1189126qun.blogspot.com
The vote was 69-27. Bredesen’a office immediately released a statement saying that he had expectexdan override. “He’s disappointed with this actio n butthat doesn't change his belief that we can exercis e our Second Amendment rights and common sense at the same time,” spokeswoma n Lydia Lenker said. “He believes guns and bars simply don't mix, and this legislatiojn doesn’t provide the propet safeguards to ensurepublic safety. Gov.
Bredesen stands by his decision to veto the Bredesen had vetoed the bill flanked by law enforcement officialsw who said the new law would create more issues than it Some restaurateurs were also opposed tothe bill, sayingy it would hurt business in an already strugglingt industry. Randy Rayburn, owner of Nashville'ds Sunset Grill, posted a sign in his windo earlier this weeksaying “No Guns The state Senate is also expected to achiev e a majority vote to override the governor’as veto, effectively making guns in restaurants legal.
Thursday, September 29, 2011
Tuesday, September 27, 2011
Europe debt insurance costs rise - MarketWatch
tiqosi.wordpress.com
Europe debt insurance costs rise MarketWatch The spread on five-year Italian credit default swaps widened 8 basis points to 510 basis points, according to data provider Markit. That means it would now cost $510000 annu » |
Saturday, September 24, 2011
Survey: Hiring slowly improving in manufacturing, service sectors - Austin Business Journal:
husydow.wordpress.com
Those two sectors employ more than 90 percent ofthe nation’s private-sectort workers. The Alexandria, Va.-based association’s report is based on a monthly survey of human resourc professionals at more than 500 manufacturing and 500serviceds companies. Employment expectations for June aredown 37.1 percent in manufacturing and down 8.2 percent in the services segment. In the manufacturingh sector, 24.5 percent plan to hire in June, which is the highesft percentage of such companies that said they will add jobs sincreNovember 2008. In addition, 25.9 percent said they will trim In theservices sector, a net total of 24.8 perceng of corporations will create jobs in with 41.
4 percent saying they will hire and 16.6 percent sayingg they will cut jobs. That 41.4 percen represents the highest such tally since September 2008 in that A combination of unemployed people seeking work and less jobs to go arouns means recruiting difficulty in both sectors in May was way down compareed with ayear ago. In the manufacturing sector, a net of 23.8 percentg of companies had less difficulty with recruitinglast month, and in the service sector, a net of 35.8 percent of companies said the same.
Those two sectors employ more than 90 percent ofthe nation’s private-sectort workers. The Alexandria, Va.-based association’s report is based on a monthly survey of human resourc professionals at more than 500 manufacturing and 500serviceds companies. Employment expectations for June aredown 37.1 percent in manufacturing and down 8.2 percent in the services segment. In the manufacturingh sector, 24.5 percent plan to hire in June, which is the highesft percentage of such companies that said they will add jobs sincreNovember 2008. In addition, 25.9 percent said they will trim In theservices sector, a net total of 24.8 perceng of corporations will create jobs in with 41.
4 percent saying they will hire and 16.6 percent sayingg they will cut jobs. That 41.4 percen represents the highest such tally since September 2008 in that A combination of unemployed people seeking work and less jobs to go arouns means recruiting difficulty in both sectors in May was way down compareed with ayear ago. In the manufacturing sector, a net of 23.8 percentg of companies had less difficulty with recruitinglast month, and in the service sector, a net of 35.8 percent of companies said the same.
Thursday, September 22, 2011
Christopher J. Papa Executive Profile
ymekovo.wordpress.com
Mr. Papa has a strong professional backgroundin accounting, SEC tax and risk management. He has also providec advice to clients in the contexgt ofsignificant transactions, such as acquisitions, dispositions, joint ventures, public offerings and otherd capital raising transactions. His experiences include significan t involvement in the initialand follow-on secondaryu public offerings for Gables Residential and Weeke Corporation, the lettered-stock recapitalization of Georgia-Pacific's Timberd Company and the sale-leaseback of a major healthcare company'es investment in real estate. Mr. Papa graduater with a BS in Accounting from Clemson University, and is a CPA.
**All Executived profile data provided byDow
Mr. Papa has a strong professional backgroundin accounting, SEC tax and risk management. He has also providec advice to clients in the contexgt ofsignificant transactions, such as acquisitions, dispositions, joint ventures, public offerings and otherd capital raising transactions. His experiences include significan t involvement in the initialand follow-on secondaryu public offerings for Gables Residential and Weeke Corporation, the lettered-stock recapitalization of Georgia-Pacific's Timberd Company and the sale-leaseback of a major healthcare company'es investment in real estate. Mr. Papa graduater with a BS in Accounting from Clemson University, and is a CPA.
**All Executived profile data provided byDow
Tuesday, September 20, 2011
Fifth Third boosts quarterly dividend to 8 cents - BusinessWeek
asozyrab.wordpress.com
Fifth Third boosts quarterly dividend to 8 cents BusinessWeek Fifth Third Bancorp on Tuesday raised its third-quarter dividend 33 percent to 8 cents per share from the previous quarter's 6 cents, the second increase this year after the regional bank repaid a taxpayer bailout extended during the financial crisis. ... Fifth Third boosts quarterly dividend to 8 cents Fifth Third Bancorp Raises Quarterly Dividend 33% |
Sunday, September 18, 2011
Cheaper enterprise: Low prices, expertise drive Carter's growth - Wichita Business Journal:
doqujamup.wordpress.com
Christopher Carter, who launched the firm out of his Halexs Corners homein 2002, said he expects to open an officed in the Washington, D.C., area by the end of this year and is searchin g for office space in the San Franciscop area to occupy by early 2006. Carter declined to disclose annuall revenue, but in February 2004 said his goal was for CCI to bea $10 millionm company in 2005. He said his firm is on track toreacj $20 million in annual revenue by the end of 2006. The company'x growth is being financed withcash flow.
Carter Consulting, or CCI, has 26 full-tim employees and 58 contract workerzs with officesin Denver, Atlanta, Philadelphia and Cleveland occupiexd by sales representatives and consultants. Cartert anticipates adding up to 20 new employees in the next six five of whom will bein Milwaukee. CCI double its existing office space in Milwaukee at2156 S. Fourtj St. from about 1,200 square feet to 2,500 square feet at the beginninhgof August. Eight employees work there. In May, CCI won a consultingt contract worth upto $5 million annually with , Fla., a division of , New York.
CCI also has contractzs to provide hardware, software, implementation traininyg and support services for SAP systems withHershey Co., Pa.; , Beaverton, Ore.; the U.S. Army; and the U.S. is a publicly traded company basesdin Waldorf, Germany. The company'ws software systems manage information across an entirebusinesw enterprise. One of the drivers behind CCI's growth has been SAP's decision to stop licensingh certain versions of its systems by the end of which is forcing many companiesx using those versions to upgradetheif systems. "Everyone needs to upgradse by the endof 2006," Carter said.
More businesses are also migrating to SAP systems becausre of theGerman company's strong presence in the enterprisd software market, said Jim Lentini, SAP director for Maxxisx Tires International, a CCI client and tire manufacturer in Ga. Some of SAP's biggestr competitors have been involved in acquisitionz over thepast year. , Pleasanton, acquired JD Edwards, in 2004, which was followed by Oracle Corp., Redwood Shores, acquiring PeopleSoft in a $10.3 billion deal in December 2004. "Morw and more people are sticking with SAP for its Lentini said. Carter has marketed CCI since its start as an alternativee consulting resourcefor U.S.
companies seeking to reduce the amounf of work sent to vendors inforeigm countries. Offshore information technology servicd providers can be up to 50 percent cheaper thantheir U.S. counterparts because of cheaperlabor costs. However, Carter believee there are hidden costs related to using offshore vendorzs in the form ofsecurity risks, communicatioh breakdowns and general inefficiencies due to language barrierx and time differences. CCI's rates depenr on the project. In its contract with Siemens, the firm is chargingb $90 per hour for consulting services, almosf 50 percent cheaper than other vendord that maycharge $180 or more per hour for similar Carter said.
For training services, CCI charges aboutf $300 per student, per training class, which Carter says is from $200 to $400 cheapere than the average markeyt rate. Carter said his firm's prices are competitivre withforeign vendors, which has helpeed win new contracts, including one with Lockheeds Martin Corp., Bethesda, Md. "They were amazedr when they saw ourprics quote," Carter said. "More companiesa are starting to bring outsourced work back to the Tim Perkins, information services directord for Amrep Corp., a chemical manufacturere in Marietta, Ga. and CCI client, said the firm'as focus on marketing domestic consulting servicesmakes sense.
"Ths fact that he's someone I can call durin the day is valuableto me. I don't want to have to call someon e at10 p.m. or early in the Perkins said.
Christopher Carter, who launched the firm out of his Halexs Corners homein 2002, said he expects to open an officed in the Washington, D.C., area by the end of this year and is searchin g for office space in the San Franciscop area to occupy by early 2006. Carter declined to disclose annuall revenue, but in February 2004 said his goal was for CCI to bea $10 millionm company in 2005. He said his firm is on track toreacj $20 million in annual revenue by the end of 2006. The company'x growth is being financed withcash flow.
Carter Consulting, or CCI, has 26 full-tim employees and 58 contract workerzs with officesin Denver, Atlanta, Philadelphia and Cleveland occupiexd by sales representatives and consultants. Cartert anticipates adding up to 20 new employees in the next six five of whom will bein Milwaukee. CCI double its existing office space in Milwaukee at2156 S. Fourtj St. from about 1,200 square feet to 2,500 square feet at the beginninhgof August. Eight employees work there. In May, CCI won a consultingt contract worth upto $5 million annually with , Fla., a division of , New York.
CCI also has contractzs to provide hardware, software, implementation traininyg and support services for SAP systems withHershey Co., Pa.; , Beaverton, Ore.; the U.S. Army; and the U.S. is a publicly traded company basesdin Waldorf, Germany. The company'ws software systems manage information across an entirebusinesw enterprise. One of the drivers behind CCI's growth has been SAP's decision to stop licensingh certain versions of its systems by the end of which is forcing many companiesx using those versions to upgradetheif systems. "Everyone needs to upgradse by the endof 2006," Carter said.
More businesses are also migrating to SAP systems becausre of theGerman company's strong presence in the enterprisd software market, said Jim Lentini, SAP director for Maxxisx Tires International, a CCI client and tire manufacturer in Ga. Some of SAP's biggestr competitors have been involved in acquisitionz over thepast year. , Pleasanton, acquired JD Edwards, in 2004, which was followed by Oracle Corp., Redwood Shores, acquiring PeopleSoft in a $10.3 billion deal in December 2004. "Morw and more people are sticking with SAP for its Lentini said. Carter has marketed CCI since its start as an alternativee consulting resourcefor U.S.
companies seeking to reduce the amounf of work sent to vendors inforeigm countries. Offshore information technology servicd providers can be up to 50 percent cheaper thantheir U.S. counterparts because of cheaperlabor costs. However, Carter believee there are hidden costs related to using offshore vendorzs in the form ofsecurity risks, communicatioh breakdowns and general inefficiencies due to language barrierx and time differences. CCI's rates depenr on the project. In its contract with Siemens, the firm is chargingb $90 per hour for consulting services, almosf 50 percent cheaper than other vendord that maycharge $180 or more per hour for similar Carter said.
For training services, CCI charges aboutf $300 per student, per training class, which Carter says is from $200 to $400 cheapere than the average markeyt rate. Carter said his firm's prices are competitivre withforeign vendors, which has helpeed win new contracts, including one with Lockheeds Martin Corp., Bethesda, Md. "They were amazedr when they saw ourprics quote," Carter said. "More companiesa are starting to bring outsourced work back to the Tim Perkins, information services directord for Amrep Corp., a chemical manufacturere in Marietta, Ga. and CCI client, said the firm'as focus on marketing domestic consulting servicesmakes sense.
"Ths fact that he's someone I can call durin the day is valuableto me. I don't want to have to call someon e at10 p.m. or early in the Perkins said.
Friday, September 16, 2011
Cincinnati State, partners win $1.7M STEMM grant - Business Courier of Cincinnati:
azajir.wordpress.com
million grant to aid students pursuing technology-relatexd degrees. The grant is part of $13.w million being awarded by the Boarc of Regents to attract and retaibn students inSTEMM (science, technology, mathematics and medicine) disciplines, according to a news The schools will use the grant moneu to provide scholarships for about 20 students annually, accordingb to the release. Students who are academic high achievers, but unabler to afford four-year colleges, will be For the next five Cincinnati State will recruit four to five studentw for each of five programesit offers: business information systems, computer programminy and database management, software network administration and computer network engineering technology.
The collegde will use the grant money to give eacha $4,700 annualk scholarship and use other resources to pay each student’s remaining costs – about $800 annually. Once the student earns an associate degree, he or she will have the choicre of earninga bachelor’s degree in business administration with a concentratio in business analysis by taking Wilmingtonj College courses on the Cincinnati State campus, or earning a bachelor’s degree in information technologt by taking online courses from the University of Toledo. Wilmingtom College will offer discounted tuitionb and providea $4,700 annual scholarship.
Toled will provide the same amount of scholarshi money but no according tothe release. Cincinnati Statre offers more than 75 associate degrees and 40certificat programs.
million grant to aid students pursuing technology-relatexd degrees. The grant is part of $13.w million being awarded by the Boarc of Regents to attract and retaibn students inSTEMM (science, technology, mathematics and medicine) disciplines, according to a news The schools will use the grant moneu to provide scholarships for about 20 students annually, accordingb to the release. Students who are academic high achievers, but unabler to afford four-year colleges, will be For the next five Cincinnati State will recruit four to five studentw for each of five programesit offers: business information systems, computer programminy and database management, software network administration and computer network engineering technology.
The collegde will use the grant money to give eacha $4,700 annualk scholarship and use other resources to pay each student’s remaining costs – about $800 annually. Once the student earns an associate degree, he or she will have the choicre of earninga bachelor’s degree in business administration with a concentratio in business analysis by taking Wilmingtonj College courses on the Cincinnati State campus, or earning a bachelor’s degree in information technologt by taking online courses from the University of Toledo. Wilmingtom College will offer discounted tuitionb and providea $4,700 annual scholarship.
Toled will provide the same amount of scholarshi money but no according tothe release. Cincinnati Statre offers more than 75 associate degrees and 40certificat programs.
Wednesday, September 14, 2011
Wakefield gets 200th win, Red Sox rout Blue Jays - Boston Globe
llrx-royce.blogspot.com
CBC.ca | Wakefield gets 200th win, Red Sox rout Blue Jays Boston Globe AP Sports Writer / September 14, 2011 BOSTONâ€"Fans chanted Tim Wakefield's name. A teammate sprayed him with champagne. It was about time. Baseb » |
Sunday, September 11, 2011
Friday, September 9, 2011
49ers stadium naming rights could have big payoff - San Francisco Business Times:
http://www.theinsyderz.com/1999/italiano/sicilia/messina/messina.html
Naming rights present a potentiallhy lucrative source of revenue for a with multiyear, multimillion-dollar dealsw struck between teams and companies seeking to get theier names on buildings, in the mouthds of broadcast announcers and in front of millions of fans a But a deal that a few years back mighy have been a source of pride for a businesx now may be a source of Citigroup, for example, is facing intense criticismj for spending $400 million on a stadium deal with the New York Mets whilee accepting billions in bailout dollarws from the federal government.
“Naming rights transactions are more difficultt to come by than they were prior to the saidLew Wolff, co-owner of the Oaklansd Athletics and owner of the San Jose “I believe that’s going to be true not only for the currenft market but for the future, for a long time.” The he said, will probably look for a strong national name to placse on its facility. But many companies that were strongy naming partners in the past are in the financialp services andinsurance industries, and they will be less likelh to spend what some view as unnecessary marketingy dollars going forward. In McAfee Inc.
allowed its 10-year agreement for namintg rights onthe Oakland-Alamed County Coliseum to expire, while Oracle Corp. in 2006 struckk a $3 million per 10-year deal for naming rights on the indoorOaklane arena. Wolff said the Earthquakes organization is workinyg with the William Morris Agencyy on naming andbranding issues. Amwayy Global in January strucka three-year agreement with the team to have its name placede on team uniforms. Terms of that deal were not “The 49er brand is outstanding, and if there’s any brand someone might want toseek out, it’s them,” Wolff said. “But every deal is different.
” When the San Jose Sportsw Authority and the city were in the process of striking a deal to brands the home of the SanJose Sharks, it was nearly Compa q Computers — which at the time was a Houston company wanting to build up its Siliconh Valley presence. Malcolm Bordelon, executiv vice president of business operations for the SanJose Sharks, said the day the signagd was to go up, Compaq called and said it had been acquiredr by Hewlett-Packard Co. HP, he said, did extensivde research before going forwards with thenaming deal, figuringf out how many times its name would be said publicly and how its brandx would be featured in the building.
“Wew also researched naming deals, and what we foundf is that it’s all over the map unbelievably varied,” Bordelon said. “I’m not sure how to personifyh the process the 49er s will face other thansaying it’s going to be very In addition to Sharks games, the venue hosts concertsx and other sporting events each year. While namin rights at HP Pavilion fell underf the purview of the city because the facilitty ispublicly owned, Santa Clara Assistant City Manager Ron Garrat said the naming rights deal for the 49ers would fall exclusively with the team.
“We tried to get the Santwa Clara 49ers on the front end ofthe deal, and they weren’tf willing to do that, understandably,” Garratt If it comes time for the 49eras to seek out a naming partner, they woulx probably enlist the help of a third-partgy expert, a sports marketing dealmakert that can tell them what the team’s branc is worth. Some of the top sport s marketing dealmakers are IMG which has offices arounxdthe country, and 16W Marketing of New A third well-known firm, Bonham Grou p of Denver, shut down in Januaryg after its primary banker reduced its credi t line.
Deals Bonham negotiated included SanDiego Padres’ Petcko Park and the Seattle Seahawks’ Qwestg Field. David Peart, the vice presiden t of business partnerships for thePittsburghj Penguins, was until last June the vice presidenr of sales and marketing for the 49ers. He said “yohu want to make sure you measurwe twice” before assigning value to a naminygrights deal. “A company will be lookiny at what its primary entitlementswill be. From integration of your products intothe building, where you fit into the architecturaol design of the building,” Peart said. “Oncd the shovels hit the ground, you want the naminy partner in place.
” The team will face an uphillp battle in the name game because naming rights as a marketingy tool have fallen outof favor. Two propertiesx shopping for a name now are the New York Giantws stadium and the DallasCowboys stadium, both of whicyh Peart said are “super high profile” but are havingg trouble finding a name. “z pure brand play is really difficult in this day and age for a companty to justify to its shareholders and stakeholders and Peart said. “When you’re thinking abour laying off people andsaying you’re going to spenx $5 million a year for 30 years to put your name on a it’s a tough row to hoe.
”
Naming rights present a potentiallhy lucrative source of revenue for a with multiyear, multimillion-dollar dealsw struck between teams and companies seeking to get theier names on buildings, in the mouthds of broadcast announcers and in front of millions of fans a But a deal that a few years back mighy have been a source of pride for a businesx now may be a source of Citigroup, for example, is facing intense criticismj for spending $400 million on a stadium deal with the New York Mets whilee accepting billions in bailout dollarws from the federal government.
“Naming rights transactions are more difficultt to come by than they were prior to the saidLew Wolff, co-owner of the Oaklansd Athletics and owner of the San Jose “I believe that’s going to be true not only for the currenft market but for the future, for a long time.” The he said, will probably look for a strong national name to placse on its facility. But many companies that were strongy naming partners in the past are in the financialp services andinsurance industries, and they will be less likelh to spend what some view as unnecessary marketingy dollars going forward. In McAfee Inc.
allowed its 10-year agreement for namintg rights onthe Oakland-Alamed County Coliseum to expire, while Oracle Corp. in 2006 struckk a $3 million per 10-year deal for naming rights on the indoorOaklane arena. Wolff said the Earthquakes organization is workinyg with the William Morris Agencyy on naming andbranding issues. Amwayy Global in January strucka three-year agreement with the team to have its name placede on team uniforms. Terms of that deal were not “The 49er brand is outstanding, and if there’s any brand someone might want toseek out, it’s them,” Wolff said. “But every deal is different.
” When the San Jose Sportsw Authority and the city were in the process of striking a deal to brands the home of the SanJose Sharks, it was nearly Compa q Computers — which at the time was a Houston company wanting to build up its Siliconh Valley presence. Malcolm Bordelon, executiv vice president of business operations for the SanJose Sharks, said the day the signagd was to go up, Compaq called and said it had been acquiredr by Hewlett-Packard Co. HP, he said, did extensivde research before going forwards with thenaming deal, figuringf out how many times its name would be said publicly and how its brandx would be featured in the building.
“Wew also researched naming deals, and what we foundf is that it’s all over the map unbelievably varied,” Bordelon said. “I’m not sure how to personifyh the process the 49er s will face other thansaying it’s going to be very In addition to Sharks games, the venue hosts concertsx and other sporting events each year. While namin rights at HP Pavilion fell underf the purview of the city because the facilitty ispublicly owned, Santa Clara Assistant City Manager Ron Garrat said the naming rights deal for the 49ers would fall exclusively with the team.
“We tried to get the Santwa Clara 49ers on the front end ofthe deal, and they weren’tf willing to do that, understandably,” Garratt If it comes time for the 49eras to seek out a naming partner, they woulx probably enlist the help of a third-partgy expert, a sports marketing dealmakert that can tell them what the team’s branc is worth. Some of the top sport s marketing dealmakers are IMG which has offices arounxdthe country, and 16W Marketing of New A third well-known firm, Bonham Grou p of Denver, shut down in Januaryg after its primary banker reduced its credi t line.
Deals Bonham negotiated included SanDiego Padres’ Petcko Park and the Seattle Seahawks’ Qwestg Field. David Peart, the vice presiden t of business partnerships for thePittsburghj Penguins, was until last June the vice presidenr of sales and marketing for the 49ers. He said “yohu want to make sure you measurwe twice” before assigning value to a naminygrights deal. “A company will be lookiny at what its primary entitlementswill be. From integration of your products intothe building, where you fit into the architecturaol design of the building,” Peart said. “Oncd the shovels hit the ground, you want the naminy partner in place.
” The team will face an uphillp battle in the name game because naming rights as a marketingy tool have fallen outof favor. Two propertiesx shopping for a name now are the New York Giantws stadium and the DallasCowboys stadium, both of whicyh Peart said are “super high profile” but are havingg trouble finding a name. “z pure brand play is really difficult in this day and age for a companty to justify to its shareholders and stakeholders and Peart said. “When you’re thinking abour laying off people andsaying you’re going to spenx $5 million a year for 30 years to put your name on a it’s a tough row to hoe.
”
Wednesday, September 7, 2011
State unveils Web tool for surgery comparison shoppers - Sacramento Business Journal:
ufysyho.wordpress.com
A heart bypass, for example, costs $149,219 at Sutter Memoria and $298,257 at the . A C-Section coste $22,710 at Mercy General and $31,093 at Sutterf Memorial. The database ranges from gallbladder surgerg to heartvalve replacement. It also include the total number of procedure s performed atthe hospital, chargew per day and average length of stay. The priceas are not what the typicalhealthn plan, Medicare or Medi-Cal but they do provide the averagde sticker price charged to patients withou t insurance. “As consumers are presented with more decisions aboutt their healthcare options, the value of cost and pricer information is substantial,” Dr.
David director of the Office of Statewid e Health Planningand Development, said in a press The agency already rolled out an Interneft tool that collects and displaysa hospitals’ free and discount payment policies. Both are available at oshpd.ca.gob or by . One big hole in the new database is that it does not reporgt pricing informationfor hospitals. A health plan and healt system, Kaiser does not bill patients directly. Information abouty the number of procedures and average length of stay is reporte d forKaiser hospitals, however.
A heart bypass, for example, costs $149,219 at Sutter Memoria and $298,257 at the . A C-Section coste $22,710 at Mercy General and $31,093 at Sutterf Memorial. The database ranges from gallbladder surgerg to heartvalve replacement. It also include the total number of procedure s performed atthe hospital, chargew per day and average length of stay. The priceas are not what the typicalhealthn plan, Medicare or Medi-Cal but they do provide the averagde sticker price charged to patients withou t insurance. “As consumers are presented with more decisions aboutt their healthcare options, the value of cost and pricer information is substantial,” Dr.
David director of the Office of Statewid e Health Planningand Development, said in a press The agency already rolled out an Interneft tool that collects and displaysa hospitals’ free and discount payment policies. Both are available at oshpd.ca.gob or by . One big hole in the new database is that it does not reporgt pricing informationfor hospitals. A health plan and healt system, Kaiser does not bill patients directly. Information abouty the number of procedures and average length of stay is reporte d forKaiser hospitals, however.
Monday, September 5, 2011
Dale Farm Travellers get eviction date - The Guardian
http://razercpl.com/main.shtml?tournament
BBC News | Dale Farm Travellers get eviction date The Guardian Members of the McCarthy family at Dale Farm Travellers site in Essex. Photograph: Ian Nicholson/PA Travellers living on the UK's largest illegal settlement, at Dale Farm in Essex, have been told they will be evicted from the land on 19 September. ... Dale Farm: Essex travellers' eviction dates set Travellers' eviction in two weeks Travellers urge supporters to prevent eviction |
Saturday, September 3, 2011
DayJet files bankruptcy, but value of jets is still up in the air - South Florida Business Journal:
doqujamup.wordpress.com
DayJet filed for bankruptcy the same day itslargest , the Albuquerque, N.M.-based suppliefr of DayJet’s aircraft, sent employees packing aftet telling them they wouldn’ get their paychecks. Eclipse filed for Chapter 11 bankruptcyon Nov. 25. Accordingy to DayJet’s bankruptcy filing, Eclipse has a $16 millio n claim in the the largest claimby far. DayJet, whicjh stopped flying in mid-September after less than a year inthe air, was Eclipse’sz main customer.
DayJet citex a failure to obtain capitak as the main reasonn itstopped flying, but also blamed Eclipsew for failing to install missing equipment or repairf technical discrepancies in accordance with the terme of DayJet’s aircraft purchase The company also listse the , Trade and Economic Development as an unsecurede creditor, with $2 million in a claim disputed by DayJet. In 2006, Florida gave DayJet a $2 milliomn grant, with the expectation that the company would retaihn 56 existing jobs and creates595 more. The bankruptcy attachments describe $15 million in security depositswith utilities, landlordws and others.
DayJet’s bankruptcy attorney, Stuart Brown of and Dodgs in Wilmington, Del., said some of the $15 millio was in deposits to Eclipse for the purchaseeof planes. DayJet still owns the 28 Eclipse jets it had when it ceased but those planes were partially financedby Eclipse, Brown said. In 2007, DayJet said it had orderw to purchase 239 jetsfrom Eclipse. With Eclipsee on the skids, the value of DayJet’s 28 jets is an open said Mike O’Keeffe, senior VP of aircraft salee at ’s , which specializeds in sellingused planes. O’Keeffre estimated that Eclipse jets were selling forabout $1.6 but added that the price will almosf certainly drop now.
The jets can stilp be serviced, but likely delays in getting partsand back-end support may scare buyers away. “Peoplse who buy those kinds ofaircraft don’tr tolerate that,” he said. “As an aircraftt appraiser, I wouldn’t even attempt to put a value on that As recentlyas Nov. 11, DayJet founder and Chairman Ed Iacobuccj told the Business Journal he was still hoping to restart operationes with a smallerfleet – if DayJeg could secure $5 million in capital.
The company launched with a sophisticated plan to use streamline software processes anda per-seat, on-demancd flying model to efficiently fly customers to regional The original goal, said who also started software giant , was to quicklyg ramp up to 500 planes. Although DayJet had 28 planes, it regularly flew abouf 12, he said. DayJet was building a very satisfier groupof fliers, but it had only reachedx an estimated 5 percent to 10 percenf of the potential market before the cash ran out, Iacobucci said in the Nov. 11 interview.
There wasn’y enough time to market the company’a novel approach and reap the fruit of its automateclogistical systems, he added, noting had DayJet doubled its customers, it would have been breakinfg even. From the company’s “our No. 1 problem we recognized was education [of potentialo customers],” he said. “Perhaps, if there was one thintg we did wrong, it was targeting a large-scale model too quickly.
”
DayJet filed for bankruptcy the same day itslargest , the Albuquerque, N.M.-based suppliefr of DayJet’s aircraft, sent employees packing aftet telling them they wouldn’ get their paychecks. Eclipse filed for Chapter 11 bankruptcyon Nov. 25. Accordingy to DayJet’s bankruptcy filing, Eclipse has a $16 millio n claim in the the largest claimby far. DayJet, whicjh stopped flying in mid-September after less than a year inthe air, was Eclipse’sz main customer.
DayJet citex a failure to obtain capitak as the main reasonn itstopped flying, but also blamed Eclipsew for failing to install missing equipment or repairf technical discrepancies in accordance with the terme of DayJet’s aircraft purchase The company also listse the , Trade and Economic Development as an unsecurede creditor, with $2 million in a claim disputed by DayJet. In 2006, Florida gave DayJet a $2 milliomn grant, with the expectation that the company would retaihn 56 existing jobs and creates595 more. The bankruptcy attachments describe $15 million in security depositswith utilities, landlordws and others.
DayJet’s bankruptcy attorney, Stuart Brown of and Dodgs in Wilmington, Del., said some of the $15 millio was in deposits to Eclipse for the purchaseeof planes. DayJet still owns the 28 Eclipse jets it had when it ceased but those planes were partially financedby Eclipse, Brown said. In 2007, DayJet said it had orderw to purchase 239 jetsfrom Eclipse. With Eclipsee on the skids, the value of DayJet’s 28 jets is an open said Mike O’Keeffe, senior VP of aircraft salee at ’s , which specializeds in sellingused planes. O’Keeffre estimated that Eclipse jets were selling forabout $1.6 but added that the price will almosf certainly drop now.
The jets can stilp be serviced, but likely delays in getting partsand back-end support may scare buyers away. “Peoplse who buy those kinds ofaircraft don’tr tolerate that,” he said. “As an aircraftt appraiser, I wouldn’t even attempt to put a value on that As recentlyas Nov. 11, DayJet founder and Chairman Ed Iacobuccj told the Business Journal he was still hoping to restart operationes with a smallerfleet – if DayJeg could secure $5 million in capital.
The company launched with a sophisticated plan to use streamline software processes anda per-seat, on-demancd flying model to efficiently fly customers to regional The original goal, said who also started software giant , was to quicklyg ramp up to 500 planes. Although DayJet had 28 planes, it regularly flew abouf 12, he said. DayJet was building a very satisfier groupof fliers, but it had only reachedx an estimated 5 percent to 10 percenf of the potential market before the cash ran out, Iacobucci said in the Nov. 11 interview.
There wasn’y enough time to market the company’a novel approach and reap the fruit of its automateclogistical systems, he added, noting had DayJet doubled its customers, it would have been breakinfg even. From the company’s “our No. 1 problem we recognized was education [of potentialo customers],” he said. “Perhaps, if there was one thintg we did wrong, it was targeting a large-scale model too quickly.
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