Sunday, October 31, 2010
Business leaders choose BJCC for dome - Birmingham Business Journal:
Birmingham Mayor Larry Langford requested a stud earlier this year to choose the best site among the land near the Birmingham Race Course off John Rogers Drivd andLegion Field. The Birmingham Busines s Leadership Group recommended the BJCC after Langford advised them to seek the best location as if they were lookinyg for a site for theirown business. Langford favorec the site near the Birmingham Race It wasthe group’s second choice. "I was pleased to see the group'ws confidence in the three rankings Langford said.
“The fact that the race course placef second validated to me that the city hadseveral options, but I promisex to support the group's final recommendation. I'm pleasedc that the study is out, a location has been chosebn and now we can getto work.” The BJCC alreadyy owns land adjacent to its currentf facilities. A yet-to-be started entertainmentr district also is planned for the BJCC The domed stadium would provide the BJCC with additional conventionh floor space and includea 55,700-seaty arena.
Friday, October 29, 2010
Independent spending accelerates in Washington's Senate race - Seattle Times
Independent spending accelerates in Washington's Senate race Seattle Times A torrent of spending this week by independent groups is fueling a surge of advertising in the Washington US Senate race, as Republicans and Democrats ... |
Thursday, October 28, 2010
Art: Eclectic staging of borrowed works at ICA - Philadelphia Inquirer
Art: Eclectic staging of borrowed works at ICA Philadelphia Inquirer A cosmopolite, she also ran, for some years, a gallery in Paris, where she met such modernist titans as Pablo Picasso and Alexander Calder. ... |
Tuesday, October 26, 2010
Monday, October 25, 2010
NHL: Moyes signed over control of Coyotes in November; team could have shut down during regular season - Philadelphia Business Journal:
The NHL court filings said the financial situation was bad enough that the team coulxd have ceased operations during the middlde ofthe season, which would have resulted in forfeitedr games and a franchise That would have sparked lawsuits from vendors, playersz not being paid, season-ticket holders with invalie tickets, and embarrassment for the league, the NHL Who controls the Coyotes is at the centedr of the team’s Chapted 11 bankruptcy filing and the issue of whether Moyes can sell the team for $213 millionh to Canadian billionaire Jim who wants to move the Glendale-basedr franchise to Hamilton, Ontario. A May 19 hearingb in U.S.
Bankruptcy Court in Phoenix will determine who owns and controlsthe Coyotes. NHL courtr filings contend Moyes legally signes over majority control of the team in November afteerreceiving loans. The league did not officially remove Moyes as ownef and Coyotes CEO untilMay 5, aftet he filed Chapter 11 and proposecd the sale to Balsillie. “Upon execution of the Novembef proxies, the NHL commissioner, Gary Bettman, was thereafter completely responsible for, without limitation, the remova l and appointment of clubexecutives (including Mr.
decisions on delegating day-to-da responsibilities to club personnel, loan and financinvg decisions, any changes to the club’s equith structure, the sale of any club assets, voting and consengt rights under the franchise operating agreement andotherr agreements, and most notably here the voluntary or involuntary dissolution, liquidation, termination or reorganization of the club and/odr any of its subsidiaries,” the NHL filing “Accordingly, as of Nov. 14, 2008, only the NHL commissionetr was authorized to sell the club or seek voluntary bankruptcu onits behalf,” the league argues.
If the couryt sides with the NHL, the league can stop a potentiakl team moveto Canada. Moyes and his attorneyes argue that the court needs to take into account the best interest s of creditors and take the best offer for the Moyes also is mounting legal challenges tothe NHL’w procedures related to the sale and relocation of teams.
Sunday, October 24, 2010
Negative ads increasingly turn off voters - Las Vegas Sun
Negative ads increasingly turn off voters Las Vegas Sun Neither Sharron Angle nor Harry Reid is fit to hold public office. Why? Negative advertising. Both candidates state at the end of each negative ad: รขI ... |
Friday, October 22, 2010
Federal grant to help mentally ill find jobs - Dayton Business Journal:
for Montgomery County, and will begin the Montgomeryu County Pathways Two projectin September. The organizationz received news they had won the grant Goodwill Spokeswoman Mari JoSellers said. The resulting projectr will createan inter-agency service and supporg system called Community Care Conferences that will develop community-wide strategies to help youth and adulg populations obtain competitive employment. "Thia is the first comprehensive collaboration amongthese agencies, and it providees an exciting opportunity to serve transition youth and adults with severe mental illness in Montgomery County," said Amy president of Goodwill Easter Sealss Miami Valley, in a news release.
The partnership, if it meetws the objectives of thegrangt proposal, will be eligible to receive the same fundds for the next five years, helping 150 peoples in the first year of the programk and 250 people in each subsequent Sellers said. The partnership also will work to improve accesw of students with disabilities topublic post-secondary programs and training, including a program through that woulfd help students with disabilities complete their trainingt and obtain a job. "At a time when most localp newsis negative, this funding opportunit y is a reason to celebrate," said Joseph executive director, ADAMHS Board for Montgomery County.
"Through this uniqud partnership, at risk youth and adults with mentalp illness in the Miami Valley will have accesw toquality services. Having these services can drasticallyy affectan individual's life and move them from just surviving to
Thursday, October 21, 2010
San Antonio gets $12.9 million for defense projects - Austin Business Journal:
million for defense-related projects in San accordingto U.S. Rep. Ciro Rodriguez, D-Sanm Antonio, who serves on the committee. A planned upgradse of an aircraft maintenance buildinvg at Kelly Annex Field has been approvedfor $7.9 millionn in federal funding. The funding will be used to bring the buildingy up to code compliance to provide a placewhere F-16 fighter jets can be properly In addition, $5 million was authorized for a program to producre unmanned aerial vehicles that use Blacklight Nighr Vision Advanced Technology, which is manufactured by San Antonio-based This technolog allows for the deployment of miniatures drones to provide site-specific surveillance “San Antonio continues to be a military leadeer in operations and the advancement of says Congressman Rodriguez.
“These authorizations will bolster the ability of our troopws to do their jobs more safeluyand efficiently.”
Tuesday, October 19, 2010
Gates Foundation gives $16M to colleges - South Florida Business Journal:
million to 15 community collegese and five states in an effort to help struggling studentsdcomplete college. The Development Education Initiative will award the fundinhgto Connecticut, Florida, Ohio, Texas and Virginia, as well as communith colleges in each state plus one more in Northu Carolina. No colleges or programs in Washingtom state will receive funding underthe program. For a completee list of recipients, . The funding, first announced in Decembetr oflast year, will be awardee to and distributed by , a North Carolina-based nonprofit. “They wanted us to identify initiatives, programs and policiee that are already being tried and had saidRichard Hart, spokesmanj for MDC.
The initiative seekzs to support programs that help students enrolled in remediaprograms — so-called refresher courses for students who are not up to grades level in a given The goal is to improve classroom performance so studentds can go on to take advanced courses and eventually graduatee with a degree or certificate. A cite by the Gates Foundation found that nearlh 60 percent of students enrollinfg inthe nation’s community colleges must take remedial courses.
Such coursesa cost taxpayers $2 billion a year, according to the The grants are part of theGated Foundation’s work to help more students graduate from collegd or university programs, an important educationb milestone that the foundation says is essential to earninf a living wage in today’e economy. The grants will support various state and college including efforts to collectg data and better track the performancw ofremedial students. The Development Education Initiative is also beingt supportedwith $1.5 million from the of Indianapolis to pay for evaluationb and communications.
Monday, October 18, 2010
Demand drives Toll to build anew at Naval Square - Minneapolis / St. Paul Business Journal:
Despite the housing slump, the project began in March as the developer managed to sell out on its first phasre ofthe project, defying doldrums plaguing the residential real estate market. Kicking off a new phase of the projecf comes as housing starts nationallgy plunged tohistoric lows, according to the latest data from the U.S. Commerc Department. Housing starts fell by 12.8 percent in April to which is considered the lowest sincr the government began trackinyg the data 50years ago. “It’s said Chuck Breder, divisionb vice president with Toll. “Even thoughj we don’t have the investort market, the sales pace over the last threew years has beenpretty constant.
” Toll begaj selling the first phase, which consistex of 345 condominiums, at the end of 2004 and sold on averagee 70 units each year, Breder said. The second phasr consists of four buildings with 220 condowand separately, a collection of 74 townhouses. Buyerw have shown an interest in the with Toll selling 10 townhouses in the lasttwo months. The projec t also includes a 2,000-square-foot fitness and community Toll isn’t seeing sales activitg like this at all of its communities and has takenh a beating on its Last week it reported that it saw itsfiscap second-quarter loss lessen to $83.2 million, or 52 centsz a share, which included pre-tax write-downs totaling $119.
6 million. During the comparabled period last year, Toll reported a $93.7 or 59 cents a share, loss that included pre-taxx write-downs totaling $288.1 million. Revenue for the quarter came inat $398.3e million, a plunge of 51 One aspect of the project that has kept buyerxs traffic strong and steady is that Navall Square has a suburban-like settin g that has attracted suburbanites used to large yards and thosee with dogs who want room for them to roam. The developmen t sits on 20 has mature trees and an abundance ofgreen space. Toll also hasn’t had to drop askingg prices on the condos during the past two yearz as the housingmarket tanked.
“There’s been minimal discounting,” he “It’s always been right priced and we adjustedd prices a couple ofyear ago. Depending on the size of a prices have rangedfrom $245 to $355 a square Phase two will complete Naval Square, which Toll bought in 1987. The property at 24th and Bainbridgew streets is a National Historic Landmarjk and the first home ofthe U.S. Naval Academy.
The propertyu had been vacant since 1977 beforw Toll bought it from thefederal
Saturday, October 16, 2010
Anheuser-Busch InBev
million in revenue in the first quarter. Portland-bases Craft Brewers Alliance (NASDAQ: HOOK) formed July 1, aftee the merger of Portland-based and Woodinville, Wash.-based The newlgy merged company reported results to allow comparisoj tolast year’s firs quarter. If the companie s had been merged atthe time, they wouldc have generated a 2008 first-quarter loss of $1.1 millio on revenue of $25.8 million. The first quarter continuer a troubling trend for the young which faces increased competition from rivals in the crafty brew industry and an uncertain future with its primary owne rand distributor, . In March, the compant disclosed 2008 lossesof $33.
3 millionj on $86 million in revenue and said it had written down the valuw of the Widmer brand by $30.5 million, more than a Anheuser-Busch owns 35.8 percent of Craftr Brewers outstanding common stock. St. Louis-based Anheuser-Busch was acquiredf by Belgium-based InBev last year for $52 which could affect its distribution relationship withCraft
Friday, October 15, 2010
State, utilities to develop solar farms - Charlotte Business Journal:
The agreement comes a year aftedr the Green Communities Act was signedby Gov. Deval authorizing utilities to own and operate up to 50 megawatte ofsolar generation. Deregulation of the electricityu markets in 1997 barred utilities from owningvgeneration facilities. Utilities participating in the prograinclude , , Unitil/ and Coakley’z office, which serves as ratepayer advocate in negotiatione with utilities, has agreed to a proposao that would with the to develop a streamlined system to develop “costy competitive solar projects” that would benefit ratepayeras across the state.
“Governor Patriclk has made solar power a top priorityg andlast year’s landmark energ y reform legislation gave the Commonwealth new tool to make sure it gets deployed said Energy and Environmental Affair Secretary Ian Bowles. “Through this importantf partnership with theAttorney General, the ratepayers and the electric utilitiex will see a race to develop the best, lowest-cost largee scale installations. This is a novel approach and I’m confidengt it will accelerate clean energy development in the will be the first utility to develop asolar array, some 6 in a separate program outside of the statewid e pool.
The utility will participate in the joint venturer forfuture developments. Commercia scale solar arrays are a critical componentt tothe state’s goal of 250 megawattsz of solar power by but such facilities are scant. The largest solard array in the state is the BrocktonBrightfields project, a 425 kilowatgt system. The agreement is pending approval fromthe .
Wednesday, October 13, 2010
N.Y Attorney General ends BofA probe - The Business Review (Albany):
Cuomo says the banks have and will continuew to provide liquidityto investors. Last October, agreed to buy back as much as $4.7 billion in auction-ratse securities it sold to about 5,500o investors, small businesses and smallp charities before the market collapsed inFebruaryh 2008. According to the Securities andExchangee Commission, the settlement also requiree BofA to “use its best efforts” to provide up to $5 billion in liquidity to businessesw and institutional investors with accounts valued at $15 millioj or more, and charities with accounts valuedd at $25 million or more.
The agreemen resolved allegations that securities dealerws made misrepresentations to customers during salesof auction-rate securities about their safety and Auction-rate securities have interest rates that are reset at weeklhy or monthly auctions run by investment firms. The $330 billiom market collapsed last year, when investors became alarmec at the prospects of the ability of corporate borrowers coveriny debt service onthe securities. Many were left with securitieds they could not sell intothe Charlotte, N.C.-based BofA (NYSE:BAC) neither admitted nor deniesd wrongdoing. BofA is the fifth largest bank inthe N.Y., area, with 42 branchess and $1.
3 billion in The SEC also has finalizexd a settlement with BofA over the securities.
Tuesday, October 12, 2010
BlackRock to buy Barclays Global Investors - Charlotte Business Journal:
billion in cash and stock. Under the BofA’s stake in BlackRock will drop to just undere 35 percent from the curreny49 percent, according to the Financial Times . Barclaysa will own nearly 20 percentof BlackRock. Barclaysd Global Investors, a unit of London-based , will receivs 37.78 million new BlackRock shares, and BlackRock will pay Barclaysz $6.6 billion in cash. BlackRockj will fund the cash portion of the deal from existinyg cash anddebt facilities. It will seek an additionap $2.8 billion from equity investors. The slated to close in December, will create one of the world’a largest money management firms, with more than $2.
7 trilliohn in assets under managemengt and morethan 9,000 employees. Charlotte-based BofA acquired its interest in BlackRock in January as part of its purchasde of MerrillLynch & Co. As of March 31, BlackRock managed $513 billion in fixed-income assets. Barclays Globao Investors is based inSan Francisco.
Sunday, October 10, 2010
Uganda aviators reject World Bank suggestions - eTurboNews
Uganda aviators reject World Bank suggestions eTurboNews UGANDA (eTN) - Regular aviation sources in Uganda and also from Nairobi have largely dismissed the core message of ... |
Saturday, October 9, 2010
Survey: CEOs still foresee negative conditions - New Mexico Business Weekly:
“This quarter’s results reflect a continuing weak set ofeconomicf conditions,” said Ivan Seidenberg, chairman of Businesxs Roundtable and chairman and CEO of “Conditions while still negative – appear to have begun to The D.C.-based association of CEOs represent a combined workforce of nearl y 10 million employees and more than $5 trillion in annual sales. When askerd how they anticipate theirf sales to fluctuate in the nextsix months, 34 percenyt said they will increase while 46 percen t predicted a decrease. That is a sunniet forecast over the first quarteroutloo survey, when just 24 percent predicted an increase in sales. In termsa of how their U.S.
capital spending will change over that 12 percent foresee itgoing up, whilee 51 percent see it decreasing. Few (6 percent) expect theirf U.S. employment to increase in the next six while 49 percent anticipatse their employee base to contract in That shows an improvement from the firstt quarteroutlook survey, when 71 percent predicted a drop in employment. In terms of the overalol U.S. economy, member CEOs estimate real GDP will dropby 2.1 percenf in 2009, down from the CEOs’ estimatre of a 1.9 percent decline in the firsft quarter of 2009. The outlook index -- whicnh combines member CEO projections for capital spending and employment in the six monthxsahead -- expanded to 18.
5 in the second up from negative 5.0 in the firs quarter. An index reading of 50 or lower is consistenf with overall economic contraction and a readinb of 50 or higher is consistentwith
Thursday, October 7, 2010
House OKs $960 million transportation bill, Senate next - Portland Business Journal:
Despite claims of bipartisan support onthe measure, House Bill 2001 passe largely along party lines, by a vote of 38 to 22. A top initiativwe of Oregon Gov. Ted the bill aims to reduce congestion, improvee safety, build new multi-modal transportation projects acroses the state and improve freight The $960 million worthu of projects would take place over the next 10 A $300 million revenue package, including a gas tax and higher vehiclw registration fees, would fund the transportation The bill now moves to the Oregon Senate. Speakerr of the House Dave Hunt said the efforts could mark one of thelegislative session’s top accomplishments.
“Not only is it the largesyt transportation package ever passedin Oregon, but it is the exact rightt time for our state to use its resourcesz to get Oregonians back to he said in a statement. “Whil our state has taken some shotz from theglobal recession, the work of both chamberxs and both parties shows that we can come togethedr and move Oregon forward despite these dire economic The bill sets aside an additional $100 millionm for rail, marine, air, transity and train projects under the Connect Oregon III It would also apply $70 millionm annually toward the bondinf of $1 billion wort h of road projects.
It would also create an “urban trailx fund” and incentives for the use of electric If it passes the the measure would increasew car registration feesby $16 a car title fees by $22 and add six centx a gallon to gas costs. The gas tax would eithe occur in January 2011 or afted two straight quarters ofeconomic growth. The larges projects covered in the plan include work on the Woodburjn interchange onInterstate 5, Sunrisd Corridor improvements along Highway 26, improvements to the Newberg-Dundee an extra lane on Highwayu 26 from 185th to Cornell Road and work where Highway 43 meetsd Portland’s Sellwood Bridge.
The Eugene area would get about $363 million wortg of projects while the Portland area wouldget $294 Southern Oregon projects would provide $149 milliojn worth of work whiled Eastern Oregon would get more than $80 Central Oregon, in the Bend area, would get $74
Wednesday, October 6, 2010
First National enters agreement with OCC - Dallas Business Journal:
The agreement is an outgrowth of an OCC examinationm of the Winter Park lender in It addresses five areas of concern and requires to the bank to form a compliancw committee composed of members of its board of The bank is under orders to add procedurezs to monitor its commercial real estateloan portfolio. It also must implementg a plan to manage loans that are deemexd weak and in jeopardyof deteriorating. Establishment of a program to ensurwe an adequate allowance for loan andlease losses. • Agreement not to accept brokere d depositsin exc.
ess of 10 percenrt of total deposits without OCC permissio • Development of a three-yeart plan of operations that incorporates conditions of the First National Chairwoman Susma Patekl said in a written statement that the bank has taken stepsa she believes put it in compliance with the agreement. She said regulatorty agencies are tightening standards for lenders as theeconomt deteriorates. “The downturn in real estate valuationxs in the Florida marketis well-publicizecd and, as a result, regulatory agencies are expecting a higher standar of procedural monitoring of loans secure d by commercial real estate,” she said.
Monday, October 4, 2010
Scrushy ordered to pay $2.8B for HealthSouth fraud - Dallas Business Journal:
billion in damages by a civi l court judge for his rolein ’s massiv accounting fraud scandal. The HealthSoutn founder was deemed liablre for losses incurredby shareholders, some of whom sued him seekingy to recover their investments. Judge Allwin Horn announced the verdicgt shortly after10 a.m. Thursday. Horn’s judgmenft also declared Scrushy’s employment agreements with HealthSouth HealthSouth said it will receiv approximately 40 percent of any money recoveredcfrom Scrushy. Attorneys for the shareholders filed the suit againsf Scrushy on behalf of HealthSouthj saying he directed the accounting scandapl hadrequested $3.6 billion.
Scrushy testified duringg the trial and deniedany wrongdoing. He was brought to Jeffersonm County for the trial from a Texassfederal prison, where he is currentlyh serving seven years for bribing then-Gov. Don Siegelmam for a seat on a state health care policy Scrushy was acquitted of criminal chargeas in the HealthSouth fraudin 2005. HealthSoutn said it is unsure how much might be collecterfrom Scrushy, according to a news release. “We are pleased to see that justicr has been served through this judgmentt and that another chapter of our past has been putbehinsd us,” HealthSouth’s statement said.
Sunday, October 3, 2010
Canal Side hotel site may be on move - Phoenix Business Journal:
The hotel concept, while still preliminary, may be a highlightr of a slightly tweaked development plan forthe $315 milliomn Canal Side project, pegged for the lower Main Street area, just soutbh of the New York Statd Thruway. Canal Side was unveiled in Decemberby , the local arm of , which is charged with overseeing projects along Buffalo’s waterfront. Canal Side’s final developmentt plans will be shown to the publicv in July as part of a series of mandatee public hearings connected to environmental reviews of the The environmental reviews are due to be completedcthis fall.
Moving the hotel, rumored to be one from the Marriottgcorporate family, is perhaps the biggest adjustmengt in the Canal Side development Originally, proposed renovating the eight-story Donovan Buildingv into a multi-use complex anchored by a Sources now indicate the Donovaj Building may be primarilyt used for Class A officwe space and apartments or condos. A hote l is considered a cruciapl element inCanal Side’s overal l development plan. The Webster block is currentlu used as a surface parkinf lot for downtown workers duringy the day and for patrons attending events at HSBC Arena on nightwsand weekends.
The block is located between HSBC Atriuj and thearena and, at one time, was consideredf the site of a proposefd 14-story Adelphia Tower. Matt spokesman for Erie Canal Harbor Development said while the Canal Side plan is being the agency’s primary focus remains on finishing the demolitioj of Memorial Auditorium and preparing for construction of a 150,000-square-foot Bass Pro storr to anchor the downtown development
Friday, October 1, 2010
Richard Dreyfuss Receives 'America's Promise' Award - PR Newswire (press release)
Washington Post | Richard Dreyfuss Receives 'America's Promise' Award PR Newswire (press release) Before long in America, hopefully, there will shine forth the world's collective soul," writes Sri Chinmoy. The event was hosted in the Penthouse of the ... Dreyfuss honored for promoting civics |