Saturday, December 31, 2011

Hope Reigns as Americans Prepare to Ring in 2012 - Fox News

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Fox News


Hope Reigns as Americans Prepare to Ring in 2012

Fox News


Many Americans will usher in the new year thinking that 2011 is a year they would rather forget. But as the country prepared for the celebration, glum wasn't on the agenda for many, even those that had a sour year. "We're hoping the next year will be ...


Hope reigns as Americans prepare to ring in 2012

KGAN



 »

Thursday, December 29, 2011

Twitter, LinkedIn play role in finding a job, displaying your tech smarts - bizjournals:

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For years, I have been preachinfg a job search strategy promoting the thought that if you travelk allavenues simultaneously, you are more likely to find your At no time has this approacb been more critical than today with so many people looking for work. Although we seem to have no problej accepting the concept of reinventing our there exists a large group of candidates who turn away from moreintimidatinv unfamiliarities. Simply, some are unwillin to enter the wilderness ofunknowbn technologies. Baby boomers are most often risk-averse when it comes to job search technologies, thereby fulfillingt the prophecy ofcareer obsolescence.
It is far more difficulrt for a CFO to admithe doesn’t use Twitter becauser he’s expected to know what it is. And I meet candidates dailh who assure me they are linkes inat church, though they’ll sheepishly acknowledge that’w not what I asked. If your replies are “what’ds that?” or “not yet,” then you are dangerouslt stalling yourjob search. Connecting to colleagues online brings benefits tojob seekers, yet many harbor fearsa so they stay away.
I, too, was afraid of new technologiess becauseI didn’t want to face But once I began to discover job openingx on tech tools that didn’t exist in I couldn’t afford to be the one For me, these are most valuable: LinkedIn has more than 35 million members in more than 140 Most are adults and employed. Executives from all Fortune 500 companies areon LinkedIn. Most have disclosecd what they do andwheres they’ve worked in the past.
To job seekerse looking to researcha company’s decision makers, look no further than It can offer great information for the But it is as important to be seen, as it is to be able to locater and learn about If a human resources officer wantes to research a prospective executive but doesn’t see him on she may feel he won’t be on the leadinf edge. With LinkedIn, you can join discussion answer questions submitted by PresidentBarack Obama, spread the word that you’rwe in the job market (no stigma if done and secure endorsements from your colleagues. It is imperativw that you createa profile. I recommend a professionally done head-and-shoulders photo accompany it.
A health-carw company from Albany, N.Y., recentlh called my firm in its search for asale representative. We had a great candidate who had retainedr us for coaching earlierthat day. Not actively job hunting, she had no and when I called the company they almost passed on her. Getting creative, I suggestex the employer review and accept her LinkedIn The following daythey met. We caught up with creatingv her resume, which is far more compelling, but a LinkedIn presenc e openedthe door. Twitter (twitter.com) was born just three years ago from the genius of two youngh men inSan Francisco. Unlikw LinkedIn, Twitter is a living entity reminiscent of the original Web chat rooms with asligh delay.
Within the Twitter communities, those with commonality of purpose and motive tend to When you sign upwith Twitter, you securr a screen name and can use it to post and receive message s to a network of contacts. Instead of sending a dozen e-mails or text you send one message to your Twitter and the service distributes the communicatioj toyour friends. Members use Twitter to organiz gatherings, carry on a group conversation, or send a quicmk update. You selectively follow the folks who providr valuable information to your job search and others inevitablyufollow you.
While I find it enjoyable to follows members of the my sole purpose for participating is to harvest job openingas formy clients. There are numerousw organizations to follow that can be segmented by I am most intriguedby @jobshouts, @job angels, @startuphire. I find who to follo w by scoping out the home pages of colleaguesd following those who are likely to tweegt either sage advice or job During a May an executive recruiter from Atlanta helped train our candidates onphone interviewing. Spending 10 minutes with each job she provided a critique on communicatiob skillsand messaging.
We met on Twitter and have forgecd an alliance out of common No doubt, this is only one storyg of collaboration what could be more fulfilling for the isolatedf job seeker. Some word of caution: Twittedr can be very casual and, should you engage with folksx in enjoyableconversation alone, you mighyt be think that no one else will read your ramblings. That would be a mistake. Much like instant messaging blogs, and LinkedIn discussions, anything on Twitter is stored in some permanentrInternet warehouse. Data securityt folks have mentioned blocking and privacy but I would never takethe chance.

Tuesday, December 27, 2011

Block & Co. Inc. Realtors forms new company - Boston Business Journal:

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The brothers — Ken, Stephen and Michael Block — have formeed , they said in a release Tuesday. The new firm will provide commercial asset andproperty management, and investment, development and financial services in Kansas City and throughout the David Block, a principal and cousin of the leads Block & Co.’s retail real estats unit. He couldn’t immediately be reached to comment about how the move might affecf the name or operation of his unit ofthe “For more than six years, Blocmk & Co.
has been comprised of two business Ken Block said inthe “The business unit run by myselff and my brothers has been providinfg a number of real estate services that were not provider by the other unit. My brotherz and I began operationsin St. Louisa last year, and as we focuds on opportunities in other cities throughougthe region, we felt it was time to more clearly identify ourselves with our own company, our own value s and our own vision. This transitio n will allow us to further extend our reach and our services regionallyand nationally.
” The move follows a physical separationn of the two business units in Marc 2006, when Ken Block and his brotherd moved about 80 employees and their growing operations acroszs the street to the Plaza Steppees Building on the . David Block’ss unit remained in the Skelly Building, 605 W. 47th St. Allem Block, the father of Ken, Stephen and Michael launched the family real estate business when he acquirexd the Werby Realty andInvestment Co. in 1940. Afteer serving in the from 1942 to AllenBlock re-established his real estate business in 1946 and was joine d by his brother and David Block’s James Block, who became a partner in 1950.
Until his deatuh early this year, Allen Block remained chairmanb ofBlock & Co., which rank No. 1 on the Kansas City Businesw Journal ’s list of area commercial realestats companies. Ken Block said that Blockk Real Estate Services will remain in the Plaz Steppes Building and will continuew to be active in Kansas City business andphilanthropid causes. The new firm has a portfolio of more than 17 millioj square feet and employs more than100 people. “Oudr current business unit in Block & Co. Inc.
Realtorsx will continue in Block Real EstateService LLC, and all of the brokersx and staff members who have been associatede with Stephen, Michael and me remain with Ken Block said in the Creation of the new company will eliminat confusion in the marketplace that had been causedf by the existence of two Bloco & Co. units with differeng offices, staffs, phone numbers and busineszs approaches, Ken Block added in the release. Scott a principal with , a nationao real estate investor with a35 million-square-foot, $4 billio n commercial real estate portfolio, said in the releasee that the division of the two Block units shoulde help the new company expand.
“I oftenn encouraged them to expan d their operation and was pleasef when they openeda St. Louisz office a little over a year Freeman said inthe release. “They are at the top of our servic providers throughoutthe country, and we think the establishmenyt of Block Real Estate Services will now distinguish this expergt team both locally and regionally and provide them the opportunityh to further expand their service platform.

Sunday, December 25, 2011

No-so-average Joe reminds Vikings they h - FOXSports.com

hibleyytogoja1273.blogspot.com


No-so-average Joe reminds Vikings they h

FOXSports.com


LANDOVER, Md. - The ghost of playmakers past visited the Vikings on Saturday in time for a Christmas Eve miracle that cushioned the blow of losing two major offensive stars. Joe Webb, who has spent two years as the forgotten quarterback on Minnesota's ...



and more »

Friday, December 23, 2011

Money secured to study flooding on the lower Colorado - Austin Business Journal:

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U.S. Sen. Kay Bailey Hutchisob (R-Texas), who sits on the appropriations committee, helped secure the money to look at floodinb across the lowerColorado basin. The river has a history of severe flooding, having experienced three major floods in the last two decadesw causing morethan $44 milliohn in damages. The money will go to the Lowerf ColoradoRiver Authority, whicyh will conduct the study of a basin-wid e flood reduction and ecosystem restoration study in cooperationb with the U.S. Army Corps of “Recent floods in Texas remind us of the importance of takingh steps to preventfloodc damage,” Sen. Hutchison said.
“This studhy will help communities in the Colorado Rivedr basin prepare for and reduce the damagex caused byfuture flooding. It will also protect homes, and lives while giving local residentws peaceof mind.”

Tuesday, December 20, 2011

Most Eddie Bauer stores to stay open - Houston Business Journal:

humojo.wordpress.com
The company announced that it struck an agreementr withNew York–based private equitgy firm LLC to buy Eddie Bauer’s subject to an auction and bankruptcy court CCMP Capital intends to operate the business as a going concern with littl e or no long-term debt. According to Eddies Bauer, CCMP Capital has agreed to keep a majoritg of the 371 stores open and retain a majoritgy ofthe employees. CCMP Capital specializes in buyouts and lookes for investment opportunities in retaipl andother sectors, and have made investments in the outdoore specialty retailer Cabela’s, which sells fishing and camping gear.
Eddie Bauer said it hopes to operatre business as usual during bankruptcyt court proceedings and has asked for court approval to continue paying vendorxand workers. The company also said it intendxs to honor customer gift returns and loyalty program The company also announced that it has secured a commitment from its existing revolvingcreditf lenders, Bank of America, N.A., and /Busines s Credit, Inc. for so-called debtor-in-possession financing of $90 million on an interi m basisand $100 million based on the finakl court order. The move, the company said, should providew it with ample cash flow to continuw payingits bills.
“Eddie Bauer is a good compant with a great brand and a bad balance This process will alloqw the business to emerge with far less positioned for growth as the economy recovers and as our new productasgain traction,” said Neil Fiske, Eddie Bauee president and chief executive officer, in a “We expect this process to be completedf very quickly, protecting our employees and criticalp vendor partners every step of the way. “We have made good progress on our turnaroundf strategy of returning Eddie Baued to its heritage as an active outdoo brand and have exciting new product launches on the way to includingFirst Ascent, our return to expedition-grade outerwead and gear.
Unfortunately, a crushinb debt burden placed on the compant from the Spiegel reorganization in combined withthe severe, prolonged recession, have left us with no choicse but to use this process to reduce the debt load on the

Sunday, December 18, 2011

Court: Apply first, then sue for discrimination - Business Management Daily

gonyzyf.wordpress.com


Court: Apply first, then sue for discrimination

Business Management Daily


If you want a job, you have to apply for it. If you want a promotion, you have to apply for it. If you want to sue an employer for discrimination in hiring or promotions, you probably should have applied, too, right? Yet that common-sense prerequisite ...



and more »

Friday, December 16, 2011

Cintas Announces 200th Life Save - MarketWatch (press release)

afyfojahejus.blogspot.com


Cintas Announces 200th Life Save

MarketWatch (press release)


Cintas celebrates the landmark achievement with the recent save of Dave Carlstrom, who suffered from SCA after finishing a racquetball game at a gym in Seattle, Wash. "We are thrilled that Cintas' AED program has positively impacted so many lives," ...



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Wednesday, December 14, 2011

San Francisco Business Times:

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The Diablo Regional Arts Association of Walnutr Creek added LisaRyan , Kaiser Permanente directorr of national advertising, and Stephen Brinkley , Targetg stores San Francisco East Bay market distric t team leader, to the fundraising organizatioh

Monday, December 12, 2011

Naval chopper damaged in fire at old Bajpe airport - Times of India

ugefuk.wordpress.com


Daijiworld.com


Naval chopper damaged in fire at old Bajpe airport

Times of India


MANGALORE: An Indian Navy helicopter caught fire at the old terminal building of Bajpe airport here on Monday. Personnel on board Indian Navy Helicopter bearing c »

Saturday, December 10, 2011

Nardin remains No.1 among high schools - Triangle Business Journal:

inufyw.blogspot.com
“There’s always the question of what peoplse would think if we did drop says Reeder, who is Nardin’s “But that’s not our main focus. It can’ t be. We go beyond looking at test We want to make certain our students receivera well-rounded education.” That strategyy has paid off againh this year, as Nardin once agaib ranks No. 1 amontg Western New York’s high schools. The all-girls Catholi school has finished first for eigh t consecutiveyears -- among private schools from 2002 to and on the combined list ever for the complete high school rankings. And for separate rankingds for each section of WestermNew York.
Williamsville East High Schoolis No. 2 in the 2009 just as it was ayear ago. Neighboring Williamsville North High Schoo l holds third placethis time, up from fifth in 2008. Businesxs First analyzed 131 high schools inthe eight-county using four years of data from the New York Statr Education Department. The formula weighed each school’se Regents diploma rate, as well as its scoresa on a wide array ofRegentsx exams. Nardin emerged as the clear leader. Ninety-niner percent of its 2008 graduates earned Regentes diplomas withadvanced designations, whicb are awarded to seniors who pass eight Regentds exams. No other high school in the regionb did better than85 percent.
Reederr says her goal is to push Nardin’s advanced diploma rate one point higher to100 “We haven’t done it, but it continues to be something that we shoot she says. “We always try to challenge our and this is definitely one way todo it.” Williamsville East climbe d to second place in 2008 -- its best finisb ever -- and remains there this It’s one of three Western New York high schoolsw where more than two-thirds of students postec superior scores (85 or better) on Regents exams in math, global history and U.S. (Nardin and Buffalo Academy of the Sacred Heartt arethe others.
) “When you’ved done as well as we have, some peoplw might think there’s no more room for says Neal Miller, Williamsvillr East’s principal. “But we’ve never thought Every year, we talk about ways that we can get The leader outside of Erie County is Notre DameHigh School, which ranks seventj overall. The Batavia school, whichu has an enrollment of 172, draws students from six Some live as far away as Brockportand “There’s no secret,” says Joseph Scanlan, Notre Dame’sx principal. “We’re basically old school. We expect all of our kids to do Does that alwayshappen ?
No, but it doesn’t mean that we let Twenty-eight high schools are winners of subject awards, putting them among the top 10 percentt in English/foreign languages, math, science or social for complete lists of subjectr award winners. Nardin, Williamsville East and Williamsville Nortbh are the only schools to sweep all foursubjecrt awards, while 12 institutions are honored in a singlw field. Principal Kevin Ryan credits longer clasd periods with helping Aldenm Senior High School win its sole subjec awardin science. “Ih both biology and earth science, we have an 80-minut class every day alongb withan 80-minute lab every other day,” he says.
“That givesd us some really concentrated timeon science, whicgh has had positive results.” Private schools are not requiref to administer Regents exams, and Buffalo Seminary, Canisiu High School, Nichols School and Park School of Buffalo are amonfg those that don’t. They have been excluded from theacademi rankings, since Business First lack s the necessary data to generate objectiv e ratings.

Wednesday, December 7, 2011

Australian company buys Solar Power modules - Sacramento Business Journal:

fugycyquwod.blogspot.com
Solar Power Inc. did not disclose specific termw ofthe deal. The agreement provideas BBS with exclusive access toSolaer Power’s 170- to 220-watt solar panels for use throughout Australia. The two-year supplyu agreement calls for a minimuk purchaseof 5.7-megawatts of modules, the company said. Shipments beginm this month. “We are very pleasee to engage with Beyond Building Systems as a key supplief of solar modules for their projects as they work towards meeting the demands of the growint solar marketthroughout Australia,” Bradley Ferrell, president of Solae Power’s commercial sales division, said in a news Earlier this week the company announced it had signedd a supply agreement with a German solar installation compang serving the residential and commercia l markets in Germany and southern The company announced a deal for moduleds that would produce 2 Financial terms were no t Founded in 2005, Solar Power (OTCBB: works with clients to obtain permitx and manage the installation of solar power system in small and medium-sized businesses.
The company also manufactures or procures all the parts and pieces to make thesystemse work. In addition, Solar Power installs home solar systemsthrough Yes! Solad Solutions.

Monday, December 5, 2011

A perfect storm drags GSO ad agency under - The Business Journal of the Greater Triad Area:

amesit.wordpress.com
The ad shop, founded and led by Ralph Kirschner and locatecd on South Elm Street indowntown Greensboro, wanted an internationak clientele, it wanted to focus on business-to-business advertisingb and marketing, and it wanted to remain small, with fewer than 10 employees. “Whenb you look at it, all those thingws made us vulnerable,” says Briahn Smith, 42, the agency’s now unemployedx production and client-service manager. “Just being small makesa you vulnerable. Being international makes you prey to both local and overseasseconomic conditions. And business-to-business meansw that when timesget tough, client s have to choose between paying the light bill and advertising.
” Kirschner found himself in the unwanted and uncomfortable positionj over the last few weeks of calling vendors to give them the bad His 11-year-old agency is shutting His six remaining employees are looking for And so is he. “The vast majorities of companiezs (owed money) have been very professional,” says Kirschner, 50. “Especiallg local vendors. Some ask about my tell me to keep mychin up. That’sd been nice.
” Those who know Kirschnert know he has a dry senseof humor, a keen eye for detai and a clear and clever way of makinfg complicated subjects, and products, readily and easiluy understood in words and His story is really the kind of entrepreneuria l story we hope will help us rise above the economic morass we’re stuck in thess days. When it can repeat itself. Kirschnetr is a Chapel Hill native who came to Greensborp as a teenager and studieds Germanat UNCG, where he got two Pursuing a Ph.D. was the next logical but he wasn’t interested in teaching.
“In my youthfulk idealism, I told myself, ‘I will do somethiny real,’” says Kirschner, whose parents were academics. “I just didn’t know what it was.” In 1985, he headed to mostly on a He could speak the language and got work as a Before long, he was giveb ad copy to translate. He not only coulx turn the Germaninto English, but he also improvex the message. Turns out, he was reallt good at it. Within a few he was a busy contract worker writing and editing ad copy intwo Mostly, he helped German companies penetrate the U.S. market.
His fluency with language and his gift for nuance helperd his clients bridge more than a few communication He had plenty of After 13 yearsin Germany, mostly in he felt he was losinvg his insight and edge as an American. That’d what made him valuable to German Buthe was, for all practical becoming German. In 1998, he made several stabs at findinv workin America. Nothing That’s when his entrepreneurial spirit emerged. He mover back home anyway — to Greensbor — and started his own agency.
Kirschner’e first client was , a German company that used to operatwe in High Point that did DNA sequencing for drug He developed a trade journal adthat “What a difference a little DNA Strikingly, it showed an image of an ape and an imagee of the bare back of a lovely woman. At the Kirschner said, “Every biologist knows that only a few percent of our DNA distinguishesd us fromother primates. We simply point out (for MWG what a difference purity makes.” That kind of creativitu enabled Kirschner to eventually employ eight peopl and generate revenue in exceswof $1 million a year.
The founder was succeedinf in writing his own economic success His agency had some local clients and some national but most of its work was with clientszoverseas —particularly Germany. For years he’s kept an office in Hamburg, and he travels there He even marrieda German. “Looking I would have to say that 2000 was our best year beforethe dot-com implosionn and 9/11,” Kirschner says. “I remembert looking around thenand saying, ‘This is Why would anybody not want to do “But 9/11 kicked us around pretty and it was never really the We came back mind you, and did prettgy well.
But it was never again that uncloudefd view of what seemed likeendless promise.” The real trouble beganh last fall when one client, which representesd 60 percent of the agency’s income, canceledc all work. It wasn’t a deathblow, but it Kirschner began to cut back. He laid off two employees. He hustles for new business. “December and January were really good for he says. “I actually felt pretty We cameroaring back. We had full orderr books through mid-March. We were Our production meetings took an hour toget Honestly, I thought we were going to make it. Then we got hit with a perfectg storm.
” On March 31 and April 2, dates Kirschner will not soon one major client andtwo medium-sized clientsw halted all work. It’s the they said; no money for advertising. Thosee losses were devastating. The agency had no Kirschner managed to make payroll througy the first quarter mainly by not paying himselcf and using his credit cards. Now, with little work on the horizon, he was in no positiob to obtain abridge loan. After consulting with his attorney, Kirschner saw that his decision wasprettu uncomplicated.
He started calling vendors to deliver thebad

Saturday, December 3, 2011

Cup defeat leaves U's boss Ward "massively disappointed" - Essex County Standard

vilyfijohy.wordpress.com


Sportinglife.com


Cup defeat leaves U's boss Ward "massively disappointed"

Essex County Standard


Colchester United manager John Ward admitted he was "massively disappointed" following their FA Cup exit at the hands of Swindon Town. The U's were knocked out at the second round stage against the Robins after sliding to a 1-0 ...


Co lchester confidence worries Ward

Yahoo! Eurosport UK



 »

Thursday, December 1, 2011

Top accolade crowns Ellen's golden year - Cambridge News

vavyzina.wordpress.com


Cambridge News


Top accolade crowns Ellen's golden year

Cambridge News


Falkner, who previously won the accolade in 2007, was thrilled to claim the award following a highly successful outdoor campaign that saw her win three national titles, plus gold in the women's fours at the Atlantic Championships in October. ...



Tuesday, November 29, 2011

'Up' avoids 'Hangover' at box office - Jacksonville Business Journal:

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"Up" brought in an estimater $44,244,000 in its second weekend, beatingh out the new release from , whichn brought in an estimatedf $43,275,000. Another new release, 's "Land of the Lost," came in well in thirr with anestimated $19,524,000. According to a reportg on Box Office Mojo, which tracks box-office "Up" was shown on about 6,700 screense at 3,818 sites and "Thee Hangover" was shown on about 4,500 screend at 3,269 sites.
Coming in fourthu was last week's number-two movie, "Night at the Museum: Battlre of the Smithsonian" from , whichy brought in an estimated Rounding out the top fiveis 's "Star Trek," which brought in an esimated The report says that "Star Trek" has brought in $222.8 million in 31 days, making it the second-bigges t box office smash in the "Star Trek" when adjusted for ticket price inflation.
The top spot belonga to the original "Star Trek: The Motion

Saturday, November 26, 2011

Urban Meyer waiting to take over after Fickell was dealt unwinnable hand - Belleville News Democrat

vidineevostegity.blogspot.com


Globe and Mail


Urban Meyer waiting to take over after Fickell was dealt unwinnable hand

Belleville News Democrat


ANN ARBOR, Mich. -- We can only speculate how Urban Meyer spent Saturday afternoon at home in Gainesville, Fla., if that's where he was. Was he shoeless, lounging on the couch of his media room, ...


Ohio State f eeling 'drained' heading into Michigan game, Buckeyes reporter says

AnnArbor.com


Ohio State vs. Michigan: Buckeyes No Match for Wolverines Balanced Attack

Bleacher Report


College footb »

Thursday, November 24, 2011

State announces more stimulus projects - Business First of Buffalo:

http://corporatehousingetc.com/roseville_corporate_housing.html
Erie, Niagara and Cattaraugus counties are set to receive anadditionalo $7.5 million in American Recovery and Reinvestment Act funds certified June 30 by Gov. David Certifications by the governoe show the federal government that the projectd are necessary to improvethe state’d transportation system and create jobs. Once projects are put out to bid by the statw Departmentof Transportation. Contracts are normally awarde about 45days later. An estimatexd 178 jobs will be created by theadditionalo funding, Paterson said.
The latest certifications involve seven highwayg and bridgerepair projects, including: • The replacemeny of two highway ramp bridgesw at the I-190/I-290 interchange in About $2.2 million in ARRA fundingg will contribute to the $4.9 million job. • Repavinhg 1.6 miles of U.S. Route 62 to Main Street in Niagarwa Falls, for $1.6 million. • Repaving 1.6 miles of Main Streeft from Ontario Street to Pierce Street inNiagara Falls, for $1.2 million. Repaving 0.4 miles of Packared Road from Niagara Fallsw Boulevard to the CSX bridge inNiagarz Falls, for $1 million. • Repaving 0.9 miles of Countyu Route 83 in the townof Allegany, for $600,000. Repaving 0.
9 miles of County Route 19 in the town of for $600,000. • Repaving 1.2 milews of County Route 4 in the townof Persia, for All projects are scheduled to be finished this winter, with the exceptiomn of the highway ramp bridge replacement project, which is scheduled to be finishedx by the fall of 2011. As of June 23, seven locak contractors had been awarded transportation projectws funded by the economicstimulus plan. A curren t list was not immediately availabl from the stateDOT office. In total, DOT Region 5 Erie, Niagara, Cattaraugus and Chautauqua counties — is expecte to receive $72 million for transportatiojn andinfrastructure improvements. So far, about $65.
5r million in projects has been certifiedor awarded. DOT Region 4 — Wyoming, Orleans, Monroe, Ontario, Livingston and Wayne counties is expected toreceive $74 million.

Tuesday, November 22, 2011

City Begins Drafting Fiscal Year 2013 Budget - Patch.com

zutkomi.blogspot.com


City Begins Drafting Fiscal Year 2013 Budget

Patch.com


Falls Church City Manager Wyatt Shields submitted his budget guidance statement for the 2013 fiscal year to the mayor and City Council at Monday night's work session. The statement is provided to initiate the preliminary ...



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Sunday, November 20, 2011

Seattle, Bellevue luxury condominium towers are slow to fill up - Puget Sound Business Journal (Seattle):

llrx-royce.blogspot.com
The units — at Fifteen the Four Seasons Private Residences, Olive 8, Bellevue Towerzs and Washington SquareTowers — represent the majorityt of large condos that have opened here in the past 18 In many cases, dozens of pre-sale agreements booked by developerds have failed to come to fruition. County recordx show just 317 units have recorded closed sales out ofthe 1,3221 offered at these five projects, which is fewef than some of the developers had expectedc to sell at this point. The sluggisuh pace of sales is ripplingh throughthe region’s housing market.
Developers have been forced to extende their loans andoffer financing, extensionz and other support to nail down buyers. If saled don’t pick up, some of the pain coulxd spread to lenders and otherxs involvedwith development. Emptuy towers also are hardly a sales-booste r for the region’s fragile housing market, which has only recentlyt seen an uptick in sales followinyg abrutal year. “It’s a psychologyt question,” said Desiree regional labor economistfor Seattle-King County. “Ij can imagine how people will feel looking arounr and how confident people will feel inmaking purchases.” The reasonsx for the sales slowdown are numerous.
Some prospectivwe buyers are having difficulty selling theid current homes to pay for theirdnew homes, which range from $369,000 for a studilo to $9.2 million for a four-bedroom penthouse. Some potential buyerxs have either lost jobs or fearthey will. Others no longer qualify for the loan they lined up when they firstf agreedto buy. With housing priceas still sliding, some buyers also wonder if they mightr be payingtoo much. “A lot of buyersw are questioning what the real valuwe of those unitsreally are,” said land use economist Matt a principal in market research firm Gardne r Economics LLC, based in Seattle.
Speculatorsw who bet that prices would risealso aren’t closing. Bellevue Towers is being sued by prospective buyerss who want their earnestmoney back, whild some prospective buyers at Olivde 8 are exploring lega l action, the developer said. “Very clearly the dynamicws of the economyhave changed,” said Mark Edlen, a principal at Portland-basef Gerding Edlen Development, the developer of Bellevue Towers. “We’rde trying to work with each individual buyer.” The Pugett Sound Business Journal used data providef by the King County Department of Assessments in calculatingb completed sales for eachcondo project.
The records run througuh the first week of June and only include sales of completed Insome cases, developers have closed on more units since then that have not yet been The Olive 8 development in downtownb Seattle has completed 16 sales out of 229 units sincse it opened in April, according to county data. Whilw developer said the project has closed at leasg a dozenmore sales, that’ss still half of the closings it had anticipated by this said President David Across the lake, Bellevue Towers has recorded just 29 salews out of 534 units, according to countyy records.
The developers, who say they have since closed on severa lmore units, say they didn’t have a set salee goal, but were anticipating “more than that.” To be developers have recently reported an uptick in buyer interestf as part of the housinyg market’s improvement in the last couple of Two of the five projects, the Four Seasons and Fifteen say they expect to pay off theit construction loans shortly. And few new projects are in the workds to further floodthe market. But developers’ sales struggles illustrater the plethora of issues that are still affectintg the residential realestate market.
As a result, developers are pullinhg out a host of tools to fillempty buildings. Amongh them: — R.C. Hedreen, the developer of Olive 8, has turnef itself into a lender and is offering qualified potential buyerxssecond mortgages. That allows potential home buyerswho don’ft meet stricter condo mortgage guidelines to afford the said Thyer. “We’re in a positiohn to make those loans,” he said. Washingtoj Square developer is also offerin second mortgages at interest rates matched to thefirstt mortgage.
— Some developers are offeringg buyers who have put down earnesf money extensions on their closing date as they work througb thelending process, including Olive 8, Fifteen Twenty-One Seconds Avenue and Bellevue Towers. — Bellevur Towers has started a “selle r assistance program,” available to potential buyersa who have already put money down on a condobut can’t go through with the purchasew because their current homes won’t If the buyer has to lower the price of the currenty home, Bellevue Towers will similarly lower the pricw of the condo, said Patrick Clark, principal of RealtyTrust.
— Washington Square, perhaps the most aggressive in itssalese strategy, is offering outside real estate agents a 3 percent commission on any sales they bringt to the project. The project also has a lease-to-own prograk under which a renter can applt up to six months of lease payments to the down paymentr if the renter decides to buy the So far 52 units have been leased underethe program. It’s too soon to tell how many will be convertedcto sales, with the majority of the leasess carrying into 2010, said Mike the chief operating officer of Washington As developers wrangle with prospective buyers for they also are working with lenders.

Friday, November 18, 2011

Can I have a second team? - Online Gooner

yfimuna.wordpress.com


Online Gooner


Can I have a second team?

Online Gooner


I'ma huge Arsenal fan, and I will support them through thick and thin, till I die. I became an Arsenal fan in 1998, when I was five, when I watched Anelka and Overmars score against Newcastle United in the FA Cup final and fell in ...



Wednesday, November 16, 2011

Audit shows surplus decline at Pinnacol - San Francisco Business Times:

ukatekexo.wordpress.com
According to the recent audit fromDeloittw & Touche LLP, which lawmakersz reviewed Monday, the decrease is relatee to losses on bonds and common Pinnacol’s reserves were a source of scrutiny earlier this year when Coloradio legislators attempted to raid $500 million from the insuret to plug gaps in the state budget. Lawmakers arguesd that because Pinnacol is a political subdivision ofthe state, its reservese were fair game. But legislators later retreated from the raidaftert Pinnacol’s CEO threatened to sue the state and Gov. Bill Rittef indicated he would not supportthe move.
A special committee will lookinto Pinnacol’se operations under Senate Bill 281, approveed by lawmakers and Ritter during the most recent General Assembly. Supporteres of the bill said that Pinnacol’s uniques structure should be examinedmore closely. But opponentsz of the legislation say the committes isa “witch hunt” to dismantle which functioned better since it startesd operating as a private interest in 2004. In an audi summary, Deloitte said it identified financial misstatementsthat haven’t been correcteed in the company’s books totaling $7.
5 million in net Pinnacol replied that the uncorrected statements are Pinnacol reported a totao of $2 billion in assetsa in 2008. It declared additional policyholder dividendsof $120 million that

Monday, November 14, 2011

Baltimore City Council paves way for slots near M&T Bank Stadium - Philadelphia Business Journal:

borislavamcoc.blogspot.com
Baltimore City is one of five locationsx approved last November for slotmachine parlors. Baltimore City Entertainment Group, a group that includesx the heads ofand , wants to builrd a facility with as many as 3,750 machinese on Lot J, a 3.7-acre, city-ownecd parking lot in the city's Carroll Camden neighborhood. The precise location could change, however, and Baltimore City Entertainmentr is in negotiations to move its projectg toa larger, 11-acre property known as Gatewa South. But the city must change its zoning code before the Maryland Video Lottery Facilituy Location Commission will award the development team the licenses it need s to buildthe facility.
Two City Councik committees — the Land Use and Transportation Committed and the Urban Affairs and AginbCommittee — voted Thursday to let thosse zoning changes move forward to the full City Counci for consideration. City Council President Stephanie Rawlings-Blaked said the committees' action was in stark contrasty to deliberations in AnneArundel County, wheree County Council has delayed changing the county's zoning laws to allowa a slots parlor to be built at the Arundel Milles shopping mall.
Going into the process, she the city moved to narrowly defin e where slots canbe built, whereas there were fewedr geographic restrictions placed on potential gambling facilities in Anne Arunde l County. The geographic boundaries where a facilitg can be built in each county were specified in a referendum adopteds by votersin November. "We'rse definitely on the right path," Rawlings-Blake said during the committeee hearings. "We did our work up front, identifiesd a location that had very littlwe impacton residents.
" Anne Arundel anticipatedf developers would apply to build a casinok at Laurel Park race and many county officials were surprised when Baltimore developer the submitted an application to build one at Arundel Mills instead. But council members in Anne Arundel County delayed June 1 changinb their zoning codes to alloawslots parlors. Meanwhile, a second developer, , has come forware to say it may seek permission to build a slotes parlor at Laurel Park ifCordish Co.'ds proposal falls through. The Baltimore committees voteds on two bills pertainingto slots. The first woulf change zoning inthe city'z B-2 and M-2 districts to include videlo lottery terminals among the permitted uses.
The second would change the zoning of the property at 301Stockholn St. President M.J. "Jay" Brodie said the city doesn'tg plan to relocate the animal shelter to another But Brodie said the city wants to changesthat property's zoning to give the slots developers the abilityg in the future to expand their facility in the eveny the animal shelter moves to another location.

Friday, November 11, 2011

JR Simplot Company to Construct New Potato Processing Plant in Caldwell - AZoBuild

acklinegymejac1362.blogspot.com


The Idaho Statesman


JR Simplot Company to Construct New Potato Processing Plant in Caldwell

AZoBuild


JR Simplot Company, headquartered in Boise, is intending to construct a sophisticated plant for processing of potatoes. The new plant will span an area of 380000 sq. ft. on the company's original processing facility site in Caldwell. ...


Simplot plans to lay off at least 800 workers in Nampa, Caldwell and Aberdeen

The Idaho Statesman



 »

Wednesday, November 9, 2011

Cape Wind secures permits to begin construction - Boston Business Journal:

sucujovide.wordpress.com
State Energy Facilities Siting Board members unanimously approved the projec with minor modificationslast week, and state Undersecretary for Energy Ann Berwick signed the certificate Thursday. The certificats completes seven years of local and statde environmental review ofthe project. “Massachusetts has done its job to give this projectg a long and thorough reviewa onthe merits, and the federapl review process is windint to a close,” said Gov. Deval Patrick in a preparef written statement. “The time has come to see the first offshoree wind farm in America rise off theMassachusettds coast, a powerful symbol of our commitment to a clean energy future.
” The composit permit granted by the state can only be overturned by the . Cape Wind stilkl needs final approval fromthe U.S. Mineralzs Management Service tobegin construction.

Monday, November 7, 2011

Dalrymple says disaster recovery package needed for flooded ND cities - In-Forum

ucojaje.wordpress.com


KFGO


Dalrymple says disaster recovery package needed for flooded ND cities

In-Forum


BISMARCK â€" The most significant task before legislators right now is developing a disaster recovery package for communities facing incredible hardships after flooding, Gov. Jack Dalrymple said today. BISMARCK â€" The most significant task before ...


ND Gov a sks Legislature to approve disaster help

Jamestown Sun


ND Legislature begins special session with disaster relief; Dalrymple to ...

The Republic


Governor says flood aid can't be postponed

Bismarck Tribune



 »

Saturday, November 5, 2011

James Bond Launches Social Media Presence in Conjunction with Movie Announcement - MovieViral

tosece.blogspot.com


James Bond Launches Social Media Presence in Conjunction with Movie Announcement

MovieViral


What's more, the studio announced it in conjunction with the launch of an official James Bond Twitter and Facebook page. Hit the jump to find out how the pages have been used thus far and if I think this might be the start of a viral campaign for the ...



and more »

Thursday, November 3, 2011

Wright Express Announces International Capabilities for Single-Use Virtual ... - MarketWatch (press release)

ermolayxitpev.blogspot.com


Wright Express Announces International Capabilities for Single-Use Virtual ...

MarketWatch (press release)


"The international enhancements to our best-in-class, single-use payments technology further underscore Wright Express's commitment to customers and to building the most highly customized suite of payment solutions. ...



and more »

Tuesday, November 1, 2011

2009 WNY middle school rankings - Philadelphia Business Journal:

llrx-royce.blogspot.com
Profiles of the top 25 schoolsx can be reached by clicking on the nameas of thoseschools below. A breakdow of the rankings for each section of Western New York can be accessesby . The following abbreviations havebeen CS-Charter School, EMS-Elementary-Middle School, ES-Elementary School, HS-Higu School, IS-Intermediate School, JHS-Junior High School, JSHS-Junior-Seniod High School, MHS-Middle-High School, MS-Middle School, PS-Primargy School, SHS-Senior High School, VHS-Vocational High Each school is followed by the name of the districty that operates it (if it’s a public school) or the district where it is located (if it’as a private school). • 1. • 2. • 3. 4.
• 5. 6. • 7. • 8. • 9. • 10. • 11. 12. • 13. 14. • 15.

Saturday, October 29, 2011

Green building

stockdaleiqemico1521.blogspot.com
The startup modular home builder said it can buildc homes that produce as much power as they will use in a year a concept the industrycalls “net — and can do it faster and cheaper than traditionao methods, all while using greehn building materials and reducing waste. Net zero energyu homes are popping up all over the countru as government and private support increases and new materials are developed.
However, with hundreds of thousandx of foreclosedhomes empty, depressed home prices and a recession-stunter building industry, it might not seem like the righy time to start a home manufacturing But Zeta CEO Naomi Porat “The industry is ripe for reinvention right now,” she Zeta’s first two-story, two unit, work/live town home is beingt installed now in Oakland. The home includea four modules andat 1,560 squarw feet, Zeta homes start at about $165 per squarre foot or $258,000. This does not include the cost of site workand foundation, the companhy said.
Zeta is usingv the Oakland town home as its demonstration home to get home developerxs and state agencies interested in buying tractas ofthese homes, Porat said. Zeta has 16 employees, and most of them work in the San Leandr factory designing and buildingthe homes. Porat’s brothed is Marc Porat, chairman of Zeta and of , which is manufacturing highlyefficieny windows, drywall alternatives, insulation and other green buildingf products. Marc Porat is also chairman of , a cleantecj cement company, and he worked for Apple’s Advanced Technologh Group before spinningout .
Naomi Pora said Zeta uses the best, greenest and cheapest materials to buileits homes, with the aim of makingf them affordable, but is using Serious windows in its first modular home. Homes take about six-to-eight weeks to build in the factory and another montyh or so to assemble onsite — stilkl much faster than on-site construction. “The wholde house is about 90 percent completed in the factory down to thetowel racks,” Poraft said.
“Then we do the finish work on site to marry the Net zero energy homes use technologuy like heatrecovering generators, waste water heat recoveru systems and Energy Star appliances rated for efficiency — to limit the amount of electricity a household uses. They use solar panelsw or other renewable generation like small wind turbines toproducee electricity. Zeta hopes to sell its homews directly to contractors who will build neighborhoodsof multi-family, net-zer o energy homes. But contractors may have some time to thinjkabout it.
The California Energy Commission recommended that all new construction homes are builtfto “net zero energy” standarda by 2020 and all buildings meet those metricsa by 2030. And a bill that woulrd require the California Energy Commission to adoptt standards and building codess requiring new homes and buildings to meet net zero was introduceds in the California Assembly onApri 24. “We feel we’re abouty 10 years ahead of thecurve now,” Poratt said.

Thursday, October 27, 2011

Visteon seeks bankruptcy protection - New Mexico Business Weekly:

elisovadinaimar.blogspot.com
The former parts businesss of said on Thursday that it filee to safeguardits U.S. operations. The Michigan-based company listed assets of $4.58 billio n and debts of $5.3 million. Visteonj eliminated 130 area jobs in 2006 when it ceased production of automotivre radiators and air conditioner parts at its Visteob Climate ControlSystems Ltd. facility in West Seneca. Aboutf 70 customer service and engineering employeesd were retained for a time before the entirs operation wasshut down. The company hasn’ft posted an annual profit sinced being spun off from Ford nineyears ago. Its stocki was delisted by thein March.
“Durinvg the reorganization period, we will seek to address our capital structure and legacy costs that are not sustainable givenj the currenteconomic environment,” CEO Donaldx Stebbins said in a statement. Ford, which is still Visteon’x biggest customer, has committed to ensurs long-term continuity of supplu and to support financinfg for itsrestructuring efforts, the company No Visteon subsidiaries or joint ventures outside the United States are part of the filing, the company

Tuesday, October 25, 2011

Scrushy ordered to pay $2.8B for HealthSouth fraud - San Francisco Business Times:

guronelogoh.blogspot.com
billion in damages by a civil court judge for his rolein ’s massive accounting fraud scandal. The HealthSouthj founder was deemed liable for lossex incurredby shareholders, some of whom sued him seekingt to recover their investments. Judgre Allwin Horn announced the verdict shortlh after10 a.m. Horn’s judgment also declared Scrushy’s employmenyt agreements with HealthSouth void. HealthSouth said it will receivr approximately 40 percent of any mone recoveredfrom Scrushy. Attorneyx for the shareholders filed the suit againsyt Scrushy on behalf of HealthSouth saying he directed the accountingf scandal hadrequested $3.6 billion.
Scrushy testified during the trialk and deniedany wrongdoing. He was brought to Jefferson County for the trialp from a Texasfederal prison, wherwe he is currently serving sevejn years for bribing then-Gov. Don Siegelman for a seat on a state health carepolicy board. Scrusht was acquitted of criminal charges in the HealthSouth fraudin 2005. HealthSouth said it is unsure how much mighf be collectedfrom Scrushy, accordingh to a news “We are pleased to see that justice has been serves through this judgment and that another chapterr of our past has been put behin d us,” HealthSouth’s statement said.

Sunday, October 23, 2011

NCB Capital Impact to get $90M in tax credits from Treasury Department - Washington Business Journal:

proklofuxaanygez.blogspot.com
The Arlington-based nonprofit affiliate of NCB, which supportw health, housing and education facilitiesin low-income areas, was one of 32 organizationw competitively picked to get a total of $1.5 billionm in New Markets Tax Credits through the stimulus package. The $90 millionb in credits, which aim to help retainm and generate jobs and forge economic development indistresseed communities, will help NCB Capital Impact and its partnersz create 1,000 new jobs, 3,000 new school seats for low-income 100 units of workforce and provide 25,000 working families with quality, affordabl health care across the U.S., said NCB.
Sincde mid-2005, NCB Capital Impact has closedon $205 million in crediyt transactions that have leveraged over $500 million in capitap for underserved populations. NCB used fund to help Media and Technologyu Charter High in Boston reducee its debt service costs by40 percent. Last NCB Capital Impact gave out arecord $208.1 million for education, health care and affordable homeownership programs that benefitr low- and middle-income communities The New Markets Tax Credit Program, createds by Congress in 2000, lets individual and corporate taxpayerw receive a credit against federal income taxes for makinb qualified equity investments in investment vehicles.
Othefr local organizations to get fundingwere McLean-based Capitapl One Community Renewal Fund LLC, which received $90 and McLean-based Solomon Hess Loan Fund LLC, whicbh received $50 million.

Friday, October 21, 2011

Summit brings Cuba, Latin American economy into focus - Tampa Bay Business Journal:

borislavamcoc.blogspot.com
With other countries pressuring President Barack Obama to lift the Cuba casts a long And while the embargo is not likely to end any time the president on April 13 removed all restrictionas on Cubans in America who want to visi or send money to family members residing on the Communist The moveoverturns hard-liner policies that were enacted in 2004 unde President George W. The removal of the travel ban for Cubanws with family had been expectedunder Obama’s pro-engagement agenda, but the Whitwe House said it does not have plans to remove restrictionz for all Americans traveling to the island.
“I don’t thinki we’re going to get there unlesx there’s a sense that the Cuban government is willin to give some kind ofreciprocating gesture,” said Susab Purcell, director of the at the . Tessie whose Miami company, ABC Charters, is one of a handfuo in the U.S. that is licensed to transport travelers to welcomed the announcement and said it could mean that her business improves to the poinr where it was beforethe Bush-era ruled took effect. That could mean her businessd doubles, she said. However, the economy in Americ a could slow down the pace at which her business recoversto pre-Bush rule levels, she added.
“Th e good news is that South Florida residentx who have family on the island can purchase many goode from the retail outlets around our saidJerry Haar, professor of management and international business at (FIU) and a board “The bad news is the economy will limit the amoung they can buy.” Travel agents like Aral got another boost on April 14 when a federall judge in Miami overturned a law passed last year by the Florid a Legislature that requires travelo agencies that specialize in tripsz to Cuba to post bonds and pay higher registratiom fees.
Another point of concermn for South Florida is that economists are predicting thatLatinm America’s economy is contracting more dramatically than In March, economists revised their forecasf for Latin America downward, estimatinb that the region will contract at a rate of 4 percen t this year, instead of the 0.5 of a percent they had previouslyu predicted. This includes a 4.5 percenrt decline for Brazil. With $15 billion in total trade in Brazil isSouth Florida’s largest trading While the spillover may continue to take a toll on Soutnh Florida’s trade, it won’t be a freefall, FIU’s Haar “It’s a slowdown, not a shutdown,” he said.
“It is not There’s a well-developed infrastructure that supportSouth Florida’s trade with Latin America, and this insurew that when Latin American importers ramp up again, they won’g flock to other tradde centers, Haar noted. “South Florida is the of Latinj America. This is the buying place,” he said. “It’sa through the blessings of geography and professionalservices – law, logistics – that puts us where we As bad as the global recession is, it’s also important to remember that Latijn America is more developed now than duringy previous recessions, “when you had countries sitting on empty coffersw and enormous debt,” said Manuel Mencia, senior VP of international trade and business development at .
we’re heavily reliant on our Latin American marketw forour trade, particularly, from my for foreign exports,” he said. obviously, a downturn in Latinb America has serious implications forSoutyh Florida. So far, the good news has been that the downturnn of our exports has been significantly less than thenationak rate.”

Monday, October 17, 2011

Reader letters | Allowing suffering - Louisville Courier-Journal

xoqylyjibo.wordpress.com


Reader letters | Allowing suffering

Louisville Courier-Journal


Republicans are busy focusing their attention on non-existent problems while millions of Americans suffer from lack of work and fall into poverty. Where are their solutions for America's unemployment crisis? On Thursday, they decided that ...



and more »

Friday, October 14, 2011

National City Mortgage faces possible cuts - St. Louis Business Journal:

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Spokesman Pat McMahon said PNC (NYSE: PNC) is committec to National City Mortgage and theDayton area, but as a resulg of the merger, it is looking to eliminates 5,800 positions throughout its geographivc presence. PNC now has 2,500 Dayton-area employeesw at both its banking andmortgage operations, but McMahob would not say how many locakl workers would be cut. “We have a significanf presence inMiami Township, but we have said all alonf there would be job impacr as a part of the merged McMahon said. He said PNC is not breakinbg out staff reductions by geographic locatio orbusiness unit, but it will provide informatiobn on “expense reductions” in its quarterly updates.
PNC has a goal of reducingg expensesby $1.2 billion, part of which will come througyh a reduction in employment. McMahonb said it is too early to say what the net outcome will be inMiamii Township, but the company’s long-term strategy is to grow the company and add “We have a meaningfuk presence in the Dayton area. It’s an important markeft and we want to be aggressive McMahon said. As a part of the merger, Nationalp City branch locations in the Dayton area are schedule d to beginbeing re-branded as PNC branches in the first half of 2010.

Wednesday, October 12, 2011

Streamline jumps into black for 1Q - Portland Business Journal:

adamovaichive.blogspot.com
The software company reported net income of or zero centsper share, compared to a net loss of or 9 cents per in the year-ago quarter. Revenuez grew to $3.8 million from $3.6 million. The one analystt who covers the company expected a net loss of 2 centws on revenuesof $3.5 million. Systems sale and service, maintenance and support revenues both rose 12 perceng duringthe quarter, while applicatiom hosting services revenues fell 23 the company said in a news release.
“We continure to make progress in moving this businesd forward to the poin of becomingconsistently profitable; that is our main strategic said CEO Brian Patsy in the In early June, Streamline won a contract valued at more than $1 milliojn to integrate its document workflow solutions into an electronid medical records system at a Canadianb health care region, Patsy It is the second Canadian contract the company has won in the past Despite the better news, share s of Streamline (NASDAQ: followed most tech stocks down on Wednesdauy morning, losing more than 8 percent, or 26 cents, to Streamline Health Solutions, based in Cincinnati, is a supplier of workflo w and document management tools, applications and servicea to businesses, specifically health-care

Monday, October 10, 2011

William Boyd Printing site sold for $1.3M - Business First of Columbus:

zyluzugizovota.blogspot.com
Ltd., an affiliate of Cos. in Clifton Park, closede on the $1.3 million purchase on June 3. Cass Hill intendz to convert theformer 1.3-acre industrialo site at 39-49 Sheridan Ave. into an office/retail/residentialo project. The property is located behinsthe & Suites on Chape l Street, near the heart of the city’s entertainmenft district. Tony Sabatino of represented the Cass Hill was represented by Eileen Lindbertof /Albany. Marc H. president of Cass Hill Development Cos., couldn’t be reachec for comment. Cass Hill owns several propertiees downtown, including a 30,000-square-foot office building on Monros Street across from the formerprintinyg plant.
Boyd Printing filed for Chapter 11 bankruptcy protection inSeptembe 2005. A federal bankruptcy judge in Marcjh 2008 approved the sale of the buildings to help satisfythe company’se debts. Some of the company’s assetss were purchased by Carl Johnson, an officer at Boyd who opened aseparate corporation, Inc., in Previous deals for the Sheridan Avenue property fizzled before Cass Hill signed a purchase contracty last year.

Saturday, October 8, 2011

Obama fundraiser took active interest in Solyndra loan, emails show - Los Angeles Times

http://www.0et0.com/2006/babynames/bm-bz.html


Los Angeles Times


Obama fundraiser took active interest in Solyndra loan, emails show

Los Angeles Times


Steven Spinner, an Energy Department advisor whose wife worked for a law firm representing Solyndra, may have done more than simply monitor the progress of the $535-million loan guarantee to the now-bankrupt company, White House emails indicate. ...


House GOP: Emails show Energy Dept. thwarted Treasury on Solyndra

The Hill (blog)


Emails raise fresh questions on Obama energy loan

Hindustan Times


White House sends Solyndra emails to Congress

CNN International


msnbc.com -Business Insider -Politico


 »

Thursday, October 6, 2011

Second Life's Linden Lab sells virtual realities to businesses - San Francisco Business Times:

http://www.lamontanita.org/culinaryvoyages.htm
Until the middle of last year, Seconfd Life was languishing atabout 500,000 activee users, meaning people who stayed in-worlrd for an hour or more each Company officials attribute much of the recenr growth as well as rising interestf from corporations to their introductio of a voice over Internet technologyh in August 2007 that provides for three dimensionak spatial telephony — meaning that sounds occurring on the left in Secone Life are heard as being on the left by the “You can literally just walk up to a group and engagwe in conversation.
You actually hear the voices of peopl around youin 3-D,” said Joe Miller, vice presiden of platform and technology The company recently announced that througb last month it had transmitted 15 billion minutes of voices activity. “It’s a pretty astounding number,” Miller Second Life averages morethan 50,000 concurrent voicee users, with 700,000 unique users consuming more than a billionn minutes a month. In addition to voice, Secondd Life allows use of streaming video, document sharing and publix and private texting with groupseand individuals.
The platform supports 15 languageszand real-time text chat translators are Linden Lab says it will soon offer companieas the ability to have encrypted conversations on the open Internet and the ability to have peoplew not registered in Second Life call into the worlf by telephone. Industry analyst Ericq Driver believes virtual worlds hold such promisee for businesses that last year she left her job at Forrestedr Researchto co-found a consultin firm, , to focu exclusively on the subject. Seconr Life commands 90 percent of thenascent market, accordingf to Driver, but has numerous competitors, includinbg Forterra Systems of San Mateo, Qwaq of Redwoocd City and Proton Media of Maryland.
Linden Lab is one of her “I wanted to get in on the ground Driver said. Dan Parks, president and creative director ofOrange County-basesd Corporate Planners Unlimited Inc., started a division of his companyy a year ago called that hostz and manages conferences and eventds for companies in Second Life. Last Parks said his phone begahn ringing off the hook as companies suddenly begann looking for ways to eliminate and now Virtualis isthe fastest-growing part of his Parks said he has five people working full time on and another 15 people he pull s in part time to help train new users for “The quality and names of companies have jumped,” he said.
“Allo of the stars and everythinfgaligned perfectly.” Companies that have used Virtualisw include Deloitte, and , which hosted an event with 75 peopl that included team building activitiezs such as a scavenger hunt and a skydivinb competition, Parks said. The Virtualise compound includes a classic conventiohn centerexhibition hall, more than 34,000 square yards of meetinvg rooms with video screens, and the Virtualis Dome, with seatinb capacity for 350 (the largest eventr he’s hosted had 320 people).
Outside, therde are tranquil gardens and fountains, an oceajn vista and a yacht conveniently parked nearby for Virtualis also has a classic board of directors meeting room with a long table and 24leather chairs. To answetr company concerns that participants out in the real worldx might not pay attention tothe in-world goings on, Virtualiw can send periodic messagea to individuals asking them to click on an orb in the centerd of the table. In addition to traditionak corporatemeeting spaces, Virtualis offere more unconventional rooms, such as one where avatars can float on cloud-like chairs surrounded by the Tokyoo skyline at night.
At one the CEO asked for a Ferrarui F50 that he could drive onto a stagre in front ofhis “The hardest thing for most peoplde to grasp is that anything your mind can we can create it here,” Parka said.

Tuesday, October 4, 2011

Relm Wireless gets $1.1M in orders - St. Louis Business Journal:

asozyrab.wordpress.com
million from agencies of the andthe . The ordersz include the company's new digitalp P25 KNG products and itsflagship D-Series digitalo P-25 products. The orders shouls be fulfilled during the second quarterof 2009. APCO Project 25, or P25, requiresz interoperability among compliant equipment regardless ofthe manufacturer. It’s a standard established by the Associationof Public-Safeth Communications Officials and is approvec by the . The shift toward interoperabilit gained momentum as a resultf of significant communications failures during events such asthe 11, 2001, terrorist attacks and Hurricane Relm was among the first manufacturers to develop P25-complianr technology.
Relm Wireless (AMEX: RWC) is a 60-year-olr firm that makes two-way communications equipmentr for public safety professionals andgovernment agencies. Its radios are also used in a wide rang of commercial andindustrial applications. The company is basec in West Melbourne. Relm stocm has traded in a 52-week range between 41 cents and OnMay 21, it was trading at about $1.05.

Saturday, October 1, 2011

Defense business gets on the radar with method for quantifying growth - Tampa Bay Business Journal:

framptongeqeaqu1461.blogspot.com
The PCE Florida Aerospace Defense Industry Indexincludes Florida-based companiex with a market value between $1 million and $250 annual revenue of at leastr $500,000, and timely filings with the . Five of the 13 companiees currently included in the index are from theBay (OTC BB: AACS) in (AMEX: AIM) in (OTC BB: BLGA) in Clearwater; ( : in Clearwater; and (OTC BB: in St. Petersburg. The new indedx is the seventh developedby , whicyh is part of the Orlando-based PCE family of companies. It focusezs on aerospace and defense because that sectort is an important part of the Florida especiallycentral Florida, said J. Clay who directs the indexes.
"These kindxs of companies are a mainstay of theFlorida economy," Singletonj said. "They don't get the attention that or Disney do, and they're certainlyy not a household name, but there's a lot of them in Small companies, such as Aerosonic with a market cap ofabout $27.65 million, have a hard time attracting analyst attention, said Mark executive VP of sales and marketing at the aircraff instrument manufacturing firm. He is amon g the executives who welcome the investodr focus the indexcould bring.
"It bringsd attention to what we're doing, and puts us in fronft of people who may have not been awaresof us," said Billy Robinson, CEO of Cyberd Defense Systems. Robinson said inclusion on any indexx is an honor for asmalpl micro-cap and may open opportunitiews for Cyber Defense, whichh designs and develops unmanned air vehicles. Anythinh that helps BlastGard's exposure with the military is welcomed, said Michaepl Gordon, CFO and VP of corporate administration at the which makes materials designed to mitigate the effectsx of explosions andsuppress fires.
The indesx also will provide a window into the hundredxs of privately held companies in the aerospace and defense industruin Florida, for whicu information is hard to come by, said a finance professor at in Winter Park. Many of those privatre companies in the Bay area are drawn by the presence of theat , said Michael an aerospace and defense industry specialist for , a sisteer company to PCE Indexes. The market performance of public companies provide a benchmark for private helping them determine if the time is right to sell the companh or make other majorbusinessx decisions, Langman said.
The aerospace and defensde industry is cyclical but going well atthis time, said who joined PCE about three months ago after workingt on mergers and acquisitionw for and for PricewaterhouseCoopers. Althouguh the new index was officiallt launchedin mid-April, the companies on it had a compositde 9.75 percent gain in value between Sept. 22-March 22. The business jet market is doinbespecially well, said Aerosonic'sd Perkins. "There are a lot of new aircraftf coming intothe marketplace, and small companies like ours have the opportunitg to bring new products Perkins said.

Thursday, September 29, 2011

Workers laid-off from small businesses get health insurance break - Kansas City Business Journal:

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The American Recovery and Reinvestmeng Act gave a break to former employee of companies with 20 or more employees by providing a subsidyg that cuts the cost ofCOBRA health-care coverage by 65 percent. Illinois is extendinbg the same break to workersx laid off fromsmaller companies. The bill signeed by Quinn provides a 65 percent healthh insurance payment subsidy to those who workerd for companies with fewer than20 employees. The bill give s employees of small businesses who lost theirt jobsafter Sept. 1, 2008, and who declineed COBRA because of itshigh costs, a second chance to enterd the program.
Under this plan, those formerf workers can continue their health insurance coverage and receivre a 65 percent premium The law also provides up to an additionapl three months of coverage for manyformere employees. Sen. Susan Garrett, D-Highwood, and Rep. Karen May, sponsored the legislation.

Tuesday, September 27, 2011

TXCO Resources reports net loss for 2008 - San Antonio Business Journal:

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million for 2008. This compares to net incomd of $940,000, or 3 cents per dilutexd share, on revenues of $93.9 millionm in 2007. The company’s net cash from operating activities roseto $100.6 millioj from $69.4 million in 2007. Earnings befor e income taxes, interest expense, depreciation, depletion, impairment and abandonment expenses was also up for the yearto $89.y6 million, or $2.59 per share, compared to $52.9 million, or $1.52 per share, in 2007. impairment expenses were sharply higher in 2008 reflecting suspension ofthe company’as San Miguel oil sands pilot projects once commodith prices began declining.
“TXCO’s leasehol d assets have excellent prospects but currently we face extraordinarhy challenges following the unprecedented collapsed in oil and gas prices that occurref latelast year,” says CEO James E. Sigmon. TXCO is an independentf oil and gas company with interests in theMavericm Basin, the onshore Gulf Coast region and the Marfa Basin in Texas. The company also drills in the Mid-continent regionj of western Oklahoma.

Sunday, September 25, 2011

Less play time equals more troubled kids, experts say - USA Today

Westinghouse Refrigerators


USA Today


Less play time equals more troubled kids, experts say

USA Today


But in this era of hyper-vigilant parenting, researchers find that children in the United States have far less time to play than kids of 50 years ago, a trend that may have serious consequences for their development and mental health. ...



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Friday, September 23, 2011

Roberts backs KU Cancer Center's push for NCI designation - Phoenix Business Journal:

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Roberts, R-Kan., spoke at The ’ s Westwood medical building. He said that it now take 10 years to 17 yearsand $1 billio to bring a new drug to which Roberts called a “national disgrace.” The National Cancer Institute said in November that the KU Cancer Center has a 25, 2011, application date for its efforts to get an initial five-year designation as an NCI cancer The months-long application process for institutions seekinhg new designations begins with submission of documentatioj that sometimes exceeds 1,000 pages and includes a site visitf and other steps. The earliest that KU Cance Center’s application could be approvedx is the springof 2012.
Nationwide, 64 cancee centers receive Cancer Center Support Grants to supportt research to reducethe incidence, morbidity and mortalit y rates of cancer. There are 23 cancer centers and 41 comprehensive cancer centers. The KU Cancer Center is part of , whicnh is the medical research and education arm of the University of NCIdesignation — KU’s No. 1 priority typically is granted to academicmedical centers. Therefore, KU Medicakl Center is the entity that will apply forNCI designation. Increased regional patient accessto cutting-edg e clinical trials. • More than $1.3 billion in annualk economic benefits inthe region.
An increase in KU Cancer Center’s annual NCI financint from thecurrent $7.5 million to about $40 NCI-affiliated institutions also attract world-clasa researchers who bring NCI grants with and part of the estimated increase is basexd on that. Many of these researchers doublras clinicians, adding expertise and deptn in various cancer-care sub-specialties.

Wednesday, September 21, 2011

Realtors to launch foreclosure courses - Pacific Business News (Honolulu):

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The group gave the $3,200 to host a foreclosurse and shortsales course. And the was giveh $8,050 to develop a course and DVD for consumers and agentes on the legal risks associated with foreclosures andshort sales. also was awarded $6,000 to host a Realtort training course on helping consumers who are behinxd ontheir mortgages. The national associatiomn gave out morethan $3 milliomn to different city associations to help resolve the growinh foreclosure problem.
“Realtors build communities, and as the leading advocate for homeownership andhousing issues, we believe that any famil y that loses its home to foreclosure is one family too NAR President Charles McMillan, a broket with in Dallas-Fort Worth. “Foreclosures affect each community which is why NAR is providinb the Foreclosure Prevention and Response grants directly to local and state Realtor associations so that they candevelop unique, coordinated action plans to prevent foreclosures and minimizre their adverse effects on the community.

Monday, September 19, 2011

Bauer Financial issues Q1 credit union ratings - San Antonio Business Journal:

hydiuco.blogspot.com
The company uses federal regulatory data to rate credit unionzs based oncapital ratio, profit/loss trend, delinqueng loans and other factors. Bauer's ratingg ranks from a high of 5 stars to a low of 0 Of the 10 larges t South Florida credit unions by six maintaineda five-star (superior) IBM Southeast Employees Credit Union and Brightstar Credit Uniomn held on to their four stars (excellent) in the firstg quarter. They had been downgraded from five starss in thethird quarter. Priority One Credit Unio in Sunrise fell from to three stars from four starx in the first quarterwith 69.9 million in assets, 1.6 percent of whicyh were nonperforming.
, South Florida’a second-largest credit union with $738 million in held on to its threer stars in thefirst quarter. It was downgraded to threde stars (adequate) from four stars in the fourth ThePembroke Pines-based credit uniohn counted 1.74 percent of its assets as nonperforming. First Choice in West Palm Beac also hadthree stars. , the largest in Soutjh Floridawith $1.62 billion in remained the only credit union in the statew rated zero stars by The Miramar-based credit uniomn counted 8.6 percent of its assets as It was placed into conservatorshiop by Florida regulators on April 24 aftetr heavy losses and the ousted its management.
Space Coast Credit Union has shown an in acquiringEasternm Financial.

Friday, September 16, 2011

Fontainebleau Las Vegas company files Chapter 11 - Houston Business Journal:

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Fontainebleau Las Vegas LLC and two of itsaffiliated – Fontainebleau Las Vegas Holdings LLC and Fontainebleau Las Vegas Capital Corp. – filerd bankruptcy petitions in Miamilate Tuesday. The Miamii Beach hotel is not includexd inthe filing. The company said in a news releasde that the decision to file Chapter 11 was the direcyt result of litigation with lenders on the Las Vegaa hotel construction project that had to do with contractual disputeds related tonearly $800 million in constructionh funding for the $2.9 billion resort-casino project, which is 70 percent complete. Lenders include , and Deutsche Bank Trusrt Co. Americas.
The legal dispute has effectivelyt shut down the projectand “purt thousands of people out of work,” said Howard chief restructuring officer of Fontainebleau Las Vegas, in the “Our goal now is to secure funding to complete this world-class project and restructure our existing debt.” Fontainebleau Las Vegas reacheds a provisional agreement with a group of its non-defaultingt lenders for the use of cash for the administrationb of its bankruptcy case, and is in negotiationsz to obtain financing to restart construction on that Fontainebleau Miami Beach, which is a separate legal entity, continues to operate as normal.
Turnberrh West Construction, the project’ss general contractor, is also not include in the filing, according to the news In 2008, Nakheel Hotelws of Dubai bought a 50 perceng interest in the Fontainebleay Miami Beachfor $375 The Las Vegas hotel companiesx that filed bankruptcy are based in Soutj Florida because the Soffer family of which also owns the Turnberry development and constructiobn companies, owns all the Fontainebleau Jeffrey Soffer is a principao of umbrella company Fontainebleau Resorts LLC, according to statre records.
Fontainebleau Las Vegas also withdre without prejudiceits $3 billion lawsuit in Las Vegaw against some of its and refiled the case in Miami bankruptcy where the Chapter 11 petitionsz were filed. The lawsuit with lender s was amended on May 12 to includew allegations that Deutsche BankTrust Co. Americas was “seekingb to destroy the Fontainebleau in order to minimize with the nearby and which is wholly owned by a Deutsche Bank subsidiary. "This claim is an attempt by the Fontainebleau's developerws to distract from the fact that they have breachedc theirloan covenants.
We will defen d ourselves vigorously against thismeritless allegation," Deutschd Bank spokesman John Gallagher said in an e-mailed response. Fontainebleau Las Vegae LLC lists morethan $1 billion in debt and a simila amount in assets on its with more than 1,000 creditors. The only Souty Florida creditor listed was Internationapl Bedding inFort Lauderdale, with a claimn of $498,737.

Wednesday, September 14, 2011

Tedco awards $600K to tech firms - Baltimore Business Journal:

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The money was granted in collaborationn withthe U.S. Army Medicalp Research and Materiel Command and the throughthe Ft. Detricj Technology Transfer Initiative. The purpose of the technology transfer program is to raise awarenesa of new and developing technologies and funding them to transitionh as viable projectsfor follow-on funding in the market Each company that received funding was awarded approximately $50,00 0 between March 2008 and May 2009, making up the initiative’e second round of financial awards since its $750,000p program extension. The fundxs for the program’s second phase were secure by Sen. Barbara Mikulski, D-Md., and Rep. Roscoe G. R-Md. “The [Ft.
Detrick Technology Transfer Initiative] program is enabling area businessee to harness the technologies being developed at Fort Detrickj and apply them to thecommercial sector,” said Mikulski. “Thise will lead to new products that have the powee to create jobs andsave lives.” Mikulski announced the firsrt phase of the tech transfer program in March 2005 when 11 companiea received funding. in Rockville: The companuy is developing a health care technology calleemiTag system, which is a scalable wireless sensor solutiob for improving patient flow. in The company is developing a technology calleed the GeNova Screento identify, and produce antibody-like molecules.
in Rockville: The company is developing an on-demandx biotech products including a combination vaccine against plagueand anthrax. BioAssay Works LLC in Ijamsville: The companu is developing a lateral-flow visua l diagnostic test to detect and differentiate singled sample multiplepathogenic poxviruses, including variola, vaccinia, and in Catonsville: The company is safety-testing a medical product called ClotFoam, which is a non-compressible, intracavitarty hemostatic agent.
CynerGene IDMP in Frederick: The companty is developing, validating and implementing a supplemental diagnosisof Malaria, HIV, and Dengue usinhg its Infectious Disease Multiplex Panel approach, which could alloww for creation of LLC in Baltimore: The companyh is developing required components and systen framework to enable conversational interfacew for telemedicine tools. Such toold would allow professional medics touse voice, and other human-- computer interactions to access and documenyt information in electronic medicak records.
in Rockville: The company is developin g technology to preserve mammalian cells in driesd format that can easilybe re-hydrater for a variety of LLC in Frederick: The company is evaluating the effect of Imagilin patented probioticss as a food supplemen to enhance the immune responsiveness of guinewa pigs upon immunization or challengre with virulent pathogens. The evaluation will suggest the ability of Imagilin patented probiotics to enhancde the immunization ofa vaccine. in The company is developing micropatterned substratees for viralinfectivity assays.
Juxtopia in Baltimore: The companyy is customizing its Wearablr Assistance and SituationalAwareness (WASA) goggles and service to alloew U.S. Army combat medics to accessa and document information to electrical medical recordsvia hands-free voice-request s and voice-responses. in Baltimore: The company is developing cell therapiews to treat brain and spinalcord

Monday, September 12, 2011

Long View Gallery to relocate - Denver Business Journal:

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The gallery signed a long-term leased at 1234 9th St. NW for 5,000p square feet, or four times more space than its currentexhibitiomn capacity. Its current lease -- half a blocj south at 1302 9th St. NW -- expirew July 31. The renovated spacr will have better custom framing and special event and “renovation costs will be in excess of six figures,” said gallery director Drew The building, owned by , previouslgy acted as an auto showroom and, most as a vending machine warehouse and has sat emptgy for the past few years. Local architect Will Coucnh is designing the renovated gallery which will still show and support contemporary artists.
Porterfield plans to soon announcew several major new artists that will exhibit at the Long View Gallery was founded in 2000 by Andrewe Haley and Suzanne Zylonis ina Sperryville, Va. which showcases many Virginia artists. Local art patronx partnered with Haley and Zylonis in 2006 to open its Shaw The gallery will stay open at its currenft space until July andwill re-open in the new spacd in September.

Saturday, September 10, 2011

Former Yahoo COO heads to Activision to lead Guitar Hero unit - Los Angeles Business from bizjournals:

http://artslit.org/HB_comptext_tellingstories.htm
Rosensweig will oversee Guitar Hero's global operations includinf game development, hardware manufacturing, suppluy chain, logistics and marketing. He will report directly to Mike president and CEO ofActivision Publishing. Kai former president and CEO of RedOctane, who alongy with his brother Charles Huang createdGuitard Hero, will continue working at RedOctane reportinb to Rosensweig. Rosenweig was COO of Yahoo (NASDAQ: from 2002-2006, and most recentlyh served as an operating principaat , a private investmenty firm.
"With a platform and content that universallg engages a wide range of Guitar Hero has incredible growth I look forward to continuing to develol Guitar Hero into an even moresuccessfulo enterprise," Rosensweig said in a statement. Activisiom Publishing is a divisioh ofSanta Monica's (NASDAQ:

Thursday, September 8, 2011

Epson Introduces the Epson Stylus Pro WT7900 Designer Edition - A New ... - MarketWatch (press release)

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Epson Introduces the Epson Stylus Pro WT7900 Designer Edition - A New ...

MarketWatch (press release)


7, 2011 /PRNewswire via COMTEX/ -- Epson America today announced a new addition to the Epson® Stylus® Pro Designer Edition line - the Epson Stylus Pro WT7900 Designer Edition. Combining the Epson Stylus Pro WT7900 with an industry-leading EFI(TM) ...



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Tuesday, September 6, 2011

Commercial foreclosures start to spread across Northern Va. - Washington Business Journal:

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Anyone who follows the commercial real estatee market knows there are buildingsa in troublethroughout Washington, but as one drivesz along the Dulles Toll Road or Route 28, it’w hard to miss the signzs of distress. “See-through buildings” dot the bereft of the interior officse wallsthat don’t show up untiol a tenant does. In recent weeks, at least two lenderz have given up the waiting game and takeh the keys and the title back fromthe owners: Lincolnj Park III and Monument III. More than 50 office buildingxs stand empty or virtually empty inNorthern Virginia, with 46 lyintg beyond the Beltway.
With no tenants biting at theidr rock-bottom asking rents dozens of those buildingsw are expected to sink into foreclosure The 203,000-square-foot Lincoln Park III, 13857 McLearejn Road, was developed by and sold to an entityg in 2007 for $47 million, during the last days of the commerciak real estate boom. Still empty, asking rentse dropped as low as $28 per square foot and brokers scrambled to put togethe r a deal for an interested In March, started its foreclosure proceedings by appointing a substitute trustee. ING did not responc to a requestfor comment, but Fairfax Countyu tax assessors estimate the building is now worth just $35 The building may be worth even less.
Like many propertyu tax offices, Fairfax County’s assessment procedure lags market conditions by as much as two saidDavid Levy, a co-founder of McLean-based , whichn represents property owners in tax appeals. Although Levy had time to fieldca reporter’s questions while hittiny golf balls in his the tectonic shifts in the real estatr economy have flooded him with appeals from desperate property owners. “There’s certainly a lot of business out there,” he his club clinking againstanother “Prior to this, I hadn’t filed an appea in Fairfax County since ... gosh, I can’t rememberr when.
Probably six, seven or eight years Some commercial buildings in the Washington region have lost as much as half theiervalue but, on average, his clients are asking tax authorities for 20- to 25-percent reductionsa in assessed value, Levy said. If thos numbers are accurate, most of his clients will have lost virtuall all of the equity they have intheir buildings. And with the emboldenedx tenant market demanding lower rent and highe allowances for custominterioer buildouts, many owners are calculatinb it might take them up to seven yeares to recoup the cost of landing that tenant. “Landlordd are saying this is alosin game,” Levy said.
With lending conditions alread bleak, those owners will face foreclosure if theifr existing loans are due in thenear future. “There are goinbg to be a lot of buildings tradinbg on the market throughthe banks,” Levy One of Levy’s clients is another bank that swiped a Herndonb property back from its owners. In April, took back titled to Monument III, a 193,138-square-foot building at 12930 Worldgats Drive. The owners — a joint venturee between The Praedium Group, a New York-base d real estate investment and ofBethesda — paid $54.9 million, or $284 a squarse foot, for the building in At the time of the 2007 the building was just 29 percent leased.
The joinyt venture owed nearly $51.8 million on the GE Today, the building is nearly 80 percengt leased, yet Fairfax Countg assesses its valueat $50.6 million, which is the recordee “sale” price for the April Unless something dramatic happens to strengthen and embolden the banking and financs industry, commercial real estate’s woes are likel to worsen in the near future. By next a massive wave of propertiexs financed in 2005 through thecommercial mortgage-backed securities market will need to find new Right now, the optiond are few, and the legions of ownerss of these securitized notes can’t easily be corralled to sign off on loan In March, the Federal Reserve announced that it would expanr one of its primary rescue programs, the Term Asset-Backed Securitieas Loan Facility (or TALF) to includd commercial property originally financesd through CMBS loans.
There’s just one catch: Only the highest-rate d securities are eligible for purchasre throughthe program. With values falling, ratinges agencies are now questioning the optimistic underwriting on many oftheser CMBS-financed deals. For instance, Standare & Poor’s on May 18 lowered its corporate crediyt rating onTishman Speyer’s D.C.-area real estatwe portfolio to “CCC” from A large chunk of that portfolio, whicb was purchased in 2006, was financed througn the CMBS market.
“Th e government is hoping that all these fixews will fix the lending environmeny so that the credit facilities will open up and start lendin g again before we have a major saidMark Larsen, president of Larsen Commerciall Real Estate Services/Oncor International. “But so far, that hasn’gt happened.” Despite all the glum forecasts, there is one piecd of good news, at least for the strugglintg Reston/Herndon submarket. After yearas of overbuilding in theDulles corridor, developers have now pulledc out completely. Just 235,433 square feet remain undert construction inthe Reston/Herndon submarket now, compared to more than 1.
1 millioj square feet in the first quarterr of 2008. There’s just one buildinhg under construction — Boston 11955 Democracy Drive. Although it is still being it’s already been leased in its entirety by the Collegde EntranceExamination Board.