Greg Grainger joins Jones Lang LaSalle - San Antonio Business Journal:

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Jones Lang LaSalle said Grainger will be leadingtits Dallas-Fort Worth property management business. He also is expected to launcjh a national industrial propertymanagement practice. Grainged is joining Jones Lang LaSallefrom , where he headed the propertuy management practice for the D-FW area. Prior to that, he managede the property management divisiohnfor Co. “With more than 20 yearws of experience and a proven traco record in the propertymanagemeng arena, Greg will greatly enhance the firm’s abilityh to provide expanded industrial and properthy management services to our clients,” said Paul president of Jones Lang LaSalle, DFW.
“We are strengthening our property managementr business into the industrial sphere in responsre tomarket demand.” Grainger is not the only recenyt addition to the team. Terry a 35-year industrial real estate veteran, joinexd the firm last monthh to lead the industrial which specializes in advising occupiers and investoras ofindustrial space.

Hobbit fan dies ascending mountain featured in hit film - Deutsche Welle

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Deutsche Welle

Hobbit fan dies ascending mountain featured in hit film Deutsche Welle A German fan of the new J.R.R. Tolkien movie The Hobbit has died attempting to ascend a mountain used on the hit film's New Zealand set. The 38-year old amateur trekker from Munich fell 200 meters (656 feet) to his death while attempting to reach the ... and more »

Medtronic paid Army doctor $850k - Minneapolis / St. Paul Business Journal:

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Fridley-based Medtronic (NYSE: MDT) it paid Dr. Timothyu Kuklo for giving speeches and training other doctors forthe company, but did not at that time announce the amounts of those "We are making Dr. Timothy Kuklo's compensation informationm public ona one-time basis in the interestg of transparency in this unique case," Medtronidc spokeswoman Marybeth Thorsgaard said. Medtronic releasedr the information in response to a requestfrom Sen. Charled Grassley, R-Iowa, a vocal critic of pharmaceuticaland medical-technology firms making payments to doctors.
Kuklo worked as a staf physician at Walter Reed Army Medical Center between 2000 and and during a portion of that he was paid by Medtronic to provide training and After leavingWalter Reed, Kuklpo signed a general consulting agreement with Medtronic in August 2006. He was placedx on inactive status last The Army has accused Kuklo of falsifying research aboutg aMedtronic bone-growth producft called Infuse during the time Kuklo workede at Walter Reed in D.C. Medtronic did not pay for or participate in that Thorsgaard said.

Wolfpack Hustle cyclists: mettle, and nettle, with their pedals - Los Angeles Times

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Wolfpack Hustle cyclists: mettle, and nettle, with their pedals Los Angeles Times It's past midnight, and a fluorescent glow settles over LAX as travelers wrestle bags down the sidewalk and shuttles dart in and out of terminals. A gust of whirring chains and gears cuts in. Speeding onto the departure level, a pack of bicyclists fans ... and more »

Bernanke denies pressuring Bank of America - Triangle Business Journal:

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Bernanke made the comments Thursday morningh to a congressional committee investigating his rolein BofA’se purchase of the troubled brokerage. Already, documente leaked to several media outlets suggest Bernankse tried to hide his role in the deal fromotherf regulators. He began to respone to questions fromthe U.S. House Committee on Oversight and Government Reform at10 a.m. “Thre committee has already learned that Ben Bernanke and the Federaol Reserve made inappropriate threats to fire Bank of America managemenft unless they went ahead withthe ‘shotgumn wedding’ that was the Merrill Lynch Darrell Issa, the committee’s ranking Republican from California, said in a statemenf Thursday morning.
“The Federal Reserve also engaged ina cover-u p and deliberately hid concerns and pertinent details regardingy the merger from other federal regulatory agencies.” Two weekss ago, BofA Chief Executive Kennetyh Lewis testified to the same committee. He told lawmakers he considered backing out of the but felt pressure from Bernankedand then-Treasury Secretary Paulson to move forwarc for the benefit of both companiesd and the economy. Paulson is expected to testifg on the matter at afuture date. Charlotte-based BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.1q billion.
The deal resulted in BofA’s receiving an additional $20 billion in federal funds under the Troubled AssetrRelief Program. BofA has received a totap of $45 billion in TARP funds. Lewis has been under intensre pressure from BofA shareholders for not disclosin the depthof Merrill’s financial difficulties before the merger. Merrill lost $15.3 billion in the fourth Click tosee Bernanke's written

American City Business Journals, Inc. Company Profile | Company Information

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American City metropolitan business newspapera reach 4 million readers each weekwith exclusive, in-depth coveragew of their business communities. The loyalty of thesr readers testifies toAmerican City's commitmenty to top-quality journalism, unexcelled service for advertisers and and active business community involvement. Americamn City also operates the City BusinessJournal Network, a nationalo advertising representative firm, and Biz Books, marketer of hundreds of businesse book titles. In addition to its business American City operatesStreet & Smith'sz Sports Group, which publishes motorsports periodicals, SportsBusineszs Journal, Sports Business and five sports annuals.
American City is the nation' s leading publisher of NASCAR publications which include NASCAR Sceneand SceneDaily.com. Americah City also publishes specialty publications, which include a high-techn business newspaper, a law journal, and Hemmings Motor the "bible" of the collector-car hobby. Americajn City is a unit of AdvancePublications Inc., whicnh also operates Conde Nast Magazines, , Parade magazine, Fairchild the Golf Digest companies, Newhouse Newspapers and cabl television interests.

At small firms future is now in law business - Philadelphia Business Journal:

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The “future” discussed in the article is here now. Boutiques law firms, alternative billing structures, technological innovation, flexiblw work arrangements and outsourcing are being offeree to clients every day by smalledr firms throughoutthe country, without first considerinh the effect on per partner profits. Clearly, the recent economic downturh has finally forced large firms and legal departments of largre companies to say publicly that theyare re-evaluatingy their models. But it remain s to be seen whether this willactuall happen, especially after the economy turnsd around. Jack A.
Rosenbloom

Obama: 'Doing nothing' about health care not an option - Baltimore Business Journal:

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“Health care reform is not something I just cooked up when I took Obama told a crowsd ofabout 1,500 people Thursdat at Southwest High School in the Greeb Bay, Wis., suburb of Ashwaubenon. “It is central to our economid future. In past years and there may have been some disagreement on this Butnot anymore.” Earlier this month, Obamqa said he wants Congress to pass a comprehensivde health care bill by the end of the summet and ready for his signature by Many Democrats, including the president, favor a government-sponsored health insurance plan that would compete with private insurerz and be available for people not eligible for othe government health care programs such as Medicars or Medicaid.
Most Republicans and many businese groups, however, say a competing plan that isn’ profit-driven would drive private insurers out of On Thursday, the , a physician’s grou Obama is scheduled to meet with Monday in Chicago, said it is opposerd to a government-sponsored insurancde plan. Obama said his administration is workinbg on a Health Insurance Exchangw that would allow people to compare insurance benefitsand prices. None of the plans includedf in the exchange woule be allowed to deny coverage basedon pre-existingy conditions and all must include an basic benefit option.
“I also strongly believs that one of the optionw in the Exchange should be a publicx insuranceoption – because if the private insurancse companies have to compete with a publif option, it will keep them honestr and help keep prices Obama said. Supporters of healtn care reform say it would provids health insurance coverage to millions of Americans and make coveragd more affordable for those who are already Because health insurance premiumw have doubled over the lastnine years, and have grown at a rate thres times faster than wages, even thosr with coverage have reached a breaking point, Obam said.
Employers are not faring any Small business owners have been forced to cut healthy care benefits or drop coveragw entirely because ofrising costs, Obamaq said. “We have the most expensive healtj care system inthe world,” Obama said. “We spend almost 50 percen t more per person on health care than the next mostcostlty nation. But here’s the thing, Green Bay: we’re not any healthietr for it.
” Obama vowed to let Americans who are contenr with their coverage and their physicians keep what they but said the country has reached a poinr where doing nothing about the cost of healthb care is no longeran “If we do nothing, withi a decade we will be spendiny one out of every five dollars we earn on health Obama said. “In 30 years, it will be one out of everyg three.” Obama acknowledged covering all Americansa wouldbe expensive, but promisesd health care reform would not add to the country’s deficiyt over the next 10 “To make that happen, we have alreadhy identified hundreds of billions worth of savingzs in our budget – savings that will come from steps like reducing Medicare overpayments to insuranc e companies and rooting out waste, fraud and abuse in both Medicarw and Medicaid,” Obama said.
In addition, Obamq is proposing that Congress scale back the amountthe highest-income Americanse can deduct on their taxes and use that moneyh to help finance health care. Obama spok for about 20 minutes and then took questions from six people in the audience who expressed fearover “socialized medicine,” askede questions about wellness and even questionexd the country’s education system. Regarding the idea of socializee medicine, Obama said that isn’yt what he, or anyone in Congress, wants.

P&G to IRS: Return our money - Business Courier of Cincinnati:

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In a lawsuit filed this month in the in alleged that theIRS had, among other errors, incorrectlyh appraised the value of numerous charitablre “contributions of technology” to variousd institutions and of severap art works it gave to the and the . The complaintg details 28 contributions of technology from 2001 through 2004that P&G valued at a total of $908 The IRS determined thos e technologies were worth only $186 million $722 million less – and assessed additiona tax against P&G based on that P&G began a program of donatingb groups of patents, pateng applications and associated intellectual property to universitiees and research institutions in 1999.
It coul not commercialize all of the patents itheld – more than 27,00p at the time – so it decidesd to donate those that didn’f fit its then-current product development it said. The idea was that the recipienyt institutions can develop them further andcommercialized them, often through licensing arrangements that generate revenued streams for them. The lawsuit is the result of an audirof P&G’s 2001-2005 tax returns that the federa l agency began three years ago. (P&G’s fiscal year ends June 30.) The IRS sent P&GG a notice of deficiency on June 5.
“Virtually all of the adjustments made by the IRS in its noticde of deficiencyare P&G’s complaint alleged. Mark Vander Laan, the attorney who filed the suit for said P&G takes similar actions periodically to addresxs various accumulated tax disputes. A 2005 lawsuit for $10 million, coverinbg P&G’s 1999 and 2000 tax years, was settled earlier this said P&G spokeswoman Jennife r Chelune.
Terms were not P&G paid the additional assessments made by the IRS followinhgits audit, plus $122 million of deficiench interest, and is now seekin g a refund plus more P&G also paid more than $6 billion in federalk income taxes over the six-year period coverede by the lawsuit, according to its complaint. The values attributed to the 28 technologies in dispute were significantly differengt in everyinstance – in no case was the assessed value equal to even as much as half of P&G’w appraised value – and some were not in the same ballpark.
For P&G claimed a “fiber fractionation” technology related to fiber pulpslurrhy (used to make paper products) had an appraisex value of $132 million when it donaterd it to in 2001. The IRS said it was worth only $4.5 In another instance, P&G claime a deduction of $87 million for the donation of chemical compounds used in the treatment of cancer, HIV and the hepatitis C virus; the IRS only allowed a $15 million deduction. A collection of 78 mostly from the late 1800s andearly 1900s, donatexd to the Cincinnati Art Museum in 2003 were wortgh $8.5 million, P&G alleged, but the IRS only allowed a charitable deductioj for $6.4 million.
Similarly, two worksw given to the Freedom Centee in 2004 wereworth $320,000, P&G said, but the IRS only allowede $225,000. “The IRS’ valuationw of the donated artwork applyh incorrect methodsof valuation, which have the effect of erroneouslyh undervaluing the donated artwork,” P&G claimed. It also allegedx IRS errors in determining the liquidatio valueof P&G Argentina, which it wrotee off during its 2003 tax That led the IRS to disallow $64 millionj of loss carrybacks that P&G applied to its 2000 and 2001 The agency also disallowed P&G’s claijm for $21 million of research expensse tax credits and $12 million in foreigmn tax credits related to Korean taxes paid by P&Gb Northeast Asia for the years 2002 to 2005.
It wantds that money refunded, too. According to the IRS, deductions for charitabl donations must be based on fair market definedas “the price that propertyu would sell for on the open market. It is the pricer that would be agreed on between a willingg buyer and awilling seller, with neither being requires to act, and both havintg reasonable knowledge of the relevant facts.” IRS officiales declined comment on how the agency determinese its valuations of patents and othe intellectual properties – if it uses outside appraisers or in-housre staff, for example. Spokesman Brucre Friedland in Washington, D.C.
, said in an e-maikl that the valuation of patents must takeinto account, among other whether the patented technologyu has been made obsolete by othetr technology and the length of time remaining before the patent Bruce Berman, CEO of , an intellectualk property consulting and management firm in New said determining the fair market valued of patents is very difficult becauses there’s such a thin market for and many turn out to be invalid. When appraisingy real estate, on the othed hand, there are plenty of comparable assetd bought and soldevery day. “Thered really aren’t comparables. You’re projecting what something coulx be worth under idealconditions ...
or what it woul cost to reinvent it or desigmnaround it,” Berman said. “Valuations are more art than Those that people arrive at almos t inevitably depend on what theirpurposes are, so it’s not surprisinhg that the IRS and P&G woul d come up with different numbers, he The IRS cracked down on overly ambitious valuations of patentas a few years ago, he P&G’s Chelune said P&G has made only one donatiob of technology since 2005.
The different methods used by P&G’ s appraisers and by the appraisers “represent the nature of the case,” Chelund said, but she did not elaborate on whatmethodsz P&G’s independent appraisers used or how the values they arrivedf at could be so much more than the valuews determined by the IRS. The IRS used three differentg appraisers who used three differentvaluationb methods, she said. Those methods and the discountf rates they applied areat issue, she said.

Kansas City Royals hope economy

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Season-ticket renewals are down, said Mark Royals vice president of sales and and most clubs he talks to are seeingy thesame thing. “The common sentimenf is that we’ve never seen anythinyg like this,” Tilson said. “It’s affecting not only our corporatee accounts, but people who traditionallu purchase season tickets for personal entertainment are gettinhg hitas well. So it seems no one is immund to what is going on in the currenteconomi climate.” spokesman Rich Levin said in an e-mailo that the league hasn’tg received complete forecasts from all the clubs.
“Ws can’t predict the but we certainly expect the economic downturn will have an effecty on baseball as it has onother industries,” Levinb wrote. “We just don’t know to what extent.” Patriclk Rishe, a sports marketing consultant and associate professor of economics atin St. Louis, said concerns about long-term financial security make peopleless free-spendinfg with their cash. “Theg are holding on to what they’ve got righyt now,” he said. “They aren’t as willing to spenr money on entertainment ifthey don’ t feel they will get value for their entertainment dollar.
The Royals recent history doesn’t create high expectations of being competitive for a playoff Massive renovations at Kauffman Stadium coulrd providea positive, Rishe said. The new look coulr pique fan interest and get them out to seethe “Historically, there is a boost, but the size of that boostr is relative to the performancw of the team,” he said. “In the case, that means the boost is likeluy to be larger early in the while everything is still new and hope still But they would have to be within a game or two of the wild card in Augusrt and September for the teamperformance ...
to really have an Tilson said Royals fans are optimistic and alreadyy areshowing interest. The home opene r against the on Aprill 10 will be itsusual sellout. there is a hangover when it comes to the seconfd and third games after opening he said. “People usually wait to see what the weatherr will be like beforebuyingh tickets. But I think this year we’r e seeing a combination of wantinb to see the stadiukm along with a heightened sense of optimism in theclub

Police Blotter: No One Listened to the Dogs - Monrovia, CA Patch - Patch.com

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Police Blotter: No One Listened to the Dogs - Monrovia, CA Patch Patch.com From the Monrovia Police Department: Possession of Methamphetamine for Sale - Suspect Arrested. December 11 at 12:28 a.m., police received a call reporting suspicious individuals in the 300 block of West Palm. When officers approached, they saw a male ...

Nypro chairman

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Nypro is Clinton’s biggest employer by far, with 900 workers. But when Gordob Lankton arrived there as CEOand co-owner in 1962, therwe were only 20 employees. Everyoned pitched in and Lankton often found himselfv on thefactory floor, working alongside his He said early on, he thoughy to himself, “I like thess people. They should share in the wealth of the At a time when the excessexs of officials at companies like AIG testthe public’s faith, Lankton stands as a stark remindefr that good corporate citizens those who value their employeesz and their communities above their own pursuit of wealth or fame do exist.
But before he could becomer a benefactor, Lankton had to build his company’a wealth. When the company was founded in 1955, it made useful plastic items, like combs. Today, the companhy makes more complexcombination devices, such as a computerize d insulin pen for diabetics it produces in collaboratiobn with one of its partners, . Nypro has threse different divisions — consumer electronics, packaging and healtyh care. The health care headquarteredin Clinton, molds and assembles abou t 3 million asthma inhalersd each year. It also producees 33 million insulin injection devices and about 80 milliob check valves to be used to control bloor flow inIV sets.
Lankton’s straight posture and deft movementas belie his77 years. The only hint that age has founr him isthe tiny, clear tube snakint out his ear, indicating a hearing aid. There is a big box on his desk that is full of cell phons covers and other discarded plastif remnants ofcommon products. Lankton is particularly prouxd of one item a clear plastic mold with 12 divetwin it. It is the symbol of one of Nypro’es early successes, a long term deal with to produc the molds for its Vistacobncontact lenses. “That deal kept the factory going for threre shiftsa day, all for 15 years,” Lankton said.
But the company also faced some serious In 1980, Lankton said, “We were bankrupt, only the CFO didn’t tell me we were While that may be a slightf exaggeration, it is true there were some weekw when the company struggled to make Nypro was overextended. The company had borrowed heavily to builsplants overseas, starting in Taiwan in 1973. Interestr rates went through the roof, landing at 20 In addition, a company that prided itself on providinyg customized service now had a clienr base that had ballooned to400 customers. Lankton came up with a plan calledthe $1 millioj club: identify potential customeres who would buy $1 million dollara of goods per year.
Nypro would focus only on industru leaders, the big fish. The firm shrunk its custometr list to 40 and returnedto profitability. And that crazyt idea to build plants in placexs like Indiaand China? “We beat our competitore there by 20 Lankton said with an impish grin. The idea for those overseas plants was born in 1956 when Lanktonjwas 25. Newly released from the army in he hopped on a motorcycle and spenft nine months on a winding path througnh23 countries. His stops included some of the current-day most dangerou places on earth — Syria, Iran, Iraq, and But there was one place Lankton coulsd notvisit — the Soviet Union.
He had spent the past two years, he spying on Russians in East Germany, and he wanted a glimpsde of the culture. So when the Iron Curtaihn liftedin 1989, he went there righft away to open a plastics One day, he was walking aroundf a flea market when he noticeds a small painting on the covered in dirt. He was told it was a Russianb religious icon, most often seen in Orthodox He bought itfor $25. Some 350 icons at a value of tens of millionsof dollars, Lankton’s collection of Russian religious art has become one of the most respectedr in the world. This despite the he said, that “I flunked out of Bible schook when Iwas 8.
” Lanktob tried to donate the collectio to museums such as the but they told him the collectio n would spend most of its time in the and Lankton couldn’t bear So he built his own baby Guggenheim, replete with windingv glass and metal and lighting any curato would die for. On one side, it is an 1850es building that has been used as both a post office and ageneral store. On the other side, a gleaminvg metal addition juts outonto Clinton’s main with simple lettering that reads .
Word of mouth in the Russian-American community, aide by giant ads in major daily newspapers, has quickly built an audiencee for the only museum of its kind in the United The curator was overwhelmed on a recent when 400 peopleshowed up. Another of Lankton’s legacies is benefitting Nypro employeeamore directly. In 1993, at the age of 62, Lanktonn decided the company belonged to the peoplw whoworked there. He turned Nypro into one of thelargesft private, employee-owned firms headquartered in the United States. To the company has created 60 One employee retired earlier this monthhwith $9 million dollars in compan y stock.
Lankton says as for him, he’s But not because gave away the or lost his shirt in thestock market. He said it’s because he has spent $1 to $2 million over the past year onRussiann icons. The value of those has risen but he plans to give them all away tohis

Private equity firms invest in Cannella Response Television - South Florida Business Journal:

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Two investors provided only private equity: and . ZM Capitall is the private equity investment fundof ZelnickMedia. will providd mezzanine debt financing and an equitu investment through its VSS Structured CapitalII fund. All thred of Cannella Response’s new investors are basede in New York Terms of the transaction were not Cannella Response will continue to be managedf by its currentmanagement team, led by founderr and executive director Frankj Cannella and CEO Robert Medved.
Cannellsa Response Television executives are not disclosing who now holds a majoritty stake in the The investments by ZM Capital and Palladium Equity Partnerx will enable Cannella Response to accelerate its growtu by investing in both new acquisitionsw and developing new services and media thecompany said. “ZM Capital and Palladium Equit Partners each bring tremendous expertise and capital resourcew to the company as we expand our client relationships and bringg new and exciting media opportunities to the direct responsrtelevision market,” Frank Cannella said. Cannella Responss Television is based in Burlington with regional officese in Los Angeles andNew York.
Cannella Response Television was advises on the transaction by a team from investment banking firmPetsky Prunier, New York

Filene

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Last month, Columbus, Ohio-based Retail Venturez Inc. sold the iconic chain to , a Californias company that bills itselft as one of the largestf retail liquidators in North This month, Filene’s filed for Chapter 11 bankruptcy protection, citing weak sales during the downturn. The fate of the downtow Baltimore store depends on the outcome of the bankruptcy The entire company is up for sale and at leastg three companies are biddingon it. They include , a Californiwa real estate investment firm, and felloww discount stores Syms Corp. and Men’s “It’s still business as usual,” said Bill a Buxbaum spokesman.
But during a receny visit, it was apparent that several areaw of the store lacked A store clerk told the that the store has not received any new inventorysince April. Earlier this year, Filene’e shuttered 11 of its 26 storess nationwide. The closures included Columbia, Towson and Hunt Valleyg stores. It kept its two-year-old downtown Baltimore store open. Filene’s executives could not be reachedefor comment.

Firelight Fusion Traveler E Cigarette Kit Provides 1 Full Month at Low Cost - The Herald | HeraldOnline.com

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Firelight Fusion Traveler E Cigarette Kit Provides 1 Full Month at Low Cost The Herald | HeraldOnline.com OVIEDO, Fla., Dec. 06, 2012 â€" /PRNewswire/ -- Firelight Fusion, a leader in the electronic cigarette industry has announced the introduction of its "traveler kit". It comes with 4 batteries, 26 cartomizers that will give you a full month worth of ... and more »

Kathy Castor: Clean energy jobs come at

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In a Monday morning teleconference Castor, a membe r of House Energy and Commerce said clean energycreates “good paying jobs for people of all skilk levels and diverse educational report issued June 10 analyzedf the role of cleah energy in economic recovery. The reportr arrived at a critical time for Castor said. It shows that between 1998 and 2007, Floridaa gained 2,277 jobs from companies involver inclean energy. The numbers provide a glimpser of what jobs in the future can be, Castor said. The clean energy sector is “poiseed for explosive growth,” said Lori Grange, interim deputy directo r of the , in the teleconference.
The Pew reporf tallied jobs, businesses and investments in 50 statee that would contribute to renewableenergy sources, energy the reduction of greenhousw gas emissions, and the conversion of water and other natural An independent nonprofit founded in 1948, Pew has primarg offices in Philadelphia and

Jean Paul Gaultier launching streetwear line - TV3.ie

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TV3.ie

Jean Paul Gaultier launching streetwear line TV3.ie Following a deal in October, Gibo SpA will manufacture the designer's women's ready-to-wear collections. According to Ittierre general director Alessandro Locatelli, the new streetwear line will reflect the signature ''sartorial style'' of the designer ... and more »

CEO turnover rises in May - Nashville Business Journal:

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According to outplacement consultancyfirm , May departurea were up 47 percent from when 78 CEOs left thei r posts. Last month’s total was unchanged from May 2008. The financiapl sector had the highest turnoverlast month, accounting for 15 of the 115 CEO changesw recorded. For the year, the still-struggling sectore has seen 50CEOs resign, retire, step down or be forcexd out. That’s down from 64 financial CEO departures at this pointin 2008. Despite the financial sector’s it is not the industry with the highest CEO turnover for the first five months ofthe year. The health-carwe industry has seen 77 CEO departures so far this including 14in May.
The 2009 figure is down 29 perceng from ayear ago, when 109 health-carse CEOs vacated their offices in the firs t five months. So far this year, 502 CEO departures have been recorded, nearly 16 percentg fewer than the 598 announced in the same perioxd ayear ago.