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Travel Insurance For Peace Of Mind During Your Travels Vacationing at least once in a year has become an integral part of many people's lifestyle and as such the travel has gained in importance like never before. Just try to imagine the gravity of an emergency situation where you have to deal with an emergency medical situation due to an illness or an accident or injury. Any of these situations can throw you into a panic if you are not adequately prepared. And this preparedness comes from having
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Feds suspend Skyridge Pharmacy's drug certificateSkyridge Pharmacy’s certificate to dispense drugs was suspended Monday, after the owner was accused of distributing drugs to customers without valid prescriptions, according to the U.S. Drug Enforcement Administration. Circle Bancorp names Kit Cole chairman and CEOCircle Bancorp. which operates Circle Bank, said Monday that Kit Cole was appointed chairman and CEO, effective immediately. (TAMB) Kansas couple wins verdict against Swift TransportationA Kansas couple was on the winning side of a $23.5 million verdict awarded by a federal jury in Wichita in a trucking accident dispute. Worthington Industries taps new CFOWorthington Industries Inc. has named an executive from private equity investor MCG Capital Corp. as its finance chief, filling a job that sat vacant for four months. (MCGC) (GS) (WOR) Report: Bond investors sue CountrywideA group of bond investors is demanding that Countrywide Financial Corp. purchase mortgage loans for which it plans to reduce borrowers’ payment terms. (BAC) Dow plunges 680 points on MondayThe stock markets plummeted Monday on a slew of bad economic news, not the least of which was the official word that the U.S. has been in a recession since December 2007. Ashland CEO took pay cut for ???08Ashland CEO Jim O’Brien’s pay fell by a fourth to $4.8 million for the year ended Sept. 30, his cash and long-term incentive compensation declining together, the company reported to regulators. (ASH) Report: Bond investors sue CountrywideA group of bond investors is demanding that Countrywide Financial Corp. purchase mortgage loans for which it plans to reduce borrowers’ payment terms. (BAC) Dow plunges 680 points on MondayThe stock markets plummeted Monday on a slew of bad economic news, not the least of which was the official word that the U.S. has been in a recession since December 2007. (STI) (SBKC) (LION) (UCBI) (SNV) (HD) (UPS) (KO) (DAL) (SO) Fitch reaffirms AA+ rating for CPS Energy bondsFitch Ratings has confirmed its AA+ rating for San Antonio’s electric and gas systems revenue bonds, Series 2008A, issued on behalf of CPS Energy. Celtics and Bentley renew dealThe Boston Celtics and Bentley University have extended their relationship for another two years, the team said Monday. Report: Bond investors sue CountrywideA group of bond investors is demanding that Countrywide Financial Corp. purchase mortgage loans for which it plans to reduce borrowers’ payment terms. (BAC) JPMorgan Chase to lay off 9,200 WaMu workersJPMorgan Chase said Monday it will lay off 9,200 Washington Mutual employees nationally, out of the company’s total work force of about 42,000. Ashland CEO took pay cut for ???08Ashland Inc. CEO Jim O’Brien took a 25 percent pay cut, down to $4.8 million in fiscal 2008, as both cash compensation and long-term incentive compensation declined from 2007. (ASH) Citigroup spends less on ads, Scottrade spends moreThe financial services industry, including Citigroup, spent 10 percent less on advertising this year, but online brokerage Scottrade bucked the trend and spent more, a new analysis shows. Houston architect???s Shanghai building starts constructionConstruction began Nov. 29 on what will be China’s tallest building — a structure designed by Houston-based architect Marshall Strabala. Inn of the Anasazi names new directorAndrea Gates has been named the new managing director of the Inn of the Anasazi in Santa Fe. Services set for Lofgren familyA memorial service for Parker Lofgren and his family will be held Dec. 5 at Good Shepherd Catholic Church in Denver, according to information posted Monday on the St. Charles Capital website. Hawaiian Telcom losses top $425MHawaiian Telcom’s filing for bankruptcy protection follows years of losses totaling more than $425 million. That includes losses of $105 million so far this year. Association of the blind names Burke executive director, CEOThe Northeastern Association of the Blind at Albany has named Christopher T. Burke executive director and CEO of the nonprofit organization. Health Care Foundation of Greater Kansas City awards $7M in grantsThe Health Care Foundation of Greater Kansas City today announced nearly $7 million in “safety net health grants” to 51 area organizations. N.J. bill would ostracize outsourcersThree New Jersey assemblymen announced the introduction of legislation Monday that would prohibit the state from doing business with companies that move work from the United States to other countries. Company with 1,300 local employees files for Chapter 11Pilgrim’s Pride Corp., the chicken processor with a 1,300-worker facility in Sanford, said Monday that it has filed for Chapter 11 bankruptcy. (PPC) Fla. AG settles with Jacksonville moverFlorida’s Attorney General has settled a case against Father & Son Moving and Storage of Jacksonville Inc. Pilgrim's Pride files for Chapter 11Pilgrim’s Pride Corp., the chicken processor with a 1,300-worker facility in Sanford, said Monday that it has filed for Chapter 11 bankruptcy. (PPC) Crist urges 45-day freeze on foreclosuresLeaders from the Florida Bankers Association and Florida Credit Union League joined Gov. Charlie Crist on Monday in asking their members to provide temporary relief from foreclosure to Floridians who face the prospect of losing their homes. Capital Financial Group bought by SecurianSecurian Financial Group closed on its previously announced purchase of Capital Financial Group Inc. and its broker-dealer H. Beck Inc. Report: Roche still seeking loan for Genentech bidA $45 billion syndicated loan for Roche’s buyout of South San Francisco’s Genentech Inc. is becoming tougher to get, and the Swiss drugmaker is seeking alternatives, Reuters reported. (DNA) Crist urges 45-day freeze on foreclosuresLeaders from the Florida Bankers Association and Florida Credit Union League joined Gov. Charlie Crist on Monday in asking their members to provide temporary relief from foreclosure to Floridians who face the prospect of losing their homes. Survey: Weekend sales brisk, Cyber Monday to follow suitThe retail industry’s trade group is still projecting a meager rise in holiday shopping this year, but the season appeared to have started lively with holiday weekend store sales that exceeded projections. (EBAY) Hawaiian Telcom files for bankruptcy protectionHawaiian Telcom Communications filed for Chapter 11 bankruptcy protection Monday morning. TWC announces unemployment benefit extentionUnemployment Insurance benefits have been extended for seven weeks, the Texas Workforce Commission has announced. President Bush recently signed legislation providing up to seven weeks of emergency unemployment benefits to workers who have exhausted their benefits and are still unemployed. The extended benefits are federally funded and employers will not be charged for any claims paid on this extension, the TWC says. Fannie Mae plans to stay on NYSEFannie Mae told the New York Stock Exchange that it intends to meet the continued listing standard. (FNM) Colombia Air Force getting ETC equipmentEnvironmental Tectonics Corp. said Monday it has received a $1.8 million contract from the Army to provide a hyperbaric chamber to the Colombia Air Force as part of the Foreign Military Sales Program. The Colombia Air Force will use the chamber, which simulates conditions at high altitudes, for training. Kforce boost stock buybackThe board of directors of Kforce Inc. agreed to allow the company to repurchase additional shares of common stock. (KFRC) Achievement Awards - Clint BallingerClint Ballinger has a standard dress code when he’s looking for money. If the pinstripe suit doesn’t give it away, check out the feet. Markets react to more bad economic newsStocks were down in Asia and in Europe Monday morning. Markets plummet Monday on bad economic newsThe stock markets plummeted Monday on a slew of bad economic news, not the least of which was the official word that the U.S. has been in a recession since December 2007. (AA) (AYE) (ATI) (AEO) (CNX) (DKS) (FII) (HNZ) (KOP) (NCC) (NCX) (PNC) (PPG) (X) (WCC) TSYS venture signs 5th-largest China lenderTSYS’ China UnionPay Data Services Co. joint venture has inked a multi-year credit card processing agreement with China Postal Savings Bank. (TSS) Markets react to more bad economic newsStocks were down in Asia and in Europe Monday morning. Fighting the foreclosure crisisRon Kalbfleisch is staring foreclosure in the face and he doesn’t know who will blink first. A die maker for the past 23 years, Kalbfleisch is four months behind on payments at his Dayton-area home. He had been working 50 hours a week at his full-time job and an additional 10 hours to 15 hours per week at a part-time job. Lenders look to avoid foreclosuresEven though homeowners have not received a government bailout, the financial crisis is helping some people deal with mortgages. Despite slump, banks have dollars to lendBankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. Comprehensive coverage, client care help Metzler Bros. Insurance growAs the economy endures a full-on recession, businesses cut back production and unemployment claims rise to their highest levels in decades, Kansas City-based Metzler Bros. Insurance is growing and adding staff. Bogle???s sage advice provides a port in the stormAttempting to survive unquestionably the most turbulent stock market I have ever experienced, I turned to one rudder I have relied on for a lot of years. Small biz slogs through the turmoil; agency reports demand for SBA loansAlan Hoambrecker has never been in the news before. But in times when the latest corporate layoff announcement often is the business news of the day, Hoambrecker stands out for the 30 jobs his small business is preparing to create. Ripe or rotten for a deal? Market, performance complicate Sprint???s valueOn the surface, Sprint Nextel Corp. looks like a great deal. For high-tech entrepreneurs, time is right to launch firmContinuously renewing our regional economy requires the constant development of new companies in high-growth sectors. After all, entrepreneurs are the primary source of innovation and job creation, and they (and the venture capital that propels them) gravitate to regions where success is more likely. Values abound, but the market makes investors focus on strengthIf you’re looking for a bargain in the stock market – and who isn’t – there are plenty out there. What financial crisis? Banks grow more branchesAs Citigroup Inc. and other banking behemoths convulse amid the nation’s financial crisis, a half-dozen smaller banks have opened or announced a flurry of new branches in the Washington area in recent weeks, including a large North Carolina bank doubling its local presence. Small stretch of 8th Street SE seeks its own identityThe northern side of Eighth Street SE is home to Barracks Row, featuring revitalized restaurants, shops and taverns. On the southern edge, a new neighborhood, The Yards, is planned. Montgomery County debuts work force housing at King FarmMontgomery County is ready to sell its first work force housing condominiums, just as the slow residential market begins to yield more affordable housing naturally. The fans have spokenCincinnati sports fans think of the Reds as “professional” and “family-oriented.” Despite slump, banks have money to lendBankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. Tax filing offers glimpse into $35B Gates FoundationDue to a disclosure requirement, the Bill & Melinda Gates Foundation has provided a revealing — though somewhat dated — glimpse of its financial activities. Pioneer Square wins ShareBuilder???s 18-month space searchAfter 18 months of looking for new headquarters space — and twice being shouldered aside as Microsoft wolfed down entire buildings — Dan Greenshields has finally found a new home for ShareBuilder Securities Corp. in Seattle’s Pioneer Square. Questions for John Meisenbach, president, MCMThe nation is on a roller-coaster ride because of turmoil in the financial sector and, now, a global economic crisis. We spoke with John Meisenbach, president of MCM, a financial services and insurance company in Seattle that he founded more than 40 years ago. Community investmentYour Nov. 14 issue featured an article on banking regulators’ evaluation of Seattle Savings Bank’s performance under the federal Community Reinvestment Act (CRA). Your coverage (“Seattle Savings Bank dinged for low community support”) draws attention to financial institutions’ responsibilities to serve low- and moderate-income communities, but in the case of Seattle Savings Bank, did not fully report on our institution’s lending record. A catalyst for cleanup, Puget Sound Partnership needs fundingIf there were an eye-opener in the Puget Sound Partnership’s recently released draft recommendations, it is that industry alone is not the biggest threat to the Sound. To save Puget Sound, the everyday activities of people — how we live, work and travel on the land — will have to change. The money factorFor nine years, traditional bank lines of credit had kept a river of cash flowing through Tabitha Tyson’s government contracting company. But this past February, the CEO of Empowerment Technology Inc., a Washington, D.C.-based information technology consulting business, found herself at a financial crossroads. Move office meetings out the doorHere’s an idea: get out of the office. East Baltimore biotech, housing development behind scheduleThe nationwide credit crisis has ensnared plans to revitalize East Baltimore with new homes and a massive biotechnology park, setting the $1.8 billion project months behind schedule and in search of cash to move forward. Hot moneyFor banks in a weak economy, deposits are golden — a solid funding base they can draw on to lend out money. State might guarantee loans made to minority businessesThe state may step in to take some risk out of a minority business loan program to encourage lending amid the national economic crisis. Survey: Cash flow big issue for small firmsAbout 44 percent of small-business owners this month reported they had experienced cash flow issues over the past 90 days, up from 38 percent in October. Morgan Stanley fined $35K for weak oversight of brokerThe Maryland securities commissioner has found that brokerage Morgan Stanley & Co. did not properly supervise a former broker, George Divel III. Money hungryOnce upon a time, cash was king. In a credit-crunched world, cash is the entire royal family. (UA) (CEG) (GRA) (BDK) (FCN) (FCL) (OHI) (GPX) Sour mortgage-related investment spoils Slavie earningsThe parent company of Slavie Federal Savings Bank posted a $1.6 million third-quarter loss as one of its investments lost value in the battered mortgage market. MedImmune to double size of Montgomery Co. HQThe region’s largest biotech is hitting another growth spurt. Fed, Treasury inject $200B into sluggish SBA programsThe Federal Reserve Board announced plans for a $200 billion lending facility aimed at unfreezing secondary markets for Small Business Administration loans and consumer loans. AlphaMark takes on market with new mutual fundsThe stock market could be headed for its worst year ever. Investors are fleeing. So why would a local money manager decide now to launch his firm’s first mutual funds? Treasury should help distressed homeownersRecently, Congress learned about the progress of the Treasury Department’s implementation of the Emergency Economic Stability Act of 2008 and the usage of the authorized funds. Bankers: Still ???actively looking??? for good loansBankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. Customers losing appetite for big holiday celebrationCatered holiday parties are going on a diet. Joint plan for power plantsPart of Duke Energy Corp.’s legislative agenda is likely to lay the groundwork for regional planning for big projects such as its proposed $11 billion Lee Nuclear Station near Gaffney, S.C. Moore & Van Allen cuts hit summer associate programMoore & Van Allen is freezing its summer associate program in 2009 as part of a larger cost-cutting effort. Online extra: Pittsburgh 100 fastest-growing companies for 2009- complete responsesThe Business Times asked the top officers at Pittsburgh’s 100 fastest-growing companies for their outlook of the first half of 2009. Below are the complete responses we received from more than 60 companies, in alphabetical order. For excerpts of a sampling of the responses, see the Nov. 28 - Dec. 4, 2008 issue of the Pittsburgh Business Times. Citizens South growing into bigger Meck shareCitizens South Banking Corp. has been quietly moving up in the pecking order of Charlotte’s financial institutions as competitors are gobbled up by larger banks. Breakup leads to 2 new firmsGrowthFinance has split into two new Charlotte professional-services firms. Idle Realtors turn to training, new niches, prayerRealtors’ paychecks and those of their assistants are casualties of the weak housing market. Federal Reserve???s Kane ready for spring departureThe Federal Reserve’s local point man is stepping down from his post early next year. <strong>Jeff Kane</strong>, senior vice president in charge of the Charlotte branch of the Federal Reserve Bank of Richmond, said at an event last week that he plans to retire in March. He intends to remain in Charlotte. Home equity lending tightens as property values shrinkIt’s gotten more expensive — or in some cases impossible — for homeowners to tap the equity in their homes to consolidate debt, take a dream vacation, remodel the house or buy a vehicle. M&I, Associated plan to lend federal funds to businessesExecutives with the two Wisconsin banks that accepted funds as part of the federal bank capital purchase program say they’ll do their best to follow the original directive to use the money for business loans. It???s flawed and fickle, but don???t give up on your 401(k)Lately (and finally), it seems people want to talk about their 401(k), that savings vehicle some 60 million of us have and most of the time forget about even as we feed them periodic deferrals and, if we’re lucky, profit-sharing contributions or matches from our employer. Give thanks there are successes to celebrateWe readily acknowledge that these are not the best of times — around the world, on the Mainland or even here in Hawaii. In the last month, a series of local economic forecasts have each represented a more pessimistic outlook than the preceding report. Capital levels too low at some credit unionsWhile many Twin Cities credit unions are in strong financial shape, some of them are struggling to cope with rising levels of bad debt. Silverman retakes control at VeriChip, tries to revive companyAfter a few months away, Scott Silverman has returned to his role as CEO of VeriChip (NASDAQ: CHIP), the Delray Beach-based implantable chipmaker, just as the company was near to being dissolved or delisted. (CHIP) (DIGAD) Plan fails, Georgetown site headed to foreclosure auctionTAMPA — More than 160 waterfront acres, once one of Tampa Bay’s hottest untapped development sites, is now the latest casualty in the housing crash. (BAC) Detroit 3???s fall would be a Big One in OhioThe failure of one or more of the Detroit Three automakers won’t send ripples into Ohio – it would send waves. Loan search prompts cost cuts at Westwood StationDeveloper Jay Doherty said he is downgrading aspects of the first phase of his mammoth Westwood Station project to make it more attractive to prospective lenders. Cheryl Smith: Investment missionCheryl Smith’s call to capitalism came from the U.S. Conference of Catholic Bishops, which in the late 1980s urged Catholics to use capital markets to spur social progress. She ultimately found herself knocking on the door of the late Joan Bavaria, a pioneer in socially responsible investing who founded Trillium Asset Management. Nonprofi ts prep for new IRS fi lingMany nonprofit organizations say they welcome stringent new Internal Revenue Service reporting requirements that go into effect this year, despite expectations that they will be more time consuming and costly to complete. Former Marcus & Millichap broker starts Jacksonville company<em>After several years with commercial real estate investment firm Marcus & Millichap, Brett Chetek is branching out on his own with Flagship Real Estate Services, a full-service commercial brokerage. He spoke recently with Jacksonville Business Journal staff writer Christian Conte, and here are edited excerpts from the interview:</em> Consumer loans are hurting Jacksonville credit unionsNORTHEAST FLORIDA — Delinquent consumer loans — credit cards and auto loans — are the largest problem facing most credit unions in Jacksonville. Hurricanes' brand rises in studyRALEIGH – While the team has been lukewarm on the ice since the 2005 Stanley Cup season, the Carolina Hurricanes’ brand is emerging as a winner. Despite slumping economy, banks have money to lendBankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. Small banks swoop in with unorthodox ads3rd Federal Bank of Newtown will post some new signs at its 14 branches in Northeast Philadelphia and Bucks and Mercer counties. Everyone shares blame for our economic downturnThe blame game for the bad economy and credit meltdown has been endless, particularly during the recent political season (thank goodness it’s over). Is it the “failure of free market capitalism” as the left suggests, or “social engineering gone bad” as some on the right offer? Cash flow: How to get it, spend it, keep it on handIn September, we wrote about how to improve operating cash flow at your company. The recent financial market meltdown has meant a lot less cash available for banks to loan and businesses to borrow, and has brought home the importance of having cash available to businesses across the nation. Trianlge investment funds feeling pain of cash flightRALEIGH – Triangle money managers are feeling the pinch from Wall Street. Hurricanes' Staal, wife pay $1.85M for houseCarolina Hurricanes star Eric Staal is getting a new garage where he can park his black Maserati. Showing them the moneyRetired Marine Maj. David Moorefield and business owner Kathy Shoff wanted to start a job placement company late last year, but even with the vision and experience they were missing two main ingredients to put their idea into action — a business plan and financing. Farmers hang inThough 2008 was a prosperous year for most farmers and ranchers, economic jitters have Oregon’s $4.9 billion agricultural community worried about tapping credit lines in 2009. Cash-strapped banks struggle to surviveThree Oregon banks are running low on cash and have enough delinquent loans that federal regulators could consider taking them over. Leonard wants to simplify the permit processWhen ground broke last spring on an affordable St. John’s housing project, its primary architect couldn’t wait to finish the 32-unit project. Developer disputes default allegations, files suit claiming fraudSacramento developer Sotiris Kolokotronis is fighting allegations he defaulted on a $13.9 million loan balance, claiming a bank conspired to defraud him and even posted his personal tax returns on the Internet. Feds hope to unfreeze SBA, consumer lending programsThe Federal Reserve Board announced plans on Nov. 25 for a $200 billion lending facility aimed at unfreezing secondary markets for Small Business Administration loans and consumer loans. Citizens??? bad loans surging in 2008Delinquent loans at Citizens Financial Group Inc. have accelerated over the past year, eating into profits as its parent company, Royal Bank of Scotland Group PLC, prepares to receive a massive government bailout overseas. Developer caught in banks??? line of credit squeezeRoy S. MacDowell Jr., a wealthy real estate developer linked to major projects throughout the country, is getting a firsthand look at how ugly the credit crunch has become. (EQR) Setting new course in stormy marketLandCastle Title <strong>Top Local Executive: </strong>Jennifer Marler Frank, president of business management Feds hope to unfreeze SBA, consumer lendingThe Federal Reserve Board announced plans Nov. 25 for a $200 billion lending facility aimed at unfreezing secondary markets for Small Business Administration loans and consumer loans. Translation tech company seeks $1.4MGeaCom Inc., a firm that’s developed technology to help physicians communicate with patients who speak a different language, is aiming to raise $1.4 million to fund clinical trials. Downturn slams brakes on new retail centersIt certainly looked like a good idea at the time. Workers??? comp insurers ask for higher-than-suggested rate hikeA large number of California workers’ compensation insurers have filed for higher Jan. 1 premium rate increases than state insurance regulators recommend. Gaining MomentumUnlike recent high-profile banking deals done with the aid of U.S. Treasury funds from the Troubled Asset Relief Program, American Momentum Bank of Tampa, Fla., is using its own capital to buy its way into Texas. What impact will the current turbulence have on community banks?This week’s question: What impact will the current turbulence in the national banking industry have on community banks – specifically those in the Birmingham area? Community banks' time to shineWall Street versus Main Street is a phrase that has been bandied about often as the federal government tries to find a solution to the national economic downturn. RDU fixed-base operator Southern Jet sued over saleMORRISVILLE – Frustrated in their efforts to cash out their holdings in a firm that has ceased doing business, minority shareholders in Southern Jet Inc. have filed a lawsuit against the company’s majority owner – a case that’s now reached the North Carolina Business Court. Alon plans $100 million IPOGasoline refiner and seller Alon USA Energy Inc. plans to spin off its convenience store operations with an initial public stock offering. (LOPE) (PXD) A new approach to regulationThe chilling effects of the global financial crisis exposed how flaws in the current regulatory system leave investors out in the cold. Legislators weighing options for foreclosure reliefForeclosures continue to outpace efforts to modify mortgages, prompting calls for the federal government to provide more robust relief to struggling homeowners. Loan volume, value of mortgages in Birmingham up so far in 2008Despite the credit crunch, falling home sales and a slumping economy, 2008 hasn’t been a terrible year for Birmingham’s largest residential mortgage lenders – at least not in terms of total loans. Real estate job losses spreadingMany commercial real estate brokerages, architectural firms and construction companies are laying off workers and changing strategic focus as the North Texas commercial real estate market suddenly starts to slow. 'Main Street' banks prepared to weather the current stormHeadlines on the current financial crisis remind me more and more of the movie “A Perfect Storm” and how the captain of the Andrea Gail felt when he found himself trapped with no way out. Talent, technology serve startups well in hunt for VCFor Follica Inc. the funding climate this year has been hair-raising. Literally (TWX) Constellation Energy shareholders to vote Dec. 23 on sale of companyConstellation Energy Group Inc. shareholders will have a chance to vote on the company’s $4.7 billion sale to MidAmerican Energy Holdings Co. on Dec. 23. (CEG) (BRK) Feds hope to unfreeze SBA lendingThe Federal Reserve Board announced plans for a $200 billion lending facility aimed at unfreezing secondary markets for Small Business Administration loans and consumer loans. Despite slump, banks have money to lend to businessesBankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. BofA???s Lewis: Recession will last until housing gets wellBank of America CEO Ken Lewis trekked to the nation’s epicenter of economic woes, Detroit, to discuss his outlook. WNY banks confront capital decisionThe landscape of the Western New York banking industry is split three ways. Local law firms holding their own so far, but worryingLocal law firms have not endured massive layoffs like their counterparts in other cities, but the crippled economy has them limping to the 2008 finish line hoping to hit budget and fretting even more about what lies ahead next year. Sallie Mae credit office will mean more than 1,000 jobsDelaware will add 1,100 jobs to its work force, thanks to Sallie Mae’s plan to open a credit operations center in Newark. Feds hope to unfreeze small business and consumer lendingThe Federal Reserve Board announced plans Nov. 25 for a $200 billion lending facility aimed at unfreezing secondary markets for Small Business Administration loans and consumer loans. Raak selling German smart card interfaceSoftware/Software Security Raak Technologies, which develops authentication products for smart cards, has partnered with Germany-based Charismathics. UTMB employees already on the job hunt following layoffsSome of the nearly 3,000 employees to be laid off in November by The University of Texas Medical Branch at Galveston in the aftermath of Hurricane Ike are already working to find jobs at other Houston-area hospitals. Real estate vets examine tough timesIt has been a difficult year for Atlanta commercial real estate. New $200 billion bailout targets small businessesThe Federal Reserve Board announced plans Nov. 25 for a $200 billion lending facility aimed at unfreezing secondary markets for Small Business Administration loans and consumer loans. Bankers tell Congress they have enough cash to lendBankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. $10M-plus crowd sees opportunity“The rich have more choices,” says Ed Tiryakian, CEO of financial consulting and wealth planning services provider Argentum Group, and in these choppy economic times, more choices means a better night’s sleep. Feds hope to unfreeze SBA, consumer lendingThe Federal Reserve Board announced plans this week for a $200 billion lending facility aimed at unfreezing secondary markets for U.S. Small Business Administration loans and consumer loans. Grey Poupon, anyone?Lamborghini St. Louis and Bentley St. Louis, both owned by J.J. Mills and Graham Hill, hired Communications Technology Inc. to install $50,000 in phone and network services connecting the two dealerships, which are side by side in Chesterfield. President Bob Hymes (pictured) said CTI will post $5 million in revenue this year. Hill and Mills purchased 2.5 acres for $1.75 million in 2006 from Tom and Ed Levinson for the Lamborghini dealership, the 100th worldwide. Baysider: ???Dubai??? is closer than you thinkThere’s a new sign on an old fishing pier in Redington Shores. (WLT) Von Rohr looks to replace himself at Reliance BankJerry Von Rohr, chairman and chief executive of Reliance Bank, has hired an executive search firm to find a possible successor. For St. Louis banks, hurdles never endIn addition to bad loans, declining profits and heightened competition, St. Louis bankers now have to worry about what additional costs Washington, D.C., will impose on them. CMA Consulting prospects for health care clients as its state agency roster copes with fiscal pressuresCMA Consulting Services lost its low profile when it hired former state Sen. Joseph Bruno. And now, revenue from key customers is in jeopardy of fading, too. Jordan Group liquidating assetsThe Jordan Group has shut down and is preparing to liquidate its assets in an effort to settle nearly $3 million it owes creditors, according to an attorney for the Webster Groves-based advertising firm. Tenth annual breast cancer walk breaks records in TempeThe American Cancer Society held its 10th annual Making Strides Against Breast Cancer walk this month in Tempe, and the event set new records — for the amount of money raised, $650,000, and for the number of participants, 9,000. Capital to get $41M from feds as other banks get in lineRALEIGH – Capital Bank expects a $41 million cash infusion on or before Dec. 17 – an event that could make Capital the first Triangle-based financial institution to get money as part of the federal bank bailout. Time is money: Delays can be costly in accountingA lot of considerations may go into the calculus of choosing the right firm to handle a company’s accounting needs, but in the end, it may come down to a single factor: How long it takes to get answers to your questions. St. Anthony???s miracle market callThe finance committee at St. Anthony’s Medical Center made a decision this spring that many other people now wish they had made: They pulled out of the stock market. The godmother and an offer they shouldn???t refuseMy niece and goddaughter was married last weekend. Emily and her new husband are architects who graduated from Columbia and Princeton universities with honors. Bank turnaround expert launches new firmPat Frawley, the noted bank turnaround specialist, has ventured out on his own. File-sharing firm is investing in researchFor the past 12 years, GlobalSCAPE Inc. has striven to be the dominant player in the online file-sharing market. The company develops and markets managed file-transfer products that allow organizations to securely exchange sensitive information over the Internet. Net income drops as credit unions plan for more write-offsNORTHEAST FLORIDA — The primary source of capital and money used to cover loan losses at credit unions — net income — dropped in double-digit percentages in the third quarter among most credit unions in the area. Credit squeeze hammers sales of Tampa Harbour Yacht Club spaceTAMPA —The rackominium-dockominium concept is sunk, for now. No extra creditHeather McNamara borrowed $70,000 when she opened her children’s-accessory boutique, Sylvie & Bruno LLC in 2007, a sum that included a $10,000 line of credit she uses to cover inventory costs. She said if the economy were sound, she’d go back to the bank for additional credit to pay for advertising, but she’s not sure carrying extra debt is such a good idea today. Besides, she said, she’s not even sure she’d be able to get a loan if she applied. Packaging prosIn 38 years with Ansel Press, Michael Panzarella grew to love the company so much that he bought it last May. More deals expected in bank reshuffleThe banking landscape has changed dramatically in the past two quarters. Melrose area makes strides with revampsAt a time when inner-city “it” spots such as the Gulch are slowing down, an area three miles south of downtown Nashville is seeing new development and steady housing sales. First Horizon residential mortgage division going strong ??? at least within TennesseeFirst Horizon National Corp. got out of the national mortgage business at the end of August, but its focus on mortgage originations in Tennessee has never been stronger despite major downsizings, the Memphis-based company says. Morgan Keegan finds growth opportunities in Northeast from investment firms??? falloutThe landscape in the world of public finance has taken dramatic turns in the last few months with the demise or departure of several noteworthy investment firms. For Morgan Keegan & Co., Inc., that smells like opportunity. Finally: A plan to stimulate the economyIf you’re still waiting for an economic upturn, I have a confession to make: The delay may be my fault. Lew Wolff says Fremont, San Jose stadiums still onIn the face of a housing slump and credit crunch, Oakland A’s owner Lew Wolff has vowed to push ahead with plans to build a baseball stadium in Fremont and soccer stadium in San Jose. Keiretsu Forum outpaces S&P 500, Nasdaq in investment returnsA comparative analysis of angel investment returns versus those of broader stock indices done by a Keiretsu Forum member shows that the group outpaced the S&P 500 and Nasdaq Composite in six of seven years studied. Feds hope to unfreeze SBA, consumer lending programsThe Federal Reserve Board announced plans on Nov. 25 for a $200 billion lending facility aimed at unfreezing secondary markets for Small Business Administration loans and consumer loans. Eclipse bankruptcy helps some, hurts many othersEclipse Aviation Corp.’s decision to file for Chapter 11 bankruptcy protection may be very good news for Albuquerque, Eclipse employees, and the executives who want to retain and restructure the firm. Full speed aheadSteve Maestas never went to college. Instead, as a rebellious young man, he worked in the silver mines. He rode a Harley and considered himself bulletproof. New bank means businessOne of Galveston County’s best-known banking families is preparing to take its successful act on the road and enter the competitive Houston market. Mortgage brokers closing doors in wake of credit crunchThe tightened credit market and current housing slump in the Birmingham-Hoover metro area have forced several local mortgage brokers to shutter their businesses. Letters to the EditorRice oversights I was happy to see the Nov. 14 article, “Coffee breaks brew new technology firms” about the collaboration between Rice University and the Houston Technology Center in the “Commercialize It” Program. $33 million to buy new Mississippi River bridge right-of-wayMissouri and Illinois will soon start extending offers to acquire property and easements to make way for the new $640 million Mississippi River Bridge planned for north of downtown. To build the four-lane cable-stayed bridge, the two states are estimating they’ll pay a combined $33 million to purchase 120 acres. Burdened banks likely feeling automakers??? pain in shared marketsAsking how many major banks doing business in the Rust Belt are feeling the struggles of the auto industry and its crumbling car sales is like inquiring how many dead bodies are in a graveyard. Ohio holds out hope for Obama planWrestling with budgets stained by red ink, cash-strapped states such as Ohio are waiting for specifics on what President-elect Barack Obama’s economic stimulus plan has in store for them. As stocks plummet, foundation chiefs fretFor the Triad’s community foundations, Thanksgiving is typically the time of year when their most affluent donors review their investment portfolios and decide how much wealth they intend to share. Montgomery Co. company gets FDA clearance for deviceA medical device developer based in rural Montgomery County has received FDA clearance to bring a new product, the “Dyn-ALIF intervertebral body spinal fusion device,” to market. UNC board allows Bowles to amend financial termsThe University of North Carolina System Board of Governors, spooked by turmoil in the capital markets, has given President Erskine Bowles the authority to alter the system’s financial agreements. Disclosure filings show companies wrestling with challengesA St. Petersburg medical device manufacturer has been sued by a competitor in a case involving trade secrets. A Pinellas Park bank fell out of compliance with the terms of a lending agreement. A Clearwater residential property company has raised issues about its ability to stay in business. (ANL) Zaavy's tech vets tout banner ideaWhat it does: Zaavy Inc. provides consumers and businesses a way to personalize and acquire large-format banners, flags and signs online without a graphic designer or technical expert. The company’s software automates the design, sharing, ordering and fulfillment of these large-format products. Zaavy was recently selected as a “most valued” finalist at Keiretsu Forum’s Silicon Valley Angel Capital Expo. Bon app??titIt’s a tough time to be in the restaurant business. During economic downturns like this one, cutting back on luxury spending like eating out is an easy decision. Last year???s top startups: Ambitious plans for ???09Chief executives of last year’s top venture-backed startups are displaying something that’s in ever-shorter supply given the seismic activity in the global financial markets: optimism. Short-term financing available to businesses via factoringAs a small-business man and entrepreneur, Claude Garrett needed money to continue running his maintenance and repair service. His business, Desert Pros, repairs broken flooring, ceiling tiles, bathroom fixtures and similar items in heavily trafficked fast-food restaurants Valleywide. Despite nervous lenders and borrowers, local small-business lending still seen as healthyFor Phil Cooper, vice president for commercial lending at Louisville’s Commonwealth Bank & Trust Co., the way to encourage banks to make more loans guaranteed by the U.S. Small Business Administration is simple: Federal bailout may expose weak lenders as it aids stronger onesCongress’s $700 billion bailout package aimed at helping banks survive may have an unintended consequence: Lenders that apply for funds and are rejected could end up in worse shape than if they had done nothing. Loan servicer Ocwen buys Texas bankAs the only bank in Kent County, Texas, which has 735 residents in 902 square miles, Kent County State Bank would not seem like a prized acquisition target. Yet, Ocwen Financial Corp., which is among the 40 largest public companies in South Florida, apparently found a juicy deal in cattle country. (OCN) When everything goes wrong, it???s time for a turnaround teamSlowing sales, defaulting borrowers and rising unemployment are fueling a boom for members of the Turnaround Management Association’s Florida chapter. Tough times call for return to the basicsIt’s back to basics. With the hot wind of serious recession shrinking companies and potential business some of us will be forced to start over while others must jump start what they already have. I began my business 14 years ago at age 50. In hopes of helping you, here’s what worked for me: Maccecchini back in CEO seat at biotech startup QR Pharma<strong>Maria Maccecchini</strong> is back in the biotech business. Despite slump, banks have money to lendWASHINGTON — Bankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. Economic dowturn spurs wealth management firms to lure top talentLost among the headlines swirling around the crumbling capital markets is a simple truth playing out in Atlanta: The turmoil among financial institutions is feeding a fight for top talent among wealth managers. Steady growth strategyAlthough many investors’ plans are stymied by problems in the financial markets, Beacon Investment Properties is spending $100 million in the next six months. Wealth managers work to retain skittish clientsThe recent financial crisis has many wealth managers working overtime to prevent their clients from jumping ship. Firms calm investors amid uncertain economyAs economic uncertainty continues to plague the market, more consumers are turning to financial planning professionals to help them make sense of their investment portfolios. Wealth advisers urge clients to look long-termA tiny percentage of Ned Montag’s clients have made the drastic decision to pull out of the stock market as portfolios have plummeted in the past couple of months. Frustrated investors turn to boutique firmsWealthy investors are mad and they’re not going to take it any more. Cash advance firms provide businesses optionsTo keep the beer flowing, Dave Ulmer turned to an unconventional yet fast-growing way to raise working capital. Despite slump, banks seek good loansBankers swear they still have money to lend, even as bank profits fell to their second-lowest level in 18 years. Q&A: Financial firms shift tactics in shaky market<em>As one of Atlanta’s top wealth management executives, industry veteran Robert Balentine knows change is inevitable — especially in today’s turbulent financial markets.</em> Maccecchini back in CEO seat at biotech startup QR Pharma<strong>Maria Maccecchini</strong> is back in the biotech business. Kansas City financial company brings its syndicated radio program to Wichita marketThe recent volatility of the stock market has more people seeking investment advice. Leading the ChargeLeticia Nielsen is busy at Bishop Carroll High School. Realty honcho gives lowdown on housingLawrence Yun is on the go more than ever these days as chief economist and senior vice president of the National Association of Realtors. Florida bank acquiring Galveston charter to enter Texas marketA Florida-based bank is poised for a strong push into the Texas market through the acquisition of a bank charter held by a Houston-area financial services firm. After three years, Fuller locks up landFuller Realty Partners LLC tried for three years to buy 190 acres along State Highway 288. CityBeatHouston sports fans strike up team brands Houston fans do love their sports team brands.
travel insurance. So next time you start planning for your next vacation, also include the cost of the travel medical into your budget. Remember, without travel your planning remains grossly incomplete. Even if you consider yourself in a perfect state of health, you cannot predict when accidents or sickness may befall you. Travel health helps you to be on the safe side, so that you do not get hit with a huge medical bill. Here is some basic information about travel that will help you be well prepared for anything unexpected during your travels: * Travel in general does not just cover your medical expenses abroad, but also extends coverage to lost luggage and other personal belongings including passports and money. Repatriation costs are also included in the coverage and the costs incurred due to cancelled or delayed flights are also covered by the travel insurance. If you happen to damage items belonging to a third party, you get liability coverage from your travel company. If you want all these expenses covered by your travel coverage, you should purchase a comprehensive travel policy. * Most travel insurances generally cover trip cancellation, trip delays, medical and dental expenses, emergency medical transportation, lost luggage, missed connection, itinerary changes, accidental death, any kind of default on the part of airlines, cruise lines and tour operators. * It is recommended that you buy your travel policy directly from the company, rather than having it as an add-on to your travel package from your travel agent. This will give you considerable savings on the cost of the travel and you will be able to buy a policy with more comprehensive features. * Do not judge a policy on the basis of its price alone. A cheap policy does not necessarily mean it is a bad policy. On the other hand the more expensive policies may lack some of the more important features. So shop around on the internet, compare the travel quotes and find a travel product that caters to all your needs while traveling abroad. * Last of all, do not take any travel policy for granted; go through it in detail, take note of the disclaimer and make sure that you do not get cheated on the important provisions of your coverage. Article Source: Articles Beyond Better Before your next vacation make sure to purchase a Travel Insurance at AffordableTravelInsurance.info.
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