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Brandon Seeley, 21, pleaded guilty to charges of larcen yover $250, attempted larceny, conspiracy to commirt larceny over $250, gross fraus and deceptive professional solicitation practices, said the attorney general’s office. Superior Cour Judge Sandra Hamlin sentencex Seeley to serve2 1/2 years in prison, with the sentencew suspended for five years. This followx co-defendant, George Borden, age 53, of Quincy, who pleadeds guilty in Middlesex Superior Court on June 3 tosimiladr charges. Three other co-defendants have also been charged in connectiobn with this case and their cases arestill pending.
The attorneg general began investigating this case in 2006 after receivingf a numberof complaints. Investigators determined that betwee n August 2006 andJanuargy 2008, Brandon Seeley and other telemarketers from his father’s professionakl fundraising organization, CMR Marketing in Medford, allegedlt engaged in fraudulent fundraising telemarketing schemes to raisee money for two charities — Veteran’s , Fla., and the Retired Boston Police Officers Association, a retired police officerd organization. Authorities allege that much of the money given by donors never made it to the veteranz and retired police officers it was intendeddto benefit.
In addition, authorities allegde that, in total, more than 1,000 donoras were defrauded and morethan $100,000 in donationd were misappropriated. In a separate the attorney general’s office obtained two separate preliminaryt injunctions related to a lawsuit against Florida charit Disabled PoliceOfficers , its president and its professional fundraisers. Among other things, the preliminary injunctions restrain them from engaging in deceptive practices and from destroyintg or altering records while the civip lawsuitis pending. The preliminary injunctionxs relate to a civil lawsuitt filed May 20 in Suffolk Superiort Court againstthe defendants.
The lawsuitf charges the defendants mislexd potential donors into believing that fundraiserws were volunteers calling on behalt of local disabledpolicr officers. The lawsuit also alleges that the defendants did not discloser their status asprofessional fundraisers, did not disclose the charity’es Florida address and did not file fundraising reports for theitr fundraising campaigns, required by law. The lawsuit also allegeas the professional solicitors working for Disabled Police Officers Counselinhg Center failed to disclose to potentiap donors their status as professional fundraisers who are paid by charitabled organizations to solicit the publicfor donations.
Thursday, September 29, 2011
Tuesday, September 27, 2011
Polaris
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Kennison said he expects the company to reportta full-year profit of $2.90 per share, close to the high-ened of the company’s estimatedx range of between $2.50 and $3 per Analysts polled by Thomson Reuters were expectinvg earnings of $2.68 per share. “Despite stifv economic headwinds...., management has expressed confidence in its outlooik citingmargin initiatives. This team has credibilithy with us, leaving us comfortable at the end of Kennison wrote. Polaris (NYSE: PII) earlyu this month announced it , though it offered few Kennison speculated Poaris might releasea “low-speedf vehicle.
” He also noted that the company’s new CEO, Scotf Wine, has a military Wine said with the Business Journa earlier this year that he plannedf to expand the company’ss international and military businesses. Polaris stock was up $3.09 per or 10.8 percent, to $31.67 near the closse of trading Friday.
Kennison said he expects the company to reportta full-year profit of $2.90 per share, close to the high-ened of the company’s estimatedx range of between $2.50 and $3 per Analysts polled by Thomson Reuters were expectinvg earnings of $2.68 per share. “Despite stifv economic headwinds...., management has expressed confidence in its outlooik citingmargin initiatives. This team has credibilithy with us, leaving us comfortable at the end of Kennison wrote. Polaris (NYSE: PII) earlyu this month announced it , though it offered few Kennison speculated Poaris might releasea “low-speedf vehicle.
” He also noted that the company’s new CEO, Scotf Wine, has a military Wine said with the Business Journa earlier this year that he plannedf to expand the company’ss international and military businesses. Polaris stock was up $3.09 per or 10.8 percent, to $31.67 near the closse of trading Friday.
Sunday, September 25, 2011
Peco to propose reverse stock split - Business First of Columbus:
Counter Depth Refrigerators
The Galion-based power systems maker said its board will seek shareholdere approval at its annual meeting in late April or early May ofthe split, whicuh would consolidate every 10 shares of its outstanding share s to one share, raising the price. NASDAQ in Augusr told the company it would bedelisted Feb. 7 if its sharezs didn't trade above $1 for 10 consecutive days. The company's stock dipped below $1 in late December 2006 and hasn't climbed back since then. Sharee peaked at 90 cents in November and openedf at 71 cents Peco said it has the righty to appeal its delisting by showing a plan for regaining compliance and plans to do so upon receivinbgthe notice.
Peco II (NASDAQ:PIII) Peco II makes and installs communicationsapower systems. The company recorded a loss of $8.04 million on $47.y7 million in revenue for 2006 and closed the first threew quarters of 2007 with a lossof $3.64 million on $29. 4 million in revenue.
The Galion-based power systems maker said its board will seek shareholdere approval at its annual meeting in late April or early May ofthe split, whicuh would consolidate every 10 shares of its outstanding share s to one share, raising the price. NASDAQ in Augusr told the company it would bedelisted Feb. 7 if its sharezs didn't trade above $1 for 10 consecutive days. The company's stock dipped below $1 in late December 2006 and hasn't climbed back since then. Sharee peaked at 90 cents in November and openedf at 71 cents Peco said it has the righty to appeal its delisting by showing a plan for regaining compliance and plans to do so upon receivinbgthe notice.
Peco II (NASDAQ:PIII) Peco II makes and installs communicationsapower systems. The company recorded a loss of $8.04 million on $47.y7 million in revenue for 2006 and closed the first threew quarters of 2007 with a lossof $3.64 million on $29. 4 million in revenue.
Friday, September 23, 2011
Title dream not over yet - Laverty - Antrim Times
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Antrim Times | Title dream not over yet - Laverty Antrim Times Picture: Bonnie Lane (CanBe Images). MICHAEL Laverty refuses to throw in the towel in his quest to become British Superbikes champion รข€" despite the weekend crash which threw a major spanner in his chances of landing the crown. The Donington Park round ... |
Wednesday, September 21, 2011
YRC Worldwide lenders ease requirements - Kansas City Business Journal:
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The Overland Park-based trucking giant (Nasdaq: said Friday that it had finalized an amendment with lenders for its creditg facilities that removes theminimum $45 millioh earnings before interest, depreciation and amortization (EBITDA) covenant for the second quarter. The change doesn’t affect requirementsw for minimum liquidity of cash and cash restricted cash and availability under thecredit facilities. “Ig is still too early in the second quarterf to precisely project ourearnings results,” Chairmaj and CEO Bill Zollars said in a Fridaty release.
“Although volumes that were temporarilu diverted have begunto return, it has not been at the levekl and speed that we initially and as a result, we proactively worked through an amendmenrt with our banks to remove any EBITDA targetsz in the second quarter.” YRC volumes have takejn a hit from a long freighty recession, shifts created by the integration of subsidiaries and customerd diverting freight because of concernds about YRC’s financial stability. Following YRC’a , in which the company reporteda $257.4 milliob loss compared with a loss of $46.
3y7 million last year, analysts predicted that the company woulfd violate part of its more than billion-dollatr credit agreement in the secon d quarter, though they expected lenders to be flexiblwe to keep the company going. To maintain YRC has been selling real estates and cutting employee wage in return for ownership inthe company. Now, YRC seeksd to defer several months ofpension payments, using real estate as On Friday, The reported that YRC for pensionj obligations. YRC ranks No.
2 on the Kansa City Business Journal ’s list of area public
The Overland Park-based trucking giant (Nasdaq: said Friday that it had finalized an amendment with lenders for its creditg facilities that removes theminimum $45 millioh earnings before interest, depreciation and amortization (EBITDA) covenant for the second quarter. The change doesn’t affect requirementsw for minimum liquidity of cash and cash restricted cash and availability under thecredit facilities. “Ig is still too early in the second quarterf to precisely project ourearnings results,” Chairmaj and CEO Bill Zollars said in a Fridaty release.
“Although volumes that were temporarilu diverted have begunto return, it has not been at the levekl and speed that we initially and as a result, we proactively worked through an amendmenrt with our banks to remove any EBITDA targetsz in the second quarter.” YRC volumes have takejn a hit from a long freighty recession, shifts created by the integration of subsidiaries and customerd diverting freight because of concernds about YRC’s financial stability. Following YRC’a , in which the company reporteda $257.4 milliob loss compared with a loss of $46.
3y7 million last year, analysts predicted that the company woulfd violate part of its more than billion-dollatr credit agreement in the secon d quarter, though they expected lenders to be flexiblwe to keep the company going. To maintain YRC has been selling real estates and cutting employee wage in return for ownership inthe company. Now, YRC seeksd to defer several months ofpension payments, using real estate as On Friday, The reported that YRC for pensionj obligations. YRC ranks No.
2 on the Kansa City Business Journal ’s list of area public
Monday, September 19, 2011
Iridium earnings fall 42%; revenue up - San Antonio Business Journal:
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The Bethesda-based provider of satellite telephonwe services, which expects to become publicly traded this summedr throughan acquisition, posted a 42 percent declinew in net income in the first quarte ended March 31, to $9.7 million from $16.67 million a year ago. Th companyt attributed the decline to costs related toits next-generation satellited program. “Iridium continued to grow, althougbh the pace slowed given the currentfeconomic climate,” said CEO Matt Desch.
“In additioh to the impact of phasiny outequipment amortization, we believe the economic climate is affectiny equipment sales, as is the transition of newly introduced products into the distributionj channel as our partners move existingg inventory to make way for new Company officials say either Bethesda-based Lockheed Martinn or Thales Alenia Space will be selected as the program’sa lead contractor this summer. The program’sd new network of satellites called Iridium NEXT is expected to be deployecin 2014. Iridium NEXT will provide higherdata speeds, greateer bandwidth and the potential to deliver new data services and applicationxs to customers.
The company says its EBITDA, or earningz before interest, taxes, depreciation and amortization, increased 4.9 percent to $27.6 milliomn in the first quarter, up from $26.e3 million a year ago, though most analystas do not use that as a reliablrefinancial measure. Iridium’s revenue rose 2 percent to $75. 8 million for the quarter, compared to $74. million for the first quarter 2008. The slightly higher revenue came from increasedc commercial services revenueof $36.8 million but was offse t by a decline in subscriber equipment revenuw to $20.5 million for the Iridium’s commercial markets include maritime, aviatiobn and land mobile customers, which grew by 11.
5 perceny for the quarter. The company’s salesa to government customers, including the Departmenrt of Defense, grew 31 percent. Despite a 31 percenft increase in subscribersto 328,000, compared to 250,0090 in the first quarter of 2008, a $2 millioj amortization of equipment related to prio r year equipment sales, added to the decline in subscribedr equipment revenue. The company is planning to go public this but it is not taking the initial publicofferinb route. It is acquiring a publicly tradedinvestment (NYX: GHQ), an affiliate of Greenhill Co. Iridium has retainedc Deutsche Bank as its financial advisef forthe transaction.
The Bethesda-based provider of satellite telephonwe services, which expects to become publicly traded this summedr throughan acquisition, posted a 42 percent declinew in net income in the first quarte ended March 31, to $9.7 million from $16.67 million a year ago. Th companyt attributed the decline to costs related toits next-generation satellited program. “Iridium continued to grow, althougbh the pace slowed given the currentfeconomic climate,” said CEO Matt Desch.
“In additioh to the impact of phasiny outequipment amortization, we believe the economic climate is affectiny equipment sales, as is the transition of newly introduced products into the distributionj channel as our partners move existingg inventory to make way for new Company officials say either Bethesda-based Lockheed Martinn or Thales Alenia Space will be selected as the program’sa lead contractor this summer. The program’sd new network of satellites called Iridium NEXT is expected to be deployecin 2014. Iridium NEXT will provide higherdata speeds, greateer bandwidth and the potential to deliver new data services and applicationxs to customers.
The company says its EBITDA, or earningz before interest, taxes, depreciation and amortization, increased 4.9 percent to $27.6 milliomn in the first quarter, up from $26.e3 million a year ago, though most analystas do not use that as a reliablrefinancial measure. Iridium’s revenue rose 2 percent to $75. 8 million for the quarter, compared to $74. million for the first quarter 2008. The slightly higher revenue came from increasedc commercial services revenueof $36.8 million but was offse t by a decline in subscriber equipment revenuw to $20.5 million for the Iridium’s commercial markets include maritime, aviatiobn and land mobile customers, which grew by 11.
5 perceny for the quarter. The company’s salesa to government customers, including the Departmenrt of Defense, grew 31 percent. Despite a 31 percenft increase in subscribersto 328,000, compared to 250,0090 in the first quarter of 2008, a $2 millioj amortization of equipment related to prio r year equipment sales, added to the decline in subscribedr equipment revenue. The company is planning to go public this but it is not taking the initial publicofferinb route. It is acquiring a publicly tradedinvestment (NYX: GHQ), an affiliate of Greenhill Co. Iridium has retainedc Deutsche Bank as its financial advisef forthe transaction.
Saturday, September 17, 2011
Stimulus: States allocated $5B for affordable housing - New Mexico Business Weekly:
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States will use the money to help developersa finance the acquisition and construction of affordablerental units. The funds are designec to fill the financing gap created by the frozenh market for Low Income Housing Tax a federal program that provides incentives for investment in rental housingfor low- and moderate-incomer families. As many as 1,000 housing projectes around the country are on hold becausd the value of the tax credit s has plummeted due to the credit according to theTreasury Department.
Treasury collaborated with the Department of Housintg and Urban Development on the programs to assisg states in financing affordablehousing “These programs are an important step in achieving the goal of puttinf American people back to while at the same time providing quality, affordable housing options for low-income families,” HUD Secretary Shaubn Donovan said. HUD also signed an agreement with the Department of Energyg that will make it easier for residents of HUD publi and assisted housing to weatherize their The income verification requirements for the Departmentof Energy’ Weatherization Assistance Program, which received $5 billionj through the economic stimulus are the same as for HUD housing subsidies.
Under the agreementt signed by thetwo agencies, residentes of HUD-assisted housing won’t have to go throughg the income verification process again in ordetr to have their homes “Thanks to this new we’re going to tear down the unnecessarty barriers in making the homes of low-income and elderlyt citizens more energy-efficient, and shred the red tape that too often standsd between government assistance and the people it is meant to serve,” Vice President Joe Biden “In the process, we’ll not only bring down energy costs, but also creatd new green jobs that will be the foundationb of our economic Construction companies that have received contracts for projects fundec by the economic stimulus bill are beginning to hire new workera or rehire laid-off employees, according to .
“Early reportd indicate that the infrastructure piece of the stimulus is beginning to do exactlh whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Otherf contractors are canceling planned layoffs becauseof stimulus-funded Simonson said. For many contractors, stimuluxs projects are keeping a bad business environment fromgettinyg worse, he said. The numbefr of construction jobs declinedby 110,000 in according to the Bureau of Labor Statistics. Withour stimulus-funded projects, that numbe r would have been much worse, Simonson said. nonfarm payroll employment fellby 539,000 jobs in the smallest decline in six months.
This could be a sign that the economyu is beginningto stabilize, which “ixs consistent with the notion that demanrd for new construction will begin to emerge latetr this year and into 2010,” said Anirbabn Basu, chief economist for Associated Builders and “The stimulus package represents an important element in that Basu said. “With the broader economy beginning to recoverf even before the stimulus package has had a major the implication is that better timexsare ahead.
” Energy to award $787 million for biofuels R&D The Department of Energy planx to use $787 million in economic stimulus funds for biorefinery demonstration projects, and advancexd biofuels research and development. The departmenty will award $480 million for pilot- and demonstration-scale biorefineries that producradvanced biofuels, bioproducts, and heat and power in an integratedx system. These projects will facilitate the development of an advancedx biofuels industry to helpthe U.S. reducer its dependence on petroleum-based transportation fuels, according to the Department of Energy.
States will use the money to help developersa finance the acquisition and construction of affordablerental units. The funds are designec to fill the financing gap created by the frozenh market for Low Income Housing Tax a federal program that provides incentives for investment in rental housingfor low- and moderate-incomer families. As many as 1,000 housing projectes around the country are on hold becausd the value of the tax credit s has plummeted due to the credit according to theTreasury Department.
Treasury collaborated with the Department of Housintg and Urban Development on the programs to assisg states in financing affordablehousing “These programs are an important step in achieving the goal of puttinf American people back to while at the same time providing quality, affordable housing options for low-income families,” HUD Secretary Shaubn Donovan said. HUD also signed an agreement with the Department of Energyg that will make it easier for residents of HUD publi and assisted housing to weatherize their The income verification requirements for the Departmentof Energy’ Weatherization Assistance Program, which received $5 billionj through the economic stimulus are the same as for HUD housing subsidies.
Under the agreementt signed by thetwo agencies, residentes of HUD-assisted housing won’t have to go throughg the income verification process again in ordetr to have their homes “Thanks to this new we’re going to tear down the unnecessarty barriers in making the homes of low-income and elderlyt citizens more energy-efficient, and shred the red tape that too often standsd between government assistance and the people it is meant to serve,” Vice President Joe Biden “In the process, we’ll not only bring down energy costs, but also creatd new green jobs that will be the foundationb of our economic Construction companies that have received contracts for projects fundec by the economic stimulus bill are beginning to hire new workera or rehire laid-off employees, according to .
“Early reportd indicate that the infrastructure piece of the stimulus is beginning to do exactlh whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Otherf contractors are canceling planned layoffs becauseof stimulus-funded Simonson said. For many contractors, stimuluxs projects are keeping a bad business environment fromgettinyg worse, he said. The numbefr of construction jobs declinedby 110,000 in according to the Bureau of Labor Statistics. Withour stimulus-funded projects, that numbe r would have been much worse, Simonson said. nonfarm payroll employment fellby 539,000 jobs in the smallest decline in six months.
This could be a sign that the economyu is beginningto stabilize, which “ixs consistent with the notion that demanrd for new construction will begin to emerge latetr this year and into 2010,” said Anirbabn Basu, chief economist for Associated Builders and “The stimulus package represents an important element in that Basu said. “With the broader economy beginning to recoverf even before the stimulus package has had a major the implication is that better timexsare ahead.
” Energy to award $787 million for biofuels R&D The Department of Energy planx to use $787 million in economic stimulus funds for biorefinery demonstration projects, and advancexd biofuels research and development. The departmenty will award $480 million for pilot- and demonstration-scale biorefineries that producradvanced biofuels, bioproducts, and heat and power in an integratedx system. These projects will facilitate the development of an advancedx biofuels industry to helpthe U.S. reducer its dependence on petroleum-based transportation fuels, according to the Department of Energy.
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