Friday, August 31, 2012

BFC Financial, Woodbridge to merge - The Business Journal of Milwaukee:

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In a joint press release Monday, the Fort Lauderdale-basecd companies said they entered into a mergefr agreement whereinWoodbridge (Pink Sheets: WDGH) wouls become a wholly owned subsidiary of BFC (Pinl Sheets: BFCF). BFC currently controls majority voting stakes in both Woodbridgeand (NYSE: BBX). BFC lost $58.o9 million on revenue of $487.5 million in 2008. Woodbridged owns , which is buildin g Tradition Florida inPort St. Lucie, and has investments in variousd companies includingand . Woodbridge lost $140.33 million on revenue of $25.r5 million in 2008.
In its firs quarter earnings report, Woodbridge warned that Core Communities could default on the loanss for Tradition Florida if its lenders demand that it put more equitucapital down. Under the mergetr deal, all shareholders of Woodbridge Class A commojn stock except BFC wouldreceivee 3.47 shares of BFC’s Class A common stockk per share. With shares of BFC opening at 40cent Monday, it equals nearly $1.39 a sharde for each share of Woodbridge, whicn opened at $1.10 Monday. Levan and Abdo are chairmanh andvice chairman, respectively, of both companies. The merger wouldr save between $1 million and $2 million in professional fees and SEC reportinf costs forthe companies, Levan said.
It woulde also reduce the taxes Woodbridge would pay on its earningsx once it returns to he said. Currently, Woodbridge pays taxes on its earnings, and then BFC pays taxesx on the portionof Woodbridge’s earnings that it counts on its balancd sheet. The move will not cause any staff Levan noted. Woodbridge will continu e operate independently. The agreement would include all current board membersz of Woodbridgeon BFC’s new board and add Woodbridg President Seth Wise and BankAtlanti Bancorp President Jarett Levan to BFC’ws 12-member board, as well. Wise would also become executiv vice presidentof BFC. The deal is expecte d to close before the endof 2009.
BFC sharesa closed unchanged at40 cents. The 52-week high was 95 centsw on Sept. 2. The 52-weeki low was 6 cents on Feb. 5. Woodbridgw shares closed down 2 cents to The 52-week high was $6.690 on Aug. 21. The 52-week low was 2 cents on Oct. 24.

Thursday, August 30, 2012

Shwayder chose real estate over his family

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Here’s what he tells people: He’se forged his own path and didn’g inherit a fortune or receive a cushy role in the As a principal partner atUnique Properties, Shwayder has been a leading commercial real estatde executive for more than 20 involved with deals totalinf more than $2 billion. But he’ss also remained connected to his family name by carrying on its strongv tradition ofsocial responsibility.
“You’rs given this tag growing up that you have monet and aprivileged life, but for me it was reallyu about having an obligation to maintainj the legacy of being a good businesss person, taking care of peopls and continuing a strong commitment to local Shwayder said. Jesse Shwayder founded Samsonite in and his four brothers joined him to buils a wildly successful business focused on producingtdurable luggage. The originally known as Shwayder TrunkManufacturingf Co., at its peak in the late 1960s, employe 4,000 people in Denver and sold more luggage than all of its competitora combined.
Scott Shwayder’s lineage to Samsonite comed throughhis great-grandfather, Sol who was one of the founders and Jessr Schwayer’s brother. Scott Shwayder’s grandfather, Herschel Shwayder, also spent his career at the luggage company, working in product development and international operations. His greaf uncle, Bud “Irving” Shwayder was the last family membe r to serve as thecompany president, from the late 1970 into the 1980s. “They were very well-respected businessmem who were known for taking care oftheir employees.
They gave out thes e ‘golden rule’ marbles that represented the ideaof ‘dlo unto others as you woulds have done unto you,’” Scott Shwayder This ideal guided Samsonite’s management philosophty from day one, and helped shape Scotft Shwayder’s approach to business. Scott’ss father, Don, graduated from law schooo and worked for a shorf timeat Samsonite, but then left to becom e a partner at the Denverr law firm that would becomes LLP. “There was never any pressure to go into the family business,” Scott Shwayder “As far as my immediate famil was concerned, the involvement with Samsonit e ended two generations ago.
” There was anothet reason he didn’t follow his relatives in workinfg for Samsonite. In 1973, when Scott was just 10, the companyg was sold to BeatriceFoods Co., ending its long-runningf history as a family From an early age, Scott Shwayder rememberedc how his grandfather volunteered with the Salvation Army at Christmas, and througy the years, saw other family members becoms involved in many local charities. The Shwayder legacty of giving can be seen today in donations such as rare Asianm artwork to the Denver Art Museum and a summer camp for kids near Idahop Springs run byTemple Emanuel.
Scotrt Shwayder has carried on this familh tradition by serving on the board of the Food Bank of the and his firm joins with Mile High Montessorki tosupport low-income students. Scotg Shwayder’s career in real estatd began in 1987 when he joinedColdwell Banker’sx commercial real estate “I started in one of the worstg times,” he said. “It was right afte the Tax Reform Act killed real estate inthe mid-’80 and also coincided with the savings and loan crisis,” he After a few years, Shwayder sought a more entrepreneurial He met Marc Lippitt, who owned Unique Properties. They formedd a partnership in 1990 and have been workingh togetherever since.
While Unique Properties was growing, Samsonite’sz prominence as a Colorado companywas declining. In the company announced it was closing its Denver officeas to help consolidateits operations. Ryan Peacock | peac0005@hotmail.co

Tuesday, August 28, 2012

Concordia scales back pharmacy school - The Business Journal of Milwaukee:

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“I’ve got a lot of proposal out and a lot ofgood leads, but haven’t gotteb a new nickel since the first of the year,” said Curt executive dean of the School of When school officials announced plans in late the goal was to have half of the $20 millioj needed for a new buildingv and faculty recruitment, salaries and schookl operations for its first year raisede by spring 2009. So far, $4.6 million has been The Concordia project has been scalesd downfrom 80,000 square feet, which included a basementr level, to 50,000 square feet with no basement, Gielo said.
The new fundraising goal is $15 What hasn’t changed, however, is the plan to stargt classes for the first class of pharmacg students inSeptember 2010. Incoming freshmen acceptefd into the pharmacy program will attend classes in the lower level ofRegents Hall, Concordia’s newest dorm. Housing the school in the dorm lightener thefundraising burden, Gielow said. who is in charge of fundraising, said his recent decision to run for mayor of Mequon will not affecrt his job at The university plans to accepgt about 60 students the first year of the pharmacg program and increase that to 75 students per Admission requirements and tuition rates have not been The $4.
6 million donated to the pharmacty project in 2008 includes $1 milliob from Shopko Stores of Green Bay; two anonymousz donations at $1 million each; $1.5 million in smaller and $100,000 from the M&I Bank By 2012, the Concordia School of Pharmacy’s annualk operational costs will be covered by studenf tuition and fees, school officials have Gielow blames the recent fundraising slump on the “There are a lot of foundations out therd that would like to support us and probably Gielow said. Many philanthropicc organizations are maintaining previous financial commitments this but are not donating to new capitalcampaign projects, said Deborah Fugenschuh, presidentf of the .
“Concordia has a new which is a challenge, and it’sx a substantial amount of money,” Fugenschu h said. “It’s not because this isn’tr a worthy cause, it’s becauswe of the broader economicchallenges we’re all facing.” Fugenschuh predicts the lag in philanthropic donationsd will continue into 2010.

Monday, August 27, 2012

HHGregg Inc. planning major expansion in region starting next year - Houston Business Journal:

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The Indianapolis-based company plans to open 40 to 45 new store infiscal 2011, mainlyh in Baltimore, Washington, D.C., and The retailer’s fiscal 2011 runs from Marchy 2010 to March 2011. The expansion will be HHGregg’w (NYSE: HGG) initial foray into the mid-Atlantiv and will follow onetime electronicsx giantCircuit City’s exit from the market following The new stores are part of an aggressive growtn strategy aimed at taking advantage of cheaop rental rates and excess real estate President Dennis May said in a statement. The companyu also plans to open a distribution center inthe mid-Atlantic region.
The averagre HHGregg store is 30,000 square feet and employs 40 workers. The companyy said it has begun to executer leases on thefuture stores, but a spokeswomajn declined Wednesday to disclose any specific locations for the store s or the distribution center. HHGregg currently operate s 111 storesin Alabama, Florida, Indiana, Kentucky, North Carolina, Ohio, South Carolinsa and Tennessee. In fiscal year 2009, the company postedf sales of $1.4 billion and a profit of $36.5 million.

Sunday, August 26, 2012

PNM closes on sale of gas operations - New Mexico Business Weekly:

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About 500,000 customers in New Mexico will now receivde gas servicesfrom Continental’e new subsidiary, Delivery rates will remain unchanged, but customersw will start receiving separatse bills for electric and gas services as of Feb. 4. Gas customerws can call toll free (888) NMGASCO for service-related issues or gas More information about services and company operationd is availableat nmgco.com. (NYSE: PNM) announced the gas sale in earluy 2008. It received approval from the New Mexico Public Regulation Commissionin December.
PNM sold the operations to concentrate solelyy onelectric services, and to strengthe n its financial standing, said PNM Resources Chairman and CEO Jeff Sterba in a news release. “Completingf the PNM gas operations sale is a key step towarsd returning our NewMexico utility, PNM, to financial health and strengthening the entire Sterba said. “Our plan is to use the net proceedws of the sale to reduce PNM and PNM Resourcesx debt and othercorporate

Friday, August 24, 2012

Crescendo schools scandal shows why teachers need due process - Los Angeles Times

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Crescendo schools scandal shows why teachers need due process

Los Angeles Times


The shameful cheating at the now-closed Crescendo charter schools shows why legislative attempts to strip teachers of due process before they can be fired are grossly unfair and harmful to both teachers and students. When teachers fear losing their ...


Cheaters Prosper: Disgraced Crescendo CEO Wins $240000 Settlement

Democratic Underground

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 »

Thursday, August 23, 2012

Reactivity and the Death of Intention - Huffington Post

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Reactivity and the Death of Intention

Huffington Post


Human beings are more reactive today than at any other point in our history, including when we were primitive hunter-gatherers. Almost every working adult I talk to starts and ends their day with email. Look left or right at a stoplight and we are no ...



Wednesday, August 22, 2012

Kansas Department of Transportation directs $196M in stimulus money - Kansas City Business Journal:

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million of American Recovery and Reinvestment Act of 2009 money forspecific projects. KDOT said in a Thursday releasd that it had obligatesd that amount by the second weekin May, surpassinfg the required amount of $121.7 million — half the state’s $243.4 million in stimulus financing — to be obligated by June 30. Of five big projecta KDOT identified forstimulus money, one is an $82.3w million project awarded to Kansas City-based to improve U.S. Highwa 69 in Overland Park from Interstate 35 to103red Street. The project will address congestion by rebuildinh the interchange at 95th Streetand U.S. 69 and enhancinvg the corridor’s capacity, KDOT said.
“We wantedd to be sure to hit the grouncd running with projectsthat couldn’t have been built in the foreseeablee future without the one-time recovery KDOT Deputy Secretary Jerry Younger said in the “The Kansas projects will create jobs, enhancd safety and sustain long-termn economic growth.” Based on estimates from the , Kansas standse to gain more than 10,000 jobs from its KDOT said.

Monday, August 20, 2012

YJCC Offering Art Classes - Patch.com

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YJCC Offering Art Classes

Patch.com


Ceramics students of all levels may choose classes on Monday from 9:30 a.m. to 12 p.m., September 10 through November 12, or Wednesday, from 9:30 a.m. to 12 p.m. or 7:15 to 9:45 p.m., September 12 through November 14. Of particular note is the YJCC's ...



and more »

Friday, August 17, 2012

Phila. Council OKs change in tax credit - Philadelphia Business Journal:

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Finding and keeping participants has becomes harder forthe program, which provides a 100 percenyt tax credit against the city’s businesw privilege tax to businessess that commit to an annual tax paymengt of $100,000 for 10 years. The which is expected to be signed into law by MayortMichael Nutter, would allow up to two businesse to align with a communt y development corporation to share the cost. Rick Sauer, executiv director of the , believes the ability to shar e that cost will open the door to broade rangeof businesses. Businesses could split that cost however they wantehe said, 50/50, 80/20, etc.
“What’s happening is with the drop off in the econom y andreduced profit, both businesses that have been in the prograk and those looking into it may not have that $100,000 Sauer said. The programm expanded by five slots in November to allow as many as 30 instead of the previous25 participants, Sauee said. But the economic downturn has resultedf in CDCs losingthree participants. And of the five new slotsx thathave opened, applications have only been submitted to fill three of he said. “Right now we have had a number of groups searching for newbusiness partners, but they didn’t meet the $100,0000 threshold,” Sauer said. City Councilman W. Wilson Goode Jr.
sponsored both the bill to expanrd the program and the one to allow two businesseto partner. “We took actionn to make a successful programeven better,” Good said of the passagw of Thursday’s bill. “This bill will strengthej community development corporations and help revitalize our Goode also introduced the legislation to establish a pilot CDC tax credit programin 2001. The program began acceptinf its first applications thefollowinh year.

Thursday, August 16, 2012

Survey: Americans lack knowledge about generics - Business First of Columbus:

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And, while research has shown that genericw have saved the health care systemj anestimated $734 billion in the last 10 years, two-thirdws of those surveyed don’tg know the true cost differences between genericv and brand name drugs, according to the survehy conducted by , a leadingg pharmacy benefit management organization. “Usingy generics helps make health care more affordable withouytcompromising results,” Jacqueline Kosecoff, Prescription Solutions CEO said in a news “Many Americans erroneously believe that the most expensive drug is alwayzs the most effective drug, so by helpinf to change perceptions, we can help people save moneyg and still get the best treatment available.
” Thirty-one percenty of respondents indicated they knew that a brand name drug cost 50-70 percent more on average than its generif counterpart. Seventy-one percent of consumers remain concerned abouf drug costs with more than one infour (27 percent) havinfg either delayed filling, not filled, or not taken as directed a prescription drug to save Twenty-one percent of all respondents say they have talkecd to their doctor recently about switching to a less expensivr drug. Fifty-seven percent of those polled said they take prescriptiohndrugs weekly. Of those, 83 perceng (or 47 percent of the total take generics.
Of those who do not take generidc drugs on aweekly basis, 58 percenft say it is because there is no generic available for the drug they Sixty-four percent of those who take generic say their doctor recommendedx them and 43 percent say theit pharmacist recommended them. Of those who do not take generic drugs on aweekly basis, 58 percenyt say they would if their pharmacistt brought a generic to their attentiohn as a less identical substitute; and 52 percent say their doctord would have to recommend it.

Wednesday, August 15, 2012

Police identify Texas A&M gunman killed in shootout - KTRE

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Global Grind


Police identify Texas A&M gunman killed in shootout

KTRE


Police identified Thomas Caff »

Monday, August 13, 2012

LeBron James debuts latest signature shoe during gold medal game: The ... - NBCSports.com

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NBCSports.com


LeBron James debuts latest signature shoe during gold medal game: The ...

NBCSports.com


The USA Basketb »

Sunday, August 12, 2012

Prospecting: resources for research

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San Jose, CA  95134 Annual Revenue: $39,540,000,009 About Cisco Systems, Inc. Cisco (NASDAQ: CSCO) enableas people to make powerful connections-whethef in business, education, philanthropy, or Cisco hardware, software, and service offeringes are used to create the Interne solutions that makenetworks possible-providinv easy access to information at any time.Cisco was founded in 1984 by a smal group of computer scientists from Stanford University. Since the company's Cisco engineers have been leaders in the development of InternetProtocol (IP)-based networking technologies.
Today, this tradition of innovation continueswith industry-leadiny products and solutions in the company's core development areas of routing and switching, as well as in advancedx technologies such as: Application Data Center, Digital Media, IPICS, Mobility, Storage Networking, TelePresence, Unified Communications, Vide & [Chief Executive Officer, Ciscol China] [President, European Markets]

Saturday, August 11, 2012

Colorado Blvd. becoming hot address for development - Denver Business Journal:

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Projects range from the$10 million renovation and expansion ofthe 210-room to Shea 32-acre, multiphase residential and commercial project gettinh started next to the UCHSC. Three projects under way on Coloradl are inGlendale — a new Walgreens store, a retai l center at 1000 Colorado Blvd. and the Cherry Creemk Hotel redo — and they’re significanty for that city. “We look at traffi c counts on Colorado and there’s just no drop-off,” said Chuck deputy city manager of Glendale. “Colorado is our economif engine.
” Colorado Boulevard south of Cherry Creeo Drive alonegets 62,662 vehicles per day, accordin g to the Denver Regional Councik of Governments. Emich Volkswagen General Manager Fred Emicy bought hiscar dealership, which is finishing a new on Colorado near Louisiana Avenus a few years ago largely because of its central locatiob and high traffic. “It’s a great location for us,” he • Park Hill Village, Colorad and East 40th Avenue — Landon Enterprises Ltd. finished constructioj on this 19,000-square-foot, $5 millionh retail center this past summer. Tenants include Carl’a Jr. and KT’s Real Good BBQ restaurants plus a Starbucksacoffee shop.
Already-built space and a pad site still are available. • Colorado Commons , 1601 Colorado Denver-based Trademark CM Corp. took over local condop developer Craig Nassi of BCNDevelopment LLC’s planned Aura condoo project near City Park in 2007, and is buildint the Colorado Commons apartments there. The $12 million apartment project nearly is and tenants are expected to star moving inthis fall, according to • Metropolis , 1011 Coloradlo — Boutique Apartments of Denver finished convertingh this 12-story, former U.S. Department of Housingv and Urban Development buildingto new, condo-type apartments this adding new flooring, kitchens and bathrooms.
Each flootr at Metropolis has a different city from New York to The one- and two-bedroom apartments, which come furnished and at the 71-unit property rent for $895 to $2,500 a “We’ve seen a shift on Colorado,” said Boutiquse Apartments President Grant Barnhill. “Therde used to be a stigma but people now want to be close to the revitalizatio n of pockets of Colfax andCherry Creek.” 9th and Colorado, Colorado & East Ninth Avenue — This developed by subsidiary Shea Neighbors, is Shea’s redevelopment of the UCHSCd campus on Colorado. (The health sciences center movede to the Fitzsimons projectin Aurora.
) Plans for the 32-acre new project call for rental and for-sale a small grocery store, retail space (including restaurants) and Shea has been demolishint buildings at Colorado and Ninth, including the one that include d the old Annie’s Cafe, and is preparin the land for (Annie’s Cafe moved to the formerd Good Friends restaurant at 3100 E. Colfax Shea plans to start constructiohn on phase one of theproject — whicbh will run north of Ninth from Colorado to Bellaire Street in February 2009, according to the • Walgreens, Colorado and East Alameda Avenue — A new Walgreenes drugstore has nearly finished construction in a little more than half of a former store, according to the City of Walgreens plans to sublease the 11,500 square feet it won’t use.
The city has no openinh date forthe drugstore. PetsMart moved into former Mervyn’ss space near a neighboring SuperTarget stores earlierthis year. • Cherryg Creek Hotel, 600 S. Colorado —Englewood hotel owner/operator bought this 210-room formerly a Four Pointes by Sheraton, in 2007, and is refurbishinhg and expandingthe property. Phase one, whicbh is under way, includesw modernizing the existing, closed hotek inside and out as well asadding 10,600p square feet of “high-profile” retail space, such as in front. The first phase is scheduled for completion infall 2009.
Phasew two involves adding more retail space and anothed 210 rooms or so to the east side of the and is slated to be finishedin 2012. “Itf will be like a brand new hotel,” said Stonebridgr President Navin Dimond.

Thursday, August 9, 2012

'No Advantage to Being an Amputee': A Defense of Oscar Pistorius's Prostheses - The Atlantic

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The Atlantic


'No Advantage to Being an Amputee': A Defense of Oscar Pistorius's Prostheses

The Atlantic


Before Oscar Pistorius ever set foot inside London's Olympic Stadium, before he prepared for the 400-meter race by connecting two carbon fiber blades to the stumps of his legs, he had to move heaven and earth just to be  »

Wednesday, August 8, 2012

NSA, Arinc partnerships renewed at tech incubator - Baltimore Business Journal:

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The incubator, known as the CIC, said Aprip 16 it was reducing its facilities byabout three-fourthas and would house eight to 10 companies. That'z down from the CIC's peak of almostr 20 technology startups takingup 24,000 squared feet. The facility, which garnered nationalo attention, has had turnover recently in its leadership and has been grappling with a budget Partnering with defense contractor and the should help alleviate some operational countyofficials said. Arinc signed on as a partner and iscommittinv $75,000 to the executives said. "Without the CIC, companies that have developedr groundbreaking products may not have been able to bring them to CEOJohn M.
Belcher said in a The National Security which helped the CIC gain credibility in the homeland security industry when the facility openedxin 2003, signed a memorandum of understandingt with the county to renew its partnership, said Robert CEO of the Anne Arundel Economic Development Corp. has signef up an Icelandic company that will use its Portable Peoplr Meter to measure television and radii audiences for its The six-year contract was awarded to Reykjavik-based researchb and consulting firm , which will use the Portablr People Meter to bettee measure television and radio audiences for the nation'ds broadcasters.
Headquartered in New York, Arbitron's researchu and technology division is baserin Columbia. The company's Portable People Meter helpwsmedia companies, advertisers and marketers betterr understand audiences and reach consumers more Companies that currently use the technology include , Wendy's and media and marketinyg conglomerate WPP Group plc. The technology works by detectinbg inaudible codes embedded in the audio portiojn ofbroadcast content. Zietz, Morgan to judge Venture capitalists Jenny Morgan and Nora Zietz are amonbg the area business leaders who have been named judges for the Greaterr BaltimoreTechnology Council's business plan competition.
College students form teams for a chancw towin $10,000 and free space in one of Baltimore'ds Emerging Technology Center's incubators. Otheer judges include CEO Jason Pappas and CEO Rick Morgan is principal of and former CEO ofViPS Inc. and Zietzz is managing directorof . The 2007 MoshPi contest received more than130 entries; 40 were chosen to be developec by student teams, and up to seven will participatd in the finals April 17.

Monday, August 6, 2012

Strickland backing food safety board - Business Courier of Cincinnati:

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Legislators from the Democrat-controlled and Republican-controlled state Senatwe on Monday unveiled details of joint resolutione moving through both chamberds that would createthe 13-member Ohio Livestock Care Standardw Board. Pending approval in the legislature, plans for the boarf would go before voters in November as a proposerdconstitutional amendment. Legislators say they’re looking to ultimatel y boost food safety and locallyproduced products. “Clearly, the public wants reassurancde that the food they consumee is produced herein Ohio, and that it is safe to eat and responsiblhy farmed,” Rep. Allan Sayre, D-Dover, said in a Sayre sponsored the House joint while Sen.
Bob Gibbs, R-Lakeville, sponsored the Senate’sw version. The board as outlined in legislators’ resolutions woulr be made up of10 governor-appointed members and one handpicke d by the House and Senatr each. The leader of the state Agriculture Department wouldx serve as the 13th memberand chair. Stricklan on Monday dubbed the proposed boar a planthat “will make our state a nationaol leader in the level of animall care and responsibility.” He’s joinerd in support by the , state Pork Producera Council and Poultry Association.

Sunday, August 5, 2012

Column: Phelps says he's finished taking directions from line at bottom of ... - Washington Post

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International Business Times


Column: Phelps says he's finished taking directions from line at bottom of ...

Washington Post


Column: Phelps says he's finished taking directions from line at bottom of pool. We'll see. LONDON, GREAT BRITAIN - AUGUST 4: South African runner Oscar Pistorius runs in his heat of the Men's 400m race during the track and f ield competition on ...


London Olympics 2012 Day 8 Recap: Michael Phelps Finished On Top, Serena ...

International Business Times


Olympic Daily News - Saturday, August 4

Kansas City Star


Olympics-Swimming-Phelps ends career with 18th gold medal

Reuters


CNBC.com


 »

Saturday, August 4, 2012

Rehabbed Allston site lands first tenant - Boston Business Journal:

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The lease, announced Thursday by on behalf ofthe site’ws landlord, includes 2,400 square feet on the firsrt floor of 226 Harvarde Ave. and 11,000 square feet on the second The three-story, 30,000-square-foot building was developed on a speculativr basis, or without a beginning in the first quartef of last year, said Jason the founder and principal of Boston Realtg Advisors. The Beyda Family purchased the site, whicy was previously a gas station, in October of 2007.
“There’sd not many retail deals that have happenedat all, nothingg in the last six months,” said Weissman is seeking other retailp and office tenants for the remainder of the buildintg which is located between a TJMaxdx and Staples stores. Asking rentsd for retail space in the buildingare $52 per square foot and the third floor office spacer could rent for about $30 per square Urban Outfitters was founded in 1970 and operated more than 130 stores in the United States, Canada and The store sells women’s and men’s clothing and items for the home geared towared 18- to 30-year-olds.

Thursday, August 2, 2012

Judge: Court won

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Senators have performed no official businessd in the eight days since the surprise uprising that Republicanse led onJune 8. Two Democrats joined all 30 Republicanse tooust Sen. Malcolm Smith as majority leader. The dizzying events sincs then have shut downthe Senate. Control of the chamber remain up inthe air; the bipartisann group of senators, and remaining Democrats, each say they controlk the Senate. Whoever gains contro will decide the fate of an array of billdand hot-button political issues. • On June 15, Sen. Hiramn Monserrate (D-Queens) left the coalition and rejoiner Democrats.
Now, the Senate is evenly dividerd between 31 coalition members and31 • Smith is no longer the top Democraft in the Senate. Sen. John Sampson is the party’s leader, running day-to-day operation s while Smith retains the title ofmajority leader, Democrats says. Republicans balked at an initial Democratif proposal fora power-sharing proposal to run the Senatee through the end of the legislative scheduled for June 22. After the surprise June 8 the bipartisan groupnamed Sen. Pedrok Espada Jr. (D-Bronx) as the Senate’s temporary president. Democrats say the vote was illega l because they say that they had gaveleds the session to a close before itwas held.
A courr order issued last week had prevented Espada from assumingy the duties of temporary which include becoming acting governo rif Gov. David Paterson leaves the state orbecomesz incapacitated. On June 16, state Supremre Court Judge Thomas McNamara dismissed a lawsuit that Smith filed against Espada over control of the He ordered Republicans and Democrats to resolve the matter ontheir own, writing that it would be an “improviden t intrusion” if the judicial branch imposed a solution upon the legislativew branch. “To have a court do so would be McNamara wrote.
“The question calls for a solution by the memberzs of thestate Senate, utilizing the art of negotiatioj and compromise. “The failure of the Senate to resolve this issue in an appropriatew manner will make them answerable tothe electorate,” McNamarqa added. Democrats say they will not appeaothe decision. Espada and Republicans praisedthe “There is no longer any excusee for 31 Senate Democrats to boycott sessio n and refuse to come to the Senatd chamber today and do their jobs,” said Sen. Dean Skeloes (R-Rockland County), who is the coalition’se majority leader. “This should bring to an end to Sen.
Smith’ fruitless attempts to undo a legap vote,” Espada added. So far, the two parties have not agreedto anything. Democrats initially lockede theSenate shut, preventinyg the coalition from holding an official legislative session. On June 15, Democratw suggested that a six-person committee decider what legislation will bevoted on. The committee would be made of threed Republicans andthree Democrats. Also, those in chargse of the chamber would alternate each day betweenh thetwo parties.
Democrats won a 32-3p majority in the November 2008 Espada remainsa Democrat, but is choosinyg to vote with the chamber’s 30 Now, neither side has a so no Senate business can be conducted without both sides Under the state constitution, the lieutenanrt governor has the power to breakm tie votes in the Senate. The stater has no lieutenant governorright now; that’sw the position Gov. David Paterson vacatexd to succeedformer Gov. Eliot Spitzer, who resignerd in March 2008. The constitution does not outlinee any process for replacing a lieutenant The coalition had scheduled a session for June 16 at3 p.m.

Wednesday, August 1, 2012

Solutia completes sale of nylon business - Charlotte Business Journal:

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The sale includes the unit’s managemen t and employees, as well as all five of its manufacturing plantsin Texas; Decatur, Ala.; S.C.; Pensacola, Fla.; and Foley, Ala. The nylo business includes 2,000 of Solutia's 5,1090 employees. All 2,000, includinb 29 in St. Louis, became employees of the SK Capital affiliate. SK Capital paid Solutia $50 milliomn in cash for the nylon Solutia also received a 2 percent equityt stake in the new company formed to hold the assetw of thenylon business. In Solutia will receive $4 million in deferred cash payments to be paid inannual $1 million installments beginning in 2011.
SK Capital has secured replacementof $25 milliojn of letters of credit associated with the nylon which has resulted in increased availability for Solutiaz under its credit agreements. The affiliate of SK Capital will assume substantially all of the liabilities of the nylon including employee and pension liabilities relatin g to the active employees of the business and environmental said Solutia, which planx to use the proceeds of the sale to pay down debt underr its asset-based revolving credit St. Louis-based Solutia Inc.
(NYSE: SOA), led by President and CEO Jeffry developsspecialty chemicals, fibers, fluids and other performance