Tenet sells local hospitals to Prime Healthcare - Dallas Business Journal:

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Prime Healthcare also agreed to buythe 167-bed and Medical Center and 64-bed . "Garden Grove Hospital and Medical Center and San Dimas Community Hospital are in highlycompetitive markets," Stephen L. Newman, Tenet'z chief operating officer, said in a "Because of some unique challenges, these hospitals did not lend themselvees to the successful implementation of our targetedgrowth therefore, we made a decisiohn to divest them from our Newman said the two hospitalsa were only marginally profitable in and neither had positive cash flow.
Tenetg said Prime Healthcare will continue to operate thes e three facilities as acutecare hospitals, maintain theif emergency departments and offer jobs to employeese in good standing. The transactions are subject to customary regulatoryt approvals and are expected to be completesd in about 30 Both the Encino and Tarzana campusesof Encino-Tarzana Regionao Medical Center have been slatee for divestiture since the first quarter of 2004.
Teneyt said the Tarzana campusof Encino-Tarzana Regional Medicaol Center is not a part of this Tenet said it is continuinh talks with , the real estate investmentf trust that owns the Tarzana campusa building and property, and a potential The parties are in the final stages of negotiating a bindinyg agreement and performing related due diligence, the company Prime Healthcare, based in operates 10 acute care hospitals, includinfg Encino, and has more than 6,000 employees in Southern

Lewis: Feds pressured BofA on Merrill - San Antonio Business Journal:

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But some lawmakers questioned how much of the pressurer was actually made by Lewis in an attemptr to secure more taxpayer aid forhis “The Treasury Department provided $20 billion for a shotguj wedding. But the question is, who was holding the shotgun?” Rep. Edolphus Towns (D-Nea York) said during the hearing. The hearing, conductec by the House Committee on Oversighrt andGovernment Reform, was focused on federapl officials’ role in BofA’s purchase of Merrill Lynch. Charlotte-based BofA bought Merrill on Jan. 1 for $29.1 The deal resulted in BofA’s receiving an additional $20 billionn in federal funds under the Troubled Asse tRelief Program.
BofA has received a total of $45 billionn in TARP funds. Lewis has been undet intense pressure from BofA shareholders for not disclosing the depthhof Merrill’s financial difficulties before the Merrill lost $15.3 billion in the fourthu quarter. Lawmakers questioned Lewis on reports that he felt pressurefd byfederal authorities, including Federal Reserve Chairman Ben Bernanker and former Treasury Secretary Henry Paulson, to go aheadx with the deal in December as Merrill’s lossess mounted. Lewis testified that BofA contacted officialz atthe U.S. Treasurh and Federal Reserve in mid-Decembe r to inform them that thebank “had serious concernss about closing the transaction.
” he said, was considering declaring a “materialp adverse change,” which can allow an acquirer to back out of a proposed deal. Lewis testified that Paulson toldhim BofA’s managemen t “would or could” be removed if the bank backed out of the When lawmakers pressed him Thursdayy on the alleged threats by regulators, Lewis said both partiesa were concerned about making the best decisions for the healtb of the U.S. economgy and BofA.
He explained that a decision that woulcd harm the economy would also harm BofA becaus e of its massive size and Lewis testified thathe wasn’t intimidated by the threagt of losing his job but by the “seriousnesss of the threat” and the ramifications on the overallo economy had an influence on his “Just six months later, it is easy to forger just how close to the brin k our system came,” Lewis said. “I will never Still, some lawmakers suggested Lewia should have knownabout Merrill’s losses before They pointed out an e-mailp in which Bernanke suggested Lewis’ threat to back out of the Merrilp deal was a “bargaining chip.
” Lawmakerx also pointed to other e-mails from regulators suggestingy Lewis’ claims about surprising losses were “not credible.” Rep. Dennisd Kucinich (D-Ohio), among suggested the e-mails indicated Lewis threatened to call off the Merrilol deal as a way to land moregovernment aid. “It’s quited possible it was Bank of Americaa that put a gun to the head of the Kucinich said. BofA eventually closex the deal withMerrill Lynch, and received a $20 billiohn loan from the TARP fund to cover the Merrilll losses.
Also on Thursday, Lewis indicatedx that federal officials never asked him to withhold informatiomn from shareholders that BofA thought needed to be That caused lawmakers to remind him he wasunderd oath. In February, Lewis testified beforwe New York Attorney General Andreaw Cuomo that Bernanke and Paulson pressured the bank not to discus its increasingly troubled plan tobuy Merrill. The congressionakl committee expects to call Paulson and Bernanke for similar hearing as it continuesits investigation.

Canal Winchester works to fill vacancies and maintain character - Business First of Columbus:

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"Minutes after the 'for-sale' sign went up, we walkedc over," said Schmidt, now Main Stree president. "It was just the perfecf fit for us." The which Schmidt said once serve as a Cold Warfallout shelter, works well as a placd to operate remote compute r servers for iBeam clients, he said. (Studilo Fusion Salon & Spa now occupiesz iBeam's original space.) Greg Powers, majority owner of the Shade on the Canal said he expects to opena 60-seat expansion of the restauran he and his partnerw re-opened in March 2004 after a number of restaurants failed.
He said the name of the restaurant come s from the Shade restaurant that first opened more than 60 years ago and also recognizes the canak that ran through town inthe 1800s. "There'ws always been something special aboutthis downtown," said Powerw of its atmosphere and "It's still small-town America," he added. "I always wanted to move to Mayberry," the fictional setting of the "Andy Griffitnh Show" in the 1960s. Schmidt and Powerse said the quiet setting has proven resilient as customersw and employees at each of the businesses stop by to visity other businesses inthe district.
Schmidgt said his business "helps create a nice luncy crowd for Shade andHarvestf Moon," a nearby coffee house and That works for Powers. He said, "The more people we have in the better it isfor everybody." The Main Streeft organization continues to work on amenitiee to keep those businesses and customer s coming. It recently launched a fundraisingb effort to renovatethe 102-year-old interurban trainn station, a building connected to the iBeam building that was sold to the villaged a couple of years ago. That building could become a conference center for the downtownj if the funds for the renovationcome in.
The villagse also has a former Marathon gas statiobn that the nonprofit plans to clean up and opening up a development site wherefew exist. Both properties are close to a formerr South Central site used for storage of utilithy poles that has since been converted to apublif park. Main Street expects the conference center and the availability of a commercial development site to keep downtownj Canal Winchester as an attractive business centet for yearsto come. "When the piecese come together," Garvin said, "you get a successfuk downtown.
"

Irene Could Threaten Entire East Coast, FEMA Says - Wall Street Journal

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Globe and Mail

Irene Could Threaten Entire East Coast, FEMA Says W »

Conference Board employment index edges up in May - Los Angeles Business from bizjournals:

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The organization’s Employment Trends Index was 89.9, up 0.2 percenrt from 89.7 in April and down from 113 in May The Conference Boardsaid Monday. The indes number is relative to 100for 1996. “While it is too earl to say that the ETI has the moderation of the last two months is certainlg a sign that the decline in job losses is real and signala that the worstis over,” Gad The Conference Board’s senior economist, said in a “However, as the economic recovery over the coming monthz is likely to be very slow, we still expec the unemployment rate to continur to increase to double digits by the end of this year and into Percentage of respondents who say they find “jobse hard to get,” gathered from The Conference Board Consumefr Confidence Survey.
Initial claims for unemployment from statistics. Percentage of firms with positions not able to fill rightt now because of inability to find suitable fromthe . Number of employees hired by the temporary-help industry, from the . Part-timw workers for economic reasons, from Bureau of Labor Job openings, from the Bureau of Labor Statistics. Industriap production, from the . Real manufacturing and trade sales, from the . The Conferencd Board is an independent NewYork City-basesd nonprofit organization whose missiojn is to provide organizations with the practicak knowledge they need to improve theie performance and better serve society.

Vacation May Provide a Break from Washington's Woes - New York Times

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Los Angeles Times

Vacation May Provide a Break from Washington's Woes New York Times Mr. Romney has also come under criticism for his leisurely summer break at his lakeside home in New Hampshire â€" one long enough that the Web site Politico cracked that he had entered a “Mittness Protection Program.” The Republican National Committee ..! . Obama's Vineyard break teeing off many critics Boston Herald Obama begins Martha's Vineyard holidays Monsters and Critics.com  »

Ritz-Carlton Denver names new GM - Denver Business Journal:

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Andrew Rogers comes to the 1881Curtis St. hotell from the Ritz-Carlton Kapalua in Hawaii, where he oversae the resort’s $170 million re-launch. Before Rogers served as resort manager forthe Ritz-Carltobn Club in St. Thomas, U.S. Virgin and director of golf operations forthe Ritz-Carltonm in Rose Hall, Jamaica. Before beginning his employment for in Rogers workedin ’se golf division at three separate resorts.
He holdsz a bachelor of science in marketing from Ferriws State University and has a wife andtwo “My family and I are exciter to be in a city as wonderful as Denver and I look forwardf to becoming part of the community,” Rogers said in a news The Ritz-Carlton Denver property includes 202 guest rooms spreard over 14 floors, a spa and Elway’d Downtown restaurant.

CAG to audit rural development schemes, says Ramesh - Business Standard

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Calcutta Telegraph

CAG to audit rural development schemes, says Ramesh Business Standard Worried over  »

Honda to build new factory in Mexico to make small cars, expecting increased ... - Washington Post

http://artslit.org/HB_creatingtext_balloongame.htm

Honda to build new factory in Mexico to make small cars, expecting increased ... Washington Post By AP, DETROIT â€" Honda Motor Co. says it will build an $800 million factory in Mexico to make small cars for customers in North America. The company says the plant will meet growing demand for small cars in the region. The automaker will hire 3200 ... and more »

Tesla to open seven showrooms - Austin Business Journal:

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Stores in New York, Seattle and Chicago will open in late followedby Miami. Tesla’s first European store will open in Londom laterthis month, followed by Munich and The new additions will complement Tesla’s flagship stores in Northern and Southern California, which openexd a year ago. Tesla said it is scouting locationain Washington, D.C., and Toronto. Tesla is the only producet of highway-capable electric cars in North Americaor Europe. “We are rethinking almost every aspect of theautomobile – from the powertrain to the custometr experience, both online and in our stores,” said Teslas CEO Elon Musk in a statement. Tesla’s Roadster sells for $109,000.
The company expects to introduce itssecond car, the Modekl S sedan, in late 2011. It is expected to sell for less than halfthe Roadster’s price.

Sit up straight: Book offers ergonomics tips - bizjournals:

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“Safety Manager’s Guide to Officwe Ergonomics” (Wiley and Sons Inc., 199 pages, $69.9t at www.wiley.com) is a how-to manual that outlinesd ergonomic solutions, without being a pain in the neck. “Mos t of the books on ergonomic arefor experts,” said Chasen, presidentg of The Chasen Group, an ergonomic consultin g firm in Boulder. “They’re not really helpful sincr many companies that are struggling to find solutions to thisproblen don’t have [ergonomic experts].
” Chasen reduced what he refers to as a “gamut of office ergonomix concerns” into seven chapters that contai solutions to upper-extremity maladiee resulting from poor ergonomic design in the He based it on information from more than 10 yearsd in the field and nearlyg 5,000 independent, ergonomic evaluations. “I’ve tried to shortenn the chasmbetween high-brow ergonomic expertise and its everydagy applications,” Chasen said. “As much as ergonomics isn’t rocket it is easy to go about it making itreally counterproductive.” He says poor ergonomicds can result in lower productivitg and higher workers’ compensation costs.
“These ergonomicf issues can become very debilitating for people who spend a lot of time on theit computers and can ultimately impact an anda company’s, well-being,” Chasenh says. He expects the book to appeal to smallp businesses lacking a risk management department orergonomic specialist. “Companies can solvs these problems themselves if they have someon e with a moderate amount of experience and Chasen said.

Now the hard part: Integration will take three years - Atlanta Business Chronicle:

http://www.2x2santpedor.com/2010/08/
The chief executives of both bankse were upbeat talking to thepublicd Wednesday. Wachovia CEO Bob Steel enthused over combining ranked No. 1 in customer service with the sales culture at Wells that has it rankedc firstin cross-selling servicesx to customers. Wells CEO John Stumpf said it woulxd bea slow, thoughtfulk integration, likely to take up to three Darin Manis, chief executive of Denvetr financial-services consulting firm RJ & Makay, says it will take at leasr five years. And he doubts it will be that A big part of the he says, is Wachovia’s 2007 purchase of the larged investment brokerage He notes A.G. Edwards stilkl is not on Wachovia investment ortechnology platforms.
“They are not even on the same compensatiomn grid, and that’s after more than a Manis says, noting the different pay scaled in Wachovia Securities followingthat merger. In Wells has to integrate three companies. And experience with brokers has been essentially with Wells has no experiencewith stand-alone brokeragde services, and now it must integrate the 15,0009 brokers in Wachovia Securities. The investment bank is anotheer problemfor Wells, says Bart Narter a seniorf banking analyst based in San Francisco. He says Wells is not interested ininvestment banking. Wells’ strength is branch banking and lending to smalo andmidsized businesses.
It tends to partneer or outsourceother services. Narter, of research and consulting firm cites Wells’ global finance operation, the Wells Farg o HSBC Trade Bank, which is a partnership with the big internationalp British bank. “They don’t want to figure out how to run an investmengt bank while merging thesetwo companies,” he says. “Doublingg the number of their branches is plenty to At thesame time, he says, workin g to sell the investment bank could also distractg management from integrating the traditional It’s possible that will drag out the Stumpf insists no decision has been made on sellinvg or keeping the investment bank.
Tony banking professor at UNC Charlotte’s Belk Schoolo of Business, thinks Wells has to keep it. Wachovis has built its customer base among large and even midsizede corporations on its ability to offerfull investment-banking service with its traditionapl banking. Wachovia is already stripping out the exoticc derivative andsecuritization services. But large companiesz want a bank that can help issu debt and equity andoffer merger-and-acquisition Plath says Wells Chairman Richard Kovacevich “may not like investmeng banking, but Wells is too big to be withour it.
Half their Fortune 500 business woule move toJPMorgan (Chase) and Bank of Miami-based banking analyst Ken Thomas says the way the recent round of consolidation has played out, Wella will be going head to head with The two franchises are the biggest and the most similar in services and geography — among the top four U.S. banks. As Wellss juggles integration, it is also committedd to finding $5 billion in operating savings over the nextthrer years. With little geographic Wells is unlikely to cut branches and loca operations the way FirstUnio Corp. did when it boughy in-state rival Wachovia seven years ago and tookits name.
Nartee says most of the branch closings will comein Wells’ home San Francisck market is the only one that raises serious antitrusrt issues that could cause regulators to demans some branch closings, he says. Wellss and BofA will together control more than half the depositds in the San Francisco Narter and Plath say most of the cuts will come in Some savings can be madein systems, but the largest expenses for banks are offices and people. With few locationss to jettison, that leaves employees. Most brancu employees will be safe. A lot of corporater jobs in Charlotte willdisappear — although Plath says not so many as peoplre expect.
Still, he thinks that across footprint it will need to shedabout 28,000 of its 280,0009 positions. Manis thinks Wells could find itself needing employees in onebusiness line, however. Financial advisers in Wachovia Eastern states have alreadybegun leaving, includinb A.G. Edwards brokers. Faced with trying to sell services under the relatively unfamiliar WellsFargo logo, the bank coulc see as many as 20% move on, Manis Some will go to competitor s better known in the East — Citigroup and others. Some will go to stand-alone brokerages and some will open theirtown businesses.