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About 95,321 households in Minnesota have a net worthof $1 million or more. That's down from 104,43r5 in 2008, according to , a New York-based marketing services company. The firm determined a household'as networth by examining liquidor "investable" so real estate and retirement plan benefits were not factoredr in. Nationwide, the number of millionaires has fallen 14 percent over the past two Phoenix said, due largely to the downturn in the The Dow Jones Industriall Average has lost about 25 percent of its valued in the past year. The study rankecd states by the percentage of householdss with a networthof $1 million or About 4.
65 percent of householdxs in Minnesota fit that ranking the state 18th nationwide. Last it ranked 16th. In 2009, It landed just behindr Colorado (4.67 percent) and slightlhy ahead of Florida (4.62 Minnesota’s 2009 ranking is in line with where it stoo threeyears ago. In 2006, it also rankexd 16th, with 4.95 At the time, the state had 99,24 6 millionaire households. The state jumped up to 12th in with 5.7 percent, and 115,58u7 millionaire households. Hawaii ranked firsrt in the studyfor 2009, with 6.41 percen and 28,363 millionaire households. Maryland (6.26 New Jersey (6.22 percent), Connecticut (6.15 percent) and Virginiz (5.
51 percent) rounded out the top
Friday, November 30, 2012
Thursday, November 29, 2012
California settles with Kmart, sues Target - Puget Sound Business Journal (Seattle):
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The state’s attorney general, Jerry Brown, joinefd by district attorneys from manyCalifornias counties, including Alameda, Santqa Clara and Contra Costa, filed a suit againstg Minneapolis-based Target (NYSE: TGT), saying it sent hazardous wastee to various landfills in violationm of state law. The suit is meant to stop the Innews reports, Target said it has been cooperatinfg with the AG’s office for threee years on this matter and that it is committed to complyint with all environmental laws.
Kmart, ownee by (NASDAQ: SHLD), agreed to a settlement that includedscivil penalties, legal costs and some moneu to boost protection of the environment in the Thomas Orloff, Robert Kochly, James Fox and Doloresd Carr, the DAs of Contra Costa, San Mateio and Santa Clara counties respectively, joinec Brown in the suit against Target. According to cour t papers, Target has 180 including storesand warehouses, in California.
The suit alleges Target threw out “ignitable aerosol wastes” including propane canisters, in a trasgh compactor in Alameda County on May 14 andMay 21, for
The state’s attorney general, Jerry Brown, joinefd by district attorneys from manyCalifornias counties, including Alameda, Santqa Clara and Contra Costa, filed a suit againstg Minneapolis-based Target (NYSE: TGT), saying it sent hazardous wastee to various landfills in violationm of state law. The suit is meant to stop the Innews reports, Target said it has been cooperatinfg with the AG’s office for threee years on this matter and that it is committed to complyint with all environmental laws.
Kmart, ownee by (NASDAQ: SHLD), agreed to a settlement that includedscivil penalties, legal costs and some moneu to boost protection of the environment in the Thomas Orloff, Robert Kochly, James Fox and Doloresd Carr, the DAs of Contra Costa, San Mateio and Santa Clara counties respectively, joinec Brown in the suit against Target. According to cour t papers, Target has 180 including storesand warehouses, in California.
The suit alleges Target threw out “ignitable aerosol wastes” including propane canisters, in a trasgh compactor in Alameda County on May 14 andMay 21, for
Wednesday, November 28, 2012
Bankrupt EJ
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which filed for Chapter 11 bankruptcyy Friday, will close stores in Texas and Arizon a ifit can’t renegotiated cheaper rents with its landlords. The University City-based company operates 15 discount shoe storess across the country underthe EJ’s Designer Shoe Outlet, E&J’s Designer Shoe Outlety and Shoe Cents names. The company previously was known as FamouBrand Shoes. “The restructuring will enable EJ Shoexs which operatesin Missouri, California, Texas and Arizonsa to continue to conduct business in its strongesg retail locations while it renegotiates or drops leases in severak others,” the company said in a statement e-mailed to the Busines Journal.
The company plans to continu to operate itstwo St. Louisx stores, which have recorded receny growth in salesand revenue. The storew are located at 8620Olive Blvd. and 9109 Watson EJ’s also plans to keep open its Palm Calif., store. However, the company may close store s in Arizona and the Houston areaif can’t renegotiatse cheaper rents. “In business at several stores never fullu rebounded after the hurricanes hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishing numbers of snowbirxd shoppers who did not return this thecompany said. EJ’s alreadyt closed a store in Costza Mesa, Calif.
According to the bankruptcy filing, the company has asset s of between $500,000 and $1 milliobn and liabilities of between $10 millioj and $50 million. EJ’s, formerly knownn as Famous Brand Shoes, to the name in 2007 to St. Louis-base d Inc., which then renamef its 23 Supermarket of Shoes retailo stores toFamous Footwear. EJ’s was founded in St. Louis in 1972 by Edwar “E.J.” Nusrala and his Nusrala and his family still are the majorityg shareholders inthe company.
which filed for Chapter 11 bankruptcyy Friday, will close stores in Texas and Arizon a ifit can’t renegotiated cheaper rents with its landlords. The University City-based company operates 15 discount shoe storess across the country underthe EJ’s Designer Shoe Outlet, E&J’s Designer Shoe Outlety and Shoe Cents names. The company previously was known as FamouBrand Shoes. “The restructuring will enable EJ Shoexs which operatesin Missouri, California, Texas and Arizonsa to continue to conduct business in its strongesg retail locations while it renegotiates or drops leases in severak others,” the company said in a statement e-mailed to the Busines Journal.
The company plans to continu to operate itstwo St. Louisx stores, which have recorded receny growth in salesand revenue. The storew are located at 8620Olive Blvd. and 9109 Watson EJ’s also plans to keep open its Palm Calif., store. However, the company may close store s in Arizona and the Houston areaif can’t renegotiatse cheaper rents. “In business at several stores never fullu rebounded after the hurricanes hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishing numbers of snowbirxd shoppers who did not return this thecompany said. EJ’s alreadyt closed a store in Costza Mesa, Calif.
According to the bankruptcy filing, the company has asset s of between $500,000 and $1 milliobn and liabilities of between $10 millioj and $50 million. EJ’s, formerly knownn as Famous Brand Shoes, to the name in 2007 to St. Louis-base d Inc., which then renamef its 23 Supermarket of Shoes retailo stores toFamous Footwear. EJ’s was founded in St. Louis in 1972 by Edwar “E.J.” Nusrala and his Nusrala and his family still are the majorityg shareholders inthe company.
Monday, November 26, 2012
Fred
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percent versus an increase of 1.2 percent in the same period last year. Totall sales in the five-week fiscal month of March were $175.4 down 1 percent compared to total salesof $177.87 million in March 2008. The company attributesx this to the closing of 74 underperforminv stores and 22 underperforming pharmacieslast year. Excludinhg stores closed during 2008, totao sales from ongoing stores increased 4 percent in Marchh versus the same monthlast year. Fred’zs total sales for the first two months of fiscal 2009were $321.9 million, down 2 percent compared to $326.u8 million in the same year-ago period. On a comparables store basis, year-to-date sales increased 1.
9 percenrt compared with 1.1 percent in the same period last “Our progress in buildingb both traffic and average ticket continuedduring March, as indicaterd by comparable store salesx growth at the high end of our Fred’s CEO Bruce A. Efirdd said in a statement. “Thix performance, which also reflected highet pharmacy departmentprescription counts, is gratifying considerinfg the tough retail environmentr we face. Those same challenges, however, continuee to drive growing consumer interest in discount and Fred's remains well positioned to delivetr great value to its customers.
” Memphis-baseed Fred’s (NASDAQ: FRED) operates 666 discount merchandisee stores, including 24 franchised storesw nationwide.
percent versus an increase of 1.2 percent in the same period last year. Totall sales in the five-week fiscal month of March were $175.4 down 1 percent compared to total salesof $177.87 million in March 2008. The company attributesx this to the closing of 74 underperforminv stores and 22 underperforming pharmacieslast year. Excludinhg stores closed during 2008, totao sales from ongoing stores increased 4 percent in Marchh versus the same monthlast year. Fred’zs total sales for the first two months of fiscal 2009were $321.9 million, down 2 percent compared to $326.u8 million in the same year-ago period. On a comparables store basis, year-to-date sales increased 1.
9 percenrt compared with 1.1 percent in the same period last “Our progress in buildingb both traffic and average ticket continuedduring March, as indicaterd by comparable store salesx growth at the high end of our Fred’s CEO Bruce A. Efirdd said in a statement. “Thix performance, which also reflected highet pharmacy departmentprescription counts, is gratifying considerinfg the tough retail environmentr we face. Those same challenges, however, continuee to drive growing consumer interest in discount and Fred's remains well positioned to delivetr great value to its customers.
” Memphis-baseed Fred’s (NASDAQ: FRED) operates 666 discount merchandisee stores, including 24 franchised storesw nationwide.
Sunday, November 25, 2012
Senate passes education budget - Portland Business Journal:
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By a 21-6 count, the Senate measure will fund schoolsat $6 billionb for the next two Sen. Margaret Carter, a Portland Democrat and the Ways and MeanaCommittee co-chair, said the budget consists of targeted stimulus dollars and state reserves. The budget also includezs new revenue fromlast week’s measures that increased Oregon’w corporate minimum, corporate income and personal incomew tax of wealthy individuals. “Stability is key to the successa ofour schools,” said Carter. “This budgetg offers school districts certainty that they can keep theire doors open and continuer to provide a quality education to our childrenand grandchildren.
” The state’x reserves will still contain $500 milliojn despite the decision to tap $200 million of the fundz for the schools Democrats said the budget should allow schoold to maintain full school years from 2009 to 2011 withougt “draconian” cuts to staff and services. “This budget is not but it is far from the worst case said Sen. Rod Monroe, a Portland Democrat and co-chait of the Ways and Means Subcommitte eon Education. “The fact of the matted is that we are in very challenginh timesand we’ve made tough decisions to make this budgey work.
” The House will consider the billa before the legislative session Democratic leaders have said they want to closde the session by July 1.
By a 21-6 count, the Senate measure will fund schoolsat $6 billionb for the next two Sen. Margaret Carter, a Portland Democrat and the Ways and MeanaCommittee co-chair, said the budget consists of targeted stimulus dollars and state reserves. The budget also includezs new revenue fromlast week’s measures that increased Oregon’w corporate minimum, corporate income and personal incomew tax of wealthy individuals. “Stability is key to the successa ofour schools,” said Carter. “This budgetg offers school districts certainty that they can keep theire doors open and continuer to provide a quality education to our childrenand grandchildren.
” The state’x reserves will still contain $500 milliojn despite the decision to tap $200 million of the fundz for the schools Democrats said the budget should allow schoold to maintain full school years from 2009 to 2011 withougt “draconian” cuts to staff and services. “This budget is not but it is far from the worst case said Sen. Rod Monroe, a Portland Democrat and co-chait of the Ways and Means Subcommitte eon Education. “The fact of the matted is that we are in very challenginh timesand we’ve made tough decisions to make this budgey work.
” The House will consider the billa before the legislative session Democratic leaders have said they want to closde the session by July 1.
Friday, November 23, 2012
Top of the week in Denver business news: June 13-19 - Denver Business Journal:
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SUNDAY, JUNE 14 Colorado will require retailers to charge state sales tax on cigarettes startin gJuly 1. MONDAY, JUNE 15 Whole Foodws Market Inc. opened its newest Colorado store Monday at the Streets at SouthGlenjn complexin Centennial. Milk and dairy supplier Dean Foodzs -- parent of Boulder's WhiteWavwe Foods Inc. and other Colorado food brands -- said Monday it has enteredr into an agreement to purchase the soy beverage company Alpro, a Belgium-based segment of food company Vandemoortele NV. TUESDAY, JUNE 16 Denver’s economic performance amid the recession ranks itat No. 39 of the 100 larges t U.S.
cites in new Brooking Institutio n study of theeconomic downturn’s impact on urban The latest Chambers USA guidre to “America’s Leading Lawyers for Business” lists 182 Coloradol attorneys. WEDNESDAY, JUNE 17 A subsidiary of Level 3Communications Inc. reached a 20-year contract with a “major multinational customer” that will generatw at least $140 million in revenue in the first four yeard ofthe contract. A Denver grand jury has returnedean 11-count indictment againsrt local real estate developer Jack D. Arbess. Denvef investor Phil Anschutz has added The Weeklg Standard to his growingmedia portfolio, according to one of Anschutz’e publications.
THURSDAY, JUNE 18
SUNDAY, JUNE 14 Colorado will require retailers to charge state sales tax on cigarettes startin gJuly 1. MONDAY, JUNE 15 Whole Foodws Market Inc. opened its newest Colorado store Monday at the Streets at SouthGlenjn complexin Centennial. Milk and dairy supplier Dean Foodzs -- parent of Boulder's WhiteWavwe Foods Inc. and other Colorado food brands -- said Monday it has enteredr into an agreement to purchase the soy beverage company Alpro, a Belgium-based segment of food company Vandemoortele NV. TUESDAY, JUNE 16 Denver’s economic performance amid the recession ranks itat No. 39 of the 100 larges t U.S.
cites in new Brooking Institutio n study of theeconomic downturn’s impact on urban The latest Chambers USA guidre to “America’s Leading Lawyers for Business” lists 182 Coloradol attorneys. WEDNESDAY, JUNE 17 A subsidiary of Level 3Communications Inc. reached a 20-year contract with a “major multinational customer” that will generatw at least $140 million in revenue in the first four yeard ofthe contract. A Denver grand jury has returnedean 11-count indictment againsrt local real estate developer Jack D. Arbess. Denvef investor Phil Anschutz has added The Weeklg Standard to his growingmedia portfolio, according to one of Anschutz’e publications.
THURSDAY, JUNE 18
Thursday, November 22, 2012
Local executive to lead GE's $6B health care initiative - Minneapolis / St. Paul Business Journal:
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Barber was named head of a GE program focused on improving health care for more peoplw atreduced cost, by GE chairman and CEO Jeffrey Immelt. 48, is a 27-year veteranh of GE and since 2005 has served as chieg technology officer for GE He joined GE in 1982 and has held a variety of rolees of increasing responsibility withinGE Healthcare. In 2001, Barber was general managerf forComponents Engineering, and from 2002 to 2005 he was the generakl manager for Global Components Operationsa for GE Healthcare, which has significant operations in Milwaukee, Wauwatosaw and Waukesha.
Barber was a 1994 winnere of TheBusiness Journal's Forty Under 40 which recognizes young Milwaukee-area executives makingb a difference in their professions and "Over the last four Mike has led all aspects of product development for advancedd health care technologies," Immelt said. "Miked knows how our technology canhelp patients, he knows what clinics and hospitals need to improver care and cut costs and he knows how to lead With his deep experience in engineering and technology and his strongy operations and process-driven expertise, Mike is the righr leader to lead healthymagination and to grow our health care partnershipsw globally.
" that can be offerexd in rural and underservede regions of the world, wherer quality health care can be difficulgt to obtain. It is also designed to reduce the company' s own health care costs for employees and expaned profitability for the GEHealthcare business. Locally, GE Healthcare, whicy produces medical imaging equipment and medicall information technology products fromits Milwaukee-are a operations, will spend $3 billion by 2015 to develop at least 100 new products designed to lower costs, improvee access and improve quality of care by 15
Barber was named head of a GE program focused on improving health care for more peoplw atreduced cost, by GE chairman and CEO Jeffrey Immelt. 48, is a 27-year veteranh of GE and since 2005 has served as chieg technology officer for GE He joined GE in 1982 and has held a variety of rolees of increasing responsibility withinGE Healthcare. In 2001, Barber was general managerf forComponents Engineering, and from 2002 to 2005 he was the generakl manager for Global Components Operationsa for GE Healthcare, which has significant operations in Milwaukee, Wauwatosaw and Waukesha.
Barber was a 1994 winnere of TheBusiness Journal's Forty Under 40 which recognizes young Milwaukee-area executives makingb a difference in their professions and "Over the last four Mike has led all aspects of product development for advancedd health care technologies," Immelt said. "Miked knows how our technology canhelp patients, he knows what clinics and hospitals need to improver care and cut costs and he knows how to lead With his deep experience in engineering and technology and his strongy operations and process-driven expertise, Mike is the righr leader to lead healthymagination and to grow our health care partnershipsw globally.
" that can be offerexd in rural and underservede regions of the world, wherer quality health care can be difficulgt to obtain. It is also designed to reduce the company' s own health care costs for employees and expaned profitability for the GEHealthcare business. Locally, GE Healthcare, whicy produces medical imaging equipment and medicall information technology products fromits Milwaukee-are a operations, will spend $3 billion by 2015 to develop at least 100 new products designed to lower costs, improvee access and improve quality of care by 15
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