NBCNews.com | Eastwood's 'head-scratching' moment at the RNC NBCNews.com and done, republicans may have disagreed on how good the speech was, but if there was a universal feeling in the h » |
Friday, August 31, 2012
Eastwood's 'head-scratching' moment at the RNC - NBCNews.com
paramonaxogilozi.blogspot.com
Thursday, August 30, 2012
Human Capital: People on the move, June 2 - Puget Sound Business Journal (Seattle):
fixyruw.wordpress.com
Goodwin Procter's Budd elected vice chairman of AAA nationap board WayneBudd , senior counselk with the Boston law firm of and a membefr of the board of directord of , was elected vice chairman of AAA’d national board of directors. Turbine taps Paradowski as CFO , a Westwood-basedc online gaming technology company, appointed M. Beau Paradowski chiefg financial officer. Clough to run Leerink Swann's MEDACorl division Health care investment bank Leerink Swann of Boston appointed Brent Clough senior managing director and head of itsMEDACorp division. Prior to joining Leerink Clough was president and CEO of IntrinsiQLLC , an oncology software and data analytics firm.
promotes Stys as VP of marketinyg andbusiness dev. Shawmut Design and Constructio in Boston promoted BrianStys , a 16-year veteranm of the firm, to the newly-created role of vice president of marketingv and business development. The Protector Group Insurance Agencu adds Mullery as director of compliancer and wellness of Worcester added Laura Ann Mullery as director of compliancweand wellness. Mullery previously servedc as assistant vice president at in Boston and vice president of major accounts at Thorbahn Associatedin Quincy.
Goodwin Procter's Budd elected vice chairman of AAA nationap board WayneBudd , senior counselk with the Boston law firm of and a membefr of the board of directord of , was elected vice chairman of AAA’d national board of directors. Turbine taps Paradowski as CFO , a Westwood-basedc online gaming technology company, appointed M. Beau Paradowski chiefg financial officer. Clough to run Leerink Swann's MEDACorl division Health care investment bank Leerink Swann of Boston appointed Brent Clough senior managing director and head of itsMEDACorp division. Prior to joining Leerink Clough was president and CEO of IntrinsiQLLC , an oncology software and data analytics firm.
promotes Stys as VP of marketinyg andbusiness dev. Shawmut Design and Constructio in Boston promoted BrianStys , a 16-year veteranm of the firm, to the newly-created role of vice president of marketingv and business development. The Protector Group Insurance Agencu adds Mullery as director of compliancer and wellness of Worcester added Laura Ann Mullery as director of compliancweand wellness. Mullery previously servedc as assistant vice president at in Boston and vice president of major accounts at Thorbahn Associatedin Quincy.
Tuesday, August 28, 2012
New Cousins CEO encouraged about the market - Charlotte Business Journal:
tenamup.wordpress.com
"This isn't going to be a V-shape d recovery," Gellerstedt said Monday in an interviews with AtlantaBusiness Chronicle. we're going to see many opportunitiesto buy." who joined Cousins in will take over for current CEO Tom Bell on July 1. Bell, who turns 60 this announced his retirement to the company Monday Cousins is a storied Atlant a realestate developer. Founded in 1958 by Tom the company has been involved in some ofthe city'x biggest real estate projects, including the developmenft of the 55-story Bank of America Plazas in 1989. The market isn't providing the best timing for Gellerstedt.
He takes the helm during the nation'as worst real estate downturn in at leasya generation. While the market is showing some signsof improvement, it has nosediver from its peak in early 2007. Cousinas has one of the four new office towers under developmentgin Buckhead, a part of the city that absorbds about 350,000 to 500,000 square feet of office space annually. Office vacancy in Buckhead couldx surpass 30 percent by this timenext year, some commercia l real estate developers and broker s predict.
There are however, that the market is picking up, Bell and Gellerstedt For one, the gap between what investors are willingh to pay for properties and what owners are willing to sell them for continues to While that spread was 400 basizs points a fewmonths ago, it is closed to 100 points today, Bell said. Also, banks have a cleare picture of their capital levela than they did earlierthis year, and regulatorz are increasingly pushing them to deal some of their real estatd owned assets. Cousins (NYSE: CUZ) , posting net incomse of $164.2 million on $49 million in revenue.
At the end of the the company’s portfolio of operationalo office buildings was 90 percent its portfolio of operational retail centers was 83 perceng leased and its operationa industrial buildings were 40 percent Gellerstedt began his career in 1978 as an estimator and project managerwith , where he workeed on the High Museum and the AT&T Long Lines Building in At only 26, he founded , a Beers subsidiaryh that focused on health-care developments. Gellerstedt was later named Beers chairmanand CEO. Cousins acquirecd his firm, the , in June and he joined the company.
Gellersted t was one of the architects of turninfg around the fortunes of One Ninety One the 50-story downtown tower Cousins acquired in 2006. The improvementsd at One Ninety One have symbolized a retur n to prosperity for many partsof downtown, its economic boosters say. Shortly aftere Gellerstedt joined Cousins, One Ninety One had lost majorf tenantsand , and downtown Atlanta was suffering from the exodu s of those firms and others. Gellerstedt was instrumentap in the rejuvenation of One Ninety One, Bell said. "We basically gave this buildingyto Larry," Bell said.
"I remembee when we were walking through the atrium several years ago that there was nothing in It had thisecho effect. And I said to 'What are we going to about this echo?' And Larryh came right back and said, ‘I tell you what we're going to do. We'rew going to fill this atrium and thisbuilding It's a totally different building today." One Ninety One was nearly 90 percent leased at the beginnin g of the year. Cousins also landedc the Italian restaurant IlMulino Atlanta, which has also helped to revive the atrium. "Iu spent most of my careerd downtown," Gellerstedt said.
"I've always thought that One Ninetu One is atimeless
"This isn't going to be a V-shape d recovery," Gellerstedt said Monday in an interviews with AtlantaBusiness Chronicle. we're going to see many opportunitiesto buy." who joined Cousins in will take over for current CEO Tom Bell on July 1. Bell, who turns 60 this announced his retirement to the company Monday Cousins is a storied Atlant a realestate developer. Founded in 1958 by Tom the company has been involved in some ofthe city'x biggest real estate projects, including the developmenft of the 55-story Bank of America Plazas in 1989. The market isn't providing the best timing for Gellerstedt.
He takes the helm during the nation'as worst real estate downturn in at leasya generation. While the market is showing some signsof improvement, it has nosediver from its peak in early 2007. Cousinas has one of the four new office towers under developmentgin Buckhead, a part of the city that absorbds about 350,000 to 500,000 square feet of office space annually. Office vacancy in Buckhead couldx surpass 30 percent by this timenext year, some commercia l real estate developers and broker s predict.
There are however, that the market is picking up, Bell and Gellerstedt For one, the gap between what investors are willingh to pay for properties and what owners are willing to sell them for continues to While that spread was 400 basizs points a fewmonths ago, it is closed to 100 points today, Bell said. Also, banks have a cleare picture of their capital levela than they did earlierthis year, and regulatorz are increasingly pushing them to deal some of their real estatd owned assets. Cousins (NYSE: CUZ) , posting net incomse of $164.2 million on $49 million in revenue.
At the end of the the company’s portfolio of operationalo office buildings was 90 percent its portfolio of operational retail centers was 83 perceng leased and its operationa industrial buildings were 40 percent Gellerstedt began his career in 1978 as an estimator and project managerwith , where he workeed on the High Museum and the AT&T Long Lines Building in At only 26, he founded , a Beers subsidiaryh that focused on health-care developments. Gellerstedt was later named Beers chairmanand CEO. Cousins acquirecd his firm, the , in June and he joined the company.
Gellersted t was one of the architects of turninfg around the fortunes of One Ninety One the 50-story downtown tower Cousins acquired in 2006. The improvementsd at One Ninety One have symbolized a retur n to prosperity for many partsof downtown, its economic boosters say. Shortly aftere Gellerstedt joined Cousins, One Ninety One had lost majorf tenantsand , and downtown Atlanta was suffering from the exodu s of those firms and others. Gellerstedt was instrumentap in the rejuvenation of One Ninety One, Bell said. "We basically gave this buildingyto Larry," Bell said.
"I remembee when we were walking through the atrium several years ago that there was nothing in It had thisecho effect. And I said to 'What are we going to about this echo?' And Larryh came right back and said, ‘I tell you what we're going to do. We'rew going to fill this atrium and thisbuilding It's a totally different building today." One Ninety One was nearly 90 percent leased at the beginnin g of the year. Cousins also landedc the Italian restaurant IlMulino Atlanta, which has also helped to revive the atrium. "Iu spent most of my careerd downtown," Gellerstedt said.
"I've always thought that One Ninetu One is atimeless
Monday, August 27, 2012
Pact could lead to wind farms on federal land - Portland Business Journal:
qalymeled.wordpress.com
The federal-state partnership could prove to be crucia l as easily developable private land for wind farms becomesx scarce and developers look fornew sites. The BLM controles 15.5 million acres in Oregon, representing 22 percent of the state. “If we’r e going to tap the best wind it’s crucial we can permit and build onthesee sites,” said Arlo Corwin, the western regionn project development director for Houston-baseed LLC, the world’s fourth-largest wind developer.
“Thes true growth potential is in the BLM and with federal The memorandumof understanding, on the is little more than two bureaucracies agreeing to work Michael Campbell, a Portland-based spokesman for the BLM, said the collaboratioh is an effort to perform a joint environmentakl review process on wind energy projects, reprievinf developers whose projects cross both state and federa lands from enduring the process “You wouldn’t have a private company be 90 percent done with the BLM processesz and then the state says you have to go back to squares one and go through the state Campbell said.
Lou Torres, spokesman for the statw Departmentof Energy, said the memorandum is an acknowledgement that wind energyt developers will soon be casting an eye toward federal landsd as the best non-federal wind sites get pickeed over. Several wind energy advocates said federal land coulr be one of the next frontiers of development as the Columbiaw Gorgearea — Oregon’s epicentee for wind farm development grows more crowded with wind Interest is already on the rise. Therd are currently no active wind farms on BLM land in Oregon and Washington, and Horizonj Wind Energy has the only two development applications pending before the BLM in Oregon, Campbelkl said.
But the agency now has 15 applications pending for testing and monitorinbg on BLM lands in Oregonand Washington, and anotherd 11 applications seeking right-of-way access for wind energy projectas that may cross federal lands. An impetuds for the agreement was “knowing that we’ve alreadyt gotten a lot of applicationand we’re probably goingf to get a whole lot Campbell said. Corwin, of Horizom Wind Energy, said the federal land has its Wind power in the gorge peaksx inthe spring, while key wind BLM lands, particularly lands to the east and at certaib elevations, peak in the winter, providinbg a complement to the state’s existin wind capacity.
But there are also hurdles, most criticallyu the access totransmission lines. Aside from an abundance of the Columbia Gorge area has attracte wind farms thanks to its proximity to thefederal ’ds transmission system. Another obstacle is the Corwin said the BLM has proposed bufferseof 3-5 miles from sage-grouse mating effectively restricting development on two-thirds of BLM’z Oregon land, he said. Horizon is working closely with the state to devise a study to learn the impactas of wind towerson sage-grouse. “We’re not claiminb wind has no impact. We just don’r know,” Corwin said. “We need to study the impacg tobetter understand.
” Corwin said Horizon welcomes the BLM’s effort to ease the permitting process. But the compang is still waiting for the federapl government toissue permits. Nationally, BLM managesx 20.6 million acres of public land with windenergyt potential. But the agency’s Lands and Realtyu Management program has approved just 25 project s with a capacity of 327 megawatts of By comparison, Oregon has more than 1,067 megawatts of capacituy with another 250 megawatts under construction, placing it seventh in the according to the , a trader group. “I think the intent is there, but the proof is in the Corwin said.
“If you look around, how many productss have been permitted in federal land rather thanprivate lands?”
The federal-state partnership could prove to be crucia l as easily developable private land for wind farms becomesx scarce and developers look fornew sites. The BLM controles 15.5 million acres in Oregon, representing 22 percent of the state. “If we’r e going to tap the best wind it’s crucial we can permit and build onthesee sites,” said Arlo Corwin, the western regionn project development director for Houston-baseed LLC, the world’s fourth-largest wind developer.
“Thes true growth potential is in the BLM and with federal The memorandumof understanding, on the is little more than two bureaucracies agreeing to work Michael Campbell, a Portland-based spokesman for the BLM, said the collaboratioh is an effort to perform a joint environmentakl review process on wind energy projects, reprievinf developers whose projects cross both state and federa lands from enduring the process “You wouldn’t have a private company be 90 percent done with the BLM processesz and then the state says you have to go back to squares one and go through the state Campbell said.
Lou Torres, spokesman for the statw Departmentof Energy, said the memorandum is an acknowledgement that wind energyt developers will soon be casting an eye toward federal landsd as the best non-federal wind sites get pickeed over. Several wind energy advocates said federal land coulr be one of the next frontiers of development as the Columbiaw Gorgearea — Oregon’s epicentee for wind farm development grows more crowded with wind Interest is already on the rise. Therd are currently no active wind farms on BLM land in Oregon and Washington, and Horizonj Wind Energy has the only two development applications pending before the BLM in Oregon, Campbelkl said.
But the agency now has 15 applications pending for testing and monitorinbg on BLM lands in Oregonand Washington, and anotherd 11 applications seeking right-of-way access for wind energy projectas that may cross federal lands. An impetuds for the agreement was “knowing that we’ve alreadyt gotten a lot of applicationand we’re probably goingf to get a whole lot Campbell said. Corwin, of Horizom Wind Energy, said the federal land has its Wind power in the gorge peaksx inthe spring, while key wind BLM lands, particularly lands to the east and at certaib elevations, peak in the winter, providinbg a complement to the state’s existin wind capacity.
But there are also hurdles, most criticallyu the access totransmission lines. Aside from an abundance of the Columbia Gorge area has attracte wind farms thanks to its proximity to thefederal ’ds transmission system. Another obstacle is the Corwin said the BLM has proposed bufferseof 3-5 miles from sage-grouse mating effectively restricting development on two-thirds of BLM’z Oregon land, he said. Horizon is working closely with the state to devise a study to learn the impactas of wind towerson sage-grouse. “We’re not claiminb wind has no impact. We just don’r know,” Corwin said. “We need to study the impacg tobetter understand.
” Corwin said Horizon welcomes the BLM’s effort to ease the permitting process. But the compang is still waiting for the federapl government toissue permits. Nationally, BLM managesx 20.6 million acres of public land with windenergyt potential. But the agency’s Lands and Realtyu Management program has approved just 25 project s with a capacity of 327 megawatts of By comparison, Oregon has more than 1,067 megawatts of capacituy with another 250 megawatts under construction, placing it seventh in the according to the , a trader group. “I think the intent is there, but the proof is in the Corwin said.
“If you look around, how many productss have been permitted in federal land rather thanprivate lands?”
Sunday, August 26, 2012
2009 WNY middle school rankings - Silicon Valley / San Jose Business Journal:
retention-jackjacks.blogspot.com
Profiles of the top 25 schools can be reachedc by clicking on the names of thoseschool below. A breakdown of the rankings for each sectiomn of Western New York can be accessedby . The followint abbreviations havebeen used: CS-Charter School, EMS-Elementary-Middlwe School, ES-Elementary School, HS-High School, IS-Intermediatre School, JHS-Junior High School, JSHS-Junior-Senior High School, MHS-Middle-High School, MS-Middlde School, PS-Primary School, SHS-Senior High VHS-Vocational High School. Each school is followed by the name of the districtt that operatesit (if it’s a publid school) or the district where it is located (if it’w a private school). 1. • 2. 3. • 4.
• 5. • 6. • 7. 8. • 9. • 10. • 11. • 12. 13. • 14. • 15.
Profiles of the top 25 schools can be reachedc by clicking on the names of thoseschool below. A breakdown of the rankings for each sectiomn of Western New York can be accessedby . The followint abbreviations havebeen used: CS-Charter School, EMS-Elementary-Middlwe School, ES-Elementary School, HS-High School, IS-Intermediatre School, JHS-Junior High School, JSHS-Junior-Senior High School, MHS-Middle-High School, MS-Middlde School, PS-Primary School, SHS-Senior High VHS-Vocational High School. Each school is followed by the name of the districtt that operatesit (if it’s a publid school) or the district where it is located (if it’w a private school). 1. • 2. 3. • 4.
• 5. • 6. • 7. 8. • 9. • 10. • 11. • 12. 13. • 14. • 15.
Friday, August 24, 2012
Oahu home prices back on top - Pacific Business News (Honolulu):
grachevakautawil.blogspot.com
Yet, the primary risk to Oahu’s housing market is stilol “what happens to jobs,” Bonham “When people’s income goes down, or they lose their they’re being forced to throw their house onthe market,” he That, coupled with adjustable interest ratez that are adjusting upwards, could causw Honolulu to see its foreclosure rate continue to he said. While Hawaii did not see the huge numbere of foreclosures that crashed manyMainland markets, the state was ranked 14th in the nationb in the number of foreclosurer starts during the first quarter, according to the Mortgages Bankers Association’s National Delinquency “For us, the primargy reason for foreclosures is going to be job loss and incomw loss, and adjustable rates,” Bonham said, notin that a lot of foreclosures on the Mainlandx were due to adjusting interest rates.
“Our cyclse was later so we had more of them to work And foreclosures will put more downward pressureon prices, he UHERO has forecast a drop in home prices of 9 percent in 2009 and another 5 percent in predictions that are driven largely by the job Since the forecast was released in earlgy March, the outlook for job growth for the statde has worsened. “With the additional problems of thefiscap crisis, the outlook has worsenes again, and the home price forecast will go down Bonham said, referring to the state’s projected budgett shortfalls over the next two Despite that, Honolulu will likely keep its distinction as the most expensivew place to buy a since California’s priciest markets are unlikely to see any type of a he said.
Yet, the primary risk to Oahu’s housing market is stilol “what happens to jobs,” Bonham “When people’s income goes down, or they lose their they’re being forced to throw their house onthe market,” he That, coupled with adjustable interest ratez that are adjusting upwards, could causw Honolulu to see its foreclosure rate continue to he said. While Hawaii did not see the huge numbere of foreclosures that crashed manyMainland markets, the state was ranked 14th in the nationb in the number of foreclosurer starts during the first quarter, according to the Mortgages Bankers Association’s National Delinquency “For us, the primargy reason for foreclosures is going to be job loss and incomw loss, and adjustable rates,” Bonham said, notin that a lot of foreclosures on the Mainlandx were due to adjusting interest rates.
“Our cyclse was later so we had more of them to work And foreclosures will put more downward pressureon prices, he UHERO has forecast a drop in home prices of 9 percent in 2009 and another 5 percent in predictions that are driven largely by the job Since the forecast was released in earlgy March, the outlook for job growth for the statde has worsened. “With the additional problems of thefiscap crisis, the outlook has worsenes again, and the home price forecast will go down Bonham said, referring to the state’s projected budgett shortfalls over the next two Despite that, Honolulu will likely keep its distinction as the most expensivew place to buy a since California’s priciest markets are unlikely to see any type of a he said.
Thursday, August 23, 2012
Build a sustainable future - Boston Business Journal:
lehoquvuhu.wordpress.com
Everyone can agree that the system operating before the crisie has provedunsustainable — a fact underscored by news that the earnings of the Fortune 500 fell by 85 percent in 2008. As General Electric’s CEO observed in his receny letterto shareholders, the global economic crisi is not simply part of the businesxs cycle; it is insteadd a “reset.” “The interaction betweeb government and business will change forever,” Jeff Immelr stated. “In a reset economy, the governmen t will be a and also an industrypolicy champion, a and a key partner.
” For our “resegt economy” to succeed, it must prove more sustainable economically, socially and environmentally — than what came beforde it. It is critically important thatour “resetf economy” does not squelchn the entrepreneurial dynamism that has helped America’sd rise. The vast majority of America’d entrepreneurs had no role in trading highly leverageds credit default obligations or securitizing subprime They were working tirelessly to inventhe companies, technologies and formxs of business the world needs to develop a more sustainabl economy.
Consequently, it is critically important for the leadersof America’sx robust innovation economy to work with policymakerd to intelligently regulate markets to make them economically, socially and environmentallg more sustainable. They must help creatde an economy that does not underprice either financia orenvironmental risk, especially when that risk poses a systemic They must help create an economuy that more accurately reflects both the costzs of the finite natural resources used and the pollutio n created. Finally, they must help creatr an economy that puts human prospect and purpose at its centefr by investing in human andsociaol capital. There are two undeniable facts ofour age.
economic growth can be sustained over time only if it is done in a way that benefit s society andthe environment. Second, our society and environment will be impoverisheeif America’s entrepreneurs and business innovatiojn leaders are not enlisted in the global challengd to invent a more sustainabl e economy — a challenge that America is exceptionally well suited to lead. To address this globall challenge, entrepreneurs and business innovatorss should consider following the lead of the Progressive BusinesswLeaders Network.
The PBLN is a community of CEOs and executivea united by shared commitmentg to greater social and environmental responsibility and the public policiexs thatadvance it. We must inven a more sustainable economt built from a more sustainablesociet — by which our new economy will itself be Investing in this sustainable future is a cultural, commercial and politicall challenge that must be
Everyone can agree that the system operating before the crisie has provedunsustainable — a fact underscored by news that the earnings of the Fortune 500 fell by 85 percent in 2008. As General Electric’s CEO observed in his receny letterto shareholders, the global economic crisi is not simply part of the businesxs cycle; it is insteadd a “reset.” “The interaction betweeb government and business will change forever,” Jeff Immelr stated. “In a reset economy, the governmen t will be a and also an industrypolicy champion, a and a key partner.
” For our “resegt economy” to succeed, it must prove more sustainable economically, socially and environmentally — than what came beforde it. It is critically important thatour “resetf economy” does not squelchn the entrepreneurial dynamism that has helped America’sd rise. The vast majority of America’d entrepreneurs had no role in trading highly leverageds credit default obligations or securitizing subprime They were working tirelessly to inventhe companies, technologies and formxs of business the world needs to develop a more sustainabl economy.
Consequently, it is critically important for the leadersof America’sx robust innovation economy to work with policymakerd to intelligently regulate markets to make them economically, socially and environmentallg more sustainable. They must help creatde an economy that does not underprice either financia orenvironmental risk, especially when that risk poses a systemic They must help create an economuy that more accurately reflects both the costzs of the finite natural resources used and the pollutio n created. Finally, they must help creatr an economy that puts human prospect and purpose at its centefr by investing in human andsociaol capital. There are two undeniable facts ofour age.
economic growth can be sustained over time only if it is done in a way that benefit s society andthe environment. Second, our society and environment will be impoverisheeif America’s entrepreneurs and business innovatiojn leaders are not enlisted in the global challengd to invent a more sustainabl e economy — a challenge that America is exceptionally well suited to lead. To address this globall challenge, entrepreneurs and business innovatorss should consider following the lead of the Progressive BusinesswLeaders Network.
The PBLN is a community of CEOs and executivea united by shared commitmentg to greater social and environmental responsibility and the public policiexs thatadvance it. We must inven a more sustainable economt built from a more sustainablesociet — by which our new economy will itself be Investing in this sustainable future is a cultural, commercial and politicall challenge that must be
Tuesday, August 21, 2012
Audi Q3 2.0 TDI 140 Attraction contre Peugeot 3008 2.0 HDi 150 Allure - L'Automobile Magazine
ykyhola.blogspot.com
Audi Q3 2.0 TDI 140 Attraction contre Peugeot 3008 2.0 HDi 150 Allure L'Automobile Magazine ... Croatie : www.auto-motor-i-sport.com · www.auto7.cz; Pologne : www.auto-motor-i-sport.pl; Roumanie : www.auto-motor-si-sport.ro; Ukraine : www.motornews.ua; Grèce : www.ams.gr; Norvège : www.automotorsport.no; Suède : www.automotorsport.se ... |
Monday, August 20, 2012
Two more leave BofA board - Dallas Business Journal:
humojo.wordpress.com
According to a filing with the Securities and Exchange Commission, Prueher and Frank didn’t resign because of any disagreement with the company. Jackie Ward and Patricia Mitchell resigned early this Mitchell is a former New York television executivd and currently serves as chief executive of the Paleh Centerfor Media, a New York nonprofit. Ward is the retired chief executiveof Atlanta-based Computer Generation a software company. Robert Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resignede from the BofA board effectiveMay 29. And on May 29, the bank announcedx former lead independentdirector O. Temple Sloam had left the board.
BofA didn’t disclosw Sloan’s reason for resignation. Sloan had been a BofA director for13 years. In earluy June, four outside directors were electedto BofA’s board. They are forme r Federal Reserve GovernorSusan Bies, former Compasa Bancshares Inc. chief executive and chairman D. Paul Jones, former Federal Deposit Insurance Corp. chairman Donald Powellk and retired BankOne Corp. and Visa International Inc. executivre William Boardman. BofA’s board has been underf intense scrutiny in recent months as the bank suffereds through asharp stock-price declinee after acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayet aid.
At the bank’s annual meetinv in late April, shareholderse voted to strip Chief Executivwe Kenneth Lewis of his position asboarrd chairman. Walter Massey was installed as the new chairma and has indicated the board needs tobe re-evaluated. Lewis remains the bank’s CEO and
According to a filing with the Securities and Exchange Commission, Prueher and Frank didn’t resign because of any disagreement with the company. Jackie Ward and Patricia Mitchell resigned early this Mitchell is a former New York television executivd and currently serves as chief executive of the Paleh Centerfor Media, a New York nonprofit. Ward is the retired chief executiveof Atlanta-based Computer Generation a software company. Robert Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resignede from the BofA board effectiveMay 29. And on May 29, the bank announcedx former lead independentdirector O. Temple Sloam had left the board.
BofA didn’t disclosw Sloan’s reason for resignation. Sloan had been a BofA director for13 years. In earluy June, four outside directors were electedto BofA’s board. They are forme r Federal Reserve GovernorSusan Bies, former Compasa Bancshares Inc. chief executive and chairman D. Paul Jones, former Federal Deposit Insurance Corp. chairman Donald Powellk and retired BankOne Corp. and Visa International Inc. executivre William Boardman. BofA’s board has been underf intense scrutiny in recent months as the bank suffereds through asharp stock-price declinee after acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayet aid.
At the bank’s annual meetinv in late April, shareholderse voted to strip Chief Executivwe Kenneth Lewis of his position asboarrd chairman. Walter Massey was installed as the new chairma and has indicated the board needs tobe re-evaluated. Lewis remains the bank’s CEO and
Sunday, August 19, 2012
Region's hospitals finding new ways to survive - Business Courier of Cincinnati:
viningocouqyl1601.blogspot.com
In some cases, the economy is givint them trouble. In other it's politics and infighting. Currentlu in the market for a buyer or affiliationj partnerare Deaconess, Clinton Memorial and Brown County Generalk hospitals. Fort Hamilton Hospital is likely to jointhem For-profit corporations from Nashville may even enter the a major departure for a Tri-State hospital markety that has long been controlled by nonprofits. The recenrt shifts continue several years of turmoil in Greater Cincinnatihealth care: Could change handsx as its owner, the Jewishu Foundation of Cincinnati, seeks to get out of the hospita business.
One possibility is that the Healtu Alliance, of which it is a could buy the hospital. That woulfd make Jewish a property insteadr of avoting member, puttingh the Kenwood-based hospital on par with the Drake Centedr and the West Chester Medical Centerf as facilities fully owne by the Health Alliance Could leavr the Health Alliance, based on what happens with Jewisbh Hospital. Fort Hamilton’s board doesn’t want to shoulder more which it fears would be the case shouldd Jewishbe sold. If it separates, Fort Hamilton will look to join anothehospital system. Withdrew from the Health claiming underinvestment by thehospital group.
Christ begahn operating independently in2008 and, following nearly three years of legal battles, the parties reachedd a financial settlement in January 2009. St. Luke Hospitals Begaj trying to withdraw from the Health Alliance soon after Christ Hospital said it would and onsimilar grounds, claiming the Health Alliance’s focus was The parties reached a settlement in September 2008. The two St. Luke Hospitale completed a mergerwith St. Elizabeth Medical Center — now St. Elizabethu Healthcare — in October 2008. Became part of the Healtjh Alliancein 2006.
which specializes in neck, spine trauma and other medicallygcomplex cases, had been affiliated with Hamilton County and the Universit of Cincinnati and had lost millions each year. It’s working to be financially viable, even as a county tax which provides itnearly $11 million a year for operationao support, winds down this year. Has lost money for several years and is now seeking a Inearly June, a spokeswoman said the hospital had receiveds several responses, from both nonprofits and to a request-for-proposals it distributed seeking a partnet or buyer. It’s considering options.
A plan last year to becomer a joint venture with physicians was abandoned when too few doctors signed up. Is seeking the help of a larger partner. So far it has looked only at affiliating with regional nonprofithospitalp systems. Job cuts at the Wilmingtoj Air Park are takinh their toll onthe county-ownede hospital. The Clinton Memorial’s CEO recently said that year-to-date, it’s $211,000 in the red. Is lookingt for a partner or It attracted little interest from regiona nonprofits and recently openedx the doorto for-profiy companies. The county-owned hospital has a cash shortagew andlost $2.5 million last year.
In some cases, the economy is givint them trouble. In other it's politics and infighting. Currentlu in the market for a buyer or affiliationj partnerare Deaconess, Clinton Memorial and Brown County Generalk hospitals. Fort Hamilton Hospital is likely to jointhem For-profit corporations from Nashville may even enter the a major departure for a Tri-State hospital markety that has long been controlled by nonprofits. The recenrt shifts continue several years of turmoil in Greater Cincinnatihealth care: Could change handsx as its owner, the Jewishu Foundation of Cincinnati, seeks to get out of the hospita business.
One possibility is that the Healtu Alliance, of which it is a could buy the hospital. That woulfd make Jewish a property insteadr of avoting member, puttingh the Kenwood-based hospital on par with the Drake Centedr and the West Chester Medical Centerf as facilities fully owne by the Health Alliance Could leavr the Health Alliance, based on what happens with Jewisbh Hospital. Fort Hamilton’s board doesn’t want to shoulder more which it fears would be the case shouldd Jewishbe sold. If it separates, Fort Hamilton will look to join anothehospital system. Withdrew from the Health claiming underinvestment by thehospital group.
Christ begahn operating independently in2008 and, following nearly three years of legal battles, the parties reachedd a financial settlement in January 2009. St. Luke Hospitals Begaj trying to withdraw from the Health Alliance soon after Christ Hospital said it would and onsimilar grounds, claiming the Health Alliance’s focus was The parties reached a settlement in September 2008. The two St. Luke Hospitale completed a mergerwith St. Elizabeth Medical Center — now St. Elizabethu Healthcare — in October 2008. Became part of the Healtjh Alliancein 2006.
which specializes in neck, spine trauma and other medicallygcomplex cases, had been affiliated with Hamilton County and the Universit of Cincinnati and had lost millions each year. It’s working to be financially viable, even as a county tax which provides itnearly $11 million a year for operationao support, winds down this year. Has lost money for several years and is now seeking a Inearly June, a spokeswoman said the hospital had receiveds several responses, from both nonprofits and to a request-for-proposals it distributed seeking a partnet or buyer. It’s considering options.
A plan last year to becomer a joint venture with physicians was abandoned when too few doctors signed up. Is seeking the help of a larger partner. So far it has looked only at affiliating with regional nonprofithospitalp systems. Job cuts at the Wilmingtoj Air Park are takinh their toll onthe county-ownede hospital. The Clinton Memorial’s CEO recently said that year-to-date, it’s $211,000 in the red. Is lookingt for a partner or It attracted little interest from regiona nonprofits and recently openedx the doorto for-profiy companies. The county-owned hospital has a cash shortagew andlost $2.5 million last year.
Friday, August 17, 2012
Mitt Romney likes Medicare Advantage - Tucson Citizen
iqukikofor.wordpress.com
CBC.ca | Mitt Romney likes Medicare Advantage Tucson Citizen Yesterday, Mitt Romney did his white board presentation comparing President Obama's plans for Medicare to his own. Romney painted a bleak picture of Medicare under Obama, and offered his own vision for the program that provides health insurance to 48 ... Aderholt likes Ryan CNN's GUT CHECK for August 17, 2012 Paul Ryan's Facebook explosion, Soft Barack, a Special This Week on the US ... |
Thursday, August 16, 2012
Stop acting like a salesperson; start acting like a consultant - Sacramento Business Journal:
afyfojahejus.blogspot.com
Why do we ask questions? Here are some of the • So we fully understand the prospect’zs needs and “hot • So when we present our solutiona they match what our prospect s said was important and they feel yourws is acustom solution. • To get beyond the initia l reason why they needthe product. To make prospects feel like they are a part of thebuyinbg decision. When they are talking, they are beginninyg to sell themselves. So what questionws should we ask? That has a lot to do with what you have learneed about the prospect before you tryto them. You need to learn something about the the decision-makers, etc. before callint on them. That’s prettty easy.
Use their Web Google, any of the social networks, then when you call them you have somethin g with which to beginthe conversation. The most important thing about asking questions is that theyare open-ended and thought provoking. Here are some examples of questions that may or may notbe • How has the economy affected your company and the ways you are making decisions now compareed with last year? • I noticed on your Web site that you will be launchingy a new product. Can you tell me about that?? • I read that your industry is goingt through changes when it comesto financing.
Can you sharr with me how that will affect yourorganization • If it was May 2010 and you said you just had a very successfup year, what would have happened? • Let’s pretend we worked together this past A year later you said the relationship was a positive one. What does that look like ? • What do the next five years look like for yourorganization • What differentiates you from your competitors? • What are you most proud of? I wouldn’t ask all of thesed questions all of the time. They are Certainly, more specific questionz are appropriateas well, but it is important to fully understand the big picture.
If you take time to learm more aboutthe prospect, you may learn aboutf some additional needs they might have. A consultant and salespersom are really the same with onlyone difference; a consultant is paid up fron and a salesperson is paid in the end. So act like a consultanty and you will selllots
Why do we ask questions? Here are some of the • So we fully understand the prospect’zs needs and “hot • So when we present our solutiona they match what our prospect s said was important and they feel yourws is acustom solution. • To get beyond the initia l reason why they needthe product. To make prospects feel like they are a part of thebuyinbg decision. When they are talking, they are beginninyg to sell themselves. So what questionws should we ask? That has a lot to do with what you have learneed about the prospect before you tryto them. You need to learn something about the the decision-makers, etc. before callint on them. That’s prettty easy.
Use their Web Google, any of the social networks, then when you call them you have somethin g with which to beginthe conversation. The most important thing about asking questions is that theyare open-ended and thought provoking. Here are some examples of questions that may or may notbe • How has the economy affected your company and the ways you are making decisions now compareed with last year? • I noticed on your Web site that you will be launchingy a new product. Can you tell me about that?? • I read that your industry is goingt through changes when it comesto financing.
Can you sharr with me how that will affect yourorganization • If it was May 2010 and you said you just had a very successfup year, what would have happened? • Let’s pretend we worked together this past A year later you said the relationship was a positive one. What does that look like ? • What do the next five years look like for yourorganization • What differentiates you from your competitors? • What are you most proud of? I wouldn’t ask all of thesed questions all of the time. They are Certainly, more specific questionz are appropriateas well, but it is important to fully understand the big picture.
If you take time to learm more aboutthe prospect, you may learn aboutf some additional needs they might have. A consultant and salespersom are really the same with onlyone difference; a consultant is paid up fron and a salesperson is paid in the end. So act like a consultanty and you will selllots
Wednesday, August 15, 2012
Pfeiffer University gets $1M - Charlotte Business Journal:
uvepexatawus.blogspot.com
White, who served nearluy three decades as president of First Federal Savings Bankof Winston-Salek and continued working with the financial institutioh through mergers with Southern National Bank and BB&T was a longtime advocate for the “This is such a transformational gift,” says Pfeiffef President Chuck Ambrose. “It is a way for Pfeiffer to bettet manage through the economic storm and provides a senss of financial confidence that allows us to continuew to improve ouracademic “Additionally, because of the expense associatedr with higher education, scholarships and financiakl resources have become essential elements in the questr to recruit and retaijn talented students.
The generous gift given by the Whit e estate ensures gifted students will have the benefig ofthe unique, servant leadership based education for which Pfeiffer has long been Pfeiffer, based in the Stanly County town of Misenheimer, offers graduatr and undergraduate degrees. The which has satellite facilities in was establishedin 1885.
White, who served nearluy three decades as president of First Federal Savings Bankof Winston-Salek and continued working with the financial institutioh through mergers with Southern National Bank and BB&T was a longtime advocate for the “This is such a transformational gift,” says Pfeiffef President Chuck Ambrose. “It is a way for Pfeiffer to bettet manage through the economic storm and provides a senss of financial confidence that allows us to continuew to improve ouracademic “Additionally, because of the expense associatedr with higher education, scholarships and financiakl resources have become essential elements in the questr to recruit and retaijn talented students.
The generous gift given by the Whit e estate ensures gifted students will have the benefig ofthe unique, servant leadership based education for which Pfeiffer has long been Pfeiffer, based in the Stanly County town of Misenheimer, offers graduatr and undergraduate degrees. The which has satellite facilities in was establishedin 1885.
Monday, August 13, 2012
Cancer deaths less common in people taking aspirin daily, study shows - CBS News
youngmanmeledero1636.blogspot.com
CBS News | Cancer deaths less common in people taking aspirin daily, study shows CBS News The study, published August 10 in the Journal of the National Cancer Institute looked at 100000 people - mostly elderly - and found those who reported daily aspirin use were 16 percent less likely to die from cancer, compared with people who don't take .. . Aspirin's effect on cancer death risk stirs questions Daily Aspirin May Reduce Risk of Cancer Death Daily Aspirin Dose Cuts Cancer Risk, New Study Says |
Sunday, August 12, 2012
Two companies pull out of FutureGen - Dayton Business Journal:
jiqatili.wordpress.com
billion coal-fueled experimental power plantin Mattoon, Ill. Columbus-baseds Inc. and Atlanta-based , two of the nation’s largesr emitters of carbon dioxide, told the Reuters news service that they were pullingh out ofthe alliance. Both companies pointedd to concernsabout cost. St. Louis-based , however, said it is still involved withthe "Peabody remains a strong advocate of FutureGe as a much-needed, high-profilee project to commercialize near-zero emissions technologies," said Vic Peabody's senior vice president of investoer relations and communications, in a statement.
"Peabodty is proud to be a founding member of the Allianced and will continue to collaboratd with partners and the federal government to advance this projecf to thefinish line." The FutureGen Alliancre was once comprised 13 companies, a number that has changerd several times, according to U.S. Sen. Dick D-Ill., a major proponent of the project. “Ther alliance has lost and added new partner several times since it was first formedf and as the project evolvea over the nextsix months, I believe the alliance will continue to grow in membership, in strength and in theirt partnership with the ( he said in a statement.
The proposes plant with the preliminary backing of the DOE and the allocatiohof $1 billion in stimulusz money. The alliance and President Baracj Obama’s Energy Secretary, Steven Chu, this month to restart plans for preliminarydesign activities, final cost estimate analysis and funding for the which stalled under the Bush administration. Durbin successfully pushed to in the federal stimulus packagde that could help pay for the He said he also securedanother $100 million in appropriations funding.
The rest of the project’s prics tag is expected to come from private fundinvg fromthe alliance’s member "The DOE's recent announcement to offer funding support is generatingt renewed interest and enthusiasm in the project, and we are continuingy discussions with new potential partners," Svec said. Supporterr say FutureGen would and 150permanent
billion coal-fueled experimental power plantin Mattoon, Ill. Columbus-baseds Inc. and Atlanta-based , two of the nation’s largesr emitters of carbon dioxide, told the Reuters news service that they were pullingh out ofthe alliance. Both companies pointedd to concernsabout cost. St. Louis-based , however, said it is still involved withthe "Peabody remains a strong advocate of FutureGe as a much-needed, high-profilee project to commercialize near-zero emissions technologies," said Vic Peabody's senior vice president of investoer relations and communications, in a statement.
"Peabodty is proud to be a founding member of the Allianced and will continue to collaboratd with partners and the federal government to advance this projecf to thefinish line." The FutureGen Alliancre was once comprised 13 companies, a number that has changerd several times, according to U.S. Sen. Dick D-Ill., a major proponent of the project. “Ther alliance has lost and added new partner several times since it was first formedf and as the project evolvea over the nextsix months, I believe the alliance will continue to grow in membership, in strength and in theirt partnership with the ( he said in a statement.
The proposes plant with the preliminary backing of the DOE and the allocatiohof $1 billion in stimulusz money. The alliance and President Baracj Obama’s Energy Secretary, Steven Chu, this month to restart plans for preliminarydesign activities, final cost estimate analysis and funding for the which stalled under the Bush administration. Durbin successfully pushed to in the federal stimulus packagde that could help pay for the He said he also securedanother $100 million in appropriations funding.
The rest of the project’s prics tag is expected to come from private fundinvg fromthe alliance’s member "The DOE's recent announcement to offer funding support is generatingt renewed interest and enthusiasm in the project, and we are continuingy discussions with new potential partners," Svec said. Supporterr say FutureGen would and 150permanent
Friday, August 10, 2012
The Secret Recipe for Funding Hate Groups: 5 Simple Facts About Chick-fil-A - Huffington Post
grachevakautawil.blogspot.com
The Secret Recipe for Funding Hate Groups: 5 Simple Facts About Chick-fil-A Huffington Post It should not surprise anyone that a company that sells chicken using cows would also claim to be a Christian-principled family business and then take profits to fund hate groups. The real issue at hand is not freedom of speech or same-sex marriage but ... |
Social Barrel | You Can Now Configure Your MacBook Pro Retina In Any Way You Want Gizmodo You Can Now Configure Your MacBook Pro Retina In Any Way You Want This is great news! Instead of having to deal with Apple pre-configured MacBook Pro Retina options, now you can freely configure your machine in any way you want. Processor ... You Can Now Config ure Your Retina Display MacBook Pro Any Way You Want MacBook Pro with Retina display gets full configuration options, even at base ... Retina MacBook Pro ship times are now under a week, but why two build options? |
Sunday, August 5, 2012
PHOTOS: 'Happy Trails' at Groundbreaking Ceremony in Broadneck - Patch.com
tarpleypymibujuh1491.blogspot.com
PHOTOS: 'Happy Trails' at Groundbreaking Ceremony in Broadneck Patch.com Credit D. Frank Smith http://o5.aolcdn.com/dims-shared/dims3/PATCH/resize/273x203/http://hss-prod.hss.aol.com/hss/storage/patch/4a908f04e98a29b03717a88ca78ba328 http://o4.aolcdn.com/hss/storage/patch/7611fe246661d408f0b56d16d93e6435 ... |
Saturday, August 4, 2012
IRC, FHWA gear up for Materials Conference - Modern Tire Dealer
lebexab.wordpress.com
IRC, FHWA gear up for Materials Conference Modern Tire Dealer FHWA is partnering with the non-profit Industrial Resources Council (IRC) to provide this forum for highway engineers to describe best practices in the use of high volume recycled materials in sustainable pavement systems. “DOT's and other project ... |
Thursday, August 2, 2012
Overbrook Farm to sell off most of its horses - Pacific Business News (Honolulu):
stockdaleiqemico1521.blogspot.com
plans to sell off its Thoroughbred breeding stock and most of its horseesin training, starting at Kenneland’s yearling sale in September. “Overd a period of more than 30 yearz my father developed Overbrook Farm into one of the most successful and respected breeding operations inthe world,” said owner Bill Yount Jr. in a news release. “The decision to disperswe is a personal one that came afterf a great dealof thought.
I simply don’tt have the passion for the thoroughbred spor t that myfather did, despite my respect for the Overbrook champions include 1996 Kentucky Derbu winner Grindstone, 1999 Breeder’s Cup Classi c winner Cat Thief, dual classic winner Tabasco Cat, Preaknesas Stakes winner Timber Country and Belmont Stakes winner Editor’d Note. The dispersal will include abouf200 horses. The farm will continue as a small raciny stable under the directionof Young’s son, Chris Young. “Ou r goal is to lease the farm as aThoroughbrerd operation,” Bill Young said in the release. The yearlingsa will be sold at Keeneland’s September Sale, which begins Sept. 14.
The weanlings, broodmares and horsesa of racing age will be sold during the Novembedr BreedingStock Sale, and the dispersaol will continue during the January Horses of All Ages
plans to sell off its Thoroughbred breeding stock and most of its horseesin training, starting at Kenneland’s yearling sale in September. “Overd a period of more than 30 yearz my father developed Overbrook Farm into one of the most successful and respected breeding operations inthe world,” said owner Bill Yount Jr. in a news release. “The decision to disperswe is a personal one that came afterf a great dealof thought.
I simply don’tt have the passion for the thoroughbred spor t that myfather did, despite my respect for the Overbrook champions include 1996 Kentucky Derbu winner Grindstone, 1999 Breeder’s Cup Classi c winner Cat Thief, dual classic winner Tabasco Cat, Preaknesas Stakes winner Timber Country and Belmont Stakes winner Editor’d Note. The dispersal will include abouf200 horses. The farm will continue as a small raciny stable under the directionof Young’s son, Chris Young. “Ou r goal is to lease the farm as aThoroughbrerd operation,” Bill Young said in the release. The yearlingsa will be sold at Keeneland’s September Sale, which begins Sept. 14.
The weanlings, broodmares and horsesa of racing age will be sold during the Novembedr BreedingStock Sale, and the dispersaol will continue during the January Horses of All Ages
Wednesday, August 1, 2012
Duke seeks 12.6% N.C. rate increase - The Business Journal of Milwaukee:
domnaofyvisyhojo.blogspot.com
percent in North Carolina, a move that woule add about $11 per month to average residential customer’zs bill. Duke filed the proposed increase Tuesdayy withthe N.C. Utilities The new rates, if approved, would take effect Jan. 1. The rate increased would net Dukeabout $496 million in additional revenuse from ratepayers. Reaction to the proposerd increase cameswiftly Tuesday. Jim executive director of the N.C. Wastee Awareness and Reduction Network, called it “aa slap in the face of its customersa — many of whom are already struggling during this deepprolongedf recession.
” Warren said his organization, a frequenf critic of Duke, would oppose the increase at hearingsd before the utilities commission. Brettr Carter, president of Duke Energy says the utilityknowzs it’s a difficult time to be raising But he says Duke has workefd hard to keep the increase down. He says the calculationz of Duke’s experts justified a larger increase. But Duke proposes takin g a lower return on equity than its estimatescalled for. And it also included no adjustment for inflation in the figures it has submittesd tothe commission. That cut about $150 milliojn from Duke’s overall increase, Carter says.
Without thosw steps, the rate increase would have averagec 17 percentor more. But Duke couldd not avoid an increase altogether, he According to its rate filinbg withthe commission, Duke made an overallp rate of return of just 5.88 percengt in 2008. Under the rates N.C. regulators approved in Duke was allowed to make a rate of returj ofabout 8.5 percent. Carter says current ratee will not allow Duke to coverr itsoperating costs, expand its operation s to provide reliable and environmentally souns service, and give its shareholder s a decent rate of return.
The largest part of the increasee comes from costs toinstall pollution-control equipment on Duke’ s largest coal plants, build and acquire additional plantd and upgrade its transmission and distributionj systems. Duke has spent $4.8 billion on those projectsx in the lastthree years. About $700 million of that representas N.C. customers’ share of the costs so far forthe 825-megawattf expansion of the Cliffside coal plant in Clevelan d and Rutherford counties, Carter Additional costs include scrubbers installecd to remove pollutants from emissions at the largee Allen and Marshall coal plants Duke operates.
Duke has warnex that plant construction and environmental controls will pushup rates. Carte r emphasizes that even withthis increase, Duke will remainm the lowest-cost electric utility in the region and one of the lowest-cosgt in the nation, he Warren says future increasesz could be higher than Duke is particularly as the company turns its attentionm to nuclear energy with its proposef Lee Nuclear Station near Gaffney, S.C. “Our analysis shows that under Duke’s expansion rates will rise dramatically,” he says. “And if nuclear and coal costxscontinue increasing, power bills could easil y double.” He says N.C.
WARN will continuee to press its argument to the commissiomthat Duke’s planned expansions are Duke’s proposed increases vary amonv customer classes. Residential rates would increaseaboutr 13.5 percent. For the average residential that would amountto $11 more per General-service rates for commercial and small-manufacturiny customers would increase 9.8 percent. Industrial customers wouls see the largest Their rates would goup 15.25 percent. That woul d wipe out most of the gainss industrial customers received twoyeard ago. Their rates were cut 15.64 percenyt overall in 2007, the largest cut in that rounsof rate-setting.
But with the increases on the othef classesof customers, he the rates for industrial customers remain in balance, Carter says. Duke intendx to seek rate increases in South Carolina as The utility is likely to submit that request in the next montjor so. Duke has consistently warnec that rates will increase as new plants are built in the The company last proposed a rate hikein 2007, when it soughty a 3.6 percent average increase. But it ended up agreeint to cut average ratesabout 7.5 percengt instead. That turned what woulf have beena $140 millionh increase in revenue to a reduction of more than $280 million. Customerz are unlikely to have the same luckthis time.
In that rate Duke was able to cut the propose d increase in large part because of changes in how Duke was allowee to recover the costs of scrubbere installed on coal plantsz toreduce pollution. The last time Duke got a generap rate increase in NorthCarolina — not connected to fuel which can be adjusted annually — was in 1991.
percent in North Carolina, a move that woule add about $11 per month to average residential customer’zs bill. Duke filed the proposed increase Tuesdayy withthe N.C. Utilities The new rates, if approved, would take effect Jan. 1. The rate increased would net Dukeabout $496 million in additional revenuse from ratepayers. Reaction to the proposerd increase cameswiftly Tuesday. Jim executive director of the N.C. Wastee Awareness and Reduction Network, called it “aa slap in the face of its customersa — many of whom are already struggling during this deepprolongedf recession.
” Warren said his organization, a frequenf critic of Duke, would oppose the increase at hearingsd before the utilities commission. Brettr Carter, president of Duke Energy says the utilityknowzs it’s a difficult time to be raising But he says Duke has workefd hard to keep the increase down. He says the calculationz of Duke’s experts justified a larger increase. But Duke proposes takin g a lower return on equity than its estimatescalled for. And it also included no adjustment for inflation in the figures it has submittesd tothe commission. That cut about $150 milliojn from Duke’s overall increase, Carter says.
Without thosw steps, the rate increase would have averagec 17 percentor more. But Duke couldd not avoid an increase altogether, he According to its rate filinbg withthe commission, Duke made an overallp rate of return of just 5.88 percengt in 2008. Under the rates N.C. regulators approved in Duke was allowed to make a rate of returj ofabout 8.5 percent. Carter says current ratee will not allow Duke to coverr itsoperating costs, expand its operation s to provide reliable and environmentally souns service, and give its shareholder s a decent rate of return.
The largest part of the increasee comes from costs toinstall pollution-control equipment on Duke’ s largest coal plants, build and acquire additional plantd and upgrade its transmission and distributionj systems. Duke has spent $4.8 billion on those projectsx in the lastthree years. About $700 million of that representas N.C. customers’ share of the costs so far forthe 825-megawattf expansion of the Cliffside coal plant in Clevelan d and Rutherford counties, Carter Additional costs include scrubbers installecd to remove pollutants from emissions at the largee Allen and Marshall coal plants Duke operates.
Duke has warnex that plant construction and environmental controls will pushup rates. Carte r emphasizes that even withthis increase, Duke will remainm the lowest-cost electric utility in the region and one of the lowest-cosgt in the nation, he Warren says future increasesz could be higher than Duke is particularly as the company turns its attentionm to nuclear energy with its proposef Lee Nuclear Station near Gaffney, S.C. “Our analysis shows that under Duke’s expansion rates will rise dramatically,” he says. “And if nuclear and coal costxscontinue increasing, power bills could easil y double.” He says N.C.
WARN will continuee to press its argument to the commissiomthat Duke’s planned expansions are Duke’s proposed increases vary amonv customer classes. Residential rates would increaseaboutr 13.5 percent. For the average residential that would amountto $11 more per General-service rates for commercial and small-manufacturiny customers would increase 9.8 percent. Industrial customers wouls see the largest Their rates would goup 15.25 percent. That woul d wipe out most of the gainss industrial customers received twoyeard ago. Their rates were cut 15.64 percenyt overall in 2007, the largest cut in that rounsof rate-setting.
But with the increases on the othef classesof customers, he the rates for industrial customers remain in balance, Carter says. Duke intendx to seek rate increases in South Carolina as The utility is likely to submit that request in the next montjor so. Duke has consistently warnec that rates will increase as new plants are built in the The company last proposed a rate hikein 2007, when it soughty a 3.6 percent average increase. But it ended up agreeint to cut average ratesabout 7.5 percengt instead. That turned what woulf have beena $140 millionh increase in revenue to a reduction of more than $280 million. Customerz are unlikely to have the same luckthis time.
In that rate Duke was able to cut the propose d increase in large part because of changes in how Duke was allowee to recover the costs of scrubbere installed on coal plantsz toreduce pollution. The last time Duke got a generap rate increase in NorthCarolina — not connected to fuel which can be adjusted annually — was in 1991.
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