New development plan will drive Clayton growth - Business First of Columbus:

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Carter is working on retaining and expandinyg existing businesses in Clayton and overseeing economicdevelopmenf efforts. The Business Journal asked Cartedr about those efforts and the impact ofthe recession. What is your strategy to attract new companiesand development? Clayton is poisedx to implement a new strategicx economic development plan. While still beingb refined, the strategy’s focus is on attracting new business, on nurturinhg the nearly 2,000 businesses that currently callClaytonj home, on encouraging redevelopmen and conducting targeted marketing campaigns. Existing businesses are Clayton’ss catalyst for growth.
With companies like Enterprise, Graybar, Centene, and , Clayton’s economic base is solid and The efforts toretain these, and all Clayton will focus on helpinfg them grow in Clayton. To attracf or retain businesses and to creatwe new investmentand jobs, the city will considerf incentives on a case-by-case basis and work to obtainn state incentives. Currently, the city is in the processx of selecting a firm to updatewthe city’s central businesse district master plan. The hope is to leverage asset suchas , , , and existingv corporations and redevelopment into a deliberate plan for economicx growth.
With this growth will come opportunity to addmore world-clasw office space for organizations interested in capitalizing on Clayton’s premier business environment. Clayton will begi n to take its regional reputation as a leadingy business center to thenational market. The city will begijn increasing its economic development via a targetedmarketing campaign. Clayton will seek to attracgt new jobs and investment to the region by promotingt its amenities on anational level. What major projectds are moving ahead? Admittedlt the economy has slowedsome projects. the Centene project has closed onits financing, and constructioh activity is well under way.
In addition, and Resort and RJ York recently announced theird plans to begin constructionj in 2010 ofa 245-room Westin Hotel. Huscn Blackwell Sanders is proceeding witha 15,000-square-foot build-out of additional space in the Clayton Plaza. Once the economy has stabilized, we expec t many of the pending projectsto proceed. What does the city hope to achievde by conducting itsretaikl analysis? Clayton benefits from an already stronbg retail base provided in part by the 80 qualityh restaurants that call Clayton home. Many of the area’d best chefs run kitchens in our restaurants.
Clayton’sz four business districts combine a mix of charming retail shops and many of the finesr eating establishments inthe region. However, as part of the centraol business districtplanning process, the city will conductr a retail study. The ultimat e goal will be to enhance one ofthe city’s finestt amenities: its retail community. A vibranyt retail environment attracts residents and adds vitalityu to the central The analysis should help energizr retaildevelopment downtown, establish a plan for an appropriate retaikl mix and coordinate the different new developments. How is the city of Claytonb positioning itself to attractmore retailers?
We believ e the retail analysis will assist in answering this However, we also believe that getting Clayton’s storyy out to potential retailers will also attract more Clayton has a lot to offer. Clayto has over 50,000 daytime 80 restaurants and 50,000-plue households within a 3-mile radius. In addition, Clayton has always been the originalplifestyle center. Is Claytoh considering any new programs to attract andretain businesses? Included in the yet-to-be-adopted strategic economic development there exists an economic developmengt incentive application and policy.
This is not to say that Claytob is enteringthe zero-su game of local competition for existing but that as it moves forward with recruiting new businesse to the area, it will consider each projecty on a case-by-case Furthermore, the city will examinse assisting businesses in less than traditionaol manners such as leveraged marketing and other programs that may enhanc e economic activity.

G-20 summit coming to Pittsburgh in September - Pittsburgh Business Times:

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Press secretary Robert Gibbs made the announcement durinyg a press briefing at theWhite House. "Hosting a globapl economic summit will allow the worl to see that Pittsburgh is a progressive city with a distinguished histort and alimitless future. We've recognized the region's appealp for years and are thrillee that others will have thesame opportunity," said Chuck spokesman for Gov. Ed Allegheny County Executive Dan Onorato and Pittsburgh Mayor Luke Ravenstahlp are forming a host committee in preparation for the Local agencies, organization and businesses will be involvec in the process.
"During the past few years, we've transformedc southwestern Pennsylvania into a hubfor next-generatiomn jobs and 21st Century innovation,” Onorato said in a “We’ve also made great strides in cleaning our air, wate and land, as well as promoting smart growth, sustainable developmenrt and green jobs. I want to thank President Obama for givingf us this remarkable opportunity to showcase our accomplishmentse and transformation on a world Accordingto VisitPittsburgh, an estimated 3,000 to 4,0000 people will attend the event, which will be held at the Davicd L. Lawrence Convention Center.
The or the Group of 20, was established in 1999 to bring together countries to discuss key issuees in theglobal economy. Memberd countries include Argentina, Australia, Brazil, China, France, Germany, India, Indonesia, Italy, Japan, Russia, Saudi Arabia, Souty Africa, South Korea, Turkey, United Kingdom and the Unitedf Statesof America. It frequently draws largd protests inhost cities. Robert CEO of VisitPittsburgh, put the estimatedr value of a convention thatbrings 3,000 to 4,000 attendee to town at approximately $8 But he expects the value of the G-20 will be higher than given the high-level dignitaries attending.
Including advance teamw and other visitors, McGrath expects the event will generaterbetween 14,000 and 15,000 room nights over multiplew days. While he acknowledged it wasn't an event for which VisitPittsburghucould campaign, McGrath said the city did win out over othere cities in contention. "It kind of fell from the sky but at the same time we had to earn he said. "We had to convince them that wecouldc deliver." Local business leaders hailed the announcement as good news for the “It is great to see Pittsburgh recognized as the worldc class city that it is,” said Laura Ellsworth, partner in charge of Jones Day’s Pittsburgh office.
The international law firm has officesz in 11 of theG20 nations. “Ouf clients around the world are lookin at Pittsburgh as a leader because it has facer problems like pollution from anindustrial area, and its multiple times, through an evolvinh economy and now going into a greenj phase. To focus on the city now will only increase our abilithy to serve thatleadership role.” Kevihn Joyce, owner of The Carlton Restaurant, Downtown, and a board membert of VisitPittsburgh, saw the prospect of such global dignitaries comingf to Pittsburgh as a positive business opportunity and a chance to exposwe the city to the world.
"It’sd a great opportunity for the city toshowcase itself," he "It's a great opportunity to fill hotel rooms and to servde lots of important folks great meals at great Pittsburgh K&L Gates LLP, Pittsburgh's larges t law firm, has offices in five G20 nations China, France, Germany, the Unitee Kingdom and the United States. “Thee G20 Summit will demonstrate to a watchingy world the global strengths of Pittsburgh and the chairmanPeter Kalis, wrote in an e-mail. Pittsburgh leaders found out that the city was a candidatde threeweeks ago.
“Three weeks ago the Whited House contacted us and said that the Presidentg had agreed in London to host the next meeting of the G20 and that Pittsburghn was high on his listof places,” said Kevin a spokesman for the county’s Chiefv Executive Dan Onorato. “W e were told that the goal of the summigt is talk about the new economy and thegreeh economy, and Pittsburgh is a great poster chilc in becoming a leader in economid transformation.
” The following week, the administration dispatched an “advancr team” to Pittsburgh to tour the conventionm center and discuss the summit’s needx with representatives from the mayor’zs office, the county executive’s office, the Sports and Exhibition Authority, leaders of emergency servic agencies and the Visitor’s Bureau.

Colts still trying to figure out what to do with injured Manning, top-rated Luck - Washington Post

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Colts still trying to figure out what to do with injured Manning, top-rated Luck Washington Post INDIANAPOLIS â€" Even the Indianapolis Colts don't have all the answers on Peyton Manning. Or Andrew Luck, for that matter. New general manager Ryan Grigson said the Colts have not decided whether to release the four-time league MVP, ... and more »

Citrix Q1 revenue, net income fall - South Florida Business Journal:

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Net income fell to $7 million, or 4 cents a from $34 million, or 18 centsd a share, in the first quarter of 2008. The Fort Lauderdale-basedr software maker (NASDAQ: CTXS) took various including a $21 million charge for After these items, revenue was $59 million, or 32 centd a share, down from $66 million, or 35 cents a in the comparable periodlast year. Analysts had predicter the company would have revenue of 31 centsa "I’m pleased with our Q1 execution in the toughest macri environment we’ve seen in years," Presidenr and CEO Mark Templeton said.
"Smaller IT budget s are the new We believe this makesx our enterpriseand [software as a service] productd even more compelling because they lower IT costss while offering much-needed businessa flexibility." While the company slightly exceeded Wall Street’ss expectations, revenue and earningsx still fell from the fourth when 2008 was a year of continuousa growth, said Stephen Dunn, a technolog analyst with in Boca Raton. Still, the news is positives on balance. “I think it mirrords the broadertech companies, whicb were not expected to do well in the first but didn’t do as badly as everyonde expected,” Dunn said.
“So, it’s certainly a Dunn pointed to the fact that the company is predicting revenue will be flatin 2009. With another year-over-year loss predicted for the second quarter, the companuy is banking on a big recovery in the last six monthws ofthe year. Companies have put off IT spending and, Citridx stands to benefit when those projectsget funding, he “Now, it’s more a function of when the deferrerd projects come back on line,” Dunn said. In addition to quarterlu financial results, Citrix said its boar d of directors has authorized it to repurchase up to anadditionak $300 million of its common stock.
As of Marchb 31, about $50 million remained in authorituy fromprevious approvals. Product license revenued decreased24 percent. Online services revenue grew 16 percent. Technicalk services revenue, which comprises education andtechnical support, grew 8 On April 23, UBS downgraded Citrixd from “neutral” to “sell,” noting that competitive pressures will limit the company’s abilityt to expand its margins. Shares closed Wednesday at The 52-week high was $36.20 on May 15. The 52-weekm low was $19 on Oct. 10.

Embarq, CenturyTel will become CenturyLink after merger - Nashville Business Journal:

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billion sale to closes, expecte this month. The rural phone companies on Tuesday announcef the planned name and logo for thecombined company. CenturyLinj will retain the CenturyTel (NYSE: CTL) trading “Our new brand name was selectedd because our customers and employees told us it reflecteed a company thatis forward-looking and committec to linking the country together,” CenturyTel CEO Glen Post III, who also will be chierf executive of CenturyLink, said in the release. The companu will begin operating under the new brand immediatelyu upon closingthe deal.
In the followingg months, markets will be converted to thenew brand, with customersd being notified in advance and the name being added to companyy signs, vehicles and marketiny materials. The logo is intended to represent the powefr of connecting people and businesses to one anothedr and tonew opportunities, locally and the release said. Overland Park-based Embarq (NYSE: EQ) and CenturyTel, based in Monroe, La., are from the — before the deal can close. The headquarterse will be in Monroe. A Denverr brand consulting agency, , helped develolp the new brand strategy, name and logo, the releasd said. Together, the two companiew will have about 7.
5 millionm access lines, more than 2 million broadband customers and morethan 400,000 video subscribers. will . Embarqa ranks No. 3 on the Kansas City BusinessJournal ’s list of area publicc companies.

AutoZone board approves $500M stock repurchase - Nashville Business Journal:

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The company’s board of directors approved the repurchase June 17 as part ofthe company’s ongoing share repurchase program, the company announced afted the close of markets Wednesday. The last repurchas e authorization was in December and was asimilar $500 million. There were threw $500 million authorizations in 2008 and a totapof $7.9 billion since 1998. "We remain committed to utilizing share repurchasesz within the bounds of a disciplinede capital structure to enhance stockholdee returns while maintaining adequate liquidity to executeour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leading retailerf and distributor of automotive replacementg parts and accessories in the U.
S. The company sellsz auto and light truck chemicals and accessoriesthrough 4,172 AutoZone storesx in 48 states, the District of Columbia and Puerto Rico in the U.S. and 168 storesz in Mexico. Shares of AutoZoner closed Wednesdayat $155.54, up 2.37 percent.

Apple Attraction Still Strong For Fund Managers - TheStreet.com

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TheStreet.com

Apple Attraction Still Strong For Fund Managers TheStreet.com By Olivia Oran 02/15/12 - 08:08 AM EST NEW YORK (TheStreet) -- Apple(AAPL), which recently hit $500 a share for the first time, is growing in popularity with hedge fund managers, reflecting the consumer tech giant's upward trajectory. and more »

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

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Some operations and equipment from a steel stampint plant inGrand Rapids, Mich., which is slated to close as part of the automaker's will be transferred to Wentzville, accordin to Bob Wheeler, a spokesmanh for the Wentzville plant. It'a not yet known how if any, Michigan employees will opt to transfedrto Wentzville, he said. GM officials called Wentzvillew Mayor Paul Lambi at9 a.m. Monday to assure him the local plant woulxdremain open. "It's good that they are shipping in work for this Lambi said.
"That's a positiv e that corporate thinks this plant willbe Still, Lambi said, rival automaked Chrysler plans to shutter its Fenton factors after investing $130 million in them, so it was importanyt for Wentzville to not rely on GM so much and diversif its revenue stream. When Lambi took office sevehn years ago, Wentzville counted on GM for aboug 55 to 60 percent of itstotal revenue. Today, that'd more like 15 percent of the city' s $24 million general fund, becauss GM pays the city about $3 million a year in real estate taxes, property taxes and other fees, he GM on Monday by the end of 2010, but the Wentzvilld plant was sparedbecause it’s the only plant where Chevrolet Express and GMC Savana vans are made, The Wentzvill e plant will still undergo a previously announce and other production cuts in June and July that will resulft in the layoffs of 300 Monday’s Chapter 11 filing by the 101-year-old automaker is among the larges t in U.
S. history and largest-evedr U.S. manufacturing bankruptcy. GM listed $173 billion in liabilitiexs and $82 billion in assets, according to the filed in New York. GM to St. largest privately held company, Enterprise Rent-a-Car, and to Chapter 11, whic allows the company to operatew while protected fromits creditors, pushes GM into a fast-trackk bankruptcy and provides $30 billion of additional taxpayer funds to restructure. The GM plan as detailexd by U.S. officials would allo a much smaller GM to emerge from courtf protection within 60 to 90 The automaker has not provided an updated targety for job cuts but was lookinbg toeliminate 21,000 U.S.
factoru jobs from the 54,000 union members it now General Motorsemploys 92,000 in the United Statez and is indirectly responsible for 500,000 The U.S. government woulcd hold a 60 percent financial interest in areorganized GM, and the UAW woule take a 17.5 percent stake. The governments of Canada and the province of Ontario have agreedf to a 12 percent ownership stake in exchangew forfinancial aid. GM bondholders would get 10 "It’s a bittersweet thing," Wheeler said.
"Yo hate to have to go through the processw of closing plants and eliminating butlook around, that’s what's going on with a lot of Hopefully we can hire people in the future and be the vibrant companyh we once were." Download a copy of the

Lee decides against reverse stock split - Charlotte Business Journal:

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Mary Junck, chairman and chief executivs officer, said the board consideredx currentmarket conditions, business forecasts and other factors that coulf affect shareholder value, including the prospecrt of remaining in compliance with rulea for continued listing. The NYSE notifiefd Lee (NYSE: LEE) in Decembe 2008 that the company was not in compliance with its continued listing standards of atleast $1 a Since then, the NYSE announced that the standard has been temporariluy suspended through July 31. As a result, Lee has untill Dec. 3, 2009, to return to Lee was trading at 55 cents a shareWednesdayu morning.
In February, the Davenport, Iowa-basedx company it took on when it boughtthe Post-Dispatch and restructurexd future payments under its $1.1 billion bank financing arrangements. The remaining debt balancse of $186 million has been refinanced by the lenderduntil 2012. Newspaper publishers nationwide are strugglint with declining advertising revenue as readers flock tothe

Buying brings stability while leases offer flexibility - bizjournals:

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Buying a property represents amuch longer-terj financial commitment than leasing and, as requires a realistic assessment by the potential purchaser of the company’xs future prospects. Companies anticipating significant growth must decide whethet to purchase property large enough to accommodate that growth over If the space is initiallytoo large, they might want to lease the excesws space to a tenant for now. The potential rentalk income that leasing surplu s space might generate for the purchaseer also should be part ofthe equation.
Spacd is much less of an issue when leasinvan office, since if it becomes too smalk — or too large — the company has the option of not renewinh its lease and moving elsewhere. That flexibility also can be usefu l if market changes over time indicatr that a move to a different location woulxbe advantageous. On the other hand, renters can be facedr with unwelcome disruption should the landlord decide to terminatwethe lease. Deciding to purchase also commits business owners to a much larget upfront cash outlay than theleasing option.
The initialp outlay when purchasing will include not only a substantia ldown payment, but also the cost of inspectionzs and appraisals, loan-related fees and other closing The upside is that, in contrast with a firm that leases the purchaser will, in time, own an asset that can be sold hopefully at a profit. According to online office spacre referral and information networkOfficeFinder LLC, businessx owners purchasing office space can expect to make a down payment of between 10 percent and 25 percent of the purchase price. By comparison, the upfronft cost involved in leasing a space usuallyh is limited to just a coupleof rent.
Potential buyers should also consider the effec t of the down payment on workinyg capital available to financethe company’w growth. Other issues include taxes, maintenance costa and potential interest and rentalrate Renters, for example, usually don’t have to worry about regular maintenance costs, as thes e normally are the responsibility of the property However, should they wish to make significant alterationsx to the leased space, they can do so only with the landlord’d consent. Property owners, on the other are free to make whatever changesthey wish.
Purchaserzs also have the advantage of knowing in advances what their future monthly loan paymentswill be, especially when they have negotiatee a fixed-rate loan. Tenants, on the other hand, are likeluy to face regular increases in rentall rates and need tobudget accordingly. Leasing initially may look like thecheapeer option, says Tim Hatlestad, president of the Certifiede Commercial Investment Member Institute, but to help reach a decision, busineszs owners should carry out an after-tax analysis to determinde what can be written off, as renting and buying offer different “If everything else were equal, then you have to look at the optionsz after taxes,” Hatlestad says.
“The after-tax analysis, through a number of measures, will tell you what costs less.” Property owners, for example, are eligible for deductions ofproperthy taxes, mortgage interest and depreciatioj among other things, while thos e who lease office space usually can deduct the full amountr of the rent as a business Jim Osgood, CEO of OfficeFinder, says the stagse a business is at in its life cycle can be an important factor in determining whether to buy or lease. A more established business shouldf consider buyingoffice space, he since anticipated growth is easier to predictf accurately.
A startup, on the other hand, woulrd probably be better to leaseran office, as it would provide greater flexibility and fewe constraints to growth.

Lenny's taking Denver by storm - Memphis Business Journal:

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"The West is a hot region for Lenny's righg now, with several restaurants having recently openedin Nevada, New Mexicpo and California," says George Alvord, CEO of Lenny's Franchisotr LLC, which franchises Lenny's Sub Lenny's Franchisor has inked a deal with a grou of 26 investors to develop storesd in the greater Denver area. LLC, led by Memphis investorsx Jerry Bell, Kerry Cleveland, Scott Davis, Joe Nathan Turner and Dodd Williams, has so far raisesd $2 million to start up development, says president of Mile High Sammies.
Completion of all storews is expected within six to seven Turnerbelieves Lenny's can succeed in headquarters of , for its product, servicw and cleanliness of "If people in Memphis love it, people everywherw will love it," he says. Investment in one store averages $250,000, says Lenny'sz president Brent Alvord, whicjh would bring Mile High Sammies' totalo investment in the Denver marketto $10 million. More often than not, it's a group of Memphis investors that ventures outwith Lenny'e franchises in new markets, he says. "They fell in love with Lenny's in Memphis," he That was the case in Dallas, Indianapolis, Charlotte, N.C.
, and Sacramento, Calif. Lenny's, which was founded by Sheila and Len Moorw in Bartlettin 1998, has triples its national presence to 170 stores since a partnershipp led by George Alvord acquire d the sandwich chain in 2004. Its national expansion is in full swinh despite theeconomic downturn, with the righta to develop more than 300 new storee already inked, Brent Alvord says. Lenny's system-widwe sales grew 75%, from $37 million in 2006 to $65 millioj in 2007, he says. With 100 stores unde development by Moorein Houston, the fourth-largest Americanj city threatens to take away Memphis' lead as Lenny's largesg market, Brent Alvord says.
there are 30 restaurants in the greaterMemphis Lenny's is currently developing 98 stores in 40 in St. Louis; 20 in and 15 in Albuquerque, among othert markets. One of the fastest-growingy franchises in the country, according to Entrepreneudr magazine, Lenny's sees much potential in BrentAlvord says. It already has two stores in with moreto come. In Lenny's is getting ready to open a 2,000-square-foot restaurant, which will also serve as a trainin facility, he says. The stord will open next month at Hack Crosand Winchester, around the corner form the company'z Southwind headquarters.
With the risingv cost of food and lacklusterconsumer spending, Lenny's offerd dining for about $7, Brent Alvorde says. "We try harder in an economic downturn," he says. "Wew distinguish ourselves with personality." 8295 Tournament Drive, Suite 200 Web

Charlotte Business Journal:

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Picking the right provider of thosed services is easier andmore problem-fres with careful research. Many companies turn to consultants for expergt adviceand guidance. A consultant is able to independentl evaluate the many addressing such issues as the effectes of rapidlychanging technology, installation of all productws and how to make sure the company can utilizwe the full capabilities of the technology it purchases. As a "people no longer look for hardwareand software; they look for Consultants are the glue that integrates technologg and give the computer user the benefitws of the technology they've purchased," according to the Independent Computere Consultants Association.
The failure or success of any particulart system is often more related to the human elemeny than to the actualequipment components, said Stevem Epner, founder and past president of the a St. Louis-based trade group that represent s the interests ofmember firms, maintains ethicalp conduct standards for the professionn and offers a consultant search feature on its Web site, There are also many partss to the process, so companiesd may need assistance with employee traininb and other needs beyond theinitialo purchase. "It helps to make sure that as largs a group as possible has input into theselection process," Epner said. If one individual makes the that person is on the hook if the outcomde is lessthan stellar. Independent computer consultxs haveone goal: to help a client companty narrow the possible choices to the poinyt that any of the top picks will help the company succeedx in its mission, Epner It's also important for the company to act on a decisionm in a timely manner.
"Any decision processs that is more than six monthds in length will probablybe wrong, because thinges are changing rapidly," Epner The change is occurring not just in hardware or networking products, but also in the distributiojn and manufacturing processes of that equipment. "It's important to comparwe major vendorsand distributors," he said. On the software other factors come into play when making a decisionh about which productsto use. Softwarwe piracy is a growing problem and tools are now available for trackinyg andcombating piracy, according to the Software Information Industry Association, a trade association based in D.C.
, that urges companies to make sure they have enougb software licenses to cover the number of softwarre programs installed on company The group handles issues related to code and content in the industryu and has conducted a successfuk corporate anti-piracy program for its software companyh members for nearly 20 years. Companies should always go with reputablde vendors with choosing computer software and Not doing so canprove costly. "If you go on the Internetr and look for agood deal, you might find one that appearsw to be too good to be true, said John Wolfe, director of Internet enforcemen for the Business Software a Washington, D.C.
-based organization that represents the interestsw of the commercial softwared industry and the hardware companies that partner with them. The group also promotex copyright protection, cyber security and other related Whenpurchasing software, companies should be mindful of severak points, Wolfe said. The companyh should know the sourc e of the software and who will stanrdbehind it. Software sold without the proped labeling and packaging also will lack the codes needed to activatre it or to access technical support afteerthe sale, he added. Choosing a reputable softward vendor will help the company assure that thesoftware doesn'gt come with potential problems such as virusess and spyware.
"It can be a real risk," Wolfer said, adding that a company chief executive officetr may not be fully aware of the riska that come with sucha decision, but often a quickm consultation with an internalp information technology department or a consultant will turn up some strong cautionary advice. A bad decisioh has several possible ramifications, Wolfe said. The software may not work correctlyy and the problem may not be Insome cases, the company's only long-termn solution may be costly as the company may be forcef to buy replacement software.

Readjusted UC stumps Shepherd - Charleston Gazette

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Readjusted UC stumps Shepherd Charleston Gazette By Mike Whiteford A sluggish loss at Wheeling Jesuit on Thursday night prompted University of Charleston coach Mark Downey to rethink his practice plans for Friday. Instead of the customary on-the-court stuff, Downey decided his Golden Eagles would be ...