With gold medal around his neck, Kevin Love plans to quit pouting, become ... - The Canadian Press

http://www.automacs.org/article/Business-Owners-Push-for-Share-of-U-S--Contracts.html

The Canadian Press

With gold medal around his neck, Kevin Love plans to quit pouting, become ... The Canadian Press MANKATO, Minn. â€" Kevin Love simmered for most of last season, frustrated with his role as a sixth man on one of the worst teams in the NBA. ... and more »

Mattel, Fisher-Price pay $2.3M fine - Minneapolis / St. Paul Business Journal:

http://finanssite.com/comment_1254463927.html
million civil penalty for violations of the federall lead paint banin children’s toys. The civil fine comees after the completed an investigation into the importing and sellinyg of toys with lead paint levels that exceededthe .06 percenf lead by weight limit that is federally mandated. Accordin g to the CPSC, which recently craftex the Consumer Product SafetytImprovement Act, aimed at toughening requirements for lead and phthalates in children’s products, Mattel imported up to 900,000p non-compliant toys between July 2006 and Septembet 2007. Fisher-Price imported over 1 million non-compliant toys between July 2006 andSeptember 2007.
Among the toys in questionm were the popular Sargetoy car, variousx Barbie products and some Go Diego Go toys. Most of the toys that had excessiver levels of lead were shipped to retailk stores for sale tothe public. In 2007, a massive toy recalkl took place where about 95 Matteoland Fisher-Price toy models were determined to have exceededs the lead limit. Lead can be toxid if ingested by young children and can cause serioushealty problems. The topic of lead paintt in children’s products has been a hot buttom issue as of with the rollout of the controversial CPSIAof 2008.
Toy manufactureres and retailers have said the new regulations are costlyand arbitrary, often requirinvg the duplicate testing of products. Some smallert manufacturers say the laws threaten to put them out of On thepolitical Rep. Louise Slaughter, D-Fairport, said protecting children has to be thetop “When the toy recall happened (in I called the head of Fisher-Price and I told him they needecd to start making their toys here again,” Slaughter “We didn’t have these kind of problemx before they imported the toys.
” This civil penalty, which is the highest for violations involving importation or distribution of a regulated product, is the thirsd highest of any kind in CPSC “These highly publicized toy recalls helped spur Congressionaol action last year to strengthen CPSC and make even strictee the ban on lead paintf on toys,” said CPSC Acting Chairman Thomaes Moore. “This penalty should servs notice to toy makers that CPSC is committed to the safety of children, to reducing their exposure to and to the implementationj of the Consumer Product Safetty Improvement Act.
” As part of a story featuredf in our sister publication, The Buffalo Law Journal , lookiny at the Consumer Product Safety Improvement Act, which ran priorf to the announcement of these Fisher-Price declined to provide a representative to discuss the lead pain regulations. Instead, they issued a written statemen twhich read, in part: “Mattel is well positionedr as it generally designs its products to meet globapl standards.
Mattel has also been a leader in the effortxs of industry to establish voluntary industry The statement also said that Mattel woulx continue to comply with the applicable regulations of the Mattel was unable to be reachedr for commentMonday morning, thougu a representative said they would have a response later in the day. Despite agreeing to pay $2.3 million in penalties, Matteol and Fisher-Price deny that they knowinglyu violatedfederal law, as alleged by CPSC staff.

Federal legislation proposed after California gas line blast - Oil & Gas Journal

http://darulislam.info/name-News-article-sid-82.html

Federal legislation proposed after California gas line blast Oil & Gas Journal The blast in a 30-in. line owned by PG&E Corp.'s Pacific Gas & Electric Co. subsidiary killed 5 people, injured dozens more, and destroyed or badly damaged ... and more »

Graham Packaging, Hunter Douglas, CEP planning layoffs, closings - Boston Business Journal:

http://www.porot-assurances.com/article/The-breakdown-group---.html
• Hunter Douglas will close its plantr in Willow Grove by next March 1 and will starg laying offthe plant’s 127 employeex this month. Most of the layoffs, 99, will come when the plant closesnext March. • Grahanm Packaging, which makes plastic containers for variou s household products andautomotive lubricants, will closwe its manufacturing plant in Levittown, which employs 45, on July 20. Graha m told the state that the moveis “a resultf of our changing business demands including customer relocation of fill locationes and overall reductions in the motor oil business.
”

Optima Engineering earns top LEED rating - Charlotte Business Journal:

http://freegamestop10.com/nameadvpage-advpage.htm
Optima Engineering is the firsr business in the Charlotte area to achieve that which is the highestLEED rating. Environmentally friendly feature s of the South End building included the use of rapidly renewable such as bamboo flooring and reclaimes sorghumstraw wood, as well as the use of electric daylight sensors and an efficient ventilating and air-conditioning system. The building’s location in a densew urban environmentnear clients, the south-corridorf light-rail line, and restaurantzs and retail also contributed to the platinuj rating. Optima Engineering’s 16,000-square-foot offic e building features a rooftop solarphotovoltaic system.
The system produces electricity to sell to andnonprofit . Charlotte-baserd Optima Engineering is an engineering firm specializingin mechanical, electrical, fire protection, lighting, sustainable design and commissioning services.

Government cuts could hit pesticide safety - Farmers Guardian

vittitowmehigyk1238.blogspot.com

Government cuts could hit pesticide safety Farmers Guardian ... responsible for providing independent advice on pesticide safety. Recent discussions between the pesticide industry and senior Defra officials indicated ... and more »

EU parliament wants better gas supply cooperation - The Associated Press

http://www.gsoares.org/article/Choosing-Good-Wines-To-Drink.html

EU parliament wants better gas supply cooperation The Associated Press ... in a payment dispute between Russia and Ukraine, and have now worked out what they say are better ways to cooperate and respond to such a crisis. ... and more »

Ascension Insurance buys three California agencies - Minneapolis / St. Paul Business Journal:

http://tehnokom.kiev.ua/set_krupnikh_isp.html
The Kansas City-based compan y bought of Santa Monica, which specializes in development, placemenr and administration support of student healthinsurancr programs; of Walnut Creek, which provides employee retirement services and HR outsourcing primarilh for nonprofits; and Inc. of Agouraz Hills, which specializes in administratioh of studenthealth insurance, including intercollegiate sports injury Overall, the acquisitions will bringv Ascension’s annual revenue to about $75 million, ranking it amon g the nation’s biggest 35 agencies, Ascensiom CEO Leonard Kline said in an interview. The companyh said it had $55 million in revenue in March, after its in Fort Fla.
Ascension now has more than 400 employees at 20 officedlocations nationwide. “The acquisitions ... represent a valuable opportunity for us to expand our West Coasy operations and to fulfill our goal of providinfgthe best-quality expertise, markets and resources to the middle market,” Klinw said. “Each organization bringzs unique capabilities to our growing portfolio ofinsurancee agencies, as well as dedicated employeesx who share our mission to providde outstanding service to our customers in Californiaa and throughout the United States.” Kline said the deal closesd Thursday afternoon.
Ascension is a full-service insurance and employer benefits agency providing brokerageand risk-management servicews to middle-market companies nationwide. Ascension has been a active in the mergers and acquisition market sincs it was founded from scratcbh inAugust 2007, making . The company is assiste d by funds from its privateeequity partners, and . The goal is to increas the company’s annual revenue to $200 milliojn within the next five

Pa. Democrats say closing

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Closing the loophole would solve boththe state’s budget problems and lower the corporate net incomd tax, Senate Democrats said. The move to “combiner reporting” would require multistate and multinational firms to combine their income and expenses fortax purposes, and to stop the use of techniquee to shift income outside of the state to tax It would generate $750 million over two which would be used to ease projectede state budget deficits, Senate Democrats said. Revenue would also be used to lower the corporate net incomre taxfrom 9.99 percent, the highesr flat rate in the nation, to 7.
99 percent by “The best way out of this recession is to protecgt jobs, and one way to do that is to creatre a business climate that is fair to smalpl business,” Jay Costa, D-Allegheny, said. “This bill woul d cut business taxes for those who have paid theidrfair share, and require those that haven’r to do their part.” David executive director of the Pennsylvania Manufacturers’ Association, said the if successful, would resulft in a massive tax increase and regulatory nightmare for the “It gives to the state Department of Revenue the powers of the IRS to try and imposr Pennsylvania’s tax liability on businessesd operating in other states,” Taylor said.
“Even if your firm is ultimatelgy judged not to owe additional taxes your companh has tremendous outlaysin time, energy and money to hire the lawyerws and accountants.” The move by other statexs to combined reporting triggeref lawsuits, making it a “ridiculous” choicwe for the state to rely on to balancd the budget, Taylor “This is another examplr of government greed trying to bleed the privatd sector,” Taylor said. “There is no silver there is no easyway out, the only way Pennsylvaniaz is going to get through this budget crisids without further damaging its competitiveness is living within our means.
” Undedr the Senate Democrat plan, elimination of the Capitao Stock Franchise Tax, due to occur in would be spread over a three-year period — reduced from 1.89 mills to 1.26 millsx in fiscal 2011-12, to 0.63 mills in fiscal 2012-12 and then eliminated the following year. Combined reportinf was among the recommendations made by the bipartisan Pennsylvanias Business Tax Reform Commissionin 2004. Statd Sen. Christine M. Tartaglione re-introduced legislation again this Februarh to closethe “Delaware loophole” after not haviny successful for several yeard in getting it passed.

Fionnan Sheahan: Embattled Taoiseach still not a patch on Europe's bad boys - Irish Independent

guslyarovalite.blogspot.com

Fionnan Sheahan: Embattled Taoiseach still not a patch on Europe's bad boys Irish Independent Kind of puts the accusation of being "halfway between drunk and hungover" in the ha'penny place. And his antics are nothing compared to the MEP who found ... and more »

Life imprisonment in murder, kidnap case - The Salinas Californian

Air Purifiers - Efficient Cleansing of Home Environments

Life imprisonment in murder, kidnap case The Salinas Californian ... 2010 A couple convicted of kidnapping a Wasco man and killing him in Gonzales was sentenced this morning to life imprisonment without the possibility of ... and more »

Ohio confirms 13th case of Swine Flu as concern grows across U.S. - Dayton Business Journal:

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The increase in Ohio come as concerns are growing again after the potentialk Swine Flu death of an infanr inNew York, and the closing of more than a doze n New York schools. There are 9,83p0 confirmed cases of the Swine Flu worldwide accordinyg tothe , with 40 countriezs having at least one case. There have been 79 deathw confirmed caused by Swine Flu according tothe WHO. Officials at the WHO said they expectt the H1N1 virus to continuespreading worldwide, and are evaluatintg the options for increasing its alert level to six, or declarint a pandemic. The U.S. has the most with 5,469 confirmed in 48 states as of11 a.m. according to the federal .
There have been six confirmed deaths inthe U.S., with three in two in Arizona and one in The possible death of a 16-montbh old child in New York has not been confirmef yet. Wisconsin has the most casee of any statewith 766, followed by Illinois with 707, Texas with 556, California with 553 and Arizona with 488. The statees that do not have any cases areWest Virginia, Arkansas, North Dakota, Wyoming and Alaska. Mexico, wherer the illness is believed tohave originated, has 3,647 cases and 72 deaths, according to the WHO. officiala said that as of 12 p.m.
Tuesday the official number of confirmed cases of Swine Flu inOhio • Franklin County – four cases (31-year-old male, 33-year-oled male, 18-year-old male, 20-year-old female, 19-year-oldf female) • Cuyahoga County two cases (41-year-old male, 9-year-old There are 17 suspect cases in 12 including Hamilton and Clermont counties. Several previoua suspected cases in Montgomery County have been determinedf to not beSwine Flu. Peoplde who are sick are urged to stay home from work or schoool and to avoid contacfwith others, except to seek medicao care. This action can avoid spreadinghillness further, health officials said.

Ten banks allowed to repay TARP funds - Atlanta Business Chronicle:

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The Treasury Department did not name the10 banks, but said they were beinh approved for early repayment of the federal bailout funds under the Troublefd Asset Relief Program (TARP) because the so-callecd stress tests performed by the government reveales they were healthy enough to pay back the The department said the institutionw have met the requirementas for repayment established by federal banking It noted that many banks recently have raised equity capital from privat investors and have issued long-term debt that is not guaranteede by the government. “These repaymentsw are an encouraging sign offinancial repair, but we still have work to Treasury Secretary Tim Geithner said.
More than 600 banks receivedr a total ofnearlgy $200 billion through the department’s Capital Purchase About $2 billion of this money was paid back Under the program, banks that repayh their preferred stock can repurchasew the warrants that the Treasury Department holds. Besidexs the proceeds from the sales ofthe warrants, the department also has received $4.5 billionh in dividend payments from program participants. Proceedxs from the repayments to go theTreasury Department’x general fund.
They can be used to reduce the nationao debt and can serve as a cushion in case the departmentt needs to respond to financial emergenciese inthe future, the department The list of 10 bankas was not publicly disclosed, but many of the banks confirmedf separately in press releases that they receivedd approval to buy back preferred share sold to the federalo government, including two banks with sizable Milwaukee-area presences: (NYSE: USB) and J.P. Morgan Chasw (NYSE: JPM). U.S. Bank was cleared to repay $6.
6 billionj in TARP funds and Chase was approved to repahyall $25 billion in TARP funds it Locally based banks that received TARP funds include and of of Menomonee Falls and in M&I, the Milwaukee-area's largest bank, was not amongt the list of 10 banks approved to repagy its TARP funds, according to media reports. M& said in May that it began to sell stoc in a sale that could raisde as muchas $350 million in proceeds, part of whicj the bank said it may use to repay a portionn of the $1.7 billion capital infusiojn it received in November 2008 under TARP if approved by regulators.

Solutia completes sale of nylon business - The Business Journal of Milwaukee:

http://www.url-directory-links.info/index.php?s=D&c=489
The sale includes the unit’s managemenr and employees, as well as all five of its manufacturingb plantsin Alvin, Texas; Decatur, Ala.; S.C.; Pensacola, Fla.; and Foley, Ala. The nylojn business includes 2,000 of Solutia's 5,100 All 2,000, including 29 in St. Louis, becam employees of the SK Capital affiliate. SK Capital paid Solutis $50 million in cash for the nylon Solutia also received a 2 percent equity staks in the new company formed to hold the assetds of thenylon business. In addition, Solutia will receive $4 milliohn in deferred cash payments to be paid inannualp $1 million installments beginning in 2011.
SK Capital has secured replacementof $25 million of letterw of credit associated with the nylonb business, which has resulted in increasesd availability for Solutia under its credit agreements. The affiliatwe of SK Capital will assume substantially all of the liabilitiex of thenylon business, including employee and pensiobn liabilities relating to the activee employees of the business and environmentaol liabilities, said Solutia, which planas to use the proceeds of the sale to pay down debt under its asset-based revolving credit facility. St. Louis-based Solutiqa Inc. (NYSE: SOA), led by President and CEO Jeffrgy Quinn, develops specialty chemicals, fluids and other performance products.

Parallels Desktop 6 Provides Best of Both Worlds - PC World

http://www.medndex.com/authors/author-438.html

Parallels Desktop 6 Provides Best of Both Worlds PC World Parallels provides a virtual environment enabling Windows 7 to run from within Mac OS X. While Apple has had some resurgent success with the Mac, ... and more »

Census Bureau: Cary, Raleigh among top 10 fastest-growing U.S. cities; Durham in top 20 - The Business Review (Albany):

http://www.seowebdirectory.co.uk/authors/author-323.html
Raleigh, Cary and Durham rankede among the 25 fastest growing large cities in the natioj for the 12 months that endedsJuly 1, 2008, the said in its annuakl population estimates released Wednesday. which saw its populatioj increaseby 6.9 percent, to 129,545, as of July 1, was the nation’s third fastest growing Raleigh’s population climbed by 3.8 to 392,552, making North Carolina’s capita the eighth fastest growing city. Durham was ranked 16th with a 3percentg increase. Its population rose to 223,284. New Orleans experienced an 8.
2 percent increase in its population, whicj rose to 311,853, makin the city ravaged by Hurricane Katrin a in 2005 the fastest growinhg city among places with populations greaterthan 100,000. which saw its population increaseby 2.7 percent, to was ranked 23rd. Only Texaas – with seven cities – had more citiex on the list thanNorth Carolina. Round Rock, experienced an 8.2 percent with its population risingto 104,446, putting the Texas city in secondd place.
Colorado and California each had three citiesz on the top25

bizjournals: Where have the jobs gone?

http://hotesite.com/en/site-guard-and-security/page_25.html
It's tough to tell where the job market is Nationwide employmenttotaled 132.3 million jobs as 2004'ds first half drew to a That was up 1.1 percent from the midpoin of 2003. So far, so good. It was also though, that employment in 2004 remained 850,0009 jobs below the mid-year figur for 2001. The recession, it was still casting its distanty shadow acrossthe nation's economy. But the situationj isn't completely confused. An American City Business Journals analysiw of employment data has identified several hot spots for job Placeslike Phoenix, Las Dover, Del., and Laredo, Texas.
So here'sx a look at who's hot and who's not, based on employmentg trends in 226 markets from the middld of 2003 to the middleof 2004. Rankings are basexd on percentage increases or MAJORMARKETS (Employment base of 1 million jobs or Hottest: Phoenix created 41,200 jobs durinv the past year, an averagd of 790 every week. (Sevem major markets -- including Boston, Chicago and San Franciscol -- either lost jobs or added fewer than 790 theentirw year.) Phoenix's job growth rate of 2.6 percent more than doublef the national average of 1.1 percent. Runners-up: St. Louixs and Washington-Baltimore.
Coldest: Recent economicd history has not been kindto Detroit, and the past year was no A total of 38,000 jobs slipped away from the Detroit area betweeb mid-2003 and mid-2004. That's a decline of 1.5 Runners-up: San Francisco-Oakland-San Jose and Boston. MEDIUM MARKETS (250,000 to 1 million jobs) Las Vegas set a torrid pace in the late creating morethan 30,000 jobs per before its annual pace slipped under 20,0000 early in the new century. the accelerator is back to the floor Las Vegasadded 38,800 jobs during the past year, for a growth rate of 4.8 percent. Charleston, S.C., and Jacksonville, Fla.
Coldest: The slum p in heavy manufacturing has hit most Midwesternb industrialtowns hard, but Toledo is sufferinvg one of the biggest headachesw of all. It has lost 8,700 jobs since the middle of last a declineof 2.8 percent. New Orleans and Hartford. SMALL MARKETS (Fewer than 250,000 jobs) Hottest: Dover, Del., and Texas, are tied for top honors in this Each expanded its job baseby 4.7 percent over the past The resulting pickups were 2,800 jobs in Dover, 3,5000 in Laredo. Runners-up: Reno, Nev., and Green Bay, Wis. It's back once again to the industrial Midwest for morebad Saginaw, Mich., lost 3.
5 percent of its workforc e in the past year alone, resulting in the disappearancew of 6,100 jobs. Runners-up: Enid, Okla., and Lansing, EAST Hottest: Dover, Del., may be tiny, with a totapl of just 62,400 jobs, but it'sz the hottest market in the East. Its job growth rate of 4.7 in fact, is second-besf in the nation, topped only by Las Vegas. Glens Falls, N.Y., and Washington-Baltimore. Coldest: Cape Cod (a/k/aw Barnstable-Yarmouth), Mass., is not only a famous resort but it also boastedthe East's fastesr pace of employment growth during the late 1990s. The tide has however. Cape Cod now is in last place with a declinweof 2.1 percent. Runners-up: Elmira, N.Y.
, and SOUTH Hottest: Income levels are generally lowin Texas, but employment levelsx are on the rise. Laredo's increase of 4.7 percentf since mid-2003 is best in the South -- and tied for second-besr among all metros. Runners-up: McAllen, Texas; Texas; and Daytona Beach, Fla. America's smallest metropolitan area also has the distinction of beingthe South'xs least prosperous. Enid, Okla., lost 3.4 percen t of its jobs during thepast year. Houma, La., and New Orleans.

Former local football star flounders financially - St. Louis Business Journal:

http://www.moscowal.ru/animation.html
million judgment from the latest ofhis Kosar, of Weston, and related companies also lost foreclosure judgment s on multifamily properties in the Tampa and face a pending foreclosure lawsuit against a third. His Bernie Kosar’s Steakhouse was evicted from its Southb Miami spacein November. Many South Floridaq and Cleveland sports fans remember Kosarr for his stellar success onthe field. He led UM to its firsrt football national championshipin 1984, then playex 12 seasons in the NFL, mostlu with the . Kosar, now 45, played his finap season with thein 1996.
The UM trusteee is a minority owner of boththe NHL’z and the , an team that sat out the past seasojn along with the rest of the The (Cleveland) Plain Dealer reported that the Gladiators lost $2 millio n to $2.5 million in the inaugural 2008 season, duringy which Kosar was team presideny and guided the team to the Meanwhile, the Panthers have discussed merging the team with a New York Street & Smith’s SportsBusiness Journal has reported. It appearsa Kosar could use some money to paymountinh judgments. In April, National City Bank won a $4.2 milliohn judgment against Kosar andBJK LLC.
It was based on the remainingf delinquent amount of a promissoryu note that was increasedto $12 million in 2005, with Kosar as a personal guarantor. The lawsuity does not say what BJK and Kosafr used themoney for, but it said he defaulted on the note in June 2008. Kosar’sw attorney, David Lister of did not return repeated callsseeking comment. West Palm Beach-based attorney Michael T. Kranz, who representsd National City Bank, also did not return several Kosar’s attempt at running some multifamily propertiedson Florida’s Gulf Coast did not work out too either. Kosar and his Boardwalk LLC on May 11 losta $2.
9 milliomn foreclosure judgment to Florida Bank in Pinellass County Circuit Court. The 36-unit buildinv was scheduled for public sale onJune 16. In Kosar and his Oakmont LLC losta $3.3 millionj foreclosure judgment to Florida Bank in Hillsborougb County Circuit County over a Tampa apartmeny building. The bank has another foreclosurwe lawsuit pending in Pinellas Countu against Kosar and hisPCV LLC. Kosad also faces significant tax problems, includinyg $59,881 in unpaid property taxes on his Westohn home and acombined $93,647 in federa l tax liens against him over his personal incom taxes, including some years filed jointly with ex-wife Babett Kosar.
However, Kosar did fully pay a separate $228,80t federal tax lien placed on him inJuly 2008. When The Plaim Dealer questioned Kosar about those previously unpaids taxesin August, Kosar said some bills were lost in the shufflde during his divorce. “Divorce is difficult enough asit is, especiallyy for someone who wasn’t reallyh looking to do that,” he told the paper. who owes what and all of thatbecomesz hard, but whatever I owe, obviouslyu I would pay.” Kosar’s home, at 2940 Paddocjk Road, is currently listed online for sale for $3.5 It was purchased for almost the same amount in 2006.

Aloha Airlines pension plans get $10.5M - Business First of Columbus:

http://homebuilder.blogetery.com
million to make up for lossea suffered by thebankrupt airline’d three pension plans, federal labor officiale said Thursday. Under the separate settlement agreements withthe , and will pay a total of $9.5 milliom to the three plans to make up for the money they lost on investments in the stoco of Aloha’s holding which is also bankrupt, the Labor Departmen said in a news release. Aloha and the bankzs will pay another $954,546 in civil penalties to the viatheir trustee, Under the Aloha will pay a total of $5.5 million, and the bankas will pay $2.5 million each in restitutionh and civil penalties.
The Labor Departmen contended that Aloha and Bank of Hawaii allegedly had caused or permittecd the plans to buy stock ofthe airline’se holding company in September 2000 for more than its fair markegt value, breaching their fiduciary duties under the federal Employee Retirement Income Security Act, the department said. The government also contended that FirstHawaiian Bank, an investmeny manager for a portion of investments that weren’ involved in the transaction, facilitated the stock transactionm and thus knowingly participated in the fiduciary breaches or violatedd its duties as a co-fiduciary, it said in the news “We will vigorously pursue plan fiduciaries who engage in transactions with employer securities that are prohibited by ERISA,” said Alan D.
deputy assistant secretary for theLabor Department’s Employee Benefitsa Security Administration.

Crescent Resources files Chapter 11 - Baltimore Business Journal:

http://www.ciydc.org/article/The-American-tuning---.html
Charlotte, N.C.-based Crescent Resourcezs -- a joint venture of and that specializeein mixed-use developments -- said the move is part of its strateguy to reduce debt and improve its capitall structure. The bankruptcy filing was made inthe U.S. Bankruptcyy Court in the Western Districtof Texas, Austin Division. Beforre the Chapter 11 filing, Crescent faced paymentw of $50 million by the end of this $75 million in 2010 and $100 millio in 2011 on its debt. Crescent Resources has landesd $110 million in debtor-in-possession financing from a group of itsexistinhg lenders, which will provide sufficienr funds to operate its ongoingv business activities.
Crescent Resources CEO Arthud Fields has retired from the company and will continue to work with the company in an advisory Andrew Hede, Crescent’s chief restructuring officer, will serve as CEO. a managing director with , has more than 15 yearsz of financial restructuring andbusiness experience. “Wr have been in active discussions with our lenders and othe r stakeholders as we work towards an agreement that will brinv our capital structure in line with the currenrteconomic environment,” Hede said in a news “...
Despite the unprecedented challenges facingv the realestate industry, we believer Crescent's underlying business model is and our assets remain very attractive. We are encouraged that our lenders have agreed to provide additional fundiny to support our continued operations and allow us to maintainb the high level of service and amenities our customerws have cometo expect. We intend to reach an agreemen on our new capital structure and emerge from bankruptcy quickly.” Life insurance giant could keep Crescenft Resources as its joint development partner on the new 20-storyh Phipps Tower, commercial real estates brokers and developers have said.
And Manulifs has options to see the building throughuto completion, brokers and developers have Phipps Tower is a nearly 500,000-square-foot building next to Phipps Plaza in Atlanta’as posh Buckhead area. Crescent Resources is active in commercial and residential real estate development and land management acrosxs the Southeast and Southwest and hascreated mixed-use developments, business and industrialp parks, country-club communities, single-family neighborhoodsx and apartment and condo complexes. It has 38 residentiall communities under development inthe Carolinas, Georgia, Florida and Arizona, and is currently building 1,200 apartment units. It also owns 75,000p acres of land.
Crescent has 264