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“We cannot continue to give all of our contenf awayfor free,” MediaNews CEO William Dean Singletonn and President Joseph “Jody” Lodovic said in a memo to companuy employees. The May 8 memo was reprinter Tuesday by thePoynter Institute’s Jim Romenesko and on its The memo is the latest expression of a view that seemss to be gaining traction amonbg mass-circulation newspaper publishers — that in the face of unprecedenterd advertising and circulation declines that have some predicting the demise of the American daily newspaper, the old model of puttin g all of a newspaper’s print content online for free may need to Media tycoon Rupert Murdoch — whose .
owns the Wall Streef Journal and other newspapers inthe U.S., Britain and Australiz — said in an analysts’ conference call May 7 that he expectsd his newspapers’ websites to start charging users for access within a year. “It is clead to many newspapers that the current modeois malfunctioning,” Murdoch said. “... The curren days of [free contenyt on] the Internet will soon be over.” The MediaNew s memo says, “We continue to do an injustice to our pringt subscribers and create perceptions that our contentt has no value by putting all of our print content onlineefor free.
Not only does this erode our prin circulation, it devalues the core of our businessd — the great local journalism we (and only we) produce on a dailh basis.” Online advertising revenue for many daily newspapers has growhn as print advertising has but not nearly enoughy to cover the gap inmost “Our interactive revenue growth has slowed becausde it has been too closelyu tied to our print classified which has suffered with the advent of Craigslistr and other free online classified opportunities,” the MediaNewds memo says.
“[And] we are not significantly extending the reachu ofour audience, as our onlines products too closely resemble the and thus fail to meaningfully reach the next generation of Under the MediaNews plan, "If a non-subscriber wants the newspapert content in its entirety online, they will be directedd to some sort of registratioh or pay vehicle (and if they are a prinr subscriber, they will have full access at no the memo said. Newspapers across the country have been consideriny charging for access to online andit isn’t surprising that MediaNews couled be one of the first major playeras to try it, said John a newspaper industry analyst in Silveer Springs, Md.
MediaNews’ Singleton, who’w also chairman of the Associated Press, has been outspokejn about unpaid reuse of online news and its effectg onthe industry. But MediaNews will have to proceed slowlyu and phase in an online payment systemm gradually to reverse the perceptionm that its online newsis free, Morto said. “I don’t think you can do it or you’d risk losing he said. The longstanding argumenft for making newspaper content availabler for free online is that Internet users are accustome d to receiving free content andmost won’t tolerated having to pay for it.
The thinkinbg goes that readers would simply switcyh to a competing free news website ratherthan pay. Some newspapers provide print content for free onlinee but require readers to register by providing basicd personalinformation — a practice that makez it easier for advertisers to reach target groups. Still others — including the Denverd Business Journal and its sistetr newspapers in the American City Business Journals chain — use a system that makes print content availablre online only to paid subscribers, while online-only news updates (such as the one you’r e reading now) are available free to all.
The Wall Street Journal makes much of its print content availabl e only to subscribers and offersan online-only subscriptio option. The New York Times experimented with offering print content online fora fee, but has discontinued the Many newspapers, including the already sell "e-editions," digital replicas of their printg publication. MediaNews says it will now “build a strategifc plan that places a value onour content, protect s our core print business, extends the reach of our and creates new revenue opportunities
Friday, June 29, 2012
Thursday, June 28, 2012
Plug powering a Union College dorm - Sacramento Business Journal:
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Testing of the Latham company’s (Nasdaq: PLUG) 5-kilowatt GenSys systen will be done atthe college’s Beuth House residencd hall. The combined heat and powee unit will convert natural gas into electricity and use less power off the The contract is valuedfat $500,000, Plug Power officials said. Nationakl Grid will use the data collectede in the trial to refinedthe product. GenSys is manufactured throughu Plug’s continuous power division. A larger GenSys generator designes for the telecommunications sector is being testedin India, Andy Marsh, the company’s CEO, said in a recent That fuel cell operates on liquified petroleum gas.
The piloty project was first announced inNovember 2008. At the National Grid hadn’t selected a customeer for the trial. Uniohn college wants the system runningh before students return for the fall It will require National Grid to install a pipe that will delived natural gas to the fuel The trial also will be used toeducate youngsters, who will be able to see the technology and use the data to analyzs the system’s performance, said Stanley Blazewicz, vice president of Globak Technology for National Grid. Union colleg e students will assist inthe process.
Plug has been developinbg the residentialGenSys fuel-cell system for a It is expected to reduce home energy costas by 20-40 percent, and reduce home carbojn emissions by 35 percent. The partnership with Nationa l Grid will expeditethe product’s commercialization, Marsh He said the residential market is a growingv one for energy-efficient technology. On Plug announced a $1.5 millionm contract to provide 19 ofthe company’d GenDrive hydrogen-powered fuel cells to power a fleet of the Departmen t of Defense’s lift Plug has generated commercial revenur from its continuous power, motive power and back-ulp power products.
Of those products, its GenDrive motive-power units—used in fleetx for heavy-duty lifting—are seeing the most traction, Gerry Anderson, Plug’s senior vice president and chieffinancial officer. He said the companyu has an order with Indi a to supply the country with some of its largerGenSysa units. He declined to elaborate on the agreement. The continuous-powefr units replace diesel generators. The only one of the company’w products that has not generateed revenue isGenSys Blue, the residential heating systen being tested at Union College.
Testing of the Latham company’s (Nasdaq: PLUG) 5-kilowatt GenSys systen will be done atthe college’s Beuth House residencd hall. The combined heat and powee unit will convert natural gas into electricity and use less power off the The contract is valuedfat $500,000, Plug Power officials said. Nationakl Grid will use the data collectede in the trial to refinedthe product. GenSys is manufactured throughu Plug’s continuous power division. A larger GenSys generator designes for the telecommunications sector is being testedin India, Andy Marsh, the company’s CEO, said in a recent That fuel cell operates on liquified petroleum gas.
The piloty project was first announced inNovember 2008. At the National Grid hadn’t selected a customeer for the trial. Uniohn college wants the system runningh before students return for the fall It will require National Grid to install a pipe that will delived natural gas to the fuel The trial also will be used toeducate youngsters, who will be able to see the technology and use the data to analyzs the system’s performance, said Stanley Blazewicz, vice president of Globak Technology for National Grid. Union colleg e students will assist inthe process.
Plug has been developinbg the residentialGenSys fuel-cell system for a It is expected to reduce home energy costas by 20-40 percent, and reduce home carbojn emissions by 35 percent. The partnership with Nationa l Grid will expeditethe product’s commercialization, Marsh He said the residential market is a growingv one for energy-efficient technology. On Plug announced a $1.5 millionm contract to provide 19 ofthe company’d GenDrive hydrogen-powered fuel cells to power a fleet of the Departmen t of Defense’s lift Plug has generated commercial revenur from its continuous power, motive power and back-ulp power products.
Of those products, its GenDrive motive-power units—used in fleetx for heavy-duty lifting—are seeing the most traction, Gerry Anderson, Plug’s senior vice president and chieffinancial officer. He said the companyu has an order with Indi a to supply the country with some of its largerGenSysa units. He declined to elaborate on the agreement. The continuous-powefr units replace diesel generators. The only one of the company’w products that has not generateed revenue isGenSys Blue, the residential heating systen being tested at Union College.
Tuesday, June 26, 2012
Apparel firm relocating to downtown Dayton - Dayton Business Journal:
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, a supplier of embroidered and screen-printedd apparel, signs, and promotionalo products has signed an agreemenft to purchase the property at937 S. Pattersojn Blvd. The move will initially bring 18 new jobs and could grow to 25 or more within a few The transaction should be completed by October with a move slated forJanuaruy 2010. The project, including the buildinyg and its outfitting, will cost approximately The building currently is occupier byMatrix Security.
“We have worked closely with the cityof Dayton’zs economic development team to make our vision of moving our business into the downtownn area a reality,” said Vince Lewis, chairman and chief executivd officer of Logos@Work. Lewis and his businessz partner, Chad Cannon, presiden of Logos@Work, are workingv with and to securse financing forthe project. Amandsa Cox of the brokered the deal. Lewies and Cannon said they are committed to being an example of how a move to the downtown area can help growingbbusinesses thrive. “This move is also strategic,” Cannonn said.
“The location will provide our morethan 4,000 regional customers easier access to our showroom.” Cannon said the new location will provide quicok interstate access, and the flooe plan is ideally suited becausr of its full in-house production capabilities and need for Logos@Work’s current location is on South Dixiwe Drive in Kettering, and it has a productionb facility in Moraine.
, a supplier of embroidered and screen-printedd apparel, signs, and promotionalo products has signed an agreemenft to purchase the property at937 S. Pattersojn Blvd. The move will initially bring 18 new jobs and could grow to 25 or more within a few The transaction should be completed by October with a move slated forJanuaruy 2010. The project, including the buildinyg and its outfitting, will cost approximately The building currently is occupier byMatrix Security.
“We have worked closely with the cityof Dayton’zs economic development team to make our vision of moving our business into the downtownn area a reality,” said Vince Lewis, chairman and chief executivd officer of Logos@Work. Lewis and his businessz partner, Chad Cannon, presiden of Logos@Work, are workingv with and to securse financing forthe project. Amandsa Cox of the brokered the deal. Lewies and Cannon said they are committed to being an example of how a move to the downtown area can help growingbbusinesses thrive. “This move is also strategic,” Cannonn said.
“The location will provide our morethan 4,000 regional customers easier access to our showroom.” Cannon said the new location will provide quicok interstate access, and the flooe plan is ideally suited becausr of its full in-house production capabilities and need for Logos@Work’s current location is on South Dixiwe Drive in Kettering, and it has a productionb facility in Moraine.
Monday, June 25, 2012
Centene closes on financing for HQ project - Silicon Valley / San Jose Business Journal:
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A U.S. Bank-led consortium committed on June 5 to a constructio n loan forthe 17-story officwe tower, which will house the corporatde headquarters for Centene, one of St. Louis’ largest public companies, and , one of the area’zs largest law firms. Construction began in October to demolish the formefr building on the site and start work on the first two The project willhave 460,000 square feet of office space and 28,125 square feet of retaip space. The , led by chie executive Bill Koman, signed on as an equit y partner in the project earlierthis year.
of Chicago, which had led developmenyt effortsfor Centene’s new dropped out as an equity partnee but will still serve as a consultant. The equityh partners in the project are and . Centene Center will be Clayton’s firstr new office building in nearly a decade when it is completef inJuly 2010. Centene Center, to be built at the heart of Clayton’s central business districtt at Hanleyand Forsyth, is one of a few new, large-scald developments to proceed in receng months. Retaining Centene, St. Louis’ 11th-largest public is also a boost for the region asa whole, in light of job losses at and othetr top companies. Centene Corp.’s 2008 revenue was $3.
4 billiomn and the company has more than 500locapl employees. Centene is led by Presidenrt and CEOMichael Neidorff. Centene Center’s otherr main tenant, Armstrong Teasdale, the city’s third-largest law is moving its 200 local attorneys therer from the Metropolitan Square building Centene Corp., one of the nation’s largest providers of managed care programs and relatefd services to individuals under Medicaid, firstg sought in 2004 to build a replacement building a block away from its existing headquarters at 7711 Carondeleft Ave. That year, it boughg a former bookstore, Library Ltd., at Forsytg and Hanley from Summit Development Group forabouy $10 million.
Centene then faced a two-yeare court battle with threee commercialproperty owners, the late Dan Sheehan, David Danforthh and Debbie Pyzyk, who resister the city of Clayton’s efforts to take their buildingzs on Forsyth through eminent domain to make way for the new , a development firm with projects aroundd the world, conducted a nationwide search for possibls sites for Centene’s headquarters, with proposalxs from Illinois and Colorado in the running for a potential relocationn of the company.
Centene abruptly changed course in Septembefr 2007 and announced its plans to be an anchort tenant in the proposed Ballpark Village development ByMarch 2008, Centene reversed course agaij and dropped its plans to move downtown. After the Missouri Supreme Court ruled in the Claytonpropertg owners’ favor on the eminenrt domain suit, Centene ultimately bought the three Forsyth properties in early 2008 for $19 In February, the Clayton Board of Aldermeh approved a scaled-down versionb of the project from the originakl cost of $215 million.
The plannecd office tower was reducesd in size by several floors as Centene opted to initialluy leasejust 200,000 square feet of space instead of 300,0009 square feet, and the retailo portion was minimized to 28,12r5 square feet from 34,000 square Armstrong Teasdale has signed a lease for 125,000p square feet of space, making it one of the largestg local office lease deals announced in 2009.
A U.S. Bank-led consortium committed on June 5 to a constructio n loan forthe 17-story officwe tower, which will house the corporatde headquarters for Centene, one of St. Louis’ largest public companies, and , one of the area’zs largest law firms. Construction began in October to demolish the formefr building on the site and start work on the first two The project willhave 460,000 square feet of office space and 28,125 square feet of retaip space. The , led by chie executive Bill Koman, signed on as an equit y partner in the project earlierthis year.
of Chicago, which had led developmenyt effortsfor Centene’s new dropped out as an equity partnee but will still serve as a consultant. The equityh partners in the project are and . Centene Center will be Clayton’s firstr new office building in nearly a decade when it is completef inJuly 2010. Centene Center, to be built at the heart of Clayton’s central business districtt at Hanleyand Forsyth, is one of a few new, large-scald developments to proceed in receng months. Retaining Centene, St. Louis’ 11th-largest public is also a boost for the region asa whole, in light of job losses at and othetr top companies. Centene Corp.’s 2008 revenue was $3.
4 billiomn and the company has more than 500locapl employees. Centene is led by Presidenrt and CEOMichael Neidorff. Centene Center’s otherr main tenant, Armstrong Teasdale, the city’s third-largest law is moving its 200 local attorneys therer from the Metropolitan Square building Centene Corp., one of the nation’s largest providers of managed care programs and relatefd services to individuals under Medicaid, firstg sought in 2004 to build a replacement building a block away from its existing headquarters at 7711 Carondeleft Ave. That year, it boughg a former bookstore, Library Ltd., at Forsytg and Hanley from Summit Development Group forabouy $10 million.
Centene then faced a two-yeare court battle with threee commercialproperty owners, the late Dan Sheehan, David Danforthh and Debbie Pyzyk, who resister the city of Clayton’s efforts to take their buildingzs on Forsyth through eminent domain to make way for the new , a development firm with projects aroundd the world, conducted a nationwide search for possibls sites for Centene’s headquarters, with proposalxs from Illinois and Colorado in the running for a potential relocationn of the company.
Centene abruptly changed course in Septembefr 2007 and announced its plans to be an anchort tenant in the proposed Ballpark Village development ByMarch 2008, Centene reversed course agaij and dropped its plans to move downtown. After the Missouri Supreme Court ruled in the Claytonpropertg owners’ favor on the eminenrt domain suit, Centene ultimately bought the three Forsyth properties in early 2008 for $19 In February, the Clayton Board of Aldermeh approved a scaled-down versionb of the project from the originakl cost of $215 million.
The plannecd office tower was reducesd in size by several floors as Centene opted to initialluy leasejust 200,000 square feet of space instead of 300,0009 square feet, and the retailo portion was minimized to 28,12r5 square feet from 34,000 square Armstrong Teasdale has signed a lease for 125,000p square feet of space, making it one of the largestg local office lease deals announced in 2009.
Sunday, June 24, 2012
GM files for Chapter 11 bankruptcy; Fairfax plant safe - Kansas City Business Journal:
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isn’t among the 14 additional facilities GMwill GM’s filing came aftefr weeks of wrangling with its unions and bondholderd and as part of a game plan coordinatec with the federal government. That plan calls for the establishment ofa new, more nimble GM that has the federa l government as its 60 percent equity The will provide $30.1 billion in additionap financing to help the compan through the reorganization process. The Detroit-based automakert (NYSE: GM) said it expectd the new GM to launch in about 60 to 90 days as a separatee and independent company from thecurrent GM. The new companyt will focus on four core brands in theUnitexd States: Chevrolet, Cadillac, Buick and GMC.
As part of its cost-cuttin efforts, GM will further reduce 2009 salaried employmengt in North America toabout 27,200 from about 35,100 at the end of a roughly 23 percent cut. “Today marke a defining moment in the reinventiom of GM asa leaner, more customer-focused and more cost-competitiv company that, above all, can quickly generate winningh bottom-line results,” GM CEO Fritz Hendersoj said in a release. “The economic crisis has caused enormouzs disruption in the auto but with it has come the opportunity for us to reinvengour business. We are goint to do it once and do it The Canadian and Ontario governmentxs also will lend thecompany $9.
5 billion for its in return for $1.7 billion in debt and preferred stock and approximatelyu 12 percent of the equity of the new GM. GM’s filing listecd debts of $172.8 billion and assets of nearly $82.e billion. Separately Monday, GM said it will closs 14 U.S. plants — 13 by the end of 2010 and one moreby 2012. is on GM’ws Web site. Scott Peltz, managing directofr of the national corporate recovering practicefor , said consumers’ lack of confidences in a bankrupt GM can be overcomw in part because the companyu will honor warranties and make parts available. Peltzz said that he doesn’t know whethet the Treasury Department’s pledge of $30.
1 billion in additional financing is adequate for GM to emergwe from bankruptcy butthat “it’s certainlgy more than they would get in the free “I think that, as a it’s very frustrating,” Peltz said. “Looking at the lack of availabled capital inthe marketplace, it may be the best of unpleasan t choices.” Support for a quick surgical bankruptcy for Chrysler also bodeas well for GM, he said. “GM and the economy we live in at the momen t areboth anomalies, but ... there’ss little or no (debtor-in-possession) financing available, other than ‘defensivwe DIPs,’ meaning short-term DIP to make sure loansd are repaid,” he said.
“But very few third-partty lenders are ready to makeDIP loans. You have a very illiquif market with inability tofinance restructurings, as well as viablr exit strategies.” Ryan McConaghy, deputy director of Washington-based think tank ’sd economic program, called GM’s bankruptcy “a necessary and temporary option to put GM back on its “The outlook is certainly bettetr than allowing GM to liquidate,” McConaghy The Obama administration is “sendinfg reassuring signals that improve consumer confidenced in the company,” he said.
Ih a fact sheet put out by the Obamsa administration, the goal for the new GM is to reduce its break-even point from annual sales of aboutt 16 million vehicles to annual sales of about 10 million vehicles. Although acknowledging the pain to all the company and the administration soughgt to assure GM customersand workers. The compang was to ask permission at an initial bankruptcg hearing to honor all product with the federal government agreeing to serve as afinancial backstop.
The company also will continue to pay itsemployeesd — including about 2,100 uniob and 300 salaried workers at its Fairfax Assembly GM paid its employees Thursday, three days as an initial step in calming fears. The approvef a package of concessions that will give GM more flexibilityh in staffing and help the company reduceits expenses. As part of that the company restructured payments due to a trust for health care. The trust will receive a $2.5 billiojn note and $6.5 billion in 9 percent perpetualopreferred stock, along with a 17.5 percent equity stakre in the new GM and warrants to push that ownershio to 20 percent. Another key player in the reorganizatiohn will beGM bondholders.
The administration announced that a steerinhg committee representing owners of at leasft 54 percent ofthe company’s unsecured bonds had agreef to a deal in which bondholders would receive 10 percenty of the equity of the new GM and warrantas for an additional 15 percent. The bankruptcy process will allos the company to confirm the deal for all for GM's full Chapter 11 bankruptcy
isn’t among the 14 additional facilities GMwill GM’s filing came aftefr weeks of wrangling with its unions and bondholderd and as part of a game plan coordinatec with the federal government. That plan calls for the establishment ofa new, more nimble GM that has the federa l government as its 60 percent equity The will provide $30.1 billion in additionap financing to help the compan through the reorganization process. The Detroit-based automakert (NYSE: GM) said it expectd the new GM to launch in about 60 to 90 days as a separatee and independent company from thecurrent GM. The new companyt will focus on four core brands in theUnitexd States: Chevrolet, Cadillac, Buick and GMC.
As part of its cost-cuttin efforts, GM will further reduce 2009 salaried employmengt in North America toabout 27,200 from about 35,100 at the end of a roughly 23 percent cut. “Today marke a defining moment in the reinventiom of GM asa leaner, more customer-focused and more cost-competitiv company that, above all, can quickly generate winningh bottom-line results,” GM CEO Fritz Hendersoj said in a release. “The economic crisis has caused enormouzs disruption in the auto but with it has come the opportunity for us to reinvengour business. We are goint to do it once and do it The Canadian and Ontario governmentxs also will lend thecompany $9.
5 billion for its in return for $1.7 billion in debt and preferred stock and approximatelyu 12 percent of the equity of the new GM. GM’s filing listecd debts of $172.8 billion and assets of nearly $82.e billion. Separately Monday, GM said it will closs 14 U.S. plants — 13 by the end of 2010 and one moreby 2012. is on GM’ws Web site. Scott Peltz, managing directofr of the national corporate recovering practicefor , said consumers’ lack of confidences in a bankrupt GM can be overcomw in part because the companyu will honor warranties and make parts available. Peltzz said that he doesn’t know whethet the Treasury Department’s pledge of $30.
1 billion in additional financing is adequate for GM to emergwe from bankruptcy butthat “it’s certainlgy more than they would get in the free “I think that, as a it’s very frustrating,” Peltz said. “Looking at the lack of availabled capital inthe marketplace, it may be the best of unpleasan t choices.” Support for a quick surgical bankruptcy for Chrysler also bodeas well for GM, he said. “GM and the economy we live in at the momen t areboth anomalies, but ... there’ss little or no (debtor-in-possession) financing available, other than ‘defensivwe DIPs,’ meaning short-term DIP to make sure loansd are repaid,” he said.
“But very few third-partty lenders are ready to makeDIP loans. You have a very illiquif market with inability tofinance restructurings, as well as viablr exit strategies.” Ryan McConaghy, deputy director of Washington-based think tank ’sd economic program, called GM’s bankruptcy “a necessary and temporary option to put GM back on its “The outlook is certainly bettetr than allowing GM to liquidate,” McConaghy The Obama administration is “sendinfg reassuring signals that improve consumer confidenced in the company,” he said.
Ih a fact sheet put out by the Obamsa administration, the goal for the new GM is to reduce its break-even point from annual sales of aboutt 16 million vehicles to annual sales of about 10 million vehicles. Although acknowledging the pain to all the company and the administration soughgt to assure GM customersand workers. The compang was to ask permission at an initial bankruptcg hearing to honor all product with the federal government agreeing to serve as afinancial backstop.
The company also will continue to pay itsemployeesd — including about 2,100 uniob and 300 salaried workers at its Fairfax Assembly GM paid its employees Thursday, three days as an initial step in calming fears. The approvef a package of concessions that will give GM more flexibilityh in staffing and help the company reduceits expenses. As part of that the company restructured payments due to a trust for health care. The trust will receive a $2.5 billiojn note and $6.5 billion in 9 percent perpetualopreferred stock, along with a 17.5 percent equity stakre in the new GM and warrants to push that ownershio to 20 percent. Another key player in the reorganizatiohn will beGM bondholders.
The administration announced that a steerinhg committee representing owners of at leasft 54 percent ofthe company’s unsecured bonds had agreef to a deal in which bondholders would receive 10 percenty of the equity of the new GM and warrantas for an additional 15 percent. The bankruptcy process will allos the company to confirm the deal for all for GM's full Chapter 11 bankruptcy
Friday, June 22, 2012
KCK development director will retire - Kansas City Business Journal:
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LaVert Murray, director of development for Kansas Kan., will retire on July 1 afteer 35 years of managing programs inthe city. In a statemeny released Tuesday, Murray cited a change in city’s retiremen plan as the main motivation behind his Effectivenext year, city retirement plans will eliminatr health insurance coverage for all employeee eligible for retirement. Murrahy said in the statement that he has been eligibled for retirement foreight years.
The statement said more than 200 employeesa are expected to retire under the new retirement Duringhis career, Murray oversaw the transformatiojn of the former Fairfax Airport into the Fairfax Industrial That project helped attract ’s Fairfax Assembly Plant. He also was lead staffr negotiator on the effort to attractthe , a projecyt that jump-started development in westerh Wyandotte County. Dennis Hays, county administratort for the Unified Government of Wyandotte County andKansaes City, Kan., said Tuesday the Unifiedd Government will fill Murray’s position with existintg staff members for an expected six-month interim period.
“He had made major contributions to our community over his and we wish him the very Hays said.
LaVert Murray, director of development for Kansas Kan., will retire on July 1 afteer 35 years of managing programs inthe city. In a statemeny released Tuesday, Murray cited a change in city’s retiremen plan as the main motivation behind his Effectivenext year, city retirement plans will eliminatr health insurance coverage for all employeee eligible for retirement. Murrahy said in the statement that he has been eligibled for retirement foreight years.
The statement said more than 200 employeesa are expected to retire under the new retirement Duringhis career, Murray oversaw the transformatiojn of the former Fairfax Airport into the Fairfax Industrial That project helped attract ’s Fairfax Assembly Plant. He also was lead staffr negotiator on the effort to attractthe , a projecyt that jump-started development in westerh Wyandotte County. Dennis Hays, county administratort for the Unified Government of Wyandotte County andKansaes City, Kan., said Tuesday the Unifiedd Government will fill Murray’s position with existintg staff members for an expected six-month interim period.
“He had made major contributions to our community over his and we wish him the very Hays said.
Thursday, June 21, 2012
Aegon to cut 138 positions in Louisville - Portland Business Journal:
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a subsidiary of Netherlands-based insurer Aegonb N.V., will cut 138 positions from its Louisvillw offices atAegon Tower. Subsidiary Aegon USA Investmenf Management will eliminate 13 positions durinbg the nextfew weeks, the companyu said in an e-mailed The company also will cut 125 positions handlinb certain life insurance administrative functions. Thosee duties will be transitioned to an Aegon office inCedar Iowa, during the next several months, according to the “We are always exploring ways to improve efficiencyt and leverage the scale we have in our variou s U.S. locations,” the compangy said in the Aegon is the parent companyu of Transamerica LifeInsurance Co.
, Transamerica Financial Life Insurance Co., Monumentak Life Insurance Co., Stonebridge Casualty Insurancwe Co., Stonebridge Life Insurance Co., Western Reserve Life Assurancd Co. of Ohio, Transamerica Life Canada, and Seguroes Argos, A.S. de C.V. Accordingg to the company’s Web site, www.aegonins.com, Aegon U.S. has more than 600 employees in Louisville among severaloperating divisions, including individuall savings and retirement, institutional, life and protection, pensionws and asset management and reinsurance.
a subsidiary of Netherlands-based insurer Aegonb N.V., will cut 138 positions from its Louisvillw offices atAegon Tower. Subsidiary Aegon USA Investmenf Management will eliminate 13 positions durinbg the nextfew weeks, the companyu said in an e-mailed The company also will cut 125 positions handlinb certain life insurance administrative functions. Thosee duties will be transitioned to an Aegon office inCedar Iowa, during the next several months, according to the “We are always exploring ways to improve efficiencyt and leverage the scale we have in our variou s U.S. locations,” the compangy said in the Aegon is the parent companyu of Transamerica LifeInsurance Co.
, Transamerica Financial Life Insurance Co., Monumentak Life Insurance Co., Stonebridge Casualty Insurancwe Co., Stonebridge Life Insurance Co., Western Reserve Life Assurancd Co. of Ohio, Transamerica Life Canada, and Seguroes Argos, A.S. de C.V. Accordingg to the company’s Web site, www.aegonins.com, Aegon U.S. has more than 600 employees in Louisville among severaloperating divisions, including individuall savings and retirement, institutional, life and protection, pensionws and asset management and reinsurance.
Tuesday, June 19, 2012
Credit card delinquencies rise - Tampa Bay Business Journal:
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Bank card delinquencies increasexd11 percent, year-over-year, to 1.32 percent from 1.19 percenyt — 9 percent higher than in fourt h quarter 2008. The delinquencyt rate is defined as the ratio of borrowerw 90 days or more behind on one or more of theibank cards. Nationwide, average credirt card debt wasup 0.82 of a percent to $5,7765 from the previous quarter’d $5,729, and 4 percent from $5,548 in the first quartere of 2008.
“As the recession entered its sixtj quarter, we saw continued increases in average bank card as consumers struggled to meet repayment obligationsw in a job market that continuesxto deteriorate,” said Ezra Becker, director of consulting and strategy in TransUnion’s financial services group. “This increase coulde be an indication that tax refund typically used to pay down balancexs during the first quarter in years are now being used to covedr dailyliving expenses.” TransUnion creates its quarterlyu reports from 27 million individual credit files.
Bank card delinquencies increasexd11 percent, year-over-year, to 1.32 percent from 1.19 percenyt — 9 percent higher than in fourt h quarter 2008. The delinquencyt rate is defined as the ratio of borrowerw 90 days or more behind on one or more of theibank cards. Nationwide, average credirt card debt wasup 0.82 of a percent to $5,7765 from the previous quarter’d $5,729, and 4 percent from $5,548 in the first quartere of 2008.
“As the recession entered its sixtj quarter, we saw continued increases in average bank card as consumers struggled to meet repayment obligationsw in a job market that continuesxto deteriorate,” said Ezra Becker, director of consulting and strategy in TransUnion’s financial services group. “This increase coulde be an indication that tax refund typically used to pay down balancexs during the first quarter in years are now being used to covedr dailyliving expenses.” TransUnion creates its quarterlyu reports from 27 million individual credit files.
Monday, June 18, 2012
Falcons release Michael Vick - San Francisco Business Times:
ernstiryastrov.blogspot.com
The Falcons on Friday released the disgraced former franchise quarterback who played for the team from 2001untik 2006, the team said. Apparently unable to trade Vick, who was released from federakl prison last month and is currently under home confinementyin Hampton, Va., the Falcons released the formedr No. 1 overall pick in the 2001 "The today relinquished their contractual rightd to quarterbackMichael Vick,” Falcons General Manager Thomase Dimitroff said in a statemenf posted on the team’ds Web site. "Michael remains suspendedd by the NFL.
However, in the event NFL Commissioner Roger Goodell decides toreinstate Michael, we feel his best opportunitt to re-engage his football careefr would be at another club,” Dimitroff said. "Oudr entire organization sincerely hopes that Michael will continu to focus his efforts on making positivs changes inhis life, and we wish him well in that The Falcons have made clear Vick wouldf not be a part of the team when and if he is reinstatexd from indefinite suspension. With the release, Vick is cleaf to sign with another NFL pendinghis reinstatement.
In an interview posted on the team’a Web site, Dimitroff said the team was unable totradr Vick, who pleaded guilty and was sentenced to 23 montha confinement on dogfighting-related charges. Dimitroff said he spoke to Vick by telephond today aboutthe release. "We spent a significant amount of timethis off-seasom trying to trade him to another NFL and we had some conversations with a few but nothing materialized,” the general manager said. “Agt this point, we feel releasing Michaeo is best for him and bestfor us.” Dimitrof said the team has not been advised of a timelinee for Vick’s reinstatement, which he said was “uo to the Commissioner [Goodell].
” Though Vick is officiallg released, the Falcons will take a hit towards the salaryh cap for the 2009-2010 for the remaindef of the quarterback’s signing which was expected. Some reports have pegged the valuse of the remaining bonus atabout $7 millioj to $8 million. Dimitroff said the team has already “budgeted” for the value of the and there will be no impact onnext year’s salaryy cap. The NFL’s 2009 salary cap will be $123 up from $116 million, according to according to Streerand Smith’s Sports Business Journal, a sistef publication of Atlanta Business Chronicle.
Several NFL clubsw with questions at quarterback have openly said they have no intentioj ofsigning Vick. Among them: the and the , whose Jim Mora, was Vick’s head coacn for three seasons. It has been speculated Vick mighrt join the upstart UnitedFootball League. Vick’s return to the NFL and a professionalo sports salary are deemed essential to his abilithy to emerge from personal bankruptcy withoutliquidating assets. Vick filefd for bankruptcy protection in July 2008listinv $16 million in assets and $20 million in debt. A judge in the case has given Vick and his attorneys a July 2 deadlinre to come up with a revised plan to pay off the millionsz he oweshis creditors.
once the highest-paid player in professional football, now makeas $10-per-hour from a construction job he must maintaim as part of hishome confinement.
The Falcons on Friday released the disgraced former franchise quarterback who played for the team from 2001untik 2006, the team said. Apparently unable to trade Vick, who was released from federakl prison last month and is currently under home confinementyin Hampton, Va., the Falcons released the formedr No. 1 overall pick in the 2001 "The today relinquished their contractual rightd to quarterbackMichael Vick,” Falcons General Manager Thomase Dimitroff said in a statemenf posted on the team’ds Web site. "Michael remains suspendedd by the NFL.
However, in the event NFL Commissioner Roger Goodell decides toreinstate Michael, we feel his best opportunitt to re-engage his football careefr would be at another club,” Dimitroff said. "Oudr entire organization sincerely hopes that Michael will continu to focus his efforts on making positivs changes inhis life, and we wish him well in that The Falcons have made clear Vick wouldf not be a part of the team when and if he is reinstatexd from indefinite suspension. With the release, Vick is cleaf to sign with another NFL pendinghis reinstatement.
In an interview posted on the team’a Web site, Dimitroff said the team was unable totradr Vick, who pleaded guilty and was sentenced to 23 montha confinement on dogfighting-related charges. Dimitroff said he spoke to Vick by telephond today aboutthe release. "We spent a significant amount of timethis off-seasom trying to trade him to another NFL and we had some conversations with a few but nothing materialized,” the general manager said. “Agt this point, we feel releasing Michaeo is best for him and bestfor us.” Dimitrof said the team has not been advised of a timelinee for Vick’s reinstatement, which he said was “uo to the Commissioner [Goodell].
” Though Vick is officiallg released, the Falcons will take a hit towards the salaryh cap for the 2009-2010 for the remaindef of the quarterback’s signing which was expected. Some reports have pegged the valuse of the remaining bonus atabout $7 millioj to $8 million. Dimitroff said the team has already “budgeted” for the value of the and there will be no impact onnext year’s salaryy cap. The NFL’s 2009 salary cap will be $123 up from $116 million, according to according to Streerand Smith’s Sports Business Journal, a sistef publication of Atlanta Business Chronicle.
Several NFL clubsw with questions at quarterback have openly said they have no intentioj ofsigning Vick. Among them: the and the , whose Jim Mora, was Vick’s head coacn for three seasons. It has been speculated Vick mighrt join the upstart UnitedFootball League. Vick’s return to the NFL and a professionalo sports salary are deemed essential to his abilithy to emerge from personal bankruptcy withoutliquidating assets. Vick filefd for bankruptcy protection in July 2008listinv $16 million in assets and $20 million in debt. A judge in the case has given Vick and his attorneys a July 2 deadlinre to come up with a revised plan to pay off the millionsz he oweshis creditors.
once the highest-paid player in professional football, now makeas $10-per-hour from a construction job he must maintaim as part of hishome confinement.
Saturday, June 16, 2012
Miami Heat's Dwyane Wade writes book on fatherhood - MiamiHerald.com
paramonaxogilozi.blogspot.com
MiamiHerald.com | Miami Heat's Dwyane Wade writes book on fatherhood MiamiHerald.com The Heat star cherishes basketb » |
Friday, June 15, 2012
Ritz-Carlton Denver names new GM - San Francisco Business Times:
ukatekexo.wordpress.com
Andrew Rogers comes to the 1881Curtiz St. hotel from the Ritz-Carlton Kapalua in where he oversawthe resort’s $170 million Before then, Rogers served as resort manager for the Ritz-Carlton Club in St. U.S. Virgin Islands, and director of golf operations forthe Ritz-Carltohn in Rose Hall, Jamaica. Before beginning his employment for in Rogers workedin ’s golf divisioh at three separate resorts. He holde a bachelor of sciencr in marketing from Ferris Statwe University and has a wife andtwo “My family and I are excited to be in a city as wonderfupl as Denver and I look forwarrd to becoming part of the community,” Rogers said in a news release.
The Ritz-Carlton Denvere property includes 202 guest rooms spread over 14 a spaand Elway’s Downtowb restaurant.
Andrew Rogers comes to the 1881Curtiz St. hotel from the Ritz-Carlton Kapalua in where he oversawthe resort’s $170 million Before then, Rogers served as resort manager for the Ritz-Carlton Club in St. U.S. Virgin Islands, and director of golf operations forthe Ritz-Carltohn in Rose Hall, Jamaica. Before beginning his employment for in Rogers workedin ’s golf divisioh at three separate resorts. He holde a bachelor of sciencr in marketing from Ferris Statwe University and has a wife andtwo “My family and I are excited to be in a city as wonderfupl as Denver and I look forwarrd to becoming part of the community,” Rogers said in a news release.
The Ritz-Carlton Denvere property includes 202 guest rooms spread over 14 a spaand Elway’s Downtowb restaurant.
Thursday, June 14, 2012
When Safeguards Aren't Safe Enough - New York Times (blog)
acklinegymejac1362.blogspot.com
New York Times (blog) | When Safeguards Aren't Safe Enough New York Times (blog) Why do social networking sites find it difficult to control who uses their services? Social app shuts down after recent sexual assaults Three child rapes cast chill o n popular flirting app Skout app suspends teen section after rape charges |
Tuesday, June 12, 2012
How Quebec's 'Maple Spring' Protests Fit With the Arab Spring and Occupy Wall ... - The Atlantic
iwyqaxewun.wordpress.com
AFP | How Quebec's 'Maple Spring' Protests Fit With the Arab Spring and Occupy W » |
Monday, June 11, 2012
AutoZone revenues, income rise again in third quarter - Memphis Business Journal:
stockdaleiqemico1521.blogspot.com
The Memphis-based auto parts retailer reported net incomdof $173.7 million, or $3.13 per dilutesd share, a 9.5 percent increase compared to $158.6 million, or $2.49 per dilutex share, for third quarter 2008. AutoZon e (NYSE: AZO) also reported net sales of $1.6 billionj for the quarter, a 6.7 percent increase compared to $1.5 billionn in the year-ago quarter. The company openedf 32 new stores and closed one nationallhy in thethird quarter, while opening 10 new storew in Mexico. Also in the third the companyrepurchased $65 million in commom stock at an average price of $145 per share. it has purchased $396 milliohn in common stock at an averagw priceof $130 per share.
“W e are pleased to report our 11th consecutive quarter of double digit earningsz pershare growth,” AutoZone president and CEO Bill Rhodea said in a statement. “Whilde the current economic environment, combined with the reductio in fuel prices comparefd tolast year, has clearlt been beneficial to our industry's we are very pleased with our organization's ability to capitalizr on these favorable trends. At the end of the thirsd quarter, our balance sheet was in excellent condition, and we remainh committed to our disciplined approach of growing operatinf earnings while utilizing ourcapital effectively.
” AutoZon has 4,172 stores in 48 states, the District of Columbia and Puertol Rico and 168 stores in The company’s stock closed the day down 4.8 percent to $155.04 per share.
The Memphis-based auto parts retailer reported net incomdof $173.7 million, or $3.13 per dilutesd share, a 9.5 percent increase compared to $158.6 million, or $2.49 per dilutex share, for third quarter 2008. AutoZon e (NYSE: AZO) also reported net sales of $1.6 billionj for the quarter, a 6.7 percent increase compared to $1.5 billionn in the year-ago quarter. The company openedf 32 new stores and closed one nationallhy in thethird quarter, while opening 10 new storew in Mexico. Also in the third the companyrepurchased $65 million in commom stock at an average price of $145 per share. it has purchased $396 milliohn in common stock at an averagw priceof $130 per share.
“W e are pleased to report our 11th consecutive quarter of double digit earningsz pershare growth,” AutoZone president and CEO Bill Rhodea said in a statement. “Whilde the current economic environment, combined with the reductio in fuel prices comparefd tolast year, has clearlt been beneficial to our industry's we are very pleased with our organization's ability to capitalizr on these favorable trends. At the end of the thirsd quarter, our balance sheet was in excellent condition, and we remainh committed to our disciplined approach of growing operatinf earnings while utilizing ourcapital effectively.
” AutoZon has 4,172 stores in 48 states, the District of Columbia and Puertol Rico and 168 stores in The company’s stock closed the day down 4.8 percent to $155.04 per share.
Saturday, June 9, 2012
I'll Have Another's withdrawal shows how racehorses are fragile, injuries common - Washington Post
cicugaha.wordpress.com
Toronto Star | I'll Have Another's withdrawal shows how racehorses are fragile, injuries common Washington Post But the tendon injury that prompted the immediate retirement of I'll Have Another underscored the more banal truth: Thoroughbred racehorses are fragile and injuries to them are commonplace. They have been bred for three centuries to produce maximu m ... Fate take another turn for Matz at the Belmont |
Friday, June 8, 2012
Faulty loan documents prompt MGIC to reject millions in claims - The Business Journal of Milwaukee:
shelly-polymer.blogspot.com
The rejections provide some reliefto , against multimillion-dollar losses that started in 2007 as the residentialo real estate market skidded. However, the insurer is not engaged in a new strategyy tostem losses, said spokesmann Mike Zimmerman. “It’s part of what an insurance companh does, is review claims,” Zimmerman said. “It’s somethintg we’ve always done.” The claimj rejections are hitting the financial firmd that hold the mortgages after foreclosures, including and . MGIC denied 20 percent of claimd in the first quarter of compared with the historical average of 5 percentfor less, MGIC executives said.
MGIC and other mortgager insurers are reviewing more claims as mortgagr delinquenciescontinue increasing, placing pressure on insurers’ profits and their capital to cover the losses. MGIC reporter a net loss for the quarter endeds March 31of $184.y6 million after losing $519 million in 2008 and $1.67 billionm in 2007. The companyt already has declined topay $163 million in claims duriny the first quarter of 2009, nearly equaling the total of $171 million for all of 2008. The company denied $28 millionb in claims for 2007. Most of the claims rejections are for mortgagezs issued in 2006and 2007, Zimmermaj said.
Most of the rejections are for sub-prime or no-documentationn mortgages, he said. The increase in rescissionds or denials reflects the significant amount of fraud and misrepresentation in loan documentx fromthose years, MGIC executives said. “We have frankly, a very high level of frauc in many ofthe transactions,” MGIC chairman and CEO Curt Culver told shareholderss at the company’s annual meetinfg earlier this month. The companty has added “a couple dozen” staffers to its interna team at its downtown Milwaukee headquarters to handls the increased volume of reviews and investigations on claims, Zimmerman said.
The jump in the amountzs of coverage MGIC is rescinding has surprised some lenders who have not previouslty experienced this level of scrutiny for Bari Gambacorta, a Lawrenceville, attorney who represents lenders, said in an interview that lenderd typically cooperate with insurers’ investigations in hopea their claims will still be paid. “Rather than brave the tempesy and honortheir policies, they (insurers) have electeds to get in front of the wave throughg this novel rescission approach,“ Gambacorta wrote on a blog wheree he noted the trend.
MGIC is working through several yearsz of losses from loans insured for poolsxof sub-prime and other low-standard In the cases where MGIC determines the claikm is legitimate, the company pays up to 25 percentg of the mortgage principal and other costws related to the mortgage, Zimmerman
The rejections provide some reliefto , against multimillion-dollar losses that started in 2007 as the residentialo real estate market skidded. However, the insurer is not engaged in a new strategyy tostem losses, said spokesmann Mike Zimmerman. “It’s part of what an insurance companh does, is review claims,” Zimmerman said. “It’s somethintg we’ve always done.” The claimj rejections are hitting the financial firmd that hold the mortgages after foreclosures, including and . MGIC denied 20 percent of claimd in the first quarter of compared with the historical average of 5 percentfor less, MGIC executives said.
MGIC and other mortgager insurers are reviewing more claims as mortgagr delinquenciescontinue increasing, placing pressure on insurers’ profits and their capital to cover the losses. MGIC reporter a net loss for the quarter endeds March 31of $184.y6 million after losing $519 million in 2008 and $1.67 billionm in 2007. The companyt already has declined topay $163 million in claims duriny the first quarter of 2009, nearly equaling the total of $171 million for all of 2008. The company denied $28 millionb in claims for 2007. Most of the claims rejections are for mortgagezs issued in 2006and 2007, Zimmermaj said.
Most of the rejections are for sub-prime or no-documentationn mortgages, he said. The increase in rescissionds or denials reflects the significant amount of fraud and misrepresentation in loan documentx fromthose years, MGIC executives said. “We have frankly, a very high level of frauc in many ofthe transactions,” MGIC chairman and CEO Curt Culver told shareholderss at the company’s annual meetinfg earlier this month. The companty has added “a couple dozen” staffers to its interna team at its downtown Milwaukee headquarters to handls the increased volume of reviews and investigations on claims, Zimmerman said.
The jump in the amountzs of coverage MGIC is rescinding has surprised some lenders who have not previouslty experienced this level of scrutiny for Bari Gambacorta, a Lawrenceville, attorney who represents lenders, said in an interview that lenderd typically cooperate with insurers’ investigations in hopea their claims will still be paid. “Rather than brave the tempesy and honortheir policies, they (insurers) have electeds to get in front of the wave throughg this novel rescission approach,“ Gambacorta wrote on a blog wheree he noted the trend.
MGIC is working through several yearsz of losses from loans insured for poolsxof sub-prime and other low-standard In the cases where MGIC determines the claikm is legitimate, the company pays up to 25 percentg of the mortgage principal and other costws related to the mortgage, Zimmerman
Wednesday, June 6, 2012
Newmont must sell 17% stake in Indonesian mine - Denver Business Journal:
opexibu.wordpress.com
The 17 percent interest is worthn anestimated $700 million, reported. Wednesday’s ruling by an arbitration panel in Genevas concerns PT NewmontNusa Tenggara, a subsidiaryh that operates the Batu Hijau mine on Indonesia’ds Sumbawa Island. The panel ruled that Denver-based Newmonrt (NYSE: NEM) and partner must sell 17 percentf of their interest inthe operation, eitherr to the Indonesian government or an entity it within 180 days.
But the arbitrators also ruledthat Newmont’x contract to operate the mine is still valid, despitr a challenge by Indonesian “We are currently reviewint the decision and look forward to outliningb a path forward with the government to implement the arbitrationh panel’s decision,” Richard O’Brien, Newmont’s president/CEO, said in a statement Wednesday. The ruling is part of one of several legal disputesa between mining companies and the Indonesian government over mininvg operations in the southeastAsian nation. Indonesia claims Newmont missed deadlines specified in its contract to sell portionsz of its interest tothe government.
Newmontg claims it did offer to sell part ofits stake, but the governmenr declined to buy it. According to The Wall Streert Journal, Newmont currently has a 45 percent stake in PT Newmont Nusa Sumitomo holds 35 percent and PTPukuafui Indah, a local Indonesian investor, has 20 Another 14 percent of Newmonr and Sumitomo’s interest must be sold off withi two years under the originap contract, which runs through 2030.
The 17 percent interest is worthn anestimated $700 million, reported. Wednesday’s ruling by an arbitration panel in Genevas concerns PT NewmontNusa Tenggara, a subsidiaryh that operates the Batu Hijau mine on Indonesia’ds Sumbawa Island. The panel ruled that Denver-based Newmonrt (NYSE: NEM) and partner must sell 17 percentf of their interest inthe operation, eitherr to the Indonesian government or an entity it within 180 days.
But the arbitrators also ruledthat Newmont’x contract to operate the mine is still valid, despitr a challenge by Indonesian “We are currently reviewint the decision and look forward to outliningb a path forward with the government to implement the arbitrationh panel’s decision,” Richard O’Brien, Newmont’s president/CEO, said in a statement Wednesday. The ruling is part of one of several legal disputesa between mining companies and the Indonesian government over mininvg operations in the southeastAsian nation. Indonesia claims Newmont missed deadlines specified in its contract to sell portionsz of its interest tothe government.
Newmontg claims it did offer to sell part ofits stake, but the governmenr declined to buy it. According to The Wall Streert Journal, Newmont currently has a 45 percent stake in PT Newmont Nusa Sumitomo holds 35 percent and PTPukuafui Indah, a local Indonesian investor, has 20 Another 14 percent of Newmonr and Sumitomo’s interest must be sold off withi two years under the originap contract, which runs through 2030.
Tuesday, June 5, 2012
Memphis City Schools lays off 320 - Memphis Business Journal:
martaemimbzini.blogspot.com
In a budget proposa to the Memphis City Council onApril 29, MCS superintenden Kriner Cash presented a plan to lay off up to 100 administratorxs and 250 custodial workers. The cuts were discusse and passedduring MCS’ April 9 budget meeting, duringv which MCS approved its budget of $875 million. MCS had no furthefr comment onthe layoffs. The job cuts were citedc in a Tennessee Department of Labor and Workforce Developmenft reportreleased Monday. The layoffs were implemented afteer an analysis revealed MCS had too many employeezs in some areas and not enough in saidMartavius Jones, Memphid City Schools Commissioner for Districtt 4.
“I can’t second guess what someone else did, but the districyt didn’t look to make difficulf reductions in workforce in the pastwhen necessary,” Jones He said the layoffs will be but there won’t be any more durinf this fiscal year. “There could be more difficult decisionsw to makegoing forward,” Joneas said. “Superintendent Cash put us on notice that it couldhappen again. The city counci l is currently reviewing the budget and assessingtthe city’s $84.7 million share of the 2009-10 budget.
The city has budgetefd school fundingat $25 milliobn for the coming school Last year, it cut $66 million in school The Shelby County Chancery Court has ruled the city is requiresd to fund the schools and it must pay MCS $57 millioh from last year.
In a budget proposa to the Memphis City Council onApril 29, MCS superintenden Kriner Cash presented a plan to lay off up to 100 administratorxs and 250 custodial workers. The cuts were discusse and passedduring MCS’ April 9 budget meeting, duringv which MCS approved its budget of $875 million. MCS had no furthefr comment onthe layoffs. The job cuts were citedc in a Tennessee Department of Labor and Workforce Developmenft reportreleased Monday. The layoffs were implemented afteer an analysis revealed MCS had too many employeezs in some areas and not enough in saidMartavius Jones, Memphid City Schools Commissioner for Districtt 4.
“I can’t second guess what someone else did, but the districyt didn’t look to make difficulf reductions in workforce in the pastwhen necessary,” Jones He said the layoffs will be but there won’t be any more durinf this fiscal year. “There could be more difficult decisionsw to makegoing forward,” Joneas said. “Superintendent Cash put us on notice that it couldhappen again. The city counci l is currently reviewing the budget and assessingtthe city’s $84.7 million share of the 2009-10 budget.
The city has budgetefd school fundingat $25 milliobn for the coming school Last year, it cut $66 million in school The Shelby County Chancery Court has ruled the city is requiresd to fund the schools and it must pay MCS $57 millioh from last year.
Sunday, June 3, 2012
'Bama seniors have turned the Tide - ESPN
sunrise-invoices.blogspot.com
ESPN | 'Bama seniors have turned the Tide ESPN By Graham Hays AP Photo/Sue Ogrocki Alabama senior Jazlyn Lunceford (2) is greeted by teammates after her home run against California. OKLAHOMA CITY -- Alabama's six seniors weren't the stars Sunday afternoon in the biggest game of their lives. |
Saturday, June 2, 2012
Controversial dam project in Chile's Patagonia region on hold - Los Angeles Times
gault-rickettsias.blogspot.com
BBC News | Controversial dam project in Chile's Patagonia region on hold Los Angeles Times SANTIAGO, Chile -- Plans to build a $3.2-billion complex of dams that would have flooded thousands of acres in the bio-diverse Patagonia region in southern Chile have been put on indefinite hold in the face of ongoing protests against the project. Chile's Patagonia dam project could be delayed |
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