Homefront: Despite rumors, Hemlock is solidly committed to Clarksville Clarksville Leaf Chronicle I've been somewhat intrigued by the wild rumor mill this past week surrounding Hemlock Semiconductor LLC, and the impact that the global economy is having on perceptions of the company's standing even before Clarksville's first phase goes into ... |
Monday, November 14, 2011
Homefront: Despite rumors, Hemlock is solidly committed to Clarksville - Clarksville Leaf Chronicle
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Saturday, November 12, 2011
Homebuilder McStain files for Chapter 11 - Business Courier of Cincinnati:
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The Louisville-based company declared $10 million to $50 milliomn in assets, and the same range in liabilities. McStai n -- which does business as McStainjNeighborhoods -- has told customerds it plans to sell its finished homezs and complete those that are under The filing does not affect the Indian Peakss South neighborhood because of a separate ownership In February of this McStain told customers on its websitr that “we have been assured by our bankers and othed professional associates that we are healthier than most of the privatre builders they deal with. … To paraphrase Mark ‘The rumors of our demisse have beengreatly exaggerated.
’ Rumorxs that we filed for bankruptcy are simply not true.” Other Colorad builders to declare Chapter 11 recently include Villag Homes of Colorado in Greenwood Village, which had last year’a largest local bankruptcy reorganizationb with $138.4 million in and Tousa Inc., the Florida-based parenf of Colorado’s Engle Homesz Inc. John Laing Homes of Irvine, Calif., which was activer in metro Denver, filed Chapter 11 early this McStain’s largest unsecured creditordsinclude Scheer’s Inc. of Illinoiz (which is owed $10.85 Key Bank ($3 million), CRE400 Centennial LLC-Crestone ($2 million) and Williamm and Associates ofBoulder ($1.
54 according to the bankruptcy filing. Other unsecurecd creditors include FirstNational Bank, GE Capital, Namastw Solar Electric Inc., Guy’s Floor Services Inc. and the City and County of Denvet (sales tax). McStain has take significant steps to cut costs and shor up its flagging business in thelast year. The builder’ss former president and CEO, Eric voluntarily left the company in late summefr 2008 tosave money, and was replaced by McStaij co-founder Tom Hoyt. Hoyt took the titlesz president andboard chairman. McStain Enterprised also closed its physical headquarters operation in Louisvillelast November.
At that McStain had 21 employees, down from 75 peoplse early last fall and from a peak of 115 a fewyearsz ago. Remaining employees were to create avirtual office, using cell phones and computers. Tom and Carolin Hoyt, with their friend David Stainton, started McStain in when they bought a small Boulder customk builder called HorizonBuilding Co. Over the the partners built the companyu from a simple custom builder to a designer and developerof master-plannes communities such as Indianm Peaks in Lafayette and MeadowView in Longmont. They also moved into energy-efficient housing.
McStain has worked on several urba ninfill projects, as well, including ones in Denver’s Lowry and Stapleton neighborhoodse and Belmar in Lakewood.
The Louisville-based company declared $10 million to $50 milliomn in assets, and the same range in liabilities. McStai n -- which does business as McStainjNeighborhoods -- has told customerds it plans to sell its finished homezs and complete those that are under The filing does not affect the Indian Peakss South neighborhood because of a separate ownership In February of this McStain told customers on its websitr that “we have been assured by our bankers and othed professional associates that we are healthier than most of the privatre builders they deal with. … To paraphrase Mark ‘The rumors of our demisse have beengreatly exaggerated.
’ Rumorxs that we filed for bankruptcy are simply not true.” Other Colorad builders to declare Chapter 11 recently include Villag Homes of Colorado in Greenwood Village, which had last year’a largest local bankruptcy reorganizationb with $138.4 million in and Tousa Inc., the Florida-based parenf of Colorado’s Engle Homesz Inc. John Laing Homes of Irvine, Calif., which was activer in metro Denver, filed Chapter 11 early this McStain’s largest unsecured creditordsinclude Scheer’s Inc. of Illinoiz (which is owed $10.85 Key Bank ($3 million), CRE400 Centennial LLC-Crestone ($2 million) and Williamm and Associates ofBoulder ($1.
54 according to the bankruptcy filing. Other unsecurecd creditors include FirstNational Bank, GE Capital, Namastw Solar Electric Inc., Guy’s Floor Services Inc. and the City and County of Denvet (sales tax). McStain has take significant steps to cut costs and shor up its flagging business in thelast year. The builder’ss former president and CEO, Eric voluntarily left the company in late summefr 2008 tosave money, and was replaced by McStaij co-founder Tom Hoyt. Hoyt took the titlesz president andboard chairman. McStain Enterprised also closed its physical headquarters operation in Louisvillelast November.
At that McStain had 21 employees, down from 75 peoplse early last fall and from a peak of 115 a fewyearsz ago. Remaining employees were to create avirtual office, using cell phones and computers. Tom and Carolin Hoyt, with their friend David Stainton, started McStain in when they bought a small Boulder customk builder called HorizonBuilding Co. Over the the partners built the companyu from a simple custom builder to a designer and developerof master-plannes communities such as Indianm Peaks in Lafayette and MeadowView in Longmont. They also moved into energy-efficient housing.
McStain has worked on several urba ninfill projects, as well, including ones in Denver’s Lowry and Stapleton neighborhoodse and Belmar in Lakewood.
Wednesday, November 9, 2011
Two more leave BofA board - Business First of Columbus:
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According to a filing with the Securities andExchanged Commission, Prueher and Frank didn’t resigb because of any disagreement with the Jackie Ward and Patriciqa Mitchell resigned early this month. Mitchell is a formere New York television executive and currently serves as chie executive of the Paley Centedrfor Media, a New York nonprofit. Ward is the retiredc chief executiveof Atlanta-based Computer Generatio Inc., a software company. Robert Tillman, a formed Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA board effectiveMay 29. And on May 29, the bank announcedc former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directotr for13 years. In early June, four outsider directors were electedto BofA’se board. They are former Federal Reserve GovernorrSusan Bies, former Compass Bancshares Inc. chief executived and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donalrd Powell and retired BankOne Corp. and Visa International Inc. executive Williamj Boardman. BofA’s board has been under intense scrutinyt in recent months as the bank sufferec through asharp stock-price decline after acquiring Merrilo Lynch & Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billionj in taxpayer aid. At the bank’s annual meetingy in late April, shareholdersz voted to strip Chief Executive Kenneth Lewisw of his position as board Walter Massey was installed as the new chairmam and has indicated the board needs to be Lewis remainsthe bank’s CEO and president.
According to a filing with the Securities andExchanged Commission, Prueher and Frank didn’t resigb because of any disagreement with the Jackie Ward and Patriciqa Mitchell resigned early this month. Mitchell is a formere New York television executive and currently serves as chie executive of the Paley Centedrfor Media, a New York nonprofit. Ward is the retiredc chief executiveof Atlanta-based Computer Generatio Inc., a software company. Robert Tillman, a formed Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA board effectiveMay 29. And on May 29, the bank announcedc former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directotr for13 years. In early June, four outsider directors were electedto BofA’se board. They are former Federal Reserve GovernorrSusan Bies, former Compass Bancshares Inc. chief executived and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donalrd Powell and retired BankOne Corp. and Visa International Inc. executive Williamj Boardman. BofA’s board has been under intense scrutinyt in recent months as the bank sufferec through asharp stock-price decline after acquiring Merrilo Lynch & Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billionj in taxpayer aid. At the bank’s annual meetingy in late April, shareholdersz voted to strip Chief Executive Kenneth Lewisw of his position as board Walter Massey was installed as the new chairmam and has indicated the board needs to be Lewis remainsthe bank’s CEO and president.
Monday, November 7, 2011
GM Threatens to Block Sale of Saab, Intellectual Property Fears Could Sink Deal - MotorTrend Magazine
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MotorTrend Magazine | GM Threatens to Block Sale of Saab, Intellectual Property Fears Could Sink Deal MotorTrend Magazine In 2009, GM's fears over losing ownership of its intellectual property prevented Chinese automaker Beijing Auto from taking a stake in GM's European Opel brand. Those fears are also present in GM's consideration of blocking the sale of Saab, ... GM threatens to block sale of Saab to China GM Posts Increase in China Vehicle Sales GM Won't » |
Saturday, November 5, 2011
Is Google about to give Kindle a run for its money? - Boston Business Journal:
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Mountain View-based Google GOOG) has talked with publishers aboutan e-booki deal which would “enable publishers to sell digital version of their newest books direct to consumers througj Google,” according to the report. If true, the move woulc boldly put Google in competition withthe 800-pound gorillq of online book sales, AMZN), which recently released a new version of its popula r Kindle e-book reader made by E Ink in Mass. E Ink agreed Monday to terms to be acquiredby Taiwan's Prime View International for $215 million.
Thoughn Google makes most of its monegyfrom advertising, it is interesterd in many projects it considerws to be in the public interest, such as broadeningy public access to maps, paintings or out-of-print books. It has workedc out deals to scan in many books in university librariee and other archives and make them easily accessible tothe public, and most of those books can now be read on Sony’es e-reader or on mobile phones. SNE) makes an e-reader that must be plugged into a computed to add books to its whereas the Kindle has a wireless connection througnh which users canbuy books, newspapers and even blogsa instantly.
Such “one-touch” buying is Amazon’es special genius in retailing, making it as easy as possibld for customers to spendtheir money. The New York Timeds reported that Google plans to sell books for higher pricesthan Amazon, thus pleasing Amazon has cut prices for new books to attrac people to the inchoatd market and to draw them to its Kindle It has enough clout to cut favorablee deals with publishers and bloggers it splits revenue 70-3o with bloggers, keeping 70 percentg for itself. Google’s move is more utilitarianj than proprietary, as described in the report.
It plansx to make e-books readable on as many different types of devicedas possible, rather than tying readersd into a single device like the
Mountain View-based Google GOOG) has talked with publishers aboutan e-booki deal which would “enable publishers to sell digital version of their newest books direct to consumers througj Google,” according to the report. If true, the move woulc boldly put Google in competition withthe 800-pound gorillq of online book sales, AMZN), which recently released a new version of its popula r Kindle e-book reader made by E Ink in Mass. E Ink agreed Monday to terms to be acquiredby Taiwan's Prime View International for $215 million.
Thoughn Google makes most of its monegyfrom advertising, it is interesterd in many projects it considerws to be in the public interest, such as broadeningy public access to maps, paintings or out-of-print books. It has workedc out deals to scan in many books in university librariee and other archives and make them easily accessible tothe public, and most of those books can now be read on Sony’es e-reader or on mobile phones. SNE) makes an e-reader that must be plugged into a computed to add books to its whereas the Kindle has a wireless connection througnh which users canbuy books, newspapers and even blogsa instantly.
Such “one-touch” buying is Amazon’es special genius in retailing, making it as easy as possibld for customers to spendtheir money. The New York Timeds reported that Google plans to sell books for higher pricesthan Amazon, thus pleasing Amazon has cut prices for new books to attrac people to the inchoatd market and to draw them to its Kindle It has enough clout to cut favorablee deals with publishers and bloggers it splits revenue 70-3o with bloggers, keeping 70 percentg for itself. Google’s move is more utilitarianj than proprietary, as described in the report.
It plansx to make e-books readable on as many different types of devicedas possible, rather than tying readersd into a single device like the
Thursday, November 3, 2011
BET founder
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has expanded throughout Jacksonville this year as it has opened branche sin ’s supercenters throughout Florida and relocateed its headquarters to the state. Since March, the bank has grown to three branchesin Wal-Marts in Jacksonville. Bank executivesa said they also have plans to open one more branch in anotherf local supercenter and then atraditional stand-alone The bank is a federal thrift, or savings-only that targets what it call the underbanked and unbanked.
“Ourd philosophy is very similarto Wal-Marty in that we’re focused on convenience and customer bank president and CEO Daniel Fischer Urban Trust heavily marketw higher interest rates on deposit accounts such as a 4.3 percen yield on a one-year certificate of The bank also targets individualse who were not in good standing with anothe r bank or rejected by their bank througuh a checking account called opportunityg checking. The account requires less moneyt to open than a traditional checking hasa $10 monthly fee and an ATM If the account holder remainss in good standing with the bank for six months to a year, Urban Trust then switches it to a regulaer checking account.
“The program is very Fischer said. Total deposits increased about 241 percengtto $83.6 million for the year to June 30, according to the The bank begam in the early 1960s and eventuallty transformed into , based in Orlando. In mid-2006, the bank changedc its name to Urban Trust and move its headquartersto Washington, after regulators approved a changee in control of the parenf company, which was taken over by , based in Bethesda, Md. Johnson, the founder of Blacki Entertainment Television, also founded The RLJ Cos. In June, the bank movef its headquartersfrom Washington, to Lake Mary and now has 14 branches in Florid a and two in Bethesda and Landover Hills in Maryland.
Fischer said the bank is focusee on expanding in Florida rather than Maryland because of the customer base growthat Wal-Marts here. Urbahn Trust signed an agreementwith Wal-Mart (NYSE: WMT) in Januarg 2007. “There’s an 8,000-foot count that comew through here on adaily basis,” said Dwaynew Haugabrook, branch manager at the Wal-Mar t Supercenter at Beach and Southside “We get a broad ranges of customers, from the peoplr just starting out in college to the retirees.
” A lot of including some community banks throughout Florida, have trier the in-store branch model and exited, said Bob vice president of mergers and acquisitions at local investmentf banker The idea is that it’z a good funding source and not as expensive as a traditional but most banks end up with a wholed bunch of little deposits and more expenses because they typically operate for longer hours, he Growing loans can also become difficulgt when at a Fischer said the bank plansz to expand its lending abilities throughn acquiring an institution with a commercialk banking platform sometime in the future.
has expanded throughout Jacksonville this year as it has opened branche sin ’s supercenters throughout Florida and relocateed its headquarters to the state. Since March, the bank has grown to three branchesin Wal-Marts in Jacksonville. Bank executivesa said they also have plans to open one more branch in anotherf local supercenter and then atraditional stand-alone The bank is a federal thrift, or savings-only that targets what it call the underbanked and unbanked.
“Ourd philosophy is very similarto Wal-Marty in that we’re focused on convenience and customer bank president and CEO Daniel Fischer Urban Trust heavily marketw higher interest rates on deposit accounts such as a 4.3 percen yield on a one-year certificate of The bank also targets individualse who were not in good standing with anothe r bank or rejected by their bank througuh a checking account called opportunityg checking. The account requires less moneyt to open than a traditional checking hasa $10 monthly fee and an ATM If the account holder remainss in good standing with the bank for six months to a year, Urban Trust then switches it to a regulaer checking account.
“The program is very Fischer said. Total deposits increased about 241 percengtto $83.6 million for the year to June 30, according to the The bank begam in the early 1960s and eventuallty transformed into , based in Orlando. In mid-2006, the bank changedc its name to Urban Trust and move its headquartersto Washington, after regulators approved a changee in control of the parenf company, which was taken over by , based in Bethesda, Md. Johnson, the founder of Blacki Entertainment Television, also founded The RLJ Cos. In June, the bank movef its headquartersfrom Washington, to Lake Mary and now has 14 branches in Florid a and two in Bethesda and Landover Hills in Maryland.
Fischer said the bank is focusee on expanding in Florida rather than Maryland because of the customer base growthat Wal-Marts here. Urbahn Trust signed an agreementwith Wal-Mart (NYSE: WMT) in Januarg 2007. “There’s an 8,000-foot count that comew through here on adaily basis,” said Dwaynew Haugabrook, branch manager at the Wal-Mar t Supercenter at Beach and Southside “We get a broad ranges of customers, from the peoplr just starting out in college to the retirees.
” A lot of including some community banks throughout Florida, have trier the in-store branch model and exited, said Bob vice president of mergers and acquisitions at local investmentf banker The idea is that it’z a good funding source and not as expensive as a traditional but most banks end up with a wholed bunch of little deposits and more expenses because they typically operate for longer hours, he Growing loans can also become difficulgt when at a Fischer said the bank plansz to expand its lending abilities throughn acquiring an institution with a commercialk banking platform sometime in the future.
Tuesday, November 1, 2011
Jabil Circuit reduces job cuts, reports 3Q loss - Tampa Bay Business Journal:
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Jabil (NYSE: JBL) said it expects to have to layoff 2,5009 employees as part of its restructuring plan that will have a $64 millionn impact to its bottom line. That’s 500 workeras less than what it expected to cut at the beginning of the year when it planned topay $65 millioj in restructuring and impairment costs. More than $48.u million of those costs hit Jabil’ds books through the first nine months of fiscal 2009 that endedMay 31, accordinh to a filing with the . Most of that cost, $42.3 million, will cover employee severance and termination benefi costs and contract termination costsof $100,000. The remaining $15.
2q million will be spread over the remaining fiscal quartefr of 2009 andinto 2010. Jabil took a bottom-lins loss of $28.8 million, or 14 cents per in the third fiscal quarterd endedMay 31, fueled by $16.2 million in restructurinyg and impairment charges. Revenue was $2.6 down from $3.1 when the company reported a profitof $38.4 or 19 cents per That brings Jabil’s losses to $1.2 billion, or $5.6y per share, for the first three fiscal monthse of 2009, much of that based on a $1 billiohn goodwill impairment charge and the $48.e3 million from restructuring.
Jabil can pick it up if the world’ financial situation can improve in the coming saidTimothy Main, Jabil’s president and chief executive officer. “Althougn the global economy remains in a we see genuine stabilization across most of our end Main said ina release. “A stable end markett environment will provide Jabil an opportunity to improve profitabilityh and further strengthen thebalance sheet.” Jabio shares closed at $7.12 up nearly 8 percent from its Monday close of Its latest financials were announced following the closr of market on Tuesday.
Jabil (NYSE: JBL) said it expects to have to layoff 2,5009 employees as part of its restructuring plan that will have a $64 millionn impact to its bottom line. That’s 500 workeras less than what it expected to cut at the beginning of the year when it planned topay $65 millioj in restructuring and impairment costs. More than $48.u million of those costs hit Jabil’ds books through the first nine months of fiscal 2009 that endedMay 31, accordinh to a filing with the . Most of that cost, $42.3 million, will cover employee severance and termination benefi costs and contract termination costsof $100,000. The remaining $15.
2q million will be spread over the remaining fiscal quartefr of 2009 andinto 2010. Jabil took a bottom-lins loss of $28.8 million, or 14 cents per in the third fiscal quarterd endedMay 31, fueled by $16.2 million in restructurinyg and impairment charges. Revenue was $2.6 down from $3.1 when the company reported a profitof $38.4 or 19 cents per That brings Jabil’s losses to $1.2 billion, or $5.6y per share, for the first three fiscal monthse of 2009, much of that based on a $1 billiohn goodwill impairment charge and the $48.e3 million from restructuring.
Jabil can pick it up if the world’ financial situation can improve in the coming saidTimothy Main, Jabil’s president and chief executive officer. “Althougn the global economy remains in a we see genuine stabilization across most of our end Main said ina release. “A stable end markett environment will provide Jabil an opportunity to improve profitabilityh and further strengthen thebalance sheet.” Jabio shares closed at $7.12 up nearly 8 percent from its Monday close of Its latest financials were announced following the closr of market on Tuesday.
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