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:
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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.
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