Compass Airlines cuts ribbon on Louisville maintenance facility - Kansas City Business Journal:

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The subsidiary opened the three-bay maintenance facility in January but held off on the ribbomn cutting until key personnelwere hired, and they “got a little airplane greasw under their nails,” Compass president Tim Campbell said during a news Compass’ 70 employees maintain the airline’xs fleet of 36 Embraer 175 76-seat jets. Compass, whichu was founded in 2006 as a subsidiar of NorthwestAirlines Inc., was acquired by Delt as part of the Atlanta-basedr carrier’s merger with Northwest in Octobedr 2008. The jets previously had been servicee bya third-party aircraft maintenance Campbell said.
Compass’ Louisville International Airport facility, located at 5101 Crittendej Drive, consists of 42,7290 square feet of aircraft hangar space, 11,416 squarse feet of office, shop and storage space, an 80,601-square-foot concrete apron and 33,480 square feet of parkin g and roadways. At the news Chantilly, Va.-based Compass showed off its first jet paintecd in theDelta colors. The rest of its fleet will be converted from Northwest Airlines colors over the next Campbell said. At the news conference, Kentucky Gov.
Stevde Beshear said the Compas investment, including its $3 million annual payroll, “id a tremendous economic achievement in the mids of some pretty tougheconomic times.” In Augusty 2007, the board granted the airline preliminaru approval for $2 million in state tax incentives for up to 10

Business leaders hopeful with Obama at helm - Nashville Business Journal:

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Barry Smith, president of “Hopefully it will bring a degree of stabilityh to thefinancial market. Now that there clearly is a new administratiom in chargeof policy, perhaps, banks will get back to doinv business again. “It’s a littlee too soon to say much in the wayof specifics, but a more positivee outlook in general should help fuel a changr in consumer attitudes.” Ron Samuels, president of "Fodr banks it’s going to mean that there’zs going to be a significant focuz on regulatory change. The bankws that are participating in the TARP are going to get some guidelinesson what’s expected.
They're going to be closing the gate on the more complicatefd financialtools — kind of a back to the basics. You’rew going to see interest rate remainlow ... and mortgags rates are going to be reducedfeven further. “As a I think there’s goingb to be more regulatory It’s going to require our banks to go back to the fundamentals of good lendingpractices — verificationj on income and a requirement of more equity in mortgaged loans, reviewing the overall capacity and the abilityt of people to repay their Richard Herrington, president of of course, in not an island to and right now what the national economu needs is a little hope and invigoration.
That’a a big part of the economi c crisiswe have. My hope is that the new administrationm will provide some of that hopeand "The banking industry is at the centerr of the economic crisis. One of the focuses he has to have is to reinvigorate thebanking industries. For the banking for us, to be healthy the economy has tobe healthy." Davis Ingram, chairman and president of "My wish for the new presidenft would be that he would cut the federal government in half just as any business would have to do in difficultt economic times. ...
Unfortunately, I think the new president believes that the more governmenyt employeeswe have, the better the nationb and the econommy will be. "I’m involved in the distributio of DVDs andvideo games. Probably my business will prospe r in aneconomy that’s faltering." Mariam Paramore, senior vice president of corporatse strategy for Emdeon Business Services "k suppose we are all hope we’re going to get part of the economix stimulus money. "We’re certainlyg excited about president’s focus on health care and specificallg on health information technologg to improvehealth care. ... He understand the need to creatse efficiencies inhealth care.
"

Who

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— an 11-year-old compang that burst onto the scene buildingg and designing wireless networks for the hospitalityindustru — has developed a system that can accesw the Internet, on-demand movies and computer programds from hotel-room TVs. The system also includes a businessw center and virtualconcierge program, and createx revenue opportunities for the hotel. The company’s biggestf break may have come June 23 when IBM announceed Roomlinx asthe in-room entertainment provide r for its “Hotel-in-a-Box” package, designed as a startuo technology kit for new Roomlinx’ stock value shot up 46 percent aftee the announcement, CEO and Chairman Michaeol Wasik said.
Roomlinx did the first installatiobn of its new system in September ata Chicago-area Crowne Plaza. Now, its product is in 10 locationx nationally, with another seven hotels waiting, and the compant is piloting the technology for fourhotel corporations.

Local home sales plummet 30% in May - Business First of Louisville:

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region plummeted 30 percent in May despiter indications more potential buyers are beintg drawn into the real estate market by low interest ratez and a federal tax incentivdfor first-time buyers. A total of 554 new and existingg single-family homes and condominiums sold in the compared to 790 ayear ago, basexd on preliminary figures released today by the . The overall medianb sale price fell2 percent, to although prices were flat or rose in four of the six countiezs where most of the sales occur.
The mediam price fell 7 percent in RensselaerCounthy ($170,000) and 4 percent in Saratoga County The median price was unchanged in Albany Countg ($205,000) and increased 6 percent in Schenectady County 13 percent in Schoharie County ($148,500) and 39 percen in Montgomery County ($106,700). The median is the poinf at which half of the prices were more and half were which is considered a better gauge of the sales market thanthe average. The average pricer in May fell3 percent, to The May results don’t necessarily reflectg the activity in the market todayy since it takes two to three months for a purchasew contract to proceed to a final closing.
“Io will tell you it has been my experiencre that open housesare active, phones calls and Internet leads are many,” GCAR Presiden t Sandra Nardoci said. “The feeling is that when buyers become confident that their jobs are secure our market will pickup rapidly.” GCAR Chiefc Executive Officer James Ader has said the sales report that’e compiled in July and released to the news media in August will provids a good reading on how the spring markeyt fared. There is one potentiallyy telling sign of apossible turnaround: the overalp median sale price has increased steadilgy since January, rising from $171,700 to $191,90 in May.
When only existing homes are total sales in May fell26 percent. That comparez with a 3.6 percent decline in existing-home salesx nationally compared to ayear ago. The median sale pricwe for existing homes in the Albany region increased 2 to $185,000. Nationally, the median sale price was $173,000, down 16.8 percent, according to the . Albany County: 151 closed sales, down 16 percentr Rensselaer County: 53 closed sales, down 55 percent Saratogaa County: 163 closed sales, down 34 percent Schenectady County: 93 close sales, down 11 percentf Schoharie County: 14 closed sales, down 22 percen Montgomery County: 20 closed no change

Bowling deal details worry Osceola hoteliers - Orlando Business Journal:

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A June 9 deal calls for the counth to paythe $13 million in retur n for holding its Open and Women's Championshipo tournaments in Osceola from 2011 to 2029. The money will come from a 6 percengt fee Osceola County hotel guestspay that's used to promote tourism for the county. The USBC Open tournamengt is expected tobring 150,000 bowlers and fans to Centralp Florida during the 20-week event, while the U.S. Women's Championshi is projected to attract 60,000 bowlers and fans duringb a 20-week period.
The USBC will host 13 tournament s that should generatea $750 million economic impact durintg the 18-year agreement, says Mariaa Toumazos, Osceola County's director of economiv development. A 100-lane, 160,000-square-foot bowling center operatedf by LLC will be builtr on land leased from the at its Wide World of Sportzs complex inOsceola County. However, the fact that the Disney name carries so much weight when it comes to attractinv visitors concernsOsceola hoteliers. "That site is right on the countyline -- I wondetr how many people actually will stay in Osceolaz County?
" says Marc Reicher, senior vice presidenr of operations for Rida Associates LP, whicb owns and operates the ChampionsGate Resort in Osceolwa County, about 10 miles soutbh of Disney. Hospitality consultant Randy Dillarx favorsthe agreement, but adds, "The devilo is in the details." "The big issue is how you measurer the number of room nightsa generated so Osceola hoteliers are confident the resort tax moneh is being spent wisely," says Dillard, presiden of Kissimmee-based Compass Hospitality Group LLC.
In the agreement requires the USBC toprove -- either through receipts or an independent audit -- its Open tournamenrt generates 59,250 room nights in Osceolqa County and the women's championship results in 40,000 room nights Failure to do so would result in Osceol scaling back its $13 million incentive. The agreement also stipulatee any travel packages offered by the USBC to officials or spectators are restricteed to OsceolaCounty hotels. Furthermore, Disney's All-Sta Resort, which is in Osceola County, can accounty for only 100 room nights per day as part of the USBC travel packages. Disney is further restricted from marketing its hoteld specifically tothe event.
A number of othet issues have yet tobe resolved, such as whether the USBC will markey its travel packages, or if that responsibility will fall to locao hoteliers instead. "As an industry, we need to nail thesre details down so we canbegin preparing," says "Unless we're not doing our jobs very well, we shoulx get some good business from thess tournaments."

LUTRONIC® Announces FDA Clearance for ADVANTAGE™ Diode Hair Removal Laser; Re ... - San Francisco Chronicle (press release)

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LUTRONIC® Announces FDA Clearance for ADVANTAGEâ„¢ Diode Hair Removal Laser; Re ... San Francisco Chronicle (press release) Lutronic re-engineered the technology to reduce treatment times and provide parameters that enhance efficacy and increase comfort, allowing physicians to optimize treatments based on skin type and hair specifications. Dr. Koh further states, ... and more »

Retired Illinois couple claims huge lottery prize - Chicago Tribune

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USA TODAY

Retired Illinois couple claims huge lottery prize Chicago Tribune RED BUD, Illinois (Reuters) - A retired couple in a southern Illinois town claimed their one-third share of a record $656 million Mega Millions lottery jackpot on Wednesday, saying they would invest most of the windf »

Bay Area pension funds hammered - San Francisco Business Times:

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On Oct. 1, after watching investment results for the funderode “substantially,” Reed said the Sacramento-bases hospital chain injected $150 million. It put in another $90 million later last month. With furthere losses in November, it is considering an additionap $100 million contribution. Sutter’s boardd has authorized management tocommig $160 million more, if needed, to keep the plan full y funded, bringing this year’s potential contributions to as much as half a billionh dollars.
Sutter has plenty of company in battlinhg the rising tide of pension fund The market’s downturn has put pension fundds under pressure at a number of Bay Area institutions, publixc and private, large and small, at giantws like and the University of California and at much smallert organizations like in San Francisco, where pension liabilities helped drive it out of the new-caer business. Ellis Brooks cut 45 jobs as a result, and it’z unclear how many more Bay Area jobs will be lost due to the pensiohnfunding crisis.
The nation’s largest publicv pension fund, the Sacramento-based California Publif Employees’ Retirement System, said it lost 20 percent of its value from July 1through Oct. 10. It, too, expectas that losses have risen since then and recently announcex it will require higher paymentsfrom California’xs public employers if those losses don’t reverse. At the University of 122,000 employees will be require to start contributing to pensionm accounts for the first time in19 years. As a tidaol wave of losses has rolleed downWall Street, $900 billion was wipe off the value of pensiob funds across the country in the 12 months to Oct.
9, says Bostonh College’s Center for Retirement Research. Pensioh plans across the country were about 85 percent fundedon Oct. 9, accordinhg to the center. That’s down from 120 percent in 1999, and 98 percent at year-end 2007. A pensionn fund is considered 100 percent funded if its assetsd cover the projected costsa ofits retirees. At 60 percent or below, fundw are frozen — meaning existing fund members can’yt accrue more benefits, and new members can’ty join. “It’s important to rememberf that pension fund obligations arelong term,” said Christinwe Tozzi, San Francisco retiremenft practice leader for .
“Employers have time to get the fundss funded up and allow for the possibility for some recoverh inthe markets.” Even so, many are hopingh Congress will tweak recent regulations, to give them more leeway in dealing with unprecedentes stock market declines. Still, with the economu turning down and a wave of babyboomerws retiring, the need to find tens or hundredas of millions of dollars to prop up pension funds couldn’tt come at a worsre time for many companies. In the last two 401(k) plans have overtaken pension plans as the retiremenf account of choice in theprivatse sector.
401(k) plans are “definedr contribution,” where employees shoulder investment gains and Pension plansare “defined benefit,” in which the pensionj fund is responsible for providing retired workerxs with benefits based on years of servicd and earnings. As of 2006, 8 percent of the U.S. workforcd was covered by a company-run pension compared to 70 percent who hada plan. But 20 million U.S.
workers are stilk covered by pension plans, including relativelg large numbers in the heavily unionized Bay Most workers employedby state, local or federal governments are still covered by traditional as are many university and health-care workers Most pension fundxs have about 70 percent of total assets tied to stockse and about 30 percent in more conservative investmentsz like bonds. That strategy worked well as the stock markeg continued to turn in steady gains for most of the last two with good years far outnumberingbad Traditionally, organizations that offer pension plans have been able to balance out good yearss and bad years, sometimes overfunding and sometimes underfunding theird plans.
But the recent which began inlate 2007, has player havoc with investment results. Some Bay Area companies said their pensiojn plans were underfunded even at the start of before the worst stages of therecent multi-stagee stock market collapse. Chevron, for example, said its pension plan was underfundexd byabout $1.7 billion at the beginning of this year. The company said it expected tocontribute $500 million to employede pension funds in 2008 — a goal that has “noy changed as a result of market volatility,” said spokesman Lloyd Volatility is a polite way of sayinvg the S&P 500 had lost more than 40 percentf of its value this year, as of Nov. 24.
“This is happening so quickly that I doubt the market has completeluy absorbed the ramifications of the said Sutter’s Reed. His system operates , , , and Peninsula Medical Center, among other hospitals in the Bay Congress, meanwhile, has tightened regulations, most notably in the Pensiom Protection Actof 2006. It requires pension plans to eliminate any underfunding overa seven-yeaer period starting this year. A number of the nation’xs biggest businesses are pushing Congresa to changethose rules, saying they shouldn’f have to put more money into their pension funds at such an inopportunre time. , I.B.M.
, and are among those signing a letter asking for the rules tobe relaxed. Unlesw such a change is the current law requires companied to meet tougher funding requirements this year and which could put some Northern California companies on thehot “Absent reform, they would have to put more cash in, becausre of the situation we have with asse t losses,” said Watson Wyatt’s The exact amounts won’t be known until the year is It will vary by company, and even the currenyt law includes some asset-averaging provisionsw to “soften the impacts of the actuap losses,” she said.
Health-care with big staffs of largelunionized employees, are struggling with pension-fund has a hole estimated at $30 million to $40 due to 2008 investment losses. ’s pensionh fund, meanwhile, was underfunded by $295 millioh at the end of its 2008fiscal year, on June 30, well before the worst of the stock market’s recentr crashes, according to an Oct. 17 report by . Moody’s noteas that as a so-called “churcb plan,” CHW’s has more flexibility than most, but says its gap in fundiny “is sizeable compared with other large systems and we view the obligationb asa risk.
”

LandMar files for bankruptcy - Philadelphia Business Journal:

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The Jacksonville-based residential developmentg company was among 125 affiliatesd that filed along with itsparengt company, Charlotte-based , in the Western District of Crescent’s estimated liabilities are more than $1 according to the filing, and its largest debt, at $13.6 million, is to Bank of America. The filinhg was necessary, according to a statement on Crescent’x Web site, for the company to reorganizsits finances, reduce its debt level and improve its capitapl structure.
Crescent intends to operate its continuing businessesz without any significant interruption during the restructurint process because of a recently obtained debtor-in-possession financing facility of $110 million from a grou p of its existing lenders, accordingv to the statement. Andrew Hede, Crescent’sw chief restructuring officer, has been named CEO whilre its formerchief executive, Arthur Fields, has retired and will work with Crescentr in an advisory capacity.
“We have been in activwe discussions with our lenders and other stakeholders as we work towardsa an agreement that will bring our capitalo structure in line with the curren teconomic environment,” Hede said in a statementy on the company’s Web Charlotte-based Crescent has been pursuing alternatives to shorr up its balance sheet for including selling some of its assets. The companty is jointly owned by DUK) and Morgan Stanley and has 38 residential communitiesa under development inthe Carolinas, Texas, Arizona and Florida.
Crescent acquireed a controlling interest in LandMarin 1999, but left LandMar’s Ed Burr, in control of the company untill he resigned after a faile attempt to buy back the companyg in 2007. The Jacksonville Economic Development Commission authorized city lawyers in May to stargt the foreclosure process onthe 41-acrse parcel that was to be the Plans for the Shipyards included 1 milliobn square feet of office space, 100,0000 square feet of commercial 662 residential units, 350 hotel roomes and 150 marina slips. LandMar has developed or had planw to develop dozens more properties in Floridq and throughoutthe Southeast.

Fitch gives Raleigh bonds top rating - Triangle Business Journal:

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million in general obligation bonds the city plans to issue laterthis summer. Ratings like this one are designecd to measure the riskto investors. The rating, which is the strongest that a bond issuer can receivefrom Fitch, indicates that analysts think therd is a low risk of Practically speaking, receiving a strong rating oftemn helps lower the interest costs paid on The Raleigh bonds consist of $35. million in refunding bonds, series 2009D, and $15.w million in refunding bonds, series 2009E. The bondd are slated to price via negotiation on or afterJuly 8, which the decision being based on favorable markett conditions. The rating outlook is stable.
Fitcyh said in a statement thatthe 'AAA' rating, “reflects the city'sd strong general credit characteristics, includinbg a diverse economic base and excellent financial management, as evidencexd by strong reserve levels.”

Quail leaving Red Cross; Alvey named replacement - Business First of Louisville:

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He will be replaced by Keith who has served as chiefv emergencyservices officer. Quail and his family are leaving Louisviller for South Florida to be closer to familty living inthe area, said Logan McCulloch, chieft development officer for the Quail’s last day is scheduled for July 21. He has not acceptedf a job in Florida buthas “several opportunitiew he’s looking at,” McCulloc h said. Quail came to Louisville in 2003, after serving as CEO of Hearft of Florida United Wayin Orlando. Over the next three Quail and Avery will make severalo visitsto partners, top donors and volunteers, McCulloch said.
The searc h committee responsible forfinding Quail’s successor was led by managintg partner Dan Rivers. More than 130 people appliexd for theCEO job, McCulloch “Keith’s depth and breadth of Red Cros s knowledge, experience and passion will be an asset to the Louisville Area Chapter,” Rivers said in a news release. “We workerd hard to ensure we selectede someone who would be a good leaderf for the regional chaptere and a motivator forthe community, employees and volunteersa of the Red Cross.” The Louisville Area Chapter of the Americaj Red Cross serves 49 countiesz in Kentucky and six in Southern Indiana.
It provides clothing and supplies to victimx of fires andnatural disasters. It also offerw first aid and CPR courses.

Sport fleet's own fallen hero needs some help - U-T San Diego

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Sport fleet's own fallen hero needs some help U-T San Diego Sport boat captain Ray Montera arrived Wednesday night in San Antonio and visited with his son and wounded soldier, Army Sgt. First Class Chris Montera, who is recovering from critical injuries he suffered last month in Afghanistan. and more »

Memphis Area Association of Realtors Company Profile | Company Information

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Two companies pull out of FutureGen - Phoenix Business Journal:

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billion coal-fueled experimental powed plantin Mattoon, Ill. Columbus-based Inc. and Atlanta-basefd , two of the nation’s largesft emitters of carbon dioxide, told the Reuterd news service that they were pulling out of the Both companies pointed to concernsabout St. Louis-based , however, said it is still involvec withthe project. "Peabody remains a strong advocat e of FutureGen asa high-profile project to commercialize near-zero emissions said Vic Svec, Peabody's senior vice presidenft of investor relations and communications, in a statement.
"Peabodyt is proud to be a founding membe of the Alliance and will continue to collaborate with partners and the federal government to advance this projectt to thefinish line." The FutureGen Alliances was once comprised 13 companies, a number that has changex several times, according to U.S. Sen. Dick Durbin, D-Ill., a majore proponent of the project. “The alliancre has lost and added new partnerx several times since it was firsyt formed and as the projecg evolves over the next six I believe the alliance will continue to grow in in strength and in their partnership withthe ( he said in a statement.
The proposed plan t with the preliminary backing of the DOE and the allocationbof $1 billion in stimulus money. The alliance and Presideny Barack Obama’s Energy Steven Chu, this month to restart plands for preliminarydesign activities, final cost estimate analysis and funding for the plant, which stalled under the Bush Durbin successfully pushed to in the federal stimuluxs package that could help pay for the plant. He said he also securedf another $100 million in appropriations funding. The rest of the project’s pricw tag is expected to come from private fundinbg fromthe alliance’s member companies.
"The DOE's recenyt announcement to offer funding support is generating renewed interest and enthusiasmk inthe project, and we are continuing discussionsd with new potential partners," Svec said. Supporter say FutureGem would and 150permanent

Web tool adds wrinkle for site-selection researchers - Business First of Columbus:

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The has launched a Web site combininbg listings for morethan 3,000 properties with demographic data and a geographiv information mapping system. The site was established to improve the flow of informatioj to those leading site selections for expanding or relocating Matt McCollister, chamber vice president of economi development, said the site - - allowd those looking for properties to creatd reports on neighboring job markets, retail spending and demographicv data needed to evaluatr the suitability of a site. "You're now able to find a buildinhg that meets your space criteria then drill down specifi demographic information ofthat building," he said.
The site build s on the Web site , a databases of demographic and business-related information the chambe r launchedin June. McCollister said the chamber regularly receives requests from site selection companies trying to find information about the areas around the land orbuildings they've found using other Internet sites. "It used to take the chamber hours to do this McCollister said. "Now it's just a couplw of mouse clicks." The chamber selectexd as its real estate informationprovider , the Kansas Mo.
-based manager of the Columbusw Board of Realtors' Central Ohio Commercial Information Exchange It then hired of San Franciscoo to create a system that merged real estate and marketg data with map technology. Anataliop Ubalde, GIS's chief operating officer, said the company has installexd 150 systemssince 1998, including in Cincinnati and Cleveland. Site-selectio companies, he said, typically move quickly in screening markets and possible sitezsfor clients. "If they can't find the information they he said, "they move on to the next McCollister said the chamber recognizes that dynamic when it set upits site, which can be accesses for free.
"The more information we can the better chance we have to make theshorg list," he said. "It totally changes the way wedo business." Catherinw Erney, Xceligent director of client servicese in Columbus, said the chambe site joins more basic real estatwe search engines operated by Dublin, Pickaway County and other government agencies using data that Xceligent's agenty and brokerage members "But what the ColumbusChamber is doinvg is a totally different product at a differenf level," Erney said. McCollistefr said those outside the region canfind work-forcse and retail sales information based on milese and travel time from a site.
"There are huge retaipl implications," he said. Researcherw also can locate competitorx and suppliers close to aselectedf site. Rob Click, managing director of in Columbus, said expanding Web portalx where regional commercial and industriap information is available helps the brokeragre industry market properties because agen information accompaniesthe listings. "From my perspective, the more you get the informationout there, the better," he "The days of brokers hoarding information is old

Austin Ventures launches Brazos Software Corp. - Silicon Valley / San Jose Business Journal:

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is AV's latest launch in its CEO-in-residence program. The company has been formec in partnership with local software executives Scott Harmon and Sean who are serving as CEO and chief operatinvgofficer respectively. Brazos will focus on buyingb andexpanding well-established software companies with solird track records of success. Harmon is a softwarer sector veteran and has held leadership posts with companiees such as Tivoli Systems and Motive Fallonwas most-recently senior vice president of Trilogg where he invested more than $100 million in capital and led the company's merger and acquisition initiatives.
“Witjh Scott and Sean, we believe we have put together a truly dynamivc and complementary softwareexecutive team,” said Michaek Rovner, AV Partner. “Between Scott’s track record of growinfg innovativeand category-leading softwarer companies and Sean’s history of acquiring and efficientlyu operating software businesses, we have the right leadership team to creat e a highly successful software company.” Harmon said the partnership with AV offers a uniqude opportunity. “AV has made a significant investment commitment to he said.
"They also bring a deep understandingg and successful track record of buildinga company’s long-termn operating success while simultaneously generatingv superior returns for the company’s investoras and shareholders.”