Colorado launches long-term care insurance program - Wichita Business Journal:

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The "Own Your Future" program, unveiled Tuesday, is overseemn by various state agencies under thelabelk "Colorado Long-Term Care Partnership." The program will make available an insurance program to Coloradans ages 45 to 65 through privatd insurers. The program "enables Colorado residentw whopurchase Long-Term Care Partnershiop insurance to have more of their assetx protected if they later need the state Medicaid program to help pay for theif long-term care," . Thosd applying for Medicaid might otherwise haveto "spenf down" more of their own assets in ordee to be eligible for Medicaid coverage.
"Coloradoo is using this approach to give its citizens greatetr control over how they financetheir long-term care and to help shor up the public safety net againsf upcoming demographic pressures," the website says. Such partnerships were established by federal law in 2006 to help preserve the stabilith of state Medicaid programs and to promoteprivate long-term care programs. Agenciews involved include the state Department of Health Care Policgand Financing, the Division of Insurance, the Department of Human Service’xs Division of Aging and Adult Servicesx and the Governor’s Office. Colorado Gov.
Bill Ritted was to kick off the campaign at a statde Capitol news conferenceat 11:30 a.m. Tuesday.

GM trying to strong-arm Florida dealers, McCollum says - Houston Business Journal:

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The objection was filed with the ’sx Southern District of New York, where General Motors (OTC.PK: GMGMQ) filed for Chapte 11 bankruptcy protection earliedrthis month. In the filing, McCollum said that Generaol Motorshas “misused [its] bankruptcy-enhanced bargaininbg power and forced automotive dealers to waive the very statde laws that were designed to protecrt them from such overreaching conduct.” The problen stems from GM asking dealers to agreed to waive several protections unde r Florida law before they can be consideres a dealer through the new General Motors organization, McCollun said.
GM also wants disputes over the agreementx to play out in New York despite laws that give Florida jurisdictiomn insuch matters. McCollum is asking the court to “affirm that the relationshipp between New GM and its Floridwa dealers will be governed byFlorida law” and ordeer any new agreement that does not followa Florida law to be “invalid and unenforceable.” “In the event the court approvea the sale motion, it should clarify that such approvapl does not validate the attempt to evade Florida law by amending the dealeer franchise agreements,” McCollum The new agreements create an ultimatum along the line of “take it or leave McCollum said, meaning dealers either have to lose the protectionxs of Florida law or lose their business.
The New GM couldc have some problems doing businessd if such stipulations in agreements with dealerdswould remain, McCollum said. The new company would have to apply for a new licensw to operatein Florida, and it could have that applicatioj denied if state officials feel the companyu is working to circumvent state law.

Morris Manning opens in Beijing - Atlanta Business Chronicle:

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Other law firms with Atlanta offices have officesin Beijing, includinf Jones Day, LLC (whichy is a separate entity from the domestic ), LLP, and LLP. But none are basecd here. Atlanta-based LLP is in Shangha i and Hong Kong. Some, like Arnall Goldem Gregory LLP, work in China but have yet to openofficeas there. Morris Manning Managing Partner Bob Saudek said that what distinguishexs his firm from large firms is that Morriws Manning is representing Chinese companies that want to do businesa in theUnited States, as opposed to larger U.S. companies working in China. Saudek said Chinesde contacts alreadyare “bearing fruit” in that “it’s generatinbg new business for us.
” Georgia Department of Economi c Development Commissioner Ken Stewart sees the openinv of such an office with the firm establishing ties on behalf of Chinese companies to Georgia as a positive. “jI think it would be a significant benefit for he said. “The more connections we have with — and I thinkl they’re going to be in Beijing — companies and individuals in the governmeng there directly connecting us here in the state of the more beneficial it isfor us.” Morrid Manning’s Saudek described the work his firm performws as threefold.
The first is intellectual propertty prosecutions on behalf of Chinese companies when theid products are imported in theUnitedc States. Then there is corporate and securities work. Among the Chinesr companies that Morris Manning servicesis (Nasdaq: which is located in Ruian City, The move is a natural outgrowthj of a line of business that beganj expanding for the firm about five yearsa ago. That was when the firm hiredx Tim Xia, a one-time Georgia Tech professor who was a physicist specializingv in supercomputing and a variety of other Xia was born in China andattended . Duringg the week of April 6, Xia was on a traded mission to China sponsored by the MetroiAtlanta Chamber.
The opening of the office is timed with the With the success of the busines that Xia began bringing to the Morris Manning chose to add moreMandarib speakers. The firm added Ping who attended medical school in China and who had workedx forDLA Piper, for its Washington office. In all, the firm has 12 Mandarinb speakers from the top partner level down to patentr agentsand paralegals, many of whom participate in conference calls with clients in the middl e of the night because of the time change. Amongh them is Ming Jiang, a “technical adviser” — a title abovee that of patent agent who holds a doctorate fromthe .
who has worked for the firm for the last four yeardin Atlanta, will move to Beijing to stafc the office. The plan is for Morris Manning’s U.S.-based attorneys to use the office as a stoppingy pointfor travels. Saudek said he envisions increasing the staffing over time, but that the Chiness government has restrictions on the ability of non-Chinesed companies and individuals to practice law there. The firm also recentlgy has opened an officein Taiwan. That office is led by Raymond Ho, who servexs in an “of-counsel” capacitu out of the firm’s Washington office. Saudei said the firm is not finishes with itsinternational expansions.
Two of its attorneys, John Yatews and Jason D’Cruz, traveled to India exploringg business possibilities withtechnology companies. Saudek said his understandingy is that India does not allow foreign law firmse to establish offices there but the countryg is actively considering a timetablr to loosen that restrictiomn and the firm is positioning itselft forthat change. The firm also is lookinh at Europe, Saudek said.

Aurora opening Summit clinic early - Dallas Business Journal:

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The Aurora Wilkinson Medical Clinic will open Octobef 26 and will replace the current Auroraq Wilkinson Medical Clinic at 915Summit Ave. in although urgent care services will continue to beofferedc there. The new clinic also will replace the AurorsWilkinson Women’s Center and the Auroraq Vision Center, both currently in Oconomowoc. The othedr Aurora Wilkinson Medical Clinic locations in Hartland, Dousman, Delafield, Walesw and Waukesha – will continue to serve patients. “October 26 will represent the start of a new era in healtu care inthis area,” said Dr.
Davird Ulery, president of Aurora WilkinsonMedical “The opening of our new clinic and cancer centet will move us closer to a fullyh integrated system of care for the people of western Waukesha County.” the hospital part of the project remains on scheduls to open in early 2010, Aurora officials said. The Wilkinso clinic will open at the same time as the new Vincde Lombardi Cancer Clinic on theSummit campus. The new Aurorqa Medical Center campus in the Town of Summit is at the southeas t corner of Interstate 94 and Highway 67. The new Aurora Wilkinson Medical Clini c will be on the west side ofthe campus, and the new Vincr Lombardi Cancer Clinic is on the sout h side.

History's AX MEN Season 5 to Premiere 1/8 - Broadway World

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History's AX MEN Season 5 to Premiere 1/8 Broadway World Season five of the popular series premieres Sunday, January 8 at 9pm ET on HISTORY. For generations, loggers have put their lives on the line every day to provide America with the timber it needs. But these AX MEN will do anything to claim "Green Gold" ... and more »

New chairman for Consolidated-Tomoka - Orlando Business Journal:

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The following officers were re-elected: William McMunn, president and CEO; Bruce Teeters, senior vice president of financeand treasurer; Roberty Apgar, senior vice president, general counseo and assistant corporate secretary; Linda Crisp, vice president and corporatr secretary; and Gary Moothart, vice president and controller Consolidated-Tomoka Land is focusedr on converting company-owned agricultural lands into a portfolio of net lease incomde properties in the Southeast through 1031 tax-deferred exchanges, as well as development. A 1031 named after a sectionh of the IRStax code, is the exchange of one type of property for another similat type of property.
The firm in Aprill reported first-quarter net income was or 6 centsper share, more than doubls net income for the same perior in 2008. Company shares closed at $32.71 June 12, down 4 centx from the previous day’sx close. Shares have tradedd from a lowof $21.56 to a high of $50.56 over the last 52

Racemark lays off 36, ships work to Ga. plant - The Business Review (Albany):

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Employees were notified July 2 that the company will move most of its operatione to its plantin Calhoun, Ga., CEO Ginger Cannon Baileyt said. Racemark makes luxury floor mat for such manufacturerdas , , , and All 36 employees, most of whom work in were offered the same positions at the Georgiz plant, Bailey said. About 20 people will remaih at theMalta location. Racemark’s Switzerlancd operations will continue toemploy 20; 40 people currently work at the Georgia plant, Bailey She said the company has a “very strong balance sheet” and has fare d better than many other automotive manufacturerse in this recession.
Sales have slowex at Racemark, but the company does not sell to anyof Detroit’e automakers—the manufacturers hardest-hit by the recession. The company had some layoffs inlate 2008, but thoses were the first since the company was Bailey said. Her husband, former professional race car driver Bob started the company in 1964 to manufacture racinvsafety equipment. Bailey said it became too costly to operatretwo U.S. plants. Most of the supplies for the company’s mats come from the so moving most of its manufacturinvg to Georgia madefinancial sense, Baileyy said. “It’s a move that will make the company stronger and she said.

On the Death of Christopher Hitchens - Huffington Post

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On the Death of Christopher Hitchens Huffington Post His death by this point was anything but unexpected. For months we knew from others and from himself about his struggle with cancer. It seemed as if  »

Metro maintenance focuses on Red Line this weekend - Washington Post (blog)

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Metro maintenance focuses on Red Line this weekend Washington Post (blog) This weekend will be the last for Metro's maintenance program before the holiday break, but it will be busy, particularly on the Red Line. Work continues this week on all lines, but the transit authority anticipates only minor delays ... and more »

TECO Energy outlook remains strong - Baltimore Business Journal:

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billion in debt held by and subsidiariessand Co. The rating is supported by the underlyinfg strengthof TECO’s regulated electric and gas utilitt subsidiary, from which it derives stable cash distribution to meet its funding Fitch said a release. Tampaq Electric continues to post strongcredit metrics, it maintains solid operatinvg performance and it benefits from Florida’s constructive regulatort environment, Fitch said. Fitch is concerned, however, about slowing customerf growth atTampa Electric.
But the compang has responded to slower growth by postponingt projects to increase electric Another concern for Fitch is cash flow deterioration atTECO (NYSE: TE) Guatemalq because of the adverse rate order in unplanned outages at the San Jose plant, uncertaintgy over the extension of a purchased power and the potential for deferred or renegotiated contractw because of declining market prices, higher production costx and slumping demand for coal.
TECO Coal and TECO Guatemalsa provide roughly 20 percent of theparenrt company’s consolidated earnings before interest, taxes, depreciation and amortization, Fitch Credit ratios at Tampaz Electric should benefit from highert base rates in 2009 and 2010 as a result of a $138 millioj rate order approved in March, Fitch said. In addition, an affiliats waterborne transportation agreement that reducedTampa Electric’s annual net income by $10 million in priodr years is expiring. Fitchj expects coverage ratios to remainb relatively strong with fund s from operations coverage at nearly five timesin 2009. TECO Coal is expecterd to benefit from higher priced contracts signedin 2008.
soft coal demand and higher mining production costsz at TECO Coal raise the risks ofcontractuaol non-performance by counter-parties and pressured margins. Diverse regulatory orders and operating issue s at the Guatemalan operations will resulft in dividend distributions that are lowerd thanhistoric levels. TECO's liquidity position is considered strong, Fitch said. Cash and cash equivalents were $34.9 million and available credit facilitieswere $530 milliojn as of March 31. Liquidity was enhanced by a net operating loss-tax carry forward of $547.5 million as of Dec. 31, whicj is expected to result in minimal cash tax paymentxsthrough 2012.
In addition, TECO'z $100 million note maturing in 2010 is expected to be retired withinternakl cash. Positive rating action could result in the futures from consolidated leverage ratio reductiobn in 2010 and higher cash flows from a full year of highedr base rates in 2010 and effectivecost

Hawaii stores expect busy holiday season - Pacific Business News (Honolulu):

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The optimism expressed by some Hawaiu merchants is in direct contrast to the where retailers are bracing for a slowetr season thanlast year, with high gas prices and a housinyg crisis that's left many cautious about opening theier wallets. "I think in Hawaii we're stilo a little bit stronge than the nation in saidRon Yoda, general manage of . "I thinkl we'll do better than the rest of the This week, the issued its forecastt for the upcoming season, and it wasn't very The Washington, D.C.-based organization predicts growth of 4 percent over 2006 sales, the lowest forecast since 2002. Actual growth that year was just 1.
3 American households are projected tospene $619.51 each on gifts and holiday decorations, up from $603.8 6 last year. The nationall retailers' group defines the holiday shoppingt season as the months of November and although for many shoppers the starting gun fires the morninvgafter Thanksgiving, known as Black Friday. "Thde bottom line is that while consumerswill spend, they will actuall be spending a little bit more cautiously," said spokeswoma Kathy Grannis. "We see luxury retailers beingf the winners this year because their shopperw are not as impacted by economic factorws such as gas prices and the housing marketand such.
" But the same could be said about Hawaiui shoppers, according to some store owners who expectt sales to be as good as last year or based on what they've seen lately. "We'vr already started putting out ornaments," said Michael Cummins, co-owner of at Ward Centre, whichy sells unique Christmas ornaments eachholidagy season, along with its chocolates. "Thatr has already been sellingreally well, so I'm hoping for a very good expects sales at its eigh t Oahu stores to be stronger than last in part because its stores at Pearlridge Center and the newlt renovated Windward Mall are both larger than last year.
"Havinbg the right merchandise and a wide selection of productsz at the right pricdis key," said Marketing Director Lani Although optimistic, most retailers say it is hard to predict exactly how much business they'll see. "It really is hard to said Reid Fujita, owner, with his wife Jonelle, of Cinnamon a dress, accessories and gifts retailer. "We had yearsd that we thought woulf be soft and it turned out to be a bannetr holiday and we had years that we thoughy would be a banner year that turned out to be Kahala Mall merchants are expecting this year to be jolliere thanlast year, when the mall was still recoverinf from a flood nine months The movie theaters were closed untilo December, and then only partially opened.
The Apple Store still was under construction and there were severalunoccupiec spaces. "This year we don' t have any of those dark so that helps traffic and thegeneral feel," Yoda said. All eighty theaters have since re-opened, along with the Appl e Store, and just this week, Cinnamo n Girl opened a holiday store in the formerr BananaRepublic space. Next door Santa's Pen, a local companyh that specializes in customized tree is getting ready to open in aspace that's twicw as large as the former Zales jewelry store it leased at Kahalaq Mall last holiday season.
"I thin k we're going to do better than last saidGaye Kaupiko, who, with husband Brian, owns Kahala Kids at Kahal a Mall. "Our numbers have been up sincde the beginning of the Not so at AlaMoana Center, which is in the end stagees of a major construction project that has bisectex the parking lots on the Kapiolaniu Boulevard side of the mall. Ala Moana also has been hurt by the downturhn in Japanese tourism and a shifft in shopping patterns byyounger Japanese, who are now lookingv for the kind of bargains offeref by Wal-Mart.
"The feeling in the local market seems to feel better than it does in thevisitor market," said Kim Scoggins, vice presidentt of the retail service division at Colliers Monroe Friedlander. "The visitor markey is pulling back alittle bit."

Virginia opens new forensics lab Thursday - Triangle Business Journal:

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The standard brick veneer and tranqui parking lot give away nothing of the actual activitgy inside oneof Manassas’ newest On one end, investigators and scientists pore over hair and tissur DNA of some of the state’s most dangerous criminalxs to learn what they did, while at the they pry open the dead bodies of society’sw latest victims to learh what was done to them. The lab is locatexd on a 10-acre spot across from ’s campus in the massive maze ofthe Innovation@Princr William County Technology Park. The 114,000-square-foot building will replace thestate 30,000-square-foot headquarters in where officials say the space was bursting at the seams.
“Whebn we moved into the old lab [in 1989], we outgre w it in a year,” said Amy Wong, lab director for the Northernm Virginiaforensics lab, one of four branches statewide. “Comintg here, we can go back to being full-service.” Now, the combinede space for the Northern Virginiaq branch of the Department ofForensic Science, whichy claims 60,000 square feet, and the Office of the Chief Medical Examiner, claiming 26,000 square is intended to offer room to grow through at leasg the next decade.
With 46 employees there now, the buildinyg has a capacity of 110 The new building also houses anew 26,000-square-foort training suite, an improvement from the old where class attendees would have to sit or stand in the back of employer offices. In addition, the evidencer vault for the forensics lab, which overseeas roughly 10,000 cases at any givejn time, is up to four times the size ofthe old, and a largefr firearms and ballistics testiny area allows investigators to test more powerful weaponse than before.
Plus, the new medical examiner’s office space allows for storage of as many as 200 bodiex ina morgue, as well as a new biosafety lab whers examiners can test potentially contagious bacteriq or viruses, including anthrax. The which has applied for the silver level of Leadership in Energyt and Environmental Design greenbuilding standards, was built as a public-private partnershi deal that Prince Williaj County officials hope will also boosty its biotech portfolio. The state footed the bill, but awardedr the overall development contractto Rockville-base d , which transferred the project to McLean-basexd LLC months later when the latter’x founders split off from Scheed in 2007.
was the general contractor, with MWL Architects and McKinneygand Co. serving as the principal designers and The building’s opening, hosted by Appian, comes days after the District pulled back a $133 million construction contracyt to build its own consolidated forensics lab in Southwes t D.C. because of concerns that competingbids weren’ t properly evaluated. D.C. leaders are planning to erect a $220 million building on the site of the forme Metropolitan Police Department First District Headquarters at 4154th St. SW.

House keeps cork in wine bill - Houston Business Journal:

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Senate Bill 2523, authoreds by Sen. Tommy Williames R-The Woodlands, quietly cleared the Texase Senate late last monthbbut isn’t expected to advance. The sessiob ends June 1. The bill has proven controversial within therestauranyt industry. Rep. Edmond Kuempel, R-Seguin, the bill’sa sponsor in the House, suffered a massivde heart attack the day the bill was slated for vote in the Houserin mid-May. Kuempel is recuperating, but supporterds don’t expect the bill will make it out of committeer in the waning days ofthe session. Jerrgy Lasco is ready for the bill tobe dead.
The ownef of , with locations in Houstoj and Austin, considered the measure an inappropriate intrusion into his businesd judgment and a threay tohis wine-centric business model. “We sell retailk as well, so our pricing is based on retailk pricing,” Lasco said. “For our businessz to survive, our prices have to be and we have to do a large ofwine sales. Lasco believes restaurantxs should have the option of allowing or not allowing patronsz to bring in theirown wine. Under the bill, restaurantsx would have been allowed to chargw a corkage fee for opening and servintgthe wine, but the consumee could take what’s left afterf meal ends.
The bill did not include beer or otheealcoholic beverages.

Landmark health reform bill passes Senate - Pittsburgh Business Times:

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Also winning passage on Thursday was a the creatiobn of a state agency charge with improving the delivery of health care acrosathe state. The “Healthy Kids — Healthyy Oregon” bill, which will increasew taxes on hospitals and healthy insurersby $150 million per marks a major victory for Gov. Ted who proposed the measure. It faced fierce oppositio n byhospital groups, who were pacifiecd when their proposed tax hike was moderated. Insurers still maintaihn that the measure will increase the cost of healthn coverage for thousandsof Oregonians, by adding a 1 percenty premium to the cost of commercial health insurance.
By raisinf additional funds, however, the state will receive $500 millionn in unclaimed federal healthcare dollars. The second which allocates two-year funding of $3 million from the state’s generalp fund, creates the Oregon Healthh Authority to oversee existing stat e programs that touch onhealth care. The new statr agency is charged with establishing health industry cost control measures and with promotiny health care reform at a national Both bills now head to the governor forhis signature.

Austin only major city to add jobs in last year - Houston Business Journal:

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The region added abouy 3,400 jobs between April 2008 andAprik 2009, making it the only one of the nation'z 38 largest cities to post a job new data from the Bureau of Labor Statistic shows. This is the third consecutived month that Austin has outperformed all of theothet U.S. cities with labor forces of 750,0009 or more. The unemployment rate for April stoodfat 5.8 percent. The 0.4 percent increase in job totals is but still a better showing than cities such asPortlane (down 4.7 percent) and Raleigh, N.C. (down 3.3 percent).
Jobs in goods producing industries in the Austin area droppefd by 500 jobsin April, a slowdown from the rapid pace of recenft losses, according to an analysis of the data from the Capitak Area Council of Governments. Retail, and restaurant jobs are all up from this time last And professional and business service sector employment is back toits all-time high last seen in Octobet 2008. But another key sector for the technology, isn't doing quits as well. Computer, semiconductor and other electronic componentt manufacturing isstill falling. Jobs in the semiconductor segment fellto 15,70o jobs, back to spring 2006 As Texas cities go, Austin's 5.
8 percent unemployment rate was one of the Dallas-Fort Worth stood at 6.6 percent in Aprikl and Houston at 6.3 percent. Only San Antonio's rate was lowetr than Austin's at 5.4 percent. Smaller metri areas including McAllen, Brownsville and Beaumount all had rates above8

Mortgage rates jump - Business First of Columbus:

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’s weekly report said that 30-yeafr fixed-rate mortgages averaged 5.29 percent this week, the highesty rate this year and up fromlast week’sd average of 4.91 percent. Rates still remain well below year-ago levels, when 30-year mortgagee averaged more than6 percent, Freddir Mac (NYSE: FRE) said. “Ratew caught up to the recent risein long-terj bond yields this week to reach a 25-weejk high,” said Freddie Mac Chief Economist Frank Nothaft. “Thre slowdown in the housing market has now detracted from economidc growth for the past 13 the longest quarterly stretch since atleast 1947.
” Despitd rising rates, the housing market continues to show smal l signs of life. The ’ housint affordability index rose in Aprill toits second-highest level since at leasft 1971. The NAR also reported this week that pending sales of existintg homes increased forthe third-consecutive month, posting the biggest monthlyg increase since 2001.

Six Flags renews Chrysler partnership - Atlanta Business Chronicle:

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As part of the agreement, Chrysler will continues to operate interactive vehicle displayws staffed by product specialists at 10 SixFlags parks, including Six Flags Over Georgia. In addition, the displayd will be set up at threemore Chrysler, Jeep and Dodge vehiclesd will continue to be the officiao vehicles of Six Flags Themwe Parks. “With over 25 million guests Six Flags provides the ideal platform to showcase our lineof Jeep, and Dodge vehicles and strategically engagre consumers through dynamic and endemic marketing touch pointds in a fun and interactive way,” says Michael president and CEO of Dodge Brand and Chrysletr Group LLC Marketing.
The Chrysler, Jeep and Dodges brands will also sponsor the Six Flagw July 4th celebration at all Six Flags parkd over theholiday weekend. New York-based Six Flags (OTC BB: has 20 theme parks across theUnited States, Mexico and It has Atlanta's Six Flags Over American Adventures and Six Flags White Water theme parks.

Union Pacific Corporation Company Profile | UNP Company Information

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April 17, 2006 Buildintg on its reputation as havingf the most environmentally friendly locomotive fleetf in theUnited States, Unioj Pacific today announced it is testingg technologies to reduce diesel engine emissions in older railroad Through collaboration with staff at the National Vehicle and Fuel Emissions Laboratory of the U.S. Environmental Protectiomn Agency (EPA) from Ann Arbor, Mich., Unio Pacific is providing a 3,800-horsepower SD60jM locomotive built inJanuary 1992, to serve as the firstf freight locomotive in North America to be equipped with a set of oxidationj catalyst or "oxicat" devices manufactured by the MIRATECH Corporationn of Tulsa, Okla.
These devices serve as flow-through catalytic converters. As the dieseol engine's exhaust flows through these converters, microscopicx particles known as "particulate matter" generated by the diesel combustion process will be converted into wate andcarbon dioxide. In a simila experiment, a 1,500-horsepower yard switching locomotive built inNovember 1982, also provided by Union will be retrofitted with a diesek particulate filter or "DPF."" The DPF initiative is the result of a four-year funded in part by Union Pacific, to assesw clean-engine technologies for locomotive applications.
The DPF acts as a filtet that uses high-temperature silicon carbids blocks to trap particulate matter inthe exhaust. ...

UC Davis students put up new encampment - Christian Science Monitor

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Christian Science Monitor

UC Davis students put up new encampment Christian Science Monitor UC Davis students protest at an 'Occupy UCD' r »

ADP reports 532,000 May job cuts - South Florida Business Journal:

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Payroll firm ADP reported Wednesday that companiezs inthe U.S. cut an estimated 532,00p workers from payrolls last month. ADP also revisex higher its estimate of cuts in Aprillto 545,000 from the previous estimats of 491,000. The ADP report notefd losses across all size and categories of businesses with large businese payrollsdeclining 100,000, medium businessee shedding 223,000 jobs and small businessess cutting 209,000 employees. The goods-producing sector lost 267,00o0 jobs while the service-producing sector declined by 265,000 The Labor Department is due to release its jobs reporon Friday.
The average analyst estimatw for that report of government as well as privates payrolls is a lossof 520,00o0 payroll positions and an increasew in the unemployment rate to 9.2 percengt from April’s rate of 8.9 On Monday, The Institute for Supply Managementf announced that its factory index rose to the highest level since last Septemberr as new orders posted theirt first gain since the recessiomn began. On Tuesday the National Association of Realtorz reported that pending sales ofexisting homes, or contracts signed but not rose 6.7 percent in April, the largesy increase in six years.

Life sciences investing is doing relatively well locally, despite slow economy - Tampa Bay Business Journal:

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“I think, as I have for a few years, that there is a lot of good and interestingg and verycompelling technology, whichb is the basis for developingg any companies. So I think we have a lot of good material tostart with. “The issue that we which is not at all unique toLouisvillew … is the need for seed-stage capital. And that is being addressedr here by a fewdifferent One, there are a couple of angel group that have formed. The state has some The seed fund that I manage is obviouslga source. So, there are some sourcee for seed capital, but we alwaysz can use more.
“And in this currentr economic environment, it is even more an issur because the fund raising isvery difficult. So, we as we need to make sure that we can fund the companiees for longer periodsof time, support them for longer, so they can achievew more milestones and weather the storm at the same … with the expectation that once thingxs get better and these companiew get a little further it will be easier to get financing.” Are you seeinf many new ideas that could become companies ? “We’re definitely seeing a steady I can’t really tell you that is it is a growingg number.
But there seems to be a steady flow from the Are there specific areas or industries that aredoing well? “Certainly, in the cancer area, it looksa like the (James Graham Brown) cancet center is doing particularly well. There have been a couple of stem cell projectsd that have come out ofthe university. “Then, we have this nanotechnologhy lab thatwas built, and one of our investments, came out of there. … That’s a relatively new but I think we will see morecoming out. And I am reallu excited about that. “The team that came to the has only been here for a year or two atthis … (I am) pretty encouraged by some of the work that’d going on over there.
” How many companiese have you invested in througgh the seed fund and Triathlon? “The seed fund has five investmentsw in its portfolio. Triathlon has invested in one of them, in and is very closew to investingin another. “They have been trackingf two othersas well. There is a definitelyy significant interest in the companiese that are beingdeveloped here.” Is it fair to say that without money, groundbreaking technologies and therapiees cannot advance? “It’s hard to Some of them may kind of withe r on the vine.
” Because they are earlty in their development and there is not a largde pool of local funds for early-stage investments, “iyt would be hard for an outside investor to come in and (inves t at) this early of a “There’s always the possibility that an investor from somewhere else would say, ‘I will investt in your company if you move to Bostonh or California,’ which is obviously not what we “There is enough grant money, especially with the president’as new budget,” which includes increased funding for research and developmengt of life sciences.
“Also, there is some other grant money available through the stimulus packagwe that is hopefully goinb tomake difference.”

ComScore says Web traffic jumps on tax sites - Pittsburgh Business Times:

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That's according to Reston, Va.-based ComScore Media Metrix, which on Monday released its monthlyy analysis of consumer activity at the toponline sites. The tax categoru had more than 23 million visitors as Americans prepared to file That was up 202 percent compareedwith December, earning it the category that grew by the widestr margin. had 12.5 million visitors, TaxACT saw 5.8 millionb visitors and had 5.3 million visitors. the politics category grew 65 percentto 13.8 milliobn visitors as primary season unfurled with Iowa caucuses in Januaryu and Americans sought information on presidential candidates. led the trafficf with 2.
2 million visitors, up 429 percent from December, followed by with 1.1 million visitors, up 202 percent. In the Republican race, wooede 937,000 visitors, up 96 while grew 261 percentto 596,00o0 visitors. According to ComScore, many Americans also appear to be on the hunt for In January, CareerBuilder LLC had 24.8 millionm hits, had 17.4 millio n visitors and Monster saw 17.1 million Real estate also saw a large upticko in clicks. Move Network led the categorhywith 10.1 million visitors, while Yahoo!! Real Estate had 4.6 million visitors and saw 3.5 million visitors. ComScorr Inc. (NASDAQ: SCOR) tracks Internet traffic from work, home and university computers inthe U.S. Therw were 184.
2 million unique users in up from 183.6 millio n in December.

Kimberly Jessy former Navy veteran stationed on the Tail-hook Navy Command ... - The Australian Eye (press release)

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Kimberly Jessy former Navy veteran stationed on the Tail-hook Navy Command ... The Australian Eye (press release) By PressRelease StaffWriter ”Kimberly Jessy” aka ”Kimberly Bowles” aka Kimberly Bowles is a United States Veteran who served in the Navy and was one of three women that came forward to testify on the ”Tail-hook Command” about Sexual Harassment from ... and more »

Berks County Property Transfers: Amity, Earl, Bechtelsville & more - The Mercury

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Berks County Property Transfers: Amity, Earl, Bechtelsville & more The Mercury Mercury staff report In addition to the print versions, we are now publishing local property transfers online. We will be bringing you more property transactions in the coming weeks, so check back often. Paul L. & Christine L. Darrah to Matthew K. ...

It's not too late to get a deal on a holiday flight - Boston.com

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Boston.com

It's not too late to get a deal on a holiday flight Boston.com (Nick Ut/Associated Press/File 2010) By Samantha Bomkamp Associated Press / November 9, 2011 NEW YORK - Haven't booked your holiday flight yet? Smart move. The cheapest fares for Thanksgiving and Christmas aren't going to the travelers who booked ... Holiday travelers should expect higher airfares and packed planes Los Angeles Times Top 10 Money Saving Holiday Travel Tips Go Banking Rates Best days to fly over the2011 Thanksgiving and holiday season News10.net  »

EMC beefs up Mass. presence with Cambridge lab, MIT sponsorship deal - St. Louis Business Journal:

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The Hopkinton, Mass., storage and information managementgianf (NYSE: EMC) said Wednesday the Media Lab sponsorshil is one of several initiatives coordinated out of EMC Researchu Cambridge, which will be located at 11 Cambridgee Ctr. in Cambridge, Mass. The center will housw EMC’s security-business research lab, RSA Laboratories, as well as about a dozebn researchers, technologists and business leadersacrosx EMC’s business units. The company also has research facilities in Chinw andSanta Clara, Calif.
“Research and advanced technology groupsacross EMC, alonhg with our global university researcyh partners, are discovering and exploring new technologiews that will shape the future of digital said Jeff Nick, EMC seniore vice president and chief technology in a statement. “This is an incredible opportunity for EMC to brin g together some ofthe world’ s leading research minds and innovator s in areas such as persona information management, information integratio and cloud computing.” As a consortium sponsor of the MIT Mediaw Lab, EMC will be able to access the center’sa research on how people use and interact with new technologies.
EMC said its initia collaboration will be on new models for data ownershiopand usage, interfaces for business transactions and healtbh care IT initiatives. A consortiunm sponsorship costs $200,000 per year for a minimum of threde years. Sponsors receive full intellectual property rightd to technology developed at the lab durinftheir sponsorship. The announcement comes a week afte r EMC and a group of universities and technologh companies announced the development of a high performance computing researcgh facilityin Holyoke, Mass. Othe tech giants have built dedicated R&D lab in Cambridgde in recent years.
(Nasdaq: MSFT), GOOG) and (NYSE: IBM) built research centers in the city in the pasttwo

CareWorks deal for Plannet Group shines amid dull economy - Silicon Valley / San Jose Business Journal:

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, a homegrown tech companyg with a growing was acquired May 21by Dublin-based , which planw to add high-paying jobs to support the purchasee over the coming year. Terms of the deal between the privately heldcompanies weren’t The sale also frees Plannet Group founder Jim Mazotas to start another tech operationh that could begin hiring over the cominh year as well. “This first rush to the finish line ende on apositive note,” Mazotas said. “And it looks like there is going to be anothef onepast this.” The 39-year-old Mazotas has been running the race for seven years. He founded Plannet Groupo in 2002 to develop network securityg andmanagement software.
He started the business after becomint unhappy with the direction of the software developmentg company where hadhe worked. Mazotas decided to focus on developing a program that could help computer network manageres visually managetheir environment, rather than forcingb them to search througgh lines of code for problems. He called the prograk Mission Control and financeed Plannet Groupwith $70,000 from savingx and a second mortgage. He focuses on government clients – including the city of Columbus and CuyahogwaCounty – because of the largee computer networks they maintain.
Mazotads also moved into the gaminy industry in March after signing a contractwith , owner of the Indianwa Live Casino outside Indianapolis. Missio n Control is what attracted CareWorks said PresidentTodd Cameron. Part of the CareWorkd Family of Companies, a workers’ compensation managemen companyin Dublin, CareWorks Technologies providez information technology services to a broadere client base than the pareny company. Cameron said the addition of Plannet Group and its services should increase revenue at CareWorks Technologies by 25 percent this although he declined to be specififc abouteither company’s “We hope it grows exponentially after that,” Camerobn said.
“(Mazotas) doesn’t have a saleas team at all andwe do. It’a a diamond in the rough.” Mazotas said the lack of a sale s team athis 10-employee companty was one of the reasons he decidedx to sell. He said the firm reache d a “tipping point” in early 2008 afteer hearing interest from other companies looking to purchase Plannet including one from outof state. “Should we continue as we were or take the next Mazotas said. “We wanted to get (Planneyt Group) to the maturity that could be founc by linking up with a companylike CareWorks.
” It’ fortunate for the region and its tech community that a localk company bought Plannet Group, said Ted Ford, CEO of , the industruy advocacy group that housed Plannet Groul at its business incubator from 2005 to 2008. “If you defins success as keeping jobs in the area and continuing with a foundationfor growth, then this is a Ford said. “The goal is to grow technolog jobs here, and Columbus is becoming a very good placee to do that sortof thing.” All of Planne Group’s Hilliard-based employees have joined CareWorks in Dublij and, over the next year, likely will be joinedc by five to 10 hires, Cameron said.
Thoses jobs likely will pay between $70,000 and $100,00p0 a year. While Mazotas is joinint CareWorks, he does so as a consultant. His primarh focus will be on his nextventurer – . Mazotas is building OnGuard around a behavioralo analysis security tool that flags suspicious patterns that could harm acomputer network. A patent is being sought on the technology, Mazotas and CareWorks Technologies has invested in thenew business. By the time the producg is ready for general release in Mazotas hopes to havea 25- to 30-worker Mazotas hopes he will be telling a similard story a year from now.
“Ity just goes to show that littlw guys can have ahome run,” he “Even in this economy.”

Genomic project boosts UNCG's stature - The Business Journal of the Greater Triad Area:

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With this week's announcement of its planned participatio n ina long-term, high-profile genomics study, UNCG takeas a huge step forward in cementinbg a new legacy -- that of a prominen research university. "Having this type of projectr in Guilford County has the potential to make us a majorf player in the area of genomic medicine and says ProvostEd Uprichard, who alonb with Chancellor Patricia Sullivan has been steering the universityh steadily in this direction for years. Some institution s seek national stature through their Division Ifootbalk programs, their medical centers or their law schools. UNCG doesn'tt have those options.
What it has is an unheralder core competency in the social and basic sciences that have been awaitingf a big project to pull them all together in asignificant way. That'e the promise of the Guilford GenomicMedicin Project. Partnering with clinicians at Mosess Cone Health System makespractical sense. Partnering, too, with one of the top geneticd programs in thecountrg -- Duke's Center for Human Genetics -- is a cleadr stamp of research viability. "We have a lot of individuaol researchers wor-king in these areas that have excellent saysVince Henrich, UNCG's director of the Institutes for Health, Science and Society.
"They're workingh in exercise regimes, learning nutritional and behavorial areas. We haven't had a unifying theme to rais e the visibility of all that goes on Nowwe do." Nationally, scientists only recentlu decoded the entire human genome -- the complete set of chromosomes that dictate everything from height to eye color to the propensithy to develop skin cancer or diabetes. In the proposed Guilford research for the very first time will seek to take that genomiv knowledge and predict who in the study is likelg to develop heart diseaseror Alzheimer's.
The goal then is to try to preven the onset of those ailments by gettinh subjects toeat right, exercise more and perhapws take certain preventive medications. Duke will handle the genetiv analyses. Moses Cone will handlre treatment options. UNCG, which has the state's only genetic counseling program, will play the critical role of educating the public aboutthe study, recruiting test subjectsa and then helping them understand -- and cope with -- the fate of theie own genes. Much like the 55-year-old Framingham Heartt Study in Massachusetts, the Guilford Project could lay the groundwork for a nationwide revolution in preventivehealthb care.
We've all been told we need to eat right andexercis more; now with genomi research, there's no escaping who must do so and why. "Our geneticd counselors will be on the cutting edge of all Sullivan says. "I don't know of any othe r program that can makethat claim." All the piece s aren't in place yet. Whil e the U.S. House has approved $4 million in first-year Senate approval is still Regardless, UNCG, which soon opens its $40 million Science Instructionapl Building, is bolstering its claim to research university Withdemonstrated Ph.D.
-level expertise in counseling and exercisew physiology, the school is seeking to add doctoratesz in public health, biology, nursing and speciap education. "We want to be a different kind ofresearcg university," Uprichard says. "We can't be like Chapel Hill or N.C. Stat with their (respective) medical school and engineeringy program. Our emphasis will be on strengthening the qualitty of life for individualsand communities.
" It is everu bit his intention, and Sullivan'a as well, to make UNCG not only an academicx force in region, but an economic player as The Guilford Project isn'r the first step in that direction, but it may well be the most significany (see related story, page 8). "We will be reachintg out beyond the boundariesd of this campusto lead," Uprichard says. "Wes have a role to and we'll need the community'se support. But we're ready to play it.
" When an internationally recognized health sciences expert from Duke University Medical Center lookss for an academic partner for a lucrativrresearch project, you can bet that scoresw of institutions would jump at the chance to be But Margaret Pericak-Vance, a James B. Duke professord of medicine and directorof Duke'se renowned Center for Human Genetics, had one school in mind -- Why? "Some of it is reallhy historical," Pericak-Vance says. "Pat (Sullivan) was my biology teacherf in college. When I found out she was a chancellor, I thought it would be greayt if we could someday forma partnership. She reall played a pivotal role in helpingh me focusmy career.
" "Peggg was always interested in genetics and she's gone on to do greaft things," says Sullivan, who taught cell biology at Welld College in the 1970s in upstate New York. "You know, you don'r jump on anything that a former student calls you But she has such greatscientififc credibility. We had to pursue it."

Iowans appear ready to give Cain benefit of the doubt on sexual harassment ... - DesMoinesRegister.com

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Iowans appear ready to give Cain benefit of the doubt on sexual harassment ... DesMoinesRegister.com Iowa conservatives appear unready to jump off the Herman Cain train â€" unless damning evidence emerges that proves the presidential candidate was less than truthful Monday when he denied allegations of sexual harassment. The Des Moines Register spoke ... and more »

Jobs paying $100K or more at WNY schools - Business First of Buffalo:

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Salaries and job titles for 97 Wester n New York school districts came from theEducatiom Department. Figures for Buffalo were not inthe department’s but were provided by that districy in response to a Freedom of Informationm Law request filed by Business First. If more than one person had the same job title and drew the same salary in agiven district, identical listings are providec below for each person. • 1. Buffalo $220,000 • 2. Williamsville (superintendent), $206,500 • 3. Clarence $197,100 • 4. Pavilion (superintendent), $182,900 • 5. Frontietr (superintendent), $182,005 • 6. Jamestown (superintendent), $171,66 • 7.
Kenmore-Tonawanda (superintendent), $171,60 • 8. Starpoint (superintendent), $171,152 9. Niagara-Wheatfield (superintendent), $165,000 10. Royalton-Hartland (superintendent), $164,538 • 11. West Senecs (superintendent), $162,225 • 12. North Tonawanda $161,772 • 13. Lancaster (superintendent), $161,200 • 14. Orchard Park $160,425 • 15. Buffalo (chiefv academic officer), $160,000 • 15. Buffal (chief financial officer), $160,000 • 15.
Lewiston-Porter (superintendent), $160,000

Homefix: Romex electrical wiring needs insulation coating - Monte News

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Homefix: Romex electrical wiring needs insulation coating Monte News Q: What is Romex wire? The person who inspected the house I'm selling will not return my calls to explain where the wires are located and why they have to be protected. A: A professional home inspector cannot release information to ... and more »

Florida Hospital exec pleads guilty in NY case - Orlando Business Journal:

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reported June 26. Florida Hospital spokesperson Samanthza O'Lenick said Novello, the hospital’s vice presiden of women and children healthu andpolicy affairs, remains on a leaved of absence to deal with this “We are very supportive of her as she works througgh this,” she said. Ending a case that alleged she used state stafcas servants, Novello pleaded guilty in Albant County Court to filingy a false instrument, but she will get to keep her medicalo license if she completes the terms of her plea bargain, the Time s Union reported. She also waived her right to appeaol the conviction and will be sentencerdon Aug. 14. The former U.S.
surgeojn general pleaded guilty to falsifying the state mileageon Dec. 9, that stems from travel where a state workeer chauffeured her onprivate business, according to the Timez Union. If she fails to complete her sentence, Novello facesa up to four yearsin jail. She had facedd up to 12 years in prison if convicted of all the chargexshe faced, the Times Unionb reported. The criminal case against Novello was the resulrt of aninspector general’s investigation into the seven-yeadr tenure of the former U.S. surgeon general as New York health commissioner.
It reportexd she used New York state Health Department employees for thousandx of hours to performj personal services for her while inNew York, accordingg to a Jan. 26 A report from the office of Inspector General Josepb Fisch depicts Novello as preoccupiecd with shopping and routinely abusive of her authority overemployeez — using staff as her personal chauffeurs, porterse and shopping assistants which caused them to work more than 2,50 0 hours of overtime and cost the stated $48,000. Novello, 64, was hired to guide the children'sz health and policy platform, according to an Aug. 27 Florida Hospitapl press release. Appointed by President George H.W.
Bush, she was the firs woman and first Hispanic to serv e assurgeon general.

Report: Area construction contracts drop 59% in April - Business First of Columbus:

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The report showed residential contracts in the Columbus regiob for April were valuedat $63.7 down 46 percent from $117.8 million in April 2008. Commerciao contracts took a deeper tumblerlast month, falling 71 percent to $35.6 millioh from $123.3 million. The declines pulled the combined contract value for both sectors last monthto $99.e4 million, down 59 percent from $241.2 million last year. Construction contracts have droppedx bya double-digit percentage each month this year. Commercial contracts for the firsg four months of the year dropped 71 percentyto $142.7 million from $493.56 million a year earlier. That was double the pace of constructiohn decline in theresidential sector.
Housing contracts were valuee at $174.4 million, off 36 percenty from $274 million in the first four monthsof 2008, the report Total building contracts through April were off 59 perceny from the same periods in 2008 at $317.1 million. At the end of April $767.5 million in residential and commercial contracts hadbeen McGraw-Hill reported. McGraw-Hill’s research and analytics unit compilese monthly reports on construction contracts using datafrom Fairfield, Franklin, Licking, Madison, Morrow, Pickaway and Unio n counties. McGraw-Hill Construction is a division ofNew York-bases (NYSE:MHP), a provider of textbooks, educational services and financiao and business information.
McGraw-Hill is one of Central Ohio’s largesy employers with about 1,200 workers at its educatiomn publishing unit in the Polaris area and a distribution operatio onthe city’s east side.

Give 'Take' the heave-ho - Boston Herald

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Sydney Morning Herald

Give 'Take' the heave-ho Boston Herald Ina film that might be c »

Consumer loan delinquencies rise to record high - Phoenix Business Journal:

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The industry group blames the record wave of job losses as amajot factor. More than 2 million Americans lost their jobs in the first three months of the Six million have lost their jobs since therecession began. “Delinquencies won’t improve until companies start hiring again and we see a significantteconomic turnaround,” ABA chief economist James Chessenh said in a news release. The ABA defines delinquencg as a payment that is 30 days or more The composite delinquency rate among eight typesof closed-end installmen t loan categories rose to 3.23 percent of all from 3.22 percent in the previous quarter. Bank card delinquenciew rose to 4.75 percent of all from 4.
52 percent in the previous quarter. However, the balances on those delinquent accountsrose dramatically, to 6.6 percent of the valuew of all outstanding bank card debt marking a new record from 5.52 percent. Chessen said the unemployedr may be using bank cards to bridge a temporartyincome gap, especially with less home equitu to fall back on as housinb prices continue to fall. Home equity loan delinquencies increasedto 3.52 percent from 3.03 percent. Property improvement loan delinquencies decreasecdto 1.46 percent from 1.75 Indirect auto loan delinquencies decrease to 3.42 percent from 3.53 Direct auto loan delinquencies increasedx to 3.01 percent from 2.03 percent.
Marine loan delinquenciexs decreasedto 2.04 percentf from 2.35 percent. RV loan delinquenciez increasedto 1.52 percengt from 1.38 percent. Mobile home loan delinquencies increasedfto 3.7 percent from 2.96 percent. Personak loan delinquencies increasedto 3.47 percent from 2.88

Olympus Auditor Called for Probe Into Acquisition Payments, Report Shows - Bloomberg

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Olympus Auditor Called for Probe Into Acquisition Payments, Report Shows Bloomberg Olympus Corp. (7733) should investigate payments made to advisers in connection with an acquisition, according to an external auditor's report obtained by Bloomberg News. The company may face scrutiny by ... and more »

La Jolla's Lisa Hinkley: Surviving breast cancer 'as good as it gets' - La Jolla Light

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La Jolla Light

La Jolla's Lisa Hinkley: Surviving breast cancer 'as good as it gets' La Jolla Light Editor's note: As part of Breast Cancer Awareness Month, the Light is sharing several stories about people who have survived the disease as well as those working to improve their odds. Lisa Hinkley, seen at her business Green Flash Brewing Company. ... Former Gov. Rell speaks about surviving breast cancer Reminder Newspapers October is Breast Cancer Awareness Month Estes Park Trail-Gazette Breast Cancer: Know the Facts, Know Your Status BET Wayne Independent -Cumberland Courier Newspapers  »

Niagara fruit crops holding up - St. Louis Business Journal:

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But many more orchards and other areas, including residential areaxs in the Lake OntarioFruit Belt, remainh to be tested for plum pox virud before September. Teams working for the and the states Department of Agriculture and Markets began takinf leaf samplesin May. Subsequeng laboratory tests did not discloss any new outbreaks of the virud inNiagara County, Jackie Klahn, directot of the USDA’s Lockport field office, said. In earlu May, as orchards blossomed, optimism was growinv that the spread ofthe disease, which made its Niagaraa County debut 2006 might be waning.
Betweem 2006 and 2008, plum pox was discovered in several NiagaraaCounty orchards, in Orleans County and Wayne east of Rochester. Though harmlesa to humans and animals, the virus poses an economifc risk for commercial fruit growers because they must destrog all susceptible treeswithin 1.5 mileds to 2 miles of an identified hot spot. Plum pox destroyes the commercial value of the fruit that it attackx because it discolors anddisfigures peaches, plums, prunes and In New York state countiese lying along Lake Ontario’s south shore, fruif growing is a multi-million-dollar industry.

Ooh la la: France Ave. retail center to get a makeover - Minneapolis / St. Paul Business Journal:

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Leisure Lane at 7101 France Ave., first built in the is gettinga face-lift and a new name — Ru de France. Construction started a few weeks ago and is expecte d to finishin August, said Gregoru Houck, an architect with Minneapolis-based , which is handling the designj and rebranding of the 50,000-square-foot Houck, who declined to disclose the cost of the said the firm decided to play with the France Avenuew name in the redesign, which is changinb the facade and eliminating the centers interio r walkway area to make the center less The European flair in the design will be subtle: no chateau-like featureas or statues of French World War I But there will be fleur-de-lis patterns around the “It was just an idea of talkint about France and linking it to the Houck said.
The center’s tenants — Ethan Pella Windows & Doors, Calico Corners, National Camera Caribou Coffee and Brueggers BagelBaker — will stay the same. Minneapolis-basec is the general contractor. Bloomington-based NorthMaraq handles the leasing and management ofthe property.

2011 Honda CB1000 R: Yoshimura Exhaust - Ultimate MotorCycling | News and Reviews

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Ultimate MotorCycling | News and Reviews

2011 Honda CB1000 R: Yoshimura Exhaust Ultimate MotorCycling | News and Reviews A host of R-55, R-77 and R-77D applications are no available to outfit the 2011 Honda CB1000R, Yoshimura announced Monday. Slip-ons will be available in a number of configurations. The R-55 is one of Yoshimura's most popular pipes, and for good reason. ... and more »

Buffalo Wild Wings CEO made $1.7M in

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million in total compensatioj last year, down from $1.8 million in according to a proxy statementfiled Monday. Smith’sx salary rose to $535,000 in 2008, up from $500,000 a year earlier. However, stock-award compensation granted to Smith declinedto $575,425, down from $849,391 in 2007. Smitbh received $27,895 in options-awards compensation in up from $2,324 in the previous Non-equity compensation pay also increasedfor Smith. In she received $454,212, up from $334,200 in 2007. Non-equityu compensation pay is tied toa company’se performance. Smith received no deferred compensationin 2008. In the priot year, she received $13,023.
Buffalo Wild Wings BWLD) awarded Smith $115,959 in “other compensation” in 2008, up from $111,820 in 2007. Smith’s othef compensation included $19,269 in car-related payments and countr club duesworth $6,463. St. Louis Park-based Buffaloo Wild Wings’ revenue rose 28.1 percentr to $422.4 million in 2008. The restaurant chain’s profitr rose 24.3 percent to $24.4 million, or $1.3y6 per diluted share. The Paul Business Journal’s methodology for calculating compensation uses the total figures found inthe proxy’sd Summary Table, because they represent the accounting charge the impact on earnings — for that fiscal year.
including the Associated Press, use the Grant of Plan-Bases Awards Table to crunch numbere that best represent what the board of directoras had in mind when it granted stock to the executive during the Still others wait until stocok vests and executives exercise options before recognizing these typesof gains.

Most banks profitable despite tough times - Minneapolis / St. Paul Business Journal:

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The most profitable bankws included , with $5.4t5 million in net income, at $5.25 million, and with $3.7y6 million. Overall, the local banking community has been profitablde during thepast year, with at leasrt two-thirds of Twin Cities banks showinv a profit every quarter since this time last year. bank officials are still nervous about theeconomic environment, so much so that several presidentas of profitable banks declined to discuss theire income with the Business Journal .
Larry Albert, president of in Stillwater, Craig CEO of in Wyoming, Thomas Beck, president of in and John Poepl, president and CEO of Vermillionh State Bankin Vermillion, all said they didn’y want to talk about their bank’x quarterly profits. “As an we talk about profitability and being but there are enough areas that are No one’s looking at their profitabilityh with great bravado,” said Stan Dardis, CEO of in St. “Success in the last quarter doesn’t the kind of year they’ll have.
” There’s good reason for Three of the 10 most profitable community banks in the Twin Citiex for the second quarter spent at leasr one quarter in the red over the past year as they wrote off bad loans and shored uptheir loan-loss reservesz in anticipation of more For example, Bremer has been profitable for everhy quarter of the past year except the thirf quarter of 2007, when it took a loss after writing down the valu of a home-equity portfolio and increasingt loan-loss provisions. Conversely, the bank that reported the biggest second-quarted loss, Milwaukee-based , was well into the blaclk in thefirst quarter. M&I is a majore player among TwinCities banks.
The upshoft is that bankers, whose institutionzs are bouncing all over the Federal InsuranceDeposit income-ranking lists from quarter to quarter, can’t rela x and enjoy good quarterly results because they fear theirt turn in the red could be coming. Banks that have diverse loan portfolios are weathering the financialo storm better than ones that focus on one especially if that area isreal estate, said Brad Bakken, chairmahn of the and president and CEO of in St. Louie Park. Agriculture has remained strong, though most metro-area bankzs can’t count on farmers’ deposits to help them througb therough times, Bakken said.
banks invested in manufacturing companies and firms that do businessa overseas are doing well because of theweak dollar. which has banks in western Wisconsin, Greater Minnesota and Northh Dakota as well as the Twin Cities has relied on its agriculture customerss tostay healthy. “We have a significantf ag presence, and ag commodities are hittinghistoricaol highs,” Dardis said. “Those regional economie s and loan types have been the foundatiomn of ourcurrent credit-quality checks.
” Sinced it takes about threw years for losses and write-downs to cycle through balance sheets, lenders that took steps a few yearx ago to tighten underwriting standards are seeing the benefitx now. Dan Klein, CEO of Chaska-based KleinBank, said his bank decidede in 2005 tolimit land-development and constructionj loans to 12 percent of its totak loan portfolio. KleinBank has been profitablwe every quarter for thepast year. “II think we have some pretty seasoned people who do a good job in risk and that was part of said Klein, who added that the bank has increased its problem-loan meetings from quarterly to monthly to deal with the troubledc loans it does have.
“You have to identify the problem, get on top of it and have a plan to workit Bankers’ reluctance to tout profits publicly probablgy has to do both with the conservative nature of the industru and the fear of backlash if they’re perceived as misinforminv investors, said Chris Puto, dean of the Minneapolis-based at the . “Theirf reticence is probably partly protocol and partlythey don’tg want to appear to be said Puto, who is a professor of “They’re trying to stay under the radar It’s one thing to emphasize which some banks are doing in advertising campaignss right now, Puto Minneapolis-based , for example, launchee a series of newspaper ads in Augusty that underscore the bank’s soundness.
However, boastinv profits, while a routine part of businesse insome industries, doesn’t have much payofvf in banking, at least not right now. “I guess they don’tr see that they would gain a great and there aresome risks,” Puto said. “They’rse trying to be conservativ e and be responsible to theinvestment community.” Ten most profitable local banks, second quarter 2008 Chaska; $5.45 million; $1.
55 billion; Profitabled

Study shows San Antonio is nation's best-performing city in recession - San Francisco Business Times:

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The Washington, D.C.-based think tank has begun analyzingg the impact of the recessionthroughout America’s metropolitan In the first of a seriesw of quarterly MetroMonitor reports, Brookings ranked San Antonio, Oklahomaw City, Austin, Houston and Dallas as the top five metrlo areas in the country in economic performancer in the wake of the recession. Brookingw ranked the top 100 metropolitan areas based on six keyindicatord — employment, unemployment rates, wages, gross metropolitamn product, housing prices and foreclosure rates. This initia MetroMonitor report covers the first quarterof 2009.
The five worstr metropolitan areas in the country impacted by the indescending order, are Jacksonville, Fla.; Lakeland, Fla.; Fla.; Bradenton, Fla.; and Detroit. “All metropolitan areas are feeling the effectsa ofthis recession, but the distress is not shared equally,” says Alan research director of the Metropolitan Policy Program at Brookings and co-author of the report. “While some areas of the countrgy have experienced only ashalloqw downturn, and may be emergint from the recession already, people living in metro areaa that are now performinbg weakest economically should prepare themselves for a long recoveryu period.
” Howard Wial, director of the Metropolitan Econom Initiative at Brookings and another co-authodr of the report, argues that the reporr shows that a national fiscal and monetargy policy will not be enoug for stimulating the economy. “Many (metro) areas will need targeteed assistance, and since state have no funds available, the federal government will have to step up to fill the Concentrations of industry activity have both helped and hurts some regional economies duringthe recession.
For metropolitan areas in states with specializations in energy and governmentremployment — such as New Mexico, Oklahoma, Arkansas and Louisianaw — have largely been insulated by the However, metropolitan areas in states like Michigamn and Ohio that dependf heavily on the automotive industry have been impactesd by the downturn in the economy, the report San Antonio is home to Randolph Air Force Base, Fort Sam Lackland Air Force Base and Brookds City-Base.
The 2005 Base Realignment and Closure decision alone is providing a significant economic punch to theAlamo City’s economy through the consolidation of high-paying military health care jobs and more than $2 billiob worth of new construction activity. A separate report releases by LLC outlining the impact of BRAC showef that Fort Sam Houston alone would experiencea 11,500 increase of personnel. The Army post will also gain 7.9 million squaree feet of space. Construction activituy due to BRAC alone shouldcreate 46,000 construction jobs during the course of the buildingy programs, the DiLuzio report showed.

Scripted sales calls old fashioned, fail to connect with customers - Orlando Business Journal:

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Geez, I have been saying this for more than 25 andI can’t believe companies still use them to sell over the OK, forget the companies themselves, let’s blames the manager or the person who is responsible for still tryingh to do something that everu sales trainer on the planet says does not Now, before I go on, do not write or send an e-maipl telling me that I am wrong or being Instead, why don’t you try something new that is, new to you or your organization and just do what I will lay out here. Trustg me, it has worked everh single time withany organization, big or that I have worked with.
This horror of usint scripts came rushing back to me recentlty while working with a company whose stores are in every big city in the The company is highlyh regarded for its ethics and is a very visiblde organization that many are familiar with because ofthe company’ longevity and brand awareness. I was asked to come to the company’ds headquarters and look at its methosd of attracting new business through itstelemarketing program, whichu the company has been usinhg for a couple of years. They said that althoughg the results were OKat first, sales had become prettg dismal. It took me just 30 seconds to read the scriptt that the inside salespeople were and Iwas sickened.
I talked with the company president and said I could help the salespeoplee in justtwo hours, but I needed him to let me do my job and not to interfered unless I called him in for his opinion. He but I could sense he was a bit apprehensive about the situatiob andmy request. I worked only with the who was really a selling managed because she was on the phoneas herself at times trying to pitch inand help. We went into a and I spent an hour going over whyscripts don’f work and why she has been brainwashed to do something that was againstr all the rules of professionak salesmanship.
She was neither thrilleds with me at this point nor happy after I tookher eight-pagd script, ripped it up and thresw it in the wastebasket. We role-played a little using real situationx that she might have withher husband, children and for instance. The goal was to show her that havingfa two-sided conversation is much more usefuo than a one-sided script. She was really starting to get it, even though she kept wanting to go back to a selling mode by doin more talking than listening andaskingg questions. It was so simplee that it was frightening to her that a selling situatiohn can be flexible and not just acannedc speech, where she can actually have fun whil e conversing with a customer.
The introduction and questionas I wrote out were basic and easy for her to They were: “Hi, my name is Susan from Clienrt Co., and I would like to ask you two or thre e quick questions. It will not take more than 48 second – I promise. “Are you familiar with our company? If yes, what aspects “Why are you not a member, or why did you leav our organization?”

Grim budget outlook projecting big cuts to state's business programs - Business First of Columbus:

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While funding cuts for schools, increases in collegee tuition and closings of statr prisons have drawnthe lion’s share of attentiohn to the governor’s recent budget analysis, he also predicts reduction in everything from financial incentiveas for expanding businesses to inspections of food processing plants and coal mines. But the budgetingg scenario is only an exercise in illustratinh the potential effect on state spending if the federalkgovernment doesn’t come through with a bailout packagre for the states, said Keith Dailey, Strickland’sw spokesman.
It should not be viewed as a road map for spendinvg priorities inthe two-year budget plan the governor will introduce to the General Assembly in he said. “It’s an analysis,” Dailey said, “and not a set of decisionsw that havebeen made.” Strickland has askedd that Ohio receive $5 billion in federalp aid to help state government cut into an estimated $7.3 billiob deficit projected for fiscal 2010 and 2011. Sinced January, he has ordered $1.3 billion in spending cuts to averyt a deficit for the year ending nextJune 30. His budgert director, Pari Sabety, recently projected an additional a shortfallof $640 milliomn for the balance of fiscal 2009.
The governodr has blamed the state’s financial woes on lower-than-expected tax revenue due to a contractingOhio economy. Askedf by those with a stake in state fundinhg for examples of what may have to be cut to balancre thenext budget, Strickland requestes state agencies to identify what a 25 percenrt reduction to their budgets would look In the case of the , such an across-the-boarf cut would slice into programe dear to economic developmentt specialists and technology-sector advocates. For example, the department’s analysiss said a 25 percent cut wouldlop $2.
5 milliob from the state’s Rapid Outreach Grant program that providezs money to companies looking to expanxd or move to Ohio. That would reducee direct support to at least10 businesses, the analysi s said. In addition, $3.2 million woulds be cut from the Ohio Workforce Guarantee programj that helps businesses cover the cost of traininf existing andnew employees. An estimated 3,209 workers at 63 companies would be Dublin has used the programs to help land businesses and woulfd be hurt by thos e kindsof cuts, said Dana the city’s economic developmeny director. At the same time, he doesn’gt envy the job Strickland facew in balancing thestate budget.
“Wew all will have to be more innovativd and do what we have to do to be more competitive (with other states),” McDaniel said. On the technolog front, the Development Department estimated $4.2 millionh would have to be cut fromthe state’s Thomad Edison program, forcing the shutdown of threw or four Edison innovation centerse or business incubators. That woulde cost at least 750 jobs a theanalysis said. An additional 300 jobs would be in jeopard if 25 percent were cut fromthe department’s Third Frontier Action Fund, which supports research commercialization activities by Ohio companieds and universities.
Such cuts are a concern for Centrap Ohio’s technology community, said Ted Ford, CEO of TechColumbus, the technolog y organization that operates an Ediso n business incubatoron ’zs west campus. It serves 26 startup companies there and 18 to 20 otherxoff campus. But Ford said he’s “reasonably that organizations focused on job growth will do fairly well in upcoming stat ebudget negotiations. “What we’re hearing,” he said, “is new-business formation and support is a priority now more than The state had made clear that entrepreneurship is clearlyu part of what will be supportedcgoing forward.
” • Less money for regulation of Ohio’ coal, oil and gas industries by the . The result woulds be longer waits for operating permits and fewerenvironmental controls. • Layoffs by the of 36 meat plan inspectors and eight foodsafety • Layoffs of faculty and staff at state-supported collegez and universities. To avert such tuition and fees would have to increase byabou $2,000 per student a year. • Eliminatiohn of more than 5,200 positions by the , resulting in closing s of six state prisons and twojuvenile facilities. About $187 million in cuts to jointt vocationalschool districts.
• A cut of nearly $12 million a year for agricultural research programsand $8 milliobn for Ohio’s cooperative extension servicr for local communities.

Sutter Health

Beverage Refrigerators
The latest accusation comes from the CaliforniaNursesa Association, which said that Sutterr is shifting resources from low-incomer areas to wealthier ones, pursuin g a business model that attracts “fewer but more affluenrt patients to upscale health destinations.” The chargr is likely to complicats efforts by Sutter, which has long had a fraughgt relationship with the CNA and other unions, from gaining San Francisco’z approval for ’s proposed $1.
7 billion facility on Cathedral Tom Ammiano, the Democrat representing San Francisco’s 13th Assembly District, noted that the San Francisco Board of Supervisorz (on which Ammiano served) censured Sutter for allegedx redlining in May 2008. “It concerns me to hear of Sutter engaging in similar business practices elsewhere inthe region,” Ammiano said June 8, accusing it of “closing down facilitiess that serve low-income people, for the purpose of increasing profit.” He said Sutter opponents have considerable especially in San Francisco, where the hospital plan is subject to revieqw by the Board of Supervisors, and predicted it could face significangt opposition.
Sutter angrily denied the Senior spokesman Bill Gleesonsaid “a look at the list of communitiees where Sutter Health has a presence” — including San Francisco’s Soutuh of Market/Mission District area, Oakland, Crescent City, Lakeport and Los Banosa — shows it serves diverse populations. And its charity care investmenr ofroughly $2 million per week last year “ias illustrative of the demographics of the communitiew we serve.” California Pacific Medical Center’xs Cynthia Chiarappa also blasted as “noyt true” CNA’s charge that CPMC is engaging in medical redlinin g by planning to downsize its St.
Luke’es Hospital in the Mission districg and builda 555-bed new hospitalo at Geary Boulevard and Van Ness Avenue. California Pacific’s plans involve a well-reasoneds strategy to shift much care to outpatiengt settings while sending the sickest patients to aspecialty hospital, Chiarappw said. Opponents say it’s unrealistic to expect Missiom districtresidents “to schlel to Cathedral Hill,” in Ammiano’w words, a yet-to-be-built hospital foreign to theie cultural landscape. The redlining charges came to the fore at a May 19 meeting of the San FranciscoHealtnh Commission, which governs the city’s Departmenf of Public Health.
The consultancy, hires by DPH to review California Pacific’s institutionap master plan, outlined CPMC’s plans to consolidate most of its acutr care in the city at the new Cathedral Hill and to rebuild a smaller versionof St. Luke’s. Abouf 150 community members and advocates attendesd theacrimonious session, which one insider called “a shot across the indicating that many community groups in San Francisco aren’t satisfiee that CPMC and Sutter “arde doing their part to continure with nonprofit status” and are likely to try to providew a stumbling block to the Cathedrak Hill new hospital.
Sutter has been making plans to avoixd operating hospitalsin low-income areas for at leasty nine or 10 years, said Jim Ryder, CNA’s Northern California collective bargaining director. Now, says CNA, thosew plans are coming to fruition, including movesa or alleged efforts to downsize or ultimatelyyeliminate St. Luke’s; downsizer and ultimately tear down and sell the Herrici campusin Berkeley, part of the three-campu s ; transfer to Alameda County; relocatre and rebuild a downsized version of Sutter Santa where it treats many low-income residents undeer a complicated agreement with Sonoma County; builcd a new $550 million hospitalk and medical campus in upscalse San Carlos, and fund huge new or rebuilft hospitals in downtown San Oakland and Castro Valley that the uniohn claims will primarily cater to upscale patients.
Wanda president of San Francisco’s , said critics like CNA “conveniently that bond issues by nonprofig systemslike Sutter, or must gain the support of who require in-depth data on the location, local demographicd and percentage of insured residents in the vicinity before agreeing to sign off on new hospitalp bonds. There’s “a term sheet, it’se due diligence … and it’s the bond lenderas who determine who getsthe money.
”

Rajeev Motwani, noted Stanford professor and Google founders' adviser, dead at 45 - Tampa Bay Business Journal:

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The professor was found dead in hisswimming pool, an apparent drowning victim, the morning after a party to celebratee the end of the school year with studentas and colleagues. Motwani founded the Mining Data at Stanforxproject (MIDAS), which helpedd develop innovative data management concepts. He is best knowm for advising Google founders Sergey Brin and Larry Page whild they were studying at Stanford and later as they founded the Mountaihn Viewsearch giant. Brin wrote a tribute to his mentoe "Of all the faculty at it is with Rajeev that I have stayecd the closest and I will miss him Yet his legacy and personality livess on inthe students, and companies he has touched.
whenever you use a piece of there is a good chancee a little bit of Rajeev Motwani isbehind it" Dave Hornik of in Menlo where Motwani regularly attended Monday partners meetings, : "For those of you who didn't know Rajeev, you might get the impression that he was your typica l Silicon Valley insider -- loud, brash, full of bravado. He was anything but. Rajeev was soft spokenm and gentle. He was self-confident but didn't feel the need to prover anything. He didn't speaik to hear his own voice. And he didn't need to be the centet of attention. Rajeev just wanted to be And he was.
To so many of Silicon Valley Angel investor Ron Conway said in a videlthat "The entrepreneurs in Silicon Valley that he has influenced and helper and mentored is in the hundreds. He shared my attitud that the more entrepreneurs you can even if you only give themfive minutes, go do it. He nevef refused a meeting with an entrepreneur that I suggestedd he meet just to give them some quick advice." A native of New Delhi, Motwanji got his bachelor’s degree in computere science from IIT Kanpur in 1983 and his doctorate from UC Berkeleyu in 1988.

U.S. job picture mostly dark - Dallas Business Journal:

ethelbertdiya3334.blogspot.com
According to ADP, U.S. companies cut an estimatexd 532,000 workers from their payrollxslast month. The report notes lossed across all sizes and categories of with large-company payrolls declining 100,000. Midsizef businesses shed 223,000 while small businesses cut 209,000 The goods-producing sector lost 267,000 while the service-producing sector declinedr by 265,000 positions. The repor t also revised upward its estimate of job cuts in Aprilto 545,000 from 491,000. Meanwhile, Challenger Gray Christmas says employersannounced 111,182 planned job cuts last month 16 percent fewer than the 132,590 announced in But the May number was 7.
4 percent higher than the 103,52 job cuts announced for the same montyh a year ago. Accordingt to the Challenger report, employers have announcedf 822,282 job cuts so far this That’s more than doubl e the 394,193 announced last year througbh May. While job cuts remained well aboveslast year’s pace, May marked the fourth consecutivwe month with a decline in job-cut announcements. Since reachingt a peak of 241,748 in January, job reductions have declined an averag eof 17.5 percent per month. Chief Executive John Challenger remains cautiou about thejob market’s prospects. “This declinde in job cuts could be he says.
“The second quarter is typicall the lowest quarter of the year when it comees tojob cuts. Corporate downsizing may continuee to remain slow during thesummerr months, but if the past is any we could see the pace acceleratw again in the latter half of the thir d quarter through the end of the On Monday, The Institute for Supply Management said its factorgy index rose to the highest leveo since last September as new orders posted their firs gain since the recession began in Decembet 2007. On Tuesday, the National Association of Realtors reportec that pending sales ofexistingy homes, or contracts signed but not yet rose 6.7 percent in April from March.
April’s pending sales were up 3.2 percenrt from a year earlier. ADP (NASDAQ:ADP) markets technologhy outsourcing services. The company is based in New Challenger, Gray & Christmass is an outsourcing consulting company basedin

Pet food sales drive Feeders Supply Co.'s growth - Business First of Louisville:

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Revenue has increased by about 15 percenyt in each of the last10 years, accordingg to Feeders Supply founder and chiev financial officer Roy Gibson. He declined to reveal salesx figures. A new ownership structure was createdxin 1996, when Gibson sold the businesd to his daughters, Pam Longwell and Diande Ives, for an undisclosed Today, Longwell serves as president and operationak manager, and Ives works in the bookkeepinhg department. Feeders Supply has continued in its longtime role as the supplierf of feed and bedding for the Louisville Zoological Garden and events at the Kentucky Fair and Exposition And the company recently purchased the Louisville Motor Exchange Inc.
building from ownert Don Kleierfor $500,000. It is a neighbord to Feeders Supply's original location and the company'w overcrowded business offices at 315Baxtet Ave. The 10,000-square-foot facility will be renovated afterd the first of the year and convertedf into new offices forthe 10-persoh Feeders Supply management Gibson, a native of Taylorsville, Ky., startesd Feeders Supply in 1959 with the financial support of partner Carl Fischer, the original owner of Fischert Packing Co. Gibson bought out Fischer in 1979. In the Gibson had only one employee and struggled toget by.
"The first 15 it was tougher than nails," he "The next 15 years were The last 10 years have been Gibson attributes the gains of the past 10 yearsd to a decision that was made more than a decadre ago to move the business into pet food In itsearly days, Feeders Supply made its monehy through the sale of feeds and supplies for the livestoc k industry and for horses. As that industryu slowed, the company was forced to look to alternats sourcesof income. "We were just in a single-source which was declining," Gibson "We had to change. The markeyt was gone.
" "There are a lot more peoplw who have dogs and cats than theree are whohave cows," Longwellk added. Today, Feeders Supply stocks food for not only cats and but a number ofsmaller animals, includinbg birds, hamsters, rabbits and guinea pigs. The companhy also sells pet accessories, toys and supplies. Selecterd stores in recent years have startedd carrying somelive animals, such as fish, reptiles and Feed for horses stil l is available, Gibson said. "But that' not our primary emphasis.
" The succeszs that Feeders Supply has experienced in the pet food and suppliee market might be one reason that more nationakpet "superstores" have not located in the Gibson said. Still, he believes that the day will come when chaih stores will have a greaterlocal presence. "That'sz basically one of the reasonsthat we're constantly looking out -- not only from an but also from a defensive position," he "We're constantly looking at places to put our stores." Feederzs Supply's plans for long-range expansion focues only on Jefferson and surroundingt counties.
The company has no desire to extend its reacyhto Lexington, Nashville or Indianapolis, Longwell "We think we'd like to keep it keep it in the community," she said. "We plan to stay here and serve the people inLouisvills well, instead of diversifying and spreading out into other

NY awarded $253M through housing tax credit program - Business Courier of Cincinnati:

vezasid.wordpress.com
is one of the companies that will benefi t from an infusion of federa l stimulus money into a tax credit program that subsidizez construction ofaffordable housing. U.S. Housing and Urbanh Development Secretary Shaun Donovanh announced todaythat $252.7 million has been awarded to New York through the federalp government’s new $2.25 billiob Tax Credit Assistance Program. The money will enablre the state to resume funding the constructioj or renovation of affordable rentalhousing units. Omni Housingt is among the companies that rely on the sale of low incom e housing tax credits to investors to help payconstructiojn costs.
The demand for tax credits in the state and nationwid has eroded because of thecredit crisis. Before the credit freeze hit, banks and other lenders such as and used the creditsw to reduce their federaltax Now, with bank profits much slimmer, therew is less need for the tax credits. “Thse market is in disarray,” said Duncan Barrett, chief operatinfg officer at Omni Housing, a division of Inc. Constructionm and renovation projects have been jeopardize as the value of the taxcreditds plummeted. As many as 1,000 projects containinhg nearly 15,000 housing units are on hold across the accordingto HUD.
For instance, Omni Housinv has received two written offers to purchase tax credits foran $11 milliom renovation of 100 garden-stylde public housing apartments in Watervliet. The offers are 70 centsz or 72 cents forevery $1 of tax credit. The low pricw would create a gap in making the project Omni isseeking $2.4 millioj through the Tax Credit Assistance Program to fill the gap, Barrettt said. “What the TCAP funds are doingt is plugging the hole that has been created by the lack of tax credif investors and the falling pricese forthose investors,” Barrett HUD estimates the new program will provide affordable housingf to 35,000 households nationwide.
Omni has redevelopef 1,170 affordable housing units in the Albanhy region over the past10 years, mostly for municipalo housing authorities. Omni manages some of thosse units and provides property management suppor tto others.