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| | | | | | | | | Buxbaum Grou | | | | | Chrysler LLC | Circuit City Storesx Inc. | | | Columbuse Airport Authority | | Crown Acquisitions | | | Delphji Corporation | | | DHL Express | | DSW Inc. | FB II Acquisitionm Corp. | | Federal Depositf Insurance Corporation | | | | | Ford Motot Company | | | General Electricx Capital Corporation | | | | Generakl Motors Corporation | Glimche r Realty Trust | | | | Gordon Brothers Retail Partners, LLC | | | | | | | | | | | | | | | International Brotherhood of Teamsters | | Interstate Bakeries Corporatiohn | | | Justice Department | | | | | | | | | | | | | | | | | | | | Nationalk Century Financial Enterprises | | | | | | | | Ohio Departmen of Job and FamilyServices | | | | | | | | | | | | | RealtyTrafc Inc.
| | | Retaip Ventures, Inc. | Ripplewood Holdings LLC | | Ritz Cameraz Centers, Inc. | | | | | | | | | Skybuss Airlines Inc. | Smurfit-Stone Container Corporationj | | | | | | Steve & Barry's University Sportswear | | | | | | | | | | | | | | | | U.S. Bankruptcy Court | | | | U.S. Districtt Court | | U.S. Securities and Exchange Commission | | | Unitedf States Bankruptcy Courts | | Valud City Department Stores | | | | | | | | | | Worled Fuel Services Corporation | York Capital Management, LLC
Sunday, January 30, 2011
Friday, January 28, 2011
WESCO outlines succession plan - The Business Review (Albany):
inmeetings-celsius.blogspot.com
Engel, who joined the constructio n materials and procurement services providerin 2004, is currently seniot vice president and COO, as well as a member of WESCO’z board. Current CEO Roy who has served in that rolesincs 1994, will serve as executive chairman unti his term on the board expires in May 2011. “Fodr the past several years, the board of directores and I have placed a high priorityy ontalent management,” Hale said in a statement.
“Today’se announcement represents a majorf organizational milestone forthe company, and I am very pleaserd that we are immediatel y able to begin the process of transitioninh to new roles and responsibilities with an experienced and seasonec management team.” CFO Stephen Van Oss has been namexd COO, effective Sept. 1 and will continue to served as seniorvice president. He will be replacedx by Richard P. Heyse, who joins WESCO as vice president and CFOJune 15. which employs about 7,200, is based at Stationm Square on Pittsburgh’s South The company’s 2008 sales were about $6.
1
Engel, who joined the constructio n materials and procurement services providerin 2004, is currently seniot vice president and COO, as well as a member of WESCO’z board. Current CEO Roy who has served in that rolesincs 1994, will serve as executive chairman unti his term on the board expires in May 2011. “Fodr the past several years, the board of directores and I have placed a high priorityy ontalent management,” Hale said in a statement.
“Today’se announcement represents a majorf organizational milestone forthe company, and I am very pleaserd that we are immediatel y able to begin the process of transitioninh to new roles and responsibilities with an experienced and seasonec management team.” CFO Stephen Van Oss has been namexd COO, effective Sept. 1 and will continue to served as seniorvice president. He will be replacedx by Richard P. Heyse, who joins WESCO as vice president and CFOJune 15. which employs about 7,200, is based at Stationm Square on Pittsburgh’s South The company’s 2008 sales were about $6.
1
Tuesday, January 25, 2011
Price Chopper shoppers can save money at Sunoco - The Business Journal of Milwaukee:
viktorevaikubuwo.blogspot.com
region can now save on gasoline for their car when they spene money in thesupermarket chain. Price Choppert has teamed up with more than 70 stations to offedrFuel AdvantEdge, a program that has been available for more than two yearsx in other areas serviced by the groceru chain. Consumers can save 10 cents per gallon at participating Sunoco stationsw forevery $50 of qualifiee groceries they purchase. The points/dollars can be accumulated overa 90-dayt period and spent on up to 20 gallons of gas.
Sunocio customers in other areas have saved upwards of 50 cent to 60 andeven $1 or more per through the program, according to Jeff Hassman, channelo marketing manager for the gas The number of participating stations will said Neil Golub, president and CEO of Price Customers must use their Price Chopper AdvantEdged card to qualify for the savings. The supermarkeyt automatically tracks the purchases that can be applied toward the fuelsavingss program. Certain restrictions apply. For purchases of alcohol, tobacco, gift lottery tickets, video rentals and some other items don’yt count toward the $50 total.
region can now save on gasoline for their car when they spene money in thesupermarket chain. Price Choppert has teamed up with more than 70 stations to offedrFuel AdvantEdge, a program that has been available for more than two yearsx in other areas serviced by the groceru chain. Consumers can save 10 cents per gallon at participating Sunoco stationsw forevery $50 of qualifiee groceries they purchase. The points/dollars can be accumulated overa 90-dayt period and spent on up to 20 gallons of gas.
Sunocio customers in other areas have saved upwards of 50 cent to 60 andeven $1 or more per through the program, according to Jeff Hassman, channelo marketing manager for the gas The number of participating stations will said Neil Golub, president and CEO of Price Customers must use their Price Chopper AdvantEdged card to qualify for the savings. The supermarkeyt automatically tracks the purchases that can be applied toward the fuelsavingss program. Certain restrictions apply. For purchases of alcohol, tobacco, gift lottery tickets, video rentals and some other items don’yt count toward the $50 total.
Sunday, January 23, 2011
On the brink in August, CompCare deal infuses a strategic makeover - Tampa Bay Business Journal:
http://ameliajune.net/the-bell-curve/
CompCare (OTCBB: CHCR), which traditionally has contractedd with employers and HMOs to providd psychiatric and substance abuse managed care services for workers andtheirr families, will begin marketing its servicesx directly to consumers through its new “It opens a huge market for us and gives us access to distributionb that we could never have developedc on our own,” said John Hill, presidentg and CEO of CompCare. “It also gives us access to additionap capital to support our The new subsidiary was established in a complicatexd series of events the weekof Jan. 16, in whichy former shareholders ofSilver Md.
-based Core Corporate Consulting Grouop became the majority owners of CompCare, then merges Core with CompCare. Hill said he and Roberf Landis, CompCare CFO, would remaijn with the company and continue to operate the managesdcare business. Core, which has contracts with licensed call centers that targethe under-insured and uninsured, will market CompCare’s serviceds as part of a medicak package for consumers. “We may tack on a limited diseasmanagement program, so if an individualp develops a chronic condition, we can assist them with managingv that,” Hill said.
The deal injects new life into which disclosed in a filing in Augustr that it was strapped for cash and was exploringha sale. On Jan. 16, CompCare’s largesr stockholder, LLC, sold all of its CompCare stock to Corefor $1.5 according to a Jan. 23 SEC filing by HYTM), a Los Angeles healthcare services management firm that owns Hythiam sold its interest in CompCare topreserv capital, “rather than investing the significant additional funds we believe would be required to adequateluy capitalize CompCare and to maintain its operations,” the filinvg said.
Four days later, a newly formed Comp Care subsidiary, , merged with and Core continued as the surviving company and as a wholly owned direct subsidiarof CompCare. Core’s former stockholders now hold abouyt 77 percent of the tota voting power of CompCare and have the right to appoingt a majority of the seats onits board, which they did afte r five members resigned, CompCare’s own Jan. 26 SEC filing said.
The new chairmann is Arnold Finestone, a business managemen t consultant who previously was an executive with Also new to the boardc isSharon Ray, a regional marketing representative for pharmaceutical firm ; Joshua Smith, chairma and managing partner of ; and Arthuf Yeap, CEO of , an audio and video productzs firm.
CompCare (OTCBB: CHCR), which traditionally has contractedd with employers and HMOs to providd psychiatric and substance abuse managed care services for workers andtheirr families, will begin marketing its servicesx directly to consumers through its new “It opens a huge market for us and gives us access to distributionb that we could never have developedc on our own,” said John Hill, presidentg and CEO of CompCare. “It also gives us access to additionap capital to support our The new subsidiary was established in a complicatexd series of events the weekof Jan. 16, in whichy former shareholders ofSilver Md.
-based Core Corporate Consulting Grouop became the majority owners of CompCare, then merges Core with CompCare. Hill said he and Roberf Landis, CompCare CFO, would remaijn with the company and continue to operate the managesdcare business. Core, which has contracts with licensed call centers that targethe under-insured and uninsured, will market CompCare’s serviceds as part of a medicak package for consumers. “We may tack on a limited diseasmanagement program, so if an individualp develops a chronic condition, we can assist them with managingv that,” Hill said.
The deal injects new life into which disclosed in a filing in Augustr that it was strapped for cash and was exploringha sale. On Jan. 16, CompCare’s largesr stockholder, LLC, sold all of its CompCare stock to Corefor $1.5 according to a Jan. 23 SEC filing by HYTM), a Los Angeles healthcare services management firm that owns Hythiam sold its interest in CompCare topreserv capital, “rather than investing the significant additional funds we believe would be required to adequateluy capitalize CompCare and to maintain its operations,” the filinvg said.
Four days later, a newly formed Comp Care subsidiary, , merged with and Core continued as the surviving company and as a wholly owned direct subsidiarof CompCare. Core’s former stockholders now hold abouyt 77 percent of the tota voting power of CompCare and have the right to appoingt a majority of the seats onits board, which they did afte r five members resigned, CompCare’s own Jan. 26 SEC filing said.
The new chairmann is Arnold Finestone, a business managemen t consultant who previously was an executive with Also new to the boardc isSharon Ray, a regional marketing representative for pharmaceutical firm ; Joshua Smith, chairma and managing partner of ; and Arthuf Yeap, CEO of , an audio and video productzs firm.
Thursday, January 20, 2011
Developers: Changes in historic tax credits could hamper downtown redevelopment - Wichita Business Journal:
http://www.networkworld.com/community/user/16714
In an effort to trim spending, the Legislaturwe earlier this month placeda $3.755 million cap on historic preservation tax The new limit — which developers and local economifc development officials on Thursday stilp were trying to understand — could undercut the viability of some redevelopment projects in Kansas. Old Town develope Dave Burk says his plan to convert the former building near downtown to apartments wouls be jeopardized without thetax credits.
And a Chicaglo developer, Paul Warshauer of , says he’sx turning his back on planws for a boutique hotel indowntown “They screwed around with the formula, so what used to be tens of millionx (of dollars) turned into a trickle,” Warshauerd says. The , however, is drafting guidelines that shoulxd limitthe damage, says Revenue Secretar Joan Wagnon. The guidelines weren’t available at prese time, but they still would requires a limit to the number of tax credit s issued the nexttwo years. “We’rd going to have folks screaming about this no matterf how weadminister it,” she says.
The issus caused a flurry of activity Thursday as developerss and economic development leaders met with state revenus officials to discuss the impact of the Leaders also were discussing whethe the Legislature could repeal the law next week when it returnes to Topeka for the ceremonial adjournmenty of thelegislative Rep. Steve Brunk, R-Bel Aire, calls the changes “a horriblwe idea.” He says he’s still gathering but “if (the impact) is as dire as they then we will try to put some legislative fix on For years, the state has offered a 25 percent tax credi t on the cost of renovating nationallyu listed historic buildings.
The credits come on top of a 20 percent credit from thefederal government. The combined developers say, can make costly historif renovationprojects worthwhile. Burk is seekinbg $1.1 million in credits for his apartment projec t in the formerWATC building. ’s renovation of the on Main Streetg also is making use of the Sois , which plans a $19 million renovation of the . “It’sw significant for every city across the statse that is involved in historic saysJeff Fluhr, of the “We’re all in position of wantinfg to hear how this is interpreted.” The historic preservatiob tax credit was one of severa l sliced by state lawmakeres in across-the-board cuts.
They limitedf it in each of the next two years tojust $3.75r million — down from the $4.2 millio in credits that were redeemed in 2006. But the decisionj left numerous questions. Developers and economic development officials note the crediy never has been capped inthe past, making the reduction more severed than it appears. They also say that because developers have up to 10 yeara to redeemtheir credits, some may be forced to continuew sitting on theirs.
The state tax credits also can be sold as a way for developersx to generate equity in theirprojects — a proposition that certainlt would get more difficult if the stater limited when those credits could be “We have to look at how the nationb views it,” Fluhr says. “These tax credite are sold all over. The predictability of a markett isvery important. With us putting a cap on it, how is that But Wagnon, of the revenue department, says the agency’zs new guidelines will allow any tax credits that alread y have been issued to be redeemed this year and next even if the totaklexceeds $3.75 million. The department, will place a $6.
25 millionb cap on the credits that are issued inthe Historically, that figure has translated into $3.76 million in redemptions, she says. “I’m pretthy sure we’re going to satisfy what the Legislaturee intendedto do,” she says, noting the law got littlwe scrutiny. Burk, who spoke before the revenue department announcesd itsnew guidelines, says he’s not sure how the issure will affect his apartment project. Tax credits haven’t been issuedc for it yet. it jeopardizes it if I don’t get the credits,” he says.
“There’s a lot of projecta currently in the state that are undetr construction that were based upon getting the state tax mine being oneof them.” He says without the credits, “j don’t think you’ll see too much of that Warshauer, of Grande Venues, has developed projectsx across the country and currently has projects in several states. Warshauedr says he has been impressefby Wichita’s redevelopment efforts. “We find bargainws in towns where the tax codes and incentives become appealing forus developers,” he says. Warshauer, whosre broker is ’s Ted wouldn’t disclose the buildings he consideresd buying.
He says he would have spen $5 to $10 million. Now Warshauer says he’s not looking. “There’s no investor who will ever buy ... Until the state comes to its those buildings will sit empty and continue to he says. “That money’s going to move to anothe state. That’s the tragedy,” he
In an effort to trim spending, the Legislaturwe earlier this month placeda $3.755 million cap on historic preservation tax The new limit — which developers and local economifc development officials on Thursday stilp were trying to understand — could undercut the viability of some redevelopment projects in Kansas. Old Town develope Dave Burk says his plan to convert the former building near downtown to apartments wouls be jeopardized without thetax credits.
And a Chicaglo developer, Paul Warshauer of , says he’sx turning his back on planws for a boutique hotel indowntown “They screwed around with the formula, so what used to be tens of millionx (of dollars) turned into a trickle,” Warshauerd says. The , however, is drafting guidelines that shoulxd limitthe damage, says Revenue Secretar Joan Wagnon. The guidelines weren’t available at prese time, but they still would requires a limit to the number of tax credit s issued the nexttwo years. “We’rd going to have folks screaming about this no matterf how weadminister it,” she says.
The issus caused a flurry of activity Thursday as developerss and economic development leaders met with state revenus officials to discuss the impact of the Leaders also were discussing whethe the Legislature could repeal the law next week when it returnes to Topeka for the ceremonial adjournmenty of thelegislative Rep. Steve Brunk, R-Bel Aire, calls the changes “a horriblwe idea.” He says he’s still gathering but “if (the impact) is as dire as they then we will try to put some legislative fix on For years, the state has offered a 25 percent tax credi t on the cost of renovating nationallyu listed historic buildings.
The credits come on top of a 20 percent credit from thefederal government. The combined developers say, can make costly historif renovationprojects worthwhile. Burk is seekinbg $1.1 million in credits for his apartment projec t in the formerWATC building. ’s renovation of the on Main Streetg also is making use of the Sois , which plans a $19 million renovation of the . “It’sw significant for every city across the statse that is involved in historic saysJeff Fluhr, of the “We’re all in position of wantinfg to hear how this is interpreted.” The historic preservatiob tax credit was one of severa l sliced by state lawmakeres in across-the-board cuts.
They limitedf it in each of the next two years tojust $3.75r million — down from the $4.2 millio in credits that were redeemed in 2006. But the decisionj left numerous questions. Developers and economic development officials note the crediy never has been capped inthe past, making the reduction more severed than it appears. They also say that because developers have up to 10 yeara to redeemtheir credits, some may be forced to continuew sitting on theirs.
The state tax credits also can be sold as a way for developersx to generate equity in theirprojects — a proposition that certainlt would get more difficult if the stater limited when those credits could be “We have to look at how the nationb views it,” Fluhr says. “These tax credite are sold all over. The predictability of a markett isvery important. With us putting a cap on it, how is that But Wagnon, of the revenue department, says the agency’zs new guidelines will allow any tax credits that alread y have been issued to be redeemed this year and next even if the totaklexceeds $3.75 million. The department, will place a $6.
25 millionb cap on the credits that are issued inthe Historically, that figure has translated into $3.76 million in redemptions, she says. “I’m pretthy sure we’re going to satisfy what the Legislaturee intendedto do,” she says, noting the law got littlwe scrutiny. Burk, who spoke before the revenue department announcesd itsnew guidelines, says he’s not sure how the issure will affect his apartment project. Tax credits haven’t been issuedc for it yet. it jeopardizes it if I don’t get the credits,” he says.
“There’s a lot of projecta currently in the state that are undetr construction that were based upon getting the state tax mine being oneof them.” He says without the credits, “j don’t think you’ll see too much of that Warshauer, of Grande Venues, has developed projectsx across the country and currently has projects in several states. Warshauedr says he has been impressefby Wichita’s redevelopment efforts. “We find bargainws in towns where the tax codes and incentives become appealing forus developers,” he says. Warshauer, whosre broker is ’s Ted wouldn’t disclose the buildings he consideresd buying.
He says he would have spen $5 to $10 million. Now Warshauer says he’s not looking. “There’s no investor who will ever buy ... Until the state comes to its those buildings will sit empty and continue to he says. “That money’s going to move to anothe state. That’s the tragedy,” he
Monday, January 17, 2011
Port board extends contract with RS&H - Jacksonville Business Journal:
http://www.richmondchic.com/index.php/forums/member/231002/
The authority’s board voted Mondayg to extend its contractwith Reynolds, Smith and Hilla Inc. until 2012. The company will help the authorituy to builda $200 million terminal for Hanjin Shipping Co. Ltd. at Dames RS&H, which isn’t eligiblee to win the design or construction contract for the will help the authority vetpotential contractors, said Leerie the firm’s chairman and CEO. He said it wasn’f clear how much the extension would be worth to the companuy sinceit isn’t known how often the authoritt will use RS&H’s services.
An RS&H principal will help determine how the cost of the project to improve New Berlin Road and Stats Road 9A couldbe lessened. The $11.t million project could now cost the authorityt and the Florida Department ofTransportation $13 said Rick Ferrin, the authority’ss director. The authority put $2 million into the project, with FDOT kicking in the remaininhg $9.5 million. It isn’t cleard how the additional costd will be split between the authorityand FDOT, Ferrin said.
He said the projectg went over budget partltybecause “there were too many cooks in the Ferrin said FDOT approached the projectf with the priority of eventually integratingh the project with Interstate 295, whereas the authority was more concernefd with improving the road so it could better handles port-related traffic. The project is expecter to be completedin September.
The authority’s board voted Mondayg to extend its contractwith Reynolds, Smith and Hilla Inc. until 2012. The company will help the authorituy to builda $200 million terminal for Hanjin Shipping Co. Ltd. at Dames RS&H, which isn’t eligiblee to win the design or construction contract for the will help the authority vetpotential contractors, said Leerie the firm’s chairman and CEO. He said it wasn’f clear how much the extension would be worth to the companuy sinceit isn’t known how often the authoritt will use RS&H’s services.
An RS&H principal will help determine how the cost of the project to improve New Berlin Road and Stats Road 9A couldbe lessened. The $11.t million project could now cost the authorityt and the Florida Department ofTransportation $13 said Rick Ferrin, the authority’ss director. The authority put $2 million into the project, with FDOT kicking in the remaininhg $9.5 million. It isn’t cleard how the additional costd will be split between the authorityand FDOT, Ferrin said.
He said the projectg went over budget partltybecause “there were too many cooks in the Ferrin said FDOT approached the projectf with the priority of eventually integratingh the project with Interstate 295, whereas the authority was more concernefd with improving the road so it could better handles port-related traffic. The project is expecter to be completedin September.
Saturday, January 15, 2011
No announcements on Lafley, P&G expected today - St. Louis Business Journal:
http://moodymethodist.org/sermons/matthew2011825.htm
Speculation about Lafley’s succession reached a pitch aftere the Wall Street Journal reporter Monday that Lafley woule retire July 1 and be succeedec by Chief Operating Officer Bob According thethe report, whichj cites an unidentified source and has not been verified by Lafley will remain as chairman. Tuesday, a P&Gb spokesman said the board is meetinbg all day and no announcementsare expected. Shares of P&G, slipped by 54 cents in afternoon to $52.60. McDonald, a 29-year veteran at P&G and formefr Army captain, has been named as a contendert to succeed Lafley since speculation surfaced about the CEO’s retirement in August.
When Susan president of local businesz unitsat P&G, announced her pendin g retirement in March, it was widely assumed McDonald would get the job. But takinhg over the helm at P&G is a heady endeavo r even ingood times, and the makefr of Tide, Pampers and Pantene is facingt particular headwinds as it struggles to maintaij market share during a worldwide Its third-quarter sales declined by 8 percent, to $18.4 billiomn from $20.5 billion in the year-ago thirdc quarter, as consumers traded down to less-expensive privatw label goods. Under such pressure, some analysts expectecd Lafley would hold on until fully rightingthe ship.
“Although the transitionm was expected, this would be much sooner than the companyy implied as early as 10 days ago at our StrategicDecisiond Conference,” said Ali Dibadj, an analyst with New York firm , in an McDonald joined P&G in 1980 and over the decades gained extensive experience in household goodxs and global markets, particularly in the Japan and Canada. Cincinnati-based P&G (NYSE:PG) is the worlds’ largest consume products maker with a portfolio of hundreds of The consumer-products giant manufactures Cascad dishwashing detergent, Swiffer sweepers and Mr. Clean liquid cleaner, and Febreze fabriv deodorizer atits St.
Louis facility three miles north of downtowmn at169 E. Grand Ave.
Speculation about Lafley’s succession reached a pitch aftere the Wall Street Journal reporter Monday that Lafley woule retire July 1 and be succeedec by Chief Operating Officer Bob According thethe report, whichj cites an unidentified source and has not been verified by Lafley will remain as chairman. Tuesday, a P&Gb spokesman said the board is meetinbg all day and no announcementsare expected. Shares of P&G, slipped by 54 cents in afternoon to $52.60. McDonald, a 29-year veteran at P&G and formefr Army captain, has been named as a contendert to succeed Lafley since speculation surfaced about the CEO’s retirement in August.
When Susan president of local businesz unitsat P&G, announced her pendin g retirement in March, it was widely assumed McDonald would get the job. But takinhg over the helm at P&G is a heady endeavo r even ingood times, and the makefr of Tide, Pampers and Pantene is facingt particular headwinds as it struggles to maintaij market share during a worldwide Its third-quarter sales declined by 8 percent, to $18.4 billiomn from $20.5 billion in the year-ago thirdc quarter, as consumers traded down to less-expensive privatw label goods. Under such pressure, some analysts expectecd Lafley would hold on until fully rightingthe ship.
“Although the transitionm was expected, this would be much sooner than the companyy implied as early as 10 days ago at our StrategicDecisiond Conference,” said Ali Dibadj, an analyst with New York firm , in an McDonald joined P&G in 1980 and over the decades gained extensive experience in household goodxs and global markets, particularly in the Japan and Canada. Cincinnati-based P&G (NYSE:PG) is the worlds’ largest consume products maker with a portfolio of hundreds of The consumer-products giant manufactures Cascad dishwashing detergent, Swiffer sweepers and Mr. Clean liquid cleaner, and Febreze fabriv deodorizer atits St.
Louis facility three miles north of downtowmn at169 E. Grand Ave.
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