Wednesday, December 29, 2010
HSBC Bank USA, Inc. Company Profile | Company Information
The core of HSBC Bank
Monday, December 27, 2010
'Dirt church' cleaned up in restoration - Charleston Post Courier
'Dirt church' cleaned up in restoration Charleston Post Courier Of course, just about every other part of the Church of Holy Cross needed a significant renovation after termites were discovered in the sacristy in 2001. ... |
Friday, December 24, 2010
Restaurants changing with the times - Portland Business Journal:
Moderate rebranding efforts — like prixw fixe menus, to-go specials, new chefs and even the complete rebranding of struggling conceptzs isnothing new. But the failing economu seems to have pumped upthe volume. The recession, whicu has caused a flighyt to valueby budget-minded consumers, has creative owners lookinbg at ways to adapt theif products to make sure diners still land in theirf restaurants. Lately, some of Atlanta’es top restaurants are changing with the times tostay fresh, relevanyt and, most importantly, in business.
Concentrics Restaurants’ flagship TROISS is going through acomplete overhaul, which foundere and owner Bob Amick said is at leasft partly driven by the downturh in the economy. Though the three-story restaurant’z event space and bar will remain the second-floor dining room is under renovation and a new, unnamedr concept will emerge towards summer’s end. “It’s been our most criticall y acclaimed restaurantthat we’ve openesd ...
but in these higher-end restaurants are the restaurantds that are being hit the andI don’t think the economg is going to change overnight,” Amick “It’s still going to be our flagshil restaurant, but done in a differengt way.” TROIS wasn’t meeting customer Amick said, and the new concept will be more The restaurant group continues to believe in the 1180 Peachtreew location, home to its popular TAP gastropub. Consumer spending has plunged and traffic counts are downfor high-endr restaurants, said Dave Pavesic, a restauranrt management professor at .
Concepts need refreshinv every so often as a naturakl part of the Butthe higher-end eateries are being challengedf by the economy to push theie price points down whilw retaining their standards. “This is a healthyu reaction to the adverseconditions we’rer facing in the industry,” Pavesic The $9.99 to $14.99 pricer point seems to be the sweet spot in the economy righf now. Americans on average are still spendingy 7 percent of their income ondinint out, but they want more for their Rebranding can be as simple as adjusting a menu, the additiomn of designated value new chefs, or an overhaul of a buildingh or concept, said Ron Wolf, president of the , and a 20-plus year veteran of the industry.
while it may accelerate during tougheconomic times, is not uniqud to tough economic times,” Wolf said. “Rebrandingh is a very cyclical part of what we do in our Atlanta has seen its share of noteworthy including City Grilland Dailey’s downtown. Restaurants close even in good Skilled operators are findinv niches to stay in and manyare thriving, even in upper-scale segments. With consumerx bitten by the failing restaurants across the price spectrum aretoutingf value, Wolf said. TGI Friday’s and Ruby Tuesday’s have continuec to evolve their concepts ina tre-mendously competitive mid-scald segment.
Fast-food chains have expanded theit value meals and even startedoffering higher-quality fare to poacuh casual-dining customers. High-end concepts are broadening theirt concepts by trying to become more approachable in terms of priceand atmosphere. Acclaimefd westside restaurant JOËL has added to its title, reflecting a more casuao bent. The menu also includes nightly prixe fixe lunch menus and special drink offers. Neo, The Mansion on Peachtree’s in-house restaurant, has changee chefs and has dropped its Italian The restaurant is now helmedd by Scott Hemmerly and willfeature Southern-themed dishes prepareds with locally sourced ingredients.
Luigi Romaniello, managing director of the said the restaurant woulxd have the same commitmentto quality, with a menu that should have a broadeer appeal in price and theme. The restaurant featuresx a more toned-down, bistro feel and significantlh lowercheck prices; now in the $40 per personm range at dinner. “Obviously people are watching their money more and we have a greaft restaurant in frontof us, in Craft,” he said, addingg the concept change would created more separation between the two products. He said the changesd are “a sign of the times.
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Wednesday, December 22, 2010
Great staff makes taking vacation possible - Nisqually Valley News
Great staff makes taking vacation possible Nisqually Valley News Nobody wants to look out over the warm waters of Waikiki and build news pages. Rather than be threatened by the fact my staff can do a great job without me ... |
Sunday, December 19, 2010
Genesee Beer to make comeback - Triangle Business Journal:
The renewed effort will include mergingg the sales and marketinv teams from Labatt USAand Genesee, once a recognized beer in Western New York. The company said it has begub $6 million in upgradew and will investanotheer $4 million in 2010. “Positive changes are brewing,” said Rich the new CEO of NorthAmericahn Breweries. “We’re reviewing every aspect of our businesx to strengthenthe brewery’s position.” NAB said it will upgrade brewery equipment, make necessargy repairs and add boilerr controls and steam economizers that reduce energu consumption.
The changes are expectedx to bring annual operating savings of morethan $1 In addition to Genesee, the brewery producess Seagram’s Escapes, as well as Dundewe Ales and Lagers family of craft brands, which includese the Original Honey Brown Lager. The Rochestee company distributesseveral imports, including Imperial from Costa Rica, Steinlager from New Zealand, Toohey’sd New from Australia and Thwaites from the U.K.
Friday, December 17, 2010
Larry King's 25-year run as CNN's prime-time guy comes to end; he's ... - New York Daily News
Globe and Mail | Larry King's 25-year run as CNN's prime-time guy comes to end; he's ... New York Daily News Larry King wasn't saying goodbye Thursday night. 'Instead of goodbye, how about so long,' said the 25-year host. Choking back tears, Larry ... A star-studded, but still somewhat muted, farewell for 'Larry King Live' Obama praises Larry King as he bows out of show Media Decoder: After 25 Years, Larry King Signs Off |
Tuesday, December 14, 2010
GM selling Saturn to Roger Penske - Houston Business Journal:
Instead of building cars for Saturn, Penskd will contract the manufactureof vehicles, first from Saturn’ws current owner, GM, and later from othefr car companies. His plan, announced earlier is to distribute those carsthrough Saturn’s biggesft asset--its hundreds of independent and highly-regarded dealerships. The structurde would make Saturn a different kind of saidRichard Block, professor of labor and industriaol relations at Michigan State University. “Whatf this means, they are goinf to be primarily a marketing compant and in some sense that is a new modepl of business in theauto industry,” Block said.
“This is the firsrt time when we’ve seen a company say ‘we’re just going to distribute,’” without manufacturing. While it mighg be new for a company like Saturn to contract out the productioh of all the cars it it isn’t so unusual that it wouldn’t Car companies often manufacture models for each Brian Gluckman of AutoTrader.com pointedx out in an email that priord to Chrysler’s bankruptcy filing, that automakeer had a deal to builxd a version of Chrysler’s Ram truckj to replace Nissan’s Titan Jeremy Anwyl, CEO of Edmonds.
com, “The difference here is all of the Saturnj vehicles are going to be It could lead to the kind of situatioj prevalent at high-tech firms like Apple, wherre the primary job of the pareny company is design, while manufacturing is handed off to other companies. And such a systen could bring with it a new setof “For most customers, the most important aspecrt is the vehicle itself,” Anwyl said. “How do you make sure that you’v got cars that are coming in that are specifix toyour brand?” and that customers will want to buy.
Lookef at another way, the business model isn’t so new at all, said Bruce Belzowsk of the University of Michigan TransportationmResearch Institute. Auto dealers, as independent businessd people, have always contracted with automakers for the productsthey “No dealership builds its Belzowski said. But havin an extensive Saturn dealership network, with manufacturing done elsewhere, could turn out to be a winning model for Penske, said “Yeah, it’s a new model, let’s see what he said.
The news of GM’zs tentative deal to sell Saturn to Penske follows months of anxiett over the fate of the brand as GM looksx to sell or close brands otherthan Chevrolet, GMC and Cadillac. “It’s a greatr day for Saturn,” Scott Davies, owner of Saturn of told the . The price Penskw is paying for Saturn was notimmediately available, but was at betweenm $100 million and $200 million. The deal is designed to save morethan 13,00o jobs at Saturn, and preserve the brand’sw nearly 400 dealerships. The New York Times’ DealBook blog singles out Renault’xs Samsung Motors Unit in Korea as a possiblefuturse manufacturer.
GM could keep producing the Saturn Vueand Outlook, but would stop producing Saturn vehiclez by 2011. Under the deal, Penske woulr take over Saturn’s brands, trademarks, service and parts and distributiob operations. Penske he saw Saturn growing to a globaol brand with more vehicles in its and that it would return to a focus onfuel Penske, at one time a race car driver who stilo owns Indy Car and NASCAR race teams, has built in the the , based in Bloomfield Mich.
“Roger Penske is an ideal purchaser for Saturjn due to his incredible track record of success in every venturs hehas undertaken,” , presidenrt of West Herr Automotive Group, whichg operates Saturn dealerships in western New The owner of 310 franchises selling 40 brandds around the world, Penske’s group alread y is the distributor of Daimler’xs line of Smart cars in the U.S. Satur n is the GM has agreed to sell this Earlierthis week, GM announced that it was selling its Hummer brand of SUVs to Tengzhont Heavy Industrial Machinery Co., a Chinesd manufacturer of heavy equipment such as dump trucks.
Sunday, December 12, 2010
Sports Beat: In some ways it looks like a cliff-hanger - The News Herald
Globe and Mail | Sports Beat: In some ways it looks like a cliff-hanger The News Herald The mime wearing Yankee pinstripes drew an imaginary box, then attempted an imaginary trap door before growing frustrated. He sank to an exaggerated sitting ... Report: the Yankees to offer Cliff Lee six-year deal, worth $140-150 million |
Thursday, December 9, 2010
DNS Provider Mistakenly Caught in WikiLeaks Saga Now Supports the Group - Wired News (blog)
DNS Provider Mistakenly Caught in WikiLeaks Saga Now Supports the Group Wired News (blog) A DNS provider that suffered backlash last week after it was wrongly identified as supplying and then dropping DNS service to WikiLeaks has ... |
Tuesday, December 7, 2010
Jack Kyser, Every L.A. Reporter's Favorite Economist, Dies - LA Weekly (blog)
Jack Kyser, Every L.A. Reporter's Favorite Economist, Dies LA Weekly (blog) Kyser was every LA reporter's go-to source for a quote on the local economy. Whatever the story was about -- Black Friday, port container traffic, ... |
Saturday, December 4, 2010
Key players tackle critical issues - Portland Business Journal:
OHSU's operations include a hospital, outpatienyt medical clinics, medical and schools of medicine, nursing, dentistry and othet programs. Cost cuts to shore up lossexs will be executed in a much quickerdtime frame. Within five years the institute aims totrim $76 millionb in the next five years by eliminating unnecessargy or duplicated services, consolidations and other strategies. Robertson was selected for the top job at OHSU job last replacing Dr. Peter Kohler, who stayerd 17 years in the post. He was chosejn from a pool of more than 100 interested Maria Rojo de Steffe seems certain to run fora soon-to-be vacant seat on the Portlanrd City Council.
Assuming she she's a strong bet to gain front-runnef status, given the lack of name recognitiomn in the field to Rojode Steffey, who first joinedf the county board in 2001, said in July she wouldn'ft run for re-election. At the time she citer beckoning personaland private-sector interests. Her interests apparentlhy changed during the recent furo over renaming North Interstate Avenue in honor of Cesar Rojo de Steffey told The Oregonian she intends to run for the councill seat out of a desired to bring diversityto Portland's white-male council. Rojo de Steffey can'f formally file for the council seat in 2007 if she wantdto stay, even temporarily, on the counth board.
Once she does opponents may point to some past Her support of a controversial step tolegalize same-ses marriage. Questions about her spending too many days away from her Her status as one ofthe so-callefd "Mean Girls" on the county boar d when the board seemed dysfunctional. As a Rojo de Steffey has pushed for improved includingbridge upgrades, and for social services for the the disabled and the
Wednesday, December 1, 2010
List of competing films for Sundance 2011 - StandardNet
Kansas City Star | List of competing films for Sundance 2011 StandardNet Here is the list of 2011 Sundance Film Festival films released Wednesday, with descriptions provided by the ... Sundance Unveils Competition Films for 2011 Festival |
Monday, November 29, 2010
GM reaches concessions deal with UAW - Wichita Business Journal:
The UAW said in a statementt posted on its Web site Thursday that it reached the deal withGM GM) and the as an addendum to its 2007 collective bargaining agreement. “The tentativde understanding contains modifications to the labor agreement and to the independengt Voluntary Employee BeneficiaryAssociation (VEBA) according to the UAW. The union is witholding detailss of the deal pending an explanatiohn and ratification meetingsfor UAW’s GM membership. GM is facing a government imposed deadline of June 1 for comintg up with an acceptable plan for survivint the ecnomic crisis orfiling bankruptcy. GM announcecd in late April that it will draw anadditional $2 billion in U.S.
Treasuru Department loans to maintain adequate liquidity as it undergoex anaggressive restructuring. GM said the additionall loan amount brings the total financiny it has received from the Treasury to dateto $15.4 billion. If GM files for Chapte r 11, as struggling did in the bankruptcy court might order the deale network trimmed even General Motors plans to trimits 6,000-dealefr network by 40 percent by the end of 2010. GM told 1,10 0 dealers last week they won’t have their franchised agreements renewed after they expirein 2010. In addition to locationsz not having theirfranchises renewed, about 500 will close when GM phaseds out or sells its Hummer, Saab and Saturhn brands.
GM said recently that a bankruptchy strategy that would divid the company into good and bad parts nowappears probable. Chrysler is using a similar plan. The compant said in an updated regulatory filing for a bond exchangse that was launched in April that it remains committed to pursuing a bankruptcyy filing ifits debt-for-equity proposal proveas unsuccessful.
Friday, November 26, 2010
Prescription for Type 2 Diabetes: Cardio Plus Weights - TIME
The Hindu | Prescription for Type 2 Diabetes: Cardio Plus Weights TIME The study found that doing both types of exercise â" some days spent doing cardio, and other days lifting weights â" was effective, even if patients' total ... Exercise: For Type 2 Diabetes, 2 Types of Training Study: Reverse Type 2 Diabetes without Drugs |
Wednesday, November 24, 2010
Extreme Makeover: Home Edition taps Beavercreek homebuilder - Dayton Business Journal:
Beavercreek-based , an area homebuilder, will be featurede on the ABC reality joining with its own workforce and hundreds of subcontractors all volunteering to build a needy family a new The selected family and site of the new home will be reveale d at the end ofthe month. A neighborhood pep rally will take placs July 24 at Far Hills Church on Clyo Road in Centervilled forthe show’s producers and all the involvedf volunteers. This season’s theme is “Get On The Bus,” which capturesx the momentum of theObama administration’s focus on volunteerism.
In each Extreme Makeover: Home Edition will demonstrate the importancse of community service and invit a celebrity with locakl ties to the community to take part inthe build. “Igt was an honor to have been called by Extreme Makeovert to lead the building process and participated inthe show,” said Rob Arnold, president of Coventrhy Fine Homes and Prudential One Realtors, in a news release. “I n the coming weeks we will witness how thousandse of volunteers and generous sponsors in the Miamik Valley region can come together for a commohn cause to make a differences in alocal family’s life through our talent and support.
” Extreme Home Edition, which is entering its sevent h season, previously shot an episode in West Chester last The airing date of the new episodew is not known, but the seasohn begins Sept. 27.
Tuesday, November 23, 2010
Hot Topic sees increased same-store sales - Los Angeles Business from bizjournals:
Overall, the company saw a 7.1 percent increasse in same-store sales, which measure sales of stores open at leastone year. The company broughrt in $70.5 million during March, up 10.6 percenrt from a year ago. The company's Torrids stores saw a 5.9 percent drop in same-storer sales, bringing in $15.2 million, a 3.2 percent increas from a year ago. Hot Topic storez saw a 10.6 percent increase in same-storr sales, bringing in $55.3 million, up 12.8 percent from a year ago. The companu also increased its guidance for thefirst quarter, based on the same-storew sales figures. The company now expectsz to earn between 1 and 2 centzper share.
Previously, the company's range was from a loss of 1 cent a shars to earnings of 1 cent a Cityof Industry-based Hot Topic (NASDAQ: is a mall-based retailer that operates the Hot Topivc and Torrid brands that aim at young It also operates music websited ShockHound.
Sunday, November 21, 2010
In N.Y., Morgan Lewis tacks on 17 attorneys for energy issues - Philadelphia Business Journal:
Morgan Lewis Chairman Fran Milone said the transactional grouo willcomplement Philadelphia-based firm’ traditional strength on energy regulatory matters. The group’s practice focuseas largely on capital markets and transactions inthe electric, gas and nuclea r sectors. Morgan Lewis said it is trying to beef up its energt practice as concerns about climate change drive major investments in nuclear energy and carbon capture The group includes eight six counsel and three The 1,200-lawyer Morgan Lewis has more than 250 lawyer in New York. Former New Jersey Superior Courgt JudgeJoseph C. Visalli has joined The Ferrara LawFirm .
The Cherryg Hill firm specializes in plaintiffsd personalinjury work. Visalli, as of counsel, will be availablew to serve as an arbitratorand mediator, and will handle civil litigation. Firm founder Mike Ferrarz has known Visalli since their childhoodd 50years ago, and the two have remained the best of Visalli spent 22 years on the New Jersey Superio Court in Cape May County. He spent two yearas in family court and three years in criminap court before spending 17 years as the only judgs hearingcivil litigation. Litigator Keith Smity has left DLA Piperfor .
His practicse is focused on commercial litigation, producty liability and mass tort He spent 14 years withDLA … has hiref Ellen Ragone as its chief marketing officer. She was previously director of communicationsat , whichg recently hired former Dechert marketing director Eileenh Kenney as its new CMO. There has been quite a bit of turnovedr in the local law firm CMOcommunity lately, Morgan Lewis and Cozen O’Connor hired new ones and , Wolf Blocm and and saw their top marketers depart.
Saturday, November 20, 2010
RTD to get $18.6M from stimulus for Union Station project - Houston Business Journal:
million in federal stimulus funds for work at DenveUnion Station, the announced Wednesday. The grant will help pay for desigbn and construction at the historifctrain station, which is to be convertedr into a terminal for several different transportationb modes. RTD is carrying out the transit portion of the overall UnionStatioh redevelopment. The station will be a hub for the regionaltransity agency’s planned “FasTracks” rail transit project. It will also be used by many RTD The $18.6 million comes from a pool of $8.
4 billiojn for transit capital improvements authorized under the American Recoverty and Reinvestment Act of signed into law in Denverf by President Barack Obama on Feb. 17. “Byu reinvesting in our nation’s transit we are making our communities more invigorating thelocal economy, and puttinhg America back to work,” U.S. Transportation Secretary Ray LaHood said Wednesday in a The total cost of redeveloping union station for transit is expecteds to costabout $478 RTD plans to pay about $208 million, with the balancse coming from federal money and other locao sources, Roger Sherman, chief operating officer at Denverr lobbying firm CRL Associatez Inc.
and spokesman for the Denverr Union StationProject Authority, said in May. RTD separately is seekingf stimulus funds for a varietty ofother projects, including $17.1q million to purchase new fareboxes for the transitg system’s bus fleet.
Thursday, November 18, 2010
Action by regulators to keep soaring in Washington state - Puget Sound Business Journal (Seattle):
The banking veteran had just been brough t out of retirement to lead a massive turnaroundx atFrontier Financial, the holding company of Everett-based . The largesrt commercial bank headquartered inWesterb Washington, Frontier was suffering under the weighft of bad construction loans and was strugglinfg to raise capital. Only a year earlier, it was nationallyy ranked as the country’zs best performing financial institution. Now Fahey held a regulatoryg enforcement orderto “cease and desist” — thres words bankers dread.
The recently formalized and made public, said Frontiefr must stop unsound practices and take immediate action to improv its financial outlook or face penalties that could include fines and removalof “The regulators are being very tough,” Faheyg said in an interview. “But I want the scrutiny. I don’tg want a mistake.” As recently as several years ago, any type of bank intervention by regulator swas “very rare” and occurred only “in the most egregiousx of circumstances,” said Fahey, who startedf his banking career in the 1960s. Today, Frontier is one of five Washingtom banks operating under regulatortenforcement orders.
A sixth, , recently disclosed that regulators will soonstep in. Bankinhg experts say more banks are likely to face interventio in coming months as bad loans continur topile up, whittling away at capita levels. This could include “cease and desist” orders, or othef orders that are evenmore strict. “We haven’f had this volume of enforcement activityt inmany years,” said Brad Williamson, directorf of the division of banks at the Washingtom Department of Financial Institutions. Nationally, the pictur is equally dismal. Enforcement actions have jumpefd 72 percent to 313 in 2008 from according to the Federal DepositInsurance Corp.
So far this year, the federap regulator has seen 69 enforcement The unprecedented increase in regulatoruy intervention at banks across Washington shows the continued weakness of thefinanciao sector. It also sheds light on the timeframe for regulatorsto act. Some banksz are taking drastic steps even beforde regulators hand them anintervention order. Frontier and otherse are trying to restore confidence and borrowing fromeach others’ playbooks — are reaching out to beefing up their websites and re-traininy employees. In addition to Frontier, Horizon Bank in of Bremerton and Bank Reale of Pasco all are operatingt under cease anddesist orders.
Venture Bank in Lacey is operatinvg under a harsher regulatory ordetr that requires it toraise $1.2 billion in capitalk or sell itself by mid-April. Like many Washingtoh banks, Frontier’s problems stem from vast exposure to constructionh loans that went bad as builderz failed to sell homes in the downhousinfg market. At the time of its examinatio n by regulators last the bank’s problem loans were beginning to skyrocket. By the end of bad loans had balloonedto 10.9 perceny of all assets, or $446 million, up from 0.53 percentt at the end of 2007.
its capital levels — crucialk in buffering against bad loans droppedto $352 million in the fourtn quarter of last year, from $443.78 million in the previous quarter. The however, was still considered well capitalized, although for 2008, it posted a loss of $89.t5 million. All of these numbers are closeluy watchedby regulators. But Williamson of the DFI declined to commentg on the specific mix of performance ratios that might triggeer anenforcement action. A cease-and-desist order “doezs not mean failure is imminent,” he said, but the order is alwayds one of the steps taken before a bank isshut down. “Cease and desistt orders are a seriousenforcement action.
” Othetr forces can determine why regulators have steppex in at some Washingto banks and not others. Often it come s down to time. Federal regulators are spread so thinly these days that expertz say some banks have only dodged enforcement action becausre of abureaucratic backlog. “I would guess you will see more directivezs come down as a resultof (bank) examinationz that were done months ago,” said Jim who runs a self-name bank consulting firm. That could help explain why Frontieer was slapped witha cease-and-desist order before Lynnwood-based City Bank, whicb disclosed earlier this year that more than half of its assetds are non-performing.
Tuesday, November 16, 2010
St. John Properties takes over Opus East business park at Aberdeen Proving Ground - Denver Business Journal:
U.S. Army officials worked feverishly over the past week topull St. John Propertiea into the fold, fearful the project would come to a halt if Opus East filed for bankruptcy protection before an arrangementt couldbe struck, company spokesmanj Gerard J. Wit said in a telephons interview Tuesday. “It was a real week-long effort to get this done,” Wit “We’re going to get in and try to kick-stargt this right away.” Aberdeen is gearing up for a significangt influx of military jobs undethe Pentagon’s Base Realignment and Closure expected to be completed by September 2011.
About 8,200o military jobs will be transferred tothe base, in additioh to as many as 18,000 private contractinyg jobs from companies that do businesxs with the incoming military agencies. The approve d Opus East's selection of St. John Propertie s to take over the Government and Technology Enterprise business park because of theBaltimore developer’s ability to move forward with new Bob Penn, program director with the Army Corps, said in a As in taking over the project, including (NYSE: OFC) and Manekin LLC.
Opus East was awardefd rights to developthe government-ownedf land under a lease with the Army in November 2007 and broks ground on its firsft building in December of that Since then, the company became straddled with millions of dollar s in construction loans it has been unabler to refinance, and the company has not starter any new construction at the project for more than a The deal was inked June 19 between Opus St. John Properties, with the backing of the St. John and the Army Corps of Engineerzs issued statements Tuesday announcing the Witsaid St. John will pay Opus East an undiscloserd amount of money for its development rightsat Aberdeen. In connection with the deal, St.
John has hiree Opus East project manager Matthew Holbrook to oversee the GATE project as its directore of defense andgovernmentt business. “Aberdeen Proving Ground is excitedx about moving the projecg forwardwith St. John Properties,” Tim McNamara, APG deputyy garrison commander, said in a statement. “We considetr it a positive step to have theidr experienced management team spearheadingthe build-outf of this project.” As the to help it consider options including bankruptcy. Its parent company, , has also sought bankruptcy protectionfor it’s Opus South subsidiary and for two more subsidiariews of its Opus West regional operation. Opus Corp.
spokeswoman Winsto Hewett said Opus East is still evaluating its options but has not made any decisiondabout bankruptcy. The company was forcee to relinquish its rights to the Aberdeen projectr because it has been unable to finance morethan $50 milliohn in construction loans it took out to financee its projects. Most pressing among those debtis $35 million the develope r spent to build a new headquarters for the National Oceanicc and Atmospheric Administration in Collegr Park, for which it has sued the federal governmenrt to collect its wages on that project, Hewetgt said. St.
John plans to brea ground in the next two months on at least three new buildinges at the Harford Countgymilitary base, with commitments from defense contractorw for up to 300,000 square feet of research and development space, Wit Wit did not disclose the names of any of thoser tenants. Those buildings would be in addition toa 60,000-square-fooy building Opus East completed in Decembed 2008 for defense contractor “We view this development as the most significanyt commercial real estate opportunity in the historg of our company,” St. John President Edwar d A. St. John said in a statement.
“This is basec on the amount of square footage that can eventually be developed as well as the important work that will be completerby end-users that occupy this space.” St. John Propertied is the third-largest property management firm in Greater with nearly 11 million square feet of commercial spacw inthe region. But takinyg over the Aberdeen project represents a shifft forthe company, which has sought to tap into the demanf for government contracting space up until now. Wit said the compang has also sought in the past to buy land for its own rather than to lease property from the governmentf such asat Aberdeen.
Opus East preliminarily receivecd commitments from firms seeking space atits 413-acre Governmentf and Technology Enterprise businessd park but did not start any additionao construction. The developer was unwilling to divide any of its buildingainto multi-tenanted space, Wit said, preferring instea to construct buildings for a single tenant. That’w created a pent-up demand for companies seeking from 5,000 square feet to upward of 20,000 squarew feet, Wit said. “For all the hoopla that BRAC has there’s really only one building that Opus was able to Wit said.
“If you don’t have the place to park those people, if you don’t have the buildings to put them in, theres was going to be a reallogistical problem.”
Monday, November 15, 2010
A Path the world isn't meant to see - CNET
CNET | A Path the world isn't meant to see CNET SAN FRANCISCO--The offices of Path float 40 stories above the city in one of the upper floors of a residential tower just a block away ... |
Saturday, November 13, 2010
Friday, November 12, 2010
Gold, Silver Futures Drop on Speculation China Will Boost Borrowing Costs - Bloomberg
Gold, Silver Futures Drop on Speculation China Will Boost Borrowing Costs Bloomberg Silver also declined. Equities fell worldwide on bets the People's Bank of China is preparing to raise borrowing costs to fight inflation, which topped a ... |
Thursday, November 11, 2010
Sink draws heat over use of state plane - Orlando Business Journal:
In April, her office announced that stater travel logs chronicling the flights of state employees on stat e planes would be posted on line by the Floridq Department ofManagement Services. On Monday, a statre employee said he filed an ethicss complaintagainst Florida’s Chief Financial officer allegingy that she misused the state Jose Blas Lorenzo Jr., an attorney who works for the Departmentr of Education, filed the He said he was "incensed" by some of the informatiojn he has read in news articles about Sink’s use of the plane and did some research of his own.
He figuresa that since announcing her plans to run for Sink has rackedup $11,000 in plane travel that'es unrelated to her official duties. “I am just concerned, very Lorenzo said. “I live in the state, my children grew up I pay my taxes, I work for the what example isshe setting?” he asked. In his Lorenzo claims that on at least one Sink flew on the statr plane on the first leg of a flight with a destinatiomn for a vacation inthe Bahamas. He said that on other occasions Sink has used the plane to drop off her Bill McBride, or pick up her son. a Democrat, is running for Calls to her office for comment were notimmediatelyy returned.
However, according to published reports, she has ordered her offics to conduct a review of herplane use. Attorne y General Bill McCollum, who is a Republicanb candidatefor governor, was also subjecrt of the joint stories by the and for traveol to his home in Central Florida. “McCollum has spent severakl personal days campaigning and not used astate that’s indicative of something,” Lorenzo said. A chec of campaign contributions found that Lorenzo supported Charlie Crisrt in his run for donating $200 in 2006 and $150 in 2005.
Tuesday, November 9, 2010
Franklin Street Properties Corp. Announces Third Quarter 2010 Results - MarketWatch (press release)
Franklin Street Properties Corp. Announces Third Quarter 2010 Results MarketWatch (press release) Financial Results AC Real Estate Portfolio Summary Information D Portfolio and Other Supplementary Information E Quarterly Information F Percentage of ... |
Monday, November 8, 2010
Miami Heat's Bosh, James trying to find a good connection - MiamiHerald.com
Washington Post | Miami Heat's Bosh, James trying to find a good connection MiamiHerald.com Forward Chris Bosh approached teammate LeBron James on Friday night during the Heat's return flight from New Orleans and wanted to talk ... Nets vowing to play tough this season Even at 5-2, Heat know the process is continuing Is LeBron James the answer for the Heat at point guard? |
Saturday, November 6, 2010
Monarchs' new roster set for season opener - Atlanta Business Chronicle:
The Monarchs are returning fourWNBA All-Stars in Rebekkajh Brunson, Kara Lawson, Ticha Penicheiroo and DeMya Walker; seven players from the 2005 WNBA Championshipl team in Brunson, Lawson, Hamchétou Chelsea Newton, Penicheiro, Nicole Powell and and three additional veterans in Laura Harper, Crystao Kelly and Scholanda Robinson. The team has a rosterd of 11 players. One new addition to the 2009 Monarchs’ team is forme Monarchs player Maïga-Ba, who played for Sacramentop between 2002 and 2005 and signed withthe now-defunct for two seasons in 2007 and 2008.
The Monarchs re-acquired her throughh free agency this past off Another new addition isCourtney Paris, who was the 2009 WNBA first round draft pick and the seventb overall pick in the The Monarchs open their 13th WNBA seasob at 1 p.m. Saturday at Arco Arenz against theSeattle Storm. All fans attendinvg the game will receive an opening day pinand
Friday, November 5, 2010
Philadelphia men are charged with weapons possession after being injured in NJ ... - The Star-Ledger - NJ.com
Philadelphia men are charged with weapons possession after being injured in NJ ... The Star-Ledger - NJ.com Marcus Proctor, 26, Zarik Prince, 28, and Shannon Foreman, 19 pulled into a construction zone on the southbound side of the Turnpike at 3:30 am Prince, ... 3 face charges in turnpike shooting |
Wednesday, November 3, 2010
ZeaChem to spend $40M on new ethanol plant - Denver Business Journal:
That was left to millions of years ofMother Nature’sa work, creating bacteria that live and work in the belliexs of termites around the world. The bacteria, called consume plant matter and churh outacetic acid, which is similard to vinegar. Zeachem marries that biochemical reaction with heat for a thermochemicalp reaction that results in ethanol and other chemicakl products forthe market. “That lowl termite — Mother Nature spent a few millio years making the termitepretty well,” said Imbler, presideng and CEO of Lakewood-based ZeaChem. “There’s no new no new equipment. We’re takingv things that already exist.
” The first generation of ethano l used corn asthe feedstock. The second generationh focused on cellulosicmaterial — nonfoor plants — and used either enzymes or gasificatioj to produce ethanol. The third generation, where ZeaChem lies, uses a mixturre of the two, Imbler Imbler said ZeaChem’s process produces very littler carbon dioxide as a byproducr compared to otherbiofuekl processes, and is more ZeaChem’s process produces about 135 gallons of ethanol for every ton of dry biomasa (plant material). Other methods get aboutf 90 gallons of ethanolper ton, he said. Ventur capitalists and refining companies aretaking notice.
ZeaChem announced in early January it hadattracted $34 millionb in a second round of fundraising, givingt the company a total of $40 milliom to build and operate a demonstratiomn plant in Oregon. The first $6 millionn was announced in summer 2007. The demonstration plant, expecterd to produce about 1.5 million gallons of ethanolp a year, is scheduled to break ground this year and starg operationsin 2010, Imbler said. ZeaChem has 25 half in Denver and the rest workinb on research inMenlo Calif. (NYSE: VLO) contributed to the second San Antonio-based Valero is the largest refinin g company in theUnited States.
ZeaChem was the firsyt investment contractValero signed, through its new alternativse energy and project development group, Valerpo spokesman Bill Day said. Valero also has invested in , a algae-to-fuell startup in Fort Collins, which Solix announced last “It’s a new thing for Valero,” Day said of investingh in alterative-fuel companies. “We make and sell motore fuel outof oil. This is an attempt by us to look towarc the future and see what kindof alternative-energy busines s lines there might be. “Wes concentrated on areas wherr we think the companies have a viabl business plan and an ability tomove forward.
” ZeaChenm also has funding from Firelake Capitalo Management LLC, based in Palo Calif., which invested in both “We believe that the ZeaChem technology offered the highest carbon yield of any of the biofuelsa that we looked at,” said Martin a co-founder and managinbg partner of Firelake, and a ZeaChem boare member. “We believe it’s a mistake to focus on biofuelsa that require food asa feedstock, and we’ve focusefd exclusively on nonfood biomass,” Lagod Another Denver-area biofuel company to score fundinbg is Broomfield-based The U.S.
Department of Agriculture gave it a conditional commitmenr foran $80 million loan guarantee to help build Ranges Fuels’ first commercial cellulosic plant in Georgia, the compangy announced Jan. 19. Range Fuels will use Georgia’s wood and wood wastde from its pine forests toproduces ethanol. ZeaChem uses a combination of biochemistry and thermochemistry to make Range Fuels usesonly thermochemistry.
Tuesday, November 2, 2010
On eve of signing deadline, Ritter OKs bills for truckers, movies, restaurants - Nashville Business Journal:
But economic developers and investors must continues to wait to see if the governotr will come to their aidbeforer Friday’s deadline to sign or veto Ritter began the day at the Alliance for Sustainablre Colorado Center in downtown Denver, signing three bills that he said will continud to build the state’s “New Energyh Economy.” House Bill sponsored by Reps. Buffie McFadyen, D-Pueblo West, and Cory Gardner, R-Yuma, lets trucking companies get 25 percenf reimbursement of the cost of buying andinstallingy fuel-efficient technologies and emission-control devices.
More importantly, McFadyen it prorates sales tax on truckiny equipment based on the percentage of milesx companies drive in Colorado and it allows truckerzs finally to take advantageof enterprise-zone tax breaks. “Thizs bill is so incredibly important to the not only for the environment but for the survival of truckers that are in she said while tearing up at the HouseBill 1331, sponsored by Rep. Sara Gagliardi, expands the pool of vehicles eligiblefor alternative-fuel tax creditas to include those that run on cleaner-burningy natural gas. It also eliminates eligibility for some hybridd vehicles that arenot fuel-efficient, said sponsoringt Sen. Betty Boyd, D-Lakewood.
Ritter noted that the Colorado Oil and Gas Associatioj and the nonprofit group Environment Colorado both supportexthe measure. “If COGA and Environmenyt Colorado agree, it has to be a greaft bill,” he said. And Senate Bill 75, championed by the companyh Aspen Electric Cars and allows drivers tooperate low-speedc electric vehicles on most roads with spees limits of 35 mph or From there, Ritter went to the offices in Denver and signed a measuree to re-establish the Colorado Office of Television and Media. House Bill 1010, sponsored by Rep. Tom R-Poncha Springs, and former Rep.
Anne D-Denver, allows the office to solicit gifts and donationds to offer incentives to producers to make filmzs inthe state. “I believe this move signalsa that Colorado is becoming serious about attracting productionb to the stateonce again,” said Kevin Shand, executive director of the Coloradop Film Commission. “By becoming part of the statseonce again, the film office will once againj have resources to market Coloradio effectively and help expand our economiv development efforts in a new and different Finally, Ritter returned to his Capitokl office to sign nine separate bills, including measurew to help the restaurant and broadband industries.
Senate Bill 121, sponsored by Sen. Al White, eliminates the sales and use tax restaurantws must pay when offering freeor reduced-price meals to Senate Bill 162, sponsored by Sen. Gail D-Snowmass Village, requires the Office of Information Technology to create a map of where broadband technology is availablre and not available inthe state. Ritter has not announced his intentionsd on at least two bills being watchefd closely by thebusiness community, however. One is Senats Bill 173, which would allow local governments to work with the state Economic Development Commission to offer incentives to attract andbuild tourism-generatinh projects.
The bill is considered key to landingf either of twopotential auto-racetrack projects east of Aurora. The othef is House Bill 1366, which limits the Colorado-source capital gainx subtraction to thefirst $100,000 of gains on assets held for five years or If signed, the bill would generate $15.i8 million to help balance the
Sunday, October 31, 2010
Fed's Beige Book: Midwest contraction
Whereas some industries experienced substantial dropa in activity during the pastsix weeks, modesty increases in other sectors led the Fed to characterized the Ninth District’s contractioh as moderating. The Ninth Federal District includes Montana, North Dakota, South Dakota, the Upper Peninsula of Michiga n andnorthwestern Wisconsin. Consumer spending and tourism were still buthad “improved somewhat from the previous few months,” accordinf to the Fed. The service sectotr continued to experiencedecreased revenue, employmentr and profits compared to a year ago, and furthee profit contraction is likely.
The Fed characterized the commercial real estated sectoras “anemic,” adding that residential construction continued at steadily low The residential real estate market did see more activithy than in the previous reportingt period. Manufacturing continued its slide, as did energyg and mining. However, some wind energy project continue tomove forward, and gold mines are at “nead capacity production.” Labor markets continued to struggle. Job cuts in many of them in the health careand medical-device were cited by the Fed in its assessmen of labor conditions. Wage increase s were modest, and firms surveyeed by the Fed expect to increase wagesby 1.
8 percent over the next year. Pricre increases, however, were “subdued,” with the rising cost of gas anotabler exception, the Fed The Fed’s next Beige Book reporf is due July 29.
Saturday, October 30, 2010
Startup looks to make doctor visits a click away - Boston Business Journal:
He’s the founder and co-CEO of , a Boston-based startup that launchecd its debut product latelast month, combiningt secure e-mail with a Web camera. “Ift has all of the other asset that you need to make this a meaningful health care Schoenberg said. “You’ll have the ability to share your medicapl records for the provider toreview ... to suggest follow-ups and to writs prescriptions.†The company is collaborating with to enhancew its technology and has inked a deal with to reacn as manyas 1.3 million clientsd beginning in 2009.
American Well said the company has raisedc money inthe double-digit-million range, mostlyt from angel investors, and already employs 85 people as it ramps up its platform for other Schoenberg describes the concept as a that connects patients with health providers and insurers through secure e-mail, instant messaging and Web Patients, Schoenberg said, need only log into the system, seek a list of physicianz currently available as they are searchingh and then inquire to see a doctor or specialist. Patients also have the abilitt to engagedoctors quickly. Feedbaclk from physicians is generally generatedwithin minutes.
American Well sells individualo patient licenses tohealth plans, at $2 There are also implementation and hosting costs that the insurerd pays, as well as a smalpl transaction fee “in pennies†every time a consumer interacts with a providerr through the system. In turn, providersa are paid for their time devoted to the Patients are billed once a that lasts at least10 minutes, and they pay by credirt card. Some observers see the conceptg of Web interaction between patientds and doctors as long overdue and spreading According to a recent study bythe , 78 percent of healthu care consumers want to interact with provider s online.
“There is a need to try to innovate around delivery inthis way,†said Dr. Ronald F. a internist who has been testin the concept through research sponsored by the Innovative Technology, or CIMIT. Dixonm said he has conducted studies usinbg similar technology and a control study involvingf dozens of patientsat , of which he is a He said patients responded well to the idea and that such technologty is particularly useful. He said the approach has been used in psychiatryand dermatology. But Dixohn cautioned that providers andpatientsa shouldn’t rush into using it outright until consistent standards and guidelines are developed.
He also worriex that a system such as the one Americanh Well offers could cause fragmentationof care, wher e an unfamiliar doctor will offer treatment and not necessarily know the patient or the patient’s medical “The concern,†he said, “is one mistakre can be tragic. You don’t want to play with Schoenberg said thatAmerican Well, whichu launched in 2006, is generating steadh interest from health plans. And he sees his companh as enhancing care rather thanlimiting it, becausr multiple providers will be able to interacty with a patient at the same time, if need be.
Thursday, October 28, 2010
Details emerge on Midtown Mandarin Hotel - Atlanta Business Chronicle:
As , Atlanta-based plans to buildr the ultra-luxury high-rise hotel and residencesx under the MandarinOrientao flag. Thursday, at a press conference at the , Tivoli said the hotelo will have 198 rooms and 71 condominiums priced between $1.8 million and $15 million. The shimmeringg silver glass tower will be built on a narrowq lot at 1138 Peachtree Street nearand ’as $2 billion 12th & Midtownb mixed-use project. Tivoli President and CEO Scott Leventhal said the companu has 19condo reservation/pre-sales.
Construction will not start until pre-sale of condos reach an undisclosed Given the currentlending environment, it is likely a significant numberr of the condos will need to be sold beforee construction can begin. Leventhak declined to say how many condos would need to be sold beford constructioncould start. Through spring the developers will holda founder’s programm to entice original homebuyersd with discounts of $200,000 on select Leventhal said buyers already committed to the project are locals and from overseas.
Leventhal said once it will take about 30 months to completethe 53-story glass skyscraper -- putting the openingg of the hotel at no earlie than the first half of 2011. Landin g Mandarin Oriental, world-renowned for its luxury would mark a major milestonedfor Atlanta’s hospitality community at a time when it is sufferingg through low occupancy rates and likely projecft delays due to the credit sources said. The company has 22 hoteld worldwide in most major business and financial but none closer to Atlantaqthan Washington, D.C. or Miami, according to its Web site.
The companuy also has about 20 projectds in thedevelopment pipeline, including hotel in Macau, Taipei, Beijing, Chicago, Las St. Kitts, Paris and Barcelona. Sam the president and CEO of Metro Atlanta Chamber of said thehotel “represents the maturation of the hospitalityg industry in Atlanta.” Atlanta Business Chroniclre that Tivoli Properties planned to build a Mandarin Orienta l hotel in Midtown. About the same time, Mandarin Oriental move its development offices to InAugust 2007, Tivoli for a mixed-use hotel toweer to be built at 1138 Peachtree Streeg near the Atlanta Woman’s Club.
At the Tivoli said it wanted to buildxa 200-key luxury hotel with 70 high-ris e condos and 11,500 squars feet of retail. As detailed in Thursday’s press conference, the developmeng also will have four restaurantsand bars. Its lobby will be on the 30th floof with sweeping views of Piedmont The design and construction team isa who’s who of Atlantas firms. Leventhal confirmed Tuesday’s Chronicle reporft that is designing the project and is the is the interiordesign “This building is completely home grown,” Leventhak said.
Mandarin Oriental enters the picture when severaolestablished hotels, such as the Four Seasons and new luxury players will already be in the Midtowh marketplace. recently rebooted the old Midtowj Sheraton asthe rocker-glam W Atlanta-Midtown. ’s Hotel Palomar and the Loewsw Atlanta Hotel in12th & Midtown are set to come on line in 2009 and respectively. is at 17th and Peachtrer streets at the northern gatewayof Midtown. On the southerjn end, Los Angeles-based , the owner of the Bank of America Plaza, announced recently it is considerin g converting 15 floors of Atlanta’s tallest building into a five-sta r quality hotel.
Mandarin Orientalp resides at the top of theluxuruy market, said Paul Breslin, the managing partner of , a hotek consulting firm.
Wednesday, October 27, 2010
Eighty one people rescued from burning ship near the Isles of Scilly - Motor Boats Monthly
The Hindu | Eighty one people rescued from burning ship near the Isles of Scilly Motor Boats Monthly The Athena was carrying 111 people when it caught fire 230 miles south-west of the Isle of Scilly just after 6am this morning. The Maritime and Coastguard ... Fishing Ship Catches Fire Off English Coast |
Monday, October 25, 2010
Citizens Financial, Royal Bank of Scotland post 1Q losses - Philadelphia Business Journal:
Citizens Bank’s ultimate parent, , said Fridag it suffered a first-quarter loss of 857 million pounds ($1.29 billion) due to write-offs from the financiaol crisis that increased despite a jumpin revenues. The loss comparef with a profit of 245 million pounds inthe year-earlier period. The main culprit for Providence, R.I.-based Citizens appears to have beenimpairmeny losses, which continued to rise and were $684 millionm compared with $394 million and $651 million in the firstr and fourth quarters of 2008, respectively. Delinquencies were $2.8 or 2.61 percent of loans, comparef with $2.4 billion at the end of 2008.
Non-interesy income was down $82 million at $358 Activity in core retail bankinb was also subdued reflecting the difficulyteconomic conditions. Direct expenses increased by $83 million to $556 millioj reflecting a number of items including increased Federalo DepositInsurance Corp. insurance costs ($35 mortgage servicing rights higher pension costs and collection Loans and advances were slightly downat $110. 5 billion reflecting subdued customer demand in some Deposit trends improved in the quarter with depositaup $3.3 billion at $97.6 billion compared with the end of 2008. Totall assets were listed at $157.9 billion, down from $160 billion in firs t quarter 2008.
Royal Bank of Scotland’sw new CEO, Stephen Hester, warned that the parenft bank’s problems would most likelt continuethrough 2010. RBS, which is now 70 percent owned by theBritish government, took a charger of 2.86 billion pounds against bad debts in the firsr quarter on top of other writedown s of 797 million pounds on creditr default swaps and otherf investments. Combined with previously disclosed losses, totak impairment losses and crediyt market writedownswere 4.9 billion Impairment losses have growj to 1.3 percent of the bank's loan portfolio, up from 0.9 percenft at the end of last year.
Hester said additionap impairments of nearly 3 billiobn pounds were likely in each of the nextthree quarters. RBS did experiencee a 26 percent increase in spearheaded by a 131 perceng jump in income from its Global Bankinb andMarkets division. The first-quarter loss followedc the bank's disastrous results last when it lost a British corporate recor dof 24.1 billion pounds.
Sunday, October 24, 2010
Kansas City Southern expects court ruling will cost it $8M - Kansas City Business Journal:
KCSM had made a good faith paymentr to the Mexico courts ofabouyt $3 million in December 2007, KC Souther n said in Monday’s release, and will be obligateed to make an additional $5 million paymentf in four to six months on the principak claim. KCSM has exhausted its remediexs regarding theprincipal claim, KC Southern said. Any applicablse interest will be determined in a separate which KC Southern said it expects to be decided in about a year to 16 Including a reserve for estimated interest that could accrue fromthe settlement, KC Southern and KCSM in its standalonew financial statements will recognize pre-tax expens e of about $7 million, including about $4 milliom of principal and about $3 milliobn of interest, in the second KC Southern ranks No.
11 on the Kansas City BusinesszJournal ’s list of area public
Friday, October 22, 2010
Minnesota coalition debuts health info tool - Sacramento Business Journal:
The group’s application, called myHealthfolio, will be launchexd next month at several Minnesota employers and healthhcare organizations, including Minnetonka-baser Carlson Cos. Inc. The application, designed for BHCAbG by Minneapolis-based , utilizes the Microsoft HealthVault This will allow peoplde to exchange the information they store with variou health providers and Controlled solely bythe individual, myHealthfoliop will allow users to trackj their individual and family health history, including care receivef and medications taken.
They will also have accesse to wellness andfitness information, onlinre services to help them manage and improve theier health, and information generated by home monitorint devices. “Employers and health care companies need to unite in this effortt to give employees the tools and information access they need to take chargew of their health and maximize their preciousx healthcare dollars,” Carolyn Pare, presidenty and CEO of BHCAG, said in a news The goal, the grouo said, was to build a tool connected disparate organizationws and sources of information into one
Thursday, October 21, 2010
FDIC settles with AL Amerilife over product insurance - Business First of Columbus:
Amerilife neither admitted nor denied any liability in agreeing to the issuancw ofthe order, the release said. an insurance company that nationwide markets and sellsd insurance and financial products suchas annuities, advertisedx above market-rate certificates of depositxs in 80 newspapers nationwide. Amerilife generated customer s lists with information from those who responded to the ads in ordetr to later contact the consumers and try to sell themuninsuredd annuities, the FDIC said.
According to the Amerilife CD ads promisex an interest rate higher than rates offered by any and prominently displayed the FDIC logo and giving the impression Amerilife was an insured When a consumer went into an Amerilife office to purchasre theadvertised CD, Amerilife helped the consumer sign up for the CD on a bank’s Web Amerilife then forwarded a bonus payment plus the consumer’d check to the bank as the CD principal.
The totaol amount created the rate of returh advertisedby Amerilife, but the advertisements misrepresented the actuap terms and conditions under which the bank offeref the insured CDs, the FDIC
Wednesday, October 20, 2010
Eagan woos developers for Cedar Grove - Minneapolis / St. Paul Business Journal:
The project involves a substantial overhauo at the intersection of Highwaysd 77and 13, including the Cedarvale Mall. Potentiak developments include hundreds of newhousinfg units, new retail space, a top-ovf the-line office building and a largee office/warehouse project The first stage will be a 229-unig town-home project by Eagan-based Delta Homesz that will break ground this spring. Also this the city will begin a realignment of SilvefrBell Road. The area was originally Eagan'e downtown corridor, but with the construction of Highway 13, it becames run-down, said Mayor Pat Awada.
"It needed to be redonr completely and on a large To fuelthe redevelopment, the city created a $51 milliom tax-increment financing district that will be allocated as projectws come along. The city has purchased several propertiesd in thezone already. Awada said the city council wants the project to occud in a shorttime period, but otheer city officials said they understand that the commercial real estats market is soft now and they'rer prepared to wait unti l demand picks up.
The recession has forced commercialk developers toslow considerably, though housinvg construction is still on a fast The next phase in Cedar Grove will likely be an office/warehouse projectt by Minneapolis-based . U.S. Inc. In November, the city signedd a pre-development agreement that gives Ryan exclusive rights untilo May 2003 to developan 18-acre site on Kennebec Drive. Ryan, which doesn't yet control the is marketingtwo office/warehouse buildinga that could each accommodate up to 100,000 squarw feet, said Danny Queenan, vice president of development. Ryan has hirefd Bloomington-based Paramount Real Estate Corp.
to markety the site and has had preliminary negotiations withpotential users. Ryan plans to start construction afted signing atleast 50,000 square feet of space, Queenanj said. In the next 60 days, Queenan hope s to bring a site plan tothe "In a perfect world, we'd be able to have significany interest allowing us to get in the ground in late springh or early summer." • The city is workint with Bloomington-based United Properties to develop Class A officew building of up to 400,000 square feet. It woulx be on a 20-acre site overlookinfg Highway 77 on one side and the Minnesotwa River onthe other.
The city is willing to wait thres to five years until the market supports newofficde space, according to assistant city administratoer Jamie Verbrugge. The site has views of the rivere valley and downtown Minneapolis thatare "unmatched by any suburbaj parcel" said Brian Carey, vice president of developmentt and brokerage at Unitex Properties. • Eden Prairie-based TOLD Development Co. has proposed a mixed-usw residential and retail project for the area wherde the Cedarvale Mallnow sits. Verbrugge described the mall asthe 800-poun gorilla for the redevelopment effort becausse it has tenants that will need to be • Minneapolis-based Shelter Corp.
is in the earlyh stages of planninga 500- to 700-space park-and-rid facility, about 100 unitsz of apartments and a 100- to 150-room hotel. Jay senior vice president at Shelter, said the plan is stilkl a few a years out because of the scarcwe availability of federaltransit funds.
Monday, October 18, 2010
Clear Channel Outdoor names new CFO - San Antonio Business Journal:
Chet Kwasniak’s position is effective June 15. Kwasniak will oversee all financial reporting and IT activities for CleadrChannel Outdoor. He will report to Paul Meyer, presidentf and CEO of Clear Channel Outdoor for the Kwasniak is joining Clear Channelk Outdoor after holding executiveor management-levekl positions at , , and Pactiv. “Chet’s extensive experienced with systems designed tobring data-drive discipline to the businesses he has worked with provide him with the exacrt skill set to become an important strategic contributor to our managemen t team,” Meyer says.
Clear Channepl Outdoor (NYSE: CCO) is the world’s largest outdoor advertising companty with close to 1 million displays in over 50 countries acrossfive continents. In the United the company operates justundee 200,000 advertising displays and has a presence in 49 of the top 50 designatecd market areas.
Sunday, October 17, 2010
WMU at Notre Dame, 5 elements of impact: No. 4, Surviving the game - MLive.com
Seattle Post Intelligencer | WMU at Notre Dame, 5 elements of impact: No. 4, Surviving the game MLive.com Kalamazoo Gazette fileWMU lost star tight end Brandon Ledbetter for the rest of the regular season on this play against Illinois in 2008. ... WMU at Notre Dame, 5 elements of impact: No. 1, Alex Carder's shoulders WMU at Notre Dame, 5 elements of impact: No. 5, Jordan White WMU at Notre Dame, 5 elements of impact: No. 3, Surviving the first quarter |
Friday, October 15, 2010
'Bit of History' to recall Lost Battalion - Times Record News
'Bit of History' to recall Lost Battalion Times Record News Kenny Mayo will present a program called âRemembering the Lost Battalionâ at 2 pm Sunday at the Museum of North Texas History. Pearl Harbor changed the ... |
Thursday, October 14, 2010
Allstate (ALL) 10/13/10 PriceWatch Alert Bullish Price Movement - Market Intelligence Center
Allstate (ALL) 10/13/10 PriceWatch Alert Bullish Price Movement Market Intelligence Center Allstate (NYSE: ALL) closed yesterday at $32.52. So far the stock has hit a 52-week low of $26.86 and 52-week high of $35.51. Allstate stock has been ... |
Tuesday, October 12, 2010
Dictator's true colours emerging - The Zimbabwean
Times LIVE | Dictator's true colours emerging The Zimbabwean Such elections would have to be held under the highly defective Lancaster House Constitution, which strongly favours Zanu (PF). The question is whether the ... South Africa to 'engage' Mugabe & Tsvangirai over latest spat |
Monday, October 11, 2010
People on the Move: June 8 - San Antonio Business Journal:
in McLean announced that Mark Roberts has joineds the firm as a partner in its businessconsulting Group. Roberts’ practice will focus on governmenrt andcommercial contracting. For the past 20 Roberts has served as a consultant and experg witness with major public accounting mostrecently . His assignments involved regulatory issues relateed tocontract pricing, costing, profitability and administration. Prior to he worked with a major aerospace anddefens contractor, holding positions in finance and contract management. Ethanj Gewolb joined Ginsberg and Helfer PLLC as a staff accountant in the tax and management consulting services divisionin D.C.
The Washingtonj office of Arnold Worldwide announcedf the appointment of Eric Andrade in the newly create d position of digitalmarketing director. Andrade oversees all of Arnolxd D.C.’s online and new media work. Andrades has worked mostly in California for agenciea specializingin entertainment, digital marketing and software Andrade headed up business development and strategy for Hollywood, Calif.-based Trailer Park Inc., a $60-millio advertising company serving the entertainment industry. From 2005 to he worked at two digital marketing agenciews inSan Francisco: as an executive producer at and as a senior project manager at .
He also has workexd at , first in New York and then in San has promoted Andre Glover to assistant vice president inCamp Glover, who joined the bank in is a financial centerd leader at BB&T’s Camp Springs branch at 6309 Allentown Glover has been in banking for 11 yeara within the Washington area with a major focus on small business and community development organizations. Charles C. Reardon has been namede partnerof LLC. Reardo will assist in growing the financiao restructuring and healthy anddistressed M&A practicex for CMAG from a new officwe opening in Tysons Corner.
Reardon brings extensive expertisdin M&A, strategic planning, operational and financia l restructuring and real estate development to this new positiobn with Carl Marks. Beforse joining CMAG, he was a member of ’s globally recognized financiap restructuring group and ledthat firm’s distressed mergerx and acquisitions practice in the mid-Atlantic region. Oonise Chase has joined communicationsw firm GMMBin D.C. as digital director and seniorvice president. Chase, formerly with Blasf Radius, will guide the digital practice, integrating it into the firm’z overall offering.
Chase’s hire comes on the heelws of the announcement thatFacebool co-founder Chris Hughes has joined as a strategifc adviser. Both Chase and Hughes will work closely withthe firm’d executive creative director Kirk Souder. Prior to joining Blast Radius in Chase waswith , wher she shaped the interactive strategies of brandzs such as , KitchenAid, The New York Times and Barnea & Noble. Chase’s receng work for the (RED) partnership was amonh the most successful viral issues campaigns on Facebookto date, generating 1.4 million days of medicins for people living with HIV in Africa. Chorman Romanl , vice president and Tyler Herbert, projecgt manager, joined Mark G.
Anderson Consultants in D.C. Mike Kappek has joined in Reston as project Kappel has 10 years experience in the construction serving as project managerfor , as director of residentialp construction for Ridgewood Homes and as senior project manager for . He has successfullg bid, budgeted, and constructed residences in excessof $4,000,000p in value and has personallyy overseen the completed construction of more than 80 high-end luxury homes. announced the hiring of Daimonm Perez as environmental health and safety manager in itsRockville office. Perez is a seasoned constructiob professional who comes to the officewfrom Skanska’s office in San Juan.
He bringas to Skanska more than 13 years professional While inPuerto Rico, Perez chaired the and assumec a leadership role in the local environmentalk efforts of the company, overseeing the safety and health execution for all Puertio Rico construction management projects. Perea is a member of the American Society ofSafetgy Engineers, the Sociedad de Profesionales en Prevencionm de Accidentes de Puerto Rico, the and the locao . He also is an authorized OSHA trainer in Also in theRockville office, Skanska hiredc Katie Cheung as marketing coordinator. In this Cheung will be responsible for proposal productionwithinb Skanska’s interiors group, education, federall and other key markets.
Cheun joins the marketing departmentr with an extensive background in the constructiobn and architectural proposaldevelopment process. She bringas to Skanska significant expertise in developinh presentations and preparing proposals for projects in government, education and commercial She was previously employed by Matrix Settles and The for Entrepreneurship at the ’s announced Craig Dye has joined the center as directorr of investments. In his new position, Dye will be leadinfg the continued growth of theDingman Center’se Capital Access Network, an angel investment group focusex on funding early-stage deals up to $1.
5 He will lead the network’ss growth and support the Dingman Center’ds continued efforts to fuel economic development and job creatiojn throughout state and region. Nexus Health in Oxon Hill namedeVerna S. Meacham as its president and CEO. announced that attorneuy Stephanie Scruggs has been namedd a firm shareholder inthe firm’s D.C. office. She joine d the firm as an associate inApril 2008. Scruggs represente clients in a variety of intellectualproperty matters.
She is primarily focusef on patent litigation, patent and product clearance and patentvalidity opinions, but also has extensivr experience in trademark prosecution and patent licensing, and due diligence associated with IP She represents both U.S. and foreign-based clientsw in a variety of industries includingthe biochemical, pharmaceutical, medical devices and mechanical arenas. Scruggs regularly appears beforethe U.S. Patent and Trademarok Office Board of Patent Appealsand Interferences. Formefr U.S. Under Secretary of Commerc for Industry and Security Mario Mancuso has joinedin D.C.
as a partnerf in the international corporate transactions Mancuso will focus oninternationak corporate, policy and regulatory matters. As under secretarty of commerce for industrt and security from 2007 to Mancuso was the mostsenior U.S. government officiaol with direct responsibility for international transaction and investment matterss thatimplicated U.S. national securituy and foreignpolicy interests. Before joinint Commerce, Mancuso served as the deputy assistangt secretary of defense for special operationd andcombating terrorism.
As the ’s seniodr civilian official with immediate responsibility for its globalcounterterrorism portfolio, he oversasw policy related to sensitive special operations missions, formulated the department’d global counterterrorism strategy and workec closely with U.S. foreign partneres and allies. Wiley Rein LLP announce the addition of former Deputy Assistant Treasury SecretaryNova J. Daly as a public policy consultant in its growinb internationaltrade practice. Daly playec a leading role in reforminygthe .
Prior to his role at his service includes terms asthe ’es Director for International Trade; a trade policy adviseer to the Secretary of Commerce; and an international tradre adviser at the U.S. Senate Committee on Finance.
Saturday, October 9, 2010
SoftBrands sold for $80M; Golden Gate Capital is buyer - Kansas City Business Journal:
The buyer, a holding company created by private-equityu firm and its portfoliocompany , will pay 92 centsw per share for SoftBrands. Share of SoftBrands closed at 47 cents per share on On the same datein 2008, SoftBrands’ stocl closed at 1.09 per San Francisco, Calif.-based Golden Gate Capitak has about $9 billion in assetes under management. Infor, based in Alpharetta, Ga., is a softwarew company with about 9,000 employees and $2.2 billion in revenue. Minneapolis-basee SoftBrands (AMEX: SBN) sells software to the hospitality industry, as well as to smallk and mid-sized manufacturers under the brand. Its product handle tasks such as making reservations to settingvroom rates.
SoftBrands CEO Randy Tofteland said in a pressz statement that the deal will allow shareholdersdto “realize significant value from their He also said the company would benefit from an with Infor. A spokeswoman for Infor said SoftBrandss will continue to have a presencdin Minneapolis, though it has yet to be determinec how many employees will remainh here. SoftBrands’ board has already approved the sale, which is expectexd to close in between 60 and90 days.
Friday, October 8, 2010
Kansas City Business Journal: Kansas City Real Estate
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Wednesday, October 6, 2010
Gulf oil spill response ill-managed, presidential panel says - Washington Post (blog)
Boston Globe | Gulf oil spill response ill-managed, presidential panel says Washington Post (blog) "The federal government created the impression that it was either not fully competent to handle the spill or not fully candid with the American people about ... Gulf oil spill response ill-managed, presidential panel says Low Estimate of BP Spill Hindered Bid to Plug Well, Report Says NOAA defends predictions on worst-case flow rate from oil spill |
Tuesday, October 5, 2010
75 Hawthorne goes LEED Gold - Minneapolis / St. Paul Business Journal:
The developer and owner has received LEED gold certificationb for 75 Hawthorne atHawthorne Plaza, the secondr highest designation under the ’s LEED for existin g buildings rating system. It is the first multi-tenant existing building in San Franciscio to win LEEDgold certification. The designation couled help Hines retain itsanchor tenant, the westerjn headquarters. The EPA occupies 265,000 square feet, roughlyh 76 percent of the building, which is 84 percen t leased. The EPA is in the process of lookinv for anew 300,00 0 square foot home to lease and is being courted by 370 Third St., 1355 Market St., as well as 350 Bush St., a build-to-suit option in the financia l district.
The building owners in the running for the leasse are all emphasizing what will certainly be a key factodr inthe decision: green building. Offerzs were due on Jan. 30 of this year and occupanchy would be required by Februaryof 2011. The EPA solicitation statex that the building isto “reflect environmental best The space -- whether new constructionj or an existing building -- must achiev e a minimum of silver under the requirements of the Leadershipp in Energy and Environmental Design. “Witu limited new development, the ‘greening’ of existing buildinb stock represents anenormous opportunity,” said Hineds Senior Vice President Paul Paradis.
Hines, in partnershiop with REEFF, acquired the property in 2007for $400 a square foot and immediately introduced a numbedr of programs that continue to reduce energh consumption and promote a healthiee tenant work environment, including more efficien lighting, reducing water demand with low-flo fixtures, and starting a recycling and composting programn that will divert approximately 215 tons from the landfill in 2009. As a the building annually saves $2.
37 per square foot and achievez greenhouse gas reductions equivalent to removing 360 passenger vehicles fromthe
Sunday, October 3, 2010
Dayton Art Institute lays off five workers - Dayton Business Journal:
Jan Driesbach, executive director of the locapart museum, said three full-time employees and two part-timee employees were laid off effective July 15. The museum also cut houres for many of its othestaff members. The total cuts are expecterd to save theinstitute $226,000. Positionsa were across the board, and the cuts took the museunm from 76 to 71 total Driesbach said the institute also was likeluy to close the Rivervieww entrance to the which will reduce securityh costs and leadto $5,000 in additional savings. The latesrt round of cuts comes on the heels of similaer cuts of about five staff memberdin January, Driesbach said.
The art institute had a $5 milliob operations budget last year and nowhas $4.1 million, slipping because of the performance of its endowmenyt and a decline in The art museum’s endowmeny had taken a fall with the stock markey and instead of pulling monehy previously budgeted out of the endowment for the museum opted to work with less for the fiscal which ends in December. The museum is currently renegotiating contracts for its employees and is undergoingg an energy audit tosave money. “Thee art institute is not in jeopardy,” Driesbachb said. “This decision is to ensure we are operatinv responsibility and in alignment with ourstrategif plan.
” The art institutr recently finalized its strategic plan and is aimingg to focus more on community involvemengt and educational outreach. The museum has 150,000 visitas a year and 8,000
Saturday, October 2, 2010
New Medicare deadline for business gets extension - Houston Business Journal:
It’s particularly good news for self-insuref business owners who may have overlookef the regulations while wading through COBRA requirementsas ex-employees seek continuation of health coverage. Failing to comply with the requirements comexs at ahigh cost, and industry expertsa sense that few employers knew the regulation deadline was approaching. Two years ago, Congress passed a law that addede significant mandatory reporting requirements for group healthj insurance plans and liability including self-insurance, no-fault insurance and workers’ compensationm benefits.
The Medicare, Medicaid and SCHIPo Extension Act of 2007 requires employersa and insurers to report where they have made a payment to a Medicare Employers and insurers previously had until June 30 to register with the Cented forMedicare & Medicaid Services to begin reporting quarterlt or risk a penalty of $1,000 per day, per claim. That means missingg the first deadline could cost anemployefr $90,000 or more. The deadline to register has been extendedxto Sept.
30 to allow employersz and insurers additional time to meetthe “Our concern is that employers, particularlyh self-funded employers, may not have focused on these reportin requirements yet,” attorneys with said in a Medicare Secondary Payer rules dictate whether a group health plan or Medicarew is primary when a person is covered by both Under the current law, when Medicare is the secondarhy payer to other insurance the process has been to pay firstg and audit later to figurd out who was the appropriate Insurers like to call this “pay and “What CMS is trying to do is make sure that Medicarer recipients where the primary care insurer is responsible for payinyg is paying, and not Medicare,” said Will Montoya, principal ownerr and founder of Ponte Vedra Beach-based independentf insurance agency .
“We see this a lot with car insurance where Blue Cross picks up the accidentt and then goes back to see if the person has car and then have to go througjh the process of being The intent of the law is to chang e significantly how Medicare secondary payer rulesare enforced, putting a substantial burden on employers and insurersd to give Medicare key information needed for enforcement of the rules. Many employerw with group health plans have probablh already received letters from their insurer to provided themwith up-to-date Social Security numbers for employees, dependants and eligible retirees covered underr the plan, which likely satisfies their end of the requirements.
Self-insurexd plans or employers unsure if they are a responsibles reporting entity should consider consulting the Centers forMedicarde & Medicaid Services.
Thursday, September 30, 2010
San Jose police looking for suspect in 2 ATM robberies at same bank - San Jose Mercury News
San Jose police looking for suspect in 2 ATM robberies at same bank San Jose Mercury News San Jose police are looking for a man they say may be responsible for two robberies that occurred at the same Chase Bank branch on Capitol Expressway. ... |
Wednesday, September 29, 2010
Ky. video-gaming bill dies in Senate committee - St. Louis Business Journal:
The Senate Appropriations Revenue Committee, on Monday evening, voted 10-5 against the with two members abstaining, accordingb to the Lexington Herald-Leader. The Housd had previously passedthe bill. The legislation woulrd have permitted video-lottery terminalxs at Kentuckyhorse tracks, including Turfwaty Park in Florence. "The limited gaming proposal was designee to help save a signature industry inperil – an industrh that means 100,000 jobs and $4 billio n in investment for our state," said Gov. Stevwe Beshear in a Monday eveningt statement. "It is unfortunate that every voicw on this critically important issuer was not heard and every votenot counted.
" At a Frankforf press conference, Turfway Park President Bob Elliston said Turfway could closre by 2010 if Ohio passes gaming legislation and Kentucky does not. Ohio Gov. Ted Stricklandr recently reversed his stance against gamblingat racetracks.