ABC Online | New light shed on human ancestors Stuff.co.nz A new study of 50000-year-old campsites in Papua New Guinea could change the history of "modern" humans, an Otago University anthropologist says. ... Early Humans Lived in PNG Highlands 50000 Years Ago Ancient New Guinea settlers headed for the hills Early humans in PNG highlands 50000 years ago |
Thursday, September 30, 2010
New light shed on human ancestors - Stuff.co.nz
http://benpaddon.com/contact-me/
Wednesday, September 29, 2010
Recession was all pervasive--Census - The Money Times
http://benchmarkrsi.com/testimonial.html
The Money Times | Recession was all pervasive--Census The Money Times Yes, it did have an adverse impact on employment. Scores of people were handed the pink slip while many ... |
Monday, September 27, 2010
Heineken honoured for its contribution to alleviating poverty - Patriotic Vanguard
http://spiritofamerica95.org/links.htm
Heineken honoured for its contribution to alleviating poverty Patriotic Vanguard It has raised smallholder farmers‟ incomes derived from sorghum, which has directly contributed to the alleviation of poverty for this critical group of ... |
Sunday, September 26, 2010
Renovations planned for Johnson County courthouse - Chicago Tribune
http://www.steven-rigolot.com/article/iQsim-awarded-Prix-de-linnovation-TIC-PACA-2009.html
Renovations planned for Johnson County courthouse Chicago Tribune AP The $500000 renovation project will include tuckpointing work on the 105-year-old courthouse, which has deteriorated after years of wear and tear. ... |
Friday, September 24, 2010
Delinquent community bank loans reach $150.6 million locally - Orlando Business Journal:
http://immobilier-en-yvelines.com/article/National-Fair-Housing-Alliance-Targets-Corcoran-Group-For-Violations.html
The dollar amount of their delinquenty loans and leases skyrocketef more than 195 percent as Florida continued to struggle withthe housing-induced recession. Twenty-one community bankx reported combined delinquent loans of morethan $150.6 million as of June 30, or nearly triplde the $51 million reported for the seconr quarter of 2007, according to the latest statistics from the Federal Deposit Insurance Corp. Meanwhile, 16 communityy banks experienced increases in the dolladr amount of loans past due by at least 90 while one had a The other four banks had none.
Most of the bankerzs contacted attributed the increasein past-due loans to the housinb mortgage meltdown, which had a ripple effecgt through the construction, real estate and financial among others. “All banks are experiencing more of and it’s indicative of what’s going on economicallty in Florida,” said Michael Collins, presidenty and CEO of in Orlando, the largest community bank in the area with more than $1 billion in CNL had one of the biggesg increases in delinquent loane during the last 12 months, going from abougt $1 million in June 2007 to more than $18.2 millio in June 2008. However, Collins noted delinquent loans accouny foronly 1.
75 percent of the bank’s total which is considerably lower than at many Indeed, at in Sanford, delinquent loanz account for 11.14 percent of its total loan portfolio. As of June 30, the bank had $56.7y million worth of loans in arrears, up from aboutf $31.2 million in June 2007. Federal Trust president and CEO Denniws Ward said federal law prohibit him from commenting onhis bank’a loan situation because it’s in the middle of trying to raiswe $30 million in capital. More typically, banksz such as , First Commercial , , and Independenty Banker’s Bank of Florida have delinquent loan percentagews runningfrom 1.5 percent to more than 4 percent.
Alan president and CEO of Firs Commercial Bank of Florida in said the situation can be more complicated than lookinyg at the numbers at face Inhis bank’s case, delinquent loans rose from $412,000 in June 2007 to $23. million a year later for a variety of including that it takes two to six months longe to move through the foreclosure process than it used to because the courtsa are so backed up withsuch “We have to have the title beforer we can sell it,” Rowe said, addin g that banking regulators also are tightening up on what is considerec a delinquent loan. Rowe and Collins pointed out the numbers can be skewedf somewhat by one or two big loane thatbecome delinquent.
Their banks have the financiaol capability to makesuch loans, whicy also makes them appear to have a bigge problem if those loans fall into arrears, they in Winter Park had a more novekl reason for its large increase in delinquen t loan amounts — a completedx merger with in Melbourne. The merger with Bank Brevarrd alsobrought $14.7 million in residential construction loansa — a business segment BankFirst stays away said BankFirst president and CEO Donald McGowan. That merge r increased BankFirst’s delinquent loans from $394,000 last year to $8.4 millio this year.
“We’re liquidating that portfolik and setting aside reserves to take care of anylossesx — a process we expect to mostly complete earl y next year.” Not everyone experienced a worsening of Florida saw its delinquent loans fall from about $1 milliomn in 2007 to $47,000 this Most of that $1 million was consumer by one property that was foreclosed and then sold at a small profit. “We’re not a residential loan which is where a lot of banksz are seeingtheir [bad loan] Orange Bank president Michaeo McClanahan said.
“When we were founded in 2005, we saw the market getting soft and decided not to getinto
The dollar amount of their delinquenty loans and leases skyrocketef more than 195 percent as Florida continued to struggle withthe housing-induced recession. Twenty-one community bankx reported combined delinquent loans of morethan $150.6 million as of June 30, or nearly triplde the $51 million reported for the seconr quarter of 2007, according to the latest statistics from the Federal Deposit Insurance Corp. Meanwhile, 16 communityy banks experienced increases in the dolladr amount of loans past due by at least 90 while one had a The other four banks had none.
Most of the bankerzs contacted attributed the increasein past-due loans to the housinb mortgage meltdown, which had a ripple effecgt through the construction, real estate and financial among others. “All banks are experiencing more of and it’s indicative of what’s going on economicallty in Florida,” said Michael Collins, presidenty and CEO of in Orlando, the largest community bank in the area with more than $1 billion in CNL had one of the biggesg increases in delinquent loane during the last 12 months, going from abougt $1 million in June 2007 to more than $18.2 millio in June 2008. However, Collins noted delinquent loans accouny foronly 1.
75 percent of the bank’s total which is considerably lower than at many Indeed, at in Sanford, delinquent loanz account for 11.14 percent of its total loan portfolio. As of June 30, the bank had $56.7y million worth of loans in arrears, up from aboutf $31.2 million in June 2007. Federal Trust president and CEO Denniws Ward said federal law prohibit him from commenting onhis bank’a loan situation because it’s in the middle of trying to raiswe $30 million in capital. More typically, banksz such as , First Commercial , , and Independenty Banker’s Bank of Florida have delinquent loan percentagews runningfrom 1.5 percent to more than 4 percent.
Alan president and CEO of Firs Commercial Bank of Florida in said the situation can be more complicated than lookinyg at the numbers at face Inhis bank’s case, delinquent loans rose from $412,000 in June 2007 to $23. million a year later for a variety of including that it takes two to six months longe to move through the foreclosure process than it used to because the courtsa are so backed up withsuch “We have to have the title beforer we can sell it,” Rowe said, addin g that banking regulators also are tightening up on what is considerec a delinquent loan. Rowe and Collins pointed out the numbers can be skewedf somewhat by one or two big loane thatbecome delinquent.
Their banks have the financiaol capability to makesuch loans, whicy also makes them appear to have a bigge problem if those loans fall into arrears, they in Winter Park had a more novekl reason for its large increase in delinquen t loan amounts — a completedx merger with in Melbourne. The merger with Bank Brevarrd alsobrought $14.7 million in residential construction loansa — a business segment BankFirst stays away said BankFirst president and CEO Donald McGowan. That merge r increased BankFirst’s delinquent loans from $394,000 last year to $8.4 millio this year.
“We’re liquidating that portfolik and setting aside reserves to take care of anylossesx — a process we expect to mostly complete earl y next year.” Not everyone experienced a worsening of Florida saw its delinquent loans fall from about $1 milliomn in 2007 to $47,000 this Most of that $1 million was consumer by one property that was foreclosed and then sold at a small profit. “We’re not a residential loan which is where a lot of banksz are seeingtheir [bad loan] Orange Bank president Michaeo McClanahan said.
“When we were founded in 2005, we saw the market getting soft and decided not to getinto
Thursday, September 23, 2010
Magazine honors The Children's Hospital - Denver Business Journal:
http://hddas.ru/index.php?newsid=21860
The hospital qualified for the magazine’s “Honor Roll” in its 2009 edition of America’s Best Children’ Hospitals. The Honor Roll is reserve d for hospitals that achieved rankingt in all surveyed specialty areas covererd by the monthlynews Children’s ranked in the top 10 in six specialty including cancer (No. 10), diabetes and endocrinre disorders (No. 10), digestive disorderxs (No. 5), neonatal care (No. 8), orthopedics (No. 8) and respiratorhy disorders (No. 5). Last year, Children’s was rankedx No. 7 overall among the nation’s pediatrix hospitals. In 2007, it finished at No. 4.
Becausre of a change in how the reportwas compiled, there was no general numerical ranking this year.
The hospital qualified for the magazine’s “Honor Roll” in its 2009 edition of America’s Best Children’ Hospitals. The Honor Roll is reserve d for hospitals that achieved rankingt in all surveyed specialty areas covererd by the monthlynews Children’s ranked in the top 10 in six specialty including cancer (No. 10), diabetes and endocrinre disorders (No. 10), digestive disorderxs (No. 5), neonatal care (No. 8), orthopedics (No. 8) and respiratorhy disorders (No. 5). Last year, Children’s was rankedx No. 7 overall among the nation’s pediatrix hospitals. In 2007, it finished at No. 4.
Becausre of a change in how the reportwas compiled, there was no general numerical ranking this year.
Tuesday, September 21, 2010
FedEx SmartPost leases part of big spec center in Olathe - Wichita Business Journal:
http://www.sheladiaindia.com/air-purification-with-home-air-conditioners
on Thursday signed a long-term lease for 126,00p0 square feet in the 602,000-square-foot spec building completed in late 2008 at22101 W. 167ty St. in Olathe. Constructed in responsse to growing demand forlocal “big industrial space, the distribution center was developed by of Mass., and a partnership led by Dan Jensen, a principakl with in Kansas City. In 2007, when the 40-acre site for the structures was acquired, Jensen said he would targe t large tenants that would take atleast one-thirc of the building. “We’re breaking it a littlde smaller than we thoughtwe might,” Jensen said of the FedE lease.
“But (landing) FedEx, we is a real endorsement for that building and that FedEx SmartPost, an expanding division of FedEx Ground that deliversd packages to U.S. postal facilities for final delivery, will use the spaced for sorting anddistribution operations, Jensen said. “We’ve been working on this deal since which is indicativeof what’s going on in this economy,” Jenseh said. “It’s just a slow But we do have some other deals that aregettinf closer.” Space in the new distribution center is beinhg marketed at $4.25 a foot plus operatingh tax, insurance and maintenance costs.
However, tenantzs will be able to take advantagr ofa 10-year, 50 percent property tax abatement the city of Olathre granted. Banking on continuing demand in Olathe, Jensen’s partnership and Sun Life acquiredr 200 acres at the southwest corner of 151stg Street and Old 56 Highway late in 2008 for the eventua l development of anadditional 2.9 million square feet of industrial space. “The industrial markef has pulled back a little bit since saidEd Elder, presidenf of .
But Elder, who represented when a pre-recessionb wave of logistics activity brought itto Olathe, remainds bullish on Southern Johnson County and the broader Kansas City area as growintg hubs in the nation’s product-distribution network. In PacSun opened a 400,000-square-foot warehoused on 74 acres along167tuh Street, immediately north of Jensen’s spec center. At the time, thoses marketing industrial properties in the area benefite from the planned development ofa 1,000-acrs industrial park surrounding a truck-rail intermodal facilitg near 196th Street and U.S. Highway 56 in Gardner.
BNSF announcefd early this year that the economy had prompted it to postpone indefinitelt construction on the rail portion of theproposed $735 milliob intermodal park. But Elde r said the area’s existing assets, includintg quick access to Interstate 35 andotheer highways, will be enoughy to attract additional tenants once the economy “It helped promote and validate that area,” Elder said of the BNSF “But PacSun got done withouft it. Kimberly-Clark did their deal (for a 450,000-square-foot buildintg near Gardner) without it. And Coleman obviouslyt did not need to beon (an campus.” The latter reference was to a 1.
1 million-square-foot distributiomn center that Inc. is building in the , a 151-acrde industrial park at 175th Streetand U.S. Highwagy 56 in Gardner. Ken one of Kansas City’s top announced in March that he was entering SouthernJohnsomn County’s emerging big-box industrial market at a site just east of the new Colema n facility. Block, a principal of , leads an investment partnership that bought 229 acres at the northwesft corner of 175th Streer and Hedge Lanein Olathe. On that site, Blockl & Co. plans to develop a $275 million project containingt more than 3 million square feet of industrial buildings during the next 10 to12 years.
Brenyt Hansen, research services manager forGrubb Ellis/the Winbury Group, said no industrial vacancy statistices are available for the Southern Johnson Counth market. But the industrial vacancy rate for all of Johnsohn County in the first quarterwas 6.3 in line with the strong metrowide average of 6.1 percent.
on Thursday signed a long-term lease for 126,00p0 square feet in the 602,000-square-foot spec building completed in late 2008 at22101 W. 167ty St. in Olathe. Constructed in responsse to growing demand forlocal “big industrial space, the distribution center was developed by of Mass., and a partnership led by Dan Jensen, a principakl with in Kansas City. In 2007, when the 40-acre site for the structures was acquired, Jensen said he would targe t large tenants that would take atleast one-thirc of the building. “We’re breaking it a littlde smaller than we thoughtwe might,” Jensen said of the FedE lease.
“But (landing) FedEx, we is a real endorsement for that building and that FedEx SmartPost, an expanding division of FedEx Ground that deliversd packages to U.S. postal facilities for final delivery, will use the spaced for sorting anddistribution operations, Jensen said. “We’ve been working on this deal since which is indicativeof what’s going on in this economy,” Jenseh said. “It’s just a slow But we do have some other deals that aregettinf closer.” Space in the new distribution center is beinhg marketed at $4.25 a foot plus operatingh tax, insurance and maintenance costs.
However, tenantzs will be able to take advantagr ofa 10-year, 50 percent property tax abatement the city of Olathre granted. Banking on continuing demand in Olathe, Jensen’s partnership and Sun Life acquiredr 200 acres at the southwest corner of 151stg Street and Old 56 Highway late in 2008 for the eventua l development of anadditional 2.9 million square feet of industrial space. “The industrial markef has pulled back a little bit since saidEd Elder, presidenf of .
But Elder, who represented when a pre-recessionb wave of logistics activity brought itto Olathe, remainds bullish on Southern Johnson County and the broader Kansas City area as growintg hubs in the nation’s product-distribution network. In PacSun opened a 400,000-square-foot warehoused on 74 acres along167tuh Street, immediately north of Jensen’s spec center. At the time, thoses marketing industrial properties in the area benefite from the planned development ofa 1,000-acrs industrial park surrounding a truck-rail intermodal facilitg near 196th Street and U.S. Highway 56 in Gardner.
BNSF announcefd early this year that the economy had prompted it to postpone indefinitelt construction on the rail portion of theproposed $735 milliob intermodal park. But Elde r said the area’s existing assets, includintg quick access to Interstate 35 andotheer highways, will be enoughy to attract additional tenants once the economy “It helped promote and validate that area,” Elder said of the BNSF “But PacSun got done withouft it. Kimberly-Clark did their deal (for a 450,000-square-foot buildintg near Gardner) without it. And Coleman obviouslyt did not need to beon (an campus.” The latter reference was to a 1.
1 million-square-foot distributiomn center that Inc. is building in the , a 151-acrde industrial park at 175th Streetand U.S. Highwagy 56 in Gardner. Ken one of Kansas City’s top announced in March that he was entering SouthernJohnsomn County’s emerging big-box industrial market at a site just east of the new Colema n facility. Block, a principal of , leads an investment partnership that bought 229 acres at the northwesft corner of 175th Streer and Hedge Lanein Olathe. On that site, Blockl & Co. plans to develop a $275 million project containingt more than 3 million square feet of industrial buildings during the next 10 to12 years.
Brenyt Hansen, research services manager forGrubb Ellis/the Winbury Group, said no industrial vacancy statistices are available for the Southern Johnson Counth market. But the industrial vacancy rate for all of Johnsohn County in the first quarterwas 6.3 in line with the strong metrowide average of 6.1 percent.
Monday, September 20, 2010
Cameron to acquire Natco Group - Houston Business Journal:
http://www.catherineruddell.com/vinyl-siding-and-its-high-demand/
The purchase price is based onNatco Group’zs closing stock price of $31.03 on June 1. Under the Natco (NYSE: NTG) shareholders will receive 1.185 shares in Houston-based Camerob (NYSE: CAM) in return for each of Natco’s 20.3 million shares outstanding. In a Tuesday conferenced call, it was stated that the companieshave “admired each other’s capabilitiex for three years.” “As you know, Natco builds processing and separation products, something that Cameron outsources most of today,” said Jack president and chief executive officer of He said he estimates that combiningy the companies will yield a cost savingz of about $30 million to $40 When the deal closes in the third quarter, Natcp shareholders will own about 10 percent of Cameron’s 217 million shares Natco has about 2,400 employee s and had revenue of more than $650 million during 2008.
Simmonas & Co. International served as financial adviser toCameron CAM), while Barclays Capital servedf as financial adviser to
The purchase price is based onNatco Group’zs closing stock price of $31.03 on June 1. Under the Natco (NYSE: NTG) shareholders will receive 1.185 shares in Houston-based Camerob (NYSE: CAM) in return for each of Natco’s 20.3 million shares outstanding. In a Tuesday conferenced call, it was stated that the companieshave “admired each other’s capabilitiex for three years.” “As you know, Natco builds processing and separation products, something that Cameron outsources most of today,” said Jack president and chief executive officer of He said he estimates that combiningy the companies will yield a cost savingz of about $30 million to $40 When the deal closes in the third quarter, Natcp shareholders will own about 10 percent of Cameron’s 217 million shares Natco has about 2,400 employee s and had revenue of more than $650 million during 2008.
Simmonas & Co. International served as financial adviser toCameron CAM), while Barclays Capital servedf as financial adviser to
Sunday, September 19, 2010
Advanta agrees to refund customers up to $35M in FDIC agreements - Dayton Business Journal:
domnaofyvisyhojo.blogspot.com
That agreement addresses charges that theSpringy House, Pa.-based company violated federal trad e laws through its pricing strategies on businesx credit cards, and in its marketinbg of cash-back rewards on the cards. Advantza said it did not admi wrongdoing and that it entered theagreementsx “in the interest of expedienc and to avoid litigation.” Advantas said it took a $14 million charge to cover refundds tied to the alleged marketing violations in third-quarted 2008 and will take a second-quartere 2009 charge to cover refunds over its pricing strategies, which it said could total $21 million. Advantaq also agreed to a $150,000 fine.
In a separate agreemen with the FDIC, Advanta’s abilitty to use cash and pay dividends hasbeen restricted. The companyt must submit a plan toremain "well-capitalized," and submit a plan to terminatd its deposit-taking operations and deposigt insurance once its deposits are repaid in a process expected to take a few years. The second agreemeng with the FDIC place s restrictionson Advanta’s use of its cash assets, paymentt of dividends and transactions that would materiallt alter its balance sheet composition and taking of brokered deposits.
Advanta said the second ordee does not in any way restrict it from continuing to servicwe itsmanaged credit-card accounts and receivables. In an effor to limit losses and erosion of its capitakl ascredit deteriorates, Advanta said in early May that its securitization trust will go into earlyg amortization — where the company uses receivables from customersd to accelerate payment to investor While that protects investors from prolonged exposure to a pool of receivablesw whose credit performance has deteriorated, Advanta would have neede an alternative way to fund new purchases on its customers’ credigt cards. So it had to shut down futurwe use, effective May 30.
It has since referredr some customers to AmericanExpress Co. Advanta’s stoci closed 2 7 percent lower Wednesdayu at42 cents.
That agreement addresses charges that theSpringy House, Pa.-based company violated federal trad e laws through its pricing strategies on businesx credit cards, and in its marketinbg of cash-back rewards on the cards. Advantza said it did not admi wrongdoing and that it entered theagreementsx “in the interest of expedienc and to avoid litigation.” Advantas said it took a $14 million charge to cover refundds tied to the alleged marketing violations in third-quarted 2008 and will take a second-quartere 2009 charge to cover refunds over its pricing strategies, which it said could total $21 million. Advantaq also agreed to a $150,000 fine.
In a separate agreemen with the FDIC, Advanta’s abilitty to use cash and pay dividends hasbeen restricted. The companyt must submit a plan toremain "well-capitalized," and submit a plan to terminatd its deposit-taking operations and deposigt insurance once its deposits are repaid in a process expected to take a few years. The second agreemeng with the FDIC place s restrictionson Advanta’s use of its cash assets, paymentt of dividends and transactions that would materiallt alter its balance sheet composition and taking of brokered deposits.
Advanta said the second ordee does not in any way restrict it from continuing to servicwe itsmanaged credit-card accounts and receivables. In an effor to limit losses and erosion of its capitakl ascredit deteriorates, Advanta said in early May that its securitization trust will go into earlyg amortization — where the company uses receivables from customersd to accelerate payment to investor While that protects investors from prolonged exposure to a pool of receivablesw whose credit performance has deteriorated, Advanta would have neede an alternative way to fund new purchases on its customers’ credigt cards. So it had to shut down futurwe use, effective May 30.
It has since referredr some customers to AmericanExpress Co. Advanta’s stoci closed 2 7 percent lower Wednesdayu at42 cents.
Friday, September 17, 2010
Volker Schellenberger Executive Profile
hustenuejib1630.blogspot.com
**All Executive profile data provided byDow
**All Executive profile data provided byDow
Thursday, September 16, 2010
SMF Energy announces $40M recapitalization - San Francisco Business Times:
vadimsudigrenev.blogspot.com
The company (NASDAQ: FUEL) said in a news release that it estimatess the recapitalization will reducedits short-term debt by $9.5 its total debt by $4.4 million and its cash requirementzs for interest and dividends by more than $1 millioh a year. It said equity has been increased by morethan $4 million as a SMF Energy said it extinguished all of its existintg non-bank debt and outstanding preferred stock through variouw agreements with dozens of existing debt and equity while converting its existing $25 million asset-basedd lending facility into a new, more three-year, $20 million asset-based lending facility and a $5 million, 60-montb amortized term loan, the proceeds of which were used to pay down $4.
8667 million in secured notes and $125,000 in unsecured The company said it issued new stock to make up the balancd paid for the cancellation and extinguishment of the existiny investors' debt and equity securities. Fort Lauderdale-based SMF Energyt said in the release that the recapitalization took placw with amended agreements withand . It said the only non-banl debt incurred in the recapitalization was an unsecurec subordinated promissory noteof $800,000 at 5.
5 perceny interest issued to an existing institutional investor in exchange for $800,000 of one of the August 2007 11 percentr senior secured convertible promissory The institutional investor also exchanged $200,000 of the same secured note for share of common stock priced at 38 centss a share, which was greate r than the closing bid price of the stock on the day befor the effective date. acted as SMF Energy’s placement agent for the recapitalizationm and received feesof $380,000, paid with a combinationh of cash and securities, pursuant to a Feb. 1 investment bankingb agreement.
SMF Energy supplies specialized transportationm and distribution services for petroleum products and It provides commercial mobilde andbulk fueling, alongf with other services to the transportation, manufacturing, energy, telecommunications and government services sectors. Formerly known as , as of Nov. 30, it conducteds operations through 31 service locationsd in11 states. Shares closed down nearlyg 3 cents to about 35 The 52-week high was 71 cents on Aug. 28. The 52-week low was 10 cents on Feb. 20.
The company (NASDAQ: FUEL) said in a news release that it estimatess the recapitalization will reducedits short-term debt by $9.5 its total debt by $4.4 million and its cash requirementzs for interest and dividends by more than $1 millioh a year. It said equity has been increased by morethan $4 million as a SMF Energy said it extinguished all of its existintg non-bank debt and outstanding preferred stock through variouw agreements with dozens of existing debt and equity while converting its existing $25 million asset-basedd lending facility into a new, more three-year, $20 million asset-based lending facility and a $5 million, 60-montb amortized term loan, the proceeds of which were used to pay down $4.
8667 million in secured notes and $125,000 in unsecured The company said it issued new stock to make up the balancd paid for the cancellation and extinguishment of the existiny investors' debt and equity securities. Fort Lauderdale-based SMF Energyt said in the release that the recapitalization took placw with amended agreements withand . It said the only non-banl debt incurred in the recapitalization was an unsecurec subordinated promissory noteof $800,000 at 5.
5 perceny interest issued to an existing institutional investor in exchange for $800,000 of one of the August 2007 11 percentr senior secured convertible promissory The institutional investor also exchanged $200,000 of the same secured note for share of common stock priced at 38 centss a share, which was greate r than the closing bid price of the stock on the day befor the effective date. acted as SMF Energy’s placement agent for the recapitalizationm and received feesof $380,000, paid with a combinationh of cash and securities, pursuant to a Feb. 1 investment bankingb agreement.
SMF Energy supplies specialized transportationm and distribution services for petroleum products and It provides commercial mobilde andbulk fueling, alongf with other services to the transportation, manufacturing, energy, telecommunications and government services sectors. Formerly known as , as of Nov. 30, it conducteds operations through 31 service locationsd in11 states. Shares closed down nearlyg 3 cents to about 35 The 52-week high was 71 cents on Aug. 28. The 52-week low was 10 cents on Feb. 20.
Tuesday, September 14, 2010
TECO Energy outlook remains strong - Triangle Business Journal:
aleshnikovenil.blogspot.com
billion in debt held by and subsidiariesand Co. The ratin is supported by the underlying strengt hof TECO’s regulated electric and gas utilityt subsidiary, from which it derives stablw cash distributions to meet its funding Fitch said a release. Tampa Electric continues to post stronfcredit metrics, it maintains solid operating performancre and it benefits from Florida’s constructivd regulatory environment, Fitch said. Fitch is concerned, about slowing customer growth at Tampa Electric. But the company has responded to slower growth by postponing projectxs to increaseelectric capacity.
Anothetr concern for Fitch is cash flow deterioration atTECO TE) Guatemala because of the advers rate order in 2008, unplannec outages at the San Jose plant, uncertainth over the extension of a purchasedr power agreement, and the potential for deferrec or renegotiated contracts because of declininyg market prices, higher production costs and slumping demans for coal. TECO Coal and TECO Guatemalz provide roughly 20 percent of theparent company’s consolidated earnings before taxes, depreciation and amortization, Fitch said. Credit ratios at Tampa Electric should benefit from higher base rates in 2009 and 2010 as a resulrt ofa $138 million rate ordeer approved in March, Fitch said.
In addition, an affiliate waterborne transportation agreement that reducedTampa Electric’sw annual net income by $10 million in prior years is Fitch expects coverage ratios to remain relatively stronv with funds from operations coverage at nearly five time s in 2009. TECO Coal is expectedc to benefit from higher pricedx contracts signedin 2008. However, soft coal demanx and higher mining production costs at TECO Coal raisee the risks ofcontractual non-performance by counter-parties and pressureed margins. Diverse regulatory orders and operating issues at the Guatemalan operationz will result in dividend distributions that are lower thanhistorifc levels.
TECO's liquidity position is considered strong, Fitcnh said. Cash and cash equivalents were $34.9 million and available credit facilitieswere $530 millionb as of March 31. Liquidity was enhanced by a netoperatin loss-tax carry forward of $547.5 million as of Dec. 31, which is expected to result in minimal cash tax paymentxthrough 2012. In addition, TECO's $100 millionm note maturing in 2010 is expectec to be retired withinternal cash. Positive ratinb action could result in the futurd from consolidated leverage ratio reductio n in 2010 and higher cash flows from a full year of higher base rates in 2010 and effectivecost control.
billion in debt held by and subsidiariesand Co. The ratin is supported by the underlying strengt hof TECO’s regulated electric and gas utilityt subsidiary, from which it derives stablw cash distributions to meet its funding Fitch said a release. Tampa Electric continues to post stronfcredit metrics, it maintains solid operating performancre and it benefits from Florida’s constructivd regulatory environment, Fitch said. Fitch is concerned, about slowing customer growth at Tampa Electric. But the company has responded to slower growth by postponing projectxs to increaseelectric capacity.
Anothetr concern for Fitch is cash flow deterioration atTECO TE) Guatemala because of the advers rate order in 2008, unplannec outages at the San Jose plant, uncertainth over the extension of a purchasedr power agreement, and the potential for deferrec or renegotiated contracts because of declininyg market prices, higher production costs and slumping demans for coal. TECO Coal and TECO Guatemalz provide roughly 20 percent of theparent company’s consolidated earnings before taxes, depreciation and amortization, Fitch said. Credit ratios at Tampa Electric should benefit from higher base rates in 2009 and 2010 as a resulrt ofa $138 million rate ordeer approved in March, Fitch said.
In addition, an affiliate waterborne transportation agreement that reducedTampa Electric’sw annual net income by $10 million in prior years is Fitch expects coverage ratios to remain relatively stronv with funds from operations coverage at nearly five time s in 2009. TECO Coal is expectedc to benefit from higher pricedx contracts signedin 2008. However, soft coal demanx and higher mining production costs at TECO Coal raisee the risks ofcontractual non-performance by counter-parties and pressureed margins. Diverse regulatory orders and operating issues at the Guatemalan operationz will result in dividend distributions that are lower thanhistorifc levels.
TECO's liquidity position is considered strong, Fitcnh said. Cash and cash equivalents were $34.9 million and available credit facilitieswere $530 millionb as of March 31. Liquidity was enhanced by a netoperatin loss-tax carry forward of $547.5 million as of Dec. 31, which is expected to result in minimal cash tax paymentxthrough 2012. In addition, TECO's $100 millionm note maturing in 2010 is expectec to be retired withinternal cash. Positive ratinb action could result in the futurd from consolidated leverage ratio reductio n in 2010 and higher cash flows from a full year of higher base rates in 2010 and effectivecost control.
Monday, September 13, 2010
Giants' Hakeem Nicks credits practice and film session work with Eli Manning ... - New York Daily News
idellecromwell1991.blogspot.com
New York Daily News | Giants' Hakeem Nicks credits practice and film session work with Eli Manning ... New York Daily News The two linked up in practice, and film sessions proved mutu » |
Saturday, September 11, 2010
Portsmouth 0-0 Ipswich: Sunday Mirror match report - MirrorFootball.co.uk
http://www.inlivecaffe.com/authors/author-757.html
RTE.ie | Portsmouth 0-0 Ipswich: Sunday Mirror match report MirrorFootb » |
Friday, September 10, 2010
Charlotte attorney to lead United Way review panel - Charlotte Business Journal:
http://1stw.info/index.php?s=D&c=541
The independent review panel will be headerd byRobert C. an attorney with . The review panel he will lead will conduct an audit and review the proces and decisions that led to the compensatiohn controversy over GloriaPace King’s retiremengt package. “I hope the revieq panel will help this organization and this community look back and look Sink says. “Although the membere of the panel have yet tobe selected, I am committeds to implementing the board’s directivee that the panel reflec t the diversity of the community servef by United Way of Central Carolinas.
” The board statementy says the panel’s recommendations will be designed to assure a focused and informed process for executive compensatioj and other major decisions of the The panel also will evaluatw and propose changes to improve the governance of the Unitex Way of Central Carolinas. Thos e will include, but not be limited to, possiblgy reconstituting the board of directors and itsexecutiver committee. In an interview, Sink says his immediate task is to assemblethe panel, which he expectsx will likely have seven members. He expect s to spend the next several days listenin g to recommendations for members of that panel with the goal of completingv the roster within10 days.
His criteria for panepl members: people who have not been on the boarsd with backgrounds that will represent theentir community. From there, the group will begin assembling the basic informationit needs. That will includew discussions with all the board members who would have been involved in executiv ecompensation decisions. Sink’s full report is targetef for completion byyear end. He says the report will be made publicv at the end ofthe process. “I would not have taken this task on without the understanding that the reportt willbe public,” he says. Sink has never served on the Unite d Way board and has had no significanf involvement withthe organization.
His civic and communityg activities include service on the boards of the Public Librart of Charlotte andMecklenburg County, the Museum of the New Soutn and Discovery Place. He is a 1965 Duke Universitg law grad who practices with a concentratioj in commercialreal estate. His practicr includes the development, financing and sale of mixed-use and retaipl centers, office and industrial complexes, and multifamily and single-familuy residential communities. Sink was Mecklenburg Countuy Bar chairmanin 1986-87.
The independent review panel will be headerd byRobert C. an attorney with . The review panel he will lead will conduct an audit and review the proces and decisions that led to the compensatiohn controversy over GloriaPace King’s retiremengt package. “I hope the revieq panel will help this organization and this community look back and look Sink says. “Although the membere of the panel have yet tobe selected, I am committeds to implementing the board’s directivee that the panel reflec t the diversity of the community servef by United Way of Central Carolinas.
” The board statementy says the panel’s recommendations will be designed to assure a focused and informed process for executive compensatioj and other major decisions of the The panel also will evaluatw and propose changes to improve the governance of the Unitex Way of Central Carolinas. Thos e will include, but not be limited to, possiblgy reconstituting the board of directors and itsexecutiver committee. In an interview, Sink says his immediate task is to assemblethe panel, which he expectsx will likely have seven members. He expect s to spend the next several days listenin g to recommendations for members of that panel with the goal of completingv the roster within10 days.
His criteria for panepl members: people who have not been on the boarsd with backgrounds that will represent theentir community. From there, the group will begin assembling the basic informationit needs. That will includew discussions with all the board members who would have been involved in executiv ecompensation decisions. Sink’s full report is targetef for completion byyear end. He says the report will be made publicv at the end ofthe process. “I would not have taken this task on without the understanding that the reportt willbe public,” he says. Sink has never served on the Unite d Way board and has had no significanf involvement withthe organization.
His civic and communityg activities include service on the boards of the Public Librart of Charlotte andMecklenburg County, the Museum of the New Soutn and Discovery Place. He is a 1965 Duke Universitg law grad who practices with a concentratioj in commercialreal estate. His practicr includes the development, financing and sale of mixed-use and retaipl centers, office and industrial complexes, and multifamily and single-familuy residential communities. Sink was Mecklenburg Countuy Bar chairmanin 1986-87.
Wednesday, September 8, 2010
Mismatch between supply and demand ails nursing profession - Puget Sound Business Journal (Seattle):
http://www.dillink.com/authors/author-486.html
Now, in the midst of a severe nursing shortage, hospitals and clinicas are hiring — but not necessarilty new graduateslike White. Nursese who are already employed arestaying put, and hospitalp nursing recruiters are looking for candidates with lots of clinical specialized skills and previous volunteer work. Statw budget cuts make it toughj for colleges to fund programs to teachthe extra, specializecd nursing skills that hospitals and patients “What we are seeing now is fewer jobs for our said Jan West, dean of Healtnh and Human Services at .
To becomw an LPN, or licensed practical nurse, a student must completwe a training program, usually lasting one at a vocational school or community LPNs earn an averageof $36,55o and the projects that employment for them will grow 14 perceng between 2006 and with special need for home care services. Righft now, though, the basic skills of an LPN often are not enough to competew in thisjob market. “LPNs looking for jobs are Seattle Central’s West said.
“They know they need more refineed skills and higher levels of academicc preparation to get the jobs that are out Becoming a registered nurse requiresa bachelor’s an associate degree or a diploma from a nursing RN’s earn between $47,000 and $69,00 0 and employment is projected to grow 23 percent from 2006 to with physicians’ offices and home health care services showingg the greatest demand. The nursing shortage is more than 10 yearzs inthe making. After a stream of cost-cuttinv moves in the 1990s, hospitals are now findinvg their needs outweighingtheir supply. And experienced nursews have scooped up the previouslyopen positions.
“Thies is the first time we’ve had both a demand- and supply-based shortage,” said Marla Salmon, dean of ’s Schookl of Nursing and former director of nursing inthe . The deman will keep growing, according to as baby boomers age and need more extensivwehealth care. Faced with a surplus of inexperiencer nurseswith entry-level the , in Seattle, has creates a master plan aimed at improving nursinyg education. The group predicts more highly educated nursess willbe needed.
“We’re in a uniquer situation in this state because we needed to add abouf 400slots (in schools) for said Linda Tieman, executive director of the The cause of inadequate training is not a lack of interestg from nursing students, but rather, Tieman that schools do not have the capacity to fit in more nor do they have the faculty to support them. The cente proposes increasing pay fornursing faculty, settingg up residency programs for new graduateds to help them make the transition into beingb an RN or specializexd nurse, and strengthening science education in middle schools.
Private schools like Seattle University and even publidc schools like Seattle Central Community College have increased their nursingg enrollments but are workinfg hard to keep costs low withou t affecting theacademic experience. The nursing program at Seattle Central is offeringfextra tutoring, special technological traininvg and summer transition programs to help LPNs prepare to becomr RNs. But to competes with experienced nurses, new graduates will need to have a few yearzs of health care service undertheir belt. “Whag is going to mattefr to us will be the deptj of experience when individuals apply for a saidSusan Heath, chief nursing officer at . “Second, is volunteering.
Volunteering givezs the signal that you are concerned aboutyour community. That’e important to the health of a hospital.” White, the Seattle U nursinbg grad, wants to go into pediatrics and has also been doinvg a practicumwith Children’s Hospital, but she will probablyh continue to work with adulft patients at the to get more experience. She said beggarse can’t be choosers these “The hardest thing is giving up the idealistic idea of starting right now in exactlgy whatyou want,” White said.
“We kind of have to go with the
Now, in the midst of a severe nursing shortage, hospitals and clinicas are hiring — but not necessarilty new graduateslike White. Nursese who are already employed arestaying put, and hospitalp nursing recruiters are looking for candidates with lots of clinical specialized skills and previous volunteer work. Statw budget cuts make it toughj for colleges to fund programs to teachthe extra, specializecd nursing skills that hospitals and patients “What we are seeing now is fewer jobs for our said Jan West, dean of Healtnh and Human Services at .
To becomw an LPN, or licensed practical nurse, a student must completwe a training program, usually lasting one at a vocational school or community LPNs earn an averageof $36,55o and the projects that employment for them will grow 14 perceng between 2006 and with special need for home care services. Righft now, though, the basic skills of an LPN often are not enough to competew in thisjob market. “LPNs looking for jobs are Seattle Central’s West said.
“They know they need more refineed skills and higher levels of academicc preparation to get the jobs that are out Becoming a registered nurse requiresa bachelor’s an associate degree or a diploma from a nursing RN’s earn between $47,000 and $69,00 0 and employment is projected to grow 23 percent from 2006 to with physicians’ offices and home health care services showingg the greatest demand. The nursing shortage is more than 10 yearzs inthe making. After a stream of cost-cuttinv moves in the 1990s, hospitals are now findinvg their needs outweighingtheir supply. And experienced nursews have scooped up the previouslyopen positions.
“Thies is the first time we’ve had both a demand- and supply-based shortage,” said Marla Salmon, dean of ’s Schookl of Nursing and former director of nursing inthe . The deman will keep growing, according to as baby boomers age and need more extensivwehealth care. Faced with a surplus of inexperiencer nurseswith entry-level the , in Seattle, has creates a master plan aimed at improving nursinyg education. The group predicts more highly educated nursess willbe needed.
“We’re in a uniquer situation in this state because we needed to add abouf 400slots (in schools) for said Linda Tieman, executive director of the The cause of inadequate training is not a lack of interestg from nursing students, but rather, Tieman that schools do not have the capacity to fit in more nor do they have the faculty to support them. The cente proposes increasing pay fornursing faculty, settingg up residency programs for new graduateds to help them make the transition into beingb an RN or specializexd nurse, and strengthening science education in middle schools.
Private schools like Seattle University and even publidc schools like Seattle Central Community College have increased their nursingg enrollments but are workinfg hard to keep costs low withou t affecting theacademic experience. The nursing program at Seattle Central is offeringfextra tutoring, special technological traininvg and summer transition programs to help LPNs prepare to becomr RNs. But to competes with experienced nurses, new graduates will need to have a few yearzs of health care service undertheir belt. “Whag is going to mattefr to us will be the deptj of experience when individuals apply for a saidSusan Heath, chief nursing officer at . “Second, is volunteering.
Volunteering givezs the signal that you are concerned aboutyour community. That’e important to the health of a hospital.” White, the Seattle U nursinbg grad, wants to go into pediatrics and has also been doinvg a practicumwith Children’s Hospital, but she will probablyh continue to work with adulft patients at the to get more experience. She said beggarse can’t be choosers these “The hardest thing is giving up the idealistic idea of starting right now in exactlgy whatyou want,” White said.
“We kind of have to go with the
Tuesday, September 7, 2010
Philippine Bonds Advance as Overseas Debt Sale Approaches; Peso Steady - Bloomberg
http://www.ss6.net/authors/author-343.html
Philippine Bonds Advance as Overseas Debt Sale Approaches; Peso Steady Bloomberg ... optimism the government will have less of a need to raise funds from the domestic market this year as policy makers prepare to sell peso debt overseas. ... |
Sunday, September 5, 2010
Concordia scales back pharmacy school - The Business Journal of Milwaukee:
http://www.pslogos.com/firefox.html
“I’ve got a lot of proposales out and a lot ofgood leads, but haven’tt gotten a new nickel since the firsft of the year,” said Curt Gielow, executive dean of the School of Pharmacy. When school officials announced plansz inlate 2008, the goal was to have half of the $20 millionn needed for a new building and faculthy recruitment, salaries and schoop operations for its first year raisedd by spring 2009. So far, $4.6 millionm has been raised. The Concordia project has been scalesd downfrom 80,000 square feet, which included a basemen level, to 50,000 square feet with no basement, Gieloa said.
The new fundraising goal is $15 What hasn’t changed, however, is the plan to stary classes for the first class of pharmacy students inSeptembe 2010. Incoming freshmen accepted into the pharmacgy program will attend classesd in the lower level ofRegents Hall, Concordia’ws newest dorm. Housing the schoool in the dorm lightened thefundraising burden, Gielo said. Gielow, who is in charge of fundraising, said his recent decision to run for mayord of Mequon will not affec his jobat Concordia. The university plansz to accept about 60 students the firsyt year of the pharmacy program and increase that to 75 studentsper class.
Admission requirements and tuition rates have not been The $4.6 million donated to the pharmacg project in 2008 includes $1 million from Shopko Storezs of Green Bay; two anonymous donations at $1 million each; $1.5 millioh in smaller donations; and $100,00 from the M&I Bank Foundation. By the Concordia School of Pharmacy’s annual operational costz will be covered by student tuitiojand fees, school officials have said. Gielow blamesa the recent fundraising slump onthe recession.
“Therew are a lot of foundationxs out there that would like to supporyt us andprobably will,” Gielow Many philanthropic organizations are maintaining previouds financial commitments this year, but are not donatingv to new capital campaign projects, said Deborah Fugenschuh, presidentt of the . “Concordia has a new program, whichh is a challenge, and it’s a substantial amount of money,” Fugenschuhj said. “It’s not becausw this isn’t a worthy cause, it’sw because of the broader economicchallengeas we’re all facing.” Fugenschuh predicts the lag in philanthropiv donations will continue into 2010.
“I’ve got a lot of proposales out and a lot ofgood leads, but haven’tt gotten a new nickel since the firsft of the year,” said Curt Gielow, executive dean of the School of Pharmacy. When school officials announced plansz inlate 2008, the goal was to have half of the $20 millionn needed for a new building and faculthy recruitment, salaries and schoop operations for its first year raisedd by spring 2009. So far, $4.6 millionm has been raised. The Concordia project has been scalesd downfrom 80,000 square feet, which included a basemen level, to 50,000 square feet with no basement, Gieloa said.
The new fundraising goal is $15 What hasn’t changed, however, is the plan to stary classes for the first class of pharmacy students inSeptembe 2010. Incoming freshmen accepted into the pharmacgy program will attend classesd in the lower level ofRegents Hall, Concordia’ws newest dorm. Housing the schoool in the dorm lightened thefundraising burden, Gielo said. Gielow, who is in charge of fundraising, said his recent decision to run for mayord of Mequon will not affec his jobat Concordia. The university plansz to accept about 60 students the firsyt year of the pharmacy program and increase that to 75 studentsper class.
Admission requirements and tuition rates have not been The $4.6 million donated to the pharmacg project in 2008 includes $1 million from Shopko Storezs of Green Bay; two anonymous donations at $1 million each; $1.5 millioh in smaller donations; and $100,00 from the M&I Bank Foundation. By the Concordia School of Pharmacy’s annual operational costz will be covered by student tuitiojand fees, school officials have said. Gielow blamesa the recent fundraising slump onthe recession.
“Therew are a lot of foundationxs out there that would like to supporyt us andprobably will,” Gielow Many philanthropic organizations are maintaining previouds financial commitments this year, but are not donatingv to new capital campaign projects, said Deborah Fugenschuh, presidentt of the . “Concordia has a new program, whichh is a challenge, and it’s a substantial amount of money,” Fugenschuhj said. “It’s not becausw this isn’t a worthy cause, it’sw because of the broader economicchallengeas we’re all facing.” Fugenschuh predicts the lag in philanthropiv donations will continue into 2010.
Saturday, September 4, 2010
Federated sells Lord & Taylor for less than expected - Baltimore Business Journal:
http://www.kasabati.com/article/REMAX-Founders-Sanctuary-Ranked-Top-100-Golf-Course-By-Golf-Digest.html
Federated signed an agreementg June 22 to sell theNew York-base d division to NRDC of Purchase, for $1.195 billion in cash, but said Tuesday that the finakl sale price was adjusted to $1.083 billion, or abouy $840 million after tax. The lowerefd sale price, according to a release, is due primarilg to the fact that Federated agreed to sublease certaij properties to NRDC due to restrictions in the leasez underlyingthose properties. The rental income on these propertied is expected to beabout $8.6 million per Federated acquired Lord & Taylor when it closed its purchasse of St. Louis-based May Department Stores Co. Aug. 30, 2005.
Upscale fashionb retailer Lord & Taylor, founded in 1826, has storea at The Mall in Columbiw andWestfield Annapolis. It also has stores in Northerb Virginia andMontgomery County. The Lord & Taylor division includeds 48 stores inNew Jersey, New York, Massachusetts, Connecticut, Maryland, Michigan, Pennsylvania, and the District of Columbia, as well as a distribution center in Wilkes-Barre, Pa. Cincinnati-based Federated Department Stores (NYSE: FD) operatesd nearly 950 department stores and more than 700 bridal and formalwear storeds in49 states, the District of Columbia, Guam and Puertpo Rico.
Federated signed an agreementg June 22 to sell theNew York-base d division to NRDC of Purchase, for $1.195 billion in cash, but said Tuesday that the finakl sale price was adjusted to $1.083 billion, or abouy $840 million after tax. The lowerefd sale price, according to a release, is due primarilg to the fact that Federated agreed to sublease certaij properties to NRDC due to restrictions in the leasez underlyingthose properties. The rental income on these propertied is expected to beabout $8.6 million per Federated acquired Lord & Taylor when it closed its purchasse of St. Louis-based May Department Stores Co. Aug. 30, 2005.
Upscale fashionb retailer Lord & Taylor, founded in 1826, has storea at The Mall in Columbiw andWestfield Annapolis. It also has stores in Northerb Virginia andMontgomery County. The Lord & Taylor division includeds 48 stores inNew Jersey, New York, Massachusetts, Connecticut, Maryland, Michigan, Pennsylvania, and the District of Columbia, as well as a distribution center in Wilkes-Barre, Pa. Cincinnati-based Federated Department Stores (NYSE: FD) operatesd nearly 950 department stores and more than 700 bridal and formalwear storeds in49 states, the District of Columbia, Guam and Puertpo Rico.
Thursday, September 2, 2010
Convention business up, visitor count down - Business First of Buffalo:
Floors
CVB officials said the bureaui has booked 108new conventions, meetings, special events or amateur sportinbg events since the beginnintg of the year — a 27 percent increase from the 85 bookingss it made during the same period in 2008. The new bookings come as the hospitalitty and tourismindustry - both nationwidr and locally - suffering from the effects of the economy. Hoteo occupancy, according to Smith Travel Researchgof Nashville, is down 11 percentt though April while in Buffalo and Erie County it was off 9.8 falling from 59.4 percent to 53.6 percent. hotel occupancy dropped from 59.1 percenft to 52.6 percent.
It also comes at a time when the CVB is undert fire from Erie Countyt ExecutiveChris Collins, who wants the organization to be more proactiver and aggressive. CVB President and CEO Richard Geiger resigne fromthe bureau, effective Friday, and a national search for his replacementr is only just beginning. The 108 definites bookings will bring in aprojected 59,9111 visitors in the coming months and years, up 60.6 perceny from the 37,293 visitor s that are predicted as part of the 85 bookingd landed in the first part of 2008. The economic impact from the new bookings is peggeeat $28.84 million. Last year’s bookings produce or will produce $22.19 million in local spending.
The CVB salesa and marketing staff is courting another 180 groupse orevents that, if could bring in 88,575 visitors. That’s the good news. The bad news is the visitof count for those potential bookingsw isdown 24.3 percent. Last the CVB made a pitch to 169 groups that coul d have broughtin 117,105 The drop in potentiaol visitors is clearly tied to the said Michael Even, CVB vice president of sales and “Meeting planners are making few commitments,” he said.
they are promising less delegates (visitors) than ever
CVB officials said the bureaui has booked 108new conventions, meetings, special events or amateur sportinbg events since the beginnintg of the year — a 27 percent increase from the 85 bookingss it made during the same period in 2008. The new bookings come as the hospitalitty and tourismindustry - both nationwidr and locally - suffering from the effects of the economy. Hoteo occupancy, according to Smith Travel Researchgof Nashville, is down 11 percentt though April while in Buffalo and Erie County it was off 9.8 falling from 59.4 percent to 53.6 percent. hotel occupancy dropped from 59.1 percenft to 52.6 percent.
It also comes at a time when the CVB is undert fire from Erie Countyt ExecutiveChris Collins, who wants the organization to be more proactiver and aggressive. CVB President and CEO Richard Geiger resigne fromthe bureau, effective Friday, and a national search for his replacementr is only just beginning. The 108 definites bookings will bring in aprojected 59,9111 visitors in the coming months and years, up 60.6 perceny from the 37,293 visitor s that are predicted as part of the 85 bookingd landed in the first part of 2008. The economic impact from the new bookings is peggeeat $28.84 million. Last year’s bookings produce or will produce $22.19 million in local spending.
The CVB salesa and marketing staff is courting another 180 groupse orevents that, if could bring in 88,575 visitors. That’s the good news. The bad news is the visitof count for those potential bookingsw isdown 24.3 percent. Last the CVB made a pitch to 169 groups that coul d have broughtin 117,105 The drop in potentiaol visitors is clearly tied to the said Michael Even, CVB vice president of sales and “Meeting planners are making few commitments,” he said.
they are promising less delegates (visitors) than ever
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