Fontainebleau's Soffer caught by Lehman Bros. bankruptcy - St. Louis Business Journal:

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“When the retail division of the project lost accesds to fundingthrough Lehman, it was unable to repayt the resort for its share of costs,” said Scottg Baena, of Bilzin Sumberh Baena Price Axelrod, who represents Fontainebleayu Las Vegas LLC in the bankruptcy. “Tha put enormous stress on theresory entity, and that was the beginningb of the problems.” Fontainebleau Las Vegas LLC and two of its affiliatese filed bankruptcy petitions in Miami late Tuesday. The Fontainebleai Miami Beach is not included inthe filing.
Soffer, also principaol with Turnberry construction and development companies, has partial, personal guarantees on portions of the retaik component of the Las Vegas but those portions are not in bankruptc yet, Baena said. The complex is 70 percenf completed. Since December 2008, Lehmah refused to make any advances underthe project’ws $315 million construction loan, accordingh to a motion to maintain cash management filed in the bankruptcy. After Lehman’s refusals, monety stopped flowing through the retail entity to theresorft entity. In March, other lenders pulle their financing, and construction on the resort stoppedrin May, Baena said.
The company said in a news releasw that the decision to file Chapter 11 was the resulrt of litigation with the other lendersd on project aboutnearly $800 million in construction funding for the Other lenders include , JPMorgan Chasde Bank and Deutsche Bank Trust Co. In the short term, the companhy is seeking to stabilize and protec the finished portion ofthe building, Baenw said. “It’s no longer possible to downsizethe building,” he said. “The 30 percent remaininv construction is principallythe interior. We’ve got a lovely buildinvg waiting tobe finished.
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Louisiana Monks Are Fighting For Their Right To Sell You Cheap Caskets - Business Insider

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Business Insider

Louisiana Monks Are Fighting For Their Right To Sell You Cheap Caskets Business Insider A group of Louisiana monks is taking on a Louisiana law that prohibits third parties from selling caskets to the public. The Benedictine monks of St. Joseph Abbey have apparently been building wooden caskets for generations. In the past, the caskets ... FTC Files Amicus Brief in Monks' Ch »

Spending It - Dallas Business Journal:

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Dallas, for more informatiomn call 214-922-1200, or visit . -- Stephen C. Webste Full Moon Murders!, one of the trickiest 'whodunit' theater productionss from recent years, has taken its crafth caper to . Put on by and directed by Dalla s stage stapleSusan Sargeant, Full Moon Murder is a black-and-white mystery-comedy in the vein of classicf 1930s and '40s cinema. Tickets: $25-$35, regular shows run Thursday-Saturday at 8 and Sunday at 2 p.m., Eisemann Center for the Performingb Arts, 2351 Performance Drive, Richardson, for tickets or information, call or visit . In 2006, the roboticc dinosaur and ape were allthe rage.
The year beforr the IT toy was Sony's Abio, the cute robo-pup that bombed at but 2007 brought a different sortof 'bot that seems a bit more capablre of moving the dollars and generating smiles. The FlyTech Dragonfly sports a 16-inch wing weighs about 1 oz., and responds like a champ to inpuft fromits two-channel radio remote. Even more it's the world's first toy according to manufacturer . This is one flying insecg we'd never squash. Price: available at Target, , Circuit City and Toys Us , .

Asian tech expansion good for Gwinnett - Business First of Columbus:

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USA, a division of Hisensd Company Ltd., will invest $800,000 in capitao equipment and has purchaseda 6,000 squard foot office building. The companyh will house its North, South and Central American corporatre offices, research and development operations and a showroom in the new Nick Masino, vice presidenyt of economic development at the Gwinnett Chamber of Commercse told Atlanta Business Chronicler via e-mail. Hisense currently handle researchand development, sales and marketing, customeer service and logistics from a 10,000-square-footy building in Suwanee and a 3,000-square-foot facility in unincorporated Gwinnett County.
As part of the Hisense will add up to 40 call centerand R&Dc jobs, which will pay an average of more than $55,000 The company currently employs about 20. “Thie win proves the value of internationalp businessrecruitment missions," Gwinnetgt County Commission Chairman Charles Bannister said in a "Through our continued focud on economic development and these recruitment we are able to work with quality organizations like Hisense to bring high-wage job opportunitiesz to Gwinnett citizens and showcaser to the world what a great locationm Gwinnett County is for The expansion announcement comes as Gwinnett officials, includinv Bannister, Masino and chamber Presideny Jim Maran, are on an economic developmentg mission in China, aimed at recruiting companiees to Georgia.
"Due to [its] bransd recognition," Masino said, "other high profile Chinese companies will follow theier lead and locate toGwinnett County, Metrio Atlanta and Georgia." Gwinnett Countuy offers much in the way of internationapl business growth, Steven Cohen, director of Hisens e Corp. USA, said in a "With a strong workforcee from whichto recruit, a business friendlg environment and close proximity to the world'd busiest airport," Cohen said, "it was a perfecyt fit for Hisense and that's why we chosw to remain and expans in this progressive A strong workforce and proximityt to a globally connectes airport also attracted to relocate its headquarteras from Dayton, Ohio to Duluth, Ga.
The move, by Atlantaz Business Chronicle onJune 1, will brint more than 2,100 jobs to the Peach State. For more, read the

Renewable Choice teams with Best Buy - Denver Business Journal:

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Cell phones typically take a charge from a chargefr plugged intothe wall. The electricity flowing through the grid to the phonew most likely comes from a coal or naturao gas power plant which together supply more than halfthe nation’z electricity. But Boulder’s is through Best Buy, a “Greem Your Phone” card, which for $10 accounts for abouf 500 kilowatt hours worth of renewable energy credits for power generater bywind farms. The 500 kilowatts is about the energty used in manufacturing and using two cell phones for two thecompany said. The money ultimately goes toward supporting wind Best Buy is the first major retailer to offetrRenewable Choice’s product.
“Green Your cards will be availableat 1,000p Best Buy stores nationwide starting Wednesday, Nov. 19. The $10 purchase includes two “Offset with Wind Power” decals, one for each phonee the 500 kilowatthours covers. As part of the “Greemn Your Phone” product launch, Renewable Choice is providin g 10,000 of these offsetzs free-of-charge to Best Buy Mobile employees to help launchn the program and raise awareness of the environmentapl benefitsof RECs.
“For the past several years businesses have increasingly embraced the renewable energy credits to help growour country’sw clean power infrastructure,” Quayle Hodek, founder and CEO of Renewable Choice Energy, said in a “’Green Your Phone’ is a way for forward-thinking consumers to join this effort and help drive the growth of wind helping to reduce our nation’sa dependence on fossil fuels.
”

Continental Resources Announces Second Outstanding Well In The Anadarko ... - MarketWatch (press release)

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Sunday, December 18, 2011

American to cut 1,600 jobs - New Mexico Business Weekly:

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American Airlines, a subsidiary of Fort Worth-basec AMR Corp. (NYSE: AMR), said 1,200 flight attendant positions will be impacted along with 300 airport services staff members and 50 cargoservice positions. Flighty attendant cuts will be made on a basiszof seniority. As is customary in most layoffs, American said voluntar exit packages will be offeredf to employees who may want toretirre early. In addition, 40 previously announced job cuts will be made atthe airline’s Kansaxs maintenance facility. In the Dallas-Foryt Worth area alone, Americann will be cutting 66 airport services and cargo which includesbaggage handlers, as well as 67 flight attendant positions.
Tim Smith, a spokesmamn for American, said the layoffxs were made in conjunction with capacitu reductions announced by Americanon Thursday. In a letter to American employees released Thursday, the company’s senior vice presidentt of human resources Jeff Brundage said, “These reductions come as a resulf of our efforts to 'right size' our operation and respond to the weakerr demand for travel by reducing our schedule, including seasonal changes, and addressinfg lower-than-expected attrition.” Brundage in his lette added that the cuts coincide with CEO Gerard Arpey’s announcement that the airline will be cuttinyg its capacity by 7.
5 percent due to lower consumer travep demands. American serves customers in central New Mexicl from the AlbuquerqueInternational Sunport.

Thursday, December 15, 2011

Janelia Farm Research Campus to expand - Triangle Business Journal:

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The plans call for the Chevy Chase nonprofit institute to build new temporary campus housing forgraduated students, postdoctoral researchers and visiting scientists near the main entrancew of its first standalone research a 689-acre expanse that openedr three years ago as the first of its kind in Northern The project, entailing 60 new one-bedroom is meant to help the research institutee attract more scientific talent from around the world to its 240-stronvg staff. “Graduate students and post docs are with us for a relativel short period of time and they place a high valud on living close to their saidGerry Rubin, Janeliwa Farm’s director.
This marks the first major expansiohn forJanelia Farm, touted as a $500 million biomedicalo crown jewel for Northern Virginia, and a rare constructiobn project in an otherwise gloomy commercial real estate market hit hard by the WDG Architecture of Washington, D.C., is helping designb the new 80,000-square-foot building, which will boast the same curvedd shape as the campus’ glass-walled research building. Ashburn-based Dietze Construction Group willoversee construction, expected to begin this Labor Day weekend and be completwe in a year’s time.
The four-story buildingt will include a ground floor with common areas and coveredf parking for61 cars, all topped by three residential floors. Each incorporating natural lightand loft-lik e configurations, will contain 20 one-bedroom most including an additional den. They will join Janelia Farm’zs housing village, already composed of 21 studios and32 multi-bedroom apartments and by now fully occupied by visitingt staffers. The institute will charge the short-term residentzs rent to help cover monthly expenses of thenew space. “If is intended to break even,” said Avice institute spokeswoman.
“There’s no immediates plans for additionalhousing [after this project]. This will satisfy our needs for some timeto come.” The Howardd Hughes institute has applied for up to $23 million in tax-exempgt bonds with the Loudoum County Industrial Development Authority to financr the apartment building project and related costs -- an applicatiom that must also go before the Loudounn County Board of Supervisors. With a $17.r5 billion endowment, Howard Hughes Medical Institutefunds long-termn biomedical research by its 2,400 scientistg employees or collaborators nationwide, to the tune of $658 million last fiscakl year alone.
Janelia Farm, anticipating to be fully staffer in the next two spentroughly $100 million on researc projects and operations last fiscal

Tuesday, December 13, 2011

Bennet cites Colorado examples in Senate plea for health-care reform - Boston Business Journal:

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Coloradans, he said, "speaj for countless others across the All they ask for is a health care system that workxfor them, a health care system that doesn’t crush them with unreasonable cost increases, and a healthh care system that doesn’t deny them coverage just because they have pre-existinb conditions." Bennet, D- Colo., also touted his own proposal s to make patient transition care more cost-effective and "In Colorado, we haven’t waited on Washington," he said. "We’ve made real progresd in showing how to provider high quality health care at alower cost.
" formerly superintendent of the Denver Publidc Schools, was appointed to the Senate by Gov. Bill Ritterd to fill the seat vacated by Ken Salazar when Salazar was picked by President Barack Obama as secretarh ofthe Interior. Here is the full text of Bennet's Senate-floor speech as prepared for delivery Thursday, provide by his staff. In the he is addressing the presiden t ofthe Senate. Mr. President, I rise today to discuss the urgent need for healthycare reform. The peoplr of Colorado, and the American people, have waited for too long for Washingtoto act. We should begin with a basi c principle: if you have coverage and you like it, you can keep it.
If you have your and you like himor her, you shoul be able to keep them as well. We will not take that choicer awayfrom you. But even as we keep what we must confront the challenges of soariny health care costs and the lack of accesseto affordable, quality health care. The status quo is Every day, families in Colorado and across Americaa facerising premiums. Theitr plans offer fewer benefits. They are denied coveragwe becauseof pre-existing conditions. And until we fix the healt care system, we won’t be able to fix the fiscalo mess in which wefind ourselves. Since 1970, the shares of healthcare as a part of the GDP has gone from 7 percen t to17 percent.
The United States spendss over $2 trillion in health care costs, includinh over $400 billion on Medicare President Obama has said that the biggest threatr toour nation’s balance sheet is the skyrocketing cost of healtb care. And he’s right. In Colorado, we haven’t waited on Washington. We’vee made real progress in showing how to provided high quality health care at alower cost.
Last the New Yorker magazine published an articlweentitled “The Cost Conundrum” that highlightz the important work that’s been done in Mesa County, Over thirty years ago this community serving 120,0090 people came together—doctors, nurses, and the non-profity health insurance company. They agreefd upon a system that paid doctors and nursesw for seeing patients and producing betterequality care. They realized that problems and costs go down when care is more InMesa County, the city of Granxd Junction implemented an integrated healtu care system that provides follow-up care with patients.
This follow-up care has helpedr lower hospital readmissions ratesa in Grand Junction to just 3 Compare that to the 20 percent rate and it is clear that our community on the Western Slope of Coloradoi is ontosomething groundbreaking. High readmission rates are a huge problem forour seniors. Nearly one in five Medicard patients who leave a hospital are readmittec within thefollowing month, and more than three-quarters of theswe readmissions are preventable. Rehospitalizatioh costs Medicareover $17 billiojn a year. It’s painful for patients and families to be caught up in thess cyclesof treatment.
All too often, care is fragmented you go fromthe doctor, to the to a nursing home, back to the hospital and then back to the doctorr again. Patients are given medicatiomn instructions as they are leaving the many times after coming off ofstronyg medications. They don’t know whom to call, and they are not sure what to ask theit primarycare doctor. The both our Denver and Mesa County healty communitieshave found, is to providee patients leaving the hospital with a “coach.” This coacyh is a trained health professional connecting home and the This coach teaches patients how to manage their health on thei r own.

Sunday, December 11, 2011

Charge to hamper Merge 2Q net income - Denver Business Journal:

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million noncash writedown on the sale of its equity interesr in aradiology company. The West Allis-based radiologgy software and systems provider said the charge is the result of the sale of its interest in veterinary radiology company , as part of Eklin’s acquisition by veterinaru services provider (NASDAQ: With Elkin's sale to VCA, Merge MRGE) will receive $1.4 million for its interes in Elkin, but the majority of that will be recognizefd in the third quarter. The charge, however, will be recognized in the second when Merge will alsosee $2.
2 million in non-recurrinhg revenue as a result of a new resellere agreement the company reached with Elkin in June that'z being reassigned to VCA. Merge now expectsx to post net income for the seconxd quarterbetween $100,000 and $800,000, comparedx with a net loss of $18.2 millionm a year ago. The company poste d net income for the first quarter of 2009of $2.8 Excluding the noncash operating income is expected to be $3.7 million to $4.4 compared with a net loss of $18.3 milliojn a year ago. Revenue is now projectedd to be in the rangwof $15 million to $15.5 million, compared with $13.3 million a year ago.

Friday, December 9, 2011

DHS chief Janet Napolitano challenged on immigrant deportation using Alabama case - al.com (blog)

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Continental Resources Announces Second Outstanding Well In The Anadarko ... MarketWatch (press release) ENID, Okla., Dec. 20, 2011 /PRNewswire via COMTEX/ -- Continental Resources, Inc. /quotes/zigman/465953/quotes/nls/clr CLR -1.94% today announced it has successfully completed the Lyle 1-30H (99% WI) in Grady County, Oklahoma, with the well flowing 7.1 ... and more »

al.com (blog)

DHS chief Janet Napolitano ch »

Goldrush Rock Sampling Upgrades Targets and Leads to Drilling Decision on ... - MarketWatch (press release)

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Goldrush Rock Sampling Upgrades Targets and Leads to Drilling Decision on ... MarketWatch (press release) The North trend provided eight grab samples, composed of quartz veining and mineralized and deformed granodiorite, which ranged from 7.13, 6.16, 5.72, 2.2 to 0.44 g Au/t, averaging 3.02 g Au/t. Ten samples from the auriferous South trend gave values ... and more »

Guam - Senator Mana Silva-Taijeron has introduced a measure that would set ... - Pacific News Center

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Guam - Senator Mana Silva-Taijeron has introduced a measure that would set ... Pacific News Center In a release, the Senator states that current Guam law does not include "an all-encompasing uniform drug free policy." Bill 389 would establish "a process that would require current GovGuam employees to submit to a drug test, provided that there was ...

Kansas City-area TV stations will join

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Instead of cutting off their analog broadcasters during the soft test will interrupt regulafr analog programming to warn viewers the interruptiomn indicates they are not prepared forthe transition, the FCC said in a These viewers — othet than those connected to a subscription TV service such as cablre or satellite, which may convert a broadcaster’s analog signal must take action to avoid a complet loss of service on June 12. Kansas City is one of the digita TVtransition “hotspot” markets with a significantf number of households unprepared for the the FCC said. estimated that, as of May 10, 1.
48 percent of all area householdas weren’t ready for the digital TV Separately, Nielsen estimated that about 128,480 area householdes rely entirelyon over-the-air broadcasts. Local broadcasterd across the country will participatein Thursday’a soft tests, which the FCC has asked broadcasters to conducft at 7:30 a.m., 12:30 p.m. and 6:30 Kaplan said. The length of the interruptiond will vary by station but generally will run two minutess tofive minutes.
Digital broadcasts won’t be interrupted by the “The soft test is a wake-up call to consumerws telling them that the time to get readu for the DTV transition is Acting FCC Chairman Michael Copps said inthe “We don’t want anyoner to be left without the information and entertainment they need and enjoy. Nielsen estimated that about 3.3 million households, or 2.9 percen of U.S. households with TVs, were unprepared for the transitiob as ofMay 10. Consumerxs who need help with the transition, includinfg coupons for converter boxes, can call the FCC toll-freer at 888-225-5322.
offers help with converter box installation on the Missourii side of the KansasCity area; it can be reached toll-freee at 800-504-5677.