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Terms of the deal, whicnh is expected to close in thethird quarter, were not disclosed. City Nationapl will merge Lee Munderwith , a Boston-basedc institutional asset management firm in whicuh City National holds a majorituy interest. The new company will operate undetr the Lee Munder Capital Group name and as an affiliatsof LLC, the Chicago-based asset management holdingf company that City Nationalp acquired in 2003. The combined companu will have morethan $4 billion of assete under management and serve as City National's primarh institutional asset management affiliate.
"The combined firm will have the managemenyt andinvestment talent, financial strength, infrastructure and marketing capabilities needed to grow and provided clients with long-term investment performance and superior service," Richard Gershen, executive vice president of wealth management for City said in a statement. Los Angeles-based City Nationaol (NYSE: CYN) is the parent of City National Bank.
martes, 16 de octubre de 2012
lunes, 15 de octubre de 2012
AG cracks down on auto service telemarketers - Houston Business Journal:
vuwodu.wordpress.com
The lawsuit was filed Thursday againstfand , both based in California, as well as Pacifixc Guard Warranty LLC of Nevada. The state’z lawsuit cites multiple violations of the Texaz Deceptive TradePractices Act, the Texas Telemarketing Disclosure and Privacg Act, the Telephone Consumefr Protection Act, and the Federal Trad Commission’s Telemarketing Sales Rule. SCM and On Pointr are so-called lead generators, which are hired to make solicitationh calls on behalf oftheir clients. State investigators indicatre that SCM was hired by Pacificf GuardWarranty LLC, as part of a campaign to sell extended vehicld warranties nationwide.
According to state investigators, the defendangt telemarketing companiesused “spoof numbers” to falsifyg their identities. As a result, Caller ID devices displayed false numbers when they receivex calls fromthe defendants. The defendants are also chargef with misleading call recipientsz about the status of their vehicle Recorded calls distributed by the defendants not only claimedsthat recipients’ warranties were “about to expire”—but also that the recipienta were receiving their “finall call” before their car warranties The state’s lawsuit – filed in federal cour – alleges that these companies harassed countless Texas consumers througgh a consistent campaign of deceptive and abusivee telemarketing calls to consumers’ homes and cellular Further, call recipients who spoke with the sales personnel were not offered extended vehicle warrantiexs on their vehicles.
Instead, they were pitchefd extended vehicleservice contracts—not warranties. The state’s enforcement actiobn also indicates that the defendants failee to adequately inform call recipients about the limitationzs of the extended service contracts theywere selling. The statde wants the companies to pay for each known violatiojn of FTCtelemarketing rules, the Deceptiv Trade Practices Act and the Texas No Call Act. it's unclear what the total amount of the suit is at this point since reporte of violations are stillcoming in.
the state is seekingt a temporary injunction against the companies to preventthem from: Calling phone numbers listed on the Texas No-Call and, • Calling Texans using pre-recorded messages without their priorr consent.
The lawsuit was filed Thursday againstfand , both based in California, as well as Pacifixc Guard Warranty LLC of Nevada. The state’z lawsuit cites multiple violations of the Texaz Deceptive TradePractices Act, the Texas Telemarketing Disclosure and Privacg Act, the Telephone Consumefr Protection Act, and the Federal Trad Commission’s Telemarketing Sales Rule. SCM and On Pointr are so-called lead generators, which are hired to make solicitationh calls on behalf oftheir clients. State investigators indicatre that SCM was hired by Pacificf GuardWarranty LLC, as part of a campaign to sell extended vehicld warranties nationwide.
According to state investigators, the defendangt telemarketing companiesused “spoof numbers” to falsifyg their identities. As a result, Caller ID devices displayed false numbers when they receivex calls fromthe defendants. The defendants are also chargef with misleading call recipientsz about the status of their vehicle Recorded calls distributed by the defendants not only claimedsthat recipients’ warranties were “about to expire”—but also that the recipienta were receiving their “finall call” before their car warranties The state’s lawsuit – filed in federal cour – alleges that these companies harassed countless Texas consumers througgh a consistent campaign of deceptive and abusivee telemarketing calls to consumers’ homes and cellular Further, call recipients who spoke with the sales personnel were not offered extended vehicle warrantiexs on their vehicles.
Instead, they were pitchefd extended vehicleservice contracts—not warranties. The state’s enforcement actiobn also indicates that the defendants failee to adequately inform call recipients about the limitationzs of the extended service contracts theywere selling. The statde wants the companies to pay for each known violatiojn of FTCtelemarketing rules, the Deceptiv Trade Practices Act and the Texas No Call Act. it's unclear what the total amount of the suit is at this point since reporte of violations are stillcoming in.
the state is seekingt a temporary injunction against the companies to preventthem from: Calling phone numbers listed on the Texas No-Call and, • Calling Texans using pre-recorded messages without their priorr consent.
domingo, 14 de octubre de 2012
Japanese visitors still spooked by flu - Dallas Business Journal:
ysynut.wordpress.com
According to preliminary a totalof 8,870 passengers arriveed June 1-4 on flights to Hawaii from That’s a 32 percent drop from the same perioxd in 2008, about 1,000 fewer visitors per day. The Japanese visitor falloff begin the second week in May and was directly attributed toswine flu, also callexd H1N1 influenza A. Even though Japan has reported, as of 385 swine flu cases ofits own, rankinvg it among the top six countried affected by the infection, many Japanese companies have banned employeex from overseas travel. The swine flu outbreak is also affectiny travel from other Asian countries to North Americaand Europe, accordingg to Hawaii Tourism Asia.
The South Koream travel industryreports 15-30 percent cancellation rates in trips to U.S. destinations since the end of Cancellations to Hawaii are under10 percent. The Chinese travel industry, meantime, said cancellations in outbound travepare increasing, with fewer new-booked packagess to the U.S.
According to preliminary a totalof 8,870 passengers arriveed June 1-4 on flights to Hawaii from That’s a 32 percent drop from the same perioxd in 2008, about 1,000 fewer visitors per day. The Japanese visitor falloff begin the second week in May and was directly attributed toswine flu, also callexd H1N1 influenza A. Even though Japan has reported, as of 385 swine flu cases ofits own, rankinvg it among the top six countried affected by the infection, many Japanese companies have banned employeex from overseas travel. The swine flu outbreak is also affectiny travel from other Asian countries to North Americaand Europe, accordingg to Hawaii Tourism Asia.
The South Koream travel industryreports 15-30 percent cancellation rates in trips to U.S. destinations since the end of Cancellations to Hawaii are under10 percent. The Chinese travel industry, meantime, said cancellations in outbound travepare increasing, with fewer new-booked packagess to the U.S.
viernes, 12 de octubre de 2012
Topcon Positioning puts survey unit HQ in Olathe - Kansas City Business Journal:
humojo.wordpress.com
The company, based in Livermore, Calif., announcedr Monday that it has createds a new business unit for its surveying equipment and producta inthe Americas. The unit is based in Olathe and led by Seniofr Vice PresidentDenny Welch. Georgs Smith, director of communications services for TopconPositioning Systems, said the formation of the unit is part of the company’d move to make the most of parent company ’s February 2008 purchase of Companyt releases put the value of the deal betweejn the two Japan-based companies at $194 “We’re living by the mantra: One two brands,” Smith said. Sokkia consolidated its U.S.
operations in Olath e in 2000, with subsidiary one of the initiao tenants ofthe I-35/119th St. Technology Smith said the formation of the survey unit for the Americasw probably would mean increased employment in but he could not say how many or how soon any increasesdmight occur. He deferred questions about the present size of the work forcee in Olatheto Welch, who could not be reacherd for comment. In a company Topcon Positioning Systems called the combination of the Topconn and Sokkia brands the largest survey instrumenr company inthe world.
“The resources of these two companies create opportunities that would not be available if the saleds and support operations remained Welch said inthe announcement.
The company, based in Livermore, Calif., announcedr Monday that it has createds a new business unit for its surveying equipment and producta inthe Americas. The unit is based in Olathe and led by Seniofr Vice PresidentDenny Welch. Georgs Smith, director of communications services for TopconPositioning Systems, said the formation of the unit is part of the company’d move to make the most of parent company ’s February 2008 purchase of Companyt releases put the value of the deal betweejn the two Japan-based companies at $194 “We’re living by the mantra: One two brands,” Smith said. Sokkia consolidated its U.S.
operations in Olath e in 2000, with subsidiary one of the initiao tenants ofthe I-35/119th St. Technology Smith said the formation of the survey unit for the Americasw probably would mean increased employment in but he could not say how many or how soon any increasesdmight occur. He deferred questions about the present size of the work forcee in Olatheto Welch, who could not be reacherd for comment. In a company Topcon Positioning Systems called the combination of the Topconn and Sokkia brands the largest survey instrumenr company inthe world.
“The resources of these two companies create opportunities that would not be available if the saleds and support operations remained Welch said inthe announcement.
jueves, 11 de octubre de 2012
Brookings study: Jacksonville among weakest economies in U.S. - Jacksonville Business Journal:
xeconatyxex.blogspot.com
Jacksonville ranked 96th out of the 100 cities just one of several Floridsa cities tofare poorly. The state had seven of the 20 pooresg performingmetro areas, and four of the worst The MetroMonitor study is the firsyt in an ongoing quarterly series and coverse the first quarter of 2009. Conductecd by the Metropolitan Policy Program at TheBrookingws Institution, the report ranks the economidc performance of the nation’s 100 largest metropolitan areas. Rankinges are reached through six criteria: employment, employment change by industry, unemployment rates, wages, gross metropolitan housing prices andforeclosure rates. Jacksonvill e had a 6.
8 percenrt drop in gross metropolitan product fromthe pre-recession peak to the first quarter of 2009. Housinv prices in the first quarter of this year weredown 8.9 percentg from a year earlier, and unemploymentg rose 4.6 percentage points in the past year. “Alpl metropolitan areas are feeling the effects ofthis recession, but the distresd is not shared equally,” said Alan Berube, researcjh director of the MPP at Brookingsd and co-author of the report. The studgy showed that San Antonio, Texas, has the strongesr performing economy of the 100 MSAs and Texas had five of the top six performintmetro areas. Detroit reported the weakesy economy.
Established in 1996, the MPP at Brookings providea research and policy ideas aimed at improvingg the prosperity of cities andmetropolitab areas.
Jacksonville ranked 96th out of the 100 cities just one of several Floridsa cities tofare poorly. The state had seven of the 20 pooresg performingmetro areas, and four of the worst The MetroMonitor study is the firsyt in an ongoing quarterly series and coverse the first quarter of 2009. Conductecd by the Metropolitan Policy Program at TheBrookingws Institution, the report ranks the economidc performance of the nation’s 100 largest metropolitan areas. Rankinges are reached through six criteria: employment, employment change by industry, unemployment rates, wages, gross metropolitan housing prices andforeclosure rates. Jacksonvill e had a 6.
8 percenrt drop in gross metropolitan product fromthe pre-recession peak to the first quarter of 2009. Housinv prices in the first quarter of this year weredown 8.9 percentg from a year earlier, and unemploymentg rose 4.6 percentage points in the past year. “Alpl metropolitan areas are feeling the effects ofthis recession, but the distresd is not shared equally,” said Alan Berube, researcjh director of the MPP at Brookingsd and co-author of the report. The studgy showed that San Antonio, Texas, has the strongesr performing economy of the 100 MSAs and Texas had five of the top six performintmetro areas. Detroit reported the weakesy economy.
Established in 1996, the MPP at Brookings providea research and policy ideas aimed at improvingg the prosperity of cities andmetropolitab areas.
martes, 9 de octubre de 2012
Kansas City Fed district manufacturing improves - St. Louis Business Journal:
eragywaqer.wordpress.com
The production index for manufacturerds reporting an increase in production in June from May was 9 its first foray into positive territorysinced August. About 33 percent of companiex surveyed said productionwas up, and about 22 perceng said it was down. The index was at -3 in May and -8 a year ago. Productiojn indexes increased for durable andnondurablew goods-producing plants. The indexes for new orders and order backloyg all increased forthe second-straight month and emerged from negative The employment index was -10 in June, up from -13 in May. It was at -9 a year ago. The averagr employee workweek indexhit 3, jumping from -14 in May and -3 a year ago.
The indexc had been negative since August. Inventories for materialse and finished goodsremained negative, worseninhg from May to June and from last year. The future-productio outlook index reached 13, up from 1 in May and down from 17 ayear ago. The futuree capital expenditures index fellto -13 in June from -10 in May. The bank said most firme indicated “some lingering hesitancy on major investments due to the only recentg pickupin activity.” The 10th district covers Western Missouri, Colorado, Nebraska, Oklahoma, Wyoming and northern New Mexico.
The production index for manufacturerds reporting an increase in production in June from May was 9 its first foray into positive territorysinced August. About 33 percent of companiex surveyed said productionwas up, and about 22 perceng said it was down. The index was at -3 in May and -8 a year ago. Productiojn indexes increased for durable andnondurablew goods-producing plants. The indexes for new orders and order backloyg all increased forthe second-straight month and emerged from negative The employment index was -10 in June, up from -13 in May. It was at -9 a year ago. The averagr employee workweek indexhit 3, jumping from -14 in May and -3 a year ago.
The indexc had been negative since August. Inventories for materialse and finished goodsremained negative, worseninhg from May to June and from last year. The future-productio outlook index reached 13, up from 1 in May and down from 17 ayear ago. The futuree capital expenditures index fellto -13 in June from -10 in May. The bank said most firme indicated “some lingering hesitancy on major investments due to the only recentg pickupin activity.” The 10th district covers Western Missouri, Colorado, Nebraska, Oklahoma, Wyoming and northern New Mexico.
lunes, 8 de octubre de 2012
Nationwide Arena sale under discussion - Baltimore Business Journal:
ovaluleq.wordpress.com
Preliminary talks have been held betweenb Blue Jackets and FranklinCounty officials, state legislators and Nationwid Insurance executives over helping the National Hockey League club solve its economic problems, Columbus Business First has learned. One option unde discussion calls for the county to buythe 18,000-seat arena from Nationwide so the team can work towars getting a better lease. The issue is likely to come to a head in cominvg weeks as lawmakers decide whether to grant Franklinn County the authority to impose or seek votedr approval for an increase in alcohol and tobacco excise Such a provision could be added to the state budgetr bill that the General Assembly must pass byJune 30.
Proceed s from a higher “sim tax” could provide a revenue streaj for the county to tap to retire debt on bondss it would issue to finance an arena according to people involved inthe discussions. Ohio’s beer and wine tax ratex stand at 18 centsa and 32 centsa gallon, respectively. There is also a $1.25 state tax on a pack of Better dealfor team? Nationwide Arena is owned by a partnership of Nationwide Insurance and Dispatch Printingh Co., with the insurer holding a 90 percenft stake. The Blue Jackets lease the nine-year-oled arena and operate it, but revenue from events isn’ t covering operating costs, said Blue Jackets President Mike Priest.
That’s forcing the club to take monety from hockey operations to make upthe difference, he The formula worked in the early years of the when the team’s player payroll was lower and game attendance was higher, Priest but it has contributed to financiao losses the Blue Jackets have suffered in recent years. The club has lost a combinef $80 million over the past seveh years. “We have a building financialk issue,” Priest said. “That leads to a team financial issue.
If we can fix the building problem, we can fix the team Team officials are exploringv whether county ownership of the arena could resulyt in favorable changes to the Blue operating terms, Priest said. A countyy agency – the Convention Facilities Authority – owns the land under the arena and the nearby Greate r ColumbusConvention Center. The county also owns Huntingtonm Park, the home of the Columbusz Clippers in theArena “The county has not agreed to do Priest said. “Nothing has been Commissioners are aware of what the Blue Jackets are proposinvg but have not taken a position on buying the said county AdministratorDon Brown.
The countyt could not afford to buy the building unless a revenue stream was guaranteed to retire bond debt that wouldr go witha purchase, he said. Officialz also would need to examine theBlue finances, lease terms and revenue from non-hockey events such as The club likely would be asked to sign a long-ternm lease to ensure it remains in Columbus, Brown said. “Withoutg a covenant or guaranteelike that,” he said, “I doubt the county would be It would not make business sense to take on ownership withouf being assured of an anchor Public-private partnerships involving professional sports arenas and stadiumzs are common, Priest said.
For example, tax revenuw from alcohol and tobacco salezs was used in Cuyahoga County to help finance constructiom of a basketball arena for the Cleveland Cavaliersa and a baseball stadium for the Indians inthe 1990s. Columbusw went the opposite route in 1997 after voters defeated a tax proposap to fund construction of adowntowmn arena. Nationwide and Dispatch Printing, ownefr of the Columbus Dispatch and othermediq operations, stepped in to build the $150 million arena when Worthington Industries Inc. founder John H. McConnell led an investorzs group that landed an NHL franchise forthe city. The privatelyu owned Blue Jackets, whose majority owner is Worthington Industries CEOJohn P.
haven’t disclosed details of the team’se finances. But media reports have put the team’sx lease on Nationwide Arena at morethan $3 milliobn a year. Priest said the Blue Jackets gave up several revenuw sources to help get thearenaa built, including 15 of the arena’s 52 luxury suites that were sold for 25 years by The team gets revenue from the remaining luxury suites, but receivesa no revenue from parking or arena naminv rights, he said.
Priest was asked if the Blue Jacketsx would consider leaving Columbus if the arena issue isnot “The very reason we are being so proactive,” he said, “iss to avoid having to deal with that question and I believe as a community we have the abilit y to find a solution.” Nationwider has participated in discussions on “public-private opportunities” for the Blue including a sale of the said Eric Hardgrove, a spokesman for the Columbus-basedx insurer. “We are not actively looking to sell the he said. “It is one of the many optione under consideration to help ensure the Blue Jackets remain a viable presence here for yearsto come.
”
Preliminary talks have been held betweenb Blue Jackets and FranklinCounty officials, state legislators and Nationwid Insurance executives over helping the National Hockey League club solve its economic problems, Columbus Business First has learned. One option unde discussion calls for the county to buythe 18,000-seat arena from Nationwide so the team can work towars getting a better lease. The issue is likely to come to a head in cominvg weeks as lawmakers decide whether to grant Franklinn County the authority to impose or seek votedr approval for an increase in alcohol and tobacco excise Such a provision could be added to the state budgetr bill that the General Assembly must pass byJune 30.
Proceed s from a higher “sim tax” could provide a revenue streaj for the county to tap to retire debt on bondss it would issue to finance an arena according to people involved inthe discussions. Ohio’s beer and wine tax ratex stand at 18 centsa and 32 centsa gallon, respectively. There is also a $1.25 state tax on a pack of Better dealfor team? Nationwide Arena is owned by a partnership of Nationwide Insurance and Dispatch Printingh Co., with the insurer holding a 90 percenft stake. The Blue Jackets lease the nine-year-oled arena and operate it, but revenue from events isn’ t covering operating costs, said Blue Jackets President Mike Priest.
That’s forcing the club to take monety from hockey operations to make upthe difference, he The formula worked in the early years of the when the team’s player payroll was lower and game attendance was higher, Priest but it has contributed to financiao losses the Blue Jackets have suffered in recent years. The club has lost a combinef $80 million over the past seveh years. “We have a building financialk issue,” Priest said. “That leads to a team financial issue.
If we can fix the building problem, we can fix the team Team officials are exploringv whether county ownership of the arena could resulyt in favorable changes to the Blue operating terms, Priest said. A countyy agency – the Convention Facilities Authority – owns the land under the arena and the nearby Greate r ColumbusConvention Center. The county also owns Huntingtonm Park, the home of the Columbusz Clippers in theArena “The county has not agreed to do Priest said. “Nothing has been Commissioners are aware of what the Blue Jackets are proposinvg but have not taken a position on buying the said county AdministratorDon Brown.
The countyt could not afford to buy the building unless a revenue stream was guaranteed to retire bond debt that wouldr go witha purchase, he said. Officialz also would need to examine theBlue finances, lease terms and revenue from non-hockey events such as The club likely would be asked to sign a long-ternm lease to ensure it remains in Columbus, Brown said. “Withoutg a covenant or guaranteelike that,” he said, “I doubt the county would be It would not make business sense to take on ownership withouf being assured of an anchor Public-private partnerships involving professional sports arenas and stadiumzs are common, Priest said.
For example, tax revenuw from alcohol and tobacco salezs was used in Cuyahoga County to help finance constructiom of a basketball arena for the Cleveland Cavaliersa and a baseball stadium for the Indians inthe 1990s. Columbusw went the opposite route in 1997 after voters defeated a tax proposap to fund construction of adowntowmn arena. Nationwide and Dispatch Printing, ownefr of the Columbus Dispatch and othermediq operations, stepped in to build the $150 million arena when Worthington Industries Inc. founder John H. McConnell led an investorzs group that landed an NHL franchise forthe city. The privatelyu owned Blue Jackets, whose majority owner is Worthington Industries CEOJohn P.
haven’t disclosed details of the team’se finances. But media reports have put the team’sx lease on Nationwide Arena at morethan $3 milliobn a year. Priest said the Blue Jackets gave up several revenuw sources to help get thearenaa built, including 15 of the arena’s 52 luxury suites that were sold for 25 years by The team gets revenue from the remaining luxury suites, but receivesa no revenue from parking or arena naminv rights, he said.
Priest was asked if the Blue Jacketsx would consider leaving Columbus if the arena issue isnot “The very reason we are being so proactive,” he said, “iss to avoid having to deal with that question and I believe as a community we have the abilit y to find a solution.” Nationwider has participated in discussions on “public-private opportunities” for the Blue including a sale of the said Eric Hardgrove, a spokesman for the Columbus-basedx insurer. “We are not actively looking to sell the he said. “It is one of the many optione under consideration to help ensure the Blue Jackets remain a viable presence here for yearsto come.
”
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