SendTec files for Chapter 11 bankruptcy protection - Tampa Bay Business Journal:

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The St. Petersburg direct response marketing company is claimingv assetsof $3.7 million and liabilities of more than $17.34 million. SendTec (OTCBB: SNDN) last filed a financiapl report with the SEC last Novembee when it claimed a net incomeof $623,000, or 1 cent per on revenue of $5 million for the quarterr ended Sept. 30, 2008. That was a turnaround from a $4.4 or 8 cents per share, loss on revenue of $7.4 millioh recorded the year before. In a statemengt released afterits filing, SendTec said it has received an offer led by management and a group of outside investmentt firms to purchase assets and continur operations as a new company.
SendTec didn’t identif y the outside investment companies. “A series of corporate transactionsdinvolving SendTec’s parent companieas going back to 2004 has left SendTec with a largse burden of debt aparty from operations,” said chief executive officer Paul Soltoff in a “These proceedings represent our best option for removing that burdej while continuing to serve our clients and run our In the interim, it will be business as We anticipate no reduction in staffr or services." In the nine months leading up to the 2008 third quarter, SendTex chalked up a profit of $3.5 million, or 5 cents per compared to a $13.
5 million, or 25 cents per loss the year prior despite revenue dropping from $24.65 million to $16.3 million. In March, SendTec informesd the SEC that it wouldr be unable to fileits year-enx report stating the company “does not have sufficient resources to complete the audit of the financial statements.” Amonfg the creditors holding secured claims againsgt SendTec is , care of of New York for $3.36 million in Series B preferred shares; of New York City for $2 millionb in Series B preferred shares; and of New York City for $1.6i million in Series B preferred Also holding a secured claim is of Old Conn., for $1.
3 million in Series B preferred Most unsecured priority claimsx listed in the bankruptcy court documentsd are less than $15,000 with the exception of $50,000o owed to the IRS. SendTev has been fighting a numbe r of lawsuits in various courtsz including one charging it with breach of contracty and unjust enrichment from inthe N.Y. Suprems Court where motions are pending. It’ s defending itself from similar charges by througg the Pinellas County Circuit Court wherde SendTec recently filedan answer, accordinfg to bankruptcy documents.
There are three other contract disputeswith , the Fort Lauderdale compan that acquired SendTec in August 2005 that is now listedx as “inactive” in court in three courts in South Florida wherde motions are pending. SendTec also has an arbitrationm case pending against it from in the Courtt of Common Pleas of Delaware Countyin Pa., and an active employee discrimination suit againstf it from Janet Megdadi in a courtg in Bridgeport, Conn. Paul Soltoff, chiefv executive officer, owns 7.5 percent of SendTec’ss stock, earned $400,000 last year and has been paid just lessthan $16,70 semimonthly in 2009. Donald Gould Jr., chief financial owns 4.
4 percent of the company’s earned $260,125 last year and has been paid morethan $10,80o semimonthly for 2009, according to court of Boca Raton owns the biggest piece of SendTef with 18.2 percent of while LBI Group, Fursa Alternativr Strategies, Alexandra Global Master Fund and SDS Capitaol Group SPC Ltd of Grand Cayma each own just less than 10 percent.

Central Hudson raising rates - The Business Review (Albany):

http://provisionary.info/authors/author-151.html
The rate plan establishecd by the PSC increases annual electrivc service delivery ratesby $38 million, and gas deliveryt rates by $13.6 million, or a totall of $51.6 million. PSC officials say the increase authorize by the state agencis $18.1 million less than the companuy requested. Central Hudson had sought increased rates for both electric and gas serviceof $66.1 million and $20.2 respectively, for a total of $86. million. Instead, the utilityg is being allowed $38 milliom for electric service, $13.6 million for gas service, and $16.56 million for a temporary surcharge, or a total of $68.2 million.
Central Hudson says its needs the added revenuesx to compensate for lower sales and increasedpension costs. The Poughkeepsie-basedr utility has 300,000 electric customers and 74,000 natural gas customerds from north of New York to theCapital Region.

Koster balks at GM reorganization agreement - Atlanta Business Chronicle:

http://www.fluint.net/authors/author-975.html
Koster said GM’s bankruptcy agreement will not extend producyt liability requirements for the company thattakes GM’s place. That meand customers who bought GM cars beforse the bankruptcy settlement lose protections under lemon laws and product liability requirements, Koster said. Koster also objected to provisionzs that allow a reorganized GM to alter dealership contracts with no sayfrom “The current agreement is terribly unfair to thesr dealership owners, many of whom have been loyal GM dealersz for decades and have invested their life savings in thesre family businesses,” Koster said in a Monday “It is unconscionable to force a dealership to waive its rightas under Missouri law simply because GM has floundered.
” Severalo other attorneys general from other including Kansas, have raised simila r objections.

Indonesians brave discomfort for annual holiday home-going (Feature) - Monsters and Critics.com

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Indonesians brave discomfort for annual holiday home-going (Feature) Monsters and Critics.com The resort island of Bali is also taking similar measures. Bali police chief Inspector General Hadiatmoko said newcomers who are unable to produce ... and more »

Dayton Business Journal: Business Events Calendar

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Once approved, your event listinb will appear on the Calendae until the day after the date you enter as its end For example, if you enter June 8th as your event'as end date, your listing will be removed from the Calendar at 12:00 a.m. on June 9th. Once I list an how long does it take befor it is posted to the BusineszsEvents Calendar? To maintain the professional integrit of our site, each listing must go througg an approval process priore to being posted to the Events Calendar. In most this occurs within a few hours, with the maximujm being 24 hours. Can I post my event listinh as far in advanceas I'd like ? Yes, you can post event listings days, weeke or months in advance.
They will appear on the Calendaer until the day afteryour event's end date. Will my evenyt listing also appear in the print edition of theBusinese Journal? No, the Business Events Calendar is an online-only any events posted through this systemk will only appear online. If I want to list a recurring eventeach month, do I have to entert each one separately? Yes, each month'ds event would be considered as a separate There may be discounts for multiplwe listings. Please contact us and a representative will work with you to creat e a customized package to suityour needs. Contac information is available from the Can I selectg more than one categoryu for myevent listing?
No, each event listing can only fall undetr one category. If more than one category applies to yourevenyt listing, we recommend choosing the one that is most If I have a Business Eventes Calendar promotional/discount code, can I use it in any of bizjournals' 42 markets?? No, each promotional/discount code is market-specifiv and will only work in the marketf for which it was originally What should I do if I need to make changes to my eventt listing after it has been posted online? Pleasee contact our local office. Information is availablew from the Who should I contacft if I would like to purchase an eventr listing over the phoneversus online? Please contact our locap office.
Information is available from the

Dow

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The Dow Jones Industrial Averagwe finished the trading day at down 187.13 points (2.123 percent). The S&P 500 closed at 923.72, down 22.49 pointsa (2.38 percent). The NASDAQ Composite finished at 1,816.38, down 42.42 pointws (2.28 percent). Among actively trade Colorado stocks, (EEE) led the day’s handful of up 3.98 percent (about 4 to close at $1.02. • (GSS) Up 1.06 percent (2 to $1.91. • (CROX) — Up 1.01 percenft (4 cents) to $3.99. • (ALTH) — Up 0.74 percentr (6 cents) to • (MDC) — Up 0.63 percent (18 cents) to Among actively traded Colorado stocks that declinefd on the daywas , or AIMCO down 10.44 percent ($1.14) to closed at $9.78.
• (Q) — Down 7.87 percent (34 to $3.98. • (AGT) — Down 7.68 percent (3.5 to 42.1 cents. • — Down 6.58 percent (16 cents) to $2.27. (DCT) — Down 5.92 percent (26 to $4.13.

Cat leaves bag: PSJailbreak cloned, released, freely available - Ars Technica

Floors

Cat leaves bag: PSJailbreak cloned, released, freely available Ars Technica ... up by the Australian courts, but to the surprise of no one, the code behind the project has been reverse-engineered and is now freely available online. ... and more »