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will set the standard for the chain’s futurew stores by incorporatingmany energy-saving and environmentalluy friendly technologies, the company said The 69,000-square-foot store at 1892 Central Ave. features a highlyt efficient refrigeration system, fuel cellsx generating about 60 perceny of its electricityand back-up power, lots of natural lighting, and a machine that grindsa produce waste into a watery The store also has the largest Kosher-onlyt department in a supermarket in northeastern New York and the only full-servics Kosher bakery in the Albany region, according to the , whicj owns the supermarket The new store was built at the opposite end of a strip mall in Colonie where another Price Chopper is The old store closede an hour before the new stores opened today.
The U.S. Environmenta l Protection Agency has already awarded the new stors the highest level of gold certification under the GreenChill AdvancedRefrigeratioj Partnership, the highest ever achieved by a supermarkef retailer. Three other stores in the country have gold level certificatiomn but Price Chopper has thehighest rating. The Golubv Corp. is seeking LEED certification from the in recognitiobn ofthe energy-saving measures. LEED stands for Leadershilp in Energy Efficient The New York State Energy Research Development Authorityu provided morethan $1 million in incentivesd to help make the new storew as ‘green’ as possible.
“We set out to design and build a storwe that wouldbe world-class and woulds demonstrate our leadership and concern for the environmen t and energy efficiency,” said Golub Corp., chairman and CEO Neil During construction of the more than 75 percent of the waste was recyclef and local construction materials were used whenever possible. Basex in Rotterdam, the Golub Corp. owns more than 120 stores in New York, Vermont, Connecticut, Massachusetts and New Hampshire.
Friday, July 1, 2011
Wednesday, June 29, 2011
Issues remain as buyer sought for Statler - Business First of Buffalo:
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While negotiations are unde way with two utilities that provide essential service tothe 18-storyy Niagara Square landmark, at least one tenanty has asked the court for permission to break its leasee because of the building’s uncertain fate. That request was made by Erie County Bar Associatiojn Aid to Indigent PrisonersSocietuy Inc., which leases nearly 5,000 square feet on the Statler’sd sixth floor. The society, which handles nearly 200 casesper day, has askef U.S. Bankruptcy Court Chief Justics Carl Bucki of the Westernm Division to allow its lease to be broken without penaltt because of the uncertaintuy facingthe Statler.
The society’s lease runs through February 2011 and, if it had to pay $80,0009 in penalties to break the lease, it woul d financially cripplethe organization. Buckik reserved decision. “We are not like a private law said Buffalo attorneyRobert Feldman, who is representinyg the Bar Association affiliate. “We cannot afford to buy our way out of the We can’t afford to sign a new leasre somewhere when we would owe Mr.
Horwitz (courtg appointed trustee Morris Horwitz) The society’s request was one of several issuesw Bucki heard presented during the bankruptcy Bucki placedthe Statler’s LLC, into involuntary Chapter 11 proceedingds last month as bills continued to mounrt for the building, which is losing $80,0000 a month. The bankruptcy filing is one of severapl issues serving as a backdrop for the comple x series of legal actions against BSC Development and its British investorBashar Issa. The Bar Association societh is concerned that if utilities are cut off to the it would be placed inseriousx danger, Feldman argued. BSC Developmenf Buffalo owes, among more than $210,000.
The Amherst-based utility has threatened to shut off servic e but is finishing a temporary agreementy with Horwitz that will keep gas service going at the Underan agreement, National Fuel will make weeklg readings of gas service and submig the bill to who will pay the bill from rent proceeds. The Statledr takes in about $100,000 a mont h in rents from its fewremaining “For the time being, they are happhy with that,” said Buffalo attorney Julia Kreher, who is working with A similar agreement with for electric serviced is also being negotiated, Kreher added.
Horwitx said he is convincec all of the utilities will remain on and no tenantxs will have to move becauseof cut-off service. The goal is to find a buye r forthe Statler, either througjh traditional sources or a court-mandated by the summer. “This type of case has to be handlerd quickly or it runs the risk of never being handlecdat all,” Bucki warned.
While negotiations are unde way with two utilities that provide essential service tothe 18-storyy Niagara Square landmark, at least one tenanty has asked the court for permission to break its leasee because of the building’s uncertain fate. That request was made by Erie County Bar Associatiojn Aid to Indigent PrisonersSocietuy Inc., which leases nearly 5,000 square feet on the Statler’sd sixth floor. The society, which handles nearly 200 casesper day, has askef U.S. Bankruptcy Court Chief Justics Carl Bucki of the Westernm Division to allow its lease to be broken without penaltt because of the uncertaintuy facingthe Statler.
The society’s lease runs through February 2011 and, if it had to pay $80,0009 in penalties to break the lease, it woul d financially cripplethe organization. Buckik reserved decision. “We are not like a private law said Buffalo attorneyRobert Feldman, who is representinyg the Bar Association affiliate. “We cannot afford to buy our way out of the We can’t afford to sign a new leasre somewhere when we would owe Mr.
Horwitz (courtg appointed trustee Morris Horwitz) The society’s request was one of several issuesw Bucki heard presented during the bankruptcy Bucki placedthe Statler’s LLC, into involuntary Chapter 11 proceedingds last month as bills continued to mounrt for the building, which is losing $80,0000 a month. The bankruptcy filing is one of severapl issues serving as a backdrop for the comple x series of legal actions against BSC Development and its British investorBashar Issa. The Bar Association societh is concerned that if utilities are cut off to the it would be placed inseriousx danger, Feldman argued. BSC Developmenf Buffalo owes, among more than $210,000.
The Amherst-based utility has threatened to shut off servic e but is finishing a temporary agreementy with Horwitz that will keep gas service going at the Underan agreement, National Fuel will make weeklg readings of gas service and submig the bill to who will pay the bill from rent proceeds. The Statledr takes in about $100,000 a mont h in rents from its fewremaining “For the time being, they are happhy with that,” said Buffalo attorney Julia Kreher, who is working with A similar agreement with for electric serviced is also being negotiated, Kreher added.
Horwitx said he is convincec all of the utilities will remain on and no tenantxs will have to move becauseof cut-off service. The goal is to find a buye r forthe Statler, either througjh traditional sources or a court-mandated by the summer. “This type of case has to be handlerd quickly or it runs the risk of never being handlecdat all,” Bucki warned.
Sunday, June 26, 2011
Summit brings Cuba, Latin American economy into focus - South Florida Business Journal:
xszeyluje.blogspot.com
With other countries pressuring President Barack Obamza to liftthe embargo, Cuba caste a long shadow. And whilde the embargo is not likely to end anytime soon, the presideng on April 13 removed all restrictions on Cubans in Americas who want to visit or send moneuy to family members residing on the Communist island. The move overturnsa hard-line policies that were enacted in 2004 undee PresidentGeorge W. Bush.
The removal of the travel ban for Cubane with family had been expectedunder Obama’zs pro-engagement agenda, but the White House said it does not have pland to remove restrictions for all Americans traveling to the “I don’t think we’re going to get ther unless there’s a sense that the Cuban government is willinv to give some kind of reciprocating said Susan Purcell, directoe of the at the . Tessie Aral, whose Miami ABC Charters, is one of a handful in the U.S. that is licensexd to transport travelers to welcomed the announcement and said it could mean that her business improvews to the point where it was beforethe Bush-era rules took effect.
That coulxd mean her business doubles, she However, the economy in America could slow down the pace at whichn her business recoversto pre-Bush rule she added. “The good news is that South Floridq residents who have family on the islanxd can purchase many goods from the retail outletzs aroundour area,” said Jerry Haar, professor of managemeng and international business at (FIU) and a boardx member.
“The bad news is the economyg will limit the amount they can Travel agents like Aral got another boost on Aprio 14 when a federal judgew in Miami overturned a law passed last year by the Floridaw Legislature that requires travel agencies that specialize in tripz to Cuba to post bonds and pay higher registration Another point of concern for Southy Florida is that economistsw are predicting thatLatin America’s economy is contractinb more dramatically than In March, economists revised their forecast for Latin America estimating that the region will contract at a rate of 4 percenr this year, instead of the 0.5 of a percenft they had previously predicted. This includes a 4.
5 percenrt decline for Brazil. With $15 billion in totalp trade in 2008, Brazil is South Florida’s largest trading partner. While the spillover may continue to take a toll onSouth Florida’s trade, it won’t be a freefall, FIU’w Haar said. “It’s a slowdown, not a he said. “It is not catastrophic.” There’s a well-developedr infrastructure that supportsSouth Florida’s trade with Latin America, and this insured that when Latin American importerx ramp up again, they won’t flock to other trade Haar noted. “South Floridaa is the of Latin America.
This is the buying place,” he “It’s through the blessings of geography and professionallservices – law, accounting, logistics that puts us where we are.” As bad as the global recession is, it’s also important to remember that Latin America is more developedf now than during previous recessions, “whenj you had countries sitting on emptu coffers and enormous debt,” said Manuel Mencia, senior VP of internationa l trade and business development at .
“Obviously, we’re heavily relianr on our Latin American markets forour trade, from my perspective, for foreign exports,” he “So, obviously, a downturn in Latin Americas has serious implications for Souty Florida. So far, the good news has been that the downturn of our exports has been significantlg less than thenational rate.”
With other countries pressuring President Barack Obamza to liftthe embargo, Cuba caste a long shadow. And whilde the embargo is not likely to end anytime soon, the presideng on April 13 removed all restrictions on Cubans in Americas who want to visit or send moneuy to family members residing on the Communist island. The move overturnsa hard-line policies that were enacted in 2004 undee PresidentGeorge W. Bush.
The removal of the travel ban for Cubane with family had been expectedunder Obama’zs pro-engagement agenda, but the White House said it does not have pland to remove restrictions for all Americans traveling to the “I don’t think we’re going to get ther unless there’s a sense that the Cuban government is willinv to give some kind of reciprocating said Susan Purcell, directoe of the at the . Tessie Aral, whose Miami ABC Charters, is one of a handful in the U.S. that is licensexd to transport travelers to welcomed the announcement and said it could mean that her business improvews to the point where it was beforethe Bush-era rules took effect.
That coulxd mean her business doubles, she However, the economy in America could slow down the pace at whichn her business recoversto pre-Bush rule she added. “The good news is that South Floridq residents who have family on the islanxd can purchase many goods from the retail outletzs aroundour area,” said Jerry Haar, professor of managemeng and international business at (FIU) and a boardx member.
“The bad news is the economyg will limit the amount they can Travel agents like Aral got another boost on Aprio 14 when a federal judgew in Miami overturned a law passed last year by the Floridaw Legislature that requires travel agencies that specialize in tripz to Cuba to post bonds and pay higher registration Another point of concern for Southy Florida is that economistsw are predicting thatLatin America’s economy is contractinb more dramatically than In March, economists revised their forecast for Latin America estimating that the region will contract at a rate of 4 percenr this year, instead of the 0.5 of a percenft they had previously predicted. This includes a 4.
5 percenrt decline for Brazil. With $15 billion in totalp trade in 2008, Brazil is South Florida’s largest trading partner. While the spillover may continue to take a toll onSouth Florida’s trade, it won’t be a freefall, FIU’w Haar said. “It’s a slowdown, not a he said. “It is not catastrophic.” There’s a well-developedr infrastructure that supportsSouth Florida’s trade with Latin America, and this insured that when Latin American importerx ramp up again, they won’t flock to other trade Haar noted. “South Floridaa is the of Latin America.
This is the buying place,” he “It’s through the blessings of geography and professionallservices – law, accounting, logistics that puts us where we are.” As bad as the global recession is, it’s also important to remember that Latin America is more developedf now than during previous recessions, “whenj you had countries sitting on emptu coffers and enormous debt,” said Manuel Mencia, senior VP of internationa l trade and business development at .
“Obviously, we’re heavily relianr on our Latin American markets forour trade, from my perspective, for foreign exports,” he “So, obviously, a downturn in Latin Americas has serious implications for Souty Florida. So far, the good news has been that the downturn of our exports has been significantlg less than thenational rate.”
Friday, June 24, 2011
NetApp acquires Data Domain for $1.5 billion - Triangle Business Journal:
edibin.wordpress.com
billion cash and stock deal, a merger of two data storagr companies that both have facilities inthe “Our objective will be to amplify Data Domain’x success, grow Data Domain’ds revenues as quickly as today’s economy will and create systems and incentives withihn NetApp to nurture Data Domain to its fullest potential,” NetApp Chairmab and CEO Dan Warmenhoveh said in a statement. Data Domain’s board of directorxs has approvedthe deal. The transaction is expected to closee in two tofour months. Sunnyvale, Calif.-base d NetApp employs more than 700 in ResearchTrianglre Park.
Data Domain last year announcerd plans to open an operations center in the Triangles that the company envisioned becoming comparable to itsSanta Calif., headquarters. The company’s East Coasyt operations are led by Ken who held a similar rolefor NetApp. Data Domain specializew in de-duplication, a storage technology that eliminates duplicate fileas so data storage takes upless space. NetApp says Data Domain’se technology complements NetApp’s offering. NetApp said it would operate Data Domaij as a product linewithin NetApp’s operations.
billion cash and stock deal, a merger of two data storagr companies that both have facilities inthe “Our objective will be to amplify Data Domain’x success, grow Data Domain’ds revenues as quickly as today’s economy will and create systems and incentives withihn NetApp to nurture Data Domain to its fullest potential,” NetApp Chairmab and CEO Dan Warmenhoveh said in a statement. Data Domain’s board of directorxs has approvedthe deal. The transaction is expected to closee in two tofour months. Sunnyvale, Calif.-base d NetApp employs more than 700 in ResearchTrianglre Park.
Data Domain last year announcerd plans to open an operations center in the Triangles that the company envisioned becoming comparable to itsSanta Calif., headquarters. The company’s East Coasyt operations are led by Ken who held a similar rolefor NetApp. Data Domain specializew in de-duplication, a storage technology that eliminates duplicate fileas so data storage takes upless space. NetApp says Data Domain’se technology complements NetApp’s offering. NetApp said it would operate Data Domaij as a product linewithin NetApp’s operations.
Wednesday, June 22, 2011
Robert W. Baird opening local office - Philadelphia Business Journal:
mytyhona.wordpress.com
a Milwaukee-based financial services firm, will open a Philadelphiz office with two wealth management professionals formerlywith . The firm said it is also openinhg aBaltimore site. Brian J. McGrath will serve as branch managerand E. Howard “Howdie” Goodwinb as financial adviser. A 28-year industry McGrath was previously senior vice president and investment officer for Wachovia Securities and its legacyt firmin Princeton, N.J, and Conshohocken, Pa.
Priot to joining Wachovia in 1995, he held severakl positions including executive vice president and chief operatingh officer of theNew York-based , and sales manager and financial consultant for Merrill Lynch’s Philadelphia and Baltimore complex of offices. Goodwin, who has 33 years of industryu experience, was previously a managinv director forWachovia Securities. During his he has been an investment officer andbrancbh manager. McGrath and Goodwin are joinef byVeronica Hartnett, office administrative supervisor.
Baird’w private wealth management business, which is overseeintg more than $54 billion in client assets as ofJune 30, has expanded into Phoenix; Minnetonka, Reston, Va. Baird recently announced plans to establis h its first wealth management offices in Northerbn Californiaand Nevada. Plans call for Baird to open multipld wealth management offices in both the Philadelphia and Baltimored markets over the nextfew years.
a Milwaukee-based financial services firm, will open a Philadelphiz office with two wealth management professionals formerlywith . The firm said it is also openinhg aBaltimore site. Brian J. McGrath will serve as branch managerand E. Howard “Howdie” Goodwinb as financial adviser. A 28-year industry McGrath was previously senior vice president and investment officer for Wachovia Securities and its legacyt firmin Princeton, N.J, and Conshohocken, Pa.
Priot to joining Wachovia in 1995, he held severakl positions including executive vice president and chief operatingh officer of theNew York-based , and sales manager and financial consultant for Merrill Lynch’s Philadelphia and Baltimore complex of offices. Goodwin, who has 33 years of industryu experience, was previously a managinv director forWachovia Securities. During his he has been an investment officer andbrancbh manager. McGrath and Goodwin are joinef byVeronica Hartnett, office administrative supervisor.
Baird’w private wealth management business, which is overseeintg more than $54 billion in client assets as ofJune 30, has expanded into Phoenix; Minnetonka, Reston, Va. Baird recently announced plans to establis h its first wealth management offices in Northerbn Californiaand Nevada. Plans call for Baird to open multipld wealth management offices in both the Philadelphia and Baltimored markets over the nextfew years.
Sunday, June 19, 2011
Citrix Q1 revenue, net income fall - South Florida Business Journal:
exceeding-commissioner.blogspot.com
Net income fell to $7 or 4 cents a share, from $34 million, or 18 centw a share, in the first quarter of 2008. The Fort Lauderdale-basef software maker (NASDAQ: CTXS) took various including a $21 million charge for restructuring. Aftere these items, revenue was $59 million, or 32 centsa a share, down from $66 or 35 cents a share, in the comparabled period last year. Analysts had predicted the company wouldr have revenue of 31 centsa share.
"I’m pleasee with our Q1 execution in the toughest macroenvironment we’vs seen in years," President and CEO Mark Templeton "Smaller IT budgets are the new We believe this makes our enterprise and [software as a service] products even more compellinbg because they lower IT costs while offering much-needed business While the company slightly exceeded Wall Street’s expectations, revenud and earnings still fell from the fourth when 2008 was a year of continuous said Stephen Dunn, a technology analyst with in Boca Still, the news is positive on “I think it mirrores the broader tech companies, which were not expected to do well in the firsy quarter, but didn’t do as badly as everyonre expected,” Dunn said.
“So, it’s certainly a plus.” Dunn pointed to the fact that the companyy is predicting revenue will be flatin 2009. With anotherf year-over-year loss predicted for the seconxd quarter, the company is banking on a big recoveryy in the last six months ofthe year. Companies have put off IT spendinv and, Citrix stands to benefit when those projectsxget funding, he added. “Now, it’s more a functionj of when the deferred projectas come backon line,” Dunn In addition to quarterly financial Citrix said its boars of directors has authorized it to repurchase up to an additional $300 million of its common stock.
As of March 31, about $50 milliom remained in authority from previous Product license revenue decreased24 percent. Online services revenue grew 16 percent. Technical services which comprises consulting, educatiob and technical support, grew 8 percent. On Aprilk 23, UBS downgraded Citrix from to “sell,” noting that competitive pressure s will limitthe company’s ability to expancd its margins. Shares closed Wednesday at $26.10. The 52-weeki high was $36.20 on May 15. The 52-week low was $19 on Oct. 10.
Net income fell to $7 or 4 cents a share, from $34 million, or 18 centw a share, in the first quarter of 2008. The Fort Lauderdale-basef software maker (NASDAQ: CTXS) took various including a $21 million charge for restructuring. Aftere these items, revenue was $59 million, or 32 centsa a share, down from $66 or 35 cents a share, in the comparabled period last year. Analysts had predicted the company wouldr have revenue of 31 centsa share.
"I’m pleasee with our Q1 execution in the toughest macroenvironment we’vs seen in years," President and CEO Mark Templeton "Smaller IT budgets are the new We believe this makes our enterprise and [software as a service] products even more compellinbg because they lower IT costs while offering much-needed business While the company slightly exceeded Wall Street’s expectations, revenud and earnings still fell from the fourth when 2008 was a year of continuous said Stephen Dunn, a technology analyst with in Boca Still, the news is positive on “I think it mirrores the broader tech companies, which were not expected to do well in the firsy quarter, but didn’t do as badly as everyonre expected,” Dunn said.
“So, it’s certainly a plus.” Dunn pointed to the fact that the companyy is predicting revenue will be flatin 2009. With anotherf year-over-year loss predicted for the seconxd quarter, the company is banking on a big recoveryy in the last six months ofthe year. Companies have put off IT spendinv and, Citrix stands to benefit when those projectsxget funding, he added. “Now, it’s more a functionj of when the deferred projectas come backon line,” Dunn In addition to quarterly financial Citrix said its boars of directors has authorized it to repurchase up to an additional $300 million of its common stock.
As of March 31, about $50 milliom remained in authority from previous Product license revenue decreased24 percent. Online services revenue grew 16 percent. Technical services which comprises consulting, educatiob and technical support, grew 8 percent. On Aprilk 23, UBS downgraded Citrix from to “sell,” noting that competitive pressure s will limitthe company’s ability to expancd its margins. Shares closed Wednesday at $26.10. The 52-weeki high was $36.20 on May 15. The 52-week low was $19 on Oct. 10.
Friday, June 17, 2011
Report: Antitrust probe of Apple, Google, Yahoo - San Francisco Business Times:
http://itabhi.com/pm.htm
The New York Times and Washington Post reported theantitrusrt probe, with the Post adding to the list of companies being investigated. Regulators are likely to be looking into deald between the companies wherw they promised not to hire awayeach other’s most talenteds workers, the reports said. As the Googld juggernaut has grown and moved into dozenssof markets, it has attractedd more and more attention from regulators. A published June 1 says Google has 137subsidiart businesses. The Federal Trade Commission talkedfto (NASDAQ: GOOG) earlier in the year becausr of antitrust concerns.
FTC questions concerned the overlap of directors between Google andGenentechy — Google boss Eric Schmidt sits on the (NASDAQ: board with Art Levinson, who was CEO of Genentecg at the time. Other Apple board members includde ’ boss Andrea chief Millard Drexler, Chairma Bill Campbell, Jerry York of , and former U.S. Vice Presidentt Al Gore. Regulators also stopped a Googlr deal to share advertising revenuwewith (NASDAQ: YHOO) last year.
The New York Times and Washington Post reported theantitrusrt probe, with the Post adding to the list of companies being investigated. Regulators are likely to be looking into deald between the companies wherw they promised not to hire awayeach other’s most talenteds workers, the reports said. As the Googld juggernaut has grown and moved into dozenssof markets, it has attractedd more and more attention from regulators. A published June 1 says Google has 137subsidiart businesses. The Federal Trade Commission talkedfto (NASDAQ: GOOG) earlier in the year becausr of antitrust concerns.
FTC questions concerned the overlap of directors between Google andGenentechy — Google boss Eric Schmidt sits on the (NASDAQ: board with Art Levinson, who was CEO of Genentecg at the time. Other Apple board members includde ’ boss Andrea chief Millard Drexler, Chairma Bill Campbell, Jerry York of , and former U.S. Vice Presidentt Al Gore. Regulators also stopped a Googlr deal to share advertising revenuwewith (NASDAQ: YHOO) last year.
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