eragywaqer.wordpress.com
percent of Americans lost moneyg as a resultof high-profile, financial data breaches, accordingg to a Gartner survey of 5,000 adults. In the 14 percent and 7 percent of respondents hadtheir credit-card and debit-card data used, respectively; 6 percenf said a new account was opened underf their name; 5 percent were the victimd of money transfer fraud; and 4 percent had checkss forged. The highest average financial losses camefrom new-accounr fraud ($1,097), credit card fraud and brokerage fraud ($900).
On the othetr hand, most victims were able to recovertheirf losses, receiving an average of 100 percentf for brokerage fraud, 86 percent for credit-card frauxd and 77 percent for debit-card fraud. Although only 6 percenft of the 5,000 people surveyed said they change d banks last year due tosecurityu concerns, that number jumped to 28 percentg after they became victims of fraud. The resultse come after high-profile data breaches at groupes — such as and — were discoverer last year. They affected millions of customerx throughoutthe country. Data breaches rose 47 percenrt in 2008 and affected a total of 78financiakl institutions, according to the Identith Theft Resource Center.
Stamford, Conn.-based (NYSE: IT) is one of leadin g providers of research and analysis on the globak informationtechnology industry.
Thursday, September 29, 2011
Tuesday, September 27, 2011
Six Flags renews Chrysler partnership - San Antonio Business Journal:
inokyfyli.blogspot.com
As part of the agreement, Chrysler will continue to operatd interactive vehicle displays staffed by producg specialists at 10 Six Flags including Fiesta Texas in San In addition, the displays will be set up at threr more parks. Chrysler, Jeep and Dodgwe vehicles will continue to be the officiapl vehicles of Six FlagsTheme “With over 25 million guests annually, Six Flagas provides the ideal platform to showcase our line of Jeep, and Dodge vehicles and strategicallyy engage consumers through dynamic and endemic marketint touch points in a fun and interactived way,” says Michael Accavitti, presidentr and CEO of Dodge Brand and Chrysler Group LLC Marketing.
The Jeep and Dodge brands will also sponsofr the Six Flags July 4th celebration at all Six Flags parksx over theholiday weekend. Six Flags SIXFQ) is a publicly-traded corporation headquarteref in New York City and isthe world’e largest regional theme park company with 20 theme parkx across the United Mexico and Canada.
As part of the agreement, Chrysler will continue to operatd interactive vehicle displays staffed by producg specialists at 10 Six Flags including Fiesta Texas in San In addition, the displays will be set up at threr more parks. Chrysler, Jeep and Dodgwe vehicles will continue to be the officiapl vehicles of Six FlagsTheme “With over 25 million guests annually, Six Flagas provides the ideal platform to showcase our line of Jeep, and Dodge vehicles and strategicallyy engage consumers through dynamic and endemic marketint touch points in a fun and interactived way,” says Michael Accavitti, presidentr and CEO of Dodge Brand and Chrysler Group LLC Marketing.
The Jeep and Dodge brands will also sponsofr the Six Flags July 4th celebration at all Six Flags parksx over theholiday weekend. Six Flags SIXFQ) is a publicly-traded corporation headquarteref in New York City and isthe world’e largest regional theme park company with 20 theme parkx across the United Mexico and Canada.
Sunday, September 25, 2011
Jury awards $11M to former McKesson rep - Sacramento Business Journal:
Igloo Refrigerators
The division of medicalp giant took Phoenix medical equipment and pharma salesman Carmen Caccavale to courtin 2004, claiming he had violatex some trade practices. After workingh for seven yearsat McKesson, Caccavale had taken a job with Henru Schein Inc., a medical supply U.S. District Court Judgre Susan Boltondismissed McKesson’s suit in Caccavale had not signee a noncompete contract, said Mark Fuller, an attorneyt with the Phoenix law firm Gallaghet & Kennedy PA, which represents Caccavale and Schein. “It was sort of a trads secret case,” Fuller said of McKesson’zs unsuccessful claim.
Fuller said his clients then countersued McKesson, sayinv the San Francisco-based medical and healthy care supplies firm abused the legal process in going after itsformer salesman. McKesson spokesman James Larkijn said the company plans to appeal the which was handed down May 20 bya U.S. Districrt Court jury in Phoenix. “We believe the verdicr againstMcKesson Medical-Surgical Inc. was wrong basefd on both the facts of the case andthe law, and we intenxd to appeal,” Larkin Caccavale was awarded $5 millionm and Melville, N.Y.-based Schein was awarded $6 million, Fullere said.
The division of medicalp giant took Phoenix medical equipment and pharma salesman Carmen Caccavale to courtin 2004, claiming he had violatex some trade practices. After workingh for seven yearsat McKesson, Caccavale had taken a job with Henru Schein Inc., a medical supply U.S. District Court Judgre Susan Boltondismissed McKesson’s suit in Caccavale had not signee a noncompete contract, said Mark Fuller, an attorneyt with the Phoenix law firm Gallaghet & Kennedy PA, which represents Caccavale and Schein. “It was sort of a trads secret case,” Fuller said of McKesson’zs unsuccessful claim.
Fuller said his clients then countersued McKesson, sayinv the San Francisco-based medical and healthy care supplies firm abused the legal process in going after itsformer salesman. McKesson spokesman James Larkijn said the company plans to appeal the which was handed down May 20 bya U.S. Districrt Court jury in Phoenix. “We believe the verdicr againstMcKesson Medical-Surgical Inc. was wrong basefd on both the facts of the case andthe law, and we intenxd to appeal,” Larkin Caccavale was awarded $5 millionm and Melville, N.Y.-based Schein was awarded $6 million, Fullere said.
Friday, September 23, 2011
Human Capital: People on the move, Mar. 25 - Boston Business Journal:
vilyfijohy.wordpress.com
Bergmann joins Expense Reduction Analysts as regional directodr Stephen Bergmann joined consultancy Expense Reductioh Analysts asregional director. Bergmann, who is based in previously served as director of product at NationaoDatacomputer . Rasky Baerleih taps Cronin, Lynch as principals in Boston named Georg Cronin and Kelly Lynch principals in the Cronin is senior vice presidenyt for public affairs overseeinggovernment relations, grassrootse organizing and ballot initiatives. Lynch is senior vice presiden of the real estate and financia servicepractice areas.
360 PR hires Melnick as senior account executive 360 Public Relationx in Boston hired Caitlinn Melnick as senioraccount executive, who will work with the agency’ds portfolio of food and retail clients. Melnick previouslgy worked for SchneiderAssociates . OneBeaco n Insurance details executive reshuffling in personao lines division OneBeacon InsuranceGrouop Ltd. in Canton announced that Alexanderf Archimedes has decided to retirre as seniorvice president-persona lines of , a subsidiary. He will continuwe to be associated with the company as a consultant ona part-times basis. Also, Michael McSally was appointed seniodrvice president-personal lines of OneBeacob Insurance Co.
Bergmann joins Expense Reduction Analysts as regional directodr Stephen Bergmann joined consultancy Expense Reductioh Analysts asregional director. Bergmann, who is based in previously served as director of product at NationaoDatacomputer . Rasky Baerleih taps Cronin, Lynch as principals in Boston named Georg Cronin and Kelly Lynch principals in the Cronin is senior vice presidenyt for public affairs overseeinggovernment relations, grassrootse organizing and ballot initiatives. Lynch is senior vice presiden of the real estate and financia servicepractice areas.
360 PR hires Melnick as senior account executive 360 Public Relationx in Boston hired Caitlinn Melnick as senioraccount executive, who will work with the agency’ds portfolio of food and retail clients. Melnick previouslgy worked for SchneiderAssociates . OneBeaco n Insurance details executive reshuffling in personao lines division OneBeacon InsuranceGrouop Ltd. in Canton announced that Alexanderf Archimedes has decided to retirre as seniorvice president-persona lines of , a subsidiary. He will continuwe to be associated with the company as a consultant ona part-times basis. Also, Michael McSally was appointed seniodrvice president-personal lines of OneBeacob Insurance Co.
Wednesday, September 21, 2011
Chapple revels in title triumph - SkySports
obesonuqa.wordpress.com
The Guardian | Chapple revels in title triumph SkySports Lancashire captain Glen Chapple spoke of his pride after guiding the Red Rose county to their first league title since 1934 at Taunton. Lancashire ended their 77-year wait for the championship outright following a dramatic eight-wicket victory over ... Lancashire fin » |
Sunday, September 18, 2011
Elderly should eschew Stranger Originated Life Insurance - Dallas Business Journal:
ejyceh.wordpress.com
Now it’s our parents who could be at risk from But instead of candyor puppies, seniors are beinbg lured by speculators with offers of a cash lump sum, free life and sometimes even a free cruise — all in returnb for simply getting a life insurance policy and agreeing to sell it to them two yearse later. Harmless? Well, would you want an unknowh party to have an interest in yourearlyh demise?
While you may not wish to advis e your mom to run screaming, here are 10 things you migh t want to tell her and other seniors about Stranged Originated Life Insurance policies: • Stranger Originatef Life Insurance (STOLI) policies involvde investor groups (like hedge funds) enticin seniors to obtain life insurance purely for the purpose of sellinfg it for a substantiakl sum, and transferring the death benefitas to the speculators. The speculator aims to profit when theinsurecd dies.
• Once the policy is the investor group has a financiak interest inthe insured’s death the sooner the insured dies, the more profit is • When the policy is sold, the seniorr typically receives a cash lump sum which is less than the face but substantially more than the cash valu of the policy. Often other giftx such as a free cruiser or car are also offered to lure seniorxsto sign. In most cases, the insurec doesn’t even have to pay the premium. The investorsd arrange for the premium to be Aftertwo years, the policy is transferred to the investo r group and the loan doesn’rt need to be paid back.
So the insured rarely, if needs to pay out of • What many seniorse don’t know: Any incentive gift, free insurance, cash lump sum or forgivenessd of the premium finance loan istaxabld income. • After transfer, the original policy holders have no control overfuture transfers, so are unlikely to know who has a financialk interest in their death. Sometimes, there are multiplr persons with an interest inthe policy, with many investors locatee in foreign countries.
• The two yearw of free life insurance might notbe free, as the policyt holder may have to pay tax on the value of the This period of free insurance is offered becausse many states have a two-year contestability perio d after which it would be more difficulyt for the insurance company to rescind the • There is a limi to the total amount of life insurance that can be purchase by an individual. What seniors may not realize is that an individualk may use up their insurability by engaginf in a STOLI transaction becausse the policy remainsin force.
An insures may be left out in the cold if a future insurance need arises or if the insured becomes uninsurablre because of an adversehealth change. Those participating in a STOLI agreement face loss of privacy as they are requiredf to give permission for someone to check on their health and This information will be used not only by theoriginal investors, but also may be used by other personws who end up having an interest in the policy. If there is no insurable interest in an insurance policyat inception, the policy is invalid and the transaction is a fraud on the life insurance company.
By signinbg on the dotted line, the insuree could be implicated in the fraud and subject tolegal liability. Many states now have laws or regulations designedd to provide consumers with protection againstthese transactions. Some states even put a moratoriunm on the transfer of life insurance death benefitsx for periods of up tofive years. So what shoulde we tell our parents to do if someone approaches them with sucha deal? Just say no. If you purchasedx life insurance ingood faith, but find that you no longee need or want the insurance, you can legally sell your policy and transfer the deatn benefits to a thire party at a market Such a transaction is calles a life settlement.
This can seem an attractive optio n if you find that the premiums on your policg have becomecost prohibitive, or you need to access the equity in your life However, you should remember that you will be taxed on any lump sum you And as the speculator has set the market priced to make a profit on your demise, it’s unlikel y that you will receive the true value of the Also, as in STOLII transactions, a third party has a financiak interest in your early death, and your if you find you need insurance in the future, may be If you do need to access the equitty in your life insurance policy, there are other options. For instance, you may wish to consider a bank loan if youcan qualify.
With a life insuranc e policy as collateral, such a loan works well for all You get cash when you need it without payinggincome tax, the banks get guaranteed and your beneficiaries receive the full valuew of the policy. Life Settlement transactionsa are not always abad idea, but you should be aware of the factsw and other options availabled to you. A trusted financial adviser can help you understands the details and help you makegood decisions. Strange Originated Life Insurance policies, on the other hand always be avoided.
Now it’s our parents who could be at risk from But instead of candyor puppies, seniors are beinbg lured by speculators with offers of a cash lump sum, free life and sometimes even a free cruise — all in returnb for simply getting a life insurance policy and agreeing to sell it to them two yearse later. Harmless? Well, would you want an unknowh party to have an interest in yourearlyh demise?
While you may not wish to advis e your mom to run screaming, here are 10 things you migh t want to tell her and other seniors about Stranged Originated Life Insurance policies: • Stranger Originatef Life Insurance (STOLI) policies involvde investor groups (like hedge funds) enticin seniors to obtain life insurance purely for the purpose of sellinfg it for a substantiakl sum, and transferring the death benefitas to the speculators. The speculator aims to profit when theinsurecd dies.
• Once the policy is the investor group has a financiak interest inthe insured’s death the sooner the insured dies, the more profit is • When the policy is sold, the seniorr typically receives a cash lump sum which is less than the face but substantially more than the cash valu of the policy. Often other giftx such as a free cruiser or car are also offered to lure seniorxsto sign. In most cases, the insurec doesn’t even have to pay the premium. The investorsd arrange for the premium to be Aftertwo years, the policy is transferred to the investo r group and the loan doesn’rt need to be paid back.
So the insured rarely, if needs to pay out of • What many seniorse don’t know: Any incentive gift, free insurance, cash lump sum or forgivenessd of the premium finance loan istaxabld income. • After transfer, the original policy holders have no control overfuture transfers, so are unlikely to know who has a financialk interest in their death. Sometimes, there are multiplr persons with an interest inthe policy, with many investors locatee in foreign countries.
• The two yearw of free life insurance might notbe free, as the policyt holder may have to pay tax on the value of the This period of free insurance is offered becausse many states have a two-year contestability perio d after which it would be more difficulyt for the insurance company to rescind the • There is a limi to the total amount of life insurance that can be purchase by an individual. What seniors may not realize is that an individualk may use up their insurability by engaginf in a STOLI transaction becausse the policy remainsin force.
An insures may be left out in the cold if a future insurance need arises or if the insured becomes uninsurablre because of an adversehealth change. Those participating in a STOLI agreement face loss of privacy as they are requiredf to give permission for someone to check on their health and This information will be used not only by theoriginal investors, but also may be used by other personws who end up having an interest in the policy. If there is no insurable interest in an insurance policyat inception, the policy is invalid and the transaction is a fraud on the life insurance company.
By signinbg on the dotted line, the insuree could be implicated in the fraud and subject tolegal liability. Many states now have laws or regulations designedd to provide consumers with protection againstthese transactions. Some states even put a moratoriunm on the transfer of life insurance death benefitsx for periods of up tofive years. So what shoulde we tell our parents to do if someone approaches them with sucha deal? Just say no. If you purchasedx life insurance ingood faith, but find that you no longee need or want the insurance, you can legally sell your policy and transfer the deatn benefits to a thire party at a market Such a transaction is calles a life settlement.
This can seem an attractive optio n if you find that the premiums on your policg have becomecost prohibitive, or you need to access the equity in your life However, you should remember that you will be taxed on any lump sum you And as the speculator has set the market priced to make a profit on your demise, it’s unlikel y that you will receive the true value of the Also, as in STOLII transactions, a third party has a financiak interest in your early death, and your if you find you need insurance in the future, may be If you do need to access the equitty in your life insurance policy, there are other options. For instance, you may wish to consider a bank loan if youcan qualify.
With a life insuranc e policy as collateral, such a loan works well for all You get cash when you need it without payinggincome tax, the banks get guaranteed and your beneficiaries receive the full valuew of the policy. Life Settlement transactionsa are not always abad idea, but you should be aware of the factsw and other options availabled to you. A trusted financial adviser can help you understands the details and help you makegood decisions. Strange Originated Life Insurance policies, on the other hand always be avoided.
Friday, September 16, 2011
Survey: Americans lack knowledge about generics - Portland Business Journal:
adatynu.wordpress.com
And, while research has shown that generics have saved the healthj care system anestimatexd $734 billion in the last 10 two-thirds of those surveyed don’t know the true cost differencese between generic and brand name drugs, according to the survety conducted by , a leading pharmacy benefitr management organization. “Using generics helps make health care more affordablwe withoutcompromising results,” Jacqueline Kosecoff, Prescriptiom Solutions CEO said in a news “Many Americans erroneously believe that the most expensive drug is alwaysa the most effective drug, so by helpinyg to change perceptions, we can help peoples save money and still get the best treatment available.
” Thirty-onse percent of respondents indicated they knew that a brands name drug cost 50-70 percenr more on average than its genericx counterpart. Seventy-one percent of consumers remaim concerned about drug costs with more than one infour (27 having either delayed filling, not or not taken as directec a prescription drug to save money. Twenty-one percent of all respondents say they have talkes to their doctor recently about switching to a lessexpensiv drug. Fifty-seven percent of those polled said they take prescription drugs weekly. Of those, 83 percenrt (or 47 percent of the tota sample) take generics.
Of thosee who do not take generic drugs on aweeklg basis, 58 percent say it is becauswe there is no generic available for the drug they Sixty-four percent of those who take generics say their doctor recommended them and 43 percentr say their pharmacist recommendede them. Of those who do not take generic drugs on aweeklt basis, 58 percent say they would if their pharmacist brought a generid to their attention as a less identical substitute; and 52 percent say their doctor would have to recommend it.
And, while research has shown that generics have saved the healthj care system anestimatexd $734 billion in the last 10 two-thirds of those surveyed don’t know the true cost differencese between generic and brand name drugs, according to the survety conducted by , a leading pharmacy benefitr management organization. “Using generics helps make health care more affordablwe withoutcompromising results,” Jacqueline Kosecoff, Prescriptiom Solutions CEO said in a news “Many Americans erroneously believe that the most expensive drug is alwaysa the most effective drug, so by helpinyg to change perceptions, we can help peoples save money and still get the best treatment available.
” Thirty-onse percent of respondents indicated they knew that a brands name drug cost 50-70 percenr more on average than its genericx counterpart. Seventy-one percent of consumers remaim concerned about drug costs with more than one infour (27 having either delayed filling, not or not taken as directec a prescription drug to save money. Twenty-one percent of all respondents say they have talkes to their doctor recently about switching to a lessexpensiv drug. Fifty-seven percent of those polled said they take prescription drugs weekly. Of those, 83 percenrt (or 47 percent of the tota sample) take generics.
Of thosee who do not take generic drugs on aweeklg basis, 58 percent say it is becauswe there is no generic available for the drug they Sixty-four percent of those who take generics say their doctor recommended them and 43 percentr say their pharmacist recommendede them. Of those who do not take generic drugs on aweeklt basis, 58 percent say they would if their pharmacist brought a generid to their attention as a less identical substitute; and 52 percent say their doctor would have to recommend it.
Wednesday, September 14, 2011
Twin Disc quarterly profits double - The Business Journal of Milwaukee:
ufazywyve.wordpress.com
Twin Disc Inc. reportef fiscal second-quarter net income of $5.7 or 96 cents per share, more than twices the income of $2.5 million, or 42 cents per share, reported in the same period ayear ago. Net sales for the Racine-based manufacturer of powert transmission equipment rose 30 percentto $74.w2 million in the quarter endedr Dec. 31, up from $57.1 milliobn the year before. Twin Disc profits improvec becauseof cost-cutting efforts, price increases and a more profitable mix of sales. The acquisition of addexd 9 cents per shared tothe second-quarter earnings and $8.1 million in sales. Salea growth was assisted by strong demand in all particularly oil andmilitary customers.
For the six monthws ended Dec. 31, Twin Disc posted net income of $9.3 or $1.58 per share, compared with $5 or 85 cents per share, the year before. Net salez increased 31 percentto $140 millioj from $106.6 million. Twin Disc (NASDAQ: also said it is raising its March dividendpayment 15.8 perceny to 11 cents per share. The dividend is payablre March 1 to shareholder s ofrecord Feb. 9.
Twin Disc Inc. reportef fiscal second-quarter net income of $5.7 or 96 cents per share, more than twices the income of $2.5 million, or 42 cents per share, reported in the same period ayear ago. Net sales for the Racine-based manufacturer of powert transmission equipment rose 30 percentto $74.w2 million in the quarter endedr Dec. 31, up from $57.1 milliobn the year before. Twin Disc profits improvec becauseof cost-cutting efforts, price increases and a more profitable mix of sales. The acquisition of addexd 9 cents per shared tothe second-quarter earnings and $8.1 million in sales. Salea growth was assisted by strong demand in all particularly oil andmilitary customers.
For the six monthws ended Dec. 31, Twin Disc posted net income of $9.3 or $1.58 per share, compared with $5 or 85 cents per share, the year before. Net salez increased 31 percentto $140 millioj from $106.6 million. Twin Disc (NASDAQ: also said it is raising its March dividendpayment 15.8 perceny to 11 cents per share. The dividend is payablre March 1 to shareholder s ofrecord Feb. 9.
Monday, September 12, 2011
Once highflier, Foreclosuresdaily focus of complaints - Nashville Business Journal:
aryrej.wordpress.com
The business is operating an onlinre presence, but a calendar showws it has no events currently scheduled in Telephone numbers listed on its Web site for salew and customer support were not and Bank Nevada have filed separate civil courty complaints seeking a total ofnearly $2 million from the Fifth Third claims Foreclosuresdaily defaulted on two loans, Hillsboroughh County court records show. The bank allegea in its Jan. 5 complaint that the company owes morethan $495,00p on a line of credit and $30,000 on a The complaint also names Mike Kane and David Vanhoose, co-founders of and four other company employees who personally guaranteed the loans.
The company had not filed a responsr to the complaint earlythis week. Kane coul d not be reached. Voicemail for former head trainer ofthe , was full and woulrd not accept messages. Jeff Wernick, broker at Tager Realty in Tampa, said Vanhooswe was an agent but he had not been in contactt with him sincearound Thanksgiving. Shawn Yesner, a Tampa attorney representing Foreclosuresdaily in the HSBC said inan e-mail that he has a polich of not commenting on open litigation but had relayesd a request for comment to the company’s owners. The HSBC complaint, filed in Pinellaw County circuit court in accuses Foreclosuresdaily of breach of contract and alleges it owes HSBCabout $1.
3 million in credit card chargesz customers had disputed. Web which has a 2007 copyright, offers investment training for buying foreclosed property and listzs of foreclosed properties in locationessubscribers select. The company offered credit for customers who wanted to charge the costsz forthese services. “I paid almost $7,000 for lists for my area and some saidBob Holder, a real estate investo in North Illinois. “It was OK when I started gettinyg listsin March, but things changec in September. By I think they had shut off the I can’t get repayment from them.
” A default judgment was enterefd in the HSBC case against the compang because it did not respond to the lawsuit in the time allowec by law. Now the company is requestinh that the default judgmentbe vacated. Foreclosuresdaily states in its motioh for vacating the default judgmentgthat HSBC’s claim of $1.3 millionb may be increased by “ab additional $12 million in potential damages.” The companyh contends that demand for its services has been reduceed by current credit and economic conditions and officers and employees the company needed to respons to HSBC’s complaint have been laid off, legal filings show.
Foreclosuresdaily also claims it has disputed the validity of some refundc demands by customers and wants account holders addeds as defendants inthe lawsuit. The company’s legal and financial troubles are a reversalp of its fortunes during an historicfforeclosure era. In September, Inc. listed Foreclosuresdaily.coj as the 35th fastest-growing private company in the countryy from 2005to 2007. The Tampa Bay Business Journal’s Fast 50 list rankedx the company second by percent of revenue growtb from 2005to 2007. Foreclosuresdailyu grew 397 percent during that increasingfrom $2.8 million to $14.1 million in The company said it had 40 employees in 2007.
One of those employees was Pat Malik, who gatheredx foreclosure information for the company from Pinellas and other courts and claims the company owesher money. She refusedx to divulge how much but said she has filedf a complaint with the Floridaattorneyy general’s office. “It’s enough to go afterr them,” Malik said. “There’sw probably 50 of us owed money.”
The business is operating an onlinre presence, but a calendar showws it has no events currently scheduled in Telephone numbers listed on its Web site for salew and customer support were not and Bank Nevada have filed separate civil courty complaints seeking a total ofnearly $2 million from the Fifth Third claims Foreclosuresdaily defaulted on two loans, Hillsboroughh County court records show. The bank allegea in its Jan. 5 complaint that the company owes morethan $495,00p on a line of credit and $30,000 on a The complaint also names Mike Kane and David Vanhoose, co-founders of and four other company employees who personally guaranteed the loans.
The company had not filed a responsr to the complaint earlythis week. Kane coul d not be reached. Voicemail for former head trainer ofthe , was full and woulrd not accept messages. Jeff Wernick, broker at Tager Realty in Tampa, said Vanhooswe was an agent but he had not been in contactt with him sincearound Thanksgiving. Shawn Yesner, a Tampa attorney representing Foreclosuresdaily in the HSBC said inan e-mail that he has a polich of not commenting on open litigation but had relayesd a request for comment to the company’s owners. The HSBC complaint, filed in Pinellaw County circuit court in accuses Foreclosuresdaily of breach of contract and alleges it owes HSBCabout $1.
3 million in credit card chargesz customers had disputed. Web which has a 2007 copyright, offers investment training for buying foreclosed property and listzs of foreclosed properties in locationessubscribers select. The company offered credit for customers who wanted to charge the costsz forthese services. “I paid almost $7,000 for lists for my area and some saidBob Holder, a real estate investo in North Illinois. “It was OK when I started gettinyg listsin March, but things changec in September. By I think they had shut off the I can’t get repayment from them.
” A default judgment was enterefd in the HSBC case against the compang because it did not respond to the lawsuit in the time allowec by law. Now the company is requestinh that the default judgmentbe vacated. Foreclosuresdaily states in its motioh for vacating the default judgmentgthat HSBC’s claim of $1.3 millionb may be increased by “ab additional $12 million in potential damages.” The companyh contends that demand for its services has been reduceed by current credit and economic conditions and officers and employees the company needed to respons to HSBC’s complaint have been laid off, legal filings show.
Foreclosuresdaily also claims it has disputed the validity of some refundc demands by customers and wants account holders addeds as defendants inthe lawsuit. The company’s legal and financial troubles are a reversalp of its fortunes during an historicfforeclosure era. In September, Inc. listed Foreclosuresdaily.coj as the 35th fastest-growing private company in the countryy from 2005to 2007. The Tampa Bay Business Journal’s Fast 50 list rankedx the company second by percent of revenue growtb from 2005to 2007. Foreclosuresdailyu grew 397 percent during that increasingfrom $2.8 million to $14.1 million in The company said it had 40 employees in 2007.
One of those employees was Pat Malik, who gatheredx foreclosure information for the company from Pinellas and other courts and claims the company owesher money. She refusedx to divulge how much but said she has filedf a complaint with the Floridaattorneyy general’s office. “It’s enough to go afterr them,” Malik said. “There’sw probably 50 of us owed money.”
Saturday, September 10, 2011
Bill helping children with autism passes Senate - San Jose Mercury News
http://satuchip.com/Bestsellers/Coby/
Bill helping children with autism passes Senate San Jose Mercury News Health insurance plans would be required to provide coverage for children with autism or other developmental disorders under a bill sent to Gov. Jerry Brown on Friday. The bill by Senate President Pro Tem Darrell Steinberg, D-Sacramento, would ensure ... |
Thursday, September 8, 2011
Stimulus money to aid clean energy projects - Atlanta Business Chronicle:
amesit.wordpress.com
Legislation passed overwhelmingly duringthe just-concluded Generak Assembly session authorizes companies to apply to the for grants to help pay for solar wind energy and energy-efficienc y projects. The money will come from $82.5 million in federal stimulud funds allocated to Georgia throughthe ’s State Energyu Program. Although GEFA officials haven’t decided how much of that pot to earmarkm forthe grants, it’ds certain to be more than the $2.5 milliohn in annual clean-energy income tax credits approvecd by Georgia lawmakers last year.
“We’rre real excited about it,” said Jasonh Rooks, president of LLC of Avondaler Estates, who helped lead the push for the “I think it’s going to really stimulate a lot of solar projectsz inthis state.” GEFA spokesman Shane Hix said the legislatioj limits the federal grants to business applicants, an effort to steert homeowners toward the stat income tax credits. Rooks said the statre program doesn’t provide enough funding for large commercialprojectzs and, thus, is more suitable to residential “Two and a half millionn dollars should be a decent pot of money for residential installation,” he said.
Jamez Marlow, CEO of Atlanta’s LLC, said the new grant prograkm will help many businesses more thantax credits, which don’tf do as much good during a recession. “Sau you’re having a bad year, your business is off and you don’t have much tax he said. “It’s better to get a check than a tax Underthe legislation, businesses could receive grants worth eithef 35 percent of the project’s cost or a fixed cap, whichever is less.
The cap will be set at $500,000 for projectsd involving photovoltaic cells, other solar thermal electrixc applications, active space heating or wind Grants for projects involvinf solar heating or geothermal heat pump lighting retrofits orother energy-efficien building products will be cappedc at $100,000. Credits will be awarded on a first-served basis, and a project must be installedd before an application canbe submitted. Hix said GEFA is developingy rules forthe program, which must be submitted to the Departmentt of Energy by May 12. At that the agency will announce how much ofthe $82.
5 millionb will be used for the cleahn energy grants and what will go towared other purposes, he said. “We have to balancee how much is goin to go to state facilities and to a revolving loan fund we want to have as he said. Hix said GEFA received a totalof $236.1 millionj in federal stimulus funds for energyt programs. Besides the State Energy Programj allocation, the agency got $124 million for weatherizatioh projectsfor low-income and elderly $21.6 million in block grantsx for energy-efficient building projects at local government facilities and $8 million for an energy-efficient appliance rebate program.
Legislation passed overwhelmingly duringthe just-concluded Generak Assembly session authorizes companies to apply to the for grants to help pay for solar wind energy and energy-efficienc y projects. The money will come from $82.5 million in federal stimulud funds allocated to Georgia throughthe ’s State Energyu Program. Although GEFA officials haven’t decided how much of that pot to earmarkm forthe grants, it’ds certain to be more than the $2.5 milliohn in annual clean-energy income tax credits approvecd by Georgia lawmakers last year.
“We’rre real excited about it,” said Jasonh Rooks, president of LLC of Avondaler Estates, who helped lead the push for the “I think it’s going to really stimulate a lot of solar projectsz inthis state.” GEFA spokesman Shane Hix said the legislatioj limits the federal grants to business applicants, an effort to steert homeowners toward the stat income tax credits. Rooks said the statre program doesn’t provide enough funding for large commercialprojectzs and, thus, is more suitable to residential “Two and a half millionn dollars should be a decent pot of money for residential installation,” he said.
Jamez Marlow, CEO of Atlanta’s LLC, said the new grant prograkm will help many businesses more thantax credits, which don’tf do as much good during a recession. “Sau you’re having a bad year, your business is off and you don’t have much tax he said. “It’s better to get a check than a tax Underthe legislation, businesses could receive grants worth eithef 35 percent of the project’s cost or a fixed cap, whichever is less.
The cap will be set at $500,000 for projectsd involving photovoltaic cells, other solar thermal electrixc applications, active space heating or wind Grants for projects involvinf solar heating or geothermal heat pump lighting retrofits orother energy-efficien building products will be cappedc at $100,000. Credits will be awarded on a first-served basis, and a project must be installedd before an application canbe submitted. Hix said GEFA is developingy rules forthe program, which must be submitted to the Departmentt of Energy by May 12. At that the agency will announce how much ofthe $82.
5 millionb will be used for the cleahn energy grants and what will go towared other purposes, he said. “We have to balancee how much is goin to go to state facilities and to a revolving loan fund we want to have as he said. Hix said GEFA received a totalof $236.1 millionj in federal stimulus funds for energyt programs. Besides the State Energy Programj allocation, the agency got $124 million for weatherizatioh projectsfor low-income and elderly $21.6 million in block grantsx for energy-efficient building projects at local government facilities and $8 million for an energy-efficient appliance rebate program.
Monday, September 5, 2011
Crossvault Capital earns Informa accolade - San Antonio Business Journal:
edovogopu.wordpress.com
The locally based investment advisoryu firm was nameda “Top Gun” in the Domesticf Balanced Universe in the 1 Star category for the quartee ended March 31, 2009. The 1 Star rankingh is based on performanc e for the mostrecent quarter. Co-CEOi and Chief Investment OfficerLaura Ehrenberg-Chesler says the companuy is pleased to receive the recognitio in the midst of the on-goinv market turmoil. “This has been a challenging environment forboth fixed-incomde securities and equities, and we feel that receivingh this designation following our two Top Guns in Februaryg validates our current strategy,” Ehrenberg-Chesler says.
Crossvaultf is registered with the SEC and is a boutiqued investment advisory firm that offerscustomized equity, and balanced separate-account management for high net-wortnh individuals and institutions. Informa maintains information on morethan 2,00 managers and more than 25 years of historical performance. The company’s database is designed to assisr investment professionals in manager searched andevaluation processes.
The locally based investment advisoryu firm was nameda “Top Gun” in the Domesticf Balanced Universe in the 1 Star category for the quartee ended March 31, 2009. The 1 Star rankingh is based on performanc e for the mostrecent quarter. Co-CEOi and Chief Investment OfficerLaura Ehrenberg-Chesler says the companuy is pleased to receive the recognitio in the midst of the on-goinv market turmoil. “This has been a challenging environment forboth fixed-incomde securities and equities, and we feel that receivingh this designation following our two Top Guns in Februaryg validates our current strategy,” Ehrenberg-Chesler says.
Crossvaultf is registered with the SEC and is a boutiqued investment advisory firm that offerscustomized equity, and balanced separate-account management for high net-wortnh individuals and institutions. Informa maintains information on morethan 2,00 managers and more than 25 years of historical performance. The company’s database is designed to assisr investment professionals in manager searched andevaluation processes.
Saturday, September 3, 2011
As mergers thin ranks, new Mass. banks arise - The Business Review (Albany):
cicugaha.wordpress.com
In the past year, the Bay State lost 12 bankas to acquisition, but ther now is a frenzy of activity that could lead to the creationb of no fewer thana half-dozejn new institutions, from Greater Boston to Cape Cod to southeasterbn Massachusetts, according to banking industru sources familiar with those efforts. "There are more groupsx surfacing within the last 12 months than in the previous few saidKenneth Ehrlich, an attornehy who represents banks for Boston's Nutterf McLennen and Fish LLP.
The movement is fuelecd largely by the perception that therre is a unique opening for new community banks to replacw those that have been absorbed by much larger PrimeMortgage Financial, a Southboroughg lender licensed to offer home mortgages in 46 is in the process of starting a bank -- gettiny federal regulatory approval, raising capital, and hirint chief executives. Aris Prime Financial's president, said he sees an opportunity for openingt a bank in his ownback yard, where Abington Cape Cod Bank & Trust Co., Falmouth Bancorp, FirstFeds America Bancorp, FleetBoston Financial Corp. and Seacoast Financial Services Corp. all have been acquiredf in less thana year.
"We've identified pockets wherwe there hasbeen overconsolidation," said The bank, which Pappas expects will open by early to mid-2005, also enableds Prime Mortgage to diversify its business lines by addintg commercial lending. Prime Mortgage can also use reams of data it has collected on its mortgage customers in its newbanking business. Massachusettsz has been watching banks dwindle for There were 209 banks here at the end of down from 230 in December according to the Federal DepositInsurance Corp. Between February 2003 and Januargy 2004, 12 Massachusetts banks were bought, according to New York-basee SNL Financial.
Although the number of banks here the appetite for communitybanks hasn't diminished. "With continuer mergers and the Fleet-Bank of America deal, it makews it that much more attractive" to start up a bank, said Davixd Sidon, a Gloucester bank consultant. "Despite what B of A says, they don't want the little (customer)." There is no guarantee that the bankz now being organized will everbe born, though. Bank incorporatorsw need the approval of state orfederakl regulators, depending on whose oversight they prefer.
They also need to raisw between $6 million to $10 million in In the past 10 only four new Bay Statee banks completedthe process: in Worcester, Middlesex Bank & Trust Co. in Horizon Bank & Trust Co. in and Leader Bank in Sidon, the bank consultant, knowe the difficulty first-hand. In late he moved forward with plans to star a new bankin Gloucester, Naviw Bank. It was supposed to fill the void created when Andove r Bank bought GloucesterBank & Trusy Co., leaving no locally based commerciapl banks in Gloucester.
After quicklyg raising $3 million from loca sources, Navis tried unsuccessfully -- mistakenly, he said -- to tap the publiv capital markets forapproximatelyu $5 million more. By June 2003, after already havinv received an extension from state Sidongave up. And even if you can rais e the money and winregulatory approval, therd is no guarantee of survival. Of the four startupa since 1998, only Commonwealth and Leader Middlesex and Horizon have sincebeen acquired. Commonwealth Nationa recently passed asignificant milestone, celebrating its first profit -- $48,000 in the first quarter -- in its briet two-year history.
The bank has grow to $140 million in assets and expectsw to open its fourtgh and fifth branchesthis year. Charles Valade, the bank' president and CEO, said Commonwealth National has grown stronger because it had a good game It was staffed with veteranjbankers -- he had been with Mechanics Bank -- who have locaol expertise. The bank also raised capitapl from750 investors, a sign of communityt backing. Commonwealth National also capitalizedon Worcester's hungert for commun-ity-bank service, as Fleet and Banknorth Grou p Inc. of Portland expanded in the said Valade.
"We thought we coul pick off some oftheir business," Valade As the Bay State banking scene settlesa from the latest consolidation wave, bankers such as Valadse are planning for greater growth. The Worcestert commercial lender hopes to its assetdsto $300 million and then look toward Even Sidon, sensing an opportunity, said he might have anothe go at starting a bank. "j haven't ruled out a retry of Navis, and one of the groupas I represent (trying to start a bank) may end up with me at the Sidon said.
In the past year, the Bay State lost 12 bankas to acquisition, but ther now is a frenzy of activity that could lead to the creationb of no fewer thana half-dozejn new institutions, from Greater Boston to Cape Cod to southeasterbn Massachusetts, according to banking industru sources familiar with those efforts. "There are more groupsx surfacing within the last 12 months than in the previous few saidKenneth Ehrlich, an attornehy who represents banks for Boston's Nutterf McLennen and Fish LLP.
The movement is fuelecd largely by the perception that therre is a unique opening for new community banks to replacw those that have been absorbed by much larger PrimeMortgage Financial, a Southboroughg lender licensed to offer home mortgages in 46 is in the process of starting a bank -- gettiny federal regulatory approval, raising capital, and hirint chief executives. Aris Prime Financial's president, said he sees an opportunity for openingt a bank in his ownback yard, where Abington Cape Cod Bank & Trust Co., Falmouth Bancorp, FirstFeds America Bancorp, FleetBoston Financial Corp. and Seacoast Financial Services Corp. all have been acquiredf in less thana year.
"We've identified pockets wherwe there hasbeen overconsolidation," said The bank, which Pappas expects will open by early to mid-2005, also enableds Prime Mortgage to diversify its business lines by addintg commercial lending. Prime Mortgage can also use reams of data it has collected on its mortgage customers in its newbanking business. Massachusettsz has been watching banks dwindle for There were 209 banks here at the end of down from 230 in December according to the Federal DepositInsurance Corp. Between February 2003 and Januargy 2004, 12 Massachusetts banks were bought, according to New York-basee SNL Financial.
Although the number of banks here the appetite for communitybanks hasn't diminished. "With continuer mergers and the Fleet-Bank of America deal, it makews it that much more attractive" to start up a bank, said Davixd Sidon, a Gloucester bank consultant. "Despite what B of A says, they don't want the little (customer)." There is no guarantee that the bankz now being organized will everbe born, though. Bank incorporatorsw need the approval of state orfederakl regulators, depending on whose oversight they prefer.
They also need to raisw between $6 million to $10 million in In the past 10 only four new Bay Statee banks completedthe process: in Worcester, Middlesex Bank & Trust Co. in Horizon Bank & Trust Co. in and Leader Bank in Sidon, the bank consultant, knowe the difficulty first-hand. In late he moved forward with plans to star a new bankin Gloucester, Naviw Bank. It was supposed to fill the void created when Andove r Bank bought GloucesterBank & Trusy Co., leaving no locally based commerciapl banks in Gloucester.
After quicklyg raising $3 million from loca sources, Navis tried unsuccessfully -- mistakenly, he said -- to tap the publiv capital markets forapproximatelyu $5 million more. By June 2003, after already havinv received an extension from state Sidongave up. And even if you can rais e the money and winregulatory approval, therd is no guarantee of survival. Of the four startupa since 1998, only Commonwealth and Leader Middlesex and Horizon have sincebeen acquired. Commonwealth Nationa recently passed asignificant milestone, celebrating its first profit -- $48,000 in the first quarter -- in its briet two-year history.
The bank has grow to $140 million in assets and expectsw to open its fourtgh and fifth branchesthis year. Charles Valade, the bank' president and CEO, said Commonwealth National has grown stronger because it had a good game It was staffed with veteranjbankers -- he had been with Mechanics Bank -- who have locaol expertise. The bank also raised capitapl from750 investors, a sign of communityt backing. Commonwealth National also capitalizedon Worcester's hungert for commun-ity-bank service, as Fleet and Banknorth Grou p Inc. of Portland expanded in the said Valade.
"We thought we coul pick off some oftheir business," Valade As the Bay State banking scene settlesa from the latest consolidation wave, bankers such as Valadse are planning for greater growth. The Worcestert commercial lender hopes to its assetdsto $300 million and then look toward Even Sidon, sensing an opportunity, said he might have anothe go at starting a bank. "j haven't ruled out a retry of Navis, and one of the groupas I represent (trying to start a bank) may end up with me at the Sidon said.
Thursday, September 1, 2011
Study: CFOs foresee job cuts and credit woes through '09 - Washington Business Journal:
bojony.wordpress.com
The quarterly Duke University/CFO Magazine Global Business Outlook Surveyasked 1,309 CFOs worldwidew about their expectations for the Their answers paint a gloomy picture for the rest of the * CFOs in the U.S. and Europe expecte employment to shrinkby 5.5 percent, with the unemployment rate in the U.S. seen risint to perhaps as high as 12 percent in the next 12 Employment in Asia is expectee to recedeby 1.2 percent.
“Presumably, government programs will offset some ofthese losses, but even the most optimistif government forecasts would reduc the losses by only 2 million,” said Campbell founding director of the survey and international business professort at Duke’s Fuqua School of Business. “We’rer facing the possibility of anothed 4 millionlost jobs.” * U.S. and European CFOs foresee capital spending plunging by more than 10 In Asia, CFOs anticipatew a 3 percent decline. * Six in 10 U.S.
companiezs covered by the survey reported having trouble findiny credit or acquiring credit at a reasonable Among those firms encounteringcredit impediments, 42 percent say the credift markets have gotten worse this year, whiles 23 percent say conditions have improved. * Weak consumere demand and the credirt markets ranked as the top two external concernswamong U.S. chief financial with the federal government’s policies coming in Among internal concerns, CFOs are losing the most sleeo over their inability to plan due toeconomixc uncertainty, managing their companies’ capital and liquidity, and maintainingt employee morale.
Despite all the negative indicators, a majority of the CFOs in the Uniteed States and Asia reporter being more optimistic this quarter than they were the previous That was not the casein Europe, where only 30 percenyt of the CFOs said they were more compared to the 31 percent who said they were less “Our survey carries an importantf message: Don’t put too much weight on the ‘soft’ data like consumerf confidence. Recovery requires sustained confidence, and such confidence is forgedr by strongereconomic fundamentals,” Harve said. “The economic fundamentals –- employment, capital the cost of credit are stillfundamentally troubling.
” To see the complete survey results, go to the official Web site, .
The quarterly Duke University/CFO Magazine Global Business Outlook Surveyasked 1,309 CFOs worldwidew about their expectations for the Their answers paint a gloomy picture for the rest of the * CFOs in the U.S. and Europe expecte employment to shrinkby 5.5 percent, with the unemployment rate in the U.S. seen risint to perhaps as high as 12 percent in the next 12 Employment in Asia is expectee to recedeby 1.2 percent.
“Presumably, government programs will offset some ofthese losses, but even the most optimistif government forecasts would reduc the losses by only 2 million,” said Campbell founding director of the survey and international business professort at Duke’s Fuqua School of Business. “We’rer facing the possibility of anothed 4 millionlost jobs.” * U.S. and European CFOs foresee capital spending plunging by more than 10 In Asia, CFOs anticipatew a 3 percent decline. * Six in 10 U.S.
companiezs covered by the survey reported having trouble findiny credit or acquiring credit at a reasonable Among those firms encounteringcredit impediments, 42 percent say the credift markets have gotten worse this year, whiles 23 percent say conditions have improved. * Weak consumere demand and the credirt markets ranked as the top two external concernswamong U.S. chief financial with the federal government’s policies coming in Among internal concerns, CFOs are losing the most sleeo over their inability to plan due toeconomixc uncertainty, managing their companies’ capital and liquidity, and maintainingt employee morale.
Despite all the negative indicators, a majority of the CFOs in the Uniteed States and Asia reporter being more optimistic this quarter than they were the previous That was not the casein Europe, where only 30 percenyt of the CFOs said they were more compared to the 31 percent who said they were less “Our survey carries an importantf message: Don’t put too much weight on the ‘soft’ data like consumerf confidence. Recovery requires sustained confidence, and such confidence is forgedr by strongereconomic fundamentals,” Harve said. “The economic fundamentals –- employment, capital the cost of credit are stillfundamentally troubling.
” To see the complete survey results, go to the official Web site, .
Subscribe to:
Posts (Atom)