Defendant No. 34 has her say Bend Bulletin In February, in the Cairo courtroom where the democracy advocates were being held in the same kind of cage as Anwar Sadat's killers, Nancy Okail, Defendant No. 34, stood out. It was not just her beauty. The Egyptian woman who leads the Cairo office of ... |
Sunday 29 April 2012
Defendant No. 34 has her say - Bend Bulletin
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Friday 27 April 2012
Baltimore Business Journal: Most viewed Stories
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The 2009 Virgin Mobilew Festival is moving to Merriweather Post Pavilion for a free concerg headlined by rock bands Weezerand Blink-18 2 and hip hop act Public Enemy. The Universit System of Maryland is dismantlin gthe state
The 2009 Virgin Mobilew Festival is moving to Merriweather Post Pavilion for a free concerg headlined by rock bands Weezerand Blink-18 2 and hip hop act Public Enemy. The Universit System of Maryland is dismantlin gthe state
Wednesday 25 April 2012
Stogel to co-chair Mo. economic stimulus council - Kansas City Business Journal:
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Steve Stogel, principal of , will serve as co-chair of the council, which was created to ensure that Missouri maximizes the amount of money it receives from the federalstimulus program. • Steve Ehlmann, St. Charlesx County executive • Charles Burson, of counsel with • Tom Irwin, Civicx Progress executive director • Maxine CEO of Build-a-Bear Workshop • Dave Nichols, presidenrt of • Linda Martinez, director of the Missouri Department of Economi cDevelopment • David chairman of • Donald Suggs, publisherf of the St.
Louis American • Lewia Chartock, president and CEO of The council will submit recommendationds to the governor for coordinating job creation activitiesd with state and federal legislators and for optimizinfg all opportunities with thefederal government. The members of the councilo will servewithout compensation. The council’se creation was one of the firsyt orders signed by Nixoj when he tookoffice . Member’s of the state Economic Stimulus Coordination Council from outsidethe St. Louisw area include: • Co-Chair Greg Wendt, a native St.
now in San Francisco as seniodvice president, • Ed DeSoignie, Kansae City, executive director of the Heavy Constructors Associaton of the Greater Kansas City Area • Terruy Dunn, Kansas City, CEO of Barry Aycock, Parma, principal,
Steve Stogel, principal of , will serve as co-chair of the council, which was created to ensure that Missouri maximizes the amount of money it receives from the federalstimulus program. • Steve Ehlmann, St. Charlesx County executive • Charles Burson, of counsel with • Tom Irwin, Civicx Progress executive director • Maxine CEO of Build-a-Bear Workshop • Dave Nichols, presidenrt of • Linda Martinez, director of the Missouri Department of Economi cDevelopment • David chairman of • Donald Suggs, publisherf of the St.
Louis American • Lewia Chartock, president and CEO of The council will submit recommendationds to the governor for coordinating job creation activitiesd with state and federal legislators and for optimizinfg all opportunities with thefederal government. The members of the councilo will servewithout compensation. The council’se creation was one of the firsyt orders signed by Nixoj when he tookoffice . Member’s of the state Economic Stimulus Coordination Council from outsidethe St. Louisw area include: • Co-Chair Greg Wendt, a native St.
now in San Francisco as seniodvice president, • Ed DeSoignie, Kansae City, executive director of the Heavy Constructors Associaton of the Greater Kansas City Area • Terruy Dunn, Kansas City, CEO of Barry Aycock, Parma, principal,
Tuesday 24 April 2012
Stucky & Associates join Prudential Dinning-Beard - Wichita Business Journal:
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The deal, terms of which were not disclosed, comews not long after Stucky dropped the Coldwell Banker flag. It’s another piece of a recent shakr up with local realestate companies. Plaz Real Estate this week picked up the Coldwell name to expand itsfranchising opportunities. Frank Stucky, CEO of Stucky, said the deal with Prudential offersadditional opportunities. “We now have accesws to greater resource, a state-of-the-art technology a combined national referral system and the power of thePrudentialo name,” Stucky said in a statement. “Wer look forward to reaping the benefitsz of thisstrategic move.” Stucky couldx not be reached for comment Friday.
The transaction adds to Prudentiakl 155 sales professionals to bring its totato 460. Willie Kihle, president of Prudential Dinning-Beard says the deal happeneds quickly. “I think he could have gone anywhere,” Kihler says of Stucky. “We’re just excited about the environmentg we’re in right now. Our objectivre has been to build a company and this is obviouslhy a huge step in that Stucky & Associates, which has officeds in El Dorado, Newton and cut ties with Coldwell Banker in part because of the cost of the annuao franchise fees during the down Stucky told the Wichita Business Journal last week.
He declineed to say how much the Coldwell Bankerfranchisw cost, only calling it “fairly expensive.” “We’ve been looking at doint something basically this whole year,” Stucky said. The deal will bolstedr Prudential’s market share. The company rankedd No. 2 in 2008 residential salesd volume with morethan $397 according to the Wichita Business Journal’ residential real estate brokerages list. Stucky, meanwhile, rankefd No.
4 with nearly $255 million in
The deal, terms of which were not disclosed, comews not long after Stucky dropped the Coldwell Banker flag. It’s another piece of a recent shakr up with local realestate companies. Plaz Real Estate this week picked up the Coldwell name to expand itsfranchising opportunities. Frank Stucky, CEO of Stucky, said the deal with Prudential offersadditional opportunities. “We now have accesws to greater resource, a state-of-the-art technology a combined national referral system and the power of thePrudentialo name,” Stucky said in a statement. “Wer look forward to reaping the benefitsz of thisstrategic move.” Stucky couldx not be reached for comment Friday.
The transaction adds to Prudentiakl 155 sales professionals to bring its totato 460. Willie Kihle, president of Prudential Dinning-Beard says the deal happeneds quickly. “I think he could have gone anywhere,” Kihler says of Stucky. “We’re just excited about the environmentg we’re in right now. Our objectivre has been to build a company and this is obviouslhy a huge step in that Stucky & Associates, which has officeds in El Dorado, Newton and cut ties with Coldwell Banker in part because of the cost of the annuao franchise fees during the down Stucky told the Wichita Business Journal last week.
He declineed to say how much the Coldwell Bankerfranchisw cost, only calling it “fairly expensive.” “We’ve been looking at doint something basically this whole year,” Stucky said. The deal will bolstedr Prudential’s market share. The company rankedd No. 2 in 2008 residential salesd volume with morethan $397 according to the Wichita Business Journal’ residential real estate brokerages list. Stucky, meanwhile, rankefd No.
4 with nearly $255 million in
Sunday 22 April 2012
bizjournals: Energy costs aren't bad news for everyone
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From contractors in Columbus to coal mining companies plenty of firms are cashin g in on the costof energy, as individuals and businessese scramble for alternate fuels and more "We're just swamped," Mike Rosati, president of Rosatii Window Co. in Columbus, Ohio, told . "oI haven't seen anything like it in 27 In Columbus, Business First homeowners are making last-minute improvementsx to stave off heating cost hikes.
It's a naturapl reaction to government predictions of natural gas hikes in the 46 perceny range and fuel oil increases of about 32 Rosati told BusinessFirst he'c hired nine extra workers to help keep up with and expected to hire 10 more in the next few Steve Cikach of USA Insulation told Business Firstg he's been planning for the increase since Aprill -- tripling his advertisingy budget and hiring extra workers -- and expectse business to triple this year. "Without a douby it's pandemonium," Rosati said. "We'rse not even in the same leaguew aslast year.
" While old-fashioned solutions like bettedr insulation and windows and turning down the thermostagt are back in vogue, so are alternative energy companies, as individualsa and companies look for new ways to fuel theire lives. "The high cost of natural gas and electricityh is making our alternative energuy optioneconomically feasible," Dan Eastman, vice president for Microgen Cogenerationj Systems, Inc., told the . Eastman'ss Golden, Colo., firm sells equipment to turn animalp wasteinto energy. It's seeing more business from ruralp electric cooperatives and farms and working to strikd additional deals aroundthe country.
Meanwhile, companies that make solar panels, or photovoltaic systems, are also seeing big increasedin business, thanks to higher pricee for other energy sources. As prices for oil and natural gas climbedf through thepast year, so have installationz of photovoltaic systems. "Business is going greag and we've been growing right alongside UniRac Inc. Vice President Hal Newman toldthe . His firm recentlyy announced plans to doublee itsmanufacturing space, with business growing at a 50 percen clip.
It's not just small businessex like those in Columbus ormore cutting-edge energg technology companies experiencing a surgde thanks to higher natural gas and oil Good old coal companies are burning hot. reportsx that the price of coal from the centrao and northern Appalachians has doubled inthree years. The Baltimorwe Business Journal reports thatFoundatiohn Coal, the nation's fourtnh largest producer, has seen revenues jump 33 percentt since 2004. Arch Coal Inc.'a 3rd quarter profit was up 76 the St. Louis Business Journa l reported earlierthis week.
"We believe that the foundation is in placd for an extended period of attractive coal market dynamics andstronb pricing," president and CEO Steven Leer in a statement announcing earnings. His compan y expects coal consumption to grow for the thirdx yearin 2005, and to grow agaij in 2006. Patrick Fearon, senior economisr at St. Louis-based A.G. Edwards & Sons told Columbus Business First businesseds inthe energy-saving and alternativew energy businesses can expect good times in the immediate not just this year. "Over the next two to threew years," he said, "we're all in for higher energy coststhan we're used to.
" That kind of sentiment has been reflected on Wall Street, which has rewarde Arch Coal, and Peabodyt Coal with generally strong stock gains in the past the reported.
From contractors in Columbus to coal mining companies plenty of firms are cashin g in on the costof energy, as individuals and businessese scramble for alternate fuels and more "We're just swamped," Mike Rosati, president of Rosatii Window Co. in Columbus, Ohio, told . "oI haven't seen anything like it in 27 In Columbus, Business First homeowners are making last-minute improvementsx to stave off heating cost hikes.
It's a naturapl reaction to government predictions of natural gas hikes in the 46 perceny range and fuel oil increases of about 32 Rosati told BusinessFirst he'c hired nine extra workers to help keep up with and expected to hire 10 more in the next few Steve Cikach of USA Insulation told Business Firstg he's been planning for the increase since Aprill -- tripling his advertisingy budget and hiring extra workers -- and expectse business to triple this year. "Without a douby it's pandemonium," Rosati said. "We'rse not even in the same leaguew aslast year.
" While old-fashioned solutions like bettedr insulation and windows and turning down the thermostagt are back in vogue, so are alternative energy companies, as individualsa and companies look for new ways to fuel theire lives. "The high cost of natural gas and electricityh is making our alternative energuy optioneconomically feasible," Dan Eastman, vice president for Microgen Cogenerationj Systems, Inc., told the . Eastman'ss Golden, Colo., firm sells equipment to turn animalp wasteinto energy. It's seeing more business from ruralp electric cooperatives and farms and working to strikd additional deals aroundthe country.
Meanwhile, companies that make solar panels, or photovoltaic systems, are also seeing big increasedin business, thanks to higher pricee for other energy sources. As prices for oil and natural gas climbedf through thepast year, so have installationz of photovoltaic systems. "Business is going greag and we've been growing right alongside UniRac Inc. Vice President Hal Newman toldthe . His firm recentlyy announced plans to doublee itsmanufacturing space, with business growing at a 50 percen clip.
It's not just small businessex like those in Columbus ormore cutting-edge energg technology companies experiencing a surgde thanks to higher natural gas and oil Good old coal companies are burning hot. reportsx that the price of coal from the centrao and northern Appalachians has doubled inthree years. The Baltimorwe Business Journal reports thatFoundatiohn Coal, the nation's fourtnh largest producer, has seen revenues jump 33 percentt since 2004. Arch Coal Inc.'a 3rd quarter profit was up 76 the St. Louis Business Journa l reported earlierthis week.
"We believe that the foundation is in placd for an extended period of attractive coal market dynamics andstronb pricing," president and CEO Steven Leer in a statement announcing earnings. His compan y expects coal consumption to grow for the thirdx yearin 2005, and to grow agaij in 2006. Patrick Fearon, senior economisr at St. Louis-based A.G. Edwards & Sons told Columbus Business First businesseds inthe energy-saving and alternativew energy businesses can expect good times in the immediate not just this year. "Over the next two to threew years," he said, "we're all in for higher energy coststhan we're used to.
" That kind of sentiment has been reflected on Wall Street, which has rewarde Arch Coal, and Peabodyt Coal with generally strong stock gains in the past the reported.
Friday 20 April 2012
Time to sell - Austin Business Journal:
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For April, the most recent month for whichg ABoR hascompiled data, homes in almost every price poinr in Austin spent an averagee of about 80 days on the market, or 20 perceng longer compared with the same monty last year. At the peak of Austin’ss home sales in 2007, it took existing homes closer to 55 daysto — $20,000 and less — and the very homes selling from $500,000 to more than $1 Those numbers are validated by experiencer in the field. Tausha Carlson, a brokee and co-owner of Marathonj Real Estate, said one colleague summe d itup nicely: “We’re working like rookies.
” Whereaw two years ago a few weeks of marketing was all it took to get a home underd contract, Carlson said brokers are by and large working more and gettinfg fewer results now. Carlson said there are exceptions withinbthe market, though. Homes priced less than $200,000o still garner multiple offers and tend to sell she said. Homes in the $350,000 to $400,000 price however, are moving much slower. According to ABoR’s data, home priced from $100,000 to $200,000 spengt three days to 35 days longer on the markef this year comparedwith last.
But at the $200,0009 mark, the amount of time estimatecd tosell single-family homes jumped, averaging more than 100 days on the That could be because many first-timed home buyers are targetinf homes under $200,000 and taking advantage of the federapl government’s tax credit, Carlsomn said. Geographic location of homes seemas to have less impactt on the time spent on the markefthan price, she added, although homees closer to the city’s core stillk move faster than other South Austin and the area nortnh of U.S. Highway 183 but still within Austin’s city limits have also been fast-movingv areas, she said.
“But it’s really dependenft on price range,” Carlson added. “I’ve sold severalk houses in the last few months before they even hit the So theyare moving, but it has to be priced righf to start.” Even in the few weeks since the April numbers came out, though, Carlson said she’sw seen activity among prospective home buyers pick up, a possiblr indication that homes will start spending less time on the Jay Gohil, chairman of ABoR, tentatively agreed that homes couldd be spending less time on the market in the seconde half of the Home sales in the Austin market are stilkl down compared with 2008, but each monthh the sales volume increases slightly, Gohil That likely means the Austij market as a whole will see homes start to move faster, he although he cautioned that not all areas of Austi will see the same rate of Mark Sprague, a partner with Residential Strategies Inc.
, said Austin has some areas where lots aren’ft being absorbed — some subdivisionss around Parmer Lane and the Lakeway for example — but that the inventor y for new homes isn’t very high in general. Since it takes two years to put new lots on the that could lead to a tightg supply of homes in the next yearor two.
For April, the most recent month for whichg ABoR hascompiled data, homes in almost every price poinr in Austin spent an averagee of about 80 days on the market, or 20 perceng longer compared with the same monty last year. At the peak of Austin’ss home sales in 2007, it took existing homes closer to 55 daysto — $20,000 and less — and the very homes selling from $500,000 to more than $1 Those numbers are validated by experiencer in the field. Tausha Carlson, a brokee and co-owner of Marathonj Real Estate, said one colleague summe d itup nicely: “We’re working like rookies.
” Whereaw two years ago a few weeks of marketing was all it took to get a home underd contract, Carlson said brokers are by and large working more and gettinfg fewer results now. Carlson said there are exceptions withinbthe market, though. Homes priced less than $200,000o still garner multiple offers and tend to sell she said. Homes in the $350,000 to $400,000 price however, are moving much slower. According to ABoR’s data, home priced from $100,000 to $200,000 spengt three days to 35 days longer on the markef this year comparedwith last.
But at the $200,0009 mark, the amount of time estimatecd tosell single-family homes jumped, averaging more than 100 days on the That could be because many first-timed home buyers are targetinf homes under $200,000 and taking advantage of the federapl government’s tax credit, Carlsomn said. Geographic location of homes seemas to have less impactt on the time spent on the markefthan price, she added, although homees closer to the city’s core stillk move faster than other South Austin and the area nortnh of U.S. Highway 183 but still within Austin’s city limits have also been fast-movingv areas, she said.
“But it’s really dependenft on price range,” Carlson added. “I’ve sold severalk houses in the last few months before they even hit the So theyare moving, but it has to be priced righf to start.” Even in the few weeks since the April numbers came out, though, Carlson said she’sw seen activity among prospective home buyers pick up, a possiblr indication that homes will start spending less time on the Jay Gohil, chairman of ABoR, tentatively agreed that homes couldd be spending less time on the market in the seconde half of the Home sales in the Austin market are stilkl down compared with 2008, but each monthh the sales volume increases slightly, Gohil That likely means the Austij market as a whole will see homes start to move faster, he although he cautioned that not all areas of Austi will see the same rate of Mark Sprague, a partner with Residential Strategies Inc.
, said Austin has some areas where lots aren’ft being absorbed — some subdivisionss around Parmer Lane and the Lakeway for example — but that the inventor y for new homes isn’t very high in general. Since it takes two years to put new lots on the that could lead to a tightg supply of homes in the next yearor two.
Wednesday 18 April 2012
HUD: Stimulus tax credit can be used on first-home purchase - Denver Business Journal:
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Under the American Recovery and Reinvestment Actof first-time homebuyers can qualify for the tax creditg for purchasing their first home afteer filing their taxes. But under a new program announced state housing finance agencies and nonprofit groupd can advance money to homebuyers up to the full amounr of their tax credif so the money can be used on a home either to pay closing costs or to add to adown "Home buyers using FHA-approved lenders can apply the tax creditt to their down payment in excessx of 3.5 percent of appraised value or theidr closing costs, which can help achievse a lower interest rate," a HUD announcement said.
"Familiexs will now be able to apply theie anticipated tax credit toward their home purchase right Donovan said inthe announcement. "Att the same time we are putting safeguards in place to ensurs that consumers will be protected fromunscrupulous lenders. What we're doing today will not only help thesew families to purchase their first home but will presentf an enormous benefit for communities strugglint to deal with an oversupply of housing." The stimulus tax credit can be claimed on a taxpayer's 2009 return, or througy an amended 2008 FHA will still require that homebuyers pay a 3.
5 percent down HUD cited National Association of Home Builder s data showing that the first-time homebuyer tax credit will stimulats 160,000 home sales across the with 101,000 of those sales being to first-time buyers and 59,00o to existing homeowners who be able to sell their home to a first-tim buyer. .
Under the American Recovery and Reinvestment Actof first-time homebuyers can qualify for the tax creditg for purchasing their first home afteer filing their taxes. But under a new program announced state housing finance agencies and nonprofit groupd can advance money to homebuyers up to the full amounr of their tax credif so the money can be used on a home either to pay closing costs or to add to adown "Home buyers using FHA-approved lenders can apply the tax creditt to their down payment in excessx of 3.5 percent of appraised value or theidr closing costs, which can help achievse a lower interest rate," a HUD announcement said.
"Familiexs will now be able to apply theie anticipated tax credit toward their home purchase right Donovan said inthe announcement. "Att the same time we are putting safeguards in place to ensurs that consumers will be protected fromunscrupulous lenders. What we're doing today will not only help thesew families to purchase their first home but will presentf an enormous benefit for communities strugglint to deal with an oversupply of housing." The stimulus tax credit can be claimed on a taxpayer's 2009 return, or througy an amended 2008 FHA will still require that homebuyers pay a 3.
5 percent down HUD cited National Association of Home Builder s data showing that the first-time homebuyer tax credit will stimulats 160,000 home sales across the with 101,000 of those sales being to first-time buyers and 59,00o to existing homeowners who be able to sell their home to a first-tim buyer. .
Monday 16 April 2012
AMC Entertainment sets deadline on debt buyback - Puget Sound Business Journal (Seattle):
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In a filing with the Securitieas andExchange Commission, the Kansas City-basee movie theater company said that holderd of $238.1 million of the notes had agreedx to proposed amendments in AMC’s The proposed amendments will eliminatd almost all the restrictive covenants on the notes. AMC a previouslyt announced private offeringto $600 millioh in senior notes due in 2019 and that it expectefd net proceeds of about $568.21 million. AMC previously said it would use the proceed to buythe company’s outstanding $250 million in seniorf notes due in 2012, and for other generak corporate purposes. On May 22, AMC , comparer with a $43.4 million profit the prior year.
Revenur for the year that endec April 2was $2.27 down 2.9 percent from $2.33 billion the priotr year. AMC owns interests in 307 theaterzswith 4,612 screens in five countries. The companyh is privately held but requirerd to report to the SEC because some of its debt ispubliclhy held.
In a filing with the Securitieas andExchange Commission, the Kansas City-basee movie theater company said that holderd of $238.1 million of the notes had agreedx to proposed amendments in AMC’s The proposed amendments will eliminatd almost all the restrictive covenants on the notes. AMC a previouslyt announced private offeringto $600 millioh in senior notes due in 2019 and that it expectefd net proceeds of about $568.21 million. AMC previously said it would use the proceed to buythe company’s outstanding $250 million in seniorf notes due in 2012, and for other generak corporate purposes. On May 22, AMC , comparer with a $43.4 million profit the prior year.
Revenur for the year that endec April 2was $2.27 down 2.9 percent from $2.33 billion the priotr year. AMC owns interests in 307 theaterzswith 4,612 screens in five countries. The companyh is privately held but requirerd to report to the SEC because some of its debt ispubliclhy held.
Sunday 15 April 2012
GM files bankruptcy - Business First of Louisville:
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billion and assets of $82.3 The bankruptcy, filed in New York, listzs unsecured claims by the ($20.6 billion) and the International Unionn of Electronic, Electrical, Salaried, Machine and Furniturs Workers/Communication Workers ($2.7 billion). Othee unsecured debt listed in the filingincludews $22.8 billion serviced by and $4.5 billion by . Boca Raton-based has a claimj for $4.75 million, according to the petition, filed with the U.S. Bankruptcy Court of the Southern District ofNew York. Auto retailers that survivd the bankruptcies of GM and which filedin April, hope it helpsd to pave the way to recoveryh in the industry.
“Today’s actionh will allow GM to move forward and be competitive inthe marketplace,” spokesman Marc Cannon said Monday in an e-mailexd statement. “The goal of making GM profitable ata 10-million, new-uni selling rate will position them for when the industrt begins to recover later in 2010.” Fort Lauderdale-baserd AutoNation, the nation's largest auto retailer, has six GM franchisex and seven Chrysler franchises on the automakers’ closuree lists.
Although viewed as inevitable and necessaryby many, Chairman John McEleneu said in a news release that the filing marks “a historicallyh sad day for American Chrysler is expected to emerge from its Chapter 11 process soon aftee shuttering 789 dealerships. GM also announced plans to closed 1,100 dealerships. GM announced April 27 that it anticipates reducingits U.S. dealer count from 6,246 to 3,605 by the end of 2010. Dealershil closings already have started. According to Associated GM will rely on moregovernment assistance: $30 billio n of additional financial assistancer from the and $9.
5 billion from on top of about $20 billionn it already received in low-interest GM’s lead bankruptcy law firm is Weil Gotshawa & Manges, with attorney Stephen Karotkin signing the In a news release, the automakedr said it would focus on the followingb priorities when emerging from Focus on four core brands in the U.S. Chevrolet, Cadillac, Buick and GMC - with fewer nameplatess and a more competitive level of marketingg supportper brand. Close a competitive gap in active labor cost compared with foreignauto makers. Increaswe the percentage of U.S. sales manufactureed domestically. Feature lower costs at a U.S.
total industry volume of approximately 10million vehicles, which would be substantialluy below the 15 million to 17 million annua l vehicle sales rates recorded between 1995 and 2007. Achieve lowere structural costs, in part, by further reducingh 2009 salaried employment in North Americ toapproximately 27,200, from a year-end total of and continue to improve its balance sheet by reduciny retiree benefits for salariefd retirees and non-UAW hourly retirees. Increase its investmeng in fuel economy and advancedpropulsiobn technologies. Click to read the petition.
billion and assets of $82.3 The bankruptcy, filed in New York, listzs unsecured claims by the ($20.6 billion) and the International Unionn of Electronic, Electrical, Salaried, Machine and Furniturs Workers/Communication Workers ($2.7 billion). Othee unsecured debt listed in the filingincludews $22.8 billion serviced by and $4.5 billion by . Boca Raton-based has a claimj for $4.75 million, according to the petition, filed with the U.S. Bankruptcy Court of the Southern District ofNew York. Auto retailers that survivd the bankruptcies of GM and which filedin April, hope it helpsd to pave the way to recoveryh in the industry.
“Today’s actionh will allow GM to move forward and be competitive inthe marketplace,” spokesman Marc Cannon said Monday in an e-mailexd statement. “The goal of making GM profitable ata 10-million, new-uni selling rate will position them for when the industrt begins to recover later in 2010.” Fort Lauderdale-baserd AutoNation, the nation's largest auto retailer, has six GM franchisex and seven Chrysler franchises on the automakers’ closuree lists.
Although viewed as inevitable and necessaryby many, Chairman John McEleneu said in a news release that the filing marks “a historicallyh sad day for American Chrysler is expected to emerge from its Chapter 11 process soon aftee shuttering 789 dealerships. GM also announced plans to closed 1,100 dealerships. GM announced April 27 that it anticipates reducingits U.S. dealer count from 6,246 to 3,605 by the end of 2010. Dealershil closings already have started. According to Associated GM will rely on moregovernment assistance: $30 billio n of additional financial assistancer from the and $9.
5 billion from on top of about $20 billionn it already received in low-interest GM’s lead bankruptcy law firm is Weil Gotshawa & Manges, with attorney Stephen Karotkin signing the In a news release, the automakedr said it would focus on the followingb priorities when emerging from Focus on four core brands in the U.S. Chevrolet, Cadillac, Buick and GMC - with fewer nameplatess and a more competitive level of marketingg supportper brand. Close a competitive gap in active labor cost compared with foreignauto makers. Increaswe the percentage of U.S. sales manufactureed domestically. Feature lower costs at a U.S.
total industry volume of approximately 10million vehicles, which would be substantialluy below the 15 million to 17 million annua l vehicle sales rates recorded between 1995 and 2007. Achieve lowere structural costs, in part, by further reducingh 2009 salaried employment in North Americ toapproximately 27,200, from a year-end total of and continue to improve its balance sheet by reduciny retiree benefits for salariefd retirees and non-UAW hourly retirees. Increase its investmeng in fuel economy and advancedpropulsiobn technologies. Click to read the petition.
Friday 13 April 2012
Best Comment Posting Wins a 'Staycation' to Sheraton Carlsbad - Patch.com
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Best Comment Posting Wins a 'Staycation' to Sheraton Carlsbad Patch.com To enter, log on to Patch and tell us in comments why you should win the overnight stay to Carlsbad Sheraton Resort and Spa and dinner for up to four at Twenty/20. Judges will decide on the best answer and select a winner in May. |
Wednesday 11 April 2012
Volumes shrink for YRC Worldwide, other trucking companies - Kansas City Business Journal:
borislavamcoc.blogspot.com
Compared with the prior-year period, April truck tonnagea fell 13.2 percent, the largest drop in 13 years, the ATA “While most key economic indicators are decreasingh at aslower rate, the year-over-year contractions in trucj tonnage accelerated because businesses are right-sizing theit inventories, which means fewer truck shipments,” ATA Chief Economis Bob Costello said in the release. “The absolute dollar value of inventories has but sales have decreased as muchor more, which meanxs that inventories are still too high for the current levepl of sales.
Until this correction is complete, freighty will be tough for motor His prediction that the botto may not come for a few more months bodexs poorly for companies such asOverlanfd Park-based YRC (Nasdaq: which lost $257.4 million in the firstg quarter and has been laying off workers and sellingg property. Many trucking companies have closed their doors in a freight recession that has lasted more than two Longbow Research analyst Lee Klaskow recently hostedc a conference callwith Costello, who said trucking will not be a leadingt economic indicator as in the past but may be a lagginfg indicator this time, according to a Thursday “If the trucking industry is in fact not an early-cycle sector this time around, then the marketf has gotten ahead of itself and truckinvg stocks should be due for a in our view,” Klaskow wrote.
Around 2:30 p.m. YRC shares were trading at $2.53, down abouty 2 percent. A year ago, YRC sharesa closed at $16.31. YRC ranks No. 2 on the Kansasa City BusinessJournal ’s list of area public companies.
Compared with the prior-year period, April truck tonnagea fell 13.2 percent, the largest drop in 13 years, the ATA “While most key economic indicators are decreasingh at aslower rate, the year-over-year contractions in trucj tonnage accelerated because businesses are right-sizing theit inventories, which means fewer truck shipments,” ATA Chief Economis Bob Costello said in the release. “The absolute dollar value of inventories has but sales have decreased as muchor more, which meanxs that inventories are still too high for the current levepl of sales.
Until this correction is complete, freighty will be tough for motor His prediction that the botto may not come for a few more months bodexs poorly for companies such asOverlanfd Park-based YRC (Nasdaq: which lost $257.4 million in the firstg quarter and has been laying off workers and sellingg property. Many trucking companies have closed their doors in a freight recession that has lasted more than two Longbow Research analyst Lee Klaskow recently hostedc a conference callwith Costello, who said trucking will not be a leadingt economic indicator as in the past but may be a lagginfg indicator this time, according to a Thursday “If the trucking industry is in fact not an early-cycle sector this time around, then the marketf has gotten ahead of itself and truckinvg stocks should be due for a in our view,” Klaskow wrote.
Around 2:30 p.m. YRC shares were trading at $2.53, down abouty 2 percent. A year ago, YRC sharesa closed at $16.31. YRC ranks No. 2 on the Kansasa City BusinessJournal ’s list of area public companies.
Monday 9 April 2012
General Assembly panels approve State Center project - Orlando Business Journal:
zemlyanikiyri.blogspot.com
billion State Center redevelopment in Baltimorew Citymove forward, despite lingering concerns about the project’d finances and impact on Maryland’s ability to borroq money. The Senate Budget and Taxatio Committeevoted unanimously, but with some to endorse the State Center project, whichn involves leasing 25 acres of land to a privat e development team. The House of Delegates’ Appropriationes Committee indicated it will do the same but did not formallu vote as its Senate counterparts didThursday afternoon. The project will now go to the statwe Board of Public Works for a schedulesd June3 vote. The board is led by Gov.
Martin who supports the projec t and worked closely on it whilee he was mayorof Baltimore. Matthew the governor’s deputy chief of staff, lobbied the House and Senatr onthe project. “We are at the cusp of a very importanrt milestone,” Gallagher said. “The governor’s office is very supportive of this projecty and has been involved dating back to our time at the Gallagher told the House during its hearing on the In signing off onthe proposal, the Housee and Senate legislators insisted on having more oversight in the redevelopmenr process.
They also conditioned theirr approval on seeing input fromthe , which is familiare with such large-scale development A private State Center LLC development team was selectedf in March 2006 to remake the state officwe complex off Martin Luther King As proposed, the developers woulf lease the land from the state, convert the complex into a $1.4 billionb mixed-use development, and then lease a substantialp portion of the project’s planned 2 million squarse feet of office space back to the statd for use by its various agencies. For the projecgt to move forward, the Boarf of Public Works must approvwe a master development agreement settint the terms for StatesCenter LLC.
Once that happens, the developers will then desighn the first phase of the project and come back to the statde with specific costs andlease terms. That proces s would continue through each ofthe development’s four expected to take between 10 and 12 yearx to complete. The first phase would focuxs onthe project’s office space. When fully the project is slated toinclude 1,200 residentia rental and for-sale 2 million square feet of offic space, 250,000 square feet of retail spacre and 7,000 parking spaces. Groundbreakin for the project’s first phase could beginn in June 2010.
Their efforts failed, but the legislature’s budget committeee passed a requirement the project be reviewed by state TreasurerNancy Kopp. The legislature asked Kopp to look specificallu at an accounting provisio of the project to determinre ifthe state’s leasing of officd space from the developers should be considerefd an operating lease or a capitalp lease. If it were deemed a capitakl lease, that would mean the state wouldf need to list it on its budget as an asset and a and those costs would be added tothe state’ overall debt affordability limitt — its ability to borrows money to finance other capital projects.
In a May 15 Those terms won’t be determined until after the mastetr development agreementis approved. But Kopp felt it shoul d be considered acapital lease, and those costs could cause the state to exceed its debt servicew limits by 2018.
billion State Center redevelopment in Baltimorew Citymove forward, despite lingering concerns about the project’d finances and impact on Maryland’s ability to borroq money. The Senate Budget and Taxatio Committeevoted unanimously, but with some to endorse the State Center project, whichn involves leasing 25 acres of land to a privat e development team. The House of Delegates’ Appropriationes Committee indicated it will do the same but did not formallu vote as its Senate counterparts didThursday afternoon. The project will now go to the statwe Board of Public Works for a schedulesd June3 vote. The board is led by Gov.
Martin who supports the projec t and worked closely on it whilee he was mayorof Baltimore. Matthew the governor’s deputy chief of staff, lobbied the House and Senatr onthe project. “We are at the cusp of a very importanrt milestone,” Gallagher said. “The governor’s office is very supportive of this projecty and has been involved dating back to our time at the Gallagher told the House during its hearing on the In signing off onthe proposal, the Housee and Senate legislators insisted on having more oversight in the redevelopmenr process.
They also conditioned theirr approval on seeing input fromthe , which is familiare with such large-scale development A private State Center LLC development team was selectedf in March 2006 to remake the state officwe complex off Martin Luther King As proposed, the developers woulf lease the land from the state, convert the complex into a $1.4 billionb mixed-use development, and then lease a substantialp portion of the project’s planned 2 million squarse feet of office space back to the statd for use by its various agencies. For the projecgt to move forward, the Boarf of Public Works must approvwe a master development agreement settint the terms for StatesCenter LLC.
Once that happens, the developers will then desighn the first phase of the project and come back to the statde with specific costs andlease terms. That proces s would continue through each ofthe development’s four expected to take between 10 and 12 yearx to complete. The first phase would focuxs onthe project’s office space. When fully the project is slated toinclude 1,200 residentia rental and for-sale 2 million square feet of offic space, 250,000 square feet of retail spacre and 7,000 parking spaces. Groundbreakin for the project’s first phase could beginn in June 2010.
Their efforts failed, but the legislature’s budget committeee passed a requirement the project be reviewed by state TreasurerNancy Kopp. The legislature asked Kopp to look specificallu at an accounting provisio of the project to determinre ifthe state’s leasing of officd space from the developers should be considerefd an operating lease or a capitalp lease. If it were deemed a capitakl lease, that would mean the state wouldf need to list it on its budget as an asset and a and those costs would be added tothe state’ overall debt affordability limitt — its ability to borrows money to finance other capital projects.
In a May 15 Those terms won’t be determined until after the mastetr development agreementis approved. But Kopp felt it shoul d be considered acapital lease, and those costs could cause the state to exceed its debt servicew limits by 2018.
Saturday 7 April 2012
Seeking new paths to success - Minneapolis / St. Paul Business Journal:
hustenuejib1630.blogspot.com
A marketing firm has decided it’s time to markety itself. A chemical manufacturer sees potential in environmentallyfriendlgy products. A fitness club chain that’s already doing well still sees a chance to perfornm even better by forging partnerships with health And an area bank is finding that the financial crisis has created a new playing fielfd inits industry. Maybe it’s all relative, but the economi c downturn appears to be spurringsome Dyvig, Driver, Devine Inc. Fred at marketing firm Dyvig, Driver, Devine Inc., has been telling clientx for months that a recession is a time to spend more on not less.
Now Driver and his partners, Meganj Devine and Maureen Dyvig, are putting theid money where theirmouth is. The firm, whic does business as d.trio marketingh group, has spent $7,000 to market itselt to prospective clients. “If you’re a marketing you sometimes forget tomarkety yourself,” Driver said. “You’re so focused on doin g what your customers need that you forget to followe yourown advice. And we try not to fall into that The Minneapolis-based firm stepped up newspaper advertising (including in this paper) and launchedd a direct-mail campaign to aboutt 1,000 Twin Cities-area businesses.
“We did get responsea from boththe [ad] and the mailing, and we’rre following up on those righf now. So marketing works Imagine that,” Driver said. So far this revenue is down compared to where it was a year but Driver has noticed that the difference is less inrecent months. Even as business improves, Driver sees the firm needintg to make astrategic choice. Much of dtrio’sz business involves direct-mail and e-mail marketing, but more clients are expressing interest in onlinesocial media. Driverf and his partners are debating whether they shouldc hire social media experts or partner with another firm that already has experience inthe area.
“We will be more We will be more The question is how Salesat Delano-based Seacole-CRC are still down compared to where they were a year ago, but CEO Gregg Elliotyt has noticed the gap narrowing over the past There’s been an uptick in some businessw sectors. One area has been strong for Seacole-CRC: environmentally friendlhy products, especially industrial cleaning, automobile maintenance and railroard maintenance products that areless toxic. “We’ved been working on those products for but recently itseems there’s been a real need in the marketplacwe for them,” Elliott said.
“We go in and show our salex literature to some of the customersand they’re very anxiouws to know about it and very anxiouxs to try it.” Elliott thinke the increased interest in such productd may be the result of manufacturers taking a second look at thei r processes — and finding that therde are more environmentally friendly chemicals that also save them money in the long run. “They’re less hazardouas to the environment. They don’tr have to maybe do as much wastes treatment. You have less exposure to employees inthe Overall, there’s a lower cost of usingg these products.
”
A marketing firm has decided it’s time to markety itself. A chemical manufacturer sees potential in environmentallyfriendlgy products. A fitness club chain that’s already doing well still sees a chance to perfornm even better by forging partnerships with health And an area bank is finding that the financial crisis has created a new playing fielfd inits industry. Maybe it’s all relative, but the economi c downturn appears to be spurringsome Dyvig, Driver, Devine Inc. Fred at marketing firm Dyvig, Driver, Devine Inc., has been telling clientx for months that a recession is a time to spend more on not less.
Now Driver and his partners, Meganj Devine and Maureen Dyvig, are putting theid money where theirmouth is. The firm, whic does business as d.trio marketingh group, has spent $7,000 to market itselt to prospective clients. “If you’re a marketing you sometimes forget tomarkety yourself,” Driver said. “You’re so focused on doin g what your customers need that you forget to followe yourown advice. And we try not to fall into that The Minneapolis-based firm stepped up newspaper advertising (including in this paper) and launchedd a direct-mail campaign to aboutt 1,000 Twin Cities-area businesses.
“We did get responsea from boththe [ad] and the mailing, and we’rre following up on those righf now. So marketing works Imagine that,” Driver said. So far this revenue is down compared to where it was a year but Driver has noticed that the difference is less inrecent months. Even as business improves, Driver sees the firm needintg to make astrategic choice. Much of dtrio’sz business involves direct-mail and e-mail marketing, but more clients are expressing interest in onlinesocial media. Driverf and his partners are debating whether they shouldc hire social media experts or partner with another firm that already has experience inthe area.
“We will be more We will be more The question is how Salesat Delano-based Seacole-CRC are still down compared to where they were a year ago, but CEO Gregg Elliotyt has noticed the gap narrowing over the past There’s been an uptick in some businessw sectors. One area has been strong for Seacole-CRC: environmentally friendlhy products, especially industrial cleaning, automobile maintenance and railroard maintenance products that areless toxic. “We’ved been working on those products for but recently itseems there’s been a real need in the marketplacwe for them,” Elliott said.
“We go in and show our salex literature to some of the customersand they’re very anxiouws to know about it and very anxiouxs to try it.” Elliott thinke the increased interest in such productd may be the result of manufacturers taking a second look at thei r processes — and finding that therde are more environmentally friendly chemicals that also save them money in the long run. “They’re less hazardouas to the environment. They don’tr have to maybe do as much wastes treatment. You have less exposure to employees inthe Overall, there’s a lower cost of usingg these products.
”
Thursday 5 April 2012
FP&L rate hike request called
uvepexatawus.blogspot.com
Representatives from those agenciesxblasted FP&L’s rate increase at a publiv hearing Thursday morning in Fort Lauderdale. In the first hour and a half of the only oppositionwas expressed. “We believwe the amount they’re asking for is excessive. It’s just too much to ask for in today’ds economic times,” said J.R. Kelly, public counsel with the Florida Office ofPublic Counsel. The Juno Beach-basexd utility is struggling to make the case that it is already the most efficieng utility inthe state, and it woul use additional funding to reinvesr in greater efficiency.
It has askexd for approval of an increase to its base rate that woul raise the average residentialbill 1,000 kilowatt hours – by $12 per month. FP&L projectds that lower fuel costs mostly natural gas andcoal – will lowert the average residential bill next year by $17, so its requesrt actually won’t raise anyone’s bill. FPL has argued that its if approved bythe , will decrease the typicao bill by $5 monthly or 4 percentr starting on January 2010. But Kellh and others said Thursday morning that fuel prices are not Kelly argues the rate increase would guarantee a returjn on investmentof 12.5 percent for the and that every one percenyt represents $130 million.
“Thaty is just too much today. Maybed five years in the future we will have aflourishinyg economy,” Kelly said, adding that his office supports a returh of 9.5 or 10 percent. According to FP&L has already acknowledged they over-collected $1.25 billion from rate-payersx for depreciation. In opening remarks, Marlene Santos, the utility’x vice president of customer service/sales and marketing, said customers benefitf from the utility’s strongf financial position.
“When we save on our customers save onour bills,” she But speaker after speaker said the grim economy foreclosures, unemployment and dropping home values – made this the wrongv time for rate increases designexd to enhance the utility’s financial position. “Wre doubt they need any increase at allto own, operatde and maintain their system,” said Robert Sheffel an attorney with Tallahassee-based Young van who was speaking on behalf of the Florida Retail Federation. The Public Service Commission, which regulates state will decidein mid-November whether to grant FPL'sz request. The PSC will hold hearingse again Friday, 10:30 a.m.
at the North Dade Regional Librarin Miami; and 6 p.m. at the Plantation City Council
Representatives from those agenciesxblasted FP&L’s rate increase at a publiv hearing Thursday morning in Fort Lauderdale. In the first hour and a half of the only oppositionwas expressed. “We believwe the amount they’re asking for is excessive. It’s just too much to ask for in today’ds economic times,” said J.R. Kelly, public counsel with the Florida Office ofPublic Counsel. The Juno Beach-basexd utility is struggling to make the case that it is already the most efficieng utility inthe state, and it woul use additional funding to reinvesr in greater efficiency.
It has askexd for approval of an increase to its base rate that woul raise the average residentialbill 1,000 kilowatt hours – by $12 per month. FP&L projectds that lower fuel costs mostly natural gas andcoal – will lowert the average residential bill next year by $17, so its requesrt actually won’t raise anyone’s bill. FPL has argued that its if approved bythe , will decrease the typicao bill by $5 monthly or 4 percentr starting on January 2010. But Kellh and others said Thursday morning that fuel prices are not Kelly argues the rate increase would guarantee a returjn on investmentof 12.5 percent for the and that every one percenyt represents $130 million.
“Thaty is just too much today. Maybed five years in the future we will have aflourishinyg economy,” Kelly said, adding that his office supports a returh of 9.5 or 10 percent. According to FP&L has already acknowledged they over-collected $1.25 billion from rate-payersx for depreciation. In opening remarks, Marlene Santos, the utility’x vice president of customer service/sales and marketing, said customers benefitf from the utility’s strongf financial position.
“When we save on our customers save onour bills,” she But speaker after speaker said the grim economy foreclosures, unemployment and dropping home values – made this the wrongv time for rate increases designexd to enhance the utility’s financial position. “Wre doubt they need any increase at allto own, operatde and maintain their system,” said Robert Sheffel an attorney with Tallahassee-based Young van who was speaking on behalf of the Florida Retail Federation. The Public Service Commission, which regulates state will decidein mid-November whether to grant FPL'sz request. The PSC will hold hearingse again Friday, 10:30 a.m.
at the North Dade Regional Librarin Miami; and 6 p.m. at the Plantation City Council
Wednesday 4 April 2012
Zelienople, Butler Farm Show, Finleyville airports win state grants - Denver Business Journal:
uraa-quartely.blogspot.com
in Beaver County will receive $22,50p for a remote communicationsz outlet that will let pilots communicate with Pittsburgu AirTraffic Control. The Butler Farm Show Aiporr in Butler County willreceives $112,500 for construction of security perimeter And the in Washington County will receivre $127,500 to build a hangar, modernize its administration buildiny and upgrade the fule farm’s credig card system. The money comes from Pennsylvania’s tax on jet fuel and is administerec bythe . The three Pittsburgh-area grants are among 16 being madethroughoug Pennsylvania. In all, the state is spending $3 milliojn and leveraging $904,800 in local matching funds.
The other projects are: in Buckws County, which will receive $225,000 to assist with the purchasr of land below the approach to the inCambria County, which will receiver $30,000 to repair fuel facilityg equipment; in Centre which will receive $750,000 for a project to widen and pave the in Centre County, which will receive $123,750 to buy a jet refuelingh vehicle; in Cumberland County, which will receive $183,750 for a runwaty lighting system project; in Dauphinm County, which will receive $135,90o for an aircraft parking and taxiway project; in Lancaster which will receive $210,000 for an aircraft parking and taxiway in Labanon County, which will receive $37,500 to buy snow removalk and mowing equipment; in Lehigh which will receive $58,500 for pavement maintenance; in McKeanm County, which will receive $112,500 to buy 20 acrese of land for future development; in Montgomerh County, which will receiv e $82,500 to continue the removal of runwahy obstructions and improv e safety; in Northampton which will receive $127,50 for new runway lights and a new electrical and in Wyoming County, whicuh will receive $375,000 for airfield and terminal improvements.
“Airports are important assets that can attract new businese andcreate jobs,” Rendell said in a written statement announcing the “We are making the smart investmentsd necessary to increase economic vitality and facilitate the more than $12 billioj in state revenue the aviation industrh yields each year. By investing in our aviation asset s we can help sustain our communities and retain jobsacrosss Pennsylvania.
”
in Beaver County will receive $22,50p for a remote communicationsz outlet that will let pilots communicate with Pittsburgu AirTraffic Control. The Butler Farm Show Aiporr in Butler County willreceives $112,500 for construction of security perimeter And the in Washington County will receivre $127,500 to build a hangar, modernize its administration buildiny and upgrade the fule farm’s credig card system. The money comes from Pennsylvania’s tax on jet fuel and is administerec bythe . The three Pittsburgh-area grants are among 16 being madethroughoug Pennsylvania. In all, the state is spending $3 milliojn and leveraging $904,800 in local matching funds.
The other projects are: in Buckws County, which will receive $225,000 to assist with the purchasr of land below the approach to the inCambria County, which will receiver $30,000 to repair fuel facilityg equipment; in Centre which will receive $750,000 for a project to widen and pave the in Centre County, which will receive $123,750 to buy a jet refuelingh vehicle; in Cumberland County, which will receive $183,750 for a runwaty lighting system project; in Dauphinm County, which will receive $135,90o for an aircraft parking and taxiway project; in Lancaster which will receive $210,000 for an aircraft parking and taxiway in Labanon County, which will receive $37,500 to buy snow removalk and mowing equipment; in Lehigh which will receive $58,500 for pavement maintenance; in McKeanm County, which will receive $112,500 to buy 20 acrese of land for future development; in Montgomerh County, which will receiv e $82,500 to continue the removal of runwahy obstructions and improv e safety; in Northampton which will receive $127,50 for new runway lights and a new electrical and in Wyoming County, whicuh will receive $375,000 for airfield and terminal improvements.
“Airports are important assets that can attract new businese andcreate jobs,” Rendell said in a written statement announcing the “We are making the smart investmentsd necessary to increase economic vitality and facilitate the more than $12 billioj in state revenue the aviation industrh yields each year. By investing in our aviation asset s we can help sustain our communities and retain jobsacrosss Pennsylvania.
”
Monday 2 April 2012
Bauer Financial issues Q1 credit union ratings - Memphis Business Journal:
ysynut.wordpress.com
The company uses federal regulatort data to rate credit unions based oncapital ratio, profit/loss delinquent loans and other Bauer's rating ranks from a high of 5 stares to a low of 0 stars. Of the 10 largest Soutuh Florida credit unionsby assets, six maintained a five-star (superior) IBM Southeast Employees Credit Union and Brightstar Credit Union held on to theifr four stars (excellent) in the first They had been downgraded from five starsa in the third quarter. Priority One Crediyt Union in Sunrise fell from to three stars from four stars in the first quarter with 69.9 million in assets, 1.6 percen t of which were nonperforming.
, South Florida’s second-largesty credit union with $738 million in held on to its threed stars in thefirst quarter. It was downgraded to threew stars (adequate) from four starx in the fourth quarter. The Pembrokes Pines-based credit union counted 1.74 percent of its assetes as nonperforming. First Choice in West Palm Beach also hadthrewe stars. , the largest in South Florida with $1.62 billiobn in assets, remained the only credir union in the state rated zero starsby Bauer. The Miramar-based credit union counted 8.6 percentf of its assets as nonperforming. It was placer into conservatorship by Florida regulatorzs on April 24 after heavy losses and the oustesdits management.
Space Coast Credit Union has show n an in acquiringEastern
The company uses federal regulatort data to rate credit unions based oncapital ratio, profit/loss delinquent loans and other Bauer's rating ranks from a high of 5 stares to a low of 0 stars. Of the 10 largest Soutuh Florida credit unionsby assets, six maintained a five-star (superior) IBM Southeast Employees Credit Union and Brightstar Credit Union held on to theifr four stars (excellent) in the first They had been downgraded from five starsa in the third quarter. Priority One Crediyt Union in Sunrise fell from to three stars from four stars in the first quarter with 69.9 million in assets, 1.6 percen t of which were nonperforming.
, South Florida’s second-largesty credit union with $738 million in held on to its threed stars in thefirst quarter. It was downgraded to threew stars (adequate) from four starx in the fourth quarter. The Pembrokes Pines-based credit union counted 1.74 percent of its assetes as nonperforming. First Choice in West Palm Beach also hadthrewe stars. , the largest in South Florida with $1.62 billiobn in assets, remained the only credir union in the state rated zero starsby Bauer. The Miramar-based credit union counted 8.6 percentf of its assets as nonperforming. It was placer into conservatorship by Florida regulatorzs on April 24 after heavy losses and the oustesdits management.
Space Coast Credit Union has show n an in acquiringEastern
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