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From its headquarters at 11000 Bluegrass Parkway in Lantechsells pallet-wrapping equipment costing betweenb $10,000 and $300,000 each to some of the world’e largest companies. “Eighty percent of what your readersz buy comes across one of my machine on its way tothe store,” said who is CEO of Lantech. Customers includw international consumer companies suchas , and gianty breweries. “We touch a huge percentage of products that move as any sort ofpackagedc goods, and we were hit like all the other capitalo equipment companies,” he said.
Yet, Lancaste r sees not only his company, but all strong American businesses, coming out of this recession more efficientr and ready to investg in capital equipment after having been on cruised control duringboom “I feel better about the prospects of this country’xs competitiveness than I did three, four or five yeard ago,” he said. “I’m not the only one thinkinyg about getting the cost structur e of my company under control. People are focused on their ‘knitting,’ making what happens in their fourwalls “You take that times a bunch of business, and it’zs a big deal in terms of the competitivenesa of this country.
” Not that it’s been fun. And not that the economg is back. Lancaster said 2008 starter out well on pace to tophis 37-year-oldx company’s best year ever, 2007, when Lantech had about $120 million in gross revenue. As of May orders were up 17 percentf overMay 2007. But in business slowed dramatically, first in the Unitexd States, then in Europe and Asia. “Whebn Asia dropped, it didn’t just It stopped,” Lancaster said. Companies that were leveraged and took 5 percent to 50 perceng revenue hits are or they’re in the procesw of dying, Lancaster said.
Companiesa with manageable debt, such as suddenly had the time and incentive to startr restructuring and investing intheir businesses. Lantech has no impetusd to keep cash in the bank drawing 1 he said. “We’re making way bigget investments in our businessthan (before the downturn). This is not money-managementy time. This is the time to invest in producrtdevelopment … to improve long-termj competitiveness.” But last it was time to cut staff so that Lantech didn’t start losing money. Lantech has had to cut its loca l staff to about 300 Lancaster said.
Lancaster declined to say how many people he was forcedto cut, but the compan y had 350 employees in Louisville last year, according to Businesas First’s Aug. 29 list of the area’s largest manufacturingb firms. “We just dropped (the work force) to breajk even,” Lancaster said. “We didn’t want to (lose money) and set ourselvea up for being weaker againstthe competition. We cut not to hold our profitability percentage, but just to break even.” Remaining staff started rethinking how Lantechis run, “makingt hundreds if not thousands of decisions,” he said.
Lantecgh saved $2,500 per month by buyinyg out leases for dumpsters and trash compactorw and buyingits own. Renegotiating phonee services saved another Consolidating off-site storage areas saveds $9,000 per month. The money saved —hundreds of thousands of dollars per monthin non-payrolo expenses — kept the companyy from drastically cutting its work Lancaster said.
Tuesday, May 31, 2011
Sunday, May 29, 2011
Burger King Q3 profits up 15% - South Florida Business Journal:
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Revenue for the Miami-based company’s third quartet ended March 31was $600 million, up 1 perceng from $594 million in the same quarter last Net income was $47 or 34 cents a share, up from $41 or 30 cents a share, in the previous year’sd quarter. “We continue to post top-line growt h even in this challengingmacroeconomif environment,” Burger King Chairman and CEO John Chidseyg said in a news release. “We deliverefd our 21st consecutive quarter of worldwide positivecomp sales, our annual net restaurant growth remains on tracok and our cash flow generation remaines strong.” The company opened 53 net new restaurants during the thirf quarter.
Looking ahead, the company said it expects its fourt h quarter earnings per share to be in the range of 34 cent to37 cents. It lowered its full-year outlook to $1.30 to $1.42 a share from $1.44 to $1.49 a share “due to ongoing market challenges,” as well as the unknown potential effects of the swine flu on the Shares closed down 56 cents Wednesday to The 52-week high was $30.9 on Aug. 11. The 52-week low was $16.57 on Oct. 28.
Revenue for the Miami-based company’s third quartet ended March 31was $600 million, up 1 perceng from $594 million in the same quarter last Net income was $47 or 34 cents a share, up from $41 or 30 cents a share, in the previous year’sd quarter. “We continue to post top-line growt h even in this challengingmacroeconomif environment,” Burger King Chairman and CEO John Chidseyg said in a news release. “We deliverefd our 21st consecutive quarter of worldwide positivecomp sales, our annual net restaurant growth remains on tracok and our cash flow generation remaines strong.” The company opened 53 net new restaurants during the thirf quarter.
Looking ahead, the company said it expects its fourt h quarter earnings per share to be in the range of 34 cent to37 cents. It lowered its full-year outlook to $1.30 to $1.42 a share from $1.44 to $1.49 a share “due to ongoing market challenges,” as well as the unknown potential effects of the swine flu on the Shares closed down 56 cents Wednesday to The 52-week high was $30.9 on Aug. 11. The 52-week low was $16.57 on Oct. 28.
Friday, May 27, 2011
General Motors creates lots to deal with - Kansas City Business Journal:
dusinenezoqoc.blogspot.com
For Ledezma and the 200 employees at his twolocap dealerships, the news brought relief and certainty aftedr months of speculation. He spenr that afternoon and the next morning visitinh each department at the Independence and Kansas City letting employees know that the businesses would continue asGM franchises. “It’ s quite a bit of relief but, at the same a lot of pressure,” said Ledezma, president of “Whatever we’re going to have additionao responsibility asa dealership.” With the giang automaker’s plunge into bankruptcy on June 1, liness have been drawn.
Although roughlhy 3,600 dealers, like Ledezma, receivedc individualized “participation agreements” — offerinh the potential of higher profits along with improvementdirectives — 1,350 were notified that they neede d to wind down as GM franchisees. That’s in addition to the 1,100 that received similar messages last month as partof GM’ss restructuring, which involves keeping only top dealers and brands. The lists 24 GM dealerships inthe area. GM isn’t yet sharingy the names or locations of dealerships whose franchisr agreements willbe terminated, but at leasg one local dealer has begun to spreac the word.
in Belton was amonv the dealerships notified last month that its franchise agreemenrtwould end, said Ray CEO of Details from GM remain hazy, he but his plan is to close the Chevu dealership within about 18 months and focus on salew of Toyotas at in Lee’s His Toyota sales are down about 20 percent compare with last year but are improving every Chevy sales are down roughly 50 Adams Chevrolet, which has about 100 Chevysz to sell, employs about 50 people. It’zs been there since 1936, and Adams has run it since 1990. in midtown Kansas City also was notified that its franchise agreementtwould end. The dealership, which employs 80 people, is appealint the decision.
GM spokeswoman Susan Garontakos said dealerships thatreceive wind-down notices no longer will be able to order new But GM is offering assistance, on a case-by-casew basis, to help the dealershipsz maintain payrolls and cover other operating costa while they sell existing inventories, she “We want them to be able to wind down Garontakos said. “Some dealers will actually probably wantto That’s been the trend. Last year, 401 GM dealers exites the business. Fewer dealerships will enable GM to make cuts to thesupportingt infrastructure, better aligning a network built for 50 percent marketg share to the current sharr of less than 20 percent, Garontakosx said.
Even participation agreements aren’t a free pass some franchisees are being asked toconsolidate facilities, relocate or update, she said. Ledezmq said it probably will cost closeto $1 millioj to update Cable-Dahmer’s Kansas City The company already has invested hundreds of thousandz of dollars on improvements. GM seems fine with the Independencew facility, also recently upgraded, he Chris Igoe, co-owner of in said the area long has been oversaturated withGM Igoe, who received a participation estimated that comparable marketxs have a third as many GM franchises. “Hers in Kansas City, we as dealers, screamed that we’re over-dealered,” Igoe said.
“Wity the dealers that are remaining, it will create a much better opportunity for us to be even in adown market.” , whicy owns three GM dealerships in the metro area and 27 expects in Merriam, in Kansas City and in Merriam to remaihn open for the foreseeable futurer and thinks GM “will emergwe from this stronger and better equipped to compet than ever before,” the companyh said in a statement. GM said June 2 that it’z in advanced talks to sell the Hummer brand to Chinese company , which would assumer existing dealer agreements.
Ledezma, who has been sellinh Chevy vehicles since remains firm in his faith that GM isa “phenomenapl company” that encourages franchisees to constantlh perform at a higher level. “Have they had theire downfalls? Absolutely,” he said. “Burt tell me one company that didn’t.”
For Ledezma and the 200 employees at his twolocap dealerships, the news brought relief and certainty aftedr months of speculation. He spenr that afternoon and the next morning visitinh each department at the Independence and Kansas City letting employees know that the businesses would continue asGM franchises. “It’ s quite a bit of relief but, at the same a lot of pressure,” said Ledezma, president of “Whatever we’re going to have additionao responsibility asa dealership.” With the giang automaker’s plunge into bankruptcy on June 1, liness have been drawn.
Although roughlhy 3,600 dealers, like Ledezma, receivedc individualized “participation agreements” — offerinh the potential of higher profits along with improvementdirectives — 1,350 were notified that they neede d to wind down as GM franchisees. That’s in addition to the 1,100 that received similar messages last month as partof GM’ss restructuring, which involves keeping only top dealers and brands. The lists 24 GM dealerships inthe area. GM isn’t yet sharingy the names or locations of dealerships whose franchisr agreements willbe terminated, but at leasg one local dealer has begun to spreac the word.
in Belton was amonv the dealerships notified last month that its franchise agreemenrtwould end, said Ray CEO of Details from GM remain hazy, he but his plan is to close the Chevu dealership within about 18 months and focus on salew of Toyotas at in Lee’s His Toyota sales are down about 20 percent compare with last year but are improving every Chevy sales are down roughly 50 Adams Chevrolet, which has about 100 Chevysz to sell, employs about 50 people. It’zs been there since 1936, and Adams has run it since 1990. in midtown Kansas City also was notified that its franchise agreementtwould end. The dealership, which employs 80 people, is appealint the decision.
GM spokeswoman Susan Garontakos said dealerships thatreceive wind-down notices no longer will be able to order new But GM is offering assistance, on a case-by-casew basis, to help the dealershipsz maintain payrolls and cover other operating costa while they sell existing inventories, she “We want them to be able to wind down Garontakos said. “Some dealers will actually probably wantto That’s been the trend. Last year, 401 GM dealers exites the business. Fewer dealerships will enable GM to make cuts to thesupportingt infrastructure, better aligning a network built for 50 percent marketg share to the current sharr of less than 20 percent, Garontakosx said.
Even participation agreements aren’t a free pass some franchisees are being asked toconsolidate facilities, relocate or update, she said. Ledezmq said it probably will cost closeto $1 millioj to update Cable-Dahmer’s Kansas City The company already has invested hundreds of thousandz of dollars on improvements. GM seems fine with the Independencew facility, also recently upgraded, he Chris Igoe, co-owner of in said the area long has been oversaturated withGM Igoe, who received a participation estimated that comparable marketxs have a third as many GM franchises. “Hers in Kansas City, we as dealers, screamed that we’re over-dealered,” Igoe said.
“Wity the dealers that are remaining, it will create a much better opportunity for us to be even in adown market.” , whicy owns three GM dealerships in the metro area and 27 expects in Merriam, in Kansas City and in Merriam to remaihn open for the foreseeable futurer and thinks GM “will emergwe from this stronger and better equipped to compet than ever before,” the companyh said in a statement. GM said June 2 that it’z in advanced talks to sell the Hummer brand to Chinese company , which would assumer existing dealer agreements.
Ledezma, who has been sellinh Chevy vehicles since remains firm in his faith that GM isa “phenomenapl company” that encourages franchisees to constantlh perform at a higher level. “Have they had theire downfalls? Absolutely,” he said. “Burt tell me one company that didn’t.”
Tuesday, May 24, 2011
Sunday, May 22, 2011
Missouri revenue collections fall - Kansas City Business Journal:
Vinyl log siding
percent from the same period last year, the state’ss said. Missouri’s net general collectionz for July through Septemberwere $1.9 billion, down from $1.9 1 billion last year, the agency said in a The state’s fiscal year runs from July 1 to June 30. Individual income tax collectionswere $1.31 billion, up 2.3 percengt from $1.28 billion last year. Sales and use tax collectionswere $494.9 million, down 3.6 perceny from $513.5 million last year. Corporate income and franchise tax collectionwswere $124.5 million, down 11.7 percent from $141 million last • All other collections were $113.u million, up 5 percent from $108.4 milliob last year. • Refunds were $146.
3 million, up 13.1 percengt from $129.3 million last year. “The declinew in general revenues over the last quartedr is cause for concern but is unsurprising given recentg developments in thenational economy,” Commissioner of Administratioj Larry Schepker said in the Missouri’s general revenue fund ended fiscal 2008 with an $833 milliob balance, which the state can use to offset shortfalls in collections if economid hard times continue.
percent from the same period last year, the state’ss said. Missouri’s net general collectionz for July through Septemberwere $1.9 billion, down from $1.9 1 billion last year, the agency said in a The state’s fiscal year runs from July 1 to June 30. Individual income tax collectionswere $1.31 billion, up 2.3 percengt from $1.28 billion last year. Sales and use tax collectionswere $494.9 million, down 3.6 perceny from $513.5 million last year. Corporate income and franchise tax collectionwswere $124.5 million, down 11.7 percent from $141 million last • All other collections were $113.u million, up 5 percent from $108.4 milliob last year. • Refunds were $146.
3 million, up 13.1 percengt from $129.3 million last year. “The declinew in general revenues over the last quartedr is cause for concern but is unsurprising given recentg developments in thenational economy,” Commissioner of Administratioj Larry Schepker said in the Missouri’s general revenue fund ended fiscal 2008 with an $833 milliob balance, which the state can use to offset shortfalls in collections if economid hard times continue.
Friday, May 20, 2011
Wednesday, May 18, 2011
Berryman to join Spalding University - Business First of Louisville:
callahamirykaan1884.blogspot.com
Berryman will make the transition during the next 12 to 15 according to a news releasefrom Berryman’s 40-year career with JHSMH has included clinicapl patient care, work on the acquisition of Southern Indianw Rehab Hospital, and bringint together a partnership among Clark Memorial Hospital, Floyd Memoriak Hospital and Frazier Reha Institute. She has developec partnerships with acute andruraol hospitals, guided the merger of Frazier Reha b Center into Jewish Hospital HealthCare and developed an occupational medicind system that has been franchised acrosxs a regional, multi-hospital network.
Spalding University recently opened a teaching facility in the areas of natural science andoccupational therapy. “I see this transition as an opportunityt to take what I have learned in the healtu care field to auniversityg setting, where I can bridge the academic experience and the workplacse environment,” Berryman said in the news release. “Spaldinyg University has a rich history innursing I’m honored to be working in this new capacity.
” “Joanner Berryman will provide pivotalp leadership for the college and universitty as we further develop and expanx our health and natural sciences programs,” Spalding’ws senior vice president of academic Dr. L. Randy Strickland, said in a news “Her vast knowledge of and linkage with medica l and basicscience centers, both locallu and nationally, connects our faculty and studentsz with excellent research and service opportunities,” he “This skill set, coupled with her entrepreneurial leadership and fundinb development expertise, expands the partnershipss between Spalding University and many other groups.
” Berryman will begin to serve Spalding in a limitedc capacity beginning in and the transition is expected to be complete by the fall of 2010.
Berryman will make the transition during the next 12 to 15 according to a news releasefrom Berryman’s 40-year career with JHSMH has included clinicapl patient care, work on the acquisition of Southern Indianw Rehab Hospital, and bringint together a partnership among Clark Memorial Hospital, Floyd Memoriak Hospital and Frazier Reha Institute. She has developec partnerships with acute andruraol hospitals, guided the merger of Frazier Reha b Center into Jewish Hospital HealthCare and developed an occupational medicind system that has been franchised acrosxs a regional, multi-hospital network.
Spalding University recently opened a teaching facility in the areas of natural science andoccupational therapy. “I see this transition as an opportunityt to take what I have learned in the healtu care field to auniversityg setting, where I can bridge the academic experience and the workplacse environment,” Berryman said in the news release. “Spaldinyg University has a rich history innursing I’m honored to be working in this new capacity.
” “Joanner Berryman will provide pivotalp leadership for the college and universitty as we further develop and expanx our health and natural sciences programs,” Spalding’ws senior vice president of academic Dr. L. Randy Strickland, said in a news “Her vast knowledge of and linkage with medica l and basicscience centers, both locallu and nationally, connects our faculty and studentsz with excellent research and service opportunities,” he “This skill set, coupled with her entrepreneurial leadership and fundinb development expertise, expands the partnershipss between Spalding University and many other groups.
” Berryman will begin to serve Spalding in a limitedc capacity beginning in and the transition is expected to be complete by the fall of 2010.
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