Jack Martin, Detroit's Chief Financial Officer under a consent agreement with the State of Michigan, said Friday the city would run out of money within a week if the state withdraws $80 million in revenue sharing.
Detroit's City Attorney is suing to stop Detroit from entering into a financial stability agreement with the state of Michigan. The claim is that Michigan is in default to Detroit and that the state has not paid the city enough in shared revenue for years. It's to the tune of hundreds of millions of dollars.
The state of Michigan wants the lawsuit pulled immediately because of bond financing. The state floated Detroit $80 million to refinance bonds. Jack Martin said the city has already spent $35 million from the fund.
An emergency meeting between Detroit Mayor Dave Bing and City Council was postponed Friday, because Council members said not enough notice was given ahead of time and they were concerned about violating the open meetings act.
Mayor Bing scheduled the meeting Thursday evening.
Detroit Mayor Dave Bing released a statement Thursday night, but did not respond to interview requests.
"My team is working closely with the state to mitigate any negative impacts on my administration's plan to financially stabilize the city," the mayor's statement read. "We want this matter resolved expeditiously for the sake of the citizens of Detroit."
The meeting has been rescheduled for Monday morning.
Nominations open for the Bury Free Press Business Awards - Bury Free Press
WE are looking for the very best in business to take a bow.
The inaugural Bury Free Press Business Awards were launched last week.
These awards will celebrate the very best in West Suffolk business and showcase the skills and entrepreneurs we have here.
Today, we begin to profile each of the 11 categories and give you the chance to nominate businesses and individuals for those awards.
Anyone can nominate using the form on this page - you can nominate someone or a business who has performed well, you can nominate someone you work alongside or you can nominate yourself or your own business.
Once we have all the nominations in - closing date is August 1 - we will approach everyone who has been nominated to find out more details about them or their business. This information will then be used by judges to determine the three finalists who will be invited to the glitzy awards ceremony at The Apex, in Bury St Edmunds, on Friday, September 21.
This week’s featured categories are Business of the Year and Business Person of the Year.
The Business of the Year category, sponsored by Suffolk Chamber, will be a hard-fought category.
Barry Peters, editor of the Bury Free Press, said: “Whoever wins this category will have demonstrated vision, ability and something unique which sets them apart.
“We are looking for excellence, pure and simple.”
Sicon is sponsoring the Business Person of the Year award and business director Jane Youngman said: “Sicon is proud to be part of the Bury Free Press Business Awards, and we see the winner of this category being someone who has made an outstanding contribution to their company or organisation, who has been able to demonstrate commitment, having had the opportunity to demonstrate leadership to a high degree, has vision and is instrumental in the company’s future.”
Two more categories - People Development and Contribution to the Community - will be featured in next week’s Bury Free Press.
Remaining categories are the BID Award, Business Innovation, International Trade, Best New Start-up, Green Award, Employee of the Year and Independent Trader award.
The Bury Free Press Business Awards signal the culmination of the Bury St Edmunds Business Festival.
Send in your nominations for Business of the Year and Business Person of the Year by emailing barry.peters@buryfreepress.co.uk
'Social Business by Design': A Road Map - ClickZ
A former supervisor used to hand out tough assignments for projects to our team, consistently saying they'd be "easy" to complete. Invariably, "easy" became a euphemism for four-letter words: work - hard work.
The same truism applies to social media and social business. If a supervisor thinks it's easy to do both, you have important allies in Dachis Group consultants Dion Hinchcliffe and Peter Kim. Their new business strategy book, "Social Business by Design" provides a road map, written jargon-free for the C-level executive, to understand options on the path to social business nirvana.
As most marketers know, social media marketing is difficult but rewarding work. While just about anyone can set up a Facebook page, Twitter account, or YouTube channel, those are baby steps to becoming a social business.
Embracing a social business mindset is even more challenging. It demands that a business overhaul its operations to be more inclusive of all employees, partners, and customers. This sort of undertaking requires buy-in from nearly everyone in an organization, from top-level executives to front-line customer service reps.
Let's consider Hinchcliffe's and Kim's definition of social business:
Social business…"taps into entirely new sources of creative output (everyone on the network), relinquishes structure that reduces productive outputs, and inverts methods of traditional control and decision making in work processes (anyone can contribute as long as they create value) while focusing on useful outcomes."
To keep things simple, Hinchcliffe and Kim identify 10 social business tenets and provide examples for adopting the tenets throughout the book. Narrative is accompanied by charts that depict areas of functional responsibility for social businesses, an "engagement cycle," and more.
Who's Winning in Social Business and Why
Throughout the book, the authors discuss how social business strategies help real businesses get real results: better marketing, sales, customer service, product development, and work productivity.
Take the example of Intuit's TurboTax and its aging customer support system. It could not keep up with rival H&R Block's network of 12,000 office locations and in-person support. The authors explain:
"Intuit came to a remarkable conclusion: its single largest and most valuable asset wasn't its brand, its state-of-the-art facilities, or even its thousands of workers. It was its customers. They were the millions who had to file tax returns every year and had been through every possible tax situation," the authors wrote. Intuit created a system called Live Community social support system and integrated it into the TurboTax product. That service was credited with helping Intuit provide better customer support, lower product abandonment, and achieve over twice the market share of its competitor.
The authors pack "Social Business by Design" with dozens of other examples, explaining how other businesses have adopted social business principles and what that meant for their operations. Among the examples: enterprise tech companies SAP, IBM, and Microsoft, as well as MillerCoors, Ford, the Amex Open Forum, Intuit's TurboTax, and L'Oreal.
The authors demonstrated discipline, writing for high-level business executives and avoiding technology buzzwords and acronyms. For instance, when discussing "social media building blocks," they define for search engine optimization, social customer relationship, community management, and workforce collaboration. I found their definition of "demand generation" to be helpful, too: "Targeted digital awareness efforts to drive an understanding of and interest in a product or service."
Throughout the book, Hinchcliffe and Kim focus on businesses - and not the people or technologies that make them social. It goes without saying: any business that aspires to be social must put people first. Maybe that's a project that social business advocates can produce using a collaborative platform.
Get the recognition you and your team deserve. ClickZ's Connected Marketing Awards honor brands and organizations that have embraced creativity and interactivity to connect with their audiences - and drive business outcomes. Deadline: 5 p.m., ET June 25. Submit your nomination.
Orange Business Services Named Data Communications Service Provider of the Year 2012 - TMCnet
PARIS & SINGAPORE --(Business Wire)--
Orange (News - Alert) Business Services, a leading global integrator of communications solutions for multinational corporations, has been named the 2012 Data Communications Service Provider of the Year by international market research and technology analysts Frost & Sullivan (News - Alert). Orange is the recipient of the prestigious award for the second consecutive year.
The Frost & Sullivan Award recognizes the outstanding performance of Orange in Asia Pacific in 2011. Orange clients in the region benefit from its comprehensive portfolio of managed and network-related services and strong delivery capabilities. With 157 points of presence (PoPs) in 101 cities across 40 countries and territories, Orange Business Services (News - Alert) offers multinational customers in Asia Pacific access to its next-generation converged IP network that delivers enhanced coverage, capacity, performance and resilience.
"Orange has been focusing its efforts to driving growth from the Asia Pacific region, where it has a market leading local presence. During 2011, Orange Business Services further strengthened its market leading communications network in Asia Pacific through strategic alliances. At 157, it has the highest number of Points of Presence (PoPs) across the Asia Pacific region which provides it unmatched coverage. With its increasing focus on regional businesses, the company increased its on ground presence by adding over 200 new customer facing employees during the year. In order to further enhance its value proposition, the company is in the process of implementing a 10G ring network between Japan, Hong Kong and Singapore providing customer benefits such as improved service, dynamic bandwidth reallocation, improved SLAs, VPLS and 1G access," said Mayank Kapoor, Industry Analyst - Datacenter and Cloud Computing, Asia Pacific ICT Practice, Frost & Sullivan.
Yee-May Leong, Senior Vice President, Orange Business Services Asia Pacific, said: "We are proud to be recognized as the foremost Data Communications Service Provider for two years running. Receiving the award a second time shows our commitment t our customers and their evolving needs. Orange Business Services provides for multinational and local enterprise customers in Asia Pacific world-class integrated communications services in cloud computing, unified communications and collaboration. We consistently deliver these solutions in the way that meet our customers' needs for coverage, capacity, performance and resilience."
&
Chris Hughton to get financial backing at Norwich City - BBC News
New Norwich City boss Chris Hughton has been promised the most "financial freedom" in the club's history.
The former Newcastle United and Birmingham City manager was unveiled as Paul Lambert's successor on Thursday.
"In Norwich City terms there's more financial freedom for the manager than there's ever been," chief executive David McNally told BBC Radio Norfolk.
"If we can create spare cash flows, the manager gets that. He's got a decent payroll budget and transfer budget."
Lambert, who has been named Aston Villa's new boss, was able to secure back-to-back promotions and a mid-table Premier League finish on a modest budget, buying players with little or no top-flight experience.
But a restructuring of the club's debts and a second successive year in the Premier League has put the Canaries on a solid financial footing.
"Chris has got our commitment that if any player leaves the club for money, he will get that additionally," said McNally.
"I think that's quite an attractive proposition for a hungry, committed manager like Chris Hughton. I don't think he had any spare cash to trade with at Birmingham."
McNally says Hughton will hold talks with want-away striker Grant Holt but declined to guarantee the club captain the 12-month extension he desires to his current two-year deal.
He said: "In any walk of life, you don't want colleagues to be unhappy.
"Grant Holt happy at the club will be far more effective for us than Grant Holt being unhappy.
"Who knows what will happen over the next few weeks? Chris will sit down with all 25 first-team squad members and that will include Grant."
The future of Lambert's coaching staff at Carrow Road is also uncertain.
His assistant Ian Culverhouse and coach Gary Karsa are still at the club, despite Hughton bringing his own team of Colin Calderwood and Paul Trollope to Norfolk.
However, McNally seems ready to dig his heels in if Villa come calling for Lambert's former coaching duo.
"We were encouraging Paul to extend his coaching network, we felt it was a little narrow," he said.
"As talented as Ian and Gary are, we wanted more support for those two key people, so we think this is a great opportunity to do that. (But) In the same way Grant Holt is not for sale, it doesn't stop people making offers."
Meanwhile, full-back Russell Martin has signed a new three-year deal at the club.
The former Wycombe and Peterborough United defender has amassed 113 appearances for the Canaries, including a prolonged stint at centre-half last season.
No comments:
Post a Comment