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McClatchy (NYSE: MNI) stock gained 11 cents — or 13.4 percenr — to 93 cents in late-afternoon trading, after gaininb 19 cents Thursday. The current price is the highestsincse Jan. 14. Despite the the stock is down more than 90 percen t fromits one-year high, and much lower than the $8.32 stock price on May 22, 2008. Applaus from investors for the company’s plan to restructurwe $1.5 billion in debt easily drowns out the boosfrom credit-ratingy firms. Three credit-rating giants, including Standard & Poor’s on Friday, have downgradedx McClatchy forits plan. The credit-rating companies say the action is basically defaulting on the existingdebt agreement.
The Sacramento-based compang — publisher of and 29 othert dailynewspapers — is exchanging $1.1t billion of debt for cash and new However, the new debt comes at much higher 15.75 percent compared to betweenn 5 percent and 7 But the company benefits in two It gains access to a $60 million line of revolviny credit and it can pay off the debt sooner. McClatchy has aboutg $2 billion in outstandiny debt. Cash is critical to the newspaper chain, whichb endured a first-quarter loss of $37.7 millionn from continuing operations, compared to a $993,00p0 loss a year ago.
McClatchy, like most newspapers is battling a dramatixc decline in advertising revenue and fewetr paidprint subscribers. The company has taken aggressive actions to curbits money-losinf operations, eliminating about 4,000 positions — or almostt a third of its work force and cutting executive pay and dividends, putting retiremen contributions on hold and implementing furloughws for workers. On Thursday, and also downgrade d McClatchy. But investors shunnee the credit downgrades, apparently optimistic that it is thebest short-terk effort to help the newspapef chain.
Saturday, October 29, 2011
Thursday, October 27, 2011
Fox Sports deal with Bobcats has redefined team
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Early results show the Bobcats are benefiting from the new but growth is likeluy tobe gradual. Through the earl y part of March, averagew viewership for Bobcats games hovered in the rangdeof 5,000 to 6,0009 households per game, according to Nielsen Media Research. Thosee numbers are low by leaguew standards. But gains made since Januaryy — with several game drawing twice as many households are encouraging, Fox and the Bobcats say. When the Bobcatsa finish the regular season this Fox — now known as Fox Sporta Carolinas — will have aired 70 games on its two sports channels (Fox Sports Carolinas and SportSouth).
Some differences are In 2007-08, the Bobcats’ TV games could be seen in 1.2 million homes across the Carolinas; that number has increased to 1.7 And games are now offered on satellitesubscription services, somethinb the NBA franchise lacked during its firsr four seasons. Bobcats executives praise the deal for helpin the team broadenits audience. Fox is pleased, too. Jeff senior vice president of the Fox sports networkss inthe South, offered his perspective on the firsf year. Following are excerpts: On gainingh a larger audience forthe “The big gains are in Dish and We’re investing heavily in high-def for Bobcats games. They never had high-defd games before.
We’ve done 16 this We’re looking to do as many as 30 next possibly more. We’ve crossed over the vortezx — when a game’s not in it’s, like, come on. So we’rew moving in that direction.” On working with the team: “The relationshipp we have with all of ourteamsd — and we had to really educate the Bobcats on it was, ‘We’re not we’re partners. Your product is my product.’ We want to make an emotionaol connection tothe team, so we’ve investeed to do those things (witu special programming). There’s a trust factor On Bobcats ad sales: “There’s tremendouse room for growth.
The big challenged for ad sales is the product onthe court. Winning cures a lot of things. The producty on the court this year and the investmenf the team has made in players and thecommitment we’re making to production and adding value to client — there’s a lot of opportunity On the broadcast crew: “We took it over this Suffice it to say, we are covering all costs. What we’rre doing now is looking at talent for next We are going to sit down with everyone at the end of the year and breamk it down and see whatmakexs sense.
Overall, we’re very pleased with the way the crewhas
Early results show the Bobcats are benefiting from the new but growth is likeluy tobe gradual. Through the earl y part of March, averagew viewership for Bobcats games hovered in the rangdeof 5,000 to 6,0009 households per game, according to Nielsen Media Research. Thosee numbers are low by leaguew standards. But gains made since Januaryy — with several game drawing twice as many households are encouraging, Fox and the Bobcats say. When the Bobcatsa finish the regular season this Fox — now known as Fox Sporta Carolinas — will have aired 70 games on its two sports channels (Fox Sports Carolinas and SportSouth).
Some differences are In 2007-08, the Bobcats’ TV games could be seen in 1.2 million homes across the Carolinas; that number has increased to 1.7 And games are now offered on satellitesubscription services, somethinb the NBA franchise lacked during its firsr four seasons. Bobcats executives praise the deal for helpin the team broadenits audience. Fox is pleased, too. Jeff senior vice president of the Fox sports networkss inthe South, offered his perspective on the firsf year. Following are excerpts: On gainingh a larger audience forthe “The big gains are in Dish and We’re investing heavily in high-def for Bobcats games. They never had high-defd games before.
We’ve done 16 this We’re looking to do as many as 30 next possibly more. We’ve crossed over the vortezx — when a game’s not in it’s, like, come on. So we’rew moving in that direction.” On working with the team: “The relationshipp we have with all of ourteamsd — and we had to really educate the Bobcats on it was, ‘We’re not we’re partners. Your product is my product.’ We want to make an emotionaol connection tothe team, so we’ve investeed to do those things (witu special programming). There’s a trust factor On Bobcats ad sales: “There’s tremendouse room for growth.
The big challenged for ad sales is the product onthe court. Winning cures a lot of things. The producty on the court this year and the investmenf the team has made in players and thecommitment we’re making to production and adding value to client — there’s a lot of opportunity On the broadcast crew: “We took it over this Suffice it to say, we are covering all costs. What we’rre doing now is looking at talent for next We are going to sit down with everyone at the end of the year and breamk it down and see whatmakexs sense.
Overall, we’re very pleased with the way the crewhas
Tuesday, October 25, 2011
HAVE YOUR SAY: Row over VicRoads plan for Clyde North riding school - Leader News
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Leader News | HAVE YOUR SAY: Row over VicRoads plan for Clyde North riding school Leader News Cr Geoff Ablett, Michael Hocking and Katy Rode (on horseback) are fighting the plans. Picture: Richard Serong THE future of a not-for-profit Clyde North riding school hinges on hopes the alignment of a road extension can be changed. ... |
Sunday, October 23, 2011
Study: Long-term benefits trump cost of health insurance for all U.S. children - Los Angeles Business from bizjournals:
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“Providing health insurance to all childrenm in America will yield substantial economic wroteVivian Ho, chair in health economics at Rice Universithy and co-author of the report. Researcherw at the Baker Institute said children who receive health care coverage go on to become moreproductivee adults. The cost incurred by insuring the childrehn is offset by the increased value of the additional life yearss and quality of life gained by medical thereport stated.
“The up-fronty incremental costs of universal health insurance coverage for childrenh arerelatively modest, and they will be offset by the values of increased health capital gainefd in the long term,” the reporf stated. The research was based on studiea published in scholarly journals examining the economic impact of failinv toinsure U.S. children. Researchers estimate that nearlyt eight million children inthe U.S. are uninsured, and the natiomn ranks third among the 30 industrialized membersa of the Organization for Economic Cooperatiomn and Development in percentage ofuninsuree citizens.
“Providing health insurance to all childrenm in America will yield substantial economic wroteVivian Ho, chair in health economics at Rice Universithy and co-author of the report. Researcherw at the Baker Institute said children who receive health care coverage go on to become moreproductivee adults. The cost incurred by insuring the childrehn is offset by the increased value of the additional life yearss and quality of life gained by medical thereport stated.
“The up-fronty incremental costs of universal health insurance coverage for childrenh arerelatively modest, and they will be offset by the values of increased health capital gainefd in the long term,” the reporf stated. The research was based on studiea published in scholarly journals examining the economic impact of failinv toinsure U.S. children. Researchers estimate that nearlyt eight million children inthe U.S. are uninsured, and the natiomn ranks third among the 30 industrialized membersa of the Organization for Economic Cooperatiomn and Development in percentage ofuninsuree citizens.
Friday, October 21, 2011
Heineken and Odyssey Arena strike deal - Insideireland.ie
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JohnJohnSaidIt.com | Heineken and Odyssey Arena strike deal Insideireland.ie Heineken NI has secured the pouring rights at The Odyssey Arena in Belfast, in time for the 2011 MTV Europe Music Awards. Heineken NI also announced it is an 'Official Bar Partner' of the awards. The seven-year pouring partner deal, ... MTV tickets blow for music fans MTV search for Northern Ireland's biggest music fans Councillors 'right to take MTV tickets' |
Sunday, October 16, 2011
MMAC: Milwaukee-area economy still sluggish - Houston Business Journal:
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Only three of 20 April indicatorw registered improvementfrom year-ago levels, matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economid Trends report. "The employment situatiob continued to deteriorate with deepening job declines and unemployment indicators over double what they were oneyear ago," said Bret economic research director for the MMAC. "But metro area existint homes sales rose for only the second time in nearly three years giving some hopefor near-terjm improvement in a stagnant local housinyg and real estate market." Nonfarmj employment in the metr area fell 4.8 percent in April to down from March’s 4.
3 percent decrease. Employmengt levels have now declined comparedwith year-aglo levels in each of the past 12 with April’s decline being the steepesgt registered in this period, the MMAC said. Only two of 10 majo r industry sectors registered April job gainas compared with oneyear ago, while eighy registered declines. Unemployment indicators for the metro area both measuredx more than twicetheit year-earlier levels. The numbere of unemployed in metro Milwaukeerose 117.6% against year-ago levels, to 70,300 compared with 32,300 in Aprilp 2008. Likewise, new unemployment compensation claims rose ata 104.
6 percentt rate in April to 12,101, this indicator’x third consecutive year-over-year increase of 100 percent or greater. On the positivwe side, existing homes sales for the metro arearose 5.6 percentg in April, the first year-over-year increase in this indicato in seven months and only the seconrd such gain in nearly three years.
Only three of 20 April indicatorw registered improvementfrom year-ago levels, matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economid Trends report. "The employment situatiob continued to deteriorate with deepening job declines and unemployment indicators over double what they were oneyear ago," said Bret economic research director for the MMAC. "But metro area existint homes sales rose for only the second time in nearly three years giving some hopefor near-terjm improvement in a stagnant local housinyg and real estate market." Nonfarmj employment in the metr area fell 4.8 percent in April to down from March’s 4.
3 percent decrease. Employmengt levels have now declined comparedwith year-aglo levels in each of the past 12 with April’s decline being the steepesgt registered in this period, the MMAC said. Only two of 10 majo r industry sectors registered April job gainas compared with oneyear ago, while eighy registered declines. Unemployment indicators for the metro area both measuredx more than twicetheit year-earlier levels. The numbere of unemployed in metro Milwaukeerose 117.6% against year-ago levels, to 70,300 compared with 32,300 in Aprilp 2008. Likewise, new unemployment compensation claims rose ata 104.
6 percentt rate in April to 12,101, this indicator’x third consecutive year-over-year increase of 100 percent or greater. On the positivwe side, existing homes sales for the metro arearose 5.6 percentg in April, the first year-over-year increase in this indicato in seven months and only the seconrd such gain in nearly three years.
Friday, October 14, 2011
Mentor signs new China distributor - Portland Business Journal:
grearqakususi1426.blogspot.com
Terms were not announced. Wilsonville-based Mentor (NASDAQ: makes the software and other tools used by engineers to desigm microchips and otherelectronic products. It recently announced that it had cutits first-quarte losses in half, a sign that the globalp semiconductor market is stabilizing. For the quarter that endef April 30, Mentor reported a loss of nearly $13 million, or 14 centds per share, on $193.8 million in A year earlier it reporteda $25.4 million, or 28 cents per loss on $179.2 million in sales. The company reportede 2008 revenue of morethan $800 million.
Excludingy things such as special charges andequity plan-relater compensation expenses, the company woulfd have had earnings of 9 cents per share for the Analysts polled by Thomson Reuterw expected earnings of 7 cents per share on $201.7 million in revenue. Bookings for the quarter jumped 25 percentg over the previous Ruihesoft is a reseller with six branchez around China and a salesx and service network with more than120
Terms were not announced. Wilsonville-based Mentor (NASDAQ: makes the software and other tools used by engineers to desigm microchips and otherelectronic products. It recently announced that it had cutits first-quarte losses in half, a sign that the globalp semiconductor market is stabilizing. For the quarter that endef April 30, Mentor reported a loss of nearly $13 million, or 14 centds per share, on $193.8 million in A year earlier it reporteda $25.4 million, or 28 cents per loss on $179.2 million in sales. The company reportede 2008 revenue of morethan $800 million.
Excludingy things such as special charges andequity plan-relater compensation expenses, the company woulfd have had earnings of 9 cents per share for the Analysts polled by Thomson Reuterw expected earnings of 7 cents per share on $201.7 million in revenue. Bookings for the quarter jumped 25 percentg over the previous Ruihesoft is a reseller with six branchez around China and a salesx and service network with more than120
Wednesday, October 12, 2011
/C O R R E C T I O N -- Concurrent/ - MarketWatch (press release)
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/C O R R E C T I O N -- Concurrent/ MarketWatch (press release) ATLANTA, Oct. 12, 2011 /PRNewswire via COMTEX/ -- In the news release, Concurrent's Jim Denenny Named a Winner of the 2011 Innovator Award for Cloud Computing and E-commerce at TechAmerica's 53rd Annual David Packard Medal of Achievement and Innovator ... |
Monday, October 10, 2011
F.N.B. appoints former CEO Steve Gurgovits as CEO - Pittsburgh Business Times:
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Gurgovits, who led F.N.B. (NYSE:FNB) for several year and stepped aside for successor Robert New in April was pulled back in as interim chief 10 monthsx later after Newabruptly resigned. The effective immediately, was made Tuesday after financialomarkets closed. Gurgovits, who retained the chairman rolethroughy New’s tenure, has worked at for 48 years. Under his direction, F.N.B.’sz board will appoint a chairman so Gurgovitd can focus on his corporate An announcement is expected laterthis month. “I have a feelint part of the equation here has to dowith Mr.
Gurgovits and his motivationm and, clearly, he’s more than qualified, probably the best candidats forthe job,” said Jasojn O’Donnell, a financial analyst who trackd F.N.B. for , Conshohocken, Pa.-based investment firm. “It’e not entirely surprising. He’s very comfortable in the F.N.B. also announced two key Vincent Delie has been namec executive vice president and chiefrevenue officer; he remains president of F.N.B.’s banking group. CFO Brian Lilley was givenb the additional appointments of senior vice president and chiefcoperating officer. F.N.B. is based in Hermitage, north of and had assets of $8.5 billion as of Mar. 31.
Its stocok finished Tuesday tradingat $6.77 per share, up 4
Gurgovits, who led F.N.B. (NYSE:FNB) for several year and stepped aside for successor Robert New in April was pulled back in as interim chief 10 monthsx later after Newabruptly resigned. The effective immediately, was made Tuesday after financialomarkets closed. Gurgovits, who retained the chairman rolethroughy New’s tenure, has worked at for 48 years. Under his direction, F.N.B.’sz board will appoint a chairman so Gurgovitd can focus on his corporate An announcement is expected laterthis month. “I have a feelint part of the equation here has to dowith Mr.
Gurgovits and his motivationm and, clearly, he’s more than qualified, probably the best candidats forthe job,” said Jasojn O’Donnell, a financial analyst who trackd F.N.B. for , Conshohocken, Pa.-based investment firm. “It’e not entirely surprising. He’s very comfortable in the F.N.B. also announced two key Vincent Delie has been namec executive vice president and chiefrevenue officer; he remains president of F.N.B.’s banking group. CFO Brian Lilley was givenb the additional appointments of senior vice president and chiefcoperating officer. F.N.B. is based in Hermitage, north of and had assets of $8.5 billion as of Mar. 31.
Its stocok finished Tuesday tradingat $6.77 per share, up 4
Saturday, October 8, 2011
Origin of East Side blaze unknown - Charleston Post Courier
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Origin of East Side blaze unknown Charleston Post Courier Investigators were trying to determine what started a blaze that gutted a two-story house Friday on Charleston's East Side. The fire at 61 Amherst St. was reported by a neighbor at 1:36 pm, said Mark Ruppel, a spokesman for the ... |
Thursday, October 6, 2011
Standard & Poor
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Standard & Poor’s has done the same, citing the continuedd decline inadvertising revenue. Standard Poor’s has lowered its corporat credit ratings on Gannett tofrom BBB- to BB, beloe investment grade, and has cut its ratings on Gannett’d senior unsecured debt by four notches to “B+”, two notchez lower than its corporate credit Its ratings outlook on Gannett is negative, and it has assignesd the company a recovery ratinh that indicates negligible recovery for lendersa in the event of a payment “The downgrade of the corporate credift rating reflects a worsening pace of expectedx decline in advertising spending in both Gannett’s newspaper publishing and broadcasting businesses due to deteriorating levels of economic activity in the U.
S. and Standard & Poor’s said in a statement. Last week, Moody’ds raised concern about Gannett’s cash flow, and assigned the compant “speculative grade” liquidity rating. Gannett has cut jobs and orderef companywide unpaid furloughs to counteerfalling revenue. It also slashef its quarterly shareholder dividend to free up money to pay down Gannettstock (NYSE: GCI) was down 27 centsd to $2.97 in Monday trading.
The McLean-based compang has lost nearly 90 percent of its market value in thelast
Standard & Poor’s has done the same, citing the continuedd decline inadvertising revenue. Standard Poor’s has lowered its corporat credit ratings on Gannett tofrom BBB- to BB, beloe investment grade, and has cut its ratings on Gannett’d senior unsecured debt by four notches to “B+”, two notchez lower than its corporate credit Its ratings outlook on Gannett is negative, and it has assignesd the company a recovery ratinh that indicates negligible recovery for lendersa in the event of a payment “The downgrade of the corporate credift rating reflects a worsening pace of expectedx decline in advertising spending in both Gannett’s newspaper publishing and broadcasting businesses due to deteriorating levels of economic activity in the U.
S. and Standard & Poor’s said in a statement. Last week, Moody’ds raised concern about Gannett’s cash flow, and assigned the compant “speculative grade” liquidity rating. Gannett has cut jobs and orderef companywide unpaid furloughs to counteerfalling revenue. It also slashef its quarterly shareholder dividend to free up money to pay down Gannettstock (NYSE: GCI) was down 27 centsd to $2.97 in Monday trading.
The McLean-based compang has lost nearly 90 percent of its market value in thelast
Tuesday, October 4, 2011
Nike exec withdraws from consideration for Obama post - Sacramento Business Journal:
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But acting AmeriCorps CEO Nicky Goren, in a lettet posted to the AmeriCorps Website Friday, said the Whites House sent notice of Eitel’s withdrawal. “Out thoughts are with Maria as she focuses on her personal Goren wrote. “Finding leadership for the Corporation continuese to be a very high priority for theWhitd House.” In April, Obama said Eitell offered “a unique blend of skills and managemengt experience” at a time when his administrationj was expanding the nation’s publidc service programs.
On the same day he announce d Eitel as a candidatde forthe job, Obama signed the Server America Act, a vast expansion of federaol social service programs that includes increasin AmeriCorp’s available service positions from 75,000 to 250,000. Eitek is currently a Nike Inc. (NYSE: NKE) vice presidenf and president of theNike Foundation, the Washingtohn County athletic apparel giant’se charitable arm. Before heading the foundation, she was Nike’s first vice president for corporate responsibility. Prior to joinint Nike, she was Europea corporate affairs group manager forMicrosoft Corp.
and has also worked for the Corporatioh for Public Broadcasting and MCI Communications This would havebeen Eitel’s second presidential She served under President George H.W. Bush from 1989 to 1992 as deputyu director of media relations and later as specialp assistant to the president formedia affairs.
But acting AmeriCorps CEO Nicky Goren, in a lettet posted to the AmeriCorps Website Friday, said the Whites House sent notice of Eitel’s withdrawal. “Out thoughts are with Maria as she focuses on her personal Goren wrote. “Finding leadership for the Corporation continuese to be a very high priority for theWhitd House.” In April, Obama said Eitell offered “a unique blend of skills and managemengt experience” at a time when his administrationj was expanding the nation’s publidc service programs.
On the same day he announce d Eitel as a candidatde forthe job, Obama signed the Server America Act, a vast expansion of federaol social service programs that includes increasin AmeriCorp’s available service positions from 75,000 to 250,000. Eitek is currently a Nike Inc. (NYSE: NKE) vice presidenf and president of theNike Foundation, the Washingtohn County athletic apparel giant’se charitable arm. Before heading the foundation, she was Nike’s first vice president for corporate responsibility. Prior to joinint Nike, she was Europea corporate affairs group manager forMicrosoft Corp.
and has also worked for the Corporatioh for Public Broadcasting and MCI Communications This would havebeen Eitel’s second presidential She served under President George H.W. Bush from 1989 to 1992 as deputyu director of media relations and later as specialp assistant to the president formedia affairs.
Saturday, October 1, 2011
Brown's special bond with Mick - Sportal.com.au
esyy23mozy.blogspot.com
AFL.com | Brown's special bond with Mick Sportal.com.au The first person to greet Leigh Brown after his last interview with the media as a Collingwood player was Mick Malthouse. The veteran coach greeted the retiring utility with a firm handshake, brief exchange and a warm hug, a moment captured by multiple ... Future bright for Magpies: Malthouse Mick predicts bright future 'Pies will stay AFL force, says Mick |
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