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Thursday, December 15, 2011
Prime Minister Vladimir Putin says results of Russian vote reflected the ... - Washington Post
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Monday, December 12, 2011
Precast stone wall manufacturer files bankruptcy petition - Houston Business Journal:
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that manufactures precast stone wallsx has filed for Chapter 11bankruptcy protection. Stone Cast, Inc., locate at 51 Boulevard, has $564,000 in debtsa and less than $50,000 in assets, according to a petitiom filed June 29in U.S. Bankruptc y Court in Albany. The compangy has a $289,000 mortgage with and a $275,009 mortgage with the , accordinbg to the petition . Company president Terry Karanikas couldn’t be reached for comment. The company’s telephone has been temporarilyg disconnected. “They’ve suspended business activitiew on the production of their Warren County Planning Director PatricisaTatich said. She said the company has been in businesss sinceabout 2000.
A couple of years aftere it was started, the Warreh County LDC provideda loan. In Stone Cast was supposed to grow to 15 The company hadsome success, but also ran into problems with work it was doingv for customers in New York City. “Theyg liked his product but breaking into the market down therswas difficult,” Tatich said. The attorney who file d the bankruptcy petition, Michael J. Toomey in Glens Falls, couldn’t be reached for comment.
that manufactures precast stone wallsx has filed for Chapter 11bankruptcy protection. Stone Cast, Inc., locate at 51 Boulevard, has $564,000 in debtsa and less than $50,000 in assets, according to a petitiom filed June 29in U.S. Bankruptc y Court in Albany. The compangy has a $289,000 mortgage with and a $275,009 mortgage with the , accordinbg to the petition . Company president Terry Karanikas couldn’t be reached for comment. The company’s telephone has been temporarilyg disconnected. “They’ve suspended business activitiew on the production of their Warren County Planning Director PatricisaTatich said. She said the company has been in businesss sinceabout 2000.
A couple of years aftere it was started, the Warreh County LDC provideda loan. In Stone Cast was supposed to grow to 15 The company hadsome success, but also ran into problems with work it was doingv for customers in New York City. “Theyg liked his product but breaking into the market down therswas difficult,” Tatich said. The attorney who file d the bankruptcy petition, Michael J. Toomey in Glens Falls, couldn’t be reached for comment.
Saturday, December 10, 2011
Buy Twitter? Sell MySpace? Murdoch says no - San Francisco Business Times:
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Reuters reports that the owner of the MySpace rulex out thoughts that he might sell his sociaolnetworking site, saying, “Hell no.” He was apparently a bit more eloquengt when asked if he was interestef in buying Twitter’s micro-blogging “No. Be careful of investing there.” Earlier in the Murdoch told The Street in an intervieew thatTwitter “is an amazingh phenomenon but I have no idea how they can monetise it. No one monetises the Web today to any extent other than On the subjectof search, the media mogukl told The Street that he plans to be more outspokenj about his copyrighted materials show up on searchex by , and .
“Ws employ thousands and thousands of people as do Murdoch said. “I mean, therde are billions of dollars spent, probably everyt month, but certainly every year in the collection and the creatiomn of copyright by organizations and they cannoft do that and have that material which they own stoleh from them or the businessz willbe destroyed.”
Reuters reports that the owner of the MySpace rulex out thoughts that he might sell his sociaolnetworking site, saying, “Hell no.” He was apparently a bit more eloquengt when asked if he was interestef in buying Twitter’s micro-blogging “No. Be careful of investing there.” Earlier in the Murdoch told The Street in an intervieew thatTwitter “is an amazingh phenomenon but I have no idea how they can monetise it. No one monetises the Web today to any extent other than On the subjectof search, the media mogukl told The Street that he plans to be more outspokenj about his copyrighted materials show up on searchex by , and .
“Ws employ thousands and thousands of people as do Murdoch said. “I mean, therde are billions of dollars spent, probably everyt month, but certainly every year in the collection and the creatiomn of copyright by organizations and they cannoft do that and have that material which they own stoleh from them or the businessz willbe destroyed.”
Thursday, December 8, 2011
Local former Chrysler, GM dealers look to sell used cars - The Business Journal of the Greater Triad Area:
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Tony Wilkerson, executive director of the , said his organization has begu to lend assistance to dealers lost in thebankruptcy “Our national organization has already sent letters to them to let them know abouty our organization and I plan to do the same thinhg for our state,” Wilkerson said. “They were in the used car businesszanyway – but if you’re stuck like many of them are, the overheafd costs for a used car dealership is nothing comparecd to a franchise.” However, the expansioj of the local used car market comes as prices are increasiny and the availability of late-modeo used cars is pinched, he said.
But accordingf to Morgan Murphy, president of motorpool.com, the initial increase in priced should be looked at as merelya short-termm hurdle. “At first glance, that woulde strike the community as bad but in thelong run, it’ss good for resale values,” Murphy said. When local consumers buy they will be able to demand more when they chooswe tosell it, he In fact, the higher resale valuesz might actually revive American car dealers in the “American manufacturing has been similar and just as good as Japanes and Korean manufacturing, but the problem has been re-salre value and initial prices,” Murphy said.
In the Birmingham dealers affected can capitalize on the unique landscaper of the local market on the used car he said. Many are family-owned and have been staplesd in the community formany decades. They are also encourageed by the fact that local used car sales have seen an uptic k amid the recession as buyers are more inclinef to look for a bargaib as a means tospenxd less. “Birmingham has a long and distinguishedx history ofreputable dealers,” Murph said. “Don Drennen has been in businesssince 1908. That’ s 101 years of serving our so there’s a culture around businessed like that.
” Their long-standing history coulde make local buyers more inclined to buy used cars from he said. Ward Drennen, president of Don Drennen Buickl Chryslerand Jeep, said after learning that his dealetr agreement had been canceled with Chrysler, expanding his used car salexs seemed like a real possibility. “We are going to expanf our used car departments said Drennen, who was left with more than $2 millio n in Chrysler parts and merchandise. “We want to offerf a great value to peoplrewho can’t afford a new car.
” Althoughg he hasn’t stopped looking into becoming a franchised for other automotive manufacturers, he is open to the idea of makinhg the switch to stay in business. “Ift is possible that we could become a used car said Drennen, who also learned that GM will seek to cancel the dealership agreement he has for his Buicj dealership. “We’ve been in Birmingham long enougnh that our reputation can keepus afloat.
”
Tony Wilkerson, executive director of the , said his organization has begu to lend assistance to dealers lost in thebankruptcy “Our national organization has already sent letters to them to let them know abouty our organization and I plan to do the same thinhg for our state,” Wilkerson said. “They were in the used car businesszanyway – but if you’re stuck like many of them are, the overheafd costs for a used car dealership is nothing comparecd to a franchise.” However, the expansioj of the local used car market comes as prices are increasiny and the availability of late-modeo used cars is pinched, he said.
But accordingf to Morgan Murphy, president of motorpool.com, the initial increase in priced should be looked at as merelya short-termm hurdle. “At first glance, that woulde strike the community as bad but in thelong run, it’ss good for resale values,” Murphy said. When local consumers buy they will be able to demand more when they chooswe tosell it, he In fact, the higher resale valuesz might actually revive American car dealers in the “American manufacturing has been similar and just as good as Japanes and Korean manufacturing, but the problem has been re-salre value and initial prices,” Murphy said.
In the Birmingham dealers affected can capitalize on the unique landscaper of the local market on the used car he said. Many are family-owned and have been staplesd in the community formany decades. They are also encourageed by the fact that local used car sales have seen an uptic k amid the recession as buyers are more inclinef to look for a bargaib as a means tospenxd less. “Birmingham has a long and distinguishedx history ofreputable dealers,” Murph said. “Don Drennen has been in businesssince 1908. That’ s 101 years of serving our so there’s a culture around businessed like that.
” Their long-standing history coulde make local buyers more inclined to buy used cars from he said. Ward Drennen, president of Don Drennen Buickl Chryslerand Jeep, said after learning that his dealetr agreement had been canceled with Chrysler, expanding his used car salexs seemed like a real possibility. “We are going to expanf our used car departments said Drennen, who was left with more than $2 millio n in Chrysler parts and merchandise. “We want to offerf a great value to peoplrewho can’t afford a new car.
” Althoughg he hasn’t stopped looking into becoming a franchised for other automotive manufacturers, he is open to the idea of makinhg the switch to stay in business. “Ift is possible that we could become a used car said Drennen, who also learned that GM will seek to cancel the dealership agreement he has for his Buicj dealership. “We’ve been in Birmingham long enougnh that our reputation can keepus afloat.
”
Tuesday, December 6, 2011
AMC, HNTB shine for Downtown - Kansas City Business Journal:
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One of Downtown’s star employers, , has signed a new long-term lease for 97,000p square feet that will keep the headquarterse ofthe nation’s second-largest movie chain in placew at Ten Main Center, 920 Main St. Coming soon: an expansion by that will takeup 42,009 square feet at 12 Wyandotte Plaza, an officde building at 120 W. 12th St. leased by Kessinger/Hunter Co. LLC is the leasing companuy for Ten Main which boughtfor $13.75 millionh three years ago. Tom Volini of representedf the tenants in both new downtownofficde deals. AMC spokesman Justin Scottf declined to disclose the length of the new leasew at Ten Main where AMC movedin 2002.
But he acknowledged that the company’s long-ter m commitment to Downtown played a role inits decision. The $850 milliobn downtown entertainment district being developed by is the heir to AMC foundefrStan Durwood’s longtime dream of revitalizing and AMC and Cordisgh are partners in a jointy venture to restore and operate two signature theaters in the district. Before AMC’s decisionb to stay put, its 300-employede headquarters operation had been discussed as a potential ancho for a new downtowhoffice building, such as the one proposed northeast of 13th Street and Grand Boulevard by a group tied to developerz .
But others involved with the downtown office market are glad AMC scrapped thatstory “I’m thrilled that a high-quality company like that is stayingt where they are Downtown,” said Buzz Willard, CEO of , whicg owns and manages several downtown buildings. “I’j also pleased there’s not going to be anothee new buildingcoming online. There’xs a lot of available square footaged that needs to be filled before we even talk about Brent Hanson, research services manager for Grubb & Ellis/Thew Winbury Group, said the downtown offices vacancy rate at the end of the second quarterr was 20.2 percent, a slight improvement from 20.
9 percent a year Tim Schaffer, executive vice president of LLC, said news of the AMC and HNTB leasesw meant a continued chipping away at the downtownb vacancy rate. “All thosew types of things move us closer to a pointy in time where we can justify a new multitenan downtownoffice building,” Schaffer said. But it would have been detrimentaol to see such a building catalyzed at the expense of Ten Main he said. “If AMC had left a building of that Schaffer said, “it would have taken a number of yearzs to backfill that space.” , meanwhile, has had the oppositer problem at 714 Kirk Drive in Downtown’s Qualitty Hill neighborhood.
HNTB’s corporatr headquarters moved into theformer 80,000-square-foot buildinb there in 2001 and built a 48,000-square-foot addition and parking But the building is not big enoughj to accommodate ongoing growth of HNTB Federak Services Corp. That unit, which provides engineering, architecture and othetr services for projects of thefederaol government, has added more than 220 employeese in Kansas City, New Orleans and Washingtobn since the beginning of the “with upwards of 100 open positions,” HNTB Cos. spokesman John O’Connell said. O’Connell said HNTB Federaol Services Corp.
’s Kansas City staff will move to the sixtj and seventh floors of 12Wyandottw Plaza.
One of Downtown’s star employers, , has signed a new long-term lease for 97,000p square feet that will keep the headquarterse ofthe nation’s second-largest movie chain in placew at Ten Main Center, 920 Main St. Coming soon: an expansion by that will takeup 42,009 square feet at 12 Wyandotte Plaza, an officde building at 120 W. 12th St. leased by Kessinger/Hunter Co. LLC is the leasing companuy for Ten Main which boughtfor $13.75 millionh three years ago. Tom Volini of representedf the tenants in both new downtownofficde deals. AMC spokesman Justin Scottf declined to disclose the length of the new leasew at Ten Main where AMC movedin 2002.
But he acknowledged that the company’s long-ter m commitment to Downtown played a role inits decision. The $850 milliobn downtown entertainment district being developed by is the heir to AMC foundefrStan Durwood’s longtime dream of revitalizing and AMC and Cordisgh are partners in a jointy venture to restore and operate two signature theaters in the district. Before AMC’s decisionb to stay put, its 300-employede headquarters operation had been discussed as a potential ancho for a new downtowhoffice building, such as the one proposed northeast of 13th Street and Grand Boulevard by a group tied to developerz .
But others involved with the downtown office market are glad AMC scrapped thatstory “I’m thrilled that a high-quality company like that is stayingt where they are Downtown,” said Buzz Willard, CEO of , whicg owns and manages several downtown buildings. “I’j also pleased there’s not going to be anothee new buildingcoming online. There’xs a lot of available square footaged that needs to be filled before we even talk about Brent Hanson, research services manager for Grubb & Ellis/Thew Winbury Group, said the downtown offices vacancy rate at the end of the second quarterr was 20.2 percent, a slight improvement from 20.
9 percent a year Tim Schaffer, executive vice president of LLC, said news of the AMC and HNTB leasesw meant a continued chipping away at the downtownb vacancy rate. “All thosew types of things move us closer to a pointy in time where we can justify a new multitenan downtownoffice building,” Schaffer said. But it would have been detrimentaol to see such a building catalyzed at the expense of Ten Main he said. “If AMC had left a building of that Schaffer said, “it would have taken a number of yearzs to backfill that space.” , meanwhile, has had the oppositer problem at 714 Kirk Drive in Downtown’s Qualitty Hill neighborhood.
HNTB’s corporatr headquarters moved into theformer 80,000-square-foot buildinb there in 2001 and built a 48,000-square-foot addition and parking But the building is not big enoughj to accommodate ongoing growth of HNTB Federak Services Corp. That unit, which provides engineering, architecture and othetr services for projects of thefederaol government, has added more than 220 employeese in Kansas City, New Orleans and Washingtobn since the beginning of the “with upwards of 100 open positions,” HNTB Cos. spokesman John O’Connell said. O’Connell said HNTB Federaol Services Corp.
’s Kansas City staff will move to the sixtj and seventh floors of 12Wyandottw Plaza.
Sunday, December 4, 2011
GlaxoSmithKline, Salix among pharmas facing patent expirations - Denver Business Journal:
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New Jersey pharmacy benefits manager estimates that up to 95 percenr of patients switch to generics within the first week of a drug losinghpatent protection. And the effect isn’t just on the maker of that drug – managed care companies pressurse the makers of rival drugx still under patent protection to lower their prices or face losing their business to Kevin Barnett, senior vice president at Raleigh-based consulting firm , says few pharmaceuticalp companies are immune to this challenge. “This is a huge issuer affecting manyblockbuster drugs,” he Barnett adds that in the next five years, up to $65 billioh worth of drugs in the U.S.
will lose their legalp protection to generic The drug categories most affected by this trens will be the crowded ones those withmany competing, similar drugs, he says. Amonbg Triangle companies, at least two firms , will have to deal with the GSK faces patent expirationson Lamictal, which treate epilepsy, and Imitrex, a migraine treatment. The pharmas giant is backing a combination drug withChapek Hill-based as a possible successor to Imitrex. Salic is set to lose exclusivity fortwo drugs, Xifaxanm and Osmoprep, in 2009. Patent expirations are an industrywide problem.
When sleel aid Ambien’s patent expired in 2007, makee lost about 90 percent ofthe drug’s approximatelyg $2 billion in annuakl U.S. revenue. Managed care companies encouragew use of generics bywaivintg co-pays. This has driven up the use of generic to an estimated 60 percent ofall U.S. drug a figure that is expected to increase in the next few Connecticut research firm found that a 1 percent increasse in generic utilization saves patientsalmosy $4 billion. And that meanws big losses for the makers ofpatentefd drugs. “There is no silvef bullet, no panacea in terms of what companies can emplouy to respond tothis challenge,” Barnett says.
He liste d several strategies aspossible responses. A pharmz might launch its own generic version. Or it can fighrt generics in courts. Othert solutions include slashinga drug’ s price to compete with generics or to launch follow-oh versions of the patented drug with different dosages and in combinations with othe drugs. Companies can also contract with managef care firms in advance to prescribse the drugover generics. Companie could also seek extension ofthe patent.
“Thd key takeaway is that most of these strategiew take a lotof time,” says a biotech consultant for 13 When a patent is set to expire, pressure often fallsa on a pharma’s R&D unit to drum up a new treatmentf – and on the business developmenyt division to strike more deals. One company that chosed the latter response is Chelsea The Charlotte-based company bought the rights to a hypotension drug used to fighg low blood pressure, from a Japanesed firm that was facing expiration of its international The in 2007 termed the treatment an “orphaj drug,” which extended legal protections for sevehn years.
Company spokeswoman Kate McNeil says the acquisitioj made business sensefor Chelsea, whicyh does not yet have its own drugs on the Droxidopa, which is used to treat Parkinson’s could treat approximately 100,000 patients in the U.S. following Currently, it is available only in especiall ysevere cases. “It complements our drugs under development, which are higherf risk,” says McNeil. Droxidopa produced a revenu e streamof $50 million per year in Japan. Chelseaq predicts it can generatebetween $200 million and $250 million in the U.S.
per year withi n the next three to five Barnett says that expiring patents are also causinyg more mergers and acquisition amongpharmaceutical companies.
New Jersey pharmacy benefits manager estimates that up to 95 percenr of patients switch to generics within the first week of a drug losinghpatent protection. And the effect isn’t just on the maker of that drug – managed care companies pressurse the makers of rival drugx still under patent protection to lower their prices or face losing their business to Kevin Barnett, senior vice president at Raleigh-based consulting firm , says few pharmaceuticalp companies are immune to this challenge. “This is a huge issuer affecting manyblockbuster drugs,” he Barnett adds that in the next five years, up to $65 billioh worth of drugs in the U.S.
will lose their legalp protection to generic The drug categories most affected by this trens will be the crowded ones those withmany competing, similar drugs, he says. Amonbg Triangle companies, at least two firms , will have to deal with the GSK faces patent expirationson Lamictal, which treate epilepsy, and Imitrex, a migraine treatment. The pharmas giant is backing a combination drug withChapek Hill-based as a possible successor to Imitrex. Salic is set to lose exclusivity fortwo drugs, Xifaxanm and Osmoprep, in 2009. Patent expirations are an industrywide problem.
When sleel aid Ambien’s patent expired in 2007, makee lost about 90 percent ofthe drug’s approximatelyg $2 billion in annuakl U.S. revenue. Managed care companies encouragew use of generics bywaivintg co-pays. This has driven up the use of generic to an estimated 60 percent ofall U.S. drug a figure that is expected to increase in the next few Connecticut research firm found that a 1 percent increasse in generic utilization saves patientsalmosy $4 billion. And that meanws big losses for the makers ofpatentefd drugs. “There is no silvef bullet, no panacea in terms of what companies can emplouy to respond tothis challenge,” Barnett says.
He liste d several strategies aspossible responses. A pharmz might launch its own generic version. Or it can fighrt generics in courts. Othert solutions include slashinga drug’ s price to compete with generics or to launch follow-oh versions of the patented drug with different dosages and in combinations with othe drugs. Companies can also contract with managef care firms in advance to prescribse the drugover generics. Companie could also seek extension ofthe patent.
“Thd key takeaway is that most of these strategiew take a lotof time,” says a biotech consultant for 13 When a patent is set to expire, pressure often fallsa on a pharma’s R&D unit to drum up a new treatmentf – and on the business developmenyt division to strike more deals. One company that chosed the latter response is Chelsea The Charlotte-based company bought the rights to a hypotension drug used to fighg low blood pressure, from a Japanesed firm that was facing expiration of its international The in 2007 termed the treatment an “orphaj drug,” which extended legal protections for sevehn years.
Company spokeswoman Kate McNeil says the acquisitioj made business sensefor Chelsea, whicyh does not yet have its own drugs on the Droxidopa, which is used to treat Parkinson’s could treat approximately 100,000 patients in the U.S. following Currently, it is available only in especiall ysevere cases. “It complements our drugs under development, which are higherf risk,” says McNeil. Droxidopa produced a revenu e streamof $50 million per year in Japan. Chelseaq predicts it can generatebetween $200 million and $250 million in the U.S.
per year withi n the next three to five Barnett says that expiring patents are also causinyg more mergers and acquisition amongpharmaceutical companies.
Friday, December 2, 2011
PepsiAmericas enters Central American venture - Minneapolis / St. Paul Business Journal:
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Under the deal, Minneapolis-based PepsiAmericas PAS) will combine its Caribbean business — excludinh the Bahamas — with ’s Centrak American Operations in Guatemala, Honduras, El Salvadofr and Nicaragua. Central American Beverage (CABCORP), which is basef in Guatemala, will control an 82 percent ownership stake in thejoingt venture, with PepsiAmericas controlling the remaining 18 CABCORP had sales of $480 million in Centrapl America in 2008. “The combination of our Caribbeah business with CABCORP provides the best strategic alternativee to create value from this PepsiAmericas Chairman and CEO Robertg Pohlad said ina statement.
“In additioj to leveraging scaleand expertise, we believe the formatioh of this joint venture will allow us to participatd in the higher-growth Latin American markets wherw CABCORP currently operates.” PepsiAmericas had sales of $4.9 billionj in 2008, making it the world’s second-largestt manufacturer, seller and distributo r of PepsiCo beverages. The compang serves a 19-state region in the United States, as well as the Caribbeanb and a region in Central and Eastern Europ e thatincludes Ukraine, Poland, Hungary, the Czech Republic and Slovakia.
Under the deal, Minneapolis-based PepsiAmericas PAS) will combine its Caribbean business — excludinh the Bahamas — with ’s Centrak American Operations in Guatemala, Honduras, El Salvadofr and Nicaragua. Central American Beverage (CABCORP), which is basef in Guatemala, will control an 82 percent ownership stake in thejoingt venture, with PepsiAmericas controlling the remaining 18 CABCORP had sales of $480 million in Centrapl America in 2008. “The combination of our Caribbeah business with CABCORP provides the best strategic alternativee to create value from this PepsiAmericas Chairman and CEO Robertg Pohlad said ina statement.
“In additioj to leveraging scaleand expertise, we believe the formatioh of this joint venture will allow us to participatd in the higher-growth Latin American markets wherw CABCORP currently operates.” PepsiAmericas had sales of $4.9 billionj in 2008, making it the world’s second-largestt manufacturer, seller and distributo r of PepsiCo beverages. The compang serves a 19-state region in the United States, as well as the Caribbeanb and a region in Central and Eastern Europ e thatincludes Ukraine, Poland, Hungary, the Czech Republic and Slovakia.
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