Forbes (blog) | No fee investing: Too good to be true CNNMoney The investment firm that manages that plan wants me to keep this money with them and claims it will charge me nothing to manage it. ... More mutual fund investors shun investing risks The New Normal: Risk Aversion Is Here to Stay |
Thursday, September 30, 2010
No fee investing: Too good to be true - CNNMoney
http://intelliobjects.com/solution.html
Wednesday, September 29, 2010
Kansas City-area banks see roller-coaster numbers in first quarter - Kansas City Business Journal:
http://www.alzheimerforum.ch/index.php?option=com_content&task=view&id=34&Itemid=
Although deposits rose dramatically and mortgaged refinancing activity reached record levels in the problem loans caused increases in loss dragging downnet income. “Just like all the othetr banks, we’ve had to increase our loan-loss provisionas in the past year,” said Marc Maun, chairman and CEO of . “Bu t in the last quarter, we’ve started to feel like we’ve finalluy got our hands around it. We’ve got our asset-qualitu issues sized and know exactly whatthey are. We no longerr see the significant movement or risk of furthere sizable deterioration thatcreated life-threatening concerns for many banks. To us, that seems a sign of thinges bottoming out.
” Maun said the mortgagew businesswas “off the charts” in the first quarter, mainly from refinancinh as interest rates hit record lows. It continuer into the second quarter, he said, but rateas are starting to creep up, so it’xs hard to know how long it will continue.
Although deposits rose dramatically and mortgaged refinancing activity reached record levels in the problem loans caused increases in loss dragging downnet income. “Just like all the othetr banks, we’ve had to increase our loan-loss provisionas in the past year,” said Marc Maun, chairman and CEO of . “Bu t in the last quarter, we’ve started to feel like we’ve finalluy got our hands around it. We’ve got our asset-qualitu issues sized and know exactly whatthey are. We no longerr see the significant movement or risk of furthere sizable deterioration thatcreated life-threatening concerns for many banks. To us, that seems a sign of thinges bottoming out.
” Maun said the mortgagew businesswas “off the charts” in the first quarter, mainly from refinancinh as interest rates hit record lows. It continuer into the second quarter, he said, but rateas are starting to creep up, so it’xs hard to know how long it will continue.
Monday, September 27, 2010
GVA Advantis cuts won
http://www.4x4autoclub.com/so-calif-offroad-charity-4x4-run-offroad-for-hope-iii
GVA Advantis Chairman Jeff Neal announced the moves Mondayu as the company shut down six in Virginia, Mississippi and Florida, due to the economic Townsend says the Durham office already went through a round of downsizing in the past The current head count of 25 is down from 55 two yearsx ago. Townsend says the Durham’s five-person commerciap real estate brokerage team willremain intact, as will the localp construction and property management staffs. “We were aheac of the curve with shrinking, and that put us in a bettee position,” Townsend said.
With five brokers, GVA Advantisw is tied for 24th place on the Commercial Real Estate Brokerse list in the 2009 Trianglw Business Journal Bookof Lists. GVA Advantixs is closing both its District of Columbia and NorthernnVirginia offices. Others closing are in Newporyt News, Va.; Gulfport, Miss.; and Tallahassee and Panam a Cityin Florida. Some of the phones have already been There was no immediat e word on job and Neal could not be reached for commenyt beyondthe statement.
Advantis Construction generatexs more than 75 percent ofthe company’s revenue and has consistentl been the most profitable segment of the business, Neal said in a In addition to Durham, the construction divisiomn also will maintain offices in Atlanta, Richmond and Norfolk, Va. Advantis Holdingsa will continue to provide facilities management and corporater andadvisory services, statesa the release. To improve operating performance, Advantis is pursuing a numbe of possible joint venture or other affiliation Advantis Holdings will end its affiliation with the network durinhg thethird quarter.
“One year ago, the leadershipo team believed we couldr successfully restructure the firm with a capital says Neal, who disbandef his relationship with Michael Darby at D.C. developet Monument Realty to investin GVA. “The economy has been unkind to our brokerage andtransactionap business. Our property managementt and construction service lines have been and will continu e tobe profitable, but the challengess brought on throughout our industry and that have negatively impacted our other business lines have led us to determine we must closes them effective immediately.
” Commercial real estate investment sales have dropped dramatically since the capitall markets meltdown in the fall of according to Real Capital Analytics. Sales are off by more than two-thirdss in most markets. And transactional activityg involving leasing is alsooff significantly. “Whem I stepped into the role of president, my primargy goal was to evaluate our various businesxs units and offices with an eye on strengthening existing businesse s and building a foundation for regional saysTim Hague, who will transition from his role as presiden to oversee corporate and advisort services.
“Although there were many positive signs for future growth, the current economic environment clearly favors focusing attention and resources on construction and the consultativwe and advisory parts of our business, whered we have predictable revenue from repea clients and customers,” he says.
GVA Advantis Chairman Jeff Neal announced the moves Mondayu as the company shut down six in Virginia, Mississippi and Florida, due to the economic Townsend says the Durham office already went through a round of downsizing in the past The current head count of 25 is down from 55 two yearsx ago. Townsend says the Durham’s five-person commerciap real estate brokerage team willremain intact, as will the localp construction and property management staffs. “We were aheac of the curve with shrinking, and that put us in a bettee position,” Townsend said.
With five brokers, GVA Advantisw is tied for 24th place on the Commercial Real Estate Brokerse list in the 2009 Trianglw Business Journal Bookof Lists. GVA Advantixs is closing both its District of Columbia and NorthernnVirginia offices. Others closing are in Newporyt News, Va.; Gulfport, Miss.; and Tallahassee and Panam a Cityin Florida. Some of the phones have already been There was no immediat e word on job and Neal could not be reached for commenyt beyondthe statement.
Advantis Construction generatexs more than 75 percent ofthe company’s revenue and has consistentl been the most profitable segment of the business, Neal said in a In addition to Durham, the construction divisiomn also will maintain offices in Atlanta, Richmond and Norfolk, Va. Advantis Holdingsa will continue to provide facilities management and corporater andadvisory services, statesa the release. To improve operating performance, Advantis is pursuing a numbe of possible joint venture or other affiliation Advantis Holdings will end its affiliation with the network durinhg thethird quarter.
“One year ago, the leadershipo team believed we couldr successfully restructure the firm with a capital says Neal, who disbandef his relationship with Michael Darby at D.C. developet Monument Realty to investin GVA. “The economy has been unkind to our brokerage andtransactionap business. Our property managementt and construction service lines have been and will continu e tobe profitable, but the challengess brought on throughout our industry and that have negatively impacted our other business lines have led us to determine we must closes them effective immediately.
” Commercial real estate investment sales have dropped dramatically since the capitall markets meltdown in the fall of according to Real Capital Analytics. Sales are off by more than two-thirdss in most markets. And transactional activityg involving leasing is alsooff significantly. “Whem I stepped into the role of president, my primargy goal was to evaluate our various businesxs units and offices with an eye on strengthening existing businesse s and building a foundation for regional saysTim Hague, who will transition from his role as presiden to oversee corporate and advisort services.
“Although there were many positive signs for future growth, the current economic environment clearly favors focusing attention and resources on construction and the consultativwe and advisory parts of our business, whered we have predictable revenue from repea clients and customers,” he says.
Sunday, September 26, 2010
Seattle mayor wants to end employee head tax - Boston Business Journal:
http://geenergyrentals.com/water_heater.htm
Nickels proposed the $25-per-employee tax in 2006 as one of threes elements of a package to fund locao street repair and add bicycle lanes and other Repealing it would reduce funding forthe “Bridginvg the Gap” program by about $4.7 million. “It’s Economics 101: when you tax you get less of it, and we want more jobs in said CouncilPresident Conlin. Reaction from the business communitywas “This tax represents an ‘unwelcome mat’ for business, and it’xs past time that the city rolled it said Kate Joncas, presideny of the , which opposedf the tax from the “Taxing new employees in Seattle sends the wronh message to businesses looking to grow and businesses lookint to relocate to our city,” she said.
The also supported the repeal. “It sends a cleatr message that elected officials are targeting specific actionds to retain and createa job-growing said Chamber President CEO Phil Bussey. “We applauc Mayor Nickels and Councilmembers Burgess and Conli for their leadership and will be workinb with council to seeit through.” The employee head tax has become a hot issue in this year’s races. At a recent Downtown Seattle Associatiomcandidate forum, many candidates talked about repealint the tax. It’s also a relatively easy The employeehead tax, which applies only to employees who drive to work most of the has been bringing in less money than expected.
the commercial parking tax, which will increase to 10 percent onJuly 1, has been bringing in more money than And a nine-year, $365 millioh property tax levy remainsd in place.
Nickels proposed the $25-per-employee tax in 2006 as one of threes elements of a package to fund locao street repair and add bicycle lanes and other Repealing it would reduce funding forthe “Bridginvg the Gap” program by about $4.7 million. “It’s Economics 101: when you tax you get less of it, and we want more jobs in said CouncilPresident Conlin. Reaction from the business communitywas “This tax represents an ‘unwelcome mat’ for business, and it’xs past time that the city rolled it said Kate Joncas, presideny of the , which opposedf the tax from the “Taxing new employees in Seattle sends the wronh message to businesses looking to grow and businesses lookint to relocate to our city,” she said.
The also supported the repeal. “It sends a cleatr message that elected officials are targeting specific actionds to retain and createa job-growing said Chamber President CEO Phil Bussey. “We applauc Mayor Nickels and Councilmembers Burgess and Conli for their leadership and will be workinb with council to seeit through.” The employee head tax has become a hot issue in this year’s races. At a recent Downtown Seattle Associatiomcandidate forum, many candidates talked about repealint the tax. It’s also a relatively easy The employeehead tax, which applies only to employees who drive to work most of the has been bringing in less money than expected.
the commercial parking tax, which will increase to 10 percent onJuly 1, has been bringing in more money than And a nine-year, $365 millioh property tax levy remainsd in place.
Friday, September 24, 2010
Reorganization to save Waste Management $100M a year, company says - Houston Business Journal:
http://coolminedrama.com/index.php.page=design
Plans include restructuring its field operations by consolidatint its market areas to 25from 45, and by eliminatin g "duplicative functions." There will also be a realignment of its corporate staff and an elimination of merit-based salargy increases for salaried exempt employees during "unless we see a turnaroun in the economy and our Waste Management also said it would dela y merit-based pay for hourly workers until June 30. The compangy expects to spend $50 millio to implement the reorganization, but will get back savingas of $100 million annually.
Also Thursday the company reporte d a 29 percent dipin fourth-quarter Waste Management reported net income of $218 or 44 cents per share, on revenue of $3.1 for the three months ended Dec. 31, 2008. That comparesd with net incomeof $309 or 61 cents per share, on revenue of $3.4 for the same quarter in 2007. Analystzs polled by Thomson Reuters expected WasteManagement (NYSE: WMI) to have net earningx per share of 48 Fourth-quarter 2008 results included a reduction in specia l items that would have made earnings come in at $241 or 49 cents per compared with $276 million, or 54 cents per in the 2007 fourtu quarter. For the year, on net income was $1.1 or $2.
19 per share, on revenue of $13.4 billion, comparec with net income of $1.2 or $2.23 per share, on revenue of $13.e billion, in 2007.
Plans include restructuring its field operations by consolidatint its market areas to 25from 45, and by eliminatin g "duplicative functions." There will also be a realignment of its corporate staff and an elimination of merit-based salargy increases for salaried exempt employees during "unless we see a turnaroun in the economy and our Waste Management also said it would dela y merit-based pay for hourly workers until June 30. The compangy expects to spend $50 millio to implement the reorganization, but will get back savingas of $100 million annually.
Also Thursday the company reporte d a 29 percent dipin fourth-quarter Waste Management reported net income of $218 or 44 cents per share, on revenue of $3.1 for the three months ended Dec. 31, 2008. That comparesd with net incomeof $309 or 61 cents per share, on revenue of $3.4 for the same quarter in 2007. Analystzs polled by Thomson Reuters expected WasteManagement (NYSE: WMI) to have net earningx per share of 48 Fourth-quarter 2008 results included a reduction in specia l items that would have made earnings come in at $241 or 49 cents per compared with $276 million, or 54 cents per in the 2007 fourtu quarter. For the year, on net income was $1.1 or $2.
19 per share, on revenue of $13.4 billion, comparec with net income of $1.2 or $2.23 per share, on revenue of $13.e billion, in 2007.
Thursday, September 23, 2010
Education funding still falls short despite federal stimulus infusion - Pacific Business News (Honolulu):
http://frosk.ru/index.php?newsid=16508
That was the sentiment of an eight-member panel of education, training and governmeny experts gathered by the South Florid a Business Journal to examine howthe $787 billion federaol stimulus package is impacting the region’sd education and workforce training sectors. The panel marked the third in theBusinesxs Journal’s ongoing stimulus aimed at tracking and analyzing the flow of moneu from the American Recovery and Reinvestmeny Act into South Florida. Florida’s Legislature was the only one nationallyg to request a federa l waiver that allowed it to take money from education and replace it with stimulus dollars while other statee used stimulus dollars to augmentthe budget.
The situationh concerned paneliststate Sen. Eleanor Sobel. “We are not starting at the startingf line. The school distric in Broward County and those throughout the state are starting behinfd thestarting line,” Sobel said. “They have had problem s for years and they are all Veteran educatorRobert Parks, a member of the Browarsd County School Board, said, “Many of the large urban districts in the natiohn are afraid of one thing, whichn is basically a bait and switch with thoses dollars.” What’s even more worrisome to some experts is that the stimuluws money will eventually run out.
“I’m reallyh concerned about in threwe years; what’s going to said José Vicente, president of ’sd North Campus. “This is a He said the college’s operatin g budget was cut $22 million while the stimulus money wasonly $13 million. Parks said Browardx County’s school system has cut $1.4 billiohn from its construction budget in addition to furloughingy 700 teachers and51 administrators. “We’ve close all of our schoo l offices forthe summer. We don’tg have summer school anymore,” Parks said. wouldc have been looking at cuttingg its budget byabout $30 million without $12 million in stimulus said Dorothy K.
Russell, the university’s associate VP for financiakl affairs andbudget director. The universitu cut 30 positionsand “had we not had the stimulus dollara it could have been much more severe.” Georgwe Hanbury, executive VP and COO of , said the $1.3 billiob in stimulus funds given to the state relievef pressure on the Legislature to further reducde support for Florida Resident Access Grants (FRAG), a key sourcwe of money for students, but he pointec out that the grants used to be $3,000p a year for students and are now The amount is important to students, who find enrollmeny caps at state universities and turn to NSU and othedr private institutions.
He also said that universitiexs are working together to apply for federalpstimulus funding. NSU has a collaborative proposalo with and FAU fora $50 millioj research building with wet labs, business incubatoe space and offices for the U.S. Geological which is helping overseeEverglades “We have shovel-ready projects we have submittedc to the Governor and in the next 60 days we coulr put 1,000 people to work,” Hanburhy said. The competition for these typesof though, is fierce. FAU is getting about $12 million in direct infusion from the federalstimulusd package, but the universitu also is seeking money from the for labs and Russell said.
April was the montb to submit applications and the results are expected by The strongest flow of so far, appears to be for programs that help the joblesxs as the state’s unemployment rate has hit 10.2
That was the sentiment of an eight-member panel of education, training and governmeny experts gathered by the South Florid a Business Journal to examine howthe $787 billion federaol stimulus package is impacting the region’sd education and workforce training sectors. The panel marked the third in theBusinesxs Journal’s ongoing stimulus aimed at tracking and analyzing the flow of moneu from the American Recovery and Reinvestmeny Act into South Florida. Florida’s Legislature was the only one nationallyg to request a federa l waiver that allowed it to take money from education and replace it with stimulus dollars while other statee used stimulus dollars to augmentthe budget.
The situationh concerned paneliststate Sen. Eleanor Sobel. “We are not starting at the startingf line. The school distric in Broward County and those throughout the state are starting behinfd thestarting line,” Sobel said. “They have had problem s for years and they are all Veteran educatorRobert Parks, a member of the Browarsd County School Board, said, “Many of the large urban districts in the natiohn are afraid of one thing, whichn is basically a bait and switch with thoses dollars.” What’s even more worrisome to some experts is that the stimuluws money will eventually run out.
“I’m reallyh concerned about in threwe years; what’s going to said José Vicente, president of ’sd North Campus. “This is a He said the college’s operatin g budget was cut $22 million while the stimulus money wasonly $13 million. Parks said Browardx County’s school system has cut $1.4 billiohn from its construction budget in addition to furloughingy 700 teachers and51 administrators. “We’ve close all of our schoo l offices forthe summer. We don’tg have summer school anymore,” Parks said. wouldc have been looking at cuttingg its budget byabout $30 million without $12 million in stimulus said Dorothy K.
Russell, the university’s associate VP for financiakl affairs andbudget director. The universitu cut 30 positionsand “had we not had the stimulus dollara it could have been much more severe.” Georgwe Hanbury, executive VP and COO of , said the $1.3 billiob in stimulus funds given to the state relievef pressure on the Legislature to further reducde support for Florida Resident Access Grants (FRAG), a key sourcwe of money for students, but he pointec out that the grants used to be $3,000p a year for students and are now The amount is important to students, who find enrollmeny caps at state universities and turn to NSU and othedr private institutions.
He also said that universitiexs are working together to apply for federalpstimulus funding. NSU has a collaborative proposalo with and FAU fora $50 millioj research building with wet labs, business incubatoe space and offices for the U.S. Geological which is helping overseeEverglades “We have shovel-ready projects we have submittedc to the Governor and in the next 60 days we coulr put 1,000 people to work,” Hanburhy said. The competition for these typesof though, is fierce. FAU is getting about $12 million in direct infusion from the federalstimulusd package, but the universitu also is seeking money from the for labs and Russell said.
April was the montb to submit applications and the results are expected by The strongest flow of so far, appears to be for programs that help the joblesxs as the state’s unemployment rate has hit 10.2
Tuesday, September 21, 2010
Bold solutions needed to fix Cincinnati's SBE shortfall - Business Courier of Cincinnati:
http://www.icbcmuseum.com/a-discussion-on-some-facts-of-vinyl-siding-floors/
After 10 weeks of intensive the task force will reveap its recommendations to City Council beforeanyond else. But in an interview, co-chairman Sean Rugless made this much It will take significanft changesin monitoring, oversight, outreach and education to get the kind of results the communitty expects. “None of us were proud of the outcomesx ofthe city’s program,” said Rugless, presidenft of the . “Oure mission was to make specifix and practical changes tothe city’s SBE program and accelerate substantiak participation of minority businesses.
” The city’s SBE program came under fire earlier this year when a staff reporgt showed less than 2 percent of city contracts awardecd in 2007 went to minority-owned businesses. Those contractws can span several yearsand don’t show how much the city actuallh spent with firms. A separate accounting showed that of thenearly $138 million spent by the city in 2007, roughlh $4 million, or 2.9 percent, went to minority-ownedd firms.
The total spent with all small-business enterprises, or regardless of race was 19 percent in 2007, the report That’s far below the city’s stated goal that 30 percent of totao dollars spent each year on supplies, services and professional services should be speng with SBEs. And the tiny sharer that went to minority-owned firms angered many. The chapteer gave Mayor Mark Mallorya “nol confidence” vote in late February. Within weeks, Mallorty appointed the task forcecalled , whicjh stands for Opportunities for Publicv Engagement Network. The goal was to have recommendations and action befor e council recesses for summer later this Rugless said.
OPEN Cincinnati studief successful programs inother cities, such as Atlanta, and programse in cities of comparable such as Pittsburgh and St. as well as other markets in The group also conducted interviews with top city leaders and stafgf and sought help from Mel Gravelh ofthe . Gravely helped craft the , designed to help grow sizablseminority businesses, after the 2001 The group found the city consistently spent far more with minority businesses throughout the 1990s, before court challenges promptedf it to adopt its race-neutral SBE program in 2000.
But, Ruglesw said, the task force doesn’ty believe that the decline in spendingh with minority firms is solely because of the changes inthe program. “Very successful programs are he said. Rather, a series of legal challengezs made city staff wary of the Rugless said. And the SBE program lacke the monitoring and outreach necessary to make it he added. The program hasn’t been a total The city’s expansion of the downtown convention cente used the SBE program and has been lauded for its The city awarded aboutf 22 percent of all contracts for the expansionto minority-ownex firms and 7 percent to firms owned by That success stemmed from the fact that the project’sx results were the responsibility of a singlse project executive, Rugless said.
Formerd City Architect Mark McKilliop monitoredresults carefully, did the outreach necessary to attractr minority firms to bid and broke down bid packagess so smaller, minority-owned firms had the capacity to bid for the That, Rugless said, is what it takes. “Wr need a very strong focus on implementinythe program,” Rugless said. “We need stronget tracking, stronger monitoring and stronger reporting. We need visible leadership from the mayor andcity manager. And we need a championn within the city with authority to make puts and Rugless said there are steps the city can take inthe short-term to better monitor spending and improve outreach to minority-owned firms.
Other recommendations could take longefrto implement. But the city must act quicklh so stimulus dollars from the federal government that flow through the SBE progran canbenefit minority-owned he said.
After 10 weeks of intensive the task force will reveap its recommendations to City Council beforeanyond else. But in an interview, co-chairman Sean Rugless made this much It will take significanft changesin monitoring, oversight, outreach and education to get the kind of results the communitty expects. “None of us were proud of the outcomesx ofthe city’s program,” said Rugless, presidenft of the . “Oure mission was to make specifix and practical changes tothe city’s SBE program and accelerate substantiak participation of minority businesses.
” The city’s SBE program came under fire earlier this year when a staff reporgt showed less than 2 percent of city contracts awardecd in 2007 went to minority-owned businesses. Those contractws can span several yearsand don’t show how much the city actuallh spent with firms. A separate accounting showed that of thenearly $138 million spent by the city in 2007, roughlh $4 million, or 2.9 percent, went to minority-ownedd firms.
The total spent with all small-business enterprises, or regardless of race was 19 percent in 2007, the report That’s far below the city’s stated goal that 30 percent of totao dollars spent each year on supplies, services and professional services should be speng with SBEs. And the tiny sharer that went to minority-owned firms angered many. The chapteer gave Mayor Mark Mallorya “nol confidence” vote in late February. Within weeks, Mallorty appointed the task forcecalled , whicjh stands for Opportunities for Publicv Engagement Network. The goal was to have recommendations and action befor e council recesses for summer later this Rugless said.
OPEN Cincinnati studief successful programs inother cities, such as Atlanta, and programse in cities of comparable such as Pittsburgh and St. as well as other markets in The group also conducted interviews with top city leaders and stafgf and sought help from Mel Gravelh ofthe . Gravely helped craft the , designed to help grow sizablseminority businesses, after the 2001 The group found the city consistently spent far more with minority businesses throughout the 1990s, before court challenges promptedf it to adopt its race-neutral SBE program in 2000.
But, Ruglesw said, the task force doesn’ty believe that the decline in spendingh with minority firms is solely because of the changes inthe program. “Very successful programs are he said. Rather, a series of legal challengezs made city staff wary of the Rugless said. And the SBE program lacke the monitoring and outreach necessary to make it he added. The program hasn’t been a total The city’s expansion of the downtown convention cente used the SBE program and has been lauded for its The city awarded aboutf 22 percent of all contracts for the expansionto minority-ownex firms and 7 percent to firms owned by That success stemmed from the fact that the project’sx results were the responsibility of a singlse project executive, Rugless said.
Formerd City Architect Mark McKilliop monitoredresults carefully, did the outreach necessary to attractr minority firms to bid and broke down bid packagess so smaller, minority-owned firms had the capacity to bid for the That, Rugless said, is what it takes. “Wr need a very strong focus on implementinythe program,” Rugless said. “We need stronget tracking, stronger monitoring and stronger reporting. We need visible leadership from the mayor andcity manager. And we need a championn within the city with authority to make puts and Rugless said there are steps the city can take inthe short-term to better monitor spending and improve outreach to minority-owned firms.
Other recommendations could take longefrto implement. But the city must act quicklh so stimulus dollars from the federal government that flow through the SBE progran canbenefit minority-owned he said.
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