Below please find daily updates pertaining to the latest in financial, business, and tax news:
SUNY Fredonia tops campaign goal by $2M
Posted: Tue Feb 07 10:28:42 PST 2012The largest fund-raising campaign in SUNY Fredonia?s history is now complete. The Chautauqua County four-year public school has raised more than $16.7 million during its five-year ?Doors to Success? capital campaign. That?s nearly $2 million more than the original target of $15 million. The campaign, which closed Dec. 31, met specific goals: $7.5 million raised for scholarships, $2.5 million ...
Obama nominates new Army acquisition chief
Posted: Tue Feb 07 10:28:41 PST 2012President Barack Obama has nominated former Raytheon Co. executive Heidi Shyu for the position of Army acquisition chief, Defense News reported. She has served as acting assistant secretary of the Army for acquisition, logistics and technology since last June. ...
Schneider Logistics to cut jobs in West Chester
Posted: Tue Feb 07 10:28:00 PST 2012Transportation firm Schneider Logistics Inc. will eliminate 10 jobs in West Chester, according to a filing with the Ohio Department of Job and Family Services. The company will no longer be providing services to a General Motors distribution facility located at 8752 Jacquemin Drive, according to the filing. The jobs, none of which are represented by a union, will be eliminated on March 31. Th...
DOD buyer says F-35 production move was 'acquisition malpractice'
Posted: Tue Feb 07 10:27:51 PST 2012Frank Kendall, who has been nominated to take the chair as undersecretary of Defense for acquisition, technology and logistics, said Monday that "putting the F-35 into production years before the first test flight was acquisition malpractice" ? a confirmation that senior Pentagon leaders know mistakes were made with the program, AOL Defense reported. Kendall said that we're now paying the pric...
Pinnacle Bank earnings up 5%
Posted: Tue Feb 07 10:27:22 PST 2012Pinnacle Bank's fourth-quarter income narrowly rose last year as it issued more loans and set aside less money for potential defaults. The Gilroy-based commercial lender said it earned $97,000 of profit for the three months ending Dec. 31, up 5 percent from the same period a year earlier. Its loan portfolio climbed in value by 9 percent during that period, to $131.8 million as of Dec. 31, whi...
Solar developer plans large project in Lincoln
Posted: Tue Feb 07 10:27:09 PST 2012Strata Solar has filed proposals with state regulators to build two more 5-megawatt solar projects in Duke Energy?s service region, including one in Lincoln County. After completing the 5-megawatt Kings Mountain Solar Farm last month, Strata CEO Markus Wilhelm said the company had financing in place for up to 10 more projects this year, adding 50 to 60 megawatts of solar capacity in the state....
January data foreboding for existing homes market
Posted: Tue Feb 07 10:27:01 PST 2012While recent news for Memphis homebuilders has been encouraging, the local market for existing homes could stand to see a little sunshine, according to recent data from Clear Capital. Memphis ushers in the new year as the fourth-lowest performing major market as measured by REO (real estate-owned) sales saturation and percent changes in quarter-over-quarter and year-over-year valuations. The M...
Apple faces restraining order over iPad name in China
Posted: Tue Feb 07 10:27:00 PST 2012Proview Technology (Schenzhen) has filed a temporary restraining order in prevent Apple Inc. from using the iPad name in mainland China, according to a Wall Street Journal story on Tuesday. A Schenzhen court previously rejected Cupertino-based Apple's (NASDAQ:AAPL) challenge of Proview, which thinks it owns the iPad name in mainland China. Apple is reportedly appealing the decision. Written b...
California?s gay marriage ban ruled unconstitutional
Posted: Tue Feb 07 10:26:57 PST 2012A federal appeals court ruled California?s same-sex marriage ban is unconstitutional, paving the way for a likely U.S. Supreme Court showdown. A three-judge panel on the 9th U.S. Circuit Court of Appeals in San Francisco ruled 2-1 today that a lower court judge interpreted the U.S. Constitution correctly two years ago when he declaring the ban, known as Proposition 8, to be a violation of the ...
California?s gay marriage ban ruled unconstitutional
Posted: Tue Feb 07 10:25:41 PST 2012A federal appeals court ruled California?s same-sex marriage ban is unconstitutional, paving the way for a likely U.S. Supreme Court showdown. A three-judge panel on the 9th U.S. Circuit Court of Appeals in San Francisco ruled 2-1 today that a lower court judge interpreted the U.S. Constitution correctly two years ago when he declaring the ban, known as Proposition 8, to be a violation of the ...