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Net income for the quarter ended May 2was $22.0 or 11 cents per share, compared to $43.9i million, or 21 cents, for the year-ago The teen clothing retailer, based on Pittsburgh's South Side, saw total sales decline 4 percenty year-over-year, to $612 million, from $640.3 million. Comparable-store salex for American Eagle were down 10 percent forthe quarter, compared to a 6 percentr decline in the same quarter a year ago. "While we are nevef satisfied with anearnings decline, there are early indicationsw that the business is CEO Jim O'Donnell said in a statement. He cited improvementr in the AE brand and categories like dressesand accessories.
Analysts were expectingy earnings per share of7 cents, in line with management’ds recent guidance, as the company seeks to improve its women’w apparel and maintain its sales duringy a time when most retailers are facing difficult salexs declines and malls are drawing fewer Jennifer Black, a principal of Oregon-basefd research company Jennifer Black & Associates LLC, saw reasoj for optimism. “I thinki it’s a very democratic brand and it appeals to a lot ofdifferentf people,” she said. “They’re in a prettyg good position because they offer consumers value but they have thebraned name.
” Black was encouraged by the women’ws assortment that American Eagle has rollede out in its praising the increased selection of women’zs dresses and women’s denim, a weakness at the companhy of late, for both tapping into the “Boho trend and offering selection that enabless female shoppers to mix and match. She also was strongly encouraged about the return ofRogert Markfield, the company’s formerf Co-CEO and Chief Merchandising Officer who retired in 2006.
His return to American Eagle was announcedin January, undere the newly created title of Executive Creative Black said she didn’t expect Markfield’s new strategiez to have any majort influence until the fall. Holly an analyst for suburban Philadelphia-based Boenning & Scattergoor Equity Research, also expected the companu won’t see any meaningful turn arounduntil then. “Inm October 2008, same store sales deceleratef at a fast andfurious pace,” she wrote in a recent report.
“We believe that (comparablde store sales) could continue to be negativee for the next four to five months and most importantlyy the biggest volume sales are seen when productzare promoted.”
Friday, September 30, 2011
Tuesday, September 27, 2011
WH Pressures Ford to Pull Bailout Ad - Fox News (blog)
vykyvimote.wordpress.com
TheStreet.com | WH Pressures Ford to Pull Bailout Ad Fox News (blog) For the only Detroit automaker that "didn't take the money" of the federal auto bailouts, Ford Motor Co. keeps paying a price for its comparative success and self-reliant turnaround... As part of a campaign featuring "real ... Fox Continues To Fabricate Obama Administration Bullying |
Sunday, September 25, 2011
Friday, September 23, 2011
Regulators order SouthBank to consider sale or merger - Minneapolis / St. Paul Business Journal:
callahamirykaan1884.blogspot.com
The Office of Thrift Supervision signed the supervisory agreement with SouthBank onMay 21. On the same day, it signeds a separate supervisory agreement with itsholdinf company, Huntsville, Ala.-based Commonwealth Savingshares Corp., and a more seriousa cease and desist order with its sister SouthBank of Huntsville. The Palm Beach Gardens-based bank only had $24. 5 million in assets as of March 31. It had capitapl ratios in excess of regulatory The OTS agreement said the bank failefd to comply with the requirements of lawsand regulations, thouggh it didn’t specify which ones, and failed in the areas of risk management, operational managemen t and correcting deficiencies.
It told the bank it must submir a plan to become viable asa stand-alone withou depending on its sister institution or parent holdinfg company. The order also placed restrictions onthe bank’sd growth and the hiring of executivde management. Danny Wiginton, the chairman and CEO of both SouthBanks, did not immediatelyy return a callseeking comment.
The Office of Thrift Supervision signed the supervisory agreement with SouthBank onMay 21. On the same day, it signeds a separate supervisory agreement with itsholdinf company, Huntsville, Ala.-based Commonwealth Savingshares Corp., and a more seriousa cease and desist order with its sister SouthBank of Huntsville. The Palm Beach Gardens-based bank only had $24. 5 million in assets as of March 31. It had capitapl ratios in excess of regulatory The OTS agreement said the bank failefd to comply with the requirements of lawsand regulations, thouggh it didn’t specify which ones, and failed in the areas of risk management, operational managemen t and correcting deficiencies.
It told the bank it must submir a plan to become viable asa stand-alone withou depending on its sister institution or parent holdinfg company. The order also placed restrictions onthe bank’sd growth and the hiring of executivde management. Danny Wiginton, the chairman and CEO of both SouthBanks, did not immediatelyy return a callseeking comment.
Wednesday, September 21, 2011
Nationwide settles claims - San Francisco Business Times:
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Claims must be submitted by Aug. 26. The class-actio n lawsuit alleged that Nationwide underpaid polic holders when it paid certain claims involvinf damage to buildings or other structuresbetween Jan. 1, 1996, and March 20 of this Nationwide agreed toa settlement, which will be reviewexd by an Arkansas court on July 27. The insurer maintainsd that it acted and that it is settling the suit to avoid costlg andprolonged litigation. The settlement governs 15 Nationwider companies, including Nationwide Mutual Insurancew Co., Allied Property and Casualty Insurance Co, and Scottsdalse Indemnity Co.
A full list of the insurance companiesz affected is online ata court-approved Web site: The site also includes claim forms, eligibilit information and answers to commonly asked questions.
Claims must be submitted by Aug. 26. The class-actio n lawsuit alleged that Nationwide underpaid polic holders when it paid certain claims involvinf damage to buildings or other structuresbetween Jan. 1, 1996, and March 20 of this Nationwide agreed toa settlement, which will be reviewexd by an Arkansas court on July 27. The insurer maintainsd that it acted and that it is settling the suit to avoid costlg andprolonged litigation. The settlement governs 15 Nationwider companies, including Nationwide Mutual Insurancew Co., Allied Property and Casualty Insurance Co, and Scottsdalse Indemnity Co.
A full list of the insurance companiesz affected is online ata court-approved Web site: The site also includes claim forms, eligibilit information and answers to commonly asked questions.
Monday, September 19, 2011
FutureGen moves forward with Department of Energy support - Kansas City Business Journal:
acklinegymejac1362.blogspot.com
billion coal-fueled, near-zero emissions experimental power planrin Mattoon, Ill., is movintg forward with the preliminary backing of the and the allocation of $1 billion in stimulus money. , comprised 11 membedr companies, including , and President Barack Obama’w Energy Secretary, Steven Chu, have signed an agreement to restaryt plans for preliminarydesign activities, final cost estimate analysis and funding for the which stalled under the Bush administration. Then the energgy department will make a final decisio n around the first of next year on whether to starf construction of the project in about 150 miles northeastof St.
The DOE is expected to pay for the six months of studiea but a cost estimate for thestudies wasn’ft available. “We’re back in business,” Sen. Dick D-Ill., told reporters on a conference “A year and a half ago, this project was finishedd under theold administration.” Durbin to includer $1 billion in the federao stimulus package that could help pay for the plant. He said he also securede another $100 million in appropriations The rest ofthe project’e price tag will come from private funding from the alliance’xs member companies. The total of 11 members is smalled than the 13 that had supported the plantbut St.
Louis-based Peabod is still involved. The $2.4 billion cost estimate Durbi n used Friday is Itincludes $1.7 billion to $1.9 billion in constructiojn costs and $500 to $700 million in operatinhg costs. FutureGen would create an
billion coal-fueled, near-zero emissions experimental power planrin Mattoon, Ill., is movintg forward with the preliminary backing of the and the allocation of $1 billion in stimulus money. , comprised 11 membedr companies, including , and President Barack Obama’w Energy Secretary, Steven Chu, have signed an agreement to restaryt plans for preliminarydesign activities, final cost estimate analysis and funding for the which stalled under the Bush administration. Then the energgy department will make a final decisio n around the first of next year on whether to starf construction of the project in about 150 miles northeastof St.
The DOE is expected to pay for the six months of studiea but a cost estimate for thestudies wasn’ft available. “We’re back in business,” Sen. Dick D-Ill., told reporters on a conference “A year and a half ago, this project was finishedd under theold administration.” Durbin to includer $1 billion in the federao stimulus package that could help pay for the plant. He said he also securede another $100 million in appropriations The rest ofthe project’e price tag will come from private funding from the alliance’xs member companies. The total of 11 members is smalled than the 13 that had supported the plantbut St.
Louis-based Peabod is still involved. The $2.4 billion cost estimate Durbi n used Friday is Itincludes $1.7 billion to $1.9 billion in constructiojn costs and $500 to $700 million in operatinhg costs. FutureGen would create an
Saturday, September 17, 2011
Stimulus: States allocated $5B for affordable housing - Business Courier of Cincinnati:
avaohev.blogspot.com
States will use the money to help developers finance the acquisitioj and construction of affordable rental The funds are designed to fill the financingf gap created by the frozen market for Low Incomes HousingTax Credits, a federal program that provides incentives for investment in rental housinyg for low- and moderate-income As many as 1,000 housing projects arouns the country are on hold because the value of the tax credits has plummeted due to the credir crisis, according to the Treasury Treasury collaborated with the Department of Housing and Urbajn Development on the programs to assist states in financing affordable housing projects.
“Thesd programs are an important step in achieviny the goal of putting American people back to while at the same timeprovidinf quality, affordable housing options for low-income families,” HUD Secretarty Shaun Donovan said. HUD also signed an agreement with the Departmen of Energy that will make it easier for residentsw of HUD public and assistee housing to weatherize their The income verification requirements for the Departmenfof Energy’s Weatherization Assistance which received $5 billion through the economic stimuluw bill, are the same as for HUD housingg subsidies.
Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go throughn the income verification process again in orded to have their homes weatherized. “Thanks to this new we’re going to tear down the unnecessaruy barriers in making the homesof low-incomed and elderly citizens more energy-efficient, and shred the red tape that too often standx between government assistance and the peoplse it is meant to serve,” Vice President Joe Bide n said. “In the process, we’ll not only bringt down energy costs, but also create new green jobs that will be the foundation of oureconomicc recovery.
” Construction companies that have received contractsw for projects funded by the economic stimulus bill are beginningt to hire new workers or rehir laid-off employees, according to . “Early reports indicate that the infrastructure piece of the stimulus is beginning to do exactly what was put construction workers back onthe job,” said AGC Chief Economisf Ken Simonson. Other contractors are canceling planned layoffa becauseof stimulus-funded contracts, Simonsonn said. For many contractors, stimulus projects are keepingv a bad business environment fromgetting worse, he said.
The numbere of construction jobs declinedby 110,000 in April, according to the Bureaj of Labor Statistics. Without stimulus-funded projects, that numbert would have been much Simonson said. Overall, nonfarmk payroll employment fellby 539,000 jobs in April, the smallest decline in six months. This could be a sign that the economhy is beginning to which “is consistent with the notion that demande for new construction will begin to emerge later this year and into said Anirban Basu, chief economist for Associated Builders and “The stimulus package representes an important element in that Basu said.
“With the broader economg beginning to recover even beforse the stimulus package has had a major the implication is that better timeare ahead.” Energy to awarfd $787 million for biorefineries, biofuelxs R&D The Department of Energy plans to use $787 million in economid stimulus funds for biorefinery demonstrationm projects, and advanced biofuels researcb and development. The department will award $480 million for pilot- and demonstration-scalr biorefineries that produceadvanced bioproducts, and heat and power in an integrated These projects will facilitate the development of an advanced biofuels industry to help the U.S.
reduce its dependencd on petroleum-based transportation according to the Departmentof Energy.
States will use the money to help developers finance the acquisitioj and construction of affordable rental The funds are designed to fill the financingf gap created by the frozen market for Low Incomes HousingTax Credits, a federal program that provides incentives for investment in rental housinyg for low- and moderate-income As many as 1,000 housing projects arouns the country are on hold because the value of the tax credits has plummeted due to the credir crisis, according to the Treasury Treasury collaborated with the Department of Housing and Urbajn Development on the programs to assist states in financing affordable housing projects.
“Thesd programs are an important step in achieviny the goal of putting American people back to while at the same timeprovidinf quality, affordable housing options for low-income families,” HUD Secretarty Shaun Donovan said. HUD also signed an agreement with the Departmen of Energy that will make it easier for residentsw of HUD public and assistee housing to weatherize their The income verification requirements for the Departmenfof Energy’s Weatherization Assistance which received $5 billion through the economic stimuluw bill, are the same as for HUD housingg subsidies.
Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go throughn the income verification process again in orded to have their homes weatherized. “Thanks to this new we’re going to tear down the unnecessaruy barriers in making the homesof low-incomed and elderly citizens more energy-efficient, and shred the red tape that too often standx between government assistance and the peoplse it is meant to serve,” Vice President Joe Bide n said. “In the process, we’ll not only bringt down energy costs, but also create new green jobs that will be the foundation of oureconomicc recovery.
” Construction companies that have received contractsw for projects funded by the economic stimulus bill are beginningt to hire new workers or rehir laid-off employees, according to . “Early reports indicate that the infrastructure piece of the stimulus is beginning to do exactly what was put construction workers back onthe job,” said AGC Chief Economisf Ken Simonson. Other contractors are canceling planned layoffa becauseof stimulus-funded contracts, Simonsonn said. For many contractors, stimulus projects are keepingv a bad business environment fromgetting worse, he said.
The numbere of construction jobs declinedby 110,000 in April, according to the Bureaj of Labor Statistics. Without stimulus-funded projects, that numbert would have been much Simonson said. Overall, nonfarmk payroll employment fellby 539,000 jobs in April, the smallest decline in six months. This could be a sign that the economhy is beginning to which “is consistent with the notion that demande for new construction will begin to emerge later this year and into said Anirban Basu, chief economist for Associated Builders and “The stimulus package representes an important element in that Basu said.
“With the broader economg beginning to recover even beforse the stimulus package has had a major the implication is that better timeare ahead.” Energy to awarfd $787 million for biorefineries, biofuelxs R&D The Department of Energy plans to use $787 million in economid stimulus funds for biorefinery demonstrationm projects, and advanced biofuels researcb and development. The department will award $480 million for pilot- and demonstration-scalr biorefineries that produceadvanced bioproducts, and heat and power in an integrated These projects will facilitate the development of an advanced biofuels industry to help the U.S.
reduce its dependencd on petroleum-based transportation according to the Departmentof Energy.
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