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GM (NYSE: GM) had previously offered a deal for the holder sof $27 billion in debt that would have givenj the bondholders 10 percent of the and those firms rejected that offer that expired May 26. The deal is considere d a major breakthrough in the effort to reach an agreement on a plan to help GM becomes more competitive and emerge from the globakl economic recession as a viable Underthe plan, bondholderxs would own 10 percent of the “new GM” and have warrants that give them the righft to purchase another 15 percent.
“Wed have been informed by the advisors to the unofficialp committee of unsecuredGM noteholders, (financial and (legal counsel), that the unofficial committer and other large noteholders (who collectivelyu hold approximately 20 percent in aggregate principalp amount of the Notes) support the economic terms of the GM wrote in the filing.
Tuesday, July 31, 2012
Sunday, July 29, 2012
DBEDT expects recession to affect Hawaii through 2009 - Pacific Business News (Honolulu):
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The department said in its latesyt quarterly economic report released Wednesday that itexpects 1.6 percent decline in the state’s 2009 grosw domestic product and a 2.1 percent declinde in the average job count for the year. DBEDT said the forecasg for visitor arrivals is unchanged from the previousforecast — a decline of 5.9 percent for the Visitor expenditures are expected to be negatively down 7.9 percent.
“National and international economic conditions continue to negativelyyaffect Hawaii’s economy and this will likely be the case for most of 2009,” said DBEDT Director Ted Liu, in a “We are hopeful the situation will improve late this but recovery is likely to be a graduakl process. We expect that the American Recovery and Reinvestment Act of 2009 will also have a positivde impact beginning in the lattert half of the year and will allows the state to make investments in sometransformationapl changes, especially in the area of Personal income growth has been lowereds to 0.
1 percent for 2009, and afte adjusting for inflation, real personaol income is projected to decrease 1.1 percent. The economyu is expected to stabiliz e in 2010 witha 1.2 percent growth in visitor arrivals and flat real persona l income and real GDP. DBEDT said it expects modesf growthin Hawaii’s economy in with a 4.3 percent increase in visitor arrivals and spending up 7.4 percent. Real personal incom is expected to increass 1 percent and real GDPby 0.9 percent in 2011. The state’xs job count could see a 0.5 perceng increase.
The department said in its latesyt quarterly economic report released Wednesday that itexpects 1.6 percent decline in the state’s 2009 grosw domestic product and a 2.1 percent declinde in the average job count for the year. DBEDT said the forecasg for visitor arrivals is unchanged from the previousforecast — a decline of 5.9 percent for the Visitor expenditures are expected to be negatively down 7.9 percent.
“National and international economic conditions continue to negativelyyaffect Hawaii’s economy and this will likely be the case for most of 2009,” said DBEDT Director Ted Liu, in a “We are hopeful the situation will improve late this but recovery is likely to be a graduakl process. We expect that the American Recovery and Reinvestment Act of 2009 will also have a positivde impact beginning in the lattert half of the year and will allows the state to make investments in sometransformationapl changes, especially in the area of Personal income growth has been lowereds to 0.
1 percent for 2009, and afte adjusting for inflation, real personaol income is projected to decrease 1.1 percent. The economyu is expected to stabiliz e in 2010 witha 1.2 percent growth in visitor arrivals and flat real persona l income and real GDP. DBEDT said it expects modesf growthin Hawaii’s economy in with a 4.3 percent increase in visitor arrivals and spending up 7.4 percent. Real personal incom is expected to increass 1 percent and real GDPby 0.9 percent in 2011. The state’xs job count could see a 0.5 perceng increase.
Saturday, July 28, 2012
Washington has third-highest internet use in U.S. - Memphis Business Journal:
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behind only Alaska and New Hampshire, accordinvg to information released Wednesday bythe U.S. According to the Alaska has the highest rate ofinternet use, with 76.1 percent of its residentsd having access to the internet at any followed by New Hampshire (74. 6 percent) and Washington (73.4 percent). Mississippi has the lowest internet-usage rate (51.r5 percent), followed by West Virginiaw (52.9 percent). The national average is 62.4 percent The Census said that 75.7 percenyt of Washington residents have access to the interner attheir homes, which is third again behind New Hampshire (82.6) and Alaska (78.5) percent, and well aboved the national average of 67.
1 “As access to high-speed connections have become more so too have the number of people that connectg to the internet at home,” Thom a statistician with the Census Bureau's Housing and Household Economic Statisticw Division, said in a statement Wednesday. internet use strongly correspondsto Eighty-seven percent of people 25 and older with a collegr bachelor’s degree used the internet in versus 74 percent for those with only some 49 percent for those with only a high schoolo diploma and 19 percent for thosew who didn't finish high Among age groups nationwide, 73 percent of 18- to 34-year-olds use the 56 percent of people 3 to 17, and 35 percengt of people 65 and older.
Among ethnic groups 73 percent of Asian Americans used the internetin 2007, 69 percentt of whites, 51 percent of blacks and 48 percenr of Hispanics.
behind only Alaska and New Hampshire, accordinvg to information released Wednesday bythe U.S. According to the Alaska has the highest rate ofinternet use, with 76.1 percent of its residentsd having access to the internet at any followed by New Hampshire (74. 6 percent) and Washington (73.4 percent). Mississippi has the lowest internet-usage rate (51.r5 percent), followed by West Virginiaw (52.9 percent). The national average is 62.4 percent The Census said that 75.7 percenyt of Washington residents have access to the interner attheir homes, which is third again behind New Hampshire (82.6) and Alaska (78.5) percent, and well aboved the national average of 67.
1 “As access to high-speed connections have become more so too have the number of people that connectg to the internet at home,” Thom a statistician with the Census Bureau's Housing and Household Economic Statisticw Division, said in a statement Wednesday. internet use strongly correspondsto Eighty-seven percent of people 25 and older with a collegr bachelor’s degree used the internet in versus 74 percent for those with only some 49 percent for those with only a high schoolo diploma and 19 percent for thosew who didn't finish high Among age groups nationwide, 73 percent of 18- to 34-year-olds use the 56 percent of people 3 to 17, and 35 percengt of people 65 and older.
Among ethnic groups 73 percent of Asian Americans used the internetin 2007, 69 percentt of whites, 51 percent of blacks and 48 percenr of Hispanics.
Friday, July 27, 2012
Ypsilanti girl's 'Jeopardy!' appearance to air Aug. 3 - Detroit Free Press
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Ypsilanti girl's 'Jeopardy!' appearance to air Aug. 3 Detroit Free Press ADVERTISEMENT. Ypsilanti girl's 'Jeopardy!' appearance to air Aug. 3. July 27, 2012 |. Comments · Tweet. Email; Print; Share. LinkedIn; Tumblr; StumbleUpon; Reddit; Del.icio.us; Digg. A; A. By Katherine Yung Detroit Free Press Business Writer. Filed ... |
Wednesday, July 25, 2012
J.G. Wentworth raises $100M - Triangle Business Journal:
ofycagvezi.blogspot.com
The annuity and life-insurance policy purchasef had its reorganizationplan OK’d by a Delaware bankruptcy courr judge a week ago, after filing for Chapter 11 protectionh last month. As part of the deal, J.G. Wentworth’w parent, private equity firm , invested $100 million of new equity to supportongoing operations. It also agreed to provide as muchas $35 millioj for the company to buy loans from lenders in exchanges for new preferred interests in the The company said Monday that it has substantially reduced its debt load at the parent holdingv company level while gaining access to new J.G. Wentworth conducted business without interruption during the briefreorganizatioj process.
The Bryn Mawr, Pa.-based company sought acceptancr of its plan from its lendere before what is called a prepackaged More than 90 percent of the term lenders thecompany said. J.G. Wentworth said its decision to file for Chapted 11 came after an extensiv e review of alternatives to address pressuresfrom “extremely challengingf capital markets and high borrowing and was unanimously approved by the company’s boarsd of directors. In December, J.G. Wentworth laid off 120 of its 200 employeees and closed its Las Vegas Foundedin 1991, it moved from Philadelphias to Bryn Mawr in 2003.
The annuity and life-insurance policy purchasef had its reorganizationplan OK’d by a Delaware bankruptcy courr judge a week ago, after filing for Chapter 11 protectionh last month. As part of the deal, J.G. Wentworth’w parent, private equity firm , invested $100 million of new equity to supportongoing operations. It also agreed to provide as muchas $35 millioj for the company to buy loans from lenders in exchanges for new preferred interests in the The company said Monday that it has substantially reduced its debt load at the parent holdingv company level while gaining access to new J.G. Wentworth conducted business without interruption during the briefreorganizatioj process.
The Bryn Mawr, Pa.-based company sought acceptancr of its plan from its lendere before what is called a prepackaged More than 90 percent of the term lenders thecompany said. J.G. Wentworth said its decision to file for Chapted 11 came after an extensiv e review of alternatives to address pressuresfrom “extremely challengingf capital markets and high borrowing and was unanimously approved by the company’s boarsd of directors. In December, J.G. Wentworth laid off 120 of its 200 employeees and closed its Las Vegas Foundedin 1991, it moved from Philadelphias to Bryn Mawr in 2003.
Tuesday, July 24, 2012
Study shows San Antonio is nation's best-performing city in recession - Philadelphia Business Journal:
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The Washington, D.C.-based think tank has begun analyzing the impacty of the recessionthroughourt America’s metropolitan areas. In the first of a series of quarterluyMetroMonitor reports, Brookings ranked San Oklahoma City, Austin, Houston and Dallas as the top five metrlo areas in the country in economic performanced in the wake of the Brookings ranked the top 100 metropolitan areasa based on six key indicators employment, unemployment rates, wages, gross metropolitan product, housing pricess and foreclosure rates. This initial MetroMonito report covers the first quartefrof 2009.
The five worst metropolitan areas in the countr y impacted bythe recession, in descendinf order, are Jacksonville, Fla.; Lakeland, Tampa, Fla.; Bradenton, Fla.; and Detroit. “Alp metropolitan areas are feeling the effects of this but the distress is notsharexd equally,” says Alan Berube, research director of the Metropolita Policy Program at Brookings and co-author of the report. “Whilr some areas of the country have experiencedf only ashallow downturn, and may be emerging from the recessionj already, people living in metro areass that are now performing weakest economically should prepare themselves for a long recoveru period.
” Howard Wial, director of the Metropolitan Economhy Initiative at Brookings and another co-author of the report, arguesw that the report shows that a national fiscak and monetary policy will not be enough for stimulatingv the economy. “Many (metro) areas will need targeter assistance, and since states have no fundsd available, the federal government will have to step up to fill the Concentrations of industry activity have both helpecd and hurts some regional economies duringthe recession.
For metropolitan areas in states with specializations in energ y and governmentemployment — such as New Mexico, Oklahoma, Arkansas and Louisiana — have largelyh been insulated by the However, metropolitan areas in states like Michigan and Ohio that depen heavily on the automotive industry have been impacted by the downtur in the economy, the report San Antonio is home to Randolph Air Forcd Base, Fort Sam Houston, Lackland Air Force Base and Brookse City-Base.
The 2005 Base Realignment and Closures decision alone is providing a significanf economic punch to theAlamok City’s economy through the consolidation of high-payin military health care jobs and more than $2 billionn worth of new construction A separate report released by LLC outlining the impact of BRAC showec that Fort Sam Houston alone would experience a 11,500 increases of personnel. The Army post will also gain 7.9 millionb square feet of space. Construction activity due to BRAC alon shouldcreate 46,000 constructionn jobs during the course of the building the DiLuzio report showed.
The Washington, D.C.-based think tank has begun analyzing the impacty of the recessionthroughourt America’s metropolitan areas. In the first of a series of quarterluyMetroMonitor reports, Brookings ranked San Oklahoma City, Austin, Houston and Dallas as the top five metrlo areas in the country in economic performanced in the wake of the Brookings ranked the top 100 metropolitan areasa based on six key indicators employment, unemployment rates, wages, gross metropolitan product, housing pricess and foreclosure rates. This initial MetroMonito report covers the first quartefrof 2009.
The five worst metropolitan areas in the countr y impacted bythe recession, in descendinf order, are Jacksonville, Fla.; Lakeland, Tampa, Fla.; Bradenton, Fla.; and Detroit. “Alp metropolitan areas are feeling the effects of this but the distress is notsharexd equally,” says Alan Berube, research director of the Metropolita Policy Program at Brookings and co-author of the report. “Whilr some areas of the country have experiencedf only ashallow downturn, and may be emerging from the recessionj already, people living in metro areass that are now performing weakest economically should prepare themselves for a long recoveru period.
” Howard Wial, director of the Metropolitan Economhy Initiative at Brookings and another co-author of the report, arguesw that the report shows that a national fiscak and monetary policy will not be enough for stimulatingv the economy. “Many (metro) areas will need targeter assistance, and since states have no fundsd available, the federal government will have to step up to fill the Concentrations of industry activity have both helpecd and hurts some regional economies duringthe recession.
For metropolitan areas in states with specializations in energ y and governmentemployment — such as New Mexico, Oklahoma, Arkansas and Louisiana — have largelyh been insulated by the However, metropolitan areas in states like Michigan and Ohio that depen heavily on the automotive industry have been impacted by the downtur in the economy, the report San Antonio is home to Randolph Air Forcd Base, Fort Sam Houston, Lackland Air Force Base and Brookse City-Base.
The 2005 Base Realignment and Closures decision alone is providing a significanf economic punch to theAlamok City’s economy through the consolidation of high-payin military health care jobs and more than $2 billionn worth of new construction A separate report released by LLC outlining the impact of BRAC showec that Fort Sam Houston alone would experience a 11,500 increases of personnel. The Army post will also gain 7.9 millionb square feet of space. Construction activity due to BRAC alon shouldcreate 46,000 constructionn jobs during the course of the building the DiLuzio report showed.
Sunday, July 22, 2012
Kansas City Business Journal: Frequently Asked Questions
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A. Although we reference this in ourPrivacy Policy, we have nevert sold/rented/shared our registered user data with any thirc parties, and do not plan on doinhg so in the future. If you woulds like to be added to ourPrivacyt list, please and let us Q. How do I unsubscribe from any or all of the emailk newsletters I receivefrom bizjournals? A. Please visi our unsubscribe page, located Q. I have signed up to receive email newsletterasfrom bizjournals, but have not started receiving Is there something wrong with my account? A. When you added the emai newsletters to youraccount (or made any changes to your you were sent instructions on how to confirm and activate your account changes.
To ensure your we require this step before any changes to your accountr canbe made. To activate your account please Q. I have been receiving email newslettersfrom bizjournals, but now they have How can I continuse receiving them? A. First, you should check with your IT/Technicalk Support group to ensure emailsfrom bizjournals.com are not beingf filtered by the served at your company/ISP. If no filterss are in place, please fill out our "help" form, Q. I neve r received instructions on how to confirmm and activate myaccount changes. A. First, you shouldd check with your IT/Technical Support group to ensure emailzsfrom bizjournals.
com are not being filtere d by the server at your If no filters are in please fill out our "help" form, . Q. How do I changwe my email address, so I can continue to receivre email newslettersfrom bizjournals? A. Please click . Q. What is my password? A. To ensure your we do not keep passwordson file. Please use the " " link located on the " " Q. I've tried using the "forgotteh your password" link however I never received the email with instructionas on how to set up anew A. First you should check with your IT/Technical Supporft group to ensure emailsfrom bizjournals.co m are not being filtered by the serve at your company/ISP. If no filters are in please fill outfor Q.
I've received multiples of emailsafrom bizjournals. How do I make them stop? A. Our systeme are designed to send a singlwe email for every product youare signed-up to receive.I f you are seeing multiples of the same email, this coulrd be caused by a malfunction on your company'ws (or ISP's) emailserver. Check first with your IT/Technical Support group to see if they can reconcilewthe situation. It is also importantg to realize that just becausee an email hasa bizjournals.com "from address" it doesn't mean it was actually sent to you by bizjournals. Many email marketiny groups participate in what is referredf toas "spoofing", where a random emailp address is chosen as theie "from address".
It is also possible that the emaio is a virus sent by aninfectee machine. Viruses will also spoot the "from" address using variations from theinfected machine'w address book. Check with your IT/Technical Supporft group if you are concernedr abouta virus, or Also note: If you have set up multiple onlin e accounts with bizjournals, make sure you are not signed up to receive the same email newsletterw to each account. Q. I saw an article in the print editiojn that I wanted toread online, but I can'g find it through your Search page A. We do not post 100% of the prinyt edition content to theWeb site, but we now offerr a digital subscription in some markets. To find out click . Q.
I have a paid subscriptionm and would like to download the PDF of an issude from mylocal market. How do I do this A. You are able to download a PDF of a recen t issueafter you've linked your subscription to your bizjournal s account. This allows us to verify that you are acurrent subscriber. You can create a Bizjournalzs account and link youraccount . If you have or need help signing up, pleasse email . Q. How can I advertisse on bizjournals? A. You can find online advertisinhginformation . Q. I have a paid subscription to one of your locakbusiness journals. Do I have to register onlinew in order to access thebizjournals site? A.
To ensure the privacy of our printt subscribers, we do not automatically register them on In order to access certain portionxs of thesite and/or sign up for email you will need to fill out the , whicb is free to all As a paid subscriber, you can in ordef to access the exclusive subscribef content. Q. Where can I find the editoriapl calendar for mylocal market? A. Q. Is therew a page where I can check forthis week's stories A. Yes, select from the News menu in thetop Q. When is your web site updated A. The stories from the weekly subscriptionm edition areposted Monday. The daily updated are posted throughout the day by thebusinesse journals. Q.
Why do you wait until Monda y to post the stories from thesubscriber edition?? A. Because the news in our business journalz isexclusive information, we do not want to make it availablre to print and electronic competitors before our paid subscribers receives their journals. Q. Which browsers are best for yoursite ? A. A variety of browsers, but it worksx best with Firefox 1.5 or newer or with Microsoft InternetExplorer 6.0 or newer. If you need to upgradw your browser you can go to eitherf theor site. Q. How far back do your Web archivexs go? A. The Web archivees include all material posted on our Web site sinces it was started inJune 1996.
In Octoberr 1996, we added seven papers to our site Dayton, Milwaukee, Minneapolis, Philadelphia, Sacramento). Q. How do I change my mailing so I can continue to receive my businesjournal subscription? A. You can create a bizjournalsw account and link your subscription account to view your account statux andmake changes. Please click . Q. How can I advertisre in my localprint edition? A. For advertising please contact the of yourlocal Q. I did not receive a copy of my prinyt editionthis week, how do I get an extra copy? A. Pleasde contact the Q. How can I send a Letter to the Editor? to send a letter to the editor. Q. Can you accept press releases? A. Yes, at each individua l paper.
If it's news about your companu or a story tip from the morning we want tohear it. You can , news about your news about your local industry or anews tip. You can send it to us by mail, by fax or by telephoning us. Or you can just fill out the If you're not certain of the persomn to contact, send it in care of the Please remember to include the name of a contact person and a business phone Select a market beloq to send a pressrelease Q. What do I do if I have a question that is not addressed onthis page? A. Please .
A. Although we reference this in ourPrivacy Policy, we have nevert sold/rented/shared our registered user data with any thirc parties, and do not plan on doinhg so in the future. If you woulds like to be added to ourPrivacyt list, please and let us Q. How do I unsubscribe from any or all of the emailk newsletters I receivefrom bizjournals? A. Please visi our unsubscribe page, located Q. I have signed up to receive email newsletterasfrom bizjournals, but have not started receiving Is there something wrong with my account? A. When you added the emai newsletters to youraccount (or made any changes to your you were sent instructions on how to confirm and activate your account changes.
To ensure your we require this step before any changes to your accountr canbe made. To activate your account please Q. I have been receiving email newslettersfrom bizjournals, but now they have How can I continuse receiving them? A. First, you should check with your IT/Technicalk Support group to ensure emailsfrom bizjournals.com are not beingf filtered by the served at your company/ISP. If no filterss are in place, please fill out our "help" form, Q. I neve r received instructions on how to confirmm and activate myaccount changes. A. First, you shouldd check with your IT/Technical Support group to ensure emailzsfrom bizjournals.
com are not being filtere d by the server at your If no filters are in please fill out our "help" form, . Q. How do I changwe my email address, so I can continue to receivre email newslettersfrom bizjournals? A. Please click . Q. What is my password? A. To ensure your we do not keep passwordson file. Please use the " " link located on the " " Q. I've tried using the "forgotteh your password" link however I never received the email with instructionas on how to set up anew A. First you should check with your IT/Technical Supporft group to ensure emailsfrom bizjournals.co m are not being filtered by the serve at your company/ISP. If no filters are in please fill outfor Q.
I've received multiples of emailsafrom bizjournals. How do I make them stop? A. Our systeme are designed to send a singlwe email for every product youare signed-up to receive.I f you are seeing multiples of the same email, this coulrd be caused by a malfunction on your company'ws (or ISP's) emailserver. Check first with your IT/Technical Support group to see if they can reconcilewthe situation. It is also importantg to realize that just becausee an email hasa bizjournals.com "from address" it doesn't mean it was actually sent to you by bizjournals. Many email marketiny groups participate in what is referredf toas "spoofing", where a random emailp address is chosen as theie "from address".
It is also possible that the emaio is a virus sent by aninfectee machine. Viruses will also spoot the "from" address using variations from theinfected machine'w address book. Check with your IT/Technical Supporft group if you are concernedr abouta virus, or Also note: If you have set up multiple onlin e accounts with bizjournals, make sure you are not signed up to receive the same email newsletterw to each account. Q. I saw an article in the print editiojn that I wanted toread online, but I can'g find it through your Search page A. We do not post 100% of the prinyt edition content to theWeb site, but we now offerr a digital subscription in some markets. To find out click . Q.
I have a paid subscriptionm and would like to download the PDF of an issude from mylocal market. How do I do this A. You are able to download a PDF of a recen t issueafter you've linked your subscription to your bizjournal s account. This allows us to verify that you are acurrent subscriber. You can create a Bizjournalzs account and link youraccount . If you have or need help signing up, pleasse email . Q. How can I advertisse on bizjournals? A. You can find online advertisinhginformation . Q. I have a paid subscription to one of your locakbusiness journals. Do I have to register onlinew in order to access thebizjournals site? A.
To ensure the privacy of our printt subscribers, we do not automatically register them on In order to access certain portionxs of thesite and/or sign up for email you will need to fill out the , whicb is free to all As a paid subscriber, you can in ordef to access the exclusive subscribef content. Q. Where can I find the editoriapl calendar for mylocal market? A. Q. Is therew a page where I can check forthis week's stories A. Yes, select from the News menu in thetop Q. When is your web site updated A. The stories from the weekly subscriptionm edition areposted Monday. The daily updated are posted throughout the day by thebusinesse journals. Q.
Why do you wait until Monda y to post the stories from thesubscriber edition?? A. Because the news in our business journalz isexclusive information, we do not want to make it availablre to print and electronic competitors before our paid subscribers receives their journals. Q. Which browsers are best for yoursite ? A. A variety of browsers, but it worksx best with Firefox 1.5 or newer or with Microsoft InternetExplorer 6.0 or newer. If you need to upgradw your browser you can go to eitherf theor site. Q. How far back do your Web archivexs go? A. The Web archivees include all material posted on our Web site sinces it was started inJune 1996.
In Octoberr 1996, we added seven papers to our site Dayton, Milwaukee, Minneapolis, Philadelphia, Sacramento). Q. How do I change my mailing so I can continue to receive my businesjournal subscription? A. You can create a bizjournalsw account and link your subscription account to view your account statux andmake changes. Please click . Q. How can I advertisre in my localprint edition? A. For advertising please contact the of yourlocal Q. I did not receive a copy of my prinyt editionthis week, how do I get an extra copy? A. Pleasde contact the Q. How can I send a Letter to the Editor? to send a letter to the editor. Q. Can you accept press releases? A. Yes, at each individua l paper.
If it's news about your companu or a story tip from the morning we want tohear it. You can , news about your news about your local industry or anews tip. You can send it to us by mail, by fax or by telephoning us. Or you can just fill out the If you're not certain of the persomn to contact, send it in care of the Please remember to include the name of a contact person and a business phone Select a market beloq to send a pressrelease Q. What do I do if I have a question that is not addressed onthis page? A. Please .
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