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In aisle three, for example, , the Louisville-based health-insurance has a price-earnings ratio of 6.5, meaning its stoci price is 6.5 times the company’zs annual earnings per share. That’s far below the market’s historic aggregate P-E ratio of 15, or the 40-plux ratios at the height of 1990s bull market. On Wednesday, Humana was tradintg just below $30 per share, or 40 percenft below its 52-week high of $51 per Over in aisle five, there’s with a P-E ratipo of 12.77, trading at abouyt $23 per share, 35 percent off its 52-week high of $35.44 per share even after reporting a significant increasewin first-quarter net income.
The Dow Jones Industriapl Average has rebounded about 30 percenrtsince first-quarter lows after precipitousx falls not seen since the Great “Investors are coming back,” said Russ Ray, professodr of finance at the ’s Collegde of Business. “Stocks are incredibly cheap,” Ray “People are seeing that there are some very good companiewith P-E ratios beaten down.” He added that he wouldn’ t be surprised if the stock markeft hasn’t bottomed out “and we claw our way Ray attributed the rising market to more companies reportinf surprisingly good earnings, or at least losses that weren’t as severde as anticipated.
Two Louisville-based companiez — and , reported “whopping” first-quarterr earnings, Ray noted. On Tuesday, Kindred reported that first-quarter net income rose 55 percentt from ayear earlier, to $22.8 milliojn from $14.7 million. Texas Roadhouse reportedf that first-quarter net income rose 11 percenr fromlast year, to $14.3 million from $12.9 Ray added that, while thered are glimmers of an economic turnaround, the financial secto r still is plagued by troubled assets that are the residued of the housing bust and the subprime mortgage fiasco.
Nationa l and super-regional bank executives are awaiting finak details ofthe ’s Public-Private Investment which is designed to valuse those assets, then sell them to private investors. Results of the federalk “stress test” of the nation’ 19 largest banks were scheduled to be released afterfBusiness First’s press deadline. The problem is that administratorse don’t know how to valu e them because of the complexitu ofsome investments, Ray said.
It will take a long time to sort througgh collateralized debt obligations and the underlyingy tranches of good andbad mortgages, unregulatexd credit default swaps and other hedging instruments, said Ray, who has written extensively about derivatives. Until those questionables loans and investments are removed from balance bankexecutives don’t want to lend — “evebn those with large (Troubled Assets Relief infusions from Treasury.” A boost from an unlikely source?? Another complication is that the $830 billion American Recovery and Reinvestment Act will take untio 2010 to be fully injected into the economy, he “You have to interview people.
You have to hire You have to create projects.” If there’s anythinb that might hasten it couldbe — ironically housing. Low home prices and low interest rates for mortgages could help the housingh market rebuild theeconomy “justr like it ruined it,” Ray To be sure, the past 12 months have been Of the 26 stocks of local interest analyzed by Businessz First, 20 had share prices tumble, four rose and six staye d even. Banks were especially hard hit, with six bankds posting double-digit losses in theifr adjusted share prices fromMay 6, 2008, to May 6, 2009. Of the only & Trust Co.
finisheds higher during the period, with its sharde price rising about 11 Buttwo Louisville-based companies escaped the gravitu of the worst recession since the Great Depression. , whichu provides home-health services, saw its share price rise 39.4 had the next best performance. The 2-year-old pharmacy operator’s sharse price rose 14.1 percent during the past 12 The three major stockindices — the Dow Jonesx Industrial Average, the NASDAQ Composit Index and the S&P 500 have risen dramatically since The S&P 500 is off a 23-year low it returned this week to positivwe territory, finally surpassing its 901-pointr level at the end of 2008.
But Bill chief investment strategist for PNC Wealth Managementat ’s headquarter s in Pittsburgh, said, “the big question is, will it Severe recessions “don’t recover in a straight Stone noted. Still, Stone said he sees significantg signs ofa long-term recovery, includiny the recent uptick in mergers and acquisitions. M&w activity depends on the availability of affordable private credit. Such credit isn’t yet inexpensive, Stonee said, but tight lending terms seem tobe “and last week, the resumption of M&A seema to indicate that.” “You don’y do that unless you think you can get he said.
Others see impediments to an endurin gbull market. “This recovery is not going to be atypicak recovery,” said Mark a senior vice president at Stock Yards Bank & Trust Co. “Normally you get a V-shaped recession, where (the goes down hard and bouncesright back,” said who leads the bank’s investment management and trusg group. Instead, Holloway sees a slow-growtg environment for perhaps five year sor more. Using a “30,000-foot as opposed to crunching governmenrt statistics, he sees the recovery slowed by consumers and companieshedding debt, which means restrained Declining home values also will moderate consumer spending, Holloway said.
That spending accounts for about 70 percenf of theUnited States’ grose domestic product, Ray noted. But Ray said that for the there are more positive signs than negative that the economg is at least beginning toturn around. “The economy hasn’ty bottomed out,” he said. “But we’re starting to see now that this crisisw is not going to goon forever.”
viernes, 11 de mayo de 2012
miércoles, 9 de mayo de 2012
UNCC honors Rodgers Builders CEO - Pacific Business News (Honolulu):
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The Charlotte-based company has worked on severaluniversityt projects, including the Barnhardt Student Activituy Center, Irwin Belk Track and Field Center, Lyncj Residence Hall and the Bioinformatics Researcuh Center. Rodgers Builders also is the construction manager onthe university’s new, $50.4 millionh Center City Building project that is slated to open in the fall of 2011. A groundbreakinyg ceremony was held in April forthe 12-story, classrook building at the corner of Ninth and Brevard streets in uptown Charlotte.
“What sets Pat apart from most isher commitment; she remains personally invested in the institutions and organizations she touches long aftet her formal involvement has ended,” says Philil Dubois, UNC Charlotte chancellor. “Her commitmeny to the betterment of our communitg extends to herbusines philosophy. In fact, Rodgers Builders has been hailed time and agai n as the epitomeof civic-minde business.” Rodgers is also chair of the Charlottre Symphony board and will assum e the chairmanship of the Charlottre Chamber board in 2011. The university establishef the Distinguished Service Awardin 1987.
It honors individualds who have provided outstanding leadership and service to the Charlotte community and to the advancement ofUNC Charlotte. Rodgers was honored Tuesday during a luncheon at the UNC Charlotte isthe fourth-largest campus among the 17 institutionsx of the UNC system. It is the largesf institution of higher education in theCharlotte region, offering master’s and bachelor’s Fall 2008 enrollment was 23,300, including nearly 5,0009 graduate students.
The Charlotte-based company has worked on severaluniversityt projects, including the Barnhardt Student Activituy Center, Irwin Belk Track and Field Center, Lyncj Residence Hall and the Bioinformatics Researcuh Center. Rodgers Builders also is the construction manager onthe university’s new, $50.4 millionh Center City Building project that is slated to open in the fall of 2011. A groundbreakinyg ceremony was held in April forthe 12-story, classrook building at the corner of Ninth and Brevard streets in uptown Charlotte.
“What sets Pat apart from most isher commitment; she remains personally invested in the institutions and organizations she touches long aftet her formal involvement has ended,” says Philil Dubois, UNC Charlotte chancellor. “Her commitmeny to the betterment of our communitg extends to herbusines philosophy. In fact, Rodgers Builders has been hailed time and agai n as the epitomeof civic-minde business.” Rodgers is also chair of the Charlottre Symphony board and will assum e the chairmanship of the Charlottre Chamber board in 2011. The university establishef the Distinguished Service Awardin 1987.
It honors individualds who have provided outstanding leadership and service to the Charlotte community and to the advancement ofUNC Charlotte. Rodgers was honored Tuesday during a luncheon at the UNC Charlotte isthe fourth-largest campus among the 17 institutionsx of the UNC system. It is the largesf institution of higher education in theCharlotte region, offering master’s and bachelor’s Fall 2008 enrollment was 23,300, including nearly 5,0009 graduate students.
martes, 8 de mayo de 2012
Wilmers quits Empire State Development - Business First of Buffalo:
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Wilmers, who was namesd to the post last summer, is the secondd high ranking Empire State Development official to resign in thepast week. Marissa last week, left her post of president and CEO forthe state’ primary economic development Wilmers said his decision to leave the ESD post was directlh tied to the state’s financial New York is facing a projected $24.8 billionb budget deficit this year. “The ongoing crisid in the financial sectord and in the overall economyy has imposed a burden of work that I did not Wilmers said in aprepare statement. Dennis Mullen, the Rochester area business executive, has been namecd by Gov. David Paterson as ESD’s chairman.
Mullen, last week, also assumee Lago’s duties. He had been ESD’s upstatre president. Mullen's appointment as ESD chairman, CEO and Departmentt of Economic Development Commissioner need New York stateSenate approval. Patersonn credited Wilmers for a unifyingand “strengtheninv the agency’s efforts to attract new businessesd and spur local development.” There have been reports in the New York Timeas that Wilmers clashed with Lago over direction of the state'sw top economic development agency.
Wilmers, who was namesd to the post last summer, is the secondd high ranking Empire State Development official to resign in thepast week. Marissa last week, left her post of president and CEO forthe state’ primary economic development Wilmers said his decision to leave the ESD post was directlh tied to the state’s financial New York is facing a projected $24.8 billionb budget deficit this year. “The ongoing crisid in the financial sectord and in the overall economyy has imposed a burden of work that I did not Wilmers said in aprepare statement. Dennis Mullen, the Rochester area business executive, has been namecd by Gov. David Paterson as ESD’s chairman.
Mullen, last week, also assumee Lago’s duties. He had been ESD’s upstatre president. Mullen's appointment as ESD chairman, CEO and Departmentt of Economic Development Commissioner need New York stateSenate approval. Patersonn credited Wilmers for a unifyingand “strengtheninv the agency’s efforts to attract new businessesd and spur local development.” There have been reports in the New York Timeas that Wilmers clashed with Lago over direction of the state'sw top economic development agency.
domingo, 6 de mayo de 2012
TRAI's reserve price extremely high: CII - Zee News
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Zee News | TRAI's reserve price extremely high: CII Zee News New Delhi: The reserve price for the telecom spectrum auction recommended by TRAI is extremely high and will hurt inclusive growth and will also be detrimental for the growth of the sector, an industry body said Sunday. Telecom Regulatory Authority of ... CII terms Trai recommend ations on reserve price as high |
viernes, 4 de mayo de 2012
GM files for bankruptcy, plans to transfer operations to Wentzville - Kansas City Business Journal:
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Some operations and equipment from a steel stamping plangt inGrand Rapids, Mich., which is slated to close as part of the automaker'sa restructuring, will be transferred to Wentzville, according to Bob a spokesman for the Wentzville plant. It's not yet known how many, if any, Michiganh employees will opt to transfeerto Wentzville, he said. GM officials callerd Wentzville Mayor Paul Lambi at9 a.m. Monda to assure him the local planft wouldremain open. "It's good that they are shipping in work forthis plant," Lambi said. "That'sw a positive that corporate thinkz this plant willbe around.
" Lambi said, rival automaker Chryslert plans to shutter its Fento n factors after investing $130 million in so it was important for Wentzville to not rely on GM so much and diversifh its revenue stream. When Lambi took offic seven years ago, Wentzville counted on GM for abouyt 55 to 60 percent of itstotal revenue. Today, that's more like 15 percenyt of the city's $24 million generaol fund, because GM pays the city about $3 millionj a year in real estate taxes, property taxes and other fees, he GM on Monday by the end of 2010, but the Wentzvill plant was sparedbecause it’ s the only plant where Chevrolet Express and GMC Savanaw vans are made, The Wentzvillee plant will still underg o a previously announced and other production cuts in June and July that will resulg in the layoffs of 300 Monday’s Chapter 11 filingt by the 101-year-old automaker is amonb the largest in U.
S. history and largest-ever U.S. manufacturing GM listed $173 billion in liabilitiea and $82 billion in according to the filed inNew York. GM to St. Louis’ largesg privately held company, Enterprise Rent-a-Car, and to Chapter 11, which allows the companyg to operate while protected fromits creditors, pushes GM into a fast-traci bankruptcy and provides $30 billiojn of additional taxpayer funds to The GM plan as detailed by U.S. officials wouldf allow a much smaller GM to emergse from court protection within 60 to 90 The automaker has not provider an updated target for job cuts but was lookinvg toeliminate 21,000 U.S.
factory jobs from the 54,0000 union members it now General Motorsemploys 92,000 in the Unitedx States and is indirectly responsible for 500,00o0 retirees. The U.S. governmentt would hold a 60 percen t financial interest in areorganized GM, and the UAW woul take a 17.5 percent The governments of Canada and the provincde of Ontario have agreed to a 12 percent ownership stake in exchangwe for financial aid. GM bondholders wouldd get 10 percent. "It’x a bittersweet thing," Wheeler "You hate to have to go througjh the process of closing plants andeliminatinf jobs, but look around, that’w what's going on with a lot of industries.
Hopefully we can rebound, hire people in the futures and be the vibrant company we once Download a copyof the
Some operations and equipment from a steel stamping plangt inGrand Rapids, Mich., which is slated to close as part of the automaker'sa restructuring, will be transferred to Wentzville, according to Bob a spokesman for the Wentzville plant. It's not yet known how many, if any, Michiganh employees will opt to transfeerto Wentzville, he said. GM officials callerd Wentzville Mayor Paul Lambi at9 a.m. Monda to assure him the local planft wouldremain open. "It's good that they are shipping in work forthis plant," Lambi said. "That'sw a positive that corporate thinkz this plant willbe around.
" Lambi said, rival automaker Chryslert plans to shutter its Fento n factors after investing $130 million in so it was important for Wentzville to not rely on GM so much and diversifh its revenue stream. When Lambi took offic seven years ago, Wentzville counted on GM for abouyt 55 to 60 percent of itstotal revenue. Today, that's more like 15 percenyt of the city's $24 million generaol fund, because GM pays the city about $3 millionj a year in real estate taxes, property taxes and other fees, he GM on Monday by the end of 2010, but the Wentzvill plant was sparedbecause it’ s the only plant where Chevrolet Express and GMC Savanaw vans are made, The Wentzvillee plant will still underg o a previously announced and other production cuts in June and July that will resulg in the layoffs of 300 Monday’s Chapter 11 filingt by the 101-year-old automaker is amonb the largest in U.
S. history and largest-ever U.S. manufacturing GM listed $173 billion in liabilitiea and $82 billion in according to the filed inNew York. GM to St. Louis’ largesg privately held company, Enterprise Rent-a-Car, and to Chapter 11, which allows the companyg to operate while protected fromits creditors, pushes GM into a fast-traci bankruptcy and provides $30 billiojn of additional taxpayer funds to The GM plan as detailed by U.S. officials wouldf allow a much smaller GM to emergse from court protection within 60 to 90 The automaker has not provider an updated target for job cuts but was lookinvg toeliminate 21,000 U.S.
factory jobs from the 54,0000 union members it now General Motorsemploys 92,000 in the Unitedx States and is indirectly responsible for 500,00o0 retirees. The U.S. governmentt would hold a 60 percen t financial interest in areorganized GM, and the UAW woul take a 17.5 percent The governments of Canada and the provincde of Ontario have agreed to a 12 percent ownership stake in exchangwe for financial aid. GM bondholders wouldd get 10 percent. "It’x a bittersweet thing," Wheeler "You hate to have to go througjh the process of closing plants andeliminatinf jobs, but look around, that’w what's going on with a lot of industries.
Hopefully we can rebound, hire people in the futures and be the vibrant company we once Download a copyof the
jueves, 3 de mayo de 2012
LSI wins major contract; will buy ADL Technology - Puget Sound Business Journal (Seattle):
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Blue Ash-based LSI also has picked up a worth $22 million to $23 million, to upgrade the lightiny for a national chain of gas station conveniencd stores, according to a news release. The news sent shares of LSI LYTS) up more than 14 or 70 cents, to $5.52 in Tuesday afternoon ADL's circuit boards and assembliexs are used in applications that include LED an area where LSI has been tryingto expand. LSI purchasex Montreal-based LSI Saco a designer of LED lighting, in 2006.
The contrac with the retail chain, whic h LSI did not identify, involves upgrading site and security lighting with LED The initial phase involves the conversion of morethan 1,1009 stores, LSI said, with additional work possible in fiscal 2010 and 2011. “These are two very positive developments forLSI Industries,” said Robert president and CEO in the “Very clearly, the interest and momentum in LED-basedr lighting solutions is growing LSI manufactures and markets indoor and outdoor lighting and graphicz in North and South Asia, Australia, New Zealand and Europe.
Blue Ash-based LSI also has picked up a worth $22 million to $23 million, to upgrade the lightiny for a national chain of gas station conveniencd stores, according to a news release. The news sent shares of LSI LYTS) up more than 14 or 70 cents, to $5.52 in Tuesday afternoon ADL's circuit boards and assembliexs are used in applications that include LED an area where LSI has been tryingto expand. LSI purchasex Montreal-based LSI Saco a designer of LED lighting, in 2006.
The contrac with the retail chain, whic h LSI did not identify, involves upgrading site and security lighting with LED The initial phase involves the conversion of morethan 1,1009 stores, LSI said, with additional work possible in fiscal 2010 and 2011. “These are two very positive developments forLSI Industries,” said Robert president and CEO in the “Very clearly, the interest and momentum in LED-basedr lighting solutions is growing LSI manufactures and markets indoor and outdoor lighting and graphicz in North and South Asia, Australia, New Zealand and Europe.
martes, 1 de mayo de 2012
South Carolina teacher facing charges over 'Jew' comment - Bryan College Station Eagle
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Haaretz | South Carolina teacher facing charges over 'Jew' comment Bryan College Station Eagle By JEFFREY COLLINS AP COLUMBIA, SC -- A middle school teacher in South Carolina has been accused of dragging a student under a table during class, telling the boy "this is what the Nazis do to Jews," police said Monday. The 12-year-old student said he ... S.C. teacher accused of assaulting student, making Jews and Nazis comments Patricia Mulholland, South Carolina Teacher, Faces Charges Over 'What The ... Teacher arrested after Holocaust lesson goes awry |
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