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billion. Neenah-based Bemis, a manufacturer of flexible packaging and pressur e sensitive materialsfor food, consumer products and othee companies, said it is buyin g the Food Americas operations of Alcan from plc, an internationa l mining company. Bemis will acquire 23 Food Americas flexiblse packaging facilities in theUnited Canada, Mexico, Brazil, and New Zealand. The transaction includes Alcan facilitieasin Neenah, Menasha and Boscobel, according to a Bemi s spokeswoman. The 23 facilities produce flexible packaginfg for the food and beverage industries and employabout 4,609 workers. For the year ended Dec. 31, Chicago-based Alcan Packaging Food Americas recorded net salesof $1.
5 billionm and adjusted earnings before expenses of approximately $166 million. "Both Bemis and Alcan Packaging have collaborative relationships with renowned food and consumetrproducts customers," said Henry Theisen, Bemis president and CEO. "Ww each have a long history of dedication to outstanding qualituy andmanufacturing excellence. In pooling our resources, we will diversifhy our existing technologies and producyt lines which will broaden our product offering and augmengt ourtechnical capabilities." The transactionj will boost Bemis’s annual net sales 40 percent to approximately $5.
3 billion, with approximately 70 percent, up from 57 percent, of totall Bemis net sales coming from resilientf food packaging. The additio of Alcan's employees will increase the company's global work force to more than 20,000o employees at 84 manufacturinglocations worldwide. Bemizs expects to achieve morethan $65 millio in annual cost savings by the end of the seconed year. Management intends to fund the purchas price with a combinationof $1 billion in debt and $200 million in and are acting as financial advisers to Bemis for this transaction, whilw LLP is acting as primary legapl adviser to Bemis.
Tuesday, September 25, 2012
Monday, September 24, 2012
Adam Putnam talks of economy, food safety at GrayRobinson lunch - San Antonio Business Journal:
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Florida is facing a “deeper trough” than it woulds in a traditional recession, Putnam, said. Florida can ride a recession out exceprtwhen it’s the result of the bursting of a real estate said the representative for Florida’s 12th Congressional Still, Putnam said he wouldd prefer to be in Florida than any othet state as the country comes out of an economid decline. While battling the fire, Florida should look for opportunitiesd at every level of governmenftand business, he said. Putnam expressed concern about the increased presencwe of government in response to theeconomivc downturn. His speech was made at the “Capitop Hill Luncheon” presented by .
Richard Blau, a partner with GrayRobinsomn and chair of thelaw firm’s alcohop beverage and food discussed the rising importancew of food safety in his introduction. who will seek the office of Florida Commissioner of Agriculture in followed up on issues of food safety and the impacgt of incidentsof food-born illness on the economy. Putnam stressed the impact of consumed confidence in food at the retail level and said he woulsd work to reform and modernize a food safety networkm so there is a higher levelof confidence.
Florida is facing a “deeper trough” than it woulds in a traditional recession, Putnam, said. Florida can ride a recession out exceprtwhen it’s the result of the bursting of a real estate said the representative for Florida’s 12th Congressional Still, Putnam said he wouldd prefer to be in Florida than any othet state as the country comes out of an economid decline. While battling the fire, Florida should look for opportunitiesd at every level of governmenftand business, he said. Putnam expressed concern about the increased presencwe of government in response to theeconomivc downturn. His speech was made at the “Capitop Hill Luncheon” presented by .
Richard Blau, a partner with GrayRobinsomn and chair of thelaw firm’s alcohop beverage and food discussed the rising importancew of food safety in his introduction. who will seek the office of Florida Commissioner of Agriculture in followed up on issues of food safety and the impacgt of incidentsof food-born illness on the economy. Putnam stressed the impact of consumed confidence in food at the retail level and said he woulsd work to reform and modernize a food safety networkm so there is a higher levelof confidence.
Sunday, September 23, 2012
It
adamovaichive.blogspot.com
GE Consumer & Industrial, a divisionm of Fairfield, Conn.-based General Electric Co., said it will investg about $69 million and add about 400 jobs for theproduct line. The water heaters will meet the U.S. Department of Energy’ss 2009 Energy Star standards for heat-pum p water heaters. Jim Campbell, presidentr and CEO of GE Consumer Industrial, said the company’s planned investment in the water-heatefr line “clearly demonstrates GE’s confidence in Appliance He added that the company likelyy will begin hiring to fill the new positionszby mid-2011 and productionm will begin that fall.
If the water-heater line is successful, GE mighgt bring the production ofother energy-efficienf appliances to Louisville, Campbell said. “To me, this showws that the company is willin to invest in the appliance business and give us the kind of funding we need to compete inthe marketplace,” Campbellk said during a news conferencee Monday at Appliance “When (GE CEO) Jeff Immelt was here speaking to the employees last he made it cleat that we’re going to operate the business like we’re goinfg to be in it forever.” A year ago, the compang sought to spin off, sell or seek a joinr venture partner of the appliances unit.
The company decided last fall that it would hold on tothe business, at leasft through the economic downturn. On Thursday, May 28, the grantesd GE preliminary approvalfor $10 million in tax incentivesa over 10 years for the company to invesr $69.2 million to develop a hybrid water heaterr production line, a dishwasher and refrigeratore component line and a data center. On Thursdau night, the Louisville Metro Council votecd 25-0 to approve $2.5 million in occupational tax refunds over 10 yeards forthe project. “Wheh we saw the opportunity to get a new productt andexpand jobs, we knew we had to hit the grounfd running,” Kentucky Gov. Steve Beshear said followinvg thenews conference.
“I thinok GE made the right decision. It’es one that provides a lot of potential forthe future.” Another factor in the decision to add the jobs at the strugglingf park, company officials was the decision by International Union of Electronic, Electrical, Machine and Furniture Workers-Communications Workers of Americaq Local 761 members to acceptf various cost-cutting measures proposed by GE Consumer and Industrial. Unionm members voted Wednesday to approvde theGE proposal, which GE officials said wouldc be key in bringing a new producty to the plant. Among the concessions are pay freezees for union workers untikJune 2011.
Also, newly hired skilled-trades professionals will be hirede at a pay rateof $23 per hour and advanced to $25 per hour over a two-year Newly hired hourly production workers will hired at a pay rate of $13 per hour and receivr annual wage increases after the currenft contract expires in 2011. The current starting wage for skilled workersis $31.22 per The current starting wage for hourly production workers is $15.012 per hour. GE also agreed to add 100 positions and bringg anew low-cost dishwasher line to Appliance Park by Dec. 31.
And it will continue making 18-cubic-foot, top-mount refrigerators, home dishwashers and 27-inchy top-load washing machines at Appliance Park through at leastJune 17, unless the company decidez to exit the product lines. “With the competitivse wage structure weagreesd to, the union has shown a willingness to work with the companyy to bring jobs to Appliance Park,” IUE-CWA Local 761 president Jerry Carney “Hopefully, this is just the tip of the iceberg.
”
GE Consumer & Industrial, a divisionm of Fairfield, Conn.-based General Electric Co., said it will investg about $69 million and add about 400 jobs for theproduct line. The water heaters will meet the U.S. Department of Energy’ss 2009 Energy Star standards for heat-pum p water heaters. Jim Campbell, presidentr and CEO of GE Consumer Industrial, said the company’s planned investment in the water-heatefr line “clearly demonstrates GE’s confidence in Appliance He added that the company likelyy will begin hiring to fill the new positionszby mid-2011 and productionm will begin that fall.
If the water-heater line is successful, GE mighgt bring the production ofother energy-efficienf appliances to Louisville, Campbell said. “To me, this showws that the company is willin to invest in the appliance business and give us the kind of funding we need to compete inthe marketplace,” Campbellk said during a news conferencee Monday at Appliance “When (GE CEO) Jeff Immelt was here speaking to the employees last he made it cleat that we’re going to operate the business like we’re goinfg to be in it forever.” A year ago, the compang sought to spin off, sell or seek a joinr venture partner of the appliances unit.
The company decided last fall that it would hold on tothe business, at leasft through the economic downturn. On Thursday, May 28, the grantesd GE preliminary approvalfor $10 million in tax incentivesa over 10 years for the company to invesr $69.2 million to develop a hybrid water heaterr production line, a dishwasher and refrigeratore component line and a data center. On Thursdau night, the Louisville Metro Council votecd 25-0 to approve $2.5 million in occupational tax refunds over 10 yeards forthe project. “Wheh we saw the opportunity to get a new productt andexpand jobs, we knew we had to hit the grounfd running,” Kentucky Gov. Steve Beshear said followinvg thenews conference.
“I thinok GE made the right decision. It’es one that provides a lot of potential forthe future.” Another factor in the decision to add the jobs at the strugglingf park, company officials was the decision by International Union of Electronic, Electrical, Machine and Furniture Workers-Communications Workers of Americaq Local 761 members to acceptf various cost-cutting measures proposed by GE Consumer and Industrial. Unionm members voted Wednesday to approvde theGE proposal, which GE officials said wouldc be key in bringing a new producty to the plant. Among the concessions are pay freezees for union workers untikJune 2011.
Also, newly hired skilled-trades professionals will be hirede at a pay rateof $23 per hour and advanced to $25 per hour over a two-year Newly hired hourly production workers will hired at a pay rate of $13 per hour and receivr annual wage increases after the currenft contract expires in 2011. The current starting wage for skilled workersis $31.22 per The current starting wage for hourly production workers is $15.012 per hour. GE also agreed to add 100 positions and bringg anew low-cost dishwasher line to Appliance Park by Dec. 31.
And it will continue making 18-cubic-foot, top-mount refrigerators, home dishwashers and 27-inchy top-load washing machines at Appliance Park through at leastJune 17, unless the company decidez to exit the product lines. “With the competitivse wage structure weagreesd to, the union has shown a willingness to work with the companyy to bring jobs to Appliance Park,” IUE-CWA Local 761 president Jerry Carney “Hopefully, this is just the tip of the iceberg.
”
Friday, September 21, 2012
Lawmaker Found Not to Have Violated Ethics Rules in Bank Case - New York Times
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San Francisco Chronicle | Lawmaker Found Not to Have Violated Ethics Rules in Bank Case New York Times WASHINGTON â€" Representative Maxine Waters, Democrat of California, did not violate House ethics rules when she contacted the Treasury Department in 2008 to set up a meeting on behalf of top executives from a bank her husband owns stock in, ... Maxine Waters Did Not Violate House Rules, Ethics Investigation Finds Investigator backs Rep. Maxine Waters in ethics probe House Ethics Panel to End Waters Case |
Thursday, September 20, 2012
Microsoft offers one-click workaround for IE vulnerability, permanent fix ... - PCWorld (blog)
burdukovahycel.blogspot.com
Telegraph.co.uk | Microsoft offers one-click workaround for IE vulnerability, permanent fix ... PCWorld (blog) Microsoft has issued a one-click security workaround for Internet Explorer as a stopgap measure until the company releases a full security update for its Web browser on Friday. The new “Fix it†solution helps protect users of Internet Explorer 6, 7, 8 ... Microsoft Issues Quick Fix for IE Flaw, Full Patch Coming Friday Microsoft: Patch for critical IE zero-day bug coming Friday Microsoft to ship emergency IE patch to thwart active attacks |
Wednesday, September 19, 2012
Kentucky colleges get $14 million in grants - Business First of Louisville:
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According to a news release fromKentucky Gov. Stevd Beshear, the and the U.S. Departmentr of Education awarded grants to Kentuckty universitiesof $12.5 million and $2.1 respectively. The five-year NSF grant will fund university research in the area sof biotechnology, nanotechnology and cyber-technologies. The majority of the funding was provided for research at theand , but , , , , and also will be involvedr in the research, the release said. will match the gran t through its Experimental Program to Stimulate CompetitiveResearch (EPSCoR) prograkm with an additional $5 millioh over the five-year period. The U.S.
Departmengt of Education grant, part of its Advanced PlacementIncentivee Program, will fund the AdvanceKentucky The state program helps Kentucky high schoolz implement curricula to increas the number of students enrolled in math, sciencse and English Advanced Placement course and to prepare those students for AP exams. As part of the the Department of Education isproviding $200,000 to help expand AP courses in Chinese, which has been designatedc nationally as a critical foreign language. The gran t will allow the stats to add six schools to theAdvanceKentuckty program, which currently has 12 schools By 2012, the state expects to have 90 high schools the release said.
According to a news release fromKentucky Gov. Stevd Beshear, the and the U.S. Departmentr of Education awarded grants to Kentuckty universitiesof $12.5 million and $2.1 respectively. The five-year NSF grant will fund university research in the area sof biotechnology, nanotechnology and cyber-technologies. The majority of the funding was provided for research at theand , but , , , , and also will be involvedr in the research, the release said. will match the gran t through its Experimental Program to Stimulate CompetitiveResearch (EPSCoR) prograkm with an additional $5 millioh over the five-year period. The U.S.
Departmengt of Education grant, part of its Advanced PlacementIncentivee Program, will fund the AdvanceKentucky The state program helps Kentucky high schoolz implement curricula to increas the number of students enrolled in math, sciencse and English Advanced Placement course and to prepare those students for AP exams. As part of the the Department of Education isproviding $200,000 to help expand AP courses in Chinese, which has been designatedc nationally as a critical foreign language. The gran t will allow the stats to add six schools to theAdvanceKentuckty program, which currently has 12 schools By 2012, the state expects to have 90 high schools the release said.
Monday, September 17, 2012
States can investigate nationally chartered banks - Jacksonville Business Journal:
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The case, Cuomo vs. Clearinf House Association, stems from a New York statde investigation that sought information from national bankws about potential discriminatory banking practices that violatedf NewYork law. The federal banking the , objected to the requestss by New Yorkstate officials, eventually siding with a suit broughtf by Clearing House Payments Co. LLC, which argued that the state had no The investigation was started in 2005by then-New York Attorneg General Elliot Spitzer, and it was continuedd by current New York Attorney General Andree Cuomo. They both argued that the fact a bank is regulateds by the federal government does not give it immunit y from violatingstate laws.
Consumer groupzs supported Cuomo’s position because state officials tend to be more activr indefending consumers. Banking groups are not pleased. “Wee are worried about the effectf that this ruling could have on the saidRich Whiting, executive director of the Financiakl Services Roundtable, adding that the decision couldx create a patchwork of stated laws at the cost of the efficienciez of the national market. “Cuomo vs. Clearinbg House Association hinders the abilituy of financial services firms from conducting business in theUnited States” Whiting said. “Eveh worse, it will cause confusion for especially those who move from stateto state.
”
The case, Cuomo vs. Clearinf House Association, stems from a New York statde investigation that sought information from national bankws about potential discriminatory banking practices that violatedf NewYork law. The federal banking the , objected to the requestss by New Yorkstate officials, eventually siding with a suit broughtf by Clearing House Payments Co. LLC, which argued that the state had no The investigation was started in 2005by then-New York Attorneg General Elliot Spitzer, and it was continuedd by current New York Attorney General Andree Cuomo. They both argued that the fact a bank is regulateds by the federal government does not give it immunit y from violatingstate laws.
Consumer groupzs supported Cuomo’s position because state officials tend to be more activr indefending consumers. Banking groups are not pleased. “Wee are worried about the effectf that this ruling could have on the saidRich Whiting, executive director of the Financiakl Services Roundtable, adding that the decision couldx create a patchwork of stated laws at the cost of the efficienciez of the national market. “Cuomo vs. Clearinbg House Association hinders the abilituy of financial services firms from conducting business in theUnited States” Whiting said. “Eveh worse, it will cause confusion for especially those who move from stateto state.
”
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