Tuesday, April 16, 2013

Kodak tentatively sells its scanning business to Brother for $210 ...

Kodak Enters into Agreement for Proposed Sale of Document Imaging Business to Brother Industries, Ltd.

Brother to provide stalking horse bid

ROCHESTER, N.Y., April 15 -- Eastman Kodak Company has reached agreement with Brother Industries, Ltd., for the proposed sale of certain assets of its Document Imaging business for a cash purchase price of approximately $210 million, subject to certain price adjustments at closing. In addition, Brother will assume deferred service revenue liability of the business, which totaled approximately $67 million as of December 31, 2012.

Kodak's Document Imaging business provides a comprehensive portfolio of scanners, capture software and services to enterprise customers. Brother is a leading global manufacturer of laser, label and multi-function printers, as well as fax machines and sewing machines.

Consummation of the transaction with Brother is subject to court approval and a marketing period in which Kodak may seek to obtain a higher or better offer for the business, alone or in combination with other businesses, including through a court-approved auction. Kodak's ability to continue to explore alternatives during the marketing period will ensure that Kodak obtains the maximum value for the business. Consummation is also subject to satisfying customary closing conditions, including required regulatory approvals.

"This proposed sale is another key step in Kodak's path to emergence ? it moves us closer to realizing our strategic vision for Kodak's future," said Antonio M. Perez, Chairman and Chief Executive Officer. "A sale to Brother, should they prevail, would represent an excellent outcome for Document Imaging's customers, partners and employees."

Under the terms of the agreement, Kodak will seek U.S. Bankruptcy Court approval of the bidding procedures at a hearing in late April and is targeting final court approval of a transaction in June.

"Document Imaging has many differentiating strengths, including an outstanding global customer base, award-winning software and hardware solutions, strategic reseller partners and a comprehensive service and support network," Perez said.

Dolores Kruchten, President of Document Imaging, said that Kodak will work throughout the sale process to ensure a smooth transition for customers.

"We are pleased that under this agreement with Brother, Document Imaging will continue to strengthen its position as a leader of information capture and management solutions for enterprise customers," said Kruchten. "Our valued customers will receive the highest quality products, world-class customer service and reseller support that have been the hallmarks of our business."

Consistent with its previously stated goal of restructuring around its Commercial Imaging business, Kodak is continuing its publicly announced sales process for its Personalized Imaging (PI) business.

Lazard is serving as the financial advisor to Kodak and Sullivan & Cromwell is the lead legal advisor to Kodak in the transaction.

Source: http://www.engadget.com/2013/04/15/kodak-tentatively-sells-its-scanning-business-to-brother/

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Monday, April 15, 2013

Sam Bucci Memorial Fishing Derby | Cranberry Sports & Recreation ...

Enter your tip here and it will be sent straight to Senior Regional Editor / Midwest Don Wyatt, Timothy McAteer, Jessica Sinichak, Lizabeth Gray, Larissa Dudkiewicz, David Peters, Zandy Dudiak, Katelynn Metz, and Richard Cook, Cranberry Patch's (incredibly grateful) editors.

Source: http://cranberry.patch.com/events/sam-bucci-memorial-fishing-derby-db776bcb

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Two hikers missing in Washington state after avalanche

By Karen Brooks

(Reuters) - Two hikers were missing after at least one avalanche struck the mountains in Washington state on Saturday in an area east of Seattle that is a popular location for winter sports, a King County sheriff's spokeswoman said.

Sergeant Katie Larson said that a 60-year-old man who had been hiking with two companions went missing at around noon local time after an avalanche struck near Snoqualmie Pass in the Cascade Mountains, about an hour east of Seattle.

A second hiker received a non-life-threatening shoulder injury after the incident, she told Reuters.

In an apparent separate incident nearby, another person who had been among a group of 13 people hiking at the Alpental Ski Area was also reported missing, although Larson said the nature of that incident was not immediately clear.

"At some point something happened; we're not sure if it was an avalanche or an accident," Larson said, citing the remote location and communication difficulties with the hikers, who did not speak fluent English.

One hiker from that group suffered hypothermia and was being brought out of the mountains by rescuers, who have a two-and-a-half hour hike to where the group is located, Larson said.

"Obviously right now we're trying to (get) there as quickly as we can we before the weather conditions worsen and before nightfall," she said, adding that more heavy snowfall was expected in the area.

The King County Sheriff's Office had said earlier on social media that three people were missing in two avalanches, but Larson indicated that the number of missing had since been reduced to two.

(Reporting by Karen Brooks; Editing by Cynthia Johnston and Eric Walsh)

Source: http://news.yahoo.com/two-hikers-missing-washington-state-avalanche-001004491.html

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New Summer Dance Intensive at Sugarloaf Performing Arts - Duluth ...

Summer brings a new level of intensity to dance training at Sugarloaf Performing Arts (SPA) with its annual dance intensives. This year SPA has turned up the heat by adding a new two-week June Intensive to their summer schedule.

Focused on strengthening ballet, modern and jazz techniques, this new intensive will be offered June 10th-14th and June 17th-21st. The faculty for this exciting intensive includes Ms. Krysten Hill, Ms. Kara Hill-Protos and Mr. Jaspin Newell.

Students will participate in daily instruction in ballet technique, pointe, classical repertoire, modern and jazz. This intensive offers a split schedule to accommodate dancers of varying skill levels. Intermediate to Advanced students will attend classes 10 a.m. to 3 p.m. Beginner to Intermediate students will participate in a half day curriculum from 2 p.m. to 5 p.m.

The new June Intensive serves as an excellent complement to Sugarloaf Performing Arts? July Premier and Elite Dance Intensives, offering an opportunity for serious dance students to maintain and advance their dance technique throughout the summer. The Premier and Elite Dance Intensives are designed to motivate beginner through preprofessional level dancers who desire an energetic and impassioned curriculum focused on technique and training.

?Our dance intensives offer a rigorous training program in a nurturing environment,? says Artistic Director Lori Zamzow-Wire. ?We provide a supportive atmosphere conducive to stimulating personal growth for dancers.? The intensive curriculum includes Ballet, Pointe, Variations, Partnering, Modern, Contemporary, Jazz and Choreography instruction.

In addition to the summer intensives, other camps offered
by Sugarloaf Performing Arts include: Princess (ages 3-5), All-Star Dance Camp (ages 6-8), Tumble Camp (ages 9 & up), Mini Tumble Camp (ages 6-8) and Camp ?Acting Out? Drama Camp (ages 9 & up). Sugarloaf Performing Arts also offers an open class schedule for dance and tumble during the summer. Join us on Saturday, May 4, between the hours of 10 a.m. and 2 p.m. to register for summer and fall classes.

Students new to Sugarloaf Performing Arts must audition for proper placement. Additional information regarding intensives, camps and classes can be obtained by calling the Sugarloaf Performing Arts office at 770-476-0025.

About Us

Sugarloaf Performing Arts (SPA) is a family-oriented studio dedicated to providing the highest quality training in a positive, safe and encouraging environment. Since 2004, Sugarloaf Performing Arts has been professionally inspiring young artists through excellence in arts education.

Our curriculum includes expert instruction in Ballet, Pointe, Modern, Contemporary, Jazz, Tumble, Tap, Hip Hop and Drama. Sugarloaf Performing Arts also serves as home to Sugarloaf Ballet Company, a nonprofit organization. Sugarloaf Performing Arts is located at 1140 Old Peachtree Road, Suites B& C, Duluth, GA 30097. For more information, please call 770-476-0025.

Source: http://duluth.patch.com/announcements/new-summer-dance-intensive-at-sugarloaf-performing-arts

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Sunday, April 14, 2013

Goldman CEO Blankfein got 75 percent compensation boost in 2012

By Lauren Tara LaCapra

NEW YORK (Reuters) - Goldman Sachs Group Inc's board awarded Chief Executive Lloyd Blankfein a 75 percent increase in compensation, to $21 million, for 2012 - including pay, bonus and restricted stock award.

His pay was unchanged at $2 million, but both his cash bonus and stock award almost doubled to $5.7 million and $13.3 million, respectively.

But a summary compensation table in Goldman's proxy - the standard format for reporting executive pay - tells a different story because Blankfein's stock awards were not granted until January 2013.

That calculation shows Blankfein receiving $13.3 million in compensation last year, an 18 percent drop from 2011. The figure includes stock awards from prior years that were paid out in 2012, as well as $323,514 in benefits and other perks.

Additionally, Goldman's board decided to extend the period of time that top executives have to capitalize on long-term incentive awards from 2011 by five years, from December 2013 to December 2018. Under those long-term plans, executives can get up to 150 percent of such awards if Goldman's average return on equity over the time period reaches at least 15 percent.

In explaining its bonus awards, Goldman's board called Blankfein a "strong leader" who demonstrated commitment to the bank and its clients, and understood nuances of its business strategy.

The Wall Street bank's earnings nearly tripled last year, due in large part to a major cost-cutting effort as trading and dealmaking volumes remained muted. Its shares rose 41 percent in 2012 and are up a further 17 percent this year, based on Thursday's closing price of $149.07.

Compensation for other named executives in Goldman's proxy - Chief Operating Officer Gary Cohn, former Chief Financial Officer David Viniar and Vice Chairmen J. Michael Evans and John Weinberg - showed similar trends: higher pay awarded for their work in 2012 but pay cuts according to technical calculations.

In addition to compensation, Goldman's proxy outlined distributions made to executives from investment funds managed by the Wall Street bank. Blankfein received $29.8 million and other senior executives received anywhere from $125,000 to $28.3 million.

The proxy filing also included a shareholder proposal from a Chicago attorney named Eric Fogel who owns $2,000 worth of stock and argues that Goldman ought to pursue a merger or outright sale to increase shareholder value.

Other shareholder proposals suggest the bank disclose more information about its lobbying activities, create a human rights committee and allow shareholders to nominate new board members. Goldman recommended that shareholders vote against those proposals.

(Reporting by Lauren Tara LaCapra; Editing by Andrew Hay and Lisa Shumaker)

Source: http://news.yahoo.com/goldman-sachs-ceo-blankfein-pay-fell-13-3-162150880--sector.html

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Source: http://mass-mailing.net/professional-seo-companies-still-master-the-online-world/

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Goal of nuclear-free NKorea tests US, China ties

US Secretary of State John Kerry conducts a press conference answering questions from US and Chinese media, Saturday April 13, 2013, in Beijing, China. Kerry arrived in Beijing Saturday to seek Chinese help in persuading North Korea to halt its nuclear and missile testing program. (AP Photo/Paul J. Richards)

US Secretary of State John Kerry conducts a press conference answering questions from US and Chinese media, Saturday April 13, 2013, in Beijing, China. Kerry arrived in Beijing Saturday to seek Chinese help in persuading North Korea to halt its nuclear and missile testing program. (AP Photo/Paul J. Richards)

Chinese President Xi Jinping, right, poses with U.S. Secretary of State John Kerry before their meeting at the Great Hall of the People in Beijing Saturday, April 13, 2013. The question of how Washington can persuade Beijing to exert real pressure on North Korean leader Kim Jong Un's unpredictable regime is front and center as Kerry meets Saturday with Chinese leaders in Beijing. (AP Photo/Yohsuke Mizuno, Pool)

U.S. Secretary of State John Kerry, left, meets with Chinese State Councilor Yang Jiechi in the Diaoyutai State Guesthouse Saturday, April 13, 2013 in Beijing. The question of how Washington can persuade Beijing to exert real pressure on North Korean leader Kim Jong Un's unpredictable regime is front and center as Kerry meets Saturday with Chinese leaders in Beijing. (AP Photo/Paul J. Richards, Pool)

(AP) ? Bound by threats from North Korea, the U.S. and China agreed Saturday to rid the bellicose nation of nuclear weapons in a test of whether the world powers can shelve years of rivalry and discord, and unite in fostering global stability.

Beyond this latest attempt to restrain North Korea, the burgeoning nuclear crisis has so frustrated the U.S. and China that they are forming a new and tentative bond with the potential to carry over into areas that have vexed them for decades.

But they will need to overcome the longstanding prickly relations between Beijing's communist government and Washington's free-market democracy. The two are economic competitors, and China is far more reluctant than the U.S. to intervene in international military conflicts.

U.S. Secretary of State John Kerry on Saturday described a "synergy" between the two countries to achieve worldwide security and economic stability.

"We have a stake in China's success. And frankly, China has a stake in the success of the United States," Kerry told reporters in the Chinese capital. "And that became clear in all of our conversations here today. A constructive partnership that is based on mutual interest benefits everybody in the world."

Kerry met with the new Chinese leaders to discuss a range of issues, most notably the persistent and increasingly pitched threats that North Korea has issued against the U.S., South Korea and Japan the over the past several months.

North Korea appears to be readying a missile test, in what the U.S. says would be its third since December, and there are varying opinions in Washington as to whether the North is able to develop and launch nuclear-tipped missiles.

One U.S. intelligence assessment suggested North Korea had the capacity to put a nuclear warhead on a missile, even if any such weapon would have low reliability.

Kerry and the Chinese foreign policy chief, State Councilor Yang Jiechi, said the two nations would work together to create a nuclear-free Korean peninsula, effectively forcing North Korea to give up its arsenal.

The reclusive North Korean government and its young leader, Kim Jong Un, are more likely to listen to China, its main economic and diplomatic partner and lifeline to the outside world, than anyone else.

Yang, through an interpreter, described China's stance on North Korea as "clear cut" and called for resuming the six-nation talks that fell apart four years ago and are aimed at ending the nuclear threat.

"China is firmly committed to upholding peace and stability and advancing the denuclearization process on the Korean peninsula," Yang told reporters. "We maintain that the issue should be handled and resolved peacefully through dialogue. ... To properly address the Korean nuclear issue serves the interests of all parties."

But Kerry made clear that the U.S. would keep close watch on how China continues to deal with North Korea to "make sure this is not rhetoric but that this is real policy."

North Korea was but one issue that was high on the priority list of discussions, Kerry said.

China and the U.S. have the two most powerful economies and are two of the largest energy users. They agreed to hold high-level talks on climate change and to ease business investment cooperation.

Kerry also raised the possibility of scaling back America's military presence in the Asia-Pacific region once the Korean nuclear crisis is resolved. Beijing has been disgruntled about U.S. missile defense systems in China's backyard.

"Obviously, if the threat disappears," meaning a nuclear-free North Korea, "the same imperative does not exist at that point in time for us to have that kind of robust, forward-leaning posture of defense," Kerry said. "And it is our hope in the short run that we can address that."

Western experts predict that China will move slowly and cautiously, if at all, toward becoming a more reliable U.S. ally. China remains deeply skeptical of President Barack Obama's policy shift to Asia, which Beijing views as U.S. attempts to contain its economic might.

It's also unlikely that China will sever its long ties with North Korea. The Chinese dramatically have boosted trade with their neighbors and maintain close military relations some six decades after they fought side by side in the Korean War. They provide North Korea with most of its fuel and much of its food aid.

China has a history of quickly reversing course after talking tougher with North Korea. In late 2010, as American officials were praising Beijing for constructive efforts after the North shelled a South Korean island, a Chinese company agreed to invest $2 billion in a North Korean industrial zone.

"The U.S. has to be cautious in expecting a major breakthrough on North Korea out of the new Chinese leadership," said Christopher Johnson, a former CIA analyst who is now a China expert at the Center for Strategic and International Studies in Washington. "There's a risk of too much exuberance on the U.S. side. ... The Chinese just can't turn the battleship as quickly as we might like."

But Johnson said even minor progress on North Korea could translate into a warming between Washington and Beijing, which appears now to be "at least willing to talk."

"If we can talk on an issue that is as sensitive as North Korea, we can talk about other issues," Johnson said. "It speaks very well for other touchy issues in the relationship at the moment."

___

Jakes reported from Washington.

___

Follow Bradley Klapper on Twitter at https://twitter.com/bklapperAP and Lara Jakes at https://twitter.com/larajakesAP

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-04-13-US-China-North%20Korea/id-50c24082027a43b8bab30ef109445ff2

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