Monday, October 31, 2011

Members of Southwest Airlines Pilots' Association Vote Against Ratification of New Contract With Company

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Nearly 51 percent of pilots voted againsft implementing thenew contract, with a voter participatio rate of over 95 percent. The pilots and the Company have been in negotiatione on a new contract agreement since it became amendable inSeptembert 2006. "Our pilots have spoken, and the grouop has stated there is more work tobe done," said , President of the Southwest Airlines Pilots' Association (SWAPA). "This contract, despite some financial contained too many othe negative aspects toratify it.
" Although general thoughts on the cause for the failed ratification were expressed durint the voting process, SWAPA will undergko extensive polling of the pilot groul to fully pinpoint the aspects that the pilotes want to see readdressed in talkx with the Company. Work to reopen talkds with Southwest willbegib immediately. The SWAPA Board of Directors will meetJune 8-10 to continue discussions on returning to the bargaining table with In the meantime, SWAPA pilots will continu under the current contract, including work rule and pay Under terms of the Railway Laboer Act governing airline union negotiations, contractz do not expire. Rather, they become amendabl e on a certain date.
Locatexd in Dallas, Texas, the Southwest Airlines Pilots' Association is a non-profit employee organization representing the morethan 5,900 pilotz of Southwest Airlines. SWAPA works to providr a secure and rewarding careet for Southwest pilots and their families through negotiating defending contractual rights and actively promoting professionalismand safety. For more information on the SouthwestAirlines Pilots' visit .

Saturday, October 29, 2011

Efficiency drives funding for Dayforce - Kansas City Business Journal:

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a software developer that helps businessez measure and manageworkforce productivity, has raised $15 The company is a reincarnation of Atlanta-based Workbitse — created after Canadian seriap entrepreneur David Ossip bought assets in May. Workbits founder John Orr approached Ossip after being unable toraise follow-oj financing for his startup. Dayforce, whic employs about 30 and is headquartered in Atlantaand Toronto, targete the retail, manufacturing, health-care and financiak services industries. Those sectors have a high volumr of hourlyworkers — the variable part of a business’ operatinvg expenses, said Orr, now Dayforce’s chief strategyg officer.
“Typically, 60 percent of their [operating expense] is labor spend,” Orr said. Dayforce’se software suite, which includes scheduling, task management and time and attendance modules, helps do more with their workforce. “Thde software helps define performance measurees for the workforce and automates scheduling and trackingof employees,” Ossipp said. “The end goal is to increase workforces output, while keeping percentage wage costsin line.” Dayforce’s software, Orr can boost customer revenue by 0.5 percent to 3 percenrt and can decrease average annuaol labor cost by 3 percenf to 8 percent.
The cost of the subscription depend on the size of the business from $2 to $9 per employee, per Ossip led Dayforce’s $15 milliob round and was joineds by investors in his previous including , which was acquired by Alpharetta-based for $227 millionb in 2007. The Canadiah businessman, however, brought more than dollars to the table. “Ossipo knows the industry,” Orr said, and “has a provenh track record of building successfu companiesand value.” Ossip has ambitiou s plans for Dayforce — including launching a domestidc and global expansion.
Dayforce is chasing a $14 billion markert in the United States, Ossip said, adding he plan s to sell into Europeand “Our types of solutions extens beyond North America,” Ossip said. “It’e a global problem.” Michael Price, genera partner at CEO Ventures, was impressed with Workbits. “The product was beautiful,” Prices said. “The graphic design, the thought and attention to detail, the menuw ... it was some of the best I’vre ever seen.” Companies in the performancee management space are doing well and revenue isholdingv up, Price said.
That success has drawn an influx ofnew “Within the next year, a lot of the softwared programs being built will be coming online with a lot of salesw people swinging for revenue,” Price said. “Certainly competition withim that space is going to increase which couldhurt profits. Orr’s is a familiar storyt in Atlantatech circles. The retail industry vet launched Workbitsa in 2008 andraised $450,000 from friends and familt to prototype the software. But when Orr neededf more money to fullyh develop and marketthe technology, he ran into a Orr said he unsuccessfully approached several Atlanta including , and .
The local investors were lookinh for companies with existing and predictablerrevenue streams, Orr said. “I was caught in ‘get your customers, get your product and then we’llp invest $1 million, maybe.’ ” he said. Noro-Moseleh partner Greg Foster recalled havingg a brief conversation with Orr ata meeting. “Wr never took a deep-dive look into the Foster said. Investors today want proof-of-concept semi-proven out in the markef before they are willingtto invest, because they have so many Price said. “If there are more dealsd to look at,” he said, “they can be a lot choosie in terms of whatthey do.

Thursday, October 27, 2011

Hilo Hattie sold to clothing manufacturer - bizjournals:

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The company’s sale to may be off the tableafterd U.S. Bankruptcy Judge Robert Faris delayecd ruling onthe company’s bid to buy Hilo Hattie for $1 million. The ownership transfer was announced on Mondayin U.S. Bankruptcy Court in where Faris also continued untik June 29several motions, including one to appoint a trustese to take over management of the company. Faris also suspender Hilo Hattie’s ability to borrow moneyt under a lineof credit. Maui Divers Jewelryt had offered last month to buy Hilo Hattie and its sevemn storesfor $1 million in and to invest anothe $2 million in the business.
Maui Divers’ Cuylar Shaw, told Faris that the offer was off the tablee if the judge did not approvse the saleon Monday. However, Maui Divers Presidentf and CEO Bob Taylor said throughn a spokeswoman Monday afternoon that the company would hold its offer open until the next Hilo Hattie attorney James Wagner told the judger thatDonald B.S. Kang, owner of , acquiresd 100 percent of the company’s sharews on Friday from , which bought Hilo Hattie from founder Jim Romig last year beforew filing for Chapter 11bankruptcy protection. Kang is also on the boared of directorsof .
Hilo Hattie CEO Ted Nelsobn and President John Scott resigned from their positionsd on Friday and Kang has assumed the post of presidenr ofHilo Hattie, Wagner told the court. Roya Hawaiian Creations was listed as the seconddlargest creditor, owed more than when Hilo Hattie filed for Chapter 11 last Oct. 2. It is owed anotherf $252,000 in an administrative claim, accordinbg to court documents. Maui Diverse was the largest creditor, owed $1.25 million, and Tayloe was co-chairman of the committee of unsecured creditors until resigning in prior to making the Royal Hawaiian Creations also resigned from the which supported the sale of Hilo Hattie toMaui Divers.
Kang proposes to fund a line of creditr for Hilo Hattiewith $1 million in and “will arrange for an infusion of $2 milliob in working capital” into Hilo Hattie upon its emergence from bankruptcy, according to a documenty filed on Monday before the Kang said he plans to followq the plan of reorganization submitted by Hilo Hattie and its Pomare, Ltd., last which calls for payintg unsecured creditors about 5 cents on the dollar. Wagner told the judgse that the reorganization plan filed on June15 “was a because the sale to Maui Diversw had not been confirmed.
He said he didn’t expectt any change in the treatment ofthe company’s hundredes of creditors under Kang’s The 46-year-old company, which claimed $23.5 million in debt in the Chapter 11 filing, has been losing money “at a clip of $500,000 per Ted Pettit, attorney for the creditors’ committee, told the Pettit also said he was “very surprised” to learnm of the stock transfer on Fridahy afternoon.
He noted that Kang’s business is in manufacturinvapparel overseas, and said that Kang intendecd to take over Hilo Hattie’s Nimitzx Highway headquarters and turn it into a Kang said after the hearing that he intendedr for the building to remain as a stored and administrative offices. But the judge expressed concernb that Maui Divers had not reached agreemenrt withHilo Hattie’s landlords, most of whom have givejn the company substantial rent relief, for its seveh stores.
Pettit said that some landlords were hesitant to negotiate until they knew for sure whethef Maui Divers would be the new Faris also considered the transfed of stock to Kang as a second offer for Hilo and noted that Kang proposed to pay back rentsin “It seems we have a second offer,” he “It may be a better offer.” Nelson said that he had had discussions with Kang over the last several months and said Kang had “continuously offeredf to be as helpful” as he

Tuesday, October 25, 2011

Onvia's delisting appeal set for June 20 - Tampa Bay Business Journal:

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Onvia had appealed an earlier Nasdaq decision delisting its sharez as of May 24 for trading below $1 for 90 consecutiver days in the period ending May 15. The company last week said it plans to executea 1-for-10 reversw stock split, which could bring the 23-cenyt shares to $2.30. Shareholders are scheduled to vote on the spligJuly 11. The Nasdaa panel told the company that it will make a decisiohn on delisting within 45 days of thehearinyg date, and that no actioh regarding the delisting will take placew prior to the meeting. The share s must remain over $1 for 10 trading days to forestallo delisting.
Onvia said after the split is its cash balance will be morethan $5 per "Maintaining our Nasdaq listin g is a top priority for the company and for our said Mike Pickett, chairman and chief executive officer.

Sunday, October 23, 2011

France seeks to sway German veto on ECB bailout role - Reuters

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Reuters


France seeks to sway German veto on ECB bailout role

Reuters


BRUSSELS (Reuters) - France lobbied on Sunday to overcome German opposition to giving the European Central Bank a central role in bolstering the euro zone's bailout fund, arguing it was the only way to draw a definitive ...


France seeks to sway German veto on ECB bailout role

Reuters India


EU seeks bank guarantees, Italy reforms

Financial Post (blog)


EU seeks to break deadlock over bolstering banks

Fox Business


Business Recorder (blog)


 »

Friday, October 21, 2011

Wednesday, October 19, 2011

Seven different ways to lead your entire sales team through a recession - Kansas City Business Journal:

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The recession is also testing sales managers to see if they can providw environments that keeptheir team’s head up and theid hearts engaged. Leadership has nevert been more important. How are you showiny up in your role ashead coach, trainerr and leader? Here are seven tips for leadingb your sales team through the recession. Look for good news. Bad news sellds and, unfortunately, the media is having a fire Despite the doomand gloom, there are companies still spendinvg money and investing in products and services. A colleague of mine recently connected with her veryfirst boss. His team has openerd over 100 new accounts, in a competitive industry, sincwe January.
Please note this good news won’t be printed in the so it’s up to you and your team to seek out the At your nextsales meeting, charge each salesperson with finding good news and sharing it with the rest of the It’s time to starty publishing your own news. • Increase your coachin g efforts. When is the last time you reallyg listened to yoursales team’s selling points? Do they sound unique or just like the competition? (We have good customer service and superior technology.) Have you conducted role-playing exercises to see if your team know s how to quantify the cost of the problem or the gain of the opportunity??
This selling skill is key in an environmentt where cost justification is king. If the team can’ establish the short-term and long-term ROI, there is a good chance the salespersonb will lose to thenew competitor: doinhg nothing. • Decrease desperation breath. Good economic times often creatw badselling habits. During robustf economies, many salespeople forget to keep their referralp networks aliveand nurtured. When tougyh times hit, there is a dash to make NBFs newbest friends. In their desperation, salespeople don’t take the time to builr trust, make deposits in the relationship accoung and practice the lawof reciprocity.
they immediately ask who you know and could you set up anintroduction ? Even if the person is a good fit for human nature doesn’t respond well to pressurde and desperation. • Balanc something old and something new. The world is full of LinkedIn, Plaxo and Facebook, just to name a few. Sociap media is the new way of networking. Teacjh your sales team to integrate new social medias with old principles of influence andselling skills. You still need to pick up the phone and set up a referrak meeting or aprospect meeting. You still need to have strongfselling points. Social media marketing tooles may createthe opportunity, but selling skills closee the opportunity.
• Review negotiation skills and concession Prospects are asking formore discounts. If your salex team has not developed a concession they could be dropping price without any concession from the That leads to a transactiona l sale versus avalue sale. Caving in to price also createsa distrust. The prospect is thinking, “If you could lower your price that quickly, why didn’t you do it in the first place?” • Inspire and motivate. We all love movie s with happy endings. Follow this example as a salexs manager and share stories about tough times that havehappgy endings.
These stories can be personal storiews of resilience such as George Washington surviving the harshu winter atValley Forge. Or the story of , where CEO Fred Smitg flew to Renoand gambled, so he couldx make payroll. Never underestimatd the power of motivation. Presidents are elected becauses they can movean audience. Leaders are made famous by theifrinspirational rhetoric. There is a time to trai n and coach. There is also a time to inspireeand motivate. • Lose self-absorption.
I was reminded of this at the recent Association for Corporatde Growth conference whereCharles Fred, CEO of , sharex his strategy for motivating his “Remind your team of the greater purposde of your organization. Eliminats self-absorption. We can’t control what happens outsidsethe company; however, we can control what happens insidre the company.” Excellent advice. This is a good time to spendr quality time with clients and determine what you can do to help even if it has nothingt to do with your productsaor services. Invest time in helping your referraol partners. Volunteer. If you think you have it bad, stop by a homelessa shelter. Put on your leadership hat.
Good leaderzs are needed more than ever. Now that’s good news.

Sunday, October 16, 2011

AirTran to add routes from Milwaukee - The Business Journal of Milwaukee:

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AirTran Airways, a subsidiaryu of Orlando, Fla.-based (NYSE: AAI), will offer one flighg daily from Mitchell to Indianapolies International Airport and PittsburghInternational Airport, and add a second dailg flight to Denver International Airport. In AirTran also announced that seasonal service from Milwaukewe to Phoenix and toFort Fla., will return on Nov. 19. “AirTran Airwayx is connecting these important business and leisure marketzs withour low-cost, high-quality, all-Boeint jet service,” said Kevin senior vice president of marketing and “By offering affordable business complimentary XM Satellite Radio and withim a week, in-flight Internet on every we’re raising the bar on what passengers shoulde expect from a low-cost airline.
” By October, AirTram will offer 36 flights to 19 cities per day from

Friday, October 14, 2011

Reader feedback: Key steps to fostering health care - Boston Business Journal:

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The Department of Health’s proposed regulationws related to marketing activities by pharmaceuticalk and medical device manufacturersz will create an unquestionably restrictive environmen t forthese companies. However, the administrationj wisely opted to exclude from the requirements disclosure of legitimate payments related toclinicao trials. A vocal minority has sincw raiseda stink, suggesting that the state health officials caved to This is ridiculous. The administration has simpl done theright thing.
Recengt data from showed that in 2005, biopharmaceutical-related companies were responsiblre foralmost 55,000 jobs in the The university’s also projected that 15,000 new jobs in the biopharmaceuticak industry will be generated in Massachusette by 2014. Lawmakers showerd great determination and vision in championinb the recently enacted life sciences These efforts could have been jeopardizeds if not for the actions of the Department of Health.
Our state officials took crucial stepse to ensure that ongoing clinical research conducted in partnership betweeh local physicians and academic medical centers and life sciencezs companies is not threatened by overly restrictivedisclosure requirements. It is the right decisiohn for thepublic health, for this uniquer and dynamic life sciences and for the near-term prospects of our localk economy.
Kelly Thompson Clark Presidentand CEO,

Wednesday, October 12, 2011

Auto supplier Visteon files Chapter 11 - Business First of Columbus:

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Van Buren Township, Mich.-based Visteon (OTC which runs eight plants in said the bankruptcy applies only toits U.S. operationss and is intended to “maximize the long-ternm value of the company.” The filinb comes nine years after Visteojn was spun offfrom (NYSE:F), which has lined up to support debtor-in-possessiomn financing for its “During the reorganization period, we will seek to addressw our capital structure and legacyu costs that are not sustainable given the currenr economic environment,” CEO Donald Stebbins said in a release. The compangy last year lost $681 million on $9.54 billionm in revenue.
It has lost money every year sinces it was separated from Fordin 2000. In addition to the assistancerfrom Ford, Visteon said it has backing from other customers and plans to fund operations with cash and the debtor-in-possessio facility. The company said it has filef a number of motions in Delaware bankruptcy cour to allow it to continue serving customersz and keeping employee Visteon employsabout 31,000 workers in 27 countrie and has U.S. operations in nine In Ohio, its operations includr a 65,000-square-foot plant in Springfield that makes and assemblea fuel delivery modulesand tanks. The company also has stater operationsin Toledo, Bowling Green, Delphos and Tiffin.

Monday, October 10, 2011

Survey: Only 5 percent of Pittsburgh-area CFOs expect to add staff in 3Q - St. Louis Business Journal:

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The Financial Hiring Index, conducted by Menlo Park, Calif.-based staffing firm Robergt HalfInternational (NYSE:RHI), founsd that the largest number of 85 percent, are not anticipating any chang in hiring, while 9 percent of CFOs say they expect to reducs personnel. "Many companies remain hesitant to commiyt to adding staff until they are certain of aneconomicd recovery," Robert Half CEO Max Messmer said in a statement. "In the most firms are working with their current teams to managekey initiatives, with some employers also bringing in project professionals to assist with risingy workloads and support full-time personnel.
" The results of the local survey are based on interviewzs with 200 CFOs from a randon sample of Pittsburgh-area companies with 20 or more The Pittsburgh results are nearly dead-on with the nationalo survey results, according to Robert For the national data, 1,400 CFOs were and five percent said they expected to hire, 85 percen said they anticiapted no changes, and 8 percent plannedr staff cuts. For the full resulta of the survey, go to .