Peduto proposes creating stimulus oversight commission for Pittsburgh - Pittsburgh Business Times:

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Called the Stimulus Oversight and Reinvestment in NewGrowtn (SOARING) Commission, the body woulr oversee the city’s stimulus tracker Web adopt a priority list of all city projects and evaluated and recommend projects to city council and the “Presently we find out which projects are beingb funded as a council when the allocations are beinvg made,” Peduto said today. Peduto said he envisions a five-membed body of citizen experts innew economy, technology, publid infrastructure and energy policy.
Each member of city council would make a recommendationm and the mayor would select five of the nine nominated to servee on the volunteer All this should happen befores the endof June, Peduto added, to compl y with the Recovery Act’s speedy deadlines for movintg money. “That’s my he said, but he noted he woulrd entertain a different strategy to get council and mayoral The stimulus oversight board would function likethe city’xs planning commission, which reviews proposed project s and gives recommendations to elected officialas who have the ultimate say, Peduto noted.
The city councilman will make an official announcement tomorrow morning and also will propose the idea during a speciao council hearing on Thursday at10 a.m. in city council’se chambers, where directors of city departments and authorities are schedules to speak abouttheier agencies’ stimulus priorities. “I’ve been thinkinhg about this ever since we called forthe hearing,” Peduto said. “It didn’yt seem like enough, becausde after that one meeting, then what The motion to form the commission will be formallg introduced atcity council’s regular meetingg on Tuesday.

Adolor cutting 45 jobs - Philadelphia Business Journal:

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The Exton, Pa., biopharmaceutical company said it is restructuring its discovery group to focus on preclinical compounds, and allocating fewer resources to early-stagr programs. Adolor (NASDAQ:ADLR) said its primary focus going forward will continuse to be on its firstcommercial product, Entereg, which was launchecd in mid-2008, and on advancint its clinical programs. Entereg is used to acceleratre the recovery of upper and lower gastrointestina function in patients following boweoresection surgery. “This was a very difficult decisiojn forthe company,” said Michaep R. Dougherty, Adolor’s president and CEO.
“Given the broader economic conditions in our it is necessary for us to preserve our resources for the commercializationj of Entereg and the development of our The company expects the moved to reduce its annualized cash burn byabout $12 Based on its revised operating the company expects to end 2009 with about $85 millionh in cash and investments.

La Madeleine chooses new HQ site in Dallas - Birmingham Business Journal:

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La Madeleine said it will relocateinto 17,000 squard feet at 12201 Merit Drives in Dallas. The building that will housd the restaurant chain is a Class A building that just recentlgunderwent renovation. Le Madeleine signee a 10-year lease with Parmenter Two Foresrt LP forthe space. La Madeleine said it was attracteds to the space because the facilitg provides the company with the room needed to grow withthe Dallas-based architectural firm Benson and Hlavatty will design the interior space. The facility is scheduledd to be ready for its new tenants in La Madeleine's current headquarters is at 6688 N. Central Exwy, Ste. 700 in Dallas.
La Madeleine was representeds byJosh White, senioe vice president with ; and Sharron Morrison, principa l with Transwestern. The landlord was represented by Matt vice presidentwith .

Regions Bank gets control of Treasure Island Tennis & Yacht Club - Minneapolis / St. Paul Business Journal:

http://thunderhawkaviation.com/golfing-in-mexico-can-mean-a-unique-eco-friendly-experience.html
Judge Caryl E. Delano of the ’s Middle District of Florida, approved a plan Wednesday that would turn over the Treasure Island Causewag clubto . Keys are expected to be turnedx over by the end of the day The changing of hands was part of a revise reorganization plan filed in Marchj by theTennis & Yacht Club following its Chapterf 11 bankruptcy. “The court’s ruling today provides a mechanisnm for a distinct bank subsidiary to take total ownershi of all club assets in a mannef thatis faster, less expensive and leastr intrusive to the operation” of the club, said John Anthonyy of , who represented Regions Bank in the bankruptcy, in a The takeover will allow Regionxs Bank to market the 17 waterfront acres to potential Anthony said.
When the Tennis & Yachy Club filed for bankruptcy, it reported assetds and liabilitiesbetween $1 million and $10 million. The club’es largest unsecured creditor last October was of Palmettokfor $13,502. However, the club owed Regions Bank as muchas $9.5 which owned the mortgage on the The club issued taxable variable rate demand bonds for $6 millionb through Regions Bank in Septembet 2005 to help finance construction on a new clubhouse, whicn was completed in early 2008. The club issued a second bond in Marchb 2006for $1 million and a thirsd in April 2007 for $1.
8 Regions Bank provided letters of credit for according to court The Tennis & Yacht Club paid its principapl on the debt in October but its efforts to have Regionss Bank restructure the loan were unsuccessful, forcing the club into bankruptcy. Employees at the club are expectedd to remain on the payroll during the and scheduledactivities — including this weekend’ds Fourth of July event will continue as planned, Anthony said.
The Tennis Yacht Club was founded in 1986 and as of its bankruptcyu filing had450 members, according to court

It's loud, bright ... and lots of fun at 'Extreme Makeover' building site - Fayetteville Observer

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It's loud, bright ... and lots of fun at 'Extreme Makeover' building site Fayetteville Observer Mother and daughter took lots of pictures throughout the day - Myra with her digital camera and Mary with her iPhone. They were having so much fun, the pair said, that they lost track of time. "We've been here all day - and then all of the sudden it's, ... and more »

HHGregg Inc. planning major expansion in region starting next year - Austin Business Journal:

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The Indianapolis-based company plans to open 40 to 45 new storex infiscal 2011, mainlyy in Baltimore, Washington, D.C., and Philadelphia. The retailer’s fiscalk 2011 runs from March 2010 toMarcn 2011. The expansion will be HHGregg’sa (NYSE: HGG) initial foray into the mid-Atlantix and will follow onetime electroniczs giantCircuit City’s exit from the market following The new stores are part of an aggressive growth strategy aimed at taking advantagre of cheap rental rates and excess real estatw capacity, President Dennis May said in a The company also plans to open a distributioh center in the mid-Atlantic region.
The average HHGregg stored is 30,000 square feet and employs 40 The company said it has begun to execute leasess on the future but a spokeswoman declined Wednesday to disclose any specific locationsa for the stores or thedistributionb center. HHGregg currently operates 111 storewsin Alabama, Florida, Georgia, Kentucky, North Carolina, Ohio, South Carolin and Tennessee. In fiscal year the company posted salesof $1.4 billionb and a profit of $36.4 million.

Rep puts Off-Ramp series on hiatus - St. Louis Business Journal:

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“In the current economic climate we have made the strategic decision to put this prograon hiatus,” the Rep wrotee in a letter to season ticketholders this week. “How long a break this will be wejust can’t predict righty now, but we will keep working to restore this seriess as soon as it makes financial The theater company said that the which was launched four seasons ago and held at in the city’sw Grand Center arts and entertainment needs to grow before it can becomwe self-sustaining. The company's other series are usually funded with 60 percenft from ticket sales and 40 percent from donors, but with Off-Ramlp it was reversed, said Brad L.
a spokesman for the Rep. "None of us hope it’as a permanent thing," he "We're not having a wake. It's not We are all going to work very hard to getit It's not yet clear how many full-timw and seasonal workers would be affected by the hiatus, Graham said. In the 2005-'07 season, the Rep added the Off-Ramp series, whic showcased newer and edgier worke that included brief nudity andoccasiona profanity, both of whichn are rare in the Rep’ws Mainstage series. The Off-Ramp series, which attracted a widef demographic forits audience, included two productions this season, “The Lieutenanrt of Inishmore” and “The Little Dog Laughed.
” The Rep’s Mainstagwe series comprises six productions, performed from Septembed through April, on the Virginia Jackson Browning Mainstagr in the Loretto-Hilton Cente on the campus of .

New chef to spice up Sheraton Downtown - Phoenix Business Journal:

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The duo, who worked together at , will oversee food operation s ranging from banquets and receptions to room service andthe hotel'se restaurant. Belosic has spent more than 10 years as a including five with establishments that received the AAA Five Diamoned Award andother honors. Lamar served most recently as assistant director of food and beverage atThe Phoenician. DISH After just a few monthsxin business, Dish: A Food Experience has closesd its doors at the Shops at Gainey Village. This comex on the heels of anotherScottsdaler restaurant, Taneko Japanese Tavern, closiny at the Borgata. No word on what promptedd Dish's abrupt closure.
A lien notice was posted in the windosw of the eatery at Scottsdale and DoubletreeRancj roads. Derek Crabb openee the restaurantin March, targeting time-pressed consumers. It offered sit-down meals and a full-servic bar, while the adjacent market sold take-home meals and othetr items. Dish's Web site still was up this week, but the phon number was disconnected. GROWTjH POTENTIAL: , a Valley networking group for is adding a new twist toits strategy: a business program and incubation facility focusing on the development of emerginh products and services. Club E is in the R&D phase for eFactory, lookiny for a site to set it up.
The program will offerr seminars, training and coaching and special events. It also will servs as the central hub for Club E chapters in the EFactory will include office and work business services, phone and Internet access, and conferencew rooms. Office leases will start at $400 a according to the Web site, . Only 50 spots will be available.

Harford BRAC office park in jeopardy - The Business Journal of the Greater Triad Area:

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Rockville’s Opus East LLC, the developetr of a 2 million-square-foot businessw park at AberdeenProving Ground, has slashed its work force and stoppe taking on new projects in responsde to its financial problems. The company also has brought on an expertt to help it work out its debta and consider options including filing for Chapter 11 saidWinston Hewett, spokeswoman for parentg company Opus Corp. of Minnesota. In response to those issues, the Army’ s top brass at APG met with executives at Opus East to pull togethe a new development team forits 400-acrr Government and Technology Enterpriser business park.
The project, being built on governmenr land inside AberdeenProving Ground, is the largest privatde development for defense contractorz in Harford County. Aberdeen is preparing for an influxsof 8,200 military jobs being transferred to the base by September 2011 under a federal Base Realignmentt and Closure plan, known as BRAC. Several thousanfd support jobs from defense contractors also will be movingh tothe area, creating an expected demand for some 2 milliom square feet of privately built spac e at developments like Opus East’s GATE Just one building has been constructed at the development.
Militart base spokesman George Mercer said APG leaders are determinedx not to let the projectg fail and will do whatever they can to selec t a new developer to make sure the projectrmoves forward. As those discussionws take place, Opus East’se Hewett said executives are weighing whetherr the company or some of its subsidiarieas will need to file for bankruptcy Opus East has created subsidiaries to manage each of its including APG I and APG II for theAberdeen project, and Hewetf said it’s possible one or severalp of those entities might file for bankruptcy, leavintg Opus East intact. Harford County Economic Developmentt DirectorJames C.
Richardson said he is trouble by the situation given the years ofplanningt that’s gone into the base’s expansion and the economic benefits those projects couldr yield. Opus East, like many commercial real estatw developers acrossthe country, faces mountingg debts from the short-term construction loanx it took out to start its Hewett said. It has been unable to refinanc e many ofthose debts, totaling at leasft $80 million, because of the sour credit market. As a result of that slowdown, Opus East plans to lay off about 15 of its 31 employeesJune 15. That numbe is down from a staffg of about 100 employeeslast year, Hewett said.
“We haven’t finalized any plans; we are exploringg our options,” she added. This is the latest in a string of financial challenges forOpus Corp., a nationakl development firm with projects across the Opus East is one of five independently operatedr companies of Opus Corp., which has struggle d to refinance its projects. Opus South filesd for bankruptcy protectionin April. And in early May, a subsidiary of Opus West filed for bankruptcyg protection to avoid a foreclosure auctiohn ata mixed-use projecgt near Austin, Texas. A second Opus West subsidiary went into As withOpus East, Opus West also has brought on help to explores options including bankruptcy.
As recently as May, Opus Corp. officials considered Opus East viable because defenses contractors and government agencies drive much of the demancd for new commercial developments in Greater Despitethat optimism, Opus East has not signed any new tenants at its Aberdeen project sincw spring 2008, when it signed CACI to a full-building It broke ground on CACI’s 60,000-square-foof research and development building in May 2008 and completed work on the structurr in December 2008. Opus East also is involved in legakl battles over two other projects inGreatedr Baltimore. In Linthicum, Opus East is beinh sued in Anne Arundel Countyt Circuit Court by StraitSteel Inc.
over 3,00o tons of steel the Greencastle, Pa., firm providexd for Opus East’s West Quest C project. Opus East is building a 160,000-square-foot office on West Nursery Road for defenss contractor NorthropGrumman Corp.

Manpower: 6% of Honolulu employers to hire in 3Q - The Business Review (Albany):

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From July to September, 6 percent of the companie interviewed in the Honolulu metro area plan to hire more while 11 percent expectf to reducetheir payrolls, according to the survet from Milwaukee-based (NYSE: MAN). Seventy-eighyt percent expect to maintain their current staff level s and 5 percent remain uncertain aboutyhiring plans. Hiring is expected to be a littlr lighter than in thesecond quarter, when 10 percenyt of companies surveyed planned to hire and 12 percenft expected to cut payrolls, said Manpower spokeswoman Mary Lou For the coming quarter, job prospects in the Honolulhu area appear best in wholesale and retail trade and leisure and Employers in durable goods manufacturing, nondurable goods manufacturing, professional and business services, education and health services and governmenft intend to cut Hiring in construction, transportation and utilities, financial activities and othe r services is expected to remain unchanged.
National survey results showed little change from thesecond quarter. Of the more than 28,000p employers surveyed across the 15 percent expect to increase their staffc levels during the third while 13 percent expect to reducetheir Sixty-seven percent expect no change in hiring and 5 percent are undecidedr about their third-quarter hiring plans. “The data shows continued hesitancyamongv employers,” said Jonas Prising, president of the Americas for “They are treading slowly and watching with guarderd optimism, hoping a few quarters of stabilitty will be the precursoe to the recovery.
”

Unemployment rate falls in Allegheny, Beaver counties - Minneapolis / St. Paul Business Journal:

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and Industry released seasonally adjusted unemployment figures forthe state’d counties and metropolitan statistical areas on In Allegheny County, the unemployment rate fell from 6.6 percent in Marcyh to 6.5 percent in April. Beaver County’se went from 8.2 percengt in March to 7.9 percent in The improvements in Allegheny andBeaver counties, were not enough to boos the seven-county Pittsburgh MSA, which saw its seasonallyh adjusted unemployment rate increasde from 7.2 percent in March to 7.3 percent in Pennsylvania’s unemployment rate held steady at 7.8 percent.
When makingy comparisons, the Department of Labore and Industry uses seasonally adjusted figures in ordefr to account for cyclical hiringv differencesthat don’t reflectt changes in the overall economy. Employment in the seven-county Pittsburgh area continue to be stronger than manyothee areas. In addition to besting the state by half apercentagd point, unemployment in the Pittsburgh MSA is 1.6 percentagwe points lower than the Unitedx States as a whole, which has seasonally adjustef unemployment of 8.9 percent. Here is the breakdowjn across the state: State College: 5.7 percent Lebanon: 6.7 percent Altoona: 7.2 percentt Pittsburgh: 7.3 percent Philadelphia: 7.
9 percenft York-Hanover: 7.9 percent Allentown-Bethlehem-Easton: 8.3 perceng Erie: 8.4 percent Scranton-Wilkes-Barre: 8.6 percent Johnstown: 8.7 percentt Reading: 8.7 percent Within the Pittsburgh MSA, unemployment ranged from 6.5 percent in Alleghenyy County to 9.8 percent in Armstrong County. Here is the breakdown by Allegheny: 6.5 percent Butler: 7.3 perceng Washington: 7.6 percent Beaver: 7.9 percent Westmoreland: 8.1 percent Fayette: 8.9 percen Armstrong: 9.
8 percent

'Green' Price Chopper opening in Colonie - Dallas Business Journal:

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will set the standard for the chain’s futurew stores by incorporatingmany energy-saving and environmentalluy friendly technologies, the company said The 69,000-square-foot store at 1892 Central Ave. features a highlyt efficient refrigeration system, fuel cellsx generating about 60 perceny of its electricityand back-up power, lots of natural lighting, and a machine that grindsa produce waste into a watery The store also has the largest Kosher-onlyt department in a supermarket in northeastern New York and the only full-servics Kosher bakery in the Albany region, according to the , whicj owns the supermarket The new store was built at the opposite end of a strip mall in Colonie where another Price Chopper is The old store closede an hour before the new stores opened today.
The U.S. Environmenta l Protection Agency has already awarded the new stors the highest level of gold certification under the GreenChill AdvancedRefrigeratioj Partnership, the highest ever achieved by a supermarkef retailer. Three other stores in the country have gold level certificatiomn but Price Chopper has thehighest rating. The Golubv Corp. is seeking LEED certification from the in recognitiobn ofthe energy-saving measures. LEED stands for Leadershilp in Energy Efficient The New York State Energy Research Development Authorityu provided morethan $1 million in incentivesd to help make the new storew as ‘green’ as possible.
“We set out to design and build a storwe that wouldbe world-class and woulds demonstrate our leadership and concern for the environmen t and energy efficiency,” said Golub Corp., chairman and CEO Neil During construction of the more than 75 percent of the waste was recyclef and local construction materials were used whenever possible. Basex in Rotterdam, the Golub Corp. owns more than 120 stores in New York, Vermont, Connecticut, Massachusetts and New Hampshire.