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I have always had trouble delegating. Even as a manager in corporate America, I had a tendency to do all my work myself — everything from scheduling meetings, to reserving conference rooms, to ordering lunch for guests and sending faxes. I was convinced I was the best person to complete these tasks.

That tendency continued when I started my own marketing agency and hired a couple of interns. Rarely could they get the work done as quickly or as thoroughly as I could, so, too often, I kept it for myself.

As you might expect with only one person working at capacity — me — my firm quickly hit a revenue ceiling. Everything I was able to do myself, I did. It was only when I encountered a need for a website, which I had no idea how to design and create, that I was forced hand over a key task.

And after witnessing how much could be done by someone else, I did a complete about-face. I began looking for opportunities to delegate and outsource.

Buoyed by Tim Ferriss’ recommendation of low-cost help in his bestselling The 4-Hour Workweek, I turned to Brickwork India, in Bangalore, for some market research. I wanted to know how large a particular industry was to help me determine if it was worth targeting. But since this was a not yet a revenue-generating concern, I also wanted to keep my costs as low as possible. Hiring Bain or the Boston Consulting Group was not an option.

I have a virtual assistant in Texas (I’m in New York) who handles much of my Web work, at $50 an hour, but this project required a different skill-set. I had already spent a few hours of my time conducting my own top-line investigation and came up short. So when Ferriss indicated that Brickwork charges as little as $15 an hour, I decided to test them out.

I went to the company’s website and completed an initial Request for Information form identifying myself and the specific tasks I needed a Brickwork analyst to perform. Based on that input, I received a quote for a block of 10 hours of work in the next 30 days. The cost was $140. Total. I was more than willing to risk $14 an hour on this experiment.

The next step was setting up my Brickwork account, which took a matter of minutes, and paying the $140 via credit card. I received an introductory e-mail from my senior executive assistant the next afternoon, the start of their work day. I would have liked to have been able to request a particular worker, since a colleague had recommended a talented researcher there, but there was no opportunity to request anyone specific during the sign-up quick guaranteed personal loans.

Unsure of whether I should immediately hand off this important research project, I started with a softball task — compile a list of associations and organizations for writers in the U.S. Within a matter of hours, I had a spreadsheet listing 15 such organizations, their corresponding locations and number of members. Given that I could rattle off close to a dozen writers’ associations off the top of my head, I was a bit disappointed it took my executive assistant two hours to come up with 15. I was fairly certain there were more, but the information I received was well-organized.

So I forged ahead and with eight hours remaining on my credit I asked for help in finding the size of the ghostwriting industry. Mindful that more than eight hours could be spent with little to show for it, I set a cap of two hours. Those two hours were quickly gone and, in exchange, I received a list of four small companies that compete in that market. Not exactly what I was after. And then there were six hours left.

We spent some time going back and forth, as I tried to clarify exactly what I needed while also trying to assess whether there was any chance I would actually get it. Looking back, I should have picked up the phone and spent five minute making sure my assistant truly understood what I wanted, but e-mail was so much more convenient; I had her phone number but didn’t use it.

From the tasks I assigned and the deliverables I received, it slowly became clear that Brickwork was awesome at tracking down information with a single known value. For example, if you wanted to know how many babies were born last year worldwide, I’m sure my executive assistant could have found that fact. But ask for information that requires some primary research or deductive reasoning and you’ll burn through several hours just explaining what you’re after, information-wise. Alas, my industry research task falls into the latter category.

At such a low hourly rate and with the flexibility to hire a Brickworker on a whim, I may turn to them for administrative help in the future. But only when the data I need is well-defined and finite. 

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Let’s be honest, academic types are known for many things. Efficiency is not the first that comes to mind.

That is unless they work at Southern Methodist University, which University Business magazine is recognizing as a “Model of Efficiency” in streamlining its business operations.

To be exact, the magazine is recognizing the university’s efforts to do away with hard copy postings for jobs internships. Instead, the university is replacing the process with an online program called SaddleUp that allows students and alumni to connect with employers online.

University Business magazine chooses stellar programs using its Higher One’s ‘Models of Efficiency’ program that identifies schools that find innovative and cost-effective ways to manage business operations No teletrak payday loan.

SMU caught the magazine's eye since the university’s Hegi Career Center used to have to post jobs and internships manually on its Web site. Employees there also had to make photocopies of each job for distribution. When the school purchased new software, they were then able to allow students to self-register online and search for jobs without the extra paperwork. Because of this change, the wait time for job postings has been reduced from six weeks to six hours.

No other Texas universities ranked on the “Model of Efficiency” list.

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Universal Orlando announced Aug. 6 that it is raising its one-day, one-park admission to $82 from $79, just a day after theme park-competitor Walt Disney World raised its prices on Aug.5.

In addition, many of the park’s other ticket options have received a $5 increase, except for the two-day, park-to-park ticket, which remains unchanged at $145. The Florida resident online specials remain unchanged. All price changes are effective Aug. 7.

The company’s goal is to continue to deliver high-end entertainment at a great value, “while keeping an eye on the marketplace,” said Tom Schroder, a Universal Orlando spokesman.

This marks the fifth consecutive year Universal and Disney have bumped up ticket costs.

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The parent company of First Community Bank said Monday that its stock was being delisted by NASDAQ, effective at the open of business Wednesday.

First State Bancorp (NASDAQ: FSNM ) made the announcement in a filing with the U.S. Securities and Exchange Commission.

The stock closed at 36 cents per share Monday.

First Community lost $25.7 million in the first quarter, $110.5 million in 2009, and $153 million in 2008. It has been trying to raise capital to boost its reserves.

First Community President and CEO Pat Dee said the delisting was “another little bump in the road” for the bank, which has been under a regulatory order from the Federal Reserve Bank since the summer of 2009.

“The good news for our shareholders is that they can continue to trade the shares on the over-the-counter market,” Dee said. “This will not affect the day-to-day operations of the bank.”

The bank announced earlier this month that it had ended an unsuccessful effort to buy back $95 million in trust preferred securities at 15 cents on the dollar Internet Payday loans. The bank holding company announced June 9 that it was attempting to buy back the securities in an effort to rid itself of debt and recapitalize the bank.

The securities, bought by investors between 2002 and 2007, were used to capitalize the bank. The repurchase offer ended at 5 p.m. July 7.

In May, First State revised its first quarter financial statements to add $10 million to its loan loss reserves. That move dropped First Community’s ratio of total capital to risk-weighted assets to 7.53 percent, which put the bank into the undercapitalized category for federal regulatory purposes.

First Community is New Mexico’s third largest bank, with $2.7 billion in assets.

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The drugmaking arm of Johnson & Johnson said late Thursday that it is laying off hundreds of workers at the manufacturing plant at the center of a recall of millions of units of children’s Tylenol, Motrin and other over-the-counter drugs.

Johnson & Johnson’s (JNJ, Fortune 500) McNeil Consumer Healthcare division said 300 of more than 400 positions at the Fort Washington, PA facility will be eliminated as the company conducts a complete quality overhaul at the facility.

McNeil halted all production at the Fort Washington plant in early May this year after it recalled about 135 million bottles of children’s and infant’s Motrin, Tylenol, Benadryl and Zyrtec drugs made at the plant, due to quality concerns. The facility is the company’s only plant that makes its liquid pediatric non-prescription drugs.

McNeil is also currently under investigation by the Food and Drug Administration and lawmakers over a string of recalls of its products over the past year, including the latest recall of children’s drugs.

McNeil, which submitted what it called its "comprehensive action plan on quality improvement" for the Fort Washington plant to the FDA on Thursday, also said it will make a "significant investment in re-fitting its Fort Washington manufacturing facility with new equipment, and will reorganize the plant’s operations." As a result, the company anticipates that the plant will be out of service for a "protracted period of time."

The company said it is taking steps to expedite production of many of the products that were previously produced at Fort Washington by utilizing other Johnson & Johnson plants.

However, McNeil had previously announced that most of the products made at the Fort Washington plant will not be available in stores before the end of the year. 

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State Treasurer Dean Martin has pulled out of the race for governor of Arizona and will support Gov. Jan Brewer in her re-election bid.

Martin said in a release that he didn’t want the primary race for governor to be a “distraction,” in a time when “serious debate about the fiscal condition of our state is needed.”

Martin’s term will end in December, and he said at that time he will take some “much-needed time off.”

The full text of Martin’s letter is below:

It has been an honor to serve the people of Arizona. Public service takes dedication and many long hours to accomplish the business of the people who elected us. I am humbled to have had the support of the people for these past 10 years.

Elected office was never my intended career path; I am a small business owner who was drafted to run for the Arizona State Senate and then later Arizona State Treasurer. I am proud of my service and I am forever grateful for the support you have given me over the years. I especially want to thank my friends and colleagues who stood by my side last year during the tragic death of my wife Kerry and my son Austin. I will never forget your support.

Today, I am announcing that I am suspending my campaign for Governor of Arizona. During a time when the Obama Administration has filed a frivolous lawsuit against our great state, a budget deficit is looming, and our economy is still shaky, I feel a contested primary would be a distraction. While a serious debate about the fiscal condition of our state is needed, the heavy hand of the Obama Administration will not allow this debate to continue. I fully intend to support the Governor in her battle with the Obama Administration and its relentless attack on the people of Arizona.

In that regard, I urge the Governor to file suit against the Federal Government for the costs of not securing our border no checking account payday advance. Earlier this year I sent former Arizona Governor and now Homeland Security Secretary Janet Napolitano a bill for one billion dollars of uncompensated costs due to incarceration of illegal immigrants who have committed felonies in Arizona. This is a good start and trust the Governor will follow through. As a state we need to stand together to fight the overreaching federal government that has failed to secure our border with Mexico.

I want to thank the countless volunteers who have been part of this campaign since January. Their dedication to the campaign and Arizona is second to none. But our state and the residents of Arizona are more important than playing politics. The Obama Administration’s lawsuit is a blatant attempt to divide us and I will not be part of the problem; rather I intend to be part of the solution. Attorney General Terry Goddard, is not willing to enforce our laws and is instead playing the role as Obama-defender-in-chief. I got into this race because I did not want to see Goddard become Governor. This is still my goal, and is the reason I have made this decision to suspend my campaign.

Governor Brewer is going to need all our help to shoulder the burden of defending Arizona from the federal government. It is our duty to stand together as Arizona residents against an intrusive federal bureaucracy.

While my service to this state as an elected official will come to an end in December, I will continue to serve in other ways. After taking some much needed time off, I will be focusing my efforts on the charitable foundation we established, MartinCharities.org to continue my late wife Kerry’s spirit of service to the community in water safety and financial literacy.

Thank-you and God Bless the great State of Arizona.

Dean Martin

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Luby’s Inc. has agreed to buy substantially all the assets of bankrupt Fuddruckers Inc. for $61 million in cash.

Houston-based Luby’s (NYSE: LUB) will also assume Fuddruckers’ obligations, real estate leases and contract and will pay an additional $2.45 million in cash if it does not assume certain specified contracts. Luby’s will also buy Fuddruckers’ Magic Brands LLC.

Austin-based Fuddruckers filed for Chapter 11 bankruptcy protection on April 21. Luby’s participated in an auction and won the right to buy substantially all of Fuddruckers’ assets on June 17. The sale to Luby’s remains subject to the U.S. Bankruptcy Court for the District of Delaware. The Bankruptcy Court has scheduled a final hearing on the sale of assets on June 22. If approved by the court, the transaction should close on or about July 9.

Luby’s has 96 restaurants that serve home-style food. Luby’s has 10 restaurants in San Antonio.

Fuddruckers currently operates 60 Fuddruckers restaurants and three Koo-Koo-Roo locations. Franchisees currently operate another 138 Fuddruckers locations, which are not included in the purchase. Fuddruckers has four corporate owned restaurants in San Antonio.

Both restaurant concepts were founded in San Antonio but their corporate headquarters have long since moved elsewhere in Texas. Luby's was founded in San Antonio in 1947. Fuddruckers was founded in San Antonio in 1980.

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BP’s U.S. shares rallied Thursday after the London-based company said "is not aware of any reason" for a 16% plunge in the shares the day before.

On Day 52 of the Gulf oil spill, BP (BP) issued a statement saying it "faces this situation as a strong company" and it will "continue to keep the market fully informed of further developments."

BP said it is "generating significant cash flow" and has a "strong and valuable" oil reserve, both of which will help it survive the response to the spill.

The statement helped push BP’s U.S. shares up 12.3% to close at $32.78, but its London stock closed more than 6.7% lower.

BP’s shares tumbled $5.48 to $29.20 Wednesday on volume nine times above normal. The drop came amid some speculation about the company’s future — in a Fortune interview, oil analyst Matt Simmons said BP’s "lawsuits, cleanup and other expenses" will force the company into bankruptcy within the month.

It’s been more than seven weeks since the Deepwater Horizon rig exploded, killing 11 people and causing the oil spill.

On April 19, the day before the disaster, BP shares closed at $58.86. Since that time the stock has plunged by 50.4%.

Below book value: Even with Thursday’s surge, BP shares are still trading below their book value, an important metric for investors.

The book value is a company’s hard assets - in BP’s case, its oil fields and rigs - minus its intangible assets and its liabilities. BP’s book value is $33.25 per share.

When a stock price is trading below its book value, it shows that investors have little confidence that the company is worth even as much as its assets.

Unrealistic fears? But a report from Oppenheimer Equity Research called Wednesday’s sell-off "panic selling," adding, "investors dumped BP shares on fear of unrealistically high potential liabilities ."

The report said BP shares currently price in $60 billion worth of potential liabilities, "which we think is very unrealistic."

Oppenheimer also shrugged off fears that the company will go bankrupt, be acquired by a rival or fire chief executive Tony Hayward.

"Driving BP out of business would not clean the Gulf Coast, pay plaintiffs or help its 23,000 employees," the report said. "We think such action is both unnecessary and unlikely."

Dividend worries: In addition to the bankruptcy fears, there’s concern about BP’s quarterly dividend that is slated to be paid out June 21.

Last week, Sen. Charles Schumer, D-N.Y., and Sen. Ron Wyden, D-Ore., sent a letter to BP chief executive Tony Hayward saying it was "unfathomable that BP would pay out a dividend … before the total cost of [the] oil spill cleanup is estimated."

Schumer and Wyden cited a Credit Suisse report that said the total cleanup cost could reach $37 billion if oil continues gushing until a relief well is completed in August.

On Tuesday, a group of 50 House Representatives sent a letter outlining similar points.

Oppenheimer’s report said BP’s balance sheet isn’t an issue, with projected operating cash flow of $34 billion in 2010 and $37 billion in 2011.

"While we think BP can financially sustain the dividend, we are not sure if it can do so politically," the report said.

The report noted BP pays one of the highest dividends in its sector. In fact, even if BP slashed its dividend by 50% it would still be the highest yield among its competitors. 

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Two weeks after the stock market’s record dive, regulators have a plan to keep it from happening again by essentially calling "time out" when trading gets too chaotic. The question is whether that will work.

The big exchanges say new curbs on trading known as "circuit breakers" will help prevent runaway market drops. But not everyone is convinced. To some market watchers, the rules are too limited. To others, the rules go too far.

The reality is that we may not know who’s right until there is another wild trading day like the one that stunned Wall Street May 6. Intense selling sent the Dow industrials down to a loss of almost 1,000 points in less than 30 minutes.

Under the plan announced Tuesday by the Securities and Exchange Commission, trading of any Standard & Poor’s 500 stock that rises or falls 10 percent or more within a five-minute period would be halted for five minutes. The idea is that by giving investors a break, they’ll be less likely to set off a chain reaction of human and computerized selling.

That’s one of several possible causes of the May 6 plunge. The drop, which some are calling a "flash crash," briefly wiped out $1 trillion in market value as some stocks traded as low as 1 cent. What if the new circuit breakers were in place that day?

"I believe that day would’ve played out significantly different," said Joe Ratterman, CEO of the third-largest U.S. stock exchange, BATS Exchange, which helped devise the new rules.

"There would’ve been chaos," he said, "but that pausing would’ve created enough breathing room for people to realize that the falling prices weren’t based on fundamentals," or economic news.

Still, given that regulators have yet to determine the cause of the market’s dive, some market watchers question how they can be so sure they can prevent another drop.

"I’m absolutely skeptical," said J.W. Verret, a former SEC defense lawyer who teaches law at George Mason University.

He called circuit breakers a "blunt instrument" that could interfere with the markets’ role in determining what a price should be. "Sometimes a stock needs to drop."

Others say the new SEC rules don’t go far enough.

The circuit breakers will apply to all 50 or so U.S. exchanges. But they would only kick in for 500 of the some 8,000 publicly traded U.S. stocks. After a six-month trial, the SEC and the exchanges could expand the rules to include more. In the meantime, some traders aren’t happy with the unequal treatment.

"If you’re going to put in circuit breakers, then put them across the board," said Ted Weisberg of Seaport Securities.

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The Federal Communications Commission is expected to unveil a new proposal Thursday to require Internet service providers to give customers equal access to all available data, according to a published report.

FCC chairman Julius Genachowski is expected to outline his proposal to adopt Net neutrality rules for regulation of broadband lines, according to the Wall Street Journal.

The FCC has been trying to impose new regulations since 2005 that would force cable and phone companies such as Comcast (CMCSA, Fortune 500), AT&T (ATT) and Verizon (VZ, Fortune 500) to treat all Internet data equally. Last October, the FCC voted to move forward on crafting so-called "Net neutrality" rules.

But the rule-making was held up by a federal appeals court decision last month stating that the FCC does not have the authority to stop Internet provider Comcast from bottlenecking its customers’ file sharing quick pay day loan.

The case originated in 2007, when Comcast subscribers realized that the company was interfering with their ability to use peer-to-peer applications such as BitTorrent to swap files that consume large amounts of bandwidth. The court ruling said that Comcast defended the practice of interfering with the applications in order to manage scarce network capacity.

A Comcast spokeswoman downplayed the issue and denied that her company was blocking access.

The office of the FCC chairman did not immediately return a request for comment on the Journal report. 

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