Culture 2010: Director John Cameron Mitchell's Picks of the Year Wall Street Journal (blog) Here's what John Cameron Mitchell, director of the new film âRabbit Hole,â said: âI was really moved by Michael Cunningham's new book, âBy Nightfall. ... |
Wednesday, December 29, 2010
Culture 2010: Director John Cameron Mitchell's Picks of the Year - Wall Street Journal (blog)
geqopimozaqyxyh.blogspot.com
Monday, December 27, 2010
Nirvana can be in the mouth of the beholder - Memphis Business Journal:
youngmanmeledero1636.blogspot.com
would have found a downtowh full of brick structures and plenty of commerce goinv on below the verdant hills createdby Crowley’sd Ridge. It’s the same setting I grew up in. Almostf every storefront on our downtown’s main drag contained a business: hardward stores, clothing stores, dime stores, shoe restaurants, even two movie theaters. It’s sure not like that now. Mr. Twaimn might today call it “one of the direst situations” on the river. But it’s not alone among Delta towns that can remember better But one of the most charmingb aspects of this town when I was a kid was the prevalencew of theneighborhood grocery.
Most neighborhoods had Mine hadtwo — acrosd the street from each Somehow, they both stayed in business. One of Reeves Grocery, was known as “the biggest littlee store in town.” It did seem to have a lot of And one item made Reeves stand out from ever other tinylittle store, and that was a producf called “Smokey Joe.” This was a foot-longb smoked sausage in a bun, coveredx in chili and slaw, that was invented by the store owner, Ellis Reeves. I grew up eatinbg them. Then after I grew up, I kept eatingf them. And when Mr. Reeves sold his store and movedc away, I rushed to the storw to make sure the Smokey Joe had not leftwith him.
The new ownersa assured me that they would continue tosell Whew. But then I was afraic that maybe someone else should knowthat recipe, just to keep this fabulous creation alive for the ages. So I asked the folks to tell me how tomake one, and they did. This whole history of Helena, Reeveas and the Smokey Joe surfaced during our recent Smalo BusinessAwards program. One of the finalists and an eventual winner, as it turns out — in the competitionm was Monogram FoodSolutions LLC, which makea and distributes cold cuts, hot dogs and sausages, amonhg other products. One of its products is the Circld B brandsmoked sausage, which just happens to be the key ingredient in Mr.
Reeves’ Smokey Joe. So I was talking to one of the Monogramj guys aboutall this, and I was tellingb him all the ingredients and tryinfg to sell him on the idea of experiencingf the Smokey Joe. I was literallyt raving about it. And I must have done a good job, becauser before I knew it he had agreed to make up a batch of Smokey Joesin Monogram’s test And he invited me to come to the company headquarters and wolf down a genuine Smoke y Joe in what essentially is the Circle B corporatre boardroom. Well, that soundee like Smokey Joe nirvanato me.
In the weeksw that followed our initial we had several conversations about the key ingredients and the proper steps for awinnint presentation. Then it happened. Just this right in Circle B HQ, I walked in to find a simmerinh pot of Four Star Circle B sausages and allthe trimmings. It was It made me wish Mr. Reeves coulx be there. Of course, I suggested a couplee of minor changes in the preparation that couldr have made the mealeven better. I also recommende that next time, I should be arouned to help out fromthe beginning.
I hope they understoode the message, because I reallg want there to be a next Once you get a taste of SmokeyJoe nirvana, you want to go
would have found a downtowh full of brick structures and plenty of commerce goinv on below the verdant hills createdby Crowley’sd Ridge. It’s the same setting I grew up in. Almostf every storefront on our downtown’s main drag contained a business: hardward stores, clothing stores, dime stores, shoe restaurants, even two movie theaters. It’s sure not like that now. Mr. Twaimn might today call it “one of the direst situations” on the river. But it’s not alone among Delta towns that can remember better But one of the most charmingb aspects of this town when I was a kid was the prevalencew of theneighborhood grocery.
Most neighborhoods had Mine hadtwo — acrosd the street from each Somehow, they both stayed in business. One of Reeves Grocery, was known as “the biggest littlee store in town.” It did seem to have a lot of And one item made Reeves stand out from ever other tinylittle store, and that was a producf called “Smokey Joe.” This was a foot-longb smoked sausage in a bun, coveredx in chili and slaw, that was invented by the store owner, Ellis Reeves. I grew up eatinbg them. Then after I grew up, I kept eatingf them. And when Mr. Reeves sold his store and movedc away, I rushed to the storw to make sure the Smokey Joe had not leftwith him.
The new ownersa assured me that they would continue tosell Whew. But then I was afraic that maybe someone else should knowthat recipe, just to keep this fabulous creation alive for the ages. So I asked the folks to tell me how tomake one, and they did. This whole history of Helena, Reeveas and the Smokey Joe surfaced during our recent Smalo BusinessAwards program. One of the finalists and an eventual winner, as it turns out — in the competitionm was Monogram FoodSolutions LLC, which makea and distributes cold cuts, hot dogs and sausages, amonhg other products. One of its products is the Circld B brandsmoked sausage, which just happens to be the key ingredient in Mr.
Reeves’ Smokey Joe. So I was talking to one of the Monogramj guys aboutall this, and I was tellingb him all the ingredients and tryinfg to sell him on the idea of experiencingf the Smokey Joe. I was literallyt raving about it. And I must have done a good job, becauser before I knew it he had agreed to make up a batch of Smokey Joesin Monogram’s test And he invited me to come to the company headquarters and wolf down a genuine Smoke y Joe in what essentially is the Circle B corporatre boardroom. Well, that soundee like Smokey Joe nirvanato me.
In the weeksw that followed our initial we had several conversations about the key ingredients and the proper steps for awinnint presentation. Then it happened. Just this right in Circle B HQ, I walked in to find a simmerinh pot of Four Star Circle B sausages and allthe trimmings. It was It made me wish Mr. Reeves coulx be there. Of course, I suggested a couplee of minor changes in the preparation that couldr have made the mealeven better. I also recommende that next time, I should be arouned to help out fromthe beginning.
I hope they understoode the message, because I reallg want there to be a next Once you get a taste of SmokeyJoe nirvana, you want to go
Friday, December 24, 2010
Corrections and clarifications - The Guardian
http://bath-linen.com/building-a-chicken-coop-without-wasting-time.html
Corrections and clarifications The Guardian Theatre critic Robin Thornber â" whose obituary we published on 13 December, page 31 â" saw the premiere of Alan Bleasdale's first play, Fat Harold and the ... |
Tuesday, December 21, 2010
Judge orders feds to pay $2.5M in wiretapping case - The Associated Press
http://essaysdaddy.com/free-essays-db/philosophy-essays/the-role-of-a-government.html
Judge orders feds to pay $2.5M in wiretapping case The Associated Press SAN FRANCISCO (AP) â" A federal judge on Tuesday ordered the US government to pay more than $2.5 million in attorney fees and damages after he concluded ... |
Sunday, December 19, 2010
How a Doctor at Sloan Kettering Saved My Life in the summer of 2002 and then ... - Huffington Post (blog)
coras-newport.blogspot.com
How a Doctor at Sloan Kettering Saved My Life in the summer of 2002 and then ... Huffington Post (blog) Finally, he gave me the name of an oncologist at Dana Farber in Boston who is regarded as the "grandfather" of Hodgkin's treatment. ... |
Thursday, December 16, 2010
Phase 2 Consulting sold to Premier healthcare alliance - Charlotte Business Journal:
tenganmodooo1324.blogspot.com
St. Louis-based (NYSE: RHB) has agreed to sell P2C to , a divisionh of Charlotte, N.C.-based Premier healthcare The financial terms of the deal were not Headquartered in SaltLake City, P2C also has an officr in Austin. RehabCare has been a contracted servicer supplier for Premiersince 2007. RehabCare President and CEO John Shorg said the sale supportsthe company'ss long-term strategic plan and the proceeds will be used to reduce the company’s outstanding debt. “Given the aging population and the supporty for bundled Medicare payments buildingin Washington, we foresede a rapidly expanding deman for our continuum of post-acuter care services.
This transaction allows us to focus more of our resourcezs and energies on ourcore business,” Short said. Founded by Shory in 1986 P2C provides managementy and economic consulting services to thehealthcarew industry, specializing in strategic planning, revenude cycle enhancement, physician alignment and clinical operations The firm has provided advisory services for some of the nation’ws leading hospitals and health systems. In 2004, it was acquirexd by RehabCare when Short was namedthat company's new president and CEO.
St. Louis-based (NYSE: RHB) has agreed to sell P2C to , a divisionh of Charlotte, N.C.-based Premier healthcare The financial terms of the deal were not Headquartered in SaltLake City, P2C also has an officr in Austin. RehabCare has been a contracted servicer supplier for Premiersince 2007. RehabCare President and CEO John Shorg said the sale supportsthe company'ss long-term strategic plan and the proceeds will be used to reduce the company’s outstanding debt. “Given the aging population and the supporty for bundled Medicare payments buildingin Washington, we foresede a rapidly expanding deman for our continuum of post-acuter care services.
This transaction allows us to focus more of our resourcezs and energies on ourcore business,” Short said. Founded by Shory in 1986 P2C provides managementy and economic consulting services to thehealthcarew industry, specializing in strategic planning, revenude cycle enhancement, physician alignment and clinical operations The firm has provided advisory services for some of the nation’ws leading hospitals and health systems. In 2004, it was acquirexd by RehabCare when Short was namedthat company's new president and CEO.
Tuesday, December 14, 2010
Cincinnati Reds struggle to fill seats; recent game hits new low - Business Courier of Cincinnati:
stolen-surrounding.blogspot.com
Attendance is down so far this and on April 28 the team had its lowest home-game attendance since opened in 2003. Just 9,878 payin g fans showed up that night. Despite the team’s strong start on the attendance for Reds home games throughn 11 home dates is down 6 percentt from the same number of dates ayear ago. That’s a steeper decline than the 4.4 percent drop in paid attendanc for all of through the endof April. The sluggisuh attendance comes in spite ofthe Reds’ 14-12 start througuh May 5 that had them tied for third place.
With promising youn g talent and a stronfgpitching staff, some expertxs even picked the team to be a dark horsed candidate in the National League Central Divisionm race. But fans haven’t jumpe d on the bandwagon, at least not yet. Observers say the economy is havinbgan impact. And fans might be skeptical afterthe team’as eight straight losing seasons. Even the loss of star sluggers Ken Griffey Jr. and Adam Dunn from last seasomn might cause some fans to waitand see. Whatever the case, the Reds have averaged 21,460 fans a game so far this ranking 24th out of the30 major-leaguew teams. That’s down from an average of 22,82t5 after 11 home dates a year ago.
And the team finished last yearranke 23rd. “The current environment has impacteddticket sales,” said Bill Reds vice president of corporate sales. “We’re selliny smaller ticket packages.” The weathere has had a big impact, too, he Heavy rain was in the forecastApril 28, although it clearesd before game time. “Bu t that didn’t cause people to be spontaneous and come down to see the saidJeff McDonald, public relations director at downtownj ticket broker . “It’s concerning,” McDonald said. “We’ve sold tickets at ridiculouslylow prices.
” Some fans who bought ticketss to 20 games last year have told his firm they are more hesitany this year. They point out that without the star powef of Griffeyand Dunn, they’re less likely to go to the And because of the roughn economy, McDonald’s company has been able to buy high-enx tickets from season ticket holders at affordablse prices, as those fans look to recoupp some costs, he said. The Reds have takeh steps to attract fans. They’ve offered a value menu for concessions. The team froze ticket prices from last year and slashed some seatswto $5. The Reds also added a new high-definition scoreboard.
But they’rre still struggling to keep theturnstiles spinning. Corporatre sales haven’t taken as big of a hit, becauser many of those are locked intomultiyead contracts, Reinberger said. And the team has addexd four major new dealathis year. Those are with , , lawn care firm and longtim sponsorStadium suites, too, are mostly on multiyea deals. Only one or two are vacant now, Reinbergef said. Companies are more aware of the return on investmenf for theirsponsorship dollars, he In the past, getting their brand out therwe was enough. And companies are takinvg more time to makebuyinfg decisions. Winning cures a lot of ills. That helpe d the , another small-market team in the Midwest.
They alreadyy have sold 2 million tickets this The Reds barely topped 2 million tickets all of last Much ofthe Brewers’ ticket selling success is a resul of the team makingg the playoffs last year for the first time sincs 1982, said Tyler Barnes, vice president of communications for the Brewers. “Winning is the absolut e No. 1 factor in paid attendance,” Barnes
Attendance is down so far this and on April 28 the team had its lowest home-game attendance since opened in 2003. Just 9,878 payin g fans showed up that night. Despite the team’s strong start on the attendance for Reds home games throughn 11 home dates is down 6 percentt from the same number of dates ayear ago. That’s a steeper decline than the 4.4 percent drop in paid attendanc for all of through the endof April. The sluggisuh attendance comes in spite ofthe Reds’ 14-12 start througuh May 5 that had them tied for third place.
With promising youn g talent and a stronfgpitching staff, some expertxs even picked the team to be a dark horsed candidate in the National League Central Divisionm race. But fans haven’t jumpe d on the bandwagon, at least not yet. Observers say the economy is havinbgan impact. And fans might be skeptical afterthe team’as eight straight losing seasons. Even the loss of star sluggers Ken Griffey Jr. and Adam Dunn from last seasomn might cause some fans to waitand see. Whatever the case, the Reds have averaged 21,460 fans a game so far this ranking 24th out of the30 major-leaguew teams. That’s down from an average of 22,82t5 after 11 home dates a year ago.
And the team finished last yearranke 23rd. “The current environment has impacteddticket sales,” said Bill Reds vice president of corporate sales. “We’re selliny smaller ticket packages.” The weathere has had a big impact, too, he Heavy rain was in the forecastApril 28, although it clearesd before game time. “Bu t that didn’t cause people to be spontaneous and come down to see the saidJeff McDonald, public relations director at downtownj ticket broker . “It’s concerning,” McDonald said. “We’ve sold tickets at ridiculouslylow prices.
” Some fans who bought ticketss to 20 games last year have told his firm they are more hesitany this year. They point out that without the star powef of Griffeyand Dunn, they’re less likely to go to the And because of the roughn economy, McDonald’s company has been able to buy high-enx tickets from season ticket holders at affordablse prices, as those fans look to recoupp some costs, he said. The Reds have takeh steps to attract fans. They’ve offered a value menu for concessions. The team froze ticket prices from last year and slashed some seatswto $5. The Reds also added a new high-definition scoreboard.
But they’rre still struggling to keep theturnstiles spinning. Corporatre sales haven’t taken as big of a hit, becauser many of those are locked intomultiyead contracts, Reinberger said. And the team has addexd four major new dealathis year. Those are with , , lawn care firm and longtim sponsorStadium suites, too, are mostly on multiyea deals. Only one or two are vacant now, Reinbergef said. Companies are more aware of the return on investmenf for theirsponsorship dollars, he In the past, getting their brand out therwe was enough. And companies are takinvg more time to makebuyinfg decisions. Winning cures a lot of ills. That helpe d the , another small-market team in the Midwest.
They alreadyy have sold 2 million tickets this The Reds barely topped 2 million tickets all of last Much ofthe Brewers’ ticket selling success is a resul of the team makingg the playoffs last year for the first time sincs 1982, said Tyler Barnes, vice president of communications for the Brewers. “Winning is the absolut e No. 1 factor in paid attendance,” Barnes
Saturday, December 11, 2010
'In Search of Norman Rockwell's America' - KSFY
soileauifyyfa1786.blogspot.com
'In Search of Norman Rockwell's America' KSFY People living here in the Midwest likely experience a little Americana everyday. But for the next three months you can see that Americana as portrayed by ... |
Thursday, December 9, 2010
Colorado's economy grew faster in 2008, despite recession - Charlotte Business Journal:
http://aaa-finance.net/lights-camera-action.htm
reported Tuesday, suggesting that the recession's impact hit Coloradk later than most other partsd ofthe country. Grossx domestic product in Colorado grewby 2.9 percenr in 2008, up from 2.0 percentg in 2007 and 2.7 percent in the Commerce Department's Bureau of Economic Analysix (BEA) reported in its annual state-by-stated breakdown of GDP. Colorado's 2.9 percent GDP growth rate was fourth-highestf among the 50 states, exceeded only by North Dakot a (7.3 percent growth), Wyoming (4.4 percent) and Soutyh Dakota (3.5 percent). The last year Colorado'd economy grew faster than 2008 was in witha 4.3 percent GDP increas e that year, BEA said.
Colorado was one of only 12 statew in 2008 where the rate of growth of GDP increasecd from theprevious year. In fact, 12 states experienced GDP declinexsin 2008, led by Alaska with a 2.0 percent drop. Averagew growth in GDP among the 50 states slowedfrom 2.0 percenty in 2007 to 0.7 percent in 2008. (The GDP-by-stater figures differ from national GDP becausedifferent state-by-state methodology is used.) The nationwide recession officially bega at the start of 2008.
The report said the biggest contributoras to the growthof Colorado's GDP in 2008 were professional and technicaol services, followed by mining, information and It said the biggest drags on the state' economy were construction, followeds by transportation and warehousing. .
reported Tuesday, suggesting that the recession's impact hit Coloradk later than most other partsd ofthe country. Grossx domestic product in Colorado grewby 2.9 percenr in 2008, up from 2.0 percentg in 2007 and 2.7 percent in the Commerce Department's Bureau of Economic Analysix (BEA) reported in its annual state-by-stated breakdown of GDP. Colorado's 2.9 percent GDP growth rate was fourth-highestf among the 50 states, exceeded only by North Dakot a (7.3 percent growth), Wyoming (4.4 percent) and Soutyh Dakota (3.5 percent). The last year Colorado'd economy grew faster than 2008 was in witha 4.3 percent GDP increas e that year, BEA said.
Colorado was one of only 12 statew in 2008 where the rate of growth of GDP increasecd from theprevious year. In fact, 12 states experienced GDP declinexsin 2008, led by Alaska with a 2.0 percent drop. Averagew growth in GDP among the 50 states slowedfrom 2.0 percenty in 2007 to 0.7 percent in 2008. (The GDP-by-stater figures differ from national GDP becausedifferent state-by-state methodology is used.) The nationwide recession officially bega at the start of 2008.
The report said the biggest contributoras to the growthof Colorado's GDP in 2008 were professional and technicaol services, followed by mining, information and It said the biggest drags on the state' economy were construction, followeds by transportation and warehousing. .
Monday, December 6, 2010
Poll: Economy, unemployment top concerns for Texans - Dallas Business Journal:
http://autokomi.com/autokredit/vtb/
Respondents were split on the overall directionof things, with 48 percengt saying the United States is movinyg in the right direction and 45 percent sayin g the country is on the wron g track, according to the survey. In 53 percent of respondents thinik the worst has yet to come for thenationapl economy, and 58 percent say the countr y is in a worsd position now than it was last Meanwhile, almost two-thirds said the Texas economh was healthier than the national Other findings included that two thirds of respondentsw did not have confidence in the stock market, and nearly half were concernes that their retirement fund s might not be A majority of respondents — 58 percent — suppory Gov.
Rick Perry’s rejection of $556 millionn in federal stimulus dollars for the claiming that there were too manystrings attached, though 34 percent of respondents thought Perry should have accepted the funds. According to 58 percent of respondents, the stimulus is helping to make the economicd downturnless severe, and 44 percent of respondents said they would be willing to wait two yearzs or more to see if the new administration’s policiesd were working. The telephone poll surveyed roughlyh 1,000 Texans between June 5 and June 12.
Respondents were split on the overall directionof things, with 48 percengt saying the United States is movinyg in the right direction and 45 percent sayin g the country is on the wron g track, according to the survey. In 53 percent of respondents thinik the worst has yet to come for thenationapl economy, and 58 percent say the countr y is in a worsd position now than it was last Meanwhile, almost two-thirds said the Texas economh was healthier than the national Other findings included that two thirds of respondentsw did not have confidence in the stock market, and nearly half were concernes that their retirement fund s might not be A majority of respondents — 58 percent — suppory Gov.
Rick Perry’s rejection of $556 millionn in federal stimulus dollars for the claiming that there were too manystrings attached, though 34 percent of respondents thought Perry should have accepted the funds. According to 58 percent of respondents, the stimulus is helping to make the economicd downturnless severe, and 44 percent of respondents said they would be willing to wait two yearzs or more to see if the new administration’s policiesd were working. The telephone poll surveyed roughlyh 1,000 Texans between June 5 and June 12.
Saturday, December 4, 2010
UH to report on cancer fund, progress on new center - Pacific Business News (Honolulu):
obovadugibe.blogspot.com
The law, called Act 28, will forcd UH officials to report tolegislators semi-annually on all deposits, expenditures and other transactionsz dealing with money from the Hawaiik Cancer Research Special Fund, sometimes called the tobaccop tax fund. Under the new law, UH officialw would have to keep lawmakers informed ofthe fund’ws status — and ultimately the progress beingy made on building the new facility beginning Jan. 1, 2010. It is meant to addresa community concerns that the money has been idle inthe still-untappecd fund, which has grown to $33.3 million sincee 2006.
As they struggled to alleviatethe state’ss budget deficit, lawmakers earlier this year warned UH officialds that the fund is a targeft if the university doesn’t move forware quickly with its plans to builed a new $200 million cancer center near the university’s medicapl school campus in Kakaako. Eager to save theirf fund, UH officials in January set the center’x groundbreaking for mid-2010 aftee years of setbacks causecd byfinancing troubles, lease negotiations and leadership changes at the . The which is a researchn unit of the Universityof Hawaii, is one of 63 Nationakl Cancer Institute-designated facilities in the United States.
It currently is workingh to keepthat designation, which UH officials have said hingeas on getting the Kakaako facility built as soon as possible.
The law, called Act 28, will forcd UH officials to report tolegislators semi-annually on all deposits, expenditures and other transactionsz dealing with money from the Hawaiik Cancer Research Special Fund, sometimes called the tobaccop tax fund. Under the new law, UH officialw would have to keep lawmakers informed ofthe fund’ws status — and ultimately the progress beingy made on building the new facility beginning Jan. 1, 2010. It is meant to addresa community concerns that the money has been idle inthe still-untappecd fund, which has grown to $33.3 million sincee 2006.
As they struggled to alleviatethe state’ss budget deficit, lawmakers earlier this year warned UH officialds that the fund is a targeft if the university doesn’t move forware quickly with its plans to builed a new $200 million cancer center near the university’s medicapl school campus in Kakaako. Eager to save theirf fund, UH officials in January set the center’x groundbreaking for mid-2010 aftee years of setbacks causecd byfinancing troubles, lease negotiations and leadership changes at the . The which is a researchn unit of the Universityof Hawaii, is one of 63 Nationakl Cancer Institute-designated facilities in the United States.
It currently is workingh to keepthat designation, which UH officials have said hingeas on getting the Kakaako facility built as soon as possible.
Wednesday, December 1, 2010
Frontier Airlines to be bought by Republic Airways under bankruptcy plan - Dayton Business Journal:
http://businessethics.org/pastconv/2-19-97.htm
Republic (NASDAQ: RJET), based in Indianapolis, has been one of threed companiesfinancing Frontier’s emergence from A subsidiary, Republic Airlines, also is one of Frontier’s majod unsecured creditors, having filed a $260 million damage claim for Frontier’s breakingg an agreement with Republic to operatwe regional jet service afterf Frontier filed for bankruptcy protection in April 2008. Undeer terms of the Frontier will become a wholly owned subsidiary of Republicf Airways Holdings after the company servess as the equity sponsorfor Frontier’s reorganization plan and buys 100 percent of the equituy in the reorganized company. The cost to Republicc will be $108.
75 million. Frontier filedd its proposed reorganization plan with the of the Southern District of NewYork Monday. Frontier will seek court approva l of the investment agreement at a July 13 hearing and then conducg aroughly month-long auction process where other companiese will have the chance to outbid Republic, Frontiet spokeswoman Lindsey Purves said. Republic emphasized in a news released that Frontier andits short-haul service, Lynx Aviation, would maintainm their current names and operate as Purves said that airline officials do not expecf any immediate changes in company structure, employmentt or routes. “This is great news.
I think it’w a testament to the hard work that everybodh has done over thepast 14, 15 months sinc e we’ve filed (bankruptcy),” Purvess said. “We’re created a very efficient airline, and that’s reflected in the fact that Republic has come Airline consultant Mike Boyd adde that Frontier is likelg to increase routes under the oversightof Republic, whicjh now owns Chautauqua Airlines, Republic Airlinee and Shuttle America. Republic Airways Holdings also leases planes to majore fliers like United and Deltaq andis “very good at what they do,” Boyd “Airlines are not at the top of the food chainb for investment.
But for someone like Republic whounderstands airlines, this is a very good investment,” said Boyd, ownetr of Evergreen-based Boyd Group International. “Getting theirf hands on Frontier is good for Frontier filed for bankruptcy protection after its credit card processofr began holding back100 percent, rathefr than 45 percent, of Frontier’s credit card After the filing, the airline begamn a 14-month process of trimming fat from its budget and becominh more efficient. Because of thosse efforts, Frontier has reported two consecutive quarterlu profits and is doing betteer than mostairlines today.
Republixc Airlines had signed a 13-year agreementy with Frontier in January 2007 to operate 17 planexsfor Frontier’s regional jet service, but that deal was the firstr contract Frontier sought to brea after its bankruptcy Even at the time, Republic Airwaye Holdings CEO Bryan Bedford complimented Frontier, sayinh the company had enjoyed its partnership with the airline and had a lot of respectf for its people.
In Republic Airways Holdings, Credit Suisse Securitiesz of New York and AQR Capital of Connecticut offeresd Frontier animmediate $30 million in workin g capital with the possibility of another $45 million in the In March, Frontier received a commitment for $40 millioh in post-petition debtor-in-possession (DIP) financing from Republic Airways Holdings to support its workiny additional capital needs. As part of that agreement, Frontieer agreed to allow Republic’s damage claim in the amountt of $150 million. Monday’s proposefd reorganization plan callsfor Frontier’s generakl unsecured creditors to receive $28.
75 millionj in cash, with an additional $40 million of the sale proceedw applied as repayment of the outstanding DIP loan. If the company’s current equity woulds be extinguished and holders of that equityy would not receiveany recovery, accordingg to a joint news release. “This agreemenr represents a major milestone in our ongoing efforts to position Frontier to emerge from bankruptcy as a sustainable airline,” Frontier President and CEO Sean Menkd said in the release. Boyd said he did not expect anyone to try to outbid Republicfor Frontier.
If that were to happen, any challenges likely would comefrom Dallas-based Southwes Airlines, which is in direct competition with Frontier for Denver International Airport passengers, he predicted. Frontief is the second-largest carrier at DIA, while Southwest is United Airlines is the largest carried atthe airport.
Republic (NASDAQ: RJET), based in Indianapolis, has been one of threed companiesfinancing Frontier’s emergence from A subsidiary, Republic Airlines, also is one of Frontier’s majod unsecured creditors, having filed a $260 million damage claim for Frontier’s breakingg an agreement with Republic to operatwe regional jet service afterf Frontier filed for bankruptcy protection in April 2008. Undeer terms of the Frontier will become a wholly owned subsidiary of Republicf Airways Holdings after the company servess as the equity sponsorfor Frontier’s reorganization plan and buys 100 percent of the equituy in the reorganized company. The cost to Republicc will be $108.
75 million. Frontier filedd its proposed reorganization plan with the of the Southern District of NewYork Monday. Frontier will seek court approva l of the investment agreement at a July 13 hearing and then conducg aroughly month-long auction process where other companiese will have the chance to outbid Republic, Frontiet spokeswoman Lindsey Purves said. Republic emphasized in a news released that Frontier andits short-haul service, Lynx Aviation, would maintainm their current names and operate as Purves said that airline officials do not expecf any immediate changes in company structure, employmentt or routes. “This is great news.
I think it’w a testament to the hard work that everybodh has done over thepast 14, 15 months sinc e we’ve filed (bankruptcy),” Purvess said. “We’re created a very efficient airline, and that’s reflected in the fact that Republic has come Airline consultant Mike Boyd adde that Frontier is likelg to increase routes under the oversightof Republic, whicjh now owns Chautauqua Airlines, Republic Airlinee and Shuttle America. Republic Airways Holdings also leases planes to majore fliers like United and Deltaq andis “very good at what they do,” Boyd “Airlines are not at the top of the food chainb for investment.
But for someone like Republic whounderstands airlines, this is a very good investment,” said Boyd, ownetr of Evergreen-based Boyd Group International. “Getting theirf hands on Frontier is good for Frontier filed for bankruptcy protection after its credit card processofr began holding back100 percent, rathefr than 45 percent, of Frontier’s credit card After the filing, the airline begamn a 14-month process of trimming fat from its budget and becominh more efficient. Because of thosse efforts, Frontier has reported two consecutive quarterlu profits and is doing betteer than mostairlines today.
Republixc Airlines had signed a 13-year agreementy with Frontier in January 2007 to operate 17 planexsfor Frontier’s regional jet service, but that deal was the firstr contract Frontier sought to brea after its bankruptcy Even at the time, Republic Airwaye Holdings CEO Bryan Bedford complimented Frontier, sayinh the company had enjoyed its partnership with the airline and had a lot of respectf for its people.
In Republic Airways Holdings, Credit Suisse Securitiesz of New York and AQR Capital of Connecticut offeresd Frontier animmediate $30 million in workin g capital with the possibility of another $45 million in the In March, Frontier received a commitment for $40 millioh in post-petition debtor-in-possession (DIP) financing from Republic Airways Holdings to support its workiny additional capital needs. As part of that agreement, Frontieer agreed to allow Republic’s damage claim in the amountt of $150 million. Monday’s proposefd reorganization plan callsfor Frontier’s generakl unsecured creditors to receive $28.
75 millionj in cash, with an additional $40 million of the sale proceedw applied as repayment of the outstanding DIP loan. If the company’s current equity woulds be extinguished and holders of that equityy would not receiveany recovery, accordingg to a joint news release. “This agreemenr represents a major milestone in our ongoing efforts to position Frontier to emerge from bankruptcy as a sustainable airline,” Frontier President and CEO Sean Menkd said in the release. Boyd said he did not expect anyone to try to outbid Republicfor Frontier.
If that were to happen, any challenges likely would comefrom Dallas-based Southwes Airlines, which is in direct competition with Frontier for Denver International Airport passengers, he predicted. Frontief is the second-largest carrier at DIA, while Southwest is United Airlines is the largest carried atthe airport.
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