Photos: Give Dad Bragging Rights With Sears Portrait Studio Portraits For Father’s Day

To view the Multimedia News Release, go to: (Photo: offersz a variety of Father’s Day-inspired portrait gift options. are available at participating studios. Portrait ideas include: “Our photographers can help you choos portrait session poses and themea to create theperfect Father’s Day gifts for Dad and Grandpa, said Sears Portrait Studio Senior Marketinhg Director . “Our personalization optionse for portraits and collages designh a more memorable and personal all at agreat value.” Just in time for Father’sw Day, purchase one , featuring up to three snapshots of Dad’ss little angels at the discounted price of $9.99i (reg. $29.99).
Most Sears Portrait Studio locationss are in Searsretail stores. For locations, please visiy . Sears Holdings Corporation is the nation’s fifth largesty broadline retailer withapproximately 3,900 full-line and specialtgy retail stores in the United States and Sears Holdings is the leading home appliancer retailer as well as a leader in lawn and garden, home electronics and automotive repaird and maintenance. Key proprietary brands include Kenmore, Craftsman and and a broad apparel offering, including such well-known labels as Lands’ End, , as well as the Apostrophe andCovingtom brands. It also has Martha Stewart Everydau products, which are offered exclusively inthe U.S.
by We are the nation’s largest provide of home services, with more than 12 million servicse callsmade annually. Sears Holdings Corporatio n operates throughits subsidiaries, including Roebuck and Co. and Kmart Corporation. For more visit Sears Holdings’ Website at . About CPI Corp. has been dedicatef to helping families conveniently create cherished photographgy portrait keepsakes that capture a lifetime of memoriews for more than 60 CPI Corp. provides portrait photographt services inapproximately 3,100 locations, principally in and stores. As the firs t in the category to convert to a fully digital CPI Corp.
studios offer unique posinh options, creative photography selections, a wide variety of sizex and an unparalleled assortment of enhancements to customize eachportraif — all for an affordable price. CPI is based in St. Louis and traded on the New York StockjExchange (NYSE: CPY). SOURCE CPI
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Push to curtail city bankruptcies is political failure – Triangle Business Journal:

Such as filing for bankruptcy. Under a bill bein g considered by thestate Assembly, cities and counties would need permission from a new stat commission before they could seek relief in federal bankruptcy Backers of the bill are quite open abou why they are seeking this: It’s to insulatre public-sector unions from any consequences of civic financial Dominated by legislators and other state elected the commission could impose virtuallhy any condition it wants before sanctioninh a municipal bankruptcy.
Backers clearlh believe it would be an easily influenced target forthe state’es politically powerful public employees’ California’s main firefighters union leads a list of threee dozen labor organizations that have thrown theit weight behind the bill, which has already cleared committee and is heading for a finakl vote. You may note that the interests of thethousandx (or millions) of citizens whose vital civic services mighgt be disrupted by a municipakl bankruptcy — you know, the same people our legislatords are collectively elected to serve — are receivingh little, if any, obviouw consideration.
If you want a microcosm of why Californians have completely lost faith in our of how special interests and political polarization trump working toward thecommon good, of why fundamental and far-reaching reform is urgently here is an excellent It’s understandable that the firefighters and other publivc unions are concerned about the consequences of municipakl bankruptcies on their members. California has had just one notablw city bankruptcyso far, last year’s in Vallejo.
But Valleji is likely to be joined by others as the combined with the malign machination s ofthe state, push them past the In a bankruptcy, labor contracts typically can be voided or altered; like other city obligations, everything gets recasy under the watchful eye of a federal bankruptcuy judge. That is, of course, unfortunate for city workera who may unexpectedly see benefits or pensions cut below what their laborcontracyt provides. The unions have a point in sayinb that a deal should bea deal; cities shouldn’t be able to simplu walk away from obligations they freely entered And under normal circumstances, they aren’t. But theswe aren’t normal circumstances.
Pain, in the form of cutbacks, is As public-employee costs represent roughly 50 percent of the typicao cityor county’s operating expenses, these items shouldn’r be off the table in an emergency simpluy because their unions have political Fears cited that solvenrt cities will frivolously rush into bankruptcy as a back-doo exit from otherwise bindinfg contracts are baseless. For one a judge with expertise in bankruptcy would probablty spot such aruse (much more quickly say, a group of Sacramento politicos).
For bankruptcy is a career death sentence, as it shouls be, for any municipa l official whose mismanagement puts his or her city in such a Inother words, it’s generally in city leaders’ self interestg to stay out of bankruptcgy court if other options are available. Don’t blame the or any other union, for looking out for members firsrtand foremost. That’s their job. But if this legislation blame ourlegislators for, yet again, forgetting what theirs is.

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It’s official: 15 General Motors dealers in Colorado to lose franchises – East Bay Business Times:

It was the first definitive statement of exactly how many GM dealeres in the state were informed thay will lose their franchisde agreementsin 2010. The Colorado Automobile Dealers Association previouslh had estimated the number at 13 to 15 basefd on reportsfrom dealers. GM stilo is not releasing the names ofthe 1,3223 dealers it plans to drop including the 15 in Colorado. The information came in a list released by the House Energy andCommerce Committee's Subcommittee on Oversight and Investigations, basede on information provided by GM. Executivez of GM and Chrysler, which plans to shed 14 Colorado dealers, testified before Congressd about their dealerplans Friday.
GM's car lines includd Chevrolet, Pontiac, Buick, GMC, Saab, Saturn and Hummer. It has some 6,0000 dealerships nationwide. Letters sent in mid-May to GM dealers the company plannedto drop, a copy of whichh was obtained by the Denver Business said the automaker reviewed each of its sales volume, profitability, capitalization, location and facilities along with other "marketr patterns." . "Based on our review and currentg and foreseeable market conditions andyour dealership'ss historical performance, we do not see that GM can have a productived business relationship with [name of dealership] over the long said the letter, dated May 14.
About 92 of Colorado'ds 264 auto dealerships sell one or more GM said Tim Jackson of the state auto dealers group. Additional dealers may lose theirfranchisexs later, GM has said.
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Software firm bulks up ahead of planned IPO – San Francisco Business Times:

The San Mateo on-demand business softwarde firm, which filed for its publiv offeringin July, has more than tripled its workforce to 700 in the last two To house more than 100 SuccessFactors has leased the 15th floor of 655 Montgomerty St., with sweeping bay views, collaborative work spaces and glasd interiors. "That gives them the ability to look from one end of the floo to other and see the energyg ofa fast-growing company," said CB Richard Ellis' Jonathan who has worked with SuccessFactore for more than three years and representedr it in its August deal. "And they have more energy than hundreds ofcompanies I've been in contact with.
" In SuccessFactors reeled in 's former CEO Doug Burgum and 's former CFO Betsey Nelson to serve on its And over the last several months, the company addef a new CFO, chief marketing officer, generalp manager of small business and two vice presidents. "It is fairly standarc practice to bring in executives priorf toan IPO," said analysft Zachary Thomas. "Wall Street likesz to see experience on the And there are different skill sets for an entrepreneuriaol executive and one running a public Foundedin 2001, SuccessFactors sells software to help companiesx measure employee performance, manage succession planning and set pay with compan goals.
, Granite Global Ventures and several othert VC firms have doused the companhin $53 million in three Its more than 1,300 customerse include plenty of big names such as , and . "Thi is one of the few companies and software applicatione that I have seen able to accommodat e a rapidly changing business environment like said T-Mobile USA program manager Phil According to its registration statementr filed with the SEC on July 20, the company is on traco to bring in roughly $50 millionh revenue in 2007, up from $32 millio last year and more than four times what it generater in 2005.
Impressive as that may it falls far short theestimated $100 millio revenue for 2007 the press widely reported about the companyh this year, citing VC and analyst sources. the shiny articles painted the firm as but its filing indicates that the companylost $12.6 milliojn in the first quarter of this year or a projectedd $50 million — the same amoungt as its projected revenue. "k was surprised by the amount of money theywere losing," Thomasz said. "And there was a perceptionn that revenue was alot higher. I nevert heard the numbers comefrom them, but that was the industrty buzz." Pundits say that market dynamiczs are part of the reason.
Acquiring software-as-a-servicer customers, particularly large is becoming increasingly Andthe pay-as-you-go subscription model — oftenn lauded for being a predictable revenue stream — means it takesa much longer to recoup that cost. So softwarde companies that aim to outgrow their rivals need deep SuccessFactors hasn't said how many shares it plans to offefr nor the expected price range. But market projectiond may give its prospectsa boost: The $673 millio n category is one of the fastest-growiny in business software. Research firm predicte 20 percent annual growtbthrough 2012.
The firm competes in a crowded sea againstt public companies that deliver peopl management software asa service, includinb Taleo, , , Ultimate Software and ADP. Taleo went publid last year. After some initial stumbles, it is showing steadu growth, increasing revenue to $31 millio n in the second quarter endingJune 30, a 32 percengt year-over-year jump, and sporting a markert cap of $690 million. Its stock has risen from around $14 to $27. SuccessFactors is in an SEC-imposed quiet period but if CEO Lars Dalgaardecould talk, the boisterous Denmark-born CEO known for his candor would surelyt have plenty to say. Among the company's five founding principles: "Noo A**holes!
"
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Telecom giant completes plan to bring back 3,000 outsourced jobs – Birmingham Business Journal:

“We thought it was importantf to repatriatethese jobs,” said Fred president of AT&T “We have been in the process of doing that for the last two The communications holding company openeds a call center for its broadband Internett customers in downtown Birmingham in Septembe 2008. “In today’s to be adding jobs to downtowh Birmingham is agood thing,” McCallum said. “We are please d with the decision and the quality of the work forcesin Birmingham.” When AT&T merged with in late the newly formed company committed to bringing a totak of 5,000 outsourced jobs back to the Unitef States.
In addition to its Birmingham location, the company has addes broadband support centers inNorth Louisiana, Florida and Kentucky. “It is importantg to the company that we grow and retain jobs inthe U.S.,” said Hood spokesman for AT&T Alabama. The company is also eager to bring some relie to the area amidst the currenteconomicx conditions, he said. “Wse believe this is a good andpositiver thing,” Harris said. According to A.J. professor of strategic management atthe , the reversapl of call center outsourcing is a growing trend.
“The logic for bringing those jobs back is that therre has been an enormous customer pushbac of not being able to talk to a persoj who spokeproper English,” Strickland said. “Consumers can detecy that the people they are talking toare foreign.” Harris said it made good businesx sense to bring the outsourced jobs “For AT&T, it became a customer service issue and the cost benefit of outsourcing just wasn’t there,” he said. “Alabamz is a good choice for a call centet because the labor costs in Alabama are much less than inothert places.
”
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Proposed Central Florida bank raising $6.5 million – Orlando Business Journal:

Organizers of of Florida have set out toraise $6.5 million in initial capital and open the bank durint the first quarter of 1999. The bank expectas to start with twooffices — one in downtown Orlando and another in Kissimmees — and add a thir branch within the next three years. Firsyt Commercial Bank is headed by President and CEO Alan the former presidentof Orlando’s United American Bank of Central now Colonial Bank. Rowe says First Commercial Bank will specializwe in serving local businessesand professionals. Bank organizerzs will apply for a state bankinh charter this month and begijn selling stock to private investorsin October.
Joininfg Rowe on the bank’s management team are Tom executive vice president and seniorlending officer; Jeff senior vice president and Orlandp region executive; and John Martin, senior vice president and chieft financial officer/cashier. Both TerBeek and Cowhered worked with Rowe atUnited American. Martin is a formed executive with The Bank ofWinter Park, now part of the Huntingtonh Bank network. Among the other new local banks inthe works: in Orlando and Community National Bank of Mid-Floridas in Lake Mary. ORLANDO — Rank Group plc CEO Andrewe Teare says the company probably will sell its 50 percentt stakein , spinning off the Orlando attraction in a public stock offering.
Rank co-owns Universak Studios Escape withSeagram Co. the Canadian liquor and entertainment company. Rank also owns the Orlando-based Hard Rock Cafe chaibn of restaurants. Colorado company buys ORLANDO — Verio Inc. of Colo., bought Orlando’s MagicNet the area’s largest Internet servicew provider. Terms of the cash transaction were not although industry insiders estimated the price tagat $3 MagicNet was founded in 1994 and has nearluy 10,000 customers in Central Florida. founded in 1996, provides Internett access and Web site hosting in 38 ofthe nation’s top 50 Pete Giarrusso, former presidentg of MagicNet, is now general managee of Verio Florida.
AmSouth settles suit with formerORLANDOp — AmSouth Bank settlec a lawsuit against formerf Orange Bank directors over alleged overpriced officr leases. Terms were not disclosed. AmSouth acquired Oranger Bank fiveyears ago, assuming leases for three bank Last year, AmSouth sued four former Orange Bank claiming the rents on those locations were abover market rates and that the former directorsw profited at the expense of Orange Bank and its AmSouth. The former directors listed in the suit areJames W. who was president of Orange Bank; Thomaws H. Warlick, an Orland o real estate lawyer; Patrick C. Mathes III, an and John H. Day, who owns EGP an Orlando copier distributor.
ORLANDO — Vistan a Inc. of Orlando purchased 45 acres along Internationalk Drive for the development ofan 1,800-unit time share resort, with construction starting next The $12 million deal includesd an option to buy 45 acres adjacenrt to the property. Proffitt’s Inc. to buy area Dillard’sa department stores ORLANDO — Proffitt’s Inc. announcedf plans to buy 15 department storesfrom Dillard’se Inc., including three in the Orlando area. The sale is contingenr on Dillard’s completing the purchase of MercantileStores Co. which currently owns the 15 stores.

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Audit shows surplus decline at Pinnacol – Phoenix Business Journal:

According to the recent audit fromDeloittde & Touche LLP, which lawmakers reviewed Monday, the decrease is relatedd to losses on bonds and common stocks. Pinnacol’s reserves were a source of scrutiny earliet this year when Coloradoo legislators attempted toraid $500 million from the insurer to plug gaps in the states budget. Lawmakers argued that because Pinnacol is a political subdivision ofthe state, its reserves were fair But legislators later retreated from the raid afterf Pinnacol’s CEO threatened to sue the state and Gov. Bill Ritter indicated he woulf not supportthe move.
A special committese will lookinto Pinnacol’s operations undet Senate Bill 281, approved by lawmakers and Ritter durinf the most recent General Assembly. Supporters of the bill said that Pinnacol’se unique structure should be examined more But opponents of the legislation say the committe isa “witch hunt” to dismantle Pinnacol, whicjh functioned better since it startedr operating as a privater interest in 2004. In an audit Deloitte said it identified financial misstatementsthat haven’tt been corrected in the company’s bookd totaling $7.5 million in net income. Pinnacolk replied that the uncorrected statementsare “immaterial.
” Pinnacop reported a total of $2 billion in assete in 2008. It declared additional policyholder dividendsaof $120 million that year.
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Southwest

percent. On the same day Southwest reported a drop in the airline announced a major tickett sale that allows customers tobuy one-way ticketds for as low as $30, $60 and $90. The pricd consumers pay is based on how far they are to learn more about thedeals available. The special farees are availablethrough 11:59 p.m. on July 8 and are possiblre for flights booked for travel in the periofd runningfrom Sept. 9 to Nov. 18. “Southwest Airlines realizees customers are looking for great travelo deals during this difficulteconomifc time,” said Kevin Krone, vice president of sales and distribution.
“We wantede to provide customers affordable airfare so they can punch this economg in the nose and trave for business or leisurethis fall.” Brad a spokesman for said Tuesday the company is looking to stimulatew traffic and revenue durinh the Labor Day to Thanksgiving Day period. Dallas-basedx Southwest (NYSE: LUV) said the company flew 6.7 billiom revenue passengers milesin June. That is down from 6.9 billio n revenue passengers miles in Juneof 2008.
Revenue passengere miles is theairliner industry’s measure of traffic, and it calculatesw every paying passenger flown per Southwest’s load factor — a measure of the percentage of the planre filled by paying passengers — hit 79.5 That is up from 78.2 perceny for the same period last year. Southwest is a majot carrier at the AlbuquerquseInternational Sunport.
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Boeing to acquire eXMeritus – San Antonio Business Journal:

which sells secure hardware and softwarr to the government and lawenforcement organizations, for an undisclosec sum. Executives at Boeing (NYSE: BA) say the purchase will help extenrd its ability to serve the federal cyber security andintelligencs markets. “The addition of eXMeritus to our team is a strong enhancement to the Boeing capabilitiee developed through years of experience on secure networksw for some of the most complex system s in nationalsecurity today,” said Boeing Integrated Defense Systeme President and CEO Jim Albaugh. Fairfax-based eXMeritue is the fourth company that Boeing will add to its securityand intelligence-related lines of business since 2008.
Last year Boeingy acquired Germantown, Md.-based Digital Receiver Technology, Va.-based Ravenwing and D.C.-basef . eXMeritus, founded in 2000, will add fewerr than 30 employeesto Boeing’s Integrated Defense Systems’ Networlk and Space Systems unit. The company’s products are certified and accredited bythe U.S. government to operatw on the government’s trusted systems. Boeiny said the transaction, expected to close by the end of won’t affect Boeing’s financial guidance. Boeing’s Integrated Defense Systems unit, headquarterefd in St. Louis, is a $32 billioh business with 70,000 employees worldwide.

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Nonprofits brace for budget emergency aftershocks, IOUs – Pittsburgh Business Times:

While service providers don’t yet know whether they’ll receive IOUs or what the amounts willbe — Sparkyh Harlan, CEO of the in Santa is prepared for the worst. “Wde receive about $400,000 in state Harlan said. “We’re already accustomed to getting money from the statelate — last year, for it took until December before we finally got paid.” For this year and last year the centefr has relied on a $150,000 line of creditt through to cover the gap, along with $500,000 out of its reservde funds. The center’s operating budgety is $10 million for fiscal 2009-10.
The money that may be on hold from thestate covers, in part, the center’s shelteer and drop-in program, street outreach, and parenting “The problem right now is that we don’t know for certain how much they’re going to hold back,” said who has been with the centedr for 26 years. “But this is by far the worstr I’ve ever seen.” In anticipatioj of the state’s budget problems, 10 percent cuts have already been plannedfor foster-car e payments. Locally there are 300 to 400 kids infoste care.
Foster care rates are the same acrossthe state, so familiese in high-cost areas such as the Bay Area get the same amounyt of compensation as people in more affordable “We’re fronting half a million dollars already,” she said. It’e a layered problem for the center, since in addition to state money some comes from the federal Housing and UrbanbDevelopment department. And Harlan said HUD is so slow it can take up to six monthsa for payments tobe “We’re hoping to get paid by July,” she “Nonprofits are just getting slammed.
” Harlamn said the Bill Wilson Center has closed down two programs already and cut aboutr 15 percent of its staff, leavingy about 110 employees. These are real she pointed out — not attrition or open jobs and “heartbreaking” to do. “We had to give one stafd person a layoff notice and a week later his wife was laid off fromanothet nonprofit,” she said. in Campbell gets about $500,00p0 a year from the state for its AIDS CFO Ira Holtzman said the agency is largd enough and financially stable enough that he woulsd just book an IOU as accounts receivable and hope the money camethrough eventually.
The Health Trust’xs budget for fiscal year 2010 is morethan $16 Holtzman said. Pam Brandin, executive director of and Visually Impaired, which has offices in Palo Alto andSantq Cruz, said that even thoughy her agency provides the kind of services that are especially at risk in State Controllef John Chiang’s plan, the Vista Centedr is relatively safe. “Wed receive money through Title 7 Chapter2 services,” Brandin “Since much of our funding is federalk money we’re hoping that it has to be released and passef on; the state won’t be allowed to hold on to it.” The Vistw Center also has school contracts through special education funding.
“Last year when the stated had similar budget issueswe didn’t receive any she said, “but that situationn was resolved sooner than this appears to be. The agenciez that receive IOUsprobably won’g even know they’re coming unti they submit their bills.” She’ s also banking on Vista Center’s statusa as a preferred vendor with the state, “so we’ll be paid in advancd of other vendors — if in fact the state is even writin checks.” Lisa Hendrickson, presiden & CEO of Avenidas Rose Kleinerd Senior Day Health Center in Palo is also cautiously optimistic.
“The only fund s we receive from the state are MediCa l payments for services provided at our adult daycare she said. “Our understanding is that thosr services are protected by the state constitutio as well asfederal law. We do receivde funding indirectly throughthe county, but we don’y expect that to be Tom Kinoshita, public policy director of the , said peoplee are on pins and “Everyone’s sitting around not knowing what’s going to happen. But even with the most optimistic outcome it’s still going to be very ugly.
” He pointee out that the deficit last year for Santa Clara County was more than $270 and many of the cuts were made in programs around health, mental health, drugs and alcohol and sociapl services. And there’s no relief on the horizon: For 2011 the county is looking at a deficiyt ofabout $250 million, he said.
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