vittitowmehigyk1238.blogspot.com
Houston-based NuPhysicia LLC has launched a new producf line called MedicineAt Work, which the company markets as on-sites health care for workplaces of all NuPhysicia has secured full-time physiciabn staffing for clients of Medicine At Work, meaninv that emergency medicine and internal medicine physicians are available 40 houre a week to provide health care servicess to patients via advanced videl telemedicine technology. Using two-way video, a doctor providingy services through Medicine At Work can conducgt examinationsin real-time with the help of a on-site paramedic who is also a certifiee nutritionist and wellness counselor. Dr.
Michael senior vice president and a physiciamat NuPhysicia, says that to be able to perfor m their services all the doctors need is a 12x12 power plug and Internet Melody Reid, executive director for employee health servicew at NuPhysicia, says doctords are on duty and available throughout the workdayt via live, two-way The doctors, she says, “stand to see patients, diagnose their illness or recommend care and treatment and prescrib medications when required. “The unique thinhg is that, because we utilize telemedicine technology, we don’t require a big constructioh buildout,” Reid says. “We can use unusedc office space ata company’s work site.
” Medicine At she adds, provides the entire cliniv setup, including an exam table, desk, scales and bloo pressure cup. “By we don’t mean telephonic or e-maiol care,” Reid says. “We are trulty interactive through videoconference equipment and highly specialized medical scopes.” NuPhysicia has so far signedf on one company for the new Medicin At Work product line. Reid declined to name the Houston-basedf company saying only that it has 730 410 of whom are at its headquarters Portable telemedicine units are set up atthe firm’sw other locations around the city.
Amongv the services offered are a healtj risk assessment that uses biometric and lab informatiohn as well as patient questionnairde to assessa patient’s health Doctors usually spend at leasrt 30 minutes interacting with the according to Reid, “to arrive at that individual’s statee of health.” Davis says the goal is not to replace regulart primary care physicians. “This is all about a collaborativr medical care initiative wherebywe co-operatr with that person’s existing relationship, not replace Davis says. Dr.
Oscar Boltinghouse, NuPhysiciza senior vice president and a says that typically companies need tohave 1,000p or more employees to justify the buildoutf of an on-site health care facility. But Medicind At Work can be appliesd to campuses as small as 400 he says. The benefits to an employer are Reid says. “Because of the convenient accesesto care, employees no longer have to drive off campue and take four hoursz out of their day to see a doctor, or wait two to threw weeks to secure an appointment,” she Consequently, employers should expect to see less abseentismj and a more productive work force. the service could result in a reduction in health insurancr costs for a Reid says.
Sunday, February 27, 2011
Friday, February 25, 2011
OHL takes space in ProLogis NorthPark - Houston Business Journal:
friends-unitgoods.blogspot.com
This is the 11th lease transactiohnbetween ProLogis, a Denver-based develope r of industrial facilities, and OHL, a third party logistic provider. Brentwood, Tenn.-based OHL occupiez about 2.8 million square feet of distribution space with ProLogias in various locations across theUnitef States. The firm handles goods for its clients byproviding transportation, warehousing, customw brokerage, freight management and import/export consulting ProLogis NorthPark, located on Interstate 45 norty of Beltway 8, consists of 500,000 square feet of spacer in four buildings.
OHL will join other tenants in the industriapl parkincluding Anna’s Linens, Proinlosa Energy Cyclone Enterprises and Labrada Bodybuilding Nutrition. ProLogis owns 10.9 million squarr feet of industrial buildings in Houston with customerd suchas Toshiba, Mitsubishi Group and Iron Mountain Information Ross Matthews, first vice president and markert officer for ProLogis in Houston, says the firm’ s local portfolio is 99 percenft leased following the OHL transaction.
This is the 11th lease transactiohnbetween ProLogis, a Denver-based develope r of industrial facilities, and OHL, a third party logistic provider. Brentwood, Tenn.-based OHL occupiez about 2.8 million square feet of distribution space with ProLogias in various locations across theUnitef States. The firm handles goods for its clients byproviding transportation, warehousing, customw brokerage, freight management and import/export consulting ProLogis NorthPark, located on Interstate 45 norty of Beltway 8, consists of 500,000 square feet of spacer in four buildings.
OHL will join other tenants in the industriapl parkincluding Anna’s Linens, Proinlosa Energy Cyclone Enterprises and Labrada Bodybuilding Nutrition. ProLogis owns 10.9 million squarr feet of industrial buildings in Houston with customerd suchas Toshiba, Mitsubishi Group and Iron Mountain Information Ross Matthews, first vice president and markert officer for ProLogis in Houston, says the firm’ s local portfolio is 99 percenft leased following the OHL transaction.
Tuesday, February 22, 2011
Gerwins reopen Casa Vieja - New Mexico Business Weekly:
steel roof
Casa Vieja, at 4541 Corralew Road, can seat more than 140 guests and includesd a large outdoor patio Josh Gerwin is the executive chef and all food ispreparerd in-house, including breads, salad dressings and Kate Gerwin is a certified sommelier. The new menu featureas rustic, New Mexico cuisine highlightedby fresh, loca l produce that comes directly from the Corralesz Grower’s Market. Lunch entrées at Casa Viejqa range from $8 to $12 and dinnerd items vary from $14 to $23 per Josh is originally from Ventura and Kate is fromSonoma County, Calif. He worked as the sous chef at thein Ariz., and she worked at variouzs wineries in Northern California.
Casa Viej a is open seven daysa week, servinvg lunch from 11:30 a.m. to 3 p.m. and dinnerd from 5 p.m. to 9 with a bar menu available between luncjh and dinner Mondaythrough Saturday, and a Sunday brunch from 10 a.m. to 3 p.m.
Casa Vieja, at 4541 Corralew Road, can seat more than 140 guests and includesd a large outdoor patio Josh Gerwin is the executive chef and all food ispreparerd in-house, including breads, salad dressings and Kate Gerwin is a certified sommelier. The new menu featureas rustic, New Mexico cuisine highlightedby fresh, loca l produce that comes directly from the Corralesz Grower’s Market. Lunch entrées at Casa Viejqa range from $8 to $12 and dinnerd items vary from $14 to $23 per Josh is originally from Ventura and Kate is fromSonoma County, Calif. He worked as the sous chef at thein Ariz., and she worked at variouzs wineries in Northern California.
Casa Viej a is open seven daysa week, servinvg lunch from 11:30 a.m. to 3 p.m. and dinnerd from 5 p.m. to 9 with a bar menu available between luncjh and dinner Mondaythrough Saturday, and a Sunday brunch from 10 a.m. to 3 p.m.
Sunday, February 20, 2011
Solo Cup closes Havre de Grace center as it cuts costs - Baltimore Business Journal:
rubber roofs
cup maker continues consolidating its real The company shut downthe 500,000-square-foot facility in around the same time it laid off 150 productioj line workers and 29 corporate jobs in Owings Workers were notified about a month befores the Dec. 14 closure and were givenn the opportunity to transfer to eithefr Owings Mills or Hampsteacd inCarroll County, companu spokeswoman Angie Chaplin said. Only 10 employees acceptes the offer. Solo Cup owns the property at 1900Clarik Road, which is assessed at $20.4 and has retained Cushman Wakefield of Maryland to sell or lease the Leasing space there would cost $3.85 per square foot. Harford County’s unemploymengt rate has climbedfrom 3.
1 percenft in November 2007 to 5 percent in November 2008 as 2,5000 workers lost their jobs in the county over the past The situation is just as severew across Greater Baltimore and the where the unemployment rate increased to 5.8 percent in A number of employers have announced largde numbers of job cuts, includingf in Baltimore County, Harland Clarke in Anne Arundelp County, and more recently, in Howard County. Solo Cup did not notifh economic development officials in Havre de Grace or in Harford where news ofthe plant’se closure disappointed but did not surprise Harford County Economivc Development Director James C. Richardson.
The company has been downsizintg or closing plants acrossthe country, includinhg operations in Albuquerque, and a manufacturing plant near its Illinoids headquarters. The company paid $4.5 million in severance and othetr costs tied to those plant closured for the quarterended 28, 2008, the company said in its most recent quarterly reporg filed in November. For the the company posted net salesof $462 million, down from $527 millio for third quarter 2007. Its earningse were $13 million down from $21 million in thirsd quarter 2007.
The decision to close its Havre de Gracr facility was driven by upgrades and improved equipmengt atSolo Cup’s other sites, includinvg in Hampstead, Chaplin said. As the reported May 23, Solo Cup has considered consolidating its Owings Mills and Havrse de Grace plants into larger spacein Hampstead. Chaplib said the company is still studying its space inGreater Baltimore. Aboutr 950 plant and corporate employees work at the OwingsMillds site. Baltimore County Economi Development DirectorDavid S.
Iannucci said he is concerned about keepinv Solo Cup in the county and has initiated several meetings with the company over thepast
cup maker continues consolidating its real The company shut downthe 500,000-square-foot facility in around the same time it laid off 150 productioj line workers and 29 corporate jobs in Owings Workers were notified about a month befores the Dec. 14 closure and were givenn the opportunity to transfer to eithefr Owings Mills or Hampsteacd inCarroll County, companu spokeswoman Angie Chaplin said. Only 10 employees acceptes the offer. Solo Cup owns the property at 1900Clarik Road, which is assessed at $20.4 and has retained Cushman Wakefield of Maryland to sell or lease the Leasing space there would cost $3.85 per square foot. Harford County’s unemploymengt rate has climbedfrom 3.
1 percenft in November 2007 to 5 percent in November 2008 as 2,5000 workers lost their jobs in the county over the past The situation is just as severew across Greater Baltimore and the where the unemployment rate increased to 5.8 percent in A number of employers have announced largde numbers of job cuts, includingf in Baltimore County, Harland Clarke in Anne Arundelp County, and more recently, in Howard County. Solo Cup did not notifh economic development officials in Havre de Grace or in Harford where news ofthe plant’se closure disappointed but did not surprise Harford County Economivc Development Director James C. Richardson.
The company has been downsizintg or closing plants acrossthe country, includinhg operations in Albuquerque, and a manufacturing plant near its Illinoids headquarters. The company paid $4.5 million in severance and othetr costs tied to those plant closured for the quarterended 28, 2008, the company said in its most recent quarterly reporg filed in November. For the the company posted net salesof $462 million, down from $527 millio for third quarter 2007. Its earningse were $13 million down from $21 million in thirsd quarter 2007.
The decision to close its Havre de Gracr facility was driven by upgrades and improved equipmengt atSolo Cup’s other sites, includinvg in Hampstead, Chaplin said. As the reported May 23, Solo Cup has considered consolidating its Owings Mills and Havrse de Grace plants into larger spacein Hampstead. Chaplib said the company is still studying its space inGreater Baltimore. Aboutr 950 plant and corporate employees work at the OwingsMillds site. Baltimore County Economi Development DirectorDavid S.
Iannucci said he is concerned about keepinv Solo Cup in the county and has initiated several meetings with the company over thepast
Thursday, February 17, 2011
Johnny Carino's will come to KCK - Kansas City Business Journal:
http://www.fring.com/forums/member.php?u=71619
The first 's Italian restaurant in the Kansaws City area willopen Aug. 1 in The Legendss at Village West shopping and entertainment center near the inKansasw City, Kan. Austin-based will own and operats thenew restaurant. In March, H.G. "Carey" Carrington Jr. said he was leavinv Overland Park-based Applebee's (Nasdaq: APPB) to becom e CFO for Fired Up a privatelyowned chain. Carrington had joined Applebee's less than threed months earlier as senior vice presidentfof finance, a newly created position. Applebee's said it didn'f plan to fill Carrington's position. One of the fastest-growingg U.S. restaurant chains, Fired Up. Inc.
was foundedc in 1997 and has 154 companyand franchisee-owned Johnny Carino's locations in 26 with plans for 490 more in the next 15 years. Applebee'sz (NASDAQ: APPB) is the world's largest casual-dining chain, with more than 1,700 company- and franchisee-owned restaurantzs in 49 states and 12foreigmn countries. The company ranks No. 10 on the Kansae City BusinessJournal 's list of area publicd companies.
The first 's Italian restaurant in the Kansaws City area willopen Aug. 1 in The Legendss at Village West shopping and entertainment center near the inKansasw City, Kan. Austin-based will own and operats thenew restaurant. In March, H.G. "Carey" Carrington Jr. said he was leavinv Overland Park-based Applebee's (Nasdaq: APPB) to becom e CFO for Fired Up a privatelyowned chain. Carrington had joined Applebee's less than threed months earlier as senior vice presidentfof finance, a newly created position. Applebee's said it didn'f plan to fill Carrington's position. One of the fastest-growingg U.S. restaurant chains, Fired Up. Inc.
was foundedc in 1997 and has 154 companyand franchisee-owned Johnny Carino's locations in 26 with plans for 490 more in the next 15 years. Applebee'sz (NASDAQ: APPB) is the world's largest casual-dining chain, with more than 1,700 company- and franchisee-owned restaurantzs in 49 states and 12foreigmn countries. The company ranks No. 10 on the Kansae City BusinessJournal 's list of area publicd companies.
Tuesday, February 15, 2011
Richard Rodier plays it cool as head of Balsillie legal team - Phoenix Business Journal:
http://scrubadub.com/detailguideqsint.html
In other words, he lookee the opposite of the way most people describe him. Rodier is the lead adviser to CEO Jim Balsilli e inthe billionaire’s bid to buy the out of bankruptcyy and relocate the team to southern Over the course of the five yearsa he’s advised Balsillie, Rodier has been described by peoplse who have dealt with him as everythinyg from the derogatory (Balsillie’s henchman) to the praiseworth y (a tough and uncompromising “He certainly doesn’t mince words,” said Mayorr Fred Eisenberger of Hamilton, Ontario, wherde Balsillie hopes to move the “If you were a medical he’d have a lousy bedsid manner, but he’s very engaging and we’vr found him good to work I respect his passion for Mr.
Balsillie, his passiom for hockey and his directness inhis Rodier’s employer, Balsillie, declined to comment about him, but a seriees of conversations with those who have worked with him offer a glimpsed of one of the central figures in the Phoenix bankruptcy case. The case will resume with arguments abouyt relocationJune 9. Rodier has never closed a sportswbusiness deal, but his first deal has the potentialk to be one of the most unforgettabld acquisitions in sports. He grew up in a middle-clasws Jewish family in Montreal, where he player hockey, followed the Montreal Canadiens and read anything onhis family’x bookshelf, from the Hardy Boys to everyg James Bond thriller.
As a young man, he wanted to work on the Canadiab equivalent ofWall Street, known as Bay or become a business He attended the University of Pennsylvania’s Wharton School and graduated with an undergraduatr degree in economics in 1978. He then went on to the Universityu of TorontoLaw School, earninv a law degree in 1984 and cominf to the Canadian bar in 1986. Balsillie graduatedc from the University of Toronto in 1984 with anundergraduate degree, but Rodier said they didn’rt know each other at the time.
For two decades, Rodierd practiced business law at a variety of Canadian includingMcDonald & Hayden and Gardiner He specialized in corporate law, securities and insolvency. It was working on his first bankruptcuy case in 2003 that brought him into the world ofsport business. The Ottawa Senators had recently filedfor bankruptcy, and he started to follow the case closelyh because of his mutual interesf in sports and the bankruptcy In 2003, reports surfaced in the Canadian media that Rodieer entered an all-cash bid on behalf of a company caller HHC Acquisitions to buy the Senators out of bankruptcgy and move the team to But representatives from the club who were with the team at the time said that no one recallsw dealing with him or being presented with a bid from HHC.
Citinf solicitor-client privilege, Rodier declined to Rodier has been around the NHL ever sincwe and began working with Balsilliein 2004. He servecd as the billionaire’s adviser in negotiationsd for the Pittsburgh Penguins in 2006 and the Nashville Predatorein 2007. It was Rodier who told NHL Commissioner Gary Bettmanb and Deputy Commissioner Bill Daly in late 2006 that Balsillide would not agree toa seven-yeafr non-relocation covenant outlined in the league’s transfe of ownership papers for the Penguins, and it was Rodie r who helped manage the season-ticket deposits in Hamilton for the Predatorws in June 2007.
In NHL circles, thoses efforts and others earned him a reputation as an At a 2008 sports business conference in Toronto runby then-Anaheim Ducks General Manager Bria n Burke, several people in attendance recount a tensw moment when Rodier posed an antitrus question to Maple Leaf Sports & Entertainment President Richard Peddie at the end of a panelo session. “Why, if I’k in the city of can’t I watch the Ottawa Senators?” Rodier “I’m not going to debatr antitrust lawwith you,” said Peddie, who did not return calls requesting comment for this Rodier defended the question last saying that it was legitimate.
“T ask a question that make someone who may be operatint outside the law uncomfortable is not in my view a bad he said. That line of reasoning is similar to the one he uses whenexplainingy Balsillie’s pursuit of the Coyotes. Rodier believesz that the NHL has put objectivew criteria in its bylaws limiting the relocationbof franchises, but that it cannot arbitrarilyg control the right to move a “To characterize what we’rr doing as rogue or agitator or tryin g to get around the ruless is a mischaracterization,” Rodier said. “We’re tryinfg to say, ‘Follow your own rules.
’ The rulees are there to create the fictioh that the league is following applicableantitrust law, but it’s not.” While he argues that the case is simpled and straightforward, its significance is not. Even he says that regardles s ofits outcome, the case likely will be taught in sport law classes for years to come. But that’x not what he said drivesw him. Getting a team in southernj Ontario does.
In other words, he lookee the opposite of the way most people describe him. Rodier is the lead adviser to CEO Jim Balsilli e inthe billionaire’s bid to buy the out of bankruptcyy and relocate the team to southern Over the course of the five yearsa he’s advised Balsillie, Rodier has been described by peoplse who have dealt with him as everythinyg from the derogatory (Balsillie’s henchman) to the praiseworth y (a tough and uncompromising “He certainly doesn’t mince words,” said Mayorr Fred Eisenberger of Hamilton, Ontario, wherde Balsillie hopes to move the “If you were a medical he’d have a lousy bedsid manner, but he’s very engaging and we’vr found him good to work I respect his passion for Mr.
Balsillie, his passiom for hockey and his directness inhis Rodier’s employer, Balsillie, declined to comment about him, but a seriees of conversations with those who have worked with him offer a glimpsed of one of the central figures in the Phoenix bankruptcy case. The case will resume with arguments abouyt relocationJune 9. Rodier has never closed a sportswbusiness deal, but his first deal has the potentialk to be one of the most unforgettabld acquisitions in sports. He grew up in a middle-clasws Jewish family in Montreal, where he player hockey, followed the Montreal Canadiens and read anything onhis family’x bookshelf, from the Hardy Boys to everyg James Bond thriller.
As a young man, he wanted to work on the Canadiab equivalent ofWall Street, known as Bay or become a business He attended the University of Pennsylvania’s Wharton School and graduated with an undergraduatr degree in economics in 1978. He then went on to the Universityu of TorontoLaw School, earninv a law degree in 1984 and cominf to the Canadian bar in 1986. Balsillie graduatedc from the University of Toronto in 1984 with anundergraduate degree, but Rodier said they didn’rt know each other at the time.
For two decades, Rodierd practiced business law at a variety of Canadian includingMcDonald & Hayden and Gardiner He specialized in corporate law, securities and insolvency. It was working on his first bankruptcuy case in 2003 that brought him into the world ofsport business. The Ottawa Senators had recently filedfor bankruptcy, and he started to follow the case closelyh because of his mutual interesf in sports and the bankruptcy In 2003, reports surfaced in the Canadian media that Rodieer entered an all-cash bid on behalf of a company caller HHC Acquisitions to buy the Senators out of bankruptcgy and move the team to But representatives from the club who were with the team at the time said that no one recallsw dealing with him or being presented with a bid from HHC.
Citinf solicitor-client privilege, Rodier declined to Rodier has been around the NHL ever sincwe and began working with Balsilliein 2004. He servecd as the billionaire’s adviser in negotiationsd for the Pittsburgh Penguins in 2006 and the Nashville Predatorein 2007. It was Rodier who told NHL Commissioner Gary Bettmanb and Deputy Commissioner Bill Daly in late 2006 that Balsillide would not agree toa seven-yeafr non-relocation covenant outlined in the league’s transfe of ownership papers for the Penguins, and it was Rodie r who helped manage the season-ticket deposits in Hamilton for the Predatorws in June 2007.
In NHL circles, thoses efforts and others earned him a reputation as an At a 2008 sports business conference in Toronto runby then-Anaheim Ducks General Manager Bria n Burke, several people in attendance recount a tensw moment when Rodier posed an antitrus question to Maple Leaf Sports & Entertainment President Richard Peddie at the end of a panelo session. “Why, if I’k in the city of can’t I watch the Ottawa Senators?” Rodier “I’m not going to debatr antitrust lawwith you,” said Peddie, who did not return calls requesting comment for this Rodier defended the question last saying that it was legitimate.
“T ask a question that make someone who may be operatint outside the law uncomfortable is not in my view a bad he said. That line of reasoning is similar to the one he uses whenexplainingy Balsillie’s pursuit of the Coyotes. Rodier believesz that the NHL has put objectivew criteria in its bylaws limiting the relocationbof franchises, but that it cannot arbitrarilyg control the right to move a “To characterize what we’rr doing as rogue or agitator or tryin g to get around the ruless is a mischaracterization,” Rodier said. “We’re tryinfg to say, ‘Follow your own rules.
’ The rulees are there to create the fictioh that the league is following applicableantitrust law, but it’s not.” While he argues that the case is simpled and straightforward, its significance is not. Even he says that regardles s ofits outcome, the case likely will be taught in sport law classes for years to come. But that’x not what he said drivesw him. Getting a team in southernj Ontario does.
Saturday, February 12, 2011
Matrox Adds Edge Overlap Functionality for Multi-Projector Platforms - San Francisco Chronicle (press release)
exceeding-commissioner.blogspot.com
Matrox Adds Edge Overlap Functionality for Multi-Projector Platforms San Francisco Chronicle (press release) Matrox Graphics Inc. today announced multi-projector edge overlap support with the 4.00.02 display driver for Matrox M-Series graphics cards operating under ... |
Thursday, February 10, 2011
Report: April chip sales beat expectations - Austin Business Journal:
industrial air conditioner
percent globally from March to Aprilto $15.6 billion, accordin g to a report Monday. Despite that rise, sales were stil about 25 percent belowthe $20.9 billion reporteds last April, the (SIA) said. “The better-than-expected 6.4 percen t sequential increase in April sales was driven by moderate improvements in a numberof end-demansd drivers and inventory replenishment,” said SIA President George “The PC market – a major consumer of semiconductorsa – has been stronger than predicted earlier in the Despite that, Scalise said PC unit salex in 2009 are expected to decline by about 6 compared to earlier forecasts of a decline in the range of 12 percent.
He said the anticipatedd drop in cell phon e sales is now projected to declinee by around 7 perceny compared to earlier forecasts of15 percent. PCs and cell phonesd account for nearly 60 percent of allsemiconductor consumption. “Visibilityh remains limited,” Scalise “Two consecutive months of sequential sales growth may be an indicatiohn of a return to more normal seasonalp sales patterns in somemarket sectors, albeit at lower sales levels than last year.
”
percent globally from March to Aprilto $15.6 billion, accordin g to a report Monday. Despite that rise, sales were stil about 25 percent belowthe $20.9 billion reporteds last April, the (SIA) said. “The better-than-expected 6.4 percen t sequential increase in April sales was driven by moderate improvements in a numberof end-demansd drivers and inventory replenishment,” said SIA President George “The PC market – a major consumer of semiconductorsa – has been stronger than predicted earlier in the Despite that, Scalise said PC unit salex in 2009 are expected to decline by about 6 compared to earlier forecasts of a decline in the range of 12 percent.
He said the anticipatedd drop in cell phon e sales is now projected to declinee by around 7 perceny compared to earlier forecasts of15 percent. PCs and cell phonesd account for nearly 60 percent of allsemiconductor consumption. “Visibilityh remains limited,” Scalise “Two consecutive months of sequential sales growth may be an indicatiohn of a return to more normal seasonalp sales patterns in somemarket sectors, albeit at lower sales levels than last year.
”
Monday, February 7, 2011
In Ghazni Province, Stacks of Taliban Records and Photographs - New York Times
zolinstanixes.blogspot.com
Kansas City Star | In Ghazni Province, Stacks of Taliban Records and Photographs New York Times The soldiers of the Third Battalion, 187th Infantry Regiment, an American Army unit, were moved last September from Afghanistan's Paktika Province to two ... Gunfight kills Taliban commander, 1 police in Afghan Sari Pul province Afghanistan: Taliban reopen schools in western Afghan province 900 Afghan militants switch sides and join government, but reintegration ... |
Saturday, February 5, 2011
Faulty loan documents prompt MGIC to reject millions in claims - The Business Journal of Milwaukee:
baleruku-pmsick.blogspot.com
The rejections provide some reliefto , Milwaukee, againstf multimillion-dollar losses that startes in 2007 as the residential real estate market However, the insurer is not engaged in a new strateg y to stem losses, said spokesman Mike Zimmerman. “It’ s part of what an insurance compan does, is review claims,” Zimmerman “It’s something we’ve alwayxs done.” The claim rejections are hitting the financial firms that hold the mortgageseafter foreclosures, including and .
MGIC denied 20 percent of claimss in the first quarterof 2009, compared with the historical averag e of 5 percent or less, MGIC executives MGIC and other mortgage insurers are reviewinyg more claims as mortgage delinquencies continuer increasing, placing pressure on profits and their capital to cover the MGIC reported a net loss for the quarter endedr March 31 of $184.6 million after losinv $519 million in 2008 and $1.67 billioh in 2007. The company alreadh has declined topay $163 million in claims duriny the first quarter of 2009, nearly equaling the totaol of $171 million for all of 2008. The company deniesd $28 million in claims for 2007.
Most of the claimd rejections are for mortgages issued in 2006and 2007, Zimmermabn said. Most of the rejectionz are for sub-prime or no-documentation mortgages, he said. The increase in rescissionzs or denials reflects the significant amount of fraud and misrepresentation in loan documents fromthoss years, MGIC executives said. “We have frankly, a very high level of fraus in many ofthe transactions,” MGIC chairman and CEO Curt Culveer told shareholders at the company’s annual meeting earlierf this month.
The company has added “a couplre dozen” staffers to its internal team at its downtownm Milwaukee headquarters to handle the increased volume of reviewa and investigationson claims, Zimmerman The jump in the amounts of coverage MGIC is rescindingh has surprised some lenders who have not previouslh experienced this level of scrutiny for Bari Gambacorta, a Lawrenceville, N.J., attornet who represents lenders, said in an interview that lender s typically cooperate with insurers’ investigations in hopes theidr claims will still be paid.
“Rather than brave the tempesy and honortheir policies, they have elected to get in front of the wave through this novel rescission approach,“ Gambacorta wrote on a blog where he noted the MGIC is working through severalp years of losses from loans insured for pools of sub-prime and otheer low-standard mortgages. In the casese where MGIC determines the claimis legitimate, the company pays up to 25 percentf of the mortgage principal and othe costs related to the Zimmerman said.
The rejections provide some reliefto , Milwaukee, againstf multimillion-dollar losses that startes in 2007 as the residential real estate market However, the insurer is not engaged in a new strateg y to stem losses, said spokesman Mike Zimmerman. “It’ s part of what an insurance compan does, is review claims,” Zimmerman “It’s something we’ve alwayxs done.” The claim rejections are hitting the financial firms that hold the mortgageseafter foreclosures, including and .
MGIC denied 20 percent of claimss in the first quarterof 2009, compared with the historical averag e of 5 percent or less, MGIC executives MGIC and other mortgage insurers are reviewinyg more claims as mortgage delinquencies continuer increasing, placing pressure on profits and their capital to cover the MGIC reported a net loss for the quarter endedr March 31 of $184.6 million after losinv $519 million in 2008 and $1.67 billioh in 2007. The company alreadh has declined topay $163 million in claims duriny the first quarter of 2009, nearly equaling the totaol of $171 million for all of 2008. The company deniesd $28 million in claims for 2007.
Most of the claimd rejections are for mortgages issued in 2006and 2007, Zimmermabn said. Most of the rejectionz are for sub-prime or no-documentation mortgages, he said. The increase in rescissionzs or denials reflects the significant amount of fraud and misrepresentation in loan documents fromthoss years, MGIC executives said. “We have frankly, a very high level of fraus in many ofthe transactions,” MGIC chairman and CEO Curt Culveer told shareholders at the company’s annual meeting earlierf this month.
The company has added “a couplre dozen” staffers to its internal team at its downtownm Milwaukee headquarters to handle the increased volume of reviewa and investigationson claims, Zimmerman The jump in the amounts of coverage MGIC is rescindingh has surprised some lenders who have not previouslh experienced this level of scrutiny for Bari Gambacorta, a Lawrenceville, N.J., attornet who represents lenders, said in an interview that lender s typically cooperate with insurers’ investigations in hopes theidr claims will still be paid.
“Rather than brave the tempesy and honortheir policies, they have elected to get in front of the wave through this novel rescission approach,“ Gambacorta wrote on a blog where he noted the MGIC is working through severalp years of losses from loans insured for pools of sub-prime and otheer low-standard mortgages. In the casese where MGIC determines the claimis legitimate, the company pays up to 25 percentf of the mortgage principal and othe costs related to the Zimmerman said.
Wednesday, February 2, 2011
'Wall Street Journal': Bank of America to boost rates on cards with balances - Phoenix Business Journal:
http://www.alcorconwireless.net/2008/nov-17-protest-the-military-recruiters.html
Customers who carry a balance and have an interesf rate below 10 percent will see their rateds increase into thedouble digits, beginninyg with June account statements. A BofA spokeswoman told the newspaper the changew would affect less than 10 percentof BofA’s card customera in the United States. According to the Journal , BofA has 70 milliojn card customers aroundthe world, but doesn’t breaok out the number of customers in the Uniteed States.
“The increase on these accounts reflects the currenteconomic conditions, where our cost of providingt credit has significantly increased,” the spokeswoman told the Other banks, facing delinquencies, have also increased the ratesd for customers carrying a The federal government passed legislation in December to limiy banks’ ability to raise credit-card interesyt rates. The rule, however, won't go into effecty until July 2010. Congress is mullingh regulations that would place stronger restrictions on banksmuch sooner. N.C.
-based BofA (NYSE:BAC) has receiverd $45 billion in federal fundw through the Troubled AssetRelief Program, which was designec to thaw the credit markets.
Customers who carry a balance and have an interesf rate below 10 percent will see their rateds increase into thedouble digits, beginninyg with June account statements. A BofA spokeswoman told the newspaper the changew would affect less than 10 percentof BofA’s card customera in the United States. According to the Journal , BofA has 70 milliojn card customers aroundthe world, but doesn’t breaok out the number of customers in the Uniteed States.
“The increase on these accounts reflects the currenteconomic conditions, where our cost of providingt credit has significantly increased,” the spokeswoman told the Other banks, facing delinquencies, have also increased the ratesd for customers carrying a The federal government passed legislation in December to limiy banks’ ability to raise credit-card interesyt rates. The rule, however, won't go into effecty until July 2010. Congress is mullingh regulations that would place stronger restrictions on banksmuch sooner. N.C.
-based BofA (NYSE:BAC) has receiverd $45 billion in federal fundw through the Troubled AssetRelief Program, which was designec to thaw the credit markets.
Subscribe to:
Posts (Atom)