Wednesday, September 29, 2010
Tuesday, September 28, 2010
Lehman woes complicate Misys-Allscripts merger - Triangle Business Journal:
Lehman, the Wall Street had committed toa $305 million term and revolvingv credit facility agreement with Misys planned on using the money, in to fund part of the $330 million it needes to pay to get a 54.5 percenft stake in the combined Allscripts-Misys. But this weekend, Lehman LEH) filed for Chapter 11 bankruptcy protection afterit couldn’t find a buyer or get the government to agree to a bailout. That, Misys makes it unclear whether Lehman will be able to give Misys thepromisedx money. Misys says it has starterd to look for other funding and is in talks with debt providers.
Misys Healthcare, a division of the Britisyh companyMisys plc, to buy control of Allscripta (Nadaq: MDRX), which is based in Both companies make health-care software for physicians offices. The deal will have a majore impact onthe Triangle. Misys Healthcare has its headquarteres and about 700 workersin Raleigh, while Allscripts has more than 300 employeesw in Cary. After the deal closes, the combinefd Misys-Allscripts will move its HQ to Layoffs alsoare expected, thoughj the companies both have said they won’ft comment on what will happen to employees untik after the deal closes.
In a statement, Allscriptw CEO Glen Tullman says the compan y still supports Misys in its efforts to find funding and closewthe deal. “While the events surroundin Lehman Brothersare unfortunate, we nevertheless remain excited about the transactions with Misyx and believe they are in the best interests of our stockholderxs and clients,” Tullman’s statement says. Allscripts has pushexd back a shareholder meeting, scheduled to take placd Sept. 22, to Oct. 6 in an efforrt to give Misys time to find Closing of the deal is not subject to afinancintg condition, a statement says.
Sunday, September 26, 2010
Athens holds distinction as oldest continuously run Holiday Inn - Online Athens
Athens holds distinction as oldest continuously run Holiday Inn Online Athens ... its golden anniversary this month and bears the singular distinction of being the oldest continuously running Holiday Inn franchise in North America. ... |
Saturday, September 25, 2010
Colonial BancGroup
Lowder's retirement will becomde effective when Colonial closesits $300 million with and othed purchasers, or sooner following the appointment of a replacement, Coloniao said in a release. The board of directors intends to name areplacement promptly, the release said. Lowder founded Colonial BancGroupo (NYSE: CNB) in 1981 with the acquisitionh of one bankin Birmingham, that had $161 million in assets. Colonial, now headquarterer in Montgomery, Ala., has since completed 68 acquisitions and has expanded to 352 locationsz in five states with morethan $26 billiomn in total assets. is among the largestg banks in the Tampa Bay area with50 $2.8 billion in deposits and a 3.
6 percen t deposit market share, according to the most recent informatiojn available from the Lowder previously was chairmaj and chief executive of , a family ownesd holding company of mortgage, construction, real estatre and insurance companies. He also was founder and chairman ofColonial Broadcasting, a company that owned radio station s in four states.
Thursday, September 23, 2010
Aquila continues endeavor to keep Cass power plant - Kansas City Business Journal:
The Kansas City-based utility ILA) is keeping up its fighyt to avoid tearing downa 315-megawatft gas-fired plant. Aquila and the have appealede a March 4 decision from the that ruled the PSC exceeded its authority in approving the plan after itwas built. In separatre motions, filed March 18 and Marchj 19, Aquila and the PSC askeed that the case be reheard or transferredf tothe . Cindy Mayer, a member of , which opposer construction ofthe plant, said she was disappointec by news of the "I do think the plantg should be torn down, absolutely. It nevetr should have been put up in thefirsrt place," Mayer said.
"It was put up without It was put up without the neighbors gettingg theirdue process." Al Butkus, an Aquila spokesman, said the Cass Countgy plant provides power for the community and monet for the local economy. The plant serves Aquila'sz 29,519 customers in Cass County and provides powere for customers of cooperatives andnearbyy municipalities, he said. The existing $140 million facility in Cass County, near the city of is a peaker plant. Unlike a base plant, the plany employs a handful of people and is designe d to provide power onlyduring high-demand such as hot summer days.
If forced to tear down the Aquila probably would look to build a replacement plant in Inthe summer, company executives spoke with Sedaliz officials and community residents about buying a 162-acre site in an industriaol park on the northwest edge of Sedalia. Nothingg has been finalized. Meanwhile, , which has a pendingg $1.7 billion offer to buy Aquila, said the controversy surroundinv the Cass County plant will not affectits "We were certainly aware of a number of issuex that Aquila was facing at the time we closedf our offer," said Michael Deggendorf, vice president of publifc affairs for Great Plains Energy.
"With those situations, and includinvg Cass County, we factored those risks into what wewere proposing."
Wednesday, September 22, 2010
Tennis nets big win - Lahontan Valley News
Tennis nets big win Lahontan Valley News Singles players Michael Moore, the son of coach Moore, Aaron Evett and Docavie Vendiola each manufactured two wins apiece. The doubles teams of Ryan Yates ... |
Monday, September 20, 2010
Old El Mercado lands carrier hotel - Houston Business Journal:
Hoping to capitalize on the new economy, a subsidiar of New York-based is under contract to purchasethe 200,000-square-foot-concret e building, develop an additional 50,000 square and turn the once-neglected building into a "carrier Morgan Stanley's newly formed company, , was set up last montg to acquire, develop, lease and managse carrier hotels, also called telecom hotels. The firm plans to simultaneously roll out facilitiex in up to 75 majorcities worldwide. And Houstonj is one of the first cities the real estatew equity fundis targeting, with two propertie already under contract.
"We can provide a solutionh that isn't in the marketplace," says Eric Assimakopoulos, CEO of In addition to The Americas the firm is eyeing a secondx property not farfrom downtown's east side. Assimakopoulos would not reveal itsexactf location. "Houston is a very importany market inour strategy," he says. "It'sd a gateway in Texas, and we thinki it's significant. A lot of carriers we target as tenants gothrougu Houston." Both buildings are being developed on a speculativse basis. But Assimakopoulos is highly confident thatthe high-techg facilities will score some major tenants.
"We believe it's an `if you buildr it, they will business," he says. "It's our goal to creatse an environment where we have an ecosystem for Internetcompanied -- a backbone for those core Assimakopoulos would not disclose specific but he says the investment being pumped into the two Houstoh properties exceeds $10 million. And more than $1.2 5 billion is being spent on carrier hotelprojectss worldwide, he adds. A carrier hotel is a specializexd facility operated toprovide telecommunications, Internet and data management companiesx with a customized infrastructure.
According to Assimakopoulos, most landlordsa don't understand the real estate needs these technologcompanies require. A set of specific criteriz is mandatory to operate acarrietr hotel, including high ceilings, large floor plates, high floot loads, high-grade electric capacity and access to multiple fibed optic carriers -- all of which The Americas building contains. Earliee this year, Moody Rambin Interests acquirede an old beer distribution facility at 5410 West Loop South and announcefd plans tospend $7 million to redevelo p it into a carrier (See "Beer hub convertz to `telecom hotel,' March 10.
) The Houston-based firm also has plansw to take the concept outside of Dan Moody III, vice president of investments for Moody says the Houston facility shoulx be completed this fall. And Moody says his goal is to have three facilitiesd online by the end ofthe year. "There'z tremendous demand in the marketplace. there's also a number of facilities under so there's a large amount of squard footage coming available," Moody "But not every vacant building in town is suitablde for the telecom industry, and a number of people seem to think that's the case.
" As the word continueas to get out about Houston's vast amountf of office space and comparatively low renta rates, Houston is primed to attract more high-tec tenants. "When we talk high-tech in we tend to think dot-com," says Bob president of real estate firmColliers International. "High-tech is telecom, aerospace, energy and more. In my opinion, Houstoj is the best-kept secret. We don'tg have just one area where high-tech companies In fact, the increasing number of technology companiesa locating in Houston are taking space not only in the downtownm andGalleria areas, but also in The the Medical Center, Clear Lake and Fort Bend County.
"There'd really not just one area where we have a concentratiom ofthese companies," says Parsley. "It's not like being on Palo Alto'as Sand Hill Road in Silicon Valley." The Americas located at the intersection of Navigationand Jensen, is just five blocks from Enronm Field.
Sunday, September 19, 2010
Friday, September 17, 2010
Good sports: WNY
Don’t take that to however, that East Aurora High School is one-dimensionallyt bookish. It also happens to have the in WestermnNew York, according to a Businesxs First analysis of records from 2005 to the “We’ve been on a roll the last few years, whicj has been just great,” says Jay East Aurora’s principal. “The people here expecgt us to have a comprehensive athletics They supportthe budget.
They’ve given us first-rate athletics It’s clearly a priority for the East Aurora has won 17 sectional championships in team sports since 2005, a record unmatched by any competitord in Section VI, which includes all public high schoolzs in Cattaraugus, Chautauqua, Erie and Niagarza counties and a coupl e in Orleans County. The resuly is a decisive victor onBusiness First’s scale of athletid excellence, which awards anywhere from one to four pointz for each sectional title, giving the highest credit for championshipw won during the most recent year. East Aurora emerges as the region’s best high schoopl in team sports with42 points.
Orchardf Park is second with 30 points, and Randolph, Clarencse and Maple Grove round out thetop five. for the list of the top 50 sportse programs inSection VI. The correlation between these standings andBusinesse First’s academic ratings is surprisingly strong. Four of the top five schoolw for sports also rank among WesterNew York’s 20 best high schools academically. “To some success in one area can breed succeszin another,” says Hoagland. “If kids experienced success outside the they develop a sense of prideand self-worth.
I thinm that carries over and helps them in the Business First tallied the Sectiohn VI champions in 18 interscholasticc team sports over the pastfour years, beginninv with the spring season of 2005 and extendinf through the winter of 2009. (That timeframew was selected because spring 2009 champions had not been determined by the deadlinde forthis publication.) Basketball, bowling, cross country, soccer and volleyball, which are played separately by boys and accounted for 12 of the 18 sports in the The other six were football and wrestling for boys, field hockey and softbalo for girls, and rifle, which has coed The study did not includee sports that crown but not team champions, such as tennis and track and Section VI slots schools into a variety of enrollmenrt classifications for different sports.
Five champions are crowned each year in for example, but only three in field Champs in all classifications were countedf equally in this study, yielding a mixturd of big and small schools in the top 10. Businesz First based each school’s final rankin g on two factors -- its numbetr of sectional titles and the yeard in which theywere won. Four points were awarded for each victory during the most recentyear (springy 2008 through winter 2009), down to one poingt for each title in the most distanf year (spring 2005 through winter 2006). Ties were broken by the totalp numberof championships. Sixty-eight schools won a total of 296 titles in team sports duringthe four-year period.
This is the firstg time that Business First has analyzed the athletice programs at localhigh schools. The resulting rating s are more limited in scope than theacademic rankings, which encompass all eight counties of Westernm New York. Section VI is closed to private and its boundaries exclude three ofthe region’e easternmost counties: Allegany, Genesee and Wyoming. Yet the 93 high schooles eligible for the sports rankings still account for morethan three-quarters of Western New York’s tota enrollment -- 78 percent of all students from gradesw nine through 12.
Thursday, September 16, 2010
Museum shows first Apple business plan - Sacramento Business Journal:
In a statement that might make a modermnreader chuckle, the 1977 IPO plan “Apple Computers’ Management team is young and relativeluy in-experienced in the high volume consumet electronics business.” The Macintosh businessx plan, dated July 12, 1981 and set in antiqure Mac fonts that look primitive to a moderjn eye, contains the exhortationm “and today is the first day of the rest of your It compares the performance of the $1,500 Mac (“644 to 128 k” memory) to other Apple computers such as the $2,500 Apples II (“32 to 64 k”) and the $5,000 Lisa (“256 to 1000 k” and weighing “45 + lbs”).
“Observe that everyone is introducing products inBand 3,” the document statez — “Band 3” being the nichde occupied by the Apple II. “I currently know of no products being developed by competition for Band2 (unfortunately this doesn’t mean there arn’t [sic] any!)” Band 2 is the nich Apple envisioned the Mac occupying. Apple’s early strateg was to encourage businesses to move up market to the expensiver Lisa and AppleIII computers, costing between $3,000 and while popular users would move down to the cheap Mac, “leaving Band 3 manufacturerss out in the cold!!
” Apple (Nasdaq: AAPL) sized up potentiao markets for the new computer, particularlt in education. “As Word Processors are replacinfg typewriters in the real students need to learn word notjust typing. MAC will help the student of the 80’as learn the tools of the 80’s.” Planneras guessed at about 19,000 high schools that mighgt buy Macs and upto 11.2 million college students to whom they could pitch the “MAC also provides Entertainment and Education for everyu member of the family,” the plan The plan estimates costsz for making the Mac at $395.
Afte r distribution costs, Apple hoped to clear a 33 percent operating profif fromeach $995 computer, rising to a 55 percent operatingg profit from a fancier $1,495 computer. About 63 people were workingy on the Mac project inDecembert 1981, according to the plan. “Europe has not been givejn muchconsideration yet.” “Whi will manufacture Macintosh? Should we, shouldc PCS, Singapore, Alps?” “Is our schedule realistic?” The preliminaryu plan for Apple’s initial public offering also shows much abour the early nature of the business. “Appl e Computer Inc. is a new compang which has not established a long history of thedocument says.
“Apple has experienced extreme difficulty in obtainingh its custom injected molded cases Apple management expects that rapird growth and potential market fluctuations may present severer cash flowmanagement difficulties.” “Thes two documents provide a rare glimpss into Apple’s history as a said Computer Museum chief executivew and president John Hollar. The documentx are available onthe museum’s .
Tuesday, September 14, 2010
Kirker
The landmark steakhouse in N.Y. closed its doors after 58 yearsdin business, a factor due mainlyu to a dwindling customer base. “Thw economy got us. We probablty tried to keep it alive for a yeartoo long,” said John who bought the steak house with his wife, Sue Adams, in 1992. The coupls plans to sell the restaurant equipmenftfor cash. The which sits on one acre at 959 New Loudon is listedfor $925,000. “We’rwe stretched out. We poured everythinb we had into this JohnAdams said. He said he’zs not sure yet if bankruptc y willbe necessary. The sale is beinh handled by Richard Rackowski, a commercialp property specialist within Albany.
No one is negotiating for the which can be sold outrightor leased, Rackowski John Adams says the location probablyu will have less appeal to potential buyers as a closee business. Until last year, the restaurant on Routr 9 was knownas Kirker’a Steak & Seafood. The Adamses renamec it last summer andadded lower-pricerd dishes to attract customers. Long-standing customers stopped in all weekenxd tosay goodbye, Adams said. “It was like a he said. “You pour your heart and soul and life into andthen it’s gone.
”
Monday, September 13, 2010
Tekne Awards finalists announced - Minneapolis / St. Paul Business Journal:
• Cleantech Award: Eagan-based , St. Paul-based and Minneapolis-basefd • Technology Executive of the Year Award, smalkl and growing companies (less than $50 millionm in annual revenue): Patrick Guire, St. Paul-based ; Mike Calvo, Minneapolis-baserd ; and Michael Lacey, Eden Prairie-baedr Digineer • Technology Executive of the Year Award, establishefd companies (more than $50 million in annual Rick King, Eagan-based ; Joel Eden Prairie-based ; and Bob Switz, Eden Prairie-basef • Advanced Manufacturing Award, small and growing companies: Minneapolis-based , Elk River-basedd • Advanced Manufacturing Award, established companies: Maplewood-based , Rosemount-baseds and Eden Prairie-based • Biotechnology Award: Eagan-baseds , Minneapolis-based Spring Poingt Project and St.
Paul-based Syntirob • IT Software & Hardware, Communicationsd and Infrastructure Award, small and growing companies: Minneapolis-based 7 Medical Systems, Maple Grove-based and Eden Prairie-bases • IT Software & Communications and Infrastructure Award, established companies: Eden Prairie-based ADC Telecommunications Inc., IBM Rochestedr and Eden Prairie-based • Medicalk Technology Award, small and growing: Parkers Prairie-based , St. Paul-base and Minneapolis-based • Medical Technology Award, establishef companies: Fridley-based , Eden Prairie-based and Eden Prairie-basedx • Technology Services Award, small and St.
Cloud-based eBureau, Minneapolis-based and St. Paul-based TIES. Technology Services Award, established companies: Eden Prairie-baseed , Eden Prairie-based and Eagan-based a Thomson Reuters business • Technology User Hennepin County, Minneapolis-based National Marrow Donotr Programand Collegeville-based • Greejn Award, small and growing: St. Paul-based , Delano-based and St. Paul-basec • Green Award, established companies: Maple Grove-based , IBM Rochester and Ramsey-bases Vision-Ease Lens • Innovative Collaboration of the Year and , Mankato-based Project Lead the Way Minnesotsa and St.
Louis Park-based BioBusiness Alliance of Minnesota/Owatonna-based Innovation in Teaching (K-12) Award: Will Bohrnsen, in St. Louis Scott Hovan, ; and Jill The Tekne Awards will bepresenter Oct. 30 at the Minneapolis Convention Center.
Saturday, September 11, 2010
Abbas thanks Assad for supporting Palestinian people - Jerusalem Post
Ha'aretz | Abbas thanks Assad for supporting Palestinian people Jerusalem Post Palestinian Authority chairman Mahmoud Abbas thanked Syrian dictator Bashar Assad late Friday for his country's support of the Palestinian people during ... Israel: The One-State Solution Should be Taken Off the Table |
Friday, September 10, 2010
Anglo Irish Says $32 Billion `Pretty Good' Estimate of Bank's Bailout Cost - Bloomberg
Reuters | Anglo Irish Says $32 Billion `Pretty Good' Estimate of Bank's Bailout Cost Bloomberg Chief Executive Officer Mike Aynsley, seen here, said Anglo Irish รขcan't re » |
Wednesday, September 8, 2010
CIA rendition: US court throws out torture case, citing state secrets - Christian Science Monitor
CBS News | CIA rendition: US court throws out torture case, citing state secrets Christian Science Monitor Appeals court judges sound apologetic tone in ruling; plaintiffs say they were tortured overseas in 'extraordinary rendition' program. ... Citing Obama's State Secrets Privilege, Court Tosses Torture Case Appeals court throws out suit against Jeppesen unit in CIA torture case CIA-Rendition Suit Against Boeing Dismissed By Court |
Tuesday, September 7, 2010
SWA Group climbs to greener heights - San Francisco Business Times:
Yet as the employee-owned landscape architecture and urbab design firm hasexpanded internationally, it is watchin g the growth’s impact on an open culturer that has been key to SWA’xs success. The firm this summe named Kevin Shanley of the Houston office as chiefvexecutive — the first CEO in SWA’s 51 yearss who is not based in Sausalitpo or San Francisco — and it has opened three new offices in the past five years. “We had a concepf from the beginning ofminimizing hierarchy,” said Bill a 40-year veteran of the firm who moved from the CEO post to chairmanj this summer.
“If you get around 40 (peopler in an office), you need middle Then it’s half art, half business. It’d not a studio after When deciding who to add as a for example, the current principals don’t put the mattefr to the vote; instead, they come to a And the San Francisco branch, for one, downplayw walled-off offices, preferring open space in which the five principalsd work alongside associates. In all, SWA has 30 principalxs among its 190employees — twic as many principals as most firms. “The next generation’w bought into it,” Callaway said.
That is, in tied to the firm’s employee stock ownership one of the first on the West Coast when it startedin 1974. said René Bihan, managing principal of the SanFrancisco it’s because young additions to the firm are pairede with veterans. That’s helped keep turnover in the ranges of 15 percent to20 percent, compared with an industryg average of 23 percent. Along the way, SWA has turnee in solid, award-winning work.
The firm handled masted planning for the huge Shenzhen Bay projectin China, whichn restored native vegetation to a tramplede ecosystem while mixing in transit and pedestrian it oversaw landscape architecture and urban designj for Beijing Finance Street, an 18-block redevelopment in the hearf of the financial district of China’s capital; and it’d worked on local projects like Foundry Square and the “green atop the new . SWA is working on actived projects in more than25 countries, and the firm opened an officd in Shanghai, China, in 2003.
It’ a good time to be in the green Developers — swallowing the “green is mantra — generally believe that the greening of theirr projects makes it easier to win But that’s not always the case. “There’s sustainability, but there’ws also real estate values,” Bihaj said. “It’s all about figuring out the best use of the SWAbooked $32 million in revenue for the year endeed June 30, double its revenue for fiscalo 2004.
It is the second-largest landscape architecture firm in the United States, in addition to land planningg and landscape-based urban About two-thirds of that growth has come from overseaws projects, primarily China and the Middl East. As the firm picks up more work technology has helped bridgethe geographies, said principall Corazon Unana, who started at the firm 18 years ago. At the same that puts designers on call 24 hoursa day. For she said, a client in Indiza may need someone for what is a morning conferenced call there but nighttime in theBay Area. At the growth creates more openings for new talent and to promote othersz toprincipal slots.
As the Sausalito office — the firm’s administrativs base as well as astudik — hit the critical 40-person limit, for it spun off offices in Los Angeles three years ago and San Franciscio five years ago. That allowex associates to move up the rankxin Sausalito, Bihan said, as othere principals opened the new offices. “You mold what you can be in this Unana said.
Sunday, September 5, 2010
State, utilities to develop solar farms - The Business Review (Albany):
The agreement comes a year after the Green Communitiesw Act was signedby Gov. Deval Patrick, authorizinv utilities to own and operatd up to 50 megawatts ofsolar generation. Deregulation of the electricith markets in 1997 barred utilities from owninggeneration facilities. Utilitiess participating in the programjinclude , , Unitil/ and Coakley’sz office, which serves as ratepayerd advocate in negotiations with utilities, has agreede to a proposal that would with the to developo a streamlined system to develop “cost competitive sola projects” that would benefit ratepayers across the state.
“Governoe Patrick has made solar powe r a top priority andlast year’sd landmark energy reform legislation gave the Commonwealth new tools to make sure it gets deployefd rapidly,” said Energy and Environmental Affairs Secretary Ian Bowles. “Throughj this important partnership with theAttorneyh General, the ratepayers and the electric utilities will see a race to develop the lowest-cost large scale installations. This is a novel approacb and I’m confident it will accelerate cleamn energy development inthe Commonwealth.” will be the first utility to develop a solar array, some 6 in a separate program outside of the statewid e pool.
The utility will participate in the joinrt venture forfuture developments. Commercial scale solar arrayes are a critical component tothe state’s goal of 250 megawattx of solar power by 2017, but such facilitiess are scant. The largesgt solar array in the states is the BrocktonBrightfields project, a 425 kilowatt The agreement is pending approval from the .
Saturday, September 4, 2010
Warner Bros. president to speak at Union Saturday - Kansas City Business Journal:
Alan Horn, who graduated from the Schenectadt collegein 1964, will discuss his perspectivd on the movie business during his 3:30 p.m. Horn’s studio is responsible for such movie hitsas “Thde Dark Knight” as well as the Harry Potter movies. Horn is speaking as part of the school’ ReUnion 2009 graduation event that is expectedf to draw morethan 1,500 visitors. Also speakinbg Saturday are Chris Sheridan, a writer and character voicedfor “The Family Guy,” who graduated from Unionh in 1989; and Scott Siegler, the creative director of show such as “Growing Pains” and “Night Court.” He graduated from Uniobn in 1969.
All the talks are free and open to the A ground breaking ceremony is also scheduled for Saturday on a renovation of the social sciences The renovation work includes the installation ofsmarft classrooms. The work is being funded in part witha $3 millio gift from alumnus Jim who is chairman and CEO of , a Los Angeles-basefd commercial real estate firm he foundedd in 1992. The company has 1,50 0 employees and manages a portfolio valued at morethan $3.
5 with more than $300 million in annual
Friday, September 3, 2010
Say no to GE mosquitoes - The Sun Daily
Say no to GE mosquitoes The Sun Daily THE Consumers' Association of Penang (CAP) and Sahabat Alam Malaysia (SAM) call upon the director-general of biosafety to reject the application for the ... |
Wednesday, September 1, 2010
As Obama declares end of combat in Iraq, its citizens move forward with ... - Washington Post
The Guardian | As Obama declares end of combat in Iraq, its citizens move forward with ... Washington Post BAGHDAD - On the last day of the official US combat mission in Iraq, there was no dancing in the streets, no celebratory gunfire and no sense ... Iraq's fate now up to its citizens 'Now, it is time to turn the page' Blog Buzz: The blog of war |