are showing what they’re doing to keep the bank said Dan Bass, a banking analyst with “They’re putting all theire cards on the table,” he said.
Guaranty is suggestinb a rare option — one the FDIC woul only use if it’s the least costlu way for the FDIC’sd deposit insurance fund to resolvde Guaranty’s issues, according to the bank. Guaranthy is officially based in but PresidentKevin Hanigan, CFO Ronald Murff and Treasurerf Stephen Raffaele work from its Dallas businesx banking office in Preston Center. More than bad loans, Guarantg invested heavily in mortgage-backed securities, which todagy are worth much less than what the bank IfGuaranty doesn’t receive FDIC it will have to mark down the value of its securities portfolio and related itemss by more than $1.
7 billion, the bank said in its regulatoryu filing. That would give the compan a $2.2 billion annual loss in 2008 and less capita than it needs to continuedin business. In early April regulators ordered Guaranty to raise additionak capital byMay 21. That deadline has passed. For 21 Guaranty was been a subsidiaryof , a makerf of cardboard boxes and timber building supplies. Guarantyg was spun out of Temple-Inland at the urging of Temple-Inland (NYSE: TIN) completed the spinoff on Dec. 28, 2007, just as the excessesz of the residential mortgage lending bubblebecame apparent. Guaranty investedx heavily in securities backes by mortgages madein California.
It has not reporter a quarterly profit sincee it becamea stand-alonr institution. Since its spinout from Templ Inland, Icahn and Rowling have investede heavilyin Guaranty. In July, the duo investeds an additional $600 million in They control 37 percent ofGuarantuy stock.
Monday, January 31, 2011
Franchot: Financial questions on State Center project will require vigilance - Atlanta Business Chronicle:
kapitonragomo.blogspot.com
Franchot, who joined Gov. Martin O’Mallegy and Treasurer Nancy Kopp onthe state’s Boarsd of Public Works in voting for the $1.4 billioj State Center redevelopment projectr Wednesday afternoon, said he does not know enough about the project’sz costs to the state or whether the projecft is even practical given the nationwide credit crunch. “k believe the project has a lot of promise and is deservingvof support,” Franchot said in a telephone interview Wednesday. “I voted for it, but am goinfg to continue to be vigilant aboutr the fiscal exposure tothe state.
” The deal involves the statwe leasing its midtown Baltimore office complexz to a private development which would then redevelop the property into a mix of shops and homes. The state would then lease back a majorithy ofthe project’s 2 million squard feet of office space for use by its various statre agencies. But the terms of the deal have not been hammereedout yet, as Franchot and the Board of Public Works voted Wednesdau only on a master development agreement. With that agreementf in place, the development team will now create designs for its planned buildings and come back to the statw for approval on morespecific designs, and lease terms.
The developmen team, which includes national housingdeveoper McCormack, Baro & Salazar, would borrow $888 million to finance its according to the Department of Legislative Services. The state would issue another $338 million in State and federal tax credit programs would pick upanother $234 millio in project costs, with the remainde of the project’s costs being contributer directly by the developerw or other investors. Franchot said that scenario raisexsseveral concerns, including the ability for the state or the developerzs to borrow money in the midst of the nationwidew credit crunch.
He said he’s also concerned about the state’w ability to negotiate fair lease terms with the developersw given they would both be heavilt invested in making sure the projecytis successful. “The problekm is that the credit markets are bone Franchot said. “Obviously this is a long-term but I’m not confident that the private sector will finance this in a way that the state canafforr it.” In addition, Franchot said he isn’yt sure why the state would make the project a priority above other pressing needs such as new college dormitories or othed state-funded construction projects.
Franchot, who joined Gov. Martin O’Mallegy and Treasurer Nancy Kopp onthe state’s Boarsd of Public Works in voting for the $1.4 billioj State Center redevelopment projectr Wednesday afternoon, said he does not know enough about the project’sz costs to the state or whether the projecft is even practical given the nationwide credit crunch. “k believe the project has a lot of promise and is deservingvof support,” Franchot said in a telephone interview Wednesday. “I voted for it, but am goinfg to continue to be vigilant aboutr the fiscal exposure tothe state.
” The deal involves the statwe leasing its midtown Baltimore office complexz to a private development which would then redevelop the property into a mix of shops and homes. The state would then lease back a majorithy ofthe project’s 2 million squard feet of office space for use by its various statre agencies. But the terms of the deal have not been hammereedout yet, as Franchot and the Board of Public Works voted Wednesdau only on a master development agreement. With that agreementf in place, the development team will now create designs for its planned buildings and come back to the statw for approval on morespecific designs, and lease terms.
The developmen team, which includes national housingdeveoper McCormack, Baro & Salazar, would borrow $888 million to finance its according to the Department of Legislative Services. The state would issue another $338 million in State and federal tax credit programs would pick upanother $234 millio in project costs, with the remainde of the project’s costs being contributer directly by the developerw or other investors. Franchot said that scenario raisexsseveral concerns, including the ability for the state or the developerzs to borrow money in the midst of the nationwidew credit crunch.
He said he’s also concerned about the state’w ability to negotiate fair lease terms with the developersw given they would both be heavilt invested in making sure the projecytis successful. “The problekm is that the credit markets are bone Franchot said. “Obviously this is a long-term but I’m not confident that the private sector will finance this in a way that the state canafforr it.” In addition, Franchot said he isn’yt sure why the state would make the project a priority above other pressing needs such as new college dormitories or othed state-funded construction projects.
Friday, January 28, 2011
Zelienople, Butler Farm Show, Finleyville airports win state grants - Pittsburgh Business Times:
enemerose-wisconsini.blogspot.com
in Beaver County will receive $22,509 for a remote communications outlet that will let pilots communicate with Pittsburgh AirTraffic Control. The Butler Farm Show Aiport in Butler County willreceivew $112,500 for construction of security perimetef fencing. And the in Washington County willreceiver $127,500 to build a hangar, modernizre its administration building and upgrade the fule farm’s credi t card system. The money comesd from Pennsylvania’s tax on jet fuel and is administeredr bythe . The three Pittsburgh-areas grants are among 16 being madethroughout Pennsylvania. In all, the states is spending $3 million and leveraging $904,809 in local matching funds.
The other projectx are: in Bucks County, whicjh will receive $225,000 to assis with the purchase of land belowe the approach tothe airport; in Cambria which will receive $30,000 to repairf fuel facility equipment; in Centre County, which will receives $750,000 for a project to widejn and pave the runway; in Centre County, whicuh will receive $123,750 to buy a jet refueling in Cumberland County, which will receive $183,75 for a runway lighting system project; in Dauphin which will receive $135,900 for an aircraft parkingh and taxiway project; in Lancaster County, whichh will receive $210,000 for an aircraft parkingb and taxiway project; in Labanon which will receive $37,500 to buy snow removal and mowinbg equipment; in Lehigh County, which will receivw $58,500 for pavement maintenance; in McKean County, which will receivee $112,500 to buy 20 acres of land for futured development; in Montgomery County, which will receivd $82,500 to continue the removakl of runway obstructions and improve in Northampton County, which will receive $127,50p for new runway lights and a new electricapl vault, and in Wyoming County, which will receive $375,009 for airfield and terminal “Airports are important assets that can attracty new business and create Rendell said in a written statement announcing the “We are making the smart investment s necessary to increase economic vitality and facilitate the more than $12 billion in state revenure the aviation industry yields each By investing in our aviation assets we can help sustainm our communities and retaib jobs across Pennsylvania.
”
in Beaver County will receive $22,509 for a remote communications outlet that will let pilots communicate with Pittsburgh AirTraffic Control. The Butler Farm Show Aiport in Butler County willreceivew $112,500 for construction of security perimetef fencing. And the in Washington County willreceiver $127,500 to build a hangar, modernizre its administration building and upgrade the fule farm’s credi t card system. The money comesd from Pennsylvania’s tax on jet fuel and is administeredr bythe . The three Pittsburgh-areas grants are among 16 being madethroughout Pennsylvania. In all, the states is spending $3 million and leveraging $904,809 in local matching funds.
The other projectx are: in Bucks County, whicjh will receive $225,000 to assis with the purchase of land belowe the approach tothe airport; in Cambria which will receive $30,000 to repairf fuel facility equipment; in Centre County, which will receives $750,000 for a project to widejn and pave the runway; in Centre County, whicuh will receive $123,750 to buy a jet refueling in Cumberland County, which will receive $183,75 for a runway lighting system project; in Dauphin which will receive $135,900 for an aircraft parkingh and taxiway project; in Lancaster County, whichh will receive $210,000 for an aircraft parkingb and taxiway project; in Labanon which will receive $37,500 to buy snow removal and mowinbg equipment; in Lehigh County, which will receivw $58,500 for pavement maintenance; in McKean County, which will receivee $112,500 to buy 20 acres of land for futured development; in Montgomery County, which will receivd $82,500 to continue the removakl of runway obstructions and improve in Northampton County, which will receive $127,50p for new runway lights and a new electricapl vault, and in Wyoming County, which will receive $375,009 for airfield and terminal “Airports are important assets that can attracty new business and create Rendell said in a written statement announcing the “We are making the smart investment s necessary to increase economic vitality and facilitate the more than $12 billion in state revenure the aviation industry yields each By investing in our aviation assets we can help sustainm our communities and retaib jobs across Pennsylvania.
”
Wednesday, January 26, 2011
Western-Southern annuities on record-setting pace - Business Courier of Cincinnati:
pohevovotybuc.blogspot.com
Western & Southern sold $1.25 billion in annuitiews during the first four months of the it saidlast week. That puts it on pace to beat last year’e total fixed and variable annuity salesof $2.97 billiobn by 26 percent. The company’es 2008 annuity sales soaredc 59 percent from theprior year. “Our stronf annuity sales are a direct resul t of the ongoing flightto quality,” CEO John Barretg said in a news release. Westernn & Southern carries a AA+ ratinfg from Standard & Poor’s, making it one of the world’ds nine strongest life insurance groups. Sales through banka have been a big partof downtown-basedx Western & Southern’s growth.
Those sales generate d $523 million so far this or about 40 percent ofthe company’s total annuity sales. Bank-related sales more than doublesdlast year. Western & Southern’s sales placer it among the nation’s largest providers of individualannuity products, according to , an associatiom of life insurers and financial firms.
Western & Southern sold $1.25 billion in annuitiews during the first four months of the it saidlast week. That puts it on pace to beat last year’e total fixed and variable annuity salesof $2.97 billiobn by 26 percent. The company’es 2008 annuity sales soaredc 59 percent from theprior year. “Our stronf annuity sales are a direct resul t of the ongoing flightto quality,” CEO John Barretg said in a news release. Westernn & Southern carries a AA+ ratinfg from Standard & Poor’s, making it one of the world’ds nine strongest life insurance groups. Sales through banka have been a big partof downtown-basedx Western & Southern’s growth.
Those sales generate d $523 million so far this or about 40 percent ofthe company’s total annuity sales. Bank-related sales more than doublesdlast year. Western & Southern’s sales placer it among the nation’s largest providers of individualannuity products, according to , an associatiom of life insurers and financial firms.
Sunday, January 23, 2011
Business leaders collaborate to form Go Green! Wichita - Boston Business Journal:
http://www.amctv.com/mt/mt-cp.cgi?__mode=view&id=99734
The program is the brainchild of Kennedy and Coe LLC Principal Dixie Larson and Marketing CoordinatorCandace Wilson. The organization, whicnh will be a 501(c)3 nonprofit, plans to open membershi p this fall. Representatives from 15 Wichita businessea met Tuesday and formed a steerinyg committee to set in motion a plan of action for the A second meeting is planned for Mondahy to decideon guidelines, including how companiee can become members.
The group has invitedd city and state representatives to attend the The goal, Larson says, is to encourags local businesses to becomse more environmentally conscious and encourage greatefr participation in recycling and energh and natural resources conservation practices. “Thee reason we did it is to created a green environment in Wichita and to foste other companies to participateas well,” Larson says. The effort alreadyg is generating interest, she “When we brainstormed this concept severalmonthx ago, I was amazed to learn people were very passionate aboutr being environmentally conscious,” Larson says.
“I thought if just this handfup of people were interested then the hundreds of businesses in our city mighyt beas well.” In addition to , representatives from , , , , , , , , , , , and Sedgwicjk County are involved.
The program is the brainchild of Kennedy and Coe LLC Principal Dixie Larson and Marketing CoordinatorCandace Wilson. The organization, whicnh will be a 501(c)3 nonprofit, plans to open membershi p this fall. Representatives from 15 Wichita businessea met Tuesday and formed a steerinyg committee to set in motion a plan of action for the A second meeting is planned for Mondahy to decideon guidelines, including how companiee can become members.
The group has invitedd city and state representatives to attend the The goal, Larson says, is to encourags local businesses to becomse more environmentally conscious and encourage greatefr participation in recycling and energh and natural resources conservation practices. “Thee reason we did it is to created a green environment in Wichita and to foste other companies to participateas well,” Larson says. The effort alreadyg is generating interest, she “When we brainstormed this concept severalmonthx ago, I was amazed to learn people were very passionate aboutr being environmentally conscious,” Larson says.
“I thought if just this handfup of people were interested then the hundreds of businesses in our city mighyt beas well.” In addition to , representatives from , , , , , , , , , , , and Sedgwicjk County are involved.
Thursday, January 20, 2011
'American Idol' Premiere Ratings Hit Historic Lows - MTV.com
http://bklynbunny.com/about.html
MTV.com | 'American Idol' Premiere Ratings Hit Historic Lows MTV.com For the most part, fans were feeling pretty good about Wednesday night's season 10 debut of "American Idol." The show seemed to have found a ... |
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