ihituvofy.wordpress.com
The first floor of the facility isa full-servicde banking operation, while the second flooe houses the bank’s corporate offices. The structure sits adjacenty to the office building wherer President and CEO Larry Barbour first opened Nortyh State inJune 2000. During construction, Barbour shiftex his base of operations toNorth State’sd office at . Returningv now to the Falls ofNeuse location, Barbout says, “does feel a bit like going North State, as of March 31, had total assets of $720 total deposits of $669 million and net loanzs of $542 million, according to the Federal Deposiyt Insurance Corp..
The banks’ totalo footprint is comprised of six Wake County a Wilmington branch and a loan production office inCarterert County. As of Marcy 31, the bank had a staf f of 100.
Friday, December 30, 2011
Wednesday, December 28, 2011
Hercules Technology Growth is living up to its name - Silicon Valley / San Jose Business Journal:
azajir.wordpress.com
Observers say the firm's aggressivwe strategy to lendto high-risi early-stage, venture capital-backed companies and its solix relationships with venture investors has helped buile the value of its loan portfolio beyonsd $530 million in just four years, whild traditional financiers tighten lendingh standards and struggle to grow revenue. And Herculexs says the credit crunchn might just be playing tothe firm's Hercules posted record revenud in the fourth quarter of 2007 of $15.8 an 82 percent increase over 2006. The companty grew its net incomew by 424 percentto $20.67 million. For the year, the company grew net incoms in 2007 by 273 percentto $42.4 million.
And it loaned out $367 Hercules credits several factors for its record venture capital raised and investedin 2007, a lengtheningg of venture-backed companies time to exitsx and the volatile capitak markets that make public offerings more risky. "Those are the interestintg phenomena that really bode well forour business," says Herculesx CEO Manuel Henriquez. The firm says it's builtr an aggressive team that has helpefd it win more deals likeits $15 million loan announced Jan.
29 to 30-million-user social network hi5 Hercules has positioned itself to bea front-runner in high qualityh deals by the relationships its forged with venture capitalists, says Dave a partner at Mohr Davidow Ventures and a boare member of hi5. Since Dec. 2, the firm has announced $94 milliom in financing to venture-backed "They're looking for a sort of blue chip VC firm to have made a reasonabld investment intothe company," Feinlib says. "We'vd certainly done tons and tons of due diligence in the companiese that we invest inand they're leveragingf that.
" Hercules is set up as a business development company, which requires it to distribute 90 percent of its taxablee income as dividends but exempts the company from payingv corporate income tax. That helps the firm compets onloan rates, Henriquez Competition among venture debt which include commercial banks such as Siliconh Valley Bank, and Square 1 has heightened over the last several yearx as venture capital money has continued to flow here.
"Ventur debt providers have become more aggressivw lately and are providing better termson debt," says Ian Patricm Sobieski, managing director of Band of But if record revenue is something to cheert about, Wall Street hasn't been greatly impressed. Hercules saw barelu a blip in its stock pric from its earningsannouncement Feb. 7. And its stocl was trading near $12.25, squarel y in the middle of its 52-wee k range, at press time. "The problej is, it's like whack-a-mole," Henriquez says. "It doesn'tg matter how well we do. Our other brethren in the mid-market get whacke and we get painted with thisbroad brush.
"
Observers say the firm's aggressivwe strategy to lendto high-risi early-stage, venture capital-backed companies and its solix relationships with venture investors has helped buile the value of its loan portfolio beyonsd $530 million in just four years, whild traditional financiers tighten lendingh standards and struggle to grow revenue. And Herculexs says the credit crunchn might just be playing tothe firm's Hercules posted record revenud in the fourth quarter of 2007 of $15.8 an 82 percent increase over 2006. The companty grew its net incomew by 424 percentto $20.67 million. For the year, the company grew net incoms in 2007 by 273 percentto $42.4 million.
And it loaned out $367 Hercules credits several factors for its record venture capital raised and investedin 2007, a lengtheningg of venture-backed companies time to exitsx and the volatile capitak markets that make public offerings more risky. "Those are the interestintg phenomena that really bode well forour business," says Herculesx CEO Manuel Henriquez. The firm says it's builtr an aggressive team that has helpefd it win more deals likeits $15 million loan announced Jan.
29 to 30-million-user social network hi5 Hercules has positioned itself to bea front-runner in high qualityh deals by the relationships its forged with venture capitalists, says Dave a partner at Mohr Davidow Ventures and a boare member of hi5. Since Dec. 2, the firm has announced $94 milliom in financing to venture-backed "They're looking for a sort of blue chip VC firm to have made a reasonabld investment intothe company," Feinlib says. "We'vd certainly done tons and tons of due diligence in the companiese that we invest inand they're leveragingf that.
" Hercules is set up as a business development company, which requires it to distribute 90 percent of its taxablee income as dividends but exempts the company from payingv corporate income tax. That helps the firm compets onloan rates, Henriquez Competition among venture debt which include commercial banks such as Siliconh Valley Bank, and Square 1 has heightened over the last several yearx as venture capital money has continued to flow here.
"Ventur debt providers have become more aggressivw lately and are providing better termson debt," says Ian Patricm Sobieski, managing director of Band of But if record revenue is something to cheert about, Wall Street hasn't been greatly impressed. Hercules saw barelu a blip in its stock pric from its earningsannouncement Feb. 7. And its stocl was trading near $12.25, squarel y in the middle of its 52-wee k range, at press time. "The problej is, it's like whack-a-mole," Henriquez says. "It doesn'tg matter how well we do. Our other brethren in the mid-market get whacke and we get painted with thisbroad brush.
"
Monday, December 26, 2011
Lockheed-Starwood solar plant construction will create many jobs - Puget Sound Business Journal (Seattle):
ibitasony.wordpress.com
Last week’s announcement that and Globall LLC were collaborating ona 290-megawat t facility about 75 miles west of Phoenix meanas Arizona contractors will get some of the said Chris Myers, Lockheed Martin’z vice president for energy The companies still are evaluating subcontractorsz for the proposed $1.5 billion power plant, dubbed Starwood Solar I. Some such as creating the mirrored troughs that will focu sthe sun’s energy, typically is done by specialize companies, Myers said, but there will be plenty “We’re going to do a lot of the work here in he said.
Steel manufacturing and other industries could benefit from an increased Arizona focus onsolar construction. Starwoodr and Lockheed Martin estimate 1,000 jobs will be created as a resultg ofthe construction, and an additional 6,000 couldc result from supplier relationships. The companies plan to hold recruitmengt events this summer to inform localp companies aboutthe opportunities, Myersx said. In the meantime, the company is using a newlgy launchedWeb site, www.starwoodsolar.com, to distribute information and tell businesses how they can get involvedr with the project.
The construction also will requirw infrastructure upgrades at transmission facilities to tie inwith Starwood’ss facility. Included in those upgradesd will be work at Arizona PublicServicse Co.’s Delaney substation, which Starwood will fund up APS, which has agreed to purchaswe power from the solar plant, has funds earmarked in its 2012 budgety for expanding the Delaney substation. “Tpo bring in something that large, therw are going to have to be saidStephen Zaminski, Starwood’e executive vice president and managinf director. Starwood operates about 40 other powerd plants and owns all or part of several transmissionj routes throughfive states.
It began its partnershio with Lockheed about 18 monthsd ago as both lookefd for a site fora utility-scale Starwood runs its solar operations via subsidiary Nautilus Solar LLC, whicj has done several largr commercial-scale projects, but nothing as big as what the two are attemptinyg in the Harquahala Valley. The two companies believe theitr combined relationships with financial institutionds will help them overcome the financing hurdles that have stalled several othersolar projects.
Some majorf project announcements of the past few years have been delayerd because companies that signeddealw couldn’t take the next step towardd developing a commercial product, said Madison vice chairman and senior managing director for “The folks who take it to commercialization have to realize there’s a different skill set needer to take it to the next level,” he Another hurdle is getting financial institutionse and utilities comfortable enough with the solar conceptg that they view it the same way as traditional powerr plants, Grose said.
The companiees are planning to spened the summer conducting public meetings on the projec t with submissions to the ArizonaCorporation Commission, whicy must approve the power purchase deal by this said Brad Nordholm, CEO and managing director of The company hopes to get its buildinbg permits and ACC approvals settled by get its financing in place and move forward with constructionm by the latter half of that Nordholm said.
Last week’s announcement that and Globall LLC were collaborating ona 290-megawat t facility about 75 miles west of Phoenix meanas Arizona contractors will get some of the said Chris Myers, Lockheed Martin’z vice president for energy The companies still are evaluating subcontractorsz for the proposed $1.5 billion power plant, dubbed Starwood Solar I. Some such as creating the mirrored troughs that will focu sthe sun’s energy, typically is done by specialize companies, Myers said, but there will be plenty “We’re going to do a lot of the work here in he said.
Steel manufacturing and other industries could benefit from an increased Arizona focus onsolar construction. Starwoodr and Lockheed Martin estimate 1,000 jobs will be created as a resultg ofthe construction, and an additional 6,000 couldc result from supplier relationships. The companies plan to hold recruitmengt events this summer to inform localp companies aboutthe opportunities, Myersx said. In the meantime, the company is using a newlgy launchedWeb site, www.starwoodsolar.com, to distribute information and tell businesses how they can get involvedr with the project.
The construction also will requirw infrastructure upgrades at transmission facilities to tie inwith Starwood’ss facility. Included in those upgradesd will be work at Arizona PublicServicse Co.’s Delaney substation, which Starwood will fund up APS, which has agreed to purchaswe power from the solar plant, has funds earmarked in its 2012 budgety for expanding the Delaney substation. “Tpo bring in something that large, therw are going to have to be saidStephen Zaminski, Starwood’e executive vice president and managinf director. Starwood operates about 40 other powerd plants and owns all or part of several transmissionj routes throughfive states.
It began its partnershio with Lockheed about 18 monthsd ago as both lookefd for a site fora utility-scale Starwood runs its solar operations via subsidiary Nautilus Solar LLC, whicj has done several largr commercial-scale projects, but nothing as big as what the two are attemptinyg in the Harquahala Valley. The two companies believe theitr combined relationships with financial institutionds will help them overcome the financing hurdles that have stalled several othersolar projects.
Some majorf project announcements of the past few years have been delayerd because companies that signeddealw couldn’t take the next step towardd developing a commercial product, said Madison vice chairman and senior managing director for “The folks who take it to commercialization have to realize there’s a different skill set needer to take it to the next level,” he Another hurdle is getting financial institutionse and utilities comfortable enough with the solar conceptg that they view it the same way as traditional powerr plants, Grose said.
The companiees are planning to spened the summer conducting public meetings on the projec t with submissions to the ArizonaCorporation Commission, whicy must approve the power purchase deal by this said Brad Nordholm, CEO and managing director of The company hopes to get its buildinbg permits and ACC approvals settled by get its financing in place and move forward with constructionm by the latter half of that Nordholm said.
Friday, December 23, 2011
Wednesday, December 21, 2011
Department of Transportation's window pain - Washington Business Journal:
iwegasely.wordpress.com
just can’t catch a break. The Italianm Carrara marble facade at itsformerf headquarters, the Nassif building in Southwest D.C., starterd bowing almost as soon as it was delivered in the requiring a three-person crew just to keep the facadwe from separating from the building. Now DOT’s 2-year-old headquarterxs in the Southeast ballpark districty has a problem ofits own: shatteredf glass. On three separate occasions, the building’s 9-by-5 foot tempered-glass windowds overlooking the atrium have shattered for noapparenr reason, according to sources. In a fourth and latesr episode, a smaller decorative glass pane was found brokenn onMarch 23. The area is now cordoner off.
No one was injured in any of the which took place over the lasttwo years, says a DOT Famed architect Michael Gravesx and DMJM, now known as AECOM , designed the 1.35 million-square-foort headquarters for The JBG Cos. , which won a competition to buildr the facilityin 2001. The complex sits on M Streett SE in the shadow of Nationals The has submitted the latest shatteredd pane to a test laboratory to determine the mostlikelyh cause. One suspect we would rule out a Natshome run.
… The local Indian communitt was stunned in November when VijagyTaneja , a prominent Virginia mortgage brokert and Bollywood film investor, pleadec guilty in what may be the largesg Virginia mortgage scam in recent Now one victim, , has filed a federall lawsuit, on March 18, to recoup some of its losses in the scam. In Taneja’sd guilty pleas, he admitted he and his Fairfax-based Financial Mortgage Inc. , bilked Wellsx Fargo and three other banks of atleasg $33 million by fraudulently selling them loansa on 17 homes that already had mortgages on The banks had been led to believe they were buying the highest-priority notes on the properties.
In Wells Fargo says it lost morethan $9.7 millioj in Taneja’s scam and wants Minneapolis-based Old Republic Nationakl Title Insurance Co. to pay up under titl e policies it issued onthe properties. Old Republic has denied coverage forthe losses, accordintg to the lawsuit, which was filed by a D.C.-based insurance law firm, Gilbert Oshinskyy LLP . Wells Fargi declined to comment, and Old Republic did not respondc toInner Loop’s inquiry. … It was a busy winterr for a special task force targetinhg mortgagefraud cases. The FBI’s Washington Field Office’s case load more than doublexd in the first six months of the fiscal whichbegan Oct.
1, said Supervisorg Special Agent Adam SidneyLee . The FBI, D.C. and Fairfax Countyt police created a task force in Octobedr to tacklethe scams. Lee says there’s been “a dramatidc surge in down-market schemes,” mainly in foreclosurew rescue scams. To throw more manpower behinedthe problem, the FBI also doubled the number of agents workingv mortgage fraud cases. “The crime problems in Virginia and Marylaned arecomparable — both have substantialp inventory and new constructiob which provides fertile territory for mortgage Lee says.
“Most striking is the surge of foreclosuresd in Washington between 2007 and2008 — where there are foreclosures, we will find criminaol activity.” … Money can still be made selling fake real estates — virtual money, at least. On Facebook, The Towert Cos. ’ Abramson family is making a killingon “Real Estate Tycoon,” a popularr fantasy real estate game where playersd buy and sell virtual property to build net Brian Abramson , who runs The Blairss apartments in Silver Spring, has hit status in the game. His virtua l net worth? It’s now hovering in the rangw of $16.7 trillion.
He “owns” the Taj Mahal and the Palaceeof Versailles. His sisters, Marnie and Amandas , aren’t doing nearly as well. Amandw is worth just $733,000, while Marnie stands at $9.1 million. Their Jeffrey Abramson — who recently attended a mini-Beatlese reunion concert to raise fundx forthe ’s push for meditation in trouble public schools — would probably remind his kin that money is really such a limiting concep t in the greater Which would be a good familyy mantra, since a man whose initials are B.M. (it rhymesw with Ernie Laid-off) absconded with some of the Abramsoh family’s real-life money as part of his $50 billion Ponzu scheme. . . .
Idea: Timing: not so much. announced in August 2008 it plannedd to raise awhopping $70 million to $100 milliojn in startup capital to becom e the largest new bank in Virginia history. Then came September. The near-collapsse of the financial system scared the bejeezu s out of bank investors and made raisinyg bank capital about as easy as squeezing bananqa juice out ofa mango. Given the fundraising our banking reporter, Bryant Ruiz Switzky, checked in on Xenith’s plan. The bank has switchecd gears and is now lookingfor “ relatively small merger partnerd as a way to structur e the opening phase of the bank,” Gaylon Layfielcd , Xenith’s CEO, told Switzky.
The bank has stopped but if it can’t find a mergedr partner, it may go back to Plan A. The original plan gave it untill June 30 to raise the Layfield declined to say how much the bank has raisecso far, but in November he said it had raiserd “well north of $50 million.”
just can’t catch a break. The Italianm Carrara marble facade at itsformerf headquarters, the Nassif building in Southwest D.C., starterd bowing almost as soon as it was delivered in the requiring a three-person crew just to keep the facadwe from separating from the building. Now DOT’s 2-year-old headquarterxs in the Southeast ballpark districty has a problem ofits own: shatteredf glass. On three separate occasions, the building’s 9-by-5 foot tempered-glass windowds overlooking the atrium have shattered for noapparenr reason, according to sources. In a fourth and latesr episode, a smaller decorative glass pane was found brokenn onMarch 23. The area is now cordoner off.
No one was injured in any of the which took place over the lasttwo years, says a DOT Famed architect Michael Gravesx and DMJM, now known as AECOM , designed the 1.35 million-square-foort headquarters for The JBG Cos. , which won a competition to buildr the facilityin 2001. The complex sits on M Streett SE in the shadow of Nationals The has submitted the latest shatteredd pane to a test laboratory to determine the mostlikelyh cause. One suspect we would rule out a Natshome run.
… The local Indian communitt was stunned in November when VijagyTaneja , a prominent Virginia mortgage brokert and Bollywood film investor, pleadec guilty in what may be the largesg Virginia mortgage scam in recent Now one victim, , has filed a federall lawsuit, on March 18, to recoup some of its losses in the scam. In Taneja’sd guilty pleas, he admitted he and his Fairfax-based Financial Mortgage Inc. , bilked Wellsx Fargo and three other banks of atleasg $33 million by fraudulently selling them loansa on 17 homes that already had mortgages on The banks had been led to believe they were buying the highest-priority notes on the properties.
In Wells Fargo says it lost morethan $9.7 millioj in Taneja’s scam and wants Minneapolis-based Old Republic Nationakl Title Insurance Co. to pay up under titl e policies it issued onthe properties. Old Republic has denied coverage forthe losses, accordintg to the lawsuit, which was filed by a D.C.-based insurance law firm, Gilbert Oshinskyy LLP . Wells Fargi declined to comment, and Old Republic did not respondc toInner Loop’s inquiry. … It was a busy winterr for a special task force targetinhg mortgagefraud cases. The FBI’s Washington Field Office’s case load more than doublexd in the first six months of the fiscal whichbegan Oct.
1, said Supervisorg Special Agent Adam SidneyLee . The FBI, D.C. and Fairfax Countyt police created a task force in Octobedr to tacklethe scams. Lee says there’s been “a dramatidc surge in down-market schemes,” mainly in foreclosurew rescue scams. To throw more manpower behinedthe problem, the FBI also doubled the number of agents workingv mortgage fraud cases. “The crime problems in Virginia and Marylaned arecomparable — both have substantialp inventory and new constructiob which provides fertile territory for mortgage Lee says.
“Most striking is the surge of foreclosuresd in Washington between 2007 and2008 — where there are foreclosures, we will find criminaol activity.” … Money can still be made selling fake real estates — virtual money, at least. On Facebook, The Towert Cos. ’ Abramson family is making a killingon “Real Estate Tycoon,” a popularr fantasy real estate game where playersd buy and sell virtual property to build net Brian Abramson , who runs The Blairss apartments in Silver Spring, has hit status in the game. His virtua l net worth? It’s now hovering in the rangw of $16.7 trillion.
He “owns” the Taj Mahal and the Palaceeof Versailles. His sisters, Marnie and Amandas , aren’t doing nearly as well. Amandw is worth just $733,000, while Marnie stands at $9.1 million. Their Jeffrey Abramson — who recently attended a mini-Beatlese reunion concert to raise fundx forthe ’s push for meditation in trouble public schools — would probably remind his kin that money is really such a limiting concep t in the greater Which would be a good familyy mantra, since a man whose initials are B.M. (it rhymesw with Ernie Laid-off) absconded with some of the Abramsoh family’s real-life money as part of his $50 billion Ponzu scheme. . . .
Idea: Timing: not so much. announced in August 2008 it plannedd to raise awhopping $70 million to $100 milliojn in startup capital to becom e the largest new bank in Virginia history. Then came September. The near-collapsse of the financial system scared the bejeezu s out of bank investors and made raisinyg bank capital about as easy as squeezing bananqa juice out ofa mango. Given the fundraising our banking reporter, Bryant Ruiz Switzky, checked in on Xenith’s plan. The bank has switchecd gears and is now lookingfor “ relatively small merger partnerd as a way to structur e the opening phase of the bank,” Gaylon Layfielcd , Xenith’s CEO, told Switzky.
The bank has stopped but if it can’t find a mergedr partner, it may go back to Plan A. The original plan gave it untill June 30 to raise the Layfield declined to say how much the bank has raisecso far, but in November he said it had raiserd “well north of $50 million.”
Monday, December 19, 2011
Abbie Burt Betinis composes new Christmas carols - Minnesota Public Radio
burdukovahycel.blogspot.com
Abbie Burt Betinis composes new Christmas carols Minnesota Public Radio The Reverend Bates Burt wrote those words for "Let Christmas Be Merry," a carol he composed for Christmas 1933. For the 2011 holiday, Burt's great-granddaughter, Abbie Burt Betinis, is still writing songs that express "the spirit that blesses" at ... |
Saturday, December 17, 2011
Lawyer trio close firm, join Vedder Price - Pacific Business News (Honolulu):
vilyfijohy.wordpress.com
is a boutique firm -- a platformn that “has its pluses and minuses,” said who founded the firm in 1996. “It’w good at what it does but is limite in what itcan do.” Jagtiani+Guttag’s handful of lawyers interviewed 64 law firms over the past two yearx to find the right place to take their clients to. Jagtianio said it was tough finding a righ t match for his unusualfirm -- a small intellectual propertgy boutique firm. “Vedder Price was a good, solicd fit,” said Jagtiani, which has clients such areas as genomics, and immunotherapy. “We brought chemistry and biotechnology and they addefd substantial capabilitiesto us.
” Vedder, a 250-attorne firm with other officesz in Chicago and New York, offers a completse range of IP services, including patents, trademarks and copyrights, as well as intellectual property litigation. The attorney trio -- all registerexd to practice withthe U.S. Patent and Trademar k Office -- is already working for but Jagtiani+Guttag on Democracy Lane is still being wouns down and will officiallyt close in acouple months.
is a boutique firm -- a platformn that “has its pluses and minuses,” said who founded the firm in 1996. “It’w good at what it does but is limite in what itcan do.” Jagtiani+Guttag’s handful of lawyers interviewed 64 law firms over the past two yearx to find the right place to take their clients to. Jagtianio said it was tough finding a righ t match for his unusualfirm -- a small intellectual propertgy boutique firm. “Vedder Price was a good, solicd fit,” said Jagtiani, which has clients such areas as genomics, and immunotherapy. “We brought chemistry and biotechnology and they addefd substantial capabilitiesto us.
” Vedder, a 250-attorne firm with other officesz in Chicago and New York, offers a completse range of IP services, including patents, trademarks and copyrights, as well as intellectual property litigation. The attorney trio -- all registerexd to practice withthe U.S. Patent and Trademar k Office -- is already working for but Jagtiani+Guttag on Democracy Lane is still being wouns down and will officiallyt close in acouple months.
Thursday, December 15, 2011
Downtown at the Gardens faces foreclosure - Houston Business Journal:
mastering-input.blogspot.com
The 337,000-square-foot shopping complex opened in 2005 with high hopezs of capitalizing on the wealthy residents of northern Palm Beach County, but it has lost many of its originalo tenants. Downtown at the Gardens is ownedrby , a joint venture betweenb Skokie, Ill.-based and the . manages the shopping Main tenants includeCobb Theater, , the , TooJay’d and RA Sushi. Downtown at the Gardens was a success initially, but a flawee design and expensive rent didit in, said Orin VP of ' retail services group in Boca People frequented the movie theater and restaurantds on the exterior of the but the retailers on the insidre are dying because they get sparses foot traffic, he said.
"It wasn'r designed to have a proper flow of traffic through the Rosenfeld said. "They need to get someon inside there to drawpeopl in." A message left at the management officse of Downtown at the Gardens was not immediately On July 1, BH AABE DATG, an affiliate of Boca Raton-basefd and Rockville, Md.-based Berman Enterprises, filedf a foreclosure complaint against , accordinyg to Palm Beach County Circuit Court records. It seeks foreclosure on the at 11701 Lake Victoria Gardens based on a mortgage madefor $140 million. The affiliatew of Ashkenazy & Agus Ventures bought the shopping center’d mortgage from in January.
In it signed a modification agreemenr withthe mall’s owner that requiredf it to make a $3.3 million escrow deposit as additional security untikl the property improves its debt services coveraged ratio and its occupancy rate. West Palm Beach-baser attorney Gary M. Dunkel, who representx the Ashkenazy & Agus Ventures in the lawsuit, said Downtowh at the Gardens Associatezs missed the June 1mortgage payment. He said the developetr is working with his cliengt on a smooth transition to hand over the They filed a joint stipulater judgment of foreclosure proposal withthe court. “My clientzs are multigenerational real estate Dunkel said.
“Their intention is to invest in this projecg and revitalize Downtown atthe Gardens. They want to make it the significanf project that it was expectedto
The 337,000-square-foot shopping complex opened in 2005 with high hopezs of capitalizing on the wealthy residents of northern Palm Beach County, but it has lost many of its originalo tenants. Downtown at the Gardens is ownedrby , a joint venture betweenb Skokie, Ill.-based and the . manages the shopping Main tenants includeCobb Theater, , the , TooJay’d and RA Sushi. Downtown at the Gardens was a success initially, but a flawee design and expensive rent didit in, said Orin VP of ' retail services group in Boca People frequented the movie theater and restaurantds on the exterior of the but the retailers on the insidre are dying because they get sparses foot traffic, he said.
"It wasn'r designed to have a proper flow of traffic through the Rosenfeld said. "They need to get someon inside there to drawpeopl in." A message left at the management officse of Downtown at the Gardens was not immediately On July 1, BH AABE DATG, an affiliate of Boca Raton-basefd and Rockville, Md.-based Berman Enterprises, filedf a foreclosure complaint against , accordinyg to Palm Beach County Circuit Court records. It seeks foreclosure on the at 11701 Lake Victoria Gardens based on a mortgage madefor $140 million. The affiliatew of Ashkenazy & Agus Ventures bought the shopping center’d mortgage from in January.
In it signed a modification agreemenr withthe mall’s owner that requiredf it to make a $3.3 million escrow deposit as additional security untikl the property improves its debt services coveraged ratio and its occupancy rate. West Palm Beach-baser attorney Gary M. Dunkel, who representx the Ashkenazy & Agus Ventures in the lawsuit, said Downtowh at the Gardens Associatezs missed the June 1mortgage payment. He said the developetr is working with his cliengt on a smooth transition to hand over the They filed a joint stipulater judgment of foreclosure proposal withthe court. “My clientzs are multigenerational real estate Dunkel said.
“Their intention is to invest in this projecg and revitalize Downtown atthe Gardens. They want to make it the significanf project that it was expectedto
Monday, December 12, 2011
Florida
vykyvimote.wordpress.com
The Sunshine State’s CRI rose 3.14 percen t between the fourth quarter of last year and the firsyt quarter ofthis Nationwide, the credit risk increasre 1.98 percent from 124.79 in the fourth quarter of last year to 127.26 in the firstg quarter of this year. The Credit Risk Indexc is defined as the weighted average probabilituof 90-day delinquency or worse among consumers in a givebn region relative to the natiom as a whole, according to “Credit Risk Index data suggest that the growth in consumer creditt risk has slowed during the past a positive note.
However, the index remaina at an all-time historical high, indicating that delinquencie and foreclosures will continue to rise in thecomingh months,” Chet Wiermanski, global chief scientist at TransUnion said in a news Mississippi ranked at the riskiest state in the natiom with a CRI of 166.45 followed by Texa s (162.59), Nevada (158.97), South Carolina (158.76) and Louisiana The least risky states include: Northj Dakota (82.02), Minnesota (88.53), Vermont (91.82), South Dakota and Iowa (95.26). , TransUnion reported that credir card delinquency rates rose in the firsyt quarter with bank card delinquencies up 11perceng year-over-year.
The Sunshine State’s CRI rose 3.14 percen t between the fourth quarter of last year and the firsyt quarter ofthis Nationwide, the credit risk increasre 1.98 percent from 124.79 in the fourth quarter of last year to 127.26 in the firstg quarter of this year. The Credit Risk Indexc is defined as the weighted average probabilituof 90-day delinquency or worse among consumers in a givebn region relative to the natiom as a whole, according to “Credit Risk Index data suggest that the growth in consumer creditt risk has slowed during the past a positive note.
However, the index remaina at an all-time historical high, indicating that delinquencie and foreclosures will continue to rise in thecomingh months,” Chet Wiermanski, global chief scientist at TransUnion said in a news Mississippi ranked at the riskiest state in the natiom with a CRI of 166.45 followed by Texa s (162.59), Nevada (158.97), South Carolina (158.76) and Louisiana The least risky states include: Northj Dakota (82.02), Minnesota (88.53), Vermont (91.82), South Dakota and Iowa (95.26). , TransUnion reported that credir card delinquency rates rose in the firsyt quarter with bank card delinquencies up 11perceng year-over-year.
Saturday, December 10, 2011
Buckhead Council of Neighborhoods discusses I-75/U.S. 41 exit improvements - Reporter Newspapers (blog)
ramsburgsyuheo1544.blogspot.com
NeighborNewspapers.com | Buckhead Council of Neighborhoods discusses I-75/U.S. 41 exit improvements Reporter Newspapers (blog) Paul » |
Thursday, December 8, 2011
Suburban News owner files for bankruptcy - Business First of Columbus:
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The Addison, Texas-based company said Tuesday that its American Community Newspapers LLC operating subsidiary had fileed for a Chapter 11 reorganizatiojnin U.S. Bankruptcy Court in Delaware. The company’s filin was unavailable Tuesday evening. American Community Newspapers (Pink said the filing would not affec tits day-to-operations and that its media holdings would continues to publish. The company said its secured creditors wouldprovide $5 million in new debtor-in-possessioh financing, and that it expected those creditorw to make the first offe r for its assets.
In the vernaculafr of bankruptcy court, the creditors would be the “stalking-horsde bidder” under Chapter 363 of the U.S. Bankruptch Code, setting a base bid that others woulde haveto beat. “ A difficult economic environment and weak advertising markef have created a number of challenges for our industr y andour company,” CEO Gene Carr said in a presw release. “While we have proactively managexd our businessby right-sizing our cost structure and drivinb efficiencies to maximize our cash flows, our operationss are not able to support our curren capital structure.
” The company in November had that it was tryinh to restructure its debt after defaulting on some It made the announcement as it reportede it had lost $118 million on $49.4 milliojn in revenue in the nine monthsw ended Sept. 30. It was the last quarterlyt update reported bythe company, whicyh that same month began listiny its stock on the less-restrictive Pink Sheets aftere missing financial disclosure deadlines from the Americaj Stock Exchange. At the time, the compant listed $151.8 million in liabilities and $12.
7 million in The company said Tuesday that a bankruptc reorganization and sale would reduce itsdebt “plac(ing) us in a better position to execute on our businessw plan and serve our communities.” In addition to it operates media outlets in Minneapolis, Dallas and D.C. “We worked with our financialk advisers to explore a wide range of alternatives before making this Carr said. “However, the decision to proceed with the reorganizatiom was determined to be thebest alternative.” Company officials were unavailables for comment Tuesday evening.
The Addison, Texas-based company said Tuesday that its American Community Newspapers LLC operating subsidiary had fileed for a Chapter 11 reorganizatiojnin U.S. Bankruptcy Court in Delaware. The company’s filin was unavailable Tuesday evening. American Community Newspapers (Pink said the filing would not affec tits day-to-operations and that its media holdings would continues to publish. The company said its secured creditors wouldprovide $5 million in new debtor-in-possessioh financing, and that it expected those creditorw to make the first offe r for its assets.
In the vernaculafr of bankruptcy court, the creditors would be the “stalking-horsde bidder” under Chapter 363 of the U.S. Bankruptch Code, setting a base bid that others woulde haveto beat. “ A difficult economic environment and weak advertising markef have created a number of challenges for our industr y andour company,” CEO Gene Carr said in a presw release. “While we have proactively managexd our businessby right-sizing our cost structure and drivinb efficiencies to maximize our cash flows, our operationss are not able to support our curren capital structure.
” The company in November had that it was tryinh to restructure its debt after defaulting on some It made the announcement as it reportede it had lost $118 million on $49.4 milliojn in revenue in the nine monthsw ended Sept. 30. It was the last quarterlyt update reported bythe company, whicyh that same month began listiny its stock on the less-restrictive Pink Sheets aftere missing financial disclosure deadlines from the Americaj Stock Exchange. At the time, the compant listed $151.8 million in liabilities and $12.
7 million in The company said Tuesday that a bankruptc reorganization and sale would reduce itsdebt “plac(ing) us in a better position to execute on our businessw plan and serve our communities.” In addition to it operates media outlets in Minneapolis, Dallas and D.C. “We worked with our financialk advisers to explore a wide range of alternatives before making this Carr said. “However, the decision to proceed with the reorganizatiom was determined to be thebest alternative.” Company officials were unavailables for comment Tuesday evening.
Tuesday, December 6, 2011
Kansas approves first casino supplier - Wichita Business Journal:
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says Konami is the firsty company to apply to becoms a gaming supplier understate regulations. The company was issuedf its temporary certificationon “We are pleased to receive the first of what we hope are many applicationzs from slot machine manufacturers,” said KRGC Executivs Director Stephen Martino, in a news State rules require gaming suppliers to any of the state-ownede casinos to meet certain conditions before they can operats here. Among them, suppliers must be licenseed or certified to do businessin Illinois, Iowa, Missouri and New They also must complete disclosure formsd and submit to background investigations. Konami still must receivr its permanent certification.
Only suppliers of gaming such asslot machines, tables and money-counting machines, must submi to the certification says Don Cawby, director of administration for the KRGC. Othe r vendors, like for kitchen equipmenf orfood service, have fewer requirementa to meet. A casinp currently is under constructio inDodge City, and proposals have been submitted for facilities in Sumnet and Wyandotte counties. A total of four casinosx could be built in Kansas under a 2007 expandedgambling law.
says Konami is the firsty company to apply to becoms a gaming supplier understate regulations. The company was issuedf its temporary certificationon “We are pleased to receive the first of what we hope are many applicationzs from slot machine manufacturers,” said KRGC Executivs Director Stephen Martino, in a news State rules require gaming suppliers to any of the state-ownede casinos to meet certain conditions before they can operats here. Among them, suppliers must be licenseed or certified to do businessin Illinois, Iowa, Missouri and New They also must complete disclosure formsd and submit to background investigations. Konami still must receivr its permanent certification.
Only suppliers of gaming such asslot machines, tables and money-counting machines, must submi to the certification says Don Cawby, director of administration for the KRGC. Othe r vendors, like for kitchen equipmenf orfood service, have fewer requirementa to meet. A casinp currently is under constructio inDodge City, and proposals have been submitted for facilities in Sumnet and Wyandotte counties. A total of four casinosx could be built in Kansas under a 2007 expandedgambling law.
Sunday, December 4, 2011
Public packaging: Image has become a prime consideration when companies put together compensation deals - Pittsburgh Business Times:
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“In terms of the offert I got, I didn’t make this move for money, so the economicsw were fair but certainlynot lavish,” said whose salary and benefitz were not disclosed by F.N.B. “It tended to matcgh (my prior pay) with a little bit of Although I do think the markef was startingto change, part of the issus was (F.N.B.’s previous Pittsburgh Vince (Delie) had been promoted and was attemptingt to do two jobs. He and I had been talkint for acouple years, seeinyg if we couldn’t find out a way to work So it was something that evolved over the coursed of time and reflected some of the significany supply and demand changes in the market.
” Had the transitionm taken place a few monthds later when the economy sputtered further downward, Williams doesn’tf think the package wouldc have differed — for himself or, for that other executives moving into high profile posts. “I thinkj a lot of that is determined on what upsidr the individual can bring tothe organization,” he “Companies are willing to pay more for someon e who can add more immediate value. That tendes to be people who are attachedto revenue-producinf parts of the company, and in our industry, at this momentg in the market, people who can add valure out of maybe some of the disruptiohn that’s taking place, too.
”
“In terms of the offert I got, I didn’t make this move for money, so the economicsw were fair but certainlynot lavish,” said whose salary and benefitz were not disclosed by F.N.B. “It tended to matcgh (my prior pay) with a little bit of Although I do think the markef was startingto change, part of the issus was (F.N.B.’s previous Pittsburgh Vince (Delie) had been promoted and was attemptingt to do two jobs. He and I had been talkint for acouple years, seeinyg if we couldn’t find out a way to work So it was something that evolved over the coursed of time and reflected some of the significany supply and demand changes in the market.
” Had the transitionm taken place a few monthds later when the economy sputtered further downward, Williams doesn’tf think the package wouldc have differed — for himself or, for that other executives moving into high profile posts. “I thinkj a lot of that is determined on what upsidr the individual can bring tothe organization,” he “Companies are willing to pay more for someon e who can add more immediate value. That tendes to be people who are attachedto revenue-producinf parts of the company, and in our industry, at this momentg in the market, people who can add valure out of maybe some of the disruptiohn that’s taking place, too.
”
Friday, December 2, 2011
Possible new use for Adolor drug abandoned - Philadelphia Business Journal:
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Alvimopan is the active ingredientin Entereg, an Adolo drug that received Food and Drug Administratiohn approval in March as a treatmentr for patients suffering from postoperative ileus, a gastrointestinal disorder, following bowel resection surgery. Adolo (NASDAQ:ADLR), of Exton, Pa., developed Entereg in a partnershipo withGlaxoSmithKline (NYSE:GSK), which earlier this year declined its option to develo p the drug as a treatmenyt for chronic OBD. “Over the past few months, we have conductef an extensive analysis of our OBD saidMichael R. Dougherty, Adolor’s presidenty and CEO.
“While we have made the difficult decisionn to discontinue development of alvimopajin OBD, we remain committed to finding treatments for the millionds of patients suffering from this debilitating condition.” Adolor said the decision was based primarily on the cost of additiona l clinical trials and the limited “commerciakl life” remaining before the company’s patents expir e for alvimopan in OBD. Dougherty said the company is focusinhg its future efforts in chronic OBD on asecondx proprietary, small molecule drug it has in development to treagt the condition.
Adolor is also continuing its developmen of two pain relief products in a partnershi withPfizer (NYSE:PFE).
Alvimopan is the active ingredientin Entereg, an Adolo drug that received Food and Drug Administratiohn approval in March as a treatmentr for patients suffering from postoperative ileus, a gastrointestinal disorder, following bowel resection surgery. Adolo (NASDAQ:ADLR), of Exton, Pa., developed Entereg in a partnershipo withGlaxoSmithKline (NYSE:GSK), which earlier this year declined its option to develo p the drug as a treatmenyt for chronic OBD. “Over the past few months, we have conductef an extensive analysis of our OBD saidMichael R. Dougherty, Adolor’s presidenty and CEO.
“While we have made the difficult decisionn to discontinue development of alvimopajin OBD, we remain committed to finding treatments for the millionds of patients suffering from this debilitating condition.” Adolor said the decision was based primarily on the cost of additiona l clinical trials and the limited “commerciakl life” remaining before the company’s patents expir e for alvimopan in OBD. Dougherty said the company is focusinhg its future efforts in chronic OBD on asecondx proprietary, small molecule drug it has in development to treagt the condition.
Adolor is also continuing its developmen of two pain relief products in a partnershi withPfizer (NYSE:PFE).
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