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Recycling bins too small, say businesses

Remuera, Parnell and Newmarket business associations are upset over new wheelie bins for recyclables, saying they are too small to take away bulky cardboard.

The Auckland City Council introduced new 240-litre recycling bins for households and businesses this month. At the same time, businesses were banned from putting out lose rubbish, such as cardboard, on the kerbside as part of a clean-street policy.

Remuera Business Association manager Victoria McArthur said the businesses could request a second bin for $60 a year, but it was still not enough for many businesses.

The association suggested a weekly kerbside collection between the close of business and 7pm or an alley-service collection where businesses could stack cardboard and paper. The council found the suggestions unacceptable, she said. more

Mercury Computer Systems Reports Fourth Quarter and Fiscal Year

In the fourth quarter, Mercury's subsidiary, Visage Imaging(R), sold its Embedded Systems and Professional Services businesses. All historical statements have been adjusted to reflect the sale of these businesses as a discontinued operation.

Fourth quarter revenues were $55.2 million, down 5% from the prior year's fourth quarter and approximately flat with the third quarter of the current fiscal year.

Fourth quarter GAAP operating losses were $21.0 million. These losses include $18.0 million in goodwill impairment charges relating to our Visage Imaging and Avionics and Unmanned Systems Group (AUSG) businesses, and a $3.2 million gain relating to the sale of our AUSG intellectual property and inventory. Fourth quarter GAAP net losses from continuing operations were $19.5 million. more

Economic Boost In Springs' Businesses

Business is expected to boom for restaurants surrounding the Broadmoor. Panera Bread, On The Border and the Outback Steakhouse all anticipate an increase in sales. "We're expected a 15% increase in business this week," said Cassandra Robinson, General Manger of Panera Bread.

Dining establishments have been preparing for the big week for months. Mike Peebles, manager of On The Border, says, "Normally on a standard weekend we'll have 10 servers per shift, this weekend we'll have 14 to 15 per shift."

The same goes for hotels in the area. Most are already 90 to 100% full.

Even the local Aviation Industry that brings in visitors from as far away as Scotland is seeing a significant rise. Jessica Scudder, manager of Cutter Aviation, says they've been getting a significant amount of aircraft traffic. more

Promoters' stakes go up in 300 cos

MUMBAI: A choppy market has given promoters a good opportunity to consolidate holdings in several companies. Taking advantage of beaten down valuations, they have hiked stakes either through open market stock purchase or other routes during the last quarter.

According to shareholding details released to stock exchanges, promoter holding has gone up in almost 300 companies in the April-June quarter.

The number is likely to rise as more companies share the data in the next two weeks. A few companies, from leading business houses like Tata, Reliance, Birla and Bajaj, saw a marginal rise in promoter holding.

This can be attributed to various reasons like creeping acquisition, conversion of warrants, placement of fresh equity or rights issue renunciation. more

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