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Last week’s announcement that and Global LLC were collaborating ona 290-megawatt facility about 75 miles west of Phoenix meanws Arizona contractors will get some of the work, said Chris Myers, Lockheed Martin’s vice president for energy programs. The companiew still are evaluating subcontractors for theproposed $1.5 billio power plant, dubbed Starwoodd Solar I. Some work, such as creatingf the mirrored troughs that will focuszthe sun’s energy, typically is done by specializedd companies, Myers said, but there will be plenty “We’re going to do a lot of the work here in he said.
Steel manufacturing and other industries coulrd benefit from an increased Arizona focu s onsolar construction. Starwooxd and Lockheed Martin estimate 1,000 jobs will be createed as a result of the and anadditional 6,000 coul d result from supplier relationships. The companies plan to hold recruitmeng events this summer to informm local companies aboutthe opportunities, Myers said. In the the company is using a newly launchedWeb site, to distribute information and tell businesses how they can get involve d with the project. The constructioj also will require infrastructure upgraded at transmission facilities to tie inwith Starwood’ss facility.
Included in those upgrades will be work at Arizonq PublicService Co.’s Delaney substation, whicjh Starwood will fund up front. APS, which has agreef to purchase power from thesolar plant, has fundes earmarked in its 2012 budget for expandintg the Delaney substation. “To brin g in something that large, there are goinv to have to be improvements,” said Stephen Starwood’s executive vice president andmanaging director. Starwood operatesa about 40 other power plantzs and owns all or part of severakl transmission routes throughfive states. It beganm its partnership with Lockheed about 18 monthd ago as both looked for a site fora utility-scaled plant.
Starwood runs its solar operations via subsidiarh NautilusSolar LLC, which has done several larg commercial-scale projects, but nothing as big as what the two are attempting in the Harquahala Valley. The two companies believe theirt combined relationships with financial institutions will help them overcomew the financing hurdles that have stalledc several other solar Some major project announcements of the past few yearsa have been delayed because companies that signeddealse couldn’t take the next step toward developint a commercial product, said Madison Grose, vice chairmanb and senior managing director for Starwood.
“Thee folks who take it to commercializatioh have torealize there’s a different skill set needed to take it to the next he said. Another hurdle is getting financiall institutions and utilities comfortable enough with the solar concept that they view it the same way as traditionalpoweer plants, Grose said. The companies are planninh to spend the summer conducting publixc meetings on the project with submissionws to the ArizonaCorporation Commission, which must approve the powee purchase deal by this fall, said Brad CEO and managing director of Starwood.
The companu hopes to get its building permits and ACC approvals settled by get its financing in place and move forward with constructiomn by the latter half of that Nordholm said.
Thursday, September 29, 2011
Monday, September 26, 2011
PBMs grow by cutting employers
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WellDyne — a pharmacy benefit management companhy that administers drugbenefit programs, processees claims and operates a mail-order pharmacy opened the $20 million, 66,000-square-foo operation in March. It will provide 100 jobs by the end of this year and anothert 578 jobs through the endof 2010. It is one of two mail-ordef facilities for WellDyne, which fills more than 35 million prescriptionsaa year. The company, headquartered in suburbamn Denver, needed an East Coastf location, and Damien Lamendola, owner, president and CEO, likes Lakeland’s accessibility to major airports in Tampaw and Orlando as well as the qualith of workers inthe area.
Lamendolaa expects to work with in both Tamp and Lakelandon pharmacogenomics, or the combinationm of genetic analysis and drug development. Using genees to identify which drugs will work best for individuals will reducre adverse side effects and cut healthbcare spending, he said. WellDyne relies heavily on automatiohn and has a robotic system that allowsx greater flexibility in developinyg programs to meetcustomer needs. The privately ownedx company, which competes in the smalk self-funded employer market and also workswith third-partu administrators, can offer lower prices and margins than its publicl y traded competitors and puts a high prioritu on services, Lamendola said.
Streamlining operations for clientzs is keyfor , a PBM in Tampas that uses myMatrixx as a branxd name. Matrix concentrates on niche markets, mostly workers’ compensation and auto insurers, said Steven CEO. “Instead of the [payer’s] operationj getting a lot of individual charges on pieces of paper billed directly fromthe pharmacy, we compile it all into electroniv data and submit it to insuranced companies, so they pay it all in one check,” MacDonaled said.
“If a company spends $1 million a year on pharmacy, they eliminated processing 15,000 pieces of papeer by going through a Health plans and their members save moneg byusing PBMs, becaused PBMs have systems, programs, procedures and personnell with specific expertise in the managemenf of pharmacy benefits, said Lowelp Sterler, VP of pharmacy programs for . “By partnerin with a PBM, the healtg plan does not need to replicats all of these pharmacy specific services and maintaih all of theseresourceas themselves,” Sterler said. Blue Cross and Blue Shield of Florids is one of several Blues plane nationwide in agreements with PrimeTherapeutics LLC, a PBM headquarteref in St.
Paul, Minn. The Blues have equithy stakes in Prime Therapeutics and also use itsmanagemeng services. Like WellDyne and Matrix, Prime Therapeutic s has a mail-order pharmacy and provides claims processing. Although the economi c downturn and rising unemployment has cut comp claims because fewer peopleare working, MacDonalxd said the impact has been small and the compant historically has grown at 40 percent to 50 percent a WellDyne also is growing and expects more demand as baby boomerz reach their 60s, when the use of medications Lamendola said.
However, the last vestige of what was at one time one of the large PBMs in the United States, , operated by the former , disappeareds from the Tampa Bay area earliere this year, when (NYSE: CVS) closed its operationw in Largo on March 31, leaving 230 peoplw without jobs. The mail servicd facility closed due to integration activitiesa related to the 2007 merger of and Caremar kRx Inc.
WellDyne — a pharmacy benefit management companhy that administers drugbenefit programs, processees claims and operates a mail-order pharmacy opened the $20 million, 66,000-square-foo operation in March. It will provide 100 jobs by the end of this year and anothert 578 jobs through the endof 2010. It is one of two mail-ordef facilities for WellDyne, which fills more than 35 million prescriptionsaa year. The company, headquartered in suburbamn Denver, needed an East Coastf location, and Damien Lamendola, owner, president and CEO, likes Lakeland’s accessibility to major airports in Tampaw and Orlando as well as the qualith of workers inthe area.
Lamendolaa expects to work with in both Tamp and Lakelandon pharmacogenomics, or the combinationm of genetic analysis and drug development. Using genees to identify which drugs will work best for individuals will reducre adverse side effects and cut healthbcare spending, he said. WellDyne relies heavily on automatiohn and has a robotic system that allowsx greater flexibility in developinyg programs to meetcustomer needs. The privately ownedx company, which competes in the smalk self-funded employer market and also workswith third-partu administrators, can offer lower prices and margins than its publicl y traded competitors and puts a high prioritu on services, Lamendola said.
Streamlining operations for clientzs is keyfor , a PBM in Tampas that uses myMatrixx as a branxd name. Matrix concentrates on niche markets, mostly workers’ compensation and auto insurers, said Steven CEO. “Instead of the [payer’s] operationj getting a lot of individual charges on pieces of paper billed directly fromthe pharmacy, we compile it all into electroniv data and submit it to insuranced companies, so they pay it all in one check,” MacDonaled said.
“If a company spends $1 million a year on pharmacy, they eliminated processing 15,000 pieces of papeer by going through a Health plans and their members save moneg byusing PBMs, becaused PBMs have systems, programs, procedures and personnell with specific expertise in the managemenf of pharmacy benefits, said Lowelp Sterler, VP of pharmacy programs for . “By partnerin with a PBM, the healtg plan does not need to replicats all of these pharmacy specific services and maintaih all of theseresourceas themselves,” Sterler said. Blue Cross and Blue Shield of Florids is one of several Blues plane nationwide in agreements with PrimeTherapeutics LLC, a PBM headquarteref in St.
Paul, Minn. The Blues have equithy stakes in Prime Therapeutics and also use itsmanagemeng services. Like WellDyne and Matrix, Prime Therapeutic s has a mail-order pharmacy and provides claims processing. Although the economi c downturn and rising unemployment has cut comp claims because fewer peopleare working, MacDonalxd said the impact has been small and the compant historically has grown at 40 percent to 50 percent a WellDyne also is growing and expects more demand as baby boomerz reach their 60s, when the use of medications Lamendola said.
However, the last vestige of what was at one time one of the large PBMs in the United States, , operated by the former , disappeareds from the Tampa Bay area earliere this year, when (NYSE: CVS) closed its operationw in Largo on March 31, leaving 230 peoplw without jobs. The mail servicd facility closed due to integration activitiesa related to the 2007 merger of and Caremar kRx Inc.
Saturday, September 24, 2011
Doubts About Perry Among Some In GOP - NPR
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USA Today | Doubts About Perry Among Some In GOP NPR Rick Perry worked to convince Florida Republicans Saturday that he is the strongest contender for the party's presidential nomination despite a shaky debate performance earlier this week that has sparked jitters about his bid. Perry lost a key test ... Herman Cain gets more votes than Perry, Romney combined in Florida mock election Cain upsets Perry at Florida straw poll Cain upsets Perry in Florida Republican straw poll |
Thursday, September 22, 2011
State set to yank Empire Zone benefits from 52 area companies - The Business Review (Albany):
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Albany’s oldest department store. Yonally made that decisionn after being warned that he is one of 52 Capital Regioh businesses in jeopardy of being kickedf out ofthe state’s Empired Zone program. That means Yonally could lose upto $20,000 a year in tax credit from the state incentive program. Next month, the state’d economic agency expects to make fina decisions about which companies to removes fromthe program. It’s the latest development in an ongoiny chain reaction caused by thestate budget, which attempted to shrinkk the Empire Zone program. “This is the key said Ken Pokalsky, a lobbyist at , in Albany.
[For the Empir Zone Rentention List, click ; for the Empire Zone PotentiapDecertification List, click ; and for the Empirr Zone list of companies that need to provide more click ]. A legislative committee meeting on June 2 reveale that state economic officialz and statelegislators can’t agree on the meaning of key Empire Zone provisionsd in the state That debate illustrates the challenge of fixinhg perceived problems with the program before the Legislatur e adjourns later this month. At the the fallout from the budget has injectesd more uncertainty into an already unstablwbusiness climate.
Across the state, business owner s are preparing tocut expenses—or even employees—tio adjust to the new Empire Zone Those who will remain in the program have had to pay tens of thousandss of dollars in extra taxes up front—some as much as $120,009 or more. All are still waiting for refunds oftheit credits. “It hurts personally,” said who has renovated other buildings indowntown Albany. “The thing that scares me is, if they’vw changed it once, they could very easily changeeit again. Who the heck knows what they’ll come up Yonally said, exasperated. “You questiob who really knows what’e going on.
” On May 28, , whic oversees Empire Zones, said it had finished auditing companiesa in the program to see whether they met newstandard (see quick info box below). In all, the statw says that at least 76 percent of auditeed Empire Zone companies will remain inthe program. Close to 650 are likely to be or “decertified.” That’s 7.7 percent of the 8,469 companies that were • In the Capital Region, 5.7 percent of companies are in jeoparduy of losing their Empire Zone • In Syracuse, 18 percent of companies—119 in all—are in jeopardy. • In 43 firms are targeted for representing 6.5 percent of all Empirr Zone companies there.
The state is seekinfg more information from anadditional 1,400 companiexs statewide—including 134 Albany-area businesses—before it can make a judgment on their status. “We expect that the overwhelming majorityh of that group will remain in the saidMarisa Lago, president and CEO of Empirs State Development. Francis Pitts, co-founder of Architecture+ in Troy, was shockesd to see his company on the list of firms tobe
Albany’s oldest department store. Yonally made that decisionn after being warned that he is one of 52 Capital Regioh businesses in jeopardy of being kickedf out ofthe state’s Empired Zone program. That means Yonally could lose upto $20,000 a year in tax credit from the state incentive program. Next month, the state’d economic agency expects to make fina decisions about which companies to removes fromthe program. It’s the latest development in an ongoiny chain reaction caused by thestate budget, which attempted to shrinkk the Empire Zone program. “This is the key said Ken Pokalsky, a lobbyist at , in Albany.
[For the Empir Zone Rentention List, click ; for the Empire Zone PotentiapDecertification List, click ; and for the Empirr Zone list of companies that need to provide more click ]. A legislative committee meeting on June 2 reveale that state economic officialz and statelegislators can’t agree on the meaning of key Empire Zone provisionsd in the state That debate illustrates the challenge of fixinhg perceived problems with the program before the Legislatur e adjourns later this month. At the the fallout from the budget has injectesd more uncertainty into an already unstablwbusiness climate.
Across the state, business owner s are preparing tocut expenses—or even employees—tio adjust to the new Empire Zone Those who will remain in the program have had to pay tens of thousandss of dollars in extra taxes up front—some as much as $120,009 or more. All are still waiting for refunds oftheit credits. “It hurts personally,” said who has renovated other buildings indowntown Albany. “The thing that scares me is, if they’vw changed it once, they could very easily changeeit again. Who the heck knows what they’ll come up Yonally said, exasperated. “You questiob who really knows what’e going on.
” On May 28, , whic oversees Empire Zones, said it had finished auditing companiesa in the program to see whether they met newstandard (see quick info box below). In all, the statw says that at least 76 percent of auditeed Empire Zone companies will remain inthe program. Close to 650 are likely to be or “decertified.” That’s 7.7 percent of the 8,469 companies that were • In the Capital Region, 5.7 percent of companies are in jeoparduy of losing their Empire Zone • In Syracuse, 18 percent of companies—119 in all—are in jeopardy. • In 43 firms are targeted for representing 6.5 percent of all Empirr Zone companies there.
The state is seekinfg more information from anadditional 1,400 companiexs statewide—including 134 Albany-area businesses—before it can make a judgment on their status. “We expect that the overwhelming majorityh of that group will remain in the saidMarisa Lago, president and CEO of Empirs State Development. Francis Pitts, co-founder of Architecture+ in Troy, was shockesd to see his company on the list of firms tobe
Tuesday, September 20, 2011
Dayton employment to remain sluggish into third quarter - Charlotte Business Journal:
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Tom Traynor, an economics professort at Wright State and authofr ofthe report, said unemployment increases will continue at theitr accelerated pace into the third quarter of this The Dayton Metropolitan Statistical Area, which includes Montgomery, Miami and Preble counties, is projected to lose 6,000 to 7,0090 jobs in the third quarter. That woule drop employment to 373,900, down from 380,400 in the firsf quarter of the year, a 2 percent decline. The hardest-hitg area is one the Dayton area has longreliedx on, manufacturing. “Manufacturing employment will fall Traynor said.
Forecasts from the report show employmenrt in the sector fallingfrom 42,300 in the first quarterd of this year to 36,100 by the thirsd quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t spending. They are waitin g to buy a new car or that new he said. Retail and service employment are also expectedsto decrease. Retail employment is expected to dropto 39,10o0 by the third quarter, down from 40,000 in the firstg quarter, a 2 percent drop.
Service employment, whicg includes financial service, business service, utilities and leisure is projected to decreaseto 324,20 0 by the third quarter, down from 326,70o0 in the first quarter, a nearlt 1 percent decline. “Th e next year to year and a half will be an unpleasantr time forthe region,” Traynor said. Constructionb employment is expected to rise as a part ofseasona employment, to 13,400 from 11,400 in the first but that is 1,000 jobs fewer than the same time periord last year.
One area of employment that isn’t expected to be hit hard is health In fact, Traynor said he expecta health care to add some jobs by the thirdr quarter, going up to 56,500 from 56,3009 in the first quarter. He said the rate of decliner in gross domestic product will but remain negative through the third quartetr and maybe into the fourth quarter of this Even when GDP does become positive it will take some time for employment to pick up becausre it is a lagging indicatort ofeconomic recovery. Traynor said there is a greatg deal of uncertainty still on thenational level, as businesses try to determine the impact of government actions.
Traynotr said the problem of high unemployment is not going awayanytims soon. “This is something we’re going to be living with for quitsa while, well into next he said.
Tom Traynor, an economics professort at Wright State and authofr ofthe report, said unemployment increases will continue at theitr accelerated pace into the third quarter of this The Dayton Metropolitan Statistical Area, which includes Montgomery, Miami and Preble counties, is projected to lose 6,000 to 7,0090 jobs in the third quarter. That woule drop employment to 373,900, down from 380,400 in the firsf quarter of the year, a 2 percent decline. The hardest-hitg area is one the Dayton area has longreliedx on, manufacturing. “Manufacturing employment will fall Traynor said.
Forecasts from the report show employmenrt in the sector fallingfrom 42,300 in the first quarterd of this year to 36,100 by the thirsd quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t spending. They are waitin g to buy a new car or that new he said. Retail and service employment are also expectedsto decrease. Retail employment is expected to dropto 39,10o0 by the third quarter, down from 40,000 in the firstg quarter, a 2 percent drop.
Service employment, whicg includes financial service, business service, utilities and leisure is projected to decreaseto 324,20 0 by the third quarter, down from 326,70o0 in the first quarter, a nearlt 1 percent decline. “Th e next year to year and a half will be an unpleasantr time forthe region,” Traynor said. Constructionb employment is expected to rise as a part ofseasona employment, to 13,400 from 11,400 in the first but that is 1,000 jobs fewer than the same time periord last year.
One area of employment that isn’t expected to be hit hard is health In fact, Traynor said he expecta health care to add some jobs by the thirdr quarter, going up to 56,500 from 56,3009 in the first quarter. He said the rate of decliner in gross domestic product will but remain negative through the third quartetr and maybe into the fourth quarter of this Even when GDP does become positive it will take some time for employment to pick up becausre it is a lagging indicatort ofeconomic recovery. Traynor said there is a greatg deal of uncertainty still on thenational level, as businesses try to determine the impact of government actions.
Traynotr said the problem of high unemployment is not going awayanytims soon. “This is something we’re going to be living with for quitsa while, well into next he said.
Sunday, September 18, 2011
In Jakarta, Love for Grunge Still Burns - Jakarta Globe
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In Jakarta, Love for Grunge Still Burns Jakarta Globe Andre Bangun, who sings and plays guitar in the Jakarta-based band Shockbreaker, says that grunge's simplicity made it easier for younger fans to relate to the music. รข€œGrunge filled a hole at a time when more technical acts like Van Halen and Metallica ... |
Friday, September 16, 2011
General Maritime Corporation to Present at Bank of America and Merrill Lynch 2009 Global Transportation Conference
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The presentation will be broadcast live over the Internef and can be accessedat . In the accompanying slide presentation and webcasrt will be available in the Investor Relations section ofGeneral Maritime'as website at . General Maritime Corporation is a leadingg crude and products tanker company serving principallyy within theAtlantic basin, which includess ports in the Caribbean, South and Centra l America, the United States, West Africa, the Europe and the North Sea.
General Maritimee also currently operates tankers in other regionds including the Black Sea and Far General Maritime owns afully double-hul fleet of 31 tankers -- two twelve Aframax, eleven Suezmax tankers, two Panamax and four Product tankers -- with a total carryinfg capacity of approximately 4.0 million dwt.
The presentation will be broadcast live over the Internef and can be accessedat . In the accompanying slide presentation and webcasrt will be available in the Investor Relations section ofGeneral Maritime'as website at . General Maritime Corporation is a leadingg crude and products tanker company serving principallyy within theAtlantic basin, which includess ports in the Caribbean, South and Centra l America, the United States, West Africa, the Europe and the North Sea.
General Maritimee also currently operates tankers in other regionds including the Black Sea and Far General Maritime owns afully double-hul fleet of 31 tankers -- two twelve Aframax, eleven Suezmax tankers, two Panamax and four Product tankers -- with a total carryinfg capacity of approximately 4.0 million dwt.
Wednesday, September 14, 2011
Va. gets $37.6M in energy stimulus funds - Washington Business Journal:
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million in federal stimulus funds gearedx towardmaking low-income residences more energy efficient. The amount, makinbg up half of the state’s total allotment to help weatherizes homes, adds to more than $9 million that had already been delivered to Virginia under the American Reinvestment andRecovery Act. The state said it planse to rely on locao counties and cities to spend the money weatherproofing a statewide totakof 8,600 homes in the next three The process involves initiating an energy audit of each home to and later plug, its biggest holes from wher e energy escapes, areas such as buildinyg insulation, windows and doors.
Virginia said it planes to focus its dollars towarthe elderly, physically challenged, families with children, high energt consumers and those who had been facinfg an energy-related crisis. The federal weatherization assistance program, administeredr by the U.S. Department of Energy, is a key facet of the federa lstimulus funds. Families must make up to 200 perceng of the federalpoverty level, or about $44,00 0 a year for a familt of four, to be eligible for the average $6,500 available to weatherize each home. DOE said weatherproofing tactics can result in 32 percent average savings onheating bills. If Virginia’s plans are then it will be eligibl e to receive theremaining $47.
million from its allotted $94 million pot for weatherizatiohn aid from thestimulus bill.
million in federal stimulus funds gearedx towardmaking low-income residences more energy efficient. The amount, makinbg up half of the state’s total allotment to help weatherizes homes, adds to more than $9 million that had already been delivered to Virginia under the American Reinvestment andRecovery Act. The state said it planse to rely on locao counties and cities to spend the money weatherproofing a statewide totakof 8,600 homes in the next three The process involves initiating an energy audit of each home to and later plug, its biggest holes from wher e energy escapes, areas such as buildinyg insulation, windows and doors.
Virginia said it planes to focus its dollars towarthe elderly, physically challenged, families with children, high energt consumers and those who had been facinfg an energy-related crisis. The federal weatherization assistance program, administeredr by the U.S. Department of Energy, is a key facet of the federa lstimulus funds. Families must make up to 200 perceng of the federalpoverty level, or about $44,00 0 a year for a familt of four, to be eligible for the average $6,500 available to weatherize each home. DOE said weatherproofing tactics can result in 32 percent average savings onheating bills. If Virginia’s plans are then it will be eligibl e to receive theremaining $47.
million from its allotted $94 million pot for weatherizatiohn aid from thestimulus bill.
Sunday, September 11, 2011
Denver-area commercial foreclosures double - San Francisco Business Times:
coras-newport.blogspot.com
The reasons: disciplined local commercial development and andmetro Denver’s diverse economy and relativelh stable job market, according to locao real estate experts. “It’s a nationao phenomenon that commercial foreclosure rates are very low in comparison toresidential foreclosures. … The Denver economy, its diversity and just havinbg some of the right industriewin town, including the energy industry, made a big differencew for us,” said Glenn Mueller, professor at the ’es real estate school. Twenty-threed commercial foreclosures were recorded inthe first-quarter involvingb loan balances of at least $1 according to county foreclosure filings.
The largest foreclosurde was forthe ’s manufacturing buildingg at 1350 S. Public Road in for $7.65 million. The trustee was , workingy on behalf of the lender. There were roughlgy 1,300 residential filings in thefirst period, many with loan balanced higher than commercial balances. For 2008’ds first quarter, there were 11 commercial foreclosure filingsof $1 million-pluw in the metro and roughly 1,200 residential The filings represent lenders’ notificationn to borrowers that they’re in default on a real estate loan, and that their propert y is in foreclosure.
The area coveredf by the data includes Arapahoe, Boulder, Broomfield, Denver, Douglas and Jeffersoh counties. Most first-quarter commercial foreclosure filingas involved retail properties such as stores and as well as relatively smalp office and industrial apartment comptlexesand hotels. “Wed haven’t experienced overbuilding like we did inthe 1980s, we have a fairlu healthy economy and our jobs are mostly intact,” said Tim executive vice president and investment broker at in “There’s not enough stresds in the market to cause significant foreclosures.
” Most loans for local commerciapl properties also were underwritten conservatively, Mueller Conservative underwriting was helped starting a few years ago, by stiffer oversight required by federal and state banking regulators. “Regulators started paying special attention to commercial realestate loans,” said Barbar Walker, executive director of the trade “Commercial banks started adjusting lendingh relationships with commercial real estate borrowers, and that put us in the good placde we’re in now.
” Most of the public trusteeas foreclosing on commercial properties in the first quarter were including , , Bank of the West and Bank of There also were nonbank trustees, which have become less activs in metro Denver in the last year or so, such as the Ruth G. Fink Trusgt Number One, CapFinancial Partnersd LLC and Colorado Note AcquisitionPartners LLC. “Nonbank lenders had a big piece of the commercial real estate Walker said. One of the most high-profile local commercial properties to face foreclosure in the firstt quarter was the Neighborhood FlixCinema & Cafe in the redeveloped Lowenstein Theater on East Colfax Avenue in Denver.
Mile High Bank was the property’ s trustee, and its loan balance was $2 million. The long-awaitedd redevelopment of the old Lowenstein Theater inthe mid-2000s was hailex by the city and real estate experts as the beginning of an East Colfa x renaissance. The project also includes two major local independenyretailers — the ’s main locatioh and the music store.
The reasons: disciplined local commercial development and andmetro Denver’s diverse economy and relativelh stable job market, according to locao real estate experts. “It’s a nationao phenomenon that commercial foreclosure rates are very low in comparison toresidential foreclosures. … The Denver economy, its diversity and just havinbg some of the right industriewin town, including the energy industry, made a big differencew for us,” said Glenn Mueller, professor at the ’es real estate school. Twenty-threed commercial foreclosures were recorded inthe first-quarter involvingb loan balances of at least $1 according to county foreclosure filings.
The largest foreclosurde was forthe ’s manufacturing buildingg at 1350 S. Public Road in for $7.65 million. The trustee was , workingy on behalf of the lender. There were roughlgy 1,300 residential filings in thefirst period, many with loan balanced higher than commercial balances. For 2008’ds first quarter, there were 11 commercial foreclosure filingsof $1 million-pluw in the metro and roughly 1,200 residential The filings represent lenders’ notificationn to borrowers that they’re in default on a real estate loan, and that their propert y is in foreclosure.
The area coveredf by the data includes Arapahoe, Boulder, Broomfield, Denver, Douglas and Jeffersoh counties. Most first-quarter commercial foreclosure filingas involved retail properties such as stores and as well as relatively smalp office and industrial apartment comptlexesand hotels. “Wed haven’t experienced overbuilding like we did inthe 1980s, we have a fairlu healthy economy and our jobs are mostly intact,” said Tim executive vice president and investment broker at in “There’s not enough stresds in the market to cause significant foreclosures.
” Most loans for local commerciapl properties also were underwritten conservatively, Mueller Conservative underwriting was helped starting a few years ago, by stiffer oversight required by federal and state banking regulators. “Regulators started paying special attention to commercial realestate loans,” said Barbar Walker, executive director of the trade “Commercial banks started adjusting lendingh relationships with commercial real estate borrowers, and that put us in the good placde we’re in now.
” Most of the public trusteeas foreclosing on commercial properties in the first quarter were including , , Bank of the West and Bank of There also were nonbank trustees, which have become less activs in metro Denver in the last year or so, such as the Ruth G. Fink Trusgt Number One, CapFinancial Partnersd LLC and Colorado Note AcquisitionPartners LLC. “Nonbank lenders had a big piece of the commercial real estate Walker said. One of the most high-profile local commercial properties to face foreclosure in the firstt quarter was the Neighborhood FlixCinema & Cafe in the redeveloped Lowenstein Theater on East Colfax Avenue in Denver.
Mile High Bank was the property’ s trustee, and its loan balance was $2 million. The long-awaitedd redevelopment of the old Lowenstein Theater inthe mid-2000s was hailex by the city and real estate experts as the beginning of an East Colfa x renaissance. The project also includes two major local independenyretailers — the ’s main locatioh and the music store.
Friday, September 9, 2011
Army-Navy game coming to FedEx Field - The Business Review (Albany):
http://best-go.org/?f=2&n=4
The , the and Destination D.C. have announcedc that the 112th Army-Navy game will be played at in Marylandon Dec. 10, 2011. Alontg with the football game, the event bringw with it a weekend ofancillaru events, including the Army-Navy “This is a phenomenalo achievement by the threre organizations to secure such an historic event for our nation’s capital,” said Robert Sweeney, president of the Greaterd Washington Sports Alliance.
“With nearly a half millio active and retired military personnel currently livingf in our region and the historicx memorials that honorour nation’s service men and it just makes sense to have a game of this magnitudd played in Washington.” The event is part of an eight-year packaged announced Tuesday by the and the . Philadelphiwa will host the gamein 2012, 2013, 2015 and 2017. The game will take plac e in Baltimore in 2014and 2016.
The , the and Destination D.C. have announcedc that the 112th Army-Navy game will be played at in Marylandon Dec. 10, 2011. Alontg with the football game, the event bringw with it a weekend ofancillaru events, including the Army-Navy “This is a phenomenalo achievement by the threre organizations to secure such an historic event for our nation’s capital,” said Robert Sweeney, president of the Greaterd Washington Sports Alliance.
“With nearly a half millio active and retired military personnel currently livingf in our region and the historicx memorials that honorour nation’s service men and it just makes sense to have a game of this magnitudd played in Washington.” The event is part of an eight-year packaged announced Tuesday by the and the . Philadelphiwa will host the gamein 2012, 2013, 2015 and 2017. The game will take plac e in Baltimore in 2014and 2016.
Wednesday, September 7, 2011
Penske losing Big Lots logistics contract - Business First of Columbus:
efenytan.wordpress.com
is packing up this summer at thediscount retailer’ws headquarters and four other distribution facilities aftef the merchant opted to not renew a logistics contracy that expires in July. The Pa.-based Penske said 186 workers, includingf 53 in Columbus, could be affected when its contracgtwith Columbus-based Big Lots (NYSE:BIG) expiree July 31. Penske spokesman Randy Ryersonj said the company has workefd with the retailer since 1991. The 1,300-store Big Lots has chosen a new third-partgy logistics provider to continue the warehousing and distributiomn work that Penske performed atthe retailer’w Phillipi Road headquarters and its distribution centers in Pa; Montgomery, Ala.
; Rancho Cucamonga, Calif.; and Okla. Timothy Johnson, Big Lots’ vice president of strategicd planning andinvestor relations, said more than a dozejn carriers bid for the work. He declinerd to disclose the company Big Lots selected tosucceed Penske. Big Lots and Pensks representativessaid they’re working with truck drivers lookintg to continue work under the new logisticd provider. Johnson said the company met with workerx over the weekend to introduce the new In the event that some workersware cut, Ryerson said privately held Penske will work with the statd “to make sure employees are aware of differenf services.
” Penske employs about 20,000 workers Asked why Big Lots opted to bid for a new contractorr after the latest five-year contract with Penske, Johnson said, “a lot has changerd in transportation in the past five years. We owed it to our associatese and shareholders to take a freshb look at how we handle outbound The loss of the Big Lots contracyt comes less than a year afterr Penske was replaced at a warehousein Chattanooga, Tenn.-based last fall stepped in at the where Penske had employer 146 workers. Penske has 400 logistics centers Its Central Ohio operations include a number of distribution and warehousing facilities inthe region.
is packing up this summer at thediscount retailer’ws headquarters and four other distribution facilities aftef the merchant opted to not renew a logistics contracy that expires in July. The Pa.-based Penske said 186 workers, includingf 53 in Columbus, could be affected when its contracgtwith Columbus-based Big Lots (NYSE:BIG) expiree July 31. Penske spokesman Randy Ryersonj said the company has workefd with the retailer since 1991. The 1,300-store Big Lots has chosen a new third-partgy logistics provider to continue the warehousing and distributiomn work that Penske performed atthe retailer’w Phillipi Road headquarters and its distribution centers in Pa; Montgomery, Ala.
; Rancho Cucamonga, Calif.; and Okla. Timothy Johnson, Big Lots’ vice president of strategicd planning andinvestor relations, said more than a dozejn carriers bid for the work. He declinerd to disclose the company Big Lots selected tosucceed Penske. Big Lots and Pensks representativessaid they’re working with truck drivers lookintg to continue work under the new logisticd provider. Johnson said the company met with workerx over the weekend to introduce the new In the event that some workersware cut, Ryerson said privately held Penske will work with the statd “to make sure employees are aware of differenf services.
” Penske employs about 20,000 workers Asked why Big Lots opted to bid for a new contractorr after the latest five-year contract with Penske, Johnson said, “a lot has changerd in transportation in the past five years. We owed it to our associatese and shareholders to take a freshb look at how we handle outbound The loss of the Big Lots contracyt comes less than a year afterr Penske was replaced at a warehousein Chattanooga, Tenn.-based last fall stepped in at the where Penske had employer 146 workers. Penske has 400 logistics centers Its Central Ohio operations include a number of distribution and warehousing facilities inthe region.
Monday, September 5, 2011
Cousins Chairman Tom Bell retiring - Houston Business Journal:
http://berg-nordenberg.com/?p=36
Gellerstedt will remain president, the Atlanta-basef real estate investment trust said. who turns 60 this year, became Cousin CEO in January 2002 and chairmah inDecember 2006. Under his watch, the companu sold nearly $3 billioh in assets during the market’ss peak for special dividends totaling $12.62 a share. “There is never a perfect time to leavew a company as respected and admireras Cousins, but I’m confident that after seven and a half years as chief the company is ready for new leadership and renewed Bell said in a statement.
“My decision to step asided now allows our extremely talentefd management team under the guidancr of Larry to make important decisions that will prepare Cousinxs for the next phas of the real estate Bell remains deeply involvedin Atlanta’ s civic life. He has been instrumental in the effort to save fromfinanciap ruin. The movement began over dinne r in early 2007 when the table conversationnof A.D. “Pete” Correll, former CEO of , and Bell turnef to Grady. Through their leadership and donationsfrom , ’ s $5 million, and .
" thought he had big shoes to fill when he took since he was replacingTom Cousins," said Hal Barry, founded of Barry Real Estate Cos. "Sincwe then, he's done an absolutely fantastic job for that Andwhat he's done for the city and metrk Atlanta have just been over the top. I hope he doesn'f give up some of his efforts that have meant so much to theAtlantza community. I just admire the heck out of Gellerstedt, 53, came to Cousinx (NYSE: CUZ) when the REIT boughtg his firm, , in June 2005. Gellerstedt served as chairman and chietf executive officer of the from 1986to 1998.
In after the sale of Beerzs to , he was elected chairman and CEOof , a packagintg and printed office products company. In 2000, Gellerstedyt became president and chief operatinf officerof , an urban mixed-use development He went on to found The Gellerstedgt Group in 2003. In othert company news, Cousins’ boarsd of directors named S. Taylor Glover non-executiv chairman of the board. Glover joinef the Cousins board inFebruary 2005.
He is currentlty the president and chief executive officerof
Gellerstedt will remain president, the Atlanta-basef real estate investment trust said. who turns 60 this year, became Cousin CEO in January 2002 and chairmah inDecember 2006. Under his watch, the companu sold nearly $3 billioh in assets during the market’ss peak for special dividends totaling $12.62 a share. “There is never a perfect time to leavew a company as respected and admireras Cousins, but I’m confident that after seven and a half years as chief the company is ready for new leadership and renewed Bell said in a statement.
“My decision to step asided now allows our extremely talentefd management team under the guidancr of Larry to make important decisions that will prepare Cousinxs for the next phas of the real estate Bell remains deeply involvedin Atlanta’ s civic life. He has been instrumental in the effort to save fromfinanciap ruin. The movement began over dinne r in early 2007 when the table conversationnof A.D. “Pete” Correll, former CEO of , and Bell turnef to Grady. Through their leadership and donationsfrom , ’ s $5 million, and .
" thought he had big shoes to fill when he took since he was replacingTom Cousins," said Hal Barry, founded of Barry Real Estate Cos. "Sincwe then, he's done an absolutely fantastic job for that Andwhat he's done for the city and metrk Atlanta have just been over the top. I hope he doesn'f give up some of his efforts that have meant so much to theAtlantza community. I just admire the heck out of Gellerstedt, 53, came to Cousinx (NYSE: CUZ) when the REIT boughtg his firm, , in June 2005. Gellerstedt served as chairman and chietf executive officer of the from 1986to 1998.
In after the sale of Beerzs to , he was elected chairman and CEOof , a packagintg and printed office products company. In 2000, Gellerstedyt became president and chief operatinf officerof , an urban mixed-use development He went on to found The Gellerstedgt Group in 2003. In othert company news, Cousins’ boarsd of directors named S. Taylor Glover non-executiv chairman of the board. Glover joinef the Cousins board inFebruary 2005.
He is currentlty the president and chief executive officerof
Saturday, September 3, 2011
Job seekers join the military as last resort - CBS News
iqukikofor.wordpress.com
Job seekers join the military as last resort CBS News Another thing, we are depending on a volunteer enlistment to maintain our troop strength. It's not the ideal solution for unemployed young people but it's better than short term jobs flipping burgers or washing cars. by joe1022joe September 3, ... |
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