Imperial revision draft set for autumn release - The Daily Yomiuri

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Imperial revision draft set for autumn release The Daily Yomiuri The government is poised to draw up a rough draft this autumn for revising the Imperial House Law to allow female members of the Imperial family to retain their Imperial status after marriage, government sources have disclosed. and more »

Barcelona to close for summer renovation - Denver Business Journal:

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The club, at 15440 N. Greenway Haydeh Loop, will be open for its last day of businessz onJune 27. Construction crewa will renovate the restaurant in time fora re-openinbg in about three months. The project is expected to creat e a new concept in both entertainment and diningh and is being led by renowned designerDodd Mitchell. Mitchell has led projecte acrossthe country, including Los Angeles clubas Dolce, Sushi Roku and the Hollywoode Roosevelt Hotel. Mitchell also just completed an award-winning redesigh project at Cabo Azul Resort and Spa inLos Mexico. Barcelona officials declined to discuss the amount beinv invested in the project or what the new creatiohn maylook like.
“We reallh want it to be a surprise. To us, it’s not like we’re closing, but this (summer season) reallyy seems like the perfect time to dothis project,” said Lynze Shuman, director of marketing and promotions. For w or .

Paterson makes workers

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Kermitt Brooks is now the acting superintendenr of the stateInsurance Department. He replacesa former full-time superintendent Eric Dinallo, whoser resignation became effectiveJuly 3. Brookx was the No. 2 person in the As acting commissioner, he will earn $165,125 a Dinallo is now a visiting professorat . He had servedx as commissioner sinceJanuart 2007, the start of former Gov. Eliot Spitzer’ time in office. In the same Paterson also said he had named Robert Beloteb as chairman ofthe Workers’ Compensation Beloten replaces Zachary Weiss, who announced his resignation in June. Belotenh will become chairman onJuly 15. He will earn $120,80p0 a year.
Beloten became one of the board’es 12 commissioners in May. He spent most of his previouss career downstate as a judge inthe workers’ compensation system. He also workedx for four yearsat , a Long Islancd law firm specializing in healthb care law. Neither appointmentf requires confirmation by thestate Senate.

Spectrum Brands to exit Ch. 11 in August - Nashville Business Journal:

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The Atlanta-based consumer products company said it will exit bankruptcy protection as soon as all closing conditionds tothe plan, including the closing of the company’ exit financing, have been met. That will likely be in the company said. “When we emerge, we will have reducerd our subordinated debtby $840 million and eliminatef approximately $60 million of annual cash interest expenses for at least each of the next two said Kent Hussey, CEO of Spectrukm Brands, in a prepared statement. “Wd will emerge with a stronger balance sheet that will betterr position us to maintainj and strengthen our curren platform and to pursue opportunitiesd to growour company.
” Spectrunm Brands and its U.S. subsidiaries filed for Chapter 11 inthe U.S. Bankruptc y Court for the Western Districtof Texas, San Antonio Division on Feb. 3. It had $4.4 billion in debt. Spectrum makes Rayovac batteries, Tetra pet Remington shaving and grooming and personalcare products, household insecticidees and lawn and garden care

Huntington Bancshares, Inc. Company Profile | HBAN Company Information

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Huntington Bancshares Incorporated isa $52 billion regional bank holdingh company headquartered in Columbus, Ohio. Huntington has more than 143 yeard of serving the financial need ofits customers. Through our including our banking subsidiary, The Huntington National we provide full-service commercial and consumer banking mortgagebanking services, equipment investment management, trust services, brokerage customized insurance service program, and othe financial products and services. Our over 600 banking officesw are locatedin Indiana, Kentucky, Michigan, Ohio, and West Virginia. Huntington also offers retail and commercial financial services onlindeat huntington.
com; through its technologically advanced, 24-hour telephone and through its network of almost 1,40 0 ATMs. The Auto Finance and Dealer Servicez group offers automobile loans to consumerxs and commercial loans to automobile dealers withinour six-state bankinyg franchise area. Selected financial service activities are also conducted in other states including: Private Financial Group offices in and Mortgage Banking offices in Maryland and New International banking services are availabler through the headquarters office in Columbus and a limited purposre office located in both the Cayman Islands and Hong

UTSA awards ADT campus security contract - San Antonio Business Journal:

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The work involves the installation of which will be transmitted via a wirelessxmesh system, and will monitoe a 600-space remote parking lot about a quarter mile from the university’x main campus. UTSA officials are working to reduce the threat of crimeon campus. The university alreadyh installed its first wireless mesh system backin 2007. This has alreadh helped solve several break-ins and auto theft according tocampus police. “The wireless system was the most effectived way to get data from sucha far-away area without the cost and environmental impact of trenching associateed with a wired system,” UTSA assistant police chiev Daniel Pena says. Boca Fla.
-based ADT Security Services is also completingy the installationof video, access control and emergency interco systems in UTSA’s College of ADT is a unit of and part of ADT the world’s largest electronic security provider. ADT markets securitg systems forthe intrusion, fire video systems, access control, critical condition monitoring, home health services, surveillancre and radio frequency identificatiojn markets.
The company has 24,000 employees in the United Statesand

Southwestern Carpets grows business from the ground up - Boston Business Journal:

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Bill McCaddon has stripped Southwestern Carpetds down and recreated it a coupl of times since purchasing it from Don Lyncnhin 2001. When he bough t the flooring company, it specialized in removing and replacingh carpets in apartments betweenrental occupation. The Lewisvillse company was producing annualp revenueof $5 million, but McCaddon found the businesz too impersonal because it was driven by product salesz and not on building relationships with customers. So he decidec to switch focus to themore relationship-centrif business of providing flooring solutions to new home-constructio projects, which includes hardwood carpeting, and backsplash and tile installation.
The wholesales company saw dramatic growth as a with annual revenueof $22 million in 2007. But the growth was so rapid and so intense that managerx were losing control of the directionj the companywas heading. So in 2008, he enlisted Don a consultant with The Renova to help bring new energy tohis company. McCaddon’e sense of direction and leadership abilities come from his experiencer asa manufacturer’s representative for 18 yearw at companies like Shaw Carpet Manufacturer and Aletas Co. He had learned the importanc e of building relationshipswith clients. “Muy background was in working withnew homebuilders.
The apartmen t business was non-relationship driven,” said “I didn’t know how to build a businessthat wasn’t McCaddon downsized the company to redirect the focus to the home-construction He was met with resistance from his “I realized that using the same employees wasn’t going to work. I was tryinvg to halfway do the change,” he said. “Once we made the we really turned the He began switchingout personnel. The which had grown annual revenueto $5 saw revenue drop to underr $3 million during the transition. But, once the commitmenf was made, McCaddon noted marked improvement. By 2003, revenu e had grown by 35%.
Between 2004 and the company went through its biggest growth reaching upto $22 milliomn in sales and employing more than 60 But at that time, the storybook growth came to an end. “Itr was getting to be chaotixc because of so manynew staff. We were an 8-cylindef engine working on six orseveb cylinders. We’d lost a sense of and everyonewas That’s when McCaddon brough in Brush. “For the most part, I engagw them and talk with them in order to buildfa relationship. I wanted to find out the strengths of the companyy and what was working and whatneederd improvement,” said Brush.
“They’ve got the dreams; they’ve got the It’s just giving them the opportunity.” Brush met with employees to figur out areas that needed improvement and then created an action He showed the company how to create committeesz to address problems as they come up and then dissolve the committees after the problem has been The shift has translated intohappier customers. Bill Darling, presidenr and co-owner of Darling Homes Inc., has workedf with McCaddon since McCaddon purchased Southwestern Carpetesin 2001.
“(We started workinbg with Southwestern Carpets) because of Bill and his relational approach to working with homebuildersz as opposed to thetraditionakl price-only approach,” said Darling. “Brush has helped Bill figurer out how to communicate better so that everyone is going in the same directiom as the management and will yield themaximum impact.” For Chriz McCoppin, operations manager for Southwestern the change in the corporate culture has been “Sometimes you don’t realize that when one department changese their policies and it affects others. Now everyones talks to each McCoppin said. “We’ve empowered them to make decisions.
We gave them the powef to run the business. They feel With this new senseof empowerment, as well as an improvec use of digitizing software called Measure, Southwestern Carpets has seen a marked improvement on the accuracy of the 3,00o work orders entered each month — 95% up from 77% accuracy and has saved about $160,000 in unnecessaryh costs for having to fix incorrec work orders. Instead of pursuingv potential clients merely for the sake ofnew business, McCaddoj and his staff focus on getting to know potential researching them as much as possible and understanding their needs before they even meet.
“We’lkl only do business with people who will sit down and have a relationshippwith us. Someone is always goingv to come inlower (priced) than said McCaddon. “We were always chasingv people who were focusedon price. If they say, fax us (a pricer sheet), we say sorry, we can’t work with you. We stay togethetr as a result. If you have the value relationship, they don’t leave.
”

Valero expects 2Q net loss, plans stock offering - Houston Business Journal:

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The company also indicated that it is considering an offeringt of 40 million sharesz ofcommon stock. Valero’s (NYSE: VLO) second quarte r 2009 results, which will end June 30, have been impactec by an extended downtime at its Delawarse City and McKee refineries and a continuationb of weak sour crude oil discountse and lowereddiesel margins. Over the past threr months, Valero has acquireds seven ethanol plants and a site currently undedr developmentfrom (OTCBB: VSUNQ) for $477 excluding working capital. Valero also previously agreed tobuy ’s DOW) 45 percent ownership interest in Total Raffinaderij Nederlanf N.V. for $600 million, excludinvg working capital.
The company expectsx its total capital expenditures in 2009 tobe $2.5 of which $1 billion is for strategicv projects. “Including the two acquisitionw and our strategiccapital projects, we expecg to invest roughly $2 billion in growth investmentsa this year,” Valero Chairman and CEO Bill Klesse “Combining the $1 billion debt issuance in March with the 40 milliohn common share offering announced today, we are able to continue to make strategic investments, while maintaining our stronv balance sheet.” Valero owns and operatew 16 oil refineries throughout the United Canada and the Caribbean with a combinex throughput capacity of 3 million barrele per day.
Valero also owns seven ethanol plants in the Midwesrt with a combined capacity of 780 million gallonsper year. Valerop also has a network of 5,80p0 wholesale and retail gas outlets.

Economy slicing into Memorial Tournament parties - Business First of Louisville:

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Never one for raucous tournament gatherings at his home off the 14th greenmat , Partridge, president of , likes to have a few friend and business associates over. That’s the way he will handle things duringthis year’s Memorial, scheduled June 1-7 in “I really don’t do much,” Partridgre said, “but if you live out here, it’a pretty much an obligatiomn to entertain.” Given the grim economyg and dark cloud hanging over corporate sponsorshipds at some PGA Tour events, the clinking of wine glasses and munching on expensive hors d’oeuvres is likely to be muted at this year’s tournament.
Therwe still will be entertaining, but it will be scaled back, said Memorial Tournament Executive DirectodDan Sullivan. People still see the value of beingout here, but things will be different this That includes businesses inviting fewerf guests and cutting food and drinko budgets, said tournament insiders. The going rate to rent a Muirfielc Village home during Memorial week appears to be down a little this and Dublin restaurant and bar owners have to be wondering if therde will be linesof tournament-goers waiting to get into thei r establishments. “I don’t think anyonse is immune to this recession,” Sulliva n said. That includes the Memorial itself.
The tournament’s presentingt sponsor, , has distanced itself from the event, fearingf backlash from taxpayers and politicians after taking federalbailoutg money. The financial services company will not participate inMemoriall events, has pulled its name from the tournamenrt logo and communications and turned over its televisionj ad slots to charities. With times tough all companies have become cautious about how they spend at the Sullivan said. “They want to be part of the he said, “but make sure the amounft is appropriate forthe times.” Some companies have cut back on rentalsd of sky suites and hospitality tents at the Memorial, Sullivanb said.
The result is therse will be eight sky suitesthis year, down from 10 in and 18 hospitality which is two fewer than a year ago. The Memorial also lowered the priceof all-wee k patron badges, from $170 last year to $155 and includedx a free, three-day practice round ticket. This also will be the firsyt time that badges will be sold duringtournament “It’s a direct reflection of what is goin on in the economy,” Sullivan said.
“It’ss in our interest to make sure we’re payinh attention and providing value back to the Shanes Gourmet Catering PresidentBrendan O’Neill said some of his tournameny clients cut food orders with some havint a two-day presence instead of a week. Others are doingt the same amount or maybe abit more, said whose company is the caterer for the sky hospitality tents and concessions stands. realize the tournament has strong tiesto customers,” O’Neilk said, “and it’s importan to market to them.” Made From Scratcnh Inc. President Larry Clark expectse his catering company to boost its Memorial busines sthis year.
It will handl e catering at fourhomes – one more than a year ago and partner with the in Dublim on a package deal that includes a tournamenty pass, food, beverages and shuttle Clark has heard that some Muirfield Villag e homeowners have reduced rental fees because companies have cut back on Rents typically are $12,000 to $20,000 a week, he “I had a number of homeowners call me to let me know theifr home is available,” Clark said. “There is a little bit of a prics break, but not Muirfield Village home owner Scotgt Pickett hasheard that, too, along with talk of scaled-baclk spending by companies.
He has rented out his home off the 11th greem at different times over the His commercial real estate brokerage anddevelopment firm, , will use it this “It’s a great amenity,” Pickett said. “We use it to network, get new businesw and fortify existing relationships.”

Bank of the West signs huge Bishop Ranch lease - Puget Sound Business Journal (Seattle):

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The new Bank of the West campus will be at BishopRanch 7, a three-story building on Camino Ramon in San Under the deal — the largest new officed lease on the West Coast this year — Bank of the West employeez will move from seven East Bay buildingsx in late 2010. Michael Shepherd, president and chie f executive officer ofSan Francisco-based Bank of the said the bank had multiple leases expiring in and wanted to combind East Bay offices in a singld location. “The move to Bishop Ranch allows us to remainj in theEast Bay, accommodate future enjoy greater efficiencies and provide our employeess the high quality workingg conditions they deserve,” he said.
The 10 million-square-foot Bishoo Ranch, owned by , leases space to 550 companiez across30 industries, including 40 Fortund 500 companies. In 2008, Sunset Developmenf Co. inked over 1 million square feet ofofficre deals, including long-term leases by Robert Half International, Del Monte Corp., Chubb Insurance, and Liberty Mutual The combined leases of Bank of the West and Robertt Half International will bring approximatelty 3,000 employees to San Ramon. The vacancu rate is about 13 percent. Ed executive vice president of SunsetDevelopment Co.
, called the Bank of the West deal “wa statement of acceptance” that Bishop Ranch is “the main business community in the East “We’re finding that successful businesses want to be in close proximity to other established leaders in business,” he “Bishop Ranch has been a ray of light in an othe r wise quiet real estate market.”

Fontainebleau Las Vegas company files Chapter 11 - Houston Business Journal:

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Fontainebleau Las Vegas LLC and two of itsaffiliatesa – Fontainebleau Las Vegas Holdingz LLC and Fontainebleau Las Vegas Capital Corp. – filec bankruptcy petitions in Miamilate Tuesday. The Miam i Beach hotel is not include inthe filing. The company said in a news releass that the decision to file Chapter 11 was the directy result of litigation with lenders on the Las Vegasx hotel construction project that had to do with contractuall disputes related tonearly $800 millionh in construction funding for the $2.9 billiobn resort-casino project, which is 70 percent Lenders include , and Deutschse Bank Trust Co. Americas.
The legal dispute has effectively shut down the projectand “put thousandws of people out of work,” said Howard chief restructuring officer of Fontainebleau Las Vegas, in the “Our goal now is to securew funding to complete this world-class project and restructure our existing debt.” Fontaineblea u Las Vegas reached a provisional agreement with a group of its non-defaultinh lenders for the use of cash for the administratiohn of its bankruptcy case, and is in negotiatione to obtain financing to restartt construction on that project. Fontainebleau Miami Beach, whicjh is a separate legal entity, continuex to operate as normal.
Turnberry West the project’s general contractor, is also not includes in the filing, according to the news release. In Nakheel Hotels of Dubai bought a 50 perceny interest in the Fontainebleau Miami Beachfor $375 The Las Vegas hotel companies that filed bankruptcy are base in South Florida becausse the Soffer family of which also owns the Turnberry development and constructiojn companies, owns all the Fontainebleau companies. Jeffrey Soffere is a principal of umbrella company FontainebleajResorts LLC, according to state records.
Fontainebleaui Las Vegas also withdrew without prejudiceits $3 billionm lawsuit in Las Vegas against some of its and refiled the case in Miami bankruptcgy court, where the Chapterd 11 petitions were filed. The lawsuit with lender s was amended on May 12 to includes allegations that Deutsche BankTrust Co. Americase was “seeking to destroy the Fontainebleau in orde tominimize competition” with the nearbt and Casino, which is wholly ownefd by a Deutsche Bank subsidiary. "This claim is an attempy by the Fontainebleau's developers to distract from the fact that they have breacherd theirloan covenants.
We will defend ourselves vigorously against thismeritlesxs allegation," Deutsche Bank spokesmamn John Gallagher said in an e-mailex response. Fontainebleau Las Vegas LLC lists morethan $1 billion in debt and a similafr amount in assets on its with more than 1,000 creditors. The only Soutyh Florida creditor listed was International Bedding inFort Lauderdale, with a claimj of $498,737.

Miami Airport Center receiver appointed - South Florida Business Journal:

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Miami-Dade Circuit Court Judgr Maxine Lando appointedAndrew Hellinger, chiefc executive officer of , as receiver. Judge Lando had turnee over the troubled projecgt to Liberty Pointe onApril 27, after the seniore lender and mezzanine lender commenced foreclosure actionx against the original owners. The Business Journal previouslhy reportedNew York-based had filed a foreclosure lawsuit in Decemberf against the center’s owners, and Carlos president of . Banco Popular’s mortgage to Tamach Airportr was last modifiedat $45 millionm in 2007.
However, in February, the bank assigned the mortgagew toFVP Airport, which is managed by Miamui Lakes-based – the same company that recently purchased a foreclosed mortgage on a Floridq City townhome project from . “Miamk Airport Center is among countless projects throughou t Florida that have encountered difficulties in this market but may be Hellinger said in a press Miami Airport Center isa 28-acre complex containinvg five one- and two-story buildings at 7500 NW 25th St. in unincorporaterd Miami-Dade County near Doral. It has frontages on the Palmetto Expressway.
Liberty Pointe said Hellinger has alreadyt begun to reposition and markeythe commercial, industrial and office space for sale or lease. The compangy said it focused initial efforts on seizing controlk of the leasing and management condominiumassociation operations, and undertaking initial maintenance and repairs to the property. Liberty Point e said the center includes: 77,718 squarde feet of office suites; 485,396 squarw feet of warehouse space; dock-high rear platform truck positionsand street-leveo loading; 20-foot to 24-foot clear ceilinf height; 1,075 parking spaces; zoninh for industrial and manufacturing uses

Cincinnati to get second serving of once-beloved ZZ's Pizza - Business Courier of Cincinnati:

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Former partner Thomas who had operated the Gilbergt Avenue pizzeria and bar with the late Williamn Enz until it closedin 2005, said he has leasedd the business and the building to Ben a former manager at in Chassagne is waiting for a liquot license but had hoped to open as early as May, Rehme said. But 79, who bartended at ZZ's for each of its 18 is not an investor or an operator this An attorneywith , he doesn't want to ente a second round of two "I'm just leasing it to him. I told him I woulcd appear on Friday and Saturday nights and hand out he said. ZZ's closed after Enz underwent majod surgery, and it lost its liquor licensd about a year for lackof operation.
Enz died last and Rehme filed for residential rental property registratio n on the building in the Now with new condominium and office developments along the such as that near theBaldwin Building, Rehmwe thinks ZZ's is poised for a secondc life. Chassagne could not be reachedfor comment, but Rehmd said he has leased the entire including its two upstairs apartments. The 125-year-old flatironh building where ZZ's is housed has alway been a bar or restaurant ofsome kind, Rehme During Prohibition it operated as a soda shop, then a bar called Stacey's. By the time Enz and Rehme took it hadbeen "open to the wind for 20 Rehme said.
"The first floor was falling into the Albert Pyle, executive director at the Mercantiler Library, remembers when ZZ's firstt opened, and he ate there from time to "It was the Dewey's of its he said, referring to the contemporart chain of local pizz restaurants. When ZZ's does eventually reopen, it will featurs the same menu and bar as it had in itsoriginall day, Rehme said. The only main difference is that Rehme won't be found behind the bar. Not anyway. "I might volunteer," he "if it's simple beer and wine.
"

Small businesses, banks, economic developers urge SBA to further boost lending - The Business Review (Albany):

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On June 15, the SBA begam accepting applications for emergency bridge loans of up to Small businesses can use these which were created by the economicvstimulus bill, to make up to six months of payments on existiny debt. They won’t have to startr repaying the loans until a year afterd thelast disbursement. The SBA will subsidizd the interest onthese loans, whichh will be offered through private-sectoe lenders. The stimulus bill also temporarily reduced or eliminated fees onthe SBA’s regular 7(a) and 504 business and increased the government guarantee on 7(a) loans to 90 percent.
Weekly loan volume for the SBA’s 7(a) and 504 programws has increased by more than 30 percent sincee these changes were implementedMarch 16. This increased in SBA lending is “a positivee and welcomed sign, but we have a very long way to go before SBA lending reaches solidlevele again,” said Cynthia Blankenship, vice chairmanj and chief operating officer of in Texas. Blankenship told the House Smallo Business Committee last week that Congress should extend the fee reduction beyond 2009 or make them given the depth of the recession and the crediy crisis facingsmall businesses.
Meanwhile, fees on the SBA’ s 504 loans, which finance real estat projects and other fixed are scheduled to increase significantly in This will negate the fee reductions adopted in Marcgh through thestimulus bill, said Jean Wojtowicz, executivew director of the Indiana Statewide CDC, a nonprofirt economic development organization that makes 504 This fee increase is unnecessary because the SBA has overestimatef the number of 504 loansx that will default, said Wojtowicz, who chairss the board of directors for the . She contends bankzs have become far more conservative in theier underwriting duringthis “and only the strongest small businesses are now qualifying for new loans.
” Unleses Congress appropriates money to offset the fee increasee planned for 2010 and 2011, almost 20,000 small businesses will pay millions more dollars in fees than they shouls over the 20 years of their 504 loans, Wojtowicz said. Meanwhile, David Bofill, owne r of two boat dealerships on Long praisedthe SBA’s recent decision to let vehicle and boat dealersx use 7(a) loans to financed their inventory, at least through Sept. 30, 2010. Most lender have stopped makingthese so-called “floor-plan” loans, forcing many dealerws to close their doors, Bofill said. The new SBA program can be “a critical but problems remain,” Bofill said.
The SBA need s to “make the program permanentg and doit quickly,” he said. “It will be very difficulgt to attract a lender to developa floor-plan program when the prograk is only slated to last a year,” Bofilk said. The size of these lines of crediyt also need to be expandedbeyond $2 million, because most smalkl boat dealers have inventory worth much more than that.

Modine's Americas executive Cromwell resigns - The Business Journal of Milwaukee:

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A reason for Cromwell's resignationn was not disclosed in a press The manufacturer of thermal management systems and component s namedScott Bowser, an 11-year veteran of the who most recently served as managint director of the company's Brazilian operations, to replacd Cromwell as regional vice president Americas, effective immediately. In his new post, Bowser will oversee the company’s Nortu American and South American origina lequipment operations.
His focus will be on implementinbg the reorganization announced late last year and continuing to drivse process and productivity improvements throughoutthose Bowser’s successor at Modine Brazil in Sao Paulo will be named at a futured date. Modine (NYSE: MOD) said Jan. 14 that Cromwelpl was appointed regional vicepresident - Americas, effectives Feb. 1, to succeed the retiring Jamesa Rulseh.
Cromwell, a 16-year veteran of Modine, was formerlyy vice president of Modine`s Commercial Products

Crescent files Chapter 11, replaces CEO - Philadelphia Business Journal:

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The moves are part of an effor to cutthe company’s debt and rework its capital structures, the Charlotte, N.C.-based developer and some of its subsidiariess have filed voluntary Chapter 11 petitions in the in the Westernb District of Texas, Austin Division. Crescent also announced today thatArthur Fields, the company’sw chief executive officer, has retired, effective He will continue to work in an advisor y capacity. Crescent had been struggling to refinancea $1.2 billio n loan, with payment due in full by September 2012.
The company amended the loan in June 2008 because it was in violation of the original Before the Chapter11 filing, Crescent facedc payments of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its The company, which has developed more than 1 milliob square feet of office spacr in Cool Springs since the 1990s, has been facinbg local troubles, too. Pat Emery, Crescent’s long-time vice presidentf and regional manager in left the companylast month.
And the developer’s Crescent’xs Greenway One, a $33 million, 168,000-square-foot building near completion onCarothers Parkway, has been boarded up for months as contractorsd filed millions of dollars in liensw against it. Another similarly sized Crescen t project next to it is aboutr 90 percent vacant a year after being The company says it plans to continue businesses withougt any significant interruption during Crescent has obtaineda debtor-in-possession financing facility of $110 million from a grou of its existing lenders, whicb will provide funds so it can continue operating. Andres Hede will replace Fieldx as CEO and will be chargerd with leadingthe restructuring.
Hede, a managing directofr with LLC, has more than 15 yearsx of financial restructuring andbusiness experience. “Wre have been in active discussions with our lenders and otheer stakeholders as we work towar an agreement that will bring our capital structure in line with the currenteconomixc environment,” Hede says in a release. “Those discussions are continuing, and we are pleaseed with the ongoing support we have received from our We intend to reach an agreement on our new capitalo structure and emerge frombankruptcy quickly.
”

MIT's Smart Sand Can 'Build' Whatever It Touches - TechNewsWorld

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BBC News

MIT's Smart Sand Can 'Build' Whatever It Touches TechNewsWorld By Richard Adhikari MIT researchers have developed a concept for what's c »

Human Capital: People on the move, July 7 - Puget Sound Business Journal (Seattle):

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, is the first graduate of (one of the university’s four to serve as chair. She is also the daughte of former trustee, the late Jack Schwartz. Papa Gino’s Inc. , the Dedham-based parent company to Papa Gino’s and promoted Gary Sandeen and Kathy Tirrell to executive vice presideny of operations forPapa Gino’s and D’Angello Grilled Sandwiches, respectively. , based in elected the following executives to its boaredof directors: Christopher Oddleifson , presidenf and CEO of ; Kenneth Brennan , presidenf of The in Auburndale; Norman Seppalwa , president of in and Kevin Bottomley , president of Danversbank .
At-large who are appointed for three-year terms, included Richardf Bennett , president of ; John Boucher , presidenr of in Weymouth; John Dohertgy , chairman of in Somerville; Richard Holbrook , chairmanm and CEO of in Boston; Dennis Parente , president of Foxbor o FederalSavings ; and Michaelk Tucker , president of . Appointefd at-large director for a one-year term was Jame s Egan , chairman of .

Animal virus could spread to humans, farmers are warned - The National

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Animal virus could spread to humans, farmers are warned The National "It's a concern because humans can catch it," said the report's author, Anne-Lise Chaber, a research associate of the Zoological Society of London. "There's a lack of awareness in the UAE. Anyone working with an infected animal can be at risk.

Kauai home sales, prices edge upward - Pacific Business News (Honolulu):

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The median price of a single-family home was $600,000o last month, 4 percent higher than the mediah price inApril 2008, which was according to statistics from . That price was based on 23 9.5 percent more than the 21 sales recorded inAprilk 2008. Sales for the first four months ofthe however, were down by 32 Year-to-date, the median price of a single-family home on Kauaik was $479,000, down 27 percent from the mediab price of $655,000 for the first four monthsx of 2008. The mediajn price of a condominium on Kauai in Aprilwas $222,250, a 47 percen drop from the same month a year ago, when the mediamn price was $420,000.
That pricse was based on sales of just 12 down from 15 units inApril 2008. The mediaj price of a Kauaoi condo for the first four monthsd of the yearwas $238,000, a 58 percent drop from the medianj price for the first four months of 2008, when the medianm price was $570,000. Sales for the firsrt four months of the year were down42

Lassonde Industries Q4 Profit Rises - Quick Facts - NASDAQ

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Lassonde Industries Q4 Profit Rises - Quick Facts NASDAQ (RTTNews.com) - Lassonde Industries Inc. (LAS_A.TO) reported that its fourth-quarter profit attributable to the company's shareholders was C$13.2 million or C$1.91 per share, compared to C$11.5 million or C$1.75 per share in the year ago quarter. Lassonde Industries Inc. announces its results for the fourth quarter and for ... MarketWatch (press release) < br />  »

Pan Pacific Vancouver Gains Group Advantage with Passkey's GroupMAX - Hospitality Net (press release)

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Pan Pacific Vancouver Gains Group Advantage with Passkey's GroupMAX Hospitality Net (press release) "We are exceptionally pleased that our GroupMAX technology is yielding positive results for Pan Pacific Vancouver," stated Greg Pesik, president and CEO of Passkey. "We strive for our hotel clients to realize positive results from day one.

Federal Home Loan Bank of Boston stung by MBS portfolio - Boston Business Journal:

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million in the firsgt quarter because of troubled investments whose valuews are expected to be reduced by several hundredxmillion dollars. The results are preliminart as the FHLB of Boston works to put a value on its portfolioof mortgage-backedr securities. The value of those investment s has been marked down in recenf weeks and could be subject to another reductiohin value, FHLB of Boston said in a regulatory The bank said it anticipates a credi t loss of about $127 million and a fair value loss of aboutf $768 million on mortgage-backed securities. And the bank said it’as possible it will have additional losses within the mortgagde portfolio when resultsare finalized.
The bank’s advancex to other lenders in the region are expectedf todecline 13.2 percent to $49.4 billion in the first quarter. The net loss in the firs t quarter compares with net incomeof $56.2 millioj in the year-earlier period.

No Longer a Rookie Cookie - Huffington Post (blog)

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No Longer a Rookie Cookie Huffington Post (blog) There is the yearly arrival of luscious honeybell oranges from Florida sent by a close friend; around the holidays, a large tin of Middle Eastern pastries arrive from a bakery in Dearborn, Michigan, (a tradition started by my father and continued by my ...

United Commercial Bank's holding company makes Washington state buy - Sacramento Business Journal:

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(NASDAQ: UCBH) said it'xs purchasing of Bellevue, near Seattle, for $40.e3 million. San Francisco-based UCBH Holdingd is the holding company of UnitedCommercialk Bank. Pacifica Bancorp is the holdingb companyof , which had assets on March 31 of $164.3 million and deposits of $136.7 million, and officials said it too specializes in servingv Chinese customers. As part of the deal, Pacifica Bancorp will be mergerd into a subsidiary of UCBH and Pacifica Bank will be mergec into United Commercial The agreement was madefor 1.2 millioj shares of UCBH common stock, $16 millio in cash and about $3.6 millionn related to the cash-out of the outstandin stock options of Pacifica.
As of mid-2003, Uniterd Commercial Bank had $76.65 millionb in Sacramento deposits. The deal is expectecd to close in the fourth and is subject to conditions andregulatory approval. "In additiom to gaining access to the vibrant ethnic Chinesr markets inthe region, this acquisitiomn strengthens our capabilities to facilitate trade flows acrossx the Pacific Rim and will allowq us to further grow our commercial banking business both in the domesticd U.S. markets and in the greater Chinas region," said Thomas Wu, president and CEO of UCBH Holdings Inc., in a statement.

Sloan resigns from BofA board - Tampa Bay Business Journal:

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Sloan offered his resignation to new boarx chairman Walter Masseylast week, the bank said in a May 29 regulatoryh filing. BofA didn’t disclose Sloan’s reason for As the lead independent director, Sloanm has been under intense criticism in recent monthsw as the bank suffered through a sharop stock price decline after acquiring MerrillLyncyh & Co. BofA also has receive d $45 billion of taxpayer aid. , a Houston-base investment firm that holds 1.1 million BofA shares, was amonhg several groups that waged a proxy againstthe country’sx largest bank holding company, includingt calling for Sloan’s ouster.
Sloan was narrowly re-elected to the bank’ s board at the annual meetingbin April. Meanwhile, shareholders voted to strip BofA Chiedf Executive Kenneth Lewis ofthe bank’s chairmanship, and Masseg was elected to take over boards leadership. Lewis remains the bank’s CEO and president. Sloan, 70, serverd as a BofA director for 13 Duringhis tenure, Sloan served as chairman of both the executive committee and the compensatioj and benefits committee. He also was a member of the corporat egovernance committee. “Temple has been a trusted adviseer who has made an invaluable contribution to the success of our Lewis said ina statement.
“We will miss his counselo and his leadership.” BofA (NYSE: BAC) is base in Charlotte, N.C.

Junior leaguers to help with Bowling for Kids event - Marion Star

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Junior leaguers to help with Bowling for Kids event Marion Star The Southland Lanes Junior League bowling program, shown here last Saturday, has formed its league members into one team which will be part of the Heart of Ohio Mentoring Bowling for Kids program at Southland on the last two weekends of March. and more »

Chase CEO: No profit on credit-card biz this year - Business First of Columbus:

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“We do not expect 2009 to be a good year forthe credit-carc business,” Dimon wrote in a 29-page letter to “In fact, we do not expecy to make any money in card services this year.” Chase (NYSE:JPM), the second-largestg bank in Central acquired the failed bankinv operations of last year, taking on WaMu’sd credit-card operations that were once the San Francisco-basedd Though Providian’s roots go back to providing credig cards to those with tarnished credit histories, Dimon this year told the San Franciscok Business Times he has no interest in extendinh credit cards to the riskt subprime market.
In its credit-card businessa last year, Chase enrolled 600,000 troubled borrowers into paymenty programs. The bank anticipates that figure will be highetthis year. “Looking ahead, we expec losses will continue to increase from 5 percenrt to9 percent, essentially tracking the rate of Dimon wrote in the shareholders letter. Dimon said the which has boosted reservesfor credit-carde losses to $8 billion from $3 billion, could see the recessionh make a “dramatic on its credit-card losses. Chase now expect s a 9 percent national unemployment rate to leadto charge-offs of highet than 9 percent.
In the past, Chass would have projected a 9 percent unemploymen t totrigger credit-card losses of 7 percent or The nation’s jobless rate in Marcj hit 8.5 percent, the highest since 1983. “The recession will ripple through and affect all of our consumeer andcommercial credit,” Dimon wrote. Chase has 71 branchese and $7.07 billion of deposits in Centralk Ohio as ofJune 30, according to the regulatorty records. The bank is the third-largest employer in the regiom withnearly 14,700 workers.

Study: Ambitious people unhappier, don't live as long - Fox News

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Study: Ambitious people unhappier, don't live as long Fox News “Ambitious kids had higher educational attainment, attended highly esteemed universities, worked in more prestigious occupations, and earned more; so, it would seem that they are poised to 'have it all,'” said lead researcher Timothy Judge, ... and more »

Most Texas banks are weathering economic storm - San Antonio Business Journal:

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Before considering the fate ofindividual banks, some contexr is useful. While the U.S. economy as a whole entered a recession in the fourthj quarterof 2007, figures from the suggest that Texas avoided recession until the second half of 2008. Unemploymentr figures have alsospiked here, but the state’sd 6.4 percent rate in the early going of bad as it is, seems positivelu rosy compared to a national unemploymen t rate above 8 percent. Looking specifically at banking, Texas has also escapee the downturn’s worst effects, at least so far. Betweenn January 2008 and January 2009, the U.S.
financial servicews industry lost 271,000 In the same period, though, Texaws bank payrolls actually grew by amodest 4,200 employees. Those figures suggest that the gras may be greener on this side of the fence — though it still is not very Banks in the Federal Reserve’s Eleventh which is dominated by Texas, have seen nonperforminb assets and chargeoffs rise dramatically, matched by consistent declinews in return on equity. At the same the percentage of banks in the districtf that the Fed definesas “healthy” droppes from 90 percent in the first half of 2008 to 83 percentt by the fourth quarter of the year.
These figuree echo declines inother indicators, from exportss to manufacturing payrolls to the number of residential mortgage permitsd issued. The pain, however, is not evenly distributed. Some bankd have benefited from sticking to conservative principles of lendingand , which is one of the largest family-owned bankx in the country, provides one example. The bank’s executive s have confirmed a slight downturn inthe bank’s businesse and the Panhandle’s but say that it is a necessaru market correction rather than the kind of financiap A Thought you’d get a kick out of my son’xs video. Did it all on his own: http://bit.
ly/mC12zx rmageddon that the headlines from Wall Streetfwould indicate. The bank has declined Federal stimuluw money. To get a better idea of how the pain in Texaxs bankingis distributed, I lookefd at a dozen publicly tradex Texas banking companies with at leastt $100 million in annual revenues, then compared the performancew of their shares to the performance of the S&PP 500 index. Between the beginning of 2008 and the end ofFebruarty 2009, the S&P 500 lost almost exactly half of its Three of the Texas banks were in the same with share-price declines between 45 and 52 Four did much worse: (Dallas) lost two-thirdw of its value, lost nearly 70 (Houston) lost 78 percent, and (Austin) lost a whoppin 97 percent.
Guaranty’s troubles are not hard to figure out. The companhy suffered large quarterly losseslast year, stemminfg in part from its exposure to the California housin g market. During 2008, it also laid off a tenthh of its workforce, reshuffled top executives, and sold off an insurancwe subsidiary. Guaranty has also delayed filing its 2008 annuapl report tothe SEC, but the resultxs in the report are expected to be poor.
The good news is that the same comparisoj revealed five Texas banks whose shares farerd much better during the same SouthsideBancshares (Tyler), (San Antonio), and (Plano) lost between 10 and 20 percentg of their stock-market values from January 2008 through Februaryg 2009, which counts as success, given current conditions. But the big winner was of the shares of which gained nearlyt 15 percent across thatsame span.
Firsf Financial owns 10 banka and a trust company with nearly 50 branchess in small and midsized towns of North and West Whilethe company’s annual revenu fell slightly in it increased its assets and net income even as the nationao economy was taking a The performance was good enough to earn it secon place in a recent national rankingf of publicly traded bank by Bank Director Magazine. What are the next step s for Texas banks? Some of them — large and small, healthgy and hurting — are taking Federalo stimulus money to increase their ability to lend to borrowersa withgood credit.
Others, like Firsy Financial and Worthington NationalBank (For Worth), have made a point of refusingv government “handouts.” Stimulus or not, the ultimater recipe for banking success in this economuy is as dull as it is at least if First Financial is any When the company announced its outstandin numbers for the fourth quarter of 2008, the most scintillatinyg quote from company presideny F.
Scott Dueser was this: “With the national economy slowinhg and the large increase in FDIC insurance premiums budgeted for we will need to continue to manageour margins, improvwe efficiencies and control creditg quality to maximize shareholder It may be yawn-inducing, but it

Aerosonic names Kevin J. Purcell its new chief financial officer - Tampa Bay Business Journal:

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Effective May 26, Purcell will receive an annuakl base salaryof $180,000, SEC filings said. He also has been granted stock options to purchase a totapof 25,000 shares of Aerosonic common stock and will receive four weekss of paid vacation each year. In addition, Purcellk is eligible to earn a performance bonus of up to 35 percent of his annual base salary, in cash, stocik or other equity compensatiom based on targets determined by the Beginning July 1, Purcell will be entitled to receiv e fringe benefits and employee benefit plans, filing said. Previously, Purcell was vice president and chief financialo officerat (NASDAQ: HRLY) and vice president of finance, contractas and compliance at .
He also has worked in the governmenft contractor advisory services groupof . A certifier public accountant and certifiedmanagement accountant, Purcell received his bachelort of business administration degree in financial accountiny at in New Rochelle, N.Y., and holds an MBA from in Los a release said. Founded in 1953, Aerosonicv is a manufacturer of aviation products for business andmilitary aircraft. The company also has officex in Clearwaterand Earlysville, Va.

5 reasons the 49ers won't focus on Peyton Manning (and probably vice-versa) - San Jose Mercury News (blog)

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5 reasons the 49ers won't focus on Peyton Manning (and probably vice-versa) San Jose Mercury News (blog) Now, things change, and I realize just by typing those words I've probably created a tear in the cosmic fabric that now makes it much more likely that it could happen. Oh well. I've also heard lately that there's nothing imminent with the 49ers and ... and more »

URA re-releases RFP for Heppenstall site in Lawrenceville - Tampa Bay Business Journal:

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The URA is re-releasing a request for proposals afteer its previously chosen Urban Villages working with Botero Development decidedr not to go forward withthe project. Urban Village and Botero were selecteds over oneother finalist, S&A Homes, in partnership with the Lawrencevilld Corporation, a community nonprofit. The football field-sizedr parcel includes the site on which the office building for the Heppenstallk plant once was located as well as a formerfwarehouse property. In a prepared mayor Luke Ravenstahl describedthe property’s redevelopment as an importanyt part of the city’ws larger revisioning of the Allegheny riverfront.
“We have begu n a planning process to create a vision for the Allegheny riverfront and reconnecrt our neighborhoods to ournatural amenities,” he "The Hatfield Street site is one of the great opportunities to see this visiob come to life.” The URA wantsw a developer “to purchase, design, develop and operat e or resell the site.” The URA’s effort comee as the Regional Industriao Development Corporation (RIDC) continues to redevelop the Heppenstall complexd itself. Hatfield Street is considered a dividing line betweenthe neighborhood’s residential community and its industria l zone.
As a selling point, the URA notes that the median home price in central Lawrenceviller has increased 64 percent in the past three a growth rate it claims is second highest in the city to theSouthb Side. “We are excited with the real estate appreciatiob that were seeing in the saidRob Stephany, Executive Director of the URA, as well as a Lawrenceviller resident. “And (we’re) very excited about the prospec of a new residential product and how that will add fuel tothe

Seven Denver companies among fastest-growing in U.S. - Houston Business Journal:

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Denver-based companies making the top 100 list Global TechnologyResources (No. 7), comCablesd (No. 21), DocuVault (No. 63), CAM Serviceas (No. 77), Gunther Douglas (No. 79) All Copy Products (No. 84) and Postmodern Co. (No. 95). The ICIC surveuy showed that the 2009 winners grew at a compound annual growth rate of 40 percent and an average combineed rate of 324 perceng between 2003and 2007. Collectively, the top 100 inner-cithy businesses have employednearly 17,000 people and createf nearly 10,000 new jobs in the past five According to ICIC, 53 percenft of companies expect steady growth, 11 percent expect thei revenues to double, 6 percent expect their revenues to triplee and only 4 percent expect their revenues to decline in 2009.
the average Inner City 100 company’s revenuex were $23 million. The 2009 Inner City 100 winnera operate from 55 citiez in31 states. Fifteen companies on the list are basesd in California and eight arefrom Massachusetts. Texas and New York each have seven companies onthe Awards: RNL is the only firm in Colorado to be namexd among the top five sustainable-designn firms based in the United States, according to a Top 10 list publishedd by Architect magazine in its May issue. The rankingz were based on severap variables, such as percentagew of Leadership in Energy and EnvironmentalDesignh (LEED) projects and LEED-accredited professionals on stafr in 2008 as well as greem policies.
Founded in RNL is based in Denver and has offices in Los Angeles and Abu UnitedArab Emirates. The University of Colorado Denver Schoolp of Medicine Alumni Association presentesd its topannual prize, the Silver and Gold to Denver Health’s chief medical officer, Dr. Phili p Mehler , who graduated from the schoooin 1983. The association also recently honored Dr. Dan Bessesenj with its Distinguished Achievement Awardand Dr. Nancy Nelson with its DistinguishedServicd Award. Bessesen, a professor of medicine in the divisiohof endocrinology/metabolism/diabetes, is also base at Denver Health. He is a 1982 graduatd of the UCD Schoo lof Medicine.
Nelson, who graduated from what was then calles the University of Colorado Schookl of Medicinein 1959, is now professor emeritaw of pediatrics at the school. She served as the firsty female head of the ColoradoiMedical Society. Dr. Mark Deutchman, a professofr in the department of family medicinre at the University of Colorado Denver Schoolof Medicine, has been named recipienyt of the 2009 Osage Oranged Distinguished Physician Walking Stick Award for his work runningh the school’s Rural Trackj program. The program increasezs the number of physicians practicing in underserved rural areas across Colorado and theUnited States.
HMH Architecture and Interiorxs of Boulder received two awardz from the American Society of Interior The 2009 Colorado Annual Interiorf Design Awards won by the firm werefor “Primaruy Residence over 5,000 square and for “Bed & Bath.” Boutique for the Soul , an organizatiohn designed to connect and support womeb in business, was named 2009 Businessx of the Year by the Denver Tech Centef Business and Professional Women’s Denver-based Alpine Waste & Recycling was recognizedf as the state’s most outstandinbg business for its recycling/diversionh program by the Colorado Association for The Colorado chapter of the Societyu for Marketing Professional Serviceds presented Denver-based Kieding Office Architects with the 2009 Marketinh Excellence Award for best advertising Kieding specializes in the planning and designm of commercial office space.
The Boulder Valley School District ’s annual report, called “Thrive,” won the Award of Excellencde from the Colorado Schools Publi cRelations Association. It was designed by CommArts. Laura Landwirth , executive director, Colorado Associationm of Homes and Services for the received the Award for Excellence from the Assistefd Living Federationof America. Done deals: Mortenson Construction has been selectex to build six new Tactical Equipmentf MaintenanceFacilities (TEMF) at Fort Carson Army Base on behalff of the Army Corps of Engineers. The facilitiesz will include four medium and two smalobuilding designs, totaling $63.9 million.
The work follow Mortenson’s construction of eight previouw TEMF facilities atFort Carson. Dovetaill Solutions added Kendall, Koenig & Oelsner PC to its list of KKO is a boutique business law firm with officess in Denverand Boulder. Desig n Lines Inc. , an interiorf design firm based inGreenwoode Village, has been selectec to provide interior designsa for The Alvea Spa in Queens Creek, and the Vineyards Spa in Brentwood, Calif. DécorAsian , which sells pan Asian art, collector’e items, furniture and antiques, opened its firstr Denver location, at 1787 S. The company opened its original store on Pearl Streef in Boulderin 2003.
AfterOurs Urgent Care has opened its fourtjhColorado location, this one in The clinic, located at 2761 W. 120th Ave., operatesz weeknights, from 5-9 p.m., and during weekendss and holidays from8 a.m.-4 p.m.

Coldplay - Stars Get Arty For Literacy Campaign - Contactmusic.com

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Contactmusic.com

Coldplay - Stars Get Arty For Literacy Campaign Contactmusic.com Stars including Coldplay, Dame Helen Mirren and Stephen Fry have designed and decorated envelopes for a UK literacy campaign. Dame Shirley Bassey, Star Trek's Simon Pegg and Dame Judi Dench also tapped into their creative sides to transform everyday ...

State Governors Attend White House Dinner - ABC News (blog)

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Boston.com

State Governors Attend White House Dinner ABC News (blog) WASHINGTON, DC â€" While Hollywood celebrates the Academy Awards, a different kind of celebrity gala event unfolded at the White House this evening: President Obama hosted the nation's state governors for an annual black tie di nner. Still miffed? Jan Brewer will not attend Governor's annual White House dinner  »

Gold Follows Stocks With Unpexected Increase - The Ledger

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Gold Follows Stocks With Unpexected Increase The Ledger By Nathaniel Popper & Joel Stonington NEW YORK | While the Dow Jones industrial average has risen toward 13000, another high-profile market has unexpectedly risen alongside it: gold. The price of the precious metal has surged since the beginning of the ... and more »

Greg Grainger joins Jones Lang LaSalle - San Antonio Business Journal:

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Jones Lang LaSalle said Grainger will be leadingits Dallas-Fort Worth propertyg management business. He also is expected to launch a nationall industrial propertymanagement practice. Grainger is joiningv Jones Lang LaSallefrom , where he headed the property management practice for the D-FW Prior to that, he managed the properth management division for Co. “With more than 20 yeare of experience and a proven track record in the propertymanagemenft arena, Greg will greatly enhance the firm’xs ability to provide expanderd industrial and property managemenf services to our clients,” said Paul Whitman, president of Jonezs Lang LaSalle, DFW.
“We are strengthening our property management business into the industrial sphere in responswe tomarket demand.” Grainger is not the only recentt addition to the team. Terruy Darrow, a 35-year industrial real estate joined the firm last month to lead theindustrialp group, which specializes in advisingh occupiers and investors of industrialp space.

Southland Television Network to Broadcast Bobcats vs. Lions - SportsNOLA.com

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Southland Television Network to Broadcast Bobcats vs. Lions SportsNOLA.com FRISCO, Texas â€" Southeastern Louisiana will welcome Texas State to the University Center in Hammond, La., Wednesday at 7 pm in the Toyota Game of the Week on the Southland Conference Television Network. Both teams are just one game out of the final ... and more »

Report: Long Beach's revenues projected to be down $11M for fiscal year - Contra Costa Times

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Report: Long Beach's revenues projected to be down $11M for fiscal year Contra Costa Times By Eric Bradley Staff Writer LONG BEACH - A report will be delivered Tuesday to the City Council showing projected revenues down $11 million, or 2.7 percent, for the current fiscal year. While the city's largest sources of income - property and sales ... and more »

Portland-area economy weakens Q1 - Portland Business Journal:

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percent, an accelerating declin compared tothe 13.5 percent (revised) drop in the fourthn quarter of 2008. Of the nine indicators includedd inthe index, six declined significantly, said Tim Duy, director of the Oregon Economic Forum and a UO adjunc assistant professor, Labor market trends continue to Help-wanted advertising in The Oregonian fell during the consistent with a decrease in hiring demand. initial unemployment claims continuedto rise, reachingf a month average of 16,819 claims. Non-farm payrollw continue to fall as under the dual forces of increase layoffs and slackhiring demand; payrolls stand 3.9 percent lower than year-agpo levels.
The expected slowdown in lodgingb activity finally cameto pass, said Duy,with estimatede lodging revenue (seasonally and inflation adjusted) down 15.4 percent from the fourth quarter. Passenger traffic at Portland Internationak Airport was effectively unchanged from the previous Housing markets weregenerally weaker. Housing sales were effectivelyy unchanged, while average days-on-market fell, partially offsetting a particularly sharpo rise in the fourth quarterof 2008, attributable to the intensification of the financial crisiw and unusual weather conditions, said Duy. Ongoingy declines in the in point to continued economic deterioration in thePortlansd region, he added.
Signs of stabilization are difficult to he said; expectations for a firminvg of economic activity in the second half of 2009 are largelt based on some tentative signs of stability in the nationap economy. Moreover, the impact of fiscal and monetar y policies should become more evident as theyear progresses. Still, the pace of the recovery is expected to be subdued as the economy adjusts to an environment less dependenton debt-supported consumer spendinf growth.

Syrian Activist: 'Idea Of Safety Doesn't Exist Anymore' - WBUR

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Syrian Activist: 'Idea Of Safety Doesn't Exist Anymore' WBUR "'The idea of safety doesn't exist anymore in Baba Amr,' said Omar Shakir, an activist in the neighborhood reached via Skype. 'Scary is all that exists.' "The neighborhood was hit by occasional mortar shells overnight, he said, with the heavier shells ... and more »

New Vine Logistics situation gets murkier - San Francisco Business Times:

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“For us to disclosed any information aboutthe buyer, New Vine’z board would have to accepty or reject an offer,” New Vine spokeswoman Charlottd Milan told the San Francisco Business Timesa , adding that no further information about New Vine’d negotiations with two or three potential buyersa is likely to be available June 4. Late Wednesday and very earl yThursday morning, informed sources told the Business Times that 1-800-Flowers.com appeare d set to win the sweepstakes to buy the brokeh pieces of New which startled the wine industry late last week by abruptl y suspending operations.
As of early Thursday morning, an announcemeng of a deal with which owns the Wine Tasting Network Servicesshippinv company, appeared to be imminent. But that deal broke down sometimre in thewee hours, leaving New Vine’sx future uncertain. Wine Tasting according to itsLinkedIn profile, provides winer and wine club direct marketing as well as fulfillment and e-commercd services to wineries and wine retailers. Officials at WTN did not immediatelyg respond to requestsfor comment, but many in the industry see WTN as the most logicalk player to pick up some of New Vine’w pieces.
New Vine, which two years ago seemede poised to ship 20 percentof California’s direct-to-consumetr wine market, laid off much of its staff on Fridaty and brusquely told customers over the weekenxd that it was no longer receivinb or processing orders. The move left many Wine Country providers scramblinv to gather information and to figurs out how to get back inventorhy atNew Vine’s American Canyon warehouse so they could ship it to customers anothetr way. Published accounts said some ofthe company’sx venture capital investors effectively pulled the plug last by declining to invest additionap capital in New Vine.
“Some people changed theitr minds at the last saidBarbara Insel, a wine industry analystg who has served on New Vine’s advisory board. Kathleen New Vine Logistics’ founder and former CEO, and Chairmah of the Board Homer Dunn said Tuesday that New Vine is workiny withcustomers “to transfer all services to anothef means of legal direct shipping, and in the meantime, is finalizin g all work, including compiling of reports, reconciling inventort and invoices, and performing all of the necessary businesx operations for the montb (sic) of May and June.
” Hoertkorn in response to reports that the company knew or must have knowmn it was in financial trouble, that officials “truly believed that they would have been funded and were not expecting to have to ceasee operations.” The company had more than 200 customers and roughlyu 110 employees as of last sources say. It now has a skeletomn crew of about 30 staffers at its Napa headquarterz and American Canyonshipping facility, includint a handful of executives who are working to wind down New Vine was started in 2001 on the notionb that it could help expedite shipmentws to consumers in various states with confusing and complicated legalk restrictions on wine shipments, a lingerintg legacy of the Prohibition years in America.
Financial backers include Menlo Park’s , Altos Ventures, and San Francisco’s LLC, whicbh reportedly pulled its people out ofNew Vine’s officeds late last Thursday.

Forest City breaks ground on D.C. park - Kansas City Business Journal:

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The 5.4-acre park will include open recreation areas, landscaped gardens, publicc art, a pedestrian bridge and walking paths that connect the site with other developments along the The Yards development is five blocks east of theNationals Park, near the Navy Yard Metrorail station. Mayodr Adrian Fenty said "w world class city needx a world-class waterfront" and "this, I is the biggest part to He was joined by CouncilmanTommy Wells, D-Ward 6, and Kwame Brown, D-at large. The Yardsz is the only public-private partnership in the countryg being built onfederal land, which was made availabled by Congress in 2000.
Altogether, Forest City and its , plan 2,800 residential units, 1.8 million squares feet of offices and as muchas 400,000 square feet of retail. Congressionalp Del. Eleanor Holmes Norton, D-D.C., said the projecyt connects District residents with a waterfront thatpreviouslyg "has never been open to the peopled of the city." Construction aside from work on the publiclyt financed park has largely stallef as the developers seek Forest City Washington President Deborahb Ratner Salzberg said she is working on financingv for redevelopment of the Navy’s formef pattern and joiner shop into a 170-uni residential project called the Foundry Lofts apartments, whicu overlook the park's site and the river but have not been Ramsey Meiser, Forest City senioe vice president of development, is seeking stores and restaurantsw interested in leasing space in a former Navy boiler manufacturing facility and other buildings.
The park coulx be completed by the summerof 2010. It will be managexd by the Capitol Riverfront BusinessImprovement

Man accused of being lookout - Beaver Dam Daily Citizen

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Man accused of being lookout Beaver Dam Daily Citizen Mark Humfleet, 301 N. Montgomery St., is charged with party to a crime of burglary-arming self with dangerous weapon, theft of moveable property and altering identity marks. He could face up to 21 years in prison if convicted of the charges. and more »

At Freedom Plaza's Occupy cleanup, authorities report a 'different dynamic' - Washington Post (blog)

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ABC News

At Freedom Plaza's Occupy cleanup, authorities report a 'different dynamic' Washington Post (blog) US Park Police swept through the Occupy DC camp at Freedom Plaza on Sunday and made one arrest in a scene that was far less contentious than the raid the day before on McPherson Square. Police were looking for the same types of violati ons they ... Occupy DC protest USA TODAY Police: 11 arrested at Occupy DC site San Francisco Chronicle US Park Service Moves in Against Occupy DC Encampment at McPherson Square Big Government Washington Examiner  »

Coleman: City wants its piece of stimulus pie - Business First of Columbus:

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Fresh from cutting nearly $100 million from this year’as city budget and predicting the need for even more spending reductionswin 2010, the mayor said he will fight for share of the federal stimulu s pie. “I am fighting for every dolla r from theWhite House, from the Statehouss and from Congress,” Coleman said in his addresx at Columbus East High School. He said city officials have learnec the Central Ohio Workforce Investment Council willreceive $6 million in stimulus funding.
About half will be used to hire 2,500 youths this summer, Coleman with the rest to assist thosed who have lost their jobs get training to rejoin the work In addition, the mayor said Wednesday that nearly $1.3 millio n from the stimulus initiative will allowa Columbus to avoid laying off 27 police recruits who are completingt training to join the city’se safety force. Coleman plans to form the Columbus EconomixcRecovery Alliance, a community partnership focused on getting maximunm stimulus funding for the city and tracking its use in the Unlike past State of the City addresses, Coleman’e speech lacked revelations of new development Instead, he mentioned some of last year’s more promineny developments, including expansions at and , and recentlgy disclosed ones such as the conversio of the Columbus City Center site into a park and othedr development, the addition of 200 jobs at city incentives to help retain 800 jobs at and creatiobn of 130 jobs at a medic al office building and clinix to be constructed for at the former Gowdy Field site off Routde 315.
Those job creation and retentionb projects run counter to what has been happening at City Faced witha $97 milliomn budget shortfall this year, Coleman orderedx a package of cost-saving movexs that included dismissals for 130 employees, pay recreation center and swimming pool closures, eliminatiohn of yard waste pick-up, cuts in social servicesd and withdrawals from the city’s rainy day fund. The situation will be graverd next year without new Coleman warned.
He projected city government could see a shortfallkof $30 million to $50 million on top of the budgeg gap his administration had to close this “We are at a he said, “where we can be the city of continuede prosperity for the 21st century or we can fall But Coleman stopped short of calling for an increasew in Columbus’ 2 percent income tax a major source of revenue. Instead the mayot will wait to make his decision after his Economic Advisory Committee issues its financial recommendationz in the nextfew weeks. “I know this is a difficul t time tosay it’s time for new revenue,” the mayorr said, “but the consequence of inaction is so enormous.
The qualith of life as we know it asat stake.” Besidesz a tax increase, the advisory committee is lookingy at options such as sellingh more city land, merging operations, offering private sponsorshipss for public facilities and gettinyg employee benefits in line with others in Central Coleman said. “We will reform internal operations,” he “and do whatever we must do to bette runour city.” Click to read the full text of Coleman'd speech.

Genome BC Funds $9.8M Project to Sequence 1K Childhood Brain Tumors - GenomeWeb Daily News

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Genome BC Funds $9.8M Project to Sequence 1K Childhood Brain Tumors GenomeWeb Daily News The Woyke lab is currently focused on gaining genomic insights into highly novel and under-explored taxa in the environment, most of which are as yet uncultured. One of her primary projects targets genomes from lineages with or without very few ... and more »

Synovis reports increased profits, plans to expand sales staff - Minneapolis / St. Paul Business Journal:

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Synovis reported fourth-quarter net incomd from continuing operationsof $1.9 million, or 15 centws per diluted share, up from net incomer of $1.1 million, or 8 cents per diluted share, in the year-earlief period. Fiscal 2008 net earningzs from continuing operations roseto $6.2 or 48 cents per diluted share, up 85 perceny from $3.3 million, or 26 cents per diluted in fiscal 2007. Analystw polled by Thomson Reuters predictec fourth quarter net income of 12 to 15 centxsper share, and annual profit of 45 to 48 centsa per share. “We saw strong revenue contributions from everyproducy line,” said Richard Kramp, Synovis Life president and chief executive officer.
Kramp credited the company’s 43 U.S. salespeopls with driving up revenue and said the companyh plans to expand its sales staff by as many as 15 with up to seven beinfg hired in thefirst quarter. Synovies reported its fourth-quarter revenue rose to $12.7 a 24 percent increase over $10.e3 million in the year-ago period. For the it rose to $49.8 million, up 32 percen from $37.7 million in fiscal 2007. The companyu believes revenue will grow in the range of 20 percent to 25 percent infiscal 2009. Synovis stockk was up $1.17 per share, or 8.8 to $14.
47, in afternoon Nasdaq

DiNome abandons quest to lead Reed Smith - Business First of Columbus:

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Reed Smith spokesman Dave Egan told the Pittsburgh Business Times that Jordan and DiNome issued a joint announcement tothe Pittsburgh-basecd firm Tuesday morning that DiNome has withdrawn his “They sat down and talked and discovered they had a lot of commob ground,” Egan said. “Many of the things John was concerneds about, Greg was working on. They agreed that the best thinf for the firm was to focus on business instead of reported last week that DiNome waschallenging Jordan, who was seekinv his fourth three-year term as managing partnerr of the law firm.
DiNome sent out a 10-page statement of candidacyu to all Reed Smith partners in whicb he questionedthe firm’s business the compensation and transparency of senior management, and called for a more independent executive The memo was obtained by the Business DiNome and Jordan had said they agreed to not speak publicly about the contested race to lead the 1,600-lawyerf firm, which has 150 lawyers in Philadelphia. The firm partnership will votein September; the winner, who will now certainlyh be Jordan, will start his new term in Jordan has not been opposed since he first soughtt the job in 2000, when he beat Philadelphia litigatot John Smith.
Jordan’s tenure has been viewed as extremely successful. He has grownb the firm through a series of significanyt mergers from 500 lawyer in nine officesto 1,600 lawyer s in 23 offices, including new ones in Europe, Asia and Focusing on a core group of practicesw with high billing rates, Jordan also drasticallhy increased the firm’s profitability. But with the economuy sagging, Reed Smith’s transactional practices have suffered. The firm has laid off 215 including26 lawyers, since December. The firm also cut 50 legap secretaries last summer and salaries forall U.S.
associatee by 10 percent last DiNome, a labor lawyer, joined as part of a group from Montgomery McCrackenWalker & Rhoads led by Karl Fritton in 1996. A graduatde of West Point, he spentr seven years in active duty as a fiel d artillery officer before attendintg Rutgers University Schoolof

Divorce forms a step closer to reality - Austin News

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Business Insider

Divorce forms a step closer to reality Austin News On Wednesday, the Supreme Court issued a letter to State Bar president Bob Black , which now kicks the forms review to the Supreme Court Advisory Committee. In April 2010, TAJC held a symposium where more than 120 professionals attended. Texas High Court Moves Forward to Create Divorce Forms Texas Tribune UPDATED: Supreme Court Declines to Suspend Task Force's Work on Pro Se Divorce ... Texas Lawyer More Women "Like" Online Divorce Forms Website DigitalJournal.com (press release) Daily C »

Yahoo! confirms WNY site - Orlando Business Journal:

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Yahoo!, Tuesday morning, confirmed it will be buildingthe 190,000-square-footf center that could employ, 125 people. Yahoo! has pegged a 30-acre site in the park for the Yahoo!’s decision is considered a majorf victory, especially against a backdrop of a weakened economyu where unemployment has increased in past year in Erie Counthyto 8.1 percent from 5.5 percent and in Niagara County to 9.3 percenty from 6.6 percent. “Thisz is a big win for the community,” said Tom president and chiefexecutive officer. “We won the Yahoo! was being courted by several statesincluding Ohio, Pennsylvania and Illinois for the All offered a handsome array of incentives.
“Whej a high tech company like Yahoo! picks a communitty like WesternNew York, it’s like a said Sen. Charles Schumer, New York’s senior senator, who playedf a key role in Lockport landing the data The region crafted its own aggressivew incentive package including the offering 15 megawattsof low-costf hydropower that could save Yahoo! an estimated $100 million over a 15-year period. also offered job training grants andother incentives. High levelp pitches also came from Gov. Davicd Paterson and Schumer. Schumer made personalo calls to Yahoo!
CEO Carolp Bartz to push the Kucharski said it also helped that the regionj offereda half-dozen sites and not just a singula r location. It also helped that a friendship quicklgy developed betweenthe Yahoo! site selectioj team and the local economic development community. “We developed a nice relationship with them and that helped make this Kucharski said. “They were impressed that every timethey called, we coulfd assemble our team on a very short notice and give them the answers they wanted.” Construction on the data center will begimn in August, said David Dibble, Yahoo! senior vice president. The center will be open by May.
Kucharski said therer is a myriad positives that will comefrom Yahoo!’xs decision. The BNE will use it in its outreach to othef companies itis courting, he said. “It confirms our abilitty to attract high tech and highprofile companies,” Kucharskk said. “To get a name company like Yahoo says a lot to the rest of the industrieaout there.” Yahoo! joins the ranks of , that have eithere opened or expanded back office operations in the region in recen t years. “You add it into the mix of the some of the othedcompanies we’ve landed and it becomes a very impressive Kucharski said.

Primavera Coffee in Cahaba Heights merges with Atlanta-based Octane Coffee - The Birmingham News - al.com (blog)

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The Birmingham News - al.com (blog)

Primavera Coffee in Cahaba Heights merges with Atlanta-based Octane Coffee The Birmingham News - al.com (blog) Burton's 6-year-old company -- Primavera Coffee in Cahaba Heights -- recently merged with Octane Coffee, a coffee shop company in Atlanta that was named by Bon Appetit magazine as one of nation's the top 10 coffee shops. A three-way merger, ...

D.C. Mayor taps Valerie Santos as deputy mayor - Washington Business Journal:

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Santos, as chief operating officer undeer Albert, has been closely involved in decision-making on many of the real estatwe dealsAlbert managed, including major city projects such as Poplafr Point. Albert began his new job as city administratodon Monday, replacing Dan Tangherlini, who is takingt a job in the Obama "In Ms. Santos, we not only have a steady hand who knowxsthe job, we have someone who is a consummates professional who will bring private-sector talentsw to get the job done,” Fentyt said. Santos was previously a vice president at commercial real estate services firm and a managetrwith 's real estate group.
She holds both an MBA and master'ds of public policy from the Kenneduy School of Governmentat . Santosz has displayed a no-nonsense approach appearing as Albert’s stand-in to testify at D.C. Councilp meetings and in public forum s representing the city when he was She is already getting her feet wet in dealin g with the political aspects ofthe job. On Tuesday, when the D.C. Counci l was busy squaring away final details of budgetimplementatiob legislation, Santos and Albert’s other top Director of Development David Jannarone, moved around the Wilson Buildingv seeking changes from council Santos apparently was not Fenty’s initial choice to be deputy mayor.
Greg Washington Convention Center Authorit CEO and a former staff membet of thedeputy mayor’s office, had been consideref a top candidate to replace Albert, but a sources close to O'Dell says he was offered the job and turnedc it down. O’Dell wouldx not confirm that, but indicated he would remain in hiscurreny post, where he is now taskede with seeking public financing for all of a $550 milliobn convention center hotel. “The board and the mayort have every expectation of me completinvg all the tasks Ihave here,” he Fenty would not say whethefr he had offered the job to O’Dell or anyonr else before Santos.
He announced the pick outside the Walker Jones Elementary which is being rebuilt as part of a new Northwest One and said shewas “the first person who has risen to the deputy mayor’s position from within the “I think it’s a grea t sign for the D.C. government that not only does Valeriw Santos have amazing experience in the private sectof butthat she’s been hard at work servin g the people of the District of Columbia for the last two the mayor said.
He said Santos shared the visionb that he and Albert had for how economicf development in the city shouldbe run, not by owninyg or overly managing projects but by allowing the privatre sector to bring ideas to the city. “Wew should try to just facilitate We’ve got the greatest business communith in the world herein D.C. We don’yt need to try to replicate what they’r e doing. We don’t need an emphasis on owning or building inthe D.C. We need to facilitate. And to do so, we need to hire the best and the brightesytand we’ve done that.
” Santos, 36, who lives in Columbia was working for Jones Lang LaSalle as a consultantr to the city when Albert -- whom she calleed a mentor -- recruited her to work for him. She is believedd to be the first woman to serve in the rolefor D.C. and will manag e 65 employees and as well as oversee the Officeof Planning, Department of Housing and Community Development, the Offices of Property Management and the Washingtoh D.C. Economic Partnership, a contractor. “In the cominhg weeks my goal is to ensure a smooth which I expect will be relatively because I am very fortunater to manage a very talented and skilled team,” she said.
She said she wouled continue to move projects all over the with a particular focus on those east of theAnacostia River, such as the planned redevelopment of St. Elizabeths Hospital in Southeast D.C. “We will continue to focu s on implementingMayor Fenty’s vision for economic development. In the contexf of the current economic climate, we will focus on businesx attraction andretention efforts, and in continuing to providew tools to allow our local business and not-for-profitsx to grow,” she said. A member of the D.C.
Council who regularly butts headsswith Albert, Councilman Kwame Brown, D-at large and chair of the economic development committee, issued a press release during the announcementr saying he was disappointed he was not invitedc but saying Santos “has the experience and the operational for the job and that her appointment was “an opportunity to forge a new relationship betweem the Council and the executive to create jobs for District new opportunities for local businesses, more affordable housinhg and to efficiently move projectzs to completion.
”

ACLU of Illinois Calls on Chicago City Council to Reject Ordinances Adding ... - MarketWatch (press release)

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ACLU of Illinois Calls on Chicago City Council to Reject Ordinances Adding ... MarketWatch (press release) 17, 2012 /PRNewswire via COMTEX/ -- The American Civil Liberties Union of Illinois today called on members of the Chicago City Council to reject a series of proposed changes to ordinances that add unnecessary burdens to individuals and organizations ... and more »

SEC charges Jaffe, other Madoff 'feeders' - Boston Business Journal:

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Among the defendants named in the suit isRobert Jaffe, the Boston-basede social maven who funneled more than $1 billion in referralxs to Madoff. The SEC alleges that Jaffe was compensateds for his services with outsized returnsx in his personal accountswith Madoff. According to the government’s complaint, each party stands accuse d of “knowingly or recklessly disregardingb facts indicating that Madoff was operating a In additionto Jaffe, the suit’s other named defendant s include California money manager Stanley Marcia Cohn and Maurice The Cohn’s served in senior roles with , an investmeny firm that is also a namedx defendant in the SEC’s suit.
Regulators say the Cohnx and Chais received hundreds of milliond of dollars in fees for managingh client money that was ultimately lost in theMadof scheme. “Madoff cultivated an air of exclusivithy by pretending that he was too successful to trouble himselv with marketing tonew investors,” said Robert director of the SEC’s divisiob of enforcement, in a prepared writtemn statement. “In fact, he needed a constanf in-flow of funds to sustain his fraud, and used his secret controlp of Cohmad toobtain them.
” For example, the SEC said the Cohna and Cohmad received fees for moneyt invested with Madoff, but were not paid if clients laterf withdrew more than what a client had initiallyy invested — even if, as Madoff often purported, the account had grownh considerably under his stewardship. So in the case of a cliengt whoinvested $10,000 and later on withdrew Cohmad recognized the accountr as having a value of negative $5,000. That accountingf entry would hold true even ifthe account, unded Madoff’s reporting, was said to be wortn $100,000 on paper.
In the case of Chais, who held himseltf out as an “investing wizard,” the SEC said in actualitu he wasan “unsophisticated investor who did nothinvg more than turn all of (his assets over to Madoff, while charginy the funds more than $250 million in among other accusations. Meanwhile, Chais and his famil y withdrew morethan $500 millionb more than they had actually invested with Madoff.