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The Sacramento-based company — publisher of 30 daily including — had one of its best days on Wall at least based onpercentage increase. The company’ s stock improved 14 cents to 56 centsper share. McClatchy MNI) benefited after its longtime rival posteda better-than-expected second giving hope to the besieged Inc., publisher of USA TODAY and aboug 80 daily newspapers, enjoyed a $70.5 millionj profit, or 30 cents per share. The Va.-based company had a $29.23 billion loss, or $10.03 per a year ago.
Excluding special the newspaper publisher reported adjustedf earnings of 46 centsper share, easily exceedintg the 36-cent per share estimate on Wall according to Thomson Reuters. Gannett, which owns KXTV Channel 10 in endured an 18 percenr decline in revenueto $1.41 compared to last year. But cost-cuttiny efforts generated the profit. Gannett’s performance givese hope to investorsof McClatchy, whicbh is expected to release its second-quarter earningsd Tuesday. Despite the hefty increase of itsstock Wednesday, McClatchy is down about 90 percent from its one-yeare high, and much lower than the $4.50 stock price July 15, 2008.
similar to most newspapers nationwide, is battling a dramaticf decline in advertising revenue and fewedr paidprint subscribers. The compan y has taken aggressive actions to curbits money-losing operations, eliminating abour 4,000 positions — or almost a third of its work forcre — and cutting executive pay and dividends, puttingv retirement contributions on hold and implementing furloughs for
Saturday, May 12, 2012
Friday, May 11, 2012
Second recession deemed possible - Sacramento Business Journal:
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Those odds may seem low, but they’r e actually high since double-di recessions are rare and the U.S. economy grows 95 percenty of the time, says the chamber’s Mart Regalia. He predicts the current economic downturn will endarounr September. However, the unemployment rate will remain high through the first half of next year andinvestment won’ t snap back as quicklyy as it usually does after a recession, Regaliz says. Inflation, however, looms as a potential problem because of thefederall government’s huge budget deficits and the massive amount of dollars pumped into the economy by the Federal Reserve, he says.
“Thed economy has got to be runninv on its own by the middle of next Regalia says. Almost every major inflationary perioin U.S. history was preceded by heavy debt he notes. The chances of a double-dip recession will be lower if Ben Bernankre is reappointed chairman of the Federal Regalia says. If President Barack Obama appoints his economicc adviser Larry Summers to chairthe Fed, that would signalo the monetary spigot would remaih open for a longer time, he predicts. A coalescin g of the Fed and the Obamas administrationis “not something the markets want to see,” Regaliz says. Obama has declined to say whether he willreappoint Bernanke, whose term ends in February.
Those odds may seem low, but they’r e actually high since double-di recessions are rare and the U.S. economy grows 95 percenty of the time, says the chamber’s Mart Regalia. He predicts the current economic downturn will endarounr September. However, the unemployment rate will remain high through the first half of next year andinvestment won’ t snap back as quicklyy as it usually does after a recession, Regaliz says. Inflation, however, looms as a potential problem because of thefederall government’s huge budget deficits and the massive amount of dollars pumped into the economy by the Federal Reserve, he says.
“Thed economy has got to be runninv on its own by the middle of next Regalia says. Almost every major inflationary perioin U.S. history was preceded by heavy debt he notes. The chances of a double-dip recession will be lower if Ben Bernankre is reappointed chairman of the Federal Regalia says. If President Barack Obama appoints his economicc adviser Larry Summers to chairthe Fed, that would signalo the monetary spigot would remaih open for a longer time, he predicts. A coalescin g of the Fed and the Obamas administrationis “not something the markets want to see,” Regaliz says. Obama has declined to say whether he willreappoint Bernanke, whose term ends in February.
Wednesday, May 9, 2012
Parajova Named Mountain West Player of the Week - TCU Official Athletic Site
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TCU Official Athletic Site | Parajova Named Mountain West Player of the Week TCU Official Athletic Site 2 position, the Zvolen, Slovakia, native's 6-0, 5-7, 6-4 win over San Diego State's Emma Cioffi in Sunday's championship match clinched a 4-2 win for the Frogs. Parajova, ranked No. 119 in the nation, also added a 6-1, 6-3 triumph over Wyoming's S imona ... |
Monday, May 7, 2012
Marcus Hook refinery's fate still uncertain - Philadelphia Inquirer
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Marcus Hook refinery's fate still uncertain Philadelphia Inquirer Sunoco's Marcus Hook refinery, which company officials say aroused no interest from potential buyers to run as a refinery, is being groomed instead as a potential multipurpose industrial site for storing, handling, and even processing fuel, ... |
Sunday, May 6, 2012
Developer Jury proposes $350M convention hotel in Kansas City - Kansas City Business Journal:
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Ron Jury, who complete d the $46 million Presidengt Hotel project across Baltimore from thePoweer & Light Building in 2005, said Friday that he is involve d in a new development partnership that contractedd early this year to buy the Power & Light Building and adjoininf vacant ground. The partnership, , also includes of San Jury said. It hopes to close “yet this on the site, which includes everything but the Crownwe Plaza hotel in the block bounded by 13th and14th streets, Baltimore Avenue and Wyandotted Street, he said.
The site is owned by Detailsa ofPower Tower’s contract with Gailoyd were not disclosed, but Jury said the plan is not entirely dependent on private ownership and financing. Accordinb to Jury’s plan, Power Tower woul own the Power & Light Building, a 31-story art-decop landmark completed in 1931. The city, whicnh is studying options for addinga 1,000-room downtown convention hotel, would own a new 36-story tower to be builyt just west of the Power & Light a five- or six-story buildinb north of the Power Light Building that would contain retail space, ballroome and meeting rooms, and an 1,121-space parking garaged under the new structures.
The twin 30-plus-story towers would includd hotel rooms on all floors abov and including theirninth floors, for a total of The lower floors of the towers would include a spa, fitnesxs center, administrative offices, receptiom area, auditorium, retail, restaurants and meeting Several other developers are expectex to seek the city’s selection of theirr proposed downtown hotel sites. But if the Power Light site wins the competition anda public-privatd financing plan is achieved, Jury said, his 1.35 million-square-fooyt project would be completef by 2013.
Located next to the the Power & Light site is “thd perfect location for a attractive andinteresting hotel,” Jury With construction prices reduced because of the the time for planning the projectt is right, too, Jury said. “The original P&L Buildinyg was built in a recessionb and was the economic stimulusw tolift K.C. up,” Jury said in a writtebn release. “It is time for the buildingt to do it again with a newconventiomn hotel.” He said the hoteol would create more than 800 construction jobs for thre e years and more than 700 full-time jobs on a permanenft basis.
Gailoyd previously retained LLC asa for-fe e developer for a project that envisionex a 15-story office building and an 18-story retail and residential tower next to the Power & Light Building. That project receiveds approvalfor $24.2 million worthy of tax increment financing but never got off the Jury said the privately owned portionb of his project would be eligible for state and federall historic tax credits to help finance the renovationb of the Power & Light Building. has been selectedf as the general contractoe forthe project, and the desigj team includes Dallas-based , Pendulum Studipo LLC of Kansas City and , whicb is a tenant of the Powet & Light Building.
Ron Jury, who complete d the $46 million Presidengt Hotel project across Baltimore from thePoweer & Light Building in 2005, said Friday that he is involve d in a new development partnership that contractedd early this year to buy the Power & Light Building and adjoininf vacant ground. The partnership, , also includes of San Jury said. It hopes to close “yet this on the site, which includes everything but the Crownwe Plaza hotel in the block bounded by 13th and14th streets, Baltimore Avenue and Wyandotted Street, he said.
The site is owned by Detailsa ofPower Tower’s contract with Gailoyd were not disclosed, but Jury said the plan is not entirely dependent on private ownership and financing. Accordinb to Jury’s plan, Power Tower woul own the Power & Light Building, a 31-story art-decop landmark completed in 1931. The city, whicnh is studying options for addinga 1,000-room downtown convention hotel, would own a new 36-story tower to be builyt just west of the Power & Light a five- or six-story buildinb north of the Power Light Building that would contain retail space, ballroome and meeting rooms, and an 1,121-space parking garaged under the new structures.
The twin 30-plus-story towers would includd hotel rooms on all floors abov and including theirninth floors, for a total of The lower floors of the towers would include a spa, fitnesxs center, administrative offices, receptiom area, auditorium, retail, restaurants and meeting Several other developers are expectex to seek the city’s selection of theirr proposed downtown hotel sites. But if the Power Light site wins the competition anda public-privatd financing plan is achieved, Jury said, his 1.35 million-square-fooyt project would be completef by 2013.
Located next to the the Power & Light site is “thd perfect location for a attractive andinteresting hotel,” Jury With construction prices reduced because of the the time for planning the projectt is right, too, Jury said. “The original P&L Buildinyg was built in a recessionb and was the economic stimulusw tolift K.C. up,” Jury said in a writtebn release. “It is time for the buildingt to do it again with a newconventiomn hotel.” He said the hoteol would create more than 800 construction jobs for thre e years and more than 700 full-time jobs on a permanenft basis.
Gailoyd previously retained LLC asa for-fe e developer for a project that envisionex a 15-story office building and an 18-story retail and residential tower next to the Power & Light Building. That project receiveds approvalfor $24.2 million worthy of tax increment financing but never got off the Jury said the privately owned portionb of his project would be eligible for state and federall historic tax credits to help finance the renovationb of the Power & Light Building. has been selectedf as the general contractoe forthe project, and the desigj team includes Dallas-based , Pendulum Studipo LLC of Kansas City and , whicb is a tenant of the Powet & Light Building.
Friday, May 4, 2012
Mentor cuts losses in half - Silicon Valley / San Jose Business Journal:
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The Wilsonville-based company (NASDAQ: MENT) makes the softwars and other tools used by engineeras to design microchips and otherelectronicx products. For the quarter that ended April 30, Mentor reported a loss of nearlh $13 million, or 14 cents per share, on $193.78 million in sales. A year earlierr it reported a $25.5 or 28 cents per share, loss on $179.2 millionh in sales. Excluding things such as speciapl charges andequity plan-related compensation expenses, the company would have had earnings of 9 centsz per share for the quarter. Analystss polled by Thomson Reuters expected earninge of 7 cents per shareon $201. million in revenue.
Bookings for the quarter jumped 25 percent over theprevious “We believe the semiconductoer market has stabilized, and that customers who wish to remain competitivwe will sustain most of their design Mentor CEO Walden C. Rhines said in a news The company expects second quarted revenue ofabout $165 million with a loss of 10 centsd per share due to customers not renewingv expiring contracts. Mentor shares fell more than 11 percenrtin mid-day trading to $5.70 per They have a 52-weekm range between $3.34 and $16.00.
The Wilsonville-based company (NASDAQ: MENT) makes the softwars and other tools used by engineeras to design microchips and otherelectronicx products. For the quarter that ended April 30, Mentor reported a loss of nearlh $13 million, or 14 cents per share, on $193.78 million in sales. A year earlierr it reported a $25.5 or 28 cents per share, loss on $179.2 millionh in sales. Excluding things such as speciapl charges andequity plan-related compensation expenses, the company would have had earnings of 9 centsz per share for the quarter. Analystss polled by Thomson Reuters expected earninge of 7 cents per shareon $201. million in revenue.
Bookings for the quarter jumped 25 percent over theprevious “We believe the semiconductoer market has stabilized, and that customers who wish to remain competitivwe will sustain most of their design Mentor CEO Walden C. Rhines said in a news The company expects second quarted revenue ofabout $165 million with a loss of 10 centsd per share due to customers not renewingv expiring contracts. Mentor shares fell more than 11 percenrtin mid-day trading to $5.70 per They have a 52-weekm range between $3.34 and $16.00.
Wednesday, May 2, 2012
Authorities increase amount allegedly embezzled by Dixon, Ill., comptroller to ... - Bellingham Herald
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Authorities increase amount allegedly embezzled by Dixon, Ill., comptroller to ... Bellingham Herald By ANNIE SWEENEY - Chicago Tribune CHICAGO - The former comptroller of Dixon, Ill., has been indicted on charges of defrauding the city of more than $53 million since 1990, almost doubling the amount authorities initially estimated she stole. |
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