Friday, October 14, 2011
BB&T income falls - Washington Business Journal:
The Winston-Salem-based BB&T (NYSE:BBT) saw nonperforming assets and credit losse s rise duringthe quarter, but were within the rangde the bank was expecting, said CEO Kelly Nonperforming assets increased to 1.92 percent of total assetss as of March 31, compared to 1.34 percenr on Dec. 31. The provision for credit lossewtotaled $676 million in the first quarter of 2009, up by $453 millionh from a year earlier. “Our overalpl earnings were relatively strong given the higher loan losses and additional loan loss and our capital levelw and earnings powerremain strong,” King said.
BB&Tg said it is continuing to make use of the moneyu it received from the federal governmenr under theTARP program. The bank said it made abouyt $1.9 billion in “additional” loans sincs it sold $3.1 milliobn of preferred shares tothe government. BB&T paid $40 millionb to the U.S. Treasury as dividends on thoses shares in thefirst quarter. King said BB&T’s board boosted dividends to common shareholdersby 2.2 percenyt for the first quarter from a year ago, to 47 centx per share. As of March 31, BB&T had $143.4 billion in total assets.
Tuesday, October 11, 2011
Gas prices continue to rise - Denver Business Journal:
The average retail price of a gallonb of regular unleaded in Florida rose 6 centdsto $2.47 last week, according to . West Palm Beach had the highest prics per gallon of unleaded regular inthe tri-countyy area at $2.56 a gallon, up from $2.15 a month ago. Regular gas in Miamiu is selling for just a penny lessat $2.55, up from $2.134 a month ago. Fort Lauderdals reported the cheapest priceat $2.52, up from $2.112 last month. "The curreng retail price trend has been pushed byrefinery reductions, crudde and wholesale price increases, but not by consumerr demand," said Gregg managing director of public relations, AAA Auto Club Crude oil on the closed last week at $66.31 a up $4.
64 a barrel over the previous week. for gas prices to hit $3, crude would need to trad e atabout $100 per barrel, well above even the highest projections this year of $70 to $75, accordinhg to Tom Kloza, publisher and chief oil analyst at .
Sunday, October 9, 2011
GSI details revenue errors, probe widens - Business Courier of Cincinnati:
The Bedford, Mass.-based company also said its legal counselo and audit committee were reviewing revenue bookingsa within its precision technology division for the same period s to determine whether similar adjustments are needed. GSI (Nasdaq: GSI) said the affected revenue stemmed from accountinvg errors and the timing recorded forcertain transactions. Expecteed adjustments include: The situation has caused the company to delay the release of its financial resultato regulators. Last month, GSI said it was nearingy a point when it coulcd restate those results and submitg to regulators results from its fiscal first quartef endedApril 3.
Nonetheless, the company said its filing delayx have prompted a delisting notice from the and triggered negotiationss with creditors to restructureits . GSI said in its regulatoryu filing Tuesday that on June 11 it stoord beforethe Nasdaq’s Listing Qualifications Panel to request a stay of its pendinh delisting. The company is still awaiting a rulingh onthe matter. In GSI said a decline in bookings in the fourt h and first quarters forced it to restructure its operations and shaved millions in costs fromits books. The company cut 158 workers in the first quarter and anotheer 16 employeesin April. Those changes will result in roughlty $9 million in annual savings.
Friday, October 7, 2011
Griz prep for loud cacophony of kazoos - The Missoulian
Griz prep for loud cacophony of kazoos The Missoulian This week it was the buzzing of kazoos. The No. 16 Montana Grizzlies worked in their game plan against Idaho State this week with kazoos loudly piped in through the sound system. All because the 2-3 Bengals have been handing them out at home games this ... |
Wednesday, October 5, 2011
Washington U. lands $19M from NIH - St. Louis Business Journal:
The grants are part of the Human Microbiome an ongoing effort to catalogbthe bacteria, viruses, fungi and othed microorganisms that naturally coexist in or on the In all, the on Tuesday announced $42 million in granf awards to a dozen U.S. institutions. The largest portion, a four-yeaf grant totaling $16 million, goes to Washington University'x , said university spokeswoman Carolinwe Arbanason Tuesday. WU genome led by George Weinstock, will decode the DNA of about 400 microbe in collaboration with scientists at three other DNAsequencinbg centers.
WU researchers also received anothert $3 million for three pilot demonstration projectws that investigate the link betwee n changes in microbial communities andcertaib diseases. These one-year projects involve samplintg the microbiomes of both healthyt andill volunteers. By comparing differences in microbial communities between thetwo groups, researcheres hope to determine how microbes influence the risk of The genome and microbwe money Washington University was awarded is not from the federal stimuluzs package, according to Arbanas. 's 2,100 employed and volunteer faculty physicians also are the medical staffof Barnes-Jewish and St. Louiws Children's hospitals.
Through its affiliations with Barnes-Jewish and St. Louisw Children's hospitals, the School of Medicine is linkedto .
Monday, October 3, 2011
Plug powering a Union College dorm - Tampa Bay Business Journal:
Testing of the Latham company’ (Nasdaq: PLUG) 5-kilowatt GenSys system will be done atthe college’sd Beuth House residence hall. The combined heat and powerf unit will convert natural gas into electricitt and use less power offthe grid. The contracrt is valued at $500,000, Plug Power officialss said. National Grid will use the data collecteds in the trial to refinethe product. GenSys is manufacturedx through Plug’s continuous power A larger GenSys generatod designed for the telecommunications sector is being testedrin India, Andy the company’s CEO, said in a recent interview. That fuel cell operateas on liquifiedpetroleum gas.
The pilot project was firstg announced inNovember 2008. At the time, Nationa l Grid hadn’t selected a customee for the trial. Union college wanta the system running before students return for the fall It will require National Grid to installk a pipe that will deliver natural gas to the fuel The trial also will be used to educate who will be able to see the technologg and use the data to analyzethe system’sx performance, said Stanley Blazewicz, vice president of Global Technology for Nationalo Grid. Union college students will assist in the Plug has been developing the residentialGenSys fuel-cell systenm for a decade.
It is expectec to reduce home energy costsby 20-40 and reduce home carbon emissions by 35 The partnership with National Grid will expedite the product’sx commercialization, Marsh said. He said the residentiak market is a growing onefor energy-efficientt technology. On Monday, Plug announced a $1.5 million contract to providw 19 ofthe company’s GenDrive hydrogen-powered fuel cellws to power a fleet of the Departmenty of Defense’s lift trucks. Plug has generater commercial revenue from its continuous motive powerand back-up poweer products.
Of those products, its GenDrive motive-powerf units—used in fleets for heavy-duty lifting—are seeing the most traction, Gerry Anderson, Plug’s senior vice president and chietffinancial officer. He said the company has an ordert with India to supply the country with some of its largerGenSys units. He declined to elaboratd on the agreement. The continuous-powere units replace diesel generators. The only one of the company’sx products that has not generated revenue isGenSy Blue, the residential heating system beinb tested at Union College.
Saturday, October 1, 2011
Bank charging debit card fee - Daily American Online
Daily American Online | Bank charging debit card fee Daily American Online Starting early next year, Bank of America plans to start charging customers a $5 fee in any month that they use their debit card to make a purchase. Anne Pace, a Bank of America spokeswoman, said in a release issued Thursday that customers will only be ... Bank of America joins banks charging monthly debit card fees Banks Are Now Charging You To Use Your Debit Card Banks to start charging customers for using debit cards |