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The buyer, a holdinbg company created by private-equity firm and its portfolil company , will pay 92 cents per sharse for SoftBrands. Shares of SoftBrands closed at 47 centds per shareon Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Calif.-based Golden Gate Capital has about $9 billion in asset under management. Infor, basec in Alpharetta, Ga., is a softwarew company with about 9,000 employees and $2.2 billionh in revenue. Minneapolis-based SoftBrands (AMEX: SBN) sells software to the hospitalityt industry, as well as to smalpl and mid-sized manufacturers under the Its products handle tasks such as makin reservations to settingroom rates.
SoftBranda CEO Randy Tofteland said in a presws statement that the deal will allow shareholdersdto “realize significant value from theier investment.” He also said the companyh would benefit from an “alliance” with Infor. A spokeswoman for Inford said SoftBrands will continue to have a presenc ein Minneapolis, though it has yet to be determined how many employee s will remain here. SoftBrands’ board has already approvede the sale, which is expected to closer in between 60 and90 days.
Tuesday, May 31, 2011
Saturday, May 28, 2011
Credit available to first-time home buyers - Phoenix Business Journal:
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Under the American Recoverh and Reinvestment Act of citizens may qualify for the tax credit for purchasingf their first home after filing their But under anew program, state housing finance agencies and nonprofitss can advance money to home buyers up to the full amount of the tax credit to be used on a home either to pay closing costs or to add to a down “Home buyers using FHA-approved lenders can apply the tax credir to their down payment in excess of 3.5 percenrt of appraised value or their closing which can help achieve a lower interest a HUD announcement said.
The stimulux tax credit can be claimedc on a 2009 or an amended 2008 tax FHA still will require home buyersd to makea 3.5 percent down Mark Harden is a reporter with the Denver Business a sister publication.
Under the American Recoverh and Reinvestment Act of citizens may qualify for the tax credit for purchasingf their first home after filing their But under anew program, state housing finance agencies and nonprofitss can advance money to home buyers up to the full amount of the tax credit to be used on a home either to pay closing costs or to add to a down “Home buyers using FHA-approved lenders can apply the tax credir to their down payment in excess of 3.5 percenrt of appraised value or their closing which can help achieve a lower interest a HUD announcement said.
The stimulux tax credit can be claimedc on a 2009 or an amended 2008 tax FHA still will require home buyersd to makea 3.5 percent down Mark Harden is a reporter with the Denver Business a sister publication.
Thursday, May 26, 2011
Markets end quarter in negative territory - Pittsburgh Business Times:
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Most among a cross-section of companies operatinh in Pittsburgh tooklosses Tuesday, albeit light Two eked out slight gains. Kennametalk Inc. (NYSE:KMT), was up 0.52 percent to $19.19 per PPG Industries Inc. finished Tuesday trading with a gainof 0.11 percen to $43.91. Alcoa Inc. down 1.05 percent to $10.33 Allegheny Energuy Inc. (NYSE:AYE), down 1.31 percent to $25.66 Allegheny Technologiee Inc. (NYSE:ATI) up 0.29 percent to $34.88 American Eagle Outfitters Inc. down 1.19 percent to $14.15 Bank of New York Mellon Corp. down 1.25 percent to $29.34 CB Richard Ellis Groul Inc. (NYSE:CBG) down 1.17 percent to $9.33 CONSOL Energg Inc. (NYSE:CNX), down 2.24 percenf to $33.
98 Dick’s Sporting Goods down 1.66 percent to $17.18 Federated Investors Inc. down 0.82 percent to $24.10 Firsft Niagara Financial Group Inc. (NYSE:FNFG), down 1.30 percent to $11.41 H.J.Heinz Co. (NYSE:HNZ), down 0.17 percent to $35.6 9 Koppers Holdings Inc. (NYSE:KOP), down 1.75 percent to $26.42 Mylabn Inc. (Nasdaq:MYL), down 1.51 percent to $13.0t PNC Financial Services Group Inc. down 1.87 percent to $38.84 U.S. Steel Corp. down 3.43 percent to $35.74 WABTEC Corp. (NYSE:WAB), down 2.60 percent to $32.22 WESCO Internationalk Inc. (NYSE:WCC), down 1.22 percentr to $25.
04
Most among a cross-section of companies operatinh in Pittsburgh tooklosses Tuesday, albeit light Two eked out slight gains. Kennametalk Inc. (NYSE:KMT), was up 0.52 percent to $19.19 per PPG Industries Inc. finished Tuesday trading with a gainof 0.11 percen to $43.91. Alcoa Inc. down 1.05 percent to $10.33 Allegheny Energuy Inc. (NYSE:AYE), down 1.31 percent to $25.66 Allegheny Technologiee Inc. (NYSE:ATI) up 0.29 percent to $34.88 American Eagle Outfitters Inc. down 1.19 percent to $14.15 Bank of New York Mellon Corp. down 1.25 percent to $29.34 CB Richard Ellis Groul Inc. (NYSE:CBG) down 1.17 percent to $9.33 CONSOL Energg Inc. (NYSE:CNX), down 2.24 percenf to $33.
98 Dick’s Sporting Goods down 1.66 percent to $17.18 Federated Investors Inc. down 0.82 percent to $24.10 Firsft Niagara Financial Group Inc. (NYSE:FNFG), down 1.30 percent to $11.41 H.J.Heinz Co. (NYSE:HNZ), down 0.17 percent to $35.6 9 Koppers Holdings Inc. (NYSE:KOP), down 1.75 percent to $26.42 Mylabn Inc. (Nasdaq:MYL), down 1.51 percent to $13.0t PNC Financial Services Group Inc. down 1.87 percent to $38.84 U.S. Steel Corp. down 3.43 percent to $35.74 WABTEC Corp. (NYSE:WAB), down 2.60 percent to $32.22 WESCO Internationalk Inc. (NYSE:WCC), down 1.22 percentr to $25.
04
Tuesday, May 24, 2011
China meets target of reinforcing more than 7000 reservoirs within 3 years - Xinhua
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China meets target of reinforcing more than 7000 reservoirs within 3 years Xinhua CHANGCHUN, May 24 (Xinhua) -- China has met its 2006 target of reinforcing 7356 reservoirs within three years, China's Minister of Water Resources, Chen Lei, said on Tuesday. The investment in the reinforcement of the 7356 reservoirs totaled 62.48 ... |
Sunday, May 22, 2011
Winter Park tries to slow Park Avenue's retail loss - Puget Sound Business Journal (Seattle):
Cedar siding
Take Chris Tillett, CEO of boutique makeu studio , who movefd from Park Avenue to Maitland last summer due to highrent (he was payinyg $41 per square foot in Winterd Park), less foot traffic and lack of city involvement. Tillett’s exit and that of otherf former Park Avenue retailers have prompted both the city of Wintert Park and landlords to try to addresdsthe situation. “We saw businesses leaving and an increasinvg animosity between retailersand restaurants, so this was the perfect time to talk it said Sherry Gutch, community redevelopment directoe for Winter Park. In fact, the area’s vacancy rate has nearly doubled in the past 12 jumping to 11 percentfrom 6.
5 percent a year ago, said Collierws Arnold in Orlando, a real estate services firm. In addition, the averagr rental rate is $25.64 per square down 5.4 percent from $27.10 per squarde foot a year ago. In the overall Winter Park/Maitland submarket chargesw an averageof $21.60 per square foot for retail spacwe and had a 10.5 percenty vacancy rate for year-end 2008, said the . To address the the city commissioneda $55,000 stud on the matter by Charleston, S.C.-bases America’s Research Group, a consumer and markert research firm.
The study will try to revitaliz ePark Avenue’s image through new marketing efforts, city-supported eventa where streets are closed off and othe r strategies to increase business. The city will also look at an alcohool ordinance on June 8 that would allo w eating and drinking establishmentsbesides seated-service restaurants to serve beer and she said. Joanne McMahon, principal of 310 Park Soutb Restaurant, agrees rents are higher on Park Avenue than in mostretailp areas, but said her business still gets enough foot traffif to make up for it.
In fact, business is good enoughu for McMahon’s 130-seat, 2,800-square-foot restaurant to expand by 2,300 square feet and add 60 seatssthis summer. Even local landlords are tryin g to spice up Park Larry Williams, owner of Winter Park-basec , said his company this year finished a $2 million renovation of the old Jacobson’s spacd that was vacated in 1999. There, Eucalyptus Properties createsdthe 16,000-square-foot retail/restaurant Shops on Park which faces both Park Avenue and Center Williams, whose company owns more than 12,000 squaree feet of retail space on Park said the property should provide a fresbh look and bring much-needed attention to the shoppinbg district.
As for Tillett, he said if the city and landlordz can resolve the issues that causedx himto leave, he’d consider returningy to Park Avenue. “Ibn reality, this is the best thing that can happen to theavenud — for it to be humbled a bit.”
Take Chris Tillett, CEO of boutique makeu studio , who movefd from Park Avenue to Maitland last summer due to highrent (he was payinyg $41 per square foot in Winterd Park), less foot traffic and lack of city involvement. Tillett’s exit and that of otherf former Park Avenue retailers have prompted both the city of Wintert Park and landlords to try to addresdsthe situation. “We saw businesses leaving and an increasinvg animosity between retailersand restaurants, so this was the perfect time to talk it said Sherry Gutch, community redevelopment directoe for Winter Park. In fact, the area’s vacancy rate has nearly doubled in the past 12 jumping to 11 percentfrom 6.
5 percent a year ago, said Collierws Arnold in Orlando, a real estate services firm. In addition, the averagr rental rate is $25.64 per square down 5.4 percent from $27.10 per squarde foot a year ago. In the overall Winter Park/Maitland submarket chargesw an averageof $21.60 per square foot for retail spacwe and had a 10.5 percenty vacancy rate for year-end 2008, said the . To address the the city commissioneda $55,000 stud on the matter by Charleston, S.C.-bases America’s Research Group, a consumer and markert research firm.
The study will try to revitaliz ePark Avenue’s image through new marketing efforts, city-supported eventa where streets are closed off and othe r strategies to increase business. The city will also look at an alcohool ordinance on June 8 that would allo w eating and drinking establishmentsbesides seated-service restaurants to serve beer and she said. Joanne McMahon, principal of 310 Park Soutb Restaurant, agrees rents are higher on Park Avenue than in mostretailp areas, but said her business still gets enough foot traffif to make up for it.
In fact, business is good enoughu for McMahon’s 130-seat, 2,800-square-foot restaurant to expand by 2,300 square feet and add 60 seatssthis summer. Even local landlords are tryin g to spice up Park Larry Williams, owner of Winter Park-basec , said his company this year finished a $2 million renovation of the old Jacobson’s spacd that was vacated in 1999. There, Eucalyptus Properties createsdthe 16,000-square-foot retail/restaurant Shops on Park which faces both Park Avenue and Center Williams, whose company owns more than 12,000 squaree feet of retail space on Park said the property should provide a fresbh look and bring much-needed attention to the shoppinbg district.
As for Tillett, he said if the city and landlordz can resolve the issues that causedx himto leave, he’d consider returningy to Park Avenue. “Ibn reality, this is the best thing that can happen to theavenud — for it to be humbled a bit.”
Thursday, May 19, 2011
GM bankruptcy plan approved, dealer disputes up to states - South Florida Business Journal:
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U.S. Bankruptcy Judge Robert E. Gerber issued an ordefr green-lighting GM’s plan in a 95-page opinioh filed Sunday evening. In it, he explained that the plan to sell GM to a reorganized collection of shareholderx was in the best interest ofthe nation’ s car industry. GM filed for bankruptcy June 1. “As nobodyy can seriously dispute, the only alternative to an immediatr sale isliquidation — a disastrous resulf for GM’s creditors, its employees, the supplierw who depend on GM for their own existence, and the communitie in which GM operates,” Gerber said in his “In the event of a creditors now trying to increase theifr incremental recoveries would get nothing.
” As of March 31, GM reportef global assets of $82 billiomn and liabilities of $172 However, because assets appear at book value, if there was a liquidatioh the asset value being considered would be 10 percenyt of $82 billion, Gerber said. On June 19, Floridwa Attorney General Bill McCollum joined his counterparts in 44 other statezs to file an objectionj to the GMbankruptcy plan, saying it wouldx strong-arm dealers in the state to waivw rights they normally would enjoy under Florida law in order to becomew a part of the new organization.
GM had wanted disputes over the agreements to play out in New York despite laws that give Florida jurisdiction in such matterx involving dealers in the McCollum asked the courtto “affirmn that the relationship between New GM and its Florida dealers will be governed by Florida and order any new agreement that does not folloe Florida law to be “invalid and Gerber, however, addressed the disputes it said woulrd affect 4,100 of GM’s 6,000 dealerships, sayinb the auto manufacturer could not take all of the dealere “on the same basis,” while termination agreemente would allow dealers 17 months to transition out of GM “The agreements of both types include waivers of righ t that dealers would have in connection with their Gerber said in his statement.
A settlemeny that was reached with the attorneys general of the 45 statee will allow disputes of the agreementes to be handled by each GMemploys 235,000 worldwide, including 91,00 in the U.S. The , which has 68 percent of GM’ds U.S. workforce among its is the single-largest unsecured creditor for GM. The U.S. governmenty has loaned the company $50 billion, while the governments of Canada and Ontario loanedit $9.1 All three entities will have an ownership stakes in the new company. An additional $27 billiomn was loaned through unsecured bonds fromindenturerd trustees.
The new company will continue to operate under the GeneralMotors name, and will focus more on fuel-efficient while shedding some of its brands, including Pontiac, Hummer and Government officials said they hope to take the newlyg organized company public by next while the old GM will “winrd down business.” GM will lay off an additionak 21,000 employees and close at least a dozehn plants. Gerber said making the ruling just a mont h after the initial filingg was important to try to save theailing company. “Thw U.S.
government’s fear — a fear this coury shares if GM cannot be saved as a goinconcern — was of a systemicf failure throughout the domestic automotive industry and the significang harm to the overall U.S. economy that would resulf from the loss of hundreds of thousand s of jobs and the sequential shutdow n of hundreds of thousands of ancillary business if GM had toceasde operations,” Gerber said.
U.S. Bankruptcy Judge Robert E. Gerber issued an ordefr green-lighting GM’s plan in a 95-page opinioh filed Sunday evening. In it, he explained that the plan to sell GM to a reorganized collection of shareholderx was in the best interest ofthe nation’ s car industry. GM filed for bankruptcy June 1. “As nobodyy can seriously dispute, the only alternative to an immediatr sale isliquidation — a disastrous resulf for GM’s creditors, its employees, the supplierw who depend on GM for their own existence, and the communitie in which GM operates,” Gerber said in his “In the event of a creditors now trying to increase theifr incremental recoveries would get nothing.
” As of March 31, GM reportef global assets of $82 billiomn and liabilities of $172 However, because assets appear at book value, if there was a liquidatioh the asset value being considered would be 10 percenyt of $82 billion, Gerber said. On June 19, Floridwa Attorney General Bill McCollum joined his counterparts in 44 other statezs to file an objectionj to the GMbankruptcy plan, saying it wouldx strong-arm dealers in the state to waivw rights they normally would enjoy under Florida law in order to becomew a part of the new organization.
GM had wanted disputes over the agreements to play out in New York despite laws that give Florida jurisdiction in such matterx involving dealers in the McCollum asked the courtto “affirmn that the relationship between New GM and its Florida dealers will be governed by Florida and order any new agreement that does not folloe Florida law to be “invalid and Gerber, however, addressed the disputes it said woulrd affect 4,100 of GM’s 6,000 dealerships, sayinb the auto manufacturer could not take all of the dealere “on the same basis,” while termination agreemente would allow dealers 17 months to transition out of GM “The agreements of both types include waivers of righ t that dealers would have in connection with their Gerber said in his statement.
A settlemeny that was reached with the attorneys general of the 45 statee will allow disputes of the agreementes to be handled by each GMemploys 235,000 worldwide, including 91,00 in the U.S. The , which has 68 percent of GM’ds U.S. workforce among its is the single-largest unsecured creditor for GM. The U.S. governmenty has loaned the company $50 billion, while the governments of Canada and Ontario loanedit $9.1 All three entities will have an ownership stakes in the new company. An additional $27 billiomn was loaned through unsecured bonds fromindenturerd trustees.
The new company will continue to operate under the GeneralMotors name, and will focus more on fuel-efficient while shedding some of its brands, including Pontiac, Hummer and Government officials said they hope to take the newlyg organized company public by next while the old GM will “winrd down business.” GM will lay off an additionak 21,000 employees and close at least a dozehn plants. Gerber said making the ruling just a mont h after the initial filingg was important to try to save theailing company. “Thw U.S.
government’s fear — a fear this coury shares if GM cannot be saved as a goinconcern — was of a systemicf failure throughout the domestic automotive industry and the significang harm to the overall U.S. economy that would resulf from the loss of hundreds of thousand s of jobs and the sequential shutdow n of hundreds of thousands of ancillary business if GM had toceasde operations,” Gerber said.
Tuesday, May 17, 2011
Mahavishnu Project Presents COMPLETE VISIONS OF THE EMERALD BEYOND - Broadway World
mcfarlainofuqub1258.blogspot.com
Mahavishnu Project Presents COMPLETE VISIONS OF THE EMERALD BEYOND Broadway World Tonight's opening act, JESSE GRESS with members of the Mahavishnu Project will perform the music of Jeff Beck and Jan Hammer. The Mahavishnu Project is the only jazz repertory ensemble of its kind to receive the endorsement of guitarist/composer John ... |
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