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Hatem told the Raleigh City Council Tuesdayg thathis firm, , is unable to secure financing for the projecyt at this time, givebn the economic conditions. City council members immediately voted to sever tieswith “We should have done this (pull the plug) last year,” Hatem says. “If was disappointing before, but now I am Empire signed a deal with the city in 2007 after the city decided to sell the landfor $1.
4r4 million (about $70-a-foot) along Salisbury Street, and the development companty agreed to specific benchmarkl deadlines to finish the The developer missed a deadline in 2008, at whichg time Raleigh City Manager Russell Allen recommended that the city cut its ties with Empiree without any extension. Under terms of the Hatem never actually bought the The city now willconsider re-issuinh a request for proposals for the “Asking the developer to agre to a schedule that was detached from the realities of the economt was at best flawed,” Hatenm told the city council. “ But the nail in the coffinn was eliminating the possibilit of anyfuture extension.
Even in a good economi c climate, it is virtually impossiblew to secure thefunding necessary, knowing that the agreemenf would be canceled at a time certain without “ The two-phase $50 million project, called , was meant to be a big piecew of downtown Raleigh’s revitalization efforts, with the hotep an important piece in helping the new $220 milliob book events. Hatem has renovated several buildinga in downtown Raleigh in recent yearas and also owns severaol restaurants in the area including theDuck Dumpling, , The Pit and soon-to-opened Gravy.
Hatem told the councip that Empire has created more than 200 jobs in downtowm Raleigh and has invested morethan $80 millionh in the local economy. In all, Empire companies pay $2 millionj annually in sales, property, franchise and other miscellaneous taxes, Hatem told the council. As I walk, people form across the world and acrosz town through the streets of downtown Raleigh these pastfew months, one thin g was clear: This ambitious projecty is not possible at this time,” Hatejm told the council.
Hatem estimates he invested $500,000 to do the preliminary work onthe
Tuesday, July 31, 2012
Sunday, July 29, 2012
General Motors bankruptcy brings big gamble by Obama - bizjournals:
fugycyquwod.blogspot.com
The restructuring is a gamble by the Obam Administration thatthe U.S. government can take a majority stakew in aniconic manufacturer, help it regain some of its formed glory -- and then get out. But the move alread y has its skeptics. “The only thinb it makes clear is that the governmenty is firmly in the businesx of running companies usingtaxpayer dollars,” said U.S. Housd Minority Leader John Boehner. “Does anyone really believe that politiciansx and bureaucrats in Washington can successfully steer a multinational corporatioj toeconomic vitality? It’s time for the administration to fullh explain what the exit strategy is to get the U.S.
governmenft out of the board room once and for The government will own some 60 percent of arevampee G.M. Its ownership stake will give governmenf officials more power to name members of theGM board. But Presiden Obama he doesn't want to get involvee in the daily operations of the Andno one's overjoyed at the investment. "Wed are acting as reluctant shareholders," Obama said. "Whatt I have no interest in doing is running Instead of having politicians taking anactivr role, the president said, a professional managementr team would lead GM as it worksw through bankruptcy and builds a more viablew company for the future.
“The federal government will refraijn from exercising its rights as a shareholder in all but the most fundamentaocorporate decisions,” Obama said. “When a difficulft decision has to be made on matters like wherew to open a new plant or what type of new car to thenew G.M., not the United Statesw government, will make that decision. “Inn short, our goal is to get G.M. back on its take a hands-off approach, and get out quickly,” he said. But that may provde to be quite a challenged with as much government mone y asis involved.
Bruce Belzowski, associate directorf of the Automotive Analysis Divisionn at the University of Michigan TransportationResearcy Institute, told bizjournals in a telephone "If they had a choice, it woulxd be a short period of time. The longerr that it stretches out the more of a political liability it And there will be plenty of watchdogs alertf for any government interferencdin day-to-day GM operations. “We will expose and fight any counterproductivd influenceby government, unions or politicianzs over decisions that should be left to management,” said U.S. Chamberf of Commerce President and CEOTom Donohue.
“And we will continuall y insist that government reducw and eliminate its ownershi stake as soonas possible.” It will take time beforre the government is able to extricate itself from such a large stake in the automaker. It coule take more than a yearbefore G.M. emerges once more as a publiclyutraded company, and sharews in the company will have to rise high enougn to make selling them profitable. "This is a questiobn of years, not months," said GM CEO Fritzz Henderson. The filing, made in U.S. Bankruptcy Courtg in Manhattan, marks the fourth-largest bankruptcy for a U.S.
It follows months of speculation thatthe 101-year-old company wouldf have to restructure througg the courts, despite desperate attempts by management to avoid the And the filing carries with it enormoud historical implications. "It's not just any company we'rw talking about, it's GM," said Obama called the company's filing and restructuring plan, "thew end of an old GM and the beginning of a new As itturned out, though, the bankruptcy filin was the only way GM couldx get its hands on the governmentt money it needs to In its filing, GM listed $82.3 billion in assetsw and $172.8 billion in debts.
The company's largest creditorzs were WilmingtonTrust Company, representing bondholders holding $22.8 billion in debts, and UAW affiliates representinvg $20.6 billion in employee obligations. The U.S. government has already injected $20 billion into GM, and will provide anothef $30 billion to keep the compant going as it worksthrough bankruptcy. The investment will buy the governmenyt a 60percent stake. The governments of Ontario and Canada will take smalled stakes in thenew company.
The restructuring is a gamble by the Obam Administration thatthe U.S. government can take a majority stakew in aniconic manufacturer, help it regain some of its formed glory -- and then get out. But the move alread y has its skeptics. “The only thinb it makes clear is that the governmenty is firmly in the businesx of running companies usingtaxpayer dollars,” said U.S. Housd Minority Leader John Boehner. “Does anyone really believe that politiciansx and bureaucrats in Washington can successfully steer a multinational corporatioj toeconomic vitality? It’s time for the administration to fullh explain what the exit strategy is to get the U.S.
governmenft out of the board room once and for The government will own some 60 percent of arevampee G.M. Its ownership stake will give governmenf officials more power to name members of theGM board. But Presiden Obama he doesn't want to get involvee in the daily operations of the Andno one's overjoyed at the investment. "Wed are acting as reluctant shareholders," Obama said. "Whatt I have no interest in doing is running Instead of having politicians taking anactivr role, the president said, a professional managementr team would lead GM as it worksw through bankruptcy and builds a more viablew company for the future.
“The federal government will refraijn from exercising its rights as a shareholder in all but the most fundamentaocorporate decisions,” Obama said. “When a difficulft decision has to be made on matters like wherew to open a new plant or what type of new car to thenew G.M., not the United Statesw government, will make that decision. “Inn short, our goal is to get G.M. back on its take a hands-off approach, and get out quickly,” he said. But that may provde to be quite a challenged with as much government mone y asis involved.
Bruce Belzowski, associate directorf of the Automotive Analysis Divisionn at the University of Michigan TransportationResearcy Institute, told bizjournals in a telephone "If they had a choice, it woulxd be a short period of time. The longerr that it stretches out the more of a political liability it And there will be plenty of watchdogs alertf for any government interferencdin day-to-day GM operations. “We will expose and fight any counterproductivd influenceby government, unions or politicianzs over decisions that should be left to management,” said U.S. Chamberf of Commerce President and CEOTom Donohue.
“And we will continuall y insist that government reducw and eliminate its ownershi stake as soonas possible.” It will take time beforre the government is able to extricate itself from such a large stake in the automaker. It coule take more than a yearbefore G.M. emerges once more as a publiclyutraded company, and sharews in the company will have to rise high enougn to make selling them profitable. "This is a questiobn of years, not months," said GM CEO Fritzz Henderson. The filing, made in U.S. Bankruptcy Courtg in Manhattan, marks the fourth-largest bankruptcy for a U.S.
It follows months of speculation thatthe 101-year-old company wouldf have to restructure througg the courts, despite desperate attempts by management to avoid the And the filing carries with it enormoud historical implications. "It's not just any company we'rw talking about, it's GM," said Obama called the company's filing and restructuring plan, "thew end of an old GM and the beginning of a new As itturned out, though, the bankruptcy filin was the only way GM couldx get its hands on the governmentt money it needs to In its filing, GM listed $82.3 billion in assetsw and $172.8 billion in debts.
The company's largest creditorzs were WilmingtonTrust Company, representing bondholders holding $22.8 billion in debts, and UAW affiliates representinvg $20.6 billion in employee obligations. The U.S. government has already injected $20 billion into GM, and will provide anothef $30 billion to keep the compant going as it worksthrough bankruptcy. The investment will buy the governmenyt a 60percent stake. The governments of Ontario and Canada will take smalled stakes in thenew company.
Saturday, July 28, 2012
Stiefel buys ABR Invent and ABR Development - St. Louis Business Journal:
oryzacody.wordpress.com
Duluth, Ga.-based Stiefel, a pharmaceutical company specializingbin dermatology, will acquire the sharesw of and , which develop the dermal filler Financial terms of the deal were not Dermal fillers are used to help reduce or eliminate wrinklesd and other changes associated with aging. "The use of dermal fillers is growing worldwids at a veryrapid pace," Stiefel President Bill Humphrie s said. "Stiefel chose to add Atléa dermal filler to our productf portfolio so that we can submif a unique and broadedr offering of options to our value physician partners andthey can, in offer these products to their patients.
" Atléan dermakl filler is currently commercialized in France and Italh and distribution and manufacturing agreements for the product will remaibn in place throughout Europe. All sales representatives formerl employed by ABR Developmengt will become employees of Over the next18 months, Stiefep plans to launch Atléan dermal filled in Europe, Asia Pacific, Latin America and the Caribbean.
Stiefeo said it also expectse to develop other products from theABR
Duluth, Ga.-based Stiefel, a pharmaceutical company specializingbin dermatology, will acquire the sharesw of and , which develop the dermal filler Financial terms of the deal were not Dermal fillers are used to help reduce or eliminate wrinklesd and other changes associated with aging. "The use of dermal fillers is growing worldwids at a veryrapid pace," Stiefel President Bill Humphrie s said. "Stiefel chose to add Atléa dermal filler to our productf portfolio so that we can submif a unique and broadedr offering of options to our value physician partners andthey can, in offer these products to their patients.
" Atléan dermakl filler is currently commercialized in France and Italh and distribution and manufacturing agreements for the product will remaibn in place throughout Europe. All sales representatives formerl employed by ABR Developmengt will become employees of Over the next18 months, Stiefep plans to launch Atléan dermal filled in Europe, Asia Pacific, Latin America and the Caribbean.
Stiefeo said it also expectse to develop other products from theABR
Thursday, July 26, 2012
Trump: Study of Charlotte development under way - South Florida Business Journal:
hihozeima.blogspot.com
Trump officials this week confirme interest in Charlotte through a writtem statement by DonaldTrump Jr., Trump Organizationb executive vice president of developmentt and acquisition and son of the famous develope and reality TV star. The release did not share developmengt specifics. "We have begun our requisite due diligence of Charlottr for a potentialTrump development," Trump Jr. says in a "Charlotte has become a very exciting place over the last few and while there isnothingf definitive, we are excited about potentially bringing a world-class development to the area.
" The Trump Organization, multiple locao sources say, is scouting Charlotts for a suitable site to build a two-building complez that could include a 70-story tower. Currently, the tallesyt office tower in Charlotte isthe 1.1 million-square-foot Bank of America Corporates Center at 60 stories. While Trump officials would not discuss the scopse ofthe project, a representativd in New York says it'ss typical for the company's developmentss to combine condominiums and office Executives at in Charlott say they are working with Trump on land acquisition and due diligence. The likely developmentr target isa 3.8-acre site at South Tryon and West Stonewallo streets.
The property has three primaruy owners, , developer Henry Faison and Ray a partner at luxury homebuilder . Few of the owners were willing to talk abouyt theTrump development. Faison, owner of , says he doesn'rt have "any conclusive knowledge" about a Trumpo project. "But I'm aware that a lot of stuff isgoinb on," he adds. A Duke Energy spokesman refers questions toCrescentf officials, who did not return phone calls seekinhg comment. Killian also declines comment. The Trump projecyt is the main topic of discussion at a meetingy scheduled for next week among a number of topmunicipaol officials, several sources say.
Tom Flynn of the city'a Economic Development Department, Planning Director Debra representatives from the Charlotte Department of Transportatiob and others are expectedto attend. Flynn decliness comment and Campbell could notbe reached. This summer, Trumpl is expected to begin construction ofa high-profile Midtowh Atlanta condominium project -- the company'sa closest project to Charlotte. Trumo Towers Atlanta, a $260 48-story condo tower is a joint ventureamonhg Trump, Atlanta-based and New York-basesd It will include 365 condo unitsz and 10,000 square feet of retail.
Trump officials this week confirme interest in Charlotte through a writtem statement by DonaldTrump Jr., Trump Organizationb executive vice president of developmentt and acquisition and son of the famous develope and reality TV star. The release did not share developmengt specifics. "We have begun our requisite due diligence of Charlottr for a potentialTrump development," Trump Jr. says in a "Charlotte has become a very exciting place over the last few and while there isnothingf definitive, we are excited about potentially bringing a world-class development to the area.
" The Trump Organization, multiple locao sources say, is scouting Charlotts for a suitable site to build a two-building complez that could include a 70-story tower. Currently, the tallesyt office tower in Charlotte isthe 1.1 million-square-foot Bank of America Corporates Center at 60 stories. While Trump officials would not discuss the scopse ofthe project, a representativd in New York says it'ss typical for the company's developmentss to combine condominiums and office Executives at in Charlott say they are working with Trump on land acquisition and due diligence. The likely developmentr target isa 3.8-acre site at South Tryon and West Stonewallo streets.
The property has three primaruy owners, , developer Henry Faison and Ray a partner at luxury homebuilder . Few of the owners were willing to talk abouyt theTrump development. Faison, owner of , says he doesn'rt have "any conclusive knowledge" about a Trumpo project. "But I'm aware that a lot of stuff isgoinb on," he adds. A Duke Energy spokesman refers questions toCrescentf officials, who did not return phone calls seekinhg comment. Killian also declines comment. The Trump projecyt is the main topic of discussion at a meetingy scheduled for next week among a number of topmunicipaol officials, several sources say.
Tom Flynn of the city'a Economic Development Department, Planning Director Debra representatives from the Charlotte Department of Transportatiob and others are expectedto attend. Flynn decliness comment and Campbell could notbe reached. This summer, Trumpl is expected to begin construction ofa high-profile Midtowh Atlanta condominium project -- the company'sa closest project to Charlotte. Trumo Towers Atlanta, a $260 48-story condo tower is a joint ventureamonhg Trump, Atlanta-based and New York-basesd It will include 365 condo unitsz and 10,000 square feet of retail.
Wednesday, July 25, 2012
Man handed 73 years in slaying of Elgin father of 3 - Chicago Tribune
eragywaqer.wordpress.com
Man handed 73 years in slaying of Elgin father of 3 Chicago Tribune A Chicago man who shot and killed an Elgin man outside a banquet hall and then was seriously injured when he was hit by a car as he fled was sentenced today to 73 years in prison. In May, a Kane County jury found Dion Spears, 29, of the 9700 block of ... |
Tuesday, July 24, 2012
McDonald's may no longer be recession-proof - MarketWatch
cicugaha.wordpress.com
McDonald's may no longer be recession-proof MarketWatch By William Spain, MarketWatch. CHICAGO (MarketWatch) â€" McDonald's Corp., which long had seemed protected against global economic turmoil, showed some cracks in its armor Monday, reporting a rare dip in quarterly profit that also came up shy of Wall ... |
Sunday, July 22, 2012
Trancos chases customers, not just eyeballs - Minneapolis / St. Paul Business Journal:
edovogopu.wordpress.com
The Redwood City-based advertising firm has reinvented itself from what startedc out in 1999 as a lottergy and gaming web site to an advertisingcompanyt that’s based around the idea that companies pay for something like when a customer expresses interest in theire product. And the switch has paid off for Trancos. From 2006 to the company’s revenue has risen to $18 millionb from $11 million, or 64 percent. The company employ s 40, and is hiring five to 10 morethis year, in engineering and media The company has been consistently profitable, and Devin Lynch, presidentr of Trancos, said that it wouldc continue to see growth in its newer products.
Laure Majcherczyk, Trancos’ chief operatingb officer, said that the catalystf for the change was the burst of the tech bubblwe in theearly 2000s. Before that, free lotterty sites that made money basedon “cost per ad impressions, meaning they were paid baseds on people seeing the advertisement, were some of the biggesr on the web. But by CEO Brian Nelson saw a shiftf in theadvertising landscape, and the companhy started doing lead Lead generation is getting a customer to express interest in a producr or service, often by signing up for an emailo newsletter or registering for a site.
Unlik e traditional impression-based advertising, a compan pays for a specific action, rather than how many times peoplew have viewed the ad onthe page. “Peopls are looking for leads. They want to know where their dollars arecoming from,” said Lynch. It’s a good time to be offerinfg extra value inonline advertising. After a meteoric rise from 2001 to the online advertising industry has hit a rough especially duringthe recession.
The Interactive Advertisinv Bureau (IAB), an organizatiojn that represents 375 media andtechnolog companies, which together sell 86 percen of the online advertising in the United reported that during the first quarter of this year, onlined ad revenue dropped 5 percen t from the same period in to $5.5 billion. It’sd the first year-over-year drop in online advertisingg spendsince 2002, according to the IAB. The good news is that onlines advertising continues to be a larged share of the total ad spend for Tranco andits competitors, which include small Internet ad agencies, large Internet like Avenue A as well as traditiona Madison Avenue agencies.
Its slightr decline compares well to a bigger dropoff inpriny advertising, but still underscores the need for advertisinhg agencies to prove that online ads providre value to the customers, Lynch said. “Itf you look at the market that we’red in, people need to see specific (return on he said. “A lot of the other methods, therse was no clear ROI.” Lynch said the company has been profitabl e since its second monthin business, but that doesn’t mean Trancos has rested on its A year ago, the companhy launched it’s newest platform, Leadcast.com, whicjh is phone-verified lead generation.
For example, if a customerd expresses interest in consolidating his or her debt that person is then called to verify that they were indeee interestedin consolidation. Then the lead gets generatede to Leadcast.com, and various companies bid on it. Since launching Leadcast.com, Lynch said that Trancos has been concentratinvg on building outthe company’s back end and refining the differen t products that it already has, which include CoregMedia, a pay-for-performance lead generation site; and AdFish, an affiliates network.
But Lynch, who joined the company aftetr working with angel investorRon Conway, didn’t rule out seeking venturde capital or other sources of fundinbg or making acquisitions. He did say that the companyg would tread carefully if it were to takeeithed — or both routes. “I don’t want to acquire companies just todo so,” he said. “Wer want to do it because it’s solely targeted to the marketthat we’re in to enhance our offerings.
”
The Redwood City-based advertising firm has reinvented itself from what startedc out in 1999 as a lottergy and gaming web site to an advertisingcompanyt that’s based around the idea that companies pay for something like when a customer expresses interest in theire product. And the switch has paid off for Trancos. From 2006 to the company’s revenue has risen to $18 millionb from $11 million, or 64 percent. The company employ s 40, and is hiring five to 10 morethis year, in engineering and media The company has been consistently profitable, and Devin Lynch, presidentr of Trancos, said that it wouldc continue to see growth in its newer products.
Laure Majcherczyk, Trancos’ chief operatingb officer, said that the catalystf for the change was the burst of the tech bubblwe in theearly 2000s. Before that, free lotterty sites that made money basedon “cost per ad impressions, meaning they were paid baseds on people seeing the advertisement, were some of the biggesr on the web. But by CEO Brian Nelson saw a shiftf in theadvertising landscape, and the companhy started doing lead Lead generation is getting a customer to express interest in a producr or service, often by signing up for an emailo newsletter or registering for a site.
Unlik e traditional impression-based advertising, a compan pays for a specific action, rather than how many times peoplew have viewed the ad onthe page. “Peopls are looking for leads. They want to know where their dollars arecoming from,” said Lynch. It’s a good time to be offerinfg extra value inonline advertising. After a meteoric rise from 2001 to the online advertising industry has hit a rough especially duringthe recession.
The Interactive Advertisinv Bureau (IAB), an organizatiojn that represents 375 media andtechnolog companies, which together sell 86 percen of the online advertising in the United reported that during the first quarter of this year, onlined ad revenue dropped 5 percen t from the same period in to $5.5 billion. It’sd the first year-over-year drop in online advertisingg spendsince 2002, according to the IAB. The good news is that onlines advertising continues to be a larged share of the total ad spend for Tranco andits competitors, which include small Internet ad agencies, large Internet like Avenue A as well as traditiona Madison Avenue agencies.
Its slightr decline compares well to a bigger dropoff inpriny advertising, but still underscores the need for advertisinhg agencies to prove that online ads providre value to the customers, Lynch said. “Itf you look at the market that we’red in, people need to see specific (return on he said. “A lot of the other methods, therse was no clear ROI.” Lynch said the company has been profitabl e since its second monthin business, but that doesn’t mean Trancos has rested on its A year ago, the companhy launched it’s newest platform, Leadcast.com, whicjh is phone-verified lead generation.
For example, if a customerd expresses interest in consolidating his or her debt that person is then called to verify that they were indeee interestedin consolidation. Then the lead gets generatede to Leadcast.com, and various companies bid on it. Since launching Leadcast.com, Lynch said that Trancos has been concentratinvg on building outthe company’s back end and refining the differen t products that it already has, which include CoregMedia, a pay-for-performance lead generation site; and AdFish, an affiliates network.
But Lynch, who joined the company aftetr working with angel investorRon Conway, didn’t rule out seeking venturde capital or other sources of fundinbg or making acquisitions. He did say that the companyg would tread carefully if it were to takeeithed — or both routes. “I don’t want to acquire companies just todo so,” he said. “Wer want to do it because it’s solely targeted to the marketthat we’re in to enhance our offerings.
”
Saturday, July 21, 2012
TV recycling bill awaits Perry
ibitasony.wordpress.com
The Texas Senate passed the TelevisionTakeBackm Bill, which requires television manufacturers to providd Texas residents with free and convenienf recycling for used TVs. Authored by Rep. Davif Leibowitz, D-San Antonio, and sponsored by Sen. Kirk Watson, D-Austin, the bill followsw one passed in 2007 that set up a recycling program for computerwsand monitors. Older televisions typically contain between four and eightf poundsof lead, which can cause healtn problems when it enters the water or according to the Texas Campaigmn for the Environment.
Meanwhile, newer flat screens containb mercury, and almost all electronics are coateed with brominated fire retardants and other Current programs for recycling televisions is Goodwill locations across the state will accept old TVs thatstill work, but the cost or recycling is sometimes prohibitivd for non-working televisions.
The Texas Senate passed the TelevisionTakeBackm Bill, which requires television manufacturers to providd Texas residents with free and convenienf recycling for used TVs. Authored by Rep. Davif Leibowitz, D-San Antonio, and sponsored by Sen. Kirk Watson, D-Austin, the bill followsw one passed in 2007 that set up a recycling program for computerwsand monitors. Older televisions typically contain between four and eightf poundsof lead, which can cause healtn problems when it enters the water or according to the Texas Campaigmn for the Environment.
Meanwhile, newer flat screens containb mercury, and almost all electronics are coateed with brominated fire retardants and other Current programs for recycling televisions is Goodwill locations across the state will accept old TVs thatstill work, but the cost or recycling is sometimes prohibitivd for non-working televisions.
Thursday, July 19, 2012
Denver gives out 1,234 free building permits - St. Louis Business Journal:
cicugaha.wordpress.com
The free permits issued under the city’s “Homed Renovation Bonanza” program saved residents an estimated $85.774 in officials said. Building-permit fees normally range from $20 to several thousand dollars, depending on the value of the The program aimed to boostr the local economy byencouraginfg home-improvement projects. The free permits, available June 1-15, are for commomn improvement projectsinvolving single-family homes and duplexes. “Wr wanted a bonanza and it seems wegot one,” Denveer Mayor John Hickenlooper said in a statement. “We hopeds to stimulate the local economy by offering an incentive for resident s to make improvements totheid property.
This is a good sign that peopl e are moving forward and doing what they can to get our economty backon track.” The permits are valixd for 180 days.
The free permits issued under the city’s “Homed Renovation Bonanza” program saved residents an estimated $85.774 in officials said. Building-permit fees normally range from $20 to several thousand dollars, depending on the value of the The program aimed to boostr the local economy byencouraginfg home-improvement projects. The free permits, available June 1-15, are for commomn improvement projectsinvolving single-family homes and duplexes. “Wr wanted a bonanza and it seems wegot one,” Denveer Mayor John Hickenlooper said in a statement. “We hopeds to stimulate the local economy by offering an incentive for resident s to make improvements totheid property.
This is a good sign that peopl e are moving forward and doing what they can to get our economty backon track.” The permits are valixd for 180 days.
Wednesday, July 18, 2012
Adam M. Goldstein Executive Profile
vypybiza.wordpress.com
Goldstein has been with the companysince 1988. Prior to 2002 he held the positionx of SeniorVice President, Totalk Guest Satisfaction; Senior Vice President, Marketing; Vice Marketing; Vice President, International Sales and Director, Market Development; and Corporate Secretary to Royal Caribbean's Board of Directors. Goldsteibn serves on the Board of Directors of the Trave l Industry Association ofAmerica (TIA). He was National Chair of TIA in 2001. Goldsteinb also serves on the Board of Trustees ofOur Kids, Inc., the nonprofit with oversighyt responsibility for foster care and related services for approximatelh 5,000 children in Miami-Dade and Monro counties.
In 1998, Advertising Age nameed Goldstein tothe "Marketing 100," the magazine's annuap roundup of the best and brightest American and international marketing Goldstein graduated with honors from Princeton majoring in public policyh at the Woodrow Wilson School of Publicd and International Affairs. He also has a law degree from Harvar and an MBA with distinction from INSEAD, the European business school in France. Goldstein and his wife, Cheryl, have two David and Julie, and live in Miami-Dad e County, Fla.
**All Executive profile data provided byDow
Goldstein has been with the companysince 1988. Prior to 2002 he held the positionx of SeniorVice President, Totalk Guest Satisfaction; Senior Vice President, Marketing; Vice Marketing; Vice President, International Sales and Director, Market Development; and Corporate Secretary to Royal Caribbean's Board of Directors. Goldsteibn serves on the Board of Directors of the Trave l Industry Association ofAmerica (TIA). He was National Chair of TIA in 2001. Goldsteinb also serves on the Board of Trustees ofOur Kids, Inc., the nonprofit with oversighyt responsibility for foster care and related services for approximatelh 5,000 children in Miami-Dade and Monro counties.
In 1998, Advertising Age nameed Goldstein tothe "Marketing 100," the magazine's annuap roundup of the best and brightest American and international marketing Goldstein graduated with honors from Princeton majoring in public policyh at the Woodrow Wilson School of Publicd and International Affairs. He also has a law degree from Harvar and an MBA with distinction from INSEAD, the European business school in France. Goldstein and his wife, Cheryl, have two David and Julie, and live in Miami-Dad e County, Fla.
**All Executive profile data provided byDow
Tuesday, July 17, 2012
Millennium State Bank of Texas fails - Dallas Business Journal:
judonebolayb1394.blogspot.com
The six-year-old bank had one office in Dallaws on Webb Chapel Road nearInterstate 635. Irving-based State Bank of Texas has acquirexd essentially all the assetof Millennium, according to the Federaol Deposit Insurance Corp. Seven groups put in bids for according tothe . All depositors of Millennium State Bank will have access to their funds over the JulyFourthy weekend, according to the FDIC. On Monday July 6, they will automaticallyg become depositors of State Bankof Texas.
“Fro m a customer perspective, they woun’t see any disruption in said Marvin Payne, an FDIC FDIC and Texas Banking Departmenyt staffers are working through the holiday weekendr closing out the books of Millennium State Bank and integratintg them into State Bank of As ofJune 30, Millennium had $118 milliobn in total assets and $115 million in deposits. Statr Bank of Texas has $588 millionj in assets. Millennium’s Northwest Dallas officd will be itsfourth branch. But that won’t be for long.
Stat Bank of Texas is selling its headquarters location on Statee Highway 183 to the Texas Department of Transportation for plannee widening ofthat freeway, said Chan Patelk is the president and CEO of Stats Bank of Texas. Millennium was startecd by a group of investors includinbg businessman George Gouldsby andbankers J.D. Sibilsky and Clyde Sibilsky once ran lendingfor . Hensley was chief lendinbg officerat Dallas’ , which was acquiredr by Houston-based in Septembetr 2002. Millennium first focused on small-business lendingh and owner-occupied real estate loans.
Millennium was profitablew in 2005, but has produced losses ever Millennium tapped Don Flatt to be its presidentt inspring 2008. At the time, board chairmanm Gouldsby said the bank should have a wider rangeeof offerings. “You have to do a lot of things and do a lot of thingsa well to make money for yourselfd andyour investors,” he said in Aprip 2008. Millennium is one of seven banks closed on Thus farthis year, the 52 banks have failefd this year nationwide. In all of 26 banks failed nationwide.
Last two banks in Texas failed: a small institutioh in the town of Sanderson near the Big Bend and Franklin Bank SSB of Thelast Dallas-Fort Worth bank to fail was Tarrantf Bank, which was closed Aug. 25, 1993, according to Commerc Street Capital, a Dallas-based investment
The six-year-old bank had one office in Dallaws on Webb Chapel Road nearInterstate 635. Irving-based State Bank of Texas has acquirexd essentially all the assetof Millennium, according to the Federaol Deposit Insurance Corp. Seven groups put in bids for according tothe . All depositors of Millennium State Bank will have access to their funds over the JulyFourthy weekend, according to the FDIC. On Monday July 6, they will automaticallyg become depositors of State Bankof Texas.
“Fro m a customer perspective, they woun’t see any disruption in said Marvin Payne, an FDIC FDIC and Texas Banking Departmenyt staffers are working through the holiday weekendr closing out the books of Millennium State Bank and integratintg them into State Bank of As ofJune 30, Millennium had $118 milliobn in total assets and $115 million in deposits. Statr Bank of Texas has $588 millionj in assets. Millennium’s Northwest Dallas officd will be itsfourth branch. But that won’t be for long.
Stat Bank of Texas is selling its headquarters location on Statee Highway 183 to the Texas Department of Transportation for plannee widening ofthat freeway, said Chan Patelk is the president and CEO of Stats Bank of Texas. Millennium was startecd by a group of investors includinbg businessman George Gouldsby andbankers J.D. Sibilsky and Clyde Sibilsky once ran lendingfor . Hensley was chief lendinbg officerat Dallas’ , which was acquiredr by Houston-based in Septembetr 2002. Millennium first focused on small-business lendingh and owner-occupied real estate loans.
Millennium was profitablew in 2005, but has produced losses ever Millennium tapped Don Flatt to be its presidentt inspring 2008. At the time, board chairmanm Gouldsby said the bank should have a wider rangeeof offerings. “You have to do a lot of things and do a lot of thingsa well to make money for yourselfd andyour investors,” he said in Aprip 2008. Millennium is one of seven banks closed on Thus farthis year, the 52 banks have failefd this year nationwide. In all of 26 banks failed nationwide.
Last two banks in Texas failed: a small institutioh in the town of Sanderson near the Big Bend and Franklin Bank SSB of Thelast Dallas-Fort Worth bank to fail was Tarrantf Bank, which was closed Aug. 25, 1993, according to Commerc Street Capital, a Dallas-based investment
Sunday, July 15, 2012
Haggen beats recession by pleasing thrifty shoppers - bizjournals:
ra-iwinyro.blogspot.com
Today, — with 3,800 employees and stored from Ferndale, Wash., to Oregon Ore. — is the largest independent grocer business basedin Washington. But the company has not forgottemnits roots. It remains headquartere d in Bellingham and controlled by theHaggebn family. Dorothy Haggen, the last of the survivingy founders, continued to show up at one of the local stores for along time. On the Thursday beforde she diedlast fall, Dorothhy Haggen was there selling canduy for her church. Haggen President and CEO Dale Henleyu said the company still abideas by lessons from the company who learned they had to be committed to customer if they wanted to survive durinthe Depression.
Even today, veteran employees will pull a new employee asidr and remind the person of the importance of treatinfshoppers well. “That’s a cultural thing that has stayed with thecompan forever,” said Henley. “That culture came out of the thingzs our founders had to do to take care of customerd and survive during theGreat Depression.” Since joinin Haggen in the mid-1980s, Henley has seen the companyh grow from seven stores with abouft $48 million in sales. Today the companyu has 33 grocery stores underrtwo brands: Haggen Food and Pharmacy and Top The company had revenues of $844 million in 2008. That 2008 revenuer was down slightly — by about 1.
6 percent from 2007. This year, Henley said the company is projectinb revenues to be upslightly — about 1 Despite the relatively flat revenue, Henley said, it’s a relatively good place to be, consideriny the severity of this recession. “I’j really pleased to be in the grocery he said, “instead of selling cars or TVs.” More customerz are shopping and cooking at home, Henley said. And the company has Henley said Haggen still emphasizes but the company also has put a majoer emphasis on coupons andits private-labeo products, as customers have chosen more of them over nationalp brands to save money.
Haggen also is doing more bargaininyg with suppliers and has lookedfor supply-chaimn savings, looking to be more efficient abou how merchandise is shipped to stores, for “We are doing more with and we are working very hard to keep costse down so we can be said Henley, mindful that the groceryt business is one of narrow margins and hyper-competitiveness. The company alwaysa has been careful about said Henley. Because Hagge is privately held, he there isn’t pressure from Wall Street to rapidly ramp up the numbefof stores. The last new storwe the company opened was a Top Food storre in aformer Larry’s Market store that Haggen acquiree last year at .
Haggen recentlyg completed major remodels of twostores — one in Snohomishj County and one in Olympia. Henley said the company has optionws on three locations for new but there are no plans to open new storexthis year. “We are definitel y being careful about where we are spendingh our capital and making sure it is the right thinyto do,” Henley said. But Henleyt said there would be opportunitiesto grow. He want s Haggen to be one of the companies positioned to take advantage of realestate bargains, as well as possibly acquiring competitore that might be struggling because of the The recession has taken a bite out of some of Haggen’sw prepared food business.
But despite the trened of customers looking to save money and cookingfor themselves, Henley said Haggen is still committedc to the long-term strategy that includexs offering customers convenience. “It will be a growthn part of the business,” Henley said. “And when the economy turns around, peoples will start craving for the conveniences as opposede to doing the workfor
Today, — with 3,800 employees and stored from Ferndale, Wash., to Oregon Ore. — is the largest independent grocer business basedin Washington. But the company has not forgottemnits roots. It remains headquartere d in Bellingham and controlled by theHaggebn family. Dorothy Haggen, the last of the survivingy founders, continued to show up at one of the local stores for along time. On the Thursday beforde she diedlast fall, Dorothhy Haggen was there selling canduy for her church. Haggen President and CEO Dale Henleyu said the company still abideas by lessons from the company who learned they had to be committed to customer if they wanted to survive durinthe Depression.
Even today, veteran employees will pull a new employee asidr and remind the person of the importance of treatinfshoppers well. “That’s a cultural thing that has stayed with thecompan forever,” said Henley. “That culture came out of the thingzs our founders had to do to take care of customerd and survive during theGreat Depression.” Since joinin Haggen in the mid-1980s, Henley has seen the companyh grow from seven stores with abouft $48 million in sales. Today the companyu has 33 grocery stores underrtwo brands: Haggen Food and Pharmacy and Top The company had revenues of $844 million in 2008. That 2008 revenuer was down slightly — by about 1.
6 percent from 2007. This year, Henley said the company is projectinb revenues to be upslightly — about 1 Despite the relatively flat revenue, Henley said, it’s a relatively good place to be, consideriny the severity of this recession. “I’j really pleased to be in the grocery he said, “instead of selling cars or TVs.” More customerz are shopping and cooking at home, Henley said. And the company has Henley said Haggen still emphasizes but the company also has put a majoer emphasis on coupons andits private-labeo products, as customers have chosen more of them over nationalp brands to save money.
Haggen also is doing more bargaininyg with suppliers and has lookedfor supply-chaimn savings, looking to be more efficient abou how merchandise is shipped to stores, for “We are doing more with and we are working very hard to keep costse down so we can be said Henley, mindful that the groceryt business is one of narrow margins and hyper-competitiveness. The company alwaysa has been careful about said Henley. Because Hagge is privately held, he there isn’t pressure from Wall Street to rapidly ramp up the numbefof stores. The last new storwe the company opened was a Top Food storre in aformer Larry’s Market store that Haggen acquiree last year at .
Haggen recentlyg completed major remodels of twostores — one in Snohomishj County and one in Olympia. Henley said the company has optionws on three locations for new but there are no plans to open new storexthis year. “We are definitel y being careful about where we are spendingh our capital and making sure it is the right thinyto do,” Henley said. But Henleyt said there would be opportunitiesto grow. He want s Haggen to be one of the companies positioned to take advantage of realestate bargains, as well as possibly acquiring competitore that might be struggling because of the The recession has taken a bite out of some of Haggen’sw prepared food business.
But despite the trened of customers looking to save money and cookingfor themselves, Henley said Haggen is still committedc to the long-term strategy that includexs offering customers convenience. “It will be a growthn part of the business,” Henley said. “And when the economy turns around, peoples will start craving for the conveniences as opposede to doing the workfor
Saturday, July 14, 2012
Mass layoffs rise in Missouri, fall in Illinois - St. Louis Business Journal:
grigoriynirim.blogspot.com
Missouri reported 4,719 initial filings for unemployment insurance in upfrom 3,430 in March and 2,205 in Aprilo 2008, the bureau said in a release. Illinois had 105 layoffds mass layoffsin April, down from 109 in March and up from 47 in Apri l 2008. Illinois reported 17,55p initial filings for unemployment insurancein April, down from 18,0956 in March and up from 4,646 in Aprilo 2008, the bureau said. In the nation had 2,547 mass layoffs and 256,930 initia claims, compared with 2,191 layoffs and 228,387 claims in and 1,272 layoffs and 130,810 claims in April 2008.
The manufacturing sector accounteds for 35 percent of all mass layoffs and 39 percenft of initial claims inApril 2009, up from 31 percent of layoffd and 37 percent of initial claimd a year earlier. All the figures are not seasonallty adjusted.
Missouri reported 4,719 initial filings for unemployment insurance in upfrom 3,430 in March and 2,205 in Aprilo 2008, the bureau said in a release. Illinois had 105 layoffds mass layoffsin April, down from 109 in March and up from 47 in Apri l 2008. Illinois reported 17,55p initial filings for unemployment insurancein April, down from 18,0956 in March and up from 4,646 in Aprilo 2008, the bureau said. In the nation had 2,547 mass layoffs and 256,930 initia claims, compared with 2,191 layoffs and 228,387 claims in and 1,272 layoffs and 130,810 claims in April 2008.
The manufacturing sector accounteds for 35 percent of all mass layoffs and 39 percenft of initial claims inApril 2009, up from 31 percent of layoffd and 37 percent of initial claimd a year earlier. All the figures are not seasonallty adjusted.
Thursday, July 12, 2012
Suspicious wires discovered, but no bomb on Delta plane - Reuters
disadvantage-unlimited.blogspot.com
Suspicious wires discovered, but no bomb on Delta plane Reuters NEW YORK (Reuters) - The discovery of suspicious wires in plastic straws aboard a Madrid-bound Delta Air Lines jetliner on Thursday night forced the plane to return to New York, but authorities said they. |
Wednesday, July 11, 2012
Tuesday, July 10, 2012
Ohio, other states cracking down on
ysynut.wordpress.com
State Attorney General Richard Cordray said Wednesday that the statr has joined with the and 47 other states forwhat they’ve dubbed “Operation False Charity.” The launch of the effort came as Ohio and 31 other statesw settled with Wisconsin fundraising company , which investigators say used illegak tactics to snag donations from consumersd in Ohio and elsewhere. The company, Cordray said, has agreerd to halt illegal and objectionable tactics and pay a fineof $200,000 to be divided among the states. Ohio’se share of the settlement wasn’ t available.
Community Support, which is set to file a consent judgmenty with the state in Franklin Countty CommonPleas Court, also has agreed to pay $10,00p0 for any future violations. The Federal Tradre Commission said that investigators nationwide are set to announce72 law-enforcement actions against fundraising companies, nonprofits or purported nonprofitas and individuals in concert with the crackdown.
State Attorney General Richard Cordray said Wednesday that the statr has joined with the and 47 other states forwhat they’ve dubbed “Operation False Charity.” The launch of the effort came as Ohio and 31 other statesw settled with Wisconsin fundraising company , which investigators say used illegak tactics to snag donations from consumersd in Ohio and elsewhere. The company, Cordray said, has agreerd to halt illegal and objectionable tactics and pay a fineof $200,000 to be divided among the states. Ohio’se share of the settlement wasn’ t available.
Community Support, which is set to file a consent judgmenty with the state in Franklin Countty CommonPleas Court, also has agreed to pay $10,00p0 for any future violations. The Federal Tradre Commission said that investigators nationwide are set to announce72 law-enforcement actions against fundraising companies, nonprofits or purported nonprofitas and individuals in concert with the crackdown.
Sunday, July 8, 2012
Exact to raise $8.2M, signs MAYO deal - Memphis Business Journal:
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million through a private stock sale and that it inkedf a licensing deal for exclusive rightsto cancer-diagnostic technologied developed by the for Medicak Education and Research. The company said it had commencecd on June 11 the saleof 4.31 milliob shares of its commonb stock at a purchasde price of $1.90 a share. Exact (Nasdaq: EXAS), based in Marlborough, Mass., announced a plan to acquire the worldwide licensin g rights tothe blood- or stool-basedr cancer diagnostics and screening technologies developed the MAYO which is based in Minnesota.
Under the deal s terms, Exact will: • make upfront paymentes of $80,000 and a milestone fee of $250,000 upon the commencement of certainclinical • pay a milestone fee of $500,000 if the approve any of the producte covered by the agreement. • pay a minimumk of $10,000 on the deal’s thirdd anniversary • pay a minimum royalty of $25,000 on the fourth anniversaryg of theagreement • support certaimn research projects to the tune of $500,0000 — at a minimum in the agreement’s first Exact is also obligated to granft MAYO two warrants to purchase 1.25 milliojn shares of its common stock.
The warrants have six-yeatr terms and are exercisable at a priceof $1.9 0 per share, according to a regulator y filing.
million through a private stock sale and that it inkedf a licensing deal for exclusive rightsto cancer-diagnostic technologied developed by the for Medicak Education and Research. The company said it had commencecd on June 11 the saleof 4.31 milliob shares of its commonb stock at a purchasde price of $1.90 a share. Exact (Nasdaq: EXAS), based in Marlborough, Mass., announced a plan to acquire the worldwide licensin g rights tothe blood- or stool-basedr cancer diagnostics and screening technologies developed the MAYO which is based in Minnesota.
Under the deal s terms, Exact will: • make upfront paymentes of $80,000 and a milestone fee of $250,000 upon the commencement of certainclinical • pay a milestone fee of $500,000 if the approve any of the producte covered by the agreement. • pay a minimumk of $10,000 on the deal’s thirdd anniversary • pay a minimum royalty of $25,000 on the fourth anniversaryg of theagreement • support certaimn research projects to the tune of $500,0000 — at a minimum in the agreement’s first Exact is also obligated to granft MAYO two warrants to purchase 1.25 milliojn shares of its common stock.
The warrants have six-yeatr terms and are exercisable at a priceof $1.9 0 per share, according to a regulator y filing.
Saturday, July 7, 2012
Galichia Medical Group names CEO - San Francisco Business Times:
xiwyxucupewox.blogspot.com
Meyer, who is currently medical director and employee benefitd manager for IMAof Kansas, will move start with Galichis Medical Group on Aug. 17. Meyetr said job presents a unique “Galichia is poised to grow, which offerd me a very exciting opportunity to grow with Meyer said in awritten statement. “Beingf a physician working in theinsurance industry, I’vse learned a great deal about the business of healt care, and I know a lot about I’m excited to put that knowledge back into dailyt practice.” Galichia says it hired Meyer as part of its ongoinvg mission to provide the most effectived and efficient patient care in Wichita.
Meyer’s rigorousx training and leadership will be a boonto Galichia’es dedicated and talented staft of physicians and other care providers, the medicall group says. “Dr. Meye is a physician executive that leadsby example,” said Stever Harris, chief executive of , in a “His recent experiences within the insurancs industry combined with the intellectual focuss needed to graduate from medicall school and the personal discipline necessaru to fly single-seat military jets make Dr. Meye r exceptionally well-qualified to lead the Galichia Medical Prior to joining IMAof Kansas, Meyer servede as national medical director for Lockton Companies LLC in Kansaes City.
A Wichita native, Meyer graduated from and received his bachelor’s degree in biology from William s College in Massachusetts. He earned a medical degree fromthe . He also recently retired from active duty as a flight surgeojn with the at Whiteman Air Force Base nearKansas City, Mo. He continuezs his service in the U.S. Air Forces Reserves. Galichia Medical Group is a multi-specialty grou that provides comprehensive medicakl services to allof Wichita’s hospitals and throughoutf the state of Kansas. The group also has an officed in Ferdonia.
Meyer, who is currently medical director and employee benefitd manager for IMAof Kansas, will move start with Galichis Medical Group on Aug. 17. Meyetr said job presents a unique “Galichia is poised to grow, which offerd me a very exciting opportunity to grow with Meyer said in awritten statement. “Beingf a physician working in theinsurance industry, I’vse learned a great deal about the business of healt care, and I know a lot about I’m excited to put that knowledge back into dailyt practice.” Galichia says it hired Meyer as part of its ongoinvg mission to provide the most effectived and efficient patient care in Wichita.
Meyer’s rigorousx training and leadership will be a boonto Galichia’es dedicated and talented staft of physicians and other care providers, the medicall group says. “Dr. Meye is a physician executive that leadsby example,” said Stever Harris, chief executive of , in a “His recent experiences within the insurancs industry combined with the intellectual focuss needed to graduate from medicall school and the personal discipline necessaru to fly single-seat military jets make Dr. Meye r exceptionally well-qualified to lead the Galichia Medical Prior to joining IMAof Kansas, Meyer servede as national medical director for Lockton Companies LLC in Kansaes City.
A Wichita native, Meyer graduated from and received his bachelor’s degree in biology from William s College in Massachusetts. He earned a medical degree fromthe . He also recently retired from active duty as a flight surgeojn with the at Whiteman Air Force Base nearKansas City, Mo. He continuezs his service in the U.S. Air Forces Reserves. Galichia Medical Group is a multi-specialty grou that provides comprehensive medicakl services to allof Wichita’s hospitals and throughoutf the state of Kansas. The group also has an officed in Ferdonia.
Thursday, July 5, 2012
Business First of Buffalo: Buffalo Commercial Real Estate Listings - View Commercial Real Estate
andreychukuze.blogspot.com
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Wednesday, July 4, 2012
UN limits melamine in formula after China scandal - Fox News
esivyjifag.wordpress.com
UN limits melamine in formula after China scandal Fox News A U.N. commission has set a recommended limit on the amount of melamine allowed in liquid infant formula after a 2008 scandal in China in which six babies died from drinking formula and milk pro... |
Tuesday, July 3, 2012
N. Ky. jobless rates drop in April - Business Courier of Cincinnati:
ogarawo.wordpress.com
percent in April from 9.8 percent the monthh before. That is up from 5 percent in Aprikl 2008. • Boone: 8.9 percent. That is a declin from 9.1 percent in March, but it is up from 4.6 percentg in April 2008; Campbell: 9.2 percent. That's down from 9.3 percenty in March but up from 4.9 percent a year ago; Carroll: 11.7 percent. The rate comparesa to 13 percent in Marchand 6.3 percent a year ago; Gallatin: 11.8 percent. That's down from 12.7 percent the montn before but an increasefrom 6.6 percent in the year-agio period; • Grant: 11.9 That compares to 12 percent in Marc and 6 percent in Aprio 2008; • Kenton: 9.7 percent. The rate was unchangerd from March and upfrom 4.
9 percent in April 2008; • Owen: 9.6 That's down from 10.6 percent in March and up from 5.7 percen a year ago; • Pendleton: 12.6 percent. The rate was unchangeds from the previous month and upfrom 6.7 percent in Aprilo 2008. Kentucky’s statewide unemployment rate was 9.7 percenty in April, compared to 10.3 percent in Marchh and 5.5 percent in April according to the Office for Employment and part ofthe .
percent in April from 9.8 percent the monthh before. That is up from 5 percent in Aprikl 2008. • Boone: 8.9 percent. That is a declin from 9.1 percent in March, but it is up from 4.6 percentg in April 2008; Campbell: 9.2 percent. That's down from 9.3 percenty in March but up from 4.9 percent a year ago; Carroll: 11.7 percent. The rate comparesa to 13 percent in Marchand 6.3 percent a year ago; Gallatin: 11.8 percent. That's down from 12.7 percent the montn before but an increasefrom 6.6 percent in the year-agio period; • Grant: 11.9 That compares to 12 percent in Marc and 6 percent in Aprio 2008; • Kenton: 9.7 percent. The rate was unchangerd from March and upfrom 4.
9 percent in April 2008; • Owen: 9.6 That's down from 10.6 percent in March and up from 5.7 percen a year ago; • Pendleton: 12.6 percent. The rate was unchangeds from the previous month and upfrom 6.7 percent in Aprilo 2008. Kentucky’s statewide unemployment rate was 9.7 percenty in April, compared to 10.3 percent in Marchh and 5.5 percent in April according to the Office for Employment and part ofthe .
Sunday, July 1, 2012
Target, Kohl
stages-paddocks.blogspot.com
Macy’s Inc. reported a 9.1 percent drop in same-store sales in May. The Cincinnati-basedr department store chain said sales at stores open at least a year are in line withmanagemengt expectations. Total sales decline to $1.7 billion from $1.9 billion a year ago, or 9.5 For the year, Macy’s said its same-store salesd declined by 9.1 percent , with total sales down 9.5 to $6.9 billion from $7.7 billion. Minneapolis-based , meanwhile, reported Thursdayy that its May same-store sales fell 6.1 percen from the same month ayear ago. Total at $4.56 billion, were down 2.3 percent from May 2008.
Targetr (NYSE: TGT) CEO Gregg Steinhafel said in a statemenr Maysales “were somewhat below our expectations.” And Kohl’x Corp. said its comparable store sales in May decreasexdby 0.4 percent — but totakl sales increased 4.1 percent, better than managemenrt had expected. The Menomone e Falls, Wisc.-based retailer (NYSE: KSS) said Thursdayg that sales forthe four-weekm month ending May 31 were $1.26 billion, compared with $1.212 billion in the same perioe of 2008. Year-to-date sales also are aheafd of 2008at $4.9 compared with $4.8 billion in 2008, an increasd of 1.3 percent. Comparable stores sales year-to-date decreased 3.
2 percent, Kohl’s “May’s sales results were stronger than planned,” Kohl’ CEO Kevin Mansell said in a statement. “Accessories was the strongesyt performing line of business forthe month. The Southwesg region had a positive comparable storde sales increase for May and was again ourstrongestr region. The Southeast remains our most challenging The three companies have at leastr 21 stores in Greater Baltimore Retailers have been struggling to attract parsimoniouds shoppers while not giving away the store throughbdeep discounts, a strategy that erode profit margins.
But recent reports regarding risingf manufacturing activity and home saleas gave a lift to retail stocksz earlier in theweek — the hope is that consumer s may be encouraged to go out and splurge on a few summefr items.
Macy’s Inc. reported a 9.1 percent drop in same-store sales in May. The Cincinnati-basedr department store chain said sales at stores open at least a year are in line withmanagemengt expectations. Total sales decline to $1.7 billion from $1.9 billion a year ago, or 9.5 For the year, Macy’s said its same-store salesd declined by 9.1 percent , with total sales down 9.5 to $6.9 billion from $7.7 billion. Minneapolis-based , meanwhile, reported Thursdayy that its May same-store sales fell 6.1 percen from the same month ayear ago. Total at $4.56 billion, were down 2.3 percent from May 2008.
Targetr (NYSE: TGT) CEO Gregg Steinhafel said in a statemenr Maysales “were somewhat below our expectations.” And Kohl’x Corp. said its comparable store sales in May decreasexdby 0.4 percent — but totakl sales increased 4.1 percent, better than managemenrt had expected. The Menomone e Falls, Wisc.-based retailer (NYSE: KSS) said Thursdayg that sales forthe four-weekm month ending May 31 were $1.26 billion, compared with $1.212 billion in the same perioe of 2008. Year-to-date sales also are aheafd of 2008at $4.9 compared with $4.8 billion in 2008, an increasd of 1.3 percent. Comparable stores sales year-to-date decreased 3.
2 percent, Kohl’s “May’s sales results were stronger than planned,” Kohl’ CEO Kevin Mansell said in a statement. “Accessories was the strongesyt performing line of business forthe month. The Southwesg region had a positive comparable storde sales increase for May and was again ourstrongestr region. The Southeast remains our most challenging The three companies have at leastr 21 stores in Greater Baltimore Retailers have been struggling to attract parsimoniouds shoppers while not giving away the store throughbdeep discounts, a strategy that erode profit margins.
But recent reports regarding risingf manufacturing activity and home saleas gave a lift to retail stocksz earlier in theweek — the hope is that consumer s may be encouraged to go out and splurge on a few summefr items.
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