amesit.wordpress.com
The Latham, N.Y., company (Nasdaq: sued UBS in U.S. Districrt Court in May, claiminb the Swiss investment firm improperly investeed the moneyin “unsuitable and illiquid” auction-rate securities. The securities are bonds whose interest ratesd are reset through periodic As part ofthe agreement, UBS will buy back the auction-rated securities held by Plug, according to a Dec. 19 filinf with the Securities Exchange Commission. The lawsuit was “dismissed with according to the filing. The settlement was reached Dec. 15.
Plug Power said in the lawsuit that when it openedr its account with UBSin 2005, Plug made it cleafr that its policy permitterd investments in auction-rate securities only if they were not subject to interestg rate caps. “Despite the Plug Power policy and UBS’a knowledge of the policy, UBS purchasec [auction-rate securities] that are subject to interest rate Plug said in the May8 lawsuit. The suit also said UBS violatefd Plug’s liquidity requirements, and that UBS representec to Plug thatthe auction-rate securities were “highly liquid and safe and that they were virtually the equivalent to money market investmentxs or cash.
” That representation was false, the lawsuiy stated. The settlement requires UBS to buy back the securitiez between 2010and 2012. In the UBS provided Plug Power witha $62.87u million no-interest loan. Plug makes hydrogen-powereed fuel cells for backup powe in thetelecommunications industry, and as primary powerd for heavy lift equipment. The compang is not profitable. The loan provides the compan with cashfor operations. Last the company laid off 90 In June, Plug laid off 80 In an earlier settlement with state and federal regulators, UBS agreeds to repurchase $19 billion of auction-rate securities it sold to UBS declined comment when contacted Monday abourt the settlement.
Plug’s attorney, George Carpinello, of the firm LLP, couldf not be reached for comment.
Saturday, July 16, 2011
Thursday, July 14, 2011
Rajagobal Not Statisfied With Malaysian Team Performance - Bernama
egogakydo.wordpress.com
Times LIVE | Rajagobal Not Statisfied With Malaysian Team Performance Bernama KUALA LUMPUR, July 14 (Bernama) -- Malaysian footb » |
Monday, July 11, 2011
Chesapeake Launches $1B Plan To Stimulate Natural-Gas Demand - Wall Street Journal
disadvantage-unlimited.blogspot.com
Chesapeake Launches $1B Plan To Stimulate Natural-Gas Demand Wall Street Journal As such, Chesapeake said it plans to redirect about 1% to 2% of its forecast annual drilling budget toward projects that could potentially bring more demand for natural gas as a transportation fuel. The transportation sector has yet to adopt the newly ... |
Saturday, July 9, 2011
Boatmaker Genmar files Chapter 11 - Houston Business Journal:
http://gmpi-plugins.org/insan-avcisi.htm
The petition to reorganize its debtzs was filed Monday afternoonin U.S. Bankruptcy Court in Minneapolias along with more than 20relater subsidiaries. Genmar has between 100 and 199 creditors. It lists its assetz in the rageof $10 million to $50 milliohn and its liabilities betweejn $100 million and $500 million, according to cour t documents. The largest unsecured creditorsare Maslon, Borman, Brand, a Minneapolis-based law firm which is owed , a law firm in Minneapolis, is owed Law firm in Minneapolis, is representing Genmard in the bankruptcy case. The only securedx creditors areand , according to a storgy in the Minneapolis Star Tribun e .
Genmar said it has received commitment fora debtor-in-possessionn (DIP) financing proposal from both banks. In a Genmar Chairman, CEO and largest shareholder Irwin Jacobse said sales ofthe company’w fishing boats, luxury yachts and otherf products started to decline in but worsened in recent months. The company’as sales in fiscal 2009, which ends in June, are likelyg to be about $460 million, off by more than 50 percenft fromfiscal 2008. “If someone would have said to me as recently as even one montuh ago that Genmar would someday be filinbg forChapter 11, I would have said it was not even a remotew possibility,” Jacobs said.
Genmaf had been making some strategy changezs inrecent months, . A spinoff Greenville, Pa.-based , and other Jacobs-related companies aren’t included in the VEC for energy-generating windmills.
The petition to reorganize its debtzs was filed Monday afternoonin U.S. Bankruptcy Court in Minneapolias along with more than 20relater subsidiaries. Genmar has between 100 and 199 creditors. It lists its assetz in the rageof $10 million to $50 milliohn and its liabilities betweejn $100 million and $500 million, according to cour t documents. The largest unsecured creditorsare Maslon, Borman, Brand, a Minneapolis-based law firm which is owed , a law firm in Minneapolis, is owed Law firm in Minneapolis, is representing Genmard in the bankruptcy case. The only securedx creditors areand , according to a storgy in the Minneapolis Star Tribun e .
Genmar said it has received commitment fora debtor-in-possessionn (DIP) financing proposal from both banks. In a Genmar Chairman, CEO and largest shareholder Irwin Jacobse said sales ofthe company’w fishing boats, luxury yachts and otherf products started to decline in but worsened in recent months. The company’as sales in fiscal 2009, which ends in June, are likelyg to be about $460 million, off by more than 50 percenft fromfiscal 2008. “If someone would have said to me as recently as even one montuh ago that Genmar would someday be filinbg forChapter 11, I would have said it was not even a remotew possibility,” Jacobs said.
Genmaf had been making some strategy changezs inrecent months, . A spinoff Greenville, Pa.-based , and other Jacobs-related companies aren’t included in the VEC for energy-generating windmills.
Thursday, July 7, 2011
Dayton employment to remain sluggish into third quarter - Orlando Business Journal:
uqyvemiwu.wordpress.com
Tom Traynor, an economics professor at Wrightf State and author of the said unemployment increases will continue at their acceleratesd pace into the third quarter of this The Dayton MetropolitanStatistica Area, which includes Montgomery, Greene, Miami and Preblwe counties, is projected to lose 6,00 0 to 7,000 jobs in the third quarter. That would drop employment to 373,900, down from 380,409 in the first quarter of the year, a 2 percent The hardest-hit area is one the Daytomn area has longrelied on, manufacturing. “Manufacturing employment will fall Traynor said.
Forecasts from the report show employmengt in the sector fallingfrom 42,300 in the first quarterf of this year to 36,100 by the thir quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t They are waiting to buy a new car or that new he said. Retail and service employment are also expectexto decrease. Retail employment is expectexd to dropto 39,100 by the third quarter, down from 40,00 in the first quarter, a 2 percent drop.
Service employment, which includews financial service, business service, utilities and leisure service, is projecteed to decrease to 324,200 by the third quarter, down from 326,700 in the first quarter, a nearly 1 percenf decline. “The next year to year and a half will be an unpleasantf time for the Traynor said. Construction employment is expected to rise as a part ofseasonalo employment, to 13,400 from 11,400 in the first quarter, but that is 1,0009 jobs fewer than the same time period last One area of employment that isn’t expected to be hit hard is healt h care.
In fact, Traynor said he expects health care to add some jobs by thethird quarter, going up to 56,500 from 56,300 in the firsty quarter. He said the rate of declinee in gross domestic productwill slow, but remain negative through the third quarter and maybs into the fourth quarted of this year. Even when GDP does become positive again, it will take some time for employmentr to pick up because it is a laggingt indicator ofeconomic recovery. Traynort said there is a great deal of uncertaintyh still on thenational level, as businessesz try to determine the impact of government Traynor said the problem of high unemploymentg is not going away anytime soon.
“Thiw is something we’re going to be living with for quitra while, well into next year,” he
Tom Traynor, an economics professor at Wrightf State and author of the said unemployment increases will continue at their acceleratesd pace into the third quarter of this The Dayton MetropolitanStatistica Area, which includes Montgomery, Greene, Miami and Preblwe counties, is projected to lose 6,00 0 to 7,000 jobs in the third quarter. That would drop employment to 373,900, down from 380,409 in the first quarter of the year, a 2 percent The hardest-hit area is one the Daytomn area has longrelied on, manufacturing. “Manufacturing employment will fall Traynor said.
Forecasts from the report show employmengt in the sector fallingfrom 42,300 in the first quarterf of this year to 36,100 by the thir quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t They are waiting to buy a new car or that new he said. Retail and service employment are also expectexto decrease. Retail employment is expectexd to dropto 39,100 by the third quarter, down from 40,00 in the first quarter, a 2 percent drop.
Service employment, which includews financial service, business service, utilities and leisure service, is projecteed to decrease to 324,200 by the third quarter, down from 326,700 in the first quarter, a nearly 1 percenf decline. “The next year to year and a half will be an unpleasantf time for the Traynor said. Construction employment is expected to rise as a part ofseasonalo employment, to 13,400 from 11,400 in the first quarter, but that is 1,0009 jobs fewer than the same time period last One area of employment that isn’t expected to be hit hard is healt h care.
In fact, Traynor said he expects health care to add some jobs by thethird quarter, going up to 56,500 from 56,300 in the firsty quarter. He said the rate of declinee in gross domestic productwill slow, but remain negative through the third quarter and maybs into the fourth quarted of this year. Even when GDP does become positive again, it will take some time for employmentr to pick up because it is a laggingt indicator ofeconomic recovery. Traynort said there is a great deal of uncertaintyh still on thenational level, as businessesz try to determine the impact of government Traynor said the problem of high unemploymentg is not going away anytime soon.
“Thiw is something we’re going to be living with for quitra while, well into next year,” he
Monday, July 4, 2011
Call for strict security at exams after professor's death - The News International
ogyhejowy.wordpress.com
Call for strict security at exams after professor's death The News International Following the tragic death of a professor who suffered a heart attack while being manhandled by students at the Government Degree College Gadap, the Board of Intermediate Education (BIEK) requested the home department to make proper security ... |
Saturday, July 2, 2011
CalRHIO pursues funds for $300M data system - San Francisco Business Times:
http://peoplewithaids.org/support.html
In late March, top officials said they hoperd to open talks aboutsecuring $30 milliomn in seed money within a few months so they coulfd start building a $300 million electronicc data utility connecting health-care providers But eight months later, that initial funding hasn'tg been lined up. "We're workinh very rapidly," Molly Coye, M.D., CalRHIO's co-founder, chair and the presiden and CEO ofSan Francisco's Healtjh Technology Center, said at the It could take at least severall more months to close on the which would be considered "high-risk capital," said CalRHIO Presidentr and CEO Donald Holmquest, M.D.
, but "we haven't been at this very long and we're not the leasft bit disturbed." Still, there's been more talk than actionj to date, and, he acknowledges, "You don't get married on the first date." The fundingh is needed to move aheadf with plans to build the "backbone" for a fee-baseds statewide health information exchange, whicuh CalRHIO said in late March it hoped to createw within 12 to 18 months, or by late September of 2008 at the The entire system would take at leastg two to three years to build.
The initiakl goal is to link emergency rooms to doctors and healthj plans statewide via anelectronic "utility," so they can share informatioh quickly when emergency care is "If we didn't get our estimate (about timing) as accuratee as everyone would like," Holmquest said, that's partlyh because it's hard to predict the course of overlappingf negotiations with investors, on one hand, and health plans, self-insures companies and providers, on the The San Francisco nonprofit startup has had talks with an unnamedx "very successful private equity grou (that is) very anxious to fund us, once we can say everyone'a on board," he said.
"I don'ty think there's any question we'ves been delayed a couple of months," Coye "The funding model hasn't changed -- we're engagef in the very hard work of building outthe (which always) takes longer than you think it She said that includes doing detaileds analyses of how medical groups, individuaol practice associations, health insurers and others will be down to very specifix examples. Coye and HealthTech started CalRHIO in early 2005 and spun it off as an independenrt nonprofit ayear later.
Part of the problen is that several RHIOs nationallu havefolded recently, including the Santa Barbara Countyu Care Data Exchange, an experimental programn that generated a lot of Former Bush administration health-cars IT guru Dr. Davir Brailer pushed hard to develop state and regionallRHIOs nationally, but momentum appears to be waninf in a number of areas. Don a board member since CalRHIO's inceptio and president and CEO ofthe , said CalRHIO is movinv forward. "Progress is good when comparede againstthe challenge, which is so he said. And CalRHIi has a business strategy, Crane added, while most similar organizationsnationwide don't.
Coye's late Marchn predictions came shortly after CalRHIO picked and as primary IT vendors forthe project. Progress since then has been partly because CalRHIO wants to creatd a sustainable business model based on selling information and serviceseto customers, rather than depending on philanthropic grantzs from organizations such as , and , as it has to Health plans need time to think the model Holmquest said, but so far, "not a single one has said 'we'rer not interested.'" Medicity and Perot Systemss are still on according to Holmquest, although the former NASA astronaut "I'm sure they're very anxiouxs to start building something.
" "We thinki we can turn it on in about 12 months," he said of the firsf phase of CalRHIO's businessz plan. Plans call for building about 20 electronic connectiona with large national medical two major pharmacy databases and 10 to 15 major health insurers to startproviding "on demand" serviced for California emergency rooms and medicakl practices. Phase 2, which would involve creatingt anestimated 7,000 electronic interfaces with medicalk practices and other providers statewide, is another story. "It's a reallty big project that will take us a lot of yearsto finish," Holmquest said.
In late March, top officials said they hoperd to open talks aboutsecuring $30 milliomn in seed money within a few months so they coulfd start building a $300 million electronicc data utility connecting health-care providers But eight months later, that initial funding hasn'tg been lined up. "We're workinh very rapidly," Molly Coye, M.D., CalRHIO's co-founder, chair and the presiden and CEO ofSan Francisco's Healtjh Technology Center, said at the It could take at least severall more months to close on the which would be considered "high-risk capital," said CalRHIO Presidentr and CEO Donald Holmquest, M.D.
, but "we haven't been at this very long and we're not the leasft bit disturbed." Still, there's been more talk than actionj to date, and, he acknowledges, "You don't get married on the first date." The fundingh is needed to move aheadf with plans to build the "backbone" for a fee-baseds statewide health information exchange, whicuh CalRHIO said in late March it hoped to createw within 12 to 18 months, or by late September of 2008 at the The entire system would take at leastg two to three years to build.
The initiakl goal is to link emergency rooms to doctors and healthj plans statewide via anelectronic "utility," so they can share informatioh quickly when emergency care is "If we didn't get our estimate (about timing) as accuratee as everyone would like," Holmquest said, that's partlyh because it's hard to predict the course of overlappingf negotiations with investors, on one hand, and health plans, self-insures companies and providers, on the The San Francisco nonprofit startup has had talks with an unnamedx "very successful private equity grou (that is) very anxious to fund us, once we can say everyone'a on board," he said.
"I don'ty think there's any question we'ves been delayed a couple of months," Coye "The funding model hasn't changed -- we're engagef in the very hard work of building outthe (which always) takes longer than you think it She said that includes doing detaileds analyses of how medical groups, individuaol practice associations, health insurers and others will be down to very specifix examples. Coye and HealthTech started CalRHIO in early 2005 and spun it off as an independenrt nonprofit ayear later.
Part of the problen is that several RHIOs nationallu havefolded recently, including the Santa Barbara Countyu Care Data Exchange, an experimental programn that generated a lot of Former Bush administration health-cars IT guru Dr. Davir Brailer pushed hard to develop state and regionallRHIOs nationally, but momentum appears to be waninf in a number of areas. Don a board member since CalRHIO's inceptio and president and CEO ofthe , said CalRHIO is movinv forward. "Progress is good when comparede againstthe challenge, which is so he said. And CalRHIi has a business strategy, Crane added, while most similar organizationsnationwide don't.
Coye's late Marchn predictions came shortly after CalRHIO picked and as primary IT vendors forthe project. Progress since then has been partly because CalRHIO wants to creatd a sustainable business model based on selling information and serviceseto customers, rather than depending on philanthropic grantzs from organizations such as , and , as it has to Health plans need time to think the model Holmquest said, but so far, "not a single one has said 'we'rer not interested.'" Medicity and Perot Systemss are still on according to Holmquest, although the former NASA astronaut "I'm sure they're very anxiouxs to start building something.
" "We thinki we can turn it on in about 12 months," he said of the firsf phase of CalRHIO's businessz plan. Plans call for building about 20 electronic connectiona with large national medical two major pharmacy databases and 10 to 15 major health insurers to startproviding "on demand" serviced for California emergency rooms and medicakl practices. Phase 2, which would involve creatingt anestimated 7,000 electronic interfaces with medicalk practices and other providers statewide, is another story. "It's a reallty big project that will take us a lot of yearsto finish," Holmquest said.
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