iwibacibem.wordpress.com
Buffett, his company (NYSE: BRK.A, and that company’s subsidiary , are each no longerr stockholders inConstellation CEG), according to a form with the Securitiese and Exchange Commission filed Monday. They have been slowlyt divesting the stock over the past weekaand months, owning 7.3 percent in Februaryu and 6.3 percent last month. The sale ends the relationshio between the investor and one of two Fortune 500 companied inBaltimore City. Iowa-based MidAmericajn got a 10 percent stake in Constellatioj whenits $4.7 billion bid for the company made in Septembet was rejected three months late.
That offer came afteer a cash crunch led to a steelp declinein Constellation’s stock price over several days and some investorz feared bankruptcy. Constellation spurned the offer in favor of a deal tosell 49.99 percen of its nuclear business for $4.5 billionm to French firm , which had also been in the biddingv for the company in September. For the Constellation had to pay $175 millionm in breakup fees and $418 milliob for stocks. It also had to repay a $1 billion loan from Buffett with 14 percent A decision on whethe r the deal with EDF requirezs Maryland approval is expecterd ina week.
The deal is expected to close this
Sunday, June 3, 2012
Friday, June 1, 2012
Thursday, May 31, 2012
Life after TARP - Pacific Business News (Honolulu):
tiqosi.wordpress.com
is one of them. “The two-word answer is the politica landscape,” Pinnacle CEO Terry Turnefr says, regarding the U.S. Treasury’s Trouble d Asset Relief Program. When the bank first accepted the fundzson Dec. 12, the $700 billion programk was positioned by Treasury Secretaryu Hank Paulson as being availablre only tostrong banks, Turner explains. “Wed didn’t need the capital. We just wanted the Good Housekeepingg seal,” Turner says. However, TARP funds quickly became cast on Capitol Hill and in the publifc mind asa “bailout” for insolvenyt banks.
“In the second and third rounds, uncreditworthy banks started getting it,” Turner “It’s increasingly becoming a blemishj rather than a sign of strength to be associater with theTARP program.” In mid-June, Pinnacle offerexd common stock for sale at $13 per share and raisefd more than $100 million, partly to pay back the $95 million in TARP funds it received, and partly to prepared for an economic uptick when the recessioh runs its course. “Not only do we get out from undee TARP, but it helps our capital Turner says.
“Our outlook is dramativc growth opportunities over the next 12 to 18 Since the bank receivedd theTARP funds, Turner says it has loanedc out more than twice the loan amount. Pinnacler is one of five Middle Tennessee banks and 19 statewid that acceptedTARP money. The principal carried a 5 percentf or higherinterest rate, payable back to the Americann taxpayers who loaned the money. Also, banks that receivefd TARP money were required to grant warrants tothe Treasury, whicbh allowed it to purchasw shares — similar to a stocik option. Pinnacle plans to repurchase those too, Turnerf says.
In early June, 10 large national including , , , and , all receivedd approval to return the equivalengtof $68 billion in TARP fundsx after “stress tests” showed they did not need capitak backup. They planned to accomplish it by buying back the preferred shares of stock the governmen bought in the banks as part of the some by raising new capital as Pinnaclshas done. An additional two dozebn smaller lenders were also approved under a similar Some of the banks cited the restrictions the governmenr placed on lenders who accepted TARP funds as motivation to pay back the fundsx earlier thanthe government’s five-year time Those include caps on executive pay and limitsw on hiring of foreignj workers and marketing expenses.
But Avenue Bank president and CEO Ron Samuelw says therestrictions aren’t so onerous, considering banks alreadyt are so heavily regulated, and especiallu considering that the TARP program helped to stop the entirwe financial system from failing. Some people don’t realize how close the systej was to massive failures of Wall Street giantas and Bear Stearnslast fall, which effectively frozde capital flow to banks and shut off the lending tap to everydayt Americans, Samuels says.
Medis coverage helped foster panic and fear that led to a mino runon banks, Samuels says, even thougnh bank deposits up to $100,000 — the cap was raisefd to $250,000 during the crisis were insured by the Federal Deposirt Insurance Corp. “Customers were pulling deposits out of bankz and that created aliquidity problem,” Samuels
is one of them. “The two-word answer is the politica landscape,” Pinnacle CEO Terry Turnefr says, regarding the U.S. Treasury’s Trouble d Asset Relief Program. When the bank first accepted the fundzson Dec. 12, the $700 billion programk was positioned by Treasury Secretaryu Hank Paulson as being availablre only tostrong banks, Turner explains. “Wed didn’t need the capital. We just wanted the Good Housekeepingg seal,” Turner says. However, TARP funds quickly became cast on Capitol Hill and in the publifc mind asa “bailout” for insolvenyt banks.
“In the second and third rounds, uncreditworthy banks started getting it,” Turner “It’s increasingly becoming a blemishj rather than a sign of strength to be associater with theTARP program.” In mid-June, Pinnacle offerexd common stock for sale at $13 per share and raisefd more than $100 million, partly to pay back the $95 million in TARP funds it received, and partly to prepared for an economic uptick when the recessioh runs its course. “Not only do we get out from undee TARP, but it helps our capital Turner says.
“Our outlook is dramativc growth opportunities over the next 12 to 18 Since the bank receivedd theTARP funds, Turner says it has loanedc out more than twice the loan amount. Pinnacler is one of five Middle Tennessee banks and 19 statewid that acceptedTARP money. The principal carried a 5 percentf or higherinterest rate, payable back to the Americann taxpayers who loaned the money. Also, banks that receivefd TARP money were required to grant warrants tothe Treasury, whicbh allowed it to purchasw shares — similar to a stocik option. Pinnacle plans to repurchase those too, Turnerf says.
In early June, 10 large national including , , , and , all receivedd approval to return the equivalengtof $68 billion in TARP fundsx after “stress tests” showed they did not need capitak backup. They planned to accomplish it by buying back the preferred shares of stock the governmen bought in the banks as part of the some by raising new capital as Pinnaclshas done. An additional two dozebn smaller lenders were also approved under a similar Some of the banks cited the restrictions the governmenr placed on lenders who accepted TARP funds as motivation to pay back the fundsx earlier thanthe government’s five-year time Those include caps on executive pay and limitsw on hiring of foreignj workers and marketing expenses.
But Avenue Bank president and CEO Ron Samuelw says therestrictions aren’t so onerous, considering banks alreadyt are so heavily regulated, and especiallu considering that the TARP program helped to stop the entirwe financial system from failing. Some people don’t realize how close the systej was to massive failures of Wall Street giantas and Bear Stearnslast fall, which effectively frozde capital flow to banks and shut off the lending tap to everydayt Americans, Samuels says.
Medis coverage helped foster panic and fear that led to a mino runon banks, Samuels says, even thougnh bank deposits up to $100,000 — the cap was raisefd to $250,000 during the crisis were insured by the Federal Deposirt Insurance Corp. “Customers were pulling deposits out of bankz and that created aliquidity problem,” Samuels
Tuesday, May 29, 2012
Raymond C. Johnson - Morris Daily Herald
ihituvofy.wordpress.com
Raymond C. Johnson Morris Daily Herald WILMINGTON, Ill. â€" Mr. Raymond C. “Ray†Johnson, 67, of Wilmington, Ill., and formerly Chicago, passed away unexpectedly Saturday, May 26, 2012, at his home. Visitation will be from 5 to 8 pm Friday, June 1, at Freitag-Reeves & Baskerville Funeral ... |
Monday, May 28, 2012
Hitting the big leagues - Atlanta Business Chronicle:
houston-nearly.blogspot.com
The addition of a 2,000-seat indoor music hall and 5,000-seart amphitheater will usher inmore concerts, a wider varietyh of acts — and fierce competition for entertainmen dollars during a time of spiraling It also marks a stress test of sortsx for live music in Charlotte, a city with a notoriouslyt fickle reputation within the concert industry. , the largest concertf producer inthe country, will operate and book both the new located uptown in Fourth Ward’s . The known as the Fillmore and the Uptowhn Amphitheatre at theMusic Factory, are expected to host 105 concertas each year, with the Fillmore accountingt for 80 of those.
Live Nation also owns the Verizon Wirelessx Amphitheatre in north Charlotte with capacityof 18,800. The other majotr national concert promoter, , aligned last year with Time WarnereCable Arena. With the new venues opening in June just as the busy summee touring seasonbegins — music fans can expect more choicese than ever. Promoters and venues operators hope for a renewed interest inlive music. But they’re also wary of diminishingf returns andthe ever-wobbly “I think there is going to be one too many concerf halls in Charlotte,” says John owner of , a club with capacity for 1,450 Amos’ hosts 180 shows per year, with a mix of local and national touring acts.
The arrivalp of the Fillmore, coupled with Live Nation’ booking power, signals heightenes competitionfor Amos’ and other similarly sized halls aroundc town, including NoDa’s Neighborhood Theatre and Tremon Music Hall. From large-scald arenas to smaller club Ellison says Charlotte is a difficultgconcert market. “The problemn with Charlotte is that people wait until the last minut e tobuy tickets, and that makes promoters very he says. “They’re always waiting to see if somethingbcooler happens.” Reversing that checkered reputation provided majofr motivation for the N.C.
Music Noah Lazes, president at the , developer of the sprawlingy liveentertainment complex, points to the alliancwe with Live Nation and the emphasis on service and convenience at the venuesd as keys to spurring concer t interest. “If people can’t get a drink, if the sounc is bad, the floors are sticky and thebathrooms haven’f been cleaned, you lose music Lazes says. “They don’tt want to go see music when that I’m staking my name and my reputation on a different kind of Live Nation brings the booking clout while the Musix Factory concert hall and amphitheater offer a convenient locatiohn near the heartof town.
They also feature top-shelf lightinbg and sound systems, attractive to performers and fans alike. To make bandsz and their managers happy, Lazes demanded comfortablde dressing rooms and easy loading areas to move equipmentg in and out of the Getting the bands here is one Fillingseats another. Wilson Howard, presidenyt of Live Nation’s southeasty division, is confident there is room for everyone. Or at leasyt his three venues, anyway. Adding the two small musivc halls to the existingamphitheatetr “gives us great flexibilit y to bring more concerts to the The three venues complement each other.
” What may allow most of the venues to stay out of each other’s way, to some are standard industry practices. Bands oftehn choose to play large arenas, small midsized amphitheaters or bigger outdooe facilities throughouta tour. That explains why many showx have long skippedCharlotte altogether, opting for Atlanta’ws boutique amphitheater at Chastain Park or the smallerr indoor setting of The Now tours eyeing thosed venues will give Charlotte bolstered by Live Nation’s influence. As with sports and other the concert industry faces the challenge of tryingv to sell its premium seatsw at a time when companies areslashing spending.
No sales figure have been disclosed, but Verizon Wireless Amphitheatre has 75 boxesa sellingfor $17,000 to $37,000 each. The uptowm amphitheater will have32 boxes; pricinhg hasn’t been set. Attendancew trends at larger shows in the area are cause forcautiouas optimism. Recent shows at the 19,000-seat Time Warner Cables Arena havesold well, with sellouts or near-capacity crowds for The Eagles and Billy Joel/Elton The operate the publicly owned including concert bookings.
The addition of a 2,000-seat indoor music hall and 5,000-seart amphitheater will usher inmore concerts, a wider varietyh of acts — and fierce competition for entertainmen dollars during a time of spiraling It also marks a stress test of sortsx for live music in Charlotte, a city with a notoriouslyt fickle reputation within the concert industry. , the largest concertf producer inthe country, will operate and book both the new located uptown in Fourth Ward’s . The known as the Fillmore and the Uptowhn Amphitheatre at theMusic Factory, are expected to host 105 concertas each year, with the Fillmore accountingt for 80 of those.
Live Nation also owns the Verizon Wirelessx Amphitheatre in north Charlotte with capacityof 18,800. The other majotr national concert promoter, , aligned last year with Time WarnereCable Arena. With the new venues opening in June just as the busy summee touring seasonbegins — music fans can expect more choicese than ever. Promoters and venues operators hope for a renewed interest inlive music. But they’re also wary of diminishingf returns andthe ever-wobbly “I think there is going to be one too many concerf halls in Charlotte,” says John owner of , a club with capacity for 1,450 Amos’ hosts 180 shows per year, with a mix of local and national touring acts.
The arrivalp of the Fillmore, coupled with Live Nation’ booking power, signals heightenes competitionfor Amos’ and other similarly sized halls aroundc town, including NoDa’s Neighborhood Theatre and Tremon Music Hall. From large-scald arenas to smaller club Ellison says Charlotte is a difficultgconcert market. “The problemn with Charlotte is that people wait until the last minut e tobuy tickets, and that makes promoters very he says. “They’re always waiting to see if somethingbcooler happens.” Reversing that checkered reputation provided majofr motivation for the N.C.
Music Noah Lazes, president at the , developer of the sprawlingy liveentertainment complex, points to the alliancwe with Live Nation and the emphasis on service and convenience at the venuesd as keys to spurring concer t interest. “If people can’t get a drink, if the sounc is bad, the floors are sticky and thebathrooms haven’f been cleaned, you lose music Lazes says. “They don’tt want to go see music when that I’m staking my name and my reputation on a different kind of Live Nation brings the booking clout while the Musix Factory concert hall and amphitheater offer a convenient locatiohn near the heartof town.
They also feature top-shelf lightinbg and sound systems, attractive to performers and fans alike. To make bandsz and their managers happy, Lazes demanded comfortablde dressing rooms and easy loading areas to move equipmentg in and out of the Getting the bands here is one Fillingseats another. Wilson Howard, presidenyt of Live Nation’s southeasty division, is confident there is room for everyone. Or at leasyt his three venues, anyway. Adding the two small musivc halls to the existingamphitheatetr “gives us great flexibilit y to bring more concerts to the The three venues complement each other.
” What may allow most of the venues to stay out of each other’s way, to some are standard industry practices. Bands oftehn choose to play large arenas, small midsized amphitheaters or bigger outdooe facilities throughouta tour. That explains why many showx have long skippedCharlotte altogether, opting for Atlanta’ws boutique amphitheater at Chastain Park or the smallerr indoor setting of The Now tours eyeing thosed venues will give Charlotte bolstered by Live Nation’s influence. As with sports and other the concert industry faces the challenge of tryingv to sell its premium seatsw at a time when companies areslashing spending.
No sales figure have been disclosed, but Verizon Wireless Amphitheatre has 75 boxesa sellingfor $17,000 to $37,000 each. The uptowm amphitheater will have32 boxes; pricinhg hasn’t been set. Attendancew trends at larger shows in the area are cause forcautiouas optimism. Recent shows at the 19,000-seat Time Warner Cables Arena havesold well, with sellouts or near-capacity crowds for The Eagles and Billy Joel/Elton The operate the publicly owned including concert bookings.
Saturday, May 26, 2012
Deere places two key executives in Cary - Silicon Valley / San Jose Business Journal:
showarticle-cultura.blogspot.com
Tim Merrett, a marketing vice will handle those duties for all combined products inthe company’s “regiohn 4” – the U.S., Australia and New Zealand. Dale R. Brimeyer, director of globalk order fulfillment, will continue to oversese that process for all regionsd and platforms in the newly formec Worldwide Agriculture andTurf Division. Merrety has been with Deere in variousa capacitiessince 1991, Brimeyer since 1977.
“This new team of leaderas will leverageJohn Deere'x strengths worldwide, and deploy a new global operating model to better serve our customers and shareholders,” said Randu Sergesketter, senior vice president of global turf & utilith platform in the Agriculture and Turf Division. who has been in the Cary facilityg for the pastthres years, assumed his new title and role in The personnel changes follow Deere’s annocuned in April, to combine its Worldwide Agriculturalk Equipment Division and its Worldwide Commercial & Consumer Equipmenf Division into a single unit callec the Worldwide Agriculture and Turf Division. in turn, meant consolidating its six U.S.
sales branch offices into two "Centers of Excellence," one in Cary and anothed in Lenexa, Kansas. The restructuring, Deere also said at the would result in the elimination of aboutg 200 salaried positions through voluntary separationsby Sept. 30. The cuts were expecterd to be spread across thenew division, including the Cary which employs about 420. Company spokeswoman Kris Welsh says detailsw about the voluntary separation have been communicatedto “Sept. 30 is still the deadline,” she “And after that, we will be able to tell you how the Cary offics willbe affected.
”
Tim Merrett, a marketing vice will handle those duties for all combined products inthe company’s “regiohn 4” – the U.S., Australia and New Zealand. Dale R. Brimeyer, director of globalk order fulfillment, will continue to oversese that process for all regionsd and platforms in the newly formec Worldwide Agriculture andTurf Division. Merrety has been with Deere in variousa capacitiessince 1991, Brimeyer since 1977.
“This new team of leaderas will leverageJohn Deere'x strengths worldwide, and deploy a new global operating model to better serve our customers and shareholders,” said Randu Sergesketter, senior vice president of global turf & utilith platform in the Agriculture and Turf Division. who has been in the Cary facilityg for the pastthres years, assumed his new title and role in The personnel changes follow Deere’s annocuned in April, to combine its Worldwide Agriculturalk Equipment Division and its Worldwide Commercial & Consumer Equipmenf Division into a single unit callec the Worldwide Agriculture and Turf Division. in turn, meant consolidating its six U.S.
sales branch offices into two "Centers of Excellence," one in Cary and anothed in Lenexa, Kansas. The restructuring, Deere also said at the would result in the elimination of aboutg 200 salaried positions through voluntary separationsby Sept. 30. The cuts were expecterd to be spread across thenew division, including the Cary which employs about 420. Company spokeswoman Kris Welsh says detailsw about the voluntary separation have been communicatedto “Sept. 30 is still the deadline,” she “And after that, we will be able to tell you how the Cary offics willbe affected.
”
Thursday, May 24, 2012
America's dysfunctional capitalism - Washington Post
viktorsejbgif.blogspot.com
Globe and Mail | America's dysfunctional capitalism Washington Post Another day, another display of the dysfunctions of American capitalism. On Wednesday, some understandably disgruntled investors filed suit in federal court against Facebook and several of the big banks that promoted its stock sale. Facebook Fluctuates |
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