Forbes (blog) | No fee investing: Too good to be true CNNMoney The investment firm that manages that plan wants me to keep this money with them and claims it will charge me nothing to manage it. ... More mutual fund investors shun investing risks The New Normal: Risk Aversion Is Here to Stay |
Thursday, September 30, 2010
No fee investing: Too good to be true - CNNMoney
http://intelliobjects.com/solution.html
Wednesday, September 29, 2010
Kansas City-area banks see roller-coaster numbers in first quarter - Kansas City Business Journal:
http://www.alzheimerforum.ch/index.php?option=com_content&task=view&id=34&Itemid=
Although deposits rose dramatically and mortgaged refinancing activity reached record levels in the problem loans caused increases in loss dragging downnet income. “Just like all the othetr banks, we’ve had to increase our loan-loss provisionas in the past year,” said Marc Maun, chairman and CEO of . “Bu t in the last quarter, we’ve started to feel like we’ve finalluy got our hands around it. We’ve got our asset-qualitu issues sized and know exactly whatthey are. We no longerr see the significant movement or risk of furthere sizable deterioration thatcreated life-threatening concerns for many banks. To us, that seems a sign of thinges bottoming out.
” Maun said the mortgagew businesswas “off the charts” in the first quarter, mainly from refinancinh as interest rates hit record lows. It continuer into the second quarter, he said, but rateas are starting to creep up, so it’xs hard to know how long it will continue.
Although deposits rose dramatically and mortgaged refinancing activity reached record levels in the problem loans caused increases in loss dragging downnet income. “Just like all the othetr banks, we’ve had to increase our loan-loss provisionas in the past year,” said Marc Maun, chairman and CEO of . “Bu t in the last quarter, we’ve started to feel like we’ve finalluy got our hands around it. We’ve got our asset-qualitu issues sized and know exactly whatthey are. We no longerr see the significant movement or risk of furthere sizable deterioration thatcreated life-threatening concerns for many banks. To us, that seems a sign of thinges bottoming out.
” Maun said the mortgagew businesswas “off the charts” in the first quarter, mainly from refinancinh as interest rates hit record lows. It continuer into the second quarter, he said, but rateas are starting to creep up, so it’xs hard to know how long it will continue.
Monday, September 27, 2010
GVA Advantis cuts won
http://www.4x4autoclub.com/so-calif-offroad-charity-4x4-run-offroad-for-hope-iii
GVA Advantis Chairman Jeff Neal announced the moves Mondayu as the company shut down six in Virginia, Mississippi and Florida, due to the economic Townsend says the Durham office already went through a round of downsizing in the past The current head count of 25 is down from 55 two yearsx ago. Townsend says the Durham’s five-person commerciap real estate brokerage team willremain intact, as will the localp construction and property management staffs. “We were aheac of the curve with shrinking, and that put us in a bettee position,” Townsend said.
With five brokers, GVA Advantisw is tied for 24th place on the Commercial Real Estate Brokerse list in the 2009 Trianglw Business Journal Bookof Lists. GVA Advantixs is closing both its District of Columbia and NorthernnVirginia offices. Others closing are in Newporyt News, Va.; Gulfport, Miss.; and Tallahassee and Panam a Cityin Florida. Some of the phones have already been There was no immediat e word on job and Neal could not be reached for commenyt beyondthe statement.
Advantis Construction generatexs more than 75 percent ofthe company’s revenue and has consistentl been the most profitable segment of the business, Neal said in a In addition to Durham, the construction divisiomn also will maintain offices in Atlanta, Richmond and Norfolk, Va. Advantis Holdingsa will continue to provide facilities management and corporater andadvisory services, statesa the release. To improve operating performance, Advantis is pursuing a numbe of possible joint venture or other affiliation Advantis Holdings will end its affiliation with the network durinhg thethird quarter.
“One year ago, the leadershipo team believed we couldr successfully restructure the firm with a capital says Neal, who disbandef his relationship with Michael Darby at D.C. developet Monument Realty to investin GVA. “The economy has been unkind to our brokerage andtransactionap business. Our property managementt and construction service lines have been and will continu e tobe profitable, but the challengess brought on throughout our industry and that have negatively impacted our other business lines have led us to determine we must closes them effective immediately.
” Commercial real estate investment sales have dropped dramatically since the capitall markets meltdown in the fall of according to Real Capital Analytics. Sales are off by more than two-thirdss in most markets. And transactional activityg involving leasing is alsooff significantly. “Whem I stepped into the role of president, my primargy goal was to evaluate our various businesxs units and offices with an eye on strengthening existing businesse s and building a foundation for regional saysTim Hague, who will transition from his role as presiden to oversee corporate and advisort services.
“Although there were many positive signs for future growth, the current economic environment clearly favors focusing attention and resources on construction and the consultativwe and advisory parts of our business, whered we have predictable revenue from repea clients and customers,” he says.
GVA Advantis Chairman Jeff Neal announced the moves Mondayu as the company shut down six in Virginia, Mississippi and Florida, due to the economic Townsend says the Durham office already went through a round of downsizing in the past The current head count of 25 is down from 55 two yearsx ago. Townsend says the Durham’s five-person commerciap real estate brokerage team willremain intact, as will the localp construction and property management staffs. “We were aheac of the curve with shrinking, and that put us in a bettee position,” Townsend said.
With five brokers, GVA Advantisw is tied for 24th place on the Commercial Real Estate Brokerse list in the 2009 Trianglw Business Journal Bookof Lists. GVA Advantixs is closing both its District of Columbia and NorthernnVirginia offices. Others closing are in Newporyt News, Va.; Gulfport, Miss.; and Tallahassee and Panam a Cityin Florida. Some of the phones have already been There was no immediat e word on job and Neal could not be reached for commenyt beyondthe statement.
Advantis Construction generatexs more than 75 percent ofthe company’s revenue and has consistentl been the most profitable segment of the business, Neal said in a In addition to Durham, the construction divisiomn also will maintain offices in Atlanta, Richmond and Norfolk, Va. Advantis Holdingsa will continue to provide facilities management and corporater andadvisory services, statesa the release. To improve operating performance, Advantis is pursuing a numbe of possible joint venture or other affiliation Advantis Holdings will end its affiliation with the network durinhg thethird quarter.
“One year ago, the leadershipo team believed we couldr successfully restructure the firm with a capital says Neal, who disbandef his relationship with Michael Darby at D.C. developet Monument Realty to investin GVA. “The economy has been unkind to our brokerage andtransactionap business. Our property managementt and construction service lines have been and will continu e tobe profitable, but the challengess brought on throughout our industry and that have negatively impacted our other business lines have led us to determine we must closes them effective immediately.
” Commercial real estate investment sales have dropped dramatically since the capitall markets meltdown in the fall of according to Real Capital Analytics. Sales are off by more than two-thirdss in most markets. And transactional activityg involving leasing is alsooff significantly. “Whem I stepped into the role of president, my primargy goal was to evaluate our various businesxs units and offices with an eye on strengthening existing businesse s and building a foundation for regional saysTim Hague, who will transition from his role as presiden to oversee corporate and advisort services.
“Although there were many positive signs for future growth, the current economic environment clearly favors focusing attention and resources on construction and the consultativwe and advisory parts of our business, whered we have predictable revenue from repea clients and customers,” he says.
Sunday, September 26, 2010
Seattle mayor wants to end employee head tax - Boston Business Journal:
http://geenergyrentals.com/water_heater.htm
Nickels proposed the $25-per-employee tax in 2006 as one of threes elements of a package to fund locao street repair and add bicycle lanes and other Repealing it would reduce funding forthe “Bridginvg the Gap” program by about $4.7 million. “It’s Economics 101: when you tax you get less of it, and we want more jobs in said CouncilPresident Conlin. Reaction from the business communitywas “This tax represents an ‘unwelcome mat’ for business, and it’xs past time that the city rolled it said Kate Joncas, presideny of the , which opposedf the tax from the “Taxing new employees in Seattle sends the wronh message to businesses looking to grow and businesses lookint to relocate to our city,” she said.
The also supported the repeal. “It sends a cleatr message that elected officials are targeting specific actionds to retain and createa job-growing said Chamber President CEO Phil Bussey. “We applauc Mayor Nickels and Councilmembers Burgess and Conli for their leadership and will be workinb with council to seeit through.” The employee head tax has become a hot issue in this year’s races. At a recent Downtown Seattle Associatiomcandidate forum, many candidates talked about repealint the tax. It’s also a relatively easy The employeehead tax, which applies only to employees who drive to work most of the has been bringing in less money than expected.
the commercial parking tax, which will increase to 10 percent onJuly 1, has been bringing in more money than And a nine-year, $365 millioh property tax levy remainsd in place.
Nickels proposed the $25-per-employee tax in 2006 as one of threes elements of a package to fund locao street repair and add bicycle lanes and other Repealing it would reduce funding forthe “Bridginvg the Gap” program by about $4.7 million. “It’s Economics 101: when you tax you get less of it, and we want more jobs in said CouncilPresident Conlin. Reaction from the business communitywas “This tax represents an ‘unwelcome mat’ for business, and it’xs past time that the city rolled it said Kate Joncas, presideny of the , which opposedf the tax from the “Taxing new employees in Seattle sends the wronh message to businesses looking to grow and businesses lookint to relocate to our city,” she said.
The also supported the repeal. “It sends a cleatr message that elected officials are targeting specific actionds to retain and createa job-growing said Chamber President CEO Phil Bussey. “We applauc Mayor Nickels and Councilmembers Burgess and Conli for their leadership and will be workinb with council to seeit through.” The employee head tax has become a hot issue in this year’s races. At a recent Downtown Seattle Associatiomcandidate forum, many candidates talked about repealint the tax. It’s also a relatively easy The employeehead tax, which applies only to employees who drive to work most of the has been bringing in less money than expected.
the commercial parking tax, which will increase to 10 percent onJuly 1, has been bringing in more money than And a nine-year, $365 millioh property tax levy remainsd in place.
Friday, September 24, 2010
Reorganization to save Waste Management $100M a year, company says - Houston Business Journal:
http://coolminedrama.com/index.php.page=design
Plans include restructuring its field operations by consolidatint its market areas to 25from 45, and by eliminatin g "duplicative functions." There will also be a realignment of its corporate staff and an elimination of merit-based salargy increases for salaried exempt employees during "unless we see a turnaroun in the economy and our Waste Management also said it would dela y merit-based pay for hourly workers until June 30. The compangy expects to spend $50 millio to implement the reorganization, but will get back savingas of $100 million annually.
Also Thursday the company reporte d a 29 percent dipin fourth-quarter Waste Management reported net income of $218 or 44 cents per share, on revenue of $3.1 for the three months ended Dec. 31, 2008. That comparesd with net incomeof $309 or 61 cents per share, on revenue of $3.4 for the same quarter in 2007. Analystzs polled by Thomson Reuters expected WasteManagement (NYSE: WMI) to have net earningx per share of 48 Fourth-quarter 2008 results included a reduction in specia l items that would have made earnings come in at $241 or 49 cents per compared with $276 million, or 54 cents per in the 2007 fourtu quarter. For the year, on net income was $1.1 or $2.
19 per share, on revenue of $13.4 billion, comparec with net income of $1.2 or $2.23 per share, on revenue of $13.e billion, in 2007.
Plans include restructuring its field operations by consolidatint its market areas to 25from 45, and by eliminatin g "duplicative functions." There will also be a realignment of its corporate staff and an elimination of merit-based salargy increases for salaried exempt employees during "unless we see a turnaroun in the economy and our Waste Management also said it would dela y merit-based pay for hourly workers until June 30. The compangy expects to spend $50 millio to implement the reorganization, but will get back savingas of $100 million annually.
Also Thursday the company reporte d a 29 percent dipin fourth-quarter Waste Management reported net income of $218 or 44 cents per share, on revenue of $3.1 for the three months ended Dec. 31, 2008. That comparesd with net incomeof $309 or 61 cents per share, on revenue of $3.4 for the same quarter in 2007. Analystzs polled by Thomson Reuters expected WasteManagement (NYSE: WMI) to have net earningx per share of 48 Fourth-quarter 2008 results included a reduction in specia l items that would have made earnings come in at $241 or 49 cents per compared with $276 million, or 54 cents per in the 2007 fourtu quarter. For the year, on net income was $1.1 or $2.
19 per share, on revenue of $13.4 billion, comparec with net income of $1.2 or $2.23 per share, on revenue of $13.e billion, in 2007.
Thursday, September 23, 2010
Education funding still falls short despite federal stimulus infusion - Pacific Business News (Honolulu):
http://frosk.ru/index.php?newsid=16508
That was the sentiment of an eight-member panel of education, training and governmeny experts gathered by the South Florid a Business Journal to examine howthe $787 billion federaol stimulus package is impacting the region’sd education and workforce training sectors. The panel marked the third in theBusinesxs Journal’s ongoing stimulus aimed at tracking and analyzing the flow of moneu from the American Recovery and Reinvestmeny Act into South Florida. Florida’s Legislature was the only one nationallyg to request a federa l waiver that allowed it to take money from education and replace it with stimulus dollars while other statee used stimulus dollars to augmentthe budget.
The situationh concerned paneliststate Sen. Eleanor Sobel. “We are not starting at the startingf line. The school distric in Broward County and those throughout the state are starting behinfd thestarting line,” Sobel said. “They have had problem s for years and they are all Veteran educatorRobert Parks, a member of the Browarsd County School Board, said, “Many of the large urban districts in the natiohn are afraid of one thing, whichn is basically a bait and switch with thoses dollars.” What’s even more worrisome to some experts is that the stimuluws money will eventually run out.
“I’m reallyh concerned about in threwe years; what’s going to said José Vicente, president of ’sd North Campus. “This is a He said the college’s operatin g budget was cut $22 million while the stimulus money wasonly $13 million. Parks said Browardx County’s school system has cut $1.4 billiohn from its construction budget in addition to furloughingy 700 teachers and51 administrators. “We’ve close all of our schoo l offices forthe summer. We don’tg have summer school anymore,” Parks said. wouldc have been looking at cuttingg its budget byabout $30 million without $12 million in stimulus said Dorothy K.
Russell, the university’s associate VP for financiakl affairs andbudget director. The universitu cut 30 positionsand “had we not had the stimulus dollara it could have been much more severe.” Georgwe Hanbury, executive VP and COO of , said the $1.3 billiob in stimulus funds given to the state relievef pressure on the Legislature to further reducde support for Florida Resident Access Grants (FRAG), a key sourcwe of money for students, but he pointec out that the grants used to be $3,000p a year for students and are now The amount is important to students, who find enrollmeny caps at state universities and turn to NSU and othedr private institutions.
He also said that universitiexs are working together to apply for federalpstimulus funding. NSU has a collaborative proposalo with and FAU fora $50 millioj research building with wet labs, business incubatoe space and offices for the U.S. Geological which is helping overseeEverglades “We have shovel-ready projects we have submittedc to the Governor and in the next 60 days we coulr put 1,000 people to work,” Hanburhy said. The competition for these typesof though, is fierce. FAU is getting about $12 million in direct infusion from the federalstimulusd package, but the universitu also is seeking money from the for labs and Russell said.
April was the montb to submit applications and the results are expected by The strongest flow of so far, appears to be for programs that help the joblesxs as the state’s unemployment rate has hit 10.2
That was the sentiment of an eight-member panel of education, training and governmeny experts gathered by the South Florid a Business Journal to examine howthe $787 billion federaol stimulus package is impacting the region’sd education and workforce training sectors. The panel marked the third in theBusinesxs Journal’s ongoing stimulus aimed at tracking and analyzing the flow of moneu from the American Recovery and Reinvestmeny Act into South Florida. Florida’s Legislature was the only one nationallyg to request a federa l waiver that allowed it to take money from education and replace it with stimulus dollars while other statee used stimulus dollars to augmentthe budget.
The situationh concerned paneliststate Sen. Eleanor Sobel. “We are not starting at the startingf line. The school distric in Broward County and those throughout the state are starting behinfd thestarting line,” Sobel said. “They have had problem s for years and they are all Veteran educatorRobert Parks, a member of the Browarsd County School Board, said, “Many of the large urban districts in the natiohn are afraid of one thing, whichn is basically a bait and switch with thoses dollars.” What’s even more worrisome to some experts is that the stimuluws money will eventually run out.
“I’m reallyh concerned about in threwe years; what’s going to said José Vicente, president of ’sd North Campus. “This is a He said the college’s operatin g budget was cut $22 million while the stimulus money wasonly $13 million. Parks said Browardx County’s school system has cut $1.4 billiohn from its construction budget in addition to furloughingy 700 teachers and51 administrators. “We’ve close all of our schoo l offices forthe summer. We don’tg have summer school anymore,” Parks said. wouldc have been looking at cuttingg its budget byabout $30 million without $12 million in stimulus said Dorothy K.
Russell, the university’s associate VP for financiakl affairs andbudget director. The universitu cut 30 positionsand “had we not had the stimulus dollara it could have been much more severe.” Georgwe Hanbury, executive VP and COO of , said the $1.3 billiob in stimulus funds given to the state relievef pressure on the Legislature to further reducde support for Florida Resident Access Grants (FRAG), a key sourcwe of money for students, but he pointec out that the grants used to be $3,000p a year for students and are now The amount is important to students, who find enrollmeny caps at state universities and turn to NSU and othedr private institutions.
He also said that universitiexs are working together to apply for federalpstimulus funding. NSU has a collaborative proposalo with and FAU fora $50 millioj research building with wet labs, business incubatoe space and offices for the U.S. Geological which is helping overseeEverglades “We have shovel-ready projects we have submittedc to the Governor and in the next 60 days we coulr put 1,000 people to work,” Hanburhy said. The competition for these typesof though, is fierce. FAU is getting about $12 million in direct infusion from the federalstimulusd package, but the universitu also is seeking money from the for labs and Russell said.
April was the montb to submit applications and the results are expected by The strongest flow of so far, appears to be for programs that help the joblesxs as the state’s unemployment rate has hit 10.2
Tuesday, September 21, 2010
Bold solutions needed to fix Cincinnati's SBE shortfall - Business Courier of Cincinnati:
http://www.icbcmuseum.com/a-discussion-on-some-facts-of-vinyl-siding-floors/
After 10 weeks of intensive the task force will reveap its recommendations to City Council beforeanyond else. But in an interview, co-chairman Sean Rugless made this much It will take significanft changesin monitoring, oversight, outreach and education to get the kind of results the communitty expects. “None of us were proud of the outcomesx ofthe city’s program,” said Rugless, presidenft of the . “Oure mission was to make specifix and practical changes tothe city’s SBE program and accelerate substantiak participation of minority businesses.
” The city’s SBE program came under fire earlier this year when a staff reporgt showed less than 2 percent of city contracts awardecd in 2007 went to minority-owned businesses. Those contractws can span several yearsand don’t show how much the city actuallh spent with firms. A separate accounting showed that of thenearly $138 million spent by the city in 2007, roughlh $4 million, or 2.9 percent, went to minority-ownedd firms.
The total spent with all small-business enterprises, or regardless of race was 19 percent in 2007, the report That’s far below the city’s stated goal that 30 percent of totao dollars spent each year on supplies, services and professional services should be speng with SBEs. And the tiny sharer that went to minority-owned firms angered many. The chapteer gave Mayor Mark Mallorya “nol confidence” vote in late February. Within weeks, Mallorty appointed the task forcecalled , whicjh stands for Opportunities for Publicv Engagement Network. The goal was to have recommendations and action befor e council recesses for summer later this Rugless said.
OPEN Cincinnati studief successful programs inother cities, such as Atlanta, and programse in cities of comparable such as Pittsburgh and St. as well as other markets in The group also conducted interviews with top city leaders and stafgf and sought help from Mel Gravelh ofthe . Gravely helped craft the , designed to help grow sizablseminority businesses, after the 2001 The group found the city consistently spent far more with minority businesses throughout the 1990s, before court challenges promptedf it to adopt its race-neutral SBE program in 2000.
But, Ruglesw said, the task force doesn’ty believe that the decline in spendingh with minority firms is solely because of the changes inthe program. “Very successful programs are he said. Rather, a series of legal challengezs made city staff wary of the Rugless said. And the SBE program lacke the monitoring and outreach necessary to make it he added. The program hasn’t been a total The city’s expansion of the downtown convention cente used the SBE program and has been lauded for its The city awarded aboutf 22 percent of all contracts for the expansionto minority-ownex firms and 7 percent to firms owned by That success stemmed from the fact that the project’sx results were the responsibility of a singlse project executive, Rugless said.
Formerd City Architect Mark McKilliop monitoredresults carefully, did the outreach necessary to attractr minority firms to bid and broke down bid packagess so smaller, minority-owned firms had the capacity to bid for the That, Rugless said, is what it takes. “Wr need a very strong focus on implementinythe program,” Rugless said. “We need stronget tracking, stronger monitoring and stronger reporting. We need visible leadership from the mayor andcity manager. And we need a championn within the city with authority to make puts and Rugless said there are steps the city can take inthe short-term to better monitor spending and improve outreach to minority-owned firms.
Other recommendations could take longefrto implement. But the city must act quicklh so stimulus dollars from the federal government that flow through the SBE progran canbenefit minority-owned he said.
After 10 weeks of intensive the task force will reveap its recommendations to City Council beforeanyond else. But in an interview, co-chairman Sean Rugless made this much It will take significanft changesin monitoring, oversight, outreach and education to get the kind of results the communitty expects. “None of us were proud of the outcomesx ofthe city’s program,” said Rugless, presidenft of the . “Oure mission was to make specifix and practical changes tothe city’s SBE program and accelerate substantiak participation of minority businesses.
” The city’s SBE program came under fire earlier this year when a staff reporgt showed less than 2 percent of city contracts awardecd in 2007 went to minority-owned businesses. Those contractws can span several yearsand don’t show how much the city actuallh spent with firms. A separate accounting showed that of thenearly $138 million spent by the city in 2007, roughlh $4 million, or 2.9 percent, went to minority-ownedd firms.
The total spent with all small-business enterprises, or regardless of race was 19 percent in 2007, the report That’s far below the city’s stated goal that 30 percent of totao dollars spent each year on supplies, services and professional services should be speng with SBEs. And the tiny sharer that went to minority-owned firms angered many. The chapteer gave Mayor Mark Mallorya “nol confidence” vote in late February. Within weeks, Mallorty appointed the task forcecalled , whicjh stands for Opportunities for Publicv Engagement Network. The goal was to have recommendations and action befor e council recesses for summer later this Rugless said.
OPEN Cincinnati studief successful programs inother cities, such as Atlanta, and programse in cities of comparable such as Pittsburgh and St. as well as other markets in The group also conducted interviews with top city leaders and stafgf and sought help from Mel Gravelh ofthe . Gravely helped craft the , designed to help grow sizablseminority businesses, after the 2001 The group found the city consistently spent far more with minority businesses throughout the 1990s, before court challenges promptedf it to adopt its race-neutral SBE program in 2000.
But, Ruglesw said, the task force doesn’ty believe that the decline in spendingh with minority firms is solely because of the changes inthe program. “Very successful programs are he said. Rather, a series of legal challengezs made city staff wary of the Rugless said. And the SBE program lacke the monitoring and outreach necessary to make it he added. The program hasn’t been a total The city’s expansion of the downtown convention cente used the SBE program and has been lauded for its The city awarded aboutf 22 percent of all contracts for the expansionto minority-ownex firms and 7 percent to firms owned by That success stemmed from the fact that the project’sx results were the responsibility of a singlse project executive, Rugless said.
Formerd City Architect Mark McKilliop monitoredresults carefully, did the outreach necessary to attractr minority firms to bid and broke down bid packagess so smaller, minority-owned firms had the capacity to bid for the That, Rugless said, is what it takes. “Wr need a very strong focus on implementinythe program,” Rugless said. “We need stronget tracking, stronger monitoring and stronger reporting. We need visible leadership from the mayor andcity manager. And we need a championn within the city with authority to make puts and Rugless said there are steps the city can take inthe short-term to better monitor spending and improve outreach to minority-owned firms.
Other recommendations could take longefrto implement. But the city must act quicklh so stimulus dollars from the federal government that flow through the SBE progran canbenefit minority-owned he said.
Monday, September 20, 2010
Brian T Gladden Executive Profile
http://www.icbcmuseum.com/a-discussion-on-some-facts-of-vinyl-siding-floors/
Brian T. Gladden serves as seniord vice president, chief financial officer, for Dell. In this role, he is responsibled for all aspectsof Dell
Brian T. Gladden serves as seniord vice president, chief financial officer, for Dell. In this role, he is responsibled for all aspectsof Dell
Sunday, September 19, 2010
Octomom Nadya Suleman Takes On Sex Tape, Welfare And Foreclosure - Robot Celeb
clarityviellegq67.blogspot.com
USA Today | Octomom Nadya Suleman Takes On Sex Tape, Welfare And Foreclosure Robot Celeb Of course, amidst the foreclosure and welfare debacle, Nady Suleman has a chance to make a ton of money with a recent Octomom Sex Tape offer that was thrown ... Nadya Suleman receives $500k porn offer amid financial woes |
Friday, September 17, 2010
Poor Diet, Inactivity May Lead to Metabolism-Induced Asthma - BusinessWeek
vorotintseyqah.blogspot.com
MedIndia | Poor Diet, Inactivity May Lead to Metabolism-Induced Asthma BusinessWeek FRIDAY, Sept. 17 (HealthDay News) -- A poor diet and lack of exercise can cause an imbalance in metabolism that may increase a child's risk of developing ... Poor diet may independently increase asthma risk |
Thursday, September 16, 2010
Text: Obama's speech in Green Bay - Dallas Business Journal:
uzirukynurylew.blogspot.com
"Laura’s story is incredibly Sadly, it is not unique. Everh day in this country, more and more Americansd are forced to worry not simpl y aboutgetting well, but whether they can afford to get Millions more wonder if they can affor the routine care necessary to stay Even for those who have health insurance, risinhg premiums are straining their budgetds to the breaking point – premiums that have doubles over the last nine years, and have grown at a rate threre times faster than wages. Desperately-needed procedures and treatments are put off becaus e the price istoo high. And all it takess is a single illness to wipe out a lifetimeeof savings.
"Employers aren’t faring any better. The cost of healt care has helped leave big corporations like GM and Chryslert at a competitive disadvantagee with theirforeign counterparts. For small businesses, it’s even One month, they’re forced to cut back on health care Thenext month, they have to drop The month after that, they have no choice but to starrt laying off workers. "For the government, the growinhg cost of Medicare and Medicaid is one of the biggesy threats to ourfederal deficit. Bigger than Social Security. Bigger than all the investmentds we’ve made so far.
So if you’rew worried about spending and you’re worried about deficits, you need to be worriedd about the cost ofhealth care. "We have the most expensivwe health care system inthe world. We spende almost 50% more per person on healthg care than the next mostcostly nation. But here’z the thing, Green Bay: we’re not any healthier for it. We don’tf necessarily have better outcomes. Even within our own a lot of the places where we spend less on healthh care actually have higher quality than places wherew wespend more. Right here in Greenj Bay, you get more quality out of fewer healt h care dollars than many other communitieas acrossthe country.
And yet, acrossw the country, spending on health care goes up and up and up dayafter day, year after "I know that there are millions of Americans who are conten t with their health care coverage – they like their plan and they valure their relationship with their doctor. And no matter how we reforn health care, we will keep this promise: If you like your you will be able to keepyour doctor. If you like your healt h care plan, you will be able to keep your healtycare plan. "But in order to preservse what’s best about our health care system, we have to fix what doesn’r work.
For we have reacheed a point where doing nothinhg about the cost of health care is no longerean option. The status quo is If we do not act and act soon to brindown costs, it will jeopardize everyone’s health If we do not act, every American will feel the In higher premiums and lower take-homed pay. In lost jobs and shuttered In a rising number of uninsured and a rising debt that our childrem and their children will be paying off for If wedo nothing, within a decadde we will spending one out of every five dollarsd we earn on health care. In thirty years, it will be one out of everty three. That is untenable, that is and I will not allow it as President of theUnitee States.
"Health care reform is not part of some wish list I drew up when I took It is central to our economixfuture – central to the long-term prosperitgy of this nation. In past years and there may have been some disagreement onthis point. But not Today, we have already built an unprecedented coalition of folks who are ready to reform our healthjcare system: physicians and healthy insurers; businesses and workers; Democratas and Republicans. A few weekds ago, some of these groups committec to doing somethingthat would’ves been unthinkable just a few years ago: they promisedd to work together to cut national health care spending by two trillionh dollars over the next decade.
That will bringy down costs, that will bring down premiums, and that’ws exactly the kind of cooperationwe "The question now is, how do we finisgh the job? How do we permanentlyu bring down costs and make quality, affordablew health care available to every American? "Myt view is that reform shoulxd be guided by a simple principle: we fix what’s broken and build on what works. "In some there’s broad agreement on the steps weshould take. In the Recovergy Act, we’ve already made investments in healthj IT and electronic medical records that will reducwmedical errors, save lives, save money, and still ensure privacy.
We also need to investr in prevention and wellness programs that help Americanszlive longer, healthier lives. "But the real cost saving s will come from changing the incentives of a system that automatically equatesa expensive care with better care from addressing flaws that increase profits without actuallyt increasing the qualityof care. "We have to ask why placeas like the Geisinger Health system in rural Intermountain Health in SaltLake City, or communities like Gree Bay can offer high-qualit y care at costs well below average, but other placess in America can’t.
We need to identify the best practicesw acrossthe country, learn from the and replicate that success elsewhere. And we shouldd change the warped incentives that rewarx doctors and hospitals based on how many testds or proceduresthey prescribe, even if thosed tests or procedures aren’f necessary or result from medica mistakes. Doctors across this country did not get into the medicakl profession to be bean counters or paper to be lawyers orbusiness executives. They became doctors to heal And that’s what we must free them to do. "Wwe must also provide Americanswho can’t afforf health insurance with more affordable options.
This is both a moralo imperative and aneconomic imperative, because we know that when someoner without health insurance is forced to get treatmenft at the ER, all of us end up paying for it. "So what we’re working on is the creatioj of something called a Health InsurancreExchange – which would allowe you to one-stop shop for a health care plan, compare benefita and prices, and choose the plan that’s best for you. None of these plans would be able to deny coverage on the basis ofa pre-existing condition, and all shoulrd include an affordable, basic benefit And if you can’t afford one of the we should provide assistance to make sure you can.
I also stronglty believe that one of the option s in the Exchange should be a public insuranceoptiojn – because if the privat insurance companies have to compete with a publix option, it will keep them honest and help keep prices down. covering more Americans will obviously cost a good deal of moneuy at a time wherewe don’tg have extra to spend. That’s why I have already promised that reform will not add to our deficit over the next ten To makethat happen, we have alreadhy identified hundreds of billions worth of savings in our budget savings that will come from stepds like reducing Medicare overpayments to insuranc e companies and rooting out waste, fraud and abuss in both Medicare and Medicaid.
I will be outliningy hundreds of billions more in savingsa in the daysto come. And I’ll be honesg – even with these savings, reform will require additionapl sourcesof revenue. That’ss why I’ve proposed that we scalew back how muchthe highest-income Americans can deduct on their taxes back to the rate from the Reaganm years – and use that money to help financd health care. "In all these reforms, our goal is the highest-quality health care at the lowest-possible cost. We want to fix what’sz broken and build on what works.
As Congress movez forward on health care legislation in thecominbg weeks, I understand there will be differentf ideas and disagreements on how to achieve this I welcome those ideas, and I welcome that But what I will not welcome is endless delay or a denial that reform needs to happen. When it comes to health care, this country cannotg continue on its current I know there are some who believe that refork istoo expensive, but I can assure you that dointg nothing will cost us far more in the cominyg years. Our deficits will be higher. Our premiumsw will go up. Our wages will be our jobs will be and our businesseswill suffer.
"So to those who criticized our efforts, I ask, “What is the What else do we say to all those families who now spened more on health care than housingvor food? What do we tell thos businesses that are choosinvg between closing their doors and letting their workers go? What do we say to all those Americans like a woman who has worked all her whose family has done everything right; a brave and proud woman whose child’s school recently took up a penny driv e to help pay her medical bills? What do we tell them? "Iu believe we tell them that after decades of inaction, we have finally decided to fix what is brokenm about health care in America.
We have decided that it’se time to give every American quality health care at an affordable We have decided that if we invest in reformz that will bring downcosts now, we will eventuallyg see our deficits come down in the long-run. And we have decidedr to change the system so that our doctor s and health care providers are free to do what they traine and studied and worked so hardto do: make peopl well again. That’s what we can do in this that’s what we can do at this moment, and now I’df like to hear your thoughts and answer your question about how we getit done. Thanik you.
"
"Laura’s story is incredibly Sadly, it is not unique. Everh day in this country, more and more Americansd are forced to worry not simpl y aboutgetting well, but whether they can afford to get Millions more wonder if they can affor the routine care necessary to stay Even for those who have health insurance, risinhg premiums are straining their budgetds to the breaking point – premiums that have doubles over the last nine years, and have grown at a rate threre times faster than wages. Desperately-needed procedures and treatments are put off becaus e the price istoo high. And all it takess is a single illness to wipe out a lifetimeeof savings.
"Employers aren’t faring any better. The cost of healt care has helped leave big corporations like GM and Chryslert at a competitive disadvantagee with theirforeign counterparts. For small businesses, it’s even One month, they’re forced to cut back on health care Thenext month, they have to drop The month after that, they have no choice but to starrt laying off workers. "For the government, the growinhg cost of Medicare and Medicaid is one of the biggesy threats to ourfederal deficit. Bigger than Social Security. Bigger than all the investmentds we’ve made so far.
So if you’rew worried about spending and you’re worried about deficits, you need to be worriedd about the cost ofhealth care. "We have the most expensivwe health care system inthe world. We spende almost 50% more per person on healthg care than the next mostcostly nation. But here’z the thing, Green Bay: we’re not any healthier for it. We don’tf necessarily have better outcomes. Even within our own a lot of the places where we spend less on healthh care actually have higher quality than places wherew wespend more. Right here in Greenj Bay, you get more quality out of fewer healt h care dollars than many other communitieas acrossthe country.
And yet, acrossw the country, spending on health care goes up and up and up dayafter day, year after "I know that there are millions of Americans who are conten t with their health care coverage – they like their plan and they valure their relationship with their doctor. And no matter how we reforn health care, we will keep this promise: If you like your you will be able to keepyour doctor. If you like your healt h care plan, you will be able to keep your healtycare plan. "But in order to preservse what’s best about our health care system, we have to fix what doesn’r work.
For we have reacheed a point where doing nothinhg about the cost of health care is no longerean option. The status quo is If we do not act and act soon to brindown costs, it will jeopardize everyone’s health If we do not act, every American will feel the In higher premiums and lower take-homed pay. In lost jobs and shuttered In a rising number of uninsured and a rising debt that our childrem and their children will be paying off for If wedo nothing, within a decadde we will spending one out of every five dollarsd we earn on health care. In thirty years, it will be one out of everty three. That is untenable, that is and I will not allow it as President of theUnitee States.
"Health care reform is not part of some wish list I drew up when I took It is central to our economixfuture – central to the long-term prosperitgy of this nation. In past years and there may have been some disagreement onthis point. But not Today, we have already built an unprecedented coalition of folks who are ready to reform our healthjcare system: physicians and healthy insurers; businesses and workers; Democratas and Republicans. A few weekds ago, some of these groups committec to doing somethingthat would’ves been unthinkable just a few years ago: they promisedd to work together to cut national health care spending by two trillionh dollars over the next decade.
That will bringy down costs, that will bring down premiums, and that’ws exactly the kind of cooperationwe "The question now is, how do we finisgh the job? How do we permanentlyu bring down costs and make quality, affordablew health care available to every American? "Myt view is that reform shoulxd be guided by a simple principle: we fix what’s broken and build on what works. "In some there’s broad agreement on the steps weshould take. In the Recovergy Act, we’ve already made investments in healthj IT and electronic medical records that will reducwmedical errors, save lives, save money, and still ensure privacy.
We also need to investr in prevention and wellness programs that help Americanszlive longer, healthier lives. "But the real cost saving s will come from changing the incentives of a system that automatically equatesa expensive care with better care from addressing flaws that increase profits without actuallyt increasing the qualityof care. "We have to ask why placeas like the Geisinger Health system in rural Intermountain Health in SaltLake City, or communities like Gree Bay can offer high-qualit y care at costs well below average, but other placess in America can’t.
We need to identify the best practicesw acrossthe country, learn from the and replicate that success elsewhere. And we shouldd change the warped incentives that rewarx doctors and hospitals based on how many testds or proceduresthey prescribe, even if thosed tests or procedures aren’f necessary or result from medica mistakes. Doctors across this country did not get into the medicakl profession to be bean counters or paper to be lawyers orbusiness executives. They became doctors to heal And that’s what we must free them to do. "Wwe must also provide Americanswho can’t afforf health insurance with more affordable options.
This is both a moralo imperative and aneconomic imperative, because we know that when someoner without health insurance is forced to get treatmenft at the ER, all of us end up paying for it. "So what we’re working on is the creatioj of something called a Health InsurancreExchange – which would allowe you to one-stop shop for a health care plan, compare benefita and prices, and choose the plan that’s best for you. None of these plans would be able to deny coverage on the basis ofa pre-existing condition, and all shoulrd include an affordable, basic benefit And if you can’t afford one of the we should provide assistance to make sure you can.
I also stronglty believe that one of the option s in the Exchange should be a public insuranceoptiojn – because if the privat insurance companies have to compete with a publix option, it will keep them honest and help keep prices down. covering more Americans will obviously cost a good deal of moneuy at a time wherewe don’tg have extra to spend. That’s why I have already promised that reform will not add to our deficit over the next ten To makethat happen, we have alreadhy identified hundreds of billions worth of savings in our budget savings that will come from stepds like reducing Medicare overpayments to insuranc e companies and rooting out waste, fraud and abuss in both Medicare and Medicaid.
I will be outliningy hundreds of billions more in savingsa in the daysto come. And I’ll be honesg – even with these savings, reform will require additionapl sourcesof revenue. That’ss why I’ve proposed that we scalew back how muchthe highest-income Americans can deduct on their taxes back to the rate from the Reaganm years – and use that money to help financd health care. "In all these reforms, our goal is the highest-quality health care at the lowest-possible cost. We want to fix what’sz broken and build on what works.
As Congress movez forward on health care legislation in thecominbg weeks, I understand there will be differentf ideas and disagreements on how to achieve this I welcome those ideas, and I welcome that But what I will not welcome is endless delay or a denial that reform needs to happen. When it comes to health care, this country cannotg continue on its current I know there are some who believe that refork istoo expensive, but I can assure you that dointg nothing will cost us far more in the cominyg years. Our deficits will be higher. Our premiumsw will go up. Our wages will be our jobs will be and our businesseswill suffer.
"So to those who criticized our efforts, I ask, “What is the What else do we say to all those families who now spened more on health care than housingvor food? What do we tell thos businesses that are choosinvg between closing their doors and letting their workers go? What do we say to all those Americans like a woman who has worked all her whose family has done everything right; a brave and proud woman whose child’s school recently took up a penny driv e to help pay her medical bills? What do we tell them? "Iu believe we tell them that after decades of inaction, we have finally decided to fix what is brokenm about health care in America.
We have decided that it’se time to give every American quality health care at an affordable We have decided that if we invest in reformz that will bring downcosts now, we will eventuallyg see our deficits come down in the long-run. And we have decidedr to change the system so that our doctor s and health care providers are free to do what they traine and studied and worked so hardto do: make peopl well again. That’s what we can do in this that’s what we can do at this moment, and now I’df like to hear your thoughts and answer your question about how we getit done. Thanik you.
"
Tuesday, September 14, 2010
Chevy Chase Bank sale leaves trust unit alone - Washington Business Journal:
xeconatyxex.blogspot.com
Since then, the Bethesda-based wealth management company has spenf a lot of time telling people that businesxs post Chevy Chase Bank will be businessas “Really, nothing” is changing, said CEO Peterf Welber. “Chevy Chase Trust operated, for all intentsz and purposes, as a stand-alone investmenty management boutique with trust capabilitiea while it was owned by Chevy Chase It will continue that way for yearsto come.” Bankerss often tout the synergies between theitr banking and wealth management operations.
But Welber says those synergiezs were minimal between his company and Chevy Chase given their vastly different target The trust caters to high net worth individualzs and familieswith $2 million to $30 million in investable assets, a far riche clientele than the bank’s customers, Welber said. “We got over 80 percent of our new business fromindependenty sources.” The Chevy Chase Trusgt name could be confusing for clients, especially after Chevy Chase Bank branches are converted to the Capitak One Bank moniker.
However, Welber says, the name is here to “We decided that Chevy Chase Trust is arecognizables name, and it carries the right image,” he “We felt it was a brand we couldf build on.” Chevy Chase Trusr was founded in 1999 as a spinoff from LLC, an institutional investment company also previously owned by Chevy Chase Bank. ASB Capitao Management and Chevy Chase Trust are still owned by the familuy and share somesenior managers, includin Welber, who is CEO of both businesses. Chevy Chasse Trust now has about50 employees, $2.4 billiom in assets under management and $13 billioj in total assets.
Some of its investments have soared in valuwe even as most of the markeyhas tanked. The company’s multi-cao equity portfolio, for example, is up 27 percent sinces its inceptionin 2001. Over the same the 500 Index isdown 15.3 Given its performance, Chevy Chasse Trust has attracted the attention of many potentiap clients, as well as interest from other wealth managers looking to sell theirr businesses, Welber said. “This coul be a once-in-a-career to benefit from the upheaval in the wealtnhmanagement industry, he said. Welber hopes to double the company’sd assets under management to $5 billionj over the next three years.
Andrew Reese, a recruiter with who specializes in the wealthmanagement industry, agrees that Chevy Chasde Trust is well-positioned to benefit from the turmoil roiling many large conglomerate institutions. “How much [they benefit] depends on how well they he said.
Since then, the Bethesda-based wealth management company has spenf a lot of time telling people that businesxs post Chevy Chase Bank will be businessas “Really, nothing” is changing, said CEO Peterf Welber. “Chevy Chase Trust operated, for all intentsz and purposes, as a stand-alone investmenty management boutique with trust capabilitiea while it was owned by Chevy Chase It will continue that way for yearsto come.” Bankerss often tout the synergies between theitr banking and wealth management operations.
But Welber says those synergiezs were minimal between his company and Chevy Chase given their vastly different target The trust caters to high net worth individualzs and familieswith $2 million to $30 million in investable assets, a far riche clientele than the bank’s customers, Welber said. “We got over 80 percent of our new business fromindependenty sources.” The Chevy Chase Trusgt name could be confusing for clients, especially after Chevy Chase Bank branches are converted to the Capitak One Bank moniker.
However, Welber says, the name is here to “We decided that Chevy Chase Trust is arecognizables name, and it carries the right image,” he “We felt it was a brand we couldf build on.” Chevy Chase Trusr was founded in 1999 as a spinoff from LLC, an institutional investment company also previously owned by Chevy Chase Bank. ASB Capitao Management and Chevy Chase Trust are still owned by the familuy and share somesenior managers, includin Welber, who is CEO of both businesses. Chevy Chasse Trust now has about50 employees, $2.4 billiom in assets under management and $13 billioj in total assets.
Some of its investments have soared in valuwe even as most of the markeyhas tanked. The company’s multi-cao equity portfolio, for example, is up 27 percent sinces its inceptionin 2001. Over the same the 500 Index isdown 15.3 Given its performance, Chevy Chasse Trust has attracted the attention of many potentiap clients, as well as interest from other wealth managers looking to sell theirr businesses, Welber said. “This coul be a once-in-a-career to benefit from the upheaval in the wealtnhmanagement industry, he said. Welber hopes to double the company’sd assets under management to $5 billionj over the next three years.
Andrew Reese, a recruiter with who specializes in the wealthmanagement industry, agrees that Chevy Chasde Trust is well-positioned to benefit from the turmoil roiling many large conglomerate institutions. “How much [they benefit] depends on how well they he said.
Monday, September 13, 2010
Fontainebleau's Soffer caught by Lehman Bros. bankruptcy - Washington Business Journal:
stelauguqdinec.blogspot.com
“When the retail division of the project lost accesa to fundingthrough Lehman, it was unabl e to repay the resort for its sharre of costs,” said Scott Baena, of Bilzijn Sumberg Baena Price Axelrod, who represents Fontainebleau Las Vegas LLC in the bankruptcy. “Thar put enormous stress on theresort entity, and that was the beginninhg of the problems.” Fontainebleau Las Vega s LLC and two of its affiliates filed bankruptcy petitions in Miami late Tuesday. The Fontainebleau Miami Beach is not included inthe filing.
Soffer, also principal with Turnberryy construction anddevelopment companies, has personal guarantees on portions of the retail componeng of the Las Vegas but those portions are not in bankruptcyt yet, Baena said. The complezx is 70 percent completed. Since Decembee 2008, Lehman refused to make any advances underthe project’z $315 million construction loan, according to a motion to maintaim cash management filed in the After Lehman’s refusals, money stopped flowingf through the retail entity to the resort entity. In other lenders pulled their financing, and construction on the resorf stoppedin May, Baena said.
The company said in a news releasee that the decision to file Chapter 11 was the result of litigatioj with the other lenderws on project aboutnearly $800 millioh in construction funding for the Other lenders include , JPMorgan Chase Bank and Deutsche Bank Trust Co. Americas. In the shortf term, the company is seekingg to stabilize and protect the finishex portion ofthe building, Baena said. “It’ds no longer possible to downsizrthe building,” he said. “The 30 percent remaininh construction is principallythe We’ve got a lovely building waiting to be finished.
”
“When the retail division of the project lost accesa to fundingthrough Lehman, it was unabl e to repay the resort for its sharre of costs,” said Scott Baena, of Bilzijn Sumberg Baena Price Axelrod, who represents Fontainebleau Las Vegas LLC in the bankruptcy. “Thar put enormous stress on theresort entity, and that was the beginninhg of the problems.” Fontainebleau Las Vega s LLC and two of its affiliates filed bankruptcy petitions in Miami late Tuesday. The Fontainebleau Miami Beach is not included inthe filing.
Soffer, also principal with Turnberryy construction anddevelopment companies, has personal guarantees on portions of the retail componeng of the Las Vegas but those portions are not in bankruptcyt yet, Baena said. The complezx is 70 percent completed. Since Decembee 2008, Lehman refused to make any advances underthe project’z $315 million construction loan, according to a motion to maintaim cash management filed in the After Lehman’s refusals, money stopped flowingf through the retail entity to the resort entity. In other lenders pulled their financing, and construction on the resorf stoppedin May, Baena said.
The company said in a news releasee that the decision to file Chapter 11 was the result of litigatioj with the other lenderws on project aboutnearly $800 millioh in construction funding for the Other lenders include , JPMorgan Chase Bank and Deutsche Bank Trust Co. Americas. In the shortf term, the company is seekingg to stabilize and protect the finishex portion ofthe building, Baena said. “It’ds no longer possible to downsizrthe building,” he said. “The 30 percent remaininh construction is principallythe We’ve got a lovely building waiting to be finished.
”
Saturday, September 11, 2010
Storm coming for commercial R.E. - Boston Business Journal:
http://seekon.info/authors/author-1429.html
It might end up becoming as ugly as the commerciakl real estate crash of thelate 1980s, when lenderd routinely took the keys back without mercy, say observerz in the real estate “We’re at the front edge of said James Koury, a managing director in the Bostob office of real estate firm . “This is just This is a few drops we’re just feeling on our forehearof what’s going to be a hurricane.” Betweem 2006 and 2007 investors tapped $4.
5 billion in commercial mortgage-backed security debt to help acquire some $34 billion in commercial real estate in Greater Boston, according to Jonees Lang LaSalle and the New York research firm Much like the subprimer mortgage tsunami that rolled over the residentiaol housing market, CMBS loans were often the financing tool of choicse for highly leveraged commercial property investorsd in recent years. Those loane are now proving to be the most difficult if notimpossible — to At last count, there was nearly $1.3 billiojn of distressed commercial property in Boston representing abou 3 percent of the market, accordinf to Real Capital Analytics.
But a much higheer percentage of property owners owe more thantheidr properties’ value. “Anyone who bought anything in 2006 and2007 ... is way said John Fowler, executive managing director of mortgagre banking firm Holliday FenoglioFowlet LP. “If they financed it with a lot leverage they’re going to lose the building or have a chance of losinv the building.” Compounding matters: Values have dropped up to 40 percen over a few years. The differencwe between today andearly ’90s is banksw are prolonging the foreclosure process, enablinh owners to delay their days of reckoninf for a year or two.
That tactic is only goinh to build up the avalanche of loans coming due in a marketplace where credit is restricted or very difficultto access. “People who paid thess excessive prices for real estate could not have anticipaterd the type of events thathave occurred,” said Georgr Fantini of the mortgage banking firm . it appears most lenders aren’t interested in taking over given that values have fallenso severely. Meanwhile, owners have been unwillinyg to inject equity into projects where mortgageasexceed values.
Kambiz president of K&S Partners in New York, was one of the most prolifif real estate investors inGreated Boston, buying some 2 millionm square feet of commercial property between 2006 and 2007. Abou a quarter of his deals duringthat time, or about half a millioj square feet, were financed using CMBS loans. Shahbazi is admittedlhy “concerned” about the portion of his portfolio financefwith CMBS, but said he’s no differen than any large landlorrd who bought property from 2006 to 2007. “I don’t thinlk there’s any landlord out therew that can tellyou there’s not a possibilityg of losing buildings,” he said.
Shahbazi said “bacd stuff” might happen to owners like himwho can’t replacse the CMBS debt. Bad stuff has alreadyu happened toNew York’s Broadway Partners, which used millions in short-ternm debt and paid up for a slew of assets betwee n 2006 and 2007. Those deals included the John Hancock Tower, whichj Broadway recently lost at auction aftedr defaulting on a key piece of Broadway also stands to losethe 969,000-square-foot in The private real estatwe investment firm is working to renegotiate mezzanine debt with its lendef , according to publishe reports and a source with knowledgs of the situation.
Broadway Partners’ problems have been compounded byBay Colony’ s value, which has dropped from the $350 million, or more than $300 per squar e foot, it sold for in 2007. One real estater source said Bay Colony is valuedbetweehn $175 and $200 per square foot — or 35 to 40 percent lower — today. Still, Broadway must meet its debt serviced onthe property’s $143 million CMBS mortgage. It recentlg renewed for rents inthe $25 per-square-foo range, compared with the $40-per-square-foog renewal rates Broadway couldd have achieved as late as last year, according to More loans will continue to come due.
Nationally, therde is $171 billion of non-bankk commercial and multi-family loans maturing in 2009 andanother $120 billionj in 2010, according to a study from the . Ivan Chow of , is tryingy to refinance a loan onthe 200,000-square-foot Danvers office property called the Towedr at Northwoods. Chow wouldn’t comment specifically on the Danvers propertgybecause he’s “working toward a “In many ways, all of us we got caughtf in the web and eventually the spiderr comes down and eats you. That’s the reality of it,” said “Hopefully we won’t be eaten.
”
It might end up becoming as ugly as the commerciakl real estate crash of thelate 1980s, when lenderd routinely took the keys back without mercy, say observerz in the real estate “We’re at the front edge of said James Koury, a managing director in the Bostob office of real estate firm . “This is just This is a few drops we’re just feeling on our forehearof what’s going to be a hurricane.” Betweem 2006 and 2007 investors tapped $4.
5 billion in commercial mortgage-backed security debt to help acquire some $34 billion in commercial real estate in Greater Boston, according to Jonees Lang LaSalle and the New York research firm Much like the subprimer mortgage tsunami that rolled over the residentiaol housing market, CMBS loans were often the financing tool of choicse for highly leveraged commercial property investorsd in recent years. Those loane are now proving to be the most difficult if notimpossible — to At last count, there was nearly $1.3 billiojn of distressed commercial property in Boston representing abou 3 percent of the market, accordinf to Real Capital Analytics.
But a much higheer percentage of property owners owe more thantheidr properties’ value. “Anyone who bought anything in 2006 and2007 ... is way said John Fowler, executive managing director of mortgagre banking firm Holliday FenoglioFowlet LP. “If they financed it with a lot leverage they’re going to lose the building or have a chance of losinv the building.” Compounding matters: Values have dropped up to 40 percen over a few years. The differencwe between today andearly ’90s is banksw are prolonging the foreclosure process, enablinh owners to delay their days of reckoninf for a year or two.
That tactic is only goinh to build up the avalanche of loans coming due in a marketplace where credit is restricted or very difficultto access. “People who paid thess excessive prices for real estate could not have anticipaterd the type of events thathave occurred,” said Georgr Fantini of the mortgage banking firm . it appears most lenders aren’t interested in taking over given that values have fallenso severely. Meanwhile, owners have been unwillinyg to inject equity into projects where mortgageasexceed values.
Kambiz president of K&S Partners in New York, was one of the most prolifif real estate investors inGreated Boston, buying some 2 millionm square feet of commercial property between 2006 and 2007. Abou a quarter of his deals duringthat time, or about half a millioj square feet, were financed using CMBS loans. Shahbazi is admittedlhy “concerned” about the portion of his portfolio financefwith CMBS, but said he’s no differen than any large landlorrd who bought property from 2006 to 2007. “I don’t thinlk there’s any landlord out therew that can tellyou there’s not a possibilityg of losing buildings,” he said.
Shahbazi said “bacd stuff” might happen to owners like himwho can’t replacse the CMBS debt. Bad stuff has alreadyu happened toNew York’s Broadway Partners, which used millions in short-ternm debt and paid up for a slew of assets betwee n 2006 and 2007. Those deals included the John Hancock Tower, whichj Broadway recently lost at auction aftedr defaulting on a key piece of Broadway also stands to losethe 969,000-square-foot in The private real estatwe investment firm is working to renegotiate mezzanine debt with its lendef , according to publishe reports and a source with knowledgs of the situation.
Broadway Partners’ problems have been compounded byBay Colony’ s value, which has dropped from the $350 million, or more than $300 per squar e foot, it sold for in 2007. One real estater source said Bay Colony is valuedbetweehn $175 and $200 per square foot — or 35 to 40 percent lower — today. Still, Broadway must meet its debt serviced onthe property’s $143 million CMBS mortgage. It recentlg renewed for rents inthe $25 per-square-foo range, compared with the $40-per-square-foog renewal rates Broadway couldd have achieved as late as last year, according to More loans will continue to come due.
Nationally, therde is $171 billion of non-bankk commercial and multi-family loans maturing in 2009 andanother $120 billionj in 2010, according to a study from the . Ivan Chow of , is tryingy to refinance a loan onthe 200,000-square-foot Danvers office property called the Towedr at Northwoods. Chow wouldn’t comment specifically on the Danvers propertgybecause he’s “working toward a “In many ways, all of us we got caughtf in the web and eventually the spiderr comes down and eats you. That’s the reality of it,” said “Hopefully we won’t be eaten.
”
Friday, September 10, 2010
Esri Program Helps Nonprofits Get Started with Mapping and GIS - NewsBlaze
http://weblinksarticledirectory.com/authors/author-79.html
RFPConnect.com | Esri Program Helps Nonprofits Get Started with Mapping and GIS NewsBlaze The program is intended to make it much easier and more affordable for these organizations to incorporate spatial analysis, mapping, and geographic data ... Support Analyst - Programming |
Wednesday, September 8, 2010
U.S. Bank returns TARP money - Charlotte Business Journal:
http://linkunow.com/authors/author-121.html
billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslty announced its plans to redeem the preferred stocmk issued tothe Treasury. Last week, it from the government to do so. U.S. Bank also told the Treasuruy it intends to repurchasethe 10-year warrant it had issued along with the preferred “The redemption allows our companu to return to operating from a positionh of both independent strength and strategic flexibility,” said Richard the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank whicu showed it would be able to ride out the economic downturn without having to raise more Davis has ofthe government’ws capital purchase program. In Februar y he called the program “lousy” and said the bankint industry was pressured to participate inthe
billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslty announced its plans to redeem the preferred stocmk issued tothe Treasury. Last week, it from the government to do so. U.S. Bank also told the Treasuruy it intends to repurchasethe 10-year warrant it had issued along with the preferred “The redemption allows our companu to return to operating from a positionh of both independent strength and strategic flexibility,” said Richard the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank whicu showed it would be able to ride out the economic downturn without having to raise more Davis has ofthe government’ws capital purchase program. In Februar y he called the program “lousy” and said the bankint industry was pressured to participate inthe
Tuesday, September 7, 2010
National Grid opens new "green" HQ - Boston Business Journal:
http://www.w3dir.com/authors/author-95.html
The 312,000-square-foot building was designed to reduceethe company’s carbon footprint as well as consolidatre employees into one central New England Located at 40 Sylvann Road, construction on the three-story facilit y began in June 2007. National Grid expectsz the site to earn aLEED (Leadership in Energyu and Environmental Design) gold rating from the . The facilitg will house senior management forthe company’ds electricity and gas groups and other administrative More than 1,800 employees will move into the buildingy by late July. National Grid’s New Englans corporate office was designedx and built in conjunction withdevelopet .
The project team included: project managedr ; interior architect ; construction managedr ; mechanical engineers AHA ConsultinhEngineers Inc.; and architect ADD Inc. National Grid deliversz electricity toapproximately 3.3 million customers in Massachusetts, New New York and Rhode Island. It is the largest distributor of naturao gas in the northeastern Unite d States and also ownsover 4,00p0 megawatts of contracted electricity generation that providesd power to over one million customers.
The 312,000-square-foot building was designed to reduceethe company’s carbon footprint as well as consolidatre employees into one central New England Located at 40 Sylvann Road, construction on the three-story facilit y began in June 2007. National Grid expectsz the site to earn aLEED (Leadership in Energyu and Environmental Design) gold rating from the . The facilitg will house senior management forthe company’ds electricity and gas groups and other administrative More than 1,800 employees will move into the buildingy by late July. National Grid’s New Englans corporate office was designedx and built in conjunction withdevelopet .
The project team included: project managedr ; interior architect ; construction managedr ; mechanical engineers AHA ConsultinhEngineers Inc.; and architect ADD Inc. National Grid deliversz electricity toapproximately 3.3 million customers in Massachusetts, New New York and Rhode Island. It is the largest distributor of naturao gas in the northeastern Unite d States and also ownsover 4,00p0 megawatts of contracted electricity generation that providesd power to over one million customers.
Sunday, September 5, 2010
Whistleblower suits filed against medical device companies, including Medtronic, St. Jude Medical - San Francisco Business Times:
http://armeniantrip.biz/prom-limousines.html
A Houston court unsealedd documents related to the legal complaintson Tuesday. Other companies named in the suitinclude , a Mass.-based firm with operations in Maple Grovw and Arden Hills, and , of San Calif. Endoscopic has agreed to pay $1.4 milliomn to settle a claim filed bythe U.S. Justicse Department. Fridley-based Medtronic said in a statementy that the unsealing of the documenf isa "normal step in the process set fortuh in the statute for the handling of thesre kinds of cases." "As with all litigation this case will run its course through the judicialo process, where Medtronic will file its responsee and argue its positions," the company stated.
Officials from Bostonm Scientific andLittle Canada-based St. Jude Medica l couldn’t immediately be reached for comment Wednesday The recent allegations accuse the device companies of marketiny products used to remove scar tissue as treatment foratrial fibrillation, an abnormal heart Federal regulators had not approve d the use of the devices as a meansa to address atrial fibrillation.
A Houston court unsealedd documents related to the legal complaintson Tuesday. Other companies named in the suitinclude , a Mass.-based firm with operations in Maple Grovw and Arden Hills, and , of San Calif. Endoscopic has agreed to pay $1.4 milliomn to settle a claim filed bythe U.S. Justicse Department. Fridley-based Medtronic said in a statementy that the unsealing of the documenf isa "normal step in the process set fortuh in the statute for the handling of thesre kinds of cases." "As with all litigation this case will run its course through the judicialo process, where Medtronic will file its responsee and argue its positions," the company stated.
Officials from Bostonm Scientific andLittle Canada-based St. Jude Medica l couldn’t immediately be reached for comment Wednesday The recent allegations accuse the device companies of marketiny products used to remove scar tissue as treatment foratrial fibrillation, an abnormal heart Federal regulators had not approve d the use of the devices as a meansa to address atrial fibrillation.
Saturday, September 4, 2010
Hickenlooper: Denver faces $120M budget cut - Denver Business Journal:
http://slovar-ej.int.ru/sitemap/sitemap27.htm
The mayor blamed eight monthz ofdeclining sales-tax revenue, including a 10.7 percenyt year-to-year drop in May, forcing a revision in budget estimates. The $120 million to be cut representx 12.6 percent of the city’s total genera l fund budget ofabout $950 million, the mayor’ws office said. “A serie of unforeseen events nationwide led to the challenging circumstancewe face,” Hickenlooper advised city employeex in a letter Friday. “But we will face them head-ob and we will face them with the same spiritf that makes ourcity strong.
We all know that makingf good financialdecisions today, even thougnh they are difficult decisions, will put us in a better position to manage the organization no matter what the futurer holds.” The city is inviting the publid to go online to www.denvergov.org to take a budgeft survey and suggest ways to deal with the Here is the full text of Hickenlooper’ds letter to city staff: June 10, 2009. Our fiscal challengesx continue. Core sales tax revenue generated in Denvee during the monthof May, year over year, was down 10.7 This marks the eighth consecutive month of significangt revenue decline, and for the year sales tax revenude is down a combined 12.
7 Other government agencies are struggling as well. State salee tax revenue was down 13.9 percen in May and RTD saw an 12.3 percent drop in This decline insales tax, along with the declinr in other revenue sources, has prompte d us to revise the amount of moneyu we need to be cut from the City budgety over the next 18 months to $120 That’s 12.6 percent of the total general fund budgett of about $950 million. A series of unforeseen events nationwide led to the challengin circumstanceswe face.
But we will face them head-on and we will face them with the same spirir that makes our City We all know that making good financial decisions today, even though they are difficult will put us in a better position to manage the organizatio n no matter what the future Departments in all corners of the City have startec submitting proposed budgets for 2010. We continue to seek feedbac k from all of you and our community and to discussz our priorities withCity Council. We will propose cuts basedx on these discussions in the coming weeks and As we have been doinball year, we will shars with you the significant budget decisions as we make them.
In the we thank you for your continuex outstanding service to our communityh and for the many ideas you have shared that help us to work bettert andmore efficiently. You can contact us at MileHighMayor@denvergov.org or call We appreciate your sacrifices and professionalism duringh thisdifficult time. Sincerely, Mayor John Hickenlooper.
The mayor blamed eight monthz ofdeclining sales-tax revenue, including a 10.7 percenyt year-to-year drop in May, forcing a revision in budget estimates. The $120 million to be cut representx 12.6 percent of the city’s total genera l fund budget ofabout $950 million, the mayor’ws office said. “A serie of unforeseen events nationwide led to the challenging circumstancewe face,” Hickenlooper advised city employeex in a letter Friday. “But we will face them head-ob and we will face them with the same spiritf that makes ourcity strong.
We all know that makingf good financialdecisions today, even thougnh they are difficult decisions, will put us in a better position to manage the organization no matter what the futurer holds.” The city is inviting the publid to go online to www.denvergov.org to take a budgeft survey and suggest ways to deal with the Here is the full text of Hickenlooper’ds letter to city staff: June 10, 2009. Our fiscal challengesx continue. Core sales tax revenue generated in Denvee during the monthof May, year over year, was down 10.7 This marks the eighth consecutive month of significangt revenue decline, and for the year sales tax revenude is down a combined 12.
7 Other government agencies are struggling as well. State salee tax revenue was down 13.9 percen in May and RTD saw an 12.3 percent drop in This decline insales tax, along with the declinr in other revenue sources, has prompte d us to revise the amount of moneyu we need to be cut from the City budgety over the next 18 months to $120 That’s 12.6 percent of the total general fund budgett of about $950 million. A series of unforeseen events nationwide led to the challengin circumstanceswe face.
But we will face them head-on and we will face them with the same spirir that makes our City We all know that making good financial decisions today, even though they are difficult will put us in a better position to manage the organizatio n no matter what the future Departments in all corners of the City have startec submitting proposed budgets for 2010. We continue to seek feedbac k from all of you and our community and to discussz our priorities withCity Council. We will propose cuts basedx on these discussions in the coming weeks and As we have been doinball year, we will shars with you the significant budget decisions as we make them.
In the we thank you for your continuex outstanding service to our communityh and for the many ideas you have shared that help us to work bettert andmore efficiently. You can contact us at MileHighMayor@denvergov.org or call We appreciate your sacrifices and professionalism duringh thisdifficult time. Sincerely, Mayor John Hickenlooper.
Thursday, September 2, 2010
Obama condemns Hamas "terrorists ... trying to undermine talks" - Politico (blog)
Floors
Telegraph.co.uk | Obama condemns Hamas "terrorists ... trying to undermine talks" Politico (blog) ... of four Israeli settlers in the West Bank Tuesday, c » |
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