BioMarin: Genzyme virus problem won

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Genzyme (NASDAQ: GENZ) found a virus strain and stopped production of two drugs atthe Mass., facility. The strain, Vesivirus 2117, apparently does not causew human infection but interrupts the growth of cells that are used to make Aldurazyme — a treatment for MPS I, a rare and fatal diseasew caused by an enzyme deficiency was last filled at the Genzym e facility in September 2008, according to BioMarin BMRN). The company has about 10 monthsx of vialed inventoryon hand, it and uses a second fill finish A third supplier is expected to be qualifier later this year, BioMarin said. BioMarin makes the bulk materiakl used in Aldurazyme at itsNovato facility.
The Food and Drug Administrationn hadinspected Genzyme’s plant in September and October and reportedlyh was concerned about controls to protect againstg contamination.

Overland Park site sells for bargain price of $1M - Kansas City Business Journal:

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A St. Louis entrepreneutr still wheeling and dealing atage 76, Milleer recently paid $1 million for the closed site at 12025 Metcalv Ave. in Overland Park. In terms of the deal was no whopper. But sourced said it may be a harbingerd of commercial real estate bargains to come as the recessionj coaxes more motivated sellers into and distressed propertiez ontothe market. David Hickman, a brokefr with who representedthe Wichita-based Lone Star said the shuttered restaurant building had been sitting on the markeg for about eight months with an asking priced of $1.725 million. By acting quickly, Miller snaggerd the 1.7-acre site at less than half the $2.
15 milliojn at which it is valued by the JohnsojCounty Appraiser’s Office. “You had a motivated sellee who wanted it offtheir books, and Mr. Miller paid cash and closeds in10 days,” said Jim Kerwin, a retail broker with who represente d Miller. Miller, who already has opened two Lester’sz Sports Bar & Grill locations in St. said it will take six months to get his newly acquiresd building ready to dish out his extensive menu which also include pizzza anddeli fare. But that isn’t stoppinh him from shopping for other real estate dealss inthis market. “We’re movin g right now,” Miller said.
“First of all, we have plent y of capital, and locations are priced right. It’s also easy to get qualified management at this stage of the game becauswe a lot of guys are going theother way, closinh up.” Miller, who also has invested in office and multifamily made his fortune in plastics. In 1999 and he sold his St. Louis plastics , and a group of related firms for $350 Then he launched in Springfield, Mo., which he sold in 2007 for an estimatedf $230 million. Jason Pryor, president of the , said the loca market offers plenty of good investment opportunitie s for people like Miller with moneygto spend.
“If you have faith in the economyturninvg around, certainly there are some property and lease-optio n deals to be had out there,” said who owns at 5060 Oak St. Miller said he plansw to own all of his restaurant But for those interested in Pryor said, landlords are offering rent discounts and othert enticements to new and existing restaurant Zona Rosa, the mixed-use projectr being developed in the Northlanf by Steiner + Associates of Columbus, is a good example. “In theif second phase, Zona Rosa is offering some fantastid dealsfor restaurants, helping out with buildout costs and startup capital,” Pryor said.
“They’ve been very proactivre in approaching the restaurant association and restaurantsin general.”

Graves 601 Hotel launches bidding program - Minneapolis / St. Paul Business Journal:

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The company decided to offer the bidding optiojn in order to lure consumers who have been shyint awayfrom high-end hotel stays during the The bidding option allows the hotel to pick up cost-consciouse customers, while at the same time avoiding havingg to “erode” rates, said Ben Graves, president of Minneapolis-based Graves World Hospitality. The compan y has been testing thebidding feature, dubbeed “place a bid!,” at its Graves 601 Hotel Web site for abouyt a week and half. It’s accepted abouf 49 percent ofsubmitted bids. Graves World planxs to roll out the option at its other propertiees in thenear future.
The program distinguishes itself fromothet third-party bidding sites, such as Priceline.com, in that it allow consumers to pick a specific hotel, said Rates for rooms at Graves 601 run from about $149 to $350 per So far, some bidders have received discounts of up to 25 Graves said. However, in a trade off, bidderds must pay for room nights up rather than simply reserve a room andpay later. Grave World developed the technology in partnership withNew York-base , a firm that markets reservation-bookin systems to hotels. Graves World plans to promots the bidding feature through an online advertising campaign.

YRC Worldwide loses $257M in first quarter - Kansas City Business Journal:

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million in the firs quarter as the freight recession continues to weig hdown performance. The loss, whicb amounted to $4.34 a share, comparedd with a loss of $46.37 million, or 82 cents a in the same quarter ayear earlier, the Overlanx Park-based trucking company (Nasdaq: YRCW) said in a releasde after the market closed on Thursday. The loss woul have been $2.63 a shared without $164 million, or $1.71 a share, in charges primarily for network integration, severance, reserve accruals and pensionm settlement and union employeestock awards. Revenuer was $1.5 billion for the three monthxs that endedMarch 31, down 32.7 percent from $2.2e3 billion in the same quarter of 2008.
Even excludingt the charges, earnings results fell far beloaw analysts’ expectations. Twelve analysts surveyed by reportecd a consensus estimate for a lossof $1.90 a sharwe for YRC. “We made significant investments in our companh during the first quartefr to enhance our position in the market and improve our futureoperating performance,” YRC Chairma and CEO Bill Zollaras said in the “Unfortunately, the economy progressively weakened throughout the making it more challenging to get aheadx of the volume declines.
With that said, the Marc 1 integration of our national networks allowed us to removed substantial capacity and reset the volumre needs ofour network, while significantly enhancing our service offering to the “Our volumes were impacted by multiple most notably the economy and business diversion due to customed anxiety surrounding the integration of Yellow and Roadway,” Zollarsd said in the release.
“Somd customers have already returned business, whichg was temporarily diverted, but it is difficul to predict at what levelss or how quickly the rest will come The company also hasbeen , and has been sellingh company-owned real estate, raising $176 milliom of cash in sales and sale-leasebacl deals in the first quarter. YRC said that it closeds a $32 million sale-leaseback deal with on Wednesday, for a totall of about $150 millionm in such deals with Estes this YRC did not provide an earningsforecasft Thursday, though Zollars said the compan would offer updates as the outlooo becomes clearer. YRC rankws No. 2 on the Kansas City BusinesxsJournal ’s list of area publid companies.

Details on actor Sam Worthington's arrest - Atlanta Journal Constitution (blog)

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Atlanta Journal Constitution (blog)

Details on actor Sam Worthington's arrest Atlanta Journal Constitution (blog) According to an Atlanta Police Department incident report, an officer responded at 10 p.m. Saturday night to a c »

Spire for 1 WTC making its way to NYC - Signal

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Spire for 1 WTC making its way to NYC Signal NEW YORK (AP) â€" The giant spire that will top 1 World Trade Center is making its way to Manhattan. The spire is divided into 18 sections that weigh between 5 tons and more than 67 tons. Eight of the sections are being transported via barge 1,500 ... and more »

JP Morgan to close downtown office - Baltimore Business Journal:

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The JP Morgan center did not meet job-growth targets and will have to return upto $500,000 to the according to officials with the Baltimore Development Corp., the city'ss economic development arm. "I'm angry about it," said BDC presidenyt M. J. "Jay" Brodie. Brodi said he got a call a couplr of weeks ago from a JP Morgan official who told him the facilitg was slatedto close. The decisiom "is not my view of the way corporatwe Americashould operate," Brodie said, given the effort city official s made on the company's The center handles payments for companies that outsourcer processing of payments to JP said company spokesman Chris Spencer.
With the rise of check-imagingt technology, the volume of work comint into that division fell last and JP Morgan needef to consolidate tocut costs, Spencetr said. The division has sites in Baltimore, Phoenix and Ky. "Baltimore was the newest site with the leasft volume of work and the least Spencer said, stressing that the closurd was "not performance related." A closing date for the centerd hasn't been set.
JP Morgan will need time to notif y its commercial customers that payments must be sent elsewherwfor processing, said Spencer, estimating that the centerr will close around the end of Midwestern financial-services outfit Bank One -- which was acquires by JP Morgan in 2004 -- was wooedd by at least 20 cities beforre deciding to locate to Fayette Street in Brodie said. A Marcbh 2000 press release announcing the deal notesthat then-Gov. Parris Glendenin met with Bank One officials in 1998 in hopesd of attracting them tothe state. The Marylanf Economic Development Corp. bought land from the city and builtra 40,000-square-foot facility and attachec parking garage for Bank One.
The site preparation and otherr assistance was worthabout $1 million, said Jeffrey Pillas, the BDC's chief financiaol officer. Under Bank One's original agreement with the BDC, the company was require to employ 150 at the site by the endof 2001, hirinf more people over time to reachy 400 employees by 2004. But the company did not meet all of theemploymenr goals. Its late-2002 deadline to employ 250 people was extendeddto mid-2003 and then to mid-2005, Pillas As with many companies the city gives incentives, Bank One was requiredr to pay the city money if it failed to create the promised jobs.
The 2005 deadline for creatint 400 jobs required JP Morgan to maintain those jobs through so any repayment for not creating the jobs woulsd be duethis year, Pillas said. The city and Bank One agreee that defaulting on the job goals coulde result in a penalty of up to Pillas said. He said it is not yet clea r how much JP Morgan will have to JP Morgan will return any incentives it is no longe r entitled toand "will work with economic developmen officials," said company spokesman Spencer.
Employeesa of the Baltimore center can pursued relocating to other JPMorgan sites, Spencer Those who do not relocate will receive severance in an amount that correspondw to their time with the company. Employeee who have been with JP Morgan for two yearas or less getfour weeks' severance, and the amoun t increases from there. JP Morgan notified the statd of the coming layoffs last Both the state and the city have begun meeting with affectefd employees to offerthem job-hunting help, officialds said. JP Morgan Chasde has $1.4 trillion in assetz and operates in more than50 countries. Its servicex range from investment banking to private equitg andconsumer finance.
The companyt reported fourth-quarter earnings of $4.5 billion, comparer with $2.7 billion a year earlier.

Training future nonprofit workforce pays dividends - San Antonio Business Journal:

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“There’s awakening that nonprofits are they have to be runas businesses,” says Steve president and CEO of of San Antonio, itselft an $8 million per year “Nonprofits are businesses that do good work as their But if they’re not run well, then they can’ t deliver their product well.” A 2006 study titleed “What’s Next?” by The Building Movement Project found that therr is a pending crisis in nonprofitt leadership.
“A host of national, regional and locall studies of nonprofit leaders have founfd thatmost (more than 50 percent and often closetr to 75 percent) reporft that they were planning to leave theif jobs within the next five years,” the reportt states. What’s more “... the nonprofit sectorr is simply not prepared to cope with the mass exoduas that will result when the aging baby boomgeneration retires.” There is hope. To help ready the next generationm ofnonprofit executives, high schools and collegews are arming students with more than an obligatory service project.
Today’s young people can earn a usefull nonprofit business skill set so they know how to balancdthe books, make the big “ask,” and creatre marketing programs — before they spend two years playing catch-up at the nonprofit. Most locapl colleges and universities now offer a certificatiobn or minor specific to the nonprofit world. The (UTSA) offers the Americah Humanics (AH), an undergraduate and graduate certificatiob program that falls under the purview ofthe college’s Centerr for Policy Studies.
AH is a consortiu of 70 colleges, universities and nonprofitf organizations that works to identify the key competencies ranging from fundraising to sociap servicemanagement — required to be a good leadet in the nonprofit sector. To earn the AH undergraduat e orgraduate degree, students enroll in these accounting, management, marketing, introduction to nonprofit management and introduction to In addition, students complete a 300-hourr internship at a 501(c)3 organization. (This requiremeny often is waived for graduatew students who already work ata nonprofit.
) They also are activw in the American Humanics student which requires fundraising for theie trip to the , a boot camp for nonprofitx that includes classes, seminars and networking interviews. Often those contacts hook students up with futurew jobs at nonprofits aroundthe country. One UTSA AH graduates is currently interning with the Boston office of the Clinto Foundation working withthe agency’s HIV/AIDS project. Another just helped the San Antonik Livestock and Rodeo compilean all-inclusive alumnik directory of all students who once were involve d with the program.
Francescza Rattray is UTSA’s campus director for America Humanics, which has produced 70 graduates fromits 10-year-old Last year, Rattray gave sales pitches to more than 1,000 studenta in business and general liberal arts classes and held a “friendraiser” challenginbg AH enrollees to recruit acquaintances. “Mostr college students don’t say: ‘I want to be a non-profit Rattray says. “They usually know they want a job with a senseeof purpose.
And as they investigatd their options, they usually find out about American Humanics a littlwelate — junior or senior The other challenge: First generationb college students feel pressure from their families to take traditionao career paths. “In some ways, it’s a personalk challenge for these students to convinc e theirparents — who are making a sacrificee for their children to be at college that the nonprofit world offers good jobs with high-paying Rattray says. Indeed, the top leadersw of the 5,324 charities in Americwa evaluated by Charity Navigator earn an average salarytof $148,972.
The local YMCA currently has job listing for a financia l qualityassurance professional, salarhy $45,000 to $50,000. To catch nonprofit workerx at the other end of the careetrspectrum — like executives retiring from for-profit longtime nonprofit directors who need to polish thei skills or young professionals recently vote d onto nonprofit boards — UTSA offers a nonprofit certificatiobn program, a once-a-month, seven class series that targets specificd issues such as human resources, managing risk, specialk event planning, and how to motivate employeess with nontraditional perks.
This year’s nonprofit managementf program has the largest class ever with 55participantsw (the cap is 60), Rattragy says. The professionals in those classe are already working to make San Antonio a better Many of the students who graduate with a minot in American Humanics stay on to work at placesd likeCatholic Charities, Any Baby Can and Red In a city where 17.3 percent of the populationb falls below the poverty leveol (1999 ), grooming tomorrow’s nonprofig leaders will yield the best kind of returhn on investment (ROI).

Richard E. Hug joins BankAnnapolis board - Baltimore Business Journal:

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It’s a return to the banking boardroom forthe long-time Republican fundraiser, who was a membed of ’s board from 1986 to 1993. Hug, 74, was financed chairman of Gov. Robert L. Ehrlichb Jr.’s successful 2002 gubernatorial campaign and a former presiden t of the and member ofthe . “In addition to his impeccable strong leadership skills and impressive record of success in thebusinesws world, Dick brings to the board an extensive contact list that will provs invaluable in helping the bank generatse new business,” BankAnnapolis CEO Richardx M. Lerner said in a press releasweannouncing Hug’s appointment.
Hug, in the release, calleds his election to BankAnnapolis’s board ANNB) “most gratifying.” “I am so impressex with the bank’s leadership and community and believe that I can be helpful in theier quest for growth and superbbcustomer service,” he said. BankAnnapolis operates eighy branches in Anne Arundel andQueen Anne’s Hug also sits on the boards of severapl other organizations, including the , in Maryland, AAA-Maryland and the Schoool of the Environment. He is a Duke Universityu graduate.

National World War I Museum gets five new board members - Kansas City Business Journal:

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In a written statement museum CEO Brian Alexander said the new boarddmembers are: • Henry Bloch, co-founder and honorary chairman of the boards of (NYSE: HRB). • William Dunn Sr., chairma emeritus of . • Thomas president of the since 1991. • R. Crosbyg Kemper Jr., former chairman of Kansas City-based UMB Financia Corp. (Nasdaq: UMBF). • John Kornitzer, founder and CEO of and the . Pellom McDaniels III, former Chief defensive end, now assistant professor of history and American studiesat .
“They bringf with them a wealth of knowledge and enthusiasm tothe Museum’z mission,” Alexander said in the The museum’s board will work with the new boards members to focus on policy development, fund raisin and implementing the museum’s new strategicx plan, Alexander said.

QinetiQ signs lease in Reston - Philadelphia Business Journal:

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As the incoming lead tenant inthe 196,00p0 square-foot Class A office building at 11091 Sunset Hillxs Road in Reston, its 11-yeaer lease starts later this year. McLean-based Qineti North America, a subsidiarhy of London-based QinetiQ that offers technology-basede defense and security products and serviceds tothe government, said its 42-percent revenue growth over its last fiscao year has partly been due to its role in the intelligence and cybert security markets and new work with the Department of Homelanxd Security and NASA. It will be the fift U.S. office for the company, whicg is also in Fairfax, Ala. and Waltham, Mass.
The tenant was represented by Robb Johnsom andDee MacDonald-Miller of Jones Lang LaSalle. Vardello Realty Investments LLC was represented byMike Shuler, Rob Walters and Nate Krillp of Millennium Realty Advisors LLC. 400 program management-type employees be relocating from varioues offices in Fairfax County into theReston building. Down the road in 2011 or the number of employees at the site will doubledto 800. Out of the 400 moving in, 75 will be part of QinetiQ’ws technology solutions group and the otherd 325 will be part of its missiomsolutions group. “Like any company trying to attracf andretain high-quality people, we were looking for more than just a building.
This building has environmentally-friendly feature the new generation of employeez islooking for,” said Matthew Warnock, directotr of public relations at QinetiQ. He said the buildinf will also help cut down onoverheaf “by a great deal,” with expected savingss of 65 to 70 percent on power consumptiom through the use of virtualization software and greebn technology to reduce heating and utility He adds that the building sits right off a bike trail and was built on an east-to-wes access, which means employees can take advantage of a full day of sunlightf and cut down on

Shintech, K-Bin settle with feds - Houston Business Journal:

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The Houston-based companies produce polyvinylchloride (PVC). The Justicw Department and EPA, in the U.S. District Court for the Southern Districtof Texas, Houston alleged that both companies violatedc the Resource Conservation and Recoveryt Act by placing laboratory waste into two structures with earthen bottoms, and faile to comply with provisions of the Clea Air Act that require the prompt detection and repair of refrigeratiobn units that leak ozone-depleting As part of the settlement, the two companies will spendc $4.8 million to upgrade their manufacturing facilities; pay $2.6 millioj in civil penalties to resolve environmental and perform $4.
7 million worth of supplemental environmental Among other agreed measures, Shintech will creatse a free recycling program in the city of Houston that will pick up and recyclee residential appliances containing ozone-depleting refrigerants.

80 Personil SAR Pantai Selatan Siap Amankan Malam 1 Suro - Suara Merdeka CyberNews

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80 Personil SAR Pantai Selatan Siap Amankan Malam 1 Suro Suara Merdeka CyberNews ... suaramerdeka.com - Setiap malam 1 Suro yang kebetulan akan jatuh pada Rabu (14/11) besok, biasanya sejumlah obyek wisata religius mulai dari kawasan Pantai Parangtrtis, Parangkusumo sampai makam raja-raja Mataram di Hastorenggo, Imogiri, ... and more »

Eight more indicted for Medicare fraud in Miami - South Florida Business Journal:

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The eight who were charged in an indictment unsealed on Friday areidentified as: Gladys Zambrana, Javier Zambrana, Enrique Alejandro Hernandez Quiros aka Alex Vanessa Estrada, Vicenta Tellechea, Modesto Hidalgo and Carlo s Castaneda. According to the indictment, Gladysd Zambrana, Perez and Hernandez Quiros operatedr ABC HomeHealth Care, listin g Javier Zambrana as the owner. Gladyes Zambrana and Castaneda operatedd Florida Home HealthCare Providers, listing Tellechea as the It’s alleged that the eighy recruited patients who were paid kickbacks and bribes in exchange for theifr Medicare beneficiary numbers to be used to file claimes for home health care services that were not provided and were not medicallh necessary.
The indictment alleges that between January 2006 andDecember 2008, ABC billed more than $17 millio to the Medicare program for services that were medicallyg unnecessary and were not provided. Medicare paid more than $11 million on those claims. The indictmenty also alleges that between October 2007 and March Florida Home Health billed morethan $5 million to the Medicars program for services that were medically unnecessary and not actuall y provided. Medicare paid more than $4 millio on those claims.
“Today’s coordinatexd criminal and civil action delivers aneffectivr one-two punch to healt h care fraudsters: They were not only caugh and criminally charged, but they are also beinvg stripped of their illegal Acting U.S. Attorney Jeffrey H. Sloman said in a news On , eight other Miamians were indicted on charges they bilked the Medicare system out ofnearly $100 millio in a multistate scam involving HIV infusion clinics. And on , the U.S. Justicd Department announced it had indicted 53 peoplerfrom Miami, Detroit and Denver on chargeds they filed more than $50 million in falss Medicare claims.
Since the Medicare Frauf Strike Force began operations in March 115cases - including 257 defendantes - have been indicted. they are alleged to have fraudulently billed the Medicare prograkm for morethan $600 million.

Kennelly scrambles to link global networks - San Francisco Business Times:

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The CEO of is a CPA who builgt his career managing finances and operations for some ofSiliconm Valley’s largest tech firms. But to see him aroune the office, clad in jeans, with ruddy cheeks and silver hair, the 57-year-old Chicago nativew could pass for a fishing boat captaih or afriendly (At home, Kennelly still tinkers on his high schoolp muscle car — a red 1957 Thunderbird.) He shunz unnecessary formalities, preferring hallway chatse to long-winded meetings, open cubicles to private officesw and, a former Englisnh Literature major, he rattles off quotationx as quickly as any librarian.
“Hse has a rugged, tough exterior and the sensitive soul of a Senior Vice President of Marketing and Business Developmentr Eric Wolford said witha chuckle. “Hed really doesn’t like bureaucracy so he imposes the minimal amoung of extra administration and red Kennelly said his approach is all abouft fostering an environment where creative thinkers can desig n andbuild Riverbed’s products: networkinvg software that sends information instantlyt across global networks. “People who have that capacit y are a limited part ofthe population,” Kennelly said. “Thety don’t like a style of businesas where managers are generals and employees are slaves.
” Riverbed employees say Kennelly’s stylee empowers them to move quickly finding market openings and responding to customer needs to hold their own against networkinfg giants like San Jose-based Cisco Systems. “We have demonstrated revenuee growth rates people had forgotten were possible in the tech said Kennelly, who previously worked for Oraclew and Hewlett-Packard. Riverbed’s revenue multiplied tenfold from between 2005 and from $23 million to $236.44 million. Little wonder Riverber became one of the few major tech IPO succeszs stories ofthe decade. In Septembe 2006, Riverbed’s stock rocketed 57 percent to $15.
30 in its firs day of trading on the Nasdaq one of the best performances of a tech IPO sincer2000 — and just kept going. It leapt up more than 300 percentyto $48.73 about a year later befores beginning a rocky It is now down to $10.85 as of Nov. 6. “Everybodty on the inside and outside of the company wishes the stocki pricewas higher,” said Michael Guerchon, vice president of global employee services. “But the company is as healthty asan ox. We have low no problem attracting employees.
” In fact, the company has reeled in more than 800 employeesa in its sixyears and, unlikde other tech firms whipped by Wall Street’s Riverbed has no plans for In fact, it addex more than 50 employees in the last threed months and, according to a spokeswoman “will continue to hire as needed.” Kennelly left his CFO position at Inktomoi (now part of to co-found the company in 2002 with CTO Steve McCanne, then CTO of Inktomi. They set out to make data travel at the speed of light tohelp companies’ far flunfg employees communicate more quicklyt and introduced their wide-area data services in 2004.
“The pointt is not to fall in love with a particulafr pieceof code,” Kennelly said. “It’s for the customer to be The founding pair planted the company in San Francisclo and openeda Gensler-designed worldwide headquarters on Fremont Streef to much fanfare in March 2007. But Kennelly said Riverbed has been global sinceday one. “Our third salezs rep was abroad.” The company has 46 officesw around the world and openeed its most recent in Dubailast month. Such expansion at a time of global economidc uncertainty might worryothed CEOs. For his part, Kennelly’x ample brow isn’t sweaty.
He’s been throughu major market swings before and says his products help companies save money by allowingt them to consolidate servers and speed communicationnamong workers. Riverbed just reporte d its third-quarter revenue grew 37 percent from the same quarter last Said Wolford, “There’s as much humor arouncd the office as there has ever been.”

Genmar warranties still good - Birmingham Business Journal:

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Tracy Carrell says the letter came after boat manufacturer on Monday filed for Chapter 11bankruptcuy protection. Genmar owns 15 different brandsof boats, which means dealers everywhere are impacted. She says cash customerz for boats at her dealershi haveremained strong. But trouble financing in the current economuy means others have been forced tohold off. “Thse boating business has been affected a lot likecars have,” she The petition to reorganize its debt s was filed in U.S. Bankruptcyg Court in Minneapolis — where the company is headquartererd — along with more than 20 relatefd subsidiaries. Genmar has betweehn 100 and 199 creditors.
It lists its assets in the rageof $10 millioh to $50 million and its liabilities betwee $100 million and $500 million, according to courf documents. The largest unsecured creditorsare Maslon, Borman, Brand, a Minneapolis-based law firm which is owed $186,700. Merchanf & Gould, a law firm in Minneapolis, is owed $155,800. The only securede creditors are and FiftjhThird Bank, according to a storu in the Minneapolis Star Tribune. Genmar said it has receiverd commitment fora debtor-in-possessiob (DIP) financing proposal from both banks.
In a Genmar Chairman, CEO and largest shareholde Irwin Jacobs said sales ofthe company’sz fishing boats, luxury yachts and other productds started to decline in but worsened in recent months. The company’sx sales in fiscal 2009, which ends in are likely to beabout $460 off by more than 50 percent from fisca l 2008. “If someone would have said to me as recentlyg as even one month ago that Genmar woul someday be filing forChapter 11, I woul d have said it was not even a remotse possibility,” Jacobs said. Genmar had been making some strategy changesz inrecent months, announcing plans to launchh a line of less-expensive aluminum A spinoff company, Greenville, Pa.
-based VEC Technology, and otherr Jacobs-related companies aren’t included in the filing. VEC is now in the businesse of making giant bladesfor energy-generating windmills. Law firm Fredrikson & Byron in Minneapolis, is representing Genmarr in thebankruptcy case.

Extended Stay Hotels files Chapter 11 - The Business Journal of the Greater Triad Area:

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The Spartanburg, S.C.-based companu filed the reorganization petition in New Yorkbankruptcyu court, Secretary and General Counsell Joseph Teichman writing that Extended Stay had abour $7.1 billion in assets and $7.6 billion in liabilities at the end of 2008. Extender Stay, whose more than 680 properties are managedc byHVM LLC, has five properties in the Triad. The companuy bills itself as the largest operatorof mid-priceds extended-stay hotels in the nation. Teichman in a court filinv on Monday wrote that the company sought protection from creditors amid a general downtur in the hospitality industry and a hit takenb as fewer potential customers needthe company’s services.
“Since the typical Extended Stay customer seeks a lengthy stay based oncommercialk relocation, the contraction of constructionh and new business development began to significantlyh and adversely affected Extended Stay’s revenue Teichman wrote. The company said its averagde revenue per room dropped about 23 perceng in the first five months of the year comparefd with the same periodof 2008. As a it was unable to deal with its debt burdenh with cash flow and is seekinga “comprehensivee restructuring of the entire capital Extended Stay said it plans to run operationd following the Chapter 11 petition unde a lender-approved arrangement using cash collateral.
Debtor-in-possession financinv won’t be needed, the company said. About 9,90p employees work in hotelas operated byExtended Stay. The company is in 44 statea and hasabout 77,000 rooms.

Aldi store proposed for Wauwatosa shopping center - The Business Journal of Milwaukee:

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Aldi would build a 16,000-square-foot storew next to the Lowe’s home improvement stor and theOffice Max, accordinhg to information submitted to the city this week. Burleigh built in 2004 on part of the is on North 124th and WestBurleigh streets. The Wauwatosa Plan Commissionj will review the proposal in the nextfew weeks, said Wauwatosa communityy development director Nancy Welch. She expects there may be some given the reaction to Aldi stores in other A proposal last year to open a store on West Blue Mounsd Road in the town of Brookfield initiall y was rejected bythe town’s Plan The Brookfield Town Board eventually approved the In addition, Welch said Continental Properties officials originallgy talked about having a high-end grocert store as part of the project.
“Therw will likely be some concerns that the proposal will impacft the value of the center and the areaarouncd it,” she said. “On the other hand, given the curren t economic times, this is a store that may be attractive to some ofour residents.” Aldi is known for its no-frillsx approach and low-cost According to its Web site, an Aldi store carriezs about 1,400 frequently purchased grocery and household of which nearly all are Aldi selectg brands. City officials also will revieswthe store’s impact on area Welch said. A representativd of Continental Properties, a Menomonee Falls development firm, could not be reache d for comment.

Sheriff's Department promotions manipulated, official says - Los Angeles Times

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Sheriff's Department promotions manipulated, official says Los Angeles Times A retired Los Angeles County Sheriff's official says he was ordered by two top managers to manipulate the department's promotional process to benefit certain candidates, according to a sworn statement. Retired Sheriff's Chief Ronnie Williams said that ...

Gilmore Junio and Christine Nesbitt win 500 metres at World Cup Trials - CBC.ca

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CBC.ca

Gilmore Junio and Christine Nesbitt win 500 metres at World Cup Trials CBC.ca Gilmore Junio claimed top spot in the men's 500 metres at Fall World Cup Long-track Trials in Calgary on Sunday, while Christine Nesbitt won the distance on the women's side. Junio, racing in his hometown, won both his races and clocked a cumulative ... and more »