The U.S. Small Business Administration has introduced two new free online finance courses to help small business owners with the basic principles of finance and borrowing.
The new self-paced courses, Finance Primer: Guide to SBA’s Loan Guaranty Programs at http://app1.sba.gov/sbtn/registration/index.cfm?CourseId=29 and How to Prepare a Loan Package at http://app1.sba.gov/sbtn/registration/index.cfm?CourseId=28, walk business owners through steps that answer questions about what debt financing is, what loan programs are available, what small businesses should know about borrowing money, how to prepare a loan package and how loan requests are reviewed by lenders.
“It is important for the SBA to provide information tools to help our nation’s entrepreneurs who desire the personal freedom and economic independence that can come with business ownership,” said SBA Acting Administrator Jovita Carranza.
The Finance Primer gives an overview of the SBA’s loan guaranty programs to help small businesses understand the variety of financial resources, including those from the SBA.
The finance courses can help entrepreneurs avoid some of the common mistakes made such as securing the wrong type of financing, miscalculating the amount of financing required, and underestimating the cost of borrowing money.
The Loan Package course includes small business links to related information, and refers course participants for direct support in preparing a loan request to appropriate resources that include SBA’s district offices, SBA resource partners and lenders.
Course participants who complete the 30-minute online training programs can earn a certificate of completion from the SBA, with their name, date and course title.
The new finance courses have been added to a menu of more than 26 online tutorials offered by the SBA. On a typical day, 800 to 2,000 customers register for free online courses offered by the SBA through its virtual training campus at the Small Business Training Network (SBTN) (www.sba.gov/training).
---
www.FayetteFrontPage.com
www.GeorgiaFrontPage.com
Community News You Can Use
---
Saturday, June 28, 2008
SBA Introduces Two New Online Finance Courses for Small Business Owners
Thursday, June 26, 2008
Amazon.com Acquires Fabric.com
BUSINESS WIRE--Amazon.com, Inc. (NASDAQ:AMZN) today announced the acquisition of Fabric.com, a leading online fabric store that offers custom measured and cut fabrics, as well as patterns, sewing tools and accessories.
This acquisition will enable Fabric.com to further expand its selection of fabrics and accessories while enabling Amazon.com to offer its customers a wider variety of products in the sewing, craft and hobby segment.
“Fabric.com has built an impressive business by providing great products and excellent service for sewing and crafting enthusiasts,” said Chris Nielsen, vice president of the Amazon.com Home & Garden store. “Over the years, we’ve seen a growing interest in this segment from our customers. Our acquisition of Fabric.com will allow us to offer a greater variety of fabrics and accessories to crafting customers.”
Launched in 1999 by Stephen Friedman, Fabric.com has developed a significant and loyal customer base of sewing enthusiasts, and today offers a comprehensive line of fabrics in all three major fabric categories, including apparel, quilting and home décor.
“The acquisition will allow us to more effectively build our business around the customer, offering great value and a unique shopping experience within the sewing community,” said Stephen Friedman, CEO and founder of Fabric.com. “We now have the opportunity to significantly expand our breadth of inventory, as well as benefit from the technology, fulfillment and customer service expertise of Amazon.com.”
Fabric.com will continue to function as a stand-alone operation based in Marietta, Georgia.
Post Properties Ends Process to Seek Potential Sale
Post Properties Ends Process to Seek Potential Sale Citing Difficult Market Conditions and
Receipt of No Definitive Acquisition Proposals
BUSINESS WIRE--Post Properties, Inc. (NYSE: PPS) today announced that after five months of actively pursuing a formal process to sell the Company in an increasingly difficult market environment, it has received no definitive acquisition proposals. All potential bidders have withdrawn from the sale process and, as a result, the Board has brought the process to an end. At the same time, the Board reaffirmed its commitment to actively pursue other strategies to enhance shareholder value.
Said David P. Stockert, the Company’s president and chief executive officer, “We conducted an open and thorough sales process, but conditions in the economy and the financial markets combined to produce a difficult transaction environment.” Mr. Stockert added, “Post’s portfolio consists of high-quality assets in desirable, in-fill locations, with a widely-recognized brand. We have a strong balance sheet and an experienced and capable management team committed to moving the Company forward. We remain optimistic about the longer term fundamentals for our business. We intend to actively pursue strategies to enhance shareholder value and to position the Company so that the value of its assets, business and brand is more fully realized.”
The Company intends to continue pursuing other strategies to enhance the value of its shares. Such strategies are expected to include:
- realizing value through asset sales, the proceeds of which can be used to repay debt, pay potential special dividends or repurchase shares, and fund committed investments;
- cutting costs by reducing corporate overhead, development and property management expenses;
- pursuing construction loan financing and joint venture equity to fund development activity; and
- focusing the Company by evaluating the number of markets within which it operates, and the appropriate size of its development pipeline.
The Company expects to provide additional details on these strategies during its second quarter earnings call in early August.
During the sale process, the Company’s financial advisor contacted numerous prospective buyers, including pension funds, financial sponsors, foreign capital providers, public and private multifamily companies and large conglomerates. Additionally, the Company engaged a financial intermediary to underwrite the Company’s assets in connection with prospective financing from Fannie Mae and Freddie Mac, and allowed prospective buyers to solicit other investors or other prospective buyers to provide equity financing, to form bidding groups or to acquire certain of the Company’s assets. During the course of the sale process, several potential bidders indicated an interest in pursuing an acquisition of the Company, but none submitted a definitive acquisition proposal.
About Post Properties
Post Properties , founded more than 36 years ago, is one of the largest developers and operators of upscale multifamily communities in the United States. The Company’s mission is delivering superior satisfaction and value to its residents, associates and investors, with a vision of being the first choice in quality multifamily living. Operating as a real estate investment trust ("REIT"), the Company focuses on developing and managing Post(R) branded resort-style garden and high density urban apartments. In addition, the Company develops high-quality condominiums and converts existing apartments to for-sale multifamily communities. Post Properties is headquartered in Atlanta, Georgia, and has operations in ten markets across the country.
Post Properties owns 22,437 apartment homes in 62 communities, including 1,747 apartment units in five communities held in unconsolidated entities, and 2,266 apartment units in seven communities (and the expansion of one community) currently under construction and/or in lease-up. The Company is also developing and selling 535 for-sale condominium homes in four communities (including 137 units in one community held in an unconsolidated entity) and is converting apartment units in two communities initially consisting of 349 units into for-sale condominium homes through a taxable REIT subsidiary.
Forward Looking Statements
Certain statements made in this press release and other written or oral statements made by or on behalf of the Company, may constitute "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and the Company’s future performance, as well as management’s expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. Examples of such statements in this press release include those related to the Company’s expectations with respect to strategies to enhance shareholder value and the timing of the announcement of additional details regarding these strategies. All forward-looking statements are subject to certain risks and uncertainties that could cause actual events to differ materially from those projected. Management believes that these forward-looking statements are reasonable; however, you should not place undue reliance on such statements. These statements are based on current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.
The following are some of the factors that could cause the Company’s expectations with respect to its strategies to enhance shareholder value and the timing of the announcement of additional details regarding these strategies to differ materially from the expectations described in this press release: future local and national economic conditions, including changes in job growth, interest rates, the availability of mortgage and other financing and related factors; demand for apartments in the Company’s markets and the effect on occupancy and rental rates; the impact of competition on the Company’s business; uncertainties associated with the timing and amount of asset sales, the market for asset sales and the resulting gains/losses associated with such asset sales; the Company’s ability to enter into new joint ventures and the availability of equity financing from traditional real estate investors to fund development activities; the Company’s ability to obtain construction loan financing to fund development activities; uncertainties associated with the Company’s current and planned future real estate development; uncertainties associated with the Company’s condominium conversion and for-sale housing business; uncertainties associated with loss of personnel in connection with an anticipated reduction of the Company’s cost structure; conditions affecting ownership of residential real estate and general conditions in the multifamily residential real estate market; uncertainties associated with environmental and other regulatory matters; the impact of our ongoing litigation with the Equal Rights Center regarding compliance with the Americans with Disabilities Act and the Fair Housing Act as well as the impact of other litigation; and the Company’s ability to continue to qualify as a REIT under the Internal Revenue Code. Other important risk factors regarding the Company are included under the caption "Risk Factors" in the Company’s Annual Report on Form 10-K dated December 31, 2007, as amended, and may be discussed in subsequent filings with the SEC. The risk factors discussed in Form 10-K, as amended, under the caption "Risk Factors" are specifically incorporated by reference into this press release.
Wednesday, June 25, 2008
University of Georgia Research Foundation to Acquire WNEG-TV
The University of Georgia Research Foundation has reached an agreement to acquire WNEG-TV, channel 32, from its current owner, Media General, Inc. Transfer of the license for the television station, which serves Northeast Georgia from studios in Toccoa, is subject to approval by the Federal Communications Commission. The station will be operated by the University of Georgia through its Grady College of Journalism and Mass Communication.
The commercial station will serve Northeast Georgia with high-quality, local interest programming, built primarily around local news and public affairs programming, and featuring UGA academic, cultural and athletic events.
“The acquisition of WNEG is the foundation for development of a Center for Advanced Media, out of which the university plans to distribute its rich content statewide through multiple platforms ranging from satellite to cable to Web,” said E. Culpepper Clark, Grady College dean. “Our first goal, however, will be to provide quality local television programming to Northeast Georgia.”
UGA President Michael F. Adams noted that by acquiring WNEG, the University of Georgia joins a handful of flagship universities nationwide that own commercial licenses. “This provides a winning combination of strengthening local markets by emphasizing local interests, while offering a real-world opportunity for faculty and students to work in research, development and teaching in media,” Adams said. “The revenue produced by this commercial venture will strengthen the operation of the television station while enhancing the research and outreach mission of the university.”
Clark estimated that FCC approval likely would occur this fall. He said the first year of ownership would focus on programming and technical transition, during which the station would continue to operate out of its Toccoa studios until transferring to studios at the Grady College building on the UGA campus. The new UGA-oriented programming is expected to commence in fall 2009, utilizing professional broadcast staff supported by UGA students and their faculty instructors.
“The new WNEG will provide students and faculty with new ways to experience and use media,” Clark said. “Indeed, all units that comprise the university will have at their disposal the means to create and distribute programming that informs, entertains and inspires the best – in short, media as we know it can be.”
Yogen Früz Scoops into Georgia with 10 Stores Planned
(BUSINESS WIRE)--International frozen yogurt chain Yogen Früz has Georgia on its mind with a master franchise agreement that will bring 10 stores to the Peach State over the next few years. The agreement with Atlanta-based LB Yogurt LLC is the third U.S. development contract signed by Yogen Früz in the last month and the sixth since mid-2007, marking the first phase of an expansion into the U.S.
Three U.S. stores are now open in suburban Chicago’s Woodfield Shopping Center and Orland Square Mall as well as San Francisco’s Embarcadero Center, with up to 1,000 U.S. outlets planned by 2018. Master franchise agreements have been signed in the Chicago, San Francisco and Los Angeles metropolitan areas, all of Florida south of the Tampa-St. Petersburg area, and the Virginia/Washington D.C. region.
The star of the Yogen Früz show is “Blend It,” a create-your-own combination of frozen yogurt and flash-frozen fresh fruit that is mixed in the company’s proprietary machines while customers watch. The stores offer a choice of low-fat, non-fat or no-sugar-added yogurt, along with 16 varieties of fruit.
Customers also have a “Top It” option consisting of plain yogurt with a choice of 18 toppings from fruit to granola, carob chips and Cap’n Crunch. Other menu items include dairy and non-dairy smoothies, fresh fruit cups, and parfait-style breakfast yogurt layered with fresh berries.
“Georgia is a key point on our U.S. road map, and LB Yogurt will be a strong territory developer as well as a strong ambassador for our brand,” said Aaron Serruya, President of Yogen Früz. “At the same time, as our third master franchise announcement in a month, this agreement shows the power of the frozen yogurt space in general and the Yogen Früz experience in the space in particular. We may be selling the big chill, but the market is red-hot.”
Apartment Guide Launches Mobile Phone GPS Apartment Search Application
(BUSINESS WIRE)--Apartment Guide, a leading apartment resource for searching apartment communities nationwide, today announced an agreement with Mobile Accord to provide apartment listing content through participating wireless carriers. Subscribers to this service will be able to find apartments for rent by using mobile phones equipped with global positioning system (GPS) technology.
“Apartment Guide makes finding apartments easier through mobile GPS,” said Arlene Mayfield, president of Apartment Guide. “Powered by Qualcomm’s BREW® Platform, the application also enables mobile phone subscribers to search for apartments anywhere in the United States, access prices, photos and property features and contact the leasing office directly.”
“According to ABI Research, North American subscriptions to ‘personal locator services’ using GPS-enabled mobile phones will grow to more than 20 million by 2011,” said James Eberhard, chairman, Mobile Accord. “By enabling consumers to find apartments through GPS on their cell phones, Apartment Guide addresses a growing technological demand and meets the needs of renters ‘on the go.’”
Properties that advertise with Apartment Guide and ApartmentGuide.com will have their listings uploaded for access by mobile subscribers.
BREW stands for Binary Runtime Environment for Wireless.
NCPA Applauds U.S. House Vote in Favor of H.R. 6331
BUSINESS WIRE--The U.S. House of Representatives voted 355 to 59 in favor of H.R. 6331, which represents a veto-proof majority. The health care bill contains three critical provisions for community pharmacies that speed up the reimbursements for Medicare Part D claims, delays below-cost cuts to Medicaid generic prescription drug reimbursement that would have driven thousands of community pharmacies out of business, and suspends the flawed Medicare DMEPOS (durable medical equipment, prosthetics and supplies) competitive bidding program. In response Bruce T. Roberts, RPh, executive vice president and CEO of the National Community Pharmacists Association (NCPA), issued the following statement:
“The U.S. House of Representatives sent a very strong signal about improving our health care system by voting overwhelmingly in favor of H.R. 6331. Part of that improvement will be made possible by three provisions that ensure continued patient access to community pharmacies, by focusing on treating pharmacies fairly and valuing the services they provide. We hope the U.S. Senate will follow suit this week and that ultimately President Bush recognizes the importance of this legislation by signing it into law.”
The National Community Pharmacists Association, founded in 1898, represents the nation’s community pharmacists, including the owners of more than 23,000 pharmacies. The nation’s independent pharmacies, independent pharmacy franchises, and independent chains dispense nearly half of the nation's retail prescription medicines.The US Airways Pilots Resume Contract Negotiations Which Remains a Major Obstacle In The Three Year Old Merger of US Airways and America West
(BUSINESS WIRE)--Two months after the National Mediation Board certified the US Airline Pilots Association (USAPA) to represent the US Airways pilots, the union today initiated pilot contract talks with US Airways Management that, if successful, will remove the major obstacle in bringing the two airlines together. Pilot negotiations broke off 10 months ago due to the disparate pay and working conditions between the two pilot groups, which the former bargaining agent could not resolve.
“We believe it’s time for Management to complete the job it started three years ago and conclude the merger of US Airways and America West,” said USAPA President Steve Bradford. “Although we are hopeful, we will wait and see what Management does - not what they say.”
USAPA represents over 5,000 US Airways pilots in seven domiciles across the United States.
Tuesday, June 24, 2008
Disaster Loan Outreach Centers Closing June 26
PRNewswire-USNewswire/ -- The U.S. Small Business Administration Disaster Loan Outreach Centers located in Carrollton, Georgia (Carroll County) and Wrightsville, Georgia (Johnson County) will close Thursday, June 26 at noon. The SBA urges homeowners, renters, businesses and non-profit organizations that are disaster victims to visit the Centers before they close to obtain one-on-one assistance and information about the disaster assistance program. The SBA also encourages those victims of the severe storms and flooding that occurred on May 11-12, 2008 who received physical disaster loan applications to return their completed applications by the deadline of July 22, 2008.
The Centers are located at:
SBA Disaster Loan Outreach Centers (DLOCs)
Bibb County
Bibb Fire Station # 12
5565 Bloomfield Road
Macon, GA 30126
Open: Monday-Friday
9:00 AM to 6:00 PM
Carroll County
Industrial Training Building
West Georgia Tech College
166 Independence Drive
Carrollton GA 30116
Open: Monday-Wednesday
9:00 AM to 6:00 PM
Thursday: 9:00 AM -12:00 PM
Closes: Thu. June 26 at Noon
Johnson County
Johnson County School
150 Trojan Way
Wrightsville GA 31096
Open: Monday-Wednesday
9:00 AM to 6:00 PM
Thursday: 9:00AM-12:00 PM
Closes: Thu. June 26 at
"We want to express our sincere gratitude to the staff of the Industrial Noon Training Building in Carrollton and the Johnson County School in Wrightsville," said Frank Skaggs, Director of SBA Field Operations Center East. "By providing the facilities for our Disaster Loan Outreach Center, they have helped disaster victims in their community. We deeply appreciate their generosity."
Anyone unable to visit a Center who has registered with FEMA may obtain an application by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 9 p.m. and Saturday and Sunday 9 a.m. to 6 p.m. EDT or by emailing our customer service center at disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to one of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.
The deadline to return physical loan applications is July 22, 2008. The deadline for returning economic injury applications is February 23, 2009.
Blue Cross and Blue Shield of Georgia Introduces New Individual Products
PRNewswire/ -- Today, Blue Cross and Blue Shield of Georgia (BCBSGa) introduced two suites of PPO products called SmartSense and Premier that will provide Georgians with more affordable options for individual insurance.
The SmartSense plan is designed for consumers who are price conscious and want solid protection to cover the essentials. "Georgians who are seeking a health plan that offers affordability and provides coverage for routine services that can help them improve or maintain their health, now have another option, with premiums for SmartSense ranging from as little as $36.82 to $175.64 per month for a healthy 25-year-old male," said Monye Connolly, president of BCBSGa. The SmartSense plans provide coverage for up to three physician office visits a year before a member has to meet a deductible, some preventive benefits and a choice of prescription drug coverage options.
The Premier plan is designed for customers who want the security of a comprehensive benefit design with lower out of pocket costs. This plan is also a good choice for families with children, or those planning to have children. The Premier plan provides unlimited coverage for office visits before having to meet a deductible, provides preventive benefits, comprehensive prescription coverage and offers the ability to add maternity coverage.
SmartSense and Premier provide protection against expensive and unexpected medical bills. "These plans were designed for those consumers who recognize the importance of health coverage, but need flexibility when it comes to cost," said Connolly. "The plans offer a variety of deductibles that will help consumers find a premium they can afford."
"I would like to thank Blue Cross and Blue Shield of Georgia for providing these new and innovative products," said Georgia Insurance and Safety Fire Commissioner John W. Oxendine. "I applaud them for giving Georgians additional options when shopping for their health care needs."
SmartSense and Premier, which BCBSGa will begin offering on July 19, are targeted towards Georgians who work for companies that do not offer health care coverage, as well as early retirees and others who want a cost effective option.
Connolly says the availability of SmartSense and Premier will be appealing options for many Georgians who want more control over their health care choices and reflects the company's on-going commitment to reduce the percentage of Americans who are uninsured.
"Our goal is to offer a menu of plans that provide consumers with benefits that address a variety of life stages," said Connolly. "As we move forward, we will continue to focus on providing affordable plans that maintain the high quality and value-added benefits consumers have come to expect."
Members choosing SmartSense and Premier have access to more than 15,000 Georgia PPO network doctors and specialists and nearly 170 hospitals. These plans also provide coverage outside the state of Georgia through the Blue Card program.
In addition to SmartSense and Premier, BCBSGa also offers Tonik -- an individual product targeted toward Georgia's "young invincibles" -- individuals between the ages of 18 and 29. Since introducing the products in 2006, more than 8,000 Georgians are covered by Tonik.
For more information about SmartSense and Premier or other BCBSGa products, contact your authorized Blue Cross and Blue Shield of Georgia agent or call 1-800-896-2583, or visit us at www.BCBSGA.com .
Delta Reaches Unprecedented Joint, Pre-Merger Agreement with Delta, Northwest Units of Air Line Pilots Association, Int’l.
Delta Air Lines (NYSE: DAL) today confirms that a tentative agreement has been reached between the Delta Air Lines and Northwest Airlines units of the Air Line Pilots Association (ALPA) on a joint contract to take effect upon closing of the Delta-Northwest merger, expected later this year. The pilot groups also have established a separate process designed to establish a single pilot seniority list by the close of the merger.
Delta CEO Richard Anderson issued the following statement in response:
“We are pleased that the Delta and Northwest pilot groups have reached a tentative agreement and have outlined a process for seniority integration that will allow us to move forward with a unified pilot group. Achieving a joint contract and combined seniority list in advance of the closing of the merger is something that has never been done in this industry and is a testament to the leadership of ALPA and a working together culture.”
The tentative agreement is subject to ratification by both airlines’ pilot groups.
Delta in April announced that it is combining with Northwest in an all-stock transaction to create America’s premier global airline. The new company will be called Delta and will be headquartered in Atlanta. Combined, the company and its regional partners will provide customers access to more than 390 destinations in 67 countries. Together, Delta and Northwest will have more than $35 billion in aggregate annual revenues, operate a mainline fleet of nearly 800 aircraft, employ approximately 75,000 people worldwide, and have one of the strongest balance sheets in the industry. The merger is subject to the approval of Delta and Northwest shareholders and regulatory approvals, which are expected to be completed later this year.
Delta Air Lines operates service to more worldwide destinations than any airline with Delta and Delta Connection flights to 324 destinations in 62 countries. Delta has added more international capacity than any major U.S. airline during the last two years and is the leader across the Atlantic with flights to 43 trans-Atlantic markets. To Latin America and the Caribbean, Delta offers 600 weekly flights to 62 destinations. Delta's marketing alliances also allow customers to earn and redeem SkyMiles on more than 16,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 474 worldwide destinations in 104 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.
Forward-looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,’ “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Delta's and Northwest’s expectations with respect to the synergies, costs and charges and capitalization, anticipated financial impacts of the merger transaction and related transactions; approval of the merger transaction and related transactions by shareholders; the satisfaction of the closing conditions to the merger transaction and related transactions; and the timing of the completion of the merger transaction and related transactions. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside our control and difficult to predict. Factors that may cause such differences include, but are not limited to, the possibility that the expected synergies will not be realized, or will not be realized within the expected time period, due to, among other things, (1) the airline pricing environment; (2) competitive actions taken by other airlines; (3) general economic conditions; (4) changes in jet fuel prices; (5) actions taken or conditions imposed by the United States and foreign governments; (6) the willingness of customers to travel; (7) difficulties in integrating the operations of the two airlines; (8) the impact of labor relations; and (9) fluctuations in foreign currency exchange rates. Other factors include the possibility that the merger does not close, including due to the failure to receive required stockholder or regulatory approvals, or the failure of other closing conditions. Delta cautions that the foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in Delta’s and Northwest’s most recently filed Forms 10-K. All subsequent written and oral forward-looking statements concerning Delta, Northwest, the merger, the related transactions or other matters and attributable to Delta or Northwest or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Delta and Northwest do not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.
Additional Information About the Merger and Where to Find It
In connection with the proposed merger, Delta will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 that will include a joint proxy statement of Delta and Northwest that also constitutes a prospectus of Delta. Delta and Northwest will mail the joint proxy statement/prospectus to their stockholders. Delta and Northwest urge investors and security holders to read the joint proxy statement/prospectus regarding the proposed merger when it becomes available because it will contain important information. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC’s website (http://www.sec.gov/). You may also obtain these documents, free of charge, from Delta’s website (http://www.delta.com/) under the tab “About Delta” and then under the heading “Investor Relations” and then under the item “SEC Filings.” You may also obtain these documents, free of charge, from Northwest’s website (http://www.nwa.com/) under the tab “About Northwest” and then under the heading “Investor Relations” and then under the item “SEC Filings and Section 16 Filings.” Delta, Northwest and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from Delta and Northwest stockholders in favor of the merger. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Delta and Northwest stockholders in connection with the proposed merger will be set forth in the proxy statement/prospectus when it is filed with the SEC. You can find information about Delta’s executive officers and directors in its definitive proxy statement filed with the SEC on April 25, 2008 related to Delta’s 2008 Annual Meeting of Stockholders. You can find information about Northwest’s executive officers and directors in its Amendment to its Annual Report on Form 10-K filed with the SEC on April 29, 2008. You can obtain free copies of these documents from Delta and Northwest using the contact information above.
Flowers Foods Announces Merger With Holsum Bakery of Phoenix
PRNewswire-FirstCall/ -- Flowers Foods, Inc. (NYSE:FLO) today announced it has entered into a definitive merger agreement with Holsum Bakery, Inc. The agreement is subject to regulatory approval under the Hart-Scott-Rodino Act and other conditions. The merger will be structured as a merger of a wholly owed subsidiary of Flowers in exchange for cash and Flowers stock. The announcement was made today by officials of both companies.
Holsum Bakery, which operates profitably on annualized sales of approximately $146 million, is a family-owned business with two bakeries in the Phoenix area. The company employs 580 people and sells its products through independent distributors that serve retail and foodservice customers in Arizona, New Mexico, southern Nevada and Southern California with fresh breads and rolls under the Holsum, Aunt Hattie's, and Roman Meal brands.
George E. Deese, Flowers Foods' chairman of the board, chief executive officer and president said, "We are fortunate to have this fine organization merge with Flowers Foods. The Eisele family name is one of the oldest and most respected in the baking industry. Holsum and Flowers have similar operating strategies and business ethics. This merger of Holsum and Flowers further strengthens our operations and brings new talent to our company. We look forward to the growth opportunities the merger will provide as we strategically expand our geographic footprint and continue to build value for our shareholders."
Commenting on the merger, Ed Eisele, president and majority owner of Holsum, said, "Our team is pleased to become part of Flowers Foods. Our companies have a shared commitment to the highest quality products, excellent customer service, and constant innovation and investments to keep our bakeries the best in our industry. It also is important to note that the culture within Flowers and Holsum is nearly identical and this will be a great fit for both organizations. We truly look forward to expanding into new geographies with an even broader product line than we have today."
Deese noted that Eisele will continue to lead the business when the merger is completed. Holsum Bakery, Inc. will operate under its current name as a part of Flowers Foods. "Under Ed's leadership, Holsum Bakery has achieved strong sales and earnings growth and we expect that growth trend to continue once the merger is accomplished," Deese said.
Holsum Bakery, Inc., established in 1881, is Arizona's oldest family-owned business. Holsum provides fresh bakery products to retail and foodservice customers in Arizona, New Mexico, Southern California, and southern Nevada. Holsum is the market-share leader in the region with its Holsum, Aunt Hattie's, and Roman Meal breads and rolls. Operating two bakeries in Arizona, Holsum has a reputation for quality, freshness, and nutrition.
US Airways Inks Codeshare Pact with Air China
BUSINESS WIRE--US Airways (NYSE: LCC) customers will soon have more Asia-Pacific connecting options through a new US Airways codeshare relationship with Star Alliance member carrier Air China Limited. The agreement puts the US code on Air China service to Beijing from Los Angeles, San Francisco and New York City’s John F. Kennedy International Airport.
US Airways will also put its code on connecting flights to Shanghai through Air China’s Beijing hub. However, these connecting options are only available for bookings that include Los Angeles or San Francisco-Beijing service. Customers may purchase these new US Airways travel options beginning June 25, 2008.
Conversely, Air China will put its code on US Airways flights from Los Angeles and San Francisco to Phoenix, Las Vegas, Charlotte, N.C., Philadelphia and Pittsburgh.
“We continue to expand our network across the Pacific through our codeshare partners. Air China provides our customers with three U.S. gateways to Beijing and Shanghai, and we now have codeshare arrangements to over 20 destinations in the Asia-Pacific region,” said Andrew Nocella, US Airways’ senior vice president, schedule planning and alliances.
“We are pleased to establish this partnership with US Airways, which enhances our cooperation within the Star Alliance network. We believe passengers will benefit from our cooperation, with more convenience and choice through our expanded network and competitive products,” said, Zhang Lan, Air China’s senior vice president.
Harry Norman, Realtors President Lewis Glenn Retires, Successor Named
Rismedia - After months of thoughtful consideration, Harry Norman, Realtors® President and CEO, Lewis Glenn, announced his retirement from Harry Norman, Realtors to pursue other personal and professional opportunities. Senior Vice President and General Manager, Martha Hayhurst, will succeed Glenn as President of Harry Norman, Realtors®.
Lewis Glenn was named President and CEO of Harry Norman, Realtors® by the late Harry Norman, Jr. in 1994. Glenn and a group of managing partners led the company until it was sold to its present owner, HomeServices of America - a Berkshire Hathaway affiliate, in May 2006. Prior to being named President, Glenn served as vice president and managing broker of the company’s Buckhead/Northwest office.
“My decision to retire has been made easier by having the current leadership team in place. Harry Norman, Realtors leadership team is committed to taking our company to the next level of greatness. Our company values, principles, good name and reputation are still in place today and this team will only enhance our heritage and legacy. It has been a great honor and pleasure serving as the President and CEO of Harry Norman, Realtors® and I leave this company deeply grateful for the opportunity to be of service to our sales associates, staff members and leadership team. I admire Martha Hayhurst’s professional expertise and leadership skills and after observing her thorough commitment to the success of everyone connected with Harry Norman, Realtors, I am confident in her ability to lead this company to its next level of accomplishment,” said Glenn.
Ron Peltier, chairman and CEO of HomeServices of America, said the following of the announcement:
“I want to personally thank Lewis on behalf of HomeServices for his strong leadership, his dedication to the company and its people, and for his passion to always strive for excellence in our business. I’m sure that, like his colleagues across the HomeServices family, everyone at Harry Norman, Realtors will miss Lewis. I also want to congratulate Martha Hayhurst in her new role as President of Harry Norman, Realtors®. Everyone at HomeServices wishes her the very best in this endeavor. Martha has demonstrated a strong passion to do what’s best for the company and the leadership skills necessary to act on them. HomeServices is committed to the long-term growth and success of Harry Norman, Realtors.”
Martha Hayhurst served as a Senior Vice President since 2006, first as the Senior Vice President in charge of Branch Growth and Development and most recently as the Senior Vice President and General Manager in charge of the overall operations of Harry Norman, Realtors®. Hayhurst joined Harry Norman, Realtors® as Vice President and Managing Broker of the Peachtree City Office, which she opened in 2001.
With more than 20 years experience as a Realtor® in the metropolitan Atlanta area, the Fayette County Board of Realtors® named Hayhurst Realtor® of the Year in 2000 and 2002. She was named as one the top 40 most influential Realtors® in Atlanta for three years by the Atlanta Business Chronicle; she is the recipient of the inaugural President’s Award for service to the Fayette Board of Realtors®, the past President of the Fayette County Board of Realtors and chair or vice chair of many Georgia Association of Realtors committees.
“Being named President of Harry Norman, Realtors, a nationally recognized leader in the real estate industry, is an honor and humbling responsibility. This is an opportunity of great magnitude and I meet this challenge with excitement. I am tremendously grateful to Lewis Glenn and my fellow leaders for preparing me for this task through their fellowship and support,” said Hayhurst.
Hayhurst continued, “Together with our leadership team, I can promise that Harry Norman, Realtors core values of uncompromising honesty and integrity will not change. We will provide nurturing courageous leadership that is not afraid to make difficult decisions with compassion for all involved. We will continue to be a results-oriented company; a place where people are encouraged to grow and flourish, and where they are recognized for their commitments and accomplishments that help to better the entire organization. Together, our leadership team will be relentless in our pursuit of excellence. “
Saturday, June 21, 2008
Statement from Governor Perdue Regarding NBAF
Today the U.S. Department of Homeland Security issued the Draft Environmental Impact Statement for the sites competing for the National Bio and Agro-Defense Facility (NBAF). Governor Perdue issued the following statement:
“Georgia continues to enjoy great success within the Bioscience industry as evidenced by the announcement of more than 500 jobs for our state just this week at the 2008 BIO International Conference in San Diego.
“We believe that Athens as one of the five finalists, home to the University of Georgia and just down the road from the Centers for Disease Control in Atlanta, is an optimal location for NBAF. UGA is already home to a Biosafety Level 3 laboratory and a nationally recognized veterinary school. Athens’ close proximity to the world’s busiest airport, Hartsfield-Jackson, will give the nation the advantage of rapidly responding to zoonotic disease threats anywhere in the world. We are also excited about the economic impact it would have on Northeast Georgia and the selection of Athens would further cement our state as the crossroads of global health.
“As we continue to participate in the selection process, we look forward to competing on a fair and equitable basis and to make the best presentation possible. We will coordinate these efforts with the help of Senators Chambliss and Isakson, the Congressional delegation, the University of Georgia and Athens as we earn NBAF on our own right.”
Thursday, June 19, 2008
Governor Perdue Announces Alabama Medical Software Company To Relocate Headquarters To Atlanta
Governor Sonny Perdue announced today that DocuSys, Inc., the leading anesthesia information management system (AIMS), medication management system and presurgical care management system provider, plans to relocate its headquarters to Atlanta. This move will create 300 jobs over the next three years.
“DocuSys’ decision to relocate its headquarters to Georgia is a clear indicator of the attraction that the state holds for top-notch companies in the healthcare IT sector,” said Governor Perdue. “We have the skilled professionals, global access, and spirit of collaboration that together create the thriving environment healthcare technology companies need to succeed.”
Governor Perdue made today’s announcement from the 2008 BIO International Convention in San Diego, the world’s leading conference and exhibition for the biosciences community.
DocuSys, based in Mobile, Ala., has relocated its headquarters to midtown Atlanta. The jobs the company brings will range from software engineering, software implementation and client services to product management and sales positions within the healthcare IT market. The company will maintain a presence in Alabama.
“Atlanta offers a developing healthcare technology company like DocuSys a sizeable pool for finding talented and experienced applicants with the necessary skills we need for each specific position,” said DocuSys President and Chief Executive Officer Robert Watson. “The Georgia Department of Economic Development and the Metro Atlanta Chamber of Commerce have been extremely helpful to our company during this transition and we are pleased to partner with one of the fastest-growing cities in the U.S.”
“Metro Atlanta’s reputation as a stronghold for high-tech and healthcare companies is growing with the announcement of DocuSys,” said Hans Gant, senior vice president of economic development for the Metro Atlanta Chamber of Commerce. “Atlanta is among the fastest growing high-technology metro areas in the nation and has 10,000 technology companies employing nearly 200,000 technology workers. Our talent, low-cost of doing business and quality of life makes Atlanta the right choice for DocuSys.”
Costas Simoglou, project manager for the Georgia Department of Economic Development, and David Hartnett, vice president, technology industry expansion for the Metro Atlanta Chamber of Commerce, assisted the company in its location efforts.
DocuSys is the leading anesthesia information management system (AIMS), medication management system and presurgical care management system provider, maximizing both the quality of care and return on investment in surgery. The company provides solutions that address all stage of the anesthesia care delivery process, including the presurgical evaluation process. Additional benefits of the system include ease of use, billing and charge capture automation and aligning such quality measures as CMS’ pay-for-performance (P4P) program with financial objectives. DocuSys’ modular design permits integration with existing hospital information systems, electronic medication dispensing cabinets, infusion pumps, physiologic monitors and other systems in those settings where intravenous drug delivery is key. The company has received 510(k) clearance from the Food and Drug Administration (FDA) to market its technology and is a registered medical device manufacturer in accordance with FDA guidelines.
For more information, visit www.docusys.net or call 404-541-2700.
Governor Perdue Announces Dicon Technologies to Build New U.S. Manufacturing Facility in Bryan County
Governor Sonny Perdue announced today that Dicon Technologies, Inc., a medical component manufacturer and a supplier to U.S. troops, will construct a new facility in coastal Bryan County. The company will create up to 100 jobs in the next five years and invest almost $3.7 million.
“I am proud to welcome an innovative company to like Dicon Technologies to Georgia,” said Governor Sonny Perdue. “Dicon will find that Georgia workers have the kinds of skills and commitment to the job that helps companies grow and thrive.”
Governor Perdue made today’s announcement from the 2008 BIO International Convention in San Diego, the world’s leading conference and exhibition for the biosciences community.
Dicon’s medical components are used in the skin care, foot care and medical industries and are customized for sale to companies and hospitals. The company’s medical products focus on diabetic wound care, cosmeceuticals and foot care, which are sold globally under its own brands and through partnerships with some of the largest retailers in the world, including K-Mart, Albertson’s and numerous drugstore chains. Dicon, which currently manufactures all of its products in China, has made the progressive decision to manufacture many of its current and future technology-driven advanced products in Bryan County. Some of these new medical products are intended to supply U.S. troops serving in Iraq and elsewhere around the world.
“We are very impressed by Georgia’s progressive economic development and partnership programs, as well as the skilled workforce here,” said Sam Ginsberg, chairman of Dicon Technologies. “Those factors, in addition to ease of exporting thanks to our proximity to Georgia’s ports and to Dow Chemical, a key strategic partner, give us great confidence that Georgia is the right location to make the technology-driven, advanced products the health industry demands.”
Dicon will occupy a temporary location in July and will locate in its new building in the Interstate Centre business park in December 2008. The company will use Georgia’s award-winning QuickStart program to train its workforce. The privately-owned company, based in Allendale, N.J., is also considering a relocation of its headquarters, as well as its research and development facility, to Georgia.
“Bryan County is an ideal location for companies like Dicon who are looking for a solid infrastructure, talented workforce and access to the amenities of Savannah and the coast,” said Jean Bacon, executive director of the Development Authority of Bryan County. “We look forward to counting Dicon among our corporate citizens and to helping them grow.”
Andrew Neumann, project manager for the Georgia Department of Economic Development, and Peggy Jolley, of Georgia Power, collaborated with the Bryan County Development Authority, Herty Advanced Materials Development Center and Quantum, Inc. special needs center to assist the company with its location.
FORTUNE Small Business Magazine Ranks Ebix at the Top amongst Fastest Growing Public Companies in Georgia
BUSINESS WIRE--FORTUNE Small Business announced today that Ebix, Inc. (NASDAQ:EBIX) has been ranked 23rd on the annual FSB 100 list of the fastest growing small public companies in America. The list, which is comprised of public companies, will appear in the July/August 2008 issue of FORTUNE Small Business Magazine.
For the fourth consecutive year, FORTUNE Small Business Magazine has ranked Ebix amongst the Hundred Fastest Growing Public Companies in America. FSB also ranked Ebix No. 1 fastest growing public company in the state of Georgia. Ebix was also ranked No. 6 nationally in the Technology sector by the magazine.
To compile the sixth annual list, FORTUNE Small Business asked financial research firm Zacks to rank public companies with revenues less than $200 million and a stock price of more than $1, based on their percentage growth in earnings, revenue, and stock performance over the past three years.
New UPS Services Making It Easier to Go Global, Go Green
BUSINESS WIRE--As U.S. businesses face challenges associated with a sluggish domestic economy, many are looking to markets overseas. Two technology-enabled services from UPS (NYSE:UPS) are making it easier than ever for businesses large and small to expand beyond U.S. shores -- and helping them go green while they’re at it.
Introduced in January, the industry-first solutions -- UPS Paperlesssm Invoice and international UPS Returns® -- now are available within the UPS Shipping Tool, an application program interface (API) that enables customers to integrate them into their own web sites and enterprise applications. They’re already helping thousands of UPS customers manage shipments to 98 countries and territories around the world via UPS shipping systems like UPS WorldShip®, UPS CampusShip™ and UPS Internet Shipping.
"It’s more important than ever for small- and medium-sized companies to look at global markets and to leverage technology to act ‘big,’ even as they retain the flexibility of a smaller company," said Jordan Colletta, UPS vice president of customer technology marketing. "With the spotlight on operational costs, these UPS services allow businesses of all sizes to overcome some of the complications of operating internationally in a cost-effective manner."
UPS Paperless Invoice
UPS Paperless Invoice, the only solution of its kind offered by transportation carriers today, saves time, money and trees. Since its introduction in January, customers with shipments originating in more than 30 countries have processed hundreds of thousands of “go paperless” shipments.
The free-of-charge solution enables customers to increase efficiency by integrating order processing, shipment preparation and commercial invoice data. It then transmits that data to customs offices across the globe electronically, eliminating the need for error-prone or incomplete paper documentation that is the main reason international shipments are delayed.
Because information is stored electronically, customers greatly reduce their chance of making manual errors filling out Customs documentation, and the tech-enabled service prevents them from submitting incomplete paperwork that could result in a shipment being held for clearance.
Paperless Invoice simplifies international shipping for UPS customers like hip consulting group, a Denver-based event management company, and PBD Worldwide Fulfillment Services of Alpharetta, Ga.
"Using UPS Paperless Invoice has saved us a lot of time and resources, especially with the amount of international business we do," said Becky Furstenberg, hip consulting group office manager. "It’s nice to know that I don’t have to worry about that piece of the puzzle anymore and as a company trying to ‘go green,’ it’s a bonus not having to waste so much paper." Hip estimates it saves a ream of paper on a monthly basis as a result of UPS Paperless Invoice.
Steve Hochradel, assistant vice president of distribution at PBD Worldwide Fulfillment Services, described the old system of keying in information, printing three copies of the commercial invoice and stuffing them in a clear plastic pouch as “manual and tedious.”
“What was taking 20 seconds is now less than five with UPS Paperless Invoice,” Hochradel said. “When you look at a peak volume of more than 3,000 international shipments per day, and saving 15 seconds on each, that’s a lot of time and a lot of money. That frees up a couple of people.”
In addition, eliminating multiple printed copies saves PBD about two pallets of copy paper per year and about 150 toner cartridges. “That adds up to several thousand dollars, a bunch of trees and eliminates concerns over disposal of toner cartridges,” Hochradel added.
UPS Returns
Many companies hesitate to sell globally over the Internet because of the difficulty of facilitating a return if a customer is not satisfied.
Another first-to-market solution, UPS Returns allows customers to efficiently return purchased items from 98 countries or territories around the globe. Now, business and residential customers can receive the international return label and commercial invoice via e-mail, local post or from the UPS driver picking up the return package.
UPS Returns is easily accessed via UPS shipping systems like UPS WorldShip or UPS Internet Shipping and also can be integrated into a company's systems or Web site.
"Before UPS Returns, many of our international returns, especially from residential customers, would end up abandoned,” said PBD’s Hochradel. “Depending on the value of the shipment, sometimes the time and labor, plus the cost of the freight, just wasn’t worth it.”
California-based MicroDental is beginning to expand its business to Europe and Asia and UPS Returns is making it much easier for overseas dentists to send back patient impressions, said Production Support Manager Alan Bayles. He said one English dentist was having trouble returning items using another shipper, but has experienced no problems since MicroDental began using UPS Returns and now has increased his shipments from one or two per month to five to 10 per month.
“It’s been a great thing for him and it’s helping our business,” Bayles said.
Wednesday, June 18, 2008
SBA Disaster Assistance Available to Private Non-Profit Organizations in Georgia
PRNewswire-USNewswire/ -- The U.S. Small Business Administration announces that certain Private Non-Profit Organizations (PNPs) that do not provide critical services of a governmental nature may be eligible to apply for low interest rate disaster loans. These loans are available as a result of President Bush's Disaster Declaration for Public Assistance resulting from damages caused by severe storms and flooding on May 11 - 12, 2008.
PNPs located in Bibb, Carroll, Crawford, Douglas, Emanuel, Glynn, Jefferson, Jenkins, Johnson, Laurens, McIntosh, Treutlen, Twiggs and Wilkinson counties in the State of Georgia are eligible to apply to SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
"PNP organizations are urged to contact their county emergency managers to obtain information about local briefings. At the meeting, PNP representatives will provide information about their organization," said Frank Skaggs, Director of SBA Field Operations Center East.
This information will be used to submit a "Request for Public Assistance" which FEMA uses to determine if the PNP provides an essential governmental service and meets the definition of a "critical facility." Based upon that conclusion, FEMA will either refer the PNP to SBA for disaster loan assistance or possibly provide a "Public Assistance" reimbursement grant for eligible costs.
Disaster loan information and application forms may be obtained by calling the SBA's Disaster Assistance Customer Service Center at 1-800-659-2955 (for the hearing-impaired 1-800-877-8339) Monday through Friday from 8 a.m. to 9 p.m. and Saturday and Sunday 9 a.m. to 6 p.m. (EDT), emailing our customer service center at disastercustomerservice@sba.gov or by writing to U.S. Small Business Administration, Disaster Assistance Customer Service Center, 130 South Elmwood Avenue, Buffalo, NY 14202-2463.
The deadline to apply for these loans is July 22, 2008.
For more information about the SBA's Disaster Loan Programs, visit our website at www.sba.gov.
Source: U.S. Small Business Administration
Disaster Recovery Center in Macon Transitions to a Disaster Loan Outreach Center; SBA's Deadline to Apply for Physical Damage Disaster Loans is July 2
PRNewswire-USNewswire/ -- The U.S. Small Business Administration (SBA) announces today that the Disaster Recovery Center in Macon will transition into a SBA Disaster Loan Outreach Center beginning Friday, June 20 at the Bibb County Fire Station # 12, 5565 Bloomfield Road, Macon, Georgia. Homeowners, renters, businesses and non-profit organizations have one month remaining to submit disaster loan applications for physical damage. The deadline to file an application for physical damage is July 22, 2008.
Disaster victims who received damage from the severe storms and flooding that occurred on May 11 - 12, 2008 in Bibb, Carroll, Douglas, Emanuel, Jefferson, Jenkins, Johnson, Laurens, McIntosh and Twiggs counties in the State of Georgia are eligible to apply for SBA disaster loans for physical damage.
The establishment of the Disaster Loan Outreach Centers demonstrates SBA's commitment to ensure that every qualified individual and business receives the help they need to recover from this disaster. "Assisting individuals to recover from a disaster is our primary mission. We are encouraging anyone affected by this disaster to visit the Centers while we still have staff there and obtain individual assistance with completing their loan applications from our representatives," said Frank Skaggs, Director of SBA Field Operations Center East.
The Centers are located in the following communities:
FEMA/SBA Disaster Recovery Centers (DRCs)
Bibb County
Bloomfield Middle School
4375 Bloomfield Drive
Macon GA 31206
Open: Through Thursday
8:00 AM to 6:00 PM
Closing: Thursday, June 19 at 6:00 PM
SBA Disaster Loan Outreach Centers (DLOCs)
Bibb County
Bibb Fire Station # 12
5565 Bloomfield Road
Macon, GA 30126
Opens: Friday, June 20
Open: Monday-Friday
9:00 AM to 6:00 PM
Carroll County
Industrial Training Building
West Georgia Tech College
166 Independence Drive
Carrollton GA 30116
Open: Monday-Friday
9:00 AM to 6:00 PM
Johnson County
Johnson County School
150 Trojan Way
Wrightsville GA 31096
Open: Monday-Friday
9:00 AM to 6:00 PM
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage in the future.
The SBA offers Economic Injury Disaster Loans (EIDLs) for small businesses to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
Interest rates are as low as 2.687 percent for homeowners and renters and 4.000 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant's financial condition.
The SBA urges anyone who has not registered for assistance to call FEMA at 1-800-621-FEMA (3362), regardless of the status of any insurance claim. FEMA will refer you to the agency best able to meet your disaster-related needs.
Anyone unable to visit a Center who has registered with FEMA may obtain an application by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 9 p.m. and Saturday and Sunday 9 a.m. to 6 p.m. EDT or by emailing our customer service center at disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website at www.sba.gov . Completed applications should be returned to one of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.
The deadline to return applications for physical property damage is July 22, 2008. The deadline to return applications for Economic Injury Disaster Loans (EIDLs) is February 23, 2009.
For more information about the SBA's Disaster Loan Programs, visit our web site at www.sba.gov
Source: U.S. Small Business Administration
Governor Perdue Announces Georgia Selected as Home for New National Health Museum
Governor Sonny Perdue today announced that Georgia will be home to the new National Health Museum (NHM). The museum, which will be located in downtown Atlanta, is expected to bring 135 jobs and approximately $230 million in initial investment to the state and add to Georgia’s growing list of unique and interactive attractions.
“The National Health Museum will give Georgians and visitors alike the opportunity to understand and experience the revolutions in health sciences that are helping people across the world live healthier lives,” said Governor Perdue. “The museum, combined with other Georgia-based institutions such as the Centers for Disease Control and Prevention, CARE, the Arthritis Foundation and the American Cancer Society, cements Georgia’s position as the crossroads of global health in the 21st century.”
The Governor spoke from the Georgia Pavilion at the 2008 BIO International Convention, the world’s leading conference and exhibition for the biosciences community.
NHM will be a 21st century science-based attraction with the mission of inspiring Americans to live healthier lives through access to knowledge and themed exhibits focused on the life sciences.
The physical museum will deliver health-related content and experiences to millions of visitors, inspire America’s next generation of caregivers and life scientists and help the nation remain at the forefront of health discovery, technology, practice and care.
The museum will be funded by a combination of personal, corporate, foundation and government contributors. NHM has secured more than $12 million to operate current educational programs, build an online CyberMuseum and plan for the physical museum.
NHM has the active support of every major sector of the health community and the endorsements of more than 150 major health and medical organizations.
The NHM board, which includes corporate, association and public service leaders from the healthcare community, is chaired by former U.S. Secretary of Health and Human Services and President Emeritus of Morehouse School of Medicine Louis W. Sullivan, M.D. The founding chairman is the former U.S. Surgeon General C. Everett Koop, M.D., who now serves as Chairman Emeritus.
“The National Health Museum is an unprecedented global enterprise that will share health-related information and experiences with hundreds of millions of people,” Dr. Sullivan said. “Visitors to the National Health Museum will acquire a profound personal appreciation for the benefits of good health and find themselves at the center of their own transformative experiences.”
The Coca-Cola Company, which has long been a catalyst for the revitalization of downtown Atlanta, played an instrumental role in recruiting the National Health Museum, donating $1 million in seed funding to help support the museum’s development in Atlanta. The company also supports the museum’s commitment to building healthy lifestyles, which dovetails with its support of nutrition education and programs that encourage and promote active living.
The National Health Museum estimates that it will attract between 1.1 million and 1.4 million annual visitors to a location in downtown Atlanta, near Centennial Olympic Park. The National Health Museum Board of Trustees is currently considering several site opportunities in this dynamic neighborhood, which is home to a variety of highly popular visitor attractions. The museum will also help Atlanta draw health-related conferences and conventions to Georgia.
“We are very enthusiastic about helping the National Health Museum locate to Atlanta, as we believe it will be a great addition to downtown's cultural and educational resources,” said Muhtar Kent, President and Chief Operating Officer, The Coca-Cola Company. “The museum’s goal of presenting health, nutrition and physical education in a fun and engaging way is consistent with our company and bottlers’ ongoing efforts to do all we can to promote healthy, active lifestyles.”
Additional organizations, corporations and individuals who have provided support to enable the National Health Museum’s location in Atlanta include Emory Healthcare; Kaiser Permanente Georgia; Northrop Grumman; the CDC Foundation; Children’s Healthcare of Atlanta; Dr. David J. Allen and Associates; CardioMEMS; and Frank and Joyce Hauser.
The facility is being designed by renowned architect Moshe Safdie, who also designed the Jepson Center for the Arts in Savannah, Ga., the National Gallery of Canada in Ottawa and the Kauffman Center for the Performing Arts in Kansas City, Mo. Experiences and exhibits will be created by BRC Imagination Arts, one of the world’s leading designers of museum exhibits and themed entertainment.
For more information on the National Health Museum visit http://www.nationalhealthmuseum.org .
Delta President and CFO Provides Update On Response to Record Fuel Prices, Ongoing Steps to Build Industry-Leading Global Airline
(PRIME NEWSWIRE) -- Delta Air Lines (NYSE:DAL) President and Chief Financial Officer Edward H. Bastian today at the Merrill Lynch Global Transportation Conference will provide updated guidance on the company's efforts to fight rising fuel costs and its long-term approach to building a sustainable, profitable business model. Proactive initiatives focus on:
* Improving profitability through continued domestic capacity
rationalization and building a diverse international network
which includes service to unique and emerging markets. Delta
consolidated domestic capacity is now expected to be down 13
percent during the second half of the year, an increase from
the 10 percent reduction announced in March; international
capacity expected to be up 14 percent for the same period.
* Maintaining a strong liquidity position, despite the $4 billion
impact in 2008 of unprecedented fuel prices.
* Completing the proposed merger with Northwest Airlines to build a
strong global competitor with increased cost and revenue
synergies.
"Delta has been a first-mover to aggressively respond to the challenges facing our industry with domestic capacity cuts, associated cost reductions, and a focus on preserving liquidity," Bastian said. "These actions combined with our game-changing merger with Northwest are positioning Delta for long-term success as a strong competitor against any airline around the globe."
Improving profitability through international growth, domestic capacity reductions
By successfully realigning its network to rationalize domestic capacity while expanding globally, Delta's revenue per available seat mile has improved from 86 percent of industry average in 2005 to 102 percent of industry average through the first four months of 2008. International flying continues to be a strong component of the carrier's business plan with service to five continents and 20 new international routes launched in 2008. International capacity for the year is expected to be up 15-17 percent -- in line with previous guidance.
In response to rising fuel costs, the company is adding to previously announced plans to reduce domestic capacity by 10 percent year over year in the second half this year and now plans for total domestic capacity reductions of 13 percent in the second half of 2008. As previously announced, Delta plans to remove the equivalent of 15-20 mainline and 60-70 regional jet aircraft from its operation by the end of 2008.
While capacity reductions have resulted in some market cancellations, most are being made through frequency and point-to-point reductions, as well as seasonal adjustments. Delta will continue to monitor the economic and fuel environment and make additional adjustments as necessary.
"The diversity of Delta's network has provided the financial balance we need to counteract the soft U.S. economy and tough fuel environment. International routes continue to be a boon for us as we carefully manage domestic capacity. While it's important to maintain a broad domestic presence for our customers and employees, as well as to feed international routes, we remain flexible and will make additional adjustments if needed," said Bastian.
Delta in December began adjusting domestic capacity in light of record fuel costs. Previously announced route cancellations have included service between Orlando and cities such as Las Vegas; Fort Lauderdale, Fla.; and Little Rock, Ark., as well as nonstop flights between Boston and cities such as Charleston, S.C. and Greensboro, N.C.
While a small number of additional market cancellations are expected as fall schedules are finalized, most reductions are being achieved through frequency reductions and by eliminating a number of unprofitable routes with particular focus on point-to-point flights that can more profitably and efficiently be served via Delta's hubs. Sample cancellations, effective late summer, include flights between:
* Orlando, Fla. and Nashville, Tenn.; Key West, Fla.; Raleigh-
Durham, N.C.; Birmingham, Ala.; Columbus, Ohio; Lexington, Ky.;
New Orleans, La.; Panama City, Fla.; Richmond, Va.; Louisville,
Ky.; and Knoxville, Tenn.;
* Boston and Jacksonville, Fla. and Norfolk, Va.;
* Las Vegas and Los Angeles; and
* Pensacola, Fla. and Fort Lauderdale and Tampa, Fla.
As part of Delta's commitment to both provide employees with flexibility and remove costs associated with capacity reductions, the airline in March was the first U.S. carrier to announce voluntary retirement and early out programs for employees. With more than 4,000 Delta and Delta Technology employees electing to participate in the programs, the airline is positioned ahead of the industry to achieve cost reductions associated with capacity pull downs.
Expecting profitable June quarter, excluding special items; maintains strong liquidity position
Delta expects a profitable June quarter excluding special items(1), and expectations remain in line with previous guidance. Despite a $4 billion increase in fuel costs in 2008, the airline's liquidity remains strong thanks to a solid operating cash flow, controlled capital expenditures and aggressive fuel hedge program. The airline expects to end 2008 with $3.2 billion in unrestricted liquidity, down just $600 million from Dec. 31, 2007.
Delta's aggressive, multiyear fuel hedge strategy is expected to offset nearly $1 billion in fuel cost impact for 2008 and continue to provide benefits in subsequent years. The airline's hedge portfolio through 2010 is currently valued at approximately $1.5 billion.
June 2008 Quarter Second Half: 2008
----------------- -----------------
Operating Margin 3 - 4%
Fuel Price $3.18 $3.63
Mainline Non-Fuel CASM
(vs. prior year) Up 1 - 2%
System Capacity
(vs. prior year) Up 1 - 2% Down 4%
Domestic Down 6 - 7% Down 13%
International Up 16 - 17% Up 14%
Merger strengthens long-term outlook by creating strong, global competitor
Delta continues to focus on the proposed merger with Northwest Airlines to create a global airline better positioned for strength and profitability over the long term with greater customer preference and a worldwide, geographically balanced network.
"The unique advantages created by the combination of Delta and Northwest are even more compelling as fuel costs continue to rise," Bastian said.
A merger of strength, the airlines will combine best-in-class cost structures, industry-leading balance sheets and complementary networks. With integration planning under way, Delta and Northwest expect to find opportunities to both reduce one-time costs and increase synergies. Delta expects the merger to receive required regulatory approvals by the end of the year.
Delta Air Lines operates service to more worldwide destinations than any airline with Delta and Delta Connection flights to 324 destinations in 62 countries. Delta has added more international capacity than any major U.S. airline during the last two years and is the leader across the Atlantic with flights to 43 trans-Atlantic markets. To Latin America and the Caribbean, Delta offers 600 weekly flights to 62 destinations. Delta's marketing alliances also allow customers to earn and redeem SkyMiles on more than 16,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 474 worldwide destinations in 104 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.
The Delta Air Lines, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1825
Endnotes
1. The attachment to this news release provides a reconciliation of certain non-GAAP financial measures used in this release and provides the reasons management uses those measures.
Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the cost of aircraft fuel; the impact that our indebtedness will have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; the ability of our credit card processors to take significant holdbacks in certain circumstances; the effects of terrorist attacks; and competitive conditions in the airline industry.
Forward-looking statements in the press release that relate to our proposed merger transaction with Northwest Airlines Corporation include, without limitation, our expectations with respect to the synergies, costs and charges and capitalization, anticipated financial impacts of the merger transaction and related transactions; approval of the merger transaction and related transactions by shareholders; the satisfaction of the closing conditions to the merger transaction and related transactions; and the timing of the completion of the merger transaction and related transactions. Factors that may cause the actual results to differ materially from the expected results include, but are not limited to, the possibility that the expected synergies will not be realized, or will not be realized within the expected time period, due to, among other things, (1) the airline pricing environment; (2) competitive actions taken by other airlines; (3) general economic conditions; (4) changes in jet fuel prices; (5) actions taken or conditions imposed by the United States and foreign governments; (6) the willingness of customers to travel; (7) difficulties in integrating the operations of the two airlines; (8) the impact of labor relations, and (9) fluctuations in foreign currency exchange rates. Other factors include the possibility that the merger does not close, including due to the failure to receive required stockholder or regulatory approvals, or the failure of other closing conditions.
Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta's Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2007. Caution should be taken not to place undue reliance on Delta's forward-looking statements, which represent Delta's views only as of June 18, 2008, and which Delta has no current intention to update.
Additional Information about the Merger and Where to Find It
In connection with the proposed merger with Northwest Airlines Corporation, Delta filed with the Securities and Exchange Commission ("SEC") a Registration Statement on Form S-4 that includes a joint proxy statement of Delta and Northwest that also constitutes a prospectus of Delta. Delta and Northwest will mail the joint proxy statement/prospectus to their stockholders when it becomes available. Delta and Northwest urge investors and security holders to read the joint proxy statement/prospectus regarding the proposed merger when it becomes available because it will contain important information. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC's website (www.sec.gov). You may also obtain these documents, free of charge, from Delta's website (www.delta.com) under the tab "About Delta" and then under the heading "Investor Relations" and then under the item "SEC Filings." You may also obtain these documents, free of charge, from Northwest's website (www.nwa.com) under the tab "About Northwest" and then under the heading "Investor Relations" and then under the item "SEC Filings and Section 16 Filings."
Delta, Northwest and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from Delta and Northwest stockholders in favor of the merger. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Delta and Northwest stockholders in connection with the proposed merger will be set forth in the proxy statement/prospectus. You can find information about Delta's executive officers and directors in its Annual Report on Form 10-K (including any amendments thereto) and in its definitive proxy statement filed with the SEC related to Delta's 2008 Annual Meeting of Stockholders. You can find information about Northwest's executive officers and directors in its Annual Report on Form 10-K (including any amendments thereto), Current Reports on Form 8-K and other documents that have previously been filed with the SEC since May 31, 2007 as well as in its definitive proxy statement to be filed with the SEC related to Northwest's 2008 Annual Meeting of Stockholders. You can obtain free copies of these documents from Delta and Northwest using the contact information above.
Non-GAAP Reconciliations
The following tables show reconciliations of certain financial measures. The reasons Delta uses these measures are described below.
* Delta presents length of haul adjusted PRASM excluding charter
revenue because management believes this provides a more
meaningful comparison of the Company's PRASM to the industry;
* Delta excludes restructuring and related items because management
believes the exclusion of these items is helpful to investors to
evaluate the company's recurring operational performance.
* During the March 2008 quarter, Delta recorded a non-cash charge
of $6.1 billion based on its preliminary assessment of goodwill
impairment. As previously reported, Delta will complete this
goodwill impairment analysis during the June 2008 quarter. Delta
expects to record in the June 2008 quarter an additional goodwill
impairment charge, which is not reflected in the guidance
provided, when its analysis is completed.
YTD-April
2008
----------
PRASM 11.51 cents
Length of haul adjustment, including adjustments
for other airline revenue and certain other
revenue (0.02)
----------
Length of haul adjusted PRASM including
adjustments for other airline revenue and certain
other revenue 11.49 cents
==========
Industry average PRASM 11.31 cents
==========
Percentage of industry average 102%
==========
June 2008 Quarter
Current Projection
------------------
GAAP operating margin projection 1 - 2%
Items Excluded:
Restructuring and related items 2%
------------------
Operating margin projection excluding special
items 3 - 4%
Heritage Bank’s Parent Company, CCF Holding Company, Ranked Among Top 100 Community Banks Nationwide
The holding company for Heritage Bank, CCF Holding Company, has been ranked 77th among publicly traded community banks nationwide according to USBanker. The listing, which places Heritage Bank in the top three of all Georgia banks listed in the ranking, was based on three-year average return on equity.
“This is good news at a time where there is not a lot of good news being shared in the financial industry, and each of Heritage Bank’s employees has contributed to this honor,” said Leonard Moreland, Executive Vice President of CCF Holding Company and CEO of Heritage Bank. “We are a community bank that delivers results, and our company’s 54-year heritage is a direct result of our team’s pride in their work and dedication to excellence.”
Heritage Bank, a state chartered commercial bank, has been serving metro Atlanta’s Southern Crescent since 1955. The independent community bank has seven full service offices, features a well-rounded offering of commercial and consumer products, and is an active, involved member of the community it serves. The company’s stock is traded on The NASDAQ Small Cap Market under the symbol “CCFH.” For more information, please call 770-478-8881 or visit the Heritage Bank website at www.heritagebank.com.
-----
www.fayettefrontpage.com
Fayette Front Page
Community News You Can Use
Fayetteville, Peachtree City, Tyrone
Comcast Increases Upstream Speeds for Its High-Speed Internet Customers for No Additional Charge
BUSINESS WIRE--Comcast, South Florida’s leading provider of entertainment, information and communications, announced today that it is increasing upstream speeds locally for its residential high-speed Internet customers at no additional cost to comcast.net customers.
Comcast will nearly triple the upload speed of its 6 Mbps/384 Kbps tier to 6 Mbps/1 Mbps and more than double the upload speed of its 8 Mbps/768 Kbps tier to 8 Mbps/2 Mbps.
“As the Internet evolves, so will our services and offerings,” said Filemon Lopez, Comcast’s Senior Regional Vice President for South Florida. “We’ve been proactive by making a number of complimentary speed increases over the last few years. This time we focused on increasing upstream speeds so our customers can take even better advantage of the ever-expanding amount of interactive applications the Internet has to offer.”
Along with increased upstream speeds, Comcast customers can still enjoy faster download speeds with Comcast’s PowerBoost™ technology, also at no additional cost. With PowerBoost technology, Comcast customers can get up to 12 Mbps downloads on the 6 Mbps tier and up to 16 Mbps downloads on the 8 Mbps tier for files such as videos, games, music and digital photos.
Increasing upstream speeds is one of several speed enhancements Comcast has implemented in 2008. Earlier this year, Comcast announced it would be evolving from broadband to wideband with the deployment of DOCSIS 3.0 (Data Over Cable Service Interface Specifications) technology, which sets a new standard for delivering high-speed Internet service across fiber-optic cable networks. Comcast recently launched its first DOCSIS 3.0 market in the Twin Cities, offering residents and businesses one of the fastest broadband services available in the U.S. today: with up to 50 Mbps download speed and 5 Mbps uploads. Comcast expects to deliver even faster speeds of up to 100 Mbps to its customers over the next two years with the capability of delivering higher speeds of 160 Mbps or more in the future.
Wren Marks 25 Years in Business
BUSINESS WIRE--Twenty-five years ago, Clifford “Tippy” Wren founded Wren while working in the plastics manufacturing industry. As he shares in a new podcast about Wren’s company history, the fast-growing retailer Wal-Mart® asked him to provide an aesthetically pleasing protective cover to go over security cameras mounted into the ceiling. Today, Wren is marking its 25th year in business as a provider of comprehensive video surveillance solutions not only to retailers, but many other industries including government and education.
Still a privately-held, family-owned business with manufacturing operations in Jefferson City, MO and an office in Atlanta, GA, Wren has witnessed vast changes in the security industry. It has grown from a fragmented cottage industry to the booming security industry of today, which is increasingly moving toward IP (network) solutions and integration of physical and IT security technologies. Never one to miss out on opportunities to serve its customers in a dynamic market, Wren adapted right along with the changing security market, evolving its product line to meet the needs of today’s marketplace.
“We are proud to continue to serve our original customer, Wal-Mart, along with many other top-100 retailers,” said Wren President Andrew Wren. “Over 25 years, we have witnessed many changes in how surveillance technology is used across multiple industries; no longer just a security tool, video is seen as an invaluable piece of the information chain to help improve operations, risk reduction, compliance, employee training and much more. As a customer-driven organization, we will continue to innovate new technologies to enable each customer segment to leverage video technology to meet their unique requirements.”
Over the last 25 years, the company has expanded its offerings, today providing turnkey video surveillance solutions including IP and analog camera solutions, video management software, Encapsulon retail software that corroborates video with data from the POS and other systems, as well as installation services and training for customers.
Wren continues to innovate with the introduction of new technologies and services to help businesses make the most of their video surveillance for security and operations. Most recently, the company announced the offering of turnkey services, which allow customers to access complete installation and support services, or to select services to ensure successful deployment when working with multiple parties such as in-house staff, integrators, and other third parties.
For more information about Wren and to hear founder “Tippy” Wren and President Andrew Wren discuss their insights for building a successful company in a podcast, visit www.wrensolutions.com/anniversary. Or visit Wren at Booth #435 at the NRF-Loss Prevention Show, coming up in Orlando, June 23 - 25.
