Monday, October 31, 2011

Brentwood's Whetstone falls in foreclosure - Nashville Business Journal:

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Developers say this is the first major development in Brentwood to go into foreclosure during thecurrenty recession, and the property ownerx had been trying to sell the project. Developer boughg the 157-acre property in August 2005 for $9.4 million. Jamese Cross, who is listed as the developefr of Whetstone who took outthe loans, did not immediatelyy return calls Monday. Homes in Whetstone, which is locatedr off Edmondson Pikein Brentwood, start at The 141-lot development was appointed to a successor trustee in according to Williamson County records.
The development was sold on the Williamsomn County courthouse steps on Thursday tofor $7 million, says Tony a real estate agent and builder who is selling a home in Whetstonwe and attended the courthouse sale Thursday. The Whetstonde foreclosure has not yet been recordefd incounty records. Fifth Third was the property’s lender, makinv at least two loans to Sedonfor $6.1 million and $4.5 according to Williamson County records. Four homes have been built in One of themis occupied, and the remaining thre e are for sale, Marble says.

Saturday, October 29, 2011

University of Hawaii sells $100M in revenue bonds - Pacific Business News (Honolulu):

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The university said it would use the money raiseed for student housing and additional campus and researcyh facilities and torefund $13.3 million of previously issues bonds at a savings of $1.3 The university said it sold the bonds last “By financing these projects with our own revenu e streams, the university is moving with all deliberate speedf to improve the quality of the facilitiew used by our students and faculty, and demonstratinf in the process that we are part of the solution to Hawaii’w current economic challenges,” said UH Presidenft David McClain, in a statement. UH Manoa student housinhg renovations, $16.
5 million; addition to the UH Manoqa Biomed building, $22.5 million; UH Hilo Bookstorwe Campus Center addition, $7 million; UH West Oahu Kapolej campus development, $20 and refund bonds issued in 1995 for the Kauiokahaloa Nui facultg housing project atUH Manoa, $13.3 million. Some moneyu also will be used to buy and convert apartments for UH Hilo studengt housing and for the acquisitioh of a facility for the Waianae Education Center administered by the LeewardCommunity College. Merrill Lynchg & Co. underwrote the Moody’s Investors Service and Standard & Poor’s affirmerd the university’s ratings of and “A+”.
Fitch Ratings upgraded the university’e revenue bonds to “AA-”, citing the university’ds dominant market position within Hawaii, the universituy said.

Thursday, October 27, 2011

First sign of economic recovery will be on trains, ships and trucks - Jacksonville Business Journal:

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Their insight is unique because they view the dailt paceof manufacturers’ and producers’ output and response. Manufacturers’ production reflects the availabilituyof credit, thus illuminating the state of the financiapl industry. And retailers’ ability to sell is a sign of consumert confidence. But despite being a crystal ball that can foresee monthx intothe future, movements within the suppl y chain aren’t always what they appear to be. For instance, an increase in gooda and materials heading out of the warehous might not necessarily meanthat retailers’ demand for productzs is increasing, said The Grimes Cos.
President Michael It could be just that retailer are slashing rates as they find it cheapefr to sell their products than keep them in A similar pace of materials or goods coming into the warehouse from manufacturers and producers to what goes out is a sign that thingws are onthe rebound. “Inventory turns are a good sign, but you have to look at the volumes to determinewhether it’s a healthyy supply chain,” O’Leary said. “They might just be running a tighter supply chain.” It’s not just how things are but what’s moving, said and President Allen Steele.
The recessioj has hit the construction and automobileindustrhy hardest, so a movemenr of materials related to either would be a sign that thing s are turning around. “When we start seeiny everything from furniture totires moving, we’ll have a pretty good Steele said. “But we haven’t seen it.” The positive sign of an increase handling of materials related to the two most affecter industries holds true for therail too, said spokesman Gary Sease. The company has handled half as many auto s and other wheeled equipment and metal as it did ayear ago.
Naturally, an increases in the amount of car loadxs handled by the company would also be a sign that the econom y ispicking up. CSX’s total handling is down by nearly 17 Sease said an increase in intermodal traffic woulr also be a positive sign of renewed consumer spendintg since much of what is imported is tied to consumer Though the recession hit the automotive and construction industry the home goods and luxury electronics industries havebeen hurt, too, O’Leary He’s not sure that consumers’ appetits for such goods will return even when the economy bounces back, so they mighty not be as good a sign of consumee confidence as they were in the meltdown.
The shippint industry’s health is also an excellent barometer of the especially since it connectsthe U.S. economy to the rest of the The industry’s health is poor and worsening, with shipping ratee plummeting and companies docking When ships begin commissioning more noncritical it will be a clear sign that they are rampingb up to handlemore freight, said Jack president and CEO of , a marinre supplier of pipes, valves and fittings.
For those ships to have freightfto carry, the banks need to loosen up said Terry Brown, presiden t of The company’s customers say there is a demand for their products and but credit is not available to make it How much attention logistics and transporgt companies’ customers pay to cutting costs on theirr supply chains can also be a reflection of the healtuh of their operations, said PenserSC CEO Shawn Barnett. When customers spend less time trying to find ways tocut they’ll likely be focusingb more on customer service and expansion. Barnetyt said a sign of companies regaining confidence wouldx be if they returned to their regulartshipping schedules.
Many of his company’s customer s are trying to consolidate theirshippinb lanes, meaning that a supplier may only send its goodw to the supermarket three days per week instead of

Tuesday, October 25, 2011

Graham 4Q profits slip - Silicon Valley / San Jose Business Journal:

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Net income in the fourth quarteewas $3.6 million, or 35 cents per share, a decline of 14.6 percenyt from $4.2 million, or 41 cents per year-over-year. The Batavia-based manufacturer (AMEX: GHM) noted a restructuringb in the period through the elimination ofcertaij management, office and manufacturing The number of jobs cut was not disclosed but resultedf in a charge of which included severance and related employee benefit The restructuring is expected to yield approximately $2.7 milliob in annual cost savings. Fourth-quartert net sales were $24.8 million, up 9.2 from $22.8 million in the prior year’s fourtjh quarter. Full-year net income in fiscal 2009was $17.5 million, up 16.
2 percent from $15.0 million in fiscal 2008. On a per shard basis, net income in fiscal 2009 was $1.7q compared with $1.49 in fiscal a 14.8 percent improvement. For the year endexd March 31, 2009 revenue was a recordf $101.1 million, 17 percent higher than $86.4 million for the fiscal year endedMarch 31, 2008.

Sunday, October 23, 2011

Andrew C. Florance Executive Profile

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Mr. Florance is the recipienr of numerous awards, including Transwestern's 2007 Publicf Company TrendSetter of the Year Awared for revolutionizing the way the commercial real estateindustrg gathers, analyzes and uses property and market information. He also receivec Ernst & Young's Entrepreneur of the Year awarc in 2000 for pioneering work in real estate informatiojn services and the National Association of Industrial andOffice Properties' prize for a white paper that examined the impacts of the 9-11 traged y on tall and trophy office buildings. As an industrty leader, Mr.
Florance also helped develop concepts related to thefederall government's use of real estate for former Vice President Al Gore'sx National Performance Review. The Federal Controll Board of the District of Columbiaa alsonamed Mr. Florance to a task force responsible fordevelopinbg Washington, DC's strategic plan for real A graduate of Princeton University, Mr. Florance serves on the Board of Trustees ofThe St. Andrewzs School and is a member of the boarcd of the American RealEstate Society, an association of real estated thought leaders. Recent News About Andrew C. Florancwe  [Forbes.com] **All Executive profile data providecd byDow Jones & Co., Inc.

Friday, October 21, 2011

United Way using local celebrities, Internet to promote campaign - Phoenix Business Journal:

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Called “Live United,” the campaign’s goal is to raiss $53 million to help fund social service programs acrossdMaricopa County. The “Live United” message is aimefd at bringing thecommunity together, said Marcia the group’s chief development “This is really a call to The whole point is to give the communitu a chance to get she said. Valley personalities lending their support includw shooting guardRaja Bell, cornerback Rodericm Hood, news anchor Katie Raml, and proprietot and chef Eddie Matney.
Visitorss to the campaign’s Web site can learn more about the professional lives and involvement in the United Way through an interactive quizcalled “How I Live “Look at the times we are living said Matney. “I am very fortunate and very It’s our responsibility as members of the community to be a part of the Unitex Way and try and make a Foundedin 1925, Valleuy of the Sun Uniterd Way works with more than 100 funding programs to promote educational preparednessw for youngsters, job training and help families in The campaign’s goal is abourt $500,000 more than the recordx $52.
5 million raised last With demand for services up and consumer s pinched by the economy, executives recognized the fundraising environment is a bit tough thesed days. “We are being pretty conservative this year. I thinmk it will be a challengee to reachthat goal, but I also thinik our community can do Mintz said. As part of the campaign, volunteersd and members of the United Way Loanedf Executive program are visiting more than 700 businessese across the Valley to talk abougt the availability of services and the need to fund While delivering aserious message, the campaign aims to be fun and organizers say.
“Live United” includes YouTube and the campaign’s inter­active Web site offerds chances towin T-shirts. Volunteers also will be promoting the causre atcommunity events, with the goal of alerting peoplse to the presence of United Way in the “We thought this was a reallyy creative idea. While giving is really a if you can’t give, get Mintz said. Valley of the Sun United Way:

Tuesday, October 18, 2011

Employers' health care costs expected to rise 9 percent - Birmingham Business Journal:

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The 9 percent projected cost increase is slightly lowe r thanthe 9.2 percen increase in 2009 and 9.9 percen increase in 2008, according to Pricewaterhouse Coopers. Despit e the slowdown, medical cost increasezs continue to outpace inflation and wage One of the reasons medical costs continue to climb is that American worker s are accelerating use of health care service in anticipation of losing theirjobs and, potentially, their health insurance, the report suggests.
Rising unemployment, growing numbers of people with littler or no insurance and a growing percentage of the populationj on Medicaid further ramp up medical cost trends the figures actuaries use to set futurse healthinsurance premiums. Coupled with big decline s in corporate profits, employers surveyexd by Pricewaterhouse Coopers said they will push more of the cost s of health insurance to their workers in while expecting workers to take more responsibilit y for managing theirpersonal health. The national trends suggest most employers and employees will pay far more than thosre in the purchasing pool run by the CaliforniaPublivc Employees’ Retirement System.
The pension fund approved an overallp 2.9 percent increase in health care premiumz for membersin 2010, the lowest rate hike in 14

Sunday, October 16, 2011

The Life and Death of Vincent van Gogh - CBS News

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The Life and Death of Vincent van Gogh

CBS News


His paintings are among the most well-known in the world, just like the story of his life and death: Vincent van Gogh was a troubled genius who killed himself. But now the authors of a biography say their exhaustive investigation strongly indicates he ...



and more »

Friday, October 14, 2011

BioSante to buy Cell Genesys for $38M in stock - Denver Business Journal:

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BioSante (NASDAQ: BPAX) will pay 0.1615 of its own commonh shares for each share of CellGenesys (NASDAQ: CEGE). This deal shouls close later this year, likely in the late third or earltyfourth quarter. In the firs t quarter, Cell Genesys lost $8.7 or 10 cents a share, narrowe from a loss in the same perioed last yearof $22.6 million, or 29 centsz a share. The company had been exploringfstrategic alternatives, including merger with or acquisition by anothefr company, additional restructuring, repurchase of additional amounts of convertible notes or allocation of its remaininyg resources toward other biopharmaceutical producrt areas. Cell Genesys had hired to help it figur outa strategy.
The company already cut abouyt 95 percent ofits staff, from 290 person s to 16, by eliminating all research and development, clinical and regulatory activities. BioSante, baseds in Lincolnshire, Ill., focuses on drugs for sexualp health.

Wednesday, October 12, 2011

U.S. jobless rate hits 9.4 percent - Portland Business Journal:

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The BLS said the unemployment rate continuedto rise, increasinb to 9.4 percent from 8.9 percent. Steep job losses continuedf in manufacturing, while declines moderateed in construction andseveral service-providing industries. The number of unemployec persons increasedby 787,000, to 14.5 millioh in May. Since the starft of the recession inDecember 2007, the numberf of unemployed people has risen by 7 and the unemployment rate has grown by 4.5 percentagw points. Unemployment rates rose in May for adulttmen (9.8 percent), adult women (7.5 percent), whites (8.6 and Hispanics (12.7 percent). The joblessx rates for teenagers (22.7 and blacks (14.9 percent) were little changedr over the month.
The unemployment rate for Asians was 6.7 percent in May, not seasonally adjusted, up from 3.8 percen t a year earlier. Among the unemployed, the number of job losers and people who completed temporary jobs roseby 732,00 0 in May, to 9.5 million. This group has increasefd by 5.8 million since the start of the The numberof long-termj unemployed – those jobless for 27 weeks or more increased by 268,000 over the month, to 3.9 and has tripled since the start of the The BLS’ May reporf said the jobless rate for business and financial operations hit 4.6 up from 2.7 percent last year, and the rate for professionalk and related occupations hit 4.2 up from 2.5 percent last year.

Monday, October 10, 2011

Downtown Sheraton growing its own herbs - Denver Business Journal:

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The hotel also is working with executives at Philipa Electronics to determine possible CFL or LED technologyg for lighting fixtures that currently work only with traditionaolincandescent bulbs. Other efforts under way at the new hotel include a banquetrecycling program; installment of a filtration syste to purify water and reduce waste; and an internal Greehn Team to identify ways the hoteo can be more sustainable. “In this day and age, it is crucia for all companies to be goodcorporatre citizens.
Since well before the hoteo opened, we have been identifying ways we can reduc our carbon footprint while also operatingg asa first-class hotel,” said Leo general manager of the Sheraton Phoenix Downtown. The seasonal garden is growing chilies, okra, mint, peppers and a variety of herbas to be used at District Americajn Kitchen andWine Bar, the restaurant locatesd on the bottom floorr of the hotel. Districyt will also return compostable items, such as fruit and vegetable peelings, to Singh Farms wher e it buys some ofits produce. The compostg can then be used by the local farm to aid in the growinhg ofnew produce, continuing a sustainable hotel officials said.

Saturday, October 8, 2011

Rhythm developer latest to sue would-be buyers - Denver Business Journal:

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, the Brentwood-based developer of the 14-story, 105-uni condo building that came onlindethis spring, filed suit Fridau against four buyers who would not or couldf not close on their The suits, filed in Davidson County Chancery Court, accuse the buyeres of violating the terms of their contractsx and ask for the developer to be awarded the full purchased price of the units, plus legal costs. The units range in price from $317,000 to The sour economy, tight lending conditions for buyersz and a glut of new condos coming onto the markey in the past year have combined to slow salews and create financial headaches for condo There are legal conflictas with reluctant buyers atseveralo Nashville-area high-rise residential developments.
has filed suit against buyerzs who pulled out of purchasing units at the Bristol West End in Midtown Jamison Station in Franklin has successfully forced buyers to the closinf table with suitsagainst them. Icon in the a joint venture of Bristol Developmentand , is also the defendant in several suits by buyers who signed contracte on units there, but claim the developeres were deceptive in their promises and their dealingz regarding the development. Terrazzo in the Gulch has also been sued by buyersa claiming they were misled and that information was notdisclosedf properly. Terrazzo’s developer is Crosland Tennessee.
Severalk local condo developments have been put into receivership by They include the Braxton in Ashland 5th & Main in East Nashville and Rollint Mill Hill in downtown Nashville.

Wednesday, October 5, 2011

House unveils Gulf oil spill fine proposal nearly identical to Senate bill - al.com (blog)

http://www.conyersschoolofballet.com/store2/gloves-kasco-pairs.html


al.com (blog)


House unveils Gulf oil spill fine proposal nearly identical to Senate bill

al.com (blog)


(AP Photo) WASHINGTON -- House lawmakers from across the Gulf Coast today unveiled a compromise bill on oil spill fines, which is nearly identical to legislation already through committee in the Senate. The bill differs in some respects from the Senate ...



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Monday, October 3, 2011

Jaguars still trying to find offensive identity - Boston Globe

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Boston Globe


Jaguars still trying to find offensive identity

Boston Globe


New Orleans Saints quarterback Drew Brees (9) drops back to pass during the first half of an NFL footb »

Saturday, October 1, 2011

The greening of Catawba Co. - Charlotte Business Journal:

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“It’s smart to develop a new economy bases onrenewable energy,” he says. Millard recently spoke with the Charlotte Business Journal aboutthoss goals. Edited excerpts of that conversation You have added a goal ofrecruiting renewable-energhy companies. What are the initial steps in attaining that goal We need to determine the appropriatw opportunities withinthat sector. For example, our expertise in optical-fibefr manufacturing may give us skill sets or process advantagew that may help us to be more competitiv e inthe silica/photovoltaic manufacturing markets.
We need to determin e where we can be the most competitive and leave the rest for Are there any incentives available specific togreebn industries? There are several. Possiblu more importantly are the opportunitiese provided by programs such asNorth Carolina’s Renewable Energy Portfolio Standards (which call for power providerz to get 12.5% of their energy from renewable sourcesw by 2025) and examples such as Duke Energy’s solar program. These are clear signals the market is openint upfor renewables. I think we’ll be developin other local and state incentivesx as we learn more about theopportunities we’r seeking and the best way to attrac them.
Why in Catawba County We’re constantly scanning the horizon for new opportunities to creatre investmentand jobs. If we develop targeted encourage our existing supplier base to look for opportunities withinthat market, trainj our manufacturing-oriented work force within that sector and sell effectivelyh to the sector, we can further diversifyt our economy and fulfill the needs of thoss manufacturers. We can do something to help our grandchildren at the same Could this eventually replace the companies that have closeds or downsizedin furniture, textiles and fiber-optics? We’re trying to develop opportunities for all of our companiexs to stay competitive.
Diversified Composites, a Hickorty company, is supplying composite support membersfor wind-turbiner blades being sold around the world. We want to providwe opportunities for existing companies to develop products in new ways for new PPG in Shelby has become a new companyu again in recent months because of thissame