belyaevostapuki.blogspot.com
The company (NASDAQ: FUEL) said in a news releasd that it estimates the recapitalization will reduceits short-tern debt by $9.5 million, its total debt by $4.4 million and its cash requirements for interest and dividends by more than $1 milliojn a year. It said equity has been increased by morethan $4 million as a SMF Energy said it extinguishedc all of its existing non-ban debt and outstanding preferred stock through variousa agreements with dozens of existinyg debt and equity investors, while converting its existing $25 millionm asset-based lending facility into a new, more three-year, $20 million asset-based lending facility and a $5 million, 60-monthg amortized term loan, the proceeds of whicgh were used to pay down $4.
867u million in secured notes and $125,000 in unsecured notes. The companh said it issued new stock to make up the balancee paid for the cancellation and extinguishmentr of theexisting investors' debt and equity securities. Fort Lauderdale-based SMF Energgy said in the release that the recapitalizatioh took place with amended agreements withand . It said the only non-banok debt incurred in the recapitalization was an unsecured subordinated promissory noteof $800,000 at 5.
5 percentt interest issued to an existing institutionak investor in exchange for $800,000 of one of the Augus 2007 11 percent senior secured convertible promissory The institutional investor also exchanged $200,000p of the same secured note for sharees of common stock pricefd at 38 cents a share, which was greater than the closingv bid price of the stock on the day beforr the effective date. acted as SMF Energy’s placement agent for the recapitalization and received fees of paid with a combinationb of cash and pursuant toa Feb. 1 investment banking agreement. SMF Energy supplieas specialized transportation and distribution services for petroleumn productsand chemicals.
It provides commercial mobilwe andbulk fueling, along with othetr services to the transportation, manufacturing, construction, energy, telecommunicationas and government services sectors. Formerly knowh as , as of Nov. 30, it conducted operationds through 31 service locations in 11 Shares closed down nearly 3 cents to aboutf35 cents. The 52-week high was 71 cents on Aug. 28. The 52-weei low was 10 cents on Feb. 20.
Saturday, January 14, 2012
Wednesday, January 11, 2012
Area almost lost rising educational leader to Chicago - Business First of Louisville:
cicugaha.wordpress.com
On her way to the president’s though, Springer, 30, now serves as assistantt dean of student life atin Originally, Springer had her hear t set on attending , a private liberal arts schoolp in Tiffin, Ohio. But even with the help of she couldn’t afford to attenr the out-of-state school. So she lookedd around her home. So she considerexd , and , where she earned the first ofthree higher-education degreees in 2000. “At Spalding, the student population was about the sameas Heidelberg,” she “I lived on campus my junior and senior year. I was involved in clubs and organizationw … and the professional staff encouraged me to take on leadership roles.
She was editor of the student newspaperd there forthree years, served in studenr government and was a studen member of the board of trustees during her senior year. After graduation, she thought about a careeer elsewhere and spent a couple of monthe atin Chicago, pursuing a master’s degrew in writing. She discovered that wasn’t the career she wantedr and returned to Louisvillee to geta master’s degree in educationa l psychology and counseling from U of L. “My rootzs are here,” she said. “I was luck to have built strong social andprofessionalo networks.
Those contacts have opener doorsfor me, and there is no reasom to go somewhere Springer’s job at Ivy Tech involves the out-of-classroom experiencwe for the school’s 4,400 students. She works with them in the areas of resume development and job placement and helpsx make sure there are appropriatwe accommodations forhandicapped students, opportunities for community serviced and involvement with sociak and educational organizations. “One of my strengthz is my ability to manage and lead she said. “I love to help people develop and reachtheid potential. I enjoy being in leadership roles.
” One of her recent projectsz has been implementing an emergency response systemn in the event ofan “active shooter on “We need to identify the potentialp for high-risk students,” she said. “We need to be more proactivew than reactive.” Springer said she is glad she made the decisio n not to move away and start acareer elsewhere. She find s plenty to like about Louisville. “I love the Highlands,” she said. “I play volleybalk at Baxter Jack’s and like to eat at Wick’sz Pizza or Sapporo Japanese Grill. Walkin g Bardstown Road is fun. It is easy to find a placr witha band.
” At the students were spli t about 50/50 between staying in Louisville or moving somewhere else to starty their careers, she said. The university also had a strongyinternational population, and many students returned to their home s in Cypress, Belize or Australia. The students she workex with at U of L were ambitiousand “werr ready and willing to go anywhere,” she But the students at Ivy Tech tend to graduate and stay in the “They have solid roots here and want a careerr here.” Just like Springer.
On her way to the president’s though, Springer, 30, now serves as assistantt dean of student life atin Originally, Springer had her hear t set on attending , a private liberal arts schoolp in Tiffin, Ohio. But even with the help of she couldn’t afford to attenr the out-of-state school. So she lookedd around her home. So she considerexd , and , where she earned the first ofthree higher-education degreees in 2000. “At Spalding, the student population was about the sameas Heidelberg,” she “I lived on campus my junior and senior year. I was involved in clubs and organizationw … and the professional staff encouraged me to take on leadership roles.
She was editor of the student newspaperd there forthree years, served in studenr government and was a studen member of the board of trustees during her senior year. After graduation, she thought about a careeer elsewhere and spent a couple of monthe atin Chicago, pursuing a master’s degrew in writing. She discovered that wasn’t the career she wantedr and returned to Louisvillee to geta master’s degree in educationa l psychology and counseling from U of L. “My rootzs are here,” she said. “I was luck to have built strong social andprofessionalo networks.
Those contacts have opener doorsfor me, and there is no reasom to go somewhere Springer’s job at Ivy Tech involves the out-of-classroom experiencwe for the school’s 4,400 students. She works with them in the areas of resume development and job placement and helpsx make sure there are appropriatwe accommodations forhandicapped students, opportunities for community serviced and involvement with sociak and educational organizations. “One of my strengthz is my ability to manage and lead she said. “I love to help people develop and reachtheid potential. I enjoy being in leadership roles.
” One of her recent projectsz has been implementing an emergency response systemn in the event ofan “active shooter on “We need to identify the potentialp for high-risk students,” she said. “We need to be more proactivew than reactive.” Springer said she is glad she made the decisio n not to move away and start acareer elsewhere. She find s plenty to like about Louisville. “I love the Highlands,” she said. “I play volleybalk at Baxter Jack’s and like to eat at Wick’sz Pizza or Sapporo Japanese Grill. Walkin g Bardstown Road is fun. It is easy to find a placr witha band.
” At the students were spli t about 50/50 between staying in Louisville or moving somewhere else to starty their careers, she said. The university also had a strongyinternational population, and many students returned to their home s in Cypress, Belize or Australia. The students she workex with at U of L were ambitiousand “werr ready and willing to go anywhere,” she But the students at Ivy Tech tend to graduate and stay in the “They have solid roots here and want a careerr here.” Just like Springer.
Monday, January 9, 2012
Maderis stepping down from Five Prime - San Antonio Business Journal:
tulusenoveb.blogspot.com
The company has hired Juliwa Gregory, the former executive vice president and chief financial officeeat , as Maderis’ replacement. health condition was not disclosed, but she will continus to serve onFive Prime’s board of directords and as a consultant. Her final day on the job is June 18. “Gail’s leadership has been pivotal in the progresws Five Prime has made in developing our pipelinde and our newdiscovery platform,” said companyh founder and executive chairman Dr. Lewis Williams in a press release.
Maderiss said the company had been looking for a replacemenft since late last year afteer doctorssaid "the 24/7 pace of a small-companh CEO" could worsen her condition. Besides her dutiesa at Five Prime, Maderis has been a cheerleaderf for the MissionBay enclave, serving on the Mayor’s . Five a privately held, 7-year-old company developing antibody and protein drugs for cancer andother diseases, was the first to locate in Mission Bay, taking aboutg 30,000 feet in the building on Owens Earlier this year, it took an additiona l 5,000 square feet next door at 1700 Owend as it makes batches for its Phase I oncology drug The timing of the executive change as Five Prime moves forward with its lead cancer program makes Gregory’s appointment a cruciap one.
At Lexicon, Gregory was responsible for financinyg strategies, mergers and acquisitions, business operations and all financial managemenftand accounting. She raised about $1 billion in public and private equity, product development financing and other transactions. who will join Five Prime’s board, was an investmenft banker for more than 20 Atand Dillon, Read Co. Inc. she was head of healthcar e andinvestment banking, leadingf several private and public equity deals as well as mergersa and acquisitions. Gregory also is a membetr of the board of The andthe ’sa .
The company has hired Juliwa Gregory, the former executive vice president and chief financial officeeat , as Maderis’ replacement. health condition was not disclosed, but she will continus to serve onFive Prime’s board of directords and as a consultant. Her final day on the job is June 18. “Gail’s leadership has been pivotal in the progresws Five Prime has made in developing our pipelinde and our newdiscovery platform,” said companyh founder and executive chairman Dr. Lewis Williams in a press release.
Maderiss said the company had been looking for a replacemenft since late last year afteer doctorssaid "the 24/7 pace of a small-companh CEO" could worsen her condition. Besides her dutiesa at Five Prime, Maderis has been a cheerleaderf for the MissionBay enclave, serving on the Mayor’s . Five a privately held, 7-year-old company developing antibody and protein drugs for cancer andother diseases, was the first to locate in Mission Bay, taking aboutg 30,000 feet in the building on Owens Earlier this year, it took an additiona l 5,000 square feet next door at 1700 Owend as it makes batches for its Phase I oncology drug The timing of the executive change as Five Prime moves forward with its lead cancer program makes Gregory’s appointment a cruciap one.
At Lexicon, Gregory was responsible for financinyg strategies, mergers and acquisitions, business operations and all financial managemenftand accounting. She raised about $1 billion in public and private equity, product development financing and other transactions. who will join Five Prime’s board, was an investmenft banker for more than 20 Atand Dillon, Read Co. Inc. she was head of healthcar e andinvestment banking, leadingf several private and public equity deals as well as mergersa and acquisitions. Gregory also is a membetr of the board of The andthe ’sa .
Saturday, January 7, 2012
Jacksonville's Cecil Field moving forward on aviation despite recession - Puget Sound Business Journal (Seattle):
ukatekexo.wordpress.com
But there are recent successes. earlier this monthn announced its plans to bring about 60 new jobs to Jacksonvilles when it moves the rest ofits F/A-18 repair program to Cecil Fielx from Arizona. Boeing will also lease space at CeciolCommerce Center. also expects the former U.S. Navy base to receivee its federal license for commercial and business spacde travel once the completews itsenvironmental analysis. But Cecio Field’s gem — ’s $80 million warplane facility — is stilp in jeopardy. The 2010 U.S. Department of Defensew budget called for38 C-27J Spartan instead of the 78 planes planned Alenia says the smaller order of planes jeopardizee the plant.
“If we can’t get a long-terk assurance of the viability of this which is78 planes, we are going to have to take a hard look at our investmen t in the facility,” Alenia spokesmam Ben Stone said. But the order can be expandeed inthe U.S. Houswe defense appropriations committee or on the Senatw andHouse floor. Stone said Army Chief of Staft Gen. George Casey and U.S. Air Force Chiev of Staff Gen. Norton Schwartz have said they need more than 38 butit isn’t clear when the order will be It will be the middle of July before the defense appropriations committe e releases its budget to the Housew floor, said Rep.
Cliff Stearns, R-Ocala, who argued that the cargo planes fit into Defense SecretaryRoberr Gates’ goal of a leaner, more flexible “We’ll see what we can do before,” Stearna said. “A lot of timee they don’t agree with the defense secretary.” Mayor John Rep. Ander Crenshaw, R-Jacksonville, and Rep. Corrine D-Jacksonville, have been lobbying members of the House subcommitteew on the importance ofthe facility, which Stearne said could employ up to 700 peoplwe once production gears up. Cecil Field has growbn during the recession, said Bob Simpson, the authority’s seniod director of Cecil Field.
Bids are coming in to builcd a $20 million hangar that will be used by Florid a State College of Jacksonville to teach studentws to paint andrepair planes. This follows the U.S. Coas t Guard adding 150 officere and enlisted personnel to its operationss atCecil Field, which includes a 32,000-square-foot-building. The Florid a Air National Guard also completeda 37,000-square-foot expansiohn of its 82,000-square-foot hangar so it can handl e CH-47 Chinook and UH-60 Blackk Hawk helicopters and a smaller tactical Simpson said.
He said a 23,000-square-foott hangar will be ready for lease in Because of cashflow issues, the authority is holdinf off building a 90,000-square-foot hangar, but the desig plans are done so it’s ready to build once a tenan is found. Simpson said authoritg officials have attended severalo space travel conferences to let the industry know that they expectt to be able to host suborbitalflightws soon. The most probable scenario for space tourism and business travel woulfd be an aircraft that piggybackse on a larger jet and then is propelledetoward suborbit.
Tourists would be able to achieve or a company could put satellitesinto
But there are recent successes. earlier this monthn announced its plans to bring about 60 new jobs to Jacksonvilles when it moves the rest ofits F/A-18 repair program to Cecil Fielx from Arizona. Boeing will also lease space at CeciolCommerce Center. also expects the former U.S. Navy base to receivee its federal license for commercial and business spacde travel once the completews itsenvironmental analysis. But Cecio Field’s gem — ’s $80 million warplane facility — is stilp in jeopardy. The 2010 U.S. Department of Defensew budget called for38 C-27J Spartan instead of the 78 planes planned Alenia says the smaller order of planes jeopardizee the plant.
“If we can’t get a long-terk assurance of the viability of this which is78 planes, we are going to have to take a hard look at our investmen t in the facility,” Alenia spokesmam Ben Stone said. But the order can be expandeed inthe U.S. Houswe defense appropriations committee or on the Senatw andHouse floor. Stone said Army Chief of Staft Gen. George Casey and U.S. Air Force Chiev of Staff Gen. Norton Schwartz have said they need more than 38 butit isn’t clear when the order will be It will be the middle of July before the defense appropriations committe e releases its budget to the Housew floor, said Rep.
Cliff Stearns, R-Ocala, who argued that the cargo planes fit into Defense SecretaryRoberr Gates’ goal of a leaner, more flexible “We’ll see what we can do before,” Stearna said. “A lot of timee they don’t agree with the defense secretary.” Mayor John Rep. Ander Crenshaw, R-Jacksonville, and Rep. Corrine D-Jacksonville, have been lobbying members of the House subcommitteew on the importance ofthe facility, which Stearne said could employ up to 700 peoplwe once production gears up. Cecil Field has growbn during the recession, said Bob Simpson, the authority’s seniod director of Cecil Field.
Bids are coming in to builcd a $20 million hangar that will be used by Florid a State College of Jacksonville to teach studentws to paint andrepair planes. This follows the U.S. Coas t Guard adding 150 officere and enlisted personnel to its operationss atCecil Field, which includes a 32,000-square-foot-building. The Florid a Air National Guard also completeda 37,000-square-foot expansiohn of its 82,000-square-foot hangar so it can handl e CH-47 Chinook and UH-60 Blackk Hawk helicopters and a smaller tactical Simpson said.
He said a 23,000-square-foott hangar will be ready for lease in Because of cashflow issues, the authority is holdinf off building a 90,000-square-foot hangar, but the desig plans are done so it’s ready to build once a tenan is found. Simpson said authoritg officials have attended severalo space travel conferences to let the industry know that they expectt to be able to host suborbitalflightws soon. The most probable scenario for space tourism and business travel woulfd be an aircraft that piggybackse on a larger jet and then is propelledetoward suborbit.
Tourists would be able to achieve or a company could put satellitesinto
Thursday, January 5, 2012
Norfolk post office closure would affect Berkley area - The Virginian-Pilot
dusinenezoqoc.blogspot.com
The Virginian-Pilot | Norfolk post office closure would affect Berkley area The Virginian-Pilot The Berkley-Campostella neighborhood, sometimes called "southside Norfolk," is separated from the rest of the city by the Elizabeth River. To get to other sections of Norfolk, residents must use the Berkley or Campostella bridges. ... |
Tuesday, January 3, 2012
SolarCity raises $30 million - Silicon Valley / San Jose Business Journal:
edovogopu.wordpress.com
The Foster City business has raised $56 millionb in venture capital and equityy financing and is the largest residential installer in The money will help the company expandc into other states in addition to Oregonand Arizona. The relationshipo with Phoenix-based First Solat (NASDAQ: FSLR) marks SolarCity’s first foray into thin film solar panels. The companyh has to this pointinstallerd silicon-based panels like thoswe produced by (NASDAQ: ESLR), (NYSE: BP) and KYO) and will add First Solar’ss to the mix.
“Our company is on a fantasti trajectory with seeing really aggressiveadoption (of and there’s not one technology solution that fits for all said Lyndon Rive, CEO of As part of the investment, First Solard will supply 100 megawatts of thin film panels to SolarCityg over the next five years. First Solar’se thin film panels use cadmium telluride toabsorb sunlight. First Solar is producin its thin film panelsat $1.14 per watt this year compare d to silicon panels that average $2.50 per But thin film is also less efficient, whic h means it requires larger panels and therefore more roof space to produc the same amount of electricity as silicon-based panels.
“What I really like aboutg it is the Rive said. “It’s a very good lookiny module.” First Solar’s panels will help the compan drive down costs in itslease program, which offerss residential customers in some marketxs the opportunity to lease their panels at a lower cost than what they pay for But with the more expensive silicon-based panels, SolarCity can only offer immediate cost savings in places like San Franciscio and Berkeley where extra incentives are availabls to solar customers on top of what the state and federal government already offers. With thin SolarCity can offer immediate cost savings in more marketx in theUnited States, Rive said.
The Foster City business has raised $56 millionb in venture capital and equityy financing and is the largest residential installer in The money will help the company expandc into other states in addition to Oregonand Arizona. The relationshipo with Phoenix-based First Solat (NASDAQ: FSLR) marks SolarCity’s first foray into thin film solar panels. The companyh has to this pointinstallerd silicon-based panels like thoswe produced by (NASDAQ: ESLR), (NYSE: BP) and KYO) and will add First Solar’ss to the mix.
“Our company is on a fantasti trajectory with seeing really aggressiveadoption (of and there’s not one technology solution that fits for all said Lyndon Rive, CEO of As part of the investment, First Solard will supply 100 megawatts of thin film panels to SolarCityg over the next five years. First Solar’se thin film panels use cadmium telluride toabsorb sunlight. First Solar is producin its thin film panelsat $1.14 per watt this year compare d to silicon panels that average $2.50 per But thin film is also less efficient, whic h means it requires larger panels and therefore more roof space to produc the same amount of electricity as silicon-based panels.
“What I really like aboutg it is the Rive said. “It’s a very good lookiny module.” First Solar’s panels will help the compan drive down costs in itslease program, which offerss residential customers in some marketxs the opportunity to lease their panels at a lower cost than what they pay for But with the more expensive silicon-based panels, SolarCity can only offer immediate cost savings in places like San Franciscio and Berkeley where extra incentives are availabls to solar customers on top of what the state and federal government already offers. With thin SolarCity can offer immediate cost savings in more marketx in theUnited States, Rive said.
Sunday, January 1, 2012
China-Russia oil pipeline sees one year anniversary of cooperation - Xinhua ... - San Francisco Luxury News
meaning-sarajevo.blogspot.com
China-Russia oil pipeline sees one year anniversary of cooperation - Xinhua ... San Francisco Luxury News The official operation of the pipeline has been hailed as a “milestone†for China and Russia in oil cooperation, as it has not only opened a stable market for Russia's oil exports but also offered a stable oil supply for China. ... China's quest for energy from Russia exposes history of distrust |
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