http://www.sbsn.net/authors/author-423.html
Village at Secret Lake LP closee ona $47.2 millio n construction permanent loan May 12 to finance the Village at Secret Lake near the Orange Lake Country Osceola County records show the project is bein g built on a portion of the property that previously was an RV park on the south side of U.S. Highwayy 192 and the Daniel WebsterWesternn Beltway. Carolyn Whatley, first vice president and senior loan originatorrfor ’s Palm Beach office, brokered the -insures loan.
It is the largest transaction processes through the Jacksonvillethis year, according to a news The $56 million Village at Secret Lake is plannec for 12, four-story buildings with featuring a conservation area, putting green, tot lot and oversized resort-style The project broke ground two weeka ago and is slated for completion November 2010. Pa.-based James S. Carr, AIA & Associated LLC is the architect andJacksonvill Beach-based LLC is the generao contractor.
Friday, September 10, 2010
Thursday, September 9, 2010
Failure Fridays: Ga. banking crisis may be gaining speed - Puget Sound Business Journal (Seattle):
http://www.optimizedirectory.com/index.php?s=D&c=290
The dual failures of Villa Rica-based a and Newnan-based (full stories on the click and ) are a firsyt in the on-going bankingh crisis, and a departure from the FDIC’sa early strategy in this “They’re ramping up a little bit,” said Chip MacDonald, Atlanta-based banking “With their efforts to staff up, raise moneyy for the deposit insuranc fund through the special assessments and the Iexpect they’ll try to resolve these faste r throughout the remainder of the year.
” The national deposit which backstops accounts to avoid customers pulling theie money from a bank and hastening its demise, previouslh avoided seizing two banks in the same metro area duringh this crisis. The reason, industry insiders was to avoid the perception one geographivc area was weaker than others in the Yet as the financiaol condition of Georgia banks continueto weaken, industry analystse and experts said the velocity of Georgia’s bank failuresd would continue, if not accelerate. As of firsy quarter 2009, the ratio of problem loans to total loans at stated banks reached a new highof 7.
4 nearly double the peak the state reported during the Savings Loan Crisis of the late 1980’s and earlh 1990’s. The ratio compares past due anddelinqueng loans, along with foreclosedd real estate repossessed by the bank, to totap loans outstanding. The state has set new highsz for that figure in each quarter dating back to the summerfof 2007, when the credit crunch and financial crisis began in earnest. One industry who declined to be named, said the and the acceleration, represent the worstf banking crisis inGeorgia history.
The industrt term of “Failure Fridays” — or the most common day when federakl and state regulators seize faile dbanks — insiders said, will becomd ubiquitous for some time. “This is a perpetuatiob of what we’ve been talkinhg about for a while now,” said Brian an Atlanta-based managing director at LLP, who noter Georgia banks have an imbalanc betweenfewer customer, or core, deposits and more outstandingt loans. “The numbers indicate Georgia bankds got way out overtheifr skis. This was a grear place to lend in the butnow they’re paying the Olasov said.
president Joe Brannen said the seizurees are a difficult part of the naturaoeconomic cycle. “Bankers and regulators make tremendous efforts to keep institutions but in someunfortunate cases, these actione are part of the necessary healing proces for our banking system to ensurre overall stability,” Brannen said. Georgia’s failure woes began in earnesy inAugust 2008, when Alpharetta-basec , once the state’z fastest growing bank, , concentrated amongst a smalpl group of borrowers. Ever since, the failures have followes an increasinglyfamiliar formula. Delinquent real estate borrowers, couplef with high levels of foreclosed real equals failure.
The patter n includes a high number onthe so-calledx Texas Ratio, an industry metric created in the 1980’s to measur the health of lenders throughoutg Texas. The ratio measures total problem loansd to totalequity capital, and is designedx to provide a rough measure of bank’s problem to its ability to absorb them througyh existing capital. In the ratio, 100 percent indicatexs problems are larger than availableequity capital. In most of the bank failures have reportesd a Texas Ratio in excess of 300 percentg at the timeof seizure. As of first quarter 92 Georgia banks reported a Texas Ratiol higher than the statewidr average of58 percent.
In Atlanta, banksa reported an average Texas Ratio of 72 nearly 20 points highee than thestatewide figure. Each of the 11 bankx with the highest Texas Ratios were based inmetri Atlanta. Since March 31, the end of first three of those banks havebeen seized.
The dual failures of Villa Rica-based a and Newnan-based (full stories on the click and ) are a firsyt in the on-going bankingh crisis, and a departure from the FDIC’sa early strategy in this “They’re ramping up a little bit,” said Chip MacDonald, Atlanta-based banking “With their efforts to staff up, raise moneyy for the deposit insuranc fund through the special assessments and the Iexpect they’ll try to resolve these faste r throughout the remainder of the year.
” The national deposit which backstops accounts to avoid customers pulling theie money from a bank and hastening its demise, previouslh avoided seizing two banks in the same metro area duringh this crisis. The reason, industry insiders was to avoid the perception one geographivc area was weaker than others in the Yet as the financiaol condition of Georgia banks continueto weaken, industry analystse and experts said the velocity of Georgia’s bank failuresd would continue, if not accelerate. As of firsy quarter 2009, the ratio of problem loans to total loans at stated banks reached a new highof 7.
4 nearly double the peak the state reported during the Savings Loan Crisis of the late 1980’s and earlh 1990’s. The ratio compares past due anddelinqueng loans, along with foreclosedd real estate repossessed by the bank, to totap loans outstanding. The state has set new highsz for that figure in each quarter dating back to the summerfof 2007, when the credit crunch and financial crisis began in earnest. One industry who declined to be named, said the and the acceleration, represent the worstf banking crisis inGeorgia history.
The industrt term of “Failure Fridays” — or the most common day when federakl and state regulators seize faile dbanks — insiders said, will becomd ubiquitous for some time. “This is a perpetuatiob of what we’ve been talkinhg about for a while now,” said Brian an Atlanta-based managing director at LLP, who noter Georgia banks have an imbalanc betweenfewer customer, or core, deposits and more outstandingt loans. “The numbers indicate Georgia bankds got way out overtheifr skis. This was a grear place to lend in the butnow they’re paying the Olasov said.
president Joe Brannen said the seizurees are a difficult part of the naturaoeconomic cycle. “Bankers and regulators make tremendous efforts to keep institutions but in someunfortunate cases, these actione are part of the necessary healing proces for our banking system to ensurre overall stability,” Brannen said. Georgia’s failure woes began in earnesy inAugust 2008, when Alpharetta-basec , once the state’z fastest growing bank, , concentrated amongst a smalpl group of borrowers. Ever since, the failures have followes an increasinglyfamiliar formula. Delinquent real estate borrowers, couplef with high levels of foreclosed real equals failure.
The patter n includes a high number onthe so-calledx Texas Ratio, an industry metric created in the 1980’s to measur the health of lenders throughoutg Texas. The ratio measures total problem loansd to totalequity capital, and is designedx to provide a rough measure of bank’s problem to its ability to absorb them througyh existing capital. In the ratio, 100 percent indicatexs problems are larger than availableequity capital. In most of the bank failures have reportesd a Texas Ratio in excess of 300 percentg at the timeof seizure. As of first quarter 92 Georgia banks reported a Texas Ratiol higher than the statewidr average of58 percent.
In Atlanta, banksa reported an average Texas Ratio of 72 nearly 20 points highee than thestatewide figure. Each of the 11 bankx with the highest Texas Ratios were based inmetri Atlanta. Since March 31, the end of first three of those banks havebeen seized.
Tuesday, September 7, 2010
SunPower Corp. and Xcel to build plant in Colorado - San Francisco Business Times:
http://www.newwebsitedirectory.net/authors/author-79.html
San Jose-based SunPower (NASDAQ: SPWRA) will work with Minneapolis-based XEL) on the 17-megawatt power facility, to be builtt in Alamosa County by the endof 2010. That area of Coloradoi is high altitude desert and gets a lot of making it ideal forsolaf projects. The San Luis Valley around Alamosa includes Great Sand DunesNational Park, wher e prevailing winds blow sand up against the Sangre De Cristo Mountains. Visitor s walking in the park will find that strong sunshine makee the sand too hot for bare feetby midday. No pricr was given by the companies. Xcel owns the utilith , led by CEO Tim It already has one plant in the an 8.2-megawatt solar project that cost abouft $60 million.
That plant’s run by of Md. Special SunPower technology will increase the efficiency of this project by tiltingg panels to trackthe sun. SunPower, which has a major officer in Richmond’s Ford Point factory, is also buildinbg a big power plant in due to be finished by the end of this That plant, at 25 megawatts, will be largerr than this one in Colorado. Right now, the biggestf plant of this type isa 12-megawatt one at Nellisd Air Force Base in Nevadas — which SunPower also The company has a contract for a 210-megawatrt plant for local utility
San Jose-based SunPower (NASDAQ: SPWRA) will work with Minneapolis-based XEL) on the 17-megawatt power facility, to be builtt in Alamosa County by the endof 2010. That area of Coloradoi is high altitude desert and gets a lot of making it ideal forsolaf projects. The San Luis Valley around Alamosa includes Great Sand DunesNational Park, wher e prevailing winds blow sand up against the Sangre De Cristo Mountains. Visitor s walking in the park will find that strong sunshine makee the sand too hot for bare feetby midday. No pricr was given by the companies. Xcel owns the utilith , led by CEO Tim It already has one plant in the an 8.2-megawatt solar project that cost abouft $60 million.
That plant’s run by of Md. Special SunPower technology will increase the efficiency of this project by tiltingg panels to trackthe sun. SunPower, which has a major officer in Richmond’s Ford Point factory, is also buildinbg a big power plant in due to be finished by the end of this That plant, at 25 megawatts, will be largerr than this one in Colorado. Right now, the biggestf plant of this type isa 12-megawatt one at Nellisd Air Force Base in Nevadas — which SunPower also The company has a contract for a 210-megawatrt plant for local utility
Monday, September 6, 2010
We Are Not the Ones We Have Been Waiting For - National Review Online
http://www.nadeznost.ru/er5.html
WomensRadio | We Are Not the Ones We Have Been Waiting For National Review Online But the r » |
Saturday, September 4, 2010
Politicians want answers as rumors swirl NCR to leave Dayton - Puget Sound Business Journal (Seattle):
http://pishtazkhorshid.com/article/Suzlon-subsidiary-to-sell-35-stake-in-Hansen.html
Government officials said word began swirlintg in the community Thursday thatNCR NCR) is planning to move its headquartera and 1,300 employees to the Atlanta area and make an announcemenr about the move this week. NCR Globaol Spokesperson Richard Maton, speaking by phonre Saturday from London, confirmed that an effort was made forOhio Gov. Ted Stricklande and NCR Chief Executive Officer Bill Nutito speak, however they were not able to Strickland’s spokesperson said Saturda that he is “continuing to reach out to the compan y to have a direct conversation.
” When askexd about NCR possibly moving its headquarters out of Dayton, Maton said the compan y does not respond to rumors and speculation. NCR Corporat Spokesperson Alan Ulman responded to question sabout NCR’s plans with an e-mail messagde Saturday that read: “We have no announcement In the past, NCR has been quico to deny rumors of its relocationj and affirm its commitment to remaining in The has repeatedly sought information from the companyu since Thursday, but NCR had not responded to their requeste as of Friday a development department spokesperson said. Montgomerhy County Commissioner Dan Foley said he is frustrated by the lackof communication.
Foley said he has askerd multiplecompany officials, via e-mail, to respon d to the rumors, but has yet to receivde any information. Foley said he, alongg with other county, state and city of Dayton have met with NCR representatives in the past in an effortt tosafeguard NCR’s local jobs. “All that said, nobody has confirmed to me that their statushas changed,” Foley said Saturday. “I have to assume that -- I I very much hope -- they are staying in Dayton, becauss our citizens have helped build that companyg up tobe world-clasx and will continue to do so.
” Rumors have long circulate d that the company would move, however multipls government and economic development officials said they reached a new level in the past few NCR is said to be seeking about 100,000 square feet of officer space in Georgia, . NCR is believed to have lookee at sites in and Columbus, Ga. Based on the squar e footage estimates, the operation couldd house about 300 to 400 according to realestate sources.
Georgia governmenrt and economic development officialsremained tight-lipped on any potential In October, NCR said it woulcd move its Worldwide Customer Services headquarters to an Atlanta investing $15 million and creating more than 900 jobs in the suburbxs of Peachtree City and Deluth. The statse of Georgia provided morethan $8 million in incentives, accordingf to officials. NCR, founded locally in is the Dayton region’s second largesf company, with 20,000 globa l employees and $5.3 billion in revenue in 2008. The which sells ATMs and retail automation is Dayton’s lone remaining Fortunr 500 company.
At one the company had more than 18,000 employees in the Dayton area, but that numbeer has dwindled during the past several As recently as twoyearas ago, NCR had about 2,000 Dayton That number has declined by about 700 worker s in the past several years. In NCR announced it was relocatinf its executive offices to New York City and leasing an entirw floor of the 7 World TradeCenter building. But, on its headquarters remained in In March, the company also told employees it is undergoing a structural reorganization and woule cut an unknown amount of its global workforce.
That same the company removed thelanguage “worlf headquarters” from the sign at its Daytom campus, though it said at the time it was just temporary.
Government officials said word began swirlintg in the community Thursday thatNCR NCR) is planning to move its headquartera and 1,300 employees to the Atlanta area and make an announcemenr about the move this week. NCR Globaol Spokesperson Richard Maton, speaking by phonre Saturday from London, confirmed that an effort was made forOhio Gov. Ted Stricklande and NCR Chief Executive Officer Bill Nutito speak, however they were not able to Strickland’s spokesperson said Saturda that he is “continuing to reach out to the compan y to have a direct conversation.
” When askexd about NCR possibly moving its headquarters out of Dayton, Maton said the compan y does not respond to rumors and speculation. NCR Corporat Spokesperson Alan Ulman responded to question sabout NCR’s plans with an e-mail messagde Saturday that read: “We have no announcement In the past, NCR has been quico to deny rumors of its relocationj and affirm its commitment to remaining in The has repeatedly sought information from the companyu since Thursday, but NCR had not responded to their requeste as of Friday a development department spokesperson said. Montgomerhy County Commissioner Dan Foley said he is frustrated by the lackof communication.
Foley said he has askerd multiplecompany officials, via e-mail, to respon d to the rumors, but has yet to receivde any information. Foley said he, alongg with other county, state and city of Dayton have met with NCR representatives in the past in an effortt tosafeguard NCR’s local jobs. “All that said, nobody has confirmed to me that their statushas changed,” Foley said Saturday. “I have to assume that -- I I very much hope -- they are staying in Dayton, becauss our citizens have helped build that companyg up tobe world-clasx and will continue to do so.
” Rumors have long circulate d that the company would move, however multipls government and economic development officials said they reached a new level in the past few NCR is said to be seeking about 100,000 square feet of officer space in Georgia, . NCR is believed to have lookee at sites in and Columbus, Ga. Based on the squar e footage estimates, the operation couldd house about 300 to 400 according to realestate sources.
Georgia governmenrt and economic development officialsremained tight-lipped on any potential In October, NCR said it woulcd move its Worldwide Customer Services headquarters to an Atlanta investing $15 million and creating more than 900 jobs in the suburbxs of Peachtree City and Deluth. The statse of Georgia provided morethan $8 million in incentives, accordingf to officials. NCR, founded locally in is the Dayton region’s second largesf company, with 20,000 globa l employees and $5.3 billion in revenue in 2008. The which sells ATMs and retail automation is Dayton’s lone remaining Fortunr 500 company.
At one the company had more than 18,000 employees in the Dayton area, but that numbeer has dwindled during the past several As recently as twoyearas ago, NCR had about 2,000 Dayton That number has declined by about 700 worker s in the past several years. In NCR announced it was relocatinf its executive offices to New York City and leasing an entirw floor of the 7 World TradeCenter building. But, on its headquarters remained in In March, the company also told employees it is undergoing a structural reorganization and woule cut an unknown amount of its global workforce.
That same the company removed thelanguage “worlf headquarters” from the sign at its Daytom campus, though it said at the time it was just temporary.
Friday, September 3, 2010
Dierbergs opens first store in Illinois - St. Louis Business Journal:
http://zh-ef.com
The new 70,000-square-foot store is located at the intersection of Northu Green Mount Roadand I-64. It will include all of the featureas ofother Dierberg's as well as a two-lane, drive-through express pharmacy. In First Bank is opening its firstIllinoiw grocery-store branch at the store. Customers will also be able to acces s The UPS Storewithin Dierbergs. "The eastward expansion is excitintg forour company, particularly when we look at studiez that show the strong residentiakl growth in Shiloh and the O'Fallonn area," said Bob Dierberg, president, in a statement. The Greem Mount Crossing shopping center, developed by Dierberg s Markets and CapitolLand Co.
, also includes a 126,00 square-foot Target store and will includes another anchor tenant. When completed, the development will occupy about 325,000 square feet, with an additionakl 13 free-standing restaurant/retail outlots. Tenants that have signed leasews so far includeAppl Cleaners, Custom Cuts, Edward Caldwell Banker Nester Realty, Sammuy Nails Salon, Wells Fargo Home Mortgage, Quizno'sx Classic Subs, Applebee's and Dobbs Tire & St. Louis-based Dierbergs Markets Inc. has 20 stores in the St. Louiw area employing 5,000 It is the 21st largest privately held companyuin St. Louis with $575 million in revenue in 2002.
The new 70,000-square-foot store is located at the intersection of Northu Green Mount Roadand I-64. It will include all of the featureas ofother Dierberg's as well as a two-lane, drive-through express pharmacy. In First Bank is opening its firstIllinoiw grocery-store branch at the store. Customers will also be able to acces s The UPS Storewithin Dierbergs. "The eastward expansion is excitintg forour company, particularly when we look at studiez that show the strong residentiakl growth in Shiloh and the O'Fallonn area," said Bob Dierberg, president, in a statement. The Greem Mount Crossing shopping center, developed by Dierberg s Markets and CapitolLand Co.
, also includes a 126,00 square-foot Target store and will includes another anchor tenant. When completed, the development will occupy about 325,000 square feet, with an additionakl 13 free-standing restaurant/retail outlots. Tenants that have signed leasews so far includeAppl Cleaners, Custom Cuts, Edward Caldwell Banker Nester Realty, Sammuy Nails Salon, Wells Fargo Home Mortgage, Quizno'sx Classic Subs, Applebee's and Dobbs Tire & St. Louis-based Dierbergs Markets Inc. has 20 stores in the St. Louiw area employing 5,000 It is the 21st largest privately held companyuin St. Louis with $575 million in revenue in 2002.
Wednesday, September 1, 2010
Helix Energy to reduce Cal Dive stake - New Mexico Business Weekly:
http://www.dwwork.com/kow21.html
The Houston-based offshore energy company planws to offer 20 million shares in Cal Dive througjh a public offeringat $8.5o0 per share, with an option for underwriterd to purchase an additional 3 million sharesa to cover over-allotments. Helix (NYSE: HLX) also has agreed to sell Cal Dive anadditionaol $14 million worth of shares at a price equao to the offering. Houston-based Cal Dive (NYSE: DVR) has 94 milliohn shares outstanding. When the offering closes and Cal Dive repurchasexsits allocation, Helix’s ownership in Cal Dive will be reducex to 25 percent from 51 percent, accordingt to a regulatory filingv with the .
If the over-allotment optionb is not exercised, Helix’s ownershio will be 28 percent. Heliz expects to use the proceeds for generalpcorporate purposes. Helix shares closed at $11.25 on Friday and were trading at $11.92 mid-morning while Cal Dive shares closee Fridayat $10.09 and were tradiny at $9.85 mid-morning on
The Houston-based offshore energy company planws to offer 20 million shares in Cal Dive througjh a public offeringat $8.5o0 per share, with an option for underwriterd to purchase an additional 3 million sharesa to cover over-allotments. Helix (NYSE: HLX) also has agreed to sell Cal Dive anadditionaol $14 million worth of shares at a price equao to the offering. Houston-based Cal Dive (NYSE: DVR) has 94 milliohn shares outstanding. When the offering closes and Cal Dive repurchasexsits allocation, Helix’s ownership in Cal Dive will be reducex to 25 percent from 51 percent, accordingt to a regulatory filingv with the .
If the over-allotment optionb is not exercised, Helix’s ownershio will be 28 percent. Heliz expects to use the proceeds for generalpcorporate purposes. Helix shares closed at $11.25 on Friday and were trading at $11.92 mid-morning while Cal Dive shares closee Fridayat $10.09 and were tradiny at $9.85 mid-morning on
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