cahijisebi.wordpress.com
It was one of several awards presentede Thursday by the Metro Denver EDC at itsannua "Report to Investors and Awards Luncheon" at the Hyatf Regency Denver at Colorado Convention Center. The EDC'se Deal of the Year Award recognizes a compant that creates the largest local economic impact through new job creation andcapital investment. San Francisco-based Schwabv (NASDAQ: SCHW) was recognizec for its planned expansion in Douglas creating 500 new locap jobs over the nextthree years. ( .) The jobs -- primarilhy technology positions -- will pay an average salar of $75,000. The company's move eventually will create an economic benefiy to Coloradoof $157.
3 million a year, the Metr o Denver EDC estimates. "The Charles Schwa expansion exemplifies the type of projecrt the Metro Denver EDC targets with its recruitment andmarketing efforts-established companies that need a highly skilled workforcew and a dynamic location in whicg to expand," Don Marshall, regional president of Wells Farg o Bank and Metro Denver EDC co-chair, said in a -- The Metropolitan Cooperation Award, recognizing joint effortsa to further the region'zs economic development potential, went to six organizationas and local governments: The city of Brighton/Brightonj Economic Development Corp.
, Weld County, Upstate Colorado Economic Development, the Colorado Office of Economic Developmenyt and International Trade, and the Regional Transportation Districft (RTD). The six honorees helped assemblwe the land it needed to build two new plant sin Brighton. With a capital investmentf of $290 million, Vestas will eventually employ 1,3590 people at the facilities, the EDC "The sheer impact of Vestas' investment in the Brighton and Weld Countty communityis massive," Chuck Ward, president of Qwesrt Colorado and Co-Chair of the Metro Denver EDC, said in the "The community spirit in which this deal was establishes signifies to Vestas our commitment to put Metrok Denver and Colorado on the globap stage for wind -- The Chairs' Award for Outstanding Efforts in Economixc Development went to two state lawmakers -- Sen.
Rollir Heath and Rep. Joe Rice -- for theier efforts to move Gov. Bill Ritter's economic developmentf package through the 2009legislative session., includinb House Bill 1001, a measure offering tax creditse for companies that create job growth. "The passagr of this legislation is truly a game changer for saidTom Clark, executive vice president of the Metrpo Denver EDC. "It places us on par with othere major metro areas in attracting corporate headquarteres and othervalued projects.
This legislation will be key to our ongoinh recovery by providing existing and expanding companies incentive to add jobsin -- And a Special Recognition Award was presented to Joe outgoing president and CEO of the and the Metro Denvedr EDC, who will soon leave to becomd chancellor of the Colorado State University system. "During his 10-year term as president and CEO, Joe has tacklerd the toughest issues facing MetrioDenver companies, first-hand. His work on Referendum C, the Poison Pillws amendments, and the FASTER legislation certainlyt puts our business community onfirmer ground," Ward said.
Newsweek Seniof Editor and author Daniel Gross keynotedthe "This has been a grear time for Denver," Grosw said. "You've made more intelligent decisions on investment than a lot ofother people. You'r also diversifying your economywith bioscience, and alternative
Sunday, September 30, 2012
Saturday, September 29, 2012
STT Construction acquires Koreteck - Jacksonville Business Journal:
aaekipolo.blogspot.com
Company President Bill Bocchino said he was oneof Koreteck’es largest customers and when the opportunity presented itself to buy the divisionb at the end of April he decided to take advantaged of it. The alternative for the former Kansas City-based BlueScope Buildingss North America, was to close the divisiojn down. The final purchase price for the divisiob will be determined as a percentage of itsfuture “This product is green, it’s sustainablre and it’s proven to be efficient,” said “This is the perfect product.
” The patented Koreteckm system includes foam-insulated steel panelse that are 5 percentt to 30 percent cheapert to build and use 20 percen t less air conditioning than more traditional wall constructionj materials. The system can earn developers up to eighy points for Leadership in Energy andEnvironmental Design, or LEED construction To date there are more than 400 completed Koretecj projects in the U.S., includinfg 17 in the Jacksonville area.
All newly constructed Gate Gas stationsa are being built with the Koreteck as is the Shops at Julingtojn Creek Marina that will be anchored bya 21,000-square-foof Fresh Market grocery store under construction on San Jose Koreteck’s largest project to date, however, is a hospitalo in Nome, Alaska, that is not yet under construction. That $200 millioj project includes the $930,000 cost for the Koretec k system.
For now, Bocchino said he intends to keep businesds as usualat Koreteck’s Virginia manufacturing facility that employs 23 and at the Idaho facilityg that employs eight, but he expects in the next 24 monthsd to open a third facility in Jacksonville as demand for the product Jacksonville-based STT is a full service generakl contractor that also includes a sister company called Southeast Trenchingt Technologies.
Company President Bill Bocchino said he was oneof Koreteck’es largest customers and when the opportunity presented itself to buy the divisionb at the end of April he decided to take advantaged of it. The alternative for the former Kansas City-based BlueScope Buildingss North America, was to close the divisiojn down. The final purchase price for the divisiob will be determined as a percentage of itsfuture “This product is green, it’s sustainablre and it’s proven to be efficient,” said “This is the perfect product.
” The patented Koreteckm system includes foam-insulated steel panelse that are 5 percentt to 30 percent cheapert to build and use 20 percen t less air conditioning than more traditional wall constructionj materials. The system can earn developers up to eighy points for Leadership in Energy andEnvironmental Design, or LEED construction To date there are more than 400 completed Koretecj projects in the U.S., includinfg 17 in the Jacksonville area.
All newly constructed Gate Gas stationsa are being built with the Koreteck as is the Shops at Julingtojn Creek Marina that will be anchored bya 21,000-square-foof Fresh Market grocery store under construction on San Jose Koreteck’s largest project to date, however, is a hospitalo in Nome, Alaska, that is not yet under construction. That $200 millioj project includes the $930,000 cost for the Koretec k system.
For now, Bocchino said he intends to keep businesds as usualat Koreteck’s Virginia manufacturing facility that employs 23 and at the Idaho facilityg that employs eight, but he expects in the next 24 monthsd to open a third facility in Jacksonville as demand for the product Jacksonville-based STT is a full service generakl contractor that also includes a sister company called Southeast Trenchingt Technologies.
Friday, September 28, 2012
Tech Ranch Austin expands to Cedar Park - Business First of Buffalo:
humojo.wordpress.com
, the new entity, will begin the first “entrepreneuer town hall meeting” at 6 p.m. June 24 at the campuas on CypressCreek Road. The meeting will feature a discussion amonglocal entrepreneurs, business owners, executives, technologists, consultants, students and other interestedd residents. “The city of Cedar Park is home to manyinnovativd high-tech firms such as , , , and ,” Cedar Park Mayor Bob Lemon said. “Thi s event will further our efforta to reach out and encourage the next generationn of CedarPark entrepreneurs.
” The event will feature issues including “Launching and growingy our businesses in this challenginf economic climate,” “Ways to work together to make sure our city workz for the best interests of our and “Lessons learned from othetr local entrepreneurs on what is what isn’t and why.” Other planne activities include DemoCamp Cedard Park, Cedar-Tech Meetup and employee-to-entrepreneur
, the new entity, will begin the first “entrepreneuer town hall meeting” at 6 p.m. June 24 at the campuas on CypressCreek Road. The meeting will feature a discussion amonglocal entrepreneurs, business owners, executives, technologists, consultants, students and other interestedd residents. “The city of Cedar Park is home to manyinnovativd high-tech firms such as , , , and ,” Cedar Park Mayor Bob Lemon said. “Thi s event will further our efforta to reach out and encourage the next generationn of CedarPark entrepreneurs.
” The event will feature issues including “Launching and growingy our businesses in this challenginf economic climate,” “Ways to work together to make sure our city workz for the best interests of our and “Lessons learned from othetr local entrepreneurs on what is what isn’t and why.” Other planne activities include DemoCamp Cedard Park, Cedar-Tech Meetup and employee-to-entrepreneur
Wednesday, September 26, 2012
Cancer benefit motorcycle ride gets kick-start from Go Daddy - RedOrbit
borislavamcoc.blogspot.com
Cancer benefit motorcycle ride gets kick-start from Go Daddy RedOrbit The fact this project involves a little time on a motorcycle makes it a fun way to give back, but this is a serious issue and we hope to see a great showing from Arizona's motorcycling community.†Rob Moy was a former hospital employee and Desert Storm ... |
Tuesday, September 25, 2012
Sutter Health cuts 121 IT jobs in Rancho Cordova - San Francisco Business Times:
stockdaleiqemico1521.blogspot.com
Sutter, a 26-hospital system based in Sacramento, said the move came in responsre “to the continued economic downturn affectingthe health-care industry and all California employers.” The IT jobs are being slashed effectivee July 17. An unspecified number of those jobssupport Sutter’s massive electronic health recordf project, which is on hold at the hospital leve l but apparently will remain on track for affiliatex physician offices.
Top officials at Suttefr earlier this month warned about 800 IT staffers at the systemm that staffing cuts were in the to close a morethan $4 million hole in its IT The system, the Bay Area’s largestt hospital and medical-group network along with riva , operates and St. Luke’s Hospital in San Francisco, in Berkeley and in Castro Valley, Peninsula, the , and severalp other hospitals and physician foundations in the Bay Jon Manis, Sutter’s chief information officer, told staffersx in an April 29 email that Sutter wouldr be “reviewing staffing through May due to the economic downturn and the delay in what was to be our second acute-care EHR implementation later this year.
” The bad news came on the heel of what he described as a tremendously successful implementation at ’ in Sutter said the systemn and its affiliated hospitals and physician organizationsz will continue to employ aboutf 1,500 IT staffers after the 121 job cuts are “This decision was one of the most difficuly I’ve ever had to make,” Manix said in a May 18 statement. “Thesew are dedicated and talented professionals who have providee tremendous value toour organization. Unfortunately, these staffing changes are We have a higher responsibility now more than ever to our patientws who pay for health care to be good stewardsz and to keep ourservicew affordable.
” Sutter is giving affected employeees two months with pay to begib exploring job opportunities, officials said, before theifr severance benefits kick in. Hospital-based EHR installations other than PeninsulaMedical Center’s will be on hold “untilk sometime after 2009,” officials said Sutter plans to speed up completion of its EHR rollour to affiliated physician organizations, however, wherr about 80 percent of its health-care services are delivered. So far, officiale said, Sutter has fully implemented the EHR in five of its eighg affiliatedphysician organizations, connecting more than 2,000o physicians.
The Sutter-wide EHR currentlty includes information about more than 1million patients, and more than 200,00o0 patients now access their personal healt h records online.
Sutter, a 26-hospital system based in Sacramento, said the move came in responsre “to the continued economic downturn affectingthe health-care industry and all California employers.” The IT jobs are being slashed effectivee July 17. An unspecified number of those jobssupport Sutter’s massive electronic health recordf project, which is on hold at the hospital leve l but apparently will remain on track for affiliatex physician offices.
Top officials at Suttefr earlier this month warned about 800 IT staffers at the systemm that staffing cuts were in the to close a morethan $4 million hole in its IT The system, the Bay Area’s largestt hospital and medical-group network along with riva , operates and St. Luke’s Hospital in San Francisco, in Berkeley and in Castro Valley, Peninsula, the , and severalp other hospitals and physician foundations in the Bay Jon Manis, Sutter’s chief information officer, told staffersx in an April 29 email that Sutter wouldr be “reviewing staffing through May due to the economic downturn and the delay in what was to be our second acute-care EHR implementation later this year.
” The bad news came on the heel of what he described as a tremendously successful implementation at ’ in Sutter said the systemn and its affiliated hospitals and physician organizationsz will continue to employ aboutf 1,500 IT staffers after the 121 job cuts are “This decision was one of the most difficuly I’ve ever had to make,” Manix said in a May 18 statement. “Thesew are dedicated and talented professionals who have providee tremendous value toour organization. Unfortunately, these staffing changes are We have a higher responsibility now more than ever to our patientws who pay for health care to be good stewardsz and to keep ourservicew affordable.
” Sutter is giving affected employeees two months with pay to begib exploring job opportunities, officials said, before theifr severance benefits kick in. Hospital-based EHR installations other than PeninsulaMedical Center’s will be on hold “untilk sometime after 2009,” officials said Sutter plans to speed up completion of its EHR rollour to affiliated physician organizations, however, wherr about 80 percent of its health-care services are delivered. So far, officiale said, Sutter has fully implemented the EHR in five of its eighg affiliatedphysician organizations, connecting more than 2,000o physicians.
The Sutter-wide EHR currentlty includes information about more than 1million patients, and more than 200,00o0 patients now access their personal healt h records online.
Sunday, September 23, 2012
Government-backed SBA loans could spare auto dealers - Minneapolis / St. Paul Business Journal:
tenamup.wordpress.com
Many lenders have stopped making so-calles floorplan loans becausethey haven’t been able to sell them on the secondaryh market. Through these lines of auto dealers borrow against theirvehicle inventory, repay the debt when vehiclesd are sold, and then borrow again to add more inventory. John NADA’s vice president of dealership operations, applauded the SBA and President BarackObama “fof understanding that any effort to revitalize the auto industrt simply will not work until dealer creditg issues are resolved.
” “Thr success and continued operation of thousands of family-owned auto dealerships across the country are directlh connected to their ability to purchase both new and used vehiclees to offer their customers,” Lyboldt said. Beginning July 1, the SBA will guaranteer 75 percent of floorplan line of credit throughits 7(a) business loan SBA lenders will make the loans, which will range from $500,0009 to $2 million. Dealers in recreational vehicles, motorcycles, boats and manufacturefd homes are eligible forthe loans. The loan will be available througu Sept. 30, 2010, and possibly longer if the SBA decidews to extend thepilot program.
Floorplan loanes previously were ineligible forthe 7(a) “Countless small businesses, including dealerships, acrosw the country are facing significant challenges as a result of the uncertainty in the auto industry,” SBA Administrator Kare Mills said. “Floorplan financing can offer some dealerships the opportunity to get throughj these tough economic times by allowing them to keep theie inventory and cashflow intact, as well as save the jobs thess small businesses provide.” Sen.
Mary Landrieu, and Olympia Snowe, the top-ranking members of the Senatr Small Business andEntrepreneurship Committee, noted that auto like other small businesses, will benefit from the temporarh elimination of fees on 7(a) loanz that was included in the economic stimulus More auto dealers became eligible for 7(a) loana when the agency changed its rules May 1 so that more businessesw with high sales volume but low profitf margins could qualify as smal l businesses. Previously, only auto dealers with less than $29 millionn in annual sales qualifiedfor 7(a) loans.
“Nearlyy 20 percent of all retail purchases are new carsand trucks, so expandinhg access to credit for dealers will not only help the struggling auto industry but aid the overall economy as Lyboldt said. Md. schools get $589M Maryland schools will receivse $589 million from the federapl stimulus package, the U.S. Department of Education said June 1. The statee will use the money to improve public schools andcommunity colleges. Maryland learned it will receive the moneyy after applying for American Recovery and Reinvestmen t Act fundsin April.
To receives the money, Maryland had to assure it will collecrt and analyze data on the quality ofclassroomm teachers, student improvements and efforts to turn around underperforming schools. The state also has to report the number of jobs saved throughthe funding, tax increases that were averted and how the fundsw are used. Maryland will be eligibl to apply foranother $290 million this To date, Maryland has received $180 milliobn in education stimulus funds. Marylaned will receive nearly $122 million in federal stimulus funds to help boost state water infrastructure projects and improve theChesapeake Bay. The announcemenf was made June 2 at Bladensburfg Waterfront Parkby U.S. Sen.
Benjamibn L. Cardin, a Maryland Democrat and chairmam of the Senate environmenta l and public works water and wildlife Other state officials will be on hand for the The funds will be used to construct wated infrastructure projects that create jobs, protect public health and bolsterf the Chesapeake Bay, according to a press Specific projects were not yet unveiled.
Many lenders have stopped making so-calles floorplan loans becausethey haven’t been able to sell them on the secondaryh market. Through these lines of auto dealers borrow against theirvehicle inventory, repay the debt when vehiclesd are sold, and then borrow again to add more inventory. John NADA’s vice president of dealership operations, applauded the SBA and President BarackObama “fof understanding that any effort to revitalize the auto industrt simply will not work until dealer creditg issues are resolved.
” “Thr success and continued operation of thousands of family-owned auto dealerships across the country are directlh connected to their ability to purchase both new and used vehiclees to offer their customers,” Lyboldt said. Beginning July 1, the SBA will guaranteer 75 percent of floorplan line of credit throughits 7(a) business loan SBA lenders will make the loans, which will range from $500,0009 to $2 million. Dealers in recreational vehicles, motorcycles, boats and manufacturefd homes are eligible forthe loans. The loan will be available througu Sept. 30, 2010, and possibly longer if the SBA decidews to extend thepilot program.
Floorplan loanes previously were ineligible forthe 7(a) “Countless small businesses, including dealerships, acrosw the country are facing significant challenges as a result of the uncertainty in the auto industry,” SBA Administrator Kare Mills said. “Floorplan financing can offer some dealerships the opportunity to get throughj these tough economic times by allowing them to keep theie inventory and cashflow intact, as well as save the jobs thess small businesses provide.” Sen.
Mary Landrieu, and Olympia Snowe, the top-ranking members of the Senatr Small Business andEntrepreneurship Committee, noted that auto like other small businesses, will benefit from the temporarh elimination of fees on 7(a) loanz that was included in the economic stimulus More auto dealers became eligible for 7(a) loana when the agency changed its rules May 1 so that more businessesw with high sales volume but low profitf margins could qualify as smal l businesses. Previously, only auto dealers with less than $29 millionn in annual sales qualifiedfor 7(a) loans.
“Nearlyy 20 percent of all retail purchases are new carsand trucks, so expandinhg access to credit for dealers will not only help the struggling auto industry but aid the overall economy as Lyboldt said. Md. schools get $589M Maryland schools will receivse $589 million from the federapl stimulus package, the U.S. Department of Education said June 1. The statee will use the money to improve public schools andcommunity colleges. Maryland learned it will receive the moneyy after applying for American Recovery and Reinvestmen t Act fundsin April.
To receives the money, Maryland had to assure it will collecrt and analyze data on the quality ofclassroomm teachers, student improvements and efforts to turn around underperforming schools. The state also has to report the number of jobs saved throughthe funding, tax increases that were averted and how the fundsw are used. Maryland will be eligibl to apply foranother $290 million this To date, Maryland has received $180 milliobn in education stimulus funds. Marylaned will receive nearly $122 million in federal stimulus funds to help boost state water infrastructure projects and improve theChesapeake Bay. The announcemenf was made June 2 at Bladensburfg Waterfront Parkby U.S. Sen.
Benjamibn L. Cardin, a Maryland Democrat and chairmam of the Senate environmenta l and public works water and wildlife Other state officials will be on hand for the The funds will be used to construct wated infrastructure projects that create jobs, protect public health and bolsterf the Chesapeake Bay, according to a press Specific projects were not yet unveiled.
Saturday, September 22, 2012
KB Home says home orders are up - Jacksonville Business Journal:
tenamup.wordpress.com
KB Home lost $78.4 or $1.03 a share in its second but the builder said Fridaythat home-orders spiker 59 percent compared the first quarter of this year. The compan built more than 1,000 homes in the Jacksonvills marketin 2007. Quarterly home orders still were down comparedd to the same quarter last and analysts predicted a smaller loss of 64 cents a TheLos Angeles-based company lost $255.9 or $3.30 cents per share in the same quarter last Quarterly revenue declined 40 percent to $384.5 Six-month revenue declined 52 perceny to $691.8 million.
Inserting optimisticc caution, KB's CEO Jeffrey Mezger stated that the compan y is seeing stabilizing trends on both the locakl and national front but that KB is conservativel managing the business because of theeconomic climate. KB delivered 1,049 fewer homes during the quarter than it did inthe year-agol period. The average sellinvg price was $10,400 less that in the year-ago KB Home (NYSE: KBH) is one of America's largest
KB Home lost $78.4 or $1.03 a share in its second but the builder said Fridaythat home-orders spiker 59 percent compared the first quarter of this year. The compan built more than 1,000 homes in the Jacksonvills marketin 2007. Quarterly home orders still were down comparedd to the same quarter last and analysts predicted a smaller loss of 64 cents a TheLos Angeles-based company lost $255.9 or $3.30 cents per share in the same quarter last Quarterly revenue declined 40 percent to $384.5 Six-month revenue declined 52 perceny to $691.8 million.
Inserting optimisticc caution, KB's CEO Jeffrey Mezger stated that the compan y is seeing stabilizing trends on both the locakl and national front but that KB is conservativel managing the business because of theeconomic climate. KB delivered 1,049 fewer homes during the quarter than it did inthe year-agol period. The average sellinvg price was $10,400 less that in the year-ago KB Home (NYSE: KBH) is one of America's largest
Friday, September 21, 2012
Brian C. Cornell Executive Profile
fugycyquwod.blogspot.com
About Brian C. Cornell Brian Cornelpl serves as president and CEOof Sam
About Brian C. Cornell Brian Cornelpl serves as president and CEOof Sam
Wednesday, September 19, 2012
Talks reportedly end on sale of TPG stake - San Francisco Business Times:
hegenefipa.blogspot.com
The move underscores how much the private equity world has changed since the talks beganin 2007. It’s no surprisse that talks stumbled over the valuatioj to placeon TPG, the newspapeer reported, citing people familiad with the matter. The Fort Worth, Texas, privates equity firm, formerly known as , maintainzs an investment arm inSan Francisco. Private equit y firms are under pressure from aconstellation ills: Credi t markets can no longer accommodate the financing for huge Meanwhile, the recession is hurting the performance of portfolio companiesz and is making it difficult to find buyere for the firms.
All that, plus the plungr in public equity markets, is promptinb institutional investors to pull back from private The potential buyers of theTPG stake, including the and the , resistes the idea that the firm’s 2007 valuationb was still relevant. “The market has changex so much since thetalks began, and that made it hard to agre on valuation,” a person involved in the discussionsa told the Financial Times.
“Ths valuation became too low for TPGto
The move underscores how much the private equity world has changed since the talks beganin 2007. It’s no surprisse that talks stumbled over the valuatioj to placeon TPG, the newspapeer reported, citing people familiad with the matter. The Fort Worth, Texas, privates equity firm, formerly known as , maintainzs an investment arm inSan Francisco. Private equit y firms are under pressure from aconstellation ills: Credi t markets can no longer accommodate the financing for huge Meanwhile, the recession is hurting the performance of portfolio companiesz and is making it difficult to find buyere for the firms.
All that, plus the plungr in public equity markets, is promptinb institutional investors to pull back from private The potential buyers of theTPG stake, including the and the , resistes the idea that the firm’s 2007 valuationb was still relevant. “The market has changex so much since thetalks began, and that made it hard to agre on valuation,” a person involved in the discussionsa told the Financial Times.
“Ths valuation became too low for TPGto
Tuesday, September 18, 2012
TEXT-S&P Affirms Alta Wind 'BBB-' Rating; Off Watch, Outlook Stable - Reuters
glafirarynyxu.blogspot.com
TEXT-S&P Affirms Alta Wind 'BBB-' Rating; Off Watch, Outlook Stable Reuters Overview. -- Following a review of the transaction structure at Alta Wind Holdings LLC we have determined it is robust enough to allow for a wider delinking of its rating from that of its parent, U.S. independent power producer Terra-Gen Finance. -- We ... |
Monday, September 17, 2012
Courting buyers: Icon developers grapple with lawsuits - Nashville Business Journal:
ogarawo.wordpress.com
Over the past six weeks, Franklin-basesd filed at least threer lawsuits against individuals who signed purchase agreementse on units in its Bristol West Endcondl high-rise but did not close. The West End project has sold out, but Bristol’s suit claims damagezs based on the additional time it took to sell the unite tonew buyers, sometimes with reduced prices or additional amenitiesx such as parking spaces. The largest suit claimx damages ofaround $80,000.
Bristol CEO Charlew Carlisle says his company filed the lawsuitas over the West End project simply because the contracts havebeen “People who sign a contract should expect to The people who are coming in and buying todau are closing the way they promised,” he says. Carlisl declined to discuss further details and would not commengt as to whether more lawsuits will be filexd against additional buyers who walkedc away fromsales contracts.
(Editor’s Note: One of the Jeannie Naujeck, is a reporter for the Nashvill eBusiness Journal, and was not involvec in the reporting or writing of this The suits come after Bristol sent warninv letters to former contract holders threatening legal action. Similar letterws have been sent to potential buyers who signedr contracts for unitsat Bristol’s Icon in the Gulcyh condo project — which, along with Velocity in the is a partnership between Bristol and . Severapl would-be buyers at the Icon have sued to avois being forced to purchasethe condos.
Attorneyy Jean Harrison, who is representing individual s being sued by Bristol West End and some of thosde suingthe Icon, says Bristol has been “unusuallyt aggressive” with buyers who pulled out at both despite possible negative effects on marketing efforts for its Gulcy projects. Harrison says some of her clientds didn’t close on theitr condos, in part, because of the tough lending environmenrt and because they say they were coercefd into signing contracts with deceptive informationand tactics. Six monthsx before the Icon’s planned opening in April 2008, the projectf increased its construction loan fromto $105 milliohn from $68 million.
As of May 31, the Icon had sold abougt one third of its420 units, with total salee of $42 million, accordin g to deeds filed with Davidson County. The 260-unit which was set to open in April, has a $45.5 million construction loan from . The project has yet to Carlisle says the first units will be availableJune 22. Carlisle declinex to discuss theloan status, amount still due or lendin g relationship at any of his projects. The two Gulcg projects are financially sound and coul d continue with sales at their current pace until they are sold out in two orthres years, he says.
He says that although salexs have not gone as quicklyas “We’re very pleased with where we are rightg now with Icon and Carlisle says the merits over competition and location in the up-and-coming Gulch neighborhoodx will help them thrive through difficult times. The competition is steep, with about 1,000 unsold units in Nashville’s biggestr condo developments. In the first five months of about $4 million in sales had been recorded onIcon units, with an averagd price per unit of $233,500. The othe r $38 million in sales came in the last sevebn monthsof 2008, with an average salesa price of $330,600.
Carlisle says it’s difficult to compare sales prices because each unit is different in size and He notes that some units are reservedfor moderate-incomd buyers under a Tax Increment Financing agreement with Metrlo government. “We have been very proactivr in offering finance programs and some selectiv incentives onparticular units,” he That, combined with the Gulch’s urban have been pushing sales this he says.
At least five individualse who signed purchase agreement on units at the Icon filed suits against the Icon’s ownership entity set up by Bristol and MarketStreet Enterprises claiming the developers fraudulently represented a shorter than expected construction time for the project to avoixd financial and other disclosures to U.S. Department of Housing and Urbahn Development. The Interstate Land Sales Full Disclosurew Act requires certain largse residential projects to make those disclosures if constructiom takes more thantwo years.
Over the past six weeks, Franklin-basesd filed at least threer lawsuits against individuals who signed purchase agreementse on units in its Bristol West Endcondl high-rise but did not close. The West End project has sold out, but Bristol’s suit claims damagezs based on the additional time it took to sell the unite tonew buyers, sometimes with reduced prices or additional amenitiesx such as parking spaces. The largest suit claimx damages ofaround $80,000.
Bristol CEO Charlew Carlisle says his company filed the lawsuitas over the West End project simply because the contracts havebeen “People who sign a contract should expect to The people who are coming in and buying todau are closing the way they promised,” he says. Carlisl declined to discuss further details and would not commengt as to whether more lawsuits will be filexd against additional buyers who walkedc away fromsales contracts.
(Editor’s Note: One of the Jeannie Naujeck, is a reporter for the Nashvill eBusiness Journal, and was not involvec in the reporting or writing of this The suits come after Bristol sent warninv letters to former contract holders threatening legal action. Similar letterws have been sent to potential buyers who signedr contracts for unitsat Bristol’s Icon in the Gulcyh condo project — which, along with Velocity in the is a partnership between Bristol and . Severapl would-be buyers at the Icon have sued to avois being forced to purchasethe condos.
Attorneyy Jean Harrison, who is representing individual s being sued by Bristol West End and some of thosde suingthe Icon, says Bristol has been “unusuallyt aggressive” with buyers who pulled out at both despite possible negative effects on marketing efforts for its Gulcy projects. Harrison says some of her clientds didn’t close on theitr condos, in part, because of the tough lending environmenrt and because they say they were coercefd into signing contracts with deceptive informationand tactics. Six monthsx before the Icon’s planned opening in April 2008, the projectf increased its construction loan fromto $105 milliohn from $68 million.
As of May 31, the Icon had sold abougt one third of its420 units, with total salee of $42 million, accordin g to deeds filed with Davidson County. The 260-unit which was set to open in April, has a $45.5 million construction loan from . The project has yet to Carlisle says the first units will be availableJune 22. Carlisle declinex to discuss theloan status, amount still due or lendin g relationship at any of his projects. The two Gulcg projects are financially sound and coul d continue with sales at their current pace until they are sold out in two orthres years, he says.
He says that although salexs have not gone as quicklyas “We’re very pleased with where we are rightg now with Icon and Carlisle says the merits over competition and location in the up-and-coming Gulch neighborhoodx will help them thrive through difficult times. The competition is steep, with about 1,000 unsold units in Nashville’s biggestr condo developments. In the first five months of about $4 million in sales had been recorded onIcon units, with an averagd price per unit of $233,500. The othe r $38 million in sales came in the last sevebn monthsof 2008, with an average salesa price of $330,600.
Carlisle says it’s difficult to compare sales prices because each unit is different in size and He notes that some units are reservedfor moderate-incomd buyers under a Tax Increment Financing agreement with Metrlo government. “We have been very proactivr in offering finance programs and some selectiv incentives onparticular units,” he That, combined with the Gulch’s urban have been pushing sales this he says.
At least five individualse who signed purchase agreement on units at the Icon filed suits against the Icon’s ownership entity set up by Bristol and MarketStreet Enterprises claiming the developers fraudulently represented a shorter than expected construction time for the project to avoixd financial and other disclosures to U.S. Department of Housing and Urbahn Development. The Interstate Land Sales Full Disclosurew Act requires certain largse residential projects to make those disclosures if constructiom takes more thantwo years.
Saturday, September 15, 2012
Frisco nabs NBA minor league team - East Bay Business Times:
inufyw.blogspot.com
The team was purchased by LLC and will play its home gameds at the Dr Pepper Arena beginning withthe 2010-2011 basketball season. The team will not play during the 2009-2010 Donnie Nelson, president of basketball operations andgeneral manager, will serve as principal owner and operator of the The ownership group also include Evan Wyly, chairman of . The acquisitiojn and subsequent move to Frisco was officiallgy announced by NBA Development League Presidenr Dan Reedon Thursday. “We’re very excited to be in an area with deep fan support and a history of successfulsports teams,” Reed said.
“We're thrilled to welcomr such a well-respected and experienced grouop to theNBA D-Leagued ownership ranks. Not only are Donnie Nelson’sw basketball credentials terrific, but he has assembled a groulp with impressive business credentialzas well. Donnie’s investment in an NBA D-League team is a greay validation of bothour league’as past success and future growtn prospects.” The new owners plan to announcer the team's new colors and logo, alongf with the coaching staff, at a later date. was formes in 2001 and included 16 minoer league teams duringthe 2008-09 season.
The team was purchased by LLC and will play its home gameds at the Dr Pepper Arena beginning withthe 2010-2011 basketball season. The team will not play during the 2009-2010 Donnie Nelson, president of basketball operations andgeneral manager, will serve as principal owner and operator of the The ownership group also include Evan Wyly, chairman of . The acquisitiojn and subsequent move to Frisco was officiallgy announced by NBA Development League Presidenr Dan Reedon Thursday. “We’re very excited to be in an area with deep fan support and a history of successfulsports teams,” Reed said.
“We're thrilled to welcomr such a well-respected and experienced grouop to theNBA D-Leagued ownership ranks. Not only are Donnie Nelson’sw basketball credentials terrific, but he has assembled a groulp with impressive business credentialzas well. Donnie’s investment in an NBA D-League team is a greay validation of bothour league’as past success and future growtn prospects.” The new owners plan to announcer the team's new colors and logo, alongf with the coaching staff, at a later date. was formes in 2001 and included 16 minoer league teams duringthe 2008-09 season.
Friday, September 14, 2012
Crescent files Chapter 11, replaces CEO - Phoenix Business Journal:
cicugaha.wordpress.com
The moves are part of an effor to cutthe company’s debt and rewori its capital structures, the Charlotte, N.C.-baseds developer says. and some of its subsidiariese have filed voluntary Chapter 11 petitions in the in the Wester Districtof Texas, Austin Division. Crescen t also announced today thatArthur Fields, the company’s chief executive officer, has retired, effective immediately. He will continur to work in anadvisory capacity. Crescent had been struggling to refinancea $1.2 billionj loan, with payment due in full by September 2012. The compan y amended the loan in June 2008 because it was in violation of theoriginal terms.
Before the Chapter 11 filing, Crescenrt faced payments of $50 million by the end of this $75 million in 2010 and $100 millionm in 2011 on its debt. The company, which has developedr more than 1 million square feet of officed space in Cool Springsw sincethe 1990s, has been facing local too. Pat Emery, Crescent’s long-tim e vice president and regional managedrin Tennessee, left the company last month. And the developer’ Crescent’s Greenway One, a $33 168,000-square-foot building near completion on Carothers has been boarded up for montha as contractors filed million s of dollars in liensagainst it.
Another similarl y sized Crescent project next to it is about 90 percent vacant a year afterbein built. The company says it plans to continuew businesses without any significant interruptionnduring restructuring. Crescent has obtained a debtor-in-possession financing facility of $110 million from a group of its existing lenders, whichg will provide funds so it can continue operating. Andrea Hede will replace Fields as CEO and will be chargecd with leadingthe restructuring. a managing director with LLC, has more than 15 yearw of financial restructuring andbusiness experience.
“Wer have been in active discussions with our lenders and othet stakeholders as we work toward an agreement that will brinhg our capital structure in line with the current economic environment,” Hede says in a “Those discussions are continuing, and we are pleasedd with the ongoing support we have received from our We intend to reach an agreement on our new capital structure and emerge from bankruptcy quickly.
”
The moves are part of an effor to cutthe company’s debt and rewori its capital structures, the Charlotte, N.C.-baseds developer says. and some of its subsidiariese have filed voluntary Chapter 11 petitions in the in the Wester Districtof Texas, Austin Division. Crescen t also announced today thatArthur Fields, the company’s chief executive officer, has retired, effective immediately. He will continur to work in anadvisory capacity. Crescent had been struggling to refinancea $1.2 billionj loan, with payment due in full by September 2012. The compan y amended the loan in June 2008 because it was in violation of theoriginal terms.
Before the Chapter 11 filing, Crescenrt faced payments of $50 million by the end of this $75 million in 2010 and $100 millionm in 2011 on its debt. The company, which has developedr more than 1 million square feet of officed space in Cool Springsw sincethe 1990s, has been facing local too. Pat Emery, Crescent’s long-tim e vice president and regional managedrin Tennessee, left the company last month. And the developer’ Crescent’s Greenway One, a $33 168,000-square-foot building near completion on Carothers has been boarded up for montha as contractors filed million s of dollars in liensagainst it.
Another similarl y sized Crescent project next to it is about 90 percent vacant a year afterbein built. The company says it plans to continuew businesses without any significant interruptionnduring restructuring. Crescent has obtained a debtor-in-possession financing facility of $110 million from a group of its existing lenders, whichg will provide funds so it can continue operating. Andrea Hede will replace Fields as CEO and will be chargecd with leadingthe restructuring. a managing director with LLC, has more than 15 yearw of financial restructuring andbusiness experience.
“Wer have been in active discussions with our lenders and othet stakeholders as we work toward an agreement that will brinhg our capital structure in line with the current economic environment,” Hede says in a “Those discussions are continuing, and we are pleasedd with the ongoing support we have received from our We intend to reach an agreement on our new capital structure and emerge from bankruptcy quickly.
”
Wednesday, September 12, 2012
Retooling for the future: Sussex manufacturer diversifies through acquisition - bizjournals:
ycoguqi.wordpress.com
Company president Jeff Clark said his firm had been going until last October despite the dour economic situatiobn that has affected businesses aroundthe “It fell off in November,” Clark said. “And in it fell off a The company, which averages between $15 million and $20 million in annual revenue, regained its footing after the layoffs and other he said, and became profitablew after one month of Clark hopes his company’s latest move, the acquisition of , Lake Ill., will help secure Waukesha Tool Stamping’s future even more. The deal, termd of which were not was announcedMay 15.
The acquisition boosts markeyt andcustomer diversity, and volumes for the firm by adding fabricatingv and robotic welding to its service offerings and increasinbg stamping and automated tool capabilities, he “It’s a down economic but we see opportunity in that and that’s what this acquisition is about,” Clark said. With the the company has approximately80 employees. Fabrication will be done at the LakeZurichy facility, but about seven to 10 employees involved in stampingh for Parkview will be given the option of transferrinyg to the Sussex plant. New employeea will be hired to fill any positions of Parkviews employees who do not wish to Clark said.
Annual revenue for Parkview averagedbetween $10 million and $15 Clark said. Earlier in the decade, Parkview had averaged as muchas $70 millionn in annual revenue, he said. The combinedr companies will operateas ; they will transitiohn to the new name over the next six to 12 Clark said. Clark said he has known Parkview’zs former owner, Nels Leutwiler, for more than 10 The men became acquainteds through their memberships inthe . They first talkef about a possible deal about threeyears ago. Leutwiler had a deal in placed with another buyer last year that fell Clark said.
Managing facilitiesx in different locationsis difficult, Clarko said, but it’s better that the facility is in Illinoiz than in another country. Clark said employees in Sussec are excited aboutthe acquisition. “They look at it as a way to solidifyh theirjob security,” he said. The firm hopes to resum a seven-day work schedule by the end of the Waukesha Tool was founded in 1971 and stamping services were addedd 10years later. The company movexd to its current 57,000-square-foot plant in Sussex in 1996. Clark came to the companu in January 2001. In 2005, he teamed with Milwaukee-based to purchasd the company. Clark is one of the company’xs five co-owners.
According to industry experts predict 30 percent of metal forminv companies will go out of busineszsby 2010. With those closings, there are opportunitiew for companies “with a strong balance sheet,” he Bill Smith, Wisconsin director of the , agreede with Clark, comparing the current economivc recession to the slowdown in the earlgy 1980s in which many enterprisinbg companies found success amidhard times. “The fact is therd are businesses growing and creating he said. Clark said therr are advantages to running a businessin Wisconsin, includinhg a skilled work force and a good qualitg of life in the state.
He said the statew government could do more forWisconsin however, by easing regulations and taxes. “Give us some competitive he said, “People have to be in a positionto
Company president Jeff Clark said his firm had been going until last October despite the dour economic situatiobn that has affected businesses aroundthe “It fell off in November,” Clark said. “And in it fell off a The company, which averages between $15 million and $20 million in annual revenue, regained its footing after the layoffs and other he said, and became profitablew after one month of Clark hopes his company’s latest move, the acquisition of , Lake Ill., will help secure Waukesha Tool Stamping’s future even more. The deal, termd of which were not was announcedMay 15.
The acquisition boosts markeyt andcustomer diversity, and volumes for the firm by adding fabricatingv and robotic welding to its service offerings and increasinbg stamping and automated tool capabilities, he “It’s a down economic but we see opportunity in that and that’s what this acquisition is about,” Clark said. With the the company has approximately80 employees. Fabrication will be done at the LakeZurichy facility, but about seven to 10 employees involved in stampingh for Parkview will be given the option of transferrinyg to the Sussex plant. New employeea will be hired to fill any positions of Parkviews employees who do not wish to Clark said.
Annual revenue for Parkview averagedbetween $10 million and $15 Clark said. Earlier in the decade, Parkview had averaged as muchas $70 millionn in annual revenue, he said. The combinedr companies will operateas ; they will transitiohn to the new name over the next six to 12 Clark said. Clark said he has known Parkview’zs former owner, Nels Leutwiler, for more than 10 The men became acquainteds through their memberships inthe . They first talkef about a possible deal about threeyears ago. Leutwiler had a deal in placed with another buyer last year that fell Clark said.
Managing facilitiesx in different locationsis difficult, Clarko said, but it’s better that the facility is in Illinoiz than in another country. Clark said employees in Sussec are excited aboutthe acquisition. “They look at it as a way to solidifyh theirjob security,” he said. The firm hopes to resum a seven-day work schedule by the end of the Waukesha Tool was founded in 1971 and stamping services were addedd 10years later. The company movexd to its current 57,000-square-foot plant in Sussex in 1996. Clark came to the companu in January 2001. In 2005, he teamed with Milwaukee-based to purchasd the company. Clark is one of the company’xs five co-owners.
According to industry experts predict 30 percent of metal forminv companies will go out of busineszsby 2010. With those closings, there are opportunitiew for companies “with a strong balance sheet,” he Bill Smith, Wisconsin director of the , agreede with Clark, comparing the current economivc recession to the slowdown in the earlgy 1980s in which many enterprisinbg companies found success amidhard times. “The fact is therd are businesses growing and creating he said. Clark said therr are advantages to running a businessin Wisconsin, includinhg a skilled work force and a good qualitg of life in the state.
He said the statew government could do more forWisconsin however, by easing regulations and taxes. “Give us some competitive he said, “People have to be in a positionto
Tuesday, September 11, 2012
Does It Pay to Become a Teacher? - New York Times (blog)
ejyceh.wordpress.com
New York Times (blog) | Does It Pay to Become a Teacher? New York Times (blog) Fortuitously, in the midst of the contentious Chicago teachers union strike, the Organization for Economic Cooperation and Development has released its annual report on the state of education and investment in education around the developed world. It ... |
Monday, September 10, 2012
Testosterone marketing frenzy draws skepticism - USA TODAY
karnergetajequ1416.blogspot.com
Testosterone marketing frenzy draws skepticism USA TODAY "The problem is that we don't have any evidence that prescribing testosterone to older men with relatively low testosterone levels does any good," says Dr. Sergei Romashkan, who oversees clinical trials for the National Institute on Aging, a part of ... |
Saturday, September 8, 2012
Survey: Gas prices factor in car purchases - Pacific Business News (Honolulu):
disadvantage-unlimited.blogspot.com
Eighty-seven percent of new car shoppers last month said they think gas prices will go much up from 66 percentin April. The prospect of highedr gas prices also is having an impacrt onpurchasing decisions. When asked what they would be most likelyh to compromise in theirnext new-vehiclr purchase, shoppers cited engine size as the top item likely to be followed closely by vehicle size. In addition, 73 percent of thosee who saw gas prices increasing in May said they plan to changwe their spending habits if gas prices were to gomuch "While we may not see the $5-per-gallojn gas experienced in some areas last current economic conditions compounded by the pain at the pump may make $3-per-gallon gas a new threshold for car buyers the point at which they change theid mind about what vehicle to buy and how they spend thei money," said Jack R.
Nerad, executive editoriakl director and executive marke t analyst for Kelley Blue Bookand KBB.com, in a news
Eighty-seven percent of new car shoppers last month said they think gas prices will go much up from 66 percentin April. The prospect of highedr gas prices also is having an impacrt onpurchasing decisions. When asked what they would be most likelyh to compromise in theirnext new-vehiclr purchase, shoppers cited engine size as the top item likely to be followed closely by vehicle size. In addition, 73 percent of thosee who saw gas prices increasing in May said they plan to changwe their spending habits if gas prices were to gomuch "While we may not see the $5-per-gallojn gas experienced in some areas last current economic conditions compounded by the pain at the pump may make $3-per-gallon gas a new threshold for car buyers the point at which they change theid mind about what vehicle to buy and how they spend thei money," said Jack R.
Nerad, executive editoriakl director and executive marke t analyst for Kelley Blue Bookand KBB.com, in a news
Friday, September 7, 2012
Forced Arbitration Denies Consumers Fair Hearing on Complaints About Credit Cards and Other Financial Products
humojo.wordpress.com
June 3 /PRNewswire-USNewswire/ -- Consumers have the deck stackex against them when they are forceds into mandatory arbitration by their credit card issuer or othere financialservices provider, an analysis by the Center for Responsible Lending Many consumers don't even know that the contracts they sign for most credigt cards, auto loans and other smallp loan products come with hidden clauses that require they use arbitratioh rather than the courts if a complaint arises. A receny poll shows Americans believe they should have the right to pursu e claims in court ifthey want.
The CRL "Stacked Deck," details some of the forces working againstan individual's ability to receivde a fair hearing during arbitration. Amontg them: -- Individual arbitrators have a strong incentive to favot the firms that provide them with repeat business over an individuapl consumer they may neversee -- Companies win a favorable ruling in arbitration far more often than consumers. -- Companieds involved in the mostarbitration cases--and therefor e in creating the most business for arbitrators?consistently receive more favorable rulings than firms involved in fewer cases.
CRL recommendss that, before signing a contract, borrowers read the fine ask questions and tryto opt-out of arbitration And they should keep in mind that such clauses may not alwayws be enforceable. The report is available at: is a nonpartisan research and polichy organization dedicated to protecting homeownership and famil y wealth by working to eliminate abusiverfinancial practices. CRL is affiliatede with , one of the nation's largesy community developmentfinancial institutions.
June 3 /PRNewswire-USNewswire/ -- Consumers have the deck stackex against them when they are forceds into mandatory arbitration by their credit card issuer or othere financialservices provider, an analysis by the Center for Responsible Lending Many consumers don't even know that the contracts they sign for most credigt cards, auto loans and other smallp loan products come with hidden clauses that require they use arbitratioh rather than the courts if a complaint arises. A receny poll shows Americans believe they should have the right to pursu e claims in court ifthey want.
The CRL "Stacked Deck," details some of the forces working againstan individual's ability to receivde a fair hearing during arbitration. Amontg them: -- Individual arbitrators have a strong incentive to favot the firms that provide them with repeat business over an individuapl consumer they may neversee -- Companies win a favorable ruling in arbitration far more often than consumers. -- Companieds involved in the mostarbitration cases--and therefor e in creating the most business for arbitrators?consistently receive more favorable rulings than firms involved in fewer cases.
CRL recommendss that, before signing a contract, borrowers read the fine ask questions and tryto opt-out of arbitration And they should keep in mind that such clauses may not alwayws be enforceable. The report is available at: is a nonpartisan research and polichy organization dedicated to protecting homeownership and famil y wealth by working to eliminate abusiverfinancial practices. CRL is affiliatede with , one of the nation's largesy community developmentfinancial institutions.
Wednesday, September 5, 2012
Crowded housing: Rent cuts and other concessions likely as landlords struggle to fill student housing - South Florida Business Journal:
iqukikofor.wordpress.com
The new construction comes in addition to several others completed in recent includingthe 203-unit University Village on Walker the 86-unit Fulton Place at the cornert of West Lee and Fultomn street, and the addition of 120 unitds in Sebastian Village on East Washington Street. Although no one keeps track of the exact number of apartmentxs aimedat students, the addition of several hundred in a few shorrt years clearly represents a significant growtj in inventory in and around local campuses. Many developers have been attracterd to the relatively steady income ofstudenf housing, and have been enticexd to build because of growing enrollments.
UNCG, for example, has growm its student population 16.6 percent in five to 16,703 as of fall 2008. N.C. A&T has growbn almost 14 percent in that same to 10,388. But by adding so many units in so short a time, they’re taking longer to sign leases, leavinbg many landlords wondering how long or if, they’ll hit full occupancy. “It used to be the everything was intheir hands, they could dictate the rulee of the game,” said real estate broker Ralp Jones, who is one of the developersd of the upcoming Spartan Crossing, at Sherwood and Granitd streets, near South Chapman Street. Now? “It’sw a student’s market.
” Seth Coker, a partner in in said that in past years his studeng apartment complexes would have been mostly leased for the upcoming school year bylate spring, as student made sure to secure a place as soon as they returnec from spring break. He started to see signs of a changewlast spring, when he was leasing for the 2008-09 year. “We’re abougt 95 percent (occupied) for this school year, whichu is really good, but it was a hard fight to get and we got thereby November,” he said.
Landlordes such as Coker and Bryom Nelson, executive vice president of in said many of thei properties are about 40 percent to 70 perceny leased for the upcoming school year, far behind what it was a few yearz ago. Elsewhere in the Triad, in areas surroundinh and , apartment managers say their communities are mostly on target to lease all of thei ravailable beds, and there have been few, if any, rent Property owners say there simply hasn’t been as much competitiomn in those areas, compared to Greensboro, and they’vwe seen little effect from the economy on students.
Greensbork apartment owners and property managers say they noticed the abundance of housinb choices creating problemslast year. Both UNCG and A&r house about one-third of students on which, between the two, oftenh leaves more than 15,000 students needinf an off-campus option. But the problem has gotten worse this as the economy has some studentsdelayingb decisions, looking for cheaper alternatived or possibly commuting from home to save As a result, student-housing landlords have been flirtingy with concessions. While they aren’t as steep as the conventionalorental market, which is suffering from 13.1 percent vacancy, there is evidence of deals.
Already manageras or developerssay they’ve upgraded Internet connections and adde flat-panel televisions to lure college students to their communities. But more expensived concessions might soon be onthe way, in the form of rent Coker said he’s alreadh knocked $25 per monthy off of rent at some properties. And new project s such as Spring Place, at the site of the old PomonwCotton Mill, add to that pressurs by offering deals such as one month’s free rent.
Jones and Randy Dixon, owner of The Edge in say they’ve managed to avoid rent cuts so far, but there’ s a good chance bigger and better deals will startg appearing later this summer ifthingsz don’t improve. “I hate concessions as much as everyone but I like 100 percentffull better,” Jones said. In the short term, developeras say that because of an abundanceeof supply, and the fact that it’s hard to find it’s unlikely there will be much more which will help the market levepl out. And long term, owners say they don’yt think the Greensboro markeytis over-saturated.
UNCG and A&T continue to anticipate enrollmenfgrowth — UNCG says it already has 300 more applicationa for housing than it can accept leaving a bigger potential especially when the economy turns. “We’re still in good Jones said. “I just think lease-up will come later.”
The new construction comes in addition to several others completed in recent includingthe 203-unit University Village on Walker the 86-unit Fulton Place at the cornert of West Lee and Fultomn street, and the addition of 120 unitds in Sebastian Village on East Washington Street. Although no one keeps track of the exact number of apartmentxs aimedat students, the addition of several hundred in a few shorrt years clearly represents a significant growtj in inventory in and around local campuses. Many developers have been attracterd to the relatively steady income ofstudenf housing, and have been enticexd to build because of growing enrollments.
UNCG, for example, has growm its student population 16.6 percent in five to 16,703 as of fall 2008. N.C. A&T has growbn almost 14 percent in that same to 10,388. But by adding so many units in so short a time, they’re taking longer to sign leases, leavinbg many landlords wondering how long or if, they’ll hit full occupancy. “It used to be the everything was intheir hands, they could dictate the rulee of the game,” said real estate broker Ralp Jones, who is one of the developersd of the upcoming Spartan Crossing, at Sherwood and Granitd streets, near South Chapman Street. Now? “It’sw a student’s market.
” Seth Coker, a partner in in said that in past years his studeng apartment complexes would have been mostly leased for the upcoming school year bylate spring, as student made sure to secure a place as soon as they returnec from spring break. He started to see signs of a changewlast spring, when he was leasing for the 2008-09 year. “We’re abougt 95 percent (occupied) for this school year, whichu is really good, but it was a hard fight to get and we got thereby November,” he said.
Landlordes such as Coker and Bryom Nelson, executive vice president of in said many of thei properties are about 40 percent to 70 perceny leased for the upcoming school year, far behind what it was a few yearz ago. Elsewhere in the Triad, in areas surroundinh and , apartment managers say their communities are mostly on target to lease all of thei ravailable beds, and there have been few, if any, rent Property owners say there simply hasn’t been as much competitiomn in those areas, compared to Greensboro, and they’vwe seen little effect from the economy on students.
Greensbork apartment owners and property managers say they noticed the abundance of housinb choices creating problemslast year. Both UNCG and A&r house about one-third of students on which, between the two, oftenh leaves more than 15,000 students needinf an off-campus option. But the problem has gotten worse this as the economy has some studentsdelayingb decisions, looking for cheaper alternatived or possibly commuting from home to save As a result, student-housing landlords have been flirtingy with concessions. While they aren’t as steep as the conventionalorental market, which is suffering from 13.1 percent vacancy, there is evidence of deals.
Already manageras or developerssay they’ve upgraded Internet connections and adde flat-panel televisions to lure college students to their communities. But more expensived concessions might soon be onthe way, in the form of rent Coker said he’s alreadh knocked $25 per monthy off of rent at some properties. And new project s such as Spring Place, at the site of the old PomonwCotton Mill, add to that pressurs by offering deals such as one month’s free rent.
Jones and Randy Dixon, owner of The Edge in say they’ve managed to avoid rent cuts so far, but there’ s a good chance bigger and better deals will startg appearing later this summer ifthingsz don’t improve. “I hate concessions as much as everyone but I like 100 percentffull better,” Jones said. In the short term, developeras say that because of an abundanceeof supply, and the fact that it’s hard to find it’s unlikely there will be much more which will help the market levepl out. And long term, owners say they don’yt think the Greensboro markeytis over-saturated.
UNCG and A&T continue to anticipate enrollmenfgrowth — UNCG says it already has 300 more applicationa for housing than it can accept leaving a bigger potential especially when the economy turns. “We’re still in good Jones said. “I just think lease-up will come later.”
Tuesday, September 4, 2012
Benet steps down from ATI after just 4 months - Austin Business Journal:
lehoquvuhu.wordpress.com
Reed Benet, an entrepreneur who begabn working at ATI inDecember 2008, said in a news releass he wanted to start companies ratherr than solely assisting other entrepreneurs. “I just realized that I needefd to sit on the other side of the he said. Director Isaac Barchas said Beneg is working withan Austin-based start-upo company developing carbon base-line information; a Texas-basexd clean energy investment vehicle, and privatew consulting. But he would assist the organization during May to ease the transitiobn while the ATI searches for a The ATI, a nonprofit division of the , was founded in 1989.
In addition to its clean energy section, the ATI features an information technology wireless incubato and a bioscience Benet was the clean energy incubator’s third director since it launchecd in 2001. He replaced Joel Serface, who steppe down in May 2008 to becomeran entrepreneur-in-residence at Kleiner Perkins Caufielsd & Byers, a California-based venture capital firm. Serfacs had joined the ATI in 2006. Benet spentf the previous four years as a candidate atthe , where he researched plug-in hybrid electric vehicles.
Before that he was the CEO of a California-based producer of herbal In 1994, Benet founded , a California-based drug deliverty company that was acquired in 2000 by Tennessee-based for an undiscloserd amount. The ATI has worked with more than 150 teamszof entrepreneurs, who have raised more than $725 millionj in investor capital while at ATI. When he startec last December, Benet said Austin was poised to become the cleanenergy industry’s location.
Reed Benet, an entrepreneur who begabn working at ATI inDecember 2008, said in a news releass he wanted to start companies ratherr than solely assisting other entrepreneurs. “I just realized that I needefd to sit on the other side of the he said. Director Isaac Barchas said Beneg is working withan Austin-based start-upo company developing carbon base-line information; a Texas-basexd clean energy investment vehicle, and privatew consulting. But he would assist the organization during May to ease the transitiobn while the ATI searches for a The ATI, a nonprofit division of the , was founded in 1989.
In addition to its clean energy section, the ATI features an information technology wireless incubato and a bioscience Benet was the clean energy incubator’s third director since it launchecd in 2001. He replaced Joel Serface, who steppe down in May 2008 to becomeran entrepreneur-in-residence at Kleiner Perkins Caufielsd & Byers, a California-based venture capital firm. Serfacs had joined the ATI in 2006. Benet spentf the previous four years as a candidate atthe , where he researched plug-in hybrid electric vehicles.
Before that he was the CEO of a California-based producer of herbal In 1994, Benet founded , a California-based drug deliverty company that was acquired in 2000 by Tennessee-based for an undiscloserd amount. The ATI has worked with more than 150 teamszof entrepreneurs, who have raised more than $725 millionj in investor capital while at ATI. When he startec last December, Benet said Austin was poised to become the cleanenergy industry’s location.
Monday, September 3, 2012
United Way promotes federal tax credit - New Mexico Business Weekly:
humojo.wordpress.com
The organization said the tax credift lifts more children out of povertu than any otherfederal program. An increase in thosse seeking the tax credit would improve financiaol stability ofarea families, whicu is one of United Way'xs focus areas. More than $350 million was claimec in 2007 throughoutCentral Florida, yet the Internall Revenue Service estimates that up to 25 percent of thoses eligible to claim the credit failed to do so becaus of lack of awareness, according to a Heart of Florids United Way release.
Tax credits can result in refundsa rangingfrom $438 to $4,824, according to the United Way is offering free informative sessionsa on the tax credites and materials in English, Spanishu and Creole for employers to help employees take advantage of program benefits. More than 30 free tax preparatiojn sites have been established by the IRS Volunteer Income Tax Assistanceand Tax-Aide programse to help residents prepare their taxes. and the are sponsorinv the campaign and the city of Orlandok is also promoting the tax credit benefits and free taxpreparatiomn sites.
Heart of Florid a United Way isCentral Florida’s largesy provider of funds to the region’es health and human servicd programs.
The organization said the tax credift lifts more children out of povertu than any otherfederal program. An increase in thosse seeking the tax credit would improve financiaol stability ofarea families, whicu is one of United Way'xs focus areas. More than $350 million was claimec in 2007 throughoutCentral Florida, yet the Internall Revenue Service estimates that up to 25 percent of thoses eligible to claim the credit failed to do so becaus of lack of awareness, according to a Heart of Florids United Way release.
Tax credits can result in refundsa rangingfrom $438 to $4,824, according to the United Way is offering free informative sessionsa on the tax credites and materials in English, Spanishu and Creole for employers to help employees take advantage of program benefits. More than 30 free tax preparatiojn sites have been established by the IRS Volunteer Income Tax Assistanceand Tax-Aide programse to help residents prepare their taxes. and the are sponsorinv the campaign and the city of Orlandok is also promoting the tax credit benefits and free taxpreparatiomn sites.
Heart of Florid a United Way isCentral Florida’s largesy provider of funds to the region’es health and human servicd programs.
Saturday, September 1, 2012
August 31st, 2012 by Dave Brown - Car Dealer Magazine
tenamup.wordpress.com
Car Dealer Magazine | August 31st, 2012 by Dave Brown Car Dealer Magazine That was the week â€" August 28-31, 2012. August 31st, 2012 by Dave Brown. HERE ARE the most interesting and talked-about stories over the past five days, collated and summarised by us. Tuesday, August 28. DEALERS can now take advantage of an ... |
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