June-Marie Raw Food Health and Fitness misc videos 006 – Video
Posted: February 23, 2012 at 2:09 pm
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Basic Fitness Concepts – Essential Health And Fitness Part 2 By Mr.Amit Talekar – Video
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June Marie Raw Food Health and Fitness misc videos 013 – Video
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June Marie Raw Food Health and Fitness misc videos 013 - Video
June-Marie Raw Food Health and Fitness misc videos 014 – Video
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June-Marie Raw Food Health and Fitness misc videos 014 - Video
The BOOTY Bible is HERE! Get it NOW at Amazon.com, Barnes and Noble, etc – Video
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The BOOTY Bible is HERE! Get it NOW at Amazon.com, Barnes and Noble, etc - Video
Basic Fitness Concepts – Essential Health And Fitness Part 3 By Mr.Amit Talekar – Video
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Basic Fitness Concepts - Essential Health And Fitness Part 3 By Mr.Amit Talekar - Video
Genesis Health and Fitness clients putting in the work to achieve – Video
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Genesis Health and Fitness clients putting in the work to achieve - Video
Baby Boomers and Health – Video
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Baby Boomers and Health - Video
Clock ticking on troubled Premier Fitness health chain
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A court-appointed receiver has walked away from the effort to restructure the troubled Premier Fitness health club chain.
At its most dire, the move would mean members see some or all of the chain’s 30 clubs, including six in Hamilton-Burlington, padlocked as early as Saturday morning.
The clubs are protected by court order until 11:59 p.m. Friday. After that, creditors could force a bankruptcy if frantic negotiations haven’t resulted in a restructuring or sale.
Premier was forced into receivership earlier this month after a major creditor demanded repayment of $38 million in defaulted loans.
Mark Chow of BDO Canada said his company walked away after Premier’s bank refused to give it access to bank accounts to continue operating the business.
“Our goal was to maintain the operation but that requires money and right about when we took over the decision was made that there would be no further money to operate the clubs through the receiver,” he said. “The only choices we could see were to shut it down or turn it back to the former owners and see if the guys could work out a deal.”
Court documents show Premier is in deep financial trouble. BDO’s cash flow projections predicted Premier needs about $890,000 more than it will bring in to meet its obligations. Debts include $47 million owed to equipment leasing companies — the bulk of that to Toronto-based DSM Leasing Ltd.; almost $6 million to the Canada Revenue Agency; $78,000 in unpaid hydro bills; more than $1 million in rent arrears and $1 million in unpaid wages for December and January. Insurance policies were also cancelled.
The receiver reported: “Fees being generated from club memberships are not sufficient to pay obligations as they become due.”
Some of those bills were paid during the two weeks BDO and Physiomed Inc. ran the business but the efforts were hobbled by Premier’s refusal to turn over full financial details of its operations.
In court documents DSM said it had not been paid since September 2011 and asked for a receiver because it had serious fears about the future of Premier.
As the situation worsened, DSM president David Young said in an affidavit, he had “frank discussions” with Premier founder John Cardillo about the need to restructure the business. Eventually a plan was conceived to sell the company to Physiomed founder Scott Wilson, a Toronto chiropractor who operates a chain of health clinics in many of the Premier clubs.
The sale of the clubs was announced to members late in December, but was never completed after Physiomed balked at paying more of Premier’s arrears until ownership of the assets was transferred.
Physiomed is said to still be interested in concluding the purchase of the chain and is actively involved in restructuring negotiations.
In a court filing, Cardillo opposed the appointment of a receiver because the publicity around such a move “would cause great damage to the business through the loss of membership and sales to members.
“There has always been a premium upon doing the proposed transaction quietly and away from adverse publicity. Much of the Premier Group’s financial difficulties arose as a result of adverse press and the game plan from the beginning of the discussions between DSM, Wilson and myself focused on how to have a smooth, seamless transaction,” he added.
(Premier’s business practices were the subject of a Hamilton Spectator investigative series in 2004.)
Cardillo also alleged the sale to Physiomed foundered because Wilson and Young were trying to get around clauses in the deal that preserved a portion of the company for Cardillo’s young children in exchange for Cardillo’s “guidance” of the new company.
“Wilson agreed that a company owned by my family would receive a significant percentage of the ownership” in Wilson’s companies, Cardillo said. “Wilson and I have had a falling out and I believe he no longer wishes that my family has these participation rights.”
Cardillo added he first decided to sell Premier after being diagnosed with a life-threatening cancer, a scare that “prevented me from devoting the time and effort to management of the companies that I had traditionally done with the result that the performance of the business lagged.”
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Clock ticking on troubled Premier Fitness health chain
Coalition continues work toward health, recreation center
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By Kate Hessling
Assistant News Editor
BAD AXE — The organizer of a proposed multi-million dollar health and recreation center recently told the Tribune that project still is very much alive.
“Even in the face of enormous difficulty, this project is doable and viable,” said Harcharan (Harry) S. Suri, president of the Health and Recreation Center Coalition, which was formed in November 2007 to spearhead the planning, development, construction and operation of a multi-purpose facility in Bad Axe.
Preliminary architectural renderings Suri gave the Tribune last week show the facility could include an indoor pool, ice arena, fitness center, banquet and conference center, arcade, cafe, outdoor splash park, a teen area and area for senior citizens, and wellness center. Preliminary estimates indicated the facility could cost between $15 to $20 million.
From the start, the coalition has insisted it will seek funds to build the center from corporate, private and public foundations and state and federal government agencies. Today, that’s still the case, as Suri stressed the coalition is not looking for funds from the county or local units of government.
The coalition still is looking at building the facility on county-owned land it’s been leasing.
The agreement was outlined in a resolution the Huron County Board of Commissioners approved in May 2009. Per the agreement, the coalition leases the 37-acre parcel on Thomas Road off M-53 in Colfax Township for $10 an acre, or $370 annually during the five years it’s being reserved for the design and construction of a health and recreation facility.
The resolution also includes a schedule of funds that have to be raised each year in order for the agreement to continue. At this time, the coalition has raised $128,000, which is behind the schedule established in the resolution. Over the past two weeks, county commissioners have discussed amending the schedule outlined in that resolution, but no formal action has been taken.
Suri said fundraising has been difficult primarily because of the economic environment. In fact, the coalition delayed conducting a countywide community interest survey in 2008 because of the economy, he said. The survey was conducted in 2009, and of the responses it received, the majority were positive and helped show the coalition what the community wants and is willing to pay for, Suri said.
Since the survey was completed, the coalition has hired Sidock Group Inc. and Rink Management Services Corp. to produce detailed engineering and financial plans that include a five-year operating budget. Suri said the plans have to be detailed, and show donors that this is a credible project and can operate on its own. That’s why it’s being prepared by third parties who are experts in these kinds of facilities, he said.
“It’s going to be a plan that can withstand detailed scrutiny,” he said.
Suri said the coalition expects the plans will be finished later this spring and posted online at http://www.myhealthandreccenter.org.
Once that’s done, the coalition will be able to concentrate 100 percent on raising funds, Suri said.
Getting donors is not an easy task, but Suri said he will continue to work no matter how long it takes to make the project a reality.
Support and partnership will go a long way toward making this project succeed, Suri said. That’s why he favors working with the county and hockey association toward building the recreation center because it would include an ice rink.
He explained that historically, people have attempted to build and operate recreation facilities that offer limited services on a relatively small scale. They were not viable because they couldn’t attract a large enough membership. The center, he said, offers a sufficient variety of health and recreation services to attract a broad spectrum of county residents with different interests and needs.
“Shopping malls are attractive because they allow the customer to fulfill a variety of shopping needs in one place and also because they have spaces conducive to socializing. The coalition’s preliminary surveys suggest that a multi-purpose center designed to provide one-stop-shopping for health and recreation, as well as a gathering place for Huron County’s citizens, will be similarly attractive,” according to information from the coalition. “The multi-purpose center, by its broad appeal, and as essentially ‘the only game in Huron County,’ is expected to attract and maintain a high membership count.”
The coalition estimates the average household income in Huron County suggests an affordable daily fee for services would be above the cost of coffee for a day ($1.15) or about $35 per month.
During Tuesday’s Huron County Board of Commissioners meeting of the whole, Chairman Clark Elftman said he wants Suri to put his expertise and energy behind helping obtain funding for the Huron County Hockey Association and Huron County SafePlace.
Specifically, he wanted a consensus from the board as to whether it believes Suri should use his expertise to help with efforts to build a new ice arena. After it was clarified that Elftman wants Suri to help with those other efforts in addition to his plan for the recreation facility, the rest of the board concurred.
Kate Hessling • (989) 269-6461 • khessling@hearstnp.com
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Coalition continues work toward health, recreation center