Friday, March 30, 2012

Obama: Public plan would

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If insurance companies do provides good insurance to their then they should have nothingv to fear froma government-run he said. “They should be able to compete,” he If the public plan is able to reduce administrativercosts significantly, private insurers shouled take note and see if they can do the “There shouldn’t be any objection to that,” Obama The public plan should be required to collecg premiums, not be “simplyg eating off the taxpayer he added.
Health insurerd and many business groups contend a publivc plan would have an unfair advantage becauseit wouldn’t be subject to all the rules imposee on private insurers and likely would pay health provideras less for their services. This could crow out many private insurersa and lead providers to charge private insurers more to make up for the lost incomee from thepublic plan, they contend.
When asked whether including a publicx plan in health care reform was thepresident said, “We are still early in this “We have not drawn a line in the other than reform has to controp costs, and it has to provider relief to people who don’g have health insurance or are underinsured.” Obamza also was asked what he thought about the performance of Federakl Reserve Chairman Ben Bernanke, givem the fact his financial regulatory reform plan proposesd expanding the Fed’s authority. “I think he has done a very good job undere verydifficult circumstances,” Obama said.
All regulators fell short of doing what was needed to prevent thefinancial crisis, but the Fed “probably performed better than most,” he Since the financial crisis erupted, Bernanke has “performed very Obama said.

Wednesday, March 28, 2012

Price of luxury falls sharply at Hub

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Nationally, the luxury hotel segment saw RevPar revenue peravailable room, a key measure in the industry plummet 28.6 percent in Februarty compared with the same period last year, according to , a hotel-industry research firm. The luxury category farexd worse than every other from upscale tothe independents. The so-calledx upper-upscale market saw RevPar dip about 20 percenyt in February and upscale hotels saw RevPar drop 17 percentgin February.
Other such as midscale and economy, saw RevPar dip by less than 15 In Massachusetts, hotel RevPar was down across all categories by 20 percenty in February, while occupancy was down 12 percent and the average daily rate dipped to $115, compares with $127 in February of according to Smith Travel Research. Local luxury hotels say a double whammy — a slumping economu and strict travel policies amid a backlash over corporatee bonuses and bailouts — contributed to the slowdowhn in the first quarter. To combat lagging luxury hotels are offeringdiscounted rates, free stayz and lucrative spa and restaurants deals.
Indeed, many businessz travelers are “buying-down” and staying at cheaper a trend that has hit luxur y hotelbrands hard, according to Reed vice president of hospitality consulting firm “Luxury and upper-upscale hotels are seeinyg much sharper revenue declines than what we’rew seeing at the lower end of the scale,” Woodwortyh said. “Corporations don’t want travelers to stay in luxury hotelsbecause it’ss perceived to be excessive.” These days Boston’s is makinvg sure that its less expensive roomsx remain in the low $200-a-nigh range.
“It’s a touggh market and we want to makesure we’ree accessible to a larger market than just discerningf luxury travelers,” Jim Treadway, managing director of the said. “We should be priced about 25 percent higher than we arerighf now.” Treadway says that while the Libertu was buffeted by a tough market durinbg the first quarter. RevPar at the hotel was down abourt 12 percentin February, lower than the industry averagwe for the luxury segment for the month. Treadwayy noted that all of the Liberty’s business segments, includiny group, leisure and independent corporate are down.
At the Boston rates are about 10 percengt to 15 percent off and are currently hoveringbetween $250 and $260 a Business is being affected “bty a combination of things,” said Tim general manager at the Intercontinental. “People forget that it’se a supply issue as Two years ago we had threefewer hotels. There’ s been a tsunami here wher we’ve got increased inventory in adiminished There’s no sanctuary. We’re feeling it across the To preserve its profit the Intercontinental had layoffs at the end of last year and institutec flexible schedules and energhsaving tactics, among othedr cost-cutting measures.
Deals also abound at the Intercontinentak includingthe “Boston Freedom Trail” package that offers guests three nights for the pricwe of two. Free nights are also on the tabl e in a summer sale atthe — includingf the Fairmont Copley Plaza and Fairmont Battery Wharr locations in Boston. The luxury chain offered a fourth night free for bookings made this week for hote stays between Apriland September. “You have to find a way of addingt value to the luxuru customer who understands price and whatthings cost.
You have to give them a more compellinb reason than ever before to saidPaul Tormey, regional vice president and generall manager of the Fairmont Copley Rates at the Fairmont’s Boston hotels are currentlu hovering in the high $200-per-nighy range and RevPar was down in although it was down less than the nationakl average, said Tormey. The hotel has had layoffxs and frozen salaries to cope with the The first few weeksof however, have exhibited bright spots, includingv an increase in sales leads, according to And although luxury hotels are now forcex to deal with corporations purposely not selecting big-namse luxury brands on top of the slow economy, that stigma will not said Paul Sacco, president of the .
“In the long it’s not going to be an issue,” said

Monday, March 26, 2012

Egypt Ruling Council Says Brotherhood Is Trying to Undermine It - New York Times

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Egypt Ruling Council Says Brotherhood Is Trying to Undermine It

New York Times


CAIRO â€" Egypt's ruling military council lashed out at the powerful Muslim Brotherhood on Sunday, accusing the group of trying to undermine the government and of questioning the motives of the military rulers. The statement was a sign of mounting ...



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Saturday, March 24, 2012

Nordstrom beats Q1 earnings predictions - Pacific Business News (Honolulu):

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Net sales fell to $1.71 billion from $1.88 billio n in 2008. In the latest quarter, the Seattl retailer (NYSE: JWN) reported a one-time benefit of $12 million, or 6 cent s per share. Excluding the benefit, Nordstrom’s earningds were $69 million, or 31 centse per share. That’s better than what analystsa predicted. Analysts polled by Thomson Reuter s First Call expected earnings of 26 centss per share and net salesof $1.69 billion. Nordstrom also increaserd its earnings guidance for fiscal 2009. For the year, Nordstrom expecte earnings between $1.25 and $1.50 per share, up from its previou guidance of $1.10 to $1.4o per share.
Company officials said they’rwe increasing guidance “to reflect increasesw in gross profit and credit card partly offset by an increase in baddebt expense.” Nordstrom opened its first full-service department store in Hawaiui at Ala Moana Center in March 2008.

Thursday, March 22, 2012

BFC Financial, Woodbridge to merge - Pacific Business News (Honolulu):

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In a joint press release Monday, the Fort Lauderdale-based companies said they enteredd into a merger agreement whereinWoodbridge (Pink Sheets: would become a wholly ownerd subsidiary of BFC (Pink Sheets: BFCF). BFC currently controls majoritu voting stakes in both Woodbridgeand (NYSE: BBX). BFC lost $58.09 million on revenue of $487.5 million in 2008. Woodbridge owns , whichh is building Tradition Florida inPort St. and has investments in various companiesw includingand . Woodbridge lost $140.3 milliohn on revenue of $25.5 million in 2008.
In its firsft quarter earnings report, Woodbridge warned that Core Communities could default on the loans for Tradition Florid if its lenders demand that it put more equitycapitalo down. Under the merger all shareholders of Woodbridge Clasas A common stock except BFC wouldreceive 3.47 shares of BFC’sx Class A common stock per share. With sharees of BFC opening at 40 cents Monday, it equals nearly $1.30 a share for each share of Woodbridge, which openedc at $1.10 Monday. Levan and Abdo are chairman andvice respectively, of both companies.
The mergere would save between $1 million and $2 millioj in professional fees and SEC reportinfg costs forthe companies, Levan It would also reduce the taxes Woodbridgr would pay on its earnings once it returns to profitability, he said. Currently, Woodbridgs pays taxes on its and then BFC pays taxes on the portioof Woodbridge’s earnings that it countas on its balance sheet. The move will not cause any stafg reductions, Levan noted. Woodbridg will continue operate independently.
The agreementg would include all current board members of Woodbridgeon BFC’s new board and add Woodbridg President Seth Wise and BankAtlanticf Bancorp President Jarett Levan to BFC’s 12-membee board, as well. Wise would also become executivd vice presidentof BFC. The deal is expected to closwe before the endof 2009. BFC sharese closed unchanged at40 cents. The 52-week high was 95 centz on Sept. 2. The 52-week low was 6 cents on Feb. 5. Woodbridgre shares closed down 2 centxto $1.08. The 52-week high was $6.60p on Aug. 21. The 52-week low was 2 centx on Oct. 24.

Monday, March 19, 2012

Location-Based App Maps Nearby Bars, Food and Adventure - Mashable

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Location-Based App Maps Nearby Bars, Food and Adventure

Mashable


The location-based app aggregates data from social networks into its “Nearby” feed. Statuses, tips and photos are collected from people near you â€" not solely from who you know. This ensures there's access to data you wouldn't norm »

Saturday, March 17, 2012

Houston companies release earnings - Houston Business Journal:

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Plains All American Pipelinee (NYSE: PAA) reported net incomre of $92 million, or 57 cents per on revenue of $7.2 billion, for the threed months ended March 31, 2008. That compared with net incomee for the first quarter of 2007of $85 million, or 61 centa per unit, on revenue of $4.2 Analysts polled by Thomson Financial were expecting the Houston oil and gas transportef to have net earnings per share of 63 WCA Waste , a Houston solid-waste posted a net loss of $2.4 million, or 20 centa per share, on revenue of $48.98 million, for the quarter ended March 31, 2008. That compare d with net incomeof $1.3 million, or 2 cents per share, on revenue of $40.
6 million, in the same periods a year earlier. Analysts expected WCA (NASDAQ: to have net earnings per share of3 cents. Offshore energy company Helix Energy Solutions reported net incomeof $74.w3 million, or 79 cents per share, on revenue of $450.87 million, for the three months ende d March 31, 2008. That compared with net incomweof $55.8 million, or 60 cents per share on revenuer of $396.1 million, for the same quarter in 2007. Analyst were expecting Houston-based Helix (NYSE: HLX) to have net earning per share of82 cents. Oceaneering International , a Houston offshorew oil and gas services posted first quarter earnings for the period endedMarch 31, 2008 of $41.
43 million, or 74 cents per on revenue of $436 million. During the corresponding periofin 2007, net income was $33.2 or 60 cents per share, on revenue of $344 million. Analystsd expected Oceaneering (NYSE: OII) to have net earnings per share of 93 Contract drilling services firm Grey Wolf reported net incomeof $31.32 million, or 15 per share, on revenue of $201.5t million, for the three months ended Marchh 31, 2008. That compared with net income of $58.6t million, or 27 cente per share, on revenue of $242 million, for the firsr quarter of 2007. Analysts were expecting Houston-basedd Grey Wolf (AMEX: GW) to have net incomse of 14 centsper share. NATCO Group NTG) reported net incomre of $9.
9 million, or 50 cents per on revenue of $152 million, for the threed months ended March 31, 2008. That compared with net income of $8.8 million, or 45 cent s per share, on revenue of $127.4 for the same quarter in 2007. Analysts were lookingh to the Houston wellhead process equipment provider to have net earning s per share of66 cents. Cal Dive DVR) posted a first-quarter 2008 net income of $600,000, or 1 cent per on revenue of $144.6 That compared with net incomweof $30.1 million, or 36 cents per share, on revenues of $149.2 million, for the same period last Analysts had expected the Houston marine contractor to have net earnings per shar e of 16 cents.

Thursday, March 15, 2012

PENN PROF ON MARCH MADNESS: CAN LOSING L - FOXSports.com

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PENN PROF ON MARCH MADNESS: CAN LOSING L

FOXSports.com


Jonah Berger, an assistant professor of marketing at the Wharton School, has more than just March Madness. He's scored a three-pointer with his research studies surrounding motivation and performance in basketball. Berger's study "Can Losing Lead to ...



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Tuesday, March 13, 2012

Schwarzenegger says day of reckoning is here - Minneapolis / St. Paul Business Journal:

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“California’s day of reckoning is he said. With no the state could run out of cash in14 days. Thres months after the state budgetwas approved, Californiza faces a $24 billion Schwarzenegger has already proposed massive cuts to education, healthy care and prisons. Now he’sa looking for structural reformk to make government more efficient and stretchytaxpayer dollars. He’s asked the State Board of for example, to make textbooks available in digitaloformats — a move that could save In 2004, the governor talked aboutr blowing up boxes and consolidating agencies, but the initiativesw never gained traction. They’re back.
Schwarzenegger is proposing once again to eliminate and consolidate more than a dozenstate departments, boardxs and commissions. This includes the Wast Management Board, the Court Reporters the Department of Boating and Waterwayzs and the Inspection and MaintenanceReviewa Committee. Earlier this year, the stated began consolidating informationtechnology departments. Now Schwarzeneggee wants to consolidate departments that overseee financial institutions and merge tax collection operations. In July, state leaders will receive recommendations on how to modernizes thetax code.
“This will be a tremendous opportunity to make our revenuez more reliable and less volatile and help the stat avoid the boom and bust budgets that have broughr ushere today,” Schwarzenegger told lawmakers. It’x not going to happen in 14 days, he But it could happen before the Legislaturde adjourns for summer recess onJuly 17.

Sunday, March 11, 2012

Plexus wins Coca-Cola work for new drink machine - Charlotte Business Journal:

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Neenah-based Plexus (NASDAQ: PLXS) will partned with Atlanta-based Coca-Cola (NYSE: KO) to manufacture a proprietary fountainj dispensercalled Coca-Cola Freestyle. Coca-Cola will use global supply chain, manufacturing service and expertise in engineering services to bringh the productto market. Plexus first called the program anew "confidentiak mechatronics win" in its 2008 fiscal year-end earnings presz release. Dean Foate, Plexus presidenrt and CEO, called the contract "a significant for the company.
"We believe this relationship further validated the opportunities that are attainable withinj the mechatronics space throughour sector-based go-to-market strategy," Todd senior vice president-global customer services, said in a pressd release. Financial terms of the contract werenot

Friday, March 9, 2012

PharmAthene Reports Year-End 2011 Financial and Operational Results - Bradenton Herald

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PharmAthene Reports Year-End 2011 Financial and Operational Results

Bradenton Herald


By PharmAthene, Inc. ANNAPOLIS, Md., March 8, 2012 â€" /PRNewswire/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, today reported its financial and operational ...



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Wednesday, March 7, 2012

SMMUSD: No Malibu Help on Separation Analysis - Patch.com

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SMMUSD: No Malibu Help on Separation Analysis

Patch.com


By Jonathan Friedman If Malibu has any hope of separating from the Santa Monica-Malibu Unified School District, a harmonious proposal from Santa Monica and Malibu stakeholders must be submitted to the state Board of Education. But at this time, ...



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Monday, March 5, 2012

Saturday, March 3, 2012

UDR offers apartment-search application for iPhone - Business Courier of Cincinnati:

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The Highlands Ranch-based apartment owner's locator app allows usersd to search apartmentsby location, price, and numbeer of bedrooms and bathrooms. It offers amenities lists and floor plans oflistecd apartments, and prices are updated daily. The app "knows" where the user is locatede through GPS technology and can offer maps and directions toselectedx apartments. Users can save the apartments they choosw in afavorites folder, and even places a hold on an apartment until the user can UDR said the application currently offers apartmentx in Arizona, California, Florida, Oregon, Tennessee, Texas, Virginia and Washington state as well as D.C.
The app is available through Apple's online iStore or for free downloacby . The new iPhonew service "fits perfectly into UDR's mobile strategy to attract and retainh apartment renters who are becoming more reliangt on a mobile devicw and less reliant on theirpersonak computers," said Steve Taraborelli, UDR's VP of salexs and marketing, in a "Not only are we attracting apartment prospects within the Unitecd States, but from around the worlcd now." In addition to the iPhone app, UDR also has WAP- and iPhone-compatibld websites, at and respectively.
UDR is an apartment-investmenrt trust that owns about 45,009 apartment units and had anotherf 2,000 under development as of Marcg 31.