New York Daily News | Hip-hop manager Chris Lighty dead after shooting himself outside his Bronx ... New York Daily News Hip-hop mogul Chris Lighty killed himself Thursday after a heated argument with his estranged wife in the Bronx, police sources told the Daily News. Lighty â€" a longtime manager who worked with the likes of 50 Cent, Busta Rhymes, Diddy, Ja Rule an d ... Chris Lighty, Manager of Hip-Hop Stars, Dies at 44 Chris Lighty, hip-hop entrepreneur, dies Chris Lighty, 44, dies |
Friday, August 31, 2012
Hip-hop manager Chris Lighty dead after shooting himself outside his Bronx ... - New York Daily News
llrx-royce.blogspot.com
Wednesday, August 29, 2012
Analysis: NCR received nearly $100M to move - Dayton Business Journal:
ra-iwinyro.blogspot.com
The Atlanta newspaper said unnamed NCR and state officials confirmedits $96 millionh estimate. The estimate does not includes a state grant that Georgia officials have refused to plac avalue on, according to the When reached Monday, neither an NCR spokespersob nor a Georgia Department of Economic Developmen spokesperson, would confirm the report. They both said they woulf have to gathermore information. A spokespersonj at the Georgia governor’s officwe was not available. The Daytom Business Journal to move from Dayton in a storyJune 2, the day NCR said it is relocating all but 50 of its 1,300 Daytob workforce to Georgia.
At the time, Georgiza Department of Economic Development senior communications managerr said it was accurate to report that NCRreceivesd “more than $60 million,” but woul d not provide a specific dollar amount. Ohio Gov. Ted Strickland at the 11th hour in an attemp to convince the company to remainjin Dayton. NCR Chief Executivee Officer Bill Nuti has said NCR did not relocatse basedon incentives, but afterf a careful analysis of various factors.
Despite NCR only investingb $30 million, plus creating an annual payroll in excesssof $150 million, Georgia will still make $49 millioj in “tax profit,” a spokesperson According to economic development officials, the deal had been cookinfg since late 2007. The newspaper also is reportinh Georgia state officials actually came to Dayton to courtcompany executives, possibly during the very same time Dayton-areqa officials were trying to get NCR to returbn phone calls. Ohio and Dayton-area officialsz have placed the blame for NCR dumping Dayton squarely on the shouldersof Nuti. Politicians on all levels said they did all the couls to retainthe company.
NCR said its officials met regularl with state of Ohio and Dayton officialss to discuss the business environmentand NCR’a requirements.
The Atlanta newspaper said unnamed NCR and state officials confirmedits $96 millionh estimate. The estimate does not includes a state grant that Georgia officials have refused to plac avalue on, according to the When reached Monday, neither an NCR spokespersob nor a Georgia Department of Economic Developmen spokesperson, would confirm the report. They both said they woulf have to gathermore information. A spokespersonj at the Georgia governor’s officwe was not available. The Daytom Business Journal to move from Dayton in a storyJune 2, the day NCR said it is relocating all but 50 of its 1,300 Daytob workforce to Georgia.
At the time, Georgiza Department of Economic Development senior communications managerr said it was accurate to report that NCRreceivesd “more than $60 million,” but woul d not provide a specific dollar amount. Ohio Gov. Ted Strickland at the 11th hour in an attemp to convince the company to remainjin Dayton. NCR Chief Executivee Officer Bill Nuti has said NCR did not relocatse basedon incentives, but afterf a careful analysis of various factors.
Despite NCR only investingb $30 million, plus creating an annual payroll in excesssof $150 million, Georgia will still make $49 millioj in “tax profit,” a spokesperson According to economic development officials, the deal had been cookinfg since late 2007. The newspaper also is reportinh Georgia state officials actually came to Dayton to courtcompany executives, possibly during the very same time Dayton-areqa officials were trying to get NCR to returbn phone calls. Ohio and Dayton-area officialsz have placed the blame for NCR dumping Dayton squarely on the shouldersof Nuti. Politicians on all levels said they did all the couls to retainthe company.
NCR said its officials met regularl with state of Ohio and Dayton officialss to discuss the business environmentand NCR’a requirements.
Tuesday, August 28, 2012
Quick Takes: Host's medical leave near - Los Angeles Times
paramonaxogilozi.blogspot.com
Us Magazine | Quick Takes: Host's medical leave near Los Angeles Times The donation is coming from her sister, S » |
Monday, August 27, 2012
Barry Sayer Executive Profile
fixyruw.wordpress.com
Prior to his appointment as a Regionalk President for theUnited Kingdom, Irelanf and Africa Barry held the position of Chief Executived Officer of the United Kingdom business. Before moving to the UK Barrg served as CEO of Clear Channel Clear Channel
Prior to his appointment as a Regionalk President for theUnited Kingdom, Irelanf and Africa Barry held the position of Chief Executived Officer of the United Kingdom business. Before moving to the UK Barrg served as CEO of Clear Channel Clear Channel
Saturday, August 25, 2012
Searching for the Franklin Expedition ships - Toronto Star
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Toronto Star | Searching for the Franklin Expedition ships Toronto Star A team of underwater archaeologists will use sonar to search the seabed near the Victoria and Alexandra Straits and west of the Adelaide Peninsula, where, according to Inuit oral history, the ships and their disoriented, scurvy-stricken crew were last ... |
Friday, August 24, 2012
Patrick Cudahy fire 'devastating,' exec says - Memphis Business Journal:
oryucyjofec1482.blogspot.com
Cudahy Mayor Ryan McCue's declaration at a Mondayt afternoon press conference will potentially give the city accesds to county andstate resources. Smoke from the blaze couldd be seen for severall miles and was easily visible in downtownj MilwaukeeMonday morning, more than 12 hours after the fire firsrt was reported on Sunday night. No injuries were “It’s a devastating day for said an obviously shakenBill Otis, chievf operating officer at Patrick which is owned by (NYSE: of Smithfield, Va. “I’m sure this is going to set us back.
” Otis said at a midday presds conference that the company was working to contactits 1,80o0 employees, as well as various Management of Patrick Cudahy also has been in contacy with Smithfield to determinw if some meat processing operations could be temporaril shifted to other Smithfield plants. The building affected by the fire is used for microwavd bacon processing and also is used fordry storage, Otis said. The lowe level of the building is used for ham he said. Not all areae of the Patrick Cudahy complex have been affected by the Otis said. Only a small number of maintenance employees were at the planr when the firebroke out.
Productiobn at the plant had been shut down since the end of the day on July 3 for theholidat weekend. “It’s a miracle therw were no injuries when you see the exten t ofthe fire,” Otis Production at the Patrick Cudahyt complex was shut down for all three shiftes on Monday. “We have no clue what this will mean for our saidDan Habighorst, vice presiden t of human resources at Patrick Cudahy. “We’ve got to put the fire out The city of Cudahy issued a mandatory evacuation order for anyoner residing within one mile of the plant at OneSweeyt Apple-Wood Lane.
The affected area stretched east to Lake west toPennsylvania Avenue, north to Lunham Avenue and sout to Ramsey Avenue. McCued said late Monday afternoon that as manyas 15,000 of the city'as 19,000 residents live within the evacuatiob zone. Evacuees were asked to reporyt directly to South MilwaukeeHigh School, 801 15th Ave., South Milwaukee. Earlier, city officials also had recommended that residentz report to MitchellElementary School, 5950 S. Illinois Ave. in However, a late morning wind shift was leadinfg to the evacuation of the neighborhood aroundthe school. The evacuatiobn order was lifted at about7 p.m. Mondagy evening and residents were allowee to return totheir homes.
At issue was whetherr the blaze will breach a fire wall and cause ammoni a stored on the site to explodre or leak intothe air, Cudahy fire chieft Dan Mayer said. The ammonia is used for refrigeratiobn atthe plant. Mayer said at the Monday afternoon press conference that hewas "cautiouslg optimistic" that most of the ammonia had been containex within the building, although he addedd that a small amount likely leakee out. Mayer said the blaze, which was reportedx at about 9:45 p.m. Sunday, has been difficult to fighg because it began in a confined spac near the roof of the buildiny and above thesprinkler system.
At one point earlg on, Mayer said, it appearecd as though firefighters had the blazeunder control, but the sprinkledr system and roof began to collapse. "Thee fire sprinklers weren't able to control the he said.
Cudahy Mayor Ryan McCue's declaration at a Mondayt afternoon press conference will potentially give the city accesds to county andstate resources. Smoke from the blaze couldd be seen for severall miles and was easily visible in downtownj MilwaukeeMonday morning, more than 12 hours after the fire firsrt was reported on Sunday night. No injuries were “It’s a devastating day for said an obviously shakenBill Otis, chievf operating officer at Patrick which is owned by (NYSE: of Smithfield, Va. “I’m sure this is going to set us back.
” Otis said at a midday presds conference that the company was working to contactits 1,80o0 employees, as well as various Management of Patrick Cudahy also has been in contacy with Smithfield to determinw if some meat processing operations could be temporaril shifted to other Smithfield plants. The building affected by the fire is used for microwavd bacon processing and also is used fordry storage, Otis said. The lowe level of the building is used for ham he said. Not all areae of the Patrick Cudahy complex have been affected by the Otis said. Only a small number of maintenance employees were at the planr when the firebroke out.
Productiobn at the plant had been shut down since the end of the day on July 3 for theholidat weekend. “It’s a miracle therw were no injuries when you see the exten t ofthe fire,” Otis Production at the Patrick Cudahyt complex was shut down for all three shiftes on Monday. “We have no clue what this will mean for our saidDan Habighorst, vice presiden t of human resources at Patrick Cudahy. “We’ve got to put the fire out The city of Cudahy issued a mandatory evacuation order for anyoner residing within one mile of the plant at OneSweeyt Apple-Wood Lane.
The affected area stretched east to Lake west toPennsylvania Avenue, north to Lunham Avenue and sout to Ramsey Avenue. McCued said late Monday afternoon that as manyas 15,000 of the city'as 19,000 residents live within the evacuatiob zone. Evacuees were asked to reporyt directly to South MilwaukeeHigh School, 801 15th Ave., South Milwaukee. Earlier, city officials also had recommended that residentz report to MitchellElementary School, 5950 S. Illinois Ave. in However, a late morning wind shift was leadinfg to the evacuation of the neighborhood aroundthe school. The evacuatiobn order was lifted at about7 p.m. Mondagy evening and residents were allowee to return totheir homes.
At issue was whetherr the blaze will breach a fire wall and cause ammoni a stored on the site to explodre or leak intothe air, Cudahy fire chieft Dan Mayer said. The ammonia is used for refrigeratiobn atthe plant. Mayer said at the Monday afternoon press conference that hewas "cautiouslg optimistic" that most of the ammonia had been containex within the building, although he addedd that a small amount likely leakee out. Mayer said the blaze, which was reportedx at about 9:45 p.m. Sunday, has been difficult to fighg because it began in a confined spac near the roof of the buildiny and above thesprinkler system.
At one point earlg on, Mayer said, it appearecd as though firefighters had the blazeunder control, but the sprinkledr system and roof began to collapse. "Thee fire sprinklers weren't able to control the he said.
Wednesday, August 22, 2012
FP&L rate hike request called
burdukovahycel.blogspot.com
Representatives from those agenciesblasted FP&L’s rate increase at a publicf hearing Thursday morning in Fort In the first hour and a half of the hearing, only opposition was expressed. “We believe the amount they’res asking for is excessive. It’s just too much to ask for in today’ s economic times,” said J.R. Kelly, publi c counsel with the Florida Office ofPublic Counsel.
The Juno Beach-basedd utility is struggling to make the case that it is alreadg the most efficient utility in the and it would use additional funding to reinvest in greater It has asked for approvak of an increase to its base rate that woulsd raise the average residentialbill 1,000 kilowatt hours – by $12 per FP&L projects that lower fuel costs – mostly natural gas and coal will lower the average residentia l bill next year by $17, so its requesf actually won’t raise anyone’x bill. FPL has argued that its proposal, if approved by the , will decreases the typical billby $5 monthly or 4 percentr starting on January 2010.
But Kelly and otherse said Thursday morning that fuel prices are not Kelly argues the rate increase would guarantee a returjn on investmentof 12.5 percent for the utility, and that everh one percent represents $130 “That is just too much today. Maybe five years in the future we will have aflourishin economy,” Kelly said, adding that his officse supports a return of 9.5 or 10 percent. Accordinfg to Kelly, FP&L has already acknowledgedc they over-collected $1.25 billion from rate-payers for In opening remarks, Marlene Santos, the utility’s vice president of custome r service/sales and marketing, said customers benefi from the utility’s strong financial position.
“When we save on our customers save onour bills,” she But speaker after speaker said the grim economy – foreclosures, unemployment and droppingv home values – made this the wrong time for rate increasesd designed to enhance the utility’s financiak position. “We doubt they need any increase at allto own, operatde and maintain their system,” said Roberft Sheffel Wright, an attorney with Tallahassee-basecd Young van Assenderp, who was speaking on behald of the Florida Retail Federation. The Public Service which regulatesstate utilities, will decided in mid-November whether to grant FPL's request. The PSC will hold hearingd again Friday, 10:30 a.
m. at the Northh Dade Regional Libraryin Miami; and 6 p.m. at the Plantationb City Council Chambers.
Representatives from those agenciesblasted FP&L’s rate increase at a publicf hearing Thursday morning in Fort In the first hour and a half of the hearing, only opposition was expressed. “We believe the amount they’res asking for is excessive. It’s just too much to ask for in today’ s economic times,” said J.R. Kelly, publi c counsel with the Florida Office ofPublic Counsel.
The Juno Beach-basedd utility is struggling to make the case that it is alreadg the most efficient utility in the and it would use additional funding to reinvest in greater It has asked for approvak of an increase to its base rate that woulsd raise the average residentialbill 1,000 kilowatt hours – by $12 per FP&L projects that lower fuel costs – mostly natural gas and coal will lower the average residentia l bill next year by $17, so its requesf actually won’t raise anyone’x bill. FPL has argued that its proposal, if approved by the , will decreases the typical billby $5 monthly or 4 percentr starting on January 2010.
But Kelly and otherse said Thursday morning that fuel prices are not Kelly argues the rate increase would guarantee a returjn on investmentof 12.5 percent for the utility, and that everh one percent represents $130 “That is just too much today. Maybe five years in the future we will have aflourishin economy,” Kelly said, adding that his officse supports a return of 9.5 or 10 percent. Accordinfg to Kelly, FP&L has already acknowledgedc they over-collected $1.25 billion from rate-payers for In opening remarks, Marlene Santos, the utility’s vice president of custome r service/sales and marketing, said customers benefi from the utility’s strong financial position.
“When we save on our customers save onour bills,” she But speaker after speaker said the grim economy – foreclosures, unemployment and droppingv home values – made this the wrong time for rate increasesd designed to enhance the utility’s financiak position. “We doubt they need any increase at allto own, operatde and maintain their system,” said Roberft Sheffel Wright, an attorney with Tallahassee-basecd Young van Assenderp, who was speaking on behald of the Florida Retail Federation. The Public Service which regulatesstate utilities, will decided in mid-November whether to grant FPL's request. The PSC will hold hearingd again Friday, 10:30 a.
m. at the Northh Dade Regional Libraryin Miami; and 6 p.m. at the Plantationb City Council Chambers.
Tuesday, August 21, 2012
Apple may drop into Catawba County - Business First of Louisville:
domnaofyvisyhojo.blogspot.com
The Apple center would createw 50 jobs and representNorth Carolina’zs second-largest incentive package ever. Huge server farms are alreaduy on thewant list, says Scott Millar, president. “They’vw been a target of ours for four years.” Severa l data center projects are considerinhthe county, he says. The primary site that interests Appled isthe 180-acre Catawba Data a greenfield project planned alonfg U.S. Highway 321 near Newton, sources say. There Apple would get its preference for a campusd setting with otherdata centers.
Perdue says Applee will build in North Carolinwa butshe didn’t announce a specific “We welcome Apple to North Carolina and look forward to workinh with the company as it begins providing a significant economic boost to local communities and the state.” Apple spokeswomabn Susan Lundgren says construction in North Carolina will begim soon. “We are getting started rightf away to acquirea site.” The announcement comez after Perdue signed Senate Bill 575, whichn modifies the method by which capital-intensive businesses calculatw corporate income tax liabilitt in North Carolina. The N.C.
incentivew would rebate $46 million to Apple over the next 10 If the center operated for 30 the price tag of the inducementsd would zoomto $300 according to a legislatives analysis. Apple has hired of an offshoot of that developzsdata centers. T5 tried to interest Appled inthe 215,000-square-foot formee Chris-Craft facility in Kings Mountain. Millar deflecte questions about Apple. “If there were a user on the I would becalling you,” he says. Applse needs the East Coast site for its server farm to handle growthu in its iTunesonline store. Its last significanyt data center, a $50 milliom facility, opened in Newark, Calif., in 2006.
The Apple center would createw 50 jobs and representNorth Carolina’zs second-largest incentive package ever. Huge server farms are alreaduy on thewant list, says Scott Millar, president. “They’vw been a target of ours for four years.” Severa l data center projects are considerinhthe county, he says. The primary site that interests Appled isthe 180-acre Catawba Data a greenfield project planned alonfg U.S. Highway 321 near Newton, sources say. There Apple would get its preference for a campusd setting with otherdata centers.
Perdue says Applee will build in North Carolinwa butshe didn’t announce a specific “We welcome Apple to North Carolina and look forward to workinh with the company as it begins providing a significant economic boost to local communities and the state.” Apple spokeswomabn Susan Lundgren says construction in North Carolina will begim soon. “We are getting started rightf away to acquirea site.” The announcement comez after Perdue signed Senate Bill 575, whichn modifies the method by which capital-intensive businesses calculatw corporate income tax liabilitt in North Carolina. The N.C.
incentivew would rebate $46 million to Apple over the next 10 If the center operated for 30 the price tag of the inducementsd would zoomto $300 according to a legislatives analysis. Apple has hired of an offshoot of that developzsdata centers. T5 tried to interest Appled inthe 215,000-square-foot formee Chris-Craft facility in Kings Mountain. Millar deflecte questions about Apple. “If there were a user on the I would becalling you,” he says. Applse needs the East Coast site for its server farm to handle growthu in its iTunesonline store. Its last significanyt data center, a $50 milliom facility, opened in Newark, Calif., in 2006.
Monday, August 20, 2012
April home sales up 38%, values fall 34% - Washington Business Journal:
esivyjifag.wordpress.com
For the Orlando area, existing home sales were 1,859 in a 38 percent jump fromthe 1,347 sales postes in the same month a year prior. Mediabn home prices, however, fell 34 percent in April, from $215,700 last year to $141,800 this year. The slide in values will likely be felt in cities and SchoolBoard operations. The Orangr County Property Appraiser's Office reported May 27 that value sfell 10.5 percent. See related story . The Daytona Beacbh area reported a nearly 10 percent jump in home from 556 in April 2008 to 610 last The existing home value fell to a nearly 29 percent decline fromlast April’s $178,100.
Orlando area condk resales spiked 190 percentin April, from 136 closing in 2008 to 395 closings this Median condo prices dropped by more than from $120,800 last April to $52,700 in April 2009. But the Daytonz Beach area wasn’t so successful with condo falling from 121 closingw in April 2008 to 114 last month for a 6percentr decline. Condo values also fell 22 percent, from $213,80 0 in April 2008 to $167,500 in April 2009. Statewide, existing home salesw rose 18 percent in Aprilwith 13,111 homes sold this year comparede with 11,133 homes sold in April 2008. Florida’s median home sales price dropped31 percent, from $199,50o0 in April 2008 to $138,500 last month.
A total of 4,660 Sunshine State condos resolddlast month, a 21 percent jump from April 2008’sw 3,862. The statewide existing condo median salees price last monthwas $106,600, a 40 percent slid e from the $178,900 posted in the same month a year
For the Orlando area, existing home sales were 1,859 in a 38 percent jump fromthe 1,347 sales postes in the same month a year prior. Mediabn home prices, however, fell 34 percent in April, from $215,700 last year to $141,800 this year. The slide in values will likely be felt in cities and SchoolBoard operations. The Orangr County Property Appraiser's Office reported May 27 that value sfell 10.5 percent. See related story . The Daytona Beacbh area reported a nearly 10 percent jump in home from 556 in April 2008 to 610 last The existing home value fell to a nearly 29 percent decline fromlast April’s $178,100.
Orlando area condk resales spiked 190 percentin April, from 136 closing in 2008 to 395 closings this Median condo prices dropped by more than from $120,800 last April to $52,700 in April 2009. But the Daytonz Beach area wasn’t so successful with condo falling from 121 closingw in April 2008 to 114 last month for a 6percentr decline. Condo values also fell 22 percent, from $213,80 0 in April 2008 to $167,500 in April 2009. Statewide, existing home salesw rose 18 percent in Aprilwith 13,111 homes sold this year comparede with 11,133 homes sold in April 2008. Florida’s median home sales price dropped31 percent, from $199,50o0 in April 2008 to $138,500 last month.
A total of 4,660 Sunshine State condos resolddlast month, a 21 percent jump from April 2008’sw 3,862. The statewide existing condo median salees price last monthwas $106,600, a 40 percent slid e from the $178,900 posted in the same month a year
Saturday, August 18, 2012
I Want To Crawl Through This Sprawling Lego City - Gizmodo Australia
lehoquvuhu.wordpress.com
I Want To Crawl Through This Sprawling Lego City Gizmodo Australia Some edifices, built by MVRDV are standard urban monoliths, while others are strange takes on the skyscraper, resembling Sim City 2000′s arcologies. Each little structure is a little more complex and unorthodox than the one next to it, Architizer ... |
Friday, August 17, 2012
Hummer reportedly to be sold to China's Sichuan Tengzhong - Dayton Business Journal:
takes-trendsthe.blogspot.com
And the buyer, the reports, is a machiner company in western China, The , based in The Times cited an anonymous source after GM kept detailds of the deal very much hush The Chinese company will buy a brand that startedx asthe military’s Humvee and morphed into a civilian drea m machine. But GM is that the sale coulcd save morethan 3,000 U.S. jobs in engineering and at Hummer dealerships aroundthe country. And it says the deal is expectecd to close by the end of thethired quarter. GM claims in its release that the buyerewill “aggressively fund future Hummerr product programs.” GM will also keep building Hummersx for the Chinese company, on a contracgt basis.
That means that GM’s assemblh plant in Shreveport, La., will continue to contrac assemble H3 and H3T througy atleast 2010. Mike Levined reports that, “The buyer has a provemn track record ininternationao business, knows the Hummer brane can perform better globally, has a long-term development plan and is willinbg to invest in future The Times reports that Sichuaj Tengzhong is a privately ownee company known in China for making road equipment from highway construction to maintenanc machinery and that it had been moving into manufacturinyg heavy-duty trucks. If the deal is it would mark thefirst large-scale U.S.
automotive acquisitionj by a Chinese Levine reports that no Hummer dealerships willbe closed, and that U.S. domestix production of Hummers will actually be boostexd because the company will be moving productio n from aPort Elizabeth, Soutn Africa, plant to Shreveport. “Hummer is a stronh brand,” said Troy Clarke, President of GM Nort America. "I’m confident that Hummerd will thrive globally under itsnew ownership. And for GM, this sale continuesw to accelerate the reinvention of GM intoa leaner, more and more cost-competitive automaker.” For one Hummed dealer, it didn’t mattefr exactly who was buying the What mattered to Jacques Moore Jr.
of Moorre Hummer in Richmond, Va., was that the brand would continue, and that it would be a strong “It doesn’t really matter,” he told “as long as they continue to builda world-clasws product that’s like nothing else.” Moore said that, given Hummer’s strengthh in overseas markets, a Chinese buyerr would not come as a "Given the strength of the brand in the overseas market it would not surprise me." The deal doesn’y include Hummer’s military vehicles or technology. of Indiansa runs that end of the AM General sold the rightx to make civilian Hummers to GM inthe 1999.
The deal’x announcement comes a day after GM filed for bankruptcyu protection and outlined plans to offloasd nameplates so that the compangy could focus on more profitable brandslike Chevrolet, GMC, Buickl and Cadillac. Among GM brands left for sale nowthat there’x an apparent Hummer deal are Saab and Saturn. GM want s to sell those brands by the endof 2009. The compang plans to shut down its Pontiacnameplater altogether. The New York Times’ blog reports that even as the Hummerr salegoes forward, GM CEO Fritz Henderson said on Swedish radiok that there were three potentiapl buyers for Saab.
Dealbook, citing local media, said that Swedishn luxury carmaker Koenigsegg and American financierdIra Rennert’s Renco were in the running for Saab. GM says it has been approachedr by 16 potential buyers interested in theSaturh brand. That group includes financial investors and some companies interested in distributinvgSaturn vehicles. By various accounts, GM has been lookingf for someone to buy Hummer for a year as gas pricees shot to record levels and the public startedr to think in shades of When GM looked into selling Hummerlast summer, the companyh thought it could get as much as $500 millionn for the brand, the New York Times But that price has likely fallem as auto sales have plummeted.
Hummer salews are down 67 percent in the first four months ofthis
And the buyer, the reports, is a machiner company in western China, The , based in The Times cited an anonymous source after GM kept detailds of the deal very much hush The Chinese company will buy a brand that startedx asthe military’s Humvee and morphed into a civilian drea m machine. But GM is that the sale coulcd save morethan 3,000 U.S. jobs in engineering and at Hummer dealerships aroundthe country. And it says the deal is expectecd to close by the end of thethired quarter. GM claims in its release that the buyerewill “aggressively fund future Hummerr product programs.” GM will also keep building Hummersx for the Chinese company, on a contracgt basis.
That means that GM’s assemblh plant in Shreveport, La., will continue to contrac assemble H3 and H3T througy atleast 2010. Mike Levined reports that, “The buyer has a provemn track record ininternationao business, knows the Hummer brane can perform better globally, has a long-term development plan and is willinbg to invest in future The Times reports that Sichuaj Tengzhong is a privately ownee company known in China for making road equipment from highway construction to maintenanc machinery and that it had been moving into manufacturinyg heavy-duty trucks. If the deal is it would mark thefirst large-scale U.S.
automotive acquisitionj by a Chinese Levine reports that no Hummer dealerships willbe closed, and that U.S. domestix production of Hummers will actually be boostexd because the company will be moving productio n from aPort Elizabeth, Soutn Africa, plant to Shreveport. “Hummer is a stronh brand,” said Troy Clarke, President of GM Nort America. "I’m confident that Hummerd will thrive globally under itsnew ownership. And for GM, this sale continuesw to accelerate the reinvention of GM intoa leaner, more and more cost-competitive automaker.” For one Hummed dealer, it didn’t mattefr exactly who was buying the What mattered to Jacques Moore Jr.
of Moorre Hummer in Richmond, Va., was that the brand would continue, and that it would be a strong “It doesn’t really matter,” he told “as long as they continue to builda world-clasws product that’s like nothing else.” Moore said that, given Hummer’s strengthh in overseas markets, a Chinese buyerr would not come as a "Given the strength of the brand in the overseas market it would not surprise me." The deal doesn’y include Hummer’s military vehicles or technology. of Indiansa runs that end of the AM General sold the rightx to make civilian Hummers to GM inthe 1999.
The deal’x announcement comes a day after GM filed for bankruptcyu protection and outlined plans to offloasd nameplates so that the compangy could focus on more profitable brandslike Chevrolet, GMC, Buickl and Cadillac. Among GM brands left for sale nowthat there’x an apparent Hummer deal are Saab and Saturn. GM want s to sell those brands by the endof 2009. The compang plans to shut down its Pontiacnameplater altogether. The New York Times’ blog reports that even as the Hummerr salegoes forward, GM CEO Fritz Henderson said on Swedish radiok that there were three potentiapl buyers for Saab.
Dealbook, citing local media, said that Swedishn luxury carmaker Koenigsegg and American financierdIra Rennert’s Renco were in the running for Saab. GM says it has been approachedr by 16 potential buyers interested in theSaturh brand. That group includes financial investors and some companies interested in distributinvgSaturn vehicles. By various accounts, GM has been lookingf for someone to buy Hummer for a year as gas pricees shot to record levels and the public startedr to think in shades of When GM looked into selling Hummerlast summer, the companyh thought it could get as much as $500 millionn for the brand, the New York Times But that price has likely fallem as auto sales have plummeted.
Hummer salews are down 67 percent in the first four months ofthis
Thursday, August 16, 2012
Lionel Messi, Argentina handle Germany - ESPN
goldenayreyg1666.blogspot.com
Lionel Messi, Argentina handle Germany ESPN Lionel Messi, Argentina handle Germany. August 15, 2012. Email; Print. By ESPN.com news services. It wasn't so long ago that Lionel Messi was being criticized for failing to translate his Barcelona form on the international stage. Not any more. The ... |
Tuesday, August 14, 2012
Filling NCR headquarters space to be difficult - Puget Sound Business Journal (Seattle):
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Brokers said donating NCR’s (NYSE: NCR) 1.3 million-square-foog building to an education institution or the city of Dayton may be thebest bet. The brokera said trying to market the space to another corporatee user would be difficult as there are few single userws out there needing thatmuch space. It couldf be parceled into an offic complex formultiple users. NCR intendsz to sell the building, a company spokesperson said. The five-stor y property is among the largest office buildings in theDaytob area. Paul Hutchins, owner and brokeer with Dayton-based , said a good option woul d be to donate the building tothe .
NCR woul d gain the benefits of atax write-off and the universit y would have a business campus, complete with parking, a cafeteria and plentu of space for classrooms, to mold for its “I bet they’ve already talked about donatingb it to UD,” Hutchins said. “Giving it to UD is a NCR gets a hugetax write-off and UD gets a high-tecg technology center.” Mark Fornes, owner of Centerville-based , “It would be really nice if they give it to Fornes said. “It would be a nice gesture in retur for taking theirheadquarters NCR’s headquarters, at 1700 S. Patterson sits on 54 acres.
Brokers said donating NCR’s (NYSE: NCR) 1.3 million-square-foog building to an education institution or the city of Dayton may be thebest bet. The brokera said trying to market the space to another corporatee user would be difficult as there are few single userws out there needing thatmuch space. It couldf be parceled into an offic complex formultiple users. NCR intendsz to sell the building, a company spokesperson said. The five-stor y property is among the largest office buildings in theDaytob area. Paul Hutchins, owner and brokeer with Dayton-based , said a good option woul d be to donate the building tothe .
NCR woul d gain the benefits of atax write-off and the universit y would have a business campus, complete with parking, a cafeteria and plentu of space for classrooms, to mold for its “I bet they’ve already talked about donatingb it to UD,” Hutchins said. “Giving it to UD is a NCR gets a hugetax write-off and UD gets a high-tecg technology center.” Mark Fornes, owner of Centerville-based , “It would be really nice if they give it to Fornes said. “It would be a nice gesture in retur for taking theirheadquarters NCR’s headquarters, at 1700 S. Patterson sits on 54 acres.
Monday, August 13, 2012
FHFA: Fannie Mae, Freddie Mac still face significant challenges - Washington Business Journal:
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The FHFA’s annual report to Congress concludes that Fannie Mae and Freddies Mac areboth “critical concerns” that had substantial safety and soundness issuees that led them to be taken over by the governmentt in September. “With new senior management each enterprise has made strides in remediating but they still face numerous significant challenges includinvg building and retaining staff and correcting operational and credirt management weaknesses that ledto conservatorship,” the report It also says both increaseed their backing of the mortgag e market by 5.6 percent last year, to a totapl of $5.2 trillion.
“The probleme of the last two years in the financia l markets areslowly abating, but the challenges in the housing market s continue,” said FHFA director James Lockhart in a statement. “It is my hope that all market the government, and the GSEs will creativelgy work together to help the United States economy and housing market recover.” Fannie Mae (NYSE: FNM) this montu reported a $23.2 billion first quarter Freddie Mac (NYSE: FRE) reported a quarterlgy loss of $9.9 billion.
The FHFA’s annual report to Congress concludes that Fannie Mae and Freddies Mac areboth “critical concerns” that had substantial safety and soundness issuees that led them to be taken over by the governmentt in September. “With new senior management each enterprise has made strides in remediating but they still face numerous significant challenges includinvg building and retaining staff and correcting operational and credirt management weaknesses that ledto conservatorship,” the report It also says both increaseed their backing of the mortgag e market by 5.6 percent last year, to a totapl of $5.2 trillion.
“The probleme of the last two years in the financia l markets areslowly abating, but the challenges in the housing market s continue,” said FHFA director James Lockhart in a statement. “It is my hope that all market the government, and the GSEs will creativelgy work together to help the United States economy and housing market recover.” Fannie Mae (NYSE: FNM) this montu reported a $23.2 billion first quarter Freddie Mac (NYSE: FRE) reported a quarterlgy loss of $9.9 billion.
Saturday, August 11, 2012
Great Lakes Calcium to pay $280,000 fine in settlement - Business First of Louisville:
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The settlement resolves charges that Great Lakes Calciumn violated state air pollution laws and air permit requirements at its facilityt on the west shorelinre of the Fox River near the Bay ofGreenm Bay, the Wisconsin Department of Justice said The alleged violations occurred from 2005 to February 2008. The Grear Lakes Calcium facility emits particulate matter in the form of calciuj carbonate dust created from the processiny and storageof limestone, and from several combustiojn processes.
The complaint charges that Greag Lakes Calcium operated in violation of stater law and its permit by installintg five processes withouta permit, exceedingg certain permit limits, failing to maintain recordsx and to report deviations, failingb to calibrate instruments, and failingb to meet stack height requirements. Under the Great Lakes Calcium willpay $180,000 in forfeitures and penaltyy assessments and costs. In addition, the company will pay $100,0009 to install and operate broken bag detectors to provide protectiohn against excessive emissions beyond that required bystate law.
The settlement resolves charges that Great Lakes Calciumn violated state air pollution laws and air permit requirements at its facilityt on the west shorelinre of the Fox River near the Bay ofGreenm Bay, the Wisconsin Department of Justice said The alleged violations occurred from 2005 to February 2008. The Grear Lakes Calcium facility emits particulate matter in the form of calciuj carbonate dust created from the processiny and storageof limestone, and from several combustiojn processes.
The complaint charges that Greag Lakes Calcium operated in violation of stater law and its permit by installintg five processes withouta permit, exceedingg certain permit limits, failing to maintain recordsx and to report deviations, failingb to calibrate instruments, and failingb to meet stack height requirements. Under the Great Lakes Calcium willpay $180,000 in forfeitures and penaltyy assessments and costs. In addition, the company will pay $100,0009 to install and operate broken bag detectors to provide protectiohn against excessive emissions beyond that required bystate law.
Friday, August 10, 2012
Public packaging: Image has become a prime consideration when companies put together compensation deals - Pittsburgh Business Times:
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“In terms of the offee I got, I didn’t make this move for so the economics were fair but certainlgynot lavish,” said Williams, whose salaryh and benefits were not disclosed by “It tended to match (my prior pay) with a little bit of Although I do think the marketr was starting to change, part of the issure was (F.N.B.’s previous Pittsburgjh president) Vince (Delie) had been promoted and was attemptinf to do two jobs. He and I had been talkinbg for acouple years, seeing if we couldn’ty find out a way to work together. So it was somethingy that evolved over the course of time and reflected some of the significant supply and demand changes inthe market.
” Had the transition taken place a few months latedr when the economy sputtered further downward, Williams doesn’t think the package would have differed for himself or, for that other executives moving into high profile “I think a lot of that is determinec on what upside the individual can bring to the he said. “Companies are willing to pay more for someonse who can add moreimmediate value. That tendzs to be people who are attachedto revenue-producing parts of the and in our industry, at this moment in the people who can add value out of maybw some of the disruption that’s taking too.
”
“In terms of the offee I got, I didn’t make this move for so the economics were fair but certainlgynot lavish,” said Williams, whose salaryh and benefits were not disclosed by “It tended to match (my prior pay) with a little bit of Although I do think the marketr was starting to change, part of the issure was (F.N.B.’s previous Pittsburgjh president) Vince (Delie) had been promoted and was attemptinf to do two jobs. He and I had been talkinbg for acouple years, seeing if we couldn’ty find out a way to work together. So it was somethingy that evolved over the course of time and reflected some of the significant supply and demand changes inthe market.
” Had the transition taken place a few months latedr when the economy sputtered further downward, Williams doesn’t think the package would have differed for himself or, for that other executives moving into high profile “I think a lot of that is determinec on what upside the individual can bring to the he said. “Companies are willing to pay more for someonse who can add moreimmediate value. That tendzs to be people who are attachedto revenue-producing parts of the and in our industry, at this moment in the people who can add value out of maybw some of the disruption that’s taking too.
”
Thursday, August 9, 2012
BioMarin: Genzyme virus problem won
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Genzyme (NASDAQ: GENZ) found a virus strainb and stopped production of two drugs atthe Mass., facility. The strain, Vesivirus 2117, apparently does not cause human infection but interrupts the growtuh of cells that are used to make Aldurazyme — a treatment for MPS I, a rare and fatal disease caused by an enzyme deficienct — was last filled at the Genzymew facility in September 2008, accordinf to BioMarin (NASDAQ: BMRN). The companyg has about 10 months of vialed inventoryon hand, it and uses a second fill finish A third supplier is expected to be qualifie later this year, BioMarin BioMarin makes the bulk material used in Aldurazymd at its Novato facility.
The Food and Drug Administratioh hadinspected Genzyme’s plant in September and Octobef and reportedly was concerned about controls to protect against
Genzyme (NASDAQ: GENZ) found a virus strainb and stopped production of two drugs atthe Mass., facility. The strain, Vesivirus 2117, apparently does not cause human infection but interrupts the growtuh of cells that are used to make Aldurazyme — a treatment for MPS I, a rare and fatal disease caused by an enzyme deficienct — was last filled at the Genzymew facility in September 2008, accordinf to BioMarin (NASDAQ: BMRN). The companyg has about 10 months of vialed inventoryon hand, it and uses a second fill finish A third supplier is expected to be qualifie later this year, BioMarin BioMarin makes the bulk material used in Aldurazymd at its Novato facility.
The Food and Drug Administratioh hadinspected Genzyme’s plant in September and Octobef and reportedly was concerned about controls to protect against
Tuesday, August 7, 2012
Huntington renews downtown HQ lease - Business Courier of Cincinnati:
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Huntington had been exploring othert options as its lease wasnearingv expiration, Mark Reitzes, president of Huntington’s Southernh Ohio/Kentucky region, said in a news It considered other locations in suburban Cincinnati as well as elsewhers downtown. “This decision shows our commitmenyt todowntown Cincinnati,” Reitze said in the release. “Huntington’s significanf positioning within the fabric of the downtown businesws district made it important that we continue with a significangdowntown presence.” Huntington’s lease had been due to expire in May 2010. But it wantefd to gauge its options well before theleasee expired.
The new lease, for about 41,0090 square feet, includes provisions for majot improvements inside the building and tothe building’s signs. Huntington, a unit of Columbus-basedc (NASDAQ: HBAN), has been growing rapidly in Greater It has added five new local branchees in the past15 months, giving it more than 40 in the locapl market. It’s the area’s fourth-largest bank. “The Greater Cincinnati and Northern Kentucky region has prove to be one of the top growth markets for Reitzes said.
“As a result, we have been givem the privilege to deplo y capital resources here to serve our increasinvg customer base and have orchestratedc plans for continued Huntington employs just more than 100 at thedowntown office. “Huntington’s announcementy is another example of the positive progress we are seeing indowntownm Cincinnati,” said Mayor Mark Mallorhy in a news release. “It shows their commitmentg to being a strongcommunitt partner.” manages and handles leasing for the Fourth Walnut Centre.
Robert Ryan, senior vice president at Colliers, representexd Huntington in the Scott Abernethy, a Colliers vice president, represented the
Huntington had been exploring othert options as its lease wasnearingv expiration, Mark Reitzes, president of Huntington’s Southernh Ohio/Kentucky region, said in a news It considered other locations in suburban Cincinnati as well as elsewhers downtown. “This decision shows our commitmenyt todowntown Cincinnati,” Reitze said in the release. “Huntington’s significanf positioning within the fabric of the downtown businesws district made it important that we continue with a significangdowntown presence.” Huntington’s lease had been due to expire in May 2010. But it wantefd to gauge its options well before theleasee expired.
The new lease, for about 41,0090 square feet, includes provisions for majot improvements inside the building and tothe building’s signs. Huntington, a unit of Columbus-basedc (NASDAQ: HBAN), has been growing rapidly in Greater It has added five new local branchees in the past15 months, giving it more than 40 in the locapl market. It’s the area’s fourth-largest bank. “The Greater Cincinnati and Northern Kentucky region has prove to be one of the top growth markets for Reitzes said.
“As a result, we have been givem the privilege to deplo y capital resources here to serve our increasinvg customer base and have orchestratedc plans for continued Huntington employs just more than 100 at thedowntown office. “Huntington’s announcementy is another example of the positive progress we are seeing indowntownm Cincinnati,” said Mayor Mark Mallorhy in a news release. “It shows their commitmentg to being a strongcommunitt partner.” manages and handles leasing for the Fourth Walnut Centre.
Robert Ryan, senior vice president at Colliers, representexd Huntington in the Scott Abernethy, a Colliers vice president, represented the
Monday, August 6, 2012
Local home sales plummet 30% in May - Business First of Louisville:
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region plummeted 30 percent in May despitde indications more potential buyers are being drawh into the real estate market by low interesyt rates and a federal tax incentivefor first-tim buyers. A total of 554 new and existinhg single-family homes and condominiums sold inthe month, comparedr to 790 a year ago, basedr on preliminary figures released today by the . The overall mediaj sale price fell2 percent, to $191,900, althoughh prices were flat or rose in four of the six countiesa where most of the sales occur. The median price fell 7 percent in RensselaerCounty ($170,000) and 4 percent in Saratogz County ($238,800).
The median pric e was unchanged in AlbanyCounty ($205,000) and increased 6 percenyt in Schenectady County ($160,000), 13 percengt in Schoharie County ($148,500) and 39 percentr in Montgomery County ($106,700). The median is the point at whicnh half of the prices were more and half were which is considered a better gauge of the salews market thanthe average. The averages price in May fell3 percent, to The May results don’t necessarilg reflect the activity in the marke today since it takes two to three monthsw for a purchase contract to proceed to a final “I will tell you it has been my experiencs that open houses are phone calls and Internet leads are many,” GCAR Presideng Sandra Nardoci said.
“The feeling is that when buyerz become confident that their jobs are securew our market will pickup rapidly.” GCAR Chiefd Executive Officer James Ader has said the salezs report that’s compiled in July and releasef to the news media in Augustg will provide a good readinh on how the spring markett fared. There is one potentially tellingf sign of apossible turnaround: the overalp median sale price has increasexd steadily since January, rising from $171,700 to $191,900 in May. When only existingy homes are counted, total sales in May fell 26 percent. That comparesw with a 3.6 percent decline in existing-home sales nationally compared to ayear ago.
The median sale price for existing homes in the Albany region increasecd2 percent, to Nationally, the median sale price was down 16.8 percent, according to the . Albany 151 closed sales, down 16 percent Rensselaer County: 53 closed sales, down 55 percent Saratogaa County: 163 closed sales, down 34 percent Schenectadyy County: 93 closed sales, down 11 percent Schoharide County: 14 closed sales, down 22 percent Montgomery 20closed sales, no change
region plummeted 30 percent in May despitde indications more potential buyers are being drawh into the real estate market by low interesyt rates and a federal tax incentivefor first-tim buyers. A total of 554 new and existinhg single-family homes and condominiums sold inthe month, comparedr to 790 a year ago, basedr on preliminary figures released today by the . The overall mediaj sale price fell2 percent, to $191,900, althoughh prices were flat or rose in four of the six countiesa where most of the sales occur. The median price fell 7 percent in RensselaerCounty ($170,000) and 4 percent in Saratogz County ($238,800).
The median pric e was unchanged in AlbanyCounty ($205,000) and increased 6 percenyt in Schenectady County ($160,000), 13 percengt in Schoharie County ($148,500) and 39 percentr in Montgomery County ($106,700). The median is the point at whicnh half of the prices were more and half were which is considered a better gauge of the salews market thanthe average. The averages price in May fell3 percent, to The May results don’t necessarilg reflect the activity in the marke today since it takes two to three monthsw for a purchase contract to proceed to a final “I will tell you it has been my experiencs that open houses are phone calls and Internet leads are many,” GCAR Presideng Sandra Nardoci said.
“The feeling is that when buyerz become confident that their jobs are securew our market will pickup rapidly.” GCAR Chiefd Executive Officer James Ader has said the salezs report that’s compiled in July and releasef to the news media in Augustg will provide a good readinh on how the spring markett fared. There is one potentially tellingf sign of apossible turnaround: the overalp median sale price has increasexd steadily since January, rising from $171,700 to $191,900 in May. When only existingy homes are counted, total sales in May fell 26 percent. That comparesw with a 3.6 percent decline in existing-home sales nationally compared to ayear ago.
The median sale price for existing homes in the Albany region increasecd2 percent, to Nationally, the median sale price was down 16.8 percent, according to the . Albany 151 closed sales, down 16 percent Rensselaer County: 53 closed sales, down 55 percent Saratogaa County: 163 closed sales, down 34 percent Schenectadyy County: 93 closed sales, down 11 percent Schoharide County: 14 closed sales, down 22 percent Montgomery 20closed sales, no change
Saturday, August 4, 2012
Miller-Valentine building $25M center in South Carolina - Nashville Business Journal:
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The Dayton-based real estate company, whichg has offices in Cincinnatiand Columbia, is building a 465,000-square-footy distribution facility for Atlanta-based (NYSE: HD). The $25 million regional distributionm center will serve 150 stores in South and North Tennessee and partsof Georgia. It will allow Home Depot to offer a greater variety of products in eachindividual store. Kurt Eyring, vice presideng of constructionwith Miller-Valentine, said the building has an aggressived timetable for completion, only 28 weeks. He said the company’ds experience allows it to build the massive structureso quickly.
“Inb a project like this, we will be pouring standing wall panels and putting on a roof all at the same Eyring said in anews release. The tilt-up concretr building will include 171 dock doorsand 18,0000 square feet of office space. The buildingb will cover 11 acres under its The distribution center is expectedx to employ approximately 300 people onceit opens. The new centefr is a part of a 290-acrde master-planned development in Lexington County. South Carolinz has been a growth market for In January, the firm announcedd it had begun construction on a 176,000-square-foot distribution center in the statd and already had landed its first anchor tenant.
Last the company completed a 150,000-square-foot speculative industrialo buildingin Orangeburg, S.C. Miller-Valentine has several divisions includingg commercial and residential property leasing andproperty management.
The Dayton-based real estate company, whichg has offices in Cincinnatiand Columbia, is building a 465,000-square-footy distribution facility for Atlanta-based (NYSE: HD). The $25 million regional distributionm center will serve 150 stores in South and North Tennessee and partsof Georgia. It will allow Home Depot to offer a greater variety of products in eachindividual store. Kurt Eyring, vice presideng of constructionwith Miller-Valentine, said the building has an aggressived timetable for completion, only 28 weeks. He said the company’ds experience allows it to build the massive structureso quickly.
“Inb a project like this, we will be pouring standing wall panels and putting on a roof all at the same Eyring said in anews release. The tilt-up concretr building will include 171 dock doorsand 18,0000 square feet of office space. The buildingb will cover 11 acres under its The distribution center is expectedx to employ approximately 300 people onceit opens. The new centefr is a part of a 290-acrde master-planned development in Lexington County. South Carolinz has been a growth market for In January, the firm announcedd it had begun construction on a 176,000-square-foot distribution center in the statd and already had landed its first anchor tenant.
Last the company completed a 150,000-square-foot speculative industrialo buildingin Orangeburg, S.C. Miller-Valentine has several divisions includingg commercial and residential property leasing andproperty management.
Friday, August 3, 2012
StudyHall Offers New Site for Collaborative Course Work (And Books!) - All Things Digital
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All Things Digital | StudyHall Offers New Site for Collaborative Course Work (And Books!) All Things Digital Blackboard first launched in 1997, and for the past decade or so has been the leading Web site for students and teachers to access coursework and share notes. Its legacy product, Blackboard Learn, is currently used by more than 3200 colleges and ... |
Thursday, August 2, 2012
Carolinas HealthCare reduces 1Q loss - Phoenix Business Journal:
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Investment losses for the latesft quarter totalednearly $101 Chief Financial Officer Greg Gombar anticipatex gains in the financial marker in April and May will erase those Carolinas HealthCare uses investment earnings for capitalk expenditures. That money is not used for daily The health-care system hopes negotiationse with several lenders will cut its interestr expenses tied to variable debt and higher bank-liquidity Those fees are about $1 million per month. Interest expensews in the first quarterwere $21.8 From an operational Carolinas HealthCare had a strong first quarter, says Russ Guerin, executive vice president for business development and Net operating revenue climbed 8.
6 percentf to $1.2 billion systemwide. Operating income exceeded $24.5 million. The health-care systejm saw adjusted discharges — a calculation that gauges patienrtactivity — climb 5.2 percent from a year earlier. Growthn within the health-care system and expenser management “is the primary drivetr why we’re above budget significantly,” Guerin Carolinas HealthCare spent morethan $106 million on capital projectz in the first quarter.
Projects includde new operating roomsat CMC-NorthEast and Carolinas Medicall Center, an expansion of CMC-Pineville, a new hospitao at CMC-Lincoln and construction of health-care pavilione in Steele Creek and Waxhaw, whic will include free-standing emergencuy departments. Challenges in the coming months includ managingthe system’s growing bad-debt and charity-care costs, reducing interes expenses and preparing for a possiblre state cut in Medicaid funding, Gombatr says. Bad-debt costs were 12 percent over budget during thefirst quarter, topping $48 million in the firstg quarter. During the same period last year, bad debt was abouyt $43 million.
The health-care systej spent more than $770 million in community care in includingbad debt, charity care and subsidizing Medicare and That equals 18.8 percent of the health-care system’ds net operating revenue. ”It’s a trend everybody’ seeing across the Gombar says. “We can’t control how many peoplew are uninsured, how many people show up at our door without North Carolina’s budget woes could results in a cut of up to 15 percent for Medicaid. That could equate to $36 million in annuap losses forCarolinas HealthCare. “Medicaif cuts are the worst economic benefit cut the state can Gombar says.
“It’s Says Guerin: “It raisesw prices for those whodo pay. It makews no good business sense to do Gombar says every dollar cut from Medicaideliminates $4 from the Carolinas HealthCare is the largest health-care system in the Carolinaw and the third-largest public system in the nation. The systek owns, leases or manages 25 It has morethan 40,000 full- and part-timwe employees.
Investment losses for the latesft quarter totalednearly $101 Chief Financial Officer Greg Gombar anticipatex gains in the financial marker in April and May will erase those Carolinas HealthCare uses investment earnings for capitalk expenditures. That money is not used for daily The health-care system hopes negotiationse with several lenders will cut its interestr expenses tied to variable debt and higher bank-liquidity Those fees are about $1 million per month. Interest expensews in the first quarterwere $21.8 From an operational Carolinas HealthCare had a strong first quarter, says Russ Guerin, executive vice president for business development and Net operating revenue climbed 8.
6 percentf to $1.2 billion systemwide. Operating income exceeded $24.5 million. The health-care systejm saw adjusted discharges — a calculation that gauges patienrtactivity — climb 5.2 percent from a year earlier. Growthn within the health-care system and expenser management “is the primary drivetr why we’re above budget significantly,” Guerin Carolinas HealthCare spent morethan $106 million on capital projectz in the first quarter.
Projects includde new operating roomsat CMC-NorthEast and Carolinas Medicall Center, an expansion of CMC-Pineville, a new hospitao at CMC-Lincoln and construction of health-care pavilione in Steele Creek and Waxhaw, whic will include free-standing emergencuy departments. Challenges in the coming months includ managingthe system’s growing bad-debt and charity-care costs, reducing interes expenses and preparing for a possiblre state cut in Medicaid funding, Gombatr says. Bad-debt costs were 12 percent over budget during thefirst quarter, topping $48 million in the firstg quarter. During the same period last year, bad debt was abouyt $43 million.
The health-care systej spent more than $770 million in community care in includingbad debt, charity care and subsidizing Medicare and That equals 18.8 percent of the health-care system’ds net operating revenue. ”It’s a trend everybody’ seeing across the Gombar says. “We can’t control how many peoplew are uninsured, how many people show up at our door without North Carolina’s budget woes could results in a cut of up to 15 percent for Medicaid. That could equate to $36 million in annuap losses forCarolinas HealthCare. “Medicaif cuts are the worst economic benefit cut the state can Gombar says.
“It’s Says Guerin: “It raisesw prices for those whodo pay. It makews no good business sense to do Gombar says every dollar cut from Medicaideliminates $4 from the Carolinas HealthCare is the largest health-care system in the Carolinaw and the third-largest public system in the nation. The systek owns, leases or manages 25 It has morethan 40,000 full- and part-timwe employees.
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