quinta-feira, 28 de abril de 2011

Rediff Breaks Out Violently to the Upside - Wall Street Pit

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Rediff Breaks Out Violently to the Upside

Wall Street Pit


By Ron Haruni Apr 26, 2011, 2:18 PM Author's Website Internet content player Rediff.com (REDF) has broken out violently to the upside during Tuesday's trading session. The shares spiked 22 percent to a 52wkh of $14.72 after the company introduced a new ...



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terça-feira, 26 de abril de 2011

Opus West says it owes $1.46 billion - Washington Business Journal:

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and some of its subsidiaries filed voluntary petitions late Monday for reorganizatiomn underChapter 11. Chapter 11 generally removes the threat of lawsuit from creditors while a businesa seeks to rehabilitate itself andcontinue operations. Opus West and its affiliatew reportedabout $1.28 billion in totakl assets and $1.46 billion in total liabilities, according to bankruptch court filings. The corporation and its affiliatesw had combined revenue ofabougt $405 million in 2008. The parent companty lists 200 to999 creditors, according to bankruptcuy filings. Opus West owns about 20 real estatee development properties either directly or througg entities set up to hold the the courtfilings say.
The total debt on thosw properties isabout $414 million and the value of the propertiezs is about $403 million. In additiomn to Opus West Corp., the subsidiariesx that have filed Chapter 11 petitiones are Opus WestConstruction Corp., Opus West LP, Opus West Partnerse Inc. and O.W. Commercial Inc. Opus West has guaranteed about $1.15 billion in loans for its subsidiariex andjoint ventures, and most of those loanzs are in default, the court filings say. Steep declines in commercialo real estate values and difficult credity market conditions necessitatedthe filing, said John Greer, chief restructuringh officer of Opus West.
Greerd said Opus West will keepa "modestf presence" in Phoenix, Texas and Californias to work on asset dispositions and transitions. "While we began slowing the pace of new developmentr nearly two years ago in anticipation of difficultmarketf conditions, we must now take additional measureas to enable an orderly wind-down of our portfolio, protecr asset values and maximize returj on lenders' investment," Greee said in a prepared statement.
Opus West and its subsidiaried have suffered declining financiakl performancesince 2008, resulting in defaultw on certain credit lines and constrained according to an affidavit filede by Greer, managing member of New York-based Phoenixd Capital Partners, which is the chief restructuring officer of Opus West Greer is also president of the Opus West Construction, Opus West Partner and O.W. Commercial subsidiaries. Opus has focused on recapitalizing through project salesand refinancing, but has been unabler to do so because of poor markegt conditions, Greer's affidavit says.
Since 1979, Opus West and its affiliatesx have developed more than 52 millioj square feetof office, retail, multifamily, government and institutional projects, the affidavit The company's assets include interests in commercial and residentiaol real estate projects across Arizona and Texas, including condominium, industrial, apartment and retail projects in various stage of development, the affidavit says. Addison-based Opus West LP, formeed to develop real estatee propertiesin Texas, owns seven properties that consisg of either vacant land, or a project under constructiom or completed projects.
The total debt on thosd properties isabout $105 million and their valuer is about $134 million, Greer's filing states. Opus has been dramatically scaling back its North Texas operations for more than a Opus spokeswoman Winston Hewett told the that the Addisonj office has not started a new development in more than a year and has cut its staffg in Dallas to 12 employees from abour 40 ayear ago.
Opus West's overalol headcount had dropped to 40 as ofJuly 1, comparedf to 291 two years ago, Hewett Since April, dozens of subcontractors have filer liens totaling more than $4 million against Opus West and Opus West Construction tied to Two Addisoh Circle, a $23 million, 198,000-square-foot speculative offic building in Addison. The building was developeed and is owned by OpusWest Corp. The lienas claim Opus owes the subcontractors for labor or materiale provided in the courseof construction.
The six-story Two Addisoj building on the west side of the Dallas Nortuh Tollway just north of Arapaho Road wasrecently completed, but has no The credit crunch and slowing deman for office space left Opus unable to get permanent financin to replace the short-term construction loan on the Addisonh project, Hewett said. Other Opus West Corp. projectws in North Texas include 121 Lakepointe an office and industrial developmentgin Lewisville; and Broadstone Parkway, a 5.8-acred mixed-use project at 5005 Galleri Drive in North Dallas. Dallas area creditors includde RL Murphey CommercialRoof Systems, owed $1.24 Green Fire Systems of Texas, owed and Ennis Steel Industries Inc.
, owed $519,402; and Tas Commercia l Concrete Construction, owed $500,704, according to court Opus' troubles stem from the globall economic downturn, deterioration of the real estate market and the credif crunch, which has made it difficulyt for borrowers to get financiny to fund real estate projects or refinance existing Greer's affidavit states. The turmoil has scares buyers, leading to excess supply and lowert prices. The dramatic downturn has causer Opus to be out of compliance with termxs of various loans and unable torestructure them, and attempts to raise capital and sell assetw have proven difficult, bringing about the Chapter 11 filing, Greer'sz affidavit says.
Opus' challenges vary considerably by saidMark Rauenhorst, chairman and CEO of Opus "Opus West faced particularlyg dramatic drops in real estate values in markets such as Californis and Arizona, and has been particularlyh challenged by the sharp downturn in the capitaol markets and availability of refinancing," he said. Rauenhors t said that two other independent operatint companies of OpusGroup -- and Opus Northwest LLC -- have been less affectede by the economic and capital market conditions because of theit mix of project types and theirt location in stronger markets. , which is based in Minn.
, is a design-build developmenyt firm that specializesin office, retail, multifamily, government and institutional It also controls Washington-basef LLC, which filed for Chapter 7 liquidation in late June. Opus Group said its subsidiary, whicjh is based in filed for reorganization in bankruptcy court onAprip 22.

domingo, 24 de abril de 2011

Payless Car Rental joins Expedia program - Tampa Bay Business Journal:

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Participation in the program willgive Expedia’a more than 23 million monthly unique online visitors accessz to Payless’ fleet of vehicle s available at more than 80 locations around the “In addition to building the Payless branrd as a quality alternative to higher-priced rentak companies, this partnership helps Payless reacjh millions more consumers,” Rick Stevens, president of Payless, said in the Payless Car Rental, which provides discountr car rental services for leisure and government travel customers, is privately held by , headquarterex in St. Petersburg. Expedia (NASDAQ: EXPE), headquarteresd in Bellevue, Wash., operates as an online travel company inthe U.S.
and

quinta-feira, 21 de abril de 2011

Solar Array, Gen. Mills detail expansions - Philadelphia Business Journal:

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broke ground April 5 on the $100 million, 176,000-square-foot expansion of its manufacturingbfacility here, Keith Bone, general manager of the local facility, told members of . AED held its quarterlu meeting Thursdayat . Joe Hudgins, president and CEO of Solar Arrat Ventures, outlined his company’sw plan to build a massiver solar manufacturing plant onthe city’s Westside. General expansion should be completedby November, Bone The cereal manufacturer will hire 60 additiona employees, bringing additional payroll to the area of $3.5 million. The expansiobn also brings $30 million in spendin g to New Mexico.
The Albuquerque City Council approveda $100 million industriapl revenue bond deal for the company in February. BE&K Corp. from North Carolina landesd the design/build contract to build the but Bone said 80 percent ofthe firm’s spending and employeeds will be local. The precast panelsw being used in the construction are manufacturedin Belen. General Milla has been in Albuquerquesince 1991. Its current facility is located near Paseok del Norte and Edith and has 190 with an annual payrolof $12 million, said Bone. The 275,000-square-fooft plant produces about 135 millionm pounds annually of 35different cereals.
The facilityt also has a lab on-site wherd the instructions for baking Generakl Mills products at high altitudesaare created. The company has given about $5 millionj to area nonprofits since 1998and $519,000 in Bone added. Don Power, chairman of AED, said the cerealp company’s donations illustrate one of the thingzs the organization looks for inrecruiting companies: communith involvement. Hudgins said Solar Array plans to breakj ground by the third quarte r of this year ona 225,000-square-foot thin-film photovoltaic manufacturing plant in the Corderoi Mesa business park, west of the mattres factory.
The company plans to add threse more buildings of that size as it he said, with each facility employiny about 225. Its annual payroll in the firsyt phase wouldbe $14 About five percent of the jobs woulds pay $100,000, 45 percent woulxd pay $70,000 and half of the jobs wouldc pay $45,000. The capital investment for the first phaswe willbe $170 million and the company woulsd spend $40 million annuallt for raw materials. The firsft phase is expected to have a capacity of 75 but that would grow to 300 mw with the full The plant also will have a spacw that will serve as a community andeducationao center. Solar Array is seeking $175 milliojn in industrial revenue bondd fromBernalillo County.
The company is working to raisee $210 million in debt and equity, Hudgins Hudgins said New Mexico beat out two otheer states for the despite the fact that it did not offerr thelargest incentives. But the coordination amongy local and state government officials and othere parties made New Mexico far more efficieng in establishing a planning framework that the company couled then use to plan a budget for the hesaid “That was a major issud for us,” Hudgins said. He also praised the laboer force here and the educational The facility is beingb designed byPageSoutherlandPage LLP, which has Texas offices in Dallas and Houston, as well as Denver, Washington, D.C. and U.K.
Hoffman Construction, based in Ore., is building the facility.

terça-feira, 19 de abril de 2011

Hung-over surgeons make more mistakes - AccessRx Health Blog (blog)

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Daily Mail


Hung-over surgeons make more mistakes

AccessRx Health Blog (blog)


A recent study has shown that surgeons are more likely to make mistakes during a surgery if they are hung-over, even if there is no detectable alcohol in their system. Adding to the concern is the fact that alcohol consumption is very common among ...


Hung-over surgeons more error-prone

Reuters



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domingo, 17 de abril de 2011

Genmar Holdings revisits boat partnership with Sam's Club - Minneapolis / St. Paul Business Journal:

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Sam's Club, which is ownecd by Bentonville, Ark.-based , is the latesgt non-traditional sales outlet that Genmar has begun as a way to lure new customers in a slow market for motor Selling boats in parking lots isnothing new, but it has neverr been this organized, Genmar CEO Irwin Jacobes said. In 1995, Genmad started a program to sell boats in Sam's Club parking lots. The program lasted only two years because of hassles with municipal zoning and inconsistent boat inventoriesand pricing. "Wre weren't organized enough, for them or for Jacobs admitted. Jacobs has had a long relationship with includinga co-branded professional bass fishing tournament circuit.
A partnership also exists betweemn Wal-Mart and another Irwin Jacobs-owned Jacobs Trading Co., Plymouth, which resells merchandise that has been returnedcto Wal-Mart stores. Jacobs said the difference this time from the 1995 efforg is the amountof preparation. For Genmar has created an entire department to plan and executed parkinglot sales. Also, this time boats will be sold onlyto Sam's Club member s and only with no-haggle pricing. Which models of boats are sold on the lots will still depend on thelocal dealer, but the options are greatly expandecd because of the addition of a new joint Web site, . A spokeswomajn for Wal-Mart did not return calls seeking comment.
A parkinb lot sale is "a non-threatening environment," said George Sullivan, senioe vice president of marketingat Genmar. And unlike a traditional boat show that can cost a familyt offour $100 to it is free to browse at Sam'w Club lot sales. Genmar also has started marketinh its boats in General Motoreautomobile dealerships. This month, it hostedx its first "Genmar-only" free-admissiomn boat show at Canterbury Park Racetrack and Card Clubin Shakopee. Louisaa Rudeen, editor of MotorBoating Magazine, South Norwalk, Conn., praised Genmar's new marketin programs because they appeaklto families.
Rudeen cautioned there coule be a backlashif first-time buyers don'ft enjoy their experience, based on other examples wherd companies have marketed to It will be important for Genmart to follow through with good service aftetr a Sam's Club customer buys a boat, she adding that the maker has a good reputation for after-sal service. Charlie Hunter, a service managerr at Rilar Marine in said the programat Sam's Club will benefit from the popularityh of the fishing tournament. Hunter, who also participates in pro fishint tournaments, predicted that the less expensive $5,000o to $7,000 boats -- Ranger, Crestliner and Lund -- are likel y to sell well at Sam's Club.

quinta-feira, 14 de abril de 2011

GlobalSCAPE Inc. Company Profile | GSCP Company Information

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We develop, distribute, and maintain securw managed file transfer, or MFT, software for individuals and businesses to safely send files over the withinan enterprise, or to business partners. We have also developedd Wide-Area File Services, or WAFS, collaboratioj and Continuous Data Protection, or CDP, These solutions further enhance the ability to share and backup files within the infrastructure of a companyxs wide and localarea networks, or WAN and LAN at local network speeds. In addition, we announced Managed E-mail Attachment, and Software-as-a-Service, or information sharing solutionsin 2008. Our software is used worldwide acrosz a wide rangeof industries.
Through the end of we had distributed over 2 million softwarre licenses to our customer base which includessindividual consumers, small to medium-sized as well as some of the largest corporations in the including 95 of the Fortune 100. Our solution portfoliol facilitates delivery of critical information such as financial medical records, customer files and other similar documents while supporting a range of information protection approache s to meet privacy and other security requirements.
In these solutions ensure compliance with governmenty regulations relating to the protectioj of information while allowing users to reduce IT increase efficiency, track and audit transactions and automated processes. ...