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Monday, May 28, 2012

FDIC: Banks rebound to $7.6B profit - Dayton Business Journal:

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billion in profits in the first quarter, down 60.8 percent from the $19.3 billion the industry earnecd in the first quarterof 2008. the latest figures are an improvement over therecordc $26.2 billion loss the sector sufferedx in the fourth quarter. Higher loan-loss provisions, increased goodwillo write-downs and reduced income from securitizatiobn activities all contributed tothe year-over-year earning s decline.
Three out of five insures institutions reported lower net income in thefirstr quarter, and one in five was “The first-quarter results are telling us that the bankin g industry still faces tremendous challenges, and that goint forward, asset quality remains a major concern,” says FDIC Chairmanh Sheila Bair. “Banks are making good efforts to deal with thechallenges they’re facing, but today’ report says that we’re not out of the woods To that point, 21 FDIC-insure d institutions failed during the first quarter the largest number since the fourth quarte r of 1992. Insured institutions set aside $60.
89 billion in provisions for loan losses in thefirsgt quarter. That’s up $23.7 billion, or 63.6 from the first quarter of 2008. Expenses for goodwill impairment andother intangible-asset expenses totaled $7.2 billion, up from $2.8 billiohn a year earlier. Those negativde factors outweighed the positive effects of increasex noninterestincome (up $7.8 billion, or 12.8 percent) and highefr net interest income (up $4.4 or 4.7 percent). Insuresd institutions charged off $37.8 billionb in bad loans in the first almost twicethe $19.6 billion of a year Tier 1 capital reached a record high of almost $70 the largest quarterly increase ever reported by the industry.
much of the increase occurred at institutions that receivef capital fromthe U.S. Treasury Department’s Troubled Asseyt Relief Program. Total assets declinex by $302 billion due to downsizingh by a fewlarge banks. Two-thirdsx of all institutions reported asset growth inthe quarter, but reductionse at eight large banks causec the industry total to decline. Total loans and leases fell by $159.6 billion (2.1 percent), while assets in trading accounts declinedby $144.5 billion (14.98 percent).

Sunday, May 27, 2012

What would John Wayne do? - Triangle Business Journal:

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Several families in business could use an icon like John Waynr to guide them through the quandaries that they seem to face more frequentluy than otherbusiness persons. I’m no John Wayne, but I’nm happy to share a few pearlsof hard-wom wisdom that I’ve picked up over the past coupls of decades in hopex that they might come in handy in confusing times. Never miss an opportunity to smile and walk away froma OK, so John Wayne wouldn’tg do it, but for anyone who’s inclinesd to let a storm blow itself out and watcjh for a sunnier day, walking away from a tense familu situation is the better part of valor.
Almost no one ever wins a familyt fight, because when the name-calling and crying are the root cause of the dispute is still in waiting for the next chance to boil tothe surface. Take a let things cool, then come back for some quier conversation that just might uncover and relievde thereal problem.

Friday, May 25, 2012

Going Green

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CEO James Bearden says the incident helpecd the large architecturefirm “walkk the talk” about sustainability. Being sustainable and gree n is no longer justen vogue. It’sx business, and customers, investors and employeew are driving the efforg toward making company executives pay Gresham Smith now looks atthe “tripler bottom line,” a buzz word amonhg businesses these days that means they go beyonfd the balance sheet and consider their profits and planet when making businesws decisions.
Companies like Gresham Smith say being green can meansaving money, having less impact on the planetg and keeping good people all good for the bottom Experts say many factors are driving the shift: a growing segmenyt of the investment community that only invests in socially responsible companies, employees who want to work at company that matchez their sustainable values and consumerse who demand that the companies they do business with be in line with thei environmental values. Companies are taking theit business model of maximizing profits beyond financials and looking at environmentaol and socialimpacts too.
“Before it was just ‘do you It was very minimal,” says Jeff Gowdy, a sustainability consultant in Nashvills who has worked with Bridgestone and othefr companies to implement the triplebottom “Now it’s a whole new ball Once companies start talking the talk of people have higher expectations of you. So, if you have a bunch of throw away waste at an it doesn’t reflect on your message.” Whilse the recession that has left some companies just clawinyg to survive will put greej initiatives on the back burner for some, others like Wal-Martr say that going green means savin money. Nationally, Wal-Mart Stores Inc.
has led the way with its requiring reduced packaging and new standardws forshipping goods, whil e hiring a sustainability director to overse e it all. Back at Greshaj Smith, the 709-employee firm — which employs about 367 at its Nashvillesheadquarters — hired a sustainability directorf in February and started greeninfg its processes. The award-winning desigj firm has long been helping clientds design green buildings and developsustainabl places, but has only recentlyy taken a look inward to make green a day-to-day routine.
Gresham’s Bearden says when he draw s out a diagram to illustrate the triplesbottom line, he thinkws of the “sweet spot” as the place where the profits and planet intersect. What’s in the overlao is worth doing, he says, and what’s not is Jane Ahrens, Gresham’s new sustainability has worked at the firm for more than two previously as a project architect in the aviation The hope at the firm is that herpositiojn won’t be needed one day because beinvg sustainable will become part of the corporate But for now, Ahrens is focusing on three The first is “greening” the which means making sure architectz always use green materials in designa unless clients dictate otherwise.
The second is greening the pursuits, which meanx truly understanding clients’ needs to help them be And third, greening Gresham Smith, which includesz everything from reducingthe firm’es contributions to landfills, to cutting travell and drinking out of thos e reusable water bottles. The obvious sustainabilitg steps had alreadybeen taken: They’ve changed the lighr bulbs to CFLs, they’re recycling and the computerz are being turned off at the end of the day.
For the the firm has purchased a videol conferencing system for all its officese so employees and clients can meet withoutf the cost and environmental impactof “If you show up to a job site in an SUV and you say you know abougt sustainability, that’s a little bit of a contradiction,” Ahrenx says. So far this year, Bearden has had 16 days that he woulr have been in an airplane or carthat he’sw now sitting in front of the video He estimates the travel costs alon e — not including the cost of employees’ time — will pay for the more than $250,000p cost of the video conferencing systej in nine months.
The company also considerzs sustainability when deciding where to locats its 17 offices throughout the Downtown environmentsare preferred. They allow stafferzs to walk to lunchand don’t typicallg involve parking lots or green areas that are wastin g water with sprinklers, Ahrend says.

Thursday, May 24, 2012

Intel to buy Wind River for $884M - Charlotte Business Journal:

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Intel's $11.50-per-share offer is about a 44 percenf premium overWind River's closing price on Wednesda of $8. Wind Riverf stock lost more than half its valuse betweena 52-week high of $12.99 last August and a low of $5.61 in March. The stocl closed Thursday at $11.72, up 47 percent. Santaq Clara-based Intel (NASDAQ:INTC) said buying Alameda-based Wind River will help it expand its softwarde into thousands of embedded systems and mobilre devices includingsmart in-car "info-tainment" systems, aerospace and defense, energyg and thousands of other uses.
Wind River will operate as a whollty owned subsidiary after the deal closes durinvthe summer, reporting to Renee James, head of Intel’s softwarwe and services group. "Our combination of strengthsa will be of great benefit toWind River’s existinyg and future customers," said Ken Klein, Wind Rive r chairman, president and CEO. Founded in Wind River has morethan 1,6000 employees and operations in more than 15 During its fiscal year ended Jan. 31, Wind River reported $10.7 million in net incomew on annual revenueof $359.7 million. The companu on Thursday posted a 21 percent increase in netincomee $561,000, or 1 cent a share, for its first quartetr despite a 6.
5 percent drop in revenuew to $63.8 million.

Tuesday, May 22, 2012

Chase bank hiring 200 in Milwaukee - Kansas City Business Journal:

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New employees are working at theChase Tower, 111 E. Wisconsin Ave., and are focused mainly on negotiatinf new payment arrangements with homeowners delinquentg ontheir payments, said spokeswomanj Christine Holevas. Chase is one of the nation’ds largest mortgage servicers with a portfolioof $1.5 The bank added billions in mortgagw business with the September 2008 acquisition of Washingtohn Mutual. The new hires include loan negotiators, underwriters and supervisors, Holevas Many already have started training. Chase has abouy 1,400 employees in greater Milwaukee, and nearly 950 in Holevas said. Chase, which is part of , New York runs 41 branches in themetropolitanh area.
In December 2008, Chase cited declining activitgyin home-equity lending when it announcecd job eliminations by early February in its downtownm Milwaukee home equity servicing center. Some employees who were laid off earlie this year are likely amon g those being hired for the mortgageservicing functions, Holevasx said. “We had terrific people and we want to get the best ofthoss back,” she said. Chas bank officials like the quality of employeed in Milwaukee and theirwork ethic, Holevas said. She could not predict the longevit y of thenew jobs. “As the businesa changes so do our employment Holevas said. “We staff according to needs.
” As the numbere of foreclosures continues torise nationally, Chase is far from the only bank to boosft its staff for handling troubled mortgages. Some banks, includingh M&I Marshall & Ilsley in have instituted foreclosure moratoriums as they attempt to modifhy mortgages toreduce payments. M&I’s foreclosure moratorium is schedulesd to expire onJune 30. In the past six M&I has increased by 50 perceny its staff dedicated to assisting the increasing number of homeowners facingfinancialp stress, said Dick president of the bank’s Wisconsin community bank He declined to disclosr the number of jobs that M& I has added.
M&I works with homeowners before they reach delinquencyh to avoid foreclosure and also seeks solutions for homeowner s alreadyin foreclosure, Becker said. Minneapolis-basec , which has the second-largestg deposit market share in metropolitan Milwauked and services more than 1 millionjmortgages nationally, announced in March that it is constructing a building in Owensboro, Ky., for its mortgage services unit. The bank alreadyt employs 850 people in Owensboro and the new buildinbg will accommodate up to 300new employees.
At the community bank level, the loan modificatio strategies are implemented on a smaller For example, , Wauwatosa, increased its collections staff from two to threse plus a half-time employee to tacklw the increased workload, said president and CEO Doug Collections employees review the home-owner’s financial situation in an effort to avoid foreclosure, Gordo said. The employees discussz what the homeowner can afforrd for payments and whether the mortgag eis salvageable, he said.
The bank has successfullg modified many mortgages and even stopped some foreclosures while they werein process, he “We’d much rather modify them — work with them — than foreclose,” Gordon “Nobody wins in that. We don’t want to own the real estates andthey don’t want to lose the real

Wyle Houston's Operations Supporting NASA Awarded Major Hardware Development ...

MarketWatch (press release)

"Achieving CMMI Level 3 is a significant milestone for Wyle's space flight hardware and software development, and sustaining engineering operations," said Jim Kukla, Wyle vice president for the company's Science, Technology and Engineering Group.

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Thursday, May 31, 2012

Ruling on Coyotes move could come Wednesday - Phoenix Business Journal:

Wednesday, May 30, 2012

Wyle Houston's Operations Supporting NASA Awarded Major Hardware Development ... - MarketWatch (press release)