First Niagara, Berkshire Hills ending TARP participation - The Business Review (Albany):

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(Nasdaq: FNFG) and BHLB) both repurchased the warrants the Treasuryt held on shares of their common First Niagara, which is basedc in Lockport, N.Y. and has regional headquarters in bought back a warrantfor 953,000 sharess of common stock, issued to Treasuryu in November, for $2.7 million. Firsg Niagara took the first step, returning the $184 million receivexd from the Treasury for itspreferred stock, in late May. It was able to do this becausee of a stock offering thatraised $380.43 million in private-sector capital.
“We leverage d the federal investment to make commercial and consumetr credit readily available in the communities where we do just as the program and replaced it withprivate investors’ capital when stock markeft conditions improved,” said John Koelmel, president and CEO of Firs Niagara. “Unlike most we raised more than twicw the amount originally received from the governmengt and provided a solid return to taxpayers on theifr investment while continuing to execute our long term strateg y for the benefit ofour shareholders.” He said that durinvg its six-month investment in First Niagara, the governmentt earned more than $7.
4 million, for an annualizec return of nearly 8 percent. Berkshire Hills, a Mass.-based company with nine area paid $1.04 billion to repurchaser a warrantfor 226,000p common shares issued to the Treasury in December. Berkshire also repaid the $40 million received for its preferredx shares inlate May, after raisinf $30 million in a private stock offering. Berkshires also said it has terminatef its merger agreement with CNBFinancialk Corp. of Worcester Mass. CNB (OTC: CNFA), parenrt of , opted for an offer from Inc. (Nasdaq: of West Springfield. CNB paid Berkshire a termination feeof $970,000.

Wingate names building after Levine - Business First of Buffalo:

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According to a university spokeswoman, Levind has made a multimillion-dollarf commitment over several years that will allow the school to open the buildinyg by the fallof 2011. The three-story, $16 million facility was designed by Yates Chreitzberg Hughex Architectsof Concord. The building will expand the capacity of the UnionhCounty university’s pharmacy programn to 90 students per clasx from 72. In addition, the program for physician assistants will accommodatee 50 studentsper class, up from 20. Featured will include teaching auditoriums, lab space, small-group study areas, a library and officde space. Wingate, founded in 1896, is a private four-yeadr co-educational institution.
The school offers more than 40 undergraduats majors in artsand sciences, business, education, fine music and sports sciences. It also offerss graduate degreesin physician-assistant studies, business, education and doctofr of pharmacy and doctor of education degrees. Matthews-basedr Family Dollar (NYSE:FDO) operates more than 6,650 discount storez in 44 states.

GM files for bankruptcy, plans to transfer operations to Wentzville - Sacramento Business Journal:

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Some operations and equipmeny from a steel stampinf plant inGrand Rapids, Mich., which is slatesd to close as part of the automaker'sd restructuring, will be transferred to Wentzville, accordinvg to Bob Wheeler, a spokesman for the Wentzvillr plant. It's not yet known how many, if any, Michigan employeesw will opt to transferto Wentzville, he GM officials called Wentzville Mayor Paul Lambi at 9 a.m. Mondauy to assure him the local planft wouldremain open. "It's good that they are shippin in work forthis plant," Lambii said. "That's a positive that corporate thinkws this plant willbe around.
" Still, Lamb i said, rival automaker Chrysler plansz to shutter its Fenton factors afte investing $130 million in them, so it was important for Wentzvillr to not rely on GM so much and diversifuy its revenue stream. When Lambij took office seven years ago, Wentzville counted on GM for aboutr 55 to 60 percent of itstotal Today, that's more like 15 percenr of the city's $24 million general because GM pays the city about $3 millionj a year in real estate taxes, property taxesz and other fees, he said.
GM on Monday by the end of but the Wentzville plant was sparedbecause it’e the only plant where Chevrolet Express and GMC Savana vans are The Wentzville plant will still undergo a previously announced and other production cuts in June and July that will resulf in the layoffs of 300 Monday’s Chapter 11 filing by the 101-year-old automake r is among the largest in U.S. history and largest-ever U.S. manufacturing bankruptcy. GM listed $173 billionm in liabilities and $82 billion in assets, according to the filedd in New York. GM to St.
largest privately held company, Enterprise and to Chapter 11, which allow the company to operate while protected fromits creditors, pushexs GM into a fast-track bankruptcy and providesz $30 billion of additional taxpayer funds to restructure. The GM plan as detailedf by U.S. officials would allow a much smallef GM to emerge from court protectiob within 60 to90 days. The automakert has not provided an updated target for job cuts but was lookingb toeliminate 21,000 U.S. factory jobs from the 54,00 union members it now General Motorsemploys 92,000 in the United States and is indirectlyh responsible for 500,000 retirees. The U.S.
governmenrt would hold a 60 percentf financial interest in areorganized GM, and the UAW woulxd take a 17.5 percent stake. The governments of Canada and the province of Ontario have agreed to a 12 percentf ownership stake in exchange forfinancialk aid. GM bondholders would get 10 "It’s a bittersweet thing," Wheeler said. "You hate to have to go through the process of closingh plants andeliminating jobs, but look that’s what's going on with a lot of industries. Hopefully we can rebound, hire people in the future and be the vibrant companu weonce were.
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Galichia Medical Group names CEO - Silicon Valley / San Jose Business Journal:

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Meyer, who is currentlyy medical director and employeed benefits manager for IMAof Kansas, will move starg with Galichia Medical Group on Aug. 17. Meyefr said job presents a uniquer opportunity. “Galichia is poised to grow, whicu offers me a very exciting opportunitt to growwith it,” Meyer said in a written statement. “Being a physician working in the insurance industry, I’ve learned a greag deal about the businesxs of health care, and I know a lot about medicine. I’m excited to put that knowledgd back intodaily practice.” Galichia says it hired Meyere as part of its ongoing mission to provide the most effective and efficiengt patient care in Wichita.
Meyer’s rigorous training and leadership will be a boonto Galichia’s dedicated and talented staftf of physicians and other care providers, the medical group “Dr. Meyer is a physician executive that leads by saidSteve Harris, chief executivse of , in a statement. “His recentt experiences within the insurance industry combinedc with the intellectual focus needed to graduatwe from medical school and the personaol discipline necessary tofly single-seat military jets make Dr. Meyer exceptionally well-qualifier to lead the Galichia Medical Prior to joining IMA of Meyer served as national medical director for Locktomn Companies LLC inKansa City.
A Wichita native, Meyet graduated from and receivedhis bachelor’s degree in biologyt from Williams College in He earned a medical degree from the . He also recently retiredx from active duty as a fligh t surgeon with the at Whiteman Air Force Base nearKansas City, Mo. He continuees his service in the U.S. Air Force Reserves. Galichi a Medical Group is a multi-specialty grouo that provides comprehensive medical services to allof Wichita’s hospitalsw and throughout the state of Kansas. The group also has an officew in Ferdonia.

DirecTV CEO leaving as Liberty merger nears - Denver Business Journal:

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just as the satellite broadcaster readie to merge with an offshoot ofJohn Malone’ News Corp. and DirecTV confirmef Wednesday that Carey will leave theEl Segundo, Calif.-based satellitw broadcaster July 1 to become second-in-commanrd — handling international operations — for Rupert Murdoch’sx global media empire. Carey’s defection may mudduy investors’ reception of the planned merger between DirecTV andLiberty Entertainment, a division of Douglas County-basedd Liberty Media. Carey ran DirecTVc for the past six leading it through a period of growth and winning partnershipsx with every major telecom company inthe U.S.
He was expected to stay with DirecTcV after it became independent of Liberty Media. Instead, he returns to working for Murdocnh andNews Corp., wherde he worked for 15 years priofr to heading DirecTV. Liberty Entertainmenft (NASDAQ: LMDIA) holds a 54 percent stake in DTV) as well as controlling stakes in onlinee gaming companyFun Technologies, the Game Show Network and regionapl sports TV networks in Denver, Pittsburgjh and Seattle.
Those holdings are being spun off this year intoa free-standin g company to clear up DirecTV’w stock structure and make it easier for it to engag e in mergers and acquisitions, the companies Malone’s company traded its 16 percent ownership stake in News Corp. back to Murdoch’ws company in 2007 in exchange for the controlling stakein

Contractors believe the government is inefficient in resolving contract issues - The FINANCIAL

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Contractors believe the government is inefficient in resolving contract issues The FINANCIAL The FINANCIAL -- Nearly three-quarters (74%) of government contractors surveyed consider the government to be slow and inefficient in resolving contract ... and more »

Report: Antitrust scrutiny of carrier deals on iPhone, Pre, Storm - Austin Business Journal:

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The Wall Street Journal reported Tuesday that a reviesw by the is in its early stages but marks the latest sign that the Obama administration is goinf to be more aggressive onantitrust laws. The most popular smartphones in recentf years have commonly required owners to buy theirt service from a predeterminedtelecom provoder. is the exclusivre carrier for 's Verizon for 's BlackBerry Storm in the U.S. and has an exclusivitgy deal for 's Pre until early next year. Thes e deals were the subject of Congressionall hearings this year in which they were portrayed as an abuse of power by telecoj providers who have growntoo powerful. The said in June it plansx to investigate them.
But carriers say their exclusiver deals encourage them to offer consumerds discount prices on smartphone and supports development of the expensive They warn that governmeny intervention would impact their ablit y toinvest elsewhere, such as improvingb telecom network capacity.

General Assembly panels approve State Center project - Orlando Business Journal:

http://www.washingtoneast.org/freeanalysis.html
billion State Center redevelopment in Baltimore Citymove forward, despited lingering concerns about the project’s financea and impact on Maryland’s ability to borrow money. The Senatr Budget and Taxation Committeeevoted unanimously, but with some to endorse the Statre Center project, which involvesx leasing 25 acres of land to a private developmen team. The House of Delegates’ Appropriations Committewe indicated it will do the same but did not formallyy vote as its Senate counterpartzs didThursday afternoon. The project will now go to the state Boarde of Public Works for a schedulex June3 vote. The board is led by Gov.
Martin who supports the project and workerd closely on it while he was mayor of Baltimore. Matthew Gallagher, the governor’s deputy chieft of staff, lobbied the House and Senate onthe project. “We are at the cusp of a very importang milestone,” Gallagher said. “The governor’s office is very supportivew of this project and has been involved dating back to our time at the Gallagher told the House during its hearing on the In signing off on the the House and Senate legislators insisted on having more oversightt in theredevelopment process.
They also conditioned theirr approval on seeing input fromthe , whic is familiar with such large-scale development projects. A private State Centefr LLC development team was selected in Marchn 2006 to remake the state officw complex off Martin LutherKing Boulevard. As the developers would lease the land from the convert the complex intoa $1.4 billionh mixed-use development, and then lease a substantial portion of the project’s planned 2 million squarwe feet of office space back to the state for use by its variouz agencies. For the project to move the Board of Public Works must approvwe a master development agreement setting the term s for StateCenter LLC.
Once that the developers will then design the firsft phase of the project and come back to the statwe with specific costs and lease That process would continue through each ofthe development’as four phases, expected to take betweemn 10 and 12 years to complete. The firsty phase would focus onthe project’s office When fully developed, the project is slated to include 1,200 residential rental and for-sale 2 million square feet of office space, 250,000 square feet of retailk space and 7,000 parking spaces. Groundbreaking for the project’e first phase could begin in June 2010.
Their efforts failed, but the legislature’s budger committees passed a requirement the project be reviewed by state TreasurerNancy Kopp. The legislatur e asked Kopp to look specificallyt at an accounting provision of the projecf to determine ifthe state’s leasing of office space from the developers should be considereds an operating lease or a capitakl lease. If it were deemed a capitakl lease, that would mean the statre would need to list it on its budget as an asse anda liability, and those costs would be addeds to the state’s overall debt affordabilitty limit — its abilit y to borrow money to financre other capital projects.
In a May 15 Those terms won’t be determined until after the master developmengt agreementis approved. But Kopp felt it should be considereds acapital lease, and those costs could causw the state to exceed its debt serviced limits by 2018.

Washington Business Journal:

cork
A survey by America's Health Insurancs Plans, an industry trade group in Washington, D.C., foun d small-group coverage in 2006 averagedc $312 per month for single coverageand $814 per montj for family coverage. Helen Darling, presidentf of the National Business Group on Healthnin Washington, D.C., said that when evaluatingt plan options, employers should considet the quality of care provide d to its members and not just the premiuj prices. First on her list is checking to make sure the insurert is accredited by the National Committeed forQuality Assurance.
Next would be reading through the plans' HEDIS (Health Plan Employed Data and Information Set) scores, whic h the NCQA accumulates to track plans on various performancre measures. "You can find out thingx like what percentage of their memberx receivea beta-blocker after suffering a heart attack," Darling said. "I'd also make sure the physician s in theplan are, with very few exceptions, boar d certified. And I'd want to see that the plan hasa 'centerz of excellence' program for certain procedurese such as organ transplants and cardiovascular care.
When evaluating premiums, Darling suggested businesse s ask for a breakdown of all prices to determin whether it might be cheaper to outsourcd certain part ofthe plan, such as prescription pharmacy Among the various types of employer-sponsored health insurance plans, managed-care options dominate the landscape. In its nationak survey of employee-sponsored health plans, the consulting firm Mercer Human Resourcr Consulting found that preferred provider organizations were the most popular optionin 2006, at 61 followed by health maintenance organizations at 24 percent. Both HMOs and PPOs have contract s with networksof physicians, hospitals and other health-car e networks.
Members pay less for services provided "in-network," but typically have the options of payinghighe "out-of-network" fees to going to providers not in the HMOs are more restrictive by having membersa select a primary-care physician who must approves visits to specialists. PPOs typicallg carry slightly higher deductiblesand co-payments, but no restrictions on visitzs to specialists - making the option generally more favorabld to members. In ordetr to hold down managed care plans are increasingly offering customers a tie red pricin planfor pharmaceuticals.
Members pay the least for generic drugs, slightly more for brand-name products in the plan's formulary of approved drugs, and the most for brandc names drug not on theformulary list. Traditional indemnity which accounted for about 50 percentof employer-sponsored plans in the early 1990s, has steadily plunge during the past decade and hit just 3 percent last year accordingf to the Mercer survey. The newesg option is consumer-directed or consumer-driven health plans, abbreviatef as Chaps, which featurs high deductibles along with health savings accounts or healtgreimbursement accounts.
With such plans, employees and employers can makea pre-tax contribution to a healtn savings account, which is used to pay for routinde medical care. Any funds left in the accountf at the end of the year can be used insubsequentg years. If the fund is depleted, the employee'z coverage converts to a high-deductible managed-care plan. Proponents of Chaps say they help peoplre becomebetter health-care consumers because their own money is involved. Critic s fear people will put off necessarg treatment to avoid emptyingtheier accounts.
"They are not the right choice for everu employer or every but they can help both employers and employeesxsave money," said Jessicaz Waltman, vice president of policu and state affairs for the National Associatio n of Health Underwriters in Arlington, Va. Waltman said some younger, childless employee decide to opt out ofan employer's plan because they typically don't get sick or even go to a doctor's office. "A consumer-directed plan is a way to enticd younger workers to go into the companuy healthinsurance plan," she said, noting the featur e that allows people to rollover unused funds for future health-care services.
"Thers really are a wide array of health planout there, but most peoplew (in employer-sponsored plans) end up with a PPO producty because of pricing," Waltmab said. Waltman also said employees are attracted to PPOs because they alloww members the ability to go to any doctofr inthe plan's network without a referral. "Employers will gravitat to whatemployees like," she said.

NCAA Denies Kentucky's Appeal Over Kanter's Eligibility - New York Times

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NCAA Denies Kentucky's Appeal Over Kanter's Eligibility New York Times The NCAA denied the University of Kentucky's eligibility appeal for the Turkish basketb »

Fred

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The Memphis-based discount retailer reportee net incomeof $8.6 million, or 21 centds per diluted share, for first quarter 2009, up 17.8 percentg compared to net income of $7.3 or 18 cents per dilute share in first quarter 2008. The companh had total first quarter salesof $458.4 down 1.3 percent compared to $464.3 million for firsft quarter 2008. In 2008, Fred’z (NASDAQ: FRED) closed 74 underperformin g stores and 23underperforming pharmacies. Excluding storesw closed last year, the company increased totap sales 5 percent in the first quartere compared to thesame year-ago period. On a comparabl store basis, year-to-date salesx increased 2.8% compared with 2.
1% in the same periocd last year. Fred’s CEO Bruce A. Efired said he expected to see more improvement in theseconc quarter. “This will be a formidablwe task as we will be contending with the economif stimulus checks consumers received last year and recorcdunemployment rates," he said in a statement. "We also plan to launch our enhance d store prototype in approximately 16 new and remodelede stores during theseconds quarter." During the first Fred's opened three new stores and three new while closing three pharmacies.
Fred’s board of director s also increasedthe company’s quartefr cash dividend to 3 cents per shares from the prior rate of 2 cents per share. The dividenx is payable on June 15 to shareholderss of record as ofJune 1. Fred'sd operates 666 discount generalmerchandiswe stores, including 24 franchised Shares of Fred’s were trading lower in late Thursdau trading, down about 5 percent to $13.14 per share.

Baltimore Business Journal: Most emailed Stories

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Struever Bros. Eccles & Rousew Inc. has suspended plans to expand its Tide Pointr business park in Locust Point and is pulling back from its role as a developet atHarbor Point, an $830 million redevelopmengt of the former Allied Signal chrome plany along Baltimore