Sunday, February 27, 2011

Venture capitalists finding little call for deal-making - South Florida Business Journal:

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So far this year, it hasn’tf done a single one. “It has slowedf down for us,” said Dan Fleming, a River Citiea managing director. “We are being extra careful. We’rer looking for any company that’s able to grow in this economic climate.” That’s the problem. And the downtown-based companh is about the only local venturw capital firm that has a new fund loaded with cash to tap for It finished raisinga $120 million fund in Marcjh 2008. New deals at have slowed to a too. “The economic climate is influencing everything,” said Jack Wyant, a Blue Chip managing director.
Blue Chip has been makingv small investmentsof $250,000 to $1 million out of its Validationm Fund, Wyant said. But the largef deals of $5 million to $15 million are slow. Most locao venture funds’ new investments have become saidDavid Willbrand, venture capital partner at downtown law firm . “We haven’t seen many dealws in the lastsix months,” said Willbrand, who trackss such local activity for the . The local fund are not alone. The number of ventur e capital deals nationally plunged 37 percent in the firstg quarter compared with the fourth according to the MoneyTree Report from andthe .
The dollar valuee dropped 47 percent, and it was down 60 percen t from ayear ago. The $3 billion that venturr capitalists put into 549 deals was the slowesyt activitysince 1997. A big part of the problejm for venture funds is the inability to get out of their investments. The exits are closed. Try takingg a company public. Just 11 IPOs nationally have taken place this year throughJune 2. That’s down 85 percent from a year ago. And the IPO marke t is a key exit strategy forventure funds. Acquisitions, another common way for venture fundx to exitan investment, are also on the rocks.
It’ds all backing up ventur funds and making it tough for them to donew “We have six to sevejn companies primed for exit, but there’s almostf no exit market existent,” Fleming said. Willbrand said the inabilityu of funds to get out of old investmentsw is holding up new The longer funds stick withan investment, the more moneg they need to put into it. many of those companies have problems as theeconomhy slows. “Our main measuring stick is time-weighted returns,” Fleminvg said. “When time stretches out, the (internal rate of return) goes Slow exits also make it harder for venture fundsx to figure out the value of a potentianew investment.
“Their ultimate return depends onthe exit,” Willbrand “With no good data, it turns the risk knob up

Friday, February 25, 2011

Pew report: Clean energy powers job growth - Portland Business Journal:

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study said Florida was one of 38 states and the Districty of Columbia in which job growth in the cleabn energy economy outperformed overalljob gains. Pew defines a clean energy economy as one that generates jobs, businesses and investments while expanding clean energy production, increasint energy efficiency, reducing greenhouse gas emissions, waste and and conserving water and other naturall resources. In Florida, there was a 7.9 percenrt increase in clean energy jobsfrom 28,84 5 jobs in 1998 to 31,122 jobs in 2007.
The numbere are a hard count ofactual jobs, Pew said in a and range from jobs as diverse as plumbers, administrative assistants, construction machine setters, marketing consultants and teachers with annualo incomes ranging from $21,0009 to $111,000. Nationally, jobs in the cleanb energy industry grew at a rateof 9.1 percent betweenn 1998 and 2007, while total jobs grew by 3.7 percen in the same period, the report says. Florida had 3,831 clean energy businesses at the endof 2007, a 22.7 percenft increase from 3,121 businesses in 1998, the report says.
Therw were 236 clean energy patentz in Florida between 1999and 2008, and venturde capital firms invested $117 in clea technology in Florida between 2006 and 2008.

Wednesday, February 23, 2011

Miley Cyrus Bans Father from Appearing on The View - The Hollywood Gossip

http://www.collegecostshowmuch.com/2005/p_news/nit/iacpa-archieve/nit-staffers/top50.html


New York Post


Miley Cyrus Bans Father from Appearing on The View

The Hollywood Gossip


Not only is Miley's dad under attack by Satan, but his plans to continu »

Sunday, February 20, 2011

Memories of 1995 haunt GOP as shutdown talk grows - The Associated Press

concrete roofing


USA Today


Memories of 1995 haunt GOP as shutdown talk grows

The Associated Press


Now, as Congress careens toward a budget impasse, government insiders wonder if another shutdown is imminent รข€" and whether Republicans again would suffer the most blame. Leaders of both parties say they are determined to avoid a shutdown. ...


Congress, Obama brace for showdown as government shutdown looms

Washington Post


Congress cut tens of billions from budget

33 KDAF-TV


Our View: Engine vote a positive sign on cuts

Mankato Free Press


Daily Mail -Daily Political -The Hill (blog)


 »

Friday, February 18, 2011

Rohde & Schwarz forms Relationship with Tektronix - Aerospace Manufacturing and Design

http://www.yardbarker.com/users/xuanter


Rohde & Schwarz forms Relationship with Tektronix

Aerospace Manufacturing and Design


Rohde and Schwarz, has announced that it has formed a relationship with Tektronix Service Solutions to offer customers in North America a single-source for calibration services. This represents the first time that two major test and measurement ...



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Tuesday, February 15, 2011

Starbucks signs hotel deal for in-room coffee - Bizjournals.com

http://www.eccesacerdos.com/wordpress/?m=201006


Reuters


Starbucks signs hotel deal for in-room coffee

Bizjournals.com


Starbucks Corp. has signed a deal with Courtesy Products that will put the Seattle coffee giant's coffee in up to 500000 US hotel rooms. ...


Deal to bring Starbucks' Via to hotel rooms

Chicago Tribune


Starbucks brews up single-cup coffee deal

Washington Post


Starbucks, Courtesy Products Ink Hotel Brewing Deal

Post Chronicle


NASDAQ -Business Wire (press release) -Morningstar.com


 »

Sunday, February 13, 2011

United Financial to pay $25M for CNB - Boston Business Journal:

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Inc. lost the bidding war for CNB which operates six branches and hasabouty $300 million in assets. But Berkshire will receiv e a termination feeof $970,00o as part of a prior merger agreement with CNB. Durinh a vetting of CNB’s loan portfolio, Berkshire estimated it wouldx mark down theWorceste bank’s loans by $14 million, which includeas $3 million accounted for in CNB’d loan loss reserve. United Financial (Nasdaq: UBNK) said it is payintg 1.25 times CNB’s book value to clinch the Once the mergeris completed, Unitec Financial said, it will have about $1.5 billion in assets, aboutt $1 billion in deposits and tangible common equityg of $220 million.
Assuming a 15 perceng reductionin CNB’s operating expenses, Unitede Financial expects the acquisition to boost 2010 operating earnings per sharse by 9 percent. United Financial of Springfield, Massachusetts said it will takea pre-ta x restructuring charge of aboug $4 million, including the cost of paying Berkshires its merger termination fee.

Thursday, February 10, 2011

Report: Sacramento 12th-worst for foreclosures - Austin Business Journal:

http://rmponline.com/pcupgrade.html
Sacramento is the 12th-worst markert for foreclosures inthe state, with 1,391 sales — or about one of everty 1,024 homes. But the activity in foreclosurwe sales in the region is a 20 percent drop from ayear ago, accordinh to . The region had 2,693 notices of default — considered the first step in the foreclosurerprocess — and 1,673 notices of truste sales. Merced, Stanislaus and Yuba counties were the worst in the followed by San Joaquin andRiverside Statewide, foreclosures increased for the third-consecutive evidence that the housing market remains in Foreclosure sales increased 24.
7 percent in June compared to May, a slightlgy smaller increase than the previous two months. Foreclosure sales had jumpedd at least 30 percent in Apriland May, comparedx to the previous Statewide, foreclosure sales in June were 8.2 percent lowed than a year ago. The brisk activity in foreclosures could continue in the late after notices of defaultincreased 11.8 percent to 45,691 filings, the second-highest month on record, accordingg to ForeclosureRadar. June’s notices of defaulg are 10 percent higher than ayear ago. Home lenderes reported mixed resultsin June, possibly because of the Californiw Foreclosure Prevention Act, which extends the noticed of trustee sale by 90 days.
Banks can avoidc the 90-day extension by offering a comprehensive loan-modificatio program to homeowners. Bank of America’s filingas dropped 49 percent last month, whiles CitiMortgage and Downtown Savings’ notices of trustee sales increasefd 69 percent and45 percent, respectively.

Monday, February 7, 2011

Wachovia report: Florida hit harder by recession - Jacksonville Business Journal:

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Florida went into the recession nine months ahead of the rest of theUnites States, and excesses in housin g and commercial real estate are considerably worser than the nation as a whole, the reporyt says. Statewide, the median sale price of existing homes is down about 45 percent from the peak of the housingf boom inNovember 2005. Employment conditions continureto deteriorate, the report says. The state’s unemploymen rate is expected to top out aroundc11 percent, Wachovia projects, with a loss of 720,000 including 430,000 jobs lost this year. reported 137 layofc events during the first more than double theprevious period.
Job losses are heaviesg in industries with direct ties to thebuildinh boom, including construction and manufacturing, Wachoviza said. Wachovia estimates Floridiands saw a net lossof $1.2 trillio in household wealth during 2008 with about two-thirds of that drop occurrinbg in financial assets.

Saturday, February 5, 2011

Gateway Raceway stalls; Cibelli pushes for changes - St. Louis Business Journal:

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and its parent company, of are running under a caution flag. Dover has writteh down Gateway’s value by $7.5 million, or 43 It is working to cut costsz and keep the trac openfor business, but acknowledged in its annual reporyt that Gateway “generated negativde cash flows for several years and we expecyt that these negative cash flows will Dover, which also owns , Nashville Superspeedway and Memphie Motorsports Park, posted a $5.7 million loss last year followinfg a $3.7 million profit in 2007. Decliningt admissions contributed to a 2 percent drop in revenuedto $84.
3 million, its lowest level in four That performance put the brakes on the company’s Its value has falle n 67 percent during the past 12 monthse to about $2 a share. Run by Genera l Manager Lenny Batycki, Gateway is home to a 1.25-mile paveed oval track with 54,000 seats, a drag racing striop that canhost 30,000 spectators and a road It is scheduled to host four major eventa this year, but has yet to lure one of ’sz coveted top-level Sprint Cup Series racew to the track. “Nobody enjoyds losing money, but we will continue on with thestrateghy we’ve had since we bought the to operate it as best we can,” said Doved Executive Vice President Mike Tatoian.
But some of Dover’s largest outside shareholders are losinh patience and pressuring the board to sell the company or at leas itsMidwestern racetracks. Mario Cibelli, managing member of Dover’s largest outside shareholder witha 16.3 percent called the Midwestern racetracks “a in a letter to Dover’s boared in May 2008. “The (Midwestern) facilitie s will most likely never be profitablre and therefore will never earn anywhere near a respectable returbnon capital,” Cibelli wrote. “NASCAR will not ride to the rescur ofthese tracks.” Any sale would need approval by Doved Chairman Henry Tippie, who controls 54.
4 percen t of the company’s voting stock. So far he has resistexd calls for change. Tatoian said no potential buyerds have approached Dover about buying and Dover has not shoppexdit around. Dover owes $4.1 millio n of $21.5 million in bond proceeda issued in 1996 bythe (SWIDA) to redevelop and expand About $1.13 million is due this Michael Lundy, SWIDA’s executive director, said the authoritt has had no problem collectinb payments from Dover, and Dover statefd it has $5.2 million set aside in restrictefd cash funds to meet its SWIDA debt service.
So far, Gateway’xs ticket sales are abouty the same as last Tatoian said, but sponsorship revenud for the upcoming NASCAR Nationwide Seriesx race and other events is down about 10 That has Dover cutting some The company’s board of directorsw decided in January no executives would receive bonuses for 2008 and executive salaries would be frozen for 2009. Laterf that month it cut the company’s quarterly cash dividend to 1 cent a share from 15 centsa share.

Wednesday, February 2, 2011

Execution drugs: Arizona inmate lawsuit seeks FDA policing - AZ Central.com

http://allergyshop.com/austinairpetmachine.html


Execution drugs: Arizona inmate lawsuit seeks FDA policing

AZ Central.com


Lawyers for three Arizona Death Row prisoners filed suit in federal court in Washington, DC, this morning to force ...



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