Dinner cruise boat runs aground off Maui Houston Chronicle 2010 AP HONOLULU รข€" A boat carrying 60 people on a dinner cruise ran aground in an Hawaiian harbor, but passengers were rescued by another vessel and no one ... |
Friday, December 31, 2010
Dinner cruise boat runs aground off Maui - Houston Chronicle
modestofyeyko.blogspot.com
Tuesday, December 28, 2010
Kingpin investors raise energy stakes - Pittsburgh Business Times:
adamovaichive.blogspot.com
A bevy of high-profile asset managerse and hedge fund gurus returned to buyingf mode after taking financial lumps in the second half of 2008 when the value of energy company share tanked along with the price of oil andnaturao gas. Prominent investors such as all-star asse manager Paul Tudor Jones, energy maverick T. Boone Pickene and hedge fund investor George Soros dipper their toes in the energy pool once agaih and grabbed multiple stakes inHouston companies, accordingh to regulatory statements filed this month. Jones, who overseezs Tudor Investment Corp.
, found bargaines in 10 Houston-based energy companies or major playerx with a significant presence inthe region, and also took a new positionh in Waste Management Inc., still a big favorit e of Microsoft Corp. founder Bill Gates. who has spent the past 12 month lobbying for his plan to help the country kick the importedsoil habit, still knows a fossil-fuel bargain when he sees one. The Texazs oil maven took new positions in a wide range of energt companieswith beaten-down stockm prices at the end of 2008, a year that the bellwetheer Philadelphia Oil Service Index dipped nearly 60 Pickens dabbled in services playeras such as Schlumberger Ltd. and Halliburton Co.
, natural gas shale producer ChesapeakseEnergy Corp. and high-profile explorationm and production company AnadarkoPetroleum Corp. Soros took even biggerf bites inthe process, gaining new positions in services players Nabors Industries Ltd. and Weatherforde International Inc. — after selling off his Schlumbergerdstake — while adding to his position in . Besidesd his substantial switch into Soros made another big move in late April involvinba Houston-based company by adding 3 million more sharexs of Plains Exploration and Production Co., boosting his stake to nearlyy 6.5 million shares.
Energy analysts and asse t investment managers who follow these movers and shakerse say that after energy stock prices kept climbingt in 2007 toward lofty highsin mid-2008, it’s been a whilw since the notion of value investinf could be applied to the sector. “Timing is says Eddie Allen, senior partner with Eaglr GlobalAdvisors LLC. “There may have been an over-reactiohn in the fall with the sell-off of oil There’s still a lot of volatility to deal but these investors did well in anticipating therise (in oil that we’ve seen so far this from the mid-$30s to $60.” Allen says that valu investors are still playing a bit of a waiting game.
He notes that stock prices are natural gas has notfollowed oil’ws recovery in 2009, and there are concerns that prices couldf stay depressed as inventories build. There is also more he adds, about possible consolidatiomnas mid-cap exploration and production companies eye the pickingws among smaller competitors. Dan Pickering, co-president and head of researc at Tudor, Pickering, Holt & Co. Securitiex Inc., says Pickens, Soros and Tudotr might have even added more shares during the quartef if energy stocks had not rallied and moveed a bit higherthan expected.
“Thwe market took off so strongly in the firsrt quarter that investors took a pause waiting for a pullbackl thatnever came. They might have wanted more but the stock s got away a little bit onthe upside,” Pickering All things considered, energy was the hottest investmeny game in town. Says Pickering: “The overall themre here is that investors becamw reengagedin energy, which dramatically out-performedx the rest of the market in the first quarter, as people were just less terrifiex about the state of the worlsd (economy).” The energy resurgence party had some notablr no-shows.
While Pickens and Soros were pickingnew favorites, other big-name investorsx were still cleaning house. Warren Buffett sold 13.7 million ConocoPhillipe shares in the quarter to reducee his stake to a stillsizable 71.2 milliohn shares. Buffet conceded to shareholders of his BerkshirdHathaway Inc. asset management firm that his huge investmenrt in ConocoPhillips last year when oil pricees peakedat $147 a barrel was a mistake.
A bevy of high-profile asset managerse and hedge fund gurus returned to buyingf mode after taking financial lumps in the second half of 2008 when the value of energy company share tanked along with the price of oil andnaturao gas. Prominent investors such as all-star asse manager Paul Tudor Jones, energy maverick T. Boone Pickene and hedge fund investor George Soros dipper their toes in the energy pool once agaih and grabbed multiple stakes inHouston companies, accordingh to regulatory statements filed this month. Jones, who overseezs Tudor Investment Corp.
, found bargaines in 10 Houston-based energy companies or major playerx with a significant presence inthe region, and also took a new positionh in Waste Management Inc., still a big favorit e of Microsoft Corp. founder Bill Gates. who has spent the past 12 month lobbying for his plan to help the country kick the importedsoil habit, still knows a fossil-fuel bargain when he sees one. The Texazs oil maven took new positions in a wide range of energt companieswith beaten-down stockm prices at the end of 2008, a year that the bellwetheer Philadelphia Oil Service Index dipped nearly 60 Pickens dabbled in services playeras such as Schlumberger Ltd. and Halliburton Co.
, natural gas shale producer ChesapeakseEnergy Corp. and high-profile explorationm and production company AnadarkoPetroleum Corp. Soros took even biggerf bites inthe process, gaining new positions in services players Nabors Industries Ltd. and Weatherforde International Inc. — after selling off his Schlumbergerdstake — while adding to his position in . Besidesd his substantial switch into Soros made another big move in late April involvinba Houston-based company by adding 3 million more sharexs of Plains Exploration and Production Co., boosting his stake to nearlyy 6.5 million shares.
Energy analysts and asse t investment managers who follow these movers and shakerse say that after energy stock prices kept climbingt in 2007 toward lofty highsin mid-2008, it’s been a whilw since the notion of value investinf could be applied to the sector. “Timing is says Eddie Allen, senior partner with Eaglr GlobalAdvisors LLC. “There may have been an over-reactiohn in the fall with the sell-off of oil There’s still a lot of volatility to deal but these investors did well in anticipating therise (in oil that we’ve seen so far this from the mid-$30s to $60.” Allen says that valu investors are still playing a bit of a waiting game.
He notes that stock prices are natural gas has notfollowed oil’ws recovery in 2009, and there are concerns that prices couldf stay depressed as inventories build. There is also more he adds, about possible consolidatiomnas mid-cap exploration and production companies eye the pickingws among smaller competitors. Dan Pickering, co-president and head of researc at Tudor, Pickering, Holt & Co. Securitiex Inc., says Pickens, Soros and Tudotr might have even added more shares during the quartef if energy stocks had not rallied and moveed a bit higherthan expected.
“Thwe market took off so strongly in the firsrt quarter that investors took a pause waiting for a pullbackl thatnever came. They might have wanted more but the stock s got away a little bit onthe upside,” Pickering All things considered, energy was the hottest investmeny game in town. Says Pickering: “The overall themre here is that investors becamw reengagedin energy, which dramatically out-performedx the rest of the market in the first quarter, as people were just less terrifiex about the state of the worlsd (economy).” The energy resurgence party had some notablr no-shows.
While Pickens and Soros were pickingnew favorites, other big-name investorsx were still cleaning house. Warren Buffett sold 13.7 million ConocoPhillipe shares in the quarter to reducee his stake to a stillsizable 71.2 milliohn shares. Buffet conceded to shareholders of his BerkshirdHathaway Inc. asset management firm that his huge investmenrt in ConocoPhillips last year when oil pricees peakedat $147 a barrel was a mistake.
Sunday, December 26, 2010
Cord Camera heads into receivership - Triangle Business Journal:
mesiaipuhuni1981.blogspot.com
The photo processing and scrapboomk retail chain filed papers in Franklin Counthy Common Pleas Court on Friday to dissolve its business and havea court-appointeed receiver resolve outstanding financial liabilities for the Cord President Steven Cordle could not immediately be reachecd for comment Thursday, but the company argued in its courrt filing that dissolution and appointment of a receiver were its only optioj to continue operations.
“Cord believes that the appointment of a is the only recoursr to ensure that Cord can continu to operate in the regula courseof business, while maintaining the value of its until such time as those assets can be liquidated at theirt highest and best price as a going the filing said. Dissolution is akin to a federakl bankruptcy filing that enables restructuringor liquidation, except dissolution is governes by state law. Cord Camera listeds its largest creditor as Colfax Financial although the court filings do not say how much thecompany owes. The filing also said other creditors have begun collection actions.
The filing is the latest in a strinbg of bad news for the Columbusw retailinstitution – it was startede in 1954 – that has been financially buffeted during the 18 months-long recession. Troubles surfaced last year, when callec in Cord Camera’s $8.6 million credit line, whicn resulted in expense cuts and the closurse offour stores. Cord Camera was able to get the bankfundinvg restored, but it ran into trouble again last month. Philadelphia-based filed a lawsuit May 8 in U.S. District Court in Columbus alleging Cord Camera had defaulted on threde equipment leases andowed $637,000.
That same month, Cord Camera moved its headquarters to smaller offices and put its forme home office on Dividend Drived on the selling blockfor $2.2 After Columbus Business First reported on the company’x troubles last year, Cordl said the family company remained dedicated to its businesse plan and survival. “We’re committed to our growth,” he had “and to keeping what my fatherd started backin ’54r going.
” The consolidation left Cord Camers with 28 stores in Ohio and
The photo processing and scrapboomk retail chain filed papers in Franklin Counthy Common Pleas Court on Friday to dissolve its business and havea court-appointeed receiver resolve outstanding financial liabilities for the Cord President Steven Cordle could not immediately be reachecd for comment Thursday, but the company argued in its courrt filing that dissolution and appointment of a receiver were its only optioj to continue operations.
“Cord believes that the appointment of a is the only recoursr to ensure that Cord can continu to operate in the regula courseof business, while maintaining the value of its until such time as those assets can be liquidated at theirt highest and best price as a going the filing said. Dissolution is akin to a federakl bankruptcy filing that enables restructuringor liquidation, except dissolution is governes by state law. Cord Camera listeds its largest creditor as Colfax Financial although the court filings do not say how much thecompany owes. The filing also said other creditors have begun collection actions.
The filing is the latest in a strinbg of bad news for the Columbusw retailinstitution – it was startede in 1954 – that has been financially buffeted during the 18 months-long recession. Troubles surfaced last year, when callec in Cord Camera’s $8.6 million credit line, whicn resulted in expense cuts and the closurse offour stores. Cord Camera was able to get the bankfundinvg restored, but it ran into trouble again last month. Philadelphia-based filed a lawsuit May 8 in U.S. District Court in Columbus alleging Cord Camera had defaulted on threde equipment leases andowed $637,000.
That same month, Cord Camera moved its headquarters to smaller offices and put its forme home office on Dividend Drived on the selling blockfor $2.2 After Columbus Business First reported on the company’x troubles last year, Cordl said the family company remained dedicated to its businesse plan and survival. “We’re committed to our growth,” he had “and to keeping what my fatherd started backin ’54r going.
” The consolidation left Cord Camers with 28 stores in Ohio and
Thursday, December 23, 2010
Michael Irvin sued over "Fourth and Long" reality show - Houston Business Journal:
http://osahispana.org/proyectos-osah/3-proyectos/86-ayuda-urgente-al-pueblo-haitiano.html
Jordan Bealmear of Thermal, Calif., and Shannonn Clark and Christopher Harding, both of Ky., allege Michael Irvin’s reality show “Fourth and is their idea with a new The plaintiffs in a lawsuit filed in Dallas County accusde Irvinof fraud, fraur by nondisclosure, breach of contract and unjust Larry Friedman, Michael Irvin's attorney, told the Dallaz Business Journal Wednesday that the lawsuit is completely bogus and without merit.
Friedmajn said Irvin met with the plaintiffs, and they had no businesas cards, no company, no stationery and worked outside the industry without substantial Friedman added that a lot of people in the entertainment industry were throwing the same show concepyt around and Michael had the concept and was looking fora producer. When asked who called the initial meeting betweenthe parties, Friedman said he didn't know who invitesd who to the meeting. In the attorney for the plaintiffs, Mark Taylor of Dallas, told the DBJ that the issure is not whether the idea for the show was but whether Michael agreed to enter into a deal and then renegeds on the terms ofthe deal.
The plaintiffa in the lawsuit say they developed the concepty behindthe show, which they were callinhg "Guts to Glory" and endedx up in contact with Irvin and his representativese to invite Irvin to be the show's host. The plaintiffs offered a deal in which Irvin and his agent would receive 25 percent of the proceedws and the plaintiffs woulfd receive75 percent. They later strucko a deal in which Irvin would take 75 percenty of the aggregate executiveproducing fee, whiled the plaintiffs would share the remainingg 25 percent and that adaptions of the show for other sports would involve a 50-50 split, according to the lawsuit.
Durinb the negotiation process, the three say Irvih was provided withmarketing tools, including a story to present to Dallas Cowboys executives and Dallaw Cowboys Coach Jerry Jones with the intentf of getting the team involved. In the the plaintiffs say they were escorte d out of aMarch 10, 2008, deal signing meetiny at the Dallas law officexs of Friedman & Fiegler LLP in which Larry Friedmanm was present. Their attorney, Larry Kopeikin, was attending the meetinb via aconference call. When they were brought back into the the plaintiffs were told that Irvi would have to review the deal memobeforde signing.
Days later, they learned that Irvin woul d only agree toa 95-5 percent split with Irvi n taking a 95 percent cut, and five days aftefr that Irvin sent an e-maill to Clark stating that he had never used the storyboar in his presentation to Jones, according to the lawsuit. The threse individuals who planned to produce the show are suingh Irvin claiming in their suit thatIrvibn “through his agents, representatives, and/oe employees, made false and material misrepresentations to plaintiffs concerninv his agreement to the termws of the deal memo, including the 75-245 percent split.
"
Jordan Bealmear of Thermal, Calif., and Shannonn Clark and Christopher Harding, both of Ky., allege Michael Irvin’s reality show “Fourth and is their idea with a new The plaintiffs in a lawsuit filed in Dallas County accusde Irvinof fraud, fraur by nondisclosure, breach of contract and unjust Larry Friedman, Michael Irvin's attorney, told the Dallaz Business Journal Wednesday that the lawsuit is completely bogus and without merit.
Friedmajn said Irvin met with the plaintiffs, and they had no businesas cards, no company, no stationery and worked outside the industry without substantial Friedman added that a lot of people in the entertainment industry were throwing the same show concepyt around and Michael had the concept and was looking fora producer. When asked who called the initial meeting betweenthe parties, Friedman said he didn't know who invitesd who to the meeting. In the attorney for the plaintiffs, Mark Taylor of Dallas, told the DBJ that the issure is not whether the idea for the show was but whether Michael agreed to enter into a deal and then renegeds on the terms ofthe deal.
The plaintiffa in the lawsuit say they developed the concepty behindthe show, which they were callinhg "Guts to Glory" and endedx up in contact with Irvin and his representativese to invite Irvin to be the show's host. The plaintiffs offered a deal in which Irvin and his agent would receive 25 percent of the proceedws and the plaintiffs woulfd receive75 percent. They later strucko a deal in which Irvin would take 75 percenty of the aggregate executiveproducing fee, whiled the plaintiffs would share the remainingg 25 percent and that adaptions of the show for other sports would involve a 50-50 split, according to the lawsuit.
Durinb the negotiation process, the three say Irvih was provided withmarketing tools, including a story to present to Dallas Cowboys executives and Dallaw Cowboys Coach Jerry Jones with the intentf of getting the team involved. In the the plaintiffs say they were escorte d out of aMarch 10, 2008, deal signing meetiny at the Dallas law officexs of Friedman & Fiegler LLP in which Larry Friedmanm was present. Their attorney, Larry Kopeikin, was attending the meetinb via aconference call. When they were brought back into the the plaintiffs were told that Irvi would have to review the deal memobeforde signing.
Days later, they learned that Irvin woul d only agree toa 95-5 percent split with Irvi n taking a 95 percent cut, and five days aftefr that Irvin sent an e-maill to Clark stating that he had never used the storyboar in his presentation to Jones, according to the lawsuit. The threse individuals who planned to produce the show are suingh Irvin claiming in their suit thatIrvibn “through his agents, representatives, and/oe employees, made false and material misrepresentations to plaintiffs concerninv his agreement to the termws of the deal memo, including the 75-245 percent split.
"
Tuesday, December 21, 2010
Companies have many options for worker training funding - Business First of Louisville:
http://www.extext.org/home-family/home-improvement/selecting-wood-flooring-for-your-home.htm
So, like many Kentucky company officials sought help to pay for the needed Bob Leavitt, manager of administration, said the company had been talkinhg to officials with the Kentucky Manufacturing Assistance Cente about getting the training he neededx for his workers. But, he he was reluctant to go ahead with the investmen until he found out abouy receiving financial assistance forfundingv work-force development projects from the Bluegrass Statee Skills Corp. The division of the supports employertraining programs, offerinhg as much as $100,000 per year to companie training their work forces. Ultimately, Winstonm Industries was approved by the BSSC and began working with the KMACin 2007.
KMAC trainecd Winston employees in the leanmanufacturingf method, which concentrates on eliminatint waste and producing only what the customeer needs, Leavitt said. “About 20 or 30 yearws ago, everything was built in-house and sat for a long time untilp somebodyordered it,” he said. “With the cost of labor, insurance and everything else, manufacturers are leaning towarf just producing what the customerneeds … so you’re not sittingf on hundreds of thousands of dollars of inventory, raw whatever. “You want to make sure it’s sold before you actuallt build it,” he “Lean helps you become very efficient and revampws yourentire operation.
” At least half of Winston’s which totals about 180 employees, were given in-dept training in lean manufacturing. And that equatefd to about 2,034 training hours for who had on-site training last year. “Thety learned to do everything that is associated with lean Leavitt said. “And we’ve done overviewds to the remainder” of the employees. By using the BSSC Winston received about 70 percent of its total training investmenyt back in the form of atax credit, Leavitr said, declining to disclosse the total cost. And he is thrilled with the ongoing “Our inventory turns have doubled within 10 he said. “Our productivity has gone up.
Our salex have increased 14 percent last year and 11 percent so far this And we have hired 12 additional peoplwthis year.” The BSSC administers two programx to assist companies with their work-force developmentf needs. One is the Skills Traininfg Investment TaxCredit program, which can provide tax creditss totaling as much as $100,000 to offset a company’s eligiblew training expenses. According to Robert executive director ofthe BSSC, a compang can apply for the STIC only one time duriny a fiscal biennium. The agency also maintains a training provider directory so that companies can shop for services among eligiblesBSSC providers.
The other program the BSSC offers isa grant-in-aid program, whicnh can reimburse and offset 50 perceny of a company’s eligible training costs up to $50,000 per fiscal year. According to Curry, the majority of those funds go to existing companiesfor skills-upgrade trainingv of existing workers. That makes the programk an important retention tool forthe state, he By helping companies train and retrain theif employees, they are able to stay up to speede with constantly changing processes and technology in theitr particular field, Curry “Training incentives funds are also an importanf part of a total incentive package when tryin to attract business and industry to the state,” he “A well-trained work force is a primar y economic development tool and is the reasob the BSSC is attached to the Cabinet for Economiv Development.
”
So, like many Kentucky company officials sought help to pay for the needed Bob Leavitt, manager of administration, said the company had been talkinhg to officials with the Kentucky Manufacturing Assistance Cente about getting the training he neededx for his workers. But, he he was reluctant to go ahead with the investmen until he found out abouy receiving financial assistance forfundingv work-force development projects from the Bluegrass Statee Skills Corp. The division of the supports employertraining programs, offerinhg as much as $100,000 per year to companie training their work forces. Ultimately, Winstonm Industries was approved by the BSSC and began working with the KMACin 2007.
KMAC trainecd Winston employees in the leanmanufacturingf method, which concentrates on eliminatint waste and producing only what the customeer needs, Leavitt said. “About 20 or 30 yearws ago, everything was built in-house and sat for a long time untilp somebodyordered it,” he said. “With the cost of labor, insurance and everything else, manufacturers are leaning towarf just producing what the customerneeds … so you’re not sittingf on hundreds of thousands of dollars of inventory, raw whatever. “You want to make sure it’s sold before you actuallt build it,” he “Lean helps you become very efficient and revampws yourentire operation.
” At least half of Winston’s which totals about 180 employees, were given in-dept training in lean manufacturing. And that equatefd to about 2,034 training hours for who had on-site training last year. “Thety learned to do everything that is associated with lean Leavitt said. “And we’ve done overviewds to the remainder” of the employees. By using the BSSC Winston received about 70 percent of its total training investmenyt back in the form of atax credit, Leavitr said, declining to disclosse the total cost. And he is thrilled with the ongoing “Our inventory turns have doubled within 10 he said. “Our productivity has gone up.
Our salex have increased 14 percent last year and 11 percent so far this And we have hired 12 additional peoplwthis year.” The BSSC administers two programx to assist companies with their work-force developmentf needs. One is the Skills Traininfg Investment TaxCredit program, which can provide tax creditss totaling as much as $100,000 to offset a company’s eligiblew training expenses. According to Robert executive director ofthe BSSC, a compang can apply for the STIC only one time duriny a fiscal biennium. The agency also maintains a training provider directory so that companies can shop for services among eligiblesBSSC providers.
The other program the BSSC offers isa grant-in-aid program, whicnh can reimburse and offset 50 perceny of a company’s eligible training costs up to $50,000 per fiscal year. According to Curry, the majority of those funds go to existing companiesfor skills-upgrade trainingv of existing workers. That makes the programk an important retention tool forthe state, he By helping companies train and retrain theif employees, they are able to stay up to speede with constantly changing processes and technology in theitr particular field, Curry “Training incentives funds are also an importanf part of a total incentive package when tryin to attract business and industry to the state,” he “A well-trained work force is a primar y economic development tool and is the reasob the BSSC is attached to the Cabinet for Economiv Development.
”
Saturday, December 18, 2010
Export-import bank's focus could help cleantech clean up - Silicon Valley / San Jose Business Journal:
younkinesagugad1746.blogspot.com
"It's the best hidden secretg in the world ofinternational finance," says Mike head of products for Silicon Valley Bank and a member of the Ex-Imk Bank's advisory board. "(Th bank's) widely known with the majors: the Caterpillars and folks that have been usin g themfor years. But with small and mid-sizer businesses, they're letting people know they're availabler to help banks financeoverseas transactions." Commonlt known as the Ex-Im Bank, it provides loan guarantee s to partner banks, including Silicon Valley to finance exports.
The Ex-Im Bank also providez export credit insurance that can protec borrowersagainst non-payment by foreign But with just about 400 employees, the 71-year-oldd Ex-Im Bank is a largeluy unknown federal agency that has struggled to get the word out abouty its programs to emerging "We assume risks the private sectofr is unwilling or unable to take says Linda Conlin, vice president and vice chair of the U.S. Export-Imporyt Bank. "We want to make sure we help to leve l the playing fieldsto U.S. exporters by matching the financing otherf governments provide totheir exporters.
" The bank is rampinf up its focus on California clean technologhy companies in the coming year because its chartef says it must focus on financinhg renewable energy solutions. The current credit cruncu has created an opportunity for the bank because it is not limitedd by the number of loans it can make or the size of the loan it can Conlin says. "We've done over $1 billionm last year in working capitalloan guarantees," Conlim says. "Most of that has gone to small And clean tech and environmental companies make up the majoritg ofthese companies.
" Ex-Im Bank's loan guarantees, like Small Businessz Administration loans, are attractive to banks becaus e they don't require banks to reservw capital against the loan like bankz do for unguaranteed commercial "The reason Ex-Im Bank exists is banks are somewha t constrained in their ability to finance cross-borde sales," says Craig director of Ex-Im Bank's Office of Renewabl Energy and Environmental "The element of risk is somewhat If a bank makes an international loan, it has to hold back a high loan loss But if we're giving them a loan that's 100 percent unconditional.
That means the bank has zero loan loss enabling banks to extend longer terms at lower interest rates and thisgives U.S. exporters a decides advantage in supportingtheir sales." Selfridge says given the credit crunch, banks will likely want to free up as much capitak as they can in the coming "I think you're going to see banks get much sharper in takingb on the right kinds of risk and capital So to me there will be big opportunitied in 2008 and 2009 ... with the whole credir crisis going on," Selfridge says. The Ex-I Bank also offers a program specific to renewable energy and water projects wher companies can qualify for extended repayment terms of up to15 years.
, a Berkeley-bases solar company which was purchasedby , used the extendedx financing terms to develop an $8 millionn solar-panel project in South Koresa in 2006. In 2007, the bank authorizedd $12.6 billion in loan commitments, which supported an estimated $16 billion in U.S. the bank says. "U.S. clean and renewable energyy exports doubled between 2002 and Conlin says. "So it's a growtg industry and there are many companies in this sectof that are going global at an earlier time in theit development than a typical startup oryounyg company. That's where we can be particularly helpful." The Ex-I m Bank is also eyeing the venture sector for leads oncleantecn deals. U.S.
venture capital investment in the cleantech spac e has jumpedto $5.1i8 billion from $714 million in North America and Europew between 2001 and according to the CleanTech Group. And U.S. companiez receive more than three times the investment that Europeancompaniesz do. "We have a real interesty in reaching into the venturee capital community because we reallyfeel like, in a certain stagde of a company's development, we can be very helpful," Conlin says.
"It's the best hidden secretg in the world ofinternational finance," says Mike head of products for Silicon Valley Bank and a member of the Ex-Imk Bank's advisory board. "(Th bank's) widely known with the majors: the Caterpillars and folks that have been usin g themfor years. But with small and mid-sizer businesses, they're letting people know they're availabler to help banks financeoverseas transactions." Commonlt known as the Ex-Im Bank, it provides loan guarantee s to partner banks, including Silicon Valley to finance exports.
The Ex-Im Bank also providez export credit insurance that can protec borrowersagainst non-payment by foreign But with just about 400 employees, the 71-year-oldd Ex-Im Bank is a largeluy unknown federal agency that has struggled to get the word out abouty its programs to emerging "We assume risks the private sectofr is unwilling or unable to take says Linda Conlin, vice president and vice chair of the U.S. Export-Imporyt Bank. "We want to make sure we help to leve l the playing fieldsto U.S. exporters by matching the financing otherf governments provide totheir exporters.
" The bank is rampinf up its focus on California clean technologhy companies in the coming year because its chartef says it must focus on financinhg renewable energy solutions. The current credit cruncu has created an opportunity for the bank because it is not limitedd by the number of loans it can make or the size of the loan it can Conlin says. "We've done over $1 billionm last year in working capitalloan guarantees," Conlim says. "Most of that has gone to small And clean tech and environmental companies make up the majoritg ofthese companies.
" Ex-Im Bank's loan guarantees, like Small Businessz Administration loans, are attractive to banks becaus e they don't require banks to reservw capital against the loan like bankz do for unguaranteed commercial "The reason Ex-Im Bank exists is banks are somewha t constrained in their ability to finance cross-borde sales," says Craig director of Ex-Im Bank's Office of Renewabl Energy and Environmental "The element of risk is somewhat If a bank makes an international loan, it has to hold back a high loan loss But if we're giving them a loan that's 100 percent unconditional.
That means the bank has zero loan loss enabling banks to extend longer terms at lower interest rates and thisgives U.S. exporters a decides advantage in supportingtheir sales." Selfridge says given the credit crunch, banks will likely want to free up as much capitak as they can in the coming "I think you're going to see banks get much sharper in takingb on the right kinds of risk and capital So to me there will be big opportunitied in 2008 and 2009 ... with the whole credir crisis going on," Selfridge says. The Ex-I Bank also offers a program specific to renewable energy and water projects wher companies can qualify for extended repayment terms of up to15 years.
, a Berkeley-bases solar company which was purchasedby , used the extendedx financing terms to develop an $8 millionn solar-panel project in South Koresa in 2006. In 2007, the bank authorizedd $12.6 billion in loan commitments, which supported an estimated $16 billion in U.S. the bank says. "U.S. clean and renewable energyy exports doubled between 2002 and Conlin says. "So it's a growtg industry and there are many companies in this sectof that are going global at an earlier time in theit development than a typical startup oryounyg company. That's where we can be particularly helpful." The Ex-I m Bank is also eyeing the venture sector for leads oncleantecn deals. U.S.
venture capital investment in the cleantech spac e has jumpedto $5.1i8 billion from $714 million in North America and Europew between 2001 and according to the CleanTech Group. And U.S. companiez receive more than three times the investment that Europeancompaniesz do. "We have a real interesty in reaching into the venturee capital community because we reallyfeel like, in a certain stagde of a company's development, we can be very helpful," Conlin says.
Thursday, December 16, 2010
Elster Kent Metering Ltd Sells 25.1 Percent Stake to Lily of the Valley ... - PR Newswire (press release)
belyaevostapuki.blogspot.com
Elster Kent Metering Ltd Sells 25.1 Percent Stake to Lily of the Valley ... PR Newswire (press release) ... stake in Elster Kent Metering Ltd to a black economic empowerment (BEE) compliant investment company held by Lily of the Valley Endeavour (LOVE) trust. ... |
Monday, December 13, 2010
Downtown Sheraton growing its own herbs - Nashville Business Journal:
gault-rickettsias.blogspot.com
The hotel also is working with executiveds at Philips Electronics to determine possible CFL or LED technologt for lighting fixtures that currentl work only with traditionalincandescent bulbs. Other efforts undere way at the new hotel includs a banquetrecycling program; installment of a filtration system to purifty water and reduce waste; and an interna Green Team to identify ways the hotelk can be more sustainable.
“In this day and age, it is cruciapl for all companies to be good corporate Since well before thehotel opened, we have been identifying ways we can reducr our carbon footprint while also operatingv as a first-class hotel,” said Leo Percopo, general managef of the Sheraton Phoenicx Downtown. The seasonal garden is growintg chilies, okra, mint, peppers and a variety of herbsa to be used at District American Kitchejn andWine Bar, the restauranft located on the bottom floor of the District will also return compostable items, such as fruitf and vegetable peelings, to Singh Farmws where it buys some of its The compost can then be used by the localk farm to aid in the growingt of new produce, continuing a sustainable hotel officials said.
The hotel also is working with executiveds at Philips Electronics to determine possible CFL or LED technologt for lighting fixtures that currentl work only with traditionalincandescent bulbs. Other efforts undere way at the new hotel includs a banquetrecycling program; installment of a filtration system to purifty water and reduce waste; and an interna Green Team to identify ways the hotelk can be more sustainable.
“In this day and age, it is cruciapl for all companies to be good corporate Since well before thehotel opened, we have been identifying ways we can reducr our carbon footprint while also operatingv as a first-class hotel,” said Leo Percopo, general managef of the Sheraton Phoenicx Downtown. The seasonal garden is growintg chilies, okra, mint, peppers and a variety of herbsa to be used at District American Kitchejn andWine Bar, the restauranft located on the bottom floor of the District will also return compostable items, such as fruitf and vegetable peelings, to Singh Farmws where it buys some of its The compost can then be used by the localk farm to aid in the growingt of new produce, continuing a sustainable hotel officials said.
Saturday, December 11, 2010
Biotech recruitment reaches across state lines - Triangle Business Journal:
http://snipsly.com/2010/12/10/choosing-the-right-wood-flooring-for-your-home/
Triangle biotech company executives say they regularl field recruitment calls from bureaucrats in other states many of whom offer cash and tax incentivese to entice themto relocate. Even governors are gettinfg intothe game. Massachusetts Gov. Deval Patriclk in late July personally calledf NanoCor Therapeutics CEO Sheila Mikhail and dangled a relocation packags to lurethe early-stage company to the Bay NanoCor, which is based in Chapel Hill, is developinhg a protein therapy for chronic hearyt failure. Mikhail says she received the call followinb her presentation on NanoCor to attendees at the 2008 BIOInternationakl Convention, which was held June 17-20p in San Diego.
Mikhail declined to divulge detailsof Patrick’as offer but pointed out that Massachusetts has a $1 billionh life sciences initiative that includes $250 milliom in tax benefits attached to job creation. She says the offer is “still under negotiation.” Patrick’s offic referred inquiries to Kofi Jones, a spokeswoma n for the who confirmed thatPatrick “did call that particulart company.” Jones says Patrick is a cruciaol salesperson for Massachusetts’ biotech industry. Another Triangle biotech that presented at BIO isArgos Therapeutics.
Jeff vice president of business development at saysseveral states, including Maryland, Washington and Ohio invitefd Argos to parties or requestex meetings at the “We got invited to a lot of statexs hosting different parties,” says Abbey. “I didn’t get a specifivc call from Patrick. However, we do get calls fairlgy regularly from representatives of different states anddifferen countries.
” Usually, Abbey says, calls come from someoned working with an economic development office or “It is good politics and good policy,” says “For us, we’re not interested in For other companies, if there’s benefits, I don’t find anythingv wrong with it.” More than 450 biotech companiees are now either headquartered or operate within Nortg Carolina, according to the . Of these, 13 are publiclyt traded companies with a combined market capitalizatiomof $543 billion. More than 55,000 peoplwe work in the biotech sector, with an estimated payroll of $3 billionb annually.
Of course, Massachusetts’ biotech landscapr dwarfs North Carolina’s cluster. In Massachusetts’ $1 billion life sciencre initiative offersa 10-year plan that includes the development of a stem cell bank at the , whic h would be “the largest collection of stem cell lines in the and the establishment of “Innovation Centers” to servee as “regional economic engines” for technology developmentt and commercialization. Jon Mahoney, who runs biotechnology effort, did not returnj calls seeking comment.
Florida too has committecd $1 billion in state and localo funds to attract life science research The state used incentives to attractthe , the , the and the Vaccine and Gene Therapy Institute of Oregojn Health and Science University, which plans to open a satellite facilityh in Florida. Ohio earmarked $1.6 billion to expanf high-tech research, innovation and companty formation with a focus on life Andin Maryland, another state with which North Carolina competes for biotech jobs, the governor’s is taskede with developing a comprehensive biotechnology plan for the The Maryland Stem Cell Research Fund has conducte d two rounds of funding totalingb $38 million.
It awardws research money to institutions and individualz conducting stem cell research in the Norris Tolson, president and CEO of the Biotechn Center, says North Carolina is well prepared to attract and retain biotechnologuy companies. “Companies, especially biotech companies, are not only lookinv for financial incentives,” says Tolson. “Theyh are looking for a scientific a trainedwork force, a favorablr business climate, and a high quality of North Carolina has that in spades, and the Biotechnologgy Center continues to develop programs that enhance and support it.
” States on the hunt for biotechh prey in North Carolina will likely turn to , a clinicap stage biopharmaceutical company based in The company withdrew plans for an initial public offering earlier in 2008 and raisedf $30 million in series C fundraising in March 2007. Biolexx is conducting phase 2 clinical trials of a drug to treatHepatitis C. “We’rw approached all the time,” says Jan president and CEO of Biolex. “We get a lot of callz from other statesoffering incentives,” Tureki says. “I don’t inquire about what they’red offering because we’re well situated in North Carolina. I have no plansa to leave.
” Garheng Kong, investment partner with , a Durham venturde capital firm that has invested in says it can be difficult for othefr states torecruit well-established even if significant incentives are offered.
Triangle biotech company executives say they regularl field recruitment calls from bureaucrats in other states many of whom offer cash and tax incentivese to entice themto relocate. Even governors are gettinfg intothe game. Massachusetts Gov. Deval Patriclk in late July personally calledf NanoCor Therapeutics CEO Sheila Mikhail and dangled a relocation packags to lurethe early-stage company to the Bay NanoCor, which is based in Chapel Hill, is developinhg a protein therapy for chronic hearyt failure. Mikhail says she received the call followinb her presentation on NanoCor to attendees at the 2008 BIOInternationakl Convention, which was held June 17-20p in San Diego.
Mikhail declined to divulge detailsof Patrick’as offer but pointed out that Massachusetts has a $1 billionh life sciences initiative that includes $250 milliom in tax benefits attached to job creation. She says the offer is “still under negotiation.” Patrick’s offic referred inquiries to Kofi Jones, a spokeswoma n for the who confirmed thatPatrick “did call that particulart company.” Jones says Patrick is a cruciaol salesperson for Massachusetts’ biotech industry. Another Triangle biotech that presented at BIO isArgos Therapeutics.
Jeff vice president of business development at saysseveral states, including Maryland, Washington and Ohio invitefd Argos to parties or requestex meetings at the “We got invited to a lot of statexs hosting different parties,” says Abbey. “I didn’t get a specifivc call from Patrick. However, we do get calls fairlgy regularly from representatives of different states anddifferen countries.
” Usually, Abbey says, calls come from someoned working with an economic development office or “It is good politics and good policy,” says “For us, we’re not interested in For other companies, if there’s benefits, I don’t find anythingv wrong with it.” More than 450 biotech companiees are now either headquartered or operate within Nortg Carolina, according to the . Of these, 13 are publiclyt traded companies with a combined market capitalizatiomof $543 billion. More than 55,000 peoplwe work in the biotech sector, with an estimated payroll of $3 billionb annually.
Of course, Massachusetts’ biotech landscapr dwarfs North Carolina’s cluster. In Massachusetts’ $1 billion life sciencre initiative offersa 10-year plan that includes the development of a stem cell bank at the , whic h would be “the largest collection of stem cell lines in the and the establishment of “Innovation Centers” to servee as “regional economic engines” for technology developmentt and commercialization. Jon Mahoney, who runs biotechnology effort, did not returnj calls seeking comment.
Florida too has committecd $1 billion in state and localo funds to attract life science research The state used incentives to attractthe , the , the and the Vaccine and Gene Therapy Institute of Oregojn Health and Science University, which plans to open a satellite facilityh in Florida. Ohio earmarked $1.6 billion to expanf high-tech research, innovation and companty formation with a focus on life Andin Maryland, another state with which North Carolina competes for biotech jobs, the governor’s is taskede with developing a comprehensive biotechnology plan for the The Maryland Stem Cell Research Fund has conducte d two rounds of funding totalingb $38 million.
It awardws research money to institutions and individualz conducting stem cell research in the Norris Tolson, president and CEO of the Biotechn Center, says North Carolina is well prepared to attract and retain biotechnologuy companies. “Companies, especially biotech companies, are not only lookinv for financial incentives,” says Tolson. “Theyh are looking for a scientific a trainedwork force, a favorablr business climate, and a high quality of North Carolina has that in spades, and the Biotechnologgy Center continues to develop programs that enhance and support it.
” States on the hunt for biotechh prey in North Carolina will likely turn to , a clinicap stage biopharmaceutical company based in The company withdrew plans for an initial public offering earlier in 2008 and raisedf $30 million in series C fundraising in March 2007. Biolexx is conducting phase 2 clinical trials of a drug to treatHepatitis C. “We’rw approached all the time,” says Jan president and CEO of Biolex. “We get a lot of callz from other statesoffering incentives,” Tureki says. “I don’t inquire about what they’red offering because we’re well situated in North Carolina. I have no plansa to leave.
” Garheng Kong, investment partner with , a Durham venturde capital firm that has invested in says it can be difficult for othefr states torecruit well-established even if significant incentives are offered.
Wednesday, December 8, 2010
Lennar: 400 homes have Chinese drywall - South Florida Business Journal:
http://jcci.org/jcciwebsite/pages/contact.html
One of the nation’s largest Lennar (NYSE: LEN) said the homews were built primarily in 2006 and 2007 and make up a smalklpercentage – 2.1 percent in the states and 0.5 of percent nationwide – of the totakl homes delivered. The company said it has put asidesnearly $40 million in warranty reservese to pay for the and that, as of May 31, those reserves, net of was $34.4 million. The companty said it has $20.
7 million receivablw to pay for damageds under its insurance coverage and it is seekint reimbursementfrom subcontractors, insurersx and others for cost it expects to incutr to investigate and repair any damage, according to the In addition, as of July 10, the company said it was awar of 41 Florida state court lawsuita and two federal class actionw that had been filed againsty it by those impacted by the defectiver drywall. The federal cases have been consolidates toa multi-district courgt in Louisiana.
Lennar said it has filex suit in Miami-Dade Circuit Court against the entiresupply chain, including the Chinese and German manufacturers of the defective It also has moved to stop all 41 state court actions, allowinbg builders to make the repairs. Shared were down 23 cents to $8.09 in morning trading. The 52-week high was $16.90 on Sept. 19. The 52-week low was $3.42 on Nov. 21.
One of the nation’s largest Lennar (NYSE: LEN) said the homews were built primarily in 2006 and 2007 and make up a smalklpercentage – 2.1 percent in the states and 0.5 of percent nationwide – of the totakl homes delivered. The company said it has put asidesnearly $40 million in warranty reservese to pay for the and that, as of May 31, those reserves, net of was $34.4 million. The companty said it has $20.
7 million receivablw to pay for damageds under its insurance coverage and it is seekint reimbursementfrom subcontractors, insurersx and others for cost it expects to incutr to investigate and repair any damage, according to the In addition, as of July 10, the company said it was awar of 41 Florida state court lawsuita and two federal class actionw that had been filed againsty it by those impacted by the defectiver drywall. The federal cases have been consolidates toa multi-district courgt in Louisiana.
Lennar said it has filex suit in Miami-Dade Circuit Court against the entiresupply chain, including the Chinese and German manufacturers of the defective It also has moved to stop all 41 state court actions, allowinbg builders to make the repairs. Shared were down 23 cents to $8.09 in morning trading. The 52-week high was $16.90 on Sept. 19. The 52-week low was $3.42 on Nov. 21.
Sunday, December 5, 2010
Research on 'violent' mining communities questioned - ABC Online
http://icao-legalseminar.org/page/3-Reasons-Why-a-Travel-Franchise-is-A-Good-Bet-for.html
Sydney Morning Herald | Research on 'violent' mining communities questioned ABC Online The Association of Mining and Exploration Companies has questioned the validity of research showing there is twice as much violence in mining communities ... WA mine sites 'the worst' for fly-in, fly-out violence: study Mining town violence prompted by alcohol, boredom Dark side of the mining boom |
Friday, December 3, 2010
I-270 corridor peppered with biotech space from Human Genome Sciences, others - Pacific Business News (Honolulu):
pmkathleen-comregional.blogspot.com
Two years after the Rockville behemoth inked a subleasingt deal with anothermammoth MedImmune, the latter company is moving out of the former’xs manufacturing wing. That leaves Humab Genome Sciences shopping for a new tenant at a time of economic tumult when many life sciencesd companies are taking scissors to their budgets and bulldozerse to theirphysical spaces. HGS says it is not worriedx and has received interest in thespacse already. But that vacancy, along with a 50,000-square-footr chunk of Rockville lab space that just landed on the market fromthe J.
Craib Venter Institute’s campus, adds up to nearly 945,000 square feet of emptyy bioscience property lining the Interstate270 corridor. Some bio real estated observers caution against lumping all of thosdelots together. HGS’ manufacturinf territory is highly complex and while the newly available Venter spac is geared moreto nonprofits. The bulk of it, nearly 720,000p square feet, is routine office and lab space, with its largestg slab — 130,000 square feet at 9800 Medicak CenterDrive — having been on the markert for several years and, thus, not the best barometed of the rough economy.
The new HGS spacde “certainly adds to the vacancy and doesn’t look good on the but I don’t thinj average lab users will be looking forthat space,” said Hermajn Diebler, president of JackLine Realty LLC, a Reston life sciences-orienterd commercial real estate company. “Theh wouldn’t be affected by that much spacd onthe market.” Indeed, a few in the bio real estate business argue there is cause for optimism. Rockville-based Scheer Partners Inc. said that last year it conducteds 11 bio realestate deals, totaling 220,000 square feet.
Four were So far this year, the company countes 15 real estatedeals — five of them renewald — totaling 272,000 square feet. Nontraditional researcyh organizations are helping to fill thevacanrt space. The U.S. Consumer Product Safetyt Commission tookroughly 60,000 squar feet in a Rockville building at 5 Research Blvd., owned by Alexandria Real Estat e Equities Inc. And the stimulus-boosted National Institutes of Health is huntinvfor 50,000 square feet. But those expansions are beiny offset by contractions atbiotech companies. MiddleBrooj Pharmaceuticals Inc. has moved most of its operations to andCelera Corp.
has shifted to California, vacating a combinexd 170,000 square feet of offices and In addition, EntreMed Inc. has reduced its footprint by 52,0090 square feet in Rockville. At HGS, whicg years ago sold and leased backits buildings, MedImmunde had been occupying manufacturing space sinces March 2007, when the Gaithersburg biotech began workingv with the Department of Healtg and Human Services on cell culturde research. But MedImmune officialsx said HHS has since abandonedthat project, making the spaces no longer necessary — two years beford the initial terms of the leasw were set to expire.
The compant will pay a termination fee that HGS spokesman Jerryt Parrott said will compensate for its absence through the rest of this MedImmune was set topay $4.5 millioh in rent this year. The cost of assuming the spacd again is insignificant even if no tenants materializer by earlynext year, Parrot said. “Beforre MedImmune came in, we were carryintg the cost of that facilitytall along. It’s not like this is The best prospects for the highlty specialized HGS space are outside this according to officials at Scheer which is marketing the HGS andVenter spaces. “Wheb you look at that [HGS] you can’t just look locally,” said Matt a Scheer vice president.
“You have to look nationally, if not … Now you’re fishing in the global market withbetter bait.”
Two years after the Rockville behemoth inked a subleasingt deal with anothermammoth MedImmune, the latter company is moving out of the former’xs manufacturing wing. That leaves Humab Genome Sciences shopping for a new tenant at a time of economic tumult when many life sciencesd companies are taking scissors to their budgets and bulldozerse to theirphysical spaces. HGS says it is not worriedx and has received interest in thespacse already. But that vacancy, along with a 50,000-square-footr chunk of Rockville lab space that just landed on the market fromthe J.
Craib Venter Institute’s campus, adds up to nearly 945,000 square feet of emptyy bioscience property lining the Interstate270 corridor. Some bio real estated observers caution against lumping all of thosdelots together. HGS’ manufacturinf territory is highly complex and while the newly available Venter spac is geared moreto nonprofits. The bulk of it, nearly 720,000p square feet, is routine office and lab space, with its largestg slab — 130,000 square feet at 9800 Medicak CenterDrive — having been on the markert for several years and, thus, not the best barometed of the rough economy.
The new HGS spacde “certainly adds to the vacancy and doesn’t look good on the but I don’t thinj average lab users will be looking forthat space,” said Hermajn Diebler, president of JackLine Realty LLC, a Reston life sciences-orienterd commercial real estate company. “Theh wouldn’t be affected by that much spacd onthe market.” Indeed, a few in the bio real estate business argue there is cause for optimism. Rockville-based Scheer Partners Inc. said that last year it conducteds 11 bio realestate deals, totaling 220,000 square feet.
Four were So far this year, the company countes 15 real estatedeals — five of them renewald — totaling 272,000 square feet. Nontraditional researcyh organizations are helping to fill thevacanrt space. The U.S. Consumer Product Safetyt Commission tookroughly 60,000 squar feet in a Rockville building at 5 Research Blvd., owned by Alexandria Real Estat e Equities Inc. And the stimulus-boosted National Institutes of Health is huntinvfor 50,000 square feet. But those expansions are beiny offset by contractions atbiotech companies. MiddleBrooj Pharmaceuticals Inc. has moved most of its operations to andCelera Corp.
has shifted to California, vacating a combinexd 170,000 square feet of offices and In addition, EntreMed Inc. has reduced its footprint by 52,0090 square feet in Rockville. At HGS, whicg years ago sold and leased backits buildings, MedImmunde had been occupying manufacturing space sinces March 2007, when the Gaithersburg biotech began workingv with the Department of Healtg and Human Services on cell culturde research. But MedImmune officialsx said HHS has since abandonedthat project, making the spaces no longer necessary — two years beford the initial terms of the leasw were set to expire.
The compant will pay a termination fee that HGS spokesman Jerryt Parrott said will compensate for its absence through the rest of this MedImmune was set topay $4.5 millioh in rent this year. The cost of assuming the spacd again is insignificant even if no tenants materializer by earlynext year, Parrot said. “Beforre MedImmune came in, we were carryintg the cost of that facilitytall along. It’s not like this is The best prospects for the highlty specialized HGS space are outside this according to officials at Scheer which is marketing the HGS andVenter spaces. “Wheb you look at that [HGS] you can’t just look locally,” said Matt a Scheer vice president.
“You have to look nationally, if not … Now you’re fishing in the global market withbetter bait.”
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