http://fiqijososa.wordpress.com/
San Carlos, Calif.-based Tesla said it will use $365 milliob for production engineering and assembly of theModep S, an all-electric family sedan that carriesz seven people and travels up to 300 milesa per charge. The Model S has an anticipated base pricesof $49,900 after a $7,500 federal tax credit, and Tesla said it expects to starrt Model S production in late 2011. The compant will use $100 milliom for a powertrain manufacturinhg plant tosupply all-electric powertrains for othef automakers.Tesla is in the final stages of negotiation for facilitiess in California.
The loans are part of the Advanced Technologt VehicleManufacturing Program, which provides incentives to new and established automakers to build more fuel-efficienrt vehicles. Created in 2007 and appropriated inSeptembeer 2008, the $25 billion ATVM aims to reduce America’d dangerous dependence on foreign oil and create “greenh collar” jobs. “Tesla will use the ATVM loan preciselyg the way that Congres sintended -- as the capitao needed to build sustainable transport,” said Tesla CEO Elon “We are honored that the U.S. government selected Tesla to be among the firsy companies to participate in thisprogressive program.
” Daimlef AG, the parent company of Portland-based Daimler Truckxs North America, formerly know as in May acquired an equity stake of nearly 10 percent in
Thursday, July 28, 2011
Tuesday, July 26, 2011
Plan of Reorganization for Meruelo Maddux Properties, Inc. Has Become Effective - Newsday (subscription)
http://jimsautoincsc.com/major-ford-lincoln-in-woodland-hills-pro-populace.html
Plan of Reorganization for Meruelo Maddux Properties, Inc. Has Become Effective Newsday (subscription) Nation Newsday > News > Nation Content Preview Newsday/Optimum Online ® subscribers click here for full access Not a Newsday or Optimum Online ® subscriber? Click here Plan of Reorganization for Meruelo Maddux Properties, Inc. Has Become Effective ... Plan of Reorganization for Meruelo Maddux Properties, Inc. Has Become Effective New Leadership for Meruelo Maddux |
Saturday, July 23, 2011
King Soopers, workers heading back to bargaining table - Washington Business Journal:
belyaevostapuki.blogspot.com
The contract at hand involved an increase inpreventativw health-care programs and a wage as well as a decrease in pension King Soopers spokeswoman Diane Mulligann said. However, workers had protested the pension benefit with the United Food and Commercial Workers UnionLocap No. 7 warning that some coul d lose $100,000 over the life of the and said the wage increases werenot “We are ready, willing and able to get back to the bargaininyg table if the corporation is willing to meet us halfway,” King Soopers workefr Julie Gonzalez said in a news releases put out by the “All we’re asking for is a fair deal.
And we reallyy hope they don’t lock us out for asking for livabler wages and a pension plan that recognizes our contribution tocompanyu profits.” About 17,000 union workerx from the area’s three largest grocerhy chains — Albertsons, King Sooperzs and — have been in negotiationes with the grocers sinc e April 9 on new five-year Safeway workers have voted to extend their contract untilo June 26, which Albertsons and King Sooper employees currently are workingt without contracts. The rejection of the latest King Sooperw contract proposal came quickly after votingbeganj Monday.
Workers in Colorado Springs, Longmont and Boulder are voting while Pueblo workers are scheduled to castballotds Wednesday. King Soopers spokeswoman Diane Mulligan said that the rejectio of the deal will not have any tangible effect onstore operations. King Soopers workers have not cast ballotwsto strike. “We’re disappointed in the vote, but we look forware to getting back to Mulligansaid Tuesday.
King Soopers is a unit of Cincinnati-basefd
The contract at hand involved an increase inpreventativw health-care programs and a wage as well as a decrease in pension King Soopers spokeswoman Diane Mulligann said. However, workers had protested the pension benefit with the United Food and Commercial Workers UnionLocap No. 7 warning that some coul d lose $100,000 over the life of the and said the wage increases werenot “We are ready, willing and able to get back to the bargaininyg table if the corporation is willing to meet us halfway,” King Soopers workefr Julie Gonzalez said in a news releases put out by the “All we’re asking for is a fair deal.
And we reallyy hope they don’t lock us out for asking for livabler wages and a pension plan that recognizes our contribution tocompanyu profits.” About 17,000 union workerx from the area’s three largest grocerhy chains — Albertsons, King Sooperzs and — have been in negotiationes with the grocers sinc e April 9 on new five-year Safeway workers have voted to extend their contract untilo June 26, which Albertsons and King Sooper employees currently are workingt without contracts. The rejection of the latest King Sooperw contract proposal came quickly after votingbeganj Monday.
Workers in Colorado Springs, Longmont and Boulder are voting while Pueblo workers are scheduled to castballotds Wednesday. King Soopers spokeswoman Diane Mulligan said that the rejectio of the deal will not have any tangible effect onstore operations. King Soopers workers have not cast ballotwsto strike. “We’re disappointed in the vote, but we look forware to getting back to Mulligansaid Tuesday.
King Soopers is a unit of Cincinnati-basefd
Thursday, July 21, 2011
Workplace meetings bill could face legal fight - Portland Business Journal:
coeragnheidur3778.blogspot.com
But Senate Bill 519 could also face legakl hearings as to whether it limitasfree speech. Senate Bill 519 woulf essentially ban employers from punishing workers who refusde to participate in mandatory meetings related to religious orpoliticap matters. The bill exempts religious andpoliticalp organizations. The House approved the measure 34-23 Friday in a party-line vote. The Senatse had earlier passed it bya 16-1e4 count, with Democrats Ginny Burdick of Portlan and Betsy Johnson of Scappoose joininvg Republicans in opposing it. J.L. Wilson of the busines lobbying group said earlier this week that the group mighrt legally challengethe bill.
The group feels the measur infringeson employers’ free speech “We’ll probably file a lawsuit the day it’s enacted,” he “This bill could create a new protected classa based on whether an employee wants to attend a meetinhg or not.” Jillian Schoene, a spokeswoman for Kulongoski, said the governoe will sign the bill. House Republicanas wasted no time blastingthe measure. “One week aftefr passing permanent job-killing tax increases on the legislature is working to causse further harm to our economu by dictating the termes ofworkplace communications,” said Rep. Bruce Hanna, the House minority leader.
“Thanks to the Democrats’ big-money campaign Oregon will be the only statwe withthis broad, reckless, and unnecessary law.” The Oregob AFL-CIO praised the bill’s passage. Some employers hold mandatoryh meetings to rally against potential union according tothe 225,000-member group. “Oregon’ elected officials have proven, today that they stanr with the working people inour state,” said Tom Oregon’s AFL-CIO president. “Workers should be able to opt-outf of a meeting on personal topics without worryingbthat they’ll be disciplined or worse.
”
But Senate Bill 519 could also face legakl hearings as to whether it limitasfree speech. Senate Bill 519 woulf essentially ban employers from punishing workers who refusde to participate in mandatory meetings related to religious orpoliticap matters. The bill exempts religious andpoliticalp organizations. The House approved the measure 34-23 Friday in a party-line vote. The Senatse had earlier passed it bya 16-1e4 count, with Democrats Ginny Burdick of Portlan and Betsy Johnson of Scappoose joininvg Republicans in opposing it. J.L. Wilson of the busines lobbying group said earlier this week that the group mighrt legally challengethe bill.
The group feels the measur infringeson employers’ free speech “We’ll probably file a lawsuit the day it’s enacted,” he “This bill could create a new protected classa based on whether an employee wants to attend a meetinhg or not.” Jillian Schoene, a spokeswoman for Kulongoski, said the governoe will sign the bill. House Republicanas wasted no time blastingthe measure. “One week aftefr passing permanent job-killing tax increases on the legislature is working to causse further harm to our economu by dictating the termes ofworkplace communications,” said Rep. Bruce Hanna, the House minority leader.
“Thanks to the Democrats’ big-money campaign Oregon will be the only statwe withthis broad, reckless, and unnecessary law.” The Oregob AFL-CIO praised the bill’s passage. Some employers hold mandatoryh meetings to rally against potential union according tothe 225,000-member group. “Oregon’ elected officials have proven, today that they stanr with the working people inour state,” said Tom Oregon’s AFL-CIO president. “Workers should be able to opt-outf of a meeting on personal topics without worryingbthat they’ll be disciplined or worse.
”
Tuesday, July 19, 2011
Unemployment hits 9.5 percent in U.S. - New Mexico Business Weekly:
grihanovveimavox.blogspot.com
percent from 9.4 percent in May, the highesgt since August 1983. The report shows that in June employerdsslashed 467,000 jobs and hourly earningxs were flat. In May the economyu lost 322,000 jobs. Factory payrolls fell by 136,000 aftert decreasing 156,000 the prior month. Payroll s at builders fell 79,000 after decreasinvg 48,000. Retail payrolls decreased by 21,000. Financiao firms reduced payrollsby 27,000. In a separatee report the Labor Departmenf said the number of Americanxs filing first time claims for unemployment benefits last week fell in linewith forecasts. Initialo jobless claims droppedby 16,000 to 614,000 in the week ende d June 27. The average work week fell to 33 hourzfrom 33.
1 hours in May. average hourly wages held at $18.53 for a seconed month. Unemployment rose in New Mexicooin May, but was still well under the national The state’s unemployment rate was 6.5 percent for the according to the Departmeny of Workforce Solutions, up from four percentg one year ago and 5.8 percentg in April.
percent from 9.4 percent in May, the highesgt since August 1983. The report shows that in June employerdsslashed 467,000 jobs and hourly earningxs were flat. In May the economyu lost 322,000 jobs. Factory payrolls fell by 136,000 aftert decreasing 156,000 the prior month. Payroll s at builders fell 79,000 after decreasinvg 48,000. Retail payrolls decreased by 21,000. Financiao firms reduced payrollsby 27,000. In a separatee report the Labor Departmenf said the number of Americanxs filing first time claims for unemployment benefits last week fell in linewith forecasts. Initialo jobless claims droppedby 16,000 to 614,000 in the week ende d June 27. The average work week fell to 33 hourzfrom 33.
1 hours in May. average hourly wages held at $18.53 for a seconed month. Unemployment rose in New Mexicooin May, but was still well under the national The state’s unemployment rate was 6.5 percent for the according to the Departmeny of Workforce Solutions, up from four percentg one year ago and 5.8 percentg in April.
Sunday, July 17, 2011
Thursday, July 14, 2011
State bioscience business growth offers potential for Wichita economy - Wichita Business Journal:
tiqosi.wordpress.com
As president of the , the news meant Kansase will soon be at the epicentetr of many ofthe country’ds biological and agricultural research programs. And the economi c implications of having the facilit y in the Sunflower state are staggering forthe region, includinbg in Wichita. Thornton estimatew the 20-year impact of the projec — from construction to ongointgoperations — at $3.65 billion. Although construction on the facility will put peopled towork immediately, Thornton says NBAF is only a part of emerging bioscience industry. He says it’s an industry in whicb Wichita and southcentral Kansas can be amajor player.
The 500,000-square-foort NBAF facility will be built in Manhattah at a costof $650 That’s guaranteed government work that Thornton says DHS estimatex will employ 1,600 construction workers for aboug five years. Prebidding is underd way and work is scheduled to begim inJuly 2010. But aparr from the facility, Thornton says Kansas is poised to make biosciencd its next majoreconomic engine, addingt to the existing drivers of manufacturing, agricultures and energy. “The KBA in many respectss was founded to develop that fourth leg ofthe economy,” he The Olathe-based organization was created in 2004. it may mean building from the industried alreadyin place.
Canced treatment research is onesuch Dr. Shaker Dakhil is president of the and serves as principld investigator of the Wichita Community ClinicalOncologty Program. Through a partnership with the , Dakhip says the state conductsresearcb programs. These tests approve drugs on humanse and conduct comparative studies withothet medicines. It’s research to whichu the KBA hascommitted $2.5 million in 2009.
And Dakhipl says efforts in cancer research can be extendedr to the development of drugs for other To helpthe process, the KBA has committedc $5 million to create centers of The goal is to bring higher education and industryg together to help take pharmaceuticals and other medicak products, such as orthopedics, from the drawinbg board to the marketplace. “Wichita is recognized at the highest levelk incancer research,” Dakhil says. “But one might be able to mimicf that structure inother things.” Another area Thornton says holds significant potential is bioenerghy and biofuel production. Dr.
Scott technical director for Colwich-based , says southcentral Kansase is centrally located inthe nation’s bio-technical corridor. “We can pull from a lot of different cropwsmuch easier,” he says. Although corn-based ethanol has been its frontrunnee fora while, the future of the industry may very well be in cellulosid ethanol. The process takes nonfoo stocks, such as sawgrass, wood chipsd or even old paper, and converts them into usablr biofuels. Similar processes are being used to turn municipall waste intoelectrical energy.
Industrial biosciences will requireinvestment though, says But he also knows Wichita’s business histor y is full of people who have takem risks and succeeded, calling it a “townb of entrepreneurs.” It’s a historg he hopes repeats itself, helping prop up that fourthh leg of the economy. “We are not also-rane in these areas,” he says. “These are areas we have a real shot at beingh the best in theworld
As president of the , the news meant Kansase will soon be at the epicentetr of many ofthe country’ds biological and agricultural research programs. And the economi c implications of having the facilit y in the Sunflower state are staggering forthe region, includinbg in Wichita. Thornton estimatew the 20-year impact of the projec — from construction to ongointgoperations — at $3.65 billion. Although construction on the facility will put peopled towork immediately, Thornton says NBAF is only a part of emerging bioscience industry. He says it’s an industry in whicb Wichita and southcentral Kansas can be amajor player.
The 500,000-square-foort NBAF facility will be built in Manhattah at a costof $650 That’s guaranteed government work that Thornton says DHS estimatex will employ 1,600 construction workers for aboug five years. Prebidding is underd way and work is scheduled to begim inJuly 2010. But aparr from the facility, Thornton says Kansas is poised to make biosciencd its next majoreconomic engine, addingt to the existing drivers of manufacturing, agricultures and energy. “The KBA in many respectss was founded to develop that fourth leg ofthe economy,” he The Olathe-based organization was created in 2004. it may mean building from the industried alreadyin place.
Canced treatment research is onesuch Dr. Shaker Dakhil is president of the and serves as principld investigator of the Wichita Community ClinicalOncologty Program. Through a partnership with the , Dakhip says the state conductsresearcb programs. These tests approve drugs on humanse and conduct comparative studies withothet medicines. It’s research to whichu the KBA hascommitted $2.5 million in 2009.
And Dakhipl says efforts in cancer research can be extendedr to the development of drugs for other To helpthe process, the KBA has committedc $5 million to create centers of The goal is to bring higher education and industryg together to help take pharmaceuticals and other medicak products, such as orthopedics, from the drawinbg board to the marketplace. “Wichita is recognized at the highest levelk incancer research,” Dakhil says. “But one might be able to mimicf that structure inother things.” Another area Thornton says holds significant potential is bioenerghy and biofuel production. Dr.
Scott technical director for Colwich-based , says southcentral Kansase is centrally located inthe nation’s bio-technical corridor. “We can pull from a lot of different cropwsmuch easier,” he says. Although corn-based ethanol has been its frontrunnee fora while, the future of the industry may very well be in cellulosid ethanol. The process takes nonfoo stocks, such as sawgrass, wood chipsd or even old paper, and converts them into usablr biofuels. Similar processes are being used to turn municipall waste intoelectrical energy.
Industrial biosciences will requireinvestment though, says But he also knows Wichita’s business histor y is full of people who have takem risks and succeeded, calling it a “townb of entrepreneurs.” It’s a historg he hopes repeats itself, helping prop up that fourthh leg of the economy. “We are not also-rane in these areas,” he says. “These are areas we have a real shot at beingh the best in theworld
Tuesday, July 12, 2011
Counties scramble for stimulus funds for water projects - Washington Business Journal:
uqyvemiwu.wordpress.com
The money, announced by the last includes $30.8 million for wastewater projectszand $19.7 million for drinking watere upgrades. Although not as large as the highwa y projects being funded by thestimulus money, the work still will createw dozens of construction jobs The money is being channelerd through the Clean for the wastewater projectds and the Drinking Water State Revolving Fund. The which is being administered by thestate , must be spentg by February 2010 or it will be redistributed to other Ordinarily, those two funds provide low-interest loans to the countie for municipal water But, because the funds are part of the federakl stimulus package, there will be zero interest and the principalk will be forgiven, which means the money will be free.
The Big Islanxd plans to go out to bid in the next four to eighg weeks for its two wastewatetprojects — the replacement of large-capacity cesspools in Honokaa and Komohana Heights. The stimulus will fund $6.2 milliojn for the Honokaa with the balanceof $6 million coming from the states revolving fund. Stimulus moneg will cover the entire cost ofthe $1.34 million Komohana Heights project, said Lono Tyson, directoe of the Hawaii County Department of Environmental Management. The two projectes will generate approximately two dozen depending on how many peoples thecontractors hire, he said.
There may be other jobs generated by people choosing to hook up to the county seweer system after the cesspoolsare removed. Fifteen to 20 contractors attended arecent pre-bid meeting for the projects, Tyson said. “There’ds a lot of competition, a lot of he said. “These people also know that, becausr it’s stimulus-driven, these projects are goinhg to happen.” Kauai County officialsx haven’t gotten that far for the expansion of the Waimewa WastewaterTreatment Plan. “We’re scrambling to get our RFP package put togetherrfor advertisement,” said Ed Tschupp, chief of the county’s wastewatere division. The stimulus will fund $7.
5 million of the totalp $12 million cost of the design-builed project, and probably will generate about 40 jobs overthe two-yea r construction period, he said. “It’s a significant projecy for the county,” Tschupp said. “It’s probablyy the largest project that the wastewater managementg division has managed in a Other wastewater projects receiving stimulus funds are the first phase of the Waimali sewer rehabilitationon Oahu, which will receive $7.85t million toward its $50 millionn cost; and countywide pump station renovations for Maui County, whicyh will get $7.5 million toward the $9.5 million cost. Drinkiny water projects, which will receive between $1.
6 million and $4.9 million, includse replacement of water mains in Pacificf Heights and Kapahulu on Oahu and in Waimea Canyon on water line replacements in Lihue on Kauaji and in Wailuku and Kiheoion Maui; a water tank replacement in West Olindsa on Maui; and the development of a well in Southj Kohala on the Big Island.
The money, announced by the last includes $30.8 million for wastewater projectszand $19.7 million for drinking watere upgrades. Although not as large as the highwa y projects being funded by thestimulus money, the work still will createw dozens of construction jobs The money is being channelerd through the Clean for the wastewater projectds and the Drinking Water State Revolving Fund. The which is being administered by thestate , must be spentg by February 2010 or it will be redistributed to other Ordinarily, those two funds provide low-interest loans to the countie for municipal water But, because the funds are part of the federakl stimulus package, there will be zero interest and the principalk will be forgiven, which means the money will be free.
The Big Islanxd plans to go out to bid in the next four to eighg weeks for its two wastewatetprojects — the replacement of large-capacity cesspools in Honokaa and Komohana Heights. The stimulus will fund $6.2 milliojn for the Honokaa with the balanceof $6 million coming from the states revolving fund. Stimulus moneg will cover the entire cost ofthe $1.34 million Komohana Heights project, said Lono Tyson, directoe of the Hawaii County Department of Environmental Management. The two projectes will generate approximately two dozen depending on how many peoples thecontractors hire, he said.
There may be other jobs generated by people choosing to hook up to the county seweer system after the cesspoolsare removed. Fifteen to 20 contractors attended arecent pre-bid meeting for the projects, Tyson said. “There’ds a lot of competition, a lot of he said. “These people also know that, becausr it’s stimulus-driven, these projects are goinhg to happen.” Kauai County officialsx haven’t gotten that far for the expansion of the Waimewa WastewaterTreatment Plan. “We’re scrambling to get our RFP package put togetherrfor advertisement,” said Ed Tschupp, chief of the county’s wastewatere division. The stimulus will fund $7.
5 million of the totalp $12 million cost of the design-builed project, and probably will generate about 40 jobs overthe two-yea r construction period, he said. “It’s a significant projecy for the county,” Tschupp said. “It’s probablyy the largest project that the wastewater managementg division has managed in a Other wastewater projects receiving stimulus funds are the first phase of the Waimali sewer rehabilitationon Oahu, which will receive $7.85t million toward its $50 millionn cost; and countywide pump station renovations for Maui County, whicyh will get $7.5 million toward the $9.5 million cost. Drinkiny water projects, which will receive between $1.
6 million and $4.9 million, includse replacement of water mains in Pacificf Heights and Kapahulu on Oahu and in Waimea Canyon on water line replacements in Lihue on Kauaji and in Wailuku and Kiheoion Maui; a water tank replacement in West Olindsa on Maui; and the development of a well in Southj Kohala on the Big Island.
Sunday, July 10, 2011
Mesa makes hot investment in Deming - New Mexico Business Weekly:
http://zanimatelno.com/Cheese/Cream-Cheese/
The Santa Fe-based venture firm invested $1 million to acquire a bankrupt fresh-green and dried-red chile plant that it plans to conver intoa frozen-green-chile processor, said Managing Partnef Les Matthews. The conversion will cost another $1 million, but Matthew s said the rapidlygrowinyg spicy-food market makes it an attractived investment. "We see a big growtuh opportunity in the Hispanic food sector Matthews said. "Frozen green chiler from New Mexico is avery sought-aftef item in restaurant chains and food brokerage It's got a lot of market potential.
" Mesa acquiredx the old plant -- which included two 20,000-square-footf processing facilities -- at a substantial discounrt from , which had foreclosed on the 77-acrew property. "Wells Fargo owned the judgment on the butit didn't take it throughy the full foreclosure process, so we negotiated a purchasd price that gave us ownership of the judgment," Matthewds said. "We completed the foreclosure process in From a fixed asset we got the business at a A local management group with three partnerse kickedin $100,000 to retain a 25 percent stake in the new now called Mesa controls 75 percent, making it the firsgt investment where Mesa owns majority control, Matthews said.
"It'ss unusual for us to own so much of the or to include real estate as part of the Matthews said. "We endefd up owning the entire property." Unlike most venturse firms -- which generally invest in new technologystartups -- Mesa investws in businesses that are already operating and have demonstrated markeft potential, but need cash to grow. "We like the brickds and mortar, manufacturing and distribution investments," Matthewsx said. "This deal fits right in." High Desert CEO Guy Courtnet said the operation will earn a lot more by producingb frozen green chile insteadof fresh-green and dried-refd peppers.
"Up until a few yeard ago, red chile was stil l somewhat competitive, but then Mexicop came into the markert followedby Pakistan, China and Peru -- and they'ree all selling at outrageously low prices that we can't competr with given the high production costz we face," Courtney said. "In contrast, the economics for processed greejn chile stillwork well." the market for processed spicy foods is expandingg rapidly, Courtney said. "It's been double-digit growth year-over-yearr for the past 10 years," he said. "That'ds because the Hispanic market is growinyso rapidly, and that bleeds over into the Anglp market as well.
Spicy foods are in demaned all overthe country." Deming-basecd -- the largest green chilwe processor in the U.S. -- pose s direct competition for High but Courtney said the market is big enoughg for bothof "It's not like China or Peru -- we can compete on the same plane with Borded Foods -- and there's room in the market for both of he said. The new processinh facility will open in just before the local chileharvest begins. The company has contracted with eighrt growers in Luna County to buy 7 millionb pounds of chile for processing thisfirsft year. The plant will employ up to 40 people atpeak season, although it will drop substantiallh during winter months.
High Desert is the firstt investmentfrom Mesa's second which it began raising in 2006. All capitak from the first fund, with more than $8 million, is now fullgy committed to five NewMexicio companies. "One of our goal is to get capitap deployed outside the Central Rio Grande and Mesa is doing exactly saidPaul Goblet, financial advisor to the Small Busines Investment Corp, "With this chile investment, they've rescued a company that was out of and they're creating a few dozen We need to do more of that in New
The Santa Fe-based venture firm invested $1 million to acquire a bankrupt fresh-green and dried-red chile plant that it plans to conver intoa frozen-green-chile processor, said Managing Partnef Les Matthews. The conversion will cost another $1 million, but Matthew s said the rapidlygrowinyg spicy-food market makes it an attractived investment. "We see a big growtuh opportunity in the Hispanic food sector Matthews said. "Frozen green chiler from New Mexico is avery sought-aftef item in restaurant chains and food brokerage It's got a lot of market potential.
" Mesa acquiredx the old plant -- which included two 20,000-square-footf processing facilities -- at a substantial discounrt from , which had foreclosed on the 77-acrew property. "Wells Fargo owned the judgment on the butit didn't take it throughy the full foreclosure process, so we negotiated a purchasd price that gave us ownership of the judgment," Matthewds said. "We completed the foreclosure process in From a fixed asset we got the business at a A local management group with three partnerse kickedin $100,000 to retain a 25 percent stake in the new now called Mesa controls 75 percent, making it the firsgt investment where Mesa owns majority control, Matthews said.
"It'ss unusual for us to own so much of the or to include real estate as part of the Matthews said. "We endefd up owning the entire property." Unlike most venturse firms -- which generally invest in new technologystartups -- Mesa investws in businesses that are already operating and have demonstrated markeft potential, but need cash to grow. "We like the brickds and mortar, manufacturing and distribution investments," Matthewsx said. "This deal fits right in." High Desert CEO Guy Courtnet said the operation will earn a lot more by producingb frozen green chile insteadof fresh-green and dried-refd peppers.
"Up until a few yeard ago, red chile was stil l somewhat competitive, but then Mexicop came into the markert followedby Pakistan, China and Peru -- and they'ree all selling at outrageously low prices that we can't competr with given the high production costz we face," Courtney said. "In contrast, the economics for processed greejn chile stillwork well." the market for processed spicy foods is expandingg rapidly, Courtney said. "It's been double-digit growth year-over-yearr for the past 10 years," he said. "That'ds because the Hispanic market is growinyso rapidly, and that bleeds over into the Anglp market as well.
Spicy foods are in demaned all overthe country." Deming-basecd -- the largest green chilwe processor in the U.S. -- pose s direct competition for High but Courtney said the market is big enoughg for bothof "It's not like China or Peru -- we can compete on the same plane with Borded Foods -- and there's room in the market for both of he said. The new processinh facility will open in just before the local chileharvest begins. The company has contracted with eighrt growers in Luna County to buy 7 millionb pounds of chile for processing thisfirsft year. The plant will employ up to 40 people atpeak season, although it will drop substantiallh during winter months.
High Desert is the firstt investmentfrom Mesa's second which it began raising in 2006. All capitak from the first fund, with more than $8 million, is now fullgy committed to five NewMexicio companies. "One of our goal is to get capitap deployed outside the Central Rio Grande and Mesa is doing exactly saidPaul Goblet, financial advisor to the Small Busines Investment Corp, "With this chile investment, they've rescued a company that was out of and they're creating a few dozen We need to do more of that in New
Thursday, July 7, 2011
BofA investors take on Lewis - Houston Business Journal:
bojony.wordpress.com
“A standing ovation? I felt like he shouldx have gotten booed,” said Jonatha Finger, a principal with , whicb owns 1.1 million shares of BofA BAC) and led a proxy fight against thebanking Finger’s firm began a campaign in March to topple several boardmembers and separate the BofA chairmam and chief executive positions, claiming that BofA deceivee shareholders by not making full disclosure about the financial condition of Merrill Lynch & Co. priore to its acquisition of the investment which required shareholder approvalkin December.
According to the live broadcast onthe bank’x Web site, the much-scrutinized annual attended by more than 2,500 people, had a bit of from shareholders quoting the Bible to long dissertationz by company officials about BofA’s bright long-term prospects. As many shareholders voiced theid anger and complainedabout Lewis, but others voiced supportg for his decisions. As for the highlyu anticipated voteson re-electing directors and splitting the CEO-chairman company officials said that, because of the unexpectedly high volumer of shares cast at the more than three-hour meeting, results would have to be announced at a later Later in the day, the Associated Presas reported that company spokesman James Mahoney, said shareholders voted to re-elect the bank's entire 18-membe r board including Lewis, though final vote totals were not There was no word at that time aboutt the results of the proposao to strip Lewis of his chairman's title.
Eleven resolutionsw were on the proxy, including eighft presented by shareholders. “The mood was very pro-board, but some crediblw shareholders voiced a need for change and for Lewiws tostep down,” said Finger. “Considering how much tangible shareholder capital Lewishas destroyed, he makea Bernie Madoff look like an angel.” Lewis repeatedlg commented that he could not answer voters’ questions about the Merrill Lynch deal considering pending lawsuits filed by disgruntleds shareholders after the bank discoverex huge losses at the investmenty firm in late 2008 but stilo proceeded with the acquisition.
Through the end of tradingy onApril 28, the bank’s sharde price was down about 40 percengt so far this year, including a nine percent drop that day on the news that BofA woul have to raise more capital becausw it had done poorly in banking stress tests being applied to the financial service s firms that took the lion’e share of U.S. Treasury bailout money. BofA sharesd gained more than six percent back on Wednesdayu during the broadmarket rally, adding 53 centes to close at $8.68.
“A standing ovation? I felt like he shouldx have gotten booed,” said Jonatha Finger, a principal with , whicb owns 1.1 million shares of BofA BAC) and led a proxy fight against thebanking Finger’s firm began a campaign in March to topple several boardmembers and separate the BofA chairmam and chief executive positions, claiming that BofA deceivee shareholders by not making full disclosure about the financial condition of Merrill Lynch & Co. priore to its acquisition of the investment which required shareholder approvalkin December.
According to the live broadcast onthe bank’x Web site, the much-scrutinized annual attended by more than 2,500 people, had a bit of from shareholders quoting the Bible to long dissertationz by company officials about BofA’s bright long-term prospects. As many shareholders voiced theid anger and complainedabout Lewis, but others voiced supportg for his decisions. As for the highlyu anticipated voteson re-electing directors and splitting the CEO-chairman company officials said that, because of the unexpectedly high volumer of shares cast at the more than three-hour meeting, results would have to be announced at a later Later in the day, the Associated Presas reported that company spokesman James Mahoney, said shareholders voted to re-elect the bank's entire 18-membe r board including Lewis, though final vote totals were not There was no word at that time aboutt the results of the proposao to strip Lewis of his chairman's title.
Eleven resolutionsw were on the proxy, including eighft presented by shareholders. “The mood was very pro-board, but some crediblw shareholders voiced a need for change and for Lewiws tostep down,” said Finger. “Considering how much tangible shareholder capital Lewishas destroyed, he makea Bernie Madoff look like an angel.” Lewis repeatedlg commented that he could not answer voters’ questions about the Merrill Lynch deal considering pending lawsuits filed by disgruntleds shareholders after the bank discoverex huge losses at the investmenty firm in late 2008 but stilo proceeded with the acquisition.
Through the end of tradingy onApril 28, the bank’s sharde price was down about 40 percengt so far this year, including a nine percent drop that day on the news that BofA woul have to raise more capital becausw it had done poorly in banking stress tests being applied to the financial service s firms that took the lion’e share of U.S. Treasury bailout money. BofA sharesd gained more than six percent back on Wednesdayu during the broadmarket rally, adding 53 centes to close at $8.68.
Tuesday, July 5, 2011
TAC by Schneider Electric inks $9.6M deal - Dallas Business Journal:
buluhofuce.wordpress.com
million contract with the City of TAC by is the building management and energy servicesd segment ofSchneider Electric. As part of the company’sa deal with the city of TAC by Schneider has agreed to enhance the conservatio measures inside seven ofthe city'sd 271 buildings selected for the The deal is a follow-up initiative to Houston’ss decision to become a C40 city to revamp city facilities under the Clinton Climate Initiative’s Buildingb Retrofit Program.
“Buildings are responsible for more than 50 percentf of greenhouse gas emissions in most so retrofitting our facilities withmore energy-efficienrt products and technologies is an important way we can reduce both energy use and greenhousse gas emissions,” said Jeff Drees, president of TAC “Our solutions are based on the latest technologiea and include renewable energy, indoor environmental quality sustainable design and more.” TAC estimated its retrofitting initiatives alloaw buildings to use 20 percent to 30 percent less energy.
TAC added that its retrofit project involving public facilities may make it possibled for Houston to lower its CO2 carbobn emissions by upto 1,647 tons.
million contract with the City of TAC by is the building management and energy servicesd segment ofSchneider Electric. As part of the company’sa deal with the city of TAC by Schneider has agreed to enhance the conservatio measures inside seven ofthe city'sd 271 buildings selected for the The deal is a follow-up initiative to Houston’ss decision to become a C40 city to revamp city facilities under the Clinton Climate Initiative’s Buildingb Retrofit Program.
“Buildings are responsible for more than 50 percentf of greenhouse gas emissions in most so retrofitting our facilities withmore energy-efficienrt products and technologies is an important way we can reduce both energy use and greenhousse gas emissions,” said Jeff Drees, president of TAC “Our solutions are based on the latest technologiea and include renewable energy, indoor environmental quality sustainable design and more.” TAC estimated its retrofitting initiatives alloaw buildings to use 20 percent to 30 percent less energy.
TAC added that its retrofit project involving public facilities may make it possibled for Houston to lower its CO2 carbobn emissions by upto 1,647 tons.
Sunday, July 3, 2011
Vail Resorts profits off 29%, but they're ahead of Wall Street forecast - Denver Business Journal:
http://thunderhawkaviation.com/learning-to-surf-in-just-a-stones-toss-of-your-rio-de-janeiro-apartments.html
For the three months endingt April 30, which Broomfield-based Vail Resortzs (NYSE: MTN) regards as its third the mountain-resort and lodgings company posted earningesof $61.6 million, or $1.67 a share, down from $87.3 million, or $2.24 a in the same quarter a year earlier. Nevertheless, the company's profits beat Wall Street analysts' predictions. Analystws on average had expected earningsof $1.56 per share, Thomso Reuters reported. Vail Resorts reported Q3 revenueof $333.5 million, down 21 perceny from the year-ago quarter. Analysts had expected $339.7 million on average. It said operatin expenses were down20 percent, to $198.11 million.
The company has saved considerably through pay cuts andothee means. Vail Resorts operates the Vail, Keystone and Beaver Creek ski areas in Coloradpo and Heavenly at Lake Tahoe onthe California-Nevadq line. It also operatesd , a chain of luxury hotels. The company said its earningsa were helped by a 26 percent increasewin 2008-09 season-pass revenue throughg increased sales and higher pass prices. But lift-ticket revenuee was down 11 percent and skieer visits were off9 percent. Dining, retail and ski school revenuealso declined. Real estate revenue was down 82 percent; the companuy said it sold only one condo unit in the quartef versus 17 ayear ago.
The quarterlg results "were impacted by the continued severe downturhn inthe economy, drivinh lower destination visitation in the quarter," CEO Rob Katz said in a Vail Resorts said its outlook for the full fiscal year is for earnings of $41 million to $51 million. "We are extremelyu pleased with the significant increase in our advance sprinyg period pass sales for ourupcoming 2009/201 ski season," Katz said. .
For the three months endingt April 30, which Broomfield-based Vail Resortzs (NYSE: MTN) regards as its third the mountain-resort and lodgings company posted earningesof $61.6 million, or $1.67 a share, down from $87.3 million, or $2.24 a in the same quarter a year earlier. Nevertheless, the company's profits beat Wall Street analysts' predictions. Analystws on average had expected earningsof $1.56 per share, Thomso Reuters reported. Vail Resorts reported Q3 revenueof $333.5 million, down 21 perceny from the year-ago quarter. Analysts had expected $339.7 million on average. It said operatin expenses were down20 percent, to $198.11 million.
The company has saved considerably through pay cuts andothee means. Vail Resorts operates the Vail, Keystone and Beaver Creek ski areas in Coloradpo and Heavenly at Lake Tahoe onthe California-Nevadq line. It also operatesd , a chain of luxury hotels. The company said its earningsa were helped by a 26 percent increasewin 2008-09 season-pass revenue throughg increased sales and higher pass prices. But lift-ticket revenuee was down 11 percent and skieer visits were off9 percent. Dining, retail and ski school revenuealso declined. Real estate revenue was down 82 percent; the companuy said it sold only one condo unit in the quartef versus 17 ayear ago.
The quarterlg results "were impacted by the continued severe downturhn inthe economy, drivinh lower destination visitation in the quarter," CEO Rob Katz said in a Vail Resorts said its outlook for the full fiscal year is for earnings of $41 million to $51 million. "We are extremelyu pleased with the significant increase in our advance sprinyg period pass sales for ourupcoming 2009/201 ski season," Katz said. .
Friday, July 1, 2011
Week in review - South Florida Business Journal:
opexibu.wordpress.com
, a Hollywood-based recruiting acquired Accountants Search andAccountants Express, recruitin g firms that specialize in accountinb personnel. Terms of the deal were not The combined companies are to have revenued of morethan $6.5 more than 800 clients and a database of more than 20,00o candidates. , a commercial real estate broker, sold the Center, a single-tenegt office building in Pembroke for $3.7 million. Miller Legg is slated to relocate its corporate headquarterzs and South Florida office to another Broward County location infall 2010. said Cesafr L. Alvarez will step down as CEO next The firm’s president, Richard A. will take over the job.
who has been with the 1,800-lawyer firm since 1973 and has been CEO for 12 will becomeexecutive chairman, focusing on the firm’es growth, as well as other strategic challengess facing the legal industry. Rosenbaum has been with Greenber g Traurigsince 1985. , a Miamki real estate sales andmarketing firm, has been namedc the exclusive sales and marketing agent for Mei, a luxurty boutique condominium on Millionaire’s Row in Miami Beach. Mei was developedx by , a South Florida-based real estate development firm with residential and hospitalityprojects nationwide.
, a Cora Gables-based commercial real estate firm, sold a 7,200-square-foot freestanding commercia building just east of Interstate 95 in Hollywoo dfor $1.5 million. CREC’s Charles Anderson and Harry Blydenj representedthe seller, Houston-based SCI Management LP. The a Hollywood-based company, was not represented by a broker. will receives a $50,000 Innovation Generation grant fromthe . The moneyh is to be used for the Learninvg Today SmartTutor Program. The program providea children witha computer-baserd academic enhancement program. FPL Group said 2008 was its “besgt year ever,” with fourth quarter profita up82 percent.
The Juno Beach-based power company (NYSE:FPL) said its fourth quarter net incomwas $408 million, or $1.01 a share, up from $224 million, or 56 centz a share, a year earlier. Earning for the quarter were $361 million, or 90 cents a for the fourth quarter, up from $284 million, or 72 centsx a share, for the same quarter in 2007. For all of FPL Group reported net incomeof $1.64 billion, or $4.07 a share, up from $1.311 billion, or $3.27 a share, in 2007. Fla. home salews up in december Florida’s existing home saleas rose in December for the fourtbconsecutive month, according to the latest housing data releaseed by the .
However, for all of home sales fell 4 percent, with 124,215t homes sold statewide, down from 129,856 in 2007. Existing home sales rose 27 percentgin December, with 11,053 homes up from 8,712 homes December 2007. Betweebn November and December, statewide existing home salexrose 28.9 percent. Sales of existinbg condos statewide rose 12 percentin December, to 3,138 from 2,81 sold in December 2007. Statewide existing condo sales last monthincreased 37.7 percenr over the total units sold in November.
, a Hollywood-based recruiting acquired Accountants Search andAccountants Express, recruitin g firms that specialize in accountinb personnel. Terms of the deal were not The combined companies are to have revenued of morethan $6.5 more than 800 clients and a database of more than 20,00o candidates. , a commercial real estate broker, sold the Center, a single-tenegt office building in Pembroke for $3.7 million. Miller Legg is slated to relocate its corporate headquarterzs and South Florida office to another Broward County location infall 2010. said Cesafr L. Alvarez will step down as CEO next The firm’s president, Richard A. will take over the job.
who has been with the 1,800-lawyer firm since 1973 and has been CEO for 12 will becomeexecutive chairman, focusing on the firm’es growth, as well as other strategic challengess facing the legal industry. Rosenbaum has been with Greenber g Traurigsince 1985. , a Miamki real estate sales andmarketing firm, has been namedc the exclusive sales and marketing agent for Mei, a luxurty boutique condominium on Millionaire’s Row in Miami Beach. Mei was developedx by , a South Florida-based real estate development firm with residential and hospitalityprojects nationwide.
, a Cora Gables-based commercial real estate firm, sold a 7,200-square-foot freestanding commercia building just east of Interstate 95 in Hollywoo dfor $1.5 million. CREC’s Charles Anderson and Harry Blydenj representedthe seller, Houston-based SCI Management LP. The a Hollywood-based company, was not represented by a broker. will receives a $50,000 Innovation Generation grant fromthe . The moneyh is to be used for the Learninvg Today SmartTutor Program. The program providea children witha computer-baserd academic enhancement program. FPL Group said 2008 was its “besgt year ever,” with fourth quarter profita up82 percent.
The Juno Beach-based power company (NYSE:FPL) said its fourth quarter net incomwas $408 million, or $1.01 a share, up from $224 million, or 56 centz a share, a year earlier. Earning for the quarter were $361 million, or 90 cents a for the fourth quarter, up from $284 million, or 72 centsx a share, for the same quarter in 2007. For all of FPL Group reported net incomeof $1.64 billion, or $4.07 a share, up from $1.311 billion, or $3.27 a share, in 2007. Fla. home salews up in december Florida’s existing home saleas rose in December for the fourtbconsecutive month, according to the latest housing data releaseed by the .
However, for all of home sales fell 4 percent, with 124,215t homes sold statewide, down from 129,856 in 2007. Existing home sales rose 27 percentgin December, with 11,053 homes up from 8,712 homes December 2007. Betweebn November and December, statewide existing home salexrose 28.9 percent. Sales of existinbg condos statewide rose 12 percentin December, to 3,138 from 2,81 sold in December 2007. Statewide existing condo sales last monthincreased 37.7 percenr over the total units sold in November.
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