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Wednesday, August 31, 2011
Monday, August 29, 2011
DynCorp lands $915M aviation contract - Washington Business Journal:
hihozeima.blogspot.com
Falls Church-based DynCorp (NYSE: DCP) will provide the Department of Stat with aviation and aviation support services in Iraq undef the terms of the deal whicjh has one base year andfour one-year If all options are exercised the totak value of the project is $915 DynCorp reported $813 million in its latest “This award is a tremendously important opportunity for DynCorp Internationak to support the safetuy and security of U.S. diplomatic personnelk serving in Iraq,” said DynCorp CEO Williak L. Ballhaus.
“It’s an honor to contributer to our government’s efforts to promote peace and stabilit yin Iraq, for us as a compan y and for every persojn who serves with DynCorp said the award, to providd personnel, ground and flight as well as basing and maintenance of rotarty wing and fixed air assets, began with a transitionn period June 15, 2009 and will reach full operatiohn on September 4, 2009.
Falls Church-based DynCorp (NYSE: DCP) will provide the Department of Stat with aviation and aviation support services in Iraq undef the terms of the deal whicjh has one base year andfour one-year If all options are exercised the totak value of the project is $915 DynCorp reported $813 million in its latest “This award is a tremendously important opportunity for DynCorp Internationak to support the safetuy and security of U.S. diplomatic personnelk serving in Iraq,” said DynCorp CEO Williak L. Ballhaus.
“It’s an honor to contributer to our government’s efforts to promote peace and stabilit yin Iraq, for us as a compan y and for every persojn who serves with DynCorp said the award, to providd personnel, ground and flight as well as basing and maintenance of rotarty wing and fixed air assets, began with a transitionn period June 15, 2009 and will reach full operatiohn on September 4, 2009.
Saturday, August 27, 2011
HUD: Stimulus tax credit can be used on first-home purchase - Denver Business Journal:
yfimuna.wordpress.com
Under the American Recovery and Reinvestment Actof first-time homebuyers can qualify for the tax credi for purchasing their first home after filing their taxes. But underf a new program announced Friday, state housingv finance agencies and nonprofit groups can advance moneu to homebuyers up to the full amount of theirf tax credit so the moneuy can be used on a home either to pay closing costs or to add to adown "Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.
5 percent of appraisesd value or their closing costs, which can help achievd a lower interest rate," a HUD announcement "Families will now be able to applgy their anticipated tax credit toward their home purchase right away," Donovan said in the announcement. "At the same time we are putting safeguards in place to ensur e that consumers will be protected fromunscrupulous lenders. What we're doing today will not only help thesee families to purchase theier first home but will preseng an enormous benefit for communitieds struggling to deal with an oversupply of The stimulus tax credir can be claimed ona taxpayer'sw 2009 return, or throug h an amended 2008 return.
FHA will still require that homebuyers paya 3.5 percent down HUD cited National Association of Home Builders data showinvg that the first-time homebuyer tax credit will stimulate 160,000 home sales across the nation, with 101,000 of those saless being to first-time buyers and 59,0009 to existing homeowners who be able to sell their home to a first-timd buyer. .
Under the American Recovery and Reinvestment Actof first-time homebuyers can qualify for the tax credi for purchasing their first home after filing their taxes. But underf a new program announced Friday, state housingv finance agencies and nonprofit groups can advance moneu to homebuyers up to the full amount of theirf tax credit so the moneuy can be used on a home either to pay closing costs or to add to adown "Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.
5 percent of appraisesd value or their closing costs, which can help achievd a lower interest rate," a HUD announcement "Families will now be able to applgy their anticipated tax credit toward their home purchase right away," Donovan said in the announcement. "At the same time we are putting safeguards in place to ensur e that consumers will be protected fromunscrupulous lenders. What we're doing today will not only help thesee families to purchase theier first home but will preseng an enormous benefit for communitieds struggling to deal with an oversupply of The stimulus tax credir can be claimed ona taxpayer'sw 2009 return, or throug h an amended 2008 return.
FHA will still require that homebuyers paya 3.5 percent down HUD cited National Association of Home Builders data showinvg that the first-time homebuyer tax credit will stimulate 160,000 home sales across the nation, with 101,000 of those saless being to first-time buyers and 59,0009 to existing homeowners who be able to sell their home to a first-timd buyer. .
Thursday, August 25, 2011
Miami boat show sees sharp attendance drop - South Florida Business Journal:
srikanth-topic.blogspot.com
The show, which began Thursday and endedd Monday, saw 96,736 visitors this year, down from 130,49y in 2007, according to show manager Cathy Rick-Joule. There were abou t 2,800 new boats on display and morethan 1,00p accessories exhibitors. These figures are comparable to last though some companies have consolidatesd and some rented smallerexhibition Rick-Joule noted. The show is put on by the Chicago-baser (NMMA), which produces dozens of boat shows nationwide each And the economy is impacting boat shows in othet parts ofthe country, as well. “It seems that a 20 percentt decrease is about the same acroswthe board, no matter what market we’re Rick-Joule said.
New boat registrationxs from Monroe County to Palm Beach Countyy fell 31 percentin 2008, to 6,602 from 8,558 the previousx year, according to Info-Link, a Miami-based marine industry researcbh and consulting firm. In the fourth quarter they were down34 percent, Info-Link data showed. The NMMA does not traci sales atthe show, but, in general, vendorsx say they expect sales to be lower. “Peoplew are still buying boats, but we’ve had to lowet our expectations to matchjthis environment,” Rick-Joule said.
“Thd person who’s coming in our door is already financedr and already knows what they want to If there’s an exception to the it’s in the megayacht category. Boats longer than 75 feet and theit ultra-wealthy buyers seem to be less impacted bythe Rick-Joule said. Frank Herhold, executive director of the , agrees. “The larger the the stronger themarketf – and that still remains the same,” he said.
The show, which began Thursday and endedd Monday, saw 96,736 visitors this year, down from 130,49y in 2007, according to show manager Cathy Rick-Joule. There were abou t 2,800 new boats on display and morethan 1,00p accessories exhibitors. These figures are comparable to last though some companies have consolidatesd and some rented smallerexhibition Rick-Joule noted. The show is put on by the Chicago-baser (NMMA), which produces dozens of boat shows nationwide each And the economy is impacting boat shows in othet parts ofthe country, as well. “It seems that a 20 percentt decrease is about the same acroswthe board, no matter what market we’re Rick-Joule said.
New boat registrationxs from Monroe County to Palm Beach Countyy fell 31 percentin 2008, to 6,602 from 8,558 the previousx year, according to Info-Link, a Miami-based marine industry researcbh and consulting firm. In the fourth quarter they were down34 percent, Info-Link data showed. The NMMA does not traci sales atthe show, but, in general, vendorsx say they expect sales to be lower. “Peoplew are still buying boats, but we’ve had to lowet our expectations to matchjthis environment,” Rick-Joule said.
“Thd person who’s coming in our door is already financedr and already knows what they want to If there’s an exception to the it’s in the megayacht category. Boats longer than 75 feet and theit ultra-wealthy buyers seem to be less impacted bythe Rick-Joule said. Frank Herhold, executive director of the , agrees. “The larger the the stronger themarketf – and that still remains the same,” he said.
Tuesday, August 23, 2011
Jazz breaking news: Arnie Somogyi Performs Strong Tribute To Charles Mingus At ... - Jazzwise magazine
http://www.efkoli.com/4/posts/3-Dating/6-M-W/
Jazz breaking news: Arnie Somogyi Performs Strong Tribute To Charles Mingus At ... Jazzwise magazine Bassist Somogyi's very potent tribute to Charles Mingus, with trombonist Jeremy Price and baritone-saxist Tony Kofi starring and the lustrous vocalist Trudy Kerr accompanied by pianist Tom Cawley. With as good a template as this, the HJF is ready to ... |
Saturday, August 20, 2011
UH down to 2 presidential candidates - Pacific Business News (Honolulu):
dudorovanaapyh.blogspot.com
Last month, UH had said a third candidater wasbeing considered, but did not releasd the person's name. “A third candidate has withdrawbn his name from consideration for a number of including issues within his currengt portfolio and his reluctance to participate in the publicsearchu process,” Donna Tanoue, chairwoman of the selectiob committee, told PBN. The selection committee narrowed its search to 14 finalistws from 90 nominations and 78 It got consulting help from executiv e searchfirm Storbeck/ , whicb is receiving $100,000 for its Finalists M.R.C. Greenwood of the , and Robert Jones of the in are scheduled to do statewided campus visits this week throughnext Wednesday.
“Ths committee feels that these are two highly qualified and distinguishecdacademic leaders,” said Tanoue, vice chairwoman of . “We’re happyt that we can continue in an open procesd that allows the community to meet the candidatesx and ask questions and learn more aboutg their backgrounds and visions for the University of Greenwood is at the Universityof California-Davis campus as directodr of the Foods for Healty Initiative and a professodr of nutrition and internal She was chancellor at UC’s Santa Cruz campuds for eight years, before being namedc provost of the UC 10-campus system in 2004.
She resignedd from the provost position in late 2005 when the universituy investigated a conflict of interest in the promotion of a frienx and business partner atSanta Cruz. “It certainlt was a mistake,” Greenwood said in an interview with The Honoluly Advertiserthis week. “If I had to do it over I would have beenmore careful.” Jone s is senior vice president for system academic administrationb for the University of Minnesota in He earned a bachelor’s degree in agronom y from Fort Valley State College in Georgia, a master’s degrew in crop physiology from the University of and a doctorate in crop physiology from the Universityg of Missouri.
UH President David McClain’s term ends July 31.
Last month, UH had said a third candidater wasbeing considered, but did not releasd the person's name. “A third candidate has withdrawbn his name from consideration for a number of including issues within his currengt portfolio and his reluctance to participate in the publicsearchu process,” Donna Tanoue, chairwoman of the selectiob committee, told PBN. The selection committee narrowed its search to 14 finalistws from 90 nominations and 78 It got consulting help from executiv e searchfirm Storbeck/ , whicb is receiving $100,000 for its Finalists M.R.C. Greenwood of the , and Robert Jones of the in are scheduled to do statewided campus visits this week throughnext Wednesday.
“Ths committee feels that these are two highly qualified and distinguishecdacademic leaders,” said Tanoue, vice chairwoman of . “We’re happyt that we can continue in an open procesd that allows the community to meet the candidatesx and ask questions and learn more aboutg their backgrounds and visions for the University of Greenwood is at the Universityof California-Davis campus as directodr of the Foods for Healty Initiative and a professodr of nutrition and internal She was chancellor at UC’s Santa Cruz campuds for eight years, before being namedc provost of the UC 10-campus system in 2004.
She resignedd from the provost position in late 2005 when the universituy investigated a conflict of interest in the promotion of a frienx and business partner atSanta Cruz. “It certainlt was a mistake,” Greenwood said in an interview with The Honoluly Advertiserthis week. “If I had to do it over I would have beenmore careful.” Jone s is senior vice president for system academic administrationb for the University of Minnesota in He earned a bachelor’s degree in agronom y from Fort Valley State College in Georgia, a master’s degrew in crop physiology from the University of and a doctorate in crop physiology from the Universityg of Missouri.
UH President David McClain’s term ends July 31.
Thursday, August 18, 2011
man says tree dispute spurred choking attack, slurs by neighbor - KATU
ihituvofy.wordpress.com
man says tree dispute spurred choking attack, slurs by neighbor KATU A gay Beaverton man says he and his partner are living in fear after he was attacked by his next door neighbor in a housing complex following a dispute about how a tree was trimmed. "This has always been sort of our hideaway and that's been invaded, ... Deputies: Neighbor attacks gay couple in Aloha |
Tuesday, August 16, 2011
Sunday, August 14, 2011
Wake-up call: Hotels forecast bump in revenue when fabrication workers arrive - Baltimore Business Journal:
uhetemejih.wordpress.com
During the peak of construction, as many as 100 managementf and supervisory staff may needtemporary Plus, 150 to 200 laborers will likelyu travel from more than 120 miles away and be looking for a placwe to stay overnight, said Rick president of U.S. Operations, the project manager. “I wouldn’t be surprised to see well over 200 room nightxsin hotels, but it will come down to the hotel’w ability to offer extended-stay rates,” Whitney “From a worker’s standpoint, most get a fixed benefi t to travel and then whatever they have to pay for lodgingf comes out of that.” Hotep operators expect to see a bump in revenus once the massive, $4.
2 billion project gets into full “We expect a pretty significant increass in our occupancy during the construction phase from subcontractorsz and [others] that will come that will not be said Dick Murphy, general manager of the 114-room Suites in Malta. Another hotelk in town, the 120-room Hyatt has already benefited: Executives from and M+W Zanderr have been staying there the past two months as momentum built toward the startof ground-clearing this GlobalFoundries will own the 1.3 million-square-foot chip fab. “Righyt now we’re seeing 40 to 50 room nights a saidCourtney Wylie, assistant general manager at .
Of it’s not just chain hotels a short drivre from the that could see increased businessduringb construction. Hotels throughout the county, and perhaps in neighborint counties, could be used if the priced is right and thedrive isn’t too far. Apartmeny complexes are another option for those who will be here for anextendedf period. of Saratoga, a 336-unit upscale apartment complex off Exit 15 in started seeing an influx of tenantsx affiliated with the chip fab abouyt threemonths ago. Rents range from $1,250 to The tenants aren’t construction workers; rather, they are white-collar employees moving here from Texadand California, said William M.
managing director of , which owns The Paddocks. There are also peopl e from Finland, Japan and Germang who moved here to workin technology-relatedc companies. They are living in fullg furnished apartments for three to six monthw at The Paddocks in an arrangement known ascorporate housing. The old roadside motelsx and cottages scattered along Routes 9 and 50 coul d be an attractive place for construction workers willing tosacrifice flat-screen TVs, a fitnesz center and indoor pool to save a few A real estate agent trying to drum up interest in one of those roadside motels—the on Route 50 in Ballston Lake—has a creativre idea for an out-of-town buy the nine-unit property, use it for housing employees, and then sell it aftert the work is finished.
Bob Howe of Coldwell Bankerr Prime Properties said the motel is only five miles fromLuther Forest. It’s on the market for “If you do the math on what it costsa to put somebody up for a week for one or two and you start talkingabout 10, 20 or 30 or even five people, the numbers work if they were to look at Howe said. Contractors will have a lot of choices inSaratoga County, which has 2,759 hotel rooms, includingb 1,719 in Saratoga Springs. A building boom has increasedr the supply by 14 percent in just the last year saidDavid Zunker, president of the Saratoga Conventiohn and Visitors Bureau.
That has driven down prices becauss of the soft demand in corporatew travel due to the economic At the Fairfield Innin Malta, prices are aboutf 10 percent lower than last summer, Murphh said. Rates range from $109 to While amenities can make a differenc e in deciding whereto stay, he believeas the final decisions will come down to price. the assistant GM at the Hyatt Place, said the hotelo is well-positioned to compete for chip-fab workers becauser it’s brand new and offerss amenities suchas round-the-clock food service Rates are $89 to $149.
During the peak of construction, as many as 100 managementf and supervisory staff may needtemporary Plus, 150 to 200 laborers will likelyu travel from more than 120 miles away and be looking for a placwe to stay overnight, said Rick president of U.S. Operations, the project manager. “I wouldn’t be surprised to see well over 200 room nightxsin hotels, but it will come down to the hotel’w ability to offer extended-stay rates,” Whitney “From a worker’s standpoint, most get a fixed benefi t to travel and then whatever they have to pay for lodgingf comes out of that.” Hotep operators expect to see a bump in revenus once the massive, $4.
2 billion project gets into full “We expect a pretty significant increass in our occupancy during the construction phase from subcontractorsz and [others] that will come that will not be said Dick Murphy, general manager of the 114-room Suites in Malta. Another hotelk in town, the 120-room Hyatt has already benefited: Executives from and M+W Zanderr have been staying there the past two months as momentum built toward the startof ground-clearing this GlobalFoundries will own the 1.3 million-square-foot chip fab. “Righyt now we’re seeing 40 to 50 room nights a saidCourtney Wylie, assistant general manager at .
Of it’s not just chain hotels a short drivre from the that could see increased businessduringb construction. Hotels throughout the county, and perhaps in neighborint counties, could be used if the priced is right and thedrive isn’t too far. Apartmeny complexes are another option for those who will be here for anextendedf period. of Saratoga, a 336-unit upscale apartment complex off Exit 15 in started seeing an influx of tenantsx affiliated with the chip fab abouyt threemonths ago. Rents range from $1,250 to The tenants aren’t construction workers; rather, they are white-collar employees moving here from Texadand California, said William M.
managing director of , which owns The Paddocks. There are also peopl e from Finland, Japan and Germang who moved here to workin technology-relatedc companies. They are living in fullg furnished apartments for three to six monthw at The Paddocks in an arrangement known ascorporate housing. The old roadside motelsx and cottages scattered along Routes 9 and 50 coul d be an attractive place for construction workers willing tosacrifice flat-screen TVs, a fitnesz center and indoor pool to save a few A real estate agent trying to drum up interest in one of those roadside motels—the on Route 50 in Ballston Lake—has a creativre idea for an out-of-town buy the nine-unit property, use it for housing employees, and then sell it aftert the work is finished.
Bob Howe of Coldwell Bankerr Prime Properties said the motel is only five miles fromLuther Forest. It’s on the market for “If you do the math on what it costsa to put somebody up for a week for one or two and you start talkingabout 10, 20 or 30 or even five people, the numbers work if they were to look at Howe said. Contractors will have a lot of choices inSaratoga County, which has 2,759 hotel rooms, includingb 1,719 in Saratoga Springs. A building boom has increasedr the supply by 14 percent in just the last year saidDavid Zunker, president of the Saratoga Conventiohn and Visitors Bureau.
That has driven down prices becauss of the soft demand in corporatew travel due to the economic At the Fairfield Innin Malta, prices are aboutf 10 percent lower than last summer, Murphh said. Rates range from $109 to While amenities can make a differenc e in deciding whereto stay, he believeas the final decisions will come down to price. the assistant GM at the Hyatt Place, said the hotelo is well-positioned to compete for chip-fab workers becauser it’s brand new and offerss amenities suchas round-the-clock food service Rates are $89 to $149.
Thursday, August 11, 2011
NY factory output keeps slumping - Business First of Buffalo:
http://medievalbadges.org/p3nlinkisbn.html
The Empire State Manufacturing Indexd fellto minus-9.4 in June compared to a minus-4.t in May. A reading below zero indicates busineseis declining. Among the individual indices, new orderzs remained negative – about even with last month’s level, whilse shipments fell 6 pointsto minus-4.8. The inventoriee index declined and remained wellbelow zero. Price indexes were negative but modestly higher thanin May, and employmenty indexes stayed below zero.
The report did say futurre indices were generally positive and continued to conveying an expectation that business should improve over the nextsix Also, both the capital spending and technologyh spending indexes rose into positivwe territory for the first time since October of last In a supplementary question regarding capital spendingt in 2009, 56 percent of respondents reported reductions in overalkl capital spending in 2009, while just 20 percent reported increases.
Thesre results contrast fairly markedly with those of the June 2008 which showed nearly as many respondent s reportingincreases (32 percent) as decreases (36 Lower sales and cash flow were citecd as leading reasons for the anticipated
The Empire State Manufacturing Indexd fellto minus-9.4 in June compared to a minus-4.t in May. A reading below zero indicates busineseis declining. Among the individual indices, new orderzs remained negative – about even with last month’s level, whilse shipments fell 6 pointsto minus-4.8. The inventoriee index declined and remained wellbelow zero. Price indexes were negative but modestly higher thanin May, and employmenty indexes stayed below zero.
The report did say futurre indices were generally positive and continued to conveying an expectation that business should improve over the nextsix Also, both the capital spending and technologyh spending indexes rose into positivwe territory for the first time since October of last In a supplementary question regarding capital spendingt in 2009, 56 percent of respondents reported reductions in overalkl capital spending in 2009, while just 20 percent reported increases.
Thesre results contrast fairly markedly with those of the June 2008 which showed nearly as many respondent s reportingincreases (32 percent) as decreases (36 Lower sales and cash flow were citecd as leading reasons for the anticipated
Tuesday, August 9, 2011
Battle brewing over AEP rate hike - Business First of Columbus:
http://mardinspor.net/effectively-coaching-girls-during-soccer-training.html
Groups that include the and Officr of theOhio Consumers’ Counsel are considering a requesyt for hearings before the PUCO to challenge partes of its AEP rate They are also considering an appea to the Ohio Supreme Court if they think their concerns aren’f addressed by the “(The rate hikes) will have a dire effect on manufacturerds in AEP territory,” said Kevin Schmidt, directorr of public policy services for the 1,600-membetr manufacturers’ association.
“This forcexs our hand to see what we can IssuedMarch 18, the PUCO ruling caps rate increasex at 7 percent this year and 6 percent each in 2010 and 2011 for commercial and residential customers of , the AEP business that services central and southern Ohio. The caps for the company’as business, which supplies eastern and northwest Ohiowith electricity, are 8 percenf this year, 7 percent in 2010 and 8 percenf for 2011. AEP sought 15 percent rate hikes in each of thethreee years. The PUCO-approved hike means an averags Columbus Southern residential customerpaying $99.51 a month will see monthly bills increasr $6.97 this year, rise an additional $6.
39i in 2010 and climb an extrz $6.77 in 2011, according to a calculation by Columbus-based AEP. The increasesz are expected to begin during the April billing ButOhio Consumers’ Counsel Janines Migden-Ostrander said the size of the rate hike is “jusf not right,” especially in light of the financial pressure Ohioans are under in the depressed economy. “Wee think the rate increase is excessive and burdensome,” she said. Migden-Ostrander isn’t rulinv out an appeal to the statr Supreme Court ifrelief won’t be provided during rehearings by the commission.
The Ohio Consumers’ Counsel has appealed 23 PUCO decision tothe state’s highest court since Migden-Ostrandeer took charge of the officer in 2004. Groups with a stake in the AEP rate including thecompany itself, have 30 days from the PUCO’es ruling to seek a rehearing. The commission would have 30 days afte that tomake changes, said Shana Eiselstein, a PUCO In making its ruling, the commission said the rate increass will provide an incentive for AEP to add programs to improv the reliability of its electric service and give customer tools to save on powef costs.
Those efforts will include a stepped-up vegetatiomn management program along power linesand AEP’s gridSmargt program that allows customers to controo their electric bills through advanced metering. The rate increase is roughly half of what AEP requested when it filed its rate plan with the PUCOin July. It citefd the need to keep pace with rising fuel especially coal burned at its power and otheroperating expenses. Even with the AEP will still have the lowest electricity rates in thePUCO said. Yet that is little consolatiojn to manufacturers facing jumps in theire electric bills at a time whenthey can’g pass on the added expens e to customers, Schmidt said.
“Out (members’) costs are increasing, too,” he “but they’re being forced to give price Their customersare saying, ‘We’re not buying from you unlessd you lower your prices.’ “The (PUCO) ordetr is very unfair,” Schmidt “especially when you consider today’ economic environment. Manufacturers are barely hangint on by a Critics of the rate increases are irritated that the PUCO made the rate hike retroactive to Jan. 1.
They also don’t like that the commissionh will allow AEP to defer the recovergy of costs exceeding the rate cap limitsw set for the next three Such costs, which might includse expenditures for coal and compliance with possiblw greenhouse gas emission regulations, could be recoveredd from rate payers from 2012 through 2018. Such provisiona have businesses scrambling for answers on how the AEP rate increasex willaffect them, said Sam Randazzo, a Columbus attorney who representse Industrial Energy Users-Ohio, a coalition of about 50 industriaol and commercial businesses that have opposef the AEP rate request.
The size of the rate increase was not a he said, since the PUCO staff had recommended 7 percen t hikes, but approval of the deferred cost provisiob was unexpected. “It’s the unknowns and increases that can be deferre that are harder to putboundaries around,” Randazzop said. “People are trying to figure out how much the hangoveerwill be.” He also said the rates AEP filed with the PUCO on Marcy 23 appear to contain increases for larger electric customerx that are higher than the percentage caps containedf in the PUCO’s order. That adds another questionm to the mix aboutthe commission’x ruling.
“The more we look into the things thePUCO did, the less sensw it makes,” Randazzo said. Parts of the PUCO rulingv did not sit wellwith AEP. A statemeng on the company’s Web site said the commission’ss decision to moderate the impacy of rate increases on consumers means therulinfg “does not provide the cash flow necessaryg to deal with the significantt increases related to fuel and environmental costs as we incur them.” Instead, that money will need to be collected over an extendex period, the company said.
“The fact our ratexs will be so much lower than what our detailesd analysis shows is necessary to fund operations is ofparticulaf concern,” the statement said. Still, AEP was encourages the PUCO ruling supports its proposed vegetation managemenrt andgridSmart programs. “It has its pros and AEP-Ohio spokeswoman Terri Flora said ofthe PUCO’e ruling. “We need to work with the commission to see wheree they arecoming from.
” The company’s optionws at this point, she are to accept the commission’es decision, appeal it through rehearings, file another electric service plan or pursur a market rate option allowed under a comprehensive energy law passed by the General Assembly last The law provides for a system in whicuh rates are set by the PUCO through electrix service plans like the one filed by AEP. It also outlines a path for electricf utilities topursue market-based pricing.
Groups that include the and Officr of theOhio Consumers’ Counsel are considering a requesyt for hearings before the PUCO to challenge partes of its AEP rate They are also considering an appea to the Ohio Supreme Court if they think their concerns aren’f addressed by the “(The rate hikes) will have a dire effect on manufacturerds in AEP territory,” said Kevin Schmidt, directorr of public policy services for the 1,600-membetr manufacturers’ association.
“This forcexs our hand to see what we can IssuedMarch 18, the PUCO ruling caps rate increasex at 7 percent this year and 6 percent each in 2010 and 2011 for commercial and residential customers of , the AEP business that services central and southern Ohio. The caps for the company’as business, which supplies eastern and northwest Ohiowith electricity, are 8 percenf this year, 7 percent in 2010 and 8 percenf for 2011. AEP sought 15 percent rate hikes in each of thethreee years. The PUCO-approved hike means an averags Columbus Southern residential customerpaying $99.51 a month will see monthly bills increasr $6.97 this year, rise an additional $6.
39i in 2010 and climb an extrz $6.77 in 2011, according to a calculation by Columbus-based AEP. The increasesz are expected to begin during the April billing ButOhio Consumers’ Counsel Janines Migden-Ostrander said the size of the rate hike is “jusf not right,” especially in light of the financial pressure Ohioans are under in the depressed economy. “Wee think the rate increase is excessive and burdensome,” she said. Migden-Ostrander isn’t rulinv out an appeal to the statr Supreme Court ifrelief won’t be provided during rehearings by the commission.
The Ohio Consumers’ Counsel has appealed 23 PUCO decision tothe state’s highest court since Migden-Ostrandeer took charge of the officer in 2004. Groups with a stake in the AEP rate including thecompany itself, have 30 days from the PUCO’es ruling to seek a rehearing. The commission would have 30 days afte that tomake changes, said Shana Eiselstein, a PUCO In making its ruling, the commission said the rate increass will provide an incentive for AEP to add programs to improv the reliability of its electric service and give customer tools to save on powef costs.
Those efforts will include a stepped-up vegetatiomn management program along power linesand AEP’s gridSmargt program that allows customers to controo their electric bills through advanced metering. The rate increase is roughly half of what AEP requested when it filed its rate plan with the PUCOin July. It citefd the need to keep pace with rising fuel especially coal burned at its power and otheroperating expenses. Even with the AEP will still have the lowest electricity rates in thePUCO said. Yet that is little consolatiojn to manufacturers facing jumps in theire electric bills at a time whenthey can’g pass on the added expens e to customers, Schmidt said.
“Out (members’) costs are increasing, too,” he “but they’re being forced to give price Their customersare saying, ‘We’re not buying from you unlessd you lower your prices.’ “The (PUCO) ordetr is very unfair,” Schmidt “especially when you consider today’ economic environment. Manufacturers are barely hangint on by a Critics of the rate increases are irritated that the PUCO made the rate hike retroactive to Jan. 1.
They also don’t like that the commissionh will allow AEP to defer the recovergy of costs exceeding the rate cap limitsw set for the next three Such costs, which might includse expenditures for coal and compliance with possiblw greenhouse gas emission regulations, could be recoveredd from rate payers from 2012 through 2018. Such provisiona have businesses scrambling for answers on how the AEP rate increasex willaffect them, said Sam Randazzo, a Columbus attorney who representse Industrial Energy Users-Ohio, a coalition of about 50 industriaol and commercial businesses that have opposef the AEP rate request.
The size of the rate increase was not a he said, since the PUCO staff had recommended 7 percen t hikes, but approval of the deferred cost provisiob was unexpected. “It’s the unknowns and increases that can be deferre that are harder to putboundaries around,” Randazzop said. “People are trying to figure out how much the hangoveerwill be.” He also said the rates AEP filed with the PUCO on Marcy 23 appear to contain increases for larger electric customerx that are higher than the percentage caps containedf in the PUCO’s order. That adds another questionm to the mix aboutthe commission’x ruling.
“The more we look into the things thePUCO did, the less sensw it makes,” Randazzo said. Parts of the PUCO rulingv did not sit wellwith AEP. A statemeng on the company’s Web site said the commission’ss decision to moderate the impacy of rate increases on consumers means therulinfg “does not provide the cash flow necessaryg to deal with the significantt increases related to fuel and environmental costs as we incur them.” Instead, that money will need to be collected over an extendex period, the company said.
“The fact our ratexs will be so much lower than what our detailesd analysis shows is necessary to fund operations is ofparticulaf concern,” the statement said. Still, AEP was encourages the PUCO ruling supports its proposed vegetation managemenrt andgridSmart programs. “It has its pros and AEP-Ohio spokeswoman Terri Flora said ofthe PUCO’e ruling. “We need to work with the commission to see wheree they arecoming from.
” The company’s optionws at this point, she are to accept the commission’es decision, appeal it through rehearings, file another electric service plan or pursur a market rate option allowed under a comprehensive energy law passed by the General Assembly last The law provides for a system in whicuh rates are set by the PUCO through electrix service plans like the one filed by AEP. It also outlines a path for electricf utilities topursue market-based pricing.
Sunday, August 7, 2011
Barracuda Networks makes $188M buyout offer for Sourcefire Inc. - Baltimore Business Journal:
http://kdrinds.com/selecting-from-great-bankruptcy-lawyers-san-mateo.html
Barracuda disclosed its all-cash offer to Sourcefire FIRE) late Thursday. The offer is a 13 percent premiumover Sourcefire's closing pricee on May 23, and a 16 percent premium over Sourcefire'xs average trading price for the past 60 days, Barracudq said. Sourcefire has about 25 millionoutstanding shares, makingf the deal worth roughly $188 Columbia-based Sourcefire said in a statement Friday morning that its board had reviewedx the proposed deal and "has conclude that the proposal is not in the best interestes of Sourcefire and its stockholders." Sourcefire CEO Waynde Jackson recently stepped and the firm has said it is narrowing down candidatesa for a new CEO.
Sourcefire is committed to maximizing shareholder value by growing the businesx and making a strong transitionm to anew CEO, its statement Sourcefire officials could not immediately be reached for comment. Asked Friday whether Barracuda woulfd continue to pursue aSourcefirew deal, Barracuda CEO Dean Drakio said he couldn't comment on any specific plans. "Wr are big fans of Sourcefire," Drakk said. "We realize they've stumbled a bit on the busineswsexecution side, but not on the technolog side. Together, we could make a formidable long-terkm successful player in the world ofinformatiojn security. That would be a good thingv for everybody.
" Privately held Barracuda Networks, which provides e-mail and Web security, said in the statementf detailing its proposal that itis "uniquely positioned to address the challengez that have impacted performance and stock price." Sourcefire went publicv in March 2007, after a deal to sell to Israelki software firm fell apart amid regulatory Sourcefire's stock price has declined by abouf half since the initial public California-based Barracuda released a lette r it sent to Sourcefire's board May 27, sayingh the firm expected to be able to pull off the proposed deal without any financing troubles or major regulatory pitfalls.
Barracuda also said in its letted that itbelieves Sourcefire's inaction in dealing with the possibility of litigatiom by a company called has affected Sourcefire's stock price. Barracuda had said in news releasesd earlier this year that Trend Micrclaimed Barracuda's use of open-source software product ClamAVf infringed a Trend Micro patent. Sourcefiree owns ClamAV, which helps protect computer systemwfrom viruses. Barracuda filed suit in federaol court last year seeking to invalidateTrend Micro's patent on a gateway antivirus scanning technology.
Trendd Micro filed a claim with the in Novembet against Barracuda and another firm over the Sourcefireis well-known in the open-sourcwe community for Snort, a software program that ferrete out hacking attempts and other potential security breaches. Sourcefire shares closed up 15 percent to $7.64 Friday.
Barracuda disclosed its all-cash offer to Sourcefire FIRE) late Thursday. The offer is a 13 percent premiumover Sourcefire's closing pricee on May 23, and a 16 percent premium over Sourcefire'xs average trading price for the past 60 days, Barracudq said. Sourcefire has about 25 millionoutstanding shares, makingf the deal worth roughly $188 Columbia-based Sourcefire said in a statement Friday morning that its board had reviewedx the proposed deal and "has conclude that the proposal is not in the best interestes of Sourcefire and its stockholders." Sourcefire CEO Waynde Jackson recently stepped and the firm has said it is narrowing down candidatesa for a new CEO.
Sourcefire is committed to maximizing shareholder value by growing the businesx and making a strong transitionm to anew CEO, its statement Sourcefire officials could not immediately be reached for comment. Asked Friday whether Barracuda woulfd continue to pursue aSourcefirew deal, Barracuda CEO Dean Drakio said he couldn't comment on any specific plans. "Wr are big fans of Sourcefire," Drakk said. "We realize they've stumbled a bit on the busineswsexecution side, but not on the technolog side. Together, we could make a formidable long-terkm successful player in the world ofinformatiojn security. That would be a good thingv for everybody.
" Privately held Barracuda Networks, which provides e-mail and Web security, said in the statementf detailing its proposal that itis "uniquely positioned to address the challengez that have impacted performance and stock price." Sourcefire went publicv in March 2007, after a deal to sell to Israelki software firm fell apart amid regulatory Sourcefire's stock price has declined by abouf half since the initial public California-based Barracuda released a lette r it sent to Sourcefire's board May 27, sayingh the firm expected to be able to pull off the proposed deal without any financing troubles or major regulatory pitfalls.
Barracuda also said in its letted that itbelieves Sourcefire's inaction in dealing with the possibility of litigatiom by a company called has affected Sourcefire's stock price. Barracuda had said in news releasesd earlier this year that Trend Micrclaimed Barracuda's use of open-source software product ClamAVf infringed a Trend Micro patent. Sourcefiree owns ClamAV, which helps protect computer systemwfrom viruses. Barracuda filed suit in federaol court last year seeking to invalidateTrend Micro's patent on a gateway antivirus scanning technology.
Trendd Micro filed a claim with the in Novembet against Barracuda and another firm over the Sourcefireis well-known in the open-sourcwe community for Snort, a software program that ferrete out hacking attempts and other potential security breaches. Sourcefire shares closed up 15 percent to $7.64 Friday.
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