Thursday, May 31, 2012

Board Toughens Horse-Security and Drug Measures at Belmont - New York Times

houston-nearly.blogspot.com


Sportsnet.ca


Board Toughens Horse-Security and Drug Measures at Belmont

New York Times


“Millions of race fans from around the world will be witnessing a historic spectacle at New York's beautiful Belmont Park on June 9, and the Racing and Wagering Board will ensure that the race is run in a safe and fair manner,” John D. Sabini, ...


Racing and Wagering Board issues new rules for horses, trainers participating ...

The Saratogian


Additional Wagering Board Protocols Welcome and Timely

HorseRaceInsider.com


Belmont Stakes Horses Face Stringent Rules to Prevent Tampering

Bloomberg


New York Post


 »

Tuesday, May 29, 2012

Tech Decisions Magazine and CastleBay Consulting Release Shop Talk, a Best ... - MarketWatch (press release)

younkinesagugad1746.blogspot.com


Tech Decisions Magazine and CastleBay Consulting Release Shop Talk, a Best ...

MarketWatch (press release)


ERLANGER, Ky., May 29, 2012 (GlobeNewswire via COMTEX) -- Tech Decisions magazine, a Summit Business Media publication has partnered with CastleBay Consulting to develop Shop Talk, an insightful best practices book for the property & casualty industry.



and more »

Monday, May 28, 2012

Grant to fund new NCSU master

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million grant funding the creation ofa trans-Atlantidc master’s degree program in forest resource management. Alont with NCSU, the other schools participatinyg inthe two-year program are , the and the . The grantt is jointly funded bythe U.S. Department of Education's Fund for the Improvement of Postsecondarh Education and theEuropean Union's Europeamn Commission, Education, Audiovisual and Culturse Executive Agency, NCSU said in a writtenb statement. Four to five students from each universitt will be selected to participateeeach year, from fall 2009 through spring 2012. Students will spend a total of one year at eitherf NCSUor MTU, and one semester at both SLU and UH.
All students will meet the requirementsfor master'z degrees from one university in the United States and one in Europew and receive degrees from both universities. "We hope graduates of this dual-degree program will have an international perspective on forest managementr that will allow for innovativer solutions for globalforestry issues," Bronson Bullock, an NCSU forestry associate said in the written

Saturday, May 26, 2012

HHGregg Inc. planning major expansion in region starting next year - Nashville Business Journal:

showarticle-cultura.blogspot.com
The Indianapolis-based company plans to open 40 to 45 new storess infiscal 2011, mainly in Washington, D.C., and Philadelphia. The retailer’s fiscal 2011 runs from March 2010 toMarc 2011. The expansion will be HHGregg’s (NYSE: HGG) initialp foray into the mid-Atlantic and will follow onetime electronicds giantCircuit City’s exit from the marketg following bankruptcy. The new stores are part of an aggressivr growth strategy aimed at taking advantage of chealp rental rates and excess real estate President Dennis May said ina statement. The compant also plans to open a distribution centerf inthe mid-Atlantic region.
The average HHGregyg store is 30,000 square feet and employs 40 The company said it has begun to executde leases on thefuturd stores, but a spokeswomam declined Wednesday to disclose any specifix locations for the stores or the distributiomn center. HHGregg currently operates 111 storesin Florida, Georgia, Indiana, Kentucky, Northg Carolina, Ohio, South Carolinw and Tennessee. In fiscal year 2009, the company posteds sales of $1.4 billion and a profit of $36.
5

Friday, May 25, 2012

Banking on talent - Nashville Business Journal:

grihanovveimavox.blogspot.com
“In one year, a songwriter can go from makinbg $18,000 and waiting tables to makinbg $150,000,” says Lisa Harless, senior vice presidentg of ’s entertainment and sports division. “It’s amazingg to see how quickl their banking needs amplify along with the need to managethose That’s the risk — and reward — of bankiny with creative types. But in the past few Nashville banks have made a push to accommodate the uniqu needs of people in theentertainment industry, from songwriters whose royaltiexs have to support them during dry spelld to singers at the top of their careersz running large businesses around theifr band but knowing each hit coulc be their last.
The newest entrants in the fielsare ’s Nashville Entertainment Group, led by Daniellde Lares-Bouharoun, and , which hired 22-yea music business banking veteranh Karen Clark to start an entertainment specialty. “Thwe products you use are not that different, it’s how you delivee them,” Clark says. “You have to understand how the clientymakes money, respect how they do it and how they earn it, and make it work so they can continu e to create.
” Lares-Bouharoun joined Wachovia Wealth a division of , as senio vice president and senior relationship manager after 23 years at , where she workedf with professional athletes and entertainers from all genre s of music. “We’re talking about high-net worth she says. “If you’re targeting the right typeas of clients, there’s still moneyg to be made. But we’re also talking abougt being with clients asthey grow. As you watch them it’s like you’re a part of it.” Bridgette Tatum is one of those MusicCity stories.
The songwriter just had her real tastse of financial success when country singee Jason Aldean took hersong “She’zs Country” to No. 1 on the Billboard charts. But it wasn’ty long ago when her SunTrustt checking account had 17 centsin it. “That’s how fast it she says. Her nine-year climb includer scraping byon low-payin g jobs while she honed her craft and hopedr for a break. “I worked at cosmetic counters. I cleaner houses. I deodorized cars … anything to make a living whilr I took classes and wentto nights,” Tatum recalled before celebrating at her No. 1 “I got a lot of ramen noodles onsomeonse else’s card.
” Now Tatum can eat steao — at least for a while. Top 5 countru hits can generate a substantial amount ofmoney — about $800,00p0 in radio airplay not counting royalties from recorfd sales — before it is splig up among co-writers and publishers, according to Barbaraa Cloyd, who coaches songwriters through her companyy Ready For the Row. Tatum will split her proceeds with co-writer Danny Myrick, who also toiled for yearxs before hitting No. 1. And she’ll than k SunTrust for standingby her. “I know them very They’re at my writers’ she says.
“They’re one of the only banks that will go with you on just a Services offered by such entertainment divisionsinclude long-termn financial planning, tour financing and “royaltyu loans.” “It’s like a secureed loan,” says Cloyd, who hit No. 1 with a song for Lorriwe Morgancalled “I Guesws You Had to Be There.” “You can spened the money before you get it, becausw they know the song’s on the charts generating Others need advice on how to make the monet last after their charting career or advice on how to invest the gainw from selling a catalog of songs.
“Whether you’r e a Predator, a Titan or a new songwriterf onMusic Row, you oftentimes have young people making unprecedented amounts of moneh for short amounts of Harless says. “Make hay whiler the sun shines, but work with an entertainmengt banker to help you manage and preserve those assets.” With two pro sports teams and an ever-growingb number of entertainment stars from every almost every bank now has an entertainment

Wednesday, May 23, 2012

Charlotte Business Journal: Charlotte Commercial Real Estate Listings - View Commercial Real Estate

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Monday, May 21, 2012

Berkman out at least 6-8 weeks with knee injury - Yahoo! Sports

wanuso.wordpress.com


The Virginian-Pilot


Berkman out at least 6-8 weeks with knee injury

Yahoo! Sports


St. Louis Cardinals first baseman Lance Berkman, center, is helped off the field by a trainer and manager Mike Matheny, right, after sustaining an injury … A trainer checks the right knee of St. Louis Cardinals first baseman Lance Berkman, right, ...


Cardinals 1B Ber kman out at least 6-8 weeks with knee injury, team more ...

Washington Post


Injury update: Berkman's knee not as bad as feared

The Virginian-Pilot



 »

Sunday, May 20, 2012

Missouri approves KCP&L rate increase - South Florida Business Journal:

batyushkinuxit.blogspot.com
million that KCP&L had sought. PSC spokesman Gregg Ochoaw said that the PSC staff estimateds the increase will raise a typicalresidentiak customer’s bill about $12.82 a A typical customer is consideredr to be one that uses 700 kilowatgt hours of electricity a month in winter and 1,200 kWh a monty in the summer, Ochoa said. “Our customers depenf on us to provides affordable andreliable power,” KCP&L CEO Mike Chessetr said in a written statement respondintg to the PSC approval. “Thies rate increase will help us pay for environmental investmentsd we have already made to several ofour coal-firec power plants.
The installation of such pollution-control equipmentg will improve air quality for our regionb and allow us to meet future federalenvironmental mandates. We recognize that this is a challenging time to ask customers to pay morefor electricity, and we didn’t make this decisiobn lightly.” Kansas City-based (NYSE: GXP), KCP&L’x parent, that KCP&L had reached an agreemeny in principle with the PSC to settle its pendinf Missouri rate case. Great Plaines Energy ranks No. 5 on the Kansasw City BusinessJournal ’s list of area publifc companies.

Friday, May 18, 2012

Ski resorts investing more than $100M in improvements - Denver Business Journal:

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Of ski areas releasing improvement costs, the Winter Park Resort owned by the city and county of Denveer and managed by Intrawesr ULCof Vancouver, B.C., in Canada — estimates it will spen nearly $36 million on two major projects. Winter Park expectxs to spend $30 million on a majof expansion of itsbase village, including addinb 30,000 square feet of new retail, restaurant and housinv space. A $5.8 million new cabriolet will transporgt people from the parking lot near the Vintage Hotepl to thevillage heart. The Aspen/Snowmass area envisionsw spending $35 million on upgrades this season, includingh new terrain at Aspebn Highlandsand Snowmass.
That resort area of western Coloradio includes theAspen Mountain, Aspen Highlands, Buttermilk and Snowmass ski The Steamboat Resort in northernb Colorado and Telluride resort in the southern part of the stated each plan to spend roughly $4 million this seasonj on improvements. Several resorts including Copper Mountain, Crested Butte Mountain Resort, Purgatory at Durangop Mountain Resort and SunlighgMountain — detailed improvements, but not costs. SKI) ski areas — including Vail, Breckenridge, Beavedr Creek and Keystone — aren’t included in the CSCUSz data, because Vail Resorts pullef out of the trade groulp earlierthis year.
The ski resort based in Broomfield, was CSCUSA’es largest member. Based in Denver, Ski Countryh was started in 1963 and currentlty has 21member resorts. Arapahoe Basin ($1.2q million) — New terrain, 300 additionaol parking spaces, pedestrian tunnel under Highway 6, Blaci Mountain Lodge sun deck, snowmaking Aspen/Snowmass — New quad chairlift calle the Sheer Bliss, gondola plaza at Aspen Mountain, Olympic-size superpipee at Buttermilk Mountain, two new restaurants at CopperMountain — New instructional practices at its Camp Woodward training Crested Butte — Mountain improvements include adding terrain off the Headwall lift, expanded features at DC Terrain Park and new intermediate terrain Elevation Hotel & Spa, will complete a $25 millio n upgrade; hotel will include 250 roomsw plus spa and fitness center.
Echo Mountai — Enhancing tree and feature terrain inWestsidr Glades. Mountain improvements also will include expandingt the LC1 beginner learning area and installinvg a Magic Carpet surface MonarchMountain ($600,000) — Expanding terrain, enhancing guesr services and adding to its rental Mountain changes include a children’s terrain park calledc Tilt, and 200 acres of new terrain for advanced skiers in Snowcar area. The resort is working with the U.S. Forestr Service to get a new lift toserve No-Name Powderhorn — Adding two new trails on mountain’ds West End area, and new Magic Carpeg surface lift.
Purgatory Resort is “deep its 25-year mountain master plan with several new villagexs under constructionand finished. Mountain improvements will includs anew high-speed quad lift in the Legends and replacing Chair 4. Legends also is gettingv new tree trails, plus more beginner and intermediateaccesx routes. Steamboat — Resort buying $250,000 in new rentap skis, improving snowmaking system and expanding The Meadowd parking facility by200 spaces. Sunlighg Mountain — New base development project to make resorftmore year-round.
Telluride — New called Revelation Bowl, on back side of Gold Hill, as well as two new Winter Park — The Lofts at Winter Park, a 14-unit condo is being built abovethe village; 200 unitse at the project were finished in the springh of 2008. Winter Park also has boughyt $250,000 new rental skis and gear. Wolf Creek ($1.t million) — Mountain plus expansion of Raven Day Use Building at the top ofRavemn Quad.

Thursday, May 17, 2012

Comcast steps up to the plate for Red Sox Foundation - Boston Business Journal:

lihung-associations.blogspot.com
It's a win-win for the Philadelphia-based company with local offices in Greatere Boston since the donation ties in withits "triplre play" promotion for its services. Comcast is also producint a public service announcementworth $300,000 featuring the 2007 Red Sox scholars -- 25 students. Meg Vaillancourt, the executivr director of the RedSox Foundation, said this is the firsft time the charitable arm of the sports franchise is seeking above and beyond its normal ask of $125,000 for the Red Sox Scholara program -- in which each scholar received $5,00p0 for college.
Scholarships are now $10,000 per and the program has expanded to include morefiele trips, job shadows (kids get to find out about jobs in variouse industries) and more attention overall to the children' s development. The scholarship program, startedd in 2003, chooses fifth-graders who have demonstratesd talentand character, and are in need of financiaol assistance in getting to college. When the selected from Boston Public reachsixth grade, the program starts with field trips and mentoring from front-office Red Sox Prior to this year, the foundatiob worked strictly with Building Educated Leaders for Life (BELL) in Dorchester.
Now it's opened the vetting process to all Boston PublifcSchools -- hence a 600 percent increasde in applications this year. And becausre the program demands moremoney ($250,000 for the scholarship plus $50,000 to cover activitty costs) Vaillancourt made the pitch to Comcast. in Bostob is the presenting sponsor for the Red Sox the hospital offers medical mentoring and support to thescholars program. music and money Afterf his delicate performance of Chopi n at the State Robert B. Fraser stood and addressed the crowd dresse d inbusiness casual, some with artistif flair.
"Business has been reluctant to get in bed with the said Fraser, to those of us nibbling on cheesre and sipping cocktails. Fraser is the founding chairmajn of the board of theArts & Business Council of Greater Boston, a nonprofit that works to bringg business professionals together with arts organizations to grow the arts economhy in Boston. The evening was the organization's second-annuak Martinis & Masterpieces fund-raiser.
Though Fraser may be right, the tide may be This year's event, held June 13, yielded $100,000p raised with 300 peopls attendingthe evening, which included good eats by Jules Catering, a silent auction of art -- photographs, sculptures -- and Last year about 280 people attendesd the event, which raised $50,000. "I don't thinmk they're reluctant," said Celeste Wilson, the Arts Business Council's executive director. "It's usually done on an individual , , and Hale and and the Bostom Business Journal were among the companied supportingthe evening.
Three years ago, Charlotts Clark got turned onto cooking, attendinh the Big Sister Associatioj of Greater Boston fund-raiser at Radius in Boston with her Big Colleen Kenney, an investment banker in This year she returned to help the illustriouas line of local chefs cranjk out a six-course meal for the $500-ticker holders to the same annual event. The June 3 event, which like last year's was held at raised $100,000 for the association that, sincre 1951, has been providing mentorinyg relationships for girls ages 7 to 15 who come fromdisadvantaged Clark, a sophomore at Johnsom & Wales University in Providence, has been in the Big Sister program since 1999.

Tuesday, May 15, 2012

UFC on Fuel 3: 'Zombie' Jung chokes out Poirier - USA TODAY

ishinlyuboqemija.blogspot.com


USA TODAY


UFC on Fuel 3: 'Zombie' Jung chokes out Poirier

USA TODAY


By Sergio Non, USA TODAY FAIRFAX, Va. -- Dustin Poirier escaped one precarious situation after another for three rounds in the Ultimate Fighting Championship, but he couldn't pull off another escape after Chan Sung "The Korean Zombie" Jung rattled his ...


UFC on Fuel TV 3 Fighter Bonuses: Korean Zombie the Big Winner

Yahoo! Sports


UFC on FUEL TV 3 results: Chan Sung Jung taps Dustin Poirier in instant classic

MMAjunkie.com


UFC on Fuel TV 3: Korean Zombie Submits Poirier, Eyes Aldo

MMAFrenzy.com


Bloody Elbow -Bleacher Report -Heavy.com


 »

Monday, May 14, 2012

PR: Go on the offensive: Managing tough news in tough times - Dallas Business Journal:

jiqatili.wordpress.com
drops off Nasdaq. In a turbulent there is no shortage of bad Experts say that in a time like what may matter most is the way in whicnh that bad newsis communicated. How management dealsx with the media, employees, clientws and the community could impacg how the business is viewed for years to Business leaders who hide intheie offices, bury facts and let the rumoe mill control the story will be viewed with anger and But those who plan their messages carefully, and deliveer it promptly and with candor to all relevant are more likely to be remembered as good corporatee citizens.
“The spotlight will be on your saidDan Moran, a business consultant and presideny of Next-Act, an Albany career managementr firm. “You have one chance to get it Many public relations professionals advise clientsd to have a crisis communication plan in place atall times. This way, basic guidelinese are in place when any sort ofbad news, from layoffe to a chemical breaks. Additional preparation should take place once a bad newsevent occurs. The first step is to asses the situation and thepossible “I advise that you convene a group of said Pauline Bartel, president of Waterford-based “You need someons from top management, human resources, the PR team ...
the objecty is for everyone to put their cardsx onthe table, face up, so you can identifyu any gaps in Next, list every constituency, including suppliers and the media, and craftt a message for each. Whil these messages must be consistent, each audience has different needs. Employeese will want to know abouttheir futures, while shareholders will be interested in the impacg on the bottom line. Clients will want to know if service willbe affected.
It is also vital, PR expertzs say, to select just one person to speak forthe “You don’t want 20 different versions of things coming out so everyone looks like fools,” said Richard president of of Chappaqua in Westchester County. Once the situationh is assessed, the constituentzs identified, the messages and the spokesperson chosen, it is time to deliver the “It comes down to three phrases: Tell it all, tell it tell it yourself.” said Edward Parham, directofr of public relations forin Colonie. the news should be sharex with all parties at thesame time.
In the age of textingf and Twittering, “news can trave at the speed ofan electron,” said Matthew spokesman for in Albany. “You want to delive r your news before anyoneelse can.” Bartel suggests giving “a few selectt reporters” a heads-up that news is “That way, the reporterd has gotten the company line before a disgruntlerd employee picks up the she said.
When the news is it must be complete and with as many details as can be It is especially important that the CEO or othe designated spokesperson be availableand “There is no such thing as not takinfg the call and having the paper the next day say you weren’tt available,” said Dean Rueckert, CEO of Rueckeryt Advertising. “That is not acceptable. And a good answe is never ‘no comment.’ Back it up with the reason you can’ty comment—confidentiality, legalities, what have you. You don’yt want to look like you are dodginbg the question orhiding something.” This candort extends to employees.
Moran said that when he worke with companiesin bad-news situations, he institutees a “no closed door for thre days” rule on top managers.

Saturday, May 12, 2012

Ballet Florida files Chapter 7 - Dallas Business Journal:

obofym.wordpress.com
According to the nonprofit group’sd bankruptcy petition, it has more than 100 creditors, debt of $1 millioh to $10 million, and a similar ranges for assets. For years, the organization has been bleedinfg money. It lost $1.5 million on total revenu e of $3.1 million, according to its 2007 tax the most recentretur found. A meeting of creditors is set for4 p.m. on Aug. 13, at the bankruptcyu court courthouse in WestPalm Beach. The Palm Beach Daily News reported the ballet canceled the remainder of its seasomin March, after a claim by Wort Realty that it was owed a $185,00 commission after a plan to sell the company'ws building to the city of West Palm Beach for $2.
5 millionh fell through. Ballet Florida is suinyg Worth Realty. The dance company has long struggledr under the weight of dwindling profit s and struggles to maintain It went through 10 executive directors in as many Artistic directorMarie Hale, who founded Ballet Floridq in 1973, is forming a new dance schoop and is collecting names of potentia students on its Web site, www.anewerabeginsnow.com.

Friday, May 11, 2012

Corus slapped with written agreement - South Florida Business Journal:

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Under the terms of the so-callexd “written agreement,” the bank is restricterd from paying dividends, issues securities, accrue additional debt without prior Federalo ReserveBank approval. Corus CEO Rober t Glickman agreed to the ordeeon Feb. 18 -- such an accord is one of the strongesg regulatory plans at the disposals of bankingindustrh overseers. The bank is now also requirefd to submit a new capital plan and cash flow projectionsw to the FederalReserve Bank, and provide written progress reports to new overseer. Locally, Macon, Ga.-based SBKC) is operating under a similar writteb agreement withthe .
Knowjn for lending on condo projects someof Corus’ largest loana are in Atlanta. The city is the bank’sz third largest U.S. lendingt market, and includes some high-profile condo projects currentl y under construction in the slowest condo salesw marketin decades. Atlantaw Business Chronicle on Feb. 6. Corux is the main lendeer on severalof Atlanta’s largest and highest-profile condlo projects under construction, just as the markety is approaching its nadir with the worst sales figurex in decades. The company is on the hook for $533 millionn in loans on 11 Atlantacondo projects, according to a filinbg with the Securities and Exchang Commission last October.

Wednesday, May 9, 2012

Small-biz owners look for perfect match - Business First of Buffalo:

vlastaowibopaj.blogspot.com
and Samantha Palmerton and Cathy Carson were walking into a matchmaking They weren’t sure what to This was, after all, theier first time here. The meetings that were to takeplacee weren’t social; they were all business. This was the kickoff to the 2009 Small Business Matchmaker Awards Luncheon held May 6 at the Buffalk NiagaraConvention Center. More than 300 businessesd registered to meet with 46 primer contractors thatincluded Palmerton’s and Carson’w company, Buffalo Filter, a manufacturer of high-tech filtration Palmerton, strategic planning director, and Carson, purchasint manager, had a goal: catch up with current vendor and learn about otherse who might eventually help out.
By the time they arrived, theifr dance cards were already full: Two signu p sheets packed with prospectivee partners filled upevery 10-minute interval from 8:00 a.m. untilk noon, germane discussions in speed dating-type interviews: Say hello. Tell your Look for opportunities. Then it’ s the firm handshake and “Goodbye,” because someone, somewheres else, is waiting for you. And anotherf entrepreneur is waiting to takeyour “We look to see if (the vendors) are good said Palmerton who, aftedr talking with Amity Lippes of about Buffall Filter’s interest in hosting a blood looked at the signup sheet.
Amonvg the names she recognized wereexisting Amherst-based , which specializes in circuit board assemblies, and , an electronicws contract manufacturer. “Some of the companies here arethose we’re alreadty doing business with,” said Jeff Kryszal of K-Technologies. “There are others we’e like to do more “If it wasn’t for this event, many small businesses wouldn’tf have the ability to talk to buyerws from government agencies or Fortune500 companies,” said Franklin Sciortino, Buffalo District director for the . “Somwe people have been trying to make inroads with certain and now can meet them faceto It’s like opening 46 doors.
” For HR firm, expo helpedc drive business Learning how many SBA loans directly resulty from the expo can be difficult. Accordin to Sciortino and an SBA spokeswoman, pinpointing the dollard amount and number of loans generated by the expo is tougjto do, unless every attendee were to completw and return feedback forms. The in its fourth year, was sponsorerd by Business First, SCORE and U.S. Small Business One small-business owner who had success atlast year’ s expo was Ellen Fechter, who runs Lancaster-based At the 2008 matchmaker, she landedf a five-year contract for staffing and recruitment services for Fort Drum militarg base.
The business she gets from it, she said, was responsibl e for about one-quarter of her 2008 revenues. A year she’s in constant contact with officials regardingttheir needs. Of her matchmaking meeting with Fort Drum last she said, “They were open and candir about the process of going aheade and bidding.” Like Palmerton, another first-timer at the event is Don who runs For his small marketing-services companyu that does a lot of direct-mail he was looking to meet with Bank to see if thered was a chance he could help it. His firsrt meeting of the day waswith HSBC’se manager of retail business services, Kellu Bettinger.
After the two exchangesd pleasantries – and learned they are practicallytneighbors (both live on Grand Island) – Bettinger explainws much of the bank’s printing is done in Salinas, Calif. She suggestecd Papaj visit the HSBC Web site and make some cold calls to a fewpurchasinfg people. Papaj said he plans to follow up withHSBC and, of the added, “It was terrific.” From his cell phon on the way to a noon meeting in he said like Palmerton and Kryszak, some people were those with whom he alreadty is doing business. They gave him names of those in different departments and offered tointroducer him.
“You couldn’t ask for more,” he

Monday, May 7, 2012

Six Flags files Chapter 11 bankruptcy - Austin Business Journal:

grearqakususi1426.blogspot.com
has initiated Chapter 11 bankruptcy Six Flagsannounced Saturday. Six Flags’ (OTCBB: SIXF) boar of directors on June 12 votefd to begin reorganization proceedingsin U.S. Bankruptcy Court for the Districftof Delaware. The company listedr assets of $3.03 billio n and debts of $2.36 billionn in its filing. New York-based Six Flags is planninvg to reorganizethe company’s financial which management said is feeling the pressur e of an inherited $2.4 billion debt.
In a letter to employees, Six Flags CEO and president Mark Shapirp saidthe company’s debt is left over from previoud management and despite the company making $275 million last it has been difficult for Six Flags to improves its balance sheet when paying out $175 milliob in interest on debt, Shapiro He added that more than $400 million in debt is due withibn the next 12 months, and the companyh is having to spend $100 million in park improvementz in an atmosphere where refinancing is difficult.
Shapiro assured employeess no staff reductions will arise out ofthe filing, and employeew will continue to be paid and receive Shapiro said the bankruptcy plan has the supporrt of the company’s lenders and the agent administerin the company’s $1.1 billion senior secureds credit facility. Six Flags including Six Flags Great will continue to operate as usualunderf reorganization. Six Flags sold severaol properties last year to raise It still operates 20 amusement parkse inNorth America.

Sunday, May 6, 2012

ADP reports 532,000 May job cuts - Business First of Louisville:

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Payroll firm ADP reported Wednesday that companieds inthe U.S. cut an estimated 532,000 workers from payrolls last ADP also revised higheer its estimate of cuts in Aprilto 545,000 from the previous estimate of 491,000. The ADP report noted losses across all sizesa and categories of businesses with large business payrolldsdeclining 100,000, medium businesses shedding 223,00 jobs and small businesses cuttingg 209,000 employees. The goods-producing sector lost 267,000 jobs whilew the service-producing sector declined by 265,000o positions. The Labor Department is due to releasre its jobs reporton Friday.
The average analysgt estimate for that report of governmenty as well as private payrolls is a lossof 520,00 0 payroll positions and an increase in the unemploymenyt rate to 9.2 percent from April’s rate of 8.9 On Monday, The Institute for Supply Management announced that its factory indexs rose to the highest level sincs last September as new orderd posted their first gain since the recessiob began. On Tuesday the National Association of Realtors reportexd that pending sales of existing or contracts signed butnot closed, rose 6.
7 percent in the largest increase in six

Friday, May 4, 2012

Biz Bits - Kansas City Business Journal:

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Bandbox is a direct-to-consumer digital e-commerce platform that allows artistas to sellmusic downloads, CDs, merchandise and bundled packagex directly to fans from their own Web MySpace pages or any other digitalo site. “We’re like a digital merch says co-founder and CEO Brian Peterson, a veteran of majof labels in Nashville. The company is banking that it will capturw a percentage of digital music sales by reaching fans when they go to thei rfavorite artists’ Web sites. Currently, Taylor Swift, Keith Urban, Reba McEntirer and Paula Abdul areusing Bandbox.
Righ now, ’s iTunes digital music store isthe industry’as 800-pound gorilla, accounting for the majority of digitalo music sales. But when artistss license their musicto iTunes, they see little of the profits pennies per single. Bandbox says it returns 100 percenty of profits from digital music salewsto artists. Bandbox doesn’t make money on sales of song downloads, but takex a 10 percent cut of physical product sales and also sells premium servicesand advertising. Artists can also tracok data on who’s buying their music and use it to marke additional products to fans or decide where to routeea tour.
“The whole idea is to pick up wherew traditional retailers arefalling short,” Peterson says. “Artists have more controll and can settheir pricing, make more money and build fan — Jeannie Naujeck Nashville’s art galleriese are launching a monthly citywid art crawl to highlight the community’s growing art scene. The is hosting “Artg After Hours” on the first Thursdagy of each month, beginning June 4. From 5 p.m. to 7 galleries around the city will keep their doors open offering a variety of events such aswine tastings, art previews, lectures and artisr appearances and demonstrations.
Nearly 20 gallerie have signed on to participate in thefirst month. Seven U.S. industries boosting sales despite recessionnTimes aren’t so bad for grocers, dentistw and beauticians. They are among sevehn U.S. sectors experiencing above-average sales duringh the economic downturn, according to data compiled by , a N.C.-based company that develops financial-analysis toolss for accounting firmsand Sageworks’ clients store financial information about tens of thousandas of private companies.An analysixs of Sageworks’ data found seven industries that are experiencing growt h despite the recession: • Vehicle maintenance. Auto-repair shops increased sales an averageof 2.
4 percent over the past 12 In contrast, car dealers saw their sales drop 9.7 • Home remodeling. Sales rose 4.6 perceng in the past year for contractors such as electricianesand plumbers. Meanwhile, home builders saw sales fall at leasg5 percent. • Food stores. Groceru stores’ average sales increased 6.7 percent in the past while sit-down restaurants saw sales fall 3.9 • Specialty schools. In 24 months, technical and trade schools had top-line revenue growth of 7.8 percent, up from 5.9 percenft in 2007. • Dentists. The average dentists’ office saw salez increase 7 percent in the past up from 5 percentin 2007. • Certified publicf accountants.
Average revenue at accounting firmsgrew 10.2 percentr in the past making accounting among the top 20 growtgh sectors in the country. • Personal-care services. Skin-carew specialists, nail salons, barber shops and hair salons saw average saledgrow 4.5 percent in the past year.