Thursday, July 28, 2011

Report: Foreclosures are top sellers - Memphis Business Journal:

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said banks that are willintg to deal on foreclosed units are drivinv the firstquarter activity. For example, Shom a at Keys Cove in south Miami-Dade County sold the with 50 units closing in thefirst quarter. The Vue at Brickellk sold 25 condos, ranking it seventbh on CondoReports.com’ top-10 list. “Many banke have taken ownership of units in thes buildings and are looking toget out,” said Adam Cappel, presidenr of CondoReports.com. “Banks, either through short sales or units they own as a result of are the most activs sellersin today’s market as they are willingf to accept market prices.
” The 10 most active buildingas produced an average of 29 or one sale every three The buildings accounted for more than 11 percentt of all condo sales in Miami-Dade, according to a CondoReports.coj news release. Most of the activityg is tied to individuaklunit sales, and not bulk buys, Cappel “These buildings are moving toward stability as speculativ e investors and thinly capitalizedc owners are being replaced with either owner-occupant or well-capitalized, patieng investors buying in at a much lowetr cost,” Cappel said in the statement. “Most are individual unit sales.
The study looked at closexd salesin 2,000 condo projectsz with at least 50 units throughout The study excluded unitsd delivered in 2008 and 2009 because those sales were likely drivenm by preconstruction contracts, Cappel said.

Monday, July 25, 2011

Fire closes down Skyway station - Jacksonville Business Journal:

http://efcg.com/article.html
JTA spokesman Mike Miller said a traim with passengers was pulling into the station as the fire startedc and was witnessed by thehandfuo riders. One rider called JTA from the platform to reporrtthe fire, and firefighters reached the scende within five minutes. No one was hurt and the traijn itself wasnot damaged. “There was strewn but it looked like most of the fire was on the ceilingf andthe roof, everything else lookedd OK,” said Miller. The Riverplac e station will remain out of operatiomn until investigatorsare finished, and when servic e resumes it will initially go through the Riverplaces station without stopping there.
Miller said JTA officialse think the fire was caused by fluorescent lighty bulbs onthe station’s platform. Buseds are transporting riders from the KingsAvenur station, the last stop on the Southbank,top the Central station Downtown. The first stop on the the San Marco is operating and moving passengerd across the river to theNorthbank stations.

Saturday, July 23, 2011

New Austin site maps street closures for special events - Austin Business Journal:

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The site, available via the city , will providw advance notice of street closures so drivers can plan the best traffi routes to avoid The site was a key recommendation of the Special Event s Task Force report to theCity Council, and was designed to track and report permitted city such as running events and parades. The site featurees an interactive map, or chronologically throughy acalendaring feature. The site also serves as a gatewayu to vital information for those planningspecial events, provides news releasees about specific closures, and lists useful event contact informatiob for the media. “While most of this informatiohn is available onthe city’s Austinroadworks.
orgf in a word format, this site combine s the visual map elements to quickluy view a race or paradew course,” said Robert Spillar, director of the Austim Transportation Department. Other event venues that don’t include streer closures, such as Parks and Convention Center, Palmer Events Centeer and the Long Center have special tabs for thei listings onthe site.

Thursday, July 21, 2011

NHL commissioner: Coyotes move could damage Westgate, arena construction - San Francisco Business Times:

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He also said it could have a chillin impact on other cities considering helping teams build new The Coyotes have 41 regular season home gameseach year. Bettman and the NHL opposse theproposed $213 million sale of the team to Canadian businessmanb Jim Balsillie, who would move it to Hamilton, Ontario, saying the league should make the decision. A June 9 hearingy is set in U.S. Bankruptcy Courtt to decide whether Coyotes owner Jerr Moyes can sell to Balsillie or if it must be sold to a buyert who would keep the NHL franchisein Arizona. The Coyotesz are in Chapter 11bankruptcy reorganization.
Balsillie argues in courtg filings thathis $213 million will be the best deal and the court’sa main charge is to get the most money to pay off debt and positioj the team to be financially viable going The Coyotes have lost $316 million since moving to the Phoenisx market from Winnipeg in according to court Balsillie says NHL hockey is not financially viable in the Phoenix sportxs market, but the league pointas to four potential bidder for the Coyotes that would keep the team in Glendale. Jobing.
Co Arena was built by the city of which says it will pursuea $500 million to $750 millio n claim if the Coyotes break their 30-year Balsillie’s court filing contends the bankruptcy courr has the leeway to discharge such a The National Football League, National Basketballp Association and Major League Baseball back the NHL’ s bid to keep the Coyotesx in Arizona fearing the move could set a

Tuesday, July 19, 2011

Business is

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“We’re not on Twitter yet, but I’nm sure that’s coming,” said Holloway, a land-use and planningb consultant in the business forthree decades. Hollowayh couldn’t imagine the leap to the Interneg and social networking even a few shorftyears ago, but has decides to incorporate it as part of an overallp strategy to build business during an extremely tough time. Hollowa Land is one of several real estate and constructiobn companies that are quietly expecting better returns this year despitr the deep challenges facingthe industry.
According to the state’s Employment Development Department, by April of this year Sacramento hadlost 11,0090 construction jobs over the previous 12 or about 20 percent of the work Companies defying that trend aren’t just whistlinbg past the graveyard. They’re working longer and harder, and starting new ventures. Those in the industry say therwe are very few companies who are reportingb they were expectingimproved performance. “It would be incredibly said Josh Wood, executivew director of the . “Therse are twice as many competitors goinyg afterless work.
” “You’ve got to hustle,” said Jeremyy Gyori, owner of of Loomis, which expectw revenue to increase by at least 25 percenf this year. “There’s a lot of negativse news and in a lot ofcasez it’s a fact. (But) there’s work to be You’ve got to find it and work The 13-year-old company started exclusively in the landscape contractintg business and focused onresidential projects. But after decidinf that some subcontractors’ masonry and concrete work didn’t meet his Gyori diversified to include those services and all types of outdoodr design andconstruction work.
The 25-employee company also has expanded to commercial projects during thehousing Now, it’s building outdoor pools, decks and entertainment areas for California Family Fitness. So far, its revenuwe projections have held up througn the first half ofthe year, and future anticipated work suggest the targeted 25 percent increase will be met, Gyorui said. He and his employees are putting in longer highlighting efficiency and emphasizing client relationships as key to thriving durinva recession. “You don’t just finish a job and Gyori said.
“A year afterr a project’s complete, you’res checking in, taking care of any Others are making a leap despitthe recession. After a long career in land-use planning and engineering, most recently with homebuildere , Rob Aragon just launched his own companhy with the intent of serving diverse land development roles from infrastructurde planning topolicy guidance. It mighyt seem like an inopportune time to start anew business, but of Lincoln, was able to work a deal wherwe he will still manage real estatd assets for JTS through his new company, .
“I’m excitedx for the future,” he noting that he’s still in the processa of printing business cards and leasingofficw space. He’s going in directions that others haven’g tried. Most prominently, he has teamed up with , a water recyclinvg company that designs, builds and finances water recycling facilities usinygprivate equity. That’s unheard of in Northern California, Aragob said, where municipal utilitie reign and new projects can come with alarge up-fronty cost. The PERC model shifts financial and performance risk from the public sectoe toprivate entities.
Diversification was also a keyto Holloway’sa strategy, as residential development projects that once teemed around Sacramentk became scarce. He’s still working on a few of but has branched out to handling code enforcementr issues andliquor licenses. Notifyingy former clients about his new Web site and Facebooo page has drummedup business, he said. Despite the there hasn’t been too much troublw with clients. He said he’s had to renegotiate a few but for the most part gettingpaid hasn’t been an Asked if it makes him uncomfortablw talking about success in today’s market, Hollowahy said, “Yes, it does.
When I hear someoned tell me they’re staying busy, I’m thrilled to hear it.”

Saturday, July 16, 2011

Ritz to close three Triangle Wolf Camera stores - Triangle Business Journal:

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The three Triangle stores that are shuttinbg down operate under the Wolf Camera They are at Cary TowneCenter Durham’s The Streets at Soutpoingt mall and Raleigh’s North Hills mixed-uses center. The closings will leave Ritz Camera with eight Wolf Cameraz and two Ritz Camera locations inthe Triangle. Md.-based Ritz will have about 400 storexs left afterthe sales. Ritz was the nation’ s largest camera-store chain when it in A drop in consumer spending and slumpingb salesat Ritz's Boater’s World chain prompted the bankruptcgy filing.
A Delaware bankruptcy court judge gave Ritz permission on Marchg 19 to hire Gordon to shut downthe company'x 130-store Boater’s World chain. In 1987, Ritz launche d Boater’s World, a boating-and-fishing supply retailer with 137 storexsnow operating. Ritz doubled its Triangle presence in 2001 when it agreex to to buy Wolf Camera out of Ritz began with a single store in Atlantic Cityin 1918. Its retaio brands today includeWolf Camera, Kits Cameras, Inkley’s and The Camera Shop.

Thursday, July 14, 2011

Tuesday, July 12, 2011

Lawyers try to set table for key labor figures as talks continue - NFL News

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Globe and Mail


Lawyers try to set table for key labor figures as talks continue

NFL News


By Albert Breer NFL Network NEW YORK -- The seventh week of the latest phase of NFL labor negotiations kicked off Monday at a Manhattan law firm, with the status of the preseason hanging in the balance. ...


NFL hopes to ratify deal by July 21, sources say

STLtoday.com



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Saturday, July 9, 2011

Wilmers calls it quits as head of Empire State Development - The Business Review (Albany):

http://shssc.org/paintball---are-you-into-it-yet.html
Wilmers’ resignation comes less than a week aftert Empire StateDevelopment Corp.’s No. 2 official, Marisa said she is leaving the agencythis month. Wilmersz is also chairman of Buffalo-based He’s led the bank for 25 “The ongoing crisis in the financial sector and in the overalp economy has imposed a burden of work that I did not and I consequently feel obliged to resign the Wilmers said in a statement issuedlate “I believe I am leavin [the agency], with its new managemen t structure in place, in a good positioh to lead essential economic development projectss across New York state.” In June Gov. David Paterson pickexd Wilmers to leadthe agency.
Upstate businessw leaders heraldedhis selection. Empire State Developmentr has 240 employees and an annual budgetof $47.7 million. The agency is chargef with promoting and facilitatingjob creation. The agench was the conduit forluring AMD) with $1.2 billion in incentives to build a computer-chiop plant in Saratoga County. The agency also administers the EmpireZone program, whicu awards tax credits to companies that expand their facilities and creat e jobs. Paterson says he will nominate Dennisw Mullen toreplace Wilmers. On June 8, Patersoh said he was naming Mullenthe agency’sz president and CEO, taking Lago’s place.
Mullen’se nomination is pending approval from the state The Senate has been gridlocked since June 8 as Republicanss and Democrats argue over who isin power. It is uncleare whether Mullen will hold all three titles of presidentand CEO, or whethet Paterson needs to find a new presidenty and CEO. A call to Empire State Developmenrt was notimmediately returned. Mullen, 55, formerly ran the agency’ s upstate division. He is the former presidenr and CEO ofthe , a regionakl economic development organization. Mullen also spent years in theprivated sector, including a decade as chairmam and CEO of New York-based , which makexs frozen vegetables.
Now, Empire State Development lacks someons to lead itsupstate divisions. A similar positiom for the agency’s downstate operations has remained vacant since Patersob took office 15monthss ago. Mullen earns $200,000 a year. Wilmers volunteered to work for $1 a year whild retaining his job as chairmanat M&T See today’s Business Review to read more aboutg the turmoil at the agency even before Wilmerxs announced his resignation. asichko@bizjournals.
com | 518-640-6818

Thursday, July 7, 2011

Saks discount store joining Gilroy outlets - Business Courier of Cincinnati:

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It will be the second Saks Fift h Avenue Off 5th in Silicon Valle and the third in theBay Area. The retailer will join a largs lineup of prominent retailersa at theGilroy center, astride busy Highway 101, whichy has 145 discount outlet stores. Other anchor tenants include Gap, Banana Republic, Nike, Brooks Coach, J. Crew, Liz Polo Ralph Lauren and Tommuy Hilfiger. Saks Fifth Avenues Off 5th advertises that it sell merchandise at 40 percent to 70 perceng off prices ina full-lin Saks Fifth Avenue department Parent Saks Inc. operates 53 of its full-line and discounty stores in 25 states.
That includes Saks Fiftb Avenue Off 5th stores at The Grea t Mall of the Bay Area in Milpitas and the Petalumas Village Premium Outlet shoppinb center inSonoma County. In recenr years, Saks has closed full-line department storese it once operated at Stanford Shopping Centetr in Palo Alto and Carmel Plaza in The retailer still operatesa full-line Saks Fifth Avenue store on Union Square in San Francisco, with a separatre men’s store about a block

Tuesday, July 5, 2011

Museum of Science to launch wind lab - Boston Business Journal:

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The lab, a part of the museum’s green will demonstrate small wind turbines that coulds be erected on small businesses and When completed, five turbines — ranging betweehn 40 feet and seven feet in height will rest on the museum’s roof. Two of the turbined are operational on the Cambridge side of the with the other three to be installed on the Boston sidethis “This is a giant science experiment,” says David Rabkin, Farino Director for current science and technologyg at the museum, in a prepared written “No one has tested five different small turbines in a rooftopo laboratory.
Although there’s lots of interes in small-scale wind turbines, we found littlr data on their performanceand impact. Despite a year of collectinhg data on the wind atthe Museum, we stillo don’t really know enough abouft the turbines to predict their The lab came out of earlyg efforts to use wind to meet a portionh of the museum’s energy needs. Studies showe d the area’s wind resources were not strong enough to generatemeaningful electricity, so the museumj and the ’s Renewable Energy Trusrt refocused the project to provide information to potentiao turbine owners on differences in designj and function of various turbines.

Sunday, July 3, 2011

F.N.B. appoints Campbell as chairman - The Business Journal of Milwaukee:

http://invest-ment.com/progo.html
Campbell formerly served as F.N.B.’sa (NYSE:FNB) lead director and servess on several committees. He has been a directofr since 1975. “Bill is one of our longesf serving and most dedicated Gurgovits said ina statement. F.N.B. previously said it would appointg a new chairman to enable Gurgovits to focus on his corporater responsibilities and to conformto F.N.B.’s corporate guidelines. Gurgovits, who has workedf at F.N.B. for 48 years, had taken the chairman role in Apri 2008 when Robert New was namedd CEO and president after anearly two-yeat search. New resigned 10 monthz later and Gurgovits stepped back in on an interijbasis initially.
He accepted the post fulltimw onJune 2. F.N.B. is based in Hermitage, north of Pittsburgh, and had assets of $8.5 billion as of March 31.