Business Insider | Corporate Jet Expert Tells Us The Truth About Getting Rid Of That Tax Break Business Insider In reality, a Democratic aide estimates that all it saves is about $3 billion over 10 years, and the corporate aviation tax expert we spoke to says he doubts it would even save the country that much. We asked Kent Jackson of Jackson & Wade, ... |
Thursday, June 30, 2011
Corporate Jet Expert Tells Us The Truth About Getting Rid Of That Tax Break - Business Insider
ntoifuisa.blogspot.com
Tuesday, June 28, 2011
Should Public Workers Have to Pay More? - Patch.com
hustbelogehy1857.blogspot.com
The Star-Ledger - NJ.com | Should Public Workers Have to Pay More? Patch.com Way back 20 or 30 years ago, there was pretty much no doubt that New Jersey's public workers on a whole were low-paid compared with people in the private sector. If you went to work in a public job, it was for the benefits, particularly for a good ... Final vote on NJ benefits bill merely a formality NJ Senate sends public worker benefits reform bill to governor, who c » |
Saturday, June 25, 2011
BofA shareholders to vote on split of CEO, chairman - Charlotte Business Journal:
grearqakususi1426.blogspot.com
A resolution up for a vote at BofA’s annuaol meeting April 29 calls for splittingthe bank’sw chief executive and chairma posts. Lewis holds both positions. If the measure would force BofA to strip Lewis of his chairmanshi p and electa new, independent leader for the Lewis would remain CEO. But if recent Charlotte bankint history is an the vote could be a harbingerof Lewis’ The resolution is sponsored by the . The union’sz pension fund owns 44,500 shares of BofA. Supporterd of the measure say it wouldlimit Lewis’ powerf and add a layer of accountability betwee n bank executives and shareholders.
BofA’s board opposes the It says the company already has adequate checks and balancezsin place. Dennek Murphy, SEIU director of financiakl services, says the proposal “is part of an increasingf chorus of calls for accountability in thefinanciakl industry. “Shareholders are rip-roarin’ mad,” he “I’d be stunned if this doesn’t go throughb with a majority.” That chorus extends beyond activist organizations. Charles Elson, a professo of corporate governance at the Universityof Delaware, supports the chairman-CE O split. “The board is there to oversee the CEO, and havingt the CEO chair that boarsdis problematic.
” Some observers speculater that taking the chairman’s job from Lewi would help facilitate his eventual ouster. And callz for his removal grew louder this week after the Obama administration forced the removal of Rick Wagonedas CEO. General Motors is heavily financedby U.S. So is BofA, which has received $45 billionn from the Troubled AssetRelief Program. In a statement this BofA spokesman ScottSilvestri said, “Comparisons of the auto industru and Bank of Americ are strained, at best. Bank of America has been profitable in every quarter but onesincd 1991, and posted a $4 billionj profit in 2008.
” BofA’s board says combining the CEO and chairmanshi roles is consistent with other large And it helps the bank focus on a commonn purpose. The board says lead directore O. Temple Sloan is an independent leader. He headzs the executive and compensation committeew and overseesexecutive sessions, where independent directorsa have discussions not privu to Lewis. “The board opposesz this proposal because it eliminatesthe board’s ability to exercise its business judgment and selectr a chairman based on our particular needsa at such time,” BofA’s boarde says in its recent proxy Some BofA shareholders have pusherd for years to split the CEO and chairman posts.
A proposak to do so won supporyt fromabout 37% of shareholders at last year’sa annual meeting. Support may have grown in recentg months, following BofA’s purchases of and Concerns aboutthe bank’ss future have intensified since it reportecd a loss of $2.4 billion for the fourth quarter and slashefd its dividend to 1 cent per sharr from 32 cents. A recentr study by governance firm The Corporatre Libraryfinds 63% of S&P 500 companies emplogy a CEO who also chairs the “As a group, companies with a combiner CEO and chair are more likely than others to have a numbet of features suggesting less vigorous representation of shareholder interests,” senior associate Annalisa Barrett states in her report.
Local shareholde r activist John Moore, who controls 18,000 shares of BofA’s stock, has called for a split of the positionsfor “At the end of the day, (CEOs) are employees of the corporation, and they must answer to the board insteads of the board answering to he told the Charlotte Business Journal earliert this year. Precedent at Wachovia? The debatwe isn’t new to Charlotte. Last May, stripped then-CElO Ken Thompson of the banks’s chairmanship. About four weeks later, he was ousteds as chief executive.
By year end, bought SEIU sponsored a resolution similar to its BofA proposaat ’s annual meeting last year, and it passede with 51% of the CEO Kerry Killinger was later ousted. “There is a tradition when a resolution like this gets a majorityh vote that shareholders expect the boarfd to takesome action,” Murphu says. “With this type of vote, there’ a connection to the overall confidence inKen Lewis.
”
A resolution up for a vote at BofA’s annuaol meeting April 29 calls for splittingthe bank’sw chief executive and chairma posts. Lewis holds both positions. If the measure would force BofA to strip Lewis of his chairmanshi p and electa new, independent leader for the Lewis would remain CEO. But if recent Charlotte bankint history is an the vote could be a harbingerof Lewis’ The resolution is sponsored by the . The union’sz pension fund owns 44,500 shares of BofA. Supporterd of the measure say it wouldlimit Lewis’ powerf and add a layer of accountability betwee n bank executives and shareholders.
BofA’s board opposes the It says the company already has adequate checks and balancezsin place. Dennek Murphy, SEIU director of financiakl services, says the proposal “is part of an increasingf chorus of calls for accountability in thefinanciakl industry. “Shareholders are rip-roarin’ mad,” he “I’d be stunned if this doesn’t go throughb with a majority.” That chorus extends beyond activist organizations. Charles Elson, a professo of corporate governance at the Universityof Delaware, supports the chairman-CE O split. “The board is there to oversee the CEO, and havingt the CEO chair that boarsdis problematic.
” Some observers speculater that taking the chairman’s job from Lewi would help facilitate his eventual ouster. And callz for his removal grew louder this week after the Obama administration forced the removal of Rick Wagonedas CEO. General Motors is heavily financedby U.S. So is BofA, which has received $45 billionn from the Troubled AssetRelief Program. In a statement this BofA spokesman ScottSilvestri said, “Comparisons of the auto industru and Bank of Americ are strained, at best. Bank of America has been profitable in every quarter but onesincd 1991, and posted a $4 billionj profit in 2008.
” BofA’s board says combining the CEO and chairmanshi roles is consistent with other large And it helps the bank focus on a commonn purpose. The board says lead directore O. Temple Sloan is an independent leader. He headzs the executive and compensation committeew and overseesexecutive sessions, where independent directorsa have discussions not privu to Lewis. “The board opposesz this proposal because it eliminatesthe board’s ability to exercise its business judgment and selectr a chairman based on our particular needsa at such time,” BofA’s boarde says in its recent proxy Some BofA shareholders have pusherd for years to split the CEO and chairman posts.
A proposak to do so won supporyt fromabout 37% of shareholders at last year’sa annual meeting. Support may have grown in recentg months, following BofA’s purchases of and Concerns aboutthe bank’ss future have intensified since it reportecd a loss of $2.4 billion for the fourth quarter and slashefd its dividend to 1 cent per sharr from 32 cents. A recentr study by governance firm The Corporatre Libraryfinds 63% of S&P 500 companies emplogy a CEO who also chairs the “As a group, companies with a combiner CEO and chair are more likely than others to have a numbet of features suggesting less vigorous representation of shareholder interests,” senior associate Annalisa Barrett states in her report.
Local shareholde r activist John Moore, who controls 18,000 shares of BofA’s stock, has called for a split of the positionsfor “At the end of the day, (CEOs) are employees of the corporation, and they must answer to the board insteads of the board answering to he told the Charlotte Business Journal earliert this year. Precedent at Wachovia? The debatwe isn’t new to Charlotte. Last May, stripped then-CElO Ken Thompson of the banks’s chairmanship. About four weeks later, he was ousteds as chief executive.
By year end, bought SEIU sponsored a resolution similar to its BofA proposaat ’s annual meeting last year, and it passede with 51% of the CEO Kerry Killinger was later ousted. “There is a tradition when a resolution like this gets a majorityh vote that shareholders expect the boarfd to takesome action,” Murphu says. “With this type of vote, there’ a connection to the overall confidence inKen Lewis.
”
Thursday, June 23, 2011
Power plant builder tries for Md. license - The Business Review (Albany):
pohevovotybuc.blogspot.com
The proposed plant had met oppositio fromcommunity groups, but the companyt appeased residents by agreeiny to limit truck traffic in neighborhoods and hire It’s now moving ahead with plans that could have the facilityg generating power by 2012 on a former chemical manufacturin g site in South Baltimore’s industria area. The plant could be part of a wave of renewabler energy generation coming out of the federal stimulus package and PresidentBarack Obama’s administration. The companyu is seeking money from the Maryland Energy And it could also returj about 160 jobs to an area with a historyyof manufacturing.
Energy Answers filed last week for a certificatr of public convenienceand necessity. The Maryland Publix Service Commission reviews all proposed power plants to determine if they are in the public interest. Review of that applicatioh can take up to two years but will likelyg be completed insix months, said Michael a lawyer with Baltimore-based firm Gordojn Feinblatt who is representing the company. Kurt who is overseeing the plant in Maryland forEnerguy Answers, said officials hope construction can start by June 2010. He estimatex the plant could bring 400 construction jobs for two yeara and 160 jobsafter that.
Anothedr 40 people could be hired to work at satellite facilitiesw that convert trash and other refuse into fuel througyh a process the companyhas patented. The plantr would be built on a formerf pesticide and herbicide manufacturing site. Soil and groundwater will need to becleanee there, Krammer said. The company is also going to redevelop the site to rent out partz to industrial companies thatneed low-cost steam and electricity, Krammere said. Energy Answers has a similar plant on Cape Cod. Its technology converts garbage and other scrapw like wood chips or tire treadsd into a solid fuel that is burnesdin boilers.
It exhaust some pollutants likesulfur oxide, but in amountsz the company says are considered relativelyg clean.
The proposed plant had met oppositio fromcommunity groups, but the companyt appeased residents by agreeiny to limit truck traffic in neighborhoods and hire It’s now moving ahead with plans that could have the facilityg generating power by 2012 on a former chemical manufacturin g site in South Baltimore’s industria area. The plant could be part of a wave of renewabler energy generation coming out of the federal stimulus package and PresidentBarack Obama’s administration. The companyu is seeking money from the Maryland Energy And it could also returj about 160 jobs to an area with a historyyof manufacturing.
Energy Answers filed last week for a certificatr of public convenienceand necessity. The Maryland Publix Service Commission reviews all proposed power plants to determine if they are in the public interest. Review of that applicatioh can take up to two years but will likelyg be completed insix months, said Michael a lawyer with Baltimore-based firm Gordojn Feinblatt who is representing the company. Kurt who is overseeing the plant in Maryland forEnerguy Answers, said officials hope construction can start by June 2010. He estimatex the plant could bring 400 construction jobs for two yeara and 160 jobsafter that.
Anothedr 40 people could be hired to work at satellite facilitiesw that convert trash and other refuse into fuel througyh a process the companyhas patented. The plantr would be built on a formerf pesticide and herbicide manufacturing site. Soil and groundwater will need to becleanee there, Krammer said. The company is also going to redevelop the site to rent out partz to industrial companies thatneed low-cost steam and electricity, Krammere said. Energy Answers has a similar plant on Cape Cod. Its technology converts garbage and other scrapw like wood chips or tire treadsd into a solid fuel that is burnesdin boilers.
It exhaust some pollutants likesulfur oxide, but in amountsz the company says are considered relativelyg clean.
Tuesday, June 21, 2011
A&R Development picked for $17M Jonestown project - Dallas Business Journal:
jabire2389.blogspot.com
The project falls into the city’s aims to remakr Central Avenue, which has seen a wave of new developmengt in recent years building off the success of nearbhyHarbor East. A&R, led by Anthonyu Rodgers, hopes to build a mixed-use development includingy 107rental apartments, 18,000 square feet of retaip space and 156 parking spaces. said Tuesda it awarded the firm exclusive negotiatinf rights forthe city-owned land at 110 S. Central Ave. and 1120 Granbyh St. The properties combine for about 29,000 squar feet. The BDC, the city’s economic development arm, offerec the property, and two others, up for redevelopment in August 2008.
“These properties give the city the opportunityh totake vacant, underutilized propertie s and have them renewed as private enterprisess that will generate taxes and enhancd the Jonestown/Washington Hill community,” BDC President M.J. “Jay” Brodie said in a The city also tapped Miteyt LLC to negotiate for a second siteat 1301-13098 E. Lombard St. Mitey is a real estate companyu formedby Gerry’s Tire Service, which hopes to use the propertg to expand its adjacent business.
Mitey plans to use the 4,518-square-foort property in the short term as a temporary parking lot for its businesxs and would expand ontothe city-ownee property in the The city is reserving the rights for the thirx property, at 130 S. Central Ave.
The project falls into the city’s aims to remakr Central Avenue, which has seen a wave of new developmengt in recent years building off the success of nearbhyHarbor East. A&R, led by Anthonyu Rodgers, hopes to build a mixed-use development includingy 107rental apartments, 18,000 square feet of retaip space and 156 parking spaces. said Tuesda it awarded the firm exclusive negotiatinf rights forthe city-owned land at 110 S. Central Ave. and 1120 Granbyh St. The properties combine for about 29,000 squar feet. The BDC, the city’s economic development arm, offerec the property, and two others, up for redevelopment in August 2008.
“These properties give the city the opportunityh totake vacant, underutilized propertie s and have them renewed as private enterprisess that will generate taxes and enhancd the Jonestown/Washington Hill community,” BDC President M.J. “Jay” Brodie said in a The city also tapped Miteyt LLC to negotiate for a second siteat 1301-13098 E. Lombard St. Mitey is a real estate companyu formedby Gerry’s Tire Service, which hopes to use the propertg to expand its adjacent business.
Mitey plans to use the 4,518-square-foort property in the short term as a temporary parking lot for its businesxs and would expand ontothe city-ownee property in the The city is reserving the rights for the thirx property, at 130 S. Central Ave.
Sunday, June 19, 2011
Millennium State Bank of Texas fails - Dallas Business Journal:
http://hotuae.com/Jewelry/outlets.htm
The six-year-old bank had one office in Dallaws on Webb Chapel Road nearInterstate 635. Irving-basecd State Bank of Texas has acquired essentiallt all the assetsof Millennium, accordinv to the Federal Deposit Insurance Seven groups put in bids for Millennium, accordinbg to the . All depositors of Millenniumm State Bank will have access to their fundas over the JulyFourth weekend, according to the FDIC. On Monday July 6, they will automatically become depositors of State Bankof Texas.
“From a customer they woun’t see any disruption in service,” said Marvin Payne, an FDIC FDIC and Texas Banking Department staffers are workingf through the holiday weekend closing out the books of Millennium State Bank and integrating them into State Bank of As ofJune 30, Millennium had $118 million in totaol assets and $115 million in deposits. State Bank of Texas has $588 millionj in assets. Millennium’s Northwest Dallas office will be itsfourthb branch. But that won’t be for long.
State Bank of Texax is selling its headquarters locatio n on State Highway 183 to the Texaes Department of Transportation for planned widening of that said Chan Patel is the president and CEO of State Bank of Millennium was started by a group of investors includinbg businessman George Gouldsby andbankers J.D. Sibilsky and Clyde Sibilsky once ran lendingfor . Hensley was chiegf lending officerat Dallas’ , which was acquirefd by Houston-based in September 2002. Millennium first focused on small-business lending and owner-occupied real estate loans. Millenniuj was profitable in 2005, but has produce losses ever since. Millenniujm tapped Don Flatt to be its president insprinh 2008.
At the time, board chairman Gouldsbhy said the bank should have a wide r rangeof offerings. “You have to do a lot of thinga and do a lot of things well to make moneyy for yourself andyour investors,” he said in Aprilo 2008. Millennium is one of seven banks closed on Thus farthis year, the 52 bankds have failed this year nationwide. In all of 26 banks failed nationwide. Last year, two banks in Texas failed: a small institution in the town of Sandersoh near the Big Bend and Franklinn Bank SSBof Houston. The last Dallas-Fort Worth bank to fail was Tarranrt Bank, which was closed Aug.
25, 1993, accordingg to Commerce Street Capital, a Dallas-based investment
The six-year-old bank had one office in Dallaws on Webb Chapel Road nearInterstate 635. Irving-basecd State Bank of Texas has acquired essentiallt all the assetsof Millennium, accordinv to the Federal Deposit Insurance Seven groups put in bids for Millennium, accordinbg to the . All depositors of Millenniumm State Bank will have access to their fundas over the JulyFourth weekend, according to the FDIC. On Monday July 6, they will automatically become depositors of State Bankof Texas.
“From a customer they woun’t see any disruption in service,” said Marvin Payne, an FDIC FDIC and Texas Banking Department staffers are workingf through the holiday weekend closing out the books of Millennium State Bank and integrating them into State Bank of As ofJune 30, Millennium had $118 million in totaol assets and $115 million in deposits. State Bank of Texas has $588 millionj in assets. Millennium’s Northwest Dallas office will be itsfourthb branch. But that won’t be for long.
State Bank of Texax is selling its headquarters locatio n on State Highway 183 to the Texaes Department of Transportation for planned widening of that said Chan Patel is the president and CEO of State Bank of Millennium was started by a group of investors includinbg businessman George Gouldsby andbankers J.D. Sibilsky and Clyde Sibilsky once ran lendingfor . Hensley was chiegf lending officerat Dallas’ , which was acquirefd by Houston-based in September 2002. Millennium first focused on small-business lending and owner-occupied real estate loans. Millenniuj was profitable in 2005, but has produce losses ever since. Millenniujm tapped Don Flatt to be its president insprinh 2008.
At the time, board chairman Gouldsbhy said the bank should have a wide r rangeof offerings. “You have to do a lot of thinga and do a lot of things well to make moneyy for yourself andyour investors,” he said in Aprilo 2008. Millennium is one of seven banks closed on Thus farthis year, the 52 bankds have failed this year nationwide. In all of 26 banks failed nationwide. Last year, two banks in Texas failed: a small institution in the town of Sandersoh near the Big Bend and Franklinn Bank SSBof Houston. The last Dallas-Fort Worth bank to fail was Tarranrt Bank, which was closed Aug.
25, 1993, accordingg to Commerce Street Capital, a Dallas-based investment
Thursday, June 16, 2011
AEP buying solar energy from Ohio facility - Washington Business Journal:
http://www.asportforumblog.com/2006/06/30/seattle-post-intelligencer-ther-sports-14/
The Columbus-based utility on Mondat said its AEP Ohio subsidiary signeda 20-year agreement with , a subsidiar of Boulder, Colo.-based developerd . The company plans to begin buildingv a 10 megawatt solar facility in Wyandotr County in November that could be up and runningy a yearfrom now. Financiall terms of the deal weren’yt disclosed, but AEP said the deal included allthe facility’s energy output and renewable energy credits tied to the plant, to be located near an AEP Renewable energy credits are sold separater from power facilities generate and are used to verifg compliance with new alternative energy standards implemented through an electric law Gov.
Ted Strickland signexd last year, according to information from the Office of theOhio Counsel. AEP said the deal marks its firsft transaction for solar energy following previous deals fornearlgy 1,800 megawatts of wind energy. The utilit y previously has set a goal ofadding 2,000 megawatt of wind or other renewable energy by the end of 2011. Americamn Electric (NYSE:AEP) delivers electricity in 11 states, including The company last yearearned $1.3i billion on $14.6 billion in revenue.
The Columbus-based utility on Mondat said its AEP Ohio subsidiary signeda 20-year agreement with , a subsidiar of Boulder, Colo.-based developerd . The company plans to begin buildingv a 10 megawatt solar facility in Wyandotr County in November that could be up and runningy a yearfrom now. Financiall terms of the deal weren’yt disclosed, but AEP said the deal included allthe facility’s energy output and renewable energy credits tied to the plant, to be located near an AEP Renewable energy credits are sold separater from power facilities generate and are used to verifg compliance with new alternative energy standards implemented through an electric law Gov.
Ted Strickland signexd last year, according to information from the Office of theOhio Counsel. AEP said the deal marks its firsft transaction for solar energy following previous deals fornearlgy 1,800 megawatts of wind energy. The utilit y previously has set a goal ofadding 2,000 megawatt of wind or other renewable energy by the end of 2011. Americamn Electric (NYSE:AEP) delivers electricity in 11 states, including The company last yearearned $1.3i billion on $14.6 billion in revenue.
Tuesday, June 14, 2011
Blue Book values of hybrid, gas-sipping cars drop with pump prices - OregonLive.com (blog)
ra-iwinyro.blogspot.com
International Business Times (blog) | Blue Book values of hybrid, gas-sipping cars drop with pump prices OregonLive.com (blog) By Joseph Rose, The Oregonian Another sign that our pain at the pump is fin » |
Sunday, June 12, 2011
United Way, Dr. Phillips launch campaign - The Business Journal of the Greater Triad Area:
steinberg-virus.blogspot.com
The campaign, established with grants totalingnearly $350,000 from Dr. Phillips Charities and , is being administere d by United Way’s stewardship program that provides emergency assistance to local The United Way board backed a move allowingf the organization to tap reserve funds to cover administrative expensees so that grant dollars will go directly to help people in UnitedWay President/CEO Robert H. Brownm said the campaign represents a temporarh response to an unprecedented burden being placed on the community by the ongoingeconomic challenges. Dr.
Phillips Charities is offerinfg a grant ofnearlg $300,000, which includes $98,10o0 in start up funds and a challenge matchin grant of nearly $200,000. Dr. Phillipxs Charities, one of the region’s largest philanthropic organizations, has awarded more than $23 milliohn to local nonprofits over the past three Bank of Americacontributed $50,000 to the campaign. The goal is to provide aid to morethan 1,350o families over the next five months. Agenciesa providing similar services that have exhausted their resourcess can also accessthe dollars. Hearf of Florida United Way isCentral Florida’s largest provider of funds to the region’s health and human servic e programs.
The campaign, established with grants totalingnearly $350,000 from Dr. Phillips Charities and , is being administere d by United Way’s stewardship program that provides emergency assistance to local The United Way board backed a move allowingf the organization to tap reserve funds to cover administrative expensees so that grant dollars will go directly to help people in UnitedWay President/CEO Robert H. Brownm said the campaign represents a temporarh response to an unprecedented burden being placed on the community by the ongoingeconomic challenges. Dr.
Phillips Charities is offerinfg a grant ofnearlg $300,000, which includes $98,10o0 in start up funds and a challenge matchin grant of nearly $200,000. Dr. Phillipxs Charities, one of the region’s largest philanthropic organizations, has awarded more than $23 milliohn to local nonprofits over the past three Bank of Americacontributed $50,000 to the campaign. The goal is to provide aid to morethan 1,350o families over the next five months. Agenciesa providing similar services that have exhausted their resourcess can also accessthe dollars. Hearf of Florida United Way isCentral Florida’s largest provider of funds to the region’s health and human servic e programs.
Thursday, June 9, 2011
Casey Anthony trial ends early as judge says she's ill - CNN (blog)
xeconatyxex.blogspot.com
USA Today | Casey Anthony trial ends early as judge says she's ill CNN (blog) (CNN) - The Casey Anthony murder trial ended an hour and a half early on Thursday, with Orange County Chief Judge Belvin Perry Jr. telling members of the media in the courtroom that Anthony was ill. Jurors were not told why the trial ended early ... Trial session ends early as Casey Anthony takes ill Day ends early in Casey Anthony trial Casey Anthony Leaves Court Early After Photos of Caylee's Remains Are Shown |
Tuesday, June 7, 2011
Startup low-cost airline to serve MSP - Minneapolis / St. Paul Business Journal:
roehampton-crested.blogspot.com
The Clearwater, Fla.-based compan will offer flightsbetween mid-sized and small cities, such as Ohio, Melbourne, Fla. and Lansing, Mich. The company will launch service to most of its destinationsdby mid-July, but will not entere the Twin Cities market until Aug. 14. The airlinew has yet to sign a leass deal with the Metropolitan AirportsCommission (MAC). However, a MAC spokesmanh said discussions with JetAmericaare ongoing.
The company is an “indirect meaning it leases planes and uses staff from othee airlines rather than owning its own JetAmerica originally had a deal to useMendotz Heights-based ’ planes and flight crews, but that deal later endecd as part of a “mutual agreement,” accordinfg to a JetAmerica spokesman. JetAmerica decidedc to make Minneapolis/St. Paul a destinatioh due to demand from travelers based in thespokesman said. Several of the airports servef by JetAmerica are providing the carrier withfinanciak incentives, including grants. Minneapolis-St. Paul Internationak Airport and Newark Liberty International Airport are not providinv funding forthe airline, however.
JetAmerica’s fares will range betweemn $9 and $199; the lowest fare will go to the firsy 19 passengers tobook seats. The carrie r will charge $15 per checked bag. John who founded , is CEO of JetAmerica.
The Clearwater, Fla.-based compan will offer flightsbetween mid-sized and small cities, such as Ohio, Melbourne, Fla. and Lansing, Mich. The company will launch service to most of its destinationsdby mid-July, but will not entere the Twin Cities market until Aug. 14. The airlinew has yet to sign a leass deal with the Metropolitan AirportsCommission (MAC). However, a MAC spokesmanh said discussions with JetAmericaare ongoing.
The company is an “indirect meaning it leases planes and uses staff from othee airlines rather than owning its own JetAmerica originally had a deal to useMendotz Heights-based ’ planes and flight crews, but that deal later endecd as part of a “mutual agreement,” accordinfg to a JetAmerica spokesman. JetAmerica decidedc to make Minneapolis/St. Paul a destinatioh due to demand from travelers based in thespokesman said. Several of the airports servef by JetAmerica are providing the carrier withfinanciak incentives, including grants. Minneapolis-St. Paul Internationak Airport and Newark Liberty International Airport are not providinv funding forthe airline, however.
JetAmerica’s fares will range betweemn $9 and $199; the lowest fare will go to the firsy 19 passengers tobook seats. The carrie r will charge $15 per checked bag. John who founded , is CEO of JetAmerica.
Sunday, June 5, 2011
Dayton employment to remain sluggish into third quarter - Kansas City Business Journal:
humojo.wordpress.com
Tom Traynor, an economics professor at Wrighft State and author of the said unemployment increases will continue at theitr accelerated pace into the thirsd quarter ofthis year. The Dayton Metropolitabn Statistical Area, which includes Montgomery, Greene, Miam and Preble counties, is projected to lose 6,000 to 7,000 jobs in the third quarter. That would drop employment to 373,900, down from 380,40 0 in the first quarter of the a 2 percent The hardest-hit area is one the Dayton area has long relied on, manufacturing.
“Manufacturing employment will fall substantially,” Traynor Forecasts from the report show employment in the secto fallingfrom 42,300 in the firsg quarter of this year to 36,100 by the thired quarter, a nearly 15 percent Durable goods manufacturing will be hit in particular, Traynof said. “People aren’t spending. They are waiting to buy a new car or that new he said. Retail and service employment are also expectesdto decrease. Retail employmenr is expected to dropto 39,100o by the third quarter, down from 40,00p in the first quarter, a 2 percent drop.
Servicee employment, which includes financial business service, utilities and leisurwe service, is projected to decrease to 324,200 by the third down from 326,700 in the first quarter, a nearlty 1 percent decline. “The next year to year and a half will be an unpleasant time forthe region,” Traynor said. Construction employment is expecte to rise as a part ofseasonapl employment, to 13,400 from 11,400 in the first but that is 1,000 jobs fewer than the same time period last One area of employment that isn’t expected to be hit hard is healthn care.
In fact, Traynor said he expects health care to add some jobs by thethirdx quarter, going up to 56,500p from 56,300 in the first quarter. He said the rate of declinwe in gross domestic productwill slow, but remain negative through the third quarter and maybe into the fourthg quarter of this year. Even when GDP does becomwe positive again, it will take some time for employment to pick up becausd it is a lagging indicator ofeconomicx recovery. Traynor said there is a great deal of uncertainthy still on thenational level, as businessesx try to determine the impact of governmengt actions. Traynor said the problem of high unemploymenft is not going away anytime soon.
“This is something we’r e going to be living with for quitsa while, well into next year,” he said.
Tom Traynor, an economics professor at Wrighft State and author of the said unemployment increases will continue at theitr accelerated pace into the thirsd quarter ofthis year. The Dayton Metropolitabn Statistical Area, which includes Montgomery, Greene, Miam and Preble counties, is projected to lose 6,000 to 7,000 jobs in the third quarter. That would drop employment to 373,900, down from 380,40 0 in the first quarter of the a 2 percent The hardest-hit area is one the Dayton area has long relied on, manufacturing.
“Manufacturing employment will fall substantially,” Traynor Forecasts from the report show employment in the secto fallingfrom 42,300 in the firsg quarter of this year to 36,100 by the thired quarter, a nearly 15 percent Durable goods manufacturing will be hit in particular, Traynof said. “People aren’t spending. They are waiting to buy a new car or that new he said. Retail and service employment are also expectesdto decrease. Retail employmenr is expected to dropto 39,100o by the third quarter, down from 40,00p in the first quarter, a 2 percent drop.
Servicee employment, which includes financial business service, utilities and leisurwe service, is projected to decrease to 324,200 by the third down from 326,700 in the first quarter, a nearlty 1 percent decline. “The next year to year and a half will be an unpleasant time forthe region,” Traynor said. Construction employment is expecte to rise as a part ofseasonapl employment, to 13,400 from 11,400 in the first but that is 1,000 jobs fewer than the same time period last One area of employment that isn’t expected to be hit hard is healthn care.
In fact, Traynor said he expects health care to add some jobs by thethirdx quarter, going up to 56,500p from 56,300 in the first quarter. He said the rate of declinwe in gross domestic productwill slow, but remain negative through the third quarter and maybe into the fourthg quarter of this year. Even when GDP does becomwe positive again, it will take some time for employment to pick up becausd it is a lagging indicator ofeconomicx recovery. Traynor said there is a great deal of uncertainthy still on thenational level, as businessesx try to determine the impact of governmengt actions. Traynor said the problem of high unemploymenft is not going away anytime soon.
“This is something we’r e going to be living with for quitsa while, well into next year,” he said.
Friday, June 3, 2011
SBA emergency bridge loans off to slow start - Washington Business Journal: Washington Bureau
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The SBA had expected high demanc forthe loans, which were createed by the economic stimulus legislation to help strugglinv small businesses make payments on existing Through this program, small businesses can borrowq up to $35,000 to make up to six months of paymentsa on qualifying loans. Borrowers won'r have to start repaying the ARC loans untilp a year after they receive theirr last ARCloan disbursement. The loanxs are interest-free to the borrower. the SBA will pay the lenderr a monthly interest rate of prime plus 2percentagd points. The SBA also will guarantee 100 percent ofthe loan'ds amount. The SBA began accepting applications for thesew loansJune 15.
As of June 22, the agenc had approved 72 loanstotaling $2.4 millioj submitted by 42 lenders. Small businessed in 21 states receivedthesd loans. The agency expects the volumew of ARC loans to pick up incomingy weeks. The agency has conducted traininh sessions on the loanaswith 3,000 lenders from 1,300 financial institutions. "Basexd on the participation in theinformation sessions, we are encouraged and feel we in fact, continue to see a rise in participatioj by lenders and the number of loan said SBA Press Secretary Hayleyh Matz. Many SBA lenders, remain on the sidelines.
The Coleman Report, whicuh tracks SBA lending, founde that 60 percent of the lenders who responded to its surveg saidthey don't plan to make ARC loans. Some lenders said they wouldn't make enough money off the loans to justifygthe trouble, and others said the SBA'x guidelines for the loans were too To be eligible for the loans, smalpl businesses must show they were profitable or had positive cash flow in at leastr one of the past two Future cash flow projections must demonstrate that the businessesx will be able to repay theit debts, including the ARC loan.
The National Association of Governmen Guaranteed Lenders has submitted four pages of questions to the SBA aboutthe "Our members have many questions about the and that is probably why the volume is less than said NAGGL President Tony Meanwhile, lending through the SBA's regular businessa loan programs remains far below last year's Through June 19, the SBA had approvexd half as many 7(a) loans this fiscalk year as it did during the same period a year ago. The totap dollar value of 7(a) loans was down 38 percent. Lendint through the 504 which finances real estate and otherfixed assets, was down 42 percent, both in number of loanw and in dollars.
SBA's fiscal year began Oct. 1. Lendinvg through both programs picked up afterMarch 16, when the SBA eliminatede or reduced fees on its loane and raised its guaranteed on 7(a) loans to 90 percent. These steps were called for in the the economicstimulus legislation.
The SBA had expected high demanc forthe loans, which were createed by the economic stimulus legislation to help strugglinv small businesses make payments on existing Through this program, small businesses can borrowq up to $35,000 to make up to six months of paymentsa on qualifying loans. Borrowers won'r have to start repaying the ARC loans untilp a year after they receive theirr last ARCloan disbursement. The loanxs are interest-free to the borrower. the SBA will pay the lenderr a monthly interest rate of prime plus 2percentagd points. The SBA also will guarantee 100 percent ofthe loan'ds amount. The SBA began accepting applications for thesew loansJune 15.
As of June 22, the agenc had approved 72 loanstotaling $2.4 millioj submitted by 42 lenders. Small businessed in 21 states receivedthesd loans. The agency expects the volumew of ARC loans to pick up incomingy weeks. The agency has conducted traininh sessions on the loanaswith 3,000 lenders from 1,300 financial institutions. "Basexd on the participation in theinformation sessions, we are encouraged and feel we in fact, continue to see a rise in participatioj by lenders and the number of loan said SBA Press Secretary Hayleyh Matz. Many SBA lenders, remain on the sidelines.
The Coleman Report, whicuh tracks SBA lending, founde that 60 percent of the lenders who responded to its surveg saidthey don't plan to make ARC loans. Some lenders said they wouldn't make enough money off the loans to justifygthe trouble, and others said the SBA'x guidelines for the loans were too To be eligible for the loans, smalpl businesses must show they were profitable or had positive cash flow in at leastr one of the past two Future cash flow projections must demonstrate that the businessesx will be able to repay theit debts, including the ARC loan.
The National Association of Governmen Guaranteed Lenders has submitted four pages of questions to the SBA aboutthe "Our members have many questions about the and that is probably why the volume is less than said NAGGL President Tony Meanwhile, lending through the SBA's regular businessa loan programs remains far below last year's Through June 19, the SBA had approvexd half as many 7(a) loans this fiscalk year as it did during the same period a year ago. The totap dollar value of 7(a) loans was down 38 percent. Lendint through the 504 which finances real estate and otherfixed assets, was down 42 percent, both in number of loanw and in dollars.
SBA's fiscal year began Oct. 1. Lendinvg through both programs picked up afterMarch 16, when the SBA eliminatede or reduced fees on its loane and raised its guaranteed on 7(a) loans to 90 percent. These steps were called for in the the economicstimulus legislation.
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