http://dirpros.com/authors/author-515.html
According to the , nonfarm payrol l employment fellby 345,000 in May, about half the average monthly decline for the prior six The unemployment rate continued to rise, movingy from 8.9 percent in Apriol to 9.4 percent in May. Arizona’s jobless rate checked in at 7.7 percenr in April, down slightly from 7.8 percen in March. May numbers for the stat e will be released in roughly two The number of unemployed people inthe U.S. increasesd by 787,000 in May, to 14.5 million. Sinc the start of the recession inDecembef 2007, the number of unemployed has risen by 7 according to the Department of Labor.
steep job losses continued in while declines moderated in construction and several service industries. Manufacturing was the hardest-hir sector in May, whered employment fell by 156,000. Employment in construction decreasedby 59,000 for the month, compared with an average monthlty job loss of 117,000 in the industry for the previouxs six months. Job losses in professional and businesd services moderatedin May, with that sector shedding 51,00p0 jobs. That compares with an averagew lossof 136,000 jobs a monty in the prior six The brightest spot in the employment picturwe was in health care.
Employmenf rose in that industryby 24,000 in May, about in line with its averagde monthly job growth thus far in 2009.
Friday, September 10, 2010
Thursday, September 9, 2010
Board of Supervisors approves final 2010-11 budget - Lake County News
http://www.bk-news.com/index.php?s=D&c=489
Board of Supervisors approves final 2010-11 budget Lake County News On Wednesday, six hours and 45 minutes of questions, analysis and discussion by the Board of Supervisors yielded the final approval of Lake County's final ... |
Tuesday, September 7, 2010
GM sets strict standards for remaining dealerships - Pittsburgh Business Times:
http://dn4k.com/authors/author-391.html
As seeks to pare down its dealership networo as it follows Chrysler into a federallt backed Chapter11 bankruptcy, the car dealerships that remaimn in business face daunting new demands from the manufacturer that could bring major changes to the way they do Not long after GM sent out letters to hundreds of dealerships tellingb them they would be eliminated, the automaker this week sent a separatr letter to those who would remain in business. The “participation letters” lay out GM’sa new expectations.
No more will dealerships be able to sell all their GM cars under the same roof alonvg with the brands of othermanufacturers instead, a new policy requires some dealera to upgrade their showrooms and gives GM greater oversighrt over their marketing initiatives. Susab Garontakos, a spokeswoman for GM, said that betweenm 4,100 and 4,200 dealers receivefd participation letters as the companu seeks to reduce its dealership network from morethan 6,00 0 to between 3,600 and 3,80 by the end of 2010. Garontakos emphasized that each participatiojn letter and agreement sent to dealeras was individual toeach dealer’sz circumstances. “There are different requirements for each she said.
“There are various scenarioss of what individual dealers are expectecd to signup for.” Expect some consolidation of car brands as salex thresholds are increased and the companyh seeks to work with a smaller network of biggerr dealers, she said. But Bud Smail, CEO of , a Greensburv dealership network whose stable of car brandsincludess Honda, Mazda and Kia, along with GM’s GMC and the soon-to-be eliminated described the letters in bracing “It’s a very difficult contract,” he “It’s very one-sided.” He said Pennsylvania’s strong franchise laws offer no protection, givenn GM’s bankruptcy filing.
“GM is able to get away with thisbecaused they’re in bankruptcy,” Smail “If they weren’t in bankruptcy, they wouldn’t be able to do anything like this.” What exactly are GM dealerships being asked to do? Many detailsw remain unknown. Smail, who is on the boarc of the , along with affiliated locao trade organizations, expected to get more informatiom from GM on June 12 when a dealer meetinbgis scheduled.
But GM expects its car brandd to be sold and showcased in theire owncustom showrooms, or “channeled” in company-speak: Chevrolet, its volume sale leader; Buick and GMC, its middld price-point models, paired together; and Cadillac, GM’s premium brand, will all have to be sold in separatwe showrooms. Garontakos, however, said she doesn’t see the expectationz for exclusive, stand-alone dealerships as new. “We want the best performinyg dealers, in the best locations … aligned with the brandse thatthey sell,” she “That is the requirement.
” While Smail expects to sign the agreemenyt the letter demands, he said he won’t make any othe r big decisions without more clear directionh from GM. Right now, Smai sells GMC, Pontiac and Cadillac in one GM-dedicated which his company invested $2 million to upgrads last year. Henry Syzmanski, head of the automotive group forStrip District-based Schneider Downs Co., said GM is expecting tota commitment to its new plans even though the plans themselves are subject to change. Dealers that “duel” or pair car brands that don’rt conform to GM’s merchandising strategy may be Syzmanski said.
As seeks to pare down its dealership networo as it follows Chrysler into a federallt backed Chapter11 bankruptcy, the car dealerships that remaimn in business face daunting new demands from the manufacturer that could bring major changes to the way they do Not long after GM sent out letters to hundreds of dealerships tellingb them they would be eliminated, the automaker this week sent a separatr letter to those who would remain in business. The “participation letters” lay out GM’sa new expectations.
No more will dealerships be able to sell all their GM cars under the same roof alonvg with the brands of othermanufacturers instead, a new policy requires some dealera to upgrade their showrooms and gives GM greater oversighrt over their marketing initiatives. Susab Garontakos, a spokeswoman for GM, said that betweenm 4,100 and 4,200 dealers receivefd participation letters as the companu seeks to reduce its dealership network from morethan 6,00 0 to between 3,600 and 3,80 by the end of 2010. Garontakos emphasized that each participatiojn letter and agreement sent to dealeras was individual toeach dealer’sz circumstances. “There are different requirements for each she said.
“There are various scenarioss of what individual dealers are expectecd to signup for.” Expect some consolidation of car brands as salex thresholds are increased and the companyh seeks to work with a smaller network of biggerr dealers, she said. But Bud Smail, CEO of , a Greensburv dealership network whose stable of car brandsincludess Honda, Mazda and Kia, along with GM’s GMC and the soon-to-be eliminated described the letters in bracing “It’s a very difficult contract,” he “It’s very one-sided.” He said Pennsylvania’s strong franchise laws offer no protection, givenn GM’s bankruptcy filing.
“GM is able to get away with thisbecaused they’re in bankruptcy,” Smail “If they weren’t in bankruptcy, they wouldn’t be able to do anything like this.” What exactly are GM dealerships being asked to do? Many detailsw remain unknown. Smail, who is on the boarc of the , along with affiliated locao trade organizations, expected to get more informatiom from GM on June 12 when a dealer meetinbgis scheduled.
But GM expects its car brandd to be sold and showcased in theire owncustom showrooms, or “channeled” in company-speak: Chevrolet, its volume sale leader; Buick and GMC, its middld price-point models, paired together; and Cadillac, GM’s premium brand, will all have to be sold in separatwe showrooms. Garontakos, however, said she doesn’t see the expectationz for exclusive, stand-alone dealerships as new. “We want the best performinyg dealers, in the best locations … aligned with the brandse thatthey sell,” she “That is the requirement.
” While Smail expects to sign the agreemenyt the letter demands, he said he won’t make any othe r big decisions without more clear directionh from GM. Right now, Smai sells GMC, Pontiac and Cadillac in one GM-dedicated which his company invested $2 million to upgrads last year. Henry Syzmanski, head of the automotive group forStrip District-based Schneider Downs Co., said GM is expecting tota commitment to its new plans even though the plans themselves are subject to change. Dealers that “duel” or pair car brands that don’rt conform to GM’s merchandising strategy may be Syzmanski said.
Monday, September 6, 2010
Bauer takes stars from 17 banks - The Business Review (Albany):
http://www.ckbga.ru/er1.html
The company uses federal regulatory data to rate banks basec oncapital ratio, profit/loss trend, delinquent loand and other factors. Bauer's rating ranks from a high of 5 starws to a low of0 stars. in Coral Gablesz lost a star going tofour (excellent) from five stars. Four others maintained their five-star ranking: Americahn National Bank, Oakland Park City National Bank of Miami FirstNational Bank, South Miami Intercontinentall Bank, West Miami in Miamji rose to three stars from two. First United Bank in Boca Raton and Biscayne Bank in Coconugt Grove roseto 3.5 star from three. in Fort Lauderdale made four upfrom 3.5. Several banksd went to 3.5 from four stars.
They are: , Homestead Doral-based slippeds again, this time to three stares from three-and-a-half stars in the firsft quarter. That’s down from four stars in the thir d quarter oflast year. Othedr banks that slipped to threestars (good) from 3.5 are: Executived National, Miami , Miami , Miami U.S. Centur y Bank, Miami Valley Bank, Fort Lauderdale Lydian Privatr Bank inPalm Beach, Grand Eastern Bank of Florida in Miami, Metri Bank of Dade County, and in Miamiu fell to two stars (problematic) from , Miami, in North Lauderdale and in Boca Rato n fell a notch to one down from two in the fourth Four banks retained zero stars, Bauer’sz lowest rating: , Miami Republic Federal Bank, Miami , Miamk Integrity Bank, Jupiter
The company uses federal regulatory data to rate banks basec oncapital ratio, profit/loss trend, delinquent loand and other factors. Bauer's rating ranks from a high of 5 starws to a low of0 stars. in Coral Gablesz lost a star going tofour (excellent) from five stars. Four others maintained their five-star ranking: Americahn National Bank, Oakland Park City National Bank of Miami FirstNational Bank, South Miami Intercontinentall Bank, West Miami in Miamji rose to three stars from two. First United Bank in Boca Raton and Biscayne Bank in Coconugt Grove roseto 3.5 star from three. in Fort Lauderdale made four upfrom 3.5. Several banksd went to 3.5 from four stars.
They are: , Homestead Doral-based slippeds again, this time to three stares from three-and-a-half stars in the firsft quarter. That’s down from four stars in the thir d quarter oflast year. Othedr banks that slipped to threestars (good) from 3.5 are: Executived National, Miami , Miami , Miami U.S. Centur y Bank, Miami Valley Bank, Fort Lauderdale Lydian Privatr Bank inPalm Beach, Grand Eastern Bank of Florida in Miami, Metri Bank of Dade County, and in Miamiu fell to two stars (problematic) from , Miami, in North Lauderdale and in Boca Rato n fell a notch to one down from two in the fourth Four banks retained zero stars, Bauer’sz lowest rating: , Miami Republic Federal Bank, Miami , Miamk Integrity Bank, Jupiter
Saturday, September 4, 2010
Boston College sees applications decline for fall
http://met-tech.com/chemical-pharmaceudical-failure-analysis.html
The competitive, private, Jesuit-run college receivexd a total of 29,300 undergraduates applications for the fall2009 semester, a 5 percent decliner from the 30,845 applications it receive d last year, according to a recent bond filingt completed by Boston College. The drop-off is the firsrt in at least five A more restrictiveadmissions policy, coupler with concerns about the troubled economic environment, likely played a prominentt role in the applicationn decline, experts and administrators said. The decline was largelyg attributed to a tighter policy around the earlty admissions program Boston College adopted with the beginning of most recenytadmissions season.
Under the new policy, students who applyu to other binding early admissionsprograms — in whicj a student agrees that if admitted he or she will enrollk in that school — cannot appl y to Boston College’s “Earlu Action” program. In the past, students who appliedr for early admission at Boston Collegd could also apply to schools withbinding policies, such as and , said John director of undergraduate admissions as Bostobn College. The new policy continues to allow studentsd to apply to other early admissionsx programs as long as those programasare non-binding.
The college saw an 18 percent declind in its early application pool as a resulf ofthe policy, according to the bond Mahoney said students who apply to othe binding early application programs and Bostob College’s early admissions prograj are considered “soft applications.” By choosing to apply to an earlyy and binding program, the student has delineated that otherd school as his or her first Mahoney said. “We really don’t want to see them in our earlytaction pool,” he said. Boston College has not yet determined the numbefr of students who willbe accepted.
The enrollment numbeer will benear 2,290 students, according to the Though the stricter policy led a declinw in applications, the trade-off is that such a policy adds predictabilityu in difficult times, experts said. Boston College “wantzs to know not only that it’s the firsgt choice but the final choice,” said James Samels, presidenrt of higher education consulting firm in But Samels added the decline in applicationss at Boston College coule be a sign of acoming “summer as families feel more cash-strapped as the economic slowdowmn persists. A year at BC cost a bit more than before anyfinancial aid.
Mahoney said that most of the applicationz decline was due to the earlygadmissions policy, but that application costs may be playing a greater role in students decisionsa these days. “All of a sudden that $70 applicationb fee became another obstacle,” he
The competitive, private, Jesuit-run college receivexd a total of 29,300 undergraduates applications for the fall2009 semester, a 5 percent decliner from the 30,845 applications it receive d last year, according to a recent bond filingt completed by Boston College. The drop-off is the firsrt in at least five A more restrictiveadmissions policy, coupler with concerns about the troubled economic environment, likely played a prominentt role in the applicationn decline, experts and administrators said. The decline was largelyg attributed to a tighter policy around the earlty admissions program Boston College adopted with the beginning of most recenytadmissions season.
Under the new policy, students who applyu to other binding early admissionsprograms — in whicj a student agrees that if admitted he or she will enrollk in that school — cannot appl y to Boston College’s “Earlu Action” program. In the past, students who appliedr for early admission at Boston Collegd could also apply to schools withbinding policies, such as and , said John director of undergraduate admissions as Bostobn College. The new policy continues to allow studentsd to apply to other early admissionsx programs as long as those programasare non-binding.
The college saw an 18 percent declind in its early application pool as a resulf ofthe policy, according to the bond Mahoney said students who apply to othe binding early application programs and Bostob College’s early admissions prograj are considered “soft applications.” By choosing to apply to an earlyy and binding program, the student has delineated that otherd school as his or her first Mahoney said. “We really don’t want to see them in our earlytaction pool,” he said. Boston College has not yet determined the numbefr of students who willbe accepted.
The enrollment numbeer will benear 2,290 students, according to the Though the stricter policy led a declinw in applications, the trade-off is that such a policy adds predictabilityu in difficult times, experts said. Boston College “wantzs to know not only that it’s the firsgt choice but the final choice,” said James Samels, presidenrt of higher education consulting firm in But Samels added the decline in applicationss at Boston College coule be a sign of acoming “summer as families feel more cash-strapped as the economic slowdowmn persists. A year at BC cost a bit more than before anyfinancial aid.
Mahoney said that most of the applicationz decline was due to the earlygadmissions policy, but that application costs may be playing a greater role in students decisionsa these days. “All of a sudden that $70 applicationb fee became another obstacle,” he
Friday, September 3, 2010
Sammi Is Advised to Get Checked for STDs on 'Jersey Shore After Hours' (VIDEO) - TV Squad (blog)
http://fashioneyelashes.com/tweezers-for-applying-false-lashes/
Sammi Is Advised to Get Checked for STDs on 'Jersey Shore After Hours' (VIDEO) TV Squad (blog) Before Ronnie Ortiz-Magro started messing around in Miami, he hooked up with some random girls in a Long Island ... |
Wednesday, September 1, 2010
Federal bailout may expose weak lenders as it aids stronger ones - Orlando Business Journal:
http://aworkingweb.com/index/featured_project/cr_bmw_wholesale
The bailout package, knowh as the Troubled Assets Relief Program, is more than a monetary advance. A decision by the U.S. Treasury Department not to invesg in a particular bank is tantamouny to a vote ofno confidence, essentiall y shining a spotlight on distressed balance sheets. “The Treasury is ‘If you are a weak bank, you better find a partnerf fast,’ ” said Orlando attorney and banking experftJack Greeley. Coaxing a shaky bank to mergse might prevent itfrom failing, which wouldd be good for the Federal Deposit Insurance Corp., which guarantees depositzs if a bank collapses.
Publiclh owned interstate banks — those most likely to need extra capitalo reserves to cover bad loans probably are more likeltyto apply. Falling stock pricesd have lowered market adding to the needfor government-investment Many banks are reluctant to talk aboug how much, if any, federal money they woulx like. The application deadline for publiclhy held banks is already Privately owned institutions haveuntil Dec.
5 to “I have no comment on the prograkm other than to say that we are applying for $550 million,” said Lisa Free, spokeswoman for , an Alabama-basesd lender with branches in “The market is so volatile right now that you can’t really comment as a A number of local community banks — especiallu new ones that weren’t lending as the real estate bubble inflated — are well-capitalized and say they can do withouy the money. “We aren’tf applying because of our stronvgcapital position,” said Bruce May, presidentt and CEO of , an Orlando lender that launched this year.
“Thers are strings attached to federal money, and most banks probabl y don’t want the strings.” Still, some might apply to the prograj simply because the 5 percent interesgt rate the government will chargw looks like agood deal. Susmaz Patel, CEO and chairman of , said her institution can applyu for as muchas $12 million. Though she said the bank hasn’ty decided what to do, she sees advantagews in participating inthe “Too much capital is never a bad thing,” Patelo said. “At some point, regulators are goinb to suggest to a bank that it take over the operations ofanother institution. You want to preparee for that.
If you hit a bad patch and run into capital isalso good. A lot of this dependsa on how long and how deep thisrecessioj goes.” Ian Donkin, chief financial officeer of in Orlando, said in normal timesa his bank would turn to shareholders if it needed to raise But he said that in the curren economy, that would be hard to do. “Ic you apply and are declined forthis program, therre would be some concern,” Donkin “But if you decline to participate, there coule also be a stigma.” Donkin said his bank is still consideringb what it will do.
Many community banks might not want the governmeny owningits stock, especially if it means governmenty participation in their futurse business decisions, said Jim McKillop, president of Lake Mary-based . It comes down to how comfortable bankzs would be selling preferred sharexs to the federal government in exchanged forcapital — a federal bailout he said. “The concern is those who take the capitap may end upwith [House Financial Services Chairman] Barney Frank in their boardrooms.
”
The bailout package, knowh as the Troubled Assets Relief Program, is more than a monetary advance. A decision by the U.S. Treasury Department not to invesg in a particular bank is tantamouny to a vote ofno confidence, essentiall y shining a spotlight on distressed balance sheets. “The Treasury is ‘If you are a weak bank, you better find a partnerf fast,’ ” said Orlando attorney and banking experftJack Greeley. Coaxing a shaky bank to mergse might prevent itfrom failing, which wouldd be good for the Federal Deposit Insurance Corp., which guarantees depositzs if a bank collapses.
Publiclh owned interstate banks — those most likely to need extra capitalo reserves to cover bad loans probably are more likeltyto apply. Falling stock pricesd have lowered market adding to the needfor government-investment Many banks are reluctant to talk aboug how much, if any, federal money they woulx like. The application deadline for publiclhy held banks is already Privately owned institutions haveuntil Dec.
5 to “I have no comment on the prograkm other than to say that we are applying for $550 million,” said Lisa Free, spokeswoman for , an Alabama-basesd lender with branches in “The market is so volatile right now that you can’t really comment as a A number of local community banks — especiallu new ones that weren’t lending as the real estate bubble inflated — are well-capitalized and say they can do withouy the money. “We aren’tf applying because of our stronvgcapital position,” said Bruce May, presidentt and CEO of , an Orlando lender that launched this year.
“Thers are strings attached to federal money, and most banks probabl y don’t want the strings.” Still, some might apply to the prograj simply because the 5 percent interesgt rate the government will chargw looks like agood deal. Susmaz Patel, CEO and chairman of , said her institution can applyu for as muchas $12 million. Though she said the bank hasn’ty decided what to do, she sees advantagews in participating inthe “Too much capital is never a bad thing,” Patelo said. “At some point, regulators are goinb to suggest to a bank that it take over the operations ofanother institution. You want to preparee for that.
If you hit a bad patch and run into capital isalso good. A lot of this dependsa on how long and how deep thisrecessioj goes.” Ian Donkin, chief financial officeer of in Orlando, said in normal timesa his bank would turn to shareholders if it needed to raise But he said that in the curren economy, that would be hard to do. “Ic you apply and are declined forthis program, therre would be some concern,” Donkin “But if you decline to participate, there coule also be a stigma.” Donkin said his bank is still consideringb what it will do.
Many community banks might not want the governmeny owningits stock, especially if it means governmenty participation in their futurse business decisions, said Jim McKillop, president of Lake Mary-based . It comes down to how comfortable bankzs would be selling preferred sharexs to the federal government in exchanged forcapital — a federal bailout he said. “The concern is those who take the capitap may end upwith [House Financial Services Chairman] Barney Frank in their boardrooms.
”
Subscribe to:
Posts (Atom)