Which Millionaires Seek Alternative Investment Products? Millionaire Corner Alternative investment products appeal to most â€" but not all â€" of ultra wealthy investors, according to recent Millionaire Corner research, which finds that Millionaires who invest heavily in alternatives tend to share other traits, as well ... |
Tuesday, October 30, 2012
Which Millionaires Seek Alternative Investment Products? - Millionaire Corner
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Sunday, October 28, 2012
Ex-American Italian Pasta CEO, CFO plead guilty to wire fraud - Kansas City Business Journal:
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Former CFO Warren Schmidgall also pleadexd guilty to the same Charges bythe U.S. Attorney’s offic for the Western Distric of Missouri and the released Tuesdau accused Webster and Schmidgall of misrepresentingthe company’sd financial performance between May 2002 and December 2004. The SEC claims that Webste r and otherunnamed co-conspirators devised variouz schemes whereby earnings would closely matcjh Wall Street analysts’ expectations for Kansas City-base AIPC (Pink Sheets: AITP). U.S. Attorney John Wood calledr the case the largest corporated fraud case in the history of the Westerb Districtof Missouri.
“These guiltty pleas send a clear message that no one is abovsthe law, no matter how high they may be in the corporater heirarchy,” Wood said. “And when the CEO and CFO sign theitr names to financial statementsundeer Sarbanes-Oxley and know those financial statements are they will be prosecuted.” More specifically, the chargea allege the following: • That Webste and others fraudulently restructured round-trip cash transactionse with Mrs. Leeper’s Inc., a California-basee pasta brand, to make it appear as thoughu Mrs.
Leeper’s had reimbursed AIPC for morethan $2 million in That caused AIPC’s fiscal 2003 financiapl report to be overstatesd by $1.3 million and its fiscal 2004 report by abourt $1 million. • That Webstere and others did a simila r transactionwith , which caused AIPC’s financiap report for the first quarter of fisca 2004 to be overstated by abouyt $1 million. • That Webster and others misrepresentea round-trip cash transaction with , a Los Angeles-baser grocer and supplier, to overstate its financial report for the first quarter of fiscal 2004 by $345,774. Webster resigned as co-CEl from the company and its boardc inDecember 2005.
Jack Kellyu became permanent CEO of AIPC in January succeedingJim Fogarty. Webster and Schmidgall each face as much as five yearsd in prison and as muchas $250,000 in fines and Wood said federal prosecutors would recommend that the two serve prisoh time. • David Watson, former executive vice president of corporate developmenttand strategy, was accused of helping orchestrate the scheme. He agree to pay more than $1 million in fines to the SEC. Stephanie Ruskey, former controller, agreed to pay a $25,000p fine.
• Mark Peterson, former vice president of accounting and had an order entered againsg him to cease and desist from future violationsdof reporting, record-keeping and internal control provisions. Undet a civil charge filed by the SECagainstr Webster, he can no longer servr as an officer or director of a public company, and he has to pay a $751,977 disgorgement, $32,610 in prejudgment interest and $250,000 in for a total of slightlt more than $1 million. In AIPC agreed to pay $7.
5 milliojn in fines for the actions of its former and the SEC filed civil charges in federalk court against former senior officerzs for their roles in thealleged Wood’s office agreed not to prosecutes the company criminally because it agreed to pay the take responsibility for the conducgt of former officers, executives and employees; continue to cooperate; and implemenft remedial measures, Wood’s office said in a release. that it wouls take a $60.7 million chargde and that the SEC was investigating it for various financial restatements and transactions of company stockl by outsiders in late 2004 and early for which the company also had received inquiries from the andthe .
AIPC that its financialo reports filed with the SEC through 2002 and possiblgyearlier “should no longer be reliecd upon” and that it planned to file restatecd financial reports for the affected periods after the conclusion of an ongoing audit. . On Aug. 11, AIPC said it plannesd to issue 903,078 shares in the next month as part of a federaosecurities class-action settlement. to resolve federal securitiee law claims in a consolidated class action files inAugust 2005. AIPC’s insurers were to pay $11 and the company was to distribute $14 million wortgh of its common stock tothe class. The settlemeng didn’t include any admission of wrongdoing.
Former CFO Warren Schmidgall also pleadexd guilty to the same Charges bythe U.S. Attorney’s offic for the Western Distric of Missouri and the released Tuesdau accused Webster and Schmidgall of misrepresentingthe company’sd financial performance between May 2002 and December 2004. The SEC claims that Webste r and otherunnamed co-conspirators devised variouz schemes whereby earnings would closely matcjh Wall Street analysts’ expectations for Kansas City-base AIPC (Pink Sheets: AITP). U.S. Attorney John Wood calledr the case the largest corporated fraud case in the history of the Westerb Districtof Missouri.
“These guiltty pleas send a clear message that no one is abovsthe law, no matter how high they may be in the corporater heirarchy,” Wood said. “And when the CEO and CFO sign theitr names to financial statementsundeer Sarbanes-Oxley and know those financial statements are they will be prosecuted.” More specifically, the chargea allege the following: • That Webste and others fraudulently restructured round-trip cash transactionse with Mrs. Leeper’s Inc., a California-basee pasta brand, to make it appear as thoughu Mrs.
Leeper’s had reimbursed AIPC for morethan $2 million in That caused AIPC’s fiscal 2003 financiapl report to be overstatesd by $1.3 million and its fiscal 2004 report by abourt $1 million. • That Webstere and others did a simila r transactionwith , which caused AIPC’s financiap report for the first quarter of fisca 2004 to be overstated by abouyt $1 million. • That Webster and others misrepresentea round-trip cash transaction with , a Los Angeles-baser grocer and supplier, to overstate its financial report for the first quarter of fiscal 2004 by $345,774. Webster resigned as co-CEl from the company and its boardc inDecember 2005.
Jack Kellyu became permanent CEO of AIPC in January succeedingJim Fogarty. Webster and Schmidgall each face as much as five yearsd in prison and as muchas $250,000 in fines and Wood said federal prosecutors would recommend that the two serve prisoh time. • David Watson, former executive vice president of corporate developmenttand strategy, was accused of helping orchestrate the scheme. He agree to pay more than $1 million in fines to the SEC. Stephanie Ruskey, former controller, agreed to pay a $25,000p fine.
• Mark Peterson, former vice president of accounting and had an order entered againsg him to cease and desist from future violationsdof reporting, record-keeping and internal control provisions. Undet a civil charge filed by the SECagainstr Webster, he can no longer servr as an officer or director of a public company, and he has to pay a $751,977 disgorgement, $32,610 in prejudgment interest and $250,000 in for a total of slightlt more than $1 million. In AIPC agreed to pay $7.
5 milliojn in fines for the actions of its former and the SEC filed civil charges in federalk court against former senior officerzs for their roles in thealleged Wood’s office agreed not to prosecutes the company criminally because it agreed to pay the take responsibility for the conducgt of former officers, executives and employees; continue to cooperate; and implemenft remedial measures, Wood’s office said in a release. that it wouls take a $60.7 million chargde and that the SEC was investigating it for various financial restatements and transactions of company stockl by outsiders in late 2004 and early for which the company also had received inquiries from the andthe .
AIPC that its financialo reports filed with the SEC through 2002 and possiblgyearlier “should no longer be reliecd upon” and that it planned to file restatecd financial reports for the affected periods after the conclusion of an ongoing audit. . On Aug. 11, AIPC said it plannesd to issue 903,078 shares in the next month as part of a federaosecurities class-action settlement. to resolve federal securitiee law claims in a consolidated class action files inAugust 2005. AIPC’s insurers were to pay $11 and the company was to distribute $14 million wortgh of its common stock tothe class. The settlemeng didn’t include any admission of wrongdoing.
Friday, October 26, 2012
Conference Board's employment index dips - Denver Business Journal:
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The index for June is 88.4, a decrease of 0.8 from the reviseed May numberof 89.1, and a declinw of 21.6 percent from a year ago, the Conferences Board said Monday. “Compared to the beginninyg of the year, the decline in the Employmenty Trends Index hassignificantly moderated, and we thereforew expect job growth to resume around the end of the Gad Levanon, senior economist at the Conference said in a “However, over the last leading indicators of employment were mostly suggesting the Employment Trends Index is stilol seeking a bottom.” The Employment Trends Index aggregatews eight labor-market indicators to show underlying trends more clearly.
For the June the indicators that declined were the percentage of respondentsw who said theyfound “jobs hard to the number of employees in the temporary-help industry, industrial real manufacturing and trade sales, and job The other three indicators that make up the indexs are: initial claims for unemployment insurance, percentagd of firms with positions not able to fill righty now and part-time workers for economic reasons.
The index for June is 88.4, a decrease of 0.8 from the reviseed May numberof 89.1, and a declinw of 21.6 percent from a year ago, the Conferences Board said Monday. “Compared to the beginninyg of the year, the decline in the Employmenty Trends Index hassignificantly moderated, and we thereforew expect job growth to resume around the end of the Gad Levanon, senior economist at the Conference said in a “However, over the last leading indicators of employment were mostly suggesting the Employment Trends Index is stilol seeking a bottom.” The Employment Trends Index aggregatews eight labor-market indicators to show underlying trends more clearly.
For the June the indicators that declined were the percentage of respondentsw who said theyfound “jobs hard to the number of employees in the temporary-help industry, industrial real manufacturing and trade sales, and job The other three indicators that make up the indexs are: initial claims for unemployment insurance, percentagd of firms with positions not able to fill righty now and part-time workers for economic reasons.
Thursday, October 25, 2012
Trucking companies get lean, and save money, by going green - Nashville Business Journal:
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Volatile fuel costs and changinfg industry standards have spurned a greater awareness of and effortf to operate more efficiently thussavingh money, with the added bonusezs of reducing emissions and improving public and customer As part of these efforts, many area companies participate in the , which is part of the . SmartWayt offers operation guidelines, certified equipment for efficiency compliance and providee efficiency ratings toparticipating companies.
The SmartWau program both identifies fuel saving strategies and provides tools for measuringy and enactingthose strategies, says Rick Blanton, vice presideny of loss prevention at “We’ve been able to reducre emissions up to 23% in some areas,” Blanton says. He says Comtrak has takenm steps such asusinvg low-friction drive train lubricants in all thei tractors, using large capacity trailers and low profile tires and reducingt the amount of space between the tractorr and the trailer, which improves the vehicle’ss aerodynamics.
Lancaster says Mid-South Transport limits the speedf of their tractors to 65 mph and only purchases engined and truck parts which complywith SmartWay, all in an effort to reduce emissions. Lancaster says there has beenan industry-wide turnaroundr in the approach to these issues since when changes were made to the engine requirements. Tim president and CEO of , says steps such as installing auxiliaryg power units in all the tractors inhis company’se fleet has helped the company save on fuel The APUs allow drivers to have power in theid cabs when parked without idling the enginr and wasting fuel.
“We’ve found that an APU reduced our engines idlingby 2,000 hours a year (per Gatlin says. A tractor generallyg uses one gallon of diesel fuel per hourof idling. With a fleeyt of 200 tractors, the savings for Empirer can addup quickly. Gatlin says the APUs pay for themselve withina year. Gatlin says Empire has also startecdan in-house performance program which provides pay incentivexs for drivers to be fuel Blanton says the low costse of the measures, given fuel pricese and increased government and societal pressure to be will make the efficiency trend a lasting one for the truckingh industry.
Volatile fuel costs and changinfg industry standards have spurned a greater awareness of and effortf to operate more efficiently thussavingh money, with the added bonusezs of reducing emissions and improving public and customer As part of these efforts, many area companies participate in the , which is part of the . SmartWayt offers operation guidelines, certified equipment for efficiency compliance and providee efficiency ratings toparticipating companies.
The SmartWau program both identifies fuel saving strategies and provides tools for measuringy and enactingthose strategies, says Rick Blanton, vice presideny of loss prevention at “We’ve been able to reducre emissions up to 23% in some areas,” Blanton says. He says Comtrak has takenm steps such asusinvg low-friction drive train lubricants in all thei tractors, using large capacity trailers and low profile tires and reducingt the amount of space between the tractorr and the trailer, which improves the vehicle’ss aerodynamics.
Lancaster says Mid-South Transport limits the speedf of their tractors to 65 mph and only purchases engined and truck parts which complywith SmartWay, all in an effort to reduce emissions. Lancaster says there has beenan industry-wide turnaroundr in the approach to these issues since when changes were made to the engine requirements. Tim president and CEO of , says steps such as installing auxiliaryg power units in all the tractors inhis company’se fleet has helped the company save on fuel The APUs allow drivers to have power in theid cabs when parked without idling the enginr and wasting fuel.
“We’ve found that an APU reduced our engines idlingby 2,000 hours a year (per Gatlin says. A tractor generallyg uses one gallon of diesel fuel per hourof idling. With a fleeyt of 200 tractors, the savings for Empirer can addup quickly. Gatlin says the APUs pay for themselve withina year. Gatlin says Empire has also startecdan in-house performance program which provides pay incentivexs for drivers to be fuel Blanton says the low costse of the measures, given fuel pricese and increased government and societal pressure to be will make the efficiency trend a lasting one for the truckingh industry.
Wednesday, October 24, 2012
Tech giants launch october surprises - Boston Herald
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MyBroadband | Tech giants launch october surprises Boston Herald It's no coincidence that Apple scheduled pre-orders of its newly announced iPad Mini for Friday, the day of the Windows 8 launch. The Cupertino, Calif.-based giant unveiled a blockbuster array of new product offerings yesterday, including several ... Windows 8 launch pricing for SA e merges iPad Mini and Surface launch: the tablet wars heat up Windows 8: The Most Confused OS Launch Ever |
Monday, October 22, 2012
Red Hat, Inc. Company Profile | RHAT Company Information
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We are a global leader in providing open source software solutions tothe enterprise, including our core enterpris e operating system platform, Red Hat Enterprise Linux and enterprise middlewar e platform, JBoss Enterprise Middleware and other Red Hat enterprises technologies. Open source software is an alternative to proprietaru software and represents a different model for the development and licensing of commercialp software code than that typically used forproprietarh software. Because open source softward code isfreely shared, theree are customarily no licensing fees for the distributiojn of the open source Therefore, we do not recognize revenue from the licensinf of the code itself.
We provide value to our customerw throughthe aggregation, integration, testing, certification, delivery, maintenancr and support of our Red Hat enterprise and by providing a level of stability and accountability for the enterprisde technologies we package and distribute. Moreover, because communities of developere not employed by us assist with the creation of our opensourcde offerings, opportunities for further innovation of our offerings are supplemented by these We sell our enterprisde technologies through subscriptions, and we recognize revenude over the period of the subscriptio agreements with our customers. ...
We are a global leader in providing open source software solutions tothe enterprise, including our core enterpris e operating system platform, Red Hat Enterprise Linux and enterprise middlewar e platform, JBoss Enterprise Middleware and other Red Hat enterprises technologies. Open source software is an alternative to proprietaru software and represents a different model for the development and licensing of commercialp software code than that typically used forproprietarh software. Because open source softward code isfreely shared, theree are customarily no licensing fees for the distributiojn of the open source Therefore, we do not recognize revenue from the licensinf of the code itself.
We provide value to our customerw throughthe aggregation, integration, testing, certification, delivery, maintenancr and support of our Red Hat enterprise and by providing a level of stability and accountability for the enterprisde technologies we package and distribute. Moreover, because communities of developere not employed by us assist with the creation of our opensourcde offerings, opportunities for further innovation of our offerings are supplemented by these We sell our enterprisde technologies through subscriptions, and we recognize revenude over the period of the subscriptio agreements with our customers. ...
Sunday, October 21, 2012
Analyse this: why SMBs can read between the lines of analyst reports - Cloud Pro
ekaterinaiuvo.blogspot.com
Analyse this: why SMBs can read between the lines of analyst reports Cloud Pro The IT industry is a complicated place, with new technologies coming along in a seemingly endless stream. Unless you're a vast business with a huge staff of technology specialists it's impossible to keep up with new developments, which means as an SMB, ... |
Friday, October 19, 2012
Hawker Beechcraft to explore options with its jet business [The Wichita Eagle] - Businessweek
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Hawker Beechcraft to explore options with its jet business [The Wichita Eagle] Businessweek Oct. 18--After failing to reach a deal with Superior Aircraft Beijing, Hawker Beechcraft's top official said the company is exploring interest that has been expressed by outside parties for its corporate jet business. "The interest that has been ... |
Thursday, October 18, 2012
Mortgage rates fall a second week - Baltimore Business Journal:
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's weekly report says 30-yead fixed-rate mortgages averaged 5.2 percent this down from last week's average of 5.32 A year ago, 30-year mortgages were averagingg 6.37 percent, although rates fell below 5 percent earliefthis year. The nation’s job marker is one factor thought to be influencintmortgage rates. “Interest rates for 30-year fixed-rat e mortgages fell to the lowest level in six weeks amid marker concerns over a weakeninglabor market,” said Freddie Mac chief economist Frank Nothaft. “The economy lost 467,0000 jobs in June, more than the market and the unemployment rate roseto 9.5 percent, the highesy since August 1983.
” this week in mortgagd applications, as refinancing activity jumped and applicationsx to purchase homes rose to the highes t level in three months. Those with more than one mortgaged obligationare struggling. The reported this week that the number of home equityt loans thatwere 30-days or more delinquent rose to a recorc high of 3.52 percenyt in the first quarter and home equitt lines of credit in default also reached a recored of 1.89 percent.
's weekly report says 30-yead fixed-rate mortgages averaged 5.2 percent this down from last week's average of 5.32 A year ago, 30-year mortgages were averagingg 6.37 percent, although rates fell below 5 percent earliefthis year. The nation’s job marker is one factor thought to be influencintmortgage rates. “Interest rates for 30-year fixed-rat e mortgages fell to the lowest level in six weeks amid marker concerns over a weakeninglabor market,” said Freddie Mac chief economist Frank Nothaft. “The economy lost 467,0000 jobs in June, more than the market and the unemployment rate roseto 9.5 percent, the highesy since August 1983.
” this week in mortgagd applications, as refinancing activity jumped and applicationsx to purchase homes rose to the highes t level in three months. Those with more than one mortgaged obligationare struggling. The reported this week that the number of home equityt loans thatwere 30-days or more delinquent rose to a recorc high of 3.52 percenyt in the first quarter and home equitt lines of credit in default also reached a recored of 1.89 percent.
Wednesday, October 17, 2012
Creating joy through Ventriloquism, comedy & magic - Montgomery Newspapers
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Creating joy through Ventriloquism, comedy & magic Montgomery Newspapers Situated between the banks of the Schuylkill and Delaware rivers, the wooded sanctuary of Valley Forge is known for its tales of hardship during the Revolutionary period. Earlier this year, the Pennsylvania suburb also became familiar to visitors ... |
Monday, October 15, 2012
Taylor & Mathis takes leasing duties, agents from Advantis - Atlanta Business Chronicle:
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First, it took over leasing duties on three Tampz properties it managesfrom Then, in a move aimeds at continuity, it hired the leasing agents who worked for Advantisa at those buildings. Ann Adams and Irenee Martinez are set to joinTaylor & Mathis startint April 1. They will be responsible for leasing availablr space atOne MetroCenter, Center Poinf Business Park and Tampa Distribution The properties total 1.5 millionm square feet and are ownedx by Metropolitan Life Insurance Co. Taylor & Mathis have managed them sincee 1998. The Atlanta-based real estate firm also manages the VerizonjWireless Inc. building in Tampa and The Conceptdin Clearwater.
"One of the main focuses of our businesw plan has been to expand in the Tampa Bay saidAndrew Taylor, president of Taylod & Mathis. "This is certainly a big step inthat Adams, who will serve as managing director of has been active in the local commercial market sincer 1984. She previously served with Paragon Group, for which she was in charge of leasinghOne MetroCenter, and was with Advantis for the past three years. Martinez, who will serve as director of began her real estate career in 1996 with Florida Real Estate which was acquired byThe St. Joe Co. in 1999 and mergesd with an Atlanta firm toform Advantis.
She is crediteed with maintaining occupancy levels greater than 95 percentat MetLife'xs local properties. Adams said Taylor & focus on landlord representation was a deciding factor in herand Martinez's decisions to changew firms. "Having one company handling both function s makes a lotof sense," Adams said. "I'nm leaving one excellent company for Taylor & Mathis, established in 1967, provideds real estate services in the officew and industrial sectors. It leases and manages a total portfolioof 9.4 million square feet, including nearly 4 million in No changes are in store at the Tampaa office of Grubb & Ellis Co.
, although its New York-basedd parent recently announced job cuts and other overhead reduction. Grubb & Ellis employs abou t 30 at its RockgPoint offices, said Jeff Sweeney, the company' s regional manager for Tampa and Orlando. The cost-savingt measures aren't expected locally because both those officesware productive, he said. "We're still growing both the centrallFlorida offices," Sweeney said. Grubb Ellis announced the cost-cutting measures earlier this The business advisory company stated that it expects to reduce overheadby $13.5 million annually and is looking for more ways to streamlind operations. Jones Lang LaSalle Inc.
has been retained to sell 29 retaill big-box locations nationwide, including two in the Bay area. Sealerd bids will be accepted on the which rangebetween 32,000 and 135,0009 square feet, until April 12. The locak properties are at 800515th St. in Sarasota with 118,8489 square feet on 20 acres and at3600 U.S. 98 Nortgh in Lakeland with 111,322 square feet on 9.4 More information is availablwe online from Jones Lang LaSalleat , or by callingh (800) 527-2553, ext. 10. • TriMar Construction Inc. in Tampa was hired by Faller Davis Associates Inc. to build a 10,000-square-foot engineering office at 5525 W. Cypressx St., Tampa. • Interior Design Services Inc. will assisrt T.
Rowe Price Servicexs Inc. in its relocation to Corporate Centef Two at International Plazain • Judy Genshaft, president of the University of South Florida, will address the Building Owners and Manager s Association on March 27 at The Universitt Club in Tampa. For information, call (813) 866-3215.
First, it took over leasing duties on three Tampz properties it managesfrom Then, in a move aimeds at continuity, it hired the leasing agents who worked for Advantisa at those buildings. Ann Adams and Irenee Martinez are set to joinTaylor & Mathis startint April 1. They will be responsible for leasing availablr space atOne MetroCenter, Center Poinf Business Park and Tampa Distribution The properties total 1.5 millionm square feet and are ownedx by Metropolitan Life Insurance Co. Taylor & Mathis have managed them sincee 1998. The Atlanta-based real estate firm also manages the VerizonjWireless Inc. building in Tampa and The Conceptdin Clearwater.
"One of the main focuses of our businesw plan has been to expand in the Tampa Bay saidAndrew Taylor, president of Taylod & Mathis. "This is certainly a big step inthat Adams, who will serve as managing director of has been active in the local commercial market sincer 1984. She previously served with Paragon Group, for which she was in charge of leasinghOne MetroCenter, and was with Advantis for the past three years. Martinez, who will serve as director of began her real estate career in 1996 with Florida Real Estate which was acquired byThe St. Joe Co. in 1999 and mergesd with an Atlanta firm toform Advantis.
She is crediteed with maintaining occupancy levels greater than 95 percentat MetLife'xs local properties. Adams said Taylor & focus on landlord representation was a deciding factor in herand Martinez's decisions to changew firms. "Having one company handling both function s makes a lotof sense," Adams said. "I'nm leaving one excellent company for Taylor & Mathis, established in 1967, provideds real estate services in the officew and industrial sectors. It leases and manages a total portfolioof 9.4 million square feet, including nearly 4 million in No changes are in store at the Tampaa office of Grubb & Ellis Co.
, although its New York-basedd parent recently announced job cuts and other overhead reduction. Grubb & Ellis employs abou t 30 at its RockgPoint offices, said Jeff Sweeney, the company' s regional manager for Tampa and Orlando. The cost-savingt measures aren't expected locally because both those officesware productive, he said. "We're still growing both the centrallFlorida offices," Sweeney said. Grubb Ellis announced the cost-cutting measures earlier this The business advisory company stated that it expects to reduce overheadby $13.5 million annually and is looking for more ways to streamlind operations. Jones Lang LaSalle Inc.
has been retained to sell 29 retaill big-box locations nationwide, including two in the Bay area. Sealerd bids will be accepted on the which rangebetween 32,000 and 135,0009 square feet, until April 12. The locak properties are at 800515th St. in Sarasota with 118,8489 square feet on 20 acres and at3600 U.S. 98 Nortgh in Lakeland with 111,322 square feet on 9.4 More information is availablwe online from Jones Lang LaSalleat , or by callingh (800) 527-2553, ext. 10. • TriMar Construction Inc. in Tampa was hired by Faller Davis Associates Inc. to build a 10,000-square-foot engineering office at 5525 W. Cypressx St., Tampa. • Interior Design Services Inc. will assisrt T.
Rowe Price Servicexs Inc. in its relocation to Corporate Centef Two at International Plazain • Judy Genshaft, president of the University of South Florida, will address the Building Owners and Manager s Association on March 27 at The Universitt Club in Tampa. For information, call (813) 866-3215.
Sunday, October 14, 2012
Dallas City Council Authorizes Sale of Bonds to Build Omni Dallas Convention Center Hotel
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"Clearly we've already seen a tremendous response to the hotel in terms of futureconvention bookings," said Mayort . "Now, we just have to sell the bonds, get to work and finisu the hotel in time for groups showing up inJanuary 2012." "We have received overwhelming positive feedbacl and interest from meeting planners and associations acrosws the nation in regard to the hotel," said , president and CEO for the Dallas Conventiomn & Visitors Bureau. "Alontg with Omni Hotels, we are ready to book meetings and conventionasfor Dallas." In February Omni Hotels was selecteds to operate the Dallas Convention Centerr Hotel.
The planned hotel will be connected tothe , one of the largesyt in the US with over one million square feet of exhibit space, to attract more meetings and conventionsx to Dallas. The current desighn of the hotel includesover 80,000 square feet of meeting several restaurants and lounges and a signatures spa. "Omni congratulates the mayor and City Councip for their efforts everuy step of the way throughthis process," said , president for Omni "The Omni Dallas Convention Center Hotel is important to the economicf growth of our city, and we are ready to move forward. The luxury hotel brand is headquartered in Las Colinazs and currently has three hotels locatef in the Dallas FortWorth area.
Omni Hotele creates compelling, memorable guest experiences at 43 luxury hotels and resort s in leading business gateways and leisure destinations acrossNorth America. From exceptional golf and spa retreatz to dynamic business each locationfeatures four-diamond including award-winning signature restaurants, Wi-Fi connectivity and unique fitness options. Omni's mission for total customefr service is further supported byits "Power of One" program that empowers associates to make on-the-spott decisions to meet or exceed guest Guests can locate hotels and book accommodations by visiting or by callingt 1-800-THE-OMNI. Dallas is a destination that inspireszbig ideas. As the No.
1 visitor destinatiobn in Texas, the Dallas area offers the best shoppingv inthe Southwest, a cutting-edge culinar y scene led by nationally acclaimed celebrity chefs, 70,000 hotelk rooms, ranging from luxurg to boutique, and more than 200 golf The city boasts the largest contiguous urban arts districr in the U.S. with five cultural venuese designed byPritzker Prize-winning architects. In the Dallas metropolitan area is the only one in the Southwesr to host teams representing five major professionalsportsz leagues, including the legendary Dallas Cowboys. The Dalla area is also the largest film and televisionm production center in Texas and the location of the DallaswFilm Commission.
For additional informationm aboutthe city, see . Live Large. Think
"Clearly we've already seen a tremendous response to the hotel in terms of futureconvention bookings," said Mayort . "Now, we just have to sell the bonds, get to work and finisu the hotel in time for groups showing up inJanuary 2012." "We have received overwhelming positive feedbacl and interest from meeting planners and associations acrosws the nation in regard to the hotel," said , president and CEO for the Dallas Conventiomn & Visitors Bureau. "Alontg with Omni Hotels, we are ready to book meetings and conventionasfor Dallas." In February Omni Hotels was selecteds to operate the Dallas Convention Centerr Hotel.
The planned hotel will be connected tothe , one of the largesyt in the US with over one million square feet of exhibit space, to attract more meetings and conventionsx to Dallas. The current desighn of the hotel includesover 80,000 square feet of meeting several restaurants and lounges and a signatures spa. "Omni congratulates the mayor and City Councip for their efforts everuy step of the way throughthis process," said , president for Omni "The Omni Dallas Convention Center Hotel is important to the economicf growth of our city, and we are ready to move forward. The luxury hotel brand is headquartered in Las Colinazs and currently has three hotels locatef in the Dallas FortWorth area.
Omni Hotele creates compelling, memorable guest experiences at 43 luxury hotels and resort s in leading business gateways and leisure destinations acrossNorth America. From exceptional golf and spa retreatz to dynamic business each locationfeatures four-diamond including award-winning signature restaurants, Wi-Fi connectivity and unique fitness options. Omni's mission for total customefr service is further supported byits "Power of One" program that empowers associates to make on-the-spott decisions to meet or exceed guest Guests can locate hotels and book accommodations by visiting or by callingt 1-800-THE-OMNI. Dallas is a destination that inspireszbig ideas. As the No.
1 visitor destinatiobn in Texas, the Dallas area offers the best shoppingv inthe Southwest, a cutting-edge culinar y scene led by nationally acclaimed celebrity chefs, 70,000 hotelk rooms, ranging from luxurg to boutique, and more than 200 golf The city boasts the largest contiguous urban arts districr in the U.S. with five cultural venuese designed byPritzker Prize-winning architects. In the Dallas metropolitan area is the only one in the Southwesr to host teams representing five major professionalsportsz leagues, including the legendary Dallas Cowboys. The Dalla area is also the largest film and televisionm production center in Texas and the location of the DallaswFilm Commission.
For additional informationm aboutthe city, see . Live Large. Think
Friday, October 12, 2012
Magazine honors The Children's Hospital - Triangle Business Journal:
azajir.wordpress.com
The hospital qualified for the magazine’s “Honord Roll” in its 2009 edition of America’s Best Children’s Hospitals. The Honotr Roll is reserved for hospitales that achieved ranking in all surveyedd specialty areas covered by the monthlynews publication. Children’s ranked in the top 10 in six specialtyt areas, including cancer (No. 10), diabetes and endocrin disorders (No. 10), digestive disorderss (No. 5), neonatal care (No. 8), orthopedicss (No. 8) and respiratorty disorders (No. 5). Last year, Children’z was ranked No. 7 overall among the nation’s pediatricd hospitals. In 2007, it finisheds at No. 4.
Because of a changed in how the report was there was no general numerical rankinghthis year.
The hospital qualified for the magazine’s “Honord Roll” in its 2009 edition of America’s Best Children’s Hospitals. The Honotr Roll is reserved for hospitales that achieved ranking in all surveyedd specialty areas covered by the monthlynews publication. Children’s ranked in the top 10 in six specialtyt areas, including cancer (No. 10), diabetes and endocrin disorders (No. 10), digestive disorderss (No. 5), neonatal care (No. 8), orthopedicss (No. 8) and respiratorty disorders (No. 5). Last year, Children’z was ranked No. 7 overall among the nation’s pediatricd hospitals. In 2007, it finisheds at No. 4.
Because of a changed in how the report was there was no general numerical rankinghthis year.
Thursday, October 11, 2012
EBay makes a bid for daily-deal market - NBCNews.com (blog)
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BasicsMedia | EBay makes a bid for daily-deal market NBCNews.com (blog) The daily deal arena just got a little more crowded with the entrance of eBay. Analysts say the e-commerce heavyweight could inadvertently give a boost to beleaguered category leader Groupon. “I think it kinds of validates the daily deal space since so ... EBay moves int o daily deals, while Groupon and LivingSocial diversify Ebay (NASDAQ:EBAY) Daily Deal Days Amidst Daily Deals Market Shuffle, Are Major Changes on the Horizon? |
Wednesday, October 10, 2012
Renaissance owners to miss June debt payment - Triangle Business Journal:
qalymeled.wordpress.com
million interest payment due on the hotelthis Monday, according to a notices posted Thursday on the trustee bondholder’a Web site. The hotel in the 800 block of Washingtonm Avenue that opened in 2003 has failes to make revenue projections since it opened. The Renaissance Grandr has 1,083 hotel rooms and 45,000 square feet of meetint space. In the notice to bondholders, trustee reportecd that the interest payment due Monday will notbe paid. “Givehn the uncertainties regarding the status of the the timing and amount of future paymentsa of the debt serviceis unpredicted,” the bank Interest payments of $3.
5 million are due in June and Gateway Hotel Partners is comprised of Housinh Horizons, a subsidiary of Dallas-based and New Orleans-basedx . Gateway Hotel Partners defaulted ona $3.5 million interesft payment due Dec. 15. The hotel was foreclosed on in February, and the sole bid for the hotelo was made by the trusteefor $98 the amount of debt on the is serving as a consultant to advis e the owners of the Renaissance on strategies to cut cost s and boost profitability. in the noticd to bondholders, Jones Lang LaSalle reported that house profitr in recent months were substantiallybelow budget. Occupancy at the hotell throughApril 24, 2009, was 42.
5 percent, a more than 17 percent decline from the same time period din 2008. The St. Louids market-wide occupancy average was 54.2 The hotel’s revenue through April 24, 2009 was $10,084,434, short of the hotel’z budget of $10,820,942. “Ths hotel, as a result of weak economi c conditions, continues to experience littl to no pickup in grouproomx ... and transient demand levels remai weak,” the Jones Lang LaSalle Hotelsrepory stated.
million interest payment due on the hotelthis Monday, according to a notices posted Thursday on the trustee bondholder’a Web site. The hotel in the 800 block of Washingtonm Avenue that opened in 2003 has failes to make revenue projections since it opened. The Renaissance Grandr has 1,083 hotel rooms and 45,000 square feet of meetint space. In the notice to bondholders, trustee reportecd that the interest payment due Monday will notbe paid. “Givehn the uncertainties regarding the status of the the timing and amount of future paymentsa of the debt serviceis unpredicted,” the bank Interest payments of $3.
5 million are due in June and Gateway Hotel Partners is comprised of Housinh Horizons, a subsidiary of Dallas-based and New Orleans-basedx . Gateway Hotel Partners defaulted ona $3.5 million interesft payment due Dec. 15. The hotel was foreclosed on in February, and the sole bid for the hotelo was made by the trusteefor $98 the amount of debt on the is serving as a consultant to advis e the owners of the Renaissance on strategies to cut cost s and boost profitability. in the noticd to bondholders, Jones Lang LaSalle reported that house profitr in recent months were substantiallybelow budget. Occupancy at the hotell throughApril 24, 2009, was 42.
5 percent, a more than 17 percent decline from the same time period din 2008. The St. Louids market-wide occupancy average was 54.2 The hotel’s revenue through April 24, 2009 was $10,084,434, short of the hotel’z budget of $10,820,942. “Ths hotel, as a result of weak economi c conditions, continues to experience littl to no pickup in grouproomx ... and transient demand levels remai weak,” the Jones Lang LaSalle Hotelsrepory stated.
Monday, October 8, 2012
Biscayne Landing loan in default - Atlanta Business Chronicle:
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Boca Developers is in defaul t onits $110 million mortgage on the 188-acrde Biscayne Landing site and is negotiating a stipulatefd foreclosure agreement with the lender, one ratings servicee said. North Miami Mayor Kevin Burns said Boca Developer s could still strike a deal withits “We very much want to remain as the but whether we can do we don’t know,” said Ted executive VP and general counsel at Boca Boca Developers’ Web site lists a $10 billion portfolioo of more than 16,000 residences, but its loan problemzs have involved a who’sw who of financial institutions: , an affiliate of equityg investment giant Capital bankrupt and , which was takehn over by .
The blow is even though, for the predominantly black, working-class city of North City leaders hoped Biscayne Landinv would fueleconomic growth, with 5,9909 new residences and funding for the same numbetr of affordable housing units. Miamk developer Michael Swerdlow helped secure the Biscayner Landing deal withBoca Developers, whicb in 2006 bought out his interesyt in the project. Boca Developers completex the 373-unit the Oaks at Biscayne Landing, but turned it over to a Cerberud affiliate in 2008 amidslow sales. Residents still wonder when their swimming pool willbe done.
In response to the real estatwe downturn, the developer won a change in the remaining part of Biscayne Landing to reduce the residential portionh and increase thecommercial component, but could not get funding, Burns The first mortgage holder, a commerciakl mortgage-backed securities (CMBS) pool managed by Credit Suisse, is movinvg closer to taking over the 99-yearr city lease on acreage from Biscaynee Landing LLC, an affiliate of Boca Developers. Burnsx said Credit Suisse is seekinganothere developer, but so far has had no “The bank is laying the groundwork for [Boca Developers’] exit,” he said.
“Thwe issues that the bank considerzs a burden to bringing inanother developer, they are goinyg to work through.” Separate reports from Fitch Ratings in February and San Francisco-based CMBS.com in December – said the $110 million CMBS mortgag e to Biscayne Landing is delinquentg and was moved to a special distressed asset servicerf after the developer misse d mandatory prepayments of $17 million and $95 milliojn last year. The loan matures on May 9.
It was previouslg in forbearance, as the lender agreesd to hold off ontaking action, despite missec payments, according to the The developer is cooperating in negotiating a stipulateds foreclosure agreement with the lender, Bethesda, Md.-based on April 10. Stotzer said a foreclosure is possibl e as the loan is in but the lender could agree to extend the maturit y until theeconomy improves. Boca Developers was in the same positionb with the bulk of its portfolilo before a Cerberus affiliate took overseveraol projects. Burns said the lender wants to eliminatre the requirement that the Biscaynse Landing developer build one affordable unit forevery market-rate unit completed.
The lender sees that requiremenf as a poison pill for any prospective developer that may want to take on the Burns explained. So far, Boca affordable housing venture has yet to complete asinglw residence, although the renovation of an existing apartmen t building is under way. The city’s communitgy redevelopment agency was formed to feed off the tax revenueds from the development planned atBiscaynee Landing.
Other issues raised by Credit Suisse involve changing the terms on millions owed to the city for a Olympic training facility andart
Boca Developers is in defaul t onits $110 million mortgage on the 188-acrde Biscayne Landing site and is negotiating a stipulatefd foreclosure agreement with the lender, one ratings servicee said. North Miami Mayor Kevin Burns said Boca Developer s could still strike a deal withits “We very much want to remain as the but whether we can do we don’t know,” said Ted executive VP and general counsel at Boca Boca Developers’ Web site lists a $10 billion portfolioo of more than 16,000 residences, but its loan problemzs have involved a who’sw who of financial institutions: , an affiliate of equityg investment giant Capital bankrupt and , which was takehn over by .
The blow is even though, for the predominantly black, working-class city of North City leaders hoped Biscayne Landinv would fueleconomic growth, with 5,9909 new residences and funding for the same numbetr of affordable housing units. Miamk developer Michael Swerdlow helped secure the Biscayner Landing deal withBoca Developers, whicb in 2006 bought out his interesyt in the project. Boca Developers completex the 373-unit the Oaks at Biscayne Landing, but turned it over to a Cerberud affiliate in 2008 amidslow sales. Residents still wonder when their swimming pool willbe done.
In response to the real estatwe downturn, the developer won a change in the remaining part of Biscayne Landing to reduce the residential portionh and increase thecommercial component, but could not get funding, Burns The first mortgage holder, a commerciakl mortgage-backed securities (CMBS) pool managed by Credit Suisse, is movinvg closer to taking over the 99-yearr city lease on acreage from Biscaynee Landing LLC, an affiliate of Boca Developers. Burnsx said Credit Suisse is seekinganothere developer, but so far has had no “The bank is laying the groundwork for [Boca Developers’] exit,” he said.
“Thwe issues that the bank considerzs a burden to bringing inanother developer, they are goinyg to work through.” Separate reports from Fitch Ratings in February and San Francisco-based CMBS.com in December – said the $110 million CMBS mortgag e to Biscayne Landing is delinquentg and was moved to a special distressed asset servicerf after the developer misse d mandatory prepayments of $17 million and $95 milliojn last year. The loan matures on May 9.
It was previouslg in forbearance, as the lender agreesd to hold off ontaking action, despite missec payments, according to the The developer is cooperating in negotiating a stipulateds foreclosure agreement with the lender, Bethesda, Md.-based on April 10. Stotzer said a foreclosure is possibl e as the loan is in but the lender could agree to extend the maturit y until theeconomy improves. Boca Developers was in the same positionb with the bulk of its portfolilo before a Cerberus affiliate took overseveraol projects. Burns said the lender wants to eliminatre the requirement that the Biscaynse Landing developer build one affordable unit forevery market-rate unit completed.
The lender sees that requiremenf as a poison pill for any prospective developer that may want to take on the Burns explained. So far, Boca affordable housing venture has yet to complete asinglw residence, although the renovation of an existing apartmen t building is under way. The city’s communitgy redevelopment agency was formed to feed off the tax revenueds from the development planned atBiscaynee Landing.
Other issues raised by Credit Suisse involve changing the terms on millions owed to the city for a Olympic training facility andart
Sunday, October 7, 2012
Obama played bad defense against an articulate, high-scoring Romney (+video) - Christian Science Monitor
guronelogoh.blogspot.com
Christian Science Monitor | Obama played bad defense against an articulate, high-scoring Romney (+video) Christian Science Monitor ... may have been the only one in the arena who believed that it was, at least for him. His weary cadence throughout the night was a sad contrast with Romney's sunny intensity and articulate flow of figures and facts, even if some o f the facts were ... Kelly McParland: US debate offers voters a clear-cut choice between two ... Romney won the debate because he clearly explained a better solution Obama, Romney debate sheds little light on healthcare issues |
Saturday, October 6, 2012
Grede Foundries files for bankruptcy protection - Houston Business Journal:
eragywaqer.wordpress.com
Wayzata Investment Partners LLCof Minn., an SEC-registered investment adviser and managefr of private investment funda with more than $5 billion in has offered to provide a $45 million temporary loan facilityt to allow time for an orderlyu sale under the supervision of the Bankruptcy Since 1992, Wayzata has invested more than $12 billio in more than 600 investments. The made Tuesday in the U.S.
Bankruptcty Court for the Westerjn Districtof Wisconsin, was driven by the impact of the curren t economic downturn on the company and its customers, particularly the automotive said Richard Koenings chairman of the boarx of directors for Wauwatosa-based The reorganization and asset sale is expected to positiomn the company for a turnaround as the countrhy emerges from the most difficult economic period it has seen in he said. “The significant deterioration in the automotived and construction industries and the resulting impacrt on our company and the foundrgy industry in general require that we take thisstrategic action,” Koenings said.
“We have carefully exploredr many options, and believe a sale to a strong financiaol backer like Wayzata is the best way to effectively proceed in what has been an exceedinglydifficulr marketplace.” Koenings stressed that Grede Foundriesx remains in business and that jobs will remaijn during the transition. “Thisd move gives us the time to restructure while we continure to do business and operate our he said. “Grede will continur to buy goods and serviceds fromits vendors, support its work forcd and provide its customers with the same qualityy products and service they’ve come to expect from us.
Our goal is to preservew and strengthen our business so that we can competde successfully inthe future.” Wayzata has also agreed to make the firstt bid, often called a “stalkinvg horse” bid, for Grede. “Wayzata’s commitmenf shows their belief in the strengtn of the Grede name and its respecter position in thefoundry industry,” Koeningw said. Sales of businesses in bankruptcg proceedings are often structured wherw one company makes the initial bid foranother company’ds assets.
Under rules approved by the court, higher offers from thirs parties can be submitted as competing The “stalking horse” arrangement helps ensurwe that Grede receives the best value for its assets and allows for offerw that are best for the creditors whilse preserving the business operations, company management said. Grede said that it has alreadhy received inquiries from other parties that are interestedin Grede’s production capacity. Koeningds said Grede expects the sale and relates bidding process to move steadily through thecourtt system.
“We are deeply committe to doing everything necessary to put our company on solifd footing as the nation begins to rise out of the worst economic conditions since theGreat Depression,” he said. “Oufr customers very clearly want us to succeee and have beenvery supportive.” Grede announced in May that it had laid off 81 employeeds from its foundry in Wauwatosa since the end of In April, the company revealed plans to close its foundr in Greenwood, S.C.
Wayzata Investment Partners LLCof Minn., an SEC-registered investment adviser and managefr of private investment funda with more than $5 billion in has offered to provide a $45 million temporary loan facilityt to allow time for an orderlyu sale under the supervision of the Bankruptcy Since 1992, Wayzata has invested more than $12 billio in more than 600 investments. The made Tuesday in the U.S.
Bankruptcty Court for the Westerjn Districtof Wisconsin, was driven by the impact of the curren t economic downturn on the company and its customers, particularly the automotive said Richard Koenings chairman of the boarx of directors for Wauwatosa-based The reorganization and asset sale is expected to positiomn the company for a turnaround as the countrhy emerges from the most difficult economic period it has seen in he said. “The significant deterioration in the automotived and construction industries and the resulting impacrt on our company and the foundrgy industry in general require that we take thisstrategic action,” Koenings said.
“We have carefully exploredr many options, and believe a sale to a strong financiaol backer like Wayzata is the best way to effectively proceed in what has been an exceedinglydifficulr marketplace.” Koenings stressed that Grede Foundriesx remains in business and that jobs will remaijn during the transition. “Thisd move gives us the time to restructure while we continure to do business and operate our he said. “Grede will continur to buy goods and serviceds fromits vendors, support its work forcd and provide its customers with the same qualityy products and service they’ve come to expect from us.
Our goal is to preservew and strengthen our business so that we can competde successfully inthe future.” Wayzata has also agreed to make the firstt bid, often called a “stalkinvg horse” bid, for Grede. “Wayzata’s commitmenf shows their belief in the strengtn of the Grede name and its respecter position in thefoundry industry,” Koeningw said. Sales of businesses in bankruptcg proceedings are often structured wherw one company makes the initial bid foranother company’ds assets.
Under rules approved by the court, higher offers from thirs parties can be submitted as competing The “stalking horse” arrangement helps ensurwe that Grede receives the best value for its assets and allows for offerw that are best for the creditors whilse preserving the business operations, company management said. Grede said that it has alreadhy received inquiries from other parties that are interestedin Grede’s production capacity. Koeningds said Grede expects the sale and relates bidding process to move steadily through thecourtt system.
“We are deeply committe to doing everything necessary to put our company on solifd footing as the nation begins to rise out of the worst economic conditions since theGreat Depression,” he said. “Oufr customers very clearly want us to succeee and have beenvery supportive.” Grede announced in May that it had laid off 81 employeeds from its foundry in Wauwatosa since the end of In April, the company revealed plans to close its foundr in Greenwood, S.C.
Thursday, October 4, 2012
Obama memo against pre-emption has critics worrying about lawsuits - Atlanta Business Chronicle:
vuwodu.wordpress.com
A May 20 memo from Obama also directeed agencies to review regulations issued during the past 10 yeards to see if theycontained pre-emptions that are not If they do, agencies should considet amending the regulations, the memo stated. “Pre-emption of statde law by executive department and agencies should be undertaken only with full consideratiojn of the legitimate prerogatives of the statesd and with a sufficient legal basiafor pre-emption,” the memo states. Durinf the Bush administration, regulatory agencies sometimewincluded pre-emption language in the preambleas of regulations.
Obama’s policy against federal pre-emptioh of state laws will result in more lawsuitsaagainst businesses, particularly in the area of producft liability, according to the and the . “Manufacturerzs sell products into anational market, and a national regulatory standard helps ensurer predictable treatment in the courts,” said association Vice President Rosarioi Palmieri. “It’s unwise to replace a regulator system based on objective science and agencyy experts witha 50-state patchwork of oftenn arbitrary jury decisions. Lisa Rickard, president of the , said the memo was a gift to lawyers.
“Removing pre-emption runs completely counter to the goal of stabiliziny the economy andgrowint jobs, except for thos e in the lawsuit business,” she said. The , formerly known as the , praised Obama’xs memo. It “makes cleard that the rule of law will once again prevailp over the ruleof politics,” said association President Les Weisbrod. “The memo overturne d actions taken by Bush administration bureaucrats who were influencecdby powerful, well-connected corporations who wanted to rewrite and reinterpreyt congressional legislation, undermine the constitutional system of checks and and put the public at risk and compromisde laws designed to give Americans basic rightxs to hold wrongdoers accountable.
” Microloanxs up, big loans down for small businessezs last year Lending data collected by the ’w Office of Advocacy confirms the importance of business credity cards to small firms. A new report foun d that the total valueof small-business loans outstandint increased by 4 percentt in the 12 months that ended in June 2008, down from the previou year’s increase of 8 percent. These numbers are for small-busines loans as a whole, not just SBA loans. The number of business loans of lessthan $100,000 jumped by nearlyg 16 percent, as largd lenders concentrated on credit cards, according to the study.
By contrast, the numberd of business loans inthe $100,000 to $1 milliomn range fell by more than 23 percent. The reportf used call reports submitted by banka as well as Community ReinvestmentAct data. Businessd loans of less than $1 million were considereds to be small-business loans. Based on call report data, the top five small-business lenderd in June 2008 were , , , and Presidenf Barack Obama has selected a ventur capitalist to be chief counsel of the SmalBusiness Administration’s Office of Advocacy, a post usually held by an Winslow Sargeant, a managing director in the technology practice of Madison, Wis.
-based Venturr Investors, is Obama’s choice to head the Officse of Advocacy. The office is an independent entity inside SBA that ensures that federal agenciesa consider the impact of theire regulations onsmall businesses. He is the second venture capitalistr to be selected for a top post atthe SBA. Agencyu Administrator Karen Mills worked as a principal in privatew equity and venture capitall firms for 26 years before she took over the SBA in Sargeant worked as a senior engineer at severap large corporationsbefore co-foundinv Aanetcom, a semiconductor chip compan y that later was acquired by From 2001 to 2005, he served as prograk manager for the Small Businesxs Innovation Research program at the ’s engineering directorate.
Sargeant’s lack of legap training means he will have to rely heavily on the attorneyx at the Office of Much ofthe office’s work involvese analyzing whether government agencies have followed federal laws that requires them to analyze the economic impact that proposer rules would have on small businesses. In fiscal 2008, this input saved small businessesabouft $11 billion in forgone regulatory according to the office.
A May 20 memo from Obama also directeed agencies to review regulations issued during the past 10 yeards to see if theycontained pre-emptions that are not If they do, agencies should considet amending the regulations, the memo stated. “Pre-emption of statde law by executive department and agencies should be undertaken only with full consideratiojn of the legitimate prerogatives of the statesd and with a sufficient legal basiafor pre-emption,” the memo states. Durinf the Bush administration, regulatory agencies sometimewincluded pre-emption language in the preambleas of regulations.
Obama’s policy against federal pre-emptioh of state laws will result in more lawsuitsaagainst businesses, particularly in the area of producft liability, according to the and the . “Manufacturerzs sell products into anational market, and a national regulatory standard helps ensurer predictable treatment in the courts,” said association Vice President Rosarioi Palmieri. “It’s unwise to replace a regulator system based on objective science and agencyy experts witha 50-state patchwork of oftenn arbitrary jury decisions. Lisa Rickard, president of the , said the memo was a gift to lawyers.
“Removing pre-emption runs completely counter to the goal of stabiliziny the economy andgrowint jobs, except for thos e in the lawsuit business,” she said. The , formerly known as the , praised Obama’xs memo. It “makes cleard that the rule of law will once again prevailp over the ruleof politics,” said association President Les Weisbrod. “The memo overturne d actions taken by Bush administration bureaucrats who were influencecdby powerful, well-connected corporations who wanted to rewrite and reinterpreyt congressional legislation, undermine the constitutional system of checks and and put the public at risk and compromisde laws designed to give Americans basic rightxs to hold wrongdoers accountable.
” Microloanxs up, big loans down for small businessezs last year Lending data collected by the ’w Office of Advocacy confirms the importance of business credity cards to small firms. A new report foun d that the total valueof small-business loans outstandint increased by 4 percentt in the 12 months that ended in June 2008, down from the previou year’s increase of 8 percent. These numbers are for small-busines loans as a whole, not just SBA loans. The number of business loans of lessthan $100,000 jumped by nearlyg 16 percent, as largd lenders concentrated on credit cards, according to the study.
By contrast, the numberd of business loans inthe $100,000 to $1 milliomn range fell by more than 23 percent. The reportf used call reports submitted by banka as well as Community ReinvestmentAct data. Businessd loans of less than $1 million were considereds to be small-business loans. Based on call report data, the top five small-business lenderd in June 2008 were , , , and Presidenf Barack Obama has selected a ventur capitalist to be chief counsel of the SmalBusiness Administration’s Office of Advocacy, a post usually held by an Winslow Sargeant, a managing director in the technology practice of Madison, Wis.
-based Venturr Investors, is Obama’s choice to head the Officse of Advocacy. The office is an independent entity inside SBA that ensures that federal agenciesa consider the impact of theire regulations onsmall businesses. He is the second venture capitalistr to be selected for a top post atthe SBA. Agencyu Administrator Karen Mills worked as a principal in privatew equity and venture capitall firms for 26 years before she took over the SBA in Sargeant worked as a senior engineer at severap large corporationsbefore co-foundinv Aanetcom, a semiconductor chip compan y that later was acquired by From 2001 to 2005, he served as prograk manager for the Small Businesxs Innovation Research program at the ’s engineering directorate.
Sargeant’s lack of legap training means he will have to rely heavily on the attorneyx at the Office of Much ofthe office’s work involvese analyzing whether government agencies have followed federal laws that requires them to analyze the economic impact that proposer rules would have on small businesses. In fiscal 2008, this input saved small businessesabouft $11 billion in forgone regulatory according to the office.
Wednesday, October 3, 2012
Hawaii contractors hear about new projects - Pacific Business News (Honolulu):
afyfojahejus.blogspot.com
The projects involve billions of dollars and thousands of jobsfor Hawaii. The largest of them woulde be the City and Countyof Honolulu’sd proposed rail transit project, which would inject $5 billion in spendingh and create 11,000 direcrt and indirect jobs over a 10-year buildr out, said Kyle Chock, executive directoe of , which sponsored Tuesday’s PRP is a joint program of the and some 200 unionizerd contractors in Hawaii. More immediate is the money that is supposedx to come from the federal government under PresidentBarack Obama’s stimulus bill.
Hawai is set to get abouf $807 million of the $787 billion in spendinyg authorized bythe legislation, according to the officee of U.S. Sen. Daniel Inouye, The state initially was supposed to get anestimatesd $717.8 million for formula-based program s alone, but will get an additional $89.4 millio through federal agency projects or through competitivw means, according to figures from Inouye’ds office. The state’s capital improvement program totals about $1.8 billion in projects that are out to bid, alreadh awarded, and under construction, said Russ Saito, directof of the state Department of Accountinbg and General Services.
That figure doesn’t include desigb and planning, which can account for 10 percenty ofthe total, he said. This is the righty time to make an investment inpublivc works, said Brennon Morioka, director of the statew Department of Transportation, which has proposed spending $4 billiohn over six years to upgradse the state’s highways. State lawmakers are consideringt legislation that would raise taxeas and fees byabout $170 per year for the average taxpaye r to finance that project. “When the private sector is weknow we’ll be getting from contractors and vendors, he said.
The Departmenf of Hawaiian Home Lands is working on hundrede of new homes on its landson Maui, Kauai and the Big Island, and has planss for hundreds more over the next 18 months, making it one of the largest residential real estate developers currentlgy in Hawaii, director Micah Kane said. The state Departmeng of Education and the also outlined their planse for construction over the next coupleof years, which include the new UH West Oahu DHHL also is working with the Hawaii Carpenters Union on a pre-apprenticeship program that givews the PRP’s union contractors exclusivity on the department’ss projects and in return enrolls the department’sd Hawaiian beneficiaries in a pre-apprenticeship program that can lead to an apprenticeship with the union.
The first class started in November 2008.
The projects involve billions of dollars and thousands of jobsfor Hawaii. The largest of them woulde be the City and Countyof Honolulu’sd proposed rail transit project, which would inject $5 billion in spendingh and create 11,000 direcrt and indirect jobs over a 10-year buildr out, said Kyle Chock, executive directoe of , which sponsored Tuesday’s PRP is a joint program of the and some 200 unionizerd contractors in Hawaii. More immediate is the money that is supposedx to come from the federal government under PresidentBarack Obama’s stimulus bill.
Hawai is set to get abouf $807 million of the $787 billion in spendinyg authorized bythe legislation, according to the officee of U.S. Sen. Daniel Inouye, The state initially was supposed to get anestimatesd $717.8 million for formula-based program s alone, but will get an additional $89.4 millio through federal agency projects or through competitivw means, according to figures from Inouye’ds office. The state’s capital improvement program totals about $1.8 billion in projects that are out to bid, alreadh awarded, and under construction, said Russ Saito, directof of the state Department of Accountinbg and General Services.
That figure doesn’t include desigb and planning, which can account for 10 percenty ofthe total, he said. This is the righty time to make an investment inpublivc works, said Brennon Morioka, director of the statew Department of Transportation, which has proposed spending $4 billiohn over six years to upgradse the state’s highways. State lawmakers are consideringt legislation that would raise taxeas and fees byabout $170 per year for the average taxpaye r to finance that project. “When the private sector is weknow we’ll be getting from contractors and vendors, he said.
The Departmenf of Hawaiian Home Lands is working on hundrede of new homes on its landson Maui, Kauai and the Big Island, and has planss for hundreds more over the next 18 months, making it one of the largest residential real estate developers currentlgy in Hawaii, director Micah Kane said. The state Departmeng of Education and the also outlined their planse for construction over the next coupleof years, which include the new UH West Oahu DHHL also is working with the Hawaii Carpenters Union on a pre-apprenticeship program that givews the PRP’s union contractors exclusivity on the department’ss projects and in return enrolls the department’sd Hawaiian beneficiaries in a pre-apprenticeship program that can lead to an apprenticeship with the union.
The first class started in November 2008.
Monday, October 1, 2012
USDOT awards grants for rail service study, electric locomotive research and ... - Progressive Rail Roading
andreychukuze.blogspot.com
USDOT awards grants for rail service study, electric locomotive research and ... Progressive Rail Roading The U.S. Department of Transportation (USDOT) recently provided $3.5 million in grants to improve freight- and passenger-rail service in Massachusetts, and help develop electric locomotive technology and a track safety system. The Federal Railroad ... |
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