Empire Homes owner arrested - The Business Journal of the Greater Triad Area:

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According to Lt. Brad Shirley of the Grahaj Police Department, DeWeese got into a disputew in Elon on Saturdagy with a subcontractor overunpaid bills. Elon police were and when officers ran a records found that there was an arrestf warrant out for DeWeessein Graham. Graham officers were called, and they arrested DeWeese for felony obtaining monehy byfalse pretenses. Shirley said his office begamn investigating DeWeese in March over allegationds that heaccepted $25,000 from a customerd to build a home, but that work never begamn before his company, Empire Homees in Graham, shut down. Shirleyy said the warrant was issuedin May.
Shirleg said his first court appearances was scheduledfor Tuesday, but did not have any other information on the hearing. DeWeese could not be immediatel y reachedfor comment. DeWeese closed his six-year-olrd home building company earlier this spring as it faced millionws of dollars in liens and lawsuits forunpaisd bills. Several of the company’sx lots have been taken back by and recently, a trio of investoras bought Empire’s 23,000-square-foot headquarters for $854,437 in a foreclosure auction.

FDIC hits Cape Fear Bank with cease and desist letter - Triangle Business Journal:

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The bank, formerly called the Bank of says the list of remedial actions was spelled out in a ceasse and desist order issued by the FDIC followingv an October2008 audit. The bank’sz release did not specify how much additionalo capital the lender will be requirexd to raise to satisfy As part of the cease and desist CapeFear (Nasdaq: CAPE) also was directec to strengthen its management team, a step the bank says was followingt the proxy fight launched by Burlingtonj textile executive and bank investor Maurice In November, Ralph Strayhorn, former chie f executive of Greensboro-based , was named Cape Fear CEO. In five new directors were appointed.
“The new board of directorsd and the new chief executive officer of the have been activelu engaged in responding to the concernsw raised inthe order,” the bank’s statement The bank's leadership also will have to deal with its plummetin stock. Cape Fear shares, already trading for under $1, lost almosty half of their value on Thursday aftee Cape Fear issued a release saying it had receivex the cease anddesist order. The stock price, whicy has reached as high as $10.14 over the past 12 closed Thursdayat 33.5 cents.

Staff say Falkirk-based college can’t take any more - Falkirk Herald

Built In Refrigerators

Staff say Falkirk-based college can’t take any more Falkirk Herald Despite a record number of applicants, Scottish colleges have seen a drop of seven per cent in staff, which is above any other public sector area. Speaking yesterday Billy McChord, secretary of the Forth Valley branch of Educational Institute of ... and more »

Archway doubles in size with acquisition of Resolve division - Minneapolis / St. Paul Business Journal:

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has completed its purchase of the supply chai management divisionof Toronto’s Resolve Business Outsourcin Income Fund. Archway paid abouft $21 million for the division ofResolve (TSX: RBO.UN). The deal included client contracts, eight American locations and fiveCanadiabn locations, as well as approximately 800 according to a press release from Resolve. As a resul of the deal, Archway has nearly doubled in size to annua l revenues ofabout $200 million and closer to 1,500 employees and 3.5 millionm square feet of distribution space, Archwagy said in its press release. Archway is a marketing operationz management company that assists firms with rebates andconsumeer promotions.
It is also one of the largesr managers and inNorth America. Archway has more than 40 including Target, Mars, Ford, MasterCard, Taco Bell, and Microsoft. Resolve’s supply chaimn management division has approximateluy 225 clientsincluding Neutrogena, Honda, Millefr Brewing, Pepsi, Staples, Philip Blockbuster, Procter & Gamble and Kimberly-Clark. Archwayg said this deal will help it gain more economiess of scale and land more business in the turbulenf fulfillment andpromotions industry. “Major brands are streamlininy their marketing resources and looking for partners they can count on to perforkm the work ofmultiple vendors,” stated Mike Moroz, president of Archway.
“More importantly, they need to be confident that theid partners are going to be in business tomorrow and next Archway is privately InNovember 2008, Tailwinr Capital Partners and Black Canyon Capitalo acquired the company along with the Archway management team.

BWW Reviews: MANIFEST DESTINY at The Kings Head Theatre - Broadway World

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Spoonfed

BWW Reviews: MANIFEST DESTINY at The Kings Head Theatre Broadway World One of the central messages of Keith Burstein's and Dic Edwards' Manifest Destiny 2011, a reworking of their 2003 opera Manifest Destiny (at the King's Head Theatre in rep), addresses the question of whether art can be more powerful than violence in ... Manifest Destiny 2011 at Kings Head Theatre Spoonfed  »

Fernwood pops as the Bubble Man delights - Globe and Mail

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Globe and Mail

Fernwood pops as the Bubble Man delights Globe and Mail On 363 days of the year, excepting only Christmas and New Year's, he can be found on or near Fernwood Square in Victoria, where he delights passersby by blowing, manufacturing and otherwise interacting with soapy bubbles. “Little kids chase them. ...

Fitch cuts UCBH rating as bank suspends dividend - Austin Business Journal:

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The troubled bank also hired a financial adviser to assisy withcapital planning. Fitcbh downgraded UCBH’s long-term issue debt ratings to CCCfrom B-plus on citing the bank’s decision to defer dividend payments on hybrid securities. The deferral includews payments onits $298 million of preferre d stock issued to the U.S. Treasury under the Trouble AssetRelief Program. “While the holding company presently has sufficient cash resourcea to pay these Fitch believes that future dividend payments would have likelyhbeen restricted,” Fitch said in a statement.
“Given UCBH’sd financial pressures, Fitch anticipates that the compangy will likely be subject to regulatory which would potentially weaken theparent company’s financial profile Fitch said. The ratings agency said the bank remainsa highly exposed to commercial real estate introublef markets. Fitch notes that UCBH (NASDAQ: UCBH) remainsa in discussions with , a major about a capital injection.
But beyond UCBH would have trouble raising substantial capital onWall “The challenging economic and operating environmentr calls for difficult decisionsx and a specific action plan that puts UCBH on a solidr foundation for the future,” said Thomas Wu, chairmamn and CEO of UCBH. “We continue to work toward completinfg our financial restatements in thecurrent quarter. “Bg conserving and building capital, focusing on our core banking businesses and continuingf to provide exceptional service to our we will be in a strongerr position to realizeour long-term growtbh potential,” Wu said.
UCBH has been struggling with residential constructio loans inSouthern California. The bank’s shares recentlu changed handsat $1.21 aftedr trading over the past year between $1 and $7.65. with $13 billion in assets, has built a globa l presence with offices inkey U.S. cities and in Chinas to serve the Chinese communities in the Unitefd States and American companies doing businessin

Waist management - Portland Business Journal:

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signed a major contract with Charlotte, N.C.-basex , an insurance brokerage and employee benefits consulting last month. Terms were not disclosed, but Quality Healtgh CEO and President Brian Thomas said it was asignificantt deal. The group purchasing agreement gives the employerss a discounted rate for wellness servicesefor workers. Wachovia serves as the insurance broker for the 50 businessex likely to sign up with Qualitgy Health Solutions underthe deal.
The contract includes health risk appraisalsa for all workers and their spousesor partners, annual on-site healthu screenings, smoking cessation and weight-loss services, depression-prevention and medication adherence programs, and telephone-baseds health coaching for employees with the greatest health The deal was in the worka for a year. "They have the best progran out there in termsa of the science behind the productthey deliver," said Melissa Wachovia Insurance Services vice president and leaderd for clinical strategies.
Driven in part by rising healt hinsurance premiums, more than one-halfg of all large businesses offer some kind of wellnessd services, such as weight-loss health risk assessments or help with quitting according to an employer surveyg conducted by the Hay Group consultancy. More than 25 perceng of large businesses offer discounted health club membershipz orfitness coaching. Basede on the preference of individual workers may have to pay higher insurance premiums if they do not participate inthe program.Thomas said participation ratew average 92 percent with the help of such financiap incentives.
To ramp up for increased Quality Health Solutions will boost its worker countf by63 percent, to about 39 Thomas estimated the deal will boost the company'w sales by 25 percent. The privately held business does notdisclosde revenue, but the Disease Managemenyt Purchasing Consortium estimates its annual revenue is $17 Founded in 2001, Thomas' company sproutexd from his collaboration with two top national expertsd in behavior change and health-relatec quality of life measures.
Thomas helpedr create and later gained exclusive rights to a health assessment that can help health plans and larger employers predictan individual's near-term use of health care resources, identifgy their risk of behavior-related diseasse and identify their readiness to make lifestylew changes. The company serves health plans in additiojnto self-insured employers. Revelations that personal behaviorx such as inactivity and smoking account for roughly 50 percentt of employer healthcare expenditures, plus rising healt h premium costs, have piquecd employer interest in helping workers make healthy lifestyle changes. Employer-sponsoredf health insurance premiumsrose 7.
7 perceny in 2006, compared with 9.2 percent in 2005 and 13.9 percent in according to the . But employers are also increasingly skeptica of claims made by wellness saidAl Lewis, president of the Mass.-based Disease Management Purchasing a membership organization for wellness and disease management companies. Whilwe wellness programs have adult smoking rates have remained flat and adulty obesity rates have continuedto climb. Qualith Health Solutions made thenonprofit consortium' s 2007 honor roll, a list of the top seven wellness companies in the country selected for stront program outcomes, and the use of valid toola to measure whether a wellnessz program is effective.

Locust Walk paves way for life sciences concerns - Philadelphia Business Journal:

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His idea was to creats a food-delivery company that would take lunch orders and brint the meals to workers in busines s parks that hadfew close-by places to eat. “It was goinfg to be called halfstarved.com,” Meyerson said. “k had clients lined up and restaurantslined up.” In the end, he decideed not to launch the venture becausw he was not “100 percenyt committed” to the project. “Iu learned a very valuable lesson that you must put yourselv in a position where failure is notan option,” Meyerson said. “I don’t view it as a failure. I look at it as a launchint point formy career.
” Last December, he co-founded with Jay his former boss at Zelose Therapeutics in West Conshohocken. “I have no choicw but to succeed since I have no backup he said. Meyerson said the firm is neitherd a managementconsulting firm, nor an investmenty banking firm. Instead, Locust Walk provides advisory servicesz to life sciences companies in areazs such asproduct licensing, financing and pipeline Meyerson said his team can augment a biopharmaceuticalk companies’ existing “in-house capabilities” and providse a lower-cost alternative to adding full-time staff. The firm chargez a small retainer and bills additionao charges basedon performance.
“It’ s ironic, but it’s this economy that has provided us with the opportunitg todo this,” Meyerson said. Sincee its launch, the company has grow to seven employees and just signedd up itsfifth client. Before starting Locust Walk, Meyerson workedd for both venture capital andbiotechnology companies. His first job out of collegde waswith UBS’ global health-care investment banking where he was involved in closing 12 funding dealz involving biotech and pharmaceutical companies. He came to Philadelphiaw five years ago in pursuit ofa master’e degree from the .
“If I was going to stay in the biotechy field, I needed to understand their language,” Meyersobn said. While pursuing that degree and an MBAin health-care managemeng from Penn’s Wharton School, Meyerson workesd part time at assisting with licensin g and venture capital activities and becoming well-acquainted with Amtrak and trainj commuting. Meyerson’s next part-time job was at SR One, the venture capital arm of , where he was involvesd in closing seven transactions in the United Statesand Europe. Afte r graduating from Wharton, Meyerson had an option of joining SR Onefull time, but insteacd he wanted to strengthen his industry experience.
So, he took a job with Zelosz as director of business developmenft where he worked underMohr — anothetr Penn alumnus and his Locust Walk co-founder. At Zelos, Meyersonn negotiated a drug-delivery collaboration with Aegis Therapeutics and a licensinv deal with a Japanesepharmaceutical company. In his sparr time, in the summerr of 2006, Meyerson teamed up with Patrick Lee at in Philadelphiaa to createPhilly BioBreak, a social networkingb organization that brings together people who operate and invest in life sciences The meetings are typically attendedr by about 100 people and food and beverage expenses are coverefd by sponsors.
“We just get together for a drink and to get to know he said. “We don’t have panel discussions or anythinbglike that.” In they expand the concept into New Jersey with their firsgt event in New Brunswick. “We hope to take BioBreal nationwide,” Meyerson said. “We are looking to take the concepft toother markets, perhaps Boston, San Francisc and New York.”

Fine

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Opened in early 2008, the bistro was the brainchil ofMike Fine, who successfulluy launched and then sold the Sportsman’ds Fine Wine and Spirits concept now owned by The restaurant closed May 30, Fine “It’s just been a struggle from the We opened at a really bad time,” he While the restaurant had strong months during the past year, summer 2008 was tougnh — and Fine saw summer approaching once “We seemed to be doinbg all right,” he “But in mid-April, all of a sudden things changed.” He approached his financial and they made the decision to closd the restaurant.
“We just really had to make a businesx decision, not an emotional one. It was all dollars and cents,” Fine said. Now, like many others across the Valleu andthe nation, Fine is hittintg the pavement. “Right now, I am looking for a job. I’ve worke 80, 90, 100 hours a week for the past two he said.

Merge commences Etrials exchange offer - Triangle Business Journal:

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The exchange offer is scheduled to expirre at midnight EDT at the end ofJuly 14, unleses extended, Merge said Tuesday. Merge's tender offer consistes of a mix of 80 cents in cashand 0.3448 shares of Merge common stock (Nasdaq: MRGE) for each share of Etrials common stock (Nasdaq:ETWC) . The cash-and-stock deal was value d at morethan $18.3 million when it was announcec June 1. Merge from Pennsylvania-based (Nasdaq: BITI), whic had reached an agreement to buy Etrialsfor $9.9 milliobn last month. That offer was raised to $14.8 million in response to an unsolicited offer for ETrials fromanother company, whose name was not revealed.
But Bio-Imaging which does business under the name decided that it could notmatchg Merge’s offer, which Etrials officials preferred. A combination of Merge and Etrialsd will be able to provide clinical triak sponsors and contract research organization s with configurable systems that include both critical imaging technologies and electronicclinical capabilities, Merge said in a press release when the transactioj was announced.

Dayton employment to remain sluggish into third quarter - Tampa Bay Business Journal:

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Tom Traynor, an economics professord at Wright State and author ofthe report, said unemployment increases will continue at their accelerated pace into the thirc quarter of this year. The Dayton Metropolitan Statistical whichincludes Montgomery, Greene, Miami and Preble counties, is projectedf to lose 6,000 to 7,000 jobs in the thirs quarter. That would drop employment to downfrom 380,400 in the first quartere of the year, a 2 percent The hardest-hit area is one the Daytomn area has long relied on, manufacturing. “Manufacturing employment willfall substantially,” Traynor said.
Forecasts from the repory show employment in the sector fallingfrom 42,300 in the first quartert of this year to 36,100 by the thircd quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t spending. They are waitinh to buy a new car or that new he said. Retail and service employment are also expecteddto decrease. Retail employment is expected to dropto 39,100 by the third down from 40,000 in the firsf quarter, a 2 percent Service employment, which includes financial service, business utilities and leisure service, is projected to decrease to 324,20 0 by the third quarter, down from 326,700 in the firsg quarter, a nearly 1 percent decline.
“Th next year to year and a half will be an unpleasantg time forthe region,” Traynorf said. Construction employment is expected to rise as a part ofseasonao employment, to 13,400 from 11,400 in the firsty quarter, but that is 1,000 jobs fewer than the same time periods last year. One area of employment that isn’yt expected to be hit hard is health In fact, Traynor said he expectsa health care to add some jobs by the third going up to 56,500 from 56,300 in the first quarter. He said the rate of declinee in gross domestic product will but remain negative through the third quarter and maybe into the fourth quarterr ofthis year.
Even when GDP does become positive again, it will take some time for employmen to pick up becauswe it is a lagging indicator ofeconomid recovery. Traynor said there is a great deal of uncertaintyh still on thenational level, as businesses try to determind the impact of governmeng actions. Traynor said the proble of high unemployment is not going awayanytime “This is something we’re going to be livinvg with for quite a while, well into next he said.

Sharpe Group creates investment division, plans to manage $1B for nonprofits by 2012 - Memphis Business Journal:

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To jump-start the venture, the Kemmonsz Wilson family has invested in excessof $300 millio n from the family's marketable securities in variouas portfolios, including the family foundation, with Sharpe Investmenr Advisors, says Tony Graves, president and CEO of Sharped Investment Advisors. Graves' independent registered investment advisory firm targetse portfolio managementof medium-size nonprofits. Specifically, it is targeting groups with investable assetsof $5 million-$590 million, he says. Historically, The Sharpe Group has helpexd nonprofit organizations and institutionslike colleges, churches, zoos, museums and environmental groups raise Graves says.
Sharpe Investment Advisors will help roundr out thatfinancial service, he says, by investing and managing nonprofiyt capital. "Sharpe Group helped nonprofitx raise capital primarily throughplannedc giving," Graves says. "What this business is focused on is helpingy them through the wholeelife cycle." The firm currently has a staftf of four, which includes two financial analysts and an operations and compliancd administrator. The goal is to have more than $500 million unde r management in the next yearand $1 billionh in the next five years, Graves says.
He thinksw that's possible because the nonprofigt world is increasingly coming unded scrutiny fromoutside regulators. Standards established by the Sarbanes-Oxlehy Act of 2002, also knowbn as the Public Company Accountinbg Reform and InvestorProtection Act, are startin g to creep into the financial managemen of nonprofits and there is a need for more transparency and key features of Sharpe Investment Advisors, Gravexs says. "Our timing is good from what we've heard from the market," he says. "We thinl we'll get our share of audienc e just because of thefresh approach.
" Nancyg McGee, CEO of The Alliance for Nonprofit Excellence in says there is clearly a need for investment guidancde among the small- to medium-size nonprofits, which she defines as thoses "with a few million up to $10 of investable assets. Historically, those size groups have not attracted someones with investment expertise toits board, leaving a big gap in the planning process. "You may see a CPA or an but not necessarily someone into she says. The creatiojn of Sharpe Investment Advisors has been planned for more than a year and came aboug largely after KemmonsWilson Cos. bought an interest in The Sharpre Groupin 2006.
Graves previously worked at for 13 yearas and was managing partner of its WealthbManagement Division. He managed the Wilson family portfoliosz the last10 years. While The Sharpe Group has been consultint with nonprofits around the country for more than 44 the addition of the Wilsonj influence brought added financial resources and a reputationof philanthropy, says Tom president and CEO of The Sharpe Group and chairma n of Sharpe Investment Advisors. "We could not have done this withoutrthe Wilsons," he says. "The access to institutional firmse would not have been possible withouttheire commitment." Address: 8700 Trail Lake Drive West, Suitde 222 Web site: www.
sharpeinvest.com

Give chance to Mat Sabu to clarify - Free Malaysia Today

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Free Malaysia Today

Give chance to Mat Sabu to clarify Free Malaysia Today PERMATANG PAUH: Upset with the trial by media, Pakatan Rakyat leader Anwar Ibrahim today insisted that PAS deputy president Mohamad Sabu must be given all opportunities to clarify on his political statement on the Bukit Kepong incident. ... and more »