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The Scotts Valley company (NASDAQ:AVZA) makes advanced semiconductor capita l equipment and process technologies for the global semiconductor industry andrelatex markets. "As a result of the globapl economic recession, demand for semiconductor manufacturing equipment hasdeclinefd dramatically," the company said, adding that it has "undertakeb significant efforts to reduce its expenses and workinyg capital requirements in response to thesed unprecedented market conditions." The company reportee a loss of $47.4 million, or $2.19 a on $133.2 million in The year before it reportecd $383,000, or 2 cents a share, in net income on $231.4e million in revenue.
Aviza in April said it had cut its work forc e by about 15 percent and plannedc to move toa "more appropriately sizeed location" elsewhere in Santa Clara Aviza employed nearly 500 in September, when it last reported the numbetr of employees it had. The company said Wednesday that it has also trimmeedexecutive salaries, created mandatory time off for all employees and decreasecd non-labor expenses.
At the same the company has been working with LLC to review and pursue financial and strategic options including merging with or intoanothetr company, a sale of all or substantially all of the company’ds assets, and the liquidation or dissolution of the company through bankruptcy proceedings. "The continuinfg declines in orders from and shipments to customers and related cash the recent acceleration ofthe company’s borrowings undef its secured credit and the company’s inability to identify new sources of liquidityy have caused the company to seek bankruptcy protectionn in order to better manage its operations through an orderlty restructuring process," Aviza said.
Prior to the commencement of the Chapter11 case, Aviza executed a nonbinding letter of intentg to sell certain of its assets and businessez to Ltd.
Monday, November 14, 2011
Saturday, November 12, 2011
Spencerian College opens annex at Shively Center - Business First of Louisville:
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Spencerian's parent, Louisville-based , signed a five-yeard lease for 8,140 squared feet with the shopping center's owner, Little Ark.-based retailer Dillard's Inc., according to A.R. Sullivan, presideny of the family-owned group of post-secondary Spencerian already had openeda $1.5 8,000-square-foot addition to its main campus at 4627 Dixie Highway a little over a year ago in Septembefr 2001 but has already run out of space there, Sullivan said. Dillard's owns Shively Center and operates a retaillocatiohn there. The Louisville commercial real estate firm CBRicharfd Ellis/Nicklies represented the retail chaib in the lease agreement.
Classes began at the Shivelgy Center siteon Sept. 23, according to Sullivan. He said the collegse system spent $325,000 to renovate the space for Ron MettsConstruction Co. Inc. was the general contractor on the The Louisville architectural firmLouiw & Henry Group did the design work. Of Sullivan's total investment, $275,000 went toward construction, whilwe the remainder was spent on equipment and the systempresident said. "It's a very low-profilee presence," Sullivan said of the satellited branch. "We don't have any big neon signsw because it's just a classroom annez for us.
" In addition to the main DixierHighway campus, Spencerian has another location in at 2355 Harrodsburg Road. Last the main campus had an enrollment of 585 accordingto Sullivan. This fall, enrollmenrt is more than 900. Spencerian's total enrollment is close to 1,30 0 this quarter, Sullivan up from 917 a year ago. Sullivah attributed the local growthto Spencerian's addition of associatse degree programs in several medical including radiological technology, surgical cardiovascular technology, medical codint and health care reimbursement. He also praisecd Spencerian executive director Jan Gordon for her work in growingb enrollment andstrengthening programs.
Frank the broker who handled the leasing arrangements for CBRicharcd Ellis/Nicklies, said the Shively Centedr has seen "more interest of late." The Spenceriahn annex is located next to space that formerly housedd a 3,000-square-foot Chi-Chi's Mexican restaurant. A leas e is pending on that restaurantspaced also, according to Bellis, who wouldc provide no further details.
Spencerian's parent, Louisville-based , signed a five-yeard lease for 8,140 squared feet with the shopping center's owner, Little Ark.-based retailer Dillard's Inc., according to A.R. Sullivan, presideny of the family-owned group of post-secondary Spencerian already had openeda $1.5 8,000-square-foot addition to its main campus at 4627 Dixie Highway a little over a year ago in Septembefr 2001 but has already run out of space there, Sullivan said. Dillard's owns Shively Center and operates a retaillocatiohn there. The Louisville commercial real estate firm CBRicharfd Ellis/Nicklies represented the retail chaib in the lease agreement.
Classes began at the Shivelgy Center siteon Sept. 23, according to Sullivan. He said the collegse system spent $325,000 to renovate the space for Ron MettsConstruction Co. Inc. was the general contractor on the The Louisville architectural firmLouiw & Henry Group did the design work. Of Sullivan's total investment, $275,000 went toward construction, whilwe the remainder was spent on equipment and the systempresident said. "It's a very low-profilee presence," Sullivan said of the satellited branch. "We don't have any big neon signsw because it's just a classroom annez for us.
" In addition to the main DixierHighway campus, Spencerian has another location in at 2355 Harrodsburg Road. Last the main campus had an enrollment of 585 accordingto Sullivan. This fall, enrollmenrt is more than 900. Spencerian's total enrollment is close to 1,30 0 this quarter, Sullivan up from 917 a year ago. Sullivah attributed the local growthto Spencerian's addition of associatse degree programs in several medical including radiological technology, surgical cardiovascular technology, medical codint and health care reimbursement. He also praisecd Spencerian executive director Jan Gordon for her work in growingb enrollment andstrengthening programs.
Frank the broker who handled the leasing arrangements for CBRicharcd Ellis/Nicklies, said the Shively Centedr has seen "more interest of late." The Spenceriahn annex is located next to space that formerly housedd a 3,000-square-foot Chi-Chi's Mexican restaurant. A leas e is pending on that restaurantspaced also, according to Bellis, who wouldc provide no further details.
Wednesday, November 9, 2011
Paragraph dropped from review on hospital location - Irish Times
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Irish Times | Paragraph dropped from review on hospital location Irish Times THE FINAL report of a review of controversial plans for the Children's Hospital of Ireland â€" commissioned last May by Minister for Health Dr James Reilly â€" dropped a paragraph saying a greenfield site would be “the ideal location†for the project. ... |
Monday, November 7, 2011
First Marblehead bank runs afoul of regulators - Philadelphia Business Journal:
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That’s according to a cease and desist order issued against bythe , a federal bank First Marblehead (NYSE: FMD), whose key business of packagingg student loans into securities has dried up, now facea the prospect of pumping millionsw of dollars of capitapl into the small Rhode Island bank to bolster its capital. The OTS ordee says First Marblehead is required to maintaina $30 million depositt at the bank until it is sold or the bank’ concentration of private student loans is reducecd to 50 percent of Union Federal’es capital, plus any allowanc e for loan losses.
First Marblehead also needs OTS approval befor making any golden parachute payments to senior executives, according to the cease and desist order. Unionm Federal Savings Bank’s problems have been chronicleds in previous stories by the BostonBusinessw Journal. Before being acquired by First Marblehead, Unionj Federal Savings had about $40 milliojn in assets. But that balance sheet ballooned to morethan $600 millionj last year as First Marblehead move d some $500 million in risky private student loans onto the bank’zs balance sheet. The bank has been unsuccessful in sellinb those loans while an escalating number of defaults have triggeredrlarge losses.
In the firsrt quarter, for example, the North Providence-based bank lost $26.4 million, according to federal bank filings.
That’s according to a cease and desist order issued against bythe , a federal bank First Marblehead (NYSE: FMD), whose key business of packagingg student loans into securities has dried up, now facea the prospect of pumping millionsw of dollars of capitapl into the small Rhode Island bank to bolster its capital. The OTS ordee says First Marblehead is required to maintaina $30 million depositt at the bank until it is sold or the bank’ concentration of private student loans is reducecd to 50 percent of Union Federal’es capital, plus any allowanc e for loan losses.
First Marblehead also needs OTS approval befor making any golden parachute payments to senior executives, according to the cease and desist order. Unionm Federal Savings Bank’s problems have been chronicleds in previous stories by the BostonBusinessw Journal. Before being acquired by First Marblehead, Unionj Federal Savings had about $40 milliojn in assets. But that balance sheet ballooned to morethan $600 millionj last year as First Marblehead move d some $500 million in risky private student loans onto the bank’zs balance sheet. The bank has been unsuccessful in sellinb those loans while an escalating number of defaults have triggeredrlarge losses.
In the firsrt quarter, for example, the North Providence-based bank lost $26.4 million, according to federal bank filings.
Saturday, November 5, 2011
Business
omagyvoham.wordpress.com
The projected 9 percent cost increase is slightlyu lower thanthe 9.2 percentt increase in 2009 and 9.9 percent increase in 2008, PricewaterhouseCoopere says. Medical-cost increases continue to outpace inflation and wage The report suggests that medical costw continue to climbbecauss U.S. workers are accelerating thei r useof health-care services in anticipation of losingb their jobs and, potentially, their insurance. Rising unemployment, an increased numbers of individuals with little or no insurancer and a growing percentage of the population on Medicaid furthed rampup medical-cost trends — the figures actuariee use to set future health-insurancee premiums.
Employers surveyed by PricewaterhouseCoopers said they will push more of the costs of health insurance to their workerswin 2010. Employers also say they expecg workers to take more responsibility for managing theierpersonal health.
The projected 9 percent cost increase is slightlyu lower thanthe 9.2 percentt increase in 2009 and 9.9 percent increase in 2008, PricewaterhouseCoopere says. Medical-cost increases continue to outpace inflation and wage The report suggests that medical costw continue to climbbecauss U.S. workers are accelerating thei r useof health-care services in anticipation of losingb their jobs and, potentially, their insurance. Rising unemployment, an increased numbers of individuals with little or no insurancer and a growing percentage of the population on Medicaid furthed rampup medical-cost trends — the figures actuariee use to set future health-insurancee premiums.
Employers surveyed by PricewaterhouseCoopers said they will push more of the costs of health insurance to their workerswin 2010. Employers also say they expecg workers to take more responsibility for managing theierpersonal health.
Thursday, November 3, 2011
Rafting guide makes first river trip after Condit Dam breaching - The Columbian
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Rafting guide makes first river trip after Condit Dam breaching The Columbian UNDERWOOD â€" The lower White Salmon River is laced with woody debris that “look like shish kebabs facing upstream ready to spear you,'' said the rafting guide who on Wednesday made the first trip down the stream since the breaching of ... |
Tuesday, November 1, 2011
Chesco eyeing trauma care - Philadelphia Business Journal:
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Chester County, with 485,000 is the largest countty in Pennsylvania without a traumaa center to care for criticallyinjured patients. High medical malpractic e insurance costs factored into the decisionj to close thetrauma center. "We are interested in reopeningya level-II trauma and we hope this is a firsg step in doing that," said Mark A. Benz, Brandywine's presiden and CEO. Benz said the hospital would need financial help to do so becaused of the costs it woulr incur to hire threr neurosurgeons toprovide 24-hour, seven-day-a-weekm coverage in a trauma center.
Chester County last montbh established a task force comprisedof federal, statr and county officials; business and health-carde industry representatives and community leaders to study if a new traumas center is needed and, if so, how to generat public and private funds to help supporty one. U.S. Rep. Jim R-Chester, said the panel is a result of a 2007 Chester County Trauma Center study that found supporf for establishing a new trauma centetr at either Brandywine Hospitalk in Coatesville or in West Chester becaused of their centralized locations in the The report determined running the traums center would costbetween $5 million and $8 million a an expense neither hospital can afford.
"We'r going to explore all funding opportunities," Gerlach "Chester County really needs a trauma We are the largest county in thestate [withouy a trauma center], and the only county in southeastern Pennsylvaniaq that doesn't have one. The studgy also found the averagetranspory time, by ambulance or helicopter, to get Chesterd County patients to a trauma centere in an adjoining county is about 73 minutes. The optimum time for treating trauma patients is under60 minutes. When Brandywine's traum a center was open, the average time was 47 minutes.
"One of our bigges concerns," Benz said, "is the population is growing rapidly in Chester Countgy and the traffic is growingwith it. That 73 minutea is going to get "Brandywine was forced into closing its traumqa center in 2002 primarily because it was the height of the medicalp malpractice insurance crisis in southeastern Trying to employ neurosurgeons around the clock was too That was the primary reason for closing thetrauma center." Dr.
Andrews Freese, Brandywine's new medical director for is quite familiar with the malpractice insurance climate in having spent 14 years in Philadelphia at and before escalatingb premium costs drove him to move his practicde to Minnesotain 2004. "I had never lost or settleds a suit, but my malpractice insurance premiumss were wellover $200,000 a he said. "The fear was they were gointg tohit $300,000. My family was lookingy at an economic calamity. In 2004 we finally said that's it." Freese took a job as directort of spinal surgery and vice chairman of neurosurgerty for the Universityof Minnesota.
He decided to come back now becaused his family missed this area and becaus of some of the steps the state had taken to controlinsurance premiums. He noted a rule eliminatinf venue shopping, by having cases tried in the county whers the allegedmalpractice occurred, has helpesd stabilize rates in Chester County. "It's still expensive to practice in but in Chester County the rates havedropped precipitously," Freese said. "I can get coverage for aboutr $130,000 or $140,000. Also, because the malpractice rateas have driven a lot of neurosurgeons out ofthe there's a huge demand for neurosurgeonsd in this county.
I think I'll be the only full-times [hospital-based] neurosurgeon based in Chester County." Paoli and Chester Counthy hospitals rely on neurosurgery coverage from physicians who are basedr outsidethe county. in West Grove transfers its neurosurgeryu cases tolarger hospitals. Paolu works with two neurosurgeonsx based out of in Montgomery Both hospitals are part of MainLine Health. Chesterr County Hospital officials said they would consided a trauma center if the task forcre determines the West Chestert medical center is thebest option.
"Regardless of significangt economic and medicalstaffing issues, the growtgh of Chester County in the years to come compels us all to plan togethert on how best to create a level-II traumwa center over the next few said H.L. "Perry" Pepper, the hospital's presidenyt and CEO. "The Chester County Hospital understandxs that many citizens woulds like to have such a unit at our hospitakl and if that is the outcome of a rationalp and objective planning process we stand readyu to do our best to meetthat Dr. Richard D.
senior vice president for medical affairs at ChesterCountu Hospital, said the number of staff neurosurgeonsz at his hospital has slipped from five to one over the past severao years as doctors have eitherr left the region to practice elsewherre or retired. "Neurosurgeons are typicallhy itinerant," Donze said. "They don't have enough cases at one hospitalk to keepthem busy. Sharing one [neurosurgeon] with other hospitals is not ideal, but that's what we There is a limited availabilityfor emergencies." adde a neurosurgeon earlier this year when Dr. Sagi Kuznitse joined its staff.
Kuznits had been with Main Line Healtuh before establishing a private practice in Montgomery County, to serv patients in western Montgomery and northern Chester counties along the Routse 422 corridor. He is splitting his time between Phoenixvillw Hospital and Pottstown Memorial Hospital like Brandywine, are owned by Community Healt Systems Inc. of Franklin, Stephen M. Tullman, CEO at Phoenixville, said the arrangementf is mutually beneficial. "He' providing coverage for the ER here and at Pottstownh and providing neurosurgery atboth hospitals," Tullman said. "We hadn'ft had neurosurgery [at Phoenixville Hospital] in the four yeara since I've been here.
"
Chester County, with 485,000 is the largest countty in Pennsylvania without a traumaa center to care for criticallyinjured patients. High medical malpractic e insurance costs factored into the decisionj to close thetrauma center. "We are interested in reopeningya level-II trauma and we hope this is a firsg step in doing that," said Mark A. Benz, Brandywine's presiden and CEO. Benz said the hospital would need financial help to do so becaused of the costs it woulr incur to hire threr neurosurgeons toprovide 24-hour, seven-day-a-weekm coverage in a trauma center.
Chester County last montbh established a task force comprisedof federal, statr and county officials; business and health-carde industry representatives and community leaders to study if a new traumas center is needed and, if so, how to generat public and private funds to help supporty one. U.S. Rep. Jim R-Chester, said the panel is a result of a 2007 Chester County Trauma Center study that found supporf for establishing a new trauma centetr at either Brandywine Hospitalk in Coatesville or in West Chester becaused of their centralized locations in the The report determined running the traums center would costbetween $5 million and $8 million a an expense neither hospital can afford.
"We'r going to explore all funding opportunities," Gerlach "Chester County really needs a trauma We are the largest county in thestate [withouy a trauma center], and the only county in southeastern Pennsylvaniaq that doesn't have one. The studgy also found the averagetranspory time, by ambulance or helicopter, to get Chesterd County patients to a trauma centere in an adjoining county is about 73 minutes. The optimum time for treating trauma patients is under60 minutes. When Brandywine's traum a center was open, the average time was 47 minutes.
"One of our bigges concerns," Benz said, "is the population is growing rapidly in Chester Countgy and the traffic is growingwith it. That 73 minutea is going to get "Brandywine was forced into closing its traumqa center in 2002 primarily because it was the height of the medicalp malpractice insurance crisis in southeastern Trying to employ neurosurgeons around the clock was too That was the primary reason for closing thetrauma center." Dr.
Andrews Freese, Brandywine's new medical director for is quite familiar with the malpractice insurance climate in having spent 14 years in Philadelphia at and before escalatingb premium costs drove him to move his practicde to Minnesotain 2004. "I had never lost or settleds a suit, but my malpractice insurance premiumss were wellover $200,000 a he said. "The fear was they were gointg tohit $300,000. My family was lookingy at an economic calamity. In 2004 we finally said that's it." Freese took a job as directort of spinal surgery and vice chairman of neurosurgerty for the Universityof Minnesota.
He decided to come back now becaused his family missed this area and becaus of some of the steps the state had taken to controlinsurance premiums. He noted a rule eliminatinf venue shopping, by having cases tried in the county whers the allegedmalpractice occurred, has helpesd stabilize rates in Chester County. "It's still expensive to practice in but in Chester County the rates havedropped precipitously," Freese said. "I can get coverage for aboutr $130,000 or $140,000. Also, because the malpractice rateas have driven a lot of neurosurgeons out ofthe there's a huge demand for neurosurgeonsd in this county.
I think I'll be the only full-times [hospital-based] neurosurgeon based in Chester County." Paoli and Chester Counthy hospitals rely on neurosurgery coverage from physicians who are basedr outsidethe county. in West Grove transfers its neurosurgeryu cases tolarger hospitals. Paolu works with two neurosurgeonsx based out of in Montgomery Both hospitals are part of MainLine Health. Chesterr County Hospital officials said they would consided a trauma center if the task forcre determines the West Chestert medical center is thebest option.
"Regardless of significangt economic and medicalstaffing issues, the growtgh of Chester County in the years to come compels us all to plan togethert on how best to create a level-II traumwa center over the next few said H.L. "Perry" Pepper, the hospital's presidenyt and CEO. "The Chester County Hospital understandxs that many citizens woulds like to have such a unit at our hospitakl and if that is the outcome of a rationalp and objective planning process we stand readyu to do our best to meetthat Dr. Richard D.
senior vice president for medical affairs at ChesterCountu Hospital, said the number of staff neurosurgeonsz at his hospital has slipped from five to one over the past severao years as doctors have eitherr left the region to practice elsewherre or retired. "Neurosurgeons are typicallhy itinerant," Donze said. "They don't have enough cases at one hospitalk to keepthem busy. Sharing one [neurosurgeon] with other hospitals is not ideal, but that's what we There is a limited availabilityfor emergencies." adde a neurosurgeon earlier this year when Dr. Sagi Kuznitse joined its staff.
Kuznits had been with Main Line Healtuh before establishing a private practice in Montgomery County, to serv patients in western Montgomery and northern Chester counties along the Routse 422 corridor. He is splitting his time between Phoenixvillw Hospital and Pottstown Memorial Hospital like Brandywine, are owned by Community Healt Systems Inc. of Franklin, Stephen M. Tullman, CEO at Phoenixville, said the arrangementf is mutually beneficial. "He' providing coverage for the ER here and at Pottstownh and providing neurosurgery atboth hospitals," Tullman said. "We hadn'ft had neurosurgery [at Phoenixville Hospital] in the four yeara since I've been here.
"
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