08/24/2010 (7:57 pm)

Carson Solar Technologies moves into new digs

Filed under: marketing |

Carson Solar Technologies has moved into new facilities, the result of growth in its business.

Company officials said the former construction company has moved into a space in Tempe that is three times the size of its former offices.

The new space, at 1849 W instant payday loans. Drake Drive, in Tempe, will have an open house from 4 to 8 p.m. Aug. 25.

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08/20/2010 (1:42 am)

City leaders’ pay takes center stage

Filed under: term |

When word got out recently that a small town in California was paying its city manager nearly $800,000, the backlash was swift. Residents were furious and national news outlets jumped on the story, putting salaries for city officials under scrutiny across the country.

But, compensation experts say local city officials are not being overpaid.

In Dayton, for example, City Manager Tim Riordan is the highest-paid employee, earning about $145,000 annually. Among all city of Dayton's 1,300 full-time workers, only 20 earn more than $100,000 a year including Riordan; Stanley Early, the deputy city manager; Cheryl Garrett, finance director; Shelly Dickstein, assistant city manager-strategic development; and police chief Richard Biehl.

The national average salary for city managers salaries runs about $106,000. But, in cities with a population between 100,000 and 250,000 - Dayton has 153,000 - the average city manager makes more than $183,000, according to the International City/County Management Association. The average salary for full-time employees at the city of Dayton is about $55,000. Then average person in the Dayton area made $35,344 last year, according to federal statistics.

Click here for database of Dayton city employees that can be searched by name or salary range.

Click here for database of Springfield city employees that can be searched by name or salary range.

Michele Frisby, a spokesperson for the association, said the California case has forced city leaders across the U.S. to defend, or at least explain, their salaries.

"The ridiculous salary that was being paid to the Bell (Calif.) city manager is so unusual; most salaries are in-line with standards for the profession and are certainly not that competitive to private sector or they don't surpass private sector salaries."

When asked about Riordan's salary, Frisby said "he's certainly not getting overpaid."

Riordan - who volunteered to take a 3 percent pay cut shortly before the California issue surfaced during the first week of August - said that situation was a rare example of abuse; that pay for top city officials around the country was not out of whack.

"That is an extreme anomaly," Riordan said. "How the heck did they get that passed?"

As for Dayton city employee salaries, Riordan said "good people cost money," and the city needs good people at a difficult time that includes shrinking tax revenue. Attracting and retaining good people, he said, means paying market-rate for employees, something that applies to any organization, including the city. To bolster his point that Dayton salaries are reasonable, Riordan pointed to local companies where he said executive salaries compared to the lowest-paid workers typically run at a 20-to-1 ratio or greater. At the city, he said that ratio is about 5-to-1.

"Look around at some of the private organizations in this community and tell me that anybody else could match us," he said.

Riordan was appointed to serve as interim city manager in October last year, filling the void left by Rashad Young who took the same job in Greensboro, N.C. Since then, Riordan - who worked for the city from 1972 to 1998, including as interim city manager in 1994 - has since been named the city manager. Young started in Greensboro with a salary of $179,500.

In the city of Springfield, which has about 62,000 residents, Jim Bodenmiller makes about $112,000 annually as city manager. Among the city's 300 employees, only three earn more than $100,000 a year including the city's law director, Jerome Strozdas, and deputy law director, Andrew Burkholder.

Bodenmiller said pay city leader positions in the region is not out of line. However, the trick for Springfield and other cities is maintaining the balance of paying well for talent while being a good steward of public funds.

"Like it or not, governments are like large businesses in many respects and there's a lot of responsibility in those positions," he said.

As union contracts expired in Springfield - both in this year and last year - workers have taken zero pay increases for one- or two-year periods and nonunion workers got no bump in pay this year or last year. Bodenmiller said the city also scaled back or modified benefits, whenever possible, to save money.

"We realize we're no different than any other business, we're struggling to make ends meet," he said.

Dayton city salaries, in general, Riordan said, have been flat for several years as employees have taken a combination of cuts, zero increases and days without pay. And during the past decade, the city has cut about 600 jobs.

"Everybody has done something," he said. "You've got to be real sensitive to (the issue of city salaries) … because this community has been hit hard."

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08/12/2010 (4:08 pm)

July jobs report: Economy still losing jobs

Filed under: economics |

For the second month in a row, the U.S. economy shed jobs as the government continued to unload census workers, offsetting disappointing gains in private business hiring.

The Labor Department on Friday reported a net loss of 131,000 jobs in July, an improvement from the revised loss of 221,000 jobs in June.

The loss was due mostly to the end of 143,000 temporary census jobs in the month, but hiring by businesses was also weak, as those employers added only 71,000 jobs in July.

"The job market has lost steam and remains lethargic," said Sung Won Sohn, economics professor at Cal State University Channel Islands.

Businesses have now added jobs in every month so far this year, a total of 630,000 positions. But that works out to an anemic 90,000 a month. There needs to be an overall gain of about 150,000 jobs per month just to keep pace with population growth.

And private sector job growth seems to be losing ground. The modest gain of 71,000 jobs in business hiring was up from even weaker revised readings for May and June, but was still well below the nearly 200,000 monthly gains in March and April, when the labor market appeared set to turn the corner.

"The private sector is just not strong enough," said Tig Gilliam, CEO of Adecco Group North America, a unit of the world’s largest employment staffing firm. "Companies are still cautious on the hiring front. They’re taking a long time to make decisions. All of that suggests continued uncertainty and slow improvement."

The overall number was worse than the loss of 87,000 jobs that economists surveyed by Briefing.com had predicted.

More pain ahead

The job losses from census jobs ending are likely to abate in the coming months. There are only 196,000 temporary census workers still on the job and they’ll be phased out mostly over the next two months.

But the outlook for private sector hiring remains weak. A restocking in inventories that helped lift hiring earlier this year has mostly come to an end and retailers are likely to keep shelves and staff lean going into an uncertain holiday shopping period.

Temporary workers, often taken as a leading indicator of future hiring by businesses who use them ahead of expanding their permanent staff, has been trending down for the last nine months and fell to a loss of 5,600 jobs this month, the first decline in that reading since September payday loans.

Public sector job losses weren’t limited to temporary jobs, as government jobs outside of census fell by 59,000 in the month, most being cut from state and local governments facing budget problems.

The Obama administration said the loss of state and local government jobs, and the weak private sector hiring, show that more needs to be done.

"We have made substantial progress from the days when employment was declining by 750,000 a month," said a statement from Council of Economic Advisers Chair Christina Romer. "But, today’s employment report emphasizes just how important the additional jobs measures before Congress are."

But Republicans claim the weak employment report showed that the economic policies of the Obama administration have failed.

"For all of the effort being expended to convince Americans that their policies have ‘funded’ or ‘created and saved’ new jobs, the sobering reality is 18 months after the stimulus was signed into law, our economy is still hemorrhaging jobs," said Rep. Darrell Issa, R-Calif.

Unemployment persists

The unemployment rate remained unchanged at 9.5% in June. Economists had expected the jobless rate to edge up to 9.6%. But that was mostly because of 381,000 workers who stopped looking for work in recent weeks, and were therefore no longer counted as part of the labor force.

That jump in discouraged workers may have been partly due to the loss of extended unemployment benefits for many jobless during the month. Without the incentive of having to look for work to collect benefits, many workers simply gave up looking.

The percentage of the population with jobs fell for the third straight month to 58.4% and is now approaching the 26-year low in that reading reached in December.

There was some good news buried in the report, at least for those with jobs. The average hourly work week increased 0.1 hours to 33.5, suggesting that workers who had their hours reduced were being called back to work full time. The number of part-time workers who would prefer to work full time fell by 98,000 to 8.5 million. 

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08/04/2010 (8:33 am)

Disney sells Miramax for $660 million

Filed under: term |

The Walt Disney Company said Friday it has agreed to sell Miramax Films for around $660 million to an investor group.

The indie film label is being bought by Filmyard Holdings, which is backed by construction mogul Ron Tutor and Colony Capital, the private equity firm headed by Tom Barrack.

The deal includes the rights to Miramax’s library of more than 700 film titles, as well as some books, projects and the the Miramax brand.

Started by brothers Harvey and Bob Weinstein, the art house label’s movies include Oscar winners "Shakespeare in Love," "Chicago" and "No Country for Old Men."

"Although we are very proud of Miramax’s many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands," Disney (DIS, Fortune 500) CEO Robert Iger said in a prepared statement.

The sale of Miramax is expected to be completed by the end of the year, Disney said. 

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07/29/2010 (9:55 am)

Insituform Q2 profit more than doubles

Filed under: news |

Insituform Technologies Inc. said its second-quarter profit more than doubled to $15.78 million compared to $6.55 million in last year’s quarter, thanks in part to the impact of recent acquisitions.

For the quarter ended June 30, the company reported that its revenue rose 26 percent to $230.19 million compared to nearly $183.2 million in last year’s quarter. The increase primarily was driven by 38.8 percent growth in its Energy and Mining segment, the company said.

Joe Burgess, president and CEO, said in a statement that the acquisitions of the Bayou Cos. and Corrpro Cos. were more than 20 percent accretion to Insituform’s earnings per share this quarter, and slightly accretive for the last 12 months. Insituform bought the Bayou Cos. for $125 million in February 2009 and Corrpro Cos. Inc. for $92 million in March 2009 Faxless payday loans.

“Each of our business segments are poised to make even more progress in the second half of 2010, with market conditions continuing to improve on a global basis, coupled with our strong backlog position and order prospects,” Burgess said.

Insituform’s total contract backlog was $475.2 million as of June 30, representing a 2.5 percent increase from Dec. 31, 2009, and a 2.8 percent increase from June 30, 2009.

The Chesterfield, Mo.-based company (Nasdaq: INSU), led by President and Chief Executive Joe Burgess, rehabilitates sewer and water pipes. The company landed $86 million worth of stimulus work last year and expects to tap into another $86 million of stimulus work this year.

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07/16/2010 (7:15 am)

HP’s Snapfish acquires Motionbox technology

Filed under: marketing |

Hewlett-Packard Co. said on Monday that its Snapfish online photo unit has acquired the video technology platform of startup Motionbox Inc.

Palo Alto-based HP (NYSE:HPQ) didn't disclose the financial terms of the deal.

New York-based video site Motionbox has more than 2.8 million members. HP said Motionbox members can continue to post, share and edit videos on the current website until Aug same day payday loans. 10.

San Francisco-based Snapfish, which has more than 85 million registered users, was acquired by HP in 2005.

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06/23/2010 (1:14 am)

Swarovski lands at Hartsfield-Jackson

Filed under: online |

Swarovski will open in July a licensed boutique store at Hartsfield-Jackson Atlanta International Airport through a partnership with Areas USA.

The 567-square-foot space will sell Swarovski’s line of fashion jewelry, watches, home accessories and décor objects.

Swarovski already has eight licensed boutiques in the United States with locations at Foxwoods Resort Casino, John F. Kennedy Airport, Dover Downs Hotel & Casino, the Palazzo Resort Hotel & Casino, the Venetian Las Vegas Resort Hotel Casino and the Eldorado Hotel Casino among others. It is aiming to have between 20 to 25 licensed boutiques opened by the end of 2010.

Swarovski also runs more than 230 retail stores throughout the country.

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06/22/2010 (2:29 pm)

Water district wins $1.5M grant for St. Clair County improvements

Filed under: news |

The Coosa Valley Water Supply District received a $1.5 million grant to connect several St. Clair County water systems.

The U.S. Economic Development Administration gave the grant to the district to connect Pell City, Odenville and Springville to a regional water system, said a news release.

The project will create 83 jobs and $5.7 million in private investment and build a water intake structure at the Coosa River and other improvements to support additional development and business expansion in the region.

“The Obama Administration is committed to helping communities stay competitive,” U.S. Commerce Secretary Gary Locke said in a statement. “This EDA grant will help make the vital infrastructure improvements these towns need to establish a regional water system that will support the business community and attract new jobs to the region.”

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06/07/2010 (2:29 pm)

St. Louis, KC epilepsy foundations to merge

Filed under: finance |

The Epilepsy Foundation of the St. Louis Region is merging with the Epilepsy Foundation of Kansas and Western Missouri, which is based in Kansas City, Mo.

Both are affiliates of the national Epilepsy Foundation, which approved the merger.

The newly merged entity, named the Epilepsy Foundation of Missouri and Kansas, will have an administrative office in St. Louis and an office in Kansas City, with intention to expand into Kansas within the next two years, according to Darla Templeton.

Templeton, who was president and CEO of the St. Louis chapter, will take those roles in the new merged group.

Because of the economy, donations and funding are down, she said. “We thought if we merged, we could streamline and be more efficient and effective with just one executive director or CEO for both,” Templeton said.

She said the board of the Kansas City-based group had gone through a series of executive directors, and “from their perspective, without a very positive results.”

The Kansas City group has been without an executive director since April 2009.

In April, the Epilepsy Foundation of Kansas and Western Missouri sued its former executive director, Sean Taylor, claiming he diverted about $80,000 of foundation funds for his own use, according to the suit. Seema Chawla, an associate with Bryan Cave in Kansas City representing the foundation, confirmed Friday that the suit is pending.

David Gitt, formerly on the board of the St. Louis chapter, will chair the new, merged board, which will number 16.

The operating budget for the combined chapters is about $700,000, Templeton said.

The St. Louis affiliate is accredited by Commission for Accreditation of Rehabilitation Facilities and holds the seal of the Better Business Bureau, the group said. Both organizations are members of United Way.

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05/20/2010 (6:59 am)

Students loans can be consolidated

Filed under: marketing |

Student loans offer an invaluable avenue to help cover the cost of higher education. But they can also impose a financial burden on graduates.

One method for recent graduates to deal with student loans is through loan consolidation. Several college and university financial aid offices offer information about student loan consolidation. But you might find quicker answers regarding loan consolidation on the Web.

Here are a few websites that provide useful general and specific information on the subject:

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