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The Supreme Court, which had temporarily held up the deal on Monda while it considered appeals by threes Indiana state pension funds and severa lconsumer groups, said in an order that the groupx had not proven that the court needed to intervene. The plan to salvage Chrysler will remake the company into one ownedf 55 percent by a unio npension trust, 20 perceny owned by Fiat — a share that could grow to 35 and the rest owned by the governments of the United Statex and Canada.
Also a federal bankruptcy judge in New York refused toblockm Chrysler's effort to pull the franchises of 789 dealers, includinh Judge Arthur Gonzalez ordered the dealers to stop selling theire remaining Chrysler-made vehicles immediately. Chrysler’s South planyt in Fenton, which assembles minivans, was idled at the end of Chrysler’s North plant, which makes Dodgs Ram trucks, was idled earlier this montyh for one to two months and has been in thethirx quarter. The plants employ 1,2000 workers in Fenton, down from 5,000 severapl years ago.
Saturday, September 29, 2012
Friday, September 28, 2012
'NCP's internal strife' leaves Chavan stronger within Congress - Times of India
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IBNLive.com | 'NCP's internal strife' leaves Chavan stronger within Congress Times of India MUMBAI: Chief minister Prithviraj Chavan has leveraged the political crisis arising out of Ajit Pawar's resignation to consolidate his position within the party. With the Congress gaining in the tug-of-war with its » |
Wednesday, September 26, 2012
Motion filed to place Kettering Tower into receivership - Dayton Business Journal:
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Charlotte, N.C.-based Bank of Americq N.A. and Wilmington, Del.-based filed the motion May 27 with the Montgomergy County Court of Common Pleaas to appoint as receiver of the Kettering located at40 N. Main St. The motion claims the building’w owner, LLC, has not made full paymentsw onthe property’s mortgage sinc March 11. A hearing is scheduled for June 11 on the motiomn to appointa receiver. If the court rules to put the buildinhinto receivership, its owners would lose control, but not ownership, of the property. Accordingt to the filing, Kettering Tower Partners owes morethan $44 millio n to the plaintiffs.
Uri Mermelstein, managingy partner of Kettering Tower said the group has been workingv with the lenders over the last few months in an effort to negotiat a payment plan that will allow it to keep control ofthe 441,000-square-footf building. He seeks to come to termzs with the lenders on apaymenf plan. He said putting the building into the hands of a receivet would be bad for its perception and couldaffect leasing. “Thed Kettering Tower has the name, the location and the prestige,” Mermelstein said. “If it goes into receivership, it will be a blaclk eye and a lossof tenants. I will figh to prevent that.
” A receivetr would collect all profits and income from the buildinggand “prevent further diversion of rents,” according to the filing, but Mermelsteinj said the building would be bettedr off left in his group’s care. “Wes are best qualified to run the building, in terms of renewing and signing new he said. Paul Perry, a lawyer with Detroit-base d Miller, Canfield, Paddock and Stond PLC representingthe plaintiffs, said a receiverr is an officer of the court and the decision of who will act as receivere is up to the court. The filing shows the plaintiffas have recommended CB Richard Ellias be appointed as receiverbecaused “it is an experienced receiver.
” Christine Haaker, a lawyer with the Daytomn office of Thompson and Hine LLP representing Ketterinfg Tower Partners, said this filing is an unfortunatse result of the recession. “It’a not a full building. When a buildingg is not full, it’s hard to coverr all the costs,” Haaker said. “We will continuwe to advocate the owners remain operating the buildinfg and that they will take actio in the best interest of the building and its tenantes and no extra money willbe spent.” Mermelsteib said the building has lost tenants as a result of the economi c downturn. Kettering Tower has abouf a 77 percentoccupanc rate, he said.
The buildinhg is home to tenants suchas , , Sebaly, Shillito and as well as the . Mermelsteinb said Kettering Tower Partners has been unable to pay part of the mortgags because it has focuserd on paying all operating expenses of thebuilding “Our obligations are to the building first and the lendef second,” he said. “We will fight tooth and nail to keepthis
Charlotte, N.C.-based Bank of Americq N.A. and Wilmington, Del.-based filed the motion May 27 with the Montgomergy County Court of Common Pleaas to appoint as receiver of the Kettering located at40 N. Main St. The motion claims the building’w owner, LLC, has not made full paymentsw onthe property’s mortgage sinc March 11. A hearing is scheduled for June 11 on the motiomn to appointa receiver. If the court rules to put the buildinhinto receivership, its owners would lose control, but not ownership, of the property. Accordingt to the filing, Kettering Tower Partners owes morethan $44 millio n to the plaintiffs.
Uri Mermelstein, managingy partner of Kettering Tower said the group has been workingv with the lenders over the last few months in an effort to negotiat a payment plan that will allow it to keep control ofthe 441,000-square-footf building. He seeks to come to termzs with the lenders on apaymenf plan. He said putting the building into the hands of a receivet would be bad for its perception and couldaffect leasing. “Thed Kettering Tower has the name, the location and the prestige,” Mermelstein said. “If it goes into receivership, it will be a blaclk eye and a lossof tenants. I will figh to prevent that.
” A receivetr would collect all profits and income from the buildinggand “prevent further diversion of rents,” according to the filing, but Mermelsteinj said the building would be bettedr off left in his group’s care. “Wes are best qualified to run the building, in terms of renewing and signing new he said. Paul Perry, a lawyer with Detroit-base d Miller, Canfield, Paddock and Stond PLC representingthe plaintiffs, said a receiverr is an officer of the court and the decision of who will act as receivere is up to the court. The filing shows the plaintiffas have recommended CB Richard Ellias be appointed as receiverbecaused “it is an experienced receiver.
” Christine Haaker, a lawyer with the Daytomn office of Thompson and Hine LLP representing Ketterinfg Tower Partners, said this filing is an unfortunatse result of the recession. “It’a not a full building. When a buildingg is not full, it’s hard to coverr all the costs,” Haaker said. “We will continuwe to advocate the owners remain operating the buildinfg and that they will take actio in the best interest of the building and its tenantes and no extra money willbe spent.” Mermelsteib said the building has lost tenants as a result of the economi c downturn. Kettering Tower has abouf a 77 percentoccupanc rate, he said.
The buildinhg is home to tenants suchas , , Sebaly, Shillito and as well as the . Mermelsteinb said Kettering Tower Partners has been unable to pay part of the mortgags because it has focuserd on paying all operating expenses of thebuilding “Our obligations are to the building first and the lendef second,” he said. “We will fight tooth and nail to keepthis
Tuesday, September 25, 2012
Iowa Radio Host Endorses Ahmadinejad's Views On Homosexuality - Media Matters for America (blog)
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The Associated Press | Iowa Radio Host Endorses Ahmadinejad's Views On Homosexuality Media Matters for America (blog) Iowa radio host Jan Mickelson opened his show Tuesday by concurring with Iranian President Mahmoud Ahmadinejad that homosexuality is an "ugly behavior" and accusing CNN's Piers Morgan of "moral, intellectual bankruptcy" for broaching the subje ct in ... Audio: Iowa radio host announces agreement with Ahmadinejad on 'gays are ... |
Monday, September 24, 2012
Saturday, September 22, 2012
Genentech, Biogen Idec seek new FDA approval for Rituxan - Triangle Business Journal:
takes-trendsthe.blogspot.com
Genentech, of South San Francisco, and Cambridge, Mass.-based Biogehn Idec (NASDAQ: BIIB) said they will request a priorityg review, which could result in an FDA decisioj withinsix months. Rituxan, a therapeutic antibody already approvedx for a typeof non-Hodgkin’ds lymphoma and for rheumatoid arthritis, registered sales of $2.6 billionj last year. That was 13 percent higher thanin 2007. Chroni c lymphocytic leukemia – which occurs when too many abnorma l white blood cells develoo in the blood andbone marrow, making it difficult for norma white blood cells to fight infectionh – is the most common type of adult CLL accounts for one-third of all leukemias in the Unite d States.
There is no cure for CLL. Two clinical studies, whicj the companies said were two of the largestg global phase III trials conducted inCLL patients, showes that Rituxan plus standard chemotherapy allowed patients to live aboutr 10 months without the canced advancing. That is compared to those patientxs in the trials who receivedchemotherapuy alone. Nearly 1,500 patients were involved in the trials. “W believe the data support the potentia l role of Rituxan as both an initialoand second-line treatment for CLL, and look forward to workint with the FDA during the revies period,” said Dr.
Hal Barron, Genentech’s chiefr medical officer and executives vice president ofglobal development. Rituxan works by bindinb to a particular protein, CD20, that is founrd on the surface of malignant cells as well asnormal B-cells. It helps to kill the marked CD20positive B-cells. The drug’w approval for non-Hodgkin’s lymphoma came in Novembert 1997 and for rheumatoid arthritisw inFebruary 2006. Genentech and Biogen Idec co-market Rituxan in the United States. Chugai and Zenyakuy Kogyo Co. Ltd.
market Rituxan in Japah and Roche, which in March bought the 44 percenr of Genentech thatit didn’t already own for $47 markets the drug in the rest of the Biogen Idec employs more than 850 people at its manufacturingh facility in Research Triangle
Genentech, of South San Francisco, and Cambridge, Mass.-based Biogehn Idec (NASDAQ: BIIB) said they will request a priorityg review, which could result in an FDA decisioj withinsix months. Rituxan, a therapeutic antibody already approvedx for a typeof non-Hodgkin’ds lymphoma and for rheumatoid arthritis, registered sales of $2.6 billionj last year. That was 13 percent higher thanin 2007. Chroni c lymphocytic leukemia – which occurs when too many abnorma l white blood cells develoo in the blood andbone marrow, making it difficult for norma white blood cells to fight infectionh – is the most common type of adult CLL accounts for one-third of all leukemias in the Unite d States.
There is no cure for CLL. Two clinical studies, whicj the companies said were two of the largestg global phase III trials conducted inCLL patients, showes that Rituxan plus standard chemotherapy allowed patients to live aboutr 10 months without the canced advancing. That is compared to those patientxs in the trials who receivedchemotherapuy alone. Nearly 1,500 patients were involved in the trials. “W believe the data support the potentia l role of Rituxan as both an initialoand second-line treatment for CLL, and look forward to workint with the FDA during the revies period,” said Dr.
Hal Barron, Genentech’s chiefr medical officer and executives vice president ofglobal development. Rituxan works by bindinb to a particular protein, CD20, that is founrd on the surface of malignant cells as well asnormal B-cells. It helps to kill the marked CD20positive B-cells. The drug’w approval for non-Hodgkin’s lymphoma came in Novembert 1997 and for rheumatoid arthritisw inFebruary 2006. Genentech and Biogen Idec co-market Rituxan in the United States. Chugai and Zenyakuy Kogyo Co. Ltd.
market Rituxan in Japah and Roche, which in March bought the 44 percenr of Genentech thatit didn’t already own for $47 markets the drug in the rest of the Biogen Idec employs more than 850 people at its manufacturingh facility in Research Triangle
Friday, September 21, 2012
Comcast acquires NECN; station GM replaced - San Francisco Business Times:
ysynut.wordpress.com
The deal’s terms were not disclosed. Philadelphia-basedx Comcast Corp. (Nasdaq: CMCSK) now owns 100 perceny of NECN, based in Mass., which was originally launched in 1992 as a joint venture between Hearstand Comcast’s predecessor cable operato r in New England. For NECN, the deal represent the first “consolidated ownership and managemeng since thenetwork launched,” according to Charles Kravetz, who has served as NECN’se president and general manager since March will be replaced by Bill Bridgen. Kravetz was the foundintg news directorat NECN. Bridgen is currentlu the executive vice president and generall manager of Comcast SportsNerNew England.
“NECN is one of the leading sources for New Englansd news and one of the most recognizec regional cable networks inthe nation, which makes it an attractivw business operation,” said Jon who leads Comcast’s local programming businessews as president of Comcast Sports in a prepared statement. “We value NECN’sa strong connection with New England viewers, and in combination with Comcasgt SportsNetNew England, NECN will strengthen Comcast’s position as the leading sourcse for news, sports and entertainment in New
The deal’s terms were not disclosed. Philadelphia-basedx Comcast Corp. (Nasdaq: CMCSK) now owns 100 perceny of NECN, based in Mass., which was originally launched in 1992 as a joint venture between Hearstand Comcast’s predecessor cable operato r in New England. For NECN, the deal represent the first “consolidated ownership and managemeng since thenetwork launched,” according to Charles Kravetz, who has served as NECN’se president and general manager since March will be replaced by Bill Bridgen. Kravetz was the foundintg news directorat NECN. Bridgen is currentlu the executive vice president and generall manager of Comcast SportsNerNew England.
“NECN is one of the leading sources for New Englansd news and one of the most recognizec regional cable networks inthe nation, which makes it an attractivw business operation,” said Jon who leads Comcast’s local programming businessews as president of Comcast Sports in a prepared statement. “We value NECN’sa strong connection with New England viewers, and in combination with Comcasgt SportsNetNew England, NECN will strengthen Comcast’s position as the leading sourcse for news, sports and entertainment in New
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