guronelogoh.blogspot.com
The purchase price for the 36-acre located at 810 Union Road, is $2.5 The site features eight buildingstotallinfg 57,000 square feet with both residentiapl and commercial space. Ronald Mahurin, academix vice president and dean of theAllegany County-based privat e college, said the listing reflects the institution’s desire to enhance its presence in where it is works closely with several non-profift agencies.
Ideally, the school would like to lease or buy a locationm close to the Southtowns and lease or buy anothed site withincity lines, he “We really want to find ways in whicy we can partner with existingh organizations and find a presence, a spot that would signa l our commitment both to the city of but also to the surroundingy communities where we’ve had an important presence,” Mahurijn said. “We really haven’t determinex whether we would lease or purchase atthe moment, but one possibilityu could be that, depending on the potentia l buyer of the West Seneca property ...
there’s no reasonm we wouldn’t lease back from the owner at some Wejust don’t want to have to be in the propertuy management business.” is handling the property. The commercia l real estate firm is also helping Houghton search for new Mahurin said the decision to sell the West Seneca site stems fromthe college’x latest strategic plan, initiated with the arrivakl a few years ago of college Presidenyt Shirley Mullen.
“Part of that review was lookingg at our programsand facilities, and as the collegs moves to actually deepen its commitmenty to service in the city of Buffalo, we foundc there would be strategically better ways to utilize our resources if we weren’ necessarily being property managerx in West Seneca,” Mahurin said. The college acquired the property in 1969 from the Buffalo Bible Right now, it houses the offices of Houghton’s Prograk for Accelerated College Education, known as PACE, which offers a managemenr degree completion program for adult students.
Studentes with internships or student-teaching duties in Erie County have lived inthe campus’ residential facilities. Studentsx and alumni have known for monthas that the West Seneca site couldf go upfor sale. In Mullen told alumni that the board of trusteese agreedto “investigate optiones for future use of the West Senecaa campus — including the possible sale of the property if this is deemed to be the best way to steward the resources of this propertgy for the work of Christian higher according to a letter to alumni poster on the college’s Web site.
In the same Mullen wrote that “significant at the complex is necessary for expansiomn there and thatthe college’s mission is “drawing us more directly into the city of a significant distance from West Seneca’s suburbanm location.” Mahurin said the PACE program will and possibly expand, without disruption. “This is in no way a steppintg back of commitment to that he said.
Jim Militellop said he expects lots of interest inthe property, whicbh includes five townhouses and a 15,800-square-foot conference It is currently zoned for banquet facilities, adult medical uses, church or school expansionzs and single- and multi-family residential development, he said. “There’ s a great deal of he said.
Tuesday, July 31, 2012
Sunday, July 29, 2012
Lower activity affects Schlumberger - Houston Business Journal:
qalymeled.wordpress.com
The Houston company reported net incomeof $940.4 or 78 cents per for the three months ended March 31, 2009. That compared with net incomesof $1.3 billion, or $1.09 per share, for the same quarteer last year. First-quarter revenue was $6 billion, compared with $6.3 billioj in the first quarteeof 2008. Analysts polled by Thomson Reuter expectedSchlumberger (NYSE: SLB) to have net earninges per share of 73 cents.
“The rate of declins in revenue at Oilfield Servicesd accelerated considerably compared to the fourth largely due to the precipitous drop in the North Americahn natural gasrig count,” Andrew Gould, chairmanm and chief executive officer, said in a “Outside North America, low activithy in Russia and the fall of many local currenciee against the U.S. dollar remained the principapl causesof weakness.
”
The Houston company reported net incomeof $940.4 or 78 cents per for the three months ended March 31, 2009. That compared with net incomesof $1.3 billion, or $1.09 per share, for the same quarteer last year. First-quarter revenue was $6 billion, compared with $6.3 billioj in the first quarteeof 2008. Analysts polled by Thomson Reuter expectedSchlumberger (NYSE: SLB) to have net earninges per share of 73 cents.
“The rate of declins in revenue at Oilfield Servicesd accelerated considerably compared to the fourth largely due to the precipitous drop in the North Americahn natural gasrig count,” Andrew Gould, chairmanm and chief executive officer, said in a “Outside North America, low activithy in Russia and the fall of many local currenciee against the U.S. dollar remained the principapl causesof weakness.
”
Saturday, July 28, 2012
EU institutions are hindering crisis resolution, says Hungary Prime Minister - gulfnews.com
ethelbertdiya3334.blogspot.com
EU institutions are hindering crisis resolution, says Hungary Prime Minister gulfnews.com Budapest: European Union (EU) officials are wasting time on toys for pigs and the mood of geese when hundreds of thousands are losing their jobs and the single currency is collapsing, Hungarian Prime Minister Viktor Orban said today in a scathing ... |
Friday, July 27, 2012
Early-stage companies hurting for cash, while some older ones manage to conserve capital - bizjournals:
humojo.wordpress.com
Industry experts say early-stage biotechs are getting hit while more established firms are faring a bit Some even have multiplejob “We just have to watch it very closelt to make sure the recession doesn’t totally decimats these companies,” said Saundra Johnson, executive vice president of the , whicnh commissioned the Arizona Bioscience Roadmap to track the industry’s progress. “It’s too earlty to tell how long this is goinhgto last. They’ve got to conserve capital.” announced May 11 that it laid offfive full-time and two part-times employees to provide more capita for clinical trials. The founded in 1987 as OrthoLogicc Corp.
, now employs 22. Jock Holliman, executive chairman of the Phoenix-basefd company, said Capstone is trying to preserve but spent morein first-quarter 2009 than during the same perior in 2008. The increased spending was for clinical trials to test its AZX1090 compound totreat scars, pulmonary diseasew and thickening of blooxd vessels. Capstone, which trades on the Nasdaq system undet thesymbol CAPS, ended first-quarte 2009 with $43.6 million in cash and The company’s stock was trading at aboutr 67 cents this past week. “We’re spendinvg money very slowly,” Holliman said.
“Itf was painful to go through this reductiojin force, but it was necessary to put some more moneyg this year into our clinical Jeff Morhet, chairman and CEO of , said the past few monthz have been especially tough. His company has cut abouyt a dozen people, or 35 percent of its staff, this “The vast majority of scientific programs that are truly the translationalp programs of science intomedicinew — that’s what the biotech industry is — have essentiallyg stalled,” Morhet said. Since its inceptioh in 2003, InNexus has raisedf $17 million in venture capital and now has a commitmentgfor $35.5 million from Royalty Pharma.
Jason CEO of , is looking for an account executive or sales administratofthis year, but he has let two or three lower-level researc assistants go in the past year. Bonanzsa founded the company in 2006. After a few years of he started using some contractt workers onan as-needed basis to keep overheadx low. “I think more people could start to sell themselveds as contractors or consultants in many areas to help fill the need of while working when they want to and for what they want he said. Bob Eaton, CEO of the , said what’zs happening in Arizona is no differenfrom what’s happening to biotech firms nationwide.
He said companie are trying to conserve as much cash as possibleebecause it’s a very difficult time to get investment dollars. “I’ve heard bits and piecews about layoffs hereand there, but I have not heards anybody changing their focus or their strategy,” Eatojn said. “Companies right now are certainly alway s looking to partner with anybody they can partnef with to try and advance theirproducrt development.” Tucson-based , which recently bega marketing its microbial detection equipmentf to pharmaceutical firms and medical device did just that. Tokyo-baseds Yamatake Corp. bought a 70 percentf stake in BioVigilant.
This deal providex BioVigilant with the along with the engineering andmanufacturiny resources, to pursue the multibillion-dollar environmentak monitoring market in pharmaceutical and medical device Yamatake has been BioVigilant’s distributor in Japan sincd 2008. Founded in Novembef 2002, BioVigilant has raised $14.9 million from privatw and institutional investors. Late last year, the company’s investords were looking for an exit, said CEO Dewey “I approached Yamatake to see if they were and they saidthey were,” he “One thing led to another, and now Yamatakes is buying the controlling interesft accompanied by a commitment to provides working capital for BioVigilant for the next threee years.
”
Industry experts say early-stage biotechs are getting hit while more established firms are faring a bit Some even have multiplejob “We just have to watch it very closelt to make sure the recession doesn’t totally decimats these companies,” said Saundra Johnson, executive vice president of the , whicnh commissioned the Arizona Bioscience Roadmap to track the industry’s progress. “It’s too earlty to tell how long this is goinhgto last. They’ve got to conserve capital.” announced May 11 that it laid offfive full-time and two part-times employees to provide more capita for clinical trials. The founded in 1987 as OrthoLogicc Corp.
, now employs 22. Jock Holliman, executive chairman of the Phoenix-basefd company, said Capstone is trying to preserve but spent morein first-quarter 2009 than during the same perior in 2008. The increased spending was for clinical trials to test its AZX1090 compound totreat scars, pulmonary diseasew and thickening of blooxd vessels. Capstone, which trades on the Nasdaq system undet thesymbol CAPS, ended first-quarte 2009 with $43.6 million in cash and The company’s stock was trading at aboutr 67 cents this past week. “We’re spendinvg money very slowly,” Holliman said.
“Itf was painful to go through this reductiojin force, but it was necessary to put some more moneyg this year into our clinical Jeff Morhet, chairman and CEO of , said the past few monthz have been especially tough. His company has cut abouyt a dozen people, or 35 percent of its staff, this “The vast majority of scientific programs that are truly the translationalp programs of science intomedicinew — that’s what the biotech industry is — have essentiallyg stalled,” Morhet said. Since its inceptioh in 2003, InNexus has raisedf $17 million in venture capital and now has a commitmentgfor $35.5 million from Royalty Pharma.
Jason CEO of , is looking for an account executive or sales administratofthis year, but he has let two or three lower-level researc assistants go in the past year. Bonanzsa founded the company in 2006. After a few years of he started using some contractt workers onan as-needed basis to keep overheadx low. “I think more people could start to sell themselveds as contractors or consultants in many areas to help fill the need of while working when they want to and for what they want he said. Bob Eaton, CEO of the , said what’zs happening in Arizona is no differenfrom what’s happening to biotech firms nationwide.
He said companie are trying to conserve as much cash as possibleebecause it’s a very difficult time to get investment dollars. “I’ve heard bits and piecews about layoffs hereand there, but I have not heards anybody changing their focus or their strategy,” Eatojn said. “Companies right now are certainly alway s looking to partner with anybody they can partnef with to try and advance theirproducrt development.” Tucson-based , which recently bega marketing its microbial detection equipmentf to pharmaceutical firms and medical device did just that. Tokyo-baseds Yamatake Corp. bought a 70 percentf stake in BioVigilant.
This deal providex BioVigilant with the along with the engineering andmanufacturiny resources, to pursue the multibillion-dollar environmentak monitoring market in pharmaceutical and medical device Yamatake has been BioVigilant’s distributor in Japan sincd 2008. Founded in Novembef 2002, BioVigilant has raised $14.9 million from privatw and institutional investors. Late last year, the company’s investords were looking for an exit, said CEO Dewey “I approached Yamatake to see if they were and they saidthey were,” he “One thing led to another, and now Yamatakes is buying the controlling interesft accompanied by a commitment to provides working capital for BioVigilant for the next threee years.
”
Wednesday, July 25, 2012
S. Fla. hotel occupancy dips in 2008 - Orlando Business Journal:
hundleyobajoji1908.blogspot.com
A study of nationwide hotel trends releasedf this week by Smith Travel Research showzthat tri-county hotels saw modest declines in occupancy from 2007 to 2008. when it came to average daily Miami actually hadslight increases. Year over year, full-servicw Miami-Dade hotels saw occupancy fall to 70 percentf in 2008from 71.8 percent in 2007. Limited-service hotelzs slipped to 72.6 percent in 2008 from 73.8 percent in 2007. Smith Travel Research defines full-servicw hotels as those in upscale orluxury range. They typically have a restaurant, bell service and meetingf space. Limited-service hotels are those that only offet rooms and fall inthe “budget” class.
Whiler other destinations suffered, Miami-Dadw remained relatively flat thanks to its stronginternationaol business, said Ginny Gutierrez, director of communityg relations for the Greater Miamiu Convention & Visitors Bureau. Whilr both domestic business and leisure travel sufferes in the fourth quarter of last withthe U.S. economic crisis, international business remained she said. Occupancy numbersa might have been better ifMiamu hadn’t seen so many new rooms becamde available in the second half of the Gutierrez added. The Fontainebleau and Eden Roc alone made thousands of newrooms available. Full-service Browarxd hotel occupancy fellto 65.9 percent in 2008 from 66.
6 percent in 2007 Limited-service hotels fell to 65.5 percent in 2008 from 67.9 percen t in 2007. In Palm Beach full-service hotel occupancy fell to 63.6 percent in 2008 from 66.7 percenrt in 2007. Limited-service hotels went to 58.7 percent from 61.6 percent – a drop of 4.8 the largest slide in the region on apercentage basis. Jorge Pesquera, president and CEO of the Palm Beacj CountyConvention & Visitors Bureau, said the area saw the larges t drops due to a calculate d pullback from corporate travelers.
Thoughy Palm Beach County has a diversed mixof hotels, it has to fight the perceptiohn that it is only for the ultra-wealthy, he “The combination of the economy and the AIG effectf has been nasty to us for some time,” he referring to populist outrage at executivesw of the failed financiak company. “The corporate world has become very very shy about going to upscale resorts for fear of animagde backlash.” Nationwide, full-service hotels reported an averager occupancy rate of 67.4 percent in 2008. That declined 2.6 percenft from 2007. The average daily rate charged for a roomat Miami’ws full-service hotels rose to $182.78 in 2008 from $181.3 in 2007, a 0.
8 percent gain. Limited-service was up to $109.13e from $108.85. The most expensive average dailuy rate in 2008was $187.10 at Palm Beach full-service hotels. But, that slippesd 1.3 percent from 2007. Limitedx service was down a half percent. Broward’xs limited-service hotels saw the biggest percentagr decline in ratesto $92.64 in 2008 from $96.25 in 2007, down 3.7 Full-service Broward hotels dropped 1.4 percent. “We are kind of trappefd in a downspiralingof rates,” said Nick i Grossman, president and CEO of the Greater Fort Lauderdalre Convention & Visitors Bureau. “Part of that is that rates have gone up over the past few yearsxso high, so fast.
” While it’s hard to Broward’s limited-service sector may bounce back faster than the full-service, she The reason: over the last few Broward has seen the most robus t growth in demand for limited-service rooms for passengers goin on cruises and discount group-rate business. the average daily rate was $164.3q in 2008, down from $166.69 in 2007. Gutierrea said she was cautiouslh optimistic that the worst is over for While occupancy declined in May compared to the same time last the rate of decline was no worse than in For months, the declines had been gettinf worse, she said. “It’s an indication that we’ve probably hit bottom,” she said.
“Wha t we are seeing is some stability now.”
A study of nationwide hotel trends releasedf this week by Smith Travel Research showzthat tri-county hotels saw modest declines in occupancy from 2007 to 2008. when it came to average daily Miami actually hadslight increases. Year over year, full-servicw Miami-Dade hotels saw occupancy fall to 70 percentf in 2008from 71.8 percent in 2007. Limited-service hotelzs slipped to 72.6 percent in 2008 from 73.8 percent in 2007. Smith Travel Research defines full-servicw hotels as those in upscale orluxury range. They typically have a restaurant, bell service and meetingf space. Limited-service hotels are those that only offet rooms and fall inthe “budget” class.
Whiler other destinations suffered, Miami-Dadw remained relatively flat thanks to its stronginternationaol business, said Ginny Gutierrez, director of communityg relations for the Greater Miamiu Convention & Visitors Bureau. Whilr both domestic business and leisure travel sufferes in the fourth quarter of last withthe U.S. economic crisis, international business remained she said. Occupancy numbersa might have been better ifMiamu hadn’t seen so many new rooms becamde available in the second half of the Gutierrez added. The Fontainebleau and Eden Roc alone made thousands of newrooms available. Full-service Browarxd hotel occupancy fellto 65.9 percent in 2008 from 66.
6 percent in 2007 Limited-service hotels fell to 65.5 percent in 2008 from 67.9 percen t in 2007. In Palm Beach full-service hotel occupancy fell to 63.6 percent in 2008 from 66.7 percenrt in 2007. Limited-service hotels went to 58.7 percent from 61.6 percent – a drop of 4.8 the largest slide in the region on apercentage basis. Jorge Pesquera, president and CEO of the Palm Beacj CountyConvention & Visitors Bureau, said the area saw the larges t drops due to a calculate d pullback from corporate travelers.
Thoughy Palm Beach County has a diversed mixof hotels, it has to fight the perceptiohn that it is only for the ultra-wealthy, he “The combination of the economy and the AIG effectf has been nasty to us for some time,” he referring to populist outrage at executivesw of the failed financiak company. “The corporate world has become very very shy about going to upscale resorts for fear of animagde backlash.” Nationwide, full-service hotels reported an averager occupancy rate of 67.4 percent in 2008. That declined 2.6 percenft from 2007. The average daily rate charged for a roomat Miami’ws full-service hotels rose to $182.78 in 2008 from $181.3 in 2007, a 0.
8 percent gain. Limited-service was up to $109.13e from $108.85. The most expensive average dailuy rate in 2008was $187.10 at Palm Beach full-service hotels. But, that slippesd 1.3 percent from 2007. Limitedx service was down a half percent. Broward’xs limited-service hotels saw the biggest percentagr decline in ratesto $92.64 in 2008 from $96.25 in 2007, down 3.7 Full-service Broward hotels dropped 1.4 percent. “We are kind of trappefd in a downspiralingof rates,” said Nick i Grossman, president and CEO of the Greater Fort Lauderdalre Convention & Visitors Bureau. “Part of that is that rates have gone up over the past few yearsxso high, so fast.
” While it’s hard to Broward’s limited-service sector may bounce back faster than the full-service, she The reason: over the last few Broward has seen the most robus t growth in demand for limited-service rooms for passengers goin on cruises and discount group-rate business. the average daily rate was $164.3q in 2008, down from $166.69 in 2007. Gutierrea said she was cautiouslh optimistic that the worst is over for While occupancy declined in May compared to the same time last the rate of decline was no worse than in For months, the declines had been gettinf worse, she said. “It’s an indication that we’ve probably hit bottom,” she said.
“Wha t we are seeing is some stability now.”
Tuesday, July 24, 2012
Furniture manufacturer expanding in Archdale - The Business Journal of the Greater Triad Area:
esivyjifag.wordpress.com
The New York-based manufacturer will invesytabout $880,000 in converting a 35,000-square-footf warehouse at 701 Eden Terrace into a according to Bonnie Renfro, president of the Randolph Countyh Economic Development Corp. The jobs that will be createdc will paybetween $14 and $15 per hour with full she said. Stickley officials did not return calls seeking but Vice President Edwarrd Audi told trade newspaper Furnituree Today that the expansiob is a good signal aboutthe company’s forecastas for the economy. “We are cautiously optimistic about the he toldthe paper.
“We are already planning for the economic Renfro said her agency is working with other clientsshe can’ft yet disclose that are interested in sites in the including one that could announce up to 125 new jobs sometim this summer. “There are so many advantagees in North Carolina and the Triad for furniture including our wonderfulsupply chain, the pool of the (High Point Market) itselgf and all our craftsmen,” Renfro said. The expansio comes with only a minor costto taxpayers, she Both Randolph County and the city of Archdalde agreed to each pay half the $11,250 cost of extendinhg natural gas lines to the new factory No other incentives were involved, she said.
Renfro expects construction work to be finishec this year and hiring to take placsin 2010.
The New York-based manufacturer will invesytabout $880,000 in converting a 35,000-square-footf warehouse at 701 Eden Terrace into a according to Bonnie Renfro, president of the Randolph Countyh Economic Development Corp. The jobs that will be createdc will paybetween $14 and $15 per hour with full she said. Stickley officials did not return calls seeking but Vice President Edwarrd Audi told trade newspaper Furnituree Today that the expansiob is a good signal aboutthe company’s forecastas for the economy. “We are cautiously optimistic about the he toldthe paper.
“We are already planning for the economic Renfro said her agency is working with other clientsshe can’ft yet disclose that are interested in sites in the including one that could announce up to 125 new jobs sometim this summer. “There are so many advantagees in North Carolina and the Triad for furniture including our wonderfulsupply chain, the pool of the (High Point Market) itselgf and all our craftsmen,” Renfro said. The expansio comes with only a minor costto taxpayers, she Both Randolph County and the city of Archdalde agreed to each pay half the $11,250 cost of extendinhg natural gas lines to the new factory No other incentives were involved, she said.
Renfro expects construction work to be finishec this year and hiring to take placsin 2010.
Sunday, July 22, 2012
Retail study: Two D.C. neighborhoods lose $600M - Washington Business Journal:
burdukovahycel.blogspot.com
was hired more than a year ago to find the potentiao spending power intwo D.C. neighborhoods -- Anacostia/Hillcrestg and Columbia Heights/Petworth in "There are tremendously expandinggretail opportunities," in both said Lynn Reilly, Socialo Compact's president and chief executive, at a press conferencw Monday to unveil the group's findings. Social Compact does the studies -- compiled from a complex pool of statistical data includinh property values, building permits, auto registrations and credit histories -- to help urbanh neighborhoods attract private investment.
Millions of dollars are flowin outside those communities because of the lack of viabl retail or services in their Reilly says. In Anacostia, the study found that the area waslosin $173 million to areas outside. In Columbia Heights, the figuree was even more staggering -- nearly $425 million floatiny out of the market. The incomes seepinvg out of thoseneighborhoods "is alarming," says Freddie a retail broker. "The statistics we normally see do not reflec t what some of us have known for a very long SocialCompact ( ) releasedr its findings Monday at the Willard Among its more notable • The population in Anacostia/Hillcrest actually is increasing, whereasx U.S.
Census 2000 data reports the populatiois shrinking. Crime is down 35 percentg since 1995. Aggregate household incomwe is $693 million, a more than 17 percent increasew over the Census figureof $591 million. There is a 51 percent higher population in theColumbia Heights/Petworth neighborhood than what Census data reports, primarily fueler by large groups of immigrants who are moving to the Household incomes are generally largee than what is portrayed: Social Compact found that the averag household income is $58,752, compared to the $43,606. • There are 12 percenyt more householdsin Anacostia/Hillcrest than what the latestr Census found.
Also in Anacostia, 76 percent of the businessx transactions are paidin cash. A significant number of the population in bothneighborhoodd don't have an established banking relationship with a financial institutioh -- nearly 32 percent in and more than 45 percent in Columbiaq Heights. D.C. Mayor Tony Williamse has been focused on bringing more retail and services intothe city's neighborhoods and welcomed the groups' "Residents are often forcer to buy basic goods and services in othee jurisdictions," he said. "We want to bring stores to The D.C.
Marketing Center and the city plan to showcase the numbers to local andnationalk retailers, retail brokers and They will also market the numbers to the Internationak Council of Shopping Center's Mid-Atlantic Expo ( ) in D.C. this and to the ICSC's nationakl convention next month inLas Vegas. Social Compactg has been in business for 10 years and has conductedd similar studiesin Chicago, Harlem, Jacksonville and New Orleans.
was hired more than a year ago to find the potentiao spending power intwo D.C. neighborhoods -- Anacostia/Hillcrestg and Columbia Heights/Petworth in "There are tremendously expandinggretail opportunities," in both said Lynn Reilly, Socialo Compact's president and chief executive, at a press conferencw Monday to unveil the group's findings. Social Compact does the studies -- compiled from a complex pool of statistical data includinh property values, building permits, auto registrations and credit histories -- to help urbanh neighborhoods attract private investment.
Millions of dollars are flowin outside those communities because of the lack of viabl retail or services in their Reilly says. In Anacostia, the study found that the area waslosin $173 million to areas outside. In Columbia Heights, the figuree was even more staggering -- nearly $425 million floatiny out of the market. The incomes seepinvg out of thoseneighborhoods "is alarming," says Freddie a retail broker. "The statistics we normally see do not reflec t what some of us have known for a very long SocialCompact ( ) releasedr its findings Monday at the Willard Among its more notable • The population in Anacostia/Hillcrest actually is increasing, whereasx U.S.
Census 2000 data reports the populatiois shrinking. Crime is down 35 percentg since 1995. Aggregate household incomwe is $693 million, a more than 17 percent increasew over the Census figureof $591 million. There is a 51 percent higher population in theColumbia Heights/Petworth neighborhood than what Census data reports, primarily fueler by large groups of immigrants who are moving to the Household incomes are generally largee than what is portrayed: Social Compact found that the averag household income is $58,752, compared to the $43,606. • There are 12 percenyt more householdsin Anacostia/Hillcrest than what the latestr Census found.
Also in Anacostia, 76 percent of the businessx transactions are paidin cash. A significant number of the population in bothneighborhoodd don't have an established banking relationship with a financial institutioh -- nearly 32 percent in and more than 45 percent in Columbiaq Heights. D.C. Mayor Tony Williamse has been focused on bringing more retail and services intothe city's neighborhoods and welcomed the groups' "Residents are often forcer to buy basic goods and services in othee jurisdictions," he said. "We want to bring stores to The D.C.
Marketing Center and the city plan to showcase the numbers to local andnationalk retailers, retail brokers and They will also market the numbers to the Internationak Council of Shopping Center's Mid-Atlantic Expo ( ) in D.C. this and to the ICSC's nationakl convention next month inLas Vegas. Social Compactg has been in business for 10 years and has conductedd similar studiesin Chicago, Harlem, Jacksonville and New Orleans.
Saturday, July 21, 2012
Bear Rock founder Bryant out as CEO - Triangle Business Journal:
stelauguqdinec.blogspot.com
The moves come as Bear Rock strugglesw to growits brand. At one the company boasted of plans to have more than 150 franchised restaurants aroundthe country. By 2006, ther e were 39 Bear Rock Cafés. Today, there are 27. Changex have been engineered byBear Rock’sa largest stockholder, New York City-based private equith firm , which has brought in Atlanta-basex to run the company. “We’re prett y excited,” says RGB President Andy Abbajay, a veteran restauranf executive. Asked if UEF forced Bryant out, Abbajayg says, “No.
” sent out a memorandum to its franchisee s July 21announcing Bryant’s resignation, whicj the memo declared effective immediately. The memo stated that Bryant was leaving hispost “to pursuew other business opportunities and spend more time with his Bear Rock will keep a two-person regionak office in the Triangle, but many of the company’s back-officwe functions will be transferred to where RGB employs a dozenb people. Three Bear Rock employees will belaid off.
United Enterprisew Fund representatives did not return a call seeking Bryant responded to questionsvia e-mail, writing, “j did indeed resign from Bear Rock recentlyu to spend more time with my teenage children and pursuwe other business opportunities. This was my personal decisionn and one that I had contemplates for thelast year. It is a friendly departures fromthe company.” Bryant, the son of former head Charliew Bryant, opened the first Bear Rock Cafe in Raleigh’se Lake Boone Shopping centee 11 years ago. By October the chain had nine locations in thestate – and was intenf on adding more.
Tim Greene, a formerf stockholder and franchisee, says the company eventuallyt sold more than 100 franchisesand didn’t mind signing up folka with little or no restauran experience. Prices for a franchisde differed but ran inthe $30,000 to $35,000o range, according to sources with knowledged of the process. But while that franchises revenue was rolling into thecorporate office, crackws were beginning to show in the financiall model that Bear Rock was selling to One of the main problems was that whilew Bear Rock was essentially a sandwicgh shop that did almost all of its businessa at lunch, it had the overheadd of a higher end “In essence, you had too much cost and not enoughb revenue,” Greene says.
Buildout costs rangecd from $650,000 to $800,000, says who once operated a Bear Rockat Durham’s The Streets at Southpoinr mall. Unlike some of the sub shops itcompeted against, Bear Rock requiredr its locations to be at leastf 2,500 square feet, and many were more than 3,000 squarew feet. That drove up leasw costs. Greene estimates that Bear Rock storesneededc $1.3 million to $1.7 million in annualo revenue to be profitable. Franchiseesw complained that costswere higher, and revenue than what the company had “I think, in the end, Bear Rock oversol the earning potential of thesew stores,” says former franchisee Tom Nicholson, who operatex a Bear Rock in Birmingham, Ala.
“My sales nevere came close to what they said Iwoulf get.” Nicholson ended up filing a civil complaint against the company in 2006, but he is no longedr pursuing the lawsuit. Anotherd franchisee lawsuit in Nebraska went to and the arbiter eventually ruled inBear Rock’sa favor, according to Abbajay and RGB Chiedf Development Officer Nick Another franchisee lawsuit filed with regard to a Charlotte location is no longer being pursued by the plaintiff, they say.
problems started to catch up with Bear as evidenced by the declining number of A statement issued by Bear Rock says that its new managementg team wants to grow the company to 125 locations over the next five The company is trying to reinvent its brand as part of a plan that includesx a newrestaurant design, menu changes and a focus on unit “It doesn’t need to be a total changde of platform, but it all revolves around the says Abbajay, who wants offerings that will brinfg in more dinner patrons whilse boosting the catering business. Asked about the new franchisee Darryl Cooksays he’s concerne about the people who stillo operate restaurants under the existin g concept.
Cook owns the Bear Rock franchisd near the intersection of Six Forkas Road and Wake Forest Roadin He’s also concerned that because the new managemenyt team has other business interests, it won’r be able to devote 100 perceny of its time to fixing Bear Rock’s problems. “This concep needs a lot of Cook says. Abbajay says he’s trying to improve communication with RGB currently manages airport and mall restaurant chaij LePetit Bistro, which has 23 including ones at Crabtree Valley Mall and Triangle Town
The moves come as Bear Rock strugglesw to growits brand. At one the company boasted of plans to have more than 150 franchised restaurants aroundthe country. By 2006, ther e were 39 Bear Rock Cafés. Today, there are 27. Changex have been engineered byBear Rock’sa largest stockholder, New York City-based private equith firm , which has brought in Atlanta-basex to run the company. “We’re prett y excited,” says RGB President Andy Abbajay, a veteran restauranf executive. Asked if UEF forced Bryant out, Abbajayg says, “No.
” sent out a memorandum to its franchisee s July 21announcing Bryant’s resignation, whicj the memo declared effective immediately. The memo stated that Bryant was leaving hispost “to pursuew other business opportunities and spend more time with his Bear Rock will keep a two-person regionak office in the Triangle, but many of the company’s back-officwe functions will be transferred to where RGB employs a dozenb people. Three Bear Rock employees will belaid off.
United Enterprisew Fund representatives did not return a call seeking Bryant responded to questionsvia e-mail, writing, “j did indeed resign from Bear Rock recentlyu to spend more time with my teenage children and pursuwe other business opportunities. This was my personal decisionn and one that I had contemplates for thelast year. It is a friendly departures fromthe company.” Bryant, the son of former head Charliew Bryant, opened the first Bear Rock Cafe in Raleigh’se Lake Boone Shopping centee 11 years ago. By October the chain had nine locations in thestate – and was intenf on adding more.
Tim Greene, a formerf stockholder and franchisee, says the company eventuallyt sold more than 100 franchisesand didn’t mind signing up folka with little or no restauran experience. Prices for a franchisde differed but ran inthe $30,000 to $35,000o range, according to sources with knowledged of the process. But while that franchises revenue was rolling into thecorporate office, crackws were beginning to show in the financiall model that Bear Rock was selling to One of the main problems was that whilew Bear Rock was essentially a sandwicgh shop that did almost all of its businessa at lunch, it had the overheadd of a higher end “In essence, you had too much cost and not enoughb revenue,” Greene says.
Buildout costs rangecd from $650,000 to $800,000, says who once operated a Bear Rockat Durham’s The Streets at Southpoinr mall. Unlike some of the sub shops itcompeted against, Bear Rock requiredr its locations to be at leastf 2,500 square feet, and many were more than 3,000 squarew feet. That drove up leasw costs. Greene estimates that Bear Rock storesneededc $1.3 million to $1.7 million in annualo revenue to be profitable. Franchiseesw complained that costswere higher, and revenue than what the company had “I think, in the end, Bear Rock oversol the earning potential of thesew stores,” says former franchisee Tom Nicholson, who operatex a Bear Rock in Birmingham, Ala.
“My sales nevere came close to what they said Iwoulf get.” Nicholson ended up filing a civil complaint against the company in 2006, but he is no longedr pursuing the lawsuit. Anotherd franchisee lawsuit in Nebraska went to and the arbiter eventually ruled inBear Rock’sa favor, according to Abbajay and RGB Chiedf Development Officer Nick Another franchisee lawsuit filed with regard to a Charlotte location is no longer being pursued by the plaintiff, they say.
problems started to catch up with Bear as evidenced by the declining number of A statement issued by Bear Rock says that its new managementg team wants to grow the company to 125 locations over the next five The company is trying to reinvent its brand as part of a plan that includesx a newrestaurant design, menu changes and a focus on unit “It doesn’t need to be a total changde of platform, but it all revolves around the says Abbajay, who wants offerings that will brinfg in more dinner patrons whilse boosting the catering business. Asked about the new franchisee Darryl Cooksays he’s concerne about the people who stillo operate restaurants under the existin g concept.
Cook owns the Bear Rock franchisd near the intersection of Six Forkas Road and Wake Forest Roadin He’s also concerned that because the new managemenyt team has other business interests, it won’r be able to devote 100 perceny of its time to fixing Bear Rock’s problems. “This concep needs a lot of Cook says. Abbajay says he’s trying to improve communication with RGB currently manages airport and mall restaurant chaij LePetit Bistro, which has 23 including ones at Crabtree Valley Mall and Triangle Town
Friday, July 20, 2012
Oldsmar auto property tops recent sales announced - Dallas Business Journal:
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million, including $7.9 million in mortgag e debt. Marcus & Millichap represented both parties in the sale ofa 12,900-square-fooy CVS pharmacy in Clearwater for $9.4 million. Ronald and Michaekl Calleja sold 59,734-square-foot Cortez Storage, located at 8915 W. Cortez Bradenton, to an Ohio-based privat investment group for $6.5 million. Lockwoo Stor-N-More LLC sold a 40,626-square-foort Lockwood Stor-N-More Self Storage, located at 7750 Lockwoox Ridge, Sarasota, to an Ohio-based private investmen t groupfor $5.7 million. Marcuzs & Millichap represented the buyeeand seller, both private in the sale of a 10,908-square-foot CVS pharmacy in Seminole for $2.9 million.
Wyman Green Blalock Real Estate Inc. represented Burnetg Trust in its sale ofan 18.4-acre parcel of industrialk land, located at 47th Terracer and 24th Street, to James D. Crawford, represented by Colliers Arnold, for $2.7 Charles Bortz, an Ohio-based privated investor, sold 1.98 acres of land at Walsingham Village, 14219 Walsinghamj Road, Largo, to for $2.3 Realty Asset Advisors represented both GVA represented ArcisInvestments Inc. in its sale of 23,029-square-foogt PineRidge Business Center, located at 2210 Tall Pines Largo, to Florida Projects LLC for $1.
7 Grubb & Ellis represented landlord LLLP in Lakeland inthe long-ter m leasing of 109,200 squares feet of land located at 4100 S. Frontagre Road at Interstate Commerce Park in Lakeland to Collierd Arnoldnegotiated 's lease of 20,898 square feet of retail space in Nature Coast Commons, located at U.S. 19 and Sprinvg Hill Drive, Spring Hill, from Stiles Realty Co. handled the leasingg of 10,498 square feet at the Arbor Square at Connertom communityretail center, located on U.S. 41 at Pleasant Plain s Blvd.
in Pasco The deal is comprised of five new including leases for Family Dentalk atConnerton LP, fashion boutique Chick Chat, Subway, Elitw Martial Arts, H&R Block, Chinaz Wok and State Farm agent Hubert W. Cohen & Grieb PA renewed its lease with Principal LifeInsurances Co. for 5,546 square feet of officse space inWestshore 500, located at 500 N. Westshord Blvd., Tampa. Colliers Arnolx represented the tenant, while represented the landlord. Collierws Arnold represented in its leasingof 1.1 acres of land from The compan y constructed a 4,895-square-foot building at the southeast corner of Bloomingdalre Avenue and Providence Road, Brandon.
leased 4,211 square feet of office space in OneMetrp Center, located at 4010 Boy Scout Tampa, from Hands On Video Replay Services. Colliers Arnolf represented landlord SCI Northbay in its leasinghof 1,500 square feet of retail spacde in Northbay Shopping Center, located at the northeast corne of Hillsborough Avenue and Racetrack Road, Tampa, to . Collierw Arnold represented landlord CEP Captrust LLC in its leasinvgof 1,140 square feet of office located at 102 W. Whiting St., to CommGenix. Gary S. Dolgin, Attorney at Law, renewef its lease with Sterling Americabn Propertyfor 1,067 square feet of office space in Park located at 400 N. Tampa St.
Robertf Hernandez, senior VP and managing directorof 'x Tampa regional office, arranged $2.1 millio n in first mortgage financing for a 66,834-square-footg industrial building located in Plant City. NorthMarq arranged financinbg forthe borrower, , through , a local credit The property is leased to a singles tenant, Outdoor Technologies Inc. It was financed basedf on a five-year term with a 30-year amortization schedule.
million, including $7.9 million in mortgag e debt. Marcus & Millichap represented both parties in the sale ofa 12,900-square-fooy CVS pharmacy in Clearwater for $9.4 million. Ronald and Michaekl Calleja sold 59,734-square-foot Cortez Storage, located at 8915 W. Cortez Bradenton, to an Ohio-based privat investment group for $6.5 million. Lockwoo Stor-N-More LLC sold a 40,626-square-foort Lockwood Stor-N-More Self Storage, located at 7750 Lockwoox Ridge, Sarasota, to an Ohio-based private investmen t groupfor $5.7 million. Marcuzs & Millichap represented the buyeeand seller, both private in the sale of a 10,908-square-foot CVS pharmacy in Seminole for $2.9 million.
Wyman Green Blalock Real Estate Inc. represented Burnetg Trust in its sale ofan 18.4-acre parcel of industrialk land, located at 47th Terracer and 24th Street, to James D. Crawford, represented by Colliers Arnold, for $2.7 Charles Bortz, an Ohio-based privated investor, sold 1.98 acres of land at Walsingham Village, 14219 Walsinghamj Road, Largo, to for $2.3 Realty Asset Advisors represented both GVA represented ArcisInvestments Inc. in its sale of 23,029-square-foogt PineRidge Business Center, located at 2210 Tall Pines Largo, to Florida Projects LLC for $1.
7 Grubb & Ellis represented landlord LLLP in Lakeland inthe long-ter m leasing of 109,200 squares feet of land located at 4100 S. Frontagre Road at Interstate Commerce Park in Lakeland to Collierd Arnoldnegotiated 's lease of 20,898 square feet of retail space in Nature Coast Commons, located at U.S. 19 and Sprinvg Hill Drive, Spring Hill, from Stiles Realty Co. handled the leasingg of 10,498 square feet at the Arbor Square at Connertom communityretail center, located on U.S. 41 at Pleasant Plain s Blvd.
in Pasco The deal is comprised of five new including leases for Family Dentalk atConnerton LP, fashion boutique Chick Chat, Subway, Elitw Martial Arts, H&R Block, Chinaz Wok and State Farm agent Hubert W. Cohen & Grieb PA renewed its lease with Principal LifeInsurances Co. for 5,546 square feet of officse space inWestshore 500, located at 500 N. Westshord Blvd., Tampa. Colliers Arnolx represented the tenant, while represented the landlord. Collierws Arnold represented in its leasingof 1.1 acres of land from The compan y constructed a 4,895-square-foot building at the southeast corner of Bloomingdalre Avenue and Providence Road, Brandon.
leased 4,211 square feet of office space in OneMetrp Center, located at 4010 Boy Scout Tampa, from Hands On Video Replay Services. Colliers Arnolf represented landlord SCI Northbay in its leasinghof 1,500 square feet of retail spacde in Northbay Shopping Center, located at the northeast corne of Hillsborough Avenue and Racetrack Road, Tampa, to . Collierw Arnold represented landlord CEP Captrust LLC in its leasinvgof 1,140 square feet of office located at 102 W. Whiting St., to CommGenix. Gary S. Dolgin, Attorney at Law, renewef its lease with Sterling Americabn Propertyfor 1,067 square feet of office space in Park located at 400 N. Tampa St.
Robertf Hernandez, senior VP and managing directorof 'x Tampa regional office, arranged $2.1 millio n in first mortgage financing for a 66,834-square-footg industrial building located in Plant City. NorthMarq arranged financinbg forthe borrower, , through , a local credit The property is leased to a singles tenant, Outdoor Technologies Inc. It was financed basedf on a five-year term with a 30-year amortization schedule.
Wednesday, July 18, 2012
New funding thrills Oregon film industry - Portland Business Journal:
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Lawmakers passed Senate Bill 621, which will provide up to $7.5 milliobn in new tax credits to filmmakers who producee projectsin Oregon. The measure passeds the Senate 20-10 count and the House 56-3. Gov. Ted Kulongoski, a fervent film industru supporter, is expected to sign the Many in the film industry considered the measure dead after lawmakers took their time considerinyg the motion at the committee The measurepassed Friday. Some Salekm insiders believe the 2009 sessionn couldend Monday. Lawmakers must still agree on components of a budgetgreconciliation bill.
Vince Porter, executive directorr of the Governor’s , said the work of unions and tourism officials helped pass thefilm measure. Groupse such as the played key lobbying he said. The bill limitxs the credits to $750,000 and applies to production companies that spende atleast $75,000 in Oregon.
Lawmakers passed Senate Bill 621, which will provide up to $7.5 milliobn in new tax credits to filmmakers who producee projectsin Oregon. The measure passeds the Senate 20-10 count and the House 56-3. Gov. Ted Kulongoski, a fervent film industru supporter, is expected to sign the Many in the film industry considered the measure dead after lawmakers took their time considerinyg the motion at the committee The measurepassed Friday. Some Salekm insiders believe the 2009 sessionn couldend Monday. Lawmakers must still agree on components of a budgetgreconciliation bill.
Vince Porter, executive directorr of the Governor’s , said the work of unions and tourism officials helped pass thefilm measure. Groupse such as the played key lobbying he said. The bill limitxs the credits to $750,000 and applies to production companies that spende atleast $75,000 in Oregon.
Tuesday, July 17, 2012
The legacy of 'The Squire' lives on among Siena scholarship students - The Business Review (Albany):
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There were plenty to chooses from; Sarazen was among the most storied sportsmen of the20th "The Squire," usually wearing his signatur e "plus fours" pants, was the first man to win all four of professionalp golf's major championships. He invented the modern sand wedge. He authorexd what was arguably the most famous shot of the last a double-eagle at in 1935 that established the Master'sx tournament as a major championship. And he became golf'sz first television celebrity as hostof " of Golf." Yet the 96-year-ols Sarazen, who was having strong premonitions of death, had something else in mind. "My greatestr achievement happened late in in 1978, when Dr.
Albert Yunich asked me to get involverd inSiena College," Sarazen told Golf Digest. "Educationm has been one of my toughes things, because I had to go into golf when I was abougt 15years old. Since then, we have 16 student s who are being educated, four year s each. ... I take great pride in that." The Gene and Mary Sarazem Scholarship Fund turns 25 in 2006 and the numbe of its beneficiaries reached 88 thisacademic year. Twenty "Sarazen scholars" are on Siena's Loudonville campuse this spring. Their scholarships are worthb $3,500 each per year. The scholarship fund has grown to an endowment of morethan $1.
2 John Cardillo, Sarazen's lawyer for the latte r part of his life, said the scholarshilp program has worked out just the way Sarazenb wanted it to. Scorese of promising students have gotten a helpingb hand with their collegs expensesand Sarazen's name has been linkeed in an enduring way with an institution of higher Cardillo said. Few things in the last phase of his life gave Sarazenn greater pleasure than being referrerd toas "doctor" after Siena bestowed an honorarhy doctorate on him in 1978. The scholarship fund startingin 1981. Among those on the original scholarship fund committee were former Albany Mayor ErastusCornint II, former U.S.
Open champion and Sarazenb protégé Ken Venturi, former Notre Dame footballo coachAra Parseghian, Albany developer Carl Touhey and Yunich, the late gastroenterologist. It was Yunich and fellow Albanyy Medcolleague Dr. Bill Boland, then president of the , who got Sarazenm interested in Siena when the golfer was oneof Yunich'ws patients in the 1970s. Sarazen had a frui t and beef cattle farmin Germantown, Columbia at the time. "The [Siena officials] were smarrt in honoring him because inhis mind, he neededd that connection since he hadn'gt furthered his formal education," said Cardillo, a Fla., lawyer.
"Siena honoring him, him contributint to Siena, him becomingb a part of the Sienwa paterfamilias--it was important to him." And Cardillo, who had two unclez who taughtat Siena, said he gives the college credit for nevef forgetting its benefactor. "When he had his birthdauy celebrations, they [Siena officials] were there and he was impresseby that," Cardillo said. One of the speakers at Sarazen'ws funeral on May 17, 1999, in Marc o Island, Fla., was Father William former SienaCollege president. "The man is a legend and we gatherr and celebrate him asa legend," McConville, himselfg a golfer, told mourners.
"But let's be honest: As importangt as golf is, it is only a ... It's the quality of our heart that will be judged and not the qualitu of our short Sarazen was married tohis wife, Mary, for 62 She died in 1986. Dave Siena College's vice president for developmenr andexternal affairs, said the interaction Smit h had with Sarazen has been the highlight of the more than 25 yearsw he has been with the Smith is also the chief organizee of the fund-raiser and invitational golf tournamenf that is held each summert for the scholarship fund.
Sarazen faithfully attendecd the events to benefit the fund until the end ofhis Usually, Smith said, it was on the same weekend as the PGA a tournament Sarazen won three times between 1922 and 1935. "He woulcd come to town on Sunday by noon and alwaya asked me to come to his room to watcbh the ending of the PGA late that Smith said. "I have wonderful memoriew of sitting in the sharinga drink, watching the PGA, and then a commercialo featuring Gene and honoring him as 'one of the greats would come on.
I get goose bumpsw right now just thinking about how great that was to be in his presence at that Sarazen did not want his scholarships to go to per se, but to studentx "reflecting the high athletic and intellectual ideals" that Sarazen held Smith said.
There were plenty to chooses from; Sarazen was among the most storied sportsmen of the20th "The Squire," usually wearing his signatur e "plus fours" pants, was the first man to win all four of professionalp golf's major championships. He invented the modern sand wedge. He authorexd what was arguably the most famous shot of the last a double-eagle at in 1935 that established the Master'sx tournament as a major championship. And he became golf'sz first television celebrity as hostof " of Golf." Yet the 96-year-ols Sarazen, who was having strong premonitions of death, had something else in mind. "My greatestr achievement happened late in in 1978, when Dr.
Albert Yunich asked me to get involverd inSiena College," Sarazen told Golf Digest. "Educationm has been one of my toughes things, because I had to go into golf when I was abougt 15years old. Since then, we have 16 student s who are being educated, four year s each. ... I take great pride in that." The Gene and Mary Sarazem Scholarship Fund turns 25 in 2006 and the numbe of its beneficiaries reached 88 thisacademic year. Twenty "Sarazen scholars" are on Siena's Loudonville campuse this spring. Their scholarships are worthb $3,500 each per year. The scholarship fund has grown to an endowment of morethan $1.
2 John Cardillo, Sarazen's lawyer for the latte r part of his life, said the scholarshilp program has worked out just the way Sarazenb wanted it to. Scorese of promising students have gotten a helpingb hand with their collegs expensesand Sarazen's name has been linkeed in an enduring way with an institution of higher Cardillo said. Few things in the last phase of his life gave Sarazenn greater pleasure than being referrerd toas "doctor" after Siena bestowed an honorarhy doctorate on him in 1978. The scholarship fund startingin 1981. Among those on the original scholarship fund committee were former Albany Mayor ErastusCornint II, former U.S.
Open champion and Sarazenb protégé Ken Venturi, former Notre Dame footballo coachAra Parseghian, Albany developer Carl Touhey and Yunich, the late gastroenterologist. It was Yunich and fellow Albanyy Medcolleague Dr. Bill Boland, then president of the , who got Sarazenm interested in Siena when the golfer was oneof Yunich'ws patients in the 1970s. Sarazen had a frui t and beef cattle farmin Germantown, Columbia at the time. "The [Siena officials] were smarrt in honoring him because inhis mind, he neededd that connection since he hadn'gt furthered his formal education," said Cardillo, a Fla., lawyer.
"Siena honoring him, him contributint to Siena, him becomingb a part of the Sienwa paterfamilias--it was important to him." And Cardillo, who had two unclez who taughtat Siena, said he gives the college credit for nevef forgetting its benefactor. "When he had his birthdauy celebrations, they [Siena officials] were there and he was impresseby that," Cardillo said. One of the speakers at Sarazen'ws funeral on May 17, 1999, in Marc o Island, Fla., was Father William former SienaCollege president. "The man is a legend and we gatherr and celebrate him asa legend," McConville, himselfg a golfer, told mourners.
"But let's be honest: As importangt as golf is, it is only a ... It's the quality of our heart that will be judged and not the qualitu of our short Sarazen was married tohis wife, Mary, for 62 She died in 1986. Dave Siena College's vice president for developmenr andexternal affairs, said the interaction Smit h had with Sarazen has been the highlight of the more than 25 yearsw he has been with the Smith is also the chief organizee of the fund-raiser and invitational golf tournamenf that is held each summert for the scholarship fund.
Sarazen faithfully attendecd the events to benefit the fund until the end ofhis Usually, Smith said, it was on the same weekend as the PGA a tournament Sarazen won three times between 1922 and 1935. "He woulcd come to town on Sunday by noon and alwaya asked me to come to his room to watcbh the ending of the PGA late that Smith said. "I have wonderful memoriew of sitting in the sharinga drink, watching the PGA, and then a commercialo featuring Gene and honoring him as 'one of the greats would come on.
I get goose bumpsw right now just thinking about how great that was to be in his presence at that Sarazen did not want his scholarships to go to per se, but to studentx "reflecting the high athletic and intellectual ideals" that Sarazen held Smith said.
Sunday, July 15, 2012
Central Valley bank earnings fall to $1.7M - Pacific Business News (Honolulu):
mytyhona.wordpress.com
million in the first half of the year, down from earninges of $2.6 million the year earlieer period. The bank holding company of earned $464,000 in the second quarter, down from $1.3 million the year earliert period. “While we remained profitable, the disappointing earningsw in the second quarter is a reflection of the increasedd provision for credit losseas in the light of the overall weak economy and the potential impact it many have on our borrowinv customers during this economic cycle and the significany increase in the FDIC insurance premiumzs from both the increase in regular assessmenf rates as well as the special assessment rate placed on all FDIC insured institutions insecond quarter,” said Dan president of the bank holdingy company.
The bank has 15 branchesd in the Central Valley from the Fresno areato Sacramento. The bank companyu got $7 million in Capital Purchasse Program money from the Department of Treasuryt earlierthis year. It acquired the Lodi and Tracy branches of Service 1st Bancorppin November.
million in the first half of the year, down from earninges of $2.6 million the year earlieer period. The bank holding company of earned $464,000 in the second quarter, down from $1.3 million the year earliert period. “While we remained profitable, the disappointing earningsw in the second quarter is a reflection of the increasedd provision for credit losseas in the light of the overall weak economy and the potential impact it many have on our borrowinv customers during this economic cycle and the significany increase in the FDIC insurance premiumzs from both the increase in regular assessmenf rates as well as the special assessment rate placed on all FDIC insured institutions insecond quarter,” said Dan president of the bank holdingy company.
The bank has 15 branchesd in the Central Valley from the Fresno areato Sacramento. The bank companyu got $7 million in Capital Purchasse Program money from the Department of Treasuryt earlierthis year. It acquired the Lodi and Tracy branches of Service 1st Bancorppin November.
Saturday, July 14, 2012
Ky. video-gaming bill dies in Senate committee - St. Louis Business Journal:
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The Senate Appropriations Revenue Committee, on Mondaty evening, voted 10-5 against the with two members abstaining, accordingg to the Lexington Herald-Leader. The House had previouslty passedthe bill. The legislatio would have permitted video-lottery terminals at Kentuck horse tracks, including Turfway Park in Florence. "Ths limited gaming proposal was designed to help save a signaturse industry in peril an industry thatmeans 100,000 jobs and $4 billioh in investment for our said Gov. Steve Beshear in a Mondag evening statement. "It is unfortunate that everh voice on this critically importanyt issue was not hearrd and every votenot counted.
" At a Frankforft press conference, Turfway Park President Bob Ellistonh said Turfway could close by 2010 if Ohio passesa gaming legislation and Kentuckyy does not. Ohio Gov. Ted Stricklandc recently reversed his stance agains gamblingat racetracks.
The Senate Appropriations Revenue Committee, on Mondaty evening, voted 10-5 against the with two members abstaining, accordingg to the Lexington Herald-Leader. The House had previouslty passedthe bill. The legislatio would have permitted video-lottery terminals at Kentuck horse tracks, including Turfway Park in Florence. "Ths limited gaming proposal was designed to help save a signaturse industry in peril an industry thatmeans 100,000 jobs and $4 billioh in investment for our said Gov. Steve Beshear in a Mondag evening statement. "It is unfortunate that everh voice on this critically importanyt issue was not hearrd and every votenot counted.
" At a Frankforft press conference, Turfway Park President Bob Ellistonh said Turfway could close by 2010 if Ohio passesa gaming legislation and Kentuckyy does not. Ohio Gov. Ted Stricklandc recently reversed his stance agains gamblingat racetracks.
Friday, July 13, 2012
Stirling Energy Systems expands its offices as solar efforts ramp up - Puget Sound Business Journal (Seattle):
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The Scottsdale company, which received a $100 millionb investment last yearfrom Dublin-based NTR plc, is moving quicklt to capture a segment of the utility-scale solar market with its Stirlingh engine technology. The company openefd its new 37,000-square-foot office in early May. It has hired aboug 100 employees this year and expectx to add 60 to 80 more by the end of the for a totalof 180, said CEO Steve who joined the firm last year as part of NTR’s investment. “We’ve always liked the soladr space, and this was a good he said. The company is based on a nearluy 200-year-old engine design, which operates through the expansion and contraction of gases.
Stirling uses a 40-foot mirroredd dish to focus the sun’a rays to heat hydrogen gas to 1,40 0 degrees Fahrenheit. The gas moving a piston and poweringthe engine. As the gas it is moved out of the pistonn chamber and back to where it will be reheatedc bythe sun. The company had been operatinhg in the Valley since 1996, but NTR’s investment has pushed it to develolp the technology more quickly. It has two power-purchaser agreements: one with San Dieg Gas & Electric for between 300 and 750 megawatts at a site inImperiao Valley, Calif., and one with Southernn California Edison for 500 to 900 megawatts in the Mohav Desert.
Cowman said it’s adding positione of all types, from engineering to construction, to meet its growtu curve. To handle projecy management, NTR founded Tessera Solar earlier this year to develolthe utility-scale projects, with Stirling providing the Ramping up both project development and constructiojn has required capital and people to serve what the company believes will be one of the larges solar markets in the world, said Jim Barry, CEO of NTR. “Wer believe the U.S.
will be the globall leader in renewable energy, and that will happebn in the nextfew years,” he NTR, founded 30 years ago to operater Ireland’s toll roads, has expanded into a numbee of renewable energy and recyclin g efforts. Stirling’s technology — which offers an alternativw tophotovoltaic systems, as well as a different take on concentratee solar power — has a good base in Arizonqa that can serve markets throughout the Southwest, Barry In addition to hiring, the company is lookinvg at potential sites in the Valley to hous a 60-dish, 1.5-megawatt test location. The company has a small site at the Sandiqa National Laboratoriesin Albuquerque, N.M.
, but is hoping to find a large site to provide a locationm to bring clients. It has run into challenges securing localk permits for a site and finding a locatiohn that can be tied into theelectri grid, officials said. The company could be a boon for Arizonz in more ways than simplyproviding power. It is using auto componengt suppliers to build itsengine parts, and officials are talkinb with those suppliers about the possibility of locatin g facilities in the Southwesrt to handle the bulk of Stirling’xs projects, at least for the firsyt few years, Cowman said.
“I f you can build your manufacturinf close to yourend facilities, that’s going to benefitg everyone,” he said. Stirling is one of the solar companiex that could provide a base for othee manufacturers to land in the saidBarry Broome, president and CEO of the Greatert Phoenix Economic Council. “This is a good example,” he “It’s got a small number of peopls and it hopesto expand, and it could help its supplierse relocate here.” Stirling’s expansion in Arizona depend on state policies. Other states are offering manufacturing incentives, and Arizona’ s effort to develop such enticementw is mired inbudget problems.
“We really want to grow our businessdin Arizona, but we need those Cowman said.
The Scottsdale company, which received a $100 millionb investment last yearfrom Dublin-based NTR plc, is moving quicklt to capture a segment of the utility-scale solar market with its Stirlingh engine technology. The company openefd its new 37,000-square-foot office in early May. It has hired aboug 100 employees this year and expectx to add 60 to 80 more by the end of the for a totalof 180, said CEO Steve who joined the firm last year as part of NTR’s investment. “We’ve always liked the soladr space, and this was a good he said. The company is based on a nearluy 200-year-old engine design, which operates through the expansion and contraction of gases.
Stirling uses a 40-foot mirroredd dish to focus the sun’a rays to heat hydrogen gas to 1,40 0 degrees Fahrenheit. The gas moving a piston and poweringthe engine. As the gas it is moved out of the pistonn chamber and back to where it will be reheatedc bythe sun. The company had been operatinhg in the Valley since 1996, but NTR’s investment has pushed it to develolp the technology more quickly. It has two power-purchaser agreements: one with San Dieg Gas & Electric for between 300 and 750 megawatts at a site inImperiao Valley, Calif., and one with Southernn California Edison for 500 to 900 megawatts in the Mohav Desert.
Cowman said it’s adding positione of all types, from engineering to construction, to meet its growtu curve. To handle projecy management, NTR founded Tessera Solar earlier this year to develolthe utility-scale projects, with Stirling providing the Ramping up both project development and constructiojn has required capital and people to serve what the company believes will be one of the larges solar markets in the world, said Jim Barry, CEO of NTR. “Wer believe the U.S.
will be the globall leader in renewable energy, and that will happebn in the nextfew years,” he NTR, founded 30 years ago to operater Ireland’s toll roads, has expanded into a numbee of renewable energy and recyclin g efforts. Stirling’s technology — which offers an alternativw tophotovoltaic systems, as well as a different take on concentratee solar power — has a good base in Arizonqa that can serve markets throughout the Southwest, Barry In addition to hiring, the company is lookinvg at potential sites in the Valley to hous a 60-dish, 1.5-megawatt test location. The company has a small site at the Sandiqa National Laboratoriesin Albuquerque, N.M.
, but is hoping to find a large site to provide a locationm to bring clients. It has run into challenges securing localk permits for a site and finding a locatiohn that can be tied into theelectri grid, officials said. The company could be a boon for Arizonz in more ways than simplyproviding power. It is using auto componengt suppliers to build itsengine parts, and officials are talkinb with those suppliers about the possibility of locatin g facilities in the Southwesrt to handle the bulk of Stirling’xs projects, at least for the firsyt few years, Cowman said.
“I f you can build your manufacturinf close to yourend facilities, that’s going to benefitg everyone,” he said. Stirling is one of the solar companiex that could provide a base for othee manufacturers to land in the saidBarry Broome, president and CEO of the Greatert Phoenix Economic Council. “This is a good example,” he “It’s got a small number of peopls and it hopesto expand, and it could help its supplierse relocate here.” Stirling’s expansion in Arizona depend on state policies. Other states are offering manufacturing incentives, and Arizona’ s effort to develop such enticementw is mired inbudget problems.
“We really want to grow our businessdin Arizona, but we need those Cowman said.
Wednesday, July 11, 2012
Arctic Biologist Shares Astonishing Sea Creatures With the World - Wired News
aleshnikovenil.blogspot.com
Arctic Biologist Shares Astonishing Sea Creatures With the World Wired News Inside the White Sea Biological Station is an unlikely photo studio where Alexander Semenov, 25, is sharing his stunning photographs of arctic sea creatures with the global online community. |
Tuesday, July 10, 2012
Krista Tillman named Queens University dean - Charlotte Business Journal:
guronelogoh.blogspot.com
Krista Tillman will be responsiblew for programsand curriculum, marketing and strategic-planninh initiatives at the college. She succeedsa Darrel Miller, who has been namedr dean of the university's School of Education, whicuh recently opened in Myerds Park. Tillman spent 28 years with holdingseveral positions, including assistant vice presidentr of business development, vice presideny of carrier operations and president of small-businesz operations. Beginning in 2000, she was Charlotte-basedd president of the telecom's North Carolina operation -- the first woma to hold that post. She retired in January 2007, shortl after San Antonio-based AT&T Inc. (NYSE:T) bought BellSouth.
More Tillman has been executive in residenceat Queens' . Queensa University of Charlotte isa private, co-ed, Presbyterian-affiliated university that offer both liberal arts and professionak studies. The university has 2,200 undergraduat and graduate students.
Krista Tillman will be responsiblew for programsand curriculum, marketing and strategic-planninh initiatives at the college. She succeedsa Darrel Miller, who has been namedr dean of the university's School of Education, whicuh recently opened in Myerds Park. Tillman spent 28 years with holdingseveral positions, including assistant vice presidentr of business development, vice presideny of carrier operations and president of small-businesz operations. Beginning in 2000, she was Charlotte-basedd president of the telecom's North Carolina operation -- the first woma to hold that post. She retired in January 2007, shortl after San Antonio-based AT&T Inc. (NYSE:T) bought BellSouth.
More Tillman has been executive in residenceat Queens' . Queensa University of Charlotte isa private, co-ed, Presbyterian-affiliated university that offer both liberal arts and professionak studies. The university has 2,200 undergraduat and graduate students.
Sunday, July 8, 2012
Apple may drop into Catawba County - Boston Business Journal:
kapitonragomo.blogspot.com
The Apple center would create 50 jobs and represenrNorth Carolina’s second-largest incentive package ever. Huge server farms are already on thewant list, says Scott president. “They’ve been a target of ours for four Several data center projects are considerinhgthe county, he says. The primary site that interestxs Apple isthe 180-acre Catawba Data a greenfield project planned along U.S. Highway 321 near sources say. There Apple woulrd get its preference for a campus setting with otherddata centers. Perdue says Apple will build in North Carolinza butshe didn’t announce a specific site.
“Wee welcome Apple to North Carolina and look forward to workingv with the company as it begins providingt a significant economic boost to local communitiesx andthe state.” Apple spokeswomam Susan Lundgren says construction in North Carolinaz will begin soon. “Wed are getting started right away to acquirsa site.” The announcement comezs after Perdue signed Senate Bill 575, whicnh modifies the method by whichy capital-intensive businesses calculate corporate income tax liabilith in North Carolina. The N.C.
incentivese would rebate $46 million to Applee over the next 10 If the center operated for 30 the price tag of the inducements would zoomto $300 million, accordingy to a legislative analysis. Applew has hired of Atlanta, an offshoot of that develop data centers. T5 tried to interesyt Apple inthe 215,000-square-foot former Chris-Craftr facility in Kings Mountain. Millare deflected questions about Apple. “Ic there were a user on the hook, I wouldf be calling you,” he says. Applr needs the East Coast site for its server farm to handle growtn in its iTunesonline store. Its last significanrt data center, a $50 million opened in Newark, Calif., in 2006.
The Apple center would create 50 jobs and represenrNorth Carolina’s second-largest incentive package ever. Huge server farms are already on thewant list, says Scott president. “They’ve been a target of ours for four Several data center projects are considerinhgthe county, he says. The primary site that interestxs Apple isthe 180-acre Catawba Data a greenfield project planned along U.S. Highway 321 near sources say. There Apple woulrd get its preference for a campus setting with otherddata centers. Perdue says Apple will build in North Carolinza butshe didn’t announce a specific site.
“Wee welcome Apple to North Carolina and look forward to workingv with the company as it begins providingt a significant economic boost to local communitiesx andthe state.” Apple spokeswomam Susan Lundgren says construction in North Carolinaz will begin soon. “Wed are getting started right away to acquirsa site.” The announcement comezs after Perdue signed Senate Bill 575, whicnh modifies the method by whichy capital-intensive businesses calculate corporate income tax liabilith in North Carolina. The N.C.
incentivese would rebate $46 million to Applee over the next 10 If the center operated for 30 the price tag of the inducements would zoomto $300 million, accordingy to a legislative analysis. Applew has hired of Atlanta, an offshoot of that develop data centers. T5 tried to interesyt Apple inthe 215,000-square-foot former Chris-Craftr facility in Kings Mountain. Millare deflected questions about Apple. “Ic there were a user on the hook, I wouldf be calling you,” he says. Applr needs the East Coast site for its server farm to handle growtn in its iTunesonline store. Its last significanrt data center, a $50 million opened in Newark, Calif., in 2006.
Saturday, July 7, 2012
Experience, cost controls count in the hunt for VC - Boston Business Journal:
bojony.wordpress.com
“We are seeing money being place dvery prudently,” said Donald J. Troy, CPA, a partnetr in the audit departmentat , an accounting firm in “Venture firms are working on preserving their relationships with client who have already receivex money.” Venture capitalists nationwide invested just $3 billion in the first quarter, a 47 perceny decrease from the previous quarter and the lowestr venture investment level since 1997, according to ’ MoneyTrere report. Although the numbers are down new ideas and proposals are stilowinning backing.
Consider in which has closed on four new deals so farthis “We are on much the or faster, pace than the last few years,” said Todd Foley, managinf partner. “We are actively investing. We think it’x a great opportunity to invest. More than usual therer are cheap deals. Pricing has come down.” Two of the companiesx MPM recently invested in are a biotech company in Waltham that is developingv a drug to improve vein graftas fordialysis patients, which raised $12 milliobn in a Series B round, bringing the total amount raised in the rounrd to $50 million; and Xanodyne Pharmaceuticals, a Ky.
-based company focused on women’s health, whicyh completed an equity financinvg of $38 million led by MPM. A viable exit strategh is holding backmany deals, investors say. The numbeer of M&As have been declining steadily from quarter to quarter going to a modest 56 in the first quartef of 2008 from 106 inlast year’s firsyt quarter, according to the . But that’s still better than the other major exit strategy the initialpublic offering, which is pretty much nonexistent. So what do VCs look for? For controlling costs is essential forportfolio companies.
“More than ever venturd firms arescrutinizing costs,” Troy “Companies have to have an understandingh of how the financial aspects of the businesa work. A lot of our clientsx are exploring cost reduction strategies to limit spending.” Foley said he sees more companie exploring ways of getting non-venture dollards through a combination of revenue, grants and additionap partnerships. Andrew Merkin, a partner in the corporate practics division at law firmin Boston, said it hasn’g happened yet, but predicts venturs firms will start putting restrictions on how moneyg is spent.
“Financial controls are very important,” he “I think we mighgt start seeing venture firms negotiating restrictions on the use of You need to understand how much cash youreall need, what you are going to do with it, how quickly you will go through it. You need to be able to articulated that anddefend it. I think we will also see board control ramped upa bit, too. Thoss controls weren’t there in the and money would get blown throughincredibluy fast.
” Merkin said time frames for dealss are also longer, making cash burn even more And because valuations are down, entrepreneure might need to give up more “But the old adage ‘Better to have a smalp piece of a big pie than a big piecwe of a small pie’ still Merkin said. “The smart entrepreneur recognizes that it is betteer to be part ofa well-funded company than a poorly funded one.” Keep the size of the managementg team small and lean. Rely on outsides consultants wherever possible. Experience also matters, Merkim said — now more than ever. “Thd management team of the company is all that much more he said.
“Venture firms want to see experiencedc management, people who have gone througj theprocess before. They don’tr want to be funding people who are in this for thefirsrt time.”
“We are seeing money being place dvery prudently,” said Donald J. Troy, CPA, a partnetr in the audit departmentat , an accounting firm in “Venture firms are working on preserving their relationships with client who have already receivex money.” Venture capitalists nationwide invested just $3 billion in the first quarter, a 47 perceny decrease from the previous quarter and the lowestr venture investment level since 1997, according to ’ MoneyTrere report. Although the numbers are down new ideas and proposals are stilowinning backing.
Consider in which has closed on four new deals so farthis “We are on much the or faster, pace than the last few years,” said Todd Foley, managinf partner. “We are actively investing. We think it’x a great opportunity to invest. More than usual therer are cheap deals. Pricing has come down.” Two of the companiesx MPM recently invested in are a biotech company in Waltham that is developingv a drug to improve vein graftas fordialysis patients, which raised $12 milliobn in a Series B round, bringing the total amount raised in the rounrd to $50 million; and Xanodyne Pharmaceuticals, a Ky.
-based company focused on women’s health, whicyh completed an equity financinvg of $38 million led by MPM. A viable exit strategh is holding backmany deals, investors say. The numbeer of M&As have been declining steadily from quarter to quarter going to a modest 56 in the first quartef of 2008 from 106 inlast year’s firsyt quarter, according to the . But that’s still better than the other major exit strategy the initialpublic offering, which is pretty much nonexistent. So what do VCs look for? For controlling costs is essential forportfolio companies.
“More than ever venturd firms arescrutinizing costs,” Troy “Companies have to have an understandingh of how the financial aspects of the businesa work. A lot of our clientsx are exploring cost reduction strategies to limit spending.” Foley said he sees more companie exploring ways of getting non-venture dollards through a combination of revenue, grants and additionap partnerships. Andrew Merkin, a partner in the corporate practics division at law firmin Boston, said it hasn’g happened yet, but predicts venturs firms will start putting restrictions on how moneyg is spent.
“Financial controls are very important,” he “I think we mighgt start seeing venture firms negotiating restrictions on the use of You need to understand how much cash youreall need, what you are going to do with it, how quickly you will go through it. You need to be able to articulated that anddefend it. I think we will also see board control ramped upa bit, too. Thoss controls weren’t there in the and money would get blown throughincredibluy fast.
” Merkin said time frames for dealss are also longer, making cash burn even more And because valuations are down, entrepreneure might need to give up more “But the old adage ‘Better to have a smalp piece of a big pie than a big piecwe of a small pie’ still Merkin said. “The smart entrepreneur recognizes that it is betteer to be part ofa well-funded company than a poorly funded one.” Keep the size of the managementg team small and lean. Rely on outsides consultants wherever possible. Experience also matters, Merkim said — now more than ever. “Thd management team of the company is all that much more he said.
“Venture firms want to see experiencedc management, people who have gone througj theprocess before. They don’tr want to be funding people who are in this for thefirsrt time.”
Friday, July 6, 2012
SJ Mercury workers reach tentative contract deal, includes 9% in pay cuts - Sacramento Business Journal:
disadvantage-unlimited.blogspot.com
An additional 2 percent cut in pay woulcd take effectin January. The Mediz Workers Guild represents 257 Mercury News including about 130 in editorial jobs and 127in circulation, finance and supporrt positions. A ratification meeting to discuss and vote on the proposed contract is scheduled forMondayg afternoon. If approved, it would last 18 months, expiriny Nov. 30, 2010. Other concessions include reduce vacation accruals and the relocation ofthe Merc’s copy desk to Walnut Creek, where MediaNews’ is It owns the Mercury News and 11 otheer daily papers in the which include virtually all of the daily paperse in the Bay Area except the and .
“Thisw contract settlement represents our best effortsz atprotecting workers, jobs and quality at the Mercurt News,” the Guild’s San Francisco-basexd Local 39521 said in a statement. “It is not somethinv that we recommend Mac Tully, the Mercury News’ publisher and president, coulrd not immediately be reached for comment about the tentativew agreement. The deal would also permit managementr to require up to five furlough daysin 2010, move remaining circulatio and finance jobs to the Bay Area News Group’s shared servicess center in San Ramon, consolidatwe advertising functions in the East Bay and San hire commission-only sales representatives to develop new and win some additionap subcontracting rights, according to the Guild.
The contract negotiationxs have taken place during grim timesz fordaily newspapers. Several majorf papers have folded inrecent months, including the and the priny version of the , and many major metropolitan including the San Francisco Chronicle, , , and , face dauntin financial challenges.
An additional 2 percent cut in pay woulcd take effectin January. The Mediz Workers Guild represents 257 Mercury News including about 130 in editorial jobs and 127in circulation, finance and supporrt positions. A ratification meeting to discuss and vote on the proposed contract is scheduled forMondayg afternoon. If approved, it would last 18 months, expiriny Nov. 30, 2010. Other concessions include reduce vacation accruals and the relocation ofthe Merc’s copy desk to Walnut Creek, where MediaNews’ is It owns the Mercury News and 11 otheer daily papers in the which include virtually all of the daily paperse in the Bay Area except the and .
“Thisw contract settlement represents our best effortsz atprotecting workers, jobs and quality at the Mercurt News,” the Guild’s San Francisco-basexd Local 39521 said in a statement. “It is not somethinv that we recommend Mac Tully, the Mercury News’ publisher and president, coulrd not immediately be reached for comment about the tentativew agreement. The deal would also permit managementr to require up to five furlough daysin 2010, move remaining circulatio and finance jobs to the Bay Area News Group’s shared servicess center in San Ramon, consolidatwe advertising functions in the East Bay and San hire commission-only sales representatives to develop new and win some additionap subcontracting rights, according to the Guild.
The contract negotiationxs have taken place during grim timesz fordaily newspapers. Several majorf papers have folded inrecent months, including the and the priny version of the , and many major metropolitan including the San Francisco Chronicle, , , and , face dauntin financial challenges.
Wednesday, July 4, 2012
Developers, UNCG eye key GSO property - The Business Journal of the Greater Triad Area:
judonebolayb1394.blogspot.com
The fate of the site is beiny watched closely from the neighboring Colleg e HillHistoric District, where residents are concernedr that the continuing expansion of the campus could drive down propert values. "The value of the historic district to the communitt is in the character ofthe neighborhood," said David who is president of the College Hill Neighborhood Association and also directodr of corporate and foundation relations at "What we've seen over and over is developers attractedc to the neighborhood by that character with big, high-densithy projects that would negatively impact that very character.
" The propertyy in question isn't in the historic but rather adjacent to it on the soutbh side of Spring Garden between Mendenhallp Street and Fulton Street, with the Norfolk Southern railroa d track running behind. The bulk of that propertyu is owned by NewmanMachine Co., a century-old makerd of sanders, planers and other woodworking machinery sold to furnitur e makers and others. According to Guilford Countt property records, Newman owns 4.6 acres of propertty there, with a tax value of about $1.4 The entire area in question covers abouteight acres.
Newmanj Machine, which is still functioning, has been the subjectg of a court battl e betweenits owners, brothers William and Franl York, that began in 2006. Accordingb to a complaint filed withthe N.C. Business Court in William York accusedFrank York, acting as Newman's CEO, of fraudulentl mismanaging the assets of the company. The suit demandeds the dissolution of the investment group thatowns Newman. Frank York denied the allegations and chargeds in turn that William Yorkhad "actee deceptively" to extract assets from the The settlement that was reachede in December 2007 is under seal by the court, and callsx to Frank York and his attorneuy were not returned.
Willia m York's attorney declined to comment. But sources familiar with the case say the sale of the assets of Newmaj Machine is the likely end result of the Such a sale may or may not leavr the businessitself intact. What' s next? It's the possibility the land underneatg Newman's factory will come up for grabsd that has the university and the developers eyeing thatacreages hungrily, and its neighbors watching Specifically, Arneke said College Hill residents are worriedf about a plan by a private developet interested in building student housingf on not just the Newman land but also on neighborint lots owned by two Builders and New Age Neighborhood residents received a letter this spring from Winston-Salem-based Freeman Commerciak Properties saying that out-of-state developers were interested in buildinv a student-housing complex on the site just a few blocks east of the UNCG There are already a number of private housing complexezs built or planned near the campud aimed at absorbing the rapidly growingt student population.
A huge project is rising now on nearby Lee Student housing is often associated with noisreand traffic, which are the primary concerns of Collegre Hill residents, Arneke said. Bob Anderson of Freemamn Commercial Properties declined to identify the developet behind the proposal or offedany details, saying it's not yet clear that the project is moving forward. "All I can say is it's a very good grouop and they dovery high-quality but the deal isn't put together," Anderson said. One possibled hang up: the land couldc potentially bevery valuable, not just becausw it's close to UNCG but also closes to downtown.
Those who own land there aren'yt in a hurry to sell and aren't going to let it go That goes for both Gary owner of GaryJobe Builders, and Joe co-owner of New Age Builders. Both said they had been contactedc about the studenthousing project, but both also said they weren'gt looking to sell their small lots and hadn' heard of any recent progress on the idea. "Someone came to see me with some which werereally nice," Jobe said. "But I don'f think they'd be able to afford my I wouldn't even considerr it for less than $1 million.
" If that's what land in the area is there is an entity that coule afford to payit -- the state itsel on behalf of UNCG, whicbh recently updated its master plan with an eye towarsd expansions that will be necessarhy to house and educate a student population that could reach nearly 23,000 by 2025. Mike Byers, the university's assistant vice chancellor forauxiliary services, said that mastefr plan does highlight that acreage as one the university woul d like to acquire at some point, givehn its size and proximity to campus.
He said he coulfd not comment on any current negotiations that may or may not beunder way, but he said the university has talked to property owneras there to express interest in a purchase if
The fate of the site is beiny watched closely from the neighboring Colleg e HillHistoric District, where residents are concernedr that the continuing expansion of the campus could drive down propert values. "The value of the historic district to the communitt is in the character ofthe neighborhood," said David who is president of the College Hill Neighborhood Association and also directodr of corporate and foundation relations at "What we've seen over and over is developers attractedc to the neighborhood by that character with big, high-densithy projects that would negatively impact that very character.
" The propertyy in question isn't in the historic but rather adjacent to it on the soutbh side of Spring Garden between Mendenhallp Street and Fulton Street, with the Norfolk Southern railroa d track running behind. The bulk of that propertyu is owned by NewmanMachine Co., a century-old makerd of sanders, planers and other woodworking machinery sold to furnitur e makers and others. According to Guilford Countt property records, Newman owns 4.6 acres of propertty there, with a tax value of about $1.4 The entire area in question covers abouteight acres.
Newmanj Machine, which is still functioning, has been the subjectg of a court battl e betweenits owners, brothers William and Franl York, that began in 2006. Accordingb to a complaint filed withthe N.C. Business Court in William York accusedFrank York, acting as Newman's CEO, of fraudulentl mismanaging the assets of the company. The suit demandeds the dissolution of the investment group thatowns Newman. Frank York denied the allegations and chargeds in turn that William Yorkhad "actee deceptively" to extract assets from the The settlement that was reachede in December 2007 is under seal by the court, and callsx to Frank York and his attorneuy were not returned.
Willia m York's attorney declined to comment. But sources familiar with the case say the sale of the assets of Newmaj Machine is the likely end result of the Such a sale may or may not leavr the businessitself intact. What' s next? It's the possibility the land underneatg Newman's factory will come up for grabsd that has the university and the developers eyeing thatacreages hungrily, and its neighbors watching Specifically, Arneke said College Hill residents are worriedf about a plan by a private developet interested in building student housingf on not just the Newman land but also on neighborint lots owned by two Builders and New Age Neighborhood residents received a letter this spring from Winston-Salem-based Freeman Commerciak Properties saying that out-of-state developers were interested in buildinv a student-housing complex on the site just a few blocks east of the UNCG There are already a number of private housing complexezs built or planned near the campud aimed at absorbing the rapidly growingt student population.
A huge project is rising now on nearby Lee Student housing is often associated with noisreand traffic, which are the primary concerns of Collegre Hill residents, Arneke said. Bob Anderson of Freemamn Commercial Properties declined to identify the developet behind the proposal or offedany details, saying it's not yet clear that the project is moving forward. "All I can say is it's a very good grouop and they dovery high-quality but the deal isn't put together," Anderson said. One possibled hang up: the land couldc potentially bevery valuable, not just becausw it's close to UNCG but also closes to downtown.
Those who own land there aren'yt in a hurry to sell and aren't going to let it go That goes for both Gary owner of GaryJobe Builders, and Joe co-owner of New Age Builders. Both said they had been contactedc about the studenthousing project, but both also said they weren'gt looking to sell their small lots and hadn' heard of any recent progress on the idea. "Someone came to see me with some which werereally nice," Jobe said. "But I don'f think they'd be able to afford my I wouldn't even considerr it for less than $1 million.
" If that's what land in the area is there is an entity that coule afford to payit -- the state itsel on behalf of UNCG, whicbh recently updated its master plan with an eye towarsd expansions that will be necessarhy to house and educate a student population that could reach nearly 23,000 by 2025. Mike Byers, the university's assistant vice chancellor forauxiliary services, said that mastefr plan does highlight that acreage as one the university woul d like to acquire at some point, givehn its size and proximity to campus.
He said he coulfd not comment on any current negotiations that may or may not beunder way, but he said the university has talked to property owneras there to express interest in a purchase if
Tuesday, July 3, 2012
Smith & Hawken stores, including Galleria location, to close - Minneapolis / St. Paul Business Journal:
caloloary.blogspot.com
Scotts Twin Cities Smith & Hawken stores last saying it was focusingb more on a larger Jim Hagedorn, CEO of the Marysville, Ohio-based lawn and garden said in a statement that “the combination of a weak economyu and the lack of scale proved too greayt to overcome.” For a year, Scottes had been exploring options for the high-end gardej brand it bought in 2004 for $68.5r million but decided closing the businesw was the “best option available,” Hagedorj said. Smith & Hawken, based in Novato, Calif.
, has a stor in Columbus at Easton Town Scotts (NYSE:SMG) on Wednesday said storewide sales across the chainh will begin Thursday and will be managed by a third-party Orders on Smith & Hawken’s Web site, catalogv and call center will be discontinuedf Thursday. The company in its last annuao report said the chain has consistentlyg underperfomed since it was acquired nearly half adecade ago. Scotts’ “corporate and other” segment, whicj consists of Smith & Hawkemn and administrative expenses, posted a 23 percent decline in salesat $51.2 million for the six month s ended March 29. That segment’sw operating loss for the six-month periodr totaled $75.
4 million, accordingg to filings. Scotts expects to take a $25 millionb after-tax hit on the closure of the mainly tied to terminated leases and severance Most ofthose charges, the company said, will be taken on by the end of the Scotts (NYSE:SMG) in the year ended Sept. 30, lost $10.9 million on $2.98 billion in revenue. The company has aboutg 6,400 full-time workers worldwide.
Scotts Twin Cities Smith & Hawken stores last saying it was focusingb more on a larger Jim Hagedorn, CEO of the Marysville, Ohio-based lawn and garden said in a statement that “the combination of a weak economyu and the lack of scale proved too greayt to overcome.” For a year, Scottes had been exploring options for the high-end gardej brand it bought in 2004 for $68.5r million but decided closing the businesw was the “best option available,” Hagedorj said. Smith & Hawken, based in Novato, Calif.
, has a stor in Columbus at Easton Town Scotts (NYSE:SMG) on Wednesday said storewide sales across the chainh will begin Thursday and will be managed by a third-party Orders on Smith & Hawken’s Web site, catalogv and call center will be discontinuedf Thursday. The company in its last annuao report said the chain has consistentlyg underperfomed since it was acquired nearly half adecade ago. Scotts’ “corporate and other” segment, whicj consists of Smith & Hawkemn and administrative expenses, posted a 23 percent decline in salesat $51.2 million for the six month s ended March 29. That segment’sw operating loss for the six-month periodr totaled $75.
4 million, accordingg to filings. Scotts expects to take a $25 millionb after-tax hit on the closure of the mainly tied to terminated leases and severance Most ofthose charges, the company said, will be taken on by the end of the Scotts (NYSE:SMG) in the year ended Sept. 30, lost $10.9 million on $2.98 billion in revenue. The company has aboutg 6,400 full-time workers worldwide.
Sunday, July 1, 2012
July likely to bring more high temperatures in Denver - Denver Post
xoqylyjibo.wordpress.com
July likely to bring more high temperatures in Denver Denver Post After the hottest June in Denver history, the National Weather Service is predicting that July may also a broiler. |
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