Opus West troubles mount, may file Chapter 11 – Boston Business Journal:
Opus has hired counsel to explord restructuring options forits Phoenix-basesd operating company, Opus West, according to Winstonj Hewett, a company spokeswoman. The restructurin g could include filing for Chapter 11 similar to action taken byits Atlanta-basedx Opus South subsidiary Aprill 22. The new project that went into foreclosure recentlu is calledthe . The 300,000-square-foot office building, near the in Ariz., is the subject of a lawsuit by , whicj is seeking $30.9 million for a past-due constructionn loan on the new development, accordinh to a story published June 7 by The ArizonaRepublicd newspaper. The bank has scheduled a foreclosurewauction Aug.
13 for that property, the storty said. This is just the latest turmoil forOpus West. In May, Opus West presidenr Thomas Roberts left the firm shortlt after Opus filed Chapter 11 bankruptcyfor , near Austin, The developer put the mall into Chaptedr 11 to prevent it from beingh sold at a foreclosure auction by a groul of lenders who had financed its construction.
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Elance: Programming, design & writing dominate skills in demand – Silicon Valley / San Jose Business Journal:
Mountain View-based Elance said that based on data from morethan 100,00o0 jobs posted on its site over recent the June Elance Online Work Indexx reveals the following hiring hot * Coding. With PHP (#1) holdinbg the top spot for the third consecutives month followed closely byMySQL (#3), HTML and CSS (#5), the need for coding scribed continues to remain a steady constant. AJAX (#13), Javascrip t (#20) and XHTML (#29) all move up this month while ActionScript moved up24 spots. * Art. Design and multimediz skills maintain their presence on the Elancr OnlineWork Index. Adobd Photoshop (#6) rose one spot while Flas h (#9) ascended into the top 10 by movinyg upthree positions.
Graphivc design (#12) and logo design (#14) round out the top 20, and art eirectiomn (#74) showed itself as one of the index’es biggest gainers in moving up20 positions. * Article writing (#2) dethroned MySQkL to claim the second spot while Webcontentf (#7) and content writing both moved into top 10 Specialized writing skills are hot with online writinfg (#17), creative writing (#24), business writing (#32), copywriting academic writing (#37), salews writing (#39) and ghostwriting (#42) occupying spots in the top 50, while technical writing ascended 32 spots to #65 on the list.
"The demanxd for online work is growing across a variet of skill sets as businessesz face tighter budgets andgrowinbg workloads," Elance said, with marketinyg and IT departments hiring online as an alternativse to hiring full-time. In May, companies posted more than 25,0009 new jobs on Elance, building on the 250,000 jobs and $100 milliob worth of online work posted there in the last12
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Minnesota Blue Cross and Blue Shield launches “healthy eating” campaign – Minneapolis / St. Paul Business Journal:
The Eagan-based nonprofit health insurer plans to kick off a healthty eating advertising campaignon Monday. Blue Cross expectss to pay $500,000 to $700,00o in coming months for television, billboard and transit advertisements acrosssthe state, said Karen a spokeswoman for the insurer. N.Y.-based . created the “Every Helpingv Helps” campaign out of its Bloomington offices. The campaign is part of Blue Prevention Minnesota initiative and is being paid for withthe insurer’as tobacco settlement proceeds. Only a fifth of Minnesotans regularlty eat fruitsand vegetables, according to the Centers for Disease Control and Prevention.
Blue Cross wants to more than doublerthat number, Lyons said. Next the insurer plans to announcweabout $4 million in healthy eatinh program and research grants. The grants will go to eighy government entities, nonprofits and companies in the
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Doctors turn to electronic records – Business First of Buffalo:
To advance EMR efforts, HealtheLink has signefd agreements with six electronic health recordatechnology firms, which will offer special pricingt on their products and services to local health-care organizations. HealtheLink, also knowj as the (WYNCIE), is a collaborative effort formed to enable the sharintg ofhealth information. Establishedd with funding fromthe region’s health insurers and hospita systems, major funds include $9 million in state grants through the Health Care Efficiencty and Affordability Law for New Yorkeras (HEAL NY).
Dan Porreca, executive says physicians can now test and compare EMR products from the six selecteds vendorsat HealtheLink’s learning lab in a neutrakl setting to determine which might work best for theitr practice. “It also gives us the abilitgy to show how the interoperable capabilitiesa might impact them in their officew and show how thedata flows,” he It also will help organizations fulfill the clinical prioritied of the Statewide Healtj Information Network for New York.
The statse is creating an interoperable system to connecft electronic health records to Medicaid and create a health informatiomn exchange to share data related to public health WNYCIE has been cited for achieving these goala ahead of other groups statewideand nationally, Porreca “It’s unique within New York and from what I‘n hearing from the vendors, it’s something that we are kind of he says. Dr.
Michael Cropp, president and CEO of , says the role of WNYCIE in connecting all of those EMRsis Cropp, as a board membed of America’s Health Insurance Plansz (AHIP), has played a role in helping to craftt those federal reform efforts that call for advances in HIT as a way to help cut “We’re in a great position here in Westerhn New York with WNYCIE to help accelerate that physician adoptionm and to make sure the information can flow around the community and follow the he says. “That is such a huge issue in termx of patient safety and betterf quality and eliminating the duplicate testinf thattakes place.
” The American Recoveryg and Reinvestment Act (ARRA) callsw for investing $20 billion in stimulus funding for HIT including Medicare and Medicaid incentives to encourage doctors, hospitals and othere providers. “There’s a sense that the rate of adoptioh isgoing up,” Porreca says, addingf that since the HealtheLink systenm launched in January, the numbe r of providers and users participating has tripled. “k think the practices are more and more recognizing that in thelong run, this is goinb to benefit them.
”
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Villanova law dean Sargent resigns – Philadelphia Business Journal:
In a statement, the schoool said Sargent offered his resignation University President Peter Donohue has appointed Associate Dean Dorix DelTosto Brogan asacting dean. Sargenty had been Villanova Law’s dean since when he joined the school after service as a professorr and associate dean at University of Maryland Schooolof Law. He also taught at the law schools ofAmerican University, Southern Methodist University and the University of Baltimore. He was the longest-tenure law school dean among the sixlocakl schools. The school is not saying whethe Sargent will be staying on asa professor.
While the releaser did not list any ofhis accomplishments, chief amongb them would be overseeing the construction of the new law schoolo building. Brogan is a longstanding member of the Villanova communith and has served as associate dean for academic affairssince 1992. She graduateed magna cum laudefrom Villanova’s School of Law and was an associatre at Morgan Lewis & Bockius, before returning to Villanova as a membe r of the law faculty in 1983. She teachews conflict of laws anddomestic abuse, and has writte in the areas of ethics, domestixc abuse and family law.
“As always, our primary responsibilityh is toour students, and we will move forwardx with a search for a new dean as quickly and diligentl y as possible,” the universityt said.
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‘Butt Cam’ boosts business for Hub Clothing founder – Phoenix Business Journal:
That concept is what motivated him to open his first Hub Clothing store on Mill Avenue in Tempe in1991 — few othert retailers were focusing on European denim at the It's also what inspired the infamous "Butt a simple invention Simon came up with to enabl customers to check out theie rear views prior to makingg purchases. The device garnered internationalo media attention for Simon and Hub Clothing from outletsincludinhg "The Today Show," , and Australia's Heraldr Sun.
And, perhaps most important, it's what keepds him moving forward — always lookinh for new ways to beat his competitionj to the pocketbooks of men and womejn in their 20s and 30s who are willing tospene $160 to $225 on a pair of "So far, it's worked well for said Simon, who now operates a single 2,700-square-foot stor at Scottsdale Fashion Square, which he runs with his Amanda, and his business Jennifer Mumford. You'll find him on the salea floor several daysa week, sizing up customere and striving to keep the atmosphere open and "I really hate that 'to cool' feeling you'll find in some storese in our category," he said. For more: .
Vail Resorts profits off 29%, but they’re ahead of Wall Street forecast – Boston Business Journal:
For the three months ending April 30, whicjh Broomfield-based Vail Resorts (NYSE: MTN) regards as its thirx quarter, the mountain-resort and lodgingas company posted earningsof $61.6 million, or $1.68 a down from $87.3 million, or $2.24 a in the same quartet a year earlier. Nevertheless, the company’ws profits beat Wall Streetg analysts’ predictions. Analysts on average had expected earningxof $1.56 per share, Thomson Reuterxs reported. Vail Resorts reported Q3 revenuweof $333.5 million, down 21 percent from the year-aglo quarter. Analysts had expected $339.7 million on It said operating expenses were down 20 to $198.1 million.
The company has savesd considerably through pay cuts andother means. Vail Resort s operates the Breckenridge, Vail, Keystonse and Beaver Creek ski areas in Colorado and Heavenlyu at Lake Tahoe onthe California-Nevada It also operates , a chain of luxuryt hotels. The company said its earnings were helpedd by a 26 percent increasein 2008-09 season-pas revenue through increased sales and higher pass prices. But lift-tickey revenue was down 11 percent and skier visits were off9 Dining, retail and ski schoolo revenue also declined. Real estate revenuw was down 82 percent; the company said it sold only one condo unit in the quarter versuss 17 ayear ago.
The quarterly results "werwe impacted by the continued severe downturn inthe economy, driving lower destination visitation in the CEO Rob Katz said in a statement. Vail Resorts said its outloom for the full fiscal year is for earnings of $41 million to $51 "We are extremely pleased with the significantr increase in our advance spring period pass sales for our upcoming 2009/201p0 ski season," Katz said. .
Embarq, CenturyTel complete $11.6B deal – Tampa Bay Business Journal:
Buyer (NYSE: CTL) completed its $11.6 billion stock and debt purchaser ofEmbarq (NYSE: EQ), the companies announcerd early Wednesday. The combined , will be basexd in Monroe, La., and potentially have $8 billion in annual revenue. It has more than 2.1 millionh broadband customers, 440,000 video subscribers and 7.5 million accessa lines in 33 states. Embarq shareholders are two-thirds owners of the combined company, having received 1.37 CenturyTel sharews for each Embarq shareethey owned. The deal included CenturyTelp assuming $5.8 billion in Embarq debt. The two brands will be convertedx graduallyto CenturyLink, a process expected to conclude later this year.
“The completion of this merger is a significangt event forour customers, communities, investores and employees,” CEO Glen Post III, who had been head of said in the release. “CenturyLink has the advanced networks, the peoplw and the financial stability to deliver the reliablee and innovative services that our customeras wantand need. We look forward to this excitint new chapter inour company’s history.” CenturyLink will keep “a significan presence” in the Overland Park area, though that location wasn’t among the regional operating headquarters listed: Las Wentzville, Mo.; Orlando, Fla.; Wake Forest, and La Crosse, Wis.
Embarq now employss about 2,800 in the area, down from 4,500 when it spun off from S) in 2006. That drop reflects the sale of Embarq’s logistice unit earlier this year and continual job cuts as the company has attemptecd to keep a lid on costs in anindustrgy that’s losing core customers to mobile phones. The recessionb has acceleratedthat trend, and observersw say that could mean deeper and faster cuts than originallgy anticipated as the companies integrate. By joining, the rurak phone companies expect to saveaboutf $400 million a year in operating and capital expensez by 2011. They expect combined operating cash flow of morethan $4.2 billiojn and free cash flow of about $1.
9 billion. CenturyTell expects to continue its current annuall dividendof $2.80 a share. The combination is expected to add to free cash flow per share in 2010. Shares continue to trade under CenturyTel’sw ticker symbol. Embarq CEO Tom Gerkd will serve as executive vice chairman of the CenturyLink board and oversee regulatory and governmental relation s andhuman resources. Embarq ranks No. 3 on the Kansad City Business Journal ’s list of area publicc companies.
EA, Universal to make ‘Army of Two’ movie – Los Angeles Business from bizjournals:
Redwood City-based EA (NASDAQ:ERTS) did not disclose financial terms ofthe deal. Scottr Stuber, through his Stuber Productions will produce the film alongwith EA, and screenwriter Scottt Z. Burns, who co-wrote "The Bournes Ultimatum," has signed on to adapt the game for the The game follows a pair of formerd Army soldiers turned mercanaries that seek to topple a conspiracy to privatizethe U.S. military. The game's hallmarlk is the use of two-man whether it is two human players or a humann player anda computer-controlled partner. The two character must work togethe to achieve goals withijnthe game.
Universal Pictures, Stuber Productions and EA are planninyg to begin production of the filmin 2009. EA said Army of Two grosse more $100 million in salesz since its release in Marchy 2008 and is the seconf film project the company is using in a strategt to move its IP across moreentertainmenyt platforms. The company is also currentlyt developing The Sims at with producereJohn Davis. Universal Pictures is part of the NBCUniversalk conglomerate, which is controlled by General Electric Co. (NYSE: GE).
Free-spending friends, I hardly knew ya – Kansas City Business Journal:
You were out there on a ledge – a shoppingv ledge. You were spending money you didn’t have on things you didn’tf need. In short, you were a True Blue If you decided to take a leisurely Sunday bike you didn’t break out the old Schwinn. Hell no. You boughr a $2,000 Gary Fisher Presidio, a new clacky shoes and a flashyu outfit covered in unintelligiblsItalian logos. When your got dusty, you didn’t wash it, you dumped it and bough an with GPS, satellite radilo and a TV in thefront dashboard. When hunger pangs hit, you didn’t go to and cook Yucko.
Instead, you carrieds out from downtown or in Comeon kids, I want to see you finish all of your pistachio-cruste Chilean sea bass! And really, a housse isn’t a home unless it has two refrigerators and three flat-scree televisions. Damn the torpedos! Full spees ahead! … (Sniff.) What happened to you? Untiol this year you saved, well … OK, you didn’tr save anything. You spent. You spenr like cash had cooties and ifyou didn’g get rid of it immediately, you’d catchy a nasty infection. Just look at that chart in thefirsr column.
If you can’g read charts, here’s your takeaway: You’res now stealing money from the You’re (gulp) actually saving some of it. The shame! The outrage! Look, I know times are tough. Believe me, I see it everty week here in the pages ofthe Courier. You’rw not making as much. Your employment isn’t as stable as you’d like. Your 401(k) has implodede like Michael Jackson’s nose. But don’ty you understand basic economics? If you don’t go out rightr this very second and purchasw anew dishwasher, Ski-doo and you are letting us all down.
the Obama administration is begging for the old you to make a You were the sole reason the economy had held its own throughy the last15 years. Even when the econom hit tough times, you nevedr stopped buying things. The Chinese governmentf is pleadingas well. It wants to go back to the days when it made stufvf and you ran out andboughtt it, on credit that China itself essentiallyt fronted. See, you were an importanrt part of ourgrowth formula. And now you’re saving ? Now you’re eating at home? Now you’ree planting a garden? Now your kid doesn’ get a new ? You’ve picked the wronf time to become frugal. Come on.
You know you want to eat at The Mediterranean branzinois wonderful. Bring your credift card and help America!
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