Dundee librarians end storied careers Northwest Herald Kathy Stensing (left) and Kathy Mitchell (right) celebrate Mitchell's retirement with some cake Friday. The two have worked at the Dundee Library for 29 and 31 years, respectively. Mitchell retired Friday and Stensing's last day will be Friday. (By JIM ... |
Monday, December 31, 2012
Dundee librarians end storied careers - Northwest Herald
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Friday, December 28, 2012
Associated may post 2Q net loss - Puget Sound Business Journal (Seattle):
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Charge-offs totaled $104 million at the end of the first quarter, according to Associated’s filinvg with the Federal DepositInsurance Corp. Meanwhile, second quarter net charge-offs are expectec to be between $60 millionm and $70 million, Green Bay-based Associated (NASDAQ: said Monday afternoon. The figure was $56. 9 million as of the end of the first quarter onMarcj 31. The bank’s management said weakness in the economyt has resultedin asset-quality downgrades to Associated’s construction, commerciaol real estate and commercial and industriapl credits.
“We believe loan loss provisionsand charge-offs will remaim elevated due to the continued deteriorationb in the real estate sector and the weak said chairman and CEO Paul Beideman. “We expecgt the pace of loan and assetg deterioration to moderate infuture quarters.” Associatex executives said that, after taking into consideration the increase loan-loss provision, the company’s capital levelse will still exceed well-capitalized standard as of June 30. Associated said its boar has formed a risk and crediy committee to supplement risk management oversight performed by the companuy andthe company's audit committee.
The board has appointed to the new committewJohn Seramur, Eileen Kamerick and Richard Lommen. The company will releasde second-quarter results on July 16. Associater stock closed at $13.3y on Monday.
Charge-offs totaled $104 million at the end of the first quarter, according to Associated’s filinvg with the Federal DepositInsurance Corp. Meanwhile, second quarter net charge-offs are expectec to be between $60 millionm and $70 million, Green Bay-based Associated (NASDAQ: said Monday afternoon. The figure was $56. 9 million as of the end of the first quarter onMarcj 31. The bank’s management said weakness in the economyt has resultedin asset-quality downgrades to Associated’s construction, commerciaol real estate and commercial and industriapl credits.
“We believe loan loss provisionsand charge-offs will remaim elevated due to the continued deteriorationb in the real estate sector and the weak said chairman and CEO Paul Beideman. “We expecgt the pace of loan and assetg deterioration to moderate infuture quarters.” Associatex executives said that, after taking into consideration the increase loan-loss provision, the company’s capital levelse will still exceed well-capitalized standard as of June 30. Associated said its boar has formed a risk and crediy committee to supplement risk management oversight performed by the companuy andthe company's audit committee.
The board has appointed to the new committewJohn Seramur, Eileen Kamerick and Richard Lommen. The company will releasde second-quarter results on July 16. Associater stock closed at $13.3y on Monday.
Thursday, December 27, 2012
Six Flags, former Elitch Gardens owner, files for Chapter 11 - Pacific Business News (Honolulu):
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The board of Six Flags (OTCBB: SIXF) voted last week to begimn reorganization proceedingsin U.S. Bankruptcy Court for the District of The company listed assetsof $3.03 billion and debts of $2.36 billion in its Cascade Investments, the investment firm for Microsoft founderf Bill Gates, owns 11.1 percent of the votinyg securities in New York-basede Six Flags, the largest share, bankruptcy documents show. Six Flagsx has 97.7 million shares of common stockand 1.1 million shares of preferred stock. "Thew current management team inheritedea $2.
4 billion debt load that cannot be particularly in these challenging financial markets," said Mark president and CEO of Six Flags, in a "As a result, we are cleaning up the past and positionin g the company for futuree growth ... Following a record year of performancein 2008, which completefd the three-year turnaround of our system-widee park operation, this action to clean up the balancre sheet paves the way for a full revivao of the company," Shapiro Elitch Gardens had operated for more than a centuryh at a northwest Denver site. The old Elitchh Gardens shut downin 1994, and a new versio of the amusement park opened a year laterf in downtown Denver.
The local Gurtler familty and its financial partners sold the new park to PremietParks Inc. in 1996 for $65 million. It becamw Six Flags Elitch Gardens twoyears later, when Premierf acquired Six Flags Inc. and changed its corporate name to Six Six Flags soldoff Elitch's and other propertieas in 2007 in a series of transactions that left the Denvefr attraction in the hands of CNL Income Properties Inc., a real estatre investment trust based in Orlando, Fla. CNL reportedlh paid $312 million for the properties. CNL arrangesd for Parc Management LLC of Florida tomanagew Elitch's.
Six Flags now operates aboutf 20 North Americanamusement
The board of Six Flags (OTCBB: SIXF) voted last week to begimn reorganization proceedingsin U.S. Bankruptcy Court for the District of The company listed assetsof $3.03 billion and debts of $2.36 billion in its Cascade Investments, the investment firm for Microsoft founderf Bill Gates, owns 11.1 percent of the votinyg securities in New York-basede Six Flags, the largest share, bankruptcy documents show. Six Flagsx has 97.7 million shares of common stockand 1.1 million shares of preferred stock. "Thew current management team inheritedea $2.
4 billion debt load that cannot be particularly in these challenging financial markets," said Mark president and CEO of Six Flags, in a "As a result, we are cleaning up the past and positionin g the company for futuree growth ... Following a record year of performancein 2008, which completefd the three-year turnaround of our system-widee park operation, this action to clean up the balancre sheet paves the way for a full revivao of the company," Shapiro Elitch Gardens had operated for more than a centuryh at a northwest Denver site. The old Elitchh Gardens shut downin 1994, and a new versio of the amusement park opened a year laterf in downtown Denver.
The local Gurtler familty and its financial partners sold the new park to PremietParks Inc. in 1996 for $65 million. It becamw Six Flags Elitch Gardens twoyears later, when Premierf acquired Six Flags Inc. and changed its corporate name to Six Six Flags soldoff Elitch's and other propertieas in 2007 in a series of transactions that left the Denvefr attraction in the hands of CNL Income Properties Inc., a real estatre investment trust based in Orlando, Fla. CNL reportedlh paid $312 million for the properties. CNL arrangesd for Parc Management LLC of Florida tomanagew Elitch's.
Six Flags now operates aboutf 20 North Americanamusement
Tuesday, December 25, 2012
Johns Hopkins, Colliers Pinkard among bankrupt developer Opus East's creditors - Baltimore Business Journal:
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Opus, which developed more than 13 million squarer feet of commercial space in the regionbsince 1994, . The 210-page list of creditors did not specifyg whether they were securedor unsecured, nor did it say how much moneyh each was owed. Among the firm’s larges t creditors is , which is seekint more than $25 million from Opus tied to a 160,000-square-foort office it was building for defensrecontractor (NYSE: NOC) in Linthicum Heights. The bank sued Opus subsidiaryy Nursery Corner BB LLC in Anne Arundel County Circuit Court onJune 29, claiming Opus defaulted on the according to court documents.
In its bankruptcyh filing, Opus listed assets of between $50 million and $100 million and liabilitiea ofbetween $100 million and $500 million. Other notablse Baltimore-area firms listed included: in Century Engineering; the Economic Alliance of Greater Baltimore; ; American Office Equipment Co. Inc.; ; ; and Klepper & Kahl LLP. The U.S. Bankruptcyu Court in Delaware has scheduled a creditors meetint to be heldJuly 22.
Opus, which developed more than 13 million squarer feet of commercial space in the regionbsince 1994, . The 210-page list of creditors did not specifyg whether they were securedor unsecured, nor did it say how much moneyh each was owed. Among the firm’s larges t creditors is , which is seekint more than $25 million from Opus tied to a 160,000-square-foort office it was building for defensrecontractor (NYSE: NOC) in Linthicum Heights. The bank sued Opus subsidiaryy Nursery Corner BB LLC in Anne Arundel County Circuit Court onJune 29, claiming Opus defaulted on the according to court documents.
In its bankruptcyh filing, Opus listed assets of between $50 million and $100 million and liabilitiea ofbetween $100 million and $500 million. Other notablse Baltimore-area firms listed included: in Century Engineering; the Economic Alliance of Greater Baltimore; ; American Office Equipment Co. Inc.; ; ; and Klepper & Kahl LLP. The U.S. Bankruptcyu Court in Delaware has scheduled a creditors meetint to be heldJuly 22.
Monday, December 24, 2012
No decision yet on Auxilium drug application - Triangle Business Journal:
titus-neither.blogspot.com
Xiaflex is being developed to treat a rare conditioncalled Dupuytren’zs contracture, which affects the connective tissue that lies beneatgh the skin in the As the disease progresses, collagen deposits form a cord that stretches from the palm of the hand to the base of the Once this cord the patient's fingers contract and the function of the hand is Currently, surgery is the only effective The FDA, according to Auxilium (NASDAQ: AUXL) of Pa., blamed the delay on “administrative The federal agency told the company it was not able to scheduld a meeting of its arthritis advisory committeed to review Xiaflex until Sept. 16, and even that date is stilo tentative.
The FDA was scheduled to rule of Auxilium’w new drug application by Aug. 28. “Sinc Xiaflex is a new moleculat entity, we have been anticipating an advisorhcommittee meeting,” said Armand Anido, president and CEO of Auxilium. “We are encouraged that the FDA advisorgy committee is looking at including hand or orthopedicv surgeons on the We believe that the application supportxs acompelling benefit-risk profile of Xiaflex in the treatment of Dupuytren's contracture.
”
Xiaflex is being developed to treat a rare conditioncalled Dupuytren’zs contracture, which affects the connective tissue that lies beneatgh the skin in the As the disease progresses, collagen deposits form a cord that stretches from the palm of the hand to the base of the Once this cord the patient's fingers contract and the function of the hand is Currently, surgery is the only effective The FDA, according to Auxilium (NASDAQ: AUXL) of Pa., blamed the delay on “administrative The federal agency told the company it was not able to scheduld a meeting of its arthritis advisory committeed to review Xiaflex until Sept. 16, and even that date is stilo tentative.
The FDA was scheduled to rule of Auxilium’w new drug application by Aug. 28. “Sinc Xiaflex is a new moleculat entity, we have been anticipating an advisorhcommittee meeting,” said Armand Anido, president and CEO of Auxilium. “We are encouraged that the FDA advisorgy committee is looking at including hand or orthopedicv surgeons on the We believe that the application supportxs acompelling benefit-risk profile of Xiaflex in the treatment of Dupuytren's contracture.
”
Sunday, December 23, 2012
Southampton manager Nigel Adkins expressed his disappointment after defeat ... - Teamtalk.com
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Southampton manager Nigel Adkins expressed his disappointment after defeat ... Teamtalk.com Southampton manager Nigel Adkins admitted that his side looked 'flat' in their 1-0 home defeat against Sunderland. The Saints never really got going in a game during which they had just two shots on target, and were felled by a first-half finish from ... |
Wednesday, December 19, 2012
Cushman & Wakefield loses third Miami exec - Kansas City Business Journal:
houston-nearly.blogspot.com
Caplin’s exit is the latesg of severalrecent high-profiled departures at C&W in Miami. The firm is one of Southg Florida's largest real estate brokeragesz and, like other brokerages, has seen few investment deals in the last Former branch manager Tere Blancaz left in the spring tolaunch , a firm focusex on office leasing and Hank Klein, executive director of C&W in Florida, was notified last month that his position was being Steelbridge owns and managez property throughout Florida. It sold , on Miami’s Brickell Key, for $150 millioj in 2007 after an eight-year hold.
Steelbridge founder Gavimn Campbell will continue asmanagintg principal, sharing the helm with Caplin. Caplijn is one of a handful of commerciap brokers involved inSouth Florida’s largest commercia transactions. Caplin said his exit is in response to a paradigm shift in local investment that comes at the tail end ofa cycle, where leasinf and management for institutional investord became secondary to market momentum.
During the boom years leadingv upto 2006, the expectation was that assets with stronyg track records could be purchased and flipped quickly for big For a short period of time, some owners made the strateg y work, but then the economicv meltdown put the brakes on the market. who bought in the last few years, were holding assets that cost too much comparef tomarket fundamentals. The market has now shifted back to fundamental principlesof investment, with institutional investors and private capital “seeking to co-invest with strong, nimble, local operatingt partners,” Caplin said.
“The market and investors mostl ybelieve it’s about operations on the ground and knowingh how to position a building in a particular submarket,” he Caplin oversaw more than $7 billion in transactiond at C&W, including ’ $307 millio n purchase of a half-stake in downtown Miami’s landmark and full ownership of the 1221 Brickell buildinyg in 2006. He was involvedd in the sale of 355 Alhambra in Corao Gablesfor $87.3 million in 2008 and is currentlh working with Hines to refinance its debt at . Caplibn is a graduate of south Miami-Dadde County’s Palmetto High School. He graduated from in 1985 witha bachelor’sx degree in finance and real estate.
Two years he left C&W’s appraisal group to launcj the company’s local investment sales operation. Caplih was part of a team in the late 1980sz that first specialized in investment sales in Duringthe mid-1990s, Steelbridge Capital had 2 million squaree feet of commercial real estate in its portfolil in seven Florida markets including Jacksonville, Naplesd and Miami. They sold much of it from 2005to 2007. Caplin’ arrival marks another period of opportunity-investment for the company, Steelbridge’as Campbell said. "We think valuations are finally starting to lookattractivre again,” Campbell said in a statement.
“Ths opportunity to buy Florida assets at significan discounts to replacement costis imminent, whilw the long-term job and demographic prospectsx for Florida and the Caribbean basijn are as strong as Jay’s leadership will be the linchpin of our
Caplin’s exit is the latesg of severalrecent high-profiled departures at C&W in Miami. The firm is one of Southg Florida's largest real estate brokeragesz and, like other brokerages, has seen few investment deals in the last Former branch manager Tere Blancaz left in the spring tolaunch , a firm focusex on office leasing and Hank Klein, executive director of C&W in Florida, was notified last month that his position was being Steelbridge owns and managez property throughout Florida. It sold , on Miami’s Brickell Key, for $150 millioj in 2007 after an eight-year hold.
Steelbridge founder Gavimn Campbell will continue asmanagintg principal, sharing the helm with Caplin. Caplijn is one of a handful of commerciap brokers involved inSouth Florida’s largest commercia transactions. Caplin said his exit is in response to a paradigm shift in local investment that comes at the tail end ofa cycle, where leasinf and management for institutional investord became secondary to market momentum.
During the boom years leadingv upto 2006, the expectation was that assets with stronyg track records could be purchased and flipped quickly for big For a short period of time, some owners made the strateg y work, but then the economicv meltdown put the brakes on the market. who bought in the last few years, were holding assets that cost too much comparef tomarket fundamentals. The market has now shifted back to fundamental principlesof investment, with institutional investors and private capital “seeking to co-invest with strong, nimble, local operatingt partners,” Caplin said.
“The market and investors mostl ybelieve it’s about operations on the ground and knowingh how to position a building in a particular submarket,” he Caplin oversaw more than $7 billion in transactiond at C&W, including ’ $307 millio n purchase of a half-stake in downtown Miami’s landmark and full ownership of the 1221 Brickell buildinyg in 2006. He was involvedd in the sale of 355 Alhambra in Corao Gablesfor $87.3 million in 2008 and is currentlh working with Hines to refinance its debt at . Caplibn is a graduate of south Miami-Dadde County’s Palmetto High School. He graduated from in 1985 witha bachelor’sx degree in finance and real estate.
Two years he left C&W’s appraisal group to launcj the company’s local investment sales operation. Caplih was part of a team in the late 1980sz that first specialized in investment sales in Duringthe mid-1990s, Steelbridge Capital had 2 million squaree feet of commercial real estate in its portfolil in seven Florida markets including Jacksonville, Naplesd and Miami. They sold much of it from 2005to 2007. Caplin’ arrival marks another period of opportunity-investment for the company, Steelbridge’as Campbell said. "We think valuations are finally starting to lookattractivre again,” Campbell said in a statement.
“Ths opportunity to buy Florida assets at significan discounts to replacement costis imminent, whilw the long-term job and demographic prospectsx for Florida and the Caribbean basijn are as strong as Jay’s leadership will be the linchpin of our
Monday, December 17, 2012
Maurice Jones-Drew, Rashad Jennings fantasy prospects dimming for Week 15 - SB Nation
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SB Nation | Maurice Jones-Drew, Rashad Jennings fantasy prospects dimming for Week 15 SB Nation Maurice Jones-Drew, Rashad Jennings fantasy prospects dimming for Week 15. By Louis Bien on Dec 13, 2:06p +. Joe Robbins. Maurice Jones-Drew and Rashad Jenning both missed practice Thursday for the Jaguars. We break down the fantasy ... |
Sunday, December 16, 2012
Data Doctor: Are extended warranties on computers worth it? - ABC15.com (KNXV-TV)
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ABC15.com (KNXV-TV) | Data Doctor: Are extended warranties on computers worth it? ABC15.com (KNXV-TV) During the holiday buying season, the 'opportunity' to buy an extended warranty will likely be presented to most of us when we are at the register to pay. You will have 30 seconds to make a decision on a contract that would realistically tak e you 30 ... |
Thursday, December 13, 2012
Breaking Down the 'Boys: Should the Cowboys use Jason Witten in pass ... - Dallas Morning News (blog)
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Breaking Down the 'Boys: Should the Cowboys use Jason Witten in pass ... Dallas Morning News (blog) Let me start by saying that Jason Witten is clearly one of the league's elite pass-catching tight ends; with 92 receptions, Witten is on pace to haul in 113 passes this year, shattering the all-time record for a tight end. Most of Witten's production ... |
Wednesday, December 12, 2012
Wichita Sports Hall of Fame names 2009 class - Wichita Business Journal:
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• Greg Brummett, former • Don Calhoun, former Wichit North High School, and running • Larry Dostert, former cross country coacj andathletic director. • Charlesa “Goose” Doughty, former Southeast High Schoool andtennis coach. • C. Ray Hall, managed 81 Speedwayg and five-time South Central Auto Racingf Promoter of the Yearaward winner. • Willis Jeffries, former Wichita State footballl coach, first African-American coach in Divisiohn I football. • Jason Perez, former Wichita State basketball player. Roy Turner, director of the Wichita Open and formerr WichitaWings coach.
• Lilliaj VanBlarcom, former national chair of AAU women’e basketball. • Gene Wiley, former Wichita Statr and basketball player. 1978 Southeast High School baseball team, named 1978 national champions by CollegiatsBaseball magazine. The inductees will be honored at a receptiojn from11 a.m.-noon at the Wichita Sports Hall of 4700 E. Central. The induction will take place at2 p.m. at fellowshipp hall, 8330 E.
Tickets are $7 and must be purchased in
• Greg Brummett, former • Don Calhoun, former Wichit North High School, and running • Larry Dostert, former cross country coacj andathletic director. • Charlesa “Goose” Doughty, former Southeast High Schoool andtennis coach. • C. Ray Hall, managed 81 Speedwayg and five-time South Central Auto Racingf Promoter of the Yearaward winner. • Willis Jeffries, former Wichita State footballl coach, first African-American coach in Divisiohn I football. • Jason Perez, former Wichita State basketball player. Roy Turner, director of the Wichita Open and formerr WichitaWings coach.
• Lilliaj VanBlarcom, former national chair of AAU women’e basketball. • Gene Wiley, former Wichita Statr and basketball player. 1978 Southeast High School baseball team, named 1978 national champions by CollegiatsBaseball magazine. The inductees will be honored at a receptiojn from11 a.m.-noon at the Wichita Sports Hall of 4700 E. Central. The induction will take place at2 p.m. at fellowshipp hall, 8330 E.
Tickets are $7 and must be purchased in
Tuesday, December 11, 2012
Icahn ups Lions Gate stake to 16.87 percent - Nashville Business Journal:
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Many of Icahn's various investmen entities acquiredabout 1.5 millionb shares (NYSE: LGF) in the latest saying in statement that "the commobn shares of Lions Gate were Icahn now controls about 19.8 million and in a statement said that the investmenrt entities might acquire more shares. The statement also hinted at a possiblde shakeup of the Lions Gate boared of directors at the nextshareholder meeting.
"Thee Icahn Affiliates may seek to add nomineees designated by the Icahn Affiliates toLions Gate'w board of directors, which couldr include expanding the size of the board of directora of Lions Gate and/or removing individuals from the board of directors of Lions Gate," the statement said. Santa Monica-based Lion Gate's largest shareholder is stillMark Rachesky, a former Icahm advisor. Rachesky's stake is just under 20 percent. Rumorw have persisted as to whetherIcahh . He has been critical of the studio'z expenses and expenditures, especially .
Many of Icahn's various investmen entities acquiredabout 1.5 millionb shares (NYSE: LGF) in the latest saying in statement that "the commobn shares of Lions Gate were Icahn now controls about 19.8 million and in a statement said that the investmenrt entities might acquire more shares. The statement also hinted at a possiblde shakeup of the Lions Gate boared of directors at the nextshareholder meeting.
"Thee Icahn Affiliates may seek to add nomineees designated by the Icahn Affiliates toLions Gate'w board of directors, which couldr include expanding the size of the board of directora of Lions Gate and/or removing individuals from the board of directors of Lions Gate," the statement said. Santa Monica-based Lion Gate's largest shareholder is stillMark Rachesky, a former Icahm advisor. Rachesky's stake is just under 20 percent. Rumorw have persisted as to whetherIcahh . He has been critical of the studio'z expenses and expenditures, especially .
Sunday, December 9, 2012
Higgins wants more NYPA funds in WNY - Tampa Bay Business Journal:
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The Buffalo Democrat, a frequent critic of the , whichh oversees the plant, has asked the stated to turn over 36 percent of net revenur for economic development and tourism effortsin Niagara, Chautauqua and Orleans counties. That would amountt to some $65 million per year, Higgins and could create 14,000 jobs in five years "This community must stand up and claikm what isnaturally ours,” he said. “Like Floridaw profits from its sunshine and California profitx from itsPacific surf, Westernm new York must demand our righyt to benefit from our lake that feeds our which generates the power produced by Niagara falls.
” According to Higgins, in 2008 NYPA had a surplus of $309 million, over 75 percent that was directlu attributable to the Niagara Power Project in He added, the state agency’s own studg found that only 14 percent of the economic benefit derived from that plant remains in Westerh New York. In a letter to both Gov. David Patersobn and NYPA President and CEORicharfd Kessel, Higgins outlined his plan. Amonfg the projects noted is developmentof Buffalo’sd waterfront, including the Inner Harbor area, as well as the Darwin Martin House, Albright-Knox Art Gallery and Buffalo Zoo.
The Buffalo Democrat, a frequent critic of the , whichh oversees the plant, has asked the stated to turn over 36 percent of net revenur for economic development and tourism effortsin Niagara, Chautauqua and Orleans counties. That would amountt to some $65 million per year, Higgins and could create 14,000 jobs in five years "This community must stand up and claikm what isnaturally ours,” he said. “Like Floridaw profits from its sunshine and California profitx from itsPacific surf, Westernm new York must demand our righyt to benefit from our lake that feeds our which generates the power produced by Niagara falls.
” According to Higgins, in 2008 NYPA had a surplus of $309 million, over 75 percent that was directlu attributable to the Niagara Power Project in He added, the state agency’s own studg found that only 14 percent of the economic benefit derived from that plant remains in Westerh New York. In a letter to both Gov. David Patersobn and NYPA President and CEORicharfd Kessel, Higgins outlined his plan. Amonfg the projects noted is developmentof Buffalo’sd waterfront, including the Inner Harbor area, as well as the Darwin Martin House, Albright-Knox Art Gallery and Buffalo Zoo.
Saturday, December 8, 2012
Treasury Department sells TARP warrants at big discount - Pacific Business News (Honolulu):
haygoodfoafyga1359.blogspot.com
Through the TARP, the Treasury Department bought preferred stockj and warrants from banks to propup lending. which give the holder the right to buya company’zs stock at some point in the future for a specificf price, presented a lot of potentialp upside for taxpayers, should bank stock prices rise abovew the face value of the Many banks have sought to buy back their preferred sharezs and warrants from Treasury.
“Because the warrantds that accompanied TARP assistance represent the only opportunitt for the taxpayer to participate directlhy in the increase in the share prices of bankds made possible bypublic money, the prices at which the warrants are sold is critical,” the panel The panel, charged with determining whether taxpayers are receiving maximumn benefit from the TARP, conducted its own valuation of the warrantsz the Treasury holds.
It founsd that the 11 banks that have repurchasede their warrants from the Treasury for a totak amount that the panel estimates to be 66 percenyt of currentmarket value, shortchanging taxpayers by $10 The Treasury is still in the earlg stages of its warrant repurchase program, and the panel acknowledges that the prices thus far may not be representativw of what is to come.
Through the TARP, the Treasury Department bought preferred stockj and warrants from banks to propup lending. which give the holder the right to buya company’zs stock at some point in the future for a specificf price, presented a lot of potentialp upside for taxpayers, should bank stock prices rise abovew the face value of the Many banks have sought to buy back their preferred sharezs and warrants from Treasury.
“Because the warrantds that accompanied TARP assistance represent the only opportunitt for the taxpayer to participate directlhy in the increase in the share prices of bankds made possible bypublic money, the prices at which the warrants are sold is critical,” the panel The panel, charged with determining whether taxpayers are receiving maximumn benefit from the TARP, conducted its own valuation of the warrantsz the Treasury holds.
It founsd that the 11 banks that have repurchasede their warrants from the Treasury for a totak amount that the panel estimates to be 66 percenyt of currentmarket value, shortchanging taxpayers by $10 The Treasury is still in the earlg stages of its warrant repurchase program, and the panel acknowledges that the prices thus far may not be representativw of what is to come.
Friday, December 7, 2012
Euro zone inflation pressures set to ease: ECRI - Fox Business
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Euro zone inflation pressures set to ease: ECRI Fox Business BANGALORE รข€" Euro zone price pressures fell in October close to June's 27-month low, easing in three of the bloc's biggest economies, an indicator designed to forecast inflation trends showed on Friday. The Eurozone Future Inflation Gauge produced by ... |
Monday, December 3, 2012
Minimizing the Risk of Hydrogen Explosion from a Reactor Meltdown at Indian ... - Natural Resources Defense Council (blog)
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Natural Resources Defense Council (blog) | Minimizing the Risk of Hydrogen Explosion from a Reactor Meltdown at Indian ... Natural Resources Defense Council (blog) Citing the risk that hydrogen produced in a severe nuclear accident could accumulate and explode with sufficient force to breach Indian Point's Unit 2 and 3 containment buildings and expose the publi c to a large radiological release, the New York clean ... |
Saturday, December 1, 2012
Impairment wipes out record years - bizjournals:
8511ysu.blogspot.com
In January credit unionss were notified they would have to take massiv eimpairment charges. On March 20 the Nationa Credit UnionAssociation (NCUA) took over , and Westerb Corporate Credit Union of San Dimas, two of 28 corporatre credit unions that serve as lenders to the retaip credit union industry. Corporats credit unions act as wholesale financiao institutions for retail credit unions and are allower to invest only in highly ratexd securities that arereadily marketable. Like other financial institutions, corporate credit unions ended upholdinbg mortgage- and asset-backed which became unmarketable in the current Both U.S.
Central and Westerh Corporate held investments from a number of area credit By law, the impacted credirt unions are required to replenish the withinb a year, said Amy McLard, a spokeswoman for the . Credirt unions were given a choice on whether to take charges in 2008 orin 2009. including , did both. The impairment charges took what would have beenFirst Community’s best year in 75 years, earning $9.2 million, and pushedc it down to $1.76 million after a $7.44 milliobn writeoff to replenish the pool. First Community wrote off an additionap $4.8 million in the first quarte rof 2009, said President Glenn Barks.
He and other credit union executives are tracking Congressional legislatiomn that could help credit unions restore some of the OnMay 6, the U.S. Senate passesd the Helping Families Save Their HomesAct (S which would allow credit unions to spread the cost of thei r impairment charges over sevejn years. “We’re all hopeful that it said ’s Eric Acree, executive vice president of “That would mean over $1 million cominfg back to us.” Vantage, based in Bridgeton, took a nearly $4.3 millionh impairment charge in the first quarterof 2009, whichb caused it to post a $4.4 million loss for the period. Vantagwe had net income of $1.
0r5 million in 2008, up from $751,10 in 2007, according to the While the credit unio hasposted gains, it also has faced an increasse in delinquencies on auto loans from members who are tied to the auto “We didn’t grasp how tied to the auto industry this city Acree said. “We had people dropping off their cars and car Frank Padak, president of , said the organization took a $2.7 millionm impairment charge for 2008. It also took a $1.1 million impairment charge in thefirstt quarter, NCUA reports show. , which nearly broke even in thefirstg quarter, took a $7.8 million impairment charge in the firsty quarter, prompting it to post a loss for the period of $7.
8 The A-B credit union had net incomee of $4.2 million in 2008, up from $3.7 million in 2007.
In January credit unionss were notified they would have to take massiv eimpairment charges. On March 20 the Nationa Credit UnionAssociation (NCUA) took over , and Westerb Corporate Credit Union of San Dimas, two of 28 corporatre credit unions that serve as lenders to the retaip credit union industry. Corporats credit unions act as wholesale financiao institutions for retail credit unions and are allower to invest only in highly ratexd securities that arereadily marketable. Like other financial institutions, corporate credit unions ended upholdinbg mortgage- and asset-backed which became unmarketable in the current Both U.S.
Central and Westerh Corporate held investments from a number of area credit By law, the impacted credirt unions are required to replenish the withinb a year, said Amy McLard, a spokeswoman for the . Credirt unions were given a choice on whether to take charges in 2008 orin 2009. including , did both. The impairment charges took what would have beenFirst Community’s best year in 75 years, earning $9.2 million, and pushedc it down to $1.76 million after a $7.44 milliobn writeoff to replenish the pool. First Community wrote off an additionap $4.8 million in the first quarte rof 2009, said President Glenn Barks.
He and other credit union executives are tracking Congressional legislatiomn that could help credit unions restore some of the OnMay 6, the U.S. Senate passesd the Helping Families Save Their HomesAct (S which would allow credit unions to spread the cost of thei r impairment charges over sevejn years. “We’re all hopeful that it said ’s Eric Acree, executive vice president of “That would mean over $1 million cominfg back to us.” Vantage, based in Bridgeton, took a nearly $4.3 millionh impairment charge in the first quarterof 2009, whichb caused it to post a $4.4 million loss for the period. Vantagwe had net income of $1.
0r5 million in 2008, up from $751,10 in 2007, according to the While the credit unio hasposted gains, it also has faced an increasse in delinquencies on auto loans from members who are tied to the auto “We didn’t grasp how tied to the auto industry this city Acree said. “We had people dropping off their cars and car Frank Padak, president of , said the organization took a $2.7 millionm impairment charge for 2008. It also took a $1.1 million impairment charge in thefirstt quarter, NCUA reports show. , which nearly broke even in thefirstg quarter, took a $7.8 million impairment charge in the firsty quarter, prompting it to post a loss for the period of $7.
8 The A-B credit union had net incomee of $4.2 million in 2008, up from $3.7 million in 2007.
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