Banners a link to the past for area high schools Watertown Public Opinion They may no longer exist, but the banners of the six school comprising the current Deuel school district hang proudly in the gym in Clear Lake. Remembering the past is becoming a popular thing to do in high school gyms in the area. Clark, Howard and ... |
Monday, December 31, 2012
Banners a link to the past for area high schools - Watertown Public Opinion
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Sunday, December 30, 2012
Watch Blake Griffin initiate rookie Jared Sullinger [Video] - Los Angeles Times
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Watch Blake Griffin initiate rookie Jared Sullinger [Video] Los Angeles Times OK, this wasn't quite Mozgov Part II. How about Mozgov-ian? Celtics rookie forward Jared Sullinger gamely tried to prevent a Blake Griffin dunk with a hard foul, receiving a flagrant foul 1 for his trouble in the third quarter of the latest Clippers ... |
Thursday, December 27, 2012
2013 Subaru BRZ Limited – Icy/Dicey! - TFLcar.com
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TFLcar.com | 2013 Subaru BRZ Limited â€" Icy/Dicey! TFLcar.com It's early Sunday morning, something like 4:45am. The ambient temperature hovers around 20 degrees fahrenheit and a layer of thick, icy fog hangs just above the ground. “(Expletive), I'm going to miss my flight,†I thought, as I feverishly ridded my ... |
Wednesday, December 26, 2012
PG&E signs solar power deal - Sacramento Business Journal:
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The project, which will be located in Antelopw Valley, is expected to produce 592 gigawatt-hourd of electricity each yearfor PG&E customerds throughout Northern and Central California, enougjh energy to power 90,000 average AV Solar Ranch 1 is a subsidiary of San Francisco-basexd LLC. “This agreement will help increase the amount of clean energy we provide to our customerse and reduce greenhousegas emissions,” John Conway, senior vice president of energg supply for PG&E, said in a news “Contracting with companies like NextLight is just one of the many ways in which PG&d is harnessing the power of the sun to meet our energy needs.
” “The project will provide cost-effectivw electricity to PG&E’s customers, create jobs and localp economic benefits for the Antelope Valley, and contribute to California’sx renewable energy goals.” Frank DeRosa, chiefg executive officer of NextLight, said in a news The project is expected to begij deliveries in 2011 and be fully operationall by late 2013. This is the third major solafr power dealSan Francisco-basedc PG&E (NYSE: PGE) has signed this year.
The project, which will be located in Antelopw Valley, is expected to produce 592 gigawatt-hourd of electricity each yearfor PG&E customerds throughout Northern and Central California, enougjh energy to power 90,000 average AV Solar Ranch 1 is a subsidiary of San Francisco-basexd LLC. “This agreement will help increase the amount of clean energy we provide to our customerse and reduce greenhousegas emissions,” John Conway, senior vice president of energg supply for PG&E, said in a news “Contracting with companies like NextLight is just one of the many ways in which PG&d is harnessing the power of the sun to meet our energy needs.
” “The project will provide cost-effectivw electricity to PG&E’s customers, create jobs and localp economic benefits for the Antelope Valley, and contribute to California’sx renewable energy goals.” Frank DeRosa, chiefg executive officer of NextLight, said in a news The project is expected to begij deliveries in 2011 and be fully operationall by late 2013. This is the third major solafr power dealSan Francisco-basedc PG&E (NYSE: PGE) has signed this year.
Monday, December 24, 2012
Despite Hints of Economic Recovery, Optimism's Scarce for the Year Ahead - ABC News (blog)
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Despite Hints of Economic Recovery, Optimism's Scarce for the Year Ahead ABC News (blog) With three-quarters of Americans saying the economy's still in a recession, optimism both about personal and global prospects in the year ahead are at their lowest in 11 years. Nonetheless, unlike the past three years, a majority at least says an ... |
Sunday, December 23, 2012
Saturday, December 22, 2012
2009 WNY middle school rankings - Charlotte Business Journal:
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Profiles of the top 25 schools can be reachedc by clicking on the names of those schools A breakdown of the rankings for each sectionb of Western New York can be accessedby . The followinyg abbreviations havebeen used: CS-Charter School, EMS-Elementary-Middls School, ES-Elementary School, HS-High School, IS-Intermediat e School, JHS-Junior High School, JSHS-Junior-Senior High School, MHS-Middle-Higuh School, MS-Middle School, PS-Primary School, SHS-Senior High VHS-Vocational High School. Each school is followee by the name of the district that operateswit (if it’s a public or the district where it is located (if it’s a privat school). • 1. • 2. • 3. • 4. 5.
• 6. • 7. • 8. 9. • 10. • 11. 12. • 13. • 14. 15.
Profiles of the top 25 schools can be reachedc by clicking on the names of those schools A breakdown of the rankings for each sectionb of Western New York can be accessedby . The followinyg abbreviations havebeen used: CS-Charter School, EMS-Elementary-Middls School, ES-Elementary School, HS-High School, IS-Intermediat e School, JHS-Junior High School, JSHS-Junior-Senior High School, MHS-Middle-Higuh School, MS-Middle School, PS-Primary School, SHS-Senior High VHS-Vocational High School. Each school is followee by the name of the district that operateswit (if it’s a public or the district where it is located (if it’s a privat school). • 1. • 2. • 3. • 4. 5.
• 6. • 7. • 8. 9. • 10. • 11. 12. • 13. • 14. 15.
Thursday, December 20, 2012
Extended Stay Hotels files Chapter 11 - The Business Journal of the Greater Triad Area:
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The Spartanburg, S.C.-based compang filed the reorganization petition in New Yorkbankruptc court, Secretary and General Counselk Joseph Teichman writing that Extended Stay had about $7.1 billioj in assets and $7.6 billion in liabilities at the end of 2008. Extendedr Stay, whose more than 680 properties are managed byHVM LLC, has five propertie s in the Triad. The company bills itself as the largestg operatorof mid-priced extended-stay hotels in the nation. Teichman in a couryt filing on Monday wrote that the company sought protectioh from creditors amid a general downturn in the hospitalityh industry and a hit taken as fewetr potential customers needthe company’xs services.
“Since the typical Extended Stay customer seeksz a lengthy stay based oncommercial relocation, the contraction of constructiobn and new business development began to significantly and adversely affected Extended Stay’s revenue stream,” Teichman wrote. The company said its average revenue per room dropped about 23 percent in the firstt five months of the year compared with the same perioddof 2008.
As a result, it was unable to deal with its debt burden with cash flow and is seekinga “comprehensivse restructuring of the entire capital Extended Stay said it planws to run operations following the Chapter 11 petition unded a lender-approved arrangement using cash Debtor-in-possession financing won’t be needed, the compang said. About 9,900 employees work in hotelas operated byExtended Stay. The compangy is in 44 states and hasabout 77,00 0 rooms.
The Spartanburg, S.C.-based compang filed the reorganization petition in New Yorkbankruptc court, Secretary and General Counselk Joseph Teichman writing that Extended Stay had about $7.1 billioj in assets and $7.6 billion in liabilities at the end of 2008. Extendedr Stay, whose more than 680 properties are managed byHVM LLC, has five propertie s in the Triad. The company bills itself as the largestg operatorof mid-priced extended-stay hotels in the nation. Teichman in a couryt filing on Monday wrote that the company sought protectioh from creditors amid a general downturn in the hospitalityh industry and a hit taken as fewetr potential customers needthe company’xs services.
“Since the typical Extended Stay customer seeksz a lengthy stay based oncommercial relocation, the contraction of constructiobn and new business development began to significantly and adversely affected Extended Stay’s revenue stream,” Teichman wrote. The company said its average revenue per room dropped about 23 percent in the firstt five months of the year compared with the same perioddof 2008.
As a result, it was unable to deal with its debt burden with cash flow and is seekinga “comprehensivse restructuring of the entire capital Extended Stay said it planws to run operations following the Chapter 11 petition unded a lender-approved arrangement using cash Debtor-in-possession financing won’t be needed, the compang said. About 9,900 employees work in hotelas operated byExtended Stay. The compangy is in 44 states and hasabout 77,00 0 rooms.
Wednesday, December 19, 2012
Kroger president to retire - Atlanta Business Chronicle:
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Cincinnati-based Kroger (NYSE:KR) said Don McGeorge, presiden and chief operating officer, plans to work with the companu until late in the year to help with the executive Toreplace McGeorge, the company’s boarfd tapped Vice Chairman Rodney McMullen, 48. McGeorge, 55, startee out in 1977 as a store co-manager in Louisvillew and went on tolead Kroger’s Michigan and Columbu divisions. He’s served as president sincse 2003. McMullen officially steps intothe president’sx post Aug. 1.
He joined Kroge r in 1978 as a part-time clerk and has served as corporate controller, chief financial officer and executive vice The company said McGeorge will serv as a special adviser to CEO Davix Dillon and remain on the boarr as he assists in the Kroger operates morethan 2,40o supermarkets and multi-department stores in 31 including 131 in metro
Cincinnati-based Kroger (NYSE:KR) said Don McGeorge, presiden and chief operating officer, plans to work with the companu until late in the year to help with the executive Toreplace McGeorge, the company’s boarfd tapped Vice Chairman Rodney McMullen, 48. McGeorge, 55, startee out in 1977 as a store co-manager in Louisvillew and went on tolead Kroger’s Michigan and Columbu divisions. He’s served as president sincse 2003. McMullen officially steps intothe president’sx post Aug. 1.
He joined Kroge r in 1978 as a part-time clerk and has served as corporate controller, chief financial officer and executive vice The company said McGeorge will serv as a special adviser to CEO Davix Dillon and remain on the boarr as he assists in the Kroger operates morethan 2,40o supermarkets and multi-department stores in 31 including 131 in metro
Tuesday, December 18, 2012
Child-literacy group honored for bringing libraries back to schools - Philadelphia Public School Notebook (blog)
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Philadelphia Public School Notebook (blog) | Child-literacy group honored for bringing libraries back to schools Philadelphia Public School Notebook (blog) Library time at Blankenburg Elementary, one of the 12 schools whose libraries are run by West Philadelphia Alliance for Children. by Kofi Biney. The mere idea of having access to a school library is a slim hope for many Philadelphia students. But one ... |
Sunday, December 16, 2012
Shaken Baby Syndrome: plaguing the Tri-Cities | Local & Regional | KEPR CBS ... - KEPR 19
hydiuco.blogspot.com
KEPR 19 | Shaken Baby Syndrome: plaguing the Tri-Cities | Local & Regional | KEPR CBS ... KEPR 19 TRI-CITIES - The problem of Shaken Baby Syndrome continues to plague the Tri-Cities. Health experts try to educate new parents about how easy it is to cause long-lasting damage or even death -- but the problem still persists. KEPR spoke with one family ... |
Saturday, December 15, 2012
GDGT 2012 Video Gallery - Maximum PC
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GDGT 2012 Video Gallery Maximum PC Linksys was excited to show off its new wireless routers, AC media bridge, and new router options, including easier to configure QOS options. One of the things Linksys is pushing is parental controls integrated into the router. Much to the chagrin of ... |
Wednesday, December 12, 2012
Head of YRC Worldwide logistics unit will leave company - Kansas City Business Journal:
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YRC Logistics CEO and President Jim Ritchie will transfert his responsibilities to John who had been COO of the divisionj and President of YRC Logisticzs in the Americasand Europe, the Overland Park-based trucking giany (Nasdaq: YRCW) said in a Wednesda statement to the Kansas City Businesd Journal . Carr will handler the unit’s overall leadership as president and will report to company Chairman and CEOBill “YRC Worldwide continuously reviews its organizational structuress to consider customer requirements, business volumesa and efficiencies,” the statement said.
“Since its inception (in) 2002, the YRC Logistics businesss has matured as an marking impressive growthand improvements. In light of as well as the current economy, we have decider that it is unnecessaryt to have both a CEO and a president at YRC and we should combine the two roles into a singledleadership position.” Last year, the logistics unit poste d revenue of $621.7 down less than 1 percent from $623.w2 million the prior year. The unit accounted for aboutg 7 percentof YRC’s $8.
94 billion in annual Ritchie, who was with the logisticw unit for nine years, will start June 1 as president of , a divisio of Australia-based , according to a May 6 He’ll be based in Florida. Brambles is a global provider of supporrt services and had totao assetsof $5.6 billion on June 30, according to its Web CHEP offers pallet and container poolinvg services. “Jim is a very accomplishedx executive and with extensive customer and operationao experience in logistics and the USAsupplyu chain,” Brambles CEO Mike Ihlein said in the “In particular, Jim’s strong relationships with customersd in the fast-moving consumer goods sectotr will be of great benefit to CHEP USA.
” Beforde heading up YRC Logistics, Ritchie was CEO of both Yello Global and Transportation.com. He also held executive positionsat . Zollarss was a senior vice president at Ryder Integratedr Logistics beforejoining , which later became YRC YRC recruited Carr in 2007 “foer his considerable supply chai n experience and to grow our leadership the statement said. He joined as presidenr of YRC Logistics in the Americas and He previously was president of Global Supply Chain Managemenrtfor , an executive vice president of salezs and marketing at Fritz Cos.
and in leadership positions at Profit/ (GEO Logistics), Pandair Freight and Behring International, according to a biography on the company’s Web site. YRC’s stoc closed on Wednesday at $2.94, down 61 or 17 percent, on volume of 5.65 milliom shares, according to . The stock's average dailh volume the past three monthsis 2.7 million , YRC Worldwide CFO Stephen Bruffett resigned for a positiomn with YRC competitor (NYSE: CNW). YRC, which has been strugglin with a freight recession for acouple , compared with a loss of $46.37 milliob the prior year. The company ranks No. 2 on the Kansax City Business Journal ’s list of area publidc companies.
YRC Logistics CEO and President Jim Ritchie will transfert his responsibilities to John who had been COO of the divisionj and President of YRC Logisticzs in the Americasand Europe, the Overland Park-based trucking giany (Nasdaq: YRCW) said in a Wednesda statement to the Kansas City Businesd Journal . Carr will handler the unit’s overall leadership as president and will report to company Chairman and CEOBill “YRC Worldwide continuously reviews its organizational structuress to consider customer requirements, business volumesa and efficiencies,” the statement said.
“Since its inception (in) 2002, the YRC Logistics businesss has matured as an marking impressive growthand improvements. In light of as well as the current economy, we have decider that it is unnecessaryt to have both a CEO and a president at YRC and we should combine the two roles into a singledleadership position.” Last year, the logistics unit poste d revenue of $621.7 down less than 1 percent from $623.w2 million the prior year. The unit accounted for aboutg 7 percentof YRC’s $8.
94 billion in annual Ritchie, who was with the logisticw unit for nine years, will start June 1 as president of , a divisio of Australia-based , according to a May 6 He’ll be based in Florida. Brambles is a global provider of supporrt services and had totao assetsof $5.6 billion on June 30, according to its Web CHEP offers pallet and container poolinvg services. “Jim is a very accomplishedx executive and with extensive customer and operationao experience in logistics and the USAsupplyu chain,” Brambles CEO Mike Ihlein said in the “In particular, Jim’s strong relationships with customersd in the fast-moving consumer goods sectotr will be of great benefit to CHEP USA.
” Beforde heading up YRC Logistics, Ritchie was CEO of both Yello Global and Transportation.com. He also held executive positionsat . Zollarss was a senior vice president at Ryder Integratedr Logistics beforejoining , which later became YRC YRC recruited Carr in 2007 “foer his considerable supply chai n experience and to grow our leadership the statement said. He joined as presidenr of YRC Logistics in the Americas and He previously was president of Global Supply Chain Managemenrtfor , an executive vice president of salezs and marketing at Fritz Cos.
and in leadership positions at Profit/ (GEO Logistics), Pandair Freight and Behring International, according to a biography on the company’s Web site. YRC’s stoc closed on Wednesday at $2.94, down 61 or 17 percent, on volume of 5.65 milliom shares, according to . The stock's average dailh volume the past three monthsis 2.7 million , YRC Worldwide CFO Stephen Bruffett resigned for a positiomn with YRC competitor (NYSE: CNW). YRC, which has been strugglin with a freight recession for acouple , compared with a loss of $46.37 milliob the prior year. The company ranks No. 2 on the Kansax City Business Journal ’s list of area publidc companies.
Tuesday, December 11, 2012
Business Alliance joins corporate tax fray - San Antonio Business Journal:
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The proposal, put forward by House and Senate would boostthe state’s corporate minimum tax from the curreng $10 level to between $150, for companies earning less than and $100,000 for companies earning more than $250 million. “Thw $10 Oregon corporate minimum tax has become a source of publix scrutinyand controversy,” wrote Steve Holwerda, the group'sd chair, in a news release. “Wse agree that the minimum tax should be but believe the changes must be modest and reasonable as the minimujm taxesall (C-corporations) whether they are profitable or not.
” chief operating officer of Portland’s Fergusojn Wellman Capital Management, added that the proposal “would be a majot disincentive to operating a business in Oregon and is particularlu harmful to businesses that are already losing Holwerda sent a letter to the group'ss members a day after Democrats have revised a May proposap that would have charged a minimum betweehn $250 and $60,000. The group also called for the state to use rainyhday funds, reserve funds and stimulue money to help solve Oregon’s $4.2 billion The group further expressed concern about “what appears to be an sentiment” in Salem.
“For our state to be all sectors need to be successful and we need to join togethef to makethat happen,” Holwerda
The proposal, put forward by House and Senate would boostthe state’s corporate minimum tax from the curreng $10 level to between $150, for companies earning less than and $100,000 for companies earning more than $250 million. “Thw $10 Oregon corporate minimum tax has become a source of publix scrutinyand controversy,” wrote Steve Holwerda, the group'sd chair, in a news release. “Wse agree that the minimum tax should be but believe the changes must be modest and reasonable as the minimujm taxesall (C-corporations) whether they are profitable or not.
” chief operating officer of Portland’s Fergusojn Wellman Capital Management, added that the proposal “would be a majot disincentive to operating a business in Oregon and is particularlu harmful to businesses that are already losing Holwerda sent a letter to the group'ss members a day after Democrats have revised a May proposap that would have charged a minimum betweehn $250 and $60,000. The group also called for the state to use rainyhday funds, reserve funds and stimulue money to help solve Oregon’s $4.2 billion The group further expressed concern about “what appears to be an sentiment” in Salem.
“For our state to be all sectors need to be successful and we need to join togethef to makethat happen,” Holwerda
Monday, December 10, 2012
CEO turnover rises in May - Charlotte Business Journal:
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According to outplacement consultancyfirm , May departures were up 47 perceny from April, when 78 CEOs left theit posts. Last month’s total was unchangecd from May 2008. The financial sectotr had the highest turnovetlast month, accounting for 15 of the 115 CEO changesx recorded. For the year, the still-strugglinb sector has seen 50 CEOs resign, retire, step down or be forcef out. That’s down from 64 financial CEO departures at this poingtin 2008. Despite the financial sector’s problems, it is not the industrg with the highest CEO turnover for the first five monthas ofthe year. The health-care industry has seen 77 CEO departurew so farthis year, including 14 in May.
The 2009 figurwe is down 29 percent from ayear ago, when 109 health-carw CEOs vacated their offices in the firsr five months. So far this year, 502 CEO departuresx have been recorded, nearly 16 percent fewe than the 598 announcexd in the same period ayear ago.
According to outplacement consultancyfirm , May departures were up 47 perceny from April, when 78 CEOs left theit posts. Last month’s total was unchangecd from May 2008. The financial sectotr had the highest turnovetlast month, accounting for 15 of the 115 CEO changesx recorded. For the year, the still-strugglinb sector has seen 50 CEOs resign, retire, step down or be forcef out. That’s down from 64 financial CEO departures at this poingtin 2008. Despite the financial sector’s problems, it is not the industrg with the highest CEO turnover for the first five monthas ofthe year. The health-care industry has seen 77 CEO departurew so farthis year, including 14 in May.
The 2009 figurwe is down 29 percent from ayear ago, when 109 health-carw CEOs vacated their offices in the firsr five months. So far this year, 502 CEO departuresx have been recorded, nearly 16 percent fewe than the 598 announcexd in the same period ayear ago.
Saturday, December 8, 2012
TXCO Resources raising $20 million in private placement - San Antonio Business Journal:
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San Antonio-based TXC0 (NASDAQ: TXCO) has agreed to sell 20,00o0 shares of Series E ConvertiblePreferred Stock, whicy can be converted to TXCO common sharesz at a price of $17.36 per share. In connectionb with the private the company has agreed to exchange its sharesx of Series C ConvertiblePreferred Stock, issued back in November into common stock at $14.49 per share. The closing and fundingf are expected to occur on or beforeMarch 4, 2008. TXCO pland to use the net proceedw from the sale of Seriese E preferred stock to complemen its 2008 capital expenditurwdrilling program.
The companyu also may use the proceeds inthe short-term to repayu certain outstanding indebtedness, pay expensesw associated with the offering as well as generaol corporate and working Holders of the Series E preferred stock are entitled to dividende of 6 percent per annual, among other things. LLC served as the placement agent for theprivater offering. TXCO is an independent oil and gas explorationm andproduction company.
San Antonio-based TXC0 (NASDAQ: TXCO) has agreed to sell 20,00o0 shares of Series E ConvertiblePreferred Stock, whicy can be converted to TXCO common sharesz at a price of $17.36 per share. In connectionb with the private the company has agreed to exchange its sharesx of Series C ConvertiblePreferred Stock, issued back in November into common stock at $14.49 per share. The closing and fundingf are expected to occur on or beforeMarch 4, 2008. TXCO pland to use the net proceedw from the sale of Seriese E preferred stock to complemen its 2008 capital expenditurwdrilling program.
The companyu also may use the proceeds inthe short-term to repayu certain outstanding indebtedness, pay expensesw associated with the offering as well as generaol corporate and working Holders of the Series E preferred stock are entitled to dividende of 6 percent per annual, among other things. LLC served as the placement agent for theprivater offering. TXCO is an independent oil and gas explorationm andproduction company.
Friday, December 7, 2012
Ryan & Maniskas, LLP Announces Investigation of Epoch Investment Partners, Inc. - DailyFinance
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Ryan & Maniskas, LLP Announces Investigation of Epoch Investment Partners, Inc. DailyFinance If you own shares of Epoch and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or ... |
Thursday, December 6, 2012
YRC Worldwide sells HQ to load up more cash - Puget Sound Business Journal (Seattle):
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But it didn’t go far. A groulp of local investors led by Ken Blocjk andSteve Block, principals of Kansads City real estate firm , bought the Overlandc Park headquarters in a sale-leaseback deal that includesa a potential 30-year lease for YRC. The company did not disclos e the priceor buyer, and Ken Block said he couldn’f comment because of a confidentiality but a YRC Securities and Exchange Commission filing suggests the purchase pricr was $22.5 million.
Johnson County lists the property’ appraised value at close to $25 “The monetization of real estate assets is a part ofYRC Worldwide’ ongoing financial strategy to weather the (economic) recessionn and enhance its liquidityg position,” YRC said in a statement e-mailed to the Kansaes City Business Journal . “The YRC Worldwidse corporate headquarters is and will continue to be located in theOverlans Park, Kan., location.” YRC said the deal was part of $176 milliom in property sales and sale-leasebacks completed in the first which ended March 31. But according to the , the deal closedx May 1.
The lease has an initial term of10 years, plus two 10-yeafr renewal options, YRC said. The sale included two the company said. Appraiser’s office records list the property as havin a total building areaof 295,000 square built in 1972, on 21.5 acres. The transaction appears to be reflectesdin YRC’s first-quarter SEC filiny as a March 31 offics complex deal for $22.5 million, which minusz transaction costs equaled $19.8 million. Annual lease payments will beabout $3.4 million. the assets and long-term debt in the amount of the proceeds remainon YRC’s balanc e sheet. Half the proceeds went into an escrow the rest were used to paydown YRC’s credit the filing said.
The price, about $76 a squar e foot, is consistent with that of oldedr Class B office properties in SoutherhnJohnson County, said Tim Schaffer, executivse vice president of . Office buildings in that area can rangrefrom $70 to $160 a square foot for Clasxs B-minus through Class A space and variousx tenant situations, he said. The propertg never was publicly on the Schaffer said. Other price factorsz include the tenant’s credit, the reuss potential of buildings, the risk the buildings’ age, the agreed-upon rent, and taxesd and operating costs.
“You’ve got to assume when you’re buying it that you’ve got a good ulteriod plan in case thatcompanty doesn’t exist at some poingt during that 30-year lease,” Schaffer “It speaks to the quality of the locationj for a group to take that level of The headquarters, which looms over Interstates 435 on Roe Avenue, offere “some pretty amazing opportunities that don’t exisr anywhere else in a mature environment like he said. Analyst David Silver of said YRC’s propertyt sales provide vital liquidity in theshort term. Long they force YRC to focus on its core holding s and integrate intoa single, solid he said.
YRC seems to be accepting low offers, said who doesn’t own YRC shares. “Peopld that they’re selling to see blood in thewater they’re really taking advantage,” he said. “Threed years ago, if they had sold, they woulr have gotten much better values. But they’rwe getting somewhat fair values.” YRC which posted a $257.34 million loss in the first quarter has cut wages in exchange for ownershi inthe company, eliminated thousands of amended bank covenants and begun negotiating to defed $120 million in union pension fund payments using real estate as collateral.
With slumpinbg freight volumes, the company acceleratex the integrationof subsidiaries, creating excess propertu and layoffs. In the second YRC expects to doabout $200 million in Chairman and CEO Bill Zollarss said in a recent presentation. The companyg plans at least $100 million in excess property salesdthis year, he said. Analyst Lee Klasko of , who doesn’t own YRC predicted earnings of 2 cents a share for allof 2010. Silverr estimated a return to profitability by the seconf quarterof 2010.
But it didn’t go far. A groulp of local investors led by Ken Blocjk andSteve Block, principals of Kansads City real estate firm , bought the Overlandc Park headquarters in a sale-leaseback deal that includesa a potential 30-year lease for YRC. The company did not disclos e the priceor buyer, and Ken Block said he couldn’f comment because of a confidentiality but a YRC Securities and Exchange Commission filing suggests the purchase pricr was $22.5 million.
Johnson County lists the property’ appraised value at close to $25 “The monetization of real estate assets is a part ofYRC Worldwide’ ongoing financial strategy to weather the (economic) recessionn and enhance its liquidityg position,” YRC said in a statement e-mailed to the Kansaes City Business Journal . “The YRC Worldwidse corporate headquarters is and will continue to be located in theOverlans Park, Kan., location.” YRC said the deal was part of $176 milliom in property sales and sale-leasebacks completed in the first which ended March 31. But according to the , the deal closedx May 1.
The lease has an initial term of10 years, plus two 10-yeafr renewal options, YRC said. The sale included two the company said. Appraiser’s office records list the property as havin a total building areaof 295,000 square built in 1972, on 21.5 acres. The transaction appears to be reflectesdin YRC’s first-quarter SEC filiny as a March 31 offics complex deal for $22.5 million, which minusz transaction costs equaled $19.8 million. Annual lease payments will beabout $3.4 million. the assets and long-term debt in the amount of the proceeds remainon YRC’s balanc e sheet. Half the proceeds went into an escrow the rest were used to paydown YRC’s credit the filing said.
The price, about $76 a squar e foot, is consistent with that of oldedr Class B office properties in SoutherhnJohnson County, said Tim Schaffer, executivse vice president of . Office buildings in that area can rangrefrom $70 to $160 a square foot for Clasxs B-minus through Class A space and variousx tenant situations, he said. The propertg never was publicly on the Schaffer said. Other price factorsz include the tenant’s credit, the reuss potential of buildings, the risk the buildings’ age, the agreed-upon rent, and taxesd and operating costs.
“You’ve got to assume when you’re buying it that you’ve got a good ulteriod plan in case thatcompanty doesn’t exist at some poingt during that 30-year lease,” Schaffer “It speaks to the quality of the locationj for a group to take that level of The headquarters, which looms over Interstates 435 on Roe Avenue, offere “some pretty amazing opportunities that don’t exisr anywhere else in a mature environment like he said. Analyst David Silver of said YRC’s propertyt sales provide vital liquidity in theshort term. Long they force YRC to focus on its core holding s and integrate intoa single, solid he said.
YRC seems to be accepting low offers, said who doesn’t own YRC shares. “Peopld that they’re selling to see blood in thewater they’re really taking advantage,” he said. “Threed years ago, if they had sold, they woulr have gotten much better values. But they’rwe getting somewhat fair values.” YRC which posted a $257.34 million loss in the first quarter has cut wages in exchange for ownershi inthe company, eliminated thousands of amended bank covenants and begun negotiating to defed $120 million in union pension fund payments using real estate as collateral.
With slumpinbg freight volumes, the company acceleratex the integrationof subsidiaries, creating excess propertu and layoffs. In the second YRC expects to doabout $200 million in Chairman and CEO Bill Zollarss said in a recent presentation. The companyg plans at least $100 million in excess property salesdthis year, he said. Analyst Lee Klasko of , who doesn’t own YRC predicted earnings of 2 cents a share for allof 2010. Silverr estimated a return to profitability by the seconf quarterof 2010.
Tuesday, December 4, 2012
Monday, December 3, 2012
EnerJex completes independent audit - Kansas City Business Journal:
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In a release Thursday, the company provided no details about results of theindependentr audit. Company spokeswoman Debbie Hagen said thecompany isn' commenting about the audit beyond the release. On , the Overlande Park-based company (OTCBB: reported a third-quarter loss of $719,517, or 3 cents a share, on revenue of $1.5 This compared with a loss of or 2 cents a on revenueof $24,491 a year earlier. The company was forme d in December 2005 and startedc acquiring oil leases inApril 2007. EnerJex said that it was seekinvg to list its common stock onthe , offe r as much as $28 million worth of common stocmk and get stockholder approval of a 1-for-5 reverse stock split.
EnerJec is an oil and natural gas exploration anddevelopment company. Its main strategy is to focuds on the acquisition of oil and natural gas mineral leases with existing production andcash flow.
In a release Thursday, the company provided no details about results of theindependentr audit. Company spokeswoman Debbie Hagen said thecompany isn' commenting about the audit beyond the release. On , the Overlande Park-based company (OTCBB: reported a third-quarter loss of $719,517, or 3 cents a share, on revenue of $1.5 This compared with a loss of or 2 cents a on revenueof $24,491 a year earlier. The company was forme d in December 2005 and startedc acquiring oil leases inApril 2007. EnerJex said that it was seekinvg to list its common stock onthe , offe r as much as $28 million worth of common stocmk and get stockholder approval of a 1-for-5 reverse stock split.
EnerJec is an oil and natural gas exploration anddevelopment company. Its main strategy is to focuds on the acquisition of oil and natural gas mineral leases with existing production andcash flow.
Sunday, December 2, 2012
Mass. bankruptcies jumped in Q1 - Boston Business Journal:
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There were 3,285 Chapter 7 filings under ofthe U.S. bankruptcu code in the firsf quarterof 2009, up from 2,833 during the first quarter last The filings were also 7 percent higher than the fourtuh quarter of 2008, when 3,072 filersd sought Chapter 7 protection. According to The Warren Group, Chapter 7s fell dramaticallyu in 2006 after a federal law went into effectg that tightened thefiling requirements. But filingse have started to escalate again, steadily increasinvg for the pastthree quarters. Chapter 7 bankruptcy accounted for 82 perceny of bankruptcy filings in Massachusettds in thefirst quarter.
Peopls file Chapter 7 bankruptcy to eliminatew debtafter non-exempt assets are used to pay off Meanwhile, filings under Chapter 13 of the U.S. bankruptchy code have declined. A tota of 675 filers sought protection under Chapter 13 in thefirst quarter, down 39 percent from 1,106 in during the same months in 2008. The first quarter’sa filings were 14 percenty lower than the 788 filings in thefourth quarter. Chapteer 13 requires debtors to arrange fora three-- or five-year debt-repayment plan. Unlike Chapter 7 filings, Chapter 13 filingws have decreased in the lastfour quarters.
There were 3,285 Chapter 7 filings under ofthe U.S. bankruptcu code in the firsf quarterof 2009, up from 2,833 during the first quarter last The filings were also 7 percent higher than the fourtuh quarter of 2008, when 3,072 filersd sought Chapter 7 protection. According to The Warren Group, Chapter 7s fell dramaticallyu in 2006 after a federal law went into effectg that tightened thefiling requirements. But filingse have started to escalate again, steadily increasinvg for the pastthree quarters. Chapter 7 bankruptcy accounted for 82 perceny of bankruptcy filings in Massachusettds in thefirst quarter.
Peopls file Chapter 7 bankruptcy to eliminatew debtafter non-exempt assets are used to pay off Meanwhile, filings under Chapter 13 of the U.S. bankruptchy code have declined. A tota of 675 filers sought protection under Chapter 13 in thefirst quarter, down 39 percent from 1,106 in during the same months in 2008. The first quarter’sa filings were 14 percenty lower than the 788 filings in thefourth quarter. Chapteer 13 requires debtors to arrange fora three-- or five-year debt-repayment plan. Unlike Chapter 7 filings, Chapter 13 filingws have decreased in the lastfour quarters.
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