Finance Blog number 1

September 29, 2010

Air China orders four Boeing 777s

Filed under: news — Tags: , , — Sun @ 10:00 am

Boeing Co. said Air China has ordered four 777-300 extended range airplanes that have a total list price of $1.1 billion.

The Chicago aerospace giant (NYSE: BA) said Air China, the flagship carrier of the People's Republic of China, will use the Everett-built airplanes to expand its international routes payday loans in one hour.

"The 777-300ER will be the backbone of our long-haul international fleet," said Fan Cheng, vice president of Air China, in a statement.

Read Boeing's entire statement here.

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September 26, 2010

Tennessee gets $1.2M for health efforts

Filed under: online — Tags: , , — Sun @ 9:39 pm

Tennessee will receive nearly $1.2 million in federal grants under a provision of health care reform legislation aimed at supporting public health and prevention programs.

The grants, announced late today by the U.S. Department of Health and Human Services, will pay for HIV testing and tobacco quit lines and to track, monitor and respond to disease outbreaks in the state.

Of the nearly $100 million in grants announced today, more than $75 million will go to fund state and local public health programs supported through the Centers for Disease Control and Prevention. Another $26.2 million will go to state and community substance abuse and mental health programs, with the remainder going to various programs designed to fight obesity.

“This investment in prevention and public health will pay enormous dividends both today and in the future,” HHS Secretary Kathleen Sebelius said in a news release. “In order to strengthen our health care system, we need to stop just focusing solely on sick care and start focusing more on provide evidence-based ways to keep people healthy in the first place.”

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September 21, 2010

Eastwood opens High Point home design site

Filed under: technology — Tags: , , — Sun @ 11:30 pm

Charlotte-based builder Eastwood Homes has opened a new design center in High Point.

Eastwood’s new state-of-the-art facility is located at 4000 Piedmont Parkway.

The design center will allow buyers to view examples of products used in the construction of their new homes and customize their living space, according to a press release.

“We have been collecting feedback from our buyers, and we are excited to be responding to their requests by offering a number of fantastic new options in a conducive environment,” said Anna Bray, closing coordinator and design center specialist for Eastwood Homes, in a statement. “We are looking forward to providing Eastwood homeowners the opportunity to take the customization of their new homes to a new level.”

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September 17, 2010

Sezmi raises $17.3M in new funding

Filed under: economics — Tags: , — Sun @ 11:08 pm

Television entertainment company Sezmi Corp. said it has raised $17.3 million in funding in a filing Thursday with the Securities and Exchange Commission.

The Belmont-based company raised the money from two unnamed investors, according to the filing.

Sezmi, founded four years ago, offers a “set-top” box entertainment system and digital video recorder. Customers can access local and cable television channels, on-demand movies and old TV shows, as well as web videos and podcasts.

Most recently, the company announced on Sept. 8 that its hardware could be purchased on Amazon payday loans lenders.com. Its Sezmi Select entertainment service is only available to customers in 36 U.S. markets, including the Bay Area, Phoenix and Atlanta.

Meanwhile, the company said last November that it had raised nearly $25 million from investors that included Morgenthaler Ventures, Omni Capital and TD Fund, all of which had already put money into Sezmi.

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September 15, 2010

Mission Continues gets $1M Goldman Sachs gift

Filed under: finance — Tags: , — Sun @ 10:35 am

The Mission Continues, a national nonprofit, said it recently received its single largest financial contribution, a $1 million gift from Goldman Sachs partners through Goldman Sachs Gives, the firm’s donor advised fund.

Based in St. Louis, Mo., The Mission Continues works to enable returning veterans to serve as citizen leaders.

The partnership with Goldman Sachs will enable returning veterans from Iraq and Afghanistan to use their talents in high-impact service projects in the U.S., the nonprofit said.

The Mission Continues and Goldman Sachs began working together earlier this year to develop a nationwide partnership that will facilitate service projects on Veterans Day 2010.

Mission Continues volunteers nationwide are participating in community service projects in September, October and November, in memory of Sept. 11. The initiative culminates in the nonprofit’s Veterans Day Celebration and nationwide service projects on Nov us fast cash. 11.

The Mission Continues said it projects that Goldman Sachs’ gift will engage at least 5,000 people in community service projects.

Goldman Sachs personnel also will participate in nationwide service projects on Veteran’s Day, the nonprofit said, including about 720 people in at least six cities: the New York City area, San Francisco, Los Angeles, Chicago, Salt Lake City and Washington, D.C.

Goldman Sachs Group Inc. is a New York City-based investment banking firm.

The Mission Continues, headed by founder and CEO Eric Greitens, is a national nonprofit that offers service fellowships to wounded and disabled veterans and also organizes volunteer projects to engage veterans and the public.

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September 12, 2010

White House asks Castro to represent U.S. at Mexican national celebration

Filed under: online — Tags: , , — Sun @ 4:32 am

San Antonio Mayor Julian Castro has been selected as one of four members of an official Presidential Delegation that will travel to Mexico for the country’s 200th anniversary of its independence from Spain.

President Barack Obama assembled the four-member delegation, which will also include U.S. Secretary of Labor Hilda L. Solis, U.S. Ambassador to Mexico Carlos Pascual and Undersecretary of State for Democracy and Global Affairs Maria Otero. They will travel to Mexico on Tuesday, Sept. 14. The one-day visit will conclude with a dinner hosted by Mexican President Felipe Calderon. Dignitaries from around the world have been invited to attend.

“I’m honored to be part of a delegation commemorating an event that shaped the course of history not only in Mexico, but in the United States and the world,” Castro says. “By virtually any measure — trade, culture or a common history — the relationship between our two nations is inextricably linked small personal loans.”

Castro was asked to participate, in part, because of the strong historical and cultural ties San Antonio has with Mexico. About 60 percent of San Antonio’s population is Hispanic, the vast majority are of Mexican ancestry.

In addition, in 1953 San Antonio became the first U.S. city to have a Sister City relationship with a city in Mexico. San Antonio also served as the host city for the signing of the North American Free Trade Agreement in 1992. Mexico is also the leading export market for San Antonio firms. Exports to Mexico totaled $989 million in 2008, according to the U.S. Department of Commerce.

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September 8, 2010

Unions set sights on future

Filed under: news — Tags: , — Sun @ 9:45 pm

More than a century after Labor Day first trumpeted the contribution of the American worker, organized labor in Ohio is fighting to regain relevance.

Unions have taken their biggest hits in places like the Buckeye State, where manufacturing companies once dotted the landscape.

In 2001, union membership in Ohio stood at more than 900,000 members, or 17.6 percent of the working population, according to the U.S. Bureau of Labor Statistics. Since then, unions have lost more than 200,000 members, marking a nearly 25 percent drop, to 685,000 last year.

In Dayton, the drop in union membership has some clear culprits. The General Motors Moraine Assembly plant, which at one time employed tens of thousands of workers, closed in 2008 when it was down to 1,400 jobs. At its all-time peak in the 1960s, more than 37 percent of Ohio workers belonged to a union.

However, union officials insist organized labor isn’t going away. While their manufacturing-related membership has dropped, unions are gaining ranks in the public sector and pushing hard to land service sector workers. At the same time, unions are changing tactics to shore up industrial membership.

The IUE-CWA, the manufacturing division of Washington, D.C.-based Communication Workers of America, has been working for several years on getting its members additional skills training. The effort is part of an overall shift from being an adversary to being a partner with business, said Jim Clark, president of IUE-CWA, which relocated its headquarters to Dayton in 2008 and represents more than 50,000 workers across the country.

The more recent push includes lean performance training and a manufacturing skills training certification program. A “green” worker module is coming online next year. The IUE-CWA trains its members in a variety of ways: by providing it directly, working with business and partnering with institutions such as Sinclair Community College.

The goal, Clark said, is to help employers retain jobs that would normally be lost, and put them in a position to add jobs.

The union’s biggest target is companies that can’t afford to invest in training, which might turn the business around.

“If they’re one of our manufacturers and they get in trouble, we roll our sleeves up and we help pay the freight … and we help save that business,” Clark said. “We’re here for the long haul.”

However, local union ranks have taken a big hit recently. Last year, the Dayton-Springfield region had about 48,000 union members, or about 11 percent of the total workforce, according to unionstats.com, a Web site that tracks membership. Those numbers are down from nearly 68,000 members — or more than 15 percent of the total workforce — in 2000.

The public sector has been the one bright spot for unions as it has added workers.

Locally, the majority of union members, or about 30,000, are public sector employees. In 2000, only a third of members — about 23,000 — were public sector employees.

Andrew Doehrel, president and chief executive officer of the Ohio Chamber of Commerce, finds it troubling that union membership is up in the public sector.

“It hampers government’s ability to be responsive; it creates a new set of challenges,” Doehrel said.

Richard Stock, an economist and director of the University of Dayton’s Business Research Group, said although unions have been working to organize in the service sector, they haven’t been successful enough to offset the declines in manufacturing.

Health care has been a big target for the unions — something that worries industry officials — but overall the labor market is “way too fragile” for unions to make any significant gains in the next few years, Stock said.

In spite of declining numbers, unions are still grabbing headlines for their role in the fate of some big chunks of area jobs.

The United Auto Workers, for example, is headed for a big battle over terms of a new deal that will determine if roughly 700 jobs stay at Navistar International Corp.’s truck assembly plant in Springfield. A three-year contract covering the UAW across six facilities including the one in Clark County expires Oct. 1. And last fall, about 900 jobs at the Dayton Behr Thermal plant were saved when IUE-CWA Local 775 and the company were able to hammer out a four-year deal.

Despite their longstanding relationships, unions have not been able to get into some manufacturers, namely Honda Motor Co. Ltd. (NYSE: HMC), which has 2,750 workers north of Dayton in Anna. But many U.S. manufacturers, such as Ford Motor Co. (NYSE: F), General Electric Co. (NYSE: GE) and Butler County-based AK Steel (NYSE: AKS) have a unionized workforce. Other companies with union workforces include United Parcel Service (NYSE: UPS), Kroger Co. (NYSE: KR) and AT&T Inc. (NYSE: T).

Declining membership numbers might give the appearance that unions are less important these days, but Doehrel said unions in Ohio remain relevant because they represent a block of people that can be motivated. He draws a parallel to the Tea Party movement, where a core group of people are willing to take action.

“(Union members) are people that are willing to be involved and energized, so they continue to have an impact,” Doehrel said. “While it’s changed in the makeup here in Ohio, we are still a union state.”

Source

September 3, 2010

Cardin wants to change Medicare pay

Filed under: online — Tags: , , — Sun @ 3:47 am

If U.S. Sen. Benjamin Cardin gets his way in Congress, physicians, especially those in primary care, could get a bigger paycheck.

While the health care reform law will widen access to health care coverage for 98 percent of Americans, Cardin, a Maryland Democrat, said the law doesn’t address major issues like Medicare reimbursement rates, which are slated to be cut by 21 percent in December.

Cardin said he would support fixing the Medicare Sustainable Growth Rate, a metric designed to help the federal government decide how much it could increase or shrink reimbursements for doctors who care for individuals 65 and older.

He said the Patient Protection and Affordable Care act does not address long-term care or create a permanent fix the Medicare system. The problem is that the rate of growth in Medicare expenses is far outpacing the rate of growth in the gross domestic product.

“The bill is far from perfect. It’s a beginning, not an end,” Cardin said at a press conference at Mercy Medical Center downtown.

Cardin said the government also needs to work to revamp the reimbursement rate for physicians and reform tort law. Instead of physicians being paid on the basis of the volume of patients they see, Cardin said doctors should be pain on the quality of care they provide.

Cardin said he introduced a bill in the Senate to repeal the 1997 law that changed the physician reimbursement rate.

He also said that he wants to work on medical malpractice issues to lower malpractice insurance premiums while making sure the patient is still protected. Currently, some physicians pay anywhere from $100,000 to $150,000 for malpractice insurance.

“I’m fully prepared to engage in tort reform,” he said.

Cardin addressed concerns that the health care reform law will lead to rationing of health care. He said health care reform will give more people access to primary care and clinics, making them less likely to use emergency services, which are a bigger cost to the health care system.

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