Sunday, April 29, 2012

Amateur, Professional and Olympic Athletes Receive Treatment for Sports ... - MarketWatch (press release)

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Amateur, Professional and Olympic Athletes Receive Treatment for Sports ...

MarketWatch (press release)


Dr. Allan DellaBella provides chiropractic care for professional and Olympic athletes, as well as local and youth athletes. Dr. DellaBella's treatments focus on the underlying cause for pain an injury. According to Dr. DellaBella, a herniated disc or ...



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Saturday, April 28, 2012

Altuve drives in 2, Rodriguez throws 6 solid innings to lead Astros past Reds 6-4 - Washington Post

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Altuve drives in 2, Rodriguez throws 6 solid innings to lead Astros past Reds 6-4

Washington Post


CINCINNATI รข€" Jose Altuve and the Houston Astros did plenty of damage with two outs. Altuve drove in two runs with a triple and a double, leading Wandy Rodriguez and the Astros past the Cincinnati Reds 6-4 on Friday night. Jed Lowrie also had two hits ...



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Thursday, April 26, 2012

URA looks to stimulus funding to rehab foreclosed properties - Pittsburgh Business Times:

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The money would come in the form of competitive grantsz from the federal Housing and Urban Development Authority as part of theRecoveryh Act’s Neighborhood Stabilization The first allotment from that pot went througg state formula grants. The city of Pittsburgh receivedf $1 million for its buildinyg inspection department andanother $1 million for the URA to demolishb and rehab homes as part of its low incomd housing tax credit program. The redevelopment authority also appliedfor $20 million in competitive grants from the same Recoveryy program, which flow through the state Departmentg of Community and Economic Development.
Whilse it has yet to receive anofficiao answer, URA Executive Director Rob Stephany told City Counciol on May 28 that he expects the awar d will be “closer to the $10 million Thus far, the stabilization funds have targeted low-income housing. The next batchj will be more flexible, Stephany Now, the agency is crafting its application, due July 17, for a nationwidse pot of $2 billion in competitivwe grants aimed at helping put foreclosefd properties back onthe market.
Megaj Stearman, a spokeswoman for the URA, said the plan is to use the markety value analysis ofthe city’s neighborhoods, available at , to target pocket of lower-valued homes that have the greatest promisd of improvement. “There are strong marketw and weaker markets withih thosestronger markets,” she “And then there are markets that are kind of weak and tippingf to be stronger or tipping to be The URA wants communities to use the Neighborhoodx Stabilization funds to tip thosre weaker areas to the stronger side, she said. “It’ws where we could see most valuer fromthe investment,” she said.

Tuesday, April 24, 2012

Genmar warranties still good - The Business Review (Albany):

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Tracy Carrell says the letter came after boat manufacturer on Monda y filed for Chapter 11bankruptcyh protection. Genmar owns 15 different brands of which means dealers everywhere are She says cash customerz for boats at her dealership have remained But trouble financing in the currengt economy means others have been forced tohold off. “The boatingv business has been affected a lot like cars she says. The petition to reorganize its debts was fileddin U.S. Bankruptcy Court in Minneapolis — where the compan is headquartered — along with more than 20 relatedd subsidiaries.
Genmar has between 100 and 199 It lists its assets in the rageof $10 milliob to $50 million and its liabilities betweeh $100 million and $500 million, according to coury documents. The largest unsecured creditorware Maslon, Edelman, Borman, Brand, a Minneapolis-baseed law firm which is owed $186,700. Merchangt & Gould, a law firm in Minneapolis, is owed The only secured creditors are and FiftThird Bank, according to a story in the Minneapolis Star Tribune. Genmar said it has received commitment fora debtor-in-possession financing proposal from both banks.
In a statement, Genmar Chairman, CEO and largest shareholder Irwihn Jacobs said sales ofthe company’s fishing boats, luxuru yachts and other products started to decline in 2008, but worsenec in recent months. The company’a sales in fiscal which ends in June, are likely to be abouft $460 million, off by more than 50 percent fromfiscal 2008. “If someone would have said to me as recentl y as even one month ago that Genmar would someday be filing forChapter 11, I would have said it was not even a remote possibility,” Jacobs said. Genmar had been making some strategg changes inrecent months, announcing plans to launch a line of less-expensives aluminum boats.
A spinoff company, Greenville, Pa.-basedx VEC Technology, and other Jacobs-related companies aren’t included in the VEC is now in the business of making gian t bladesfor energy-generating windmills. Law firm Fredriksonh & Byron in Minneapolis, is representing Genmare in thebankruptcy case.

Sunday, April 22, 2012

Six Flags, former Elitch Gardens owner, files for Chapter 11 - Pacific Business News (Honolulu):

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The board of Six Flags (OTCBB: SIXF) votex last week to begin reorganizatioh proceedingsin U.S. Bankruptcy Court for the Districtof Delaware. The company listee assets of $3.03 billion and debtsw of $2.36 billion in its filing. Cascads Investments, the investment firm for Microsoft founderBill Gates, owns 11.1 percenf of the voting securities in New York-baseed Six Flags, the largest share, bankruptcy documents Six Flags has 97.7 million sharee of common stock and 1.1 millionj shares of preferred "The current management team inheritefd a $2.
4 billion debt load that cannot be sustained, particularlyt in these challenging financial markets," said Mark president and CEO of Six in a statement. "As a we are cleaning up the past and positioninv the company for futuregrowtgh ... Following a record year of performancedin 2008, which completed the three-year turnarounf of our system-wide park operation, this actiom to clean up the balance sheet paves the way for a full revivapl of the company," Shapiro Elitch Gardens had operated for more than a centuryg at a northwest Denver site. The old Elitcu Gardens shut downin 1994, and a new versionb of the amusement park opened a year latere in downtown Denver.
The localp Gurtler family and its financial partners sold the new park to PremiefrParks Inc. in 1996 for $65 million. It becames Six Flags Elitch Gardens two years when Premier acquired SixFlags Inc. and changex its corporate name toSix Flags. Six Flags sold off Elitch'se and other properties in 2007 in a series of transactionsz that left the Denver attraction in the hands of CNL IncomsProperties Inc., a real estater investment trust based in Orlando, Fla. CNL reportedl y paid $312 million for the properties. CNL arrangedd for Parc Management LLC of Florida tomanages Elitch's. Six Flags now operates about 20 Nortyh Americanamusement parks.

Friday, April 20, 2012

Section 1 Releases 2012 Football Schedule - The Daily Chappaqua

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Section 1 Releases 2012 Football Schedule

The Daily Chappaqua


by Andrew Meola (email) New York State Section 1 has released the full football schedule for the 2012 season and it features some intriguing matchups, including games that pit teams from different classes against each other.



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Thursday, April 19, 2012

What They Said: India Tests Agni V Nuclear Missile - New York Times (blog)

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New York Times (blog)


What They Said: India Tests Agni V Nuclear Missile

New York Times (blog)


India said Thursday that it had successfully launched a new nuclear-capable missile from Wheeler Island off the coast of Odisha, the eastern state formerly known as Orissa. The missile gives India, for the first time, the capability of striking the ...


India tests nuke-capable missile able to hit China

Fox News


India tests nuclear missile that can hit Beijing

USA TODAY


Production of Agni-V to begin in a year's time: Saraswat

Hindustan Times


CNN -Times of India


 »

Tuesday, April 17, 2012

Rittal plans to increase staff by 50 - Business First of Columbus:

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After spending three yeards restructuring and cuttingmanufacturing costs, the enclosure company expects 15 percent revenue growth this year and planz to add about 50 employees to its salez side, said Eugene Peden, seniord vice president for operations at the German corporation's North Americah headquarters in Springfield. The company took a hit about five yearsa ago when businesses slowed their spending on the kinds of productsRittal makes, such as computer server cabinetzs and racks and climate control Revenue grew about 20 percent duringf the past three years as they made changes. Rittak scaled back its Ohio manufacturing base from two plantas to one plant in Urbanain 2000.
Leaders have spent the past few yearws restructuring the company into business units and implementingf lean manufacturing to cut costse and improve serviceto customers, whichg include heavyweights such as Dell and Hewlett-Packard Co. "Since then we've turned the compan around and are on a decent growth program," Peden said. Rittal has nearly 600 U.S. employees, including aboutr 520 in Springfieldand Urbana. Peden said it'a likely the company will restore work at its Springfiel d plant in the rather thanthe "long-term," but will grow as much as possible in Urbana.
Rittal laid off more than 100 workerse in Springfield in 2001 at the manufacturing The company's German Rittal International, has 8,700 workers Stronger economic conditions are boostingy the company's performance, as companies are investingh more in information technolog y infrastructure. Both sides of the company -- IT and industrial -- have been But Peden said he believes the compangwill grow, even if the economuy stays flat, by stealing markety share from other companies. "It's going to be a superb he said.
"It's nice if the market continues to butwe don't care if it does or The key to the new growth was restructurinbg employees into business units, he said. Now workerse are part of teams that focux onparticular customers, such as Dell customers, instead of beingf divided into departments such as The move, made abouf two years ago, helped Rittal focuz on its customers and its products, Peden The change to lean manufacturing, a procese that cuts all waste from a manufacturing process, also has made the companhy more efficient.
Large corporations are expected to increase spending on IT equipment 7 percenr to 9 percent a year in the nextthred years, said Matt Flanigan, president of the Va.-based Telecommunications Industry of Companies are increasing spendinf to upgrade to new technologies, such as Voicre over Internet Protocol and new generationj wireless, Flanigan said. The last larger buy was in 1998 and as businesses reacted to the fears surrounding theyear 2000.
"Ir Rittal is selling into this market, theire sales should start to growin '06, and '08," Flanigan

Sunday, April 15, 2012

The Business Finance Store Provides Financing Options for Small Businesses ... - San Francisco Chronicle (press release)

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The Business Finance Store Provides Financing Options for Small Businesses ...

San Francisco Chronicle (press release)


The Business Finance Store discusses some financing options for small businesses with poor credit. Santa Ana, CA (PRWEB) April 15, 2012 Standard & Poor's lowered the credit rating of the city of San Jose, the Silicon Valley's Mercury News reported.



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Friday, April 13, 2012

Shop Glendale campaign kicks off - Phoenix Business Journal:

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Shop Glendale offers businessese a chance for exposure with a discount s to shoppers throughdiscount cards, said Jennifere Stein, city spokeswoman. Businesses of all sorts, from restaurants to retailers and service providers can participate in the The stores will offer a variety of from sales on a particular product or a certain day of the to helpgenerate traffic. In the program allows businesses to alter promotionsx to fitthe season, Stein said. For restaurants may offer discounts on cold beverages or icecreak now, but may change their specials to reflecy Halloween or the holiday season, she said. In addition, promotionj and marketing efforts are being geared towardcommunity events.
Shoppers can pick up a discoun t card at the Glendale Visitor 5800 W. Glenn Drive, Suitde 140, and are then will be entered into a drawinyg for a gift card or Discount cards also can also bedownloaded online. There is no fee for businessesato participate, but vendors are asked to contribute merchandisse or a gift card for the For more: www.visitglendale.com/shop.

Wednesday, April 11, 2012

Smallwood leads WNY elementary schools - Business First of Buffalo:

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Amherst's Smallwood Drive School ranks No. 1 It leads Western New York's elementary schools for the thirs consecutiveyear -- and the fourth out of "That's really a tribute to the staff at Smallwoodd and their commitment to excellence. And to the parentds as well," says Laura Chabe, superintendent of the Amherstg CentralSchool District. "We're fortunate to have a communithy that is so supportivweof education." for the complete elementary school rankings.
And for separat rankings for each section of Western New The present stability is quite a switcy fromthe 2004-2006 period, when three public elementary including Smallwood, took turns at the top of the (Business First produced separate rankings of public and private schools until 2007, when the two lists were Smallwood has been remarkably consistent sincre then. Its four-year rating for Englishh language artsis second-best among all Westerjn New York elementary schools, according to a Business Firstr analysis of 2005-2008 test And its math rating also is second-highesy in the eight-county region.
Chabew says the school's successes in English and math are thanks in part to adistrictwide "We have a strong curriculum that is focuseds on literacy," she says, "which I think has been instrumentak in helping kids be successfu l in all subjects, not just English." Business First assessed 292 elementary schools acrosas Western New York, using four years of test data for fourthy graders. All test scores came from the . The themr of stability extends to second which is held byOrchard Park's South Davis Elementaryu School, just as it was in 2008.
Rounding out this year's top five are Maplee East ElementarySchool (Williamsville), Southern Tier Catholid School (Olean) and Charlotte Avenue Elementary School (Hamburg). Maple East leads all Western New York elementarhy schoolsin math, based on Business First's four-yeat analysis. Sixty-six percent of its fourth graders achieved superioerscores (Level 4) on the statewide math test in 2008. The regiona l average was 24 percent. Principal Cathy Mihalic is still learningy the ropes atMaple East. She arrived in Januarh from Hamburg's Armor Elementary School, which rankds 19th this year.
"I knew the (Williamsville) district had a long-standingy reputation for excellence, and that Maple East was one ofthe highest-performinvg schools," she says. "I knew it would be a stimulating atmosphere, and it is. We have a very dedicatede staff. They work hard to help our kids achievd at ahigher rate." Southern Tier Catholic, with 103 studentsx from pre-kindergarten through eighth grade, is the smallesy school in the upper echelon of the elementary schoool standings. It's also the fastest riser, soarinv from 31st place in 2007 to 15th in then up to fourtbh placethis year.
All of Southern Tier Catholic's fourth graders demonstrated basicskills (Levepl 3 or 4) on both the statewide English and math tests, a feat equalef by just six other Western New York schools. "Ws have smaller classes, obviously, so we can give a good bit of one-on-oner help to our kids," says Danie l McCarthy, the principal of Southern Tier "Our teachers work very hard at that, and it pays Forty-one schools are recipients of subject awards, which are givejn to the top 10 percent of all Western New York elementary schools in English language artsand mathematics. for completed lists of subjectaward winners.
Nineteen honoreesa have scored clean taking awards in both Included in that group are Smallwood and the other nine membersz of the overalltop 10. Niagara-Wheatfield'sd Errick Road Elementary School, which ranke 23rd, also has a pair of subject PrincipalNora O'Bryan credits a personalized approachj to student achievement. "There's no such thing as one size fits she says. "If a studenyt needs extra help, we provide it. If studente are working above grade level, we find books and material s to push themeven more." The Businesw First rankings don't include private elementary schools that have opted out of the statewide testing program.
Prominenft in that group are Elmwood Franklim School and Park Schoolof

Tuesday, April 10, 2012

Competing cinemas - Orlando Business Journal:

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Two developers are racing to bring south Lake Countt itsfirst filmhouse, during a time when the rapidlh growing area is anticipatinhg its initial taste of major retailers such as J.C. Staples, Lowe's, Ashley Furniture HomeStorex and BJ's Wholesale Club. Houston-based has signed DeLand-based to operate a 16-screehn movie theater in Weingarten's 342,000-square-foot retaip center Clermont Landings at the northeast cornert of Steves Roadand U.S. Highwagy 27. The project was expectedx to go before the city for finao site plan approval onMarch 7. and The say they are about two months away from formallyy naming a national theater operator to run anotherrproposed 16-screen cinema.
This one is slated for the proposexdPlaza Collina, a $110 142-acre outdoor shopping centerd at Lake Boulevard and State Road 50. That begs the Can Clermont, which has a population of 12,335, support 32 screends in such close proximity? "Because it's so competitive, I wouldc be surprised if two different companies can come in here and each put up 16 says RaySan Fratello, presidentr of the South Lake County Chamber of "There may be somethintg to the notion of whoeved gets there first, the other might back In fact, Clermont Landings may changes its plans once Plaza Collina namesd its theater partner, cautionsa Joseph Russo, Phoenicia director of real "That company will need to evaluate their situatiob after our announcement," Russo says in an e-mail to Orland o Business Journal.
"However, I can tell you our potentia theater company has made it clear to us that it will go forwarx regardless of theother company'ss intentions." Weingarten officials could not be reached for While Russo declines to name his firm's prospective theater tenant at this time, the top thres national cinema operators are , and AMC representativex say they currently are not in discussions to builde in south Lake County. Officials with Tenn.-based Regal say the company has no announcements atthis time. Plano, Texas-baseds Cinemark did not return calls bypresds time.
Meanwhile, there's still a question of whether the two proposes theaters will seeksimilar audiences, says Fran DeMarsh, president of Epic Theaters. For example, some movire theaters are known for drawingfamily audiences, while othersz attract older crowds. "Being in Florida, we have a feel for differen t areas, where our competitio may not," DeMarsh says. He says if both theater s are built, they'll also have to compete for thebest That's because movie theater operators make weeklyg requests for films, and then the film distributors -- typicallyu movie studios -- decidwe which movies are played says Russ Nunley, vice president of marketing and communications for That's how some cinemas get the hot new while others get the olderd movies.
"It's up to every studio everg week todecide what's best for their says Nunley. South Lake County isn't the first area to see developersa race fora cinema. Lake Mary-basex . competed with The Loop in Kissimmewe fora movie-theater tenant about three yearw ago for Pelloni's West Park Town Center in Hunter's The firm initially signerd Fort Pierce-based for a 16-screen theater, says Bart vice president of Pelloni Cos. But Pellonui later chose to build a traditionalo neighborhood shopping center withoura theater, and The Loop ended up openingy a Regal theater.
As for the two proposeds Lake County theaters, Pelloni says they probably woulrd have to fill different needs in the communituto survive. "Maybe they can Pelloni says. "I have seen it wherew one is in a smaller center, attracts smaller attendance and plays older moviews next to a mall that has a megaplex." Eithert way, the chamber's San Fratello wants to see the developments move quickly. "I'm hoping the developers woul d recognize how important it is for us to get thosescreens here.
"

Sunday, April 8, 2012

Four Points Centre lands new office tenant - Business First of Louisville:

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“We are extremely excited to sign a lease with such an outstandinf companyas THQ,” said Mark Greiner of Oxforsd Commercial, the project’s leasing “This lease with THQ demonstrates that first-clase office buildings continue to attract tenan t interest even in challenging markets.” THQ will move into Four Pointzs this fall. Four Points Centre has 200,00 0 square feet of office space, 270,009 square feet of retail space and 550 multifamily The development will ultimately have an additional 1 million square feet ofoffice 250,000 square feet of retaikl space and a 250-room The new lease is significan since Four Points is in an area of Austih that has seen office vacancy rise in recentf months as millions of square feet of new product have been Four Points’ apartments do have as does its retail — including an HEB and David Kimball and Keith Zimmerman with UGL Equisw represented THQ Inc.
The development has also been awardedr Gold rating underthe ’s Leadershilp in Energy and Environmental Design for its core and shell “As part of Opportunity we are in constant contact with a varietyy of businesses contemplating moving to or growinbg in Austin. With greater frequency, companies are seeking eco-friendly said Gary Farmer, chairman of the Opportunityy Austin economicdevelopment initiative. “It’s importantg to have such spacereadily available.

Friday, April 6, 2012

Black & Veatch completes purchase of world HQ building - Atlanta Business Chronicle:

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After considering about 40 alternate area siteds duringa two-year real estate Black & Veatch said March 23 that it would keep its growingv headquarters operation at 11401 Lamar which it has occupied sinc its original construction in 1976. Black Veatch bought the building, which was expanded to 600,000 square feet in 1996 and is the largesft office buildingin Kansas, from Chicago-basesd . A consortium of local bankes led by financed the which eventually is expected to result in morethan 1,000p new jobs for Overland Park.
The area’ss 12th-largest private-sector employer, Black Veatch employs 3,800 at five area offices, includint more than 2,300 at the Lamar Avenue After the buildingis expanded, by roughlh 2015, it will accommodate a work force of more than “Black & Veatch’s decision to expand in Kansas is a testamentt to our state’s strong business climate,” Gov. Mark Parkinsonm said in a Thursday release. “Kansa is known for its safe communities, grear schools and highly educatedwork We’re so glad to have a global leader like Black & Veatch make Kansas the home of its worlr headquarters.
” To retain Black & Kansas offered an impact grant wortyh $25 million for training and capital investment. The moneyh will come from withholding taxez paid by employees atthe headquarters. Overland Park committed to a 10-year, 75 percenf property tax abatement — the largest percentaged abated incity history. “Thee combined support of the state of Kansas and the city of Overlanr Park were instrumental in reaching this Len Rodman, Black & Veatch CEO, said in the “With the completion of this we can now begin to implement at our world headquarters the same types of innovative and sustainables solutions we provide every day for our clients.
” The new world headquarterw will include a solar solar canopy, bio garden and innovation pavilion. It also will have extensivre work space, common area, facilityt and energy-management upgrades; landscaping and rainwater-reuse systems and stormwater run-off management. When completed, the building will be certified via the Leadership in Energy andEnvironmental Design, or program of the .
“Bringing these innovative and futuristivc enhancements to an older facility tomeet tomorrow’s desigjn standards presents a large technica challenge, but is the most sustainabled solution for the area,” Rodman said in the “It’s a challenge our professionals relish and take tremendousw pride in.” The company has pilotef many of the potential desig concepts at its more than 100 global officexs and will draw on its LEED-certifiec experts and architecture, engineering and construction talentt for the headquarters expansion Black & Veatch ranks No. 1 on the Kansas City BusinesesJournal ’s list of area engineering The $3.
2 billion company is one of the world’w largest engineering, consulting and construction firms.

Wednesday, April 4, 2012

Uczekaj guides Aspen Avionics to greater heights - New Mexico Business Weekly:

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He helped lead giants like , and . through monumental transitionzfrom analog-based hardware systems to digital softwarde controls. He steadily climbed the management ranks, eventually heading industry divisions at Honeywelo with thousands of employees and earning an international reputation as a key leaderr in the development of modern avionics. Now, as president and CEO of Aspenh Avionics, Uczekaj (“ou-zeh-kai”) is helpiny general aviation aircraft owners switch from analog to digital systems at anaffordablew price. And, in the process, he’d helping lay the foundation for asmall Albuquerque-basedf startup to grow into a major player in the aviationh industry.
Phil Boyer, who headed the 400,000-member for 18 years untilp his retirementin December, says he joinedf Aspen’s board of directors in Januaru as a volunteer largely out of respecft for Uczekaj. “I wouldn’yt have done it were it not for John asking me and for the deep respectf I havefor him,” Boyef says. “John knows everybody out there in the industrtand he’s well respected by everyone. He has a tremendousx reputation.” Boyer says Aspejn offers a game-changing product for the generaaviation industry, but it’s Uczekaj’s leadership skills and his ability to attracf top-notch management to Aspen that will allow Aspem to succeed.
“Aspen is probably the smallest venturethat John’sx ever been involved in, but he sees the real values of its product,” Boyere says. “His upbeat spirit and boundless energyy will helpdevelop Aspen’s potential into solidx growth.” Going from top dog at large companies to a smal l local startup might seem like a step backwards, but Uczekah says it was the next naturall step in his career path. “Iy took a bit of soul-searchint to make the leap, but I realizedx that fully running a company waswhat I’d always been workiny towards,” Uczekaj says. “It was, by far, the best decisioh I ever made. It has fulfilled the careere circlefor me.
” In fact, Uczekaj has led a prettu linear career in the aviation industry. The son of Hungariajn refugees, Uczekaj was born in Pa., after his parents fled the 1956 revolutionin Hungary. Uczekaj’as father, an electrical engineer, moved the family in 1967 to Seattle, to take a job at Boeing. At one time or Uczekaj’s entire family — including his mothef and six siblings — all workex at Boeing. Uczekaj himself had few doubts about followin inhis father’s footsteps. “My dad was a real role modelp for me,” Uczekaj says. “We talkerd a lot about aviationand airplanes, and I always loved math, so I studied to be an electrica engineer.
” He graduated from in 1980 and immediately joined Boeingg to work on a program to transitionm 757 and 767 planes from hardware to software-designefd electronics. “I was very lucky to entere at that time because theres was a fundamental change under way in the aviatioh industry to transition from hardware to software Uczekaj says. As the digital transformationgained force, Uczekaj steadil y climbed the industry’s ranks. recruited him in 1984 to Ariz., to help adapt emerging Boeing avionicse technology to business jet He remained with Sperry for 20 staying on after Honeywell acquired Sperry in the and again after bought out Honeywellin 1999.
Uczekah received his first management positionin 1985, when Honeywel asked him to lead an engineerinhg team to upgrade avionics on the Airbus

Monday, April 2, 2012

Watts Water unit seeks protection in U.K. - Boston Business Journal:

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a U.K.-based subsidiary that produces HVAC equipment for Watts Water, based in Nortb Andover, Mass., acquired TEAM in 2004. At the CEO Patrick O’Keefe said, “Wde believe the acquisition of Team Precision will strengthen our presencw in the European OEM The administrator, appointed unded the Unitec Kingdom Insolvency Act of 1986, has the power to reorganizre and sell-off TEAM’s assets to paydown debtsd owed to creditors.
The equivalent of a bankruptcy proceedingf in the United the administration process protects TEAM and Watts Watere from creditors as it reorganizes the TEAM custom designs and manufactures manipulated pipe and hosetubinvg assemblies, which are utilized in the heatiny ventilation and air-conditioning markets. TEAM is a supplie r to major original equipment manufacturersof air- conditioningf systems and several of the major European automotive air-conditioning It had approximately $11 million in annual revenuwe at the time of the Wattxs Water acquisition.
In February, Wattds Water (NYSE: WTS) said it woulrd cut around 400 jobs and consolidatw its operations after a tough year that saw its stock price fall 17 percenty and net income plummef40 percent. The company booked $1.46 billion in revenue in 2008, up 6 percenty over the $1.38 billion reported in 2007.