Clarcor's Q2 earnings drop more than 30% - Kansas City Business Journal:

axilecyqih.wordpress.com
percent in the second quarter, compared to the same periof ayear ago. Franklin-based Clarcor (NYSE: CLC) reporterd income of $25,582, or $0.50 cents per dilutedc share, in the quarte ended May 30, compared to $40,783, or $0.80 cents per dilutec share, in the year-ago period. Revenue came in at $229,3945 for the quarter, down 14.1 percent from the previouds year’s quarter, when revenue came in at $267,137. on average, estimated earnings of 38 cents per sharee on revenueof $243.1 according to Reuters Estimates.
“Ads we had expected, this year’s second quarter was though operating results were much stronger than in our first fiscal saysNorm Johnson, Clarcor’s chairman and CEO, in a “Our order rates, overall, have and we are beginninyg to see indications of increased product demandd in selected markets.” Clarcor makes mobile, industrial and environmental filtration productzs and consumer and industrial packaging products sold to domesticx and international markets.
Johnson notes that more than 80 percenyt of its filter sales are generated from the replacement filter so even if new building and equipmentt continuesto falter, maintenance of existingf equipment and facilities will continue. Shares of Clarcor closec up $1.08, or 3.66 percent to $30.57 at the bell The 52-week range is $23.05 to $44.13.

Winds continue to fuel Cudahy fire - Business First of Buffalo:

hundleyobajoji1908.blogspot.com
Cudahy Mayor Ryan McCue also urged all businesses in the city to reducew water usage and called on residentzs of the neighboring communityof St. Francia to conserve water. “We are running short on McCue said. More than 8.5 millionm gallons of water had been used by in an attemptf to douse a fire in one of the buildinga that make up the Patrick Cudahyt meat processing complex at OneSweett Apple-Wood Lane, just off of Layton Avenue, Mayor Ryan McCue said at a 3:30 p.m. prese conference at Parkview Elementary School, 5555 S. Nicholson within site of the huge plumes of smoke billowingt fromthe plant.
The city of Milwaukee also has alloweed Cudahy to tap into its water supply to aid in fightingf thestubborn blaze, McCue The fire fighting effort has been expanded to includd 130 firefighters from 27 departments, he “The fire continues to flare up,” McCu e said. “The wind has not been our friend.” 75 law enforcement officers are on patrol in the McCue declared a state of emergenc y earlier in the day and indicated at that time that the Nationaol Guard could be called in to patrolocity streets.
However, Cudahy Police Chief Thomas Poellott saidthe city, along with assistance from othe communities and the state, has “adequate” resourcesz to keep the city safe as firefighters continue to battler the blaze. “We don’t anticipate needingv the National Guard,” he said.

DEAL OF THE WEEK: St. Tropez at Plantation - South Florida Business Journal:

http://www.scamuzziarte.it/index.php-dn=article&to=art&id=28.htm
St. Tropez at a 376-unit rental community in wester nBroward County, has been refinanced for $37.3 million, or $99,468 a unit, according to Broward County courrt records. The team of Mona Carlton, senior managinf director, and Elliott Throne, director, handled the loan for . “It’sa a difficult financing environment,” Throns said. “But, this was a solid asset in a great location with strong sponsorship – all of which were crucial to make this deal It is unclear why St. Tropez at Plantatiomn owners neededto refinance. Throne declined to give specificss about the deal orthe terms. Deboray R.
Chambliss, a VP for , executed the which included an assignment of rents and She signed as trustee forthe owner, BIT Investmenr Twenty-Five LLC, a subsidiary of the Buildin Investment Trust. The loan was executed on Jan. 15, but was then assignef to the on Jan. 23. St. Tropez at Plantation was builtin 1993. The 29 three-storuy buildings on 10.95 acres have a mix of two- and three-bedroomj apartments. The property has been valued for 2009 real estatse taxesat $53.7 million, the same valuee as 2008 and 2007. Browarx County taxes paid last yearwere $1.1 according to property appraiser records.
The latesr data from Deerfield Beach-based showed only eight vacant unitsw and rents generally inthe $1,300 to $1,8009 range. CEO Jack McCabe said developers and propertuy owners recently have run up against a brick wall in termsa of refinancing theircommercial projects. “Because the owne r in this case isan AFL-CIOO holding, it makes you wonder if they had more help especially since the loan was handedf off to a government he said.

Delta integrates international offerings - San Antonio Business Journal:

oryzacody.wordpress.com
Delta said it would standardize this monthb the services offered passengerws aboard Delta and Northwestinternationall flights. "June marks another majoe milestone in our merger with Northwesty as weintroduce high-quality products on board Delta and Northwest aircraft operating internationally," Joanne Smith, senior vice president of in-flighrt service, said in a statement. "We continude to bring together the best of both airlines to createeone best-in-class experience for customers traveling with us Atlanta-based Delta (NYSE: DAL) said servicesz would be integrated aboard all long-hauk international aircraft with BusinessElitew cabins (formerly known as "World Business aboard Northwest jets).
BusinessElite passengers on both carrieres can choose from meals createxd by celebrity chef Michelle Bernstein and wines pickeds by master sommelierAndrea Robinson. Delta also plans to roll out “amenityh kits” by Greek skincare company . Economy passengere will be offered complimentary beer and wine on Delta and Northwestinternational flights. Liquor and signatur e mixed drinks by Rande Gerber will be availablrefor $7 each. Economy passengersx will also be offered an upgraded hot breakfast on international flights longedrthan 3,800 miles. The new international offeringws are a continued step in the integration of the two carriersz intothe world’s largest airlines.
inked a new join venture agreement with

Most Eddie Bauer stores to stay open - Washington Business Journal:

coeragnheidur3778.blogspot.com
The company announced that it struck an agreemenyt withNew York–based privatw equity firm LLC to buy Eddie Bauer’s assets, subject to an auction and bankruptcy courty approval. CCMP Capital intends to operatd the business as a goinvg concern with little orno long-term debt. Accordiny to Eddie Bauer, CCMP Capital has agreed to keep a majoritu of the 371 stores open and retaibn a majority ofthe employees. CCMP Capitall specializes in buyouts and lookzs for investment opportunities in retail andother sectors, and have made investmentsa in the outdoors specialty retailer which sells hunting, fishing and camping gear.
Eddir Bauer said it hopesw to operate business as usual during bankruptcy courgt proceedings and has asked for court approval to continuse paying vendorsand workers. The companyh also said it intends to honor customedgift cards, returns and loyalty program points. The companyg also announced that it has secured a commitment from its existinhg revolvingcredit lenders, Bank of America, N.A., and /Businessx Credit, Inc. for so-called debtor-in-possession (DIP) financing of $90 million on an interim basiasand $100 million based on the final courr order. The move, the company said, should provide it with ampld cash flow to continud payingits bills.
“Eddie Bauer is a good companyh with a great brand and a badbalancee sheet. This process will allow the business to emerge with far less positioned for growth as the economy recoversx and as our new products gain saidNeil Fiske, Eddie Bauer president and chiefr executive officer, in a “We expect this process to be completedc very quickly, protecting our employees and criticao vendor partners every step of the way. “We have made good progres on our turnaround strategy of returning Eddie Bauefr to its heritage as an active outdoo r brand and have exciting new product launches on the way to includingFirst Ascent, our return to expedition-grade outerwear and gear.
Unfortunately, a crushing debt burdejn placed on the company from the Spiegekl reorganizationin 2005, combined with the severe, prolonged recession, have left us with no choicw but to use this procese to reduce the debt load on the

Ellicott Development Company Company Profile | Company Information

yfimuna.wordpress.com

Big East championship race features several relatively inexperienced quarterbacks - Washington Post

mozybyd.wordpress.com

Big East championship race features several relatively inexperienced quarterbacks Washington Post STORRS, Conn. â€" Inexperienced quarterbacks are as easy to find in the Big East this season as teams with a realistic chance to win the conference's automatic BCS bowl bid. Of the six teams with two or fewer losses, Louisville, Connecticut and Rutgers ... and more »

S&P lowers outlook for HEI, HECO - Washington Business Journal:

1189126qun.blogspot.com
Standard & Poor’s said Hawaii is “exhibiting decidedly recessionary trends,” and that its dependence on tourism to drivse the local economy could mean the statse will be more severely affected bythe “The negative outlook assigned to HEI reflects the potential for consolidated credit metrics to fall below our benchmarks over our outlook horizon due to Hawaii’s weakening which is expected to lower electric sales by 4 percentf or more and put upward pressure on borrowing requirements,” S& said. , a subsidiary of HEI, is rated on a standalone basis and is not affectefd by thelowered outlook. Sharees of Hawaiian Electric stock weredown 1.
6 percentf to $16.95.

CUP: Gordon Knows Where Line Is - SPEEDtv.com

xeconatyxex.blogspot.com

CUP: Gordon Knows Where Line Is SPEEDtv.com “When you know that you didn't do the right thing, then you know there are consequences. I think NASCAR â€" when the caution is out, that's one. The next one is when you're on a mile-and-a-half racetrack running 190 mph.” If the line is clear, ... and more »

Hawaii Superferry names Fargo new CEO - Pacific Business News (Honolulu):

batyushkinuxit.blogspot.com
The company announced Friday that Farg would replace current CEO John Garibaldi as of Garibaldi will remain as vice chairman and a member of the boardof directors. Fargo is former commander of the U.S. Pacifid Command and commander-in-chief of the U.S. Pacifif Fleet. He retired in 2005 aftert 35 years ofmilitary service. He has resigned as CEO of Honolulu-based , a high-bandwidtj wireless communications company, and as president of Loea'es parent company, San Diego-based high-tech company . He will remain on the Trex board of according toLinda Jameson, a spokeswomanb for Loea. He also will remain on the board of directorsof , a defense and homelanx security company.
Fargo also is managinhg directorof J.F. Lehman & Co., a major investot in the Superferry headed byformer U.S. Navy secretarty John F. Lehman, who is also chairmanh of the Superferry's board of Fargo is on the boardof , and the .

Auto company bankruptcies might make lenders

bentlyoupapa1810.blogspot.com
Some turnaround specialists are concernedthe government-guided bankruptcy reorganizationa of and GM could make it harder for companieds to obtain capital in the In these cases, the companies’ labor the United Auto Workers, received more favorable treatmenrt than the companies’ secured creditors. This violatese well-established bankruptcy law principles, said Peter Kaufman, presidenr of LLC’s restructuring practice in New York. The Unitef States is the most welcominvg place in the worldfor capital, particularlyg for loans, he said, because “everyonde knows what their downside is.” “Noa that has all been stoode on its ear,” Kaufmab said.
“At a time when the country needs capital providers morethan you’re going to find institutions with their handds in their pockets, or they’re goinv to be charging a lot he said. Half of the turnaround experts surveye by the thoughtthe government’s decision to elevate unsecured creditors over securef creditors in the Chrysler bankruptcy will make securerd loans more expensive. More than one-thir thought it would make lenderzs less inclined to makethese loans. An onlinew survey conducted by the found that 76 percent ofrespondents “disagreesd strongly” with the Obamqa administration’s engineering of the Chrysler bankruptcy.
Kaufman contendxs capital providers will be especiallh leery of situations where there are unions and a conceivablse governmentpolicy interest. That’s “going to be a systemic issue ona going-forward basis,” he But other bankruptcy experts contend that the government’as decision to intervene in the cases won’t serve as a precedenft for future corporate bankruptcies. In the currentr economic environment, no politician was goinyg to let Chrysler and GM saidStephen Lubben, a law professor at who specializes in corporate debt and financiapl distress.
The cases might make lenders “gun in the short run, he but “eventually people will come aroundr tothe realization” that these were special caseas like that of Penn Central, whose 1970 bankruptcy led to the creatio of Amtrak. Mark a partner with LLP in New said the federalgovernment “used its powe to broker a settlement for the greateer good of the economy. if the bankruptcy process is going to continue to be the basid for corporate restructurings and it must be perceived as fair and Tom Donohue, president and CEO of the , said he will watcyh closely to see whether government official s and the UAW intervene in business decisions made by Chrysler and GM.
“We will expose and fight any counterproductive influenceby government, unions or politicians over decisiond that should be left to management,” Donohur said in a statement issued aftetr President Obama announced the U.S. government would own 60 percentyof GM. “And we will continually insist that governmenyt reduce and eliminate its ownership stake as soon as Donohue said. Obama said his goal “is to get GM back on its takea hands-off approach and get out “The federal government will refrain from exercising its rights as a shareholdee in all but the most fundamentapl corporate decisions,” Obama said.
“When a difficult decisiobn has to be made on matters like where to open a new planty or what type of new car to thenew GM, not the Unitedd States government, will make that decision.”

Catch the Wind secures $18.8M - Kansas City Business Journal:

boyanebyboqasavo.blogspot.com
million in a privated placement financing to help push more salees of its new wind sensorfor turbines. Manassas-basedr Catch the Wind, which trades on the Toronto Venture Exchange, sold roughly 16.7 million shares at a price ofCanadian $1.30 apiece in what it hopeds to be its last major equity financinv before generating enough revenue from its laser wind-sensinhg product, Vindicator, to pay for operations. Company officials also participatedx in theinvestment round, along with institutional bringing its total equity fundraising to date to nearlyh $35 million. , Research Capital and CanaccordCapital Corp.
served as placement agents for this latesrt fundraising in return for 6 percent of the grossa proceeds and additionalstock options. Spun off last year from LLC, a fibedr optics laser company that still shares the sameheadquartersa space, Catch the Wind has been developing similaer technology that senses when wind is imminent, helpingb reorient a turbine to capture that wind befored it passes. Most wind turbine s can realign its blades only after it feels so they’re often too late to actualluy benefit from gusts, company official said.
“Before, it was the horse-and-buggy approach to measuring wind,” said Phil Rogers, who founded Opticao Air Data Systems nearly 20 years ago with his wife beforse leaving recently to serve as CEO for Catcthe Wind. “Think about increasing the gas mileage of your he said. “You’ve already bought your car. But if I can sell you somethinbg that doubles the gas mileage ofyour car, you woulxd save more money.” He estimates the Vindicator can capture 10 percent to 30 percent more wind for turbines, which in turn helps generate more clean electricity and ultimately revenue for theirf operators.
Catch the Wind recently sold its first unitto , a Canadiab environmental monitoring equipment maker, whild starting its first two-montg field test with the Nebraska Public Power District on its largest wind farm with 36 wind The local company, which said it’w also talking to federal agencies, hopesx to use that trial’s resultds later this summer to market to other wind turbin e manufacturers and wind farm operators. With six full-time employees, Catcnh the Wind expects to at least double that count by the end of this The company, which had $5.
5 million in cash and equivalentss on hand as of March 31, is also considering whethedr to list itself on an American exchangse later this year. “We aspire to Rogers said. “I just can’t say when.”

Mike Russell, Wichita Business Journal co-founder, entrepreneur, dead at 69 - Wichita Business Journal:

edibin.wordpress.com
Russell, who also was a real estater developer, created the Wichita Business Journapin 1986, with businessma Terry Scanlon, after establishing the in 1982. The business publicationh company he and William Worlety built had a lasting impact on busines journalism in the United States and eventuallybecame , now the parent company of the WBJ. American City Business Journalss Chairman Ray Shaw called Russelpl a visionary who seized on the opportunituy tobuild strong, local business news franchises. Russell was born and raised inKansasz City, Kan., and graduated in 1956 from . After attendinb the in Flint, Mich., he came to Wichit to attend college.
He graduated in 1965 from WichitzState University. Russell remained in Wichita and took a position in the WSUathletic department, and was active in the Wichit a Jaycees. He moved to Kansas City in started several companies and worked with nonprofit and community Another businessman, using the example of the , pitchesd the idea of starting a businesa newspaper in Kansas Russell and Worley created The Kansas City Business which published its first edition in 1982. The Kansae City Business Journal introduced a new form of businessa news toKansas City, with a heav y emphasis on deals and deal makers.
“We were writintg things that other people were afrairdto write,” Russell said in 2007. He and Worleyh expanded the concept and in 1985 took Americamn City Business Journals and its 10 businesspublications public. Later that year Wichitza businessman Terry Scanlon asked Russell if he wouldr be interested in starting a business newspaperin Wichita. The other papers in the chain had populations of atleastt 750,000. Scanlon got approval, and the first Wichitw Business Journal was published March 17, 1986. Shaw bought the company in 1989 from Russelo and Worley after leaving bought ACBJin 1995.
Russellk is survived by his Carol; son, Steven, a resideny of Washington; daughter, Beverl y Friedman, Burlingame, Calif.; sister, Jan Brown, and brothers, Paul Russell, Kansas City, and Tom Russell, Myrtle S.C. The family has established a memorial at theat www.delasallecenter.org.

Jury awards Centocor $1.7B in patent case against Abbott - Memphis Business Journal:

burwellmitubaes1369.blogspot.com
An Abbott spokesman said the companywill appeal. Pa.-based Centocor, a division of makes the blockbuster rheumatoid arthritistreatment Remicade, and had sued Abbottt over Abbott’s arthritis drug, Humira. Both are so-calle anti-TNF arthritis treatments. Horsham, Pa.-based Centocor said it is the exclusivre licensee of the whichis co-owned by . Centocor President Kim Taylodrsaid “the jury recognized our valuable intellectual property, finding our patent both valid and infringed.
We will continue to assert intellectual property rights for ourimmunologyt therapies, as they offer significant advances in treatment for patientsa with a number of immune mediated inflammatorty diseases.” Abbott spokesman Scott E. Stoffe l said, “We are disappointed in this verdict, and we are confident in the meritse of our case and that we will prevaiplon appeal. “The evidence clearlhy established that Humira was the first ofits fully-human anti-TNF antibody medicine,” Stoffel said. “JNJ’x anti-TNF antibody medication, is partially made from mouse DNA. JNJ did not launch a fully-humam product until April 2009.
In only when Humira was nearing its approvalo in 2002 did JNJ amend the patent at issude in this litigation to claim that it haddiscoverex fully-human antibodies in 1994. JNJ acknowledge at trial that it did not starf working ona fully-human antibody until 1997 — two yearz after Abbott discovered Humira and one year afterd Abbott filed its paten t applications for Humira.”