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was the highest-ranked at No. 19. The list, features in the June edition ofthe magazine, ranka banks on a three-yeaf average return on equity. HBancorporatio Inc., based in Lawrenceville, Ill., was the No. 1-ratexd bank on the list, postinhg a 26.10 percent average return on equitt duringthree years, and 33.10 percent for 2007. Stock Yards’s returm was a three-year average return of 16.85 and 15.93 percent for 2007, accordinbg to U.S. Banker data. is ranked at No. 73, with a 13.41 averagw return over three and 10.64 percent for 2007. , baseed in Elizabethtown, Ky., was listed at No. 156, postingb a 11.43 percent return on equity over three and 6.37 percent for 2007. U.S.
Banker magazine, based in New York, is bank industry Research for the list was providedby , a Va.-based business-intelligence company. SNL Research found that banks informerluy fast-growth states such as Florida, Arizona and Nevadaz had become underperformers due to the real estatee collapse, and that banks in slow-growth states such as Pennsylvanis and New York accounted for the majority of banksx on the list, according to a news release. The data also showex that “even the healthiest communityy banksare weakening,” with only threee banks out of 200 reportin g their return on equit had increased between Dec. 31, 2007 and Dec. 31, 2008.
And if there’s one thinv banks have learned from thefinancial crisis, it’ that their fortunes can turn in a hurry,” the articl states. Five banks in the top 65 one year ago, includin g No. 2 Silver State have failed.
четверг, 28 февраля 2013 г.
суббота, 23 февраля 2013 г.
Bishop Yosif : The Holy Synod's decision is final and statutorily - Focus News
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Bishop Yosif : The Holy Synod's decision is final and statutorily Focus News Bishop Yosif : The Holy Synod's decision is final and statutorily. 16 February 2013 | 17:39 | FOCUS News Agency. Home / Bulgaria. Sofia. “When the end is good, everything is good,†Metropolitan bishop Yosif, spokesman of the Holy Synod told journalists ... |
понедельник, 18 февраля 2013 г.
Monument Bank chairwoman resigns - Baltimore Business Journal:
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Brasington, a former president of the , served as chairwoma of the Bethesda-based community bank since 2005. She planas to focus more time on her new job as vice president for economiv and community outreach atin “For the past three and in the organizational phase, the bank has made significant progresd in all operational prospectss and in building its committees, boar functions, governance policy and cohesiveness,” Brasingtom wrote in a resignation letter to the “I feel honored to have served as chairma n during this time and hope that I have contributede to the establishment of some of our organizational core values.
” Replacing Brasington is David Fairweather, previously vice chairman of the bank. Angelo Magafan is the new vice chairman. Fairweather and Magafanj have been directors sinceSeptember 2005. Fairweather is an associate brokerr within Bethesda. Magafam is a principal with in Joiningthe 15-member board is Jim a principal with Arlington-based He has experience in mergerzs and acquisitions and corporate financial advisoryh services. The privately held bank employzs30 people.
Brasington, a former president of the , served as chairwoma of the Bethesda-based community bank since 2005. She planas to focus more time on her new job as vice president for economiv and community outreach atin “For the past three and in the organizational phase, the bank has made significant progresd in all operational prospectss and in building its committees, boar functions, governance policy and cohesiveness,” Brasingtom wrote in a resignation letter to the “I feel honored to have served as chairma n during this time and hope that I have contributede to the establishment of some of our organizational core values.
” Replacing Brasington is David Fairweather, previously vice chairman of the bank. Angelo Magafan is the new vice chairman. Fairweather and Magafanj have been directors sinceSeptember 2005. Fairweather is an associate brokerr within Bethesda. Magafam is a principal with in Joiningthe 15-member board is Jim a principal with Arlington-based He has experience in mergerzs and acquisitions and corporate financial advisoryh services. The privately held bank employzs30 people.
среда, 13 февраля 2013 г.
Belgrade teen sentenced for crime spree - The Bozeman Daily Chronicle
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Belgrade teen sentenced for crime spree The Bozeman Daily Chronicle A Belgrade teen was sentenced Tuesday for his part in a summer crime spree that resulted in more than $9,700 in damage. Jordan Michael Malby, 18, received two years probation from Gallatin County District Court Judge Holly Brown for felony criminal ... |
пятница, 8 февраля 2013 г.
State Patrol launches criminal investigation into Hecker's auto group - Minneapolis / St. Paul Business Journal:
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Hecker allegedly has not been paying the statr sales tax onlicense titles, registrations and other fees. He is also accused of not paying off loans acquired from customers when they boughfnew cars. A press conference by the State Patroo is expected laterthis morning. Agents from the , the Minnesotaa State Patrol and the are raiding severaoof auto-dealer Denny Hecker’s properties in St. Louix Park Wednesday. Hecker and his attorney, Marsh Halberg, couldn’t immediatelyg be reached for comment. Hecker’s three homes are also being as are several ofhis dealerships.
whose businesses include a chaibn of auto dealerships anda home-mortgage company, sold or closesd more than 18 dealerships since last when cut off his credit. He on June 4. He owes up to $1 billio n to as many as 1,00o creditors. It's a felony under Minnesota state law to not pay statre sales tax onmotor vehicles, punishable by up to five yearsz in prison and up to $10,000. It is also a felony to fail to pay off a lien when a car dealere takes a vehicle in on tradwhen there's a lien on that vehicle, punishable by up to threde years in prison and up to $6,000.
Hecker allegedly has not been paying the statr sales tax onlicense titles, registrations and other fees. He is also accused of not paying off loans acquired from customers when they boughfnew cars. A press conference by the State Patroo is expected laterthis morning. Agents from the , the Minnesotaa State Patrol and the are raiding severaoof auto-dealer Denny Hecker’s properties in St. Louix Park Wednesday. Hecker and his attorney, Marsh Halberg, couldn’t immediatelyg be reached for comment. Hecker’s three homes are also being as are several ofhis dealerships.
whose businesses include a chaibn of auto dealerships anda home-mortgage company, sold or closesd more than 18 dealerships since last when cut off his credit. He on June 4. He owes up to $1 billio n to as many as 1,00o creditors. It's a felony under Minnesota state law to not pay statre sales tax onmotor vehicles, punishable by up to five yearsz in prison and up to $10,000. It is also a felony to fail to pay off a lien when a car dealere takes a vehicle in on tradwhen there's a lien on that vehicle, punishable by up to threde years in prison and up to $6,000.
суббота, 2 февраля 2013 г.
Sprint Center gets fourth 'founding partner' - Kansas City Business Journal:
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, whose brands include Olevia televisions, is Sprint Center's fourth "founding partner." The sponsorship deal is part of a largeer agreement with arena operator andinvestor . Chriw Thomas, vice president of corporate sales forSprint Center, said the sponsorshipp will result in high-definition Olevis LCD televisions being placed throughouf the arena's concourses and suitese -- about 300 units in all. "Insteac of having traditional televisiohn sets, the entire facility is going to have LCD Thomas said.
He said that Sprint Centert will be the first AEG property to be fully outfittede with Olevia sets but that the sponsorship will put the sets in AEG arena and stadiums throughoutthe country. Amonhg AEG's venues are Staples Cente and The Home Depot Center in Los NOKIA Theatre Times Square in New York andPrudential Center, now undefr construction in New Syntax-Brillian joins UMB, and The as founding partners for Sprintg Center. Thomas said arena officials are closse to announcing a few otherfoundint partners. AEG usually tries to get 10 to 12 foundinvg partners forits facilities.
The $276 million Sprint Center is set to openin
, whose brands include Olevia televisions, is Sprint Center's fourth "founding partner." The sponsorship deal is part of a largeer agreement with arena operator andinvestor . Chriw Thomas, vice president of corporate sales forSprint Center, said the sponsorshipp will result in high-definition Olevis LCD televisions being placed throughouf the arena's concourses and suitese -- about 300 units in all. "Insteac of having traditional televisiohn sets, the entire facility is going to have LCD Thomas said.
He said that Sprint Centert will be the first AEG property to be fully outfittede with Olevia sets but that the sponsorship will put the sets in AEG arena and stadiums throughoutthe country. Amonhg AEG's venues are Staples Cente and The Home Depot Center in Los NOKIA Theatre Times Square in New York andPrudential Center, now undefr construction in New Syntax-Brillian joins UMB, and The as founding partners for Sprintg Center. Thomas said arena officials are closse to announcing a few otherfoundint partners. AEG usually tries to get 10 to 12 foundinvg partners forits facilities.
The $276 million Sprint Center is set to openin
понедельник, 28 января 2013 г.
CFOs remain cautious when hiring - South Florida Business Journal:
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Just 10 percent of chief financial officerd inthe Miami/Fort Lauderdale area and 5 percen t of CFOs in the West Palm Beach area expect to add accountinvg and finance staff during the thirr quarter, according the survey. The index also found 12 percent of CFOsin Miami/Fortr Lauderdale and 11 percent in West Palm Beach anticipate reductiond in personnel, while 77 percenr in Miami/Fort Lauderdale and 82 percent in West Palm Beach expectr no change in hiring. "Man y companies remain hesitant to commit to adding staff until they are certain of aneconomifc recovery," said Max Messmer, chairmaj and CEO of Robert Half International.
"In the most firms are workinyg with their current teams to managsekey initiatives, with some employerw also bringing in project professionals to assist with rising workloads and support full-tims personnel." Nationwide, 5 percent of CFOs expec to hire full-time employees during the third while 8 percent anticipate personnel reductions. The majorityh of respondents (85 percent) say they plan to maintain theidr currentstaff levels. The resultsz reflect a two-quarter rolling average based on interviews with 200 CFOs from a stratifierd random sample of companies with 20 ormore employees.
Just 10 percent of chief financial officerd inthe Miami/Fort Lauderdale area and 5 percen t of CFOs in the West Palm Beach area expect to add accountinvg and finance staff during the thirr quarter, according the survey. The index also found 12 percent of CFOsin Miami/Fortr Lauderdale and 11 percent in West Palm Beach anticipate reductiond in personnel, while 77 percenr in Miami/Fort Lauderdale and 82 percent in West Palm Beach expectr no change in hiring. "Man y companies remain hesitant to commit to adding staff until they are certain of aneconomifc recovery," said Max Messmer, chairmaj and CEO of Robert Half International.
"In the most firms are workinyg with their current teams to managsekey initiatives, with some employerw also bringing in project professionals to assist with rising workloads and support full-tims personnel." Nationwide, 5 percent of CFOs expec to hire full-time employees during the third while 8 percent anticipate personnel reductions. The majorityh of respondents (85 percent) say they plan to maintain theidr currentstaff levels. The resultsz reflect a two-quarter rolling average based on interviews with 200 CFOs from a stratifierd random sample of companies with 20 ormore employees.
среда, 23 января 2013 г.
M&T Bank ranking is 519 on Fortune list - Business First of Buffalo:
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If the region ever agaimn gets to host a Fortune500 company, might be the one that does it. The Buffalo-based regional financial services company ranks519 - only 19 spotsw off the prestigious list with revenues of $3.7 Revenues determine the rankings. Whether M&T ever break into the Fortune 500 is not a questioj the company isconcernedx about, spokesman C. Michael Zabel said. "We are not focuse on growing to acertain size; we're focused on running the companu well," he said.
"But by running the companh well overthe years, we've positioned ourselves to grow the bank Between 2000 and 2005, M&T earnings increasef 173 percent from $286 million to $782 employment has risen from 8,700 employeees to more than 13,000, and the number of branchh offices has grown from 488 to more than 670. Zabel said it is unfortunat e that Buffalo and upstate NewYork don'f have more companies on the list. He noted that only five of the 1,0000 largest U.S. corporations Fortune magazine rankz arebased upstate.
"Our regional economies suffer becauserwe don't have more big corporate the employment base, the tax base and everything else that comed along with them," he Among New York companies on the Fortune 500 M&T is one spot behind The company, which has headquarterz in Fairport, is a producer and marketer of alcohokl beverage brands in wine, imported beer and spirits. unlike Buffalo, has two Fortune 500 companies: Constellatiomn Brands, which is 487; and , which is 155. , in Steubejn County 90 miles south of is 456.
If the region ever agaimn gets to host a Fortune500 company, might be the one that does it. The Buffalo-based regional financial services company ranks519 - only 19 spotsw off the prestigious list with revenues of $3.7 Revenues determine the rankings. Whether M&T ever break into the Fortune 500 is not a questioj the company isconcernedx about, spokesman C. Michael Zabel said. "We are not focuse on growing to acertain size; we're focused on running the companu well," he said.
"But by running the companh well overthe years, we've positioned ourselves to grow the bank Between 2000 and 2005, M&T earnings increasef 173 percent from $286 million to $782 employment has risen from 8,700 employeees to more than 13,000, and the number of branchh offices has grown from 488 to more than 670. Zabel said it is unfortunat e that Buffalo and upstate NewYork don'f have more companies on the list. He noted that only five of the 1,0000 largest U.S. corporations Fortune magazine rankz arebased upstate.
"Our regional economies suffer becauserwe don't have more big corporate the employment base, the tax base and everything else that comed along with them," he Among New York companies on the Fortune 500 M&T is one spot behind The company, which has headquarterz in Fairport, is a producer and marketer of alcohokl beverage brands in wine, imported beer and spirits. unlike Buffalo, has two Fortune 500 companies: Constellatiomn Brands, which is 487; and , which is 155. , in Steubejn County 90 miles south of is 456.
пятница, 18 января 2013 г.
SunTrust raises $2.08B in Tier 1 capital - Orlando Business Journal:
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SunTrust raised the capital throughu a andother measures. The common stocj offering sold 124.2 million in shares and raise $1.56 billion in new capital. Througb the combination of this equity offering and the completion of an common stock offering thatraised $258 million, the company has raisedd $1.82 billion of Tier 1 common SunTrust also sold shares for a net after-tax gain of $70 Due to the completion of the transactions, $190 milliomn of potential deferred tax assets under Federal Reserve's Supervisory Capital Assessment Program "more adverse" scenario will now contribute to the company'sw Tier 1 common capital buffer requirement.
When combined with the these itemstotal $2.08 billion, or 96 percent of the $2.1y6 billion of Tier 1 common indicatexd by the SCAP. "The positive reaction to our stock offeringy underscores what we believe to bethe market's confidencde in SunTrust, our strategies and, especially, our post-recession growtuh prospects," said James M. Wella III, SunTrust chairman and CEO, in a news Wells also noted that with lessthan $100 million remaining, the company has essentially completesd its common equity capital-generation obligations under SunTrust is the largest financial institution in Orlando with $6.867 billion in deposits, 74 branches and a market share of 21.
4 percent as of June 30, accordinv to the Federal Deposit Insurance Corp.
SunTrust raised the capital throughu a andother measures. The common stocj offering sold 124.2 million in shares and raise $1.56 billion in new capital. Througb the combination of this equity offering and the completion of an common stock offering thatraised $258 million, the company has raisedd $1.82 billion of Tier 1 common SunTrust also sold shares for a net after-tax gain of $70 Due to the completion of the transactions, $190 milliomn of potential deferred tax assets under Federal Reserve's Supervisory Capital Assessment Program "more adverse" scenario will now contribute to the company'sw Tier 1 common capital buffer requirement.
When combined with the these itemstotal $2.08 billion, or 96 percent of the $2.1y6 billion of Tier 1 common indicatexd by the SCAP. "The positive reaction to our stock offeringy underscores what we believe to bethe market's confidencde in SunTrust, our strategies and, especially, our post-recession growtuh prospects," said James M. Wella III, SunTrust chairman and CEO, in a news Wells also noted that with lessthan $100 million remaining, the company has essentially completesd its common equity capital-generation obligations under SunTrust is the largest financial institution in Orlando with $6.867 billion in deposits, 74 branches and a market share of 21.
4 percent as of June 30, accordinv to the Federal Deposit Insurance Corp.
воскресенье, 13 января 2013 г.
On eve of signing deadline, Ritter OKs bills for truckers, movies, restaurants - Atlanta Business Chronicle:
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But economic developers and investore must continue to wait to see if the governorf will come to their aidbefore Friday’s deadlines to sign or veto legislation. Ritter beganm the day at the Alliance for Sustainable Coloradio Center indowntown Denver, signinhg three bills that he said will continude to build the state’s “New Energy Economy.” House Bill 1298, sponsored by Reps. Buffie McFadyen, D-Pueblok West, and Cory Gardner, lets trucking companies get 25 percent reimbursement of the cost of buying andinstalling fuel-efficient technologied and emission-control devices.
More importantly, McFadyem said, it prorates sales tax on truckingh equipment based on the percentage of miles companiesx drive in Colorado and it allows truckerw finally to take advantageof enterprise-zone tax “This bill is so incredibly important to the industry, not only for the environment but for the survivak of truckers that are in business,” she said whilr tearing up at the signing. House Bill 1331, sponsoreed by Rep. Sara Gagliardi, D-Arvada, expandss the pool of vehicles eligiblefor alternative-fuepl tax credits to include thosr that run on cleaner-burning natural gas. It also eliminates eligibilitu for some hybrid vehicle s that are not saidsponsoring Sen.
Betty Boyd, D-Lakewood. Ritter notedx that the Colorado Oil and Gas Association and the nonprofir group Environment Colorado both supportedthe measure. “If COGA and Environment Colorado it has to be agreayt bill,” he said. And Senats Bill 75, championed by the company Aspeb Electric Carsand Carts, allows drivers to operatre low-speed electric vehicles on most roads with speed limits of 35 mph or lower. From Ritter went to the officews in Denver and signed a measuresto re-establish the Colorado Officde of Film, Television and Media. House Bill 1010, sponsorexd by Rep. Tom Massey, R-Ponchz Springs, and former Rep.
Anne McGihon, allows the office to solicit gifts and donations to offe incentives to producers to make film s inthe state. “I believe this move signals that Colorado is becomingh serious about attracting production to the state once saidKevin Shand, executive director of the Coloradp Film Commission. “By becoming part of the state once the film office will once again have resourceas to market Colorado effectivelh and help expand our economicv development efforts in a new anddifferent Finally, Ritter returned to his Capito office to sign nine separate bills, including measures to help the restauranf and broadband industries. Senate Bill 121, sponsorerd by Sen.
Al White, R-Hayden, eliminates the sales and use tax restaurants must pay when offerin g freeor reduced-price mealz to employees. Senate Bill 162, sponsored by Sen. Gail D-Snowmass Village, requires the Offics of Information Technology to creater a map of where broadband technology is available and not available in the Ritter has not announced his intentions on at leasyt two bills being watched closely by thebusiness community, One is Senate Bill 173, whichn would allow local governments to work with the state Economic Development Commission to offet incentives to attract and build tourism-generating projects.
The bill is consideredc key to landing either of twopotentialp auto-racetrack projects east of The other is House Bill 1366, which limits the Colorado-sourc capital gains subtraction to the first $100,000 of gains on assete held for five yearse or more. If signed, the bill would generates $15.8 million to help balances the budget.
But economic developers and investore must continue to wait to see if the governorf will come to their aidbefore Friday’s deadlines to sign or veto legislation. Ritter beganm the day at the Alliance for Sustainable Coloradio Center indowntown Denver, signinhg three bills that he said will continude to build the state’s “New Energy Economy.” House Bill 1298, sponsored by Reps. Buffie McFadyen, D-Pueblok West, and Cory Gardner, lets trucking companies get 25 percent reimbursement of the cost of buying andinstalling fuel-efficient technologied and emission-control devices.
More importantly, McFadyem said, it prorates sales tax on truckingh equipment based on the percentage of miles companiesx drive in Colorado and it allows truckerw finally to take advantageof enterprise-zone tax “This bill is so incredibly important to the industry, not only for the environment but for the survivak of truckers that are in business,” she said whilr tearing up at the signing. House Bill 1331, sponsoreed by Rep. Sara Gagliardi, D-Arvada, expandss the pool of vehicles eligiblefor alternative-fuepl tax credits to include thosr that run on cleaner-burning natural gas. It also eliminates eligibilitu for some hybrid vehicle s that are not saidsponsoring Sen.
Betty Boyd, D-Lakewood. Ritter notedx that the Colorado Oil and Gas Association and the nonprofir group Environment Colorado both supportedthe measure. “If COGA and Environment Colorado it has to be agreayt bill,” he said. And Senats Bill 75, championed by the company Aspeb Electric Carsand Carts, allows drivers to operatre low-speed electric vehicles on most roads with speed limits of 35 mph or lower. From Ritter went to the officews in Denver and signed a measuresto re-establish the Colorado Officde of Film, Television and Media. House Bill 1010, sponsorexd by Rep. Tom Massey, R-Ponchz Springs, and former Rep.
Anne McGihon, allows the office to solicit gifts and donations to offe incentives to producers to make film s inthe state. “I believe this move signals that Colorado is becomingh serious about attracting production to the state once saidKevin Shand, executive director of the Coloradp Film Commission. “By becoming part of the state once the film office will once again have resourceas to market Colorado effectivelh and help expand our economicv development efforts in a new anddifferent Finally, Ritter returned to his Capito office to sign nine separate bills, including measures to help the restauranf and broadband industries. Senate Bill 121, sponsorerd by Sen.
Al White, R-Hayden, eliminates the sales and use tax restaurants must pay when offerin g freeor reduced-price mealz to employees. Senate Bill 162, sponsored by Sen. Gail D-Snowmass Village, requires the Offics of Information Technology to creater a map of where broadband technology is available and not available in the Ritter has not announced his intentions on at leasyt two bills being watched closely by thebusiness community, One is Senate Bill 173, whichn would allow local governments to work with the state Economic Development Commission to offet incentives to attract and build tourism-generating projects.
The bill is consideredc key to landing either of twopotentialp auto-racetrack projects east of The other is House Bill 1366, which limits the Colorado-sourc capital gains subtraction to the first $100,000 of gains on assete held for five yearse or more. If signed, the bill would generates $15.8 million to help balances the budget.
суббота, 12 января 2013 г.
Cincinnati-area firms win Ohio incentives - The Business Journal of the Greater Triad Area:
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, a maker of marketing simulation andplanning software, received $1.1 million from the Innovation Ohio Loan at an annual interest rate of 1 percent for the first year and 8 percentt for five years. The Cincinnati-based company will use the loan to developo a new generation of its Emerging Marketplace software and buycomputed equipment. The $2.2 million projecft is expected to create 36 jobs and retain 10 Two local firms also received Job Creation Tax Credits forexpansion projects. • , a supplier of labelin g systems for thebeverage industry, was awarded a 45 percent tax credit for five years for a $1 million expansiob project in Mason.
The companhy expects to use the credit, worth abou t $52,700 over its to create 25 jobs andretain 118. • won a 45 perceny job credit, for a six-year term, for a $170,00 expansion project at its regionalofficse downtown. The credit is valued at about $119,750o over its term. Advantage expects to create 33 positiones andretain 65. The company, headquartered in Spokane, Wash., provideas energy management consulting
, a maker of marketing simulation andplanning software, received $1.1 million from the Innovation Ohio Loan at an annual interest rate of 1 percent for the first year and 8 percentt for five years. The Cincinnati-based company will use the loan to developo a new generation of its Emerging Marketplace software and buycomputed equipment. The $2.2 million projecft is expected to create 36 jobs and retain 10 Two local firms also received Job Creation Tax Credits forexpansion projects. • , a supplier of labelin g systems for thebeverage industry, was awarded a 45 percent tax credit for five years for a $1 million expansiob project in Mason.
The companhy expects to use the credit, worth abou t $52,700 over its to create 25 jobs andretain 118. • won a 45 perceny job credit, for a six-year term, for a $170,00 expansion project at its regionalofficse downtown. The credit is valued at about $119,750o over its term. Advantage expects to create 33 positiones andretain 65. The company, headquartered in Spokane, Wash., provideas energy management consulting
пятница, 11 января 2013 г.
Food Prices Lead December Inflation in China - New York Times
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Telegraph.co.uk | Food Prices Lead December Inflation in China New York Times BEIJING â€" The annual consumer inflation rate in China accelerated to a seven-month high of 2.5 percent in December, mostly because of rising food prices. The rate, which exceeded expectations, narrowed the scope for the central bank to stimulate the ... China's Infla tion Accelerates as Chill Boosts Food Prices China consumer inflation quickens on food costs Food prices boost China inflation |
четверг, 10 января 2013 г.
Only 5 years old, First Western Financial tops the medium group - Denver Business Journal:
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Wylie's plan came together when he recruitedWarrenj Olsen, who had retired early, at 40, and returnedc to Denver after making his mark on Wall Street. The two finance veterans foundedthe Denver-based holding company in 2002. Firstf Western's revenue shot up 472 percent from 2004 to fromnearly $1.6 million to more than $9 million. At the end of May, it had $175 millio in consolidated assetsand $1.4 billionh of assets under management for "We thought there was a big market that wasn'tg being served as well as it could said Wylie, chairman and CEO of First Western.
"There was a big opportunity out People were looking for a combinationh of a trusted advisor and a sophisticatef approach toinvestment management." Today, First Westerh has 120 individual shareholders, and a tota of 80 employees workingf at its s. It has banka in Denver, Cherry Creek and Fort A new bank is expected toopen Aug. 1 in Boulde r and another in Scottsdale, Ariz., abou t Oct. 1. First Western's key services included investment management, trust and fiduciary services, and family office services.
Its clientws are individuals, companies and foundations with a liquid net worth of atleast $1 million; a typicaol customer is affluent but not necessaril y born with a silver "Banks in the older part of the United Statexs that service a 200- to 300-year-olxd economy have a paternalistic relationship with clientd who have intergenerational wealth. But there's a much younger economu in Denver and the West based onhigh tech, biotech and telecom," Wylie said.
"So wealt here is concentrated in the first who thinks very differently about People who are the firsr in their families to become wealthy are lookinffor smart, local financiaol experts rather than getting a pat on the head and being told that all'sw fine," he said. Both Wylie and Olsen have backgrounds rich ininvestmentt leadership. Wylie started his first bank 20 years ago as a subsidiargy of the Prior to startingFirstr Western, he was chairman and CEO of . before stepping into his current role asFirst Western's vice chairman and chief investment officer, was presidenf and CEO of -- where assetsx under management increased from $3 billion to $10 billiohn under his leadership.
Prior to he founded and was presidentof 's global fund Olsen also started the Morganh Stanley Institutional Funds, which he grew to more than $35 billioh in assets under Olsen and Wylie opened their first bank, First Western Trust in Denver in 2004. Today, it has $250 million in assetsd under management. That same First Western acquired threeFort Collins-based firms and openex a bank there. Then in 2005, aftedr merged with First Western, a bank was establishedc in Cherry Creek.
Wylir said the firm's plan is to entert one big, new market a year but remaih assmall boutique, private banks in order to providew better product offerings and technology than the First Western is looking to enter the Los Angeles markeft next year. Other possible locations includethe , Colorado'ss high-end mountain communities and Colorado and perhaps a bank in Tucsomn and a second one in the Scottsdal e area. Eventually, Wylie and Olsen want everyh First Western bank tohave $250 millioh in bank assets, and $1 billionh in trust and investment management "I believe we have a big opportunity and can grow reallyt fast," Wylie said.
"We can't manage the growth with a commandc andcontrol approach. Rather, we have to do it with a stronv cultureand values." The company's communitt involvements include organizations such as the , , , the and the . No. 1 - Mediunm companies First WesternFinancialp Inc. Web site: No. of 80 Revenue growth: From $1,591,000 to $9,093,000; 472 percent
Wylie's plan came together when he recruitedWarrenj Olsen, who had retired early, at 40, and returnedc to Denver after making his mark on Wall Street. The two finance veterans foundedthe Denver-based holding company in 2002. Firstf Western's revenue shot up 472 percent from 2004 to fromnearly $1.6 million to more than $9 million. At the end of May, it had $175 millio in consolidated assetsand $1.4 billionh of assets under management for "We thought there was a big market that wasn'tg being served as well as it could said Wylie, chairman and CEO of First Western.
"There was a big opportunity out People were looking for a combinationh of a trusted advisor and a sophisticatef approach toinvestment management." Today, First Westerh has 120 individual shareholders, and a tota of 80 employees workingf at its s. It has banka in Denver, Cherry Creek and Fort A new bank is expected toopen Aug. 1 in Boulde r and another in Scottsdale, Ariz., abou t Oct. 1. First Western's key services included investment management, trust and fiduciary services, and family office services.
Its clientws are individuals, companies and foundations with a liquid net worth of atleast $1 million; a typicaol customer is affluent but not necessaril y born with a silver "Banks in the older part of the United Statexs that service a 200- to 300-year-olxd economy have a paternalistic relationship with clientd who have intergenerational wealth. But there's a much younger economu in Denver and the West based onhigh tech, biotech and telecom," Wylie said.
"So wealt here is concentrated in the first who thinks very differently about People who are the firsr in their families to become wealthy are lookinffor smart, local financiaol experts rather than getting a pat on the head and being told that all'sw fine," he said. Both Wylie and Olsen have backgrounds rich ininvestmentt leadership. Wylie started his first bank 20 years ago as a subsidiargy of the Prior to startingFirstr Western, he was chairman and CEO of . before stepping into his current role asFirst Western's vice chairman and chief investment officer, was presidenf and CEO of -- where assetsx under management increased from $3 billion to $10 billiohn under his leadership.
Prior to he founded and was presidentof 's global fund Olsen also started the Morganh Stanley Institutional Funds, which he grew to more than $35 billioh in assets under Olsen and Wylie opened their first bank, First Western Trust in Denver in 2004. Today, it has $250 million in assetsd under management. That same First Western acquired threeFort Collins-based firms and openex a bank there. Then in 2005, aftedr merged with First Western, a bank was establishedc in Cherry Creek.
Wylir said the firm's plan is to entert one big, new market a year but remaih assmall boutique, private banks in order to providew better product offerings and technology than the First Western is looking to enter the Los Angeles markeft next year. Other possible locations includethe , Colorado'ss high-end mountain communities and Colorado and perhaps a bank in Tucsomn and a second one in the Scottsdal e area. Eventually, Wylie and Olsen want everyh First Western bank tohave $250 millioh in bank assets, and $1 billionh in trust and investment management "I believe we have a big opportunity and can grow reallyt fast," Wylie said.
"We can't manage the growth with a commandc andcontrol approach. Rather, we have to do it with a stronv cultureand values." The company's communitt involvements include organizations such as the , , , the and the . No. 1 - Mediunm companies First WesternFinancialp Inc. Web site: No. of 80 Revenue growth: From $1,591,000 to $9,093,000; 472 percent
вторник, 8 января 2013 г.
воскресенье, 6 января 2013 г.
State unveils Florida Growth Fund - South Florida Business Journal:
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The fund will manage $250 million in capital on behalfd of the Florida Retirement System Pension The SBA isa state-runn agency that provides a variety of investmentr services to various governmentalp entities. “Florida needs leadership to develolpeconomic growth, because this is one of the biggest issuesa currently facing our state,” said Attorneyt General Bill McCollum, who was on hand for the launcuh of the fund. “We have to find a balancef way to stimulate our economy and solve theswe problems rather than simply relying on federal handouts.
” Hamilton Lane, an independeny private equity asset management Institution, will work with the SBA to develol and manage the fund for three The co-investment portion of the Floridaa Growth Fund will make investments alongside privatr equity partnerships based or operating in the State of according to a news release. Hamilto Lane’s co-investment team will "review each opportunity lookinf for a companyheadquartered in, or conducting a significant portion of its respective business in Florida; profitable companies; experience management teams; and attractive growtjh trends, the release states.
A selecyt number of partnerships, with a target commitment size ofapproximately $10 million to $20 million per venture, will receive the investment capital. The projec grew out of the Florida Technology and Growth Act that passed durin the 2008 Floridalegislative session. The act created the $250 milliob fund.
The fund will manage $250 million in capital on behalfd of the Florida Retirement System Pension The SBA isa state-runn agency that provides a variety of investmentr services to various governmentalp entities. “Florida needs leadership to develolpeconomic growth, because this is one of the biggest issuesa currently facing our state,” said Attorneyt General Bill McCollum, who was on hand for the launcuh of the fund. “We have to find a balancef way to stimulate our economy and solve theswe problems rather than simply relying on federal handouts.
” Hamilton Lane, an independeny private equity asset management Institution, will work with the SBA to develol and manage the fund for three The co-investment portion of the Floridaa Growth Fund will make investments alongside privatr equity partnerships based or operating in the State of according to a news release. Hamilto Lane’s co-investment team will "review each opportunity lookinf for a companyheadquartered in, or conducting a significant portion of its respective business in Florida; profitable companies; experience management teams; and attractive growtjh trends, the release states.
A selecyt number of partnerships, with a target commitment size ofapproximately $10 million to $20 million per venture, will receive the investment capital. The projec grew out of the Florida Technology and Growth Act that passed durin the 2008 Floridalegislative session. The act created the $250 milliob fund.
пятница, 4 января 2013 г.
Martek Biosciences Corp. 2Q profit rises 20 percent - Baltimore Business Journal:
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The company reported $92.4 million in revenue for the quartere endingApril 30, up 2 percent from the same period last year. It earned $11 million in net or 33 cents perdiluted share, during the second compared with $9.2 million, or 28 cents per dilutef share, during the second quartet of last year. Analysts polledr by expected the company to earn 29 centsw per shareand $89 million in Martek (NASDAQ: MATK) sells nutritional oils derived from algae that are used in infanf formula, dietary supplements and food products such as yogurtf and juice. Sales of its nutritional supplements to the nursing market rose to arecordc $9.8 million.
But the companyg warned that its infant formula sales in the thirsd and fourth quarters could drop as retailerd trim their inventories ofthe product. The company anticipates that infanrt formula revenue will grow in fiscalp 2010 as a resulgt of strong demand for infant formula products containing its nutritional oils DHAand ARA. The Omega-2 fatty acids are believed to play an importanty role in brain andeye development. studyh that could show that Martek’sz DHA can slow the progressionof Alzheimer’zs disease.
The company reported $92.4 million in revenue for the quartere endingApril 30, up 2 percent from the same period last year. It earned $11 million in net or 33 cents perdiluted share, during the second compared with $9.2 million, or 28 cents per dilutef share, during the second quartet of last year. Analysts polledr by expected the company to earn 29 centsw per shareand $89 million in Martek (NASDAQ: MATK) sells nutritional oils derived from algae that are used in infanf formula, dietary supplements and food products such as yogurtf and juice. Sales of its nutritional supplements to the nursing market rose to arecordc $9.8 million.
But the companyg warned that its infant formula sales in the thirsd and fourth quarters could drop as retailerd trim their inventories ofthe product. The company anticipates that infanrt formula revenue will grow in fiscalp 2010 as a resulgt of strong demand for infant formula products containing its nutritional oils DHAand ARA. The Omega-2 fatty acids are believed to play an importanty role in brain andeye development. studyh that could show that Martek’sz DHA can slow the progressionof Alzheimer’zs disease.
среда, 2 января 2013 г.
Sandwich Isles bids $400M for Hawaiian Telcom - Dallas Business Journal:
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, a company founded in 1995 to take advantagre of government subsidies that pay for the installation of broadbanrd cable inrural areas, said in a court filinfg last week that it wants to buy all of Hawaiiab Telcom’s assets. The company said it would retain all ofHawaiian Telcom’ s 1,400 workers at their current wages, with the exceptionj of senior management. Sandwich Isles said in the filingh that its offer would consistof $250 milliom in cash plus $150 millionn in debt issued by Hawaiian Telcom. A deal with Sandwichy Isles would need the approval of the the Public Utilities Commission and the Federa lCommunication Commission.
Hawaiian Telcom said in a statementt that it stands behind its proposedreorganizatiobn plan, filed in June, to reduce the company’zs debt by nearly $790 million, from $1.1 billion to $300 Hawaiian Telcom filed a motion seeking an extensionn to file a Chapter 11 plan and solici votes. Judge Lloyd King extended that periode toJune 30. The compan y is seeking another extensionto 30. Sandwich Isles has filed an objection to thelatestg request.
“In the objection, Sandwich Isles makes numerous allegationsd about the progress Hawaiian Telcom has made to date inthesde cases, Hawaiian Telcom’s decision not to pursue a sale to Sandwicb Isles and the viability of Hawaiian Telcom’s proposexd plan,” Hawaiian Telcom said in a statement. “The company disputes these allegations and intends to respondf to Sandwich Isles objection in theappropriate forum.” Sandwich Isles was founded by Al Hee, an entrepreneur who saw opportunity in the generous subsidies offered by the federal government to wire rural and remote communitied in the mid-1990s.
Working primarily in developments ownedx by the state Department of HawaiianHome Hee’s company has received more than $400 million in loan from the U.S. Department of Agriculture since 1998. The cost of wiring the rural development s has been calculated at about $13,000 per customer. Hawaiian Telcom filed for Chapter 11 bankruptcyin December. Hawaiian Telcomk is owned by , a Washington, D.C.-basedd private equity group. Carlyle bought the assets of Verizo Hawaii in May 2005for $1.6 billion, and bega n operating independently with its own systemse in April 2006.
, a company founded in 1995 to take advantagre of government subsidies that pay for the installation of broadbanrd cable inrural areas, said in a court filinfg last week that it wants to buy all of Hawaiiab Telcom’s assets. The company said it would retain all ofHawaiian Telcom’ s 1,400 workers at their current wages, with the exceptionj of senior management. Sandwich Isles said in the filingh that its offer would consistof $250 milliom in cash plus $150 millionn in debt issued by Hawaiian Telcom. A deal with Sandwichy Isles would need the approval of the the Public Utilities Commission and the Federa lCommunication Commission.
Hawaiian Telcom said in a statementt that it stands behind its proposedreorganizatiobn plan, filed in June, to reduce the company’zs debt by nearly $790 million, from $1.1 billion to $300 Hawaiian Telcom filed a motion seeking an extensionn to file a Chapter 11 plan and solici votes. Judge Lloyd King extended that periode toJune 30. The compan y is seeking another extensionto 30. Sandwich Isles has filed an objection to thelatestg request.
“In the objection, Sandwich Isles makes numerous allegationsd about the progress Hawaiian Telcom has made to date inthesde cases, Hawaiian Telcom’s decision not to pursue a sale to Sandwicb Isles and the viability of Hawaiian Telcom’s proposexd plan,” Hawaiian Telcom said in a statement. “The company disputes these allegations and intends to respondf to Sandwich Isles objection in theappropriate forum.” Sandwich Isles was founded by Al Hee, an entrepreneur who saw opportunity in the generous subsidies offered by the federal government to wire rural and remote communitied in the mid-1990s.
Working primarily in developments ownedx by the state Department of HawaiianHome Hee’s company has received more than $400 million in loan from the U.S. Department of Agriculture since 1998. The cost of wiring the rural development s has been calculated at about $13,000 per customer. Hawaiian Telcom filed for Chapter 11 bankruptcyin December. Hawaiian Telcomk is owned by , a Washington, D.C.-basedd private equity group. Carlyle bought the assets of Verizo Hawaii in May 2005for $1.6 billion, and bega n operating independently with its own systemse in April 2006.
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