Video game developer 38 Studios failed to make a required $1.13 million payment to the R.I. Economic Development Corporation (RIEDC), causing alarm at the Rhode Island State House about the company’s finances, House Speaker Gordon Fox confirmed late Tuesday, according to a WPRI report. The report comes just one day after Rhode Island officials met with company executives in what Gov. Lincoln Chafee described as an effort to keep 38 Studios solvent. 38 Studios in February launched its first title,...
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Curt Schilling's 38 Studios missed $1.1M loan payment (report)
Media & Marketing News - Media & Marketing News Headlines | Bizjournals.com16 May 2012 | 10:38 am -
Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
National Business News - Local Business News | bizjournals16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
Analyst cuts Kroger investment rating
Business News from the Midwest - bizjournals.com16 May 2012 | 1:05 pmAn analysis firm lowered its rating on Kroger Co.’s stock from “buy” to “neutral” Monday. Cleveland Research pointed to weakening volume trends and an outlook for narrower margins caused by competitive pressures when dropping its rating on the downtown-based supermarket operator. Cincinnati-based Kroger earned 50 cents per share in the fourth quarter, its most recent financial report. That beat consensus estimates of 49 cents, according to Thomson Reuters data. Kroger carries a price-earnings... -
Tripwire acquisition nets $500K for Oregon charities
Bizjournals.com Northwest RSS Feed16 May 2012 | 12:45 pmIt has been just over a year since Tripwire Inc. was acquired by private equity firm Thoma Bravo LLC for an undisclosed amount. The deal, however, is now paying off for Oregon charities thanks to a long-running partnership between Tripwire and the Oregon Entrepreneurs Network. Prior to the acquisition, Tripwire had granted an equity interest in the company to the OEN's Entrepreneurs Foundation of the Northwest, which helps companies establish and execute philanthropic endeavors. When Tripwire was... -
Raytheon gets $314M missile contract from Navy
Business News from Southwest US - bizjournals.com16 May 2012 | 1:26 pmRaytheon Co. has received a $314 million contract from the U.S. Navy for production of the Standard Missile-6. Close to half the work for the contract will be done in Tucson. The missile is an extended-range, anti-aircraft missile used aboard ships. The contract calls for an upgraded version of the missile that features improved Raytheon guidance.
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National Business News - Local Business News | bizjournals
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Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
Merry Maids to hire 1,000 new U.S. employees
16 May 2012 | 1:29 pmMerry Maids will hire about 1,000 new employees for its 70 company-owned locations and 400 franchises throughout the U.S. The Memphis-based home cleaning franchise will host a week-long hiring event May 21-25, during which all interested candidates can apply online for jobs at jobs.merrymaids.com. Local managers have committed to follow up with almost all qualified applicants within 24 hours for telephone interviews. The jobs available are both full- and part-time and are primarily home cleaning... -
Bank of America hiking relocation aid for troubled homeowners
16 May 2012 | 1:29 pmBank of America Corp. has launched a nationwide program that increases relocation payments to delinquent mortgage customers who complete qualifying short sales, Reuters reports. The bank says the program offers payments ranging from $2,500 to $30,000 to help homeowners move out of their homes. To qualify, borrowers must work out a pre-approved sale price with the bank, start the short sale before the end of the year and complete it by September 2013. BofA customers have completed 200,000 short... -
Target increases profit forecast after strong quarter
16 May 2012 | 1:28 pmCompany's profits were hurt by Canadian costs, but still beat expectations. Target Corp. (NYSE: TGT) Headquarters: Minneapolis Business: Discount retailerRank on the Business Journal's list of biggest Minnesota public companies: 2 News Target's stock was mostly flat (up less than 1 percent in midday trading) after reporting better-than-expected profits on the strength of strong quarterly sales. The retailer also increased its profit outlook for the year by 5 cents per share. Target had profit... -
Bradenton Herald parent company announces management changes
16 May 2012 | 1:28 pmThe McClatchy Co. (NYSE: MNI) has named Elaine Lintecum vice president of finance and chief financial officer, and put Mark Zieman, vice president of operations, in charge of Florida operations. Lintecum replaces Patrick J. Talamantes, who effective Wednesday is McClatchy's president and chief executive, according to a written statement. Talamantes replaced Gary Pruitt, as previously reported. Zieman will oversee Florida publications including the Bradenton Herald, The Miami Herald and El Nuevo...
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Business News from the Midwest - bizjournals.com
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Analyst cuts Kroger investment rating
16 May 2012 | 1:05 pmAn analysis firm lowered its rating on Kroger Co.’s stock from “buy” to “neutral” Monday. Cleveland Research pointed to weakening volume trends and an outlook for narrower margins caused by competitive pressures when dropping its rating on the downtown-based supermarket operator. Cincinnati-based Kroger earned 50 cents per share in the fourth quarter, its most recent financial report. That beat consensus estimates of 49 cents, according to Thomson Reuters data. Kroger carries a price-earnings... -
Frontier Airlines grounding connection between Columbus and Milwaukee
16 May 2012 | 1:04 pmFrontier Airlines Inc. is suspending flights from Columbus to Milwaukee on June 1 as part of a larger exit from its regional business at General Mitchell International Airport. The airline’s two daily flights from Port Columbus International Airport to Milwaukee are the only flights it services out of Columbus, spokeswoman Lindsey Carpenter said. Frontier also is cutting service to Milwaukee from Indianapolis; Nashville, Tenn.; Omaha, Neb.; Pittsburgh and New York, she said. The company is reallocating... -
James offers preview of updated Kansas City tax plan
16 May 2012 | 12:59 pmWe’ve got a fresh update from Mayor Sly James’ office about what Thursday’s tax proposal will look like. Readers might remember an original $1 billion bond issuance idea that was cast out early in the budget process to pay for infrastructure improvements. Discussions with businesses, council members and others have altered how voters will get to decide portions of Kansas City’s tax structure during the next year. Here’s how it works: In August, voters will consider these questions (summaries,... -
Coloplast sponsors paralyzed driver hoping for Indy 500 win
16 May 2012 | 12:55 pmA paralyzed man with hopes of competing in the Indianapolis 500 is getting help from a Minneapolis-based medical device company. Coloplast North America says it has become a corporate sponsor for Michael Johnson, who was paralyzed from the mid-chest down due to spinal cord injuries during a dirt-track competition in 2005. Johnson will use a car modified to allow his hands full control of acceleration and braking. “My goal is to become the first paralyzed driver to win the Indy 500,” Johnson... -
Kobach says he’ll take Kansas redistricting issue to court
16 May 2012 | 12:43 pmKansas Secretary of State Kris Kobach announced Wednesday that he’s calling upon federal courts to settle a state redistricting impasse. The Legislature is required to establish new political boundaries every 10 years to reflect population changes. This year, however, lawmakers are in day 93 of what was to be a 90-day session, and they still haven’t settled upon redrawn maps. The new boundaries are supposed to be in place for the Aug. 7 primary election. Kobach said Wednesday that because...
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Bizjournals.com Northwest RSS Feed
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Tripwire acquisition nets $500K for Oregon charities
16 May 2012 | 12:45 pmIt has been just over a year since Tripwire Inc. was acquired by private equity firm Thoma Bravo LLC for an undisclosed amount. The deal, however, is now paying off for Oregon charities thanks to a long-running partnership between Tripwire and the Oregon Entrepreneurs Network. Prior to the acquisition, Tripwire had granted an equity interest in the company to the OEN's Entrepreneurs Foundation of the Northwest, which helps companies establish and execute philanthropic endeavors. When Tripwire was... -
Washington state gets payout from Skechers in false advertising suit
16 May 2012 | 12:29 pmCalifornia-based Skechers USA Inc. shoe company will pay $117,138 to Washington state to settle a lawsuit accusing the company of false claims that its “rocker-bottom” shoes promote weight loss and muscle strength, Attorney General Rob McKenna said Wednesday. The company has also allocated as much as $40 million for consumer refunds nationwide. Details about obtaining a refund are available on the Federal Trade Commission’s website. “Advertising materials claimed that consumers may ‘get... -
Real estate market brightens for home sellers
16 May 2012 | 12:09 pmThe Portland-area home market tightened significantly in April as the inventory of for-sale properties dipped well into seller-friendly territory. Prices remain stable and don’t yet reflect the imbalance between supply and demand, according to figures released Wednesday by the Regional Multiple Listing Service RMLS reported a 4.7-month inventory of unsold homes in April, down from 7.2 months and 7.3 months in 2011 and 2010, respectively. It is the tightest inventory since June 2007. As recently... -
People on the Move - 2012-05-16
16 May 2012 | 10:43 amPeople on the Move - 2012-05-16 -
Apple iPhone screen to grow to 4 inches?
16 May 2012 | 9:32 amApple Inc. has reportedly ordered larger screens for the iPhone it will roll out later this year, growing the display to 4 inches from the 3.5 inches on previous versions of the popular smartphone. As the Silicon Valley / San Jose Business Journal reports, there are reports that Apple has ordered the bigger screens for the new phone that is expected in the fall.
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Business News from Southwest US - bizjournals.com
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Raytheon gets $314M missile contract from Navy
16 May 2012 | 1:26 pmRaytheon Co. has received a $314 million contract from the U.S. Navy for production of the Standard Missile-6. Close to half the work for the contract will be done in Tucson. The missile is an extended-range, anti-aircraft missile used aboard ships. The contract calls for an upgraded version of the missile that features improved Raytheon guidance. -
Parkland hospital construction on schedule, board told
16 May 2012 | 12:48 pmThe $1.3 billion Parkland Memorial Hospital construction project is on schedule and on budget, the institution's governing board was told Wednesday. A 1,700-vehicle parking garage that opened Jan. 30 was completed at a cost of $24.9 million, or $1.8 million under budget, said Louis Saksen, senior vice president of new hospital construction. The former parking garage and a sky bridge across Harry Hines Boulevard have been demolished. Saksen gave a construction update and showed project photos... -
Slideshow: Sheraton Dallas North completes renovation
16 May 2012 | 12:42 pmThe Sheraton Dallas North Hotel by the Galleria has completed a $17 million renovation. Dallas-based Michelle Meredith & Associates designed the interior, which touched the reception area, lobby, common areas, restaurant, ballroom and health club. The renovation is part of an effort to enhance Sheraton hotels. The Sheraton Dallas Hotel downtown is working on a $12 million renovation of the the 507 guests rooms in the hotel’s South Tower. -
Mocavo lands $4M from Foundry Group
16 May 2012 | 12:42 pmMocavo, an online genealogy research service, has landed a $4 million venture capital investment from the Foundry Group. Both companies are based in Boulder. Mocavo is a subscription service that helps users find ancestors in its online genealogy database, which it calls the world’s largest. Mocavo’s technology also automatically trolls the web on behalf of users and tries to flesh out family trees from public troves of genealogical information and user-submitted sources as well as from public... -
Production at Valero’s Memphis refinery back following outage
16 May 2012 | 12:36 pmValero Energy Corp. experienced a brief power outage at the company’s refinery in Memphis late Tuesday. However, company spokesman Bill Day said Wednesday that all main production units at Memphis are back in operation. The company experienced no material impact to production at the 195,000 barrel-per-day refinery. San Antonio-based Valero (NYSE: VLO) is the world’s largest independent refiner with 16 refineries. The company has a combined throughput capacity of refining 3 million barrels per...
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Business News from the Northeast US - bizjournals
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Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
Maryland part of $45M Skechers settlement
16 May 2012 | 1:28 pmSkechers USA Inc. has reached a $45 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. The settlement is in response to claims that the company engaged in deceptive marketing of several lines of shoes including its Shape-Ups, Tone-Ups, and the Skechers Resistance Runner athletic shoes. An investigation revealed that Skechers (NYSE: SKX) engaged in deceptive and misleading practices when it unlawfully marketed its line... -
NHL takes step to negotiate new labor deal
16 May 2012 | 1:25 pmThe National Hockey League has provided the NHL Player’s Association with notice that it wants to terminate and/or modify the collective bargaining agreement, according to the SportsBusiness Journal. The CBA deal expires Sept. 15, 2012. An NHLPA spokesman confirmed to SBJ reporter Liz Mullen that the NHL sent the notice, as required by CBA, that it wants to change or end deal. The current pact, which included a significant cut in salaries to players, was reached in 2005 after the NHL cancelled... -
First Potomac Realty Trust CFO's fate in question
16 May 2012 | 1:22 pmFirst Potomac Realty Trust could be forced to make some executive-level changes as an internal investigation into its financial controls continues to preoccupy the Bethesda-based real estate investment trust. CEO Doug Donatelli made a point of noting, and then declining to discuss, why company Chief Accounting Officer Michael Comer signed off on First Potomac’s first-quarter earnings report issued Tuesday. He added that Chief Financial Officer Barry Bass, who typically prepares the company’s... -
Bryn Mawr Bank completes purchase of Devon firm
16 May 2012 | 1:22 pmBryn Mawr Bank Corp. said Wednesday that it closed the acquisition of Devon, Pa.-based Davidson Trust Co. from Boston Private Financial Holdings Inc. Bryn Mawr bought Davidson for $10.5 million, with $7.35 million payable upon closing and $3.15 million to be paid over an 18-month period following the closing contingent on levels of assets under management. Davidson has about $1 billion in assets under management, which would bring Bryn Mawr’s total to just under $6 billion, a 19 percent increase. Davidson...
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Business News from Southeast US - bizjournals.com
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Merry Maids to hire 1,000 new U.S. employees
16 May 2012 | 1:29 pmMerry Maids will hire about 1,000 new employees for its 70 company-owned locations and 400 franchises throughout the U.S. The Memphis-based home cleaning franchise will host a week-long hiring event May 21-25, during which all interested candidates can apply online for jobs at jobs.merrymaids.com. Local managers have committed to follow up with almost all qualified applicants within 24 hours for telephone interviews. The jobs available are both full- and part-time and are primarily home cleaning... -
Bank of America hiking relocation aid for troubled homeowners
16 May 2012 | 1:29 pmBank of America Corp. has launched a nationwide program that increases relocation payments to delinquent mortgage customers who complete qualifying short sales, Reuters reports. The bank says the program offers payments ranging from $2,500 to $30,000 to help homeowners move out of their homes. To qualify, borrowers must work out a pre-approved sale price with the bank, start the short sale before the end of the year and complete it by September 2013. BofA customers have completed 200,000 short... -
Bradenton Herald parent company announces management changes
16 May 2012 | 1:28 pmThe McClatchy Co. (NYSE: MNI) has named Elaine Lintecum vice president of finance and chief financial officer, and put Mark Zieman, vice president of operations, in charge of Florida operations. Lintecum replaces Patrick J. Talamantes, who effective Wednesday is McClatchy's president and chief executive, according to a written statement. Talamantes replaced Gary Pruitt, as previously reported. Zieman will oversee Florida publications including the Bradenton Herald, The Miami Herald and El Nuevo... -
Social Madness nomination period closes out, what's next?
16 May 2012 | 1:28 pmThe nomination period for Social Madness is officially over. Tuesday, May 15 was the final day companies could sign up for the competition that gives them a chance to flex their social media muscles locally and potentially nationally across 40 markets. The final submitted nominations are nothing to scoff at though, as some heavy hitters in Web.com and Winn-Dixie were some of the biggest names to sign up in the last few days. As the nomination period is over, most of you are probably wondering... -
Coal plant hit by April 27 tornado reopens
16 May 2012 | 1:28 pmA coal plant hit by a tornado on April 27, 2011, has reopened. According to Fox 6, Cliffs Natural Resources Inc.'s Concord Coal Prep Plant has reopened in a new facility Allison Bonnett Memorial Drive. The company's Oak Grove Mine continued to operate during the rebuilding process, allowing 500 employees to keep their jobs.
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Accounting News - Accounting News Headlines | Bizjournals.com
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Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
Merry Maids to hire 1,000 new U.S. employees
16 May 2012 | 1:29 pmMerry Maids will hire about 1,000 new employees for its 70 company-owned locations and 400 franchises throughout the U.S. The Memphis-based home cleaning franchise will host a week-long hiring event May 21-25, during which all interested candidates can apply online for jobs at jobs.merrymaids.com. Local managers have committed to follow up with almost all qualified applicants within 24 hours for telephone interviews. The jobs available are both full- and part-time and are primarily home cleaning... -
Bank of America hiking relocation aid for troubled homeowners
16 May 2012 | 1:29 pmBank of America Corp. has launched a nationwide program that increases relocation payments to delinquent mortgage customers who complete qualifying short sales, Reuters reports. The bank says the program offers payments ranging from $2,500 to $30,000 to help homeowners move out of their homes. To qualify, borrowers must work out a pre-approved sale price with the bank, start the short sale before the end of the year and complete it by September 2013. BofA customers have completed 200,000 short... -
Target increases profit forecast after strong quarter
16 May 2012 | 1:28 pmCompany's profits were hurt by Canadian costs, but still beat expectations. Target Corp. (NYSE: TGT) Headquarters: Minneapolis Business: Discount retailerRank on the Business Journal's list of biggest Minnesota public companies: 2 News Target's stock was mostly flat (up less than 1 percent in midday trading) after reporting better-than-expected profits on the strength of strong quarterly sales. The retailer also increased its profit outlook for the year by 5 cents per share. Target had profit... -
Bradenton Herald parent company announces management changes
16 May 2012 | 1:28 pmThe McClatchy Co. (NYSE: MNI) has named Elaine Lintecum vice president of finance and chief financial officer, and put Mark Zieman, vice president of operations, in charge of Florida operations. Lintecum replaces Patrick J. Talamantes, who effective Wednesday is McClatchy's president and chief executive, according to a written statement. Talamantes replaced Gary Pruitt, as previously reported. Zieman will oversee Florida publications including the Bradenton Herald, The Miami Herald and El Nuevo...
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Agriculture News - Agriculture News Headlines | Bizjournals.com
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Parkland hospital construction on schedule, board told
16 May 2012 | 12:48 pmThe $1.3 billion Parkland Memorial Hospital construction project is on schedule and on budget, the institution's governing board was told Wednesday. A 1,700-vehicle parking garage that opened Jan. 30 was completed at a cost of $24.9 million, or $1.8 million under budget, said Louis Saksen, senior vice president of new hospital construction. The former parking garage and a sky bridge across Harry Hines Boulevard have been demolished. Saksen gave a construction update and showed project photos... -
Mount Sinai Medical Center earns $3M in Q1
16 May 2012 | 12:48 pmMount Sinai Medical Center posted earnings of $3.3 million in the first quarter, down from $4.5 million in the same period a year ago, according to a report to its bond investors. However, the year-ago period included a $2.5 million contribution from the nonprofit hospital’s foundation, so its operating profits improved. Its net revenue grew to $128.6 million from $120.1 million a year ago. This was helped by a 2.5 percent increase in patient admissions and a 5.4 percent increase in emergency... -
Tripwire acquisition nets $500K for Oregon charities
16 May 2012 | 12:45 pmIt has been just over a year since Tripwire Inc. was acquired by private equity firm Thoma Bravo LLC for an undisclosed amount. The deal, however, is now paying off for Oregon charities thanks to a long-running partnership between Tripwire and the Oregon Entrepreneurs Network. Prior to the acquisition, Tripwire had granted an equity interest in the company to the OEN's Entrepreneurs Foundation of the Northwest, which helps companies establish and execute philanthropic endeavors. When Tripwire was... -
Kobach says he’ll take Kansas redistricting issue to court
16 May 2012 | 12:43 pmKansas Secretary of State Kris Kobach announced Wednesday that he’s calling upon federal courts to settle a state redistricting impasse. The Legislature is required to establish new political boundaries every 10 years to reflect population changes. This year, however, lawmakers are in day 93 of what was to be a 90-day session, and they still haven’t settled upon redrawn maps. The new boundaries are supposed to be in place for the Aug. 7 primary election. Kobach said Wednesday that because... -
Slideshow: Sheraton Dallas North completes renovation
16 May 2012 | 12:42 pmThe Sheraton Dallas North Hotel by the Galleria has completed a $17 million renovation. Dallas-based Michelle Meredith & Associates designed the interior, which touched the reception area, lobby, common areas, restaurant, ballroom and health club. The renovation is part of an effort to enhance Sheraton hotels. The Sheraton Dallas Hotel downtown is working on a $12 million renovation of the the 507 guests rooms in the hotel’s South Tower.
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Banking & Financial News - Banking & Financial News Headlines | Bizjournals.com
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Bank of America hiking relocation aid for troubled homeowners
16 May 2012 | 1:29 pmBank of America Corp. has launched a nationwide program that increases relocation payments to delinquent mortgage customers who complete qualifying short sales, Reuters reports. The bank says the program offers payments ranging from $2,500 to $30,000 to help homeowners move out of their homes. To qualify, borrowers must work out a pre-approved sale price with the bank, start the short sale before the end of the year and complete it by September 2013. BofA customers have completed 200,000 short... -
Republic Bancorp raises dividend
16 May 2012 | 1:27 pmRepublic Bancorp Inc. has raised its common stock dividend by 7 percent, to 15.6 cents per Class A share and 15 cents per Class B share. The dividend is payable July 20 to shareholders of record as of June 15. This is the company’s 12th consecutive increase in its quarterly cash dividend, according to a news release. Louisville-based Republic (NASDAQ: RBCAA) is the parent company of Republic Bank & Trust Co., with offices in Kentucky and Indiana, and Republic Bank, which has offices in Florida,... -
Bioworks names six companies selected for medical device accelerator
16 May 2012 | 1:27 pmThe Memphis Bioworks Foundation has announced the six medical device companies selected for the inaugural consortium of ZeroTo510, which is designed to help launch medical product companies. The companies will receive $50,000 in startup capital and will have access to experts in the field of medical devices and products. The funding is coming from Memphis-based venture companies Innova and MB Venture Partners. Through the program, companies also will receive assistance navigating the U.S. Food... -
Bryn Mawr Bank completes purchase of Devon firm
16 May 2012 | 1:22 pmBryn Mawr Bank Corp. said Wednesday that it closed the acquisition of Devon, Pa.-based Davidson Trust Co. from Boston Private Financial Holdings Inc. Bryn Mawr bought Davidson for $10.5 million, with $7.35 million payable upon closing and $3.15 million to be paid over an 18-month period following the closing contingent on levels of assets under management. Davidson has about $1 billion in assets under management, which would bring Bryn Mawr’s total to just under $6 billion, a 19 percent increase. Davidson... -
Catching up with our CFO Awards finalists
16 May 2012 | 1:20 pmAs I edited the Business Journal’s 2012 CFO of the Year Awards, I got a chance to learn more about each of the 15 award recipients. Some remarks the honored CFOs made in their interviews struck me as especially intriguing or insightful. See also: Gallery: Meet the CFO of the Year finalists Here’s a sampling: • There’s a reason Flir Systems CFO Tony Trunzo drives a BMW, besides wanting a nice car. BMW, he said, was the first car company to offer Flir’s infrared technology for detecting...
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Bankruptcy News - Bankruptcy News Headlines | Bizjournals.com
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Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
Merry Maids to hire 1,000 new U.S. employees
16 May 2012 | 1:29 pmMerry Maids will hire about 1,000 new employees for its 70 company-owned locations and 400 franchises throughout the U.S. The Memphis-based home cleaning franchise will host a week-long hiring event May 21-25, during which all interested candidates can apply online for jobs at jobs.merrymaids.com. Local managers have committed to follow up with almost all qualified applicants within 24 hours for telephone interviews. The jobs available are both full- and part-time and are primarily home cleaning... -
Bank of America hiking relocation aid for troubled homeowners
16 May 2012 | 1:29 pmBank of America Corp. has launched a nationwide program that increases relocation payments to delinquent mortgage customers who complete qualifying short sales, Reuters reports. The bank says the program offers payments ranging from $2,500 to $30,000 to help homeowners move out of their homes. To qualify, borrowers must work out a pre-approved sale price with the bank, start the short sale before the end of the year and complete it by September 2013. BofA customers have completed 200,000 short... -
Target increases profit forecast after strong quarter
16 May 2012 | 1:28 pmCompany's profits were hurt by Canadian costs, but still beat expectations. Target Corp. (NYSE: TGT) Headquarters: Minneapolis Business: Discount retailerRank on the Business Journal's list of biggest Minnesota public companies: 2 News Target's stock was mostly flat (up less than 1 percent in midday trading) after reporting better-than-expected profits on the strength of strong quarterly sales. The retailer also increased its profit outlook for the year by 5 cents per share. Target had profit... -
Bradenton Herald parent company announces management changes
16 May 2012 | 1:28 pmThe McClatchy Co. (NYSE: MNI) has named Elaine Lintecum vice president of finance and chief financial officer, and put Mark Zieman, vice president of operations, in charge of Florida operations. Lintecum replaces Patrick J. Talamantes, who effective Wednesday is McClatchy's president and chief executive, according to a written statement. Talamantes replaced Gary Pruitt, as previously reported. Zieman will oversee Florida publications including the Bradenton Herald, The Miami Herald and El Nuevo...
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Commercial Real Estate Industry News Headlines | Bizjournals.com
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Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
Slideshow: Sheraton Dallas North completes renovation
16 May 2012 | 12:42 pmThe Sheraton Dallas North Hotel by the Galleria has completed a $17 million renovation. Dallas-based Michelle Meredith & Associates designed the interior, which touched the reception area, lobby, common areas, restaurant, ballroom and health club. The renovation is part of an effort to enhance Sheraton hotels. The Sheraton Dallas Hotel downtown is working on a $12 million renovation of the the 507 guests rooms in the hotel’s South Tower. -
RSA renews major office lease in Bedford
16 May 2012 | 12:32 pmRSA, the Security Division of EMC Corp. (NYSE: EMC) inked a 328,232-square-foot office lease renewal at 174 & 176 Middlesex Turnpike in Bedford, Mass. The two interconnected buildings at 174 & 176 Middlesex Turnpike serve as RSA’s world headquarters. The corporate campus, built in 2001, is located on 55 acres along Route 3 in Bedford, 15 miles northwest of Boston. Terms of the deal were not disclosed. First quarter data from Jones Lang LaSalle (NYSE: JLL) reported that the average asking rent... -
Redwood City Saltworks boss Bruno quits job at DMB Associates
16 May 2012 | 12:31 pmJohn Bruno quit as senior vice president and general manager at DMB Associates Inc., leaving the Saltworks development in Redwood City without a leader. According to a report by Spectrum Magazine, Bruno took a job at a construction company in San Jose. Bruno was in charge of development for a joint venture, DMB Redwood City Saltworks, formed between his firm and Cargill Inc. to build on the 1,433-acre Saltworks property. Bruno's departure makes it less likely the already troubled project will... -
San Jose cuts fees for downtown high-rise rental developers
16 May 2012 | 12:30 pmThe San Jose City Council on Tuesday approved a set of temporary incentives to encourage high-rise residential tower development in the city, particularly in downtown. The incentives include: - A guarantee that application reviews will be no more than 120 days. - A 50 percent reduction of fees in lieu of adding park areas to developments. - A 50 percent reduction of construction-related taxes. - Elimination of the requirement for systems in high-rises that contain air to help firefighters control...
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Economic Snapshot News - Economic Snapshot News Headlines | Bizjournals.com
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Parkland hospital construction on schedule, board told
16 May 2012 | 12:48 pmThe $1.3 billion Parkland Memorial Hospital construction project is on schedule and on budget, the institution's governing board was told Wednesday. A 1,700-vehicle parking garage that opened Jan. 30 was completed at a cost of $24.9 million, or $1.8 million under budget, said Louis Saksen, senior vice president of new hospital construction. The former parking garage and a sky bridge across Harry Hines Boulevard have been demolished. Saksen gave a construction update and showed project photos... -
Mount Sinai Medical Center earns $3M in Q1
16 May 2012 | 12:48 pmMount Sinai Medical Center posted earnings of $3.3 million in the first quarter, down from $4.5 million in the same period a year ago, according to a report to its bond investors. However, the year-ago period included a $2.5 million contribution from the nonprofit hospital’s foundation, so its operating profits improved. Its net revenue grew to $128.6 million from $120.1 million a year ago. This was helped by a 2.5 percent increase in patient admissions and a 5.4 percent increase in emergency... -
Tripwire acquisition nets $500K for Oregon charities
16 May 2012 | 12:45 pmIt has been just over a year since Tripwire Inc. was acquired by private equity firm Thoma Bravo LLC for an undisclosed amount. The deal, however, is now paying off for Oregon charities thanks to a long-running partnership between Tripwire and the Oregon Entrepreneurs Network. Prior to the acquisition, Tripwire had granted an equity interest in the company to the OEN's Entrepreneurs Foundation of the Northwest, which helps companies establish and execute philanthropic endeavors. When Tripwire was... -
Kobach says he’ll take Kansas redistricting issue to court
16 May 2012 | 12:43 pmKansas Secretary of State Kris Kobach announced Wednesday that he’s calling upon federal courts to settle a state redistricting impasse. The Legislature is required to establish new political boundaries every 10 years to reflect population changes. This year, however, lawmakers are in day 93 of what was to be a 90-day session, and they still haven’t settled upon redrawn maps. The new boundaries are supposed to be in place for the Aug. 7 primary election. Kobach said Wednesday that because... -
Slideshow: Sheraton Dallas North completes renovation
16 May 2012 | 12:42 pmThe Sheraton Dallas North Hotel by the Galleria has completed a $17 million renovation. Dallas-based Michelle Meredith & Associates designed the interior, which touched the reception area, lobby, common areas, restaurant, ballroom and health club. The renovation is part of an effort to enhance Sheraton hotels. The Sheraton Dallas Hotel downtown is working on a $12 million renovation of the the 507 guests rooms in the hotel’s South Tower.
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Education News - Education News Headlines | Bizjournals.com
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Cisco to open Hawaii networking academy Friday at Honolulu Community College
16 May 2012 | 12:15 pmCisco Systems Inc. will open its first Hawaii Cisco Networking Academy at Honolulu Community College on Friday, a program to teach students how to design, build and manage computer networks and prepare them for information and communications technology jobs. The University of Hawaii will provide classroom space, computer lab equipment and instructors Honolulu Community College Networking Academy, while San Jose, Calif.-based Cisco (Nasdaq: CSCO) will provide free online course, teacher training... -
University of Hawaii considers new two-year Hawaiian studies degree program
16 May 2012 | 12:04 pmThe University of Hawaii is considering the creation of a new associate of arts degree program in Hawaii studies for the system's seven community colleges. The program would require students to earn 60 to 62 credits from courses that focus on Hawaiian culture and knowledge, in addition to general education classes that satisfy the core requirements at UH's four-year schools — University of Hawaii at Manoa, University of Hawaii Hilo, University of Hawaii West Oahu or University of Hawaii Maui College,... -
Michael Hodes starts new boutique law firm
16 May 2012 | 11:28 amMichael Hodes is leaving Hodes, Pessin & Katz, the 47-lawyer Towson firm he helped start 24 years ago, to launch a new boutique firm focused on estate planning and elder law. His new firm, Michael Hodes LLC, opens May 21 with offices in Towson, Columbia, Cambridge and Salisbury. Hodes, who called himself “an entrepreneur at heart,” said he was looking to return to a smaller legal environment. He expects to grow his new firm to no more than five to seven lawyers. “This is not about growth... -
The List: Largest Alumni Associations
16 May 2012 | 11:26 amThe Triangle is home to several highly regarded institutions of higher education, including schools such as Duke University, N.C. State and UNC-Chapel Hill. A lot of companies in the area want to keep that talent here, so it’s no wonder that the Triangle is full of alumni from those and other local schools. There are also some universities located outside of the Triangle that have rather large alumni bases here, including UNC-Greensboro and East Carolina University. But just which alumni associations... -
FBI raids local vocational college
16 May 2012 | 11:06 amFastTrain was raided by the FBI Wednesday, as the Bureau is executing a search warrant. The warrant is part of a joint investigation between the FBI and the U.S. Department of Education, Action News Jax, the Business Journal’s news partner, reports. FastTrain College’s website says the school has locations in seven cities throughout the State of Florida. Check back as this is a developing story.
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Energy & the Environment News - Energy News Headlines | Bizjournals.com
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Coal plant hit by April 27 tornado reopens
16 May 2012 | 1:28 pmA coal plant hit by a tornado on April 27, 2011, has reopened. According to Fox 6, Cliffs Natural Resources Inc.'s Concord Coal Prep Plant has reopened in a new facility Allison Bonnett Memorial Drive. The company's Oak Grove Mine continued to operate during the rebuilding process, allowing 500 employees to keep their jobs. -
Duke Energy, Progress Energy settle with S.C. customer advocate
16 May 2012 | 1:14 pmContinuing efforts to speed final consideration of their $26 billion merger after federal regulators act, Duke Energy and Progress Energy have reached a settlement with South Carolina’s customer advocate designed to protect S.C. customers from additional merger costs. Concessions made by the power companies in the latest settlement and the effective portions of earlier agreements would save S.C. retail customers $1.04 to $1.08 on every 1,000 kilowatt hours used. That would be close to the equivalent... -
Oxfam America sues Securities and Exchange Commission
16 May 2012 | 1:03 pmThe Boston-based aid group Oxfam America Inc. sued the U.S. Securities Exchange Commission in federal court Wednesday, alleging the agency has been slow to draft rules requiring the disclosure of payments U.S. oil and mineral companies make to foreign governments. The regulations should have been in place more than a year ago under a provision of Dodd-Frank Wall Street Reform and Consumer Protection Act, Oxfam contends in the civil complaint. Dodd-Frank became law in July 21, 2010, and gave the... -
Production at Valero’s Memphis refinery back following outage
16 May 2012 | 12:36 pmValero Energy Corp. experienced a brief power outage at the company’s refinery in Memphis late Tuesday. However, company spokesman Bill Day said Wednesday that all main production units at Memphis are back in operation. The company experienced no material impact to production at the 195,000 barrel-per-day refinery. San Antonio-based Valero (NYSE: VLO) is the world’s largest independent refiner with 16 refineries. The company has a combined throughput capacity of refining 3 million barrels per... -
Montgomery Co. eyes lower energy tax, higher property tax rates
16 May 2012 | 11:29 amThe Montgomery County Council agreed Wednesday to raise the property tax rate while, perhaps, reducing the jurisdiction’s energy tax — a levy commercial property owners describe as “staggering.” Council President Roger Berliner, with the consent of all but one of his colleagues, proposed reducing the energy tax by 10 percent in fiscal 2013. The $11.4 million required to accomplish that was put on the “reconciliation list,” a collection of unfunded priorities that will be compete for...
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Green News - Green News Headlines | Bizjournals.com
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Oxfam America sues Securities and Exchange Commission
16 May 2012 | 1:03 pmThe Boston-based aid group Oxfam America Inc. sued the U.S. Securities Exchange Commission in federal court Wednesday, alleging the agency has been slow to draft rules requiring the disclosure of payments U.S. oil and mineral companies make to foreign governments. The regulations should have been in place more than a year ago under a provision of Dodd-Frank Wall Street Reform and Consumer Protection Act, Oxfam contends in the civil complaint. Dodd-Frank became law in July 21, 2010, and gave the... -
James offers preview of updated Kansas City tax plan
16 May 2012 | 12:59 pmWe’ve got a fresh update from Mayor Sly James’ office about what Thursday’s tax proposal will look like. Readers might remember an original $1 billion bond issuance idea that was cast out early in the budget process to pay for infrastructure improvements. Discussions with businesses, council members and others have altered how voters will get to decide portions of Kansas City’s tax structure during the next year. Here’s how it works: In August, voters will consider these questions (summaries,... -
International Paper sets lofty sustainability goals
16 May 2012 | 11:52 amInternational Paper Co. has set a group of voluntary goals that it hopes will help the company become more sustainable by 2020. The goals are outlined in the company’s 2011 Sustainability Report, and include a 15 percent improvement of energy efficiency in purchased energy use, a 20 percent total reduction in global emissions in product production and a 15 percent global increase in third-party certified fiber volume. The company also is addressing safety and water use issues. In 2011, the company... -
Residents in Mount Vernon rally to save Woodlawn Stables
16 May 2012 | 9:28 amMount Vernon-area residents hope to save the Woodlawn Stables, a longtime community fixture threatened by a road widening project, The Washington Post reports. The privately run stables are part of the Woodlawn Plantation, a 126-acre estate that was once part of President George Washington’s Mount Vernon property. It now is owned by the nonprofit National Trust for Historic Preservation. -
Potomac River named most endangered river in nation
16 May 2012 | 8:58 amThe Potomac River is the most endangered river in the U.S. for 2012, according to a new report released Tuesday. American Rivers, a D.C.-based environmental advocacy nonprofit group, says the “Potomac is threatened by agricultural and urban pollution that will only get worse if Congress rolls back national clean water protections.”
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Health Care News - Health Care News Headlines | Bizjournals.com
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Coloplast sponsors paralyzed driver hoping for Indy 500 win
16 May 2012 | 12:55 pmA paralyzed man with hopes of competing in the Indianapolis 500 is getting help from a Minneapolis-based medical device company. Coloplast North America says it has become a corporate sponsor for Michael Johnson, who was paralyzed from the mid-chest down due to spinal cord injuries during a dirt-track competition in 2005. Johnson will use a car modified to allow his hands full control of acceleration and braking. “My goal is to become the first paralyzed driver to win the Indy 500,” Johnson... -
Parkland hospital construction on schedule, board told
16 May 2012 | 12:48 pmThe $1.3 billion Parkland Memorial Hospital construction project is on schedule and on budget, the institution's governing board was told Wednesday. A 1,700-vehicle parking garage that opened Jan. 30 was completed at a cost of $24.9 million, or $1.8 million under budget, said Louis Saksen, senior vice president of new hospital construction. The former parking garage and a sky bridge across Harry Hines Boulevard have been demolished. Saksen gave a construction update and showed project photos... -
Mount Sinai Medical Center earns $3M in Q1
16 May 2012 | 12:48 pmMount Sinai Medical Center posted earnings of $3.3 million in the first quarter, down from $4.5 million in the same period a year ago, according to a report to its bond investors. However, the year-ago period included a $2.5 million contribution from the nonprofit hospital’s foundation, so its operating profits improved. Its net revenue grew to $128.6 million from $120.1 million a year ago. This was helped by a 2.5 percent increase in patient admissions and a 5.4 percent increase in emergency... -
Med-tech firm Hemosphere sold for $17M
16 May 2012 | 12:35 pmMedical-device maker Hemosphere Inc., which makes a product that aims to reduce the risk of infection in hemodialysis patients, has been sold to CryoLife Inc. for $17 million. Eden Prairie-based Hemosphere could receive an additional $4.5 million in payments if it meets certain revenue goals, Atlanta-based CryoLife (NYSE: CRY) said in a news release. Hemosphere, formerly named GraftCath, moved its headquarters to the Twin Cities from Washington state in 2004. The company went on to raise several... -
Unilens Vision boosts earnings
16 May 2012 | 12:27 pmUnilens Vision Inc. reported net income of $300,055, or 13 cents a share, for the three months ended March 31 compared to $296,792, or 13 cents a share, for the same period in 2011. Total revenue for the just-ended quarter, the third quarter of the company’s fiscal year, was $2.2 million compared to $2.2 million for the same period last year, according to a written statement. Largo-based Unilens Vision (OTCQB: UVIC) develops, licenses, manufactures, distributes and markets specialty contact...
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Human Resources News - Human Resources News Headlines | Bizjournals.com
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Merry Maids to hire 1,000 new U.S. employees
16 May 2012 | 1:29 pmMerry Maids will hire about 1,000 new employees for its 70 company-owned locations and 400 franchises throughout the U.S. The Memphis-based home cleaning franchise will host a week-long hiring event May 21-25, during which all interested candidates can apply online for jobs at jobs.merrymaids.com. Local managers have committed to follow up with almost all qualified applicants within 24 hours for telephone interviews. The jobs available are both full- and part-time and are primarily home cleaning... -
Bradenton Herald parent company announces management changes
16 May 2012 | 1:28 pmThe McClatchy Co. (NYSE: MNI) has named Elaine Lintecum vice president of finance and chief financial officer, and put Mark Zieman, vice president of operations, in charge of Florida operations. Lintecum replaces Patrick J. Talamantes, who effective Wednesday is McClatchy's president and chief executive, according to a written statement. Talamantes replaced Gary Pruitt, as previously reported. Zieman will oversee Florida publications including the Bradenton Herald, The Miami Herald and El Nuevo... -
Transport Workers Union groups split on American Airlines contract offer
16 May 2012 | 12:41 pmFive Transport Workers Union work groups ratified new contracts with American Airlines during weekend voting, but two groups rejected the airline’s final proposals. The Fort Worth, Texas-based airline and the TWU announced Tuesday that the fleet service, dispatch, maintenance control technicians, simulator technicians, and ground school and simulator pilot instructors work groups approved the deals. The agreements cover about 11,000 employees. The mechanics and stores work groups — covering... -
Paragon Technology hires former Booz Allen Hamilton exec
16 May 2012 | 12:20 pmVienna-based Paragon Technology Group Inc. has named David Gordon as vice president of its health care IT practice, Washington Technology reported. Gordon was most recently a principal of Booz Allen Hamilton Inc.'s health market business. He will be responsible for leading the division in delivering advanced health care IT solutions to government clients. -
Cisco to open Hawaii networking academy Friday at Honolulu Community College
16 May 2012 | 12:15 pmCisco Systems Inc. will open its first Hawaii Cisco Networking Academy at Honolulu Community College on Friday, a program to teach students how to design, build and manage computer networks and prepare them for information and communications technology jobs. The University of Hawaii will provide classroom space, computer lab equipment and instructors Honolulu Community College Networking Academy, while San Jose, Calif.-based Cisco (Nasdaq: CSCO) will provide free online course, teacher training...
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Insurance News - Insurance News Headlines | Bizjournals.com
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Maryland part of $45M Skechers settlement
16 May 2012 | 1:28 pmSkechers USA Inc. has reached a $45 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. The settlement is in response to claims that the company engaged in deceptive marketing of several lines of shoes including its Shape-Ups, Tone-Ups, and the Skechers Resistance Runner athletic shoes. An investigation revealed that Skechers (NYSE: SKX) engaged in deceptive and misleading practices when it unlawfully marketed its line... -
Washington state gets payout from Skechers in false advertising suit
16 May 2012 | 12:29 pmCalifornia-based Skechers USA Inc. shoe company will pay $117,138 to Washington state to settle a lawsuit accusing the company of false claims that its “rocker-bottom” shoes promote weight loss and muscle strength, Attorney General Rob McKenna said Wednesday. The company has also allocated as much as $40 million for consumer refunds nationwide. Details about obtaining a refund are available on the Federal Trade Commission’s website. “Advertising materials claimed that consumers may ‘get... -
Hawaii Medical Service Association reports $12.8M Q1 profit
16 May 2012 | 12:07 pmThe Hawaii Medical Service Association reported a first-quarter profit of $12.8 million, an increase of 53.8 percent from $8.4 million during the first quarter of 2011 and the highest gain since 2004. The Honolulu Star-Advertiser reports HMSA attributed the gain, in part, to the Hawaii Employer-Union Health Benefit Trust Fund's Jan. 1 switch from being self-funded to a fully-insured plan under HMSA. The newspaper reports HMSA's revenue rose 18.4 percent to $614.5 million, compared to $519 million... -
OSHA cites Saratoga Home Depot, proposes $51,000 in fines
16 May 2012 | 10:47 amHome Depot faces $51,480 in fines after its store in Saratoga Springs, New York, was cited by federal regulators for “repeat and serious” workplace violations. OSHA’s inspection found that the required working space around eight electrical equipment panels was used for storage, restricting employees’ access to circuit breakers. Because the company had been cited by OSHA in 2010 and 2012 for similar hazards at New Hampshire and New Jersey stores, respectively, OSHA issued a citation with... -
ED GOLDMAN: Lipitor and more
16 May 2012 | 10:45 amQuibbles and Obits — An Associated Press story last Wednesday about the probable causes of painter Thomas Kinkade’s death — alcohol and drugs — might have shown that the venerable news service endorses a belief in the afterlife. “Before his death,” the article stated, “the 54-year-old Kinkade produced sentimental scenes of country gardens and pastoral landscapes that he sold in a nationwide chain of galleries.” Note the use of the phrase ”before his death.” Is the AP implying...
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Legal Services News - Legal Services News Headlines | Bizjournals.com
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Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
Skechers reaches $40 million settlement
16 May 2012 | 1:25 pmFlorida has joined 43 other states, the District of Columbia and the Federal Trade Commission in reaching a $40 million settlement with Skechers USA Inc. over allegations of deceptive advertising involving the company’s rocker-bottom shoe products, according to a statement from Attorney General Pam Bondi's office. Up to $40 million will be paid back to consumers who purchased the shoes. The company previously said it would pay a one-time settlement of $45 million plus $5 million in attorneys'... -
NHL takes step to negotiate new labor deal
16 May 2012 | 1:25 pmThe National Hockey League has provided the NHL Player’s Association with notice that it wants to terminate and/or modify the collective bargaining agreement, according to the SportsBusiness Journal. The CBA deal expires Sept. 15, 2012. An NHLPA spokesman confirmed to SBJ reporter Liz Mullen that the NHL sent the notice, as required by CBA, that it wants to change or end deal. The current pact, which included a significant cut in salaries to players, was reached in 2005 after the NHL cancelled... -
Were Skechers' shoe claims too sketchy?
16 May 2012 | 1:11 pmFlorida and 43 other states have reached a $40 million settlement regarding Skechers rocker-bottom shoes, which had a big marketing push a few years ago. A federal lawsuit alleges Skechers USA (NYSE: SKX) lacked adequate support when it claimed the rocker-bottom shoe products caused consumers to lose weight, burn calories, improve circulation, fight cellulite, and firm, tone or strengthen thigh, buttock, and back muscles. The shoes were sold under the names Shape-Ups, Tone-Ups and the Skechers Resistance... -
Skechers settles for $45M with feds, states on claims
16 May 2012 | 12:51 pmNew York’s Attorney General Eric Schneiderman sent a strong message to companies that advertise their products — be truthful, or be prepared to pay up. Schneiderman announced Wednesday a $45 million settlement with Skechers USA Inc., makers of popular athletic footwear. The settlement is in response to claims that the company engaged in deceptive marketing of several lines of shoes including its Shape-Ups, Tone-Ups, and the Skechers Resistance Runner athletic shoes. An investigation revealed...
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Logistics & Transportation News - Logistics & Transportation News Headlines | Bizjournals.com
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Boeing prepares for U.S. defense spending cuts
16 May 2012 | 10:27 amBoeing Co., which has operations from its Defense, Space and Security division throughout Southern California, said it is preparing for the "distinct possibility" that U.S. defense spending will be cut by a total of $1 trillion over the next decade, the Chicago Tribune reports. The defense division has laid off about 8,000 of 60,000 jobs over the past 18 months, but most of those positions have been shifted to other departments inside the company, such as the commercial sector. If $500 million... -
Airport system speeds up security badge processing
16 May 2012 | 9:49 amThe Sacramento County Airport System has launched a new service to make security badge processing faster and more efficient for airport employees and contractors at Sacramento International Airport, Melanie Turner writes. ... -
Delta, pilots union reach tentative agreement 7 months early
16 May 2012 | 9:29 amDelta Air Lines Inc. and its pilots union have reached a tentative agreement on a contract seven months before the existing accord is due for amendment, according to Bloomberg. The action is notable in an industry where negations often drag on for years, Bloomberg notes. Terms of the deal aren’t being discussed, and the agreement must be approved the union’s executive committee and then by a majority of the 10,850 rank-and-file pilots before it takes effect. Delta is Sacramento International... -
Residents in Mount Vernon rally to save Woodlawn Stables
16 May 2012 | 9:28 amMount Vernon-area residents hope to save the Woodlawn Stables, a longtime community fixture threatened by a road widening project, The Washington Post reports. The privately run stables are part of the Woodlawn Plantation, a 126-acre estate that was once part of President George Washington’s Mount Vernon property. It now is owned by the nonprofit National Trust for Historic Preservation. -
Audit reveals lapses at Metropolitan Washington Airports Authority
16 May 2012 | 9:26 amThe Metropolitan Washington Airports Authority’s management, transparency, procurement and travel procedures are fraught with weaknesses, its accountability is limited and its ethics policies are vague, the U.S. Department of Transportation’s Inspector General said Tuesday. MWAA, which employs some 1,400 people in its management of Reagan National and Dulles International airports and the Silver Line project, is independent of the federal government and not subject to federal or state laws governing...
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Manufacturing News - Manufacturing News Headlines | Bizjournals.com
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Raytheon gets $314M missile contract from Navy
16 May 2012 | 1:26 pmRaytheon Co. has received a $314 million contract from the U.S. Navy for production of the Standard Missile-6. Close to half the work for the contract will be done in Tucson. The missile is an extended-range, anti-aircraft missile used aboard ships. The contract calls for an upgraded version of the missile that features improved Raytheon guidance. -
Starpointe lands German manufacturer
16 May 2012 | 12:29 pmThe development team of the Starpointe Business Park near Burgettstown, Washington County, has landed a major German door manufacturer, announcing Wednesday that it will sell 10.85 acres of land at the park to Hormann Flexon, LLC. A new facility is expected to be built and open in late summer 2013 and employ about 100 people to start. Part of the Hormann Group, which employs more than 6,000 employees worldwide and had sales of more than $1.2 billion sales last year, Hormann Flexon plans to build... -
Unilens Vision boosts earnings
16 May 2012 | 12:27 pmUnilens Vision Inc. reported net income of $300,055, or 13 cents a share, for the three months ended March 31 compared to $296,792, or 13 cents a share, for the same period in 2011. Total revenue for the just-ended quarter, the third quarter of the company’s fiscal year, was $2.2 million compared to $2.2 million for the same period last year, according to a written statement. Largo-based Unilens Vision (OTCQB: UVIC) develops, licenses, manufactures, distributes and markets specialty contact... -
Teamster labor contracts to stay intact with Hostess
16 May 2012 | 12:23 pmThe 35 Houston-area Hostess Brands Inc. employees represented by Teamsters still have a labor contract with the brand, according to a recent ruling from U.S. Bankruptcy Judge Robert Drain. The Dallas Business Journal, an affiliated publication, reports that although Hostess moved to reject all International Brotherhood of Teamsters labor contracts due to its bankruptcy, Drain ruled May 14 that the contracts had to stay intact. Irving-based Hostess, the snack foods producer, said it still plans... -
Appropriators want $5.3B more for Defense weapons buys
16 May 2012 | 12:20 pmIn a new report, the House Appropriations defense subcommittee asks for $5.3 billion more in the Department of Defense's acquisition accounts for 2013, Federal Times reported. The money would be used for items such as 17 more Alenia Aermacchi C-27J cargo planes, installation of a back-up oxygen system on the Lockheed Martin Corp. F-22A Raptor, additional Raytheon Patriot missiles and upgrades to the BAE Systems Bradley Fighting Vehicle.
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Media & Marketing News - Media & Marketing News Headlines | Bizjournals.com
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Bradenton Herald parent company announces management changes
16 May 2012 | 1:28 pmThe McClatchy Co. (NYSE: MNI) has named Elaine Lintecum vice president of finance and chief financial officer, and put Mark Zieman, vice president of operations, in charge of Florida operations. Lintecum replaces Patrick J. Talamantes, who effective Wednesday is McClatchy's president and chief executive, according to a written statement. Talamantes replaced Gary Pruitt, as previously reported. Zieman will oversee Florida publications including the Bradenton Herald, The Miami Herald and El Nuevo... -
Social Madness nomination period closes out, what's next?
16 May 2012 | 1:28 pmThe nomination period for Social Madness is officially over. Tuesday, May 15 was the final day companies could sign up for the competition that gives them a chance to flex their social media muscles locally and potentially nationally across 40 markets. The final submitted nominations are nothing to scoff at though, as some heavy hitters in Web.com and Winn-Dixie were some of the biggest names to sign up in the last few days. As the nomination period is over, most of you are probably wondering... -
Washington state gets payout from Skechers in false advertising suit
16 May 2012 | 12:29 pmCalifornia-based Skechers USA Inc. shoe company will pay $117,138 to Washington state to settle a lawsuit accusing the company of false claims that its “rocker-bottom” shoes promote weight loss and muscle strength, Attorney General Rob McKenna said Wednesday. The company has also allocated as much as $40 million for consumer refunds nationwide. Details about obtaining a refund are available on the Federal Trade Commission’s website. “Advertising materials claimed that consumers may ‘get... -
Drive-in summer series, Webby Awards, bridal blog and FedEx funds
16 May 2012 | 12:25 pmStarry night The Blue Starlite, producer of the Mini Urban Drive-in series, is depositing its drive-in at Austin Studios to partner with the Austin Film Society. Starting June 4, AFS will curate a summer series mix of indie films featuring work by up-and-coming and established Austin filmmakers along with film classics. The Blue Starlite, which bills itself as the world’s first Mini Urban Drive-in, is moving from its 1001 E. Sixth St. location after its final spring season ends on May 27. The... -
Curt Schilling's 38 Studios missed $1.1M loan payment (report)
16 May 2012 | 10:38 amVideo game developer 38 Studios failed to make a required $1.13 million payment to the R.I. Economic Development Corporation (RIEDC), causing alarm at the Rhode Island State House about the company’s finances, House Speaker Gordon Fox confirmed late Tuesday, according to a WPRI report. The report comes just one day after Rhode Island officials met with company executives in what Gov. Lincoln Chafee described as an effort to keep 38 Studios solvent. 38 Studios in February launched its first title,...
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Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com
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Bank of America hiking relocation aid for troubled homeowners
16 May 2012 | 1:29 pmBank of America Corp. has launched a nationwide program that increases relocation payments to delinquent mortgage customers who complete qualifying short sales, Reuters reports. The bank says the program offers payments ranging from $2,500 to $30,000 to help homeowners move out of their homes. To qualify, borrowers must work out a pre-approved sale price with the bank, start the short sale before the end of the year and complete it by September 2013. BofA customers have completed 200,000 short... -
Wells Fargo, Hammond Residential form joint venture
16 May 2012 | 12:56 pmWells Fargo Bank, a provider of residential mortgages, and Hammond Residential Real Estate, have signed a deal to offer mortgages for Hammond’s customers. The joint venture, Massachusetts Residential Mortgage, said it will provide consumers with home loans and services through Wells Fargo Home Mortgage, a division of Wells Fargo Bank. Terms of the agreement were not disclosed. Established in 1991 by Saul B. Cohen and Joseph Hare, Hammond reported closed sales volume in 2011 exceeding $1 billion.... -
San Jose cuts fees for downtown high-rise rental developers
16 May 2012 | 12:30 pmThe San Jose City Council on Tuesday approved a set of temporary incentives to encourage high-rise residential tower development in the city, particularly in downtown. The incentives include: - A guarantee that application reviews will be no more than 120 days. - A 50 percent reduction of fees in lieu of adding park areas to developments. - A 50 percent reduction of construction-related taxes. - Elimination of the requirement for systems in high-rises that contain air to help firefighters control... -
Miami ranks 8th in search for homes
16 May 2012 | 12:29 pmMiami ranks eighth in the the Homes.com quarterly ‘State of the Housing Market’ report’s list of top searched cities by those looking to purchase a home. Miami was the object of 133,870 searches on the website in the first quarter compared with more than 200,000 for No. 1 ranked Orlando. The report is good news for a South Florida market that has shows signs of upticks amid lingering issues involving foreclosures and prices that are well below their pre-recession peaks. The quarterly report,... -
Dayton Habitat building another local house
16 May 2012 | 12:20 pmDayton Habitat for Humanity will dig in this week on a new house for a local family. The organization will begin at 11 a.m. Friday to construct a home for Peggie DeVoise and her five children at 1204 Clement Ave. The project has been made possible by contributions from several local organizations. To fund the build, Dayton Habitat worked with GE Capital, the MetLife Foundation Volunteer Project Fund, the city of Dayton through the Neighborhood Stabilization Program of the U.S. Department of Housing...
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Retailing & Restaurants News - Retailing & Restaurants News Headlines | Bizjournals.com
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Slideshow: Sheraton Dallas North completes renovation
16 May 2012 | 12:42 pmThe Sheraton Dallas North Hotel by the Galleria has completed a $17 million renovation. Dallas-based Michelle Meredith & Associates designed the interior, which touched the reception area, lobby, common areas, restaurant, ballroom and health club. The renovation is part of an effort to enhance Sheraton hotels. The Sheraton Dallas Hotel downtown is working on a $12 million renovation of the the 507 guests rooms in the hotel’s South Tower. -
Skechers agrees to $40M settlement tied to Shape-Ups claims
16 May 2012 | 12:40 pmSkechers USA Inc. has reached an up to $40 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. Wisconsin Attorney General J.B. Van Hollen said his office has joined 43 other states, the District of Columbia and the Federal Trade Commission in a settlement with Skechers to resolve the allegations, which also relate to advertising claims about Tone-Ups and Resistance Runner shoes, which likewise have rounded soles. The... -
Hawaii's Tanna Dang wins National Retail Federation video contest
16 May 2012 | 12:27 pmHawaii boutique owner Tanna Dang was named the winner of the National Retail Federation's "This is Retail" video contest on Wednesday. Dang, co-owner of the Eden in Love boutique at Ward Warehouse in Honolulu, was awarded the top prize of $25,000 by Terry Lundren, chairman, CEO and president of Macy's (NYSE: M) and chairman of the NRF's board of directors, and NRF President and CEO Matthew Shay at the organization's Washington Leadership Conference. Second place when to Kim Williams of The Polka... -
Skechers agrees to $40M settlement tied to Shape-Ups claims
16 May 2012 | 12:19 pmSkechers USA Inc. has reached what could be a $40 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. Kansas Attorney General Derek Schmidt said his office had filed a settlement with Skechers to resolve the allegations, which also relate to advertising claims about Tone-Ups and Resistance Runner shoes, which likewise have rounded soles. The settlement, filed Wednesday in Shawnee County District Court, keeps Skechers... -
My Fit Foods opens another Austin store
16 May 2012 | 11:46 amMy Fit Foods is opening its fifth Austin store at I-35 and Parmer Lane Friday. The new location at the former Bennigan’s site will also serve as a second kitchen for the growing Houston-based health food retailer. The 6,441-square-foot store is part of My Fit Foods’ nationwide expansion plan, which also includes convenient grocery store kiosks. My Fit Foods was founded by Mario Mendias in 2006 and has locations throughout Texas, Arizona, California and Idaho. Get an early start on the day’s...
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Sports Business News - Sports Business News Headlines | Bizjournals.com
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Florida Gaming generates $14M in revenue after casino opens
16 May 2012 | 12:18 pmFlorida Gaming Corp. boosted its first quarter revenue to $14.4 million following the casino opening at its Miami Jai-Alai facility, but the company continued losing money and warned that it was in default on its main credit line. The Miami-based company (OTCBB: FGMG) lost $3.9 million on revenue of $14.4 million in the first quarter, compared with a $1.7 million loss on revenue of $2.9 million in the same quarter a year ago. The casino at Miami Jai-Alai, featuring 1,000 Las Vegas-style slot machines,... -
Premiere Global Sports buys TMP Sports
16 May 2012 | 11:08 amPremiere Global Sports has acquired TMP Sports, the sports division of travel agency Travel Management Partners. Illinois-based Premiere, which has an office in Cary, has its own travel division called Premiere Sports Travel. TMP will be integrated into Premiere, though the two offer very different services. Premiere tailors its travel packages toward fans who want to attend major sporting events like the Kentucky Derby or a college football bowl game. TMP, by contrast, works out travel arrangements... -
Tom Hicks company joins Appleton Papers in $675M deal
16 May 2012 | 10:26 amDallas-based Hicks Acquisition Co. II Inc. (Nasdaq: HKAC) and Appleton Papers Inc. announced Wednesday that the firms have reached a $675 million deal, giving Hicks Acquisition Co. an undisclosed amount of equity interest in Appleton. Appleton — a manufacturer of specialty coated paper products and a provider of encapsulation applications — will change its corporate name to Appvion. The management team will remain the same. Hicks Acquisition Co. II is a special-purpose acquisition firm founded... -
Hoar Construction lands Kentucky contract
16 May 2012 | 10:23 amHoar Construction LLC and Paladin Construction Group Inc. have been awarded the contract for a project at Kentucky's Fort Campbell. Birmingham-based Hoar and Paladin will build a 64,000-square-foot physical fitness facility and a 5,900-square-foot jogging track as part of a mentor/protégé joint venture agreement. In addition to those facilities, the project includes construction of a multipurpose athletic field, 2 softball fields, an indoor climbing wall, and surface parking for 140 vehicles. The... -
Andretti, local investors get OK from city to operate Grand Prix
16 May 2012 | 9:51 amThe city’s spending board on Wednesday approved a contract for a new group to operate the Baltimore Grand Prix — the second group tapped in the last three months to organize the downtown street race. The Board of Estimates voted by a 4-1 margin to approve a contract with Race On LLC and Andretti Sports Marketing to run the Baltimore Grand Prix for the next five years. Andretti Sports Marketing, an Indianapolis racing group headed by IndyCar racing champion Michael Andretti, will provide a “turn...
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Technology News - Technology News Headlines | Bizjournals.com
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Albany-area event focuses on startups
16 May 2012 | 1:22 pmMore than 100 people are expected to attend Local Lift, an new event geared at helping entrepreneurs and small startups grow their businesses. The event, scheduled for May 17 at Hudson Valley Community College’s TEC-SMART campus in Malta, runs from 8:30 a.m. to 1 p.m. Michael Franchell, one of the presenters at the event, described Local Lift as “an amorphous" group of volunteers who want to promote local business.” Topics to be discussed include making the web local, finding local resources... -
It's like the ATM can walk and chew gum
16 May 2012 | 1:03 pmIf you like ATMs that email receipts and take deposited checks without the need for an envelope, here's a story for you. Fifth Third Bank says it will become the first super-regional bank to offer an ATM that allows customers to deposit checks and bills at the same time, the Cincinnati Business Courier reports. The traditional way is depositing checks and cash separately during transactions. The new Fifth Third machine can accept cash and checks together, a news release said. The NCR Corp. (NYSE:... -
Coloplast sponsors paralyzed driver hoping for Indy 500 win
16 May 2012 | 12:55 pmA paralyzed man with hopes of competing in the Indianapolis 500 is getting help from a Minneapolis-based medical device company. Coloplast North America says it has become a corporate sponsor for Michael Johnson, who was paralyzed from the mid-chest down due to spinal cord injuries during a dirt-track competition in 2005. Johnson will use a car modified to allow his hands full control of acceleration and braking. “My goal is to become the first paralyzed driver to win the Indy 500,” Johnson... -
Tripwire acquisition nets $500K for Oregon charities
16 May 2012 | 12:45 pmIt has been just over a year since Tripwire Inc. was acquired by private equity firm Thoma Bravo LLC for an undisclosed amount. The deal, however, is now paying off for Oregon charities thanks to a long-running partnership between Tripwire and the Oregon Entrepreneurs Network. Prior to the acquisition, Tripwire had granted an equity interest in the company to the OEN's Entrepreneurs Foundation of the Northwest, which helps companies establish and execute philanthropic endeavors. When Tripwire was... -
Mocavo lands $4M from Foundry Group
16 May 2012 | 12:42 pmMocavo, an online genealogy research service, has landed a $4 million venture capital investment from the Foundry Group. Both companies are based in Boulder. Mocavo is a subscription service that helps users find ancestors in its online genealogy database, which it calls the world’s largest. Mocavo’s technology also automatically trolls the web on behalf of users and tries to flesh out family trees from public troves of genealogical information and user-submitted sources as well as from public...
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Travel Business News - Travel Business News Headlines | Bizjournals.com
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Statistics show Florida tourism continues to rebound
16 May 2012 | 1:21 pmThe 23.4 million visitors that came to Florida in the first quarter of 2012 represented an increase of 2.4 percent over last year's first quarter, Visit Florida, the state's tourism marketing arm, reported on Wednesday. Direct travel-related employment in Florida rose 1.9 percent to 1.03 million, adding 19,200 jobs over the past year and representing the largest employment total since first quarter 2008, the agency said. “On the heels of a record year for the Florida tourism industry in 2011,... -
Frontier Airlines grounding connection between Columbus and Milwaukee
16 May 2012 | 1:04 pmFrontier Airlines Inc. is suspending flights from Columbus to Milwaukee on June 1 as part of a larger exit from its regional business at General Mitchell International Airport. The airline’s two daily flights from Port Columbus International Airport to Milwaukee are the only flights it services out of Columbus, spokeswoman Lindsey Carpenter said. Frontier also is cutting service to Milwaukee from Indianapolis; Nashville, Tenn.; Omaha, Neb.; Pittsburgh and New York, she said. The company is reallocating... -
AAA: One in three Florida residents plan to visit a theme park this summer
16 May 2012 | 12:58 pmThere’s good news for Central Florida theme parks this summer, as one in three residents in Florida as well as Georgia and Tennessee plan to visit a theme park this summer, according to the AAA Consumer Pulse survey launched in April. Despite the record-breaking rise in gas prices during the first half of the year, which tightened summer travel budgets for many Americans, nearly 34 percent of Florida, Georgia and Tennessee residents still plan to travel to theme parks like Walt Disney World, Universal... -
Slideshow: Sheraton Dallas North completes renovation
16 May 2012 | 12:42 pmThe Sheraton Dallas North Hotel by the Galleria has completed a $17 million renovation. Dallas-based Michelle Meredith & Associates designed the interior, which touched the reception area, lobby, common areas, restaurant, ballroom and health club. The renovation is part of an effort to enhance Sheraton hotels. The Sheraton Dallas Hotel downtown is working on a $12 million renovation of the the 507 guests rooms in the hotel’s South Tower. -
Transport Workers Union groups split on American Airlines contract offer
16 May 2012 | 12:41 pmFive Transport Workers Union work groups ratified new contracts with American Airlines during weekend voting, but two groups rejected the airline’s final proposals. The Fort Worth, Texas-based airline and the TWU announced Tuesday that the fleet service, dispatch, maintenance control technicians, simulator technicians, and ground school and simulator pilot instructors work groups approved the deals. The agreements cover about 11,000 employees. The mechanics and stores work groups — covering...
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Albany Business News - Local Albany News | Business Review of Albany
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Albany-area event focuses on startups
16 May 2012 | 1:22 pmMore than 100 people are expected to attend Local Lift, an new event geared at helping entrepreneurs and small startups grow their businesses. The event, scheduled for May 17 at Hudson Valley Community College’s TEC-SMART campus in Malta, runs from 8:30 a.m. to 1 p.m. Michael Franchell, one of the presenters at the event, described Local Lift as “an amorphous" group of volunteers who want to promote local business.” Topics to be discussed include, making the web local, finding local resources... -
State halts payments to NYRA, threatening Saratoga upgrades
16 May 2012 | 1:04 pmState officials have frozen critical funding for The New York Racing Association Inc., money used for operations and capital improvements at Saratoga Race Course. It's just the latest blow for NYRA, which is in crisis amid a betting scandal that has already led to the ouster of its top two officials. NYRA's signature Saratoga meet is two months away. The state Division of the Lottery halted NYRA's proceeds from slot machines located in Queens, effective May 15. The payments topped $4 million in... -
Assembly approves minimum wage hike
16 May 2012 | 12:39 pmIn a party-line vote, Democrats in the state Assembly approved a bill Tuesday that raises New York's minimum wage 17 percent next year and automatically every year after that. Most business lobbies have attacked the bill as a "job-killer," saying it would force small businesses to stop hiring because they would have to spend more money on wages. Still, a key retail lobby and some other executives have either come out in favor of the increase, or at least said they are open to negotiation. The... -
Schenectady, Amsterdam among first in NY getting “land bank"
16 May 2012 | 11:19 amA joint application from Schenectady County, the city of Schenectady, and the city of Amsterdam to create one of New York’s first land banks is expected to be approved by a state board. The board of the Empire State Development Corp. is scheduled to approve the application at its May 17 meeting, according to an agenda posted online. Land banks have the power to buy, hold, manage and develop foreclosed, vacant and abandoned properties. Supporters say they can move faster than the usual municipal... -
OSHA cites Saratoga Home Depot, proposes $51,000 in fines
16 May 2012 | 10:47 amHome Depot faces $51,480 in fines after its store in Saratoga Springs, New York, was cited by federal regulators for “repeat and serious” workplace violations. OSHA’s inspection found that the required working space around eight electrical equipment panels was used for storage, restricting employees’ access to circuit breakers. Because the company had been cited by OSHA in 2010 and 2012 for similar hazards at New Hampshire and New Jersey stores, respectively, OSHA issued a citation with...
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Albuquerque Business News - Local Albuquerque News | New Mexico Business Weekly
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Hewlett-Packard loses $190M lawsuit against IRS
16 May 2012 | 11:33 amHewlett-Packard Co. has lost a lawsuit it filed against the U.S. Internal Revenue Service seeking more than $190 million in tax refunds. According to a Reuters report, Judge Joseph Goeke of United States Tax Court in Washington, D.C. ruled against the technology giant, which filed the lawsuit in 2009. The tax refunds sought by HP were tied to a Dutch tax shelter, which was part of a strategy involving trading derivatives with the aim of generating capital losses and foreign tax credits, which could... -
Apple order report costs Samsung $10B in market value
16 May 2012 | 10:53 amA report that Apple Inc. has placed large chip orders with Elpida has sent shares of Samsung Electronics Co. sliding 6.2 percent, amounting to $10 billion of lost market value. Reuters reports that Elpida, a troubled Japanese chip maker and rival of Samsung, has received an order from Apple to provide mobile dynamic random access memory (DRAM), securing about half the company's total chip production. Related: Smartphone chips in high demand, but production faces hurdles According to Reuters, the... -
GreenBuilt Tour features eco-friendly homes
15 May 2012 | 6:34 pmThe 13th annual GreenBuilt Tour is slated for June 8-10 and will make stops in Algodones, Taos, Albuquerque and Santa Fe. There are 21 homes participating in the tour sponsored by The U.S. Green Building Council New Mexico Chapter. The event kicks off June 8 at the Algodones home of Roger and Marlane Barton, who built the first modular home to be featured in the tour. The catered event includes music by Claystone. The entry fee for the tour is $2 per person per home. Visitors can pay at the door... -
Sikorsky affiliate to supply Eclipse, but no new investment
15 May 2012 | 3:53 pmSikorsky Aircraft Corp. has no plans to invest more money in Albuquerque’s Eclipse Aerospace Inc., but one of its subsidiaries will supply parts to restart production of the Eclipse very light jet. Sikorsky, a subsidiary of Connecticut-based United Technologies Corp. (UTC), invested in Eclipse in February 2011, helping the company to upgrade its fleet of 260 Eclipse 500 jets that were produced by the former Eclipse Aviation Corp. before it went bankrupt. Eclipse Aerospace bought the Eclipse assets... -
Smartphone chips in high demand, but production faces hurdles
15 May 2012 | 3:45 pmSmartphone chips are becoming more technologically advanced and the demand for smartphones is growing, but chip manufacturers are having a hard time keeping up, reports Bloomberg. Qualcomm Inc. is the largest chip manufacturer for phones, and it is the main supplier of the Long Term Evolution (LTE) chip, which allows for faster Internet connections. The demand for LTE chips will reach at least 30 million this year, but Qualcomm is able to supply only about half that number, said Strategy Analytics...
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Atlanta Business News - Local Atlanta News | Atlanta Business Chronicle
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Data on failures in Lockheed’s F-22 'sparse and erratic,' analyst says
16 May 2012 | 1:01 pmThe decision by the Pentagon to limit flight durations for Lockheed Martin Corp.’s Marietta, Ga.-built F-22 Raptor fighter aircraft won’t have any immediate impact on the company’s bottom line — even if it is something of a publicity nightmare in the short term. Certainly, Bethesda, Md.-based Lockheed (NYSE: LMT) could not have been happy about the Tuesday order by Secretary of Defense Leon Panetta to limit F-22 flights to areas near potential landing locations and accelerate installation... -
Atlanta, Georgia among most financially stressed in Q1
16 May 2012 | 12:18 pmFelt financially stressed out at the start of 2102? If you lived in metro Atlanta or anywhere in Georgia in the first quarter, you were not alone. Georgia had the second-highest financial distress level in the United States in the first three months of the year, while Atlanta had the fourth-highest, according to the new CredAbility Consumer Distress Index. Atlanta-based credit counseling agency CredAbility reported Georgia improved to a score of 64 in the index and Atlanta bettered to a score of... -
OSHA cites Saratoga Home Depot, proposes $51,000 in fines
16 May 2012 | 11:10 amThe Home Depot Inc. faces $51,480 in fines after its store in Saratoga Springs, N.Y., was cited by federal regulators for “repeat and serious” workplace violations. OSHA’s inspection found the required working space around eight electrical equipment panels was used for storage, restricting employees’ access to circuit breakers. Because the company was cited by OSHA in 2010 and 2012 for similar hazards at New Hampshire and New Jersey stores, respectively, OSHA issued a citation with $44,000... -
AGCO building distribution center in Johannesburg
16 May 2012 | 11:06 amAGCO Corp. on Wednesday began development of its African Master Parts Distribution Centre in Johannesburg, South Africa. The Duluth, Ga.-based agricultural equipment maker said the facility is close to the O.R. Tambo International Airport in Johannesburg. Once opened by the end of the year, it will stock a range of up to 40,000 parts to better order response times and machine up time for AGCO’s African customers. “With 11 percent of the world’s arable land, much of which is uncultivated,... -
Quality Systems buys The Poseidon Group
16 May 2012 | 10:51 amQuality Systems Inc. bought Atlanta-based emergency department documentation and web-based electronic medical record provider The Poseidon Group Inc. Financial terms were not disclosed. Irvine, Calif.-based Quality Systems (NASDAQ: QSII) said the acquisition will expand its NextGen Inpatient Solutions product. Poseidon Group Chief Operating Officer Carr Scott and Chief Technology Officer W. Kyle Taylor will take senior roles within NextGen Healthcare. “With the integration of Poseidon’s EDIS...
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Austin Business News - Local Austin News | Austin Business Journal
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Austin No. 18 for share of federal government jobs
16 May 2012 | 1:13 pmThe Austin market relies on the government sector for more than 20 percent of its nonfarm jobs, a report shows. An analysis of U.S. Bureau of Labor Statistics from The Business Journals’ On Numbers found that 21.06 percent of the local workforce comes from government jobs. Austin ranks No. 18 among the largest 100 markets. Additionally, a new On Numbers analysis of BLS data also found that federal agencies, departments and services account for a mere 7.53 percent of Austin's government jobs,... -
Drive-in summer series, Webby Awards, bridal blog and FedEx funds
16 May 2012 | 12:25 pmStarry night The Blue Starlite, producer of the Mini Urban Drive-in series, is depositing its drive-in at Austin Studios to partner with the Austin Film Society. Starting June 4, AFS will curate a summer series mix of indie films featuring work by up-and-coming and established Austin filmmakers along with film classics. The Blue Starlite, which bills itself as the world’s first Mini Urban Drive-in, is moving from its 1001 E. Sixth St. location after its final spring season ends on May 27. The... -
My Fit Foods opens another Austin store
16 May 2012 | 11:46 amMy Fit Foods is opening its fifth Austin store at I-35 and Parmer Lane Friday. The new location at the former Bennigan’s site will also serve as a second kitchen for the growing Houston-based health food retailer. The 6,441-square-foot store is part of My Fit Foods’ nationwide expansion plan, which also includes convenient grocery store kiosks. My Fit Foods was founded by Mario Mendias in 2006 and has locations throughout Texas, Arizona, California and Idaho. Get an early start on the day’s... -
Austin real estate round-up: May 16
16 May 2012 | 11:28 amHere is a round-up listing of recent deals and announcements in the Austin real estate market since last Wednesday: White Corp. and MediaTech Institute leased the 20,340 square feet office and retail building at 4719 South Congress Ave. Carter Bailey and Martin Turner of Retail Solutions represented the landlord, and Bruce Hecht of Swearingen Realty Group in Dallas represented the tenant. Tech Fab Ready Solutions leased 11,376 square feet at Southeast Commercial, 4120 Commercial Center Drive. Mitch... -
Mass Relevance gets $3.3M from investors
16 May 2012 | 11:22 amTwitter curator Mass Relevance Inc. has completed a $3.3 million Series A round of funding. Officials at the Austin-based company said Wednesday investors included Austin Ventures, Massachusetts-based Battery Ventures, California-based Floodgate Fund LP, California-based Allegro Venture Partners and New York-based Metamorphic Ventures. Mass Relevance, which launched in 2010, manages Twitter messages for clients. The company employed 10 workers last year. In March 2011, it reported to the U.S....
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Baltimore Business News - Local Baltimore News | Baltimore Business Journal
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Maryland part of $45M Skechers settlement
16 May 2012 | 1:28 pmSkechers USA Inc. has reached a $45 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. The settlement is in response to claims that the company engaged in deceptive marketing of several lines of shoes including its Shape-Ups, Tone-Ups, and the Skechers Resistance Runner athletic shoes. An investigation revealed that Skechers (NYSE: SKX) engaged in deceptive and misleading practices when it unlawfully marketed its line... -
Michael Hodes starts new boutique law firm
16 May 2012 | 11:28 amMichael Hodes is leaving Hodes, Pessin & Katz, the 47-lawyer Towson firm he helped start 24 years ago, to launch a new boutique firm focused on estate planning and elder law. His new firm, Michael Hodes LLC, opens May 21 with offices in Towson, Columbia, Cambridge and Salisbury. Hodes, who called himself “an entrepreneur at heart,” said he was looking to return to a smaller legal environment. He expects to grow his new firm to no more than five to seven lawyers. “This is not about growth... -
Legg Mason plans to reduce debt, buyback shares
16 May 2012 | 10:51 amLegg Mason Inc. stock soared Wednesday after the money manager unveiled a refinancing plan to reduce its outstanding debt and buy back $1 billion in shares. Baltimore-based Legg Mason said it expects use $250 million of credit and cash on hand to repurchase $1.25 billion in senior debt held by a fund managed by Kohlberg Kravis Roberts & Co. L.P. The move is expected to trim Legg’s outstanding debt. As part of the deal, Legg (NYSE: LM) will be issued warrants to purchase of 14.2 million shares... -
Maryland Realtors encouraged by rising prices
16 May 2012 | 10:00 amMaryland real estate agents and other professional in the business are feeling better about the housing market after learning that the average sale price of an existing home in Maryland rose 11 percent last month, The Gazette reports. The average price climbed to $298,000, the highest monthly level in almost two years, according to figures released Monday by the Maryland Association of Realtors. -
Baltimore housing's decade of renovations
16 May 2012 | 9:52 amMore Baltimore homes were getting major work done to them in 2010 than 10 years earlier, but not as many as before the recession, the Baltimore Sun reports. The Sun’s Jamie Smith Hopkins cites a useful online source: Vital Signs, created by the Baltimore Neighborhood Indicators Alliance at the University of Baltimore. Other statistics available at the site include crime and employment rates, broken down by neighborhood.
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Birmingham Business News - Local Birmingham News | Birmingham Business Journal
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Coal plant hit by April 27 tornado reopens
16 May 2012 | 1:28 pmA coal plant hit by a tornado on April 27, 2011, has reopened. According to Fox 6, Cliffs Natural Resources Inc.'s Concord Coal Prep Plant has reopened in a new facility Allison Bonnett Memorial Drive. The company's Oak Grove Mine continued to operate during the rebuilding process, allowing 500 employees to keep their jobs. -
Governor signs beer bottle bill into law
16 May 2012 | 11:41 amGov. Robert Bentley has signed into a law a bill that will increase the maximum size for beer bottles sold in Alabama. The Gourmet Bottle Bill, which was passed last week by the Alabama House, will lift the maximum bottle size to 25.4 ounces from the current limit of 16 ounces. That would allow sales of the 22-ounce, 750-milliliter bottles used by many craft breweries. Industry experts say the bill will open up the state to more business from craft brewers and provide a boost to Birmingham's growing... -
Birmingham ranks 59th for share of federal government jobs
16 May 2012 | 11:31 amThe federal government’s share of Birmingham’s government jobs ranks in the bottom half of the nation's 100 largest metro areas, according to a new report from On Numbers. The list ranked metropolitan markets by their percentage of federal government employees out of all government employees, which includes state and local governments. The Birmingham metropolitan area, which consists of seven counties and dozens of towns and cities, ranks 59th in the report and holds 80,900 government jobs,... -
Hoar Construction lands Kentucky contract
16 May 2012 | 10:23 amHoar Construction LLC and Paladin Construction Group Inc. have been awarded the contract for a project at Kentucky's Fort Campbell. Birmingham-based Hoar and Paladin will build a 64,000-square-foot physical fitness facility and a 5,900-square-foot jogging track as part of a mentor/protégé joint venture agreement. In addition to those facilities, the project includes construction of a multipurpose athletic field, 2 softball fields, an indoor climbing wall, and surface parking for 140 vehicles. The... -
Pay raises, no uses of reserves in budget presented by Bell
16 May 2012 | 12:02 amBirmingham Mayor William Bell's proposed fiscal 2013 operating budget is $365.5 million and calls for 5 percent employee pay raises without using any loans or city reserves. According to the Birmingham News, Bell presented his spending plan Tuesday to the City Council for its consideration. The budget for the fiscal year beginning July 1 anticipates generating $365.5 million in revenue and spending that same amount.
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Boston Business News - Local Boston News | Boston Business Journal
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Oxfam America sues Securities and Exchange Commission
16 May 2012 | 1:03 pmThe Boston-based aid group Oxfam America Inc. sued the U.S. Securities Exchange Commission in federal court Wednesday, alleging the agency has been slow to draft rules requiring the disclosure of payments U.S. oil and mineral companies make to foreign governments. The regulations should have been in place more than a year ago under a provision of Dodd-Frank Wall Street Reform and Consumer Protection Act, Oxfam contends in the civil complaint. Dodd-Frank became law in July 21, 2010, and gave the... -
Wells Fargo, Hammond Residential form joint venture
16 May 2012 | 12:56 pmWells Fargo Bank, a provider of residential mortgages, and Hammond Residential Real Estate, have signed a deal to offer mortgages for Hammond’s customers. The joint venture, Massachusetts Residential Mortgage, said it will provide consumers with home loans and services through Wells Fargo Home Mortgage, a division of Wells Fargo Bank. Terms of the agreement were not disclosed. Established in 1991 by Saul B. Cohen and Joseph Hare, Hammond reported closed sales volume in 2011 exceeding $1 billion.... -
RSA renews major office lease in Bedford
16 May 2012 | 12:32 pmRSA, the Security Division of EMC Corp. (NYSE: EMC) inked a 328,232-square-foot office lease renewal at 174 & 176 Middlesex Turnpike in Bedford, Mass. The two interconnected buildings at 174 & 176 Middlesex Turnpike serve as RSA’s world headquarters. The corporate campus, built in 2001, is located on 55 acres along Route 3 in Bedford, 15 miles northwest of Boston. Terms of the deal were not disclosed. First quarter data from Jones Lang LaSalle (NYSE: JLL) reported that the average asking rent... -
Boston’s office vacancies up in Q1
16 May 2012 | 12:07 pmThe Hub’s offices were a little emptier in the first quarter, according to CoStar Group (Nasdaq: CSGP). Vacancies in Class A properties in downtown Boston increased to 11.3 percent from January through March, up from 10.8 percent at the close of 2011. Quoted rents in the Hub were $41.49. Cambridge offices had the highest quoted rents in Greater Boston at $44.51 while the vacancy rate was 10. 4 percent in premier buildings. The lowest quoted rents were in the Route 495/Route 2 West area at $15.76... -
Boston Private on Facebook: Smart money will wait
16 May 2012 | 11:44 amFacebook Inc. is set to start trading on Friday in a hugely hyped initial public offering. But some investors, including Boston Private Bank & Trust, are still on the fence, concerned with how the social network intends to pull in money. Facebook is set to float about 421 million shares in an offering expected to be priced Thursday. The initial public offering for the No. 1 social network could raise top $16 billion. Facebook's latest price estimate is $34 to $38 a share, and some predict the shares...
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Buffalo Business News - Local Buffalo News | Business First of Buffalo
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NHL takes step to negotiate new labor deal
16 May 2012 | 1:25 pmThe National Hockey League has provided the NHL Player’s Association with notice that it wants to terminate and/or modify the collective bargaining agreement, according to the SportsBusiness Journal. The CBA deal expires Sept. 15, 2012. An NHLPA spokesman confirmed to SBJ reporter Liz Mullen that the NHL sent the notice, as required by CBA, that it wants to change or end deal. The current pact, which included a significant cut in salaries to players, was reached in 2005 after the NHL cancelled... -
Familiar name may be next harbor canal chair
16 May 2012 | 1:01 pmJohn R, Oishei Foundation president Robert Gioia may be in the line to serve as the new chairman of the board at the Erie Canal Harbor Development Corp. Sources said that Gov. Andrew Cuomo may make the formal announcement in the next few weeks. If selected, Gioia would replace Buffalo businessman Jordan Levy, who resigned from the ECHDC board earlier this year. Sam Hoyt, Empire State Development Corp. regional president, is currently serving as interim chairman of the state agency charged with... -
Skechers settles for $45M with feds, states on claims
16 May 2012 | 12:51 pmNew York’s Attorney General Eric Schneiderman sent a strong message to companies that advertise their products — be truthful, or be prepared to pay up. Schneiderman announced Wednesday a $45 million settlement with Skechers USA Inc., makers of popular athletic footwear. The settlement is in response to claims that the company engaged in deceptive marketing of several lines of shoes including its Shape-Ups, Tone-Ups, and the Skechers Resistance Runner athletic shoes. An investigation revealed... -
Earthwatch Waste owner buys Allentown property
16 May 2012 | 12:29 pmAn Allentown building that was once home to several radio stations including WHTT-FM and WGRF-FM (97 Rock) has been sold. Businessman Tom Wagner, owner of Earthwatch Waste Systems, bought the 6,700-square-foot building at 464 Franklin St., and a nearby 25-car parking lot at 454 Franklin, paying $475,000. The circa 1926 building had been owned by an affiliate of Personal Touch Food Services. Earthwatch will be moving some of its offices into the building. Citadel Communications moved its studios... -
Ontario co. coming to Buffalo, adding 49 jobs
16 May 2012 | 9:31 amA Canadian company that specializes in making unique retail displays has targeted Buffalo as the site for its first expansion into the United States. All Cover Portable Solutions of Beamsville, Ont., is working with area economic development officials on its plans to open a U.S. home for its OutFront Portable Solutions affiliate. The company has selected the 55,000-square-foot former Buffalo Metal Fabricating Co. building on Wecker Street on the city’s East Side. All Cover is expected to invest...
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Charlotte Business News - Local Charlotte News | Charlotte Business Journal
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Bank of America hiking relocation aid for troubled homeowners
16 May 2012 | 1:29 pmBank of America Corp. has launched a nationwide program that increases relocation payments to delinquent mortgage customers who complete qualifying short sales, Reuters reports. The bank says the program offers payments ranging from $2,500 to $30,000 to help homeowners move out of their homes. To qualify, borrowers must work out a pre-approved sale price with the bank, start the short sale before the end of the year and complete it by September 2013. BofA customers have completed 200,000 short... -
Duke Energy, Progress Energy settle with S.C. customer advocate
16 May 2012 | 1:14 pmContinuing efforts to speed final consideration of their $26 billion merger after federal regulators act, Duke Energy and Progress Energy have reached a settlement with South Carolina’s customer advocate designed to protect S.C. customers from additional merger costs. Concessions made by the power companies in the latest settlement and the effective portions of earlier agreements would save S.C. retail customers $1.04 to $1.08 on every 1,000 kilowatt hours used. That would be close to the equivalent... -
Polymer Group narrows loss in 1Q
16 May 2012 | 11:17 amPolymer Group Inc. has reported a net loss of $265,000 for the first quarter, a dramatic improvement from the $54.4 million loss it posted in the same period last year. Per-share results were not provided. Polymer Group was acquired by an affiliate of Blackstone Capital Partners during 2011’s first quarter and became a privately held company. The company’s sales totaled $295.2 million in the latest quarter, up from $283.6 million a year earlier. “While the underlying fundamentals of our... -
Presbyterian Healthcare seeks new president for Charlotte market
16 May 2012 | 10:28 amPresbyterian Healthcare is seeking a new president for its Charlotte operations as Mark Billings shifts to a new role with the health-care system’s parent, Novant Health Inc. Billings has been president and chief executive of Presbyterian Healthcare since 2009. He was selected to lead Novant’s shared-services business about nine months ago. He already is handling those duties and will continue to fill both roles until Presbyterian hires a new president. Winston-Salem-based Novant has retained... -
Transport Workers Union groups split on American Airlines contract offer
16 May 2012 | 10:19 amFive Transport Workers Union work groups ratified new contracts with American Airlines during weekend voting, but two groups rejected the airline’s final proposals. The Fort Worth, Texas-based airline and the TWU announced Tuesday that the fleet service, dispatch, maintenance control technicians, simulator technicians, and ground school and simulator pilot instructors work groups approved the deals. The agreements cover about 11,000 employees. The mechanics and stores work groups — covering...
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Cincinnati Business News - Local Cincinnati News | Business Courier of Cincinnati
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Analyst cuts Kroger investment rating
16 May 2012 | 1:05 pmAn analysis firm lowered its rating on Kroger Co.’s stock from “buy” to “neutral” Monday. Cleveland Research pointed to weakening volume trends and an outlook for narrower margins caused by competitive pressures when dropping its rating on the downtown-based supermarket operator. Cincinnati-based Kroger earned 50 cents per share in the fourth quarter, its most recent financial report. That beat consensus estimates of 49 cents, according to Thomson Reuters data. Kroger carries a price-earnings... -
Nonprofit File: Northern Kentucky Chamber of Commerce
16 May 2012 | 12:42 pmEach week, the Business Courier takes a snapshot look at one local nonprofit agency, using information from the organization’s Form 990 tax document filed with the IRS. The “Nonprofit File” previously appeared regularly in print, but we’re now providing it as an exclusive online-only feature. The Northern Kentucky Chamber works to develop strong businesses and a vibrant economy in Northern Kentucky and the surrounding region. The chamber provides events and networking services for its members,... -
Lineup for MidPoint Indie Series announced
16 May 2012 | 11:13 amMidPoint Music Festival today announced the lineup for this year’s MidPoint Indie Summer Series on Fountain Square, the free weekly Friday night ramp up to the big festival in September. Festival producers are emphasizing several “second chance opportunities” for fans who missed sold-out performances during last year’s MidPoint Music Festival from Bright Light Social Hour, Bear Hands and Lydia Loveless. From Timbuktu Africa, Khaira Arby and her Band will perform June 8. From Australia,... -
Ohio texting ban heads to governor's desk
16 May 2012 | 11:08 amOhio Gov. John Kasich is expected to sign Ohio's texting ban into law this week, making Ohio the 38th state to ban the use of phones for messaging while driving. Ohio's House of Representatives voted 82-12 Tuesday in favor of the ban. The legislation prohibits texting behind the wheel for all drivers. And drivers under the age of 18 will be banned from using any mobile device while driving. The Toledo Blade reports that under the law, a police officer needs another reason, other than texting, to... -
Hamilton Fixture to close in Butler County
16 May 2012 | 10:18 amHamilton Fixture is closing its facility in Butler County this month and eliminating nearly 100 jobs. The company is a manufacturer of fixtures, cabinets and point-of-sale products for retailers nationwide. It operates a 331,000 square foot manufacturing facility on Symmes Road. A company spokesman was not immediately available for comment, but Hamilton Economic Development Director Jody Gunderson said the city had been aware for more than a year that the company was having difficulties. "It has...
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Columbus Business News - Local Columbus News | Business First of Columbus
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Frontier Airlines grounding connection between Columbus and Milwaukee
16 May 2012 | 1:04 pmFrontier Airlines Inc. is suspending flights from Columbus to Milwaukee on June 1 as part of a larger exit from its regional business at General Mitchell International Airport. The airline’s two daily flights from Port Columbus International Airport to Milwaukee are the only flights it services out of Columbus, spokeswoman Lindsey Carpenter said. Frontier also is cutting service to Milwaukee from Indianapolis; Nashville, Tenn.; Omaha, Neb.; Pittsburgh and New York, she said. The company is reallocating... -
Mass layoffs drop in 1Q
16 May 2012 | 10:18 amFewer employers laid off at least 50 workers during the first quarter of 2012, according to federal data released Wednesday. During the first three months of 2012, workers in Ohio were laid off en masse 62 times, down from 66 during the same time period a year ago, according to the U.S. Bureau of Labor Statistics. Those layoffs affected 7,949 employees in the first quarter compared with 10,086 a year ago. Mass layoffs hit Ohio workers 94 times in the fourth quarter of 2011, leading to 17,100 worker... -
Columbus Regional Airport Authority gets Fitch upgrade
16 May 2012 | 10:17 amFitch Ratings moved the Columbus Regional Airport Authority’s bond rating up a notch from “A” to “A+.” Fitch cited the authority’s airline costs of less than $10 per passenger in the midst of a $194 million capital program and low leverage as reasons for the upgrade, according to a press release. The rating was for about $85.7 million in senior lien airport revenue bonds. Traffic declines, expense growth and additional leverage could trigger a rating reduction, according to the release.... -
Ohio stuck at 39th for college-educated population, Fed report finds
16 May 2012 | 9:35 amMore younger Ohioans are getting college degrees, but the state still ranks among the lowest-educated in the U.S. in part because it struggles to attract educated workers from other states, according to new research from the Federal Reserve Bank of Cleveland. The Fed’s report on Ohio’s skilled work force found the state is stuck at 39th with a quarter of the population aged 25 and older holding a college degree. The problem, the Fed found, is that even though more younger Ohioans are finishing... -
Kay Jewelers opens at Tuttle Mall, more retailers coming
16 May 2012 | 9:32 amThe Mall at Tuttle Crossing has added a new jewelry store and is expecting to add a retailer and yogurt shop. Kay Jewelers, which is owned by Akron-based Sterling Jewelers Inc., opened its new store at the mall on April 30. Francesca’s Collections, a women’s clothing and accessory retailer, and a Menchie’s Frozen Yogurt also are expected to open stores at the mall “in the coming months,” according to a press release. The Mall at Tuttle Crossing location will be the second for Encino,...
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Dallas Business News - Local Dallas News | Dallas Business Journal
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Parkland hospital construction on schedule, board told
16 May 2012 | 12:48 pmThe $1.3 billion Parkland Memorial Hospital construction project is on schedule and on budget, the institution's governing board was told Wednesday. A 1,700-vehicle parking garage that opened Jan. 30 was completed at a cost of $24.9 million, or $1.8 million under budget, said Louis Saksen, senior vice president of new hospital construction. The former parking garage and a sky bridge across Harry Hines Boulevard have been demolished. Saksen gave a construction update and showed project photos... -
Slideshow: Sheraton Dallas North completes renovation
16 May 2012 | 12:42 pmThe Sheraton Dallas North Hotel by the Galleria has completed a $17 million renovation. Dallas-based Michelle Meredith & Associates designed the interior, which touched the reception area, lobby, common areas, restaurant, ballroom and health club. The renovation is part of an effort to enhance Sheraton hotels. The Sheraton Dallas Hotel downtown is working on a $12 million renovation of the the 507 guests rooms in the hotel’s South Tower. -
Tom Hicks company joins Appleton Papers in $675M deal
16 May 2012 | 10:26 amDallas-based Hicks Acquisition Co. II Inc. (Nasdaq: HKAC) and Appleton Papers Inc. announced Wednesday that the firms have reached a $675 million deal, giving Hicks Acquisition Co. an undisclosed amount of equity interest in Appleton. Appleton — a manufacturer of specialty coated paper products and a provider of encapsulation applications — will change its corporate name to Appvion. The management team will remain the same. Hicks Acquisition Co. II is a special-purpose acquisition firm founded... -
Delta Air Lines, pilots reach tentative contract agreement
16 May 2012 | 8:04 amDelta Air Lines, Inc. and its pilots union have reached a tentative agreement on a new contract seven months before the existing accord is due for amendment, Bloomberg reported. The action, agreed upon Tuesday, is notable in an industry where negations often drag on for years, Bloomberg notes. Terms of the deal, including whether it includes pay raises or major changes, cannot yet be discussed, a union spokesman said in an e-mail to Bloomberg. Atlanta-based Delta (NYSE: DAL) won’t comment on... -
Arrow Retail announces rebranding within Cypress Equities
16 May 2012 | 7:11 amArrow Retail has renamed itself to Cypress Equities Real Estate Investment Management. Arrow Retail is an affiliate of Cypress Equities. Rebranding simplifies the company's message to potential clients and integrates it into other Cypress Equities companies, said Todd Minnis, the former managing partner at Arrow Retail, who is now senior managing director and chief investment officer of the new entity. The company's management team will not change.
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Dayton Business News - Local Dayton News | Dayton Business Journal
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Dayton Habitat building another local house
16 May 2012 | 12:20 pmDayton Habitat for Humanity will dig in this week on a new house for a local family. The organization will begin at 11 a.m. Friday to construct a home for Peggie DeVoise and her five children at 1204 Clement Ave. The project has been made possible by contributions from several local organizations. To fund the build, Dayton Habitat worked with GE Capital, the MetLife Foundation Volunteer Project Fund, the city of Dayton through the Neighborhood Stabilization Program of the U.S. Department of Housing... -
Appleton Paper merges with investment firm, going public
16 May 2012 | 12:18 pmAppleton Papers Inc. will merge with in investment firm in a $675 million deal, and the combined company will be listed on the Nasdaq exchange. The Wisconsin-based coated paper products company, which is in the process of scaling down to 100 workers in the Dayton region, announced Wednesday it struck a deal with Hicks Acquisition Company II Inc. As part of the deal, Hicks Acquisition will acquire an equity interest in Appleton by investing cash held in trust, less expenses and amounts paid for... -
Mass layoffs hit lowest level since 2006
16 May 2012 | 12:14 pmThe number of mass layoffs dropped to their lowest level since 2006 during the first quarter, according to new data on the economy. There were 1,077 mass layoffs nationwide in the first quarter, hitting 182,101 workers, according to the U.S. Bureau of Labor Statistics. That is down from the 1,490 layoffs affecting 225,456 workers in the first quarter of 2011. In Ohio, there were 62 mass layoffs, down from 66 for the same period last year. The BLS labels any job cuts of 50 or more workers at a time... -
Martin Sheen to visit Dayton for political fundraiser
16 May 2012 | 11:48 amActor Martin Sheen will join U.S. Sen. Sherrod Brown, D-Ohio, this month for a luncheon to support his re-election bid. Sheen, a Dayton native and activist, will attend the lunch and private reception, scheduled for May 30 at the Marriott Hotel in downtown Dayton, with Brown, to raise funds for his political action committee, the Ohio Valley Grassroots Victory Fund. A private reception will be held with Sheen and the Senator from 11:30 a.m. to 12:15 p.m. Guests are asked to contribute $2,500. Following... -
Dayton's Top 10 largest companies
16 May 2012 | 11:34 amAs a group, the Dayton area's biggest businesses posted significant revenue gains in 2011. The companies on the Dayton Business Journal’s 2012 Top 100 list combined for nearly $34 billion in revenue, a 9.7 percent increase compared to $31 billion in 2010. Nearly 80 of those on the list reported an increase in revenue last year and 50 posted double-digit gains. Click here for Top 10 largest companies in Dayton region. Observers say the numbers paint a picture of the Dayton region in recovery...
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Denver Business News - Local Denver News | Denver Business Journal
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Mocavo lands $4M from Foundry Group
16 May 2012 | 12:42 pmMocavo, an online genealogy research service, has landed a $4 million venture capital investment from the Foundry Group. Both companies are based in Boulder. Mocavo is a subscription service that helps users find ancestors in its online genealogy database, which it calls the world’s largest. Mocavo’s technology also automatically trolls the web on behalf of users and tries to flesh out family trees from public troves of genealogical information and user-submitted sources as well as from public... -
DBJ Tech Watch for Wednesday: Facebook IPO, Apple, Google, Microsoft
16 May 2012 | 9:28 amWelcome to the Denver Business Journal's Tech Watch, our roundup of today's tech news from around the nation, featuring reports on Facebook, Apple, Google, Microsoft, AOL, Intel, YouSendIt, Eastman Kodak, TW Telecom, Sprint Nextel, T-Mobile, General Motors, Lightbox and more. And click here for more DBJ tech coverage. Facebook executives skip visit to Denver Facebook IPO gets 25% bigger, top target now $16B Facebook buys photo startup Lightbox for undisclosed amount GM says Facebook ads... -
Colorado to provide small-business capital with $17M in federal funds
16 May 2012 | 8:59 amColorado will make available $17.2 million in federal funds to small businesses through a pair of new capital access programs. The funds were authorized by the Small Business Jobs Act passed by Congress in 2010, and delivered to Colorado last October through the federal Small Business Credit Initiative Program, designed to assist states with capital access programs. The state will use $15.2 million for its Cash Collateral Support program, and $2 million for its Colorado Capital Access program.... -
DIA passenger count up slightly in February
16 May 2012 | 7:56 amThe passenger count at Denver International Airport increased by 2.5 percent in February from a year earlier, the city announced Tuesday night. DIA counted for 3.76 million passengers in February. For the first two months of the year, DIA has had 7.66 million passengers, an increase of 0.9 percent from the same months of 2011. “Our start to 2012 has been essentially flat, mostly due to airline capacity reductions earlier this year,” Aviation Manager Kim Day said in announcing the passenger... -
Durango throws out rules for USA Pro Cycling Challenge
16 May 2012 | 7:30 amThe Durango City Council has thrown out the rules on vacation rentals, parking, signs and other matters to make the city more accommodating to the more than 20,000 visitors expected for the start of the USA Pro Cycling Challenge in August, The Durango Herald reports. With the regulations suspended, homeowners will be free to rent their homes from Aug. 10-22 without having to get a permit or collect lodging and sales taxes. The race begins Aug. 20, a day the city won't enforce parking meters. Durango...
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Greensboro Business News - Local Greensboro News | The Business Journal of the Greater Triad Area
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Greensboro's MyThreeSons cheese added to more Whole Foods stores
16 May 2012 | 11:00 amProducts from Greensboro-based pimento cheese maker MyThreeSons Gourmet will soon be found in additional Whole Foods Market Inc. throughout the South. The cheese can already be found at seven Whole Foods stores but will be added to another 17 stores in the Carolinas, Georgia, Tennessee and Alabama. MyThreeSons Gourmet pimento cheese can also be found in two Fresh Market Inc. stores, 14 Lowes Foods stores and 207 Harris Teeter stores. “I am so thrilled with the response to my products at all... -
Gail Murphy joins Women's Resource Center
16 May 2012 | 10:46 amGail Murphy has left her longtime position heading marketing efforts at the Greensboro Area Convention & Visitors Bureau and has joined the Women's Resource Center. She will serve as director of programs at the Women's Resource Center, leading the Community Resource Counseling Program, the Self Esteem series and the Emotional Wellness Programs. Murphy has also previously worked for the Eastern Music Festival and Greensboro College. She serves as a board or committee member with many Greensboro... -
Alamance Regional files application for $60M expansion
16 May 2012 | 9:58 amAlamance Regional Medical Center released details Wednesday for a planned $60 million campus improvement project that includes expanding its cancer center and emergency department, the largest expansion since the hospital opened in 1995. The details follow the medical center filing a certificate of need application with state regulators on Tuesday for the project, which was first reported by The Business Journal last week. Because of the cost of the project, Alamance Regional must receive approval... -
PTI: Arrive 90 minutes early for departing flights
16 May 2012 | 9:26 amCatching a departing flight from Piedmont Triad International Airport? Be sure to arrive at least 90 minutes early, caution airport officials. Passengers can expect longer lines than normal thanks to an uptick in passenger traffic, the installation of new security equipment and construction at the airport parking lot. “Our passengers are accustomed to a very convenient airport with short lines and not much delay between the parking lot and the boarding gates,” Kevin Baker, the airport's executive... -
Kernersville planning board votes against school in Triad Business Park
16 May 2012 | 8:59 amThe Kernersville Planning Board voted unanimously Monday night against allowing a 115-acre portion of the Triad Business Park be rezoned for the construction of a new high school. The park had been identified by Guilford County Schools as the top location for a new high school and eventually a middle school to serve southwestern Guilford County, but required that the land be rezoned to allow for educational use. The western end of the park is home to the FedEx Ground hub, and though it sits in Guilford...
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Honolulu Business News - Local Honolulu News | Pacific Business News of Honolulu
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Hawaii's Tanna Dang wins National Retail Federation video contest
16 May 2012 | 12:27 pmHawaii boutique owner Tanna Dang was named the winner of the National Retail Federation's "This is Retail" video contest on Wednesday. Dang, co-owner of the Eden in Love boutique at Ward Warehouse in Honolulu, was awarded the top prize of $25,000 by Terry Lundren, chairman, CEO and president of Macy's (NYSE: M) and chairman of the NRF's board of directors, and NRF President and CEO Matthew Shay at the organization's Washington Leadership Conference. Second place when to Kim Williams of The Polka... -
Cisco to open Hawaii networking academy Friday at Honolulu Community College
16 May 2012 | 12:15 pmCisco Systems Inc. will open its first Hawaii Cisco Networking Academy at Honolulu Community College on Friday, a program to teach students how to design, build and manage computer networks and prepare them for information and communications technology jobs. The University of Hawaii will provide classroom space, computer lab equipment and instructors Honolulu Community College Networking Academy, while San Jose, Calif.-based Cisco (Nasdaq: CSCO) will provide free online course, teacher training... -
Kauai poi mill ownership will transfer to community
16 May 2012 | 12:12 pmThe Office of Hawaiian Affairs said it will transition the ownership and management of the Makaweli Poi Mill on Kauai from its nonprofit subsidiary Hiipoi LLC to a community organization on the Garden Isle. The Waimea mill, which has been losing money, had told previously its 15 employees that it would close May 23. But OHA said Tuesday that it would transfer ownership of the mill to the community. “We want to ensure that people in the Kauai (taro) community would become the new owners and managers... -
Kaiser Permanente Hawaii Q1 profit falls to $1.8M
16 May 2012 | 12:09 pmKaiser Permanente Hawaii reported a first-quarter profit of $1.8 million, compared to $2.8 million during the first quarter of 2011. The Honolulu Star-Advertiser reports the health maintenance organization attributed the lower net income to the closing of the two Hawaii Medical Center hospitals, which caused patient volume at Kaiser's Moanalua Medical Center to soar. The newspaper reports Kaiser's revenue grew to $282.2 million in the first quarter, an 8-percent increase from $261.4 million during... -
Hawaii Medical Service Association reports $12.8M Q1 profit
16 May 2012 | 12:07 pmThe Hawaii Medical Service Association reported a first-quarter profit of $12.8 million, an increase of 53.8 percent from $8.4 million during the first quarter of 2011 and the highest gain since 2004. The Honolulu Star-Advertiser reports HMSA attributed the gain, in part, to the Hawaii Employer-Union Health Benefit Trust Fund's Jan. 1 switch from being self-funded to a fully-insured plan under HMSA. The newspaper reports HMSA's revenue rose 18.4 percent to $614.5 million, compared to $519 million...
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Houston Business News - Local Houston News | Houston Business Journal
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Teamster labor contracts to stay intact with Hostess
16 May 2012 | 12:23 pmThe 35 Houston-area Hostess Brands Inc. employees represented by Teamsters still have a labor contract with the brand, according to a recent ruling from U.S. Bankruptcy Judge Robert Drain. The Dallas Business Journal, an affiliated publication, reports that although Hostess moved to reject all International Brotherhood of Teamsters labor contracts due to its bankruptcy, Drain ruled May 14 that the contracts had to stay intact. Irving-based Hostess, the snack foods producer, said it still plans... -
Government jobs not a major factor in Houston
16 May 2012 | 11:26 amAlthough Texas added the most government jobs of any state over the past 10 years, neither the state nor the Houston area relies heavily on the government to employ its workforce, new reports show. Less than 17 percent of Texas workers are employed by federal, state and local governments, and only 14.16 percent of Houston’s workforce comes from government jobs, two analyses of U.S. Bureau of Labor Statistics from The Business Journals’ On Numbers show. That ranks Texas No. 33 among the 50 states... -
City approves tax abatement for Bridgeview project
16 May 2012 | 11:04 amHouston City Council unanimously approved a tax abatement Wednesday for a developer to renovate the former Carter’s Grove Apartments in north Houston. A joint venture between Dallas firms Bridgeview Real Estate and Stillwater Capital is embarking on a major renovation of the vacant apartment complex at 3405 N. Shepherd it acquired in January. The apartment owner will get an abatement on 50 percent of the increased tax revenue the complex generates, up to $25,000 each year for 10 years, or $250,000. At... -
Duma Energy to begin trading on OTCBB
16 May 2012 | 10:31 amDuma Energy Corp. said Wednesday that the Financial Industry Regulatory Authority has approved its new ticker symbol “DUMA.” Duma will begin trading on the OTCBB effective May 17. "The new ticker symbol is part of our overall plan to refocus the company for growth and market it to a broader and more diverse audience," Jeremy Driver, chairman and CEO of Duma Energy Corp., said in the company’s statement. In April, the company announced it was changing its name from Strategic American Oil... -
Houston ranks No. 6 for household financial health
16 May 2012 | 10:03 amHouston’s household financial health is one of the best among the top 25 metropolitan areas, but it still needs improvement, a new report shows. The CredAbility Consumer Distress Index, which is published by Atlanta-based nonprofit CredAbility, is a quarterly index that tracks the financial condition of the average U.S. household. The index measures employment, housing, credit, how families manage household budgets and net worth. The Houston-Sugar Land-Baytown area’s overall index score is...
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Jacksonville Business News - Local Jacksonville News | Jacksonville Business Journal
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Social Madness nomination period closes out, what's next?
16 May 2012 | 1:28 pmThe nomination period for Social Madness is officially over. Tuesday, May 15 was the final day companies could sign up for the competition that gives them a chance to flex their social media muscles locally and potentially nationally across 40 markets. The final submitted nominations are nothing to scoff at though, as some heavy hitters in Web.com and Winn-Dixie were some of the biggest names to sign up in the last few days. As the nomination period is over, most of you are probably wondering... -
Transport Workers Union groups split on American Airlines contract offer
16 May 2012 | 12:41 pmFive Transport Workers Union work groups ratified new contracts with American Airlines during weekend voting, but two groups rejected the airline’s final proposals. The Fort Worth, Texas-based airline and the TWU announced Tuesday that the fleet service, dispatch, maintenance control technicians, simulator technicians, and ground school and simulator pilot instructors work groups approved the deals. The agreements cover about 11,000 employees. The mechanics and stores work groups — covering... -
Fifth Third Bank launches combo ATM service
16 May 2012 | 12:33 pmFifth Third Bancorp has introduced an ATM service that allows customers to deposit checks and bills at one time, the Business Courier of Cincinnati reports. The Cincinnati-based bank says it’s the first super-regional bank in the country to offer the service. Traditional ATMs require customers to make separate ATM deposits for checks and bills, so the new service should make the process twice as fast. The bank expects to expand it across the bank’s 12-state territory by the end of the year. Fifth... -
Apple's iPhone screen to increases to 4 inches?
16 May 2012 | 12:28 pmApple Inc. has reportedly ordered larger screens for the iPhone it will roll out later this year, growing the display to 4 inches from the 3.5 inches on previous versions of the popular smartphone. The Wall Street Journal cited unnamed sources in a story on Wednesday that said Apple (Nasdaq: AAPL) ordered the bigger screens for the new phone that is expected in the fall. It is reportedly working on the screens with with LG Display Co. of South Korea and two Japanese companies, Sharp Corp. and Japan... -
Jacksonville reduced credit card debt, increased credit scores in April
16 May 2012 | 12:07 pmCreditKarma released its April 2012 Credit Climate report today, and the results for Jacksonville show slight improvements. According to the report, credit scores and credit card debt in Jacksonville each showed gains month-over-month in April. CreditKarma reported the average credit score in Jacksonville was 651, compared with 650 in March, and Jacksonville credit card debt was $6,127, down from 6,233. But the report did not offer only good news. Here is a breakdown of how Jacksonville compared...
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Kansas City Business News - Local Kansas City News | Kansas City Business Journal
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James offers preview of updated Kansas City tax plan
16 May 2012 | 12:59 pmWe’ve got a fresh update from Mayor Sly James’ office about what Thursday’s tax proposal will look like. Readers might remember an original $1 billion bond issuance idea that was cast out early in the budget process to pay for infrastructure improvements. Discussions with businesses, council members and others have altered how voters will get to decide portions of Kansas City’s tax structure during the next year. Here’s how it works: In August, voters will consider these questions (summaries,... -
Skechers agrees to $40M settlement tied to Shape-Ups claims
16 May 2012 | 11:41 amSkechers USA Inc. has reached what could be a $40 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. Kansas Attorney General Derek Schmidt said his office had filed a settlement with Skechers to resolve the allegations, which also relate to advertising claims about Tone-Ups and Resistance Runner shoes, which likewise have rounded soles. The settlement, filed Wednesday in Shawnee County District Court, keeps Skechers... -
Hill’s Pet Nutrition exec will lead Kansas City Area Life Science Institute
16 May 2012 | 11:35 amA veterinarian and executive for Hill’s Pet Nutrition Inc. has been named as the new CEO of the Kansas City Area Life Science Institute. Dr. Wayne Carter will take over leadership of the institute on June 18, the organization’s board of directors announced Wednesday. He replaces CEO Dan Getman, who is retiring after running the institute since 2009. Carter currently is vice president of global research at Hill’s Pet Nutrition in Topeka, helping commercialize new product discoveries. Previously,... -
Sprint’s new 4G smartphone gets put on hold by customs review
16 May 2012 | 7:54 amSprint Nextel Corp.’s flagship 4G LTE-capable smartphone is being held up in the wake of a patent infringement ruling, The Wall Street Journal reports. A customs review means a later debut for the HTC EVO 4G LTE, which had been set to go on sale Friday. The International Trade Commission determined late last year that HTC violated an Apple Inc. (Nasdaq: AAPL) patent. HTC says its design complies with the ruling, and it’s working with U.S. Customs to hasten the review. The ITC ruling, which... -
University of Kansas seeks 5 percent tuition boost
16 May 2012 | 7:51 amThe University of Kansas has proposed increasing tuition and fees for incoming freshman who are state residents by 4.9 percent, the Lawrence Journal-World reports. Non-residents would see a 5 percent boost. The increases would boost the cost of a 15 credit hour semester to $4,839 and $11,874, respectively, the report says. A KU official told the Journal-World that the proposal is the lowest percentage increase since the 1999-2000 school year and would help improve the university.
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Los Angeles Business News - Local Los Angeles News | Los Angeles Business from bizjournals
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Boeing prepares for U.S. defense spending cuts
16 May 2012 | 10:27 amBoeing Co., which has operations from its Defense, Space and Security division throughout Southern California, said it is preparing for the "distinct possibility" that U.S. defense spending will be cut by a total of $1 trillion over the next decade, the Chicago Tribune reports. The defense division has laid off about 8,000 of 60,000 jobs over the past 18 months, but most of those positions have been shifted to other departments inside the company, such as the commercial sector. If $500 million... -
USC on cusp of Coliseum control
15 May 2012 | 3:02 pmThe University of Southern California is on the cusp of controlling its home football venue -- the Los Angeles Memorial Coliseum -- as the Coliseum Commission approved a measure that would give USC control of the venue, according to the Los Angeles Times. The vote was approved 8-to-1, the report said. Under the new lease, USC would control the facility until 2054. USC would fun $70 million in upgrades and take control of the revenue. For more on the deal, read the original Times report. -
Proposed budget cuts hit court system
15 May 2012 | 12:24 pmGov. Jerry Brown’s proposal to whack trial court funding by $544 million this fiscal year will seriously compromise public access to justice, members of the judiciary said Monday. The governor’s proposed May revision of the state of California budget includes a $300 million cut in trial court funding. It also delays $240 in spending on trial court construction and seeks to save $4 million by increasing retirement contribution for state court employees. Chief Justice Tani Cantil-Sakauye said... -
United holds lead for consumer complaints in March
15 May 2012 | 11:20 amUnited Airlines racked up more consumer complaints than any other U.S. airline and ranked among the bottom in on-time performance in March, the Houston Chronicle reports. March was the month United switched to Continental Airlines’ reservation system, as well as a single frequent-flier program and website. The massive changeover, which happened March 3, initially resulted in widespread flight delays. Some glitches persisted for weeks and led to jammed phone lines and hours-long wait times. United... -
'Avengers' assemble at top of box office
14 May 2012 | 3:08 pm"The Avengers" once again was the overwhelming king of the weekend box office, raking in another $100 million domestically and passing the $1 billion mark worldwide. According to a report from Box Office Mojo, the top five grossing movies from the weekend were: "Marvel's The Avengers" from The Walt Disney Co. -- $103,052,274"Dark Shadows" from Warner Bros. -- $29,685,274"Think Like a Man" from Sony Pictures / Screen Gems -- $5,816,108"The Hunger Games" from Lions Gate -- $4,505,362"The Lucky One"...
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Louisville Business News - Local Louisville News | Business First of Louisville
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Republic Bancorp raises dividend
16 May 2012 | 1:27 pmRepublic Bancorp Inc. has raised its common stock dividend by 7 percent, to 15.6 cents per Class A share and 15 cents per Class B share. The dividend is payable July 20 to shareholders of record as of June 15. This is the company’s 12th consecutive increase in its quarterly cash dividend, according to a news release. Louisville-based Republic (NASDAQ: RBCAA) is the parent company of Republic Bank & Trust Co., with offices in Kentucky and Indiana, and Republic Bank, which has offices in Florida,... -
Federal government has relatively small Louisville employment
16 May 2012 | 11:22 amIn Louisville, federal agencies have a relatively small presence compared to other major cities, according to an analysis of recent employment data from the U.S. Bureau of Labor Statistics. Business First affiliate The Business Journal analyzed jobs generated by the federal government, expressing it as a percentage of all government jobs within the nation’s 100 biggest metropolitan areas. (The results can be found in the database at this link.) Louisville ranked No. 54 among the top 100 U.S.... -
Architecture Billings Index goes south
16 May 2012 | 8:42 amAfter five months of positive numbers, the American Institute of Architects' Architecture Billings Index has fallen into negative territory with a score of 48.4 for April. Any score above 50 represents an increase in billings for the month. The new projects inquiry index was 54.4 for April, down from 56.6 in March. "Considering the continued volatility in the overall economy, this decline in demand for design services isn’t terribly surprising," said the Institute's chief economist, Kermit Baker,... -
First Federal to sell Louisville branches
16 May 2012 | 6:22 amFirst Federal Savings Bank of Elizabethtown, Ky., has signed a definitive agreement to divest its four Louisville branches to First Security Bank, a subsidiary of Owensboro-based First Security Inc. According to a news release, First Security will assume $217 million of deposit liabilities and $74 million of performing loans related to the four branches. First Security will pay a deposit premium of $3.6 million, while the loans are being assumed at a 1 percent discount. The sale is expected to... -
J.C. Penney kills dividend to address quarterly loss
16 May 2012 | 6:14 amJ.C. Penney Co.'s stock fell as much as 14 percent Tuesday following news of the company's first-quarter loss. The department store chain, which has four stores in Louisville, reported a $163 million first-quarter loss on revenue of $3.15 billion, compared with net income of $64 million on revenue of $3.9 billion for the same quarter last year. Plano, Texas-based J.C. Penney (NYSE: JCP) also decided to discontinue paying its 20 cent-per-share quarterly dividend, which should save about $175 million...
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Memphis Business News - Local Memphis News | Memphis Business Journal
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Merry Maids to hire 1,000 new U.S. employees
16 May 2012 | 1:29 pmMerry Maids will hire about 1,000 new employees for its 70 company-owned locations and 400 franchises throughout the U.S. The Memphis-based home cleaning franchise will host a week-long hiring event May 21-25, during which all interested candidates can apply online for jobs at jobs.merrymaids.com. Local managers have committed to follow up with almost all qualified applicants within 24 hours for telephone interviews. The jobs available are both full- and part-time and are primarily home cleaning... -
Bioworks names six companies selected for medical device accelerator
16 May 2012 | 1:27 pmThe Memphis Bioworks Foundation has announced the six medical device companies selected for the inaugural consortium of ZeroTo510, which is designed to help launch medical product companies. The companies will receive $50,000 in startup capital and will have access to experts in the field of medical devices and products. The funding is coming from Memphis-based venture companies Innova and MB Venture Partners. Through the program, companies also will receive assistance navigating the U.S. Food... -
International Paper sets lofty sustainability goals
16 May 2012 | 11:52 amInternational Paper Co. has set a group of voluntary goals that it hopes will help the company become more sustainable by 2020. The goals are outlined in the company’s 2011 Sustainability Report, and include a 15 percent improvement of energy efficiency in purchased energy use, a 20 percent total reduction in global emissions in product production and a 15 percent global increase in third-party certified fiber volume. The company also is addressing safety and water use issues. In 2011, the company... -
Memphis councilman proposes auto inspection fee
16 May 2012 | 7:27 amEdmund Ford Jr. had a busy Tuesday, with two of his proposals making headlines across the city. Memphis City Councilman Ford proposed an auto inspection fee for residents of the Bluff City, which would range from $6 to $8, ABC 24 reports. Ford also wants to force inspection on and charge people who work in the city of Memphis but may live in the surrounding area. He went as far to propose police officers use license plate readers to determine if a car is in the city more than two days a week; if... -
GM says Facebook ads don't work, pulling $10 million ad buy
16 May 2012 | 7:27 amGeneral Motors Co. reportedly plans to stop paying for ads on Facebook but continue to use the social network in its marketing efforts. The Wall Street Journal cited unnamed sources who said GM had decided that their paid ads on Facebook were having little impact on consumers. The paper quoted GM marketing chief Joel Ewanick as confirming that the auto maker, "is definitely reassessing our advertising on Facebook, although the content (unpaid Facebook pages) is effective and important." WSJ said...
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Milwaukee Business News - Local Milwaukee News | The Business Journal of Milwaukee
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Skechers agrees to $40M settlement tied to Shape-Ups claims
16 May 2012 | 12:40 pmSkechers USA Inc. has reached an up to $40 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. Wisconsin Attorney General J.B. Van Hollen said his office has joined 43 other states, the District of Columbia and the Federal Trade Commission in a settlement with Skechers to resolve the allegations, which also relate to advertising claims about Tone-Ups and Resistance Runner shoes, which likewise have rounded soles. The... -
Housing starts in Midwest up; home builder confidence rises
16 May 2012 | 11:43 amSigns are emerging that home builders are experiencing a rebound, with an increase in housing starts in the Midwest and overall home builder confidence on the rise. Housing starts in the Midwest, including Wisconsin, were up 6.7 percent in April, compared with March, according to data Wednesday from the U.S. Census Bureau and the Department of Housing and Urban Development. Single-unit housing starts were up 3.4 percent in April from March. Nationwide housing starts were up 2.6 percent, including... -
Appleton Papers to become Appvion with merger
16 May 2012 | 11:01 amAppleton Papers Inc. said Wednesday that it has agreed to merge with a special purpose acquisition company founded and headed by Dallas billionaire Thomas Hicks in a $675 million transaction. Dallas-based Hicks Acquisition Co. II Inc. (Nasdaq: HKAC) and Appleton Papers Inc. announced Wednesday that the firms have reached a definitive agreement giving Hicks Acquisition Co. an undisclosed amount of equity interest in Appleton. Hicks Acquisition Co. II is a firm founded and headed by Hicks that will... -
Four Milwaukee-area firms qualify for tax credits
16 May 2012 | 9:41 amFour Milwaukee-area early-stage companies were among eight businesses that have been certified for Qualified New Business Venture tax credits by the Wisconsin Economic Development Corp. (WEDC). The tax credits are designed to help the companies seek new investors. WEDC said Wednesday the area businesses receiving certification are: • GolfPipeline Inc., Menomonee Falls, an Internet-based firm that provides reservations services and social network connections for the golf industry; • Imaging... -
Brady sees 3Q profit growth before restructuring costs
16 May 2012 | 9:27 amBrady Corp. said net income for the fiscal third quarter, excluding restructuring charges, increased 3 percent on a decline in sales because of reduced selling and administrative expenses, including reduced incentive compensation. For the quarter, Milwaukee-based Brady (NYSE: BRC), a global manufacturer of signs, labels, die-cut materials and other safety and security products and systems, said net income for the three months ended April 30 was $27.7 million, or 52 cents per share, including restructuring...
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Minneapolis Business News - Local Minneapolis News | The Minneapolis / St Paul Business Journal
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Target increases profit forecast after strong quarter
16 May 2012 | 1:28 pmCompany's profits were hurt by Canadian costs, but still beat expectations. Target Corp. (NYSE: TGT) Headquarters: Minneapolis Business: Discount retailerRank on the Business Journal's list of biggest Minnesota public companies: 2 News Target's stock was mostly flat (up less than 1 percent in midday trading) after reporting better-than-expected profits on the strength of strong quarterly sales. The retailer also increased its profit outlook for the year by 5 cents per share. Target had profit... -
Med-tech firm Hemosphere sold for $17M
16 May 2012 | 12:35 pmMedical-device maker Hemosphere Inc., which makes a product that aims to reduce the risk of infection in hemodialysis patients, has been sold to CryoLife Inc. for $17 million. Eden Prairie-based Hemosphere could receive an additional $4.5 million in payments if it meets certain revenue goals, Atlanta-based CryoLife (NYSE: CRY) said in a news release. Hemosphere, formerly named GraftCath, moved its headquarters to the Twin Cities from Washington state in 2004. The company went on to raise several... -
Hurricane Grill & Wings opening first Twin Cities restaurant
16 May 2012 | 11:46 amHurricane Grill & Wings will open its first Twin Cities restaurant in Burnsville in October, the Florida-based company said Wednesday. The first location will be near the intersection of Burnsville Parkway and I-35W, the restaurant said in a news release. Hurricane Grill announced last year that Torgerson Properties Inc. planned to open 17 locations in Minnesota. Torgerson owns 28 hotels and nine restaurants in Minnesota and Florida, including three Perkins restaurants and three Green Mill restaurants. Willmar-based... -
Pearson VUE acquires firm with 12,000 testing centers
16 May 2012 | 11:45 amPearson VUE, a Bloomington-based maker of education and testing software, said Wednesday it has acquired Certiport. Terms of the deal were not announced. Utah-based Certiport provides performance-based certification exams and practice test solutions for schools and businesses. The company has 12,000 authorized testing centers around the world and delivers more than 2 million exams in 150 countries annually, according to a Pearson news release. Click here to read Pearson's news release. -
Central Bank's shopping spree continues
16 May 2012 | 10:24 amCentral Bank plans to buy a single-branch commercial lender in Naples, Fla., the Stillwater-based bank said. Central Bank and Naples Bancorp. Inc. have reached an agreement to merge the Bank of Naples into Central Bank, according to a news release. The acquisition will bring Central Bank's assets to $1.2 billion. Bank of Naples had $147.23 million in assets and 22 employees at the end of the first quarter, according to Federal Deposit Insurance Corp. data. The Florida bank lost about $5.59 million...
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Nashville Business News - Local Nashville News | The Nashville Business Journal
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Why isn't your company blogging? 5 reasons to start now
16 May 2012 | 11:50 amWhen it comes to the social web, there are few tools that are as powerful as a blog. Even though blogs have been around for more than a decade, they offer an incredible opportunity for businesses to differentiate themselves in the marketplace and tell their brand story. And, when combined with social media, blogging can be incredibly effective. So, why blog? Here are five good reasons: 1. It drives traffic (and leads) Sure, you can share YouTube videos or Instagram photos on social networks,... -
Cybera raises $4.4 million in series D round
16 May 2012 | 10:55 amCybera Inc. has raised $4.4 million as part of an equity offering, according to a recent filing with the U.S. Securities and Exchange Commission. Franklin-based Cybera stated the new capital would allow it fund growth of its cloud-based security services. Nashville-based Claritas Capital was a participant in the Series D offering, along with Chicago-based Adams Street Partners, Louisville-based Chrysalis Ventures and several angel investors. “This new capital will allow us to ramp our staff... -
Acadia announces additional public offering
16 May 2012 | 10:32 amAcadia Healthcare Company Inc. (Nasdaq: ACHC) announced today a follow-on offering of 8.25 million shares of its common stock at a public offering of $15.50 per share to help fund its acquisition strategy. Acadia has also granted the underwriters a 30-day option to purchase up to an additional 1.2 million shares of common stock. Franklin-based Acadia announced earlier this year it had completed the acquisition of three inpatient psychiatric hospitals for $91 million in cash. Acadia operates a... -
First tax-hike vote puts council members on record
16 May 2012 | 7:05 amThe earliest indications of baseline opposition to Nashville Mayor Karl Dean's proposed tax increase were revealed Tuesday night, with seven Metro Council members voting against the hike or abstaining. At its meeting Tuesday, the council took up two bills – the overall budget bill and one actually setting the tax rate – for first reading. The Metro charter is set up to enact the mayor's budget automatically if the council doesn't amend it or propose its own by a certain deadline, meaning even... -
Bluegrass festival to leave Nashville for Raleigh
16 May 2012 | 7:05 amThe International Bluegrass Music Association's World of Bluegrass festival is leaving Nashville in favor of Raleigh, N.C., The City Paper reports. Citing multiple media reports in North Carolina, The City Paper reports that the festival will be held in Raleigh beginning in 2013. An official announcement is expected this afternoon. This year's festival is still scheduled to be held in Nashville from Sept. 24 to 30. In 2011, the festival's Fan Fest attracted just under 4,000 unique visitors on...
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Orlando Business News - Local Orlando News | The Orlando Business Journal
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AAA: One in three Florida residents plan to visit a theme park this summer
16 May 2012 | 12:58 pmThere’s good news for Central Florida theme parks this summer, as one in three residents in Florida as well as Georgia and Tennessee plan to visit a theme park this summer, according to the AAA Consumer Pulse survey launched in April. Despite the record-breaking rise in gas prices during the first half of the year, which tightened summer travel budgets for many Americans, nearly 34 percent of Florida, Georgia and Tennessee residents still plan to travel to theme parks like Walt Disney World, Universal... -
Travel trend looks good for hotel industry
16 May 2012 | 12:38 pmThe summer travel season should be a busy one, according to the U.S. Travel Association. “For the second consecutive year, the outlook for summer travel continues to brighten with more than three in five U.S. adults (64 percent) or an estimated 154 million Americans, planning on taking at least one trip for leisure purposes during the next six months. The percentage of Americans planning to travel between May and October is up from 61 percent last April and 56 percent in April 2010,” according... -
Apple's iPhone screen to grow to 4 inches?
16 May 2012 | 12:01 pmApple Inc. has reportedly ordered larger screens for the iPhone it will roll out later this year, growing the display to 4 inches from the 3.5 inches on previous versions of the popular smartphone. The Wall Street Journal cited unnamed sources in a story on Wednesday that said Apple (Nasdaq: AAPL) ordered the bigger screens for the new phone that is expected in the fall. It is reportedly working on the screens with with LG Display Co. of South Korea and two Japanese companies, Sharp Corp. and Japan... -
Does the recovery feel real to you?
16 May 2012 | 11:32 amBusiness has been good enough at Florida Stainless Fabricators Inc. to hire 10 new workers this year. Exports are up 50 percent at Hernon Manufacturing Inc., which has the Sanford manufacturer moving forward with its plans to more than double its 27,000 square foot plant. Those two moves are evidence of a continued recovery from the Great Recession I reported on in the May 11 edition of Orlando Business Journal. For the first time in more than two years, the March Florida report from Durham, N.H.-based... -
Slideshow: Orlando tops Homes.com most searched cities list
16 May 2012 | 11:23 amOrlando tops the Homes.com quarterly ‘State of the Housing Market’ report’s list of top searched cities by those looking to purchase a home. With more than 200,000 searches on the website in just the first quarter, Orlando beat out the second most-searched city by more than 13,000 searches. The quarterly report, which looks at the current state of the housing market, is based on data and search trends on Homes.com. The data found that the Southern housing market is still in high demand,...
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Philadelphia Business News - Local Philadelphia News | The Philadelphia Business Journal
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Bryn Mawr Bank completes purchase of Devon firm
16 May 2012 | 1:22 pmBryn Mawr Bank Corp. said Wednesday that it closed the acquisition of Devon, Pa.-based Davidson Trust Co. from Boston Private Financial Holdings Inc. Bryn Mawr bought Davidson for $10.5 million, with $7.35 million payable upon closing and $3.15 million to be paid over an 18-month period following the closing contingent on levels of assets under management. Davidson has about $1 billion in assets under management, which would bring Bryn Mawr’s total to just under $6 billion, a 19 percent increase. Davidson... -
1929 estate near Fairmount Park on sale for $10M: Slideshow
16 May 2012 | 11:28 amAn estate that was built for a founding partner of the Ballard Spahr law firm in Philadelphia is for sale for just under $10 million. The 9,000-square-foot home that sits on 40 acres at 9303 Ridge Pike in Springfield, Montgomery County, was constructed in 1929 for Ellis Ames Ballard. Ballard was known not only for helping to form what is now Ballard Spahr but also for his collection of works autographed by Rudyard Kipling. Ballard Manor was designed by architect Sydney Errington Martin. It has... -
Newtown factory’s satellites shot into orbit
16 May 2012 | 11:03 amLockheed Martin Corp. said its 100th and 101st commercial geostationary communications satellites were successfully placed in orbit Tuesday from a launch facility in Kourou, French Guiana. The satellites were built by the Bethesda, Md.-based defense, information-technology and aeronautics company at its factory in Newtown, Pa. It commemorated the launches with a celebration Tuesday night. One was made for Sky Perfect JSAT Corp. of Japan. The other was made for Vietnam Posts and Telecommunications... -
Unisys supporting France fusion project
16 May 2012 | 10:55 amUnisys Corp. said Wednesday its French subsidiary has signed a four-year agreement to co-lead a consortium that will design, buy, integrate and support the security systems for an experimental nuclear fusion reactor being built in Cadarache, France. The Blue Bell, Pa.-based information-technology company didn’t reveal the value of the agreement, which includes an option that could allow it to be extended up to 10 years. The other co-leader of the consortium is Arcadis UK Ltd., the British subsidiary... -
Phila. retailer opens first India store
16 May 2012 | 10:40 amA Philadelphia retailer has opened its first free-standing maternity wear store in India. Destination Maternity (NASDAQ:DEST) opened a namesake store in the Ambienc Mall in Gurgaon, near Delhi. It’s part of a larger franchise agreement with Mumbai-based Mahindra Retail, which already has 76 of Destination Maternity’s Motherhood “shops-in-shops” within its Mom & Me stores. The freestanding store “is the natural next step for expanding our presence in India,” said CEO Ed Krell. It will...
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Phoenix Business News - Local Phoenix News | The Business Journal of Phoenix
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Raytheon gets $314M missile contract from Navy
16 May 2012 | 1:26 pmRaytheon Co. has received a $314 million contract from the U.S. Navy for production of the Standard Missile-6. Close to half the work for the contract will be done in Tucson. The missile is an extended-range, anti-aircraft missile used aboard ships. The contract calls for an upgraded version of the missile that features improved Raytheon guidance. -
Average credit card debt down 18% in Phoenix
16 May 2012 | 1:22 pmThe average credit card debt for consumers living in the Phoenix area fell 18 percent in April 2012 compared with a year earlier, a sign consumers still are cautious about the economy. The average Phoenix credit card debt declined to $5,284 in April 2012 compared with $6,471 for the same month in 2011, according to data from San Francisco-based CreditKarma.com. Nationally, average credit card debt dropped by 11 percent to $5,650 in April 2012 compared with the same month in 2011. “Consumer confidence... -
2,400 acres in Buckeye sell for $7.4 million
16 May 2012 | 1:03 pmElianto Landvest GP Inc., an entity created by California-based Landvest of North America, purchased 2,389 acres of land in Buckeye for about $7.4 million from Bank Midwest of Kansas City, Mo. It is the largest land parcel sold so far this year in the metro Phoenix area. The sales price breaks down to about $3,098 per acre. The property, zoned for a community master plan by the city of Buckeye, is located at the northeast corner of Sun Valley Parkway and Thomas Road. Colliers International’s... -
NAR: Housing more affordable than ever before
16 May 2012 | 11:50 amThe National Association of Realtors says its measure of housing affordability reached an all-time high last quarter, as prices, mortgage rates and family incomes converged. At the same time, bidding wars are becoming more common in Phoenix, and driving up prices. The real estate agent's trade group says the only thing missing from the equation is a return to normal lending standards. NAR bases its index on median housing prices, median family incomes and average mortgage interest rates and says... -
Bechtel expanding Glendale operations
16 May 2012 | 11:33 amSan Francisco-based Bechtel, an engineering, construction and project management firm that has offices worldwide, is expanding its Glendale operation. Plans call for leasing an additional 32,000 square feet at the Glendale Corporate Center near 99th Avenue and Loop 101. It could eventually accommodate a workforce of up to 500. Bechtel currently employs more than 350 people at its 72,000-square-foot Glendale Corporate Center. The additional space will be used to support new Bechtel projects. Brian...
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Pittsburgh Business News - Local Pittsburgh News | The Pittsburgh Business Times
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Dow loses gains in midday trading
16 May 2012 | 1:15 pmConcerns over a possible departure of Greece from the euro zone kept pressure on U.S. stock markets Wednesday although they were buoyed by strong housing and manufacturing reports earlier in the session. The Dow Jones Industrial Average was up 1.02 percent to 12,633.02 around 2 p.m. The Dow had been up as much as 105.31 points earlier in the day. Meanwhile, the S&P 500 moved into positive territory at 2 p.m. -- it was up 0.09 points to 1,330.74 -- and the Nasdaq was down 10.29 points to 2,883.80.... -
Starpointe lands German manufacturer
16 May 2012 | 12:29 pmThe development team of the Starpointe Business Park near Burgettstown, Washington County, has landed a major German door manufacturer, announcing Wednesday that it will sell 10.85 acres of land at the park to Hormann Flexon, LLC. A new facility is expected to be built and open in late summer 2013 and employ about 100 people to start. Part of the Hormann Group, which employs more than 6,000 employees worldwide and had sales of more than $1.2 billion sales last year, Hormann Flexon plans to build... -
PNC provides $95M in financing
16 May 2012 | 11:50 amPNC Financial Services Group Inc. on Wednesday announced two financing transactions at a combined $95 million. PNC (NYSE:PNC) said it led a $60 million senior secured financing package to MedPlast Inc. for the acquisition of United Plastic Group, Inc. MedPlast, based in Tempe, Ariz., produces precision custom-molded components for the health care and consumer/industrial markets. It is a portfolio company of Baird Capital Partners, Chicago-based private equity firm. A portion of the senior secured... -
People & Awards: Executive Level
16 May 2012 | 10:23 amBanking & Finance David McNichol has been named vice president and business banking officer at First Commonwealth Bank. Stephen English has been named senior vice president, managing director for the trust and investment advisory services at F.N.B. Wealth Management. Stacey Watson has been named assistant vice president, senior portfolio underwriter at First Niagara Bank. Stephen Olsavsky has been named vice president, commercial real estate group at First Niagara. Business Services Steve... -
Table game revenue up at Rivers, Meadows
16 May 2012 | 9:14 amTable game revenue rose at both the Rivers Casino and the Meadows Racetrack and Casino in April 2012. The Pennsylvania Gaming Control Board said Wednesday that the 1,031 gaming tables at the 11 operating casinos statewide generated $56,499,624, up 6.8 percent from April 2011. Rivers Casino in Pittsburgh had $6.04 million in revenue from its 110 tables compared to $5.77 million in revenue from 107 tables in April 2011. Meadows Racetrack had $2.69 million in revenue from 79 tables compared to $2.61...
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Portland Business News - Local Portland News | The Portland Business Journal
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Catching up with our CFO Awards finalists
16 May 2012 | 1:20 pmAs I edited the Business Journal’s 2012 CFO of the Year Awards, I got a chance to learn more about each of the 15 award recipients. Some remarks the honored CFOs made in their interviews struck me as especially intriguing or insightful. See also: Gallery: Meet the CFO of the Year finalists Here’s a sampling: • There’s a reason Flir Systems CFO Tony Trunzo drives a BMW, besides wanting a nice car. BMW, he said, was the first car company to offer Flir’s infrared technology for detecting... -
Tripwire acquisition nets $500K for Oregon charities
16 May 2012 | 12:45 pmIt has been just over a year since Tripwire Inc. was acquired by private equity firm Thoma Bravo LLC for an undisclosed amount. The deal, however, is now paying off for Oregon charities thanks to a long-running partnership between Tripwire and the Oregon Entrepreneurs Network. Prior to the acquisition, Tripwire had granted an equity interest in the company to the OEN's Entrepreneurs Foundation of the Northwest, which helps companies establish and execute philanthropic endeavors. When Tripwire was... -
Real estate market brightens for home sellers
16 May 2012 | 12:09 pmThe Portland-area home market tightened significantly in April as the inventory of for-sale properties dipped well into seller-friendly territory. Prices remain stable and don’t yet reflect the imbalance between supply and demand, according to figures released Wednesday by the Regional Multiple Listing Service RMLS reported a 4.7-month inventory of unsold homes in April, down from 7.2 months and 7.3 months in 2011 and 2010, respectively. It is the tightest inventory since June 2007. As recently... -
Apple iPhone screen to grow to 4 inches?
16 May 2012 | 9:32 amApple Inc. has reportedly ordered larger screens for the iPhone it will roll out later this year, growing the display to 4 inches from the 3.5 inches on previous versions of the popular smartphone. As the Silicon Valley / San Jose Business Journal reports, there are reports that Apple has ordered the bigger screens for the new phone that is expected in the fall. -
Otellini: Intel's next CEO will likely come from in-house
16 May 2012 | 9:26 amIntel Corp. CEO Paul Otellini said on Tuesday that he expects his replacement will eventually come from within the company, saying Chief Operating Officer Brian Krzanich is one of a number of good candidates. In an interview with Bloomberg TV, Otellini said “We’re a company that’s always gone from within in terms of these promotions,” Otellini said. “I think that makes a lot of sense for most companies, particularly given the track record in the Valley lately.” The current 61-year-old...
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Raleigh Business News - Local Raleigh News | The Triangle Business Journal
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The List: Largest Alumni Associations
16 May 2012 | 11:26 amThe Triangle is home to several highly regarded institutions of higher education, including schools such as Duke University, N.C. State and UNC-Chapel Hill. A lot of companies in the area want to keep that talent here, so it’s no wonder that the Triangle is full of alumni from those and other local schools. There are also some universities located outside of the Triangle that have rather large alumni bases here, including UNC-Greensboro and East Carolina University. But just which alumni associations... -
Premiere Global Sports buys TMP Sports
16 May 2012 | 11:08 amPremiere Global Sports has acquired TMP Sports, the sports division of travel agency Travel Management Partners. Illinois-based Premiere, which has an office in Cary, has its own travel division called Premiere Sports Travel. TMP will be integrated into Premiere, though the two offer very different services. Premiere tailors its travel packages toward fans who want to attend major sporting events like the Kentucky Derby or a college football bowl game. TMP, by contrast, works out travel arrangements... -
Coon Rock Farm owners buy Bella Bean Organics
16 May 2012 | 10:49 amBella Bean Organics founder Sarah Houghton has sold her online farmers market and home delivery service company in Durham to Richard Holcomb and Jamie Dement, who are the owners of Coon Rock Farm in Hillsborough. Holcomb, a former technology entrepreneur-turned-food entrepreneur, did not disclose financial terms of the deal, but he said in a news release issued May 16 that the fastest growing part of his business at Coon Rock Farm is its recently introduced home delivery service. Coon Rock Farm... -
GlaxoSmithKline boosts Theravance stake
16 May 2012 | 9:02 amGlaxoSmithKline (NYSE: GSK) is increasing its ownership in San Francisco-based Theravance Inc. (Nasdaq: THRX). Following approval Tuesday by Theravance stockholders, GSK’s previously announced acquisition of 10 million shares of Theravance is now complete – meaning GSK owns 25.8 million shares of Theravance common stock. That’s 26.7 percent of the total outstanding capital stock of Theravance. GSK and Theravance long have been collaborators. In 2002, Theravance and GSK combined their efforts... -
Krzyzewski paid $7.2M by Duke in 2010
16 May 2012 | 8:52 amDuke University basketball coach Mike Krzyzewski earned a nice bump in compensation in 2010, a year the Blue Devils won the national championship. When Duke beat Butler 61-59 to win its fourth NCAA title, the university paid Krzyzewski $7.2 million in total compensation, a 54 percent increase from what he earned in 2009, a year in which Duke lost to Villanova in the Sweet 16. For 2010, Krzyzewski received $2 million in base salary and $3.7 million in bonus and incentive pay Meanwhile, Duke’s...
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Sacramento Business News - Local Sacramento News | The Sacramento Business Journal
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ED GOLDMAN: Lipitor and more
16 May 2012 | 10:45 amQuibbles and Obits — An Associated Press story last Wednesday about the probable causes of painter Thomas Kinkade’s death — alcohol and drugs — might have shown that the venerable news service endorses a belief in the afterlife. “Before his death,” the article stated, “the 54-year-old Kinkade produced sentimental scenes of country gardens and pastoral landscapes that he sold in a nationwide chain of galleries.” Note the use of the phrase ”before his death.” Is the AP implying... -
T-Mobile dials back 900 more jobs
16 May 2012 | 9:50 amT-Mobile USA Inc. will trim 900 more jobs as it seeks to align costs with a shrinking number of contract customers, according to Bloomberg. The cuts join the 1,900 layoffs that the nation’s No. 4 wireless carrier, a unit of Deutsche Telekom AG, announced in March. The latest set of cuts stems from restructuring “key functions and departments across the company,” Bloomberg reports, citing a memo to staff from chief executive officer Philipp Humm. T-Mobile's attempt to sell to AT&T Inc. fell... -
Airport system speeds up security badge processing
16 May 2012 | 9:49 amThe Sacramento County Airport System has launched a new service to make security badge processing faster and more efficient for airport employees and contractors at Sacramento International Airport, Melanie Turner writes. ... -
McClatchy names Lintecum as CFO
16 May 2012 | 9:48 amThe McClatchy Co. has chosen a vice president, finance and chief financial officer to replace Patrick Talamantes, who takes over as president and chief executive officer. Elaine Lintecum, who has been in McClatchy’s corporate finance department for 24 years, has been treasurer since 2002, and will keep those duties, according to a news release from the company. Talamantes, in turn, takes over from former CEO Gary Pruitt, who in March announced his departure for the Associated Press. ... -
Rackwise losses include shifting headquarters to Folsom
16 May 2012 | 9:48 amRackwise Inc., a fast-growing technology company that moved its headquarters to Folsom this month, lost $2.2 million in the first quarter, compared to a loss of $899,127 the year earlier period, Mark Anderson writes. Revenue in the first quarter was $684,149, up 28 percent from revenue of $536,476 in the first quarter of 2011. Rackwise's (OTCBB: RACK.OB) earnings release says performance in the first quarter reflects strategic investments in corporate infrastructure -- moving to Folsom -- as well...
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St. Louis Business News - Local St. Louis News | The St. Louis Business Journal
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Lemay to reveal plans for $12 million aquatic center tonight
16 May 2012 | 11:44 amResidents can view artists' renderings of the $12 million Lemay Community and Aquatic Center starting at 6 p.m. today at Hancock Place Elementary, 9101 S. Broadway, St. Louis. The aquatic center will be located inside Jefferson Barracks Park. The 40,000 square-foot center will include two swimming pools, a lazy river, a civic center and a fitness facility. As part of the lease and development agreement between Pinnacle Entertainment and the St. Louis County Port Authority, Pinnacle will provide... -
Federal jobs are 15 percent of St. Louis government workforce
16 May 2012 | 11:12 amEmployees of federal agencies, departments and services account for 15 percent of the total government workforce in St. Louis, according to an On Numbers study of the latest data from the U.S. Bureau of Labor Statistics. As of March this year, 26,100 of the 170,200 government jobs in St. Louis were held by employees of the federal government. That put the city 25th on a ranking of the top 100 markets’ federal share of the government workforce. The federal government accounts for more than 20... -
Monsanto donates $250,000 to Opportunity International
16 May 2012 | 10:28 amMonsanto Co. officials said today that they gave a $250,000 grant to Opportunity International to expand access to affordable financial services in Tanzania that will enable emerging entrepreneurs to generate more income. Opportunity International provides microloans to small businesses in Tanzania, and it has 7,767 clients in that country, up from 3,000 last year. Tanzania is one of the poorest countries in the world. About 90 percent of its residents live on less than $2 per day, and 60 percent... -
YTB CEO out, one-third of staff cut, rethinking merger
16 May 2012 | 7:08 amYTB International Inc. officials said Tuesday that the company is undertaking a major restructuring program aimed at restoring profitability by focusing on its core business, the St. Louis Business Journal reports. Wood River, Ill.-based YTB (OTC: YTBLA) is an Internet-based seller of travel-related services and shopping opportunities. Robert Van Patten, the company’s president, CEO, interim CFO and board member, submitted his resignation April 26, effective immediately, which the company announced... -
PLZ Aeroscience acquires Assured Packaging
16 May 2012 | 7:07 amPLZ Aerospace officials announced the acquisition of Assured Packaging, located in Ontario, Canada, the St. Louis Business Journal reports. Financial details of the deal were not disclosed. Assured is Canada’s leading custom manufacturer of aerosols for health and beauty aids, pharmaceuticals, and the food and household markets. With this acquisition and the November purchase of K-G Spray-Pak, PLZ Aeroscience is the largest custom aerosol filler in Canada, the company said. PLZ Aeroscience Inc.,...
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San Antonio Business News - Local San Antonio News | The San Antonio Business Journal
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Production at Valero’s Memphis refinery back following outage
16 May 2012 | 12:36 pmValero Energy Corp. experienced a brief power outage at the company’s refinery in Memphis late Tuesday. However, company spokesman Bill Day said Wednesday that all main production units at Memphis are back in operation. The company experienced no material impact to production at the 195,000 barrel-per-day refinery. San Antonio-based Valero (NYSE: VLO) is the world’s largest independent refiner with 16 refineries. The company has a combined throughput capacity of refining 3 million barrels per... -
SWBC Life Insurance’s ratings get an upgrade
16 May 2012 | 12:18 pmA.M. Best Co. has upgraded SWBC Life Insurance Co.’s financial-strength rating from B+ (Good) to B++ (Good) and issuer credit rating from “bbb-” to “bbb.” The outlook for both ratings also has been revised from positive to stable. The ratings upgrades reflect SWBC Life’s continued growth in risk-adjusted capital as a result of its consistently profitable operating results. A.M. Best also cited the lack of dividend requirements by parent company Southwest Business Corp. A.M. Best officials... -
Arms of Hope CEO is stepping down
16 May 2012 | 11:13 amArms of Hope is losing its President and CEO Kevin McDonald as he makes a career transition back to law. McDonald, who led the creation of Arms of Hope through the consolidation of Medina Children’s Home and Boles Children’s Home, will resign effective June 1, 2012. He plans on returning to his role as a member of Arms of Hope’s board of directors. He was a board member prior to being named president and CEO. He will return to the Houston office of Fulbright & Jaworski LLP as a partner, where... -
San Antonio high schools are among the best in Texas, U.S. — Slideshow
16 May 2012 | 10:14 amA dozen high schools in San Antonio earned a spot on U.S. News & World Report’s Best High Schools in Texas special edition. The magazine reviewed 21,776 U.S. public high schools, including 402 schools in Texas, to compile the rankings. U.S. News & World Report worked with Washington, D.C.-based American Institutes for Research to determine how students performed relative to the state’s average, how minority and low-income students performed compared with averages for similar students in the... -
J.P. Morgan shareholders sue CEO Jaime Dimon over loss
16 May 2012 | 9:42 amA group of J.P. Morgan Chase & Co. shareholders have filed a lawsuit in federal court in New York against the bank and CEO Jamie Dimon over the bank’s $2 billion trading loss, according to a Bloomberg report. New York-based J.P. Morgan Chase (NYSE: JPM) operates 50 branches in San Antonio and a regional operations center. The company has 5,000 employees in San Antonio. Receive free daily breaking business news direct to your inbox or mobile device. Click on this link to sign up.
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San Francisco Business News - Local San Francisco News | The San Francisco Business Times
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Redwood City Saltworks boss Bruno quits job at DMB Associates
16 May 2012 | 12:31 pmJohn Bruno quit as senior vice president and general manager at DMB Associates Inc., leaving the Saltworks development in Redwood City without a leader. According to a report by Spectrum Magazine, Bruno took a job at a construction company in San Jose. Bruno was in charge of development for a joint venture, DMB Redwood City Saltworks, formed between his firm and Cargill Inc. to build on the 1,433-acre Saltworks property. Bruno's departure makes it less likely the already troubled project will... -
Rigel moving asthma drug into mid-stage trial
16 May 2012 | 12:15 pmRigel Pharmaceuticals Inc. will move an asthma drug into a Phase II trial. At the American Thoracic Society Conference in San Francisco, Rigel (NASDAQ: RIGL) said enrollment in the 276-patient trial will begin later this summer in patients with mild to moderate asthma. The trial would collect its final data in September 2013, according to ClinicalTrials.gov. (See the trial information on ClinicalTrials.gov.) The inhaled drug, dubbed R-343, is what's called a SYK inhibitor. It is designed to bind... -
Vista Equity Partners closes $3.5 billion fund
16 May 2012 | 12:13 pmVista Equity Partners closed a new acquisition fund after raising a billion dollars more than it expected. Austin-based Vista closed Vista Equity Partners Fund IV after raising $3.5 billion. The fund has already made four deals to buy Turaz from Thomson Reuters (NYSE: TRI), Vitera from the Sage Group plc, CDC Software, and Misys. Robert Smith is CEO of Vista, which completed 21 acquisitions in 2011. The 50-person private equity firm has offices in Chicago and on California Street in San Francisco's... -
Credit Karma: Card and mortgage debt down, but so are scores
16 May 2012 | 11:59 amWhile a typical American's credit card and mortgage debt have both fallen since last year, the average credit score nevertheless fell by one point between March and April. So says Credit Karma, a San Francisco company that tracks such things. The average American consumer had about $5,650 in credit card debt in April, down 13 percent from a year earlier. And average mortgage debt was down 3 percent year-over-year at $166,631. But the average credit score for U.S. consumers fell one point in April... -
Tishman to sell 555 Mission for $445M
16 May 2012 | 9:11 amUnion Investment is in contract to buy Tishman Speyer’s 555 Mission St. for $445 million, or $800 a square foot. The deal would represent the highest price paid for a downtown San Francisco building since Morgan Stanley Real Estate bought One Market Plaza for $925 a square foot as part of a portfolio of San Francisco office buildings in 2007. The pending transaction was reported today by the industry newsletter Real Estate Alert. Eastdil Secured is brokering the deal for Tishman Speyer, which...
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San Jose Business News - Local San Jose News | The Silicon Valley / San Jose Business Journal
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Former UK leader Tony Blair to speak at Stanford
16 May 2012 | 1:02 pmTony Blair, former prime minister of the United Kingdom, will speak at Stanford University May 17. The founder of the Africa Governance Initiative will appear before a group of students and faculty to address the issue of economic development in Africa and how it can lead to good governance in some politically unstable African nations. His organization works on economic development issues in such countries as Sierra Leone, Liberia, Rwanda and Guinea in an effort to tackle deeply rooted poverty issues. The... -
San Jose cuts fees for downtown high-rise rental developers
16 May 2012 | 12:30 pmThe San Jose City Council on Tuesday approved a set of temporary incentives to encourage high-rise residential tower development in the city, particularly in downtown. The incentives include: - A guarantee that application reviews will be no more than 120 days. - A 50 percent reduction of fees in lieu of adding park areas to developments. - A 50 percent reduction of construction-related taxes. - Elimination of the requirement for systems in high-rises that contain air to help firefighters control... -
Juniper Networks hires Hamber as senior director, EMEA
16 May 2012 | 9:31 amJuniper Networks Inc. has reportedly hired William Hamber as its new senior director, Distribution Partners for Europe, Middle East and Africa (EMEA). The Sunnyvale-based networking company (NYSE:JNPR) said Hamber will report to David Helfer, vice president of EMEA partners, in his new role, according to MicroScope.co.uk on Wednesday. Hamber was previously a senior manager of channel sales and marketing at Edge-Core. He is expected to be based in Paris in his new role. Written by Lisa Sibley.... -
Google seeking more control over Android devices
16 May 2012 | 9:25 amGoogle is reportedly shifting how it introduces new Android features in a way that will give it more control over devices that use the mobile operating system. The Wall Street Journal cited unnamed sources who said that the Mountain View company plans to give multiple mobile device makers early access to new Android versions, and also plans to sell devices directly to consumers. In the past, Google has initially worked closely with just a single device maker on new versions of Android. -
Apple's iPhone screen to boost to 4 inches?
16 May 2012 | 9:25 amApple has reportedly ordered larger screens for the iPhone it will roll out later this year, growing the display to 4 inches from the 3.5 inches on previous versions of the popular smartphone. The Wall Street Journal cited unnamed sources in a story Wednesday that said Apple ordered the bigger screens for the new phone that is expected in the fall. It is reportedly working on the screens with with LG Display of South Korea and two Japanese companies, Sharp and Japan Display.
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Seattle Business News - Local Seattle News | The Puget Sound Business Journal
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Washington state gets payout from Skechers in false advertising suit
16 May 2012 | 12:29 pmCalifornia-based Skechers USA Inc. shoe company will pay $117,138 to Washington state to settle a lawsuit accusing the company of false claims that its “rocker-bottom” shoes promote weight loss and muscle strength, Attorney General Rob McKenna said Wednesday. The company has also allocated as much as $40 million for consumer refunds nationwide. Details about obtaining a refund are available on the Federal Trade Commission’s website. “Advertising materials claimed that consumers may ‘get... -
President Obama has $500K in Chase account
16 May 2012 | 8:30 amPresident Barack Obama had some kind words for J.P. Morgan Chase on ABC’s “The View” Tuesday morning, calling it “one of the best-managed banks there is” despite its $2 billion loss on risky trades. The Washington bureau of American City Business Journals reports the president’s financial disclosure forms, released Tuesday afternoon, show that Obama and his wife, Michelle, have more than $500,000 in a J.P. Morgan Chase private client asset management checking account. The president... -
Seattle Sodo arena plan moving forward
16 May 2012 | 8:24 amKing County and city of Seattle officials Wednesday are expected to announce they've reached a "Memorandum of Understanding" regarding a new arena in the city's Sodo neighborhood that could house a National Basketball Association and/or a National Hockey League team. KING5-TV reports King County Executive Dow Constantine and Seattle Mayor Mike McGinn are expected to announce the memo Wednesday, which will begin to lay out how much in bond capacity the city and county will have to commit for the... -
Seattle government workforce jobs: 15.6 percent
16 May 2012 | 8:14 amIn the Seattle area, 262,800 people are employed by the government, about 15.6 percent of all total jobs, which puts the city No. 49 in the country for reliance on government employment, percentage-wise. Nowhere does the government sector wield more economic clout than in Sacramento. Nearly three of every 10 workers in California's capital region — 28.4 percent — are employed by federal, state and local governments. The Sacramento metropolitan area contained 800,900 nonfarm jobs as of March,... -
Boeing getting ready for big cuts in U.S. defense budget
16 May 2012 | 8:04 amBoeing Co. is preparing for what could be up to $1 trillion in cuts to the U.S. defense budget over the next 10 years by cutting its workforce, consolidating facilities and reducing its overhead. The Chicago Tribune reports that Boeing (NYSE: BA) has cut 8,000 of 60,000 defense jobs over the past 18 months, with many transferring to the Commercial Airplanes division, which has a $308 billion backlog.
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South Florida Business News - Local South Florida News | The South Florida Business Journal
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Statistics show Florida tourism continues to rebound
16 May 2012 | 1:21 pmThe 23.4 million visitors that came to Florida in the first quarter of 2012 represented an increase of 2.4 percent over last year's first quarter, Visit Florida, the state's tourism marketing arm, reported on Wednesday. Direct travel-related employment in Florida rose 1.9 percent to 1.03 million, adding 19,200 jobs over the past year and representing the largest employment total since first quarter 2008, the agency said. “On the heels of a record year for the Florida tourism industry in 2011,... -
Were Skechers' shoe claims too sketchy?
16 May 2012 | 1:11 pmFlorida and 43 other states have reached a $40 million settlement regarding Skechers rocker-bottom shoes, which had a big marketing push a few years ago. A federal lawsuit alleges Skechers USA (NYSE: SKX) lacked adequate support when it claimed the rocker-bottom shoe products caused consumers to lose weight, burn calories, improve circulation, fight cellulite, and firm, tone or strengthen thigh, buttock, and back muscles. The shoes were sold under the names Shape-Ups, Tone-Ups and the Skechers Resistance... -
It's like the ATM can walk and chew gum
16 May 2012 | 1:03 pmIf you like ATMs that email receipts and take deposited checks without the need for an envelope, here's a story for you. Fifth Third Bank says it will become the first super-regional bank to offer an ATM that allows customers to deposit checks and bills at the same time, the Cincinnati Business Courier reports. The traditional way is depositing checks and cash separately during transactions. The new Fifth Third machine can accept cash and checks together, a news release said. The NCR Corp. (NYSE:... -
Mount Sinai Medical Center earns $3M in Q1
16 May 2012 | 12:48 pmMount Sinai Medical Center posted earnings of $3.3 million in the first quarter, down from $4.5 million in the same period a year ago, according to a report to its bond investors. However, the year-ago period included a $2.5 million contribution from the nonprofit hospital’s foundation, so its operating profits improved. Its net revenue grew to $128.6 million from $120.1 million a year ago. This was helped by a 2.5 percent increase in patient admissions and a 5.4 percent increase in emergency... -
Miami ranks 8th in search for homes
16 May 2012 | 12:29 pmMiami ranks eighth in the the Homes.com quarterly ‘State of the Housing Market’ report’s list of top searched cities by those looking to purchase a home. Miami was the object of 133,870 searches on the website in the first quarter compared with more than 200,000 for No. 1 ranked Orlando. The report is good news for a South Florida market that has shows signs of upticks amid lingering issues involving foreclosures and prices that are well below their pre-recession peaks. The quarterly report,...
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Tampa Business News - Local Tampa News | The Tampa Bay Business Journal
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Bradenton Herald parent company announces management changes
16 May 2012 | 1:28 pmThe McClatchy Co. (NYSE: MNI) has named Elaine Lintecum vice president of finance and chief financial officer, and put Mark Zieman, vice president of operations, in charge of Florida operations. Lintecum replaces Patrick J. Talamantes, who effective Wednesday is McClatchy's president and chief executive, according to a written statement. Talamantes replaced Gary Pruitt, as previously reported. Zieman will oversee Florida publications including the Bradenton Herald, The Miami Herald and El Nuevo... -
Skechers reaches $40 million settlement
16 May 2012 | 1:25 pmFlorida has joined 43 other states, the District of Columbia and the Federal Trade Commission in reaching a $40 million settlement with Skechers USA Inc. over allegations of deceptive advertising involving the company’s rocker-bottom shoe products, according to a statement from Attorney General Pam Bondi's office. Up to $40 million will be paid back to consumers who purchased the shoes. The company previously said it would pay a one-time settlement of $45 million plus $5 million in attorneys'... -
Unilens Vision boosts earnings
16 May 2012 | 12:27 pmUnilens Vision Inc. reported net income of $300,055, or 13 cents a share, for the three months ended March 31 compared to $296,792, or 13 cents a share, for the same period in 2011. Total revenue for the just-ended quarter, the third quarter of the company’s fiscal year, was $2.2 million compared to $2.2 million for the same period last year, according to a written statement. Largo-based Unilens Vision (OTCQB: UVIC) develops, licenses, manufactures, distributes and markets specialty contact... -
Vitera revamps, hires after big layoff
16 May 2012 | 12:25 pmVitera Healthcare Solutions, already a big player in the Tampa tech industry, aims to get even bigger. The company, formerly Sage Healthcare until it was purchased by private equity group Vista Equity Partners late last year, has about 400 workers at its Tampa headquarters and is hiring aggressively. About 91 employees have come on board in the past couple of months, and another 50 to 100 hires or more are planned over the next six months, said Matthew Hawkins, chief executive officer. The hiring... -
Liberty acquires Fort Myers Candlewood Suites in Fort Myers
16 May 2012 | 11:49 amLiberty Group of Companies, based in Clearwater, has acquired a Candlewood Suites hotel in Fort Myers. The senior lender recently foreclosed on the 80-room property, which was developed in 2008, a statement said. Liberty acquired the hotel direct from the lender in an all-cash transaction at a discount to the outstanding principal amount, the statement said. It is Liberty’s 17th acquisition since 2010. In February Liberty announced it had acquired assets of a Comfort Suites hotel in Clearwater...
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Washington, D.C. Business News - Local Washington, D.C. News | The Washington Business Journal
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Charles Landgraf leaves Dewey & LeBoeuf for Arnold & Porter
16 May 2012 | 1:29 pmCharles Landgraf, a senior partner and top D.C. lobbyist at the law firm Dewey & LeBoeuf LLP, has abandoned the struggling firm for a new home at Arnold & Porter LLP, the firm announced Wednesday. His move marks the end of a tumultuous few months for Landgraf, who was appointed to managing parter of Dewey's D.C. office after former chief Abraham Shashy bolted on Feb. 1. Then, Landgraf was appointed to a new five-person Office of the Chairman when the firm restructured its management as partner defections... -
First Potomac Realty Trust CFO's fate in question
16 May 2012 | 1:22 pmFirst Potomac Realty Trust could be forced to make some executive-level changes as an internal investigation into its financial controls continues to preoccupy the Bethesda-based real estate investment trust. CEO Doug Donatelli made a point of noting, and then declining to discuss, why company Chief Accounting Officer Michael Comer signed off on First Potomac’s first-quarter earnings report issued Tuesday. He added that Chief Financial Officer Barry Bass, who typically prepares the company’s... -
Appropriators want $5.3B more for Defense weapons buys
16 May 2012 | 12:20 pmIn a new report, the House Appropriations defense subcommittee asks for $5.3 billion more in the Department of Defense's acquisition accounts for 2013, Federal Times reported. The money would be used for items such as 17 more Alenia Aermacchi C-27J cargo planes, installation of a back-up oxygen system on the Lockheed Martin Corp. F-22A Raptor, additional Raytheon Patriot missiles and upgrades to the BAE Systems Bradley Fighting Vehicle. -
SAIC, BAE Systems vie for $698M in Navy task orders
16 May 2012 | 12:20 pmMcLean-based SAIC Inc. and Arlington-based BAE Systems Inc. will compete for task orders to provide engineering and other information technology services to the Navy and Marine Corps under a five-year contract worth approximately $698 million, Washington Technology reported. -
LightSquared pledges to push forward after bankruptcy filing
16 May 2012 | 12:20 pmReston-based wireless startup LightSquared Inc. said in its bankruptcy filing Monday that it will continue to try to win over the Federal Communications Commission to get its satellite venture up and running, a process that can take up to two years, The Washington Post reported.
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Wichita Business News - Local Wichita News | The Wichita Business Journal
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Kobach says he’ll take Kansas redistricting issue to court
16 May 2012 | 12:43 pmKansas Secretary of State Kris Kobach announced Wednesday that he’s calling upon federal courts to settle a state redistricting impasse. The Legislature is required to establish new political boundaries every 10 years to reflect population changes. This year, however, lawmakers are in day 93 of what was to be a 90-day session, and they still haven’t settled upon redrawn maps. The new boundaries are supposed to be in place for the Aug. 7 primary election. Kobach said Wednesday that because... -
Skechers agrees to $40M settlement tied to Shape-Ups claims
16 May 2012 | 12:19 pmSkechers USA Inc. has reached what could be a $40 million settlement regarding allegations of unsupported health claims about Shape-Ups and other “rocker-bottom” athletic shoes. Kansas Attorney General Derek Schmidt said his office had filed a settlement with Skechers to resolve the allegations, which also relate to advertising claims about Tone-Ups and Resistance Runner shoes, which likewise have rounded soles. The settlement, filed Wednesday in Shawnee County District Court, keeps Skechers... -
Boeing considers further increases in 787 production
16 May 2012 | 11:46 amThe Boeing Co. already has plans to increase production rates on its 787 Dreamliner from 3.5 planes per month to 10 by the end of next year, but it may not stop there. According to a report from the Chicago Tribune, Jim Albaugh, CEO of Boeing Commercial Airplanes, says the company is looking at how it might take that rate higher in the future. “Just last week, they finally put a number higher than 10 on the chart,” Albaugh says. “Now don’t write down that we’re going to higher than 10,... -
The Golf Warehouse names Jon Bernstein CEO
16 May 2012 | 9:41 amJon Bernstein is the new CEO of The Golf Warehouse, its parent company announced Wednesday. Redcats USA says Bernstein is a good fit to lead Wichita-based Golf Warehouse because he has more than 30 years of retail experience. “Jon is a strategic leader with a proven track record of managing multiple brands,” says Karen Davis, a spokesperson with Redcats, a multi-channel online retailer. Bernstein will report to Jay Berlin, CEO of The Sportsman’s Guide, another division of Redcats. Wednesday’s... -
Kansas budget talks fail to progress
16 May 2012 | 7:55 amWith several major budget issues unresolved, legislative negotiators in Kansas left a meeting Tuesday with no further budget talks scheduled. According to an Associated Press report that appears in the Wichita Eagle, legislators — beginning the 93rd day of what was to be a 90-day session — still disagree on plans to provide cities and counties with funding for property tax relief, and on how to finance an increase in state aid to public schools.
