Stone 2011 Flow-Through Limited Partnership Files Final Prospectus - MarketWatch (press release)

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Saturday, October 29, 2011

Albany officials promote small-scale apartment conversions - Silicon Valley / San Jose Business Journal:

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“We’re very encouraged that thesd property owners are doingthe six- to 10-unirt conversions and they have a waitinyg list of people to lease said BID Executive Directof Pam Tobin. “It demonstrates there is a demansd fordowntown living.” Officials are trying to get more developers interested. Nearly 200 people attended a forum in Marcn at to learn about financial assistance and propertieds availablefor redevelopment. Besides 370 another conversionis underway: the upper floors of 23 North Pearl St.
, above a Quizno’s, are beingb renovated into seven apartments by Gus Moutopoulos and Steve Also, Rosenblum Development wants to convert a four-stor y former warehouse and car dealership on Chapel Street into a 20-unit high-end condo. Like with any constructiob project, there are unforeseen problemsa once thework begins. The budget for Meginniss Flats has balloonedto $1.5 million, abouf $500,000 more than what was projected by a feasibility studt done by the ALDC. Other financing is comin g from federal and state historic tax creditsw worthabout $390,000 and a $60,009 New York Main Street grant. The 2.
5-bath units will have amenities that urban dwellers such ashardwood floors, exposes brick walls, granite counter tops and a high-tech securitgy system. For the time being, though, the apartments lack two othercritical elements: cable TV and high-speed Internet The building is not servicedf by , a fact that surprisee the developers after they were well into the Cable service might be available once therwe are people living in the building, said Petere Taubkin, a Time Warner official.

Wednesday, October 26, 2011

Fred

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The Memphis-based discount retailer reported saleaof $134.7 million for May, down 6 percent compared to salew of $143.4 million in May 2008. These numbers include Fred’zs (NASDAQ: FRED) closing 74 underperforming stores and23 pharmacies. Excluding thosd stores, Fred’s sales increased 1 percent compared tolast May. Comparablew store sales in Mayrose 0.2 percent, down comparedf to 3.4 percent in the same periof last year. For the first four fiscal monthwof 2009, the company reported total sales of $593.1 million, down 2.4 percent compared to $607.
7 milliobn for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percentr compared to the same four-monty period last year. On a comparable store basis, year-to-date salexs increased 2.1 percent compared to 2.4 percent last year. Fred’s opened one new pharmacyt in May. Fred’s operates 666 discounyt merchandise stores, including 24 franchisee stores nationwide. Shares closed down 12 cent to $14.22 per share Wednesday.

Monday, October 24, 2011

Retail REIT works to refinance debt - Dallas Business Journal:

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The Dallas office of Hollidayg Fenoglio Fowler confirmed Wednesday that it has been workinbg with the real estate trust since the fourth quartert of 2008 to develop solution s forthe trust’s outstanding debt securities. To date, HFF has been able to securd or negotiate a totalof $500 million in financing for the real estatee investment trust. At this point, $300 million of debt is in variouws stages of negotiation for refinancingand long-term Thus far this the company has closed on $120 million in loans and securefd $75 million more in committed financing, HFF said in a The willingness of lenders to engage in the financinb of the trust may be attributed to the value of the HFF indicated.
“The lenders that are actively engageed appreciate the quality ofthe assets, the realistic underwritingv assumptions being used and the opportunity to make strong fundamentalp loans to a best-in-class sponsor,” said Kevinh MacKenzie, HFF managing director. Inlanf Western Retail Real Estatw Trust has 334 properties in is national totaling 51 millionsquare feet. Among locao retail properties it manages are The Shopsd at Park Placein Plano, Southlake Town Squafre Blocl 22 and Preston Trail Village in Dallas.

Saturday, October 22, 2011

Transportation plan meeting set for Oct. 27 - Freeport Journal-Standard

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Stone 2011 Flow-Through Limited Partnership Files Final Prospectus MarketWatch (press release) TORONTO, ONTARIO, Oct 31, 2011 (MARKETWIRE via COMTEX) -- Stone 2011 Flow-Through GP Inc., on behalf of the Stone 2011 Flow-Through Limited Partnership (the "Partnership"), has filed a final prospectus dated October 26, 2011 with Canadian securities ... and more »

Transportation plan meeting set for Oct. 27 Freeport Journal-Standard HSTP is federally mandated as part of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU). HSTP is a unified, comprehensive strategy for delivery of services that identify the transportation needs of ...

AMP-Ohio

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AMP-Ohio was cleared to receive a $30 millionb bridge loan to help fund construction ofa $3 billionh generating station in Meigs County. Construction on the coal-fires plant, which has clinched an OK from the and key approvalws from thestate , is set for latefr this year. The company said in a statemen that it considers the state stimulus loan a major factor in breaking groundon AMP-Ohio said the project will employ about 1,60 0 during a more than four-year construction procesz and about 160 when operational.
Stricklanx in a statement on Tuesday saidthe AMP-Ohio projecty and a facility in Perrysburfg in line for a $10 milliom loan are “great examples of how investing in advanced energy technologies is stimulating Ohio’s economy.” Just how advanced the energy at the AMP-Ohio projecg will be has been a point of contention betweenj the nonprofit wholesale power supplier and opponents. The projec t has drawn fire amid worries that it woulrd release air pollutantsand won’t emplogy the latest clean-coal technology. But compangy executives have argued that the planr will use emission controls that will make it among the cleanestf facilities ofits kind.
The Power Sitingh Board, which reviews requests for larges electric and natural gas facilities inthe state, strucj an agreement late last year with AMP-Ohi o and the state attorney general’s office over environmenta and economic concerns about the The loans to AMP-Ohio and Willar d & Kelsey are part of $150 millionh headed to companies around the state througy the job-creation stimulus packag e signed last June. Of that, $84 million is headed to non-coalp technology projects while $66 millio is earmarked for so-called clean-coal projects.

A Room With A Boo: TripAdvisor Announces America's Top 10 Haunted Hotels - Daily Markets

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A Room With A Boo: TripAdvisor Announces America's Top 10 Haunted Hotels Daily Markets We did record some orbs flying around our room while we slept. (We set up our video recorder on night vision).” 3. Stanley Hotel, Estes Park, Colorado â€" Average Nightly Rate: $142 â€" $291 This property, which first opened its doors in 1909, ... and more »

Two-QB system appears likely - Huntington Herald Dispatch

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Two-QB system appears likely Huntington Herald Dispatch Now, after Saturday's 24-20 win over Rice when Graham rushed for 129 yards and threw for 110, it appears Holliday is changing his preseason tune. "We're going to continue to play both those guys," Holliday said. "I think they both are different in what ... and more »

Marietta doc guilty in $3M fraud scam - Atlanta Business Chronicle:

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chiropractor Dr. William Stearns was found guilty Monday of 18 chargezof health-care fraud and five charges of money laundering in a $3 millionh scam. In 2004, Stearns and two chiropractors Steven Levine andChristophert Topel, ran three clinics in metro Atlanta under the name Under Stearns’ direction, CCMG fraudulentlyh billed for two separate back-pai procedures costing about $3 Stearns and his partners fraudulently billed for a procedurd known as Vertebral Axial Decompression (VAX-D) -- a non-invasive back pain procedurs that uses a mechanicak table to stretch a patient’ws spine.
Blue Cross/Blue Shield of Georgia considers VAX-r to be investigational and notmedicallhy necessary, and made clear to health-care providers that it did not covedr the procedure. The three were convictes of having lied to Blue Cross about what procedures they were performingv in order to get paid forthe non-covere d procedure. Stearns also fraudulently billed for an electrical stimulatiob procedure using a device knownas “Hako-Med.” Insteaf of billing for a relatively low-paying electrical stimulation procedure, Stearns instea d claimed to be performing surgical procedures known as nervse block injections.
Both Levine and Topell previously pleaded guilty to the Stearns now faces up to 230 yeara in prison and a fine of upto $5.75 Sentencing is set for Feb. 12, 2009.

Puget Sound Business Journal (Seattle): Boeing's Carson seeks regs for fuel efficiency

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Diamond Hill dissident fails in board bid - Business First of Columbus:

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LLC, a hedge fund investorf in Diamond Hill, had nominated three candidates to fill directo r seats at the Columbuesinvestment manager. Tim Eriksen, a principal in Lynden, Wash.-basedc Cedar Creek and one of theboard nominees, said in his that he supportedx boosting the company’s profit margin by reducing compensation levels. whose firm held 1,503 shares when it filedd its proposal inearlyu May, received 8,414 votes. The seven board members propose by Diamond Hill each received morethan 2.2 millionn votes each, giving them the seats by a wide margin.
Eriksen was present at the meeting and said he was disappointed that more institutionallinvestors didn’t vote with him, but also attributecd a lack of votes to not having enougnh time to reach out to shareholderw before the meeting. Although Eriksen’s effort to gain a board seat failed, Diamond Hill’s executives and directords did devote a significant portion of their comments and presentation to explaininyg their reasons for adding staff and providingincentives – moveds that have grown compensation Eriksen said he was encouraged by the company’s receptiveneszs to his concerns.
Over the past few Eriksen said, he felt an antagonistif relationship had developed withthe company, but that seemedx to shift this year. “Both sides realize each has good he said, “but just different perspectives.”

Commissioners OK $345K in Banks change orders - Business Courier of Cincinnati:

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“Nobody likes change orders, particularly in this said Project Manager John He briefed the pane l on the extra charges during the same meetinh where commissionersapproved $6.1 million in spendinh cuts from the county’s 2009 generap fund budget. Change orders are contract revision that pay vendors for problems encounterecdduring construction. The orders covered by Wednesday’se vote amount to half of the roughly $700,000 in change orders incurred by Banks contractors to That $700,000 represents 2.1 percentf of the $32.6 million in Banks contacts awarded to “It’s a good rate comparee to the national average of over 10 Deatrick said.
“But we’re stilpl pressing to try to minimize these Despite theadditional spending, the Banks project is abougt $3 million below its first-phase budgety estimate of $92.5 million. The project achievedc savings when construction bids came in lowefrthan expected. Since every change order eats away atthose savings, Deatrici is working on ways to prevention future problems. The largest change order so far involved a new sectio of Freedom Way that will connect Race Streetto Elm. When Bakee Concrete tried to connec the new street platform to the existing Race they foundmetal connectors, buried in the were too rusted to use.
So, they had to take out thosed connectors andreplace them, at a cost of

University System of Md. to break up biotechnology institute - Orlando Business Journal:

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The public university system’s Board of Regentsd approved Friday a sweepinvg restructuring of the that will parcel out its fourresearcn centers, along with staff and other assets, to othert campuses. System leaders hope the restructuring will drivd research collaboration and boosy access tooutside funding. It also meanss an end for UMBI, which was launchec to great fanfare two decades ago with the missio ofadvancing education, research and economic development for what was then the state’ws nascent biotech industry.
A months-long study of UMBI by an ad hoc committeed led by USM regents Chairman Cliffordx Kendall concludedthat “the organization of UMBI as a geographically dispersed, free-standinvg entity has created intractablr problems.” Those problems included an inability to scale UMBI programs, isolation among UMBI’s research centers, the lack of a criticalk mass of graduate and undergraduate studentsw involved in UMBI research, and administrative inefficiencies. “After a comprehensive and deliberative process, we have concludee that restructuring UMBI’s assets is the right thing to Kendall said ina statement.
“With a focusx on collaboration — acrossw disciplines and acrossinstitutions — and with recognitionm of the exceptional talent within the UMBI communityu and the system’s other institutions, this actionj will position USM to take fullerr advantage of its system-wide strengths in the biosciencesx and to fuel the state’s knowledge economuy even more.” The move isn’t a tota surprise. Critics have long questionec whether the state was duplicating its research effort s inthe biosciences. UMBI’s four center in Baltimore, Rockville and College Park conduct researcghon medical, biotechnology, marine and environmentao science.
At the same time, state fundingg for higher education is pinchexd by the recession andthe state’s budget and universities’ research needs are growing. Under the restructurint approved Friday by the regents at a meetinbgin Frostburg, a joint University System of Marylansd research center will be establishede at UMBI’s Center for Advanced Research in Biotechnologg in Rockville. The system’s flagship Colleged Park campus will oversee the facility and work with the Universituof Maryland, Baltimore to elevat work in physics, engineering and computational sciences as well as structurap biology, protein design and drug • UMBI’s Center for Biosystemd Research will also be overseen by College • A joint research center at UMBI’s Center of Marinw Biotechnology in Baltimore will be established, with administrative responsibility fallinf to the University of Maryland, Baltimord County.
UMBC will collaborate with the Universitt of Maryland Center for Environmental Science and the University of Baltimore to drive researc h in environmental andgenomic sciences. UMBI’s Baltimore-based Medical Biotechnology Center will fall under the Universituof Maryland, Baltimore’s purview. • UMBI’s Institute of Fluorescencse will be administeredby • UMBI’s K-12 educational programsd will be overseen by with an eye on enhancinh its teaching focus. UMBI President Jenni e Hunter-Cevera is stepping down June 30 after 10 yearx inthat role.
She will become executive vice presidenty of discovery and analytical sciences and corporatre developmentat , a North Carolinz nonprofit. The University System of Marylan d will honor tenure held by UMBIfacultgy members, and administrative support staffers will be able to stay in their jobs through fiscal 2010. Job opportunitiea at other system campuses willbe identified, and memoranda of understanding outlining future operationzs and collaborations are expected to be completed by the end of this year and fulluy implemented by the end of fiscalp 2010.
UMBI generates abou $25 million in research activitgy annually, and university system leaders hope to see that numbef increase dramatically by breaking upthe institute. “Today’s decisions by the board provide a tremendous opportunityh for the University System of Maryland to increase the volume and impact of its basic and appliee research inthe biosciences,” said USM Chancellor William E. Kirwa in a statement.
“Thisa restructuring has the potential to double the researcyh productivityof UMBI’s current assets within five

Christie Comes Clean on Trips as NJ Governor Seeks Donations - BusinessWeek

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Christie Comes Clean on Trips as NJ Governor Seeks Donations BusinessWeek A 2006 letter to Corzine's office from the attorney general at the time, Zulima Farber, said no transfer-of-power notice was necessary for “an occasional, overnight stay in New York City,” the Times said. New Jersey created a lieutenant governor ... Real-time commentary and analysis from The W »

More developers seek tax breaks - Phoenix Business Journal:

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The latest example is , whichj for the second time in two years findz itself embroiled in a battls over a development inDeKalb County, this time over a proposex $51 million property tax abatement on Town its half-billion-dollar mixed-use projecy on Peachtree Road just north of Buckhead’s Lenox Square mall and Phipps Plaza. The proposal has promptedr a small backlash among opponents whosay it’s just anothet example of a big company getting a free handout at the expensed of U.S. taxpayers. Sembler is asking for a special typeof abatement, known as payments in lieu of or a PILOT bond — the same type of mechanisn that funded the new $1.3 billion Yankee Stadium.
The PILOT has essentially the same purpose as previous tax breaksd forthe city’s biggest projectsx — keeping jobs and investment in Atlanta, commercial real estate brokers and developers say. Propertty tax abatements have sparked someof Atlanta’s most financially risku and most important commercial real estate projects in recent from ’s One Ninety One Peachtrer to ’s Allen Plaza. The abatementz may be even more critical now that lendingv has dried up and commercial real estate valuedare plummeting, developers say. Barry Real Estate coulsd seek tax abatements on 50 Allen a new tower on the drawing board atAllenn Plaza.
“We couldn’t get these projects done withou them,” said developer Hal Barry, whose Allem Plaza has kept hundredas of jobs downtown bylanding (NYSE: SO) and . “Th tax-exempt approach ends up having a multiplief effect in that it creates more moreeconomic development.” Sembler is makingh an unprecedented request to the Developmentf Authority of DeKalb County, the boared that will make a decision on the matter in comin weeks. No developer has asked DeKalnb for$51 million in tax breakws spread out overtwo decades. But these are also unprecedentereconomic times, said Marisa Mullins, DeKalb’s economic development director.
“We’ve seen a real decreasde in domestic financing,” she said. “And Sembler has a prove success record. This isn’t just some John Doe Sembler’s request could be a watershed momeng forthe authority. “We’ve started gettin g calls fromretail owners,” Mullins said. “They are watchinf this. It’s an important time.” Mullins went on to say: “We’ve got to find ways to keep investmeng here and stopthe bleeding. Ultimately, the question is ‘whaty is our competitive status as theUnited States, and how can we regaim economic stability?
’” Conceived before the recessiob and commercial real estate crisis, Town Brookhaven’s future could hinge on the Development Sembler hopes to lure Publix, , , and among other retailers. The company has alreadg announced Cobb Theater cinema and will be tenant s in thenearly 523,000-square-foot mixed-use center. Jeff Fuqua, presidenyt of the St. Petersburg, Fla.-based development company, went before the authorit y May 12 to makehis case. The projecrt would represent a net gain in overalk local tax revenue ofat least$7 milliobn in the first year and $119 million over the next 20 according to the proposal.
Sembler wants the tax breaks to apply only tothe project’s retail components and one of its apartment That amounts to abouty 50 percent of the Town Brookhaven’s 54 acres. The abatement won’ty affect school board tax revenue. If the authority rejectes the request, Sembler could still move forward, but the project may not includr all the components that were originally on thedrawingg board, including two anchor stores, 117,000 square feet of specialty shops and 18