TSN | Wild trade Khudobin to Boston Bruins organization Houston Chronicle The Minnesota Wild made just one trade prior to the league's deadline Monday, but it cost the Aeros their No. 1 goalie. Anton Khudobin was sent to the Boston Bruins organization in exchange for defenseman Jeff Penner and forward ... Explaining Wild's minor-league deal; some thoughts on lack of Wild moves Minnesota Wild trade goalie Anton Khudobin for two minor leaguers Bruins acquire Khudobin from Wild for Penner, Lehtonen rights |
Monday, February 28, 2011
Wild trade Khudobin to Boston Bruins organization - Houston Chronicle
framptongeqeaqu1461.blogspot.com
Saturday, February 26, 2011
Orlando 7-Eleven converts to franchise - Orlando Business Journal:
reason-splitting.blogspot.com
The 3,000-square-foot convenience store at 3911 McCohy Road nearConway Road, which also has a gasoline station, will now be owne d by franchisee Ermal Metollari, a former store manager for five Dallas-based 7-Eleven Inc. announced plans in 2007 to converyt 100 existing locations in the state to franchised Store managers were invited to applty for those franchises before the offefwent public. More than 40 7-Eleven storews in the Orlando market are now with about another 140 owned by the Between eight to10 7-Eleven stores throughout the state are being converte d into franchise operations each montjh and plans to have most of the conversionw nationwide completed by according to a news release.
The company franchises or licensesabout 7,800 stores in North America and more than 36,1090 stores in 15 countries. The company reportedr 2008 sales of morethan $53.7 billion.
The 3,000-square-foot convenience store at 3911 McCohy Road nearConway Road, which also has a gasoline station, will now be owne d by franchisee Ermal Metollari, a former store manager for five Dallas-based 7-Eleven Inc. announced plans in 2007 to converyt 100 existing locations in the state to franchised Store managers were invited to applty for those franchises before the offefwent public. More than 40 7-Eleven storews in the Orlando market are now with about another 140 owned by the Between eight to10 7-Eleven stores throughout the state are being converte d into franchise operations each montjh and plans to have most of the conversionw nationwide completed by according to a news release.
The company franchises or licensesabout 7,800 stores in North America and more than 36,1090 stores in 15 countries. The company reportedr 2008 sales of morethan $53.7 billion.
Wednesday, February 23, 2011
Tech companies turn to Hollywood to push products - Financial Post
http://dissidents.com/magreviews.htm
Tech companies turn to Hollywood to push products Financial Post For technology companies facing increasingly fierce competition for consumers in the smartphone and tablet markets, technology manufacturers are turning to Hollywood for a chance to showcase their latest gadgets in front of rapt audiences. ... |
Monday, February 21, 2011
Fifth Third completes share exchange - Dayton Business Journal:
steel roof tiles
Each of the depositary sharesw representsa 1/250th interest in a share of 8.50 percent noncumulative perpetual convertible preferred stock, series G, the bank It said almost 7 million shares were tendered, value at about $696.2 million. Cincinnati-based Fifth Thirdd (NASDAQ: FITB) is the largest bank in the Daytonm areawith $4.06 billion in local deposits. As a result of the transaction, Fifth Third will issue about 60 milliojn shares of common stock and payabout $230 million in The settlement is expected to take place on June 22.
The bank said the along with its $1 billionh stock offering that was completedJune 4, satisf the government’s request to raise its Tier 1 commob equity by $1.1 billion. Fifth Third, althoughn deemed adequately capitalized, was one of the banks requiredf to raise more capital as a cushiom against aworsening economy, after undergoingf the Treasury’s “stress test” this spring. The bank also said it expectz to raiseanother $1.2 billion in Tier 1 equit y from the sale of a majority stake in Fifth Thired Processing Solutions to Advent International. That’as expected to close in the second quarter.
“Oud actions have significantly enhanced our Tier 1 common equituy ratio and othercapitalo ratios, and when combined with the other actions we’vs discussed to generate Tier 1 common will result in very strong capital levele relative to our peers,” said Kevin Kabat, chairman, president and CEO, in a news
Each of the depositary sharesw representsa 1/250th interest in a share of 8.50 percent noncumulative perpetual convertible preferred stock, series G, the bank It said almost 7 million shares were tendered, value at about $696.2 million. Cincinnati-based Fifth Thirdd (NASDAQ: FITB) is the largest bank in the Daytonm areawith $4.06 billion in local deposits. As a result of the transaction, Fifth Third will issue about 60 milliojn shares of common stock and payabout $230 million in The settlement is expected to take place on June 22.
The bank said the along with its $1 billionh stock offering that was completedJune 4, satisf the government’s request to raise its Tier 1 commob equity by $1.1 billion. Fifth Third, althoughn deemed adequately capitalized, was one of the banks requiredf to raise more capital as a cushiom against aworsening economy, after undergoingf the Treasury’s “stress test” this spring. The bank also said it expectz to raiseanother $1.2 billion in Tier 1 equit y from the sale of a majority stake in Fifth Thired Processing Solutions to Advent International. That’as expected to close in the second quarter.
“Oud actions have significantly enhanced our Tier 1 common equituy ratio and othercapitalo ratios, and when combined with the other actions we’vs discussed to generate Tier 1 common will result in very strong capital levele relative to our peers,” said Kevin Kabat, chairman, president and CEO, in a news
Friday, February 18, 2011
Frontier Airlines adding 4th Denver-Milwaukee daily flight - Denver Business Journal:
concrete roofs
said Friday that it will add a fourt hdaily non-stop flight between Denver and Milwaukee during this year’s peak summerd season. The announcement comes nine days aftefr said it would begin flyinginto Milwaukee’s Generalo Mitchell International Airport later this The new Frontier flight will leave Denver at 6:03 a.m. and arrivwe in Milwaukee at 9:18 a.m. every day betwee n July 1 and Aug. 15 except for Tuesdays and Sundays, the Denver airline reported in a news Another flight will leave Milwaukeeat 9:58 arriving in Denver at 11:30 a.m.
the second-largest carrier at , added the flight because of interest in traveling between the two cities and becauses Midwest travelers use Denver asa jumping-offt point for summer vacationd elsewhere. “We are seeing tremendous demaned from the Milwaukee area this Frontier Vice President of Planning Tom Bacoh said in thenews release. Frontier spokesmanj Steve Snyder said that the additionh of the summertime flight was not a responssto Southwest’s earlier Dallas-based Southwest, which is the third-largest carrier at DIA, said it will starrt flying into Milwaukee sometimde after it begins flights to New York LaGuardiq and Boston Logan later this It has not said yet whether there will be a direcf connection between Denver and Milwaukee.
said Friday that it will add a fourt hdaily non-stop flight between Denver and Milwaukee during this year’s peak summerd season. The announcement comes nine days aftefr said it would begin flyinginto Milwaukee’s Generalo Mitchell International Airport later this The new Frontier flight will leave Denver at 6:03 a.m. and arrivwe in Milwaukee at 9:18 a.m. every day betwee n July 1 and Aug. 15 except for Tuesdays and Sundays, the Denver airline reported in a news Another flight will leave Milwaukeeat 9:58 arriving in Denver at 11:30 a.m.
the second-largest carrier at , added the flight because of interest in traveling between the two cities and becauses Midwest travelers use Denver asa jumping-offt point for summer vacationd elsewhere. “We are seeing tremendous demaned from the Milwaukee area this Frontier Vice President of Planning Tom Bacoh said in thenews release. Frontier spokesmanj Steve Snyder said that the additionh of the summertime flight was not a responssto Southwest’s earlier Dallas-based Southwest, which is the third-largest carrier at DIA, said it will starrt flying into Milwaukee sometimde after it begins flights to New York LaGuardiq and Boston Logan later this It has not said yet whether there will be a direcf connection between Denver and Milwaukee.
Wednesday, February 16, 2011
DoD Talks Up Plans to Deploy Cybercommandos - TechNewsWorld
coras-newport.blogspot.com
CBS News | DoD Talks Up Plans to Deploy Cybercommandos TechNewsWorld Cyber 3.0 is the name of the new strategy described by US Deputy Defense Secretary William Lynn at the RSA security conference Tuesday. It's a five-part plan that will involve equipping military networks with active defenses, ... DoD: Military must be capable within 'cyber' domain Defense Dept. proposes armoring civilian networks 100 foreign agencies test US networks: Official |
Sunday, February 13, 2011
A sluggish economy may be the perfect time to build in-house legal staff - San Francisco Business Times:
http://icscontrolplus.com/articles/headache.php
The talent pool has grown 40 percent to 50 percent year-over-year, said Julie Brush, co-founding consultantf at LLC. In that kind of environment, companies with theid own budget constraints can renegotiatse fees with outsidecounsel — or find new firmse and lawyers to do the same business for less. Mary Beth Sinclair, a branch director at Robert Half a legalstaffing consultancy, said companiez have begun bringing more work in-house and are quicklh discovering that, for some having on-board specialists can be a money-saving alternative to outsidd counsel.
She said Robert Half is seeing a big increasw in companieshiring in-house intellectual property attorneys with paten prosecution and licensing expertise. “That’s mainlty because there are more of those folks availablee over the last three to four Sinclair said. “We’ve been talking to some outstanding peoplwe recently coming out of some of the big firmsz who were making quiter a bit of money and find themselvesw unemployed for the first time intheir careers.” Compensation for in-hous counsel, even at the senior level, is much less than outsidee counsel rates.
Brush said companies could realizee a savings of up to 200 percenyt by bringing onan in-housew attorney at a salary of “Let’s say you have a lot of licensingv and commercial contracts transactions. If you calculatw sending all that work tooutside counsel, even to a juniofr associate who’s billing out at between $300 and $350 an hour do the math. It’s an enormous savings,” Brush said. But don’t expecft that window of opportunity to remainopen forever. “That pool driess up as the economy starts to warnedRoss Veltman, a principal at corporatew counsel staffing consultancy and executivre director of the .
Said simply — don’g wait, according to Most companies look to buil their internal legal departments in the boom timew when the business operations need increasedlegal support, better response from outside counselp and faster turnaround time. But that’ exactly when attorneys at law firmws andexperienced in-house counsel are in highest demand. In the midst of a robust it’s not uncommon for companies, particularly the smaller ones, to be disappointeds by the lack of services fromoutside counsel. When business is good, law firm partneras tend to bestretched thin, leaving matterss with more junior-level attorneys.
“It would be nice if a compan y could take advantage right now because therse is a supply of veryexperienced people, not just at the firmz but people who are experienced in-house Veltman said. “Without a doubt, if a companhy feels that they’re going to be a survivor, this is a very good time for Not everyone is pumpinh uptheir in-house counsel. There are companies that are cutting staff or are not in a position to expanc their legal departments because offinanciao limitations. “Certainly we’re seeinh a lot of shifting by corporate counsel lookinhat cost-saving options,” Sinclair said.
Nonetheless, it’sa a buyers’ market thesde days with regard to outsidelegal services. Recruiters estimate small to midsize firmes billing outabout $325 to $525 an hour for theie top partners. Larger law firms are asking between $550 to $1,000 in some locales. As a result, the currentt economic trough could be a boon for midsizelaw firms, specialthy boutiques and solo practitioners. “It’s a greatf time to build relationshipswith in-housew counsel if you’re a smaller, regionaol firm,” Sinclair said. Erika Rottenberg, ’es general counsel, exemplifies the trend.
The talent pool has grown 40 percent to 50 percent year-over-year, said Julie Brush, co-founding consultantf at LLC. In that kind of environment, companies with theid own budget constraints can renegotiatse fees with outsidecounsel — or find new firmse and lawyers to do the same business for less. Mary Beth Sinclair, a branch director at Robert Half a legalstaffing consultancy, said companiez have begun bringing more work in-house and are quicklh discovering that, for some having on-board specialists can be a money-saving alternative to outsidd counsel.
She said Robert Half is seeing a big increasw in companieshiring in-house intellectual property attorneys with paten prosecution and licensing expertise. “That’s mainlty because there are more of those folks availablee over the last three to four Sinclair said. “We’ve been talking to some outstanding peoplwe recently coming out of some of the big firmsz who were making quiter a bit of money and find themselvesw unemployed for the first time intheir careers.” Compensation for in-hous counsel, even at the senior level, is much less than outsidee counsel rates.
Brush said companies could realizee a savings of up to 200 percenyt by bringing onan in-housew attorney at a salary of “Let’s say you have a lot of licensingv and commercial contracts transactions. If you calculatw sending all that work tooutside counsel, even to a juniofr associate who’s billing out at between $300 and $350 an hour do the math. It’s an enormous savings,” Brush said. But don’t expecft that window of opportunity to remainopen forever. “That pool driess up as the economy starts to warnedRoss Veltman, a principal at corporatew counsel staffing consultancy and executivre director of the .
Said simply — don’g wait, according to Most companies look to buil their internal legal departments in the boom timew when the business operations need increasedlegal support, better response from outside counselp and faster turnaround time. But that’ exactly when attorneys at law firmws andexperienced in-house counsel are in highest demand. In the midst of a robust it’s not uncommon for companies, particularly the smaller ones, to be disappointeds by the lack of services fromoutside counsel. When business is good, law firm partneras tend to bestretched thin, leaving matterss with more junior-level attorneys.
“It would be nice if a compan y could take advantage right now because therse is a supply of veryexperienced people, not just at the firmz but people who are experienced in-house Veltman said. “Without a doubt, if a companhy feels that they’re going to be a survivor, this is a very good time for Not everyone is pumpinh uptheir in-house counsel. There are companies that are cutting staff or are not in a position to expanc their legal departments because offinanciao limitations. “Certainly we’re seeinh a lot of shifting by corporate counsel lookinhat cost-saving options,” Sinclair said.
Nonetheless, it’sa a buyers’ market thesde days with regard to outsidelegal services. Recruiters estimate small to midsize firmes billing outabout $325 to $525 an hour for theie top partners. Larger law firms are asking between $550 to $1,000 in some locales. As a result, the currentt economic trough could be a boon for midsizelaw firms, specialthy boutiques and solo practitioners. “It’s a greatf time to build relationshipswith in-housew counsel if you’re a smaller, regionaol firm,” Sinclair said. Erika Rottenberg, ’es general counsel, exemplifies the trend.
Friday, February 11, 2011
California court rules for BofA - Business First of Louisville:
http://moodymethodist.org/sermons/galatians6110.htm
The class-action case centered on BofA’s collecting check overdraftg and other fees by takinf moneyfrom direct-deposit accounts set up to receivs Social Security benefits. In a jury found BofA’w actions violated California banking laws that prohibit banks from taking Social Security benefits to recove rcustomer debts. But in 2006, the 1st Districy Court of Appeal in San Francisco ruledBofA didn’t breach state banking laws. The appeals coury said the lawsuit misapplied a 1974 Californis Supreme Court decision that prohibits banks from usingv public funds deposited into an account to pay thebank customer’w separate credit-card account.
Monday’s unanimous ruling uphelr that decision. Charlotte-based BofA told the news agencty it was pleased with the which it saidrejected “a challenge to account-balancint practices followed by every bank in California and acrossx the nation.”
The class-action case centered on BofA’s collecting check overdraftg and other fees by takinf moneyfrom direct-deposit accounts set up to receivs Social Security benefits. In a jury found BofA’w actions violated California banking laws that prohibit banks from taking Social Security benefits to recove rcustomer debts. But in 2006, the 1st Districy Court of Appeal in San Francisco ruledBofA didn’t breach state banking laws. The appeals coury said the lawsuit misapplied a 1974 Californis Supreme Court decision that prohibits banks from usingv public funds deposited into an account to pay thebank customer’w separate credit-card account.
Monday’s unanimous ruling uphelr that decision. Charlotte-based BofA told the news agencty it was pleased with the which it saidrejected “a challenge to account-balancint practices followed by every bank in California and acrossx the nation.”
Tuesday, February 8, 2011
Hawker announces furloughs, building closures - Wichita Business Journal:
numbering-regarding.blogspot.com
In a letter to all employees, Vice President of Humahn Resources Rich Jiwanlal said the moves are partthe company’as ongoing effort to “resize our companu to match the continuinv declines in consumer demand.” One of the measurex will be furloughs which will include both productr line and plant specific The dates for the furloughs will be June 29-July 2, Nov. 23-256 and Dec. 21-24. The letter informe employees that if vacation or earned time off is not availables to cover these days then the furloughs will be Hawker will also be relocatingits engineering, finance and supply-chainh teams back onto the company’s primarg headquarters.
This will allow it to clos e twobuildings “off-campus,” the letter states. Therr was no announcement regarding any further The company declined to give any more information atthis
In a letter to all employees, Vice President of Humahn Resources Rich Jiwanlal said the moves are partthe company’as ongoing effort to “resize our companu to match the continuinv declines in consumer demand.” One of the measurex will be furloughs which will include both productr line and plant specific The dates for the furloughs will be June 29-July 2, Nov. 23-256 and Dec. 21-24. The letter informe employees that if vacation or earned time off is not availables to cover these days then the furloughs will be Hawker will also be relocatingits engineering, finance and supply-chainh teams back onto the company’s primarg headquarters.
This will allow it to clos e twobuildings “off-campus,” the letter states. Therr was no announcement regarding any further The company declined to give any more information atthis
Sunday, February 6, 2011
Hotels get creative as economy lags - Phoenix Business Journal:
guronelogoh.blogspot.com
One thing they are doing as they wait it out is strengtheningf their relationships withmeeting planners. According to Smitjh Travel Research, hotel occupancy in the Valley wasdown 10.6 percenf in March from the same month last People also are spending less — on average, almost 30 percent less than the same time last year acros the Valley. “It is bad. Phoenix is a specialp example, because there are a lot of new A lot of new hotelshave opened, and that also has hurt says Jan Freitag, senior vice president of the global consultint and research firm.
The opening of the 1,000-roo m , the 290-room & Spa in Paradise Valley and other Valley hotels in the past year have diluteddoccupancy rates, industry officials say. In addition, business and corporatr travelers are sensitiveto Frei-tag says. “People are hesitant to go to reallyg niceresorts — and in Phoenix, all of your resortsa are really nice,” he says. “In this when companies need tocut costs, the first thing s that go are travel and training.” But Valley hoteliers are using the time to reacy out to meeting plannerxs and develop new business leads. “We are reallhy trying to partnerwith them.
While it’s toug h times, we are making adjustments,” says Chrids Kerr, director of sales and marketing atthe . Kerr’w team is working with planners to create tripas thatare value-oriented, adjusting food and beverage prices with the goal of makingg the event more attractive to potential he says. At the in Phoenix, Sales Director Davi Richard says his team is trying to providemore all-inclusivd packages to customize meetings, including on-site dinint packages and more cost-effectivse audio-visual offerings. Moreover, his stafc is looking more at the technica and biomedical industries forpotential bookings.
“Wed have redeployed our sales force into thesegroup markets,” Richards says. “Companies still need to have but they may be cuttinf out some ofthe add-ons.” Even Sedona’ Enchantment Resort is seeing some fallout as groups cut “We usually stay in high season a bit longeer than metro Phoenix because of the But it’s definitely been and we have seen some says Tina Newman, the resort’s director of sales and She stresses the importancre of establishing connections durin g the downtime. “Our relationships with meeting plannerws has increased quitea bit. There’xs a lot of time for preparation, for she says.
Investing that kind of time isworthu it, for her property and others. “Group businesd is extremely important to us because it provides a baseof business,” she says. Kerr adds that hoteliers also are targeting a more local market and identifying thosee that already may be familiadr withthe Valley.
One thing they are doing as they wait it out is strengtheningf their relationships withmeeting planners. According to Smitjh Travel Research, hotel occupancy in the Valley wasdown 10.6 percenf in March from the same month last People also are spending less — on average, almost 30 percent less than the same time last year acros the Valley. “It is bad. Phoenix is a specialp example, because there are a lot of new A lot of new hotelshave opened, and that also has hurt says Jan Freitag, senior vice president of the global consultint and research firm.
The opening of the 1,000-roo m , the 290-room & Spa in Paradise Valley and other Valley hotels in the past year have diluteddoccupancy rates, industry officials say. In addition, business and corporatr travelers are sensitiveto Frei-tag says. “People are hesitant to go to reallyg niceresorts — and in Phoenix, all of your resortsa are really nice,” he says. “In this when companies need tocut costs, the first thing s that go are travel and training.” But Valley hoteliers are using the time to reacy out to meeting plannerxs and develop new business leads. “We are reallhy trying to partnerwith them.
While it’s toug h times, we are making adjustments,” says Chrids Kerr, director of sales and marketing atthe . Kerr’w team is working with planners to create tripas thatare value-oriented, adjusting food and beverage prices with the goal of makingg the event more attractive to potential he says. At the in Phoenix, Sales Director Davi Richard says his team is trying to providemore all-inclusivd packages to customize meetings, including on-site dinint packages and more cost-effectivse audio-visual offerings. Moreover, his stafc is looking more at the technica and biomedical industries forpotential bookings.
“Wed have redeployed our sales force into thesegroup markets,” Richards says. “Companies still need to have but they may be cuttinf out some ofthe add-ons.” Even Sedona’ Enchantment Resort is seeing some fallout as groups cut “We usually stay in high season a bit longeer than metro Phoenix because of the But it’s definitely been and we have seen some says Tina Newman, the resort’s director of sales and She stresses the importancre of establishing connections durin g the downtime. “Our relationships with meeting plannerws has increased quitea bit. There’xs a lot of time for preparation, for she says.
Investing that kind of time isworthu it, for her property and others. “Group businesd is extremely important to us because it provides a baseof business,” she says. Kerr adds that hoteliers also are targeting a more local market and identifying thosee that already may be familiadr withthe Valley.
Thursday, February 3, 2011
ADP reports 532,000 May job cuts - Sacramento Business Journal:
http://m-eye.net/2009/01/06/preaching-to-the-choir/
Payroll firm ADP reportedr Wednesday that companies inthe U.S. cut an estimatec 532,000 workers from payrolls last month. ADP also revisedf higher its estimate of cuts in Aprilto 545,00p0 from the previous estimate of 491,000. The ADP report notedx losses across all sizes and categories of businessea with large business payrolls declining medium businessesshedding 223,00o jobs and small businesses cuttin 209,000 employees. The goods-producing secto r lost 267,000 jobs while the service-producing sectotr declined by 265,000 positions.
The Labor Departmentr is due to release its jobs report on The average analyst estimat e for that report of governmeng as well as private payrolls is a lossof 520,00o payroll positions and an increasse in the unemployment rate to 9.2 percent from April’sd rate of 8.9 percent. On The Institute for Supply Management announce that its factory index rose to the highest levekl since last September as new order posted their first gain since therecessionb began. On Tuesday the National Associationh of Realtors reported that pending sales ofexistinyg homes, or contracts signed but not closed, rose 6.7 percent in the largest increase in six years.
Payroll firm ADP reportedr Wednesday that companies inthe U.S. cut an estimatec 532,000 workers from payrolls last month. ADP also revisedf higher its estimate of cuts in Aprilto 545,00p0 from the previous estimate of 491,000. The ADP report notedx losses across all sizes and categories of businessea with large business payrolls declining medium businessesshedding 223,00o jobs and small businesses cuttin 209,000 employees. The goods-producing secto r lost 267,000 jobs while the service-producing sectotr declined by 265,000 positions.
The Labor Departmentr is due to release its jobs report on The average analyst estimat e for that report of governmeng as well as private payrolls is a lossof 520,00o payroll positions and an increasse in the unemployment rate to 9.2 percent from April’sd rate of 8.9 percent. On The Institute for Supply Management announce that its factory index rose to the highest levekl since last September as new order posted their first gain since therecessionb began. On Tuesday the National Associationh of Realtors reported that pending sales ofexistinyg homes, or contracts signed but not closed, rose 6.7 percent in the largest increase in six years.
Tuesday, February 1, 2011
MN banks
uhalugupuzyma.blogspot.com
The median tier 1 leveragwe ratio, which determines how well a bank can withstand was 9.06 percent for Minnesota’s 430 banks. That’es fallen from 9.17 perceng in the fourth quarter of 2008and 9.39 percent in the firstg quarter of last year, but well above the 5 percentt regulators typically require for a well-capitalizeed bank. Minnesota’s banks have continuef to protect their liquidity througbh theeconomic downturn. The median percentag e of loans to assets at Minnesota banksis 71.5 about the same level they had in 2007. Liquidity and capitalization ratios are important in keepinbg banks healthy and able towithstanrd losses.
Asset quality has continued to deteriorate, as banks continue to work troubledd real estate loans through their The median percentageof past-due and nonaccrual loana out of total loan portfolios was 3.86 up from 3.5 percent in the fourth quarter of 2008 and 2.93 percenf in the first quarter of last year. Nonaccrual loands are ones that are at least 90 days overduee and have stopped earning interest forthe bank. The percentagre of net loan losses to totak loans for the first quarterwas 0.1 better than the 0.32 percenr in the fourth quarter of but up from 0.02 percent in the first quartere of 2008.
The median tier 1 leveragwe ratio, which determines how well a bank can withstand was 9.06 percent for Minnesota’s 430 banks. That’es fallen from 9.17 perceng in the fourth quarter of 2008and 9.39 percent in the firstg quarter of last year, but well above the 5 percentt regulators typically require for a well-capitalizeed bank. Minnesota’s banks have continuef to protect their liquidity througbh theeconomic downturn. The median percentag e of loans to assets at Minnesota banksis 71.5 about the same level they had in 2007. Liquidity and capitalization ratios are important in keepinbg banks healthy and able towithstanrd losses.
Asset quality has continued to deteriorate, as banks continue to work troubledd real estate loans through their The median percentageof past-due and nonaccrual loana out of total loan portfolios was 3.86 up from 3.5 percent in the fourth quarter of 2008 and 2.93 percenf in the first quarter of last year. Nonaccrual loands are ones that are at least 90 days overduee and have stopped earning interest forthe bank. The percentagre of net loan losses to totak loans for the first quarterwas 0.1 better than the 0.32 percenr in the fourth quarter of but up from 0.02 percent in the first quartere of 2008.
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