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Friday, December 31, 2010
Wednesday, December 29, 2010
Six Flags files Chapter 11 - Los Angeles Business from bizjournals:
thiswake-citizenship.blogspot.com
New York-based Six Flags (OTC BB: SIXF) said its reorganizatiohn plan has unanimous support ofits lenders’ steerint committee and the administrative agent for the company’s $1.1 billioj senior secured credit facility. The plan woulf deleverage the company’s balance sheer by $1.8 billion, and cut more than $300 millionb in mandatorily redeemable preferredstock obligations. The compant listed assets of $3.03 billion and debte of $2.36 billion in its filing. “The curreng management team inheriteda $2.
4 billion debt load that cannog be sustained, particularly in these challenging financiak markets,” said Mark Shapiro, president and CEO of Six Flags, in a “As a result, we are cleaning up the past and positioningt the company for future growth... Following a record year of performancwin 2008, which completed the three-year turnaround of our system-wide park operation, this action to cleab up the balance sheet paves the way for a full revivapl of the company. ” Six Flags has 97.7 milliohn shares of common stockand 1.1 million shares of preferredx stock. Six Flags’ stock closed June 12 at 26 cents a Six Flagsreported . It had a loss of $134 millionj in 2008.
Six Flags operates Valencia'x Six Flags Magic Mountain.
New York-based Six Flags (OTC BB: SIXF) said its reorganizatiohn plan has unanimous support ofits lenders’ steerint committee and the administrative agent for the company’s $1.1 billioj senior secured credit facility. The plan woulf deleverage the company’s balance sheer by $1.8 billion, and cut more than $300 millionb in mandatorily redeemable preferredstock obligations. The compant listed assets of $3.03 billion and debte of $2.36 billion in its filing. “The curreng management team inheriteda $2.
4 billion debt load that cannog be sustained, particularly in these challenging financiak markets,” said Mark Shapiro, president and CEO of Six Flags, in a “As a result, we are cleaning up the past and positioningt the company for future growth... Following a record year of performancwin 2008, which completed the three-year turnaround of our system-wide park operation, this action to cleab up the balance sheet paves the way for a full revivapl of the company. ” Six Flags has 97.7 milliohn shares of common stockand 1.1 million shares of preferredx stock. Six Flags’ stock closed June 12 at 26 cents a Six Flagsreported . It had a loss of $134 millionj in 2008.
Six Flags operates Valencia'x Six Flags Magic Mountain.
Sunday, December 26, 2010
GSI details revenue errors, probe widens - Business First of Columbus:
showarticle-cultura.blogspot.com
The Bedford, Mass.-based company also said its lega l counsel and audit committee were reviewing revenur bookings within its precision technology division for the same periodz to determine whether similar adjustmentasare needed. GSI (Nasdaq: GSI) said the affected revenu stemmed from accounting errors and the timiny recorded for certain Expectedadjustments include: The situation has causedr the company to delay the release of its financial resultse to regulators. Last month, GSI said it was nearing a point when it couldx restate those results and submit to regulatorzs results from its fiscal first quarter endedApril 3.
the company said its filing delays have promptee a delisting notice from the and triggered negotiations with creditorsw to restructureits . GSI said in its regulatoryu filing Tuesday that on June 11 it stood befordthe Nasdaq’s Listing Qualifications Panel to request a stay of its pending The company is still awaitinyg a ruling on the matter. In June, GSI said a declinwe in bookings in the fourth and firstg quarters forced it to restructure its operations and shave millionsw in costs fromits books. The company cut 158 workeras in the first quarter and another 16 employeesin April. Thos e changes will result in roughly $9 million in annual savings.
The Bedford, Mass.-based company also said its lega l counsel and audit committee were reviewing revenur bookings within its precision technology division for the same periodz to determine whether similar adjustmentasare needed. GSI (Nasdaq: GSI) said the affected revenu stemmed from accounting errors and the timiny recorded for certain Expectedadjustments include: The situation has causedr the company to delay the release of its financial resultse to regulators. Last month, GSI said it was nearing a point when it couldx restate those results and submit to regulatorzs results from its fiscal first quarter endedApril 3.
the company said its filing delays have promptee a delisting notice from the and triggered negotiations with creditorsw to restructureits . GSI said in its regulatoryu filing Tuesday that on June 11 it stood befordthe Nasdaq’s Listing Qualifications Panel to request a stay of its pending The company is still awaitinyg a ruling on the matter. In June, GSI said a declinwe in bookings in the fourth and firstg quarters forced it to restructure its operations and shave millionsw in costs fromits books. The company cut 158 workeras in the first quarter and another 16 employeesin April. Thos e changes will result in roughly $9 million in annual savings.
Friday, December 24, 2010
Reports: U.S. probes Silicon Valley tech giants' hiring - Portland Business Journal:
http://typomil.com/odkazy/weby.htm
The Washington Post and New York Timez reported late on Tuesday that the antitrust probee is centered onwhether (NASDAQ:GOOG), (NASDAQ:AAPL), (NASDAQ:YHOO), and otherss agreed not to recruit each other's employees. The stories cite unnamed sources the papers said are familiar with the The investigation is reportedly in its early with the papers saying that the government has requestedx documents and information fromtargeted companies.
The inquiryu is seen as another sign that the Obamza administration will be more aggressive on antitrusyt laws than his predecessor and Silicon Valleuy tech firms are a focus of that The Justice Department is currently also investigating a proposefd settlementbetween Google, authors and publishers to resolve a copyright dispute, the Wall Streef Journal has reported citing unnamed sources. The Federal Tradw Commission has also asked questionsx about whether having Google CEO Eric Schmidt and formerGenentech Inc. CEO Art Levinson on both the Applde and Google board is a violation ofantitrusg laws.
The Washington Post and New York Timez reported late on Tuesday that the antitrust probee is centered onwhether (NASDAQ:GOOG), (NASDAQ:AAPL), (NASDAQ:YHOO), and otherss agreed not to recruit each other's employees. The stories cite unnamed sources the papers said are familiar with the The investigation is reportedly in its early with the papers saying that the government has requestedx documents and information fromtargeted companies.
The inquiryu is seen as another sign that the Obamza administration will be more aggressive on antitrusyt laws than his predecessor and Silicon Valleuy tech firms are a focus of that The Justice Department is currently also investigating a proposefd settlementbetween Google, authors and publishers to resolve a copyright dispute, the Wall Streef Journal has reported citing unnamed sources. The Federal Tradw Commission has also asked questionsx about whether having Google CEO Eric Schmidt and formerGenentech Inc. CEO Art Levinson on both the Applde and Google board is a violation ofantitrusg laws.
Tuesday, December 21, 2010
EXACT gets Nasdaq delisting warning - Boston Business Journal:
http://doberescue.net/volunteer.html
The Marlborough, Mass.-based company said the letter was received Marchn 6 and specified a handful of areas of noncompliance concerninvEXACT Sciences. Among them: • The company’sd market capitalization, or the market value of its commobshares outstanding, has fallen below the exchange’s $35 million minimum. At roughly 79 centxs a share Monday, EXACT Science’xs market cap is just over $21 million. • The company’xs stockholder’s equity is below the Nasdaq’s $2.5 millionm minimum.
• The company has failexd to generate $500,000 in net income from continuing operationa in the last year or in two of the last three EXACTSciences (Nasdaq: EXAS) said it has 90 or until June 4, to regai n compliance. The company booked a net loss of $7.6 milliohn in the nine months ended Sept. 30.
The Marlborough, Mass.-based company said the letter was received Marchn 6 and specified a handful of areas of noncompliance concerninvEXACT Sciences. Among them: • The company’sd market capitalization, or the market value of its commobshares outstanding, has fallen below the exchange’s $35 million minimum. At roughly 79 centxs a share Monday, EXACT Science’xs market cap is just over $21 million. • The company’xs stockholder’s equity is below the Nasdaq’s $2.5 millionm minimum.
• The company has failexd to generate $500,000 in net income from continuing operationa in the last year or in two of the last three EXACTSciences (Nasdaq: EXAS) said it has 90 or until June 4, to regai n compliance. The company booked a net loss of $7.6 milliohn in the nine months ended Sept. 30.
Sunday, December 19, 2010
Gates Foundation funds manufacturing training - Puget Sound Business Journal (Seattle):
firukendu-anchored.blogspot.com
million grant from the to creater a national skills certification system to raise up a manufacturingb work forceamong low-income individuals. Communitu colleges throughout the country will participate in teachingh the Manufacturing Skills CertificationSystem — which is endorsedd by the . These educational programs will helpprepared students, particularly low-income young adults and transitionintg workers, with entry-level skillsx needed to succeed in a career in manufacturing. “We need to get kids engagexd in learning, and we need to give them says NAM PresidentJohn Engler.
“Moving these industry-recognized skillxs certifications into community college programs willprovide meaningful, relevany education for students and ultimately produce a highly skilledf and mobile work force – making us more competitive in the globalo economy.” The Manufacturing Skills Certificationn System will help prepare individualsa for manufacturing careers in a rangw of fields including alternative energy, aerospace and pharmaceuticals. The Manufacturing Institute isa 501(c)2 affiliate of the National Association of Manufacturers. It is based in D.C. The Bill and Melinda Gates Foundatio is basedin Seattle.
million grant from the to creater a national skills certification system to raise up a manufacturingb work forceamong low-income individuals. Communitu colleges throughout the country will participate in teachingh the Manufacturing Skills CertificationSystem — which is endorsedd by the . These educational programs will helpprepared students, particularly low-income young adults and transitionintg workers, with entry-level skillsx needed to succeed in a career in manufacturing. “We need to get kids engagexd in learning, and we need to give them says NAM PresidentJohn Engler.
“Moving these industry-recognized skillxs certifications into community college programs willprovide meaningful, relevany education for students and ultimately produce a highly skilledf and mobile work force – making us more competitive in the globalo economy.” The Manufacturing Skills Certificationn System will help prepare individualsa for manufacturing careers in a rangw of fields including alternative energy, aerospace and pharmaceuticals. The Manufacturing Institute isa 501(c)2 affiliate of the National Association of Manufacturers. It is based in D.C. The Bill and Melinda Gates Foundatio is basedin Seattle.
Thursday, December 16, 2010
Monell's files Chapter 11 bankruptcy - Business First of Columbus:
acasadtoglad-shiva.blogspot.com
The beloved "meat n’ three" restaurant came to an impasse with its bank negotiating a refinance of its main which is worth more thanits debt, Monell’s attorney Ernesgt Williams says. “Monell’s obligation to its principaplcreditor matured. The bankrupty is to allos Monell breathing space to obtain replacement loans or to reorganize througha bankruptcy-court confirmexd plan of reorganization,” says WIlliams, of .
He added that Monell’z is solvent, paying its debts as they come due, and operationa would not change duringthe “It should be able to continur to deliver the same quality restauranf and catering service it has come to be knowbn for,” he says. The Nashvillr institution is based in Germantown in an house on Sixth Avenue owne by president Michael JohnAbraham King, and also leasesx a restaurant space in with a catering arm on 31st Avenue.
The beloved "meat n’ three" restaurant came to an impasse with its bank negotiating a refinance of its main which is worth more thanits debt, Monell’s attorney Ernesgt Williams says. “Monell’s obligation to its principaplcreditor matured. The bankrupty is to allos Monell breathing space to obtain replacement loans or to reorganize througha bankruptcy-court confirmexd plan of reorganization,” says WIlliams, of .
He added that Monell’z is solvent, paying its debts as they come due, and operationa would not change duringthe “It should be able to continur to deliver the same quality restauranf and catering service it has come to be knowbn for,” he says. The Nashvillr institution is based in Germantown in an house on Sixth Avenue owne by president Michael JohnAbraham King, and also leasesx a restaurant space in with a catering arm on 31st Avenue.
Tuesday, December 14, 2010
Economist: U.S. may see double-dip recession by late 2010 - Baltimore Business Journal:
vishnevskiipavuh.blogspot.com
Those odds may seem low, but they’rse actually high since double-dip recessions are rare and the U.S. economt grows 95 percent of the saidthe chamber’s Marty Regalia. He predicted that the currenrt economic downturn will end around Septembed but that the unemployment rate will remain high throughg the first half ofnext year. Investment won’r snap back as quickly as it usuallty does aftera recession, Regalia Inflation, however, looms as a potential problem becausre of the federal government’s huge budget deficitsz and the massive amount of dollars pumped into the economgy by the , he said.
If this stimuluas is not unwound once the economg beginsto recover, higher interesft rates could choke off improvement in the housiny market and business investment, he “The economy has got to be running on its own by the middles of next year,” Regalia said. Almostr every major inflationary periodin U.S. history was precededs by heavydebt levels, he noted. The chances of a double-diop recession will be lower if Ben Bernanke is reappointed chairman of theFederapl Reserve, Regalia said. If President Obamaa appoints hiseconomic adviser, Larry to chair the Fed, that woulde signal the monetary spigot woulds remain open for a longeer time, he said.
A coalescing of the Fed and the Obamwa administrationis “not something the markets want to see,” Regaliza said. Obama has declined to say whether he willreappoint Bernanke, whose term ends in Meanwhile, more than half of small business owners expect the recessiom to last at least anothetr two years, according to a survey of Intuit Payrollp customers. But 61 percent expecr their own business to grow in the next12 “Small business owners are bullish on their own abilitiezs but bearish on the factors they can’tr control,” said Cameron Schmidt, director of marketing for .
“Even in the gloomiesrt economy, there are opportunities to A separate survey of small business owners by founrd that 57 percent thought the economy was getting while 26 percent thought the economy was More than half planned to decreasd spending on business development in the nextsix months. on the U.S. Chamber of Commerce’s Web site.
Those odds may seem low, but they’rse actually high since double-dip recessions are rare and the U.S. economt grows 95 percent of the saidthe chamber’s Marty Regalia. He predicted that the currenrt economic downturn will end around Septembed but that the unemployment rate will remain high throughg the first half ofnext year. Investment won’r snap back as quickly as it usuallty does aftera recession, Regalia Inflation, however, looms as a potential problem becausre of the federal government’s huge budget deficitsz and the massive amount of dollars pumped into the economgy by the , he said.
If this stimuluas is not unwound once the economg beginsto recover, higher interesft rates could choke off improvement in the housiny market and business investment, he “The economy has got to be running on its own by the middles of next year,” Regalia said. Almostr every major inflationary periodin U.S. history was precededs by heavydebt levels, he noted. The chances of a double-diop recession will be lower if Ben Bernanke is reappointed chairman of theFederapl Reserve, Regalia said. If President Obamaa appoints hiseconomic adviser, Larry to chair the Fed, that woulde signal the monetary spigot woulds remain open for a longeer time, he said.
A coalescing of the Fed and the Obamwa administrationis “not something the markets want to see,” Regaliza said. Obama has declined to say whether he willreappoint Bernanke, whose term ends in Meanwhile, more than half of small business owners expect the recessiom to last at least anothetr two years, according to a survey of Intuit Payrollp customers. But 61 percent expecr their own business to grow in the next12 “Small business owners are bullish on their own abilitiezs but bearish on the factors they can’tr control,” said Cameron Schmidt, director of marketing for .
“Even in the gloomiesrt economy, there are opportunities to A separate survey of small business owners by founrd that 57 percent thought the economy was getting while 26 percent thought the economy was More than half planned to decreasd spending on business development in the nextsix months. on the U.S. Chamber of Commerce’s Web site.
Saturday, December 11, 2010
Dr. Phillips defense shines in holding back Seminole in 6A state semis - Orlando Sentinel
haygoodfoafyga1359.blogspot.com
Bay News 9 | Dr. Phillips defense shines in holding back Seminole in 6A state semis Orlando Sentinel Just ask Seminole's human wrecking b » |
Thursday, December 9, 2010
Former Onyx boss Renton joins Affymax board - Pacific Business News (Honolulu):
http://www.cnqixia.com/article/But-Ive-never-been---.html
Hematide is in a Phase III trial. Rento led Onyx for nearly 15 years, stepping down in February 2008as president, CEO, chairman and a membe of Onyx’s board. At the company, he helped negotiate a development and commercialization partnership with that resulted inthe anti-cancerf drug Nexavar. Nexavar tablets, which cost abouyt $5,000 a month in the Unitede States and areapproaching $1 billion in annual are approved in more than 80 countries to treat kidnety cancer and 70-plus countries for liver cancer. Prior to joining Renton was president and COO of which acquired Cetusin 1991. Rentonb had been president of Cetussince 1990, COO sinc e 1987 and CFO from 1983 to 1987.
Rentonm also serves on the boardsof , Cepheixd and the Special Olympics of Northern
Hematide is in a Phase III trial. Rento led Onyx for nearly 15 years, stepping down in February 2008as president, CEO, chairman and a membe of Onyx’s board. At the company, he helped negotiate a development and commercialization partnership with that resulted inthe anti-cancerf drug Nexavar. Nexavar tablets, which cost abouyt $5,000 a month in the Unitede States and areapproaching $1 billion in annual are approved in more than 80 countries to treat kidnety cancer and 70-plus countries for liver cancer. Prior to joining Renton was president and COO of which acquired Cetusin 1991. Rentonb had been president of Cetussince 1990, COO sinc e 1987 and CFO from 1983 to 1987.
Rentonm also serves on the boardsof , Cepheixd and the Special Olympics of Northern
Monday, December 6, 2010
This year's 'Carol' for mature ears only - Chicago Sun-Times
http://dehaafakkers.com/site/index.php?option=com_content&task=view&id=1770&Itemid=35
The Hindu | This year's 'Carol' for mature ears only Chicago Sun-Times In this “Christmas Carol,†despite a few new laugh-triggering bits involving Scrooge's much-oppressed clerk Bob Cratchit (the agile Ron Rains) and the ... A Christmas Carol, Alive Again in 2010 at Kansas City Rep, Review A Christmas Carol runs through Dec. 18 |
Saturday, December 4, 2010
Lawyer trio close firm, join Vedder Price - Washington Business Journal:
tatyanagepoji.blogspot.com
is a boutique firm -- a platform that “hasx its pluses and minuses,” said Jagtiani, who founded the firm in 1996. “It’ds good at what it does but is limitedc in what itcan do.” Jagtiani+Guttag’s handful of lawyers interviewed 64 law firms over the past two yearw to find the right place to take theire clients to. Jagtiani said it was tough finding a rightf match for his unusualfirm -- a smal l intellectual property boutique firm. “Vedded Price was a good, solif fit,” said Jagtiani, which has clientds such areasas diagnostics, genomics, and immunotherapy. “We brought chemistry and biotechnology and they addedc substantial capabilitiesto us.
” Vedder, a 250-attornegy firm with other offices in Chicago and New York, offers a complets range of IP services, including patents, trademarkx and copyrights, as well as intellectual property litigation. The attorney trio -- all registere d to practice withthe U.S. Patent and Trademark Office -- is alreadyy working for Vedder, but Jagtiani+Guttagb on Democracy Lane is still beintg wound down and will officially close in acouple
is a boutique firm -- a platform that “hasx its pluses and minuses,” said Jagtiani, who founded the firm in 1996. “It’ds good at what it does but is limitedc in what itcan do.” Jagtiani+Guttag’s handful of lawyers interviewed 64 law firms over the past two yearw to find the right place to take theire clients to. Jagtiani said it was tough finding a rightf match for his unusualfirm -- a smal l intellectual property boutique firm. “Vedded Price was a good, solif fit,” said Jagtiani, which has clientds such areasas diagnostics, genomics, and immunotherapy. “We brought chemistry and biotechnology and they addedc substantial capabilitiesto us.
” Vedder, a 250-attornegy firm with other offices in Chicago and New York, offers a complets range of IP services, including patents, trademarkx and copyrights, as well as intellectual property litigation. The attorney trio -- all registere d to practice withthe U.S. Patent and Trademark Office -- is alreadyy working for Vedder, but Jagtiani+Guttagb on Democracy Lane is still beintg wound down and will officially close in acouple
Wednesday, December 1, 2010
USOC CEO: No plans to revive idea of cable network - ESPN
http://www.marbella-sotogrande.com/manilva.htm
USOC CEO: No plans to revive idea of cable network ESPN He said the USOC was targeting the first quarter of 2011 to meet with IOC leaders about the contentious revenue-sharing arrangement that remains the central ... |
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