PetSugar

Wal-Mart Recalls "Hip Charm" Key Chains Due to Risk of Lead Exposure

tdsollog — Fri, 20 Jun 2008 09:40:00 -0700

NEWS from CPSC
U.S. Consumer Product Safety Commission
Office of Information and Public Affairs Washington, DC 20207

FOR IMMEDIATE RELEASE
June 19, 2008
Release #08-307

Firm's Recall Hotline: (800) 925-6278
CPSC Recall Hotline: (800) 638-2772
CPSC Media Contact: (301) 504-7908

Wal-Mart Recalls Additional Charm Key Chains Due to Risk of Lead Exposure

WASHINGTON, D.C. - The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed.

Name of Product: "Hip Charm" Key Chains

Units: About 39,000 (firm previously recalled 12,000 key chains in April 2008)

Distributor: Wal-Mart Stores Inc., of Bentonville, Ark.

Importer: FGX International Inc., of Smithfield, R.I.

Hazard: The charms on the key chain can contain high levels of lead, which is toxic if ingested and can cause adverse health effects.

Incidents/Injuries: There have been no injuries reported with the additional key chains included in this recall. The Illinois Attorney General informed Wal-Mart and CPSC in April that the previously recalled key chain was found in the home of a 9-month-old child who was discovered to have high blood levels of lead. The child was observed mouthing this key chain.

Description: The recalled key chains have several charms including a button, clover, leaf, and heart. The charms hang from a silver-colored chain. The words "Hip charm" and the following UPC numbers are printed on the products packaging: 03156811032, 03156811029, 03156811019, 03156811016, 03156811018, 03156811028, and 03156811030.

Sold at: Wal-Mart stores nationwide from April 2005 through June 2008 for between $ .50 and $6.

Manufactured in: China

Remedy: Consumers should not allow children to handle the key chain and return it to any Wal-Mart store for a full refund.

Consumer Contact: For further information, contact Wal-Mart at (800) 925-6278 between 7 a.m. and 9 p.m. CT Monday through Friday, or visit the firm's Web site at www.walmartstores.com

To see this recall on CPSC's web site, including pictures of the recalled product, please go to: http://www.cpsc.gov/cpscpub/prerel/prhtml08/08307.html

Great Valentine Gifts for Under $50 - from Red Envelope: Heart Locket Key Chain

Brown_Sugar — Sun, 14 Jan 2007 18:00:57 -0800

Red Envelop Heart Locket Key Chain

With the Holiday and New Years seasons over, it's time to concentrate on what is, in my opinion, the BEST holiday of the year: Valentine's Day!

Red Envelope is a site with unique and beautiful gifts, with pricing that suits a wide array of budgets.

Visit this items webpage!

Daily Hello Kitty

Johanna88 — Mon, 28 May 2007 14:05:34 -0700

Everyday I'm going to try and post a picture of my Hello Kitty collection. This obsession has been a part of my life ever since I was born. I got a Hello Kitty stuffed animal when I was born from my uncle (damn him!) And then it just grew on from there. my parents and family thouht it was cute and when I got older I just couldn't bring myself to throw/give it all away.

So here it goes:

Makes a squeeky noice.. Annoying actually

Another Hello kitty keychain. And this one is baking! Love it. It's upside down though..

Many Reluctant to Hire Because of New Taxes, Rules

StolzeMama — Wed, 13 Jan 2010 11:24:12 -0800

Many Reluctant to Hire Because of New Taxes, Rules

A potential wave of new regulation and higher taxes may be scaring many businesses from hiring, prolonging any rebound in employment, say business groups and economists.

The prospect of increased federal and state regulation and taxes has been particularly disruptive to the hiring plans of small- and medium-sized businesses, which have historically generated about two-thirds of the nation's jobs.

"I don't really see the private sector hiring much in the next few months," says Brian Bethune, an economist at Global Insight. "For the small-business sector there is just too much uncertainty about what happens beyond 2010."

Not only is the Obama administration seeking to push through major overhauls of energy and health care policy, it is also expected to impose dozens of new workplace rules and raise income taxes.

As Washington and Wall Street grow increasingly restless about the unusually slow pace of job creation and the risk of a so-called jobless recovery, key business groups have begun to bang the drum more loudly.

In reporting that its small business optimism index fell for the second straight month in December, the National Federation of Independent Business Tuesday said members' No. 2 reason for not expanding payrolls was the prospect of government policy initiatives.

Twelve percent said it was not a good time to expand because of the political environment. Over the next three months, 15 percent said they plan to reduce employment, while eight percent plan to create new jobs.

"We're hearing it more and more from our membership," says Bill Rys, the NFIB's tax counsel. "At the federal level, there's uncertainty about tax rates, health care costs, energy costs. You also have what's going on at the state and local levels, with new fees and taxes. They're reluctant to jump back in."

Rys says the effect has been more pronounced in the past few months, perhaps mirroring the legislative progress of the massive health care reform bill, the highly-publicized Copenhagen climate change conference and new EPA rules on carbon emissions, as well as the approach of 2010, when the near decade-long Bush administration tax cuts are expected to expire.

The NFIB has some 350,000 members with an average size of eight to ten employees.

Much like the severity of the recession, the degree of potential government change is a historic first for many business owners.

"When they went into business this isn't something they considered," says Rys.

The American Chamber of Commerce's latest economist forecast cited similar impediments.

"To create jobs we must ease the uncertainty over tax increases as well as health, environmental, labor, legal and fiscal policies," the group's president and CEO Thomas J. Donohue said in a speech Tuesday.

Chamber members are predominantly small companies with ten or less employees.

In a recent interview with CNBC.com, the group's chief economist, Martin Regalia, described a paralyzing uncertainty over policy issues, saying that many members "had adopted an attitude of survival" and "few talked about net new hiring."

If so, that will not go unnoticed. Small businesses were hemorrhaging jobs in the first quarter of 2009 when the recession was cutting deep into the economy.

According to the Bureau of Labor Statistics, companies with 1-4 employees lost 140,000 jobs in that period; firms with 10-19 employees shed 220,000 jobs. (That's the most recent period covered by the data.)

Some of those jobs as well as new ones would normally be created in the coming year.

Coming out of the previous two recessions, companies in the two groups were responsible for net job gains relatively soon after the downturn had ended and picked up momentum as the recovery was established.

In the third quarter of 1993, the 1-4-employee group created about 120,000 jobs, while the 14-20-person group added 60,000. That may not seem like a lot, but the workforce was much smaller then.

Near the peak of the last economic recovery, the two groups were combining for more than 140,000 jobs a quarter.

Though data for the past three quarters isn't available, people who follow small- and medium- sized business say anecdotal evidence from owners is compelling

"A lot of small, medium sized businesses are waiting to see what health care is going to mean, in terms of cost," says John Challenger, of the outplacement firm Challenger, Grey and Christmas, "I think they're also waiting and seeing on the estate tax. The other one I hear the most about is the union issue-the worry that there could be much higher labor costs, that might curtail hiring."

Amid the massive uncertainty, there are levels of certainty.

It's unclear, for instance, what health care will cost small businesses, which tend not to provide it to employees. There's talk of some kind of exemption, but it's not clear yet.

The cost for those providing insurance will go up-at least in the short term; fees for health insurers, medical devices and branded drugs, for instance, start to kick in 2011 and work their way into the broader cost chain.

On another front, the Obama administration has said it intends to introduce some 90 new workplace rules this year.

Two thousand and ten may also bring the approval of cap-and-trade legislation, which given the complex scientific and economic models involved, will create another long list of question marks.

Changes in tax law are almost a certainty, even if the specifics are still unclear. The estate tax, which-as part of the Bush tax cut plan-is zero in 2011, is expected to be raised in future years and that change may even be made retroactive.

Income taxes for the two highest tax brackets are expected to rise; the Obama administration at various times has said taxes will be increased on people earning 200,000 or $250,000.

"When people talk about who's making above $200,000, it tends to pull in a lot of small business people," says Mark Calabria of the Cato Institute, a former senior staffer on the Senate Banking Committee.

Budget-strapped states have already raised taxes or intend to do so.

Unlike the complex tax structure of global corporations, there are few or any loopholes.

"If you are talking about the entrepreneurial class, they run a small business, have a handful of employees and they just report that as regular income," adds Bethune.

Less income, more expenses-it's hardly a prescription for expansion, says experts.

Small- and medium-sized business owners are still recovering from the real estate collapse and the credit crunch; it is not uncommon for them to use real estate as collateral or credit lines to make payroll.

On top of that, like big business, they're still waiting for a return in demand

"It may mean you take less investment chances," says Challenger. In that context, jobs are looking might chancy."

http://finance.yahoo.com/news/Many-Reluctant-to-Hire-cnbc-2045064418.htm...

G-Technology High Performance 1TB External Drive

spacekatgal — Thu, 17 Dec 2009 22:27:15 -0800

If you’ve got a Macbook, then you’re probably in the market for an external drive. The reality of Time Machine backups and high definition iTunes content means most users will need storage beyond their original drives, especially if they have a Macbook.

There are a plethora of options to choose from, but this GeekGal wanted the best. Price was less important to me than reliability, looks, and most importantly a Firewire 800 interface. She settled of the gorgeous G-Technology High Performance 1 TB for $200. Was this drive just a pretty face, or was the performance there to justify the cost?

The Good

Geekgal confession time - she bought this drive primarily for it’s looks. The G-Technology line of drives are gorgeous brushed aluminum, a very fitting companion for the Apple line of unibody MacBooks. It’s just a beautiful drive that emanates quality. There is no other drive on the market that comes as close to capturing the Apple level of aesthetics.

The drive has every interface a Mac user could ask for - USB 2.0, SATA, and two FireWire 800 ports for daisy-chaining multiple drives. The size is much larger and heavier than I expected from the pictures, but not unreasonably so. It’s not a drive that’s especially suited for a laptop bag, but one that’s a gorgeous compliment on your desk at home.

The G-Tech is fast. It’s faster than the internal drive of my 17-inch Macbook Pro. Copying files, making Time Machine backups, and using it as a Photoshop CS4 scratch disk all yielded excellent results. In an informal poll of some of my geeky Mac friends, we all ran X-Bench benchmarks on our external drives to see how fast they were. The G-tech finished second best overall, being beaten by a statistically insignificant .02 percent. It was twice as fast as the fastest USB 2.0 drive.

The Bad

The G-Technology High Performance line of drives require you to plug in an external power adaptor to use their drives, unlike their “mini” line. This is the biggest detriment to the drive. It limits your on-the-go use to struggle to find an outlet to use with your adaptor. Geekgal suspects that many users will opt to leave their G-tech at home.

The other minor quibble with this drive? It’s a little loud. When it wakes up, you will hear it - there’s a loud click. It might bother some users, but the GeekGal understands that a performance hard disk is sometimes a little noisy.

The Technobabble

ProTip! Are you using your G-tech like I am, as a reservoir for a large library of iTunes content? Here’s an easy way to juggle two iTunes libraries. I have my main one for movies and every song I’ve ever bought on the G-Drive. I have a second, smaller one on my local hard disk. Hold down the option key as you boot up iTunes, and you can switch your libraries.

Conclusion

The G-Technology High Performance 1TB drive is a fine storage compliment for any Mac user. It’s the best-looking drive made, the performance is excellent, and the price is very reasonable. The GeekGal highly recommends this drive.

How the World's Biggest Corporations, From Starbucks to Wal-Mart to Barnes & Noble, Claim to Be 'Local'

Roarman — Tue, 08 Sep 2009 07:29:31 -0700

HSBC, one of the biggest banks on the planet, has taken to calling itself "the world's local bank." Starbucks is un-branding at least three of its Seattle outlets, the first of which just reopened as "15th Avenue Coffee and Tea." Winn-Dixie, a 500-outlet supermarket chain, recently launched a new ad campaign under the tagline, "Local flavor since 1956." The International Council of Shopping Centers, a global consortium of mall owners and developers, is pouring millions of dollars into television ads urging people to "Shop Local" -- at their nearest mall. Even Wal-Mart is getting in on the act, hanging bright green banners over its produce aisles that simply say, "Local."

Hoping to capitalize on growing public enthusiasm for all things local, some of the world's biggest corporations are brashly laying claim to the word "local."

This new variation on corporate greenwashing -- local washing -- is, like the buy-local movement itself, most advanced in the context of food. Hellmann's, the mayonnaise brand owned by the processed-food giant Unilever, is test-driving a new "Eat Real, Eat Local," initiative in Canada. The ad campaign seems aimed partly at enhancing the brand by simply associating Hellmann's with local food. But it also makes the a claim that Hellmann's is local, because most of its ingredients come from North America.

It's not the only industrial food company muscling in on local. Frito-Lay's new television commercials use farmers as pitchmen to position the company's potato chips as local food, while Foster Farms, one of the largest producers of poultry products in the country, is labeling packages of chicken and turkey "locally grown."

Corporate local-washing is now spreading well beyond food. Barnes & Noble, the world's top seller of books, has launched a video blog site under the banner, "All bookselling is local." The site, which features "local book news" and recommendations from employees of stores in such evocative-sounding locales as Surprise, Arizona, and Wauwatosa, Wisconsin, seems designed to disguise what Barnes & Noble is -- a highly centralized corporation where decisions about what books to stock and feature are made by a handful of buyers -- and to present the chain instead a collection of independent-minded booksellers.

Across the country, scores of shopping malls, chambers of commerce, and economic development agencies are also appropriating the phrase "buy local" to urge consumers to patronize nearby malls and big-box stores. In March, leaders of a new Buy Local campaign in Fresno, California, assembled in front of the Fashion Fair Mall for a kick-off press conference. Flanked by storefronts bearing brand names like Anthropologie and The Cheesecake Factory, officials from the Economic Development Corporation of Fresno County explained that choosing to "buy local" helps the region's economy. For anyone confused by this display, the campaign and its media partners, including Comcast and the McClatchy-owned Fresno Bee, followed the press conference with more than $250,000 worth of radio, TV, and print ads that spelled it out: "Just so you know, buying local means any store in your community: mom-and-pop stores, national chains, big-box stores -- you name it."

The Real Buy Local Movement

In one way, all of this corporate local-washing is good news for local economy advocates: It represents the best empirical evidence yet that the grassroots movement for locally produced goods and independently owned businesses now sweeping the country is having a measurable impact on the choices people make.

"Think of the millions of dollars these big companies spend on research and focus groups. They wouldn't be doing this on a hunch," observed Dan Cullen of the American Booksellers Association (ABA), a trade group which represents some 1,700 independent bookstores and last year launched IndieBound, an initiative that helps locally owned businesses communicate their independence and community roots.

Signs that consumer preferences are trending local abound. Locally grown food has soared in popularity. The U.S. is now home to 4,385 active farmers markets, one out of every three of which was started since 2000. Food co-ops and neighborhood greengrocers are on the rise. Driving is down, while data from several metropolitan regions show that houses located within walking distance of small neighborhood stores have held value better than those isolated in the suburbs where the nearest gallon of milk is a five-mile drive to Target.

A growing number of independent businesses are trumpeting their local ownership and community roots, and reporting a surge in customer traffic as a result. In April, even as Virgin Megastores prepared to shutter is last U.S. record store, independent music stores across the country were mobbed for the second annual Record Store Day. A celebration of local music retailers that features in-store concerts and exclusive releases, the event drew hundreds of thousands of music fans into stores, was one of the top search terms on Google, and triggered a 16-point upswing in album sales, according to Neilson SoundScan.

In city after city, independent businesses are organizing and creating the beginnings of what could become a powerful counterweight to the big business lobbies that have long dominated public policy. Local business alliances -- like Stay Local in New Orleans, the Metro Independent Business Alliance in Minneapolis-St Paul, and Arizona Local First in Phoenix -- have now formed in over 130 cities and collectively count some 30,000 businesses as members. Through grassroots "buy local" and "local first" campaigns, these alliances are calling on people to choose independent businesses and local products more often and making the case that doing so is critical to rebuilding middle-class prosperity, averting environmental collapse, and ensuring that our daily lives are not smothered by corporate uniformity.

Surveys and anecdotal reports from business owners suggest that these initiatives are in fact changing spending patterns. A survey of 1,100 independent retailers conducted in January by the Institute for Local Self-Reliance (where I work) found that, amid the worst economic downturn since the Depression, buy-local sentiment is giving local businesses an edge over their chain competitors. While the Commerce Department reported that overall retail sales plunged almost 10 percent over the holidays, the survey found that independent retailers in cities with buy-local campaigns saw sales drop an average of just 3 percent from the previous year. Many respondents attributed this relative good fortune to the fact that more people are deliberately seeking out locally owned businesses.

Corporations Take Note

None of this has slipped the notice of corporate executives and the consumer research firms that advise them. Several of these firms have begun to track the localization trend. In its annual consumer survey, the New York-based branding firm BBMG found that the number of people reporting that it was "very important" to them whether a product was grown or produced locally jumped from 26 to 32 percent in the last year alone. "It's not just a small cadre of consumers anymore," said founding partner Mitch Baranowski.

"Food is one of the biggest gateways, but we're seeing this idea of 'local' spread across other categories and sectors," said Michelle Barry, senior vice president of the Hartman Group. A report published by Hartman last year noted, "There is a belief that you can only be local if you are a small and authentic brand. This isn't necessarily true; big brands can use the notion of local to their advantage as well." Barry explains: "Big companies have to be much more creative in how they articulate local … It's a different way of thinking about local that is not quite as literal."

One way corporations can be "local" too is to stock a token amount of locally grown produce, as Wal-Mart has done in some of its supercenters. The chain's local food offerings are usually limited to a few of the main commodity crops of that particular state -- peaches in Georgia or potatoes in Maine -- and sit amid a sea of industrial food and other goods shipped from the far side of the planet. Yet, this modest gesture has won Wal-Mart glowing coverage in numerous daily newspapers, few of which have asked the salient question: does Wal-Mart, which now captures more than one of every five dollars Americans spend on groceries, create more and better opportunities for local farmers than the grocers it replaces?

Wal-Mart, like other chains, has learned that, with consumers increasingly motivated to support companies they perceive to be acting responsibility, tossing around the word "local" is a far less expensive way to convey civic virtue than the alternatives. "Local is one of the lower-hanging fruits in terms of sustainability," explains Barry. "It's easier for companies to do than to improve how their employees are treated or adopt a specific sustainability practice around their carbon footprint, for example."

Rather than making direct claims using the word "local," some companies are pushing marketing messages that work by association. One example that caught Dan Cullen's eye was a CVS television commercial that begins in a Main Street bookshop, following the owner around as she tends to her customers. The bookshop then transforms into a CVS. The bookshop owner is now the customer. The feel is still very much Main Street. "Suddenly the kind of unique, enjoyable, grassroots bookstore experience morphs into a CVS experience," said Cullen. "There's a Potemkin façade that a lot of chains are trying to put up because consumers now want something other than a cookie-cutter experience."

Redefining Local

Still another corporate strategy is to redefine the term "local" to mean, not locally owned or locally produced, but just nearby. "With the term 'local' being so nebulous, it seems ripe for manipulation," notes Mintel, another consumer research firm that counsels companies on how to "craft marketing messages that appeal to locally conscious consumers" and how to avoid "charges of 'local washing.'" The key, Mintel says, is for companies to decide what they mean by local and to disclose that clearly so as not to be accused of trying to misappropriate the term.

Corporate-oriented buy-local campaigns that define "local" as the nearest Lowe's or Gap store are now being rolled out in cities nationwide. Some represent desperate bids by shopping malls to survive the recession and fend off online competition. Others are the work of chambers of commerce trying to remain relevant. Still others are the half-baked plans of municipal officials casting about for some way to stop the steep drop in sales tax revenue.

Many of these AstroTurf campaigns are modeled directly on grassroots initiatives. "They copy our language and tactics," said Michelle Long, executive director of Sustainable Connections, a seven-year-old coalition of 600 independent businesses in northwest Washington state that runs a very visible, and according to market research, very successful "local first" program. "I get calls from chambers and other groups who say, We want to do what you are doing. It took me a while to realize that what they had in mind was not what we do. Once I realized, I started asking them, what do you mean by 'local'?"

Examples abound. In northern California, the Arcata Chamber of Commerce is producing "Shop Local" ads that look similar to the Humboldt County Independent Business Alliance's "Go Local" ads, except they feature both independents and chains. Spokane's Buy Local program, started by the local chamber, is open to any business in town, including big-box stores. Log-on to the Buy Local web site created by the chamber in Chapel Hill, NC, and you will find Wal-Mart among the listings.

When billboards proclaiming "Buy Local Orlando" first appeared in Orlando, Florida, Julie Norris, a café owner who last year co-founded Ourlando, an initiative to support indie businesses, was excited to see the concept getting such visibility. But she soon realized that the city-funded program, which provides businesses who join with a "Buy Local" decal, seminars at the Disney Entrepreneur Center, and a listing on the web site, was open to any business in Orlando. "We sat down with the city and said, What you guys are doing is a real disservice to the local business movement," she said. When Norris complained publicly, city officials accused Ourlando of being "exclusive" by not allowing chains.

The city did agree to remove from its press materials and web site a reference to a study that found that, for every $100 spent locally, $45 stays in the community. The problem was that the study, conducted by the firm Civic Economics, found that to be true only if the money was spent at a locally owned business. Shop at a chain store, the analysis found, and only $13 of that $100 spent stays in the community.

The Economic Development Corporation (EDC) of Fresno County also appropriated the $45-stays-local statistic when it kicked off its Buy Local campaign at the Fashion Fair Mall. The figure was repeated on a TV news story without any clarification that it did not apply to the types of chains visible in the background. Like the Orlando initiative, the Fresno campaign aims to boost sales tax revenue by deterring online and out-of-town shopping. It goes out of its way in every radio and TV spot to make sure people know that "local" means national chains and big-box stores. "Buy Local" stickers and posters are now visible on malls and chains throughout the Central Valley. "For someone to say you are not local if you are a big box, I say baloney. They invested here," explained Steve Geil, CEO of the EDC.

"I would prefer that the county's resources were not being spent promoting Wal-Mart and Home Depot," said Scott Miller, owner of Gazebo Gardens, a plant nursery founded in 1922. "We have a great history of being involved in community events and donating to local causes. Our plants are grown locally. We believe that our kind of business is more valuable to a community than any big chain."

When the city of Santa Fe decided to launch a campaign to encourage people to shop locally, the Santa Fe Alliance, a coalition of more than 500 locally owned businesses that has been running a buy-local initiative for several years, signed on. At the kick-off in March, the Alliance's director, Vicki Pozzebon, emphasized the economic impact of shopping at a locally owned business versus a chain. "After that, the city asked me not to push the $45 vs. $13, but just say 'local.'" said Pozzebon. The city's message, according to Kate Noble, a city staffer who runs the program, is that shopping at Wal-Mart is fine, as long as it's not walmart.com. Pozzebon said, "It has only diluted our message and confused people."

These sales tax driven campaigns may well be doing more harm to local economies than good, according to Jeff Milchen, co-founder of the American Independent Business Alliance, a national organization that helps communities start and grow local business alliances (and on whose board I serve). "If you encourage people to shop at a big-box store that takes sales away from an independent business, you're just funneling more dollars out of town, because, unlike chains, local businesses buy lots of goods and services, like accounting and printing, from other local businesses."

The irony of trying to solve declining city revenue by trying to get people to shop at the local mall is that the mall itself may be the problem. While many California cities are facing budget cuts and even bankruptcy, Berkeley has managed to post a small increase in revenue. Part of the reason, according to city officials, is that Berkeley has more or less said no to shopping malls and big chain stores and is instead a city of locally owned businesses that primarily serve local residents. That creates a much more stable revenue base. Berkeley hasn't benefited from the temporary boom that a new regional mall might create, but neither has it gone bust.

Will Big Local Triumph?

Can corporations succeed in co-opting "local" -- or at least so muddling the term that it no longer has meaning? The Hartman Group's Barry thinks that's possible. "For many consumers, these things are not being called into question much. They say, Hey, it's my local Wal-Mart or my local Frito-Lay truck. It depends where you are on the continuum and how you define local, which is a term that is really up for grabs."

Milchen is less concerned about what he calls faux-local campaigns in cities where there is already a strong local business organization. "It's more of an educational opportunity than a problem, so long as they respond to it," he said. But in places where local enterprises are not organized, he fears these corporate campaigns may succeed in permanently defining "local" for their own benefit. Michelle Long shares that concern: "That's my fear. People are going to do diluted versions and hold the space so that real campaigns don't get started."

Local-washing has prompted local business advocates to reconsider their language. Many are now using the word "independent" more than "local." Controlling language is critical, said Ronnie Cummins, director of the Organic Consumers Association, who is pushing for tighter regulation of the word organic, as well as rules governing terms like natural, sustainable, and local. "We've been fighting so long without the help of federal regulators that some people have forgotten that tool."

But perhaps local-washing will ultimately make corporations even more suspect and further the case for shifting our economy more in the direction of small-scale, local, and independent. "I think the fact that the chains are trying to play the local card, in a way makes it easier for us," said the ABA's Cullen. "I think people are going to recognize that these aren't authentic and that's going to make the real thing all the more powerful."

Source: http://www.alternet.org/environment/142379/how_the_world%27s_biggest_cor...

Did Rep. Bill Owens really win?

cine_lover — Thu, 12 Nov 2009 09:34:44 -0800

http://www.syracuse.com/news/index.ssf/2009/11/its_not_over_recanvassing_shows_ny23_race.html

Recanvassing shows NY-23 race tightens even as Rep. Bill Owens is sworn into House seat

By Mark Weiner / The Post-Standard

November 12, 2009, 6:02AM

The Associated PressDemocrat Bill Owens delivers his victory speech at his headquarters in Plattsburgh last week. Owens declared victory after Conservative nominee Doug Hoffman conceded the 23rd Congressional District race election night. Now recanvassing shows the special election has narrowed to a 3,000-vote difference, and will be decided by a count of absentee ballots.» Updated county-by-county NY-23 vote totals (PDF)Washington -- Conservative Doug Hoffman conceded the race in the 23rd Congressional District last week after receiving two pieces of grim news for his campaign: He was down 5,335 votes with 93 percent of the vote counted on election night, and he had barely won his stronghold in Oswego County.
As it turns out, neither was true.
But Hoffman’s concession -- based on snafus in Oswego County and elsewhere that left his vote undercounted -- set off a chain of events that echoed all the way to Washington, D.C., and helped secure passage of a historic health care reform bill.
Democratic Rep. Bill Owens was quickly sworn into office on Friday, a day before the rare weekend vote in the House of Representatives. His support sealed his party’s narrow victory on the health care legislation.
Now a recanvassing in the 11-county district shows that Owens’ lead has narrowed to 3,026 votes over Hoffman, 66,698 to 63,672, according to the latest unofficial results from the state Board of Elections.
In Oswego County, where Hoffman was reported to lead by only 500 votes with 93 percent of the vote counted election night, inspectors found Hoffman actually won by 1,748 votes -- 12,748 to 11,000.
The new vote totals mean the race will be decided by absentee ballots, of which about 10,200 were distributed, said John Conklin, communications director for the state Board of Elections.
Under a new law in New York that extended deadlines, military and overseas ballots received by this coming Monday (and postmarked by Nov. 2) will be counted. Standard absentee ballots had to be returned this past Monday.
Conklin said the state sent a letter to the House Clerk last week explaining that no winner had been determined in the 23rd District, and therefore the state had not certified the election. But the letter noted that Owens still led by about 3,000 votes, and that the special election was not contested -- two factors that legally allowed House Speaker Nancy Pelosi to swear in Owens on Friday.
"We sent a letter to the clerk laying out the totals," Conklin said. "The key is that Hoffman conceded, which means the race is not contested. However, all ballots will be counted, and if the result changes, Owens will have to be removed."
Before Owens was sworn in Friday, Rep. John Garamendi, a Democrat who won a special election in California, was sworn in Thursday. The two gave Pelosi the votes she needed to reach a majority of 218 and pass the historic health care reform legislation in the House.
The bill passed 220-215 late Saturday with the support of only one Republican. The Republican, Rep. Anh "Joseph" Cao of Louisiana, said he voted for the legislation only after seeing that Democrats had the 218 votes needed for passage.
Now Hoffman, who campaigned against the health care reform bill, is carefully watching as the 23rd District race tightens and he is left to wonder if he conceded too soon.
"I don’t know if we would have conceded on election night," Rob Ryan, Hoffman’s campaign spokesman, said Wednesday while discussing the latest results of the recanvassing. "I’m someone who doesn’t like to look back. But would we have taken longer to make a decision on election night? Probably, if we knew it was only 3,000 votes making the difference."
Ryan, while acknowledging that Hoffman’s chances of pulling off a come-from-behind victory are still remote, said the campaign is looking at its legal options.
"We’re basically watching and waiting," Ryan said. "We’ve been looking very closely at the recanvass. We’re going to see how this week shapes up, and then we’re going to determine what to do."
Ryan said an important factor in the decision to concede was the unexpected -- and erroneous -- close vote in Oswego County, where polls had Hoffman with a double digit percentage point lead heading into Election Day.
"That’s the thing that threw us off," Ryan said.
Oswego County elections officials blame the mistakes on "chaos" in their call-in center that included a phone system foul-up and inspectors who read numbers incorrectly when phoning in results. Of 245 races in the county -- not including the congressional and court races -- 84 had incorrect totals reported election night.
In the congressional race, more votes were cast in Oswego County than any other in the 11-county district.
The district’s second biggest voter turnout was in Jefferson County, where Hoffman also has benefited from a turnaround since election night, gaining about 700 votes. Owens led Hoffman by 300 votes on the final election night tally. But after recanvassing, Hoffman now leads by 424 votes, 10,884 to 10,460.
Jerry Eaton, the Republican elections commissioner for Jefferson County, said inspectors found a problem in four districts where Hoffman’s vote total was mistakenly entered as zero.
"Hoffman definitely gained votes where he didn’t have them," Eaton said.
Jefferson County, home of Fort Drum and the Army's 10th Mountain Division, distributed 2,299 absentee ballots for the special election. As of this week, 1,303 had been returned but not counted, Eaton said. He said the county will begin counting the absentee ballots earyl next week.
Conklin, of the state Board of Elections, said officials did not have updated absentee ballot totals from the other counties.
When asked about the tightening race, Owens spokesman Jon Boughtin released a statement without directly addressing the election. "Since being elected, Congressman Owens has remained focused on the issues at hand: working with local leaders to address the Champlain Bridge closure, meeting with commanders at Fort Drum and continuing the work to strengthen Upstate New York," the statement said.
Ryan said the absentee ballots are likely to favor Hoffman because most were likely mailed before Republican Dede Scozzafava suspended her campaignthree days before the election.
"For Doug to win, we needed a three-way race," Ryan said, adding that the campaign’s internal polls showed Hoffman would win with all three candidates.
"Given the majority of these ballots are from a three-way race, we think the ballots are going to break Doug’s way," Ryan said.
Ryan declined to say what percentage of the absentee vote the campaign believes Hoffman would need to win the race. Nevertheless, Hoffman’s campaign is optimistic.
"When people look back at this race, it was a remote possibility that Doug Hoffman would be a contender," Ryan said. "But miracles do happen.
Washington correspondent Mark Weiner can be reached atmweiner@syracuse.com or 571-970-3751.

Sun sets on Saturn

kastarte2 — Thu, 01 Oct 2009 08:13:14 -0700

Sun sets on Saturn: GM kills fading star brand

GM To Shut Down Saturn Brand As Talks With Penske Fall Through

By TOM KRISHER and KIMBERLY S. JOHNSON

DETROIT - For those who expected General Motors' once-funky Saturn brand to live on with a new owner, there has been a sad twist. Saturn, once billed as a different kind of car company, appears as dead as Pontiac and Oldsmobile.

At the brand's 350 remaining dealers around the country, there were high hopes that a deal would be announced for GM to sell the brand to former race car driver and auto industry magnate Roger Penske.

Instead, Penske Automotive Group Inc. announced Wednesday it is walking away from the deal, unable to find a manufacturer to make Saturn cars when GM stops producing models sometime after the end of 2011. GM then announced it would stop making Saturns and soon would close down the brand, just like it did with Oldsmobile in 2004 and soon will do with Pontiac.

The day's events mean an almost certain end to Saturn, a brand that was set up in 1990 to fight growing Japanese imports. Instead of celebrating a rebirth, the announcements sent dealers scrambling for ways to stay open and preserve about 13,000 jobs.

"I find this hard to believe," said Carl Galeana, owner of two Saturn dealerships in suburban Detroit. "Everyone's been saying we're right at the goal line."

Although GM and Penske reached a tentative agreement to sell the brand in June, the deal collapsed Wednesday after Penske was told by an unidentified manufacturer that its board had rejected a deal to make cars for the new Saturn.

"It was a stunning turn of events," said GM spokesman Tom Pyden, who added that most of the details between GM and Penske had been worked out and both sides expected to announce this week that the deal had been closed.

GM had agreed to keep building three Saturn models even beyond 2011, but after that, Penske had to come up with its own products made by another manufacturer.

Penske spokesman Anthony Pordon said there is little if any chance that the talks could be reopened. Without another supplier in place before the deal was signed, Penske couldn't run the risk of taking on Saturn, Pordon said.

It takes several years to design new vehicles or engineer foreign vehicles to meet U.S. standards. Penske would risk having no products to sell once the GM contract expired.

The French automaker Renault discussed building cars for Penske but Renault spokeswoman Frederique Le Greves said in an e-mail Thursday that "the conditions for an agreement have not been found." She said the decision was made by the Renault executive board.

Penske's purchase price was never disclosed, and he will not have to pay a termination fee, Pyden said. Penske shares tumbled $1.13, or 5.9 percent, to $18.05 in premarket trading Thursday.

GM will stop making Saturns as soon as possible, but no layoffs are expected, said spokeswoman Sherrie Childers Arb. Saturns are made at plants in Kansas City, Kan.; Delta Township, Mich., near Lansing and Ramos Arizpe, Mexico.

"Those plants produce products for other brands, and we think we can increase volume on those products that will meet market demand," Childers Arb said.

Saturn owners can still go to their dealers for service. They will also be able to go to a certified GM dealer once Saturn dealerships close, GM said.

Stephen Spivey, senior auto analyst for Frost and Sullivan, said he was surprised Penske had no alternative plan for a manufacturer.

"There are lots of car companies in the world. I'm surprised they had all their eggs in one basket," he said, adding that other companies may still be interested in the dealership network.

Penske, who could not be reached for comment, said in a June interview that foreign automakers would be key to making Saturn succeed, but they would have to match GM's quality standards before Saturn's dealer network would distribute their products.

Bloomfield Hills-based Penske Automotive owns the second-largest U.S. automobile dealer chain. The company also distributes Daimler AG's Smart subcompacts in the U.S. and has race teams in the IndyCar, NASCAR and Grand-Am series.

Galeana said he's heard nothing yet from GM or Saturn, but if the plan is to phase out the brand and cut the products, he'll have to come up with other options.

"I assumed if you're at the goal line, those things would have been figured out," he said Wednesday. "We're going to try to put some plan Bs in place at this point."

Galeana said he's concerned for his employees and still hopes the deal can be resurrected.

"It's tough out there, but we'll keep fighting. That's all we can do."

GM Chairman Roger Smith first unveiled the Saturn brand in November 1983. But the project was slow to develop and the brand did not officially launch until 1990. It featured the iconic tag-line "a different kind of car company" and people were attracted by its low-key showrooms and no-haggle pricing.

GM's hope was that Saturn, with its dent-free plastic panels, would attract younger buyers with smaller, hipper cars. It built a new plant in Spring Hill, Tenn., devoted to Saturn vehicles.

Despite a cult-like following that drew thousands to annual reunions in Spring Hill, the brand never made money, although the company has never disclosed how much it invested or lost. The Tennessee factory stopped making Saturns in 2007. Although it was retooled to make Chevrolet crossovers, it's now scheduled to close. A parts plant in Spring Hill will stay open in the short term, but its future was unclear.

As GM focused more on high-profit pickup trucks and SUVs, Saturn began to languish in the late 1990s. Then in 2006, car buyers began to find Saturn's new models more appealing. But after a good year in 2007, sales dropped last year as the U.S. car market withered. Through August, Saturn sales were down 60 percent from the first eight months of last year.

GM has been trying to sell Saturn since earlier this year as part of its turnaround plan.

http://www.google.com/hostednews/ap/article/ALeqM5hzJ6l3NJeV0Fmp6mjz25GN...

A Crackdown on Bake Sales in City Schools

liliblu — Sun, 04 Oct 2009 11:58:20 -0700

By JENNIFER MEDINA
Published: October 2, 2009

There shall be no cupcakes. No chocolate cake and no carrot cake. According to New York City’s latest regulations, not even zucchini bread makes the cut.
In an effort to limit how much sugar and fat students put in their bellies at school, the Education Department has effectively banned most bake sales, the lucrative if not quite healthy fund-raising tool for generations of teams and clubs.
The change is part of a new wellness policy that also limits what can be sold in vending machines and student-run stores, which use profits to help finance activities like pep rallies and proms. The elaborate rules were outlined in a three-page memo issued at the end of June, but in the new school year, principals and parents are just beginning to, well, digest them.
Parent groups and Parent-Teacher Associations are conspicuously given an exception: once a month they are allowed to sell as many dark fudge brownies and lemon bars as they please, so long as lunch has ended. And after 6 p.m. on weekdays, anything goes. But at that hour, most students are long gone, and as far as the Education Department is concerned, stuffing oneself with coconut macaroons and peanut butter cookies at that hour is one’s prerogative.
Mayor Michael R. Bloomberg has made both public health and public education centerpieces of his tenure, and the changes in the schools’ food are an outgrowth of his efforts to curb trans fats, salt and other unwanted additives.
Roughly 40 percent of the city’s elementary and middle school students are overweight or obese, according to the Education Department. The department also found a correlation between student health and performance on standardized tests, according to a survey it released in July.
The previous regulations limited sales to once a month and allowed them at any time during that day, but they were loosely enforced. Officials say they will do more to monitor the new regulations.
“We have an undeniable problem in the city, state and the country with obesity,” said Eric Goldstein, the chief of the office of school support services. “During the school day, we have to focus on what is healthy for the mind and the body.”
Unsurprisingly, the rationale is getting a cool reception among students. At Fiorello H. La Guardia High School on the Upper West Side, students are used to having bake sales several times a month. Now, Yardain Amron, a sophomore basketball player, laments that his team will not be able to raise money for a new scoreboard.
Another La Guardia student, Eli Salamon-Abrams, 14, said that when the soccer team held a bake sale in May, his blueberry muffins sold out in 15 minutes. He said of the ban: “I think it’s kind of pointless. I mean, why can’t we have bake sales?”
The new policy also requires that vending machines, which generate millions of dollars for school sports, be supplied with snacks such as reduced-fat Baked Doritos and low-sugar granola bars. A new vending machine contract is expected to be approved on Wednesday by the Panel for Educational Policy, the school oversight board. Student stores will be able to sell only approved snacks bought from the new vendor, rather than obtain the food themselves, as they once did.
Principals are expected to enforce the new rules. “Noncompliance may result in adverse impact on the principal’s compliance performance rating,” the policy states.
With the changes, school administrators and teachers who oversee student clubs are laboring to come up with other easy ways to raise money, particularly at a time when school budgets are being cut.
John Sommers, the assistant principal of organization at La Guardia, said that all fund-raisers using food were on hold for now.
He said teachers had encouraged students for years to be careful with what they sold. “There was never any cotton candy or something like that, and there weren’t sales all the time,” he said. “But they are definitely a way kids count on to get money.”
A typical weekday sale, he said, could bring in about $500 in profit. “If they wanted to buy some uniforms or go on a trip, that was enough,” he added.
Mr. Sommers said he was trying to figure out other ways for students to raise money, perhaps by selling T-shirts or key chains. (All of which are decidedly more expensive to produce than a box of brownies.)
Department officials are suggesting that teams use walk-a-thons and similar activities as a way of raising money and doing something active.
For all the changes, there is much the regulations do not address. For instance, there are no stipulations of what kind of treats students may bring to class, so birthday cupcakes appear to be safe. Snack bars of any kind are permitted at after-school sporting events, a prime time for cheese-laden nachos and fatty hot dogs.
Schools around the United States, including throughout California, have banned bake sales or put a limit on the sugar and fat content of the goodies. But New York’s regulations are among the strictest in the country, said Howard Wechsler, the director of the division of adolescent and school health at the Centers for Disease Control and Prevention.
“There are more schools that are making more changes in what is available for kids at school,” said Dr. Wechsler, who has studied nutrition policies at schools nationwide. “Schools are supposed to be a place where we establish a model environment, and the last thing kids need is an extra source of pointless calories.”

Joel Stonington contributed reporting.
http://www.nytimes.com/2009/10/03/nyregion/03bakesale.html?scp=1&sq=bake%20sales&st=cse

15 Companies That Might Not Survive 2009

ccpdm — Mon, 09 Feb 2009 05:42:43 -0800

Who's next?

With consumers shutting their wallets and corporate revenues plunging, the business landscape may start to resemble a graveyard in 2009. Household names like Circuit City and Linens 'n Things have already perished. And chances are, those bankruptcies were just an early warning sign of a much broader epidemic.

Moody's Investors Service, for instance, predicts that the default rate on corporate bonds - which foretells bankruptcies - will be three times higher in 2009 than in 2008, and 15 times higher than in 2007. That could equate to 25 significant bankruptcies per month.

We examined ratings from Moody's and data from other sources to develop a short list of potential victims that ought to be familiar to most consumers. Many of these firms are in industries directly hit by the slowdown in consumer spending, such as retail, automotive, housing and entertainment.

But there are other common threads. Most of these firms have limited cash for a rainy day, and a lot of debt, with large interest payments due over the next year. In ordinary times, it might not be so hard to refinance loans, or get new ones, to help keep the cash flowing. But in an acute credit crunch it's a different story, and at companies where sales are down and going lower, skittish lenders may refuse to grant any more credit. It's a terrible time to be cash-poor.

[That's why Moody's assigns most of these firms its lowest rating for short-term liquidity. And all the firms on this list have long-term debt that Moody's rates Caa or lower, which means the borrower is considered at least a "very high" credit risk.

Once a company defaults on its debt, or fails to make a payment, the next step is usually a Chapter 11 bankruptcy filing. Some firms continue to operate while in Chapter 11, retaining many of their employees. Those firms often shed debt, restructure, and emerge from bankruptcy as healthier companies.

But it takes fresh financing to do that, and with money scarce, more bankrupt firms than usual are likely to liquidate - like Circuit City. That's why corporate failures are likely to be a major drag on the economy in 2009: In a liquidation, the entire workforce often gets axed, with little or no severance. That will only add to unemployment, which could hit 9 or even 10 percent by the end of the year.

[It's possible that none of the firms on this list will liquidate, or even declare Chapter 11. Some may come up with unexpected revenue or creative financing that helps avert bankruptcy, while others could be purchased in whole or in part by creditors or other investors. But one way or another, the following 15 firms will probably look a lot different a year from now than they do today:

Rite Aid. (Ticker symbol: RAD; about 100,000 employees; 1-year stock-price decline: 92%). This drugstore chain tried to boost its performance by acquiring competitors Brooks and Eckerd in 2007. But there have been some nasty side effects, like a huge debt load that makes it the most leveraged drugstore chain in the U.S., according to Zacks Equity Research. That big retail investment came just as megadiscounter Wal-Mart was starting to sell prescription drugs, and consumers were starting to cut bank on spending. Management has twice lowered its outlook for 2009. Prognosis: Mounting losses, with no turnaround in sight.

Claire's Stores. (Privately owned; about 18,000 employees.) Leon Black's once-renowned private-equity firm, the Apollo Group, paid $3.1 billion for this trendy teen-focused accessory store in 2007, when buyout funds were bulging. But cash flow has been negative for much of the past year and analysts believe Claire's is close to defaulting on its debt. A horrible retail outlook for 2009 offers no relief, suggesting Claire's could follow Linens 'n Things - another Apollo purchase - and declare Chapter 11, possibly shuttering all of its 3,000-plus stores.

Chrysler. (Privately owned; about 55,000 employees). It's never a good sign when management insists the company is not going out of business, which is what CEO Bob Nardelli has been doing lately. Of the three Detroit automakers, Chrysler is the most endangered, with a product portfolio that's overreliant on gas-guzzling trucks and SUVs and almost totally devoid of compelling small cars. A recent deal with Fiat seems dubious, since the Italian automaker doesn't have to pony up any money, and Chrysler desperately needs cash. The company is quickly burning through $4 billion in government bailout money, and with car sales down 40 percent from recent peaks, Chrysler may be the weakling that can't cut it in tough times.

Dollar Thrifty Automotive Group. (DTG; about 7,000 employees; stock down 95%). This car-rental company is a small player compared to Enterprise, Hertz, and Avis Budget. It's also more reliant on leisure travelers, and therefore more susceptible to a downturn as consumers cut spending. Dollar Thrifty is also closely tied to Chrysler, which supplies 80 percent of its fleet. Moody's predicts that if Chrysler declares Chapter 11, Dollar Thrifty would suffer deeply as well.

Realogy Corp. (Privately owned; about 13,000 employees). It's the biggest real-estate brokerage firm in the country, but that's a bad thing when there are double-digit declines in both sales and prices, as there were in 2009. Realogy, which includes the Coldwell Banker, ERA, and Sotheby's franchises, also carries a high debt load, dating to its purchase by the Apollo Group in 2007 - the very moment when the housing market was starting to invert from a soaring ride into a sickening nosedive. Realogy has been trying to refinance much of its debt, prompting lawsuits. One deal was denied by a judge in December, reducing the firm's already tight wiggle room.

[Station Casinos. (Privately owned, about 14,000 employees). Las Vegas has already been creamed by a biblical real-estate bust, and now it may face the loss of its home-grown gambling joints, too. Station - which runs 15 casinos off the strip that cater to locals - recently failed to make a key interest payment, which is often one of the last steps before a Chapter 11 filing. For once, the house seems likely to lose.

Loehmann's Capital Corp. (Privately owned; about 1,500 employees). This clothing chain has the right formula for lean times, offering women's clothing at discount prices. But the consumer pullback is hitting just about every retailer, and Loehmann's has a lot less cash to ride out a drought than competitors like Nordstrom Rack and TJ Maxx. If Loehmann's doesn't get additional financing in 2009 - a dicey proposition, given skyrocketing unemployment and plunging spending - the chain could run out of cash.

Sbarro. (Privately owned; about 5,500 employees). It's not the pizza that's the problem. Many of this chain's 1,100 storefronts are in malls, which is a double whammy: Traffic is down, since consumers have put away their wallets. Sbarro can't really boost revenue by adding a breakfast or late-night menu, like other chains have done. And competitors like Domino's and Pizza Hut have less debt and stronger cash flow, which could intensify pressure on Sbarro as key debt payments come due in 2009.

Six Flags. (SIX; about 30,000 employees; stock down 84%). This theme-park operator has been losing money for several years, and selling off properties to try to pay down debt and get back into the black. But the ride may end prematurely. Moody's expects cash flow to be negative in 2009, and if consumers aren't spending during the peak summer season, that could imperil the company's ability to pay debts coming due later this year and in 2010.

Blockbuster. (BBI; about 60,000 employees; stock down 57%). The video-rental chain has burned cash while trying to figure out how to maximize fees without alienating customers. Its operating income has started to improve just as consumers are cutting back, even on movies. Video stores in general are under pressure as they compete with cable and Internet operators offering the same titles. A key test of Blockbuster's viability will come when two credit lines expire in August. One possible outcome, according to Valueline, is that investors take the company private and then go public again when market conditions are better.

Krispy Kreme. (KKD; about 4,000 employees; stock down 50%). The donuts might be good, but Krispy Kreme overestimated Americans' appetite - and that's saying something. This chain overexpanded during the donut heyday of the 1990s - taking on a lot of debt - and now requires high volumes to meet expenses and interest payments. The company has cut costs and closed underperforming stores, but still hasn't earned an operating profit in three years. And now that consumers are cutting back on everything, such improvements may fail to offset top-line declines, leading Krispy Kreme to seek some kind of relief from lenders over the next year.

Landry's Restaurants. (LNY; about 17,000 employees; stock down 66%). This restaurant chain, which operates Chart House, Rainforest Café, and other eateries, needs $400 million in new financing to finalize a buyout deal dating to last June. If lenders come through, the company should have enough cash to ride out the recession. But at least two banks have already balked, leading to downgrades of the company's debt and the prospect of a cash-flow crunch.

Sirius Satellite Radio. (SIRI - parent company; about 1,000 employees; stock down 96%). The music rocks, but satellite radio has yet to be profitable, and huge contracts for performers like Howard Stern are looking unsustainable. Sirius is one of two satellite-radio services owned by parent company Sirius XM, which was formed when Sirius and XM merged last year. So far, the merger hasn't generated the savings needed to make the company profitable, and Moody's thinks there's a "high likelihood" that Sirius will fail to repay or refinance its debt in 2009. One outcome could be a takeover, at distressed prices, by other firms active in the satellite business.

Trump Entertainment Resorts Holdings. (TRMP; about 9,500 employees; stock down 94%). The casino company made famous by The Donald has received several extensions on interest payments, while it tries to sell at least one of its Atlantic City properties and pay down a stack of debt. But with casino buyers scarce, competition circling, and gamblers nursing their losses from the recession, Trump Entertainment may face long odds of skirting bankruptcy.

BearingPoint. (BGPT; about 16,000 employees; stock down 21%). This Virginia-based consulting firm, spun out of KPMG in 2001, is struggling to solve its own operating problems. The firm has consistently lost money, revenue has been falling, and management stopped issuing earnings guidance in 2008. Stable government contracts generate about 30 percent of the firm's business, but the firm may sell other divisions to help pay off debt. With a key interest payment due in April, management needs to hustle - or devise its own exit strategy.