The Radisson Blu Hotel, Amsterdam Wins "Global Hotel of the Year 2011" - MarketWatch (press release)

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Monday, February 27, 2012

Bombardier sees bright future in aviation - San Francisco Business Times:

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Its 10-year forecast for the business jet marketpredicts 11,50 deliveries from 2009 to 2018, which represents $256 billion in worldwided revenues. The company also forecasts 12,400 deliveries in the 20-to-14o seat commercial market over the next 20 From 2009to 2028, Bombardier predicts this market to be worth $589 “The financial turbulence being felt around the globe has placed a significant focus on the challengesz facing the aviation industry, particularly within the business jet Mairead Lavery said in a release. vice president of strategy and businese developmentfor Bombardier, believes the immediatse future of the industry will remain volatile.
But he said the long-terkm future still holds plenty of opportunity foraircraftt manufacturers. “As the world begins to emerge from thiseconomicf crisis, demand should gradually return and future prospects remain solid,” he

Saturday, February 25, 2012

GM files bankruptcy - Wichita Business Journal:

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billion and assets of $82.w billion. The bankruptcy, filed in New York, lists unsecuref claims by the ($20.6 billion) and the International Union of Electronic, Electrical, Salaried, Machines and Furniture Workers/Communication Workers ($2.7 billion). Othefr unsecured debt listed in the filingincludeas $22.8 billion serviced by and $4.5 billion by . Boca Raton-based has a claimk for $4.75 million, according to the filed with the U.S. Bankruptchy Court of the Southern District of New Auto retailers that survive the bankruptcies of GM and which filedin April, hope it helps to pave the way to recover y in the industry.
“Today’s action will allow GM to move forward and be competitivew inthe marketplace,” spokesma n Marc Cannon said Monday in an e-mailes statement. “The goal of making GM profitabl e ata 10-million, new-unit sellinb rate will position them for when the industry begins to recovedr later in 2010.” Fort Lauderdale-based AutoNation, the nation's largest auto has six GM franchises and seven Chrysler franchises on the closure lists. Although viewed as inevitable and necessarhyby many, Chairman John McEleney said in a news releas e that the filing marks “za historically sad day for American business.
” Chrysler is expected to emerge from its Chapter 11 process soon after shuttering 789 dealerships. GM also announced plans to closs 1,100 dealerships. GM announcedc April 27 that it anticipates reducingits U.S. dealer countf from 6,246 to 3,605 by the end of 2010. Dealershipo closings already have started. According to Associated GM will rely on moregovernment assistance: $30 billion of additional financial assistance from the and $9.5 billion from on top of about $20 billion it alreadhy received in low-interest loans.
GM’s lead bankruptcyu law firm is WeilGotshaw & with attorney Stephen Karotkin signing the In a news release, the automaker said it would focus on the following priorities when emerging from bankruptcy: Focuz on four core brands in the U.S. Chevrolet, Cadillac, Buick and GMC - with fewer nameplates and a more competitived level of marketing supportper brand. Closs a competitive gap in active labor costs compared with foreignjauto makers. Increase the percentage of U.S. sales manufacturex domestically. Feature lower costs at a U.S.
total industrh volume of approximately 10million vehicles, whic h would be substantially below the 15 millio to 17 million annual vehicled sales rates recorded between 1995 and 2007. Achieve lowerr structural costs, in part, by further reducing 2009 salariedf employment in North America to approximately froma year-end total of 35,100, and continue to improvr its balance sheet by reducinb retiree benefits for salaried retirees and non-UAW hourlgy retirees. Increase its investment in fuel economy and advanced propulsion technologies.
Click to read the

Thursday, February 23, 2012

Phoenix attorney Kaites, former Expos, Nationals president part of Reinsdorf bid for Coyotes - Portland Business Journal:

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Reinsdorf, who owns the Chicago Bulls andWhite Sox, is the lead name on the $148 millio offer for the team, which is in Chapter 11 bankruptcy Canadian billionaire Jim Balsillie earlier made a $213 milliohn offer to buy the hockey team and move it to Ontario. Reinsdorf put in his bid Friday alongywith Kaites. Bankruptcy court filings say Tavares, CEO of New York-based Sports Properties Acquisition Corp., will join the effort. Kaitess is an attorney with LLC in Phoenixx and a principal withthe Phoenix-based lobbying firm .
The firm countd Reinsdorf, the Gila River Indian Community, Magellan Health Services and the Professional Firefighters of Arizon a union amongits clients, accordinhg to the Arizona Secretaru of State’s Office. Kaites served as a prosecutord in MaricopaCounty Attorney’s office befored unsuccessfully running for state attorney general in 1998. He also servedf in the Arizona Legislature and worked as a weathermanon KPNX-TV Channe l 12. Kaites has been a political allyof U.S. Sen. John R-Ariz., serving on his 2008 Arizona presidentiall campaign leadership teamin Arizona.
Tavares servedc as president of the Montreal Expos during the time when the baseballk team relocated toWashington D.C. and became the

Tuesday, February 21, 2012

UnitedHealth subsidiary launches short-term plans - Nashville Business Journal:

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Indianapolis-based Golden Rule Insurance Co., part of Minnetonka-based UnitedHealth, said Tuesdayt that it is introducin its Short Term Medical Plus and Shor Term Medical Value plans in 19states — Minnesotw isn’t one of as state law prohibits for-profit insurers. In Arkansas, Florida, Iowa, Illinois, Maryland, Missouri, Mississippi, Oklahoma, Pennsylvania, Tennessee, Texas and Wisconsin, consumers can choose from one to 12 monthxs of coverage with either ofGolden Rule’d new short term plans. In Arizona, Michigan, Ohio and Virginia, one to six monthes of coverageis available.
“Especially in today’a economy, there is a need for budget-conscious healthj plans for individuals and families who suddenly find themselvee without health insurance through workor school,” Goldeh Rule CEO Richard A. Collins said in a news Golden Rule also offers short term health plands in 15other Alaska, Colorado, Connecticut, Delaware, Georgia, Kansas, Louisiana, North Carolina, New Hampshire, New Mexico, South Carolina, South Dakota, West Virginia and Individual insurance plans are a growing markeft for health insurance companiese as the recession causes workers to lose theie jobs, and companies to scal e back on benefits, causing more people to seek the All three of Minnesota’s majofr insurers — Blue Cross and Blue Shield of Medica, and HealthPartners — have been .
One of them, even geared toward laid off workers.

Sunday, February 19, 2012

SC Heerenveen's Ron Jans delighted with the 1-0 win over NAC Breda - bettor.com (blog)

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The Radisson Blu Hotel, Amsterdam Wins "Global Hotel of the Year 2011" MarketWatch (press release) BRUSSELS, February 29, 2012 /PRNewswire via COMTEX/ -- The Radisson Blu Hotel, Amsterdam has been awarded the title of "Global Hotel of the Year 2011" by the Carlson Rezidor Hotel Group. The property, located in the heart of Amsterdam, has been named ... and more »

SkySports

SC Heerenveen's Ron Jans delighted with the 1-0 win over NAC Breda bettor.com (blog) The Heerenveen boss, Ron Jans, expressed happiness and revealed that his side remained better of the two sides on the pitch. The Friesland outfit had to face a trouble early on and could have conceded a goal inside five minutes. Heere nveen win again Sportal.com.au  »

Money woes mount for BankUnited - South Florida Business Journal:

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BankUnited’s first quarter net interest income – widelyg equated to revenue in the bankin gworld – was minus $2.3 million, according to its preliminarg filing with the on The figure does not include the results of the paren company, Coral Gables-based BKUNA). Meanwhile, federal regulators have moved the deadline for bids to acquired BankUnited from Thursday to next according toa source. Much of the maneuvering deals with whethert former Chairman and CEO AlfredCamnerf – the largest shareholder in the parent company would be involved in the company’sw future or receive anything of value for his a source said.
If the bank is put into shareholders may not receive a AttorneyKendall Coffey, who represents the Camnerd family, declined to comment on the futurew of BankUnited. BankUnited shares have shown volatilityu and heavy trading this On Thursday, 21.98 millio n shares traded, following 14.6 million on Wednesday and 15.85 million on Tuesday. The stock only has 30.63 milliohn shares as a public float, so many shares may be trading multiple times ina day. Prices this monthg have bounced from a low of 28 cents on May 1 to a highof $1.743 on Tuesday. On Friday, shares were down 7 centzs to 81 centsin mid-afternoon tradinf on volume of 4.
9 million Meanwhile, bidders must evaluate the value of a potentiaol purchase. The negative net interest margijn is rareamong banks. Havingv high net interest income as a percentage of the assetes of the bank is a core measure ofa bank’s Losses from bad loans are subtracted from the income margin most banks get from collectinhg more from loan interest than they pay out in deposits. those fundamentals were upsidd downat BankUnited. In the firstt quarter, the bank collected $126.4e million in interest on mortgages and investmentein mortgage-backed securities while paying out $128.7 million in interesg to customers on deposits and to the on a loan to BankUnited.
The FHLB loanw money to banks, which, in are expected to lend out at highedr interest rates than they are payingthe BankUnited’s net interest income has nosedivecd during the past year as it offered high-ratee certificates of deposits while loan interest rates The bank generated $82.1 million in net interesrt income in the first quarter of 2008. Its net interesrt income droppedto $15.1 million in the fourth before turning negative in the first quarter of 2009. It did not help that BankUnitecdhad $478 million more in liabilities – whichy includes deposits and loans that cost it mone y – than it had in assets, whicuh should earn the bank interest income.
BankUnited’s $13.14 billion in assete included about $2.64 billion not earning interest, such as repossessed real late and unpaid loans and the reservde for futureloan losses. On the other side of the equation, BankUnited’se $8.78 billion in deposits includedonly $328 millionb that were not paying interesy to depositors. That means many of its depositeswere costly. Having so many high-ratwe deposits diminishes the franchise valus ofthe bank, Miami-based banking analys t and economist Kenneth H.
Thomas However, he believes BankUnited still has good franchisre value because its 86 branches in the attractive Florida markef hold a higher average of deposits per branch than most other The bank’s other main source of potential revenuwe – noninterest income – was negative $27 million in the firsg quarter. That included spending $13 million on the operationw and sale ofrepossessed assets. Despite the urgent pressure on BankUnited to preserve capital as it seekswan investment, the bank’s noninterest expenses – the operationalp expenses of the business – increasex to $77.2 million from $63.
1 million in the fourth The bank cut 15 employees duringf the quarter to end at 1,083, but its personnelk and compensation expenses increased by $1.5 million to $20.u million.