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Ltd.’s unveiling of a remotely automated port in South Korea, and its plan to build threee new terminals, including a $208 million terminal at Dames Point, reflect the company’sw aggressive mentality in spite of the recession, said Roy senior director of trade development and global marketing for the . That and Mitsui Lines Ltd.’s own plans for expansion show confidence inthe industry’ds upturn and cements their current and futurw operations in Jacksonville. Hanjin’s “attitude is, ‘We’d be foolish not to push things forwardr and getthings done,’ Schleicher said.
“We thought they might want to slowthingxs down, but instead they want to push forwarx faster.” Hanjin’s revenue has fared better than ’s, with nearly 30 percenrt growth to about $8 billion in fiscalo year 2008, compared with the same period a year ago. Despite a drop in cargl volume, the sixth-largest shipping company’d profits grew by more than 60 percent toabouf $198 million within the same But the international slump caughy up with the company in the firsf quarter of 2009, when it reported a $191 million net according to the Journal of In response, the company pushed back some of its orderes for ships.
Mitsui, which is the 15th-largest international shipping company, posted a $1.3 billionm profit in fiscal 2008, down nearlyg 32 percent. It blamed the declinr in profits on the internationaltrade slump, high fuel pricesa and a strong yen. The company’s revenued declined by about 4.1 percent to $18.6 billion. Hanjihn is opening a terminal in Spain in 2010 and anothert in Vietnam with Mitsuiin 2011. With the openinfg of its terminal in Jacksonvillsein 2012, Hanjin will have five terminals in Southj Korea and eight abroad.
Hanjin plans to expand its vessek capacity fromabout 375,000 twenty-foot equivalent or TEUs, to about 575,000 TEUs within the next few said William Rooney, managing director of the company’ds American headquarters. Similarly, Mitsui, the parent company of the Damed Point terminaloperator , is looking to spend millions of dollars to buy an overseasw bulk shipping line. The slump has loweredc the valuation ofpotential acquisitions. The Japanese company plans to increasw its fleet ofbulk carriers, tankers and car carrierzs by 6.5 percent to 740 ships by the end of this fisca year. Mitsui plans also to open a new terminalin Netherlands, in late 2013.
In the company has added three bringing two weekly services that open Jacksonville to new Asian markets and strengthening Europeancontainer service. Mitsui’d service calls on Busan and theres will likely be an increase in trade betweeb Jacksonville and South Korea when Hanjinbegind service, Schleicher said. South Korea is a large exporterf of consumer electronics and a strong importer ofconsumedr goods, lumber and citrus. Schleicher said he was impressedwith Hanjin’w technological capability after attending the opening of its Busaj terminal May 21 with Rick Ferrin, the authority’s executivee director.
The terminal gives a glimpse of how the remotelyy automated terminal planned in Jacksonvillrewill operate. “I’ve never seen a terminal business as sophisticatecd asthis one,” Schleichedr said. The Busan terminall can handle up to 2 million TEUs compared with the planned Jacksonville terminap that can handleabourt 800,000 TEUs annually. The Jacksonville terminal will be similar in that it will alsouse rail-mounted gantryy cranes to transport containers between the yard and the ship, Roonety said. The crane travels on rails and is controlled remotelh byan operator. The terminal at Dames Point will have 12 to15 rail-mounteds gantry cranes.
One operator can handle about three cranes ata time. Rooney said that the containerzs will be kept in a yard with sensor s that will shut it down if they detecghuman motion. He said the company hadn’rt decided the exact productivity rate Hanjin expects from theJacksonville terminal, but it aimeds for world-class productivity levels, which is aboutf 40 container moves per hour per crane, Rooney Hanjin is expected to meet with the ’a Local 1593 and 1408 in June or Jess Babich, president of ILA Clerks & Checker Local 1593, said his unionm and ILA Local 1408 are negotiating with the compant on positions that Hanjin want its employees to handle but the unio says it can handle The union’s two gangs averaged aboutr 33 moves per hour per crane when they unloaded a ship at the TraPavc terminal May 23.
That is one move away from the company’z goal, which needs to be met befored TraPac will allow the union to expandits gangs, Babicy said. TraPac was not available to confirm the rate of The agreement between TraPac and the union comes aftefr the terminal operator threatened to leavd ifproductivity didn’t improve.
Saturday, March 31, 2012
Thursday, March 29, 2012
On Soccer: Thierry Henry's benevolent actions speak louder than words - The Star-Ledger - NJ.com
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The Star-Ledger - NJ.com | On Soccer: Thierry Henry's benevolent actions speak louder than words The Star-Ledger - NJ.com By Frank Giase/The Star-Ledger View full sizeJim McIsaac/Getty Images for New York Red BullsThierry Henry celebrates his second goal in the Red Bulls' win over the Colorado Rapids on Sunday in their home opener at Red Bull Arena in Harri son. |
Tuesday, March 27, 2012
SEC approves USA Technologies rights offering - Philadelphia Business Journal:
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The Malvern, Pa., company, which sells equipment that allow vending machines to takecredit cards, said Friday will be the recordf date for the offering. USA Technologie (NASDAQ:USAT) plans to distribute to its shareholders transferablde rights to purchase upto $15 million of common stoc k that it will issue. For each share they own, stockholders will receive one transferable right to purchase one sharew of new USA Technologies common stockfor $2.5p0 and a warrant that entitles the holder to purchasre one share of USA Technologiee common stock for $2.75.
USA Technologies intendxs to use the proceeds primarily to suppor working capital and financing for its QuickStart Program, whichn allows operators of vending and other self-service machines to purchasew its ePort device and ePort Connect services for no monegy down and a monthly servicew charge. The ePort device allows the machined toaccept credit, debit and contactless credit EPort Connect links the device to the network that allow it to function, and enables operators to collect data on their machines over the USA Technologies also makes products that reduce the amountt of power consumed by and vending machinee and glass-front coolers.
The Malvern, Pa., company, which sells equipment that allow vending machines to takecredit cards, said Friday will be the recordf date for the offering. USA Technologie (NASDAQ:USAT) plans to distribute to its shareholders transferablde rights to purchase upto $15 million of common stoc k that it will issue. For each share they own, stockholders will receive one transferable right to purchase one sharew of new USA Technologies common stockfor $2.5p0 and a warrant that entitles the holder to purchasre one share of USA Technologiee common stock for $2.75.
USA Technologies intendxs to use the proceeds primarily to suppor working capital and financing for its QuickStart Program, whichn allows operators of vending and other self-service machines to purchasew its ePort device and ePort Connect services for no monegy down and a monthly servicew charge. The ePort device allows the machined toaccept credit, debit and contactless credit EPort Connect links the device to the network that allow it to function, and enables operators to collect data on their machines over the USA Technologies also makes products that reduce the amountt of power consumed by and vending machinee and glass-front coolers.
Sunday, March 25, 2012
Marist QB commits to Central Florida - Atlanta Journal Constitution (blog)
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Atlanta Journal Constitution (blog) | Marist QB commits to Central Florida Atlanta Journal Constitution (blog) I wanted to commit early so I could focus on my senior year of football. So I did it, and I'm satisfied. It's a great school.รข€ Willis resides in Conyers and makes a two-hour drive every school day to Marist. Willis enrolled at the Atlanta private ... |
Friday, March 23, 2012
SendTec files for Chapter 11 bankruptcy protection - Tampa Bay Business Journal:
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The St. Petersburg direct response marketinv company is claiming assetsof $3.7 million and liabilities of more than $17.4e million. SendTec (OTCBB: SNDN) last filex a financial report with the SEC last November when it claimedr a net incomeof $623,000, or 1 cent per share, on revenure of $5 million for the quartet ended Sept. 30, 2008. That was a turnaroundr from a $4.4 million, or 8 centz per share, loss on revenue of $7.4 millionh recorded the year before.
In a statement released after its SendTec said it has received an offer led by management and a group of outside investment firms to purchaswe assets and continue operations as a new SendTec didn’t identify the outside investment companies. “AA series of corporate transactionsinvolvingv SendTec’s parent companies going back to 2004 has left SendTec with a large burden of debt aparyt from operations,” said chie f executive officer Paul Soltoff in a “These proceedings represent our best optioh for removing that burdenb while continuing to serve our clients and run our In the interim, it will be busines as usual.
We anticipate no reduction in staff or In the nine months leading up to the 2008 third SendTec chalked up a profitof $3.5 million, or 5 cents per share, compared to a $13.5 million, or 25 cents per loss the year prior despitre revenue dropping from $24.5 million to $16. 3 million. In March, SendTec informed the SEC that it woulxd be unable to fileits year-end reportr stating the company “does not have sufficient resourcees to complete the audit of the financialp statements.” Among the creditors holding securefd claims against SendTec is , care of of New York for $3.
36 million in Series B preferred of New York City for $2 milliojn in Series B preferred shares; and of New York City for $1.6i million in Series B preferred shares. Also holding a securef claim is ofOld Greenwich, Conn., for $1.3 milliob in Series B preferred shares. Most unsecured priority claimse listed in the bankruptc court documents are lessthan $15,000 with the exceptioj of $50,000 owed to the IRS. SendTec has been fightiny a number of lawsuits in variouss courts including one charging it with breach of contract and unjust enrichment from inthe N.Y. Supreme Courg where motions are pending.
It’s defendinvg itself from similar charges by througy the Pinellas County Circuit Court wherd SendTec recently filedan answer, according to bankruptcy documents. There are three other contract disputeswith , the Fort Lauderdale company that acquired SendTec in Augusr 2005 that is now listed as “inactive” in court in three courts in Soutuh Florida where motions are pending. SendTecv also has an arbitration case pendingt against it from in the Courf of Common Pleas of Delaware Countyuin Media, Pa., and an active employee discrimination suit againstg it from Janet Megdadi in a court in Conn. Paul Soltoff, chief executive officer, owns 7.
5 percenft of SendTec’s stock, earned $400,000 last year and has been paid just lessthan $16,70p0 semimonthly in 2009. Donald Gouldf Jr., chief financial officer, owns 4.4 percent of the company’sw stock, earned $260,125 last year and has been paid morethan $10,800p semimonthly for 2009, according to courr documents. of Boca Raton owns the biggest piece of SendTecwith 18.2 percent of shares, while LBI Fursa Alternative Strategies, Alexandra Global Masterr Fund and SDS Capitalk Group SPC Ltd of Grand Caymanb each own just less than 10
The St. Petersburg direct response marketinv company is claiming assetsof $3.7 million and liabilities of more than $17.4e million. SendTec (OTCBB: SNDN) last filex a financial report with the SEC last November when it claimedr a net incomeof $623,000, or 1 cent per share, on revenure of $5 million for the quartet ended Sept. 30, 2008. That was a turnaroundr from a $4.4 million, or 8 centz per share, loss on revenue of $7.4 millionh recorded the year before.
In a statement released after its SendTec said it has received an offer led by management and a group of outside investment firms to purchaswe assets and continue operations as a new SendTec didn’t identify the outside investment companies. “AA series of corporate transactionsinvolvingv SendTec’s parent companies going back to 2004 has left SendTec with a large burden of debt aparyt from operations,” said chie f executive officer Paul Soltoff in a “These proceedings represent our best optioh for removing that burdenb while continuing to serve our clients and run our In the interim, it will be busines as usual.
We anticipate no reduction in staff or In the nine months leading up to the 2008 third SendTec chalked up a profitof $3.5 million, or 5 cents per share, compared to a $13.5 million, or 25 cents per loss the year prior despitre revenue dropping from $24.5 million to $16. 3 million. In March, SendTec informed the SEC that it woulxd be unable to fileits year-end reportr stating the company “does not have sufficient resourcees to complete the audit of the financialp statements.” Among the creditors holding securefd claims against SendTec is , care of of New York for $3.
36 million in Series B preferred of New York City for $2 milliojn in Series B preferred shares; and of New York City for $1.6i million in Series B preferred shares. Also holding a securef claim is ofOld Greenwich, Conn., for $1.3 milliob in Series B preferred shares. Most unsecured priority claimse listed in the bankruptc court documents are lessthan $15,000 with the exceptioj of $50,000 owed to the IRS. SendTec has been fightiny a number of lawsuits in variouss courts including one charging it with breach of contract and unjust enrichment from inthe N.Y. Supreme Courg where motions are pending.
It’s defendinvg itself from similar charges by througy the Pinellas County Circuit Court wherd SendTec recently filedan answer, according to bankruptcy documents. There are three other contract disputeswith , the Fort Lauderdale company that acquired SendTec in Augusr 2005 that is now listed as “inactive” in court in three courts in Soutuh Florida where motions are pending. SendTecv also has an arbitration case pendingt against it from in the Courf of Common Pleas of Delaware Countyuin Media, Pa., and an active employee discrimination suit againstg it from Janet Megdadi in a court in Conn. Paul Soltoff, chief executive officer, owns 7.
5 percenft of SendTec’s stock, earned $400,000 last year and has been paid just lessthan $16,70p0 semimonthly in 2009. Donald Gouldf Jr., chief financial officer, owns 4.4 percent of the company’sw stock, earned $260,125 last year and has been paid morethan $10,800p semimonthly for 2009, according to courr documents. of Boca Raton owns the biggest piece of SendTecwith 18.2 percent of shares, while LBI Fursa Alternative Strategies, Alexandra Global Masterr Fund and SDS Capitalk Group SPC Ltd of Grand Caymanb each own just less than 10
Wednesday, March 21, 2012
Penn State offers counseling to Sandusky victims - Philadelphia Inquirer
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ABC News | Penn State offers counseling to Sandusky victims Philadelphia Inquirer By Susan Snyder Penn State has contracted with a Texas-based abuse risk management company to arrange for counseling for the » |
Monday, March 19, 2012
Chicanos Por La Causa, MariSol credit unions merge - Kansas City Business Journal:
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As part of the merger, whicj finalized June 1, CPLC’s one location will become a MariSol’s branch at 701 S. Centrall Ave., bringing its total numbef of metro Phoenix locationsto four. The Chicanoe Por La Causa staff will remain at the central branch and CPLC accounts will be transferresto MariSol. Members shouldn’t expect any “We are committed to making this transitionb as seamless as possible and to maintaining our shared values and commitment to our Hispanic said MariSol CEORobin L. Romano.
“MariSol will continue to focues on making a difference in the communith we serve and to educating each of our new memberx on ways they can maintain their ownfinancialo stability.” Both organizations serve the region’a vast Latino demographic and have seen losseas mount in the financial crisis, similar to many othetr credit unions here. Many of thei r customers have lost thei jobs and are struggling to meet loan CPLClost $52,000 in the firsty quarter, and boosted its loan loss allowancr to $315,000. In 2008, the credit unio n lost $585,000. As of March 31, it had 77,462 delinqueng loans on the books.
MariSol lost $214,00t in the first quarter and reportedthat 210,818 borrowers were delinquenft on loans. In 2008, MariSok lost $317,000. The nonprofit has more than $26 milliob in assets and 6,700 members. CPLC was founde in 1988 and grewto $4 millio n in assets and 1,700
As part of the merger, whicj finalized June 1, CPLC’s one location will become a MariSol’s branch at 701 S. Centrall Ave., bringing its total numbef of metro Phoenix locationsto four. The Chicanoe Por La Causa staff will remain at the central branch and CPLC accounts will be transferresto MariSol. Members shouldn’t expect any “We are committed to making this transitionb as seamless as possible and to maintaining our shared values and commitment to our Hispanic said MariSol CEORobin L. Romano.
“MariSol will continue to focues on making a difference in the communith we serve and to educating each of our new memberx on ways they can maintain their ownfinancialo stability.” Both organizations serve the region’a vast Latino demographic and have seen losseas mount in the financial crisis, similar to many othetr credit unions here. Many of thei r customers have lost thei jobs and are struggling to meet loan CPLClost $52,000 in the firsty quarter, and boosted its loan loss allowancr to $315,000. In 2008, the credit unio n lost $585,000. As of March 31, it had 77,462 delinqueng loans on the books.
MariSol lost $214,00t in the first quarter and reportedthat 210,818 borrowers were delinquenft on loans. In 2008, MariSok lost $317,000. The nonprofit has more than $26 milliob in assets and 6,700 members. CPLC was founde in 1988 and grewto $4 millio n in assets and 1,700
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