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About $9.1 million is how much the carmaker owes theWest Chester-baser steel manufacturer in trade according to a list of GM’sd 50 largest unsecured creditorw that was included with its initialp bankruptcy court filings Monday. was listedf as the company’s 33rd largest unsecured creditor. The only other Ohio companyt on the list was GoodyearTire & Rubbe r Co. in Akron, which is on the hook for almosr $7 million. No Kentucky or Indianqa companies were onthe list. Asidre from bond debt and employee which accountfor GM’s five largest unsecured the top trade debt discloseds was $122 million owed to Starcom Mediavestf Group Inc. of Chicago.
GM has been AK Steel’s biggestg customer for years, although the percentage of totakl sales it derives from the troubled automotive company has been declining inrecent years. AK Steelk did not disclose how much it sold to GM in 2008 in its latestrannual report, but earlier annual reports discloser that shipments to GM accounted for 20 percent of net salew in 2003, 15 percent in 2004, 13 percentf in 2005, and less than 10 percent in 2006 and 2007. AK Steep said about 28 percent of its trade receivablesa outstanding at the end of 2008 were due from businessese associated withthe U.S. automotive industry, includint General Motors, Chrysler and Ford.
Its 2008 annuao report also included the followingcautionary disclosure: “I any of these three major domestic automotivde companies were to make a bankruptcy it could lead to similar filings by suppliers to the automotive industry, many of whom are customerws of the company. The compangy thus could be adversely impacted not only directly by the bankruptc of a major domestic automotive but also indirectly by the resultant bankruptciesa of other customers who supply theautomotivd industry. The nature of that impact coulfd be not only a reduction infuture sales, but also a loss associatedf with the potential inability to collect all outstandinyg accounts receivables.
That couldr negatively impact the company’s financial results and cash The company is monitoring this situation closely and has takeb steps to try to mitigate its exposure to suchadversre impacts, but because of current market conditions and the volums of business involved, it cannot eliminate these risks.”
Thursday, August 9, 2012
Wednesday, August 8, 2012
Missouri to cut at least more $100M from budget, axe at least 200 more jobs - St. Louis Business Journal:
hegenefipa.blogspot.com
Missouri will have to cut at leasrt 200 more state jobs througn attritionand layoffs; that’s in addition to the Budget Directort Linda Luebbering said. Missouri has about 58,000 full-timd employees. Gov. Jay Nixoh is expected to announce his plans for the additional cost cuts intwo weeks, beforre fiscal 2010 starts July 1. The state now expects nearly $7.4 billionj in revenue for fiscal 2010, about $370 million less than the roughly $7.8 billion that state had anticipatedin January, Luebbering said. More than 85 percenf of the state’s revenue stream comes from individuao incometaxes (60 percent) and sales taxesw (25 percent).
“Our revenu e stream is directly related to peoplw workingand buying,” Luebbering said. “Peopl are not working as many Some have losttheir jobs. People are just not Missouri’s seasonally adjusted unemployment rate was During this past GeneralAssembly session, the legislature passed a $23 billiohn operating budget and spent nearly $1.3 billion in federal stimulus funds, including $800 million for core programs, such as healtj care and education. The rest was spent on one-time Stimulus funding will dry upafter 2011.
Missouri will have to cut at leasrt 200 more state jobs througn attritionand layoffs; that’s in addition to the Budget Directort Linda Luebbering said. Missouri has about 58,000 full-timd employees. Gov. Jay Nixoh is expected to announce his plans for the additional cost cuts intwo weeks, beforre fiscal 2010 starts July 1. The state now expects nearly $7.4 billionj in revenue for fiscal 2010, about $370 million less than the roughly $7.8 billion that state had anticipatedin January, Luebbering said. More than 85 percenf of the state’s revenue stream comes from individuao incometaxes (60 percent) and sales taxesw (25 percent).
“Our revenu e stream is directly related to peoplw workingand buying,” Luebbering said. “Peopl are not working as many Some have losttheir jobs. People are just not Missouri’s seasonally adjusted unemployment rate was During this past GeneralAssembly session, the legislature passed a $23 billiohn operating budget and spent nearly $1.3 billion in federal stimulus funds, including $800 million for core programs, such as healtj care and education. The rest was spent on one-time Stimulus funding will dry upafter 2011.
Monday, August 6, 2012
English as a second language: Could you pass the test? - Washington Post (blog)
8511ysu.blogspot.com
English as a second language: Could you pass the test? Washington Post (blog) For Japanese billionaire Hiroshi Mikitani, converting his e-commerce company to an English-speaking workplace was a matter of survival. Japan ranks 27th out of 30 among Asian nations in English-language proficiency, according to Test of English as a ... |
Sunday, August 5, 2012
Less parking, more parklets: City hopes new 'people spots' will increase foot ... - Chicago Tribune (blog)
cicugaha.wordpress.com
Less parking, more parklets: City hopes new 'people spots' will increase foot ... Chicago Tribune (blog) Designed by the dSpace Studio and located at 2959 N. Lincoln Ave., the Lakeview parklet (left) helps remedy the lack of greenery and inviting places to sit and relax that has long afflicted this stretch of Lincoln. Parkletgrasses Its zinc-colored ... |
NH bishop-elect from Mass. prepares for ordination Boston.com CONCORD, N.H.รข€"The Episcopal Diocese of New Hampshire is preparing to swear in a new leader to replace Gene Robinson, who made international headlines when he was ordained in 2003 as the first openly gay bishop in the Anglican church. New NH bishop to be ordained Saturday A bishop's winding path Incoming bishop once organized 'marriage fast' |
Thursday, August 2, 2012
Godsmack's Shannon Larkin on Loving the Olympics, Covering Phil Collins - Noisecreep
mcfarlainofuqub1258.blogspot.com
Godsmack's Shannon Larkin on Loving the Olympics, Covering Phil Collins Noisecreep Godsmack drummer Shannon Larkin barely has time to rest at home on the Florida coast these days. With the big UPROAR Tour starting in just a couple of weeks, he's getting in some rehearsal time with 'Smack guitarist Tony Rombola, who also lives in the ... |
Wednesday, August 1, 2012
D.C. Office of Property Management issues guide on green buildings - Washington Business Journal:
humojo.wordpress.com
has issued the guidebook to walk its agenchy project managers through the design and construction procesd to winthe U.S. Greenm Building Council’s Leadership in Energy and Environmental Design certification. City agencies must adhere to the D.C. Green Building Act, which began requiring last year that substantiap publicly funded building projectsachievw LEED’s silver status or above. But city leaderse said they have set their sights higher with thisreferencer guide. “The LEED Guide is already making a difference in the said Robin-Eve Jasper, director of OPM.
“Thanks in part to the LEED OPM expects to have more LEED Gold projects like the in Southwesgt and the Department of Employment Services headquartersin Indeed, the guidebook was written as project managers were undergoing the designn and LEED application process for the $218 350,000-square-foot Consolidated Forensic Lab. The architecturalp firm Hellmuth, Obata + Kassabaum Architects helped authorthe guidebook. Though, partl y as a result, the current guidebooik contains the steps to attainintg the current version of LEED potentially making it outdatedc whenLEED 2009, the next is set to kick in later this summer. The D.C. LEED guidebook can be found .
has issued the guidebook to walk its agenchy project managers through the design and construction procesd to winthe U.S. Greenm Building Council’s Leadership in Energy and Environmental Design certification. City agencies must adhere to the D.C. Green Building Act, which began requiring last year that substantiap publicly funded building projectsachievw LEED’s silver status or above. But city leaderse said they have set their sights higher with thisreferencer guide. “The LEED Guide is already making a difference in the said Robin-Eve Jasper, director of OPM.
“Thanks in part to the LEED OPM expects to have more LEED Gold projects like the in Southwesgt and the Department of Employment Services headquartersin Indeed, the guidebook was written as project managers were undergoing the designn and LEED application process for the $218 350,000-square-foot Consolidated Forensic Lab. The architecturalp firm Hellmuth, Obata + Kassabaum Architects helped authorthe guidebook. Though, partl y as a result, the current guidebooik contains the steps to attainintg the current version of LEED potentially making it outdatedc whenLEED 2009, the next is set to kick in later this summer. The D.C. LEED guidebook can be found .
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