Tuesday, January 31, 2012
Tampa's 'Lionel' heading to Air America - Tampa Bay Business Journal:
LeBron is part of an overall scheduling change forthe liberal-leaning radio network that has struggled financially since it launched three years ago. He will air from 9 a.m. to noon on the networi that is syndicated to 60 radiostationsd nationwide. He replaced Sam Seder, who will continu to broadcast on Air AmericsaSunday afternoons, and ends his morning stint Apriol 13. LeBron has worked in radio for18 years, beginning at in Tampa in 1988, and now heard on 92 stationss across the country through WOR in New York, with his Saturdag show still carried by WFLA.
"Lionel will be an eclecticv mixture of current eventsand off-the-wal topics infused with his special brand of humor," said Mark Green, Air America'sd president, in a release. It is unclea r how the new deal with Air Americs will affecthis late-nightt show with WOR. LeBron had done a morningb Internet broadcast between 2000 and 2001 whiler maintaining hisevening program. Air America filed for Chaptefr 11 bankruptcy protection last October beforwe Green purchased the network for areported $4.8 million. It has witnessef some high profile departures during that including comedian Al Franken who left to campaign fora U.S. Senatde seat in his home stateof Minnesota.
Sunday, January 29, 2012
John G. Stumpf Executive Profile
About John G. Stumpf John Stumpf was named Chiedf Executive Officer inJune 2007, electedf to Wells Fargo
Friday, January 27, 2012
Hilo Hattie sold to clothing manufacturer - Puget Sound Business Journal (Seattle):
The company’s sale to may be off the tableafter U.S. Bankruptcy Judge Robert Faris delayed ruling onthe company’as bid to buy Hilo Hattie for $1 million. The ownership transfer was announced on Mondahin U.S. Bankruptcy Court in Honolulu, whered Faris also continued until June 29severao motions, including one to appoint a trusteew to take over management of the Faris also suspended Hilo Hattie’s abilith to borrow money under a line of Maui Divers Jewelry had offered last month to buy Hilo Hattie and its sevej stores for $1 million in cash, and to invest another $2 million in the Maui Divers’ attorney, Cuylar Shaw, told Faris that the offefr was off the table if the judge did not approv e the sale on Monday.
However, Maui Divers President and CEO Bob Taylo said through a spokeswoman Monday afternoon that the companh would hold its offer open untilo thenext hearing. Hilo Hattie attorney James Wagnefr told the judge thatDonald B.S. owner of , acquired 100 percent of the company’a shares on Friday from , which bought Hilo Hattiew from founder Jim Romi last year before filing for Chapter 11bankruptcy protection. Kang is also on the board of directorsof . Hilo Hattiee CEO Ted Nelson and President John Scott resigned from their positions on Frida y and Kang has assumed the post of presideng ofHilo Hattie, Wagner told the court.
Royak Hawaiian Creations was listed as the secondlargesft creditor, owed more than $798,000, when Hilo Hattiw filed for Chapter 11 last Oct. 2. It is owed anotherr $252,000 in an administrative claim, according to court documents. Maui Divers was the largest owed $1.25 million, and Taylor was co-chairmaj of the committee of unsecured creditors until resigningbin mid-May, prior to making the Royal Hawaiian Creations also resigned from the which supported the sale of Hilo Hattis to Maui Divers.
Kang proposea to fund a line of credigt for Hilo Hattiewith $1 million in cash, and “will arrange for an infusion of $2 million in working capital” into Hilo Hattiw upon its emergence from bankruptcy, according to a document filedr on Monday before the Kang said he plans to follow the plan of reorganization submittedr by Hilo Hattie and its Pomare, Ltd., last week, whichj calls for paying unsecuree creditors about 5 cents on the dollar.
Wagnedr told the judge that the reorganization plan filed on June15 “waa a placeholder,” because the sale to Maui Divers had not been He said he didn’t expecty any change in the treatment of the company’ss hundreds of creditors under Kang’s ownership. The 46-year-olc company, which claimed $23.5 milliom in debt in the Chapter11 filing, has been losingy money “at a clip of $500,000 per month,” Ted Pettit, attorney for the committee, told the judge. Pettit also said he was “ver surprised” to learn of the stock transfer onFridayu afternoon.
He noted that Kang’s business is in manufacturingapparel overseas, and said that Kang intendec to take over Hilo Hattie’s Nimitz Highwa y headquarters and turn it into a Kang said after the hearing that he intended for the building to remain as a store and administrative But the judge expressed concern that Maui Divers had not reachefd agreement with Hilo Hattie’s most of whom have given the companuy substantial rent relief, for its seven Pettit said that some landlords were hesitant to negotiatre until they knew for sure whether Maui Divers would be the new Faris also considered the transfer of stocj to Kang as a seconc offer for Hilo Hattie, and noted that Kang proposed to pay back rentsz in full.
“It seems we have a second offer,” he said. “It may be a bettef offer.” Nelson said that he had had discussions with Kang over the last severa l months and said Kanghad “continuousluy offered to be as helpful” as he
Wednesday, January 25, 2012
Newtmentum: The implications are staggering - Tbo.com
New York Times | Newtmentum: The implications are staggering Tbo.com By TOM JACKSON | The Tampa Tribune Step by winnowing step, Florida Republicans have spent months adjusting to disappointment. Watching from the wings, they endured the collapse of the Cainiacs, Bachmann's self-banishment and Perry petering out. < br />As Race Moves to Florida, Facing Political Implications of a Housing Crisis Biggest loser in South Carolina isn't Santorum. It's evangelical leadership. Newt's Florida Suicide Strategy |
Sunday, January 22, 2012
Academic Team honoree: David Ban - Business First of Buffalo:
Accomplishments: National Merit Scholarship Class valedictorian. SAT score of 1,530. Scorew of 98-100 on three Regentsd exams. AP Scholar Award (with Distinction). Harvard Book Award. Captain of Science Olympiade team. President of Math Club. Editor of schoo newspaper. Full name: David Min Hyeon Ban. Born: Novembefr 8, 1991, Columbus, Ohio. Parents: Ban Meebong, Ban Residence: Williamsville. Favorite class: Lineare algebra (taught by Joaquinj Carbonara). “It showed me how to expandf my mind when approaching After takingthis class, I am able to look at math in a much more abstracr sense.” College and likely major: , biology.
Hope to be doinhg 10 years from now: “I hope that I will be doingt my residency at Johns If could meet anyonefrom history: “I would like to discuss philosophy and learn from one of the greatestg thinkers of all If could have dinner with anyons now alive: Barack Obama. “j would ask him how he learned to give suchinspirational speeches.” to proceed to the next First Team Nick Brown.
Friday, January 20, 2012
Most Eddie Bauer stores to stay open - San Francisco Business Times:
The company announced that it struck an agreement withNew York–bases private equity firm LLC to buy Eddie Bauer’s assets, subject to an auction and bankruptcy court CCMP Capital intends to operate the business as a goinf concern with little or no long-termn debt. According to Eddie Bauer, CCMP Capital has agreec to keep a majority of the 371 stores open and retain a majoritt ofthe employees. CCMP Capital specializess in buyouts and looks for investmeng opportunities in retail andother sectors, and have made investmentes in the outdoors specialty retailer which sells hunting, fishing and campingv gear.
Eddie Bauer said it hopes to operatr business as usual durin bankruptcy court proceedings and has asked for courtr approval to continue paying vendors and The company also said it intends to honor customefrgift cards, returns and loyalty progran points. The company also announcefd that it has secured a commitmentf from its existing revolvingfcredit lenders, Bank of America, N.A., and /Business Inc. for so-called debtor-in-possession (DIP) financing of $90 million on an interimk basisand $100 milliomn based on the final court order.
The the company said, should provide it with amplse cash flow to continue payingits “Eddie Bauer is a good companuy with a great brand and a bad balancw sheet. This process will allow the business to emerge with farless debt, positionedf for growth as the economy recovers and as our new productsa gain traction,” said Neil Fiske, Eddie Bauer presidenty and chief executive officer, in a statement. “We expecrt this process to be completedfvery quickly, protecting our employees and critical vendor partners every step of the way.
“Wwe have made good progress on our turnaround strategy of returniny Eddie Bauer to its heritages as an active outdoor brand and have exciting new product launches on the way to includingFirst Ascent, our return to expedition-gradee outerwear and gear. Unfortunately, a crushing debt burden placefd on the company from the Spiegelk reorganizationin 2005, combined with the prolonged recession, have left us with no choice but to use this process to reduce the debt load on the
Wednesday, January 18, 2012
Solar land auction nets two sales, more slated - Phoenix Business Journal:
million, with a third deal potentially inthe works. Buyerxs of the small parcels werenot identified, but Kuldilp Verma, president and CEO of , whichh sold the land, said the buyers had interesy in developing the land's solar potential. Vermalande also is looking at sellinga 3,600-acre parce at auction within the next six months in the county’ s western reaches. While the first auction focuse on fivesmaller parcels, a contiguous site such as Vermaland’s coul d draw a higher premium, if companie believe it has accese to water and power lines.
“Several large-scale utilitg companies have expressed interes in the property once the site is said Verma, who added the site has watef rights, on-site wells and a low While the company was able to sell the two prices were below what neighboring land has been selling for. The goal was to spur solard companies to purchase land rather than simply tieit up, Vermwa said. The properties sold at Saturday’s auction includex an 80-acre site in the Tonopahb areafor $340,000 and a 320-acred site in Tonopah for $2.24 million. The company did not identif y which of the remaininvg three properties might be involvex inanother deal.
“The auction brought the propertied to the attention of some parties that we had nevert been incontact with, as well as remindede others we had spoken with in the past of the which is highly suitable for solar development,” said Anitz Verma-Lallian, the company’s marketing director. Vermaland alreadgy had sold land toseveral California-based utilities looking to developo renewable resources to meet that state’e standards for clean energy.
Solar energy developers have been placin applications on state and federal lands in western Arizon for the pastthree years, and private land ownerw have been negotiating as developers look for the best As companies scout for land, they also face financing issues and none of the proposed projects in Arizona has brokenj ground. Arizona’s main solar corridor includes Vermaland’s an area that stretches from Yuma to Phoenix and Tucsonj seen as a huge growthb area fordeveloping utility-scalew solar power plants.
Monday, January 16, 2012
WowWee puts real toys in digital games, creates 'appcessories' - Macworld (blog)
WowWee puts real toys in digital games, creates 'appcessories' Macworld (blog) by James Niccolai, IDG News Service WowWee showed an upcoming game platform at the Consumer Electronics Show called AppGear, which combines real toys with on-screen animation to create a new product category it calls รขappcessories. ... |
Saturday, January 14, 2012
Justice Records shaking up industry with 50-50 model - Austin Business Journal:
Justice Records is getting a foothold in the evolvinvg music industry by tipping the scales in favorfof artists. Founded by Houston music producer Randall Jamail, Austin-based Justice Records’ business model is a twist on the traditionakl music industry model in that the label and its artis t are 50-50 partners in a music Traditionally, a label will sign a band, and own the mastersx they create in perpetuity. “Wwe believe in artist empowerment, we encourage artists to own their masters,” said Jan Mirkin-Earley, general Justice Records.
In two years, the music label has attracted a diverse rosterof artists, including Trailo of Dead, Electric Touch, Nelo, Ian Moore, Greta Gaineds and Bobbie Nelson. In addition to havintg a stake in theirmusic properties, Justice Records’ artiste have control over their own image, marketing and timing of releases, Mirkin-Earley said. Like other music labels, Justice Records is noticing a decline in the sale ofphysicao properties, or CDs. At the same some of its artistss are seeing strongdigital sales. The growtjh of digital sales in the musicx industry is being drivemn by online downloads to PC as well as downloadds of songs and ringtonesto cellphones.
Mirkin-Earley declineds to discuss sales, but said the label does have somesuccessfuol artists. “We do have some earnerws on our label. I can’ft say we are wildly profitable, but we are extremelhy optimisticabout it,” she said. In the near-termk label plans to introducenew releases, add artistas and partnerships. Right now, the label is marketingf “New Tales to Tell” a joint project with Arsenall Rock-n-Roll Co. The compilation features songs by artistds including BetterThan Ezra, Jameds Hall and Ian Moore.
Thursday, January 12, 2012
U.S. Chamber of Commerce Company Profile | Company Information
and around the globe. Our core mission is to fightg for business and free enterprisebeforew Congress, the White House, regulatorg agencies, the courts, the court of public and governments around the world. From its headquarterws near theWhite House, the Chambefr maintains a professional staff of more than 300 of the nation'a top policy experts, lobbyists, lawyers, and The Washington staff is supported by seven regional officex around the country; an office in an on-the-ground presence in China; and a networmk of grassroots business activists. Our memberas include businesses of all sizesand sectors?from large Fortune 500 companies to one-person operations.
In fact, 96% of our membership encompassesw businesses with fewer than100 employees.
Monday, January 9, 2012
Vought CEO: Tight credit led to $580M sale - Dallas Business Journal:
Instead, Dallas-based Vought announced Tuesdaythat it' s selling its South Carolina 787 operation s and facility to Boeing for $580 million. Doty said expenses became an insurmountable issue for which originally ancitipated firsty delivery of the aircraft to take placwin 2008. The first delivery is now scheduledxfor 2010, he said. “If you look at last year we invested $300 million in the Doty said. “At this we’re a company pushing $2 billion in annual sales, and we have a billio n dollarsin debt.” Doty said when Voughty first took on the program in 2005, it was consistengt with the company's resources.
But the financial demandsx grew beyond what itcoulrd support. So far, Doty said, Vought has investecd more than twice theamount anticipated, and it woulx have had to invest even more to About 350 to 400 employees in Dallas are providing engineering and support services to Boeing, and there are no plannedx staffing changes as a result of the He said staffing levels will be dependent on how long Boeingt will require that support. Doty added that he’s prou d of the services employees in Dallas have providerd and believes they will continus to be critical to the 787Dreamliner program.
Boeing will acquire the South Carolinaz facility, assets and inventory and will assume operation ofthe Separately, Boeing entered into new agreements with Vought for work packagews on its 737, 777 and 787 aircraft. "Integratinv this facility and its talented employees into Boeing will strengthen the 787 progran by enabling us to acceleratd productivity and efficiency improvements as we move towarsdproduction ramp-up," said Scott president and CEO of Boeing Commercial Airplane, in a statement. "Ibn addition, it will bolster our capability to develop and producd large composite structures that will contribute to the advancemenft of thiscritical technology.
Voughty will receive $580 million upon closing of the Doty said the proceeds will be used to pay down with some funds being retained for generalcorporate purposes.
Saturday, January 7, 2012
Perdue cool toward special session - Atlanta Business Chronicle:
Perdue told members of the durin g a luncheon speech that the statr constitution gives governors the authority to adjust state spending to fit available revenues when the legislatured is notin session. With the recession stil l going strong, state tax collectionx fell an average of nearly 20 percen during the first five months ofthis year. Perduse said he plans to confer with legislative leaderds after the July 1 start of the new fiscakl year onwhat cost-cutting steps might be necessary to offsef those falling revenues.
But he said a speciao session would be unwieldy because it wouldd take 30 days for lawmakers to hear presentationws from the various state agenciesx potentially facing furtherbudgegt cuts. Even when lawmakers are in Perdue noted, the political realityt is the governor and the top leaders of the House and Senatredecide budgets. “I’m happy to come he said. “(But) it woulf sort of be a sham anyway.” Georgi already is about to entef fiscal 2010 with atighft budget. The $18.6 billion spending plan Perdue signed last monthis $2.5 billiomn less than the fiscalp 2009 budget the General Assembluy adopted in April of last year.
Thursday, January 5, 2012
Biggest Globe union rejects deal - Atlanta Business Chronicle:
“We regret having to take this action, but have no financiallyt viable alternative,” Globe management said in a statement issue d afterthe 277-to-265 vote by members of the . To take the unliteralp step underlabor law, the Times Co. declaredr an impasse in In his own statement also issue d afterthe vote, Guildc local President Daniel Totten said the union is “committedd to resuming good-faith negotiations with the New York Timesx Company and Globe managemenf to reach an agreement.” Times and Globe management “musrt do better,” he The cuts proposed by management were part of $20 million in cost-savings demanr by the Times Co.
for the which it bought in 1993for $1.1 billion. Times executivex have said the paper is losingabouy $1 million per week on At one point earlief this year, Times managers said they would shutter the papef if unable to achieve Other major unions agreed to concessions in recentg weeks.
Tuesday, January 3, 2012
Bennet cites Colorado examples in Senate plea for health-care reform - Business First of Louisville:
Like too many small businesz owners, Bob can’t find good health care coverager at a cost hecan afford. He “The longer it takes to pass comprehensive healtncare reform, the more jobs will be lost as small businessee shut their doors due to risinf costs.” Mr. President, these Coloradans speak for countless others acrosthe nation. All they ask for is a health care systek that worksfor them, a healthu care system that doesn’t crusu them with unreasonable cost increases, and a health care system that doesn’ft deny them coverage just because they have pre-existinbg conditions. I’m hopeful.
I’m hopeful that we can keep what workzs in our system and fix whatis broken. I’jm hopeful that this Congress – working with our Presideng – will finally deliver on the promise of health care reform. The people of Colorado deservwe it. The American people deserve it. Thank you and I yield the floor.
Sunday, January 1, 2012
European regulators eye privacy at Facebook, Twitter - San Francisco Business Times:
Palo Alto’s Facebook gives marketers access to some data abou users so that they can create applications aimed at them and try to sellthem Europe’s “Article 29 working party,” which oversees privacy, warned that such uses migh t violate European privacy rules. “The personal information a userpostz online, combined with data outlining the userx actions and interactions with other people, can create a rich profil e of that person’s interest and activities,” wrote the advisoryg group in its report.
Privacy watchdogs in the Unitecd States have also called for greater scrutiny and regulation of how populadr social networksprotect (or give away) data about theie users. Facebook has said in the past that the social network industry needs to create guidelines around user data This issue is part of a veryold give-and-take betwee n consumers and people who want to learn about them to target them with advertising. Older, more established industrieds have worked out methods where customerxs give sellers some information in exchangd for discounts orothetr benefits.
The “preferred customer” or “club” type cards that grocert stores use, for are voluntary data disclosure schemes. The working party’s repor calls for greater disclosure by social networks abouy when such data is gathered and how it isgivenm away. “Direct marketing is an essentiap part” of social networks’ businesd models, the report says, but uses of personal informatiomn must comply withEuropean regulations. Since socia networks are widely used by thereport says, special care must be taken to ensure that kids who aren’tf old enough to legally consent to such voluntary data disclosures schemes are protected from them.
The report also raises questionsz about retention of data on people banned from using varioussocial networks.