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million. This project is expectedc to begin in July and should be completec byMay 2011. • Interstate 55 from Routee 61/67 (Lindbergh Blvd.) to 4500 S. Broadway —Replacemeny and rehabilitation ofthree bridges, resurfacinfg of ramps, upgrading signals, lighting, signing and sidewalks. This project was awarded to , Marylanr Heights, for $6.6 million. This projec is expected to begim in August and should be completed byDecembeer 2010.
• Route 50 at the intersection ofDenmark Road/Progresx Parkway and Route 50 from Routew 47 south to east of Denmark Road —Constructioh of turn lanes at the Route 50 and Denmarlk Road/Progress Parkway intersection and roadway widening on Route 50 from Route 47 south of east of Denmark Road. Thes e projects were awarded tofor $5 million. This projectg is expected to begin in July and be completee byOctober 2010. • Interstate 64 from Tayloer toVandeventer —Improvements to guardrail, barrierr and signing at this location in the city of St. Louis. This projecft was awarded to FredWeber Inc.
, Maryland Heights, for $3 This project is expected to begin this month and be completede by November. • Interstate 70 at Routed 40/61 and Route A from Route 61 to Interstatew70 —Slide repair on Route 40/61 near the southbound Router 61 bridge over I-70, and bridge rehabilitation and pavement improvementsw on Route A from Routed 61 to I-70. These projects were awarded to , for nearly $2.4 million. This projecrt is expected to begin in Augusgt and should be completedby December.
• Interstate 70 from Biddles Street to WashingtonStreet —Bridge improvements on Interstatew 70 from Biddle Streett to Washington Street (Broadway-Cole Street viaductr in front of the Edward Jones This project was awarded to , Arnold, for nearlyu $2 million. This projecgt is expected to begib this month and be completedcby September. • Various routes and variouds locationsthroughout St. Louis City and St. Louis Count y — Call guardrail repaif due to vehicle crash damage or othersuddem occurrences. This project was awarded to , St. Louis for $1.6 This project is expected to begin in July and shoulde be completed byJune 2011.
Interstate 70 outer roads from Routw K to Route79 —Pavement resurfacing on the Interstate 70 north and south outer roads from Route K to Route 79 in St. Charles County. This projectg was awarded to , Ellisville, for $1 million. This project is expecte d to begin in July and should be completedby September. Route 231(Telegraph Road) from Christophe Road to the MeramecRivetr — Pavement work on Route 231(Telegrapj Road) from Christopher Road to the Meramec This project was awarded to N.B. West St. Louis, for $768,000. This project is expectedf to begin in July and be completecby October.
• Various routes and various locationx throughout Franklin and Jefferson counties Call guardrail repair due to vehicle crashes or otheesudden occurrences. This project was awarded to Collins andHermann Inc., St. for $702,000. This project is expected to begin in July and shoulds be completed byJune 2011. Route 94 from Clarki Street to south of Route370 — Pavement resurfacing at this location in St. Charles This project was awardesto LLC, St. Louis, for $580,500. This projectf is expected to begin in July and shoulde be completedby December. • Route C from Mid River Mall Drive to the end of statmaintenance — Pavement resurfacing at this location in St.
Charles County. This projecgt was awarded to , Maryland for $482,000. This project is expected to begin in July and be completedby • Various routes and varioud locations throughout St. Charles County Guardrail repair due to vehicle crashes or othedsudden occurrences. This project was awardedd to Collins andHermann Inc., St. for $444,000. This project is expected to begi n in July and shouldx be completed byJune 2011. Route 180 (St. Charles Rock Road) at Lacklanfd Road and Hanley Road and at RouteD (Page and Ashby Road —Installation of pedestria accommodations at these locations in St. Louisd County. This project was awardedd to , Fenton, for $369,000.
This project is expectexd to begin in July and should be completeeby November. • Interstate 44 from Interstate 270 to Routr109 — Asphalt shoulder repair on I-44 at this locationm in St. Louis County. This project was awardedx to PaceConstruction Co., St. Louis, for This project is expected to beginm in July and shoulrd be completedby October. • Route 141 at Centurion and Route 30 at RoutePP — Adding a righ t turn lane at Route 141 and Centurioh in St. Louis County and constructiohn of a southbound right turn lane at Route 30 at the Routse PP intersection inJefferson County. This projecft was awarded to N.B. West St.
Louis, for This project is expected to begin in July and should be completedfby August. • Interstate 44 from Southwesrt Avenue to theeastbound I-44 on ramp — Add a left turn lane at this locatioh in the city of St. Louis. This project was awardedc to , Arnold, for nearly $121,000. This project is expected to begin in July and endby
Sunday, March 18, 2012
Friday, March 16, 2012
Labor protestors plan demonstrations for iPad launch - Apple Insider
vidineevostegity.blogspot.com
GigaOm | Labor protestors plan demonstrations for iPad launch Apple Insider By Mikey Campbell Protestors looking to steal a bit of Apple's iPad launch day thunder are preparing to hold demonstrations at various Apple Store locations on Friday in hopes of spreading awareness about the labor conditions in the Chinese factories ... Apple labor protestors to target new iPad sale Friday Protestors planning to be at Apple Stores again this Friday Protesters Join Line At Midtown iPad Release |
Wednesday, March 14, 2012
Cincinnati, Hamilton Co. propose 10 for Port Authority board - Austin Business Journal:
firukendu-anchored.blogspot.com
The two presented a slate of board members to OttoBudig Jr., president of Budco Grouo Inc.; Tom Williams, president and CEO of North American Properties; Lydia Jacobs-Horn, director, global facilities and real estate, Procter & Gamblew Co.; Marty Dunn, a partner with the law firm Dinsmorde & Shohl; Joe Zimmer, executive secretary, Greater Cincinnati Building & Construction Trades Council; Clark senior vice president, human resources, Convergya Corp.; Lynn Marmer, group vice presidenrt for corporate affairs, Kroger Co.
; Richared Greiwe, principal, Greiwe Developmentg Group; Shane Wright, vice president and chief financial officer, GE Aviation; and Karen managing director, Americas & Caribbean, Colliers International. The Port Authority’s powerw were expanded in August 2008 to include the ability to levya one-mill tax subject to approval, the ability to own propert and the power of eminent domain, subject to approvapl by the city and “The new structure will allow the Port to be a much more aggressivs tool in our efforts to expand our loca l economy and create jobs,” Mallory said in a news The city and county are expectef to vote on the slate durinhg their meeting June 17, according to the release.
The two presented a slate of board members to OttoBudig Jr., president of Budco Grouo Inc.; Tom Williams, president and CEO of North American Properties; Lydia Jacobs-Horn, director, global facilities and real estate, Procter & Gamblew Co.; Marty Dunn, a partner with the law firm Dinsmorde & Shohl; Joe Zimmer, executive secretary, Greater Cincinnati Building & Construction Trades Council; Clark senior vice president, human resources, Convergya Corp.; Lynn Marmer, group vice presidenrt for corporate affairs, Kroger Co.
; Richared Greiwe, principal, Greiwe Developmentg Group; Shane Wright, vice president and chief financial officer, GE Aviation; and Karen managing director, Americas & Caribbean, Colliers International. The Port Authority’s powerw were expanded in August 2008 to include the ability to levya one-mill tax subject to approval, the ability to own propert and the power of eminent domain, subject to approvapl by the city and “The new structure will allow the Port to be a much more aggressivs tool in our efforts to expand our loca l economy and create jobs,” Mallory said in a news The city and county are expectef to vote on the slate durinhg their meeting June 17, according to the release.
Monday, March 12, 2012
Duke Energy hires Cisco Systems for
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The three-year agreement is the latestr development inDuke Energy’s effort to convert its analog electricith infrastructure into a digital system that reduce energy use and boosts reliability. The architecture will be basedon Internet-protoco standards that will adapt to new communications “Our goal is to rapidlu transform the way electricity is deliveredc to, and used by, the 11 million peoplse we serve in five states,” says Todd senior vice president for smart grid and customer systema at Duke Energy. In Cisco will work with Duke Energty to develop and installhome energy-managemeny devices to help customers control and reducse their electricity consumption.
Financial terms of the agreement weren’t Charlotte-based Duke Energy (NYSE:DUK) includew Duke Energy Carolinas and the former Cincinnati Gas Electric Co. in Union Light, Heat and Power in Kentucku and PSI Energyin Indiana. Cisc o Systems (NASDAQ:CSCO) is a California-based designedr and manufacturer ofnetworking
The three-year agreement is the latestr development inDuke Energy’s effort to convert its analog electricith infrastructure into a digital system that reduce energy use and boosts reliability. The architecture will be basedon Internet-protoco standards that will adapt to new communications “Our goal is to rapidlu transform the way electricity is deliveredc to, and used by, the 11 million peoplse we serve in five states,” says Todd senior vice president for smart grid and customer systema at Duke Energy. In Cisco will work with Duke Energty to develop and installhome energy-managemeny devices to help customers control and reducse their electricity consumption.
Financial terms of the agreement weren’t Charlotte-based Duke Energy (NYSE:DUK) includew Duke Energy Carolinas and the former Cincinnati Gas Electric Co. in Union Light, Heat and Power in Kentucku and PSI Energyin Indiana. Cisc o Systems (NASDAQ:CSCO) is a California-based designedr and manufacturer ofnetworking
Saturday, March 10, 2012
Acuity Brands
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The Atlanta-based lighting products company had net incom eof $22 million and earnings of 53 cents a compared with net income of $41.1 million and earnings of $1 a shars in the third quarter of 2008. Sales for the periosd fell 23 percentto $396. million. The results for the thirrd quarter of 2009 also were impacted by highe r raw material andcomponent costs, whichh were nearly $8 million higher than the prior year “Net sales for the thirc quarter of 2009 continued to be impacted by the significantt decline in construction activity, particularly in key marketsz such as commercial and office said Vernon J. Nagel, chairman, and CEO of Acuity in an earnings release.
“New construction continuee to be impacted by lower economic activityh and tight credit markets for real estate We were able to partiallg mitigate the impact oflower sales, including realizinyg benefits from our continuous improvemenrt initiatives and on-going streamlining efforts whilew continuing to invest in innovativee and energy-efficient products.” Acuityh Brands (NYSE: AYI) owns and operatesd Acuity Brands Lighting, whose brands includre Lithonia Lighting, Holophane, Mark Architectural Lighting, Hydrel, Americanh Electric Lighting, Gotham, SpecLight, MetalOptics, Antique Street Lamps, Lighting Control and Design, ROAM and Synergy Lighting Controls.
It also owns and Acuity Brands TechnologyhServices Inc.
The Atlanta-based lighting products company had net incom eof $22 million and earnings of 53 cents a compared with net income of $41.1 million and earnings of $1 a shars in the third quarter of 2008. Sales for the periosd fell 23 percentto $396. million. The results for the thirrd quarter of 2009 also were impacted by highe r raw material andcomponent costs, whichh were nearly $8 million higher than the prior year “Net sales for the thirc quarter of 2009 continued to be impacted by the significantt decline in construction activity, particularly in key marketsz such as commercial and office said Vernon J. Nagel, chairman, and CEO of Acuity in an earnings release.
“New construction continuee to be impacted by lower economic activityh and tight credit markets for real estate We were able to partiallg mitigate the impact oflower sales, including realizinyg benefits from our continuous improvemenrt initiatives and on-going streamlining efforts whilew continuing to invest in innovativee and energy-efficient products.” Acuityh Brands (NYSE: AYI) owns and operatesd Acuity Brands Lighting, whose brands includre Lithonia Lighting, Holophane, Mark Architectural Lighting, Hydrel, Americanh Electric Lighting, Gotham, SpecLight, MetalOptics, Antique Street Lamps, Lighting Control and Design, ROAM and Synergy Lighting Controls.
It also owns and Acuity Brands TechnologyhServices Inc.
Wednesday, March 7, 2012
Richardson Brands to expand in Montgomery County - Charlotte Business Journal:
http://www.carwheelsgo.com/sumitomo/h4htrsumitomo/
State officials said Thursday that Richardson, whic makes candy in Canajoharie, will receive $1.5 million to help it buy new That’s the first step in a three-yeare expansion plan for the company. The companyh employs 128 people, and planas to add 70 jobs overthreee years. The company had considered moving its Canajoharie headquarters to the site of a Connecticug company that Richardson acquired in if state funding wasnot Instead, the company will move the 40 jobs in Connecticutg to Canajoharie. Another 30 local jobs will come from a companhy in Missouri that Richardsomnis acquiring; the deal is schedulerd to close in July. “We never wanted to leave said CEODonald Butte.
“The timing on this is Richardson buys steam heat from a baby food company that is leavint its Canajoharie site in April 2010 to move into a new headquarterz in the townof Florida, outsides of Amsterdam. That left Richardsoj in a bind, and needinhg financial assistance to buy its own boilersw to heatits 180,000-square-foot facility. The new low-emission boilers, and additionakl related machinery, will help Richardson add 15 jobs. Butte orderedx the boiler on May 16, befores the state formally committed toits funding.
The boiler is tentativelty due to be delivered in March 2010—one month before Beech-Nut is set to “They think they can get it to us in 10 That’s squeaking it in befor e the shutdown,” Butte said with a chuckle. The total project cost is estimatedat $2.4 Richardson is putting $385,000 into the project. Buttr has said he needs as muchas $14 million of state funding over threre years to help complete his expansion planxs and fix flood damage at his facility, suffere d during the 2006 flooding of the Mohawk In a signed agreement, the state committee to work with Richardson on the next phasre of the company’s expansion plans.
State officials said Thursday that Richardson, whic makes candy in Canajoharie, will receive $1.5 million to help it buy new That’s the first step in a three-yeare expansion plan for the company. The companyh employs 128 people, and planas to add 70 jobs overthreee years. The company had considered moving its Canajoharie headquarters to the site of a Connecticug company that Richardson acquired in if state funding wasnot Instead, the company will move the 40 jobs in Connecticutg to Canajoharie. Another 30 local jobs will come from a companhy in Missouri that Richardsomnis acquiring; the deal is schedulerd to close in July. “We never wanted to leave said CEODonald Butte.
“The timing on this is Richardson buys steam heat from a baby food company that is leavint its Canajoharie site in April 2010 to move into a new headquarterz in the townof Florida, outsides of Amsterdam. That left Richardsoj in a bind, and needinhg financial assistance to buy its own boilersw to heatits 180,000-square-foot facility. The new low-emission boilers, and additionakl related machinery, will help Richardson add 15 jobs. Butte orderedx the boiler on May 16, befores the state formally committed toits funding.
The boiler is tentativelty due to be delivered in March 2010—one month before Beech-Nut is set to “They think they can get it to us in 10 That’s squeaking it in befor e the shutdown,” Butte said with a chuckle. The total project cost is estimatedat $2.4 Richardson is putting $385,000 into the project. Buttr has said he needs as muchas $14 million of state funding over threre years to help complete his expansion planxs and fix flood damage at his facility, suffere d during the 2006 flooding of the Mohawk In a signed agreement, the state committee to work with Richardson on the next phasre of the company’s expansion plans.
Monday, March 5, 2012
Companies amend credit terms to satisfy lenders - bizjournals:
goldenayreyg1666.blogspot.com
The latest credit squeezed comes at acritical time. As the recession eats into sales, companies rely more on credi t topay bills. Five local public companiez have outlined changes to their lines of credit in filingds with the Securities and ExchangesCommission — one because its existing credit line had expiree and four because they were in danger of violatiny terms of their loans. Private companiesz are also feelingthe pinch. Many of the companiese are falling afoul of loan which may stipulate specific earnings levels or setminimum debt-to-equity ratios. To maintain their credit lines, they are beinh forced to renegotiate.
l The credit facility of Portland’s McCormick and Schmick’s Seafood Restaurants Inc. droppedc from $150 million to $90 million in late January, and its interestf rate climbed. l Medford’s Lithia Motors Inc. in Decembedr reduced available funds on a line of creditgto $150 million, from $300 and promised lenders it woulds limit dividend payments. l Vancouver, Wash-based Nautilus Inc. reducecd a $40 million line of credit to $30 and in March it agreedr to a higherinterest rate. l Wilsonville’e InFocus Corp.
kept its Welle Fargo credit facilityat $10 million, but agreerd to higher interest rates and new loan covenants, afte earnings before certain expenses fell below agreed-to levels. Mike Rompa, managing shareholder at accountinfg firm GeffenMesher & Co. in Portland, has seen growing numberzs of clients head into negotiatione withtheir banks. “This is often a reflectiomn of lower-than-expected cash flow,” Rompa said. Long-struggling which lost money in 2007 and was forced to renegotiats its Bank of America line of credit so that the loan wouldd continue to comply with itsfinanciaol covenant, Chief Financial Officer Kennetg Fish told investors in a March conference call.
In addition to havint less available credit, Nautilus’ weighted averagee interest rates onthe line’s outstanding debt climbed a full percentage point, to 5 Projector maker InFocus’ loan covenants requirerd minimum earnings before interest, taxes, depreciation and amortization levels — essentially cash flow. Falling sales pushed the company out of said CFOLisa K. Meanwhile, the company’s $10 million line of credig has become more important because of lower demand for The new agreement anticipatese continued net losses throughJune 30, and increasec the credit facility’s base interesyt rate by 2 percentage points.
“There’s only so much powef you have when you’ve missed your covenants,” Prenticer said. “We tried to negotiate, but they probablh had the upper hand.” But not all renegotiations are spurred bycovenant violations. In April, Portland-based chain saw manufactured BlountInternational Inc. reduced its GE Capitalp Corp. credit line from $150 million to $50 and agreed to a higher interest rate andhigher fees. Blount was not in violation of according toregulatory filings, but its line of credif was set to mature in August.
“We had to extencd it or find replacement financing,” said Blount CFO Calvin The cost of the credit facilitty would have been too highat $150 million, Jeness said, and in today’e marketplace $90 million was enough to meet the company’s needs. Blount’s higher interest rate, whic h effectively climbed from 2.5 percent to 7.5 is a reflection of the higher cost of credit in he said.
The latest credit squeezed comes at acritical time. As the recession eats into sales, companies rely more on credi t topay bills. Five local public companiez have outlined changes to their lines of credit in filingds with the Securities and ExchangesCommission — one because its existing credit line had expiree and four because they were in danger of violatiny terms of their loans. Private companiesz are also feelingthe pinch. Many of the companiese are falling afoul of loan which may stipulate specific earnings levels or setminimum debt-to-equity ratios. To maintain their credit lines, they are beinh forced to renegotiate.
l The credit facility of Portland’s McCormick and Schmick’s Seafood Restaurants Inc. droppedc from $150 million to $90 million in late January, and its interestf rate climbed. l Medford’s Lithia Motors Inc. in Decembedr reduced available funds on a line of creditgto $150 million, from $300 and promised lenders it woulds limit dividend payments. l Vancouver, Wash-based Nautilus Inc. reducecd a $40 million line of credit to $30 and in March it agreedr to a higherinterest rate. l Wilsonville’e InFocus Corp.
kept its Welle Fargo credit facilityat $10 million, but agreerd to higher interest rates and new loan covenants, afte earnings before certain expenses fell below agreed-to levels. Mike Rompa, managing shareholder at accountinfg firm GeffenMesher & Co. in Portland, has seen growing numberzs of clients head into negotiatione withtheir banks. “This is often a reflectiomn of lower-than-expected cash flow,” Rompa said. Long-struggling which lost money in 2007 and was forced to renegotiats its Bank of America line of credit so that the loan wouldd continue to comply with itsfinanciaol covenant, Chief Financial Officer Kennetg Fish told investors in a March conference call.
In addition to havint less available credit, Nautilus’ weighted averagee interest rates onthe line’s outstanding debt climbed a full percentage point, to 5 Projector maker InFocus’ loan covenants requirerd minimum earnings before interest, taxes, depreciation and amortization levels — essentially cash flow. Falling sales pushed the company out of said CFOLisa K. Meanwhile, the company’s $10 million line of credig has become more important because of lower demand for The new agreement anticipatese continued net losses throughJune 30, and increasec the credit facility’s base interesyt rate by 2 percentage points.
“There’s only so much powef you have when you’ve missed your covenants,” Prenticer said. “We tried to negotiate, but they probablh had the upper hand.” But not all renegotiations are spurred bycovenant violations. In April, Portland-based chain saw manufactured BlountInternational Inc. reduced its GE Capitalp Corp. credit line from $150 million to $50 and agreed to a higher interest rate andhigher fees. Blount was not in violation of according toregulatory filings, but its line of credif was set to mature in August.
“We had to extencd it or find replacement financing,” said Blount CFO Calvin The cost of the credit facilitty would have been too highat $150 million, Jeness said, and in today’e marketplace $90 million was enough to meet the company’s needs. Blount’s higher interest rate, whic h effectively climbed from 2.5 percent to 7.5 is a reflection of the higher cost of credit in he said.
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