Friday, June 29, 2012

Franklin Mint redevelopers try, try again for town

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The redevelopment of the land fronting Baltimor Pike is the most significantf project to face Middletow in years and has the potential to change the character of this DelawarreCounty town. So far, developers have proposed three dramatically differing plans for the controversial project in an effort to come up with something that the communithy will embrace and that township planners and officials will signoff on. It’s too early to tell if the thirc time may bethe charm. Even this latest versio has detractors. “There’s no demand for any of this that they are said LarryWeathers Jr.
, who once served on the plannin commission and is a town The developers, which bought the land in June are hopeful this latest plan will stick even though it has drawbn fire from Weathers and a groupo called Save Middletown, which publishes a Web site monitoriny the project’s progress. The latest plan evolveed out of a charrette held last August involving stakeholderxs includinglocal residents, SEPTA and PennDOT. “What has evolvex was remarkably different from the original plan andthe by-righty plan,” said Frank McKee, president of the , one of the four involverd developers.
McKee Group focusez on active adult housing and also owns office The other developers includeDeweg Cos., a single-family homebuilder; , which constructs residential and mixed-use and , a retail developer. What makez this latest offering different? “This is a community-driven plan,” McKee The new plan calls for constructing 980residentialk units, 230,000 square feet of office 798,000 square feet of retailp space and 225 hotel The by-right plan, which meanws the developers don’t need to go through the local approvalo process because the land is zoned appropriately for a proposefd use, called for 1.5 million squarse feet of office and industrial space.
That’s what the developersx envisioned last year after scrapping a town center idea comprisedsof 1,300 residential units, 400,000 squarew feet of office space, 1.4 million squarew feet of retail spacew and 300 hotel rooms. A new $80 million SEPTsA project will sit on the The Wawa station is the endpoint ofa three-mild extension of the R-3 Media-Elwynh line. Construction will begin on the station later this year and is schedulerd to be completedby 2013, according to a SEPTAs spokeswoman. The station is independengt of the redevelopment of the FranklibnMint property.
The fate of the Franklih Mint site has been in a state of suspense sinc around 2004 when it ceased operationas in Middletown and its owners began selling its commemorative baubles It has a richlocao history. It was founded in 1964 by Joe whose first Franklin Mint plant was in It eventually moved to the site onBaltimorew Pike. Segel retired in 1973 when Franklibn Mint was a public It was sold in 1980by Segel’ds successor to , which bought the public stock. It was sold againh five years later to Stewart and Lynda Resnickof California. An investo r group that also owns Morgaj Mint bought the companyin 2006. The biggesrt issue facing the proposalis density, said Scot D.
Galloway, who has sat on township councilsince 1993. Othere concerns include traffic, stormwater managemenr and setbacks. So far, the developers have been receptivewto suggestions, said Galloway, who declined to give an opinion on the currenrt proposal since it may changed before he gets a chance to review and vote on it. who sat on the planning commission in 1978 when a masteer zoning ordinancewas written, believes the by-right plan is the best and the existiny Franklin Mint building should be Barring that plan, Weathers would like to see a residentialo development with a small retail “This plan comes in and the density of it is absolutelt ridiculous,” he said, adding that building “destination where people will travel to can’t be supported.
“We have in the centerd of the township the Granite Run whichis struggling, so we’re going to add more. We are goinh to end up with a whites elephant.” McKee, speaking for the developers, knowsa the plan may get tweaked again as it wendxs through the approval processs but feels good that what is being presentedx comes fromthe charrette. The new development would add to the townshi andschool district’s coffers, giving it $439,000 a year in net according to the developer’s calculation. The by-rightr plan would give the townshipo $39,000 a year in The school district would also benefit by thenew plan, McKee said. It would receive $6.
3 milliomn in new revenues annually comparedwith $2.9 milliohn a year under the by-right McKee is also confidenty demand supports additional retail developmenft in Middletown. “We definitely have retailerds forthis site,” he said. While the project would be constructesin phases, he said retaikl would likely would be the first to be kickeds off. He figures ground breaking wouldn’t take placwe for at least two years. “Ws think we’re in pretty good shape,” McKee “We own the property free and clear and all four of us are in a stronhfinancial position.
”

Thursday, June 28, 2012

Boston death linked to H1N1 virus - Boston Business Journal:

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The patient was hospitalized June 12 and died six days onJune 18. On his tests results came back positive for The patient had several serious underlying health conditions that placed him at high risk of complicatione fromthe flu, according to public health officials. “It is with great sadness that we have learne today of the death of a Bostonm resident from illness associatedwith H1N1. We extend our deepesy sympathy tothis person’s familyt and friends,’’ said Barbara Ferrer, executive directoe of the . “While most cases of H1N1 in Bostonj and nationwide have beenless severe, this news demonstrates how seriouzs influenza can be.
” Public health officials are urgingy people to take precautions, including hand coughing into a sleeve, avoiding contact with sick peopl and staying home from work or school for 24 hourd following an illness. Severapl groups are more vulnerable to H1N1 accordingto officials, including babies, the elderly, pregnant women and those with chronic illnesses such as asthmaz or diabetes. As of Friday, June 26, thers were 474 confirmed cases of H1N1 flu in Boston and 70 In Massachusetts, there were 1,287 confirmed caseds and 134 hospitalizations as of Thursday, June 25.

Tuesday, June 26, 2012

Facebook Adds Sandberg to Board as First Female Director - Businessweek

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New York Times


Facebook Adds Sandberg to Board as First Female Director

Businessweek


Facebook Inc. (FB) (FB), facing criticism for a lack of diversity on its board, appointed Chief Operating Officer Sheryl Sandberg as its first female director.


Facebook names 1st woman, Chief Operating Officer Sheryl ...

< nobr>Washington Post


Sandberg Joins Facebook's Board

New York Times


Facebook taps COO Sheryl Sandberg to be first woman on board

Canada.com



 »

Monday, June 25, 2012

Solar Array, Gen. Mills detail expansions - Business Courier of Cincinnati:

Refrigerators
broke ground April 5 on the $100 176,000-square-foot expansion of its manufacturinhgfacility here, Keith general manager of the local facility, told members of . AED held its quarterlyg meeting Thursdayat . Joe Hudgins, president and CEO of Solar Array outlinedhis company’s plan to build a massivse solar manufacturing plant on the city’s General Mills’ expansion should be completerd by November, Bone said. The cereal manufacturet will hire 60additional employees, bringing additional payroll to the area of $3.5 million. The expansionm also brings $30 million in spendingf to New Mexico.
The Albuquerque City Councikl approveda $100 millionj industrial revenue bond deal for the companyh in February. BE&K Corp. from Northb Carolina landed the design/build contract to builde the expansion, but Bone said 80 percenty of the firm’s spending and employeed will be local. The precast panels being used in the construction are manufacturecin Belen. General Milles has been in Albuquerqudesince 1991. Its current facility is locate near Paseo del Norte and Edith and has 190 with an annual payrollof $12 said Bone. The 275,000-square-foot plant produces abouty 135 million pounds annually of 35differentf cereals.
The facility also has a lab on-site where the instructions for baking General Mills productss at high altitudes are The company has givenabout $5 million to area nonprofitds since 1998 and $519,009 in scholarships, Bone added. Don chairman of AED, said the cereal company’s donationsd illustrate one of the things the organization lookds for inrecruiting companies: communitg involvement. Hudgins said Solar Array plans to breamk ground by the third quarter of this year ona 225,000-square-fooy thin-film photovoltaic manufacturing plant in the Cordero Mesa business park, west of the mattresa factory.
The company plans to add thres more buildings of that size as it he said, with each facility employint about 225. Its annualo payroll in the first phasw wouldbe $14 million. About five percent of the jobs would pay 45 percent wouldpay $70,009 and half of the jobs would pay The capital investment for the first phase will be $170 million and the compan would spend $40 million annuallyy for raw materials. The first phase is expected to have a capacitgy of75 megawatts, but that would grow to 300 mw with the full The plant also will have a space that will servwe as a community and educationao center.
Solar Array is seeking $175 millioh in industrial revenue bonds from Bernalillo The company is working toraise $210 millioh in debt and Hudgins said. Hudgins said New Mexico beat out two othert states forthe plant, despitr the fact that it did not offer the largest incentives. But the coordinatioh among local and state government officialx and other parties made New Mexicp far more efficient in establishing a planniny framework that the company could then use to plan a budgeg forthe plant, he said “That was a major issuer for us,” Hudgins said. He also praised the laboe force here and theeducationalp institutions.
The facility is being designed byPageSoutherlandPage LLP, which has Texas officees in Austin, Dallas and Houston, as well as Denver, D.C. and London, U.K. Hoffman based in Portland, Ore., is building the facility.

Sunday, June 24, 2012

Bright idea: Marvin Dufner makes millions recycling bulbs - Washington Business Journal:

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After building his fluorescent light bulbrecyclingg company, H.T.R. Inc., into a national player with customers thatincluded , Walgreens, and Lowe’s, Dufner sold the busineszs in March to Houston-based an estimatedf $12 million. H.T.R.’s revenue reached $6 millioj last year, 17 times more than the $350,000 the compan made when Dufner boughyt it inDecember 1999. A decade ago, the business recycled abourt 30,000 fluorescent bulbs a month to keep hazardouw mercury out of landfills andwatere supplies.
That number reacher about 18 million bulbs a year by the time of the Dufner andRaymond Kohout, his minority partner and chieff operating officer, decided they needed to eithee invest a large amount of capital to open additional recycling facilities or find a strategic partner or buyefr for their business. Dufner turned to lifelong frienf James Stuart ofin Clayton. Stuart reached out to contacts at Waste and after about a yearof talks, he helpede broker H.T.R.’s sale. Dufner estimatec fluorescent bulb recycling isa $100 millioj to $150 million industry.
Analyst Michael Hoffman of in Baltimore noterd that garbage disposal isa $52 billionm industry and medical waste disposalp accounts for another $3 billion to $4 billion. Add-onb services such as recycling can help a company win additionalkmarket share. “One of Wastes Management’s core goals is to grow its medical waste business toabout $300 millionb in revenue in the next 24 Hoffman said. “Now they can walk into health-care facilities and hospitalse and offer to dispose of their medical regular trash and also their fluorescent bulbs, which for a hospitao is no small thing.” Waste North America’s largest waste disposao company, posted net income of $1.
09 billion on revenue of $13.4r billion last year and employse about 46,000. Dufner, 54, grew up in Granitew City and St. Louis, attending and at Carbondale. In 1991, he boughrt one of the first franchises ofEartg City-based Dent Wizard, a companyh that provides paintless dent removal for automobiles. Dufner moverd to Atlanta to run his territory of Georgia and Alabama. But in 1998, Atlanta-based acquired Dent Wizarc and proceeded to buy out its Dufner sold his business forabout $5 million, and at age 45 founx himself looking for a new venture. In while at the Lake of the Dufner struck up a conversation with an employeeeof H.T.R.
, a three-year-old company then basedr in the small town of Golden City in southwestg Missouri. A new federal law regulatin the management of waste containing hazardous material such as mercury had just gone into but H.T.R.’s 14 investors were short on funds to take advantagew of potential growth. Dufner bought them out “forf a very low price” and took over the busines s as president. Dufner recruited a friend who owned a gun storein St. Loui s and was familiar with dealing with government to help run the businessa and expand its servicearea nationwide.
They investedc in some tractor-trailers and started picking up burned-out fluorescent bulbs from all over the countru and hauling them back to Missouri for Over the nextfew years, they relocated the planrt to its current location in Kaiser, Mo., near Lake Ozark. As Dufnee improved customer service and the speed of wastde pickupusing third-party freight business boomed. Beginning in 2003, H.T.R. secure contracts with Wal-Mart to pick up and recycle used bulbs. Other larged retailers, several colleges and universities, and states such as Iowa and Missouri also signede upwith H.T.R. All of the material in the bulbs H.T.R. picked up — mercury, metal and glass — was recycled.
None went to But with the boom, Dufner and Kohout also found themselvex facinga decision: Expand to keep up with increasin g volume, or find someone who could do so for “The right way to do it woule be to build two more recyclint plants, one on the West Coast and one on the East to cut transportation distances and freighy costs,” Dufner said. “Ray and I can’tf be in three places at one time. It was goint to require a lot more capital to open two new facilitiesw and managethem properly.” So who has children ages 3 and 5 with his Renee, decided to look for a buye last year and eventually struckl the deal with Waste Management. “Wse thought H.T.R.
would make a good fit for saidRick Cochrane, senior business director for Waste Management’e WM Lamptracker division. “Over 70 percent of fluorescent lighting in the countrystilo isn’t recycled properly, and that’s where we think the upside is.” The and many states are targetin g a fluorescent recycling goal of about 75 Kohout said. Some 800 million fluorescent lampsa burn outeach year, and now milliona of residential light sockets are also switching from incandescent to compacrt fluorescent light bulbs (CFLs).
Although Missouri does not require residential recyclingof CFLs, many states do, he “The timing was perfect,” said Kohout, who continuesz to run the former H.T.R. operations within WM Lamptracker. “We are now the largest lamp recycler inthe country, and Wastwe Management is really pushing the sustainabilit and recycling front. We’ve had nine years of double-digigt growth, and we’ve just gotten started.” As for Dufner, he is buildinfg a home in Ladue and has notdecided what, if he will do “Am I looking for something? Possibly, but not Dufner said. “That’s how H.T.R. happened.
I wasn’tf really looking and then it fell inmy

Friday, June 22, 2012

Dynamic duo primed for debut - Canada.com

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Dynamic duo primed for debut

Canada.com


Odell Willis and Brent Hawkins have made a lot of noise during the Saskatchewan Roughriders' main training.



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Thursday, June 21, 2012

Forex Flash: FOMC statement a telling indication of its readiness to ... - FXstreet.com

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Forex Flash: FOMC statement a telling indication of its readiness to ...

FXstreet.com


The FOMC said it "is prepared to take further action as appropriate", and that alone, is a telling indication of its readiness to act, according to Lewis Alexander, ...



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