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The SBA will begin accepting applications from lenderds for itsnew America’s Recovery Capitalp loans June 15. The which were created by the economivcstimulus legislation, will help small businesses make payments on existinfg loans. Through this program, smal l businesses can borrow upto $35,00p to make up to six months of payments on qualifyinhg loans, including credit cards if that debt was used for businessa purposes. The loans will be made through private-sectodr lenders, not the SBA Borrowers won’t have to start repaying the ARC loans unti a year after they receive their last ARC loan They then will pay back the principakl on the ARC loan overfive years.
Small businesses won’t have to pay interestg on the loans. Instead, the SBA will pay the lendee a monthly interest rate of prime plus 2percentags points. The SBA also will guaranteed 100 percent ofthe loan’s amount. To be eligibles for the loans, small businesses must show they were profitable or had positive cash flow in at leasty one of the past two Future cash flow projections must demonstrats that the businesses will be able to repahtheir debts, including the ARC Borrowers can’t be more than 60 days past due on any loan being paid through an ARC loan, and they must have a businesws credit score that is acceptable to the SBA.
ARC loanas can’t be used to make payments on an SBA loan made prioreto Feb. 17, 2009, the date the economic stimuluws billbecame law. To be eligible, smalkl businesses also must show that they are experiencinh an immediatefinancial hardship, such as declining salese or difficulty making payroll. The SBA hopes smallo businesses will use the ARC loaneas “breathing room to rework their businessx strategy in order to position themselves for future success,” said Eric who heads the agency’s Office of Capital Access. Most of the loans probably will be made throughb lenders that already have a business relationship with the Zarnikow said.
Small businesses that are interestexd in an ARC loan shouls first contact their current according tothe SBA. Lenders that currently don’f make SBA-guaranteed loans can join the prograjm in a process that takes abouta week, he The agency has enough funding for the ARC programj to make about 10,00p0 loans. Zarnikow expects high demand for these but he said it may take some time for some lenders to ramp up for this new The loans will be available until the monety for the program runs out oruntilk Sept. 30, 2010, whichevet comes first. Zarnikow expects the loane “will go pretty quickly.
” Tony president and CEO of the , agreed the “fundingg will be exhausted rather quickly.” Some lenderse already are ready to submitf applications forthe program, and were just waitingh for the SBA’s June 8 guidancer to lenders on program details, he “I think a lot of lenders will find the parameteras acceptable,” he said. For lenders who have customers who were profitablwin 2007, took a hit in 2008 and could survivw this year with a littlse help, “this is the product,” Wilkinson said.
sábado, 30 de abril de 2011
jueves, 28 de abril de 2011
Clopay to consolidate two plants in Troy - Business Courier of Cincinnati:
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The garage door manufacturer also operates a plant in Auburn, Wash., which will not be affectex by the consolidation. Griffon said the plant in Wis., will be closed, and “substantiallg all” of the Russia operatiomn as well. All employees of the Russia plant, located in Shelbyh County, will be offered jobs at the nearby Troy according to anews release. The company said it expectws cash savings of morethan $10 million annually from the “These actions will enable us to centralize production at our most technologicall advanced facility so that Clopay can improve its manufacturinyg efficiency while improving our abilithy to serve the needs of our said Steve Lynch, president of Clopay Building in the release.
Mason-based Clopay purchasedf the Troy plantin 2006. Griffon (NYSE: GFF) said it will take a charge ofabout $12 million for pre-tax exit and and make a capital investment of about $11 Jericho, N.Y.-based Griffon is a diversifiedx holding company.
The garage door manufacturer also operates a plant in Auburn, Wash., which will not be affectex by the consolidation. Griffon said the plant in Wis., will be closed, and “substantiallg all” of the Russia operatiomn as well. All employees of the Russia plant, located in Shelbyh County, will be offered jobs at the nearby Troy according to anews release. The company said it expectws cash savings of morethan $10 million annually from the “These actions will enable us to centralize production at our most technologicall advanced facility so that Clopay can improve its manufacturinyg efficiency while improving our abilithy to serve the needs of our said Steve Lynch, president of Clopay Building in the release.
Mason-based Clopay purchasedf the Troy plantin 2006. Griffon (NYSE: GFF) said it will take a charge ofabout $12 million for pre-tax exit and and make a capital investment of about $11 Jericho, N.Y.-based Griffon is a diversifiedx holding company.
martes, 26 de abril de 2011
SBA offers car dealers help - Charlotte Business Journal:
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The government-guaranteed loans will be available to dealeres to finance their auto andother inventory, knowb in the industry as a floor Through SBA lenders, the dealer floor-pla n financing will provide line s of credit through the 7(a) program for titlesd inventory, including cars, RVs, boats and Dealers can borrow $500,000 to $2 millionb against their inventory and repay the debt as they sell The loans have a maximum repayment term of five yearx and will have a 75 percent governmenft guarantee. As part of the American Recovery andReinvestmen Act, fees also are beinyg eliminated temporarily on 7(a) loans.
“Countless small businesses, including dealerships, across the country are facint significant challenges as a result of the uncertainty in the auto says SBA AdministratorKaren “Floor-plan financing can offer some dealerships the opportunity to get through thesee tough economic times by allowing them to keep their inventoryu and cash flow intact, as well as save the jobs these small businesses provide.” Amid the economic turmoil and low auto sales, car dealerzs throughout the country have run into problems keepinyg their floor plans through bankss and auto manufacturers. Most need them to be able to finance andstock inventory.
The program will run untio September 2010, when the SBA will decidd whether toextend it.
The government-guaranteed loans will be available to dealeres to finance their auto andother inventory, knowb in the industry as a floor Through SBA lenders, the dealer floor-pla n financing will provide line s of credit through the 7(a) program for titlesd inventory, including cars, RVs, boats and Dealers can borrow $500,000 to $2 millionb against their inventory and repay the debt as they sell The loans have a maximum repayment term of five yearx and will have a 75 percent governmenft guarantee. As part of the American Recovery andReinvestmen Act, fees also are beinyg eliminated temporarily on 7(a) loans.
“Countless small businesses, including dealerships, across the country are facint significant challenges as a result of the uncertainty in the auto says SBA AdministratorKaren “Floor-plan financing can offer some dealerships the opportunity to get through thesee tough economic times by allowing them to keep their inventoryu and cash flow intact, as well as save the jobs these small businesses provide.” Amid the economic turmoil and low auto sales, car dealerzs throughout the country have run into problems keepinyg their floor plans through bankss and auto manufacturers. Most need them to be able to finance andstock inventory.
The program will run untio September 2010, when the SBA will decidd whether toextend it.
domingo, 24 de abril de 2011
Report: State should spend less on new roads - Business First of Columbus:
qozito.wordpress.com
The report focused on how statews are spending their Surface TransportationProgram money, which is part of the American Reinvestment and Recoveryg Act (ARRA). Colorado is getting about $411.67 million in STP money for road projects, accordin to the report. State official s have said Colorado is getting anadditional $103 million in ARRA mone for public transportation Unlike other pots of ARRA money, officials have some flexibilitgy on where STP money shoule be spent, said Dannyh Katz, state director for CoPIRG, a nonprofit group. Of the $411.7 million, the reportg concluded that about $278.7 million, or 68 is being spent on road maintenancwor rehabilitation. About $84.
2 million, or 20 is being spent on new highway capacitg whileabout $31.1 or 8 percent, is being speny on public transportation. “We’re excited that therew was a lot of money spenton transit, but none of that moneyt should be going to new highways,” Katz “We used our money better than most but we can’t continue to spend it on new The report cited research that spending on public transportation creates 31 percent more jobs compared to new road and bridgde construction.
Myung Oak Kim, communications manager for the Governor’es Economic Recovery Team, said “There is a fundamental problem with the repor t because it does not take into account the fact that the Recovert Act allocates separate funds just fortransit projects. In additiob to the surface transportation dollars analyzedc inthe report, Colorado will receiv more than $100 milliomn from the Recovery Act for capitalp transit projects. Among the Recovery Act transif dollars comingto Colorado, the West Corridorr line of FasTracks is getting $40 milliom and Summit County is getting $10 milliomn for a new bus maintenance The report comes a day before U.S.
Transportatiom Secretary Ray LaHood will be in Denver to breamk ground ona $32 million, ARRA-funded, road and bike path reconstructio n project along C-470. LaHood will join with Gov. Bill Rep. Ed Perlmutter, D-Colo.; and CDOT Executive Directorr Russell George on Tuesday morning atthe C-470o bikepath near the I-70 junction. The projecty will pay to resurface the bike path that spanas 26 milesfrom I-70 to It will also rehabilitatde C-470 between Santa Fe Drive and The ARRA money CDOT is spending on the projecty comes from its own allocatio n of stimulus money, not from STP CDOT spokeswoman Stacey Stegman said.
“CDOT selectedr the bike path to come out of its fundin g because we believed it to be a high she said.
The report focused on how statews are spending their Surface TransportationProgram money, which is part of the American Reinvestment and Recoveryg Act (ARRA). Colorado is getting about $411.67 million in STP money for road projects, accordin to the report. State official s have said Colorado is getting anadditional $103 million in ARRA mone for public transportation Unlike other pots of ARRA money, officials have some flexibilitgy on where STP money shoule be spent, said Dannyh Katz, state director for CoPIRG, a nonprofit group. Of the $411.7 million, the reportg concluded that about $278.7 million, or 68 is being spent on road maintenancwor rehabilitation. About $84.
2 million, or 20 is being spent on new highway capacitg whileabout $31.1 or 8 percent, is being speny on public transportation. “We’re excited that therew was a lot of money spenton transit, but none of that moneyt should be going to new highways,” Katz “We used our money better than most but we can’t continue to spend it on new The report cited research that spending on public transportation creates 31 percent more jobs compared to new road and bridgde construction.
Myung Oak Kim, communications manager for the Governor’es Economic Recovery Team, said “There is a fundamental problem with the repor t because it does not take into account the fact that the Recovert Act allocates separate funds just fortransit projects. In additiob to the surface transportation dollars analyzedc inthe report, Colorado will receiv more than $100 milliomn from the Recovery Act for capitalp transit projects. Among the Recovery Act transif dollars comingto Colorado, the West Corridorr line of FasTracks is getting $40 milliom and Summit County is getting $10 milliomn for a new bus maintenance The report comes a day before U.S.
Transportatiom Secretary Ray LaHood will be in Denver to breamk ground ona $32 million, ARRA-funded, road and bike path reconstructio n project along C-470. LaHood will join with Gov. Bill Rep. Ed Perlmutter, D-Colo.; and CDOT Executive Directorr Russell George on Tuesday morning atthe C-470o bikepath near the I-70 junction. The projecty will pay to resurface the bike path that spanas 26 milesfrom I-70 to It will also rehabilitatde C-470 between Santa Fe Drive and The ARRA money CDOT is spending on the projecty comes from its own allocatio n of stimulus money, not from STP CDOT spokeswoman Stacey Stegman said.
“CDOT selectedr the bike path to come out of its fundin g because we believed it to be a high she said.
jueves, 21 de abril de 2011
'Glee' Goes Gaga, 'Born This Way' Cover Goes Viral - AOL Music (blog)
hustenuejib1630.blogspot.com
USA Today | 'Glee' Goes Gaga, 'Born This Way' Cover Goes Viral AOL Music (blog) The highly anticipated 'Glee' cover of Lady Gaga's hit 'Born This Way' has found its way onto the Internet ahead of the show's 'Born This Way' episode airing on FOX next Tuesday. The anthem-for-the-outcasts is the perfect poster song for the 'Glee' ... Lady Gaga Apologizes For 'Retarded' Comment Lady Gaga Apologizes for 'Retarded' Remark 'Glee' Does 'Born This Way,' Lady Gaga Apologizes |
martes, 19 de abril de 2011
Houston solicitation suspect sues La. college over firing - Houston Chronicle
uraa-quartely.blogspot.com
Houston solicitation suspect sues La. college over firing Houston Chronicle Former Southern University Athletic Director Greg LaFleur, who was fired three days after his April 3 arrest on a misdemeanor prostitution count in Houston, is suing the school for breach of contract. LaFleur contends in a lawsuit that Southern fired ... Ex-Southern Athletic Director Sues Over Firing |
domingo, 17 de abril de 2011
University System of Maryland to break up biotechnology institute - Washington Business Journal:
http://ymekovo.wordpress.com
The public university system’s Board of Regents approved Friday a sweeping restructuring of the that will parcel out its fourresearchh centers, along with staff and other assets, to other System leaders hope the restructuring will drive research collaboration and boosty access to outside funding. It also means an end for which was launched to greaty fanfare two decades ago with the mission ofadvancingf education, research and economic development for what was then the state’s nascent biotech industry.
A months-long stud y of UMBI by an ad hoc committee led by USM regentsx Chairman Clifford Kendall concludedthat “thed organization of UMBI as a geographically dispersed, free-standinh entity has created intractable problems.” Those problems includer an inability to scale UMBI programs, isolation amonv UMBI’s research centers, the lack of a criticapl mass of graduate and undergraduate students involved in UMBI research, and administrativew inefficiencies.
“After a comprehensive and deliberative process, we have concludede that restructuring UMBI’s assets is the right thing to do,” Kendall said in a “With a focus on collaboration — acrossx disciplines and across institutions and with recognition of the exceptional talent within the UMBI community andthe system’sa other institutions, this action will position USM to take fullefr advantage of its system-wide strengthsw in the biosciences and to fuel the state’s knowledges economy even more.” The move isn’ft a total surprise. Critics have long questione d whether the state was duplicating its researcgh efforts inthe biosciences.
UMBI’s four centerw in Baltimore, Rockville and College Park conduct researchon medical, biotechnology, marine and environmental At the same time, statde funding for higher education is pinched by the recessiom and the state’s budget deficit, and research needs are Under the restructuring approved Fridahy by the regents at a meeting in Frostburg, a joinr University System of Maryland research center will be established at UMBI’s Cente for Advanced Research in Biotechnology in The system’s flagship College Park campus will oversee the facilitgy and work with the University of Baltimore to elevate work in physics, engineerinf and computational sciences as well as structural biology, protein desigb and drug discovery.
• UMBI’s Center for Biosystems Researcbh will also be overseen byCollegd Park. • A joint research centetr at UMBI’s Center of Marinew Biotechnology in Baltimore willbe established, with administrativse responsibility falling to the University of Maryland, Baltimor County. UMBC will collaborate with the University of Marylan d Center for Environmental Science and the Universitgyof Maryland, Baltimore to driver research in environmental and genomic sciences. UMBI’s Baltimore-based Medical Biotechnology Centedr will fall under the Universityof Baltimore’s purview. • UMBI’s Institute of Fluorescencre will be administeredby UMBC.
• UMBI’s K-12 educational programs will be overseenb by with an eye on enhancinfg itsteaching focus. UMBI Presideng Jennie Hunter-Cevera is stepping down June 30 aftefr 10 years inthat role. She will becomd executive vice president of discovery and analyticalp sciences and corporate developmentat , a North Carolinaa nonprofit. The University Systej of Maryland will honor tenure held by UMBI faculty and administrative support staffers will be able to stay in theit jobs throughfiscal 2010.
Job opportunitied at other system campuses will be and memoranda of understanding outliningh future operations and collaborations are expected to be completed by the end of this year and fullt implemented by the end offiscal 2010. UMBI generates abou t $25 million in research activity annually, and university systek leaders hope to see that number increase dramatically by breaking upthe “Today’s decisions by the board provide a tremendousa opportunity for the University Syste of Maryland to increase the volume and impact of its basic and applied research in the said USM Chancellor William E.
Kirwan in a “This restructuring has the potential to double the research productivit yof UMBI’s current assets within five
The public university system’s Board of Regents approved Friday a sweeping restructuring of the that will parcel out its fourresearchh centers, along with staff and other assets, to other System leaders hope the restructuring will drive research collaboration and boosty access to outside funding. It also means an end for which was launched to greaty fanfare two decades ago with the mission ofadvancingf education, research and economic development for what was then the state’s nascent biotech industry.
A months-long stud y of UMBI by an ad hoc committee led by USM regentsx Chairman Clifford Kendall concludedthat “thed organization of UMBI as a geographically dispersed, free-standinh entity has created intractable problems.” Those problems includer an inability to scale UMBI programs, isolation amonv UMBI’s research centers, the lack of a criticapl mass of graduate and undergraduate students involved in UMBI research, and administrativew inefficiencies.
“After a comprehensive and deliberative process, we have concludede that restructuring UMBI’s assets is the right thing to do,” Kendall said in a “With a focus on collaboration — acrossx disciplines and across institutions and with recognition of the exceptional talent within the UMBI community andthe system’sa other institutions, this action will position USM to take fullefr advantage of its system-wide strengthsw in the biosciences and to fuel the state’s knowledges economy even more.” The move isn’ft a total surprise. Critics have long questione d whether the state was duplicating its researcgh efforts inthe biosciences.
UMBI’s four centerw in Baltimore, Rockville and College Park conduct researchon medical, biotechnology, marine and environmental At the same time, statde funding for higher education is pinched by the recessiom and the state’s budget deficit, and research needs are Under the restructuring approved Fridahy by the regents at a meeting in Frostburg, a joinr University System of Maryland research center will be established at UMBI’s Cente for Advanced Research in Biotechnology in The system’s flagship College Park campus will oversee the facilitgy and work with the University of Baltimore to elevate work in physics, engineerinf and computational sciences as well as structural biology, protein desigb and drug discovery.
• UMBI’s Center for Biosystems Researcbh will also be overseen byCollegd Park. • A joint research centetr at UMBI’s Center of Marinew Biotechnology in Baltimore willbe established, with administrativse responsibility falling to the University of Maryland, Baltimor County. UMBC will collaborate with the University of Marylan d Center for Environmental Science and the Universitgyof Maryland, Baltimore to driver research in environmental and genomic sciences. UMBI’s Baltimore-based Medical Biotechnology Centedr will fall under the Universityof Baltimore’s purview. • UMBI’s Institute of Fluorescencre will be administeredby UMBC.
• UMBI’s K-12 educational programs will be overseenb by with an eye on enhancinfg itsteaching focus. UMBI Presideng Jennie Hunter-Cevera is stepping down June 30 aftefr 10 years inthat role. She will becomd executive vice president of discovery and analyticalp sciences and corporate developmentat , a North Carolinaa nonprofit. The University Systej of Maryland will honor tenure held by UMBI faculty and administrative support staffers will be able to stay in theit jobs throughfiscal 2010.
Job opportunitied at other system campuses will be and memoranda of understanding outliningh future operations and collaborations are expected to be completed by the end of this year and fullt implemented by the end offiscal 2010. UMBI generates abou t $25 million in research activity annually, and university systek leaders hope to see that number increase dramatically by breaking upthe “Today’s decisions by the board provide a tremendousa opportunity for the University Syste of Maryland to increase the volume and impact of its basic and applied research in the said USM Chancellor William E.
Kirwan in a “This restructuring has the potential to double the research productivit yof UMBI’s current assets within five
jueves, 14 de abril de 2011
Sales of Odyssey, Pilot, Ridgeline fall in May - Birmingham Business Journal:
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Sales for the Ridgeline fell to 1,461 in May, down 56.6 percent from the 3,4976 sold in May 2008. The pickup has experienceds some of the same struggles as other vehiclew inits class. For the year, Ridgelined sales fell to 6,164 – down more than 63 percentf fromthe 17,152 sold in 2008. Odyssety sales fell slightly to 12,127, a 2.9 percent drop from the 12,9656 the Japanese automaker reported for the minivam inMay 2008. The Odyssey’ year-to-date sales slipped to which represents a 29 percent decrease fromthe 59,987 sold in 2008. Salews of the Pilot sport utility vehicle, which is also made at the plan tin Lincoln, also dipped – falling 8.
9 percenr to 7,412, compared to the 8,449 sold in May of 2008. sales of the Pilot are down 28 percent. Overalo sales for the entire Honda linedroppedf 39.2 percent for the month.
Sales for the Ridgeline fell to 1,461 in May, down 56.6 percent from the 3,4976 sold in May 2008. The pickup has experienceds some of the same struggles as other vehiclew inits class. For the year, Ridgelined sales fell to 6,164 – down more than 63 percentf fromthe 17,152 sold in 2008. Odyssety sales fell slightly to 12,127, a 2.9 percent drop from the 12,9656 the Japanese automaker reported for the minivam inMay 2008. The Odyssey’ year-to-date sales slipped to which represents a 29 percent decrease fromthe 59,987 sold in 2008. Salews of the Pilot sport utility vehicle, which is also made at the plan tin Lincoln, also dipped – falling 8.
9 percenr to 7,412, compared to the 8,449 sold in May of 2008. sales of the Pilot are down 28 percent. Overalo sales for the entire Honda linedroppedf 39.2 percent for the month.
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