Market Digest

Patriots and Giants fans who are planning a spur-of-the-moment last-minute trip to Indianapolis for the Super Bowl are going to be paying big bucks (upwards of $2000 according to ticket brokers) for not just tickets. A survey from Cheaphotels.org has revealed that they’ll also be spending major money for a hotel room unless they are willing to endure a long drive home after the game.

In center city Indianapolis where the football showdown will take place on February 5, hotels are completely sold out. This situation has opened the door for accommodations in the outside neighborhoods to exorbitantly hike their rates on the limited few remaining hotel rooms that are still available.

For example, at the America’s Best Value Inn, which is located in the East Indianapolis neighborhood, a room that regularly goes for $66 per night has been jacked up to $990 Super Bowl weekend. That figure represents a 1400% cost increase. Read the rest of this entry »

Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies, announced that it provided $8.5 million in senior debt to affiliates of Benchmark Healthcare.

The financing package included a $7.5 million senior secured term loan and a $1 million revolving line of credit. Proceeds of the term loan are being used to refinance existing debt and fund capital improvements at the company’s skilled nursing facilities.  The revolving line of credit is being used for working capital. Creative Health Capital served as financial advisor to Benchmark.

“Oxford is pleased to provide financial support to Benchmark,” said Christopher A. Herr, managing director for Oxford Finance. “The company has an experienced management team with a longstanding reputation for providing quality skilled nursing services in the Midwest and Southeast.”

“Oxford was a pleasure to work with throughout this process.  Once our financing needs were identified, Oxford presented a solution that worked well for both Benchmark and Oxford,” said John M. Sells, president and chief executive officer of Benchmark.  “We could tell from the start that the Oxford/Benchmark relationship was more of a partnership than the typical financing relationship.”

U.S. industrial manufacturers expect continued domestic and international growth in 2012, although forecasts have fallen below 2011 actual growth rates, according to the findings of the Q4 2011 Manufacturing Barometer releasedby PwC US.

While uncertainty still prevails and own-company revenue expectations have moderated, optimism about the worldwide economy rose in the fourth quarter of 2011, including a notable improvement in sentiment regarding prospects for the U.S., as compared to an all-time low in domestic sentiment in the third quarter of 2011.

In addition, U.S. industrial manufacturers continue to forecast increased investment spending in the year ahead, including major outlays in operational spending.  Plans for merger and acquisition (M&A)activity also increased, and there was significant emphasis on expansion into new markets.

Optimism regarding the prospects of the U.S. economy over the next 12 months rose to 30 percent in the fourth quarter of 2011 – up from only 5 percent in the third quarter of 2011 – and 28 percent of respondents believe that the U.S. economy grew in 4Q 2011, up 21 points from the prior quarter. However, the majority of respondents, 57 percent, remain uncertain, rather than outright pessimistic.  Among U.S. industrial companies operating abroad, uncertainty also remains high at 64 percent, with 36 percent believing that the world economy is declining and 48 percent reporting that they saw no change.  However, 16 percent of respondents marketing abroad view the world economy as growing in the fourth quarter of 2011, up 9 points from the prior quarter.  Read the rest of this entry »

During the State of the Union, President Obama highlighted the importance of partnerships between businesses and community colleges to help improve the skills of America’s workers.

This partnership model is the core mission of Skills for America’s Future, a public-private initiative of the Aspen Institute that is working to connect employers with community colleges to address the current talent mismatch and better train workers for employment.

With the announcement of a national commitment to train two million Americans with skills that will lead directly to a job and the promise to give community colleges the resources needed to become “community career centers,” the president showed that the efforts of Skills for America’s Future will play a key role in reforming how America’s workforce is trained.

“Skills for America’s Future commends President Obama for continuing to focus on improving skills and for his recognition of community colleges as a valuable resource to develop a skilled workforce, making education and job training attainable and valuable objectives,” said Penny Pritzker, Advisory Board Chair of Skills for America’s Future, the Aspen Institute. “By driving innovative workforce development efforts, facilitating effective public-private partnerships, and building a national network of leaders from businesses, community colleges, and industry associations, Skills for America’s Future is working to reform workforce development in America, and we are excited to have this model highlighted.”  Read the rest of this entry »