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Buffett, his company (NYSE: BRK.A, BRK.B), and that company’sz subsidiary , are each no longeer stockholders inConstellation (NYSE: CEG), according to a form with the Securities and Exchange Commission filed Monday. They have been slowluy divesting the stock over the past weeks and owning 7.3 percent in February and 6.3 percenr last month. The sale ends the relationshilp between the investorand Constellation, one of two Fortuns 500 companies in Baltimore Iowa-based MidAmerican got a 10 percenf stake in Constellation when its $4.
7 billiob bid for the companyt made in September was rejected three months That offer came afte a cash crunch led to a steep decline in Constellation’ s stock price over several days and some investors feared bankruptcy. Constellation spurned the offer in favore of a deal tosell 49.99 percent of its nuclear businessa for $4.5 billion to French firm , whicb had also been in the biddingg for the company in September. For the cancelation, Constellation had to pay $175 millionm in breakup fees and $418 million for It also had to repahya $1 billion loan from Buffetyt with 14 percent interest. A decision on whether the deal with EDF requiresz Maryland approval is expected ina week.
The deal is expectedx to closethis fall.
Thứ Tư, 29 tháng 6, 2011
Thứ Hai, 27 tháng 6, 2011
Restaurant industry outlook improves - Triangle Business Journal:
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The Association’s Restaurant Performance Index, or RPI, is a monthlyt composite index that tracks the health of and outloolk forthe U.S. restaurant It stood at 98.6 in up by 0.8 percent from its highest level in11 months. The findings are in line with bullisbh data reported in theMay 25, 2009, issued of Triangle Business Journal that indicated restaurants in Wake Countuy generally are faring The data show that from July 2008 through Februarh 2009, Wake County collected nearly $11.8 millionm from a 1 percent tax on prepared food and beverages.
That’a almost a 7 percent increase fromthe $11 milliojn collected in the same perios in the previous fiscal year, according to information provided by the county. Hudson Riehle, senior vice president of researcbh and information services for the NationalRestaurant Association, says, “The recent growth in the RPI was drivenh by the ‘expectations’ component, which rose above 100 in April for the firs t time in 18 months, a levelp which indicates expansion.
” “Although the RPI’s ‘current indicators are still in a periodf of contraction, the solid improvement in the forward-looking indicators suggestse that the end of the industry’s downturbn may be in sight, says Riehle. The RPI is based on responsex tothe association’s Restaurant Industry Trackingf Survey, which is fielded monthly among restauranrt operators nationwide on a variety of including sales, traffic, labor and capital expenditures. The indes consists of two components the Current Situation Index and theExpectationsx Index.
The Current Situation Index, which measures current trends in four industryindicators (same-store traffic, labor and capital expenditures), stood at 97.0 in April, up by 0.9 percenf from March and its highest level since August 2008. April represented the 20th consecutive monthbelo 100, which continues to signify contraction in the current situation Restaurant operators reported negative customer traffic levels for the 20th consecutived month in April. About 23 percengt of restaurant operators reportef an increase in customer trafficf between April 2008 andApripl 2009, up from 20 percent who reporterd similarly in March.
Also, 60 percent of operatorsx reported a traffic declinein April, down from 63 percent who reported similarly in Restaurant operators also continue to grow more optimistic abougt the economy, with 37 percent saying they expect economic conditions to improve in six months, up from 30 percentr who reported similarly last month and the highesgt level in three years. In comparison, only 16 percent of operators expect economic conditions to worsen insix months, down from 21 percenf last month. The Washington, D.C.
-based National Restaurany Association is a business association for therestauranyt industry, comprising 945,000 restaurant and foodservice outletss and a work force of 13 millionj employees.
The Association’s Restaurant Performance Index, or RPI, is a monthlyt composite index that tracks the health of and outloolk forthe U.S. restaurant It stood at 98.6 in up by 0.8 percent from its highest level in11 months. The findings are in line with bullisbh data reported in theMay 25, 2009, issued of Triangle Business Journal that indicated restaurants in Wake Countuy generally are faring The data show that from July 2008 through Februarh 2009, Wake County collected nearly $11.8 millionm from a 1 percent tax on prepared food and beverages.
That’a almost a 7 percent increase fromthe $11 milliojn collected in the same perios in the previous fiscal year, according to information provided by the county. Hudson Riehle, senior vice president of researcbh and information services for the NationalRestaurant Association, says, “The recent growth in the RPI was drivenh by the ‘expectations’ component, which rose above 100 in April for the firs t time in 18 months, a levelp which indicates expansion.
” “Although the RPI’s ‘current indicators are still in a periodf of contraction, the solid improvement in the forward-looking indicators suggestse that the end of the industry’s downturbn may be in sight, says Riehle. The RPI is based on responsex tothe association’s Restaurant Industry Trackingf Survey, which is fielded monthly among restauranrt operators nationwide on a variety of including sales, traffic, labor and capital expenditures. The indes consists of two components the Current Situation Index and theExpectationsx Index.
The Current Situation Index, which measures current trends in four industryindicators (same-store traffic, labor and capital expenditures), stood at 97.0 in April, up by 0.9 percenf from March and its highest level since August 2008. April represented the 20th consecutive monthbelo 100, which continues to signify contraction in the current situation Restaurant operators reported negative customer traffic levels for the 20th consecutived month in April. About 23 percengt of restaurant operators reportef an increase in customer trafficf between April 2008 andApripl 2009, up from 20 percent who reporterd similarly in March.
Also, 60 percent of operatorsx reported a traffic declinein April, down from 63 percent who reported similarly in Restaurant operators also continue to grow more optimistic abougt the economy, with 37 percent saying they expect economic conditions to improve in six months, up from 30 percentr who reported similarly last month and the highesgt level in three years. In comparison, only 16 percent of operators expect economic conditions to worsen insix months, down from 21 percenf last month. The Washington, D.C.
-based National Restaurany Association is a business association for therestauranyt industry, comprising 945,000 restaurant and foodservice outletss and a work force of 13 millionj employees.
Thứ Sáu, 24 tháng 6, 2011
Thứ Tư, 22 tháng 6, 2011
One Man Fights To Keep H&H Bagels On The Upper West Side - Gothamist
framptongeqeaqu1461.blogspot.com
New York Times (blog) | One Man Fights To Keep H&H Bagels On The Upper West Side Gothamist In a crisis for the Upper West Side that began only yesterday, the beloved retail location of H&H Bagels on 80th Street and Broadway announced it's closing today. We were moved to visit the store this morning after NYC Deputy Mayor Howard Wolfson made ... Remembering H&H: An Insider's Tale of Bagel Making |
Thứ Hai, 20 tháng 6, 2011
Occupancy declines expected at Renaissance - St. Louis Business Journal:
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The report, issued to bondholders March 16, projects occupancy at the 1,083-roo m hotel at 800 Washington Avenues willdecrease 9.1 percent in 2009, to less than 60 with revenue per room declining 15 or $12. At the end of 2008, according to the report, revenue per available room, or RevPar, at the Renaissance was The report, which can be found notes that projectec revenue at the Renaissance in 2009is $40. 3 million, or $4 million less than previouslt anticipated, due to a decline in transient roomnightg bookings. The report blames the weakened economy for the drop in demans for hotel rooms nationwide andin St. “Downtown St.
Louis lacks the demand drivers needexd to attract significant tourists and the Jones Lang LaSallwreport states. Cardinals baseball and the Arch are primargy drivers of tourist andgroup traffic, accordinbg to the report, primarily in the summer. The report said planneds renovations atthe Renaissance’s competitors downtown also will lead to a declins in demand. The consultant’s report to close the Suitees portion of the hotel temporarily when the Renaissance located on the south side ofWashington Avenue, is not fullyy occupied. The Suites portion of the hotel is located on the northu side of Washington Avenu in the formerLennox Building.
Bondholders on the $277 million Renaissance hotekl took ownership of the hotek in after its previous owners defaulted on making an interestt payment onits $98 million debt The prior owner, New Orleans-based , presented a forbearancre option to bondholders late last year to avoid foreclosure, a measuree bondholders rejected. Housing Horizons, a subsidiaryy of Dallas-based , transferrex its majority ownership stake in the hotek toHRI Properties, the developer of the in early 2009. Jones Lang LaSallde is evaluating cost reductions ranginhgbetween $250,000 and $1 milliohn annually in order for the Renaissance to achievs a goal net profig of $1 million in 2009.
The report, issued to bondholders March 16, projects occupancy at the 1,083-roo m hotel at 800 Washington Avenues willdecrease 9.1 percent in 2009, to less than 60 with revenue per room declining 15 or $12. At the end of 2008, according to the report, revenue per available room, or RevPar, at the Renaissance was The report, which can be found notes that projectec revenue at the Renaissance in 2009is $40. 3 million, or $4 million less than previouslt anticipated, due to a decline in transient roomnightg bookings. The report blames the weakened economy for the drop in demans for hotel rooms nationwide andin St. “Downtown St.
Louis lacks the demand drivers needexd to attract significant tourists and the Jones Lang LaSallwreport states. Cardinals baseball and the Arch are primargy drivers of tourist andgroup traffic, accordinbg to the report, primarily in the summer. The report said planneds renovations atthe Renaissance’s competitors downtown also will lead to a declins in demand. The consultant’s report to close the Suitees portion of the hotel temporarily when the Renaissance located on the south side ofWashington Avenue, is not fullyy occupied. The Suites portion of the hotel is located on the northu side of Washington Avenu in the formerLennox Building.
Bondholders on the $277 million Renaissance hotekl took ownership of the hotek in after its previous owners defaulted on making an interestt payment onits $98 million debt The prior owner, New Orleans-based , presented a forbearancre option to bondholders late last year to avoid foreclosure, a measuree bondholders rejected. Housing Horizons, a subsidiaryy of Dallas-based , transferrex its majority ownership stake in the hotek toHRI Properties, the developer of the in early 2009. Jones Lang LaSallde is evaluating cost reductions ranginhgbetween $250,000 and $1 milliohn annually in order for the Renaissance to achievs a goal net profig of $1 million in 2009.
Thứ Sáu, 17 tháng 6, 2011
Gulf Coast Green Energy test project seeking to generate electricity from inactive gas well - The Business Journal of Milwaukee:
http://bankinonline.com/en/finance/page_11.html
will extract geo-fluid essentially hot saltwater — from a nonproducing natural gas well and run it through a heat exchanged before dumping it back into adisposap well, creating electricity in the The project is part of a series of federao contracts awarded through the Researchb Partnership to Secure Energy for a Sugar Land nonprofiyt dedicated in part to advancing technology in maturing oil and gas RPSEA will chip in about $150,000 to match a similafr amount put up by the company for a three-year test on a nonproducing well.
Loy president and CEO of GulfCoast Green, says bringing a dead well back to life servesa a dual purpose by providinhg electric power and sparking a new revenue “It’s very attractive for owners of welles that are nonproducing,” Sneary “If a well produces electricity for 15 to 20 year s that just reduces your risk. If you hit a dry it reduces your risk.” Mike Ming, president of says the system could help offsetfoperating costs. “Wells that are somewhat marginal are very susceptibld tooperating costs,” says “If you want to increase recover from wells and increase well life you can do that by lowerinf your baseline operating cost.
This offsetsz purchases of electricity from external so it effectively lowers youroperatinh costs.” Excess electricity from a well close enough to transmissioh infrastructure could be sold back to the “If you generate electricity on-site you’re negatingb the need to buy electricityy from elsewhere,” says Ming. He says the which would mark the first commercialk application ofexotherm technology, is expecter to be finalized within a month or so. “It’s a high-potentia area,” he says. “It’s one of the more appliedd areas of geothermalenergy capture.
” He notes the projecy was one of the few that met almostg all of RPSEA’s criteria. Says Ming: “Out selection committee was really enthusiastic about this particular Sneary says the test project will likely take placin Mississippi. The Gulf Coast region has a lot of wellw that match the water temperaturwand flow-rate qualifications — between 180 and 200 gallons per minute — to run the generator. Inside the heat the saltwater, which must be a minimum of 180 is run through a tube that abut another tube containingthe “working fluid,” a refrigerang that boils off at a low temperature.
“The high-pressure vapoer turns a twin screw expander,” says Sneary. “It’sx very similar to a steam turbine, but it operatezs at about one-tenth the speed, and we use workingb fluid insteadof steam.” The test project, a 50-kilowatt-per-hourr unit will be run with assistancee from in Plano, the geothermal lab at in Dallas and the U.S. Army Corpws of Engineers in Mississippi. The manufacturer, of Carsom City, Nev., has a 500 kilowatt-per-hour unit as Gulf Coast Green is the exclusive regional distributot forthe units. The average home operateds on 42 to 45 kilowattseper hour.
Sneary says the cost of electricith needs to stay above about 8 cents per kilowatt for the systemk to make financial sense and pay foritself in, at three years. But that scenario doesn’t includes any carbon credits or green tax breaks that mighty be coming out of Washington to further benefit thebusiness
will extract geo-fluid essentially hot saltwater — from a nonproducing natural gas well and run it through a heat exchanged before dumping it back into adisposap well, creating electricity in the The project is part of a series of federao contracts awarded through the Researchb Partnership to Secure Energy for a Sugar Land nonprofiyt dedicated in part to advancing technology in maturing oil and gas RPSEA will chip in about $150,000 to match a similafr amount put up by the company for a three-year test on a nonproducing well.
Loy president and CEO of GulfCoast Green, says bringing a dead well back to life servesa a dual purpose by providinhg electric power and sparking a new revenue “It’s very attractive for owners of welles that are nonproducing,” Sneary “If a well produces electricity for 15 to 20 year s that just reduces your risk. If you hit a dry it reduces your risk.” Mike Ming, president of says the system could help offsetfoperating costs. “Wells that are somewhat marginal are very susceptibld tooperating costs,” says “If you want to increase recover from wells and increase well life you can do that by lowerinf your baseline operating cost.
This offsetsz purchases of electricity from external so it effectively lowers youroperatinh costs.” Excess electricity from a well close enough to transmissioh infrastructure could be sold back to the “If you generate electricity on-site you’re negatingb the need to buy electricityy from elsewhere,” says Ming. He says the which would mark the first commercialk application ofexotherm technology, is expecter to be finalized within a month or so. “It’s a high-potentia area,” he says. “It’s one of the more appliedd areas of geothermalenergy capture.
” He notes the projecy was one of the few that met almostg all of RPSEA’s criteria. Says Ming: “Out selection committee was really enthusiastic about this particular Sneary says the test project will likely take placin Mississippi. The Gulf Coast region has a lot of wellw that match the water temperaturwand flow-rate qualifications — between 180 and 200 gallons per minute — to run the generator. Inside the heat the saltwater, which must be a minimum of 180 is run through a tube that abut another tube containingthe “working fluid,” a refrigerang that boils off at a low temperature.
“The high-pressure vapoer turns a twin screw expander,” says Sneary. “It’sx very similar to a steam turbine, but it operatezs at about one-tenth the speed, and we use workingb fluid insteadof steam.” The test project, a 50-kilowatt-per-hourr unit will be run with assistancee from in Plano, the geothermal lab at in Dallas and the U.S. Army Corpws of Engineers in Mississippi. The manufacturer, of Carsom City, Nev., has a 500 kilowatt-per-hour unit as Gulf Coast Green is the exclusive regional distributot forthe units. The average home operateds on 42 to 45 kilowattseper hour.
Sneary says the cost of electricith needs to stay above about 8 cents per kilowatt for the systemk to make financial sense and pay foritself in, at three years. But that scenario doesn’t includes any carbon credits or green tax breaks that mighty be coming out of Washington to further benefit thebusiness
Thứ Tư, 15 tháng 6, 2011
Clear Fork schools celebrate many successes - Mansfield News Journal
aryrej.wordpress.com
Clear Fork schools celebrate many successes Mansfield News Journal On June 3 our successes came to a peak by graduating 153 outstanding students. We want to wish them the very best in their future endeavors. The Class of 2011 made many contributions to the success of our academic and extracurricular programs. ... |
Thứ Hai, 13 tháng 6, 2011
Moody
houston-nearly.blogspot.com
has lowered the Golden State’s credigt rating two notches, from A2 to Baa1. The credit-ratingy giant warned the rating couls be lowered again unless lawmakera reach abudget deal, already weeks The budget delay has forced the state to issue IOUs for many of its for only the second time sincd the Great Depression. California’s currentr credit-rating is three steps above junkbond status.
“Moody’s believes that as the day and week s go by without enacted solutions to the currentg cash crisis andthe $26 billiob budget gap, the risk to priority and eventually debt-service payments, is increasing,” Moody’s said in the “The downgrade incorporates the risk we believre exists at the current as well as the state’s inabilit to resolve the current difficulties in a timely Last week, downgraded the state’s generalk obligation bonds two steps, from A- to BBB, or two ranksz above junk bond status. California has the lowest credit rating inthe nation, with the current gradwe the lowest since December 2003.
has lowered the Golden State’s credigt rating two notches, from A2 to Baa1. The credit-ratingy giant warned the rating couls be lowered again unless lawmakera reach abudget deal, already weeks The budget delay has forced the state to issue IOUs for many of its for only the second time sincd the Great Depression. California’s currentr credit-rating is three steps above junkbond status.
“Moody’s believes that as the day and week s go by without enacted solutions to the currentg cash crisis andthe $26 billiob budget gap, the risk to priority and eventually debt-service payments, is increasing,” Moody’s said in the “The downgrade incorporates the risk we believre exists at the current as well as the state’s inabilit to resolve the current difficulties in a timely Last week, downgraded the state’s generalk obligation bonds two steps, from A- to BBB, or two ranksz above junk bond status. California has the lowest credit rating inthe nation, with the current gradwe the lowest since December 2003.
Thứ Bảy, 11 tháng 6, 2011
Atlas Pipeline and Williams launch Marcellus Shale venture - Memphis Business Journal:
xagawu.wordpress.com
The two companies LLC, on April 1 . Atlas Energy Resourcexs LLC (NYSE:ATN), an affiliate of Atlas Pipelinee Partners, will be the anchor tenan on Laurel Mountain’s system. Under its agreement with Okla.-based Williams (NYSE:WMB), Atlas Pipeline Partners willreceive $90 million in a preferred right to proceeds under a $25.5 millionj obligation from Williams, and 49 percent of Laurel Mountain. The obligation amortizes in equal principal installmentw overthree years.
Atlas Pipeline Partnerss can convert its right to receivd accrued principal and interest under the obligatiomn into a sum equal to the accruefd principal and interest and use that to coverd its required capital expenditures underthe joint-venture Atlas Pipeline Partners also said its lenderse recently agreed to relaxc the covenants relating to total debt and earninga before interest, taxes, depreciation and amortization on its $380 million revolvingb credit line and $463 million term loan Additionally, , which owns the genera l partner of Atlas Pipeline Partners, said Monday it has repaid $30 millioh on its credit facilityh and will pay down the remaininbg $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings got the $30 million it used to pay down the facilitty by issuing $15 million of preferred limitedx partner units to Atlas Pipeline Partners and by borrowinf $15 million from Atlas America Inc.
, which owns Atlasa Pipeline Holdings’ general partne r and 64 percent of its common units. Atla America (NASDAQ:ATLS) also guaranteed that Atlas Pipeline Holdings will repagy theremaining $16 million on its credit The Atlas companies have offices in Philadelphi a and Moon, Pa.
The two companies LLC, on April 1 . Atlas Energy Resourcexs LLC (NYSE:ATN), an affiliate of Atlas Pipelinee Partners, will be the anchor tenan on Laurel Mountain’s system. Under its agreement with Okla.-based Williams (NYSE:WMB), Atlas Pipeline Partners willreceive $90 million in a preferred right to proceeds under a $25.5 millionj obligation from Williams, and 49 percent of Laurel Mountain. The obligation amortizes in equal principal installmentw overthree years.
Atlas Pipeline Partnerss can convert its right to receivd accrued principal and interest under the obligatiomn into a sum equal to the accruefd principal and interest and use that to coverd its required capital expenditures underthe joint-venture Atlas Pipeline Partners also said its lenderse recently agreed to relaxc the covenants relating to total debt and earninga before interest, taxes, depreciation and amortization on its $380 million revolvingb credit line and $463 million term loan Additionally, , which owns the genera l partner of Atlas Pipeline Partners, said Monday it has repaid $30 millioh on its credit facilityh and will pay down the remaininbg $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings got the $30 million it used to pay down the facilitty by issuing $15 million of preferred limitedx partner units to Atlas Pipeline Partners and by borrowinf $15 million from Atlas America Inc.
, which owns Atlasa Pipeline Holdings’ general partne r and 64 percent of its common units. Atla America (NASDAQ:ATLS) also guaranteed that Atlas Pipeline Holdings will repagy theremaining $16 million on its credit The Atlas companies have offices in Philadelphi a and Moon, Pa.
Thứ Tư, 8 tháng 6, 2011
Google releases 'safer and snazzier' Chrome 12 browser update - Digitaltrends.com
loxezop.wordpress.com
USA Today | Google releases 'safer and snazzier' Chrome 12 browser update Digitaltrends.com Following in the footsteps of its recent Chrome releases, Google has concentrated on improving security first and foremost. The Safe Browsing feature has been updated to warn users when they attempt to download a potenti » |
Start pension early, pay yourself first Vancouver Sun Ralph and Greta Wescomb have been happily married for 35 years and have never had the luxury of knowing a company pension awaits them in retirement. Ralph and Greta Wescomb have been happily ... |
Thứ Bảy, 4 tháng 6, 2011
North Carolina's $2B hog industry belted as farms fail - Washington Business Journal:
iqukikofor.wordpress.com
Two culprits – overly larg herds and rising costs due to higher grainpricezs – have been shrinking the bottom lines at many hog operationas in North Carolina, the nation’s second largest hog-producing behind only Iowa. To those factors can be adderd the recentswine flu, or H1N1 flu, the effects of which the industry is only startinf to tally up. “A lot of people have just not realizedx what’s been going on in the industry,” says Deborajh Johnson, CEO of the , an industry tradse group. Already, she says, “We are beginninf to see some (hog farmers) leave the industrhy due to financial hardship.
” At threed eastern North Carolina operations, relief from the pressure will come from Chapteer 11 or Chapter12 reorganization. Chapter 12 is a provisionn written into the federal bankruptcu code in 1986 dealing exclusively withfamilh farms. Both Chapter 11 and Chapter 12 allowe a company breathing room to attempta reorganization. In theidr reorganization filings, Bunting Swine Farm of Wilson listed assets of justunder $1 milliomn and debts of $12.e million; Perfect Pig of Newton Grover in Sampson County listed assets of $9.3 million and debtss of $23 million; and of Enfielx listed assets and debts in the $1 millionb to $10 million range.
All threew are considered mid-level producing between 100,000 and 200,000 hogs a North Carolina farmers raise abouy 10 million hogs a year for Some farmersare independent, taking theidr product directly to the market. Othedr farmers operate under contract with one of the major pork suchas Virginia-based , which in the past has had contractx with more than 1,000 North Carolina farms. Anothetr prominent producer is , which has had dealw with as many as 150 North Carolina Recent developments at publicly traded Smithfield Foodsillustrater what’s ailing the industry. The meat-producing giant, in a recentt U.S.
Securities and Exchange Commission filing, reportec losses of $112 million for the nine monthsendingf Feb.1, 2009, explaining that its costs per hundredd weight of hog had risen from $49 to $62, largelh due to higher grain prices. The company attributeas the rise in grain coststo “the United ‘corn to ethanol’ policy.” Meanwhile, as costsx were climbing, the Smithfield managers say, the marketf was glutted because a record numbersx of hogs were slaughtered in 2008 and into 2009. Demand for pork at the grocer y store has been flat in recent New retail numbers will begin to tell the effectzs of theH1N1 scare.
While a finalk determination has not been the blame for the flu outbreak is being laid to hog farmsby some. In response to market Smithfield has been closing someproduction plants, includingh one in Elon near and shaving 1,800 employees companywide. “The whole industry is feelingt pressure,” says Dr. Todd See of Looking down the grain prices have started to moderatee in recentweeks and, Johnson says, the latest Nortu Carolina herd is expected to be 3 percent smaller than last Nationwide, the movement toward smaller herds might be even more pronounced than Nortu Carolina’s 3 percent, says Christine an analyst with Cleveland Research Co.
“A lot of theses (hog producers) have been losing moneyu for 18 months,” she says. “Ane that’s a long time.”
Two culprits – overly larg herds and rising costs due to higher grainpricezs – have been shrinking the bottom lines at many hog operationas in North Carolina, the nation’s second largest hog-producing behind only Iowa. To those factors can be adderd the recentswine flu, or H1N1 flu, the effects of which the industry is only startinf to tally up. “A lot of people have just not realizedx what’s been going on in the industry,” says Deborajh Johnson, CEO of the , an industry tradse group. Already, she says, “We are beginninf to see some (hog farmers) leave the industrhy due to financial hardship.
” At threed eastern North Carolina operations, relief from the pressure will come from Chapteer 11 or Chapter12 reorganization. Chapter 12 is a provisionn written into the federal bankruptcu code in 1986 dealing exclusively withfamilh farms. Both Chapter 11 and Chapter 12 allowe a company breathing room to attempta reorganization. In theidr reorganization filings, Bunting Swine Farm of Wilson listed assets of justunder $1 milliomn and debts of $12.e million; Perfect Pig of Newton Grover in Sampson County listed assets of $9.3 million and debtss of $23 million; and of Enfielx listed assets and debts in the $1 millionb to $10 million range.
All threew are considered mid-level producing between 100,000 and 200,000 hogs a North Carolina farmers raise abouy 10 million hogs a year for Some farmersare independent, taking theidr product directly to the market. Othedr farmers operate under contract with one of the major pork suchas Virginia-based , which in the past has had contractx with more than 1,000 North Carolina farms. Anothetr prominent producer is , which has had dealw with as many as 150 North Carolina Recent developments at publicly traded Smithfield Foodsillustrater what’s ailing the industry. The meat-producing giant, in a recentt U.S.
Securities and Exchange Commission filing, reportec losses of $112 million for the nine monthsendingf Feb.1, 2009, explaining that its costs per hundredd weight of hog had risen from $49 to $62, largelh due to higher grain prices. The company attributeas the rise in grain coststo “the United ‘corn to ethanol’ policy.” Meanwhile, as costsx were climbing, the Smithfield managers say, the marketf was glutted because a record numbersx of hogs were slaughtered in 2008 and into 2009. Demand for pork at the grocer y store has been flat in recent New retail numbers will begin to tell the effectzs of theH1N1 scare.
While a finalk determination has not been the blame for the flu outbreak is being laid to hog farmsby some. In response to market Smithfield has been closing someproduction plants, includingh one in Elon near and shaving 1,800 employees companywide. “The whole industry is feelingt pressure,” says Dr. Todd See of Looking down the grain prices have started to moderatee in recentweeks and, Johnson says, the latest Nortu Carolina herd is expected to be 3 percent smaller than last Nationwide, the movement toward smaller herds might be even more pronounced than Nortu Carolina’s 3 percent, says Christine an analyst with Cleveland Research Co.
“A lot of theses (hog producers) have been losing moneyu for 18 months,” she says. “Ane that’s a long time.”
Thứ Tư, 1 tháng 6, 2011
Seattle thinking repeat as 2011 WNBA season begins - USA Today
chauezhelolocu1622.blogspot.com
Seattle thinking repeat as 2011 WNBA season begins USA Today SEATTLE â€" Along with now being a two-time WNBA champion and continued recognition as arguably the best women's player in the world, something else changed for Lauren Jackson in the offseason. ... |
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