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which filed for Chapter 11 bankruptcy Friday, will closre stores in Texas and Arizona ifit can’t renegotiats cheaper rents with its landlords. The Universituy City-based company operates 15 discounyt shoe stores across the country underthe EJ’s Designer Shoe E&J’s Designer Shoe Outlet and Shoe Cents The company previously was known as Famous Brandd Shoes. “The restructuring will enable EJ Shoes which operatesin Missouri, Texas and Arizona to continue to conduct business in its strongest retail locations while it renegotiates or drops leasex in several others,” the company said in a statemenr e-mailed to the Business Journal.
The company plansd to continue to operate itstwo St. Loui stores, which have recorded recent growth in salesand revenue. The stores are located at 8620Olivew Blvd. and 9109 Watson Road. EJ’s also planw to keep open its Palm Desert, Calif., However, the company may closwe stores in Arizona and the Houston areaif can’y renegotiate cheaper rents. “In business at several stores never fullu rebounded after the hurricanes hit shuttinbg down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishiny numbers of snowbird shoppers who did not returjthis winter,” the company said. EJ’sa already closed a store in Costaa Mesa, Calif.
According to the bankruptcgy filing, the company has assets of betweehn $500,000 and $1 million and liabilitiew of between $10 million and $50 EJ’s, formerly known as Famouw Brand Shoes, to the name in 2007 to St. Louis-based which then renamed its 23 Supermarket of Shoes retaipl stores toFamous Footwear. EJ’s was foundexd in St. Louis in 1972 by Edward Nusrala andhis family. Nusralaa and his family still are the majorityh shareholders inthe company.
Thursday, June 30, 2011
Tuesday, June 28, 2011
GM enters bankruptcy filing - Orlando Business Journal:
qozito.wordpress.com
Monday’s Chapter 11 filing by the 101-year-old automakerd — once the world’s biggest company and Western New York’es largest manufacturing employer for decades is among the largestin U.S. histor y and largest-ever U.S. manufacturing Chapter 11, which allows the company to operate whilre protected fromits creditors, pushex GM into a fast-track bankruptcyh and provides $30 billionn of additional taxpayer funds to restructure General Motors CEO Fritz Henderson said in a preparer statement that GM was being reinvented and that the company is ready for the job at "The economic crisis has caused enormous disruption in the auto but with it has come the opportunity for us to reinventf our business.
We are goinf to do it once and doit right. The court-superviseds process we are pursuing provides us with powerful tools to accelerate and complete our as well as strong safeguards for our customers and our he said. The GM plan as detailed by U.S. officialws would allow a much smaller GM to emerge from courg protection within 60 to 90 GM also plans to closse11 U.S. facilities and idle another threew plants by the endof 2010. GM’s Tonawanda engine where 1,100 people work, will remain open. The automakerr has not provided an updated target for job cuts but was looking toeliminatre 21,000 U.S. factory jobs from the 54,000 unio n members it now employs.
Also not immediatelyh clear iswhat GM’s bankruptcy filing will mean for ’ds plants in Lockport, Rochester and three General Motors plans to take back the facilities from the formef parts subsidiary that it spun off in according to a tentative deal reached last week betweenh GM and the UAW. The factoriex in New York, Michigan and Indiana woulfd operateunder Delphi’s union rules, but be considereed part of GM, once The Lockport plant — Delphi Thermal which has 2,100 employees — was founded as Harrison Radiatoe Co. in 1910 and became part of GM in 1918. For 81 yearw it operated under General Motors ownership until the independent Delphi was formed.
Delphi itself is operating undet bankruptcy court supervision having filed for Chaptef 11 inOctober 2005. The Mich.-based company was ready to emerge from bankruptcy in Aprill 2008 but those plans fell apart when a key investofr dropped out ofa $2.55 billion stockl deal with the supplier. General Motors employw 92,000 in the United States and is indirectlhy responsiblefor 500,000 retirees. The U.S. governmeny would hold a 60 percent financialp interest in a reorganized GM and the UAW woulfd takea 17.5 percent The governments of Canada and the province of Ontariio have agreed to a 12 percentr ownership stake in exchange for financialk aid. GM bondholders would get 10 percent.
Monday’s Chapter 11 filing by the 101-year-old automakerd — once the world’s biggest company and Western New York’es largest manufacturing employer for decades is among the largestin U.S. histor y and largest-ever U.S. manufacturing Chapter 11, which allows the company to operate whilre protected fromits creditors, pushex GM into a fast-track bankruptcyh and provides $30 billionn of additional taxpayer funds to restructure General Motors CEO Fritz Henderson said in a preparer statement that GM was being reinvented and that the company is ready for the job at "The economic crisis has caused enormous disruption in the auto but with it has come the opportunity for us to reinventf our business.
We are goinf to do it once and doit right. The court-superviseds process we are pursuing provides us with powerful tools to accelerate and complete our as well as strong safeguards for our customers and our he said. The GM plan as detailed by U.S. officialws would allow a much smaller GM to emerge from courg protection within 60 to 90 GM also plans to closse11 U.S. facilities and idle another threew plants by the endof 2010. GM’s Tonawanda engine where 1,100 people work, will remain open. The automakerr has not provided an updated target for job cuts but was looking toeliminatre 21,000 U.S. factory jobs from the 54,000 unio n members it now employs.
Also not immediatelyh clear iswhat GM’s bankruptcy filing will mean for ’ds plants in Lockport, Rochester and three General Motors plans to take back the facilities from the formef parts subsidiary that it spun off in according to a tentative deal reached last week betweenh GM and the UAW. The factoriex in New York, Michigan and Indiana woulfd operateunder Delphi’s union rules, but be considereed part of GM, once The Lockport plant — Delphi Thermal which has 2,100 employees — was founded as Harrison Radiatoe Co. in 1910 and became part of GM in 1918. For 81 yearw it operated under General Motors ownership until the independent Delphi was formed.
Delphi itself is operating undet bankruptcy court supervision having filed for Chaptef 11 inOctober 2005. The Mich.-based company was ready to emerge from bankruptcy in Aprill 2008 but those plans fell apart when a key investofr dropped out ofa $2.55 billion stockl deal with the supplier. General Motors employw 92,000 in the United States and is indirectlhy responsiblefor 500,000 retirees. The U.S. governmeny would hold a 60 percent financialp interest in a reorganized GM and the UAW woulfd takea 17.5 percent The governments of Canada and the province of Ontariio have agreed to a 12 percentr ownership stake in exchange for financialk aid. GM bondholders would get 10 percent.
Saturday, June 25, 2011
Small airports making the most of limited improvement dollars - Pittsburgh Business Times:
edibin.wordpress.com
As airport manager and presidentgof , the airport's fixec base operator, Holman plans to add a general aviation air an industrial park, a new administratioh building with a restaurant and additional aviation spacre for corporations. All he needs is the funding tomove Yet, there is a limitec amount of funding available. PennDot'xs Bureau of Aviation receives onlybetween $6 million and $8 million annually for its airport developmentr program. This money, in turn, is doled out to 138 public-user airports in Pennsylvania fordevelopment projects, such as building terminal buildings, runways or taxiways.
Some of it -- abouty 65 percent -- is matched with federalp funds, according to Brian Gearhart, engineeringf manager for PennDot's Bureau of And, it can be difficult for airportx to get funding from sources outsid of the state andfederal government. Although almost every local airport has something goinvon -- ranging from extending runways to coming up with new 20-yeare development plans -- they still are struggling to becomse independent from state and federal according to Sara transportation planning manager at the Downtown-based , the regional planning agency for a 10-countt area in southwestern Pennsylvania.
"Aviation has made a remarkable comebackmsince 2001," she said. "Now, if we could see an economicc upturn and get morebusineszs activity, that would be wonderful. Airports are stilk struggling tobe self-sufficient and come up with new ways to make Airports such as Latrobe-based get most (97.5 percent) of theier funding for capital projects through state and federalk grants. However, the last part is funded throughn a local match that comes from the airport and the This money, as well as the airport's operatinfg expenses, come from services such as landing fuel sales, car rentals and revenue brought in from the airport's restaurant.
The airporft also sometimes issues bonds to get the locak money for thecapitap projects, according to Dwayne Pickels, a spokesmanb for the Westmoreland Count Airport Authority. Butler County Airport and Arnold Palmer are both extending theitr runways to makethem safer. While Arnold Palmedr received $9 million in state, federal and local grants for the Butler County Airport hasreceived $4 At Arnold Palmer, the move will enable the airport to accommodatwe a 757 and better serve its charted aircraft by allowing them to take off with more fuel and according to airport manager Gabe And, Rock Airport of Pittsburgh has receive d $9.3 million in state funding to help pay for a runwau extension.
The airport just opened up its runwayh to traffic at the end of Januarh for the first time sincs it began the project fouryear ago, accordinyg to Rock Ferrone, president of Ferrone is now working to get additionaol funding for the developmeng of Rock Airport and hopes the airporrt will be selected as part of a new federa pilot program designed to pay airports what the valu e of the land would be if it were developedd as something else such as a Wal-Mart.
He plans to raisew $11 million in funding to build ahangar facility, terminapl building, fuel facility and FBO, as well as for additiona l lighting and a ramp Of the $11 million, the state has already committerd $5 million and Ferrone hopesz to get the additional $6 million from the pilotr program. Ferrone expects to find out within the next 90 days whetherf the airport is selected for the If not, he plans to seek out privatse lenders. "We would be the firstf airport in the nation to participatein (this) speciakl pilot program," he "It cures the development rights of privately owned airports.
"
As airport manager and presidentgof , the airport's fixec base operator, Holman plans to add a general aviation air an industrial park, a new administratioh building with a restaurant and additional aviation spacre for corporations. All he needs is the funding tomove Yet, there is a limitec amount of funding available. PennDot'xs Bureau of Aviation receives onlybetween $6 million and $8 million annually for its airport developmentr program. This money, in turn, is doled out to 138 public-user airports in Pennsylvania fordevelopment projects, such as building terminal buildings, runways or taxiways.
Some of it -- abouty 65 percent -- is matched with federalp funds, according to Brian Gearhart, engineeringf manager for PennDot's Bureau of And, it can be difficult for airportx to get funding from sources outsid of the state andfederal government. Although almost every local airport has something goinvon -- ranging from extending runways to coming up with new 20-yeare development plans -- they still are struggling to becomse independent from state and federal according to Sara transportation planning manager at the Downtown-based , the regional planning agency for a 10-countt area in southwestern Pennsylvania.
"Aviation has made a remarkable comebackmsince 2001," she said. "Now, if we could see an economicc upturn and get morebusineszs activity, that would be wonderful. Airports are stilk struggling tobe self-sufficient and come up with new ways to make Airports such as Latrobe-based get most (97.5 percent) of theier funding for capital projects through state and federalk grants. However, the last part is funded throughn a local match that comes from the airport and the This money, as well as the airport's operatinfg expenses, come from services such as landing fuel sales, car rentals and revenue brought in from the airport's restaurant.
The airporft also sometimes issues bonds to get the locak money for thecapitap projects, according to Dwayne Pickels, a spokesmanb for the Westmoreland Count Airport Authority. Butler County Airport and Arnold Palmer are both extending theitr runways to makethem safer. While Arnold Palmedr received $9 million in state, federal and local grants for the Butler County Airport hasreceived $4 At Arnold Palmer, the move will enable the airport to accommodatwe a 757 and better serve its charted aircraft by allowing them to take off with more fuel and according to airport manager Gabe And, Rock Airport of Pittsburgh has receive d $9.3 million in state funding to help pay for a runwau extension.
The airport just opened up its runwayh to traffic at the end of Januarh for the first time sincs it began the project fouryear ago, accordinyg to Rock Ferrone, president of Ferrone is now working to get additionaol funding for the developmeng of Rock Airport and hopes the airporrt will be selected as part of a new federa pilot program designed to pay airports what the valu e of the land would be if it were developedd as something else such as a Wal-Mart.
He plans to raisew $11 million in funding to build ahangar facility, terminapl building, fuel facility and FBO, as well as for additiona l lighting and a ramp Of the $11 million, the state has already committerd $5 million and Ferrone hopesz to get the additional $6 million from the pilotr program. Ferrone expects to find out within the next 90 days whetherf the airport is selected for the If not, he plans to seek out privatse lenders. "We would be the firstf airport in the nation to participatein (this) speciakl pilot program," he "It cures the development rights of privately owned airports.
"
Thursday, June 23, 2011
Should technical science journals have plain language translation? - Washington Post (blog)
dudorovanaapyh.blogspot.com
Should technical science journals have plain language translation? Washington Post (blog) Written by atmospheric scientist Alan Betts, it advocates technical journal articles related to Earth science be complemented by a mandatory non-technical version for the lay public. What a refreshing idea! . . . Given that the future of the Earth ... |
Tuesday, June 21, 2011
Ensuring the Rule of Law in the North - Ceylon Daily News
showarticle-cultura.blogspot.com
Ensuring the Rule of Law in the North Ceylon Daily News The swift measures taken by the state to put things right in the wake of complaints by some TNA MPs that they were set upon in Jaffna recently by persons sporting Army uniforms, should help remove any reservations that the Rule of Law is not being ... |
Saturday, June 18, 2011
Sandwich Isles bids $400M for Hawaiian Telcom - Houston Business Journal:
http://salaunfranke.com/?p=58
, a company founded in 1995 to take advantagw of government subsidies that pay for the installationj of broadband cable in rural said in a court filing last week that it wantds to buy all ofHawaiian Telcom’s assets. The company said it wouldr retain all ofHawaiian Telcom’s 1,400 workers at their current with the exception of senior Sandwich Isles said in the filint that its offer would consist of $250 million in cash plus $150 million in debt issuedr by Hawaiian Telcom.
A deal with Sandwich Isles woulde need the approval of the the Public Utilities Commission and the Federal Communication Hawaiian Telcom said in a statement that it standsz behind its proposedreorganization plan, filedr in June, to reduce the company’s debt by nearlg $790 million, from $1.1 billiobn to $300 million. Hawaiian Telcomm filed a motion seeking an extension to file a Chapte r 11 plan and solicit Judge Lloyd King extended that period toJune 30. The companyt is seeking another extensionto Sept. 30. Sandwich Islea has filed an objectio to thelatest request.
“In the objection, Sandwicjh Isles makes numerous allegations about the progresse Hawaiian Telcom has made to date inthesw cases, Hawaiian Telcom’s decision not to pursuw a sale to Sandwich Isles and the viabilitu of Hawaiian Telcom’s proposedx plan,” Hawaiian Telcom said in a statement. “Ther company disputes these allegations and intendds to respond to Sandwich Islews objection in theappropriate forum.
” Sandwich Isles was foundecd by Al Hee, an entrepreneue who saw opportunity in the generouzs subsidies offered by the federal government to wire rurapl and remote communities in the Working primarily in developments owned by the statde Department of Hawaiian Home Lands, Hee’sw company has received more than $400 million in loansw from the U.S. Department of Agriculturew since 1998. The cost of wirinv the rural developments has been calculated atabou $13,000 per customer. Hawaiian Telcom filed for Chapterf 11 bankruptcyin December. Hawaiian Telcom is owneed by , a Washington, D.C.-baser private equity group. Carlyle boughf the assets of Verizon Hawaii in May 2005for $1.
6 and began operating independently with its own systemws in April 2006.
, a company founded in 1995 to take advantagw of government subsidies that pay for the installationj of broadband cable in rural said in a court filing last week that it wantds to buy all ofHawaiian Telcom’s assets. The company said it wouldr retain all ofHawaiian Telcom’s 1,400 workers at their current with the exception of senior Sandwich Isles said in the filint that its offer would consist of $250 million in cash plus $150 million in debt issuedr by Hawaiian Telcom.
A deal with Sandwich Isles woulde need the approval of the the Public Utilities Commission and the Federal Communication Hawaiian Telcom said in a statement that it standsz behind its proposedreorganization plan, filedr in June, to reduce the company’s debt by nearlg $790 million, from $1.1 billiobn to $300 million. Hawaiian Telcomm filed a motion seeking an extension to file a Chapte r 11 plan and solicit Judge Lloyd King extended that period toJune 30. The companyt is seeking another extensionto Sept. 30. Sandwich Islea has filed an objectio to thelatest request.
“In the objection, Sandwicjh Isles makes numerous allegations about the progresse Hawaiian Telcom has made to date inthesw cases, Hawaiian Telcom’s decision not to pursuw a sale to Sandwich Isles and the viabilitu of Hawaiian Telcom’s proposedx plan,” Hawaiian Telcom said in a statement. “Ther company disputes these allegations and intendds to respond to Sandwich Islews objection in theappropriate forum.
” Sandwich Isles was foundecd by Al Hee, an entrepreneue who saw opportunity in the generouzs subsidies offered by the federal government to wire rurapl and remote communities in the Working primarily in developments owned by the statde Department of Hawaiian Home Lands, Hee’sw company has received more than $400 million in loansw from the U.S. Department of Agriculturew since 1998. The cost of wirinv the rural developments has been calculated atabou $13,000 per customer. Hawaiian Telcom filed for Chapterf 11 bankruptcyin December. Hawaiian Telcom is owneed by , a Washington, D.C.-baser private equity group. Carlyle boughf the assets of Verizon Hawaii in May 2005for $1.
6 and began operating independently with its own systemws in April 2006.
Thursday, June 16, 2011
BlueLinx Announces Record Date for Rights Offering - IEWY News
http://dumbartonhouse.org/restoration.htm
BlueLinx Announces Record Date for Rights Offering IEWY News BlueLinx Holdings Inc. (NYSE:BXC), a leading distributor of building products in North America, announced today that the Company has set the close of trading on the New York Stock Exchange on June 20, 2011 as the record date for its previously ... |
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