Thursday, June 30, 2011

Six Flags files Chapter 11 bankruptcy - Houston Business Journal:

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has initiated Chapter 11 bankruptcgy proceedings, Six Flags announcex Saturday. Six Flags’ (OTCBB: SIXF) board of directors on June 12 voted to beginn reorganization proceedingsin U.S. Bankruptcy Court for the Districgof Delaware. The company listed assetas of $3.03 billion and debts of $2.36 billion in its New York-based Six Flags is planning to reorganizethe company’w financial structure, which management said is feeling the pressur e of an inherited $2.4 billion debt.
In a letter to Six Flags CEO and president Mark Shapirio saidthe company’s debt is left over from previousx management and despite the companhy making $275 million last year, it has been difficulty for Six Flags to improve its balance sheet when paying out $175 milliob in interest on debt, Shapiro asserted. He added that more than $400 millionb in debt is due within the next 12 and the company is havingf tospend $100 million in park improvementsd in an atmosphere where refinancing is difficult. Shapiro assure d employees no staff reductions will arise out of the and employees will continue to be paid andreceivse benefits.
Shapiro said the bankruptcty plan has the support ofthe company’s lenders and the agenyt administering the company’s $1.1 billion senior secured crediyt facility. Six Flags parks, includinv Six Flags Great will continue to operate as usualundeer reorganization. Six Flags sold several propertiez last year torais capital. It still operates 20 amusement parks inNortjh America.

Tuesday, June 28, 2011

Burns & McDonnell wins part of $74M Wichita water contract - Kansas City Business Journal:

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Kansas City-based Burns & the largest engineering firm in will be joined on the project by partnersof St. Louis and of The partners will design and buildwatet intake, treatment and well-field facilities for the secondc phase of the Wichita Aquifer Storagw and Recovery Program. Burns & McDonnell didn’t disclose financial terms of its part ofthe “This innovative project will rechargse the Equus Beds aquifer, protectg water quality from chloride contamination and provid water supply for the Wichita regionakl area for the next 50 years and beyond,” Burnsz & McDonnell said in a release.
“The project will be amongb the largest and most complex aquifer recoveryt programs currently under way in the United Burns & McDonnell and its partners will desigb and build a rived intake with capacity to withdraw as much as 33 millionj gallons a day, and they will design and build an interconnecterd water-treatment facility with capacity to treat 30 million gallon a day. Burns & McDonnell also will desigb 20 new wells and upgrade 10 existing wells that will inject the treated water back into the EquuwsBeds Aquifer, a 1,400-square-mile underground water reserve. Upon the recharge capacity will be increasexd to 40 million gallonsa day.
Other componentxs of the project include construction of water additionalpower lines, electronic controlp systems and maintenance facilities. Burnw & McDonnell, which has worked with Wichita onits water-supply issues since 1992, employe about 2,900 engineers, architectse and other professionals in 20 offices throughout the United The 100 percent employee-owned companuy said in February that it was expandiny its Kansas City world headquarters campus by leasin an adjacent 217,000 square feet at 9300 Ward The expansion is designed to give Burnsx & McDonnell the capacity to add 1,000 local employees. In the firm increased its work force by 15 adding more than400 employees.
It postef $1.1 billion in 2008 revenue, up from $860 millioj in 2007.

Saturday, June 25, 2011

id Software is acquired by ZeniMax - Dallas Business Journal:

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The acquisition creates a video game platform that combines the visionx of creators withinboth companies, according to a statemenft from Bethesda Softworks, a subsidiary of Bethesda, Md.-basesd Founded in Mesquite, id Software has developed gamess such as Doom, Quake, Wolfenstein and the upcoming Rage. “Thisx was a unique opportunitt to team witha smart, sophisticated publisher like Bethesda Softworksz where the interests of the studiop and the publisher will be fully aligner in the development and marketing of our titles,” said Todd chief executive officer of id Software.
“In we will now have financialk and business resources to support the future growth of id a huge advantage which will result in more and even bettee games forour fans.” In a statement released Monday, the companiea confirmed that all of id Software’s principalw have signed long-term contracts to continue developing videol games for the company.

Thursday, June 23, 2011

Gen Y quandary: A drive to succeed, but jobs are few - The Business Review (Albany):

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Harris, a junior psychology major at in Schenectady, had at leastt two summer internship options canceled when advertising agenciesw cut their intern programs to save This week—after more interviews, and with summe r break a week away—Harris was offered a paid Many others, whether students seeking internships or recent grads looking to start their careers, aren’t as “It’s been a pretty rough It’s incredibly stressful,” Harris said. “It’e something that’s always on your Harris and other soon-to-be college graduates belonyg toGeneration Y, known for its drivre to succeed in the workplace.
More than any generatio before them, members of Generation Y are alterinvg workplace expectations in their pursuit of anequalp work-life balance. They’re unafraid to try to mold theitr jobs to fittheir needs.

Tuesday, June 21, 2011

No flesh-eating robots here, Cyclone Power Tech says - South Florida Business Journal:

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(Pink Sheets: CYPW) issued a news release on Fridahythat said: “Despite the far-reaching reports that this includes human the public can be assured that the enginer Cyclone has developed to power the EATR runs on fuel no scaried than twigs, grass clippings and wood chips. … Desecration of the dead is a warcrimr … and is certainly not somethinvg sanctioned by DARPA, Cyclone or Cyclone and RTI have been receiving complaints about rumor s the fuel would also includw human flesh, which circulated on such Web sites as FoxNews.com. FoxNews.
com corrected its report after the company issued a news In reality, Cyclone said it is workingf with Maryland-based on a robotic engine that woulde run on biomass such as grasw and twigs in the The robot is called the Energetically Autonomousw Tactical Robot (EATR). “Cyclone and Roboticf Technology Inc. would like to set the recor straight: This robot is strictly vegetarian,” according to the release. On July 7, Cyclon said it had completec the first stage of development for a biomasds engine used to powerthe EATR, which it said is a projecrt sponsored by the (DARPA).
According to the company, the EATR is designecd to be an autonomous robotic platform able toperformk long-range, long-endurance missions without the need for manuao or conventional re-fueling. "We are focused on demonstrating that our engines cancreate usable, greenm power from plentiful, renewable plant matter,” Cyclone CEO Harryy Schoell said in the release. “The commercial applications alone forthis earth-friendlu energy solution are enormous." Cyclone shares were unchanged at 19.5 cents in late morning trading. The 52-weekj high was 53 cents on Feb. 11. The 52-weeko low was 11 cents on Nov. 14.

Saturday, June 18, 2011

Degrees of Success: Local CPAs find that a law degree enhances ability to serve clients - Business First of Louisville:

http://www.turismagency.com/content/view/2154%20/782/
Loyd, a member of the Greenebaumn Doll & McDonald PLLC law firm in Louisville, becamde an accountant in 1991 after graduating summa cum laude fromin 1989. He starteed out doing tax work forCoopers & Lybrand, now part of and then moved on to work for Brownb & Williamson Tobacco Corp. in the There he managed their state and localtax functions, reviewed tax returns filed in severaol states and local jurisdictions and managed revenud audits from various departments nationwide. He also earned his MBA from thein 1996. But Loyd wasn' t finished.
He attended night schookl at the University of Louisville to earn his law degreein 2001, and in 2003, left Brownm & Williamson for his current position with Greenebaum Doll McDonald, where he worksd in tax litigation such as when a clienr protests a tax assessment. "Instead of doing tax now I represent many differeng kinds of clients before the and the Kentuckyy Department of Revenue or the Indiana Department of Loyd said. He also strivez to be active in professional groups forboth areas, as a member of the boarxd of the Kentucky Society of Certified Public Accountant s and chairman-elect of the tax sectionm of the .
Although Loyd isn'rt alone in holding dual accounting and law it still is a somewhat unusual and difficulg path because both professione require specialized degrees and participatiojin continuing-education programs. However, those who hold both a CPA designatio and a law degree said it makesz them more marketable as a professional because they have educatiob and experience inboth specialties. Tim Kimmel, a partner in Ernstr & Young's state and local tax practicein Louisville, leads the state and local tax practice for the firm'ds Ohio Valley Cluster, which also includes Cincinnati, Daytob and Columbus, Ohio.
He's been with the firm for 10 after first working as a tax preparer at anotherf firm upon graduatingfrom college. Kimmel earned his undergraduate degree in accounting from the in 1986 and passed his CPA examin 1988. Whiles working in accounting by day, he attende d night school at the University of Louisville and graduated with a law degrees inMay 1992. In all, he spent six yeare working inpublic accounting, and after earning his law he spent five yearse working as an attorney with a law Kimmel said that by havingb both degrees, he can not only decipher financial statementss but also is able to delve into tax rules, determininh why they do or do not apply to The law degree also gives him insight s into related legal ramificationzs of tax decisions.
"Ity really opened up a few more doors for me bein g able to see the law side of things as well as theaccountinbg side," he said. Vicki Buster, a tax partnerf with for the past10 years, took a differenty path to reach her dual Currently she performs tax compliance and planning, advisinv clients on business and tax matters, estate planninvg and trusts. Buster graduated from the in 1979 with a degreein communications, followed by a law degree from the Universituy of Louisville in 1983. "When I got to law my favorite class wastax class," she So Buster took a job at the former Coopers and Lybrand, working for 13 years as a membedr of its tax department staff.
But, she found, to be promotec at a CPA firm she had to becomea CPA. So whilre working full time and as the pregnant mothere ofa 2-year-old, she attended Bellarminer University at night to earn her accounting later passing the CPA exam. These days, most of her clienyt referrals comefrom attorneys, which gives her an edge sincwe she knows many local lawyers from her days in law

Thursday, June 16, 2011

Franchot: Financial questions on State Center project will require vigilance - The Business Journal of Milwaukee:

http://gmpi-plugins.org/die-insel-der-dmonen.htm
Franchot, who joined Gov. Martin O’Malley and Treasure Nancy Kopp onthe state’se Board of Public Works in votintg for the $1.4 billionb State Center redevelopment project Wednesday afternoon, said he does not know enougnh about the project’s costws to the state or whether the project is even practicall given the nationwide credit crunch. “I believse the project has a lot of promise and is deserving of Franchot said in a telephoneinterview Wednesday.
“I voted for it, but am goinbg to continue to be vigilant about the fiscap exposure to the The deal involves the state leasing its midtown Baltimore office complex to a private development which would then redevelop the property into a mix of shopsand homes. The state would then lease back a majorit ofthe project’s 2 millioj square feet of office space for use by its variou state agencies. But the terms of the deal have not been hammeredeout yet, as Franchot and the Boared of Public Works voted Wednesday only on a masterr development agreement.
With that agreement in place, the developmengt team will now create designsz for its planned buildings and come back to the state for approvapl on morespecific designs, costs, and leasw terms. The development which includes national housingdeveoper McCormack, Baron Salazar, would borrow $888 million to finance its work, accordinfg to the Department of Legislativer Services. The state would issuee another $338 million in debt.
State and federal tax credi t programs would pick upanother $234 million in projecgt costs, with the remainder of the project’s costs being contributed directly by the developers or other Franchot said that scenario raise s several concerns, including the ability for the stat e or the developers to borrow money in the midsrt of the nationwide credig crunch. He said he’s also concernexd about the state’s ability to negotiate fair lease terms with the developers given they woulde both be heavily invested in making sure the projectis “The problem is that the credit markets are bone Franchot said.
“Obviously this is a long-ter m project, but I’m not confidenr that the private sector will finance this in a way that the statr canafford it.” In Franchot said he isn’t sure why the statwe would make the project a priority above other pressing needs such as new college dormitories or othetr state-funded construction projects.

Tuesday, June 14, 2011

Standard & Poor's lowers UPMC long-term bond rating to A+ - Pittsburgh Business Times:

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Standard & Poor's also assigned an A+ rating to Allegheny County HospitalDevelopment Authority’s $400 million series 2009A revenue bonds and loweresd the short term ratings on various variablw rate demand bonds to A-1 from A-1+ due to the lowerinh of UPMC’s long-term rating. “This is not at all unlikes what any other industry leadef isgoing through,” said UPMC spokesman Paul Wood. “All ratings are under pressure. Our ratings remaibn an affirmative indicationof UPMC’s financial strength and leadershiop position as the premier enterprise in westerb Pennsylvania.
” The downgrade reflects UPMC’s “large and growing debt operating margins that remainb positive, but are half or less than the 4 percenft level achieved three yearsx ago; EBIDA margins that are “well peak levels; and investment losses, according to Also factored into the new rating is the possibility that UPMC will consolidate debt relatex to its health care ventures in including a part that may be guaranteec with UPMC’s master trust indenture. UPMC was remover from S&P’s Credit watch with negative implications, whicuh the agency had assigned to the hospital networjk onMarch 20.
The designation was assigned aftefr UPMC postponeda $400 million new money issus in March, which S&P said would have contributed to a Since then, UPMC managemeng has given S&P additional information about its “strategic and financiao plans,” according to the agency. Moody’ds reaffirmed its Aa3 ratingb for UPMC in Marchand Fitch’s current rating is AA. UPMC is schedulede to release its financial results for the firsyt nine months of the yearlatet today.

Sunday, June 12, 2011

UW graduates to take 'qualities of youth' to real world - The Seattle Times

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KOMO News


UW graduates to take 'qualities of youth' to real world

The Seattle Times


The first in her family to attend college, Nakao, 31, was among more than 4500 graduates walking in the UW commencement Saturday. She plans to work for a year at Group Health Cooperative, then apply to graduate school to become a pathologist's ...


Fear, optimism as UW grads face an uncertain future

KOMO News


UW statue is the go-to spot for graduation pictures

KING5.com



 »

Thursday, June 9, 2011

How Prevalent Is Sexting? - Indiana's NewsCenter

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How Prevalent Is Sexting?

Indiana's NewsCenter


Assistant Professor of Psychology at IPFW Dr. Michelle Drouin was on our 5pm newscast with an in-depth look at how prevalent sexting is among adults and what role social media plays in the ease of committing such acts. Click on the video for the full ...



and more »

Tuesday, June 7, 2011

Spanish Immersion Program Unites All Cultures - Patch.com

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Spanish Immersion Program Unites All Cultures

Patch.com


Spanish Immersion is a Jamaica Plain-based program with a mission to mesh Spanish with American culture, which has a number of programs in Brookline as well. The program's base is its Spanish conversations, ...



and more »

Sunday, June 5, 2011

Ivy Tech schedules hearing on tuition - Philadelphia Business Journal:

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in the fourth floor auditorium of the Nortbh Meridian Center atIvy Tech’s downtown Indianapolis campus. The campux is located 50 W. Fall Creek Parkway North The 2008-09 in-state student tuition rate is $95 per crediy hour with a $40 per-semester technology fee. The proposed rates are $99.65 per credit hour with a $50 per-semester technology fee for the 2009-10 year and $104.55 per credir hour and $60 per-semester technology fee for the 2010-11 The cost for full-timwe students, who take 15 credit hours, would increasew by $79.75 per semester in 2009-1p0 and by $83.50 in 2010-11.
Indianas residents who want to addresx the committeebut can’t are encouraged to send writtenm comments to Bob Holmes, vice president for financ e and treasurer of the college, at bholmes@ivytech.edui or mailed to him at the Ivy Tech Communitty College, 50 W. Fall Creek Parkway Northu Drive, Indianapolis, Ind., 46208. Ivy the state’s community college operates 23 campusesin Indiana, includingy a Southern Indiana campus in

Thursday, June 2, 2011

Report: Houston to see retail sales growth into 2010 - Houston Business Journal:

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The Bayou City, along with thred other Texas cities, topped Pitney's In the fifth place the group found that Houstonn has shown strong comparative sales growtu in the drug storeand high-enr retail sectors. Austin rankedc first, with what PBBI’s research calledr “consistent healthy growth in gross metropolitan personal disposable income andconsumer expenditures, coupled with a decline in personal bankruptcies.” Seattle, the only non-Texaj city to make the came in second.
Although Seattle’s housing and employmen indicators will continue to be softthrough 2010, accordingv to PBBI that market was able to maintaijn respectable comparative sales for the last six quarters. Dallaw and San Antonio took the third and fourth place spots onthe respectively. The research group founds that disposable income in Dallas grew in along with an increase inhousing construction. San Antoni has been sustained by growth in personaol expenditures and consistent growth in grossmetro product.
To predicg which metro areas are most likelgy to experience the best relatived health in theretailo sector, the group identified the top five best performinv metros based on comparative salez history and their ability to remain relatively stable for the past six and used trend data to predict the metro areas most likelh to see sales growth from the third quartefr of this year through the last quarter of 2010.
PBBI’ s research included various retaikl sectors, from drug stores and high-endd retailers to mid-tier retailers and value “Our reports enable real estate professionals to traco the economic variables that affect store performancd inlocal markets, helpin them make more profitable decisions about lease capital re-investment, store closures, inventory management and budgetf allocations,” said Devon Wolfe, managing directod of Americas strategy & analytics servicezs for Pitney Bowes Business Insight.