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Midcoast pharmacy sells to Rite Aid
By Mainebiz news staff (06/02/08)
Waltz Pharmacy Inc., based in Camden, has sold its prescriptions division to Rite Aid Pharmacy, and as a result plans to shut down three locations next week.
Waltz’s President Dean Jacobs attributed the sale to an increasingly competitive market, reductions in MaineCare reimbursement rates and a shortage of pharmacists, according to a press release from the company. Waltz officials said that Rite Aid plans to offer jobs to most of the 20 affected employees.
Waltz Pharmacy will be closing its Pittsfield location on June 11 and its Camden and Belfast locations on June 12. All prescription records at those locations will be transferred to Rite Aid by the closing date.
Waltz plans to keep its Waldoboro and Damariscotta locations open, along with the home medical equipment division of its Camden location and the Long Term Care Pharmacy in Topsham, the press release said.

mainebiz.biz

Finmetal Mining Ltd. (OTCBB: FNMM) today announced that it has effected a 1-for-20 reverse split of its Common Stock, as approved by its Board of Directors on May 22, 2007, and a change in name to Amazon Goldsands Ltd. (”Amazon”). Upon market open on Monday, June 9, 2009, Amazon’s common stock will be quoted on the OTC Bulletin Board on a split-adjusted basis under the new trading symbol “AZNG” (OTCBB: AZNG).
As a result of the reverse stock split, each 20 shares of issued and outstanding common stock as of today’s close of trading has been automatically converted into one share of split-adjusted common stock. No fractional shares of common stock will be issued in connection with the reverse split. Shareholders who would otherwise be entitled to a fractional post-split share will receive in lieu thereof one whole post-split share.
Shareholders are not required to take any action to effect the conversion of their shares. The presently issued certificates shall be deemed for all purposes to represent the number of split-adjusted shares that result from the reverse split. Shareholders of record as of the close of today’s trading may, but are not required to, contact Interwest Transfer Co. Inc., Amazon’s transfer agent, to exchange the certificates originally representing such shareholder’s shares of pre-split common stock for new certificates representing the number of whole shares of post-split common stock into which the shares have been converted. There may be a fee for such new certificates.
This release contains forward-looking statements that are based on the beliefs of Amazon Goldsands Ltd.’s management and reflect Amazon Goldsands Ltd.’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words “estimate,” “project,” “believe,” “anticipate,” “intend,” “expect,” “plan,” “predict,” “may,” “should,” “will,” “can,” the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Amazon Goldsands Ltd. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.

money.cnn.com

The sky-high cost of aviation fuel is prompting United Airlines to scrap more than a fifth of its fleet of aircraft as the industry grapples with soaring costs, amid new forecasts that the sector faces a $60bn (£30.7bn) funding gap.
United, which is the second-biggest US airline, announced yesterday that it was retiring 100 of its 455 planes - 94 short-haul Boeing 737s and six jumbo jets.
The cuts are an increase from previous plans to ground 30 aircraft. The number of job losses at the carrier will rise from 500 to between 1,400 and 1,600. The airline’s budget brand, Ted, is to be discontinued.
United’s chief executive, Glenn Tilton. said: “This environment demands that we and the industry act decisively and responsibly. We continue to do the right work to reduce costs and increase revenue to respond to record fuel costs and the challenging economic environment.”
The Chicago-based carrier is trimming the number of seats available on its network by between 9% and 10%. Most of the reductions will be on its domestic services, with United’s 11 daily flights to London likely to be unaffected.
United’s move follows the failure of merger talks with its rival US Airways last month. Its cutbacks come hot on the heels of a decision by the market leader, American Airlines, to scrap 75 planes and cut services by 11% to 12%.
Michael Boyd, an aviation consultant at the Colorado-based Boyd Group, said the planes being removed were older aircraft that could be axed without any liability to leasing agencies: “They’re being parked because they’re paid for, not because they’re fuel guzzlers.”
He said United was likely to trim the frequency on routes rather than abandoning destinations altogether, although he added: “Their management track record has been so clumsy; I don’t know how successfully they’re going to do this.

guardian.co.uk

Citizens Republic Bancorp cut eight employees — two in Southeast Michigan and the rest in other parts of Michigan and Ohio — as part of a restructuring of its commercial real estate lending operations.
The Flint-based bank (Nasdaq:CRBC) has suffered an increase in nonperforming commercial real estate loans according to recent earnings reports. Spokesman Brian Smith said the restructuring will help the company stay in the commercial lending business with more confidence.
“It was more than just responding to the economy,” Smith said. “It was restructuring our business model.”
Now, instead of the same person being responsible for generating new business and managing a portfolio of loans, each task will be done by separate people.
“What you’re seeing in this economy is some financial institutions getting out of commercial real estate. We want to stay in the business and do it with confidence. We believe this is our best model to do that,” Smith said.
According to its first quarter 2008 earnings report, Citizens saw its total nonperforming commercial real estate loans jump to $167.8 million from $110.1 million in the fourth quarter of 2007. The first quarter 2007 figure was only $40.6 million.
The company earned a net income of $11.1 million in the first quarter of 2008, compared with $31.5 million in the first quarter of 2007.
Smith said the layoffs took place within the past two weeks, and that no more were planned. The state Department of Labor and Economic Development Web site reports the company also announced the layoff of 21 employees in the northern Upper Peninsula town of Hancock in April.
Contact Dan Meisler at 734-302-1721 or by e-mail at danm@mbusinessreview.com.
I am sorry I didn’t sell this stock several months ago. I liked the dividend checks so hung in there, now no more dividends. Originally I had stock from a local bank that was bought out by F & M. Since Citizens bought it out it is a bummer. Now I don’t know what to do. Soon it will be worth nothing! I am disgusted. Bank stocks are not doing well, but this!!

mlive.com

MEMPHIS, TN - The puppy who was stabbed, beaten, spray-painted, and left for dead in a North Memphis driveway is recovering. Veterinarians say "Mac" is still in critical condition, but is stable. Mac is in a special chamber at Gentle Care Animal Hospital in Raleigh - a chamber designed to help him breathe.
Although Mac is recovering, Humane Society investigators say police are not doing much to help find out who hurt Mac. Eyewitness News Everywhere spoke with an investigator who said there are two persons of interest in the case, and that officers are following up on leads. However, no one has been arrested yet.
"He had extensive injury to his chest, bleeding to his lungs, and probably maybe even spinal injuries also," said animal cruelty investigator Calvin Walker.
Walker went to the North Memphis neighborhood, where two girls found Mac fighting for his life, to interview people about the case. Walker says he is the only investigator assigned to animal cruelty cases in Shelby County. He says when Mac was found, a Memphis police officer came to the scene, but says to his knowledge, no report was filed.
"I don’t know if there’s any paperwork done for it…" Walker said. "I’m in the process of trying to find out who was the officer on the scene."
Walker believes police need to be involved because he feels the attack on Mac could be gang-related. He and Humane Society Executive Director Ginger Morgan say they hope police will do more to stop animal abuse.
"I think they’re investigating murders, robbers, and armed robberies and all the things they are working on. They’re probably short-staffed, and animal cruelty isn’t on their list. But I think it should be," Morgan said.
Veterinarians say Mac is hooked to an IV, but he may never walk again.

myeyewitnessnews.com

With four days left before Saturday’s election, Ma Ying-jeou,candidate from Taiwan’s largest opposition party the ChineseNationalist Party (KMT), leads his rival Frank Hsieh from the rulingDemocratic Party (DPP) by 10-20 percentage points, due to Ma’s pledgeto fully open trade ties with China.
Hsieh’s warnings about China’s military ambition and the danger ofTaiwan suffering the fate of Tibet is being ignored - or evenridiculed - by many Taiwanese.
‘The slacking of their vigilance is shocking,’ a foreign diplomatsaid.
‘Twenty years ago, if you mention unification to a Taiwanese, hewould shut you up by saying ‘China is like an ocean and Taiwan islike a drop of blue ink. If a drop of ink falls into the ocean, whatwill happen? The ink will disappear.’ the diplomat said. ‘But todayyou don’t hear that any more. Most people complain life is hard andTaiwan must open itself to China.’
With the result of the election almost certain, some scholars havealso expressed worry that Taiwan may have to sacrifice itssovereignty in pursuing economic integrity with China.
‘In an election, one should consider national dignity and people’slivelihood. But when our economy is down, sometimes national dignityis sacrificed,’ Lin Chung-pin, a China expert at the TamkangUniversity, said on cable TV channel TVBS.
Yu Mu-ming, chairman of the New Party, also voiced concern aboutTaiwan voters’ focusing on livelihood rather than nationalsovereignty.
‘In this election, one candidate stresses livelihood and theother candidate emphasizes (national) survival,’ he said in a TVinterview.
Opinion polls in recent months showed that Ma leads Hsieh byabout 20 percentage points, but Hsieh claimed his gap with Ma is only5-6 percentage points.
The DPP, made up of mostly Taiwan natives, favours independence,while the KMT used to back eventual Taiwan-China unification, but hassoftened its stance to advocate only peace and economic integrationwith China.
In his campaign speeches, Ma has promised that if he wins thepresidency, he would open trade ties and sea/air links with China,launch a common market and allow Chinese tourists to visit theisland.

news.monstersandcritics.com

Seven months after the School Board vowed to find more planning time for elementary school teachers, an education group has said there are few changes on the ground.
While their students bounce basketballs in the gym, pummel drums in music or paint watercolors in art class, elementary school teachers get a few precious minutes to plan. Teachers have about 40 minutes a day to prepare lessons, make copies, meet with other teachers, talk to parents and hear from principals.
"It’s a lot to do," said School Board member Em Davis, a former Beach teacher and administrator. "Most teachers stay around till 4, 4:30, 6."
At their August retreat, board members agreed that elementary teachers have too much on their plates. Middle and high school teachers get more planning time. The board approved a goal that calls for 90 percent of teachers to report by June 30 that their principals had put strategies in place to improve their workday.
Diane Rainier, a first-grade teacher at Fairfield Elementary, stays at school to plan until 10 p.m. several nights a week. Although her principal hires a substitute once a month so she can plan with other first-grade teachers, "in the total package of what I have to do, it’s a speck in the bucket full of sand."
The association that represents Beach teachers said many teachers aren’t seeing changes quickly enough.
"Not a whole lot has changed," said Iva Nash, president of the Virginia Beach Education Association. Nash held a series of focus groups about time with teachers from the elementary schools at the end of January and brought the results to the board at the end of February.
Teachers said that while some meetings have been eliminated, other responsibilities have been added.
"When you go into teaching, everybody knows you’ll be grading papers at night," Nash said. "While you’re having meetings with administrators from downtown, which child is not being prepared for? What’s not getting done?"

hamptonroads.com

A Cuban import
Roman Valdes, 46, who was born in Cuba and settled with his family in Freeport in 1974, is a true romantic, a missionary of beauty who preaches his aesthetic gospel to adults and children alike. His theater is a dream world, a handcrafted rejoinder to the grim environment outside its walls and to the phoniness he perceives in American culture.
“In today’s world,” he explains, “Disney is the main storyteller for children. But they focus on the magic - on wands and spells. I concentrate on what I believe, and, because I’m Latin, I believe that the most powerful magic is love. Our love for each other created this little puppet theater.”
Valdes gestures toward his wife, muse and business partner, a native of Bulgaria 13 years his senior whom he appears to adore to distraction. When their paths first crossed, he had been painting for 20 years in a lonely studio in his parents’ home. Eliza was employed as a feng-shui consultant, an astrologist, and a macrobiotic counselor. Their meeting took place at the Borders bookstore in Levittown, where Roman was lecturing on children’s art education and Eliza, a recent widow, was browsing with some friends.
“I saw her pass by and I said, ‘That’s her, the one I’ve been waiting for.’” It took Eliza a little longer to perceive their joint destiny.
“I didn’t want to marry him,” she says. “I thought I was done with marriage - who needs it?”
But his steadfastness eventually won her over, and they were wed in Paris. It was on their honeymoon, while strolling through the Luxembourg Gardens, that they wandered into the famous puppet theater, and inspiration hit. Roman suggested that they open a similar venue on Long Island and Liza, transported by his enthusiasm, agreed.
“The crazy one is not as crazy as the one who helps the crazy one,” she muses.
It happened in Hicksville
As soon as they got back to the United States, they started searching for the perfect venue, settling on an old garage in Hicksville, which they gutted and redesigned to their idiosyncratic specifications.
“I liked the name of Hicksville - it’s like nothing,” Valdes remarks. “And I thought, ‘Where there’s nothing, we’re going to build something.’” The dream world they constructed reflects their infatuation with drama and fantasy.
That shared passion is reflected in their self-presentation. The lithe Roman dresses in black, and slicks back his dark brilliantined hair like a tango dancer’s. Eliza, too, favors black, as well as a cloudlike teased bouffant and round glasses studded with purple rhinestones.
Roman has painted a profusion of odes to Eliza’s buxom form. “I still paint, but since I got married to my wife, I only paint her, over and over again.” One of these portraits hangs by the entrance to the theater. Awash with a rainbow of color, it shows her decked out as an 18th century aristocrat, with a feathered chapeau and deep décolletage.
The 10-year-old theater has gradually grown and changed with the Valdes’ ever-expanding interests. Once decorated as a paradisiacal glade, it has been metamorphosing into a fanciful circus.
The puppet collection continues to expand, and Valdes replaced the stage he lovingly built out of recycled wood. “We’re always changing the decor, because it is a children’s place. I don’t want to show puppets for their own sakes. I want it to be a place of fantasy.”
But the couple may have run out of room and rope on Long Island. Right now, $10 buys admission to this palace of illusion and to a live show created by fanatically committed performers. The Valdeses don’t want to raise their fees for fear of excluding poorer customers. And while obtaining nonprofit status - which they say they plan to do at some point - would lower their tax bill, that’s not enough to keep this place of joy from fomenting worries.
“Life has become very expensive here,” says Valdes. “The theater is doing well, but it costs a lot to run. If we want to expand, we can’t do it here.”
And so, they say, before too long, they may give up their incongruous Long Island jewel box for a new, larger puppet theater and museum - somewhere in the Carolinas.
WHEN&WHERE: The Long Island Puppet Theatre and Museum, 10 Heitz Place, Hicksville, is open Fridays to Sundays; for schedules and prices, call 516-932-5469 or visit lipuppet.com.

newsday.com

Josh Ahearn says he's optimistic about 2008. Well, cautiously optimistic.
And that "cautiously" plucky spirit is pretty remarkable, considering that his business - the family-owned Ahearn Equipment in Spencer - is tied very closely to the housing market, which is definitely in a slowdown.
Ahearn Equipment was founded by Tim and Donna Ahearn 30 years ago. While Ahearn Equipment got its start catering to the region's agricultural sector, that business just "doesn't exist anymore," according to Josh. Today, the business - run out of its recently expanded Route 9 location - is mostly direct to consumer, or the average guy (and increasingly average gal) looking for a small tractor to mow the backyard.
For that reason, the store's digs are surprisingly bright and shiny for a heavy equipment dealer. Its selling space is more like a high-end car dealership than a dingy industrial warehouse.
The remaining part of the company's business, about 40 percent, is commercial - selling to towns, colleges, schools, private contractors and landscapers.
Not surprisingly, Ahearn Equipment's commercial side of the house has seen a decline because of the slowdown in the housing market.
Bucking The Trend
Most of Ahearn Equipment's customers in the housing sector are small single-family home builders who employ at the most four or five people. It's those builders, Josh said, that are being most affected by the housing slump.
"We grew last year, which was contradictory to the trend in our industry, which has been way down overall," he said.
But that growth - only 5 percent - is a significant decline from the 10 to 15 percent annual revenue increases the company had seen for the last five years.
"I think people are much more tentative and conservative with their money than in past years," he said, adding that the products that Ahearn Equipment sells aren't necessity items like a loaf of bread. As a result, people can put off buying a new tractor in favor of milking the old lawnmower for all its worth.
The economic slowdown has "affected our entire product line," according to Josh. But Ahearn Equipment is still projecting a revenue increase for 2008. To get there, the company is planning to do more aggressive marketing. Ahearn Equipment, he said, already does a good deal of radio advertising, but he said the company plans to do even more and expand its radius out to the state's capital.
"We're realizing there's a pretty large untapped market" out towards Boston, he said.
So, at the end of the day, Josh can't helped but be affected by the news reports of economic doom and gloom. But he keeps a positive outlook.
"We still look at it as an opportunity to grow and to gain market share," he said.

wbjournal.com