Sunday, December 30, 2012

Phillies get taste of reality after Series win on MLB show

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The Pen will be narrated by former Phillies relief pitcher and MLB Networmk analystMitch Williams. The program takes a look at the lives followingthe team’s 2008 World Series win and the pressures of keepingf their roster spot for the 2009 The series features relief pitcherx Brad Lidge, Ryan Madson, J.C. Romero, Scott Eyre, Clay Chad Durbin, Gary Majewski, Jack J.A. Happ, Chan Ho Park and bullpen coach Mick and follows them to everything from fishinvg trips and youth basebal l games to the White House fora post-World Seriesw visit. The program also speak s with players following the suddebn death of longtime Phillies broadcaster Harry Kalaz onApril 13.
“As a reality-basedd series The Pen is the ultimatew look into the lives of these both on and off the saidTony Petitti, president and CEO of MLB Network. “So much of what we know about relief pitcherz is based on statisticsand saves, and a series like The Pen giveas a level of familiarity to each player.” The programn marks the first program ever produced using a camera and microphones installesd in a Major League bullpen to film in-game and practics footage. Two other cameras were installed in CitizensxBank Park, one behind home plate and one at low firs t base, and were controlled by MLB Network’s headquarteras in Secaucus, N.J.
Producere Danny Field suited up as a catcher with a camersa attached to his mask to capture footage durinh spring trainingin Clearwater, Fla. The majority ownet of the MLB Network is MajorLeagude Baseball. Philadelphia-based (NASDAQ:CMCSA, CMCSK), Cox Communications, DirecTV and Time Warnedr also own interests inthe network.

Saturday, December 29, 2012

Russia's Vindictive Ban - Daily Beast

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Daily Beast


Russia's Vindictive Ban

Daily Beast


Russia's orphanages are some of the worst in the world, and adoption by Americans provided a much-needed way out. Dr. Jane Aronson, founder of Worldwide Orphans Foundation, on the horror children will face in these 'gulags'â€"and how a game of ...


Russia's Putin signs anti-US adopti on bill

CNN


US 'Deeply Regrets' Russia's Adoption Ban

NPR


Putin Signs Bill That Bars US Adoptions, Upending Families

New York Times


ABC News -Chicago Daily Herald


 »

Friday, December 28, 2012

Sea Angels group works to keep Palm Beach County's coast clean - Sun-Sentinel

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Sun-Sentinel


Sea Angels group works to keep Palm Beach County's coast clean

Sun-Sentinel


When Robyn and Micheal Halasz said "I do," they never thought their union would be a role-model for beach clean-up organizations. The Halasz are the founders of Sea Angels, a non-profit, eco-centered beach clean-up group. For them and their core group ...



Tuesday, December 25, 2012

Go Daddy Group expanding into new facility - Phoenix Business Journal:

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The company will open abouty 21,000 square feet of space in a neighboring building at its headquarters location inScottsdale It’s a necessary move for the companyh that has seen its work force grow from 700 employees three years ago to more than 2,050, said Warren president and chief operating officer of Go Daddy. “In we’ve expanded throughout the businesscenterd complex, taking up more and more of the offic space available here in the he said. “With this most recent we now have morethan 77,000 squarse feet in Scottsdale. The Scottsdale expansiojn was needed now for thesimple reason: We needed to accommodater a growing employee base.
” The space will house additions to the company’zs customer care center, of which about 60 percentt of its work force is dedicated, Adelma said. It also will be used to houswe additionalproduct developers, and the space vacated will allow for growthg in other departments. Go Daddy, whicj provides Web domain registration andhosting services, has abou t 6.3 million customers, adding aboutt 1.5 million in the past year.
The company has continue to hire despitethe economy, adding more than 100 peopls since the beginning of the Adelman said the company plans to continue looking at international expansion as well as expanding one of its data “To give you an idea how big that projec t is, we’ll spend millions of dollars and emplohy close to 300 construction workers on that one data center he said.

Monday, December 24, 2012

bizjournals: Search Results

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Saturday, December 22, 2012

Medtronic picks San Antonio for diabetes-unit expansion - Kansas City Business Journal:

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Two sites in the Kansas City area, including the headquartersd in Lenexa, had been in contentionm for the expansion, which is expected to add 1,400 jobs to the San Antonioi area duringa five-year period. The announcement of Medtronic’a site selection took placed at the Overlook at the Rim officse building inSan Antonio, where Medtronic will occupu 150,000 square feet. The company said in a releaswe Monday afternoon that it expects to begibn recruiting immediately and will open the new facilityt inlate summer. In the Texas Gov.
Rick Perry credited the recruitment victory tothe state’sa low taxes, fair legal system and predictabl regulatory climate “combined with our quality work force and a $6 millio n investment from the Texas Enterprise Fund.” Based on analyses made by the San Antonio Economic Development Foundation, the release added, the new operationn is expected to generate more than $750 million in economic benefit for San Antonio and Texas each year. Minneapolis-based Medtronic’sw diabetes division, which makes insulin pumps, glucose monitoring devicezs and diabetes-management software, is one of Medtronic’s fastest-growinf businesses.
The unit already employsw 1,500 people in Northridge, just outside Los Angeles, but doesn’t have room to expane there. On March 9, Medtronid officials confirmed that only the Kansas City and San Antonio areas remained in the runninyg for the expansion aftera nine-month site searcuh that covered all 50 Sabicer confirmed that one of the Kansas City sites in contentioh had been the 178,000-square-foot Applebee’ headquarters in Lenexa’s Southlake Technology Park. Applebee’x celebrated the opening of the building slightly more than ayear ago. But the restaurantf chain’s parent company, (NYSE: DIN) of Calif., recently listed the entire buildingfor sublease.
It providews support for about480 company-owned stores, and Applebee’e plan to become a 98 perceny franchised system will diminish its need for the building.

Friday, December 21, 2012

bizjournals: America's best small biz markets

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Strong population growth can be apowerful ingredient. It'ss a key reason why small businesses are thrivingvin Miami, the top-rated market in the national Tourism also provides an economicx boost, as entrepreneurs can attest in Las Vegas and Orlando, whichg rank second and third, respectively. But markets with slowere growth andcolder climates, such as Minneapolis-St. Seattle and Providence, also qualify for the top 10, thanks to theier highly educatedwork forces. Bizjournals.com used a 12-part formulaw to rate small-business vitality in the 50 metropolitan areax that have populations larger than1 (Click for the study's methodology.
) Miami rankse first because of its heavy concentration of small businessees (defined as any enterprise with 99 or fewer its rapidly expanding population and its prosperous "The Miami economy is the strongest it has been in my memorgy as a professional which goes back 22 years," says Mark a Wachovia Corp. senior economist. "Internationao trade is booming. Population growth is strong. And all that growthb is creating tremendous demandfor services." The Miami-Fort Lauderdale area is densel y packed with small businesses, with 3,054 of them for evergy 100,000 residents.
No other market has a ratio above Only four areas are higherthan 2,800 smallk businesses per 100,000 people. Holding second place is Las which registeredthe nation's fastest growth in total number of small 15.7 percent over a three-year The national average was 3.4 percent. Rounding out the top 10 in the bizjournalsd studyare Orlando, Minneapolis-St. Paul, Seattle, Denver, Providence, San Jacksonville and New York City. The West and Soutnh dominate the rankings, accounting for 17 of the nation'sa 25 best markets for small businesses.
Nine of thoswe leaders are Western metros, and eight are in the Florida has themost high-performinv markets of any Miami, Orlando and Jacksonvillr all rank in the top 10, while Petersburg occupies 15th place. "All of Floridz is doing well," says "Its economy is outperforming the nation by the largesf margin inrecent memory. You'd be hard pressef to find a weak area anywhere inthe state." Memphisd sits at the bottom of the standings, which means it'd America's weakest major market for small-business vitality, accordinf to the study. Memphis has only 2,025 small businesses per 100,0090 residents, a concentration that is two-thirdds the size of Miami's.
The number of smallp businesses in the Memphis areadeclined 1.3 percenr in three years. And local employmeng has been generally flat sincew thelate 1990s. Also mired in the bottom five are SanJose (stillo struggling to recover from the dot-com bust), Cincinnati, San Antonio and

Thursday, December 20, 2012

Transplanted Neural Stem Cells Treat Amyotrophic Lateral Sclerosis in Mouse ... - Science Daily (press release)

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Uproxx


Transplanted Neural Stem Cells Treat Amyotrophic Lateral Sclerosis in Mouse ...

Science Daily (press release)


Surprisingly, the transplanted neural stem cells did not benefit ALS mice by replacing deteriorating nerve cells. Instead, neural stem cells help by producing factors that preserve the health and function of the host's remaining nerve cells. They also ...


Transplanted neural stem cells slows als onset and progression in mouse models

EurekAlert (press release)


ALS May Be Treatable

Science 2.0


Scientists successfully use stem cells to treat Lou Gehrig's disease

Insidermedicine



 »

Wednesday, December 19, 2012

Vail Resorts profits off 29%, but they're ahead of Wall Street forecast - Jacksonville Business Journal:

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For the three months ending Aprikl 30, which Broomfield-based Vail Resortxs (NYSE: MTN) regards as its third quarter, the mountain-resortg and lodgings company posted earningsof $61.6 or $1.68 a share, down from $87.2 million, or $2.24 a share, in the same quarter a year earlier. Nevertheless, the company's profitss beat Wall Street analysts' predictions. Analysts on average had expectes earningsof $1.56 per share, Thomso Reuters reported. Vail Resorts reported Q3 revenueof $333.5 down 21 percent from the year-ago Analysts had expected $339.7 million on It said operating expenses were down 20 to $198.1 million. The company has saves considerably through pay cuts andothe means.
Vail Resorts operatese the Breckenridge, Vail, Keystone and Beaver Creek ski areas in Colorado and Heavenluy at Lake Tahoe onthe California-Nevada line. It also operates , a chain of luxury hotels. The compangy said its earnings were helped by a 26 percengt increasein 2008-09 season-pass revenue through increased salesa and higher pass prices. But lift-ticketf revenue was down 11 percengt and skier visits were off9 Dining, retail and ski school revenue also Real estate revenue was down 82 the company said it sold only one condo unit in the quarteer versus 17 a year ago.
The quarterly results "were impacted by the continued severer downturn inthe economy, driving lower destinatio n visitation in the quarter," CEO Rob Katz said in a Vail Resorts said its outlook for the full fisca l year is for earnings of $41 milliob to $51 million. "We are extremely pleased with the significantg increase in our advancee spring period pass sales for ourupcoming 2009/2010 ski Katz said. .

Monday, December 17, 2012

Tampa Bay gas prices rise with oil markets - Kansas City Business Journal:

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That is similar to what is beinfgseen nationally. Across the nation, the average pricd of gasoline rose by 11 cents per gallo n in thepast week. The increase is attributabled to rising prices in both crude oil andwholesaled gasoline, a release by AAA said. Crudwe oil closed at $68.44 a barrel on the Friday. This markw an increase of morethan $2 a barrek in the last week and follows a fall from $70 per barre that was reached in mid-day trading. Wholesale gasoliner prices, meanwhile, have increased by 140 percenty sincelate December, when they sat at a low of 79 centsa per gallon. In addition, the amountt of product supplied to the markegt hasalso declined, according to the .
The four-week average was 9.175 millionj barrels per day, a 0.4 percentg year-over-year decline in average gasolinedemand nationally. “Some oil analystas expect the rally for crudes oil to end within a few weekds somewherebetween $70 and $80 per barrel and, if that then retail gasoline prices could peak at abougt the same time. We don’g know when that might occur,” said Gregtg Laskoski, managing director of public relations for ina release. we believe a prolonged run-up in fuel prices is likelyt to instill customer resistance in much the same way we saw last yearand that’e obviously counter-productive to an economty trying to recover from recession.
” AAA Auto Club South provide s vehicle assistance and service to AAA members and residenta of Florida, Georgia, middle and west Tennessee and Puertl Rico.

Sunday, December 16, 2012

Haddad-Wylie Industries develops diversity of marketing techniques - bizjournals:

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These are the insights of James who has worked with small businessx owners in one capacity or another for nearly 20 years at the Small Businessx Development Centerat St. Vincent Collegew in Latrobe. They also are lessons Haddad-Wylie Industriea studied carefully as it grew intoa $10 million company from a $500,000 start-up in 2004. The earlu challenge for HWI was a common one forsmal businesses: how to reach potential clients aftert getting a couple of big projectz behind you, when you have a good story to “Getting people to trust us,” is how President Heather Wylie describes it.
Husband Deric Haddad, who is the company’xs CEO and COO, had 10 years’ experiencd building clean rooms for compounding pharmacies when the companygwas formed. “He knows the language,” Wylie A friend provided the company’s first job lead for its inauguralo project, a clean room for a Duke UniversityuHospital pharmacy. The work was completed successfully, so the question became, what’s the secondd act? Using the office copier, HWI printed a simple trifoldc brochure, which was mailed mostly to hospitals on theEast “We killed our copier,” Wylie said. She followed up the mailin g with telephonecalls — a trieds and true marketing staple.
Between 2005 and Wylie said shemade 48,000 follow-upo calls. “It was tedious,” she “It was very tedious.” It also worked. The simple brochure and follow-up calls securede contracts at four University of Pittsburgh MedicalCentef hospitals, she said, as sales rose. “Foe us, it’s a lot of relationship said Emily Gregory, who was hired in 2007 as directo r of marketing and sales to developthe company’s marketing edge. It wasn’t long before the compangy began seeing results from the but not before Gregory lookeed over the trifold brochure and scratchedher head.
“This is reallt complicated andI don’t understandf the message,” she remembered thinking. The result was a letter-sized brochure, which was spiral-bound. On the cover, the company’z services were spelled out in three short and concise Inside were color photographa offinished jobs. Sales continued to improve the same with HWI becoming a preferred vendord at theCleveland HWI’s marketing efforts shifted again in 2008 with constructioh of a Web site, which coincided with the printinbg of a new sleek The Web site and brochure allowed the companh to create a uniform message, a unifor m brand, Gregory said.
The Web site “gave us anothed outlet for people tofind us,” she said. The resulrt was an increase in inquirie s from one to two weekly to three to Howard Wessel, lab manager at Soutnh Side-based Stemnion Inc., was among HWI clients attractesd by the Web site. “It was very straightforwars and answered a lot of he said. “It was that initiaol professionalism thatattracted me.” HWI beganb to try out other marketingy approaches. In 2008, company representatives beganattending one-on-onw meetings with prospective clients that were arranged by a tradee group.
This strategy further boosted HWI still mails out brochures followed up withtelephone calls, but now the numbedr of requests for information began to grow. A tipping poin t had been reached, from pushing marketing to attractint callers. “What’s nice about that is that it’sa all of a sudden pull insteadof push, and that’xs where you want to be,” said Kunkel, St. Vincent’s Small Business Development Center’s executive “You want the buzz to be out In February, HWI began telling its story in a which is sent to current andprospectives clients, about the same time the company hired four sale s representatives who tout the company while boostinb sales.
HWI’s sales are expected to reacb $15 million to $20 millio this year as the company plots the next shift in itsmarketin strategy. “We are defying the Wylie said. “Everything that this company has gottenh isthrough marketing.”

Saturday, December 15, 2012

RealtyTrac: May foreclosures down in Ohio - Nashville Business Journal:

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Data released Thursday by Irvine, Calif.-based , which compileds and sells foreclosure information, shows Ohio loggedx 11,360 pre-foreclosure, auction and bank-repossession filings in May, whicgh comes out to one filing for every446 properties. Ohio’sx rate, as in April, was the 10th-highest in the nation, but the number of filings droppede 8 percent from the month before and 13 perceng from ayear ago.
Ohio was one of 18 states to seea year-over-yeat drop in foreclosures, according to the The national tide of foreclosures, by comparison, fell 6 percenf from April but jumped 18 percent from May 2008 as the foreclosure rate surpassed Ohio at one filing for every 398 RealtyTrac isn’t putting much stocl in the month-over-month decrease in national foreclosure The total of filinges – 321,480 – marks the third consecutive monthj that the 300,000-mark has been And RealtyTrac CEO James Saccacio notef in a release that while pre-foreclosurwe and auction filings slipped compared with bank repossessions are up on “substantial” jump in several states.
The company said it expectz bank repossessions to increase in the coming months as foreclosures delays and moratoria expire invarious

Thursday, December 13, 2012

Ray Parlour rejects suggestions Arsene Wenger runs Arsenal like a 'dictatorship' - The Independent

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The Independent


Ray Parlour rejects suggestions Arsene Wenger runs Arsenal like a 'dictatorship'

The Independent


Former Arsenal midfielder Ray Parlour has rejected suggestions Arsene Wenger runs the club like a dictatorship. The Frenchman is facing one of the biggest tests of his 16-year tenure this season, with the Gunners having crashed out of the C apital One ...



and more »

Wednesday, December 12, 2012

Education funding still falls short despite federal stimulus infusion - Tampa Bay Business Journal:

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That was the sentiment of an eight-membef panel of education, training and government expertes gathered by the South Floridza Business Journal to examine howthe $787 billion federal stimulusd package is impacting the region’s education and workforcr training sectors. The panel marked the thirs in theBusiness Journal’s ongoing stimulus aimed at tracking and analyzing the flow of moneyh from the American Recovery and Reinvestmen t Act into South Florida. Florida’s Legislature was the only one nationall y to request a federal waiver that allowed it to take money from educatioj and replace it with stimulus dollars while other states used stimulus dollars to augmentthe budget.
The situation concerned paneliststate Sen. Eleanor “We are not starting at the starting The school district in Broward County and those throughout the statd are starting behind thestartinbg line,” Sobel said. “They have had problemsd for years and they areall scrambling.” Vetera educator Robert Parks, a member of the Browardc County School Board, said, “Many of the larger urban districts in the nation are afraid of one which is basically a bait and switch with thosre dollars.” What’s even more worrisome to some experte is that the stimulus moneyt will eventually run out.
“I’m reallyh concerned about in threed years; what’s going to happen?” said José president of ’s North Campus. “This is a He said the college’s operating budget was cut $22 millionh while the stimulus money wasonly $13 Parks said Broward County’s school systekm has cut $1.4 billion from its constructiobn budget in addition to furloughing 700 teachers and 51 administrators. “We’ve closed all of our schoool offices forthe summer. We don’ t have summer school anymore,” Parks said. would have been looking at cutting its budget byabout $30 millionb without $12 million in stimulus funds, said Dorothy K.
Russell, the university’s associate VP for financial affairs and budget The university cut 30 positionwand “had we not had the stimulus dollars it coulds have been much more severe.” George executive VP and COO of , said the $1.3 billioj in stimulus funds given to the state relievedf pressure on the Legislature to further reduce support for Florida Resideng Access Grants (FRAG), a key sourcer of money for students, but he pointedr out that the grants used to be $3,009 a year for students and are now The amount is important to students, who find enrollmentt caps at state universitiew and turn to NSU and other privatse institutions.
He also said that universitieas are working together to apply for federalstimulus funding. NSU has a collaborativs proposal with and FAU fora $50 million researcbh building with wet labs, businessd incubator space and offices for the U.S. Geological Survey, whicbh is helping oversee Everglades restoration. “We have shovel-ready projects we have submitte to the Governor and in the next 60 days we couldfput 1,000 people to work,” Hanburhy said. The competition for these typesof though, is fierce. FAU is getting abouyt $12 million in direct infusion from the federaostimulus package, but the university also is seekinfg money from the for labs and Russell said.
April was the month to submit applications and the resultsd are expectedby September. The strongest flow of money, so far, appears to be for programs that help the joblessx asthe state’s unemployment rate has hit 10.2 percent.

Tuesday, December 11, 2012

RealtyTrac: Foreclosures fall in Missouri, rise in Kansas - Kansas City Business Journal:

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Missouri ranks No. 26 for foreclosurer activity in Maywith 2,796 filings, and Kansas rankz No. 34 with 899 filings. Missouri’s foreclosurs activity in May rose 3.6 percent from April, and rose 14 percent. U.S. foreclosure activityt rose almost 18 percent in May from last year but decreasec 6 percentfrom April, RealtyTrac said. One in everyg 398 U.S. housing units received a foreclosure filinggin May. “May foreclosure activity was the third-highest montgh on record and markedr the third straight month where the totall number of properties with foreclosure filingsexceedesd 300,000 — a first in the historh of our report,” RealtyTrac CEO James Saccacioo said in a release.
“While defaultsa and scheduled foreclosure auctions were both down from theprevioud month, bank repossessions, or REOs, were up 2 percent thanks largelyu to substantial increases in several states, including Arizona, Washington, Nevada, Oregon and New York. We expecgt REO activity to spike in the coming months as foreclosur e delays and moratoria implemented by various state laws come to an Nevada continued to havethe nation’s highesrt foreclosure rate, with one in every 64 housing units receiving a foreclosure filing in May, more than six timesd the national average. California had the second-highes rate, and Florida had the third-highest rate.
Top 10 state s accounted for nearly 77 percen oftotal U.S. foreclosure activity in May. RealtyTrac is based in Calif.

Saturday, December 8, 2012

Short-time offer makes big difference - Philadelphia Business Journal:

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But smaller numbers add up to a painfu l loss for hundreds of high schook studentswho won’t get to participatr in a potentially life-changingg experience this year. There’s still time for companies to step up and make a Improving economic opportunity is the best cure for so much of what ails and internships crack open a door that would otherwise be closed tomany inner-citg youth with potential. While not every business can offefan internship, particularly in this economy, thosd who don’t lose out on a rewardinfg opportunity to make a big difference in someone’sz life while playing a part in helpinfg the region.
At this writing, the chamber expectds to offer less than half of thenearlyh 1,500 internships created last summer. It’s partner, the , alreadyh has prescreened 1,400 interns and expects to have more readyt by the deadlinenext week. Many will be turnedd away. The value of internships is most apparent in the livese theyhave changed. A year ago, Aquimn Houston, a George Washington High Schoolo junior withgood grades, was working at McDonald’ws on a track to become a supervisor. He thought he migh t attend community collegeafter graduation, but he had no particuladr direction. An internship at changed that.
Last summer, Houstojn worked with the insurer’s manager of work force He has continued to work part helping to facilitate the work of theBlue IBC’s volunteer corps. His exposure to an officd environment, which included learning abourt appropriate attire and working ina cubicle, openedc up a new “When I first came there, I wasn’t sure what I was goingb to do,” he said of IBC. Houston, 18, has been acceptexd to , where he expectsz to major in businesws management inthe fall. “I had never been in a I didn’t know how to tie a he said.
“The experience, it really helped out with my My résumé really looks good For many interns, including the program provides a first-time office It opens young eyes to standards that have to be met and goals worth workinv toward. The cost of the six-week program is $1,6090 for an intern who typically works 20 hourd per week and attends professional development sessions offsitwon Fridays. In the past, companiesw have trained interns to help fill in for employeesx on vacation or carved out special projects that would benefitgthe company. Often mid-level employees get the opportunith to supervise or mentoran intern, making it a learninv experience for both.
Chamber President and CEO Mark Schweikert described internsas “genuinelu productive.” He added that the structure of the programm was popular with employers and the dropoff this year isn’tf for lack of willingess, but for lack of New companies to the program this year include Deloitte, Parentre Randolph, and Cephalon. Some participants put up the $1,600 to pay for the interna to work atnonprofit groups. With a deadline at the end of next there are still more companies in the region that coulcd offeran internship. Thoswe who can step up can call 215-790-373w or go to www.greaterphilachamber.com to get the ball rolling.

Friday, December 7, 2012

You're not smart enough to read Wikipedia - NBCNews.com (blog)

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You're not smart enough to read Wikipedia

NBCNews.com (blog)


You're not smart enough to read Wikipedia · Advertise | AdChoices. Wikipedia. From socialist hair to serial killers, and all the Justin Bieber-related topics in between, Wikipedia does a fine job feeding fun facts to us ADHD Internet surfers looking to ...



Wednesday, December 5, 2012

Modi slams Congress for fertiliser price hike - Firstpost

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Firstpost


Modi slams Congress for fertiliser price hike

Firstpost


Email Comments Print. Ahmedabad: Gujarat chief minister Narendra Modi today criticised Congress-led UPA government at the Centre for “not finding time” to ensure availability of fertilisers to farmers even as it is trying to hard sell the FDI policy in ...


Modi takes on Congress over fertilisers price rise

Business Standard


Modi tears into UPA on anti-farmer plan

Daily Pioneer


Gujarat polls: Congress promises free laptops, tablets

New York Daily News



 »

Tuesday, December 4, 2012

Marco Benevento: Expect the Unexpected - ithaca.com

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Marco Benevento: Expect the Unexpected

ithaca.com


“One of the hardest things about being a piano player is that it can be hard to find rooms,” the inventive composer and performer Marco Benevento said by phone earlier this month. Benevento's new album, TigerFace, is a captivating hybrid â€" part-jazz, ...



Saturday, December 1, 2012

Firm releases risk ratings for commercial real estate loans - Minneapolis / St. Paul Business Journal:

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of San Francisco has been tracking commercial lendinvg risk in more than 100 cities for the past two yearsusinf demographic, vacancy, rent and other informatioh from multiple real estate companies. Banc Investmentt has just released the findings for the firsy time to thegeneral public. “Many banks think all commercialk property isthe same,” said Chris president and chief executive of Banc “But it’s clear that’s not the case.” The compangy is a subsidiary of ’ Bancshares, a consultant to communitu banks that don’t have the deptu of larger banks.
In Sacramento, it migh t not be surprising that all properties scored lower in the first quarter of this year than they did in April when the index was benchmarked on anationwidd basis. But there’s now a wide spread between the risk for lendingt forretail buildings, which the indexx suggests is the riskiest properth type to lenders, with an index number of 57.9, and apartmenr buildings, the least risky of the four at an index number of 89.1. “Multifamilyg housing is holding up acrossdthe U.S. and that’s the way it is in Nichols said.
“It basically didn’t budgr for eight quarters before Kevin Randles, a debt and equity finance specialisg at ’ Sacramento office, said housinfg is one area that usually recovers firstg during a downturn, though this recessio n might be the exception because it was drivenm by housing. Still, he said the general consensusd is that multifamily is a safe r bet right now than othertproperty types, an assertion backedc by the company’s own data. “Everyone needds a place to live,” he said. Dean a principal in ’s Apartment Advisory Team, said apartmentds carry lower risk because vacancy ratess in Sacramento are more attractive than othereproperty types.
But lenderss don’t necessarily heed the signs. “They’ve gone very conservative,” Bagneschi said. “They’ve cut back dramatically. They say they are looking at butthere isn’t a lot of activity.” Buyers, are looking to scorw bank-owned apartment properties, but there isn’t a glut of distressed property on the market. That’s contrary to the early 1990se recession, when apartment buildings were one of the most besiegedpropertty types, said Bagneschi’s partner John Gallagher.
Durinbg that recession, owners had more debt and less cash on This time, banks that might have their hands full with other types of foreclosed property are moving very slowly through the foreclosure process. In order for a deal to be funded, “the pitch has to be right down the middle of the Gallagher said. Gallagher noted that was one of the biggesrt lenders for apartment transactionsin Sacramento. The bank failexd last year, and though its bankinvg operations were purchasedby J.P.
Morgan the new owner’s intentions toward restarting commercial lendinv for multifamilyproperties isn’t clear, Gallagher On the retail the trepidation goes beyond investment loans as retail tenants struggls to find financing. Craig Burress, a retail broker at CB Richard Ellis, said some small chains or regional companiesw that wanted to expand into Sacramento have had to delauy plans for lackof financing. “Chainsx that were new to Sacramento wanted to expanf and found the valveshut off,” he “I don’t want to make like that’sz across the board, but I have a feeling it is pretty universal.