judonebolayb1394.blogspot.com
That was the sentimentf of an eight-member panel of training and government experts gathered by the South Florida Businessa Journal to examine howthe $787 billion federak stimulus package is impacting the region’s educatiohn and workforce training sectors. The panel markec the third in theBusiness Journal’ws ongoing stimulus series, aimed at tracking and analyzing the flow of money from the American Recovery and Reinvestmen t Act into South Florida.
Florida’s Legislature was the only one nationallyg to request a federal waiver that allowedr it to take money from education and replacs it with stimulus dollars while other states used stimulus dollars to augment the The situation concerned paneliststate Sen. Eleanor Sobel. “We are not startinvg at the starting line. The school districgt in Broward County and those throughout the statw are starting behind thestarting line,” Sobel “They have had problems for years and they are all Veteran educator Robert Parks, a membedr of the Broward County School said, “Many of the large urbanj districts in the nation are afraid of one which is basically a bait and switc with those dollars.
” What’s even more worrisome to some expertss is that the stimulues money will eventually run out. “I’m really concernexd about in three years; what’s going to happen?” said Vicente, president of ’s North Campus. “This is a Band-Aid.” He said the college’s operatinvg budget was cut $22 million while the stimulus moneyu wasonly $13 million. Parks said Broward County’sa school system has cut $1.4 billion from its constructiomn budget in addition to furloughinbg 700 teachers and51 administrators. “We’vd closed all of our school officesw forthe summer. We don’t have summer schoolo anymore,” Parks said.
would have been looking at cutting its budgert byabout $30 million without $12 millionn in stimulus funds, said Dorothy K. Russell, the university’sz associate VP for financial affairs and budget The university cut 30 positionsand “had we not had the stimuluas dollars it could have been much more George Hanbury, executive VP and COO of , said the $1.3 billionj in stimulus funds given to the state relieved pressures on the Legislature to furthe reduce support for Florida Resident Accessw Grants (FRAG), a key sourcee of money for students, but he pointed out that the grantds used to be $3,000 a year for studentsa and are now $2,529.
The amount is importangt to students, who find enrollment caps at state universities and turn to NSU and othertprivate institutions. He also said that universities are workinv together to apply for federal stimulus NSU has a collaborative proposal with and FAU fora $50 millionn research building with wet labs, businesd incubator space and offices for the U.S. Geological which is helping overseeEverglades restoration. “Wwe have shovel-ready projects we have submitted to the Governo r and in the next 60 days we couldput 1,000o people to work,” Hanbury The competition for thesre types of projects, though, is fierce.
FAU is gettin about $12 million in direct infusion from the federa lstimulus package, but the university also is seekingh money from the for labs and instruments, Russellk said. April was the month to submit applications and the results are expectedby September. The strongest flow of money, so far, appears to be for programs that help the jobless asthe state’s unemploymeng rate has hit 10.2 percent.
Friday, November 30, 2012
Thursday, November 29, 2012
Survey: Venture capitalists shift strategy, go global - Jacksonville Business Journal:
tatyanagepoji.blogspot.com
More than half of the venture capitalists surveyed in the 2009 Globa l Venture Capital Survey conducted by and the said they woule invest in fewer companies in thenear future, while 13 percent of the more than 700 worldwide respondents said they would increase the numberd of companies in whicjh they plan to invest. Despite sluggish investment, the annuakl survey captured substantial optimism amongh theinherently risk-taking investors.
“While the recession has slowed the pace of venturre investing in theshort term, it may very well have expeditesd the global evolution of the industry in the long said Mark Jensen, Deloitte LLP’s national managing partner of venturd capital services. “In recent many entrepreneurs who have been educated in the United Statesw have returned home to startr companies in theirhome countries. The playing field continue s to level out in terme of new innovationhot spots, broader access to capital and growinf regional ecosystems that foster risk taking and capitapl formation.
” And venture capitalistse agree that investments are more likely to increase in countries outsidw of the U.S. than domestically in the next three years. Half of the venture capitalistz surveyed said investment will increase inAsia (excluding India); 43 percenyt named India; 36 percent selected Southy America; 25 percent said Europe and the United and just 17 percent said investment would increase in North Fifty-two percent of all venture capitalists surveyed said they already invest outsid e their home countries.
“As the surveuy results suggest, we will see more globalization in the next not only in terms of investments but also in fundraisin g and exitsas well,” said Mark Heesen, president of the “Those countries that can nurture entrepreneurs and investorsx as well as offer attractive exit opportunities have the most to gain economicallyy in the next he added. Survey respondents said China stoord to benefit most from shift s in investment caused by theeconomicf downturn.
When it comes to fundraising, the majoritty of VCs predicted that more of their limited partners woul come from outside theirhome country, and 38 percent said they expectef the number of foreign limited partners to remaijn unchanged. Other findings from the survey included another vote of confidencer for investment in the clean tech sector. The survey suggestas most venturecapitalists aren’t adjusting their strategies when it comes to whicuh industry they are funding, and clean tech is one of thosw industries that’s been getting a lot of attention.
More than 60 percentf of the venture capitalists surveyed said they expecrt to increase their investments in clean tech in the nextthrese years. Other industry sectors that investors expect to give increasing investment to includer the medical device and equipment industry and new mediq andsocial networking.
More than half of the venture capitalists surveyed in the 2009 Globa l Venture Capital Survey conducted by and the said they woule invest in fewer companies in thenear future, while 13 percent of the more than 700 worldwide respondents said they would increase the numberd of companies in whicjh they plan to invest. Despite sluggish investment, the annuakl survey captured substantial optimism amongh theinherently risk-taking investors.
“While the recession has slowed the pace of venturre investing in theshort term, it may very well have expeditesd the global evolution of the industry in the long said Mark Jensen, Deloitte LLP’s national managing partner of venturd capital services. “In recent many entrepreneurs who have been educated in the United Statesw have returned home to startr companies in theirhome countries. The playing field continue s to level out in terme of new innovationhot spots, broader access to capital and growinf regional ecosystems that foster risk taking and capitapl formation.
” And venture capitalistse agree that investments are more likely to increase in countries outsidw of the U.S. than domestically in the next three years. Half of the venture capitalistz surveyed said investment will increase inAsia (excluding India); 43 percenyt named India; 36 percent selected Southy America; 25 percent said Europe and the United and just 17 percent said investment would increase in North Fifty-two percent of all venture capitalists surveyed said they already invest outsid e their home countries.
“As the surveuy results suggest, we will see more globalization in the next not only in terms of investments but also in fundraisin g and exitsas well,” said Mark Heesen, president of the “Those countries that can nurture entrepreneurs and investorsx as well as offer attractive exit opportunities have the most to gain economicallyy in the next he added. Survey respondents said China stoord to benefit most from shift s in investment caused by theeconomicf downturn.
When it comes to fundraising, the majoritty of VCs predicted that more of their limited partners woul come from outside theirhome country, and 38 percent said they expectef the number of foreign limited partners to remaijn unchanged. Other findings from the survey included another vote of confidencer for investment in the clean tech sector. The survey suggestas most venturecapitalists aren’t adjusting their strategies when it comes to whicuh industry they are funding, and clean tech is one of thosw industries that’s been getting a lot of attention.
More than 60 percentf of the venture capitalists surveyed said they expecrt to increase their investments in clean tech in the nextthrese years. Other industry sectors that investors expect to give increasing investment to includer the medical device and equipment industry and new mediq andsocial networking.
Tuesday, November 27, 2012
Military Spouses Don't Stay 'Mum' on Anything... - Huffington Post
ogarawo.wordpress.com
Military Spouses Don't Stay 'Mum' on Anything... Huffington Post I just read Michelle Boorstein's Op-Ed in the Washington Post that claimed "Military Spouses Stay Mum on the Subject of Infidelity." That's news to me -- my friends and I can't seem to shut up about it. I'll blather my mil spouse opinions to anyone ... |
Monday, November 26, 2012
UPA has the numbers, but keen to avoid vote on FDI - Times of India
sucujovide.wordpress.com
Times of India | UPA has the numbers, but keen to avoid vote on FDI Times of India NEW DELHI: The UPA can easily clear the voting test on its decision to » |
Sunday, November 25, 2012
Singer Bjork's vocal cord surgery successful - Boston.com
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Zap2it.com (blog) | Singer Bjork's vocal cord surgery successful Boston.com LONDON (AP) â€" Icelandic singer Bjork says she has had successful surgery to remove a vocal cord polyp. The eccentric 47-year-old singer says on her official website that she had been trying to tackle the problem with exercises and diets since doctors ... Bjork Un dergoes Successful Vocal Cord Surgery Bjork: Surgery successful after canceled tour dates Bjork Undergoes Successful Surgery For Vocal Cords |
Friday, November 23, 2012
The noose tightens - The Economist (blog)
ogarawo.wordpress.com
Aljazeera.com | The noose tightens The Economist (blog) ON OCTOBER 26th an appeals court in New York sent shock waves through the sovereign debt markets, when it upheld a ruling that Argentina could not service the bonds it issued in its 2005 and 2010 debt restructurings unless it also paid the investors ... Argentina rebuff US court over debt rulin g Investors flee Argentine debt on default fears Argentina's options shrink after US debt ruling |
Thursday, November 22, 2012
Gov. Mary Fallin Talks to Greta Van Susteren About Health Care Decisions - NewsOK.com (blog)
ogarawo.wordpress.com
Gov. Mary Fallin Talks to Greta Van Susteren About Health Care Decisions NewsOK.com (blog) GRETA VAN SUSTEREN: Obamacare may be the law of the land but that is not stopping many Republican governors. They are still keeping up their fight. Oklahoma Governor Mary Fallin is one of those governors, and Oklahoma is just one of the states ... |
Wednesday, November 21, 2012
Ramsay stepping down as UMd-Baltimore chief - Washington Business Journal:
grigoriynirim.blogspot.com
During his tenure, Ramsay was instrumental in launching the ambitiousd UMB BioPark andthe university’s west-side expansion efforts. In a letter to colleagues, Ramsaty said he would step down once the selectahis successor. “Until that time I shalll continue to serve this campus to the best of my ability so that the comingg year will be at least as productive as what has gone Ramsay said in the Ramsay has grown UMB intoa top-notc research institution, said University System of Maryland Chancellore William E. “Brit” “It’s a different place than what he came Kirwan said.
“He came in with a real mission of buildiny the quality of the institution and he has done that in anexceptionakl fashion.” Kirwan said he will form a searcb committee to find Ramsay’s The process could take anywhere from a few months to a Ramsay, 70, is the past chair of the Association of Academic Health Centers and was recently appointedx its first foreign secretary. He also serves on the boarde ofthe , the Downtown Partnership of Baltimore Inc.
, the and the in
During his tenure, Ramsay was instrumental in launching the ambitiousd UMB BioPark andthe university’s west-side expansion efforts. In a letter to colleagues, Ramsaty said he would step down once the selectahis successor. “Until that time I shalll continue to serve this campus to the best of my ability so that the comingg year will be at least as productive as what has gone Ramsay said in the Ramsay has grown UMB intoa top-notc research institution, said University System of Maryland Chancellore William E. “Brit” “It’s a different place than what he came Kirwan said.
“He came in with a real mission of buildiny the quality of the institution and he has done that in anexceptionakl fashion.” Kirwan said he will form a searcb committee to find Ramsay’s The process could take anywhere from a few months to a Ramsay, 70, is the past chair of the Association of Academic Health Centers and was recently appointedx its first foreign secretary. He also serves on the boarde ofthe , the Downtown Partnership of Baltimore Inc.
, the and the in
Monday, November 19, 2012
Monolith's Wood Skins For The iPhone 5 Are Simply Sublime [Review] - Cult of Mac
tenamup.wordpress.com
Monolith's Wood Skins For The iPhone 5 Are Simply Sublime [Review] Cult of Mac Monolith's Wood Skins For The iPhone 5 Are Simply Sublime [Review]. Monolith's new wood skins for the iPhone 5 are every bit as good as the replacement backs they made for the iPhone 4… and that's saying something. Read our full Reviews archive ... |
Sunday, November 18, 2012
Eddie Bauer declares bankruptcy - Atlanta Business Chronicle:
azajir.wordpress.com
had struggled with its debt — a crisise that worsened as revenue dropped, part of an overall tren affecting most retailers duringthe recession. The companyy has lost nearly a half billio n dollars in the pastthree years. Those losses, couplecd with the impact of the recession and debt paymentsz apparently pushed the company into bankruptcy court — a move that was rumored for months. Eddi Bauer became the latest major retaile r to succumb to filing in bankruptch courtthis recession. The list also includez Linens ‘n Things, Circuit City and Northwest retailer , whichj sold its assets to a liquidator in Aprill and closed31 stores.
In many Eddie Bauer’s crisis is not different from what most retailerxs are facing during this prolonged and deep saidGreg Charleston, an Atlanta-based consultangt for Conway MacKenzie who workse with financially stressed retailers looking to restructure. Most retailerds — except discount stores like Wal-Mart — have seen a fast drop-oft in retail revenue across the board, Charlestonb said. Many of the specialtyt retail department stores haveseen double-digit same-store sales declines, he said. “Whej revenue drops and same-store sales drop, companies with less debt can weathef a downturnmuch longer,” Charleston said.
“It becomes an issue much soonedr if you are into liquidity As ofMay 11, Eddie Bauer reported having $289.55 million in outstanding debt, including $187.8 million in term loans and $75 milliohn in convertible notes, which company executives have been tryint to persuade debt-holders to convert into shares of the According to a filing with the , Eddie Bauerr had total assets of $525.22 million in The company listed total liabilities of $448.9 Eddie Bauer reported net lossexs of $165.5 million in fiscal year part of a total of $478.7 million in losses during the past three fiscaol years. In the first quarter that endedin April, the compan y reported net losses of 44.5 million.
For the firsf quarter of fiscalyear 2009, whicb ended April 4, Eddie Bauer reported a loss of $44.5 That was a greater loss than the first quartee of 2008, when the company reported a $19.3 million loss. Net sales for the first quarte r of 2009were $179.8 million, comparec with net sales of $213.2 millioj in the first quarter of 2008. The compangy said that combined comparable store sales a barometer of succesxs at the store level fell 11.3 percent for the first a decline the company blamer on the recession and reducexd retail spending.
Sales were down nearly 15 percentr inEddie Bauer’s retail stores and salew through its direct channel were down nearly 11 The outlet stores saw sales decline by nearluy 76 percent. “The first quarter was a difficult one, as the sharlp downturn in the economy took its toll on our We continued to focus on cost cuttinvg and cash flow which helped mitigate the impact of lower said CEONeil Fiske, in a statement with the first-quarte r results filed with the SEC. Eddie Bauer has 370 including 251 retail stores and 119 outleg stores in the United Statesand Canada. Eddi e Bauer has 17 stores in Washington and 11 storesin Oregon. (See a copy of the bankruptcyy filing .
) But by filing for reorganization underr Chapter 11 of the federapbankruptcy code, Eddie Bauer hopes to avoidf the fate of Joe’s Sports & which filed for bankruptcy protecf March 4. The Wilsonville, Ore.-based company had hoped to find a ButIn April, a bankruptcy judgre approved the liquidation of the Joe’s storees after the company could not find a buyer. Joe’z had 31 Northwest stores 10 of themin Snohomish, King and Pierce counties that held going-out-of-business sales after the company’e assets were snapped up at bargain basement prices by , a liquidatofr that also sold off merchandis e for Circuit City.
had struggled with its debt — a crisise that worsened as revenue dropped, part of an overall tren affecting most retailers duringthe recession. The companyy has lost nearly a half billio n dollars in the pastthree years. Those losses, couplecd with the impact of the recession and debt paymentsz apparently pushed the company into bankruptcy court — a move that was rumored for months. Eddi Bauer became the latest major retaile r to succumb to filing in bankruptch courtthis recession. The list also includez Linens ‘n Things, Circuit City and Northwest retailer , whichj sold its assets to a liquidator in Aprill and closed31 stores.
In many Eddie Bauer’s crisis is not different from what most retailerxs are facing during this prolonged and deep saidGreg Charleston, an Atlanta-based consultangt for Conway MacKenzie who workse with financially stressed retailers looking to restructure. Most retailerds — except discount stores like Wal-Mart — have seen a fast drop-oft in retail revenue across the board, Charlestonb said. Many of the specialtyt retail department stores haveseen double-digit same-store sales declines, he said. “Whej revenue drops and same-store sales drop, companies with less debt can weathef a downturnmuch longer,” Charleston said.
“It becomes an issue much soonedr if you are into liquidity As ofMay 11, Eddie Bauer reported having $289.55 million in outstanding debt, including $187.8 million in term loans and $75 milliohn in convertible notes, which company executives have been tryint to persuade debt-holders to convert into shares of the According to a filing with the , Eddie Bauerr had total assets of $525.22 million in The company listed total liabilities of $448.9 Eddie Bauer reported net lossexs of $165.5 million in fiscal year part of a total of $478.7 million in losses during the past three fiscaol years. In the first quarter that endedin April, the compan y reported net losses of 44.5 million.
For the firsf quarter of fiscalyear 2009, whicb ended April 4, Eddie Bauer reported a loss of $44.5 That was a greater loss than the first quartee of 2008, when the company reported a $19.3 million loss. Net sales for the first quarte r of 2009were $179.8 million, comparec with net sales of $213.2 millioj in the first quarter of 2008. The compangy said that combined comparable store sales a barometer of succesxs at the store level fell 11.3 percent for the first a decline the company blamer on the recession and reducexd retail spending.
Sales were down nearly 15 percentr inEddie Bauer’s retail stores and salew through its direct channel were down nearly 11 The outlet stores saw sales decline by nearluy 76 percent. “The first quarter was a difficult one, as the sharlp downturn in the economy took its toll on our We continued to focus on cost cuttinvg and cash flow which helped mitigate the impact of lower said CEONeil Fiske, in a statement with the first-quarte r results filed with the SEC. Eddie Bauer has 370 including 251 retail stores and 119 outleg stores in the United Statesand Canada. Eddi e Bauer has 17 stores in Washington and 11 storesin Oregon. (See a copy of the bankruptcyy filing .
) But by filing for reorganization underr Chapter 11 of the federapbankruptcy code, Eddie Bauer hopes to avoidf the fate of Joe’s Sports & which filed for bankruptcy protecf March 4. The Wilsonville, Ore.-based company had hoped to find a ButIn April, a bankruptcy judgre approved the liquidation of the Joe’s storees after the company could not find a buyer. Joe’z had 31 Northwest stores 10 of themin Snohomish, King and Pierce counties that held going-out-of-business sales after the company’e assets were snapped up at bargain basement prices by , a liquidatofr that also sold off merchandis e for Circuit City.
Friday, November 16, 2012
Lockton taps turnaround specialist to open Boston office - Business First of Columbus:
lehoquvuhu.wordpress.com
Michael Toner is an expert on insurance issues facingb companies in the process of turnarounds and Kansas City-based Lockton said in a release Toner is a directore of the . Dean Davison, a spokesmann with Kansas City-based Lockton, said in an interviewa that Toneradds “to the skill set that we have: officers and other strategic assistance for corporations.” “It’s a timely thing given some of the issues in the marketplaces right now,” Davison said. Lockton’s clients are facinvg a wide rangeof challenges, Davison said, “many of them different than we’ve seen in the last decade or so.
” “The credit crunch and the economic slowdowh are putting stress on some of our he said. An example of how Lockton’s teamz have been called on in different ways Davison said, involves companies that are looking at self-insurancwe programs and facing stress about collateral they need to post, often in the form of letter s of credit, which cost more in this economic “It’s not as simple as buyinvg an insurance policy ... but you have to deal with stressex with how much to tie up in your insurance line of creditr and minimize it so you have other crediyt lines to manageyour business, maintaib cash flow and grow your busines s in other areas,” Davison said.
Locktonb is the world’s largest privately held insuranced broker. The company ranks No. 1 on the Kansas City Business Journal ’s list of area independent insurancer agencies basedon property-casualty premiun volume in the metropolitanm area and No. 2 based on health and benefitspremium volume. Locktojn has about 3,825 employees, including abouy 850 in the KansasCity area, Davisonj said.
Michael Toner is an expert on insurance issues facingb companies in the process of turnarounds and Kansas City-based Lockton said in a release Toner is a directore of the . Dean Davison, a spokesmann with Kansas City-based Lockton, said in an interviewa that Toneradds “to the skill set that we have: officers and other strategic assistance for corporations.” “It’s a timely thing given some of the issues in the marketplaces right now,” Davison said. Lockton’s clients are facinvg a wide rangeof challenges, Davison said, “many of them different than we’ve seen in the last decade or so.
” “The credit crunch and the economic slowdowh are putting stress on some of our he said. An example of how Lockton’s teamz have been called on in different ways Davison said, involves companies that are looking at self-insurancwe programs and facing stress about collateral they need to post, often in the form of letter s of credit, which cost more in this economic “It’s not as simple as buyinvg an insurance policy ... but you have to deal with stressex with how much to tie up in your insurance line of creditr and minimize it so you have other crediyt lines to manageyour business, maintaib cash flow and grow your busines s in other areas,” Davison said.
Locktonb is the world’s largest privately held insuranced broker. The company ranks No. 1 on the Kansas City Business Journal ’s list of area independent insurancer agencies basedon property-casualty premiun volume in the metropolitanm area and No. 2 based on health and benefitspremium volume. Locktojn has about 3,825 employees, including abouy 850 in the KansasCity area, Davisonj said.
Thursday, November 15, 2012
Survey: Hiring slowly improving - Memphis Business Journal:
cahijisebi.wordpress.com
Those two sectors employ more than 90 percent ofthe nation’se private-sector workers. The Alexandria-based association’s report is basede on a monthly survey of human resource professionalas at more than 500 manufacturing and 500 services Employment expectations for June aredown 37.1 percengt in manufacturing and down 8.2 percent in the servicee segment. In the manufacturing sector, 24.5 percengt plan to hire in which is the highest percentage of such companie that said they will add jobs sinceNovember 2008. In 25.9 percent said they will trim In theservices sector, a net totalk of 24.8 percent of corporations will creatw jobs in June, with 41.
4 percent saying they will hire and 16.6 percenr saying they will cut jobs. That 41.4 percent representsw the highest such tally since September 2008 in that A combination of unemployed peoplwe seeking work and less jobs to go around meansx recruiting difficulty in both sectors in May was way down comparedx with ayear ago. In the manufacturingb sector, a net of 23.8 percent of companiex had less difficulty with recruiting last and in theservice sector, a net of 35.8 percenyt of companies said the same.
Those two sectors employ more than 90 percent ofthe nation’se private-sector workers. The Alexandria-based association’s report is basede on a monthly survey of human resource professionalas at more than 500 manufacturing and 500 services Employment expectations for June aredown 37.1 percengt in manufacturing and down 8.2 percent in the servicee segment. In the manufacturing sector, 24.5 percengt plan to hire in which is the highest percentage of such companie that said they will add jobs sinceNovember 2008. In 25.9 percent said they will trim In theservices sector, a net totalk of 24.8 percent of corporations will creatw jobs in June, with 41.
4 percent saying they will hire and 16.6 percenr saying they will cut jobs. That 41.4 percent representsw the highest such tally since September 2008 in that A combination of unemployed peoplwe seeking work and less jobs to go around meansx recruiting difficulty in both sectors in May was way down comparedx with ayear ago. In the manufacturingb sector, a net of 23.8 percent of companiex had less difficulty with recruiting last and in theservice sector, a net of 35.8 percenyt of companies said the same.
Wednesday, November 14, 2012
Kroger takes on double duty - Minneapolis / St. Paul Business Journal:
xysecurakihir.blogspot.com
stores will open within weeks of each other late this The 125,000-square-foot Kroger Marketplace which will both featurde the same layout, will be located in Brazos Town Centedr in Rosenberg and at Watersid Marketplace in Richmond. The Richmond Krogef is slated to open in early while the Rosenberg store will openin “We view these as two separat e growth areas,” says Gary consumer affairs director of Kroger “We believe that these stores will servw two different markets and we’ll do well in both of thesr areas.” Huddleston says the Brazos Town Center store, located at U.S.
Highway 59 and FM 762 in will primarily servethe Richmond/Rosenberg while the Waterside Marketplace location, at Grandd Parkway and Mason Road in Richmond, will servd the Katy market. Both Kroger Marketplacer stores will feature a FredMeyeer Jewelers’ store as well as a largee home furnishing section with Ashley Furniture. The stored will also offer grocery anddeli products, a large floral gourmet and chef-prepared foods, a wine shop with a wine a drive-thru pharmacy and a Kitchenplace area with upscalwe kitchenware and place settings. Huddlestom says the format will be even largerthan Kroger’sa upscale Signature Store concept.
The placement of the super stores so closew together in outlying suburbsis unusual, especially since the Richmond/Rosenbergy area isn’t particularly known as a hotspot for retailers. In fact, the Starbucks location in Rosenberg at24406 U.S. Highway 59, was one of the firs to close early last year when the coffeer chain began shutteringunprofitable units. Barkley Peschel, vice presideng of development and operations for the Greater Fort Bend EconomicDevelopment Council, says even though Richmond and Rosenbergf are considered “sister cities,” the two Krogedr Marketplace locations will serve “vastly different” customers.
He believes the Rosenber g store will fill a void left in the locak grocery market whenKmartg Corp. pulled out of Texas and closed its storre at State Highway 36and U.S. 59 in 2003. “Peopl e in Rosenberg really don’t have a major grocer in a convenienr placeto shop, so I think they’ll do he says. Despite the closde proximity of the twogiant stores, Peschekl says, Kroger was very pickyg in its site selection process and only chosse areas that could support a store now and also show strongt potential for growth in the future. “I thinjk they’ve found that,” he says.
“There is a need for this type of shoppiny experience inthe LOCATION, LOCATION, LOCATION Steve vice president of investments for Jacksonville, Fla.-based Regency Centers, which owns Waterside says the center is 65 percent leased, with Krogef Marketplace serving as the anchor. He points out that the 147,857-square-foo center is located in the sixth-fastestr growing residential ZIP code in the Withina three-mile radius, there is a population of 33,21w2 people with an annual average household income of The center is also located at an intersectioj that will be one of the two controlled access pointsd on Grand Parkway connecting drivers from U.S. Highwayt 90 to the Westpark Tollroad.
The othef Kroger Marketplace location inthe 546-acre Brazoxs Town Center in Rosenberg will be in a similar According to research by Houston-based NewQuesf Properties, which owns Brazos Town the median household income in the trade area is in excess of $50,00p0 annually. Peschel says that despite the struggling nationapl andregional economies, Fort Bend County is continuingt to grow, having added approximatelyh 30,000 new residents last year.
He says the county is expected to reachj more than 1 million residents in the next15
stores will open within weeks of each other late this The 125,000-square-foot Kroger Marketplace which will both featurde the same layout, will be located in Brazos Town Centedr in Rosenberg and at Watersid Marketplace in Richmond. The Richmond Krogef is slated to open in early while the Rosenberg store will openin “We view these as two separat e growth areas,” says Gary consumer affairs director of Kroger “We believe that these stores will servw two different markets and we’ll do well in both of thesr areas.” Huddleston says the Brazos Town Center store, located at U.S.
Highway 59 and FM 762 in will primarily servethe Richmond/Rosenberg while the Waterside Marketplace location, at Grandd Parkway and Mason Road in Richmond, will servd the Katy market. Both Kroger Marketplacer stores will feature a FredMeyeer Jewelers’ store as well as a largee home furnishing section with Ashley Furniture. The stored will also offer grocery anddeli products, a large floral gourmet and chef-prepared foods, a wine shop with a wine a drive-thru pharmacy and a Kitchenplace area with upscalwe kitchenware and place settings. Huddlestom says the format will be even largerthan Kroger’sa upscale Signature Store concept.
The placement of the super stores so closew together in outlying suburbsis unusual, especially since the Richmond/Rosenbergy area isn’t particularly known as a hotspot for retailers. In fact, the Starbucks location in Rosenberg at24406 U.S. Highway 59, was one of the firs to close early last year when the coffeer chain began shutteringunprofitable units. Barkley Peschel, vice presideng of development and operations for the Greater Fort Bend EconomicDevelopment Council, says even though Richmond and Rosenbergf are considered “sister cities,” the two Krogedr Marketplace locations will serve “vastly different” customers.
He believes the Rosenber g store will fill a void left in the locak grocery market whenKmartg Corp. pulled out of Texas and closed its storre at State Highway 36and U.S. 59 in 2003. “Peopl e in Rosenberg really don’t have a major grocer in a convenienr placeto shop, so I think they’ll do he says. Despite the closde proximity of the twogiant stores, Peschekl says, Kroger was very pickyg in its site selection process and only chosse areas that could support a store now and also show strongt potential for growth in the future. “I thinjk they’ve found that,” he says.
“There is a need for this type of shoppiny experience inthe LOCATION, LOCATION, LOCATION Steve vice president of investments for Jacksonville, Fla.-based Regency Centers, which owns Waterside says the center is 65 percent leased, with Krogef Marketplace serving as the anchor. He points out that the 147,857-square-foo center is located in the sixth-fastestr growing residential ZIP code in the Withina three-mile radius, there is a population of 33,21w2 people with an annual average household income of The center is also located at an intersectioj that will be one of the two controlled access pointsd on Grand Parkway connecting drivers from U.S. Highwayt 90 to the Westpark Tollroad.
The othef Kroger Marketplace location inthe 546-acre Brazoxs Town Center in Rosenberg will be in a similar According to research by Houston-based NewQuesf Properties, which owns Brazos Town the median household income in the trade area is in excess of $50,00p0 annually. Peschel says that despite the struggling nationapl andregional economies, Fort Bend County is continuingt to grow, having added approximatelyh 30,000 new residents last year.
He says the county is expected to reachj more than 1 million residents in the next15
Monday, November 12, 2012
Free Chick-fil-A meal on July 10 - Washington Business Journal:
zuloraxelewo.blogspot.com
The giveaway is part of the Atlanta-baseed chain’s fifth-annual Cow Appreciation Day, which honors its "Eaf Mor Chikin" Cows. In a related promotion, parents can entere photos of their cow-clad children as part of a "Show Us the online photo contest, for a chance to win a $1,00 U.S. Savings Bond. Between now and Aug. 31, childrejn ages 10 and younger are encouraged to work with an adul to submit creative photos of themselvesw dressedas cows. The contest Web www.CowAppreciationDay.com, has details about uploading photos forthe contest. Once the pictures are the public can vote for their favorite photothrough Aug. 31.
The 20 photographs that get the most Interne votes will be named Fromthe semifinalists, Chick-fil-A will select five finalists and one grandf prize winner based on overall quality, originality, creativity and skill. The entrant's age will be taken into accountrfor judging, Chick-fil-A said. The grand prizwe winner will receivea U.S. Seriesz EE Savings Bond with a maturity valureof $1,000, a catered party for their free Chick-fil-A Kid's Meals for a year and a digitaol camera, among other gifts.
Also each Kid's Meal from June 22 to July 25 will includre miniatureCow figurines, while supplies One out of every 100 of the cows will have gold spotsd instead of the traditional black spots and will be packageed with a card redeemable for a free Ice cream.
The giveaway is part of the Atlanta-baseed chain’s fifth-annual Cow Appreciation Day, which honors its "Eaf Mor Chikin" Cows. In a related promotion, parents can entere photos of their cow-clad children as part of a "Show Us the online photo contest, for a chance to win a $1,00 U.S. Savings Bond. Between now and Aug. 31, childrejn ages 10 and younger are encouraged to work with an adul to submit creative photos of themselvesw dressedas cows. The contest Web www.CowAppreciationDay.com, has details about uploading photos forthe contest. Once the pictures are the public can vote for their favorite photothrough Aug. 31.
The 20 photographs that get the most Interne votes will be named Fromthe semifinalists, Chick-fil-A will select five finalists and one grandf prize winner based on overall quality, originality, creativity and skill. The entrant's age will be taken into accountrfor judging, Chick-fil-A said. The grand prizwe winner will receivea U.S. Seriesz EE Savings Bond with a maturity valureof $1,000, a catered party for their free Chick-fil-A Kid's Meals for a year and a digitaol camera, among other gifts.
Also each Kid's Meal from June 22 to July 25 will includre miniatureCow figurines, while supplies One out of every 100 of the cows will have gold spotsd instead of the traditional black spots and will be packageed with a card redeemable for a free Ice cream.
Sunday, November 11, 2012
Eddie Bauer owes NW creditors - San Antonio Business Journal:
showarticle-cultura.blogspot.com
Eddie Bauer in U.S. Bankruptcy Court in Delaware. The compang listed total assetsof $476.1 million and totapl debts of $426.7 millionm as of May 30. The retailer’s largesg unsecured creditor is the Bank ofNew York, whicjh according to court papers is owed $75 million. Eddier Bauer also owes $2.5 million to U.S. Customs. In addition to Eddie Bauer listed thred other companies with ties to the area among its 30 largesfunsecured creditors. , an Enumclaw company that designws and buildsdisplay fixtures, is owed and Seattle photography company Voda Studiosd in Seattle is owed $72,800. Eddie Bauer says it also owes the Seattle branchjof , $856,000.
RR Donnelley is baserd in Chicago andprovides printing, direct mail and othere services for retailers and other companies. The Bellevue-based retailer listede five major shareholdersthat — combined — own 27.6 perceny of the common They are: , an equity firm in Boston; , a privatew equity firm in San Francisco; H Partners Capitakl LLC, of New York and Royce Associates investment funds, of New York.
Eddie Bauer in U.S. Bankruptcy Court in Delaware. The compang listed total assetsof $476.1 million and totapl debts of $426.7 millionm as of May 30. The retailer’s largesg unsecured creditor is the Bank ofNew York, whicjh according to court papers is owed $75 million. Eddier Bauer also owes $2.5 million to U.S. Customs. In addition to Eddie Bauer listed thred other companies with ties to the area among its 30 largesfunsecured creditors. , an Enumclaw company that designws and buildsdisplay fixtures, is owed and Seattle photography company Voda Studiosd in Seattle is owed $72,800. Eddie Bauer says it also owes the Seattle branchjof , $856,000.
RR Donnelley is baserd in Chicago andprovides printing, direct mail and othere services for retailers and other companies. The Bellevue-based retailer listede five major shareholdersthat — combined — own 27.6 perceny of the common They are: , an equity firm in Boston; , a privatew equity firm in San Francisco; H Partners Capitakl LLC, of New York and Royce Associates investment funds, of New York.
Saturday, November 10, 2012
New UMBI research collaborative could attract more federal funds - Atlanta Business Chronicle:
uraa-quartely.blogspot.com
That collaboration is expected to land more research dollarwsfor , one of four researc h centers. The board of regents votef June 19 to breakup UMBI’s centerw and parcel them off to various USM The 25-year-old biotech research institutde was criticized for not landing enough research dollars or turnintg its research into commercially viable enterprises. Researcheres at the Center forMarines Biotechnology, UMB, the University of Baltimore County and the will join forces to creatr a new research center, as a result of the UMBI Staff at UMB’s stem cell research center, headed by laudee scientist Dr. Curt Civin, will be part of that USM ChancellorWilliam E. Kirwan said.
So, too, will researchers from the , headedr by renowned microbiologist Dr. Clair e Fraser-Liggett. This could lead, for instance, to stem cell researchb using zebra fish, and a bette r understanding of how genomics contribute to the sprea of oyster disease in theChesapeake Bay. The Centedr for Marine Biotechnology’s researchers are currentl y growingblue crab, bronzini, zebra fish and dorade in fish tanks that couls one day supply seafood companies, generatde medicines and biofuels.
The brainpower of both institutes is expecteds to help the Centetr for Marine Biotechnology winresearch money, said world-renowned researcher Yonathan Zohar, the center’s Fraser-Liggett’s institute, for has won more than $100 million in grants from the in two UMBI received about $31 million in federa l grants in the last two years. USM regentse hope the new UMBI structured will lead to a doublinbg in the amount of federapl grant moneyit receives, Kirwan said. Under the new structur for the Center forMarined Biotechnology, UMBC will be responsible for paying the rent and othedr administrative functions at the Columbuss Center.
But other detailsx of the collaboration are still beingworked out. Leaderzs at the Center for Marine Biotechnolog y and the three schools need to create a proposap to be submitted to Kirwanby Dec. 31. The new UMBI structurw goes into effectJuly 1, 2010.
That collaboration is expected to land more research dollarwsfor , one of four researc h centers. The board of regents votef June 19 to breakup UMBI’s centerw and parcel them off to various USM The 25-year-old biotech research institutde was criticized for not landing enough research dollars or turnintg its research into commercially viable enterprises. Researcheres at the Center forMarines Biotechnology, UMB, the University of Baltimore County and the will join forces to creatr a new research center, as a result of the UMBI Staff at UMB’s stem cell research center, headed by laudee scientist Dr. Curt Civin, will be part of that USM ChancellorWilliam E. Kirwan said.
So, too, will researchers from the , headedr by renowned microbiologist Dr. Clair e Fraser-Liggett. This could lead, for instance, to stem cell researchb using zebra fish, and a bette r understanding of how genomics contribute to the sprea of oyster disease in theChesapeake Bay. The Centedr for Marine Biotechnology’s researchers are currentl y growingblue crab, bronzini, zebra fish and dorade in fish tanks that couls one day supply seafood companies, generatde medicines and biofuels.
The brainpower of both institutes is expecteds to help the Centetr for Marine Biotechnology winresearch money, said world-renowned researcher Yonathan Zohar, the center’s Fraser-Liggett’s institute, for has won more than $100 million in grants from the in two UMBI received about $31 million in federa l grants in the last two years. USM regentse hope the new UMBI structured will lead to a doublinbg in the amount of federapl grant moneyit receives, Kirwan said. Under the new structur for the Center forMarined Biotechnology, UMBC will be responsible for paying the rent and othedr administrative functions at the Columbuss Center.
But other detailsx of the collaboration are still beingworked out. Leaderzs at the Center for Marine Biotechnolog y and the three schools need to create a proposap to be submitted to Kirwanby Dec. 31. The new UMBI structurw goes into effectJuly 1, 2010.
Thursday, November 8, 2012
Why Stafford's Perceived Mechanics Issues Are Overblown - Bleacher Report
hihozeima.blogspot.com
Bleacher Report | Why Stafford's Perceived Mechanics Issues Are Overblown Bleacher Report A common knee-jerk reaction to an underperforming quarterback is to criticize either his mechanics or his decision-making. Matthew Stafford, despite outpacing his passing output from last year, hasn't been particularly consistent this year, and he hasn ... |
Wednesday, November 7, 2012
Reid wastes no time lobbying Angus King - Politico (blog)
fixyruw.wordpress.com
Reid wastes no time lobbying Angus King Politico (blog) Shortly after independent Angus King was declared the winner in the Maine Senate race, Majority Leader Harry Reid was already on the phone with him, lobbying him to join the Democratic Caucus in the new Congress. One source said the call "went well." ... |
Monday, November 5, 2012
Sunday, November 4, 2012
GE Healthcare and Varian, Inc. Announce Pre-Clinical Magnetic Resonance Imaging (MRI) System
haygoodfoafyga1359.blogspot.com
May 12 /PRNewswire-FirstCall/ -- GE Healthcares (NYSE: GE) and Varian, Inc. (NasdaqGS: announce the availability ofthe MR901, a new pre-clinical 7T magnetifc resonance imaging (MRI) system which providese new capabilities for a broad range of research The Discovery MR901 combines GE Healthcare'ss state-of-the-art diagnostic technology with Varian's leading scientifixc platform to provide a pre-clinical MRI systen for the scientific community.
The pre-clinical technology aims to excek in soft tissue contrastand non-invasive techniques, includinv those used in research for metabolism, and physiology in research "Our offering provides a new level of depth and versatilityh to the scientific community," said , Vice Presidenyt and General Manager of Magnetic Resonance, GE Healthcare. "Thisd introduction provides the opportunity to strengthen our footprintf within clinical research while complementingv ourexisting portfolio." The range of preclinicap MRI applications includes brain and organ imaging, tumor disease progression and functional imaging.
Other potentialp research applications include investigation of new contrast mechanismand agents, monitoring gene expression, analysiws of protein interactions, and determinatio of pharmacokinetics. Varian and GE Healthcare announcef the Discovery MR901 at the International Societuy for Magnetic Resonance inMedicine (ISMRM) conference in Honolulu, The first unit is ready for shipment pendinyg completion of the customer "I am very pleased with how the syste integration has progressed. The first system is expected to ship this adding toour installed-base of leading MRI and NMR instrumentation, said , Vice President of Research Products at Varian.
For more technica information aboutVarian products, pleasre visit About Varian, Inc.: Inc. is a leading worldwide suppliedr of scientific instruments and vacuum technologiess for life science andindustrial applications. The compang provides complete solutions, including instruments, vacuum laboratory consumable supplies, software, training and support througg its global distribution andsupport systems. Inc. employs approximately 3,700 people worldwidse and operates manufacturing facilities inNortg America, Europe and Asia Varian, Inc. common stock is traded on the NASDAQa Global Select Market underthe symbol, "VARI." Furtherd information is available on the company's Web .
GE Healthcare provides transformational medical technologies and servicese that are shaping a new age ofpatieng care. Our expertise in medical imaging andinformationb technologies, medical diagnostics, patient monitoring systems, performancde improvement, drug discovery, and biopharmaceutical manufacturin g technologies is helping clinicians around the worlxd re-imagine new ways to diagnose, inform, treat and monitor disease, so patients can live theid lives to the fullest. GE Healthcare'x broad range of products and services enable healthcar e providers to better diagnose andtreat cancer, hear disease, neurological diseases and other conditionxs earlier.
Our vision for the future is to enable anew "early health" model of care focused on earlief diagnosis, pre- symptomatic disease detection and diseaser prevention. Headquartered in the United GE Healthcare isa $17 billion unit of General Electric Companh (NYSE: GE). Worldwide, GE Healthcar employs more than 46,000 people committed to servint healthcare professionals and their patients in more than100 countries. For more informatiob about GE Healthcare, visi our website at . For More Contact: Public Relations Varian, Inc. (925) 942-4702 pr@varianinc.com GE Healthcare, Wauwatosa Jennifer Francis (847) 277-4427 Jennifer.N.Francis@ge.com SOURCE Varian, Inc.
; GE Healthcars
May 12 /PRNewswire-FirstCall/ -- GE Healthcares (NYSE: GE) and Varian, Inc. (NasdaqGS: announce the availability ofthe MR901, a new pre-clinical 7T magnetifc resonance imaging (MRI) system which providese new capabilities for a broad range of research The Discovery MR901 combines GE Healthcare'ss state-of-the-art diagnostic technology with Varian's leading scientifixc platform to provide a pre-clinical MRI systen for the scientific community.
The pre-clinical technology aims to excek in soft tissue contrastand non-invasive techniques, includinv those used in research for metabolism, and physiology in research "Our offering provides a new level of depth and versatilityh to the scientific community," said , Vice Presidenyt and General Manager of Magnetic Resonance, GE Healthcare. "Thisd introduction provides the opportunity to strengthen our footprintf within clinical research while complementingv ourexisting portfolio." The range of preclinicap MRI applications includes brain and organ imaging, tumor disease progression and functional imaging.
Other potentialp research applications include investigation of new contrast mechanismand agents, monitoring gene expression, analysiws of protein interactions, and determinatio of pharmacokinetics. Varian and GE Healthcare announcef the Discovery MR901 at the International Societuy for Magnetic Resonance inMedicine (ISMRM) conference in Honolulu, The first unit is ready for shipment pendinyg completion of the customer "I am very pleased with how the syste integration has progressed. The first system is expected to ship this adding toour installed-base of leading MRI and NMR instrumentation, said , Vice President of Research Products at Varian.
For more technica information aboutVarian products, pleasre visit About Varian, Inc.: Inc. is a leading worldwide suppliedr of scientific instruments and vacuum technologiess for life science andindustrial applications. The compang provides complete solutions, including instruments, vacuum laboratory consumable supplies, software, training and support througg its global distribution andsupport systems. Inc. employs approximately 3,700 people worldwidse and operates manufacturing facilities inNortg America, Europe and Asia Varian, Inc. common stock is traded on the NASDAQa Global Select Market underthe symbol, "VARI." Furtherd information is available on the company's Web .
GE Healthcare provides transformational medical technologies and servicese that are shaping a new age ofpatieng care. Our expertise in medical imaging andinformationb technologies, medical diagnostics, patient monitoring systems, performancde improvement, drug discovery, and biopharmaceutical manufacturin g technologies is helping clinicians around the worlxd re-imagine new ways to diagnose, inform, treat and monitor disease, so patients can live theid lives to the fullest. GE Healthcare'x broad range of products and services enable healthcar e providers to better diagnose andtreat cancer, hear disease, neurological diseases and other conditionxs earlier.
Our vision for the future is to enable anew "early health" model of care focused on earlief diagnosis, pre- symptomatic disease detection and diseaser prevention. Headquartered in the United GE Healthcare isa $17 billion unit of General Electric Companh (NYSE: GE). Worldwide, GE Healthcar employs more than 46,000 people committed to servint healthcare professionals and their patients in more than100 countries. For more informatiob about GE Healthcare, visi our website at . For More Contact: Public Relations Varian, Inc. (925) 942-4702 pr@varianinc.com GE Healthcare, Wauwatosa Jennifer Francis (847) 277-4427 Jennifer.N.Francis@ge.com SOURCE Varian, Inc.
; GE Healthcars
Saturday, November 3, 2012
Crist signs bill to battle securities fraud - Atlanta Business Chronicle:
torbjorntrainer1738.blogspot.com
During a ceremonial bill signing Monday atthe Miami-Dad County Courthouse, Crist, with Attorne General Bill McCollum and some of the bill’sa sponsors at his side, signed the Investor Protectionb Act (HB 483). It gives McCollum’sz office, with approval from the , the authority to investigate andprosecutse large-scale securities scams undef the state’s securities law. white-collar criminal prosecutions fell under the racketeering which is harder to Prosecutions also were limitedr to the office ofthe state’s attorney, McCollumk pointed out.
Crist noted that this kind of authorit y was lacking during his tenure as attorney general and that this law wouldput “teeth” into the state’ prosecutorial powers. The law enhances the Officre ofFinancial Regulation’s enforcement powers by increasin g penalties for violators and strengthening the licensse registration requirements for securities dealers. Penalties double from $5,00o to $10,000 as a result of the law, whicbh goes into effect State authorities will also be able to pursuew civil lawsuits to recover lost McCollum said. McCollum workef with Rep. Tom Grady, R-Naples and Sen. Garretrt Richter, R-Naples on the legislation. Both attended the signing. Sen.
Dan D-Miami Beach, a bill sponsor, also attended Monday’ss ceremony. Grady is a securities attorney and expert in securities regulation who drafted the bill and sponsores it inthe House. “Noq the attorney general will have the tools to do the said Grady, prior to the signing. “Oufr economy will grow stronger if investors have confidence in ourfinancial markets,” he said in a “By increasing the toolx available to the state to prosecute violatorw of our securities laws, we protect investor s and foster needed trust in the system.
During a ceremonial bill signing Monday atthe Miami-Dad County Courthouse, Crist, with Attorne General Bill McCollum and some of the bill’sa sponsors at his side, signed the Investor Protectionb Act (HB 483). It gives McCollum’sz office, with approval from the , the authority to investigate andprosecutse large-scale securities scams undef the state’s securities law. white-collar criminal prosecutions fell under the racketeering which is harder to Prosecutions also were limitedr to the office ofthe state’s attorney, McCollumk pointed out.
Crist noted that this kind of authorit y was lacking during his tenure as attorney general and that this law wouldput “teeth” into the state’ prosecutorial powers. The law enhances the Officre ofFinancial Regulation’s enforcement powers by increasin g penalties for violators and strengthening the licensse registration requirements for securities dealers. Penalties double from $5,00o to $10,000 as a result of the law, whicbh goes into effect State authorities will also be able to pursuew civil lawsuits to recover lost McCollum said. McCollum workef with Rep. Tom Grady, R-Naples and Sen. Garretrt Richter, R-Naples on the legislation. Both attended the signing. Sen.
Dan D-Miami Beach, a bill sponsor, also attended Monday’ss ceremony. Grady is a securities attorney and expert in securities regulation who drafted the bill and sponsores it inthe House. “Noq the attorney general will have the tools to do the said Grady, prior to the signing. “Oufr economy will grow stronger if investors have confidence in ourfinancial markets,” he said in a “By increasing the toolx available to the state to prosecute violatorw of our securities laws, we protect investor s and foster needed trust in the system.
Thursday, November 1, 2012
Abercrombie shutting struggling Ruehl chain - Business First of Columbus:
hyperwave-exhausted.blogspot.com
The New Albany-based apparel merchant said Wednesday it willshut Ruehl’s 29 storesz and direct-to-consumer operations and will be “substantiallg complete” with the effort by the end of next January. The decision comes a month afterAbercrombir (NYSE:ANF) took a deep strategic look at the chain, whicyh targets young adults with clothes and accessories. whose only Ohio store is at Easton Town generated a pretax operating lossof $58 milliojn last year. The chain regularly was Abercrombie’s weakest salese performer at stores open at leasta Ruehl’s same-store sales were off 33 percent in May. Abercrombie earned $272.3 million on $3.5 billion in revenue last year.
“It has been a difficul t decision to close a brand we continue to believe could have been successfupl indifferent circumstances,” CEO Michael Jeffries said in a statement. given the current economic environment, we believe it is in the best interestws of the company to focuds its efforts and resources on the growth opportunities afforded by ourothe brands, particularly internationally.” The company didn’t disclose the effects on the chain’s work force, nor did it indicat e the number of jobs tied to Ruehl. The revieww of Ruehl, which opened in 2004, cost the company aboutt $51 million in impairment charges in itsfirsy quarter.
Abercrombie expects to book about $65 millionh in pretax charges through the rest of the fiscao year as it windsdown Ruehl. The company Wednesday also said it amended a credit agreement to excludsesome Ruehl-related charges from requirements under its covenant with the lendert and reduced its available credit to $350 millionb from $450 million. Jeffries said the company is confident is has sufficienty cash on handbut “we believd it is prudent to make these changes” in light of the recession-batteres retail environment and the one-time Ruehl In addition to the 29 Ruehl stores, Abercrombie runs 350 flagship stores and 733 otherx under the Abercrombie, Hollister Co.
and Gilly Hicke nameplates.
The New Albany-based apparel merchant said Wednesday it willshut Ruehl’s 29 storesz and direct-to-consumer operations and will be “substantiallg complete” with the effort by the end of next January. The decision comes a month afterAbercrombir (NYSE:ANF) took a deep strategic look at the chain, whicyh targets young adults with clothes and accessories. whose only Ohio store is at Easton Town generated a pretax operating lossof $58 milliojn last year. The chain regularly was Abercrombie’s weakest salese performer at stores open at leasta Ruehl’s same-store sales were off 33 percent in May. Abercrombie earned $272.3 million on $3.5 billion in revenue last year.
“It has been a difficul t decision to close a brand we continue to believe could have been successfupl indifferent circumstances,” CEO Michael Jeffries said in a statement. given the current economic environment, we believe it is in the best interestws of the company to focuds its efforts and resources on the growth opportunities afforded by ourothe brands, particularly internationally.” The company didn’t disclose the effects on the chain’s work force, nor did it indicat e the number of jobs tied to Ruehl. The revieww of Ruehl, which opened in 2004, cost the company aboutt $51 million in impairment charges in itsfirsy quarter.
Abercrombie expects to book about $65 millionh in pretax charges through the rest of the fiscao year as it windsdown Ruehl. The company Wednesday also said it amended a credit agreement to excludsesome Ruehl-related charges from requirements under its covenant with the lendert and reduced its available credit to $350 millionb from $450 million. Jeffries said the company is confident is has sufficienty cash on handbut “we believd it is prudent to make these changes” in light of the recession-batteres retail environment and the one-time Ruehl In addition to the 29 Ruehl stores, Abercrombie runs 350 flagship stores and 733 otherx under the Abercrombie, Hollister Co.
and Gilly Hicke nameplates.
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