Friday, March 30, 2012

Fortress Paper Announces New EUR25 Million Credit Facility and Executive ... - MarketWatch (press release)

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Wednesday, March 28, 2012

What Do Stanford and UCLA Have in Common?

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UNIVERSAL CITY, Calif., June 9 /PRNewswire/ -- , and UCLA student team , as they have been awardedd $5000 Scholarships and internships from both iFLY SanFranciscoi Bay, and iFLY Hollywood respectively. iFLY California, whichb includes both iFLY San Franciscko Bay and iFLY Hollywood at Universal were seeking original campaigns touse "virakl marketing" as a strategy to help make iFLY vertical wind tunneles a global franchise. The studentx won the cash scholarship, a summer internship, and a year's worthu of free flight. from Stanford will be implementinbg his viral marketing idea at the iFLY SF Bay will work with theHollywood location.
, ownerd of iFLY California "We are elated to offer scholarships and internships to these deserving studentz in theseeconomic times. I have completes faith that cultivating their ideas will move iFLY farthed forward than it has everflown before." Winneras were announced June 1st, 2009 To view all detailsw go to Located in Union City, iFLY San Francisco Bay entertain all kinds of customers including adults, experienced skydivers, corporate groups, birthday parties and militar training. Their highly qualified instructors offer a safe yet excitin g atmosphere for all to experience the thrilloof flight. iFLY Hollywood is located at Universap CityWalk(R).
Kids, teens and adults experience the worlfd of skydiving in a 36 foot clear view vertical wind Birthday parties, corporate groups, Kid's Club, educational programs, first time flights and many other packages are offered to accommodate any SKYVENTURE, LLC SkyVenture is the world'as largest and most experienced designed and builder of vertical wind tunnels. It has sold 33 vertical wind tunnela in nine different countriew acrossthe globe. SkyVenture's wall-to-wall airflow, multiplre overhead fans and cuttingb edge technologies provide the safest and most accurate freefall simulation possible. These technologies are protected by multiple patents in 32countries worldwide.

Monday, March 26, 2012

Target wins proxy fight with Ackman, Pershing Square - Denver Business Journal:

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In a preliminary tally of more than 70 percent of the shares that were cast were votedx in favor ofthe company’s proposed slate of director s while also voting to keep the size of the boarrd the same by the same voting Target Corp. (NYSE: TGT) urged its shareholders to vote for a proposal to set the size of the boarxd at 12 and to vote forthe company’a nominees — Mary Dillon, Richard George Tamke and Solomon Trujillo. Dillob is executive vice president and global chief marketin officerof McDonald’s Corp.; Kovacevicuh is chairman of Wells Fargo & Co.; Tamke is a partne at private investment firm Clayton Dubilier Rice Inc.
, and Trujillo is CEO of Telstra Hedge fund manager William Ackman is the founded and managing principal of , New York Pershing Square owns 7.8 percent of Target’s commonj shares, according to the Targetf proxy statement. Pershing Square proposee alternativedirector nominees, but Target executivesa urged shareholders not to return any proxy card sent by Pershingf Square. Ackman was tryiny to gain a seat for himselfon Target’d board along with four others: forme r Winthrop Realty Trust CEO Michaek Ashner, former Starbucks CEO Jim Juniper Financial co-founder Richard Vague and corporat finance and governance expert Ronale Gilson.
Ackman, calling his group The Nomineesw forShareholder Choice, urged Target shareholders to vote against the proposal to reducee the size of the Target board. His groul said a vote against the proposal would help ensure that at least one of the Nomineezs for Shareholder Choiceis elected. The shareholders meeting was held at a new Targety Store being completed at 1250 West Sunset Drivdin Waukesha. Target executives said the site allowed the company to showcas its latest general merchandisestores design. The store is schedulede to openin July.
Target executives said they have met sincde 2007 with Ackman to discuss hisideads and, said they were disappointed that Pershing Square has decided to pursue what Target management called a costly and disruptivde proxy contest. The company, in part, followee Ackman’s earlier suggestion to sell Target’s credit card The company completed a transaction in May withJPMorgan Chase, in which Target sold slightly less than half its receivablees for cash proceeds of about $3.6 billion dollars. Ackma n in May 2008 presented the first in a series of proposalsx involvingrestructuring Target’s real estate around the themd of a REIT.
Target’s board concluded that the REITproposao “was not in the best interest of our shareholders” because it wouldn’t create much value, Target executives On May 20, Target reported net earningx of $522 million, or 69 centx per share, for the first quarteer ended May 2, 2009, comparedx with $602 million , or 74 cents, a year earlier. Retail sales increased 0.4 percent to $14.4 billioj from $14.3 billion in 2008, due to new storre expansion that partially offset bya 3.7 percent declins in comparable-store sales. Target Corp.
operates a credity card segmentand 1,698 Target stores in 49

Saturday, March 24, 2012

YRC Worldwide sells HQ to load up more cash - bizjournals:

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But it didn’t go far. A group of locak investors led by Ken Blockl andSteve Block, principals of Kansas City real estate firm , bought the Overland Park headquartersz in a sale-leaseback deal that includes a potentiapl 30-year lease for YRC. The company did not disclose the pricor buyer, and Ken Block said he couldn’tg comment because of a confidentialityh agreement, but a YRC Securitiezs and Exchange Commission filing suggests the purchase prices was $22.5 million.
Johnson Countty lists the property’s appraised value at close to $25 “The monetization of real estatr assets is a part ofYRC Worldwide’s ongoinbg financial strategy to weather the (economic) recession and enhanced its liquidity position,” YRC said in a statemen t e-mailed to the Kansas City Business Journal . “The YRC Worldwide corporate headquarters is and will continue to be locatec in theOverland Park, Kan., location.” YRC said the deal was part of $176 millionm in property sales and sale-leasebacks completed in the first which ended March 31. But according to the , the deal closede May 1.
The leas e has an initial term of10 years, plus two 10-yeaer renewal options, YRC said. The sale included two buildings, the company said. Appraiser’s officew records list the property as having a totalp building areaof 295,000 square feet, builty in 1972, on 21.5 acres. The transactionn appears to be reflectedin YRC’s first-quarterf SEC filing as a Marchg 31 office complex deal for $22.65 million, which minus transaction costs equaled $19.8 Annual lease payments will be about $3.4 million. However, the assetes and long-term debt in the amount of the proceeda remainon YRC’s balance sheet.
Half the proceedsw went into anescrowe account; the rest were used to pay down YRC’ws credit facility, the filinfg said. The price, about $76 a squarr foot, is consistent with that of older Class B office properties in SouthernJohnson County, said Tim executive vice president of . Office buildingx in that area can rangefrom $70 to $160 a squarse foot for Class B-minus throug h Class A space and various tenanr situations, he said. The property never was publicluy onthe market, Schaffer said. Other priced factors include the tenant’s credit, the reuse potential of buildings, the risk the buildings’ age, the agreed-upon and taxes and operating costs.
“You’ve got to assume when you’rse buying it that you’ve got a good ulterior plan in case thatcompanyt doesn’t exist at some point during that 30-yead lease,” Schaffer said. “It speakz to the quality of the locationb for a group to take that levelof risk.” The which looms over Interstate 435 on Roe offers “some pretty amazing opportunities that don’g exist anywhere else in a mature environment like he said. Analyst David Silver of said YRC’sz property sales provide vital liquidity in theshorg term.
Long term, they force YRC to focus on its core holding s and integrate intoa single, solid company, he YRC seems to be accepting low said Silver, who doesn’t own YRC “People that they’re selling to see blood in the water they’re really taking advantage,” he said. “Threer years ago, if they had sold, they would have gottenb much better values. But they’re getting somewhay fair values.” YRC — which posted a $257.
4 million loss in the firsf quarter — has cut wageds in exchange for ownership in the eliminated thousands of amended bank covenants and begun negotiating todefer $120 million in unioj pension fund payments usingv real estate as collateral. With slumping freight volumes, the company accelerateds the integration of creating excess propertyand layoffs. In the secondc quarter, YRC expects to do about $200 million in sale-leasebacks, Chairman and CEO Bill Zollars said in arecenf presentation. The company plans at least $100 milliomn in excess property salexthis year, he said.
Analysf Lee Klaskow of , who doesn’ty own YRC shares, predicted earningz of 2 cents a share for allof 2010. Silveer estimated a return to profitability by the seconsd quarterof 2010.

Thursday, March 22, 2012

At PV America, Rendell says alternative energy will boost economy - Austin Business Journal:

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“I believe that over the next five the development ofthe green-energy economyg can drive this nation’s comeback,” the Democratic governor said at the generap session of PV America, which is beingt held at the Pennsylvania Conventiobn Center in Philadelphia through Wednesday. The conference is the firs t by the to focus solely on photovoltaic solar which comes from photovoltaic panel s that convert sunlightinto electricity.
It’s being held in conjunction withthe IEEE’ws 34th Photovoltaic Specialists Conference at the Philadelphia Marriotrt Downtown, which is adjacent to the conventiojn center, from Sunday through (IEEE used to stand for , but the nonprofitr now just refers to itself by its acronyjm because it has so many memberzs from other engineering About 3,000 people are attending the conferences, the SEIA and IEEE Part of Rendell’s message was similar to the message deliverex by SEIA President and CEO Rhone Resch latee in the session: When they go home, the peoplw at the conference should promote solar energy’s virtuez to everyone from their neighbors to their state and federal elected officials.
“You have to roll up your sleeved andbe advocates,” Rendell said. Both Rendelp and Resch praised President Obama for his effortas on behalf of renewableenergy — “President Obamqa is becoming the solar Resch said — but they said they’d like the federalk government to do Rendell said federal legislators should do two things: Make renewable-energyt tax credits permanent, rather than reauthorizing them every few and create a federal alternative portfolio standard that mandates that a specified portion of energy sold in the countruy be created from alternative energy Twenty eight states, including Pennsylvania and New and the District of Columbia have alternativ e portfolio standards.
Rendell said he’d like the federal standarxd to have minimum figures that states coulds exceed ontheir own. “Ifc we do those things … I thinko there’s no reason that Americsa can’t be the dominant natio n in solar energy for the he said. Rendel said alternative energy will drivrethe U.S. economy for the next 25 year s just asthe information-technology and life sciences industries have driven it for the last 25. Under his leadership, Pennsylvania has moved to capitaliz onthat shift. In 2004, it established an alternativee portfolio standard that requires 18 percent of energh sold in Pennsylvania to come from alternativ sources of energyby 2020.
Last summer, Pennsylvania created a $650 million renewable energy fund. Of that money, $180 milliob is to go to solaf energy, consisting of $100 million for grants and rebates to covefr up to 35 percent of the costsx incurred by homeand small-business ownerws who install solar energy systems, and $80 millioh for grants and loans for solart economic-development projects. More than 300 applications forsolar economic-developmen projects were received by the deadlinse last week, Rendell said. Philadelphia also has gotten in onthe renewable-energyy act. Mayor Michael Nutter in Aprilpby 2015.
The city is one of 25 takinbg part in the federal Departmentof Energy’s Solar America Cities As part of that, it’s developing a plan to generate 2.3 megawatts of solar electricity by 2011 and 57.8 megawatts by which is its share of the statew of Pennsylvania’s solar installation To help it meet those Nutter said Monday, the city is lookint to replace the roof at its fleey workshop with a roof that produces solafr energy and has formulated plans for buildin large-scale solar arrays at Philadelphia Water Department locations.

Tuesday, March 20, 2012

Real estate slump forces local brokers and owners to bring out creativity - Wichita Business Journal:

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Some are working more closely with other ownerse to get the biggest bang for theiradvertisingg buck. One is looking for temporary uses for vacanyt space to drive foot trafficto it. And otherse are opening up about just how far they are willing to go to makea “Standard marketing in real estate is to put a sign on a put it on Loopnet, send a notice to some brokerss and wait for a says ’s Leo Goseland. “In tougher times, you have to go find your Goseland recently put together a consortium for independenr property owners who are looking for tenants for five buildingzsthey own.
The owners agreed to a list of possibl e incentives they would be willing to offetr theright prospects, from several monthd free rent to help with tenanf improvements. They also are splitting costs on advertising and direcrt mailing tolocal businesses.

Sunday, March 18, 2012

Swine Flu threatens to close Springfield middle school - Dayton Business Journal:

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There are now five confirmec cases in theregion — up from two earlie r this week — and 23 cases in Ohio, which is up from 13 on May 19. The five locapl cases include one in ButlerCounty (a 30-year-old and four in Clark County (a 12-year-old a 25-year-old male, a 15-year-old male and a 15-year-olcd female.) Three of the Clarkm County cases are from the same middle in Springfield. There also are seven suspectedx cases of the virus inClarmk County, including three from the middle Children at Northridge Middle schoo are continuing attendance, as of Friday.
The directot of the and the school superintendent are workinvg together on a daily basis and awaitinvg the results of the suspectefd cases before shuttingit down, a spokeswomam for the health district said. The schoolk district was not immediatel y availablefor comment. The Swine Flu — or H1N1 viru — is now in 11 Ohio countiees as it continuesto spread. There are 12,95 confirmed cases worldwide, according to the , with 46 countries havingy at leastone case. There have been 92 deaths confirmed causef by SwineFlu worldwide, according to the WHO. where the illness is believexd tohave originated, has 4,174 cases and 80 according to the WHO. The U.S.
has the most with 8,975 confirmed and probable casews in 48 states as of11 a.m. according to the federal . There have been 15 confirmed deathss inthe U.S., with three in Texas, threee in Arizona, two in one in Washington, one in four in New York and one in officials said that as of 12 p.m. Thursday the officiall number of confirmed cases of Swine Flu inOhio were: Clark County – 3 (15-year-old male, 25-year-old 12-year-old male) • Cuyahoga County – 2 (41-year-ole female, 9-year-old male) • Frankli n County – 10 (31-year-olsd male, 33-year-old male, 18-year-old male, 20-year-old 19-year-old female, 21-year-old male, 20-year old 22-year-old female, 23-year-old 19-year-old male) There also are 25 suspect cases of Swin e Flu in Ohio.
People who are sick are urgesd to stay home from work or school and to avoidr contactwith others, except to seek medical care. This action can avoifd spreadingillness further, health officialsa said.


Fortress Paper Announces New EUR25 Million Credit Facility and Executive ...

MarketWatch (press release)


VANCOUVER, BRITISH COLUMBIA, Mar 30, 2012 (MARKETWIRE via COMTEX) -- Fortress Paper Ltd. ("Fortress Paper" or the "Company") (TOR:CA:FTP) announced that its wholly owned subsidiary, Dresden Papier GmbH ("Dresden"), has entered into a new EUR25 million ...



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CW switches to next-day streams for episodes of prime-time series

Kansas City Star


said Thursday that it would begin making episodes of its prime-time series available several hours after their initial television broadcast. The move is significant because it illustrates how television companies are moving quickly to adapt to rapid ...



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Wednesday, March 14, 2012

Activists' pressure 'slowing animal imports' - BBC News

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BBC News


Activists' pressure 'slowing animal imports'

BBC News


Some leading scientists are warning pressure from animal rights activists is reducing the number of animals being brought into Britain for research.  »

Monday, March 12, 2012

Miami

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“Our long-term goal is to covert the state,” said Steve City National’s regional manager for Centralo Florida. “There really isn’t a Florida-dominant bank todat that does that.” City National likely will add locations throughh both acquisitions andnew construction, Greebn said. If City National succeeds, it will occupty a niche largely left empt since became part of inthe 1990s. Florida banking today is a mix of communitu banks withlimited operations, regional lenders such as and giant banks, which include and soon and .
A well-financefd lender that focuses on the state coulf offer customers the personal attention of communituy banks combined with the financial clouf to makebig loans, Green said. The bank’xs new local branch – its staff of eight occupyingh the space formerly occupiedby Sergio’s Restaurantg – faces the towering Bank of America building on Northu Orange Avenue, a physical reminder of the giantg competitors City National will face as it pursue s its growth strategy. City National is one of Soutgh Florida’s oldest financial institutions.
Until it openerd a small loan office on the second floo of an Altamonte Springs office building twoyearws ago, the 63-year-old bank operated exclusively in Broward and Palm Beach counties wherre it has 15 branches. The opportunity to reachj beyond its historic turf came last fall when Caja a Spanish lender with morethan $300 billionj in assets, bought an 83 percent stake in City Nationa for $927 million. Green said Caja Madrid’s ownershiop and City National’s strong balance sheet givez it the resources to undertake expansion when othere lenders arecutting staff. “We aren’g focused on the issues troubling the rest of thebankingh industry,” Green said.
“Wr have a partner in Caja that’s capable of helping grow in theFloridsa marketplace.” City National’s most recent quarterlhy report depicts a bank with strong capital reservesd and a $903,000 profit. Similarly, BankUnited of Coral Gables also growth plans in thestates – and has a strong balanc sheet after going into FDIC It was recapitalized by , and among J. Clay Singleton, a finance professor at , said a strongh Florida bank with the capital to expanc could do well even asthe so-calledr megabanks expand their reach. “The megabankds have huge footprints, but they’re also suffering huge financialp problems.
If you’re a lender with money, this is a time to Marshall Vermillion, senior vice presidentf of community lenderOrange Bank, said City National has stronyg leadership and solid footing. “Positioning yourself to take advantags of the unrest in the banking businesis wise. Things are going to come and this is a good timeto prepare. As a professor of mine in business schoolonce said, the best time to get on a trainj is when it’s stopped.” THE DETAILS: Web Assets: $4.
7 billion Source: , Orlando Businesz Journal Research

Saturday, March 10, 2012

Business buzzing: Hundreds of thousands of honeybees for rent - In-Forum

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Business buzzing: Hundreds of thousands of honeybees for rent

In-Forum


Lasting about four weeks, it's the largest such pollination effort on Earth: 1.6 million hives buzzing with 48 billion bees across a cultivation area about the size of Rhode Island. “Without the honeybees ... the (almond) industry doesn't exist,” said ...



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Wednesday, March 7, 2012

Willow Glen Books buyer keeps up hope - The Business Journal of the Greater Triad Area:

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The long-time Willow Glen resident and businessmansaid he’s stil l attempting to secure financing to buy the 2,500-square-foot stord at 1330 Lincoln Ave. in downtown Willow Glen even after an earliee deal to do sofell through. “I could not find adequate Vierra said of a previouw attempt to strike a deal with formet bookstore owner, Cathy Adkins. She decidedd to sell her 17-year-old shop a year earlier than originallh planned because of decreasing sales and havingt to grapple withhealth issues. But owner of Flooring a San Jose flooringconsultingb firm, said he’s not giving up. He’ws still trying to secure a commercial bank loan or attracg the interestof investors.
“I am so closwe to my childhood dream of owning abook store,” he “This is something I have alwayd wanted to do. I have gotten great supporyt from the bookselling community and the Willow Glen community is willinf to supporta local, independenyt book store. It has a great reputation throughout SantaClara County.” Adkins held a going-out-of-business sale and finallyh closed its doors in late May, but said at the time she hopecd to pass the ownershio baton to Vierra.
But since the store has been closed anda “for sign put up in its Vierra said the owner of the building is willing to be patient while he works to get adequated financial backing to reopen the bookstore.

Monday, March 5, 2012

New M2Gen headquarters expected to create more jobs - Tampa Bay Business Journal:

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First announced in late 2006, M2Gen has received $28 millionm in support from Hillsborouggh County, $15 million from Florida and $2 milliomn from the city of including land. When M2Gen originated as an outgrowthof Moffitt’ s Total Cancer Care concept, Moffitt went out looking for an industru partner that would assist in funding and work in a collaborativde manner to understand how best to develop drugs, said Rick M2Gen COO. Pharmaceutical company (NYSE:MRK) bought into and understooe the concept, Garrison said. Although Merck declined its total investment is said by M2Gehn to be multiple times that ofHillsborough County’ds investment.
So far, M2Gen has recruitede 26,000 people to participater in a genomic study through a networj of nine hospitals in Florida and seven outside the Throughthese sites, M2Gen employs 30 people in the Floridwa hospitals and 24 outsides the state, and an additional 60 employeesa report directly to the M2Gen headquarters. In additionb to office and laboratory space, the headquarters will house a robotic-driven freezer” for storage of tissue samples for the Garrison said.
Genomic information from these samplexs is the basis for an electronic database that couldf speed up the drug development processx and save tens of millions of dollars acroszsseveral industries, making M2Gen a “valure proposition” for patients, physicians, and the biotech and pharmacu industries, Garrison said. By 2011, M2Gen expectxs to create 165 direct jobsin Florida, with the majoritt in Hillsborough County, and an additional 350 indirect for about 500 total jobs. In the short M2Gen will provide an immediate boost tothe economy, said Hillsborough Countyh Commissioner Mark Sharpe.
In addition to creating direct the venture will need businesses to providee support that could range from medical devicex topaper copies, Sharpe In the first of many buildings plannes for a 30-acre campusx on McKinley Drive, M2Gen creates potential for and “follow-on” companies, said Gene Gray, economic development director for Hillsboroughh County. Once a “medical district” or a “high-tech shapes up, the opportunities for any vendorf involved in the equipment and materials forthe life-scienc industry could multiply.
“I think we’re going to see a significant ripple effect,” Gray

Saturday, March 3, 2012

Health information technology comes to the stimulus forefront - bizjournals:

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A broad conversion to a system of electronidc medical records was envisioned long befores President Obama signed the American Recovert andReinvestment Act. Stimulus fundint could be the catalyst forthe long-awaiteds technological upgrade, supporters said. “The idea is that ultimately oncethe [new] system is working, it will work vastlt better [than] the fax said Carolyn Turner, government analystf with the Florida Agency for . On May 5, Gov. Charlir Crist announced that ACHA, with the support of the , woulcd lead the state’s efforts to plan for stimulus fundinf forhealth information.
connection and broadband accesxsRoughly $19 billion in stimulus fundint is earmarked for investment in health information technologt nationally with nearly $17 billiomn to be administered through and Medicaid for Turner said. The National Coordinatord for Health Information Technology willreceive $2 billiob as slated in the originalk bill. It is supposed to enable connections for the exchangee ofhealth information. Another importan component of electronic informationn exchange isbroadband access, Turner The stimulus bill provides for $7.2 billion for broadband accesw so it’s envisioned a portiomn of that allocation will be devote d to the telecom aspects of health information.
For one of Tamp Bay’s most well known health care institutions, healtyh information technology and comparative effectiveness or the sharing of information acrossa systems to determine the best treatment arethe “twin engines” of health care reform, said John DeMuro, supervisor for government relations for in Tampa. “Interoperability is a big concerjnfor this,” DeMuro said.
“How data can be shared acrosz different systems and accommodate future technologies is something we have been tacklin g for the past five or 10 Although Moffitt Cancer Center does not qualify forthe $19 billion in health information technology stimulus funding because it does not fall within the definition of an eligible healtnh care provider as outlined in the act, it may qualifyh for a share of the $2 billion allotted to the National Coordinator for Health Information “What the stimulus does is shine a brighterr light on some of the things we have been focusinb on and pushing for quite some said James Corrigan, GM of . A divisio n of Co. (NYSE: GE) based in Vt.
, GE Healthcare IT has 5,00p0 employees worldwide with nearly 90 in Between nowand 2015, GE plans to investt $6 billion in its health care technologgy through its “Healthymagination” initiative, which is independent of stimulus GE has invested in the electronic medical records technologyh for more than 10 years, Corriganh said. “For us, the timin g was right in terms of our being able toannouncw [the investment] on the heels of the stimulus.

Thursday, March 1, 2012

Arizona executes man for killing, dismembering mom - GoErie.com

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Arizona executes man for killing, dismembering mom

GoErie.com


By AMANDA LEE MYERS AP Arizona executed an inmate Wednesday for killing and dismembering his adoptive mother while he was out of prison on furlough for another crime, despite a spate of last-minute appeals over his mental disabilities and how the state ...



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