Mid-Peninsula Housing Coalition builds up rapidly - San Francisco Business Times:

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The state’s had indefinitelt deferred allbond expenditures, meaning that his nonprofit’sx 68-unit affordable housing project in San Matep was facing a $4 million fundingf gap. If the project didn’t stary by March 9, it wouldd have lost its deal with , its lead But just as time wasrunning out, Mid-Peninsula struck a deal for $3.5 millionn in bridge financing with city of San San Mateo County and the of San Mateo “They stepped forward and closexd the gap,” said Franklin of the March 2009 agreement.
The crisis showed both how touggh times are for nonprofit developersx as well as demonstrating the strength ofFosterr City-based Mid-Peninsula Housing Over three decades, Mid-Peninsula foundingf director Fran Wagstaff, who retired in 2008 and passed the reinxs to Franklin, quietly built the organization into one of the nation’ds top 10 affordable housing constructing 6,000 units of affordable housinvg in some of the country’w most expensive suburbs and building stronfg relationships with government partners like San Mateoo County.
The nonprofit, which has an operatinvg budgetof $14 million and $60 million in revenue, now owns and managees 5,400 units in nine Californiaa counties and has 280 employees. Franklin, formerlyg head of housing for both San Francisc and the stateof California, said the developer has no pland to slow down. Mid-Peninsula has won approvals for five new housingt developments this year and is positioning itselrf to take advantage of cheap land to tie up propertiea in its core markets ofSan Mateo, Santa Santa Cruz and Alameda counties. “Our pipeline is still movinfg very aggressively,” said “We entitled 400 units this winter.
” In additio n to the Peninsula Station which is nowunder construction, Mid-Peninsula is putting togethedr funding for 160 units at the Unio n City BART station, 106 units of family housinyg in South San Francisco, 124 units of senioe housing in Sunnyvale, 64 units in Fremont, as well as workingy on projects in Castroville and Franklin said it’s a challenging time to be an affordablde housing developer. The industry has been hit by the collapses ofthe low-income housing tax credift market, in which financial corporations can earn reductions on their federalp income tax by providint financing for affordable housing.
But with majoe financial institutions like and no longer in the the amount being invested througu the program was down 50 percent in 2008 and may drop anothet 25 percentin 2009, Franklij said. “We are traditionally insulater fromthese downturns, but not this time,” said “It has impacted the industry very significantly.” At the same Mid-Peninsula has a strong enoug balance sheet that it can still sell tax credits, Franklin said. “We are top of class in the industruy as far as cash andcash flow,” said “That has always been important to but it’s even more important in the currengt environment.
” Terra Search Managing Partner Sallhy Carlson, a headhunter who specializes in affordable housing and worked on the Mid-Peninsula CEO said the company has “always been savvy in relationshilp building.” “(Wagstaff) was brilliant at findingt new deals, financing new deals, assessing risk and mitigatinb risk,” said Carlson. “When she handed the baton off to Matt Franklin she left a financially solidorganization behind.
” Don executive director of the San Francisco-based , calledf Mid-Peninsula ”very, very productive affordable housing He said he expects it to keep chugging “Matt Franklin is a worthy successor of Fran Wagstafv and she was really remarkable,” said Falk.

Reds' Bailey no-hits Pirates 1-0 - Palladium-Item

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Reds' Bailey no-hits Pirates 1-0 Palladium-Item PITTSBURGH (AP) â€" Homer Bailey of the Cincinnati Reds threw the season's seventh no-hitter, beating the Pittsburgh Pirates 1-0 on Friday night. The seven no-hitters match the modern record for most in a season, tying 1990 and 1991. There were eight ... and more »

Consumer confidence up dramatically - Wichita Business Journal:

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in April. The indexd is based on a representative sampleof 5,0000 U.S. households. “Looking ahead, consumers are considerably less pessimistic than they were earlierdthis year, and expectations are that businesws conditions, the labor market and incomes will improve in the coming said Lynn Franco, directoer of the . “Whilre confidence is still weak by historical as far as consumers are the worst is nowbehind us." appraisal of the job marker was also more favorable. Those claiming jobs are "har to get" decreased to 44.7 percentt from 46.6 percent in April. Thosed saying jobs are "plentiful" edgeds up to 5.7 percent from 4.9 percent.
The employment outlook was also less with the percentage of consumers expectingg more jobs in the months ahead increasinbg to 20 percentfrom 14.2 percent, whil e those anticipating fewer jobs decreased to 25.2 percent from 32.5

Eddie Bauer buyer says it will turn retailer around - Baltimore Business Journal:

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Jonathan Lynch, a managing directof of CCMP CapitalAdvisors LLC, said withou the burden of debt, couldc quickly become a profitable company. “In this case, we are talking about a good companhy with a badbalance sheet, and we are goinhg to turn it into a great company with a great balancer sheet,” Lynch said. Lynch said Eddie Bauer CEO Neil Fiske and his team havemade “impressive strides in a very difficultr economic climate.” Looking at key retail particularly comparable-store sales, Eddie Bauer has outperformee its competitors, Lynch said.
Lynch said CCMP Capital woulc keepthe company’s headquarters in Bellevue becausw he said there is no compelling strategic reason to move it. He said that CCMP Capita typically holds on to companiez for five to10 years. And Lyncb said his firm also would keep most ofEddie Bauer’zs 371 retail stores open, although he said that some storeds that can’t remain profitable would be closed. Lynchy said he did not know how many storess thatmight be. Eddie Bauer f The retailer struck a deal with CCMP for $202 million. CCMP’s offer is essentially an openinv bid forEddie Bauer’s assets. The sale must be approveds by abankruptcy judge, who will oversewe an auction.
CCMP likely would emerge as Eddied Bauer’s owner, unless there is an offer thatbeatz CCMP’s price and terms. Eddie Bauer listed total assetsof $476.1 million and total debts of $426.7 milliohn as of May 30.

Treasury lets 10 banks repay $68 billion - Kansas City Business Journal:

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Minneapolis-based (NYSE: USB), parent of , said Tuesday that the Treasuruy approved its repayment ofall $6.6 billion in Troubles Asset Relief Funds it had received. U.S. Bank ranks No. 4 on the Kansas City Business Journal ’s list of area banks, ranked by area markegt share of deposits as of June 30, with 5.02 U.S. Bank also will repurchase the 10-year warranrt that had entitled the Treasuruy to buy shares of its common The Treasury Department also approved nineother banks’ repayment of their TARP funds, according to various media reports, but the agencyt didn’t make public the list of The agency said the bank s had met the requirements for repaymen t established by federal bankintg supervisors.
It noted that many banks recentlhy have raised equity capital from private investorse and haveissued long-term debt that is not guarantee d by the government. “These repayments are an encouraginhg sign offinancial repair, but we still have work to Treasury Secretary Tim Geithner said. More than 600 bankx received a total ofnearly $200 billion through the department’ s Capital Purchase Program. About $2 billionj of this money was paidback previously. Througjh the program, banks that repay theirr preferred stock can repurchase the warrants that the TreasurytDepartment holds. Besides the proceeds from the salese ofthe warrants, the department also has received $4.
5 billiojn in dividend payments from program Proceeds from the repayments go to the Treasuruy Department’s general fund. They can be used to reduc e the national debt and can servse as a cushion in case the department needs to respondf to financial emergencies in the thedepartment said.

Report: Yemeni women worse off after revolution - Houston Chronicle

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Report: Yemeni women worse off after revolution Houston Chronicle SANAA, Yemen (AP) â€" Women in Yemen are worse off now than a year ago, when they played a significant part in the country's revolution that promised political and economic change, an international aid agency has concluded. In a report released Monday, ... and more »

Yolo County names new agricultural commissioner - Pacific Business News (Honolulu):

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Landon expressed confidence in his successor in anews “I have really enjoyed working with the ag the Board of Supervisors, staff and the residents of Yolo County,” Landonb said. “Yolo County is truly uniquew in its desire to preserve its agriculturakl heritage and it has been very rewardinf to be a part ofthat commitment. I feel confidentr passing the baton to John Young and know he will carryt onYolo County’s rich agricultural tradition,” he said.
Younh has worked for the count y for the past 18 years and is a graduatde of California State University Sacramento witha bachelor’a degree in business “Yolo County is truly a great place to work and live,” Youngb said in a news release. “Even in these difficult economic times Yolo County agriculturew is a bright spot and I am enthusiastix about my opportunity to serve the constituents of Yolo County in this new The future will bring us many challengexs but by working collectively we will be able to secure a vibrangt localagricultural economy,” he said. He will assume his new role upon Landon’sz retirement. A date for the transition has not yetbeen set.

Idaho Digital Learning Academy hires Starfish Retention Solutions - Wichita Business Journal:

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IDLA, a 7-year-old state virtual school formed byIdah legislature, offers online classes to students in the Starfish, an Arlington-based maker of student-retentioh software, will help pinpoint at-risjk students in real time, based on their dail y course work performance and then connect them to helpfu l resources. “One of the best ways to gauge student engagement is to keep track of how often they log in to thei ronline courses. Unfortunately, this is also one of the greatest saidRyan Gravette, technology director for IDLA.
“With Starfish, we will know this in real and be able to reengaged students and get them back in the Starfish will track when a student has not logged in to the cours management system for more than a week and then let an appropriatwparty know. That same party will also be alertede when a student gets two consecutivd progress reports with a scored of less than 70 David Yaskin, founder and CEO of is a alum. He was the former vice president of product strategy and leftthe D.C. company in October 2007 to start Starfish.

Winds continue to fuel Cudahy fire - Business First of Buffalo:

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Cudahy Mayor Ryan McCue also urged all businesses in the city to reducde water usage and called on residents of the neighboring communitytof St. Francis to conserve water. “We are runningv short on water,” McCue said. More than 8.5 million gallonsw of water had been used by in an attempty to douse a fire in one of the buildings that make up the Patricko Cudahy meat processing complex at OneSweeg Apple-Wood Lane, just off of Layton Avenue, Mayor Ryan McCue said at a 3:30 p.m. pressd conference at Parkview Elementary 5555 S. Nicholson Ave., within site of the huge plumexs of smoke billowing fromthe plant.
The city of Milwaukese also has allowed Cudahy to tap into its water supply to aid in fightiny thestubborn blaze, McCuse said. The fire fighting effort has been expanded to include 130 firefighterws from27 departments, he said. “The fire continuesd to flare up,” McCue said. “The wind has not been our Also, 75 law enforcementg officers are on patrol inthe city. McCues declared a state of emergency earlier in the day and indicated at that time that the Nationap Guard could be called in to patrolcity streets.
Cudahy Police Chief Thomas Poellot saidthe city, alongf with assistance from othed communities and the state, has “adequate” resourcesz to keep the city safe as firefightera continue to battle the “We don’t anticipate needing the National Guard,” he

Track developer inks deal with Spencer, adds to mix - The Business Journal of the Greater Triad Area:

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David Risdon would like to seediscountr shopping, other retail, office spacew and perhaps some residential uses across from his High Rock Raceway. “The conceptt would be like a Birkdale Village but withpremiun outlets,” he says, referring to the mixed-usre center in Huntersville. The timeline would be dictatedd by a recovery from the he says. Risdon, chief executive of , the limited liabilityg company developing High Rock would devote 40 acreson U.S. Highwaty 29 to the new project. He would seek a retaiol developer to build theoutlet center.
The plan callsd for as much as 300,000 square feet of retail space andabout 200,000 square feet of A museum and hotel are also plannedd on the site. Combined with the $30 million, 2.15-milw road-course racetrack and 114 adjacen townhouses, the total price tag for High Rock willbe $205 The track is being built on 200 acres once occupiee by N.C. Finishing Co., or Color-Tex a former Fieldcrest Cannon plant that wasonce Rowan’s largest employer. The facility closed in eliminating its last 350 The credit crisis and recession have delayed the project since it was announcefin 2005. of Sacramento, pulled its offer of a $30 million construction loan earlierthis year.
Now Risdonj has the interest of a consortiu of insurance and pension companies in financing the trackm and townhouse phase of the He declines to identify the This month, the Spencer Board of Aldermej approved a 28-page development agreemenf that was required by Risdon’s investors. The agreement requires the track and an initial phase of townhousesz be complete by a year afted sitework begins. Risdon expects gradinfg to startnext month. He has 20 yearxs to complete theentire project, accordinvg to the development agreement.
Clayton which operates three plants within 30 minutez ofHigh Rock, will build the The structures will be fabricated at the plant and erectedf at the development site. Spencer Town Manager Larry Smithu says the potential tax revenue and prestige of the projecyt make it worththe “We’re behind the project as much as we can

Four industries hold key to higher-paying jobs - Pacific Business News (Honolulu):

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The film and digital media, life sciences, dual-use and diversified-agriculture industries have the potential to push Hawai i to neweconomic heights, accordingb to Mike Fitzgerald, presidenty and CEO of , a private economic developmeny organization. "We're trying to particularluy developthese [industries] because they create good-payinh jobs in the $50,009 range and they create new wealth," he said. "Wd believe each of these categories hasa billion-dollar potentiakl over this decade.
" Business executive s in each of those four industriez say that while more investment and skiller employees are necessary for any businesss to expand, their economic sector s have unique barriers standing in the way of theidr growth and the high-paying jobs they produce. Hawaii's film industry has been held back by state government's continuing insistence in connecting it with tourism, according to Chrisa Lee, chairman of the at the . State tax incentivee for the film industry have been tied to whetherf or not a film or television production makesd it clear that it isin Hawaii, a policy hurtintg the islands, he said.
For example, Fox's televisionj show "North Shore" received more state tax creditz because it promoted the Hawaii brandwhile ABC's upcominb show "Lost" had fewer tax credits because it simplty was filmed in the islands and does not outwardly promote the state. "Either we believe this is a good industry and we want it to expand as much as possiblde or we see it as an extensiomn of thetourism industry," he said. Film and televisio n productions increasingly have been filmingin Canada, and it'sa not because of the landscape, Lee said.
It' s because Canada makes it easy and cheapp tooperate there, which includes not requiring each production to say it is filminfg there. Lee points to digitall media projects, such as video games and digital as possible growth areasfor Hawaii's film industry, but says they need qualifiecd workers. "It's about work-force development," he said. Hawaii also lacks the infrastructure to supportg a largefilm industry, according to State Film Commissioner Donnew Dawson. "In order for us to grow and sustain thisindustrh we've got to have the right combinatio n of infrastructure in place and a developed work she said.
Although the state can offef the Hawaii Film Studipo near Diamond Head to productions at alow it's first-come first-served and any overflow must find alternate something both NBC and ABC were force to do for their shows "Hawaii" and respectively. Hawaii's life sciences industry facesx a lack of adequatelab space, according to David Watumull, CEO of Hawaio Biotech, and the only solution is more Watumull says the most promising avenure of capital is the recent establishment of the statde private investment fund, passed during the most recent legislative The fund allows the Hawaii Strategic Development Corp.
to collateralizde tax credits for venture capital funds interested in investinvin Hawaii, he said. "To me, that's the single most importan t factor," he said. "Wd need the companies first, and if we have the the work force will Anton Krucky, CEO of Tissue Genesis, believes that the life sciencre industry in Hawaii needes a success story. "One of thesre Hawaii companies has tomake it," he "Once you do there's a whole 'nother tier that follows.
" The dual-use industry also neede power players to help it expand, said Raj founder of Los Angeles-based Advanced Photonics Integrated Circuits, whichn will soon begin producing computer chipw at a plant in Kakaako. Dual-use industries includw technology developed for the militart that hascommercial applications.

Williamsville pushes streak to 6 years - Dayton Business Journal:

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Williamsville is No. 1 in Business Firsty ’s 18th annual rankings of WesternNew York’se public school systems. It has monopolized firsg place since2004 -- a six-year for the complete school district And for separate rankings for each section of Western New “We’re fortunate in so many says Howard Smith, Williamsville’s superintendent of “When you have a very committed board of education, an outstandinb staff of teachers and a pro-education community and hard-working students, that’ds quite the formula for success.
” Williamsviller took first place when the rankingz debuted in 1992, and won agaih in 1997, 2001 and throughout its 2004-2009 run. It hasn’g finished lower than thired placesince 1995, and has never been lower than Business First analyzed 97 schook districts in the eight Westerjn New York counties, basesd on four years of test data compiled by the New York Statw Education Department. Each district’s rating reflects the collective performance of its public middle andhigh • Its 2005-2008 subject scores for science and social studies were the best in Western New according to Business First’s analysis of test resultsx from fourth grade through the seniore year of high school.
• Sixty-fiv percent of Williamsville’s seniors earned Regents diplomas with advancedc designationsin 2008. That’x 22 points above the regional average of43 (A student must pass eight Regents examz to receive an advanced • It’s the only district where more than 57 percentr of last year’s graduatesx achieved superior scores (85 or better) on Regents exams in math, science, global history and U.S. • Williamsville’s eighth graders postexd the region’s top scores on statewide testesin English, math, science and social studies.
“Th e other part of what we do -- all our extracurricular activities such as athletics andclubs -- don’t show up in the but they have a really positiv impact on student achievement, too,” says Smith. “Fot example, we have as many music teacherw asmath teachers. That makes for well-rounded, committed students, and those are usually successful students.” Williamsville’x overall score was pegged at 100 with the marks for all other districts beintg calculated fromthat benchmark. Nineteen ended up with scored of 90or better, qualifying for Business First’sx of outstanding school systems.
Four districts have made the Honor Roll every yearsince 1992: Clarence (which ranks second this year), Amhers (third) and Orchard Park (fifth). Rounding out this year’e top five is No. 4 East which has made 17 Honor Roll appearancez in18 years. All but two of this year’sa Honor Roll districts also qualified ayear ago. The newcomers are joining the elite group for the first time since andWest Seneca, returning after a 13-yeaf absence. The latter upswing was nearlt a decade inthe making, according to Jean Kovach, superintendent of the West Senecwa Central School District.
Developing consistenrt instructional techniques and identifying the best textbook stook time, she but the effort is paying off. “Ourt goal is not to teach to the test, but to teachj to the state’s standards,” Kovach says. “We’ve spenf the last eight years workingy diligently to align ourcurriculum -- to make sure that we don’tg repeat ourselves in different yearas and that each grade level builds on the one Fourteen of this year’s Honor Roll districts are in Erie They range in size from Williamsville, with 10,64o9 students, down to Eden, which has The outlying honorees are considerablyt smaller, with an average enrollment of The very smallest is also the top-rated districy outside of Erie County, No.
6 which has 670 studentds from kindergarten through12th grade. “We’re a very rural district in the Southern but our kids are going into the same marketplace aseveryone else,” says Richard Nicol, Alfred-Almond’s “They’re going to be in competition for jobs with kids from place s like Williamsville and Clarence. So they need the very best educatiojn we cangive them.” Sixteenb districts are recipients of this year’ws subject awards, signifying that they rank among the 10 leaderss in English/foreign languages, math, science and socialo studies.
Bemus Point, Clarence, East Aurora, Orchard Park and Williamsvillr have made clean sweeps by winning all four for complete lists of subjectaward winners. Business First has also generaterd a series of specialized ratings to furtherr illuminateeach district’s performance. Amonyg them: Lancaster ranks first for cost-effectiveness, basede on a comparison of expenditures and classroom And tinySherman 478) is the biggest overachiever, determinedf by matching academic outcomes againsrt socioeconomic conditions. “We may not be rich, but we have strong familt values,” says Thomas Schmidt, Sherman’a superintendent.
“Our parents really care about theird children’s education. There’s something to be said for having everyone ina K-12 building, with the strongb sense of community that it brings.”

Could Virgil Goode Win Virginia for Barack Obama? - ABC News

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Could Virgil Goode Win Virginia for Barack Obama? ABC News If Mitt Romney loses Virginia, Virgil Goode says it won't be his fault -- and, should the unlikely presidential bid by the state's former congressman siphon enough votes to hand the commonwealth to President Obama, Goode doesn't seem too worried about ... Presidential Candidate Virgil Goode Speaks at Lynchburg School WSET Presidential Race May Hinge on Third Party Candidates Bloomberg isidewith.com offers political insight â€" into you HollandSentinel.com MLive.com  »

Confidential - Dallas Business Journal:

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• Teams from local corporationd recently did battle in perhaps the nerdiesfbenefit ever. Yep, it was the third-annual Adult Spelling Bee for Literacyy Instruction forTexas , held May 14 at Firsft Presbyterian Church in Dallas. Teams from , Gardere Wynne Sewelpl LLP , , , the Dallas Chambed of Commerce and the DBJ riske flashbacks to the fourth gradw and took their seatson stage. Hilarity Particularly when emcee KLUV-FM personality Mitcy Carr gavethe round-one word to the Chamber team hotel. The Dallas Chamber was a vocal supporter of the controversiap conventioncenter hotel. “I so wanted to use that in a Carr said after Jon Gilloon spellerit correctly.
The Chamber team went on to win the troph ywith psoriasis, which was a much easierd word than forsythia. I blame missing that one on Mr. Carr. Leslie Clay with LIFT said the bee raised about $1,600 for adult literacy programs. LIFT helped 8,500 adults to lear n to read for free last yearin Dallas, Tarrant and Colli counties. • Fort Worth’s Tim Love , chef and owner of the and The LoveShacok , will compete on “Topp Chef Masters,” a spin-off series of the Emmy Award-winning “Top Chef” cable television show. The reality competition, which premieres June 10 on Bravo, will pit 24 world-renownecd chefs against each other.
The winnerzs get money for Guest judges will includd Neil PatrickHarris , Zooey Deschaneol and Jeff Lewis , as well as past “Topo Chef” winners. Love will be the only Texaxs chef onthe show. Let’s hope he won’t have to pack his kniveas and go. • The is holdiny its 22nd-annual Charity Golf Classic June 5 to benefitfDallas Children’s Charities . The outinyg will be held at in The $200 entry fee includesx lunch, fees, gifts, food, cart, libationws and “surprises all over the course.” And the society will continuse the “best-dressed hole” contes with decorations and antics at each hole.
“Al players will vote on which group put togethedr the mostentertaining hole,” said John Kranzs , tournament chairman. There are several things in this item in combination, make me nervous. Regardless, for more go to www.dallaschildrens­charities.org.

M&T completes Provident Bank acquisition - Washington Business Journal:

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Buffalo, N.Y.-based M&T agreed to acquire Baltimore-basedf Provident (Nasdaq: PBKS) in Provident’s 55 Washington-area branches are being convertefinto M&T locations, nearly doublinbg M&T’s local branch count to 102. The combinerd bank has nearly twice that number of branches in theBaltimore “The union of Provident Bank and M&T Bank creates a stron g organization with talented employees that will benefit our combinee customer base,” said Woody president of M&T Bank’s Mid-Atlanticc division in a statement.
“W e are looking forward to serving ournew customers, who will find the same friendlty and experienced associates serving them now at M&TT Bank. Our new customers will have access to the largest branch and ATM networkm inthe Baltimore-Washington corridor and to a wider arrah of products and services.” The combinede company has $71.4 billion in assets. All accountw and balances have been transferred from Provident Bankto M&T and new checks and ATM cardw have been sent to former Providen Bank customers, the company said. In rates and terms have not been change on certificatesof deposit, installmeng loans, lines of credit or overdraft protectionj accounts.
Gary Geisel, chairman and CEO of Provident, has been made a directod of M&T.

New Anthropology Databases Now Available via EBSCOhost - InfoToday.com

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New Anthropology Databases Now Available via EBSCOhost InfoToday.com EBSCO Publishing (EBSCO) has added three new anthropology databases to the EBSCOhost platform. Anthropological Index, Anthropological Literature, and Anthropology Plus, cover the fields of anthropology, archaeology, and related interdisciplinary ...

Chase bank hiring 200 in Milwaukee - Minneapolis / St. Paul Business Journal:

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New employees are working at theChase Tower, 111 E. Wisconsibn Ave., and are focused mainlyh on negotiating new payment arrangements with homeowner s delinquent ontheir payments, said spokeswoman Christine Chase is one of the nation’s larges mortgage servicers with a portfolio of $1.5 trillion. The bank addeed billions in mortgage business with the Septembetr 2008 acquisition ofWashington Mutual. The new hiresa include loan specialists, negotiators, underwriter and supervisors, Holevas Many already have started training. Chase has about 1,40 0 employees in greater Milwaukee, and nearlt 950 in Milwaukee, Holevads said.
Chase, which is part of , New York City, runs 41 branchees in the metropolitan area. In December 2008, Chasde cited declining activityin home-equitty lending when it announced job elimination s by early February in its downtown Milwaukee home equitt servicing center. Some employees who were laid off earlie this year are likely among thosd being hired for the mortgageservicing functions, Holevaxs said. “We had terrific people and we want to get the best ofthoses back,” she said. Chase bank officials like the quality of employeesw in Milwaukee and theirwork ethic, Holevas She could not predict the longevithy of the new jobs.
“As the business changes so do ouremploymenrt needs,” Holevas said. “We staff according to customers’ needs.” As the number of foreclosures continues torise nationally, Chase is far from the only bank to boost its staff for handling troubler mortgages. Some banks, including M&I Marshall & Ilsley in have instituted foreclosure moratoriums as they attempt to modify mortgages toreducd payments. M&I’s foreclosure moratorium is schedulede to expire onJune 30.
In the past six M&I has increased by 50 percent its staff dedicatesd to assisting the increasing number of homeowners facing financial stress, said Dick president of the bank’s Wisconsin community bank unit. He declinefd to disclose the number of jobsthat M&u has added. M&I works with homeowners before they reacnh delinquency to avoid foreclosure and also seeks solutionws for homeowners alreadyin foreclosure, Becker Minneapolis-based , which has the second-largest deposit market share in metropolitann Milwaukee and services more than 1 million mortgages nationally, announced in March that it is constructingf a building in Owensboro, Ky., for its mortgags services unit.
The bank already employsa 850 people in Owensboro and the new buildintg will accommodate up to 300new employees. At the communityy bank level, the loan modification strategies are implementefd on asmaller scale. For example, , increased its collections staff from two to threee plusa half-time employee to tackle the increased said president and CEO Doug Gordon. Collections employeeas review the home-owner’s financial situation in an effort toavoie foreclosure, Gordon said. The employees discusxs what the homeowner can afford for payments and whetherd the mortgageis salvageable, he said.
The bank has successfully modifiec many mortgages and even stopped some foreclosuree while they werein process, he said. “We’d much rathed modify them — work with them than foreclose,” Gordon said. “Nobody wins in that. We don’tg want to own the real estate andthey don’ want to lose the real estate.”

TXCO files for Chapter 11 bankruptcy protection - San Antonio Business Journal:

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Attorneys for San Antonio-based TXCO TXCO) also filed a motionn with the Bankruptcy Court seeking approval foranticipatedf debtor-in-possession financing with prospective TXCO is currently in negotiations with Ltd. and potentiallyy others for a multiple draw-term loan facilitgy with a total aggregate principalo amountof $32 million. The debtor-in-possessiobn financing would allow TXCO to conduct businesswithout interruption. TXCO is working to minimize the impact of the bankruptcy filing on its customersand employees. However, the bankruptcy courf will have to approve anyfinancinhg arrangement. U.S. Bankruptcy Judge Ronald B.
King is handliny the case at theWestern District’sx office in San Antonio. TXCO officialsz say the bankruptcy filing was precipitaterd by a series of events that severelyh impactedthe company’s liquidity. extreme volatility in energy prices and a crumblinvg global economy have made it difficult for TXCO to raised equity capitalor debt, according to a statement releaserd by the company. Accordingv to the bankruptcy filing, TXCO has assets of $431.9 million and totap debts of $322.8 million. The company also has more than 38 millioh shares of commonstock outstanding. TXCO’s largest shareholder is , a compan based in Milwaukee. Heartland owns 9.
1 percengt of the company’s totapl stock, according to TXCO’s bankruptch petition. The company’s top five largest unsecured the bankruptcypetition shows, are Houston-based ($8 in Uvalde ($5.3 million); Dallas-based ($5.1 million); in Dallas ($4.2 million); and in Houston ($2.9 million). The companyu also has retainedAlbert S. Conly of to serve as the chiecf restructuring officer to assist TXCO in the Chaptee11 reorganization. LLC has been retained as financiaol advisers andinvestment Goldman, Sachs & Co. has been hirexd as a financial adviser in connection with any potentiao sale of assets proposed underf thisbankruptcy filing.
TXCO is represented locally by bankruptcy attorneysDeborah D. Williamson and Lindseyu D. Graham with TXCO is an independent oil and gas companh with interests in the Maverick the onshore Gulf Coast regionb and the Marfa Basin of Texas andwesterbn Oklahoma. www.txco.com

Realtors to launch foreclosure courses - New Mexico Business Weekly:

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The group gave the $3,200 to host a foreclosurre and shortsales course. And the was give $8,050 to develop a course and DVD for consumers and agentes on the legal risks associated with foreclosurezs andshort sales. also was awardecd $6,000 to host a Realtor training course on helping consumers who are behindx ontheir mortgages. The national association gave out morethan $3 milliobn to different city associations to help resolv the growing foreclosure problem.
“Realtors build communities, and as the leadinv advocate for homeownership andhousing issues, we believwe that any family that loses its home to foreclosure is one family too NAR President Charles a broker with in Dallas-Fort “Foreclosures affect each community differently, which is why NAR is providing the Foreclosurse Prevention and Response grants directly to local and state Realtor associations so that they can developo unique, coordinated action plans to prevent foreclosurews and minimize their adverse effects on the

Zicam maker pulls products, but affirms safety - Kansas City Business Journal:

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The FDA said it received more than 130 complaintsw from consumers saying they have lost their senses of smell after usingthe products. Jennifer a former school teacher who livesin Huntsville, Ala., said she lost her senser of smell after usin Zicam to prevent the duration of a cold a few yearsx ago, but had never complained to the FDA or the compangy because she figured ther e was no way to prove Zicam caused her anosmia. She said she doesn’t want to sue Scottsdale-based Matrixx (Nasdaq:MTXX) even aftetr learning others have had thesame “I don’t think Zicam was created to hurt she said.
“We sit here and we rip and we rave abouyt all these drugs not beinh allowed onthe market. The first time anythingy goes wrong, everybody wants to go sue, sue, sue. That drived me nuts. I honestly believe the people were tryingy to do something to help people notget sick.” William Hemelt, acting president and chiefd operating officer of Matrixx, said the FDA actiom was taken without reviewing research he would have been more than willinb to provide. “We think the science does not support this allegationnat all,” he said. “Quite we would not be selling the producy if we thought itwas unsafe.
” Zicam products use a homeopathiv remedy called Zincum Gluconicum 2x, which meanws they require FDA approval. Dr. Sam Benjamin, a medicalp doctor with a homeopathic license, said he can’t figure out why the FDA has take n so long to deal withthe issue. “ can think of no part of alternatives medicine that summons up more worry to conventional physiciansathan homeopathy,” said Benjamin, who has a medical talk show on KTAR 92.3 FM on Saturdayas at 2 p.m. and 1,000 followers on “There are so many drugs aroun thatcause problems, why would one eventy want to expose people to any danger.” Bretgt Berty, a senior recall strategisft at Stericycle Inc.
in Lake Forest, Ill., is coming to Phoenix this week to meet with Matrix officials to see if he can help the compan withdamage control. Usually, he said, companies will voluntarily recall a product before the FDAgets involved. That’e not how it happened with Matrixx. The FDA steppe d in and warned Matrixx that it had receivef more than 130 consumer complaints and that the compang needed to stop marketing the product untilo it can put a warninyg label on its packagingy that it couldcause anosmia. Over the past 10 Berty has worked with manufacturers to conductabouyt 1,300 recalls, including Vioxx.
hopefully, the manufacturer will work with me prior to approaching theregulatory agency,” he “The most important thing for Matrixdx is you can turn a seemingly awful situationh into an opportunity if you’re judged by the public as beinvg part of the solution. How swiftly do they execute that will demonstrate their concern forthe public’s safety.” When the FDA sent the warninfg letter to Matrixx and advised consumers not to use certaibn Zicam cold remedies, on June 16, Matrixx’sd stock plummeted 70 percent to $5.78 a share. It bounced up a bit to $6.13 a day but nowhere near its 52-weemk high of $19.
74, near its trading pointr before the FDA sent thewarninh letter. For the fiscal year ended Marcu 31, Matrixx reported $13.8 million in net income on $112 million in net sales, up from $10.3 million in net income on $101 million in net salees a year ago. Hemelt said he will be meetingt with FDA regulators to discussthe issue. He also scheduledf a conference callwith investors.

Some geography lessons for Ryan Tannehill - ESPN (blog)

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Some geography lessons for Ryan Tannehill ESPN (blog) Ryan Tannehill Brad Barr/US Presswire Ryan Tannehill points to whichever freaking way the other freaking guy is supposed to run. You decided to read this. This is about NFL football. It's on ESPN.com. So chances are you follow NFL football at least a ... and more »

Michael Irvin sued over "Fourth and Long" reality show - Pittsburgh Business Times:

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Jordan Bealmear of Thermal, Calif., and Shannonh Clark and Christopher Harding, both of Louisville, Ky., allegs Michael Irvin’s reality show “Fourth and Long” is theid idea with a new name. The plaintiffd in a lawsuit filed in Dallas Count y accuse Irvinof fraud, fraudr by nondisclosure, breach of contract and unjus t enrichment. Larry Friedman, Michael Irvin's attorney, told the Dallaws Business Journal Wednesday that the lawsuit is completelhy bogus andwithout merit. Friedman said Irvinn met with the plaintiffs, and they had no businesa cards, no company, no stationery and worked outsidde the industry withoutsubstantial contacts.
Friedmajn added that a lot of people in the entertainmenr industry were throwing the same show conceptf around and Michael had the concepgt and was looking fora producer. When asked who calleds the initial meeting betweenthe parties, Friedman said he didn'y know who invited who to the meeting. In the attorney for the plaintiffs, Mark Taylof of Dallas, told the DBJ that the issuer is not whether the idea for the show was but whether Michael agreed to enter into a deal and then renege on the terms of the The plaintiffs in the lawsuit say they developef the concept behindthe show, whicuh they were calling "Guts to and ended up in contact with Irvin and his representatives to invite Irvin to be the show's The plaintiffs offered a deal in whicjh Irvin and his agent would receive 25 percenty of the proceeds and the plaintiffs would receivse 75 percent.
They later struckk a deal in which Irvin woulde take 75 percent of the aggregates executiveproducing fee, while the plaintiffa would share the remaining 25 percent and that adaptions of the show for other sportsw would involve a 50-50 according to the lawsuit. During the negotiation process, the three say Irvijn was provided withmarketing tools, including a storyg board, to present to Dallas Cowboyz executives and Dallas Cowboys Coach Jerry Jones with the intenrt of getting the team involved. In the the plaintiffs say they were escorted out of aMarcn 10, 2008, deal signing meetiny at the Dallas law offices of Friedmam & Fiegler LLP in which Larry Friedmanh was present.
Their attorney, Larry Kopeikin, was attendint the meeting via aconference call. When they were broughg back intothe meeting, the plaintiffs were told that Irvin woulx have to review the deal memo before Days later, they learned that Irvim would only agree to a 95-5 percent splift with Irvin taking a 95 percent cut, and five days afterf that Irvin sent an e-mail to Clark stating that he had neverr used the storyboard in his presentation to according to the lawsuit.
The three individuals who planned to produce the show are suing Irvin claiminf in their suit thatIrvin “through his agents, and/or employees, made false and materiak misrepresentations to plaintiffs concerning his agreemen to the terms of the deal including the 75-25 percent