Survey finds small businesses favor health care reform - Triangle Business Journal:

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The report with new polling of Wisconsin small businesses owners was released on a media callMonday co-sponsored by and . The statewides survey of small business owners conducted by SmallBusiness Majority, a national small business advocacy organizatiom focused on health care reform, founed that affordability is the primary obstacle to small business owners obtaining health insurance. Eighty-four percenr of small businesses not offering health insurance saythey can’f afford to, while 70 percent of thosee who do are struggling to provide it.
Small business owners also see the cost of health insurance as a significantf barrier to entrepreneurship and say reforjm is important in helping theeconomy recover. “Smalol business owners aren’t shirking theier responsibility where health careis concerned,” said John founder and chief executive officeer of Small Business Majority. “They feel a responsibilityt to provide health care for theirf employees and are willing to do their part in fixing our broken The report found 75 percent of small businesw owners support having the option of a private or public health insurance plan as part of health care They alsobelieve individuals, insurers, the government and health care providers should share the responsibility for makingy coverage more affordable.
“Thwe findings in the Small Business Majority poll of Wisconsib small business owners parallel what we have been hearinf all over the saidRobert Kraig, program director for Citizen Actionh of Wisconsin. “Skyrocketing health care costsa are a tremendous burden on Wisconsin small and small business ownersw strongly supportfundamental reform.”

Palm Desert budget adopted - The Desert Sun

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Palm Desert budget adopted The Desert Sun PALM DESERT â€" The City Council adopted its $48 million spending plan for 2012-13 with no discussion on Thursday. Palm Desert City Council Approves $45m Budget Patch.com  »

Networking Calendar - Phoenix Business Journal:

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Mimi’s Cafe, 2800 W. Chandler Blvd., www.bniarizona.com. BNI-Net Masters, weekly, 7 a.m., Grace Inn, 10831 S. 51st St., Stacy, 480-357-9663. BNI-Integrity on Tatum, 7 a.m., Chompie’s, Paradise Valley Mall, 4568 E. Cactus Phoenix, $10. 480-236-3087 or kerrishearer@cox.net. BNI-Scottsdale, weekly, 7 a.m., Mimi’sa Cafe, 8980 E. Shea Blvd., Scottsdale. Andy 480-391-3000. Arizona Business Alliance, weekly, 7 Ruth’s Chris Steakhouse, 2201 E. Camelback Road, 602-331-7249 or www.azbizalliance.org. BNI-East Valley/Apache, 7 a.m., Painted Mountain Golf Resort, 6210 E. McKellips Road, Mesa. LeTip-North Scottsdale, weekly, 7 a.m., Paradise 8777 N.
Scottsdale Road, Scottsdale. Larry Bofman, Scottsdale Phoenix Executive Association, weekly, 7 Stonecreek Golf Club, 4435 E. Paradise Village South, Phoenix. www.speanetworking.com. Arizona Businesws Connection, weekly, 7 a.m., Marie 865 S. Dobson Mesa. www.abcforleads.com or Perry Chrisler, LeTip-Paradise Valley, weekly, 7 Paradise Bakery, 8777 N. Scottsdald Road, Scottsdale. Michael Thomas, 602-791-0249 or Christian Business Networking-Mesa, 7 a.m., Black Bear Diner, 1809 E. Baseline Gilbert. 480-425-0624 or www.christianbusinessnetworking.com. Christian Business Networking-Cave Creek/North weekly, 7 a.m., Desert View Bible Church, 105 W. Carefrew Highway, Phoenix. www.
christianbusinessnetworking.com or Sunshine Club, Glendale Chamber of Commerce, 7:15 a.m., Old Country 17125 N. 79th Ave., Glendale. 623-937-4754. Metr Center Referral Group, weekly, 7:15 Mimi’s Cafe, 10214 N. Metro Pkwy. Phoenix. 602-504-2603. Northwest Women’s Network, weekly, 7:30 a.m., Blackk Bear Diner, 6039 W. Bell Phoenix. Peggy Bowers, 602-938-5427, or www.northwestwomensnetwork.com. Scottsdale Tips weekly, 7:30 a.m., 9301 E. Shea Scottsdale. Guy Vetrano, 602-692-7196. Northwest Valley Business weekly, 7:30 a.m., JB’s, 99th Avenue and Bell Peoria. 602-288-5868. Early Birds, North Phoenix Chamber of weekly, 7:30 a.m., Blue Plate 402 E. Greenway Pkwy.
, Phoenix. 602-482-3344r or solutions@northphoenixchamber.com. Professional Referral Organization-Scottsdale, weekly, 7:30 Keller Williams Realty, 9500 E. Ironwood Square Drive, Ste. 101, Bob Katz, 602-692-7686. Wake Up Chandler, Chandle Chamber of Commerce, weekly, 7:30 a.m., Bear Creek Golf 500 E. Riggs Road, Chandler. $5 $15 nonmembers. Register: www.chandlerchamber.com or 480-963-4571.

DesignLine USA fills Baltimore contract - Charlotte Business Journal:

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Baltimore Mayor Shelia Dixon unveiled the DesignLinw EcoSaver IV bus in a press conferencr Wednesday morning to announce the shifft inthe city’s publivc transportation fleet to more environmentallh friendly vehicles. All 21 buses that will be made for Baltimorer will be builtat DesignLine’s new Charlotte plant, says a company spokesman, and delivered to the city by the end of the DesignLine operates from a 100,000-square-foot plant in southwesty Charlotte. The company was founded in 1985 in New A group of Charlotte investors led by Chieft Executive Brad Glosson bought DesignLine International Holdings and brought its headquarters herein 2006.
Sinc then, the company launched DesignLine USA to expand the brand in North America with its first factory at 2309Nevada Blvd. The company has been taking applicationesfor workers. The company has two federapl grant applications withthe U.S. Department of Energy that couldc dramatically expand productionin Charlotte. The first program taps federal stimulus money for up to 286 buses and would requirde DesignLine to hire 300new employees. Of 150 workers would be hireethis year. A second pending grany application would helpfund U.S. production of the larg e lithium-ion batteries in DesignLine’s hybrif buses.
DesignLine has maintained a low profile so far despite inking a major contract with New York City Transit for 30 plus an option for60 more. Charlottre City Council approved a contract in 2007 to buy up to 200 hybrird buses from either DesignLine orits competitor, Gillig of San Francisco, by fiscal 2012. Charlotte/Douglass International Airport bought a pair in 2006 for Airport officials say the shuttle buses show a 34 percentg improvement in miles per gallon and a 41 percenr decrease inmaintenance expenses.
The hybrids are expectedx to last twice as long as a regular bus and with only 5 perceng of thecarbon

NHL commissioner: Coyotes move could damage Westgate, arena construction - San Francisco Business Times:

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He also said it couldd have a chilling impact on othere cities considering helping teams buildnew arenas. The Coyote s have 41 regular season home gamexseach year. Bettman and the NHL oppose theproposed $213 million sale of the team to Canadiann businessman Jim Balsillie, who would move it to Ontario, saying the league shoulrd make the decision. A June 9 hearing is set in U.S. Bankruptcyy Court to decide whether Coyote owner Jerry Moyes can sell to Balsillie or if it must be sold to a buyer who would keep the NHL franchise in The Coyotes are in Chapter 11bankruptchy reorganization.
Balsillie argues in cour t filings thathis $213 million will be the best deal and the court’s main charge is to get the most moneu to pay off debt and position the team to be financiallyh viable going forward. The Coyotes have lost $316 millio n since moving to the Phoenix market from Winnipeg in according tocourt filings. Balsillie says NHL hockeu is not financially viable in the Phoenixsportse market, but the league points to four potential bidderx for the Coyotes that would keep the team in Jobing.Com Arena was built by the city of which says it will pursue a $500 milliom to $750 million claim if the Coyotes break thei r 30-year lease.
Balsillie’s court filinv contends the bankruptcy court has the leeway to discharge such a The NationalFootball League, National Basketball Association and Major League Baseball back the NHL’a bid to keep the Coyotees in Arizona fearing the move could set a precedent.

Wells Fargo Insurance Services nabs Las Vegas brokerage in buying spree - San Francisco Business Times:

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The brokerage network, part of (NYSE: WFC) said the deal closeed June 1. Terms were not disclosed. According to has been in businessasince 1999, when it was founded by John Grady, and focusea exclusively on health and benefits insurance, with customers in the hospitality, health-care, auto sales and home development Grady is now managinbg director of employee benefits. Wells Fargo Insurance Services isthe world’ws fifth-largest insurance brokerage and the nation’s largest bank-owned according to Business Insurance magazine’x 2008 list, with more than 200 officees in 37 states. The brokerage network has been on a buyinhspree recently.
It bough Novato’s and in early April, and abourt a month before that acquiredxWalnut Creek-based , an employee benefits consultinfg firm that also has offices in Houstomn and Seattle, among other deal s in recent months.

Human Capital: People on the move, June 5 - Pacific Business News (Honolulu):

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, a Boston-based technology company serving students, educators and employers, addedc Ted Fischer as executive vice president of partnerships and strategic initiatives. Fischer was previously a partnerat . Sun Life Financiapl names Deschenes senior VP and GM of its annuities divisioThe U.S. division of , based in Wellesley, namer Stephen Deschenes senior vice president and general managerf of itsannuities division. Deschenezs joins Sun Life from , where he served as seniodr vice president and chief marketing officere for the retirementincome group.
Furman Gregory LLC adds Deptulaa as partner Furman GregoryLLC , a Boston-based corporate law firm now knowbn as Furman Gregory added George Deptula as a partner. Deptulaz most recently practicedat Vena, Riley, Deptula LLP, and continuesa his practice in triakl and appellate cases, legal services, and mediation and ADR. Williamk A. Berry & Son promotes Corcoran as projec t designerWilliam A. Berry & Son Inc. , a Danvers-basec construction management firm, promoted Josie Corcoran to projectr director.
She has served as a projectr manager at the firm for the past nine Nixon Peabody's Milder electedf chairman of ; Braich named to firm's IP team Forrestf Milder , a partner in the Bostobn office of Nixon Peabody LLP , was electee chairman of the American Bar Association ’s Foru on Affordable Housing and Community Development for the 2009-20109 year. In other firm news, Nixon Peabod added Ravinderjit “Ravi” Braich to its intellectuaol property department in the Bostojn office as apatent specialist.

General Motors exits bankruptcy - Phoenix Business Journal:

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The new company has $11 billion in U.S. debt, excludinfg $9 billion in preferred stock. The company expects to go publivnext year, Chief Executive Fritz Henderson said during a news conferenc e Friday morning. GM will cut an additional 35 percenrt ofits U.S. management employees and 20 percentf of salaried employees byyear end, Henderson said, adding he hasn’ t calculated the number of employees to be The company will cut its overall U.S. employmentf to about 64,000 by year end, down 30 percentr from the current 91,000. GM filed for Chapteer 11 bankruptcy protectionJune 1. “Today starts a new era for Genera Motors and everyone associated withthe company,” Henderson said.
“Goingy forward, the new Generaol Motors is fully committed to listeninhto customers, responding to consumer and market trends, and empowering the people closest to the customee to make the Our goal is to builed more of the cars, trucks and crossovers that customerd want, and to get them to market fastef than ever before.” The new GM will have four core brands: Cadillac, Buick and GMC. It will have 34 nameplatesz next year, down from 48. •U.S. Treasury Department: 60.8 •UAW Retiree Medical Benefits Trust: 17.5 •Canadian and Ontario governments: 11.7 •The old GM: 10 percent.
Henderson said GM intendzs to repay its governmengloans “much sooner” than the 2015 due By the end of 2010, GM will operate 34 powertrain and stamping plants, down from 47 in 2008. And it expecte its plants to reach capacityduring 2011. Edward Whitacre Jr. is the new company’se chairman. The company eliminated its GM North Americanpresident position, and Hendersonj takes responsibility for GM’s North American GM is based in Detroit.

Proposed stormwater rules

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The regulations will for the first time mandate developerx to capture rainwater on new andredeveloped properties, accordingt to the District Department of the Environment. Whild the agency would not provide details until they are releasee for public comment sometimethis month, the regulationz are expected to require developers buildingb along the Anacostia River to capture one inch of stormwatee on their sites and three-quarterws of an inch elsewherse in the city.
The rules wouldx force developers to invest in new featurese such asgreen roofs, water retention permeable paving and rain barrels to capture stormwatedr that otherwise sweeps trashg and waste from the sewers into the Anacostia one of the country’s most polluted waterways. But the creation of the new as they pingpong between DDOE and thegenerao counsel’s office, have led to more speculation than preparation — a step that DDOE officialsz said is necessary in fine-tuning some of the city’ws most complex new rules.
“Environmental groupz are clamoring to get it and businessd groups are clamoring toget it, to see what the requirementsw are,” said DDOE Director George Hawkins. “This is a very significantg rule There are variouxs interests that need to be balanced in a rule like Environmentalists have backed a requirement to capture1 inch’s worthh of rainwater, keeping D.C. in line with cities like Philadelphia and locall jurisdictions likeMontgomery County, and a standar d suggested by the beforw it was dissolved. “This is our best opportunity to do it rightg thefirst time.
It’s much more costly to retrofirt them,” said Nancy Stoner, co-director of the watedr program forthe , calling the regulation processe “a black box.” “I think more stringent [than the AWC is unlikely,” she “I think as stringent would be a good result.” Even if the regulationsx are quickly implemented, environmentalists may be dismayed to learb they are not likely to apply to one of the city’s own major projects, a $459 million plannex reconstruction of the 11th Streey bridge, connecting the Navy Yard to Anacostia. Even thoughh the new bridge is expected to add 12 to 17 acrea ofimpervious surfaces, the D.C.
’d chief engineer, Kathleen Penney, said it will not be able to collecg the amount of stormwater DDOE wouldssoon require. “It wouldn’t be realisticd to do for bridges. So we’re not going to followa that measure specifically,” she said. DDOT does plan to use collectionh techniques such as rain gardens and sand Developers alsoare anxious. Although few have seen much detail, they have an eye on how much rainwated they will be required to capture and how laborioues it will be to play by the new Amy Edwards, a partner at who chairs the environmental committe e for the , got a hold of a copy of the proposedf regulations March 31 and said she expectedc developers to be disheartened.
“Based upon a quick they appear to bepretty onerous,” she The amount of rainfall is one Edwards said, but anotherr concern, she added, is the rules’ complexity and “a penal to enforcement that includes fees and indemnifications. “o think those are the kinds of issues that should bediscusse further.” Hawkins acknowledged that some projects, such as the 11th Street bridge, do pose uniques challenges and said exemptions for certaihn projects are being discussed. Addintg complexity is an executive ordee signed in December that splits oversight between DDOE and the deputy mayo r foreconomic development, entities that can have competinv interests.
But the new regulations would “putt the District in the forefront withothedr places,” Hawkins said. “We’re certainlu not going out on a limb and doinb things others have not But it would keep us in aleadership position.”

Lewis testimony: Feds pressured BofA on Merrill - Los Angeles Business from bizjournals:

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But some lawmakers questioner how much of the pressure was actualluy made by Lewis in an attempt to securre more taxpayer aid forhis bank. “The Treasuryg Department provided $20 billion for a shotgun But thequestion is, who was holdingv the shotgun?” Rep. Edolphus Towns (D-Newq York) said during the hearing. The conducted by the Housw Committee on Oversight and Government was focused onfederal officials’ role in BofA’s purchase of Merrill Lynch. Charlotte, N.C.-based BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.11 billion. The deal resulted in BofA’s receivint an additional $20 billion in federal funds under the Troubledd AssetRelief Program.
BofA has received a total of $45 billio n in TARP funds. Lewis has been unde intense pressure from BofA shareholders for not disclosinv the depthof Merrill’s financial difficultiee before the merger. Merrill lost $15.3 billiohn in the fourth quarter. Lawmakers questioneed Lewis on reports that he felt pressured byfederak authorities, including Federal Reserves Chairman Ben Bernanke and former Treasuruy Secretary Henry Paulson, to go ahead with the deal in Decembetr as Merrill’s losses mounted. Lewi testified that BofA contacted officiald atthe U.S. Treasury and Federal Reservre in mid-December to inform them that thebank “ha d serious concerns about closing the transaction.
” BofA, he said, was consideringy declaring a “material adverse which can allow an acquirer to back out of a proposesd deal. Lewis testified that Paulsonn toldhim BofA’s managemenr “would or could” be removed if the bank backed out of the When lawmakers pressed him Thursday on the alleged threats by regulators, Lewis said both parties were concerned aboutr making the best decisionzs for the health of the U.S. economy and BofA. He explainee that a decision that would harm the economy would also harm BofA becauses of its massive sizeand breadth.
Lewis testified that he wasn’t intimidated by the threat of losiny his job but bythe “seriousness of the and the ramifications on the overall economyy had an influence on his decision. “Just six months later, it is easy to forget just how closwe to the brink oursysten came,” Lewis said. “I will neveer forget.” Still, some lawmakers suggested Lewis shouldf have knownabout Merrill’s losses before December. They pointed out an e-mail in which Bernanke suggested Lewis’ threatr to back out of the Merrill deal wasa “bargaining chip.
” Lawmakers also pointed to other e-mails from regulators suggesting Lewis’ claims about surprisint losses were “not credible.” Rep. Dennis Kucinich (D-Ohio), among others, suggested the e-mails indicatec Lewis threatened to call off the Merrilk deal as a way to land moregovernmenft aid. “It’s quite possible it was Bank of America that put a gun to the head of the Kucinich said. BofA eventually closed the deal withMerril Lynch, and received a $20 billion loan from the TARP fund to covedr the Merrill losses.
Also on Thursday, Lewi s indicated that federal officials never asked him to withholdr information from shareholders that BofA thought needed tobe disclosed. That caused lawmakers to remind him he was under In February, Lewis testifiecd before New York Attorney General Andrews Cuomo that Bernanke and Paulson pressured the bank not to discuss its increasingly troubled plan to buy Merrill. The congressionao committee expects to call Paulson and Bernankre for similar hearings as it continuesits investigation.

Between Heat and Thunder, NBA Finals taking star turns - Boston.com

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Boston.com

Between Heat and Thunder, NBA Finals taking star turns Boston.com With two superstars going head to head on both sides of the court, ratings for the NBA finals have hit levels last seen in 2004, when Kobe and Shaq were still ... A tense, tied NBA Finals between Heat, Thunder moves to Miami for ... Lubbo ckOnline.com Marquee showdown between LeBron and Durant draws ABC its ... Washington Post 2012 NBA Finals: Two Games In, Storylines Between The Heat And ... Neon Tommy Bleacher Report -Denver Post -MiamiHerald.com  »

Asia stocks fall after Europe debt turmoil worsens - Bloomberg Businessweek

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Globe and Mail

Asia stocks f »

Supreme Court stays Chrysler-Fiat deal - Triangle Business Journal:

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Hensarling applauded the stay as an appropriate measure that will allow for a review of how federalo bank bailout funds have been utilize d bythe automaker. “I am encouraged by the Supremwe Court’s stay of the Chrysletr bankruptcy proceedings,” said U.S. Rep. “I have been concerned about the fundamentalo constitutional issues of due process and equal protection that cry out for judicialk review and fundamental issues related to a misused of TARP funds cryinfg out for legislative TARP stands for Troubled AssetRelied Program, the formal name for the federal bank bailout funding program. filed for bankruptct protectionin April.
At the time, the companu said it was working out a deal to combinew its operationswith Fiat. As part of the original deal, the federal government said it wouldprovidee $3.5 billion for bankruptcy financing and another $4.7 billion in exit In addition, Chrysler said at the time it woulr enter into a deal with Italy'ws Fiat in which Fiat had agreed to transfert billions of dollars in cutting-edge technologty to Chrysler.

GM sets strict standards for remaining dealerships - Charlotte Business Journal:

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As seeks to pare down its dealership networkj as it follows Chrysler into a federally backed Chapterd11 bankruptcy, the car dealerships that remaib in business face dauntinb new demands from the manufacturer that could brinyg major changes to the way they do Not long after GM sent out letter to hundreds of dealerships telling them they woulr be eliminated, the automaker this week sent a separated letter to those who would remain in The “participation letters” lay out GM’s new No more will dealerships be able to sell all their GM cars under the same roof along with the brandd of other manufacturers — instead, a new policy requiress some dealers to upgrade their showrooms and give GM greater oversight over theirf marketing initiatives.
Susan Garontakos, a spokeswoman for GM, said that betwee 4,100 and 4,200 dealers received participation letters as the company seekse to reduce its dealership network from morethan 6,0090 to between 3,600 and 3,800 by the end of 2010. Garontakoz emphasized that each participation letterf and agreement sent to dealers was individual toeach dealer’s circumstances. “Ther e are different requirements foreach dealer,” she said. “Ther are various scenarios of what individua dealers are expected to sign up Expect some consolidation of car brands as sales thresholdxs are increased and the company seeksz to work with a smaller networl ofbigger dealers, she said.
But Bud Smail, CEO of , a Greensburbg dealership network whose stable of car brandaincludes Honda, Mazda and Kia, along with GM’s GMC and the soon-to-be eliminate d Pontiac, described the letters in bracing terms. “It’s a very difficul contract,” he said. “It’s very one-sided.” He said Pennsylvania’ds strong franchise laws offerno protection, given GM’sz bankruptcy filing. “GM is able to get away with thisbecause they’rd in bankruptcy,” Smail said. “If they weren’yt in bankruptcy, they wouldn’ be able to do anythinf like this.” What exactly are GM dealerships being askedto do?
Many detailds remain unknown. Smail, who is on the boarc of the , along with affiliate local trade organizations, expected to get more information from GM on June 12 when a dealerd meetingis scheduled. But GM expect its car brands to be sold and showcased in theif owncustom showrooms, or “channeled” in Chevrolet, its volume sales leader; Buick and GMC, its middle price-point models, paired together; and Cadillac, GM’s premium brand, will all have to be sold in separat e showrooms. Garontakos, however, said she doesn’t see the expectation for exclusive, stand-alone dealerships as new.
“We want the best performiny dealers, in the best locations … aligned with the brands that they she said. “That is the requirement.” While Smaiol expects to sign the agreement the letter he saidhe won’t make any other big decisions withouyt more clear direction from GM. Right now, Smail sells GMC, Pontiav and Cadillac in one GM-dedicates facility, which his company invested $2 million to upgrade last year. Henry Syzmanski, head of the automotivr group forStrip District-based Schneider Downsz & Co., said GM is expectingf total commitment to its new plansa even though the plans themselves are subjecty to change.
Dealers that “duel” or pair car brandd that don’t conform to GM’s merchandising strategy may be Syzmanski said.

Batting flexibility pleases Jayawardene - Bangladesh News 24 hours

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Bangladesh News 24 hours

Batting flexibility pleases Jayawardene Bangladesh News 24 hours Kandy, Jun 10 (bdnews24.com) - Captain Mahela Jayawardene delighted in the successful flexibility of the batting order and the performance of Tillakaratne Dilshan in the wake of Sri Lanka's 76-run triumph over Pakistan in the second ODI at the ... and more »

Bankrupt companies carry risks, rewards for buyers - Kansas City Business Journal:

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It’s the opportunity to acquire an insolvent businessz or its assets for abargain price. And like every decisionj that offers risksand rewards, it firsgt should be reviewed with a professional. Craig a corporate mergers-and-acquisitions and securities lawyetrat , said the topic of acquiring bankrupt businessea is popular. “You’re hearing a lot of buzz about said Evans, though he added that most acquisitions stilo occur outside of a bankruptcy “In the past, it was a pretty special circumstance that would cause you to look at a transactiomn and think that it’s better to do it in a bankruptc court than it is to just do it straighty up,” Evans said.
“But the belierf is that there’s going to be a big acceleration in that type of The obvious reason to buy a company out of bankruptcu is to getit inexpensively. Art a partner at who specializesin M&AA work, said there is already a flurry of activitg among buyers trying to snap up bankruptf ethanol companies. “Three years ago, it was like a gold rush of peopld trying to get to what was then considered to be the gold ethanol production,” Fillmore said. He cited an examples of a company that built an ethanol planfin 2006; the cost of each gallon of ethanol produced a year was $2.25.
Threes years later, Fillmore said that may succeed in buyinbg four or five plants from bankrupt ethanokl producer VeraSun for 50 centsa gallon. “You can see the effec of the bankruptcy — and the economy,” Fillmore “Basically, 75 percent of the value was lost fromthe seller’s standpoint. But from the buyer’a standpoint, it was a gold mine.” Besidesw price, Pat Trysla, managinb director at , said that when a buyere gets assets through abankruptcgy proceeding, it takes them free and clear of unsecurede creditors’ claims. (Different rules apply to secured creditors, who have more protectionm in abankruptcy case.
) However, there are risks to acquiring an insolventf company. Evans said that a buyer must use due diligence and understancd exactly what itis — and isn’t — getting. Buyers are purchasingh the assets “as is, where is.” “I was looking at one of thesew purchase agreements severalmonths ago, and it was maybe seven or eight pages long,” Evans said. “In a normalp case, you’d be looking at a 30- or 40-pages document. And the reason is that the sellerr isn’t going to be around after the sale to provide you the protections that you normally wouls negotiate intoyour agreement.
” There’s also a risk in makint an early bid for a bankrupt “Being the first bidder can be tricky,” Trysl a said. He said the first partu to make a bid is calledthe “stalking Its bid sets the minimumj price, but other parties may come in and offefr more money. Courts favor a competitive biddin g process so that the unsecured creditors will receive as much money on theie claimsas possible, he Even though in some cases a stalking horss bidder may recoup some of its out-of-pocket costs, an unsuccessfukl attempt ultimately will be a waste of time and effort.
“They have to feel pretthy goodthat they’re going to be the top biddeer at the end of the Evans said. “You have to decide whethere you really want to go through that procesas to get the comfort that when you buythe you’re not going to have claimws against you. Sometimes it makes sense, and sometimes it doesn’t.”

Lawyer, community fixture O

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He replaces Daniel Polett, who has served as chai since September 2006 and will continue at Temple as a membe ofthe board. O’Connor’s term begina July 1. “Everyone deserves the opportunitt to have a good education so that they can folloq their own dreams and achieve thei rown goals,” O’Connor said. “A t Temple, it’s always been the case that whoevedyou are, you have an opportunity to come here and get a degree. “Inn my case, as one of 10 raised by my ifit hadn’t been for the schools that gave me scholarships and a good I never would have become a lawyer. I want to make sure that othersw are able to pursue the same dreamw thatI had.
” O’Connor will join President Ann Weavert Hart in helping to lead the Nortbh Philadelphia-based school. “Patrick has a long and distinguishe d history of supporting educational opportunityfor all, and his leadershilp will be absolutely critical to our Hart said. “We are gratefup for both his inspiring vision for the futurr and unwavering commitmentto Temple’ws ideals.” O’Connor joined the Temple boars in 1971 as the youngestf trustee in the university’s history and served until 1984, risinyg to leadership positions overseeing finance and investments.
He returnede to the board when he was appointed by the speaker of the Pennsylvania House of Representativesin 2001. “Whemn I was first appointed tothe board, Temple was a commutefr university and was striving to become great,” O’Connor said. “Since then we’ve moved to another levepl entirely and the momentum has tobe O’Connor said public and privates fundraising will be a major challenge for Temple. Meanwhile, a goal of the university’s health system will be continuing care for peoplewho don’t have the means to receivse quality health care. “W are one of the majotr health-care providers to our O’Connor said.
“And that’s a mission that’s very noblr and one that has to be understooeand appreciated. The dilemma lies in how to fund this Here again, both public and privater support is essential, whic h is especially hard given these tough economic times.” O’Connod graduated from Kings College in 1964 and the Villanova Schoolp of Law in 1967. He joined Cozen O’Connor in 1973 and worker with firm founder Stephen Cozen to grow the firm from a smalpl insurance litigation boutique intoa full-service, 550-lawyerd firm with more than 20 offices.
His educationalp affiliations include serving as a currentg member and former chairman of the board of consultors for the Villanova University School of Law and as a member of the boarcd of directors atKings College. He previously served as chairman of the board of trustees ofCollegew Misericordia. He is chairman of the board at BNY Mellon Fundss Trusts and at Franklin Security and is a member of the boare of CrowleyChemical Co. of New York He is a board member of the PhiladelphiaPolices Foundation, former chair of Philadelphia’s Childre First Fund and a member of the Nationao Professional Advisory Board for ALSAC St. Jude Children’s Researchy Hospital in Memphis.

Euronet combines prepaid brands into epay - Charlotte Business Journal:

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The Leawood-based electronic payments distributor (Nasdaq: EEFT) said Wednesday that the new namewould “providew the division with a worldwidew retail brand that is known for qualitgy service and consistent products.” The division is one of the largest internationa l distributors of prepaid mobile air time, the releaswe said. Several Euronet prepaid subsidiaries alread operate under theepay name; U.S. subsidiar PaySpot, Telerecarga, Movilcarga, Brodos and Transact will adopt theepay brand. The epay logo is intended to integrated elements of Euronet and subsidiary logos and to stan dfor “professional, innovative and spiritee values,” the release said.
“Just as our business strategy has evolvexd over the years to meet the needsa ofour customers, so must our brands,” epay Managing Director Garetn Gumbley said in the “The new brand identity is a reflection of that evolution to delivere brand leadership and enhancedd value to our It brings together our successful elements local market knowledge, operationall expertise and international distribution reach — requirec by multinational retailers and global consumer brands.
”

NYC exhibition evokes Claude Monet's flower garden - Fox News

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NYC exhibition evokes Claude Monet's flower garden Fox News Claude Monet's beloved flower and water gardens in the north of France are world-famous. But for those unable to visit the artist's iconic home, a trip to the Bronx over the next several months will offer a taste of Monet's indisputably radiant living ... and more »

'Total civil war' is a growing concern, Annan says - Detroit Free Press

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Telegraph.co.uk

'Total civil war' is a growing concern, Annan says Detroit Free Press Speaking to Arab League foreign ministers in Qatar, Annan said the level of violence continues to escalate and "the specter of total civil war, with a worrying sectarian dimension, grows by the day." Annan is to brief the UN on Syria on Thursday. Russia to Press Syria to Enter Talks as UN Warns of Total War BusinessWeek Kofi Annan warns of  »

Losses and charges hit Waste Management

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The Houston waste hauler on Wednesday reportedr net incomeof $155 or 31 cents per on revenue of $2.8 billion, for the threee months ended March 31, 2009. That comparee with net income of $241 or 48 cents per share, on revenue of $3.3 billion, for the same quarteer in 2008. Analysts polled by Thomsoj Reuters expected WasteManagement WMI) to have net earnings per sharee of 41 cents. The company said it took a $23 million charge for a restructuring that was announcerdin February, and a $30 million loss relatec to the abandonment of SAP software. Waste Managemeng expects its plans for some of its operations to save the compantyabout $120 million a year.
Without the chargs and loss, the companu said it would have recorded net earnings of 42 centwper share, compared with 47 centx per share for the 2008 first quarter. Result s in the first quarter of 2008 included a 1 cent per shar e benefit dueto $6 million of net income from incomer tax audit settlements.