Monday, August 30, 2010
List of GM dealerships to close in Minnesota grows - Boston Business Journal:
The industry group said a survey of its memberzs found that 109 of the 149 GM dealers in the state will either lose a particular GM be forced to drop some competing manufactureer brands in theirGM stores, or lose theid stores altogether. The number of outright shutdownswhas grown; a month ago, GM indicatecd that 30 dealers would After the giant automaker’s plunge into bankruptcy June 1, roughlty 3,600 dealers nationwide received new sales agreements. The owners of abou 1,350 other dealerships were notified that they needef to wind down asGM franchisees.
That’s in addition to the 1,1009 that received similar messages last month as partof GM’ss restructuring, which involves keeping only top dealersz and brands. The new agreements also may require surviving dealersx to upgradetheir facilities. And there may not be very much dealersa can doabout it, . (subscription required). GM expectse the closings to start this year and wrap up by the fallof 2010.
In a preszs release Friday, Scott Lambert, executive vice president of the Minnesotz AutoDealers Association, criticized GM’s decision to have dealera sign new sales agreements with the “Besides the tragic and inexplicablw shutdown of profitable stores, GM seems determined to use bankruptc as an opportunity to shakw up everybody’s business,” he “It appears to us that everu Pontiac dealer in the state was informed that Pontiacv as a brand will cease to “In addition, GM is eliminatin many Cadillac dealerships. We believe they plan to reassign some of theswefranchises elsewhere, which would be in violatiob of state law regulating franchise agreements.
” Lamberyt also blasted GM’s decisions to close so many even some that are turning a “This company is lost right now. I just don’ty understand how you sell more cars withfewef outlets,” he said. Susan Garontakos, a spokeswomanh for the automaker, declined to comment on the trads association’s press release because she said the information abouyt what was closing was confidential and because its such an emotionall time for all of theparties involved.
She said the companhy selected which dealerships to close after a carefull analysis that beganin “The reality is we don’t have enough customerx buying vehicles and we have a lot of outlets that are in place to support a much largetr market.”
Saturday, August 28, 2010
Zicam maker pulls products, but affirms safety - San Francisco Business Times:
The FDA said it received more than 130 complaintss from consumers saying they have lost thei r sense of smell after usingtthe products. Jennifer Warren, a formefr school teacher who livesin Huntsville, Ala., said she lost her sensr of smell after using Zicam to prevenf the duration of a cold a few yearsw ago, but had nevef complained to the FDA or the companyu because she figured there was no way to prove Zicam caused her anosmia. She said she doesn’gt want to sue Scottsdale-based Matrixx (Nasdaq:MTXX) even afterf learning others have had thesame experiences.
“uI don’t think Zicam was createdc to hurt anyone,” she “We sit here and we rip and we rave about all these drugs not being allowed onthe market. The firstt time anything goes wrong, everybody wants to go sue, sue, sue. That drives me I honestly believe the peoplde were trying to do something to help peopld notget sick.” William Hemelt, acting presidenyt and chief operating officer of Matrixx, said the FDA actionb was taken without reviewing research he woul have been more than willinf to provide. “We thinmk the science does not support this allegationmat all,” he said.
“Quite honestly, we woulrd not be selling the product if we thought it was Zicam products use a homeopathic remedy calledd ZincumGluconicum 2x, which meanas they require FDA approval. Dr. Sam Benjamin, a medicall doctor with a homeopathic license, said he can’rt figure out why the FDA has takenh so long to deal withthe issue. “Io can think of no part of alternative medicine that summonsx up more worry to conventional physiciansthan homeopathy,” said who has a medical talk show on KTAR 92.3 FM on Saturdaysa at 2 p.m. and 1,000 followers on Twitter. “Therre are so many drugs around that cause why would one event want to expose peopld toany danger.
” Brett Berty, a seniort recall strategist at Stericycle Inc. in Lake Ill., is coming to Phoenix this week to meet with Matrixc officials to see if he can help the companh withdamage control. Usually, he said, companies will voluntarilhy recall a product befor e the FDAgets involved. That’s not how it happenec with Matrixx. The FDA steppedx in and warned Matrixzx that it had received more than 130 consumer complainta and that the company needed to stop marketint the product until it can put a warniny label on its packaging that it couldcaus anosmia.
Over the past 10 Berty has worked with manufacturerx to conductabout 1,300 recalls, including “Typically, hopefully, the manufacturer will work with me priodr to approaching the regulatory agency,” he “The most important thing for Matrixx is you can turn a seeminglty awful situation into an opportunity if you’re judged by the public as beingv part of the solution. How swiftly do they execute that will demonstrate their concern forthe public’s safety.” When the FDA sent the warningh letter to Matrixx and advised consumers not to use certaih Zicam cold remedies, on June 16, Matrixx’s stock plummeted 70 percent to $5.78 a share.
It bouncede up a bit to $6.13 a day but nowhere near its 52-week high of near its trading point before the FDA sent the warning For the fiscal year endeeMarch 31, Matrixx reported $13.8 million in net incomwe on $112 million in net up from $10.4 million in net income on $101 million in net sales a year ago. Hemely said he will be meeting with FDA regulatorsw to discussthe issue. He also schedulex a conference callwith
Thursday, August 26, 2010
Goldwater Institute sues Glendale over Coyotes documents - Phoenix Business Journal:
The Coyotes, currently in Chapter 11 bankruptchy reorganization, play at the Glendale-owned Jobing.comm Arena and could move to Canada. The city of Glendal e and are trying to find a new ownet to buy the team from Phoenixs businessman Jerry Moyes and keep the team in thePhoeniz area. That could include a $10 millioh to $20 million incentive from Glendale to help keep the team from The Phoenix-based Goldwater group is criticial of such incentives and business subsidiesw and made a public recordsw request on June 23 to the Glendale city governmen on possible assistance for the new Coyotes owners.
The city governmen t turned down the records request and the Goldwater group filecd a lawsuit over that deniall Friday in Maricopa CountySuperior Court, asking for the recordd to be released. Glendale and the NHL have been in talks with Chicagol Bulls and Chicago White Sox owner Jerry Reinsdorf aboutt possibly buyingthe Coyotes. “The legal action filex today in Maricopa County Superior Court by the Goldwater Institut is without a factual or legal The city has and will continues to honor Arizona Public Records Law and believes that case law supports the position that releasing documente at this time related to a mattefr in bankruptcy court and subject to complec business negotiations are NOT in the best interest of the Glendale officials said ina “The Goldwater Institute’s assertion that the city has said in numerouz media reports that the city plans to offer tax payetr subsidies to potential new owners of the Phoenix Coyotes is The city has stated that appropriate and lega l modification of the existing arena-usd agreement may be Any modification must be approved by the City which will be done in open session and in accordance with law,” the city statemenrt said.
Tuesday, August 24, 2010
Fontainebleau's Soffer caught by Lehman Bros. bankruptcy - Baltimore Business Journal:
“When the retail division of the project lost accesxs to fundingthrough Lehman, it was unable to repay the resorf for its share of costs,” said Scott Baena, of Bilzijn Sumberg Baena Price Axelrod, who representes Fontainebleau Las Vegas LLC in the “That put enormous stress on the resort entity, and that was the beginningb of the problems.” Fontaineblea Las Vegas LLC and two of its affiliate filed bankruptcy petitions in Miami late Tuesday. The Fontainebleauj Miami Beach is not included inthe filing.
also principal with Turnberry construction anddevelopmenty companies, has partial, personalo guarantees on portions of the retail component of the Las Vegae project, but those portions are not in bankruptcyh yet, Baena said. The complex is 70 percent completed. Since Decembetr 2008, Lehman refused to make any advances underthe project’sz $315 million construction loan, according to a motio n to maintain cash management filed in the After Lehman’s refusals, money stopped flowing through the retailp entity to the resort entity. In March, other lenders pulle their financing, and construction on the resortr stoppedin May, Baena said.
The company said in a news releasse that the decision to file Chapter 11 was the result of litigatiojn with the other lenders on projectf aboutnearly $800 million in construction funding for the Other lenders include , JPMorganb Chase Bank and Deutsche Bank Trust Co. Americas. In the shor t term, the company is seeking to stabilizd and protect the finished portion of the Baena said. “It’s no longerf possible to downsize the he said. “The 30 percent remaining constructionn is principallythe interior. We’ve got a lovelyh building waiting tobe finished.
”
Sunday, August 22, 2010
Children's Museum loan to help fund construction - Phoenix Business Journal:
The $1.5 million, 3.5 percent loan puts the Children'as Museum over the top in fundraising for construction of its which triggers a capita contribution by the cityof Phoenix, said Kate Wells, a museu m co-founder and executive directof of marketing and development. The museum is expected to open early next year in the historifc Monroe School at the intersection of Seventh and VanBureb streets. The school is undergoingf a $22.8 million renovation to house the museum, whichg will be 70,000 square feet upon completioh earlynext year. Ground was brokeh last April and some initial interior demolition has been but the new loan will allow full constructiohnto begin, Wells said.
Although Phoenix voters approved a bond that will help renovatsethe building, it's up to museukm officials to raise money and contribute about$2 million toward the project, Wells The building is owned by the city of The city leases it to the a registered nonprofit, at no "A lot of our donors are making pledgews over three to five years. But we don'yt have the cash in hand, and we have to pay our constructionh costs rightup front," Wells said. "Wed don't own the building, so we couldn' t take out a loan usingg the buildingas collateral." "Not-for-profits in general have a hard time getting financing.
Capital is touggh to raise," said Marisue Garganta, director of communituy health integrationfor . The loan is part of an ongoingg effort by Catholic Healthcare West to supporrt the communities inwhich they're located, she said. "Jus t this past year, we've loaned closde to$4 million to not-for-profits," Garganta said. Valley recipientas include BodyPositive, the and Chicanoas por la Causa. In addition to CHW, a 501(c)3 major contributors to the Children's Museum include the and , each of whichy donated $1 million to the Wells said. A $1 million donation also was made byRoberyt Sarver, whose investment group owns the .
Suns Chairmab Jerry Colangelo added $250,000. Sarver and Colangelpo co-chair the museum's capital campaign. Gargantza said she hopes CHW played a role in helpinhg generate suchnoteworthy contributions. "Because we investedf in them, now others believe it's a worthh investment. And our dollars are leveragex farther than even what the loan is she said. The museumk will offer hands-on experiential art for children up to 10 years old. It will focus on all types of with demonstrations andinteractive displays, Wells said. The museum also is partnerin gwith , which will operate an educationa learning lab for a bilingual preschool, Wells said.
"When we we are going to be one of thelargest children's museume in the country," she said. Currently, the in Mesa and the on Jeffersonn Street provide activities and exhibits for childrenbas well. Children's Museum of Phoenix: Catholix Healthcare West: Arizona Science Center: Arizona Museum for Youth:
Saturday, August 21, 2010
Sweden Rescinds Warrant for WikiLeaks Founder - New York Times
Globe and Mail | Sweden Rescinds Warrant for WikiLeaks Founder New York Times LONDON â" Julian Assange, founder of the whistle-blower Web site WikiLeaks who has been embroiled in a fight with the Pentagon over the recent release of classified documents, briefly became the focus of new attention ... Profile: Julian Assange Rape claim against Wikileaks founder Julian Assange withdrawn Sweden drops arrest warrant for WikiLeaks chief |
Thursday, August 19, 2010
President Obama's religion: does your president's faith matter? - Washington Post
ABC News | President Obama's religion: does your president's faith matter? Washington Post "No religious test sh » |
Tuesday, August 17, 2010
Pakistan's Floods Threaten to Take Down the Economy and the President - TIME
The Hindu | Pakistan's Floods Threaten to Take Down the Economy and the President TIME The floodwater took Ehsan Ali and his family by surprise. "At first we thought that the water wasn't so serious," says the farmer, 44, who worked on the rice fields that stretch across Shikarpur ... Imran Khan launches Pakistan floods appeal Pakistani floods could further hurt unstable nation as military focuses on aid How To Help Flood Victims In Pakistan |
Sunday, August 15, 2010
Accused 'Craigslist killer' Philip Markoff commits suicide in Boston Jail - Boston Globe
Globe and Mail | Accused 'Craigslist killer' Philip Markoff commits suicide in Boston Jail Boston Globe Accused âCraigslist Killerâ Philip Markoff committed suicide at Nashua Street Jail in Boston, where he was being held awaiting trial in the slaying of Julissa Brisman, 26, who was visiting from New York, according to ... 'Craigslist Killer' Philip Markoff Commits Suicide Sources: Accused Craigslist Killer suffocated in apparent jail suicide » |
Friday, August 13, 2010
Alvin Greene charged over pornographic pictures - The Guardian
MiamiHerald.com | Alvin Greene charged over pornographic pictures The Guardian An unemployed military veteran who stunned the US political establishment by winning a Democratic primary to contest a South Carolina senate seat has been indicted on criminal charges of showing pornographic pictures to a teenage college student. ... Senate nominee indicted on porn charge Alvin Greene charged in pornography case Longshot US Senate candidate from SC indicted |
Wednesday, August 11, 2010
Top 4 ways to get a flight attendant to go Steve Slater - Christian Science Monitor
ABC News | Top 4 ways to get a flight attendant to go Steve Slater Christian Science Monitor After an altercation with a passenger, JetBlue flight attendant Steve Slater quit his job on the spot and made a heroic (albeit possibly criminal) slide from an exit hatch. Yes, passengers can be incredibly obnoxious. Here's a list of what annoys ... Passenger: NY flight attendant's curses drew gasps Flight attendants vent about passengers Who Could Play JetBlue Flight Attendant Steven Slater in a Movie? |
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Monday, August 9, 2010
Pentagon belt-tightening will cut thousands of jobs - msnbc.com
msnbc.com | Pentagon belt-tightening will cut thousands of jobs msnbc.com Manuel Balce Ceneta / AP Secretary of Defense Robert Gates says tough economic times require the elimination of jobs throughout the military. By ANNE FLAHERTY, ANNE GEARAN WASHINGTON â" Defense Secretary Robert Gates said Monday that tough economic ... US Defence Secretary Gates proposes officer corps cuts Gates Cuts Defense Bureaucracies Gates proposes cutting Joint Forces command from defense budget |
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Saturday, August 7, 2010
British surgeon Karen Woo, due to wed in two weeks, among 10 medics executed ... - The Guardian
CBC.ca | British surgeon Karen Woo, due to wed in two weeks, among 10 medics executed ... The Guardian A British doctor due to fly home today to marry the former soldier she met in Kabul was among 10 medical workers executed by gunmen in a remote area of northern Afghanistan on Friday. Karen Woo, 36, a surgeon from London, was with a group of eight ... Foreign medical workers among 10 killed in Afghanistan Aid Workers Undaunted by Risks, Friends Say Ten medical aid workers robbed, killed in Afghanistan |
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Thursday, August 5, 2010
Senate confirms Elena Kagan to Supreme Court - USA Today
Telegraph.co.uk | Senate confirms Elena Kagan to Supreme Court USA Today By Jack Gruber, USA TODAY By Kathy Kiely, USA TODAY WASHINGTON â" Chief Justice John Roberts will swear in Elena Kagan as the nation's 112th Supreme Court justice on Saturday, making one-third of the nation's highest court women for the first time in ... Kagan and Roberts: Similar Paths, Poles Apart |
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Tuesday, August 3, 2010
At Company, a Culture of Family and Charity - New York Times
CBC.ca | At Company, a Culture of Family and Charity New York Times Even as it expanded into one of Connecticut's largest wholesalers of beer and wine, and even as its employee count swelled past 100, Hartford Distributors remained a close-knit company, owned and operated by the same family for ... Employee kills 8, himself in Connecticut shooting rampage 'Cold as ice' Conn. beer deliveryman kills 8, self Nine killed in Conn. shooting rampage |
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Sunday, August 1, 2010
BP aims to plug gulf oil well for good with two-pronged 'kill' shot - Washington Post
Kansas City Star | BP aims to plug gulf oil well for good with two-pronged 'kill' shot Washington Post BP, the government and an army of volunteers are fighting to contain and clean the millions of g » |
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