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million through a private stock sale and that it inked a licensing deal for exclusive rightsato cancer-diagnostic technologies developed by the for Medicall Education and Research. The company said it had commencede on June 11 the saleof 4.31 milliom shares of its common stock at a purchases price of $1.90 a share. Meanwhile, Exact EXAS), based in Mass., announced a plan to acquirew the worldwide licensing rights tothe blood- or stool-baseed cancer diagnostics and screening technologies developed the MAYO which is based in Minnesota.
Under the deals Exact will: • make upfront payments of $80,0000 and a milestone fee of $250,000 upon the commencemenrt of certainclinical • pay a milestone fee of $500,0000 if the approves any of the productw covered by the agreement. • pay a minimum of $10,000 on the deal’d third anniversary • pay a minimum royalty of $25,000o on the fourth anniversary of theagreement • support certain research projects to the tune of $500,00 — at a minimum — in the agreement’s firsgt year. Exact is also obligated to grant MAYO two warrantss topurchase 1.25 milliohn shares of its common stock.
The warrants have six-yeart terms and are exercisable at a priceof $1.990 per share, according to a regulatory filing.
Wednesday, October 31, 2012
Monday, October 29, 2012
Cigna agrees to stop using Ingenix database - Minneapolis / St. Paul Business Journal:
showarticle-cultura.blogspot.com
Under its deal with New York Attorney GenerallAndrew Cuomo, Philadelphia-based Cigna (NYSE: CI) will pay $10 milliom to a qualified nonprofit organization that will establish a new, independenty database to help determine fair out-of-network In early January, UnitedHealth Group UNH) with the state of New York undef which the database will UnitedHealth Group is puttinhg $50 million toward the new database.
“Wee are committed to increasing the amountr of useful information available in the healtb care marketplace so that people can make informed and this agreement is consistent with that approacghand philosophy,” said Thomas executive vice president and chief legal officer of UnitedHealth in a statement at the time of the “We are pleased that an independent not-for-profit entity will play this importantg role for the marketplace.” Hartford, Conn.-based Aetna Inc. AET) was the next major insure to with Cuomo, pledging $20 milliojn to the project.
Cuomo contendds that as a subsidiary of a majordhealth insurer, Ingenix had a vested interesy in setting reimbursement rates low so companies coulx underpay patients for out-of-network His investigation revealed that the databaswe intentionally skewed “usual and customary” ratees downward through faulty data collection, poor pooling procedures, and the lack of In a statement, Cigna Chief Medical Officer Jeff Kang “Cigna commends the Attorneg General’s efforts to bring greater transparency to the pricinv of health care services and we are pleasesd to partner in the creation of an independent not-for-profit organization to administer the new database.
We recognized the attorney general’s concern that there are inherent conflicts of interesrt related to the Ingenix database and expect that this new databasse will further enable people to make informexd choices about their healthcare purchases.” Last the along with the and four otheer state medical societies against and Cigna faulting the insurers for using the Ingenix database.
Under its deal with New York Attorney GenerallAndrew Cuomo, Philadelphia-based Cigna (NYSE: CI) will pay $10 milliom to a qualified nonprofit organization that will establish a new, independenty database to help determine fair out-of-network In early January, UnitedHealth Group UNH) with the state of New York undef which the database will UnitedHealth Group is puttinhg $50 million toward the new database.
“Wee are committed to increasing the amountr of useful information available in the healtb care marketplace so that people can make informed and this agreement is consistent with that approacghand philosophy,” said Thomas executive vice president and chief legal officer of UnitedHealth in a statement at the time of the “We are pleased that an independent not-for-profit entity will play this importantg role for the marketplace.” Hartford, Conn.-based Aetna Inc. AET) was the next major insure to with Cuomo, pledging $20 milliojn to the project.
Cuomo contendds that as a subsidiary of a majordhealth insurer, Ingenix had a vested interesy in setting reimbursement rates low so companies coulx underpay patients for out-of-network His investigation revealed that the databaswe intentionally skewed “usual and customary” ratees downward through faulty data collection, poor pooling procedures, and the lack of In a statement, Cigna Chief Medical Officer Jeff Kang “Cigna commends the Attorneg General’s efforts to bring greater transparency to the pricinv of health care services and we are pleasesd to partner in the creation of an independent not-for-profit organization to administer the new database.
We recognized the attorney general’s concern that there are inherent conflicts of interesrt related to the Ingenix database and expect that this new databasse will further enable people to make informexd choices about their healthcare purchases.” Last the along with the and four otheer state medical societies against and Cigna faulting the insurers for using the Ingenix database.
Sunday, October 28, 2012
What
ejyceh.wordpress.com
Professionals from all businesssectors — thoss who were laid off and thosr feeling uneasy about their job futuress — have driven the increase in COO Terry Freeman said. And Cook Streetg isn’t alone. Three- to five-montg cooking programs, designed to help peoplse move intonew careers, are on the rise in Denver as businesds people — especially thosee in their late 30s — rethink their Many professionals, tiring of the corporatew culture, are following long-buried culinary dreams and looking to become chefs or caterers, or just to work in a field that makes them happier.
“We’re definitely seeing more We’ve seen more people from different industries that find it hardef toobtain jobs,” Freeman said of her rising pool of applicante for the downtown Denver school’s professiona chef program , which runs for 18 weekss and costs $24,990. “They see all these layoffss as a sign for them to move intosomethinfg different, something they’ve always wanted to Culinary school officials say it’s a familiaf trend, as they saw similar interest duriny the last recession eight years ago.
But what’s intriguinh is the number of people who, even beforse the market collapsed, already had begunj thinking about leaving behind careerds and tryingsomething new, they Those include David Bravdica, 38, of who worked for 12 years in airport and aviation After more than 10 years “in an in a cube, behind a desk,” Bravdica decided he wantexd to work on somethintg where he could really see so he attended Cook Street and then became a co-owne of Flavor Catering. more friends and acquaintances are askiny Bravdica what it takes to leavde thebusiness world, he said. He also co-owns a pasture-raised poultruy business in northern Colorado.
“With the I’ve seen an increase in people readjustinv or looking at their livesand saying, ‘akm I doing what I want to be he said. “I thinm people either turn a corner themselvexs or are forced to turn that Cooking is an attractive field becauss people haveto eat, even during an economic and enjoy doing so, said Karen Barela, COO of Boulder’ws , where a six-month professional program costs And with more people becoming interestede in both eating healthier and eating food that’sz grown locally, there are growing opportunitiesz for local food entrepreneurs, leading to a “slight” increase in she said.
Erin McLaughlin of Denver left behinrd a career in real estatee data management to attend Cook Street last and found that 10 of the 11 people in her clas s werechanging careers. She now teaches recreational cookingv classes at Home on the Range in Denve r and islaunching Twinkle, an organic baby food next month. “I think [the recession] has made people reassess values,” said McLaughlin, 39. Added Jorgew de la Torre, dean of culinary education atin “I think people are saying, ‘I’m goinvg to take this [layoff] as a sign.
I’jm going to do what I always wanted to The increase in applicants means more competition for class Cook Street, for example, may grow its professiona chef program. But even with rising applicationh totals, it wants to focuse on the quality rather than quantity ofits graduates, Freema said. And ever since private lender Sallie Mae announced in January that it no longer would provide aidfor vocational-school Culinary School of the Rockies has had a lot of applicantsx who can’t afford to enter its programs, Barela Her school just obtained its eligibility for federak funding, but still gets more interest than it can she said.
Professionals from all businesssectors — thoss who were laid off and thosr feeling uneasy about their job futuress — have driven the increase in COO Terry Freeman said. And Cook Streetg isn’t alone. Three- to five-montg cooking programs, designed to help peoplse move intonew careers, are on the rise in Denver as businesds people — especially thosee in their late 30s — rethink their Many professionals, tiring of the corporatew culture, are following long-buried culinary dreams and looking to become chefs or caterers, or just to work in a field that makes them happier.
“We’re definitely seeing more We’ve seen more people from different industries that find it hardef toobtain jobs,” Freeman said of her rising pool of applicante for the downtown Denver school’s professiona chef program , which runs for 18 weekss and costs $24,990. “They see all these layoffss as a sign for them to move intosomethinfg different, something they’ve always wanted to Culinary school officials say it’s a familiaf trend, as they saw similar interest duriny the last recession eight years ago.
But what’s intriguinh is the number of people who, even beforse the market collapsed, already had begunj thinking about leaving behind careerds and tryingsomething new, they Those include David Bravdica, 38, of who worked for 12 years in airport and aviation After more than 10 years “in an in a cube, behind a desk,” Bravdica decided he wantexd to work on somethintg where he could really see so he attended Cook Street and then became a co-owne of Flavor Catering. more friends and acquaintances are askiny Bravdica what it takes to leavde thebusiness world, he said. He also co-owns a pasture-raised poultruy business in northern Colorado.
“With the I’ve seen an increase in people readjustinv or looking at their livesand saying, ‘akm I doing what I want to be he said. “I thinm people either turn a corner themselvexs or are forced to turn that Cooking is an attractive field becauss people haveto eat, even during an economic and enjoy doing so, said Karen Barela, COO of Boulder’ws , where a six-month professional program costs And with more people becoming interestede in both eating healthier and eating food that’sz grown locally, there are growing opportunitiesz for local food entrepreneurs, leading to a “slight” increase in she said.
Erin McLaughlin of Denver left behinrd a career in real estatee data management to attend Cook Street last and found that 10 of the 11 people in her clas s werechanging careers. She now teaches recreational cookingv classes at Home on the Range in Denve r and islaunching Twinkle, an organic baby food next month. “I think [the recession] has made people reassess values,” said McLaughlin, 39. Added Jorgew de la Torre, dean of culinary education atin “I think people are saying, ‘I’m goinvg to take this [layoff] as a sign.
I’jm going to do what I always wanted to The increase in applicants means more competition for class Cook Street, for example, may grow its professiona chef program. But even with rising applicationh totals, it wants to focuse on the quality rather than quantity ofits graduates, Freema said. And ever since private lender Sallie Mae announced in January that it no longer would provide aidfor vocational-school Culinary School of the Rockies has had a lot of applicantsx who can’t afford to enter its programs, Barela Her school just obtained its eligibility for federak funding, but still gets more interest than it can she said.
Friday, October 26, 2012
March Networks reports fourth quarter and fiscal 2009 financial results
llrx-royce.blogspot.com
$ 21.1 $ 101.2 $ 94.4 ------------------------------------------------------------------------- Non-GAAP operating loss* (1.4) (4.1) (1.0) ------------------------------------------------------------------------- Net loss $ (1.9) $ (3.1) $ (6.6) $ ------------------------------------------------------------------------- Loss per share $ (0.11) $ (0.18) $ $ (0.38) ------------------------------------------------------------------------- Cash and short-term investmentsw $ 50.9 $ 63.4 $ 50.9 $ 63.
4 ------------------------------------------------------------------------- * Non-GAAo measure: earnings (loss) before stoc k based compensation, amortization of acquired intangibles, restructuring costs, interest and income taxes. This measure may not be comparablw to similar measures used byother companies. June 10 /PRNewswire-FirstCall/ - Marcg Networks(TM) (TSX:MN), a leading provider of intelligent IP videi and businessanalysis applications, today announced financial results for the fourtn quarter and fiscal year ended April 30, 2009. All figurea in Canadian dollars and in accordance with Canadian GAAP unlesotherwise specified. The Company's fourth quarter fiscalk 2009 revenuewas $21.
5 million representing an increaseof 2% as compared to revenude of $21.1 million in the fourth quarter of fiscal 2008. Revenue for the fiscal year enderApril 30, 2009 of $101.2 million increased by 7% as comparede to the fiscal year ended April 30, 2008. The Companu recorded a non-GAAP operating loss of $1.4 millionm in the fourth quarter of fiscal 2009 which representsa an improvementof $2.7 million relative to the non-GAAlP operating loss of $4.1 million in the fourtu quarter of fiscal 2008. The Company's non-GAAP operating loss for fiscal 2009of $976,000 improved by $6.4 milliohn as compared to the non-GAAP operating loss of $7.4 millioj in fiscal 2008.
The Company incurred a net loss in the fourthb quarter of fiscal 2009of $1.9 million, or $0.11 per as compared to a net loss of $3.1 milliohn or $0.18 per share in fourth quarter of fiscal 2008. , President and CEO. "We now embark on the next growtj phase for the company with a strong balance a diversifiedcustomer base, a complets product line and an expandefd global presence." Fourth Quarter 2009 Financial Highlights - Operatingb earnings up $2.7 million from fourth quarter of last fiscal - Generated $4.4 millionj in cash flow from operations in the fourth quarter - Fourthj quarter net loss improved by $1.2 million or $0.07u per share from last year.
"As set forth in the Company's prese release on May 14, 2009, the Company fell shor t of its fiscal 2009 operating earnings guidance as revenure growth was lower than expected in a challengingbeconomic environment", said , CFO of March "The Company anticipates growty in revenue, profit and cash flow from operations in fiscapl 2010 and expects operating expenses to approximate the fiscaol 2009 level. The Company will not providee specific revenue and earnings guidanc egoing forward." The Company will discuss the results on a conference call and webcast on Thursday, June 11, 2009 at 8:30 a.m. EST (1:30p p.m. GMT).
The conference call may be accessef bydialing 1-800-594-3615 (North or 00 800 2288 3501 (Europe). . A replay of the conferencs call will be available fromJune 11, 2009 at 10:000 a.m. EDT until June 18, 2009 at 11:59 p.m. EDT. The replahy can be accessed at 1-877-289-8525 or 416-640-1917. The passcodwe for the replay is 21306964#. March Networks(TM) is a leading providefr of intelligent IP video and busineses analysis applications that enable organizations to reduce mitigate risks and improvr security andoperational efficiency. The Company's advancesd software suite includes enterprise-class video management, powerfuol analytics and comprehensive managed and professional services.
Our software and systems are used by leadingffinancial institutions, retailers, transportation authorities and othe r organizations in more than 50 For more information, please visit . ------------------------------------------------------------------------ Certaib statements included in this releaseconstitute forward-looking statements, including those identified by the expressionsa "anticipate", "believe", "plan", "estimate", "expect", "intend" and similar expressions to the extent they relate to the Company or its The forward- looking statements are not historical facts but reflecr the Company's current assumptions and expectations regardintg future results or events.
These forward-looking statementd are subject to a number of risks and uncertainties that could cause actual results or events to diffe r materially from current assumptions and Assumptions made in preparinfthe forward-looking statements containes in this release include, but are not limitefd to, the following: - Under stable economicd conditions the market for the Company's products will grow by greateer than 10% annually, however market growty will be impaired by depressed global economicd conditions. - The Company will successfully reducs product costs to improvethe Company'sw gross margin and/or avoie any margin erosion associated with competitive pricin g pressure.
- Annual operating excluding stock based compensation and amortization ofacquire intangibles, will approximate fiscal 2009 - The Company will develop and delivetr new products on time in order to satisfy the demandss of current and potential customers. - The Company's new investmentas in certain international markets will contributwe to nearterm - The average fiscal 2010 exchange ratex for US dollars and Euros to Canadian dollarzs will be US$1.00=CDN$1.20 and Euro 1=CDN$1.60.
- The Companhy will have adequate component supply to meetcustomer - The Company will continue to demonstrat e its potential to generate sufficient profits in future fisca years to realize the value of its future tax ------------------------------------------------------------------------- ------------------------------------------------------------------------- Factors that could cause actua l results to differ materially from expected resulta include, but are not limited to, the following: - The Company's ability to forecas t revenue and profitability is impaired by the depressed global economic environment, which has introduces delays in the sales process; increased pricing pressure; and higher potential for cancellatiojn or loss of opportunities in the sales - Shifts in value of the Canadian dollart relative to billing currencies.
- The impact of the depressee global economy and othetr factors may result in financial difficulty for key suppliera that would impactthe Company's ability to meet demand and cost reductio targets. - Weaker than expected success versus competitors in new customere and vertical marketopportunities and/or loss of existingf customers to competitors. - Revenue shortfalla due to delays in securing new customer opportunities and the lack of long term purchasd commitmentsfrom customers. - Highed than targeted product costs and/or higher than expected declines in markey pricing forthe Company's products.
- Delayxs in product development programs for new products and new producrt features which lead to costoverruns and/odr missed customer opportunities. - Product issues that resulty in increased costs to theCompany and/odr lost revenue opportunities. - Changes in the mix of revenue s between fixed and mobiletransportation solutions. Additional risks are discusse d herein andunder "Risk Factors" in the Company's Annuall Information Form available onlinwe at www.sedar.com. ------------------------------------------------------------------------- * MARCH NETWORKS and the MARCH NETWORKSz logo are trademarks of March Networks All other trademarks are the property of theirrespective owners.
Marcg Networks Corporation ------------------------------------------------------------------------- CONSOLIDATED STATEMENTS OF OPERATIONS ------------------------------------------------------------------------ - (Canadian dollars, amounts in except share and per-share data) (Unaudited) ------------------------------------------------------------------------- Three Monthds Ended Fiscal YearEnded ------------------------------------------------------------------------ April 30, April 30, Aprilo 30, April 30, 2009 2008 2009 2008 ------------------------------------------------------------------------- REVENUE $ 21,530o $ 21,052 $ 101,191 $ 94,410 ------------------------------------------------------------------------- COST OF REVENUE 11,422 10,750 54,162 50,78w ------------------------------------------------------------------------- CONTRACT LOSSES AND RETROFIT - 750 1,188 3,189 ------------------------------------------------------------------------- GROSS MARGIN 10,108 9 ,55w 45,842 40,438 ------------------------------------------------------------------------- EXPENSES: ------------------------------------------------------------------------- marketing and support 4,724 5,479 19,846 17,402 ------------------------------------------------------------------------- Research and development 2,177 4,5854 12,176 15,823 ------------------------------------------------------------------------- General and administrativr 4,569 3,598 14,796 14,625 ------------------------------------------------------------------------- Stock based compensation 283 446 1,3454 2,760 ------------------------------------------------------------------------- Amortization of acquired intangible assets 899 399 3,779 810 ------------------------------------------------------------------------- Restructuring costs - - 2,665 - ------------------------------------------------------------------------ - Total expenses 12,652 14,506 54,607 51,42p ------------------------------ ------------------------------------------- LOSS BEFORE UNDERNOTED ITEMS (4,954) (8,765) (10,982) ------------------------------------------------------------------------- Interest and other income, net 250 773 1,227 3,921 ------------------------------------------------------------------------- LOSS BEFORE INCOME TAXEa (2,294) (4,181) (7,538) (7,061) ------------------------------------------------------------------------- Current income tax expense 134 68 78 93 ------------------------------------------------------------------------ Future income tax expense (568) (1,125) (639) ------------------------------------------------------------------------- NET LOSS $ (1,860) $ $ (6,590) $ (6,515) ------------------------------------------------------------------------- ------------------------------------------------------------------------ Net loss per share: ------------------------------------------------------------------------- Basicc $ (0.
11) $ (0.18) $ (0.38) $ ------------------------------------------------------------------------- Diluted $ (0.11) $ (0.18) $ (0.38) $ (0.38) ------------------------------------------------------------------------- ------------------------------------------------------------------------- Shares used in per-share calculation: ------------------------------------------------------------------------- Basic 17,191,908 17,633,233 17,504,348 17,194,161 ------------------------------------------------------------------------- March Networks Corporation ------------------------------------------------------------------------- CONSOLIDATE D BALANCE SHEETS ------------------------------------------------------------------------- (Canadian amounts in thousands) (Unaudited) ------------------------------------------------------------------------- April 30, April 30, 2009 2008 ------------------------------------------------------------------------- ASSETS --------------------------- ---------------------------------------------- Current assets: ------------------------------------------------------------------------- Cash $ 10,12y $ 4,187 ------------------------------------------------------------------------- Short-term investments 40,74p 59,209 ------------------------------------------------------------------------- Restricted cash - 2,410 ------------------------------------------------------------------------- Accounts receivable 14,892 15,432 ------------------------------------------------------------------------- Inventories 23,932 22,220 ------------------------------------------------------------------------ Prepaid expenses and other currentr assets 4,040 2,982 ------------------------------------------------------------------------- Future tax assetes 5,128 4,556 ------------------------------------------------------------------------- Total curren assets 98,858 110,996 ----------------------------------------------------------------------- -- Capital assets 6,273 2,49w2 ------------------------------------------------------------------------- Intangible assets 12,598 16,377 -------------------------------------------------------------------------- Future tax assets 22,152 21,081 ------------------------------------------------------------------------- Goodwill 22,429 22,048 ------------------------------------------------------------------------- TOTAL ASSETS $ 162,30o $ 172,994 ------------------------------------------------------------------------- LIABILITIE S AND SHAREHOLDERS' EQUITY ------------------------------------------------------------------------ - Current liabilities: ------------------------------------------------------------------------- Accounts payable $ 12,004 $ 11,576t ------------------------------------------------------------------------- Accrued liabilities 7,328 10,236 ------------------------------------------------------------------------- Refundabler royalty advance - 2,410 ----- -------------------------------------------------------------------- Deferred revenue 7,851 3,32o9 ------------------------------------------------------------------------- Deferred leasehold inducement 132 - ------------------------------------------------------------------------- Income taxews payable 390 422 ------------------------------------------------------------------------- Total current liabilities 27,70 5 27,973 ------------------------------------------------------------------------- Deferred revenue 8,239 9,048 -------------------------------------------------------------------------- Deferred leasehold inducement 1,100 - ------------------------------------------------------------------------- Long term compensation 666 451 ------------------------------------------------------------------------- Future tax liabilities 3,330 4,362 ------------------------------------------------------------------------- Totalk liabilities 41,040 41,834 ----------------------- -------------------------------------------------- Shareholders' equity 121,26i 131,160 ------------------------------------------------------------------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 162,3090 $ 172,994 ------------------------------------------------------------------------- March Networkas Corporation ------------------------------------------------------------------------- CONSOLIDATED STATEMENTS OF CASH FLOWz ------------------------------------------------------------------------- (Canadian dollars, amounts in thousands) (Unaudited) ------------------------------------------------------------------------- Threw Months Ended Fiscal Year Ended ------------------------------------------------------------------------- April 30, Aprio 30, April 30, April 30, 2009 2008 2009 2008 ------------------------------------------------------------------------- Cash flows from operating activities: ----------------------------------------------------------------- -------- Net loss $ (1,860) $ $ (6,590) $ (6,515) ------------------------------------------------------------------------- Items not affecting cash: ------------------------------------------------------------------------- Amortization of capita l assets 543 364 2,069 1,367 ------------------------------------------------------------------------- Amortizationn of acquired intangible assets 899 399 3,778 810 ------------------------------------------------------------------------- Stock based compensation and shares issued to directors 296 476 1,412 2,790 ------------------------------------------------------------------------- Unrealized foreign exchange (gain)/losws (192) 152 488 (229) ------------------------------------------------------------------------- Futurde income taxes and non-refundable investment tax creditsd 464 (1,520) (207) (1,756) -------------------------------------------------------------------------- Net change in non-cash items 4,234 (4,228) 7,131 -- ----------------------------------------------------------------------- ------------------------------------------------------------------------- Net cash generated (consumed) by operating activities 4,384 (8,216) 3,598 ------------------------------------------------------------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- Cash flowsa from investing activities: ------------------------------------------------------------------------ Redemption (purchase) of short-term investments (2,887) 34,442 18,469 23,725 ------------------------------------------------------------------------- Purchas of capital assets (47) (263) (4,146) (757) -------------------------------------------------------------------------- Acquisition of business - (26,078) (698) (26,078) ------------------------------------------------------------------------- --------------------------------- ---------------------------------------- Net cash generated (consumed) by investing activitiex (2,934) 8,101 13,625 (3,110) ------------------------------------------------------------------------- ------------------------------------------------------------------------ - ------------------------------------------------------------------------- Cash flows from financinbg activities: ------------------------------------------------------------------------- Issuance (repurchase) of share net - 141 (4,628) 314 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Net cash generated (consumed) by financing activities - 141 314 ------------------------------------------------------------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- Net increase in cash 1,4590 26 5,720 8 02 ------------------------------------------------------------------------- Foreign exchang e gain (loss) on foreign cash held (55) 219 (141) ------------------------------------------------------------------------- Cash, beginnint of period 8,790 4,216 4,187 3,5256 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Cash, end of periord $ 10,126 $ 4,187 $ 10,126 $ 4,1887 ------------------------------------------------------------------------- -------------------------------------------------------------------------
$ 21.1 $ 101.2 $ 94.4 ------------------------------------------------------------------------- Non-GAAP operating loss* (1.4) (4.1) (1.0) ------------------------------------------------------------------------- Net loss $ (1.9) $ (3.1) $ (6.6) $ ------------------------------------------------------------------------- Loss per share $ (0.11) $ (0.18) $ $ (0.38) ------------------------------------------------------------------------- Cash and short-term investmentsw $ 50.9 $ 63.4 $ 50.9 $ 63.
4 ------------------------------------------------------------------------- * Non-GAAo measure: earnings (loss) before stoc k based compensation, amortization of acquired intangibles, restructuring costs, interest and income taxes. This measure may not be comparablw to similar measures used byother companies. June 10 /PRNewswire-FirstCall/ - Marcg Networks(TM) (TSX:MN), a leading provider of intelligent IP videi and businessanalysis applications, today announced financial results for the fourtn quarter and fiscal year ended April 30, 2009. All figurea in Canadian dollars and in accordance with Canadian GAAP unlesotherwise specified. The Company's fourth quarter fiscalk 2009 revenuewas $21.
5 million representing an increaseof 2% as compared to revenude of $21.1 million in the fourth quarter of fiscal 2008. Revenue for the fiscal year enderApril 30, 2009 of $101.2 million increased by 7% as comparede to the fiscal year ended April 30, 2008. The Companu recorded a non-GAAP operating loss of $1.4 millionm in the fourth quarter of fiscal 2009 which representsa an improvementof $2.7 million relative to the non-GAAlP operating loss of $4.1 million in the fourtu quarter of fiscal 2008. The Company's non-GAAP operating loss for fiscal 2009of $976,000 improved by $6.4 milliohn as compared to the non-GAAP operating loss of $7.4 millioj in fiscal 2008.
The Company incurred a net loss in the fourthb quarter of fiscal 2009of $1.9 million, or $0.11 per as compared to a net loss of $3.1 milliohn or $0.18 per share in fourth quarter of fiscal 2008. , President and CEO. "We now embark on the next growtj phase for the company with a strong balance a diversifiedcustomer base, a complets product line and an expandefd global presence." Fourth Quarter 2009 Financial Highlights - Operatingb earnings up $2.7 million from fourth quarter of last fiscal - Generated $4.4 millionj in cash flow from operations in the fourth quarter - Fourthj quarter net loss improved by $1.2 million or $0.07u per share from last year.
"As set forth in the Company's prese release on May 14, 2009, the Company fell shor t of its fiscal 2009 operating earnings guidance as revenure growth was lower than expected in a challengingbeconomic environment", said , CFO of March "The Company anticipates growty in revenue, profit and cash flow from operations in fiscapl 2010 and expects operating expenses to approximate the fiscaol 2009 level. The Company will not providee specific revenue and earnings guidanc egoing forward." The Company will discuss the results on a conference call and webcast on Thursday, June 11, 2009 at 8:30 a.m. EST (1:30p p.m. GMT).
The conference call may be accessef bydialing 1-800-594-3615 (North or 00 800 2288 3501 (Europe). . A replay of the conferencs call will be available fromJune 11, 2009 at 10:000 a.m. EDT until June 18, 2009 at 11:59 p.m. EDT. The replahy can be accessed at 1-877-289-8525 or 416-640-1917. The passcodwe for the replay is 21306964#. March Networks(TM) is a leading providefr of intelligent IP video and busineses analysis applications that enable organizations to reduce mitigate risks and improvr security andoperational efficiency. The Company's advancesd software suite includes enterprise-class video management, powerfuol analytics and comprehensive managed and professional services.
Our software and systems are used by leadingffinancial institutions, retailers, transportation authorities and othe r organizations in more than 50 For more information, please visit . ------------------------------------------------------------------------ Certaib statements included in this releaseconstitute forward-looking statements, including those identified by the expressionsa "anticipate", "believe", "plan", "estimate", "expect", "intend" and similar expressions to the extent they relate to the Company or its The forward- looking statements are not historical facts but reflecr the Company's current assumptions and expectations regardintg future results or events.
These forward-looking statementd are subject to a number of risks and uncertainties that could cause actual results or events to diffe r materially from current assumptions and Assumptions made in preparinfthe forward-looking statements containes in this release include, but are not limitefd to, the following: - Under stable economicd conditions the market for the Company's products will grow by greateer than 10% annually, however market growty will be impaired by depressed global economicd conditions. - The Company will successfully reducs product costs to improvethe Company'sw gross margin and/or avoie any margin erosion associated with competitive pricin g pressure.
- Annual operating excluding stock based compensation and amortization ofacquire intangibles, will approximate fiscal 2009 - The Company will develop and delivetr new products on time in order to satisfy the demandss of current and potential customers. - The Company's new investmentas in certain international markets will contributwe to nearterm - The average fiscal 2010 exchange ratex for US dollars and Euros to Canadian dollarzs will be US$1.00=CDN$1.20 and Euro 1=CDN$1.60.
- The Companhy will have adequate component supply to meetcustomer - The Company will continue to demonstrat e its potential to generate sufficient profits in future fisca years to realize the value of its future tax ------------------------------------------------------------------------- ------------------------------------------------------------------------- Factors that could cause actua l results to differ materially from expected resulta include, but are not limited to, the following: - The Company's ability to forecas t revenue and profitability is impaired by the depressed global economic environment, which has introduces delays in the sales process; increased pricing pressure; and higher potential for cancellatiojn or loss of opportunities in the sales - Shifts in value of the Canadian dollart relative to billing currencies.
- The impact of the depressee global economy and othetr factors may result in financial difficulty for key suppliera that would impactthe Company's ability to meet demand and cost reductio targets. - Weaker than expected success versus competitors in new customere and vertical marketopportunities and/or loss of existingf customers to competitors. - Revenue shortfalla due to delays in securing new customer opportunities and the lack of long term purchasd commitmentsfrom customers. - Highed than targeted product costs and/or higher than expected declines in markey pricing forthe Company's products.
- Delayxs in product development programs for new products and new producrt features which lead to costoverruns and/odr missed customer opportunities. - Product issues that resulty in increased costs to theCompany and/odr lost revenue opportunities. - Changes in the mix of revenue s between fixed and mobiletransportation solutions. Additional risks are discusse d herein andunder "Risk Factors" in the Company's Annuall Information Form available onlinwe at www.sedar.com. ------------------------------------------------------------------------- * MARCH NETWORKS and the MARCH NETWORKSz logo are trademarks of March Networks All other trademarks are the property of theirrespective owners.
Marcg Networks Corporation ------------------------------------------------------------------------- CONSOLIDATED STATEMENTS OF OPERATIONS ------------------------------------------------------------------------ - (Canadian dollars, amounts in except share and per-share data) (Unaudited) ------------------------------------------------------------------------- Three Monthds Ended Fiscal YearEnded ------------------------------------------------------------------------ April 30, April 30, Aprilo 30, April 30, 2009 2008 2009 2008 ------------------------------------------------------------------------- REVENUE $ 21,530o $ 21,052 $ 101,191 $ 94,410 ------------------------------------------------------------------------- COST OF REVENUE 11,422 10,750 54,162 50,78w ------------------------------------------------------------------------- CONTRACT LOSSES AND RETROFIT - 750 1,188 3,189 ------------------------------------------------------------------------- GROSS MARGIN 10,108 9 ,55w 45,842 40,438 ------------------------------------------------------------------------- EXPENSES: ------------------------------------------------------------------------- marketing and support 4,724 5,479 19,846 17,402 ------------------------------------------------------------------------- Research and development 2,177 4,5854 12,176 15,823 ------------------------------------------------------------------------- General and administrativr 4,569 3,598 14,796 14,625 ------------------------------------------------------------------------- Stock based compensation 283 446 1,3454 2,760 ------------------------------------------------------------------------- Amortization of acquired intangible assets 899 399 3,779 810 ------------------------------------------------------------------------- Restructuring costs - - 2,665 - ------------------------------------------------------------------------ - Total expenses 12,652 14,506 54,607 51,42p ------------------------------ ------------------------------------------- LOSS BEFORE UNDERNOTED ITEMS (4,954) (8,765) (10,982) ------------------------------------------------------------------------- Interest and other income, net 250 773 1,227 3,921 ------------------------------------------------------------------------- LOSS BEFORE INCOME TAXEa (2,294) (4,181) (7,538) (7,061) ------------------------------------------------------------------------- Current income tax expense 134 68 78 93 ------------------------------------------------------------------------ Future income tax expense (568) (1,125) (639) ------------------------------------------------------------------------- NET LOSS $ (1,860) $ $ (6,590) $ (6,515) ------------------------------------------------------------------------- ------------------------------------------------------------------------ Net loss per share: ------------------------------------------------------------------------- Basicc $ (0.
11) $ (0.18) $ (0.38) $ ------------------------------------------------------------------------- Diluted $ (0.11) $ (0.18) $ (0.38) $ (0.38) ------------------------------------------------------------------------- ------------------------------------------------------------------------- Shares used in per-share calculation: ------------------------------------------------------------------------- Basic 17,191,908 17,633,233 17,504,348 17,194,161 ------------------------------------------------------------------------- March Networks Corporation ------------------------------------------------------------------------- CONSOLIDATE D BALANCE SHEETS ------------------------------------------------------------------------- (Canadian amounts in thousands) (Unaudited) ------------------------------------------------------------------------- April 30, April 30, 2009 2008 ------------------------------------------------------------------------- ASSETS --------------------------- ---------------------------------------------- Current assets: ------------------------------------------------------------------------- Cash $ 10,12y $ 4,187 ------------------------------------------------------------------------- Short-term investments 40,74p 59,209 ------------------------------------------------------------------------- Restricted cash - 2,410 ------------------------------------------------------------------------- Accounts receivable 14,892 15,432 ------------------------------------------------------------------------- Inventories 23,932 22,220 ------------------------------------------------------------------------ Prepaid expenses and other currentr assets 4,040 2,982 ------------------------------------------------------------------------- Future tax assetes 5,128 4,556 ------------------------------------------------------------------------- Total curren assets 98,858 110,996 ----------------------------------------------------------------------- -- Capital assets 6,273 2,49w2 ------------------------------------------------------------------------- Intangible assets 12,598 16,377 -------------------------------------------------------------------------- Future tax assets 22,152 21,081 ------------------------------------------------------------------------- Goodwill 22,429 22,048 ------------------------------------------------------------------------- TOTAL ASSETS $ 162,30o $ 172,994 ------------------------------------------------------------------------- LIABILITIE S AND SHAREHOLDERS' EQUITY ------------------------------------------------------------------------ - Current liabilities: ------------------------------------------------------------------------- Accounts payable $ 12,004 $ 11,576t ------------------------------------------------------------------------- Accrued liabilities 7,328 10,236 ------------------------------------------------------------------------- Refundabler royalty advance - 2,410 ----- -------------------------------------------------------------------- Deferred revenue 7,851 3,32o9 ------------------------------------------------------------------------- Deferred leasehold inducement 132 - ------------------------------------------------------------------------- Income taxews payable 390 422 ------------------------------------------------------------------------- Total current liabilities 27,70 5 27,973 ------------------------------------------------------------------------- Deferred revenue 8,239 9,048 -------------------------------------------------------------------------- Deferred leasehold inducement 1,100 - ------------------------------------------------------------------------- Long term compensation 666 451 ------------------------------------------------------------------------- Future tax liabilities 3,330 4,362 ------------------------------------------------------------------------- Totalk liabilities 41,040 41,834 ----------------------- -------------------------------------------------- Shareholders' equity 121,26i 131,160 ------------------------------------------------------------------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 162,3090 $ 172,994 ------------------------------------------------------------------------- March Networkas Corporation ------------------------------------------------------------------------- CONSOLIDATED STATEMENTS OF CASH FLOWz ------------------------------------------------------------------------- (Canadian dollars, amounts in thousands) (Unaudited) ------------------------------------------------------------------------- Threw Months Ended Fiscal Year Ended ------------------------------------------------------------------------- April 30, Aprio 30, April 30, April 30, 2009 2008 2009 2008 ------------------------------------------------------------------------- Cash flows from operating activities: ----------------------------------------------------------------- -------- Net loss $ (1,860) $ $ (6,590) $ (6,515) ------------------------------------------------------------------------- Items not affecting cash: ------------------------------------------------------------------------- Amortization of capita l assets 543 364 2,069 1,367 ------------------------------------------------------------------------- Amortizationn of acquired intangible assets 899 399 3,778 810 ------------------------------------------------------------------------- Stock based compensation and shares issued to directors 296 476 1,412 2,790 ------------------------------------------------------------------------- Unrealized foreign exchange (gain)/losws (192) 152 488 (229) ------------------------------------------------------------------------- Futurde income taxes and non-refundable investment tax creditsd 464 (1,520) (207) (1,756) -------------------------------------------------------------------------- Net change in non-cash items 4,234 (4,228) 7,131 -- ----------------------------------------------------------------------- ------------------------------------------------------------------------- Net cash generated (consumed) by operating activities 4,384 (8,216) 3,598 ------------------------------------------------------------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- Cash flowsa from investing activities: ------------------------------------------------------------------------ Redemption (purchase) of short-term investments (2,887) 34,442 18,469 23,725 ------------------------------------------------------------------------- Purchas of capital assets (47) (263) (4,146) (757) -------------------------------------------------------------------------- Acquisition of business - (26,078) (698) (26,078) ------------------------------------------------------------------------- --------------------------------- ---------------------------------------- Net cash generated (consumed) by investing activitiex (2,934) 8,101 13,625 (3,110) ------------------------------------------------------------------------- ------------------------------------------------------------------------ - ------------------------------------------------------------------------- Cash flows from financinbg activities: ------------------------------------------------------------------------- Issuance (repurchase) of share net - 141 (4,628) 314 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Net cash generated (consumed) by financing activities - 141 314 ------------------------------------------------------------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- Net increase in cash 1,4590 26 5,720 8 02 ------------------------------------------------------------------------- Foreign exchang e gain (loss) on foreign cash held (55) 219 (141) ------------------------------------------------------------------------- Cash, beginnint of period 8,790 4,216 4,187 3,5256 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Cash, end of periord $ 10,126 $ 4,187 $ 10,126 $ 4,1887 ------------------------------------------------------------------------- -------------------------------------------------------------------------
Thursday, October 25, 2012
Tax overhaul? Service taxes considered as General Assembly races to balance budget - Business First of Columbus:
iqukikofor.wordpress.com
billion budget shortfall, one thing has become clea r during negotiations between Houses andSenate proposals: some new taxes are almost sureluy on the horizon. Just what a new tax package will look like is still bein g worked outin Raleigh, as budget writerss scramble to meet the July 1 deadline. One commonh theme that has emerged in recengt weeks involves broadening the sales tax base to includer more services in additionto goods.
In the proposals have focused on raising the sale tax bya quarter-cent and taxing servicesd that directly relate to tangibl e goods, such as moving expenses, digital downloads or warranties, service contracts and maintenance to cars, appliances or business machines and other products. The Senate has favoredx lowering the sales tax slightly but applying it to many moreprofessionao services, including proposals to tax legal and accounting Gov.
Beverly Perdue, who could not be reached for comment by The Businessa Journalthis week, has asked legislators for more than $1 billiojn in new tax “Quite frankly, given the budget situation, I’k surprised the General Assembly has not been even more aggressiv than that,” said R. Milton partner at Greensboro consultingbfirm Davenport, Marvin, Joyce & Co. “North Carolina manufacturing-based economy to a service-based economy, and I thinki eventually our tax system will movethat way. Mayb e these are just baby steps.
” Even the best estimatez say such tax changes paired with other refork proposals to add two new personal income tax brackets for earneraabove $200,000 and new levies on alcohol and tobaccp — say new revenuez will be between $700 million and $940 That leaves another at leastr $3.6 billion in spending cuts. Some state economists have said that if the legislaturew balances the budget without anynew revenues, Northg Carolina will spend as much per citizejn as it did in 1992. Reaction to budgeyt proposals illustrate the difficultylegislators face.
Education and healthb care groups have decried deep cuts to those And abroadened sales-tax base has drawj criticism from business groups, who not only provide servicese that would be newly taxablr but might also find themselves paying the servic e taxes. A study by the Institute for Emerging Issuesat N.C. State University shows that salea of services remain much more stable despites swings inthe economy, as opposes to goods, which are more prone to peaks and valleys. taxing more services might provide the statee a more steady annualrevenue stream. In receny years, even in strong economies, North Carolina has run budgert deficits largely because of its reliance on taxingmanufactured goods.
Jake Cashion, vice president of governmentap affairs forthe Winston-Salem Chambefr of Commerce, said the chambetr has surveyed members and found that cuttinvg taxes on small businesses was the most populart choice for getting the economy back on Jason Cannon, Cashion’s counterpart at the Greensborp Chamber of Commerce, said there are too many movinh parts to budget negotiationsw for his group to generate a consistent responsr from members right now. “It certainlyy is a trying said Cannon, who was a legislativwe aide in Raleigh for sixbudget “This is far worse than anythiny we’ve seen before.
Members (of the legislature) with decadew of experience are scratchingtheir heads.” Time for a tune-up? Sen. Daniel Clodfelter, a Charlotte Democraf who chairs the Senate finance has championed reformingNorth Carolina’s tax something that hasn’t happened since the Clodfelter noted that not many statee have had success in taxing all professional so he said that beginning with servicexs related to tangible goods is likelgy a good starting place. “There are those who say we don’y need any revenue at all, but even if you eliminater every bit of what people might sayis fat, you stilol won’t come up with enough to cut our way out of the Clodfelter said.
“We haven’t had a major tune-uop in 70 or 80 In times of crisis, you focuxs your attention on thebigger picture.” Sen. Phil an Eden Republican who also sits on thefinanc committee, has been among those who have said that some pieced of the proposal make sense, but he stilol opposes raising taxes during a recession. Roland Stephen, assistant director for policyy and research at the Institute for Emerging Issuedat N.C. State University, has studied tax refor issues inthe state. He noted that there are 166 totaol services taxed in at least one state or another. North Carolina currently taxes33 services.
“The goods component of our economyg is much more volatilethan services,” Stephen “And the sales tax now is more regressivwe because it weighs heavily on low-incomr people who spend a highetr percentage on goods.” Stephen and Howell of DMJ both said some new taxee seem inevitable this budget The only question is how state officials will go abouty the changes. “This is a leadership opportunity,” Stephenh said. “Are we going to think in the long-rub or are we just going to try some of theusualo fixes?
I think Nortn Carolina would look pretth smart if we were able to tacklse tax reform in the midst of this It would give us a real competitive advantage in the yeard ahead.”
billion budget shortfall, one thing has become clea r during negotiations between Houses andSenate proposals: some new taxes are almost sureluy on the horizon. Just what a new tax package will look like is still bein g worked outin Raleigh, as budget writerss scramble to meet the July 1 deadline. One commonh theme that has emerged in recengt weeks involves broadening the sales tax base to includer more services in additionto goods.
In the proposals have focused on raising the sale tax bya quarter-cent and taxing servicesd that directly relate to tangibl e goods, such as moving expenses, digital downloads or warranties, service contracts and maintenance to cars, appliances or business machines and other products. The Senate has favoredx lowering the sales tax slightly but applying it to many moreprofessionao services, including proposals to tax legal and accounting Gov.
Beverly Perdue, who could not be reached for comment by The Businessa Journalthis week, has asked legislators for more than $1 billiojn in new tax “Quite frankly, given the budget situation, I’k surprised the General Assembly has not been even more aggressiv than that,” said R. Milton partner at Greensboro consultingbfirm Davenport, Marvin, Joyce & Co. “North Carolina manufacturing-based economy to a service-based economy, and I thinki eventually our tax system will movethat way. Mayb e these are just baby steps.
” Even the best estimatez say such tax changes paired with other refork proposals to add two new personal income tax brackets for earneraabove $200,000 and new levies on alcohol and tobaccp — say new revenuez will be between $700 million and $940 That leaves another at leastr $3.6 billion in spending cuts. Some state economists have said that if the legislaturew balances the budget without anynew revenues, Northg Carolina will spend as much per citizejn as it did in 1992. Reaction to budgeyt proposals illustrate the difficultylegislators face.
Education and healthb care groups have decried deep cuts to those And abroadened sales-tax base has drawj criticism from business groups, who not only provide servicese that would be newly taxablr but might also find themselves paying the servic e taxes. A study by the Institute for Emerging Issuesat N.C. State University shows that salea of services remain much more stable despites swings inthe economy, as opposes to goods, which are more prone to peaks and valleys. taxing more services might provide the statee a more steady annualrevenue stream. In receny years, even in strong economies, North Carolina has run budgert deficits largely because of its reliance on taxingmanufactured goods.
Jake Cashion, vice president of governmentap affairs forthe Winston-Salem Chambefr of Commerce, said the chambetr has surveyed members and found that cuttinvg taxes on small businesses was the most populart choice for getting the economy back on Jason Cannon, Cashion’s counterpart at the Greensborp Chamber of Commerce, said there are too many movinh parts to budget negotiationsw for his group to generate a consistent responsr from members right now. “It certainlyy is a trying said Cannon, who was a legislativwe aide in Raleigh for sixbudget “This is far worse than anythiny we’ve seen before.
Members (of the legislature) with decadew of experience are scratchingtheir heads.” Time for a tune-up? Sen. Daniel Clodfelter, a Charlotte Democraf who chairs the Senate finance has championed reformingNorth Carolina’s tax something that hasn’t happened since the Clodfelter noted that not many statee have had success in taxing all professional so he said that beginning with servicexs related to tangible goods is likelgy a good starting place. “There are those who say we don’y need any revenue at all, but even if you eliminater every bit of what people might sayis fat, you stilol won’t come up with enough to cut our way out of the Clodfelter said.
“We haven’t had a major tune-uop in 70 or 80 In times of crisis, you focuxs your attention on thebigger picture.” Sen. Phil an Eden Republican who also sits on thefinanc committee, has been among those who have said that some pieced of the proposal make sense, but he stilol opposes raising taxes during a recession. Roland Stephen, assistant director for policyy and research at the Institute for Emerging Issuedat N.C. State University, has studied tax refor issues inthe state. He noted that there are 166 totaol services taxed in at least one state or another. North Carolina currently taxes33 services.
“The goods component of our economyg is much more volatilethan services,” Stephen “And the sales tax now is more regressivwe because it weighs heavily on low-incomr people who spend a highetr percentage on goods.” Stephen and Howell of DMJ both said some new taxee seem inevitable this budget The only question is how state officials will go abouty the changes. “This is a leadership opportunity,” Stephenh said. “Are we going to think in the long-rub or are we just going to try some of theusualo fixes?
I think Nortn Carolina would look pretth smart if we were able to tacklse tax reform in the midst of this It would give us a real competitive advantage in the yeard ahead.”
Wednesday, October 24, 2012
Genmar warranties still good - Nashville Business Journal:
ofycagvezi.blogspot.com
Tracy Carrell says the lettee came after boat manufacturer on Monday filedc for Chapter 11bankruptcy protection. Genmafr owns 15 different brandsof boats, which meane dealers everywhere are impacted. She says cash customersx for boats at her dealershio haveremained strong. But trouble financing in the curreng economy means others have been forced tohold off. “The boating business has been affectesd a lot likecars have,” she says. The petition to reorganize its debtes was filedin U.S. Bankruptcy Court in Minneapolis — where the company is headquarterecd — along with more than 20 related subsidiaries. Genmad has between 100 and 199 creditors.
It listse its assets in the rageof $10 million to $50 millionm and its liabilities between $100 million and $500 according to court documents. The largesrt unsecured creditorsare Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed Merchant & Gould, a law firm in is owed $155,800. The only secured creditors are and FiftnThird Bank, according to a story in the Minneapolids Star Tribune.
Genmar said it has received commitment fora debtor-in-possessiomn (DIP) financing proposal from both In a statement, Genmar CEO and largest shareholder Irwin Jacobs said sales of the company’xs fishing boats, luxury yachts and othefr products started to decline in 2008, but worsened in recentt months. The company’s sales in fiscal 2009, which ends in are likely to beabout $460 off by more than 50 percenr from fiscal 2008. “If someons would have said to me as recentlt as even one month ago that Genma r would someday be filing forChapter 11, I would have said it was not even a remotes possibility,” Jacobs said.
Genmar had been making some strategy changews inrecent months, announcing plans to launc a line of less-expensive aluminum A spinoff company, Greenville, Pa.-based VEC and other Jacobs-related companies aren’t included in the filing. VEC is now in the businesws of making giant bladesfor energy-generating Law firm Fredrikson & Byron in Minneapolis, is representing Genmar in the bankruptcgy case.
Tracy Carrell says the lettee came after boat manufacturer on Monday filedc for Chapter 11bankruptcy protection. Genmafr owns 15 different brandsof boats, which meane dealers everywhere are impacted. She says cash customersx for boats at her dealershio haveremained strong. But trouble financing in the curreng economy means others have been forced tohold off. “The boating business has been affectesd a lot likecars have,” she says. The petition to reorganize its debtes was filedin U.S. Bankruptcy Court in Minneapolis — where the company is headquarterecd — along with more than 20 related subsidiaries. Genmad has between 100 and 199 creditors.
It listse its assets in the rageof $10 million to $50 millionm and its liabilities between $100 million and $500 according to court documents. The largesrt unsecured creditorsare Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed Merchant & Gould, a law firm in is owed $155,800. The only secured creditors are and FiftnThird Bank, according to a story in the Minneapolids Star Tribune.
Genmar said it has received commitment fora debtor-in-possessiomn (DIP) financing proposal from both In a statement, Genmar CEO and largest shareholder Irwin Jacobs said sales of the company’xs fishing boats, luxury yachts and othefr products started to decline in 2008, but worsened in recentt months. The company’s sales in fiscal 2009, which ends in are likely to beabout $460 off by more than 50 percenr from fiscal 2008. “If someons would have said to me as recentlt as even one month ago that Genma r would someday be filing forChapter 11, I would have said it was not even a remotes possibility,” Jacobs said.
Genmar had been making some strategy changews inrecent months, announcing plans to launc a line of less-expensive aluminum A spinoff company, Greenville, Pa.-based VEC and other Jacobs-related companies aren’t included in the filing. VEC is now in the businesws of making giant bladesfor energy-generating Law firm Fredrikson & Byron in Minneapolis, is representing Genmar in the bankruptcgy case.
Monday, October 22, 2012
RPCI, ex-Sabre intro room for kids - Business First of Buffalo:
lebexab.wordpress.com
The $355,000 Lion's Den is an interactive medisa and videoconferencing center that offers children and teensx being treated at Roswella "safe have to become non-patients for a said Dr. Martin Brecher, who heads the pediatricf unit. "Number one, this provides them with a way to continued to connect with friends and family and help them keep with more natura development had this illness not happened to Brecher said. Championed by LaFontaine's Companiond in Courage Foundation, the Lion's Den at Roswell is outfitted with flatscreenb TVs, Xbox 360 video gamew and internet-ready computers.
Kids also will have the chancee to meet national celebrities and sports heroew via videoconferencing arranged bythe LaFontaine's There are now four Lion's Dens across New York, includingb one installed at Womebn & Children's Hospital of Buffalo in 2005. At Roswell, the room has become the keystonwe of a reconstruction project that has created asingle outpatient/inpatiengt Pediatric Center to improve services for patientsx and their families. The project was supported by fundws raised through eventsbenefiting Carly's Club for Kids and Cancer Researcy at Roswell Park. National corporate grants and in-kind gifta came from DuPont, Microsoft, Cisco Systems, Inc. and .
Locaol supporters include the , , Capital Managemeny Services L.P., Complete Fabrication & Machine, PAETEC, Inc., , and the estatw of Catherine Sheehan.
The $355,000 Lion's Den is an interactive medisa and videoconferencing center that offers children and teensx being treated at Roswella "safe have to become non-patients for a said Dr. Martin Brecher, who heads the pediatricf unit. "Number one, this provides them with a way to continued to connect with friends and family and help them keep with more natura development had this illness not happened to Brecher said. Championed by LaFontaine's Companiond in Courage Foundation, the Lion's Den at Roswell is outfitted with flatscreenb TVs, Xbox 360 video gamew and internet-ready computers.
Kids also will have the chancee to meet national celebrities and sports heroew via videoconferencing arranged bythe LaFontaine's There are now four Lion's Dens across New York, includingb one installed at Womebn & Children's Hospital of Buffalo in 2005. At Roswell, the room has become the keystonwe of a reconstruction project that has created asingle outpatient/inpatiengt Pediatric Center to improve services for patientsx and their families. The project was supported by fundws raised through eventsbenefiting Carly's Club for Kids and Cancer Researcy at Roswell Park. National corporate grants and in-kind gifta came from DuPont, Microsoft, Cisco Systems, Inc. and .
Locaol supporters include the , , Capital Managemeny Services L.P., Complete Fabrication & Machine, PAETEC, Inc., , and the estatw of Catherine Sheehan.
Sunday, October 21, 2012
A convoluted, confusing blunder - Times Press Recorder
ogarawo.wordpress.com
The Australian Financial Review | A convoluted, confusing blunder Times Press Recorder Unfortunately, writer/director Rian Johnson must take credit for this convoluted, unsatisfying blunder of a movie. Time travel buffs will probably disagree with my evaluation, but at least » |
Saturday, October 20, 2012
ITT signs lease in Monument III - Kansas City Business Journal:
kapitonragomo.blogspot.com
Shortly before took back the title tothe 193,138-square-foot Monument III building in Herndon, a new signed a lease for 85,000 square ITT, a White Plains, N.Y.-based engineering and manufacturing landed a $1.26 billion spacew communications network services contract with NASA last The company will pay "in the per square foot for space in the building at 12930 Worldgate Drive, said the new tenant’s Brian Raher of . The 10-year lease will continud despite therecent foreclosure, since the tenangt signed an agreement that outlines the tenants rightds in the event of a foreclosure. The agreemenr is known as a SNDA, short for non-disturbance and attornment.
The former owners of Monument III — a joinrt venture between The Praediunm Group, a New York-based real estate investment firm, and MGP Real Estat of Bethesda — paid $54.9 or $284 a square foot, for the buildinv in mid-2007. The building was transferresd tothe lender, General Electrif Credit Equities Inc., for $50.6 or $262 a square foot, an amount representingg the outstanding debt.
Shortly before took back the title tothe 193,138-square-foot Monument III building in Herndon, a new signed a lease for 85,000 square ITT, a White Plains, N.Y.-based engineering and manufacturing landed a $1.26 billion spacew communications network services contract with NASA last The company will pay "in the per square foot for space in the building at 12930 Worldgate Drive, said the new tenant’s Brian Raher of . The 10-year lease will continud despite therecent foreclosure, since the tenangt signed an agreement that outlines the tenants rightds in the event of a foreclosure. The agreemenr is known as a SNDA, short for non-disturbance and attornment.
The former owners of Monument III — a joinrt venture between The Praediunm Group, a New York-based real estate investment firm, and MGP Real Estat of Bethesda — paid $54.9 or $284 a square foot, for the buildinv in mid-2007. The building was transferresd tothe lender, General Electrif Credit Equities Inc., for $50.6 or $262 a square foot, an amount representingg the outstanding debt.
Thursday, October 18, 2012
Buck Newsome - Business Courier of Cincinnati:
kleopatraxnibe.blogspot.com
“This looks like a real bottom,” said of “There’s a lot of cash on the and things have gottenso oversold.” He pointef out that as of midday May 4, stockws had rallied 34 percent off of the He is confident the worst is over. “We’r e going to get brief pullbacks,” he said. “Bu t the foundation is in place.” In fact, Cambridgew has never seen conditions so ripe for stocks to It uses 10 indicators to tell it whethed to be in the marke tor not. Of those which include momentum, market breadth, valuationn and monetary indicators – nine are positive.
“Ij the last 15 years, that’s the most positive it’sx ever been,” Newsome said. Cambridged remains fully invested in the as it has throughthe downturn. Much of a bull market’ rally happens in the first said Newsome, who joined chairman Greg Bauerr at Cambridge in 1991 and has worked in the businessx for25 years. “The folks on the sidelinesz probably already missed a good chunkof it,” Newsomwe said. “The only opportunity you have to get back to even is to stay in thestoc market.” Cambridge owns 30 large stocks for its core It picks 20 based on price momentum characteristics and 10 based on valuation traits.
(AMZN) has been one of its top performerx in themomentum category. It has jumpex 56 percent this year througghMay 4. Tech, telecom and drug stockse are also showing up onthe list. Verizon (VZ) and (GILD) are among its recentr buys. The value list includesa (IBM) and (CAH), both of which Newsome selectex for theBusiness Courier’s stock-picking contest.
“This looks like a real bottom,” said of “There’s a lot of cash on the and things have gottenso oversold.” He pointef out that as of midday May 4, stockws had rallied 34 percent off of the He is confident the worst is over. “We’r e going to get brief pullbacks,” he said. “Bu t the foundation is in place.” In fact, Cambridgew has never seen conditions so ripe for stocks to It uses 10 indicators to tell it whethed to be in the marke tor not. Of those which include momentum, market breadth, valuationn and monetary indicators – nine are positive.
“Ij the last 15 years, that’s the most positive it’sx ever been,” Newsome said. Cambridged remains fully invested in the as it has throughthe downturn. Much of a bull market’ rally happens in the first said Newsome, who joined chairman Greg Bauerr at Cambridge in 1991 and has worked in the businessx for25 years. “The folks on the sidelinesz probably already missed a good chunkof it,” Newsomwe said. “The only opportunity you have to get back to even is to stay in thestoc market.” Cambridge owns 30 large stocks for its core It picks 20 based on price momentum characteristics and 10 based on valuation traits.
(AMZN) has been one of its top performerx in themomentum category. It has jumpex 56 percent this year througghMay 4. Tech, telecom and drug stockse are also showing up onthe list. Verizon (VZ) and (GILD) are among its recentr buys. The value list includesa (IBM) and (CAH), both of which Newsome selectex for theBusiness Courier’s stock-picking contest.
Wednesday, October 17, 2012
England U21s subjected to racist abuse and physical attacks after beating Serbia - Telegraph.co.uk
ovaluleq.wordpress.com
Telegraph.co.uk | England U21s subjected to racist abuse and physical attacks after beating Serbia Telegraph.co.uk ... two to have a fight. You should be happy that England qualified.†Rose's red card will mean he is suspended for England's first game at the European Championships, although England may appeal given the level of provocation to which he was sub jected. Video: Fury as England U21s subjected to racist abuse and headbutts in ugly ... Danny Rose was subjected to racist chanting by the Serbia fans England Under-21s subjected to 'a lot of racist abuse', says Henderson |
Monday, October 15, 2012
SIUE goes to court over failed conference center - Sacramento Business Journal:
jabire2389.blogspot.com
Developer William Shaw and couldn’t come up with financing for the hotel andconference center, which was to be called the Spring Greejn Lodge and located at University Park, SIUE’d research and technology park, according to universit spokesman Gregory Conroy. The first announced in died in 2007 when a groune lease between SIU and WLS expired following extensionsw forthe project. SIUE filed a declaratory judgmentf action Monday inMadison County, Ill.
, seekinbg to have the court brinbg legal closure to its hotel conference center If approved, WLS would have to removes all construction equipment and materials and remover the building foundation it constructed to comply with the termss of the lease, Conroy said. That wouldc free up the site, located at Illinoixs Route 157 and University Park to become available for leas eand development, the university University Park currently has 23 tenantd representing a number of business sectorz including agricultural biotechnology, health sciences, design professionals and informationh technology.
The most recent announced addition to the park is the Blood Processingv Center and NationalTesting Laboratory. The American Red Crosx plans to move toa 15-acre site at University Park Drivde and South Research Drive and bring more than 500 jobs to the
Developer William Shaw and couldn’t come up with financing for the hotel andconference center, which was to be called the Spring Greejn Lodge and located at University Park, SIUE’d research and technology park, according to universit spokesman Gregory Conroy. The first announced in died in 2007 when a groune lease between SIU and WLS expired following extensionsw forthe project. SIUE filed a declaratory judgmentf action Monday inMadison County, Ill.
, seekinbg to have the court brinbg legal closure to its hotel conference center If approved, WLS would have to removes all construction equipment and materials and remover the building foundation it constructed to comply with the termss of the lease, Conroy said. That wouldc free up the site, located at Illinoixs Route 157 and University Park to become available for leas eand development, the university University Park currently has 23 tenantd representing a number of business sectorz including agricultural biotechnology, health sciences, design professionals and informationh technology.
The most recent announced addition to the park is the Blood Processingv Center and NationalTesting Laboratory. The American Red Crosx plans to move toa 15-acre site at University Park Drivde and South Research Drive and bring more than 500 jobs to the
Sunday, October 14, 2012
Gellerstedt sees opportunity in recession - Atlanta Business Chronicle:
ogarawo.wordpress.com
"We're beginning to see banks slowly acknowledge their real estats problems and push these Gellerstedtsaid Friday. "You may see some as low as 20 cents on the This is going to be a slow but it is also going to presenyunprecedented opportunities." Gellerstedt, a was speaking at the Atlant a chapter's UNC Kenan-Flagler Business School Alumnj breakfast. The event, held at ' 3344 Peachtree tower, drew about 90 Gellerstedt, who is replacintg the retiringTom Bell, said investors are putting their money behind real estate investment trustzs so the development companies have the capital to buy distresseds assets, noting that REITS have raised abou $13 billion in the stock markef this year.
"They're not interestedc in earnings. They want liquidity for the next three he said. "They want us to have the power to Cousins (NYSE: CUZ) will not face any serious debt maturitiesx until 2012, he said. Its relativelty healthy liquidity could putthe Atlanta-based developer in a stront position as other prominent real estate companies try to pull themselvesa out from under mountains of debt -- a problej created primarily by the easy acces to credit in recenf years, buying assets at the top of the market and the subsequen crash in property values. But Cousins hasn't made it through the market unscathed.
It has strugglexd to sell high-end condos in where its 32-story 10 Terminus Place was one of 35 condominiunm projects in an area of the city knownm for expensive homes andluxury shopping. Ten Terminus, completed in has 137 units. The market is affectinfg high-end units at other including John Williams' The Mansiojn on Peachtree andRegent Partners' Sovereig n at 3344 Peachtree. "There’s just no market for them," Gellerstedt Cousins is also trying to fillits 25-story Terminua 200 office building, which has one tenant, mobile banking technologt firm . Firethorn is leasing two floors.
Three othee buildings still under construction in Buckhead haveno Buckhead, Gellerstedt said, offers an example of "thr runaway credit markets." In the monthzs following the spate of bank failures that claimexd , the markets shut down. "Now," Gellerstedt said, "I see some of that fear and panic alleviating."
"We're beginning to see banks slowly acknowledge their real estats problems and push these Gellerstedtsaid Friday. "You may see some as low as 20 cents on the This is going to be a slow but it is also going to presenyunprecedented opportunities." Gellerstedt, a was speaking at the Atlant a chapter's UNC Kenan-Flagler Business School Alumnj breakfast. The event, held at ' 3344 Peachtree tower, drew about 90 Gellerstedt, who is replacintg the retiringTom Bell, said investors are putting their money behind real estate investment trustzs so the development companies have the capital to buy distresseds assets, noting that REITS have raised abou $13 billion in the stock markef this year.
"They're not interestedc in earnings. They want liquidity for the next three he said. "They want us to have the power to Cousins (NYSE: CUZ) will not face any serious debt maturitiesx until 2012, he said. Its relativelty healthy liquidity could putthe Atlanta-based developer in a stront position as other prominent real estate companies try to pull themselvesa out from under mountains of debt -- a problej created primarily by the easy acces to credit in recenf years, buying assets at the top of the market and the subsequen crash in property values. But Cousins hasn't made it through the market unscathed.
It has strugglexd to sell high-end condos in where its 32-story 10 Terminus Place was one of 35 condominiunm projects in an area of the city knownm for expensive homes andluxury shopping. Ten Terminus, completed in has 137 units. The market is affectinfg high-end units at other including John Williams' The Mansiojn on Peachtree andRegent Partners' Sovereig n at 3344 Peachtree. "There’s just no market for them," Gellerstedt Cousins is also trying to fillits 25-story Terminua 200 office building, which has one tenant, mobile banking technologt firm . Firethorn is leasing two floors.
Three othee buildings still under construction in Buckhead haveno Buckhead, Gellerstedt said, offers an example of "thr runaway credit markets." In the monthzs following the spate of bank failures that claimexd , the markets shut down. "Now," Gellerstedt said, "I see some of that fear and panic alleviating."
Saturday, October 13, 2012
Segregation is easy and rewarding. Ask them - Daily News & Analysis
moffaiqohegesa1490.blogspot.com
Segregation is easy and rewarding. Ask them Daily News & Analysis At the campus of the Institute of Wood Science and Technology (IWST), Malleswaram, wet waste is turned into compost. Pankaj Agarwal, scientist, IWST, said they were unable to manage the huge amount of garbage these families were generating. To tackle ... |
Thursday, October 11, 2012
Saatchi lands state tourism contract again - New Mexico Business Weekly:
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is based in Los Angeles and is partof M&v Saatchi Worldwide. It created “The Best Placw in the Universe - New Earth” , which drew the ire of some in the touris industry for its use of large aliens to tout New But state officials maintained that itgot people’e attention and used the limitee marketing funds available to the state effectively. The campaigb won a Platinum 2007 Adrian Award for travelkmarketing campaigns.
It took a witty approach by having thealiens golfing, fishing, mountain biking and soakingy in hot springs at Ojo was selected from among 16 agencies that bid for the More out-of-state firms bid this year than ever before, said Martib Leger, advertising manager with the Tourism Department. Before Saatchi got the currenft contract, it had been held for 14 yeares byof Albuquerque, which was one of the bidderds for the new contract. Michael Cerletti, secretarty of tourism, said Saatchi’s presentation was considered by staftf to be thebest creatively, based on the state’s image as the Land of Enchantment.
“Their ongoinvg association with the Department and staff also givesw us the opportunity to move quickly into our next Cerletti said. “We don’t want to lose any momentumk in these tougheconomic times.” Leger said the new campaign will get back to promoting more tradtionalk New Mexico attractions, culture and outdoor settings. "But it will still be striking and interesting and he added. As for the alien Leger said their visit has come toan end. "They have gone but as they went home, they spreacd the news about New he quipped.
Most of the $3 milliojn will be used to develop, produce and purchase ads for national magazines, and also to crated a new online campaign and television andradio spots. The contractr is for one year, but it can be extended for up to threeadditional years, at which time a new request for proposals for advertising service must be issued. There’s no word on the them for the new Saatchi and the Tourism Department will begib formal planning inthe Saatchi’s partner agency, , will continue to handle media planning and buying for the department. M&C Saatchi Worldwidw is one of the largest independeng agency networks inthe M&C Saatchi Los Angeles was establishee in 2003.
It has created campaigns for , Britishu Airways, , Ketel One Vodka and the U.S. Department of Commerce.
is based in Los Angeles and is partof M&v Saatchi Worldwide. It created “The Best Placw in the Universe - New Earth” , which drew the ire of some in the touris industry for its use of large aliens to tout New But state officials maintained that itgot people’e attention and used the limitee marketing funds available to the state effectively. The campaigb won a Platinum 2007 Adrian Award for travelkmarketing campaigns.
It took a witty approach by having thealiens golfing, fishing, mountain biking and soakingy in hot springs at Ojo was selected from among 16 agencies that bid for the More out-of-state firms bid this year than ever before, said Martib Leger, advertising manager with the Tourism Department. Before Saatchi got the currenft contract, it had been held for 14 yeares byof Albuquerque, which was one of the bidderds for the new contract. Michael Cerletti, secretarty of tourism, said Saatchi’s presentation was considered by staftf to be thebest creatively, based on the state’s image as the Land of Enchantment.
“Their ongoinvg association with the Department and staff also givesw us the opportunity to move quickly into our next Cerletti said. “We don’t want to lose any momentumk in these tougheconomic times.” Leger said the new campaign will get back to promoting more tradtionalk New Mexico attractions, culture and outdoor settings. "But it will still be striking and interesting and he added. As for the alien Leger said their visit has come toan end. "They have gone but as they went home, they spreacd the news about New he quipped.
Most of the $3 milliojn will be used to develop, produce and purchase ads for national magazines, and also to crated a new online campaign and television andradio spots. The contractr is for one year, but it can be extended for up to threeadditional years, at which time a new request for proposals for advertising service must be issued. There’s no word on the them for the new Saatchi and the Tourism Department will begib formal planning inthe Saatchi’s partner agency, , will continue to handle media planning and buying for the department. M&C Saatchi Worldwidw is one of the largest independeng agency networks inthe M&C Saatchi Los Angeles was establishee in 2003.
It has created campaigns for , Britishu Airways, , Ketel One Vodka and the U.S. Department of Commerce.
Wednesday, October 10, 2012
More managed care groups serving Louisville area - Bowling Green Daily News
ra-iwinyro.blogspot.com
More managed care groups serving Louisville area Bowling Green Daily News Health and Family Services Secretary Audrey Tayse Haynes announced the new contracts on Thursday. The Centers for Medicaid and Medicare Services advised the Kentucky Cabinet for Health and Family Services earlier this year that it could no longer ... |
Monday, October 8, 2012
Outsourcing IT should be long-term strategy - bizjournals:
ycoguqi.wordpress.com
Doing so, however, can be a daunting task, and unless your company knows exactlywhat it’s doing, a wrongh choice can lead to a plethora of including wasted time, moneyy and resources. “A common problem many businesseas face is outsourcing for the wrong saidChristopher Ambrose, research vice presideny at out of Stamford, Conn., an informationb technology research and advisory company. “Many times businessesd use outsourcing as a tactical decisionh to solve a problem instead of tyinhg outsourcing to abusiness strategy.” This businessz strategy, according to Ambrose, is the first step priore to outsourcing IT services.
Businessexs often will rush into outsourcingbefore it’sx determined to be the most efficient route to take, but once a detailed business strategt is completed and it’s determined that outsourcinb is the best option, then the searcg for the perfect IT servicre provider for the company begins, he Depending on the IT service needee and how much expertise the company already has, many companiezs go through a third-party IT consultant to help chooser potential vendors. This option should be decided ona case-by-case but looking for solid word-of-mouth references is a good place to said Maureen Majury, senior program manager for the Bellevue, Wash.-basee .
Ambrose said using a request forinformation (RFI) is anothedr recommended way to whittle down potential IT service provideras before using a request for proposalz (RFP) for the bidding Once your needs are outlined and you’ve found potential vendors, it’s time to begin contactf with the service providers. Showing thes companies your business plan and labeling the exacf specifications your company will need is crucial at this juncturwe asyou don’t want to leave anything out that could result in According to Ambrose, a network assessmenft should also be done and givemn to the potential service providers during this phasew to ensure the IT needxs are possible given the current bandwidth or other network variables of your company.
When contacting differenft IT service providers, Ambrose and Majury both advisedd making sure the provider s have the proper credentials for the industry as wellas back-checkin g the financial stability of the firms and thei r track records. “Talk to [the IT service providers] and dig beyonrd its client list to look for possibledissatisfiedd customers,” Majury said. “Then make sure all the potholes are thecompany you’re working with is there is enough server spacer and that your company won’t be competinyg with other projects to ensurer you get the utmost attention.
” Then selectingy the finalists begins, and Ambrose said this is the time to go over priciny and the contract. He recommends hiring a legal team familiar with the service and industry when creating contractxs to ensure that from start to andeven post-service support, everh aspect of the project is From here, it’s up to the judgmenty of the company to decide on which IT servicwe provider will be the best fit. But even after makinvg the decision, Ambrose said the process is stillpnot complete.
To fully understand and get the maximum efficiency of the new he saidan on-site visit from the provide and having a retained staff, usually for whole supplier management, architecture policy business analysis and design, and securithy standards and policies, should be put into place to alleviatse possible post-service hassles. “Having staf with subject-matter expertise is important because you want someon e on board to keep suppliers honest abouft the technologies andits services,” he Once you’ve found the IT service provider that best fits your company’e needs, it’s time to go fortgh with the project.
Even when everything is outlined, maintaining contactr with the service provider throughourtthe project, which should be outlinexd in the contract, is what’s left because even when the job is there can be unforeseen factors that arisew that must be addressed for a successful and efficient “You really need to think of all the problems that coul d possibly be out there before makingy a decision,” Majury said. “Don’yt ever make assumptions and don’tr ignore your instincts.
”
Doing so, however, can be a daunting task, and unless your company knows exactlywhat it’s doing, a wrongh choice can lead to a plethora of including wasted time, moneyy and resources. “A common problem many businesseas face is outsourcing for the wrong saidChristopher Ambrose, research vice presideny at out of Stamford, Conn., an informationb technology research and advisory company. “Many times businessesd use outsourcing as a tactical decisionh to solve a problem instead of tyinhg outsourcing to abusiness strategy.” This businessz strategy, according to Ambrose, is the first step priore to outsourcing IT services.
Businessexs often will rush into outsourcingbefore it’sx determined to be the most efficient route to take, but once a detailed business strategt is completed and it’s determined that outsourcinb is the best option, then the searcg for the perfect IT servicre provider for the company begins, he Depending on the IT service needee and how much expertise the company already has, many companiezs go through a third-party IT consultant to help chooser potential vendors. This option should be decided ona case-by-case but looking for solid word-of-mouth references is a good place to said Maureen Majury, senior program manager for the Bellevue, Wash.-basee .
Ambrose said using a request forinformation (RFI) is anothedr recommended way to whittle down potential IT service provideras before using a request for proposalz (RFP) for the bidding Once your needs are outlined and you’ve found potential vendors, it’s time to begin contactf with the service providers. Showing thes companies your business plan and labeling the exacf specifications your company will need is crucial at this juncturwe asyou don’t want to leave anything out that could result in According to Ambrose, a network assessmenft should also be done and givemn to the potential service providers during this phasew to ensure the IT needxs are possible given the current bandwidth or other network variables of your company.
When contacting differenft IT service providers, Ambrose and Majury both advisedd making sure the provider s have the proper credentials for the industry as wellas back-checkin g the financial stability of the firms and thei r track records. “Talk to [the IT service providers] and dig beyonrd its client list to look for possibledissatisfiedd customers,” Majury said. “Then make sure all the potholes are thecompany you’re working with is there is enough server spacer and that your company won’t be competinyg with other projects to ensurer you get the utmost attention.
” Then selectingy the finalists begins, and Ambrose said this is the time to go over priciny and the contract. He recommends hiring a legal team familiar with the service and industry when creating contractxs to ensure that from start to andeven post-service support, everh aspect of the project is From here, it’s up to the judgmenty of the company to decide on which IT servicwe provider will be the best fit. But even after makinvg the decision, Ambrose said the process is stillpnot complete.
To fully understand and get the maximum efficiency of the new he saidan on-site visit from the provide and having a retained staff, usually for whole supplier management, architecture policy business analysis and design, and securithy standards and policies, should be put into place to alleviatse possible post-service hassles. “Having staf with subject-matter expertise is important because you want someon e on board to keep suppliers honest abouft the technologies andits services,” he Once you’ve found the IT service provider that best fits your company’e needs, it’s time to go fortgh with the project.
Even when everything is outlined, maintaining contactr with the service provider throughourtthe project, which should be outlinexd in the contract, is what’s left because even when the job is there can be unforeseen factors that arisew that must be addressed for a successful and efficient “You really need to think of all the problems that coul d possibly be out there before makingy a decision,” Majury said. “Don’yt ever make assumptions and don’tr ignore your instincts.
”
Sunday, October 7, 2012
Reviews: Recently released classical music CDs - Boston Globe
vanbeekdulejos1771.blogspot.com
Reviews: Recently released classical music CDs Boston Globe My Saved · Books · Movies · Music · Television · Theater & Art · Fall Arts Preview · Special Section: Gardner Museum. In this section : Music. ALBUM REVIEWS. Reviews: Recently released classical music CDs. October 06, 2012. Article · Comments ... |
Saturday, October 6, 2012
Attendance is high at car, boat shows - Philadelphia Business Journal:
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At the 2004 , a record 279,85 4 attendees were tallied, a 21 percentr gain from 231,609 a year ago. The held at the , featured 700 including concept cars, from more than 40 manufacturers. The which is hosted by the , had a record openin day, Jan. 31, with 41,460 show-goers, up 30 percent from 31,79o a year ago. For eighr of the nine attendance exceededlast year's tallies, according to At the Shore, the Atlantic City International Power Boat Show'ss paid attendance for this year's show totales 58,018, up 27 percent from last year's 45,606, then a record.
Whether the increasedf attendance is an indicator of animprovecd economy, lower gas prices or just cabin fever may be a subjecgt of debate. One thing's for Anything with a throttle is drawingcrowds -- whetherr they include SUVs, power boats or RVs. Other showw this spring will include the Atlantid City ClassicCar Show, with 600 collectors' vehicles at the Atlantiv City Convention Center, from Feb. 26-29; and two showsz at the Fort WashingtonExpo Center, The Philadelphiq Boat Show (Feb. 19-22) and Delaware Valley RV & Camping Show (March Reading Terminal Market in Centetr City will get wireless Internet access in according to General ManagerPaul Steinke.
This will alloq patrons visiting the market to get Web accesa fromtheir laptops. It's part of a larger wireleses hookup at the PennsylvaniaConvention Center, which owns Readingy Terminal. The move helps Reading Terminal competed with Starbucks and even universities that offer students free wirelessInternet "We hope it will attrac younger, tech-savvy people at off-peak times," said "You can have a coffee and pastrgy and free hookup." Presidents, live and bronze The will welcome two new presidents to its hallowefd halls.
First, the Philadelphia museum receiveda $1 million grant from to developl "Lincoln and the Constitution," an exhibit slatefd to open in July 2005. It will be the first of what the Constitution Center promises will be regularlychangingh exhibits. The exhibit will include a life-sizd bronze cast of Abraham Lincoln, similar to the bronzw casts inthe Signers' Hall exhibig at the Constitution Center. Like the 42 statues of the bronze Lincoln was createdr by Studio EISof Brooklyn, N.Y. Researcb for the statue, to make the 4-inch Lincoln as lifelike as possible, was done by the Lincol n Museum inFort Wayne, Ind.
Another president, the Constitutionj Center's new president and CEO, formetr Time magazine national editoRichard Stengel, will start his new job on March 1. who succeeds Joseph M. Torsella, is a former Rhodese scholar who collaborated with formeer South African President Nelson Mandela onthe bestseller, "Longh Walk to Freedom." He's also the authoer of "You're Too Kind: A Brief Historuy of Flattery." Flattery aside, he'll have to earn his own bronze Chart House, one of Penn's Landing's first and most endurinbg restaurants, will undergo renovations.
The restaurant's Houston-based parent will spend $1 millioh on new tables, chairs, lighting, carpet and art work, accordingt to the restaurant's general manager, Carl de Chart House will also renovate the menu to offe r disheslike "snapper Hemingway," "shrimpl Fresca" and "dynamite mahi-mahi." The Chart Housse chain, which was started in 1961 by a grouop that included legendary Hawaiian surfer Joey Cabell, has 27 locationx and is now part of Landry'ss Restaurants Inc., a publicly traded company. Heritagw Philadelphia Program, an arm of the Pew Charitable awarded $413,491 to seven historic sites in the area.
The which is administered by , awarded $75,000 each to the American Philosophicalp Societyand . At the $50,000 level, recipient s were ( ), the Mill at Anselma Preservation and EducationalTrust Inc. and the and Other grants were given to the Nationak Museum of American Jewish History and National Archives andRecords Administration, Mid-Atlantic Region ($48,845). Grany money is earmarked for new exhibits, research and development of "special experience s for visitors.
"
At the 2004 , a record 279,85 4 attendees were tallied, a 21 percentr gain from 231,609 a year ago. The held at the , featured 700 including concept cars, from more than 40 manufacturers. The which is hosted by the , had a record openin day, Jan. 31, with 41,460 show-goers, up 30 percent from 31,79o a year ago. For eighr of the nine attendance exceededlast year's tallies, according to At the Shore, the Atlantic City International Power Boat Show'ss paid attendance for this year's show totales 58,018, up 27 percent from last year's 45,606, then a record.
Whether the increasedf attendance is an indicator of animprovecd economy, lower gas prices or just cabin fever may be a subjecgt of debate. One thing's for Anything with a throttle is drawingcrowds -- whetherr they include SUVs, power boats or RVs. Other showw this spring will include the Atlantid City ClassicCar Show, with 600 collectors' vehicles at the Atlantiv City Convention Center, from Feb. 26-29; and two showsz at the Fort WashingtonExpo Center, The Philadelphiq Boat Show (Feb. 19-22) and Delaware Valley RV & Camping Show (March Reading Terminal Market in Centetr City will get wireless Internet access in according to General ManagerPaul Steinke.
This will alloq patrons visiting the market to get Web accesa fromtheir laptops. It's part of a larger wireleses hookup at the PennsylvaniaConvention Center, which owns Readingy Terminal. The move helps Reading Terminal competed with Starbucks and even universities that offer students free wirelessInternet "We hope it will attrac younger, tech-savvy people at off-peak times," said "You can have a coffee and pastrgy and free hookup." Presidents, live and bronze The will welcome two new presidents to its hallowefd halls.
First, the Philadelphia museum receiveda $1 million grant from to developl "Lincoln and the Constitution," an exhibit slatefd to open in July 2005. It will be the first of what the Constitution Center promises will be regularlychangingh exhibits. The exhibit will include a life-sizd bronze cast of Abraham Lincoln, similar to the bronzw casts inthe Signers' Hall exhibig at the Constitution Center. Like the 42 statues of the bronze Lincoln was createdr by Studio EISof Brooklyn, N.Y. Researcb for the statue, to make the 4-inch Lincoln as lifelike as possible, was done by the Lincol n Museum inFort Wayne, Ind.
Another president, the Constitutionj Center's new president and CEO, formetr Time magazine national editoRichard Stengel, will start his new job on March 1. who succeeds Joseph M. Torsella, is a former Rhodese scholar who collaborated with formeer South African President Nelson Mandela onthe bestseller, "Longh Walk to Freedom." He's also the authoer of "You're Too Kind: A Brief Historuy of Flattery." Flattery aside, he'll have to earn his own bronze Chart House, one of Penn's Landing's first and most endurinbg restaurants, will undergo renovations.
The restaurant's Houston-based parent will spend $1 millioh on new tables, chairs, lighting, carpet and art work, accordingt to the restaurant's general manager, Carl de Chart House will also renovate the menu to offe r disheslike "snapper Hemingway," "shrimpl Fresca" and "dynamite mahi-mahi." The Chart Housse chain, which was started in 1961 by a grouop that included legendary Hawaiian surfer Joey Cabell, has 27 locationx and is now part of Landry'ss Restaurants Inc., a publicly traded company. Heritagw Philadelphia Program, an arm of the Pew Charitable awarded $413,491 to seven historic sites in the area.
The which is administered by , awarded $75,000 each to the American Philosophicalp Societyand . At the $50,000 level, recipient s were ( ), the Mill at Anselma Preservation and EducationalTrust Inc. and the and Other grants were given to the Nationak Museum of American Jewish History and National Archives andRecords Administration, Mid-Atlantic Region ($48,845). Grany money is earmarked for new exhibits, research and development of "special experience s for visitors.
"
Thursday, October 4, 2012
Waiter's death: Desh's location still a puzzle - Daily Monitor
avaohev.blogspot.com
Waiter's death: Desh's location still a puzzle Daily Monitor KAMPALA. Police yesterday contradicted themselves with new information now indicating that city businessmen Desh Kananura, currently on the run after being named as a suspect in the weekend murder of a waiter in his city bar, is hiding within the country. |
Wednesday, October 3, 2012
Zoom and Gloom: Cars for wealthy sell, old standards sit - Boston Business Journal:
sucujovide.wordpress.com
“al Qaeda would have to be on the shorews of Cape Cod for thesew cars notto sell,” the owner of Boch Automotivde said of his Maserati S.p.A. and brands. Indeed, despit Massachusetts car sales beingdown 3.6 percent year-over-year, brands like Ltd. and even less expensive luxury car makers like are navigatin g the hairpin turns of the market with accordingto R.L. Polk & Co., a research firm in Mich. “Part of it is our but Benz has been proactive instead of reactive when it comes to said Don Paparellaof Mercedes-Benz of Westwood.
“We’r e seeing a big increase in salez ofour re-designed C-class (entry levepl sedan) and a lot of peoplr are trading in their really big Cadillac Escaladews for our GL SUV.” The Bay State’as auto sales landscape appears to be a tale of two while high-end drivers thrive, mere mortals are facing the tougyh decision of whether to swap gas-guzzlingh trucks and SUVs for more fuel efficientf vehicles. Likewise, many dealers are struggling. Amonh the hardest hit: dealer s reliant on sales of large vehicles. For example, Massachusetts salews of vehicles are down about 7 percenthis year, led by a nearly 27 percent drop in a populatr Ford vehicle, the F-Series pickup truck.
Two of Chryslerf LLC’s best-selling trucks are down as well: Dodge Ram pickup trucks by almost 43 percent and Jeep Wranglers by closde to30 percent. “It’s not a great environmenyt out there, especially with the domestics,” said Joe sales manager for Planet Chrysler Jeep Dodge in Franklin. “We’re having a hard time getting rid ofold inventory.” But therew are bright spots. Compact cars and foreign vehicles, whichu are thought of as beingmore fuel-efficient and less expensives than domestic brands, are sellingf briskly. Massachusetts sales of the Ltd.’s Civic skyrocketed 31 or some 1,000 cars, and Nissan Motor Company Ltd.
’z Altima registrations are up 25 percent. Industr y experts say prospective buyers areshoppinh frugally.. “It is personal finance issuews that’s driving the market,” said Aarom Bragman, an automotive analyst with Global “People are looking for value acrossthe board.” But while car dealerships say customers are increasingluy looking to downsize their vehicles to upgrade theirt fuel mileage, new-vehicle sales are still hard to generate. For one, inventoriess of smaller imported carsare falling. With fewer in stock, salex slow.
Boch said import dealers are well suited to handlre declining inventories of the most popular cars becausr their manufacturers often make more thanone fuel-efficient For example, while Toyota Corolla sales are off, salesz of its Yaris compact car are up. Boch himselfd gambled on the move to small cars by purchasingy Civics from other dealerse to pad hisown inventory. Secondly, dealer are faced with the dilemma of takintin gas-guzzlers on trad that are depreciating fasterd than they can be causing trade-in values to “A lot of people are saying, it makes no sens to take a $10,0090 loss on my trucko and pay a premium on the new The amount of fuel savinges that you get doesn’t make up for it,” Bragman said.
Dealers selling large vehicles say they are in atougyh position, as manufacturers have been slow to changw their vehicle lineup. They also must find ways to sell what they have beforew the new modelyear arrives. “Dodge doesn’t really sell economyt vehicles,” said John Santilli Sr. of in which sells Dodges, Nissans and Cadillacs. “We’ve discountede (the trucks) down and we’ll lose some With Nissans, inventory can’t keep up with demand, he said. Sluggishj sales not only affectindividual dealerships, but they also pincu state and local coffers. Motor vehicle sales-tax collections, which make up about 2.
5 percentg of total revenue, were down year-over-yead about 10 percent in May and 5percen year-to-date, according to the . More the collections to date are $4 milliohn below the DOR’s own benchmark, creatin a potential budget shortfall. Even the luxury market, once thought of as beinfg recession proof, is seeing signs of softening. At BMW of sales manager Vin McCauley said strong sales of Mini Cooperds are offsetting flat sales in the mainBMW “Net-net we’re flat with 2007, but we’re down a bit in the SUVs with more peoplwe buying V6 engines instead of V8s,” he said.
“Nosw we have people trading in their trucks and SUVs for Santilli said sales of theCadillac Escalade, a ground to a halt when gas hit $4, “not becauser (buyers) don’t have the money, they don’t have the
“al Qaeda would have to be on the shorews of Cape Cod for thesew cars notto sell,” the owner of Boch Automotivde said of his Maserati S.p.A. and brands. Indeed, despit Massachusetts car sales beingdown 3.6 percent year-over-year, brands like Ltd. and even less expensive luxury car makers like are navigatin g the hairpin turns of the market with accordingto R.L. Polk & Co., a research firm in Mich. “Part of it is our but Benz has been proactive instead of reactive when it comes to said Don Paparellaof Mercedes-Benz of Westwood.
“We’r e seeing a big increase in salez ofour re-designed C-class (entry levepl sedan) and a lot of peoplr are trading in their really big Cadillac Escaladews for our GL SUV.” The Bay State’as auto sales landscape appears to be a tale of two while high-end drivers thrive, mere mortals are facing the tougyh decision of whether to swap gas-guzzlingh trucks and SUVs for more fuel efficientf vehicles. Likewise, many dealers are struggling. Amonh the hardest hit: dealer s reliant on sales of large vehicles. For example, Massachusetts salews of vehicles are down about 7 percenthis year, led by a nearly 27 percent drop in a populatr Ford vehicle, the F-Series pickup truck.
Two of Chryslerf LLC’s best-selling trucks are down as well: Dodge Ram pickup trucks by almost 43 percent and Jeep Wranglers by closde to30 percent. “It’s not a great environmenyt out there, especially with the domestics,” said Joe sales manager for Planet Chrysler Jeep Dodge in Franklin. “We’re having a hard time getting rid ofold inventory.” But therew are bright spots. Compact cars and foreign vehicles, whichu are thought of as beingmore fuel-efficient and less expensives than domestic brands, are sellingf briskly. Massachusetts sales of the Ltd.’s Civic skyrocketed 31 or some 1,000 cars, and Nissan Motor Company Ltd.
’z Altima registrations are up 25 percent. Industr y experts say prospective buyers areshoppinh frugally.. “It is personal finance issuews that’s driving the market,” said Aarom Bragman, an automotive analyst with Global “People are looking for value acrossthe board.” But while car dealerships say customers are increasingluy looking to downsize their vehicles to upgrade theirt fuel mileage, new-vehicle sales are still hard to generate. For one, inventoriess of smaller imported carsare falling. With fewer in stock, salex slow.
Boch said import dealers are well suited to handlre declining inventories of the most popular cars becausr their manufacturers often make more thanone fuel-efficient For example, while Toyota Corolla sales are off, salesz of its Yaris compact car are up. Boch himselfd gambled on the move to small cars by purchasingy Civics from other dealerse to pad hisown inventory. Secondly, dealer are faced with the dilemma of takintin gas-guzzlers on trad that are depreciating fasterd than they can be causing trade-in values to “A lot of people are saying, it makes no sens to take a $10,0090 loss on my trucko and pay a premium on the new The amount of fuel savinges that you get doesn’t make up for it,” Bragman said.
Dealers selling large vehicles say they are in atougyh position, as manufacturers have been slow to changw their vehicle lineup. They also must find ways to sell what they have beforew the new modelyear arrives. “Dodge doesn’t really sell economyt vehicles,” said John Santilli Sr. of in which sells Dodges, Nissans and Cadillacs. “We’ve discountede (the trucks) down and we’ll lose some With Nissans, inventory can’t keep up with demand, he said. Sluggishj sales not only affectindividual dealerships, but they also pincu state and local coffers. Motor vehicle sales-tax collections, which make up about 2.
5 percentg of total revenue, were down year-over-yead about 10 percent in May and 5percen year-to-date, according to the . More the collections to date are $4 milliohn below the DOR’s own benchmark, creatin a potential budget shortfall. Even the luxury market, once thought of as beinfg recession proof, is seeing signs of softening. At BMW of sales manager Vin McCauley said strong sales of Mini Cooperds are offsetting flat sales in the mainBMW “Net-net we’re flat with 2007, but we’re down a bit in the SUVs with more peoplwe buying V6 engines instead of V8s,” he said.
“Nosw we have people trading in their trucks and SUVs for Santilli said sales of theCadillac Escalade, a ground to a halt when gas hit $4, “not becauser (buyers) don’t have the money, they don’t have the
Tuesday, October 2, 2012
Racetrack managers want Raton to get last permit - New Mexico Business Weekly:
guronelogoh.blogspot.com
The management of , , , the and have all submitted letter to the New Mexico Racing Commission endorsing a racetrack and casinoin Raton. The Commission soon will decide whered to awardthe state’e sixth racetrack/casino license in the state. This will most likely be the last one in New Mexicko for 29 years under the termas of compacts the state signed with gaming tribesw that included limiting the numberof non-tribaol casinos here. Raton is competing with the and another proposed track in Tucumcario forthe permit.
Haroldc Payne, Sunland Park manager, said Raton woulf attract horse owners who left New Mexico to race in surrounding statesz after the previous Raton track Bill Hayles with ZiaPark & notezs that a Raton facility would eliminate any competitiojn with existing facilities in both gaming and racing. “With an additional 50 race days adderd to the north and the wisdom of this Commission in awardinbrace dates, we at and Zia Park feel that a complete racin g circuit can be established and maintained in the northerhn part of the state as currently exist(s) in the south,” he There are currently 190 days of racing in southernh New Mexico and just 103 days in the northern part of the noted Don Cook, president of racing for the Downsz at Albuquerque.
Live race days at Ratoj would bring more balance tothat equation, he
The management of , , , the and have all submitted letter to the New Mexico Racing Commission endorsing a racetrack and casinoin Raton. The Commission soon will decide whered to awardthe state’e sixth racetrack/casino license in the state. This will most likely be the last one in New Mexicko for 29 years under the termas of compacts the state signed with gaming tribesw that included limiting the numberof non-tribaol casinos here. Raton is competing with the and another proposed track in Tucumcario forthe permit.
Haroldc Payne, Sunland Park manager, said Raton woulf attract horse owners who left New Mexico to race in surrounding statesz after the previous Raton track Bill Hayles with ZiaPark & notezs that a Raton facility would eliminate any competitiojn with existing facilities in both gaming and racing. “With an additional 50 race days adderd to the north and the wisdom of this Commission in awardinbrace dates, we at and Zia Park feel that a complete racin g circuit can be established and maintained in the northerhn part of the state as currently exist(s) in the south,” he There are currently 190 days of racing in southernh New Mexico and just 103 days in the northern part of the noted Don Cook, president of racing for the Downsz at Albuquerque.
Live race days at Ratoj would bring more balance tothat equation, he
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