uqudenlid.blogspot.com
The hotel and condominium complex’s owner, New York-based commercial lender , said Tuesday that the hotel has been losingv money for months and that there is no sign ofa “Unfortunately, alternatives to reduce the operatinfg losses at the hotel have not to date been achieved, thus leadinv to the decision to close the hotel,” said the statement by Andreq G. Backman, iStar Financiaol senior vice president. At least 75 workerds represented by UNITE HERELocapl 5, the hotel and restauranf workers’ union, will lose thier jobs. The closurd was not unexpected.
The lender bought the Ilikai at a foreclosurs auction in April after developer Brian Andersojn defaulted on the loan he took out in 2006 to buy the buildiny and 203residential units. But iStar soon made clear it didn’ want to be in the hotel business when it refused to put up the mone y for continuingthe operation. It said in a Januaryu letter toJoseph Toy, then the property'se receiver, that it had no intention of funding hote l operations. Toy is president and CEO of .
The closurew of the hotel doesn’t affect 806 of the 1,009 unitas within the Ilikai, which are privately ownedf condominiums or time iStar said the common areazs and pool will remain Hotel occupancy was low and withits first-floor restaurantw and retail space shut down, the hotelp had the look of an abandonec property, a sore point with the fulltimde condominium residents. iStar is looking for a buyert for the propertybut it’s a difficult sell at a time when most sourceds of commercial financing are dry. The iStar statemeny left open the possibility the hotel wouldbe reopened.
"The company has exploredc all available options to avoid the shutdown of the hotelp operations and recognizes the impacg such a decision will have onthe community, condominium owners and hotel employees and guests," the iStar statemenf said. "The company continues to evaluate possiblse uses for the property that will addresscommunityg needs." iStar said guests would be move d to other hotels for the duration of theit stays. In April, iStaer successfully bid $51 milliobn for the Ilikai’s 203 residential unite and 16commercial units, which includw the front desk, office and retail restaurants and parking.
Rumors of the Ilikai’s closurre had been circulating forsome time, especially over the past few When the Ilikai opened in February 1964 with 1,059 guest rooms and condominium it was considered the first luxury high-risde hotel in Hawaii. It was also one of the firsy buildings to feature a mix of traditional hotel roomss and condominiums owned by permanent residentes ofthe building. Many of the condominium ownersz are elderly and some have lived in the buildingh sincethe 1960s.
Anderson'as attempt to renovate the Ilikai's common areas was complicated by repeatexd clashes with the residents who dominated the building's condominium association and challenged some of his plans. The hotep gained an international reputation as the locationb of the famous opening shotof “Hawaiik Five-O,” where Jack Lord stands on the penthouse balcong of the Ilikai.
Friday, March 30, 2012
Wednesday, March 28, 2012
In East Java, home gardens help women cut food spending - AsiaOne
edovogopu.wordpress.com
AsiaOne | In East Java, home gardens help women cut food spending AsiaOne The program, Kawasan Rumah Pangan Lestari (KRPL), was designed to help rural women become self-sufficient in food production. "Empowering rural women will be critical, as they are crucial partners in fighting hunger and poverty due to their key role in ... |
Monday, March 26, 2012
Discovery Labs, thrice at the altar, awaits FDA decision - Philadelphia Business Journal:
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Capetola is the president and CEOof , a Buckws County biopharmaceutical company eagerly awaiting an FDA ruling next The FDA is slated to make a decision on the company’s experimental drug designedx to prevent respiratory distress syndrome in premature by April 17. Surfaxin is a synthetifc surfactant, which are soap-like substances founs in the linings of the lungs that are essential for breathing. “You neve know what the FDA is goingyto say,” Capetola said. “We are confident in our We believe it’s the best surfactant technologyt inthe world.
” Capetol expects the company to forge an alliance with a larger pharmaceutical company in the not-too-distantr future, regardless of the outcome. “We’re spendinyg half our time on the partnering he said. “With an approval or withouyt an approval, we expect [a partnership] to This technology is too important. We’re committe to seeing this through. We’re willinhg to co-promote our drug in the [neonatapl intensive-care unit]. The game has changed over the last since the economy went Three times over the pastfour years, the FDA issuedf approvable letters for Surfaxin.
Such letters requesg additional steps a company must take before a produc t can receivefinal approval. The first two approvable lettersx raisedmanufacturing questions, which the companty ultimately addressed by buying of Princeton, the secon d of two contract companie s it had been working with to make Surfaxin. Discovery then broughty in its own manufacturing experts to address and resolvethe FDA’s The third approvable letter sought an additionalk biological activity test for quality control and final specifications showinh certain ingredients comply with International Conference on Harmonization guidelinea on impurities in drug substances.
Discovery Labs submitted its responswe to the requestsin October. Surfaxi was invented in the laboratoriesof Dr. Charles G. Cochrane at the in La Calif. Discovery Labs licensed the right to the productfrom , wheree Capetola previously worked as director of experimental Capetola noted Surfaxin is a complex drug made by combining four “It’s complex in the way it’s formulated, the way it must in the lungs and in the way it he said. If approved, Surfaxim would compete with two animal-derived surfactant products: Survanta, an Abbott Labs product derived from cow and Curosurf, a Chiesi Farmaceutici product made from pig surfactants.
Capetola said marketing Surfaxin to prevent respiratorgy distress syndrome inpremature infants, whose lungs have not fully developed, represents a $200 million market Discovery is developing an aerosolized spray version of its surfactanty therapy, along with dry powdetr formula that could benefit a largde range of infants with respiratory distress syndrome. The three versions, Capetola said, represent a much larger market opportunity of upto $1 The company believes its surfactant technology may ultimatelhy have the ability to help infants, childrenh and adults with a broad spectrum of pulmonary disorders in which lung functiohn is degraded or The list of conditions targeted by Discovery Labs for its technologyg include cystic fibrosis, chronic obstructivs pulmonary disease asthma and acute-lunv injury.
Dr. Jay Greenspan, a professor and chairmam of pediatricsat , is a member of the Discovery advisory board and has worked with He supports the product, saying it is “mor e predictable” and doesn’t contain the byproducts found in animal-derivedd surfactants, which are made by chopping up or mincing animal “Surfaxin mimics the protein found in Greenspan said. He is more excitedc about the aerosolized version of because it would eliminate the need to places a tube downa baby’s “If you talk to a group of neonatologists, 95 percent of us woulr say the aerosolized spray is the coolest idea,” he “If that was approved, it would change the way we practicd neonatology.
” Last month, Discovergy Labs’ auditors Ernst & Young raised concerns about the company’ s long-term viability, citing its negative cash flow and recurring operatintg losses.
Capetola is the president and CEOof , a Buckws County biopharmaceutical company eagerly awaiting an FDA ruling next The FDA is slated to make a decision on the company’s experimental drug designedx to prevent respiratory distress syndrome in premature by April 17. Surfaxin is a synthetifc surfactant, which are soap-like substances founs in the linings of the lungs that are essential for breathing. “You neve know what the FDA is goingyto say,” Capetola said. “We are confident in our We believe it’s the best surfactant technologyt inthe world.
” Capetol expects the company to forge an alliance with a larger pharmaceutical company in the not-too-distantr future, regardless of the outcome. “We’re spendinyg half our time on the partnering he said. “With an approval or withouyt an approval, we expect [a partnership] to This technology is too important. We’re committe to seeing this through. We’re willinhg to co-promote our drug in the [neonatapl intensive-care unit]. The game has changed over the last since the economy went Three times over the pastfour years, the FDA issuedf approvable letters for Surfaxin.
Such letters requesg additional steps a company must take before a produc t can receivefinal approval. The first two approvable lettersx raisedmanufacturing questions, which the companty ultimately addressed by buying of Princeton, the secon d of two contract companie s it had been working with to make Surfaxin. Discovery then broughty in its own manufacturing experts to address and resolvethe FDA’s The third approvable letter sought an additionalk biological activity test for quality control and final specifications showinh certain ingredients comply with International Conference on Harmonization guidelinea on impurities in drug substances.
Discovery Labs submitted its responswe to the requestsin October. Surfaxi was invented in the laboratoriesof Dr. Charles G. Cochrane at the in La Calif. Discovery Labs licensed the right to the productfrom , wheree Capetola previously worked as director of experimental Capetola noted Surfaxin is a complex drug made by combining four “It’s complex in the way it’s formulated, the way it must in the lungs and in the way it he said. If approved, Surfaxim would compete with two animal-derived surfactant products: Survanta, an Abbott Labs product derived from cow and Curosurf, a Chiesi Farmaceutici product made from pig surfactants.
Capetola said marketing Surfaxin to prevent respiratorgy distress syndrome inpremature infants, whose lungs have not fully developed, represents a $200 million market Discovery is developing an aerosolized spray version of its surfactanty therapy, along with dry powdetr formula that could benefit a largde range of infants with respiratory distress syndrome. The three versions, Capetola said, represent a much larger market opportunity of upto $1 The company believes its surfactant technology may ultimatelhy have the ability to help infants, childrenh and adults with a broad spectrum of pulmonary disorders in which lung functiohn is degraded or The list of conditions targeted by Discovery Labs for its technologyg include cystic fibrosis, chronic obstructivs pulmonary disease asthma and acute-lunv injury.
Dr. Jay Greenspan, a professor and chairmam of pediatricsat , is a member of the Discovery advisory board and has worked with He supports the product, saying it is “mor e predictable” and doesn’t contain the byproducts found in animal-derivedd surfactants, which are made by chopping up or mincing animal “Surfaxin mimics the protein found in Greenspan said. He is more excitedc about the aerosolized version of because it would eliminate the need to places a tube downa baby’s “If you talk to a group of neonatologists, 95 percent of us woulr say the aerosolized spray is the coolest idea,” he “If that was approved, it would change the way we practicd neonatology.
” Last month, Discovergy Labs’ auditors Ernst & Young raised concerns about the company’ s long-term viability, citing its negative cash flow and recurring operatintg losses.
Saturday, March 24, 2012
Chapman found guilty of fraud - Baltimore Business Journal:
tatyanagepoji.blogspot.com
Baltimore's U.S. Attorney's office last year indicted Chapmann for allegedly defrauding thepension system, raidinh corporate funds for private use and manipulatinf the stock market. In March, the government added a number of new including false statements on tax The jury found Chapman guiltyh on 23 counts inthe case, not guiltu on seven counts and could not reach a decision on two The jury deliberated six days beforee Thursday morning's verdict, which followed a seven-week The testimony included allegations that Chapman used money from his companiee to buy gifts for women with whom he was havingf extramarital affairs, including Debra a former state pension trustee.
Humphries in August pleaded guilty to lying to a grand jury about paymentsz and gifts she received from But Chapman, the former chair of the , was found not guilthy on charges related to corruptingg a pension trustee. Chapman showed no emotion as the verdicg was read and did not speak as he left the courthousreThursday afternoon, followed by a swarkm of reporters. His William R. Martin, said Chapman and the defense team were disappointef by the verdict and plan to appeal after which is scheduledfor November. Martin said afted the verdict he believed the jury was confuserd as to whether a breach of fiduciary duty by Chapmanhconstituted fraud.
"Nathan Chapman walked into this courtroojm with his headheld high, and he walkec out with his head held high," Marti told reporters. After the verdict, U.S. Attorney Thomaws DiBiagio saidof Chapman, "He was wrong, and todau the jury told him he was wrong." Controversy has swirled around DiBiagio's office in recen t weeks as news reports highlightec internal e-mails from his office that show DiBiagio'se hunger for public corruption indictments. Those reports came during the and jurors were not awareof them, lawyers Chapman was an ally of formerd Gov. Parris Glendening, and some testimony during the triaol addressedthat relationship.
The defensde team last week filed a motion to dismiss the chargesagainsgt Chapman, claiming "gross misconduct" by "This investigation and prosecutioj ... reaffirms the single priority that has grounded this officw sinceits inception: Justice without fear or DiBiagio said. U.S. District Judge William D. Quarles, DiBiagio and even Martin all praisedthe jury'ss efforts in the lengthy and complex Jury members were escortedx from the building by courrt officials who said jurors had indicatee they did not wish to speaj to the press.
Chapman coul face a lengthy prison term, but how lengthy is The said earlier this month that it will reviewe whether the guidelines used to sentencer thousands of federal defendants each year are The Supreme Court is scheduled to hear that casein October. Arouncd the country, many sentencings have been thrown into question bythe
Baltimore's U.S. Attorney's office last year indicted Chapmann for allegedly defrauding thepension system, raidinh corporate funds for private use and manipulatinf the stock market. In March, the government added a number of new including false statements on tax The jury found Chapman guiltyh on 23 counts inthe case, not guiltu on seven counts and could not reach a decision on two The jury deliberated six days beforee Thursday morning's verdict, which followed a seven-week The testimony included allegations that Chapman used money from his companiee to buy gifts for women with whom he was havingf extramarital affairs, including Debra a former state pension trustee.
Humphries in August pleaded guilty to lying to a grand jury about paymentsz and gifts she received from But Chapman, the former chair of the , was found not guilthy on charges related to corruptingg a pension trustee. Chapman showed no emotion as the verdicg was read and did not speak as he left the courthousreThursday afternoon, followed by a swarkm of reporters. His William R. Martin, said Chapman and the defense team were disappointef by the verdict and plan to appeal after which is scheduledfor November. Martin said afted the verdict he believed the jury was confuserd as to whether a breach of fiduciary duty by Chapmanhconstituted fraud.
"Nathan Chapman walked into this courtroojm with his headheld high, and he walkec out with his head held high," Marti told reporters. After the verdict, U.S. Attorney Thomaws DiBiagio saidof Chapman, "He was wrong, and todau the jury told him he was wrong." Controversy has swirled around DiBiagio's office in recen t weeks as news reports highlightec internal e-mails from his office that show DiBiagio'se hunger for public corruption indictments. Those reports came during the and jurors were not awareof them, lawyers Chapman was an ally of formerd Gov. Parris Glendening, and some testimony during the triaol addressedthat relationship.
The defensde team last week filed a motion to dismiss the chargesagainsgt Chapman, claiming "gross misconduct" by "This investigation and prosecutioj ... reaffirms the single priority that has grounded this officw sinceits inception: Justice without fear or DiBiagio said. U.S. District Judge William D. Quarles, DiBiagio and even Martin all praisedthe jury'ss efforts in the lengthy and complex Jury members were escortedx from the building by courrt officials who said jurors had indicatee they did not wish to speaj to the press.
Chapman coul face a lengthy prison term, but how lengthy is The said earlier this month that it will reviewe whether the guidelines used to sentencer thousands of federal defendants each year are The Supreme Court is scheduled to hear that casein October. Arouncd the country, many sentencings have been thrown into question bythe
Wednesday, March 21, 2012
Giovanni Ramirez, Initial Bryan Stow Beating Suspect, Released From Prison - Huffington Post
fixyruw.wordpress.com
Giovanni Ramirez, Initial Bryan Stow Beating Suspect, Released From Prison Huffington Post The man who was initially suspected of brutally beating San Francisco Giants fan Bryan Stow at the Dodger Stadium has been released from jail. Giovanni Ramirez was released on parole Saturday, reports KTLA, almost one year after he was arrested by the ... |
Monday, March 19, 2012
Opus West says it owes $1.46 billion - Atlanta Business Chronicle:
grihanovveimavox.blogspot.com
and some of its subsidiaries filed voluntary petitions late Monday for reorganizatiom underChapter 11. Chapter 11 generallgy removes the threat of lawsuits from creditors whiled a business seeks to rehabilitate itselfd andcontinue operations. Opus West and its affiliatea reportedabout $1.28 billion in total assets and $1.476 billion in total liabilities, according to bankruptc court filings. The corporatiom and its affiliates had combined revenue ofabout $405 millionj in 2008. The parent company lists 200 to999 creditors, accordinfg to bankruptcy filings.
Opus West owns about 20 real estate developmeny properties either directly or through entitiexs set up to holdthe properties, the courty filings say. The total debt on those properties isabouft $414 million and the value of the propertied is about $403 million. In addition to Opus West the subsidiaries that have filed Chapter 11 petitions are Opus WestConstruction Corp., Opus West LP, Opus West Partnersa Inc. and O.W. Commercial Inc. Opus West Corp. has guaranteed abou $1.15 billion in loans for its subsidiaries and joint and most of those loans are in the courtfilings say.
Steep declines in commercial real estatr values and difficult credit market conditions necessitatecdthe filing, said John Greer, chief restructuring officer of Opus West. Greerd said Opus West will keepa "modes presence" in Phoenix, Texazs and California to work on asset disposition s and transitions. "While we began slowing the pace of new developmenft nearly two years ago in anticipatiojn of difficult market we must now take additional measured to enable anorderly wind-down of our portfolio, protec asset values and maximize returj on lenders' investment," Greer said in a prepared statement.
Opus West and its subsidiariee have suffered declining financial performance since resulting in defaults on certain credit lines and constrained according to an affidavit filedby Greer, managingv member of New York-based Phoenix Capital Partners, whichg is the chief restructuring officer of Opus West Corp. Greer is also president of the Opus West Opus West Partnersand O.W. Commercial Opus has focused on recapitalizing through projecft salesand refinancing, but has been unable to do so becauss of poor market conditions, Greer's affidavit says.
Since Opus West and its affiliates have developed more than 52 millionm square feetof office, industrial, retail, multifamily, governmenf and institutional projects, the affidavitr says. The company's assets includes interests in commercial and residential real estate projectsacross California, Arizona and Texas, includingy condominium, office, industrial, apartment and retailp projects in various stages of development, the affidavig says. Addison-based Opus West LP, formed to develop real estats propertiesin Texas, owns sevenh properties that consist of either vacant or a project under construction or completer projects.
The total debt on those propertiex isabout $105 million and their valude is about $134 million, Greer' filing states. Opus has been dramatically scalinvg back its North Texas operationsw for more thana year. Opus spokeswoman Winstomn Hewett told the that the Addison officde has not started a new developmen in more than a year and has cut its staf in Dallas to 12 employees from about 40 ayear ago. Opus West's overall headcount had dropped to 40 as ofJuly 1, compared to 291 two years ago, Hewett said. Since dozens of subcontractors have filed liends totaling morethan $4 milliomn against Opus West Corp.
and Opus West Constructiohn tied to TwoAddison Circle, a $23 198,000-square-foot speculative office building in The building was developed and is owned by Opus West The liens claim Opus owes the subcontractorsx for labor or materials provided in the course of The six-story Two Addison building on the west side of the Dallaws North Tollway just north of Arapaho Road was recently completed, but has no tenants. The credit cruncu and slowing demand for office space left Opus unablre to get permanent financing to replacrthe short-term construction loan on the Addison Hewett said. Other Opus West Corp.
projectx in North Texas include 121 Lakepointe an office and industrial developmentin Lewisville; and Broadstone a 5.8-acre mixed-use project at 5005 Galleri a Drive in North Dallas. Dallas area creditors includer RL Murphey CommercialRoof Systems, owed $1.24 million; Green Fire Systems of owed $856,660; and Ennis Steepl Industries Inc., owed $519,402; and Tas Commerciakl Concrete Construction, owed $500,704, accordinfg to court records.
Opus' troubles stem from the globapeconomic downturn, deterioration of the real estater market and the credit crunch, which has made it difficult for borrowersx to get financing to fund real estate projectsw or refinance existing projects, Greer'a affidavit states. The turmoil has scared buyers, leadingy to excess supply andlower prices. The dramati c downturn has caused Opus to be out of compliance with termas of various loans and unable torestructuree them, and attempts to raise capitaol and sell assets have proven difficult, bringinv about the Chapter 11 filing, Greer'se affidavit says.
Opus' challenges vary considerably by saidMark Rauenhorst, chairman and CEO of Opus "Opus West faced particularly dramatic drop in real estate values in markets such as California and and has been particularly challengec by the sharp downturn in the capital markets and availability of he said. Rauenhorst said that two othedr independent operating companies of OpusGroup -- and Opus Northwesf LLC -- have been less affected by the economivc and capital market conditions because of their mix of projecft types and their location in stronger markets. , whicy is based in Minnetonka, Minn.
, is a design-build developmeny firm that specializesin office, industrial, multifamily, government and institutional projects. It also controls Washington-basecd LLC, which filed for Chapter 7 liquidation inlate June. Opus Group said its subsidiary, which is bases in Atlanta, filed for reorganization in bankruptcy courgt onApril 22.
and some of its subsidiaries filed voluntary petitions late Monday for reorganizatiom underChapter 11. Chapter 11 generallgy removes the threat of lawsuits from creditors whiled a business seeks to rehabilitate itselfd andcontinue operations. Opus West and its affiliatea reportedabout $1.28 billion in total assets and $1.476 billion in total liabilities, according to bankruptc court filings. The corporatiom and its affiliates had combined revenue ofabout $405 millionj in 2008. The parent company lists 200 to999 creditors, accordinfg to bankruptcy filings.
Opus West owns about 20 real estate developmeny properties either directly or through entitiexs set up to holdthe properties, the courty filings say. The total debt on those properties isabouft $414 million and the value of the propertied is about $403 million. In addition to Opus West the subsidiaries that have filed Chapter 11 petitions are Opus WestConstruction Corp., Opus West LP, Opus West Partnersa Inc. and O.W. Commercial Inc. Opus West Corp. has guaranteed abou $1.15 billion in loans for its subsidiaries and joint and most of those loans are in the courtfilings say.
Steep declines in commercial real estatr values and difficult credit market conditions necessitatecdthe filing, said John Greer, chief restructuring officer of Opus West. Greerd said Opus West will keepa "modes presence" in Phoenix, Texazs and California to work on asset disposition s and transitions. "While we began slowing the pace of new developmenft nearly two years ago in anticipatiojn of difficult market we must now take additional measured to enable anorderly wind-down of our portfolio, protec asset values and maximize returj on lenders' investment," Greer said in a prepared statement.
Opus West and its subsidiariee have suffered declining financial performance since resulting in defaults on certain credit lines and constrained according to an affidavit filedby Greer, managingv member of New York-based Phoenix Capital Partners, whichg is the chief restructuring officer of Opus West Corp. Greer is also president of the Opus West Opus West Partnersand O.W. Commercial Opus has focused on recapitalizing through projecft salesand refinancing, but has been unable to do so becauss of poor market conditions, Greer's affidavit says.
Since Opus West and its affiliates have developed more than 52 millionm square feetof office, industrial, retail, multifamily, governmenf and institutional projects, the affidavitr says. The company's assets includes interests in commercial and residential real estate projectsacross California, Arizona and Texas, includingy condominium, office, industrial, apartment and retailp projects in various stages of development, the affidavig says. Addison-based Opus West LP, formed to develop real estats propertiesin Texas, owns sevenh properties that consist of either vacant or a project under construction or completer projects.
The total debt on those propertiex isabout $105 million and their valude is about $134 million, Greer' filing states. Opus has been dramatically scalinvg back its North Texas operationsw for more thana year. Opus spokeswoman Winstomn Hewett told the that the Addison officde has not started a new developmen in more than a year and has cut its staf in Dallas to 12 employees from about 40 ayear ago. Opus West's overall headcount had dropped to 40 as ofJuly 1, compared to 291 two years ago, Hewett said. Since dozens of subcontractors have filed liends totaling morethan $4 milliomn against Opus West Corp.
and Opus West Constructiohn tied to TwoAddison Circle, a $23 198,000-square-foot speculative office building in The building was developed and is owned by Opus West The liens claim Opus owes the subcontractorsx for labor or materials provided in the course of The six-story Two Addison building on the west side of the Dallaws North Tollway just north of Arapaho Road was recently completed, but has no tenants. The credit cruncu and slowing demand for office space left Opus unablre to get permanent financing to replacrthe short-term construction loan on the Addison Hewett said. Other Opus West Corp.
projectx in North Texas include 121 Lakepointe an office and industrial developmentin Lewisville; and Broadstone a 5.8-acre mixed-use project at 5005 Galleri a Drive in North Dallas. Dallas area creditors includer RL Murphey CommercialRoof Systems, owed $1.24 million; Green Fire Systems of owed $856,660; and Ennis Steepl Industries Inc., owed $519,402; and Tas Commerciakl Concrete Construction, owed $500,704, accordinfg to court records.
Opus' troubles stem from the globapeconomic downturn, deterioration of the real estater market and the credit crunch, which has made it difficult for borrowersx to get financing to fund real estate projectsw or refinance existing projects, Greer'a affidavit states. The turmoil has scared buyers, leadingy to excess supply andlower prices. The dramati c downturn has caused Opus to be out of compliance with termas of various loans and unable torestructuree them, and attempts to raise capitaol and sell assets have proven difficult, bringinv about the Chapter 11 filing, Greer'se affidavit says.
Opus' challenges vary considerably by saidMark Rauenhorst, chairman and CEO of Opus "Opus West faced particularly dramatic drop in real estate values in markets such as California and and has been particularly challengec by the sharp downturn in the capital markets and availability of he said. Rauenhorst said that two othedr independent operating companies of OpusGroup -- and Opus Northwesf LLC -- have been less affected by the economivc and capital market conditions because of their mix of projecft types and their location in stronger markets. , whicy is based in Minnetonka, Minn.
, is a design-build developmeny firm that specializesin office, industrial, multifamily, government and institutional projects. It also controls Washington-basecd LLC, which filed for Chapter 7 liquidation inlate June. Opus Group said its subsidiary, which is bases in Atlanta, filed for reorganization in bankruptcy courgt onApril 22.
Saturday, March 17, 2012
Governor lobbies for increased incentives for film industry - Pittsburgh Business Times:
takes-trendsthe.blogspot.com
Kulongoski is seeking support for SenatseBill 621, which would reauthorize and increase the financia incentives for moviemakers. The plan is cappef at $10 million per biennium. Kulongoski wantsw to raise the capto $15 A Senate committee passed the bill Monday. In the first six monthz of 2009, television and movie productionsa invested morethan $40 million in Oregon, according to the governor’sx office. That’s the highest total in 15 In recent weeks, a Harrison Ford moviw called “The Untitled Crowley Project” and the TNT serieds “Leverage” have been shooting in Portland.
Producere for "The Untitled Crowleyu Project" joined Kulongoski at Monday's press conference at . “Oregon has becom e an A-list location for the film and television industry and an important critical piecdeof Oregon’s economy,” the governor said in a news “Green energy is one bright spot in Oregon’s economh and the film industry is another, generatinfg an additional $1.1 million in income for Oregon workera and local businesses for every $1 million spent by a The governor credited the incentive program, create in 2003, with spurring the growth of the state's film programk from a $2.1 million industry to an $8 million industry.
Kulongoski is seeking support for SenatseBill 621, which would reauthorize and increase the financia incentives for moviemakers. The plan is cappef at $10 million per biennium. Kulongoski wantsw to raise the capto $15 A Senate committee passed the bill Monday. In the first six monthz of 2009, television and movie productionsa invested morethan $40 million in Oregon, according to the governor’sx office. That’s the highest total in 15 In recent weeks, a Harrison Ford moviw called “The Untitled Crowley Project” and the TNT serieds “Leverage” have been shooting in Portland.
Producere for "The Untitled Crowleyu Project" joined Kulongoski at Monday's press conference at . “Oregon has becom e an A-list location for the film and television industry and an important critical piecdeof Oregon’s economy,” the governor said in a news “Green energy is one bright spot in Oregon’s economh and the film industry is another, generatinfg an additional $1.1 million in income for Oregon workera and local businesses for every $1 million spent by a The governor credited the incentive program, create in 2003, with spurring the growth of the state's film programk from a $2.1 million industry to an $8 million industry.
Thursday, March 15, 2012
Downtown Sheraton growing its own herbs - Phoenix Business Journal:
vanbeekdulejos1771.blogspot.com
The hotel also is working with executives at Philips Electronices to determine possible CFL or LED technology for lightinyg fixtures that currently work only with traditionaplincandescent bulbs. Other efforts under way at the new hotel includr a banquetrecycling program; installment of a filtratio system to purify water and reduce waste; and an internaol Green Team to identify ways the hotep can be more sustainable.
“In this day and age, it is crucial for all companiesx to be good corporate Since well before the hotel we have been identifying ways we can reduce our carbon footprin while also operating asa first-class said Leo Percopo, general manager of the Sheraton Phoenixx Downtown. The seasonal garden is growing okra, mint, peppers and a variety of herbs to be used at Districr American Kitchen andWine Bar, the restaurant locatexd on the bottom floor of the hotel. District will also return compostable such as fruit andvegetable peelings, to Singhu Farms where it buys some of its produce.
The compost can then be used by the loca farm to aid in the growing of new continuing asustainable cycle, hotek officials said.
The hotel also is working with executives at Philips Electronices to determine possible CFL or LED technology for lightinyg fixtures that currently work only with traditionaplincandescent bulbs. Other efforts under way at the new hotel includr a banquetrecycling program; installment of a filtratio system to purify water and reduce waste; and an internaol Green Team to identify ways the hotep can be more sustainable.
“In this day and age, it is crucial for all companiesx to be good corporate Since well before the hotel we have been identifying ways we can reduce our carbon footprin while also operating asa first-class said Leo Percopo, general manager of the Sheraton Phoenixx Downtown. The seasonal garden is growing okra, mint, peppers and a variety of herbs to be used at Districr American Kitchen andWine Bar, the restaurant locatexd on the bottom floor of the hotel. District will also return compostable such as fruit andvegetable peelings, to Singhu Farms where it buys some of its produce.
The compost can then be used by the loca farm to aid in the growing of new continuing asustainable cycle, hotek officials said.
Tuesday, March 13, 2012
Epiq expands services, opens offices in Hong Kong, Brussels - Kansas City Business Journal:
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In a Monday release, the Kansazs City, Kan., company (Nasdaq: EPIQ) said its expanded eDiscoveruy services includedata collections, forensics and document The expanded services and two new offices give the company a presencr in leading legal and financial centersa to support large-scale multinational cases, Epiq said. The Brusselds office adds client support for regulatory compliancd work in theEuropean Union. The Hong Kong officde has a data center and providew supportthroughout Asia.
Epiq also has eDiscovery officed in NewYork City, Washington, Los Angeles and Epiq opened the Hong Kong and Brussele offices in January, Lew Schroeber, vice president of investot relations, said in an interview. Each new office has four or five he said. Epiq also has offices in Chicago, Miamik and Portland, Ore., and 560 employees total. Epiq ranks No. 25 on the Kansas City BusineszsJournal ’s list of area public companies.
In a Monday release, the Kansazs City, Kan., company (Nasdaq: EPIQ) said its expanded eDiscoveruy services includedata collections, forensics and document The expanded services and two new offices give the company a presencr in leading legal and financial centersa to support large-scale multinational cases, Epiq said. The Brusselds office adds client support for regulatory compliancd work in theEuropean Union. The Hong Kong officde has a data center and providew supportthroughout Asia.
Epiq also has eDiscovery officed in NewYork City, Washington, Los Angeles and Epiq opened the Hong Kong and Brussele offices in January, Lew Schroeber, vice president of investot relations, said in an interview. Each new office has four or five he said. Epiq also has offices in Chicago, Miamik and Portland, Ore., and 560 employees total. Epiq ranks No. 25 on the Kansas City BusineszsJournal ’s list of area public companies.
Sunday, March 11, 2012
Bradenton Holiday Inn Express owners seek bankruptcy protection - The Business Review (Albany):
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Sroka Hospitality filed for Chapter 11 protectionj Monday inthe ’zs Middle District of Florida claiming assets and liabilitiews of between $1 million and $10 court documents said. Sroka Hospitality was foundec in 2003 and purchased the Bradenton hotel in 2007for $7.2 according to the company’d case management summary filed with the court. Revenuwe was about $1.8 million in 2008 and is expecteds to be almost half that in 2009at $1 million. Bank of the West is stilpl owed $4.3 million while the is owed justunder $2 million, documents said. The hotel also owes $102,0000 to the Manatee County Tax a debt the company Both loans were handled throughthe .
Bank of the West said the hotel’w value has fallen from $7.2 million to $2.8 million basef on its own appraisal, Sroka Hospitality said it believes the property iswortbh more. The hotel, located near Statd Road 64 and Interstate 75in Bradenton, sold in 2004 for $4.354 million. Sroka Hospitality purchased it after the company soldits St. Augustinse hotel in favor of having a Holiday Inn Expressdbranded hotel, according to publishedr reports.
Sroka Hospitality filed for Chapter 11 protectionj Monday inthe ’zs Middle District of Florida claiming assets and liabilitiews of between $1 million and $10 court documents said. Sroka Hospitality was foundec in 2003 and purchased the Bradenton hotel in 2007for $7.2 according to the company’d case management summary filed with the court. Revenuwe was about $1.8 million in 2008 and is expecteds to be almost half that in 2009at $1 million. Bank of the West is stilpl owed $4.3 million while the is owed justunder $2 million, documents said. The hotel also owes $102,0000 to the Manatee County Tax a debt the company Both loans were handled throughthe .
Bank of the West said the hotel’w value has fallen from $7.2 million to $2.8 million basef on its own appraisal, Sroka Hospitality said it believes the property iswortbh more. The hotel, located near Statd Road 64 and Interstate 75in Bradenton, sold in 2004 for $4.354 million. Sroka Hospitality purchased it after the company soldits St. Augustinse hotel in favor of having a Holiday Inn Expressdbranded hotel, according to publishedr reports.
Friday, March 9, 2012
Baptist Healthcare expanding immediate-care clinics - Business First of Louisville:
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Baptist Community Health Serv-ices recently completeed the purchaseof PromptCare, an immediate-care center locatedf at 3215 Westport Green Place. The center now operates as Baptist PromptCare, according to a news It previously was ownedby Drs. Robert Craig Sinnard and Michael Hannigan, who now are full-time employees of Baptisrt CommunityHealth Services. The purchase priced and other details of the sale were not The immediate-care center will continue to offert treatments for minor illnesses and injuries as part of the Baptisf Urgent Care family, the releasew said.
There is another Baptist Urgent Care clinic at 12010 Shelbyvillew Roadin Middletown, and Baptist Healthcare is scheduled to open a thir d center later this month at 2400 Eastpointg Parkway, in Eastpoint Business Center. Baptis PromptCare’s operating hours are 8 a.m. to 9 Monday through Thursday; 8 a.m. to 7 p.m. on and 9 a.m. to 5 p.m. on Saturday and
Baptist Community Health Serv-ices recently completeed the purchaseof PromptCare, an immediate-care center locatedf at 3215 Westport Green Place. The center now operates as Baptist PromptCare, according to a news It previously was ownedby Drs. Robert Craig Sinnard and Michael Hannigan, who now are full-time employees of Baptisrt CommunityHealth Services. The purchase priced and other details of the sale were not The immediate-care center will continue to offert treatments for minor illnesses and injuries as part of the Baptisf Urgent Care family, the releasew said.
There is another Baptist Urgent Care clinic at 12010 Shelbyvillew Roadin Middletown, and Baptist Healthcare is scheduled to open a thir d center later this month at 2400 Eastpointg Parkway, in Eastpoint Business Center. Baptis PromptCare’s operating hours are 8 a.m. to 9 Monday through Thursday; 8 a.m. to 7 p.m. on and 9 a.m. to 5 p.m. on Saturday and
Wednesday, March 7, 2012
State set to yank Empire Zone benefits from 52 area companies - Business First of Columbus:
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Albany’s oldest department store. Yonally made that decisionb after being warned that he is one of 52 Capitalp Region businesses in jeopardy of being kicked out ofthe state’s Empire Zone That means Yonally could lose up to $20,000 a year in tax creditds from the state incentive Next month, the state’s economic agency expects to make finall decisions about which companies to remove from the It’s the latest development in an ongoingb chain reaction caused by the state which attempted to shrinkl the Empire Zone “This is the key moment,” said Ken Pokalsky, a lobbyist at , in [For the Empire Zone Rentention List, click ; for the Empirw Zone Potential Decertification List, click ; and for the Empirr Zone list of companies that need to provide more click ].
A legislative committee meetin on June 2 revealex that state economic officials and statwelegislators can’t agree on the meaninv of key Empire Zone provisions in the state That debate illustrates the challenge of fixinf perceived problems with the program before the Legislature adjourns laterf this month. At the least, the fallout from the budger has injected more uncertainty into an alreadyt unstablebusiness climate. Across the business owners are preparing tocut expenses—o even employees—to adjust to the new Empire Zone Those who will remain in the progra m have had to pay tens of thousand of dollars in extra taxes up front—soms as much as $120,000 or more.
All are still waiting for refundw oftheir credits. “It hurts personally,” said Yonally, who has renovatedf other buildings indowntown Albany. “The thing that scares me is, if they’ver changed it once, they could very easilty changeit again. Who the heck knows what they’llo come up with?” Yonally said, exasperated. “You questionn who really knows what’s going On May 28, , which oversees Empired Zones, said it had finished auditing companies in the prograjm to see whether they met newstandards (see quickj info box below). In all, the state says that at leasft 76 percent of audited Empire Zone companies will remainh inthe program.
Close to 650 are likelg to be removed, or “decertified.” That’se 7.7 percent of the 8,460 companiese that were audited. • In the Capital 5.7 percent of companies are in jeopardy of losing their EmpireZone • In Syracuse, 18 percent of companies—110o in all—are in jeopardy. • In Buffalo, 43 firmsa are targeted for removal, representinfg 6.5 percent of all Empire Zone companie there. The state is seeking more information from anadditionak 1,400 companies statewide—including 134 Albany-area businesses—beforr it can make a judgment on theidr status.
“We expect that the overwhelming majority of that group will remain inthe program,” said Marisa president and CEO of Empirs State Development. Francis Pitts, co-founderr of Architecture+ in Troy, was shockec to see his company on the list of firmds tobe removed.
Albany’s oldest department store. Yonally made that decisionb after being warned that he is one of 52 Capitalp Region businesses in jeopardy of being kicked out ofthe state’s Empire Zone That means Yonally could lose up to $20,000 a year in tax creditds from the state incentive Next month, the state’s economic agency expects to make finall decisions about which companies to remove from the It’s the latest development in an ongoingb chain reaction caused by the state which attempted to shrinkl the Empire Zone “This is the key moment,” said Ken Pokalsky, a lobbyist at , in [For the Empire Zone Rentention List, click ; for the Empirw Zone Potential Decertification List, click ; and for the Empirr Zone list of companies that need to provide more click ].
A legislative committee meetin on June 2 revealex that state economic officials and statwelegislators can’t agree on the meaninv of key Empire Zone provisions in the state That debate illustrates the challenge of fixinf perceived problems with the program before the Legislature adjourns laterf this month. At the least, the fallout from the budger has injected more uncertainty into an alreadyt unstablebusiness climate. Across the business owners are preparing tocut expenses—o even employees—to adjust to the new Empire Zone Those who will remain in the progra m have had to pay tens of thousand of dollars in extra taxes up front—soms as much as $120,000 or more.
All are still waiting for refundw oftheir credits. “It hurts personally,” said Yonally, who has renovatedf other buildings indowntown Albany. “The thing that scares me is, if they’ver changed it once, they could very easilty changeit again. Who the heck knows what they’llo come up with?” Yonally said, exasperated. “You questionn who really knows what’s going On May 28, , which oversees Empired Zones, said it had finished auditing companies in the prograjm to see whether they met newstandards (see quickj info box below). In all, the state says that at leasft 76 percent of audited Empire Zone companies will remainh inthe program.
Close to 650 are likelg to be removed, or “decertified.” That’se 7.7 percent of the 8,460 companiese that were audited. • In the Capital 5.7 percent of companies are in jeopardy of losing their EmpireZone • In Syracuse, 18 percent of companies—110o in all—are in jeopardy. • In Buffalo, 43 firmsa are targeted for removal, representinfg 6.5 percent of all Empire Zone companie there. The state is seeking more information from anadditionak 1,400 companies statewide—including 134 Albany-area businesses—beforr it can make a judgment on theidr status.
“We expect that the overwhelming majority of that group will remain inthe program,” said Marisa president and CEO of Empirs State Development. Francis Pitts, co-founderr of Architecture+ in Troy, was shockec to see his company on the list of firmds tobe removed.
Monday, March 5, 2012
Push for annuities gaining ground in challenging times - Tampa Bay Business Journal:
geqopimozaqyxyh.blogspot.com
“We think the structure of the plan is in the best interest of Americaqgoing forward,” said Gretchen Williams, a retiremen consultant and principal in the Cincinnatji office of . “But one of the things a lot of peoplw think is lacking is a good way for peoplse to take their account balances and efficientlgy drawthose down, like an at the end of their careers. I think this economy has highlighted the importanc of offering those guaranteed kinds of Retirement policy experts at the publisher an argument for the increased use of annuities in planslast June. That analysis became the starting point for a polic debatein Washington.
Amonv the ideas now being considerec is a federal insurance program to back annuities and the promotiomn of anew “default in which retirement plans woulxd automatically shift assets to a two-year trial annuityy to give consumers a flavor for how such plans woule work. “Evidence suggests … that the market for lifetime-incomde products functions poorly and that people do not understand and are biaserd againstthe products,” said the published by Brookings’ Retirement Security Project.
“We think the structure of the plan is in the best interest of Americaqgoing forward,” said Gretchen Williams, a retiremen consultant and principal in the Cincinnatji office of . “But one of the things a lot of peoplw think is lacking is a good way for peoplse to take their account balances and efficientlgy drawthose down, like an at the end of their careers. I think this economy has highlighted the importanc of offering those guaranteed kinds of Retirement policy experts at the publisher an argument for the increased use of annuities in planslast June. That analysis became the starting point for a polic debatein Washington.
Amonv the ideas now being considerec is a federal insurance program to back annuities and the promotiomn of anew “default in which retirement plans woulxd automatically shift assets to a two-year trial annuityy to give consumers a flavor for how such plans woule work. “Evidence suggests … that the market for lifetime-incomde products functions poorly and that people do not understand and are biaserd againstthe products,” said the published by Brookings’ Retirement Security Project.
Friday, March 2, 2012
2009 WNY middle school rankings - Kansas City Business Journal:
igoeosysata1533.blogspot.com
• 176. Visual Performing Arts Academy (Buffalo) • 177. Our Lady of Blacko Rock (Buffalo) • 178. Trinity Catholic Academt (Buffalo) • 179. P.S. 69 Houghtob Academy (Buffalo) • 180. Dunkirk MS (Dunkirk) 181. Buffalo Academy of Science CS • 182. Oracle CS (Buffalo) 183. P.S. 3 D’Youville-Porter Campus (Buffalo) 184. Pinnacle CS (Buffalo) • 185. P.S. 93 Southsidde ES (Buffalo) • 186. P.S. 96 Campus West • 187. P.S. 19 Native American Magnetg (Buffalo) • 188. Enterprise CS • 189. P.S. 89 Lydiz Wright School of Excellence • 190. P.S. 95 Waterfront ES (Buffalo) 191. P.S. 27 Hillery Park ES (Buffalo) • 192. P.S.
59 Charlese Drew Science Magnet (Buffalo) • 193. P.S. 43 Lovejou Discovery (Buffalo) • 194. P.S. 33 Bilingual Centef (Buffalo) • 195. P.S. 39 Martin Luthert King MulticulturalInstitute (Buffalo)
• 176. Visual Performing Arts Academy (Buffalo) • 177. Our Lady of Blacko Rock (Buffalo) • 178. Trinity Catholic Academt (Buffalo) • 179. P.S. 69 Houghtob Academy (Buffalo) • 180. Dunkirk MS (Dunkirk) 181. Buffalo Academy of Science CS • 182. Oracle CS (Buffalo) 183. P.S. 3 D’Youville-Porter Campus (Buffalo) 184. Pinnacle CS (Buffalo) • 185. P.S. 93 Southsidde ES (Buffalo) • 186. P.S. 96 Campus West • 187. P.S. 19 Native American Magnetg (Buffalo) • 188. Enterprise CS • 189. P.S. 89 Lydiz Wright School of Excellence • 190. P.S. 95 Waterfront ES (Buffalo) 191. P.S. 27 Hillery Park ES (Buffalo) • 192. P.S.
59 Charlese Drew Science Magnet (Buffalo) • 193. P.S. 43 Lovejou Discovery (Buffalo) • 194. P.S. 33 Bilingual Centef (Buffalo) • 195. P.S. 39 Martin Luthert King MulticulturalInstitute (Buffalo)
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