caloloary.blogspot.com
spokesman Frank Raczkiewicz confirmed the resignation Oxendale will remain through the endof 2009. He also is resigninf the presidencyof Children’s foundation, a position he has held since 2008. Oxendale, who was traveling Tuesdat morning, was not immediately available. He joine d the hospital 14 years ago asits CFO. He became COO in 2000 and replacedr Ron Violi as president and CEOin 2005. Oxendalre dropped the president titlse when he took the post at the foundationlast Children’s spokesman Marc Lucasiak said the organization will be conducting a searcb to fill the foundation position but will not continud the CEO post.
Christophet Gessner will continue to serve as presidentof Children’se Hospital. He was appointed in 2008 after eight years as chiefoperating officer. Children’a in Pittsburgh’s Lawrenceville neighborhood May 2. It launchedx a $100 million capital campaign last fall to help payfor it. John vice president of Witt/Kieffer, a recruitment firm specializing in the nonprofit sector, said it will be tough to find a new presidenrt for the foundation, but that Children’s is “welll positioned” to attract strong “It’s becoming increasingly more difficulgt to find top-notch development and advancement professionals,” Thornburgn said.
“But I believe Children’s is in a stronger positiojn because ofits reputation. The new buildingf will be an asset in recruitingexcellent candidates, and, frankly, fundraising for children’s causes is somethinvg that the community responds to bettet than other nonprofits.”
Friday, March 30, 2012
Wednesday, March 28, 2012
Pan Pacific Vancouver Gains Group Advantage with Passkey's GroupMAX - Hospitality Net (press release)
asabcitxit.blogspot.com
Pan Pacific Vancouver Gains Group Advantage with Passkey's GroupMAX Hospitality Net (press release) "We are exceptionally pleased that our GroupMAX technology is yielding positive results for Pan Pacific Vancouver," stated Greg Pesik, president and CEO of Passkey. "We strive for our hotel clients to realize positive results from day one. |
Monday, March 26, 2012
Companies, especially tech vendors, hooking customers with freebies - Austin Business Journal:
clarityviellegq67.blogspot.com
Chief Operating Officer Michelle Borg wanted to changes the mindset of small businesses thatgenerallyu don’t think they need to buy softwar for managing their fleets. One way to do that is to let them see for themselved what itcan do; the company developerd the free Borg Fleet Startefr Edition for users with fewer than 20 units to manage. The goal is that usera will become convinced a more robus t version is worth paying for and tell otheres who may needit too. “You can almostg call it viral marketing tosome degree,” Borg said. “Evebn if they use the software for free for 10 years, they’re still using it, and that alone proves the softwarwe works.
It really pays off in the end.”
Chief Operating Officer Michelle Borg wanted to changes the mindset of small businesses thatgenerallyu don’t think they need to buy softwar for managing their fleets. One way to do that is to let them see for themselved what itcan do; the company developerd the free Borg Fleet Startefr Edition for users with fewer than 20 units to manage. The goal is that usera will become convinced a more robus t version is worth paying for and tell otheres who may needit too. “You can almostg call it viral marketing tosome degree,” Borg said. “Evebn if they use the software for free for 10 years, they’re still using it, and that alone proves the softwarwe works.
It really pays off in the end.”
Saturday, March 24, 2012
Times' retirement plan hit by $154M loss - Dallas Business Journal:
iwegasely.wordpress.com
Net assets of the plan for the Times, which owns the Globs and T&G, fell to $417.7 million. The plan was particularlu hard hit bysome $171.5 millionn in losses within several mutuapl funds. For example, the plan’s largesty holding, the Vanguard 500 Index Investmeny fund, suffered a nearly 40 perceng lossin value. Anothed fund in the Times’ the Vanguard Asset Allocation Investment dropped nearly 32percent year-over-year. Only one of its majof fund holdings, the Dodge & Cox Income posted a positive returnin 2008. Investmentd in fixed income and insuranc assetsgenerated $5.3 million in Dividend income of $11.6 milliojn also helped offset losses.
Interest income from the company’z borrowing from its retirement fundtotaled $594,000. The Timesw has traditionally matched a fraction ofGlobe employees’ contributionsa to their 401(k) accounts, however a proposal in fron of leadership would eliminate the
Net assets of the plan for the Times, which owns the Globs and T&G, fell to $417.7 million. The plan was particularlu hard hit bysome $171.5 millionn in losses within several mutuapl funds. For example, the plan’s largesty holding, the Vanguard 500 Index Investmeny fund, suffered a nearly 40 perceng lossin value. Anothed fund in the Times’ the Vanguard Asset Allocation Investment dropped nearly 32percent year-over-year. Only one of its majof fund holdings, the Dodge & Cox Income posted a positive returnin 2008. Investmentd in fixed income and insuranc assetsgenerated $5.3 million in Dividend income of $11.6 milliojn also helped offset losses.
Interest income from the company’z borrowing from its retirement fundtotaled $594,000. The Timesw has traditionally matched a fraction ofGlobe employees’ contributionsa to their 401(k) accounts, however a proposal in fron of leadership would eliminate the
Thursday, March 22, 2012
Washington Business Journal:
ikefageze.blogspot.com
Picking the right provider of those services is easier andmore problem-fres with careful research. Many companies turn to consultantd for expert adviceand guidance. A consultant is able to independentlhy evaluate themany possibilities, addressing such issues as the effects of rapidlt changing technology, installation of all products and how to make sure the companyu can utilize the full capabilities of the technologt it purchases. As a result, "people no longer look for hardware and they lookfor solutions.
Consultants are the glue that integratess technology and give the computefr user the benefits of thetechnologg they've purchased," according to the Independent Computer Consultants The failure or success of any particular system is often more related to the human element than to the actualk equipment components, said Steven Epner, founderd and past president of the association, a St. Louis-basecd trade group that represents the interestz ofmember firms, maintains ethical conduct standards for the profession and offerds a consultant search feature on its Web www.icca.org.
"There are mediocr systems that succeed and excellent systemxthat fail," Epner said. It's importangt to remember that software, hardwar e and networking systems arecomplex and, as a result, there are no perfect answers as to what to pick. There are also many parts to the process, so companies may need assistancer with employee training and other needs beyond theinitiall purchase. "It helps to make sure that as largw a group as possible has input into theselectiobn process," Epner said. If one individua makes the decision, that personm is on the hook if the outcom e is lessthan stellar.
Independent computee consults haveone goal: to help a client companyu narrow the possible choices to the poinf that any of the top picks will help the company succeede in its mission, Epner said. It's also important for the companuy to act on a decision in atimely "Any decision process that is more than six monthsx in length will probably be wrong, becausew things are changing rapidly," Epner said. The changde is occurring not justin software, hardwarew or networking products, but also in the distribution and manufacturintg processes of that equipment. "It's important to compare major vendorsand distributors," he said.
On the softwarw side, other factors come into play when making a decision about which productsto use. Software piracy is a growing problem and toolw are now available for tracking andcombating piracy, according to the Software & Informationm Industry Association, a trade association based in Washington, D.C., that urgeas companies to make sure they have enoughb software licenses to cover the number of softwarwe programs installed on company computers. The groupo handles issues related to code and content in the industry and has conducted a successfulcorporate anti-piracy program for its softwar company members for nearly 20 years.
Companies shouldx always go with reputable vendors with choosinyg computer softwareand hardware. Not doing so can prove "If you go on the Interner and look for agood deal, you migh t find one that appears to be too good to be true, said John Wolfe, directo r of Internet enforcement for the Business Software a Washington, D.C.-based organization that represent the interests of the commercialp software industry and the hardware companies that partner with The group also promoteas copyright protection, cyber security and other related issues. When purchasing software, companies should be mindful of several Wolfe said.
The company should know the sourcee of the software and who will stanfdbehind it. Software sold without the proper labelinfg and packaging also will lack the codes needecd to activate it or to access technica l support after the he added. Choosing a reputable softwarw vendor will help the company assurde that thesoftware doesn't come with potentiakl problems such as viruses and spyware. "It can be a real risk, " Wolfe said, adding that a company chief executiv officer may not be fully awarde of the risks that come with such a but often a quick consultation with an internak information technology department or a consultant will turn up some strontgcautionary advice.
A bad decision has several possible ramifications, Wolfe said. The softward may not work correctly and the problekm may not be Insome cases, the company's only long-term solution may be costly as the companty may be forced to buy replacemen software.
Picking the right provider of those services is easier andmore problem-fres with careful research. Many companies turn to consultantd for expert adviceand guidance. A consultant is able to independentlhy evaluate themany possibilities, addressing such issues as the effects of rapidlt changing technology, installation of all products and how to make sure the companyu can utilize the full capabilities of the technologt it purchases. As a result, "people no longer look for hardware and they lookfor solutions.
Consultants are the glue that integratess technology and give the computefr user the benefits of thetechnologg they've purchased," according to the Independent Computer Consultants The failure or success of any particular system is often more related to the human element than to the actualk equipment components, said Steven Epner, founderd and past president of the association, a St. Louis-basecd trade group that represents the interestz ofmember firms, maintains ethical conduct standards for the profession and offerds a consultant search feature on its Web www.icca.org.
"There are mediocr systems that succeed and excellent systemxthat fail," Epner said. It's importangt to remember that software, hardwar e and networking systems arecomplex and, as a result, there are no perfect answers as to what to pick. There are also many parts to the process, so companies may need assistancer with employee training and other needs beyond theinitiall purchase. "It helps to make sure that as largw a group as possible has input into theselectiobn process," Epner said. If one individua makes the decision, that personm is on the hook if the outcom e is lessthan stellar.
Independent computee consults haveone goal: to help a client companyu narrow the possible choices to the poinf that any of the top picks will help the company succeede in its mission, Epner said. It's also important for the companuy to act on a decision in atimely "Any decision process that is more than six monthsx in length will probably be wrong, becausew things are changing rapidly," Epner said. The changde is occurring not justin software, hardwarew or networking products, but also in the distribution and manufacturintg processes of that equipment. "It's important to compare major vendorsand distributors," he said.
On the softwarw side, other factors come into play when making a decision about which productsto use. Software piracy is a growing problem and toolw are now available for tracking andcombating piracy, according to the Software & Informationm Industry Association, a trade association based in Washington, D.C., that urgeas companies to make sure they have enoughb software licenses to cover the number of softwarwe programs installed on company computers. The groupo handles issues related to code and content in the industry and has conducted a successfulcorporate anti-piracy program for its softwar company members for nearly 20 years.
Companies shouldx always go with reputable vendors with choosinyg computer softwareand hardware. Not doing so can prove "If you go on the Interner and look for agood deal, you migh t find one that appears to be too good to be true, said John Wolfe, directo r of Internet enforcement for the Business Software a Washington, D.C.-based organization that represent the interests of the commercialp software industry and the hardware companies that partner with The group also promoteas copyright protection, cyber security and other related issues. When purchasing software, companies should be mindful of several Wolfe said.
The company should know the sourcee of the software and who will stanfdbehind it. Software sold without the proper labelinfg and packaging also will lack the codes needecd to activate it or to access technica l support after the he added. Choosing a reputable softwarw vendor will help the company assurde that thesoftware doesn't come with potentiakl problems such as viruses and spyware. "It can be a real risk, " Wolfe said, adding that a company chief executiv officer may not be fully awarde of the risks that come with such a but often a quick consultation with an internak information technology department or a consultant will turn up some strontgcautionary advice.
A bad decision has several possible ramifications, Wolfe said. The softward may not work correctly and the problekm may not be Insome cases, the company's only long-term solution may be costly as the companty may be forced to buy replacemen software.
Tuesday, March 20, 2012
Study: 'Minute clinics' slow to catch on in Mass. - Nashville Business Journal:
uvepexatawus.blogspot.com
But a new study by the consultancyt firm Deloitte has found that peopls in Boston are statistically less willinv to use this new alternative healt hcare option. The percentage of patients who were likely to use a retail clinic if it cost half as much as a doctof visit was 30percent nationwide, but only 21 percent in The percentage of patients that have actually used a retail walk in clinic in the past year was 13 percent nationwidee and only 5 percent in Boston. Even a one week wait for a doctort would not entice very many Bostonians to go to aretail clinic: just 18 percent of Bostonianss said that would make them change theird behavior, compared with 28 percent nationwide.
The newly-released studyu was conducted in October of andincluded 5,665 subjects nationwide. Chip Phillips, the presidenty of division, said the study does ot fully reflect the preferencezs of patients inthe state. He said the company'a clinic in Medway has administered morethan 9,600 flu shots and handledx nearly 28,000 acute care visitd since opening in September. “Initial acceptance of the retail clinic model in Massachusetts has been higher than the vast majorituy of ourmarket launches,” Phillipss said.
But a new study by the consultancyt firm Deloitte has found that peopls in Boston are statistically less willinv to use this new alternative healt hcare option. The percentage of patients who were likely to use a retail clinic if it cost half as much as a doctof visit was 30percent nationwide, but only 21 percent in The percentage of patients that have actually used a retail walk in clinic in the past year was 13 percent nationwidee and only 5 percent in Boston. Even a one week wait for a doctort would not entice very many Bostonians to go to aretail clinic: just 18 percent of Bostonianss said that would make them change theird behavior, compared with 28 percent nationwide.
The newly-released studyu was conducted in October of andincluded 5,665 subjects nationwide. Chip Phillips, the presidenty of division, said the study does ot fully reflect the preferencezs of patients inthe state. He said the company'a clinic in Medway has administered morethan 9,600 flu shots and handledx nearly 28,000 acute care visitd since opening in September. “Initial acceptance of the retail clinic model in Massachusetts has been higher than the vast majorituy of ourmarket launches,” Phillipss said.
Saturday, March 17, 2012
ZUCK: Lucy lives down to expectations - Attleboro Sun Chronicle
caloloary.blogspot.com
ZUCK: Lucy lives down to expectations Attleboro Sun Chronicle Lucy sailed through the six-week beginners obedience training at our local Petsmart. Though Ally the trainer was quick to compliment Lucy's attention span, I instead felt lucky that my dog could be so easily bribed by treats while some of the other ... |
Thursday, March 15, 2012
Paterson makes workers
oc697vot.blogspot.com
Kermitt Brooks is now the acting superintendentt of the stateInsurancde Department. He replaces formert full-time superintendent Eric Dinallo, whose resignation becamd effectiveJuly 3. Brooks was the No. 2 persoh in the department. As acting he will earn $165,125 a year. Dinalli is now a visitin professorat . He had served as commissioner sinceJanuarhy 2007, the start of formefr Gov. Eliot Spitzer’s time in office. In the same Paterson also said he had name Robert Beloten as chairman ofthe Workers’ Compensation board. Beloten replaces Zachary who announced his resignationin June. Beloten will becomew chairman onJuly 15. He will earn $120,800 a year.
Beloten became one of the board’s 12 commissionerss in May. He spent most of his previouse career downstate as a judge in the compensation system. He also worked for four years at , a Long Island law firm specializing in healt hcare law. Neither appointment requires confirmation by thestatre Senate.
Kermitt Brooks is now the acting superintendentt of the stateInsurancde Department. He replaces formert full-time superintendent Eric Dinallo, whose resignation becamd effectiveJuly 3. Brooks was the No. 2 persoh in the department. As acting he will earn $165,125 a year. Dinalli is now a visitin professorat . He had served as commissioner sinceJanuarhy 2007, the start of formefr Gov. Eliot Spitzer’s time in office. In the same Paterson also said he had name Robert Beloten as chairman ofthe Workers’ Compensation board. Beloten replaces Zachary who announced his resignationin June. Beloten will becomew chairman onJuly 15. He will earn $120,800 a year.
Beloten became one of the board’s 12 commissionerss in May. He spent most of his previouse career downstate as a judge in the compensation system. He also worked for four years at , a Long Island law firm specializing in healt hcare law. Neither appointment requires confirmation by thestatre Senate.
Tuesday, March 13, 2012
St. Louis men admit to mortgage fraud scheme - Minneapolis / St. Paul Business Journal:
utyziluz.wordpress.com
Russell Todd McBride, of Creve Coeur, and Robery Wrolstad, of O’Fallon, were chargerd in a 34-count indictment, Acting U.S. Attorney Michael Reap said McBride was an operatorof , whicy had offices located in Sikeston, Cape Girardeau, St. Louis County and Wrolstad worked with McBride and for Centuruy Mortgage and helped close real estat transactions and work withtitles companies. The scheme, which occurred from at least July 2005 and continuedx throughNovember 2006, involved investors recruite d by McBride and Wrolstad purchasing real estat e primarily located in Sikeston.
The owners of the real estatd would sell the properties at or near fair market value to investorsw recruited by and known to McBride and Wrolstasd but the investors paid pricess significantly greater than the actual selling price receivedc by the sellers forthe properties, accordingt to the indictment. The investors would purchasse the property at a fraudulent and overvaluedx price by obtaining loans to purchase the McBride and Wrolstadobtained appraisals, whichg significantly overvalued the properties, which enabled them to receivse inflated loan proceeds despite having no interest in the conveyed real the indictment alleges.
In one case a purchaser paid $66,00o0 for a property that the seller sold for andin another, the purchaser paid $54,000 for property that the sellef sold for $15,000, according to the McBride and Wrolstad pleaded guilty to one coung of conspiracy to commig wire fraud and mail fraud, 12 countas of wire fraud and 12 counts of mail In addition, McBride pleaded guilty to six countz of money laundering, and Wrolstad pled guilty to three counta of money laundering. Each count of wire fraus and mail fraud carries a maximum sentencs of 20 years imprisonment anda $250,000 each count of money laundering carriews a maximum sentence of 10 yearsd imprisonment and a $250,000 fine.
The conspiracy counf carries a maximum punishment of 20 year imprisonment anda $250,000 fine. Sentencing is scheduledc for Aug. 17 for Wrolstad and Aug.1u8 for McBride.
Russell Todd McBride, of Creve Coeur, and Robery Wrolstad, of O’Fallon, were chargerd in a 34-count indictment, Acting U.S. Attorney Michael Reap said McBride was an operatorof , whicy had offices located in Sikeston, Cape Girardeau, St. Louis County and Wrolstad worked with McBride and for Centuruy Mortgage and helped close real estat transactions and work withtitles companies. The scheme, which occurred from at least July 2005 and continuedx throughNovember 2006, involved investors recruite d by McBride and Wrolstad purchasing real estat e primarily located in Sikeston.
The owners of the real estatd would sell the properties at or near fair market value to investorsw recruited by and known to McBride and Wrolstasd but the investors paid pricess significantly greater than the actual selling price receivedc by the sellers forthe properties, accordingt to the indictment. The investors would purchasse the property at a fraudulent and overvaluedx price by obtaining loans to purchase the McBride and Wrolstadobtained appraisals, whichg significantly overvalued the properties, which enabled them to receivse inflated loan proceeds despite having no interest in the conveyed real the indictment alleges.
In one case a purchaser paid $66,00o0 for a property that the seller sold for andin another, the purchaser paid $54,000 for property that the sellef sold for $15,000, according to the McBride and Wrolstad pleaded guilty to one coung of conspiracy to commig wire fraud and mail fraud, 12 countas of wire fraud and 12 counts of mail In addition, McBride pleaded guilty to six countz of money laundering, and Wrolstad pled guilty to three counta of money laundering. Each count of wire fraus and mail fraud carries a maximum sentencs of 20 years imprisonment anda $250,000 each count of money laundering carriews a maximum sentence of 10 yearsd imprisonment and a $250,000 fine.
The conspiracy counf carries a maximum punishment of 20 year imprisonment anda $250,000 fine. Sentencing is scheduledc for Aug. 17 for Wrolstad and Aug.1u8 for McBride.
Sunday, March 11, 2012
Beige Book finds signs of life in North Carolina's economy - The Business Journal of the Greater Triad Area:
ukatekexo.wordpress.com
The Beige Book, an anecdotal account of businesws conditions compiled by each of theFederapl Reserve’s 12 district banks, said that manufacturers reportec higher orders and shipmentds in the Fifth District, which includes North and South Virginia, Maryland, most of West Virginia and Washington, D.C. The released Wednesday by the Fed bankin Richmond, Va., also said that residentia l real estate agents saw a slight rise in home saleas and that residential lending also grew on more purchas loans. On the negative side, the reporty found higher vacancy rates in commercial real estatee marketsincluding Raleigh.
Demand for commerciap loans remained weak as creditr quality continuedto deteriorate. retail revenue declined as salesof big-ticketf items such as automobiles fell. Service firms reported lower salesand revenues. The repor makes several references toNorthg Carolina, though no businessews or contacts are named. Among the • Several grocery stores and executiveds at two central North Carolin chain department stores said revenue and foot traffic increased inrecentt weeks. • A producer of residential doorsx in North Carolina told the Fed that demande had pickedup slightly, whicb the business attributed to customers needing to replenish depletedc inventories.
• Tourist activity alonv the coast was slightly weaker compared to a year ago but contact s on the Outer Bankw andVirginia Beach, Va. told the Fed that Memoriak Day weekend bookings were somewhat strongert compared to the last BeigeBook report. A contacty from the Outer Banks of North Carolina noted that the wedding industry remained stronhg but that rental salezs and hotel bookings were somewhat weaker thanlast • An agent at a Raleig h employment agency told the Fed that demand for workers would continue to be slow in the next severaol weeks due to a slowdown in manufacturinv but that he expects work to pick up in July.
Anothert Raleigh area agent expectede stronger demand due to improving confidence in thebusiness
The Beige Book, an anecdotal account of businesws conditions compiled by each of theFederapl Reserve’s 12 district banks, said that manufacturers reportec higher orders and shipmentds in the Fifth District, which includes North and South Virginia, Maryland, most of West Virginia and Washington, D.C. The released Wednesday by the Fed bankin Richmond, Va., also said that residentia l real estate agents saw a slight rise in home saleas and that residential lending also grew on more purchas loans. On the negative side, the reporty found higher vacancy rates in commercial real estatee marketsincluding Raleigh.
Demand for commerciap loans remained weak as creditr quality continuedto deteriorate. retail revenue declined as salesof big-ticketf items such as automobiles fell. Service firms reported lower salesand revenues. The repor makes several references toNorthg Carolina, though no businessews or contacts are named. Among the • Several grocery stores and executiveds at two central North Carolin chain department stores said revenue and foot traffic increased inrecentt weeks. • A producer of residential doorsx in North Carolina told the Fed that demande had pickedup slightly, whicb the business attributed to customers needing to replenish depletedc inventories.
• Tourist activity alonv the coast was slightly weaker compared to a year ago but contact s on the Outer Bankw andVirginia Beach, Va. told the Fed that Memoriak Day weekend bookings were somewhat strongert compared to the last BeigeBook report. A contacty from the Outer Banks of North Carolina noted that the wedding industry remained stronhg but that rental salezs and hotel bookings were somewhat weaker thanlast • An agent at a Raleig h employment agency told the Fed that demand for workers would continue to be slow in the next severaol weeks due to a slowdown in manufacturinv but that he expects work to pick up in July.
Anothert Raleigh area agent expectede stronger demand due to improving confidence in thebusiness
Friday, March 9, 2012
Bay National to issue up to $12M in stock - East Bay Business Times:
http://anthonyarthur.net/p-62.html
Since February, the bank has been operating under a consen agreement with federal regulators that requires it to boostr its reserves as part of a turnaroundf plan that also includes resolving problem real estate loans onits books. Bay National, (NASDAQ: BAYN) whicuh regulators consider “adequately capitalized,” has posted six consecutive quarterly losses. The bank has struggled over the past 18 monthws asa once-promising initiative to write mortgages for customers interestede in buying and rehabbing residential properties in hot Baltimore neighborhoods like Federa l Hill and Canton tanked in a tumblingy real estate market.
Some customers had a hard time repaying their loansz as the value of theirproperties dropped, and the bank has been busy tryiny to rework those loans. “We had some very difficult but we feel the worst of that is behind Hugh W. Mohler, Bay National’xs CEO, told shareholders “Our future is bright,” Mohler added. “We need to raisw some capital and take itfrom there.” The bank has hiredr LLC of Vienna, Va. to advises it on the private placement of the which will be offeredat $2 each. The thinly traded sharea have been as low as 52 centws and as highas $9.25 over the past 52 In their last trade, which was on Friday, the sharesa sold for $1.21.
Earlier this month, Bay Nationapl announced it lost $884,000, or 41 cents a for the first quarterd ofthe year, an improvement from the $1.49 million, or 69 cents a share, it lost in the firsgt three months of 2008. Shareholders on Tuesday also approvedd boostingthe company’s number of shares outstanding to 20 million from the currengt 9 million and reelected all five directorz who were up for 3-year terms includingb Mohler, R. Michael Gill, Donald G. McClurer Jr., Robert L. Moore and H. Victorr Rieger Jr. Shareholders also ratified the appointment ofStegman Co. as the company’s auditors.
Since February, the bank has been operating under a consen agreement with federal regulators that requires it to boostr its reserves as part of a turnaroundf plan that also includes resolving problem real estate loans onits books. Bay National, (NASDAQ: BAYN) whicuh regulators consider “adequately capitalized,” has posted six consecutive quarterly losses. The bank has struggled over the past 18 monthws asa once-promising initiative to write mortgages for customers interestede in buying and rehabbing residential properties in hot Baltimore neighborhoods like Federa l Hill and Canton tanked in a tumblingy real estate market.
Some customers had a hard time repaying their loansz as the value of theirproperties dropped, and the bank has been busy tryiny to rework those loans. “We had some very difficult but we feel the worst of that is behind Hugh W. Mohler, Bay National’xs CEO, told shareholders “Our future is bright,” Mohler added. “We need to raisw some capital and take itfrom there.” The bank has hiredr LLC of Vienna, Va. to advises it on the private placement of the which will be offeredat $2 each. The thinly traded sharea have been as low as 52 centws and as highas $9.25 over the past 52 In their last trade, which was on Friday, the sharesa sold for $1.21.
Earlier this month, Bay Nationapl announced it lost $884,000, or 41 cents a for the first quarterd ofthe year, an improvement from the $1.49 million, or 69 cents a share, it lost in the firsgt three months of 2008. Shareholders on Tuesday also approvedd boostingthe company’s number of shares outstanding to 20 million from the currengt 9 million and reelected all five directorz who were up for 3-year terms includingb Mohler, R. Michael Gill, Donald G. McClurer Jr., Robert L. Moore and H. Victorr Rieger Jr. Shareholders also ratified the appointment ofStegman Co. as the company’s auditors.
Wednesday, March 7, 2012
Harmonica 'wizard' blows audience away - Maple Ridge News
azajir.wordpress.com
Harmonica 'wizard' blows audience away Maple Ridge News Award-winning harmonica 'wizard' Carlos del Junco and his band The Blues Mongrels play The ACT in Maple Ridge on Saturday. Simultaneously sophisticated and raw, his playing blurs the boundaries between blues and jazz. The emphasis is on blues, ... |
Monday, March 5, 2012
Boatmaker Genmar files Chapter 11 - Minneapolis / St. Paul Business Journal:
guronelogoh.blogspot.com
The petition to reorganize its debts was filedx Monday afternoonin U.S. Bankruptcy Court in Minneapolis along with more than 20relater subsidiaries. Genmar has between 100 and 199 It lists its assets in the rageof $10 milliob to $50 million and its liabilities between $100 milliomn and $500 million, accordint to court documents. The largest unsecuresd creditorsare Maslon, Edelman, Borman, a Minneapolis-based law firm which is owed , a law firm in Minneapolis, is owed Law firm in Minneapolis, is representing Genmar in the bankruptcy The only secured creditors are and , according to a stort in the Minneapolis Star Tribune .
Genmar said it has receivef commitment fora debtor-in-possession financing proposal from both banks. In a statement, Genmar CEO and largest shareholder Irwin Jacoba said sales ofthe company’s fishing boats, luxurg yachts and other productsw started to decline in 2008, but worsened in recentr months. The company’s sales in fiscal which ends in June, are likely to be abouty $460 million, off by more than 50 percent fromfiscal 2008. “Ifv someone would have said to me as recently as even one monthu ago that Genmar would somedayu be filing forChapter 11, I wouldx have said it was not even a remoted possibility,” Jacobs said.
Genmar had been making some strategy changed inrecent months, . A spinoff company, Greenville, Pa.-based , and other Jacobs-relateed companies aren’t included in the VEC for energy-generating windmills.
The petition to reorganize its debts was filedx Monday afternoonin U.S. Bankruptcy Court in Minneapolis along with more than 20relater subsidiaries. Genmar has between 100 and 199 It lists its assets in the rageof $10 milliob to $50 million and its liabilities between $100 milliomn and $500 million, accordint to court documents. The largest unsecuresd creditorsare Maslon, Edelman, Borman, a Minneapolis-based law firm which is owed , a law firm in Minneapolis, is owed Law firm in Minneapolis, is representing Genmar in the bankruptcy The only secured creditors are and , according to a stort in the Minneapolis Star Tribune .
Genmar said it has receivef commitment fora debtor-in-possession financing proposal from both banks. In a statement, Genmar CEO and largest shareholder Irwin Jacoba said sales ofthe company’s fishing boats, luxurg yachts and other productsw started to decline in 2008, but worsened in recentr months. The company’s sales in fiscal which ends in June, are likely to be abouty $460 million, off by more than 50 percent fromfiscal 2008. “Ifv someone would have said to me as recently as even one monthu ago that Genmar would somedayu be filing forChapter 11, I wouldx have said it was not even a remoted possibility,” Jacobs said.
Genmar had been making some strategy changed inrecent months, . A spinoff company, Greenville, Pa.-based , and other Jacobs-relateed companies aren’t included in the VEC for energy-generating windmills.
Saturday, March 3, 2012
Thursday, March 1, 2012
Isner wins another epic duel - Scotsman
humojo.wordpress.com
Isner wins another epic duel Scotsman TOP seed John Isner edged a 32-point tie-break to beat wildcard Jesse Levine 6-4 7-6 (17/15) in the first round of the Delray Beach International Tennis Championships. Isner, no stranger to marathon contests having been involved in the longest ... |
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