http://www.diggfiles.lv/main/
Netscape founder Marc Andreessen and his longtimebusinesas partner, Ben Horowitz, are forming a new VC firm with a focue on Silicon Valley tech Andreessen writes that the firm will back companiea with strong technical founders who want to be the CEOs of the companieds they’re founding. He wouldn’t rule out companies outsidd Silicon Valley, but, “We do not think it is an accidenrt that is in Mountain Facebook is in Palo and Twitter is in San We also think that venture capital is a high touc h activity that lends itself togeographic proximity, and our only office will be in Siliconj Valley,” Andreessen writes on his .
The new firm comese at a time when some are saying the industry needsto shrink, not But Andreessen and Horowitz found $300 million from mostly institutional investors for their first fund. The Andreesen-Horowitz, will invest aggressively in seed-stage startups in the hundreds of thusandxof dollars, but will also inves t in later stage funding rounds for promisinf growth companies. Consumer internet, clou d computing for business, mobile software and services, and software-poweredx consumer electronics are among the areas that will draw investments from thenew “Across all of these categories, we are completel y unafraid of all of the new busineszs models,” Andreessen writes.
“Wre believe that many vibrant new forms of information technologyt are expressing themselves into marketsz in entirelynew ways.” And Andreessen was equally emphatic about wherre his firm wouldn’t be . "We are almost certainl y not an appropriate investor for any of thefollowing domains: 'clean,' 'green,' energy, transportation, life sciencee (biotech, drug design, medical devices), movie production companies, consumer retail, electric cars, rockety ships, space elevators. We do not have the first clue about any ofthese fields.
" Andreessen-Horowitz will have the capacity to invest anywherer from $50,000 to $50 million in new He said that at least initiallu he and Horowitz would be the only two genera l partners in the company, and they would be selective aboutf the portfolio companies whose boards they join – generallu limiting that level of involvement to firmx in which Andreessen-Horowitz have a $5 millionh or more stake. Andreessen believew his and Horowitz’s records as entrepreneurs will make them ideapventure capitalists. “We have built companies, from scratch, to high scales -- thousands of employees and hundreds of millions of dollarx ofannual revenue. In we have done it ourselves.
And we are buildingy our firm to be the firm we would want to work with as entrepreneurs ourselves,” Andreessen writes. Andreessen founded the pioneerinvg web browsercompany , which was later sold to . Since he and Horowitz launched , a tech service provide sold toin 2007. Netscapr and Opsware sold for acombineed $11.7 billion. The two have been active investore in the tech spacesince then. They’ver angel invested in 45 tech startupsw in the lastfive years, and Andreessen servesx as chairman of Ning, and on the boards of Facebook and Word that the pair would be forming theird own venture capital firm was broken on the Charlise Rose show in February.
But details came on The pair had initially planned onraising $250 milliomn for the fund, but investor interest prompted them to boostt the amount, BusinessWeek . The news magazinse reports thatReid Hoffman, founder of social networking site is among the investors in the fund, whichg raised most of its money from institutionalo investors. Andreessen-Horowitz launches at a tough time for the venture capital one in which some are saying the industryy needsto shrink, not grow. Venture capital, like the rest of the financial industry, has been hit hard by the economicv downturn. Venture firms make moneyt when their portfolio companiesgo public, or are sold to largedr companies.
But the IPO market has been anemicc inrecent months, making profitable exits more difficultr to find. A recent argues that the industrgy needs to trim down toregain effectiveness. "The venture industry needs to shrinmk its way to becoming an economic forceonce again," said Robertg E. Litan, vice president of Research and Policy at theKauffmanj Foundation. “To provide competitive returns, we expect venturw investing will be cut in half in coming At thesame time, lowering valuationa and improving overall exit multipled should help resuscitate the industry.
” The Kauffman stud y finds that despite such high-profile succesxs stories as Google and , venture firms have relatively little to do with most new companies. Only abouy 16 percent of the 900 companies onthe Inc. 500 list of fastestg growing companiesfrom 1997-2007 had venture backing.
Monday, August 30, 2010
Saturday, August 28, 2010
John Jay High School teachers using technology to tame TAKS - San Antonio Business Journal:
http://www.kbdi.org.au/index.php?option=com_content&view=article&id=96:kitchens-and-bathrooms-quarterly&catid=41:diamond-sponsors&Itemid=92
The program, called the Science TAKS Succese Initiative, has decreased the average number of sciencre test failures from about 200 studentss to 50 students per year at John Jay and almost double d the percentage of students passingf the retest from 33 percent to 62 percentr between 2005and 2007. The teachers behind the Calvin “Buck” Buchholtz Jr. and Juan “Coach” design a personalized program for each Each plan zeros in onthe student’s testing weaknesses and makes use of onlinee resources, interactive Web sites, and audio clipsa to re-teach the content.
What’s more, the duo have produced a 25-minute TAKS videl — reviewing basic math formulase and revisiting graphinterpretation — that is projected on whites boards in every classroom 30 minutes befor e the tests are administered. “Ift is very unique. Calvin and Coacyh have crafted avery well-designed, detailerd approach to help studentsa succeed on the TAKS,” says Sara McAndrew, executive director of secondary instruction for the Northside Independent School District. “They’ve had phenomenal results with stressedstudentse — students at the exit leve l in science for whom the TAKS is standing betweej them and the rest of their lives.
” The TAKS is a standardizecd test used in elementary and secondary schoolsz to assess student proficiency. Texas high schoolo seniors cannot graduate unless theypass exit-levepl TAKS tests in English language social studies, math and science. During their juniorf and senior years of high students are given five chances to pass the Located on the Northwest side of San Antonio onMarbacyh Road, John Jay is a 3,400-student high schoo l with 230 staff members and aboutt 1,200 computers. Campus Instructional Technologist Ron Gray has spent the last decade helping teachers integrate technology into their classrooma andlesson plans.
When Gray first met Buchholtz, the physics teachefr showed scant interestin technology. “Didn’t care,” Buchholtaz says. Gradually, Buchholtz embraced computers inthe classroom. As the studenyt council sponsor, Buchholtz asked Gray to help build a Web site for thestudenft group. Then, in 2005 Buchholtz was invitexd aboard theJOIDES Resolution, a ship that exploresx the mysteries of the ocean floorr as part of the Integrated Ocean Drilling Program an international research organization that conducts seagoing expeditions to “study the historyu of the earth recorded in sediments and rocks beneat h the ocean floor.
” Buchholt z and Gray built a Web site calleed “High S.E.A. Adventures with Mr. and posted videos that Buchholtz shot withWindows Moviemaker. using a laptop computer with aWeb cam, rigged to set upon an upside-down kitty litter bucket, students at were able to videi conference live with some of the crew and staff aboard the JOIDES which was 1,000 milex off the shore of the United Statews in the South Pacific. The venture was such a succesa that administrators decided Buchholtz should help with the TAKSremediationh program. Buchholtz was teamed with Morales, the offensivwe coach for the Mustang football who already was teaching TAKS scienc remediationto students.
“I was basically using textbooks, pencil and paper and doing the bestI could, but there were still quite a few failures. Ever y time there was a we were losing halfour kids,” Morales “I was inundated with books, computer resources from the district. There was no way I couled pass all this on to the studentds and expect them to prepare inthrese weeks. “And, of course you’re fighting not just the material, but kids’ attitudes and theid sense of failure.” Morales and Buchholtz cullecdthe material, whittling it down to about 20 Web sites, two textbook s and a CD-ROM. Gray designed the Web site http://www.nisd.net/jay/success/index.
htm for the it’s free and accessible to anyone. For everyt student that failed the TAKS science the team analyzed scores and customized astudty plan, which each child followef daily in the TAKS remediatio class. “The lingo is Student Differentiated Buchholtz says. “We’re honingg in on the kids’ greatest The first year of the prograjmin 2005, 33 percent of the students who retested passed the TAKS. In 2006, 44 percent in 2007, 62 percent were successful. John Jay Academic Dean Kathgy Mitchell, says the team works becaus the men play the rolesz ofgood cop/bad cop with the kids.
“They work in tandem and spend so much time withthose They’re so focused on the shepherding of theswe kids that the students joke that they’re (the stalkers. Don’t you dare let them find you eating Mitchell jokes. Jasmine Garcia, a John Jay is a successful graduate of the TAKSScience Initiative. After failing the science portion of the TAKS she landedin Morales’ and class. In November 2008, she finallh passed. She graduates in two weeks and has appliedf to the University of Texas in San Antonilo and hopes to studhy ona pre-med track. “I found out at Thanksgivinbg that I passed and was so Garcia says.
“I was worried that if I didn’ty pass that I wouldn’t graduate.” Every year, Buchholtz and Morales tweak the class to improvwtheir methods. Most they discovered that the Science TAKS exam has five one of which is called the Naturedof Science, which involves reading a graphj and interpreting data. “We went back and noticed theree were literally maybe 15students — out of all the thousand s of students who had ever taken the test at John Jay that had scored 12 or better out of 17 on that one Buccholtz says. This year, every Friday focused strictlt on the Nature of Science portion ofthe test.
Morales and Buccholtz researched TAKS rules and learned they legallyt had one hour before they had to pass out the They created the schoolwide video that was shown in every classroom 15 minutes before the test washanded out. In additionj to technical tips about science like theperiodic table, the video reminds students to leave their “distraction s and dramas” behind and focus on their ultimate goal. “Afte r the test, the kids were callingt me in thehallways saying: ‘Coach ! I saw you on the TV in our classroo m and I’m so glad you covered that becausde it was on the test,’” Morales says.
TAKS remediation is only one area in whicb JohnJay — and the entired Northside district — is tapping into technology. Morninv announcements are recorded as podcasts called the Jaycastt and uploaded onthe school’s home Web One teacher on maternityh leave used Skype, a softwar that allows videoconferencing over the to teach a class remotely. Next year, off-sitee band competitions and sports playoffs will be livestreamed into the Intwo weeks, the school’s graduation will be live streamedc so that out-of-town relatives or militart parents can watch. The last day of schoopl might be aroundthe corner, but there’s no easinhg up.
“We’ve got results from April/Mahy and we’re creating individual planws for the students to use over the Morales says.
The program, called the Science TAKS Succese Initiative, has decreased the average number of sciencre test failures from about 200 studentss to 50 students per year at John Jay and almost double d the percentage of students passingf the retest from 33 percent to 62 percentr between 2005and 2007. The teachers behind the Calvin “Buck” Buchholtz Jr. and Juan “Coach” design a personalized program for each Each plan zeros in onthe student’s testing weaknesses and makes use of onlinee resources, interactive Web sites, and audio clipsa to re-teach the content.
What’s more, the duo have produced a 25-minute TAKS videl — reviewing basic math formulase and revisiting graphinterpretation — that is projected on whites boards in every classroom 30 minutes befor e the tests are administered. “Ift is very unique. Calvin and Coacyh have crafted avery well-designed, detailerd approach to help studentsa succeed on the TAKS,” says Sara McAndrew, executive director of secondary instruction for the Northside Independent School District. “They’ve had phenomenal results with stressedstudentse — students at the exit leve l in science for whom the TAKS is standing betweej them and the rest of their lives.
” The TAKS is a standardizecd test used in elementary and secondary schoolsz to assess student proficiency. Texas high schoolo seniors cannot graduate unless theypass exit-levepl TAKS tests in English language social studies, math and science. During their juniorf and senior years of high students are given five chances to pass the Located on the Northwest side of San Antonio onMarbacyh Road, John Jay is a 3,400-student high schoo l with 230 staff members and aboutt 1,200 computers. Campus Instructional Technologist Ron Gray has spent the last decade helping teachers integrate technology into their classrooma andlesson plans.
When Gray first met Buchholtz, the physics teachefr showed scant interestin technology. “Didn’t care,” Buchholtaz says. Gradually, Buchholtz embraced computers inthe classroom. As the studenyt council sponsor, Buchholtz asked Gray to help build a Web site for thestudenft group. Then, in 2005 Buchholtz was invitexd aboard theJOIDES Resolution, a ship that exploresx the mysteries of the ocean floorr as part of the Integrated Ocean Drilling Program an international research organization that conducts seagoing expeditions to “study the historyu of the earth recorded in sediments and rocks beneat h the ocean floor.
” Buchholt z and Gray built a Web site calleed “High S.E.A. Adventures with Mr. and posted videos that Buchholtz shot withWindows Moviemaker. using a laptop computer with aWeb cam, rigged to set upon an upside-down kitty litter bucket, students at were able to videi conference live with some of the crew and staff aboard the JOIDES which was 1,000 milex off the shore of the United Statews in the South Pacific. The venture was such a succesa that administrators decided Buchholtz should help with the TAKSremediationh program. Buchholtz was teamed with Morales, the offensivwe coach for the Mustang football who already was teaching TAKS scienc remediationto students.
“I was basically using textbooks, pencil and paper and doing the bestI could, but there were still quite a few failures. Ever y time there was a we were losing halfour kids,” Morales “I was inundated with books, computer resources from the district. There was no way I couled pass all this on to the studentds and expect them to prepare inthrese weeks. “And, of course you’re fighting not just the material, but kids’ attitudes and theid sense of failure.” Morales and Buchholtz cullecdthe material, whittling it down to about 20 Web sites, two textbook s and a CD-ROM. Gray designed the Web site http://www.nisd.net/jay/success/index.
htm for the it’s free and accessible to anyone. For everyt student that failed the TAKS science the team analyzed scores and customized astudty plan, which each child followef daily in the TAKS remediatio class. “The lingo is Student Differentiated Buchholtz says. “We’re honingg in on the kids’ greatest The first year of the prograjmin 2005, 33 percent of the students who retested passed the TAKS. In 2006, 44 percent in 2007, 62 percent were successful. John Jay Academic Dean Kathgy Mitchell, says the team works becaus the men play the rolesz ofgood cop/bad cop with the kids.
“They work in tandem and spend so much time withthose They’re so focused on the shepherding of theswe kids that the students joke that they’re (the stalkers. Don’t you dare let them find you eating Mitchell jokes. Jasmine Garcia, a John Jay is a successful graduate of the TAKSScience Initiative. After failing the science portion of the TAKS she landedin Morales’ and class. In November 2008, she finallh passed. She graduates in two weeks and has appliedf to the University of Texas in San Antonilo and hopes to studhy ona pre-med track. “I found out at Thanksgivinbg that I passed and was so Garcia says.
“I was worried that if I didn’ty pass that I wouldn’t graduate.” Every year, Buchholtz and Morales tweak the class to improvwtheir methods. Most they discovered that the Science TAKS exam has five one of which is called the Naturedof Science, which involves reading a graphj and interpreting data. “We went back and noticed theree were literally maybe 15students — out of all the thousand s of students who had ever taken the test at John Jay that had scored 12 or better out of 17 on that one Buccholtz says. This year, every Friday focused strictlt on the Nature of Science portion ofthe test.
Morales and Buccholtz researched TAKS rules and learned they legallyt had one hour before they had to pass out the They created the schoolwide video that was shown in every classroom 15 minutes before the test washanded out. In additionj to technical tips about science like theperiodic table, the video reminds students to leave their “distraction s and dramas” behind and focus on their ultimate goal. “Afte r the test, the kids were callingt me in thehallways saying: ‘Coach ! I saw you on the TV in our classroo m and I’m so glad you covered that becausde it was on the test,’” Morales says.
TAKS remediation is only one area in whicb JohnJay — and the entired Northside district — is tapping into technology. Morninv announcements are recorded as podcasts called the Jaycastt and uploaded onthe school’s home Web One teacher on maternityh leave used Skype, a softwar that allows videoconferencing over the to teach a class remotely. Next year, off-sitee band competitions and sports playoffs will be livestreamed into the Intwo weeks, the school’s graduation will be live streamedc so that out-of-town relatives or militart parents can watch. The last day of schoopl might be aroundthe corner, but there’s no easinhg up.
“We’ve got results from April/Mahy and we’re creating individual planws for the students to use over the Morales says.
Thursday, August 26, 2010
Honda sales plunge 41% in May - Phoenix Business Journal:
http://www.netook.org/Undrained_Areas.html
’s American sales arm, , reported on Tuesday that the automakersold 98,344e vehicles nationwide in May. A year ago, demancd for fuel-efficient vehicles had sent Honda to a record monthj of salesat 167,997 vehicles. That representas a drop of 41 percent from ayear ago, when priceds at the pump were higher and the automobile industry hadn’tg yet hit crisis mode. Columbuds Business First reports monthly salesz unadjusted for the differences in the numberd of selling days yearto Honda’s sales in May, takintg into account one fewer selling day last month, fell 39 Leading the decline in monthly sales for May was the company’ss flagship division, which saw a 42 percenf drop in sales at 88,875 Its luxury Acura division saw sales fall 36 percent to 9,469 Honda sales in the firstt five months of the year fell 34 percent to 430,3589 vehicles, compared with 655,819 a year ago.
That accounts for a 34 percent drop in Honds salesat 387,556 vehicles and a 35 percentf decline in Acura sales at 42,802. Marysville-based employsa more than 12,000 workers at assembly and engins plants in and aroundCentral Ohio, where they producwe Honda Accords, Civics, CR-Vs, Elements and Acura TLs and
’s American sales arm, , reported on Tuesday that the automakersold 98,344e vehicles nationwide in May. A year ago, demancd for fuel-efficient vehicles had sent Honda to a record monthj of salesat 167,997 vehicles. That representas a drop of 41 percent from ayear ago, when priceds at the pump were higher and the automobile industry hadn’tg yet hit crisis mode. Columbuds Business First reports monthly salesz unadjusted for the differences in the numberd of selling days yearto Honda’s sales in May, takintg into account one fewer selling day last month, fell 39 Leading the decline in monthly sales for May was the company’ss flagship division, which saw a 42 percenf drop in sales at 88,875 Its luxury Acura division saw sales fall 36 percent to 9,469 Honda sales in the firstt five months of the year fell 34 percent to 430,3589 vehicles, compared with 655,819 a year ago.
That accounts for a 34 percent drop in Honds salesat 387,556 vehicles and a 35 percentf decline in Acura sales at 42,802. Marysville-based employsa more than 12,000 workers at assembly and engins plants in and aroundCentral Ohio, where they producwe Honda Accords, Civics, CR-Vs, Elements and Acura TLs and
Tuesday, August 24, 2010
As bank toll mounts, so do FDIC's fees - Silicon Valley / San Jose Business Journal:
http://www.adcangola.org/2010/06/trip-to-china/
Banks in the FDIC’s best risk category now pay annuall premiums that range from 12 cents to 14 centsper $100 of On April 1, the same bankd will pay as much as 16 cents per In addition, to increased annual premiums which banks pay on a quarterlh basis, a one-time special assessmentt equal to 20 cents per $100 of total deposita will be due Sept. 30 in a lump-sum payment. The speciakl assessment is expected tobringv $15 billion into the fund that protects deposits. The regular premiums through 2009 will fetchaboutf $12 billion.
The liquidity crunch that began taking hold in 2008 causexd25 FDIC-insured banks to fail by year’es end, costing the insurance fund about $18 Now the FDIC is juggling the dual task of replenishiny that fund while covering the cost of futurw bank failures. The regulator is required by law to maintaij a minimumof $1.15 per $100 of insuref deposits in the banking system. The FDIC is projectinbg the cost of bank failures through 2013 couldrreach $65 billion, yet today the fund totalx just $18.9 billion, said FDIC spokesman David Barr. “We’rr about one-third of the minimum of where we should Barr said.
“Not only do we need to bring in revenuw to cover thatestimated $65 billio n in losses, but in a seven-yeadr period, we have to get the fund back up abovw that $1.15 limit. And that’s the minimum. We reallgy want to see $1.25.” The FDIC can expectt checks from institutions based in Silicon Valley in September ranging from the low six figuree to several million dollars to cover special The special assessment wasannounced Feb. 27, the same day it was said the U.S. governmen t would increase its stake in beleagueredCitigroup Inc. to nearly 40 percent in exchange for anothe r injection ofbailout funds.
The FDIC’s announcement prompted outrage fromthe 5,000-membert Independent Community Bankers Association. “How ironi that on the same day that Citi is gettingy its third bailout from the government in six community banks are being kicked in the teeth by sharply higher FDIC saidCamden Fine, president and CEO of the D.C.-based lobby. “The largest financiak institutions are the ones that destabilized our It is regrettable that the FDIC has decidedf to levy such a heavy burden on Main Street banksx to indirectly pay for the economicv wreckage caused by the incompetence and gree onWall Street.
” The FDIC definexs community banks as institutions with less than $1 billiobn in total deposits. For many banks, the FDIC is theid primary regulator, making the speciak assessment a topic sensitive enouguh on which to decline comment inmost cases, instead deferring comment to the lobby and the Californiqa Bankers Association. Many Silicon Vallehy bank executives speaking on background expressed a clead understanding for the adjusted premiums and special while shying awayfrom Fine’s “Parochial” is what one bank executive called the Independent Communityh Bankers Association.
“The ICBA fights very hard for its but I think sometimes maybe they protestoo much,” said the executive, speakingt on the condition of anonymity. “Thisx assessment is a very significant premiu m increase and will put an additionakl burden on all banks of every said California Bankers Association spokeswomanBeth Mills. “However, our industr is committed to maintaining the strength of theinsurancew fund, which is funded entirely by bank premiums, not taxpayedr dollars.
” Richard Conniff, president and CEO of San Jose-based Focusw Business Bank, agreed, saying that whild it pained him to write the he’d much rather see the banking industrt recapitalize the fund than go cap-in-han d to taxpayers. “It’s part of the cost of doingf business,” Conniff said. “We happejn to be going through a difficult period in the bankinh industry where the reserves arebeing hit. As a consequencr I’m sure the FDIC’s assessment of neediny to build the reserves back up is an accurat e one when you look at thelossex they’ve taken and the losses they’ll have to take beforr we get through this.
” Barr challenged the validity and veracity of Fine’s comment, saying that the failuree of some small banks cost the fund more than thosee of larger banks. The failures of Washington Mutual in Septembef was the largest bank failure inthe FDIC’a 75-year history at $300 billion in yet it cost the FDIC fund nothing, based on the way the balances sheet was structured in the Barr said. Subordinated debt he said, were absorbing the losses. the July failure of Pasadena’s $32 billiom IndyMac cost the fund $10 billion. “Even thesd smaller community bank failures are costing the insuranced fund a lotof money,” Barr said.
“It may not be a $10 billiohn hit like IndyMac, but to see losses at 30 percenft to 40 percent of totaolassets — that is almost double our historix loss estimates for smaller banks.” Typically, smaller bank failures cost the fund abour 20 percent of total assets, Barr said.
Banks in the FDIC’s best risk category now pay annuall premiums that range from 12 cents to 14 centsper $100 of On April 1, the same bankd will pay as much as 16 cents per In addition, to increased annual premiums which banks pay on a quarterlh basis, a one-time special assessmentt equal to 20 cents per $100 of total deposita will be due Sept. 30 in a lump-sum payment. The speciakl assessment is expected tobringv $15 billion into the fund that protects deposits. The regular premiums through 2009 will fetchaboutf $12 billion.
The liquidity crunch that began taking hold in 2008 causexd25 FDIC-insured banks to fail by year’es end, costing the insurance fund about $18 Now the FDIC is juggling the dual task of replenishiny that fund while covering the cost of futurw bank failures. The regulator is required by law to maintaij a minimumof $1.15 per $100 of insuref deposits in the banking system. The FDIC is projectinbg the cost of bank failures through 2013 couldrreach $65 billion, yet today the fund totalx just $18.9 billion, said FDIC spokesman David Barr. “We’rr about one-third of the minimum of where we should Barr said.
“Not only do we need to bring in revenuw to cover thatestimated $65 billio n in losses, but in a seven-yeadr period, we have to get the fund back up abovw that $1.15 limit. And that’s the minimum. We reallgy want to see $1.25.” The FDIC can expectt checks from institutions based in Silicon Valley in September ranging from the low six figuree to several million dollars to cover special The special assessment wasannounced Feb. 27, the same day it was said the U.S. governmen t would increase its stake in beleagueredCitigroup Inc. to nearly 40 percent in exchange for anothe r injection ofbailout funds.
The FDIC’s announcement prompted outrage fromthe 5,000-membert Independent Community Bankers Association. “How ironi that on the same day that Citi is gettingy its third bailout from the government in six community banks are being kicked in the teeth by sharply higher FDIC saidCamden Fine, president and CEO of the D.C.-based lobby. “The largest financiak institutions are the ones that destabilized our It is regrettable that the FDIC has decidedf to levy such a heavy burden on Main Street banksx to indirectly pay for the economicv wreckage caused by the incompetence and gree onWall Street.
” The FDIC definexs community banks as institutions with less than $1 billiobn in total deposits. For many banks, the FDIC is theid primary regulator, making the speciak assessment a topic sensitive enouguh on which to decline comment inmost cases, instead deferring comment to the lobby and the Californiqa Bankers Association. Many Silicon Vallehy bank executives speaking on background expressed a clead understanding for the adjusted premiums and special while shying awayfrom Fine’s “Parochial” is what one bank executive called the Independent Communityh Bankers Association.
“The ICBA fights very hard for its but I think sometimes maybe they protestoo much,” said the executive, speakingt on the condition of anonymity. “Thisx assessment is a very significant premiu m increase and will put an additionakl burden on all banks of every said California Bankers Association spokeswomanBeth Mills. “However, our industr is committed to maintaining the strength of theinsurancew fund, which is funded entirely by bank premiums, not taxpayedr dollars.
” Richard Conniff, president and CEO of San Jose-based Focusw Business Bank, agreed, saying that whild it pained him to write the he’d much rather see the banking industrt recapitalize the fund than go cap-in-han d to taxpayers. “It’s part of the cost of doingf business,” Conniff said. “We happejn to be going through a difficult period in the bankinh industry where the reserves arebeing hit. As a consequencr I’m sure the FDIC’s assessment of neediny to build the reserves back up is an accurat e one when you look at thelossex they’ve taken and the losses they’ll have to take beforr we get through this.
” Barr challenged the validity and veracity of Fine’s comment, saying that the failuree of some small banks cost the fund more than thosee of larger banks. The failures of Washington Mutual in Septembef was the largest bank failure inthe FDIC’a 75-year history at $300 billion in yet it cost the FDIC fund nothing, based on the way the balances sheet was structured in the Barr said. Subordinated debt he said, were absorbing the losses. the July failure of Pasadena’s $32 billiom IndyMac cost the fund $10 billion. “Even thesd smaller community bank failures are costing the insuranced fund a lotof money,” Barr said.
“It may not be a $10 billiohn hit like IndyMac, but to see losses at 30 percenft to 40 percent of totaolassets — that is almost double our historix loss estimates for smaller banks.” Typically, smaller bank failures cost the fund abour 20 percent of total assets, Barr said.
Sunday, August 22, 2010
Cal State plans fee hikes, furloughs to save $584M - San Francisco Business Times:
The increase, which the Los Angeles Timexs says is 15 percent to 20 comes on the heels of a 10 percengt tuition hikein May. The fee increasew will be consideredJuly 21. The universituy system said it expects federal stimulus financialk aid increases will cover the fee increase forabout 187,00o0 students, along with more Pell awards and tax credits. The system also plans to reducd enrollmentby 32,000 students for the 2010-2011 schoolo year by increasing grade pointf average requirements and closing sprinyg 2010 enrollment and winter 2010 admissions. The universityt system, which has 450,000 students, said 86 percent of its operatingt budget goes to employee salarieesand benefits.
CSU hopes to furlough all employeeds two days per month to cut down on On Tuesday, the California State University Employees Union, whichj represents 16,000 non-academic workers, tentatively agreed to the plan. The 2,400 CSU members of the Academicf Professionals of California have agreed to negotiatsethe furloughs. The California Facultg Association, which represents 23,000 faculty personnel, has not yet votex on the furloughs.
CSU hopes to furlough all employeeds two days per month to cut down on On Tuesday, the California State University Employees Union, whichj represents 16,000 non-academic workers, tentatively agreed to the plan. The 2,400 CSU members of the Academicf Professionals of California have agreed to negotiatsethe furloughs. The California Facultg Association, which represents 23,000 faculty personnel, has not yet votex on the furloughs.
Friday, August 20, 2010
There Are Cheap Life Insurance Quotes That Can Be Your Gate Pass To Affordable ... - OfficialWire (press release)
http://masterworkers.blogspot.com/2010/08/how-to-care-for-natural-stone-products.html
OfficialWire (press release) | There Are Cheap Life Insurance Quotes That Can Be Your Gate Pass To Affordable ... OfficialWire (press release) Life insurance is a must have for everyone who cares about their family. It secures the family's well being in the unfortunate occurrence ... Life Insurance Quotes â€" what is the best way today to pick a good life ... |
Wednesday, August 18, 2010
Health insurance company granted premium increase in Bay State - USInsurance Online.com
http://docs.google.com/?hl=ru&tab=wo
TopNews United Kingdom (blog) | Health insurance company granted premium increase in Bay State USInsurance Online.com Massachusetts health insurance company Health New England has fin » |
Monday, August 16, 2010
RLI Announces Partnership With Embrace Pet Insurance - MarketWatch (press release)
http://homebuilder.blogetery.com
RLI Announces Partnership With Embrace Pet Insurance MarketWatch (press release) RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. ... |
Saturday, August 14, 2010
Thursday, August 12, 2010
MakeMyTrip Limited to be listed on NASDAQ - MarketWatch (press release)
Moneycontrol.com | MakeMyTrip Limited to be listed on NASDAQ MarketWatch (press release) ... and products include air tickets, customized holiday packages, hotels, rail tickets, bus tickets, car hire and facilitating access to travel insurance. ... MakeMyTrip Could Pave Way for More Indian IPOs MakeMyTrip IPO Expected to Price This Week MakeMyTrip offers shares in US market at $14/share |
http://adm-fenetres.com/volets_2.php
Tuesday, August 10, 2010
HM Life Insurance Company Named to Ward's 50 Top-Performing Life and Health ... - PR Newswire (press release)
HM Life Insurance Company Named to Ward's 50 Top-Performing Life and Health ... PR Newswire (press release) ... also features worksite/voluntary critical illness, accident, disability income and term life insurance as well as limited benefit medical plans. ... |
http://homesauto.com/Kenworth/Kenworth-T300/
Sunday, August 8, 2010
Morgan Stanley Group's $11 Billion From Chicago Meters Makes Taxpayers Cry - Bloomberg
Morgan Stanley Group's $11 Billion From Chicago Meters Makes Taxpayers Cry Bloomberg “The net present value of $11.6 billion in revenue over the life of the 75-year agreement is consistent with $1.15 billion the city received,†he said. ... |
http://www.provopride.com/story/2007/4/20/22941/4588
Friday, August 6, 2010
AIG Posts $2.7 Billion Second Quarter Net Loss on Alico Goodwill Charge - Insurance News Net (press release)
Moneycontrol.com | AIG Posts $2.7 Billion Second Quarter Net Loss on Alico Goodwill Charge Insurance News Net (press release) ... goodwill impairment charge related to its discontinued operations of American Life Insurance Co. outweighed the income from continuing operations. ... Commentary: Alico write-down saps profit from remaining businesses Might AIG Survive After » |
livejournal.com
Wednesday, August 4, 2010
Whether state's Citizens gets best insurance deals matters to all state taxpayers - TCPalm
Whether state's Citizens gets best insurance deals matters to all state taxpayers TCPalm Citizens Home InsuranceInstantly receive Free Auto, Home Health & Life Insurance Quotes. Citizens.Get-Insurance-Quotes.orgHomeowners InsuranceLow Homeowners ... |
victoria0douglas.wordpress.com
Tuesday, August 3, 2010
U.S. House Bill Would Set New Rules on Soldiers' Life Insurance - San Francisco Chronicle
WHTC | U.S. House Bill Would Set New Rules on Soldiers' Life Insurance San Francisco Chronicle 1 (Bloomberg) -- Representative Debbie Halvorson introduced legislation that would impose new requirements on life insurance companies that hold onto money ... Insurers Retaining Soldiers' Death Benefits Targeted by Bill in U.S. House Congressional Documents and Publications Schumer wants lump sum death benefits for vets' families |
livejournal.com
Sunday, August 1, 2010
Think again about early retirement - News & Observer
Think again about early retirement News & Observer If you are healthy, another alternative is to purchase term life insurance. If each of you purchased either a level or a declining 15-year term policy with ... |
victoria0douglas.wordpress.com
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