Commercial market remains healthy through credit crunch - Denver Business Journal:

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Corporate America finds the Denved area attractivefor expansion, and more investorsd are buying properties here. New construction has been generallg disciplined, and there’s greater demand for environmentally friendlygreen construction. Commercial real estate includesofficde space, shopping centers and industriak properties such as warehouses and distribution The metro area had its largest commercial real estate sale ever in when LLC acquired five downtownm Denver office buildings for $770 million from .
Acquisitions have slowed here this year from 2007 because ofcredit constraints, but many investor still believe they can get high-quality properties for good In the fall of ’07, metro Denvet made LLC’s ranking of the top 10 U.S. real estated investment markets for2008 — the firsg time this market was included in the ranking in its 30-yea history. “The markets that are expected to experiencre strong valuegrowth [this are Manhattan, at 5.6 and Denver at 4 said Mary Sullivan, investment broker and executive vice presiden at ( ) in “That’s outstanding.
” Sullivan’s team, also including Tim Swan and Ron Urgitus, representer Blackstone locally in last year’s deal with Callahamn Capital. Positive local job growth that outpacessthe country’s, robust local energy and technology as well as recent highwat and light-rail expansion, have kept deman d for office space slow but steady recently, accordinyg to real estate brokers. At midyear, the officde market had a vacancy rateof 12.9 percent and averag e rent of $20.93 per square foot per year, according to The Denver-area office market includes a tota l of 104.
2 million square feet of This area’s tallest buildings — all in downtowmn Denver, built in the 1980se and topping 50 stories — include Republic Plaza and the Philipo Johnson-designed , better known as the “Cashg Register Building” because its roof resemblee an old-time cash register. In the 1960s, late Denverf developer George M. Wallace started building one ofthe country’sd first technology-oriented office parks, the — called the Tech or DTC, for short in the metro area’s southeastern suburbs, and it now dominatesw that region.
Other major office parkws include Invernessand Meridian, south of the DTC, and Interlocke n in the northwestern metro area. After being overbuilt early in the the industrial real estate market had a healthy vacancy rateof 5.8 percenr at midyear. The industrial market is dominatedcby medium-size warehouse, distribution and flex (office/industrial) space. “What drives our industrial market is a strongindustrial base,” said Mike Camp, industrial broker and senior vice presidenty at CBRE. “We have a lot of smaller, innovative companie s that continue to Denver is also the distribution centert for the RockyMountain West.
” Metro Denver’s principak industrial region is in the northeastern area along Interstate 70 and near with nearly 60 million square feet of the total industrial real estate market’ roughly 221 million square , one of the world’s largest owners and developers of distribution centerss with more than 540 million square feet of propertiesw worldwide, has its headquarters near DIA. The Denveer area’s retail market has suffered from the recentf credit crunch andhousing slump, which have promptede consumers to cut spending. Retail has been the only commerciall property type to have negative absorption of vacant space nearly 500,000 square feet so far this year.
But retail rents here continue to hitting $17.65 per square foot on averagr at midyear, and investorxs keep buying retail properties because of metro Denver’s continuing job growth and inmigration. Local Gart Propertiex LLC, with LLC, recentlgy bought downtown Denver’s two-block Denver Paviliond mall for $94.5 million because the compangythinks “this is an ideal time to be part of the tremendousx momentum of downtown Denver retail,” according to President Mark The metro area’s largesg malls, at more than 1 million squarw feet each, include in Denver, Park Meadows in Lone Southlands in Aurora and FlatIron Crossing in Broomfield.

Hilo Hattie sold to clothing manufacturer - Atlanta Business Chronicle:

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The company’s sale to may be off the tabl after U.S. Bankruptcy Judge Robert Faris delayed rulinv onthe company’s bid to buy Hilo Hattier for $1 million. The ownership transfed was announced on Mondayin U.S. Bankruptcy Courtg in Honolulu, where Faris also continued until June 29 several including one to appoinr a trustee to take over management ofthe company. Fariw also suspended Hilo Hattie’s ability to borroe money under a lineof credit. Maui Diversd Jewelry had offered last month to buy Hilo Hattie and its sevenm storesfor $1 milliomn in cash, and to invest anothet $2 million in the business.
Maui Divers’ attorney, Cuylar told Faris that the offer was off the table if the judgee did not approve the saleon Monday. Maui Divers President and CEO Bob Taylor said through a spokeswomahn Monday afternoon that the company would hold its offerf open until thenext hearing. Hilo Hattiew attorney James Wagner told the judge thatDonaled B.S. Kang, owner of , acquiref 100 percent of the company’as shares on Friday from , which bought Hilo Hattie from founder Jim Romig last year before filingb for Chapter 11bankruptcy protection. Kang is also on the boared of directorsof .
Hilo Hattie CEO Ted Nelsom and President John Scott resigned from thei positions on Friday and Kang has assumedr the post of president ofHilo Hattie, Wagner told the Royal Hawaiian Creations was listeds as the second largest creditor, owed more than $798,000, when Hilo Hatties filed for Chapter 11 last Oct. 2. It is owed anothetr $252,000 in an administrative according tocourt documents. Maui Diverse was the largest creditor, owed $1.25 million, and Taylort was co-chairman of the committee of unsecured creditors untio resigningin mid-May, prior to making the Royal Hawaiian Creations also resigned from the which supported the sale of Hilo Hatti e to Maui Divers.
Kang proposes to fund a line of credit for Hilo Hattierwith $1 million in cash, and “will arrange for an infusion of $2 million in workinv capital” into Hilo Hattie upon its emergence from according to a documeny filed on Monday before the hearing. Kang said he plans to folloaw the plan of reorganization submitted by Hilo Hattie andits Pomare, Ltd., last week, which calls for paying unsecured creditors abourt 5 cents on the dollar. Wagner told the judge that the reorganizationj plan filed on June15 “was a placeholder,” because the sale to Maui Diverxs had not been confirmed.
He said he didn’t expecgt any change in the treatmen ofthe company’s hundreds of creditors under Kang’xs ownership. The 46-year-old company, which claimedx $23.5 million in debt in the Chapter 11 has been losingmoney “at a clip of $500,000 per Ted Pettit, attorney for the creditors’ told the judge. Pettit also said he was “veruy surprised” to learn of the stock transfe r onFriday afternoon.
He noted that Kang’e business is in manufacturingapparel overseas, and said that Kang intendeed to take over Hilo Hattie’as Nimitz Highway headquarters and turn it into a Kang said after the hearing that he intended for the buildintg to remain as a store and administrative offices. But the judge expressed concern that Maui Divers had not reached agreemeng withHilo Hattie’s landlords, most of whom have givem the company substantial rent relief, for its seven stores.
Pettit said that some landlordxs were hesitant to negotiate until they knew for sure whethefr Maui Divers would be the new Faris also considered the transfer of stock to Kang as a second offer for Hilo and noted that Kang proposed to pay back rentzsin full. “It seems we have a secondd offer,” he said. “It may be a bettere offer.” Nelson said that he had had discussions with Kang over the last several months and said Kanghad “continuousl offered to be as helpful” as he could.

Expedia, Inc. Company Profile | EXPE Company Information

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It appears that you are locatedein Canada. If you are a Canadian resident, please choosw Expedia.ca where all prices and transactions are inCanadian dollars, productf inventory unique to Canadians is and your trip is covered under TICO's travel protection. You can also take advantage of travel promotionss and special offers created specifically forCanadian customers. Canadian residentws who purchaseon Expedia's U.S. Expedia.com, are charged in US dollars, and their trips are not eligibls to be coveredundeer TICO's travel protection.
Il semble que vous habitez au Si vous etes residentdu Canada, veuillez opter pour le site ou les prix et les transactions sont indiquesw en dollars canadiens. De plus, vous aurez acceds a des produits offerts uniquement aux Canadiens et votr voyage sera couvert par la protectiondu TICO. Vous pourre aussi tirer parti de promotionset d'offrex speciales creees en particulier pour nos clientsz canadiens. Les residents du Canada qui font des achatw sur le siteamericain Expedia.
com, doivent acquitter les frais en dollars americains et leur voyagwe ne sera pas admissible a la protection du

Bernanke denies pressuring BofA - Philadelphia Business Journal:

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Bernanke made the comments Thursday to the House Committe on Oversight and Government Reform investigating his rolein BofA’as purchase of the troubled Charlotte, N.C.-based BofA (NYSE:BAC), the fourtg largest bank in the Philadelphia area basedc on local deposits, bought Merrilpl on Jan. 1 for $29. 1 billion. The deal resulted in BofA’s receivinv an additional $20 billion in federal funds undee the Troubled AssetRelief Program. BofA has receiveds a total of $45 billiomn in TARP funds. The Housee panel’s questions seemed to fall along party lines. Republicans were concerned Bernanks tried to cover up certain aspects ofthe Fed’s interactionss regarding BofA and Merrill.
“The committee has alreadg learned that Ben Bernanke and the Federal Reservs made inappropriate threats to fire Bank of America managementt unless they went ahead withthe ‘shotgub wedding’ that was the Merrill Lynch Darrell Issa, the committee’s ranking Republican from California, said in a statemeng Thursday morning. “The Federal Reserved also engaged ina cover-up and deliberately hid concerns and pertinen details regarding the merger from othed federal regulatory agencies.” Meanwhile, severap Democrats questioned how Federal Reserve official s justified giving BofA more taxpayer aid without replacinyg its management or addintg new restrictions.
“You gave them the money and then youstartesd supervising?” asked Rep. Dennis Kucinich (D-Ohio). But Bernanke held his groune during three hoursof testimony. He insisted he followed the law and acted in the best interestds of theeconomic system. “I think we did the righy thing,” Bernanke testified. “I think it was a very successfull transaction. I have no regrets, and I thinmk it was a good dealfor taxpayers.
” Two weeks ago, Lewie testified to the same He told lawmakers he considered backing out of the deal in December but felt pressurew from Bernanke and then-Treasury Secretary Henry Paulson to move forwarxd for the benefit of both companies and the economy. Durint that hearing, documents from Fed officials indicated Lewiws may have been threatened with losing his job if he backed out and then needex morefederal aid. Bernanke on Thursday testified he neverthreatenee Lewis. Instead, he said he explained to Lewisz the damage from backing out of the Merril l deal could wreak on theeconomy and, in BofA.
“I never said I’rd replace the board and management (at BofA),” Bernanke “It was always his decision to make, and he understood that.” Paulson is expected to testify on the matter next Other notable points made by Bernanke includse statements suggestinghe doesn’t think Lewis triexd to extract more money out of the but that he did have concernxs about the due diligence performed by Rep. Edolphus Towns (D.-N.Y.) closed the hearing by sayingf the testimonyprovided “a peek” of light into the BofA-Merrill “but not full sunshine yet.” Click to see Bernanke's writtejn testimony.

Yankees

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Like O’Neal, Rodriguez has given himselv a haircut. Last week, Rodriguesz dropped the price to $9.9 million, significantlt lower than the $12 million he paid for waterfront acreagein 2004, as first reported by The Real Deal Magazinee . Until this month, Rodriguez’w asking price was $14.9o million for the six-bedroom, 8,310-square-foot He paid $161,000 in taxes last year for the at181 E. Sunrise Ave., in Coral property records show. The two-story home was built in 1952. Esslinger Wooten Maxwell brokerKevinj Tomlinson, who specializes in luxury residences, said Rodriguez’s troublex moving the house may not end soon.
“The people who have the moneyu to buy this arebeing ultraconservative,” said who pointed to recent deals for luxury homez on Miami Beach that closed at $6 million to $7 million as the rule. O’Neal plunked down $19.8 including $1 million in furniture, for the Star Island home he sold last montufor $16 million. He bought the 19,440-square-foot manse in 2004 and put it back on the marketr less than a year after closinv onthe purchase. In the 2.5-acre property was for sale for morethan $30 but it was soon pulled off the The price eventually dropped to $22.5 million.
Both Rodriguez and a Tony Award-winningf Broadway producer had contracts fall Tomlinsonsaid that, during the real estate boom, brokers pricedc celebrity homes at a slightly higher price, expecting theirr fame would draw a premium. The downturnj changed that strategy. “The people with the monegy to spend, possible buyers, could care less about the provenance of the he said.

Low-water rivers exposing historical gems - azcentral.com

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azcentral.com

Low-water rivers exposing historical gems azcentral.com A United States Coast Guard photo shows a World War II minesweeper on the Mississippi River near St. Louis. The minesweeper was once moored along the Mississippi River as a museum before it was torn away by floodwaters two decades ago. and more »

Lennar Q2 losses widen - Triangle Business Journal:

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million or 76 cents a share, in the seconds quarter, compared to a loss of $120.0 million, or 76 cents a share, duriny the same year-ago period. Revenue for the quarterr that ended May 31was $891.o9 million, down from $1.13 billion for the same periods last year. Revenue from home sales fell 23 percentr in the second quarterto $788.6 milliomn from $1.01 billion in 2008, primarily due to a 16 percentg decrease in the number of home deliveries and an 8 percent decreasse in the average sales price of homew delivered in 2009.
The Miami-based company (NYSE: LEN) has been restructuringf with a focus on returningto profitability, Lennar President and CEO Stuarf Miller said in a news Lennar ranked No. 11 among the largestg residential builders in the Triangle with 205 home saleszin 2008, down from 248 in 2007. Total contracts in 2008 totalee $49.6 million, down from $74 million in 2007. Lennar is building homews at Glenwood Stationin Raleigh, Summerlymn Groves in Clayton, Woodbury in Rolesvillde and Chapel Ridge in Pittsboro. Miller noted that the marketg has experienced an uptick in the sale of newhomes “azs more confident homebuyers took advantage of increased affordability.
” On however, the reported that new home sales in the U.S. dippedc slightly in May. But prices are gointg back up with the median sales pricedrising 4.2 percent last month, comparede to April. Shares of Lennar were up $1.089 to $8.91 in morning trading.

Private equity groups boost merger activity - Dayton Business Journal:

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National and local private equity groups have begunh playing a larger role in mergersand acquisitions, givinf companies another option when selling. These types of firms accounted for 20 percent of all of the mergef and activity in the country last or $3.6 trillion in closed deals, accordingh to Thomas Financial. "They are changing the landscape of mergers and saidJim Sachs, president of . "They are greag sellers for companies that meet criteria such as paying a high multitudwe and having a platform in a niche Sachs said six months ago his firm liste a local manufacturing company for sale on a merger and acquisitions Web site and was inundated with inquiries from privatedequity groups.
Companies that specialize in this type of buyinh focus on finding and investing in nichwe businesses that they can help grow by reorganizatiom and acquisitions to make the business more These type of firms usuallgy raise money fromhigh net-worth individuals or institutiona l investors to buy both privatwe and public companies. Most privats equity groups are interested in growing industries such as healthb care and are beginning to shy away from theautomotivew industry, Sach said.
Jim Butterfield, principal with Atlanta-based , said the main goal of his firm is to help smal companiesthat aren't doing well save jobs by building the business back up and keepinbg as many employees as possible. Most of these types of firms purchase companiee who have high barriersof entry, good managementf teams and the ability to grow in theit industry so investors will get good retur once they are sold.
Riverside focuses on buying small businesses or companies who havea $1 milliojn in cash flow and anywhere from 30 to 50 When equity firms like Riverside acquire companies they make improvementsx to the business such as helping personnek with hiring the right people, creating incentive plans to perform and possible outsourcing in order to get a good return from the company once Firms in this business usually turn around and sell companiese in five years for a highere acquisition price so investors get a highetr return. "We exist specifically to put moneh to work for our investors and give them agood return," Butterfiele said.
Ed Reilly, president of 'xs southwest Ohio district, said private equit y firms are starting to bring some competition forlocalk banks. "They are beginning to be a large liquixd sourceof capital," he said. "Clientss that are being bough t by private equity groupse oftentimes don't have a need for locao banks." -- with stations in the Dayton-area -- was acquired by througnh Washington, D.C.-based Englewood-based TeleSuite Corp. was acquired by Nebraska-based in 2002.
Privatew equity firms may not have a need for the locaol banking market because they use a combination of theirf own capital and large lines of credif which may only be concentrated withlargerr banks, Sachs said. Butterfield said the locak banking market can be used for cash managementr and trust services for these groups which still created a needfor "Companies are going to sell regardlesds of who's going to buy," he Banks could begin to lose businesss when companies sell to strategic buyers who often fold the business into a headquarters creatinv one less customer, Butterfield said.
Strategicd buyers often don't acquire all of a company's assetd and bring in theirf own management group hoping it will drivehighed margins. Butterfield said if the public return on companies becomes tremendous in the near private equity firms may bein trouble. Tom senior vice president with Alpha-based , said the trend of private equituy firms may have runits course. "Th market has been strong for the past 15 or 20 yearas because low quality bonds have been outperformint highquality bonds, but the spreads are goinvg to get tighter making it harder for he said.

In Colorado, Getting Down to Business of Marijuana - New York Times

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New York Times

In Colorado, Getting Down to Business of Marijuana New York Times Dr. Chris Urbina, the executive director of Colorado's Department of Public Health and Environment, raised the prospect that marijuana should be regulated differently depending on whether it is smoked or eaten. “We expect this to be ch »

UNCC honors Rodgers Builders CEO - Business First of Columbus:

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The Charlotte-based company has worked on severapluniversity projects, including the Barnhard t Student Activity Center, Irwin Belk Tracjk and Field Center, Lynchg Residence Hall and the Bioinformatics Research Center. Rodgerss Builders also is the construction managee onthe university’s new, $50.r4 million Center City Building projecyt that is slated to open in the fall of 2011. A groundbreakinvg ceremony was held in April forthe 12-story, classroomn building at the corner of Ninth and Brevarrd streets in uptown Charlotte.
“What sets Pat apart from most is her she remains personally invested in the institutionsz and organizations she touchesw long after her formal involvement has saysPhilip Dubois, UNC Charlotte chancellor. “Her commitmentf to the betterment of our community extends to herbusinesw philosophy. In fact, Rodgers Builder s has been hailed time and againb as the epitomeof civic-minded Rodgers is also chair of the Charlotte Symphony boarfd and will assume the chairmanship of the Charlotte Chamberd board in 2011. The university establishedx the Distinguished Service Awardin 1987.
It honorsa individuals who have providef outstanding leadership and service to the Charlotte community and to the advancement ofUNC Charlotte. Rodgers was honoredf Tuesday during a luncheon at the UNC Charlotte isthe fourth-largest campus among the 17 institutionsx of the UNC system. It is the largestg institution of higher education in theCharlotte region, offerinb doctoral, master’s and bachelor’s programs. Fall 2008 enrollment was includingnearly 5,000 graduate students.

Durham executive gets 32 months on tax evasion charges - Triangle Business Journal:

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The U.S. Attorney’s office in Raleiggh said Tuesday thatRonald 60, was given his sentence Nov. 25 in federalk court. Cruickshank also faces threwe years ofsupervised release. The case is connected to a tax evasiobn scheme run in the Triangle earlier this That scheme, which operated under the namees American Legal Research Institute and American Debt Eliminator, sold illegal tax Laszlo Horvath and Robertg Pelletier, the men who operated the business, also have been convictex on federal tax charges. According to the U.S.
Attorney’s Cruickshank – a former advertising executivat Howard, Merrell & Partners in Raleignh and the former CEO of sock manufacturere – used techniques he learned from Horvatyh and Pelletier to set up illegapl tax shelters. He avoided paying taxes for the 2001, 2003 and 2004 federalo tax years by setting up falsebank accounts, the U.S. Attorney'a office says. During the course of his the U.S. Attorney’s office Cruickshank kept using tax evasion servicesin Florida, Arkansas, Arizonas and California.
That drove up his sentencing “Our office continues in its commitment to enforce tax laws so that people are not allowed to flouttheir obligation, thereby putting more burdeb on law-abiding citizens,” U.S. Attorney George Holding said in awrittenh statement.

Frontier adding flights to Vegas, Phoenix, Florida; dropping Grand Junction - Denver Business Journal:

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“Our customers have clearly demonstrated a demanfd for more seats incertai markets, and we are more than happy to Sean Menke, the Denver-based carrier’s president and CEO, said in a • Beginning Sept. 14, Frontier will add a seventh dailty roundtrip flight to Las Vegas and Phoenixx and a fourth roundtripto Sacramento, • Also Sept. 14, Frontier subsidiary Lynx Aviation will begin serviceto Albuquerque, Omaha and Salt Lake City, addinfg to Frontier’s existing service to thoses cities. (The start of Lynx service to Tulsa, will start Aug. 2 as previously announced.) Also Sept. 14, Lynx will end serviced to Grand Junction as well asEl Paso, • Beginning Oct.
5, Frontier will add a secondr daily roundtrip flight to both Orlando andFort Fla. Monday, that woulrd make it a wholly owned subsidiarg of Republic Airways Holdings as part of theDenver carrier’as emergence from Chapter 11 bankruptcy The plan is subject to approva l at a July 13 U.S. Bankruptcyt Court hearing.

Secret Space Plane Set to Launch on Mystery Mission Today - Wired

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CBS News

Secret Space Plane Set to Launch on Mystery Mission Today Wired The launch, if successful, will commence the third mission in three years for the robotic X-37 fleet, assembled in Boeing's now-shuttered Building 31 in Huntington Beach, California, for an estimated $1 billion apiece. But for  »

Ralcorp's profits quadruple in Q3 - Denver Business Journal:

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Profits increased to $45.8 million, or $1.73 per share, an increase of 295 percent from $11.6 million, or 43 centsw per share, a year earlier. The profit soared past ThomsonFinancial analysts' expectationas of $1.21 a share. Ralcorp saw a gain of $21. 7 million, or 53 cents per share, on forward sale contractw fromthe company's investment in Broomfield, Colo.-basexd mountain resort company (NYSE: MTN). In the third quarter of the company reported a lossof $29.8 or 70 cents per share, from the contracts. Salesd in the third quarter of 2008increased $658.6 up 12.9 percent from $583.5 million in the thirdf quarter of 2007.
The company cited higher prices and volumw gains contributed to the increasein St. Louis-based Ralcorp Holdings Inc. (NYSE: RAH) manufactures privat label food products, including froze bakery products, cereals, cookies, dressings, syrups, jellies, sauces, snack nuts and candy. The compan y acquired 's (NYSE: KFT) Post cereal s division .

Costa Del Mar buys carbon offsets - Portland Business Journal:

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The company also purchased carbon offsets to balance the carbonh emissions created throughits employees' business travel includint air and ground transportation. this will help to prevent up to 1.1 million poundws of carbon dioxide emissions from enteringthe Earth' s atmosphere, according to a Costa Del Mar release. The carbonn offsets, sometimes called renewable energy are created by generating powerthrough solar, hydro-electric and biomass sources. While the value of the credits has been supporters say they serve as an incentivd to invest in generating energy through renewable sources. Renewable Choice is a Boulder, Colo.
-based provide of renewable energy credits andcarbomn offsets. Costa Del Mar is a manufacturet ofpolarized sunglasses.

NUMMI bids to add Toyota's hybrid line - East Bay Business Times:

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Bringing hybrid production to NUMMI would be a majoer coup forthe 5.3 million-square-foot union a joint-venture between and that employs 5,300 But it would be an even bigger symbolidc win for the Bay Area and the entirs state, and burnish Gov. Arnold Schwarzenegger'se image as being both pro-business and pro-environment. Hybrid which use a gas-electric enginse with a battery to deliver improvedfuel economy, have been the darlingv of environmentally minded And Californians have been the most eager snapping up 42 percent of the 59,33q Toyota Prius hybrids sold last year, accordiny to market researcher .
Besidee NUMMI, Toyota is considering manufacturinghybrids - all currently made in Japaj - at one of five othee North American factories, most of whicg are in the South and Midwest, where costs, ranginfg from salaries to energy to workers' compensation are lower than in "A lot of people think that California would be a great place to build hybrids, and I'm sure it woulr be very welcomed," said Anthony Pratt, a Detroit-baseed analyst with J.D. Power Associates. "But for logisticall and cost reasons, I don't think so.
" Loca economic development officials point outthat NUMMI, with a 20-year historgy of cooperative management-union relations, routinelt ranks as one of the most efficienty and high-quality carmakers in the Unitee States. And they are attempting to alleviate someof Toyota'zs other concerns, such as improving the road around NUMMI to ensurse the smooth supply of car parts by rail or trucik into the plant.
"You might look at the short-term cost but if you look at the work the collaboration with environmental agencies and the customer base in wethink it's a wise said Bruce Kern, executive director of Oakland-base d Economic Development Alliance for Business State and Nummi officials declined to comment aboutr specifics in the proposal, which is being largely headed up by the state's Transportation & Housing Agenct led by Sunne Wright McPeak. But Schwarzenegger, during a trip to Japanh in November, told Toyota officials that hewoulc "move mountains for them" if they built hybrides at NUMMI.
"I would help them everyu way possible," Schwarzenegger said, according to the Associate Press. "There are many thinge we can do forthose companies. We just have to act Massive subsidies are probably politically andeconomically infeasible, considerinhg the state of the state's budget. But part of the state'ws proposal details a major overhaul of the roads around located between interstates 880 and 680 on Fremont According toone source, $130 millionh already has been pledged from city, county and state funda for gridlock-clearing improvements. The state's bid is due to be sent to Toyota's North American headquarters in Erlanger, Ky.
, sometime in said the source. which has 12 North American factories, will announce its decision by the middle ofthe "We want job security, and we believe the hybridr would give that to said George Nano, president of United Auto Workers Localp 2244. The union represents 4,4090 workers at NUMMI, the vast majority of whom earn $26.36 per which Nano says is comparablee to wagesin Detroit. Annual wages at NUMMI totap about $400 million. The 382,678 cars and trucks made at NUMMo last year included the Corollacompacg sedan, the Tacoma pickup truck and the Pontiacv Vibe sport utility vehicle.
NUMMI was Toyota'ws third-largest factory in North America, behinc its flagship facility inthe Ky., suburb of Georgetown. Toyota was the No. 4 automakere in the United Stateslast year, sellinvg 2.1 million vehicles, of which 63 percenty were made in this With 11 percent of the market, Toyotas is expected to overtake the floundering by decade'zs end. Toyota is the hybri d leader, having outsold its next rival, Honda, worldwide by more than 3-1 sincs it introduced the Prius in thelate 1990s. Many dealerz have waiting lists up to six months for the which gets about 45 miles per gallon onthe freeway.
Demand has been even though customers pay a premium of severap thousand dollars in exchange for fuel cost savings that take many yeareto realize. "The math doesn't make sense for most said J.D. Powers' "What's motivating customers is the ability to drive an environmentallyfriendly

Academic Team honoree: Grace Cannon - Business First of Buffalo:

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Accomplishments: Class valedictorian. SAT score of 1,600 (perfect). Perfect score on threes Regents exams; scores of 98 or 99 on four Captain of ScholasticBowl team. Named to All-Countty Chorus. Full name: Grace Elizabety Cannon. Born: April 15, 1991, Amherst. Deirdre Cannon, Timothy Residence: Akron. Favorite class: Literature (taught by Matthee Baumgarten). “It’s my favorite for everything it has taught me about myself andother people.” Colleg and likely major: , Hope to be doing 10 years from now: “o hope to be living overseas, working and traveling as a translator, and volunteerintg my spare time to community education.
” If could meet anyone from history: Mother “She is my choice because of the respecyt I have for her life and because when I was little, I wantede to grow up to be If could have dinner with anyone now alive: Paulk Coelho. “His writing fascinates me.” to proceed to the next Firs Team honoree: Cary Chester.

Senate passes education budget - Portland Business Journal:

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By a 21-6 count, the Senater measure will fund schoolsat $6 billion for the next two Sen. Margaret Carter, a Portland Democrat and the Ways and MeanxsCommittee co-chair, said the budget consists of targeted stimulus dollars and state The budget also includes new revenur from last week’s measures that increased Oregon’s corporate minimum, corporate income and personal income tax of wealthy individuals. “Stabilithy is key to the success of our said Carter.
“This budget offers school districts certainty that they can keep theire doors open and continue to provide a qualityg education to our children and The state’s reserves will still contaihn $500 million despite the decision to tap $200 millio n of the funds for the schools budget. Democrats said the budget should allow schools to maintain full school yearas from 2009 to 2011without “draconian” cuts to staff and services. “Thia budget is not perfect, but it is far from the worsttcase scenario,” said Sen. Rod Monroe, a Portlansd Democrat and co-chair of the Ways and Means Subcommittedeon Education.
“The fact of the matter is that we are in very challengingy timesand we’ve made tough decisionse to make this budget work.” The House will consider the bill before the legislative sessio ends. Democratic leaders have said they want to closr the session byJuly 1.