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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
Saturday, October 1, 2011
Thursday, September 29, 2011
Lockheed-Starwood solar plant construction will create many jobs - Phoenix Business Journal:
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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.
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.
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 ... |
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