Consider other financing during loan drought - bizjournals:

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One very old but underused optiojnis factoring, or accounts receivable financing, whers a third party buys a company’s outstandinv invoices or receivables. “Accountes receivable financing isn’t a loan,” said Chad regional vice presidentwith A/R Funding. “Whenever a company creates an A/R Funding purchases that invoice and advances the money to thecompany immediately, which helps theif cash flow.
” Businesses can then use that cash to covere cash flow shortages or to finance “It doesn’t have to be a big company, as long as your compan is doing business with creditworthy customer [according to] , and we have a few other group s we use to look at that and we establish creditt limits,” Todd said. “We actually have a 90-day agreement that you can terminate at any without fees. We only have one fee, whichg is the fee on our money; it’z less than 2 percent for the face amoung ofthe invoice.
” After trying traditional banks and crediyt unions, Adam Hoyles, vice president of operationx for , said it turned to A/R “For whatever reason,” traditionapl lenders “weren’t interested in doing a business line of Hoyles said. “We were growingb and our operations were increasing in both speesdand intensity, and it was more and more difficult to keep running. “Clients would go 30 to 60 days topay us, but when you send someone in the field, you still have the same payroll.
The businesds still has to run whilr you are waiting to get When I look at my ability to predictg cash flow on a regular the fee is absolutely worth Another fundingsource that’s wortg looking into is the ’s America’s Recovery Capital loans. Beginning June 15, the SBA will startt guaranteeingthe loans, up to a maximum of “It’s an unusual The SBA is paying the interest,” said Ralph deputy director of SBA’s Nortu Florida district office. “We have never done it quite thisway before.
The bank will disburse the loanand we’ll start making monthly interest payments on the loan straight to the Plus, we guarantee 100 percent of the principal for the The SBA is still drawinb up guidelines for the loan, but Ross said it estimate the program could provide for as many as 10,000 The loan program is designed to help businesses that are strugglinyg due to the anemic economy. “Thwe idea is it’s just somethinhg that a company can use to help pay its Ross said. “There is still going to be a creditg test; we want to make sure they areviablre companies.
” Chris Rodatz, vice president/SBA lendef at , has already had a numbef of clients call to learn more abou the program. “They say, ‘We couls sure use it. I need to buy inventory,’ or, ‘I’j falling behind on my obligations,’ Rodatz said. For any business that’s investigating the ARC loan program, now is the time to “First, they need to contact their bank to make sure the bank is goinvg to participate in the Rodatz said. “Then be prepared to have an updateds tax return and personal financestatements — the basic prequalification materials.
” Another new SBA fundingg option in the works specificallh targets vehicle dealers and will allow lenders to provide lines of credit through the 7(a) program for titled inventory. “Dealeer floor-planning is something we traditionallyu haven’t been involved in,” Ross “We raised the size to allow dealers thatnormally don’t qualify for 7(a) “And the new program will help us finance the inventory on the showroom floor. Any property that has a title can That’s a very interesting, new product.
Obviously, there’ s a lot of distress in the auto industr y andrelated industries, such as RVs and and we are hoping to help out with

Monday's the last day for Denver's free building-permit offer - Denver Business Journal:

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The program aims to boost the local economy byencouraging home-improvement Through Thursday, Denverites had pulled 811 free building permits for $3,804,3700 in home-improvement construction, officials said Friday. The free permits issued unde the city’s “Home Renovation Bonanza” program through Thursdagy have savedresidents $53,648. An average of 90 permits have been pulles each day during the free versus an average of 40 a dayin May, the city The free building permits can be obtainedf Monday weekdays from 7:30 a.m. to 4 p.m. at the permif counter on the second floor of the Webb Municipal 201 W. Colfax Ave. Go to the yellosw "quick permits" flag.
The free permits are for commom improvement projectsinvolving single-family homes and They are valid for 180 days. Permits are beingf issued on the spot to homeownerx ortheir contractors. Building-permit fees normally range from $20 to severa l thousand dollars, depending on the value of the Basic interiorremodel (existing kitchen, bath or bedroom). Basementy remodel. Roof covering repair or replacement. Wall insulation. Replacemeng of water heaters. Change out centra l heating and air. Photo-voltaic systems (sola r panels). Stucco or siding home exteriors.
Not eligible are projectx that require detailed plan suchas new-home construction, garages and new structures such as a Projects requiring plan review for engineering and structuralo modifications are also excluded. Building permits require that inspectionws be performed to verify work was done correctly and followsx buildingcode standards. Building permits requird that inspections be performes to verify work was done correctl y and follows buildingcode standards. Permits also protecft the resaleof homes. For a sale may be held up because an improvemen t such as a basementremodel wasn’t done with the propetr permits. For more visit . 1.
If a re-roof permit requires engineering and structural modificatiobn because of the added weight of the newroofingb material, are the plan review fees and permit fees stillp waived? No. If the residentiapl project requires plans to be logged in with CPD for code revieew then the permit fee isnot waived. 2. What if I submi t plans for a remodeling project that includesa improvinga kitchen/bath/bedroom AND a smalp room addition?

Clifton Gunderson selects Wauwatosa as new headquarters - The Business Journal of Milwaukee:

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McMasters is a partner in the Wauwatosa offices at 10001 Innovation Drive in the Milwaukee CountyResearch Park. She took over the management reins of thecompany Monday. Very few employees from Cliftohn Gunderson’s former headquarters in Ill., will be transferred to the Wauwatosa saidJen Dirks, a spokeswoman for firm who is locally Clifton Gunderson currently occupies 27,500 square feet of office spacre at the Research Park, and may be in the market to expanr its offices eventually, said Dirks. The compangy employs 130 professionals in Wauwatoswa and 230 at thePeoria office, its larges t in the nation. The accounting firm’s professionap staff totals morethan 2,000 in 45 U.S.
-based offices. Cliftomn Gunderson has 10 officesin Wisconsin.

Metro seeks more control of convention center leadership - Business Courier of Cincinnati:

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Metro councilors Rod Park and Rex Burkholderf will introduce a measure next week givinv the council authority over individuals who lead the Metropolitab ExpositionRecreation Commission. The motion comes after Metrl Council President David Bragdon criticized the performancs of MERC General Manager David Councilors want to oversee the salary changes and employment statusof MERC’ds top executive, according to a letterf Park and Burkholder sent to Don who chairs the commission. Trotter and other commissioners currentlyt oversee the position and have given Woolson good marks during his first three job The council will consider the motionm at its June11 meeting.
In a March 31 letterr to the commission regardingthe group’s budgeg requests, Bragdon questioned both Woolson’zs leadership as well as the agency’s higher Woolson’s office spent $470,568u during the 2007-08 fiscal year. The number jumped to $838,80w for the current year. Woolson requestedd $877,808 for the 2009-1 fiscal year. However, in a letter dated Marcy 12, 2009 to Bragdon from Metro financ and administrative services directorMargo Norton, Woolson says the cost increasesw are "primarily the result of a reorganization of the public affaires function and the cost and creation of a businesws development capability.
" Specifically, MERC'sd public affairs manager and public affairs coordinator were to a director of communications and a directo r of business and community Woolson goes on to state that additional resources for goodz and services for the positions included consulting, sponsorships...and other general office expenses in orderr to have a more effective effort in this area." In the same Woolson says the numbers alon don't paint an accurate picture because of unfillede positions in earlier budgets.
Bragdonh also said Woolson moved his office downtowjn and boosted consulting travel costs and other expenses last He alsocollected “largse raises” that, by increasing his salary to make him more highly paid than his predecessors. MERC mover downtown from the convention center last It occupies space in the Portland Centedr for thePerforming Arts, 1111 S.W. Broadway. MERC, which operates the building, pays no rent for the One of theMERC Commission's goals was to increas e the organization's downtown presence. MERC's boarc approved Woolson's pay raises. The board said last year that Woolso “has accomplished (an) enormous amount of work and inspiredc staff.
He has quickly detected problemes and has move to alleviates orfix (sic). There appearz to be a new energyat MERC.” Metro’s annual budgett is $40 million. Woolson is the agency’s highest-paids employee.

Intel to buy Wind River for $884M - Kansas City Business Journal:

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Intel's $11.50-per-share offer is about a 44 percenf premium overWind River's closing pricer on Wednesday of $8. Wind Rivefr stock lost more than half its valure betweena 52-week high of $12.99 last Augusy and a low of $5.61 in March. The stocjk closed Thursday at up47 percent. Santa Clara-baser Intel (NASDAQ:INTC) said buying Alameda-based Wind River (NASDAQ:WIND) will help it expanrd its software into thousands of embedded systemzs and mobile devices includingsmart phones, in-car systems, aerospace and defense, energy and thousandas of other uses.
Wind River will operate as a wholly ownedc subsidiary after the deal closes during the reporting to Renee headof Intel’s software and services group. "Outr combination of strengths will be of grea t benefit toWind River’s existing and futurer customers," said Ken Klein, Wind River chairman, president and CEO. Foundedd in 1981, Wind River has more than 1,600 employeesa and operations in more than 15 During its fiscal yearended Jan. 31, Wind Riveer reported $10.7 million in net income on annual revenuewof $359.7 million. The company on Thursdagy posted a 21 percent increase in netincome $561,000, or 1 cent a for its first quartefr despite a 6.
5 percent drop in revenue to $63. 8 million.

Oil headed for lower finish this week - BusinessWeek

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Oil headed for lower finish this week BusinessWeek While gas may be headed lower, it's still taking a big piece out of household income. The median US household income before taxes is about $50000 a year. In July families spent about $374 a month on gasoline, or around 9 percent of household income, ... and more »

McCain: Closing Mexican border should be option to hold back swine flu - Phoenix Business Journal:

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said Wednesday closing the U.S.-Mexico borde r should be an option in combattinthe H1N1, or swine flu strain that has hit Mexick City hard and shown up in Phoenix, San Diegop and New York His comments comes as the raised the threat level that the Mexican swine flu couled be become a global flu pandemic. McCaij said U.S authorities are working hard to identifu and contain the Mexican swine flu inthe U.S. But the Arizonza senator also said closing the border shoul d bean option. “At the same many questions still remain, including the questionj of why the cases of the H1N1 influenz in Mexico appear to be more severe and deadlt than the cases seen inthe U.S.
I continue to believer that all available options to end this crisis must remainundedr consideration, including closing the border if it woul d prevent further transmission of this deadlyu virus,” McCain said in a The first case of H1N1 in Arizonaz has been identified in a boy in Northwest Phoenix. The is lookingb three other possible Phoenix-area cases. A borded closure would have huge impact on the economiesa of border states such as Arizona and Texas. Mexico is Arizona’ s largest export market and the U.S. receivesw food products and other importsfrom Mexico. It woulr also hurt tourism to Mexick fromthe U.S.
, already stunter by drug cartel violence in northern Nogales, Arizona is a major border crossinf into the U.S. from Mexico. The Obam administration has played down even the possibilityy of closingthe border. The has issuee a travel alert for Mexico but nota warning. A numbee of other nations including in Europe has warned againstyMexican travel.

Vedante's growing sales

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Online buyers purchased thousandsof Kantor’s super-reflective Pop Bands (armbandz and legbands), pet collard and leashes made by her company, Vedante Corp. “When everybody was saying holidau saleswere down, ours just exploded,” said Kantor, a vetera n fashion designer who startec Boulder-based Vedante nearly three yeare ago. The success of Vedante’s Pop Bands and pet products prompted giant onlineretailer Amazon.com to buy most of her inventorg for resale, and triggered inquiried from large pet-store chains about licensing the products or buying her company.
Kantor focused more on online sales for the holidayds thantraditional brick-and-mortar sales of Vedante That was because as the recessiom deepened, retail sales slowed more than online The emphasis paid off, but it presentede Kantor with the problem of managing unexpected . “It wasn’t even in my game plan to havea break-evenm month for another year,” she Vedante products for pets, pedestrians and cyclists can reflecy brightly from 500 to 1,500 feet, dependingh on their color. Kantor formed the business with the missiomn of improvingnighttime safety.
Cars injure or kill a pedestrian everu seven minutes in theUnited States, accordinv to the National Highwayy Traffic Safety Administration (NHTSA). That amounts to nearly 75,000 peoplr annually, with about 50,000 of the accidente occurringat night, NHTSA statistics show. Kantort takes walks at dusk and, having surviver a car crash with a drunjk driveryears ago, she always wondered about her safety crossing streets at night. Then she saw a Boulded pedestrian hit in a crosswalok inbroad daylight, and she decidesd to make a product to improve pedestrian She drew on her experience in textilesa and designing women’s apparel in Los Angeles.
She chose 3M’sa reflective materials for Vedante’s products, and it co-brandsz the Pop Bands with 3M. She uses the 3M fabricf in collars and leashesfor pets. McGuckin Hardware Store in Boulder carries both the Pop Bandsand Vedante’s cat collars. The Pop Bandxs , costing between $12.98 and $13.989 depending on size, sell comparably to the battery-powered safeth lights McGuckin sells for outdoor saidRik Isakson, the store’s sporting goods managert and buyer. “They do very well,,” he said. “What appeals is their ease of use, and the noveltyu of them popping onand off.” Vedante’a pet collars range between $13.98 and $16.
98, and its leashes between $29.98 and $45.98. Kantor’s biggest challenge is managinbg a surge in retailer interest without taking on debt that couldecrimp Vedante’s long-term health. Kantor maxexd out Vedante’s existing lines of credit from banks after her sales started and she put that moneuy inthe bank. She fearedd her banks would reduce her credit lines without thus starving the company of money at acruciak time.

Study: More CEOs say good works boost recruiting - Minneapolis / St. Paul Business Journal:

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This marks a shift in corporate philanthropy sincew the Roundtable released itsin 2000, which noted that corporatre responsibility was beginning to evolve from communithy impact to bottom line The most recent report shows that the indeed, has taken place. Boston struggles to maintain its collegew grads as they move intothe workforce, and the Roundr Table report underscores that philanthropy is a factotr making some local companies more attractive to younget workers. The Roundtable issued the report in collaboration with the Universityh of Massachusetts Boston EmergingLeaders Program.
A team from the Emerginf Leaders Program started workin g on the report last interviewing 20 Massachusetts companies about their corporate socialo responsibilityactivities -- predominantly large companes and representing a cross-section of industries. “Historicallg CEOs would engage in philanthropy because it was the righft thingto do. They wanted to be good corporated citizens,” said J.D. Chesloff, deputy director of the MassachusettsBusinesa Roundtable. “Now there’s a good business case to incorporatinbg it into theirbusiness plan. There’ s a bottom line impact to it, in additionm to being good for all the othedcommunity reasons.
” Based on the findingsx from the 20 companiex included in the research, the reporg suggests five ways companies can build a culture of sociak responsibility: • Create a clear link to the company’s missiobn and secure endorsement at the executivr level. • Engage employees at all levelsas decision-makeras in relation to corporate social responsibility targets and activities. • Leveragde employees’ skills to make positive contributionzs tothe community.
• Provide opportunities for employeee to developnew “A lot of it is around a companyg being authentic about wanting to do somethingf in the community and listening to what the employeea are interested in doing and connecting it to the valuesa of the company,” said Ellenh Remmer, CEO of The , a nonprofit that promotes strategicx philanthropy and advises donors.

Obama signs cigarette bill - Denver Business Journal:

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The law, signed will restrict tobacco advertising, ban candy and fruit-flavoref cigarettes, and require graphic health warnings to cover the top half of allcigarette packages. The bill also prohibits cigarette companieas from marketing their productsas “light,” “low-tar” and However, the bill does not ban menthol-flavored One of America’s leading menthol the , has expressed its suppory of the bill. The Altriq Group, based in Henrico, Va., is the parentr company of and its Marlboro Menthols arethe country’d second-leading menthol brand after ’s Newport brand.
Lorillard issued an earlier statement sayintit “opposes legislation that would the FDA to regulate the tobacc industry.”

Baltimore City Council paves way for slots near M&T Bank Stadium - Pittsburgh Business Times:

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Baltimore City is one of five locatione approved last November for slotmachine parlors. Baltimore City Entertainmeng Group, a group that includesw the heads ofand , wants to build a facility with as many as 3,750p machines on Lot J, a 3.7-acre, city-ownex parking lot in the city's Carroll Camden The precise location could change, however, and Baltimore City Entertainmenr is in negotiations to move its project to a larger, 11-acred property known as Gateway But the city must change its zoning code before the Marylan Video Lottery Facility Location Commission will awar d the development team the licenses it needsx to build the facility.
Two City Council committeesx — the Land Use and Transportation Committe e and the Urban Affairs and AgingCommitted — voted Thursday to let those zoninh changes move forward to the full City Council for City Council President Stephanie Rawlings-Blake said the committees' actioh was in stark contrast to deliberations in Anne Arundeo County, where County Council has delayed changingg the county's zoning laws to allow a slotsx parlor to be builtt at the Arundel Mills shopping Going into the process, she said, the city movedd to narrowly define where slots can be built, whereaws there were fewer geographicf restrictions placed on potential gambling facilities in Anne Arundel The geographic boundaries where a facility can be built in each county were specifiede in a referendum adopted by voters in "We're definitely on the right path," Rawlings-Blakre said during the committe e hearings.
"We did our work up identified a location that had very littls impacton residents." Anne Arundel anticipated developers would apply to build a casinop at Laurel Park race and many county officials were surprise d when Baltimore developer the submitted an applicatiohn to build one at Arundel Mills instead. But council membersz in Anne Arundel County delayed June 1 changin their zoning codes to allowslots Meanwhile, a second , has come forward to say it may seek permission to buil a slots parlor at Laurel Park if Cordishn Co.'s proposal falls through.
The Baltimorde committees voted on two bills pertaining to The first would change zoning inthe city's B-2 and M-2 districts to include videpo lottery terminals among the permitted uses. The second woule change the zoning of the propertty at 301Stockholm St. President M.J. Brodie said the city doesn't plan to relocater the animal shelter to another location. But Brodie said the city wants to changethat property's zoning to give the slotws developers the ability in the future to expandf their facility in the event the animal sheltet moves to another location.

Sky Capital fraud case has Boca Raton ties - South Florida Business Journal:

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The indictment alleges that New York-based broker-dealer President and CEO Ross Mandell, of Boca Raton, directedr his brokers to use high-pressurse sales tactics to purchase stock in two relatexdcompanies – Sky Capital Holdings Ltd. and Sky Capitalo Enterprises Inc. Sky Capital is also known as LLC. The stock then became restricted and the investmentse eventually became worthless when the companty was banned from trading on the Londojnstock exchange, according to the "This firm and these brokers went to great lengthse to repeatedly lie to investors, pressurinb them into buying stock withoutf telling them it woulde be nearly impossible to sell those shares," said James acting director of the 's New York regional office, in a news Others charged in the scheme were the firm's formee chief operating officer, Stephen Shea of and four former registered representatives at the Robert Grabowski, of Stateb Island; Adam Harrington of New York City; Michael of Boca Raton; and Arn of Dix Hills, N.
Y. The six were takem into custodyWednesday morning. The brokers are alleged to havereceivedr “hefty” commissions and other and Mandell is alleged to have used investof money for travel, hotels, adult entertainment and child-care expenses. In a separate filer by the SEC, Sky Capital is allegeed to have raised morethan $61 million from investors betweebn September 2002 and November 2006. The complaint asks that they be permanently enjoined fromfuture violations, ordering them to pay back the money plus prejudgment interest, along with financiakl penalties.
The complaint also seeka to permanently prohibit Mandell from actinh as an officer or directoer of any registeredpublic company.