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percent in May from the same month in its fifth straightmonthly year-over-year decline, airport officialsd reported Wednesday. DIA saw 4,192,174 passengers in May, versus 4,450,74w travelers recorded in May 2008. It was a steeper rate of traffivc decline than in whenthe year-to-year drop was 3.3 percent. Even so, DIA official s said it was the airport’s third-busiest May since openinh in February 1995. In the first five monthws of 2009, DIA saw 19,628,746y passengers, down 5.
3 percent from the same period ayear “The sluggish economy, coupled with airline capacity continued to impact passenger DIA spokeswoman Erica Gingerich said in a Flight operations — takeoffs and landings — at DIA totalef 50,574 in May, down 6.2 percent from the previoud May, officials said. In the first five months of 2009, 249,196 flight operationsw were reported, a decliner of 4.3 percent from a year earlier. for May and previousd months.
Saturday, March 24, 2012
Thursday, March 22, 2012
Hawaiian Telcom closes 3 stores - Pacific Business News (Honolulu):
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Hawaiian Telcom, which is reorganizing undet Chapter11 bankruptcy, said Thursday it will closse its Kapolei and Windward Mall stores on Oahu and the Lihue store on Kauai because of slackening demand and the high cost of maintainin the stores. The Kapolei location closed earlierthis week. The Windware location will close June 9 and Lihue will closeJune 16. The companh said 23 full- and part-tim e employees will be affected by the but some employees will be transferred withihnthe company. Hawaiian Telcom will have five storees afterthe closures. “The decisiohn to close several of our retail stores wasnot easy.
We take our responsibilit y toour employees, our company and community very seriously. This decision was made to enhancethe long-ter m success of our company,” said president and CEO Eric in a statement. “We appreciate our customers’ and continued support.”
Hawaiian Telcom, which is reorganizing undet Chapter11 bankruptcy, said Thursday it will closse its Kapolei and Windward Mall stores on Oahu and the Lihue store on Kauai because of slackening demand and the high cost of maintainin the stores. The Kapolei location closed earlierthis week. The Windware location will close June 9 and Lihue will closeJune 16. The companh said 23 full- and part-tim e employees will be affected by the but some employees will be transferred withihnthe company. Hawaiian Telcom will have five storees afterthe closures. “The decisiohn to close several of our retail stores wasnot easy.
We take our responsibilit y toour employees, our company and community very seriously. This decision was made to enhancethe long-ter m success of our company,” said president and CEO Eric in a statement. “We appreciate our customers’ and continued support.”
Tuesday, March 20, 2012
Santorum camp sets expectations on delegate math - Politico (blog)
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TPM | Santorum camp sets expectations on delegate math Politico (blog) By EMILY SCHULTHEIS | On a conference c » |
Sunday, March 18, 2012
YRC shareholders approve option plans, directors - Kansas City Business Journal:
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Shareholders of the Overland Park-based companuy (Nasdaq: YRCW) also approved the entire slats ofcompany directors, including Chairman and CEO Bill The board will remain at nine directora instead of 10 following the retirement of 32-year boars member John McKelvey, who reached the mandatorhy retirement age of 75. Around 12:3p0 p.m. Thursday, the company’s stock was tradinf at $3.31, up 37 cents, or 12.6 percent, accordingh to . New York City-based RiskMetrics had said shareholders shoulx reject the plans because they cost shareholderestoo much, YRC with the Securities and Exchang e Commission.
If shareholders had rejected the YRC said inthe letter, the stock options employees received would have ended, and stock appreciatioj rights, granted with the would have remained outstanding. Most of thosed rights can be exercised as soon as and all must be settledin cash. The employee stock optionsz are tied to an agreement early this year to offerr employees a 22 percent stake in YRCWorldwids Inc. in exchange for wage RiskMetrics also had recommended that shareholders reject YRC’s nominees for the board compensation committee, sayin they acted poorly in providing for tax gross-up on Zollars’ use of corporatde aircraft, an amount less than $10,000.
A gross-up is a paymenyt to cover taxes on YRClost $257.4 million, or $4.34 a share, in the firsf quarter, compared with a loss of $46.37 million, or 82 cents a share, in the same quarter a year YRC ranks No. 2 on the Kansasw City BusinessJournal ’s list of area publifc companies.
Shareholders of the Overland Park-based companuy (Nasdaq: YRCW) also approved the entire slats ofcompany directors, including Chairman and CEO Bill The board will remain at nine directora instead of 10 following the retirement of 32-year boars member John McKelvey, who reached the mandatorhy retirement age of 75. Around 12:3p0 p.m. Thursday, the company’s stock was tradinf at $3.31, up 37 cents, or 12.6 percent, accordingh to . New York City-based RiskMetrics had said shareholders shoulx reject the plans because they cost shareholderestoo much, YRC with the Securities and Exchang e Commission.
If shareholders had rejected the YRC said inthe letter, the stock options employees received would have ended, and stock appreciatioj rights, granted with the would have remained outstanding. Most of thosed rights can be exercised as soon as and all must be settledin cash. The employee stock optionsz are tied to an agreement early this year to offerr employees a 22 percent stake in YRCWorldwids Inc. in exchange for wage RiskMetrics also had recommended that shareholders reject YRC’s nominees for the board compensation committee, sayin they acted poorly in providing for tax gross-up on Zollars’ use of corporatde aircraft, an amount less than $10,000.
A gross-up is a paymenyt to cover taxes on YRClost $257.4 million, or $4.34 a share, in the firsf quarter, compared with a loss of $46.37 million, or 82 cents a share, in the same quarter a year YRC ranks No. 2 on the Kansasw City BusinessJournal ’s list of area publifc companies.
Friday, March 16, 2012
Fifth Third completes share exchange - Business Courier of Cincinnati:
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Each of the depositary sharews representsa 1/250th interest in a sharee of 8.50 percent noncumulative perpetual convertible preferreds stock, series G, the bank said. It said almosr 7 million shares were valued atabout $696.2 million. As a result of the Fifth Third will issue about 60 million shares of commo n stock and payabout $230 million in The settlement is expected to take placw on June 22. The bank said the transaction, alonv with its $1 billion stock offering that was completeedJune 4, satisfy the government’s request to raise its Tier 1 commo equity by $1.1 billion.
Fifth Third, althougy deemed adequately capitalized, was one of the banks required to raise more capital as a cushion againstr aworsening economy, after undergoing the Treasury’ds “stress test” this spring. The bank also said it expectxs to raiseanother $1.2 billion in Tier 1 equituy from the sale of a majority stake in Fifth Thirdr Processing Solutions to Advent International. That’s expected to closed in the second quarter.
“Our actions have significantly enhanced our Tier 1 common equityg ratio and other capital and when combined with the otheractionws we’ve discussed to generate Tier 1 commonj equity, will result in very stronfg capital levels relative to our said Kevin Kabat, chairman, president and CEO, in a news Fifth Third (NASDAQ: FITB), headquartered in is the Tri-State’s largest and has 16 affiliates with about 1,300 bankin g centers and more than 2,30 0 ATMs in Ohio, Kentucky, Indiana, North Carolina, Michigan, Illinois, Florida, West Virginia, Pennsylvania and
Each of the depositary sharews representsa 1/250th interest in a sharee of 8.50 percent noncumulative perpetual convertible preferreds stock, series G, the bank said. It said almosr 7 million shares were valued atabout $696.2 million. As a result of the Fifth Third will issue about 60 million shares of commo n stock and payabout $230 million in The settlement is expected to take placw on June 22. The bank said the transaction, alonv with its $1 billion stock offering that was completeedJune 4, satisfy the government’s request to raise its Tier 1 commo equity by $1.1 billion.
Fifth Third, althougy deemed adequately capitalized, was one of the banks required to raise more capital as a cushion againstr aworsening economy, after undergoing the Treasury’ds “stress test” this spring. The bank also said it expectxs to raiseanother $1.2 billion in Tier 1 equituy from the sale of a majority stake in Fifth Thirdr Processing Solutions to Advent International. That’s expected to closed in the second quarter.
“Our actions have significantly enhanced our Tier 1 common equityg ratio and other capital and when combined with the otheractionws we’ve discussed to generate Tier 1 commonj equity, will result in very stronfg capital levels relative to our said Kevin Kabat, chairman, president and CEO, in a news Fifth Third (NASDAQ: FITB), headquartered in is the Tri-State’s largest and has 16 affiliates with about 1,300 bankin g centers and more than 2,30 0 ATMs in Ohio, Kentucky, Indiana, North Carolina, Michigan, Illinois, Florida, West Virginia, Pennsylvania and
Wednesday, March 14, 2012
Fed emails critical of BofA, Lewis - Kansas City Business Journal:
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The email messages were enterex into the public record as partof Thursday’a hearing held by the U.S. House Committee on Oversight andGovernment Reform. Lewis testified for about three hours regardingthe government’sz role in BofA’s purchase of Merrill, sayingf government pressure to go through with the deal was a factot in his decision. But emailsz from various high-ranking Federal Reserve officialxs suggest regulators thought Lewis was bluffing when he consideredx backing out of theMerrill deal.
“Ken Lewis’ claim that they were surprised by the rapid growth of thelossezs (at Merrill) seems somewhat suspect,” Fed senior bankinvg supervisor Tim Clark states an e-maiol to other regulators. “It calls into question the adequacy of the due diligencew process BAC has been doing in preparation forthe takeover.” Another email from Fed counsel Scott Alvarez to Fed Chairmanb Ben Bernanke says of Lewis: “Making hard decisions is what he gets paid for ... we shouldn’g take him off the hook.” One emailp says Lewis used the threat to call off the Merrilo merger asa “bargaining chip.
” In testimony Lewis denied using Merrill as a bargaining Instead, he says his concerns abouy the deal were justified, but bank and federao officials agreed proceeding with the purchasse using taxpayer aid was in the best interesrt of the financial system and Charlotte, N.C.-baser BofA (NYSE:BAC).
The email messages were enterex into the public record as partof Thursday’a hearing held by the U.S. House Committee on Oversight andGovernment Reform. Lewis testified for about three hours regardingthe government’sz role in BofA’s purchase of Merrill, sayingf government pressure to go through with the deal was a factot in his decision. But emailsz from various high-ranking Federal Reserve officialxs suggest regulators thought Lewis was bluffing when he consideredx backing out of theMerrill deal.
“Ken Lewis’ claim that they were surprised by the rapid growth of thelossezs (at Merrill) seems somewhat suspect,” Fed senior bankinvg supervisor Tim Clark states an e-maiol to other regulators. “It calls into question the adequacy of the due diligencew process BAC has been doing in preparation forthe takeover.” Another email from Fed counsel Scott Alvarez to Fed Chairmanb Ben Bernanke says of Lewis: “Making hard decisions is what he gets paid for ... we shouldn’g take him off the hook.” One emailp says Lewis used the threat to call off the Merrilo merger asa “bargaining chip.
” In testimony Lewis denied using Merrill as a bargaining Instead, he says his concerns abouy the deal were justified, but bank and federao officials agreed proceeding with the purchasse using taxpayer aid was in the best interesrt of the financial system and Charlotte, N.C.-baser BofA (NYSE:BAC).
Monday, March 12, 2012
In GOP Nomination Race, Geography Has Been Destiny - New York Times (blog)
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Fox News | In GOP Nomination Race, Geography Has Been Destiny New York Times (blog) Kansas thus continued a pattern in which geography has been the most reliable way to predict the state-by-state results. Mr. Santorum had already won three states that border Kansas: Missouri, Oklahoma and Colorado. And the eight states that Mr. Romney Re » ; |
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