clarityviellegq67.blogspot.com
TOUSA plans to complete and sell all homed currentlyunder construction. Moody said the new company will beprivatelhy held, locally owned and financed. “Our managementf team has over 70 years’ combined he said. The new compant plans to build 60 homes rangint in pricefrom $160,000 to more than $600,000 in the firsgt 60 days of operation, which will officially begin June 15. Moody said 55 employees of TOUSA will remainj with the new company after TOUSAq winds down its localbusiness operations. TOUSA’z predecessor company was founded in Houston in 1983 as and completed an initiakl public offering inMarch 1998. In Decembed 1999, TOUSA Inc.
acquired 80 percent of Newmark’e stock. TOUSA Inc. also acquired 100 percenty of then-public in Novembert 2000. On June 25, 2002, Engled merged with Newmark, and the merged company changed its name toTOUSAA Inc. In March, Hollywood, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it plannefd to lay off 156 people in the Houston area from its Newmarkj Homes brand beginning May 22 due to the downturnb in thehousing market.
Thursday, December 29, 2011
Tuesday, December 27, 2011
N.C. lures Apple to build $1B data center - San Antonio Business Journal:
youngmanmeledero1636.blogspot.com
The facility will employ at leasgt 50people full-time. Perdue did not disclos a specific location forthe facility, but Charlotte Businesx Journal reported that Apple is that would put the servefr farm in in Catawba County, northwest of The Apple announcement came Wednesday morning after Perdue signed legislatiobn that modifies the method by which capital-intensive businesses calculatw corporate income tax liabilit y in the state. The new law could lower Apple'a tax bill by $46 million over the next decad e ifthe company's spends at leasyt $1 billion on its servetr farm.
As part of the legislation, a capital-intensiver industry must meet investment and wage standardse and provide its employees with healthn insurance in order to utilize the modifiedf formula for calculating the state corporateincomd tax, the governor’s office said. It also must locate in one of the state’se more economically distressed Tier 1 or Tier 2 The legislation requires that the averagew wage exceed the wage standardr of the county inwhich it’s A data center such as this will typically contract locallhy for services such as server maintenance and repair, building and HVAC maintenance, landscapingt and security – expenditures that the governor’s office says could range from $5 million to $6 millionn annually in the regiojn and create up to 250 jobs.
“North Carolina continues to be a prims location for growing and expanding globaltechnology companies,” Perdue said in a writtehn statement. “We welcome Apple to North Carolina and look forwarde to working with the company as it begins providing a significan t economic boost to local communities and the The North Carolina Department of Commerc projects that a data centerd investmentof $1 billion would create more than 3,000 jobs in the regionak economy, including hundreds of jobs related to constructiob and others created as a result of economix growth.
The facility will employ at leasgt 50people full-time. Perdue did not disclos a specific location forthe facility, but Charlotte Businesx Journal reported that Apple is that would put the servefr farm in in Catawba County, northwest of The Apple announcement came Wednesday morning after Perdue signed legislatiobn that modifies the method by which capital-intensive businesses calculatw corporate income tax liabilit y in the state. The new law could lower Apple'a tax bill by $46 million over the next decad e ifthe company's spends at leasyt $1 billion on its servetr farm.
As part of the legislation, a capital-intensiver industry must meet investment and wage standardse and provide its employees with healthn insurance in order to utilize the modifiedf formula for calculating the state corporateincomd tax, the governor’s office said. It also must locate in one of the state’se more economically distressed Tier 1 or Tier 2 The legislation requires that the averagew wage exceed the wage standardr of the county inwhich it’s A data center such as this will typically contract locallhy for services such as server maintenance and repair, building and HVAC maintenance, landscapingt and security – expenditures that the governor’s office says could range from $5 million to $6 millionn annually in the regiojn and create up to 250 jobs.
“North Carolina continues to be a prims location for growing and expanding globaltechnology companies,” Perdue said in a writtehn statement. “We welcome Apple to North Carolina and look forwarde to working with the company as it begins providing a significan t economic boost to local communities and the The North Carolina Department of Commerc projects that a data centerd investmentof $1 billion would create more than 3,000 jobs in the regionak economy, including hundreds of jobs related to constructiob and others created as a result of economix growth.
Sunday, December 25, 2011
Schneider Electric lands multimillion-dollar deal - Triangle Business Journal:
ethelbertdiya3334.blogspot.com
Specific financial terms of the deal werenot released, but Jeannd Schweder, an outsourced spokeswoman, said the contract coule be worth in excess of $50 million. The five-year agreement was awardex to Schneider Electric's Industrial Applications Team, whicyh will supply Square D brand resistance welding controls to all General MotorsNorth American-manufacturing facilities. Weldinyg control parts are used in the robots thatassembld automobiles. The welding control parts to be supplied unde this agreement include resistance weld power distribution panels and monitoredpowed systems. Schneider Electric employs almost 400 people in including 92 in its IndustrialApplicationx Team.
The Palatine, Ill.-based Northu American Operating Division of Schneider Electricd is one of four geographic divisionsof Paris-baseed Schneider Electric. The divisions, which had sales of $2.7 billiom in 2002, markets the Square D, Telemecanique and Merlinh Gerin brand products to customers in the United Canadaand Mexico.
Specific financial terms of the deal werenot released, but Jeannd Schweder, an outsourced spokeswoman, said the contract coule be worth in excess of $50 million. The five-year agreement was awardex to Schneider Electric's Industrial Applications Team, whicyh will supply Square D brand resistance welding controls to all General MotorsNorth American-manufacturing facilities. Weldinyg control parts are used in the robots thatassembld automobiles. The welding control parts to be supplied unde this agreement include resistance weld power distribution panels and monitoredpowed systems. Schneider Electric employs almost 400 people in including 92 in its IndustrialApplicationx Team.
The Palatine, Ill.-based Northu American Operating Division of Schneider Electricd is one of four geographic divisionsof Paris-baseed Schneider Electric. The divisions, which had sales of $2.7 billiom in 2002, markets the Square D, Telemecanique and Merlinh Gerin brand products to customers in the United Canadaand Mexico.
Friday, December 23, 2011
Wyoming Seminary teacher on leave for unspecified incident - Citizens Voice
ucenyt.wordpress.com
Wyoming Seminary teacher on leave for unspecified incident Citizens Voice A Wyoming Seminary teacher has been put on administrative leave while police investigate an unspecified incident that allegedly took place on campus. Music teacher Robert Lugiano has not been arrested and no charges have been filed. ... |
Wednesday, December 21, 2011
Valuable sculpture stolen from London park - Ninemsn
zyluzugizovota.blogspot.com
Telegraph.co.uk | Valuable sculpture stolen from London park Ninemsn Thieves have stolen a large bronze sculpture by one of Britain's most important modern sculptors from a London park. The sculpture by Barbara Hepworth, c » |
Monday, December 19, 2011
Federated sells Lord & Taylor for less than expected - Washington Business Journal:
a-ee85aqa.blogspot.com
Federated signed an agreement June 22 to sell theNew York-basecd division to NRDC of N.Y., for $1.195 billion in cash, but said Tuesday that the final sale price was adjusted to $1.083 billion, or about $840 million after tax. The lowered sale according toa release, is due primarilt to the fact that Federated agreesd to sublease certain properties to NRDC due to restrictions in the leases underlying thosd properties. The rental income on these propertiews is expected to beabout $8.6 million per year. Federated acquired Lord & Taylor when it closed its purchasedof St. Louis-based May Departmenr Store. Aug. 30, 2005.
Upscale fashionn retailer Lord & Taylor, foundex in 1826, has stores in Montgomery County andNorthern Virginia. The Lord Taylor division includes 48 storesin D.C., Maryland, New Jersey, New York, Illinois, Connecticut, Michigan and Pennsylvania, as well as a distributiojn center in Wilkes-Barre, Pa. Cincinnati-based Federateds Department Stores (NYSE: FD) operates nearly 950 department storews and more than 700 bridal and formalwear storess in49 states, the Distric, Guam and Puerti Rico.
Federated signed an agreement June 22 to sell theNew York-basecd division to NRDC of N.Y., for $1.195 billion in cash, but said Tuesday that the final sale price was adjusted to $1.083 billion, or about $840 million after tax. The lowered sale according toa release, is due primarilt to the fact that Federated agreesd to sublease certain properties to NRDC due to restrictions in the leases underlying thosd properties. The rental income on these propertiews is expected to beabout $8.6 million per year. Federated acquired Lord & Taylor when it closed its purchasedof St. Louis-based May Departmenr Store. Aug. 30, 2005.
Upscale fashionn retailer Lord & Taylor, foundex in 1826, has stores in Montgomery County andNorthern Virginia. The Lord Taylor division includes 48 storesin D.C., Maryland, New Jersey, New York, Illinois, Connecticut, Michigan and Pennsylvania, as well as a distributiojn center in Wilkes-Barre, Pa. Cincinnati-based Federateds Department Stores (NYSE: FD) operates nearly 950 department storews and more than 700 bridal and formalwear storess in49 states, the Distric, Guam and Puerti Rico.
Friday, December 16, 2011
Commercial developers play waiting game - Business First of Buffalo:
ejyceh.wordpress.com
Rumsey, a veteran commerciao real estate brokerwith , easil pinpoints the reason why he is less The answer? The recession. “The big buyerz are few and far between,” Rumsey said. “Right now, peopls are very reluctant to make any kind of Even in the bestof times, the Buffalo area is not pronee to large commercial deals, especially when it comes to One of the biggest took place almost one year ago when the the region’s third-largest law firm – agreed to move from Cathedrapl Place to the soon-to-opemn Avant building in downtown Buffalo.
Damonh & Morey is leasing more than 50,000-square-feet in the Avant, anchoring the Class A officr component ofthe 15-story building. Last fall, the federal Real Estate to take over twofloors – approximately 33,000-square-feet in downtown Buffalo’s Bank of Americs Building. Aside from those two there have been very few commercia l real estate or office transactions in the past Call it a sign ofthe “If a deal is viable, it will move ahead regardles of the economic conditions,” Rumseyh said.
With only a limitef number of large scale office dealspending – thosde seeking more than 25,000-square-feet – most in localo commercial real estate circles are focusing on lease packages that need smalleer amounts of square The number of small deals is reflective in the number of speculative office buildings that are under construction. The short answer while some multi-tenant Clas A buildings are under construction mostnotably ’s 80,000-square-foot building along North Forestf Road in Amherst – the economic development pipelinre is virtually empty of new office projects. That is creatingb an interesting scenario.
On one few developers are willing to take the financiao risk of building a spec structure in a slow Even if they were willing to take that leap of traditional financing may notbe available. On the othert hand, if a large scale officw user wereto emerge, they migh t have trouble finding suitable Class A office space in either downtowh Buffalo or the first ring Call it the commercial real estate conundrum. “Id someone is out there and needs 18,000-square-feet or 20,000-square-feetg and they need it immediately, they are not going to want to wait two or threes years to have the building saidJames Carminati, president.
A recent office markert survey, completed by the Buffalo office, foundx that downtown Buffalo has justa 6.28 percengt vacancy rate out of inventory that’s nearlgy 4 million square feet. In the Amherst-Town of Tonawandza corridor, there is a 12.47 perceng Class A office vacancyrate – one of its highesty in years. The Northtowns Class A officre vacancy rate hasrisen 3.1 percent in the past year. So what is a developeer supposedto do? “You retain what you said Michael Montante, vice president.
“Art the same time, it would foolish not to think thatthere won’t be some delinquencies and Robert McDonnell, vice president, said his company is lookinyg at growth from within – sort of Economic Developmentf 101.
Rumsey, a veteran commerciao real estate brokerwith , easil pinpoints the reason why he is less The answer? The recession. “The big buyerz are few and far between,” Rumsey said. “Right now, peopls are very reluctant to make any kind of Even in the bestof times, the Buffalo area is not pronee to large commercial deals, especially when it comes to One of the biggest took place almost one year ago when the the region’s third-largest law firm – agreed to move from Cathedrapl Place to the soon-to-opemn Avant building in downtown Buffalo.
Damonh & Morey is leasing more than 50,000-square-feet in the Avant, anchoring the Class A officr component ofthe 15-story building. Last fall, the federal Real Estate to take over twofloors – approximately 33,000-square-feet in downtown Buffalo’s Bank of Americs Building. Aside from those two there have been very few commercia l real estate or office transactions in the past Call it a sign ofthe “If a deal is viable, it will move ahead regardles of the economic conditions,” Rumseyh said.
With only a limitef number of large scale office dealspending – thosde seeking more than 25,000-square-feet – most in localo commercial real estate circles are focusing on lease packages that need smalleer amounts of square The number of small deals is reflective in the number of speculative office buildings that are under construction. The short answer while some multi-tenant Clas A buildings are under construction mostnotably ’s 80,000-square-foot building along North Forestf Road in Amherst – the economic development pipelinre is virtually empty of new office projects. That is creatingb an interesting scenario.
On one few developers are willing to take the financiao risk of building a spec structure in a slow Even if they were willing to take that leap of traditional financing may notbe available. On the othert hand, if a large scale officw user wereto emerge, they migh t have trouble finding suitable Class A office space in either downtowh Buffalo or the first ring Call it the commercial real estate conundrum. “Id someone is out there and needs 18,000-square-feet or 20,000-square-feetg and they need it immediately, they are not going to want to wait two or threes years to have the building saidJames Carminati, president.
A recent office markert survey, completed by the Buffalo office, foundx that downtown Buffalo has justa 6.28 percengt vacancy rate out of inventory that’s nearlgy 4 million square feet. In the Amherst-Town of Tonawandza corridor, there is a 12.47 perceng Class A office vacancyrate – one of its highesty in years. The Northtowns Class A officre vacancy rate hasrisen 3.1 percent in the past year. So what is a developeer supposedto do? “You retain what you said Michael Montante, vice president.
“Art the same time, it would foolish not to think thatthere won’t be some delinquencies and Robert McDonnell, vice president, said his company is lookinyg at growth from within – sort of Economic Developmentf 101.
Wednesday, December 14, 2011
Hawaiian Telcom opposes buyout offer - Washington Business Journal:
ekaterinaiuvo.blogspot.com
Sandwich Isles filed a motionh earlier this month to submit a competing Chapte r 11 reorganization plan forHawaiian Telcom. In it, the Honolulu-basede company offered to buy Hawaiian Telcom’s assets using $250 milliom in cash and $150 million in debt that wouls be issued byHawaiian Telcom. Untipl June 30, Hawaiian Telcom has so-called “exclusivity” in filingt a reorganization plan. The company wantw to extend that exclusivity to 30 as it gets votes on a proposed plan it filerdJune 3. Sandwich Isles has filesd an objection tothat extension, and Hawaiianb Telcom’s latest filing defends the request.
“Asking the courgt for help in promotinga low-ball offef for Hawaiian Telcom’s businesses is not a recipe for success in bankruptcg proceedings,” Hawaiian Telcom said in the filing. Sandwichh Isles, a company founded in 1995 to take advantage of governmentf subsidies that pay for the installatioh of broadband cable inrural areas, had said in its motiob that Hawaiian Telcom refused to consided its offer. But, Hawaiian Telcom says it analyzed and rejected the offerin May, for eight reasons listef in the filing.
It cited Sandwich lack of committed lack of federal and state licenses to operate in urban and lack of experience and ability to operatea full-servicde communications company. Hawaiian Telcom said it standzs behind its proposed reorganization plan to reducethe company’zs debt by nearly $790 from $1.1 billion to $300 million. Sandwich motion also claims Hawaiian Telcom has notmade good-faith progress in its bankruptcyy case since filing for Chapter 11 protection in In defending that claim, Hawaiiahn Telcom’s chief operating officer Kevimn Nystrom said the company has contacted “dozens of strategic and financiao purchasers.
” The company said it pursued a potential buyer, whom it did not but that after two months of talkzs no offer was made. Nystrom said Hawaiiab Telcom also askedits “equity -- its majority owner, of D.C. -- about a standalone reorganizatiobn and also discussed standalone restructuring optionsw with its bondholders andsecured lenders.
Sandwich Isles filed a motionh earlier this month to submit a competing Chapte r 11 reorganization plan forHawaiian Telcom. In it, the Honolulu-basede company offered to buy Hawaiian Telcom’s assets using $250 milliom in cash and $150 million in debt that wouls be issued byHawaiian Telcom. Untipl June 30, Hawaiian Telcom has so-called “exclusivity” in filingt a reorganization plan. The company wantw to extend that exclusivity to 30 as it gets votes on a proposed plan it filerdJune 3. Sandwich Isles has filesd an objection tothat extension, and Hawaiianb Telcom’s latest filing defends the request.
“Asking the courgt for help in promotinga low-ball offef for Hawaiian Telcom’s businesses is not a recipe for success in bankruptcg proceedings,” Hawaiian Telcom said in the filing. Sandwichh Isles, a company founded in 1995 to take advantage of governmentf subsidies that pay for the installatioh of broadband cable inrural areas, had said in its motiob that Hawaiian Telcom refused to consided its offer. But, Hawaiian Telcom says it analyzed and rejected the offerin May, for eight reasons listef in the filing.
It cited Sandwich lack of committed lack of federal and state licenses to operate in urban and lack of experience and ability to operatea full-servicde communications company. Hawaiian Telcom said it standzs behind its proposed reorganization plan to reducethe company’zs debt by nearly $790 from $1.1 billion to $300 million. Sandwich motion also claims Hawaiian Telcom has notmade good-faith progress in its bankruptcyy case since filing for Chapter 11 protection in In defending that claim, Hawaiiahn Telcom’s chief operating officer Kevimn Nystrom said the company has contacted “dozens of strategic and financiao purchasers.
” The company said it pursued a potential buyer, whom it did not but that after two months of talkzs no offer was made. Nystrom said Hawaiiab Telcom also askedits “equity -- its majority owner, of D.C. -- about a standalone reorganizatiobn and also discussed standalone restructuring optionsw with its bondholders andsecured lenders.
Monday, December 12, 2011
Putin's youth movement provides a sinister backdrop to Russia's protests - The Guardian
azajir.wordpress.com
The Guardian | Putin's youth movement provides a sinister backdrop to Russia's protests The Guardian More sinister was the list of potential opposition targets , including young activist, Ilya Yashin, who was this week sentenced to 15 days in prison for his role in the protests. Members also showed us a video of the harassment campaign against ... Russian spring: Putin's time may be up 'Putin's lot are thieves - we are the real power' Miffed Russians weary of Putin's 'business as usual' |
Saturday, December 10, 2011
DirecTV CEO leaving as Liberty merger nears - Dayton Business Journal:
inofiquxi.wordpress.com
just as the satellite broadcastetr readies to merge with an offshoot ofJohn Malone’s News and DirecTV confirmed Wednesday that Care will leave the El Calif.-based satellite broadcaster July 1 to become second-in-commanxd — handling international operations — for Rupert Murdoch’s global mediza empire. Carey’s defection may muddy reception of the planned merger between DirecTV andLibert Entertainment, a division of Douglasw County-based Liberty Media. Careyt ran DirecTV for the pastsix years, leading it through a period of growth and winning partnershipas with every major telecom companyh in the U.S.
He was expected to stay with DirecTcV after it became independent of Liberty Media. Instead, he returns to working for Murdoch and News where he worked for 15 years prior toheadiny DirecTV. Liberty Entertainment (NASDAQ: LMDIA) holdxs a 54 percent stake in (NASDAQ: DTV) as well as controllinhg stakes in online gaming companhyFun Technologies, the Game Show Network and regional sportx TV networks in Denver, Pittsburgyh and Seattle. Those holdings are being spun off this year intoa free-standingt company to clear up DirecTV’sw stock structure and make it easie r for it to engage in mergers and the companies said. Malone’s company traded its 16 perceng ownership stake inNews Corp.
back to Murdoch’s companty in 2007 in exchange for the controlling stakrin DirecTV.
just as the satellite broadcastetr readies to merge with an offshoot ofJohn Malone’s News and DirecTV confirmed Wednesday that Care will leave the El Calif.-based satellite broadcaster July 1 to become second-in-commanxd — handling international operations — for Rupert Murdoch’s global mediza empire. Carey’s defection may muddy reception of the planned merger between DirecTV andLibert Entertainment, a division of Douglasw County-based Liberty Media. Careyt ran DirecTV for the pastsix years, leading it through a period of growth and winning partnershipas with every major telecom companyh in the U.S.
He was expected to stay with DirecTcV after it became independent of Liberty Media. Instead, he returns to working for Murdoch and News where he worked for 15 years prior toheadiny DirecTV. Liberty Entertainment (NASDAQ: LMDIA) holdxs a 54 percent stake in (NASDAQ: DTV) as well as controllinhg stakes in online gaming companhyFun Technologies, the Game Show Network and regional sportx TV networks in Denver, Pittsburgyh and Seattle. Those holdings are being spun off this year intoa free-standingt company to clear up DirecTV’sw stock structure and make it easie r for it to engage in mergers and the companies said. Malone’s company traded its 16 perceng ownership stake inNews Corp.
back to Murdoch’s companty in 2007 in exchange for the controlling stakrin DirecTV.
Thursday, December 8, 2011
Lincoln National reveals financial plans - Tampa Bay Business Journal:
ejoxot.wordpress.com
Shares closed 11 percent lower Mondayat $15.83, on a day the markete lost more than 2 percent. Lincolb National said it will targetabout $950 millionj in preferred stock from TARP’s Capital Purchasd Program. It will also try and raise $600 millionn through a common stock offeringvand $500 million in senior debt. The underwritera of the offering will havea 30-dayu option to buy up to an additional 15 percentr of the offered amount of common shares from the Lincoln National said it intendsx to contribute about $1 billion of the proceeds to its principal insurance , with the remaining $1 billionh held at the holding company for generaol corporate purposes, including the repayment of short-term debt and investment in the company’s core businesses.
In a separats release Monday announcinganother cost-cutting maneuver, Lincoln National said that it agreed to sell its Britisu subsidiary, Lincoln National (UK) plc, to SLF of Canada UK Ltd. for an estimated 195 Britishh pounds. Lincoln said the transaction, expected to clos on or around Sept. 30, should generatw estimated proceeds ofbetween $280 milliobn and $300 million, which will be used for core U.S. SLF is owned by Toronto-based Sun Life where former Lincoln CEO Jon Boscia isnow president.
Lincoln National said these actions supplementdividend reductions, cost and other actions previously taken to strengthen its capital and and solidify the company’s capital positions at both the subsidiarh and holding company The Philadelphia-based company believes that TARP participationn provides additional capital flexibility. The company expects to repay thisfinancingt “as soon as taking into consideration appropriate balance sheetg strength and capital markets conditions.” The final level of Lincoln’x participation is expected to be announcedd by the end of June. Last Lincoln National received preliminary approval for upto $2.5 billion undet the program.
It said the exact level of its participationm will be determined by the end ofthis month. Lincoln is one of six insuranc e companies to receivesuch approval. The $700 billiom Troubled Asset Relief Program, approved by Congress last was originally intended to buy toxi loans that were inhibiting banks from makingtadditional loans. But it was also used to make loanas to GeneralMotors Corp., Chryslerf and insurance giant Lincoln National was one of severa insurers that applied to become thrift holding companieas last fall so they could be considerex for TARP funds.
The insurersa had concerns about the rising numbefr of bad assets on their Lincoln National and other insurers saw theid stock prices drop in receng months as they waited forgovernment approval. As for the stock and Merrill Lynch & Co. will servw as global coordinators and GoldmanSachs Co. and Morgan Stanley & Co. Inc. will served as joint book-running managers. In explaining its decision in aregulatoryh filing, Lincoln National said that although the capital and crediyt markets have shown recent improvements, those marketas have experienced extreme volatility and disruption for more than a “Given these conditions, our capital strategy is to have sufficieny capital to offer downside protectionn in the event that the capital and credit markets experience another downturn as well as to support growth in our operating businesses,” the companyg said.
Lincoln National said it believes thatthe $2 billioj infusion will provide it with sufficient capital to offset a “stress scenario” analysiss for 2009 and 2010. That scenario woulf include credit losses and impairmentw amounting toapproximately $1.65 billion, or 2.5 percent basedf on invested assets as of Marcj 31. Lincoln (NYSE:LNC), whicbh markets itself as , offers both insurancr and investmentmanagement products.
Shares closed 11 percent lower Mondayat $15.83, on a day the markete lost more than 2 percent. Lincolb National said it will targetabout $950 millionj in preferred stock from TARP’s Capital Purchasd Program. It will also try and raise $600 millionn through a common stock offeringvand $500 million in senior debt. The underwritera of the offering will havea 30-dayu option to buy up to an additional 15 percentr of the offered amount of common shares from the Lincoln National said it intendsx to contribute about $1 billion of the proceeds to its principal insurance , with the remaining $1 billionh held at the holding company for generaol corporate purposes, including the repayment of short-term debt and investment in the company’s core businesses.
In a separats release Monday announcinganother cost-cutting maneuver, Lincoln National said that it agreed to sell its Britisu subsidiary, Lincoln National (UK) plc, to SLF of Canada UK Ltd. for an estimated 195 Britishh pounds. Lincoln said the transaction, expected to clos on or around Sept. 30, should generatw estimated proceeds ofbetween $280 milliobn and $300 million, which will be used for core U.S. SLF is owned by Toronto-based Sun Life where former Lincoln CEO Jon Boscia isnow president.
Lincoln National said these actions supplementdividend reductions, cost and other actions previously taken to strengthen its capital and and solidify the company’s capital positions at both the subsidiarh and holding company The Philadelphia-based company believes that TARP participationn provides additional capital flexibility. The company expects to repay thisfinancingt “as soon as taking into consideration appropriate balance sheetg strength and capital markets conditions.” The final level of Lincoln’x participation is expected to be announcedd by the end of June. Last Lincoln National received preliminary approval for upto $2.5 billion undet the program.
It said the exact level of its participationm will be determined by the end ofthis month. Lincoln is one of six insuranc e companies to receivesuch approval. The $700 billiom Troubled Asset Relief Program, approved by Congress last was originally intended to buy toxi loans that were inhibiting banks from makingtadditional loans. But it was also used to make loanas to GeneralMotors Corp., Chryslerf and insurance giant Lincoln National was one of severa insurers that applied to become thrift holding companieas last fall so they could be considerex for TARP funds.
The insurersa had concerns about the rising numbefr of bad assets on their Lincoln National and other insurers saw theid stock prices drop in receng months as they waited forgovernment approval. As for the stock and Merrill Lynch & Co. will servw as global coordinators and GoldmanSachs Co. and Morgan Stanley & Co. Inc. will served as joint book-running managers. In explaining its decision in aregulatoryh filing, Lincoln National said that although the capital and crediyt markets have shown recent improvements, those marketas have experienced extreme volatility and disruption for more than a “Given these conditions, our capital strategy is to have sufficieny capital to offer downside protectionn in the event that the capital and credit markets experience another downturn as well as to support growth in our operating businesses,” the companyg said.
Lincoln National said it believes thatthe $2 billioj infusion will provide it with sufficient capital to offset a “stress scenario” analysiss for 2009 and 2010. That scenario woulf include credit losses and impairmentw amounting toapproximately $1.65 billion, or 2.5 percent basedf on invested assets as of Marcj 31. Lincoln (NYSE:LNC), whicbh markets itself as , offers both insurancr and investmentmanagement products.
Monday, December 5, 2011
Port to sell land to Keystone Coal - South Florida Business Journal:
tenamup.wordpress.com
owner Tom Scholl will pay $6.6 milliohn for the property and pay hisown attorney’zs legal fees of $6.6 million, whicyh the authority was ordered to pay. Under the arrangement, Scholl won’tg pursue legal action against the authority for alleges business lost when the 70 acres at the northern terminalp of Talleyrand Avenue were under threat ofeminent domain. Jacksonville Port Authority Executive Director Rick Ferrin said a bulk materials terminal could have been builtg on the38 acres, but the authorit decided to sell due to its need for capita and desire to focus on building Ltd’s terminal at Dames Point.
He added that the economidc impact of the 38 acres would be greater if it was combinesd with the other 68 Keystone Coal plans to builda $20 million coal terminal on part of its 78-acrew parcel. The authority bought the 38 acres forabouyt $5.7 million from Jax LLC. Following the $61 million verdicgt for the 70 acres of land andthe authority’d balking on the price, Judge Richard Watsonj ordered the authority to pay $10. million to lawyers who defended Keystone’s lead counsel Andrew Brighaj said he reduced the attorneyu fees by 40 percentfrom $10.
5 million to bettee help Keystone and the authority reach a
owner Tom Scholl will pay $6.6 milliohn for the property and pay hisown attorney’zs legal fees of $6.6 million, whicyh the authority was ordered to pay. Under the arrangement, Scholl won’tg pursue legal action against the authority for alleges business lost when the 70 acres at the northern terminalp of Talleyrand Avenue were under threat ofeminent domain. Jacksonville Port Authority Executive Director Rick Ferrin said a bulk materials terminal could have been builtg on the38 acres, but the authorit decided to sell due to its need for capita and desire to focus on building Ltd’s terminal at Dames Point.
He added that the economidc impact of the 38 acres would be greater if it was combinesd with the other 68 Keystone Coal plans to builda $20 million coal terminal on part of its 78-acrew parcel. The authority bought the 38 acres forabouyt $5.7 million from Jax LLC. Following the $61 million verdicgt for the 70 acres of land andthe authority’d balking on the price, Judge Richard Watsonj ordered the authority to pay $10. million to lawyers who defended Keystone’s lead counsel Andrew Brighaj said he reduced the attorneyu fees by 40 percentfrom $10.
5 million to bettee help Keystone and the authority reach a
Saturday, December 3, 2011
Taiko Sushi in Massapequa: First bites - Newsday
ysynut.wordpress.com
Newsday | Taiko Sushi in Massapequa: First bites Newsday Click here Taiko Sushi in Massapequa: First bites Thursday December 1, 2011 12:52 PM By Joan Reminick In Massapequa, new restaurant seekers craving a Japanese food fix have a new source: Taiko Sushi, which debuted in the former home of CJ's Family ... |
Thursday, December 1, 2011
Human Genome Sciences Invites Investors To Listen To Webcast Of Presentation ... - TheStreet.com (press release)
uhetemejih.wordpress.com
Human Genome Sciences Invites Investors To Listen To Webcast Of Presentation ... TheStreet.com (press release) By Business Wire 12/01/11 - 04:00 PM EST Human Genome Sciences, Inc. (NASDAQ: HGSI) announced today that its presentation at the 2011 Deutsche Bank BioFEST Conference will be webcast and may be accessed at www.hgsi.com. A member of Human Genome ... Stock Investors Sell Off Shares of Human Genome Sciences, Down 2.5% Research and Markets: Human Genome Sciences Inc. Company Profile and SWOT ... Human Genome Sciences Invites Investors to Listen to Webcast of Presentation ... |
Subscribe to:
Posts (Atom)