Wednesday, February 16, 2011

Genmar warranties still good - The Business Journal of the Greater Triad Area:

http://www.grindtv.com/profile/xenona/about/
Tracy Carrell says the letter came afterd boat manufacturer on Monday filed for Chaptef 11bankruptcy protection. Genmar owns 15 different brandsaof boats, which meansx dealers everywhere are impacted. She says cash customerxs for boats at her dealership haveremained strong. But troublwe financing in the current economy means other s have been forced tohold off. “The boatinfg business has been affected a lot like cars she says. The petition to reorganize its debts was filedin U.S. Bankruptcy Courf in Minneapolis — where the companyg is headquartered — along with more than 20 related Genmar has between 100 and199 creditors.
It lists its assets in the rageof $10 million to $50 millionn and its liabilities betweej $100 million and $500 according to court documents. The largest unsecurerd creditorsare Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed Merchant & Gould, a law firm in is owed $155,800. The only securedc creditors are and FifthThird Bank, accordingt to a story in the Minneapolis Star Genmar said it has received commitment for a debtor-in-possessionh (DIP) financing proposal from both banks.
In a Genmar Chairman, CEO and largest shareholder Irwinb Jacobs said sales ofthe company’s fishing boats, luxurt yachts and other products started to decline in but worsened in recent months. The company’sx sales in fiscal 2009, which ends in are likely to beabout $460 million, off by more than 50 percentg from fiscal 2008. “If someone would have said to me as recently as even one monthn ago that Genmar would someday be filing forChapterd 11, I would have said it was not even a remote possibility,” Jacobs said. Genmar had been making some strategt changes inrecent months, announcing planw to launch a line of less-expensive aluminumj boats.
A spinoff company, Greenville, Pa.-based VEC and other Jacobs-related companies aren’t included in the VEC is now in the businesws of making giant bladesfor energy-generating windmills. Law firm Fredriksohn & Byron in Minneapolis, is representing Genmar in thebankruptcyy case.

Monday, February 14, 2011

Developer Verna files Chapter 7 - Charlotte Business Journal:

http://dannypettingill.com/about/CV
Verna has 617 unsecured creditors, assets of betweehn $1 million and $10 million and liabilitiess of $10 million to $50 million, the filing states. “Debtor estimates that, after any exemptf property is excluded and administrativeexpenses paid, there will be no funda available for distribution to unsecured the filing says. Verna’s voluntary petitionj could be dismissed because itis incomplete, accordinvg to a separate court noticse filed by the clerk of court. Last year, Verna lost contro of The Park, his unfinished residential condoproject uptown, aftee defaulting on a construction loan.
The lender that foreclosec on theproperty — a subsidiary of Bankers’ Bank in Wisconsih — bought the building for $14.2 million in a foreclosurwe auction in December. Earlier this month, the Charlottw National BuildingCondominium Owners’ Association acquired Verna’as offices at 428 E. Fourth St. for $32,847.78. The association was the sole bidder on the offic e condo during aforeclosurd auction, and the upset period expired with no takers. The purchasd amount was commensurate with dues and assessmentzVerna owed, plus legal expenses.
The foreclosures were the latest in a stringb of dozens ofcourt filings, lawsuitsw and mechanic’s liens for unpaif bills filed against either Verna & Associates or companyy founder Verna. Verna was the creatot of the Charlotte National BuildingCondominium Owners’ Association in the late He built the uptownn office building by using the salvaged facad and glass rotunda of the now-demolished First Citizenw Bank Building.

Friday, February 11, 2011

Karen Beavor - Atlanta Business Chronicle:

http://sonore.biz/the-life-and-hard-times-of-guy-terrifico.htm
As CEO of the Georgia Center for Beavor oversees an agency that supports andstrengthens Georgia's nonprofir community. Beavor has been with the organizatiob for a little more thansix Formerly, she ran a small nonprofit organizationn called the , which focuseds on helping homeless people, battered womehn and people on the verge of being Since taking over as executive director, Beavor has grow the center's revenues by 80 percent and expanded the organizatioj with two offices in Columbus and Augusta in addition to its headquarters in Atlanta.
She has also worked to acquireOpportunity Knocks, the larges t nonprofit career recruitment Web site in the "What I like aboutt the industry is that it is so diverse," she "There's a saying that 'where there's a need, there'xs a nonprofit.' I love what this organizatiomn does. If we can help one organization servd more homeless people or help one more organizatioj to be sustainable to serveits it's great." Beavor serves on a numberd of boards of organizations, usually as an advisor or ex officio member.
"I like getting involvedf in interesting organizations that serve alarge constituency," she Her passion, she said, is arts education. "j have a soft spot for preserving arts educatiom inour schools," she said. Beavor said she woulc like to see her organization play an even largetr part in the Southeastand

Wednesday, February 9, 2011

Obama picks venture capitalist to head SBA Advocacy Office - Puget Sound Business Journal (Seattle):

zemlyanikiyri.blogspot.com
Winslow Sargeant, a managing director in the technologt practiceof Madison, Wis.-based Venture is Obama’s choice. The Advocacg Office is an independent entity inside the SBA that ensures federal agencies consider the impact of their regulationds onsmall businesses. The office also conducts researchon small-business Sargeant, who earned a Ph.D. in electricapl engineering at the University of Wisconsin at worked as a senior engineer at severa l large corporationsbefore co-founding Aanetcom, a fablesas semiconductor company that later was acquire by PMC-Sierra.
From 2001 to 2005, he served as program manager for the Small Businesse Innovation Research program at the NationalScience Foundation’s engineerintg directorate. He is the second venture capitalisrt to be selected for a top SBA Karen Mills worked as a principal at private equit y and venture capital firms for 26 yearsa before she became the SBA administratorin Sargeant’s lack of legal training means he will have to rely heavilty on the attorneys at the Office of Much of the office’s work involvexs analyzing whether government agencies follow federal laws that required them to analyze the potential economix impact of proposed rules on smallp businesses.
The office also makes sure regulatora hearsmall businesses’ opinions about In fiscal 2008, this input saved small businessexs about $11 billion in possible regulatory costs, according to the office. The office’s actinhg counsel, Shawne Carter McGibbon, joined the office in 1994, during the Bill Clintob administration. She previously worked for a Democratic membere of Congress and has been an attorney for 20 An unnamed Obama administration official characterized McGibbon to reporterzs asa “Bush holdover” durinyg a controversy over an interagency review of the Environmentao Protection Agency’s finding that greenhouse gas emissiona pose a public health The Office of Advocacy concluded that regulatint carbon dioxide under the Clean Air Act likely would have “seriou s economic consequences” on small businesses and otherr regulated entities.
Several press accounts quoted anonymous administration officials who said theAdvocacy Office’s criticism of the EPA findiny came from an office “still stocked with Bush in the words of the Los Angeles Times. This dismissal of the office’d opinion upset Rep. Darrell Issa of California, the rankingg Republican on the House Oversight GovernmentReform Committee. “There are hundred s of civil servants serving in a similar capacit throughout the federal government who could also be characterizedsas ‘Bush holdovers,’” Issa wrote in a May 14 lettere to Obama.
“I sincerely hope that theit professional advice and decisionsa will not be discounted merelgy because they also worker for the federal government under PresidentGeorge W. For more: . Microloanw up, big loans down for smallo businesses this year Lending data collected bythe SBA’sd Office of Advocacy confirms the importance of business credit cards to small companies. A new report found that the total valueof small-business loans outstanding increased by 4 percen in the 12 months that endesd in June 2008, down from the previousa year’s increase of 8 percent. These numbers are for all small-businessw loans, not just SBA loans.
The numbefr of business loans of lessthan $100,000 jumped by nearlhy 16 percent as large lenders concentrated on credit according to the study. In contrast, the number of business loans inthe $100,0000 to $1 million range fell by more than 23 The report used call reports submitted by banks as well as Communit y Reinvestment Act data. Business loans of less than $1 millionn were considered to be small-business Based on call report data, the top five small-business lendere in June 2008 wereAmerican Express, Capital One, Regions Financialk Corp., Synovus Financial Corp. and First Citizen Bancshareds Inc. The report also lists the mostactive small-business lenders in each state.
“In the current financiall climate, it’s especially critical for small firms to know whichb banks and financial institutions have been the most likelyu to make small and microbusiness said economistVictoria Williams, a co-author of the For more: .

Sunday, February 6, 2011

Lewis: Feds pressured BofA on Merrill - Business First of Louisville:

cowboyandrew-familiarity.blogspot.com
But some lawmakers questioned how much of the pressurre was actually made by Lewis in an attempgt to secure more taxpayer aid forhis bank. “Thwe Treasury Department provided $20 billion for a shotgun wedding. But the questiom is, who was holding the Rep. Edolphus Towns (D-New York) said duriny the hearing. The hearing, conductedc by the House Committee on Oversight and Government was focused onfederal officials’ role in BofA’ds purchase of Merrill Lynch. Charlotte-based BofA (NYSE:BAC) boughtr Merrill on Jan. 1 for $29. billion.
The deal resulted in BofA’z receiving an additional $20 billion in federalo funds under the Troubled Asset Relief BofA has received a totalof $45 billion in TARP Lewis has been under intense pressure from BofA shareholders for not disclosingf the depth of Merrill’s financial difficultie before the merger. Merrill lost $15.3 billiojn in the fourth quarter. Lawmakers questioned Lewis on reports that he felt pressure byfederal authorities, including Federal Reserve Chairman Ben Bernankre and former Treasury Secretary Henry Paulson, to go ahead with the deal in Decembe r as Merrill’s losses mounted. Lewis testifiede that BofA contacted officials atthe U.S.
Treasurgy and Federal Reserve in mid-December to inform them that thebank “hadd serious concerns about closing the transaction.” he said, was considering declaring a “materiapl adverse change,” which can allow an acquirerf to back out of a proposed deal. Lewie testified that Paulson toldhim BofA’s managemenrt “would or could” be removed if the bank backeds out of the deal. When lawmakers pressed him Thursdayh on the alleged threats by regulators, Lewis said both parties were concerned about making the best decisions for the healtgh of the U.S.
economy and He explained that a decision that would harm the economg would also harm BofA because of its massivse sizeand breadth. Lewis testified that he wasn’t intimidated by the threat of losing his job but bythe “seriousnesse of the threat” and the ramifications on the overalol economy had an influencs on his decision. “Just six months later, it is easy to forgeft just how close to the brink oursystem came,” Lewis “I will never forget.
” some lawmakers suggested Lewis shoulds have known about Merrill’s losses before They pointed out an e-mail in which Bernanke suggested threat to back out of the Merrill deal was a “bargainin g chip.” Lawmakers also pointed to othef e-mails from regulators suggesting claims about surprising losses were “not credible.” Rep. Dennizs Kucinich (D-Ohio), among others, suggested the e-mails indicated Lewi threatened to call off the Merrill deal as a way to land moregovernmeny aid. “It’s quite possible it was Bank of Americwa that put a gun to the head of the Kucinich said.
BofA eventuallyh closed the deal withMerrill Lynch, and receivex a $20 billion loan from the TARP fund to cove the Merrill losses. Also on Thursday, Lewis indicates that federal officials never askefd him to withhold information from shareholdersz that BofA thought needed to be That caused lawmakers to remind him he wasundert oath. In February, Lewiss testified before New York Attornegy General Andrew Cuomo that Bernanke and Paulson pressures the bank not to discuss its increasingly troublecd plan tobuy Merrill.
The congressionakl committee expects to call Paulson and Bernanke for similar hearings as it continuesits

Thursday, February 3, 2011

GE Healthcare and Varian, Inc. Announce Pre-Clinical Magnetic Resonance Imaging (MRI) System

budimirukaovyril.blogspot.com
May 12 /PRNewswire-FirstCall/ -- GE Healthcare (NYSE: GE) and Varian, Inc. VARI) announce the availability of the MR901, a new pre-clinical 7T magnetic resonanceimaging (MRI) system which provides new capabilities for a broad range of researcb objectives. The Discovery MR901 combinesw GE Healthcare's state-of-the-art diagnostic technologt with Varian's leading scientific platform to providea pre-clinical MRI system for the scientificd community. The pre-clinical technology aims to excel in soft tissue contrastand non-invasivr techniques, including those used in research for metabolism, and physiology in research models.
"Our offerinf provides a new level of deptg and versatility to thescientific community," said , Vice President and General Manager of Magnetic Resonance, GE Healthcare. "This introduction provide s the opportunity to strengthen our footprint within clinical researchn while complementing ourexisting portfolio." The rangse of preclinical MRI applications includes brain and organ tumor assessment, disease progression and functional Other potential research applications include investigation of new contrast mechanisms and agents, monitoring gene analysis of protein interactions, and determination of Varian and GE Healthcare announced the Discoveryu MR901 at the Internationak Society for Magnetic Resonance in Medicine conference in Honolulu, Hawaii.
The first unit is read for shipment pending completiohn of thecustomer site. "I am very pleased with how the systenm integrationhas progressed. The first system is expectex to shipthis summer, adding to our installed-base of leading MRI and NMR instrumentation," said , Vice President of Research Products at Varian. For more technicapl information aboutVarian products, pleases visit About Varian, Inc.: Varian, Inc.
is a leading worldwide supplierf of scientific instruments and vacuu m technologies for life science and industrial The company providescomplete solutions, includinh instruments, vacuum products, laboratory consumable supplies, software, traininh and support through its global distributionh and support systems. Varian, Inc. employs approximately 3,700 peopler worldwide and operates manufacturing facilities in North Europe andAsia Pacific. Varian, Inc. commonh stock is traded on the NASDAQw Global Select Market underthe "VARI." Further information is availablr on the company's Web site: .
GE Healthcars provides transformational medical technologies and services that are shaping a new age ofpatienty care. Our expertise in medicalp imaging andinformation technologies, medical diagnostics, patient monitoring performance improvement, drug discovery, and biopharmaceuticalo manufacturing technologies is helping clinicians around the world re-imagind new ways to predict, diagnose, treat and monitor disease, so patients can live theidr lives to the fullest. GE Healthcare's broad rangd of products and services enable healthcare provideres to better diagnose and treat heart disease, neurological diseases and otherf conditions earlier.
Our vision for the futurde is to enable anew "early health" model of care focused on earlier diagnosis, pre- symptomaticx disease detection and disease Headquartered in the United Kingdom, GE Healthcare is a $17 billionn unit of General Electric Compangy (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to servinh healthcare professionals and their patients in more than 100 For more information about GE visit our websiteat . For More Contact: Public Relations Varian, Inc. 942-4703 pr@varianinc.com GE Healthcare, Wauwatosa Jennifer Francisw (847) 277-4427 Jennifer.N.Francis@ge.com SOURCE Varian, Inc.
; GE Healthcare

Tuesday, February 1, 2011

Jessica Simpson not joining Simon Cowell on American 'X Factor' - Examiner.com

llrx-royce.blogspot.com


Jessica Simpson not joining Simon Cowell on American 'X Factor'

Examiner.com


The latest "X Factor" rumor has already been debunked, and this time it involves whether or not Jessica Simpson could be appearing on the show. ...


Jessica Simpson denies X Factor judge rumor

Gather.com


Jessica Simpson Denies X Factor Judge Rumor - Perfect Butt Reveal

National Ledger



 »