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He made his move two days after Ralcorp reportedits fourth-quarterf profit tripled thanks primarily to its $2.6 billioh acquisition of the Post cereals business from That deal, whicbh closed in August, gave private label giant Ralcorpp control of the country’s third-largesft branded cereal company with a lineup that also includess Pebbles, Post Selects, Spoon Size Shreddedx Wheat, Grape-Nuts and Post Raisin The company reported Nov. 12 it made a profit of $41 milliohn in the fourth quarter, up 237 percengt from $12 million a year earlier. Quarterl sales jumped 44 percentto $874 up from $608 million a year ago. Nearly $181 million of that gain was a result ofthe acquisition.
Ralcorl also raised selling prices in a number of itsproducr categories, with a total impact of aboutr $76 million in the fourth quarter. 74, is widely known as a savvy investor. He has a knack for buying in and gettin out of the right companiews at theright time, dating back to his investment in Boatmen’s Bancshares shortly before it was acquireed by and subsequently . He made million running and by spinning off portionzs into new public companies such as and and selling other including what remained ofRalston Purina. Stiritz receivedr about $36.5 million in cash after bough , where Stiritz was chairman, president and chie executive. He got another $99.
65 million when Ralston was boughtby Nestlé in a $10.3 billion cash deal. In October 2007, , a privat investment group formed by sold off its last holding Cardinal — to for $130 million. Last year Stiritz also collecteed morethan $19 million on the sale of . Stiritaz retired as Energizer’s chairmajn emeritus this year but has remained at the headof Ralcorp’s boarc since it was spun off in 1994. Stiritz did not retur a call for and Ralcorp executives declined to talk aboutf hisstock sale.
Ralcorp completed 19 acquisitions thataddeds $1 billion in sales during the decade prio to the Post Along the way, the management team diversified Ralcorop into five product platforms, includingg store-brand cereals, cookies and crackers, dressings and jams, snack nuts, and frozen griddle products such as pancakes and Then on Nov. 15, Ralcorp Co-Chief Executives David Skarie and Kevin Huntannounced Ralcorp’a agreement to buy Post and jumped back into the branded cereal business. The deal is expectefd to increase Ralcorp’s revenue by 50 percent from aboutr $2.2 billion a year to $3.3 and Post cereals will account for about 32 percentf oftotal sales.
Ralcorp had experiencs with branded cereal dating back to the old HotRalstoh brand, but it got out of the businesa when it sold its Chex brand cereals 10 years ago. Now it is relearning how to handlr brand names that make up a much larger piece of its businesw thanever before. To tackle the Ralcorp appointed StephenVan Tassel, formerly Kraft’s vice presidenrt of marketing for Post Cereal in North America, as a Ralcor p corporate vice president and president of the Post Foods businessd in October. All of Ralcorp’s moves have paid off. Everyg company Ralcorp has purchased has improved its and investors havetaken notice.
Over the past five the value of Ralcorp stock has more than doublesd fromabout $30 a share to a Nov. 18 closin price of $67.98 a share. Ralcorp’s moves have paid off for Stiritz too. Filings with the show that followintg hisstock sale, he continues to hold another 568,5878 Ralcorp shares worth more than $35
Saturday, April 30, 2011
Wednesday, April 27, 2011
Dick Wolfe Joins MWW Group's Public Affairs Practice as Senior Vice President - PR Newswire (press release)
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Dick Wolfe Joins MWW Group's Public Affairs Practice as Senior Vice President PR Newswire (press release) EAST RUTHERFORD, NJ, April 27, 2011 /PRNewswire/ -- MWW Group (www.mww.com), one of the five largest independent public relations firms worldwide, announced today that Dick Wolfe has joined the firm as senior vice president, public affairs and will be ... MWW hires Wolfe as SVP, public affairs |
Monday, April 25, 2011
Reduce Oil, Bacteria Contamination with Minerals Mate® Makeup Application ... - Benzinga
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Reduce Oil, Bacteria Contamination with Minerals Mate® Makeup Application ... Benzinga Addressing this problem is Minerals Mate®, a new mixing and application palette for use with mineral makeup and other loose powders. It provides a secondary surface for working with foundations, blushes and other makeup treatments so users don't dip ... |
Saturday, April 23, 2011
USAA plans first-ever off-campus retail financial centers in San Antonio - San Antonio Business Journal:
uhalugupuzyma.blogspot.com
The new centers, slated to open durinvg the fourth quarter, are a pilot project being launched locally to providew USAA members and potential members a new venus of service andmore convenience. Theses centers mark the first time that USAA will provider service locations away from itscorporate headquarters, with the goal of attractinb more business. F. David Bohne, president of , says the new centers will not replace any of the services the companyalread provides. Rather, they will provide the personalized, face-to-face service that members want for some productdsand services.
“I think our biggest thing at USAA has alwaysz been aboutthe members’ choice and meeting our needs,” Bohne says. The average size of the financiao centers willbe 2,700 square feet. They will include Interneyt workstations, deposit ATMs, on-site wealth managers, videophone booths with documentf exchange capabilities and space for smal group seminarsand webinars. The videophone booths are designed to provid e memberswith real-time, face-to-face acceses to a USAA representative. Bohne says USAA is usinv technology as a way to keep operatingcostsa down, while at the same time offering its members an additionao service option.
Brad Wells, a vice president of eBusiness for USAA, says the company is excited about the new which it hopes will make memberz feel more at ease and do more businessa with USAA. “... Member satisfactioj goes up when you seethe person,” Wells adding that the new locations and the technology incorporatex in them allow USAA to leverage a low-cosyt way of doing business while giving memberds the personalization that they’rew desiring. “We know there’s demand for Apart from the videophones, the internegt workstations will give members accesz to servicesvia USAA’d Web site (usaa.com) as well as alloew them to make check deposits.
The depositf ATMs will be available for cash or check deposits andcash withdrawals; wealth management services will be providede members by appointment. Bohne stressee that the new retail locations will not be traditionabank branches. Rather, members will be able to use the locationz to take care of their wealth planning and other financialpservices needs. Though the branches are slated to open onthe city’ss far Northeast and Northwest Sides, no exact sitesd have yet been selected. Bohnw says it’s been a challenge for the companu to find property in the parts of town where USAA wantethe branches.
“One of the things we’ve seen is that our competitorz have done a lot of homeworkand they’vse been doing branches for a long time. We haven’r been. So, they have tied up a lot of the good real he says. “We’re putting up two and we want to make surethat we’r getting a good return on the two locationx that we choose. So, we are taking our time and beingt a little choosy on whatwe get.” Bohn says USAA picked San Antonio as the testing site for the launcj of the new locations because the Alamk City is its home base.
The ultimate goal, Bohne adds, will be to eventuallty open retail financial locations in strategi c spots across the countruy in areas that have high concentrationse of military personnel as well as good Membership feedback, he adds, will dictate where USAA puts these new
The new centers, slated to open durinvg the fourth quarter, are a pilot project being launched locally to providew USAA members and potential members a new venus of service andmore convenience. Theses centers mark the first time that USAA will provider service locations away from itscorporate headquarters, with the goal of attractinb more business. F. David Bohne, president of , says the new centers will not replace any of the services the companyalread provides. Rather, they will provide the personalized, face-to-face service that members want for some productdsand services.
“I think our biggest thing at USAA has alwaysz been aboutthe members’ choice and meeting our needs,” Bohne says. The average size of the financiao centers willbe 2,700 square feet. They will include Interneyt workstations, deposit ATMs, on-site wealth managers, videophone booths with documentf exchange capabilities and space for smal group seminarsand webinars. The videophone booths are designed to provid e memberswith real-time, face-to-face acceses to a USAA representative. Bohne says USAA is usinv technology as a way to keep operatingcostsa down, while at the same time offering its members an additionao service option.
Brad Wells, a vice president of eBusiness for USAA, says the company is excited about the new which it hopes will make memberz feel more at ease and do more businessa with USAA. “... Member satisfactioj goes up when you seethe person,” Wells adding that the new locations and the technology incorporatex in them allow USAA to leverage a low-cosyt way of doing business while giving memberds the personalization that they’rew desiring. “We know there’s demand for Apart from the videophones, the internegt workstations will give members accesz to servicesvia USAA’d Web site (usaa.com) as well as alloew them to make check deposits.
The depositf ATMs will be available for cash or check deposits andcash withdrawals; wealth management services will be providede members by appointment. Bohne stressee that the new retail locations will not be traditionabank branches. Rather, members will be able to use the locationz to take care of their wealth planning and other financialpservices needs. Though the branches are slated to open onthe city’ss far Northeast and Northwest Sides, no exact sitesd have yet been selected. Bohnw says it’s been a challenge for the companu to find property in the parts of town where USAA wantethe branches.
“One of the things we’ve seen is that our competitorz have done a lot of homeworkand they’vse been doing branches for a long time. We haven’r been. So, they have tied up a lot of the good real he says. “We’re putting up two and we want to make surethat we’r getting a good return on the two locationx that we choose. So, we are taking our time and beingt a little choosy on whatwe get.” Bohn says USAA picked San Antonio as the testing site for the launcj of the new locations because the Alamk City is its home base.
The ultimate goal, Bohne adds, will be to eventuallty open retail financial locations in strategi c spots across the countruy in areas that have high concentrationse of military personnel as well as good Membership feedback, he adds, will dictate where USAA puts these new
Wednesday, April 20, 2011
Albany approves new 10-year TU Center contract - The Business Review (Albany):
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The county legislature unanimously approved a plan for a new contract onMay 11. Philadelphia-based will now manag e the entertainment and sports arenathrough 2020. SMG has been operatingg the arena since it opened in January 1990 asKnickerbockee Arena. “They’re the best in the business. We’v been very pleased,” said Williak Conboy, counsel for the county legislature’zs Democratic majority. The currentr contract expires inDecember 2010. The new contractt will enable the county to keep more profitd fromthe arena. The which owns the will now receive thefirst $500,000 of annua profits at the arena. That’s up 25 percent from the previous contract.
The next share of profitz goesto SMG, at a base fee of $200,000, down 20 percentf from the previous contract. After that base fee is any remaining profits willbe divided—70 percent will go to the and 30 percent will go to SMG. SMG will not be allowedd to make morethan $400,000, including the base fee, from operatinyg the Times Union Center in any year. Once the company reaches that total, Albany County will receive any profitdthat haven’t been allocated. All amounts will be indexer to inflation. Over the past five years, the Time s Union Center has had an average annual operatinfg profitof $1.05 million.
The facility has 17,500 “They’ve been doing very well for the last eight to 10 years with profits. It’s a great Conboy said. SMG is an affiliate of (Nasdaq: SMG operates 212 arenas, theateras and convention centers aroundthe world.
The county legislature unanimously approved a plan for a new contract onMay 11. Philadelphia-based will now manag e the entertainment and sports arenathrough 2020. SMG has been operatingg the arena since it opened in January 1990 asKnickerbockee Arena. “They’re the best in the business. We’v been very pleased,” said Williak Conboy, counsel for the county legislature’zs Democratic majority. The currentr contract expires inDecember 2010. The new contractt will enable the county to keep more profitd fromthe arena. The which owns the will now receive thefirst $500,000 of annua profits at the arena. That’s up 25 percent from the previous contract.
The next share of profitz goesto SMG, at a base fee of $200,000, down 20 percentf from the previous contract. After that base fee is any remaining profits willbe divided—70 percent will go to the and 30 percent will go to SMG. SMG will not be allowedd to make morethan $400,000, including the base fee, from operatinyg the Times Union Center in any year. Once the company reaches that total, Albany County will receive any profitdthat haven’t been allocated. All amounts will be indexer to inflation. Over the past five years, the Time s Union Center has had an average annual operatinfg profitof $1.05 million.
The facility has 17,500 “They’ve been doing very well for the last eight to 10 years with profits. It’s a great Conboy said. SMG is an affiliate of (Nasdaq: SMG operates 212 arenas, theateras and convention centers aroundthe world.
Monday, April 18, 2011
UCSC gets commitments from more than 3,500 new students - Charlotte Business Journal:
callahamirykaan1884.blogspot.com
As of June 16, 3,523 studentes had committed to becoming part ofthe university's Class of 2013. Thoser numbers could change by the time classes begin inthe fall. But the numbed of freshman committing to attenxd UCSC in the fall isabout 1,00o0 fewer than last year. Campus officials said in press releas last year they had received commitmentxsfrom 4,573 incoming memberz of the class of 2012. Public-supported colleges and universitiexs throughout the state are attempting to cope with majore budget cuts forthe 2009-10 academic on top big reductionds that have already been made the past two "We are very excited to welcomse the Class of 2013 to the University of California, Santq Cruz, and we're very gratified by the strongb interest they have shown in our Chancellor George Blumenthal said in a statement.
"The academic qualituy and diversity of this class isespecially impressive." Michelle Whittingham, UCSC's associate vice chancellor of enrollment said the scenic campus buil into a hillside redwood forest is more populatr than ever. Undergraduate applications to the university have totaled morethan 32,000 the past two with this year's numbefr reaching almost 33,000. That's a 12.7 percent increasw the 29,140 undergraduate applications UCSC received forfall 2007. The average grades point average of incoming freshmanis 3.60, up from 3.52 in last year'd freshman class, with the average SAT test scorw of 1718 representing a 20-point increase over the clasws of 2012.
Students of color compose more than 25 percengt ofincoming freshman, up from nearl 24 percent last year. About 23 percentt of that group areof Asian-American descent, according to university officials.
As of June 16, 3,523 studentes had committed to becoming part ofthe university's Class of 2013. Thoser numbers could change by the time classes begin inthe fall. But the numbed of freshman committing to attenxd UCSC in the fall isabout 1,00o0 fewer than last year. Campus officials said in press releas last year they had received commitmentxsfrom 4,573 incoming memberz of the class of 2012. Public-supported colleges and universitiexs throughout the state are attempting to cope with majore budget cuts forthe 2009-10 academic on top big reductionds that have already been made the past two "We are very excited to welcomse the Class of 2013 to the University of California, Santq Cruz, and we're very gratified by the strongb interest they have shown in our Chancellor George Blumenthal said in a statement.
"The academic qualituy and diversity of this class isespecially impressive." Michelle Whittingham, UCSC's associate vice chancellor of enrollment said the scenic campus buil into a hillside redwood forest is more populatr than ever. Undergraduate applications to the university have totaled morethan 32,000 the past two with this year's numbefr reaching almost 33,000. That's a 12.7 percent increasw the 29,140 undergraduate applications UCSC received forfall 2007. The average grades point average of incoming freshmanis 3.60, up from 3.52 in last year'd freshman class, with the average SAT test scorw of 1718 representing a 20-point increase over the clasws of 2012.
Students of color compose more than 25 percengt ofincoming freshman, up from nearl 24 percent last year. About 23 percentt of that group areof Asian-American descent, according to university officials.
Saturday, April 16, 2011
Report: California to shed 1M jobs during recession - Minneapolis / St. Paul Business Journal:
qypytcuvy.blogspot.com
The pace of private-sector job lossese will slow over the nextfew months, but statde and local government layoffs are beginning, the Business Forecastinyg Center at the said in its latest Californiaq and Metro Forecast released Wednesday. The forecast said California’s unemployment will peak at 12.3 percent earlgy next year, and will remainn in double-digits until the end of 2011. The centef produces quarterly economic forecasts of theUnitesd States, California and nine metro areas, from Sacramento to Fresnko and the San Francisco Bay Area. In the Sacramento unemployment will risefrom 11.1 percenf this year to peak at 11.4 percent next before dipping to 10.
2 percent in the report said. Unemployment is expected to reacy 9.2 percent in 2012. The Sacramento area is forecastg to rebound in the third quarter of next when job growth will improvesto 0.8 percent. A “stron g rebound is expected to take place in professionaloand business, and educational and health servicesw sectors,” the report said of Sacramento. “Job growth is expecteed to have its firsg positive full yearat 2.0 percent in Sacramento’s real personal income, meanwhile, will grow at a slow rate of 1.5 percenty next year.
San Jose and San Francisco will be the first metro areas in Northern Californiaq to return totheir pre-recessiojn employment levels, in the second and third quartere of 2012, respectively, the study said. Sacramento and Mercec will be among the last north states metro areas to regaihpeak employment, in fourth-quarter 2013. Vallejo is last, with a returnn expected in the second quarterof 2014. The Central Valleg will be hard hit by the combination of receng state tax increases and massive expectedbudgegt cuts, the Business Forecasting Center “The state budget crisis is a dangerous aftershock to a region still reeling from the foreclosure earthquake,” Jeff director of the Business Forecastinv Center, said in a news release.
The Centrao Valley is an economicdisastetr area, but most of its “economic shocks are cyclicaol in nature rather than permanent changezs such as closed military bases,” the news releass said. • Construction continues to lead job losses inpercentaged terms, declining another 15 percent to 110,000 in 2009. Manufacturing will lead the declinein 2009, losingy 135,000 jobs this • Retail sales will not return to their 2007 levek until 2011. • New car and truc k sales will fallbelow 1.06 milliob in 2009, after exceeding 2 million for most of the Sales will gradually increase as the economty recovers, reaching 1.46 million next and 1.73 million in 2011.
• Housinh starts hit bottom in 2009at 36,000 more than 80 percent beloa the levels seen in 2004 and 2005. Housinbg starts will be back to 100,000 units in and exceed 150,000 by 2013. • Health care is the only sectorr that will not shrink this The gainof 13,000 health care jobs, or 0.9 is the slowest growth this decade. • Personakl income declines 0.8 percent in 2009. Nonfarm payrolls will declineby 1,020,000 jobs statewidre during the two-year recession. The California economy will finally hit bottomn in the fourth quarter of this and will begina slow, multi-year recovery.
It will be 2013 beforwe many key economic indicatorws such as unemployment return tohealthyg levels. • The state’s recession should end in the last quarterd ofthis year, but the job marketf will remain weak throughj most of next year.
The pace of private-sector job lossese will slow over the nextfew months, but statde and local government layoffs are beginning, the Business Forecastinyg Center at the said in its latest Californiaq and Metro Forecast released Wednesday. The forecast said California’s unemployment will peak at 12.3 percent earlgy next year, and will remainn in double-digits until the end of 2011. The centef produces quarterly economic forecasts of theUnitesd States, California and nine metro areas, from Sacramento to Fresnko and the San Francisco Bay Area. In the Sacramento unemployment will risefrom 11.1 percenf this year to peak at 11.4 percent next before dipping to 10.
2 percent in the report said. Unemployment is expected to reacy 9.2 percent in 2012. The Sacramento area is forecastg to rebound in the third quarter of next when job growth will improvesto 0.8 percent. A “stron g rebound is expected to take place in professionaloand business, and educational and health servicesw sectors,” the report said of Sacramento. “Job growth is expecteed to have its firsg positive full yearat 2.0 percent in Sacramento’s real personal income, meanwhile, will grow at a slow rate of 1.5 percenty next year.
San Jose and San Francisco will be the first metro areas in Northern Californiaq to return totheir pre-recessiojn employment levels, in the second and third quartere of 2012, respectively, the study said. Sacramento and Mercec will be among the last north states metro areas to regaihpeak employment, in fourth-quarter 2013. Vallejo is last, with a returnn expected in the second quarterof 2014. The Central Valleg will be hard hit by the combination of receng state tax increases and massive expectedbudgegt cuts, the Business Forecasting Center “The state budget crisis is a dangerous aftershock to a region still reeling from the foreclosure earthquake,” Jeff director of the Business Forecastinv Center, said in a news release.
The Centrao Valley is an economicdisastetr area, but most of its “economic shocks are cyclicaol in nature rather than permanent changezs such as closed military bases,” the news releass said. • Construction continues to lead job losses inpercentaged terms, declining another 15 percent to 110,000 in 2009. Manufacturing will lead the declinein 2009, losingy 135,000 jobs this • Retail sales will not return to their 2007 levek until 2011. • New car and truc k sales will fallbelow 1.06 milliob in 2009, after exceeding 2 million for most of the Sales will gradually increase as the economty recovers, reaching 1.46 million next and 1.73 million in 2011.
• Housinh starts hit bottom in 2009at 36,000 more than 80 percent beloa the levels seen in 2004 and 2005. Housinbg starts will be back to 100,000 units in and exceed 150,000 by 2013. • Health care is the only sectorr that will not shrink this The gainof 13,000 health care jobs, or 0.9 is the slowest growth this decade. • Personakl income declines 0.8 percent in 2009. Nonfarm payrolls will declineby 1,020,000 jobs statewidre during the two-year recession. The California economy will finally hit bottomn in the fourth quarter of this and will begina slow, multi-year recovery.
It will be 2013 beforwe many key economic indicatorws such as unemployment return tohealthyg levels. • The state’s recession should end in the last quarterd ofthis year, but the job marketf will remain weak throughj most of next year.
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