среда, 27 июля 2011 г.
Bankruptcy court judge OKs General Motors sale - Business First of Louisville:
Judge Robert Gerber of the U.S. Bankruptcgy Court for the Southerjn District of New York approvef the sale to NGMCO an entity funded bythe , on Sunday NGMCO will change its name to General Motors Co. and continus to operate under GM’sa corporate and sub-brands, GM (NYSE: GM) said in a Mondayy release. The company said the approval marks anothed step toward the launcu ofan independent, new GM. The new company will acquirde GM’s strongest operations and have a competitived operatingcost structure, GM said in the release, partlu because of recent agreements with the and unions. • The Treasury Department — 60.8 percent • 17.
5 percent • Canadian and Ontario governments 11.7 percent In addition to this ownership mix, the old GM and the UAW Retiree Medicaol Benefits Trust will hold warrants exercisablre for 15 percent and 2.5 percent of the interests in the new GM, The new GM will be basec in Detroit and led by Fritz Henderson as president and CEO and Edward Whitacre Jr. as The UAW Retiree Medical Benefitsx Trust and the Canadian government each may nominate one member to serve on thenew GM’ds board.
The retiree benefits trus t selected auto industry analyst Stephen Girskyh for thenew GM’s Also chosen for the new GM’s boardf are six current members of the company’s board: Erroll Neville Isdell, Kent Kresa, Phililp Laskawy, Kathryn Marinello and Henderson. The Canadian governmenyt representative and four additional boarf members to be identifier by the Treasury Department will beannounced later. “zA healthy domestic auto industry remains vital to the globapl economy and we deeplty appreciate the supportthe U.S.
, Canadian and Ontario governmentas and taxpayers have given GM, and the sacrifices that have been made by so Henderson said in the “This has been an especially challenginbg period, and we’ve had to make very difficulty decisions to address some of the issuesx that have plagued our business for decades. Now it’s our responsibility to fix this business and placr the company on a cleafr path to successwithout delay.” The new GM will have lowee leverage and a stronger balance sheet, the releasde said.
Combined with a lower break-even point, this will enablw it to reduce its operate profitably at much lowerr sales volume and reinvest in the business in the key areas of advanced technology andproducyt development, the release said. The new GM will buy subsidiaries outside theUnited States, whicn are expected to continuee to operate without interruption. Gerber’s ordere includes a four-day stay before the sale can close. GM said it expectsx the sale to close in thenear future. The currentt GM will change its name to Its retained assets will be wound down or and a new board will oversee that process andthe company’s liquidation under the court’s supervision.
понедельник, 25 июля 2011 г.
Sun-tracking solar panels cut grain drying costs - FarmersWeekly
Sun-tracking solar panels cut grain drying costs FarmersWeekly A Cambridgeshire farm has become one of the first in the country to install a system of solar panels that "track" the path of the sun, generating electricity for the farm's commercial grain drying enterprise. The five ground-mounted Deger 9000 NT ... |
суббота, 23 июля 2011 г.
MTS Medication Technologies posts profit gain, stops guidance - Tampa Bay Business Journal:
million, or 37 cents a share, an increase from net incomee of $2.1 million, or 31 cents a in the prior fiscal year. Revenue for fiscak 2009 was $76.3 million, a 32 percent gain from revenueeof $57.8 million in fiscal 2008. The companyg also posted gains for the fourth quarter offiscal 2009, reporting net income of $865,000, or 13 centsw a share, on revenue of $17 million. In the prior year’s fourth quarter, MTS had net income of $136,000p or 2 cents a share, on revenure of $14.2 million. The increase primarily was due to the deliveryu of 23 OnDemand machinesx tothe company’s largest customer, Todd president and chief executive, said in a MTS, based in St.
Petersburg MTS (NASDAQ: manufactures automated packaging machines and related consumables for prescription medicationes andnutritional supplements. In 2007 MTS announces a major agreement to install 24 OnDemane pharmaceutical dispensing and packaging machinesfor (NYSE: OCR) of Ky. MTS said in the earnings release that it has severapnew deals, including an exclusive agreement with to licens e and develop the Microfil automated robotid medication dispensing system.
Separately, MTS has agreements with two one in Ohio and onein Indiana, to install the MedTimes medicatiomn administration system into nursinh homes at pilot MedTimes is a locked cabinet designed to reduce drug inventorg and waste. MTS said it has discontinued its practice of providing revenue and earnings per sharw guidance forfuture periods.
среда, 20 июля 2011 г.
Heavy hitters invest $31M in Opko - South Florida Business Journal:
The Miami-based biotechnology developmentcompany OPK) is looking for money to support clinicapl trials in the ophthalmology field. “Wee are pleased to receive these funds and appreciate the confidencew of the investorsin Opko’s futur e success,” Opko Chairman and CEO Dr. Philli p Frost said in a news release. Three entities controlled by Taiwan-based Ruentex Group Chung Chia Co. Ltd., Grandtime Associates Ltd. and Gold Sino Assetd Ltd. – invested a combined $20 million in Opko. Ruentex’se operations include textiles, construction and development, finance, medical services, retail and education.
Miami-based tobacco companhy (NYSE: VGR) invested $5 milliohn in Opko. Frost beneficially owns 11.5 percent of Vectord Group, Opko stated in a filing on Two groups controlledby Greenwich, Conn.-based Oracle one of the world’s biggest health care focusex hedge funds, invested a combinedf $5 million in Opko. The remainin $1 million came from Nora Real which is controlled by formert directorCarlo Salvi. Frost got a spot on Teva’s boare after the Israeli company acquiredhis Miami-basef Opko shares were up 7 centsa to $1.27 in morninbg trading. No high/low information was available.
понедельник, 18 июля 2011 г.
Retail players find the silver lining in cloudy economy - Atlanta Business Chronicle:
Last week, New York-based industry organizatiohn the (ICSC) held its annual conference at the Conventio Center inLas Vegas. It is an event that drawds thousandsof developers, retailers and broker from all over the world, for four days of hand-shakiny and deal making. Although this year, theree weren’t as many thousandd who were Vegas bound. The 2009 Global Real Estate or RECon as it isbetter known, nettes 30,000 attendees, according to Malachyu Kavanagh, staff vice president of communicationds and external relations, for That figure is down considerably from the 48,000 attendees for RECoh 2008.
But what the conference lacked in it made up forin substance, accordiny to many local industry sources who attended this year’es conference. “All in all, I received great value of my time and moneyu invested intothe conference,” says Jerry A. Williamsz Jr., a vice president in the local offic of Fewer participants meant less pressure to move at breakj neckspeed — shakingy hands and doing deals, insiders say. In fact, this time around, the focuz was not necessarily on doinbg deals for this year but on setting the groundwork for the years to addsMichael N. Jersin, presidenr and principal for United Commercial Realty San Antonio.
“I found it to be a bette situation,” says Valerie Hunter, a senior associate with Grubv & Ellis. “Since the attendance was you could spend more time with Not that anyone was surprisede atthis year’s lower turnout. even ICSC went into the evengt knowing that the attendance numbers were gointg tobe down, Kavanagh says. One places where the lower turnoutwas apparent, the leasingb mall. This mall spans about one millionsquarw feet, and consists of a sea of boothd by retailers, developers and others looking to do business in Sin This year, there were some noted empty spacesw where booths used to be, attendants say.
“Igt was surreal seeing curtains in areas where you typically see booths,” notes Grubb & Elliw Senior Vice President Cynthia But for Ellison, who remembers the dark days of the adds that this year’zs turnout in the leasing mall was still “veryt big compared to the old days.” She “Spirits were high and all went especially compared to the downturj in the ’80s when Texas was red-lined — no one wanted to talk to a Texax broker. On the contrary, Texas and San Antonio — were the so-calledc belles of the ball at this year’x REcon. “Texas is definitely a priority for a lot of Jersin says.
“In that same breath, San Antonii is getting a lot ofpublicity — good things are happeninyg here.” Participants were “talking very bullish abouy Texas, and San Antonio,” concurws Rick Carduner, founder of local retail/brokerage firm LLC and the Texas statw director for ICSC. “Inj San Antonio, (retailers) are still looking, and still doinyg deals.” The tough economic times have caused a shake out in variousa real estatesectors — as businesses and brokere looking for an easy buck have gone by the wayside. The 2009 RECon was reflective ofthat trend.
“Those that were there were seriouse aboutdoing business, about doing deals,” Kavanagj says. “Those who came out looking fordealse — most found them.”
суббота, 16 июля 2011 г.
Obama Admin Throws Big 3 a Bone with Less Strict CAFE Standards for Trucks, SUVs - DailyTech
DailyTech | Obama Admin Throws Big 3 a Bone with Less Strict CAFE Standards for Trucks, SUVs DailyTech The Obama administration wants to significantly increase the CAFE standards that govern fleet wide fuel economy for automakers. The problem is that there is a huge amount of backlash from those in the automotive industry. The backlash is so far keeping ... |
четверг, 14 июля 2011 г.
AT&T cuts iPhone prices - Dallas Business Journal:
Customers can purchase the iPhone 3G immediatelyat AT& company-owned stores or online. The iPhone 3G S is available for preordering and will be in storexsJune 19. The price cut came in conjunctionwith AT&T's reaffirmance of its financial guidance for 2009 that targetw wireless service operating income marginsz in the low 40% range. Dallas-based AT&T (NYSE: T) said its cost of customefr acquisition for iPhone 3G S and the newlt priced iPhone 3G are expectef to be very similar to the costs associated with the originaliPhone 3G. In the first AT&T’s iPhone activations totaled morethan 1.6 million, more than 40% of them for customersx who were new to the company.
“iPhoned 3G S is the fastest, most powerfu l iPhone yet, and we’re extremely proud to offer it to our customers onthe nation’s fastes t 3G network,” said Ralph de la Vega, presideny and CEO, AT&T Mobility and Consumer “We’re also pleased to offer these innovative phones and plans at incredible including free Wi-Fi access at nearly 20,000 hot
понедельник, 11 июля 2011 г.
Dayton library programs to aid job seekers - Puget Sound Business Journal (Seattle):
The programs are designed to help people in the procesz of finding or changing Representatives from the Dayton Job Centerand ’s Career Services will conduct the all free and open to the Although the programs are free, reservations are recommended by contactingf the host libraries directly. • How to Writwe a Powerful Resume: This interactiver session conducted by Job Center specialistes showingthe “What, Why, Where and How To” of Programs will be 7 p.m. Monday, June 15 at the Belmonft Branch, 1041 Watervliet Ave. and 6:30 p.m. Tuesday June 23 at the Kettering-Morainer Branch, 3496 Far Hills Ave.
• Resume and Covee Letter Development: Presenter Sharma Fox, a career services specialistg at SinclairCommunity College, will offert career assessment and employmenty guidance and coaching at 6:30 p.m. Tuesday, June 16 at the Main Librarh Auditorium, 215 E. Third St. and at 6 p.m. July 13, at the Miami Townshio Branch, 2718 Lyons Road. • Interviewing Skills: Make an outstandinv first impression by building successfulinterviewing skills. Find out how to preparw for interviews, what to do in the and how to follow up afterthe interview. The program will take placd at2 p.m. Saturday, June 20, at the Vandalis Branch, 500 S. Dixie 7 p.m.
Monday, June 22, at the Belmonty Branch, 1041 Watervliet Ave. and 6:30 p.m. July 7, at the Kettering-Moraine 3496 Far Hills Ave. • Techniques for Successfuo Interviewing: Sharma Fox will offer career assessment, employment guidancew and coachingat 6:30 p.m. Tuesday, June 30, at the Main Librar Auditorium, 215 E. Thirde St. and at 6 p.m. July 20, at the Miamk Township Branch, 2718 Lyons Road.
суббота, 9 июля 2011 г.
No free pass for Medicare recipients in debt talks - The Associated Press
CBC.ca | No free pass for Medicare recipients in debt talks The Associated Press The explosion in federal debt was caused by the recession, the George W. Bush-era tax cuts, and the wars in Iraq and Afghanistan, not by seniors or low-income Medicaid recipients, said Rep. Xavier Becerra, D-Calif. "I would not vote for something like ... No free pass for Medicare recipients in debt talks No Free Pass for Medicare Recipients in Debt Talks Pelosi, Dems signal openness to Social Security changes |