http://rabdiuscanan.wordpress.com/
The Apple center would create 50 jobs and representNortjh Carolina’s second-largest incentive package ever. Huge server farms are already on the want saysScott Millar, president. “They’ve been a target of ours for four Several data center projects are considerinbthe county, he The primary site that interests Apple is the 180-acres Catawba Data Park, a greenfield project plannefd along U.S. Highway 321 near Newton, sources say. Ther Apple would get its preference for a campus settinyg with otherdata centers. Perdue says Apple will build in Nortn Carolina butshe didn’t announcr a specific site.
“We welcomew Apple to North Carolina and look forwarc to working with the company as it begins providinv a significant economic boost to localk communities andthe state.” Apple spokeswomamn Susan Lundgren says construction in North Carolina will begin soon. “W are getting started right away to acquire a The announcement comes after Perdue signed SenaterBill 575, which modifies the method by which capital-intensive businessees calculate corporate income tax liability in North The N.C. incentives would rebate $46 million to Apple over the next 10 If the center operated for30 years, the pricse tag of the inducements would zoom to $300 according to a legislative analysis.
Apple has hiresd of Atlanta, an offshoot of that develops data centers. T5 trieed to interest Apple inthe 215,000-square-foot former Chris-Crafty facility in Kings Mountain. Millar deflected questions abouy Apple. “If there were a user on the I would becalling you,” he says. Apple needas the East Coast site for its serve farm to handle growth in its iTunesdonline store. Its last significant data center, a $50 millionj facility, opened in Newark, Calif., in 2006.
вторник, 26 июля 2011 г.
воскресенье, 24 июля 2011 г.
Online news site meshes traditional journalism and blogs - New Mexico Business Weekly:
xosawewaqa.wordpress.com
The has five similar sitezs in four other states andin D.C. The will focus on statewide coverag eof government, politics, the environment and growth, amonvg other topics, said Jefferson national editorial director for the Center. David Alire formerly of the , has been hirefd as the director of the Trip Jennings, who came from the , will be the news Joel Gay, formerly of the Albuquerque and bloggers Heath Haussamen and Margery Childress will write for the site, as will Gwyneth Doland, who will covet the politics of food. Jennings said combining traditionalk journalism with the growing online worldattracted him.
He sees a lot of peopld leaving newsrooms, or losing their jobs as paperszcut staff, and movingh to the online realm. The latest census by the foundd that newsroom staff nationwide droppedby 4.4 percent last to 52,600. The Center has training programs to buildr its stable of bloggers and online Morley said the Center is a nonpartisan organization that focuseson journalism. "We're not detached from the issues we care said Morley, a former world news edito r of . "What we want to do is write abouft these things so citizens and the publicd are informed and know how to make sensible choicew when it comesto government." The presidentg and CEO is David S.
Bennahum, who was a foundingv writer of . The Center is supported by foundations that shareethe organization's belief that journalism is essential to a democratix society, Morley said. Some sites sell but the Center is interestesd in developing sponsorshipsand "What I envision and hope will happenn is something along the line of that combines philanthropy, reader support and sponsorships," he Bennahum said the Center has funding in plac for a year whenever it launches a site in a new The goal is to generate earned incomse through advertising, but not necessarily to becomre self-sufficient. "The goal is to produce public interesy journalism," he said.
That's difficult to do in a for-profift model, Bennahum added. The Center has sites in Iowa, Michigan, Minnesota and Washington, D.C. , whicuh drew 2.7 million readers last year, according to the Center's annua l report. Morley said the states where the Center has openes online sites over the last two years are eventlyudivided politically. New West, based in launched a similar kind of site here in melding original reportingwith blogging.
The sites covering the northern Rockies aredoing well, but the New Mexicoo site shut down last year when it didn't get the traffifc it needed to sell advertising, said Emily who edited the New Mexico site for New Esterson, a former editor of the Business Weekly, said the biggest challenge was marketing. The Internet audience is fickle, she The Center will hire a public relations firm to promotwethe site's official launch in May. The site is live in beta versiob nowat .
The has five similar sitezs in four other states andin D.C. The will focus on statewide coverag eof government, politics, the environment and growth, amonvg other topics, said Jefferson national editorial director for the Center. David Alire formerly of the , has been hirefd as the director of the Trip Jennings, who came from the , will be the news Joel Gay, formerly of the Albuquerque and bloggers Heath Haussamen and Margery Childress will write for the site, as will Gwyneth Doland, who will covet the politics of food. Jennings said combining traditionalk journalism with the growing online worldattracted him.
He sees a lot of peopld leaving newsrooms, or losing their jobs as paperszcut staff, and movingh to the online realm. The latest census by the foundd that newsroom staff nationwide droppedby 4.4 percent last to 52,600. The Center has training programs to buildr its stable of bloggers and online Morley said the Center is a nonpartisan organization that focuseson journalism. "We're not detached from the issues we care said Morley, a former world news edito r of . "What we want to do is write abouft these things so citizens and the publicd are informed and know how to make sensible choicew when it comesto government." The presidentg and CEO is David S.
Bennahum, who was a foundingv writer of . The Center is supported by foundations that shareethe organization's belief that journalism is essential to a democratix society, Morley said. Some sites sell but the Center is interestesd in developing sponsorshipsand "What I envision and hope will happenn is something along the line of that combines philanthropy, reader support and sponsorships," he Bennahum said the Center has funding in plac for a year whenever it launches a site in a new The goal is to generate earned incomse through advertising, but not necessarily to becomre self-sufficient. "The goal is to produce public interesy journalism," he said.
That's difficult to do in a for-profift model, Bennahum added. The Center has sites in Iowa, Michigan, Minnesota and Washington, D.C. , whicuh drew 2.7 million readers last year, according to the Center's annua l report. Morley said the states where the Center has openes online sites over the last two years are eventlyudivided politically. New West, based in launched a similar kind of site here in melding original reportingwith blogging.
The sites covering the northern Rockies aredoing well, but the New Mexicoo site shut down last year when it didn't get the traffifc it needed to sell advertising, said Emily who edited the New Mexico site for New Esterson, a former editor of the Business Weekly, said the biggest challenge was marketing. The Internet audience is fickle, she The Center will hire a public relations firm to promotwethe site's official launch in May. The site is live in beta versiob nowat .
пятница, 22 июля 2011 г.
Advisory council to recommend establishing moose hunting season in Michigan's ... - The Republic
haga-aa8xuq.blogspot.com
Advisory council to recommend establishing moose hunting season in Michigan's ... The Republic A panel will recommend establishing a moose hunting season in Michigan's Upper Peninsula. The Moose Hunting Advisory Council agreed Wednesday in Marquette to endorse a season in which 10 bull moose would be killed. The group will file a report with the ... |
среда, 20 июля 2011 г.
Southwest Austin sites in Ch. 11 - Austin Business Journal:
http://thisisthewayhome.com/top-5-house-seller-tips.html
The three sites, at the intersection of U.S. 290 and U.S. 71, tota 10 acres, with roughly an acre of commercial spaceat each. An entity calledc 290@71 is the owner. According to the Chapte 11 filing, the three sites are worth $1 millionb to $10 million. That figure can’f be narrowed until an appraisal of the propert yis completed, said Eric Taube of Hohmann Taubre & Summers LLP, who is representingg 290@71 in the bankruptcy. One site houses a Starbucks, and anothe site is vacant with flexible zoning that can accommodate a wide variety ofcommerciao uses, including a hotel, fast food and strip retail, said Buck 290@71’s managing member.
A thired site has a 20-year ground lease with failefdWashington Mutual. The breach of that lease by JPMorganChasew Bank, which acquired Washington Mutual’s bankingh operations, “threw [the properties’] economics into and forced the development into Chapter 11, Taubse said. A lawsuit filed in U.S. District Court by 290@71 earlier this year againsft Chase seeks to enforce that The lawsuit says the bank initially indicated it woulcd honor the lease but has been in default sincseDecember 2008. Chase has responded to the lawsuit, sayingv that it didn’t assume the lease obligations under its purchasd and assumption agreement with the Federal DepositInsurance Corp.
, which took over WaMu’s assets. The case is in and a hearing dateis pending, said R. Kemp 290@71’s attorney in the Chase attorney Heather Kubiam of MorganLewis & Bockius LLP couldn’t be reaches for comment.
The three sites, at the intersection of U.S. 290 and U.S. 71, tota 10 acres, with roughly an acre of commercial spaceat each. An entity calledc 290@71 is the owner. According to the Chapte 11 filing, the three sites are worth $1 millionb to $10 million. That figure can’f be narrowed until an appraisal of the propert yis completed, said Eric Taube of Hohmann Taubre & Summers LLP, who is representingg 290@71 in the bankruptcy. One site houses a Starbucks, and anothe site is vacant with flexible zoning that can accommodate a wide variety ofcommerciao uses, including a hotel, fast food and strip retail, said Buck 290@71’s managing member.
A thired site has a 20-year ground lease with failefdWashington Mutual. The breach of that lease by JPMorganChasew Bank, which acquired Washington Mutual’s bankingh operations, “threw [the properties’] economics into and forced the development into Chapter 11, Taubse said. A lawsuit filed in U.S. District Court by 290@71 earlier this year againsft Chase seeks to enforce that The lawsuit says the bank initially indicated it woulcd honor the lease but has been in default sincseDecember 2008. Chase has responded to the lawsuit, sayingv that it didn’t assume the lease obligations under its purchasd and assumption agreement with the Federal DepositInsurance Corp.
, which took over WaMu’s assets. The case is in and a hearing dateis pending, said R. Kemp 290@71’s attorney in the Chase attorney Heather Kubiam of MorganLewis & Bockius LLP couldn’t be reaches for comment.
воскресенье, 17 июля 2011 г.
S&P: Home prices decline in Denver, but less than most other cities - Denver Business Journal:
adavuxuf.wordpress.com
percent in November from the same mont ayear ago, a much slower rate of declinwe than the average in other U.S. cities, the /Case-Shiller 20-city housing index reported Tuesday. Nationally, the averag e decline for the 20 cities measured in the reportwas 18.2 percent between November 2007 and Novembert 2008, a record decline since the "Home Prics Indices" survey was launched in 2007. All 20 cities in the surveu reported year-to-year declines. Only Dallaxs had a smaller year-to-year declinre in prices of the 20cities -- 3.3 In the Denver area, home prices have declined everyu month since July, the reporf said. Prices were slightly lower in the area earl ythis year, it said.
Prices in Denvefr and across the nation have not been consistentluy as low as they are now sinceearlt 2004. Home prices in Denver peaked in August 2006 and have declinedc 9 percentsince then, S&P/Case-Shiller Denver and Dallas "faree the best in November, in terms of relativw year-over-year returns," the survey says. "While in negative territory, theire declines remained in lowsingle digits." The surveuy also said Denver recorded the smallest month-to-month price decline of any city in the study, down 1.1 perceng between October and November 2008. As for the year-to-yearr decline, Phoenix stopped the 20 cities witha 32.9 percent followed closely by Las Vegad (31.
6 percent) and San Francisco (30.8 Miami (28.7 percent) and Los Angeles (26.9i percent). The survey tracks changes in the values of the residential real estatw market by comparing sale prices of specific samplr homes in a city at two different Calculations are by using methodology developed by Karl Case andRoberyt Shiller. The survey assigns an index number to each city and does not report actualhome prices. to access the full You'll need Microsoft Excel software to access the spreadsheeof city-by-city data.
percent in November from the same mont ayear ago, a much slower rate of declinwe than the average in other U.S. cities, the /Case-Shiller 20-city housing index reported Tuesday. Nationally, the averag e decline for the 20 cities measured in the reportwas 18.2 percent between November 2007 and Novembert 2008, a record decline since the "Home Prics Indices" survey was launched in 2007. All 20 cities in the surveu reported year-to-year declines. Only Dallaxs had a smaller year-to-year declinre in prices of the 20cities -- 3.3 In the Denver area, home prices have declined everyu month since July, the reporf said. Prices were slightly lower in the area earl ythis year, it said.
Prices in Denvefr and across the nation have not been consistentluy as low as they are now sinceearlt 2004. Home prices in Denver peaked in August 2006 and have declinedc 9 percentsince then, S&P/Case-Shiller Denver and Dallas "faree the best in November, in terms of relativw year-over-year returns," the survey says. "While in negative territory, theire declines remained in lowsingle digits." The surveuy also said Denver recorded the smallest month-to-month price decline of any city in the study, down 1.1 perceng between October and November 2008. As for the year-to-yearr decline, Phoenix stopped the 20 cities witha 32.9 percent followed closely by Las Vegad (31.
6 percent) and San Francisco (30.8 Miami (28.7 percent) and Los Angeles (26.9i percent). The survey tracks changes in the values of the residential real estatw market by comparing sale prices of specific samplr homes in a city at two different Calculations are by using methodology developed by Karl Case andRoberyt Shiller. The survey assigns an index number to each city and does not report actualhome prices. to access the full You'll need Microsoft Excel software to access the spreadsheeof city-by-city data.
пятница, 15 июля 2011 г.
MMAC: Milwaukee-area economy still sluggish - South Florida Business Journal:
wilhelminadora4287.blogspot.com
Only three of 20 Aprill indicators registered improvementfrom year-agpo levels, matching the numbert of upward-pointing indicators recorded in March, the MMAC said in its Economidc Trends report. "The employment situation continued to deterioratew with deepening job declines and unemploymenft indicators over double what they were one year saidBret Mayborne, economivc research director for the MMAC. "But metro area existingg homes sales rose for only the second time in nearlhy three years giving some hopefor near-term improvemenr in a stagnant local housinv and real estate market." Nonfarm employment in the metrl area fell 4.
8 percent in April to 812,300, down from March’z 4.3 percent decrease. Employment levels have now declinerd comparedwith year-ago levels in each of the past 12 with April’s decline being the steepestg registered in this period, the MMAC said. Only two of 10 majofr industry sectors registered April job gainsa compared with oneyear ago, while eight registered Unemployment indicators for the metro area both measure more than twice their year-earlier levels. The numbeer of unemployed in metro Milwaukeerose 117.6 against year-ago levels, to 70,300 compared with 32,300 in April 2008. Likewise, new unemployment compensatioj claims rose ata 104.
6 percent rate in Aprill to 12,101, this indicator’s third consecutive year-over-yeaer increase of 100 percent or greater. On the positived side, existing homes sales for the metro arearose 5.6 percen in April, the first year-over-yeaf increase in this indicator in sevebn months and only the second such gain in nearlyh three years.
Only three of 20 Aprill indicators registered improvementfrom year-agpo levels, matching the numbert of upward-pointing indicators recorded in March, the MMAC said in its Economidc Trends report. "The employment situation continued to deterioratew with deepening job declines and unemploymenft indicators over double what they were one year saidBret Mayborne, economivc research director for the MMAC. "But metro area existingg homes sales rose for only the second time in nearlhy three years giving some hopefor near-term improvemenr in a stagnant local housinv and real estate market." Nonfarm employment in the metrl area fell 4.
8 percent in April to 812,300, down from March’z 4.3 percent decrease. Employment levels have now declinerd comparedwith year-ago levels in each of the past 12 with April’s decline being the steepestg registered in this period, the MMAC said. Only two of 10 majofr industry sectors registered April job gainsa compared with oneyear ago, while eight registered Unemployment indicators for the metro area both measure more than twice their year-earlier levels. The numbeer of unemployed in metro Milwaukeerose 117.6 against year-ago levels, to 70,300 compared with 32,300 in April 2008. Likewise, new unemployment compensatioj claims rose ata 104.
6 percent rate in Aprill to 12,101, this indicator’s third consecutive year-over-yeaer increase of 100 percent or greater. On the positived side, existing homes sales for the metro arearose 5.6 percen in April, the first year-over-yeaf increase in this indicator in sevebn months and only the second such gain in nearlyh three years.
среда, 13 июля 2011 г.
Kelly McParland: Obama befuddles Republicans by being reasonable - National Post (blog)
opexibu.wordpress.com
Fox News | Kelly McParland: Obama befuddles Republicans by being reasonable National Post (blog) The other day the US president went on TV and made a point of sounding reasonable. The first thing he did in telling viewers about crisis talks on the US debt level was to emphasize his willingness to compromise. He was, he said, willing to make some ... GOP Ceded Fiscal High Ground to Obama on "Grand Bargain" |
понедельник, 11 июля 2011 г.
Experts offer guidance in coupon world - Arizona Daily Star
http://gipnotizer.com/Gemstones/Gemstone/
Experts offer guidance in coupon world Arizona Daily Star Sahuarita resident Amber Flores, a 30-year-old hospice nurse and married mother of four, is the subject of tonight's "Extreme Couponing" show on TLC. She'll share her tips on getting the most out of the money-saving couponing hobby. ... |
пятница, 8 июля 2011 г.
Judge files suit against Dowd Ritter, Regions' board - Birmingham Business Journal:
http://gmpi-plugins.org/insan-avcisi.htm
David N. Lichtenstein, who serves as a judge in the 10th Judicial Circuit Courr ofJefferson County’s Criminalo Division, initiated the which is considered a rare occurrence in the law community, accordinfg to legal experts. The suit, filedr earlier this month in Jefferson claimsthat Regions’ CEO Dowd Ritter and its boardc of directors looked out for their “own financia l interests” by doling out stoci awards and incentives durinb troubled times and “wasting corporate assets,” according to coury documents. In 2008, the Birmingham-basesd bank’s directors awarded its management teamabout $5.
3 million in stock “How can they accept compensation and awarsd top executives bonuses and stock incentives when the companyu is losing money?” said LLC attorney Thomae Baddley Jr., who is representing Lichtensteinb in the case. “No one is addressing that simple question. They’ve run it into the It’s just gross mismanagemenrt and they are being rewardedfor it.” Ritterr and 17 former and currenrt board members were named in the suit, including ’s CEO Charles D. McCrary and Innovation Depot CEOSusan W. Matlock.
The Birmingham-basedc bank plans to dispute the case in said Regions spokesmanTim “We believe the case is without merit and we plan a vigorouw defense,” he said in response to the Lichtenstein owns a stake in Regions via the “Spydedr Fund,” which is an investment in a number of companies listed on Standard and Poor’s In the suit, he said he watcheed the company’s stock decline to aboutg $5 per share, compared to $38 per according to court documents. The lawsuit also calledf Ritter’s use of the company aircraft a “wastr of corporate assets.
” However, in Regions’ annual proxy statementg releasedin March, the company said its policy requires its CEO use the company-owned aircraft “to ensure the physicalp security of our CEO and his “What sense does that make He’s not the president of the United States,” Baddley said. “Give me a The lawsuit is classified as a shareholder a case initiated by a shareholder on behalf of the corporatiohn against a thirdparty – usually top managementt executives. Any proceeds recovered from the suits go directly intothe company’es coffers – not to the shareholders.
“Thisz action seeks to recoupo as damages to the company the amounf ofsuch bonuses, compensation and other benefits which have been improperly bestowed upon and wrongfully retained by certain executivs officers and directors,” the court documents said. Last Regions’ board said Ritter was eligiblefor $1.1 million in bonuses based on his performance, but he declinedx to accept it. Instead of a cash the bank’s awarded Ritter about the same amounr inrestricted stocks, which is a part of his 2009 long-terkm incentive process, according to the bank’s proxy statemenr released in March.
All of current and former board members within the past two yearx were named inthe lawsuit: George W. Samuel W. Bartholomew Jr., David J. Cooper, Earnest W. Deavenport Jr., Don James R. Malone, John E. Maupin, Claude B. John Maupin Jr., John R. Jorge M. Perez, Spence L. Harry W. Witt, Lee, J. Styslinger III and Marthqa R. Ingram, Matlock and McCrary. Michaep Fistel, a partner of Atlanta-based law firm , said shareholdet derivative lawsuits could likely increase agains t financial institutions given the current economic which hasn’t been kind to banks.
David N. Lichtenstein, who serves as a judge in the 10th Judicial Circuit Courr ofJefferson County’s Criminalo Division, initiated the which is considered a rare occurrence in the law community, accordinfg to legal experts. The suit, filedr earlier this month in Jefferson claimsthat Regions’ CEO Dowd Ritter and its boardc of directors looked out for their “own financia l interests” by doling out stoci awards and incentives durinb troubled times and “wasting corporate assets,” according to coury documents. In 2008, the Birmingham-basesd bank’s directors awarded its management teamabout $5.
3 million in stock “How can they accept compensation and awarsd top executives bonuses and stock incentives when the companyu is losing money?” said LLC attorney Thomae Baddley Jr., who is representing Lichtensteinb in the case. “No one is addressing that simple question. They’ve run it into the It’s just gross mismanagemenrt and they are being rewardedfor it.” Ritterr and 17 former and currenrt board members were named in the suit, including ’s CEO Charles D. McCrary and Innovation Depot CEOSusan W. Matlock.
The Birmingham-basedc bank plans to dispute the case in said Regions spokesmanTim “We believe the case is without merit and we plan a vigorouw defense,” he said in response to the Lichtenstein owns a stake in Regions via the “Spydedr Fund,” which is an investment in a number of companies listed on Standard and Poor’s In the suit, he said he watcheed the company’s stock decline to aboutg $5 per share, compared to $38 per according to court documents. The lawsuit also calledf Ritter’s use of the company aircraft a “wastr of corporate assets.
” However, in Regions’ annual proxy statementg releasedin March, the company said its policy requires its CEO use the company-owned aircraft “to ensure the physicalp security of our CEO and his “What sense does that make He’s not the president of the United States,” Baddley said. “Give me a The lawsuit is classified as a shareholder a case initiated by a shareholder on behalf of the corporatiohn against a thirdparty – usually top managementt executives. Any proceeds recovered from the suits go directly intothe company’es coffers – not to the shareholders.
“Thisz action seeks to recoupo as damages to the company the amounf ofsuch bonuses, compensation and other benefits which have been improperly bestowed upon and wrongfully retained by certain executivs officers and directors,” the court documents said. Last Regions’ board said Ritter was eligiblefor $1.1 million in bonuses based on his performance, but he declinedx to accept it. Instead of a cash the bank’s awarded Ritter about the same amounr inrestricted stocks, which is a part of his 2009 long-terkm incentive process, according to the bank’s proxy statemenr released in March.
All of current and former board members within the past two yearx were named inthe lawsuit: George W. Samuel W. Bartholomew Jr., David J. Cooper, Earnest W. Deavenport Jr., Don James R. Malone, John E. Maupin, Claude B. John Maupin Jr., John R. Jorge M. Perez, Spence L. Harry W. Witt, Lee, J. Styslinger III and Marthqa R. Ingram, Matlock and McCrary. Michaep Fistel, a partner of Atlanta-based law firm , said shareholdet derivative lawsuits could likely increase agains t financial institutions given the current economic which hasn’t been kind to banks.
среда, 6 июля 2011 г.
Special insurance assessment hits credit unions
vavyzina.wordpress.com
Credit unions are waiting to hear from the Nationak Credit UnionAdministration (NCUA) on whether they’ll be able to spread that charge out over a numberr of years and retroactively change thei r first-quarter results or take their lumps in the first quarter and move on. Creditg union leaders are mixed on which option they The NCUA, which operates the insuranc fund for credit unions in much the same way the Federakl Deposit Insurance Corp.
operates bank deposit insurance, will hold an onlinde seminar June 24 to instruct credit unions on that and Twin Cities credit union officials are anxiously awaitingthe “We started out being very healthy, but it’ws like the whole sea has been lowered about 1 said Jeff Schwalen, president of Hiway Federal Credit Uniobn in St. Paul. “It’s a hurtful thingt for us to absorb. Now the questionb is, do we want to really spread it out over the or take the pain allat Hiway, the Twin Cities’ third-largest credit uniohn with assets of $806.7 took a $6.
2 million expense in the first quarter, droppinv its quarterly income from $200,000 to a loss of $6 The problem came to a head in March when two corporatde credit unions, which are essentially the creditg unions to credit unions, were seized by the government aftef taking deep impairments to their mortgage-backed securitiexs portfolios. The two failures dragged down the capitao levels in the National Crediy Union Share InsuranceFund (NCUSIF) in the same way bank failured deplete the FDIC fund. To stabilize the NCUSIF, in which each insurex credit union is requiredd to keep 1 percent of its the NCUA made thepremium assessment.
A law signesd by President Obama last month allowed the which had been nearly 1 percent ofinsurede shares, to be spread over eight year instead of being taken all at once. the NCUA is weighing several options such as spreadint the assessments evenly over the next eight yeards or keeping the charge ontheid first-quarter statements if they already took it. Credift unions’ first-quarter numbers are difficulf to determine since some assessex the charge and some are waiting forthe guidance.
“Ifv you’re looking at first-quarter numbers, one credit union may look terrific andthey didn’g book the charge, and others may have take n the charge and they’ll have pretth ugly numbers,” said Mark Cummins, president and CEO of the Minnesotaw Credit Union Network in St. For credit unions that are already strugglingf to shore up theird reserves in the face of heavy loan any extra premium assessment even spread over a number ofyears — will add more stressa to their balance sheets.
“We’rs all working through some loan delinquenciesand charge-offs,” said adding that even sprea over eight years, the assessmenty will weaken annual earnings by 0.1 to 0.15 “It’s going to make it that much harder to Credit union members shouldn’t notice any difference in how their organizationx operate due to the charge, said Williamk Raker, president and CEO of US Federal Credi Union in Burnsville. “This is an extraordinaryh bookkeeping entry,” Raker said. “We don’t see this as impairing our abilitto serve.
”
Credit unions are waiting to hear from the Nationak Credit UnionAdministration (NCUA) on whether they’ll be able to spread that charge out over a numberr of years and retroactively change thei r first-quarter results or take their lumps in the first quarter and move on. Creditg union leaders are mixed on which option they The NCUA, which operates the insuranc fund for credit unions in much the same way the Federakl Deposit Insurance Corp.
operates bank deposit insurance, will hold an onlinde seminar June 24 to instruct credit unions on that and Twin Cities credit union officials are anxiously awaitingthe “We started out being very healthy, but it’ws like the whole sea has been lowered about 1 said Jeff Schwalen, president of Hiway Federal Credit Uniobn in St. Paul. “It’s a hurtful thingt for us to absorb. Now the questionb is, do we want to really spread it out over the or take the pain allat Hiway, the Twin Cities’ third-largest credit uniohn with assets of $806.7 took a $6.
2 million expense in the first quarter, droppinv its quarterly income from $200,000 to a loss of $6 The problem came to a head in March when two corporatde credit unions, which are essentially the creditg unions to credit unions, were seized by the government aftef taking deep impairments to their mortgage-backed securitiexs portfolios. The two failures dragged down the capitao levels in the National Crediy Union Share InsuranceFund (NCUSIF) in the same way bank failured deplete the FDIC fund. To stabilize the NCUSIF, in which each insurex credit union is requiredd to keep 1 percent of its the NCUA made thepremium assessment.
A law signesd by President Obama last month allowed the which had been nearly 1 percent ofinsurede shares, to be spread over eight year instead of being taken all at once. the NCUA is weighing several options such as spreadint the assessments evenly over the next eight yeards or keeping the charge ontheid first-quarter statements if they already took it. Credift unions’ first-quarter numbers are difficulf to determine since some assessex the charge and some are waiting forthe guidance.
“Ifv you’re looking at first-quarter numbers, one credit union may look terrific andthey didn’g book the charge, and others may have take n the charge and they’ll have pretth ugly numbers,” said Mark Cummins, president and CEO of the Minnesotaw Credit Union Network in St. For credit unions that are already strugglingf to shore up theird reserves in the face of heavy loan any extra premium assessment even spread over a number ofyears — will add more stressa to their balance sheets.
“We’rs all working through some loan delinquenciesand charge-offs,” said adding that even sprea over eight years, the assessmenty will weaken annual earnings by 0.1 to 0.15 “It’s going to make it that much harder to Credit union members shouldn’t notice any difference in how their organizationx operate due to the charge, said Williamk Raker, president and CEO of US Federal Credi Union in Burnsville. “This is an extraordinaryh bookkeeping entry,” Raker said. “We don’t see this as impairing our abilitto serve.
”
понедельник, 4 июля 2011 г.
Emerging Tall Blacks face height, funding issues - Stuff.co.nz
http://applied-ds.com/index.php?option=com_content&view=article&id=60&Itemid=95
Stuff.co.nz | Emerging Tall Blacks face height, funding issues Stuff.co.nz BOUNCING BACK: Dion Prewster, in action for the Junior Tall Blacks at the 2009 U-19 World Championship in Auckland, headlines an Emerging Tall Blacks team for the World University Games in China in August. New Zealand coach Dean Vickerman eyes next ... |
пятница, 1 июля 2011 г.
TECO Energy outlook remains strong - The Business Journal of the Greater Triad Area:
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billion in debt held by and subsidiariesand Co. The ratinv is supported by the underlying strengthof TECO’ regulated electric and gas utilitt subsidiary, from which it derives stablr cash distributions to meet its funding Fitch said a release. Tampa Electrivc continues to post strongcredity metrics, it maintains solid operating performance and it benefits from Florida’s constructive regulatory environment, Fitch said. Fitcn is concerned, however, about slowing customer growt h atTampa Electric. But the company has responded to slower growtbh by postponing projects to increasseelectric capacity.
Another concern for Fitch is cash flow deterioratiomn atTECO (NYSE: TE) Guatemala because of the adverse rate ordet in 2008, unplanned outages at the San Jose uncertainty over the extension of a purchased powee agreement, and the potential for deferred or renegotiated contractss because of declining market higher production costs and slumping demand for coal. TECO Coal and TECO Guatemalq provide roughly 20 percent of the parent company’s consolidated earnings before taxes, depreciation and amortization, Fitch Credit ratios at Tampa Electric shoulsd benefit from higher base rates in 2009 and 2010 as a resultr of a $138 millionn rate order approved in March, Fitch said.
In an affiliate waterborne transportation agreement that reducedTampa Electric’s annual net income by $10 millionm in prior years is expiring. Fitch expects coverage ratios to remain relatively strong with fundds from operations coverage at nearlgy five timesin 2009. TECO Coal is expected to benefif from higher priced contracts signedin 2008. However, soft coal demancd and higher mining production costs at TECO Coal raise the risks ofcontractual non-performance by counter-partieas and pressured margins. Divers e regulatory orders and operatinv issues at the Guatemalan operations will resultf in dividend distributions that are lowet thanhistoric levels.
TECO's liquidity positio n is considered strong, Fitch said. Cash and cash equivalent s were $34.9 million and availablee credit facilitieswere $530 million as of March 31. Liquidity was enhanced by a netoperatinb loss-tax carry forward of $547.r5 million as of Dec. 31, which is expectede to result in minimal cash tax paymentsthrougu 2012. In addition, TECO' s $100 million note maturingg in 2010 is expected to be retired withinternal cash. Positive rating action could resul t in the future from consolidated leverage ratio reduction in 2010 and highetr cash flows from a full year of highe base rates in 2010 and effectivercost control.
billion in debt held by and subsidiariesand Co. The ratinv is supported by the underlying strengthof TECO’ regulated electric and gas utilitt subsidiary, from which it derives stablr cash distributions to meet its funding Fitch said a release. Tampa Electrivc continues to post strongcredity metrics, it maintains solid operating performance and it benefits from Florida’s constructive regulatory environment, Fitch said. Fitcn is concerned, however, about slowing customer growt h atTampa Electric. But the company has responded to slower growtbh by postponing projects to increasseelectric capacity.
Another concern for Fitch is cash flow deterioratiomn atTECO (NYSE: TE) Guatemala because of the adverse rate ordet in 2008, unplanned outages at the San Jose uncertainty over the extension of a purchased powee agreement, and the potential for deferred or renegotiated contractss because of declining market higher production costs and slumping demand for coal. TECO Coal and TECO Guatemalq provide roughly 20 percent of the parent company’s consolidated earnings before taxes, depreciation and amortization, Fitch Credit ratios at Tampa Electric shoulsd benefit from higher base rates in 2009 and 2010 as a resultr of a $138 millionn rate order approved in March, Fitch said.
In an affiliate waterborne transportation agreement that reducedTampa Electric’s annual net income by $10 millionm in prior years is expiring. Fitch expects coverage ratios to remain relatively strong with fundds from operations coverage at nearlgy five timesin 2009. TECO Coal is expected to benefif from higher priced contracts signedin 2008. However, soft coal demancd and higher mining production costs at TECO Coal raise the risks ofcontractual non-performance by counter-partieas and pressured margins. Divers e regulatory orders and operatinv issues at the Guatemalan operations will resultf in dividend distributions that are lowet thanhistoric levels.
TECO's liquidity positio n is considered strong, Fitch said. Cash and cash equivalent s were $34.9 million and availablee credit facilitieswere $530 million as of March 31. Liquidity was enhanced by a netoperatinb loss-tax carry forward of $547.r5 million as of Dec. 31, which is expectede to result in minimal cash tax paymentsthrougu 2012. In addition, TECO' s $100 million note maturingg in 2010 is expected to be retired withinternal cash. Positive rating action could resul t in the future from consolidated leverage ratio reduction in 2010 and highetr cash flows from a full year of highe base rates in 2010 and effectivercost control.
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