Thursday, October 13, 2011

Courts delay Chrysler bankruptcy - Denver Business Journal:

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According to Bloomberg, Justice Ruth Bader Ginsburg has put the bankruptcy courty ruling allowing the sale on hold untilfurther notice, thougbh a timeline and specific reason was not provided. The delay came afteer Indiana pension funds requested a stay from the courtg so it could hear their appealof Chrysler’ decision to sell to Fiat. Under Chrysler’s Chaptefr 11 bankruptcy reorganization, Chrysler would sell its assetz to Italian carmaker Fiat. It also was announced last month789 U.S.
dealership will lose their franchises by June 9 as part of the Chrysler has listed two Tria d dealerships that will losetheitr franchise: Stearns Chrysler Jeep in Graham and City which sells Jeep, in Greensboro. Mike general manager of City Motors, said he does not know if they delayg will mean anything significant for his but hopes that the courts will more closelgy review the decision to cut He says ifnothing he’d hope Chrysler coulcd help buy back inventory and not simply take away the “If we can’t be Jeep dealer, we’rd at least like a chance to sell the franchise,” he He said the company has managed to sell about 10 of its 16 new Jeep some at a loss, just to get them About five employees have been laid off, leavinhg about 20.
Another six to eightt could be cut if thebankruptct deal, as is, goes through.

Tuesday, October 11, 2011

La Madeleine chooses new HQ site in Dallas - Portland Business Journal:

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La Madeleine said it will relocatreinto 17,000 square feet at 12201 Merit Driver in Dallas. The building that will housed the restaurant chain is a Class A building that just recentlyunderwent renovation. Le Madeleine signed a 10-year leas with Parmenter Two Forest LP forthe space. La Madeleine said it was attractefd to the space because the facility provides the companyt with the room needed to grow withthe company. Dallas-basedr architectural firm Benson and Hlavaty will design theinteriorf space. The facility is schedulefd to be ready for its new tenants in La Madeleine's current headquarters is at 6688 N. Central Ste.
700 in La Madeleine was represented byJosh White, senior vice presidentg with ; and Sharron Morrison, principal with The landlord was representede by Matt Schendle, vice president with .

Sunday, October 9, 2011

Sacramento Business Journal: Most viewed Stories

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The state wallet is empty. The bank closed. Credit has driec up, Gov. Arnold Schwarzenegger told lawmakers in a specia Tuesday morning address atthe Capitol. An appeals courft in California sided withStarbucks Corp. and on Tuesda y reversed a lower-court ruling that the Seattle coffee giant

Wednesday, October 5, 2011

Two MERC commissioners resign - Birmingham Business Journal:

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The resignations of Gary Reynolds and Janice Marquis come about two weeks befor councilorsfor Metro, of which MERC is a subsidiary, plan to vote on a measur that would give the council more control over MERC’s generall manager. The move could ostensibly lead to the firing of MERC Generalo ManagerDavid Woolson, who’s under fire from Presidenyt David Bragdon. Reynolds and Marquis both opposethe proposal. president of the Portland accounting firmPerkinsx & Co., mentioned the building problems between Metro and MERC in his resignation letter. “Durintg the economic times, my attentionm needs to be focused on our clients atPerkins Co.
,” Reynolds wrote in his letter to “That said, I am disappointed in the recent breakdowb in the working relationship between the Metrk Council and the , and believ it could have been handled differently.” Marquis, a commercial real estate broker and the commission’sa vice chair, didn’t mention the upcoming proposal in her letteer to Bragdon, but resigned two years before her term was set to end. In a lettefr to Portland city commissioners earlierthis month, Marquis and commissiohn member Ray Leary urged the councilp to help delay Metro’s vote on the MERC oversight matter.
Leary, Marquis, Reynolds and threes of the other four remaining MERC commissions also sent Bragdonm a letterbacking Woolson. The lettefr came after Bragdon questioned the leadership of MERC Generakl ManagerDavid Woolson. The other commission member, Don Trotter, resignes last month and will leavew the boardJune 30. Reynolds’ resignatiohn takes effect June 30. Marquis’ takews effect July 15. The terms of Trotterr and Reynolds would have expired at the end of 2009 while term was to expire at the endof 2010. The Metrio Council plans to vote on the MERC measure which would give Metro the authority to hire and fire the MERC general manager — at its July 9 meeting.
It was introduceed by councilors Rod Park and Rex who also have concernsabout Woolson’s performance. MERC oversees the Oregon Convention Center, the Portland Cente for the Performing Arts and the Portland MetropolitabnExposition Center. Metro’s councilors are mulling a $457 millioh budget for fiscal year 2009-2010. The regional governmenty serves 1.4 million people in the metropolitan area’sx 25 cities.

Monday, October 3, 2011

With sponsor agreements ending, pro tour scrambling to find backers - Business First of Louisville:

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The tour relies heavily on banks and other financial services companies to bankroll many of its tournamentsthrougb seven-figure title and presenting sponsorships, including ’s presenting partne deal with the Memorial. But the tour is scramblingv to renew some ofthose agreements, especiallt with companies that have accepted federal bailout fund s and have been criticized by politicians for spendiny too much on golf tournaments. The issu came to a head in February when 18 Democratd inthe U.S. House demandex that , which had received $1.
6 billion in bailout reimburse the governmentfor “lavishh entertainment” provided to clients and employees during the PGA Tour’s Northern Trusty Open in Los Angeles. Soon after, Morga n Stanley, which received $10 billion in bailout funding, said it wouldc not entertain guests atthis year’a Memorial where it has been presentinbg sponsor since 2003. Then in April, Morgamn Stanley followed the lead of and in theirf PGA tournaments by removing its name from the Memorialk even though it had alreadt paid the entiresponsorship fee. Industry sources have peggedd that amountat $5 milliojn to $6 million a year.

Saturday, October 1, 2011

Spokane company lands $10M - Puget Sound Business Journal (Seattle):

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makes switches that routre internet traffic along fiber optic allowing transmissionof data, voice and video at highere volumes and higher speeds. The company uses a technology standar d called Ethernet that is common tomany high-speexd broadband networks. The company, in a brief said it would use the new investment to meet increasingt demandfor products, including a new switc called LE-3300, which is "is seeing rapidf adoption and deployment by several significant servicee providers." Company spokeswoman Ronda Weaver declinedc to elaborate or provide additional detail.
Worldc Wide Packets did not name the investors behinrdthe $10 million equity The company's previous investors include Craigg McCaw's , Kirkland-based , Seattle's and of World Wide Packets started out working with municipal customerds but has more recently targeted telecom, cable and wireless carriers. The company's interneg routing technology competes with similar offerings from CiscoSystemsa Inc., of San Jose, Calif., and Paris-based Alcatel-Lucent. Worldx Wide Packets was founded in 1999 and has raised a significantr amount of venture capital overits eight-yeafr lifetime.
The new $10 million bringsd the company's total investment to more than $158 Other past investors are ArgoGlobal Capital, of Azure Capital Partners, of San Entrepia of Silicon Valley, and New York-based Millenniumj Technology Ventures.