framptongeqeaqu1461.blogspot.com
Federal regulations aimed at putting more distancer between mortgage brokers and home appraiserx require lenders touse “appraisal management to order appraisals. The idea is to prevent brokers from pressurin appraisers to hitcertain However, some say the new rules also are pushing up the pricew and length of time for The new rules went into effect May 1 as part of the “Homew Valuation Code of Conduct” which keeps mortgage brokers from hand picking appraisers. In fact, the two are not allowedf to communicateat all. Only banks that show they selecrt appraisers through a strict rotation systekm can contactappraisers directly.
Nashville’s uses a Web-bases appraisal management company and can only communicate with an assigned appraiserr by posting a question onthe Web, says Ross senior vice president of mortgage lending. Kinney says the additionap steps have pushed up the cost of appraisalss by 6 percent to 10 percent for the companytthey use. Others are even “It’s a substantial difference in the way mortgagewsare originated. I’m sure that will bring more which is agood thing,” Kinnehy says. “But I’m not sure how it is goingh to affecthome buyers. If they are non-experienced or out-of-market it will be interestinh to see how thatplays out.
” Appraisetr Danny Wylie of in Nashville says he won’yt deal with most appraisal management companies becaused they take a high percentage of his fee. He charges $400 to $450 as an experiencerd appraiser, but management firms often want to hire himfor $275 or Wylie says he’s considered setting up his own managementf company, but he says he would have to hire less experiencedc appraisers to make it work financially. Despite the Wylie thinks the changes are better for He says he lost business becausehe wouldn’ t lie on an appraisal. That bank never called him again.
“One of the problemds has been that unscrupulous brokers could pick unscrupulous appraisersx who would pick whatever valurwas needed,” he says. The new regulations also set up a whistleblowet hotline for those suspectingtsuch activity. Under the new system, appraisalzs take longer because the market is more complex and the rulese requiremore data, Wylie says. Lenders want information on absorption rates, supply and economi c conditions, he says. One local company, , has seen a surgs of business fromthe regulations.
The family-owned businesss in Franklin is primarily a mortgagedcompliance business, which means it checks loans for A few years ago, the company developedf a database on appraisers, with information such as how many appraisals they’ve done and if they’vew ever been involved in a high-risk With the new requirements, the appraisal managementt side of Quality Mortgage’s businessx has ballooned — up 500 percentr since last year, says executivw vice president Tommy Duncan. Duncan’s phone started ringing in Marcy and April with lenders lookin g for appraisalmanagement services.
He’sd hired three people in the past threes months and is looking to expand to alarger He’s already had to turn down two lenders on the West Coast because he couldn’t handle the volume of work they had. Duncan says he chargew about 25 percent to 35 percent of the appraisalo fee for the management adding that some management firmzs charge as much as Appraisal prices depend on the city and can rangwefrom $350 to $450. Duncan supporta the conduct code. He, too, has been cut off in the past by a lendewho didn’t like one of his appraisals. “Mg job is to rotate appraisals amonhg credentialed appraisers without any discrimination or he says.
The conduct code “is probably a positivs step to mend some of the problems that are already out there, but I’m not saying its a cure Part of the new regulations is that anyonre who makes money off a real estate deal can’t speak to the Dianne Payne, regional production manager for the mortgager division of Memphis-based , says her bank has been usin g a rotation system to select appraiseras for a year and half, instead of an appraisak management firm. It eliminates any as agents can no longer requestspecific appraisers, she says. “It’w a more level playing she says.
Friday, March 30, 2012
Wednesday, March 28, 2012
State OKs grant for Mars Petcare - Business First of Columbus:
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The Ohio Department of Development saidthe $2.3 milliojn in Rapid Outreach and Roadwork Developmenty Account grants could create 825 jobs and retaihn another 1,654 at the companies receiving the Rapid Outreach grants assisy companies and communities that are creating or retaininfg jobs in Ohio, whilew Roadwork Development grants help communities improve roadway for companies promising job creation. The roadwork grantz are funded with gas taxez and are restricted to publicroad projects. will receivr a $25,000 Rapid Outreach grantg to help payfor $8.1 million worth of machineru and equipment for a planned expansion in Columbus.
The pet food producedr in March also received approval fora seven-year, 50 perceng state tax credit in support of the $10 millio n plan to expand its 5115 Fisher Road plant. It’d also in line for a $20,000 Ohio Investmenty in Training Program The company in its application said the projecr could create 25 jobs andretain 430. The state said Columbua is in competition with Mars Petcar e sites in Arkansas and South Dakota for the which will involve moving equipmenty from a facility outside Los Angelees for a new pouchproductionb line. Mars Petcare, a subsidiary of food conglomeratewith 2,875 makes pet snacks and pet food undert the brand names Pedigree, Whiskas, Cesafr and Royal Canin.
It has been in Columbuas since 1972. For information on the othed projectsreceiving funding, click .
The Ohio Department of Development saidthe $2.3 milliojn in Rapid Outreach and Roadwork Developmenty Account grants could create 825 jobs and retaihn another 1,654 at the companies receiving the Rapid Outreach grants assisy companies and communities that are creating or retaininfg jobs in Ohio, whilew Roadwork Development grants help communities improve roadway for companies promising job creation. The roadwork grantz are funded with gas taxez and are restricted to publicroad projects. will receivr a $25,000 Rapid Outreach grantg to help payfor $8.1 million worth of machineru and equipment for a planned expansion in Columbus.
The pet food producedr in March also received approval fora seven-year, 50 perceng state tax credit in support of the $10 millio n plan to expand its 5115 Fisher Road plant. It’d also in line for a $20,000 Ohio Investmenty in Training Program The company in its application said the projecr could create 25 jobs andretain 430. The state said Columbua is in competition with Mars Petcar e sites in Arkansas and South Dakota for the which will involve moving equipmenty from a facility outside Los Angelees for a new pouchproductionb line. Mars Petcare, a subsidiary of food conglomeratewith 2,875 makes pet snacks and pet food undert the brand names Pedigree, Whiskas, Cesafr and Royal Canin.
It has been in Columbuas since 1972. For information on the othed projectsreceiving funding, click .
Monday, March 26, 2012
First Niagara pays back TARP funds - Business First of Buffalo:
igoeosysata1533.blogspot.com
The Pendleton-based company (NASDAQ: FNFG), the parenf of First Niagara has redeemedall $184 million received from the preferrede stock purchased by the underd the Troubled Asset Relief Programk (TARP). During its seven-month investment in First Niagara, the government earned more than $4.8 million in preferrefd stock dividends, exclusive of any value it may realizr related to the repurchase of the warranrt byFirst Niagara, said a company statement. In April, Firs t Niagara raised $380.4 million in a follow-on stock offering.
Thosse funds, coupled with another $115 milliomn raised in October 2008, put the “company in a strongert capital position than that which existed prior to the governmentt investmentin November,” officials said. Firsr Niagara management also reaffirmed its beliefg that itis “well positioned to withstanf extreme and unprecedented economic conditions, basecd on even more severe economic assumptions than thoss used by the in last month’w Supervisory Capital Assessment Program, or stress tests, of the nation’s largest banks.
”
The Pendleton-based company (NASDAQ: FNFG), the parenf of First Niagara has redeemedall $184 million received from the preferrede stock purchased by the underd the Troubled Asset Relief Programk (TARP). During its seven-month investment in First Niagara, the government earned more than $4.8 million in preferrefd stock dividends, exclusive of any value it may realizr related to the repurchase of the warranrt byFirst Niagara, said a company statement. In April, Firs t Niagara raised $380.4 million in a follow-on stock offering.
Thosse funds, coupled with another $115 milliomn raised in October 2008, put the “company in a strongert capital position than that which existed prior to the governmentt investmentin November,” officials said. Firsr Niagara management also reaffirmed its beliefg that itis “well positioned to withstanf extreme and unprecedented economic conditions, basecd on even more severe economic assumptions than thoss used by the in last month’w Supervisory Capital Assessment Program, or stress tests, of the nation’s largest banks.
”
Saturday, March 24, 2012
Distractions aside, Tim Tebow trade could work out well for Sanchez and Jets - Yahoo! Sports
andreychukuze.blogspot.com
Yahoo! Sports | Distractions aside, Tim Tebow trade could work out well for Sanchez and Jets Yahoo! Sports By Michael Silver, Yahoo! Sports Mar 23, 11:18 am EDT He captivated the footb » |
Thursday, March 22, 2012
Martek Biosciences plans appeal of E.U. ruling on infant formula patent - Business First of Columbus:
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That was word from the Columbia companyt Tuesday inregulatory filings. The patent office in the Hague, Netherlands uphelde a patent that was granted to the biotec firm in 2007 but was challenged by food manufacturersand Ltd. The patenty office said Martek’s patent applies to Martek’ds nutritional oil in infanft formula, but is not covered when it is blended with certain fish oils used ininfanyt formula.
Martek (NASDAQ: MATK) expects the appeal will take one to two yearsd and said it does not believe the ruling will impact its Derivedfrom algae, the company’s nutritional oils are also used in dietarhy supplements and food products, such as yogurt and The company has been aggressively expanding its infanft formula business overseas as it has nearly saturates the U.S. market. Martek warned in its last earnings statemeng that its infant formula sales in the third and fourthj quarters could drop as retailers trim theitr inventories ofthe product. The company anticipates deman d will pick up infiscal 2010.
That was word from the Columbia companyt Tuesday inregulatory filings. The patent office in the Hague, Netherlands uphelde a patent that was granted to the biotec firm in 2007 but was challenged by food manufacturersand Ltd. The patenty office said Martek’s patent applies to Martek’ds nutritional oil in infanft formula, but is not covered when it is blended with certain fish oils used ininfanyt formula.
Martek (NASDAQ: MATK) expects the appeal will take one to two yearsd and said it does not believe the ruling will impact its Derivedfrom algae, the company’s nutritional oils are also used in dietarhy supplements and food products, such as yogurt and The company has been aggressively expanding its infanft formula business overseas as it has nearly saturates the U.S. market. Martek warned in its last earnings statemeng that its infant formula sales in the third and fourthj quarters could drop as retailers trim theitr inventories ofthe product. The company anticipates deman d will pick up infiscal 2010.
Tuesday, March 20, 2012
Regular, detailed job reviews can aid in employee retention - Phoenix Business Journal:
oryzacody.wordpress.com
Everyone likes to know where they stand. The annual employee review doesn’ have to be an event dreadex by the employee and the manager if both take the time and effortyto prepare. Performance reviews are a formal way to assess what each employees contributes to the company and to identifyythat person’s strengths and weaknesses. Theres are several ways a company canconductf reviews. Deborah Keary, human resources director at the , said good companiesd should holdtwo reviews: an annual revieww with a rating, and a mid-year review for coachiny and career development and improvement. The Societ for Human Resource Management ( ), www.shrm.
org, is the world’ largest professional association devoted to humanresourcer management. Keary said the best format for the revieaw is to start off on a positivr note with descriptions of what the employededoes well. Then a managerd can talk about areas thatneed improvement, with suggestions on how the managee can help. Employees should be allowed time to make comments and askfor help. Dawn Adams, a member of SHRM’w employee relations panel and CEOof Wisconsin-based recommends quarterly reviews.
“Quarterly is best so that expectationx are continually shared and informal feedback should be provideds to the employee throughoutthe year,” Adams She said having the employee conduct a written self-evaluation first is helpful. It helps the employee explai the value of their contributions as well as remine the managerof them. The Nationapl Federation of Independent Business suggests that managers create a description for each job they supervisd and make sure the employer knows the contents of the job descriptio n prior to holding the Managers should also keep trackof records, such as absenteeisk and tardiness, and keep notess to document specific examples of work done well or One of the most challenging rules for bosses in writingg and conducting performance reviews is to stay away from anything personal or unrelated to the job.
Even though a worker’xs personality may influence how they dothe job, it’zs important for the manager to avoid judgments – “Bob’s a procrastinator” and to instead document how the trait affects performanced – “Bob’s reports missed their deadlines in June, July and September.” “Th review is about the work and how well it is being performed,” Keary said. “It is not abouyt the employee’s private life, personality traits or anything else that is not abouttthe job.
” Adams said not to bring up anythiny that is protected by the law, such as time off relatee to a disability or absences covered by the Family Medical Leave Act. Adams also said it is important that the manager not compare the employees to others inthe company. The manager should be comparinvg the individual to the specified job Keary said reviews are effective management tools if they are done oftenn anddone well. “People should be told oftenh how they’re doing and how they can Keary said. “It should be a normalp part ofmanaging people. If that is then the annual review is just a summary without and it’s a good experience.
”
Everyone likes to know where they stand. The annual employee review doesn’ have to be an event dreadex by the employee and the manager if both take the time and effortyto prepare. Performance reviews are a formal way to assess what each employees contributes to the company and to identifyythat person’s strengths and weaknesses. Theres are several ways a company canconductf reviews. Deborah Keary, human resources director at the , said good companiesd should holdtwo reviews: an annual revieww with a rating, and a mid-year review for coachiny and career development and improvement. The Societ for Human Resource Management ( ), www.shrm.
org, is the world’ largest professional association devoted to humanresourcer management. Keary said the best format for the revieaw is to start off on a positivr note with descriptions of what the employededoes well. Then a managerd can talk about areas thatneed improvement, with suggestions on how the managee can help. Employees should be allowed time to make comments and askfor help. Dawn Adams, a member of SHRM’w employee relations panel and CEOof Wisconsin-based recommends quarterly reviews.
“Quarterly is best so that expectationx are continually shared and informal feedback should be provideds to the employee throughoutthe year,” Adams She said having the employee conduct a written self-evaluation first is helpful. It helps the employee explai the value of their contributions as well as remine the managerof them. The Nationapl Federation of Independent Business suggests that managers create a description for each job they supervisd and make sure the employer knows the contents of the job descriptio n prior to holding the Managers should also keep trackof records, such as absenteeisk and tardiness, and keep notess to document specific examples of work done well or One of the most challenging rules for bosses in writingg and conducting performance reviews is to stay away from anything personal or unrelated to the job.
Even though a worker’xs personality may influence how they dothe job, it’zs important for the manager to avoid judgments – “Bob’s a procrastinator” and to instead document how the trait affects performanced – “Bob’s reports missed their deadlines in June, July and September.” “Th review is about the work and how well it is being performed,” Keary said. “It is not abouyt the employee’s private life, personality traits or anything else that is not abouttthe job.
” Adams said not to bring up anythiny that is protected by the law, such as time off relatee to a disability or absences covered by the Family Medical Leave Act. Adams also said it is important that the manager not compare the employees to others inthe company. The manager should be comparinvg the individual to the specified job Keary said reviews are effective management tools if they are done oftenn anddone well. “People should be told oftenh how they’re doing and how they can Keary said. “It should be a normalp part ofmanaging people. If that is then the annual review is just a summary without and it’s a good experience.
”
Sunday, March 18, 2012
MVP will raise rates to ease burden of new taxes; CDPHP will hold firm - Business First of Buffalo:
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Thomas Combs, chief financiakl officer for the Schenectady-based insurer, said the mid-yeatr adjustment is necessary for MVP to paythe $26 million in new and increasecd taxes it was hit with in the state budgegt and still remain profitable. It had a surplus of $8.2 milliomn for the first quarter, after a net loss of $28 million in all of 2008. The state’ws fiscal 2009-10 budget, passed in early and the deficit reduction plan enactedx in February contained morethan $700 milliobn in health insurance taxes, including an increas e in the covered lives assessmen t and a new HMO premium tax.
Capital Districyt Physicians’ Health Plan in Albany counted these as contributing factors inthe $4.3 million net loss it reportedd for the first quarter. It had a surpluw of $4.3 million in the year-ago But Dr. John Bennett, CEO of , said the insuref is “strong enough in other areas that we will not have to ask peoplw to pony up more money to help uspay [the MVP set its rates for 2009 last with consideration given to trends in both medicakl and administrative costs. The goal is to achievs a 90-10 ratio, meaningv 90 percent of every premium dolla r is paid out inmedical costs, with 10 cents coverintg administrative costs.
Combs said the estimates made last year held up well in thefirst quarter. That, plus some corporate belt-tightening and a Marchg rebound in thestock market, allowec MVP to post the $8 million surplus. That is double its net incomre in the first quarterof 2008. As a MVP adds any surplusd topolicyholder reserves. With the July rate MVP expects to maintain its profitabilit ythroughout 2009, as long as the investmenty markets hold steady and the rate increase does not drivew members away, Combs said. As of the end of MVP’s enrollment stood at 743,000 in upstate New Vermont andNew Hampshire.
That represente an increase of 43,000 from a year earlier, and contributed to a 15 percentr increasein revenue. HealthNow New York, the Buffalo-basedf parent of of Northeastern New York in also hadhigher membership, and a 13 percentf increase in revenue compared to a year ago. Spokeswoma Karen Merkel-Liberatore attributed a drop in net incomw to losseson investments. CDPHP also recordef higher revenue, of $319 million versu s $299.5 million in the first quarterof 2008, but Bennetty said that was lower than budgeted—in part because of decline in “The main factor was the soft he said.
“Many people eithe r dropped out of health insurance or are buyingh down tocheaper products. So revenue was less than anticipated.” Bennetg said the soft revenue, couplesd with the taxes and risingmedical costs, all played a part in CDPHP’ws $4.3 million loss. He noted, that the insurer saw some positive trends in thefirsr quarter, such as lower utilizatiojn of medical treatments, and that the loss was actuallyu less than expected. CDPHP expects to brea k even by the end of the year Bennett said, “would be a big accomplishmenft in this environment.
”
Thomas Combs, chief financiakl officer for the Schenectady-based insurer, said the mid-yeatr adjustment is necessary for MVP to paythe $26 million in new and increasecd taxes it was hit with in the state budgegt and still remain profitable. It had a surplus of $8.2 milliomn for the first quarter, after a net loss of $28 million in all of 2008. The state’ws fiscal 2009-10 budget, passed in early and the deficit reduction plan enactedx in February contained morethan $700 milliobn in health insurance taxes, including an increas e in the covered lives assessmen t and a new HMO premium tax.
Capital Districyt Physicians’ Health Plan in Albany counted these as contributing factors inthe $4.3 million net loss it reportedd for the first quarter. It had a surpluw of $4.3 million in the year-ago But Dr. John Bennett, CEO of , said the insuref is “strong enough in other areas that we will not have to ask peoplw to pony up more money to help uspay [the MVP set its rates for 2009 last with consideration given to trends in both medicakl and administrative costs. The goal is to achievs a 90-10 ratio, meaningv 90 percent of every premium dolla r is paid out inmedical costs, with 10 cents coverintg administrative costs.
Combs said the estimates made last year held up well in thefirst quarter. That, plus some corporate belt-tightening and a Marchg rebound in thestock market, allowec MVP to post the $8 million surplus. That is double its net incomre in the first quarterof 2008. As a MVP adds any surplusd topolicyholder reserves. With the July rate MVP expects to maintain its profitabilit ythroughout 2009, as long as the investmenty markets hold steady and the rate increase does not drivew members away, Combs said. As of the end of MVP’s enrollment stood at 743,000 in upstate New Vermont andNew Hampshire.
That represente an increase of 43,000 from a year earlier, and contributed to a 15 percentr increasein revenue. HealthNow New York, the Buffalo-basedf parent of of Northeastern New York in also hadhigher membership, and a 13 percentf increase in revenue compared to a year ago. Spokeswoma Karen Merkel-Liberatore attributed a drop in net incomw to losseson investments. CDPHP also recordef higher revenue, of $319 million versu s $299.5 million in the first quarterof 2008, but Bennetty said that was lower than budgeted—in part because of decline in “The main factor was the soft he said.
“Many people eithe r dropped out of health insurance or are buyingh down tocheaper products. So revenue was less than anticipated.” Bennetg said the soft revenue, couplesd with the taxes and risingmedical costs, all played a part in CDPHP’ws $4.3 million loss. He noted, that the insurer saw some positive trends in thefirsr quarter, such as lower utilizatiojn of medical treatments, and that the loss was actuallyu less than expected. CDPHP expects to brea k even by the end of the year Bennett said, “would be a big accomplishmenft in this environment.
”
Thursday, March 15, 2012
Beige Book: Region
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Consumer spending in the regionm was weak and is expected to remain the closely watchedsurve said, but “an uptick in manufacturing order helped stabilize expectations for futurde production.” The Beige Book also said that “commerciao real estate market conditions deteriorated, and energy activity declinerd further.” Bankers, it said, “reportedd a rise in deposits and stable loan demancd with no erosion in loan quality.” It said consumer price and wage pressurez remained low.
Meanwhile, producer pricex “declined at a slower pace, with some firmsx noting that higher commodity prices boosted material andfuel Overall, the latest regional Beige Book — covering a six-weem period — was somewhat more optimistic than the last released April 15. The report covers the Fed’s Kansasd City-based 10th District. It is basedr on interviews with a sample of businesses representing key industrie ineach district. The reports are anecdotal and do notcontaimn statistics, but they are widely followee and help the Fed to set national economic policy.
The Fed’s 10th District includes Colorado, Nebraska, Oklahoma and Wyoming as well as western Missourio and northernNew Mexico. Formally knownn as the “Summary of Commentary on Current Economic Conditione by FederalReserve District,” the Beige Book is publishedd eight times a year. The lates report covers late Aprilthrough May. The Federalk Reserve’s 10th District is also knowm as the Kansas City district becausethe reserve’s regionall bank is based there. .
Consumer spending in the regionm was weak and is expected to remain the closely watchedsurve said, but “an uptick in manufacturing order helped stabilize expectations for futurde production.” The Beige Book also said that “commerciao real estate market conditions deteriorated, and energy activity declinerd further.” Bankers, it said, “reportedd a rise in deposits and stable loan demancd with no erosion in loan quality.” It said consumer price and wage pressurez remained low.
Meanwhile, producer pricex “declined at a slower pace, with some firmsx noting that higher commodity prices boosted material andfuel Overall, the latest regional Beige Book — covering a six-weem period — was somewhat more optimistic than the last released April 15. The report covers the Fed’s Kansasd City-based 10th District. It is basedr on interviews with a sample of businesses representing key industrie ineach district. The reports are anecdotal and do notcontaimn statistics, but they are widely followee and help the Fed to set national economic policy.
The Fed’s 10th District includes Colorado, Nebraska, Oklahoma and Wyoming as well as western Missourio and northernNew Mexico. Formally knownn as the “Summary of Commentary on Current Economic Conditione by FederalReserve District,” the Beige Book is publishedd eight times a year. The lates report covers late Aprilthrough May. The Federalk Reserve’s 10th District is also knowm as the Kansas City district becausethe reserve’s regionall bank is based there. .
Tuesday, March 13, 2012
Stan Curtis aims to add 'record industry mogul' to resume - Business First of Louisville:
modestofyeyko.blogspot.com
But idea man Stan Curtis has come up with anotherbig project. He has spent the past year workingf to launch an independentf record label calledNX 10-31 Entertainment Inc. The labelo has a handful of youngh popsingers signed, groomefd and ready for air play. The labep was set to debut at a glittery partyy and concert last night at the Key an establishment on Sunset Boulevard in Los Guests expected to attend includedKevin Costner, the bands the Goo Goo Dolls and Van Halen. The in NX 10-31 signifies "next," and 10-31 is the police radiko code for a riot in The company's name is supposed to mesh with the tag line: "America'as Next Music Riot.
" Curtis, a senior vice presiden t with brokerage firm , is well knownb for founding Kentucky Harvesft in 1987 and USA Harvestg in 1989. Working to feed the hungry has broughft Curtis numerous connections with people in theentertainment industry, contacts that are coming in very handyu right now. Curtis said that gettingb famous friends to attend the launch party helpw signal the event is And having people in the entertainmengt industrywith "power" has been helpful in navigating the uncharteed waters of the entertainment industry, he All of the work during the past year has been excitiny and educational, Curtis said.
But what happens next -- as the NX 10-31 artists hit the air wavezs and promotionalcircuit -- is goinb to be even more exciting. Curti admits he knows "squat" about the musicf industry, but he is confident that all businesses are essentiall ythe same, with the only variable beiny what kind of product the busineszs sells. And he is betting that his business skillds and the skills of the other threer stakeholders inNX 10-31 can lead to succesd in an industry he knows little about. Shoulde NX 10-31 succeed in the recordinhg industry, it will be fitting that the song startint it allwas "My Old Kentucky Home.
" Curtis heard the song on a locaol radio station one day in Aprilk 2004, and he thought the singer was pop star Christina Aguilera. Thinking that Aguilera might want to attend theKentuckty Derby, Curtis called the radi station to make sure it was He planned to call Aguilera's manager, who is a so he could invite the singer. But it wasn't Aguilera on the radio. The female voicde belongs to Michelle Stucker, a native of Madison, and a student who was working at the time ata Lowe'a home improvement store. Because such bandsz as R.E.M. and Van Halen had performes in the past to help charities run by getting a second opinion about Stuckeer was only a phonwe call awayfor Curtis.
Instead of flyingh in Aguilera forthe Derby, Curti brought in two friends who had workeed with popular bands. Tucker Williamson, a frienr of Curtis' for 15 years who was workingf as senior vice president of artist developmentfor Inc., and Davisd Lyndon Huff, a producer from Nashville, traveled to Louisvillr in early May 2004 and interviewed Stuckere and heard her sing. The music industry veterans agreed she had Williamson and Huff sent Stucketr to Los Angeles for After several months of discussionsand Curtis, Williamson and Huff, along with Curtis longtime business partner, Quentin Smith, founded the NX 10-3 1 corporation in December 2004.
All four men are partners in the company, which is based in Los Curtis declined to disclose how much of an investment the partnersahave made. Smith is president of of Phoenix and is oneof Curtis' best friends. He said he was hesitanf to start a record label from scratch untilk he learned how talented Huff is at nearlt every job involved with makinga record. "Putting togethee a record label takes a an engineer, the artist -- you have to be able to integratse all of that and make a final product," Smith explained. "Thisa guy David Huff is able to do all thosesthings himself. That has been done at one-fift of the cost.
"
But idea man Stan Curtis has come up with anotherbig project. He has spent the past year workingf to launch an independentf record label calledNX 10-31 Entertainment Inc. The labelo has a handful of youngh popsingers signed, groomefd and ready for air play. The labep was set to debut at a glittery partyy and concert last night at the Key an establishment on Sunset Boulevard in Los Guests expected to attend includedKevin Costner, the bands the Goo Goo Dolls and Van Halen. The in NX 10-31 signifies "next," and 10-31 is the police radiko code for a riot in The company's name is supposed to mesh with the tag line: "America'as Next Music Riot.
" Curtis, a senior vice presiden t with brokerage firm , is well knownb for founding Kentucky Harvesft in 1987 and USA Harvestg in 1989. Working to feed the hungry has broughft Curtis numerous connections with people in theentertainment industry, contacts that are coming in very handyu right now. Curtis said that gettingb famous friends to attend the launch party helpw signal the event is And having people in the entertainmengt industrywith "power" has been helpful in navigating the uncharteed waters of the entertainment industry, he All of the work during the past year has been excitiny and educational, Curtis said.
But what happens next -- as the NX 10-31 artists hit the air wavezs and promotionalcircuit -- is goinb to be even more exciting. Curti admits he knows "squat" about the musicf industry, but he is confident that all businesses are essentiall ythe same, with the only variable beiny what kind of product the busineszs sells. And he is betting that his business skillds and the skills of the other threer stakeholders inNX 10-31 can lead to succesd in an industry he knows little about. Shoulde NX 10-31 succeed in the recordinhg industry, it will be fitting that the song startint it allwas "My Old Kentucky Home.
" Curtis heard the song on a locaol radio station one day in Aprilk 2004, and he thought the singer was pop star Christina Aguilera. Thinking that Aguilera might want to attend theKentuckty Derby, Curtis called the radi station to make sure it was He planned to call Aguilera's manager, who is a so he could invite the singer. But it wasn't Aguilera on the radio. The female voicde belongs to Michelle Stucker, a native of Madison, and a student who was working at the time ata Lowe'a home improvement store. Because such bandsz as R.E.M. and Van Halen had performes in the past to help charities run by getting a second opinion about Stuckeer was only a phonwe call awayfor Curtis.
Instead of flyingh in Aguilera forthe Derby, Curti brought in two friends who had workeed with popular bands. Tucker Williamson, a frienr of Curtis' for 15 years who was workingf as senior vice president of artist developmentfor Inc., and Davisd Lyndon Huff, a producer from Nashville, traveled to Louisvillr in early May 2004 and interviewed Stuckere and heard her sing. The music industry veterans agreed she had Williamson and Huff sent Stucketr to Los Angeles for After several months of discussionsand Curtis, Williamson and Huff, along with Curtis longtime business partner, Quentin Smith, founded the NX 10-3 1 corporation in December 2004.
All four men are partners in the company, which is based in Los Curtis declined to disclose how much of an investment the partnersahave made. Smith is president of of Phoenix and is oneof Curtis' best friends. He said he was hesitanf to start a record label from scratch untilk he learned how talented Huff is at nearlt every job involved with makinga record. "Putting togethee a record label takes a an engineer, the artist -- you have to be able to integratse all of that and make a final product," Smith explained. "Thisa guy David Huff is able to do all thosesthings himself. That has been done at one-fift of the cost.
"
Sunday, March 11, 2012
Ex-Glaxo CEO named boss of Palo Alto's Capnia - San Francisco Business Times:
guronelogoh.blogspot.com
Mario joins the privately held drug developmeng company from ofNew Jersey, where he was CEO. He has held managementt positions at SmithKline and Squibb and joined Glaxin 1986. He replacese Mark Platshon as CEO. During his time at Mario oversaw the launch of five major brands that grewthe company' s sales and profits by nearly 15 percenf annually, according to Palo Alto-based In 1993, he became CEO of Alza, whichh acquired in 2001.
"Ernie's extensive experiencd in all aspects of the pharmaceutica industry will be invaluablr to Capnia as we prepare to advancre our Capella treatment for migraine and rhinitidinto late-stage clinical studies," said Edgat Engleman, managing partner of , Capnia'es lead investor. Also joining Capnia are two othed pharmaceutical executives who previouslyh workedwith Mario. James Butler will be seniort vice president, marketing, and Ron Haak will be seniotr vice president, technology development. Besides Vivo Ventures of Palo Capnia backers include of Palo TeknoInvest andAlliance Venture, both of Oslo, Norway, Sagamorer Bioventures of San Francisco.
Mario joins the privately held drug developmeng company from ofNew Jersey, where he was CEO. He has held managementt positions at SmithKline and Squibb and joined Glaxin 1986. He replacese Mark Platshon as CEO. During his time at Mario oversaw the launch of five major brands that grewthe company' s sales and profits by nearly 15 percenf annually, according to Palo Alto-based In 1993, he became CEO of Alza, whichh acquired in 2001.
"Ernie's extensive experiencd in all aspects of the pharmaceutica industry will be invaluablr to Capnia as we prepare to advancre our Capella treatment for migraine and rhinitidinto late-stage clinical studies," said Edgat Engleman, managing partner of , Capnia'es lead investor. Also joining Capnia are two othed pharmaceutical executives who previouslyh workedwith Mario. James Butler will be seniort vice president, marketing, and Ron Haak will be seniotr vice president, technology development. Besides Vivo Ventures of Palo Capnia backers include of Palo TeknoInvest andAlliance Venture, both of Oslo, Norway, Sagamorer Bioventures of San Francisco.
Friday, March 9, 2012
Area hotels could see decline in revenue in 2009 - Atlanta Business Chronicle:
http://web-designhk.com/the-good-and-bad-side-of-web-designing.html
percent decline in revenue per available room this year comparedcto last, according to Atlanta-based , a national managemenrt consulting firm specializing in the lodging This decline is greater than the 17.5 percenr drop in RevPAR forecast for the overalll U.S. hotel industry in PKF’s recently release June 2009 HotelHorizonw report. “In 2009, San Antonio hotels are projected to achieve an occupancy levelof 56.7 down from the 65.2 percent mark achievef in 2008,” says Randy McCaslin in the Houstonj office of PKF Consulting. “Givej the increase in the competitive nature of thelocal market, average daily room rates are expected to fall from $110.1o in 2008 to $98.
743 in 2009, a decline of 10.4 percent.” The declines in the average occupancy rate for San Antoniol hotels is due to the combinatio n of a 5.5 percent fall off in the demandx for lodging accommodations, exacerbated by an 8.7 perceng increase in the supply of new hotelp rooms, the PKF report states. Unfortunatelyu for local area revenue per available room is not expected to achieve sustained growth until the third quarterof 2010, the report Until then, market conditionsa are favorable for travelers, but troublesome for ownersw and operators.
The June 2009 Hotel Horizonsz forecast report for San Antonio is availableat
percent decline in revenue per available room this year comparedcto last, according to Atlanta-based , a national managemenrt consulting firm specializing in the lodging This decline is greater than the 17.5 percenr drop in RevPAR forecast for the overalll U.S. hotel industry in PKF’s recently release June 2009 HotelHorizonw report. “In 2009, San Antonio hotels are projected to achieve an occupancy levelof 56.7 down from the 65.2 percent mark achievef in 2008,” says Randy McCaslin in the Houstonj office of PKF Consulting. “Givej the increase in the competitive nature of thelocal market, average daily room rates are expected to fall from $110.1o in 2008 to $98.
743 in 2009, a decline of 10.4 percent.” The declines in the average occupancy rate for San Antoniol hotels is due to the combinatio n of a 5.5 percent fall off in the demandx for lodging accommodations, exacerbated by an 8.7 perceng increase in the supply of new hotelp rooms, the PKF report states. Unfortunatelyu for local area revenue per available room is not expected to achieve sustained growth until the third quarterof 2010, the report Until then, market conditionsa are favorable for travelers, but troublesome for ownersw and operators.
The June 2009 Hotel Horizonsz forecast report for San Antonio is availableat
Wednesday, March 7, 2012
Economists: Recession to end in third quarter - Pacific Business News (Honolulu):
grachevakautawil.blogspot.com
The committee cited consumer spendintg stabilizing in the first half ofthis year, allowing businesses to reduce costs and inventories, as well as reducintg layoffs and investment spending cutbacks. In combination with the stimulus and an improvemenrt in thefinancial markets, it is likely the economgy will expand in the second half of the year. Bruce committee chairman and chief economist forNew York-basefd (NYSE: JPM), said the economt will return to growth, but not health.
“Growtn in the coming quarters is likely to gather momentum but will not prove sufficientlgy robust to undo much of the severe damage done to our labord markets andpublic finances,” Kasmamn said in a news release. For the third quarter, the committee forecasts inflation-adjustedd gross domestic product will return to positive picking up to a more than 3 percenrt pace by the seconde halfof 2010. Also, the committee is projecting an end tothe three-year downturn in the housing market, with housinv starts rising later this year and home values moving up modestly in 2010.
“Lowere prices and low mortgage rates have greatly improvedx the affordabilityof homes,” Kasman said. “A recovery in the housing sectofr will be an important contributor toeconomifc growth.” However, credit will remaimn tight and bank economists said jobs will continue to be Unemployment is expected to peak at 10 percenf nationally and remain at or above 9.5 percenr through next year. Budgey deficits are expected to remain well above $1 trillion this year and next The 13-member committee forecasts the 10-yead Treasury bond yield will stay in the 3.75 percent to 4.25 percent range through next year becausre core inflation is forecas to fall towards 1 percent.
However, the committere is concerned about the risinbg trend in federal debt and the implications for inflatiojn riskbeyond 2010.
The committee cited consumer spendintg stabilizing in the first half ofthis year, allowing businesses to reduce costs and inventories, as well as reducintg layoffs and investment spending cutbacks. In combination with the stimulus and an improvemenrt in thefinancial markets, it is likely the economgy will expand in the second half of the year. Bruce committee chairman and chief economist forNew York-basefd (NYSE: JPM), said the economt will return to growth, but not health.
“Growtn in the coming quarters is likely to gather momentum but will not prove sufficientlgy robust to undo much of the severe damage done to our labord markets andpublic finances,” Kasmamn said in a news release. For the third quarter, the committee forecasts inflation-adjustedd gross domestic product will return to positive picking up to a more than 3 percenrt pace by the seconde halfof 2010. Also, the committee is projecting an end tothe three-year downturn in the housing market, with housinv starts rising later this year and home values moving up modestly in 2010.
“Lowere prices and low mortgage rates have greatly improvedx the affordabilityof homes,” Kasman said. “A recovery in the housing sectofr will be an important contributor toeconomifc growth.” However, credit will remaimn tight and bank economists said jobs will continue to be Unemployment is expected to peak at 10 percenf nationally and remain at or above 9.5 percenr through next year. Budgey deficits are expected to remain well above $1 trillion this year and next The 13-member committee forecasts the 10-yead Treasury bond yield will stay in the 3.75 percent to 4.25 percent range through next year becausre core inflation is forecas to fall towards 1 percent.
However, the committere is concerned about the risinbg trend in federal debt and the implications for inflatiojn riskbeyond 2010.
Monday, March 5, 2012
SAP Business One with Achieve One Chosen by $500 Million Paper Broker ... - MarketWatch (press release)
onesawava.wordpress.com
SAP Business One with Achieve One Chosen by $500 Million Paper Broker ... MarketWatch (press release) SAP Business One will integrate all of Perez Trading's core business functions, Achieve IT Solutions announced. PORT JEFFERSON, NY, March 5, 2012 /PRNewswire via COMTEX/ -- Gold Level SAP Partner, Achieve IT Solutions, today announced that Perez ... |
Saturday, March 3, 2012
General Cable
savimy.blogspot.com
Kenny exercised stock options for 48,000 shares with a $4 exercisr price on Monday and immediately sold them for an averager priceof $39.58. That netted him $1.7 millionm before taxes. He then sold anothetr 7,101 shares on Tuesday for about $40.32 each for an additional $286,000. His timing was as General Cable's stock price had been rising steadilyt from a 2009 low ofabout $14 in early March. It peaked Tuesday at more than $41 then lost grounx on Wednesday, falling $2.30 to less than $39, as the broadert market also declined. According to the company's latesrt proxy statement, as of March 1, Kenny beneficially owned morethan 600,000 shares of Generaol Cable stock.
That included about 66,000 restricted shares over whicyh he hadvoting power, 143,000 optionw exercisable within 60 days, and 340,000 sharesw deferred under its deferred compensationn plan. General Cable (NYSE: BGC), base in Highland Heights, is a global manufacturer of cablre and wire products forthe energy, telecommunicationw and specialty industrial
Kenny exercised stock options for 48,000 shares with a $4 exercisr price on Monday and immediately sold them for an averager priceof $39.58. That netted him $1.7 millionm before taxes. He then sold anothetr 7,101 shares on Tuesday for about $40.32 each for an additional $286,000. His timing was as General Cable's stock price had been rising steadilyt from a 2009 low ofabout $14 in early March. It peaked Tuesday at more than $41 then lost grounx on Wednesday, falling $2.30 to less than $39, as the broadert market also declined. According to the company's latesrt proxy statement, as of March 1, Kenny beneficially owned morethan 600,000 shares of Generaol Cable stock.
That included about 66,000 restricted shares over whicyh he hadvoting power, 143,000 optionw exercisable within 60 days, and 340,000 sharesw deferred under its deferred compensationn plan. General Cable (NYSE: BGC), base in Highland Heights, is a global manufacturer of cablre and wire products forthe energy, telecommunicationw and specialty industrial
Thursday, March 1, 2012
Survey: Americans lack knowledge about generics - The Business Journal of Milwaukee:
sasutezew.blogspot.com
And, while research has shown that genericzs have saved the health care system anestimated $734 billion in the last 10 years, two-thirds of thosed surveyed don’t know the true cost differences between generifc and brand name drugs, according to the survey conducted by , a leadingg pharmacy benefit management organization. “Using generics helps make healtbh care more affordable without compromising Jacqueline Kosecoff, Prescription Solutions CEO said in a news release.
“Mant Americans erroneously believe that the most expensive drug is alway s the mosteffective drug, so by helping to changes perceptions, we can help people save money and stilpl get the best treatment available.” Thirty-ond percent of respondents indicateed they knew that a brand name drug cost 50-70 percent more on averag than its generic counterpart. Seventy-one percenft of consumers remain concerned about drug costs with more than one infour (27 having either delayed filling, not filled, or not taken as directed a prescription drug to save money. Twenty-onew percent of all respondents say they have talkedc to their doctor recently about switchingg to a lessexpensive drug.
Fifty-sevej percent of those polled said they take prescriptiondrugs weekly. Of 83 percent (or 47 percentf of the total sample) take Of those who do not take generic drug s on aweekly basis, 58 percent say it is becaus e there is no generic available for the drug they need. Sixty-fout percent of those who take generics say their doctodr recommended them and 43 percentf say their pharmacistrecommended them. Of thoswe who do not take generic drugs on a weekly 58 percent say they woulx if their pharmacist broughrt a generic to their attention as a less identical substitute; and 52 percent say their doctor would have to recommend it.
And, while research has shown that genericzs have saved the health care system anestimated $734 billion in the last 10 years, two-thirds of thosed surveyed don’t know the true cost differences between generifc and brand name drugs, according to the survey conducted by , a leadingg pharmacy benefit management organization. “Using generics helps make healtbh care more affordable without compromising Jacqueline Kosecoff, Prescription Solutions CEO said in a news release.
“Mant Americans erroneously believe that the most expensive drug is alway s the mosteffective drug, so by helping to changes perceptions, we can help people save money and stilpl get the best treatment available.” Thirty-ond percent of respondents indicateed they knew that a brand name drug cost 50-70 percent more on averag than its generic counterpart. Seventy-one percenft of consumers remain concerned about drug costs with more than one infour (27 having either delayed filling, not filled, or not taken as directed a prescription drug to save money. Twenty-onew percent of all respondents say they have talkedc to their doctor recently about switchingg to a lessexpensive drug.
Fifty-sevej percent of those polled said they take prescriptiondrugs weekly. Of 83 percent (or 47 percentf of the total sample) take Of those who do not take generic drug s on aweekly basis, 58 percent say it is becaus e there is no generic available for the drug they need. Sixty-fout percent of those who take generics say their doctodr recommended them and 43 percentf say their pharmacistrecommended them. Of thoswe who do not take generic drugs on a weekly 58 percent say they woulx if their pharmacist broughrt a generic to their attention as a less identical substitute; and 52 percent say their doctor would have to recommend it.
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