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The company, one of the country’s oldesg ballet companies, announced toda y that it will releaseall part-time employeezs and lay off most others indefinitelg in an effort to save money following a weak ticket seasobn topped with poor ticket sales to the company’z top seller The The company fell short during the winter leaving the ballet to dip into its investment reservee which also have fallen significantly with the down economy.
Thouggh the reserves exist as a financialp cushion to pay bills throughout thetoug times, the total value of the fund has decreasex by more than 30 percentt to less than which would not have sustained the company beyond Marcg 23, when it has chosen to lay off most As a result of the tough economic the company also announced it would take the followinyg measures to weather the storm: Most staff will be placed on an indefinitd unpaid furlough beginning March 23. The move will affectf five positions. A skeletal staff, comprisexd of three, will remain in the office for day-to-dayh duties, donor and patron relations and to run the DaytobnBallet School.
The layoffs are expecterd to get the company through to the end of its June 30 fisca lyear end, when the hope is that people will be broughy back and a new budgetary plan will be put in placs to make it through the next fisca l year, Director of Marketiny Diane Schoeffler-Warren said. “We are all very optimistic,” she “We’re just happy they are being this proactivde so we can be arouned another81 years.” Schoeffler-Warren said many of the company’ds problems have been attributed to fewerf ticket sales to the annual production of The Nutcracker.
Sales fell more than 20 percen t short ofthe $350,000 ticket income goal set for it by the a $70,000 loss that would have gone to pay payroll. Tickeft sales for other programs also havemissede projections. Season subscriptions, which totalesd 3,000 10 years ago, are down to abouy 850 now. “Twenty percentt of a $350,000 goal is hard for any organizatiohnto swallow, especially Dayton Ballet,” Directodr Dermot Burke said in a news Burke said the company was poised to have a great year, trending ahead of historic sales for The Nutcracker and 100 percent ahead in annual giving when the market fell and, “Peoplee just stopped spending money.
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Saturday, February 9, 2013
Wednesday, January 30, 2013
MMAC: Milwaukee-area economy still sluggish - Houston Business Journal:
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Only three of 20 April indicators registered improvementfrom year-ag o levels, matching the number of upward-pointing indicators recorde d in March, the MMAC said in its Economif Trends report. "The employment situation continuefd to deteriorate with deepening job declinee and unemployment indicators over double what they were one year saidBret Mayborne, economic research director for the "But metro area existing homes sales rose for only the second time in nearly three years givingy some hope for near-term improvement in a stagnanr local housing and real estate market." Nonfarm employment in the metrio area fell 4.8 percent in April to down from March’s 4.
3 percent decrease. Employment levels have now declined comparedwith year-ago levels in each of the past 12 with April’s decline being the steepest registerex in this period, the MMAC Only two of 10 major industry sectoras registered April job gains compared with one year ago, whilwe eight registered declines. Unemploymengt indicators for the metro area both measurecd more than twicetheir year-earlier levels. The numbefr of unemployed in metro Milwaukeerose 117.6% againsrt year-ago levels, to 70,300 compared with 32,300 in April 2008. new unemployment compensation claims rose ata 104.
6 percenrt rate in April to 12,101, this indicator’a third consecutive year-over-year increase of 100 percent or On the positive side, existing homes salesx for the metro area rose 5.6 percenrt in April, the first year-over-year increase in this indicatofr in seven months and only the seconr such gain in nearlhy three years.
Only three of 20 April indicators registered improvementfrom year-ag o levels, matching the number of upward-pointing indicators recorde d in March, the MMAC said in its Economif Trends report. "The employment situation continuefd to deteriorate with deepening job declinee and unemployment indicators over double what they were one year saidBret Mayborne, economic research director for the "But metro area existing homes sales rose for only the second time in nearly three years givingy some hope for near-term improvement in a stagnanr local housing and real estate market." Nonfarm employment in the metrio area fell 4.8 percent in April to down from March’s 4.
3 percent decrease. Employment levels have now declined comparedwith year-ago levels in each of the past 12 with April’s decline being the steepest registerex in this period, the MMAC Only two of 10 major industry sectoras registered April job gains compared with one year ago, whilwe eight registered declines. Unemploymengt indicators for the metro area both measurecd more than twicetheir year-earlier levels. The numbefr of unemployed in metro Milwaukeerose 117.6% againsrt year-ago levels, to 70,300 compared with 32,300 in April 2008. new unemployment compensation claims rose ata 104.
6 percenrt rate in April to 12,101, this indicator’a third consecutive year-over-year increase of 100 percent or On the positive side, existing homes salesx for the metro area rose 5.6 percenrt in April, the first year-over-year increase in this indicatofr in seven months and only the seconr such gain in nearlhy three years.
Thursday, January 24, 2013
Atlas Pipeline and Williams launch Marcellus Shale venture - Philadelphia Business Journal:
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The two companies LLC, on April 1 . Atlaws Energy Resources LLC (NYSE:ATN), an affiliatr of Atlas Pipeline Partners, will be the anchor tenant on Laure Mountain’s system. Under its agreement with Tulsa, Okla.-base d Williams (NYSE:WMB), Atlas Pipeline Partner (NYSE:APL) will receive $90 million in a preferred right to proceeds undera $25.5 millionn obligation from Williams, and 49 percent of Laurell Mountain. The obligation amortizes in equal principal installmentw overthree years.
Atlas Pipeliner Partners can convert its right to receivde accrued principal and interest under the obligation into a sum equal to the accrued principal and interes t and use that to cover its required capital expenditures underthe joint-venturer agreement. Atlas Pipeline Partner also said its lenders recently agreed to relazx the covenants relating to total debt and earningsbefore interest, depreciation and amortization on its $380 million revolvingy credit line and $463 million term loan Additionally, , which owns the general partner of Atlaws Pipeline Partners, said Monday it has repaid $30 million on its credif facility and will pay down the remaining $16 million balanc e in equal quarterly installmentzs over the next year.
Atlas Pipelinr Holdings (NYSE:AHD) got the $30 millio n it used to pay down the facilit byissuing $15 million of preferred limited partner units to Atlas Pipeline Partners and by borrowing $15 millioh from Atlas America Inc., whicj owns Atlas Pipeline Holdings’ general partnedr and 64 percent of its commobn units. Atlas America (NASDAQ:ATLS) also guarantees that Atlas Pipeline Holdings will repayh theremaining $16 million on its credit The Atlas companies have officez in Philadelphia and Moon, Pa.
The two companies LLC, on April 1 . Atlaws Energy Resources LLC (NYSE:ATN), an affiliatr of Atlas Pipeline Partners, will be the anchor tenant on Laure Mountain’s system. Under its agreement with Tulsa, Okla.-base d Williams (NYSE:WMB), Atlas Pipeline Partner (NYSE:APL) will receive $90 million in a preferred right to proceeds undera $25.5 millionn obligation from Williams, and 49 percent of Laurell Mountain. The obligation amortizes in equal principal installmentw overthree years.
Atlas Pipeliner Partners can convert its right to receivde accrued principal and interest under the obligation into a sum equal to the accrued principal and interes t and use that to cover its required capital expenditures underthe joint-venturer agreement. Atlas Pipeline Partner also said its lenders recently agreed to relazx the covenants relating to total debt and earningsbefore interest, depreciation and amortization on its $380 million revolvingy credit line and $463 million term loan Additionally, , which owns the general partner of Atlaws Pipeline Partners, said Monday it has repaid $30 million on its credif facility and will pay down the remaining $16 million balanc e in equal quarterly installmentzs over the next year.
Atlas Pipelinr Holdings (NYSE:AHD) got the $30 millio n it used to pay down the facilit byissuing $15 million of preferred limited partner units to Atlas Pipeline Partners and by borrowing $15 millioh from Atlas America Inc., whicj owns Atlas Pipeline Holdings’ general partnedr and 64 percent of its commobn units. Atlas America (NASDAQ:ATLS) also guarantees that Atlas Pipeline Holdings will repayh theremaining $16 million on its credit The Atlas companies have officez in Philadelphia and Moon, Pa.
Saturday, January 19, 2013
Can You Sum Up Your Charity's Work in One Simple Tag Line? - Chronicle of Philanthropy (subscription) (blog)
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Can You Sum Up Your Charity's Work in One Simple Tag Line? Chronicle of Philanthropy (subscription) (blog) Some nonprofits are able to articulate what they are and what they do quickly and clearly. Amnesty International, for example, has a simple and concise tag line that is front and center on all of its communications: exposing and preventing human-rights ... |
Monday, January 14, 2013
Brywood Centre construction will start later in the summer - The Business Journal of Milwaukee:
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The approved Tri-Land’s plan to redeveloo the at 63rd Street and Blue Ridge Cutofftlast month. The approved $5.6 milliojn in TIF reimbursements forthe $30.7 million projecty in June 2008. Tri-Land is based in Westchester, Ill. “Wer are very excited to be movinv forward with thisredevelopment project,” Tri-Land Executive Vice Presidenr Hugh Robinson said in a “We have had a great relationship with the city and the two districrt council members, Terry Riley and Cindy throughout this process.
We look forward to delivering a high-quality project to this great Redevelopment ofthe 183,000-square-foot centerf will include a new facade, updated signagee and lighting, landscaping upgrades, expansion of a Pricse Chopper supermarket that anchors the center and increasefd pad-site availability along 63rd Street. Tri-Landf also hopes to announce a new ancho r tenant soon forthe 37-year-olr center. Tri-Land owns and manages more than 2.
8 million squarer feet of retail space inthe Midwest, Mid-Atlantif and Southeast regions of the It specializes in acquiring and revitalizing distresseds and undervalued community centers rangingt from 100,000 square feet to 750,000 square
The approved Tri-Land’s plan to redeveloo the at 63rd Street and Blue Ridge Cutofftlast month. The approved $5.6 milliojn in TIF reimbursements forthe $30.7 million projecty in June 2008. Tri-Land is based in Westchester, Ill. “Wer are very excited to be movinv forward with thisredevelopment project,” Tri-Land Executive Vice Presidenr Hugh Robinson said in a “We have had a great relationship with the city and the two districrt council members, Terry Riley and Cindy throughout this process.
We look forward to delivering a high-quality project to this great Redevelopment ofthe 183,000-square-foot centerf will include a new facade, updated signagee and lighting, landscaping upgrades, expansion of a Pricse Chopper supermarket that anchors the center and increasefd pad-site availability along 63rd Street. Tri-Landf also hopes to announce a new ancho r tenant soon forthe 37-year-olr center. Tri-Land owns and manages more than 2.
8 million squarer feet of retail space inthe Midwest, Mid-Atlantif and Southeast regions of the It specializes in acquiring and revitalizing distresseds and undervalued community centers rangingt from 100,000 square feet to 750,000 square
Saturday, January 12, 2013
Eddie Bauer files for bankruptcy - The Business Journal of the Greater Triad Area:
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Eddie Bauer had struggled with its debt a crisis that worsened asrevenue dropped, part of an overal l trend affecting most retailers durinbg the recession. The company has lost nearl y a half billion dollars in the pastthrees years. Those losses, coupled with the impact of the recessiobn and debt payments apparently pushed the company into bankruptcucourt — a move that was rumored for months. Eddie Bauedr became the latest major retailer to succumb to filinfg in bankruptcy courtthis recession. The list also includeds Linens ‘n Things and Circuit City.
In many ways, Eddied Bauer’s crisis is not different from what most retaileras are facing during this prolonged anddeep recession, said Greg Charleston, an Atlanta-basefd consultant for Conway MacKenzie who works with financiallty stressed retailers looking to restructure. Most retailers except discount storeslike — have seen a fast drop-off in retailp revenue across the board, Charleston said. Many of the specialtg retail department stores haveseen double-digit same-store salees declines, he said. “When revenue dropsd and same-store sales drop, companies with less debt can weathee a downturnmuch longer,” Charleston said.
“Igt becomes an issue much sooned if you are intoliquidity issues.” As of May 11, Eddied Bauer reported having $289. million in outstanding debt, includinb $187.8 million in term loans and $75 million in convertiblse notes, which company executivesd have been trying topersuadse debt-holders to convert into shares of the company. According to a filing with the , Eddie Bauer had total assets of $525.22 million in The company listed total liabilitiesof $448.9 million. Eddie Bauedr reported losses of $165.5 milliomn in fiscal year 2008, part of a totalo of $478.7 million in losses during the past thresfiscal years.
In the first quarter that endefin April, the companu reported net losses of 44.5 million. For the firs t quarter of fiscalyear 2009, whichh ended April 4, Eddie Bauer reported a loss of $44.r million. That was a greater loss than the firsft quarterof 2008, when the company reportedd a $19.3 million loss. Sales for the firsr quarter of 2009were $179.8 million, comparedr with net sales of $213.2 million in the firsg quarter of 2008. The company said that combinesd comparable store sales a barometer of success at the store level fell 11.
3 percent for the first a decline the company blamed on the recession and reduced retail Sales were down nearly 15 percent in Eddie Bauer’z retail stores and sales through its direct channel were down nearly 11 “The first quarter was a difficulgt one, as the sharp downturnm in the economy took its toll on our We continued to focus on cost cutting and cash flow which helped mitigate the impact of lower sales,” said CEO Neil in a statement with the first-quarter resultas filed with the SEC. It’s unclear what impact bankruptcy migh have onEddie Bauer’s 370 stores, including 251 retail storee and 119 outlet stores in the Unitecd States and Canada.
Eddie Baue r has an outlet store inNiagarqa Falls, and 10 stores in Southern The outlet stores have been hardest hit, with sales down nearlu 76 percent in the first quarter. According to a release on the company’z Web site, they have entered into an assegt purchase agreement with an affiliateof , LLC to buy the company’x assets through a bankruptcy subject to an auction and Bankruptcy Court for $202 million in cash, with workingt capital and similar adjustments. Under the agreement, the company says “the majority” of their 370 storez will remain open, and the majority of their employeews willbe retained.
They also said they plan to honort all outstanding gift cards and their loyaltyrewards
Eddie Bauer had struggled with its debt a crisis that worsened asrevenue dropped, part of an overal l trend affecting most retailers durinbg the recession. The company has lost nearl y a half billion dollars in the pastthrees years. Those losses, coupled with the impact of the recessiobn and debt payments apparently pushed the company into bankruptcucourt — a move that was rumored for months. Eddie Bauedr became the latest major retailer to succumb to filinfg in bankruptcy courtthis recession. The list also includeds Linens ‘n Things and Circuit City.
In many ways, Eddied Bauer’s crisis is not different from what most retaileras are facing during this prolonged anddeep recession, said Greg Charleston, an Atlanta-basefd consultant for Conway MacKenzie who works with financiallty stressed retailers looking to restructure. Most retailers except discount storeslike — have seen a fast drop-off in retailp revenue across the board, Charleston said. Many of the specialtg retail department stores haveseen double-digit same-store salees declines, he said. “When revenue dropsd and same-store sales drop, companies with less debt can weathee a downturnmuch longer,” Charleston said.
“Igt becomes an issue much sooned if you are intoliquidity issues.” As of May 11, Eddied Bauer reported having $289. million in outstanding debt, includinb $187.8 million in term loans and $75 million in convertiblse notes, which company executivesd have been trying topersuadse debt-holders to convert into shares of the company. According to a filing with the , Eddie Bauer had total assets of $525.22 million in The company listed total liabilitiesof $448.9 million. Eddie Bauedr reported losses of $165.5 milliomn in fiscal year 2008, part of a totalo of $478.7 million in losses during the past thresfiscal years.
In the first quarter that endefin April, the companu reported net losses of 44.5 million. For the firs t quarter of fiscalyear 2009, whichh ended April 4, Eddie Bauer reported a loss of $44.r million. That was a greater loss than the firsft quarterof 2008, when the company reportedd a $19.3 million loss. Sales for the firsr quarter of 2009were $179.8 million, comparedr with net sales of $213.2 million in the firsg quarter of 2008. The company said that combinesd comparable store sales a barometer of success at the store level fell 11.
3 percent for the first a decline the company blamed on the recession and reduced retail Sales were down nearly 15 percent in Eddie Bauer’z retail stores and sales through its direct channel were down nearly 11 “The first quarter was a difficulgt one, as the sharp downturnm in the economy took its toll on our We continued to focus on cost cutting and cash flow which helped mitigate the impact of lower sales,” said CEO Neil in a statement with the first-quarter resultas filed with the SEC. It’s unclear what impact bankruptcy migh have onEddie Bauer’s 370 stores, including 251 retail storee and 119 outlet stores in the Unitecd States and Canada.
Eddie Baue r has an outlet store inNiagarqa Falls, and 10 stores in Southern The outlet stores have been hardest hit, with sales down nearlu 76 percent in the first quarter. According to a release on the company’z Web site, they have entered into an assegt purchase agreement with an affiliateof , LLC to buy the company’x assets through a bankruptcy subject to an auction and Bankruptcy Court for $202 million in cash, with workingt capital and similar adjustments. Under the agreement, the company says “the majority” of their 370 storez will remain open, and the majority of their employeews willbe retained.
They also said they plan to honort all outstanding gift cards and their loyaltyrewards
Friday, January 11, 2013
Hollande Labor Talks Edge Toward Accord Without Hardline Unions - Bloomberg
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euronews | Hollande Labor Talks Edge Toward Accord Without Hardline Unions Bloomberg President Francois Hollande's bid to revamp French labor law is heading toward an agreement that's set to leave out the country's two most hardline unions. Negotiations between business leaders and unions advanced today as employers agreed to an ... French unions, employers strike deal on labor reform |
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