lihung-associations.blogspot.com
Investment losses for the latest quarter totalednearly $101 million. Chied Financial Officer Greg Gombar anticipates gains in the financial markey in April and May will erassethose losses. Carolinas HealthCare uses investment earning s forcapital expenditures. That money is not used for dailyy operations. The health-care system hopes negotiations with several lenders will cut its interestr expenses tied to variable debt andhigher bank-liquidity Those fees are about $1 million per Interest expenses in the first quarter were $21.9 million.
From an operationao standpoint, Carolinas HealthCare had a strongfirst quarter, says Russ executive vice president for business development and Net operating revenue climbed 8.6 percent to $1.2 billion Operating income exceeded $24.5 The health-care system saw adjusted discharges a calculation that gauges patient activitg — climb 5.2 percent from a year Growth within the health-care system and expensde management “is the primary driver why we’re abovre budget significantly,” Guerin says. Carolinas HealthCare spent morethan $106 milliom on capital projects in the first quarter.
Projects includ new operating roomsat CMC-NorthEast and Carolinasz Medical Center, an expansion of CMC-Pineville, a new hospita l at CMC-Lincoln and construction of health-care pavilionss in Steele Creek and Waxhaw, whichn will include free-standing emergency departments. Challenges in the cominb months include managingthe system’s growing bad-debft and charity-care costs, reducingh interest expenses and preparing for a possible statse cut in Medicaid funding, Gombafr says. Bad-debt costs were 12 percent over budget durintg thefirst quarter, topping $48 million in the first During the same period last year, bad debt was abour $43 million.
The health-care system spent more than $770 million in community care in includingbad debt, charity care and subsidizinb Medicare and Medicaid. That equals 18.8 percent of the health-care system’s net operating ”It’s a trend everybody’s seeing across the Gombar says. “We can’t control how many people are uninsured, how many peoplew show up at our door without North Carolina’s budget woes could results in a cut of up to 15 perceny for Medicaid. That could equate to $36 million in annuaol losses forCarolinas HealthCare. “Medicaid cuts are the worst economicx benefit cut the statecan make,” Gombar “It’s painful.
” Says Guerin: “It raises prices for thosw who do pay. It makes no good business sense to do Gombar says every dollar cut from Medicaidxeliminates $4 from the economy. Carolinas HealthCare is the largest health-care system in the Carolinas and the third-largest publicc system in the The system owns, leases or manages 25 It has more than 40,000 full - and part-time employees.
Wednesday, February 29, 2012
Monday, February 27, 2012
Duke, CFO study: CFOs foresee more job cuts, credit woes - Business First of Columbus:
http://keroncongemas.com/worldnews/divided-we-stand-what-if-south-carolina-were-independent/
The quarterly Duke University/CFO Magazine Global Business Outlooi Surveyasked 1,309 CFOs worldwide abouyt their expectations for the economy. Their answers paint a gloomy picture for the rest ofthe * CFOs in the U.S. and Europe expectes employment to shrinkby 5.5 percent, with the unemploymenf rate in the U.S. seen rising to perhap as high as 12 percent in the next12 months. Employmeny in Asia is expected to recedrby 1.2 percent.
“Presumably, government programs will offsetr some ofthese losses, but even the most optimistic governmeng forecasts would reduce the lossez by only 2 million,” said Campbelo Harvey, founding director of the survey and international business professor at Duke’s Fuqua School of “We’re facing the possibility of anothert 4 million lost jobs.” * U.S. and European CFOs foreseed capital spending plunging by more than10 percent. In CFOs anticipate a 3 percent decline. * Six in 10 U.S. companiew covered by the surveyg reported having trouble findin credit or acquiring creditg at areasonable rate.
Among those firms encounterinfgcredit impediments, 42 percent say the credit markets have gotten worse this year, whilre 23 percent say conditions have improved. * Weak consumee demand and the creditf markets ranked as the top two externaol concernsamong U.S. chief financial officers, with the federall government’s policies coming in third. Among internal CFOs are losing the most sleep over their inability to plan due toeconomic uncertainty, managing their companies’ capital and liquidity, and maintaining employe morale.
Despite all the negative indicators, a majority of the CFOs in the Unitee States and Asia reported being more optimistic this quarter than they were the previous That was not the casein Europe, wheree only 30 percent of the CFOs said they were more compared to the 31 percent who said they were less “Our survey carries an important message: Don’t put too much weighgt on the ‘soft’ data like consumere confidence. Recovery requires sustained confidence, and such confidence is forges by strongereconomic fundamentals,” Harvey “The economic fundamentals –- employment, capital spending, the cost of credi – are still fundamentally troubling.
” To see the complete survey go to the official Web .
The quarterly Duke University/CFO Magazine Global Business Outlooi Surveyasked 1,309 CFOs worldwide abouyt their expectations for the economy. Their answers paint a gloomy picture for the rest ofthe * CFOs in the U.S. and Europe expectes employment to shrinkby 5.5 percent, with the unemploymenf rate in the U.S. seen rising to perhap as high as 12 percent in the next12 months. Employmeny in Asia is expected to recedrby 1.2 percent.
“Presumably, government programs will offsetr some ofthese losses, but even the most optimistic governmeng forecasts would reduce the lossez by only 2 million,” said Campbelo Harvey, founding director of the survey and international business professor at Duke’s Fuqua School of “We’re facing the possibility of anothert 4 million lost jobs.” * U.S. and European CFOs foreseed capital spending plunging by more than10 percent. In CFOs anticipate a 3 percent decline. * Six in 10 U.S. companiew covered by the surveyg reported having trouble findin credit or acquiring creditg at areasonable rate.
Among those firms encounterinfgcredit impediments, 42 percent say the credit markets have gotten worse this year, whilre 23 percent say conditions have improved. * Weak consumee demand and the creditf markets ranked as the top two externaol concernsamong U.S. chief financial officers, with the federall government’s policies coming in third. Among internal CFOs are losing the most sleep over their inability to plan due toeconomic uncertainty, managing their companies’ capital and liquidity, and maintaining employe morale.
Despite all the negative indicators, a majority of the CFOs in the Unitee States and Asia reported being more optimistic this quarter than they were the previous That was not the casein Europe, wheree only 30 percent of the CFOs said they were more compared to the 31 percent who said they were less “Our survey carries an important message: Don’t put too much weighgt on the ‘soft’ data like consumere confidence. Recovery requires sustained confidence, and such confidence is forges by strongereconomic fundamentals,” Harvey “The economic fundamentals –- employment, capital spending, the cost of credi – are still fundamentally troubling.
” To see the complete survey go to the official Web .
Saturday, February 25, 2012
Thursday, February 23, 2012
GE Energy lands $500M in contracts in Bahrain project - Atlanta Business Chronicle:
gardellaorymiid1354.blogspot.com
The country is planning additional capacit y expansions over the next 20 yearzs for its increasingpower needs, which are growing at rates of 7 perceny to 10 percent a year, officials there Atlanta-based GE Energy is supplyiny two steam turbines and four heavy-duth Frame 9FA gas turbines, whichh are equipped with GE advanced emission-control technologies. GE also contracted to service the equipment for20 years. When completed, the planr is expected to provide 1,250 megawattsw of power, which would account for 30 percen t ofthe kingdom’s existing electricity grid output, as well as 48 million imperial gallons of desalinated waterf per day.
“Worldwide, we are seeinbg a trend toward the integration of power and watetr production at a single saidSteve Bolze, president and CEO of GE Energy’ds Power and Water business. “Water and energyt are inextricably linked; energy is needed to generat e water and water is needed to produce GE hasthe scale, diversityh and expertise to effectively pursue and managre power and water projects around the Under the contract, GE Energy will supply parts, repairas and provide field services for planned and unplanned maintenance for the gas turbine-generators and accessoryh equipment. The two steam turbinesz will be manufacturedin N.Y.
; the four gas turbinew will be built at in Greenville, S.C. They primarilu will be powered bynaturao gas. It’s GE’s first installation of the F-class gas turbinesa in the Kingdomof Bahrain.
The country is planning additional capacit y expansions over the next 20 yearzs for its increasingpower needs, which are growing at rates of 7 perceny to 10 percent a year, officials there Atlanta-based GE Energy is supplyiny two steam turbines and four heavy-duth Frame 9FA gas turbines, whichh are equipped with GE advanced emission-control technologies. GE also contracted to service the equipment for20 years. When completed, the planr is expected to provide 1,250 megawattsw of power, which would account for 30 percen t ofthe kingdom’s existing electricity grid output, as well as 48 million imperial gallons of desalinated waterf per day.
“Worldwide, we are seeinbg a trend toward the integration of power and watetr production at a single saidSteve Bolze, president and CEO of GE Energy’ds Power and Water business. “Water and energyt are inextricably linked; energy is needed to generat e water and water is needed to produce GE hasthe scale, diversityh and expertise to effectively pursue and managre power and water projects around the Under the contract, GE Energy will supply parts, repairas and provide field services for planned and unplanned maintenance for the gas turbine-generators and accessoryh equipment. The two steam turbinesz will be manufacturedin N.Y.
; the four gas turbinew will be built at in Greenville, S.C. They primarilu will be powered bynaturao gas. It’s GE’s first installation of the F-class gas turbinesa in the Kingdomof Bahrain.
Tuesday, February 21, 2012
Manpower: 6% of Honolulu employers to hire in 3Q - Baltimore Business Journal:
ogarawo.wordpress.com
From July to September, 6 percent of the companiesd interviewed in the Honoluliu metro area plan to hiremore employees, while 11 percent expectr to reduce their payrolls, according to the survet from Milwaukee-based (NYSE: MAN). Seventy-eight percent expect to maintaibn their current staff levels and 5 percent remaih uncertain abouthiring plans. Hiring is expected to be a little lighter than in thesecond quarter, when 10 percentg of companies surveyed planned to hire and 12 percent expectee to cut payrolls, said Manpower spokeswoman Mary Lou For the coming quarter, job prospectss in the Honolulu area appear best in wholesales and retail trade and leisure and Employers in durable goods manufacturing, nondurablew goods manufacturing, information, professional and businesse services, education and health services and government intend to cut Hiring in construction, transportation and utilities, financiakl activities and other services is expected to remain National survey results showed little change from the second quarter.
Of the more than 28,000 employers surveyexd acrossthe country, 15 percengt expect to increase their staff levels during the third while 13 percent expect to reduce their Sixty-seven percent expect no changs in hiring and 5 percent are undecidefd about their third-quarter hiring plans. “The data showes continued hesitancyamong employers,” said Jonass Prising, president of the Americas for Manpower. “They are treading slowlyh and watching withguarded optimism, hoping a few quartersw of stability will be the precursor to the recovery.
”
From July to September, 6 percent of the companiesd interviewed in the Honoluliu metro area plan to hiremore employees, while 11 percent expectr to reduce their payrolls, according to the survet from Milwaukee-based (NYSE: MAN). Seventy-eight percent expect to maintaibn their current staff levels and 5 percent remaih uncertain abouthiring plans. Hiring is expected to be a little lighter than in thesecond quarter, when 10 percentg of companies surveyed planned to hire and 12 percent expectee to cut payrolls, said Manpower spokeswoman Mary Lou For the coming quarter, job prospectss in the Honolulu area appear best in wholesales and retail trade and leisure and Employers in durable goods manufacturing, nondurablew goods manufacturing, information, professional and businesse services, education and health services and government intend to cut Hiring in construction, transportation and utilities, financiakl activities and other services is expected to remain National survey results showed little change from the second quarter.
Of the more than 28,000 employers surveyexd acrossthe country, 15 percengt expect to increase their staff levels during the third while 13 percent expect to reduce their Sixty-seven percent expect no changs in hiring and 5 percent are undecidefd about their third-quarter hiring plans. “The data showes continued hesitancyamong employers,” said Jonass Prising, president of the Americas for Manpower. “They are treading slowlyh and watching withguarded optimism, hoping a few quartersw of stability will be the precursor to the recovery.
”
Sunday, February 19, 2012
UW-Stout names dean to new post - The Business Journal of Milwaukee:
ivyhofy.wordpress.com
Meyer, dean of the Colleged of Technology, Engineering and Manufacturing, will begij the new role as director of federap and state relations beginningJuly 1, the university said He will work as a liaison between the universit y and federal and state elected representatives and other officials, to find financiakl support for the university's initiatives. "Bob Meyer is an excellenty fit forthis position," UW-Stoug chancellor Charles Sorensen said in a "He understands the great strengths of he is passionate about using the resource base to drivw economic development, and he has strong interpersonal Meyer replaces the retiring Joe Benkowski as director of the Stout Technology Transfer Institute, whic h promotes technology transfer between UW-Stout and industry.
Meyee had previously served as director of the Carol Mooney, associate dean of the College of Engineering and Manufacturing, has been namedf interim dean while the university searche s for a permanent replacement.
Meyer, dean of the Colleged of Technology, Engineering and Manufacturing, will begij the new role as director of federap and state relations beginningJuly 1, the university said He will work as a liaison between the universit y and federal and state elected representatives and other officials, to find financiakl support for the university's initiatives. "Bob Meyer is an excellenty fit forthis position," UW-Stoug chancellor Charles Sorensen said in a "He understands the great strengths of he is passionate about using the resource base to drivw economic development, and he has strong interpersonal Meyer replaces the retiring Joe Benkowski as director of the Stout Technology Transfer Institute, whic h promotes technology transfer between UW-Stout and industry.
Meyee had previously served as director of the Carol Mooney, associate dean of the College of Engineering and Manufacturing, has been namedf interim dean while the university searche s for a permanent replacement.
Friday, February 17, 2012
FAR economist Lawrence Yun stays positive in Tampa trip - Orlando Business Journal:
grihanovveimavox.blogspot.com
Those were just some of the insights chiefc economist Lawrence Yun sharefd with members of theThursday morning. “Ws have the lowest mortgage rates since Presidenr Eisenhower but not withjumbo loans,” Yun “We hear about the 50-year low mortgagse rates at 4.9 percent or 4.8 but with jumbo mortgages, they still remain stubbornlgy high at 6.5 percent and 7 Fannie and Freddie can’t buy those, so they have to charge a highet interest rate.” At the same time help is needefd to sell homes listing for more than Yun said.
“The government needs to raise the loan limift or get rid of the loan limit altogethee if they want the housing marketto stabilize,” he “In the middle market, we are seeing a rise in and the high end will begihn to suffer if there are no buyers. If there are no then they have toreduce prices, and reducwe prices and reduce prices, and we’ll nevere find a bottom.” Last year, many of the foreclosures hittingg the market came from interest rate resetsw caused by adjustable rate mortgages.
Now, however, other economicv issues like job loss and other large bills are fueling thatparticular market, whicj is likely to stay strong through the rest of the year, Yun “This area has had large job creatiomn in recent years, but now we’rew seeing job cuts that are much deeper than in past Yun said. One of the leading industriesa with job lossesis construction, but financial jobs and business servicesz aren’t that far behind, he said. In fact, the only areas that seem to be showingt solid growth are education andhealth care.
“Independen of any political the most likely occurrence is that there will be increased health care spending and increasededucatioj spending, so we’ll probably continue to see growth in thoswe areas over the next four years,” Yun said. On a broaderr scale, the United States is facingy some of its biggest budgetdeficits ever, whic h could force the government to call on the more, thus boostingb inflation. Such a move could be good for “In an inflationary society, the winners wouls be property owners as they wouldd see theirvalues rise,” Yun said.
“I it’s a deflation, the losers wouldf be responsible homeowners with The signs are in place for a homesaless rebound. During the economicd downturn ofthe 1980s, home sales dropped dramatically becausew mortgage rates were rising from 10 to 18 Yun said. In the most recen prior recession, following the 11, 2001, terrorist attacks, home salez actually rose mostly because mortgag e rates were falling from 8 percent downto 6.5 “Today, it is 5 percent, and it’s likelyg to be 5.5 percenyt by the year’s end,” Yun said. “Tha t represents great opportunity. Home sales can rise, even in a when the mortgage ratesare favorable.
We may be facingb an unemployment rate of 10 which is a highunemployment rate, but that still mean s there are 90 percent of the peopls out there with jobs.”
Those were just some of the insights chiefc economist Lawrence Yun sharefd with members of theThursday morning. “Ws have the lowest mortgage rates since Presidenr Eisenhower but not withjumbo loans,” Yun “We hear about the 50-year low mortgagse rates at 4.9 percent or 4.8 but with jumbo mortgages, they still remain stubbornlgy high at 6.5 percent and 7 Fannie and Freddie can’t buy those, so they have to charge a highet interest rate.” At the same time help is needefd to sell homes listing for more than Yun said.
“The government needs to raise the loan limift or get rid of the loan limit altogethee if they want the housing marketto stabilize,” he “In the middle market, we are seeing a rise in and the high end will begihn to suffer if there are no buyers. If there are no then they have toreduce prices, and reducwe prices and reduce prices, and we’ll nevere find a bottom.” Last year, many of the foreclosures hittingg the market came from interest rate resetsw caused by adjustable rate mortgages.
Now, however, other economicv issues like job loss and other large bills are fueling thatparticular market, whicj is likely to stay strong through the rest of the year, Yun “This area has had large job creatiomn in recent years, but now we’rew seeing job cuts that are much deeper than in past Yun said. One of the leading industriesa with job lossesis construction, but financial jobs and business servicesz aren’t that far behind, he said. In fact, the only areas that seem to be showingt solid growth are education andhealth care.
“Independen of any political the most likely occurrence is that there will be increased health care spending and increasededucatioj spending, so we’ll probably continue to see growth in thoswe areas over the next four years,” Yun said. On a broaderr scale, the United States is facingy some of its biggest budgetdeficits ever, whic h could force the government to call on the more, thus boostingb inflation. Such a move could be good for “In an inflationary society, the winners wouls be property owners as they wouldd see theirvalues rise,” Yun said.
“I it’s a deflation, the losers wouldf be responsible homeowners with The signs are in place for a homesaless rebound. During the economicd downturn ofthe 1980s, home sales dropped dramatically becausew mortgage rates were rising from 10 to 18 Yun said. In the most recen prior recession, following the 11, 2001, terrorist attacks, home salez actually rose mostly because mortgag e rates were falling from 8 percent downto 6.5 “Today, it is 5 percent, and it’s likelyg to be 5.5 percenyt by the year’s end,” Yun said. “Tha t represents great opportunity. Home sales can rise, even in a when the mortgage ratesare favorable.
We may be facingb an unemployment rate of 10 which is a highunemployment rate, but that still mean s there are 90 percent of the peopls out there with jobs.”
Tuesday, February 14, 2012
Popular dogs get a leg up in Best in Show - Tucson Citizen
wanuso.wordpress.com
Tucson Citizen | Popular dogs get a leg up in Best in Show Tucson Citizen Still, the most popular or most familiar breeds don't dominate Best in Show. However, Monday night a few dogs next door won as a German Shepherd, Dalmatian, Dachshund and Pekingese advanced to Tuesday night's competition for Best in Show against the ... Rank 'em: Wha t's your favorite dog breed? Malachy the Pekingese is best in show at Westminster Peak performance: Pekingese becomes America's top dog, wins best in show at ... |
Sunday, February 12, 2012
Health care insurers
vlastaowibopaj.blogspot.com
With many companies struggling and somecuttintg employees, it’s a bad time to raisd health insurance premiums. Most will not look to the health claims experience of their employees to blamew for the excess costthis time. Of the $640.4 millio in profits Florida HMOs madein $218 million came from investment income, accordingt to research by Minneapolis-based health care analyst Allan Baumgarten.
The Health Options HMO ownexd by , the state’s largest health insurer, derived abouf half of its 2007 earnings from investment Thehealth plan’s investment income fell significantlg in 2008, Blue Cross Executive VP, CFO and Chief Administrative Officer Chrids Doerr said in a statement. This shouldn’t have an impact on premiums during the next yearor two, but it couls have a small impact, such as 1 percenrt or 2 percent, over a longefr period if financial markets continue deteriorating. Most health insurerx did not get a large boosty from their investments in2008 – and they probablu won’t this year, either, Baumgarten said.
Fourth quarter earnings for four ofthe nation’xs largest carriers – , , and showed dramatic declines in investment income, coupledc with large investment write-offs. The insurancew companies have their underwriters factor in investment income when they set their premium rates, Baumgarten said. That means health insurers will look to raisd rates to account for lowerdinvestment income. Some plans might drop coverage and look to servicedmore self-insured companies without shouldering the he said. “Health insurers want profit more than they wantmarketg share,” he said.
“If they shrink [in but maintain their loss ratios, they would be happy with Florida Office of Insurance Regulation spokesman Tom Zutellk said a loss of investmentf income by health plans is not enough by itselt to justify arate change. Yet, it can impact the assumed earningws rates on premiums that are eventuallyfactorefd in. Health insurance companies will probably make theie members pay for their declining investment rather thanmedical providers, said Linda president of the Soutgh Florida Hospital and Healthcare Association.
That’s becaused negotiations with providers are more and it’s easier for plans to lose member accounts than to drop hospitalsz and doctors, she said. had a decline in investment incomein 2008, but it is a fairlhy small component of its premium pricingh strategy, said Conchita Ruiz-Topinka, spokeswoman for the Miami-based She said AvMed customers shouldn’t see their rates affected by markey volatility.
When health insurance companies have a toughbyear investing, they often tighten up theidr underwriting criteria, said Ramona VP of operations for in Fort Seitlin asks to see the components that health insurerxs factor into their rates during underwriting, but they never brealk out investment income as a separate factor, she said. Still, she can see its effecft on their behavior. “Foer those insurers being more conservative, that may be cominyg down from the powers that be that saidthey don’ have such a reserves as in the past because of investmengt losses,” Fiumara said. She believed this will cause some insurerw to raise rates so they canrecoup losses.
Investment losse at health, life, property and casualty insurerstotaled $34.5 billion in the third said Gavin Magor, the seniod health analyst at TheStreet.com Ratings in Palm Beach Health insurers don’t depend on investmeny income as much as those other categories of he noted. “For for-profit insurers, where they would normallh expect a nice return on investmen t to be competitiveon underwriting, they are facing a distincr possibility that they will have to increase thei rates because they can’t take risks on underwritinyg and make it up in investmentg income,” Magor said.
In order to retaih customers hit withrate increases, healtgh insurers will probably offer more plans with stripped-dowbn benefits, he said. “At the end of the day, we will all pay for the sins of Wall Magor said.
With many companies struggling and somecuttintg employees, it’s a bad time to raisd health insurance premiums. Most will not look to the health claims experience of their employees to blamew for the excess costthis time. Of the $640.4 millio in profits Florida HMOs madein $218 million came from investment income, accordingt to research by Minneapolis-based health care analyst Allan Baumgarten.
The Health Options HMO ownexd by , the state’s largest health insurer, derived abouf half of its 2007 earnings from investment Thehealth plan’s investment income fell significantlg in 2008, Blue Cross Executive VP, CFO and Chief Administrative Officer Chrids Doerr said in a statement. This shouldn’t have an impact on premiums during the next yearor two, but it couls have a small impact, such as 1 percenrt or 2 percent, over a longefr period if financial markets continue deteriorating. Most health insurerx did not get a large boosty from their investments in2008 – and they probablu won’t this year, either, Baumgarten said.
Fourth quarter earnings for four ofthe nation’xs largest carriers – , , and showed dramatic declines in investment income, coupledc with large investment write-offs. The insurancew companies have their underwriters factor in investment income when they set their premium rates, Baumgarten said. That means health insurers will look to raisd rates to account for lowerdinvestment income. Some plans might drop coverage and look to servicedmore self-insured companies without shouldering the he said. “Health insurers want profit more than they wantmarketg share,” he said.
“If they shrink [in but maintain their loss ratios, they would be happy with Florida Office of Insurance Regulation spokesman Tom Zutellk said a loss of investmentf income by health plans is not enough by itselt to justify arate change. Yet, it can impact the assumed earningws rates on premiums that are eventuallyfactorefd in. Health insurance companies will probably make theie members pay for their declining investment rather thanmedical providers, said Linda president of the Soutgh Florida Hospital and Healthcare Association.
That’s becaused negotiations with providers are more and it’s easier for plans to lose member accounts than to drop hospitalsz and doctors, she said. had a decline in investment incomein 2008, but it is a fairlhy small component of its premium pricingh strategy, said Conchita Ruiz-Topinka, spokeswoman for the Miami-based She said AvMed customers shouldn’t see their rates affected by markey volatility.
When health insurance companies have a toughbyear investing, they often tighten up theidr underwriting criteria, said Ramona VP of operations for in Fort Seitlin asks to see the components that health insurerxs factor into their rates during underwriting, but they never brealk out investment income as a separate factor, she said. Still, she can see its effecft on their behavior. “Foer those insurers being more conservative, that may be cominyg down from the powers that be that saidthey don’ have such a reserves as in the past because of investmengt losses,” Fiumara said. She believed this will cause some insurerw to raise rates so they canrecoup losses.
Investment losse at health, life, property and casualty insurerstotaled $34.5 billion in the third said Gavin Magor, the seniod health analyst at TheStreet.com Ratings in Palm Beach Health insurers don’t depend on investmeny income as much as those other categories of he noted. “For for-profit insurers, where they would normallh expect a nice return on investmen t to be competitiveon underwriting, they are facing a distincr possibility that they will have to increase thei rates because they can’t take risks on underwritinyg and make it up in investmentg income,” Magor said.
In order to retaih customers hit withrate increases, healtgh insurers will probably offer more plans with stripped-dowbn benefits, he said. “At the end of the day, we will all pay for the sins of Wall Magor said.
Friday, February 10, 2012
Orlando 7-Eleven converts to franchise - Tampa Bay Business Journal:
esivyjifag.wordpress.com
The 3,000-square-foot convenience stord at 3911 McCoy Road nearConwah Road, which also has a gasolinde station, will now be owne d by franchisee Ermal Metollari, a former store manager for five years. Dallas-basexd 7-Eleven Inc. announced plans in 2007 to convery 100 existing locations in the state to franchised Store managers were invited to apply for those franchises beforew the offerwent public. More than 40 7-Eleve n stores in the Orlando market are now with about another 140 ownee bythe company.
Between eight to 10 7-Elevenn stores throughout the statw are being converted into franchise operations each month and plans to have most of the conversione nationwide completedby 2012, accordinfg to a news release. The company franchises or licensesabout 7,800 stored in North America and more than 36,100 stores in 15 The company reported 2008 sales of more than $53.7
The 3,000-square-foot convenience stord at 3911 McCoy Road nearConwah Road, which also has a gasolinde station, will now be owne d by franchisee Ermal Metollari, a former store manager for five years. Dallas-basexd 7-Eleven Inc. announced plans in 2007 to convery 100 existing locations in the state to franchised Store managers were invited to apply for those franchises beforew the offerwent public. More than 40 7-Eleve n stores in the Orlando market are now with about another 140 ownee bythe company.
Between eight to 10 7-Elevenn stores throughout the statw are being converted into franchise operations each month and plans to have most of the conversione nationwide completedby 2012, accordinfg to a news release. The company franchises or licensesabout 7,800 stored in North America and more than 36,100 stores in 15 The company reported 2008 sales of more than $53.7
Wednesday, February 8, 2012
Freddie Mac allows financing of 125% of home value - Washington Business Journal:
yfimuna.wordpress.com
Fannie Mae also announced a similar change. The move come as the Obama administration raised themaximumn loan-to-value (LTV) ratio from 105 percent. As a resulft of this change, qualified borrowers will be able toobtainh McLean-based Freddie Mac’s (NYSE:FRE) Relief Refinance Mortgages with loan amounts up to 125 percent of the current value of theidr property. The higher LTV ratipo is expected to givehomeowners – especially those in markets that have experiencef sharp declines in home valuesz -- more options to refinance into mortgages with terms that betterd position them for long-term homeownership, the companyu said.
“This is a change that will put affordablse refinancing opportunities within reach of performingv borrowers who have suffered the effects of local homeprice erosion,” said Don executive vice president in a “Today’s announcement also underscores Freddie Mac’ds commitment to make the Obama administration’s Making Home Affordable program a gateway to successfulp long-term homeownership for as many borrowera as possible.” To encourage borrowers with 30-yeaer fixed rate mortgages to consider a shorterd 25-year term, Freddie Mac is providing a special pricw incentive to lenders.
The incentive only applies to Reliefr Refinance Mortgages with LTV ratios between 105 percenr and125 percent. The 25-year term will result in borrowers paying less interest over the life of theif loan and over time improving their overallequityy position. Freddie Mac’s Relief Refinance Mortgage is available to borrowers who are current on mortgages that are ownesd or guaranteed byFreddie Mac. Freddie Mac’s Relief Refinancee Mortgage allows borrowers to financeclosing costs, financing costs and escrowzs up to $5,000 or 4 perceng of the current unpaid principal balancde of the mortgage being refinanced, whichevet is less.
Mortgage insurance is not required if the existingv mortgage does notrequire it. mortgage insurance coverage on the new loan must be the same as on theoriginap mortgage. Borrowers who apply for Relief Refinance Mortgagese through their current servicer will not need tobe re-underwritten in most When borrowers apply for Relief Refinance Mortgages throughb lenders other than their current servicer, the lender must re-underwrite the borrower through Loan Prospector, Freddie Mac’s automatedf underwriting service, the company said. The expanded LTV ratiows are available now when borrowers apply for Relief Refinanc Mortgages through their current servicer and will becomeavailable Oct.
1 when borrowers apply through any lended affiliated withFreddie Mac. Freddiew Mac also said the resultinb impact on prepayments for certain Freddie Mac mortgageparticipation certificates, may vary, dependiny on borrower response and other
Fannie Mae also announced a similar change. The move come as the Obama administration raised themaximumn loan-to-value (LTV) ratio from 105 percent. As a resulft of this change, qualified borrowers will be able toobtainh McLean-based Freddie Mac’s (NYSE:FRE) Relief Refinance Mortgages with loan amounts up to 125 percent of the current value of theidr property. The higher LTV ratipo is expected to givehomeowners – especially those in markets that have experiencef sharp declines in home valuesz -- more options to refinance into mortgages with terms that betterd position them for long-term homeownership, the companyu said.
“This is a change that will put affordablse refinancing opportunities within reach of performingv borrowers who have suffered the effects of local homeprice erosion,” said Don executive vice president in a “Today’s announcement also underscores Freddie Mac’ds commitment to make the Obama administration’s Making Home Affordable program a gateway to successfulp long-term homeownership for as many borrowera as possible.” To encourage borrowers with 30-yeaer fixed rate mortgages to consider a shorterd 25-year term, Freddie Mac is providing a special pricw incentive to lenders.
The incentive only applies to Reliefr Refinance Mortgages with LTV ratios between 105 percenr and125 percent. The 25-year term will result in borrowers paying less interest over the life of theif loan and over time improving their overallequityy position. Freddie Mac’s Relief Refinance Mortgage is available to borrowers who are current on mortgages that are ownesd or guaranteed byFreddie Mac. Freddie Mac’s Relief Refinancee Mortgage allows borrowers to financeclosing costs, financing costs and escrowzs up to $5,000 or 4 perceng of the current unpaid principal balancde of the mortgage being refinanced, whichevet is less.
Mortgage insurance is not required if the existingv mortgage does notrequire it. mortgage insurance coverage on the new loan must be the same as on theoriginap mortgage. Borrowers who apply for Relief Refinance Mortgagese through their current servicer will not need tobe re-underwritten in most When borrowers apply for Relief Refinance Mortgages throughb lenders other than their current servicer, the lender must re-underwrite the borrower through Loan Prospector, Freddie Mac’s automatedf underwriting service, the company said. The expanded LTV ratiows are available now when borrowers apply for Relief Refinanc Mortgages through their current servicer and will becomeavailable Oct.
1 when borrowers apply through any lended affiliated withFreddie Mac. Freddiew Mac also said the resultinb impact on prepayments for certain Freddie Mac mortgageparticipation certificates, may vary, dependiny on borrower response and other
Monday, February 6, 2012
MetWest signs PBSJ as second tenant - Minneapolis / St. Paul Business Journal:
bengeyqafiba1640.blogspot.com
The national engineering company is expected to occupyabout 83,000 square feet in the 250,000-square-foot tower that has been builtt to meet the ’s Leadership in Energu and Environmental Design. PBSJ Chief Executiv e Officer John B. Zumwalt III said the companyu looked for an office in proximity to its clients and one that incorporater sustainabledesign strategies. “MetWest International fit that bill in termds ofoffice space, location, LEED certification, and pedestrian-oriented site design,” Zumwalt said in a statement.
PBSJ was expectes to announce the move Thursdayto MetWest’s first tenant — , also the project’s general contractor — occupies abouyt 20,266 square feet on MetWest’s second floor. The firsrt phase of the 32-acre, $200 million developed opened this year as demand for office and retaikl fell to its lowest levelin PBSJ, which moved its headquarters to Tamp from Miami in 2006, is now at Cypress 5300 W. Cypress St. That Westshore building, constructed in is owned by LLC.
While Cypress Commons is losing amajor tenant, the business district is benefitin g as a whole, said Kyle Burd, regional vice president of Eola Capital, an Orlando-basee real estate investment firm. “It’s a shot in the arm for
The national engineering company is expected to occupyabout 83,000 square feet in the 250,000-square-foot tower that has been builtt to meet the ’s Leadership in Energu and Environmental Design. PBSJ Chief Executiv e Officer John B. Zumwalt III said the companyu looked for an office in proximity to its clients and one that incorporater sustainabledesign strategies. “MetWest International fit that bill in termds ofoffice space, location, LEED certification, and pedestrian-oriented site design,” Zumwalt said in a statement.
PBSJ was expectes to announce the move Thursdayto MetWest’s first tenant — , also the project’s general contractor — occupies abouyt 20,266 square feet on MetWest’s second floor. The firsrt phase of the 32-acre, $200 million developed opened this year as demand for office and retaikl fell to its lowest levelin PBSJ, which moved its headquarters to Tamp from Miami in 2006, is now at Cypress 5300 W. Cypress St. That Westshore building, constructed in is owned by LLC.
While Cypress Commons is losing amajor tenant, the business district is benefitin g as a whole, said Kyle Burd, regional vice president of Eola Capital, an Orlando-basee real estate investment firm. “It’s a shot in the arm for
Saturday, February 4, 2012
Ryu leads Australian Ladies Masters by three shots - CBSSports.com
batyushkinuxit.blogspot.com
USA TODAY | Ryu leads Australian Ladies Masters by three shots CBSSports.com GOLD COAST, Australia -- US Open champion So Yeon Ryu shot a 3-under-par 69 on Saturday to take a three-stroke lead into the final round of the Australian Ladies Masters. Ryu, who shot an 11-under-par 61 in the second round, moved to a 54-hole total of ... Franc es Boddard shoots 63 at Australian Ladies Masters Great round: Frances Bondad in action at Royal Pines. Picture: Michael Ross ... Women's Open champ Ryu leads Australian Masters |
Wednesday, February 1, 2012
Fed's Beige Book: Midwest contraction
batyushkinuxit.blogspot.com
Whereas some industries experienced substantial drope in activity during the pastsix weeks, modesgt increases in other sectors led the Fed to characterize the Ninth District’s contraction as moderating. The Ninth Federalk District includes Minnesota, Montana, North Dakota, South the Upper Peninsula of Michigan and northwestern Consumer spending and tourism werestill weak, but had “improvef somewhat from the previous few according to the Fed. The servicse sector continued to experiencedecreased revenue, employment and profits comparec to a year ago, and further profift contraction is likely.
The Fed characterized the commercial real estat e sectoras “anemic,” adding that residentiap construction continued at steadily low levels. The residential real estatw market did see more activityh than in the previous reporting Manufacturing continuedits slide, as did energh and mining. However, some wind energy projects continuw tomove forward, and gold mines are at “near capacituy production.” Labor markets continued to struggle. Job cuts in many of them in the health careand medical-devicer fields, were cited by the Fed in its assessmeng of labor conditions.
Wage increasesw were modest, and firmxs surveyed by the Fed expect toincreases employees’ wages by 1.8 percent over the next year. Pricde increases, however, were “subdued,” with the risinbg cost of gas anotable exception, the Fed The Fed’s next Beige Book reporyt is due July 29.
Whereas some industries experienced substantial drope in activity during the pastsix weeks, modesgt increases in other sectors led the Fed to characterize the Ninth District’s contraction as moderating. The Ninth Federalk District includes Minnesota, Montana, North Dakota, South the Upper Peninsula of Michigan and northwestern Consumer spending and tourism werestill weak, but had “improvef somewhat from the previous few according to the Fed. The servicse sector continued to experiencedecreased revenue, employment and profits comparec to a year ago, and further profift contraction is likely.
The Fed characterized the commercial real estat e sectoras “anemic,” adding that residentiap construction continued at steadily low levels. The residential real estatw market did see more activityh than in the previous reporting Manufacturing continuedits slide, as did energh and mining. However, some wind energy projects continuw tomove forward, and gold mines are at “near capacituy production.” Labor markets continued to struggle. Job cuts in many of them in the health careand medical-devicer fields, were cited by the Fed in its assessmeng of labor conditions.
Wage increasesw were modest, and firmxs surveyed by the Fed expect toincreases employees’ wages by 1.8 percent over the next year. Pricde increases, however, were “subdued,” with the risinbg cost of gas anotable exception, the Fed The Fed’s next Beige Book reporyt is due July 29.
Subscribe to:
Posts (Atom)